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About 12DrinkMore

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  1. BItcoin : Top 2.5% own 95.8%

    This is confusing me. I thought that the blockchain was supposed to indicate the actual owner. If these coins are being held in a common wallet, then surely the wallet owner owns the coins? And if they are being held "in trust" by the exchange, what regulatory and legal rights do the guys who think they own the coins actually have? And this idea of "trust" I thought was one of the main properties that bitcoin was supposed to eliminate?
  2. BItcoin : Top 2.5% own 95.8%

    Yes, I have been there before. I have still not been able to find statistics over the volume of bitcoin transactions that use fiat currency on the other side of the transaction. Ie strip out all the bitcoin to alt-coin stuff and what is left?
  3. Oh really? As an absolute minimum an investor should read and fully understand the two page "Facts" paper. Here's ETY. Eaton Vance Tax-Managed Diversified Equity Income Fund https://funds.eatonvance.com/includes/loadDocument.php?fn=2777.pdf&dt=fundpdfs' Now, please, who has the belief and who has the facts? And now you wrote That is surely a gross misunderstanding. The FOF is priced at a discount because of the costs and risks of liquidating the underlying instruments, some of which tend to be highly illiquid. The market demands a discount to take on the risk. You will have to explain the mechanism "compounding the discount of the funds it owns", it is a concept I can't seem to grasp. The only way that s CEF can offer 8% is by selling stocks. This is currently easy because the market is rising. The DOW Yield is currently 2.33%. Where do think the other 5.67% is coming from? http://indexarb.com/dividendYieldSorteddj.html It is utterly impossible for a Fund of Funds to distribute 8% without selling some of the underlying funds.
  4. Aussie dollar Thai baht

    Australia had a huge boom digging stuff out of the ground and selling it to the Chinese. Those were the days when teachers and other professionals were lining up to drive trucks to the ports and could earn fantastic amounts. It still exports wine and farm produce. And there is still a healthy "export" market in education, where the Asians go to Aussieland for higher education.
  5. Aussie dollar Thai baht

    Oh please, no! I can clearly remember the bogan era. Everywhere I went there were loud bogans in armless shirts, or no shirts, carrying tinnies down the road. Overweight grotesque sheilas could be heard moaning and complaining in the restaurants. The AUD should be kept beneath THB 20 to retain a reasonable safety margin.
  6. Aussie dollar Thai baht

    I know quite a few foreigners living in Thailand. A considerable number sit in their houses all day and occassionally go for a drink in the evening with other expats, all living in the past. They are totally blinkered to the developments that have gone on around them. I am not criticising how they live, but I wish they would not sit on the keyboard and keep pushing the same keys.
  7. Aussie dollar Thai baht

    Some might call it a solid ceiling, the more solid the ceiling the greater the fall.
  8. BItcoin : Top 2.5% own 95.8%

    That is a mix of bitcoin to alt-coin churn and transactions with real currencies such as the USD. So far I cannot find data on the volume of bitcoin <=> fiat transactions. And with numbers for the major exchanges? It is certainly nowhere near 9 billion USD. Just think how much money the exchanges would make on a percentage of that. Can you help with a website? That will help with answering Unless someone can show me otherwise, every time a bitcoin is sold for real currency, a buyer with real currency has to come forward.
  9. BItcoin : Top 2.5% own 95.8%

    ? The top 1% of bitcoin owners have been in from the very start, techies, enthusiasts and those making a very fortuitous punt. There are zero banks in among that group.
  10. BItcoin : Top 2.5% own 95.8%

    The data source is in the post. The words are my personal ramblings, which may be a load of cobblers. But I am interested in hearing other opinions.
  11. I always find that in and reverse out is the best way. Never realised there was another exit.
  12. There will never be a sovereign crypto currency

    You are not a bank.
  13. There will never be a sovereign crypto currency

    You can always go and ask. There are two basic restrictions. 1. The bank is prepared to take the risk of lending you the money. You have to prove that you are able to supply some collateral for the loan. Which might be property deeds for a large loan or your promise to work your <deleted> off and repay the loan for a small personal loan. 2. The capital reserve requirement held as part of the shareholders' funds, which can be written down if a debt goes tits up. The banks, as another poster just pointed out, do not look at deposit accounts before making loans, nor do they consult the Central Banks.
  14. Talk about uneven wealth distribution. https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html The top 2.5% of bitcoin owners possess 95.8% of all the bitcoins. Or the top 1% own more than 87% This is surely masking an unprecented massive transfer of wealth in the form of hard earned fiat currency from recent wannabee rich guys to long term holders of bitcoin...... So how skewed is the distribution? Addresses richer than: 1 USD 100 USD 1,000 USD 10,000 USD 100,000 USD 1,000,000 USD 10,000,000 USD 20,053,613 7,323,557 2,596,315 769,041 163,566 19,932 1,903 I think it would be reasonable to say that even if on paper the big wallets will lose out hugely when it collapses, they will also have safely moved a nice chunk into Mrs Yellen's fiat. And it is another reason why bitcoin can never deliver on its promises, all the churn and liquidity is in very small amounts. The rest is sticking somewhere, useless for transactions.
  15. Hypothectically breaking a contract.

    A month's salary is hardly severe. A fair number of English teachers just get up and leave after receiving a pay check. I consider it to be fair play, some of the schools are not very nice to the English teachers. It would not affect coming back to Thailand as a tourist.