Member Info for fleccy

Just to add Jambone, I'm not as old as you think I am.

"i post twice on your lloyds share about banking crisis as a little insight and they weren’t happy"

Feel free to post on Lloyds, BT, or Vodafone, they're the three stocks I own. I promise I wont tell you to stop, just like I don't tell the existing persistently negative posters on those pages. Checkout Guttersnipe, jax05, or my personal favourite Porsche1946 who I decided to filter, as his posts were without substance and "boring"; There are others, but I'm not bothered by them either as I have my own opinions. So go for it, troll as much as you want, I wont say anything.

As far as BTC's concerned, you're correct I am bigoted toward it, but with good reason; I've read up on BTC and everything about it smacks of trying to fit square pegs in round holes. All the use cases touted for BTC have failed miserably, the transaction speeds are woefully slow, proof of work uses vast amounts of electricity, and it's complicated to use; Even workarounds like the Lightning Network have issues. About the only thing BTC has going for it is the brand/hype, which has developed a cult following with some big money players.

"Haha, certainly not focusing on you Fleccy, you're doing that all by yourself"

I just respond when people paint a false picture of me, so I set the record straight; I'm honest about my investments and give honest opinions in my posts, it isn't my fault if people don't like my honest opinions.

"Why would anybody put more than a cash float in a Bank anyway."

That's very true Brixton, the only time it'd be worth holding cash is during rampant deflation, which would never happen because they'd blow the money printing Dam Kakhovka style. Currently we're in an inflationary period and cash purchasing power reduces the longer high inflation persists, so its best to own hard assets that increase in value in line with inflation, like property, Gold, Equities, etc. This isn't advice, it's just my personal opinion.

WillIwontI, you're doing the same as others and focusing on me instead of the subject matter. Don't worry about me, I'm fit, healthy and happy and do as I please when I please.

Pas, it was around March this year my Daughters partner shared that he'd previously invested in some BTC, and apparently it wasn't a great amount, but it was enough to put him off Crypto without any influence from me, I've disliked Crypto a lot longer than that lol. I've spoken to a few people who've previously dabbled in Crypto and they all got burned. You accuse me of "arrogance and pomposity", yet in the previous paragraph of the same post you bang on about winners and losers, suggesting you don't give a t055 about the people who lose their shirts, when it goes against them, as long as you're ok. Personally I would never invest in anything I didn't view as a solid investment and I wouldn't advise anyone else too either, what you describe as "arrogance and pomposity" is me giving an honest opinion the way I see it. Just because you guys don't like my opinion, because it might reflect negatively on your own investment position, doesn't mean others wont be interested; Also I don't see anyone calling out persistent ramping posts, aimed at persuading doubters to jump in who may be sitting on the fence, why's that?

For all I know QBT could be everything the rampers are saying, but it could equally fall flat and wipe out all the investors, as far as I can tell it's currently 50/50 either way.

Very speculative opinions about my motivations for posting Jambone, you and others focus on having a go at me, rather than concentrating on the points raised. As far as my motivations, I do think Crypto sucks money out of worthwhile investments, but not specifically my investments; For example, the power used mining Bitcoin could be used for useful endeavors like Vertical farming, hydrogen production, research into worthwhile projects like Nuclear Fusion, etc, etc. I just view BTC and other Crypto's as a waste of time, money, and most importantly energy. As far as scrimping, if all our investments went to zero we'd still have a comfortable lifestyle, with a nice house and all the amenities. Our Children and Grandchildren will eventually be the beneficiaries of our investments, so it isn't even really about myself or my wife.

I do hold views about the myths surrounding Bitcoin, and Crypto in general; For example, inflation degrades the value of cash, but assets/Equities tend to rise in inflationary times, so the value of your house and Equities will eventually track inflation upwards, why does anyone need something like Bitcoin, or even Gold, as a hedge against inflation? My stocks may be down at the moment, and since I've been investing for many years I've found myself sitting on paper losses, but my stocks are cheap by historic standards and I/we are seeing ever increasing dividend income year on year, as well as reducing the average cost per share. The reason I've invested in dividend paying stocks, over the years, is the knowledge that stocks can go down as well as up and since I/we can afford to reinvest dividends it makes sense to reinvest rather than taking income; It's quite simple.

Plutuq, we all spend our leisure time in different ways. I don't see the point of fishing, Airplane and train spotting, but I do make sure I get lots of walking and gym sessions in, as well as posting on LSE when I'm bored.

"....get over it Fleccy BTC's here to stay !"

That's what people like to think, but the politicians and regulators are lining up against BTC and other unbacked Crypto's. Many are now suggesting that trading in unbacked Crypto is no more than gambling, and the new regulatory environments aren't even initially aimed at unbacked tokens, like BTC, they're laying the groundwork for Central Bank Stable coins and stable coins for trading commodities; So commodities could eventually be traded using specific Tokens, not the current unbacked Crypto's. Things like Oil and Gold could have their own tokens, backed by specific amounts of the associated Commodity, so Blockchain Tokens may have a future, just not what the DeFi Crypto enthusiasts want.

Currently Oil and Gold are priced in US Dollars, would they use stable coin's anchored to the US Dollar to maintain the status quo, or would some other mechanism dictate the prices? And would they generate more Tokens as Oil is produced and Gold mined and as Oil is refined, or used, would the oil backed Tokens become redundant and flagged as spent? As the oil would no longer exist; Or if Gold was used in Jewellery, would a record of the Gold used in the jewellery be kept on the Blockchain and possibly used to authenticate the Gold used in the item when sold? Blockchain could record every transaction associated with Gold from being mined to its applications and beyond, if the Gold is subsequently recycled a record could also be kept of that. For smaller quantities, Sub Tokens similar to Satoshi's could be used, but particular to the specific Tokens.

All this is just musing on my part and it's a bit out there, but I do see a future for backed Stable Coins, just not for Tokens like BTC.

It isn't the first Futures ETF, not sure about the relevance of leverage as compared to other approved BTC Futures ETF'S.

https://www.forbes.com/advisor/investing/cryptocurrency/best-bitcoin-etfs/

The SEC has yet to approve any Spot BTC ETF's, which would invest directly in BTC. Gensler was quite scathing toward Crypto in the recent videos, so it's anyone's guess if a Blackrock or Fidelity Schwab will be able to persuade the SEC to authorise a Spot ETF.

As far as I can tell, the SEC are reluctant to allow Spot ETF's due to manipulation across various Worldwide Exchanges and the risks it might pose to pension schemes, etc, who may invest into a Spot ETF. I noticed an article, which I didn't read in full and I can't remember where I read it, suggesting that some parts of the Crypto community are worried because they think the US Tradfi's (Blackrock/Fidelity) may Fork BTC to facilitate a regulated version of the Token, to be traded on certain regulated exchanges thereby making it easier for Spot ETF's to be authorised by the SEC, If I understood the gist of the article correctly.

I notice they've just released a TVR RNS, seems a bit early in the month. I'll update the June figure if they release another RNS at month end.

https://docs.google.com/spreadsheets/d/e/2PACX-1vS0oSavIsBjHgD7k6NMyk7Z591Cm2IrevvLI-Jq95gOmESrOI0Vi_NhA8LIO9rMz90Y5zCOCoFuEItG/pubchart?oid=1812824850&format=interactive

https://docs.google.com/spreadsheets/d/e/2PACX-1vS0oSavIsBjHgD7k6NMyk7Z591Cm2IrevvLI-Jq95gOmESrOI0Vi_NhA8LIO9rMz90Y5zCOCoFuEItG/pubchart?oid=1451011517&format=interactive

"maybe it’s to do with your Lloyds shares which seem to be going down more, you must be sat on quite a loss now?"

Nope, I'm actually glad my Lloyds and BT shares are dropping like bricks; Currently my Lloyds shares are showing a paper loss of £29,960.65, but it isn't like I haven't been here before. In August we've got £3,095.44 dividends coming through, and a further £4,707.03 coming in September, which'll all be reinvested back into BT and Lloyds stock; The lower the price, the more stock our dividend reinvestment buys, the more dividends we get next year.

I'm not someone who worries about paper losses, we've increased our stock holdings massively while prices were depressed during covid and should Vodafone decide to maintain their dividend going forward, which they say they will although I have my doubts, we will pull in over £25,000 in dividends in the 2024/25 Financial Year.

"Must be well into the 50s now"

Shouldn't your share dealing accounts show your average cost per share?

I've set up a spreadsheet on Google Sheets that gives me up to the minute losses and gains across our all our share dealing accounts and ISA's, both individually and aggregated.

Nige I don't have a crystal ball, but I'm betting on BT having the correct strategy and earnings per share increasing dramatically once the current capex cycle subsides, with other cost cutting initiatives also feeding through to the bottom line at the same time. I also think the Pension is well on the way to being sorted and the debt narrative is overblown, but that's just my opinion for what it's worth.

It doesn't matter what the share price was 10 years ago, or what it is today; All that matters is the price the stock was bought at, Dividends received and then saved, spent, or reinvested, and the price the stock is eventually sold at. The good thing about Dividend paying stocks is you're paid to hold when the price dips, with the dips then providing opportunities to buy more stock through Dividend reinvestment.

The fund managers and investment industry/professionals have to make profits quarter on quarter, and year on year, I only have to profit once when I decide to sell; And since I'm unleveraged I can choose to wait until I'm in profit, however long that takes.

I've seen the website, but there's nothing advising that the "Teams" are employed as full time research staff, just that it involves "several current, or former, university professors, PhDs university students, and highly experienced professionals"; Don't get me wrong, I understand that Universities incubate startups with Professors, Doctors and students all contributing time, but they're usually more open as to who's involved at the higher level and contributing to the projects; Also they tend to be true startups, not a transformation from listed Leisure company, to becoming an "R&D" company with a catchy acronym aimed at tapping into the hysteria around the current hype.

As far as the Italy lab's concerned, fair enough they have some computing power there, but I'm not sure of their use of terminology, like very big data and AI, and why didn't they use their GPU's/ASIC's to mine live Bitcoin instead of running simulation's, presumably using test data?

I really am watching with interest to see how this unfolds, and seeing how something like Ultraboost will scale into mining operations hashing data in Quadrillions of hashes per second, like Foundry USA who currently have a Hashrate around 111,928.76 PH/s (111.92876 EH/s), with the current Bitcoin Network Hashrate running at 348.77 EH/s; Currently nearly a third of of the full Bitcoin Network Hashrate is supplied by Foundry USA.

"Err, all the answers are there"

I must be missing something then, maybe you could answer them on this thread:

Is QBT a true R&D company with full time dedicated research teams?

Are the research teams full time employees, or Scientists offering their spare time with the promise of shares should the price go high enough?

Where are QBT's research facilities, how many full time staff do they have working on the projects?

What does Addison's comment "Very Large Big Data" refer to, and where does said data come from?

"Maybe if you answered his questions Jambone he may just go away?"

I don't think he can answer the questions, probably because few if any who post on here can.

"Because they have all been answered plenty of time troll"

I haven't seen any reference to those specific questions, can you provide the answers now? And I don't mean one of your copy and paste posts listing aspirational goals without substantive facts backing them up.

Nope, just asking questions anyone should ask. Jambone, instead of calling me a troll why don't you answer the questions, facts always win over speculation.

Anyone can say they're involved in R&D; Is QBT a true R&D company with full time dedicated research teams, or are the research teams a bunch of Scientist mates putting in their spare time with the promise of shares should the price go high enough? Where are QBT's research facilities, how many full time staff do they have working on the projects? Going off the list in Addisons post, you'd think they have research staff numbering in the hundreds, working full time on anything and everything. Where does "Very Large Big Data" come from? When I think about big data, I think in terms of companies like Google and Amazon, not a small company yet to show a profit.

Off topic, but further proof for anyone who thinks UK is under attack. Are many of our problems being engineered by the animosity of our EU or US Democrat friends?

"Yet France's mischief-making is less of a problem than the meddling of the US and its octogenarian leader.

Biden approaches the world's most sensitive issues with an open mouth. And his snub to Wallace is clearly symptomatic of a wider vendetta against the UK.

His ageing and increasingly unpredictable mind is gripped by a sentimental Irish nationalism nurtured as a child during World War Two, when Eire was neutral to Hitler's threat. "

https://www.dailymail.co.uk/columnists/article-12224779/This-snub-ageing-Presidents-vendetta-against-UK-writes-MARK-ALMOND.html