Member Info for fleccy

"but BT’s cash flow remains"

https://www.investorschronicle.co.uk/news/2023/03/27/why-bt-s-peter-and-paul-strategy-might-irk-shareholders/

"Banks will be blocked from closing branches through newly introduced FCA legislation."

Does that mean the new banks like Revolut, Starling and Monzo will be forced to open branches? What's good for the goose is.... .

Binance is going to be flushed down the litigation toilet, and since they control 80% of the Bitcoin market, it doesn't look good for the Token and Crypto in general.

"f you can’t see the difference, you’re going to have lots of difficulty understanding anything to do with BT & OFCOM."

If OFCOM blocks Equinox 2 then it's likely BT will take OFCOM to court. OFCOM aren't all powerful and there are limits to the restrictions they can place on BT; As long as BT can demonstrate a clear business case for introducing new pricing, there isn't much OFCOM can do about it.
The problem for the Altnets, is they overestimated peoples desire to move onto full Fibre, with many more than happy with their FTTC service; The Altnets are finding it a harder sell than they anticipated, as the CP's using the Openreach network are putting up a fight and retaining a significant majority. I live in a VMO2 Franchise area and CityFibre are currently in the process of overbuilding VMO2, and from what I've read CityFibre may have a 70% overlap with VMO2 areas, so the current speculation about NexFibre (VMO2 by another name) taking over CityFibre should be interesting.

"Labour Party if elected, have already pledged, to halt the mass closure of high street banks."

I'm not sure how they'd be able to stop the banks closing branches, unless the Government takes them over and turns them into some sort of community bank.
I can't remember the last time I went into a bank branch, we pay for everything using our debit cards. My Son even recently moved his mortgage onto a 5 year fixed online, without the need to go into a branch. Anyone needing cash for something, can get cashback at the supermarket and payments for expensive items can be done through an online transfers.
Small local Bank branches are no longer required, things have moved on.

Just to add to my last post, I think it's highly unlikely OFCOM will block Equinox 2, as BT have a good internal business case for the offer. The current delay is probably to allow OFCOM to analyse their legal position, before waving the offer through.

"Either way, threatening competition in plain sight of the regulator was a very silly, career ending thing to do in my opinion"

He's allowed to express his opinion, the Altnet vested interests are continually having digs at BT, with some of their rhetoric worse than anything Jansen said. Not only that, many of the CP's have used the media to pressure BT into reducing wholesale prices, while allowing other vested interests to use it to knock the share price; VMO2 taking over Talk Talk was never going to happen, but it knocked 7% off BT's share price and probably allowed CP's to pressure BT on wholesale pricing. There have been other events like the Sky/VMO2 speculation which also never happened and was unlikely to happen. It isn't a stretch to assume certain vested interests profited from BT's price action, as a result of these speculative announcement's, where are OFCOM when BT comes under attack?

"So that is a good/positive thing??? Are you feeling okay Fleccy????"

I didn't say I think they'll achieve their goals, I was just giving my interpretation of what he said.

"This can't be true..sure fleccy said btc is dead ??"

I did, but I also added that it doesn't know it yet. At some point it'll sneeze and its nose will come off.
As far as DWPBank allowing customers to trade Crypto, they'll make money out of it no matter how well or badly the Tokens do. From what I've read, they specialise in securities banking and are relatively small with Revenue around $636 Million, so they're looking at milking the sector; Whether or not it leads to widespread adoption in Germany, I doubt it.
UK banks are ramping up Crypto restrictions and limiting purchases of Crypto from their customer accounts, so we'll see where all this goes over the next year or two.
Also the Bank of England is looking into introducing a Digital Pound and I assume other Central Banks will look at their own CBDC's. CDBC's will hammer the nails into DeFi Crypto, since they'll be stable and tied to the currency of the issuing country.

"The digital pound would be a new type of money issued by the Bank of England for everyone to use for day-to-day spending. You would be able to use it in-store or online to make payments.
This type of money is known as a central bank digital currency (CBDC). You may also hear it being called ‘digital sterling’ or even ‘Britcoin’. We call the UK version of CBDC the digital pound.
The digital pound would be denominated in sterling and its value would be stable, just like banknotes. £10 in digital pounds would always have the same value as a £10 banknote.
If we introduced it, it would not replace cash. We know being able to use cash is important for many people. That’s why we will continue to issue it for as long as people want to keep using it.
The digital pound would not be a cryptocurrency or cryptoasset. As opposed to cryptocurrencies, which are issued privately, the digital pound would be issued by the Bank of England and be backed by the Government."

https://www.bankofengland.co.uk/the-digital-pound

"I wonder if Vodafone have offered him a job and he's decided to take on a new challenge?"

I suppose much would depend on the terms of him leaving and if he'd be prohibited from immediately moving to a direct competitor.

I like Philip Jansen and have nothing but praise for the strategy BT are pursuing. I'll be disheartened if the story is true and he's replaced by someone with an alternative strategy. As I've said before, on many occasions, BT is currently a cost saving play, with growth of the bottom line being the focus; They can concentrate on other types of Growth once the FTTP rollout, 5G and offloading of the BTPS is completed. I wonder if Vodafone have offered him a job and he's decided to take on a new challenge?

"Ladies and gentlemen I give you my crackpot theory on WEF’s plans to introduce CBDC …….. am I a crazy conspiracy theorist possibly."

The Crypto community is made up of two types of people, the naïve misguided believers and the con artists. The con artists create fake narratives to feed the hype, and attempt to discredit anything perceived as a threat; The believers suck up the BS and spread it around. In the meantime the vested interests get rich and most of the believers lose money; Winners and losers.
CBDC is a big threat to Crypto, as it will be backed by Central Banks giving it a legitimacy Public (DeFi) Crypto can only dream of. CBDC are unlikely to be used for day to day trade, as we're already more or less cashless anyway, with most using Debit/Credit Cards or using online banking for 95% of transactions, more in our case since I cant remember the last time I paid for something using cash. CBDC's will most likely be used by Central Banks and institutions for International transactions and big transfers, to offer greater security via private secure networks.
An unmanaged Decentralised Financial World will never happen, because no one would trust it and crooks would continually attack it for flaws and weaknesses in order to exploit and thieve. A lot is spoken about in relation to security, but anything transacted via nodes on the internet is insecure, since every node will have a complete record of every transaction on the Blockchain and the crooks will find ways to be one step ahead of the developers.
Commercial Quantum Computers are years away, but they would wipe the floor with encrypted data on the open internet, so the only secure data will probably be transmitted over secure private point to point links using other technologies to protect the data, maybe technologies like Quantum Key Distribution over something similar to MPLS.

https://www.gazettabyte.com/home/2022/5/5/bts-first-quantum-key-distribution-network.html

Decentralised Finance, using Public networks, will never be secure enough, since any data transmitted and shared between multiple nodes is inherently insecure.

"90% + 10% = 100%"

Correct, since you're not mixing real numbers with percentages.

"Now my turn to confuse
If you are at 90% and you increase this value by 10% you only end up at 99% not 100%
So still room for improvement to get to 100%"

99 is 110% of 90.

"110% = 110/100 = 1.1"

Addison you need to go back to school.

1.1 is 1% of 110

"Not sure how to work out 110% sure, can anyone help?"

(Number/100)x110

To ISA top up territory.

"The game is warming up , it’s more important than ever you understand the difference between Bitcoin and the rest of crypto . Expect short term volatility but be reassured the higher lows and higher highs are firmly in place ."

Which version of Bitcoin are you referring to? Because there are quite a few:

Bitcoin – BTC
Bitcoin Cash – BCH
Bitcoin BEP2 – BTCB
Bitcoin SV – Satoshi Vision – BSV
Bitcoin Gold – BTG
Wrapped Bitcoin – WBTC
Bitcoin Atom – BCA
Bitcoin Diamond – BCD
Bitcoin Green – BITG
Bitcoin Standard Hashrate Token – BTCST

Which makes my point that Bitcoin's are nothing more than virtual inventions, with value based purely on sentiment. If anyone can create a Crypto Token and put it out there, then where's the value difference between one token and another?
Apart from the two flavours of Token, proof of stake and proof of work, what's the difference between one token and another? It's obvious that all Crypto Tokens are "shhh1tcoins", Bitcoin included. How can something have value so easily replicated? Bitcoin isn't unique, that's just the narrative put out there and the strange thing is the number of people that fall for it.

"FG said selected partners, maybe you should listen instead of looking for a new angle to troll with, get a life for goodness sake man."

It's probably someone called Jeff with a small mining farm in his garage and Fred with an Antminer S19 Pro in his bedroom.

"I would say by the sounds of it, not just one miner would want QBT software, they all would, as I mentioned before (as did FG) if they have the choice between replacing all the hardware at great cost"

Part of the issues with increasing Bitcoin mining efficiency by 30%, if its even possible to scale/implement in Mining farms and Bitcoin mining pools, is that the Bitcoin difficulty will quickly nullify any benefit from using an algo that increases mining efficiency.

"At the time of writing, Bitcoin’s difficulty is at an all-time high of 43.55 trillion, and the network’s hashrate remains above the 300 exahash per second (EH/s) range at 319.86 EH/s."

https://news.bitcoin.com/bitcoin-network-preps-for-another-difficulty-spike-as-hashrate-remains-strong-and-miners-profit-amid-price-surge/#:~:text=Mining%20distribution%20statistics%20show%20that,F2pool%20with%2046.13%20EH%2Fs.

If QBT's algorithm works, and all the Bitcoin miners implemented it, the Bitcoin difficulty would soon increase to nullify the 30% increase, so all the miners will gain nothing and reduce their rewards by the amount they have to give to QBT; They all may as well agree not to use the software and keep all the Bitcoin they mine.
The 10 minutes per block processing rate is fundamental to the Bitcoin Mining Hashrate.

Bitcoin difficulty ensures:
1 Block every 10 minutes
2,016 Blocks between each difficulty adjustment
210,000 Blocks between each halving

I'm not being negative, I'm just saying it the way it is.