Member Info for fleccy

A reserve asset with no intrinsic value, where any value is based purely on belief.

Bitcoin has been described as a commodity by US regulators, to my mind, commodities have uses and aren't just entities where the values are based purely on belief. Oil, Gas and food commodity valuations are driven by consumer demand and clearly have real World uses, even Gold has many uses in various industries whereas Bitcoin has no real World uses. If Bitcoin is a commodity, it's probably the only one that wouldn't be missed if it blinked out of existence tomorrow, since it's a useless asset.

If the US used Bitcoin as a treasury reserve "asset", it could find that it's holding an unsaleable "asset" should they become a major holder. Imagine what would happen to the price of bitcoin if a massive holder like MicroStrategy needed, or decided, to sell down their holdings. Because Bitcoin's only use is to buy, or sell, it isn't like there's any demand outside of the fanboys and speculators.

Countries don't have to trade in Dollars, if Saudi decided to trade Oil for Yuan with China there'd be nothing stopping them. Convention dictates that Oil is priced in Dollars, but that only holds true while the the majority of the World agrees to it. Dollar dominance is only true while market consensus deems it so, eventually the Chinese and probably Indian economies will overtake the US, at which point Dollar dominance will fade. History shows that all dominant World powers have eventually drifted downward, so will the Dollar as the US drops down the economic table.

As far as the Lloyds trade was concerned, it showed on the London Srock Exchange Trade Recap page.

https://www.londonstockexchange.com/stock/LLOY/lloyds-banking-group-plc/trade-recap

Yeah I posted the trade at the beginning of this thread, and everyone who subsequently commented also saw it, that was the point of the thread.

Is that the best you can do LTI, NG could easily see 600p once it becomes clear that demand wont increase over the next 10 years. NG will increase debt and sell off assets to fund the new Green Electricity connectivity infrastructure, while gas/oil fired plants will be retired. The most likely outcome is that demand will stagnate and there'll be a transition over to Wind/Solar and possibly more Nuclear. I asked you in a previous thread where the extra demand will come from. you never answered.

And it's irrelevant whether or not I'm invested in NG, I have just as much right to express an opinion as you, it's childish to suggest I don't. You should explain where the extra demand is coming from between now and 2036, because the official forecasts are pretty vague on that score, apart from suggesting it'll come from EV charging and Heat Pumps.

"Lots of pro-brexit dumbbells on here"

What's that got to do with Lloyds Bank.

I also notice a few posters trying to persuade others that Lloyds has peaked; If the Lloyds price catches up with the percentage increase seen by NWG since January. then it will likely see 70p plus, there's no reason to think it wont.

Pence per ordinary share 3.78989

Anyone any idea why someone would pay £4,752 over the odds for a stock after hours.

The other day an after hours Off Book trade went through for BT, at nearly 11p above UT close price. A similar trade has gone through for Lloyds this evening:

Date . . . . . Time . Trade Prc . Volume . Buy/Sell . . Bid . . .Ask . Value

26-Jul-24 18:57:44 . 64.67 . . . 118,520 Unknown* 60.36 60.40 76.65k

Aren't you Irish though Aus?

I should say Pylons at the bottom of their gardens.

They need to raise as much cash as they can to fund all the new connections to rural wind and solar.

Miliband is trying to persuade people that it's ok to have HV cables going over their houses, and Pilon's at the bottom of their gardens; I don't personally believe it, but there have been many instances where people believe HV overhead cables have caused, and potentially can cause, harm.

https://www.gov.uk/government/publications/electric-and-magnetic-fields-health-effects-of-exposure/electric-and-magnetic-fields-assessment-of-health-risks

https://www.manchestereveningnews.co.uk/news/greater-manchester-news/cancer-link-to-power-cables-1199371

https://www.lancashiretelegraph.co.uk/news/6041454.couple-hope-proved-right-pylons/

The links to the news articles are over 20 years old, but you can see the sort of problems the Government, and NG, will have to persuade people who currently aren't affected by HV overhead cables.

Probably looking at around 3.8p a share.

The exchange rate on the 4.5 Eurocent dividend should be decided today.

https://investors.vodafone.com/shareholder-centre/dividends

Stock prices make no sense these days unless you believe the prices are manipulated.

https://www.google.com/finance/quote/LLOY:LON?comparison=LON%3ABARC%2CLON%3ANWG&window=YTD

"As a result, the new maturity date of the Bond is 15 December 2026 and the new conversion price is £0.03 per new ordinary share of 0.25 pence each in the Company."

https://www.lse.co.uk/rns/QBT/result-of-bondholders-meeting-9cndv9iu0oldpoe.html

"The Bonds are also at 0.03p"

Do you mean £0.03?

That trade's a bit baffling, not sure why someone would pay a premium of 7.7% over the closing price, meaning it cost them around £13,683 more than if they'd paid 140.3p per share. Maybe there's some news breaking tomorrow that they have insider knowledge of? Just kidding, but it'd be funny if there was.

As far as the financials are concerned, interim updates like this aren't that relevant, the meat will be in the half year and full year results. Because of the way Vodafone use Working Capital, anyone who watches the company will realise that Free Cash Flow is always down in the H1 results, as Working Capital is deducted, and generally recovers in H2 when WC is added back in. So expect FCF to be down at the H1 results and recover in H2/FY results.

https://docs.google.com/spreadsheets/d/e/2PACX-1vRA1ndHTf_Bz7O_moDxmcbWnEtcusZucUu6lEJvm3O4mGooeH4ErFjRqot3RQHBaVXCgoUED1k2CUVK/pubchart?oid=498591&format=interactive

Equity dividends paid out to shareholders and share buybacks aren't part of the FCF calculation, they come afterward and show as an increase in Net Debt.

"The cash in your pocket is worthless except for the fact people accept it has value and is recognised by the state."

That statement is clearly incorrect, the market determines the value of a currency based on the strength of the economy's overseen by the issuing Central Bank, with things like Government debt/Bonds also feeding into the mix; Also currencies act as a clear dividing line between the different economies, with the strength of each currency determining the exchange value of imports and exports. Currency's values aren't based on belief, they're based on many different factors, but mainly on the strength of the economy covered by the issuing Central Bank.

Because Bitcoin doesn't have an issuer, it's just a free floating entity that isn't anchored to anything tangible, the only thing determining its value are the daily trades; Therefore it has no minimum or maximum valuation, hence the volatility in the price. Because BTC is traded across borders, any country deciding to use it as a treasury asset could easily end up stuck with an untradeable asset should the rest of the World disagree.