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Posts posted by Martlet

  1. 6 hours ago, HelpingHands said:

    It's not fiat, that's the benefit.

    That's meaningless to the average person, who gets paid on 30th, pays some bills, goes the shops, pub, day out, etc, and spends most their income within a month.  Cash/card comes out their pocket, their balance is altered, the technical back end is irrelevant to them. 

    Besides it is fiat, without intrinsic value and created from nothing by a program.  Want more money, just fork a coin, see Bitcoin Cash, Bitcoin SV, and so on. 

  2. Bitcoin has a use for transfers but i'm not convinced on its long term use (despite spending a lot of time watching the markets).  Most of the benefits are isolated for small groups, particular scenarios.  There is no fundamental benefit for Bitcoin over cash or cards, for the vast majority of people, and the infrastructure gets in the way.  However cypto tech is going to have influence in the future. The emerging STO class (security tokens) is interesting, opening up investment to a wider audience.  More common will be use in online games for trading, proof of rarity for valuable items. 

    One thing that always gets me thinking is the basic economics.  Currently value is being driven by speculation, if you actually use the currency there is an immediate selling pressure from people liquidating to local currency.  Unless there are entire supply chains, business, workers, shops and services, making a transition to Bitcoin/other crypto, it doesn't gain real use. I dont see how it does that, chicken and egg situation. One day everyone will wake up to the false premise of bitcoin having any store of value, the limited supply and deflation are contradicted by they many thousands of other cyprocurrencies.  May as well use leafs. 

    But until that realisation, ride the train hopefully theres one more big pump ;)

  3. 8 minutes ago, Lowlow said:

    That may be true in the UK for UK citizens ..

    Here in the U.S. we have the 1st amendment to the U.S. Constitution.  That document does NOT "give" us the right of free speech.  It follows the precedents established by the Enlightenment, that men are born with inalienable rights, meaning they are intrinsic, or natural, and that a human being has the right to speech the same as they have the right to breath, simply by virtue of being born into this world.  This is based on natural law, that creatures (even humans) have certain basic rights simply because they exist, and our Constitution is meant to protect those rights, not "grant" them.  Our Bill of Rights and Constitution is not a charter saying what rights the government is giving its people, it is a document RESTRICTING THE GOVERNMENT and what the government has the right to do, and says clearly that any right not EXPRESSLY given to the government are by default rights of the states or the people.  The people have all the power, the government only has what power is explicitly given to it by the people.

    In the U.S. people believe they DO have the power and the authority to uphold them ...

    Its nice that it calls the rights inalienable, having them written down in a form of contract and a body to observe them, moves them from natural to civil/legal rights.  Many philosophers have argued eloquently about natural laws always with the same flaw unanswered - who enforces those rights?  Who ensures the government, institutions or individuals respect those rights?  Well they do.  We establish constitutions, governments, courts to uphold the rights we want to mutual benefit.

  4. 9 minutes ago, Lowlow said:

    Free speech doesn't come from the state, individuals, or organizations ... it comes from God.  You were born free on this earth the same as any squirrel, deer, bird in the sky, or fish in the sea ... and other people have no more right to tell you what you can and can't say as they do to tell a squirrel where it can bury its nuts, or a bird which tree branch it can land on.

    Tell that to the church.  Rights come from the whoever have power and authority to uphold them. 

  5. 3 hours ago, BackyardBullion said:

    Yes indeed

    Sounds like a nice loophole for those those that can exploit it.

    Should it be allowed at all is the question. Seems a little unfair that someone earning £150,000 per year pays only 7.5% tax compared with your average tax payer in the UK.

    Sort of, the money usually only stays untaxed if it remains offshore.  Bring onshore and taxes become liable.

  6. 2 hours ago, TeaTime said:

    Lately the RM seem to be adding extra (in my opinion unnecessary) extra detail to the coin fields which seem to clutter the coin. I'd be tempted by this if they removed the 'clouds' and 'sunbeams' and whatever the horizontal lower field squiggles are supposed to be.

    Agree, stylistic flourish that doesn't add anything to a great main design, and may put some off.  I note the Perth mint doing similar with the Kook, so i expect this to be a trend for a few years.

  7. Im not sure where the rumour has come from that Rwanda packaging has PVC, i dont believe it has been confirmed.  It would seem odd for a mint to use this plastic when so many others are available.  I wonder though if remains sealed would it react without any air?  I have not seen any reaction in mine, albeit only couple years old now. 

    Oddly though, those i've encapsulated do show signs of tarnish around rim and edges, when other similar aged coins do not.  PVC residue causing reaction?


    3 hours ago, Pipers said:


    I have no doubt as soon as the shackles off been removed by leaving Europe, one of the first things the Tories will do is increase VAT in increments up to 24-25% .  VAT is one of the Conservatives favourite taxes. 


    An odd view, traditionally Conservative are against tax in general. VAT served a useful tool to move where taxation occurs.  Future i would expect income tax reductions from reducing state expenditure, not raising VAT which would be a big vote loser. 

    1 hour ago, mr-dead said:

    Large Tory donators are now in constructive talks with the Brexit Party.

    Brexit Party is a one man band with one issue, not a broad policy party needed to run the country. The rump of donators, individuals and big business are are as likely to be remainers as leavers.  A few headline leavers might want to indulge Farage but they'll soon abandon this for GE if it looks like splitting the centre right/right vote and allowing anti-business and wealth Labour in. 

  9. 2 minutes ago, BackyardBullion said:

    This was advertised like every other coin on their site - Condition: New.

    Interestingly I have checked back on their site just now, the premium compared with other 1 oz platinuim coins has been reduced from +€50 to only +€12 so maybe they heard what I was saying when I moaned at them via email. 

    Still, it says "New" which comes back to the "its just bullion" defence. They got it like this from the Royal Mint.

    If they changed the price think i'd be looking for a discount on the purchase or credit.  

  10. My view is there is a weak correlation and AGW should be considered, lightly. The data has been grossly distorted, on both sides, so its virtually impossible to know anymore what is authentic information.  The poster child, the hockey stick graph does not match CO2 rises, so this makes me sceptical, along with decades of predictions that have not been proven.  On the other hand we're already reducing CO2 by being more energy efficient, and if we make less pollution and have cleaner air as a result, that in itself is something to sign up to. 

    There is a lack of scientific rigour to the information and theory though, in other fields it would have been thrown out or restated at least, not renamed and double-down.  A great number of scientists have discovered a source for funding if they are on message (or find its not available if off message), often non-climatologist will stress the importance of reducing CO2, and i wonder how they would feel if climatologists weighed in on their field. 

  11. 4 hours ago, Michal said:

    True but people buying ETF and all other paper silver think they are actually buying/investing in silver so not taking that under consideration is like measuring iceberg from sea level to the top.

    That may be the case with retail investors, i would expect the vast majority of trade in ETF and similar are by banks and institutions well aware of the nature of the instruments.  Either way, such instruments arent counted in market cap, futures in Apple or Vodafone dont count in the market cap for Apple or Vodafone.  It isn't ignored, it shows up in measures of that derivative market and other market data. 

  12. The Silver Institute reports between 684m toz and 895m toz mined a year past 10 years.  This cross checks (with some margin of difference) to numbers from USGS.  Thats about 8bn toz out of the ground in 10 years and not counting rest of history.  Reporting beyond this is unreliable with lots of estimates, with how consumption in industry, in bullion, jewellery or silverware affecting how much is "available" in the market.  I see one estimate (JM Bullion site) reckon there's 5bn toz available, seems on low side given this is about what we have from just the past 10 years in bullion, jewellery and silverware, but in the ball park. 

    So that gives a range of 75-120bn market cap, if the market is the amount that is available. High $trillion estimates are counting the turnover of ETFs, options etc, and we wouldnt normally count that as market capitalisation. 

  13. For anyone concerns about Transferwise or Revolut, can say they are both easy to use and useful if ever wanting currency transfers for other purposes.  Transferwise is easier for me as its PC browser based, better UI, and you can fast payment from debit card for about £1 added fee - no waiting a day for bank transfers to the account.  

    On subject of European Mint, some feedback if you can encourage them to expand their selection, particular the Rwandan series and Libertad are noticably missing. 

  14. Sounds like the problem isn't Ebay/UK per se, instead the business model of selling small value items on a relatively high rent service that's had a significant change with VAT status.  I suspect many sellers aren't VAT registered to worry about that cost, work around, or scale up to compensate.  Isnt the VAT on ebay, paypal fees reclaimable and post zero rated?  I often wonder buying small items for >£2 how the seller is making any money, buy bulk at sell higher margin with minimal overhead doesnt seem enough unless its a hobby or high volume.  After all that is the (original) market for Ebay, hobby sellers and online car boot sale. 

    And yes, many say VAT is a tax on business because its transparent to consumers even if incident is upon them. Not unique to UK or Ebay. 

    5 hours ago, AppleZippoandMetronome said:

    ...Thankfully there is another dedicated marketplace for what I sell and over the last couple of years I have moved most stock over there. On that platform I'm not forced to provide "free" shipping and the fees are halved.

    Is this a secret marketplace?  Reason Ebay is so dominant is lack of traction of alternatives, they dont seem to have the volume to attract sellers, so dont attract enough buyers, so... around it goes. 

  15. Not surprised, my first thought on the VAT was the group order would be complex and likely to go.  One thing though with European Mint, as there is no input VAT,  you're not allowed to charge VAT (as i recall from my dealing with VAT).  For Goldsilver the same applies on input VAT, but its muddy method they use and perhaps something you dont want to argue with HMRC.