Originally posted by FrontEnder
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Cryptocurrency
Collapse
X
Collapse
-
-
Originally posted by scooterscot View PostThen keep paying your taxes to support people who cannot afford their homes and be happy. You are literally propping up the wealth of home owners with your taxes. Rather incredible really.
For as long as a private entity controls your wealth it is a glorified Ponzi scheme.Comment
-
Originally posted by northernladyuk View PostA new startup is not a 'non-existent enterprise'.Comment
-
Originally posted by FrontEnder View PostNeither is bitcoin/blockchain/cryptocurrency...Comment
-
Originally posted by scooterscot View PostThen keep paying your taxes to support people who cannot afford their homes and be happy. You are literally propping up the wealth of home owners with your taxes. Rather incredible really.
For as long as a private entity controls your wealth it is a glorified Ponzi scheme.
What you describe won't fail as more cash can always be printed. You're describing monetary policy. It's many things but not a Ponzi scheme.See You Next TuesdayComment
-
Originally posted by northernladyuk View PostBitcoin creates nothing but a certificate. If a startup just produced share certificates what would we call it? Anyway, can't argue with the kool aid addicts, so keep on at it.
Blockchain clearly has plenty of uses. I kind of see bitcoin/crypto more as a replacement for banks than a replacement for FIAT currency. You pay money into a bank, you put a lot of trust in that bank to keep an accurate ledger of what is in your account.
Plenty of examples of banks losing peoples money. Blockchain removes the trusted 3rd party from the equation.Comment
-
Originally posted by Lance View PostA Ponzi scheme, by its very definition, cannot create new cash. It relies on people volunteering more cash which is used to pay the earlier people. A Ponzi scheme WILL fail when the cash-outs are greater than the cash-ins.
What you describe won't fail as more cash can always be printed. You're describing monetary policy. It's many things but not a Ponzi scheme.
The BoE is volunteering more cash on your behalf to prop up the perceived overall wealth?
It is the same thing by another name."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
-
Originally posted by scooterscot View PostTax payers are volunteering more cash are they not?
Just forget about comparing monetary policy to a Ponzi. It's a bad comparison and you're not making it a good one by persisting with it.See You Next TuesdayComment
-
Originally posted by Lance View PostI don't volunteer as such. It's the law. A Ponzi is against the law.
Just forget about comparing monetary policy to a Ponzi. It's a bad comparison and you're not making it a good one by persisting with it.Comment
-
Originally posted by Lance View PostI don't volunteer as such. It's the law. A Ponzi is against the law."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
Partners
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment