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  1. Kessler
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  3. 23-05-2021 16:47
Can you confirm whether something a poster on the independent cufc said regarding your consortium is correct


"The negotiations between the two sides had reached a point where somebody from the Holdings side contacted the individual members of the Lapping Consortium asking them to irrevocably commit their stated amounts of money. They refused to do so and you can ostensibly believe that the Holdings board quite reasonably instructed their legal team to formally terminate the entire matter.

But read on a bit. For a takeover to occur involving a consortium of more than 6 people those people have to be given a totally up-to-date prospectus by the consortium leader before they commit any funds. At this time Andrew Lapping was preparing this prospectus such that it was totally up to date and entirely accurate at that stage of the proceedings. "
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Conventional currencies have their problems but there's been nothing better in the last 2000 years. Yes you will have individual currencies like the Zimbabwe dollar or the prewar German Mark losing all their value but other currencies benefit as they become safe havens. Bitcoin is like a religion, it works if people believe in it. But if governments decide to tax it or ban its use then just believing in it won't be enough.


Governments do tax it already. In the UK bitcoin is subject to the same capital gains tax as any other asset and yet people still use it.

https://www.gov.uk/government/publications/tax-on-cryptoassets

I meet lots of people who buy Bitcoin, but hardly anyone who sells.Classic greed and pyramid.


Is it any more greedy than you buying £100 of Revolution Bars hoping it will jump to £300 just so you can sell it? You want to make a profit by buying an asset and selling it at a later date, so do they. The difference is simply the length of time you're both willing to wait.
References
  1. https://www.gov.uk/government/publications/tax-on-cryptoassets
  1. 01-06-2021 11:20
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I don’t crypto as an asset-its an imaginary thing based on pyramid selling, ultimately based on greed.It’s now a safe haven for tax evasion and of course international money laundering-you should be ashamed of yourself for participating in these activities with your morality
  1. 01-06-2021 11:45
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I don’t crypto as an asset-its an imaginary thing based on pyramid selling, ultimately based on greed.It’s now a safe haven for tax evasion and of course international money laundering-you should be ashamed of yourself for participating in these activities with your morality



But I'm not participating in tax evasion or money laundering. I saw a study a while ago concluded that criminals still prefer using cash rather than bitcoin for laundering. Because of how blockchain works there is literally a public ledger of every single bitcoin transaction ever made, and it's simply too much effort for them to try and obscure transactions on that public ledger compared to just using cash.

I know you don't regard crypto as a proper asset, but don't understand why you're calling people greedy for buying it in the hopes they can sell for a profit later. Is that not exactly what you're doing with Revolution Bars but on a shorter time scale? And anyway, if greed didn't exist there would be no capitalism so a businessman like yourself ought to be grateful that it does.
  1. 01-06-2021 12:18
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I don’t crypto as an asset-its an imaginary thing based on pyramid selling, ultimately based on greed.It’s now a safe haven for tax evasion and of course international money laundering-you should be ashamed of yourself for participating in these activities with your morality



But I'm not participating in tax evasion or money laundering. I saw a study a while ago concluded that criminals still prefer using cash rather than bitcoin for laundering. Because of how blockchain works there is literally a public ledger of every single bitcoin transaction ever made, and it's simply too much effort for them to try and obscure transactions on that public ledger compared to just using cash.

I know you don't regard crypto as a proper asset, but don't understand why you're calling people greedy for buying it in the hopes they can sell for a profit later. Is that not exactly what you're doing with Revolution Bars but on a shorter time scale?


The whole thing is unregulated...........
  1. 01-06-2021 12:16
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Kes in ‘money laundering and tax evasion’ shock.

Read all about it
  1. 01-06-2021 12:25
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  1. 02-06-2021 06:52
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3rd June

Laffy - £96.14
Kess - £94.53
  1. 03-06-2021 07:16
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After a bad start to the week, I'm just £1.31 behind Laffy now. How do people think this bet is going to go, can we get a poll up about who is favourite to win?
  1. 03-06-2021 17:00
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How about making your updates annually instead of daily!
  1. 03-06-2021 17:13
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After a bad start to the week, I'm just £1.31 behind Laffy now. How do people think this bet is going to go, can we get a poll up about who is favourite to win?


If I was interested I might Answer.
  1. 03-06-2021 17:40
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After a bad start to the week, I'm just £1.31 behind Laffy now. How do people think this bet is going to go, can we get a poll up about who is favourite to win?


If I was interested I might Answer.


It took you more effort to write that than what it would Laffy or Kess.

But I agree, the thread should be renamed kess/Laffy bet.
  1. 03-06-2021 19:35
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4th June

Laffy - £100.05
Kess - £90.63
  1. 04-06-2021 09:14
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Have you taken over Hyperdrive Kess?

Seems to have been sold.
  1. 04-06-2021 13:23
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Have you taken over Hyperdrive Kess?

Seems to have been sold.


Yeah it was a hostile takeover by my firm :D
  1. 04-06-2021 13:47
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See your hundred quids, how much commission do you have to pay for bitcoin / shares and has that been taken into account? I have to pay £12 a pop to buy / sell shares.


If not the whole thing is a sham and a farrago
  1. 04-06-2021 14:05
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See your hundred quids, how much commission do you have to pay for bitcoin / shares and has that been taken into account? I have to pay £12 a pop to buy / sell shares.


If not the whole thing is a sham and a farrago


Just the transaction fee with bitcoin, so add on maybe £1-2 more. Not sure about Laffy, depends on what platform he's using to buy and sell stocks. Some charge a percentage and others charge a flat fee. £12 a pop seems extremely steep unless you're trading significant sums, won't that eat up a large chunk of your profit?
  1. 04-06-2021 14:30
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See your hundred quids, how much commission do you have to pay for bitcoin / shares and has that been taken into account? I have to pay £12 a pop to buy / sell shares.


If not the whole thing is a sham and a farrago


Just the transaction fee with bitcoin, so add on maybe £1-2 more. Not sure about Laffy, depends on what platform he's using to buy and sell stocks. Some charge a percentage and others charge a flat fee. £12 a pop seems extremely steep unless you're trading significant sums, won't that eat up a large chunk of your profit?


It gets worse, I'm with equiniti and they've just flogged the accounts to some other firm that are going to charge the same per trade and a 7.99 monthly fee :-@ time for a crest form
  1. 04-06-2021 21:28
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See your hundred quids, how much commission do you have to pay for bitcoin / shares and has that been taken into account? I have to pay £12 a pop to buy / sell shares.


If not the whole thing is a sham and a farrago


Whenever I think of the word farrago the first thing that comes into my mind is the show 321, it fits the word perfectly.
  1. 04-06-2021 22:14
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I trade in some exotic stuff so use Soc Gen in London for execution only-more expensive but often need access to the market makers
  1. 05-06-2021 08:37
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Morning. 7th June

Laffy - £97.01
Kess - £89.82
  1. 07-06-2021 10:30
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I trade in some exotic stuff so use Soc Gen in London for execution only-more expensive but often need access to the market makers


Which brokers would you recommend? I've always said that picking individual stocks is risky and I still think it is, but I've been looking into it a bit more recently and considering whether to take on a bit more risk. But one of the issues I'm seeing is the associated costs. AJ Bell charge £9.95 a trade, Hargreaves Lansdown charge from £5.95 to £11.95 a pop depending how much trades you've made in the previous month. If you're investing significant amounts then those fees probably aren't a concern, but with the relatively small amount I can afford to invest those fees would eat up a big chunk of any return I make.
  1. 07-06-2021 10:49
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I would use an execution only broker-I have a relationship with Charles Stanley who charge a flat 0.4pc per trade.Still on expensive side but I prefer to trade with someone I can speak to
  1. 07-06-2021 11:57
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Well done Laffy, especially in this environment.
Could someone post an article that shows the background. Can't seem to find one, and don't want to wait for the Carlisle Glass Bugle monthly newsletter.
  1. 07-06-2021 12:43
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There is a big PR push later this week
  1. 07-06-2021 12:59
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I would use an execution only broker-I have a relationship with Charles Stanley who charge a flat 0.4pc per trade.Still on expensive side but I prefer to trade with someone I can speak to


AJ Bell and HL do seem to be execution only....

A broker that charges percentages seems like it would be better for me then. You'd need to be buying over £2.4k per individual trade for the 0.4% to work out cheaper than a flat £9.95 fee and I can't really afford that :D .
  1. 07-06-2021 15:34
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8th June

Laffy - £102.66
Kess- £81.34
  1. 08-06-2021 20:52
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9th June

Laffy - £104.40
Kess - £84.04
  1. 09-06-2021 11:39
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10th June

Laffy - £104.40
Kess - £94.80
  1. 10-06-2021 11:25
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Who gives a sh*t
  1. 11-06-2021 10:07
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11th June

Laffy - £100.05
Kess - £91.80
  1. 11-06-2021 10:19
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15th June

Laffy - £91.79
Kess - £100.80

I'm starting to pull ahead. :D
  1. 15-06-2021 19:56
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15th June

Laffy - £91.79
Kess - £100.80

I'm starting to pull ahead. :D


Oh get a life!
  1. 15-06-2021 20:10
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16th June

Laffy - £91.35
Kess - £97.09
  1. 16-06-2021 15:27
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Anyway Laffy are you doing Ride to the Sun next saturday night.
  1. 17-06-2021 17:22
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Even a broken clock is right twice a day Kessler
  1. 17-06-2021 17:47
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Even a broken clock is right twice a day Kessler


Right and if Laffy wins the bet will you dismiss that as a broken clock being right twice a day too?

While the bet is meant to be a bit of fun, I'm hoping it can also prove a learning experience for all. Laffys choice of investment has encouraged me to read up more about penny stock investments, something I have always been against due to my preference for passive investing. At the same time I'm hoping Laffy may realize that maybe us socialists do just know a thing or two about finance and aren't clueless, as he seems to always imply.
  1. 17-06-2021 18:00
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ccu
Site Admin
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Need to watch ‘Wolf of Wall Street’ again sometime…
  1. 17-06-2021 18:04
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Need to watch ‘Wolf of Wall Street’ again sometime…


It was an interesting film but I prefer books. Laffy you ever read the Wealth of Nations?
  1. 17-06-2021 18:11
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At the same time I'm hoping Laffy may realize that maybe us socialists do just know a thing or two about finance and aren't clueless, as he seems to always imply.

Yep, all socialists do know a thing or two about finance.
‘I know how to spend your money better than you do’ is the socialist financial model. But let’s not forget the money tree.
Gordon Brown was a great believer in both.
  1. 17-06-2021 18:49
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Need to watch ‘Wolf of Wall Street’ again sometime…


More like 'Rogue Trader' - Do you reckon this is why Kes wants to be Laffy's financial adviser, a budding Nick Leeson :o

Nick Leeson is minted these days strangely enough.
  1. 17-06-2021 18:58
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MRF-I’m down to do the ride but just come back from Mallorca and now incarcerated for 10 days so cant do it-wind is SE which will help the peleton.I paid £6 for my Ryanair ticket and there were 11 on the flight-how does that make sense?

Kes-I cannot think of one socialist society which has not run out of money or where the population are genuinely happy.As Maggie said, the problem with socialists is they always run out of other people’s money.

I haven’t read Wealth of Nations-my favourite books are When Money Dies, Greed is Dead, The Future of Capitalism, and lastly The Upside of Down.I make a point of reading the first and last at least once every couple of years.

Since the Hyperdrive deal was announced, it’s amazing how many people have come out of the woodwork offering their services.Worse still, the number of professionals claiming to be involved in the transaction rivals the ‘I was there’ Sex Pistols first concert in 1976.
  1. 17-06-2021 20:23
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Kes-I cannot think of one socialist society which has not run out of money or where the population are genuinely happy.


That's because whenever there is one, the US military industrial complex sees it as a threat and relentlessly attacks and destabilizes it. Big part of the US hegemony relies on people believing there is no alternative to capitalism. Remember when the US sent "humanitarian aid" to Venezuela and it was captured and revealed to be small arms and ammunition to be given to terrorists who were trying to topple the government in Caracas?

I haven’t read Wealth of Nations-my favourite books are When Money Dies, Greed is Dead, The Future of Capitalism, and lastly The Upside of Down.I make a point of reading the first and last at least once every couple of years.


I'd also recommend Debt: The First 5000 Years.
  1. 17-06-2021 22:30
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Morning

18th June

Laffy - £95.70
Kess - £95.36
  1. 18-06-2021 10:13
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MRF-I’m down to do the ride but just come back from Mallorca and now incarcerated for 10 days so cant do it-wind is SE which will help the peleton.I paid £6 for my Ryanair ticket and there were 11 on the flight-how does that make sense?

Kes-I cannot think of one socialist society which has not run out of money or where the population are genuinely happy.As Maggie said, the problem with socialists is they always run out of other people’s money.

I haven’t read Wealth of Nations-my favourite books are When Money Dies, Greed is Dead, The Future of Capitalism, and lastly The Upside of Down.I make a point of reading the first and last at least once every couple of years.

Since the Hyperdrive deal was announced, it’s amazing how many people have come out of the woodwork offering their services.Worse still, the number of professionals claiming to be involved in the transaction rivals the ‘I was there’ Sex Pistols first concert in 1976.



I was there :D :D :D
  1. 18-06-2021 10:27
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MRF-I’m down to do the ride but just come back from Mallorca and now incarcerated for 10 days so cant do it-wind is SE which will help the peleton.I paid £6 for my Ryanair ticket and there were 11 on the flight-how does that make sense?

Kes-I cannot think of one socialist society which has not run out of money or where the population are genuinely happy.As Maggie said, the problem with socialists is they always run out of other people’s money.

I haven’t read Wealth of Nations-my favourite books are When Money Dies, Greed is Dead, The Future of Capitalism, and lastly The Upside of Down.I make a point of reading the first and last at least once every couple of years.

Since the Hyperdrive deal was announced, it’s amazing how many people have come out of the woodwork offering their services.Worse still, the number of professionals claiming to be involved in the transaction rivals the ‘I was there’ Sex Pistols first concert in 1976.



I was there :D :D :D


No you weren't.
  1. 18-06-2021 10:52
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