S&P 500 cash weekly competition for 2017 with PRIZES!

I think those housing numbers look awfully like not good news to me.

Given the tech situ and rate hike with poor housing we have just the right ingredients for the SPX to make new highs :cheesy:


Wish I went long :whistling
 
NickBk said:
Preaching to the converted I know

http://www.marketwatch.com/story/st...e-garbage-2017-06-15?mod=MW_story_top_stories
Click to expand...

Its a sensationalist article.
There are no facts in it just opinions. And saying something is no good because one person cant explain why it is good is poor logic.

"You: So what’s the purpose of bitcoin?
Fan: The technology is absolutely amazing!
You: Yes, but what’s it for?
Fan: Really, the “blockchain” technology is a total masterpiece, way ahead of its time!
You: Yes, yes, I understand that. But what is it actually for?
Fan: You don’t understand! It’s a completely decentralized money system! Totally revolutionary!
You: Honestly, does it have a purpose? Any purpose at all?
Fan: It’s the wave of the future!
And on it will go."

In answer to "So what’s the purpose of bitcoin?" a realist (not a fan) would tell you
1. You can transfer value from one person to another anywhere in the world instantly, and you dont need a bank account or have to pay exorbitant fees to do it.

2. Its an inflation regulated currency. There are a certain number in existence and only a regulated number will be added in the future. Once it finds its value it will be stable.

9 minutes on bitcoin.
Where else will you find Bill Gates and Max Keiser on the same video.

Whats wrong with Warren Buffets view of bitcoin.
"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."

The same could be said of the dollar, it has no intrinsic value, any Bank can 'create' dollars out of thin air by 'lending' imaginary money to people and charging them interest on it. Thats why the US debt is $19 TRILLION dollars. No way can that EVER be paid off. Its as much of a fugazi as Bitcoin.
Also it is Better than the dollar because it cant be faked. No one knows how many fake dollars there are in the world but its got to be a BIG number and yet you cant fake a bitcoin transaction.

Just my opinion.

However ask me "Do I have any bitcoin" - the answer is no. :)
 
postman said:
Its a sensationalist article.
There are no facts in it just opinions. And saying something is no good because one person cant explain why it is good is poor logic.

"You: So what’s the purpose of bitcoin?
Fan: The technology is absolutely amazing!
You: Yes, but what’s it for?
Fan: Really, the “blockchain” technology is a total masterpiece, way ahead of its time!
You: Yes, yes, I understand that. But what is it actually for?
Fan: You don’t understand! It’s a completely decentralized money system! Totally revolutionary!
You: Honestly, does it have a purpose? Any purpose at all?
Fan: It’s the wave of the future!
And on it will go."

In answer to "So what’s the purpose of bitcoin?" a realist (not a fan) would tell you
1. You can transfer value from one person to another anywhere in the world instantly, and you dont need a bank account or have to pay exorbitant fees to do it.

2. Its an inflation regulated currency. There are a certain number in existence and only a regulated number will be added in the future. Once it finds its value it will be stable.

9 minutes on bitcoin.
Where else will you find Bill Gates and Max Keiser on the same video.

Whats wrong with Warren Buffets view of bitcoin.
"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."

The same could be said of the dollar, it has no intrinsic value, any Bank can 'create' dollars out of thin air by 'lending' imaginary money to people and charging them interest on it. Thats why the US debt is $19 TRILLION dollars. No way can that EVER be paid off. Its as much of a fugazi as Bitcoin.
Also it is Better than the dollar because it cant be faked. No one knows how many fake dollars there are in the world but its got to be a BIG number and yet you cant fake a bitcoin transaction.

Just my opinion.

However ask me "Do I have any bitcoin" - the answer is no. :)
Click to expand...

I think they are all nuts, when the world collapses how will you use your bitcoin when the internet won't be working? That's why we have gold I thought.
Makes for some fun trading, though the spread is a bit cheeky.
 
NickBk said:
I think they are all nuts, when the world collapses how will you use your bitcoin when the internet won't be working? That's why we have gold I thought.
Makes for some fun trading, though the spread is a bit cheeky.
Click to expand...

Well you can take that one step further and ask why the Aztec's had no value for gold coz they didn't have any use for it.

Couldn't eat it. Drink it. Even a dead leaf had more value for wiping ones back side. You can also forage some leaves and make hot soup. Tea even :idea:

Hopefully green leaves with no brown bits. ;)
 
Atilla said:
Well you can take that one step further and ask why the Aztec's had no value for gold coz they didn't have any use for it.

Couldn't eat it. Drink it. Even a dead leaf had more value for wiping ones back side. You can also forage some leaves and make hot soup. Tea even :idea:

Hopefully green leaves with no brown bits. ;)
Click to expand...

True enough, like I said the other day I maybe wish I was young enough to think it was a great idea. To me it's a fast cheque book that ultimately has to be converted back to readies and I think it's quite a way off before the whole world unites under Bitcoin or any of the other ones. They are all nuts....
 
NickBk said:
True enough, like I said the other day I maybe wish I was young enough to think it was a great idea. To me it's a fast cheque book that ultimately has to be converted back to readies and I think it's quite a way off before the whole world unites under Bitcoin or any of the other ones. They are all nuts....
Click to expand...

It must be tough using that abacus when you are so old your fingers are arthritic. :LOL:
 
S&P playing around the unchanged level.

How are you feeling about a down week Atilla?
 
Well done to the A-Team as Weighted Average takes first gold of the year. :clap::clap::clap:
About time really given all the forecasting brains on our league table ;)

Postman takes silver spoon and Lexcorp the bronze bucket. (y)(y)
Equally good calls given how fickle SPX is these days.

Bulls did well with their SPX call given the wobbles in tech stocks. Well done to you all. :)


The top of competition table has changed considerably with Postman increasing his lead and Mean Average two points behind him. Lex has also moved up into third spot. Two weeks to go with 8 points on the table anyone of 8 top players still has a potential chance of winning the competition.


Write up goes to Postman as Weighted Average can't shout out all at once ;)
 

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NickBk said:
True enough, like I said the other day I maybe wish I was young enough to think it was a great idea. To me it's a fast cheque book that ultimately has to be converted back to readies and I think it's quite a way off before the whole world unites under Bitcoin or any of the other ones. They are all nuts....
Click to expand...



Also don't forget that Bitcoin has a relationship with the price of electricity, eventually they will be so difficult to 'mine' that it won't be cost effective, never mind the ecological cost of running data centres worth of machines just for mining purposes.
 
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