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brucey

Paying for transfer fees using cryptocurrency?

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Two interesting words 

experts predict '

these so called experts I remember  said the IT systems will collapse in  the year 2000 unless the government spents billions on there security systems and recently they said the UK economy and pound will crash if we vote Leave.

 

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15 hours ago, treer said:

All these posts stating that bitcoin is worthless and just a ponzi scheme are silly, know one knows, if you did know you would never have to work again.

If  leicester sold a player for bitcoin in 12 months time it could be a great sale or a giveaway who knows?

If Palace had paid in bitcoin for Schupp, we would have got the eqiuvalent of 200 million for him, puts him better than Neymar, now that would have been great business.

 

Think you’re missing the point there 

it wouldn’t be 12million bitcoin it would be to the value of at the time.

hope you don’t work in finance anywhere 

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6 hours ago, Monk said:

The volatility of bitcoin will calm down once it becomes more legitimised by major banks and governments - it's already happening. 

I would think another 3-5 years before clubs would do transfers using it - they wouldn't entertain the idea if volatility was as high as it is right now (which is still way less volatile than 6 months ago).

 

Why would governments allow people to pay their taxes in bitcoin when they can't control bitcoin's supply like they can with their own currency?

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3 hours ago, Foxxed said:

Why would governments allow people to pay their taxes in bitcoin when they can't control bitcoin's supply like they can with their own currency?

What governments allow taxes to be paid in bitcoin? Its less a problem of control of the supply more a problem if you’re planning on collecting £1bn in tax and it halves in value the next day. 

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4 hours ago, HankMarvin said:

Think you’re missing the point there 

it wouldn’t be 12million bitcoin it would be to the value of at the time.

hope you don’t work in finance anywhere 

could you explain please? I cannot follow what point you  are triyng to  make

Edited by treer
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20 hours ago, treer said:

All these posts stating that bitcoin is worthless and just a ponzi scheme are silly, know one knows, if you did know you would never have to work again.

If  leicester sold a player for bitcoin in 12 months time it could be a great sale or a giveaway who knows?

If Palace had paid in bitcoin for Schupp, we would have got the eqiuvalent of 200 million for him, puts him better than Neymar, now that would have been great business.

 

 

9 minutes ago, treer said:

could you explain please? I cannot follow what point you  are triyng to  make

It would be 12 million worth of bitcoin, at whatever rate its trading on the day

Not 12 million times  whatever they are worth

 

2400 bitcoin x today's rate £5000 = 12M

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10 hours ago, Finnegan said:

 

The only part of that that's not intelligent is picking Mexico which has bigger spiders. 

If I found out my house had a spider INFESTATION (just writing that makes me sweat) I'd get out the blow torch and book my flight to the Arctic circle quick sharp.

Interesting fact, did you know some species of wolf spiders live on the coasts of Greenland? :whistle:

 

7 hours ago, KJT said:

Two interesting words 

experts predict '

these so called experts I remember  said the IT systems will collapse in  the year 2000 unless the government spents billions on there security systems and recently they said the UK economy and pound will crash if we vote Leave.

 

Would that be the Y2K bug that globally cost ca. $300bn in preparation to make sure systems didn't go down? Yeah, damn those experts - we did what they said and what they warned would happen if we didn't didn't happen. Wait...

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1 hour ago, treer said:

thats the point, they would have had to give us more bitcoin because they were only worth £1200 at the time of transfer(nearly 10000 bitcoin)

10000 bitcoin x today's rate £5000 = 50m

not bad for old schullpy!!!

yes thats right good theory but the flip side is what about when it works the other way when we sell a player, as we have seen its not just a currency that rises

 

Hypothetically 

we could've sold DD for 30m at 20k per bitcoin on Jan 1st 2018

15000 bitcoins at the time

Todays rate we lost 22.5m on that transfer

 

Edited by HankMarvin
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Love the optimism of club. They can't even operate a basic website, what on earth makes anyone think that not only will they be capable of trading via crypto currency but more importantly that they'll be able to maintain a high enough level of security on their account to prevent it being hacked and having the funds stolen. 

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16 hours ago, KJT said:

Two interesting words 

experts predict '

these so called experts I remember  said the IT systems will collapse in  the year 2000 unless the government spents billions on there security systems and recently they said the UK economy and pound will crash if we vote Leave.

 

I must have imagined that bit ...................  also, we haven’t left yet btw ?

anyway, over the years I have learned that if you don’t fully understand something then don’t get involved in it. no one has ever been able to explain crypto currencies to me re their safety and control....... i’m Out!  

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21 hours ago, norwichfox said:

I don't have a fcuking clue what a craptocurrency is let alone bitcoin.

Let me clear it up for you.

A young boy asks his dad to borrow £20 in bitcoin.

“£19.43?” exclaims the Dad. “£21.79 is a lot of money. What on earth do you need £25.68 for?”

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17 hours ago, KJT said:

Two interesting words 

experts predict '

these so called experts I remember  said the IT systems will collapse in  the year 2000 unless the government spents billions on there security systems and recently they said the UK economy and pound will crash if we vote Leave.

 

People worked hard in the background to stop the 2000 glitch from happening!

The pound has taken a massive hit since voting leave! Which has caused food prices and everything else to go up! May not have been so drastic as they said but it’s still screwed us! 

 

And who knows how bad it will get until we actually leave! 

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On 21/08/2018 at 04:12, Foxxed said:

Pretty much. All successful Ponzi schemes have great PR too. I can also hear a thousand keyboard churning out articles on how bitcoin is the future since the premier league may start to use it.

The whole thing is just a ponzi scheme hidden behind technology that is distorted through journalism.

"You must buy some of Bitcoin! Their values is increasing all the time. Lots of people want them. The possibilities are endless! It's the start of a revolution."

"Sounds great! What can I buy with bitcoin?"

"Oh lots of things. Drugs. VPNs. Lap dances. There's a coffee shop in Bridgend that are trailing it too!"

"Oh nice, what about food, rent, taxes and healthcare."

"Oh no, not yet. But soon! It's the start of a revolution!

"Hey, would you like to buy some of my bitcoins? They'll only increase in value!"

"You do? Oh great!"

"Oh, perhaps you should tell other people how good Bitcoin is and maybe they'll buy yours for even more money!"

"Oh, did you hear about Etherum and Smart Contracts? It's the new thing man..."

To be fair "FIAT currency" is the greatest  scheme of all... but as we are all already in it, it gets ignored.

 

It can be as flexible as subject to adjustment as Crypto...but governments prevent it from happening. In time the crypto market will self regulate.

Edited by ozleicester
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