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Saturday, 03 March 2018 08:14

We apologise, now might be the time to buy into BitCoin after all

This site has been warning people for the last 6 months not to buy BitCoin, it’s not just a bubble, and it is an almighty mega bubble like the world has never seen. But something happened yesterday that might make us change our minds. Mark Carney the Chief Entertainer at the Bank of England warned people against buying it.

But surely if he is agreeing with us this makes our warnings more credible – right?

No No No, Mark Carney is the worst Governor of the Bank of England in the history of the organisation. The guy is a clown; he is simply the worst predictor of events since the press labeled the Titanic unsinkable. If Mr Carney is telling people not to buy BitCoin, then maybe they should start to consider doing so because this guy has never been right. Not a single one of his predictions as Governor has come true, or even been close to being accurate.

In 2012-13 Mr Carney predicted that interest rates would rise, it never happened and this site told you that he was wrong as he was telling you. It was obvious that rates would not rise. Carney told you that should the British vote to leave the EU, mega-tsunamis would wipe out civilisation the day after the vote – Never happened.

We now find it rather troubling that Mr Carney is agreeing with us on something. He has said that BitCoin should be regulated; there is no chance that this can happen. It’s not possible to do regardless of his rhetoric. The best that authorities can do is to regulate the way people buy in and cash out of BitCoin. They can prohibit banks and credit card companies from allowing payments to be made to merchant account holders who are using it to transfer to coins.

This isn’t a foolproof method but it would cause people enough of an inconvenience that they will think twice about using these cryptocurrencies types. At the moment, because of the complexities of cashing in and out of the coin. Users can lose in processing fees something like 20% of their cash from just buying in and taking that money straight back out.

At the moment our recommendation is to still stay out of BitCoin, but we are watching it closely now that the Chief Clown has given his views.

2 comments

  • Comment Link Saturday, 04 August 2018 02:30 posted by Nobby

    What on earth is going on with bitcoin these days. It's one big ponzi scheme but people seem to be still buying into it. The whole sales market is rigged, my advice would be to still stay out of it. It will come crashing down and the only people that will be able to get out will be the people who own the marketplace platforms. The rest will be stood outside watching their investments disappear before their eyes.

  • Comment Link Saturday, 04 August 2018 02:39 posted by Quint

    Mar Carney? I wouldn't take anything that man says as anything other than him making noise. He really shouldn't be taken seriously. Go back and listen to a real Governor like Mervyn King. There was a guy who was pragmatic and knew how to run the bank. Trouble with Mr Carney is that he is so full of himself, he thinks his job is to get into the media. From reading other sites on the web, I don't think many people take his financial predictions seriously.

    He is the boy that cried wolf

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