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mad_manx

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About mad_manx

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  1. Storage vs ownership matters. For example you might have 1 BTC visible in your wallet. But if someone else gets your private keys they can put it into their wallet and access that crypto. This is why you should never give your private keys to anyone. In the fiat World if you feel that your online banking account password has been compromised you can change it or contact the bank etc You cannot do that to a crypto wallet if the private keys have leaked.The only safe option is to move the crypto ASAP to a brand new wallet . People need to understand this before gett
  2. Another thing to remember is that when you talk about someone having a cryptocurrency in a wallet it actually doesn't mean that. What it actually means is that they have ownership of the crypto. Even many people who think they know crypto well do not understand the basics of cryptocurrency All cryptocurency like for example bitcoin exists on the blockchain.. Think of the blockchain like our land registry office. If you own a house here your ownership will be recorded in the land registry. So if someone contacts them this can be confirmed In a similar manner all
  3. I understand your point of view as you are "no coiner" and you are obviously worried about historical asset bubbles like the Tulip bubble. Magic beans is another example of the same Now the question is whether these asset bubbles would have happened if people would have known how many tulips existed ? Or how many magic beans existed. Most of us believe that gold and diamonds are stores of wealth. At some point someone discovered the shiny metal and got someone else to agree to use it as a medium of exchange of goods. How do yo
  4. We are in the Isle of man. There is no capital gains tax here. In the UK you will end up owing the HMRC tax on the gain when you sell.
  5. Not really a password. It's a passphrase . A collection of 12( usually ) random words that you can securely store somewhere and acces your wallet / funds with Basically these words generate the private key when entered into a wallet ..so the collection of words have to be kept securely. If someone gets your passphrase/ private keys they can steal your crypto. Its great being able to control of your funds just with that . No banks/ financial institutions can touch it and there is no limit to the amount of funds you can hold on one wallet .
  6. Majority of the Euro ( or pounds or dollars for that matter ) do not exist as paper notes or coins. They are all created on computers and transferred electronically. They make bitcoin and other crypto look tame when you think about it .
  7. Assume that you used a UK address for starling..They do not allow iom residents to set up accounts ..
  8. Most people do not think of BTC as a currency these days. Its too slow and expensive to transfer funds. It is considered more as an asset these days (like gold /art etc) .Lots of institutional buyers stepping in. These days most people use stablecoins like USDT to transfer funds if needed. USD tether is pegged to the USD Some of the versions can even be transferred from wallet to wallet ( across the world ) in seconds with a fee of around 1 p (0.01 GBP) . :-)
  9. Isn't that that same for anything money can buy including gold / diamonds etc All based on supply and demand and the faith of the people who hold it.. Till the mid 1800's aluminium was more expensive than gold. Cheap extraction techniques reduced the price. https://www.theatlantic.com/technology/archive/2014/11/aluminum-was-once-one-of-the-most-expensive-metals-in-the-world/382447/ Same with diamonds. Supply is very controlled to keep prices in check. If someone identifies a technique to isolate gold from sea water ( plenty of gold there) gold p
  10. I've had an amex plat charge card for around 8 years now with an iom address.. I took the charge card as like to pay the balance in full every month and they were brill during the cancellations due to covid . They have not sent me any notice yet.
  11. Is this about amex branded cards or the cards directly from amex ?
  12. Havent flown to LHR but is it possible to transit security between terminals there without clearing security again (if on a connecting flight departing from LHR?) MAN was very good that way when flybe was around Land in T3 from IOM show your ticket and walk into T1 departures if you had an onward flight from T1
  13. Absolutely. For example it's now possible to pay with a card in almost all local shops. I think over the last few months I've had to pay with cash only once .
  14. Was that person covid positive ? . It is the covid positive patients who will have the problem. I've heard that the air ambulance will not transport covid positive patients anyway..
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