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JamesYellen

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Posts posted by JamesYellen


  1. I saw an interesting tweet from Simon Dingle saying it has to do with pressure from JP Morgan Chase.

     

    Here is the tweet: 

     

    Surprising that this hasn't been reported on, but the real reason @FNBSA is closing down cryptocurrency exchange accounts is simple: because JP Morgan told them to. This has nothing to do with AML, and everything to do with anti-competitive moves by a US bank.

     

    FNB is a JP Morgan corresponding bank and JP Morgan has its own blockchain projects. They have a stance against true, decentralised cryptocurrencies like Bitcoin and, like American Express spreading lies about Bitcoin's energy usage, JPM is playing dirty by closing down on-ramps.

     

    This isn't just my opinion. I hope journalists pick up on the real story and confirm it for themselves. This also has nothing to do with the South African Reserve Bank, or the other banks in the country. Just one lapdog doing as its told, and being disingenuous about it.

    • Like 1

  2. I did not vote for them (Chances of a small party with limited funds winning a large enough margin is too slim), but I kind of hoped they would be able to secure a seat. 

    Do you guys think they will be around for the next election, got the idea they (Duncan and Kanthan) just tried their luck to get a seat to put some ideas forward in parliament, but they are not really intending to start a political career.


  3. They keep posting on Twitter, but I have not seen a launch date yet. 

     

    I am curious to see what Micheal and the rest ex FNB guys can come up with, TymeBank is really incredible and Capitec can adapt if they must. So is that 'unbanked' space big enough for another entrant? 

     

    Bankzero will never compete in the FNB level, at least I doubt it and there Discovery Bank is going to make a dent. I am very excited about their launch and to see what they can offer and if they will enter the business banking space currently dominated by FNB. 

     

     

    • Like 1

  4.  I wish this would be a separate division. That black only scheme is going to cause turmoil.

    I can completely imagine white discovery insurance holders and businesses pulling their accounts as protest/spite/fck u to bee/insert reason.


  5. An initiative calling itself SA Fuel War has launched a campaign to protest petrol price hikes in South Africa through activism that aims to reduce the amount of money the government generates through the fuel levy.

     

    It is asking commuters who travel to work in private cars to work from home for 10 days, beginning on 5 November. It is also appealing to employers to allow their staff to work from home during that period.

     

    “This is just the first phase,” SA Fuel War organiser Craig Berman told MyBroadband. The aim with the initial push is to show the powers that be that SA Fuel War means business.

    Berman said that the short-term aim is to sign up 70,000 to 100,000 by 4 November, some of whom will be able to commit to work from home between 5 November and 16 November.

     

    From there they will continue focusing on recruiting supporters until the end of January. This will give motorists and their employers time to make the necessary arrangements to allow them to work from home for longer periods.

     

    Unless the government takes steps to drop the petrol price before the end of January, Berman said they will launch a war of attrition by strangling the supply of fuel revenue.

     

    The war


    “We cannot simply park our cars on the freeway and walk home like they did in Germany to protest the fuel hikes there. We’d put most of the insurance companies out of business,” added SA Fuel War.

    “What we can do is engage in a war of attrition.”

     

    SA Fuel War argues that private motorists, especially those who commute to work on a daily basis, represent a significant chunk of fuel revenue and tax income via the fuel levy.

     

    There are over 7 million passenger cars registered in South Africa, according to statistics from eNatis for September 2018. The Department of Energy reported that by the end of June, over 6 billion litres of petrol had been sold in South Africa and almost 5.6 billion litres of diesel.

     

    “We, as the public with the most number of cars, buying the most fuel, and paying the most in fuel levies are the majority,” SA Fuel War said.

     

    If a reasonable proportion South Africa’s motorists band together and reduce the amount of fuel they consume in a month, the government will feel their combined efforts in its pocket.

     

    With enough people, just reducing your fuel consumption from one 45 litre tank per week, to one tank of petrol per month, will result in an oversupply of fuel and a significant deficit in fuel levy income.

     

    “What do you do with a surplus of 800 million litres of fuel? You have to drop the price,” said SA Fuel War.

     

    The aim of SA Fuel War is to get the government to drop the petrol price to R12 per litre. If the price is not dropped, the organisation will begins its war of attrition, said Berman.

     

    Source: Mybroadband


  6. I overpaid for some of my BTC in December...

     

    Joffe will be fine, I think he probably don't mind paying a bit of a premium considering he wants to make a lot of deals fast and he knows some will take that into account and to close the deal these deals he is not in the driver seat so he needs to put a little more cash on the table, but at the end of the day the end goal is clear in L4L.

     

    I hope they pick up growth over the next 3 years, SA's economy is in the bucket so if they dig down now and make it work in these troublesome times, imagine the upward possibility once the economy recovers and people are willing to spend more again.


  7. On the cutting of expenses:

     

    I do not currently own a house yet, so I switched from Absa to Capitec for my banking (saved like R180 p/m).

    I switched to Telkom Freeme from vodacom so there I save around R280p/m (vodacom contract used to be R599 p/m), the FreeMe 2GB contract is more than enough for me.

    Next up is reviewing my medical aid, the thread from Ranger, made me think about my own medical aid (discovery, very expensive).


  8. I do not see DSTV surviving without some BS government restriction on Netflix in South Africa - It will probably be done under the banner of "saving jobs".

     

    Showmax, will never be able to catch up because they do not have the money to spend on infrastructure what Netflix does. You know those funny buffering and stuff, edge nodes, CDNs and other technical stuff that costs a metric ton of money is what Netflix invests in. Same reason Youtube is so strong, the amount of money they spend on infrastructure to streamline the data delivery creates a major barrier to entry and competitive edge.


  9. I've been trading the wedge lately -- for the past 3 months, been really accurate so far.

     

    With that said, I think we are now heading into the spiral territory, so I am out of the trades, sitting on cash.

     

    I will put 20% in if we dip to $4900 and then 15% for every $300 below that.

     

    (This is just trading, my long-term portfolio is still hodl for the moon, I did not sell any BTC yet.)


  10. I am also a bit unsure on the central registry, look I get it - it makes perfect sense and it the right way, but I too doubt the SA government has the tools and skills to do that in a fashion that would make me want to be a part of it, I suspect identity theft hackers will be on full force once launched.

     

    As for the rest, this actually looks good, I hope they can execute it.

     

    Sucks to be a broker...


  11. Welcome to the forum, great to have you here.

     

    I am a avid reader of your site and the one from bitcoinZar your article on how to avoid ICO scams will go a long way, so many people going blindly into this.

     

    Good to see everyone on here, you, luno, Ice3X, bitcoinZar etc.

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