cryptoNess

Dad of two, SUP
#bitcoin hodlr

[cryptoNess @hamhighlander]

https://t.co/9DmMIjyWYL Join the waitlist for the BlockFi credit card with my link and we’ll both start earning bitcoin soon.

[Bitwise @Bitwise]

2023 was a great year for crypto. But we see even brighter things ahead. In this must-read report, the Bitwise research team lays out ten bold predictions for 2024. https://t.co/d8Pa4NkzJU

[bigpey @bigpey]

To celebrate the holidays I'm gonna give 500 $ADA away to someone random who like/retweets this tweet. This is also a thank you.

Remember, you never have to send $ADA to someone else to enter a giveaway.

I hope the #Cardano community is doing well. Stay safe everyone!

[cryptoNess @hamhighlander]

@CoingraphNews Rave anthem in my head. "Are you ready for this"

[Martin Lewis @MartinSLewis]

They can't say they weren't warned!
Last Autumn, I raised an alarm about a coming potential mortgage ticking time bomb with millions facing huge bill-shock as their fixes end.
So much so the Chancellor called a mortgage summit; sadly it was just a missed opportunity talking shop...

I want to briefly bash out some thoughts on this.

The summit in December was attended by the Chancellor, FCA chair, the bosses of UK's biggest banks and me (I'd asked for consumer charities & mortgage experts to attend too but that wasn't agreed - tho my team and I worked hard talking to charities and mortgage brokers before to collate ideas).

My reason for suggesting the Chancellor took action was simple. We needed to prepare in case it rates rocketed - waiting for it to happen would be too late. Yet now, the time bomb has exploded, and we're scrambling about what to do.

One of the big concerns I raised was that banks were increasing their margins - basically the gap between what lenders are charged and savers paid. That should (and still should) be tightened and political pressure needs applying to ensure either better mortgages or better savings or best, both.

Other practical suggestions were not about radical change, but easy to agree forbearance and help measures to get people over the hump while they readjusted their finances.

A range of methods such as payment holidays, payment reductions, lengthening the mortgage term were discussed, plus proactive communication with borrowers who look like they may be struggling and independent solid guidance about what people's options were if they were struggling.

There were lots of nods from the bankers and many 'we do that alreadies', and indeed some extra customer communications did come out on the back.

Yet real changes met push back - sometimes the banks both from banks and the FCA. For example

1. Any help options should be easily reversible on request. Eg if you extend your term, to reduce payments, when things improve you should have an automatic right to reduce the term.

Knowing there is a reversibility option gets rid of a barrier to action - without reversibility people are scared to be locked into a longer mortgage (which means more interest).

2. It should have no or minimal impact on people's credit scores (as it did in the pandemic). Again negative credit file impact is a big barrier to action
- as it leaves people reticent to make a decision, which can lead to snowballing problems.

None of the suggestions have seen any real fruition. The attention faded, especially when rates didn't rise as sharply as first expected.

Though we are now in exactly the situation that the whole meeting was meant to prepare for. Now I read about proposed 'forbearance' measures being looked at, it does feel as a shame the stable door is already closing...

[Elon Musk @elonmusk]

Yikes

[cryptoNess @hamhighlander]

@peteedinburgh2 Have a great time in Nam Pete.. I know it is a flying visit.. it's a great country.

[Peter Anderson @peteedinburgh2]

Good morning Namibia

[Anil Patel @anilpatel]

Statement released by Satoshi Nakamoto

[Bitcoin Magazine @BitcoinMagazine]

The Fed trying to fight inflation by printing more money

[Bitcoin Clown 🤡 @bitcoin_clown]

Credit Swiss depositors & shareholders Monday morning, when Credit Swiss opens its doors

[midge ure💙 @midgeure1]

A demented being laughing in front of a concentration camp? What a sad excuse for a human.

[Marina Purkiss @MarinaPurkiss]

I wish I were shocked…

That Serco got the contract for 109 asylum hotels

That Serco's CEO is the brother of a former Tory MP

That his partner is a Tory Party donor

That Serco's former top spin doctor was the Tory Minister for Health:

https://t.co/6VN9L7Xo0f

[cryptoNess @hamhighlander]

@staggie71 You just need a canon now.. 😆

[cryptoNess @hamhighlander]

@staggie71 That's a good range on the detector, but I guess it's a big object..

[cryptoNess @hamhighlander]

@Davincij15 Love

[Ukbud73 @UKBud73]

@RishiSunak 🙄

[Tobi @TobiFrenzen]

@RishiSunak #GeneralElectionNow