[GE2025] Mountbatten SMC

[mansae]

What can I find?

The people here who praise Bitcoin cannot even tell me how it is inflation resistant.

oh, they did. but u didn't read

 

[Teyemittisi]

Does anybody know - if an independent candidate wins, can he or she join another party after the election to seek support in town council management?

 

[qhong61]

Does anybody know - if an independent candidate wins, can he or she join another party after the election to seek support in town council management?

Can share.
Need not join.

 

[parchiao]

You seem to have comprehension issues. I already shared the link which I said provides a good explanation in layman terms on why bitcoin is more resistant to inflation. Or u need me to paste it here?

1. Learn
2. Crypto Basics

What is inflation?​

Definition
Inflation is the process by which a currency like the dollar or Euro loses value over time, causing the price of goods to rise. Bitcoin (and some other cryptocurrencies) are designed to experience predictable and low rates of inflation.
One attribute that has made cryptocurrencies — particularly Bitcoin — so appealing to investors is the idea that they’re more resistant to inflation than fiat currencies like the U.S. dollar.
But what is inflation? Inflation is the process by which currencies lose value over time, causing prices of consumer goods to increase. Because most economists believe that some level of inflation is good for the economy, the U.S. government, for instance, has printed more money than consumers actually need for decades. It’s the reason that a Coke that cost a nickel a half-century ago goes for a few dollars today.
Bitcoin, on the other hand, has generally increased in value much faster than the U.S. dollar has lostvalue — going from virtually worthless in 2010 to more than $20,000 in late 2020. (Because it’s a volatile market, Bitcoin has also seen dramatic spikes and declines, but the trendline over time has been upward.) This has made Bitcoin an increasingly popular hedge against fiat-currency inflation.
The main way Bitcoin is designed to resist inflation is that its supply is limited and known, and the creation of new bitcoin will taper off over time in a predictable way. (There will only ever be 21 million bitcoin, and every four years the amount of bitcoin that is mined is reduced by half.)

Why is inflation important for crypto?​

A high inflation rate for fiat currencies might lead individuals to invest more in digital money because the dollars or Euros they placed in a savings account are actually losingvalue over time. Bitcoin and certain other cryptocurrencies like Ethereumoffer investors an alternative. The economics of the Bitcoin market are complex, but there are some features designed into the digital currency that may help it to resist inflation.

• Bitcoin can’t be manipulated by governments adjusting rewards rates or printing more money to achieve policy goals.
• Like gold and other scarce stores of value, the conventional wisdom around Bitcoin is that it should rise in price in uncertain times. (This has not always been the case, however — at the start of the COVID pandemic for instance, it fell sharply along with the stock market.) It’s also a much more convenient way to store and transmit value than gold — it can simply be sent over the internet.
• Scarcity is one key to making a store of value resistant to inflation. There will never be more than 21 million bitcoin. As of now, approximately 19 million bitcoin have been mined. Around every ten minutes, miners process a new “block” and 6.25 bitcoin are added to the network. (In 2024, the mining reward will drop to 3.125 bitcoin, and will decline by half again every four years until all bitcoin are mined. This mechanism, which is designed into the Bitcoinprotocol, is known as the halving.)
• This scheduled tapering of new supply over time makes Bitcoinpredictable in unique ways — unlike gold, no new bitcoin can ever be “discovered.”

Do cryptocurrencies experience inflation?​

Yes, technically even Bitcoinexperiences inflation as more of it is mined (as does gold). But because the amount of new bitcoin is automatically reduced by 50 percent every four years, Bitcoin’s inflation rate will also decrease.
As a practical matter, as long as Bitcoin’s purchasing power continues to rise vs. the fiat currencies we tend to compare it to, Bitcoin’s few-percent annual rate of inflation isn’t a major factor for investors to consider.
But not all cryptocurrencies are designed like Bitcoin. For instance, an increasingly popular category of digital money called stablecoins — many of which are pegged to fiat currencies like the dollar — can be a useful, low-volatility place to save some money. But if a stablecoin is pegged to a fiat currency, your investment will be impacted by inflation and could lose value over time as their reserve currency loses value. (Some stablecoins offer rewards, which could change the value equation — especially with non-crypto rewards rates hovering around zero.).

The answer to ur next qn, from his interviews duh

There is nothing here to prove that Bitcoin is inflation resistant leh.

All you are doing is reproducing what is theoretical but do not show in real life.

You want inflation resistant, look at the behaviour of gold.

This is why I say all the people who talk about inflation when they discuss Bitcoin do not know what they are talking about.

 

[3G SAINT]

Does anybody know - if an independent candidate wins, can he or she join another party after the election to seek support in town council management?

Cannot that why WP reject it

 

[highsulphur]

Does anybody know - if an independent candidate wins, can he or she join another party after the election to seek support in town council management?

Don't think there is any restrictions to join or even change party after being elected

 

[Overture1928]

What can I find?

The people here who praise Bitcoin cannot even tell me how it is inflation resistant.

Well, there’s a limited number of Bitcoins that can be mined. And after each bit has been mined, the amount of work required to solve the equation increases, make it harder for subsequent bits to be mined.

If you were to compare it with gold, it has outperformed it in terms of appreciation of value.

But whether you believe in Bitcoin is similar to why people believe in fiat. Why would people pick USD over Yuan, SGD or any other form fiat when US has complete monopoly over the supply? Pound was perceived to be a strong currency until it was shorted by George Soros.

Bitcoin can be as imaginary as fiat but has mechanisms which prevents it be treated as fiat. That’s why the topic till today is still polarising.

Is it a currency? Is it an asset? It is fairy dust? I guess that depends on what you believe in and it’s not something with imposing on

In case you’re wondering, I don’t own BTC. I don’t believe it in its utility, but I’m believe in the concept of cryptocurrency and own others

 

[parchiao]

Well, there’s a limited number of Bitcoins that can be mined. And after each bit has been mined, the amount of work required to solve the equation increases, make it harder for subsequent bits to be mined.

If you were to compare it with gold, it has outperformed it in terms of appreciation of value.

But whether you believe in Bitcoin is similar to why people believe in fiat. Why would people pick USD over Yuan, SGD or any other form fiat when US has complete monopoly over the supply? Pound was perceived to be a strong currency until it was shorted by George Soros.

Bitcoin can be as imaginary as fiat but that a mechanisms which prevents it be treated as fiat. That’s why the topic till today is still polarising.

Is it a currency? Is it an asset? It is fairy dust? I guess that depends on what you believe in and it’s not something with imposing on

In case you’re wondering, I don’t own BTC. I don’t believe it in its utility, but I’m believe in the concept of cryptocurrency and own others

I have nothing against Bitcoin or any other cryptocurrnecy.

But I see a problem when people come up with ridiculous suggestions that talks up Bitcoin and talks down everything else which is not even true at all. Even have no shame to ask people to sell all other cryptocurrencies except for Bitcoin. Have no shame to ask SG government to effectively underwrite Bitcoin.

And then there are those who so readily agree that all the nonsense they read about Bitcoin is true.

The whole thing smells like a scam.

 

[mansae]

I have nothing against Bitcoin or any other cryptocurrnecy.

But I see a problem when people come up with ridiculous suggestions that talks up Bitcoin and talks down everything else which is not even true at all. Even have no shame to ask people to sell all other cryptocurrencies except for Bitcoin. Have no shame to ask SG government to effectively underwrite Bitcoin.

And then there are those who so readily agree that all the nonsense they read about Bitcoin is true.

The whole thing smells like a scam.

The part on focusing on bitcoin rather than other cryptos, his proposal is afterall, for CPF to be used for bitcoin investment and for a min guaranteed return by the govt at CPF floor rates. This means it can't be just any crypto. Which sane govt would be willing to provide a guarantee for any japalang crypto?

With bitcoin's track record of security, less violatility, and better medium of exchange for flat currencies compared to other crypto, it is not difficult to see why he proposed bitcoin over other crypto.

All your replies just make you seem like an extremely close minded person. I've several peers myself who are retired in their 20s thanks to crypto. Maybe your narrow perspective is why this "ridiculous" guy made enough to retire at age 34 but not you?

 

[junlove]

I found many of his points interesting, and make sense, esp the HDB related. However, the Bitcoin push should be put aside. Now, all his pts are submerged tks to the bitcoin nonsense.

There are many ways to invest in CPF, and that is a separate discussion, non-material to nation building. I don't like Bitcoin, as i do view it as a stupid asset which does nothing to productivity, it's a cancer, but i do know it can go up, as long demand vs supply calls for it. But there is no need to hard push for this for the common people.

 

[parchiao]

The part on focusing on bitcoin rather than other cryptos, his proposal is afterall, for CPF to be used for bitcoin investment and for a min guaranteed return by the govt at CPF floor rates. This means it can't be just any crypto. Which sane govt would be willing to provide a guarantee for any japalang crypto?

Which sane entity will want to provide guarantee for the risks you take on yourself?

Already said anyone can simply use their non govt managed assets to punt on Bitcoin. Why need to use CPF to do that, and then expect the govt to provide guarantee? The phrasing alluded to the entire amount and not just the returns. Moreover, Bitcoin does not pay interest or dividends, just return on principal. So it is still asking for a guarantee on the principal no mater how you see it.

With bitcoin's track record of security, less violatility, and better medium of exchange for flat currencies compared to other crypto, it is not difficult to see why he proposed bitcoin over other crypto.

Because the people here are holding Bitcoin and want to see it go up for their own selfish reasons.

All your replies just make you seem like an extremely close minded person. I've several peers myself who are retired in their 20s thanks to crypto. Maybe your narrow perspective is why this "ridiculous" guy made enough to retire at age 34 but not you?

I sure as hell did not make money off crypto, but what makes you think I did not take a punt and got a payout? You mean only you or your acquaintances have been lucky in life? You think everyone here is some poor useless soul?

At least I don't use an election to promote crypto sh!tcoin Bitcoin with some seriously bad reasoning that is as close to a scam as I can see.

 

[Overture1928]

I found many of his points interesting, and make sense, esp the HDB related. However, the Bitcoin push should be put aside. Now, all his pts are submerged tks to the bitcoin nonsense.

There are many ways to invest in CPF, and that is a separate discussion, non-material to nation building. I don't like Bitcoin, as i do view it as a stupid asset which does nothing to productivity, it's a cancer, but i do know it can go up, as long demand vs supply calls for it. But there is no need to hard push for this for the common people.

Well, I think he brought up a good point whereby how HDB, a fundamentally decaying asset is sold as an appreciating asset.

If that narrative can stand, Bitcoin is technically a less risky asset. If you examine the ‘boom’ in crypto, it coincides with the US running their printers. When there’s huge influx of dumb money, people start ‘gambling’ in supposedly risky assets too.

Anyway, everyone perceives risks and investments differently but more importantly, people need to understand what are they buying into and what are the risks.

 

[sglandscape]

@jeremytansg I tell you truth: many rich people are unhappy with the way that PAP do things because they see it happening with their children and they are very worried.

World class ranking university but come out don't know do what job. You talk to any Y3 or Y4 students and I can guarantee at least 80% of them are not optimistic about jobs after graduation.

These are millionaires ah... and their children, as fresh grads, cannot afford a resale flat using their own salary. Their elite children, with their elite upbringing, can only go through BTO route then can buy a BTO, which is now hitting 600k for a plus area 4rm flat. You think throw face or not?

Most rich parents subsidise the kids to buy HDB BTO if they marry young and let them stay at their own place in the interim, if not help them with downpayment with condo already to help them get ahead.

No rich parent would ask the kids to buy a resale HDB as a first house unless no choice, don't make sense.

 

[Overture1928]

Most rich parents subsidise the kids to buy HDB BTO if they marry young and let them stay at their own place in the interim, if not help them with downpayment with condo already to help them get ahead.

No rich parent would ask the kids to buy a resale HDB as a first house unless no choice, don't make sense.

‘Transfer of generational wealth’

 

[mansae]

Already said anyone can simply use their non govt managed assets to punt on Bitcoin. Why need to use CPF to do that, and then expect the govt to provide guarantee? The phrasing alluded to the entire amount and not just the returns. Moreover, Bitcoin does not pay interest or dividends, just return on principal. So it is still asking for a guarantee on the principal no mater how you see it.

And I believe I alrdy stated why my previous replies that one of the several reasons is because many Singaporeans lack the financial and technical know-how to invest in bitcoin themselves, guess you didn't read that.

Refer: Post #235

 

[jeremytansg]

If you get elected, please make friends with lim biow chuan. He is a nice guy, very resident oriented. For most community events, he is there from start to end if his schedule permits. Not those "red carpet" moments then show face kind. And after events, he always talks to his residents who wants to talk to him. He is there until the event keeping chairs and no one else talk to him then he leaves one.

I'm sure if your heart is with the residents, he can give you tips on "how things work".

Will do so!!

 

[kingmaker888]

nathenial koh and harpreet singh ground work all gone, they just pull out just like that at least nat koh not so bad nearby east coast

 

[samba fan]

The SMC can use bitcoin to pay for stuff

 

[parchiao]

And I believe I alrdy stated why my previous replies that one of the several reasons is because many Singaporeans lack the financial and technical know-how to invest in bitcoin themselves, guess you didn't read that.

Refer: Post #235

You are proposing the govt to teach Sinkies to invest in Bitcoin?

All your proposals, the proposals by the siao lang, they are done to find ways to fit Bitcoin into the narrative.

End of the day, it is to support your Btcoin.

Actually asking people to become greater fools.

Even ask the govt to be the greater of greater fools.

It is all for sinister reasons, there is nothing decent in the way the proposals around Bitcoin are made.

Like I said, just use your own assets not controlled by the govt to invest yourself. Sell everything you have to huat since you believe 100% in it.

 

[parchiao]

Well, I think he brought up a good point whereby how HDB, a fundamentally decaying asset is sold as an appreciating asset.

If that narrative can stand, Bitcoin is technically a less risky asset. If you examine the ‘boom’ in crypto, it coincides with the US running their printers. When there’s huge influx of dumb money, people start ‘gambling’ in supposedly risky assets too.

Anyway, everyone perceives risks and investments differently but more importantly, people need to understand what are they buying into and what are the risks.

This narrative is worse.

Can you live in a Bitcoin? The answer is no.

I for one have a significant disdain for the million dollar resale flats, and I actually like the ever appreciating cryptocurrencies.

But we should never mix both up, become more stupid and even more stupid by becoming greater fools to help others.