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Dillbag posted:Wasn't sure whether to post this in this thread or the schadenfreude thread... Delicious.
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Jun 22, 2017 01:04
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Coca Koala posted:Wait, do I understand what's happening here? Did these people have positions to sell all of their ether if the price dropped below a certain point, the price flash-crashed, so everybody's stock got liquidated for basically nothing, and then the price of ethereum bounced back up to what it was before, and now they have nothing? Suspicious Lump posted:It bounced right back. A combination of standing stop loss orders executed at market (way way under the intended stop loss) and margin call liquidations all occurring automatically in a minute or whatever, yeah a lot of people lost their entire accounts or more. On the flip side, whoever was on the buying end of all these irrational sales made big paper gains.
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Jun 22, 2017 01:10
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Ruh-roh! What are they talking about insurance covering their losses? Is there commodity trading insurance that I didn't know about?!
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Jun 22, 2017 01:11
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Themed Disney Entertainers: Major Domo (in full regalia) from $800.00* English Butler from $800.00* Herald Trumpeter (for fanfare) from $750.00* Trumpet Duo from $1,200.00* Walt Disney WorldŽ Characters (Disney characters are subject to availability and specific characters may not be available.) Character appearances based on one 30-minute set. One Character from $1,200.00* Two Characters from$1,700.00* Ask your Disney Wedding Specialist about adding additional characters Only $800 to replace the role of a beloved family member in your wedding with a disney employee, folks https://www.youtube.com/watch?v=07mjQL5vK3w
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Jun 22, 2017 01:18
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I wonder how much of that the actors actually get
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Jun 22, 2017 01:28
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Splish posted:I wonder how much of that the actors actually get If I learned anything from dating a Disneyland girl, they get paid nothing extra and love it just to have a chance to pursue their dream
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Jun 22, 2017 01:29
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Splish posted:I wonder how much of that the actors actually get Search your feelings, friend.
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Jun 22, 2017 01:30
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Jun 22, 2017 01:31
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Solice Kirsk posted:Ruh-roh! What are they talking about insurance covering their losses? Is there commodity trading insurance that I didn't know about?! It looks like they were trading ETH on margin (holy poo poo), got hit with a margin call on the dip (yup...), and the exchange liquidated their non-margin holdings to cover it (which might or might not be legit). They're convinced that this was a fuckup by the exchange, and they'll get all their money back from some insurance that the exchange must carry. After all, once you get those drat SEC bureaucrats out of the picture, the free market will guarantee fair treatment, right?
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Jun 22, 2017 01:42
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pathetic little tramp posted:If I learned anything from dating a Disneyland girl, they get paid nothing extra and love it just to have a chance to pursue their dream Complete derail, but did wear the costume...you know, later? Bonus points if she was one of the 7 dwarves.
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Jun 22, 2017 01:52
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I'm amused to see that ETH is highly levereaged and the margin accounts rules kick in instantly. Is anyone blaming the crappy exchange yet?
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Jun 22, 2017 01:53
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Space Gopher posted:It looks like they were trading ETH on margin (holy poo poo), got hit with a margin call on the dip (yup...), and the exchange liquidated their non-margin holdings to cover it (which might or might not be legit). They're convinced that this was a fuckup by the exchange, and they'll get all their money back from some insurance that the exchange must carry. After all, once you get those drat SEC bureaucrats out of the picture, the free market will guarantee fair treatment, right? Insurance against security breach or similar, not ~the invisible hand of buttherium~ https://support.gdax.com/customer/en/portal/articles/2689803-how-deposits-are-insured-on-gdax
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Jun 22, 2017 01:54
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H110Hawk posted:Insurance against security breach or similar, not ~the invisible hand of buttherium~ https://support.gdax.com/customer/en/portal/articles/2689803-how-deposits-are-insured-on-gdax Any word on if these were funded with credit cards to boot?
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Jun 22, 2017 02:37
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Suspicious Lump posted:It bounced right back. drat, I was hoping Radeons would come back to a sane price.
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Jun 22, 2017 02:59
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My parents did well investing in the stock market in the past, but over the past couple of years, my dad's memory has been deteriorating. On top of buying shares under his self-managed Superannuation fund after he retired (a BIG no-no!), last financial year he didn't realise that he had to spend a certain amount of money out of the account that his dividends were being paid into, resulting in what will most likely be a $41,000 fine.
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Jun 22, 2017 11:13
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Lucrece posted:My parents did well investing in the stock market in the past, but over the past couple of years, my dad's memory has been deteriorating. On top of buying shares under his self-managed Superannuation fund after he retired (a BIG no-no!), last financial year he didn't realise that he had to spend a certain amount of money out of the account that his dividends were being paid into, resulting in what will most likely be a $41,000 fine. If he hit an RMD penalty and it's the first time and/or first year RMD came in to effect for him he can get out of the penalty pretty easily. He'll still need to pay the income tax on the RMD amount of course. You may need to get a tax attorney involved in this.
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Jun 22, 2017 11:17
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Ixian posted:If he hit an RMD penalty and it's the first time and/or first year RMD came in to effect for him he can get out of the penalty pretty easily. He'll still need to pay the income tax on the RMD amount of course. You may need to get a tax attorney involved in this. Thank you for that, I'll definitely see if there's some way to get out of the penalty. EDIT: Paying the income tax is fair enough, and that won't be contested at all. The fine just seemed really, really steep to me! Evil Willow fucked around with this message at 11:26 on Jun 22, 2017 |
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Jun 22, 2017 11:23
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Lucrece posted:Thank you for that, I'll definitely see if there's some way to get out of the penalty. I'm assuming he turned 70.5 before this past April 1? The IRS wants to make sure that they start getting all that tax-deferred income that was stashed away by retirees. Otherwise folks would play with tax brackets, mix in stuff like Roths and HSA, and basically maximize their income while minimizing taxes to an extent greater than they could pre-retirement. Required Minimum Distributions insure the IRS gets at least a base amount of taxes paid on deferred income. Even if your dad has a lot saved up it isn't a huge amount but it's not peanuts either. For example at 70.5 a 4m tax-deferred retirement balance has an RMD of $158k/year - which you pay regular income taxes on. It goes down as you get older (and draw down your retirement balance). First few years are usually the highest. The penalty is how they enforce this, otherwise they are just collecting taxes they should have got anyway. Like all IRS penalties it sucks because they don't want to dick around with people not paying. However unless he's made a habit of it it is pretty easy to get out of the first time. You can probably self-appeal it (the forms outlining the penalty also outline the appeal process) but if it's 44k in penalties alone probably worth paying a tax attorney $2500 or whatever to maximize your chances.
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Jun 22, 2017 13:16
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That's all good and true but if it's a "superannuation" he's probably talking about Australia dude
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Jun 22, 2017 13:22
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Krispy Kareem posted:Complete derail, but did wear the costume...you know, later? Nah, she was an artist at that California Adventure thing where you learn how to draw Winnie the Pooh and poo poo
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Jun 22, 2017 13:41
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Lucrece posted:My parents did well investing in the stock market in the past, but over the past couple of years, my dad's memory has been deteriorating. On top of buying shares under his self-managed Superannuation fund after he retired (a BIG no-no!), last financial year he didn't realise that he had to spend a certain amount of money out of the account that his dividends were being paid into, resulting in what will most likely be a $41,000 fine. You need to talk to him about taking control of his finances. He's at grave risk of losing the money he needs for his care as dementia develops.
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Jun 22, 2017 14:02
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BEHOLD: MY CAPE posted:That's all good and true but if it's a "superannuation" he's probably talking about Australia dude Whoops. "I'm in the US so everyone else is" strikes again sorry. Still, sounds like a very similar situation, with a possibly similar path to resolution.
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Jun 22, 2017 14:17
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BarbarianElephant posted:You need to talk to him about taking control of his finances. He's at grave risk of losing the money he needs for his care as dementia develops. Came to echo this. In the United States this is known as a durable power of attorney and his financial arrangements need to know that he is becoming senile (condolences) and he can't be allowed to conduct business as usual himself. Honestly, I would probably take this opportunity to move him into a financial vehicle like a guaranteed annuity or something, because while this kind of instrument has lower returns, it is basically idiot-proof to operate and just means guaranteed money in the mail every month and it will be a lot less complicated in the shadow of the rising specter of dementia.
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Jun 22, 2017 14:18
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pathetic little tramp posted:If I learned anything from dating a Disneyland girl, they get paid nothing extra and love it just to have a chance to pursue their dream I just remembered a forum thread or a book or something about a lady who played a princess for birthday parties or something a while ago? Does anyone know what I'm talking about, I remember it being really interesting...
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Jun 22, 2017 14:34
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ate all the Oreos posted:I just remembered a forum thread or a book or something about a lady who played a princess for birthday parties or something a while ago? Does anyone know what I'm talking about, I remember it being really interesting... There was a highly popular AMA thread about a lady who was an artist and made her living playing princesses at birthday parties. She drew my avatar actually. She moved it to a blog and had a patreon and some other stuff. You could find it by searching the archives for princess or something I'm sure. (Sorry, I don't have archives)
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Jun 22, 2017 14:46
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ate all the Oreos posted:I just remembered a forum thread or a book or something about a lady who played a princess for birthday parties or something a while ago? Does anyone know what I'm talking about, I remember it being really interesting... It was a thread in Ask/Tell. Unfortunately I do not recall the OP's username.
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Jun 22, 2017 14:46
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ate all the Oreos posted:I just remembered a forum thread or a book or something about a lady who played a princess for birthday parties or something a while ago? Does anyone know what I'm talking about, I remember it being really interesting... It's not just princesses either. I went to a kid's birthday party with a costumed character (a Transformer) a while back. Turn that cosplay into cash!
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Jun 22, 2017 14:46
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Here's an old io9 article on it http://io9.gizmodo.com/5939890/what-its-like-to-work-as-a-professional-party-princess--with-illustrations Here's the thread https://forums.somethingawful.com/showthread.php?threadid=3502448&userid=0&perpage=40&pagenumber=1
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Jun 22, 2017 14:50
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RheaConfused posted:There was a highly popular AMA thread about a lady who was an artist and made her living playing princesses at birthday parties. She drew my avatar actually. She moved it to a blog and had a patreon and some other stuff. You could find it by searching the archives for princess or something I'm sure. (Sorry, I don't have archives) Hiring a princess to wrangle a dozen 4 year olds for an hour at a birthday party is good with money. I've seen it in action, it's amazing. (We also live in LA county so we have a decent selection of totally-not-Disney-copyrighted-character-but-surprisingly-frozen-esque princesses from which to choose.)
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Jun 22, 2017 17:08
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brugroffil posted:Here's an old io9 article on it Thanks! I wasn't even sure if it existed on SA or if it was a weird princess-themed fever dream 
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Jun 22, 2017 17:16
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More on the ethereum crash: https://motherboard.vice.com/en_us/article/heres-how-traders-lost-millions-in-the-first-ethereum-flash-crash My favorite part is this part: quote:Some of the affected individuals have already started to organize via a Telegram group with the intention of filing a class action lawsuit against the exchange, but at present GDAX's position is that all margin trades are final, and terms were outlined in advance. "My stop loss calls worked exactly how they said they would, but it meant I lost money, and that feels unfair! Better sue."
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Jun 22, 2017 17:50
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"If they're called stop loss, why didn't they stop me from losing?"
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Jun 22, 2017 18:01
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I hear a sad trombone playing in the far distance, somewhere next to the world's smallest violin.
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Jun 22, 2017 18:06
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I wasn't really paying too much attention to this because lol, cryptocurrency: quote:According to GDAX's official statement, a single and as yet unknown actor sold millions of dollars worth of ether So basically, someone got enough of a stake that it crashed the whole thing when they sold. What are the chances that was their intention, and they immediately turned around and re-bought at the bottom, so they now have a pile of money and enough stake in ether to repeat the same trick again?
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Jun 22, 2017 18:09
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Concept: An unregulated currency to allow a free market to flourish for everyone's benefit. Reality: Internet Jay Gould.
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Jun 22, 2017 18:32
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Ashcans posted:I wasn't really paying too much attention to this because lol, cryptocurrency: I hope they mean an actual, Hollywood actor because  that's how my brain read it.
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Jun 22, 2017 19:15
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Ashcans posted:I wasn't really paying too much attention to this because lol, cryptocurrency: Man, I hope so. I hope so with every fiber of my being. I also hope they wired all the funds immediately to another account so they can't claw it back.
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Jun 22, 2017 20:06
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Solice Kirsk posted:Man, I hope so. I hope so with every fiber of my being. I also hope they wired all the funds immediately to another account so they can't claw it back. I don't think there will be any clawing back. These exchanges are live fire asset transaction platforms, there aren't training wheels.
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Jun 22, 2017 20:10
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I wouldn't think there would be since it's unregulated. I would love to see an uproar about needing a little regulation to keep one party from being able to manipulate the market.
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Jun 22, 2017 20:16
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BarbarianElephant posted:You need to talk to him about taking control of his finances. He's at grave risk of losing the money he needs for his care as dementia develops. Thanks everyone for your input  As correctly stated, we are in Australia, not the US. Both my sister and I have financial and medical power of attorney, and last night (when I found out about this fine), we've agreed with the bank and his accountant that the bank will become trustee of his Superannuation account. All's well that ends well, but the BWM part was definitely not realising that he had to take a certain amount of money out of one bank account to stop this from happening
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Jun 22, 2017 21:10
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