|
Sirotan posted:My student loan servicer hosed up my repayment plan switch (again), so I got frustrated and hit up Reddit to see if anyone else was having similar issues. Got off on a bit of a tangent: It's actually pretty easy if you make a doctor's salary? I'd rather pay back 500k on a 250k+/year salary than 100k on a 50k/year salary. It's the conspicuous consumption hole that many fresh doctors fall into which leads into the debt snowballing.
|
#
?
Sep 1, 2017 19:20
|
|
|
|
| # ? Jun 4, 2024 00:04 |
|
|
My brother is a veritable fountain of BWM:
|
|
#
?
Sep 1, 2017 19:20
|
|
|
captkirk posted:My brother is a veritable fountain of BWM: The holiest of molies
|
|
#
?
Sep 1, 2017 19:24
|
|
|
Randler posted:My BWM story is about a bunch of guys who spent a lot of money on gaming PCs and then only use their high-end processors and graphic cards to render single window of Chrome in which they post about posting. Guilty as charged.
|
|
#
?
Sep 1, 2017 19:28
|
|
|
imagine if the forums had an in-game time counter I wonder how many hours i've clocked in this forgotten corner of the internet since 2007...
|
|
#
?
Sep 1, 2017 19:36
|
|
|
KingSlime posted:imagine if the forums had an in-game time counter There have been 2843 posts made by KingSlime, an average of 0.74 posts per day, since registering on Mar 20, 2007. KingSlime claims to be a porpoise. 30secs a post = 24hours of solid typing.
|
|
#
?
Sep 1, 2017 20:04
|
|
|
[quote="“captkirk”" post="“475973929”"] My brother is a veritable fountain of BWM:
That’s like exhibit A on how being poor costs money. He’s also really loving stupid. Your bother and my brother should co-sign poo poo together.
|
|
#
?
Sep 1, 2017 20:17
|
|
|
Sad news, everyone. You're gonna have to look elsewhere for your fresh-pressed DRM juice: Juicero is no more: https://www.theverge.com/2017/9/1/16243356/juicero-shut-down-lay-off-refund quote:Juicero, the company that made its name by creating a proprietary juice-squeezing machine, is shutting down. The announcement comes from Juicero's website. In its post, the company writes that it is suspending the sale of both its juice packets and its Juicero Press device. The last juice packet delivery will occur next week. All customers have up to 90 days to request a refund for their purchase of the Juicero Press, regardless of when they bought it. Fortune reports that employees are being given 60 days notice. You can get a full refund on your discontinued $400 DRM juicer, so maybe it was GWM all along????
|
|
#
?
Sep 1, 2017 20:57
|
|
|
Sirotan posted:Sad news, everyone. You're gonna have to look elsewhere for your fresh-pressed DRM juice: Juicero is no more:  Isn't the whole point to use fresh fruit?!
|
|
#
?
Sep 1, 2017 21:50
|
|
|
Yawgmoth posted:I still don't understand the concept of a juicer that just squeezes a pack. The fruit is fresh and was packed in the bag within the last two-three days and then shipped using their overbuilt fulfillment chain that they built out before realizing they didn't have a market. That's why the bags cost like ten goddamn dollars each
|
|
#
?
Sep 1, 2017 22:16
|
|
|
Should have gone to the sharing economy model where you place an order on an app and some uber driver arrives and makes you a smoothie.
|
|
#
?
Sep 1, 2017 22:27
|
|
|
potatoducks posted:Should have gone to the sharing economy model where you place an order on an app and some uber driver arrives and makes you a smoothie. He has to arrive in a Tesla and I have to pay him in crypto. Otherwise no go.
|
|
#
?
Sep 1, 2017 22:29
|
|
|
Yawgmoth posted:I still don't understand the concept of a juicer that just squeezes a pack. Well the idea of a cheapo machine that needs special subscription packs to work makes sense--thats what Keurig does. Only the Juicero peeps decided to do a $600 machine that still somehow needs special bespoke little packs of pre-mashed fruit in the hopes of having their cake and eating it, too. Vox Nihili fucked around with this message at 22:53 on Sep 1, 2017 |
|
#
?
Sep 1, 2017 22:38
|
|
|
Vox Nihili posted:Well the idea of a cheapo machine that needs special subscription packs to work makes sense--thats what Keurig does. Only the Juicero peeps decided to do a $600 machine that still somehow needs special bespoke little packs of pre-mashed fruit in the hopes of having their cake and eating it, too. The machine is a total beast too, machined billet aluminum and high quality gearing and extra costs all over the place. They're not making money on the machine, or they weren't.
|
|
#
?
Sep 1, 2017 23:32
|
|
|
https://www.youtube.com/watch?v=_Cp-BGQfpHQ Great teardown where he talks about manufacturing costs.
|
|
#
?
Sep 1, 2017 23:34
|
|
|
 BITCOIN SITUATION INCOMING!I've gone back and forth about posting this so I have to be a little careful here, but we had a new client call in today asking if anyone was familiar with Bitcoin. One of the other bankers popped his head into my office and said "Hey Solice, you know about that stupid internet money thing don't you?" so I got the call. He didn't want to talk on the phone about it, but when he came in he pulled up an online wallet he had with.....a lot of Bitcoin in it. Apparently back in 2012 he sold his car to a friend who couldn't pay him in cash so gave him quite a few Bitcoins. He totally forgot about it until he was cleaning out spam emails and noticed a bunch of "statement from your **** Wallet." He's loving terrified of losing these now. The plan we're going with is to sell them off in batches of about 50, wait for the cash to hit the wallet, and then transfer the cash to an account we're gonna open just to catch these funds, rinse/repeat until they're all sold (or stolen/lost). The first sell we placed seems to have gone through and been filled so now we're just waiting the 2-3 business days for the cash to hit the wallet (fingers crossed for him). Should be coming sometime around next Weds. This is my first time ever working with them in real life so I'm curious if the money is going to really drop in or not. I already told him since these aren't regulated that if he gets any real cash out of them then he should consider it a huge plus and that if even only this first trade works that he's waaaaaaaaaaaay ahead of the game since the car was only worth like $6000. I'll let you know if it works. I'm really curious myself. I'm preemptively putting it in this thread because I just know something lovely is going to happen. My moneys on the sell showing filled, but then him getting an email saying it actually didn't and us trying this over and over again until he winds up having to sell them one at a time.
|
|
#
?
Sep 2, 2017 00:00
|
|
|
Getting several hundo bitcoin in 2012 is probably very good with money
|
|
#
?
Sep 2, 2017 00:09
|
|
|
I'm hoping for him that it is. It's the getting it into cash and out of that wallet that is filling me with vicarious dread.
|
|
#
?
Sep 2, 2017 00:14
|
|
|
NancyPants posted:He has to arrive in a Tesla and I have to pay him in crypto. Otherwise no go. And they have to be BurgerCoins.
|
|
#
?
Sep 2, 2017 00:34
|
|
|
Solice Kirsk posted:
 Let me be the first to tell you getting your money off exchanges in large sums is hard/time consuming. You are going to need to setup an account on the exchange and message them directly about increasing your withdrawal limit. You will likely spend days withdrawing the proceeds of each batch. The 6k car is worth 1.5 bitcoins right now so coming out ahead is an understatement. By the sounds of it he's going to have a hefty tax situation in the near future. ed: you will probably want to work with the GDax exchange. Risky Bisquick fucked around with this message at 01:17 on Sep 2, 2017 |
|
#
?
Sep 2, 2017 01:14
|
|
|
Solice Kirsk posted:
I'm not going to bother digging up a source to corroborate this, but I told this to my husband and he immediately speculated that this might be the chunk of bitcoin that has been sitting static and basically allowed the whole thing to weather these insane fluctuations. Take it with a grain of salt since his brain is like Swiss cheese, but I hope this legend is real and I hope this finally destabilizes bitcoin so badly it can't recover. Good luck to your client, and e:
|
|
#
?
Sep 2, 2017 01:35
|
|
|
NancyPants posted:I'm not going to bother digging up a source to corroborate this, but I told this to my husband and he immediately speculated that this might be the chunk of bitcoin that has been sitting static and basically allowed the whole thing to weather these insane fluctuations. Take it with a grain of salt since his brain is like Swiss cheese, but I hope this legend is real and I hope this finally destabilizes bitcoin so badly it can't recover. Good luck to your client, and did I read that right that this first trade is worth well over $6k?
|
|
#
?
Sep 2, 2017 01:38
|
|
|
Risky Bisquick posted:
I don't want to get too into the particulars since he's a current client, but I told him about the possible tax stuff and if we can get the cash out of the wallet then his very next call is going to be to a CPA. Thanks for the heads up on the withdrawal limit. The wallet he's got is apparently FDIC backed so I'll feel a lot better once the cash is in there. This could change everything for this guy. I really hope it goes well.
|
|
#
?
Sep 2, 2017 01:48
|
|
|
NancyPants posted:I'm not going to bother digging up a source to corroborate this, but I told this to my husband and he immediately speculated that this might be the chunk of bitcoin that has been sitting static and basically allowed the whole thing to weather these insane fluctuations. Take it with a grain of salt since his brain is like Swiss cheese, but I hope this legend is real and I hope this finally destabilizes bitcoin so badly it can't recover. Good luck to your client, and e: Going by the chart here, bitcoin was worth anywhere from $4.27 to $13.70 during 2012. So the $6k car would have sold for somewhere between about 440 to 1400 BTC which would have a current value of $2.1 to 6.7 million. However, the largest bitcoin wallets have hundreds of millions of dollars worth of BTC in them (ignoring the fact that liquidating one of those wallets would have a huge effect on the $/BTC exchange rate).
|
|
#
?
Sep 2, 2017 01:53
|
|
|
Solice Kirsk posted:I don't want to get too into the particulars since he's a current client, but I told him about the possible tax stuff and if we can get the cash out of the wallet then his very next call is going to be to a CPA. Thanks for the heads up on the withdrawal limit. The wallet he's got is apparently FDIC backed so I'll feel a lot better once the cash is in there. This could change everything for this guy. I really hope it goes well. Jesus, a CPA and a financial advisor. You owe it to him to pound it into his head that he could end up like 9/10 of lottery winners within two years. Or are you the financial advisor?
|
|
#
?
Sep 2, 2017 03:05
|
|
|
22 Eargesplitten posted:Jesus, a CPA and a financial advisor. I thought this was the setup to a joke at first.
|
|
#
?
Sep 2, 2017 03:34
|
|
|
"BUT WHERE AM I GOING TO GET MY JUICE NOW????" -no one, 2017
|
|
#
?
Sep 2, 2017 03:39
|
|
|
22 Eargesplitten posted:Jesus, a CPA and a financial advisor. You owe it to him to pound it into his head that he could end up like 9/10 of lottery winners within two years. Nope. Just a banker now. I'm not sending him to my FA. "Talk to a CPA or tax specialist" is pretty much the only tax advice I can give him without the potential to lose my job, and I honestly think he's gonna need help with it.
|
|
#
?
Sep 2, 2017 04:18
|
|
|
Solice Kirsk posted:The wallet he's got is apparently FDIC backed  Hoodwinker posted:The car he traded the coins for was worth $6k. His first trade of 50 coins would be worth about $240,000. And as much as I'd love to see bitcoin brought low, there are many millions of coins floating around. This dude trading his in probably won't have a dent. Fair enough. I wasn't thinking so much for the amount, but more like some otherwise inactive bitcoin that's been off the radar that had been buffering the market this whole time and no one knew who owned it suddenly getting cashed out causing a run on the exchanges. From the chart I see that it's not nearly enough and not nearly old enough though  Craptacular posted:Going by the chart here, bitcoin was worth anywhere from $4.27 to $13.70 during 2012. So the $6k car would have sold for somewhere between about 440 to 1400 BTC which would have a current value of $2.1 to 6.7 million. However, the largest bitcoin wallets have hundreds of millions of dollars worth of BTC in them (ignoring the fact that liquidating one of those wallets would have a huge effect on the $/BTC exchange rate). Thanks for the links. I'm very interested in the liquidations and exchanges. People always talk about the worth of Bitcoin in USD as if it's stable, but I've always bitched that you can't extract the full value because huge liquidations cause too much rate fluctuation. Even if the exchange rate didn't immediately tank, wouldn't it induce a run on the exchanges? Now with FDIC backing, is that enough to prevent runs on real banks? I mean, we're talking about people who don't believe in real banks and actual money using crypto, who now for some reason are getting FDIC backing and linking up with US banks? What is the internal logic here?
|
|
#
?
Sep 2, 2017 06:44
|
|
|
NancyPants posted:What is the internal logic here?
|
|
#
?
Sep 2, 2017 08:28
|
|
|
I'm the treasurer for a small non profit. We had a donor who wanted to fulfil a mid-5-figure pledge with crypto. So I set up a coinbase account in corporate name. Everything about the process was a total pain in the rear end, but we did eventually get the money (it took about 3 months, all said). I can't imagine doing that for a 7 figure sum...
|
|
#
?
Sep 2, 2017 14:57
|
|
|
Want to make reading BWM stories your career? The IRS is hiring for adjudicators to help determine security clearances for federal work! https://www.usajobs.gov/GetJob/ViewDetails/478482400
|
|
#
?
Sep 2, 2017 16:02
|
|
|
Kanish posted:Want to make reading BWM stories your career? The IRS is hiring for adjudicators to help determine security clearances for federal work! Only to current federal employees
|
|
#
?
Sep 2, 2017 16:14
|
|
|
SlapActionJackson posted:I'm the treasurer for a small non profit. We had a donor who wanted to fulfil a mid-5-figure pledge with crypto. So I set up a coinbase account in corporate name. Everything about the process was a total pain in the rear end, but we did eventually get the money (it took about 3 months, all said). I can't imagine doing that for a 7 figure sum... Was this even with improved daily withdrawal limits?
|
|
#
?
Sep 2, 2017 16:19
|
|
|
Solice Kirsk posted:The wallet he's got is apparently FDIC backed how?! Anyway, you might want to have PMs with the Infosec Folks about advice to ensure that nothing horrible happens, given that there is in fact malware that exists just to steal wallets, etc.
|
|
#
?
Sep 2, 2017 16:31
|
|
|
So I guess there's no such thing as a weekend for the BTC market because I just met with him again a few minutes ago. Trade was stopped as it exceeded his daily limit. Looks like we're gonna be doing this in $10k chunks (he has a 10k daily limit on all activity in the account). So we have to do a sell for 10k a day and then set a day aside to transfer the cash out. Eventually he'll just be placing a sell one day and a transfer the next. Gonna take a long time to get his cash out. The stories of it being a pain in the rear end are starting to make more sense. Take two!Volmarias posted:how?! The cash positions are FDIC backed and not the actual coins in the wallet. I'll read through that thread, but legally I don't know where my footing is on that. I like this guy, but getting fired for suggesting he look into this stuff wouldn't be worth it. We just fired a banker for telling a client to leave his 401k in a TDF (banker wasn't licensed). This firm is harsh on stuff like that, and if this dude comes in saying some software I suggested didn't stop his wallet from being stolen then I could be out on my rear end.
|
|
#
?
Sep 2, 2017 18:25
|
|
|
Solice Kirsk posted:So I guess there's no such thing as a weekend for the BTC market because I just met with him again a few minutes ago. Trade was stopped as it exceeded his daily limit. Looks like we're gonna be doing this in $10k chunks (he has a 10k daily limit on all activity in the account). So we have to do a sell for 10k a day and then set a day aside to transfer the cash out. Eventually he'll just be placing a sell one day and a transfer the next. Gonna take a long time to get his cash out. The stories of it being a pain in the rear end are starting to make more sense. Take two! Uhhh... So do the exchanges intentionally structure their transactions in an attempt to circumvent US anti-money laundering laws, or do they claim it's just a coincidence? This is textbook. Put this in the context of anything besides BTC and do this and your AML people would call the feds. In my heart I'm an irrational conspiracy theorist, I just think BTC is hopelessly inept.
|
|
#
?
Sep 2, 2017 18:39
|
|
|
It's not a $9,999 limit I hope.
|
|
#
?
Sep 2, 2017 18:53
|
|
|
NancyPants posted:Uhhh... More likely they need time to refresh their "actual money" coffers with the money of larger fools in between cash outs.
|
|
#
?
Sep 2, 2017 18:55
|
|
|
|
| # ? Jun 4, 2024 00:04 |
|
|
NancyPants posted:Uhhh... Is this about the money limit to avoid paying taxes, or something else? Is it illegal to make transfers that could be used to avoid taxes if you pay the taxes anyway? It seems like getting paid in cash at work but reporting it on your taxes anyway. Or is it that there's some sort of requirement on the exchange's side that you the customer could be held responsible for them failing to meet? At this rate, assuming the bitcoins are currently worth 3 million, it would take 600 days to cash out. If Bitcoin increases, it could take even longer. I really hope this guy gets a financial advisor and becomes one of the only GWM things to ever come out of bitcoin. He pretty much gave a friend a $6,000 car because he didn't expect the digital fun money to ever actually be worth anything.
|
|
#
?
Sep 2, 2017 19:02
|
|