|
I recently got into a Bitcoin debate on Facebook where the proponents were trying to defend Bitcoin's wild changes in value by saying that stocks are exactly the same, which I pointed out didn't exactly help his case. He also said that I "trust in stocks" with absolutely no prompting, which suggests that he just debates a strawman capitalist any time he talks to someone who doesn't trust cryptocurrency.
|
#
?
Dec 5, 2017 05:07
|
|
|
|
| # ? May 15, 2024 18:32 |
|
|
Sagebrush posted:According to a guy at work who is really into cryptocurrencies but also seems somewhat realistic about them (at least to the extent that those two statements are compatible), you could -- with the market in the state it is right now -- convert about $10,000 worth of bitcoin into USD per day without running into problems. He says that none of the marketplaces or w/e they're called have enough USD available to cover much more than that. lol. Converting 10k of USD every day is a problem in of itself. See, the bank is required to report any transaction that amounts to more than 10 thousands to the government, and so there's always plenty of idiots who assume that they can just simply move $9999.00 without having to report it on their taxes. That kind of behavior will get your bank account frozen immediately by the bank and they'll start to investigate the account. It's an genius move by the exchanges, they can just give out a fraction of the money they have until your bank account get frozen then welp, guess we'll just have to wait until that stuff gets resolved.
|
|
#
?
Dec 5, 2017 05:13
|
|
|
Luckyellow posted:lol. Converting 10k of USD every day is a problem in of itself. See, the bank is required to report any transaction that amounts to more than 10 thousands to the government, and so there's always plenty of idiots who assume that they can just simply move $9999.00 without having to report it on their taxes. That's why you spend all your bitcoins on steam games
|
|
#
?
Dec 5, 2017 05:42
|
|
|
If this is wrong I don't want to be right. https://www.youtube.com/watch?v=KEYt18Pe-Gw
|
|
#
?
Dec 5, 2017 06:02
|
|
|
In the "Here is the next generation of schadenfreude videos from youtube" Lamborghini has released a "supercar" SUV. https://www.usatoday.com/story/money/cars/2017/12/04/lamborghini-joins-boom-supercar-suvs-urus-unveiling/918570001/ "Fastest SUV in the world" "200K sticker". This can only be good for this thread.
|
|
#
?
Dec 5, 2017 06:11
|
|
|
what demographic is that supposed to appeal to? soccer moms already have a porsche SUV that doesn't look like a hotwheel
|
|
#
?
Dec 5, 2017 06:14
|
|
|
Luckyellow posted:lol. Converting 10k of USD every day is a problem in of itself. See, the bank is required to report any transaction that amounts to more than 10 thousands to the government, and so there's always plenty of idiots who assume that they can just simply move $9999.00 without having to report it on their taxes. I admit I'm completely clueless when it comes to finance, but I've never really understood how structuring can be a crime. I mean, I understand WHY the powers that be would be looking for such things. But it's always seemed to me that it means the real problem is that the existing regulations aren't adequate. But instead of lowering the reporting ceiling or looking at the totals from longer timespans, they make it illegal to obey the law too closely to the limit. You have to comply with the law MORE to be in compliance with it at all. ...What? It reminds me of the Interesting Number Paradox. If the reporting ceiling is $10K, then moving $9999 per day is obviously suspicious and $1 per day is obviously not. But where's the dividing line? If you officially draw that line at, let's say, $7500, then what happens if I move $7499 per day? Am I "structuring" around the new de-facto ceiling? Where's the point where THAT isn't suspicious anymore? What if I go a dollar below THAT? And around and around we go. Like I said, I'm obviously kind of an idiot about finance, so it's probably a good thing I'm not planning on doing any money laundering in the foreseeable future.
|
|
#
?
Dec 5, 2017 06:15
|
|
|
There's nothing illegal about making $9990 transfers, that's stupid. Just pay your taxes.
|
|
#
?
Dec 5, 2017 06:18
|
|
|
BovineFury posted:If this is wrong I don't want to be right. The dude trying to blow out the engine fire kills me every time, especially when we find out what was in the container he didn't think was worth moving. The karate scene at 8:00 may be my favorite from that video, though. What the hell is going on, there?
|
|
#
?
Dec 5, 2017 06:22
|
|
|
Transferring $9999 is completely legal. It's just that it makes you look like someone with something to hide, so they're going to come and look at you very closely to find it. And then charge you with that.
|
|
#
?
Dec 5, 2017 06:22
|
|
|
If you’re moving a large amount of money, do it in one transaction and let them file the CTR. If your business is legitimate, nothing will happen. If it’s not legit, you need to truly launder your money. If there is a whiff of structuring you’ll get hit with a SAR and that means way more heat than a CTR. Platystemon has a new favorite as of 06:30 on Dec 5, 2017 |
|
#
?
Dec 5, 2017 06:25
|
|
|
Powered Descent posted:I admit I'm completely clueless when it comes to finance, but I've never really understood how structuring can be a crime. I mean, I understand WHY the powers that be would be looking for such things. But it's always seemed to me that it means the real problem is that the existing regulations aren't adequate. But instead of lowering the reporting ceiling or looking at the totals from longer timespans, they make it illegal to obey the law too closely to the limit. You have to comply with the law MORE to be in compliance with it at all. ...What? I work for a large bank. We have multiple applications that monitor, look for patterns, etc... If you deposit 9grand in cash once no one will look. If you deposit 2500 at this branch, 6k at another branch, etc... over time, the computers will begin flagging transactions. They may very well test the money for drug residues, and definitely will call the feds if they think it's shady. If you work in a cash business, you generally set that up with the bank ahead of time so you don't get flagged, and even then anti-money laundering systems will still flag you because they are imperfect. If you're depositing that much cash daily though, questions will be asked. Very few places handle that much cash in a day that aren't retail/food, and those places do standard drops or deal with a brinks type service to handle their cash.
|
|
#
?
Dec 5, 2017 06:25
|
|
|
Isn't bitcoin a bit like right before the great depression when people would make up companies on paper only just to sell stock?
|
|
#
?
Dec 5, 2017 06:27
|
|
|
Fuzzy Mammal posted:There's nothing illegal about making $9990 transfers, that's stupid. Just pay your taxes. This is buttcoin touchers we're talking about. Half of them are involved in it because they think its a way to get around taxes.
|
|
#
?
Dec 5, 2017 06:31
|
|
|
Only half of them? I'd wager the majority of them.
|
|
#
?
Dec 5, 2017 06:38
|
|
|
hawowanlawow posted:what demographic is that supposed to appeal to? soccer moms already have a porsche SUV that doesn't look like a hotwheel Dang I get sick of the porsche wagons This brand is supposed to look like it's risking your life! That's what it does!
|
|
#
?
Dec 5, 2017 06:42
|
|
|
BovineFury posted:If this is wrong I don't want to be right. That guy at 4:23  That's exactly why you always have a loving fire extinguisher on hand when you're loving around with a loving internal combustion engine, fuckhead ilmucche posted:Isn't bitcoin a bit like right before the great depression when people would make up companies on paper only just to sell stock? It's quite a lot like that, in fact, because bitcoin -- despite being advertised as a currency -- is not at the moment accepted directly in exchange for goods or services hardly anywhere, which makes it worthless unless converted to another currency, which makes it indistinguishable from a stock, or another investment vehicle like diamonds or beanie babies. And of course bitcoin doesn't have any central organization or produce any product that ties its value to the real world, just as if it's a paper company of the 1920s.
|
|
#
?
Dec 5, 2017 07:03
|
|
|
hanales posted:
Doesn't all money have drug residues because of cross-contamination in counting machines and ATMs?
|
|
#
?
Dec 5, 2017 07:07
|
|
|
if it does, then it's just a matter of checking to see if the suspicious money has drug residues above the background level..
|
|
#
?
Dec 5, 2017 07:09
|
|
|
The Lone Badger posted:Doesn't all money have drug residues because of cross-contamination in counting machines and ATMs? Possibly, but when you bring a bag of cash in reeking of weed it's a little different  (That just happened in one of our branches). Sagebrush posted:if it does, then it's just a matter of checking to see if the suspicious money has drug residues above the background level.. This is correct.
|
|
#
?
Dec 5, 2017 07:13
|
|
|
Do not lick your dollar bills to try and get high.
|
|
#
?
Dec 5, 2017 07:26
|
|
|
Correct. Stick a great big wad of them in your rear end instead. Even if you don't get high, you can brag you are so rich you literally poo poo money and then surprise the poor fool who tries to correct you about the use of the word "literally." marshmallow creep has a new favorite as of 07:29 on Dec 5, 2017 |
|
#
?
Dec 5, 2017 07:27
|
|
|
Platystemon posted:If you’re moving a large amount of money, do it in one transaction and let them file the CTR. Ah the SAR form. The longest form to fill out. Also don't forget the MTR; though that may be more of a casino thing than a bank thing. Not sure. I've worked at a casino but not a bank. All that bank secrecy act training was a fucker, and I didn't even handle money. People think it'd be easy to launder money through a casino but they are super vigilant. Edit: also a casino doesn't go by regular days. Every casino has a gaming day and it's actually a crime for an employee to tell a patron when the gaming day begins and ends. Untrustable has a new favorite as of 07:42 on Dec 5, 2017 |
|
#
?
Dec 5, 2017 07:38
|
|
|
https://i.imgur.com/sLQWIvW.gifv
|
|
#
?
Dec 5, 2017 07:46
|
|
|
Sagebrush posted:if it does, then it's just a matter of checking to see if the suspicious money has drug residues above the background level.. Massive cocaine residue on the $100 bills just means you're an investment banker which isn't actually illegal. Yet, in'shallah
|
|
#
?
Dec 5, 2017 08:11
|
|
|
Dude lookin on to this like it's a circus is what makes this worthy.
|
|
#
?
Dec 5, 2017 08:25
|
|
|
TotalLossBrain posted:Don't get excited about PhD availability in the gutter. We'll just keep importing them like before. At least that's what my place of employment does. The number of homegrown grads is small compared to foreign grads coming in. I've already got a tenure track job in Germany, so I'm not personally fussed at all. Only way I'd even consider going back to the USA is if there's a tenure track job for both me and my wife in it; failing that we're just going to watch the USA collapse from a safe distance (lol jk there is no safe distance).
|
|
#
?
Dec 5, 2017 08:55
|
|
|
Untrustable posted:Ah the SAR form. The longest form to fill out. Also don't forget the MTR; though that may be more of a casino thing than a bank thing. Not sure. I've worked at a casino but not a bank. All that bank secrecy act training was a fucker, and I didn't even handle money. People think it'd be easy to launder money through a casino but they are super vigilant. It used to be pretty easy, but then...y'know...the mob.
|
|
#
?
Dec 5, 2017 08:58
|
|
|
Update: They got the street back. http://www.sfgate.com/politics/article/SF-supervisors-to-vote-on-returning-private-12389377.php "A tony private street in the Richmond that was sold to a San Jose couple for $90,000 in a little-noticed tax auction over two years ago will be returned to the residents who live there. The San Francisco Board of Supervisors on Tuesday voted 7-4 to overturn the sale of Presidio Terrace, a looping, exclusive street that went on the auction block after its residents failed to pay $994 in back taxes. It turned out the Presidio Terrace Homeowner Association’s $14-a-year tax bill was being mailed to an accountant who hadn’t worked for the association in years. The bill applied to the common areas and green spaces on the circular street, which were lumped together and taxed as a “vacant” parcel, separate from residents’ homes. South Bay real estate investor Michael Cheng and his wife, Tina Lam, snatched up the property, and the supervisors approved the sale on Feb. 11, 2015 — one among 550 tax-default deals that were made official in a single unanimous vote. The sale was first reported in The Chronicle."
|
|
#
?
Dec 5, 2017 09:10
|
|
|
That's loving bullshit is what that is. Those people bought the street fair and square. You can bet your rear end that none of the rich assholes who live there would even entertain the notion of going back on a legal deal that benefitted them just because the other party said it was unfair.
|
|
#
?
Dec 5, 2017 09:16
|
|
|
Sagebrush posted:That's loving bullshit is what that is. Those people bought the street fair and square. You can bet your rear end that none of the rich assholes who live there would even entertain the notion of going back on a legal deal that benefitted them just because the other party said it was unfair. They (the street buyers) are going to sue San Fran apparently.
|
|
#
?
Dec 5, 2017 09:20
|
|
|
Feonir posted:They (the street buyers) are going to sue San Fran apparently. Wow they really think they have more money than
|
|
#
?
Dec 5, 2017 09:23
|
|
|
BovineFury posted:Update: Oh what the gently caress
|
|
#
?
Dec 5, 2017 09:43
|
|
|
I at least talked neighbor out of investing into Bitcoin. Someone he knows invested $20,000 into this in the hope his broker will pay him out to the tune of $12 million. I told him to tell his mate to try and get that $20k back... Somehow.
|
|
#
?
Dec 5, 2017 09:43
|
|
|
Malachite_Dragon posted:Do not lick your dollar bills to try and get high. Have you met my friend who has the Goldschläger pyramid scheme going? It's genius but it involves a lot of poop-looking. Actually I'm not sure what his angle is.
|
|
#
?
Dec 5, 2017 09:49
|
|
|
WebDog posted:I at least talked neighbor out of investing into Bitcoin. Someone he knows invested $20,000 into this in the hope his broker will pay him out to the tune of $12 million. $20k is insanely easy to get back. Might take two days to convert it to cash.
|
|
#
?
Dec 5, 2017 09:51
|
|
|
hanales posted:Possibly, but when you bring a bag of cash in reeking of weed it's a little different they should have laundered it
|
|
#
?
Dec 5, 2017 10:40
|
|
|
Korgan posted:Oh what the gently caress Nancy Pelosi went to bat for the rich folks unsurprisingly. We need new blood.
|
|
#
?
Dec 5, 2017 10:45
|
|
|
Mu Zeta posted:Nancy Pelosi went to bat for the rich folks unsurprisingly. We need new blood. BLOOD FOR THE LIBERTY TREE
|
|
#
?
Dec 5, 2017 10:55
|
|
|
|
| # ? May 15, 2024 18:32 |
|
|
Just in time for the cuntservative/Nazi government, the Austrian supreme court has shitcanned the law banning gay marriage, meaning it will now automatically be allowed starting Jan 1 2019 "unless the parliament decides to allow it earlier". Last time we had this garbage political constellation, the supreme court rolled back pretty much every single one of their efforts. This time, the govermnent isn't even fully decided and already the supreme court shat on their lunch.
|
|
#
?
Dec 5, 2017 11:47
|
|
