Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

cowofwar posted:

Fake antiques is a huge industry that preys on idiots.

https://www.restorationhardware.com/

# ? Jan 19, 2018 22:24

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# ? May 14, 2024 00:55

KingSlime: Mar 20, 2007; Wake up with the Kin-OH GOD WHAT IS THAT?!

The massive salary drop guy is attention grabbing but it seems like he worked out a deal where he only works one day out of the week until the "cash issues" are resolved.

Still terrible but not as bad as it seems at first

# ? Jan 19, 2018 23:09

Orange DeviI: Nov 9, 2011; by Hand Knit

Some real company loyalty, too. Or there's some red flags he's not telling us about which would make finding a different job difficult.

# ? Jan 19, 2018 23:12

KingSlime: Mar 20, 2007; Wake up with the Kin-OH GOD WHAT IS THAT?!

Hopefully he's just inexperienced. It takes time for fresh grads to work through the Stockholm syndrome many seem to develop for the people who sign their checks. Before long, most people realize that said paychecks are compensation for labor/output, nothing more and nothing less

# ? Jan 19, 2018 23:16

Hoodwinker: Nov 7, 2005

That'll do Parm. That'll do.

# ? Jan 19, 2018 23:38

Sundae: Dec 1, 2005

quote:

For reasons that I�d prefer not to discuss, I need to make $2000 in 6 months.

I'm going to go out on a limb and bet that he lives in a state that bans third-trimester abortions, and this may also be why his parents won't let him keep any money of his own. (Though maybe he's covered that in his "medical rut" part.)

Sundae fucked around with this message at 00:44 on Jan 20, 2018

# ? Jan 20, 2018 00:41

Youth Decay: Aug 18, 2015

WSJ article about LuLawsuits

quote:

In early 2016, Amy Jo Reece became a retailer for clothing company LuLaRoe, paying $6,900 for apparel to sell from her home in Culpeper, Va. Two years later, Ms. Reece says she is stuck with $14,000 worth of LuLaRoe inventory sitting in boxes in her basement.

Ms. Reece was among the tens of thousands of women drawn to LuLaRoe�s message of financial empowerment and community, and loved the brand�s brightly patterned, buttery-soft leggings.

That dream has now soured. Accusations and at least a dozen lawsuits seeking class-action status are piling up against the company. Some allege the California-based apparel maker�s billion-dollar empire is essentially a pyramid scheme, with its founders and top recruiters raking in profits at the expense of the majority of the brand�s sellers.

Other lawsuits say LuLaRoe�s clothing proved defective, and that the company didn�t honor its return policy, leaving people like Ms. Reece�who is a plaintiff in one lawsuit�saddled with unsalable merchandise. Some lawsuits claim the company grew so quickly that retailers began to compete for customers in saturated markets.

LuLaRoe denies the accusations and is fighting the lawsuits. �LuLaRoe exploded in popularity overnight, and like other fast-growing businesses, our success has generated competitive attacks and predatory litigation,� the company said in a statement.

�I often say LuLaRoe works for you, you don�t work for LuLaRoe. � I do not say it�s easy for everyone.�

�LuLaRoe founder DeAnne Stidham

Beyond the legal claims, however, are broader questions about so-called multilevel marketing, in which companies derive revenue from a network of nonsalaried salespeople, who make money by selling directly to consumers or, more commonly, through commissions for the work of �down-line� distributors they recruit.

The Federal Trade Commission has warned that some �MLMs��also known as direct-sales companies�may have unfair and deceptive compensation structures. Consumer watchdogs including Consumer Awareness Institute and Pyramid Scheme Alert describe the businesses as exploitative schemes, in which they say just 1% of participants make money. In 2016, nutritional products company Herbalife Ltd. agreed to pay $200 million to settle with the FTC and restructured its business to avoid being classified as a pyramid scheme.

LuLaRoe said in a statement that it isn�t �negative on the MLM business model,� but said its brand �simply does not align itself with companies whose primary focus is on recruiting, as opposed to focusing on retail sales.� The company also said more than 80% of its 70,000 active retailers �focus exclusively on their own retail business� and don�t recruit other retailers or participate in the company�s bonus plan that rewards retailers for new recruits and a commission on recruits� sales.

�I often say LuLaRoe works for you, you don�t work for LuLaRoe,� founder DeAnne Stidham said in a November interview with CBS News, adding: �I do not say it�s easy for everyone.�

Many of the company�s retailers are true believers. Amy Jo Reece said she owns 185 pairs of LuLaRoe leggings. PHOTO: MATT EICH FOR THE WALL STREET JOURNAL Founded in 2012 by Ms. Stidham and her husband, Mark Stidham, LuLaRoe quickly gained a following, particularly among young mothers from suburban and rural areas.

By 2017, according to the lawsuits, upward of 100,000 people across the U.S. had signed on as LuLaRoe retailers. New entrants had to initially buy inventory packages beginning at around $5,000. The company provides suggested retail prices, typically at a markup of 40% to 50% from wholesale. While retailers can set their own prices, they aren�t allowed to advertise prices below the company�s suggested price.

To remain active, the company says, retailers must sell a minimum of 33 pieces each month. Ms. Reece and other retailers active in online forums said this policy meant they had to buy 33 wholesale pieces from the company each month, which the company denies.

Many of the company�s retailers are true believers. Ms. Reece said she owns 185 pairs of LuLaRoe leggings. Fans have their own code: �Unicorns� describe highly desirable, rare items such as leggings with the �Hipster Lion� print, which sell for more than $100 a pair on eBay�far more than the average price of $25.

Michala McWhirter, a mother of two, became a LuLaRoe retailer in April 2016 from her Katy, Texas home. At first, she and a friend each put in 40 hours a week, selling items at a markup of around 50%. In 2016, Ms. McWhirter estimates she did around $54,000 in sales, for a profit of about $20,000, much of which she used to buy more inventory.

Ms. McWhirter estimated that she received bonuses of between $200 and $500 a month from LuLaRoe for sales made by her team of recruited retailers. �It really has done wonders for my family,� she said.

Amy Jo Reece said the merchandise in her basement couldn�t be returned to LuLaRoe because it was past the yearlong return date. PHOTO: MATT EICH FOR THE WALL STREET JOURNAL Last spring, after months of rapid growth in LuLaRoe�s retailer network, complaints began to emerge in online forums and in lawsuits, some of which are consolidated in California federal court. Customers complained that the company�s leggings ripped like �wet toilet paper,� while retailers reported sluggish sales and delayed returns and refunds.

Other lawsuits say plaintiffs were drawn in by promises of flexible, part-time work, only to find that financial success with LuLaRoe required nearly full-time work and constant personal investment.

Nancy Jacoby, a 50-year old LuLaRoe retailer from Tampa, Fla., said the company has experienced �growing pains� and sometimes doesn�t communicate well with retailers, but enjoys the flexibility and challenge of the work. She said she sold well over $30,000 of LuLaRoe merchandise since joining a year ago. �I know this is a growing business, and it�s going to take time and effort,� she said.

In 2017, LuLaRoe retailers generated more than $2.3 billion in retail sales, the company said. While LuLaRoe can�t track individual retailers� losses and profits through direct sales, it does track pricing and gross margins, which the company says remain strong.

The average annual bonus paid to eligible retailers in 2016 was $2,118, according to the company�s income disclosure statement. A select few, who represented less than 0.1% of all retailers, took in average bonuses of $1.1 million.

Ms. Reece and her daughters�who introduced her to LuLaRoe and worked alongside her�grew disenchanted early last year, as they struggled to find new customers. [/b]Ms. Reece said she resigned from LuLaRoe last summer, but added that because of delays and lack of communication from the company, she hasn�t been able to return her merchandise, much of which is now past the yearlong return date.[/b]

Last fall, Ms. Reece joined a lawsuit challenging LuLaRoe�s return policy. She said she spent upward of $40,000 on apparel and business expenses. In hindsight, she said, �I would not have done it at all.�

Even the folks at the top of the pyramid are catching on (Pam Webster's name gets touted by the company at conventions, she is one of the 0.0001% who actually got rich off LLR)

And the ones on the bottom are eating each other

# ? Jan 20, 2018 05:30

AreWeDrunkYet: Jul 8, 2006

So LuLaRoe is MLM and loot boxes?

# ? Jan 20, 2018 05:47

Devian666: Aug 20, 2008; Take some advice Chris.; Fun Shoe

AreWeDrunkYet posted:

So LuLaRoe is MLM and loot boxes?

The $5000 starter package and the lootbox style drop rates would give Electronic Arts are a hard on.

# ? Jan 20, 2018 06:54

kimbo305: Jun 9, 2007; actually, yeah, I am a little mad

I like how that article's success story made 27k annually. Part time flexibility is one thing, but she was 40hr/wk.

# ? Jan 20, 2018 08:58

BEHOLD: MY CAPE: Jan 11, 2004

It's almost like these various affiliate retailing businesses are an end run around minimum wage laws and are completely unviable as profitable businesses if the company is required to compensate the sellers at minimum wage for all the time they spend selling product. Can you imagine a retail clothing or vitamin store where employees are required to front all the money for the inventory and then sell it all back to customers at a profit or just eat the cost?

# ? Jan 20, 2018 14:21

sparkmaster: Apr 1, 2010

Kind of sounds like they were talking gross profit instead of net. So taxes, transportation, and selling expenses may not have been included. Amazing how unprofitable these MLM schemes are even for the upper echelon of sellers.

sparkmaster fucked around with this message at 21:14 on Jan 20, 2018

# ? Jan 20, 2018 14:51

BEHOLD: MY CAPE: Jan 11, 2004

MLM earnings disclosure tables are always in gross before non-inventory expenses. When you look at all the sellers that make some piddling amount in commissions over a year, without any question there are huge numbers of them that lose money in shipping, vehicle, etc. expenses.

# ? Jan 20, 2018 14:57

Puseklepp: Jan 9, 2011; like watching the most beautiful ballerina on the best stage

I don't get why people think they're running a business, like the minimum I'd expect from running my own business would be that I get to choose what I sell through my business.

These people are just salesmen on 100% commission with the added bonus of taking on all the risks for the stock they try to sell.

# ? Jan 20, 2018 16:18

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

Puseklepp posted:

I don't get why people think they're running a business, like the minimum I'd expect from running my own business would be that I get to choose what I sell through my business.

These people are just salesmen on 100% commission with the added bonus of taking on all the risks for the stock they try to sell.

The same thing goes for franchises. Oh you want to open a restaurant, but have absolutely no control over the food you serve? Obviously those people are more businessmen than restaurateurs, but it seems weird to aspire to running an operation with tons of risk and no creative input.

# ? Jan 20, 2018 16:25

Panfilo: Aug 27, 2011; EXISTENCE IS PAIN😬

Krispy Wafer posted:

The same thing goes for franchises. Oh you want to open a restaurant, but have absolutely no control over the food you serve? Obviously those people are more businessmen than restaurateurs, but it seems weird to aspire to running an operation with tons of risk and no creative input.

I figure the appeal is that you benefit from the consistent product the franchise offers customers. People know what to expect at McDonald's/Subway/etc and so you don't have to build up customer loyalty because there's already an established demographic.

I thought the worse downside of being a franchisee was that you have no control over corporate putting up another restaurant across the street from yours.

# ? Jan 20, 2018 16:44

BEHOLD: MY CAPE: Jan 11, 2004

Franchises have various exclusivity contracts and obviously given the history of fast food in the last 60 years a well operated franchise can be a good business model. One of the real problems with current franchise restaurant operations is that the market is becoming so saturated with chain fast food and fast casual restaurants that the only way to grow gross revenue (and thereby franchise fees) is to compete viciously on price, advertise unprofitable deals and promise the franchise owners that losing money on a $5 Subway foot-long will be recouped with drink and cookie sales. Whenever the economy next takes a significant downturn there is going to be a total loving apocalypse of franchise chain restaurants. It is a little crazy to me looking at suburban America how roads and commercial real estate are completely designed around the presence of dozens of chain restaurants per mile and what would happen if half of those went out of business all of a sudden.

# ? Jan 20, 2018 17:12

a dingus: Mar 22, 2008; Rhetorical questions only; Fun Shoe

Plus the barrier to entry for a franchise like McDonald's is a lot higher. It's easier to swindle someone for $5000 than $50000.

# ? Jan 20, 2018 17:14

Solice Kirsk: Jun 1, 2004; .

So for those that are interested, I just spoke to my former client that found out he was bitcoin rich today. He's still doing really really well, still cashing everything out in as big of chunks as he can, and doesn't care even in the slightest about the price dipping. I officially know a bitcoin millionaire now. So at least one exists.

# ? Jan 20, 2018 18:26

canyoneer: Sep 13, 2005; I only have canyoneyes for you

a dingus posted:

Plus the barrier to entry for a franchise like McDonald's is a lot higher. It's easier to swindle someone for $5000 than $50000.

Man, $50k is just the franchise fee. McDonalds won't sell you a franchise unless you have $1-2m ready to invest.

# ? Jan 20, 2018 18:35

crazypeltast52: May 5, 2010

Solice Kirsk posted:

So for those that are interested, I just spoke to my former client that found out he was bitcoin rich today. He's still doing really really well, still cashing everything out in as big of chunks as he can, and doesn't care even in the slightest about the price dipping. I officially know a bitcoin millionaire now. So at least one exists.

The best bitcoin story!

# ? Jan 20, 2018 19:07

Hoodwinker: Nov 7, 2005

Solice Kirsk posted:

So for those that are interested, I just spoke to my former client that found out he was bitcoin rich today. He's still doing really really well, still cashing everything out in as big of chunks as he can, and doesn't care even in the slightest about the price dipping. I officially know a bitcoin millionaire now. So at least one exists.

I'm super happy for this guy :unsmith:

# ? Jan 20, 2018 19:26

Moneyball: Jul 11, 2005; It's a problem you think we need to explain ourselves.

This thread is taking a turn away from schadenfreude towards happy, and I will not stand for it.

# ? Jan 20, 2018 19:38

Sirotan: Oct 17, 2006; Sirotan is a seal.

Drunk Tomato posted:

Is the BWM here that he is a lawyer only making 60k? I didn't even know that was possible.

Also, people hoping for student debt forgiveness are in for a big, unpleasant shocker.

There's been a couple people who have had their loans forgiven already under PSLF, so it's looking hopeful if you're currently enrolled in IBR. If nothing changes from now until 2027, the shocker will be trading loan payments for a massive tax bill.

# ? Jan 20, 2018 20:27

Photex: Apr 6, 2009

https://www.reddit.com/r/personalfinance/comments/7rsag4/i_owe_3000_in_taxes_what_do_i_do/

quote:

I'm a college graduate (Dec 2016), Single, with two jobs and no student loans. I used Turbo tax to file since I got both my W2 forms and just wanted to see how much I owe. I claimed 10 allowances for both Federal and State for both my jobs. The second job started in September (so I didn't make much in 2017). I don't make much in general, only made about 37,000 with the combined salaries. I rent an apartment and live on my own with no dependents. I don't feel like the amount I owe is correct, is it because I claimed 10 allowances for the entire year? Are there payment options, because there is no way I can pay $3000+ in taxes by April. Also, does renting an apartment count as a tax break, this is the first time I'm living on my own. This is also the first time I am not in school but I still have the same part time job I had throughout college. I've always received a refund (even after claiming 10 allowances) while I was in school.

Can someone explain why I am having to pay/owe so much in taxes?

# ? Jan 20, 2018 20:29

Moneyball: Jul 11, 2005; It's a problem you think we need to explain ourselves.

Sirotan posted:

There's been a couple people who have had their loans forgiven already under PSLF, so it's looking hopeful if you're currently enrolled in IBR. If nothing changes from now until 2027, the shocker will be trading loan payments for a massive tax bill.

Well surely those people will plan ahead for that tax hit, right?

# ? Jan 20, 2018 20:29

22 Eargesplitten: Oct 10, 2010

JFC that 10 allowance guy. Did he seriously not realize that the reason he was still getting a tax refund in school was because he was getting a tax credit for his tuition?

# ? Jan 20, 2018 20:32

Hot Dog Day #91: Jun 19, 2003

Moneyball posted:

Well surely those people will plan ahead for that tax hit, right?

Pslf is (currently) not a taxable event. Regular 20 year forgiveness is taxable. It could change, but hopefully won't because fygm

# ? Jan 20, 2018 20:35

Youth Decay: Aug 18, 2015

More BossBabe math:

In 2016: $86,000 divided by 60 times 20% commission = $286.67 per hun (not counting taxes and expenses)
In 2017: $133,718.555 divided by 160 times 20% commission = $167.15 per hun (not counting taxes and expenses)
Not exactly "awesome growth"
This is representative of what happens on a larger scale when any pyramid scheme grows in size - the average earnings per person decreases but more money is funneled to the few at the very top. If you look at the income disclosures from just about every MLM the average earnings per distributor decreases the longer the company has been in existence.

# ? Jan 20, 2018 20:39

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

Photex posted:

https://www.reddit.com/r/personalfinance/comments/7rsag4/i_owe_3000_in_taxes_what_do_i_do/

This...this right here is the best BWM high. Stupid enough to make me feel smugly superior, but not a soul crushing burden like 200k in student loans for a video game degree.

10 loving deductions.

Deduct your apartment on your taxes.

# ? Jan 20, 2018 21:04

22 Eargesplitten: Oct 10, 2010

Man, I should have screenshotted the facebook status of a junior high friend who posted a video about how you don't have to pay taxes. He said that no taxation without representation (is that even part of our law? DC has no representation) means you can choose to represent yourself and tell the IRS you owe $0.

TBF he probably doesn't make enough money for the IRS to bother coming after him, unless he and his girlfriend are still selling weed, get arrested, and that gets tacked on top.

# ? Jan 20, 2018 21:17

sparkmaster: Apr 1, 2010

Boy howdy I'm glad its tax time again. Good content, right in the vein.

# ? Jan 20, 2018 21:18

Cassius Belli: May 22, 2010; horny is prohibited

Krispy Wafer posted:

Deduct your apartment on your taxes.

He might not be completely lost there. Indiana lets you deduct up to $3000 of rent, and a couple other states have small renter's credits under certain circumstances.

# ? Jan 20, 2018 21:24

BEHOLD: MY CAPE: Jan 11, 2004

Yond Cassius posted:

He might not be completely lost there. Indiana lets you deduct up to $3000 of rent, and a couple other states have small renter's credits under certain circumstances.

Some countries deduct rent from income taxation, if you think about it the US government policy of specifically sponsoring home ownership versus any other cost of living makes less sense IMO

# ? Jan 20, 2018 21:27

Lead out in cuffs: Sep 18, 2012; "That's right. We've evolved."

"I can see that. Cool mutations."

BEHOLD: MY CAPE posted:

Some countries deduct rent from income taxation, if you think about it the US government policy of specifically sponsoring home ownership versus any other cost of living makes less sense IMO

I mean, it makes a lot of sense if loving over poor people (most of whom are minorities) are your intended goals, and that's been the case for most of the 20th century in the USA. Of course, the crime and other social burdens that come with a deeply inequitable society are arguably BWM on a national scale, but US politics is pretty good at trying to explain that one away.

# ? Jan 20, 2018 21:38

kimbo305: Jun 9, 2007; actually, yeah, I am a little mad

Krispy Wafer posted:

This...this right here is the best BWM high. Stupid enough to make me feel smugly superior, but not a soul crushing burden like 200k in student loans for a video game degree.

10 loving deductions.

Deduct your apartment on your taxes.

Do they ever explain themselves on what they were?

# ? Jan 20, 2018 23:36

Higgy: Jul 6, 2005; Grimey Drawer

kimbo305 posted:

Do they ever explain themselves on what they were?

They're not deductions. They're allowances on his W-4 which means he barely had anything taken out of his paycheck.

It's :discourse:

# ? Jan 21, 2018 00:11

Lead out in cuffs: Sep 18, 2012; "That's right. We've evolved."

"I can see that. Cool mutations."

Yeah the comment's now hidden after being downvoted for sheer stupidity, but here:

quote:

Okay I see, I only paid about about $130 for Federal and $100 for State. FML, I just liked seeing a bigger check every month. Thanks!

At least that's a mistake you only make once.

# ? Jan 21, 2018 00:43

Tomfoolery: Oct 8, 2004

A guy in Ask / Tell started a thread about working at a payday loan place. Hopefully he'll have some good stories!

https://forums.somethingawful.com/showthread.php?threadid=3846875

# ? Jan 21, 2018 00:51

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# ? May 14, 2024 00:55

Haifisch: Nov 13, 2010; Objection! I object! That was... objectionable!; Taco Defender

After 9 years together Bitcoin has cost me my marriage. (self.Bitcoin)

https://www.reddit.com/r/Bitcoin/comments/7m15em/after_9_years_together_bitcoin_has_cost_me_my/ posted:

I'm using a throwaway because I do post regularly to this and other subs and would prefer my situation not be linked.

I'm sitting here on Christmas morning, the only one in the house and nursing a glass of red wine as I type this out. I guess I should be clear, I realise that it was my own actions that caused my wife to leave me and not Bitcoin but it did play a direct role in leading me down the path that has brought me to where I am right now.

Several months ago I convinced my wife to allow me to redraw some of the equity in our family home. Thanks to a recent valuation we had almost $200K of approved equity available but we both agreed I would only redraw up to $50K max in blocks of $10K to buy Bitcoin.

Which I did.

Fast forward to over a week ago - Bitcoin was mooning and the FOMO was strong. I saw the price climbing rapidly and had visions of telling my wife over Christmas cocktails that we were going to buy a new car with our incredible windfall. So without her knowledge I decided to buy in with the remainder of our equity - all $150K and go long with the bulk of it. Those transactions completed several days ago and we all know what happened next.

She knew something was wrong with me because of how I was constantly checking the portfolio since the crash. Unfortunately the damage was done, I was completely REKT and in disbelief. I was tempted to leverage the BTC I had left to try and recover my losses but I knew that was just a losers game. Worst of all I had to tell my wife who had no idea what was coming.

I told her everything last night.

I won't go into the specific details but to say there was a lot of yelling, crying and screaming - all of it directed at me. I agreed to cash out what little BTC I had left and return it to the mortgage account. She packed her suitcase and called her sister who picked her up close to midnight and left without saying another word. After she left I did as we agreed, cashing out the BTC and transferring it to our account. I messaged her to say it had been done. An hour later I get a message back from her: It's over, you're reckless and stupid and I'm leaving.

I haven't slept all night. I don't think I will tonight either. I will always remember this Christmas now as the one when Bitcoin ended my marriage.

Merry Christmas everyone.

BEHOLD: MY CAPE posted:

Some countries deduct rent from income taxation, if you think about it the US government policy of specifically sponsoring home ownership versus any other cost of living makes less sense IMO

But owning a home is the American Dream�. :shepface:

e: This "invested recklessly" tag is a tiny goldmine, goddamn.

Don't repeat my mistakes. I had everything, now i am broke (self.Bitcoin)

quote:

After reading all these bitcoin success stories around here, i decided to share my story of failure, in order to protect people from the mistakes i made. I have no intend to ask for a help, but a bit of moral support will be very helpful. I am very ashamed of my ignorance, it's hard to admit it, but i will try.

I was into bitcoin for about a 2 years. All that time i was buying btc and hodling, never sold a single satoshi, waiting for times when i could spend it without converting into fiat. I was lunatik about how cryptocurrency will make a world a better place (and i am still is), this ideology changed my life. My family and friends, which mostly are people from my christian community, never supported these interests. We were always arguing about gambling component and how our religion is against it. And about bank system, etc.

I wont brag you how much i had btc, but for me and my family it was a very big money.

And i did couple major mistakes. Frankly, i think i did EVERYTHING wrong and it ruinded my life.

I borrowed money to buy crypto
I kept other people's crypto in my wallet
I never thought enough about securing my wallet
I have lost cold mind and become obsessed

So, first of all, i was so blinded with bitcoin success, that i was maniacally looking for a money everytime the price was dropping. Especially last half a year, if i had no money, i started borrowing as much, as i could return in 2018, "after some saving". It was very obviously for me that price will be higher and i will easily return the debt... But that's not a main problem.

You remember how i was obsessed with crypto? So i began to attract all relatives, friends and coworkers in cryptocurrency investing. Well, my boss was interested, but not as much to deal with "registration and stuff". And he gave me some money, so i could buy coins for him. At first, ammounts was so small, i didnt bother to make a separate wallet for him. And all the time i was thinking that soon it will be done. But as price was growing, boss became more interested and start to invest more and more money, never bothering to make himself a wallet. And i didnt thought much about it aswell. That was a big mistake.

And finally, the main reason i am telling this story. I think you already know what happened. I lost my wallet. I had only 2 copies of my wallet, "cold storage" as i thought. One on usb stick, and one on my old laptop, that i was using only for cryptocurrencies. I was stupid enough to keep both copies in one place, but this is not that fact that have destroyed me. My obsession pushed me to check my wallet all the time, not only looking online in the blockchaine, i had to check it by logging into wallet on my "cold laptop", and sometimes to check if usb-stick are working properly. Yep, i am idiot, and deserve to suffer, i know. One time i was stupid enough, to check both laptop and stick, after that i was distracted by a phone call and i forgot about everything. Went to a bedroom, got sleep and went to the job at the morning. when i returned from work, i found out that i had been robbed, they took both laptops (one new and that "old one" with a usb-stick in it) and some minor other things. Some time has passed, the police said they will take care of my laptops as soon as they catch all the murderers and stuff... Frankly, that's normal for my country i did not expect more. Wallets were encrypted with a password, no movement in my addresses. To be honest i doubt that the robbers understood what they had stolen. Btw, seed have been saved in txt file... On the same laptop and usb-stick.

Now i am broke, boss fired me, threatens me and has already contacted all possible employers in our town. I owe money to everyone i know. And the worst thing, that i have no support from my family and friends... They just saying things like "we told you!". I am depressed and completely confused in my believes, my loved ones and everything else.

Today i am going to an interview for some job. I will try my best to get things done. But you have no idea how it is tough to knowing you have lose everything. So please, don't make such mistakes. Secure your wallet, make some copies, don't keep all the copies in one place, and PLEASE NEVER BORROW money to buy crypto!

Sorry for my english and God bless you!

Haifisch fucked around with this message at 03:15 on Jan 21, 2018

# ? Jan 21, 2018 03:11

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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