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Scene: 1983, a crumbling apartment block in Kiev... A man sits at his table with his morning vodka and potato. The table has a wobbly leg and the potato is already starting to bud. He sighs deeply and takes a drag of his cigarette. "Life... life is not much the same as old way, but cheer up," he tells himself. "Things could be worse." "How?" shouts his wife from the next room, where she is draping his stained undershirts to dry over a radiator that hasn't worked in four years. "How can it be worse?" "I could be that Reddit boy with $120,000 of non-dischargeable student loan debt at 11% interest."
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# ? Feb 4, 2018 21:18 |
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# ? Jun 8, 2024 06:47 |
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OP already deleted but I love that all the comments, despite "the boyfriend's going to see this post", are basically "get rid of him".
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# ? Feb 4, 2018 21:44 |
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$120k in student loan debt sucks balls but it's not that uncommon, and student loan debt isn't Shameful. They're both broke as poo poo, have a negative net worth, and he makes 25% more than her. What's she freaking out about?
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# ? Feb 4, 2018 22:19 |
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GoGoGadgetChris posted:$120k in student loan debt sucks balls but it's not that uncommon, and student loan debt isn't Shameful. He seems irresponsible. See the $60k owed to his uncle with no plan on how to pay that back.
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# ? Feb 4, 2018 22:49 |
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Also the $15k car loan when they live in an area with usable public transit(as someone in the comments pointed out, his car expenses effectively make his 'fun money' $700/mo) and the $5k in credit cards, all while he's only making minimum payments on everything. Dude's going to be in debt forever unless he has a major attitude shift.
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# ? Feb 4, 2018 23:04 |
FrozenVent posted:The bank in which Coinbase stores USD deposit is FDIC insured. If that bank fails, the accounts are covered. No that is not how FDIC works there is no coverage for coinbase or anything related to coinbase
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# ? Feb 4, 2018 23:51 |
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For all that debt one of the things she's complaining about is that he's not focusing on paying off the debt. Give him another 5-10 years and he'll have $100k of credit card debt.
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# ? Feb 4, 2018 23:56 |
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Pryor on Fire posted:No that is not how FDIC works there is no coverage for coinbase or anything related to coinbase Coinbase has custodial accounts in an FDIC insured bank. That's what Coinbase means when they say they're FDIC insured.
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# ? Feb 5, 2018 00:11 |
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Pryor on Fire posted:No that is not how FDIC works there is no coverage for coinbase or anything related to coinbase Coinbase is a website, they can actually publish text there: quote:Digital Currency Balances
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# ? Feb 5, 2018 00:18 |
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ryde posted:Let I checked Coinbase only insures the usd balance. FDIC insures USD balance. They have private insurance to cover the crypto currency. https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured- FrozenVent posted:The bank in which Coinbase stores USD deposit is FDIC insured. If that bank fails, the accounts are covered. That’s not what they say.
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# ? Feb 5, 2018 00:19 |
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How can I fix this 452k mess? Complete financial picture inside.quote:2 points submitted 9 hours ago * by 22hitman22 No, he has not explained in the comments why he felt justified in buying a $30k+ vehicle. Propaniac fucked around with this message at 02:59 on Feb 5, 2018 |
# ? Feb 5, 2018 02:55 |
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Propaniac posted:How can I fix this 452k mess? Complete financial picture inside.
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# ? Feb 5, 2018 02:59 |
No, that is not how the FDIC works. The FDIC does not insure accounts for companies that you do business with on your behalf. It doesn't matter what kind of currency you deposit or what special name they give the account. They are not getting the necessary paperwork in place to create proper custodian accounts, which is the only way you could actually get paid out by the FDIC. Whatever coinbase is claiming they "protect" is either some completely different instrument or they are using some bullshit legalese weasel terminology. Why on earth would you take any business at their word on this? It's complete bullshit.
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# ? Feb 5, 2018 03:47 |
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I had a look at that thread and No one raised the issue of construction risks. Even if they sell their house and eliminate the existing mortgage banks are tight on construction lending. Then add in unexpected construction costs and they could be sunk financially. Already having $20k of credit card debt is insane and the OP dismissed the debts as something they accumulated while dating or some bullshit excuse. I almost suspect they think they're doing well with the lifestyle they're leading despite insane debts.
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# ? Feb 5, 2018 04:02 |
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Subjunctive posted:FDIC insures USD balance. They have private insurance to cover the crypto currency. Cocoa Crispies posted:Coinbase is a website, they can actually publish text there: coinbase posted:FDIC pass-through insurance protects funds held on behalf of a Coinbase customer against the risk of loss should any FDIC-insured bank(s) where we maintain custodial accounts fail. It says in the bolded section even that FDIC applies only to the banks failing not coinbase.
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# ? Feb 5, 2018 04:44 |
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Someone please explain what this Coinbase chat means like I’m an idiot.
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# ? Feb 5, 2018 05:45 |
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All actual bank deposits are insured by the government, so you don't lose your money if the bank fails. Coinbase is using deceptive marketing to imply that USD deposits with them are also covered by this insurance, but they aren't covered in any meaningful way.
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# ? Feb 5, 2018 06:19 |
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Pryor on Fire posted:No that is not how FDIC works there is no coverage for coinbase or anything related to coinbase No, he's right. FDIC pass through insurance insures your coinbase account if the bank fails. Of course, insurance against bank failures is nice but hardly the major risk. The big risk on a cryptocurrency exchange is that the exchange fails and your $100,000 USD "account" is now just a debt against coinbase should when they declare bankruptcy. FDIC insurance will do you no good should this happen.
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# ? Feb 5, 2018 06:56 |
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Propaniac posted:How can I fix this 452k mess? Complete financial picture inside. The fact that he views everything in minimum payments per month says a lot. I like his comments too, "Yeah but do you we realize we net $5900 a month, not gross?". I can't imagine how I'd even begin to pay back all for that money, I'd file for bankruptcy ASAP.
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# ? Feb 5, 2018 12:09 |
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https://www.reddit.com/r/personalfinance/comments/7vefyc/not_getting_paid_need_advice/quote:So this is a slightly complex situation. I have been working with my best friend for 7 years now. In 2015 the guy we were doing working for(we are contractors) announced that he was going to retire and he wanted to give the company to my friend who he had known for awhile and hired before myself. He gave my friend a year to prepare to take over and told him he would need about 20k cash on hand to pay the contractors which would be myself and one other guy who we recently had brought on at the time.
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# ? Feb 5, 2018 13:40 |
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Guy working some sort of labor oriented blue collar job has 70k to throw around and doesn't really need to get paid, but doesn't understand the value of money or the first thing about business. Massive inheritance at a young age?
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# ? Feb 5, 2018 14:22 |
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baquerd posted:Guy working some sort of labor oriented blue collar job has 70k to throw around and doesn't really need to get paid, but doesn't understand the value of money or the first thing about business. Massive inheritance at a young age? Or reasonably specialized and frugal. And way too trusting it would seem.
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# ? Feb 5, 2018 14:47 |
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An acquaintance was complaining that her 5+ Apple gadgets are having iTunes sync issues. The gadgets and Mac were all bought in the last 2-3 years. First she was going to swap her iPhone for a Pixel because "the commercial was so great, it looks perfect for me!" But she decided to go to the Apple store for tech support instead. She left the Apple store with a new $1700 iMac.
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# ? Feb 5, 2018 15:22 |
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strawberrymousse posted:An acquaintance was complaining that her 5+ Apple gadgets are having iTunes sync issues. The gadgets and Mac were all bought in the last 2-3 years. Don't kink shame. Also that iMac will probably be the last PC she ever buys.
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# ? Feb 5, 2018 16:06 |
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a dingus posted:The fact that he views everything in minimum payments per month says a lot. I like his comments too, "Yeah but do you we realize we net $5900 a month, not gross?". I can't imagine how I'd even begin to pay back all for that money, I'd file for bankruptcy ASAP. He... he repeated it multiple times, too, as if somehow the reader had comprehension issues, rather than himself.
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# ? Feb 5, 2018 18:48 |
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Maybe "net" means after he's paid all his debt payments
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# ? Feb 5, 2018 19:12 |
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Solice Kirsk posted:PM me. I can explain everything and give you ideas on what will work. You'll have to tell me a little bit more about whats going on with your previous bank though. I’ll try to do that some time today. Thanks. EDIT: PM sent. I. M. Gei fucked around with this message at 19:57 on Feb 5, 2018 |
# ? Feb 5, 2018 19:38 |
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[flagged] Lost so much $ on cryptocurenecy . what to do 34 points by hamiltonians 5 hours ago | flag | hide | past | web | favorite | 39 comments I invested a w 6-figure number on bitcoin and etherum 2 months ago. Watched a profit turn into a large loss. Pretty uh I am paralyzed. Work going downhill. My life feels ruined Any advice EDIT: My favorite reply: seibelj 5 hours ago [-] You should look into a philosophy called stoicism. You have lost money, but it sounds like you still have your health. Many people would trade every penny they have and more to be able to walk, breathe, and live unencumbered. It's only money - you can make more. Things can always be worse, and always be better.
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# ? Feb 5, 2018 22:06 |
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I'm currently asking someone I know who invests cryptocurrency whether or not they use coinbase, and if they know FDIC does not insure cryptocurrency. This person is also an accountant with an MBA edit: he uses coinbase, I responded about fdic insurance and awaiting answer edit2: he knew, and I ended up learning something anyway. Reading thread because I am the Bad with Money person in our circle Good Tuesday fucked around with this message at 23:47 on Feb 5, 2018 |
# ? Feb 5, 2018 23:26 |
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It's not "investing in craptocurrency", it's "gambling on craptocurrency".
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# ? Feb 6, 2018 00:19 |
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I think it's real.
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# ? Feb 6, 2018 01:11 |
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Weatherman posted:craptocurrency
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# ? Feb 6, 2018 01:12 |
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This but their eyes are bitcoins.
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# ? Feb 6, 2018 01:29 |
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Hoodwinker posted:This but their eyes are bitcoins. Someone get on this
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# ? Feb 6, 2018 01:33 |
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Weatherman posted:It's not "investing in craptocurrency", it's "gambling on craptocurrency". To be fair, so is most equity investment. Few people pick stocks on the basis of their dividends.
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# ? Feb 6, 2018 01:33 |
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Adorable if true.
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# ? Feb 6, 2018 01:42 |
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"For charity" (Metropolitan Guinea Pig Rescue)
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# ? Feb 6, 2018 01:46 |
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BWM, BestWL.
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# ? Feb 6, 2018 01:54 |
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Inept posted:"Professional" gaming and streaming aspirations are going to gently caress up a generation of nerds It's basically pro sports but without the massive payouts that pro sportsmen actually get out of the astronomically low chance if they become big stars. Besides, streaming games every waking hour has a atrociously bad income/time spent metric compared to those making low effort lolcat videos in the "actually making money off videos" category.
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# ? Feb 6, 2018 02:03 |
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# ? Jun 8, 2024 06:47 |
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Subjunctive posted:To be fair, so is most equity investment. Few people pick stocks on the basis of their dividends. To be fair, there are significant differences between pieces of equity in actual companies and internet pogs, and you of all people should know that.
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# ? Feb 6, 2018 02:03 |