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My cousin has been working as an unpaid intern for an ICO (gets paid in ICO tokens) in California. He works as a telemarketer for the start-up ICO company, attempting to get accountants, web developers, etc. to volunteer man-hours to help "build the company" in exchange for ICO tokens. He and his fiancee both have meteorology degrees and work part-time in a bank as tellers. As he began to realize he can no longer afford to live in California, he recently discovered a fool-proof get rich quick scheme. He is a huge fan of baseball, and therefore sports betting. He believes he discovered a loophole in online sports betting. He goes to every Oakland A's baseball game, and sits as close to home plate as possible. He says there is a 7 second window to place a bet on the Carribean-based sports betting websites after the ball hits the bat. In that 7 second window, he's been placing large bets, because he says he can tell from his vantage point and the sound of the crack of the bat whether it will be a home run or not.
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Jul 16, 2018 15:24
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Lol I mean to be fair he has the best information you can possibly have, sometimes it is very obvious when somebody has hit a homerun, and it's not impossible to imagine that there can be an exploitable situation created by what he is doing. Probably his account is going to get banned after enough of this suspicious looking activity.
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Jul 16, 2018 15:33
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Good Parmesan posted:He says there is a 7 second window to place a bet on the Carribean-based sports betting websites after the ball hits the bat. In that 7 second window, he's been placing large bets, because he says he can tell from his vantage point and the sound of the crack of the bat whether it will be a home run or not. 
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Jul 16, 2018 17:12
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Wouldn't those kinds of microbets have absolutely miserable odds? Like he could get 10 in a row because of his special ears and then lose 100x his winnings on one really loud foul ball?
Krispy Wafer fucked around with this message at 18:00 on Jul 16, 2018 |
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Jul 16, 2018 17:18
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Krispy Wafer posted:Wouldn't does kind of microbets have absolutely miserable odds? Like he could get 10 in a row because of his special ears and then lose 100x his winnings on one really loud foul ball? I think "next pitch to be a home run" is generally going to have long odds, there were only ~2.6 per game in 2017 (on ~300 pitches). The numbers would vary based on pitcher/batter but I can't imagine they'd ever be shorter than +2000ish That said, this guy is dumb as hell and his plan is lovely and stupid
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Jul 16, 2018 17:29
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Good Parmesan posted:My cousin has been working as an unpaid intern for an ICO (gets paid in ICO tokens) in California. He works as a telemarketer for the start-up ICO company, attempting to get accountants, web developers, etc. to volunteer man-hours to help "build the company" in exchange for ICO tokens. Holy poo poo, this is the stuff I'm here for.
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Jul 16, 2018 17:53
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7 seconds? Wouldn’t you be able to see the ball’s trajectory by that point?
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Jul 16, 2018 18:02
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crazypeltast52 posted:7 seconds? Wouldn’t you be able to see the ball’s trajectory by that point? He did say based on his vantage point so I assume he’s as close behind the batter as possible. A foul ball hit far is going to sound virtually indistinguishable to a HR so he’d need to see trajectory if it’s close to the foul line. Even then on a windy day it’s far from a sure thing. The A’s suck this year but I’d imagine those seats would be pretty pricey nonetheless. Maybe GWM if he loves baseball and uses it to offset the cost of the ticket. Sounds like a lovely way to spend time at the ballpark of every time there’s someone decent at bat you have to look down and fumble with the phone instead of enjoying the game.
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Jul 16, 2018 18:13
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The 7 second window refers to the time he has before the odds change, as it's considered "in-play betting." The bet he is playing is for win/lose, I believe, based on the spread and odds given at the moment before the pitch. He's been scalping seats before every game to try to get as close to the catcher he can.
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Jul 16, 2018 18:14
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therobit posted:Bad With Money 2018: A degree in Video Game Design is a pre-professional program. That reminds me of the classic: https://www.youtube.com/watch?v=BRWvfMLl4ho Good Parmesan posted:The 7 second window refers to the time he has before the odds change, as it's considered "in-play betting." The bet he is playing is for win/lose, I believe, based on the spread and odds given at the moment before the pitch. Do you know if he's taken any money out yet? I'm kinda on board with the degenerate gambler aspect of it, but turning crypto payments into offshore sports betting funds and getting that back out seems like a tall order.
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Jul 16, 2018 19:04
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His bank account is linked to the sports betting site, and has been making the bets in USD. He says he's cashed out $15,000. The bets he makes are for $2000 each.
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Jul 16, 2018 19:16
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Spokes posted:I think "next pitch to be a home run" is generally going to have long odds, there were only ~2.6 per game in 2017 (on ~300 pitches). The numbers would vary based on pitcher/batter but I can't imagine they'd ever be shorter than +2000ish As lovely as this is in baseball, there actually was a big scandal a couple of years ago where people were rigging these bets in cricket. A bowler was colluding with some people to make in-play prop bets like "next ball is Wide" pay off huge. (Also, something like a Wide in cricket doesn't require a player on the opposing team to cooperate to make the bet happen, like a pitcher trying to give up a home run would. I guess you could do it for props on intentional walks or something, if that's a thing.)
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Jul 16, 2018 19:21
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Power of Pecota posted:Do you know if he's taken any money out yet? I'm kinda on board with the degenerate gambler aspect of it, but turning crypto payments into offshore sports betting funds and getting that back out seems like a tall order.
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Jul 16, 2018 19:31
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Leon Trotsky 2012 posted:How do they actually verify the income and other financial information of the borrowers? And is there any recourse for lenders if someone defaults? Microfinancing seems like it is ripe with potential for fraud and BWM. They do the same checks that a bank does. There's no recourse for the individual lenders but Harmoney does go after them where there is money to recover (my statistics show only 5% of money recovered from defaults). I don't recommend lending in volume to any credit grades worse than B5.
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Jul 16, 2018 19:36
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Good Parmesan posted:His bank account is linked to the sports betting site, and has been making the bets in USD. He says he's cashed out $15,000. The bets he makes are for $2000 each. I'm the part where he's linked his primary checking account to an overseas gambling site.
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Jul 16, 2018 19:36
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CellBlock posted:As lovely as this is in baseball, there actually was a big scandal a couple of years ago where people were rigging these bets in cricket. A bowler was colluding with some people to make in-play prop bets like "next ball is Wide" pay off huge. (Also, something like a Wide in cricket doesn't require a player on the opposing team to cooperate to make the bet happen, like a pitcher trying to give up a home run would. I guess you could do it for props on intentional walks or something, if that's a thing.) There was also the fat goalie from a tiny British soccer team who inspired a "will he eat a pie on the sidelines" prop bet, learned about it, ate a pie on the sidelines because of it, and got fired. Wolfy posted:These sites are pretty good about paying out. They're absolutely going to figure out what he's doing sooner or later though. I've messed around on one of them before with primarily dinky little bets over the past few years (highlight - $10 to win $180 on Gina Torres attending the royal wedding this year), but both times I've cashed out I've just eaten the processing fees to not have to gently caress around with crypto.
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Jul 16, 2018 19:38
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Power of Pecota posted:That reminds me of the classic: My dad always asked me when I was going to grow out of computer games. Joke's on him, because now I'm suicidally depressed and estranged from him.
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Jul 16, 2018 20:04
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BEHOLD: MY CAPE posted:Lol He'll only get banned If he's actually successful. There's a good chance that he'll still lose a bunch of money even with his supposed advantage.
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Jul 16, 2018 20:04
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Having thought about this a little more, given that there is apparently money to be made on in-game micro prop betting I guess I'm kind of surprised that nobody has yet written a custom cell phone app that can use the camera and a bunch of fixed inputs such as the location of home plate and the fence distances to figure out whether a baseball is likely to be a home run in very short order. I think if you had two camera inputs from two different vantage points this could be done with a very high level of precision in normal weather conditions.
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Jul 16, 2018 20:23
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You would probably have to run your own cable to do that with the latency that cell phones get in major stadiums, even ones with wifi.
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Jul 16, 2018 21:01
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Have any of you ever actually seen or played baseball? Some homers are absolutely obvious from the moment they leave the bat.
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Jul 16, 2018 22:10
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Devian666 posted:I've been making changes to my autolending for P2P loans with the new parameter being any loans over $50k. The typical loan on the market is like one I've seen today. Late to the party but how the hell does one even need an interest bearing loan for university here? Unless they are a perpetual student who already burned through their multiple years of interest free student loans. Maybe a medical post grad student at a stretch? Even needing an interest bearing loan would be sufficient indication of questionable life decisions to give pause before loaning large sums...
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Jul 16, 2018 23:19
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I agree, but I think the current student loan system has a cap at about 4 years so if you are doing a masters degree you are kind of hosed. The loan applicant was over 40 so the chances of previously burning through loan and student allowance is pretty high. However getting over $70k in debt studying and going on holidays is pretty stupid. Especially with those repayments being a similar size to paying a mortgage ($70k + interest due to be repaid in 5 years). It certainly gives an insight to the BWM going on in New Zealand. e: I was reading a local financial news site and one of the commenters stated that he'd tried to get some friends into Kiwisaver and explained why the money was safe from central Government. They didn't listen and they've just retired I'm assuming at 65. Of course they have no Kiwisaver money, probably little or no investments but they do still have mortgage repayments to make. I suspect a number of people are going to discover the grim reality of retiring and trying to survive on superannuation with debt obgligations. Devian666 fucked around with this message at 23:38 on Jul 16, 2018 |
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Jul 16, 2018 23:33
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Yeeep that's pretty much MyInLaws.txt One of the recent tertiary changes has been to increase the EFTS cap on student loan borrowing for specific degrees (I think specific anyway) so dentists, doctors and vet students are rejoicing. A lot of my classmates completed a BSc before crossing over. Tell you what though some terrifying BWM among the international students. One expects a student loan debt via US lenders of ~440k NZD. Calculated she'd have it paid off at minimum repayments by age 86. Tamarillo fucked around with this message at 00:00 on Jul 17, 2018 |
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Jul 16, 2018 23:57
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That student loan debt is more than I paid for my house. We're going to have a few generations of people hosed by debt before they even start their career.
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Jul 17, 2018 01:13
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Sitting down running the OR desk when I overheard two of the dumbest loving employees I work with griping about millennials moving back in with their parents. These are women who got unbelievably cushy government jobs with pension at age 18 forty years ago and between the two of them are basically barely literate, and they have the gall to complain that young people can't afford to go out and buy houses. One of them complained it was the fault of women joining the workforce. "I said three things would happen, cars would get more expensive, houses would get more expensive and tuition would get more expensive."
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Jul 17, 2018 01:52
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I'm putting together a lunch and learn type presentation on retirement savings to give to my fellow developers in the next couple of weeks, so I may or may not end up with some BWM stories out of it. In all honesty, I hope I don't, but I've been reading this thread too long to know otherwise in my heart.
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Jul 17, 2018 02:13
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"The stock market is a bunch of made up numbers so I don't invest in my 401(k)" Ok - fine - But you can invest it in a money market cash account and get the match! "Only if they allow me to invest directly into purchasing property or gold bullion - you know - real things" uugghgughguh
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Jul 17, 2018 02:45
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[Person] works in commercial real estate and it's incredibly annoying because all [person's] coworkers refuse to participate in the 401k with GENEROUS match because "We know more than anyone that it's all about real estate!!!! REAL stuff that can never go *poof*!" The best is when people "trade up" with the time constraints of a 1031 exchange by selling their own property for too little and paying too much for the bigger property. Great job, you avoided taxes, and took a huge (unrealized) loss on the deal. GoGoGadgetChris fucked around with this message at 02:51 on Jul 17, 2018 |
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Jul 17, 2018 02:49
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Lowness 72 posted:"The stock market is a bunch of made up numbers so I don't invest in my 401(k)" i mean look if you're going to take it to that level might as well just buy .308 / 5.56 / 7.62 / .22lr by the case
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Jul 17, 2018 02:53
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EAT FASTER!!!!!! posted:Sitting down running the OR desk when I overheard two of the dumbest loving employees I work with griping about millennials moving back in with their parents. These are women who got unbelievably cushy government jobs with pension at age 18 forty years ago and between the two of them are basically barely literate, and they have the gall to complain that young people can't afford to go out and buy houses. Please add to Boomers.txt, tia.
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Jul 17, 2018 03:06
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Lowness 72 posted:"The stock market is a bunch of made up numbers so I don't invest in my 401(k)"
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Jul 17, 2018 03:20
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GoGoGadgetChris posted:[Person] works in commercial real estate and it's incredibly annoying because all [person's] coworkers refuse to participate in the 401k with GENEROUS match because "We know more than anyone that it's all about real estate!!!! REAL stuff that can never go *poof*!" When are they selling next? I would like to buy from a motivated 1031 seller. Maybe also sell it to another of them looking for a 1031 upleg? Vox Nihili posted:Please add to Boomers.txt, tia. Link?
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Jul 17, 2018 03:58
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Is this the right subreddit for; “My partner and I are getting pretty serious, and she’s finally decided to share with me her student loan debt. Turns out, she stopped paying into it roughly five years ago and it’s been turned over to collections ever since.”? https://www.reddit.com/r/personalfinance/comments/8zgmfa/is_this_the_right_subreddit_for_my_partner_and_i/ quote:No one has called, no one has sent mail in years, her bank shows her having decent credit. But, her last letter from over two years ago has her at 30k. quote:We planned on getting her reports, she’s working that as I type this (even though it’s a tough spot for her). Bankruptcy being out the window sucks, I had hopes on that being a way to help her relieve some of this burden. She currently works in translations and interpretations as an office/project manager in ATL netting about 2.6k take home monthly (relevant below). The loans, as far as I can tell from the few letters she has on hand, state that they’ve been turned over to collections. But, it blows my mind that she hasn’t heard anything from those ravenous animals in years. quote:We’ll see shortly [if there are other debts she didn't tell OP about], there’s enough trust and honesty between us for me to get the feeling she’s being clear and clean about this. I mean, she’s highly intelligent, she wouldn’t be requesting her credit reports online right in front of me otherwise. SiGmA_X fucked around with this message at 04:09 on Jul 17, 2018 |
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Jul 17, 2018 04:04
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SiGmA_X posted:Is this the right subreddit for; “My partner and I are getting pretty serious, and she’s finally decided to share with me her student loan debt. Turns out, she stopped paying into it roughly five years ago and it’s been turned over to collections ever since.”? I dunno I think they can still bang just probably should never get married.
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Jul 17, 2018 04:13
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SiGmA_X posted:
Holy poo poo,  did find a new gf and this is his new savings plan. Is she into horses? Has this guy made her some spreadsheets?
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Jul 17, 2018 04:25
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This is why you never marry outside your caste
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Jul 17, 2018 06:03
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KYOON GRIFFEY JR posted:i mean look if you're going to take it to that level might as well just buy .308 / 5.56 / 7.62 / .22lr by the case Don’t you do that anyway? 
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Jul 17, 2018 08:20
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KYOON GRIFFEY JR posted:i mean look if you're going to take it to that level might as well just buy .308 / 5.56 / 7.62 / .22lr by the case Good investment for next time a Democrat wins office and/or society collapses. (IIRC there were nationwide ammo shortages during Obama's turn because of hoarding)
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Jul 17, 2018 10:55
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My coworker who went from full-time to casual/seasonal (losing her benefits) and took out a loan to focus on her online law degree is crying at her desk because she missed her first exam. Apparently, there is a proctor with the local school that does the exams in person. She assumed it would be online as well and was just waiting for them to upload it. I have no idea how clear they made this to students, but it feels like something you should know. Now, she says that she is looking into personal loans to cover another semester because she feels like this one is ruined. It might be, I have no idea how the grading works. She is apparently unable to take out any more student loans, so she's going to take out a personal loan somewhere instead of coming back full-time because... she needs to focus entirely on studying for exams.
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Jul 17, 2018 14:46
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