Fitzy Fitz posted:

pic of house if you don't feel like clicking:

Spring Heeled Jack posted:

My new hot take is that making fun of dipshit rich people and their gaudy stuff is elitist.


mcmansion hell is cool and good

Thesaurus posted:

Mcmansions suck. I just cant stand the attitude.

I guarantee you that architecture snobs are also engaged in extreme levels of BWM buying and building their classic and snob-approved homes.

It's just the timeless story of old money turning up its nose at new money.

Krispy Wafer posted:

Yes, the blog makes fun of style, which can be subjective, but most of these homes are also shoddily built. So it’s poking fun at both mismatched windows and structural issues that shouldn’t be occurring in a 10 year old million dollar home.

At least Groverhaus saved money doing lovely construction himself. Also if I’m remembering correctly he had insulation in the oddest of places. Like who insulates an interior staircase? Someone who appreciates the finer things in life like warm feet on a chilly winter day.

Submarine Sandpaper posted:

article negates this

MomJeans420 posted:

I don't think so, unless I'm missing something the only thing I saw was they paid $20 million to settle a class action. I was saying their legal fees for a massive class action would likely be higher than $19 million, at least in my experience with them.

Krispy Wafer posted:

Like who insulates an interior staircase?

Krispy Wafer posted:

Yes, the blog makes fun of style, which can be subjective, but most of these homes are also shoddily built. So it’s poking fun at both mismatched windows and structural issues that shouldn’t be occurring in a 10 year old million dollar home.

At least Groverhaus saved money doing lovely construction himself. Also if I’m remembering correctly he had insulation in the oddest of places. Like who insulates an interior staircase? Someone who appreciates the finer things in life like warm feet on a chilly winter day.

quote:

Hi, I am writing this on behalf of my friend (50+ years old, successful business owner) because he doesn't use Reddit/Twitter or know where else to go with this horrific incident that happened to him . His ticket/issue number is: 1456972. His ticket is still "open", but Binance has not responded back to him in over 24 hours.

My friend has been accumulating crypto in smaller transaction amounts over the past couple months. I am speculating that these amounts (he didn't tell me) were in the low thousands of dollars. He has been doing these purchases through Paxos stablecoins.

The business that he has worked on and grown over the past 25+ years was recently acquired by another company. Because he is very optimistic about the future of DLT, he wanted to invest a much more significant amount of money into crypto across several projects from his recent company sale.

My friend purchased $500,000 worth of Paxos stablecoins on their exchange and transferred them to Binance, which arrived on Monday the 6th. Keep in mind, that my friend doesn't know how order-books work, doesn't know to look at 24 hour transaction volume for a particular pairing, doesn't know the strategically optimal way to acquire a coin at the lowest possible acquisition cost, etc. Most people have never dealt with a live orderbook in their lives, and are mostly passive investors through 401Ks, Roth IRAs, index funds, and other investment vehicles that don't have the added complexity of doing transactions directly on an exchange. I had spoken to him several months ago about looking into OTC brokerages for larger transactions, but it didn't occur to him at the time. He also wasn't aware that he would have been much, much better off trading the Paxos for Bitcoin on Binance, and then buying his other cryptos using Bitcoin, which have a much more stocked orderbook and higher transaction volume.

To make a long story short, due to my friend not knowing what he doesn't know, he pressed "market buy" with $500,000 worth of Paxos stablecoins on the Paxos/Chainlink orderbook that normally only sees $10,000 worth of transactions in a 24 hour period. In the past, when he was doing his smaller orders of a few thousand dollars, he probably didn't understand that the amount of sellers needed to fulfill the orders was much lower, in order to learn to pay close attention to how stocked an orderbook is. Needless to say, this was a very poor decision, and he cleaned out the entire orderbook with the price of that button and he spiked the price of Chainlink, which has a market price of about .58 all the way to $9,999. Yes, you read that correctly. He cleaned out the entire orderbook from 58 cents all the way up to $2.50. The next price jump after $2.50? $9,999. He bought 40 Chainlnk tokens, which at the time had a market price of 58 cents, at the price of $9,999 each. $400,000 for 40 tokens, which should have cost about $23.

Here are the screenshots:

https://ibb.co/mRcp4RS

https://ibb.co/Bcq637T

https://ibb.co/7Gw0ntQ

My understanding from threads and discussions I have seen on Twitter and Reddit is that Binance does NOT allow you to place sell orders at higher than 1000%/10X of the current market price, which should have capped it at somewhere between $5.80 and $6.00. This transaction went through at OVER 17,000 TIMES the current market price. How did this happen? The discussions I have seen suggest that some bug on Binance allowed the seller to set such high market prices. What could be any alternate explanation? How could it be rationally justified to allow someone to sell tokens at over 17,000 times the current market price?

I understand that what my friend did was ill-advised. I understand that this is far from an optimal way to accumulate a token at the lowest acquisition cost possible. I understand that is is probably the worst way he could have gone about this process. With that said, there should be NO reputable exchange that allows someone to essentially be scammed out of $400,000 through any series of buttons clicked on their exchange. My friend should have simply gotten REALLY bad deals between 58 cents up to $5.80. He should NOT have been outright fleeced out of $400,000 for $23 worth of tokens.

He has an open ticket with Binance, but they haven't responded in the last 24 hours. Our cryptocurrency space is trying to gain legitimacy and attract new investors into it. As long as the design of our systems can produce outcomes such as this one, we don't deserve to have the space grow and mature. Stories and circumstances like this should not be allowed to happen to people.

I am kindly asking the community to ping CZ and Binance Support to please look into this and make things right for my friend. He is absolutely gut-punched and devastated from what has taken place. Thank you.

Fitzy Fitz posted:

Kate is cool I will defend her.

Krispy Wafer posted:

The fact the fancy Greek columns in all these McMansions are just plaster and stucco was a surprise for me.

BigDave posted:

Whoever inspected and approved that must have been utterly mad!

Lockback posted:

My friend lost $400,000 paying over 17,000 times the market price of a token by pressing "Market Buy" on Binance
https://www.reddit.com/r/CryptoCurrency/comments/bmm75m/my_friend_lost_400000_paying_over_17000_times_the/

quote:

Found out my father loaned out my entire college savings. (self.personalfinance)

submitted 12 hours ago * by Anonymous14531815

Some background information: I am a high school senior, 17, currently unemployed. My father was left alone after my mother's passing to care for me and my brother (21). He began working two years ago after a hiatus he took after my mother passed. Thankfully, her life insurance has provided for us and kept us from concerning ourselves too much with finances. As of now he is making little pay that is not enough to sustain even a harsh budget between us two. Moreover, my brother is currently in his third year of college, and, as of now, his tuition is paid for by our father.

This morning he came into my room and began to explain the predicament he had gotten into. Previous to this I had no idea that there was any immediate financial problems. He described how he had loaned virtually all of our savings to an individual, having assumed she would pay back with interest. Of this, I am very skeptical at best. He assures me as soon as her banking situation is figured out she will wire him the money owed. Whether this occurs is, however, is not my immediate concern. I have already begun operating under the assumption that the money is either lost, or will be locked up in some legal jargon that will prevent it from being accessed for several years.

This last year I had accepted admissions to a relatively prestigious college. And with it I accepted the hefty price tag. At the time of choosing I believed that at least two years of my college would be payed for in full, and the rest I would take out in student loans. I was comfortable with this plan, but with the revelation that the money that would be used for my college is essentially gone, I am no longer so comfortable with spending four years at the university. I am not even sure I will be able to pay my first semester's tuition.

I have begun the process of getting student loans to pay for my tuition, however, I may have to differ for at least a semester. I have already made my final decision and made the deposit. I have not yet had a chance to discuss this matter with my brother nor have I discussed with any extended family. This summer I have a job that will pay for room and board and put a few thousand in my pocket. But I want to know what other steps I will have to take to lessen the financial strain that may be passed on to me.

Edit: The college I'm enrolling in cost around 50,000 a year, including room and board. As for a major, I'll be attending the liberal arts college, I am undecided on the degree, but I have also considered switching to biology and pursuing medicine and have looked at engineering degrees as well.

how do I finance a car while I am hiding my current one from being repossessed posted:

When I was 18 (I’m 22 now) and went to buy a car, I found out there was credit fraud under my name which gave me terrible credit and made me unable to buy a car. I had a friend who had connections to a dealership, so I was able to get an ok/used car however the catch of course was an insanely high interest rate.

Due to a death in the family, I fell behind on my car payments (I’m currently 5 months behind) and I’m debating what to do with my car (I have it hidden).

I got a very good new job and am now located in a different city from where my car is. I really need a car here to get around, so I’m trying to weigh my options and determine whether I should find a way to pay off my currently car (there’s about $5000 left on it) or somehow get rid of it and get a new car.

My credit has obviously declined due to me falling so far behind on payments; I feel stuck and not sure what to do. I can afford to put about $3000 down on a new car which I think at this point would be a better option even if the payments/interest is a bit high.

Any tips or suggestions would be very much appreciated. I don’t really have any family I can talk to that can offer help.

Lockback posted:

My friend lost $400,000 paying over 17,000 times the market price of a token by pressing "Market Buy" on Binance
https://www.reddit.com/r/CryptoCurrency/comments/bmm75m/my_friend_lost_400000_paying_over_17000_times_the/

quote:

Am I the bad guy? Parents house foreclosed and I won’t help them. (self.personalfinance)

submitted 27 minutes ago by OrganicBurn

I was recently informed that my parents house is in pre-foreclosure and that they owe about 20k+ in back payments to the bank. Three years ago they were going through the same situation and I was forced to lend them money to help them. They wound up filing chapter 13 bankruptcy and were able to arrange it so they could keep there house.

I was asked from my mother if I could help them resolve this. When I exclaimed to her that I did not have the financial means at the present time she recommended that I sell my weekend sports car to help them. The car, a 2016 would net around 30k on private sale. It is paid off.

I refused to do that and it has cause a lot of fights between myself and my siblings. They feel that I’m being selfish and spiteful. But the thing is that if the circumstances were different I would help them.

First and foremost, if I were to sell the car, it would be because of my own financial problems. While I do make great money and get by things Have gotten a little tight recently because of a failed business venture. Selling the car would allow me to clear all of the debts and ease some of the financial burden. But I’m not there yet and able to manage. If my situation gets worse, I’d sell it in a heartbeat. It’s kinds of like a contingent emergency plan.

Second of all I’ve helped them a lot in the past five years and it’s come back to haunt me. Just a few years ago we went through the same thing. I do not want to put a bandaid on something that requires surgery.

They owe over 200k on a house that was purchased over 25 years ago and has over 30k of damage because they have still failed to fix the roof after it has leaked for the last 5-6 years. Homes in the area sell for about 250-350 depending on the condition.

Less than two years ago I helped my mom get a car. Instead of co-signing I opted to lend her 5k as a down payment. In hindsight, I wish I did neither but at the time I was compelled to co-sign and I’m glad I didn’t. That vehicle just got repoed a few months ago and at time of the repo she owed around 4K in past due payments. Meaning she hasn’t paid it in a long time. They were not able to get it back.

My mom stopped working last year so most of the financial responsibility is left to my dad. She refuses to get a job because she wants to “relax.” My dad makes about 70k a year which should be fine to manage them in my eyes having nothing more than a mortgage, living expenses, car payment, and monthly payment to the court.

Here’s the kicker. My mother has 2 horses and has for the last couple years. She claims that board, feed, and vet bills only cost her around 300 a month which I find extremely understated. Boarding costs in my area range from 400-900 a horse and feed costs about 200 a horse based on my research. Before vet bills and other related expenses, I estimate her to be paying about 1200-1500 a month.

To me the situation is simple. Sell the horses. I’ve talked to her about it but she refuses. She claims their her outlet and they “relax” her. Because of the breed, she could get 3-6k per horse. Why should I have to sell my stuff to help her when she won’t help herself?

My mother, and two of my siblings think that I’m being selfish and trying to make me feel bad about not helping them save our child hood home.

Am I the bad guy?

— Apologize for any typos as I’m on mobile.

tater_salad posted:

DaveSauce posted:

https://www.reddit.com/r/personalfinance/comments/bmxpqi/am_i_the_bad_guy_parents_house_foreclosed_and_i/


HORSES STRIKE AGAIN

tater_salad posted:

Car post

spwrozek posted:

So you have $3k and owe $5k. Instead of walking into the lender and giving them $3k and getting back on payments you want to get a new car and somehow steal/hide the old car. This is just mind boggling.

UCS Hellmaker posted:

We have a thread on the Uber ipo anywhere? That things gonna be a Trainwreck as the wheels come off.

Sundae posted:

The BWM is coming from inside the forum! D&D as usual.


Good on having an exit strategy, but bad with investment. The only way your 401k went up in smoke twice through both bubbles is if you either picked individual stocks that all went bankrupt or you sold the loving thing in the plunge. The S&P500 and DJIA are both up ~200% since the dot-com era.


No point saving when Santa the Glorious Revolution will save us all. And if it doesn't, Mad Max was totally a documentary so what good are savings anyway?


Another solid exit strategy, though I think if he hurries and trains his pets to dance and do cool tricks, he could make some sweet Youtube bucks before he finally resorts to eating Fido. (Apologies to this guy if he literally has been stuck in a low-paying job his entire life; that seriously would suck.)

ChickenOfTomorrow posted:

I put money in my 401k so I can cash it out and buy a guillotine when the revolution starts

ChickenOfTomorrow posted:

I put money in my 401k so I can cash it out and buy a guillotine when the revolution starts