|
Hello Sailor posted:they sold in the middle of a buying frenzy, idiot Lmao was going to post that yesterday. It seems like the first one caused people to cash in or transfer their wallets en-masse and suprise suprise the "exchanges" simply don't have the normie cash or legit (lol) to pay out people. The teeth gnashing from the true believers "this is not the fault of crypto  " is just supernova critical and more exchanges are expected to follow.
Galewolf fucked around with this message at 14:47 on Apr 24, 2021 |
#
?
Apr 24, 2021 14:41
|
|
|
|
| # ? May 30, 2024 05:43 |
|
|
Also, congrats to the brother cashed out with a very tangible gain in expense of rubes.
|
|
#
?
Apr 24, 2021 14:43
|
|
|
Galewolf posted:Also, congrats to the brother cashed out with a very tangible gain in expense of rubes. What makes them different to the other rubes?
|
|
#
?
Apr 24, 2021 14:47
|
|
|
It's Canadian dollars, people. Come on.
|
|
#
?
Apr 24, 2021 14:50
|
|
|
xtal posted:What makes them different to the other rubes? Not much except a fully paid house.
|
|
#
?
Apr 24, 2021 14:54
|
|
|
As an actual tax accountant (should get my CPA in about two years  ), I'm really wondering how many people entities such as the CRA or the IRS will nail for forgetting that capital gain rules apply even if you don't receive cash for something.I still chuckle now that I see that cryptocurrency checkbox on the 1040.
|
|
#
?
Apr 24, 2021 14:55
|
|
|
Paladinus posted:It's Canadian dollars, people. Come on. The screencap shows USD, not funny money?
|
|
#
?
Apr 24, 2021 14:55
|
|
|
buttcoin
|
|
#
?
Apr 24, 2021 17:28
|
|
|
More like...shitcoin,amirite? 
|
|
#
?
Apr 24, 2021 17:39
|
|
|
blakangel posted:Looks like I sold a few coins at the right price. Paying off my mortgage Monday You’re an idiot for touching the poop, but proud of you for getting out and profiting.
|
|
#
?
Apr 24, 2021 17:42
|
|
|
Hammerite posted:"everyone using the forums lives in the United States of America" - American forums users I (apparently wrongly) assumed that almost everywhere else goons live had actual predatory lending laws that existed long before the US finally implemented some of the most basic reforms possible as a half measure after the 2008 global economic crisis. E: Also the poster who was paying off their mortgage was cashing out in USD. corgski fucked around with this message at 18:01 on Apr 24, 2021 |
|
#
?
Apr 24, 2021 17:56
|
|
|
drat it, me and my bf's 3060TI + 1080 have gone from about 15-16 USD per day down to 11 USD oh well hopefully bitcoin crashes so i can actually get a new GPU for a reasonable price and finally play cp2077
|
|
#
?
Apr 24, 2021 18:17
|
|
|
AEMINAL posted:drat it, me and my bf's 3060TI + 1080 have gone from about 15-16 USD per day down to 11 USD
|
|
#
?
Apr 24, 2021 18:20
|
|
|
Another "exchange" is reported to make a runner in Turkey. Current count is two confirmed, one "possible" and another one being under maintenance for two months.
|
|
#
?
Apr 24, 2021 18:47
|
|
|
It’s pretty interesting that despite all the arguments David gets in with coin fanatics on twitter they haven’t review bombed his book. Last year I got into an argument with a bitcoin guy and they found out where I worked and called up my boss to ask them to fire me for being a shill for the Illuminati. You’d think with these kinds of unhinged people in the space they’d see writing bad reviews as easy revenge, but I guess it’s too much effort.
|
|
#
?
Apr 24, 2021 18:54
|
|
|
Galewolf posted:The screencap shows USD, not funny money? Looking at the chart for the last year, the USD has been losing value pretty significantly compared to the CAD. Seems like USD is the funny money.
|
|
#
?
Apr 24, 2021 18:57
|
|
|
nvm
Fame Douglas fucked around with this message at 19:28 on Apr 24, 2021 |
|
#
?
Apr 24, 2021 18:58
|
|
|
corgski posted:I (apparently wrongly) assumed that almost everywhere else goons live had actual predatory lending laws that existed long before the US finally implemented some of the most basic reforms possible as a half measure after the 2008 global economic crisis. I don't particularly see imposing limits on early repayment as "predatory lending", could you clarify as to why you see it as such? as to the currency - knowing nothing about this platform I don't feel I could conclude anything in particular from seeing a balance denominated in USD. USD is the global reserve currency, for all I know they denominate all customer accounts in USD, or it's much simpler to transact on that exchange in USD than other currencies, or w/e.
|
|
#
?
Apr 24, 2021 19:29
|
|
|
I didn't know turkey is/was apparently a relatively large crypto hub, wtf is going on 
|
|
#
?
Apr 24, 2021 19:31
|
|
|
Hammerite posted:I don't particularly see imposing limits on early repayment as "predatory lending", could you clarify as to why you see it as such? Because it’s a textbook usurious practice? All early repayment does is reduce the potential profit for the lender. When even loving Texas has banned it, there’s not much to be said in its favor.
|
|
#
?
Apr 24, 2021 19:48
|
|
|
It would never have occurred to me that anyone might have such strong views on early repayment charges.
|
|
#
?
Apr 24, 2021 20:00
|
|
|
corgski posted:I (apparently wrongly) assumed that almost everywhere else goons live had actual predatory lending laws that existed long before the US finally implemented some of the most basic reforms possible as a half measure after the 2008 global economic crisis. I am in the US and I received the mortgage payoff calculations in the mail a couple days ago. The bank was going to charge me $35 to email or fax the payoff calculation in a shorter time frame, but I opted for the free 5 business day US mail option. There was no prepayment penalty. My problem now is Chase won't let me send a wire transfer over $100,000 so I have to go to the branch Monday and either do the wire there or get a cashier's check.
|
|
#
?
Apr 24, 2021 20:05
|
|
|
Congrats on getting out while the getting's good!
|
|
#
?
Apr 24, 2021 20:08
|
|
|
EorayMel posted:I didn't know turkey is/was apparently a relatively large crypto hub, wtf is going on lira is going to be a substitute for toilet paper
|
|
#
?
Apr 24, 2021 20:12
|
|
|
Ccs posted:It’s pretty interesting that despite all the arguments David gets in with coin fanatics on twitter they haven’t review bombed his book. Last year I got into an argument with a bitcoin guy and they found out where I worked and called up my boss to ask them to fire me for being a shill for the Illuminati. You’d think with these kinds of unhinged people in the space they’d see writing bad reviews as easy revenge, but I guess it’s too much effort. EorayMel posted:I didn't know turkey is/was apparently a relatively large crypto hub, wtf is going on corgski posted:Because it’s a textbook usurious practice? All early repayment does is reduce the potential profit for the lender. When even loving Texas has banned it, there’s not much to be said in its favor. Shumagorath fucked around with this message at 20:19 on Apr 24, 2021 |
|
#
?
Apr 24, 2021 20:15
|
|
|
https://twitter.com/rhinosoros/status/1385579358392291330 Actual location *starcraft narrator* Nuclear launch detected.
|
|
#
?
Apr 24, 2021 20:25
|
|
|
corgski posted:Because it’s a textbook usurious practice? All early repayment does is reduce the potential profit for the lender. When even loving Texas has banned it, there’s not much to be said in its favor. Well, one thing about Texas most people don't realize/remember is that from Reconstruction into the mid-90s, the Democrats completely ran the legislature. Texas was one of the last Southern states have its dominant internal party switch from the Democrats to the Republicans. Now granted, a lot of these Texas Democrats were good ol' boy Dixiecrat types, and every viable politician from any party in the state was 1000% committed to the Texas Trinity (Bible Thumpers, Oil Men, and Gun Nuts). But if you went outside of that, there was room for some progressive policy positions. Part of that was some pretty strict banking regulations. Texas didn't allow banks to have branches until the 80s, there was a ban on any form of home equity lending until 1997, there was the previously-stated ban on any prepayment penalty, and there was a much stricter documentation requirements for loans in the first place. That last bit really saved Texas during the financial crisis. There weren't nearly as many of the terrible subprime loans, and property values didn't drop here anywhere near as much as they dropped in the rest of the country. Hell, in cities like Austin property values didn't even dip during the crisis. There were still job losses and economic pain, but in Texas you didn't have the phenomenon of people underwater on their home mortgage. Anyways, that's a massive derail, so back to the point... buttcoin
|
|
#
?
Apr 24, 2021 20:31
|
|
|
EorayMel posted:I didn't know turkey is/was apparently a relatively large crypto hub, wtf is going on I'll try to be brief but it's basically a perfect storm of hyper-fast inflation, political instability and pure greed. So, Turkish moonbucks started to tank after friction between the US and Turkey over some political and strategic issues which were catalyzed by a tweet from Orangeman (and a "leaked" letter from him to Erdogan, ending with "Don't be a tough guy, don't be a fool!"). For reference, the exchange rate in Apr 2018 was 4 TRY = 1 USD, currently it's around 8.7 TRY = 1 USD. This caused the traditional investments instantly go full on red for everyone including the stock exchange so everyone started buying dollars which simply fueled the fire. The government then imposed taxes on purchase of foreign currencies as well as rumors of confiscating people's USD/EURO holdings which made people panic even more. Around these times, shitcoins became an alternative investment because a-) it was untaxed (tax system in Turkey is highly incompetent/corrupt that they simply don't check sudden surges of money due to inefficient bureaucracy), b-) the returns were so high that it legit protected your money against inflation rate of 20% (probably more due to living costs also skyrocketing due to USD) and c-) people simply heard other people making shitloads of money and confirmation bias kicked in. The problem was/is that Turkey clamped down on non-bank transactions such as banning Paypal so these "exchanges" started popping up. They usually offer ponzi-like deals such as if you enrolled more people they'd give you more shitcoins. The ability to invest in fractions and idea of tax free super gains of course attracted both desperate and greedy people. Currently there are 33 coin exchanges in Turkey that are not Binance and they are absolutely not ready for the massive spikes in gains so they are all in the poo poo due to people suddenly making 400% on Dogecoins. The news of government banning shitboins to be used in transactions also caused a massive withdrawal since people cannot buy poo poo instead of getting taxed. I want to feel sad about my fellow countryman trapped in a financial and social SAW movie but also maybe not buy 2 billion USD fake internet coins from a highschool dropout guy looks like he should be serving shisha in Blue Mosque cafes: 
Galewolf fucked around with this message at 20:36 on Apr 24, 2021 |
|
#
?
Apr 24, 2021 20:34
|
|
|
Galewolf posted:I'll try to be brief but it's basically a perfect storm of hyper-fast inflation, political instability and pure greed. So, Turkish moonbucks started to tank after friction between the US and Turkey over some political and strategic issues which were catalyzed by a tweet from Orangeman (and a "leaked" letter from him to Erdogan, ending with "Don't be a tough guy, don't be a fool!"). For reference, the exchange rate in Apr 2018 was 4 TRY = 1 USD, currently it's around 8.7 TRY = 1 USD. Thanks for the explanations. Also that guy reminds me of this: https://www.youtube.com/watch?v=e_o2Ny735Yo
|
|
#
?
Apr 24, 2021 20:38
|
|
|
EorayMel posted:Thanks for the explanations. Also that guy reminds me of this: I honestly cannot tell if that's a satire or real, like at all.
|
|
#
?
Apr 24, 2021 20:48
|
|
|
Also, no scam is complete without sexy instagram influencers wearing provocative dresses in front of luxury cars.
|
|
#
?
Apr 24, 2021 20:49
|
|
|
mojo1701a posted:As an actual tax accountant (should get my CPA in about two years Canonical example: https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
|
|
#
?
Apr 24, 2021 21:12
|
|
|
Ccs posted:It’s pretty interesting that despite all the arguments David gets in with coin fanatics on twitter they haven’t review bombed his book. Last year I got into an argument with a bitcoin guy and they found out where I worked and called up my boss to ask them to fire me for being a shill for the Illuminati. You’d think with these kinds of unhinged people in the space they’d see writing bad reviews as easy revenge, but I guess it’s too much effort. they tried a bit, but "verified purchaser" confused them Galewolf posted:I honestly cannot tell if that's a satire or real, like at all. it's a guy who will record video bits for you for a few $. someone thought that quality of announcer was good value.
|
|
#
?
Apr 24, 2021 21:34
|
|
|
Collateral Damage posted:https://twitter.com/rhinosoros/status/1385579358392291330 What is great about this is that they just went close to a wind farm, but they aren’t actually buying from the utility that is generating the wind power and they are actually in a location where they are likely paying nearly twice what they could be paying to the REC just a half mile to the south.
|
|
#
?
Apr 24, 2021 21:43
|
|
|
But they might not be able to see the turbines from there. Lol
|
|
#
?
Apr 24, 2021 21:44
|
|
|
electricty!
|
|
#
?
Apr 24, 2021 22:14
|
|
|
LanceHunter posted:Well, one thing about Texas most people don't realize/remember is that from Reconstruction into the mid-90s, the Democrats completely ran the legislature. Texas was one of the last Southern states have its dominant internal party switch from the Democrats to the Republicans. Now granted, a lot of these Texas Democrats were good ol' boy Dixiecrat types, and every viable politician from any party in the state was 1000% committed to the Texas Trinity (Bible Thumpers, Oil Men, and Gun Nuts). But if you went outside of that, there was room for some progressive policy positions. Part of that was some pretty strict banking regulations. Texas didn't allow banks to have branches until the 80s, there was a ban on any form of home equity lending until 1997, there was the previously-stated ban on any prepayment penalty, and there was a much stricter documentation requirements for loans in the first place. This totally validates some of my experience working in the mortgage industry circa 2010 - I almost never heard from Texas. Arizona, Nevada, Florida - totally underwater. Lots of problem mortages in other parts of the country, but I don't remember Texas coming up much or at all. And to add to some of the fun financial stuff around mortgages, a good chunk of US mortgages rely on the LIBOR to set rates, which is from London, England. https://en.wikipedia.org/wiki/Libor
|
|
#
?
Apr 24, 2021 22:50
|
|
|
Gobbeldygook posted:This was a major problem in the 2017 crash. Lots of people treated their crypto gains as play money, none of it was "real" until you cashed out into USD. In the runup to 20k in December they frequently did direct swaps between poo poo coins to chase returns, not realizing this meant they had realized their gains. Then the market crashed in January and now some people unexpectedly owed the IRS hundreds of thousands of dollars that they no longer had. Ohhhh that's the stuff. Thanks! Fun fact that is only tangentially related to this: I assume the IRS has a similar rule, but the Canada Revenue Agency has a rule about superficial losses. That is, if you sell a security to realize a loss, and rebuy it or a similar security within about 30 days or so, they will nail you and say, "Nope, doesn't count."
|
|
#
?
Apr 24, 2021 23:14
|
|
|
mojo1701a posted:
|
|
#
?
Apr 24, 2021 23:28
|
|
|
|
| # ? May 30, 2024 05:43 |
|
|
mojo1701a posted:Ohhhh that's the stuff. Thanks! You can tell tax laws are dumb as gently caress because they keep requiring bandages like this be applied
|
|
#
?
Apr 24, 2021 23:29
|
|