Based Wage Making: Money Sitting as a Service

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Based Wage Making: Money Sitting as a Service

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brugroffil: Nov 30, 2015

tfw you believe you can't steal from your own company

Alan Smithee posted:

what's the Brad reference

crypto CEO, quotes in this post:

Leon Trotsky 2012 posted:

About 75% of the XRP people across different forums and websites I've been checking have been cheering on the CEO and begging him to steal their money because if he steals it, then there is a theoretical chance they can exit the scam by scamming someone else, but if he gets shut down by the SEC, then they are only getting their money back at best and realistically are probably only getting a small portion back.

Guys, he would never steal $1.3 billion (even though he definitely didn't already steal $600 million) because he would have to abandon his lease! Open your eyes sheeple!

brugroffil fucked around with this message at 14:37 on Jun 29, 2022

# ? Jun 29, 2022 14:35

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# ? Jun 8, 2024 19:15

Velius: Feb 27, 2001

brugroffil posted:

tfw you believe you can't steal from your own company

crypto CEO, quotes in this post:

I got strong Arrested Development vibes from that line, too.

Can anyone elaborate on why you�d pay $8.68 to move $10 of coins to a hardware wallet (isn�t that just putting it onto a usb stick or whatever)? Are the transaction fees somehow that high, or is this something where the various people trying to scam crypto bros with high APRs just have gigantic penalty clauses for withdrawing?

# ? Jun 29, 2022 14:40

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Velius posted:

I got strong Arrested Development vibes from that line, too.

Can anyone elaborate on why you�d pay $8.68 to move $10 of coins to a hardware wallet (isn�t that just putting it onto a usb stick or whatever)? Are the transaction fees somehow that high, or is this something where the various people trying to scam crypto bros with high APRs just have gigantic penalty clauses for withdrawing?

It's basically the "We don't accept credit cards for purchases under $5" sign on cash registers X1,000.

The fees for selling the specific crypto float, the fees from the exchange float, and both of them charge a flat dollar amount + % of sale.

So, if you charge 10% + $7.50, then it costs $8.50 to remove $10.

But, it will "only" cost $107.50 to remove $1,000.

# ? Jun 29, 2022 14:43

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

what does this even mean?

"they had their money tied up in research"

# ? Jun 29, 2022 14:43

Velius: Feb 27, 2001

Leon Trotsky 2012 posted:

It's basically the "We don't accept credit cards for purchases under $5" sign on cash registers X1,000.

The fees for selling the specific crypto float, the fees from the exchange float, and both of them charge a flat dollar amount + % of sale.

So, if you charge 10% + $7.50, then it costs $8.50 to remove $10.

But, it will "only" cost $107.50 to remove $1,000.

Do crypto �exchanges� really charge 10% loving transaction fees for any withdrawal? That�s kind of amazing. I though the scammy 3% fee funds that Raymond James and the like pushed were bad enough! I guess that helps reduce bank runs and feeds the 30% yield from �research�.

# ? Jun 29, 2022 14:46

greazeball: Feb 4, 2003

KYOON GRIFFEY JR posted:

what does this even mean?

"they had their money tied up in research"

they put everybody's money in a big pile and are thinking about what they're gonna do with it

# ? Jun 29, 2022 14:48

an iksar marauder: May 6, 2022; An iksar marauder glowers at you dubiously -- looks like quite a gamble.

KYOON GRIFFEY JR posted:

what does this even mean?

"they had their money tied up in research"

It�s some guy trying to convince himself that it�s okay and normal for exchanges to become insolvent all the time

# ? Jun 29, 2022 14:48

Alan Smithee: Jan 4, 2005; A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

brugroffil posted:

tfw you believe you can't steal from your own company

crypto CEO, quotes in this post:

oh right the ripple guy lmao

# ? Jun 29, 2022 14:52

Alan Smithee: Jan 4, 2005; A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

https://twitter.com/FungersTakingLs/status/1541822894682030081?s=20&t=IfeXOVSlx9-atcIQdjUFzQ

# ? Jun 29, 2022 15:25

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Tyro posted:

I was just looking for that denial report a few days ago to show to a friend, they've redesigned the site and I couldn't find it.

I found the original link and it�s 404ed but here�s the relevant part:

quote:

Within the next few months, Applicant purchased a firearm, a pistol, and took the required safety course, which included firing the weapon. He never purchased ammunition for the firearm and never fired it again. He told his spouse he bought the firearm because he knew doing so would upset her. Buying the firearm was part of a revenge fantasy of taking action against his spouse�s paramour that preoccupied Applicant for the next couple of years. In addition to buying the firearm, it included grave digging (two graves located in the woods), buying a cutting tool, and buying a canvas to wrap the body.

Applicant�s digging took place, weather permitting, during the months of about May�September on Saturdays when his spouse was at work. His spouse was aware of his digging activity in general because he bought a collapsible shovel for the task and he would put his dirt-covered clothing in the laundry. Applicant was careful in selecting a site in the woods where he thought his grave-digging activity would not be detected. Likewise, he brought along a book about fossils in the local region to use as a cover story in case he had to explain his digging.

Toward the end of the first summer in 2002, he had the impression that someone had discovered the hole, and so he found a new location in the same woods and began digging a second grave. His digging followed the same pattern in 2003 and 2004, when it ended. Applicant never confronted the paramour directly and spoke to him but once in 2002 on the telephone. Likewise, Applicant never went to the paramour�s home or place of work with the firearm or any other weapon. Applicant also sold the firearm and resumed counseling, which he has continued on a fairly regular basis until present.3 In addition, Applicant confessed his thoughts and actions to a priest in about 2003 or 2004.

His clearance got approved on appeal, I think he had gotten help he needed and was in a better state.

Yeah that site used to be a goldmine for BWM but now it�s just a long list of PDFs that aren�t categorized. I tried reading a few looking for someone setting up a mining operation on Pentagon computers or something and clicking randomly is mostly alimony issues, pot usage, or alcoholism issues.

# ? Jun 29, 2022 15:59

SettingSun: Aug 10, 2013

Alan Smithee posted:

https://twitter.com/FungersTakingLs/status/1541822894682030081?s=20&t=IfeXOVSlx9-atcIQdjUFzQ

Sure thing mom let me just call up the guys running the money printer and we'll fix this right up.

# ? Jun 29, 2022 17:05

CharlestheHammer: Jun 26, 2011; YOU SAY MY POSTS ARE THE RAVINGS OF THE DUMBEST PERSON ON GOD'S GREEN EARTH BUT YOU YOURSELF ARE READING THEM. CURIOUS!

SettingSun posted:

Sure thing mom let me just call up the guys running the money printer and we'll fix this right up.

The money printer ain�t what it used to be

# ? Jun 29, 2022 17:30

Bird in a Blender: Nov 17, 2005; It's amazing what they can do with computers these days.

That mom and kid deserve each other.

# ? Jun 29, 2022 17:43

LanceHunter: Nov 12, 2016; Beautiful People Club

Hyrax Attack! posted:

I found the original link and it�s 404ed but here�s the relevant part:

His clearance got approved on appeal, I think he had gotten help he needed and was in a better state.

Yeah that site used to be a goldmine for BWM but now it�s just a long list of PDFs that aren�t categorized. I tried reading a few looking for someone setting up a mining operation on Pentagon computers or something and clicking randomly is mostly alimony issues, pot usage, or alcoholism issues.

I was once used as a former coworker's reference for their security clearance. There were a few times at house parties and after work when some folks in our office were smoking some weed (which was legal in DC). This guy was very insistent that he never smoke it, because "I might want to get a security clearance one day."

During the interview, I considered telling the investigator that anecdote, to show that the guy was very intentionally on the straight-and-narrow. Then I was worried that if I told the guy, it might look bad for him because of the folks he was hanging around (even though we only hung out because we knew each other from work). So I ended up just keeping my trap shut. The guy got his clearance, and is apparently doing very well pulling in figgies as a DBA for some military contractor.

# ? Jun 29, 2022 17:47

Tyro: Nov 10, 2009

LanceHunter posted:

I was once used as a former coworker's reference for their security clearance. There were a few times at house parties and after work when some folks in our office were smoking some weed (which was legal in DC). This guy was very insistent that he never smoke it, because "I might want to get a security clearance one day."

During the interview, I considered telling the investigator that anecdote, to show that the guy was very intentionally on the straight-and-narrow. Then I was worried that if I told the guy, it might look bad for him because of the folks he was hanging around (even though we only hung out because we knew each other from work). So I ended up just keeping my trap shut. The guy got his clearance, and is apparently doing very well pulling in figgies as a DBA for some military contractor.

They would not have cared.

Hyrax Attack! posted:

I found the original link and it’s 404ed but here’s the relevant part:

His clearance got approved on appeal, I think he had gotten help he needed and was in a better state.

Thanks!

# ? Jun 29, 2022 17:53

Vice President: Jul 4, 2007; I'm number two around here.

/r/investing posted:

Is now a good time to invest in a restaurant?
I have an opportunity to invest in a restaurant. I think it's a bad idea and will very likely not invest but would like to discuss it if anyone here has experience in the food industry.

It's not a high end restaurant backed by a michelin starred/celebrity chef or anything, it's being opened by a group of 4 friends and will probably be in the $$ price range.

What I'm sensing though is that food prices are going through the roof. I think beef alone is up 30% this year and I see many restaurants struggling and closing right now as fewer people go out to eat due to real economic slowdown and perceived fears of further inflation and economic recession.

They seem to think that it's a good time to open a restaurant because renting a space is cheap... but it's cheap because of mass vacancies which can't be good for restaurants either, right? Also, I see "help wanted" signs at almost every single business I go to, and for the first time in my life I'm seeing signs at restaurants saying "apologies for the delay, we're understaffed"

What are people's thoughts on the current state of restaurants? I think $$$$ places are doing fine because rich people still have money to go out, but normal restaurants are suffering in my opinion.

Almost every reply is a solid "don't loving do this" including restaurant owners right now who break down some of their financials.

# ? Jun 29, 2022 23:05

B33rChiller: Aug 18, 2011

Vice President posted:

Almost every reply is a solid "don't loving do this" including restaurant owners right now who break down some of their financials.

Might as well open up a travel agency, while they're at it. If that doesn't work out, maybe video rentals?

# ? Jun 29, 2022 23:10

FMguru: Sep 10, 2003; peed on;
sexually

B33rChiller posted:

Might as well open up a travel agency, while they're at it. If that doesn't work out, maybe video rentals?

TV repair shop!

# ? Jun 29, 2022 23:18

Kenning: Jan 11, 2009; I really want to post goatse. Instead I only have these🍄.

I would sooner invest in a Broadway show than in a restaurant.

# ? Jun 29, 2022 23:22

Vice President: Jul 4, 2007; I'm number two around here.

For years I would drive past a typewriter repair store that never once looked open or had any indication other than the sign out front that it was an actual operating business, but it has glowing reviews on yelp to this day. In fact there are five of them I found in the area including one that appears to exist solely to service a nearby military base's typewriters.

# ? Jun 29, 2022 23:27

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Vice President posted:

For years I would drive past a typewriter repair store that never once looked open or had any indication other than the sign out front that it was an actual operating business, but it has glowing reviews on yelp to this day. In fact there are five of them I found in the area including one that appears to exist solely to service a nearby military base's typewriters.

There is a violin repair shop in the middle of a ton of restaurants downtown that has been open for at least 20 years. I have no idea how they are still in business in one of the most expensive buildings to rent in the area.

# ? Jun 29, 2022 23:29

Vice President: Jul 4, 2007; I'm number two around here.

even money on these obsolete/niche businesses being a rich person or their spouse's expensive hobby, or a money laundering front that's so boring they're under the radar.

# ? Jun 29, 2022 23:35

Jordan7hm: Feb 17, 2011; Lipstick Apathy

Or they own the building.

# ? Jun 29, 2022 23:39

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Jordan7hm posted:

Or they own the building.

I feel like, even if you owned the building, that the gross revenue from a violin repair shop in the middle of downtown wouldn't pay for the property tax.

# ? Jun 29, 2022 23:45

Anne Whateley: Feb 11, 2007; i like nice words

It depends. They might have contracts with a city orchestra and local schools. Or because violin repair is so specific, it might pull in all the business for 100+ miles.

# ? Jun 29, 2022 23:49

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

Anne Whateley posted:

It depends. They might have contracts with a city orchestra and local schools. Or because violin repair is so specific, it might pull in all the business for 100+ miles.

There is no city orchestra and the downtown is the only expensive section in an otherwise economically distressed and predominantly black school district that is constantly on the verge of shutting down multiple schools. Seems very unlikely that the school has so many violins that need constant servicing that they have a contract with this guy large enough to fund his entire business.

# ? Jun 29, 2022 23:52

Ham Equity: Apr 16, 2013; The first thing we do, let's kill all the cars.; Grimey Drawer

Leon Trotsky 2012 posted:

There is a violin repair shop in the middle of a ton of restaurants downtown that has been open for at least 20 years. I have no idea how they are still in business in one of the most expensive buildings to rent in the area.

There is a Steinway store in the first floor of a skyscraper in the middle of downtown Seattle that has been there for all of the fifteen years I've lived here.

# ? Jun 29, 2022 23:53

Aces High: Mar 26, 2010; Nah! A little chocolate will do

What city? If it's a big hub with a bunch orchestras in operation then they're probably "doing fine"

All it takes is Joshua Bell or André Rieu to get their violin repaired in your store and you're set for life

Edit: welp, guess it's not a great location

# ? Jun 30, 2022 00:03

Motronic: Nov 6, 2009

Ham Equity posted:

There is a Steinway store in the first floor of a skyscraper in the middle of downtown Seattle that has been there for all of the fifteen years I've lived here.

That's not really a surprise. Do you know what even a baby grand costs and how often it needs service?

We're talking sports car pricing and maintenance if you actually want to keep it enjoyably playable.

Also, don't forget some people use pianos as furniture/signaling.

# ? Jun 30, 2022 00:05

CongoJack: Nov 5, 2009; Ask Why, Asshole

Maybe they are a Pell grant recipient trying to operate a business in a disadvantaged community for a few years to get some loan forgiveness.

# ? Jun 30, 2022 00:10

Vice President: Jul 4, 2007; I'm number two around here.

An unprofitable ~~failing~~ business can be a tax shelter, although how vigorous the IRS is at catching people who try to pass off their money-losing hobby as a legitimate business I have no idea. Given how long some of these places have been around (20, 30+ years for the typewriter store in my example) even if you owned a single or multi tenant commercial property outright it doesn't seem like it adds up to lose money forever unless you legit don't care about the money or the minimal effort and low overhead costs of operating one of these niche businesses really does somehow translate through the magic of tax laws to benefit the rich that you end up saving a fortune on taxes.

Although one interesting example is liquor licensed establishments. Here (and other states I'm sure) to have a hard liquor on-premise liquor license you must serve "food." To meet the requirements all you need to do is have the capability of producing food (aka a permitted and theoretically operational kitchen), be open certain hours, and offer a menu of some defined number of unique prepared food items. Any place with a liquor license can also have video poker and slot machine terminals from the state lottery. So what you end up with are hole in the wall operations that are legally a bar that rarely serves drinks, technically a restaurant with the 4 or 5 items that are all the greatest hits from Sysco's "easy to microwave" catalog that nobody in a million years would ever order, and are filled with people just spending their kid's college fund on video poker all day. The cost to keep staff there pretending to operate a restaurant and bar is nothing compared to the gambling profits.

# ? Jun 30, 2022 00:50

Gaius Marius: Oct 9, 2012

Vice President posted:

Almost every reply is a solid "don't loving do this" including restaurant owners right now who break down some of their financials.

This is actually a great time to open a restaurant, when you consider the law of averages only so many business's can fail at once. Since all those other ones already have your chance at success skyrockets, and you can get cheaper rent from the closed down shops. It's like the lottery, the more you lose the better your chance of winning.

# ? Jun 30, 2022 00:58

LifeSunDeath: Jan 4, 2007; still gay rights and smoke weed every day

Vice President posted:

An unprofitable ~~failing~~ business can be a tax shelter, although how vigorous the IRS is at catching people who try to pass off their money-losing hobby as a legitimate business I have no idea. Given how long some of these places have been around (20, 30+ years for the typewriter store in my example) even if you owned a single or multi tenant commercial property outright it doesn't seem like it adds up to lose money forever unless you legit don't care about the money or the minimal effort and low overhead costs of operating one of these niche businesses really does somehow translate through the magic of tax laws to benefit the rich that you end up saving a fortune on taxes.

Although one interesting example is liquor licensed establishments. Here (and other states I'm sure) to have a hard liquor on-premise liquor license you must serve "food." To meet the requirements all you need to do is have the capability of producing food (aka a permitted and theoretically operational kitchen), be open certain hours, and offer a menu of some defined number of unique prepared food items. Any place with a liquor license can also have video poker and slot machine terminals from the state lottery. So what you end up with are hole in the wall operations that are legally a bar that rarely serves drinks, technically a restaurant with the 4 or 5 items that are all the greatest hits from Sysco's "easy to microwave" catalog that nobody in a million years would ever order, and are filled with people just spending their kid's college fund on video poker all day. The cost to keep staff there pretending to operate a restaurant and bar is nothing compared to the gambling profits.

I watched some vid the other day with Nardwar and he was explaining clubs like this, you got a "mystery meal ticket" at the door and no one would redeem them really it was a requirement to buy alcohol, but you could redeem them and it was like a microwave lasagna.

# ? Jun 30, 2022 01:01

B33rChiller: Aug 18, 2011

My man Nardwar, whose tip for when you're being taken away by security was: "I figured out they'll carry you. Just lift your legs, and you can crowd surf!"

# ? Jun 30, 2022 01:13

TraderStav: May 19, 2006; It feels like I was standing my entire life and I just sat down

https://www.reddit.com/r/onlinegamb...utm_name=iossmf

Rollbit Banned My Account with a $100K+ Portfolio

quote:

Rollbit is a Crypto Casino that offered nfts that I decided to invest in. Specifically, I invested heavily into Sportsbots, which offers free bets and idle profits through profit share from the sportsbook. One of these NFTs cost me 35K and offered a monthly free bet of 1K and revenue from the casino (as of my ban, this amount was over 400). I bought in heavily during a selling frenzy and was very pleased with the 36k annual return I was receiving from my portfolio.

I invested my life savings into this project with the promise of a safe and secure asset. I believe in the nft projects and have invested in v1, sportsbots, and rlb coin. Little did I know that investment would be gone due to an unjust ban for �Game Abuse.� I was not given any other information from countless times reaching out to support and was told that it was permanent.

I have a history of playing on this account for months, and the only reason I made another account was due to a lost device (lost 2fa). I have a long history of gaming on the site and losing money. The night before I was banned, I lost 2k playing blackjack. As a losing player, why am I being banned for game abuse when I have never won nor abused any games.

I have reached out countless times to support them and have been told they have nothing else to say. I invested my life savings into this account because I was promised an nft. It was delivered, and I am thrilled with rollbit as a site and its products. What I am unhappy with is the being banned without reason or investigation. Rollbit, please just think, why would I put over 100k into an account I supposedly knew I was abusing on? I have proof and receipts of me playing on the site legitimately and can explain all �abusive play.� Please just allow me to defend myself.

If you guys can help, please do. Upvote this post and let Rollbit staff know about my situation.

quote:

Yea that�s what I hate about any crypto site it�s near impossible to get in contact with anyone who will even explain to you in detail what�s going on. Good luck hope you get your account back

You don't say

TraderStav fucked around with this message at 01:28 on Jun 30, 2022

# ? Jun 30, 2022 01:26

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

Leon Trotsky 2012 posted:

There is no city orchestra and the downtown is the only expensive section in an otherwise economically distressed and predominantly black school district that is constantly on the verge of shutting down multiple schools. Seems very unlikely that the school has so many violins that need constant servicing that they have a contract with this guy large enough to fund his entire business.

you are mistaking stringed instrument repair for a proximity based business. i drove like 1.5 hours to gently caress nowhere MI to get my instrument worked on by a guy i trusted because people i know recommended him. there were probably 10 closer stringed instrument repair joints.

# ? Jun 30, 2022 01:28

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

So much to unpack in just the first sentence.

quote:

Rollbit is a Crypto Casino

lol

quote:

that offered nfts

lol lol

quote:

that I decided to invest in

lol lol lol

quote:

I invested my life savings into this project with the promise of a safe and secure asset.

# ? Jun 30, 2022 01:29

TraderStav: May 19, 2006; It feels like I was standing my entire life and I just sat down

KYOON GRIFFEY JR posted:

you are mistaking stringed instrument repair for a proximity based business. i drove like 1.5 hours to gently caress nowhere MI to get my instrument worked on by a guy i trusted because people i know recommended him. there were probably 10 closer stringed instrument repair joints.

Was this guy in Superior township? Crazy guy lives there is one of the best luthiers in Michigan. Has worked on so many famous musicians guitars.

I live in Ann Arbor so real thankful to have him in my backyard.

# ? Jun 30, 2022 01:30

Bird in a Blender: Nov 17, 2005; It's amazing what they can do with computers these days.

Leon Trotsky 2012 posted:

So much to unpack in just the first sentence.

lol

lol lol

lol lol lol

Constantly amazed at the amount of people who think any crypto investment is safe and secure.

# ? Jun 30, 2022 01:34

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# ? Jun 8, 2024 19:15

TraderStav: May 19, 2006; It feels like I was standing my entire life and I just sat down

Bird in a Blender posted:

Constantly amazed at the amount of people who think any crypto investment is safe and secure.

The amount of restraint that these guys have (zero) is impressive. Sure, it sounds good, MAYBE too good to be true? Instead of just sprinkling a little bit to see how it goes they put every penny they have in it.

It's incredible really.

# ? Jun 30, 2022 01:35

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Based Wage Making: Money Sitting as a Service

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