diff --git "a/reddit_finance_43_250k_453.txt" "b/reddit_finance_43_250k_453.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_453.txt" @@ -0,0 +1,10000 @@ +Steady if small flow from government consultants like me (we are currently 3) +Contracts for various software projects, including website hosting +I want to know what I should know before buying stock. I've seen their IPO pitch, their presentation, the projected profit of the company, etc, but I feel like these things are always a bit very optimistic. So, what should I know? +Hello daytraders. + +As the title says I am looking for a financial market to trade and I need your help. + +The markets I know are the forex, stocks, options, crypto and futures markets. Which one would you recommend the most and why? + +Thank you in advance. +I have made a token on the Ethereum network and I would like to airdrop it. I have never done anything like this before. My token is called Myorigionalcoin or MOC, there are only 100,000 in existence. + + +Here are the details as to what it does: + +1.) literally nothing + + + +Problems that it solves: + +1.) None + + + +Technological advances: + +1.) It looks pretty neat(jk I don't have a website for it or a logo) + +The current exchanges its listed on: + +1.) None + + +Its current price: + + +1.) 0 + + + +But I believe that it's going to be worth thousands in the future. + +If you have any ideas as to what steps I should be taking next to make this coin the next big thing, please say so! I think I'll try to get it on binance. + + +If this community wants to, I will take the first design that has MOC in it and it will become the official logo(as long as it is sfw). + +Proof that it exists is here: https://etherscan.io/address/0x9261975043e2b6b52170ec506882f3afc4fe3305 + + +If this post has hyped you up, I will try to make some sort of airdrop within the next week or two. Probably through a google survey or something. I have no idea what I am doing. + +Hey all, I'm a new investor here, 14 yrs old, and I'm about to invest 50$ tomorrow when the market opens up into ASTI. I did lots of research and my dad even likes it to. But I'm still very nervous, it took along time and work to get this money. In total from July I made around 350 bucks and I really want this 50$ to fly. What do you guys think? +I shorted an AAPL put $205 09/28 DTE last week. Yesterday, the price of that put opened around .52 or .55 then it suddenly jumped to more than .60 after the VIX index went up although AAPL stock price yesterday was green all throughout the day. + +Was the price increase of that PUT related to the VIX or was it something else? +I have 2 $3640 calls 2/18 and 1 $3300 call 2/18 and +one ODTE $3620 2/4 (tomo) call. and honestly i'm +not sure if i should just sell them all tomorrow at +open or what +I have a noob question in regards to taxes and the stock market: + +&#x200B; + +I am unsure how I am being taxed when trading on Robinhood. I have been on the app (and also new to the stock market in general) since June of this year. I am24 years old and make $45k/annually. I will admit, I have been short selling stocks since I started. How am I exactly being taxed on each stock? Also, say I made a $1000 profit off of a stock such as Amazon, and then later lost $1500 from Amazon later. Am I taxed for both or how does it all work...I'm also not very educaed with finance so if someone can break it down for me I would appreciate it! + +&#x200B; + +I know I should really educate myself before all of this, but I would appreciate it if someone could answer this question. +Hello I am a brand new investor into the stock market although I have paper traded for a while and built up a relatively nice portfolio in that, I’m looking in Low Risk-Mid Return stocks BlueChip stocks would be a good option in my opinion but I’m just looking for more options 2 Top Candidates for my choice is TSLA after Split or AAPL Just before split Any advice is highly appreciated! Thanks! +I am starting university this year and will be able to access a student bank account with a £1k 0% overdraft. As I am fortunate enough to most likely not need the overdraft, I am wondering whether it would be a good idea to put it into my ISA, let it gain value and then when it is time to repay the overdraft (a few years after my course ends), give it back and keep the interest? Apologies if this is a silly question, I'm just wondering if its a good way to get a little bit of extra cash to have at the end of uni. Thanks +Like the title says I was irresponsible a few years ago and didn't pay my five student loans for the first ten months I owed on them. + +I have not missed a payment since the end of 2013. I have opened a few other credit lines that I also don't miss payments on. + +My problem is that I have 50 late payments on my credit reports and credit karma just told me that after just 1431 more on time payments I can move up to the next level. That's 119 years!! + +My credit was tanked to about 560 because of those late payments and I have gotten it up to 660. The thing is my credit score hasn't changed on credit karma in months except for 1 point this month on the transunion report. + +I would like to buy a truck around May and I'm afraid I will never qualify for financing. + +Thanks for you help guy. This sub is the reason I have come as far as I have! +The other bad thing I have on my credit reports is a pretty high credit card balance compared to my credit line. I do seasonal work so that will be paid off in about two months. I also took out a second credit card to lower the available/used credit ratio. + +So now that I have shared all of that, is there any way to eliminate those late payments from my history or am I stuck with it forever? What else can I do to bump my score? Most importantly am I goo to be disqualified from decent financing and should I just bring up the fact that I have those missed payments but they are 3 years old if I do try to finance a truck? +I would like to rant. + +* This is what [r/wallstreetbets](https://www.reddit.com/r/wallstreetbets/) is for +* It would be nice to see a thesis besides 'I thought xyz stock/etf was going up/down, so I bought calls/puts' +* Given the above bullet point, congrats on your winning lottery tickets +* It helps absolutely nobody with anything, and provides no substance to this sub whatsoever +* The only people who think you are cool are people who have no idea what they are doing +* These people then start asking noob questions that should be contained in the Noob Safe Haven Weekly thread +* Most of all, you're just creating useless noise + +I realize that me posting this also provides no substance and can seem elitist/pretentious. I also realize that I probably wasted time typing this. Feel free to let me know. I don't care. It's annoying. + +</rant> + + +**Edit:** + +**It is beyond my comprehension that some people think I am just mad about losses or being a 'hater'.** + +* I love wallstreetbets and all of it's crazy gains & losses and wild ideas +* I also love reading and having thoughtful, intelligent discussions specifically on options theory and strategies +* I am saying I would prefer if these two things were kept separate +[https://www.reuters.com/article/us-facebook-cryptocurrency-france-german/france-and-germany-agree-to-block-facebooks-libra-idUSKCN1VY1XU](https://www.reuters.com/article/us-facebook-cryptocurrency-france-german/france-and-germany-agree-to-block-facebooks-libra-idUSKCN1VY1XU) +I'll be brief, because I've already written [this](https://www.reddit.com/r/CryptoCurrency/comments/7nnnnv/delusion_cultism_and_market_inconsistency_in_the/). + +According to Statista, the ***global*** + dental market size is, at the moment, + roughly $30B. ([Source](https://www.statista.com/statistics/731751/global-dental-market-size/)) Research and market reports [similar figures](https://www.researchandmarkets.com/research/lj7phr/global_dental) (full article must be paid for). + +At the time of writing, the value of a Dentacoin token is $0.005, with a total supply of a stunning 8T. That's a $40B total valuation if you include locked tokens. Dentacoin has no adoption right now. And it's valued more than the GLOBAL INDUSTRY IT AIMS TO DISRUPT. + +Still think all your coins are undervalued? +I'm currently trying to tie all my old workplace pensions together but have run into a problem with one of them. + +I worked for a large multinational company in 2013 for about 18 months (I was working in the UK and always have done) and contributed towards a Defined Contribution Pension Scheme there. I contacted the company in question last week trying to find out how I could transfer this pension out to my new SIPP. They told me that because I had not contaced them within a certain number of years after leaving (I think they said two years?) and because I had only worked for them for 18 months they have taken my pension and theres nothing I can do. + +Is this correct? Its not a great sum of money by any means but I can't help but feel like I've been robbed. It there anything I can do to get this money? + +Thanks a lot for reading. +Sold an item on eBay that the buyer falsely claimed was fake. It isn’t. eBay sided with the buyer and sent them a return label. The item was not returned. + +The buyer then initiated a chargeback with their bank and PayPal sided with them and deducted the amount from my PayPal balance. PayPal says they’re currently fighting the chargeback but I’m on the hook for the amount in the interim as there was no seller protection. + +So basically, any buyer can at any time dispute an item as being fake on eBay, get a refund, and essentially steal the item from the seller without any recourse? + +What action should I take here? + +Never selling through eBay ever again. +There's generally a lot of regret around here, especially during bull markets, about not getting in earlier. New investors all want the big gains and they look at the vets enviously because the vets bought in when things were "cheap." But the fact is that most people who have done very well in this space and have actually made life-changing money have had to hodl through very difficult times. + +What we are seeing now may be just the beginning of a long and difficult bear market. Most of the top projects are already down 50% to 70% from their ATHs. Yet those people who you envy for getting in early have all dealt with this before. They absolutely dealt with the FUD, with the bleak outlook and crypto having "no future", with the pressure to sell (even at a loss), with the seemingly mounting opportunity cost, and they still decided to hodl for better days. That is a VERY difficult thing to do. If you had gotten in earlier, would you have been able to hodl? + +Here is the opportunity for everyone who joined us in the last six months to test their conviction, get some battle scars, add to their bags (wisely) and hopefully come out better on the other side. Will the last bull be the last bull? Probably not. So the only thing that could prevent you from becoming that envied vet next time around is quitting now. +I'm 27 years old and I don't make a lot of money or come from money but I manage to get by. Ive manged to clear up up all my debt and build my credit score to about 750. My score stopped increasing as I'm not in any debt. I have a car and motorcycle that are owned outright. I don't own house but Its one of my goals but I don't see that being possible at the moment with the current housing market. Over the last year ive manged to put together a little over $20,000 Cash while covering all my bills. I detail cars, have a photography business and do odd jobs so I don't have any fancy retirement plan. What would you do if you were me? +Is it smart to invest $10,000 into ibonds this year? + +For context, I am trying to save $70,000 by next year for schooling. I would hopefully be starting my program in 2024. I do not want to leave all of my savings in a savings account when it could possibly be making some profit. From my understanding ibond profits can be tax exempt if used for schooling. Is this a smart to investment given my goals? +So, we have all heard it, make an emergency fund and drop it into a high yield savings account for future use. That's great and all, but, what is a high yield rate realistically? If I search on google high yield savings account, I find rates ranging from 0.20-0.60%. This can't really be true, can it? At this point isn't the inflation just eating the cash, shouldn't realistic yields be close to 2-3%? Basically, is the highest savings yield you can get 0.2-0.6%, or is there a way to get an account that can get you north of 2%? + +I live in the US, but am from India. So, of course, I have looked into Indian banks as well and they literally offer 4-6%! Would it be wise if I held my cash/emergency funds in Indian banks for higher yields? +My income is about to jump from $50k/yr to $100k/yr. My wife earns $50k also. We're both 48. I have $12k in personal savings and only $10k in my 401k. My house is paid off. I have about $1500 in fixed monthly expenses. We have 3 paid for cars. I owe about $5k in student loans. No credit card debt. I want to avoid getting killed in taxes. I'm worried about my lack of retirement. I'm looking for advice. Thanks. +My friends father passed away recently, while I am grieving with him I am also very scared for the future of his family. He is a 21 year old who recently graduated with a degree in biology, he has a mother who does not work and 2 younger siblings each with their own plans for college. The father was the main supporter of the family making 6 figures but now their income is exactly 0. I know they have debt and they recently sold their house to move into a larger house which they will have to pull out of since they cannot afford it now. My friend is now the head of the household and is expected to support 3 other people. What advice should I tell him so that he can support his family while still working towards a goal of living alone +(No judgmental comments please, hindsight is 20/20 and we wish we’d made different decisions) Good morning! I’m looking for advice for my parents. + +Income: Their current income situation: my dad is retired and gets $1200/month from social security. My mom is a teacher and takes home $800/month after insurance is taken out (not a typo) she also gets $900 from social security. When she retires she’ll get an additional $300 from her teacher pension. + +Assets: They have a 30 year mortgage they’re about 5 years into and the house is valued at $500,000 or so. My dad has already used his whole IRA. My mom has $12,000 left in hers. They own one used car. Nothing fancy. + +Debts: they have $12,000 in credit card debt. Also some medical debt, I think $20,000 or so. They have a payment plan for it. + +So far I have helped them make a budget so they’re not going further in debt. Also advised them to transfer the credit cards to a zero interest promo card so they have 18 months to pay it down. + +I don’t make a ton of money but I am stable, middle class income and almost debt free. I wish I could help my parents more financially but right now I’m trying to give my advice and maybe as I make more I can give them more. + +My question is whether I’m missing anything. I’m no personal finance expert. Should they declare bankruptcy to get rid of the credit card debt? Does that work for medical debt too? Thinking about the long term and retirement (my mom wants to retire in 10 years) I feel like it’s not realistic for her to afford her mortgage so maybe she should plan to move in with me at that point? Any advice would be so appreciated. + +Editing to add more detail: my dad is in his 70s and not in good health. Mom is in her 60s. They bought their house for $390k and it is now valued at $500k ish. +My friends are going on a trip to Europe and want me to go, it’s about 3k+ for EVERYTHING for 13 days + +I have 60k student loans and 10k credit card debt (100% of credit card being utilized) + +I’m in nursing school so I haven’t worked really which is why I’m so drowned in debt, I finish in 2 months though and just got a job paying 40$ an hour… + +Should I go on the trip and be frugal after or if it too irresponsible + +I genuinely need input because I have no clue, I’m not even leaning more one way or another +Hi so me and my SO recently got jobs that more than tripled the amount of money we’re bringing in and I have no idea what to do with it. + +I have some ideas for maybe retirement and savings, but otherwise I wasn’t ever really educated on money and I don’t know where to find good resources for personal finance. + +Any books or other resources you all know of that will help someone new into money and what I should do +Right now I have about $15,500 in a Rollover IRA as a result of transitioning employers. What I’m wondering is if I should pay the taxes now to roll it into a Roth IRA instead. + +For context, I made about ~$80,000 in 2021. I am filing single (getting married in 2022) and living in Massachusetts. I am wondering if the tax implications of conversion are worth the the longer term growth benefits. In my mind, taxes are currently pretty reasonable right now. + +Thanks! +I have an “emergency” fund of $20k. Woohoo, met my goal. That said, I think $20k is a bit much for an emergency fund, and I am interested in investing 1/4 - 1/2 of it to see it work for me. + +Note: I already have $27k in my Roth IRA and $4k in my 401k. I could still max out my Roth this year, though I was going to put my annual bonus towards that. I’m 25F so nowhere near retirement. + +Edit: No debt +Hello everyone! So I am moving into my first place, now the area I live in is crazy expensive sadly and the most affordable 1 bed 1 bath I can get rn with my deadline is $1,395 a month. I make $2,760 a month working 40 hours a week. This isn’t preferred obviously but I’m kinda being forced into it as I have no where else to go lol so I’m trying to make it work. Is there anyone on here that could help me set up a budget? +My girlfriend just got a school loan that got deposited directly into her bank account and she asked me should she put 6000 of it in a Roth IRA and just pull from that 6000 as needed so the money won’t be sitting in a savings account doing little to nothing. I’m asking this question because I think it’s a good idea but I definitely didn’t want to get other opinions from people that might know more than I would on the subject. + +So basically my question would be would it be a good idea for her to do this or is there something better she could do with the loan money until she needed it +Hi all + +I'm currently renting an apartment in the bay area (my share is around $1600 a month) and lease is about to end. I checked my latest paycheck ending 10/31 and realized YTD I've been taxed around $7k for California taxes so probably 8.2K by end of this year. + +If I move to a no income tax state, is this the same as saying I'm essentially giving myself an 8.2K raise? + +Has anyone had a good or bad experience moving out of the bay area and what city did you move to? For me, it seems like a no-brainer to get out of here since I can't seem to job switch to get a bay area salary, plus probably lower rent in any other city, and moving costs are probably negligible. My only concern seems convincing my significant other. + +FYI - I work remote, so my current job isn't affected. +# Basic English explanation of the process + +To demonstrate this, I take each block, figure out the average transaction size and weight, calculate how many of these segwit would allow in a block, and then measure the total sizes of them. + +Because the generation transaction is inherently unusual, and few transactions make too small a sample size to be meaningful, I exclude blocks with fewer than 16 transactions (ie, empty blocks). + +Finally, I take the average of these segwit block sizes. + +# The result + + 25th pct: 1807737 + Average: 1890429.153079902 + 90th pct: 2062659 + Largest: 2816041 + +Yes, 1.890429 MB is close enough that I'm going to round it up to 1.9 MB or even 2 MB considering the *Notes* below. + +# How to reproduce this + +Note I do all this stuff on Linux. If you don't know how to use Linux yet, get a Raspberry Pi and learn. ;) + +**1\. Build custom bitcoind to calculate max segwit block sizes.** + +Apply [this patch](https://gist.github.com/luke-jr/62435b3fb80fcf9c12a4629be02c5861) to your bitcoin code and recompile: + + curl https://gist.githubusercontent.com/luke-jr/62435b3fb80fcf9c12a4629be02c5861/raw/e7baefecff05322277773410ec5e841164a54bcb/segwit_equiv_hack.diff | patch -p1 + make + +**2\. Generate table of max segwit block sizes.** + +[Re]start your custom bitcoind, and for each block, print its height, block hash, max segwit block size, and transaction count. + + first_block=412404 last_block=465000 + while [ $first_block -le $last_block ]; do blkhash=$(bitcoin-cli getblockhash $first_block); echo "$first_block $blkhash $(bitcoin-cli getblock $blkhash | python -c 'import json, sys; j = json.load(sys.stdin); print("%d %d" % (j["segwit_equiv_hack"], len(j["tx"])))')"; let first_block=first_block+1; done > data + +This is looking at the last 1 year of blocks. + +**3\. Calculate average (and other stats) of statistically-useful max segwit block sizes.** + +Save [this Python script](https://gist.github.com/luke-jr/333479252069bf6a6711046e6731d730) to a file, then run it: `python size_statistics.py < data` + +# Notes + +1. These statistics are assuming *every single block* is full, and with the same ratio of spam/non-spam as presently. In a less extreme scenario, if a block maxed out at 1.8 MB, the 200k of transactions left would simply get mined in a 2.2+ MB block instead since the average block size wouldn't be the average *filled* block size. +2. The network currently does not have any Lightning or sidechain usage yet. It is likely these will weigh heavier on witness data, and thereby expand the block sizes further, possibly even hitting 3 MB. +How do people overcome the constant worry about finances? + +I'm by no means struggling. I have a decent salary, I'm able to save some money every month etc and certainly appreciate that I'm in a better position than many others, but I just constantly worry about my finances. I live on my own so I don't know if some of the financial stress comes from the fact that I know I don't have another person to fall back on if needed. + +How do people get over this so that they're not worried about finances constantly or are we all just worrying about it and accepting that it's just part of life? +Is it more worthwhile to overpay my mortgage regularly or save up to pay off in 1 lump sum towards the end of my fixed term? + +&#x200B; + +5 year fix - ends Jan 2024 - 2.59% interest - £95k capital to pay, about 88% current LTV - £353pm + +I'm only saving around £50 a month to overpay - right now it's £1,100. Estimated by end of fixed term to be about £3,500 . + +My savings account is just a Marcus so I'm assuming that paying off each month/regularly and saving the 2.5% interest over the 1.5% savings would be better? +All this talk about claiming a stock market crash is bound to happen, I’m here to tell you it’s happening while you’re waiting for it. + +In the past all we’ve seen were ‘unexpected sudden’ crashes (for the avg joe that is). So how do market makers crash the market learning from the past and make money whilst it happens ? (Great depression ‘08, COVID etc) + +The market has been in a steady but ‘slow’ decline over the last couple week (months). Whilst everyone is waiting for a 50% decline, it’s happening 5-10% at a time, while everyone has been talking about and waiting for it. + +Alot of new investors, even experienced ones even have begun to worry. In conclusion; the ‘crash’ has been ‘completed’ for 70% at this point. + +Not financial advice. +Looking at my bills, it has gone from £80 to £110. + + +I had a chance to fix my tariff with octopus for £85 in August but thought can't be asked to pay £5 more. Now they're asking for £150 🤣🤣. + + +So... how much everyone else been stung by? +Considering I dont really have any professional knowledge regarding taxation for various countries, is there a known hard line that says "that can not be done here because"? + +Basically there is an option over there that allows couples to share the tax free threshold (or tax brackets, I cant quite recall the exact thing) if one person works, but the other does not. + +Opinions are perfectly ok to post if you have them, I am not saying its good or bad, just wondering why it may not be done here. +Tesla is closing its office in San Mateo, California, and eliminating an estimated 200 jobs there, CNBC has confirmed, as part of a broader cost-cutting effort at the electric vehicle company. + +At the San Mateo facility, hundreds of employees were tasked with labeling videos from the company’s cars in order to improve their driver assistance systems, marketed as Autopilot. Bloomberg first reported on the office closure and layoffs. + +Two employees impacted by the layoffs told CNBC on Tuesday that they knew Tesla’s lease was approaching its end. The workers asked not to be named because they weren’t authorized to speak on the matter. + +Source: [https://www.cnbc.com/2022/06/28/tesla-cutting-200-jobs-closing-autopilot-office-in-san-mateo.html](https://www.cnbc.com/2022/06/28/tesla-cutting-200-jobs-closing-autopilot-office-in-san-mateo.html) + +**Tesla (TSLA) fell back below $700 yesterday after announcing that it is cutting about 200 Autopilot jobs and closing its office in San Mateo, California.** + +**Do you think TSLA might break below this year’s low at $620?** +Hello again everyone. I posted here the other day but I am indeed back to ask another question. This is for those of you guys and gals who have built up your net worth and cash flow/income with real estate portfolios. How did you start? How did you scale, and what are some of your strategies to increase your net worth and cash flow over time? +There's lots of stories about FANG software engineers and crypto millionaires reaching fatFIRE but I was wondering if anyone has fatFIRE'd or knows people who have fatFIRE'd by taking a more unorthodox route. For instance, I know of a friend of a friend who's family owns a chain of sex shops and also manufactures dildos and other sex toys for their shops which they sell online. Surprisingly (or not?) they are immensely wealthy and they do very, very well for themselves. I also know of a gentleman who is a high flying real estate agent in my area specializing in luxury real estate who claims to have made $3 million last year. Anyways, I'm eager to hear if anyone else has similar stories! (Not hating on you if you fatFIRE'd by being a software dev or a crypto investor either, that's still cool in my books) +Hello, + +Looking for some general advice regarding income protection insurance, and whether it's worthwhile having, considering a recent change in medical circumstances. + +A bit of background: + +30 (F), working full time on £27k p.a. +My share of monthly outgoings is approx £800 p.m. + +I've recently come out of hospital following a scan which found a mass on my brain. I don't have a formal diagnosis of what the mass is yet (I.e. tumor, sarcoidosis etc) however may find out more in a follow up scan and consult in 6-8 weeks' time. + +My current symptoms are mild and I'm able to function/work as normal at this time. I'm financially planning in case I should be out of work either for surgery or if my symptoms ever worsen to the point of being unemployable. + +I am a joint homeowner with a mortgage and one dependant. Approx 30 years remaining on the mortgage. I have life insurance (to cover the mortgage) and critical illness insurance in place. The critical illness cover only pays out for benign brain tumors and a handful of other conditions listed. + +We also have a 'family protection plan', which when we took this out sounded similar to income protection, where my.monthly salary will be paid. However, this only looks to pay if the policyholder dies within 12 months of having a terminal diagnosis. We are thinking of replacing this for income protection. + +My (and my husbands) employer(s) do not offer income protection as an employee benefit. + +So, considering the above: + +1) Would i need to disclose details of my recent scans with potential insurers (and also my current LI and CI insurers?) + +2) Would my recent scans implicate any income protection insurance policies? (I.e. be classed as pre-exisisting and not be cover?) + +3) Is it it likely that I would be able to get covered at all, or will my premium be scarily high? + +4) Should we get an IFA for the possibility of needed specialist insurance? + +Any advice will be greatly appreciated. Thanks! + + + +EDITED TO UPDATE: Thank you all for your advice and insights from their own experiences. Also thanks to all those who commented their kind words. Had a lot more feedback than anticipated! + +We will be waiting for a diagnosis and going from there, as most have suggested. + +I have reviewed our current policies today, and it seems that the critical illness insurance will potentially provide some level of cover depending on the diagnosis. 4 conditions that were mentioned as potential causes during my hospital stay are listed on the CI terms and conditions, so we may have to rely on this if anything comes of this next scan/consult. + +For those who have mentioned employment - I've only been in my current job for 6 months, so will be in talks with management and HR over the next week to see where I stand. +We've been working hard to make Bitcoin adoption easier for merchants and more rewarding for consumers. Today we have Emily and Tony S. here to answer your questions, so fire away! + +[New Pricing Announcement](http://blog.bitpay.com/2014/07/29/bitpay-s-new-plan-free-unlimited-forever.html) + +**Edit:** [Proof](http://imgur.com/aB93Loa) + +We are closing this up for the day, thanks for the questions! +Look, I realize sending it in the first place was my mistake, but Kraken had promised me a maximum of 90 days to have my coins retrieved. + +I don't want to incite too much pity, but I am *tens of thousands of dollars in student debt and medical debt from a life-changing surgery* that I had to do. It's been the roughest 7 months of my life, waiting for the email for Kraken to retrieve my funds. + +And although this was my mistake, Kraken had given me the hope of retrieval. I would understand if they just flat out said no, but they didn't, and every day I go to bed wondering if tomorrow will be the day. + +They would literally be able to change my life and eliminate most of my debt yet they are completely refusing to even communicate with me at this point. It's been a month since they've last responded. In this time I've escalated *three times* and have sent 5 more emails. + +Look, I know I'm not special and I know that it was a fuck up, but this situation has brought me to tears and my levels of anxiety have been at an all-time high. + +This community has been so great and I just wanted to vent my frustration to you guys. It sucks :( + +edit: The coins are still verifiably at the same address I've sent to via a block explorer, so I know that they have not stolen them. + +Edit2: I've even offered to pay developers for their time and still - no response! +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +So we all know that too many people are buying blind without knowing what they’re doing and they are being influenced to invest thinking the price will rise and other people are encouraging them to have a go. + +My friend invested around $ 5000 in a meme coin. Do you think he knows what he's doing? He is not researching the facts, dollar cost averaging, and diversifying into other assets. + +And viewing charts and youtube tips? Will the price go up, down or sideways? can charts really predict the future? They can help you a little bit maybe but for example, can you by looking at the chart predict a law that America or China will pass that can have a great impact on crypto? Also, how many of us went in just because of fear of missing out, driven by emotions. + +I think that I read that at least a quarter or a third of us have very little knowledge about the coins in which we invest money. + +I will be the first to admit that when I started I was not even remotely interested in the tech of most crypto. Now I am interested but its still hard to understand lol. The point of the story is that I don't know sh \* t about f \* ck genereally lol. +TLDR: HMRC made a big tax calculation mistake and insisted they were correct. It was only resolved after a lot of pain and persistence. Check your tax calculations! + +I submit self assessments every year and my tax is very simple, just have PAYE from one employer plus some interest and SIPP contributions. This year I was due refund due to the SIPP. Shortly after I submitted, I got a letter from HMRC saying my calculation had been corrected and I had a "tax underpayment" from a previous year of nearly £4000 (!) which I needed to pay. + +I phoned HMRC and a lady looked into the issue. After being on hold for 20 minutes, she came back and said she had partially corrected it. I asked why and she said it looks like "shoddy accounting" by HMRC (!). She removed some of it but said I still owed £400 of underpayment but she couldn't explain why. I then spent the next 30 minutes arguing that this was not possible. I settle my tax in full every year, either through a cash payment if I owe them or they pay me out if I'm in credit. All she could say was that the system said I owed it, so I needed to pay it. She said this was probably due to bank interest which I hadn't informed them of, but I showed her that I had declared everything in the SA. Astonishingly, she then said putting income in the self assessment was not sufficient, I had to phone HMRC up every time I earned interest as well so that they could "add it to my tax code". I tried to explain that since I do self assessments, my tax code is irrelevant to my tax calculation and if I paid this now, I would have paid that tax twice. I walked her through my tax calculation to prove this. She eventually got irritated and said that people need to pay their taxes so I need to pay mine and then she hung up on me. + +I rang back, got a new agent and went through the whole process again. This time sense seemed to prevail and the agent agreed with my reasoning. He couldn't explain the £4000 but said that the £400 underpayment was listed as "potential underpayment" which "the system should have cancelled". He had to raise a ticket to get it all fixed in the system and eventually I got a letter in the post admitting to the mistake and confirming they now actually owed me money. + +I'm not an accountant but I keep meticulous records of my tax and a parallel spreadsheet calculating everything. It worries me how many people might accept HMRC's calculations without double checking themselves and get done in. It's even more worrying that at least one of their agents clearly doesn't understand how self assessments work. + +Double check HMRC's tax calculations! +Hi All, + +I'm the author of that post: [https://www.reddit.com/r/Bitcoin/comments/dlvokv/how\_i\_lost\_4\_btc\_on\_lightning\_network/](https://www.reddit.com/r/Bitcoin/comments/dlvokv/how_i_lost_4_btc_on_lightning_network/), and wanna give some important advises and explain what happened. + +**In the end, it was LND that saved my coins and most of them are already RECOVERED.** + +With huge support from the LND community those were the successful steps: +Step 1: coop-closed channels with funds on seed +Step 2: remote force-closed channels with perCommitPoint in channel.db +Step 3: remote force-closed chnnels where we have to ask peers for the perCommitPoint +Step 4: try with SCB again with remaining channels +Step 5: still open channels, try force-closing with old stat + +Advises: + +1. If you have a physical server always use UPS power supply to prevent power fails. +2. If you wanna force-close channels, always do it manually, one-by-one when your node is FULLY SYNCED. +3. Create SCBs (static channel backups) every time after opening a new channel and keep your 24 words seed. +4. After pressing the "RETRUN" button, don't panic, WAIT and don't press Ctrl + C (like me) instantly after that. +5. Inform yourself how that system works before sending higher amount of coins there. + +&#x200B; + +Regards, +ZipoTm +Dear people of Catalonia, congratulation on making steps for independence. It's 2017 and no one should be forced to be meber of a comunity (or country ) if they doesn't want to belong. + +But expect Spanish governement to react in many ways, one of wich would definitely be through EURO + +Defend yourselves and BUY BITCOIN, even if your future country plan a different FIAT in the next years. + +If your economy is 100% euro you are 100% vulnerable, go Bitcoin 50% and you will be 50% shielded. + +Don't let FIAT be the reason SPain can make you feel sorry for wanting independence! +Asking for a friend (haha), no really. I told my friend to open a LISA now and read up about it later. But that was it, I can't think of anything else. Anyone has better wisdoms please? +I’m in the process of transitioning to fatFIRE during the next 6 months and I will then stop working entirely. I was wondering if anyone has recommendations for good reads regarding personal development, finding new meaning in life, or other interesting topics. + +For context, I plan to take take some well needed time out, travel, nurture relationships, catch up on hobbies etc, but I’m looking for any books that may have helped others find new directions or greater satisfaction in life. + +For the purposes of the above question, I’d like to avoid any reads solely focused on financial planning/investing etc. + +Many thanks! +I'm on the younger side of the fatFIRE game and just got married/planning on starting a family this year, so looking to get the house in order. We've got liquid assets, retirement savings, interest in various companies, and real estate (held mostly in a bunch of LLCs) that we want to pass to our (future) kids as smartly and efficiently as possible. On the advice of a trusts and estates attorney, we're planning on setting up a revocable living trusts and transfer all assets into it to avoid probate and conservatorship. We'll still have wills, which will "pour over" all assets into the trusts, and name guardians for the future kids. My questions for this group: + +&#x200B; + +1. Have you all taken this path, or a different one? +2. One thing that the attorney mentioned was the possibility of setting up a "family limited partnership" to be a topco entity to hold the LLCs we have interests in. Anyone have experience with this structure and have any thoughts on the tax efficiency/liability concerns of having a topco as an LP? +3. Has anyone done any thinking about whether property held in a trust for the benefit of children down the line affects the financial aid calculus at colleges (I don't think we'll qualify, but if there is a way to legally hack it so we do, that would be great.) +4. Anything else you've thought through as you plan on how to pass your fat stash to the next generation? + +&#x200B; + +&#x200B; +Hello guy's I'm M22 im doing a minimum wage job to earn a living and support myself but doing small jobs really hurt my ego and my thoughts constantly remind me of that I deserve more then this crappy jobs so guys please tell me how to get rid of this egoness and those thoughts because it really bother a lot in my work plus my heart doesn't full goes for the work in short I don't proud of my work? + +Edit: I really appreciate all the comments and I want to say that I will try my best to change my attitude so that oneday I will proud myself that I really didi it. +Hi guys so basically long story short I’ve been living on my own since I was 15 when I turned 18 I got a credit card not really understanding how it worked and by the time I turned 20 I had accrued $4000 in credit card debt that I could just never catch up on. I fell on hard times and increased my credit limit another $2000 and was unable to pay that back as well. Shortly after I turned 22 I closed my credit card (which I now realize I shouldn’t have done) but I consolidated the $6000 debt and… + +Today I fully paid it off! In a little over 2 years! + +I also had some student loan debt of $7000 that’s currently sitting at $2000 as well! + +ITS POSSIBLE YOU GUYS!!! + +Keep working hard everyone, it’s super worth it😊 +I'm so sick of seeing "luxury apartments" renting for astronomical prices. I mean, who even has that amount of money? They're popping up everywhere and I can only imagine they're mostly vacant. + +I say this as I'm moving to a new location, have taken a significant pay cut to do something that I hope I'll be happier at than previous job, and the income I'm being paid doesn't even come \*close\* to covering the cost of living in the area in which I'll be living. Thankfully, my partner secured a job in the area last year and he's being paid well, so I won't be completely destitute because I have someone to cut the costs with. But even so, with the amount of money I'm making, the thought of going halfsies on an apartment that costs more than $1400/month (not including utilities) makes me cringe. In addition, I have to move my son with me -- he's considering getting a job once we move so he'll have his own spending money as I've told him our budget will be tight. + +How do these so-called luxury apartments stay in business? Who has this money? None of this makes sense to me and has caused me to have extreme anxiety about my move. In short, I'm forced to either stay at a job that is robbing me of my vitality to ensure financial freedom or make a move that impoverishes me financially but gives me back some of my vitality and freedom. +If not, here's a quick recap: The media told everyone that Apple was not a good stock to buy or hold and that everyone who owns it should sell it before it crashes and dies during its early days, all while at the same time Banks were adding it to their asset catalog, blocked a majority of their clients from being able to buy it, and allowed only their most wealthy clients to add it to their portfolios. + +Sound familiar? It was some hell of what felt like an endless stream of FUD that they spread on Apple, which as you may know is only the most valuable company in the world today. + +**Here's a tweet pointing out the early Apple stock FUD days:** [**https://twitter.com/APompliano/status/1365671526612221955?s=09**](https://twitter.com/APompliano/status/1365671526612221955?s=09) + +They scared my poor immigrant dad who came to this country with nothing and started investing in his youth, out of his Apple stock in the '97 for a small $40k profit with their endless stream of FUD news lies. That news stopped him from ever investing back into the market. + +And that stock he was scared into selling would be worth millions today. I can only imagine how many other people they scared out of that stock and others like it, who could have greatly improved their lives and the lives of their families with those internet tech stock assets. + +Because of that experience, I'm never letting them scare me into panic selling my Bitcoin. HODL'r and diligent DCA'r for over a decade now, and I will HODL and DCA until my kids can inherit my fortune and become HODL'rs and DCA'rs themselves +I am fortunate in that I'm currently in a well paying specialized job where my income allows me to save massively towards fire. The unfortunate part is I strongly dislike the work, my coworkers and the role is quite stressful. I've frequently thought about doing something different - something where I don't dread walking into the office most days - +but leaving my position would entail a 50%+ pay cut. + +I realize my current role is the absolute fastest way to fire, but also hate that to get there I'll be spending years doing something I don't like. + +Curious if anyone has been in a similar position and whether other have put fire over their ideal work/work-life? + +edit: this blew up way more than I imagined and appreciate the thoughtful responses. For more context, I probably have 15-20 years to fire (currently early in my career). Income is ~200k but live in the highest cost of living area in the country so, while I'm frugal, rent is still a very large chunk of my take home. +Was just thinking about what we are doing as individual investors. + +We are essentially saying no to market conditions the same way an amazon worker might do their job. We are saying the system is corrupt and we are not going to take it. + +And what does Wall Street and every associated organism that breathes the same tainted oxygen do? They fight. They try to dismantle. They try to break us. + +They try everything they have to pull the people down. + +*Dissuade and disillusion* + +*Deception and denigrate* + +But people don’t listen and guess what! They are utterly powerless. There is not a damn thing they can do at this point. We realised this a while ago, they did too, now it’s just anything they can do to deny us, to delay the incoming missile on their radar. + +The psychological side of this thing has been monumental. My shift along with almost all others here about price movements and such, it’s unbelievable. + +They thought they were breaking us? Turns out they were making us numb. Strengthening our resolve. What can they do now? Throw it all at us but the book is being written and if all these people are on the wrong side of history, they will finally go down as they deserve. + +For too long we have idolised billionaires who got their wealth through means of abuse of power. We are told they are success stories by the media companies they own, because if that’s success then their treatment of people is not only legal, it’s admirable in a ‘cut throat’ business acumen kinda way. + +It’s sick and it’s rotten and it’s over. We are weeks/ months away from tilting the board in our/ the worlds direction. Just gotta show more patience. More resolve. More humanity than they possess. Never did they think we could buy and hold. + +The floor grows higher and people’s humanity grows stronger with whales and medium sized holders thinking of those with 1 share understanding they deserve wealth too. It is beautiful. + + +Have a great Sunday, tomorrow it starts again and it’s going to be terrific +A p/e of 135 So basically if it was a company you bought as a whole it would take about 135 years to pay off... + +&#x200B; + +I don't get it. I understand somewhat if it was still growth and in market but is it? +Most of it happened while trying to recover the initial loss which just kept increasing. I guess the right move would be to just stop instead of losing more? +Tesla  CEO Elon Musk tweeted Monday morning that his company might sell 20 million cars by 2027 and he sees 30 million electric vehicles sold across the industry. + +The numbers are almost too big to contemplate, no matter how investors dissect them, and dissect them they will. + +Tesla (ticker: TSLA) is expected to deliver about 141,000 cars in the third quarter of 2020 and 483,000 cars for the full year. That amounts to about 30% growth compared with 2019—an impressive achievement given the global pandemic. Ford Motor  (F) sales, for comparison, are expected to dip about 20% in 2020. + +A few numbers were being tweeted. “Seven years for sure to 30 [million plus] new fully electric vehicles per year, six years maybe,” said Musk. “Five years is possible, but unlikely. An extra year makes a giant difference when it comes to exponentials.” + +The 20 million stretch goal is more than 40 times higher than this year’s production and works out to an average annual growth rate of roughly 70%. There is precedent. Tesla increased deliveries by about 100% a year on average in the seven years from 2012 to 2019. + +But Tesla was starting off a base of fewer than 3,000 cars. What’s more, it invested about $11 billion from 2012 to 2019 to produce more cars. It has become more efficient over time, but raising production to 20 million vehicles could take up to $100 billion. That is a rough estimate and, again, hard to contemplate. + +Toyota Motor  (TM) sold about 9 million cars in 2019. It spent roughly $100 billion over the past decade renewing its capacity and retooling plants as new cars were introduced. In the global auto business the numbers are huge. + +None of this accounts for the ramp-up in the supply chain that will be required to take EV penetration globally from roughly 2% to 30%, based on Musk’s comments. He spoke to that issue at his company’s Sept. 22 battery technology day. “We’re not getting into the [battery] cell business because we—just for the hell of it,” Musk said. “It’s because it’s the fundamental constraint. It’s the thing that is the limiting factor for rapid growth." + +At the event, Tesla laid out plans to cut battery costs by more than 50%. It also outlined plans to cut the amount of investment required to build new battery capacity by about 75%. + +Obviously, 20 million out of 30 million vehicles works out to market share of 67%. Tesla’s share of EV sales in the U.S. was about 55% in 2018 and 2019. Those are the first two years of significant sales of the Model 3, the company’s lower-priced model. + +Musk also said he thinks battery improvements will enable the company to profitably sell a $25,000 car. The Model 3 starts at $35,000. + +It is worth noting that Tesla achieved 55% share selling cars with an average price of about $75,000. Ford’s average selling price is closer to $30,000 per vehicle. + +If Tesla were to reach 20 million sales, it would mean the company is generating, perhaps, $800 billion in sales and $100 billion in earnings before interest, taxes, depreciation and amortization. + +There is a long way to go to get there. Investors may be inclined to believe Musk. He’s had a good year. Tesla shares are up 387% year to date, as of Friday’s closing price, far better than comparable returns of the S&P 500 and Dow Jones Industrial Average. + +Gains have made Tesla the world’s most valuable auto maker. + +Source: Barron's + +Thanks for the awards. +I’ve had an up and down ride with options but I’ve generally had success. After the September correction, I really felt like I had a strategy mapped out and I was confident I had the hang of things. At the beginning of February, I was up nearly 500% since December. Hit home runs in ad tech with APPS, MGNI, PERI, others. Adding cash to catch the dip clearly wasn’t a good idea. During this correction I’ve lost all my profit and then some. I was never in any ridiculously short-dated calls, but being in 100% tech and not properly hedged cut my positions in half. I tried to snag several dips that I was confident in on oversold tech like PYPL and AAPL and just got my ass handed to me. It’s upsetting because for months I was basically emotionless win or lose, I just stuck to my game plan and accepted any outcome. I’ve started making dumb short term decisions. Held a short position in TSLA today that was gold until I got greedy, just wanting a massive win that I was used to, and ended up closing for a loss. Just an example of some boneheaded moves I’ve made. I know people here are just gonna tell me to step back and get back into the same headspace I was in before, I just needed to vent. Shit sucks. +All, + + +We've been listening to the community’s response to Josh Garza speaking at [The North American Bitcoin Conference](http://www.btcmiami.com). Comments can be found [here](http://www.reddit.com/r/Bitcoin/comments/2r3d8m/why_you_should_not_attend_the_miami_bitcoin/), [here](http://www.reddit.com/r/Bitcoin/comments/2r0twz/josh_garza_must_not_be_allowed_to_speak_at_the/), and [here](http://www.reddit.com/r/Bitcoin/comments/2qu77k/dear_bitcoin_if_you_dont_like_scams_stop_giving/). + +We suggested to give him an extra 30 mins Q&A and the amount or constructive feedback this has generated has made us rethink this solution. We *do not* want to give so much air time to Josh / GAW / Paycoin / Paybase - +but we do think it is important that we have this public discussion with Josh. We believe that "sunlight is the best disinfectant" and if there is proof that shady business practices are taking place, he should be confronted. + +We think that a Q&A period, moderated by someone you choose, will provide the proper forum for people to make their voices heard. We think that this layout, instead of a speech, is the appropriate forum. + +This Q&A session will be recorded and broadcast, as will the rest of the conference, by Bitcoinist.net + +For now, [here's the latest agenda](http://btcmiami.com/agenda/). + +Best, + +Moe + +Don't miss the train for ZOM! Currently 73 cents pre market from its 48.40 close. Do not miss the train. + + +Of course there will be sell offs once market opens, but don't see a dip as this will continue to climb upwards. This is flying most likely due to Chris Sain mentioning it in a video, but a lot of big fish bought into it recently +Based on track history, I rely on you guys and this sub Reddit quite a bit. What are your thoughts for XSPA this week? They have signed with a bunch of airports, and they seem to be really booming. Do you see a good week coming in this week? + + +We went grocery shopping yesterday and only got absolute necessities and it was still $90. We got the smallest bottles of laundry detergent and fabric softner they had, and the most expensive thing were the 2 boxes of taquitos we got, $12 each, 30 a box that will be our lunch/ dinner for the whole week because we can't afford anything else. We're trying to get back on food stamps, we lost them when i got my job because we were $200 over the limit. I feel like I'm trying to doggy paddle in a flood and am just barely managing to keep my head above water. Hell, I'm pretty sure just 5 years ago, all the stuff we bought would be $40-50. How can people make it like this? +How did you do it? And what advice do you have for someone that is planning to basically be their parent's retirement fund? + +Luckily, I have three other siblings who can help me out. Just trying to plan for the future. My mom and dad are 52 and 57, respectively. My dad works but makes barely anything in a HCOL area. My mom has been a SAHM her whole life. Coming from a low-income family, I want to make sure I am able to plan appropriately. But the thought of having to support them in the future while I struggle to even build my own life is daunting. +I am not a shill. I was floored by the 1 trilly RRP number this past Friday. I knew that number was not good. And, the higher the number, the scarier it seems. But what does it really mean? The DD is rock solid and I wanted to further my understanding of Financial Institutions and how they lend and borrow cash and collateral, which currently affects GME. + +&#x200B; + +I am not a shill and I've never posted anything DD or educational. I sometimes post a meme or two, but I wanted to dig a little bit deeper on my own. I went searching on Youtube for some simple RRP explanation and the following videos helped my ultra shiny, smooth brain. + +I drank beer and ate crans the whole time (Yes I pronounce it Crans). I hope they are helpful too. I have no association to these videos, I just like them. + +&#x200B; + +The first one is a short video from the [Wall Street Journal](https://www.youtube.com/watch?v=gzCkXNrjFQM) . + +The second one is from [George Gammon](https://www.youtube.com/watch?v=jScS6jwCCX0), who as far as I know, is a business owner in advertising and has a Youtube channel teaching economics. If this guy is a shill, lemme know and I'll remove it. + +The third one is from [Economics Explained.](https://www.youtube.com/watch?v=jScS6jwCCX0) + +&#x200B; + +Admittedly, none of these explicitly talk about GME. But we know that RRP is tied to GME, and it is helpful for us to better understand how federal institutions lend and borrow. None of this is financial advice. I'm literally retarded and on Youtube trying to earn economix degrees. I hope this is helpful for some! + +&#x200B; + +This absolutely should not be considered financial advice, under any fucking circumstances. + +&#x200B; + +(I can't determine if this is Media or Education, so please, mods, let me know. I just wanna help fellow apes!) +&#x200B; + +hi bro\~ + +Currently, ants in Korea are making complaints to the press, complaints to the Korea Depository, complaints to securities companies, and complaints to the Financial Supervisory Service. + +Among the many complaints, I filed a complaint with the Financial Supervisory Service. The complaint is as follows. + +&#x200B; + +1.GameStop announced a 4:1 split on July 6th. + +[GameStop Announces Four-for-One Stock Split](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-announces-four-one-stock-split) + +\[today announced that its Board of Directors has approved and declared a four-for-one split of the Company’s Class A common stock in the form of a stock dividend. Company stockholders of record at the close of business on July 18, 2022 **will receive a dividend of three additional shares** of the Company’s Class A common stock for each then-held share of Class A common stock.\] + +&#x200B; + +2.The difference between GameStop's stock dividend split and general split + +1)Split in the form of stock dividends:3 additional shares are distributed to shareholders for new shares issued by GameStop + +2)General stock split: Divide 1 share by 4 shares. + +&#x200B; + +3.On July 22nd, Kiwoom Securities proceeded with a 4:1 split in a general split method (same as other korea securities companies) + +&#x200B; + +4.[Kiwoom Securities says that GameStop reported to DTC as a general split.](https://www.reddit.com/r/Superstonk/comments/wgjmor/the_korean_broker_says_that_the_gamestop_reported/) + +&#x200B; + +5.[Kiwoom Securities Notice](https://www1.kiwoom.com/h/common/bbs/VBbsBoardBHHGZView?Bn8LP=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&JRO2QHs6F=ZHVtbXlWYWwlM0Qw) + +\[There are foreign media that are referred to as stock dividends for the split + +**It is unclear why the news expressed this as a dividend.\]** + +&#x200B; + +1)Kiwoom Securities does not seem to know the difference between stock split and dividend split. + +&#x200B; + +6.[Gamestop's report to the National Tax Service](https://gamestop.gcs-web.com/static-files/1764b8e4-0e1d-41a6-b502-8c5ab7604dc8) + +\[On July 5, 2022, the board of directors of GameStop Corp. ("GME") approved a 4:1 stock split to be distributed as a stock dividend (the "Distribution"). The Distribution was made on July 21, 2022 to GME shareholders of record as of July 18, 2022 (the "Record Date"). \*\***Each GME shareholder received three additional shares of GME Class A Common Stock ("New GME Shares") for each share of GME Class A Common Stock ("Existing GME Share") held by such shareholder at the Record Date.**\*\*No cash was paid in lieu of fractional shares\] + +&#x200B; + +7.[Notice about the division processing problem of GameStop](https://gamestop.gcs-web.com/stock-split) + +\[GameStop has notified its transfer agent and the Depository Trust Company (“DTC”) that some of our valued stockholders in international geographies are still trying to determine if they have received the proper stock dividend associated with the Company’s recent 4-for-1 stock split. **Please note GameStop has already distributed the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it subsequently distributed the appropriate number of shares of common stock to DTC for allocation to brokerage firms and other participants**. \] + +1)Gamestop has already delivered new shares to dtc and transfer agents. However, DTC, KSD, and securities companies do not deliver new shares to shareholders. + +&#x200B; + +8.[German Financial Supervisory Service (Bafin) Notice](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Meldung/2022/meldung_2022_08_02_gamestop.html;jsessionid=34CFB30037DF815084E7EE46EA433FE4.2_cid502) + +\[**The GameStop Corp. decided on a stock split in the form of a stock dividend at the beginning of July. The BaFin has - also due to a few tips from investors - asked the custodian banks to ensure the delivery of the new shares.**\] + +&#x200B; + +&#x200B; + +conclusion + +1.The Korea Securities Depository also says that it does not have the authority to request correction of incorrect rights information to DTC because it is a relay processing agency. + +2.Securities companies seem to lack understanding of dividend distribution. + +**3.As in the case of the German Financial Supervisory Service, the Korean FSS should order securities firms to pay new shares to shareholders.** + +&#x200B; + +[korea community](https://gall.dcinside.com/mini/board/lists?id=thepowerofapeorant) +During the Bull run of 2020 and 21, I thought I understood crypto. Massive players were entering the market. More mainstream acceptance. So much FOMO. The halvening is in 2024! Bitcoin is inflation proof! + +I considered dumping everything into crypto. Taking out leverage. + +But I didn't because this sub would have posts from vets saying - dont do that. Warning that crypto winters are coooold and hard. + +So I DCAed in. I avoided alt coins. I didnt spend more than I can afford to lose. I diversified into energy stocks. + +Now its the end of the world - and I feel fine! No leverage so my crypto can sit there. I have cash so I dont need to panic sell. Im actually getting ready to buy when we truly hit the bottom! + +So thanks to all the gloomy bastards who spent the last two years warning to be careful - I was ready for this shit show because of you. +Hi! My engineer husband is being poached HARD by a startup company in Silicone Valley that he works with in his current position. A startup = instability in my mind, but this company did just land a hundreds of $$millions contract with a major national retailer, so signs are pointing to it being a successful startup anyway. + +My husband currently makes a $100k base salary with bonus potential up to $130k - he has been averaging around $115k annually. I am a SAHM 75% of the time to our 1.5 year old and am pregnant with our second. I do have a unique gig 25% of the time where I pull in about $40k annually. Unfortunately this gig is hyper-local so that income would be gone if we moved. + +Right now, we live in a medium COL Midwestern city - however I’d say our personal situation is low COL. We have no debt besides our mortgage, no daycare, we are able to max out our Roth’s each year, and my husband puts away about 12% into his 401(k). We bought a house 6 years ago, so although prices have skyrocketed in our neighborhood, our mortgage is very low as is our interest rate. In the last 2 years since he got his current job (after he graduated with his masters so it was a big jump), we’ve been able to save up a $25k emergency fund, create a $20k stock portfolio, started savings accounts for our kiddos, and sunk $50k into our house for necessary renovations (roof, windows, siding, furnace). + +During negotiations with this startup, he said he would need a base salary of at least $300k to make a move like that worth it for us. He found a cost of living calculator online and that’s the number it literally spit out. It would be compensating for our giant jump in cost of living, my loss of income entirely, and sweet enough to not be a lateral move for us, frankly. + +They told him he was crazy and that no engineers make that out there. The best they could do is a base salary in the high $100ks with another $100k of company shares, which if it IPOs eventually (not sure if I’m saying that right) could make us very wealthy. + +It’s tough because on one hand this job could by itself be a great thing with the shares aspect if it takes off, especially because he’d be getting in early. And it also could open up a ton of other opportunities for him - I mean it’s Silicone Valley and he’s an engineer. + +But he’s not a single guy, and we are very comfortable right now. It would be such a drastic change, especially considering our mortgage alone for an equivalent house out there would be 5x more. I don’t even know if the startup has a benefits package, and with a birth on the horizon plus two small children, that’s super important too. + +Is the answer here obvious? What would you do? + +Edited to add: I forgot this bit, but my husband currently works from home which we love love love having him around all the time. However working remotely would not be an option at the startup, so he’d be looking at a commute up to an hour each way every day which we don’t love + +Edited to add #2: wow, thank you so so much for all the input! I didn’t expect this to blow up so much and I really appreciate each and every point that’s been made. If you couldn’t already tell from the tone this post had, I’m personally not at all on board with this potential move, and the responses here have given me a lot of validation for feeling that way. I’ll be showing my husband this thread later and I know he will appreciate all the input too! + +Also LOL: between my pregnancy and my toddler my brain isn’t the most on point these days so thanks for the many reminders that Silicone is much different than Silicon! 🙃 +I have 5 credit cards my wife and I are paying off. My two lowest cards are a $750 card with no interest for 14 more months, and the second is a $2,000 with a high interest rate (I can’t find the exact APR right now but every time I pay $50 it goes up $28 in interest). Would it be a better idea to start hitting the $2,000 card hard first, or the $750? +Just posted a new blog that is copy & pasted below covering 10 of what I believe to be the most important day trading rules! Give it a read & let me know your thoughts: + +Successful day trading comes with a long list of rules and disciplines. It can be overwhelming for new traders and can lead to the *"winging it"* mentality or just following alerts from other traders instead of ever actually learning how to trade themselves. To help some new traders avoid from doing this, I put together this list of 10 day trading rules beginners need to know and should live by. These 10 rules should be a good foundation to build your research and trading strategy off of. I, of course, can't say these rules with guarantee day trading success, but they will certainly increase your odds of it! As a full-time day trader myself, I still use a majority of these rules daily and am confident I would have became profitable in a much shorter amount of time if I had followed them when I first started trading. + + +**#1. Avoid Leverage** + +Leverage allows traders to open a position with more money than they have in their account. Depending on which broker you're using and what kind of stocks you're trading (penny stocks or blue chips), you may be able to use no leverage at all, 2x leverage, or even 4x leverage. What this means is that if you have $10,000 in your trading account that offers 2x leverage, you can use up to $20,000 to trade with, borrowing the additional $10,000 from your broker. + +The obvious attraction to leverage is the ability to trade with more money and potentially make larger profits than you'd otherwise be able to. However, the extra profit potential also comes with extra risk. Larger-than-usual losses are common when inexperienced traders use excessive leverage. In my opinion, leverage should generally be avoided in the stock market and should be left to other investment types, such as real estate. + + +**#2. Use Limit Orders** + +Limit orders allow traders to get their orders filled at their defined price or better. They especially useful when basing trades off of technical analysis. For example, you may decide to place a limit order to buy a stock at $10.05 if you see a major support level at $10.00 that you expect the stock to bounce from. If the price of the stock never reaches your limit price then your order will never be executed, which is okay because you only want your order filled at the best price with the highest odds of profitability! + +On the other hand, limit orders differ from market orders because market orders are filled immediately at an unspecified price, often leading to a poor fill price. In my experience there are very few situations where you would need a market order to either get in or out of a position immediately. + +**#3. Stop Blindly Following Alerts** + +At this point, I'm sure you've come across some of the countless *"alert services"* claiming to predict all of the biggest runners in the market with members following these alerts and making thousands and thousands of dollars. I get it... it can be tempting. The idea of not having to learn how to trade on your own and simply following the alerts of someone that claims to be a millionaire day trader is what attracts so many new traders to these services. If you're tempted by this, I have a question for you: Can you name a single treader that became wealthy just from following alerts? Of course not! + +Now, there may be some successful traders that started off following alerts, but somewhere along the way they realized there's no longevity in blindly following alerts so they ended up learning how to trade on their own anyway. You might as well skip straight to studying and prevent yourself from following *"alert services"* that ultimately only benefit one person... whoever runs the service. + +**#4. Expect Losses** + +You will lose money. Even the best of the best take losses. It's not necessarily about how much you lose, it's more about how you handle those losses and if your profits outweigh your losses or not. Although we getting into every trade expecting a profit (*otherwise, why would we enter the trade in the first place?*), we also have to equally expect and prepare for the trade to be a loss. + +Expecting a loss beforehand makes it easier to handle and manage the loss when the times comes to do so. You'll find it easier to cut your loss when it was something that you already thought about and planned for before you opened the position. In other words... *"plan for the best, prepare for the worst."* + +**#5. Have A Plan** + +Having a plan goes hand in hand with day trading rule #4 of expecting losses. It's one thing to have an idea of where you're going to lock in profits on a winning trade, but it's a whole different story to have a full trade plan before even entering the position. This plan should really consist of 3 things: a profit target, risk level, and max position size. Your profit target and risk level can often be based off of simple technical analysis. For example, if you buy a stock at $10.05 because it has support just below at $10.00 that you expect it to bounce off of, you could set your risk level just below support at maybe $9.90 in case it fails to bounce from support as expected. + +On the other hand, in the same example there may be a major resistance level at $10.35 so you set your profit target just below at $10.30. In this case you would be risking $0.15 per share to potentially profit $0.30 per share, which give you a 2-to-1 reward to risk ratio! + +To take your trade plan a step further, you can also use your risk level to determine your max position size on the trade. If in the example above you decide that the most you're willing to risk on the trade is $150, you know that your max position size is 1,000 shares since you'd be risking $0.15 per share. + +**#6. Manage Risk** + +If you've been studying how to day trade you've probably come across this type of rule a million times by now... and rightfully so! Although these rules are really in no particular order, managing risk is easily one of the most important factors in successful trading. Without proper risk management you can be right about 99% of your trades, but can still be a losing trader because of large losses that wipe out days, weeks, months, or even years or progress. + +If that situation sounds familiar, don't worry because it is something that every ew trader deals with. Unfortunately, there's only so much that can be done to help you avoid this. You've now read about its importance and I've taught risk management in much more detail here at Master the Market, but it's up to you to actually do it. It's important to really focus on this rule early on in your trading career, because it's often too late for traders that learn learn this rule the hard way. + +**#7. Don't Fight The Trend** + +*“Follow the trend, the trend is your friend.”* \- Jesse Livermore (multi-billion dollar stock trading legend) + + +One very common *"strategy*" I see new traders take on is buying stocks that have gone down *"too much*" with the expectation that they're bound to bounce in the near future. This strategy is comparable to trying to catch a falling knife and will usually lead to your portfolio bleeding out. Don't get me wrong, buying undervalued stocks that are showing either technical or fundamental signs of strength can be a great way to get in at the bottom of a move. + +However, fighting against a stock in a clear downtrend by buying without a clear sign of reversal is a battle that will rarely be won. Instead, even though it may sound contradictory, consider buying into a stock's trend. This means buying into a stock that has already began moving up in order to take advantage of its continued momentum. You will never buy at the exact bottom with this strategy, but it's also a much more realistic strategy that doesn't require you to perfectly predict a reversal in a stock. + +**#8. Don't Use The "Hope & Hold" Strategy** + +One thing we've probably all been guilty of at one time or another is holding onto a losing trade for an extended period of time for no valid reason other than our hope that it will become profitable. This situation usually begins with what was suppose to be a day trade, but ends up being a longer-term investment. I know... easier said than done, but it's always best to simply cut your losses and move on that it is to hold and hope for the trade to turn around and become profitable. + + +Not only does holding onto a losing trade create major additional risk, but it also ties up your money and prevents you from taking profitable trades elsewhere in the meantime. + +**#9. Find YOUR Niche** + +One thing you'll probably notice about every great trader is that they have their own niche in the market. Whether it be dip buying, momentum trading, reversal trading, short-selling pump and dumps or anything in-between, there's a trading strategy for every type of trader! Instead of trying to spread yourself too thin, focus on only the type of trades that have worked best for you in the past. + + +By doing this you'll cut out the trade types that have generally created the most risk for you, and you'll most likely improve your trading accuracy by only taking on the best setups. + +**#10. Take A Break** + +Last but not least... take a break! Trading can be mentally exhausting and it's important to have a clear head before every trade. It's especially important to take a break after a large loss. This is when it's very easy for a trader to trade based on emotion rather than logic or strategy. By taking a few days off, you can move past your loss and get back to the market with a better mindset. + + +It's also a good idea to take a break on days where there aren't A+ setups that fall into whatever your niche may be. If you stick around on these days there's a good chance you'll end up forcing a trade and taking an easily avoidable loss. + +&#x200B; + +**FULL BLOG:** [https://masterthemarket.teachable.com/blog/220543/10-day-trading-rules-to-live-by](https://masterthemarket.teachable.com/blog/220543/10-day-trading-rules-to-live-by) + I am currently writing my master thesis in Finance and thinking about including the fear and greed index in combination with a trading rule. Unfortunately I can not find any data, besides graphs. + +Does anybody know where I can get historical (CSV/Excel) values for CNN's Fear and Greed index. + + [https://money.cnn.com/investing/about-fear-greed-tool/index.html](https://money.cnn.com/investing/about-fear-greed-tool/index.html) +[Look at this total bullshit.](https://robinhood.com/us/en/support/articles/changes-due-to-recent-market-volatility/) + + +I've commented before about what trash this company is, and what trash their fucking app. is. + +This is the equivalent of telling you that now you're only allowed to sell, not buy, because Citadel got on the wrong side of these trades when you made them. + +Robinhood does not send your trades to the exchange. They send them directly to Citadel or one of three or four other market makers. You're betting directly against Robinhood when you use it. They clear their own trades. + +It's a total sham, and they are exactly the antithesis of what they bill themselves as. They are designed for these big money players to make money, and for you to lose. + +Get a fucking Fidelity account. They send your trade to the exchange, and pay for that. They don't get paid for order flow. They're not on the other side of your trade, so they have *no incentive* to tell you that you can't buy something, *because they need you to sell it to them, instead*. +BEIJING, July 4 (Reuters) - China's cyberspace administration said on Sunday that it had ordered smartphone app stores to stop offering the ride-hailing firm Didi Global Inc's [**(DIDI.N)**](https://www.reuters.com/companies/DIDI.N) app after finding that Didi had illegally collected users' personal data. + +The Cyberspace Administration of China (CAC) said on its social media feed that it had ordered Didi to make changes to comply with Chinese data protection rules. It did not specify the nature of Didi's violation. + +Didi responded by saying it had stopped registering new users and would remove its app from app stores. It said it would make changes to comply with rules and protect users' rights. + +Didi's app is still working in China for people who have downloaded it already. It offers over 20 million rides in China every day, on average. + +Chinese regulators have tightened data collection rules for major tech firms in recent years. + +CAC on Friday announced an investigation into Didi to protect "national security and the public interest", two days after the firm began trading on the New York Stock Exchange. [**read more**](https://www.reuters.com/technology/china-cyberspace-administration-launches-security-investigation-into-didi-2021-07-02/) + +Didi, which offers services in China and more than 15 other markets, gathers vast amounts of real-time mobility data every day. It uses some of the data for autonomous driving technologies and traffic analysis. + +Founded by Will Cheng in 2012, the company has already been subject to regulatory probes in China over safety and its operating licence. [**read more**](https://www.reuters.com/world/china/riding-hailing-giant-didi-says-it-stores-all-china-user-data-china-2021-07-03/) + +Didi had set out relevant Chinese regulations in its IPO prospectus and said: "We follow strict procedures in collecting, transmitting, storing and using user data pursuant to our data security and privacy policies." + +&#x200B; + +Source: [https://www.reuters.com/world/china/china-cyberspace-agency-says-didi-illegally-collects-user-data-2021-07-04/](https://www.reuters.com/world/china/china-cyberspace-agency-says-didi-illegally-collects-user-data-2021-07-04/) +Here's the [WSJ story](http://www.wsj.com/articles/snapchat-parent-working-on-ipo-that-could-value-company-at-25-billion-or-more-sources-1475778314) with the following figures: + +|Snapchat|2015A|2016E|2017E| +|:---|:---:|:---:|:---:| +|Revenue | $60m | $250-350m | ~$1bn | + +## GOOG + +So what did Google look like in it's early years? + +|Google|1999A|2000A|2001A|2002A|2003A|2004A|2005A| +|:---|:---:|:---:|:---:|:---:|:---:|:---:|:---:| +|Revenue | $0m | $19m | $86m | $440m | $1,466m|$3,189m | $6,139m| + +The IPO was in August 2004. It was values at $23bn in the IPO. + +## FB + +Next let's look at Facebook, whose IPO was in May 2012 valuing the business at $81bn + +|Facebook|2009A|2010A|2011A|2012A|2013A| +|:---|:---:|:---:|:---:|:---:|:---:| +|Revenue | $777m | $1,974m | $3,711m | $5,089m | $7,872m| + +## Well? + +Both Facebook and Google were profitable at the time of their IPOs and they had shown an acceleration in their revenue growth. This got them 5 to 10x next year's forecast revenue, and 7 to 16x current year's forecast revenue. + +For me the key is proof that the topline in accelerating. Google's top line accelerated every year until the great recession. Facebook's stopped immediately after the IPO, crashing the stock, until the topline started ramping again in 2013. + +## A Rocket or Rock? + +If Snapchat's sales follow this path, then a $25bn will be a steal. If not, it'll be another Twitter. + +|Snapchat|2015A|2016E|2017E|2018E|2019E|2020E| +|:---|:---:|:---:|:---:|:---:|:---:|:---:| +|Revenue | $60m | $300m | $1bn |$2bn |$3.5bn |$6bn | + + + + +## EDIT: + +If you're curious on the stats for Twitter, it IPOed in Nov 2013. It's sales had been accelerating. The business was valued at $14bn, i.e. 10x the forecast year's sales. + +|Twitter|2010A|2011A|2012A|2013A|2014A|2015A| +|:---|:---:|:---:|:---:|:---:|:---:|:---:| +|Revenue | $28m | $106m | $317m | $665m | $1,403m|$2,218m| + +And for 2014, things were fine with sales more than doubling. Sadly it was 2015 that the growth slowed. +one of my favorite newsletters + +&#x200B; + +[https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/eye-on-the-market/outlook\_2021\_amv.pdf](https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/eye-on-the-market/outlook_2021_amv.pdf) + +&#x200B; + +couple interesting things: + +&#x200B; + +*It’s worth noting that 90% of S&P 500 market cap is now based on intangible assets (R&D, intellectual property, software, etc), complicating historical comparisons. P/E ratios of the asset-heavy US corporate sector of the 1960s-1980s might not be the best comparison for today’s asset-light, less capital-intensive S&P 500 universe. Intangible asset shares were 20% in 1975, 30% in 1985 and 80% by 2005. So, some upward drift in S&P 500 P/E ratios over time makes sense, in principle.* + +\-China/USA military comparison + +\-2008 vs 2020 and 2000 vs 2020 comparisons + +\-antitrust issues and potential risks of Big Tech + +worth the time +2022 was quite the different year than 2021. Going into 2022 everyone thought the bull run would not end, but due to record inflation and interest rate hikes the SP500 is down \~19.85% year to date. Based on the Fed we know we will still see some interest rate hikes, but not too the extent of what they were in 2022. So what is your prediction for 2023? + +What stocks will perform the best (excluding penny stocks)? + +What is your prediction for where the SP500 will end next year? Do you think it will continue to decline or will we go into a bull market? + +What is your plan for investing this next year? Buy high and sell low. +Less than 20% of Bitcoin Foundation members will be eligible to vote due to a new requirement that members "activate" their accounts. Even if they are candidates, current board members, regularly participate in the foundation message boards or are actively involved with the foundation. Even those who just joined within the last month would not be able to vote unless they performed the additional step of "activating" accounts. + +Even less than this 20% will actually vote. +Even several candidates are not eligible to vote because, like many people, we were not aware of this new requirement. I did certify my candidacy and also sent a written form to the Foundation and made sure I appeared on the roster of life members and that my forum registration was active. +No one publicly knows who the actual tiny number of 364 people who are eligible to vote are. + +The requirement to activate accounts was not announced on the Bitcoin Foundation home page (nor was the election itself!) or on Reddit or on Bitcoin Talk, two of the most popular industry news sources. As far as I can see, no press release was issued. It was only announced on the proprietary Bitcoin Foundation message board which typically has roughly a dozen active members and a few posts a day and by email which is easily missed or filtered as spam and on GitHub which had 4 or so comments. +I don't think the announcement of this was done in a fair manner and therefor the election results will not reflect what actual members wishes. + +I have no idea what the odds of any candidate are. I can be certain that many longstanding members who have told me they would vote for me are not going to be allowed to cast a vote and I'm sure it's the same for other candidates. + +If by some chance I am elected by the small number of unknown people who are allowed to vote then I pledge to work to improve transparency and ensure a more fair system in the future. + +The problem is not the rule or the procedure but the poor communication around it. +I have a job that pays enough for me and my life but I just found out that my little cousin is going into the foster care system. I love him to death and know that I would provide a safe and caring home for him but money is tight. I will get a small stipend from the government for having him but obviously it won’t be enough to provide everything for him. Any advice would really help. It’s always been me against the world so switching to this mindset of having someone rely on me is consuming all of my thoughts. +As the title says, should I keep $100,000 in a major chain bank, or a smaller credit union? Are there pros and cons to each? I'm guessing the interest would be better at the credit union, but maybe the security of the big bank would be better? +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +In 2010-2011, hard to remember, I bought approximately 120 BTC for Runescape gold. + +I believed to have about approximately 50 left, but I cannot remember at all what I did with them. I was a teenager at the time. + +I just want to throw this out to anyone who thinks A. Any amount of bitcoin is insignificant and B. Make sure you have all of your wallet info fully addressed and secured in your possession. +The New York Fed released a report earlier this year showing an [increase in US household debt](https://www.newyorkfed.org/newsevents/news/research/2018/rp180517). + +Not too shocking given a healthy economy for the better part of 10 years. Consumers usually relax their frugal muscles after awhile and swap long term memory for short term. The report has some interesting takeaways though. The most jarring of which has to be the student loan numbers. Many of us know how serious the situation has become recently, anecdotally or otherwise. + +Student loan debt is now accountable for $1.41 Trillion of US household debt. That's second only to mortgage debt ($8.9 Trillion). The really fun numbers come into play when we look at the percentage of loans in "serious delinquency". This indicates loans that are more than 90 days behind, which applies to 8.9% of student loans. Almost 9% of these non-dischargeable, tax-payer backed debts are significantly behind. + +Roughly half of SL debt is in deferment currently. Meaning, 8.9% of the total outstanding is seriously delinquent but roughly 17.8% of those in repayment meet this criteria. + +If any other part of our financial system had an almost 1/5 chance of being in serious danger of recouping its outlay, it would be a national crisis until it was fixed. This report highlights a few key stats to keep in mind about the current state of American households, the most glaring being that the 2nd highest contributor to personal debt is seeing consistently terrible repayment figures. + +We'll have to wait and see how this works out. The numbers have been worse in past years but touting that is like being proud that you put out 10% of a fire. Depending on the situation, there could be serious economic implications for future portfolio returns if catastrophic failure occurs. +Capitulation....that point where no matter how low the price dips, people will come out and tell you "it will probably go even lower". + +Even people who used to be bullish. + +&#x200B; + +https://preview.redd.it/dd587er72i591.jpg?width=360&format=pjpg&auto=webp&s=5222a022b79e765365f90c1d0da53e85be4a27f8 + +The confidence in the market and in the price holding up has faltered. And now it's no longer "we'll probably crab at $30K" or "$28K still has good support". + +That has changed to "I'm just waiting for the drop below $20K" or "it might even dip below $10K". + +And how many times has the suicide hotline been posted now? I almost know the number by heart now. + +&#x200B; + +[Here's what the last capitulation looked like.](https://preview.redd.it/6rj1tagtuf591.jpg?width=1896&format=pjpg&auto=webp&s=9361989a2d19f3d6eb29a176e46e84079dfd1b81) + +I remember when we dropped below $4k in 2018. + +While it's beginning to smell a lot like the same capitulation, this doesn't mean it's the full bottom yet. + +It was reeking capitulation when we dropped below $4K, and we still continued all the way to $3.2K. But at the same time, the drop was fueled by a Bitcoin selloff from the Hash war. + +We aren't fueled by any huge sell-off from a Hash war this time. But there is the fuel from inflation fears, and a little of CEL fear added to that. + +And a better log chart, shows that if we follow 2018, we probably still have a tiny bit more bottom to make. + +&#x200B; + +[Log chart comparison of capitulations, with moving average ribbon.](https://preview.redd.it/knv7almjvf591.jpg?width=1380&format=pjpg&auto=webp&s=27088843452ab3137959f8c24ec8bac2aabe8253) + +When we capitulated in 2018, it seemed like the drop was never gonna end. Any optimism was gone. Even when we dropped below $3.5K, people were talking about "it will probably go lower than $3K". + +Even bulls were saying that. + +In fact the difference between bulls and bears, is bulls believed it would drop to only $2K, while bears believed it would drop to $200. + +Today, it's starting to look like we have 2 camps: the bulls who believe the bottom will be somewhere below $20K...maybe around $15k. And the bears who believe it will go even lower than $10K. + +But let's not forget about one important thing. + +The market movers, the whales, big players, with their quants and bots, are still playing the market, and they are still interested in making money. And just like after every major crash we've had in the past, there is a period of accumulation. Because people never run out of desire to make money, especially not in this crazy and volatile market. + +Volatility and chaotic markets offer the biggest opportunity to make money. And right now, this one is deep in fear and with lots of blood on the street. + +And perhaps, like the stock market, everyone is holding their breath right now for one little thing: whether this week, Jerome Powell will talk about .50 or .75 basis points. + +That could be the difference in how bloody the rest of June will be. And if crypto will go much lower or not. +You would have taken great profits and also been able to buy back at a lower price. + +I know that no one can time the market or predict it, but you simply can’t expect for prices to keep going up infinitely. At some point you’re gonna have to make the decision of taking profits and reinvesting later on when prices are down. + +If anything, this will give you the ability to change strategies. I actually sold around 55k and slowly started seeing that Bitcoin isnt the right investment for me. + +I started staking and went heavy on DeFi projects like AAVE since they’re the best at lending (which gave me a lot of leverage)and new ones like BitDAO which have the largest treasury in the market so the governance power behind it was strong. + +TAKING PROFITS IS NOT SHAMEFUL. +I don’t know why this sub treats it as a sin. Its actually smart to sell if you make an educated decision as to when. + + +Smart Money makes you money. + +This is not financial advice. DO your own DD. + +Look before I get into it, when I pick stocks I like to see what institutions own them to see if there is smart money in there… eg Cathie wood, Michael Burry. + +The Stock I am talking about is CVS… + +Well, I couldn’t believe my eye balls when I saw the OG GOAT- Dr Michael Burry had 10% of his portfolio in CVS. + +A lot of people ask for DD on stocks that haven’t done 100%+ in the last month. Well this is it and I am about to go down a rabbit hole on this one. Strap in. + +\#1 Covid Vaccines- there is a potential for CVS to open up a section of there locations to administer Covid Vaccines after the increasing pressure on current administers. Meaning money from the government to cover this. Secondly, Have you ever gone to CVS and just picked up your meds? I sure haven’t. I leave with that much Sh!t I didn’t need its not funny. SO imagine more foot traffic and more random impulse purchases. Like “Oh wow, my wife’s boyfriend could use these 10 packs of Gatorades and vibrating Cuck Ring”. So, increase in sales + +\#2- Fundamentals- skip this is if you don’t believe in the F word. + +· According to a number of research houses it is trading roughly at a 50% discount to it’s fair value + +· PE Ratio is 11.9X which is lower than the industry average of 19x and Market 25x + +· Future earnings estimated to grow at 9% on current conditions + +· Long term Assets $173.68 B vs $101.74B Liabilities + +· \*Concern over short term assets $59B vs Short term Liabilities $62B + +· Debt has been reducing since 2019 (not bad during a pandemic) + +· Interest payments on debt well covered by EBIT (6.4x) + +· Dividend pay out that has been stable and Is well covered by earnings + +\#3 New CEO Karen Lynch- I am not going to put her whole credentials in but it is quite impressive. There are many indications that she wants to revamp to the traditional offering- with the likes of delivery services and further unique ‘in house’ offerings. + +\#4 Institutional Ownership + +· Vanguard $6.4 B (8%) + +· BlackRock $5.6 B (7%) + +· State Street $3.4B (4%) + +· Capital Research $2.8 B (3.5%) + +· Morgan Stanley $1.5B (1.8%) + +\#5 Bureau of Healthcare working on their side + +Amazon’s disruption is still quite some time away as- it will still require doctors to designate it, and patients to request it, when writing prescriptions. At some practices, switching prescriptions from one pharmacy to another has to be done during an office visit -- and many patients are avoiding those for now. + +\#6 More than a Pharmacy + +· Aetna – Health Insurance plans + +· Minute Clinic- providing access to doctors within or close to their stores + +· CVS intend to add dietitians and yoga to their locations along the lines of their healthhub + +· Potential Vaccine Adminsting stations. + +Earnings are expected on the 16th of this month. It’s not looking like they are going to shoot the lights out but this has been factored in. + +TLDR + +· High Ownership from mutual Funds + +· 10% of Michael Burry’s portfolio + +· Potential to be the location and service to administer the COVID vaccine. + +· In house Doctors to prescribe medication (Amazon still requires visit to the doctor) + +\- A company that is resilient and continues to find a way to keep moving forward + +My Position - 140 shares held (New portfolio after buying my house). + +Edit - mandatory 🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +Also, concern over my account age- I have been a lurker for 2 years. Really loved WSB; saw the trash of DD in the last 2 weeks and thought I’d try to begin a change back to the norm, but had to create an account. + +To confirm I’m not a boomer- at the age of 10 I cried during the Pokémon movie when Ash Died. +So Ryan Cohen originally purchased his 12.9% stake in Gamestop at $8.43 per share average. Based on the current price, this is about a 2300% profit. + +Per his contract as a board member, he cannot own more than 20% of the company, leaving him with 7.1% company stake remaining he is able to purchase, or roughly 3,900,000 shares. + +So let's say he sits and waits till this Friday, when MMs continue to move the price toward 155 (current calculated max pain price for options on 3/19). He then files a 13F, and buy's up 3.9 million shares...this would still put his profit average well over 1000%, AND would blow MM's attempts to pin the price out of the water, triggering a gamma squeeze...this creates massive margin calls by Tuesday 3/23, which coincidentally happens to be when GME reports earnings. The convergence of these two factors in addition to hype momentum ***could be enough*** to then trigger the MOASS imo. Thoughts? + +Not financial advice, I like the stock. +Hypothetical question, and probably a realistic one to those who have done it (but they would have no control group): as a percentage of your FIRE amount, what do you think a couple needs. E.g. So if I need 100%, my spouse and I, living as a couple, would likely need 175% of my FIRE amount. Assuming we both earned the same. Hopefully the answers are not "too many variables". I basically want to see how much sooner 2 people could fire than 1. +When the company has good news short the stock when the company has bad news buy the stock. If a company finds a cure for cancer, definitely, sell the stock and when an old film making company gets a tentative loan from the government to make some shit they probably don’t even make yet. Buy buy buy! +I'm in SNDL for 1000 at 0.67. Other subs seem pretty into but haven't seen much here in a while. Wondering what you guys are doing in the weed field. APHA? TLRY? YOLO? +Do people understand DogeCoin is highly concentrated with 27% of the supply held in a single address? + +Warning: Dogecoin, the coin that Elon Musk likes to pump is highly concentrated with one address owning 27% of the supply. + +You read that right, a single Dogecoin address is holding 27%: + +https://decrypt.co/56616/what-we-know-about-the-dogecoin-address-that-holds-27-of-its-supply + +This goes against cryptos general decentralization efforts and has even prompted the CEO of Binance to raise some concerns: + +https://twitter.com/cz_binance/status/1357259732000538628 + +“Risks: +1 address holds 27% of all #DOGE. +Top 20 addresses holds more than 50%+ of all #DOGE +Kinda "centralized" in that sense.” + +It is not entirely clear if this address is abandoned or active, but it raises legitimate concerns about a super-whale cashing out and becoming a fiat billionaire, as well as leaving many crypto enthusiasts holding the bag. If you invest in dogecoin, invest with this risk in mind. +I don't even need to say any context to the title, if you are smart enough you will crack it! You can't even call it an FUD anymore. +This is going for a huge mess and the market has fluctuated to dump huge way. +Nobody knows how this will go overtime, and this is my advice that look for market to recover, DO NOT blindly buy into the market right now, save your capital wait for the market to stabilize, it doesn't matter if you think this is the bottom, this is the bottom, + + +People who have enough money can throw around but this is for those who have limited capital +Stay away from buying in at this moment! +Patience is the key just save it up! +Wait for your moment then go for it! +Hey Folks! + +So, I have a question for the PF minded among us as to if this is a good idea or not. I live in a neighborhood that was a development about half an hour outside a major metropolitan area where the houses were all built in the early 2000's (2004-2006 right before things went sideways). About 3/4 of the lots in the area had houses on them when the market tanked, and the remaining 1/4 have slowly been building up as time goes on. + +To put it into perspective, this is all SFH's on 1/4-1/3 an acre, usually a split or modified split with a 3 car garage and 3-5 bedrooms, 2500 square feet. Average home price is currently about 210k, and the market is pretty decent right now. + +Anyway, the last few lots in my neighborhood have now all been built on except for one more which is situated directly across the street from me. I have a 7 year old son and within a block of me we have about 10 more kids 6-9 who all are friends and play in the area (at someone's house or in the yards or whatever... it's very much that 60's style "Go play I'll call you in for dinner" sort of thing). + +I'd like the lot across the street to stay empty, as it's fairly centrally located and they kids run through there all the time, and play kickball and things there all the time now. + +Is an empty lot at all a decent idea to purchase? I don't intend on doing anything with it other than keeping it mowed, and maybe get a bigger play system (think rainbow play system or something) for all the kids to play on. + +It's not really a question of whether I can afford it, but I'll give you the rundown on numbers anyway: + +Only debt is my house, I owe 230k at 4.25%, house is worth 260 conservatively. + +Income is 120k salary a year, 30k stock (at current market value) per year. I currently max a 401(k), Roth IRA (backdoor), max an HSA, and have a relatively decent amount going to a 529 until it's funded to my satisfaction. I have 4 months emergency fund in liquid assets, and about 40k in brokerage. + +Lot would be a 25k or so purchase. + +AND SO THE QUESTIONS: + +Is this a stupid idea? + +Can you take out a mortgage for a property you have no intention of homesteading? + +Would it make sense to pull money out of the market and drop into the property? I don't have much portfolio exposure to real estate... that could help that? + +Thanks for looking/any answers I can get. + +EDIT: Thanks for all the awesome replies folks! I'm going to be going through and replying to a lot of folks one-off, but wanted to put this up here as well. + +The lot is not currently for sale. It is held by a private owner who bought the lot from the original developer with the intention of building a house, then when the market shit itself he never ended up building. I haven't spoken with him yet, but I intend to approach him after I get all my ducks in a row. + +There is no HOA or restrictions on the property from what I've been able to gather. The neighborhood originally had several covenants when they initially purchased the lots from the city, but the original developer went bankrupt, and the city re-zoned a lot of things and as of now, from the City's perspective, leaving it empty would be just fine. + +RE: Insurance. I called my agent this morning and inquired as to this, and they recommended an umbrella policy similar to what many below have suggested. Given my gradually growing assets and things, I went ahead and took out a policy for $1mm in coverage, which can be extended to include the lot across the street. It's only like $50 a year over my current insurance bill, so it seemed like a no-brainer. + +Thanks everyone for the awesome responses, it's been awesome to get some perspective :) +First, what is a short? + +The first concept to understand is you **sell** to **open**, and **buy** to **close**. + +Your brokerage will lend you x amount of shares and sell them on your behalf on the market. That you is **selling** to **open** the short position. + +When you cover your position you **buy** to **close** the position. +Let's say you short GME at $15.80 for 1000 shares and the price drops to $12. You would borrow 1000 shares from your broker that are sold on the market at $15.80, you decide to close your position at $12 where you would then buy those 1000 shares at $12/share and give them back to the broker. You would profit $3.80/share so $3800. + +But what if the price goes up? Well, you have **cover** that position. So if you short GME at $15.80 and it goes up to $16.20 you are already in the hole $0.40/share. + +**Key Point:** Shorting happens on a **margin** account. That means, it's not actually your money either. It's the brokerages. If you are losing enough money you will go into what is called a **house call** which essentially will force you to cover your position. + +Moral of the story, if you drive the price up, you will force short positions to either cover or double down. +The case of GME is extremely interesting because there is over 100% short interest, meaning there are more shorts than actual volume. + +THIS is what causes a short squeeze. This is also why you can't expect it to happen over night. + +Short Position A might be Bob from Kentucky who has a $350,000 margin account and he shorted at 15.80, once it gets to 16.50 we wants out because he's already losing so much and it's not worth the risk. + +Short Position B might be Bank of A lot of Power who has a $4BN margin account and can wait years for it to fail, so they have no need to cover their positions unless it's looking really bad long term. (Like if this Cohen thing happens) + +As shorts cover their positions, they are forced to buy at a higher price than they shorted, driving the stock price up. This will lead to more short positions covering driving the price up some more, leading to more short positions doing the same. All the way up to the whales who have massive short positions. + +GME has over 100% short interest, has formed a cup and handle, and the potential Cohen takeover is right around the corner. A squeeze will happen. + +Hope this helps! + +EDIT: + +Regarding GME specifically. The earnings call on 12/8 has two possible outcomes. + +1. Cohens letters are addressed and either GME begins moving forward and meets his demands or he gets a controlling position in the company. + +2. Cohens letters are ignored. + +If case 2 happens there are two possible outcomes. + +1. Cohen initiates a hostile takeover +2. Cohen gives up the fight and sells his shares (this is the risk of this play, every other circumstance leads to a squeeze, this one leads to the shorts winning and GME heading for the toilet, however this is unlikely, it’s not like GME wants to go out of business, so it’s very unlikely Cohen and his public letters are ignored) +https://imgur.com/gallery/1VasX0T + +If I had been wrong about these picks I can only imagine the amount of posts that would be created making fun of me and my watch list. Instead I was right and everyone is silent. + +When I first posted the watch list people mocked my picks and told me to give up trading. Honestly it started to get to me, I have lost almost all my money, maybe I am a bad trader.. + +But I’ve proved myself. I think one person mentioned that “wow you flipped a coin 4 times and got heads” -well now I’ve flipped the coin 8 times and I got heads 7 times. How can 7 correct picks possibly be a coincidence? + +I feel that a lot of you guys just downvote my stuff because you assume everything I say is wrong or stupid. That’s not always the case and you shouldn’t act like you know with such mocking arrogance. + +I am not delusional. If my watchlist had gone tits up I would 100% admit that I’m a bad trader. However I put in the work for these picks. I spent hours reading news and looking at spread sheets. The work paid off and I was right, if you did my plays right they would’ve net you 100% gains. + +I realize when you look at the picture my gains are small. That’s because I’m using all the money I have left. I do have skin in the game though and I’m not a paper trader. I would’ve bought closer in the money calls however they were too expensive, that’s why my gains aren’t all 100%’s. + +I have an ultimatum, I will release another watch list and if that fails I will quit trading. Maybe it is all a coincidence and I got lucky. Next week I will prove without a doubt that I am a good trader. I don’t mean to be boastful when I say this, I get it, I’m no warren Buffett. However this next watch list will prove that I’m a good trader. + +Many people have asked, why am I so dead set on proving myself to a bunch of autists? I want to end this group think crucification of me as an idiot, gambling addict. I have the right defend my point of view. The current public opinion of me is false. I aim to show people the truth. +Since last December I've been getting irregular deposits into my checking account in different amounts totaling more than $4,000. The payment's description is "FIS_Prepaid Card Funds Trf". I've contacted my bank a number of times, but they say they have no information beyond the transaction description. I looked up FIS's number and contacted them, but they said they have no information and can't look up the deposits. + + +I have only one credit card and one debit card through my bank, and I've those that exclusively for the last 8 years. Before that I had an account with Wells Fargo. I've never had a prepaid debit card that I can remember, and certainly not one with $4,000 left on it. There have been no disputes of any charges on a debit or credit card in the last year, and I would remember anything outstanding for this much money. + + +I am being careful not to spend the money, since there is a good chance this is a mistake. Having to keep track of how much of my account balance is untouchable is annoying. How can I find out where this money is coming from and why? + + +The deposits don't seem to follow a pattern: + +Dec 19 - $1101.85 + +Dec 27 - $767.60 + +Jan 25 - $493.25 + +Mar 22 - $1739.86 + + +Edit: Thank you for all the advice, knowing what to ask and where to ask it should help! I'm going to pressure my bank tomorrow and ask for the full ACH deposit instructions and see if that leads somewhere useful. I'll try the FIS EFT Investigations division next. If that fails I'll ask my bank to open a fraud investigation and send them a **certified** letter. + + +**Final Edit**: The FIS phone number led nowhere. If you want to run around a hilariously automated system with no exits, I recommend it. Thankfully, my bank was more helpful. Once I started asked for ACH transaction details and the ID of the sender and stated they must have it, I was transferred to someone able to look up that information. They gave me a new company name (not FIS) and a trace number. Thank you /u/UGetDatThingiSentYa for the correct terminology! The new company was able to tell me the source of the payments and sort everything out. Thank you to everyone for the help, I had no idea this would be so popular! +I'm the author of "The Military Guide To Financial Independence And Retirement". I retired from the U.S. Navy's submarine force in 2002 at the age of 41, and I've enjoyed 15 years of being responsible for my own entertainment. + +I started my Navy career in 1982 with the typical submarine junior officer career. I made the cut for XO but never got the call, and I spent the rest of my career at training commands. My spouse (a retired Navy Reservist) and I have lived in Hawaii since 1989. Our daughter's born & raised here and now she's in the Navy. I enjoy writing, surfing, reading, surfing, DIY home improvement, surfing, personal finance, and slow travel. I also surf a lot. +I wrote the book with the help of over 50 military servicemembers, veterans, and families. (Look for it at your local military base or public library.) I donate all of my writing revenue to military-friendly charities. Today I'm slowly working on a guide for military families on making good decisions with insurance. +I have been dismayed to see the vitriol and bitterness caused by some shills and bots. Apes are one family and even though some of us may disagree on the value proposition of AMC or GME business model, we are united in our cause against FUCKERY in the stock market. + +As such, I have hit the buy button earlier on at an average price $159 to HODL. There has been some ongoing discussion on the merits of buying GME over at r/amcstock and I believe some of the AMC apes will be initiating a position on GME as we STRONGLY believe there is some co-relation in the price movement of both stocks. + +We are against the hedgies who have taken us apes and retail investors for a ride. WE STAND TOGETHER AS ONE to oppose them. I will always be on the side of Apes! GME TO THE FUCKING MOON🌒🌒!! 🦍💎🙌 + +Yours sincerely - +An AMC Ape🐒 +Hi, firstly, I realise this might be an extremely stupid idea, but want to ensure that I'm not missing anything. + +1. I have emergency fund built for c.3-4 months already. +2. I have left £6k on my student loan, earning £50k per annum. +3. I have platinum cashback AmEx with £12k credit (0.75% up to £10k and 1.25% over £10k spend per annum). + +Is it even possible, and if yes, is it a good idea to use some of my credit to pay off some or all of my SL with this credit card? + +Around £200 is taken each month off my salary to automatically pay off student loan, and I don't currently overpay anything on top of that. I used to, but I stopped and concentrated on building emergency fund first. + +I'm able to save c. £1000 per month quite comfortably, if that makes any difference. +As the title reads, I am buying a new home and can put down 10% or 20%. The reason I am wondering is because I HATE paying money when I shouldn't have to, and if I put down 10%, I will have to buy PMI insurance. I could technically afford 20%, but I won't have a ton of wiggle room if I do. Any advice? +Don't know where else to brag about this. + +It's just a $250 ikea mattress but it is wondrous! + +Tears are actually welling. I've only ever had hand me down mattresses my entire life (I'm 26 now). Now I finally own a mattress that is meant for my body. I am so grateful. +I have a spare laptop and spare bandwidth so I decided I would run a full node and help the network. I am not stupid but not very technical either. + +It took two days to download the full blockchain. Why is that? I have a fast 50 MB fiber connection. 50 gigs on bittorrent would take just a few hours. I had to wrestle with getting ports open and working so all in it took me about three days to get up and running. + +So here I am the proud operator of one of only 5,000 full nodes, doing my bit to help bitcoin but the experience is very disappointing. On my screen I have a large white area that is empty. It looks like a wallet, because of course it is that as well. At the bottom of the big empty white space are two tiny icons which if I mouse over one I get a notification that my copy of the blockchain is up to date. The other one shows how many users are connected to my node. This is in tiny text that disappears after a +few seconds. Other than that, nothing happens that can be seen. + +Here's my problem. There is no reward for running a full node but a definite cost. We rely on the goodwill of the community to run this essential service without which bitcoin would grind to a halt. Can't we make this at least a bit more visually interesting. How about a flashing light every time someone connects to the node, some on-screen statistics regarding how many blocks have been served to other nodes, value of transactions verified, how many other nodes are on-line, what percentage of the processing power I am providing. How about a scrolling bar saying "Thanks for supporting the bitcoin network". What about a simple block explorer allowing you to dig into the details of the blockchain you are so graciously hosting. If the internet is disconnected, nothing happens so if your network plug falls out you won't even know. What about a big green light saying online and some indication of the level of traffic passing through the node. + +I want to bring my friends up and say look, here's a full bitcoin node making the network run. I am part of it and you could be too. However showing a laptop with a blank white screen does not engender much excitement. It does reveal a failure of imagination. + +I know, none of this helps the network or is in anyway essential. It would however make people running full nodes perhaps a little prouder to be doing so and give them something to show off. To me this points to a fundamental problem with the powers that be in bitcoin. Yes we are decentralized but we all know now that the core developers wield a lot of influence. Coders are not blessed with a lot of imagination and tend rightfully to work on making sure everything is technically correct. Vary few successful companies are run by coders (or accountants for that matter). Academics are usually terrible business people. The frilly bits matter and good business people understand that and act accordingly. + +I have seen a lot of discussion on how essential full nodes are. Even the never ending blocksize debate keeps regurgitating the fact that full nodes are dwindling and centralization is a risk. Very esoteric (and frankly stupid) discussion on increased resource requirements forcing full nodes to close down. + +Come on! Make it sexy and interesting to run a full node and lots of people will do it. Yes provide an off switch for the frilly bits so serious coders can steer at a blank white screen but give the rest of us a bit of excitement. +Hi, "dollar cost averaging" is normally explained as investing the same amount into the same portfolio mix every month regardless of the market going up or down, and this is meant to reduce volatility. + +However, my job requires I submit paperwork on my personal investments which is troublesome to do. So I'm considering putting £20k per year into my S&S ISA every year regardless of the market going up or down. Is this still "dollar cost averaging"? + +Presumably it's still less volatile than putting money in when markets are doing well and not putting in when markets are doing poorly, but more volatile than paying in monthly? Might just be a cost I'm willing to pay to avoid monthly paperwork, is that reasonable? Thanks in advance. :) +I just downsized my home, completion was last Thursday. After all was said and done, there should have been around £320,000 left over in cash after the sale. I was expecting the money to land in my Halifax savings account more or less the same day or day after. + +However this has not happened. + +My solicitor have admitted (verbally, refuse to confirm in email) that they have left a digit off the end of the CHAPS transfer numbers which has caused the problem. However it seems that the cash is no longer with the solicitors and Halifax (after being on the phone for an hour after raising an official complaint with them) couldn't find any evidence of that sort of money headed their way at all. + +I would have thought that if the numbers were malformed, whatever systems they use for sending these payments would have rejected it immediately citing an error? I work in software development and it would strike me that if I had a field that required ten characters, only inputting nine numbers would cause an error and not actually make a payment? I've never dealt with CHAPS personally so maybe I'm wrong, but this doesn't sound right to me! + +Now the solicitor has told me that they have issued a recall on the money, but after googling around this sounds like lies to me; the sources I have read have stated that CHAPS cannot be recalled without the recipient's consent. As it seems that if the number is wrong, I'm not the recipient anymore. + +The short answer is the solicitors don't know where it is, Halifax don't know where it is and can't do much about it and my solicitors are just hard balling me and seem to be reluctant to have their bank take any action. + +What are my next steps here? This is an awful lot of money to just lose, I do need it back! +As the number of one-person households continues to rise, analysis reveals the financial situation and personal well-being of those living alone. + +https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/articles/thecostoflivingalone/2019-04-04 +I've started looking into psilocybin mushroom companies such as Compass Pathways (CMPS) as I believe they will eventually flourish, and I'd like to get in early. Mushrooms seem to be the big ones but, I am also finding that MDMA therapy is a close second. + +Is anyone else investing into these types of companies? Which ones? Why? +When Celsius went under they pretty much took 95% of crypto, and at the time like 60% of my net worth with it. + +I had completely over invested and losing all of that devastated me a bit financially but more mentally. My trust was broken. U had worked so many hard hours to earn the dollars to invest in crypto to put in Celsius all for it to be devoured. But I also realized I was okay. I had a job, friends, a roof over my head, and a nice cat named Margot. + +Basically although I was disappointed I stopped being depressed over the funds quite quickly when I realized I could do nothing now and being sad helped no one. Instead I needed to work harder than ever to rebuild my portfolio from the ground up. This time storing more safely…. + +I’m really sorry to everyone who lost money it fucking sucks. But it’s just money and you’re still alive and being depressed isn’t going to get you out of this whole. Follow the court case to see if any of your money will be returned and also work hard to rebuild. You all got this. + +I put a similar message out after I lost my initial funds but when it happened again on a scale as big as FTX I knew I should put out another. +The only reason this even gets so much attention is because there was a large group of retail traders gaining from the momentum. It wasn't 'us' who made the stock go from 18$ to 38$ in a day, it wasn't us who made it go from 40$ to 70$ in 1 day, we were just along for the ride. + +Don't let them put the blame on us, fight against any regulation! Why ban stocks from being shorted >100%? Maybe Gamestop can happen again then? + +&#x200B; + +Yes, maybe good regulations could be made (like banning the sale of order flow like robinhood does) but in the small text they will always put a clause that lets your wife's boyfriend fuck you in the ass.Just leave robinhood and join a real broker. + +&#x200B; + +Elizabeth Warren doesn't want the stock market to behave like a casino, which means she doesn't like the entire point of WSB. + +"These wild fluctuations are just the latest indication that many private equity firms, hedge funds, and other investors, big and small, are treating the stock market like a casino, giving little consideration to the companies, communities, workers, and consumers that may be affected by these risky bets," + +&#x200B; + +anyway just venting, peace +Contemplating moving in Gothenburg or Stockholm, Sweden in some years after we have reached FI. Kids would be in primary school then. + +&#x200B; + +My husband is Swedish. My children would have citizenship. I researched that it would take me 3 years to get citizenship. We would probably move there for a few years, and if we don't love it, after I get citizenship, we would move back to Canada where we also have citizenship. + +&#x200B; + +I would imagine my husband would find some sort of work, while I go and learn Swedish; so we would be taxed income tax. How are the taxes on oversea assets or oversea capital gains in Sweden? + +&#x200B; + +Anyone living in Sweden as an expat wanting to share their impressions. My heart is in the mountains, I also dislike the cold (I grew up in Vancouver but went to college in Ontario so know what real winters are like) and totally get SAD in the winter when it just rains and is dark all the time. But I think it would be good for the kids and us to experience different cultures. (Currently we live in Asia so we are adaptable) + +&#x200B; + +&#x200B; +My free health clinic gave me a brochure for bill assistance. I called the organization and they said I live on the wrong side of the river to receive assistance. + +I applied for financial help when I was in the hospital last week. They called *me* to say they could help me apply for Medicaid but when I called back they found I wasn't eligible. + +Another place I tried to apply for bill assistance is always full. + +I still haven't heard back from the state about SNAP benefits. + +I've never had to navigate this stuff before but I guess my case isn't desperate enough, even though I have $20 to my name. And now I'm not sure if I can continue my job search right away because I'm unwell. + +Didn't tag as vent/rant because I'm open to ideas as long as they're not blaming me for my current predicament. +During lockdown due to working extra shifts (NHS) and not going out I saved more than I ever had before. Now life is going back to normal my spending is getting out of control and the last two months my saving amount has been negligible. +I'd appreciate some tips to continue saving whilst still having a life as it's nice to know I'm getting more financially secure. + +In the wake of potentially the biggest day of our lives, who else is waiting to quit their jobs? + +And spend time with loved ones, start a family, contribute towards society, change yours and your loved ones lives for good! I can't wait! + +I know I've said many times wen Lambo and wen moon but really I just want to tell my wife who's been studying for almost 10 years "honey I got this, you can rest now and we can finally start thinking about bringing a child to this world". +Not gonna lie, a Lambo will be cool 😎 💎🤲 🦍 🦍 🚀🚀🚀 + +So what are you excited for?? + +EDIT: Anyone worried this is FUD to set expectations and hard downvoting, don't worry. Any ape that's made this far is most likely rocking a pair of diamond hands. The post is just fluff and sharing positive thoughts <3 💎🤲 🦍 🦍 🚀🚀🚀 +For those of you who experienced the dotcom bubble, the banking crisis of ‘08, and now the coronavirus pandemic... + +What advice would you give to a fairly new investor (1-2 years) who currently has positions in stocks as well as $5-10K capital available to invest in more? +Uber Technologies is reports its Q2 earnings on Wednesday after the bell. The San Francisco based technology company said its Gross Bookings reached an all-time high of $21.9B, up 114% year-over-year. It generated a net income of $1.1 billion and Adjusted EBITDA of $(509) million. + +&#x200B; + +[https://risingcandle.com/marketnews/uber-announces-q2-earnings-gross-booking-reaches-all-time-high/](https://risingcandle.com/marketnews/uber-announces-q2-earnings-gross-booking-reaches-all-time-high/) +Hey all! + +I've been running a website for a few years now and have around 140k just sitting in the bank after taxes. For a while I ran around looking at houses, but couldn't really find anything In the areas I wanted to live in. I considered renting one out, but it sounded like a nightmare. The market here seems to have hit a peak and things are actually dropping again. + +I'm kind of a loner who doesn't really do much other than gaming and other cheap nerdy things, so its only going to keep growing until the site dies (could be 2 years, could be 10 years, no idea with how niche it is). What would be a good path to take with it? I know with inflation I'm technically losing money, and taxes are a killer with how few expenses a website has. I'm 24 if that makes any difference. + +What should I start looking into investmentwise? If only they taught this stuff in high school ;/ + +First of all, there is a 0% chance that we are in a bull market like this dumbass [post](https://www.reddit.com/r/CryptoCurrency/comments/udrns8/ive_been_here_since_2013_and_sorry_but_the_bull/) with 1k upvotes stated. + +Second of all, we ARE in a bear market. And I am not talking about the last few weeks. Crypto is on a steady decline for **7 MONTHS**, and people want to still argue that this isn't a bear market? + +By definition, a bull market occurs when securities are on the rise, while a bear market occurs when securities **fall for a sustained period of time**. If 210 days of steady decline isn't a sustained period of time, I don't know what is. + +Personally, I haven't invested in the last few months for various reasons. The main one was that all altcoins were -70% down from ATH, while BTC was still at 40k. Now tell me what would happen if BTC reached 28k like it did last year? Altcoins would be most likely down -85%. + +The rate hike, inflation, the Ukraine war and the stock market being in a bubble for almost 2 years now are just some other reasons. + +So when will bull market start again in my opinion? Sadly, I believe it will happen only after a market crash. There will be a nice reset, investing going back to normal and people buying the dips, potentially war being over or even getting inflation under control. + +Currently, no investor will ever go all-in with their money if there are so many risk factors. +For the uninitiated, the [basic idea](http://en.wikipedia.org/wiki/Georgism) is: + +In our current system, a wealthy landowner can buy up a bunch of land and then sit on it for a few years, and the value of the land will rise due to increased urban development/commerce in the surrounding area, or increased government services being offered in the area, or whatever. So when the landowner makes a profit from selling his land, he hasn't actually created any of that wealth through his own labor (or by improving the land in any way); the wealth has been created due to improvements by the surrounding community making that land more appealing for prospective buyers, and thus worth more. In other words, the wealth is socially created. Therefore, because the community is entitled to the wealth that it produces (rather than simply letting land speculators walk off with it without earning it), these land rents, as they're called, should be taxed at 100% (or near 100%) and used to fund the social improvements, government services, etc. that the community has been implementing. + +It's also worth noting that apparently, [80% of the capital gains in the U.S. economy are actually land value gains](http://www.youtube.com/watch?v=CnrEHFwZ9hk); and so, [in theory](http://en.wikipedia.org/wiki/Henry_George_Theorem), this system could provide sufficient revenue for practically all government services, without the need for arguably less "fair" forms of taxation. + +I'd love to hear your thoughts, Reddit. + +P.S.-- Here's a [link](http://www.politicususa.com/en/founding-fathers-liberal) detailing Thomas Paine's Georgist-sounding ideas, and here's a [link](http://mises.org/rothbard/georgism.pdf) giving Murray Rothbard's critique of Georgism. +Hi everyone, today's article of the week covers the theory and debate around Net nutrality. + +The article can be found [here.](http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.30.2.127 +) + +Our summary this week is by /u/randy_newman1502: + + +Net neutrality has once again emerged as an issue in the United States. This week's article of the week is from the Journal of Economic Perspectives (JEP). The JEP is a journal that occupies a space between academic economics and the general interest press. The purpose of the JEP is to synthesise economic research and make it more accessible. + +The purpose of this writeup is to summarize the article without editorialising, but everyone is encouraged to read it if they want a better understanding of the issues surrounding net neutrality. + +First, we must define net neutrality. Broadly speaking, network neutrality is the idea that an internet service provider should treat all traffic the same regardless of where that traffic originates. For example, network neutrality would mean a firm like Comcast would not be allowed to ask Netflix to pay for privileged access to its network. + +Like all things in economics, there are trade-offs involved, and the authors note the following: + +>The economic literature examining net neutrality is young, and it would be rash to conclude that researchers have spotted all the key economic trade-offs. So throughout we identify some of the important open questions in this topic. Moreover, as we survey the literature, we highlight one particular theme: There is little support for the bold and simplistic claims of the most vociferous supporters and detractors of net neutrality. The economic consequences of such policies depend crucially on the precise policy choice and how it is implemented. The consequences further depend on how long-run economic trade-offs play out; for some of them, there is relevant experience in other industries to draw upon, but for others there is no experience and no consensus forecast. + +Let us begin by summarising the key arguments on both sides. One the one hand, many data carriers say that differentiating charges will allow them to manage congestion efficiently and to provide an incentive to invest and innovate. Content providers have conversely argued that the absence of network neutrality will deter them from reaching customers and discourage innovation. + +The article begins with a simple model which posits a situation with two firms- an ISP and a content provider. The model also posits that broadband access and content are perfect complements to each other and thus, the demand for both depends on the total price an end user will have to pay. + +The simple model produces a surprising result: when Comcast charges Netflix, nothing happens. The simple model Under this setting, the firms end up having a symmetric position where the profits are split in half and any alteration in the fee change neither changes the bill to the end user or the profits of the firms. + +This is obviously a simple model and does not incorporate several important issues that are central to the tradeoffs surrounding net neutrality. Next, the authors posit a more realistic model [Insert Fig 1.] + +>In two-sided pricing, the ISP can charge a subscription fee p to users and a termination fee t to content providers for delivering their content. By contrast, in one-sided pricing, the ISP can only charge a subscription fee to users. A regulatory restriction can rule out two-sided pricing. + +>In this framing, net neutrality can be thought of as a requirement that the ISP provide the same service to all content providers and users, while charging a fee only to users. + +The outcome that maximises social welfare in this scenario is when all content providers can contact all end users. Under certain assumptions, it can be shown that all two-sided pricing does is redistribute rents between content providers and ISPs, leaving end users unaffected. + +However, when heterogeneity among consumers (in how much they value content) and content providers is introduced, it can be shown that: + +>one-sided pricing is welfare-superior if heterogeneity +among content providers is particularly pronounced, whereas two-sided pricing is welfare-superior if heterogeneity among end users is particularly pronounced. + +When content producers can charge consumers directly (like Amazon with Prime, Hulu, HBO, etc) the economic insights are ambiguous and one should be wary of anyone making bold policy claims in favour of one or two sided pricing. + +***Other issues:*** + +**Congestion**: Some types of data lose their value with delays (such as VOIP calls) while other types do not (downloading large files) since it is not as time-sensitive. It is surprising that more ISP's have not tried some kind of time-of-day pricing or peak pricing (similar to Uber's surge pricing). This could be welfare enhancing if capacity is provided with priority to high level traffic. This is an example of how doing away with net neutrality could be beneficial. + +However, even this can be more complex than it seems. [Choi & Kim (2010)](http://onlinelibrary.wiley.com/doi/10.1111/j.1756-2171.2010.00107.x/abstract) illustrate how prioritised access could serve as a rent-extraction device. + +**Investment:** A lot of attention has been paid to how abolishing neutrality will effect the incentives of ISP's to invest. There is concern that in the absence of neutrality, non-priority traffic will be pushed onto a "dirt road" versus the priority traffic that gets put on the "fast lane." An ISP could face incentives to "shade the quality of lower-quality products" in order to push users to upgrade to higher margin, higher quality products. However, according to the authors, "most practical net neutrality proposals permit tiered services to users" which ameliorates this issue. + +[Bourreau, Kourandi, and Valletti (2015)](http://onlinelibrary.wiley.com/doi/10.1111/joie.12068/full) argue that under discrimination, investments in broadband capacity and content innovation are higher than under net neutrality, however, the risk of fast lane/dirt road dynamics is present even with competing ISPs. + +The Choi & Kim article linked above also argues that a discriminatory regime can weaken content providers' incentives to invest out of a fear that an ISP could expropriate some of the investment's benefits which is something else to consider when evaluating the effects of neutrality on investment incentives. + + +Conclusion: + +The question of whether net neutrality is "good" or "bad" is an open question. It is tough to get an answer if the question is framed in those terms in the first place because personal preferences are in play. The questions of "is net neutrality good for investment" or "does net neutrality encourage innovation" are more specific questions but tough to answer empirically. The best that can be said that there are certain circumstances where net neutrality is welfare decreasing and certain other circumstances where the opposite may be true. + +This "Article of the week" attempts to review the literature and present simple models through which people can start to think about net neutrality in an economic framework. In other words, the situation is as the authors laid out near the beginning of the paper: + +>The economic literature examining net neutrality is young, and it would be rash to conclude that researchers have spotted all the key economic trade-offs. So throughout we identify some of the important open questions in this topic. Moreover, as we survey the literature, we highlight one particular theme: There is little support for the bold and simplistic claims of the most vociferous supporters and detractors of net neutrality. + + + + + + + + +[edit] my mistake, I am not talking about Roth IRA, but I mean Roth 401K. + +Until today, I was investing in traditional 401k. However recently I found out most of my colleagues are investing in Roth 401k. I spoke to them and they were like, it grows tax free and have less restrictions. + +Example give by my colleague (rough calculations): + +Traditional 401k: +Say you invest 100k (pre-tax) and at retirement it is 3x = 300k.. you pay 0% tax, and get 300k in hand +Total taxable income: 300k +Total tax paid: 300k*.30=90k tax + +[Edit] +Roth 401k: +Say you invest 143k(pre-tax) -> 100k (post-tax) and at retirement it is 3x = 300k.. you pay 0% tax, and get 300k in hand +Total taxable income: 143k +Total tax paid upfront: 143k*.30=30k tax + +Off course for this calculation, the assumption is your tax bracket remain same, even if it doesn’t taxable income diff is huge. + +Wondering what do you guys think about this calculation and what do you guys invest in and why? + +Thanks a lot for your time! Appreciate it. +I’m curious to learn from those who have been successful (nothing against those on the path like I am!), just ahead of where I am, who saved and saved, invested that ‘egg’s nest’ and are now living off of that + maybe social security now. In the years leading up to when you wanted to quit your full time job, how did you invest that egg’s nest? I’ve currently been in a managed eTrade account (rebalanced, etc.) for 2 years and when I run a comparison report on how it performed, it literally follows the graph line of the S&P500 (I wish I could post a screen shot) but with lower return. My fund did 9.85% over the topsy turvey past 2.5 years VS. S&P500 that did 15.87%. Is that “proof right there?” And I’ve paid a few $k for the fees. + +My profile: +51 yo, would love to “retire” (quit full time job) at 57 +Married + +Any advice? Is the VTSAX the right approach? Put 10% into some sort of bonds? I’ve been playing/reading earlyretirementnow.com which has some great advice and some planning worksheets which have been helpful, but a bit rather complicated. + +Thanks everyone! +Introducing the latest moonshot, Senso Inu. This has the feel of what Shiba was in early January before the masses found out and the price soared. Senso Inu has stayed under the radar for weeks while growing slow and steady. They have locked their liquidity, 200k, for 8 years. 2% burn 2% charity wallet that goes towards charities for war-torn areas. They have already donated to Peace Direct. Senso Inu also has actual utility, they aim to break down the barrier of entry for new crypto users and are set out to accomplish that with their upcoming Senso Secure wallet app, which is being made by crowdbotics (they make uber and facebook apps), they will also have a debit card (courtesty of Empire Bit, the largest bitcoin ATM company in the US), their debit card will allow you to instantly spend or withdraw your crypto into your local currency. Only 292 holders currently and the breakdown of wallets is very balanced and there have been little to no sales from early holders which shows they believe in this long term. They have publications starting to come out tomorrow which should get them some serious exposure. Senso Inu is not your standard meme token, this has the looks of something huge. + + +Website: https://sensoinu.com/ +Telegram: https://t.me/sensoinu +Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0xadf2Dd5Ffb2A11E1396a04D70fF7D9C1aD54652c&use=V2 +Etherscan: https://etherscan.io/token/0xadf2dd5ffb2a11e1396a04d70ff7d9c1ad54652c +Introducing the latest moonshot, Senso Inu. This has the feel of what Shiba was in early January before the masses found out and the price soared. Senso Inu has stayed under the radar for weeks while growing slow and steady. They have locked their liquidity, 200k, for 8 years. 2% burn 2% charity wallet that goes towards charities for war-torn areas. They have already donated to Peace Direct. Senso Inu also has actual utility, they aim to break down the barrier of entry for new crypto users and are set out to accomplish that with their upcoming Senso Secure wallet app, which is being made by crowdbotics (they make uber and facebook apps), they will also have a debit card (courtesty of Empire Bit, the largest bitcoin ATM company in the US), their debit card will allow you to instantly spend or withdraw your crypto into your local currency. Only 292 holders currently and the breakdown of wallets is very balanced and there have been little to no sales from early holders which shows they believe in this long term. They have publications starting to come out tomorrow which should get them some serious exposure. Senso Inu is not your standard meme token, this has the looks of something huge. + + +Website: https://sensoinu.com/ +Telegram: https://t.me/sensoinu +Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0xadf2Dd5Ffb2A11E1396a04D70fF7D9C1aD54652c&use=V2 +Etherscan: https://etherscan.io/token/0xadf2dd5ffb2a11e1396a04d70ff7d9c1ad54652c +I just saw a post where the OP posted a seed phrase. He said it was a treasure hunt of some sort. It seemed suspicious so I did some research. I saw this [article](https://medium.com/metamask/rotten-seed-phrases-a-new-scam-targeting-crypto-users-b414f9ef292e) about rotten seed phrases. It's somewhat different but the same principle is applied. + +Basically, what the scammer tries to do is trick a user into installing a wallet using a compromised seed phrase that the attacker has access to. Once the rotten seed phrase has been imported, the scammer waits for the user to add funds to their wallet, and then drains the accounts. + +First of all, if it's not your seed phrase, don't access it. Second, if it's too good to be true, it probably is. Third, be vigilant. Everyone is vulnerable to being scammed. + +&#x200B; + +TLDR: You guys remember when people across the US and some other countries received mysterious seeds, this is exactly like that. Don't use them. +Before this job opportunity, I ( 23yo F) was fortunate enough to get my offer accepted on a townhouse for 225k. The original plan was that I would move in and find a roommate to help out with the mortgage. + +However, a huge door of opportunity opened up for me in the middle of this when I found out I landed a Sr.Manager job for 85k, plus 16% commission --all relocation and housing fees covered/reimbursed. It's almost impossible for me to pass up on this as it closely triples my current salary and gives me an executive role (i'm currently in an entry level role so this is crazy). It's a game changer. The kicker is: it's a hybrid job in a different state, 700 miles away. + +I am excited but it's a mess as I'm still in the middle of closing on my first ever home. I already have no clue what is going on half the time, and now I have to think about renting it out and being a landlord across states--which again, I know nothing about. Not even sure if renting it out is possible because I saw something in the paperwork with my lender that said I "must reside in the property for at least 12 months". My father told me to ignore that, but idk that seems illegal. + +What should I do? I am supposed to close on the house mid next month, mortgage on this home is roughly $1,481 a month, and this new job is giving me 6 months to relocate. I feel like a total clueless noob. + +&#x200B; + +TLDR: Closing on a home, but found out I have to relocate in 6 months, not sure what to do with the new house and have no clue as to how to be a landlord or if I am even allowed to be one this early. + +&#x200B; + +Edit: I would love to keep this home as it could be another stream on income and an investment + +Edit: People are wondering how I was even approved for the home. To be clear with my current income, 38k salary base, and with commission it is 50-55k a year. I have great credit and 0 debt +Both sites are notoriously bad, anti-bitcoin and will try to sell you bcash trash. + +bitcoin.org is a great start. + +Also, not your keys, not your bitcoin. + +And do your own research. + +Stay safe and welcome to the wonderful world of bitcoin. +I have quite a big bag of LTC and it has been nothing but disappointing for the last 5 years. Anyone here in the same boat who is not really happy with the way LTC has been moving in the last 5 years? + +I bought LTC when BTC, ETH and LTC were the big 3. Both ETH and BTC have outperformed while LTC is still below its 2017 ATH. I know this sub leans towards ETH but a general opinion would be nice +If you're new to Ethereum, but in love with Bitcoin, you may be thinking, "well, Ethereum is winning now, but Rootstock is still a contender". This topic come up frequently and has been addressed community members quite well. Because posts get censored elsewhere, and deleted over time, I thought I'd reiterate the points here. + +**tl;dr Using Ethereum to create bonded side chains has advantage to Bitcoin holders that cannot be obtained by non-currency agnostic chains (such as the proposed chain called Rootstock). Ethereum is better for Bitcoin, and with PoS, is more secure.** + +Rootstock is currently a proposal to be the path to creating smart contracts with Bitcoin. There is this idea out there called “bitcoin maximalization” in which a some cryptocurrency enthusiasts will only accept Bitcoin as THE blockchain of the future. Well, the challenge with that idea is that, while Bitcoin was the first successful blockchain, it is also slow, expensive, and the least-developed. Bitcoin maximalists believe that will change. They believe that bitcoin will adapt. They think Bitcoin will incorporate more technological innovation and maintain global dominance. Sadly, this belief still holds true for many, despite the clear conflicts between mining, development, and exchanges that have driven the long drawn out block size debate. Bitcoin ability to adapt and incorporate new technology is clearly questionable. + +One technological revolution brought on by Ethereum has been the smart contract (programmable automated contracts). Ethereum has had a year long monopoly on this innovation, and the monopoly appear to be maintain for the foreseeable future. Bitcoin maximalists do not like that idea. They feel it is a threat to Bitcoin dominance. + +While bitcoin and Ethereum COULD make lovely music together, the idea that Bitcoin could lose its dominant position (by market cap) is likely true. Ethereum has many more use cases. This doesn’t mean Bitcoin will go extinct. As a streamlined, non-bloated, currency, it may still be very useful, but I digress. + +What if Bitcoin could simply gain Ethereum’s technological sophistication? Rootstock desires to do just that, well, sort of, and for a piece of the pie. For that reason, it’s often promoted by /r/Bitcoin (a highly censored bitcoin community similar /r/btc). + +**So how will Rootstock plan to achieve this?** + +First, understand Rootstock is currently vapor. **An idea** and **an implementation** can be worlds apart. At the time of this post, there is not a single line of code on Github, while Ethereum has just matured to "Homestead" and is running perfectly. While some describe Rootstock as “open source”, currently, nothing is open. Ethereum development took years to get where it is today, and the open aspect of the development led to Etherum’s current remarkable sophistication and stable platform. + +But let’s assume, fairly, that Rootstock does eventually emerge from vapor. Rootstock developers are borrowing some of Ethereum’s technology. Thus, in some sense, some of the work is provided for them thanks to Ethereum. Of course, it is easy to overstate. You can’t just cut and paste Ethereum and have it work. It requires a massive amount of development. + +**So what will Rootstock look like.** + +Currently, they have two major version planned: + + * 1) Smart contract via a 2-way peg, + * 2) Smart contract by merge mining. + +/u/vovobov (throwaway account) had this nice contribution: + + > **Ethereum as a bonded sidechain of Bitcoin with advantages over Rootstock** + + > What is a sidechain? + + > According to block stream: + + > A sidechain is a blockchain that validates data from other blockchains + + > Ethereum already does that with BTC Relay. So how about pegged assets? + + > * Two-way peg refers to the mechanism by which coins are transferred between sidechains and back at a fixed or otherwise deterministic exchange rate. + + > * A pegged sidechain is a sidechain whose assets can be imported from and returned to other chains; that is, a sidechain that supports two-way pegged assets. + + > This is an idea for an Ethereum contract that makes Bitcoin-backed tokens without any softfork or trusted Bitcoin multisig managers. Instead, Bitcoin IOU's are created on the Ethereum blockchain and backed by Ether bonds which are governed by Ethereum contracts like BTC Relay or price oracles. The Bitcoin IOUs are backed by Bitcoins held by the escrow managers but if they steal/lose the Bitcoins (or refuse to redeem them) the Bonded Escrow Contract will observe their naughty behaviour and sell their Ether bond to redeem the Bitcoins from someone else! + +> **Rootstock vs Bonded Escrow Contract on Ethereum** + +>There are two methods that Rootstock developers plan to use for issuing Bitcoin IOUs (called "Roots") on their Bitcoin "sidechain". AFAIU the first involves merged mining and a multisig wallet that entrusts a quorum of Bitcoin miners with the entire basket of Bitcoin eggs that were "moved" to the Rootstock chain. The second method requires softforking the Bitcoin blockchain for a two-way peg. + +>**Pseudonymous, distributed, untrusted issuers** + +> Rootstock dev maaku7: + +> > “It's a known trade-off made by any presently deployable implementation of the 2-way peg. It's also something that we were very upfront about in the sidechains paper, and part of the reason why many of us are so concerned about decentralization of bitcoin mining. + +> > In any non-SNARK, non-extension-block version of the 2-way peg a bitcoin node does not perform full validation of the sidechain as part of the consensus rules. Therefore it is perfectly possible (by design) for a threshold majority of the miners / signers to steal the coins in the peg pool, and censor any attempt to stop them. Why by design? Because that's the promise of sidechains: performant permissionless innovation at the cost of SPV trust in the honest majority of signers / miners. + +> > Sidechains we are working on (e.g. Alpha, Liquid) and Rootstock, by the looks of it, make use of a fixed set of signers instead of or in addition to reliance on >50% honest hashpower. This is because while less pure, it is ultimately safer to work with known, contracted entities as functionaries rather than 50% hashpower which at the moment is just a small handful of unaccountable people. + +> > EDIT: Although obviously the ideal end goal is fully decentralized mining, where creating a 50% hashpower cabal requires organizing thousands of people at minimum. In such a case we may be able to consider a pure SPV peg to have a reasonable security model. But we're a long way from there yet...” + +> says this about sidechain security: + +> > “In any non-SNARK, non-extension-block version of the 2-way peg a bitcoin node does not perform full validation of the sidechain as part of the consensus rules. Therefore it is perfectly possible (by design) for a threshold majority of the miners / signers to steal the coins in the peg pool, and censor any attempt to stop them. Why by design? Because that's the promise of sidechains: performant permissionless innovation at the cost of SPV trust in the honest majority of signers / miners.” + +> Ether bonds can remove most of the need for this trust and allow pseudonymous, permissionless participation in issuance and escrow management. Without anonymous, untrusted validators, distributed around the world, Bitcoin is looking more and more like Chinese Liberty Reserve or E-gold. … + +> **Bonded sidechains decentralize pegged assets** + +> Even with a Bitcoin softfork, Rootstock has just one Bitcoin IOU with all the Bitcoins sitting like a duck in one "wallet". Since Roots are just one Bitcoin IOU from one issuer, they can't be used to back/bond IOUs the way Ether can. If Rootstock's multisig/SPV wallet is robbed by it's signers/miners or (as they always say) hackers, the value of Roots become "zero" along with any asset or contract using Roots. Ether continues to have value if Bitcoins are stolen. Theft just thins out the herd and makes people more cautious. Ether bonds make issuers mostly responsible for their IOUs with IOU holders assuming some risk if Ether loses too much value to Bitcoin. + +> **Issuing servers and indie issuers** + +> A basic Bonded Escrow Contract is practically complete since [BTC Relay]( http://btcrelay.org/) does the difficult part. "Bonded Escrow Contract" is completely decentralized and requires no modification to Bitcoin. It would allow **anyone** to "anonymously" manage Bitcoin escrow wallets or issue Bitcoin IOUs. They only need to obtain Ether for the bond, send it to the Bonded Escrow Contract along with their Bitcoin escrow address and the terms of the IOU they wish to create. Indie issuers don't have to babysit a "server" (that needs to be online all the time) if they create IOU contracts that won't have harsh penalties if they take some time to redeem the tokens. IOU buyers who want faster redemption can buy IOU's from issuing servers. Issuers are free to choose alternatives to SPV such as prediction markets, to verify Bitcoin transactions. + +> **Bonded Escrow Contract options** + +> Here are some options that the Bonded Escrow Contract could make available: +> * Designate how much Bitcoin the IOU tokens are to be worth and how much Ether will back them. This may be a fixed rate or it may be based on other Ethereum price oracle contracts. If a price oracle is used the issuer may have to add Ether to prevent the IOU from going into default if the Ether price goes down relative to Bitcoin. +> * Set exchange or rental rates for the Bitcoin IOUs. These rates may be in Ether and/or Bitcoin and could be based on oracle/derivatives contracts. + +> **When IOUs aren't redeemed (right away)** + +> What happens if the IOU's are sent back to the issuer but the Bitcoins aren't released right away? + +> * Set grace period where there is no penalty. After this you have these options. +> * Set the rate of an Ether stream that is sent slowly from the escrow contract until the value of the bonded Ether gets too close to the value of the Bitcoins in escrow. At this point, all the Ether is transfered from the issuer to the "creditor" (or to another contract). +> * The user who is waiting on the Bitcoins may choose to take some of the bonded Ether instead. This option sets the rate to buy some of the bonded Ether from the Bonded Escrow Contract instead of waiting for the Bitcoins. +> * The contract may automatically use the Ether to buy Bitcoins from a more reliable issuer. Or the creditor may be given the option to do this manually. + + +**In more recent news:** + +Rootstock devs (RSK) clarified that instead of creating a token, like Ether, which is sold to the public to fund initial development. With Rootstock, “every time a person or a corporation runs a smart contract on RSK, 80% of the fuel paid goes to the miners and the remaining 20% to RSK Labs, so we can continue the development of the open source platform”. + +In other words, Rootstock is a sidechain business venture centrally controlled by RSK. Unlike Ethereum, it is NOT a public resource. This does not foster independent, open source, development, such as what we are seeing with ventures like [Ethcore]( https://ethcore.io/) and [Consensys](https://consensys.net/about/) and well, the many many other Ethereum developers well deserving of attention. If you’re planning to build on Rootstock, RSK labs get a cut of your expenses. Enjoy having a new boss. That doesn’t exist with Ethereum!!! The Ethereum Foundation started the enterprise, but Ethereum development is already much bigger than a single foundation. + + +**/u/sjalq also makes these [fair comments:]( https://www.reddit.com/r/ethtrader/comments/48lb7e/rootstock_business_model/d0kpl7t)** + +> * 2-way decentralized pegs do not yet exit. +* People are not going to be very elated about the FedPeg, but I don't suspect this will do much to inhibit RSK token exchange. ShapeShift will for instance allow for an RSK to BTC exchange. +* It merge mines with Bitcoin. OI VE! Talk about an anti-feature. This exposes RootStock to all the problems associate with the great firewall while trying to accomplish sub 10sec block times? What if it becomes obvious that RootStock is now worth more than Bitcoin and Bitcoin becomes this empty shell that does nothing but "burn" Bitcoins into RootStock? +* RSK trades at 1:1 to the Bitcoin. Think about this for a second. It's like going to college, studying a medical degree for 10 years and then equally distributing your income to all your family members and extended family. Even if RootStock is faster, better, more secure than Ethereum. This one single "feature" cripples it. The RootStock ecosystem will never see most of this value. They are giving all their money to rich Bitcoiners who took no risk building their network. ... +* It doesn't much matter that it is EVM compatible. I can launch another Ethereum blockchain today with no token value. The problem isn't compatibility but the value of the state of the blockchain. IE Digix will not only have to relaunch their network on RSK but they'll have to import and close off their state on Ethereum or write and move to Bitcoin. +* All the features they build can be forked by building a network that isn't 20% more expensive to fund it's development. RootStock will basically get a RootStock of its own. + +Add to this is that Ethereum's PoS will be far more scalable, with [Casper development reaching high levels of sophistication.](http://blog.synereo.com/2016/03/06/Synereo-Update/) + +**Basically, unless you absolutely refuse to hold anything but Bitcoin, there is no reason to ever use what's proposed for Rootstock. It's less capable, less secure, less scalable, more centralized, and will be two years behind Ethereum's remarkable network effect (at a minimum). Ethereum's monopoly is going no where for the foreseeable future.** + +--- + +**Update: March 18th 2016** + +--- + +**What About Counterparty?** + + * In most repects, Counterparty's model has the exact same issues as Rootstock's outlined above, so it's the same problems as that described above. Unlike Rootstock, there will be an altcoin, but instead of currency agnostics, it's connected only to bitcoin. + * Counterparty is also greatly limited by bitcoin's slow blocktime. + * [Detail discussion here.](https://www.reddit.com/r/ethtrader/comments/4avjh2/had_a_quick_15_hours_look_at_counterparty_github/). Basically, Counterparty's model is a model that the Ethereum founders abandoned because it is a technologically poor decision. + * [More perspective from Ethereum dev Alex van de Sande](https://www.reddit.com/r/ethereum/comments/4axlau/what_ethereum_can_do_what_counterparty_cant/d14cb6j). +* "many ex-xcp developers who are migrating to Ethereum due to ease of development and better tools. [such as Bitnation] ... Also I don't understand the advantage of counterparty 'using Bitcoin': they also have their own token and their own Blockchain, what is gained by having a ten minute block time?" +* "The 'there's only one Blockchain' crowd is what we call 'Bitcoin maximalism'. I think this is more a political position than a pragmatic one: Ethereum Blockchain is secure and created from the ground up for contracts. Counterparty is hack trying to put them into a Blockchain that wasn't made for it and doesn't seem to want contracts. I do wish them the best, I just never saw their software stack." +* "... they claimed they had cloned us and then the next day Vitalik answered that he had implemented counterparty in X lines of codes in ethereum." + * **VB response to "What Ethereum can do that Counterparty cannot"** +1. <15s block time +2. Light client support +3. Lack of exposure to Bitcoin development politics (personally, I think this point alone is enough to outweigh whatever 8x difference in dollars wasted per hour on PoW the maximalists like to wave around, and was [the original reason](https://www.reddit.com/r/ethtrader/comments/4asiad/ouch/d1385jc) for not making ethereum itself a bitcoin-based metacoin) +4. Lack of exposure to the possibility of Paul Sztorc convincing bitcoin miners that XCP [decreases the value of BTC](http://www.truthcoin.info/blog/contracts-oracles-sidechains/) and so should be censored by miners. +5. Lack of artificially low block size limit +6. Has a coherent long-term scalability roadmap +7. Just to throw a bitcoin maximalist argument right back at them, ETH has way better liquidity than XCP so there's less overhead in acquiring the token to pay fees (alongside other network effects like developer tools, user community, etc) +8. We have DELEGATECALL implemented, they as I understand don't + + * VB does give Counterparty one benefit +> "That said, counterparty is more closely linked to the bitcoin blockchain, so it's easier to make crowdsales that accept bitcoin directly; that's the primary point in favor of a bitcoin blockchain-based metacoin. Though now btcrelay makes up for quite a bit of that difference." + + +**What About Lisk?** + +It's basically trying to be Ethereum, but using javascript (rather than Ethereum's clients which make a hell of a lot more sense, such as Go, C++, Python, Rust, Java, Ruby, .net). A Javascript Ethereum is a terrible idea, and even if it wasn't, why devote a whole new blockchain to it. Seems pointless, leading to some to suggest this may be an elaborate scam. I doubt it's a scam, but it does seem poorly thought out. + +Ethereum's Solidity is VERY close to Javascript, but [MUCH better for smart contracts](http://ethereum.stackexchange.com/questions/2104/how-does-lisk-differ-from-ethereum/2270#2270). + +As noted by /u/Itsaconspiracy and /u/Nevermindthequestion : + +>* The javascript is sandboxed but unrestricted. They have half a dozen rules you're supposed to follow in contracts, to avoid breaking consensus. Nothing's stopping you from putting a call to math.random() in your contract and then nobody gets the same results. Every contract runs in its own sidechain so at least you're not breaking global consensus, but contracts can call each other so it's not totally isolates easier for bugs to sneak in. For example, if someone passes the string "1" into a parameter where you're expectd either. +>* Javascript numbers are all floating-point, so you can get rounding errors in your contracts. (It's possible that they provide a bignum library, but I don't think so, their rules for contract writers don't say "please use our bignum library.") +>* Javascript has weak dynamic typing, so it'ing a number, and you haven't written explicit code to convert it to a number, then you can end up with the wrong answer. ("1" + 2) / 3 = 4 in Javascript. (Try it yourself online). +>* Not to mention that the LISK contracts will be stored in plaintext, which means they'll be vastly more expensive to publish. + +**OK, so Bitcoin focused smart contracts and LISK are bad ideas, but sometimes bad ideas win, after all, bla bla "network effect"** + +Ethereum already has its own network effect within the smart contract space. Bitcoin is far behind. There really is no mechanism to catch up. At this time, there appears to be just as much fresh money going into Ethereum development as Bitcoin, if not more (200+ project and counting) and over a billion dollars in investments estimated this year by Vinay Gupta. Bitcoin is certainly used as a currency in more places, but its use as a currency is still pretty much a joke. **An Ethereum credit card would make this "currency network effect" absolutely pointless.** What people don't seem to get it that Bitcoin's market cap is larger as an artifact of it being around longer, but soon, that will change. The amount of new investment in Ethereum, the number of devs deeply involved in Ethereum projects, has already made Bitcoin's history irrelevant. It seems very obvious to me. In my opinion, it really is over already. **Ethereum has already won its place as the primary public blockchain. It's just a matter of time before people realize it.** And some very clever investors, already have. +It's an absolute monster not seen anything like this. What do people reckon. Whales cashing out? Or trying to keep the price under $1,000 so they can pick up more themselves? +http://www.amtd.com/newsroom/press-releases/press-release-details/2017/TD-Ameritrade-Reduces-Client-Pricing-to-695-for-Online-Equity-Trades/default.aspx + +We asked for a response from TDA, we definitely got one! + +Schwab: $4.95 +Fidelity: $4.95 +TDA: $6.95 +Just a heads up. Halifax's new switching bonus comes into affect tomorrow 29th November. + +£175 for current account switchers. From the release it looks like it's open to current customers who haven't had a bonus since April 2020. + +The bonus is paid in 3 days of the switch completing. Accounts open between between 29th November and 19th December are eligible, so if you were thinking of switching, best wait until then. + +EDIT: Now live - [https://www.halifax.co.uk/bankaccounts/switch-to-halifax.html](https://www.halifax.co.uk/bankaccounts/switch-to-halifax.html) +You can see the media and our hedge fund friends are trying hard to divert attention away from the interest in GME. They are running ads. They manufactured the Silver short squeeze. Their army of bots plagued this sub with useless comments also as a diversion tactic. But that's ok. This is expected because they have been colluding before this sub was even created. When billions are on the line, no one will sit around and do nothing. + +But, what do we do? You may ask. We listen to Sun Tzu on waging war, and 💎✋ of course: + +>***What is essential in war is victory, not prolonged operations...*** +> +>***There is no instance of a nation benefiting from prolonged warfare.*** + +&#x200B; + +They want a prolonged warfare. So guys all we have to do is to wait and hold. 💎✋💎✋💎✋💎✋🚀🚀🚀🚀🚀🚀🚀🚀 + +Edit: Welp, have to be said. This is not financial advice. And yes, we just like the stock! +Hi all, + +Here's the FOIA APPEAL update. I appealed my own FOIA and requested that i be allowed to be pay $1000 - $1500 dollars for additional research on the subject of SR-DTC-2021-005. + +&#x200B; + +This APPEAL was denied under the basis that my APPEAL did not challenge the previous FOIA reply. Well played i must say. I'll be extra careful next time (if there is one) when crafting a FOIA. + +I thought i did alright with the text i wrote in my APPEAL and i did try to do exactly as told which was to challenge SEC's previous reply that said that my FOIA request was accepted for 2 hours & up to 100 pages of research of SR-DTC-2021-005 even though it didn't correctly qualify for one of the 7 points (Research will help public awareness on the subject & SEC, stuff like that). + +I'm pretty sure it did challenge it, but this beast of a person who replied was able to find hints of vagueness in my reply and thus was able to categorize it as "Not a challenge". + +Oh well. Will do better next time. + +&#x200B; + +Anyway here's the FOIA APPEAL reply. The SEC will regardless do 2 hours of investigation on SR-DTC-2021-005 (or already did it who knows). + +https://preview.redd.it/jebtae1nkt571.png?width=893&format=png&auto=webp&s=58a917e142726f363bd51405f47f5c30dcda6b90 + +I have only one other comment to make on this. This reply came only 2 days after SR-DTC-2021-005 was finally filed. I like this timing. I'd like to think this FOIA request was the reason SR-DTC-2021-005 was re-filed. + +I've checked the old vs new SR-DTC-2021-005 and i've seen that whilst a lot of formatting (typos, extra spaces, missing words, missing context, incorrect characters used) issues were indeed fixed, but new ones were introduced. Technically the new SR-DTC-2021-005 document is ALSO in need for reformatting. + +Because of the above, i have my own suspicions that we might see SR-DTC-2021-005 removed again for formatting issues and that the only reason why it's back on the DTC's website was because of this or maybe other FOIA requests doing their job (lighting a fire under their ass). + +We'll see what happens and it's interest for me at least to see if this plays out as i think it might. +If anyone has any understanding of macro, what exactly would happen if the fed just said fuck it all and just hiked by 5% in one go? + +like, someone please explain every financial instrument and how it would be affected. + +&#x200B; + +All I can guess is that we see a march 2020-like crash, and then immediately everyone would stampede into extreme BTFD mode. +*EDIT: Volume 2 coming next week.* + +So I decided to visit the infamous /biz/ board on 4chan out of a mix of lockdown boredom and curiosity. I heard it’s basically the polar opposite of the crypto subreddit, while still being focused on the same subject so it had me wondering what it is like on 'the other side’. + +1. Ripple holders on there are a full blown cult, they go to great lengths with their conspiracy theories, desperately trying to connect senseless ‘breadcrumbs’ regarding the SEC lawsuit and protect their coin with absolute conviction. They are regarded as ‘schizos’ by everybody else and even themselves at this point. After the recent ripple pump they might honestly become even more culty and think of themselves as prophets. +2. The BSV camp is similar but it seems a bit more goofy. Their conspiracies are obscure and hilarious at the same time and they spread them almost ironically it feels like, as if they’re trying to get a reaction from the BTC maxis. There is a good chance that they are just trolling honestly, but I can’t tell for sure. For example there was this theory that when Tesla announced their bitcoin purchase, they actually bought BSV and not BTC, since BSV is the ‘real bitcoin’ made by the ‘real satoshi’ AKA Craig Wright. Obviously it was supported by nothing other than wishful thinking. They keep throwing out random dates when Craig will finally prove that he is the real satoshi and then just change it to something else. To me it’s just too funny to be real. +3. There is a cult of old LINK holders who bought it for pennies and never sold, believing the project will go to a 1000$. They call themselves 'stinky linkies' or 'link marines' I honestly wouldn’t be surprised if some of them die irl before they sell their LINK. Their memes are top tier and they make fun of the core dev called Sergey Nazarov(Sirgay Betray) for being fat and ironically overreact when the developer wallet sells some LINK, saying that it’s over and that Sergey once again, you guessed it, betrayed them. Interestingly, from what I gathered, he never acknowledged 4chan or anything from them publicly, which makes their dedication even more bizarre. +4. There is a ton of shilling, and I mean a TON, everyone shilling meme coins and animal coins, the vast majority of them are obvious scams, or as they call it ‘rugpulls’. Very rarely is there something legit that sticks for longer than a week. Despite the sea of rugpulls, there are a few groups that are loyal to one project, seemingly trying to replicate the success of link and become the next ‘link marines’. The most popular seems to be a project called Rubic. Similar to Link, it also has russian devs and a bit similar logo in terms of shape, so I guess that’s where their interest came from. +5. People discussing stocks are called boomers, but there is not THAT much animosity between them and the dominant crypto crowd, that is unless you are talking about GME specifically. Everyone discussing/holding GME is a cuck who drinks soy and should ‘go back’(to reddit obviously). Generally, stocks are just referred to as ‘cringe’ and not ‘based’. + +This is by no means some 4chan hate thread, just a few observations I noticed and felt like sharing. The social dynamics are completely backwards and it can actually be very refreshing. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Hey all, I heard this idea in a podcast I watched and it got me thinking. Given the situation with some exchanges having to stop withdraws gives the idea that some exchanges are fractional reserves. Does that mean there are some fake-bitcoin out there that exchanges have promised that don’t exist? I’ve been thinking about the stock-to-flow ratio predictions. Of course, models are never the complete truth. Regardless, it is an interesting way to think about bitcoin price. If there is greater supply being bought and sold, then that would artificially increase the supply and artificially drive down price. So, not only is bitcoin on sale because of the bear market, but it is on sale because exchanges are being fraudulent. + +Any thoughts here? +Should we just rename this sub “/r/ipaidoffdebt”? For the love, every single top post is a paid off debt or increased great score. I mean, great for you all but holy cow can we upvote a few normal people’s posts too? +Should we just rename this sub “/r/ipaidoffdebt”? For the love, every single top post is a paid off debt or increased great score. I mean, great for you all but holy cow can we upvote a few normal people’s posts too? +Car was sideswiped by a drunk driver in a stolen car and totaled. Insurance offered me 8.5k . I declined . I asked for 10k. Insurance came and took the car. My policy is still active because they recommend “ I keep it” for now. So I’m still paying for insurance for a car I don’t even have . Plus it’s been almost 2 weeks and they just ghosted me. The only time I get a response from my adjuster is when I write first but lately she’s just been ignoring that too. I’m they have 30 days by law in my state but Jesus, are they really going to wiT until the last possible min? Also NEVER GET ROOT insurance . You get what you pay for. They’re understaffed af and if you thought you were gonna get a speedy settlement I got some news for you. + +So my question is, does it normally take weeks? We obviously already know who’s at fault. So what’s the hold up + +Update : got offered 8700 and took it. I need a car now, I don’t have time to go back and forth +Damn. That SOB is really going to do it guy. Hostile takeover of TWTR? + +All this time we were thinking he is starting a competitor. Well played sir!! + +https://www.streetinsider.com/dr/news.php?id=19866072 +copy/paste: + + +ETH and smart contracts. We all know smartcontracts are revolutionary, but their use cases are limited right now. Smart contracts are awesome, but they are confined within the blockchain and data on the blockchain. In other words, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but it is stuck within the universe of Ethereum and the data Ethereum understands + +It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Let's say the external data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centralized system you want to use. + +Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the $300 has been sent -- onto the blockchain using data that the smartcontract understands? + +The answer: Oracles. Right now the answer is "hey we can hire Oracle X to do the translation to represent this bank dollar transaction on the blockchain." The "oracle problem" with this is that you are 100% TRUSTING that oracle to act prudently. That they don't tamper with the data. So we can kill coinbase but now we have to trust the oracle instead of coinbase. This is a HUGE problem for Banks who want to get into blockchain but have to trust a centralized oracle to translate data. This Oracle can be hacked, falsified, defrauded, really all the problems that come with cenralization. + +ChainLink - this service DECENTRALIZES that translation process of the Oracle. Now, the translation is trustless, and you have a trustless data feed that informs the trustless smart contract. + +Multibillion dollar institutions can rely on distributed blockchain technology and know the data that informs their smart contracts is tamperproof. + +So that's what ChainLink does. ChainLink is the first decentralized oracle that allows anyone to securely provide smart contracts with access to external data, off-chain payments, and really literally any other API you can dream up. Confirmation of delivery of an items (RFID, like Walton), confirmation of a wire being sent or received, interest rates from any central bank, sports scores, product/machine uptime, price of ETH/BTC in real time, weather patterns etc. Right now smart contracts are simple if/then functions where you go and manually do the "if" so the "then" comes back. Now with oracles smartcontracts can automatically confirm or deny if/then statements without any human interaction. Transactional automation for agreed upon terms on steroids. + +Anyone can now engrain off-chain data directly onto the blockchain in an actually decentralized way and use that data to directly inform trustless smart contracts, and since the oracle is decentralized you know the data feed is secure and you’re not concerned with tampering on the oracle’s part. This is like a skeleton key to actualize the data on the blockchain and apply that data to real world use cases. + +Ethereum's had a ton of news lately. I mean, a sleuth of great news. Last year we were BOOMING because of much smaller tid-bits and rumors. Lets take a look: + +&#x200B; + +Goldman Sach's says ETH will beat BTC: [story here](https://lapostexaminer.com/safetitan-ico-delayed-while-jack-dorsey-prefers-hams-over-goldman-sachs-pick-eth/2021/07/14) + +Got the ETF listing in Brazil, a first in Latin America : [story here](https://cryptopotato.com/brazils-sec-approves-first-ethereum-etf-in-latin-america/) + +Visa said there was $1-billioon in crypto spending: [story here](https://www.bitrates.com/news/p/visa-sees-1-billion-of-crypto-card-spend-this-year-eth-doge-axs-jul-13) + +&#x200B; + +How is it possible, ETH is still going under $2k? + + +I do know financial markets drop in June and September. However, we're in July going towards August. Does this mean another crash is likely coming? +I have a ton of friends and finance and all I hear about the excuses of why all these things in the market work really squirrely is they need to have liquidity for healthy markets but when I dig Down into it it just seems like they've eliminated price discovery Am I wrong? +I got a call from an insurance agent trying to sell me on long term disability insurance. Usually, I immediately tell them I'm not interested. But this time I told the agent: + +"If I take these $10 a month and invest them in bitcoin instead on this insurance, after a few years I'll make a profit that's bigger than what the insurance would pay me in case of an accident" + +The chances of a young healthy adult like myself to become permanently disabled in the next 10 years is probably less than 0.1% + +The chances of mooning in the next 10 years with DCA $10 a month are somewhere around 100% + +So yeah... bitcoin all the way +[Article](https://web.archive.org/web/20220918181734/https://www.economist.com/business/2022/09/18/the-300bn-google-meta-advertising-duopoly-is-under-attack) + + +For the past decade there were two more or less universally acknowledged truths about digital advertising. First, the rapidly growing industry was largely impervious to the business cycle. Second, it was dominated by the duopoly of Google (in search ads) and Meta (in social media), which one jealous rival has compared to John Rockefeller’s hold on oil in the 19th century. + +Both of these verities are now being challenged simultaneously. As China’s economy slows and the West’s slides towards a recession, companies everywhere are squeezing their marketing budgets. Until recently, that would have meant cutting non-digital ads but maintaining, or even raising, online spending. With most ad dollars now going online, that strategy is running out of road. Last quarter Meta reported its first-ever year-on-year decline in revenues. Snap, a smaller rival, is laying off a fifth of its workforce. + +For Meta and Google’s corporate parent, Alphabet, the cyclical problem may not be the worst of it. They might once have hoped to offset the digital-ad pie’s slower growth by grabbing a larger slice of it. No longer. Although the two are together expected to rake in around $300bn in revenues this year, sales of their four biggest rivals in the West will amount to almost a quarter as much. If that does not sound like a lot, it is nevertheless giving the incumbents reason to worry. Five years ago most of those rivals were scarcely in the ad business at all (see chart). What is more, as digital advertising enters a period of transformation, the challengers look well-placed to increase their gains. + +The noisiest newcomer to the digital-ad scene is TikTok. In the five years since its launch the short-video app has sucked ad dollars away from Facebook and Instagram, Meta’s two biggest properties. So much so that the two social networks are reinventing themselves in the image of their Chinese-owned rival. TikTok’s worldwide revenue will exceed $11bn this year and will be double that by 2024, forecasts eMarketer, a firm of analysts. + +The TikTok threat is well known—not least to Meta’s boss, Mark Zuckerberg, who mentioned the “unique” competitor five times on a recent earnings call. But Meta and Google may have more to worry about closer to home, where a trio of American tech firms are loading ever more ads around their main businesses. + +Chief among them is Amazon, forecast to take nearly 7% of worldwide digital-ad revenue this year, up from less than 1% just six years ago. The company started reporting details of its ad business only in February, when it revealed sales in 2021 of $31bn. As Benedict Evans, a tech analyst, points out, that is roughly as much as the ad sales of the entire global newspaper industry. Amazon executives now talk of advertising as one of the company’s three “engines”, alongside retail and cloud computing. + +Next in line is Microsoft, expected to quietly take more than 2% of global sales this year—slightly more than TikTok. Its search engine, Bing, has only a small share of the search market, but that market is a gigantic one. Microsoft’s social network, LinkedIn, is unglamorous but its business-to-business ads allow it to monetise the time users spend on it at a rate roughly four times that of Facebook, estimates Andrew Lipsman of eMarketer. It generates more revenue than some medium-sized networks including Snap’s Snapchat and Twitter. + +The most surprising new adman is Apple. The iPhone-maker used to rail against intrusive digital advertising. Now it sells many ads of its own. As sales of smartphones plateau, the company is looking for new ways to monetise the 1.8bn devices, from smartphones to smart earphones, it already has in circulation. So far it is only dabbling in ads and does not report sales figures. But Bloomberg reported recently that Apple’s ad business was already generating sales of $4bn a year, making it about as big an ad platform as Twitter. Apple executives believe there is much more to be had. + +They may well be right. Changes are coming to the digital-advertising industry which will suit the big-tech challengers. Apple itself is in part responsible for what may be the most consequential development. Its rules on “app-tracking transparency” (att), introduced last year, have made it much harder for advertisers to follow users around the web to serve them ads based on their interests. The eu’s Digital Services Act, unveiled earlier this year, takes steps in the same direction. America is mulling similar legislation of its own. + +The crackdown on tracking has been especially hard on platforms that serve display ads, which target consumers on the basis of their interests, as opposed to things they have actively searched for. Meta, whose social networks specialise in such ads, said in February that att would knock $10bn off its ad business this year. It is trying to develop other ways of divining consumers’ interests. So are smaller platforms reliant on display ads, but their task is more difficult without Meta’s deep pockets. Or at least that is how investors see it: Snap’s market value has plummeted by 83%, or $97bn, in the past 12 months. + +Amazon, Apple and Microsoft, by contrast, are insulated against anti-tracking initiatives. They rely mostly on “first party” data of their own. Amazon’s ads are based on what users search for on its site: type “socks” into its search bar and you will see sponsored promotions for exactly that. Microsoft’s Bing is similarly immune. LinkedIn is probably less so, though Microsoft could theoretically use data from Bing to fine-tune the ads shown to LinkedIn users (at the moment it does not, though it has looked into it). Ads on Apple’s app store follow the same principle as Amazon: search for TikTok, say, and you may see an ad for a rival app like Pinterest. Apple is rumoured to be preparing to introduce ads on its Maps app, to promote local businesses. Through its move into payments it could learn about customers’ shopping habits. None of this would require tracking, since the behaviour all happens on Apple’s platform. + +Advertising’s other big coming change is the migration of television-viewing from broadcast and cable to internet-connected tvs, capable of delivering targeted ads. Amazon has already shown ads alongside sport on its Prime Video streaming service. Apple has done the same on Apple tv+, and may yet launch an ad-supported subscription tier, as rivals Netflix and Disney+ soon will. Microsoft has no tv offering, but its acquisition earlier this year of Xandr, an ad-tech company, has given it a foothold in serving ads for other streamers. In July Netflix chose Microsoft to run its forthcoming ad business—to disappointment at Google, which had bid for the contract, and to some surprise at Microsoft itself. + +Digital advertising is spreading into other markets where the new challengers are well positioned. Audio is undergoing a similar digitisation to video, as listening switches to streamed music and podcasting. This presents an opportunity for Amazon and Apple, both of which have audio-streaming services and make smart speakers. Both also have voice-activated assistants, Alexa and Siri, who could just as easily bark out promotions as take orders. Amazon sees Alexa as a future saleswoman as well as a servant. + +Meanwhile, Microsoft’s pending acquisition of Activision Blizzard, a video-gaming giant, will make it a powerful force in that fast-growing and increasingly ad-supported industry. Its Xbox console already shows some ads on the user’s on-screen “dashboard” and will reportedly soon offer more help for developers to sell in-game ads. Activision’s units include King, the maker of “Candy Crush”; last year King generated revenue of $2.6bn from ads and in-game purchases by its quarter of a billion players. + +As digital ads work their way into more corners of the economy, “a new order is going to materialise”, believes Mr Lipsman. He thinks Amazon will overtake Meta in total advertising revenue, possibly within five years. Google is better placed to take advantage of the coming changes, with its healthy search ads and its vast YouTube video and audio services. Still, it will find things more competitive in future. The incumbent digital-ad duo might have hoped that, as ever more advertising went online, their empires would only extend. It looks instead as if new rivals will reach into their business. +This is probably the most exciting update that I can give on this project. 6 developers alongside myself have been working on this for about a year and a half now so it makes me very happy to finally write this post. Because we’re a small team, we've been communicating with people closely and worked towards implementing features that users actually want. We named the application AESIR because who doesn't love Norse Mythology. All 7 of us are active on r/cc and it's through this very subreddit that we met and decided to build something together. + +Before I go any further, I just want to clarify something - algorithmic trading platforms are not some magical money-printing plug-and play systems, and anyone who claims they are / or are advertising it as such are a complete fraud. Algorithmic trading platforms are simply a series of tools that you use as you see fit. If you're a bad trader / lack a trading strategy and have a tendency to yolo funds without testing a strategy first, a trading algorithm won't magically make you a good trader. + +There are multiple reasons why one might want to use an algorithm in order to perform their crypto trading, but the two main reasons are: automating an existing profitable but manual strategy or find new strategies that you would not be able to manually trade. The first tool that we built into AESIR is a great example of the second reason. We want to challenge the way that people trade, and make it easier to employ macro trading strategies. So we built a Volscan Module that allows you to buy any cryptocurrency on your selected exchange that spiked my more than x% in y seconds. + +For instance, you could tell AESIR to scan an exchange and buy **any coin that gains more than 3% in the last 5 minutes**. This goes well beyond the scope of what manual trading can do, as you would never be able to analyse over 1000 trading pairs every 5 minutes. You’d need a lot of coffee for that! + +So with this approach to trading, and coming from a small remote team, we are really proud to finally say that we now have an MVP ready for launch in closed beta mode. It’s still quite a way until it makes it to a full release, as now the application will only be open to a few people to allow us to test the main functionalities of the app, and point out multitude of bugs for us to fix. + +**The Roadmap to Release** + +* The most important thing for us now is to closely monitor the closed beta testing process. There will inevitably be a multitude of issues that arise during the beta, so we need to use that we log, catch and fix those before moving forward. +* The next step for us after Closed Beta will be Load Testing phase where test how well the application can handle a large number of users. +* After load testing, we need to temporarily close access and deal with all of the issues that have come up during Closed Beta and Load Testing. This could be a matter of a couple of weeks, or longer depending on how many issues come to the surface during the testing period. +* Finally — one more internal testing phase before release and we will be ready for an Open Beta. + +&#x200B; + +If you want to get involved with the project, we have our own subreddit at: [https://www.reddit.com/r/aesirofficial/](https://www.np.reddit.com/r/aesirofficial/) + +&#x200B; + +**Obligatory Sneak Preview** + +&#x200B; + +**Live monitoring** + +https://i.redd.it/wqpr5q3215j91.gif + +You can monitor each trading strategy using a live monitor, that will show you exactly what happens behind the scenes, in the moments leading up to a buy / sell. + +**Copy Trading** + +&#x200B; + +https://i.redd.it/gq0qfim115j91.gif + +**Strategy builder** + +https://i.redd.it/j2kphgzj15j91.gif + +&#x200B; + +So yeah, that's it really. Just excited as we're moving towards releasing this application. Thanks for reading :) + +**Edit: Since some of you have asked for them, here are the open beta application link and our discord server:** [**https://discord.gg/jmqr7SvXVM**](https://discord.gg/jmqr7SvXVM) [**https://aesircrypto.com/signup.html**](https://aesircrypto.com/signup.html) +I recently had to get a MRI arthrogram for a SLAP tear in my shoulder. I called before the procedure and asked them the price after insurance, they told me they would call me back. + +They called me later that day with an out of pocket price of $624. I then went to have the procedure and paid the $624 beforehand got my diagnosis (minor tear, no surgery just physical therapy). + +Three weeks later I get a bill for an additional $503? I call the billing department and they told me the original price was only an estimate and that the additional amount was the difference I owe after my insurance paid, the total being $3,794. + +When I pressed they gave me a supervisor who seems to think that they gave me a misquote and that the arthrogram is the most expensive MRI and that might be the reason and that he would call the clinic. + +Curios I did some searching and called around and got a quote for the procedure in cash for $900 that’s without insurance. Now I’m supposed to pay $1,127 and that’s only my portion not what the insurance company already paid? What can I do here? I have the money to pay it but it feels like BS. + +I live in Oklahoma , USA if it’s relevant. + +UPDATE: They called me back and agreed to waive the remaining amount. I’m not sure why but I think when he couldn’t answer my question on why I was told the wrong price after asking them verify with my insurance the out of pocket expense and they failed and the total cost in cash after insurance being higher then the cash cost might have had something to do with it. They still ended up charging $3200 which is above market on average so.. +This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome. + +Replies are expected to be constructive and civil. + +Any questions about your *personal* finances belong in /r/PersonalFinance, and career-seekers are encouraged to also visit /r/FinancialCareers. + +I (17m) will be turning 18 next year, so I have less than a year to prepare + +Context: I earn 1400 a month with my current job, (part time). 400 of that goes to helping with rent. + +So if I am strict enough, I will have at $10,000 saved within a year. + +My advantages: +•I plan on doing 2 years community College to save money. +• My mom will give me her car when I get my license (with only 15 months of payments left) +•I can live with my mom until I am financially stable. + +I want to buy a house/ invest in real estate before I'm 30 + +So the moment I turn 18 I plan on getting a credit card to get started on my credit score. + +What goals should I have, what should I start investing in, and what financial classes should I take to better understand? +So my wife and I are both in our mid-late 30s, we make a combined 170k/yr and live in a relatively low cost of living area of the US. + +Our only debt is 260k on a mortgage which we're in the process of refinancing to a 15yr at 2%. And I have about 10k on a car loan at 0.9%. My wife will need to purchase a car within the year as hers is living on borrowed time. + +We have 2 kids under 5 who presumably will go to college. We have 529's set up for each of them where we contribute a small amount monthly & stash any gift money they receive from relatives. + +We have a little over 600k saved across a variety of retirement accounts (401k's, rollover IRA's Roth IRAs) and currently we each contribute the max to our respective 401k plans. + +Outside of retirement accounts we have about 200k invested in the stock market through index funds, and have roughly 6 mos expenses stashed away in a savings account. + +We're obviously in a very comfortable place right now. But my question is if it makes sense to take our foot off the gas a little bit as far as saving in retirement accounts to focus on investing more for the near term? I have to think that with 600k saved in retirement accounts even if we totally stopped today we'd still be in an OK position at age 60+ with those. + + I'm not sure if FIRE is in the cards, maybe I should post this over to that sub as well. I'd love to make it happen, but my wife is more than content to stay at her job until 65. +My mother is 71. Her financial planner has moved a huge portion of her net worth into Annuities - 70% of her entire portfolio. Planner claims it pays income, never goes down, and in fact if she gets sick she can withdraw the funds with no penalties. For some reason he (the planner) split the money across 4-5 incremental investments into the same annuity plan. All of it sounds to good to be true. I tried to read the contract but its impossible to understand unless you are in finance - FURTHER making me suspect she may be getting in over her head. I cant understand the documents, but I think the fees are 1.25%. + +&#x200B; + +UPDATE: She has $480,000K. NOT SOME, BUT ALL of the money was stripped out of her traditional IRA accounts to do this. + +My mother states: + +"IF between SS and the fact they cover all her living expenses until death - meaning she CANT outlive her money until death, then why are they so bad?" + +I may add more as i learn more info. +Hi all, + +With my going to grad school in the fall, I’ve really been trying to reorganize/prioritize my spending habits. I’ll be in a unique position of staying at home while in school so I won’t have to pay for rent/utilities/etc, and do plan on getting a part-time job to cover the small cost leftover w/out taking a loan and still just trying to make money. + +With that being said, I’m trying to prioritize what exactly I subscribe to and pay for. Through friends/family, I get access to Netflix/hbo/Disney/Hulu for free and don’t need to pay. I’ve realized I spend more time watching YouTube than these services so I don’t see myself paying for them in the future If I ever need to. As it stands now, I pay for NJPW World (usually $10, but w/ exchange rates now it is around 6$), Espn+ for UFC ($7), and started an annual subscription for flograppling ($150, already paid for until next year). + +I’d like to also pay for wrestle universe (10$, w/ conversion rates also $6 rn) ad eventually another subscription for other wrestling (likely hbo max). I get peacock for free with xfinity. Does $32-50 a month on streaming seem excessive? Thoughts? Thanks + +Edit: forget to mention I sail the high seas and theoretically don’t need to have espn+ for ufc +Hello, my hubby (29 M) is looking to start a life insurance policy now that we have a child. He is considering a term policy but I'm concerned that if something doesn't happen to him, which is ideal, then he will lose all the money he put into it after the term. What's the best way to get the most "bang for your buck" from a life insurance policy? Is it better to put money into some type of savings account instead so he doesn't have to worry about losing his money? +6000$ credit card debt with 19.99% interest, how do I get it consolidated efficiently? My regular income is 1,200$ a month and I have roughly 500$ in necessary expenses a month. My issue is with budgeting- making sure I stay within my means, not going shopping/eating out, etc. + +Do I take a personal loan / line of credit which has less interest? I tried balance transfer to another bank, but my credit score (approx. 660) isn’t enough to get a good amount of cash available on that card, so for example I’ll only be able to bring over 750$. No family or friend support, not receiving government benefits. + +What would you suggest? +Can anyone help provide info or suggest a resource for understanding the implications of marrying someone with college debt....specifically large college debt? +First post so if I do something wrong just let me know... + +So I lost a family member recently and did alot for both of my grand parents for the final year and two years respectively. I was aware they had some money in savings but never thought much of it as I figured they probably had debt and the government would take the rest of it. Turns out it was a very significant amount and now I feel bad they didn't spend more on themselves but that wasn't their style. Anyway after taxes and splitting with family members I will be getting in the area of $400k... + +A little background, I'm 29 and have a degree, married, and have a secure job making about $100k a year and the only debts I have are student loans ($70k) and a mortgage ($260k). Plan on having kids so well create a 529 college fund for them as well. + +I've read a couple other similar post asking same question but usually they're young with little income and wanted to see how having that job should/would affect my decisions. We refinanced our home this past year and have a great rate locked in so as long as the rate of return is greater then the mortgage rate ill leave that alone. Student loans will be paid off right away as those rates are between 5% and 7%. After that I'm somewhat open to opinions + +I have been planning on building a self storage facility before any of this inheritance came into play and think I will continue with that plan. Alot of people suggest rental properties but after dealing with being a landlord in the past I think SS is the best of both worlds, rental space but no residents!! It's this a mistake or should I invest the money and let it stew for a couple years? Any advice or questions are welcome and I'll respond the best I can. +I’m a 16M and have a job making $8.50/hr working around 25 hrs a week. Have a car paid for by my parents and only pay for occasional gas. How much of my money should be saved, parents have decided to pay for the first two years of my college (going to CC for the first two years, feel it’s the best choice for my own financial reasons) and have no real monthly expenses, I told my parents to set aside 25% of my bi-weekly paychecks, is this a good number or should I be saving more? What should I do with all of this extra money since I have no expenses, mostly will go to the occasional pair of high end shoe or clothing, nothing crazy, food, gas, activities with friends, etc. should I make a budget plan for this money? + +Tl;dr: making ~$800 a month, little to no expenses, no need to save for college, how should I save/use this money to prepare for my future +I apologize for the poor explanation in the title! Here is what is going on: I have ≈ 100k in student loans and my wife inherited enough to buy our own house (≈145k) plus a rental (≈145k), both in cash. She cannot work and my income plus the rental income is not enough for us to be approved to take out the 40k equity from the rental. Any advice would be warmly welcomed, but the options we thought of are as follows: + +1. Sell the rental - Gets the money, but our market is skyrocketing (we bought the rental for 105k 15 months ago). Because of this, we would prefer to hold onto the rental if possible. + +2. (I am not sure this exists, but...) is there a way for another investor to come in and buy ≈ 35%-40% of the rental? This would allow us to keep the rental and still get some money out of it. I am sure it is technically possible, but is it done? If so, how to best go about dodging high commissions, taxes, etc. + +3. This is a very smart group, and I am sure that an idea that seems obvious to someone has not occurred to us. Please, please, please feel free to spitball any ideas you might have. + +Lastly, if anyone has any insight about any other aspects (e.g. taxes, which I know nothing about) or ideas about other variables I should consider, your insight would be greatly appreciated. + +Thanks so much all, and we wish you the best! +Hi all, it took me half a year before I decided to look at my weekly take home income. I make 68k per year but after taxes and deductions I take home only 42k. We have decent benefits at work which I invest in, plus I live in NYC where taxes are pretty high...but in my previous position where I earned 53k, I was able to take home 40k after taxes in the same area which doesn't make much sense to me. Is my tax bracket really that much higher? I'm now paying a couple extra things like my own health insurance and less than $5k towards some company benefits like 401k and a tiny bit of ownership. + +My weekly take home pay stub example (we get paid weekly): + +Gross pay is 1350 + +Federal tax: 168 + +Fica withheld: 80 + +Medicare withheld: 18 + +New York withheld: 59 + +New York ...something else: 4 + +New York sdi ee: .60 (not sure what this is but it's almost immaterial) + +Queens withholding: 41 + +Health insurance: 34 + +Flex medical: 1.9 (I input $100 per year but can input more) + +I also did 5% match for the work's retirement plan and have a tiny share in the company's stock (like $500 per year) + +After all this my weekly take home pay is $800. It feels relatively small the amount I take home to invest/spend on essential items considering I got almost a $15k raise by moving companies. + +Is a traditional IRA the best bet to cut my taxes a little? Did I reserve too much for a future when I don't plan to retire? I already do Roth IRA outside work with my take home pay. + +Apologies if this is the wrong place or it seems like I'm taking the wrong approach at looking at my money. I'm just a little shocked that I take home almost the same amount. Does anything here feel abnormal or is something I should look at? Thanks for any insight. +I am excited to be having my first child, due in March. I was wondering what are my options or my best course of action for finance/investing accounts for my new baby. Daddy is going to set her up for success! +Wondering if anyone can help me figure out if I should go through with buying a house. My wife and I are single income making 80k with two kids and a dog. We have 20k in student Debt and 8k in car debt. We have a little under 20k in the bank. The housing market has been shooting up where we live and we are scared we will soon be priced out of the market. We shopped around for a while and finally got an offer accepted but our mortgage would be 2k a month. I’m feeling a little overwhelmed thinking about paying that. Am I being a baby or is that a lot of mortgage? It’s the cheapest place we could find that we could afford and live in with kids. +Me and my husband have been looking for a home these past 3-4 months. We’ve made offers on 4 homes so far and each time nothing. We have now made a 5th offer on a different home we viewed yesterday, just listed yesterday. I woke up the usually 5am in the morning, saw it and wanted my agent to put an offer on it without even physically seeing it. I LOVED it. + +We did in the end go to see it that day and my husband ended up loving it too. We put an offer on it within an hour but honestly I’m just having a feeling of hopelessness now. Another couple came to see the home as well and they were older, and look very well off but our appointment was first so they couldn’t go in. They had to wait until we were finished. + +The home was selling for $232,700, we offered $250,000. We’re approved for $300K but we were never going to use that full amount. We want to stay within the $200- 250K range, mortgage plus all our bills would be cheaper than the apartment were in right now. + +We are a younger couple, we do have good and essential jobs, we could afford extra fancy stuff. Just don’t see a need too as of now. Maybe other offers are offering more money? Or are willing to take these homes as is? Is it because were younger and that might be a disadvantage? I know it might be ridiculous to think that because + +1) Sometimes these sellers don’t even see us, why the hell would they care? They just want the best offer. + +2) I know home buying is a dog eat dog world and I need to suck it the hell up and be tough and just keep looking. + +So I guess the main question is, does it look like we offered enough on this home? Should I start asking my agent to change parts of the contract we ask to be done before which are, making sure the septic is clean, have termite treatment done, along with a paying a little of the closing costs? We have plenty saved to pay for closing costs so it’s not a biggie. I’m starting to think this is why no one even considers our offers... +I am excited to be having my first child, due in March. I was wondering what are my options or my best course of action for finance/investing accounts for my new baby. Daddy is going to set her up for success! +Some background: I am 26, 87k salary, only savings is an employer sponsored 401k (I have about 10k saved). I have a personal savings account through a savings app but it is currently empty. I do have an investment savings acct that is worth maybe 60k that I inherited but I really don’t want to touch it if I don’t have to + +Basically I feel that I am too old and make too much to be living pay check to pay check with no savings, but here I am. I have always been bad with money and savings and spending. I struggle with emotional spending and impulsivity. I have tried budgeting and have a hard time actually sticking to it. I know I have to make a change if I want to be able to have the life I desire and not constantly worry about money my whole life. If you have ever had trouble with a budget what kind of things worked for you?? Looking for practical tips, small steps, motivation etc. thank you 🙏 +This is literally the subreddit where we worship money and find ways to profit off of late stage capitalism. Bill Gates is an exemplar, not a pariah. + +Also, how are you going to suck on Elon’s balls like he isn’t a filthy rich billionaire that hoards wealth just like all the others? + +Get your head out of your ass. This is not antiwork. This is not a socialist movement. I’m just a money hungry retard living in a money hungry world. Fuck your mom. +There’s no fucking way I would have held those coins. I never, ever would have held it until now. Shit, I wouldn’t have held it to $6. For a number of reasons. First of all, at the time bitcoin was used almost entirely for Silk Road purchases. There were exchanges (I’m looking at you Mt Gox and the 45 BTC I lost there) but anyone I knew using bitcoin was only using it to buy drugs online. Really fucking good drugs. + +If I hadn’t lost my BTC to Mt Gox and the FBI when they seized all Silk Road wallets, I would absolutely have used it to buy more hash or acid or Hulu passwords. Happily done so. Because for the first time in 15 years I could get clean acid and the idea of it being purchased and delivered to my front door anonymously was a fucking game changer + +It’s fun to look back and think “what if”, but the truth is I would have either lost my keys or spent it on something else. + +Hey, thanks in advance for your help, Team Reddit. + + +Around March 30, my wife booked an Airbnb in Puerto Rico for her birthday weekend, which is the end of June. As of yesterday, May 20, the host called us and said "Sorry, I double booked you and since you're the second booker, you're out."  She blamed it on a glitch in the Airbnb system and said she just now caught that the place was double booked. + + +So we're totally screwed - we have travel plans with lots of people flying here, and we can't find a place to stay - everything is full. Like, EVERYTHING.  Does Airbnb have any sort of policy that deals with stuff like this?  If this is really due to an Airbnb scheduling/software problem, I'd wonder if they have a policy that would compensate us for a trip that nobody can take, due to their negligence... thoughts or ideas, anyone? + +Edit: thanks for the replies everyone. I had no idea there were so many similar experiences with airbnb. I've used them for years without an issue but... oh well. Thanks for chiming in, everybody +Roku current price is $96. I sell a put with a strike price of $95 and an expiration date of Jan 2024. + +The contract pays me $3125, and the stock would cost $6375, so I'm essentially getting the stock for nearly half off. + +This sounds like a great way to get Roku with a huge discount. What's the downside I'm missing or than put not getting exercised? +I will take a recent example by saying Cardano has become the new Ripple in term of price expectation. + +Hear me out before downvoting for comparing Cardano and Ripple (I can already feel the pitchfork). + +Lately there has been a lot of new investors. They are like us when we arrived in this new promised land, feeling like we are the Christopher Colombus of crypto currencies. + +So, it's up to us to help them showing the path (there are already a ton of posts here about that, thank you again for your work). + +That being said, I see a lot of comments from these new people hoping Cardano will reach Bitcoin price and explode, targeting a +$1000. + +&#x200B; + +* **Some maths (sorry)** + +To you, fellow dreamer, you have to understand it won't happen. You have to learn the meaning of market cap. + +Actually, Bitcoin has a market cap of $1.09T. Cardano is at $46.14B, for a price of $1.44 each. + +To reach the BTC market cap, you will need to do x23,62, which would put ADA to $34. Which is still pretty huge, but far from $1k each. + +To achieve this price target, ADA need a market cap of $32T, which is almost 3 times the market capitalization of gold. + +&#x200B; + +* **History repeating itself (kinda)** + +In 2017, newcomers had the same expectation about Ripple, not understanding how marketcap was working, putting a ton of money (some people took loans and gambled on this) dreaming about unreachable price. + +I just hope this post will clarify what you can / should expect about the pricing limit of one crypto currency,based on its market capitalization. + +&#x200B; + +PS: Sorry for the repost, bot deleted my post because there were already 2 posts "about ADA in the top 50", like wth +1994 OC bankruptcy caused a shock in the bond market. Municipalities were hit hard, which makes sense, but why did 10 year treasury yields go from 5.17% to ~8%? + +Shouldn’t that have triggered a “flight to safety”? Would this happen today, and if not what has changed? +given the fears of rising interest rates, it feels like we very well may be heading into another showtime run of a taper tantrum again. I expect Monday will be down as well. If anything though, if you've invested in solid fundamentals and solid companies or ETF's, this would be nothing to worry about + +but what do you think? do you think it will be a taper tantrum like we had a few years back or do you think it will be nothing soon? and if so, how long do you think the quote on quote, "taper tantrum" will last this time around? Do you think this could be the start of a correction or bear market? +I'm feeling like Bill Murray in Groundhog Day. It seems like back in February, everything was dipping slightly, so I bought in. And then it's been like every two weeks is another dip, another round of buy orders, and then another dip, another round of buys. All the while as I'm putting several hundred dollars in each month, the total balance of my portfolio has not budged. It's getting to the point where I realize it's not rational to keep doing this, but at the same time, if there's an opportunity to average down, it seems to make sense? Idk. How are you all handling this year so far? +I couldn't find this by searching, but from watching old movies I used to see the circles on the trading floor where stocks or commodities were traded, and with all the shouting there had to be mistakes made I am sure. + +I was just wondering if anyone ever went through that, was it common and how it was it handled. + +Thanks +I've been doing some research into this subject and I've found a lot of ETFs who pay monthly dividends. I like the idea of establishing a good income stream to reinvest the dividend income, but many of these ETFs look sketchy to me. + +Does anyone have any suggestions of ETFs in this category? +Last price was $2.98. + +Down 20.53% pre-market. + +&#x200B; + +EDIT: USCF management is suspending ability of USO Authorized Purchasers to purchase new creation baskets +And comments are all like "bye bye Ethereum". + +What a bunch of dumb assholes. + +Smart Contracts were never good enough or interesting. + +Ethereum is formed because of the lack of Smart Contract functionality in Bitcoin, + +Ethereum grows really big, + +and now Bitcoiners are all like "hey, we want smart contracts toooooooo". + + +Oh, so now Smart Contracts are suddenly interesting? + +This whole crypto-scene is not going down to 0. + +It's not going to dissipate overnight, nor in the medium term. Heck, I don't believe crypto-networks are going to be abandoned en masse in the long term ( 10 years) at all. + + +I keep hearing the following argument over and over, well intended, but just brainlessly copied from each other: + +**"Do not invest more than you are willing to lose"** + +I tell you, **I have invested way more money** than I am willing to lose in crypto. + +How much of that money am I really willing to lose? About 50 % + +And that's exactly in line with the reasonable amount of losses in a realistic worst-case scenario. Because in a realistic worst-case scenario, expect the total crypto market cap to drop 50 % - as I said, it's not going to go down to 0 + + +How much would I advise to invest? + +* Step 1) Put out a number that you are willing to lose, say $3500. + +* Step 2) Now prepare yourself to be investing an extra $3500, so you are totaling $7000, which is indeed double as much as you are willing to lose + +If shit hits the fan in crypto, see your money drop from $7000 to $3500 and give up ( or don't give up and wait for recovery depending on the reasons for that drop). + +Then you will have lost $3500, which is exactly, what you were willing to lose. + +**Disclaimer:** This is assuming you are not going all-in with your money on 1 shady coin that gets delisted overnight due to network failure or something. This mainly applies to the reasonable cryptos with a reasonable amount of developers, users and roadmaps behind it. + +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + +To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + +To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +Saw my ETH is climbing high, and then checked BTC price expecting about $36K or $37K based on ETH price and then saw $32K and was surprised. Are we decoupling? +There are currently two coins - Cardano and EOS - in the top 10, that have literally no working product yet. They are, at this point, vaporware. + +EOS is still an Ethereum token, promising a network which does not even exist yet. + +Cardano is vaporware, [with no working system, yet somehow placed among the top 10.](https://themerkle.com/what-is-cardano-and-does-it-belong-in-the-top-10/amp/) It’s been accused many times of being a pump and dump scheme because of this. + +Why are these coins being pumped up into the top 10? +Like Brave New World, economic activity in China always struck me as a little bit circular -- aggressive local government growth targets, aggressive subsidies in strategic industries, extensive regulatory bureaucracy, and of course, ghost cities. Economic progress always seems paired with meaningful negative externalities, whether it be soaring home prices or poor air quality. Where in all this frenzy of activity would we see real productivity and GDP growth? + +[In an incredible paper from Merics China Monitor](https://www.merics.org/sites/default/files/2018-05/191017_merics_ChinaMonitor_42.pdf), UCSD professor Victor Shih shows that the Chinese economy does not come remotely close to earning its cost of capital: interest is actually growing faster than GDP, by a LOT. +[Charts](http://theyieldblog.com/china_2) + +Marginal growth in the Chinese economy could actually be considered a Ponzi scheme: interest service on credit was 17trn RMB in 2017 while incremental nominal GDP was only 7trn RMB: for every $2.50 lent out, we saw $1 of GDP growth. That's not economic profit, that's just revenue: it's completely possible that with a growth of $1 of revenue per $2.50 of credit, that the Chinese economy is engaging in negative return activity at this point. +[Charts](http://theyieldblog.com/china_2) + +A large portion of incremental interest growth seems to be getting rolled over: total credit grew by 52trn RMB, growing at 34% YoY despite only a 6% GDP growth rate. If Shih's estimate is correct, 52trn RMB is colossal. That's equivalent to $7.5trn USD, or roughly 35% of US GDP, in new credit being issued. +[Charts](http://theyieldblog.com/china_2) + +This effectively makes the Chinese economy a Ponzi scheme that lights money on fire: State-owned enterprises owe loans that can never get repaid, and State-owned banks continually amend and extend non-performing loans (NPLs). Since there never comes a "judgment day" where a self-interested third-party demands repayment, the entire cycle of borrowing at high rates and investing at a low return continues indefinitely. This inability of banks to recognize nonperforming loans is what most gives China its Brave New World quality: with muted market signals it's impossible to tell if you're building a bridge to nowhere. The Chinese government is paying people with its own paper, and recording debts, which are also denominated in its own paper. +[Charts](http://theyieldblog.com/china_2) + +Above, total credit has grown 33.8%, from 295% of Chinese GDP to 329% of GDP. +THIS IS PART 2, SEE PART 1 HERE: + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**THE BROKEN PART FALLACY** + +* Jack + * Okay and correct me if I'm wrong but are those mechanics basically some of the reasons for the flash crashes that we've seen in recent history? +* Dave + * Yeah, I mean I know the reports that come out have talked about some of these manipulative practices being responsible for some of the flash crashes, but that's not something that I sign on to. +* I'm more of the belief that these are complex systems. It's kind of a fallacy to just assign a broken part. So when a plane crashes, and they say, oh, this part of the wing failed, that's why the plane crashed. Right? +* So in the flash crash, they said oh this guy was spoofing markets, and that's why the market crashed. **But that's not how nonlinear systems work. That's how linear systems work.** +* A causes B causes C, but in nonlinear systems, that's not how it works, there are, it's an emergent property of a self-organized system I mean I you can go down a rabbit hole with, with this kind of systems theory and complexity theory, but I've written a bit about it but I think that assigning that sort of A causes B is not correct because you're gonna have the exact same conditions happen another time and you won't have a flash crash, because that's how nonlinear systems work you can't quite explain it in the same sort of framework that we're used to. +* There's **the reason that the spoofing had that effect was because of years of regulation that have removed diversity from the markets** and **led to a latency race** and that **have fragmented markets** across multiple exchanges +* it's sort of environmental and regulatory and legislative and then there's also potentially a precipitating event, which is somewhat spoofing, but that's not necessarily the cause. + +**TL:DR 🦍 Summary:** + +* **Non-linear systems are not easily explained. Just because 1+1 = 2 is simple for apes to understand does not mean that this is the case for HFT systems.** +* **Complex,Non-linear systems as designed and described by Dave, ultimately are incredibly sensitive, and any number of factors can lead to flash crashes, not just manipulation, but this too isn’t out of the question.** +* **Boiled down, not even regulators can predict the impact that changes on these systems may have, and history shows that it can be extreme.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**FLASH CRASHES** + +* Jack + * Yeah, I found that interesting because, on several occasions, within GME, we've seen similar events that could be described as a flash crash, or worse, one that hasn't happened in March happened within 30 minutes, so we had nearly dropped from 345 to 173 with a volume of 72,000, or within a 30-minute gap. We also saw gap downs in price and all these are very, what I perceive as reflective of HFT manipulating the price. +* Dave + * So it doesn't have to be manipulative, when we think illiquidity contagions or flash crashes are like the things you've described sometimes it's just them pulling out. + * Right? So, **if 90% of the quotes in the market are from HFT firms some sometimes as high as 99%,** and suddenly the **volatility increases, or they take on too much inventory, and they need to stop trading, which is a lot of what happened during the flash crash proper in 2010, they'll just stop quoting, and as soon as they stop quoting suddenly that liquidity just starts disappearing**, and other systems, key on that and then they start pulling out and it's this positive feedback loop. + * So, I mean maybe. I'm not dismissing the possibility of manipulation because I see manipulation in markets, but sometimes it's also just sort of this feedback loop that gets away from itself. + +**TL:DR 🦍 Summary:** + +* **Jack mentions to Dave that GME has seen many events that could be considered a ‘flash crash,** ***such as the March fall in price from $345 to $173*****.** +* **Dave clarifies that crashes such as this may not be** ***inherently*** **manipulative, in that algos are just trading as designed. When 90-99% of the liquidity of a stock is provided by HFT systems; in the event of an increase in liquidity occurs or when HFT’s determine they hold too much inventory, they may be programmed to ‘pull out’ which can cause a snowball effect on other systems and crash the price.** +* **Notwithstanding the above, Dave does not discount that manipulation is an impossibility at all, but thinks it is important to recognize HFT systems can act on a positive feedback loop as described.** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**ORDER TYPES, NOT SO SIMPLE** + +* Jack + * Interesting. + * **Let’s talk about order types,** so personally, I've written a bit about order types before and basic market structure and the Wall Street Code which was a documentary that you're a part of the mentioned earlier, started to peel back some of these layers in regards to order types and HFT traders getting certain advantages over others. + * I'm particularly interested in the conflict of interest between exchanges and the non-retail side, and how there isn't any equality there. Why not provide retail with the exact same options as they do non-retail? Can I get your thoughts on that? +* Dave Lauer: + * So if you want to put this slide up I've thrown up an illustration from 2015 of the various order types that were available at NYSE Arca, NASDAQ, and BATS. + +https://preview.redd.it/3ek9rls33qx61.jpg?width=3832&format=pjpg&auto=webp&s=d9e485a41f7178917cb735de5270fa82960d9c87 + +* Dave Lauer + * So you can see, kind of how crazy this is right? As I said on Reddit, it's not Limit and Market. I was actually trying to post this picture but I couldn't quite get it to work in the comments. + * So, here's an + * “Add Liquidity Only Midpoint Passive Liquidity” order + * You've got an “Inter-Market Sweep Post No Preference” order + * “Display Limited Attributable Non-ISO” + * “Inter-Market Sweep Post No Preference, Immediate or Cancel” + * I mean, these are very complex order types. Most of them are many of them are often dictated by the biggest customers of the exchanges, which are those HFT firms + * And it's not just retail that doesn't make use of them. Often, large broker dealers trading for institutional firms don't make use of them the way they should. + * That has started to change. + * Do you know what an “Add Liquidity Only Post No Preference, Blind Order” would do? Because, **not even NASDAQ knew what it would do**, NASDAQ got fined because they had some crazy complex order type that was messing with the priority in a way that they had not even imagined. + * That was discovered, and self-reported but it's like… **That is complex things have gotten**. + * **So yes, the order types do advantage certain firms**. and there's no way around it. Part of that is again because of regulatory conditions like reg NMS, which has forced exchanges to connect to each other, and to provide the functionality to route to each other. Or to bypass that routing with these ISO orders because reg NMS said that if there's a price in the market, on a protected quote, that is better than the one on the exchange your sending the order to, you have to go take that price on the other exchange. + * **It's led to a huge amount of complexity.** + * I think things would be a bit **better if the market were simplified.** I think the market markets would be better with **fewer exchanges,** **non complex order types**. + * I don't know if much of this complexity is as beneficial as the costs of the complexity. + * You'll never get access to that for most retail brokers because most retail brokers are not sending orders to exchanges, sometimes they'll, they will send limit orders to exchanges, but they'll send it generally to whatever exchange will pay them. The highest rebate. + * You need to use a broker who would provide access to certain to these types of order types. + * So the only one I'm familiar with is Interactive Brokers, versus some of the other retail brokerage platforms. I haven't used a ton of the active trader platforms on the other discount brokers… So, maybe they do, maybe they don't. + * Many of them, for example won't even route to IEX, + * Which if you're posted on IEX with a delimit order or a delimit midpoint peg, you're getting similar functionality to what HFTs get. + * But of course, I am biased, I worked with the guys at IEX. I know them, I have owned equity in it, But I did so because I believed in it. I thought it was a good solution to the problem. + +**TL:DR 🦍 Summary:** + +* **The markets are becoming so over complicated with all these different types of orders, that not even the exchanges can keep up.** +* **NASDAQ has been fined in the past for not being able to keep up and understand the orders on their exchange.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**PAYMENT FOR ORDER FLOW** + +* Jack + * **That's a good transition into the Payment For Order Flow (PFOF) side of things.** So, it's no secret that RobinHood has kind of been popularized in this space, especially given their disclosures to customers last year getting started getting fined 65 million or so, but actually not quite understand + * What are some of the negatives that come out of that from the retail side? Also the impact on the market as a whole, due to PFOF? +* Dave Lauer + * Yeah, so let me show you a couple of quotes here. + +https://preview.redd.it/8a8x4gsa3qx61.jpg?width=3840&format=pjpg&auto=webp&s=14d5f926b11298f01a1b91855c8414746b29d2e2 + +* Dave Lauer + * **\*Reading from screenshot\*** + * These are obviously statements made before Citadel engaged in payment for order flow or before Jeff Sprecher, I think opened an IV. That was more recent than he bought it. + * I think the payment for order flow and the internalization of retail orders is terrible for markets, and the thing about **retail order flow is it's referred to as “uninformed”,** that doesn't mean that you don't know where GME is gonna go in six months or a year. You might have the best fundamental analysis in a long time-horizon. You are not informed about what is going to happen in the next 50 milliseconds. + * When you think of uninformed order flow it means, what is about to happen in the market as far as a high-frequency trading firm is concerned. And at that time-horizon is measured in milliseconds... maybe seconds. because of that **retail order flow is what market makers want to trade against, It's very profitable to trade against it.** + * That's why these market makers pay the retail brokers for it because they want to get that order flow. + * An interesting paper just came out that showed that the impact on markets is significant. That when you take that profitable order flow and you don't let it get to exchanges and interact with other orders on the exchange, you **can be affecting the spread by as much as 25%**, maybe more, but, but at least what they could quantify they saw that spreads would tighten by 25% if that order flow made it to markets, and then, everyone benefits. + * So we, we think, and I know, Reddit here thinks retail is active day traders trading through a discount broker, but I usually like to say that in fact, retail is the wealth of the nation or the wealth of the world it is mostly concentrated in mutual funds and pension plans. So you might have a small trading account that you're playing with, but your retirement. Some people, I mean, I know some of you have it locked up in GME**.** + * but for some people it's, it's in a mutual fund in an IRA or something, or 401k like that. And, and, to me, those are the refund to the ship, access to trade against retail orders on the exchange, like the rest of the world does. + * I think that this is an area that's going to get a lot of attention. Some bills are being unveiled in Congress that could completely change this I very much support. And I think that I am in favor of competition. So like I said, there are many times where I am a capitalist I believe in intelligent capitalism and well-regulated capitalism but capitalism nonetheless. I believe in open competition for order flow Get the orders on the exchange and let every hundred of market makers should be able to compete over that order flow, not just the developer. + +**TL:DR 🦍 Summary:** + +* PFOF is more trouble than it's worth. +* It has been shown that PFOF can be affecting the spread at much at 25% +* It is very profitable for a large firm to trade against/ ahead retail orders. I am speculating here, but this is likely why this is such an important fight for Citadel. We, the customer, are actually the product, just like with social media + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**DARK POOLS, INTERNALIZERS** + +* Dave Lauer: + * Along the lines of internalization and dark pools, I know that has been an area of a lot of questions on Reddit. + * This morning, actually I put a couple of charts together that I wanted to show. + * So, just to divert briefly. I want to talk about dark pools versus internalizers. +* Dave Lauer: + * These are two different things. + * And you can see that FINRA has an excellent website, [the OTC transparency website](https://www.finra.org/filing-reporting/otc-transparency) and you can see on the website: + * ATS (Alternative Trading Systems): those are dark goals; versus + * OTC (Over the Counter): those are internalized. + +https://preview.redd.it/ju14izye3qx61.jpg?width=3840&format=pjpg&auto=webp&s=445c3811e5207f71c7eb0e86070697caf029c842 + +* Dave Lauer: + * So here is GME last November (2020). a certain percentage is getting executed on exchange and a certain percentage is getting executed off-exchange-- + * Of the off-exchange volume, 89% of it in November was OTC (think Citadel). + * Versus March (2021), 87%. + * So not much change since 2020. + * Most GME volume is getting executed through retail channels and is being executed on the OTC market. + * So when you think “dark pools”, the thing about, and where one of the confusion might lie, is when a trade executes off-exchange either OTC or in the ATS, it is still printed to the tape to what's called the trade reporting facility. + +https://preview.redd.it/mqa92bgi3qx61.jpg?width=3825&format=pjpg&auto=webp&s=c9274348062103a0b99947ab261d886dbccfc22c + +* Dave Lauer + * And I have up here, the market share. + * Generally, in the market of the lit exchanges, all these are lit exchanges versus one of the TRS, one of the trade reporting facilities, this one's NASDAQ + * for some reason, NYSE got cut off of this chart + * but there is an NYSE TRF that was something like 7% + * So what that showed was 40% of volume was executed off-exchange reported to the TRS + * **So every time Citadel internalizes a trade, it gets printed publicly, every time, Goldman Sachs or Morgan Stanley, or JP Morgan execute a trade in their dark pool, it still gets printed publicly.** + * You don't know who was the aggressor or anything like that but you know the quantity and the price that is executed at. + +https://preview.redd.it/ug6m6q6k3qx61.jpg?width=3840&format=pjpg&auto=webp&s=b31478d9ae7209d60729639930fe02d527915631 + +* Dave Lauer + * So now if we go back quickly to ATS versus OTC. + * What I wanted to show was even though nothing has changed much in terms of where the trading is taking place, even a little less OTC but that's probably just normal statistical noise. + * What *has changed* is who's trading on the OTC market. + +https://preview.redd.it/pdbv85un3qx61.jpg?width=3835&format=pjpg&auto=webp&s=12775dc7ea1bc7c74c4e5df8d2b83693d5cc4535 + +* Dave Lauer + * **So in November, it was predominantly Citadel with a little Virtu and an even little more G1X** + * **This is market share, you can see that accounts for almost 85% of all OTC trading, and the rest is a bunch of smaller internalizers** + * And then it peaked for Citadel in January + * But what we've seen since then is actually Citadel’s market share in GME has dropped significantly and so has G1X, and Virtu has really taken over + * At the same time, the average trade size that's being executed OTC has *plummeted*. + * **This was honestly really astonishing to me.** + * I guess this is probably the Robin Hood effect or the retail effect. + * But you can see in December, the average trade size for Citadel was relatively high, it was around 350 shares and for Virtu it was around 200, and a little over 250 overall. + * **And since then in January, I mean, these, these** ***dropped to under like 40 shares average trade size*****.** That was really shocking to me. Part of that has been the price increase, absolutely. + * But at the same time like an average trade size of **40 shares is extremely small.** I don't know what to make of it necessarily but I thought it was an interesting sort of data point to highlight. I just wanted to show that. +* Jack + * So for Citadel, it’s been decreasing since January. Does that suggest that they're also increasing in off-exchange? +* Dave Lauer: + * **No, so this is: how much are they trading off-exchange, but this is just OTC, not ATF-- not dark pool. But I don't think Citadel is a material part of the ATS trading in GME.** + * I looked at it briefly and I saw a lot of it was Interactive Brokers so when they internalize they're printing on an ATS, not OTC, and they invite other firms to come into the ATS. + * That's one of the differences when you're trading or printing OTC versus plugging ATSs. + * Other firms can trade in a dark pool, whereas OTC they're not. +* Jack + * That’s interesting. I think a lot of DD that we talk about, talks about **dark pools actually suppressing retail buy pressure on a stock's price. What's your view on that?** +* Dave Lauer: + * Yeah, **I'm not sure of the mechanism for how that would work**, because like I said, even if you're trading in a dark pool that trade is printing to the tape. + * I think that if you can-- I mean, technically you can't know that there are offers on the dark pool. That's why it's called Dark-- that's the whole thing. + * So, if there's this wall of offers at 180, you're getting all these orders coming in on your retail channel and you want to keep it from going over 180 for whatever reason-- + * I'm not sure of the mechanism that you would use to print that off-exchange. + * I think from that perspective, I am sorry to say, I didn't find that analysis to be compelling, and I could be wrong, but I think: **you don't need the dark pools in that equation you can:** + * **layer orders in the market;** + * internalize it, + * because when you're internalizing orders you're internalizing them within the NBBO which you don't necessarily control. + * But if you want to control it, you have to do that on the lit market, not in the dark pool. + * The dark pool, legally, can only execute within the NBBO. +* Jack: + * I think where a lot of us come from, in terms of implying that assumption that it doesn't actually affect or does suppress retail blood pressure through routing through code is that I think a lot of the research suggests that large mutual funds will place their orders on dark pools to avoid say increasing the price or decreasing necessarily. +* I think that's kind of where that came from, but they have that restriction of executing within the NBBO, it doesn't really have that, is that right? +* Dave Lauer: + * No, it does and it's absolutely true that institutions use dark pools. + * If I want to buy a million shares of GME. it would be a big mistake if I just hit the market with a million shares, right? + * I'm going to really, I'm going to exhaust all of the standing offers that price is going to go crazy. + * That's not getting the best execution. + * Instead, if I want to buy a million shares first I'm probably going to send maybe half a million to one broker half million to the other, they're going to take that half a million and sit them in their dark pools, so that nobody knows they're there but if sellers come along, then they're going to hit my bids and I'm going to start buying little by little and then those brokers are also going to algorithmically be routing them all over they might be pinging Citadel and pinging Virtu and others. + +https://preview.redd.it/hq502vvt3qx61.jpg?width=3840&format=pjpg&auto=webp&s=afd2fd1245a528cd1502c2db664398acb88e1287 + +* Dave Lauer + * This slide shows you the complexity of the market, right? + * This is what I'm doing, I am trying to navigate this complexity, to get the best price that I can while leaking the least amount of information possible. + * if I were just to post that giant order on the lit exchange, that's complete information leakage. So that's a very good and reasonable use of dark pools. But again, you cannot trade outside of the NBBO. That is the rule in US markets - Rule 611 I think. + * It's the backstop for best execution is what's generally referred to as. You cannot get outside of the protected quote. +* Jack: + * I think that's a good takeaway. Well, I look forward to some of the DD that comes out of that comment, I'm sure. +* Dave Lauer: + * And I'll be happy to read some of the posts and if there are specific questions. + * **I'm always interested in learning more, I mean if there's a mechanism by which someone thinks they've figured out how they can suppress the price through dark pools, I’d be really interested in that, because it would directly impact some of the analysis that I do.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**IEX** + +* Jack: + * So, one last question I want to end on is, where does IEX fit into this? + * So from our perspective, a lot of the features that were built on IEX were built to benefit more of the mutual fund side of things. + * And then I've seen recent talk about retail coming along. + * Could you help describe some of the positives at IEX works for retail? +* Dave Lauer: + * Yeah, so for retail, you can get mid-point executions on IEX. It's free for retail trade on IEX. They've really tried to do what they can to incentivize the retail brokers to come to them. + * It doesn't mean that they are, because there are really fundamental conflicts of interest at work in markets in terms of **payment for order flow** and other issues. + * **you can tell your brokers, and you should tell your brokers, if you want to trade on IEX, and that they should route to IEX** + * When Flash Boys came out, it created a real uproar, and it helped to a certain extent but then it died away. Maybe now this is the second wave of it. + * Look, I wouldn't have gotten involved with IEX if I didn't believe what they're doing. + * I'm not involved in any way with them anymore, other than that, I still have some shares leftover. I don't want to *not* disclose my biases, I mean I sit on the board of Equitoss in Canada which also has a speed bump and it also is designed for investors not high-speed trading firms. + * So I believe that is a model that can work and can protect investors. + * I’ve seen one of the questions: What was the original design goal of IEX? + * And the philosophy was actually relatively simple: + * **the exchange should always be faster than the fastest participants, the exchange should always know what the price is in the market.** + * **if that price is changing, the exchange should know about it before, the highest speed participants know** + * And the reason really came down to pegged order types. + * If firms are faster than the exchange, they can take advantage of pegged order types, and they can pick off stale orders for a relatively low-risk arbitrage. + * Whereas, if the exchange is faster than its fastest participants, that repricing for peg order types will always happen before those high-speed firms can adapt and pick off stale order types. + * So that was why the 350-microsecond speed bump was put in place because that seemed like a good time for the exchange to be able to receive market data from all the other exchanges, update its price, and shift before other firms could come in and pick off stale prices. + * I think that kind of protection is valuable, I think execution quality in IEX is very high, and we've seen the same thing in Canada with Equitas Neo. + * I'm a believer in the model. **I'm a believer in the idea that you shouldn't offer rebates to attract liquidity and IEX does not do that.** + * I believe that if you believe those things, then supporting IEX is worthwhile and that you can go to your brokers and you can give them instructions. + * And brokers, according to FINRA rules 5310 (I think), have to abide by those instructions. Not all brokers will, they'll say we're not connected or we don't do that but if they start hearing from a lot of people that can help to change things. + +**TL:DR 🦍 Summary:** + +* **IEX has a lot of functionality that can make for a better retail trading experience.** +* **If IEX is something that you are interested in trading on, then contact your broker and let them know** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**WHAT CAN WE DO?** + +* Dave Lauer + * There have been questions about **what can we do** and to me this is one of those things that we can do. + * Another thing is you can just continue to make your voice heard, **you can file comment letters with the SEC or FINRA, that's an excellent way to get involved**, they do read them and **they do listen to well thought out comments, or well-researched comments.** + * You can contact your members of Congress because these bills that are going to come up are going to be controversial and they need to hear that there are people out there that support them, for good reasons. + * You can make use of the SEC and Office of the Investor Advocate who is there to advocate on your behalf and is often focused on institutional investors but would probably like to hear more from retail. + * And Gary Gensler I think in his testimony before Congress is going to say that they're requesting public input on some of these exact issues. + * So I think getting involved like that is just an *excellent thing*. + * It's great to have more involvement and more perspectives in this market structure debate, versus most of the people that are involved generally work for the high-frequency firms, the exchanges, the broker-dealers + * There are very few of us out there who are not beholden to one of those types of firms and who are making money, actively, off of the current market structure. + + +**TL:DR 🦍 Summary:** + +* MAKE YOUR VOICE HEARD + * Reach out to the SEC, members of Congress, FINRA + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**FINAL QUESTION AND GOODBYE** + +* Jack + * The last question, I swear, and then we'll wrap up. + * So you just mentioned that the rule is to uphold the NBBO. But what happens when they don't, is it actually possible that they don't uphold that rule? +* Dave Lauer + * So, yes, there is a percentage of trading that does take place outside the NBBO. + * That can happen if the size at the NBBO is not enough to satisfy the order size. + * So yeah, I shouldn't say that it never happens, it does happen under those conditions. + * But generally speaking, it does not happen outside of those conditions + * So maybe what you’re thinking: If you see a dark pool print, and it's like off the NBBO, there is a reporting deadline, I think it was shortened to 10 seconds, which means that I can trade at this price, and now prices have shifted, I have 10 seconds to report to the tape so the problem is sometimes the trading feeds from the dark pools is not always aligned with the quote feed from the exchanges. + * It can look sometimes like there are prints that are happening outside of the NBBO but that didn't actually take place. + * It is a pretty serious thing. + * I know that FINRA gives report cards to firms measuring their Rule 611 performance, and they are always looking to see if you are trading outside the NBBO, and when it's a very small percentage of the time that happens, and when it does, there's usually a reason behind it. +* Jack + * And is it only a fine associated with it, or is it in most cases a slap on the wrist, telling them “make sure this doesn’t happen”? +* Dave Lauer: + * **Well, I mean, most fines are unfortunately just slaps on the wrist.** + * **That’s sort of the corruption inherent in the system, the Revolving Door which we haven't even touched on, and kind of is the source of most of these problems.** + * **But yeah I mean fines on Wall Street are generally nothing compared to the damage that they've caused, and most of the time is just seeing that the cost of doing business.** + * **And I think we just see that over and over again in every way, whether it's the great financial crisis or the mortgage crisis, to test execution violations.** + * **These kinds of issues, and even their best execution is hard to enforce.** + * **I heard the quote from a regulator that trying to enforce the best execution is like trying to nail jello to a wall.** + * It's something that they really struggle with and it's a shame because you have so much data now that from a data science perspective it should actually be easier but you need a different level of sophistication to analyze that kind of data. + * I think regulators have struggled with it + * **So that's my soapbox of: increase the fines and send people to jail and I think you would see dramatic changes in behavior.** + * As long as it's just the cost of doing business and not, not speaking specifically to trades outside the NBBO, because again I don't think that happens much. + * But generally speaking, when firms are fined it doesn't recognize the damage or it often doesn't disgorge profits to the extent that it should. +* Jack + * We’ve seen in South Korea where we've seen 100 percent naked shorters come through *\[Luri: can someone confirm with Jack what he’s saying here? I can’t quite catch it\]* +* Dave Lauer: + * Year, great idea. I very much love what they're doing there and I think it's a real problem here and I would really like to see those kinds of little changes in the US. +* Jack: + * Well, we’ll leave it at that and give it a wrap here. So thank you so much for joining us, Dave. +* And thanks to all the viewers for coming around and spending time with us. +* Dave Lauer: + * Thanks for having me, I appreciate it. I loved it. + * People care about this, it's fun to talk about it. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +\*PHEW\* That was an action-packed AMA… ending right at 69 minutes (Good Job u/jsmar18). I hope that you guys are finding these AMA transcript/summaries helpful, they are a lot of work to put together but it feels worth it. + +&#x200B; + +['I'M HELPING'](https://preview.redd.it/xt6vycvw3qx61.jpg?width=332&format=pjpg&auto=webp&s=dea94768bd871ea3b96e1d45014df125540d4c81) + +If you have any feedback for what you would like to see in these, let us know! I may not respond to every comment, but I am definitely reading most of them. +Cheers, +B\_T +The U.S. and the rest the world are in dire need of a bigger workforce, but there are difficulties in hiring. Could this mean big growth in the valuation of companies that simplify the hiring proces and manage to connect workers with employers? + +I don't know a lot of companies myself that offer a solution. The only thing that comes to my mind are Indeed (private), small outsourcing bureaus (private) and Upwork (overvalued as far as I've heard) + +What are your thoughts on the potential of these companies that connect employee with employer? Who is currently dominant in this space and who could become dominant in the future? +(Bloomberg) -- Chinese oil demand has dropped by about three million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry. + +The drop is probably the largest demand shock the oil market has suffered since the global financial crisis of 2008 to 2009, and the most sudden since the Sept. 11 attacks. It could force the hand of the OPEC cartel, which is considering an emergency meeting to cut production and staunch the decline in prices, which are headed for the lowest close in a year. + +China is the world’s largest oil importer, after surpassing the U.S. in 2016, so any change in consumption has an outsize impact on the global energy market. The country consumes about 14 million barrels a day -- equivalent to the combined needs of France, Germany, Italy, Spain, the U.K., Japan and South Korea. + +Chinese and Western oil executives, speaking on condition of anonymity because they aren’t authorized to discuss the matter publicly, said the decline was measured against normal levels for this time of year. It’s a measure of the current loss in demand, rather than the average loss since the crisis started, which would be smaller. + +Beijing has locked millions of people in quarantine and the New Year holiday has been extended. Flights have been canceled and authorities across the globe are trying to contain the virus’s spread. China’s central bank, seeking to avert a sell-off when markets open on Monday, is taking measures to boost liquidity. + +The collapse in Chinese oil consumption is starting to reverberate across the global energy market, with sales of some crudes slowing to a crawl and benchmark prices in free-fall. Sales of Latin American oil cargoes to China came to a halt last week, while sales of West African crude, a traditional source for Chinese refineries, are also slower than usual, traders said. + +Chinese refineries are storing unsold petroleum products such as gasoline and jet-fuel, according to the executives. But every day stockpiles are growing, and some refineries may soon reach their storage limits. If that were to happen, they would have to cut the amount of crude they process. One executive said that refinery runs were likely to be cut soon by 15-20%. + +Traditionally during the New Year holiday, gasoline and jet-fuel demand increase as hundred of millions go back home, while gasoil consumption drops as industrial activity slows. + +The price of Brent, the global oil benchmark, has fallen about 14% since Jan. 20, when financial markets first took notice of the magnitude of the health crisis in China. The April contract extended losses in early Asian trade on Monday, dropping 1.3% to $55.88 a barrel in London. A close at that level would be the lowest since January 2019. + +Beyond the headline price for Brent, every other indicator in the physical and derivatives market also points to a weakening market. So-called time-spreads, which measure the price difference between contracts for delivery at different times, have collapsed -- an indication that short-term demand is expected to remain weak. + +OPEC Meeting + +OPEC and its allies, which include Russia, are weighing their options to respond to the crisis and there have been discussions about calling an emergency meeting. Saudi Arabia is pressing for a gathering sooner than the one scheduled for March 5-6, though it has run into resistance from Russia. The Saudi and Russian oil ministers spoke on the phone for an hour on Thursday and another 30 minutes on Friday, according to Russians officials. + +For now, OPEC has called a technical meeting this week to assess the situation, and the Joint Technical Committee will report back to ministers. + +According to consultants at Energy Aspects Ltd., OPEC is considering an informal proposal to deepen current production curbs by about 500,000 barrels a day. But there’s no consensus on the idea, which was floated by at least one country. As OPEC and its partners are already in the midst of steep cuts, many analysts are skeptical on how much more they’re willing to do. + +The most recent agreed reductions only came together after considerable diplomatic wrangling, and Saudi Arabia has already slashed production to the lowest since 2014. Russia, which has become the most important producer in the coalition alongside the kingdom, has typically taken some persuading to sign up to additional cuts. Still, if the alliance does agree to call early meeting, historic precedent suggests it will probably result in action. + +“Nothing concentrates a producer’s mind more than the prospect of a crude oil price bust,” said Bob McNally, president of Rapidan Energy Group, and a former White House oil official under President George W. Bush. + + +https://www.bnnbloomberg.ca/china-oil-demand-has-plunged-20-because-of-the-virus-lockdown-1.1383749 +Holy shit. My mom came into my room to bring me a plate of chicken nuggets and I literally screamed at her and hit the plate of chicken nuggets out of her hand. She started yelling and swearing at me and I slammed the door on her. I’m so distressed right now I don’t know what to do. I didn’t mean to do that to my mom but I’m literally in shock from the earnings call tonight. I feel like I’m going to explode. Why the fucking fuck is TSLA down? This can’t be happening. I’m having a fucking breakdown. I don’t want to believe the world is so corrupt. I want a future to believe in. I want Elon to be president and fix this broken country. I cannot fucking deal with this right now. It wasn’t supposed to be like this, I thought they were producing 5K Model 3s per week???? This is so fucked. +I won't even tell you guys how little cash I have – it's ridiculous. Luckily, with some planning, I should be able to remedy that during 2015. So I'm looking around on the interwebz, trying to nail down a "cash goal" for 2015 and came across a 3-year old /r/worldnews post: ["Marx was right: capitalism can self-destruct". Economist Nouriel Roubini says the risk of a global recession is greater than 50%, and the next 2 to 3 months will reveal the economy's direction. Roubini also says he's putting his money in cash. "This is not the time to be in risky assets," he says.](http://www.reddit.com/r/worldnews/comments/jgq3y/marx_was_right_capitalism_can_selfdestruct/) + + +I suddenly VERY CLEARLY remember 2011. Constant chatter about the imminent double dip recession; headlines were as doom and gloom as the year before. Reminds me of #30 on [this list](http://www.businessinsider.com/things-everyone-should-know-about-investing-and-the-economy-2014-12): ***The phrase "double-dip recession" was mentioned 10.8 million times in 2010 and 2011, according to Google. It never came. There were virtually no mentions of "financial collapse" in 2006 and 2007. It did come. A similar story can be told virtually every year.*** + + +Mid-2009 I was flat broke with $60k in student loans. Many friends and peers were seriously spooked; they wouldn't have anything to do with investing or the stock market. (Some liquidated! wtf.) I'd just relocated to Ohio for a decent-paying job and seeing the shitty, shitty market I asked myself: *I wonder if I can hit the $16.5 max 401(k) contribution in 6 months...* It wasn't easy; I postponed paying off my loans, lived frugally, worked a 2nd job. And I didn't tell anyone. + + +That $16.5k I crammed in the latter part of 2009 is now worth what, $25k? $30k? Since then, through budgeting and frugality, I managed to pay off all debt and continue with the retirement contributions. I'm leaning toward 1/2 of my non-retirement money being cash. After 5 years of not-bad-to-awesome, if 2016 is at all nasty, I want to have some cash to BTFD. (And obviously emergency fund and all that.) + + +Just my long-winded reminder (to myself, really) that no one really knows anything. *Especially the press.* (I'd love to see returns from doing exactly the opposite of what financial headlines say to do.) + + +**tl;dr: Knowing that I'm pretty low on cash, I'm looking to the internet for context for a savings plan, stumbling onto 3 year old articles and realizing (once again) that no one really knows anything.** + + +This Shiba pump has just got me feeling down. + +It's sad how many retail crypto traders and average joes are FOMOing right into the plans of every whale who has now quadrupled their bets in a matter of days. When you try to play the market to make a quick buck with no fundamentals to back it up, you are likely the one actually getting played. Everyone on this sub puts so much effort into bitching about how the rich get richer and that crypto is the way to break out of the extreme wealth gaps in the modern world. Well congratulations, you are accomplishing the complete opposite in buying shib. This is quickly becoming a pyramid scheme esque pump that only serves to inflate the wallets of whales and seriously harm the reputation of crypto as a legitimate technology. + +Which of you are going to be the ones left holding the bags? +Let’s say I bought $100k of voo and sold it for $80k. Thus I have a tax loss of $20k. Next I buy $80k of vti and never sell. By the time my heirs inherit it, it’s worth $500k. Would this mean I get a free $20k tax loss harvest and totally avoid capital gains? +So apparently, a lot of my friends back in the village are investing (or throwing it away) their hard earned money into this pyramid scheme called My Club Trades. They are promising 1% return everyday or some shyit and many of them are even receiving the promised income regularly. + +How do I convince them that this is possibly a scam, a pyramid scheme in fact, which will eventually wind up and vanish into thin air? Or am I the wrong one here? +As the year ends, I'm evaluating if stock picking is even worth the effort. + +I started around March 2014, after XII exams. Got lucky in 2014, and almost every pick (mostly small and mid-caps) went up 50-60%. + +2015 was useless, mostly lost previous year's gains and new buys are flat. + +2016 was okay, made some small gains here and there. Most of my original holdings from 2014 are down from their 2014 highs, and haven't appreciated as much as I hoped. But fundamentals are still fine, so I'll hold on. + +Did a calculation today, and CAGR of past 3 years is coming to 14-15%, which I would have got from mutual funds anyway. I'm going to start working soon, and I won't have as much time as I have now to keep researching. Should I switch to increasing SIPs in MFs? + +Sensex is roughly 9% CAGR over same period. + +What are you guys averaging over 5 or 10 years? + +I figure I need to be at at least 20% over 10-15 years to see WEALTH creation. + +You can discuss something like these, ITT: + +- Which fund houses are you currently investing with? Why did you invest in the funds? +- Reviews on the funds offered by the fund house? +- Provide your opinion on the investment services offered by the fund house. Do you avail their instant redemption features of the liquid funds? Do you use a "smart" SIP offering? +- How easy it is to navigate & use their app / websites? +- Does the fund house provide periodic communication regarding the markets, fund performance and strategy? +- What PMS scheme / AIFs are you currently invested in, if any? Why did you choose it? +- What does the PMS / AIF fee structure look like? +- Does the PMS manager provide periodic communications regarding portfolio selection and performance? + +--- + +You can ask for general review of a particular product or service that you are researching - _"What is the investing style of fund X? Is it recommended for long-term retirement needs?"_, but **avoid asking for personal advice**. + +The discussion is for consumption by a broader audience, not just specific to you. + +For advice regarding your personal situation (like "I have 25L saved up currently for retirement purposes in 30 years. What fund / PMS / AIF should I choose?"), the bi-weekly advice thread is recommended It's stickied at the top of the subreddit. + +Personal advice queries and comments will be removed to ensure that older threads provide sufficient historical reviews on products and services. + +Reviews posted here can be relied upon by newcomers to evaluate customer experience. Please confine the discussions only to reviews or requests for reviews of products and services. + +[Link to previous threads](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new) +[Link to pdf](http://www.ccsales.com/the_richest_man_in_babylon.pdf‎). + +EDIT: http://www.ccsales.com/the_richest_man_in_babylon.pdf + +[Link to Full Length Audiobook](http://www.youtube.com/watch?v=kg0j3CK6Gh4‎). + +We encourage all our visitors to ask those investing related questions they were always too afraid to ask. This thread will be moderated, to ensure it remains free of harassment and other undesirable behavior. + +The members of /r/IndiaInvestments are here to answer and educate! + +If you are looking for which brokerage to use, which fund house is more capable and trustworthy, which investing platform to use, which insurance company is reliable etc., you may want to read the reviews for [banking and financial services](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20banking%20services%20and%20products&restrict_sr=1&sort=new), [mutual funds and asset management services](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new), [brokerage products and services](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new), and [insurance products and services](https://www.reddit.com/r/IndiaInvestments/search/?q=flair_name%3A%22Reviews%22%20%22Reviews%20of%20Insurance%20products%20and%20services%22&restrict_sr=1&sort=new). Generally speaking, there is no best company, or fund, or bank. Answers are always subjective to your personal needs, but those threads a starting point for you to look at what other Redditors have to say about a company, product or service. You, may then ask a more specific question about what product or service to buy, once you are able to frame your personal situation. + +**NOTE** If your question is "I have 10,000 rupees, what do I do?" or anything similar. There is no single answer to this question, but we will also need A LOT MORE information if we are to give some sort of answer + +* How old are you? +* Are you employed/making income? +* How much? What are your objectives with this money? +* What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know its 100% safe?) +* What are you current holdings? (Do you already have exposure to specific funds and sectors?) +* Any other assets? House paid off? Cars? Expensive partner? +* What is your time horizon? Do you need this money next month? Next 20yrs? +* Any big debts? +* Any other relevant financial information will be useful to give you a proper answer. + +Be aware that these answers are just opinions of Redditors and should be used as a starting point for your research. You should strongly consider seeing a registered financial rep before making any financial decisions! + +Previous Threads [Links](https://www.reddit.com/r/IndiaInvestments/search/?q=%22bi-weekly%20advice%20thread%22&restrict_sr=1&t=all&sort=new) +I have setup an SIP in kuvera for Nippon India liquid growth plan with upcoming sip on 6th April. I wanted to skip the coming month's sip, so when i selected their skip sip option it says "SIP modification not permitted as next installment is already queued." So how early does this queuing happen and who queues this , kuvera or amc? +I have been using Tijori finance for a year now and today on going through its website for research found that they are moving to a subscription based model. + +Any alternatives to it. Dont really wanna pay 650 rs for something i use only on weekends. + +[https://www.tijorifinance.com](https://www.tijorifinance.com/) +Have a look at this graph: + +[https://imgur.com/a/M88c2Li](https://imgur.com/a/M88c2Li) + +[Value Research page](https://www.valueresearchonline.com/funds/12498/motilal-oswal-nasdaq-100-exchange-traded-fund?utm_source=direct-click&utm_medium=funds&utm_term=&utm_content=Motilal+Oswal+NASDAQ+100+ETF+Reg&utm_campaign=vro-search#fund-performance) + +I understand that the price differs from the NAV, but why was there such a large deviation? It was trading at almost a 20% premium at times. Interestingly this had not happened previously in the last 10 years. Do we expect such an error to repeat in the future (assuming that it's not random and we are able to identify a cause)? +It's that time of the month. Some of us just received cash from salary or business income. What are you planning to invest in? What did you sell, and why? If you are continuing to hold onto existing investments, what are they and why do you hold them? Are you avoiding anything? Again, why? + +The discussion is not just for individual stocks of companies, but also for mutual funds and other investments. Feel free to share your investment rationale. This thread does not exist not only for disseminating knowledge on investment decisions (the why?). Others are free to assess your rationale. + +Be aware that these answers are just opinions of Redditors and should be used as a starting point for your research. None of this is investment advice or a stock recommendation. Kindly do your due diligence and/or consider seeing a registered investment advisor before making any financial decisions! + +Previous [Links](https://www.reddit.com/r/IndiaInvestments/search?q=monthly+discussion+thread+&sort=new&restrict_sr=on&t=all) + +PS: Be friendly. Be civil. +I don't have any knowledge about investment in stock. But whatever I read about investment , I came to know that SIP OR Mutual funds are safest then investing individually in stocks. + +I don't understand that why still people do that .please explain. +I don't have any knowledge about investment in stock. But whatever I read about investment , I came to know that SIP OR Mutual funds are safest then investing individually in stocks. + +I don't understand that why still people do that .please explain. +I’m trying to consolidate my portfolio and thinking of moving about 10-20% of my portfolio in a low volatility fund. I’ve been interested in the philosophy of PPFAS equity fund for a long time but I just haven’t been able to get myself to put money in it. +While I respected Mr Parag Parekh, how is the fund doing after his demise ? How is this fund different from its peers like, say, Quantum LTE? Worth locking in funds for almost 5 years (exit load before that). The track record seems to suggest the fund beats the nifty by a couple of points so is that good enough ? +Lots of questions, but I’d really like to hear from people who’ve invested in this fund and have seen a few years of it. +Also, because of the exit load structure, does it really make sense to SIP into it? I have some money coming in and am actually thinking of doing a lump SUM investment into whichever fund I decide to. +It's that time of the quarter again. It's an extremely crucial earnings quarter for the market because over the last 12 months the markets have rationalized poor earnings (resulting in a high P/E) saying they were due to demonitization and GST. + +The market expects this quarter to be a stellar one for FMCG because of the low base (due to demon). IT & Pharma expect to be muted. Auto should show positive signs of recovery. Real Estate should be picking up and commodities should crush expectations. + +ICICI has nicely compiled their expectations from all covered players here : http://content.icicidirect.com/mailimages/IDirect_ConsolidatedPreview_Q3FY18.pdf + +Which results are you most looking forward to? + + +You can find the calendar here : http://www.moneycontrol.com/markets/earnings/ + + + +How to create an emergency fund? + +I want my emergency fund to support me for 6 months of my expenses. + +Assume my expense is 30k per month where can I put my money? +It's that time of the month. Some of us just received cash from salary or business income. What are you planning to invest in? What did you sell, and why? If you are continuing to hold onto existing investments, what are they and why do you hold them? Are you avoiding anything? Again, why? + +The discussion is not just for individual stocks of companies, but also for mutual funds and other investments. Feel free to share your investment rationale. This thread does not exist not only for disseminating knowledge on investment decisions (the why?). Others are free to assess your rationale. + +Be aware that these answers are just opinions of Redditors and should be used as a starting point for your research. None of this is investment advice or a stock recommendation. Kindly do your due diligence and/or consider seeing a registered investment advisor before making any financial decisions! + +Previous [Links](https://www.reddit.com/r/IndiaInvestments/search?q=monthly+discussion+thread+&sort=new&restrict_sr=on&t=all) + +PS: Be friendly. Be civil. +I am noticing this consistent change in food habits where more and more people are eating non-vegetarian food more regularly. I am pretty convinced that this is an aspirational, secular trend and would hold for a long time to come. The upside can be gauged from the fact that in some states, the consumption is as low 3 eggs per annum per person. + +The trick lies in identifying ambitious, well-managed companies. I looked at few poultry companies. + +* Venkateshwara Hatcheries: Listed but probably not doing too well. Bought a London football club! +* Suguna Foods: The largest company is not listed. Founders seem ok. +* Godrej agrovet: Not listed. Growing well. An IPO may be on the card. + +if you hear anybody say "stocks have been crashing!!", they're uninformed. 2020 was a stock market crash. 2022 is a bear market. there's a difference. it may be a crash for some people when the S&P 500 is down 20% and their portfolio is down 40-70%, or even 80%+, but this is just with very speculative or leveraged positions. The bear market has just "officially" started earlier last month. the market (S&P 500) hasn't priced in a recession at all, which could end up seeing things down another 15%-25%. It's currently pricing in a "soft landing", but if this recession turns sour, then you'll realize that [since 1929, S&P 500's average bear-market decline stands at 33.5%, according to Dow Jones Market Data. The median drawdown comes to 33.2%.](https://www.google.com/amp/s/www.kiplinger.com/slideshow/investing/t052-s001-8-facts-you-need-to-know-about-bear-markets/index.html%3famp) + +I believe 2021 caused a lot of people to think if stocks go down at all, that's considered a "crash", and 2020 caused people to believe bear markets last one month before recovering to an all time high and then some. This is not the case. I really roll my eyes when people say a 20% decline on the S&P 500 over the course of 6 months is a "crash". let's not be overdramatic here. +# Post too long, here is TLDR: + +Efficient market hypothesis sucks balls because GME is being traded around it's SI rather than it's performance. Overall market go poo poo if theory is true once dividends populate. You go homeless. I go homeless. Death from starvation. + +&#x200B; + +&#x200B; + +GameStop's share price is **completely void of the company's performance.** + +There is no mathematical financial model for measuring (let alone forecasting) this motive fueling GME's price-movement. I can't think of a stock to-date that has ever been valued this way. Meaning, value found in the stock pertains to new information about it's speculated SI let alone it's SI borrow rate. + +Remember all those important ratios that tell us about a companies performance? *Useless*. Even better are option prices--which for most days, are *hysterical*. The average cost for call options usually equal the cost for puts with rarely ever a one-sided sentiment because too many people are assigning value to it's SI rather than the company's performance. BIG PICTURE, nobody knows where the hell this thing will go each day. If people by the dozens are buying this stock based on speculation around information not just separate from GameStop's performance, but a whole other company's activities, doesn't this make CAPM and other models around return obsolete? *I mean, this is speculation on a massive scale.* Speculation around private information that is no less private than it has been since day one. + +To narrow this, EMH doesn't account for **any other alternative motive besides the company's performance** and or actions tied the federal reserve. *This is how the market SHOULD work. This is the market structure assumed to be in place not just for EMH, but for most investors/traders.* Price instead is valued around SI populated daily from [iborrow.com](https://iborrow.com) where, once the price drops to a certain point and borrow rates go up, institutions + retail will unload the buying turning returns (eventually) into a cyclical time trend. + +This isn't to say EMH doesn't account for short-selling (ss) or that ss is bad, but instead, *how out of control abusive naked short selling can get which for GME, if true,* ***is VERY bad***. We'll find out come June 2022 once dividends are official. If it's true, a cancerous bubble might pop bringing the whole market down with it. Mass-wide margin calls will be made to keep banks up afloat which will end in liquidation equal too (maybe greater) than 2008. This would literally justify why wall street was having a melt-down from what spawned in this sub. A years worth of shorting the stock plus more all because Citadel refused to take the L that came from Melvin's doings by shorting the stock a 140%. That and nobody is buying the reported SI from FINRA. Not when $50k for "egregious behavior" are assigned for misreporting data. It's like the equivalent of stepping on Legos for punishment of destroying the economy. + +The markets crashing in the event this bubble pops will likely be the ***least of anyone's concerns anyways.*** This is because *not a damn soul* will be dumb enough to give wall street their hard-earned money again. Not when market makers have the leverage they do to bring down the economy and everyone else's money over fucking GAMESTOP! Markets will become vastly illiquid simply because regulation doesn't regulation shit and putting your money into the markets is now a suckers game--just like playing slots. Everyone from the SEC, CFTC, market-makers and even institutions not involved will all lose the needed trust of the American people which as of now, is equivalent to nicking a main artery. Not a single American will accept "more regulation" as an answer for soundly regulating the markets. If the government cares to have a functioning market, functioning economy, you'll need the trust of the middle-class which likely means one thing: Prison for everyone complicit or nothing. + +Anyways, this is my ted talk, I appreciate ya if you took the time to read this. I will be presenting this (plus more) next week in front of 2,000+ people downtown Chicago 10 minutes away from Citadel. + +(gonna be kinda awkward) +Rubic (RBC) + +*Binance Smart Chain implementation on 28th. + +*Top/big exchanges will be contacted in Feb/March + +*Fully anonymous cross-chain swaps + +*Working L2 on Matic network at rubic.exchange (fast and dirt cheap swaps) + +*Will add Loopring and ZK-snarks support in the future + they are working on their own L2 solution. + +*Team is hiring and expanding + +*RUBIC CEO OLD PROJECT MYWISH: +--------------------------- +MyWish helped NEO get started: +https://cryptomywish.medium.com/new-neo-testnet-dee965b301f6 + +MyWish helped EOS with token airdrops: +https://bitcoinexchangeguide.com/eos-and-mywish-crypto-investors-make-sure-to-claim-eosish-airdrop-tokens/ + +*The team has kept MyWish going despite of 2018 crash and bear market + +*Farming/staking the RBC token in the future + +*Team conducts buybacks + +https://cryptorubic.medium.com/ +❗**HEADS UP**❗ + +We are having an AMA session in an hour. You can watch it live here: +Twitch [https://www.twitch.tv/memestoken](https://www.twitch.tv/memestoken) +Youtube [https://www.youtube.com/channel/UCJXe8h\_hd1EB34Z34eahidA](https://www.youtube.com/channel/UCJXe8h_hd1EB34Z34eahidA) +Our main developer is going **PUBLIC!** + +Don't miss it and hop in! + +🔥🔥🔥 + +$MEMES - THE platform built on top of a blockchain which will have the common features of social networks embedded with an NFT marketplace, allowing content creators to sell it in limited editions. + +Contract: 0x40B165Fd5dDc75ad0bDDc9ADd0adAbff5431a975 + +Website: [https://memestoken.com/](https://memestoken.com/) + +Price chart: [https://dex.guru/token/0x40b165fd5ddc75ad0bddc9add0adabff5431a975-bsc](https://dex.guru/token/0x40b165fd5ddc75ad0bddc9add0adabff5431a975-bsc) + +If you wish to know more about out token’s profitability and our community, feel free to join +TG [https://t.me/MemesTokenOfficial](https://t.me/MemesTokenOfficial) +Discord [https://discord.gg/rQQWY3auAG](https://discord.gg/rQQWY3auAG) +Twitter [https://twitter.com/MemestokenO](https://twitter.com/MemestokenO) +Reddit [https://www.reddit.com/r/MemestokenOfficial/](https://www.reddit.com/r/MemestokenOfficial/) +Latest update: The risk is somewhat reduced now, but forks lasting a few blocks could easily still happen. However, this situation isn't likely to get better any time soon, so I've unstickied this. + +Old update: Even though there is no active block chain fork as of this writing, the risk *has not passed yet*. Another fork is *fairly likely*. So you should still follow the advice in the title. When the risk is reduced or eliminated, this sticky will be replaced or removed. + +More info: + +* https://bitcoin.org/en/alert/2015-07-04-spv-mining +* https://www.reddit.com/r/Bitcoin/comments/3c2cfd/psa_f2pool_is_mining_invalid_blocks/ +https://bitcoinist.com/why-is-ukraine-is-doing-an-el-salvador-and-legalizing-bitcoin-as-currency/ +> +> Last week, Ukraine legalized cryptocurrency in a near-unanimous vote. And it looks like the former Soviet bloc republic is taking things a step further by making Bitcoin legal tender. +> +> Legal tender refers to a lawfully recognized means of exchange to settle a debt or meet a financial obligation. In other words, if enacted, Bitcoin would have the same status as the Ukrainian hryvnia, meaning paying for everyday things with BTC would become possible. +> +> El Salvador made history as the first sovereign nation to make $BTC legal tender last week. However, the roll-out has not gone off without a hitch – something Ukrainian delegates will be well aware of. +> +> Ukraine Wants To Re-Invent Itself As A Crypto Mecca +> It’s reported that Ukraine’s President Zelensky has sent a team to El Salvador on a fact-finding mission to aid his plans for crypto adoption. +> +> Cryptocurrency has become something of a political football for President Zelensky, and judging by last week’s unanimous vote to legalize it, it’s one that his fellow politicians support. +> +> According to Professor Vyacheslav Evgenyev, the President hopes to bring in a dual currency system featuring both Bitcoin and the hryvnia by the beginning of 2023. He even broaches the possibility of BTC being pushed as the dominant currency of the two. +> +> Evgenyev said Bitcoin and Ukraine are a “natural fit.” Adding that his fellow compatriots are ready for “financial revolution.” And given the country’s history of turmoil, the people even expect upheavals. +> +> The words come in reference to the frosty relationship Ukraine has with Russia. Evgenyev said Bitcoin could be the driving force to step away from “Russia’s overbearing influence.” +> +> “It has a young population eager to move out of the shadow of its noisy neighbour and shake off the financial chains which have restrained it for so many years.” +> +> With many commonalities between Ukraine and El Salvador, including a great desire for financial change, President Zelensky and President Bukele have formed a close personal relationship. +> +> “They have been in constant discussion – sharing ideas, plans and thoughts on the future financial positions of their nations.” +> +> El Salvador Has Bitcoin Snags +> As much as Bitcoin is held as the great financial equalizer, its path to legal tender in El Salvador hasn’t been smooth. Far from it. +> +> The most notable uprising came from the IMF and World Bank, who voiced resistance to the move. +> +> There were also protests with the public calling for a repeal based on the view that cryptocurrency isn’t for working people. +> +> All of these things culminated with the Chivo wallet app crashing on the day of launch. President Bukele took to Twitter to say the servers couldn’t cope with the traffic. +> +> “For a few moments it won’t work@chivowallet, we have disconnected it while increasing the capacity of the image capture servers. The installation problems that some people had were for that reason. We prefer to correct it before reconnecting it.” +> +> However, a week on, and there are reports that the app remains buggy and sometimes unusable. +> +> Taking this into consideration, President Zelensky has his work cut out. But on the plus side, with over a year to go, and being able to draw on the experiences of El Salvador, Bitcoin as legal tender in Ukraine may be an altogether more polished affair. +My father passed away and left everything to my mother. He had a business which hasn’t actively traded in over 5 years but as he passed away unexpectedly he hadn’t quite had the time to close formally. + +Could anyone give any advice on how best support my mum in this situation +Hello friends, + +Just a thread to discuss peoples opinion on gambling. + +Do you gamble? What do you gamble on? Scratch cards, lotteries, bets? etc. + +How do you allocate your money towards gambling? Gambling money on interest you've earned through savings? Gambling on a percentage of your monthly wage? etc. + +I don't gamble at all, but am considering putting £10 a month towards lotteries. It's a negligible amount each month, so I won't even notice it, but you've got to be in it to win it! + +Would be nice to hear your thoughts. +Alright so I just finished looking through every single Eee Teee Efff that contains GME exposure. I ran daily volume through Flow Trade software platform that shows on exchange and dark pool trading. I have a pro subscription to EeTeeEff DB.com where I got daily GME changes in weighting. I also took the shares short changes from Eee Tee Eff Channel and will keep all of these current as we see changes. Especially today we saw a lot of interesting action in the last 10 min of trading. Please poke holes in the data if there’s something I’m missing let me know or if you know of other platforms that may have better or more current + +Edit: Significant movement going on... + +&#x200B; + +[Some of these are the ones being hedged within. Coincidence? ](https://preview.redd.it/p6j2inp3zmn61.png?width=1636&format=png&auto=webp&s=ffe2fff244f099a93493dc3dea950a744586ceb4) + +&#x200B; + +data. [https://docs.google.com/spreadsheets/d/1vhbn6HqmkhwHqtSj0CDNHeCNuNOp-hPcmfur0pZUuFs/edit](https://docs.google.com/spreadsheets/d/1vhbn6HqmkhwHqtSj0CDNHeCNuNOp-hPcmfur0pZUuFs/edit) + Hi everyone, + +I've seen posts from people who retired for a few months and eventually went back to work because of money/motivation/meaning. + +I've experienced this myself: I took a break from work to recover from burnout before I hit my full retirement number. So far it's been extremely useful; I've been able to recover from burnout, explore personal interests, and reflect on what I want to work on in the future. I'll probably go back to work in some capacity, but I now have an understanding of my goals and motivations that I wouldn't have if I had continued to grind it out at my old job. + +My hypothesis is that a sabbatical is more effective than FIRE for helping people find meaning and enjoyment in their lives. + +**Sabbatical Pros** + +* Available much sooner than early retirement; only need cash to cover \~12 months expenses. +* Better suited to time-sensitive goals like recovering from burnout, traveling, or raising a family. +* Provides time and space to reflect on what is important to you and pursue aligned work. + +**Sabbatical Cons** + +* Still need relatively large cash reserves. +* Potential to lose career momentum. +* Pressure of having a defined runway/knowing that you will need to return to work eventually. +* Loss of meaning, power, and social network from job. + +Put a different way: instead of saving for decades only to discover that retirement doesn't bring the satisfaction you thought it would, take a short work break now to enrich your life and redefine your relationship with work. + +Has anyone here taken a shorter work break to re-orient their lives? + +Has anyone here returned to work after they thought they had retired forever? +The worst coins with the worst use cases have all pumped. Bitcoin Cash, Ethereum Classic, and Dogecoin have all reached new time highs while coins with actual potential to revolutionise the space are all slightly dumpy. I'm trying to wrap my head around all of this. What is with this randomness? I'm banging my head against the wall trying to understand wtf is happening. +I want to buy into ethereum, but buying Bitcoin off localbitcoins and then using ShapeShift.io to convert to Ethereum is wasteful. Is there a cheaper way I can do this. I can not use any exchanges. +I've done a hefty amount of research on blockchain technology, BTC, ETH and Alt currency's. Have been watching this 2015 and regret not getting anything back then. I was only 15 grant it but in my opinion based on what I've research ETH is a better option. User friendly to businesses, has the EEA and from what I just read it is going to get rid of physical mining and switch to a digital system. There's no steady climb or jumps like BTC is having and all my money is tied up in ETH. I'm tempted to switch over but it just really seems like ETH should be better off. +There are some very exciting Ethereum crowdsales on the horizon: Gnosis, SingularTV, Boardroom, Golem. + +These projects will achieve synergy with the Ethereum ecosystem and could explode in value overtime. + +But do you really want to part with that sweet sweet Eth? + +Here is the easy solution. Sell 100% of your ETC and apply it to the upcoming crowdsales. That way you will retain 100% of your ETH. + +ETC may succeed who knows? But I have zero faith in Charles h or the hate mongering that goes on in that sub. + +However I have 100% faith in the Ethereum people who are actually trying to build things, like Gnosis, Golem, boardroom, and SingularTV. + +Right now you can get $1.44 for every ETC you own. Multiply that by the total number of ethers you have and that could be a lot of money to support positive-world-changing projects. + +The negativity spewing from etc is like a dripping herpe sore. + +I know that holding etc is the path of least resistance. For a time I held my etc too. But then I had an epiphany which was, "Charles h has seemed like a slime ball to me since day 1 in Ethereum so why the hell am I holding a coin where he is an all star?" + +Holding etc is not hedging. Holding etc is stupidity -- especially when there are so many more fruitful projects where that cash could be applied (going back to 100% ether is an option too, but come on you have to admit the upcoming crowdsales look exciting!) +Reasons to not hire Slockit. + +1) Stephan is not transparent. He does not want to disclose salaries and is hiding behind German Law + +2) Stephan is manipulative. "We will never make a proposal for more than 50% of DAO funds." Manipulative sales technique bc then you feel like anything less than 50% is not that bad. + +3) Trying To Sway The Masses Based On Fear. That is the sort of stuff governments do. Praying on our fears to try to sell us a garbage 2 million dollar security program where someone will watch the code 24/7. Newsflash. It is code. It does not need to be watched. + +4) Griff is a dirty hippy. (Okay I actually have nothing against Griff) + +5) How Can We Trust Them Now That They Have Made This Money Grubbing Proposal? Answer. Unfortunately we can't. This was an incredibly moronic proposal. They just blew all their trust (with me anyway and statistically I must represent some group so others too). I would like to point the finger just at Stephan but the brothers must have given it an okay. Griff and Lefteris get a pass bc they are employees, and it may have been out of their control. + +But now we know how they think. They are grubbing for money. So they will grub for money at every chance they get. + +Businesses get run into the ground really fast. These guys will run the DAO into the ground (I fear) + +So they can't be the guys to build the Ethereum computer and the sharing network. + +Conclusion: We badly need another team to build the Ethereum computer and the Sharing Network. The DAO should recruit people if a team does not present themselves. + +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +So, I get that day traders are trying to 'buy low/sell high' on a regular basis, and eke out the small percentage profits on a routine basis, but I don't have the time or energy to learn how to day-trade. That being said, I feel like for once in my life I've somehow managed to hear about something with the potential to be HUGE, and right before it lifts off. So I'm currently all-in on ETH. + +As someone who's never invested in anything at all before, I'm curious to get other peoples' input. Are you waiting until your stash is worth $1,000,000? Are you waiting for a certain price per ETH? + +I know I'd feel stupid if sold everything at $100/ETH only to watch it eventually hit $1,000, but I might feel even MORE stupid if I don't sell at $100 and it drops back down to $50. For example, I bet there's a lot of people who wish they would've sold Bitcoin at $950 instead of waiting for $1,000 then watching it drop to $600. + +So what's your strategy? Obviously the situation is dynamic, and something better could come along at any given time. But as someone who's never done this before, I'm interested to get some input. At what point are you totally out of the game? +I’ve been watching the price of ETH for a while now. And I know no one can truly answer this question bc the market is unpredictable right now. But I wanted to know what people’s thoughts were on the current price (which is $449). Is this a good price to jump in or should I wait the market out a little bit more? Any responses are helpful. I know no one has a magic crystal ball to tell the future. I just want this community’s thoughts, even if that’s sarcastic remakes back. Thanks! +I’ve been reading through a lot of the posts regarding the Bitgrail "hack" here. First, let me say that my heart goes out to those who lost money in all of this. There’s also a lot of conjecture going on at this point, and I wanted to do a bit of due diligence to uncover what we actually know - and what we don’t. + +## What we know + +By far the most interesting account to have a look at is https://raiblocks.net/account/index.php?acc=xrb_1fioob7u6ia76rfo1medtrwwdobey1ua8qe7z55qyjimir5b9d95hkdabbjn . It shows a total of 369 blocks. Since the timestamps are not recorded in the ledger, but rather in the block explorer db, they are not accurate: https://twitter.com/IcarusGlider/status/962180384032280576 . The order is recorded in the ledger though, so it can be trusted. When we start from the bottom, there are some rather uninteresting transactions (e.g. https://raiblocks.net/block/index.php?h=790129AAB2C823EC54BE5EB4314A9E6BB63B53AA0997483F6534642DF002DB79 ). If we keep working ourselves upwards, a more interesting pattern starts forming with e.g. this account which is most likely a Bitgrail deposit account: https://raiblocks.net/account/index.php?acc=xrb_1tf8gtopw8pdsrzsz6wzxpi6ndimsmqezetsosq5crq6r35ndmhrj9fd9nch . What we’re seeing is simple: + +1. Withdraw a balance from Bitgrail +2. Deposit the same or an accumulated or partial balance back to Bitgrail + +Note that as we’re following the transactions from the bottom (first) to the top (last), the pattern seems to get more and more methodical, and the amounts are getting larger until at some point, they are only round, large numbers. For example, on this account: https://raiblocks.net/account/index.php?acc=xrb_1wyq7i6hqu1w6cz7u59mg31w5gnmiu6iobz5xwekjrqa56wsscnhrih8ofx9 which is likely another Bitgrail deposit address, you can see 500’000 XRB getting deposited as the last transaction - that’s a lot of dough. + +If we follow one of the latest 10K transactions in https://raiblocks.net/account/index.php?acc=xrb_1fioob7u6ia76rfo1medtrwwdobey1ua8qe7z55qyjimir5b9d95hkdabbjn again, they are going through to addresses like: https://raiblocks.net/account/index.php?acc=xrb_1mec8hym899fm4dke4aunuarq8bejghuso5s7gf3swzoxsp884n5bwwar4kb , which seems to be a Mercatox deposit address. + +https://raiblocks.net/account/index.php?acc=xrb_1mec8hym899fm4dke4aunuarq8bejghuso5s7gf3swzoxsp884n5bwwar4kb is interesting for another reason - if we scroll down its transactions list, we see that it seems to have been used as arbitrage account between Mercatox and Bitgrail for rather organic, ordinary amounts, until at some point, deposits start to come from https://raiblocks.net/account/index.php?acc=xrb_1fioob7u6ia76rfo1medtrwwdobey1ua8qe7z55qyjimir5b9d95hkdabbjn directly. + +So this is a bit of knowledge accumulated about transactions and accounts. There's likely tons more knowledge there to be uncovered. What besides the accounts and transactions do we know though? + +We also do know that anybody who made any withdrawal above 0.5 BTC on Bitgrail had to be verified, 1.5 BTC (5 BTC with 2FA) could be withdrawn if verified, and transactions for “very high amounts” (https://twitter.com/BitGrail/status/949331036990771200) needed authorisation by the exchange, both starting from December 19, 2017: https://twitter.com/BitGrail/status/943266250653929472 & https://twitter.com/BitGrail/status/943557388724002817 + +Furthermore, here’s Bitgrail’s and Nano’s timeline of events as per their Twitter account: + +- Dec 10 2017: ETH Withdrawals become available after incomplete transactions: https://twitter.com/BitGrail/status/939987321428041734 +- Dec 11 2017: XRB under maintenance, stuck transactions: https://twitter.com/BitGrail/status/940236539623329794 +- Dec 12 2017: Still working on XRB withdrawals, “Invalid Block” issues: https://twitter.com/BitGrail/status/940461978375598080 +- Dec 14 2017: Markets back up after hardware upgrade: https://twitter.com/BitGrail/status/941307447104430081 +- Dec 15 2017: BTC Deposits and transactions fixed: https://twitter.com/BitGrail/status/941719243241947136 +- Dec 16 2017: XRB Node sync problems: https://twitter.com/BitGrail/status/941856645193306112 +- Dec 16 2017: XRB Deposits and Withdrawals become available: https://twitter.com/BitGrail/status/942082952627965952 +- Dec 21 2017: ETH Deposits and Withdrawals become available: https://twitter.com/BitGrail/status/943807035149373440 +- Dec 22 2017: Some accounts (10) have been hacked brute force: https://twitter.com/BitGrail/status/944204925369757697 +- Dec 24 2017: Invalid Block issues with XRB, later fixed: https://twitter.com/BitGrail/status/944880776092504064 +- Dec 27 2017: 2FA now required to use Bitgrail: https://twitter.com/BitGrail/status/945822650462547968 +- Dec 29 2017: Announcement that multiple accounts per person are not allowed to work around withdrawal limit: https://twitter.com/BitGrail/status/946537791126728704 +- Dec 30 2017: “Fat Finger” bug in trading engine: https://twitter.com/BitGrail/status/947069631449137152 +- Dec 30 2017: Bitgrail offline to fix above bug: https://twitter.com/BitGrail/status/947184369415938048 +- Dec 31 2017: Bitgrail back online: https://twitter.com/BitGrail/status/947332357224312832 +- Jan 2 2018: Work on XRB node because of crashes: https://twitter.com/BitGrail/status/948177038451576832 +- Jan 3 2018: XRB node issues fixed: https://twitter.com/BitGrail/status/948497429346832384 +- Jan 5 2018: Multiple users complain about negative balances: https://np.reddit.com/r/CryptoCurrency/comments/7wogjc/this_document_proves_that_on_jan_5th_several/ +- Jan 7 2018: ETH deposits and withdrawals available: https://twitter.com/BitGrail/status/950052675965644800 +- Jan 12 2018: Bitgrail registers as an LTD, changing from sole proprietor business: You can download the company registry entry: http://www.registroimprese.it/en_US/dettaglio-ricerca-gratuita?p_p_id=ricercaportlet_WAR_ricercaRIportlet&p_p_lifecycle=0&p_p_state=normal&_ricercaportlet_WAR_ricercaRIportlet_view=%2Frisultatiricercagratuita%2Fdettaglio_impresa.jsp&_ricercaportlet_WAR_ricercaRIportlet_pageToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJleHAiOjE1MTg0Mzg3MDYsImNvdW50IjoyNTB9.bnRBNUmlvpBFku7YHs5e6nZyDDonu5c4ZxK40_27vT8# (Yes I can't make this available to you without breaking Terms of Service, and you'll have to pay to see it. Otherwise take my word for it: Company constitution date January 8, inscription date January 12, protocol closing date February 6) +- Jan 8 2018: New user registration suspended: https://twitter.com/BitGrail/status/950328330993258497 +- Jan 9 2018: ETH deposits and withdrawals available: https://twitter.com/BitGrail/status/950777663521808384 +- Jan 19 2018: Withdrawals and trading fully available on Kucoin: https://twitter.com/nanocurrency/status/954331654058926080 +- Jan 20 2018: XRB withdrawals available: https://twitter.com/BitGrail/status/954657009181364224 +- Jan 24 2018: Withdrawals with manual intervention processed: https://twitter.com/BitGrail/status/956198052984950785 +- Jan 24 2018: Account verification mandatory: https://twitter.com/BitGrail/status/956312689906798595 +- Jan 24 2018: Nano team intervenes about verification: https://twitter.com/nanocurrency/status/956313999024574465 +- Jan 28 2018: XRB deposits and withdrawals suspended for system optimisation: https://twitter.com/BitGrail/status/957636456851308544 +- Jan 30 2018: Statement regarding Non-EU users having to terminate their accounts: https://twitter.com/bomberfrancy/status/958431792930967552 +- Feb 1 2018: OKEx trading available: https://twitter.com/nanocurrency/status/958994966667251713 +- Feb 2nd or so (Binance trading available) +- Feb 8 2018: XRB markets unavailable: https://twitter.com/BitGrail/status/961643213936300032 + +I could add Reddit and Telegram in here, but the above gives us a rough timeline of events, which is sufficient. There was generally a lot of turmoil with most of these events, and therefore lots of ambiguous statements etc, which are not that helpful. + +We also know that at the end of the timeline Francesco Firano contacted the Nano team and had this conversation: https://www.dropbox.com/s/3g38y67luolfvqs/Colin_ZS_Bitgrail_chat_log.pdf?dl=0 . There are a couple of facts worth noting from this conversation: + +- The timestamps are described as not correct by Colin +- Francesco Firano says he is missing 15 million XRB, which is the difference between what the Bitgrail system tells him he should have, and the contents of the Bitgrail wallets (~4 million XRB) +- Francesco Firano wants to resolve via a fork, which the XRB / Nano team denies + +This conversation eventually lead to this statement on the Bitgrail side: https://bitgrail.com/news + +And this statement on the Nano side: https://medium.com/@nanocurrency/official-statement-regrading-bitgrail-insolvency-ed4422bf274b + +As a measure to try and curb the damage, the Nano team and Binance, Nanex and Kucoin are cooperating to freeze identified addresses: https://np.reddit.com/r/nanocurrency/comments/7wil54/binance_is_working_with_the_nano_team_to_freeze/ - https://twitter.com/nanex_co/status/962149049771200513 - https://twitter.com/kucoincom/status/962343197543350272 + +## What this looks like +The pattern in the accounts and transactions described in the previous section makes it look like someone who did arbitrage between Mercatox and Bitgrail noticed a bug in Bitgrail’s deposit system whereby it became more lucrative to deposit and withdraw repeatedly, and maybe trade in between. Whether that’s deposits showing up double or else doesn’t matter really. There might have been other currencies involved as well. This individual or group then exploited that bug more and more methodically, increasing their leverage, until they started operating in the hundreds of thousands of XRB. These have more or less all been deposited into Bitgrail and Mercatox in the end. + +This created “artificial coins” in Bitgrails databases, and since withdrawals kept operating consistently, the funds in the Bitgrail wallet got depleted at a fast rate. The individual/s or groups exploiting the bug were essentially able to withdraw other user’s XRB. + +Now, if you play with Hanlon’s razor (https://en.wikipedia.org/wiki/Hanlon%27s_razor) ("Never attribute to malice that which is adequately explained by stupidity"), there are multiple possible stories: + +- Francesco Firano at some point noticed that they are running out of funds in the hot wallet. Depending on how lenient you want to be here with Hanlon’s razor, you can hook into any event in the timeline to find some evidence that Francesco might have known, and start a story from there. E.g: + + - He discovers it before Jan 24, 2017. He tries to find ways to regain solvency, coming to a conclusion that by making verification mandatory, he can avoid users moving to other exchanges, start keeping accumulating lost XRB again, and use verification documents to sell it on other exchanges. + - He discovers it on Dec 27 / 29, and starts tanking the price of XRB on Bitgrail by introducing a “Fat Finger bug” to buy XRB cheaper, complaining about node issues that were there before to justify suspending withdrawals. Since this is not really successful enough, he starts figuring out above plot with account verification. He also changes from sole proprietor to LTD to avoid future liability, which is also why he wants to establish the date of the hack with the team. + - He discovers it on Feb 8 when the hot wallet is empty, finds the error in Bitgrails system, realises that this will lead to Bitgrail’s end. He wants to find blame somewhere else, finds timestamps that are inaccurate in the Block Explorer, and tries to lay blame on the dev team. + - etc. + +If you think that Francesco was a scammer from the start, the story looks as follows: + +- Francesco Firano knowingly exploited a bug on his own exchange, starting to sell off other people’s XRB. One interesting point of evidence for this is could be that at the end quite large transactions made it in and out of Bitgrail, which certainly required authorisation / manual processing. Depending on the time these transactions happened though, amounts might have not been high enough to warrant verification. + +## What we don’t know +- We actually don’t know how much XRB got stolen exactly at this point. The 15 million is a statement from Francesco Firano, and it’s relying on the difference between Bitgrail data and the Bitgrail wallets balance. Since Bitgrail data most likely can’t be trusted, only a through audit of all Bitgrail wallets will show exactly how much has been moved out through the suspicious accounts. +- We don’t know yet if this bug has been exploited by just one individual, multiple individuals or groups, or at which scale +- We don’t know yet when this exploit happened +- Plus we don’t know tons of other things + +With that in mind, I would really caution anybody to rush to any conclusion. I personally am getting extremely sad if I read things like “ordering a death” or “organising a hit”. It’s understandable that emotions are running high, but there will be justice eventually. The ledger won’t lie. There likely will be tons of evidence lying around, since this doesn’t look like a “hack”, but somebody exploiting a bug, or in the other case somebody struggling to cover for their financial mess. Even if you think that it is for sure that Francesco Firano at one point or the other turned to malice, he still deserves the benefit of the doubt and is innocent until proven guilty. + +This will be a long process. If you lost your funds, go to the authorities and report your loss. If you provided verification documents, report to the authorities that they may be compromised. Try to find out if you have insurance potentially covering your losses and eventual cost of reissuing your passport, id card or drivers license. + +Not wanting to create too much hope here, but if there’s a conviction and Bitgrail is liable, you might even be restituted a certain amount. Nano is a currency, so this is the similar to somebody stealing USD out of your stock trading account. Act accordingly. You wouldn’t run to the US central bank in that event, so don’t expect the devs to do more than cooperating with other exchanges and authorities to contain damage and provide evidence. Make sure that any evidence you have, transaction ids of the wallets you used to deposit currencies into Bitgrail, and receive withdrawals from Bitgrail, are stored somewhere safe and show how much was stolen from you. Invest your energy in getting your evidence sorted, and exploring your options for restitution. I wish you the best of luck. + +EDIT: clarification. It's late here. + +EDIT: Weeeee thanks for the gold, can I eat that? + +EDIT: Add fact about change from sole proprietor business to LTD + +EDIT: Add link to post with Telegram chat link detailing negative account balances discovery January 5 +We already have a mortgage in principle, but I'm a little nervous that of our situation changes to rental even just for a month, then it will be harder for us to get a mortgage. + + +I've heard horror stories of people not being able to get mortgages because they're renting even though they have a deposit because apparently they couldn't afford the mortgage and the rent they are currently paying. Which sounds crazy! +I'm in a great position. I'm 35, and got lucky working for the right company. Over the past 15 years my net worth climbed from $20k to $8M. I have more to lose now than ever. I'm scared shitless. + +The logical part of my brain says I should calm down, enjoy it, and continue doing what I'm currently doing (a well-payed 9-5 job) and slowly form a more FI/RE lifestyle. The emotional part says "damn, I have no idea how to manage this money and responsibility. I want to lie down and cry. But that would be so pathetic." + +I remember ten years ago, when I left college and started considering $100 a small amount. $1k was still notable. That was a big step for me. I'm fairly frugal by upbringing, so money has never been a problem. Mostly because I don't have expensive needs rather than having lots of money. Now I'm reshuffling my bank accounts and get annoyed by the $15k daily limit when using online services. I don't like talking on the phone. I just want to move $50k to my own account in another bank. How hard can it be? + +I'm reading up on investment strategies, tax law, venture capital opportunities, risk management and all kinds of things I'd never thought I'd have to look into. I just like building things. Many sleepless nights just lying there and thinking "wait, how much is a 'risk-free' index return of 4&#37; over $8M again? That's ... a lot. But maybe I can do better. Should I?" + +For tax reasons, I won't sell my assets now. I have to wait a year, or I'll be giving away $2M in taxes that I can legally (and morally) avoid. So 90&#37; of those $8M are in a single asset. I feel bound by this voluntary lack of freedom: if I play it well, things will be great, and I'll \*feel\* great. If I'm unlucky, I'll feel bad forever for not selling and taking the tax hit. I had to make a rule: if the asset climbs to $13M (unlikely, but still), I'll start selling no matter what. Because at $10M net return, it's silly not to. Right? But then why not at $10M gross? Ah crap. I don't know. + +I have a spouse who's been with me through this journey, and I'm trying to keep them outside of this, not because I want a divorce and keep all the money to myself, but because I don't want them to worry. I know they have always had a knack for worrying about financial decisions, so I keep it to myself. I tell them about the big picture, but try to avoid talking about things like "hey, yesterday our wealth fluctuated by $100k. It's normal". Plus/minus a house, or a fancy car. In a day. + +We haven't told our parents about the magnitude of the situation, just hinted things are going well. I'm not sure I want to say more. They would probably be happy for us, but they also worked hard their entire lives, and I don't want their final years to be filled with "what-ifs". They don't deserve that burden, at over 70. And frankly, they probably won't know more about these financial decisions than I do. I already know what it's like lying sleepless thinking about things I can't change at 10pm on a Saturday. Wouldn't wish that on my worst enemy. + +They say money makes you lonely. I'm starting to agree, but mostly it just made me feel lost. +https://markets.businessinsider.com/amp/news/trump-calls-tesla-ceo-elon-musk-genius-strange-praise-davos-2020-1-1028835512 + + +President Donald Trump showered Tesla CEO Elon Musk with strange and confusing praise during a CNBC interview on Wednesday at the World Economic Forum in Davos, Switzerland. + +"I was worried about him, because he's one of our great geniuses, and we have to protect our genius," Trump said. + +"We have to protect Thomas Edison and we have to protect all of these people that came up with originally the light bulb and the wheel and all of these things." + +"He does good at rockets, too, by the way," Trump said. "I never saw where the engines come down with no wings, no anything, and they're landing." + +Tldr: +Tsla goes to 575 from 540 after trump calls elon musk thomas edison. Tesla to 69420 confirmed. +With all the doom and gloom of cost of living, poor economic growth, house/rental prices etc…. +Is there anything that is likely to come down in price? + +E.g +if less people are buying cars, will leases be cheaper? +If less people are going on holiday/travelling, will transport be cheaper? + +Just curious and wondering if theres any positive news amongst all the bad. Thanks! +I'll keep this sort. I run a very small t\-shirt business and a few of my shirts contain the word bitcoin. Today I received a cease and desist [letter](https://imgur.com/a/JTBZKui) claiming I'm breaking their trademark for the use of the word "BITCOIN", I didn't believe it at first since I knew that bitcoin and the bitcoin logo are public domain, and even a similar trademark application in the US failed. Well turns out a they did manage to get a trademark filed, it can be viewed [here](https://trademarks.ipo.gov.uk/ipo-tmcase/page/Results/1/UK00003279106). So basically anyone in the UK that puts the word bitcoin on any type of clothing or even a drink, can be sued. + +I'm posting this in the hopes someone knows the trademark laws better than me. I believe a trademark invalidation can be filed to get this removed since bitcoin is somewhat a generic term and therefore should be free for everyone to use. If anyone has the know how to file a invalidation please do so \- [https://www.gov.uk/government/publications/trade\-marks\-invalidation](https://www.gov.uk/government/publications/trade-marks-invalidation) +I understand that the greed & fear meter is all the way down to 10. + +I also understand this dip is not what people expected after so many ExPeRtS claimed BTC would reach 100k and ETH 10k lmfao + +I also also do understand that any newcomer will be scared af if they just put their Xmas money into crypto. + +What I have learnt though is, if you got any kind of crypto rewards based on staking, then please just lock it up for some solid good months or years and forget about this. It helps you mentally and also it is in my opinion the best call for a long term hodler. + +In my case, I have been sipping coffee watching Reddit go nuts and keeping calm as hell because I have Ethereum staked, CRO staked for the card and in their DeFi Earn (all locked) and the rest of coins I have them staked and all these secured with a hardware wallet which I genuinely find it too much of a hassle to get to start using again for the sake of panic selling. + +It is just better to watch the world burn while you know it will eventually heal up again. + +Stake your coins, earn interest and lock it up for a while. It will help you A LOT mentally. + +&#x200B; + +&#x200B; + +NOTE: any PoW hodlers (unstakable coins obviously), try to get them into a DeFi earning system like Compound or Aave. Any centralised ones can be Nexo +Hello, I've seen a number of blogs (such as good with money) suggest that Nationwide is an 'ethical' bank without much further explanation. Their information seems to come from the ethical consumer website which is behind a pay wall. + +Does anyone know how Nationwide is considered to be 'ethical'? + +Thanks! +Switch from FlexOne to Nationwide FlexDirect (join bonus £125) + +Leave nationwide for Santander (pay in £1000 for £140 bonus) + +Leave Santander for Lloyds platinum account (£21 fee but £150 reward) + +Leave Lloyds for First direct (pay in £1000 for £140 bonus) + +Leave FirstDirect for Natwest (pay in £1250 for £150) +Get Natwest Digital Regular Saver and pay in max per month (+change round-up) +Checked my Chase rewards section in the app this morning as it has almost been a year since I've been using it, and noticed that the cashback offer has been extended to February 28th 2023. Seems like it's not just the first 12 months! + +Edit: just got an email confirming! +Imagine if someone measured the amount of energy everyone on the planet used to surf reddit then equated that with the amount of pollution generated by energy companies in order to service that habit; then decided that it's the users of reddit who are at fault for that pollution. That's the argument being used against bitcoin and cryptocurrency mining today. + +Now Micheal Saylor and Elon Musk are showing support for the creation of a 'council' to regulate the energy usage around crypto mining. Before thinking this is a good idea, keep in mind that imposing licensing who can and cannot mine to secure a system no one owns, was built to be decentralized and placed into the hands of everyone, and allows people to earn money with minimal upfront investment and almost no labor, completely undermines all of the benefits of such a system and makes the network more vulnerable to manipulation by private interests. All of this backed on the pretense of a study that was not peer-reviewed and relies on poor logic that would otherwise point the finger at energy producers for the creation of pollution, not users. + +So, it seems that this may have been a ploy to centralize authority over the cryptocurrency by billionaires all along. As to whether they can convince people that this council needs to exist and can enforce who can and cannot participate, it remains to be seen. But don't think for a second any of this was about saving the planet, it was always about money and maintaining control over it. + +What happens if this narrative successfully convinces the population at large that mining ought to be licensed and those licenses are priced way above the heads of any typical user? This is a tried and true method of how private cartels have already exhorted control in other industries for centuries past. + +The entire point of bitcoin was to dis-empower oligarchy in the wake of occupy wallstreet. The only way bitcoin fails in this task is if its participants allow it to fail. +For all the trading veterans and Pro’s, how likely it is to become a consistently good performing day trader only with the help of books? (Options trader) + +I’ve seen so many trading gurus on YouTube recommending Top 5/10/15 must read and blah blah books for trading beginners. I would like to know how practical it is in real life? +I'm not new to the market but news seems to move faster than I can keep up. How did a stock for a company on it's last leg surge so much and so fast? What is this "squeeze". Not jumping on this wagon because I have my own investing strategy, but can someone explain the situation? +So I posted this on /alpp, and well, got told to post it on here, so, here we go. + +So, this is a basic "DD" to explain to people about the company, basically, i'll explain each of the subsidiaries and try to keep as up to date as possible, this is all whilst Alpine 4 Holdings, Inc (which i'll simplify to $ALPP going forward) is currently in the process of being uplisted to Nasdaq, as opposed to OTCQB. + +**Before I start, I do hold a position in ALPP, this is all my due diligence following several hours of researching, if you're looking to invest, be aware of the risks in investing in any company, especially one as volatile as a OTCQB stock, all of these are my own opinions and not financial advice, the value of a stock can go up aswell as down and you may lose money, please consult a financial advisor before investing to understanding the risks.** + +So, to start, currently Alpine 4 Holdings is a holding company, which is a company comprised of multiple separate companies, under one umbrella, currently it consists of 8 separate companies (this is including the merger of Deluxe Sheet Metal and Morris Sheet Metal Corp - [source](https://finance.yahoo.com/news/alpine-4-holdings-inc-alpp-123000378.html)). + +These companies are as follows, which will include a little about each of the holdings, and what they do, and any numbers I can find. + +\-- + +Firstly, we have **Alita Corp** \- **Altia Corp** is an automotive technology company with products in the Connected Car and Vehicle Safety markets, basically, it's all about the brakes with these guys, they've patented what they call the "Brake Active", which consists of two patents that they hold, to summarize what brake active is, it's as follows; + +Brake Active is a safety enhancement product that causes the 3rd brake light in a vehicle to pulse when the brake pedal is depressed. A NHTSA Study has shown that 90% of all rear-end Collisions could be avoided with just one more second of warning. + +So where does this make money, good question, the way they make money will reside in the licensing of the IP directly to manufacturers, who will deploy Brake Active directly into their product lineups, potentially realizing tens of millions of Brake Active units sold annually, which in itself is accessing a $20 billion market in automotive products, some further information is [here](https://www.marketwatch.com/press-release/alpine-4-alpp-receives-second-patent-approval-for-their-brake-active-product-2021-01-26?siteid=bigcharts&dist=bigcharts&tesla=y), this is a post from 26/01/2021 in relation to their second granted patent, and it explains the whole company MO very well. + +\-- + +Secondly, we have **SpectrumEbos, Inc.** SpectrumEbos is an Enterprise Business Operating System that combines key software components that maximize efficiency and visibility, leading to increased productivity. Spectrum tethers management reporting and collaborative tool sets so progress is easy to follow. Spectrum is embedded into a robust BlockChain ledger system. + +This is set to launch in 2021, it is anticipated that SPECTRUMebos will be a pivotal solution of the small and mid-cap public sector companies as it pertains to operating their businesses and complying with the scrutiny of public filings. + +Key Components of **SpectrumEbos**: + +* Accounting and Financial Reporting of an Enterprise Resource Planning System (ERP) +* Business Intelligence (Bi) platform +* Customer Resource Management (CRM) hub +* Document Management System (DMS) + +**SpectrumEbos** is basically $ALPPs way of tracking progression of Impossible Aerospace and Vayu as they go through the production process at Quality Circuit Assembly and can provide accounting/auditing services for other subsidiaries, it's all about that integrated business structure, which reduces costs. + +Sources [here](https://www.prnewswire.com/news-releases/alpine-4-technologies-spectrumebos-a-blockchain-enabled-enterprise-business-operating-system-set-for-2021-public-launch-301000473.html). + +\-- + +Next we have **Impossible Aerospace**, I feel we could go on about this company for ages, but basically, in a nut shell, 70+ Minute Lifetime, A Performance Drone for First Responders and one of the key things that $ALPP is big on, is it's made in USA. + +A little bit about **Impossible Aerospace** and it's major product, the US-1. + +* Founded in 2016 by former Tesla engineer Spencer Gore, the company unveiled its US-1 aircraft in 2018, unique for its long endurance and US origin. +* The company received financial backing from Bessemer Venture Partners, Eclipse Venture and Airbus Ventures during their start-up phase. IA’s patent-pending battery technology enables unprecedented industry leading flight times of 70+ minutes. +* Impossible Air Support allows you to send flight ready drones to 911 calls and other emergencies to get eyes on scene withing seconds (some press regarding first responses [here](https://impossible.aero/2020/03/impossible-aerospace-unveils-drones-that-respond-to-911-calls/) and [here](https://impossible.aero/2019/04/drone-assist-campbell-swat-team/)) +* You can deploy from rooftops or from mobile command centers that can be positioned in high crime areas or any remote location. + +This is one of $ALPPs major holdings, and what I believe to be one of the biggest growth markets for ALPP going forward as a holding company. + +\-- + +Next, I couldn't talk about **Impossible Aerospace** without including **Vayu Inc.** + +To quote the company themselves; + +>Vayu’s mission is to solve the hardest and most critical logistics challenges, anywhere in the world. We aim to set the standard and lead the market in safe, reliable, and affordable VTOL aircraft. + +Basically, the major drones that Vayu has, are the X5, G1 and G2 aircraft, and these aircraft are chunky, and I mean genuinely chunky aircraft, some facts are as follows: + +* 44lb payload capacity drone. +* TESLA FOUNDER’S Martin Eberhard and Marc Terpenning are heavy investors. +* Partnership with Bill & Melinda Gates foundation aswell as Verizon ([here](https://www.vayu.us/), at the very bottom it's listed as partners). + +This company is why I invested in ALPP, it's got a pay range of 5lb - 45lb and a life of 10 hours (attempt of breaking the world record [here](https://www.accesswire.com/628045/Alpine-4-ALPP-Drone-Subsidiary-Vayu-Looks-to-Set-a-World-Record-With-Their-Autonomous-Delivery-G1-Aircraft)), which is one of the market leaders, and allows for such a broad range of applications, from disaster efforts, to logistical applications. + +\-- + +So next we have **Quality Circuit Assembly Inc**, founded in 1988, this one, expect a lot of boasting about numbers here, they're bringing in good contracts here. + +QCA provides electronic contract manufacturing solutions for customers via strategic business partnerships. From initial prototype to turnkey production, QCA offers clients a wide range of services, affording them cost savings through the benefits of vertical integration. + +Some of the services they offer are as follows: + +* **PCB assembly** +* **Turnkey and consigned assembly** +* **Full production runs** +* **Cable and harness assembly** +* **Box builds** +* **Product testing** +* **Conformal coating** + +They're highly accredited, a list of certifications they hold are [here](https://www.qcamfg.com/certifications/) + +Now I said I had some numbers to throw about, and I do, Quality Circuit Assembly (QCA) has received an additional $1 million in new orders for Q1 & Q2 on top of the $1.5 million in new orders received in December 2020 and early January 2021. ([here](https://www.proactiveinvestors.co.uk/companies/news/940831/alpine-4-holdings-says-quality-circuit-assembly-subsidiary-has-received-an-additional-1million-in-new-orders-for-q1--q2-940831.html)) + +It's expected that QCA projects to report $2.8 million to $3 million which is a 35% increase over Q1 and Q2. QCA’s leadership team attributes the increase in revenue to the addition of new technology customers who have been able to help counteract the effect the pandemic has had on some of QCA’s longtime customer base. (yoinked straight from the website [here](https://www.alpine4.com/alpine-4s-alpp-subsidiary-quality-circuit-assembly-inc-qca-expects-to-report-strong-q3-demand-from-its-technology-customers/)) + +QCA also completed $1.2M in projects for these Fortune 500 EV customers in Q4 2020. + +\-- + +Here we have a 2 for 1, following the most recent merger of **Deluxe Sheet Metal** and **Morris Sheet Metal**, i'll give you a basic lowdown of both of them together, to avoid overcluttering.. + +Morris Sheet Metal (MSM) is a full-service HVAC Contractor offering design, fabrication and installation services. + +Since 1971, Indiana based Deluxe Sheet Metal (DSM), has specialized in all aspects of Commercial and Industrial Sheet Metal installations. + +Basically, before I give a few numbers I found in regards to contracts, this should explain the merger between the two companies. + +>Announces the combination of subsidiaries Deluxe Sheet Metal, Inc. (Deluxe) and Morris Sheet Metal Corporation (Morris) to become one of the largest sheet metal contractors in the Midwest region of the United States. Both companies will be under the Morris Sheet Metal brand. Deluxe and Morris are expected to be fully integrated by May 2021. +This merger will allow us to leverage complementary strengths between the two companies. Deluxe Sheet Metal can trace its roots back to the 1950's and is known in the industry as the go-to contractor for high-tech thermal management. Its customers range from the University of Notre Dame to GE and many other top-tier companies in the Midwest. The company recently built one of the largest crypto currency mining facilities in the Midwest, requiring precise thermal management. Morris Sheet Metal is the preferred contractor for one of the largest hospital networks in Indiana. During 2020 and the COVID 19 epidemic, Morris was responsible for building hundreds of isolation rooms. The combined company anticipates the benefits of that merger to drop the General & Administrative expenses by almost 7% in the first 12 months after the transaction. We also expect our gross profit margin to increase as our Material Cost of Goods will decrease by 5% due to increased purchasing power. The combined companies should reach revenues in excess of $50M, without major capital investments, within the next 36 months." ([here](https://www.proactiveinvestors.co.uk/companies/news/940831/alpine-4-holdings-says-quality-circuit-assembly-subsidiary-has-received-an-additional-1million-in-new-orders-for-q1--q2-940831.html)) + +Basically, it means that revenues should be in excess of $50 million within 36 months, from one singular subsidiary, and allows them to better work together, to achieve a better symbiotic relationship between the two companies. + +Current contracts also include a $2.9 Million contract for Morris Sheet Metals ([here](https://www.alpine4.com/alpine-4-holdings-alpp-subsidiary-morris-sheet-metal-awarded-2-9m-in-new-building-projects-with-their-food-processing-and-healthcare-clientele/)). + +\-- + +The next one will be a briefer one, **JTD Spiral, inc** is the sister company of Morris Sheet Metal, to specialize in producing spiral ducts, oval ducts, and dual wall ducts. Around ten years ago, as Morris Sheet Metal was rapidly expanding, so was their usage of the spiral duct. An opportunity was recognized to be more cost-effective. + +\-- + +Finally, the last holding (as of 15/03/2021) is **Excel Fabrication LTD,** some advantages of using this company is they have a 12' Accrupress hydraulic press brake, a 10' hydraulic shear, a 5' plate roll, a 60 ton hydraulic iron worker, several smaller support tools and equipment, along with several welding machines in various sizes for the different applications and processes. We have a 20,000 sqf fabrication facility, and additional 3,000 sqf storage facility dock accessible, with a large lay down area outside which is fenced off and accessible by trucks for storage and safe keeping of materials and finished products. + +However, one key note to take in regards to Excel is partnered with Varco Pruden Buildings (VP Steel) as a supplier of steel structures for commercial buildings. Excel holds general contracting licenses in several states and continues to expand its footprint. This partnership allows Excel to offer competitive pricing being both the supplier and contractor. VP Steel applications are used  in industries such as agriculture, automotive, churches, distribution, government, manufacturing, retrofit and retail spaces with certified energy efficiency and numerous certifications such as UL and US army corps of engineers. + +\-- + +To conclude, Alpine 4 Holdings, Inc, is a company that is focused on growth and creating good quality US made products, it has contracts with Fortune 500 Companies, and has just paid down $12.5 million of debt. + +Do I think this could be a good company, honestly, yes, i'm not going to go hyping it up, because i'm sure it has it's flaws, but for what it's claiming to be, for what markets it's planning to go into, I think it's genuinely going to leave a footprint in that, it's going into a market (drones) that is expected to be a very lucrative market, especially in the logistical sector and their need to improve efficiently. + +Sure, it sucks that Nasdaq is taking it's sweet time, but, honestly, this company has incredible growth potential, and it's stated it's planning to expand into the defense sector, and it's just got $50M in funding, so honestly, i'm optimistic. + +Apologies if it's a bit rough and not as fully fleshed out as i'd like it to be, it's currently 1.30am and I have been staring at this screen for way to long. + +Remember, investing isn't a guaranteed return on your money, think rationally, and don't invest on emotions. + +Feel free to include any further DD. :) +I've been in the crypto game since 2015. I started with £1500 (Roughly $2000) and in the boom of late 2017 I had managed to accumulate over £155,000/$200,000 mostly from bitcoin. Life changing amount of money right? The things I could have done. The best holiday I could have bought. The nicest sports car I could buy brand new instead of buying a second hand cheap runaround. Shit that amount of money could have paid off my mortgage. Thats past me now though and the hurt is mostly gone, but here's what I did wrong; + +1) When bitcoins dominance started to dwindle I tried splitting the investment into a bunch of different alts that I didnt research nearly enough. I was just eyeballing graphs crudely predicting their movement. Through doing this, my initial £155,000 turned into about £80,000 from the market flopping whereas if I had just kept it sitting in BTC I would have still had a solid £140,000 + +2) I was looking at the amount in $ and not the amount in BTC. After getting smacked up by alts I decided it would be best to move back into Bitcoin but the market was still in a bit of a crisis. There was massive volatility and so I started trying to day trade my BTC. If I thought another big drop was coming I'd sell. It would climb. I buy back in fomo, same amount in dollars as I had before, but less BTC, then it would fall. + +After things had settled I was left with around £4000. + +Things to take away from this / TL;DR: + +1) Research the fuck out of an alt before diving headfirst. Read whitepapers, think how a project could actual develope and are the devs actively working on their alt with a road map ahead. + +2) If you start panicking in dips but plan to hold crypto long term DO NOT try and play the charts and predict buy and sell points to minimise losses if you don't know what you're doing. Its dangerous and you'll more than likely end up worse of than if you had left it. Just hold it out and forget about it if you plan to stay. + +I have a lot more experience since then on reading charts and purchased an online course specifically for reading candlestick formations. I enjoy futures trading now and im happy with my overall gains this time around. Heres to a long and prosperous bullrun friends. +https://www.cnn.com/2020/02/29/tech/elliott-twitter-jack-dorsey-replace/index.html + +What kind of shake up would this create in the social media world? Twitter has long been the subject of angst and frustration by groups of users for the way they handle differing opinions on the platform. + +Elliot Management is known to have been a major supporter of the Trump administration. Could this be an indirect move to try and shift the social media giant to be a more pronounced mouthpiece for the president and his loudest well-known supporters? + +According to the article, it’s currently not known how much of a stake Elliot Management has taken and who they plan on replacing Dorsey with. +In November, I started investing in bitcoin. At the time, I thought it was too late (16k). + +December (25k) came. I regretted not investing more earlier, but I'm glad I started. + +January (40k) came. I regretted not investing more earlier, but I'm glad I continued investing. + +Now it's february (48k). I still regret not dumping my life savings into bitcoin when it was in the hundreds, but there's still so much more room for growth. We've just left the atmosphere, the moon is still a long ways away. My sats are already worth $2000 more than I paid for. + +Keep stacking sats and HODLing. The only way to lose is to not play at all. Don't let the price of a full coin discourage you. And more importantly, don't store large sums of money in a rapidly depreciating asset (fiat)!!! + + +## AAPL to Release Earnings on November 1 + +Apple Inc. **(AAPL)** is scheduled to release earnings on November 1, 2018, after the market closes, and will hold a conference call at 5:00 PM ET on the same day. The stock currently trades at 219.46, which is **8.9% higher** than the close following its last reported earnings, trading with a range of 197.31 to 233.47 since that time. + +### Expected Price Volatility + +Currently, option traders are expecting a **± 5.0%** move for this earnings, and during the previous earnings release, the stock experienced a **+5.9%** move. Over the last 12 quarters, the absolute average move has been **± 4.5%**, with a minimum move of 0.3% and a maximum move of 6.6%. AAPL has experienced **7** larger-than-expected earnings moves in the last 12 quarters. +I'm not OG by any means, I've been here only from 2017. But I remember learning from here a lot. Bunch of techical posts and comments I didn't understand, that pushed me to learn more. +The narrative was different. It was why the blockchain is needed, and of course about the decentralization. +Moons degraded this sub. Everybody is posting the same things all the time that majority wants to hear. Techical analasis are so rare. I cannot remember when I found the new and interesting project here. +And now LRC. It is everywhere, in every comment. Vitalik was speaking about it year ago that it was his favourite L2 solution (because of the decentralization). This GME thing is just riding the wave. There are numerous nft projects, but this is GME and the pump and shilling follows. How much is this really different from doge and shiba shills? + +Edit: for people asking why it has a comedy flair. I didn't want to be a hypocrite and farm moons while criticizing moons. +https://www.cnn.com/2022/04/27/business/world-bank-ukraine-shock/index.html + +Russia's invasion of Ukraine has contributed to an historic shock to commodity markets that will keep global prices high through the end of 2024, according to the World Bank. + +The spike in energy prices over the past two years is the biggest since the 1973 oil crisis, while the jump in food prices is the most since 2008, the World Bank said Tuesday in its commodity markets outlook report. + +"Overall, this amounts to the largest commodity shock we've experienced since the 1970s," said Indermit Gill, the World Bank's vice president for equitable growth, finance and institutions. + +"These developments have started to raise the specter of stagflation," the World Bank warned. "Policymakers should take every opportunity to increase economic growth at home and avoid actions that will bring harm to the global economy." + +--- + +IMHO it should be obvious which sectors of the economy will outperform going forward. + Here's the deal: + +Worked at a warehouse (Amazon) for a little over 3 years. + +Managed to save over $50k so far. + +I've been wanting to invest for some time, and given the way the market is looking due to the pandemic (COVID-19), I feel now is a better time than any to get started. + +My job has given me a couple of free stock that's being "managed/held" by Morgan Stanley. I plan on keeping these long term. + +I've been doing some research on where's best to invest (i.e. ETFs, Index funds, Options, mutual funds, etc.). + +My plan right now is to take $10k that I have in cold hard cash (I don't keep my money in a bank - this might not be the best thing) and put it in the bank (Chase). I know Chase has a You Invest Now option for investing but I don't know if I'll use it. + +I then plan on opening a brokerage account first with Fidelity because I feel it's a great all-around broker for beginners. I've read about TOS, IB, Schwab, and some of the others but I feel fidelity is a great start. If anyone has any reason why some of the others are better than Fidelity please tell me why. + +I also want to get into trading options - not right away - so I thought about opening an account with tastyworks. + +I'm looking to make both short-term (aggressive) and long-term (conservative) moves. + +I really want to take advantage of the market right now, and I feel I can stand to risk/lose about 5-10k. + +What do you think? + +Detailed advise is much appreciated. +I want to understand how to find and identify reasons for further investigation warranting a possible purchase/investment. This question is particular to the ASX as I'm in Australia. + +There's infinite sources and things happening but I don't really understand where to throw my attention to get a grasp of how to approach the market. + +It seems in a way identifying a massive or prevalent event allows someone to understand the repercussions of how this would affect the economy, and the market, later down the line. I just want to know how I can further 'get' this to work out where to focus attention. + +I want to sponge the brains. + +Appreciate any advice. +Competitive advantage stripped from Moderna and Novavax when Johnson and Johnson got the results from their single shot vaccine. The 52 week high of $189 was excitement about a potential end to o the pandemic and absent the J&J vaccine. But MRNA still has better efficacy, better future tech, and just announced a partnership to accelerate the production of their vaccine. + +Despite this, stock continues the slide, down another 3.42% today, as of this post. That extends 7 day and 30 day decline (-25% 1M). + +So what gives? +[Hello and happy Friday r\/Superstonk, I hope everyone's day is off to a great start! Let's get into this! ](https://i.redd.it/yc2ddid9q8h81.gif) + +https://preview.redd.it/697f78uer8h81.png?width=1462&format=png&auto=webp&s=de100140473104c8a38935d6a316ea484712b983 + +As many are already aware, the [Bureau of Labor Statistics released its Consumer Price Index Summary for January](https://www.bls.gov/news.release/cpi.nr0.htm), showing that the Consumer Price Index for All Urban Consumers (CPI-U) increased 7.5% (not seasonally adjusted) over the previous 12 months--the biggest number since February 1982: + +[Remember, JPow insists this number should be 2&#37; per year \('only' missing the mark by 275&#37; for the last year...\)](https://preview.redd.it/3h7lt2g2w7h81.png?width=2920&format=png&auto=webp&s=8c84e78a0d2d29cfa7007dde67b2b680e9c07c2d) + +Remember though, JPow and The Fed uses 'core' CPI-U for their decision-making purposes, which was up 6% for the year (highest since 1982). The cynic can view using this measure as 'hiding' how bad things really are, while JPow would snapback volatile items like food and energy (you know, what we all need to survive...) skew measurements. Whatever side of the line you fall on, this 'softball metric' is RAGING just like CPI: + +https://preview.redd.it/8tl20gxrx7h81.png?width=2915&format=png&auto=webp&s=30127d9c2028baefa3c00f59524d8b60496b4b33 + +I would like to take a second here to level set how our situation now is different than in 1982 (as I am sure many of you notice CPI and 'core' CPI were on the downtrend back then and might wonder why that cannot happen this time--at least yet). + +First, Paul Volcker (chair of the Fed back then) was not deliberately asleep at the wheel like JPow is now. Interest rates (the 'bazooka' in the Fed's toolbox) were in double digits ([15% percent in 1981](https://www.federalreservehistory.org/essays/recession-of-1981-8)), with Volker stating at the time (even with unemployment on the rise because of rate hikes): + +> "We have set our course to restrain growth in money and credit. We mean to stick with it” + + This is in STARK contrast to his eventual successor, JPow who is still pouring gasoline on the fire by still buying assets (he is slowing a bit), but this is still REPRESSING interest rate close to 0. + +JPow is out of excuses as well (supply chains, chip shortage, labor shortages, it's only in the vehicle market, trust me bro it's *transitory*..). Inflation is EVERYWHERE in the economy now--as it has 'trickled down' to every part of the economy: + +# Services + +[CPI for services up 4.6&#37; the last year](https://preview.redd.it/37p6rmkr78h81.png?width=2927&format=png&auto=webp&s=98781a3f78939f0c408177383ee32ab12fb9d45d) + +# Housing + +[CPI for housing is based on two measurements: “Rent of primary residence” and \\"Owner's equivalent rent of residence\\"--accounting for 32&#37; of the total CPI. ](https://preview.redd.it/uwwtvtbuj8h81.png?width=2922&format=png&auto=webp&s=35233e631b46bdc6d09b558fd2bfe86ec0618038) + + **“**Rent of primary residence**”** (weighted as 7.4% of CPI): was up 3.8% compared to a year ago. + + ["Owner’s equivalent rent of residences"](https://www.reddit.com/r/Superstonk/comments/ok45ql/inflation_alert_a_dive_into_yesterdays_cpi_report/) (discussed further in the linked post and weighted as 24.3% of CPI): was up 4.1% + +Rents are spiking tremendously and now making their way into CPI. According to data from [Zumper's National Rent Report](https://www.zumper.com/blog/rental-price-data/), the median asking rent for1 bedroom apartments increased by 10% or more in 56 of the 100 largest cities in the US, compared to the year before. + +In 34 of the 100 largest cities, 1 bedroom rents jumped by 15% or more. In 20 of the cities, rents were up by 20% or more, with 11 cities witnessing spikes of 25% or more. Many of the largest year-over-year jumps are in medium-size cities, where people aren't making 'city' incomes and wages are lower, to begin with--further increasing pain. + +Additionally, according to the Case-Shiller Home Price Index ([background here](https://www.reddit.com/r/Superstonk/comments/ot1e2h/inflation_alert_sp_corelogic_caseshiller_index/)), the actual costs of purchasing a house have jumped by 19% from the year prior + +[No wonder 1 in 7 homes is now owned by Wall St...](https://preview.redd.it/yytg7cmyl8h81.png?width=2927&format=png&auto=webp&s=d56b1b25a9dd3682f0ac02c56f9e22e304adcf6f) + +# Food + +Food costs make up 13.4% of CPI and are up 7% over the last year: + +[Breaking this down further, the food you buy at the grocery store is up 7.4&#37;, with individual categories much higher \(for example beef is up 16&#37;\) and Food away from home \(restaurants\) up 6.4&#37; vs the prior year.](https://preview.redd.it/hbb1ion6n8h81.png?width=2922&format=png&auto=webp&s=c3fa06f386ee41a47dee849d35cf9d5b948b30ff) + +# Energy + +Energy makes up 7.5% of overall CPI and was up 27% vs. last year: + +https://preview.redd.it/267wbl0pn8h81.png?width=2915&format=png&auto=webp&s=67e04ffa59f2f035d2aa05ebc6ca28fff3034924 + +[Electricity is up 10.7&#37; over the prior year](https://preview.redd.it/9bgsjo1yn8h81.png?width=2917&format=png&auto=webp&s=5b8a703c6f697d17be5dbbfc2f1fd43871394286) + +[Gas has come down from its previous peak but is still up 40&#37; from last year](https://preview.redd.it/oqqt84x1o8h81.png?width=2917&format=png&auto=webp&s=68e5f900f438f72bcc896f770f73ec283236be9d) + +[Natural Gas is up 23.9&#37; year-over-year](https://preview.redd.it/gcqb76qao8h81.png?width=2925&format=png&auto=webp&s=2c727b80b6d4ef6fc2b4d33a13aef80969c0b846) + +# Vehicles + +New cars and trucks make up 4.1% of the CPI calculation and have jumped 12.2% from last year: + +https://preview.redd.it/cht7j5oqo8h81.png?width=2920&format=png&auto=webp&s=ff961806d01b4b679c69c0091e0bc11500c51ded + +Used vehicles make up 4.1% of the CPI calculation and have jumped 40.5% year-over-year: + +https://preview.redd.it/gdwp8mmyo8h81.png?width=2920&format=png&auto=webp&s=bf07f22db9808a3c875bfd0300b3d6b63c73cd45 + +# And what does JPow continue to do? + +[This man is hell-bent on DESTROYING the USD's purchasing power](https://i.redd.it/40scvhp4p8h81.gif) + +# Inflation's biggest impact to you and I: Loss of the purchasing power + +Loss of purchasing power is the truly insidious part of all this inflation. As inflation continues to rage, the purchasing power of folk's wages and salaries drops by that much as well! + +[ The purchasing power of $100 in January 2000 has dropped to $60.10 ](https://preview.redd.it/ldnal72mp8h81.png?width=2925&format=png&auto=webp&s=e9ef943e04041c718e3fd18ca0ab1f57fcb08b7e) + +Let me say this again, the purchasing power of $100 in January 2000 has dropped to $60.10. Stated another way, if you put $100 USD in the bank in 2000 and did not touch it until today, the purchasing power of your 'savings' has taken a 40% hit--all because JPow refuses to stop the brrr. + +[Thanks for taking the time to stop by and dive into this! Please let me know if you have any questions or concerns as happy to try and help. Thanks and I hope everyone has a wonderful weekend!!!](https://i.redd.it/4j49gsejq8h81.gif) + Inflation may look like a problem that will go away, but is more likely to persist and lead to a crisis in the years ahead, according to a warning from Deutsche Bank economists. + +In a forecast that is well outside the consensus from policymakers and Wall Street, Deutsche issued a dire warning that focusing on stimulus while dismissing inflation fears will prove to be a mistake if not in the near term then in 2023 and beyond. + +The analysis especially points the finger at the Federal Reserve and its new framework in which it will tolerate higher inflation for the sake of a full and inclusive recovery. The firm contends that the Fed’s intention not to tighten policy until inflation shows a sustained rise will have dire impacts. + +**Deutsche Bank says** + +“The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act,” Deutsche’s chief economist, David Folkerts-Landau, and others wrote. “In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets.” + +As part of its approach to inflation, the Fed won’t raise interest rates or curtail its asset purchase program until it sees “substantial further progress” toward its inclusive goals. Multiple central bank officials have said they are not near those objectives. + +In the meantime, indicators such as the consumer price and personal consumption expenditures price indices are well above the Fed’s 2% inflation goal. Policymakers say the current rise in inflation is temporary and will abate once supply disruptions and base effects from the early months of the coronavirus pandemic crisis wear off. + +The Deutsche team disagrees, saying that aggressive stimulus and fundamental economic changes will present inflation ahead that the Fed will be ill-prepared to address. + +“It may take a year longer until 2023 but inflation will re-emerge. And while it is admirable that this +patience is due to the fact that the Fed’s priorities are shifting towards social goals, neglecting inflation leaves global economies sitting on a time bomb,” Folkerts-Landau said. “The effects could be devastating, particularly for the most vulnerable in society.” + +## To be sure, the Deutsche position is not widely held by economists. + +Most on Wall Street agree with the Fed’s view that current inflation pressures are transitory, and they doubt there will be any policy changes soon. + +Jan Hatzius, chief economist at Goldman Sachs, said there are “strong reasons” to support the position. One he cites is the likelihood that the expiration of enhanced unemployment benefits will send workers back to their jobs in the coming months, easing wage pressures. + +On price pressures in general, Hatzius said that much of current spike is being driven by “the unprecedented role of outliers” that will ebb and bring levels back closer to normal. + +“All this suggests that Fed officials can stick with their plan to exit only very gradually from the easy current policy stance,” Hatzius wrote. + +That will be a mistake, according to the Deutsche view. + +Congress has approved more than $5 trillion in pandemic-related stimulus so far, and the Fed has nearly doubled its balance sheet, through monthly asset purchases, to just shy of $8 trillion. The stimulus continues to come through even with an economy that is expected to grow at about a 10% pace in the second quarter and an employment picture that has added an average 478,000 jobs a month in 2021. + +“Never before have we seen such coordinated expansionary fiscal and monetary policy. This will continue as output moves above potential,” Folkers-Landau said. “This is why this time is different for inflation.” + +The Deutsche team said the coming inflation could resemble the 1970s experience, a decade during which inflation averaged nearly 7% and was well into double digits at various times. Soaring food and energy prices along with the end of price controls helped push that era’s soaring inflation. + +Then-Fed Chairman Paul Volcker led the effort to squash inflation then, but needed to use dramatic interest rate hikes that triggered a recession. The Deutsche team worries that such a scenario could play out again. + +“Already, many sources of rising prices are filtering through into the US economy. Even if they are transitory on paper, they may feed into expectations just as they did in the 1970s,” they said. “The risk then, is that even if they are only embedded for a few months they may be difficult to contain, especially with stimulus so high.” + +The firm said interest rate hikes could “cause havoc in a debt-heavy world,” with financial crises likely particularly in emerging economies where growth won’t be able to overcome higher financing costs. + +[https://www.cnbc.com/2021/06/07/deutsche-bank-warns-of-global-time-bomb-coming-due-to-rising-inflation.html](https://www.cnbc.com/2021/06/07/deutsche-bank-warns-of-global-time-bomb-coming-due-to-rising-inflation.html) +Over on the bitcoin sub, someone posted an article about Desantis (the Republican governor of Florida) making certain state services (ie vehicle registrations, property taxes, etc) payable via crypto. + +A few redditors indicated that they were getting fed up with Democrat Party opposition to crypto and may vote for the first time for the GOP candidates on future ballots. For folks in the USA and around the world (particularly where there are multiple viable political parties), would you vote for someone you otherwise wouldn't based on whether they were pro-crypto? + +Likewise, has the way you see various political groups (or politicians) changed as a result of how they've approached crypto regulation in your country? +Mild shitpost, though I personally think there's some truth here. For anyone who hasn't read the Ayn Rand novel *Atlas Shrugged*, one of the characters is a world famous industrialist/investor billionaire playboy type. His name is Francisco d'Anconia. He is the character who gives the iconic, oft-quoted "Money Speech," which I definitely recommend reading if you haven't. + +Anyway, one of the storylines from the novel involves d'Anconia making a high profile investment into a Mexican copper mine. Because he has been right so often, pretty much everyone in the world goes all in on this copper mine. It turns out the mine is completely worthless, and he knew it, and everyone who invested got fucking rekt. D'Anconia just wanted to give a middle finger to all the people who blindly follow whatever he does to try to make money. + +That's what I think about when I see Doge pumping because Elon Musk vaguely mentions it on twitter once. Part of me thinks he intentionally found the most absurd crypto to talk about, just to prove a point. +I just turned 18 and I've got some money to invest, but he says I should avoid investing much until the next crash. Is this good advice? I feel like trying to time the market like that is a bad idea, at least when I'm playing the long game... +Two pretty big happenings this past week- the Icahn photo and also the GameStop NFT Beta Launch Pin release. I am going to abbreviate the pin release as LP. + +I feel like there are so many new takeaways and questions spurred by the LP. Including but not limited to- + +1. If a random 5000 wallet users will be given something of value, then there is no doubt in my mind the actual shareholders will be given something of value as well. I mean I am a shareholder and I downloaded the wallet the first week- where’s my pin??🚀. Which also begs the question when? Upon the live release probably?? That would make the most sense. Based on the respect for shareholders that RC and Matt Furlong constantly extoll there is undeniable evidence shareholders will get something similar to the LP. + +2. So a shareholder is given one of these NFTs. Will shareholders then be able to double dip both on selling their limited shares and the limited NFTs hedge funds will need to buy back? This has been theorized about in the past. Now seeing the marketplace and the fact these pins are selling on it right now actually reinforces the truth to this theory. + +3. The value on the market for one of the 5000 pins right now is $200. Pretty crazy. Also there are only about 160 for sale out of 5000. Both of those things must scare the shit out of SHFs. Both with the high price- 10x more than a share approx, and the extremely limited quantity- only about 3% of those distributed. + +Sooooo many more questions and ideas could come out of the LP release. The next few weeks and lead up to the holidays are going to be amazing! + + +Edit- I think GME likes when we raise our concerns so I plan on sending an email to investor relations this evening asking if it’s possible for registered shareholders to get an LP also. If others feel the same way it couldn’t hurt to ask. +This is part of Bernie's plan to get the nation on a single payer healthcare system. + +"SEC. 4475. TAX ON SECURITIES TRANSACTIONS. +“(a) Imposition Of Tax.—There is hereby imposed a tax on each covered transaction with respect to any security." + +https://www.congress.gov/bill/113th-congress/senate-bill/1782/text#toc-H58F2F679095A4365B60E223EE2A4CDBD + +I'm assuming this would affect high frequency traders the most? +I understand that the President will be releasing a large tax reorganization soon and was wondering how this would effect me as a small retail trader. I made some decent money trading this year and plan to make some more. So far I'm looking at under 10k in gains but after investing my stimulus check it could go a bit over that. +Hi everyone, I’m back with another round of Insurance Insights! + +Today I want to cover the various ways you can own/hold Life, TPD, Trauma and Income Protection cover. The flavour of today’s post is not to give any advice as to how you should own your policies, only to help you understand the options available to you. + +As always this is general advice only. I encourage you to ask questions, I’m a specialist insurance adviser who wants to help people understand Life & Disability insurance on a deeper level and make more informed decisions. I’m actually thinking of writing a ‘how to’ book about all this insurance stuff because there are a lot unknowns out there about it. But I digress. + +The entity that owns/holds a policy is important because it decides who controls the policy administration and ultimately who controls what happens in the event of a claim and policy payout. + +At time of writing there are 6 main ways that can own/hold and pay for your Life & Disability cover, each with their own pro’s and cons. + +1. Personally +2. Totally through super (eg: industry/retail super fund, even SMSF) +3. Superlinking (this is technically a structure but worth covering here) +4. Cross-ownership +5. Joint ownership +6. Business ownership + +**1. Personally owned/held cover** + +This is where you are the policy owner and the contract of cover is between just you and the insurance company. It applies to Life, TPD, Trauma and Income Protection cover. + +In my opinion this is the simplest of all ownership forms. You own the policy, you get the money at claim time (obviously if it’s a life insurance policy and you’re the owner you’re dead and don’t get the money but your nominated beneficiary will generally receive it without a great deal of fuss). + +Personally owned-cover generally gives you access to the most policy options, quality controls and flexibility. + +For lump sum covers (life, TPD & Trauma) there are generally no tax implications. Income Protection is always taxed in the event of claim. + +The biggest drawback is having to pay for the policies out of your own pocket in after-tax dollars. + +**2. Totally through Super (eg: industry fund/retail super fund/SMSF)** + +A lot of people have some insurance in their industry/retail super by default. Super can be an effective vehicle to own and pay for insurance however there are serious considerations to be had. + +Keep in mind that the purpose of a super fund is to provide for the member in retirement. Whilst insurance is a consideration of the trustee of the fund, it is not the sole purpose of the fund. As a result, superannuation legislation (SIS) puts limitations on the quality and payout arrangements of covers. + +You can have Life, TPD and Income Protection in super. Trauma cover does not meet SIS legislation therefore cannot be in super (except for very old policies that were put in super before the new legislation came into place). + +*Pros of Cover through Super* + +* Generally cheaper premiums, especially through group/industry super funds (although this is rapidly changing with most industry super funds ramping up their premiums significantly at the moment) +* Good for your cashflow/budget management +* Often fewer health checks required/cover is given by default +* Tax effective due to super environment + +*Cons of Cover through Super* + +* Lower quality policies in order to meet SIS legislation (eg: any occupation on TPD, basic Income Protection definitions) +* Premiums reduce your super balance over time (unless you offset this with extra contributions) +* Life cover potentially taxable in the event of claim (if left to non-dependents as defined by the ATO), TPD taxed at up to 21.5% if a claim is made under preservation age +* A 3rd party involved – the contract is now between you, the insurer and the super fund trustee. This can increase complexity at claim time. +* Cover may not be guaranteed (this is especially true for industry and retail funds. SMSF cover is usually guaranteed). This means the policy terms can be changed at any time, usually not in your favour. + +**3. Superlinking** + +Whilst not an ownership type, it is an important structure to be aware of because it can negate the cons raised above with solely superannuation ownership. It applies to TPD and Income Protection only, life cover is included but not part of the superlink arrangement itself as it is not subject to nearly as many legislation issues. + +Superlinking is a structure only available through advisers and it effectively combines personal ownership and superannuation ownership into one structure and one policy. It was developed around 2014 in order to address the quality gap that exists between personally owned cover (higher quality) and super owned cover (lower quality). It effectively allows high quality cover that is funded in large part by super. + +Structurally it is a single policy spread out across the super and personal environments. The TPD and IP policies are spread out into their component parts that meet and don’t meet superannuation legislation. All the bits that meet superannuation legislation are held under and paid for by your super fund, which can be rolled over from an industry or retail fund or paid directly from your SMSF. All the bits of the policies that don’t meet superannuation legislation are held and paid for by the individual. + +In the event of a claim there is one single policy that is assessed. If you meet the definitions of the claim under the super held component then you are paid out by the super fund. If you don’t meet those definitions but meet the definitions held under the personally owned component then you’re paid out under the personal channel. + +It can be a bit confusing but at the end of the day it’s one policy, funded about 70% by the super fund and about 30% by the individual. + +*Pros of Superlinking* + +* Allows access to much better quality cover than super policies alone +* Allows you to use your super fund to have a policy with any insurer +* Means you get access to an adviser because that’s the only way you can access this structure +* Allows you greater control over your policies +* Turns your policies from non-guaranteed to guaranteed +* Great for having comprehensive cover without breaking your budget +* Goes a long way to address tax implications on TPD claims + +*Cons of Superlinking* + +* Can reduce super balance over time +* Policies can be more expensive than cover through an industry or retail super fund as they're better quality/as you're not part of a group policy you lose the group policy pricing that was negotiated. +* 3rd party involved in the event of claim (ie: you, insurer and super fund trustee). + +**4. Cross ownership** + +This is where you have two people who own each other’s policies. Ie: Jack own’s Jill’s policy (Jill is the insured person and Jack owns it) and vice versa. Jill ultimately has no control over her own policy. All decisions are controlled by the owner (Jack) and in the event of a claim the policy owner is paid the claim proceeds, not the insured person. + +There are no tax or other advantages of cross-ownership in my opinion. If you’re worried about losing capacity to make decisions on your own policy then a power of attorney may be more appropriate. + +It is more common where a Life or Disability policy is being used for business purposes (and even that may not be appropriate due to tax implications) but in most cases this is much messier than I like and can be a lot more trouble that its worth. Eg: in the event of relationship breakdown. + +**5. Joint Ownership** + +Not a common structure but it’s where two or more people own a policy on an insured person. In my opinion there’s no real benefit to this structure. It doesn’t make it any more tax effective and is in a similar vein to cross-ownership. In fact there may be more complications if there is more than one policy owner. Eg: both mum and dad own a policy on their 30 year old son. The 30 year old son has no control over the policy and if mum and dad divorce then mum and dad need to remain amicable in order to make policy changes etc. + +**6. Business Ownership** + +I will only cover this briefly as the focus of this post is personal/family cover but Life, TPD and Trauma cover can also be used for business purposes. It can be purchased by a business on the life of an employee who is a key asset to the business and whose services contribute substantially to the success of the business. In the event of the loss of this key person to death or disability the business receives a payout, which is designed to address a number of possibilities such as compensate for lost revenue, keep creditors at bay (sometimes the loss of a key person is a trigger for a bank to pull a business loan), cover the cost of finding a replacement person. Basically to ensure business stability as much as possible. + +The other type of business insurance is a buy/sell policy whereby all business owners take out a Life and Total Disability policy at the value of their share of the business. In the event of their death or total disability the policy will then trigger so that their their share to be transferred to the other owners smoothly without stress or legal issues, and without inheriting the spouse of the insured person as a new business partner. + +Ownership of these policies could be the business or the individual depending on the purpose of the policy (ie: capital or income purpose) and tax implications. + +**Final Comments** + +This is definitely not advice but as an adviser my preference for ownership is personal ownership first, then superlinking, then solely through super. Joint/cross ownership generally doesn't cross my mind. + +This is framed in terms of which ownership structure gives you the option of the highest quality cover and most control. However, which ownership structure I ultimately recommend for a person is only decided on after in-depth discussions as to that person’s personal circumstances, requirements, goals, budget and needs. + +I hope you’ve found this useful, please feel free to ask questions and I’ll try and get to them in a timely manner. +I've just started a new job which pays monthly, and had my first pay last week. It was less than expected, so I've logged on their employee portal to check my payslip - I've realised they have deducted an amount for HELP/student loans which I don't possess, and never declared to them, so I'm not sure why they've done this. + +I've emailed payroll now to try and have this amended for next pay run, but my question is, what has happened to the money they already deducted? + +Has anyone had something similar happen - will my employer pay it to me with next pay run, or do I need to wait until next year's tax return? + +Thanks for any insight! +So the couple who own the place I'm renting are new landlords. My place is their first investment property. They bought in April 2018 for $425K. + +They had to do some repairs to the place - replace the pipes underneath the house that were rusting, fix some window springs. + +I was curious whether they'd hold on to this place because house prices have been dropping and they pretty much bought at close to peak. + +Well, today I found out - it's going on the market for an after Easter sale. + +They will have owned the property for just one year at that point. + +To me, they're clearly bailing out of a bad investment. The writing is on the wall as to property price drops in this area. + +Going to be interesting to see if they can manage to sell it and recoup their money at all. + +My lease is in place until August so I have until then at least but given all the other places I've ever lived I guess I'll be moving house once more... which again is pushing me to buy a house because I'm pretty fucking sick of it, honestly. + +So, I'll update come April and see what price they get... or don't get. +Like I'm sure a lot of you guys do, I have a Google news alert set up for 'bitcoin'. Over the past 48 hours the tone of articles about bitcoin from mainstream sources has changed so radically that you almost get whiplash trying to wrap your mind around it. + +Major financial news sources are quoting bitcoin gains right next to other forms of investments. Major fund managers are speaking glowingly about it. Media sources which treated it like a cosmic joke are suddenly, with a dramatic shift, gushing over bitcoins future and potential. + +It seems to me that all it would take is the ability for the average guy with an E-Trade account, or access to his 401k allocation, to have the ability to transfer funds into a bitcoin ETF and this thing would explode 10x literally, and I mean quite literally, over night. + +I've been following bitcoin news for pretty much this entire year and I have never seen such a radical shift in the tone of reporting. + +I think we are on the cusp of a quantum jump for this whole thing. +I'm checking with credit unions to see how helocs are doing and I'm taking further steps with a PenFed agent. I don't know if I should keep going because I just don't like his manners + +1. I filled out an online pre app to get some rates. Their automated system calls me and wants to connect me to an agent to further discuss details. I comply and when the agent answers, he asks what I'm calling for....I had to tell him it was their robot who connected us +2. His emails never addresses me. No "Hi", just question immediately +3. This morning, he emails me "mastercave, you get the pay stubs?".... + +The last one kinda threw me and seems unprofessional to me. Maybe I'm being over sensitive about it? +First time poster here. Would like to seek some advise from this subreddit on how to handle the current tenant situation. Thank you in advance! + +Some background info: + +Tenant has lived in the property for over 2 years and had notified me that she'll be moving out by end of the month. She's been a decent tenant up to this point, so I had no reasons to be concerned. Fast forward to last weekend when we had a walkthrough to point out issues with home that needs to be fix. She tells that some of the issues were already there when she moved in, and that she sent me an property condition report about it 2 years ago. I don't recall ever receiving this email. And when I search my gmail inbox on phone for that email, I could not find it. But she insisted she had sent it. + +After the walkthrough is over, I went home. She forwards me the supposed email with "property conditional report" dating back 2 years ago. It immediately drew suspicion because the time stamp of the initial email did not match with the actual event. The email was "supposedly" sent at 3pm on the 1st day of her lease, when in fact I did not meet her to sign the contract until 7pm of that evening. When I opened up that attachment, it basically noted all the issues in the house were there upon moving in, and it has only her own signature at the bottom (not mine). I replied to her that the time stamp of the events did not add up, and hinted that she might be lying. She gets very agitated in her response. Claiming that it was pulled from her work achieved email, and that we somehow met previously for the showing and walk through, before signing the contact. (LOL who the heck does that?). She also said that because I don't have a conditional report myself (rookie mistake on my part), that there is nothing to counter her documentation. + +We are meeting this Saturday to have the final walkthrough. I suspect nothing I pointed out is fixed. She said she will print out the "property conditional property" for me to sign to acknowledge those issues were there to begin with, and that the current condition matches with the initial condition. That was the last email I got from her, in which I did not respond. I think she's trying to use the email exchange as way to try to build a case against me. + +Any advise on how to handle this situation with a lying tenant? I want to make sure all my bases are covered, and don't want to get sued. The other thing is, she's been late to pay her rent by 3-7 days every month, which according to contract, it amounts to $50 late fee + $5 each additional day. I hadn't planned to charge her for the late fee before, so I never ever brought it up. Now I'm now thinking of deducting that from her deposit given the way she has acted towards me. Please, please, please. Any advice from this subreddit would be helpful and appreciated! +Folks, I have a tenant with a verified Section 8 voucher who wants to rent one of my houses. The voucher is for a premium amount so it would be great cash flow. But we have caught him lying on other issues such as his employment history and he has a history of evictions before getting the S8 voucher. + +Would you take him as a tenant with the guaranteed rent via the verified S8 voucher or is there any way I can lose by taking him as a tenant with his other flaws described above? + +Edit: +I had been renting this house out (2-bedroom, 1-bathroom, 672 sf area) for $500 per month to a non-S8 tenant. S8 will pay $1025 per month. I added this detail to see if it would change anyone's minds. It would be tough to turn down the large increase in rent. +Partner and I are looking to buy our first multifamily house, its a duplex each unit has 2beds / 2 baths priced at 299,000, but our realtor is saying to offer 325-350 bc its a crapton of space and we are in a very competitive market. We are two blue collars and don't make much at all (60K combined), so we plan to manage the rental ourselves with the exception of having our realtor screen the new tenants. + +Even at 350K purchase price, the rent from just one of the units and a rented out garage on the property covers the mortgage completely. We plan to live in the unit downstairs and renovate that slowly over the course of the year with as much DIY as possible. + +Once the unit downstairs is renovated and rented out, there would be about $1500 month net cash flow (after the mortgage is paid) from the property, and I was thinking at that point to do a cash out refi and try to buy a SFH for us to settle down in. + +Questions (sorry if these are all stupid questions, I've been poring over RE Investing books for beginners but wasn't sure how the conventional knowledge pertains to our specific situation) + +1. How much should we keep in the reserves for repairs? After putting 20% down I will only have about 20K left in the reserves to handle anything that comes up. + +2. How hard is it to do a cash out refi on a multifamily property? Keep in mind we don't make much income from our jobs at all, say 60K combined. We are probably going to need to put 20% down (a huge chunk of my life savings) to get our offer accepted, but was wondering if we could pull some cash out about a year later to buy a 2nd property? + +3. How hard is it to get a 2nd mortgage once you already have a multifamily rental in place? Is this even possible if we only make 60K and have an extra 10-15K added to that in rental income? + +Thanks in advance for any advice, neither of us came from real estate backgrounds so we don't really have anyone we know that we could ask + + +Edit - ok whoever said its not cash flowing was right, because we'll be living in and fixing up one of the units. Its NJ so its not a LCOL area.. + +https://www.biggerpockets.com/analysis/rentals/4f94c8f6-9da9-4e12-bb53-61bb97faeedc +# Monthly Motivation Thread + +Welcome to this monthly series. This post will repeat monthly, on the 21st of every month. + +This is your opportunity to share your successes, accomplishments, as well as provide us with an update on your goals and strategies as they pertain to Real Estate Investing. + +## Example Questions: + +1. What are you hoping to accomplish this month? +2. What method(s) are you using? +3. Have you closed any interesting deals recently? +4. What mistakes did you make, and what did they teach you? +5. Anything else you learned and would like to share with others? + +Veteran investors feel free to provide useful tips and feedback to other people's goal, as well as some of your recent successes, or failures. +I live near a few fast growing towns in my state and there are some properties in my budget that are rather far from my own house ~30 minutes away. + +Once I get the properties fixed and rented out, I won't be going to them very often aside from riding by occasionally to make sure everything is still standing. + +Should distance be a factor? I don't have any properties right now but am actively looking for my first. +I’m a noob. Like ELI5 level, so bear with me. + + +Edit: I didn’t mean SF proper, I mean outskirts, like 1hr train ride away. Commuter neighborhood. + + + +I went to bankrate.com and calculated a duplex purchase in a California SF area zip code. It’s obviously a HCOL area so I put in a $1m property, duplex, first time buyer, great FICO, 5% down And it quoted me $3,500 mortgage. + +Fun fact: a rental in the area is easily $3,000 or so, meaning i could realistically have that much income from the second unit. + +Taxes I think are about 1.2% or something, right? So.... about $1k a month? + +Is this what’s actually happening? Am I throwing away money renting when I could basically own the place and pay less in mortgage and taxes? + +I’d like to hear genuine hard core realistic feedback from folks who have experience in this crazy expensive Bay Area rental market, but haven’t locked in 10 years of appreciation already. + +I keep thinking COVID fallout in the coming years is going to put pressure on the local rental market. +I'm in the process of my first property. Somedays I feel super excited about the opportunity, other days I think it's a stupid idea. The property is duplex in a growing community, has a annual cash flow of \~$9800, the current owner is giving us vendor loaning for the DP. It seems like a good idea, and my business partner already owns several so he knows what to expect. We can probably sell it for more than we are paying if we are patient, but that is not the plan. Did anyone else find that first property incredibly overwhelming? I can't stop focusing on what can go wrong, instead of what could go right. I understand that I will have to deal with repairs, tenant problems, etc. I feel like I just need to say screw it and jump in. I'm in my early 20s, so if it goes well I have time to keep working on it, and if not then I got time to figure out what's next. +I'm relatively new to the game and only have 3 duplexes that I bought all this year. I have always used Turbo tax but now that I have rentals, I want to take full advantage of my returns. What do you guys do? + +&#x200B; + +Edit: Thanks for all your input everybody. I found someone local that I will be working with on a site called [Thervo.com](https://Thervo.com). +The house is located in a beach city in Southern CA and is worth about $1 million. The house is old and needs work but is paid off. What would be the best argument to make to sell, or, transfer the house into my name (this would be best to take advantage of the property taxes with Prop 13). I hope this would also avoid fees associated with using an agent. This would actually be a rental property for me since I already have a primary and I have no plans of moving until 15-20 years in the future. I have about $110-120K to put down but I'm dealing with 6 children (including my father). What would be the best way to convince them to sell to me instead of putting it on the market? Any ideas would be greatly appreciated. Thanks +I believe buying and holding rental property is the best ROI to invest in real estate but I just can't bring myself to get excited about it as a business. I keep looking at REITs or returning to stocks but if I want to retire early I feel like I need to have some regular monthly income. I also looked into investing in hard money notes at about a 10% return. Some of these duplexes I'm looking at are going for 30-47% ROI. + +The thought of dealing with contractors is not exciting either. How did you all get passed these hurdles? +My friend and I have been driving for dollars looking at homes. I'm interested in getting a multifamily specifically a fourplex or duplex. I notice some fourplexes have different addresses instead of units. + +My friend was telling me that you cant buy the whole entire multifam because it has different addys which is true but im not sure. + +If I purchase a fourplex can I buy the whole entire house and rent out to all tenants or buy out each unit? Hopefully this question makes sense. +Sister and I have decided to partner up for a duplex (or possibly a triplex if the opportunity rises) + +We have already been pre-approved for an FHA loan of up to $628k, our aim is for something right around the 500k mark. We’re looking for something with 2-3 BR on each side. + +Plan is that we would own it 50/50 and each would have ownership responsibilities of one unit. What I mean by this is if I decide to move elsewhere it is my responsibility to find and manage a tenant and pay my half of the mortgage. Most general house related stuff like plumbing and roof would be paid for 50/50 but unit specific stuff (like if a tenant breaks the washer) is the responsibility of the owner of that unit. We intend to write up a little contract for ourselves that goes more in detail with this kind of thing. + +Haven’t found a property yet (only been a few weeks) but from calculators I’ve seen online, at 500k property with a 3.5-5% down payment we’re looking at about 3k monthly mortgage (including taxes, insurance, etc). We figure at some point we will both move out of our units and move on to our own separate projects, (my fiancé and I would like a condo downtown or some other form of rental property after this one) and based on rent in our area, we can easily rent each unit out to cover the mortgage and possibly even get a bit of monthly cash flow. Suffice to say we’re looking to buy and hold forever, but who knows if it appreciates enough, and I assume it will looking at the history of our city, we might sell 5-10 years or so from now to use for more lucrative opportunities. + +Between the two of us I believe we would have enough capital for a down payment on a conventional loan but we like the idea of having extra cash as a safety net (especially with this uncertain economy) and to more quickly save up for additional investments a few years from now. We may use some of it to renovate a bit as well. + +I am currently looking into that whole thing where you can renovate, get an appraisal, refinance and get some cash in hand type of thing but I figure I got plenty of time to learn those details.. + +Anything I’m missing? Any major flaw in our plan? Any red flags? + +Thanks for your input/advice! +First thing we see on the network when we open the app: + + DNS 75 Standard query 0xfae0 A blockchain.info + +Samourai Wallet not private, decentralized, or secure. The backend exclusively talks to Blockchain.info's API, uses their websockets for real time notifications, and has no other communication with the Bitcoin network. Here's the function which is used to grab details about addresses in your wallet, which links every single one of them together as owned by one entity. + + public JSONObject getAddressInfo(String string2) { + try { + StringBuilder stringBuilder = new StringBuilder("https://blockchain.info/"); + stringBuilder.append("address/"); + stringBuilder.append(string2); + stringBuilder.append("?format=json"); + string2 = new JSONObject(WebUtil.getInstance(null).getURL(stringBuilder.toString())); + return string2; + } + catch (Exception var1_2) { + var1_2.printStackTrace(); + return null; + } + } + +The most private wallet in the world is directly revealing your money and your transactions to a member of the Blockchain Alliance, a consortium of Bitcoin companies who have the goal of getting your information to law enforcement before they even think of requesting it. + +Did nobody else check this before buying into their story of being crusaders against the tyranny of terrible privacy? The binaries from the play store decompile just fine, you can verify this for yourself. + + +Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! + +If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. + +[Join us in the r/Bitcoin Chatroom!](https://discord.gg/qE3rWBRNqh) + +Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/nf1rw9/daily_discussion_may_18_2021/) for unanswered questions. +Since financial markets are full of chaos, I have been thinking of coming up with a way to make my model(NL or whatever) understand what it doesn't know. Like for example if a new pattern shows up on the test set that the model had not seen on the training set it just doesn't make a prediction at all. So the predictions are only made when it sees known patterns on the test set. This way overfitting on the training set wouldn't matter either. We need something like a GAN where there is a discriminator which tells us when the pattern/input on the test set or live trading is something it hasn't been trained on, possibly noise so that it can avoid taking a position,some sort of noise discriminator which distinguishes signal from noise. +I would love to receive suggestions and ideas on how to go about this. +A friend of mine is entering a prop. trading firm to begin trading manually. + +If 90%+ of manual traders aren’t successful and systematic/algo trading is dominating the market, why are prop shops still hiring manual trading teams? + +What is the game here? +As a disclaimer, I'm very new to the programming scene. I have had an etrade account for years now and I've heard that they have a pretty good API, and I've been interested in learning Python for a while now. I started using Datacamp to learn python and I am just about finished with the python tutorials that they have, so I'd say I have at least a semi-decent grasp on the idea of the language. + +&#x200B; + +However, It seems like the resources for learning about finance API is limited, to my surprise (at least with etrade, specifically.) I've pip installed a api wrapper for etrade, and obtained an api key and secret from etrade. I also have Python all correctly installed and pathed on my computer. + +&#x200B; + +My problem is, I don't really know where to go from here. In the future I'd like to be able to develop machine learning algorithms using scikit or something similar for predicting trends/breakouts. But at the point where I am right now, I'm stuck at learning how this API works and what I can do with it. Could somebody point me in the direction of resources to learning about setting up code for being able to do this? or even just help me out with the authorization process of the API, because I haven't even figured that out yet. I'm basically completely lost at the moment. + +&#x200B; + +Thank you for any help. +I built a model in excel based exclusively on one indicator and one etf. It showed strong returns during 2009-2019 periods but that’s not necessarily significant as everything did well over that period. However, testing it over 1999-2009 yielded similar returns and it only trades a few hundred times over that entire 20 year period transaction costs aren’t as much of a concern. I know everyone on here is generally very critical of backtesting and am curious in what ways this could be flawed so I can make more certain that this model is valid. Returns per trade were calculated by checking the indicator at the end of the trading day and if it hit then I would use the next days open to calculate returns over the next 20 days. +I have some cool strategies I want to test out but always cost a lot of my time to execute trades. Anyone knows how I can get started making a bot to trade custom strategies? +Algotrading can be as simple as writing trading signals into a computer program, but as I’ve come to find out, it can also get much, much more complicated. + +I’m wondering how to structure my many trading and portfolio management tasks into one large machine. Anyone got tips on that? + +Ex.: + +Start with data feeds. Potentially from multiple vendors. Going into databases. + +Have my bot(s) monitoring that data flow to do analysis and place trades. + +Managing a portfolio of all bots, positions, markets, etc. and changing portfolio-level attributes like leverage, position size based on market moves + +Shutting the whole thing off if a website goes down for maintenance + +P.S. I’m a Python developer and mostly trade index derivatives, forex, crypto +Hi traders + + I would like to get into algotrading. I am in a fairly math/stat light economics program and have generated some interesting trading strategy ideas. The problem is that I can't evaluate them without proper data analysis techniques and therefore I need a much deeper knowledge of statistics/econometrics. What books can you recommened that are great for self study? I have taken a solid pre-calc course and am currently in calculus. +I've been lurking the web and I couldn't find any clear roadmap for algorithmic trading. If my goal is to build a trading bot with machine learning integration, what concepts should I learn? I'm planning to build one with MQL5, is that even a good start? Most of the tutorials I've found with ML are always built with python. +Hi All, + +Huge fan of the advice on this sub, appreciate you all! I'm on the path to fatFIRE(1.2mm NW, 550k income, 28 yo), and curious how those of you who've already hit this goal leveraged debt on your journey. + +As a specific example, I've dabbled in real estate, but used cash in those transactions. I'm looking to acquire a new investment property, and would like to make use of a mortgage due to the low rates. Once I better understand leverage, I plan to increase my debt load, but am starting small on this transaction. + +At what point does a high NW enable you to get better rates? What NW constitutes justification for preferential lending(ie better rates, terms, etc)? + +Are there specific lenders you use, and how did you find them? + +Is there any benefit to maintaining a relationship with a lender(Ie better rates after multiple transactions), or is the name of the game shop around every time? + +What is the best/easiest way to find the lowest rate possible on something simple like a 30 yr fixed assuming high NW, income, credit score, etc? Is there an advanced approach to this, or is it simply just call 10 companies and take the best rate? Is there a NW at which this meaningfully changes? + +Lastly, I'd be curious to understand how much leverage you took on on your journey, and how that changed as your NW snowballed? Did you do things differently at 1mm NW, 5mm NW, 10mm NW, & at fatFIRE? + +Thank you for sharing any feedback!! +Does anyone using private security services, bodyguards etc.? + +For which cases you could recommend such service? +For which cases it might be not necessary? +Pseudo-throwaway account. Not sure if this is the right sub? I don't have people to talk to about this. I grew up poor, but lucky in some ways. + +My kids (all under 14) each stand to inherit low 8 figures from a grandparent, who basically started from nothing, so I guess you'd call this 'new money'. This grandparent has also clearly been focused on trying to pass this as far down the line as possible... i.e. create 'generational wealth'. + +Yet this benefactor has also always felt that the kids & grandkids should be 'sheltered' from this asset, and encouraged to pursue their normal life's path without being burdened, or distracted, or tempted. The money is there to remove obstacles and provide opportunities but otherwise isn't an end unto itself. + +The part I struggle with is that I don't think these need to be opposing goals - 'create sustainable wealth' vs 'follow your dreams'. If you want the kids to carry on the family business, then it seems like it would make sense to expose them to that at an early age... if they don't like it, well, you'll know. If you spring the fact that they have a jillion dollars on them suddenly when they're 25 or 30, after they're supposed to have gone to college and made major life decisions, well that seems pretty jarring to me. Maybe they weren't "following their dreams", maybe they already decided to follow a career path to a higher-paying job that they didn't like because they thought they needed to for the money? And now it turns out they could have remained a part-time basket weaver who simply managed their own accounts bogleheads-style or whatever? + +I don't know if this post has a question in it. I can't be the first person to struggle with this? Is it normal anywhere to teach a teenager about the 4% safe withdrawal rate as part of their personal finance education, for example? What if they stick with basket weaving, but their baskets are terrible but it doesn't matter because they don't need the money anyway so they never get better? Or is it just that I'm experiencing a normal amount of parent-cluelessness, no matter the circumstances? + +Edit: Thanks for all the helpful input... it seems like as usual a big part of the answer is 'try to raise your kids correctly' and hopefully that takes care of a lot of problems... +37yo, essentially retired for 8 years. My consumer product business nets about $1.5m/yr and I’m happy with that. My time is better spent traveling and playing golf than chasing more money. But my taxes are too high, especially because I don’t need $1.5m to live my life. How can I continually reinvest in the business to lower my annual tax bill, while minimizing the actual time and headaches I need to spend managing new business assets? I don’t want to manage employees, so that’s not a solution. + +For example, off the top of my head, I could buy up warehouse space (that I don’t actually need at the moment) and borrow against it. Would that work? Any other ideas? + +The business is an LLC taxed as an S-Corp in a 0 tax state. I already draw a reasonable salary as determined by my accountant. +Evening all, + +I am well on my way to fatfire from a financial standpoint but still own and operate a business that takes up probably 60 hours a week of my time and will for the foreseeable future. + +The business is demanding but I at least know how to delegate/hire what I can there. What I am having trouble with is the time I spend managing things in my personal life that I feel I can’t effectively delegate or get help with. My wife and I are happily married w two daughters 3yo and 10 months. She does a great job taking care of the kids but would like to go back to work part time because she enjoys her job in medicine + +We live in a relatively low cost of living area in the northeast and because of that we’re not surrounded by others in our situation and from what I can tell there’s not a network here of nannies, drivers, assistants etc like there are in some areas of the country + +So anyways I am curious on peoples thoughts or experiences buying time back with a helper or someone who can quarterback a bunch of things in your personal life? + +Literally things like keeping up car registrations, paying bills that aren’t on auto pay, managing landscaper, shopping for clothes, researching vacations, coordinating childcare just anything and everything that can take up that additional 5-10 hours a week that I’d rather spend enjoying my family + +Thanks for the help!! +NAME: TRUSTSWAP (SWAP) +Website: [https://trustswap.org/](https://trustswap.org/) +Official SWAP token contract address: 0xcc4304a31d09258b0029ea7fe63d032f52e44efe [https://etherscan.io/address/0xcc4304a31d09258b0029ea7fe63d032f52e44efe](https://etherscan.io/address/0xcc4304a31d09258b0029ea7fe63d032f52e44efe) +Telegram: [https://t.me/TrustSwap](https://t.me/TrustSwap) +Discord: [https://discord.gg/rAJPgrq](https://discord.gg/rAJPgrq) + + +This project is being led by Jeff Kerkeidis, the owner of Uptrennd (1UP). I think it has serious utility moving forward, as they have fairly robust future plans for the project. Have a look through the website, as I really feel this project/token has a value proposition and future utility. + + +Some of the details are as follows: +\* Initial Liquidity Offering - 60% of tokens will launch on Uniswap +\* Marketcap - The starting marketcap value on Uniswap will be $500,000 +\* 100,000,000 SWAP tokens will start as the initial supply +\* Staking Rewards - Every transaction paid in SWAP rewards stakers and liquidity providers with 80% of the transaction fee. 10% is burned, and 10% goes to the foundation +\* Deflationary - After SWAP tokens are used for payment they are burned. This decreases the total supply and SWAP's value due to scarcity increases +\* Reduced fees - TrustSwap fees are reduced by 50% when using SWAP tokens +\* Escrow/Custody services +\* Time locked smart contracts that can be used to facilitate OTC purchases for upcoming newly listed projects. This essentially helps to dump proof initial launches. +\* Smart Contract payment services. Can be used to facilitate payroll functions for companies who pay employees in crypto. +\* Future builds to facilitate Cross-Chain function of all TrustSwaps' utility. +'Soon, iPhone users will be able to hold FaceTime video calls with Android and Windows users for the first time. They will also be able to use a new feature called SharePlay, which lets you hold a FaceTime call and watch a streaming movie, listen to music, or share your screen with your contacts. IMessage is getting a boost as well, with new features that make it easier to share web links, photos, Apple Music tracks and Apple News articles with your contacts. + +In short, Apple is laying the groundwork for a suite of social features designed to let you do a lot of what you would normally do on Instagram and Facebook, only with more emphasis on privacy. Think of it as a watered-down social network without all the bloat and annoying stuff you find in other apps. + +It’s the kind of stuff that will drive Facebook CEO Mark Zuckerberg absolutely crazy.' + +- + +The new features will launch this fall as part of Apple’s iOS 15 update for iPhones. + +Full article and source: https://www.cnbc.com/2021/06/08/apple-ios-15-new-social-features-will-compete-more-with-facebook.html +I had some questions about this tool and thought it would be better posted to as a post rather than a comment on the daily discussion thread. That's because everything in this calculator lies right at the heart of retirement planning, whether early or average age retirement. Getting those numbers right seems critical to decisions about when to choose to early retire or to work some more years. + +Here is the calculator: +https://engaging-data.com/will-money-last-retire-early/ + +First, do you trust this calculator? In other words, do we know if it is accurate in terms of historical values and the math that plots the results? I would assume so, but figured I'd ask. + +Then, I had some questions about what are "FIRE-wise" figures to put in for some of the variables. Obviously, this will depend on everyone's situation and preferences to some extent, but some values seem like they would depend more on what is the most astute FIRE strategy. Those values are these: + +1. **Average tax rate.** The default value is 0%. That doesn't seem realistic unless you live in a no income tax state *and* you are doing the "never pay taxes again" strategy. +2. **Retirement years.** - I feel that longevity gains may really shock us all in the next 30-50 years given the pace of molecular bio research, such as CRISPR. I'm nearing 50, but feel that I should put in 50 years of retirement just to be on the safe side, as it would be rough to run out of money at 90 and then have to eke by for 10 years as a ward of the state, either for myself or wife or both. +3. **Investment fees.** I use Schwab as my after-tax broker and choose no fee Schwab ETFs, and they have an expense ratio of 0.03%. I don't know what my fees are like within my 457(b), 403(b)s, though. +4. **Extra expense.** I've seen news reports that for U.S. retirees, they may expect to spend $285,000 on health-related expenses ([CNBC](https://www.cnbc.com/2019/04/02/health-care-costs-for-retirees-climb-to-285000.html): "A healthy male-female couple retiring at age 65 in 2019 can expect to spend $285,000 on health-care expenses in retirement, according to Fidelity Investments' annual analysis, released Tuesday."). Assuming they both live to 85, that's like $14,250/year extra. And that may climb significantly for many of us who are younger than 65 now. + +So, what would you put for these values? +I met a random guy recently and we talked a little bit about random stuff. After a while he came up with Bitcoin and asked me about my opinion. I told him that I own Bitcoin but not the exact amount. Anyway, it turned out that he had a certain level of criminal energy and had a ton of crimes convicted over the last years. Conversation went like: "I'd never harm somebody, you know that. But if I could make some fast money I'd get my guys, kidnap you and cut off your fingers until you tell me your seed". +We had some beers and continued with some different shit. But right now I am searching for some self defense tools. I've never felt so uncomfortable. Hope things will not get ugly. +Here is my advice: No matter how much you love the technology or how badly you want to share your Bitcoin story: Don't tell someone unless you are not 100% sure that he is trustworthy. Don't be foolish like me. +Im 26. An electrician. And im on track to earn about 44k this year. Much more then previous years. And I could probably manahe another 15k a year later in my career if I manage to build my position in the company as years go on.. aside from finding finding a better company to work for or a change of careers. which just may be the case. How can I hope to earn more money? + +I recently got into personal finance and I now see how screwed I am. My 401k brokerage says I'm 11 years behind schedule to meet my retirement goals of $1m at age 65. Which wasn't an insane goal from my understanding. + +I save about $900 a month spread across webull. 401k. Cryptocurrency. And a mutual fund. + +Is a career switch something I can pull off at this age without missing out on saving? + +I have no schooling. :( + +Something you never really think about as a young guy. Tempted by no student loans and a decent starting wage I got stuck breaking my back and 5 years in I'm near my possible max wage. Its kind of disheartening. +My grandpa died almost 2 months ago. My grandma has started getting hospital bills for the few days he was in the hospital before he died, with more expected. Medicare covered some, but she doesn't have the money to cover the rest. She has no retirement savings and is living off social security. What is going to happen when she can't pay those bills? Any ideas about what her options are? Thanks for any information! + +EDIT: wow this blew up, I have a lot to read. Thanks everyone for the information. I am going to have to try and discuss with her in more detail her financial situation and what bills she has received. I think finding a lawyer is the next step to get some advice. I imagine there are non-profits that can give free advice to her because of her age and situation, I'll have to do some research. Thanks again. + +EDIT 2: little more information...she doesn't have much of an "estate", no house, she rents, and nothing else valuable. They have a car that is worth maybe $3-4k that is still titled in my grandpa's name which isn't being used because she doesn't drive. She wants to give it to me as I am expecting a baby in January and my currently vehicle isn't baby-friendly, but I don't know if giving it to me will be the best thing with everything else going on. I imagine a lawyer will help with this. +I can’t say much but I work for a management company that manages assets for UBS. As of recent we’ve had appraisers come out from CBRE who is the lender for UBS. Without going into much detail it pretty clear to me CBRE and other lenders tied to UBS are taking over majority of their assets and liquidating them very quickly. I tried asking in depth questions about the underlying issue with UBS but both appraisers were only able to hint to me that they want zero ties to UBS. We all know UBS is short GME, so maybe there’s a correlation or maybe there isn’t but the timing of all this intrigues me. +In the 4 days since March 15, Tesla has risen from $766 to $905, up $139, or 18.14%. + +Tesla currently trades at 163 times earnings and has a market cap of $930 billion. How big do you think Tesla will rise in the future? + +Since the beginning of this year, the price of new energy battery raw materials has continued to rise, and the prices of various Tesla models have also begun to rise. What do you think the future will be like? +I started reading Rich dad poor dad a week ago. I always go through a point that rich invest in assets and poor invests in liabilities. So my question is how can a poor or an employee invest in an asset what are all the assets that needs less money to be invested. I am not interested in stock markets or mutual funds but I need to know other options I have. +Above were my first ever MF SIP investments made on October 18, 2016, and since then all of them have declined drastically. + +What are the reasons for this decline ? or I am just being extremely unlucky that as soon as I entered the market, all started falling :-( + +Is there some hope that they would recover well and give me good returns if I keep my faith in them and continue to do SIPs in them, or am I being too optimistic ? +Am applying for this IPO as all indicators point to street feeling that HDFC has under-priced it, probably due to what happened to ICICI Securities IPO. + +I am an existing HDFC shareholder, should I apply under that portion or normal retail portion or can I apply under both? +hey guys + +I have been lurking here a while and was wondering if any of you trade macro. By macro, I mean trading hypothesis on the broad economy, government and RBI policies. I am very interested in how these affect the market and less in how individual companies are operating. I guess you could say I'm more interested in economics that studying company financials. + +The rbi cut rates yesterday and subsequently, the rupee appreciated significantly. Does anyone trade on this kind of stuff? + +&#x200B; +Do you guys think that slashed corporate tax would help the economy to grow ahead smoother and faster? or else one should still wait for pouring in money into stock markets and other asset class. whats your view? +I had my SIPs on Auto-pay for 15th of every month, last night I get an e-mail that all my transactions have failed. I check my bank account, the money is still there not debited yet. I say no worries I can debit this month's SIP manually and wait for the next month. But no, when I manually debit via UPI the money is debited but status shows failed on Paytm Money. I'm not worried about the money, it will come back eventually but just want to know if this problem is just at my end or anyone else is facing it as well? +My positions: + +UPS 170c 10/23 +UPS 175c 10/23 +UPS 190c 11/20 + +My question is, when do I sell? I am not coming at this from a greed standpoint, but rather a, “when would it make sense?” + +I have never held a contract near expiration that was ITM (always sold beforehand) so I have no experience with it and cannot really get info on it. With ITM, why would the premium not go down as it approaches expiration? What benefit would someone have buying an ITM call a day before or the day of expiration? + +Would it not make more sense to hold an ITM position if you have the cash to cover it? +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +A few days ago I got caught up in the Sphere hype and exchanged 4 ETH worth about $12K for Sphere using Rubic Exchange. This was a mistake and for more reasons than just not buying the dip. + +&#x200B; + +[MetaMask Transaction](https://preview.redd.it/x7s83mffoiu81.png?width=342&format=png&auto=webp&s=2852345854ba278ab4962d77c543f491e6c9f042) + +I'm not sure what exactly happened but $2K just vanished at the exchange. Looking at the [transactions](https://etherscan.io/tx/0x90d233582efd622794459f84c3747b3ac41f7b295c98115946454e6c43d8282f), it looks like Rubic swapped my 4 ETH for 10,257 DAI which makes no sense, but that's what they did. By the time it got to the end of the transaction the math which should have looked something like this: + +(4 ETH \* $3021.76) - $27.11 ETH Gas - $.15 MATIC Fee = $12,044.93 + +instead looked like this + +(4 ETH \* $3021.76) - ***RUBIC does some shady shit*** = $10,205.55 + +&#x200B; + +[Etherscan details](https://preview.redd.it/okyxz4o6oiu81.png?width=1375&format=png&auto=webp&s=5d5f6b227cc61502dafe344b2b211a16d254282d) + +I have since been chatting with them. It's been 5 days. At one point they said "I've received an update that the remaining balance (2k$) has to be saved on your account." But never specified which account and then backtracked when it never showed up. + +&#x200B; + +[Confirmation](https://preview.redd.it/onhxwei9oiu81.png?width=375&format=png&auto=webp&s=8d197c72b6ebded2480cda592c9ba4e600e54ca9) + +9 times over the course of 5 days I've been told it's being sent to their developers, but no one has coughed up the missing $2K + +They even deleted messages. + +[Deleted message](https://preview.redd.it/1qdjerm2oiu81.png?width=366&format=png&auto=webp&s=110c55791afd0b976dd4f27bb7cfe16c006e6c17) + +Talk about shady. Not sure if this is a straight up scam or their tech is just bad, but STAY AWAY FROM RUBIC. + +TLDR: I sent 4 ETH ($12K) to Rubic to buy Sphere and they stole/lost $2K of it and have been giving me the run around ever since. + +Note: For the record, I didn't just go off and try some new service without testing it first. The day before I bought $1K of Sphere just to make sure the whole thing worked and it went through just fine. + +Note: I just looked at Sphere again and now it seems the default exchange is no longer through RUBIC. Interesting. + +Note: It seems pretty clear now that this was a MEV bot attack. Though I still hold that Rubic should have done more to protect me. The fact that they still haven't figured out what happened and have been "sending this transaction off to the developers" for almost a week now shows that internally they are not working on this issue. +I started working when I was 13. Dishwasher at a private club. By the time I was done high school I was running the small kitchen at the halfway house during the summer and on weekends and nights during school working as cook in the main dining. This taught me 3 things. + +1. How to spend money wisely. +The head chef, who is still there bless him, taught me how to do the weekly food orders from the suppliers when I was 15. I had to know what we needed, what we had, and how to aquire it. And I learned how to cook like a mfer. + +2. That wealth is for the most part perceived. Anyone reading this can get a credit card and spend 10000 and feel rich for a day. But then it ends. And then your ducked with a 10000 bill. The people that saw you spending money didn't know your situation. They assumed you could afford it. The same way you'd assume if you saw them spending money. Never trust that someone has wealth because you see them in the company of wealthy people. + +3. That if you work hard, and actually try, that you can accomplish any plan you set your mind to. + +I planned to attend university, work hard and spend wisely. + +That mind set kind worked. I was still only 18. What seemed like obvious things to me then are now painfully learned lessons that remind you not to take anything too seriously. But even with some bumps, and some luck, I was working a desk job at 22. 30000 a year. And that's when I learned my next lesson. + +4. Have a plan. And really want it. Set it up. And then go live your life. + +Retirement at 65 when you love your job is a death sentence. If you love your job, I don't begrudge you that happiness at all. I envy you. But no one here reading this wants to work at 65...so...what will you be doing? + +Plan towards that. If you're 25..what would you be doing on a Thursday afternoon in February when your 45? + +If you're answer is paragliding in the alps...that's gonna cost ya. If it's watching the view while eating cheeto's. Budget accordingly. + +When I started my desk job at 22..the first week I looked around the office. I looked for who had it best. Not the manager who was always dealing with stuff. Not the administration people. But I did see a guy who came and went as he pleased and drove a bmw. The sales guy. + +I knew I wanted to be done at 40. That I wanted a family. A house to call our own. And theven security of never having to ever live poor. + +So I set up a budget and forced savings from there. And promptly ignored it for the next 15 years. + +I will say this...I do have a pension, something rare in today's day and age. But by being part of a db plan, setting up max matching contributions when I first started and waiting until when we earned higher incomes before taking advantage of RSP room, we're now at 500k in savings with about 750k in house equity and a pension income from age 60 onwards of about 3k a month. + +What I did wasn't flashy, but it got me to the point where I think I could choose whatever path I want. + +Which is really what all this is about. + + +This isn't being talked enough here. We all know we will be filthy rich, yet have vague ideas where to store your tendies at most safest option/place. A lot mention credit union but how are you going to deposit $690m in there if the limit is 250k? Check sounds risky and you would need to deposit that somewhere, so where? Crypto? No that is too risky as HFs own it. Spread your tendies into different banks at limit of 250k each? That's at least 200 banks you are talking about. Gold, houses, any other tangible assets? Ok how are you going to invest in those if banks are going bankrupt? You can't just invest in those from CS an takes a while ro process of owning them. Fidelity? Ok what if they go bankrupt? Please don't reply "I wilL nEvEr sElL" cuz that's impossible and you are just wasting everyones time. Hookers, drugs, w.e the fk you want to do with your tendies, NEED safe places to take your money out to do those. What is your plan? What would be the safest way to protect your tendies right after selling? + + +Edit- yes you have great future ahead with all the things you wanna do with tendies (investment, crypto, real estate), but this post is to have discussion or suggest ideas where to store tendies RIGHT AFTER you sell them. Where will you keep your $690m(1 share)? +I'm down heavily on some of my investments. I invested in MTCH at $160 (now $123), Robinhood at $50 (now $14), Affirm at $109 (now $72), Farfetch at $45 (now $27) and some other smaller investments that are also running me a loss. + +I can't believe I gave into the hype. Looking back at the time of my investments, all these stocks were trading at \~80-90 their sales and they're all undergoing correction now. Some of them have lost half (if not more) of their value and it'll take decades for them to recover. + +I do have some investments that are doing really well and keeping me afloat, but I now understand the importance of the three fund portfolio, or just investing in index funds. + +I'll keep coming back to this post every time we enter a new bubble, just to discipline myself and not get carried away by the noise. + +&#x200B; + +**EDIT:** finished work and read through the comments and there seems to be some confusion around the PE I mentioned. I meant \[80, 90\] (x = variable). If the PE was around 8\~9, that'll make it a good bet and I probably wouldn't have written this. + +**EDIT 2:** Wow, lots of great advice in the comments. I really didn't expect this post to garner so much attention, but I'm thankful for all the learnings shared in the comments. I'm 26 years old and this is my third year investing. I think this fiasco was a blessing in disguise. In my first two years of investing, everything was in the green. I felt I could do no wrong and I've found the cheat code to grow my money. I've learned my lesson the hard way but I'm still young and I'd rather lose some money now than 10 years later when I have more responsibilities. + +And for those asking, I have around $230k invested in the market (apart from a Vanguard 401k, but I don't ever look at that) and my losses accrue to $65k in total. Overall, I'm still in the green but barely. Hoping to DCA more into QQQ (I work in tech so I understand Nasdaq 100 much better) and get the numbers up. +Morning AusFinance, + +As many keen observers of the American markets would know inflation numbers came in yesterday at 4.2% (above expectations). The American markets reacted negatively as higher than expected inflation rates will inevitably lead to higher interest rates which impacts on the tech sector heavily. + +Historically does the RBA interest rates change or copy the American markets? or do we think that they won't be increasing until we hit 4% unemployment? If we do follow, how much do we lag by? + +The scenario I see playing out in theory is inflation concerns in America leading to increased interest rates, how does this affect the AUD and our exports? + +Happy for open discussion on this from all angles e.g economic growth implications, currency, housing, employment. +Suncorp is announcing tomorrow the following fixed rates. + +The rates are quite aggressive: + +* New fixed 3 year rate for OO up to 90% LVR on P&I at 3.49% (3.44% with fast refi) + +* New fixed 3 year rate for INV up to 90% LVR at either P&I or IO at 3.69% (3.64% with fast refi) + +I assume more info should come tomorrow with a media release. +I’ve used numerous banks over the years and very few of them have allowed me to use strong passwords. It’s likely they’re using outdated and insecure methods of storing passwords and are possibly storing them in their ancient mainframes instead of using a dedicated authentication service built with internet-era tech. Some examples that come to mind: + +* ANZ: 8 to 16 alphanumeric characters +* Citibank: 8 to 16 alphanumeric characters +* Westpac: Maximum six alphanumeric characters +* ING: Four digits + +Which banks, credit unions, etc. allow you to use a strong password? + +Bonus question: Of those, which of them have two-factor authentication that uses TOTP/HOTP (e.g. Google Authenticator)? +[More building companies to 'topple over', as display home giant Metricon sheds staff to survive](https://www.abc.net.au/news/2022-08-02/metricon-job-losses-construction-homebuild/101293608) +I'm sitting for level 2... just spent the last 16 hours of my life doing equities problem sets. Just wondering if anyone else out there is taking it / how you think you're doing with 2 days left to go. I'm testing at 78% right now on the Schweser online data bank after 1,400 questions and sincerely hoping i can retain this stuff when it matters! + +**EDIT:** If anyone is taking it in Boston, the Long Island Iced Tea Party starts at 5:30 at Legal Harborside! And good luck!!! +Why aren't governments with bonds trading at negative interest rates issuing more bonds? Surely they should just issue as many bonds as they can while the rate is negative and hold the required payback funds at their reserve bank until repayment is due. Any excess funds can be taken to general government revenue now with zero risk to the taxpayer. This would be great for government project work at no expense to the citizens. + +Am i missing anything? This seems too obvious to not be done already. +I'm currently an intern at a small IB/PE shop. I enjoy what I do, but am curious about the future of this industry. + +I've obviously noticed the replacement of humans with robots in many fields of work in different industries, and am wondering if IB firms are on a permanently declining path. + +I understand many firms that engage in regular acquisitions now have their own internal teams, since they find it unnecessary to pay an intermediary such large fees when they can do it themselves. Would you recommend I begin aiming for these positions, as opposed to boutique/middle market IB firms? + +Thank you. +As we all know the ruble is somewhat pegged to oil. Oil can't free-fall forever, it'll hit a stable point and then eventually rise, just as it always does (or maybe not? just a conjecture based on patterns). If so, wouldn't the ruble then regain value? Tell me why I'm an idiot before my rainy day fund goes full Russkie. + +EDIT 1: There has been a lot mentioned about how oil affects the Russian economy, and ultimately the value of the Ruble. So I looked at [historical inflation adjusted oil prices per barrel](http://inflationdata.com/Inflation/Inflation_Rate/Historical_Oil_Prices_Table.asp) as well as [historical data on the Ruble](http://finance.yahoo.com/echarts?s=RUBUSD%3DX+Interactive#%7B%22range%22%3A%2210y%22%2C%22scale%22%3A%22linear%22%7D) to try to get a better understanding of the correlation between the two, if one exists. I crunched some numbers and had some interesting findings. From 2013 to 2014 the average price of crude/barrel has fallen from about 92.41 to 77.5, a 19.2% decrease. The last time we saw a fall of this magnitude was from 2010-2008 when crude went from 100.01 to 77.1, a 29.7% decrease. It's no coincidence that from 2010-2008, the Ruble saw an 18.3% decrease in value, and now in 2014 we've seen a 27.7% decrease in value. So what does this tell us? Oil prices and the value of the Ruble are related to an extent. + +I have a guess as to what's happening right now with the Ruble. Right now, the Russians are in a pinch with Putin. The Crimea sanctions are preventing the Russians from implementing technology to access more available oil. The sanctions aren't going to be lifted or lightened until Putin stops activity in the Ukraine. In a sense, Russia's economy, and by association the Ruble, is being held hostage in order to get Putin to pull out of the Ukraine. The sanctions are slowly withering the Ruble, so the question to be raised is: Will Putin let it die? +I'm getting a lot of experience with equity analysis now, working for an investment club at university. I find it extremely rewarding at times but sometimes I just get really sick of it. + +Trawling through 10Qs and 10ks and then other reports looking at macro drivers etc... Doing a week's worth of analysis only to come to the conclusion that this is unlikely to be a good investment. I don't really enjoy the unpredictability of finance but such is the nature of the game. I don't like how you can put so much time and effort into researching something and you could ask someone on the street to pick a company at random and their decision may be better than yours. I guess it's all about reducing your chance of error by doing good analysis. + +What parts of finance do you love/hate? +Every time I hear about some bankruptcy affecting pensions, I start wondering "why didn't the workers or the union take control of that early on?" Is there a reason that a company wouldn't want to avoid taking on that liability, or that a worker wouldn't want control over that to be tied to something other than the fate of the company? (I ask /r/finance because it seems like, if there is an answer, it lies in corporate asset structures, or somewhere similar.) +&#x200B; + +https://preview.redd.it/ly044ll8rp381.jpg?width=1080&format=pjpg&auto=webp&s=67962b38c3371683dcb5e4bd59cb9629c10d7225 + +100 years ago on December 3, 1921, Henry Ford discussed an idea he conceived. It was published the next day on December 4 in the [New York Tribune](https://chroniclingamerica.loc.gov/lccn/sn83030214/1921-12-04/ed-1/seq-1). The title of the published article was called “Ford Would Replace Gold With Energy Currency and Stop Wars.” + +Ford is well known for developing the assembly line technique and creating one of the first mass-produced American-built automobiles. Ford’s energy currency concept describes a digital currency much like Satoshi Nakamoto’s [Bitcoin](https://www.bitcoin.com/bitcoin.pdf) and one that is also scarce. + +Not only would Ford’s energy currency be backed by energy measured in kilowatt-hours (kWh) he also [discussed](https://chroniclingamerica.loc.gov/lccn/sn83030214/1921-12-04/ed-1/seq-1/) with the Tribune that the currency would “be issued only to a certain definite amount and for a specific purpose.” + +It has always been understood that Henry Ford was well ahead of his time, but he also thought about a concept that is very similar to what’s described in the [Bitcoin white paper](https://www.bitcoin.com/bitcoin.pdf). + +***It's very simple when you analyze it. The cause of all wars is gold. We shall demonstrate to the world two things, first, the practicability, second, the desirability of displacing gold as the basis of currency and substituting in its place the world's imperishable natural wealth.*** + +***Almost everybody in the world except the newspapers and the bankers recognize that civilization has entered on a new era. The newspapers don't see it and the international bankers don't want to see it-it would mean changes in world finance and bankers always oppose changes.*** + +This is mind blowing vision from Henry Ford for the early 20th century. + +87 years later we got Bitcoin. + +&#x200B; + +Source : [https://richpicksdaily.com/how-henry-ford-envisaged-bitcoin-100-years-ago-a-unique-energy-currency-that-could-stop-wars/](https://richpicksdaily.com/how-henry-ford-envisaged-bitcoin-100-years-ago-a-unique-energy-currency-that-could-stop-wars/) +OK so I took out a payday loan from spotloan in June for $800 to pay some immediate bills until next pay cycle. I have paid them $500 out of the $800. They say that I still owe $1100. So I called them today and they wanted me to give them $265 a month for 11 more months and that's way more than I borrowed. Do you suggest I stop payment or close the account they are getting out by ACH transactions? I know it's best to just pay it off but right now I've had to deal with alot of shit like home repairs. I plan to pay them off by November or December in full. +25M, South Wales. Living in a 2 bed rental terraced house (think typical Welsh terrace, stone walls etc). I was in a long term relationship until a month or so ago when my partner walked out on me. Rent is £535/month basic, so I pay all other utilities, council tax etc on top of that. Property is in ok condition but boiler has just stopped working today and it will take me a while to get the landlord to repair, from previous experience. There are holes in the walls, badly done repairs, and worst of all no insulation anywhere apart from the roof. No heating in bathroom or kitchen and none of the doors internally! + +I early £28k a year and am due a salary review in September next year. I have a car, but own it outright. I have no debts, credit cards etc and have £11k in savings. + +I get fed up of throwing my money down the drain to the landlord when the property isn't maintained well and any repairs take a long time and are half-assed. + +With my salary I could borrow around £95k-£100k, so plus my deposit gives me around £107k total budget. + +I wouldn't be able to get much, and anything I did buy would likely need extensive renovation which I would need to find the money for. + +Question is, am I better waiting until I have a higher salary in a few years time, or really stretching my budget and buying now? The repayments wouldn't be much more than my current rent but I know I would need to pay for all repairs, probably a new boiler and new electrics. I have friends through work that are plumbers and electricians so could probably get 'mates rates' on some of the essentials for the place to be safe. + +Decorating and carpets I would do myself. + +Thoughts? Really appreciate any advice! +All the major bank stocks are down today, including Wells Fargo, Bank of America, and Chase. For the last month they've been down roughly 6-8%. + +UBS Analyst [raised targets for all three banks](https://www.marketwatch.com/story/ubs-singles-out-bank-of-america-as-top-pick-in-glowing-view-of-bank-stocks-11639164427?siteid=mw_robin&mod=mw_RHF): + +* BAC: $37 raised to $64. +* JPM: $149 raised to $210. +* WF: $47 raised to $65. + +What's causing the drop in bank stock prices? Shouldn't rate hikes greatly benefit banks? Is this a sign that we're going into a recession? Would you invest in these banks right now? +Hi Y'all, + +&#x200B; + +I wanted to update the deep dive with some more analysis and why inflation is coming + +&#x200B; + +External analysis: + +New Correlation: + +[https://www.bloomberg.com/news/articles/2021-02-16/bitcoin-s-ebbing-correlations-boost-its-diversification-benefits](https://www.bloomberg.com/news/articles/2021-02-16/bitcoin-s-ebbing-correlations-boost-its-diversification-benefits) + +Old Correlations: + +[https://www.coindesk.com/bitcoins-price-correlation-with-sp-500-hits-record-highs](https://www.coindesk.com/bitcoins-price-correlation-with-sp-500-hits-record-highs) + +[https://www.forbes.com/sites/investor/2020/05/13/bitcoin-and-stocks-correlation-reveal-a-secret/?sh=3da883d312c2](https://www.forbes.com/sites/investor/2020/05/13/bitcoin-and-stocks-correlation-reveal-a-secret/?sh=3da883d312c2) + +&#x200B; + +My Analysis: + +&#x200B; + +Historic S&P to BTE: + +[Data from St. Luis FED](https://preview.redd.it/fuy3himt1ul61.png?width=1540&format=png&auto=webp&s=f0fb6b52347b14db5774548b8844630858d728f1) + +As you can see below, for most of the recovery (March through November), the historic tie between S&P and BTC held at 84% of variance explained with a high degree of significance. + +&#x200B; + +https://preview.redd.it/vdztzqab4ul61.png?width=505&format=png&auto=webp&s=0a6bc79a81a27e31fc9db94c5fa9ddd369187e17 + +Diving Deeper, when we analyze the full YTD trend line we see a strange phenomenon, that historic \~84% variance model shifts dramatically in its explained variance. Doubling standard error, and reducing the R2 from 84% to 59%. The vast majority of this happens from November to March. + +&#x200B; + +[BTC Price to S&P Index](https://preview.redd.it/1pmluaci2ul61.png?width=1529&format=png&auto=webp&s=e3af0e1fe5f048d8f5696a2295fb1cf4fda4d349) + +https://preview.redd.it/go6v4uob2ul61.png?width=527&format=png&auto=webp&s=3b044dd81e28a42389c7da6f371e70ed90e939ad + +Given the historic tie between BTC and S&P, per Coinbase and Forbes, this needs to have a causality. Finding the causality, one needs to look for larger changes in the overall state of the economy and what Bitcoin means as an asset. + +The macroeconomic theory Quantity of Money's equation: MV = PY, where M is money supply, V is money velocity (how often a dollar changes hands), P is average price per good, and Y is output (or real GDP) can be rewritten as M= PY/V or money supply equals PY(Nominal GDP) / Velocity of money. + +&#x200B; + +Historically, in the short term, prices are sticky; meaning it takes time for average price of goods to reflect a change in the overall money supply. Compounding this, the money supply only affects inflation when velocity increases. + +So going back to the quantity of money equation that the Fed uses, MV=PY, the Velocity of money has been depressed by the pandemic (people have been spending less). So we're waiting for post-Corona Inflation, where velocity returns to normal rates, putting all that money back into the economy. Prices in the short term are sticky, meaning that they are resistant to change, and that's where we're headed. Dollars are, in real terms, going to be worth less than previously, and by a lot. + +&#x200B; + +So how much is a lot? + +&#x200B; + +That's where you need to take into account what a dollar really is, which is a (mostly) non physical unit of account that, due to our system of fractional banking, can be in many places at once. This idea of a dollar existing in multiple place has a name, and its called the money multiplier. The money multiplier is how much "digital" money is out there in proportion to the monetary base (the amount of physical dollars). You get this by dividing the amount of money held in accounts and in reserves (money that banks are required to hold as collateral) + +&#x200B; + +Seen here: + +&#x200B; + +[M1,M2,MB In Billions, Source: https:\/\/www.federalreserve.gov\/releases\/h6\/current\/default.htm](https://preview.redd.it/rnm04e5ylul61.png?width=815&format=png&auto=webp&s=abbde0cb408678d993bd36dad5edf252072f02ce) + +So for every dollar printed, as of January 2021, 3.45 dollars are added to the money supply. Not that big of a deal if your printing a few dollars. So lets put it in perspective. How much money was printed? + +Lets go back to the Fed to find out: [https://fred.stlouisfed.org/series/MANMM101USA189S#0](https://fred.stlouisfed.org/series/MANMM101USA189S#0) + +&#x200B; + +[&#37; Change in Money Printed by Year\*\*](https://preview.redd.it/4odyxiwpoul61.png?width=1168&format=png&auto=webp&s=5b68517abc585b5e212e66a4a9852f2e4652f36a) + +OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),[http://dx.doi.org/10.1787/data-00052-en](http://dx.doi.org/10.1787/data-00052-en) (Accessed on 3/8/2021) + +&#x200B; + +Digging into the data, from 2019 to 2020 you see a 34% jump in the money supply. To state that again, 34% of all money in circulation was printed within the past 12 months. + +&#x200B; + +To put a number on it, as of January 1st, that was $1,307,858,333,333.33 that's 1.3 trillion physical dollars, but that's not it. To find the amount of non-physical dollars in the money supply, take that 1.3 trillion and multiply it by the money multiplier. As of January, every physical dollar introduced resulted in a sum of 3.45 physical and non physical dollars. + +&#x200B; + +So why isnt everything 34% more expensive? The purchasing power of the dollar should be reduced because there's less of it, right? The answer is yes, and no. This is where "sticky" short term prices come in. So long as the velocity of money stays below average due to the pandemic, inflation is at bay. + +&#x200B; + +\- BUT - + +&#x200B; + +That's temporary at best, macroeconomics show that in the long term, equilibrium will be met. A shift in the Monetary Supply, driven by the FED reducing interest rates for banks (allowing them to borrow for almost free), and purchasing Government bonds (with newly printed money), drives Aggregate demand up. + +&#x200B; + +[Money Supply and Aggregate Demand](https://preview.redd.it/i46kalijsul61.png?width=418&format=png&auto=webp&s=e9497aeac5429d9403dba4a19a75d4310d5bd069) + +&#x200B; + +Aggregate demand pushes prices up (in the long term), and increased prices (inflation, again long term). Resulting in the rebalance of prices and output to the new equilibrium. + +So here we stand, the Fed has pumped money into the economy through purchasing bonds - increasing the money supply, but rather than spend the money, the average American is saving it. The Money supply = Nominal GDP/ Velocity hasn't caught up to the Fed's influx of cash. When it does, prices will shoot up to match the change in real purchasing power. + +&#x200B; + +So what does that have to do with Crypto? + +&#x200B; + +Capped cryptocurrency, unlike the USD, isn't subject to a regulating body that needs to fund itself. There is no loss to road maintenance, no loss to paying civilian employees, no loss to purchasing land, buildings, or warships; its a much more efficient unit of account. More importantly, unlike the USD, creating more crypto costs a exponentially greater amount of resources over time. Its more akin to Gold than it is to the USD. + +&#x200B; + +People are not willing to buy US bonds due to fears of inflation, driving the bond market to increase the yield to entice people. The former bond holders, out of fear of increased inflation are flocking to alternative assets. Crypto has benefited from this phenomenon and is set to continue to benefit. + +Seen here: + +&#x200B; + +[Data: St. Louis Fed](https://preview.redd.it/5pujdni3zul61.png?width=1539&format=png&auto=webp&s=c62250af1fbd90ca816fa1a962ecae2f74315000) + +&#x200B; + +[BTC to Bond Yield](https://preview.redd.it/v9i9w5t7zul61.png?width=787&format=png&auto=webp&s=b88ae2ea4c1211f86f4ea4be1248b8723b946871) + +We have a bumpy ride ahead, HODL. + +&#x200B; + +TLDR - + +The quantity theory states that the rate of money growth is directly proportionate to the rate of inflation. The Fisher Effect states that the rate of inflation is directly proportionate to the nominal interest rate (a .71 R value). The nominal interest rate is key because historically, bond prices have a negative correlation to nominal interest rates, meaning the higher the interest rate, the lower the bond sales, the lower the bond sales the higher the yield they need to offer. + +The bond market is starting to move with Inflation, and rather than keep cash in bonds or USD, a currency that potentially lost 33% of its real value as more was printed, they flocked towards BTC and ETH; rather than slowing down, this pattern may speed up as we see the fed slow to react to inflation by reversing its stimulus policy. + +The inflation that everyone is worried about is already happening, institutional investors have already begun switching to BTC over bonds. The real fun will happen when retail switches over en-mass and purchases smaller coins. + +&#x200B; + +Bullish on (in order): ETH, BTC, DOT, & ADA + +&#x200B; + +This is not investment advice. + +&#x200B; + +\*\*\*Edit: Thanks for the Platinum, silver, and hugz!! \*\*\* +PF's "standard advice" wavers a bit in this regard but most people seem to agree that it's worthwhile to continue investing in the stock market while you have a mortgage if you have a "good rate" (<5%~). The idea being that passive index investing should return well over that rate over a long period of time. + +However, PF also heavily recommends *against* investing with other people's money (IE, taking out a loan to invest). Given that you can find margin rates below current mortgage rates, it seems pretty easy to implement this if you wanted to. If you're willing to put $100k into the S&P500 instead of your home loan, what's the difference in risk between doing that and taking out a loan for $100k and putting it into the S&P500? The entire modern idea of saving for retirement (via IRAs, 401ks, etc) seems contingent on the idea that the market will continue to rise at rates similar to how it has in the past. + +I understand that the leverage provided by a mortgage is an incredible opportunity to "get ahead" by enjoying the full value of a home without paying the full opportunity cost, but doesn't investing on margin get you the same thing? + +Edit: To be clear, I understand that leverage can be a dangerous tool in any situation and that over-leverage is a thing. However, isn't it possible to utilize leverage without being over-leveraged? For example, if you have an account with $100,000 in the S&P500 and choose to borrow $10,000 more at a reasonable rate to invest in the S&P500, how would that strategy fare over a long period of time? +Thoughts on ALGO? “All” chart on Coinmarketcap shows trades started in mid 2019th at ~$2 but it dumped to $0.30 3 months after, hovered around that price for most of the 2020 and then pumped in 2021 as everything else. + +I see it mentioned a lot in daily, in a good way, so does anyone want to share any insights about this coin? Is its value increased cause its fundamentals are good or its increasing because, well, everything else is also pumping? +Hello! + +I'm soon to be a recent graduate, and thankfully, I've got an excellent job lined up. I've been on this sub for about a year now, and it's brilliant. I feel much more comfortable that I know what I need to do, and what the future could hold if I'm smart. + +I've followed the flowchart, absorbed the wiki and posted the posts. But for the people of r/UKPF, what do you wish you knew before earning money, and being careful with it? What isn't on the flowchart? What do you wish you had done differently? +I made this to help you noobs who dont know shit about stocks. This is part 1 of a series aimed at helping you guys have a fighting chance against wallstreet. Remember you are going against the sharpest minds in the world and you will lose. But you have me in your corner and im rooting for you guys, I believe in you + +Volume + +-A trend that moves on steady volume means that its likely to continue aka price is rising or price is lowering + +-Falling volume means that a trend is likely to reverse, whether price is going up or down, it applies to both + +-A burst of extremely high volume means that its trend is likely to reverse. Usually when the stock reaches its peak or when all of a sudden it crashes, keep your eye on the volume + +-If there is Low volume and the price stays the same, it usually means thats this is the new normal price. People are unfazed by slight price changes here, this is the new normal + +-A second price breakout after one just occured is usually marked by yet another high volume spike. It usually means losers are heading for the exit because theyve been bag holding and cant take the pain anymore or bulls are jumping back in + +-a price breakout in low volume means that its fake, the price will recoil + +-rising volume during a rally(after a stock crashed)means that even though the bagholders are leaving, new losers are coming in + +-When volume shrinks during a rally, it means that bulls arent as eager to keep buying at these high prices. Fuel is being removed from this ship. A reversal is imminent + +-When volume dries up during a decline, it usually means a reversal. That is the bears are no longer shorting and the intelligent bulls who got out a long time ago are ready to pounce yet again + +-As a rule of thumb, if todays volume is higher than yesterday’s, it means that a trend is likely to continue + +-Volume is relative, what is high for ibm may be low for apple. What is low for apple may be high for ibm + +-As a rule of thumb, high volume is 25% higher than the avg volume of the past 2 weeks and low volume is 25% lower than the avg volume of the past 2 week + +-High volume confirms new trends. If prices rise to a new peak, and volume reaches a new high, then prices are likely to retest, that is go below the peak and come back to the peak to see if it can exceed it or go back down. + +-If a stock falls to a new low, and volume reaches a new high then that bottom will also retest- that is go up and come back down to that bottom to see if it goes even lower or stays there + +-the true bottom of a stock occurs on low volume and is always retested at low volume. If it stays the same then this is a great buying opportunity + +-if volume shrinks during an upwards or downwards trend then that trend is ripe for a reversal + +-When a stock reaches a new peak than it was yesterday, but the volume is lower today than yesterday- this is a great shorting opportunity, that is: Now is the time to sell or time to buy puts + +- This does not work on a downwards trend as a stock can keep going down even with low volume. It takes buying to move a stock up, but a stock can go down on its own weight + +-Watch volume during a reaction against the upward trend(aka panic selling). If the dip continues but volume shrinks, it means bulls are no longer running or selling pressure is spent. When the explosion of selling volume dries up, then it means that the upwards trend will resume. This presents a good buying opportunity or to buy calls + +-Many downtrends are punctuated(occurs at intervals) by rallies(price goes up momentarily)which begin on heavy volume. These shake out weak bears which causes volume to shrink and gives a signal to sell short~ this means that short sellers are now sure that the stock will crater because no more rallies + +:thanks for the love. I just want to help people +:but i feel that the Reddit users with flair despise me because im teaching yall. So i want to level the playing field as flair helps you get taken more serious here. Ive asked the wsb mods for flair so i can reach a wider audience. If you guys want to help me out i ask that you mssg the mods and ask yhem to give me flair so i will get taken more serious by retail +Ty love you all + +Edit2 +Tomorrow stay tuned for my part 2, open interest and so forth for this week to complete the picture and arm you lovable losers with a complete straitjacket so you can swing your big cocks and tits at wallstreet. I am the most hated person here by most users with flair because they want to keep you ignorant. Youre just paper to them, not human beings. +Lets show them how paper can become money.......airplanes.......and eventually soar + +Edit3: check out my part 2: the basics and the philosophers stone on making fat stacks + + +Fly like an eagle🎶 +I want to start a shared bank account with my bf for our shared bills, rent, etc.But how does transferring money work?For example, I have Chase and he has Kinecta.If we were to have a shared bank account with one, the other, or a completely separate bank, how would we and how difficult would it be to transfer funds to the shared account? + + +Edit: I am aware of the risks of sharing an account with someone. +I'd prefer to have a joint account so we both don't have to worry on who's "paying this time", Venmo-ing each other multiple times a month, and making sure to pay each other back. It is very disenchanting to our relationship and a hassle. +I bought a used car a few months ago and have a remaining bill for 2600, I have 3k in savings (got a PPP loan) and wondering if I should pay the car off and save about 2k in interest over the 60-something months of the loan OR, because I am poor and live paycheck to paycheck, working online jobs that fluctuate in what they pay - so would it be better to keep this 3k around, and eat the 2k interest over the long term several years of payments, but be more secure in the short term? + + +And yes, I know traditional wisdom for traditionally-incomed folks would be to pay off the car ASAP. I just wondered if there were desperate circumstances when it was better to keep your chunk of money, even if it costed you more down the road or if it was always, always the better & wiser & more financially sound thing to do to pay off the big bill early as possible? +I decided that it is time for me to get a job that offers a bit more financial security through salaried pay. While I do get how salaried pay generally works, I don't have exactly all of the answers that can help me. + +So first off, is it really a good idea to just go head-on into getting a salaried job? I do have a bit of a cushion to fall back on should any career fall through, as well as a hefty (yet temporarily inaccessible) sum of an inheritance that I have for myself. I've been able to live comfortably enough with my current job, but I've been worrying more and more about soon being unable to stay afloat, even with budgeting. I'm usually lucky if I make at least $725 in a paycheck now, with $660 being the norm for me. So I am pretty eager to start up a new job that can help me worry a little less about keeping a stable grip on my present financial situation. + +Lastly, when starting a salaried job, are you given part of your salary upon starting? This is something that also has me hesitant to just charge head-on into a salaried job. I don't want to be stuck with quickly burning through the money that I have at present and end up going down shit creek without a shotgun. I know it's probably a dumb question, but I haven't had much experience with this sort of thing. + +Sorry if this all sounds a bit dumb, but I just need a bit of help in this field. Thanks for your time with helping out! +Hi members of r/financialplanning! + +As the title states, I’m 16 years old, and I have about 10k saved up. I’m planning on opening a Roth IRA soon, but what else can I do to grow this money? I know that 10k isn’t very much in the grand scheme of things, but I know I have time on my side and I want to maximize this advantage. What would you recommend I do with the money (apart from the ira)? + +Thanks for any and all insight! +Been lurking/learning for a little while... I'm pretty good with my day-to-day finances, but investing (aside from the retirement account I've had for several years) is totally new to me. + +My goal: I'm 35, married, no kids, and self-employed so I'm pretty content with my current situation - just want to grow my savings for future security and because I know it can do better than sitting in the standard savings account it's in now. + +I see a lot of people pointing to index funds and ETFs as the way to go for long-term growth. My first question is, does the main difference between the two come down to how much you want to manage that money? IE, put it in an index fund and just let it ride, or do more day trading with ETFs? + +And question number two, is it better to put a big chunk of money in a single index fund, or should I be diversifying with smaller amounts spread across multiple index funds? +I am 26 and have $30k in debt. 25k is student loans and the other 5k is spread out between four different credit cards. I do not have anything in my savings account. I gross $38k a year. I live alone so I am not able to save much. My lease is up next September and I know that I want to move into a cheaper place. I have managed to cut down on my expenses to the point where I should have around $300 to $500 extra per month starting January. Where does this money need to go? I do not know whether I need to pay off my credit card debt while also trying to create a savings account or if I should save a certain amount first. I do know I need to have enough saved to move when the time comes around. I don\&#39;t know how to deal with any of the uncertainties the new year will bring and it is nerve wracking having to do this alone. Any advice is greatly appreciated! + +My next dollar neighbor is always talking about all the money she is making in the stock market due to her genius financial planner. My neighbor says that he is an investment genius and gave her a portfolio based on her age that is 80% stocks and 20% bond funds. My neighbor is about 50 years old. + +While I don't know the exact portfolio I do know it involves about 20 different stock and bond mutual funds and ETFs. The fee for the advisor is about 1.5% of her portfolio value per year. This does not include the fees of the actual investments. + +Do you think all those investments would beat a standard Target Date Fund for someone her age? +Been considering getting a new car, but I'm stuck between getting a new car for around $21000 on a 66 month loan with 0% APR, and a used car for around $17000 on a 48 month loan with ~4% APR (a middle ground for current used car loan interest rate averages for people with good credit). + +I know the recommended car loan term is 48 months or less, but I always understood the reasoning for that as paying less in interest over the total loan term. If interest isn't a factor with the new car on the longer term, what are the other cons that I'm failing to consider? With so much economic uncertainty right now, what is the more financially sensible choice? + +Thanks in advance. +Im 19 years old with 10k in savings making roughly about 45k a year, i come from a lower income family that does not know how to deal with money (living paycheck to paycheck, living on more of what they make, no investments whatsoever... etc) and i want to be smarter about my money but have no idea where to start. Should i invest my extra cash in a stock portfolio? put money towards CDs? i live below my means and quite frugal to save as much as possible. + +Thanks for any advice in advance! :) +I buy things, a lot. Not like a normal person whom would buy clothes, shoes, and other stuff along those line. I spend a lot of money on game. I buy Keys, in game credits, spend lots of money in apps to the point where the amount of money I waste on this stuff over the year is well over $1000. + + +It's not only starting to take a tole on me and our bank account, but it's affecting my Husband to, whom is the one making most of the money for our family. + + +If you have any advice on how I can stop spending recklessly, and start saving money, please, I could use any help possible. I don't want to be like this anymore. +Hey everyone! + +I found out I’m having a baby last month and we are very excited! + +I have a non family friendly car. I just bought it last year and still owe around 20,000 on it. I’m looking into SUVs but I don’t want to make the wrong decision if it’s going to end up costing me more money. + +The value of my car is 16,000 on Kelly Blue Book. Should I just keep the car and pay it off? Or trade it in for something used that will be cheaper? Any advice is appreciated! This came as a surprise so I’m trying my best to be smart about it and not hurt my credit/wallet. +Hello, I recently used earnin thinking it would be easy to catch up but found myself 900 dollars behind on my car and get 500 taken out of my pay check. I get paid about 1,100 bi-weekly. I have started door dashing so I can bite the bullet and not cash out on earnin and take the hit on this weeks paycheck. But my fear is in my car. I have never been behind on my car and I am afraid of it getting taken. My monthly payment is 390 on my car and im 63 days past due. Any advise??? Thank you +Hi all, I’ll keep this as brief as I can. I’ll be turning 30 this year and have never set up any retirement accounts through any of my employments. I’ve been trying to research the best way to get “caught up” but I’m concerned because I don’t make very much (35k) and have children to support. What would be the safest plan of action to go here? + +My employer offers a 403b but they do not match. I’m coming to the realization that I need to find a better job and get paid closer to what I’m worth. I have a Masters degree and recently changed careers so I’m still on step 1 it feels like. + +Any advice from someone who knows more about this stuff than I do would be greatly appreciated! +So I unfortunately didn't grow up in a household that taught me budgeting and how to handle money very well and recently have realized I know next to nothing about how to budget. So what are your best budgeting tips for the complete beginner/ what do I need to know in order to budget properly? + +To explain my situation better I am 21 years old making about 1300 a month working part time. I live at home but will be moving out in the next year and am searching for a full time job (which hasn't been going to well unfortunately). +If you are calm and comfortable or even excited about this wild price action GOOD JOB. You have not invested too much money you have listened to the advice that is repeated ad nauseum in all crypto subreddits which is "Only invest what you can afford to lose". + +If you are panicking, if you are sick to your stomach, if you are losing sleep at night or feel cheated or scammed I have this to say: + +1) Don't worry this happens all of the time if you sit tight and you are patient everything will be OK sooner than you can imagine. + +2) You have TOO MUCH invested. When things calm down reduce your position substantially because this WILL happen again. It always does. Crypto has been around for 9 years now and this happens several times per year. Remember how you feel right now even when we return to a bull market. When everything is green and going great remember this feeling and let it be the voice of reason in your decision making. + +Mr. Bitcoin's wild ride never ends :) +I've seen a string of posts today regarding the same crypto-currency news - Please list this news in /r/cryptocurrency as it is not explicitly related to Bitcoin. Thank you. +Pizza24 is an online pizza delivery service. Local pizzerias can join up and Pizza24 handles orders and payment processing. They currently have over 300 restaurants across Sweden, with more joining up. + +A few weeks ago, I emailed them and asked if they would consider accepting Bitcoin. Today I got this response (loosely translated from Swedish): + +>Hi <throwaway2346237's real name>! + +>Starting today, we will accept payments in Bitcoin. So now you can order your pizza and pay with Bitcoin. + +Here's their site, notice the Bitcoin icon next to Visa, AmEx, and PayPal: +http://pizza24.se/ + + +**EDIT**: Update: Tried ordering a large pizza, did not work. The site registered my payment, but still claimed that the payment failed. The support phone is closed, but I've emailed them and will be calling them in the morning. + +I guess they are having teething problems, and I advise everyone to not order until they are sorted. + +**EDIT2**: I contacted customer service and got a full refund. They claim the bug is now fixed. I'm trying again the next time I feel like pizza. + +**EDIT3**: Tried again today (two days later) and it went well! Delicious pizza, delivered to my door on time. They wait for two confirmations, which seems a bit excessive. All in all, a satisfying experience. +Almost everywhere people would tell you that the best investing method would be to buy an index etf (lets say SPY, Vanguard stuff etc) and continue to do so each x time (lets say a month) regardless of the price, and you will win in the long term. + +I feel like this is both dangerous (and really boring but that may be just me) and may not be so true (Japan?). + +If it was so true we wouldn't need this forum or any other investing forum / company, lets just close it up write a giant thread saying "Welcome to investing go buy SPY have a good day" and thats it. + +Does someone else feel the same way? that just blindy buying index ETFs shall not be the most obvious(/best?) way to invest? + + +Google parent Alphabet ([GOOG](https://finance.yahoo.com/quote/GOOG?p=GOOG&.tsrc=fin-srch), [GOOGL](https://finance.yahoo.com/quote/GOOGL?p=GOOGL&.tsrc=fin-srch)) [reported its third-quarter earnings](https://abc.xyz/investor/static/pdf/2022Q3_alphabet_earnings_release.pdf?cache=4156e7f) on Tuesday, falling short of analysts' expectations on the top and bottom line, as YouTube advertising revenue came up $400 million dollars short of estimates. + +These are the most important numbers from the report compared to what Wall Street was expecting of the company, as compiled by Bloomberg. + +**Revenue ex-TAC:** $57.27 versus $58.2 billion expected. + +**Earnings per share:** $1.06 versus $1.25 expected. + +Stocks down by -4.86% after announcement October 25, 2022. + +PS: In a separate earning annoucement Microsoft also missed earning down -5.39% after closing. + +This sends Amazon which has not annoucement earning yet. Stock was down by -3.61% +Source: Trust me bro. I’m just deep in thought and it dawned on me… + +Remember when Elon said Tesla would accept Bitcoin and then backpedaled and said they weren’t? That was lame. I think it pumped the shit out of Bitcoin for a week tho. Anyway… + +In the case of GME and Loopring… + +Hypothetically… If you wanted your investors to buy more stock and say… I dunno… lock the float… you know that many of them would need more capital, as many X and XX holders are likely tapped out. + +If you were to slowly drop hints about the alt coin that is going to literally fucking skyrocket based on the tech alone, which you also happen to be partnering with… + +the next chess move might be to accept that coin as a form of payment at your massively popular company… + +the news gets random investors and gamers alike to buy LRC because tomorrow your investment of $4 is $40 and you can buy a whole video game in 6 months for next to nothing… + +This would give the Loopring token another utility to flex. + +Upon such an announcement, anyone who knows anything about deflationary coins would buy as many Loops as they possibly could. + +Then a bunch of low level apes sell off at the peak and load up on GME shares and DRS them shits. + +I know this is all in my head and I’m just day dreaming… but this is all very possible. So I’m gonna continue to ponder the possible timelines we could end up in. + +Good day me fellow simians. +Hi all, as a someone in their mid-20s who has never been a working professional during a recession I’m struggling to know how to prepare. I have decent amount of money saved (6-8 months of living plus some additional money I’m trying not to touch). Alongside of having pretty good job security (not completely recession proof but our company grew during COVID by 54% without changing much). + +What I’d be curious to know is how people weathered precious recessions? What did you do that paid off? What was a waste? What did you learn that you’re taking into what is most likely a 2023/2024 recession? +All, I bought GME, AMC, BB, and NOK with the rest of the WSB family to fuck the system and the system fucked us. It’s obvious for all to see. Frozen trading where the only option is to SELL? FUCK YOU. I hope that the class action lawsuit is so nasty that multiple hedge funds declare bankruptcy and personal assets are seized — because, to be clear, the effort by shorting GME 140% of the shares was to put 50,000 people out of work in the middle of a pandemic by shutting the business. It feels personal. It should fucking hurt, really hurt, the perpetrators. + +“Retail investor” is such a demeaning phrase — as opposed to “Inside trader?” Suck a fat 🍆. + +Look, I’m writing this in Bitcoin chat not because BTC is incredibly equal amongst its owners (it clearly isn’t), but it Absolutely is an alternative. + +I went into this year bullish for equities and I still am; however, when free markets force liquid losses from the common man — when asset bubbles have made the already wealthy obscenely filthy rich — and then they bitch about the rules of their own game? I’m fucking out. + +I’ll keep my stocks and inflate them with my already inflated dollars and then happily increase my Dollar Cost Average rate of investment into BTC. + +Because equities aren’t equal, though they should be. + +Free markets aren’t free, though they should be. + +At least crypto, while it might not be free or equal — is fucking MINE. Finally, ownership over an asset that we apparently can have control over. + +Damn, I’m angry. Fucking livid. And that’s why I’m digging into BTC harder than I ever have. + +The system needs a good fucking. Shall we? +Inflation in Turkey is through the roof, that the ATM operators are now replacing the 00 key with 000 key so that people can withdraw enough currency notes for their regular expenses. + +[000 key installed.](https://preview.redd.it/2fvnz62qjgv71.jpg?width=1080&format=pjpg&auto=webp&s=ac669540b8330ce1aa5db2fb212626783fc2ef37) + +The Turkish currency Lira continues to plummet in value, it has lost almost 30% of its value in 2021 alone, and 80% of its value since 2012. In simpler terms, for someone holding Lira since 2012, their money has lost almost 80% of its purchasing power. Such a scenario is unthinkable for most people in advanced industrial economies. + +[Dollar vs Lira charts](https://preview.redd.it/ui4b3d1sjgv71.png?width=2650&format=png&auto=webp&s=c1859da8888470d5a9a2b81272708b6546f1d596) + +As per the latest central bank policy documents, inflation in Turkey is around 20%, while interest rates are around 18%. Turkey's debt ratings all remain in junk grade. + +This is what flawed central bankers and terrible economic policy can do to your savings - all your money saved up in bonds and deposits can lose a huge % of value over time. + +Despite their failing currency, the Turkish central bank have ban crypto payments earlier in the year, terming the risks from crypto as "too big". Specifically, they blamed risk of “non-recoverable" losses arising out of the usage of crypto, and banned companies from offering crypto transactions. + +If anyone is facing non-recoverable losses, it is the people who have held on to their Lira. +Twitter stock hit a new low on Friday, as investors beat down shares of the social media company below the $20 level for the first time ever. +Friday's stock decline gives Twitter a market cap of roughly $13.6 billion, below the $14.2 billion valuation that the company commanded when it went public in November 2013 and a far cry from its roughly $40 billion market cap attained in the months after its IPO. +"Whether you're a $10 billion, $20 billion, or $30 billion company, you're still a pretty rarefied company," said Wieser. +[Lesson 1.1 - Reading and Interpreting Price Action](https://youtu.be/jnFP47x5Sbw) + +Hey Everyone, + +I've been making a consistent income from Daytrading for a few years now (on top of my day job), but the journey to get here was a tough one! I feel like one of the hardest parts was that 98% of the content out there is either fluff or straight up garbage (or locked behind a hefty paywall). So, I decided to create my own videos to give people the content that I wanted when I was still struggling. I hope everyone finds this helpful and I'd love to hear your feedback or suggestions for future videos! +How many contracts maximum are you able to take on a 30k account? + +What's your experience trading with this size? + +What is your largest gain and how many contracts do you usually take? + +This post is only for information, I am looking to fund my account but I would like to hear from other traders experience. +I don’t even make $25 an hour but she decided her team would give $25 for bridal gifts for another employee. + +What should I do? I really can’t afford it and she’s so old school boomer she makes more than me. +Am I selling? Nah, never. Am I buying? Yup, every month, what else am I going to do. Am I DRSing? Yes, because I'm tired of being tired. But, honestly dude, it's been a long fucking time and it's just tiring dude. Yeah, I know, blah, blah blah, holding is easy. I'd say it's not that it's "easy", more that there isn't a better opportunity in this corrupt market. Doesn't change the fact that it's been two fucking years. Holy shit, man. +Bought 1 Dec 150 call on MED a few weeks ago because I have been on the weight loss program and it has worked great but also they were having a hard time filling all the orders so I figured they would beat and they did. I intended to exercise and hold because I believe in the company but something unexpected has come up and I need the cash I had saved to exercise and a few more dollars for something else. + +My question is, if you're up long on a stock option you would like to hold long is it better to just sell the option and buy the shares you can afford or should I exercise and sell what I need to sell to meet the cash need I find myself in? Keep in mind the stock is thinly traded and the options even more so which didn't bother me when I bought because I always intended to hold the shares. + +Grateful for any advice and thanks in advance. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +As good red blooded American capitalists, we like to believe that if a business is successful, it's because it has innovated and done a better job than the competition? + +But how true is that? + +Let's start with some examples, shall we? + +- It seems as though the entire finance industry was making a killing the past 5 years by selling subprime mortgages and saying they were prime. + +- The mortgage lending industry profited by selling mortgages to people who couldn't afford them, because they used the power of government to have Fannie/Freddie buy the mortgages, so the banks didn't care if people actually paid it back...risk free money. + +- There's a multi billion dollar education industry in America that induces kids to take out student loans on the promise it will lead to a lucrative career, when many wind up waiting tables. + +- The entire 401k/investment industry runs on hidden fees that people would never pay if they knew or understood. E.g., there is no reason on the face of the earth for a person to ever pay a sales load on a mutual fund, yet the industry is fueled by them. + +- Manufacturers/retailers increase their margins by having goods made in 3rd world countries that are flimsy and even dangerous. + +- Every industry on the face of the earth plays "gotcha" games. For example, I recently signed up for a free trial with Intuit Websites. I wanted to cancel before I was billed, and was told I had to call to cancel, and then had to wait 30 minutes before I got a hold of someone. Hey, that's one way of reducing cancellations! + +- The entire credit card industry is based on hidden fees. + +- The entire insurance industry is based on confusing the hell out of you and wiggling out of as many payments as possible you thought they had agreed to pay. + +Historically it was even worse. The Kennedy's were criminals, the Whitney's in New York got rich with their subway monopoly, and on and on... + +I'm beginning to wonder if bullshit is part and parcel to successful enterprise. I'm not talking about anything patently illegal, but just bending the truth and playing games to create profit. Playing in the grey area, if you will. + +If I didn't know better, I'd think it's impossible to turn a profit being completely transparent. + +Thoughts? +Money's key function is means of exchange (beats bartering). Most money is created by the financial system. When it creates a loan, 'new' money is created. (A new entry is created in the asset ledger of the financial institution, which is the loan that you need to repay. A similar entry is created on the liability side. This is the money, drawn against the financial institution, that you are enabled to spend. Because of fractional-reserve banking, this is 'new' money, it doesn't come from the financial institution's existing money holdings e.g. deposits.) OK. Now run that process in reverse. In other words, the balance sheet of the financial institution shrinks, i.e. there is net loan repayment, whether because people are trying to reduce their debts or because the financial institution itself needs for prudential or regulatory reasons to increase its capital/asset ratio. Money is destroyed. + +All else being equal, this would be deflationary. Why hasn't it been? Many people are tempted to look at the foundational component of money in the economy, which is 'base money', 'central bank money', 'high-powered money', m0, they're all synonyms. This is the money created by the Fed. And **yes** the Fed has created legions of this money in the wake of the aforementioned financial institution balance sheet shrinkage a.k.a. de-leveraging. But this has not been effective (at least so far -- that expansion of m0 is a huge source of worry for some). There is no appetite to 'pyramid' new money (loans) on top of this base money, resulting in this money just accumulating in the banks' own balances. To see this, it is imperative to look at measures of money supply which include such bank-created money. + +So why no deflation? The reason is that government EDIT: *over*spending has created new money. The financial system writes it the loans and thus the new spending power, which is injected into the economy. *Fiscal deficits have propped up the price level.* Which brings me to the "sobering thoughts". If this process is now likely to go into reverse or at least to abate, it is hard to believe that the price level will not fall. (This is an ideologically gleeful outcome for some redditors, but do not be fooled. Deflation in the presence of nominally contracted debt is a nightmare scenario. And no person of the pro-deflation school has yet bothered to explain away that particular dilemma.) + +Quick addendum: This is not a post about 'fractional reserve banking'. And it is not meant to be particularly normative in any respect. Just a chance to discuss the outlook for the price level. +This is my thought process: + +One of the Federal Reserve's stated goals is to "control inflation". The way it currently does this is by conducting open market operations in the debt market which affects the short term market rate of interest, and this interest rate regulates the extent to which businesses invest in projects. If the Fed wants the market to cut back on investments, it will increase interest rates by printing less money. If the Fed wants the market to engage in more investment, it will decrease interest rates by printing more money. These actions supposedly affect the overall rate of business spending, and hence the rate of increase in prices. + +However since the Fed targets the rate of increase in consumer prices, wouldn't it make more sense to simply issue everyone periodic checks that are not loan based, but simply checks drawn on itself, which will have the effect of increasing the quantity of money and hence volume of spending in the economy, and thus raise consumer prices that way in a more direct sense? + +If the Fed wants to make consumer prices rise by 2 to 3% each year, and it expects that people are going to cut back on consumer spending in the coming months or years, then it would simply issue checks for larger amounts. If the Fed expects that people are going to soon splurge on consumer spending in the coming months, then it would simply issue checks for smaller amounts, or none at all. + +If the Fed were really concerned with controlling inflation, is this not the quickest and simplest method for controlling the rate of increase in prices? Why does the Fed have to go the long, time delayed route of buying securities from primary dealers, thus increasing total bank reserves, which then provide a basis for the banks in making more loans, which lowers interest rates, which stimulate business expenditures, which then translates into higher incomes, which then goes into higher demand for consumer goods, which then, finally, raises consumer prices, all the while messing up business calculations and creating bubbles? + +Does this little mental experiment not show inflation supporters that the Fed really isn't concerned with inflation so much as ensuring that the banks make a profit from it in the meantime? Won't giving checks to people have exactly zero net effect on the economy, which proves that the economy does not in fact "need" a gradually increasing monetary demand with which to grow? +It seems to me that the main issue here is a battle between the people and the state. + +In Germany, we have the government who are obviously hell-bent on bailing out Greece in tandem with the ECB and the IMF. The people of Germany, however, are [strongly against](http://www.bild.de/BILD/news/bild-english/world-news/2010/04/27/multi-billion-euro-aid-to-greece/german-anger-at-paying-luxury-greek-pensions.html#) what they see as rewarding profligacy. Merkel has to give the appearance of wanting to hold back the bailout money (demanding severe austerity programmes a la IMF), but ultimately has to make it so in order to preserve the European project. Time will tell whether or not she pays for it in the upcoming elections. + +In Greece, we have the government hell-bent on receiving aid for austerity measures, when the people have been in an almost constant protest against them. + +In both countries the government is fighting the will of the people because it thinks it knows better. Interesting times ahead. +[**Direct Link to Article**](http://ww2.ipc-undp.org/publications/srp/TOWARDS%20A%20RECONSTRUCTION%20OF%20MACROECONOMICS.pdf) (and [backup link](http://www-cfap.jbs.cam.ac.uk/publications/downloads/wp16.pdf)). + +This week's article was [nominated by /u/Petrocrat](http://www.reddit.com/r/Economics/comments/28vaxt/article_of_the_week_nominations_thread_for_july/ciivfuf). + +**Abstract:** + +> This paper aims to rehabilitate “stock flow consistent” (SFC) macroeconomics as a radical alternative to the neo-classical approach which has dominated the subject during the last thirty years. Commercial banks are reckoned to play a central role in the macroeconomic process because they co-ordinate all the disparate aspirations, expectations and actions of the different sectors and this is one of many ways in which the model deployed here differs, not only from mainstream models, but also from “old fashioned” Keynesian models which have largely become extinct. A comprehensive system of stock and flow accounts, using four sectors and seven financial assets, will be deployed, followed by a narrative description of a theoretical model which can be numerically solved to yield sequences evolving in real time towards steady states. Details of the model’s equations are not disclosed but the paper clearly indicates an alternative methodology, while the simulations lend plausibility to some distinctive conclusions. + +We hope you like this "article of the week" feature. If you have any suggestions to this or other subreddit features or policies, please [let us know](http://www.reddit.com/message/compose?to=%2Fr%2FEconomics)! + +If you'd like to nominate an article for AotW, please [post here](http://www.reddit.com/r/Economics/comments/2ehxba/article_of_the_week_nominations_thread_for/) - be sure to include a blurb on why the article is worth reading, and enough information that we can find an ungated link. + + +Money's key function is means of exchange (beats bartering). Most money is created by the financial system. When it creates a loan, 'new' money is created. (A new entry is created in the asset ledger of the financial institution, which is the loan that you need to repay. A similar entry is created on the liability side. This is the money, drawn against the financial institution, that you are enabled to spend. Because of fractional-reserve banking, this is 'new' money, it doesn't come from the financial institution's existing money holdings e.g. deposits.) OK. Now run that process in reverse. In other words, the balance sheet of the financial institution shrinks, i.e. there is net loan repayment, whether because people are trying to reduce their debts or because the financial institution itself needs for prudential or regulatory reasons to increase its capital/asset ratio. Money is destroyed. + +All else being equal, this would be deflationary. Why hasn't it been? Many people are tempted to look at the foundational component of money in the economy, which is 'base money', 'central bank money', 'high-powered money', m0, they're all synonyms. This is the money created by the Fed. And **yes** the Fed has created legions of this money in the wake of the aforementioned financial institution balance sheet shrinkage a.k.a. de-leveraging. But this has not been effective (at least so far -- that expansion of m0 is a huge source of worry for some). There is no appetite to 'pyramid' new money (loans) on top of this base money, resulting in this money just accumulating in the banks' own balances. To see this, it is imperative to look at measures of money supply which include such bank-created money. + +So why no deflation? The reason is that government EDIT: *over*spending has created new money. The financial system writes it the loans and thus the new spending power, which is injected into the economy. *Fiscal deficits have propped up the price level.* Which brings me to the "sobering thoughts". If this process is now likely to go into reverse or at least to abate, it is hard to believe that the price level will not fall. (This is an ideologically gleeful outcome for some redditors, but do not be fooled. Deflation in the presence of nominally contracted debt is a nightmare scenario. And no person of the pro-deflation school has yet bothered to explain away that particular dilemma.) + +Quick addendum: This is not a post about 'fractional reserve banking'. And it is not meant to be particularly normative in any respect. Just a chance to discuss the outlook for the price level. +After a beautiful, almost poetic defense of free trade and entrepreneurial spirit in his essay "Of Commerce", Hume drops this paragraph. I'm so glad I took a History of Economic Thought course in my 4th year, learning about the founders of the field is very inspiring. +>A too great disproportion among the citizens weakens any state. Every person, if possible, ought to enjoy the fruits of his labour, in a full possession of all the necessaries, and many of the conveniencies of life. No one can doubt, but such an equality is most suitable to human nature, and diminishes much less from the happiness of the rich than it adds to that of the poor. It also augments the power of the state, and makes any extraordinary taxes or impositions be paid with more chearfulness. Where the riches are engrossed by a few, these must contribute very largely to the supplying of the public necessities. But when the riches are dispersed among multitudes, the burthen feels light on every shoulder, and the taxes make not a very sensible difference on any one's way of living. Add to this, that, where the riches are in few hands, these must enjoy all the power, and will readily conspire to lay the whole burthen on the poor, and oppress them still farther, to the discouragement of all industry. +I bought GE HTZ and SPG before market close on Thursday and closed these trades on Friday! I have been trading for only last three months. + +Trade fills for SPG and GE[https://imgur.com/YRiHciL](https://imgur.com/YRiHciL) + +Trade fill for HTZ[https://imgur.com/XVLwmdn](https://imgur.com/XVLwmdn) + +Trade close for HTZ SPG & GE[https://imgur.com/iQLDroJ](https://imgur.com/iQLDroJ) + +The Ford position bought (0.42 per contract) is still in ITM 6k [https://imgur.com/B6JutWx](https://imgur.com/B6JutWx) + +I am still learning so feel free to hit me up for any tips or anything I have done wrong way or any questions! I have learned a lot from everyone here lol Thank y'all! + +EDIT: For people asking me why I chose HTZ and SPC calls is because HTZ had been given bankruptcy protection which means they have been given more time to deal with the lenders and creditors. While they have been given this time anything could happen ie. someone could buy them out or maybe restrictions were lifted. Along with the market moving up and up HTZ resisting 0.80 mark and decided that it will not go down most likely. On top on Friday market moved up 1000 pts which basically dragged every stock on the exchange up making me close my trade in green. Whereas, SPG calls I bought because they were trading at lowest and then Trump announced that cities will be partially opened including malls will be opened soon. If you know about SPG they are the largest shopping mall operator in the US and own majority of the mall buildings around the country. Lockdown being lifted means malls and places opening which led me to the assumption that they will be back in the business sooner or later which turned out true for me. Again I could be wrong according to you, but thats my 2 cents. + +For people asking how I learned the basics. I suggest deffo read "Understanding Options by Michael Sincere". It's probably one of the best $23 you would ever spend. +Although I’m under 25 and get a good interest rate I’m not intending on staying with them. I’m happy to sacrifice the additional interest for a bank with a proper functioning app. I cannot fathom how shit and outdated their app is. + +Personally I’m debating between Xinja and 86400. I only use my CBA as my transaction account so UP bank is out of the question. + +Very interest to hear everyone’s thoughts on what banks their going to and why. + +I’m also in SA and we don’t have any BOQ branches so that’s another reason why I’m leaving. +Any thoughts on the above? RBA seems to think that wage growth will start to increase again in the next 2-3 years - also "cautious" on housing. + +https://www.businessinsider.com.au/rba-interest-rate-decision-august-2018-8 +&#x200B; + +[SPY looking like it wants to tank](https://preview.redd.it/4pkzpsvoek481.png?width=354&format=png&auto=webp&s=2c565826992da90d4b6d8be8e89fd9723094f41e) + +Crypto is taking a big shit today. Bitcoin is officially on a downtrend. + +Stock market stalled out today. + +Shitty news all over all business headlines. They are instilling the fear. People sell when they are afraid. + + +Thinking people are going to be pulling their cash out again and holding over the weekend. + + +People are just taking those licks in the digital asset space. Can't imagine them being very eager to put their money back into the market so quickly. +This saga from my prospective have become nearly impossible to explain reasonably to those around me. + + +2 years ago we all thought this was cut and dry. + +GME was shorted and apes bought the stock. + +GME was halted and SHF’s were the ones that pulled the strings behind the curtain. + +Shorts never closed. + + +Plain and simple right? + +Like 1 singular string coming from a ball of yarn. + +#NOPE + +Folks we pissed and kept pulling the string on the ball of yarn. + +Come to find out this ball of yarn has 100 other individual strings INTERWOVEN to each other. + +You can’t explain one string without being forced into a tangent on another because the original string wouldn’t make sense with out it. + +Now do that with all the other 100 strings and you begin to realize the person your talking to thinks your insane. + +And only you know the full story and understand it. + +You’ve learned everything there is to know bout the fraud in the market and when you try to ELI5 you can’t wrap your own head around it. + + +You tried to get people to listen early on while it was easy to explain but now we are way past the point of a sane straightforward explanation. + +Movies keep getting thrown around but no movie will ever be able to do this fiasco justice. + + +Movie territory has come and gone. We are in late multi season documentaries and early book territory. + +Luckily we have a literal library of DD in chronological order of discovery that will probably be used as sources for future books on this saga. + + + +You’ve been harassed, called crazy, and insane. + + +It’s too late to start at the beginning and try and catch up to the new information. + +If they don’t know jack shit but you’ve been trying to tell them what’s going to happen and they come to you and ask you to explain everything moass is gonna happen before you get through the first half. + +People with better explanation skills might be able to do it but if you “TLDR” this your gonna need a tldr for the original tldr. + + + + +End rant. + +Buy hodl drs + +NFA +Humor is a great way to live out your retirement days (that we're working hard to reach). Here are some of my [favorite retirement quotes](https://wealthyretirement.com/retirement-planning/50-retirement-quotes-inspirational-funny/)... + +“Retirement: That’s when you return from work one day and say, 'Hi, honey, I’m home – forever.'" – Gene Perret + +“I enjoy waking up and not having to go to work. So, I do it three or four times a day.” - Gene Perret + +“My parents didn’t want to move to Florida, but they turned sixty and that’s the law.” – Jerry Seinfeld + +“When a man retires and time is no longer a matter of urgent importance, his colleagues generally present him with a watch.” – R.C. Sheriff + +I hope a few of these quotes put a smile on your face and spark some interesting thoughts. +Long story short. I transferred KNC to Coinbase from binance. Wasn’t showing up. Turns out knc upgraded their network. Coinbase is on the old one. There’s no disclaimer when creating an address. They put the disclaimer in the help section. Has anyone gone through something like this and gotten their money back? + +I’m honestly in shock. Idk what to do. Coinbase support is silent. + +UPDATE: They finally got back to me.....Now they're saying the address I gave them is not associated with my Coinbase account. This is an address they gave me to deposit into...It possible for them to give me an address that could work for a different token or are all addresses unique... Is this something to get a lawyer involved now? I can't lose this money. + +UPDATE 2: They are getting a specialist on it now after reviewing my request. Pray for me 😭😭😭 +Alright, retards. Tomorrow, [Robinhood will continue trying to fuck us like our wives boyfriends fuck our wives.](https://www.cnbc.com/2021/01/31/robinhood-to-continue-trading-limits-on-monday-customers-can-still-only-buy-one-gamestop-share.html) But how can we fuck them back? + +For those of us who haven't migrated to a more investor friendly platform, they are still allowing purchase of up to 5 options contracts. There's nothing stopping those of you who like this stock from buying itm contracts and exercising them as soon as you can. Turning a 1 share limit into a 501 share limit. + +I'll be 💎🖐️ til this wonderful stock hits 100k. + +Thank you and fuck Robinhood. 🦍🍌🦍🍌💎🖐️💎🍆 + +Edit: forgot to call someone a retard + +Edit 2: OR just set up an account with fidelity, which can be set up and ready to go instantly. Seriously, avoid robinhoopla if you can. This post is just giving you another option + +EDIT 3 AND MOST IMPORTANTLY: Anything other than GME is the wrong play. The fact that they're letting you purchase a bunch of other "limited" stocks but only ONE of gamestonk should be a big fat red screaming sign that GME is the winner here. 📈 +**TL;DR: Linked official OCCRP site below. From my review so far, what might be GME-relevant:** + +* **DOJ and Senate Finance Comm. currently investigating CS over tax evasion worth millions of dollars in offshore funds. This is in violation of a 2014 pledge they made to avoid offshoring more money to avoid criminal charges. And wtf, the 1.3 billion penalty Credit Suisse paid was FUCKING TAX DEDUCTIBLE.** +* **US accounts barely showing on this apparently. Also, the US apparently refused/hasn't signed on to the Common Reporting Standard (CRS). This is a global anti-tax evasion initiative. Good job America.** +* **Employee bonuses tied to how much "new net money" came in and ultra rich/ultra-secret accts exist that only a few CS managers know about**. +* **WTF Switzerland: a 1934 law threatens journalists with 3 years jail time in case they report a bank customer's info. With this leak drop, Swiss politicians and journos argue that law has been abused since that means we can't find these Swiss bank clients/crime fuckers until it's too late.** + +EDIT 4: Will keep newer updates at the bottom of this post! + +Many apes are posting this development in financial news. Shoutout to u/haveyouseenmyshoes and u/ren3666! + +&#x200B; + +You can find the original Suisse Secrets site here. Details will probably roll in over time: [https://www.occrp.org/en/suisse-secrets/](https://www.occrp.org/en/suisse-secrets/) + +&#x200B; + +https://preview.redd.it/4tnzv4n5b3j81.png?width=2610&format=png&auto=webp&s=da028fe4076310a2721287e3761b8cb8311b9180 + +&#x200B; + +https://preview.redd.it/e8sps6gbb3j81.png?width=2600&format=png&auto=webp&s=30b2fb16bc644d21dcffa3448d3ae197242a41d8 + +Here is their Twitter feed detailing this: [https://twitter.com/OCCRP/status/1495443450778554381](https://twitter.com/OCCRP/status/1495443450778554381) + +&#x200B; + +https://preview.redd.it/jgqg17u2b3j81.png?width=1166&format=png&auto=webp&s=500bc1ec0e70dce9e53429ea408d85ac14cf7677 + +The Guardian is reporting on this as well here: [https://www.theguardian.com/news/2022/feb/20/suisse-secrets-leak-financial-crime-public-interest](https://www.theguardian.com/news/2022/feb/20/suisse-secrets-leak-financial-crime-public-interest) + +&#x200B; + +https://preview.redd.it/b1uk7hhgb3j81.png?width=2602&format=png&auto=webp&s=7e3511148b49f75e2d2a6161cf3f1c263b9fde93 + +If I am at all able to, I will try to summarize any points that are relevant should I have time. (or if another ape can that would be BOSS) + +# Apes, obviously we are all individuals but definitely don't sleep on this! These journalists, just like those of the Pandora Papers and Panama Papers, are fucking apes through and through just like us. + +**There are threads to pull so definitely track this as it goes and don't let it disappear like no one barely registered a few days after Pandora dropped!** + +&#x200B; + +In case you don't believe me either, I recently put out this post: [https://www.reddit.com/r/Superstonk/comments/sudwy9/the\_irish\_goodbye\_pt\_1\_icavs\_or\_how\_a\_total/](https://www.reddit.com/r/Superstonk/comments/sudwy9/the_irish_goodbye_pt_1_icavs_or_how_a_total/) + +&#x200B; + +https://preview.redd.it/qp93t4f4c3j81.png?width=1816&format=png&auto=webp&s=44144c7f2994d4c5befed9d103673a3a92b0e27d + +**I was able to potentially track down at least ONE total return swap containing GME with Morgan Stanley as a counterparty hidden away in a company called Montlake and its fund document.** + +**AND I WAS ONLY ABLE TO FIND THIS LINK RANDOMLY WHILE LOOKING UP SHIT ON FIDINAM AND KIDMAN ASSET MANAGEMENT, WHO WERE NAMED IN THE PANDORA PAPERS.** + +&#x200B; + +https://preview.redd.it/wyf570rnc3j81.png?width=2104&format=png&auto=webp&s=5d9a608564a20576c842d988b15eb237844a58be + +**They are linked to Tiber Capital.** + +>According to the accusation of the Milanese prosecutors Paolo Filippini and Giovanni Polizzi, Bochicchio allegedly “collected through the companies Kidman Asset management and Tiber Capital a large amount of capital from its customers, conveying them in investments made also in countries with low taxation... + +Apparently this also exists but can't access the full link here if anyone can help ([https://www.law360.com/articles/1307878/uk-litigation-roundup-here-s-what-you-missed-in-london](https://www.law360.com/articles/1307878/uk-litigation-roundup-here-s-what-you-missed-in-london)): + +>*...Tiber* Capital LLP and others. Irish fund managers at Montlake filed a commercial fraud claim against *Kidman Asset* Management Ltd + +**And I literally ONLY FOUND MONTLAKE to eventually find they had that total return swap with GME in it by having a fucking hard on to seek out crime bullshit on Tiber.** + +&#x200B; + +https://preview.redd.it/wxdlerrkd3j81.png?width=1526&format=png&auto=webp&s=2dc7e4717eb47027ac05151f95539474fec6d23f + +**I did not find this document by looking for GME.** + +&#x200B; + +**I found this document by looking at OTHER CRIME SHIT, and it led me to GME.** + +&#x200B; + +# LIVE UPDATES: + +&#x200B; + +1. OCCRP got records from CS employees and German newspaper Süddeutsche Zeitung. Includes 18,000+ Credit Suisse accounts, the largest leak ever from a major Swiss bank. 160 reporters worked together. +2. Accounts were over $8 billion in assets, with OCCRP saying many shouldn't have been allowed to have CS accts. 12+ accounts at CS had 1 Billion in Swiss Francs EACH. + +&#x200B; + +https://preview.redd.it/fbr2jdlpj3j81.png?width=1161&format=png&auto=webp&s=23be5c8999d42c13b8572f7930b745e897949dec + +3. Criminals include: Yemeni spy chief who tortured, Azerbiajiani strongman's son, Venezuelan gvt. officials, Mafia launderer, German exec who bribed for Nigerian telecom contracts, Jordan's King Abdullah II (had $223 million acct while his country got billions in foreign aid). **CS also currently in court fighting accusations of helping Bulgarian cocaine smugglers.** + +4. Credit Suisse rejects allegations (obv), arguing "Many allegations are historic, ranging from the 1960s onwards, and were subject to reviews in the past decades in line with applicable processes and requirements at the relevant times" and says its risk management shit has been on point supposedly + +&#x200B; + +5. **Employee bonuses tied to how much "new net money" came in (this makes me think Archegos maybe)**. **Ultra secret accts exist that only a few managers know about**: + +>**"This has led to a culture, Credit Suisse employees say, where there are two sets of rules for two sets of clients: the rich and the ultra rich**. “Due diligence of customers and accounts –– say at a level of $1 million –– are very thorough,” said a former senior executive. “But when it comes to high net-worth accounts, bosses encourage everyone to look the other way and managers get intimidated about their bonuses and job security.” + +6. Plausible deniability built in, where despite strict rules employees were incentivized to avoid them. Great quote: **“The bank likes to say it’s just rogue bankers,” said Jeffrey Neiman, the American lawyer. “But how many rogue bankers do you need to have before you start having a rogue bank?”** + +7. Journalist called in saying they repped an African investor. **CS reps preffered to talk by phone vs. email (wow not weird at all!)** + +&#x200B; + +https://preview.redd.it/5bfe6kjkj3j81.png?width=961&format=png&auto=webp&s=080714b19d208449d079489090e7ddec6777d6a1 + +**8. A whistleblower told US officials in 2021 (!) that CS is still helping Americans hide millions offshore in violation of a 2014 pledge in order to settle criminal charges. DOJ and Senate Finance Committee are currently investigating them on this shit.Also WOW. the fucking 1.3 billion penalty they paid to the US was FUCKING TAX DEDUCTIBLE.** + +&#x200B; + +9. WTF. Just like Pandora Papers, little info on CS-linked accounts in the US. Same for few links to Russia, China, Brazil. + +10. Wow WTF again America: + +>"**Journalists observed that many clients that did appear in the data live in countries that did not sign on to use the Common Reporting Standard (CRS) — a global anti-tax evasion initiative that requires countries to automatically exchange basic banking information with tax authorities** — or only agreed to signed on in the last few years. +> +>**One outlier is the United States, which also has not signed on to the CRS and yet was not heavily represented in the leak**. However, the United States has agreed to numerous bilateral tax treaties, including one with Switzerland, which gives tax authorities mutual access to banking information of customers suspected of tax evasion and other financial crimes. + +&#x200B; + +https://preview.redd.it/gma59pu7l3j81.png?width=1833&format=png&auto=webp&s=e4faaf1d0846349c2a3febb306107feeeec7e044 + +**11. Damn they caught fuckers from the fucking VATICAN in this shit.** + +&#x200B; + +&#x200B; + +[love this twitter pic btw](https://preview.redd.it/65jwh59i74j81.png?width=900&format=png&auto=webp&s=22a6129ba589d27b5efd5a451e56b184cab9a738) + +12. **Interesting. Wikileaks has joined the chat.** Regardless whether you love them hate them or are agnostic, seems they caught wind of this released and promoting this link on Twatter to search their archives for more CS shit: [https://search.wikileaks.org/?q=%22credit+suisse%22](https://search.wikileaks.org/?q=%22credit+suisse%22) + +&#x200B; + +https://preview.redd.it/wfvwujj884j81.png?width=1884&format=png&auto=webp&s=0ac93c0cd44744833e1217b361aca5c546cb4a47 + +15. WTF Switzerland (wtf fondue gang, what's up with the country) so apparently right after this shit dropped, politicians & journos obv sound PISSED and want them to eliminate a standing law from way back in the day that keeps journos from reporting on Swiss Banks and threatens jail time!! Wtf: + +>The Social Democratic Party of Switzerland called on Sunday evening for the abolition of a law that prevents journalists from reporting on Swiss bank clients.... +> +>**Article 47 of the country’s 1934 Banking Act says that anyone who “discloses information about bank customers to other people” can be punished with up to three years in prison, even if they are exposing criminal behaviour or other wrongdoing of urgent public interest.** + +&#x200B; + +https://preview.redd.it/44p2xq3v84j81.png?width=494&format=png&auto=webp&s=9184bcf6553c5a4102e22d2fa8837f79fd40e8d6 + +Also starting to trend in morning papers in Belgium: + +&#x200B; + +https://preview.redd.it/v8b0k8h4q4j81.png?width=680&format=png&auto=webp&s=a1924ed517f60a0842fbb4f9277321fdcd81fe27 + +&#x200B; + +*SEO Dickwobble keywords*: Credit Suisse, Archegos, Fidinam, Kidman Asset Management, OCCRP, Pandora Papers, Superstonk, GME, DOJ, RICO, Switzerland, Tiber Capital, organized crime + +EDIT: Words, bolding, pictures + +**TL;DR: Linked official OCCRP site above. From my review so far, what might be GME-relevant:** + +* **DOJ and Senate Finance Comm. currently investigating CS over tax evasion worth millions of dollars in offshore funds. This is in violation of a 2014 pledge they made to avoid offshoring more money to avoid criminal charges. And wtf, the 1.3 billion penalty Credit Suisse paid was FUCKING TAX DEDUCTIBLE.** +* **US accounts barely showing on this apparently. Also, the US apparently refused/hasn't signed on to the Common Reporting Standard (CRS). This is a global anti-tax evasion initiative. Good job America.** +* **Employee bonuses tied to how much "new net money" came in and ultra rich/ultra-secret accts exist that only a few CS managers know about**. +* **WTF Switzerland: a 1934 law threatens journalists with 3 years jail time in case they report a bank customer's info. With this leak drop, Swiss politicians and journos argue that law has been abused since that means we can't find these Swiss bank clients/crime fuckers until it's too late.** + +&#x200B; +**🐺AAWOOOOOOOO! The great WOLF has arisen on MATIC to wreak havoc across the** **Nine** **Chains and challenge the Gods of Crypto!** + +[**MOONWOLF.IO**](https://moonwolf.io) **launched officially on 29th March on** [**quickswap.exchange**](https://quickswap.exchange/)**, in partnership with Polygon (Matic) and Quickswap.** + +**Moonwolf.io market cap is currently around $8M and they have $1M liquidity on Quickswap. The last two days have seen saw 175% growth in price, but there is still massive room to grow and you can buy millions of $WOLF with $$$.** + +📣 **WOLF AIRDROP HAPPENING MONDAY 12 APRIL 2021** 📣 +The more WOLF you own, the more you will get! + +**🐺WOLF** is the first **deflationary** **token** on the L2 Matic Network *(by far the most popular L2 contender)* with **1% burn** 🔥and **1% autostaking** 🤖redistribution to WOLF holders on every trade! The circulating supply is 495,000,000,000. It's the *FIRST EVER* deflationary token on the Polygon (Matic) network, at a **fraction of a cent gas fees!** + +**We invite you to ascend to the POLYGON MATIC network! It's shitcoin-free, transactions basically free ( < $0.0001!) 💰and as fast as lightning! ⚡️** + +**🏆NFTS:** Moonwolf.io are dedicated to becoming the NFT leader on Polygon network! Every month on the full moon, special limited edition NFTs will be created along with monthly NFT airdrops! We have already sold our WOLF NFT Genesis 1/1 on opensea on L1. and now planning to release the related RARE WOLF ERC-1155 100/100 directly on L2 this week. We are still airdropping a few RARE WOLF NFTs. We are moving towards a fully decentralized NFT collective fuelled by the WOLF Token. + +🤝**PARTNERSHIPS:** + +* Partnered with **Polygon**. [Moonwolf.io](https://Moonwolf.io) & Polygon held a joint AMA yesterday with the Moonwolf lead dev White Wolf +* Partnered with **Arkane** NFT Matic Marketplace +* Partnered with **Quickswap** to provide additional LP incentives + +**🐺COMMUNITY:** At the core of the project there is the WOLF community.  We have an active, friendly wolf pack that operates in a decentralised creative collective. Come join us on Telegram. We call ourselves WOFLers. **WOFL is the new HODL =)** + +💰**LIQUIDITY & GROWTH:** Moonwolf.io raised 100 ETH equivalent in Matic to fund the launch of the Token. The Token got listed on Quickswap on 29th March with a very low market cap. The past two days have seen > 170% growth! The overall liquidity is very high compared to MC. Which is one of our main priorities to not only grow in terms of MC but also liquidity. + +**⚡️POLYGON** is a layer-2 network designed to bring mass scalability to Ethereum and interoperability between other blockchains. Fuelled by the MATIC crypto, Polygon is evolving into a platform to help developers bring products to market quickly. This is achieved using customizable, modular blockchain network tools and services that harness the power of the Ethereum network, without the drawbacks associated with high transaction fees and network congestion. As such, layer-2 solutions are drawing a lot of attention as the crypto industry looks to expand and interoperate. **Polygon has seen more than 20 x marketcap growth since 2021-01-01** + +**Organization:** [moonwolf.io](https://moonwolf.io/) +**Symbol:** WOLF +**Contract address:** [https://explorer-mainnet.maticvigil.com/address/0x8f18dC399594b451EdA8c5da02d0563c0b2d0f16/transactions](https://explorer-mainnet.maticvigil.com/address/0x8f18dC399594b451EdA8c5da02d0563c0b2d0f16/transactions) +**Transfer fees:** < $0.0001! +**Website:** [https://moonwolf.io](https://moonwolf.io/) +**How to buy (use at least 2.5% slippage!):** [https://moonwolf.io/buy](https://moonwolf.io/buy) +**Quickswap:** [https://quickswap.exchange/#/swap?outputCurrency=0x8f18dc399594b451eda8c5da02d0563c0b2d0f16](https://quickswap.exchange/#/swap?outputCurrency=0x8f18dc399594b451eda8c5da02d0563c0b2d0f16) +**Coinmarketcap:** [https://coinmarketcap.com/currencies/moonwolf/](https://coinmarketcap.com/currencies/moonwolf/) +**Coingecko:** [https://www.coingecko.com/en/coins/moonwolf-io](https://www.coingecko.com/en/coins/moonwolf-io) +**Quickswap price chart:** [https://info.quickswap.exchange/token/0x8f18dc399594b451eda8c5da02d0563c0b2d0f16](https://info.quickswap.exchange/token/0x8f18dc399594b451eda8c5da02d0563c0b2d0f16) +**Telegram:** [https://t.me/moonwolf\_io](https://t.me/moonwolf_io) +**Twitter:** [https://twitter.com/moonwolf\_io](https://twitter.com/moonwolf_io) +**Subreddit:** [https://www.reddit.com/r/Moonwolf\_io/](https://www.reddit.com/r/Moonwolf_io/) +**TikTok:** [https://vm.tiktok.com/ZMePw5wSG/](https://vm.tiktok.com/ZMePw5wSG/) + +💵**Buying Notes:** + +* WOLF is relatively hard to buy if you aren't already on matic. Being hard to buy is not a bad thing, because you can get in before everyone else if you are willing to put in the effort. +**You need MATIC crypto on matic network to buy WOLF through quickswap.** +* You need a ramp onto the matic network. If you buy through Binance for instance you will need to pay ETH bridging fees. You can try bridging from eth to matic network using metamask and [https://wallet.matic.network/bridge/](https://wallet.matic.network/bridge/) or a cheaper option of eth DAI to matic DAI via [https://www.xpollinate.io/](https://www.xpollinate.io/) +* There are some good fiat options on the [https://moonwolf.io/buy](https://moonwolf.io/buy) page, including buying from quickswap, but they aren't all available in the US. +* The **cheapest** option is the [ascendex.com](https://ascendex.com/) / [bitmax.io](https://bitmax.io/) exchanges which are a direct onramp onto matic, but they have a *24 hour withdrawal waiting period for new accounts.* +* **US Buyers:** At this stage it looks like you have to use eth bridging or ascendex, as the fiat routes are not supported. + +**Moonwolf is just getting off the ground. There is still time to be an early adopter and howl on the moon!** +He wants to provide the option to some of the apartments he has available. He also wants to set his wife up to take it for her home made beauty products. +Just made my day and wanted to pass that karma onto others. +Does depreciation on real estate begin when I purchase it or from when I start renting it out? +edit: this is for residential real estate. started out living in it and then converted into a rental. +I am in the process to buy my first Real Estate Rental Investment Property in Savannah, GA through Roofstock and can't belive I am finally posting on Bigger Pockets. I was waiting to find the property that runs my number and potentially generating cash flow for me which I think I found it but again I am a newbie so was looking for some insight and guidance that can help me to ensure I am considering all the factors. Below , is the details of the property and numbers I am looking for. + +Property Type - Single Family House , 3 bed 1 bath (800 sq feet) Built in 1960 close to Savannah downtown. + +Sale Price - $62000 (Zillow estimate is $54k, but again based on appraisal I shall negotiate if it comes under the sale price  + +Neighborhood - Class C (According to Roofstock rating). The zipcode 31405 overall rating on niche.com is B-. + +Rental - $950/mo (currently rented) + +Down payment - 20% and Interest rate is %6, Excluding (P&amp;I, Taxes, Home Insurance, Vacancy Factor, Property Manager Fees, Reserve Repairs ) I see $180-$200 Cash Flow Income . + +Based on the inspection report there are some immediate repairs ($1200) , the seller is replacing HVAC and the roof is 10 years old . (Seller rehabbed the place and he bought in foreclosure . The seller company is HomeVestor which is essentially Real Estate Company. + + +I live in Atlanta , GA and I have some insight on Savannah Market but , again this is my first time experience and wanted to make sure I am not being just excited but also trying to be careful. Appreciate all the comments and feedback in advance! +I want to hear people's thoughts and why you subscribe to a certain belief when it comes to handling repairs. I have a sfh with a 25 year old furnace. It just went out and I could spend 1700 to repair it or 6k to replace it. This unit puts about $500 in my pocket every month but I also have a 21 year old water heater and galvanized pipes so I know these things are coming but I always go back and forth between doing a bandaid or just outright replacing the problem and would love your thoughts. Please dump wisdom on me real estates daddies. + + +Edit: thought I'd share since I just made the call. I'm replacing the water heater and furnace along with some exhaust chimney repairs for 9k on the dot. my tax situation is a little wonky and this rental is operating as sole proprietorship for this tax year so the costs will help me at tax time thankfully as my house holdincome usually leaves me with a tab from uncle sam. I ended up going full replacement because a year ago I got several estimates and the prices had nearly doubled on the water heater. Do any of you get routine quotes to hedge against crazy inflation? Some new regs (unsure if state or fed) are driving costs up so I bit the bullet. With the water heater having not failed per say will I have to take that on the back end as an improvement or since it's so far past it's service life can I treat it as a true repair and take the write off this year? + +I know I should speak to an accountant but like all good accountants mine is 75 years old and asleep by 8pm so Im sure he will email me promptly at 530 am Monday. +I was thinking that this is a cheaper way to make multiple investments with good returns. I was wondering what should I know before doing so? Hopefully some downsides etc. +I recently had a large life realization that I'm not doing enough to leverage my money. So I'm looking to either flip a house with sweat equity, or buy a foreclosure. I have a good credit score (ony 1 year of credit though), own a business and also work one day a week at a real estate office. I have 35000$ available for down payment/flipping expenses. I have a strong work ethic, and I learn quickly. Any advice or resources I should look into? Looking for a good list of books/people I can talk to. +Beginner to real estate investing. I'm active duty military and live in SoCal so the prices here are.. very high. My plan is to buy a condo/home, rent it out, have someone manage it, and then do it all again. I'm able to use the VA loan and put zero down as long as I intent to live in it, but with upcoming deployments, moves, etc.. Basically as long as a reason comes up as to why I can't live in the house and I have to rent it out/sell it, then I'm able to. I'm going to be in SoCal for about 3 more years and I'm hoping to buy a new home every year, so by the time I leave I'll have acquired 3 properties. I've got about $50k in cash so that's enough to cover repairs, taxes, the horrific HOA's in this area, and vacancies. + +A guy I work with is in the same boat as me and is currently 2 properties in and looking at his 3rd and has positive cashflow so I know it's all possible. The average 2bed/2bath condo that sells for $300-400k and rents for $1900-2200 are what I've been looking at. + +I know California is not the ideal place for this. High prices, not landlord friendly, HOA's are at least $300 with every place I've seen, but I wouldn't be able to use the VA loan out of state and I don't really have time time to travel to look at places nor the experience or confidence to buy properties without seeing them myself. + +All this to say, in my shoes would you invest in several SoCal properties with hopes to move to another state in the next 5 years and continue my investing there? +My husband and I purchased a 3500 sq ft house with 5 beds and 3 baths when the market was low for $160k. Homes in our subduction with the same layout and sf are selling for 299k. Husband and I owe 100k. + +We’re not selling now but we’re considering buying a new home. Our house has a small yard and we’d like more space. I spoke with him about selling Vs renting. We live in a desirable area and rental properties don’t stay on the market. An agent said we could rent it for $2200 at the lowest. + +I would like your feedback about renting Vs selling and how to build financial wealth. That is our goal. We can save for a downpayment for the next house if needed. I think it’ll be smarter to keep the house and rent it out. +i am a resident alien and due to my status in the US I cannot actively participate in managing a property. I am interested in buying 2-3 rentals, but they will all need to be overseen by a property manager, as by law i can only earn income passively outside of my employment. this means I cannot actively spearhead tenant screening, repairs etc. I live in the market where I am planning to buy, so I will be able to have a say, but overall i need to be hands off. + +I have been building a list of property managers I plan to contact and chat with. I am a new investor and would like to know what you look for in a good property manager. what questions should i ask, what should I be aware of, and what terms should I seek in my agreements with them? +Need some more experienced folks who have possible made this transition to weigh in if you could... + +Should I sell my single family portfolio to invest in more MFH/CRE? + +Quick rundown.... +Still work a W2 job and own ~40 houses that are have been fully rehabbed and rented and perform really well in terms of cash flow/ROI. I manage these via a VA/call center. + +I also own ~60 apartments (one medium sized complex and the other a smaller one). These have outsourced property management and have performed mediocre at best since owning them. The larger unit is a huge value add play, so that one should turnaround in the near future. + +The equity play is the biggest perceived value I have found as an advantage for multifamily. Also, if I self managed these, I know they would perform better, but these are management intensive. + +I hate to drink the Kool-Aid, but I’m thinking about some/all single-family portfolio to sell (1031 exchange) invest in more multifamily or other forms of commercial real estate. I know this is what all the gurus say, but I am skeptical because of my current experiences so far. + +Thoughts? +I have a 1 BR luxury condo, will be paid off in 7 years. Considering selling. + +A long-winded breakdown of some factors I've considered... + +Some reasons to keep: + +1. Mortgage will be paid off in 7 years. +2. Pretty easy to manage - it's a small unit with an on-site manager. +3. Rent is enough to cover expenses (for the most part). +4. Property value has appreciated 33% over the last 10 years. Not sure how good that is compared to comparable properties, but I know it's a good area and my property will sell quickly if I wanted to sell. +5. I have 2 assigned underground parking spots, a somewhat rare commodity in this area. + +Some reasons to sell: + +1. I can't keep a tenant longer than a year or 2. I've had 4 tenants over the years. All good tenants, except all have been young couples who eventually relocated or wanted a house. +2. Condo HOA is high: Maybe 3-5% annual increase, which isn't bad, but I pay these monthly, which is about 30% of the rental income. HOA is high because it's a nicely maintained and pretty private/small condo complex. +3. Can be hard to find renters: I've never had any large gaps between tenants, but people are definitely not fighting for my rental. I usually have only one applicant every time it's available. There are cheaper 1-BR alternative rentals in the area (albeit a bit smaller and managed by apartment management companies). My unit charges higher rent/sqft, but it is kinda unique since it's a comparatively larger 1-BR. I need to find that perfect tenant who will stay there forever! +4. About an hour drive away. Not a big deal but it could be a hassle if I needed to take care of things. Over the years I haven't had to go there besides meeting new tenants and minor maintenance. I don't feel the need to hire property management at this time. + +I don't like finding new tenants every year or 2, but I also enjoy the fact that I only have 7 more years before it's paid off. In terms of generating profit, it can be great in the long run but I have to consider the costs (expensive HOA, maintenance costs as the unit ages). + +Any advice? Insight? +I had tenants who didn't pay rent during the last month of their lease. They said to just "keep the security deposit, since there's no damages that were our fault," (hahahaha) referencing their opinion on some damages that were caused earlier in the year due to their negligence. + + +In total they owe me $2000 rent + $350 for a plumber + $250 for a cleaning (the unit was dirty) + $100 for some basic maintenance + $X for removing the belongings they left behind (TBD). Their security deposit only had $1800 left in it, so the total debt owed is still $900 + X. + + +I have a pretty cut-and-dry small claims case for the debt owed. Through a benefit of my work, I am able to get assistance from a lawyer (minus them actually coming to court) for free. The lawyer is encouraging me to track them down and go. I found their new addresses simply by googling their names, so I know I can serve them. + + +Let's say I get a judgment for $900 + X. I'd probably have to pay a collector for this, or have wages garnished. Does anyone have experience for this? I feel like most collectors wouldn't care about an amount this small. I am in Massachusetts, if it helps. + +Any pointers welcome. The time to go to court and present my case is negligible for me. I'm just curious about my odds of getting any money here. +Ok, I'll keep this brief. + +Income: 47k + +No debts other than 20k student loan + +Own 1 property outright worth 160k currently up for rent hopefully finding a new renter soon. My question is should I purchase a place for myself (currently renting at $1050/month). Or should I purchase another investment property? I'm eligible to pull the equity in March. + +I'm 27 years old, if that makes any difference. I also live about 100 miles from the rental property (in my hometown). + +Not sure what to do. Any input helps! +Can granting a loan itself be considered an investment? Because at the end of the loan, you'd end up making alot more money that what you can flipping a house, and you wouldn't bleed money while you wait for appreciation or bad market/economy to pass. When people buy houses, they end up paying more than twice what the house is worth over the length of the loan, so it would seem like a more profitable path. +To preface - I am really a new investor. + +From my understanding, if you want to purchase off-market, oftentimes you are dealing with wholesalers or people who need cash now. + +&#x200B; + +Unfortunately, conventional and commercial loans are not an option, because of the processing times it takes to deliver the cash to wholesaler or owner who are looking for cash buyers/ + +&#x200B; + +Hard Money and then refinancing into a conventional loan seems to be the strategy to stay competitive with cash buyers. + +&#x200B; + +What is the standard operating procedure to make this successful? + +&#x200B; + +I would imagine that I would want to hold the hard money for as short as possible because of its higher rates. Then receive better financing terms on a commercial or conventional loan. + X-Post from Team JUST discord (they make popular decentralized applications) + +&nbsp; + +EDUCATIONAL: +Hey @everyone, we know gas prices are astoundingly high today. Let's have a bit of an adventure and find out why shall we? + + +Today, 40% of the ethereum's network is being used by this contract +https://etherscan.io/address/0x98b4ca8bd52e4ed1f28d3f30d9f567d1166c9483 +A beautiful and innovative copy-paste of a default ERC20 standard token called "IFishYunYu" with no features. (So it does nothing.) + +&nbsp; + +Yet miraculously, it seems tons of "unique" accounts are transferring massive volumes of this token constantly, almost 50 ETH of gas an hour have been steadily used for nearly 24 hours now. Just to transfer individual tokens to the Fcoin exchange. But of course. The exchange is just a red herring to distract you from what's really happening. + +&nbsp; + +Let's see what the creator of this contract has been up to recently. +https://etherscan.io/tx/0xd0e334dca734071f395cad64df90269113ead321232e5603f66fc6fb2885c654 +Looks like he minted nearly 5 Billion Ifish tokens about 12 days ago... +to this account +0x45f64a7148d1cfeded427dd4380b458877e7ce56 +which split it up across +10 or so accounts, that each do this +https://etherscan.io/token/0x98b4ca8bd52e4ed1f28d3f30d9f567d1166c9483?a=0xcd4777b5f4d8779e99ea996bb32988daf0bbbf3b +splitting it up across 500-600 accounts each. + +&nbsp; + +Which are, the mystery "unique" accounts that are spamming the eth network. So yeah, it's one guy, it's the creator of the token. He was doing it during the previous Fcoin exchange competition too. He's running a multi-sided scheme, he even has bots running "wash" accounts. Like +https://etherscan.io/address/0xa67ef2aca4c6459e60821c1b1afe45812c4c1bcd#tokentxns +which is pretty cool, it just shoves the token into other accounts, and then those accounts shove it into other accounts, and then back to the big main account to simulate volume on the token itself. Try following a transaction, you'll come right back to the big-daddy account. + +&nbsp; + + +most importantly on why is this being done? +Let's see what one of the accounts funding all this eth might be doing +https://etherscan.io/token/0x86fa049857e0209aa7d9e616f7eb3b3b78ecfdb0?a=0x7a717e226a8b37b912d0effbb0aab24ab690dbdb +gee, that sure is a lot of crowdfunded EOS, hundreds of thousands to be exact. From an account that seems to receive large sums of eos and immediately market sell them for thousands of ETH, which is then distributed out to contracts like this. Contracts that have been pulling this kind of transaction attack consistently across the ETH network. + + +[\(Lastly, they finished it with a fresh OC image of Vitalik in sunglasses that should exist if they don't already\)](https://imgur.com/a/CzfUMXh) + +Credit: [Team JUST discord] (Developers of P3D and Fomo3D, the two highest volume decentralized games on ETH right now, so gas is hitting the community hard) +I (36M) seem to get into things late. Music trends and especially life. I read Rich Dad Poor Dad in my late 20’s. At 28 I was made redundant and went back to University. I spent 6 years there graduating with a Master’s degree in Management. I am now 36, and am in debt for student loans of $35k, and about $10k in other debt (car, personal loan, HP’s etc) that I have been diligently working away at, but it will take approximately till the end of next year to be debt free (minus the student loan). It feels like I missed the boat entirely, wasting my 20’s and retiring at 65 seems like a pipe dream let alone FIRE. 😭 +Hi all. So my employer offers ESPP via paycheck deduction. From Jan 1 - June 30. I am limited to 15% of my paycheck. + +From what I can tell, there is no holding period. The section for “When can I sell?” Says “The plan does not impose a holding period for sale of shares but there is a hold period for transitioning to an independent broker of two years to track disqualified distributions”. + +Does this mean I could just contribute max, sell when the shares are issued on a June 30th, and withdraw the cash to my savings account? The shares are bought at a 15% discount. + +Am I missing something here? +I'm seeing a lot of posts from Redditors who have insider knowledge of the upcoming hyperinflation. + +**Some facts:** + +* Post-2008, the Fed balance sheet quadrupled from $1 to $4.5 trillion. To get the same magnitude that $4.5 trillion will have to increase to $18 trillion. We're currently close to $6 trillion. +* Post-2008 inflation peaked at 3.87% (Sep 2011). Not quite hyperinflation, but close! +* QE didn't end after 2011. Fed balance sheet increased from $2.8 to $4.5 trillion by 2014. +* Unemployment fell to a 50 year low to 3.6% (Apr 2019) +* The US-China trade war had a negligible effect on inflation. The US imposed 15% tariffs on about $112 billion of Chinese imports - that equates to over 2/3 of consumer goods imported from China. + +**But CPI doesn't account for REAL inflation!!!** + +Inflation is a specific term. Inflation is a sustained increase in the general price level of goods/services in an economy over time. Inflation means your USD purchasing power is reduced. Note: this has nothing to do with asset price increasing. + +**But this time is different!!!** + +Redditors like to bring up 1920s Germany. A war-torn country struggling to repay its debts. Meanwhile US bond yields are almost negative and at a record low, worldwide investors see the US treasury as a safe haven and the USD remains the world reserve currency. + +**But Fed promised unlimited QE!!!** + +The Fed's main aims are to avoid deflation, maintain liquidity in the financial system and to maintain investor confidence. It really surprises me that despite the huge risk of deflation during a recession, Redditors are instead scared of the complete opposite! + +Why is deflation bad? 1) consumers avoid purchasing today to buy at a later date at a lower price 2) firms avoid investing today as the real cost of debt increases. Later when the economy is recovering and there is risk of higher inflation, the Fed will reduce their balance sheet. From 2017-2019, their balance sheet decreased from $4.5 to $3.7 trillion. +Currently I am 100% into VGS using Selfwealth which has the 9.50$ flat fee and my current plan was to buy everytime i saved up 10k which would be every 4-5 months since I figured doing it more often would have a chunk of fees adding up overtime the more i deposited but I was thinking of instead of 10k decreasing it down to 5k since the potential returns from buying the vgs shares quicker would possibly make up for the fees that would add up from depositing more often. What do you guys think? and how often do you guys buy? +Dear MtGox Customers, + +In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly. + +Best regards, + +MtGox Team + +Source: www.mtgox.com + +Edit: Printscreen: http://i.imgur.com/EqG4E84.png +https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/ + +You can argue which of these are automakers (Tesla?), and I don't want to start a discussion about this here again. But this is just crazy. What does it mean? EV bubble? Buy Volkswagen? Sell everything and keep off the market? + +Full disclosure, I have shares of BYD. + +EDIT: Ford owns 12% of Rivian. This means that almost 20% of Ford's current market capitalisation (80bn) is Rivian! At some point, in this crazy market, Rivian's share might be more valuable than Ford's own activities! + +EDIT 2: Cathie Wood's Ark Invest isn't buying into the Rivian hype due to its "rich" valuation, according to comments she reportedly made at a conference on Wednesday. +Yesterday I had 504 shares of NAKD at Avg cost of 0.59. Look at it this morning and I have 33 shares of NAKD at Avg cost of $9.04 and NAKD price sitting at $5.92 basically doubled my losses overnight. Not a huge loss by any means just looking for some insight. + Hi all, + +Here is a list of high IV stocks (data from June 4th): + +* US-listed stocks only +* Optionable stocks only +* Stock price >= $5 +* Market capitalisation >= $1 billion +* Current implied volatility >= 100% + +If you trade Cash-Secured Puts or use the Wheel, check-out the list below + +&#x200B; + +[high iv stocks - June 7, 2021](https://preview.redd.it/vq3dmcdc7t371.png?width=1699&format=png&auto=webp&s=f159556af810d12a2e6c75c58c8d0f58dcc5fcce) + +&#x200B; + +The full list can be found on this website: [link](https://theoptiongeeks.com/high-iv-stocks/) + +(no subscription, no ads - it's free) +Square [$SQ](https://twitter.com/search?q=%24SQ&src=cashtag_click) Q4 2020 Earnings Thread + +Revenue: $3.16 billion +141% YoY + +EPS $0.32 vs $0.24 expected + +Gross Profit: $804 million +52% YoY + +Net Income: $294 million vs $391 million YoY + +Cash App Monthly Active Users: 36 million +50% YoY + +Cash App Gross Profit: $377 million +162% YoY + +Don't own Square. But would like to be invested in fintech. Between Sq and Paypal was always more interested in Sq. With the drop is now a good time to buy and hold? Or is the valuation still too rich? Numbers look solid imo. The bitcoin purchase of 170 million doesn't seem that much in the grand scheme of things. + +I'm Canadian and don't use cashapp or the Paypal version so ppl who use it and their opinions would be nice as well. Or any other recommendations in the fintech space. + + +I recently purchased a home in anticipation of starting the next phase of my life, which will hopefully include the addition of children. I have always been a good saver and really lived within my limits, hoping to attain FI someday. I am starting to do some math on how my savings will look in the future. The down payment represented about 40% of our non retirement savings. Additional expenses on top of that (moderate home renovations, home furnishing, car purchase) represent another 10-15% of our saving. So very quickly we “spent” about 50-55% of all our non retirement savings, which has been really hard to stomach. + +Our new yearly housing cost will now represent 17% of pretax gross income (principal, interest, taxes, insurance and home association fees) – which is a somewhat significant increase over our previous rent expense which represented about 12% of our gross income. The addition of a car (we never owned one before) will add expenses, along with just general upkeep of the house. Once we have kids the bills will keep on coming (childcare, medical, food etc.) + +We have historically saved well but all this really just points to that being much more difficult to do so. I guess this is really a long-winded way of asking, how do you continue your FIRE journey as you look to start a family? It looks like my saving rate is about to plummet. How did people handle this transition and still maintain high level of savings with all the new expenses that come with starting a family? Just curious what other people’s experience with this transition in life and how that alters you financially. I live in fairly HCOL city ---so that makes this feel even more difficult to manage. + +Would be interested to hear other's experience with this transition. Thanks + +Though it was only a month ago, /u/TheEmperorOfJenks transformed himself into a eternal meme here on WSB that ripples to this day. The man who [lost his life savings on ornamental gourd futures.](https://www.reddit.com/r/wallstreetbets/comments/kzoh1c/i_am_financially_ruined_agricultural_futures/) This is one of the strangest and most hilarious ways I’ve seen someone YOLO, so I decided to follow the story for the next month. What happened after that has kept me in utter awe. Within a month, losing his ass on gourdy bois might actually be the least autistic thing he’s done in 2021. + +Since he had to take physical possession of so many of these gigantic, worthless gourds, he tried his best to make lemons into lemonade. He first investigated [how to make them into instruments.](https://www.reddit.com/r/gourds/comments/l0o9za/market_potential_for_gourd_instruments_in_great/)Then, he fully embraced the autist inside him and began to eat his loss. Literally. [He found a way to eat ornamental gourds,](https://www.reddit.com/r/gourds/comments/ld1p3z/ive_found_out_how_to_make_gourds_edible/) which could only be done by boiling them for 3+ hours. I’m pretty sure you can eat fence posts with this method as well. + +After eating gourds and likely getting massive constipation, he tried his hands at sportsbetting. In a now deleted post, [he said he had a straight up bet of $1,000 for the Kansas City Chiefs to win the Super Bowl](https://www.reddit.com/r/tulsa/comments/leyru3/there_is_absolutely_no_way_kansas_city_will_lose/). This was the last of his money. + +Then, he had a brilliant idea. A magnum opus to follow his gourds bet. Rhodium. As one might expect from someone who ruined their financial future to god damn gourds, [he declared that Rhodium was going to hit $40k in 2 months, after it just mooned to $20k](https://www.reddit.com/r/Bullion/comments/lac1oy/rhodium_is_skyrocketting_invest_now_for_ultimate/) It’s the classic buy high sell low strategy. In reality, [the price has only gone up 15%](https://www.metalsdaily.com/live-prices/pgms/) a full 85% under his prediction. So he went full retard. + +Using a credit card, [he bought 8.5 grams of what he was told was Rhodium for $4,000.](https://www.reddit.com/r/Bullion/comments/lac1oy/rhodium_is_skyrocketting_invest_now_for_ultimate/glodjo5/) And then it gets fun. + +As Rhodium rocketed up a startling 2%, instead of buying a Lambo, [he asked where he could buy a custom water bed with his expected windfall.](https://www.reddit.com/r/tulsa/comments/lajuas/where_to_buy_custom_water_beds/) It literally couldn’t go tits up. + +[Then his “Rhodium” arrived.](https://www.reddit.com/r/Bullion/comments/lckk4r/my_rhodium_just_arrived/) But instead of looking like a polished, precisely packaged piece of metal, like other precious metal commodities, he got a lump of discolored metal in a plastic bag. The commenters of /r/Bullion immediately questioned its authenticity. So, he went to the experts. [He went to What Is This Rock with his $4,000 investment.](https://www.reddit.com/r/whatsthisrock/comments/lfhu93/is_this_rhodium/) Everyone commented that it was bunk and likely pyrite. When asked where he bought it, [he gave a link to a shady Slovakian version of Wish](https://www.reddit.com/r/whatsthisrock/comments/lfhu93/is_this_rhodium/gmndl5v/), clearly the experts in precious metal futures. Shockingly, the listing was now gone, along with the storefront on the super trustworthy .sk site. + +Then, a trip to a local metals store in Tulsa confirmed it. [He paid $4,000 for a worthless piece of pyrite.](https://www.reddit.com/r/Bullion/comments/lktedl/it_wasnt_rhodium/) He has gone post silent since then, but the damage is there. Since losing $10k to gourds, he lost another $5k on sportsbetting and a precious metals scam. [He states that he is now moving to Uruguay to start over.](https://www.reddit.com/r/uruguay/comments/lh5igx/c%C3%B3mo_se_puede_llegar_a_melo_desde_montevideo_sin/) + +I, for one, cannot wait to see the next chapter in this story. When we see Spanish newspaper articles about an American in Uruguay who went $500,000 in debt betting against freshwater eel futures, we know who is responsible. + +All praise to /u/TheEmperorOfJenks. One autist to rule them all. +Breaking news that will be announced either today or later this week, but Elliott Wilke (Chief Growth Officer) will be stepping down. The former Amazonian who joined the company earlier last year is set to announce his departure. You heard it here first on Superstonk. Whether it’s his choice or was forced is still to be determined. However this “Trust Me Bro” News break has been confirmed. Seems as if the Chewy folks are slowly getting rid of the Amazonian influence. Which, for better or worse, could point that the company is going “all-in” on its Web3 push versus focusing on its retail business. + +More details to follow, however, I am sure that there will be multiple MSM outlets reporting on this issue soon. My assumption is that we will get a SEC filling after hours. + +- Ape News Network + + +(Adding more text in case that this is short of the 250 character limi. Don’t want the auto mod to prevent this News from breaking early. Text text text text text text text text text text text text text text text text text text text text text text text text text text text text text text text) +Hey. I work in London, and I'm in my early 30s. I work for a U.S. MF in Private Equity, and I'm pretty lost. It's incredibly hard to reach FatFIRE in the UK, but then again I suppose our FatFIRE threshold is much lower for a lot of reasons (top 1% wealth is below £3m compared to $10m in the US, free healthcare, good state schools that you don't need to live in ridiculous HCOL areas for) - I'd say around £2m compared to the $5m threshold for Americans. High finance is by far the best paying career in the UK (very few things ever reach six figures) and is pretty much the only salaried way to reach FatFIRE. Taxes are insane, London is absurdly expensive, and incomes for the same jobs are far lower here than in the USA. + +I've saved a bit over £1m already. I'm in the process of transferring to NY, where I hope to save quite a bit by increasing earnings/living somewhat frugally/paying lower taxes (hopefully reaching at least $2m in a couple of years) but I don't know if I can take it anymore. I'm glad to be somewhat young. I regret every second I spend at work; my hours are absolutely brutal, and by the time I retire my parents will be gone (I very rarely see them) and my marriage might be a lot rockier. They’,l be better when I move. + +So, my question is - how have those of you who successfully reached a FatFIRE amount managed to stay in a job you hate? Especially when there is such a long way (in terms of pain and time) to go, only to reach a relatively small FatFIRE figure? I feel like I've done so much only to have gotten nowhere, especially compared to people on this board. + +I feel like just giving and quitting on a regular FIRE amount of £1m - but I'll have to live on that for the rest of my life. I don't know what to do. + +Sidenote: Are there any other UK FatFIRErs here? It seems rare. + +edit: clarification - taxes at my income are actually about the same between NYC and London, but the salary will be higher +I'm not even sure if this is the right sub to ask this question in. Busted my hump for 15 years and built a CPA practice that is basically running itsself. I pay my people well and don't abuse them. I also try to share the perks of it like giving my employees time at our second home, etc. + +Anyway, we've reached a point where I don't want to work the hours I have been used to. Sounds normal, except, I'm only 40. i can easily take a month or two off a couple times a year and go to our home in the mountains, and I do. My wife and kids travel with me and we leave the heat of Texas behind for about 6 weeks in the summer. At Christmas, we will spend about 3 weeks, depending on my kids school calendar. Additionally, we will fly up for a long (3-4 day) weekend, probably once a month. + +It truly is a second home for us. I don't rent it out, but occasionally let good friends and employees use the place. We have friends in the community and even have a church that we worship at. By no means are we locals, but we're not tourists anymore either. Here's the problem. I can't seem to convince my in laws that I'm not just being lazy. I'm not going to do something as crass as showing my financials to him, but the fact is I don't want to work more than 1300-1500 hours a year and I've worked hard enough that I don't have to anymore. I could make more if I kept at it, but I don't want or need it. The time with my family is more important. How do I help them see that its not laziness, but rather, a prioritization? + +FWIW, FIL is a retired two star general with second career. Successful by 99.9% of populations standards, but obsessed with how well his kids are doing financially. My wife doesn't work and it galls him to no end that financially, she is totally dependent on me. (We have a good marriage - I am utterly dependent on her for many things, definitely a team.) Largest argument I've ever had with the man was when i offered to pay for him and my MIL to fly first class with us to Hawaii. I don't think he had the money, but he couldn't stand to accept a favor from me... How do I handle this? +I would like to preface this by saying I am extremely lucky to be in this position and grateful to my company. + +**About me:** + +* Married, 30M, no kids. Wife is 28 (F). +* Living in the Bay Area and don't plan to move due to friends and family. +* Wife left her long distance job ($85K/year) +* Net worth: $3.5M (stocks + cryptos + 401k) +* Side income: $800/month from real estate (1 primary and 2 rentals) +* Annual income: $2.2M/year for the next two years (mainly RSU) before I get a stock vesting cliff +* Expense: mortgage: $2.5K and spending $4K monthly +* Both my wife and I live fairly simple and don't expect lifestyle inflation. + + +I am working in tech. Between promotion and stock appreciation, the next 2 years will be the peak of my income. I have been at the company for over 5 years. I still love my job and my team -- This is all my own internal conflict and has nothing to do with my current company. However, my passion for coding is slipping away and I feel very demotivated. I am worried this will only get worse over time. I have always wanted to do a startup of my own. I feel unhappy pulling routine 9-5 and guilty for not focusing at work and thinking about the life after. I am well aware that I may never make this same amount of income again. + + +**My plan:** + +* After 2 years, I will definitely quit since the stock vesting will cliff dramatically +* Stay put for now and keep getting more side projects / rental income so I can make around $3K/month passively before evaluating if I want to quit within 2 years +* I will take 3 months off and then start on my side project startup after that. I am the extremely anxious type so I won't be FIRE for long before I want to jump into a new side project of my own. + +**Questions** + +* Would you consider quitting within my next 2 years? What's your story? Understanding this is a personal decision but I would like to hear different perspectives. + +**Edit 1**: Clarify my plan and question +I am moving from the east coast to LA, with LNW of 18M. I am in the area for another week or so looking at houses in different areas to buy, as well as places to rent. + +Is anyone who lives there willing to talk with me about their direct experience with different parts of the city and general advise on choosing the right location? All the options are overwhelming! Ha + +I am also willing to meet up in person as well, for dinner, coffee, drinks, etc. + +Edit: I am here on my own for the next week while my wife is taking the kids on a road trip. Would love to meet up if anyone is willing. +Just as a thought experiment. + +If the market is random and you blindly enter trades on the toss of a coin. Shouldn't the win ratio be closer to 50% over time? Give or take a few % either side. + +&#x200B; + +Instead I've found looking over old journals I was averaging low 20s, low 30s for months and months. I wonder what the factor was in being able to acheive those low %'s considering the market is random. Would a coin toss stragegy work? If someone is averging 30% win rate would they fix it by doing the exact opposite to achieve a 70% win rate? +Just curious has anyone here bought her subscription? If you have do you mind sharing your experience? Did you learn a lot? Is it worth the money? Are the daily stock picks accurate? +About 4 months ago, I finally started saving for an emergency fund. This week, I just hit $1,000.00. Also this week, I got a bill from the hospital from my visit last week and have to drain about half of it to pay what my insurance didn't cover. I'm happy that at least I don't have to add it on my credit card, but it's so sad to see the fund go when I just hit a major milestone :( +I stumbled across this video last night and it's amazing! A woman shows how she bought and prepared nutritious meals for an entire week for $10. What I found most impressive was that the foods she used actually have a ton of nutrients, vitamins, and fiber - they are definitely NOT empty calories! I did find her method of making refried beans bizarre. I would probably just heat them in a pot and use a potato masher, but otherwise, I thought this video was pretty perfect. :D + +[https://www.youtube.com/watch?v=VAYJLyYTsls](https://www.youtube.com/watch?v=VAYJLyYTsls) +Either I'll be living in a mansion or in a homeless shelter in 2022-2023, but man, I just hope this was the best decision I've ever made. Literally just dropped a large portion of my life savings into BA @ 136 and planning to forget about it for 2-3 years. It's just way too cheap, life will have to continue at some point, and the demand for traveling will obviously return and this is a 100% certainty. Remember, just two months ago, a share was $400+. The potential reward I say is huuuuge. How do you guys feel about this move? +**TL;DR - GME form nicest big setup in a long time, wait for daily close over 144.00 to target 200, 250, 300 to be safe. Play weekly close over 128.00 if you are degen.** + +\--- + +It's not often you see $GME form setups like this, so I figured I would share. You might find my point of view interesting since I am not a holder and I only swing the stock on a short-term basis, which gives me a rather unbiased viewpoint. + +Some of you might remember me from the last few rallies. Pretty much before every single large GME move to the upside, it forms setups similar to this. The other memey stocks do the same thing, almost like they are all correlated and binded to a sector of their own making. Anyway, let's get to the point. + +The price action the past few weeks is particularly interesting because instead of just dumping after a huge green candle, we are instead maintaining a higher range and consolidating sideways, gathering energy for bullish continuation. This doesn't happen often with $GME. + +Starting with the 3Y 1W chart: + +[$GME 3Y 1W](https://preview.redd.it/5be78jq02sa91.png?width=2283&format=png&auto=webp&s=c757ea026c6d1bc20ed8de2cc7e2ac5d1c4b6f03) + +This is a massive falling wedge (the setup I mentioned that we form before pretty much every move to the upside). + +The breakout point is at 128.00 - we closed a literal nut hair above it last week. I don't like close calls, I much prefer sure things in trading, so I did not act on this quite yet. I'd like to see another week over to confirm it. + +Regardless, this is the largest setup of this nature GME has ever formed, with three solid reactions to the upper trendline. A confirmed breakout would target 200.00, 250.00, 300.00 as logical price targets. I know you guys want to hear GME to infinity, but I'm just being as unbiased as possible. + +Moving onto the 1Y 1D chart, which is another reason I have not entered yet: + +[$GME 1Y 1D](https://preview.redd.it/pgumvgky2sa91.png?width=2283&format=png&auto=webp&s=3831d89d5107561f919210a87c9a02c7d41d1cfa) + +This is the interesting price action I was talking about from the past few weeks. After that huge rally Mid-May, rather than dumping, we are flagging out and forming another falling wedge - right on the larger one's breakout point. This is an ideal scenario, and healthy for an eventual break to the upside. + +To be safe, rather than playing the red line, you could play the purple one, waiting for a daily close over 144.25 to enter, and looking for the same targets. + +One thing to keep in mind here is this teal line that has confluence with key resistance @ 162.50. This could yield a strong rejection and ruin a breakout, so keep a close eye on it. + +**Keep in mind - this purple falling wedge is a downtrend until it breaks. This is another reason I am waiting for us to break it. We could chop down and reject a while longer before clearing it.** + +**Also keep in mind, it's invalidated and no longer in play if we close a day under 112.65 - this is the bear scenario and could yield a violent breakdown to 78.00 and lower.** + +Lastly, I'm looking to play STOCK with this setup. GME options are jacked to the tits with IV and have really shitty risk/reward. + +\--- + +This is by far the most interesting setup I have seen in the stock since the initial squeeze, but keep in mind it is not a sure thing. Technical analysis is an assessment of probabilities, rather than "this **WILL** happen". + +It doesn't really matter for a retard, since stop losses and stuff are mythical creatures to you all, but just something to keep in mind before you lose your shit if it doesn't go up 1000% tomorrow. +Better yet, who is loading up more as it falls under $30? + +The valuation has been pretty crazy for awhile now, but my thoughts are they still have the best product with the best name recognition in their industry. There are still huge markets left to legalize online sports betting. Florida, Texas, California, and New York remain to fully legalize and/or get started. + +This is personal anecdote, but when HardRock opened an online Sportsbook in Florida a month or so ago- there was a lot of buzz about it here; I’d hear people at the bars and work talking about it. HardRock’s Sportsbook was forced to shut down because of a lawsuit and signs point to a solution of allowing competition (like DKNG) in once they open it up again. + +I was up big on DKNG with avg price at $31 @ 500 shares. Obviously hurting now, but long term it seems foolish not to add more as it falls. + +Anyone else feel good long term with DraftKings? +Hi, + +I recently inherited about $2M. I am 29, live in a HCOL city, and work in advisory for a big 4 accounting firm, currently making about $130k/year. Recently, I've felt stuck in my career, and am trying to adjust my plans to account for this inheritance. Knowing that the best thing I can do with the money is probably to invest it in VTI and leave it, I'm asking more for advice on how those who have achieved fatFIRE would approach their career in my situation now that I'm not chained to this W-2 but am not very close to my FIRE number of $5M-$6M. + +I have no interest in the industry I'm in and I work a lot of hours for a salary that isn't nearly as desirable as before I inherited this money. I'd like to make a career change that accounts for the increased risk tolerance I now have - whether that's going back to school and changing industries or finding a different type of role. I'm also hoping to live a little more - traveling and working less hours. Before the inheritance, I was considering going for an MBA, but I'm not finding it as easy to justify the end goal of consulting of banking anymore. Any thoughts or advice are welcome! +Hey everyone, + +I’ve been lurking in this subreddit for quite a while now and find a lot of the posts extremely valuable. However, I noticed that a lot of people fatFIRE from more technically-oriented engineering or management roles in the software space and don’t see many design-related roles. + +I’m currently in my mid-twenties and am making around 120k as a UX Designer in the northeast US with ~250k net worth but want to increase my 9-5 income while also building side projects to generate passive income streams and invest in real estate/index funds. + +In the past, I’ve done a lot of freelance work and also started my own agency but decided to step away from that because it wasn’t very sustainable while working a full-time job and also don’t think it’ll allow me to make enough to replace the amount I make from my full-time job. + +My goal is to be financially independent by age 30 and then continue to grow my nest egg until 35-40. However, I’m not sure what career advice others have to increase my earnings as I feel like the design industry caps salaries at a lower ceiling compared to engineering or management roles. + +Any designers here who have fatFIRED or any advice for someone in my situation? I eventually might want to go into management (MBA) and am not sure if others would recommend that path or another. +Thinking about jumping on the Portugal golden visa but have any of you done the process this year? + +&#x200B; + +If yes, did you find it hard to start the process? +Read this quote and thought of bitcoin. Detractors have called Bitcoin slow, superficial, chaotic, and too nerdy and technical for mainstream adoption. The Bitcoin community has been called hostile. And the entire idea of decentralization labeled as a misadventure — a mere waste of time. + +We shall see! +How right or wrong am I? + +It sounds like bullshit, most of the big guys seem to make more money teaching you how to do it, instead of doing it. + +If the stock market can only go up or down, that means anyone can make a prediction and have a 50 percent chance of being correct. + +50 percent chance is hardly difficult to be on the right side of more than once. +[GameStop.com](https://www.gamestop.com/) || Shop [Internationally](https://www.reddit.com/r/Superstonk/comments/vyyzmx/gamestop_retail_international_nft_game_informer/) || [NFT Marketplace](https://nft.gamestop.com) + +GameStop [Investor Relations](https://news.gamestop.com/) + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. If you're looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade– then this is for you + +&#x200B; + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/yjawq7) + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +# 🏆 [Computershare AMA #3](https://www.reddit.com/r/Superstonk/comments/z16nw3/superstonks_3rd_ama_with_paul_conn_president_of/?utm_source=share&utm_medium=web2x&context=3) + +# 💎🤝 [Help Revise Superstonk's Subreddit Rules - Start Here](https://www.reddit.com/r/Superstonk/comments/z1fs86/help_revise_superstonks_subreddit_rules_start_here/) + +>Based on feedback from the most recent revision to Rule 2, we're asking for comments on all of our rules for the sub, some of which will contain our proposal for discussion on revisions. + +# 🎁 [Very GMErry Holidays returns for more cheer!](https://www.reddit.com/r/Superstonk/comments/ylyszu/very_gmerry_holidays_returns_for_more_cheer_wont/) + +>Superstonk held a toy drive for Toys for Tots (TFT) last year and we raised over $103,000 in money and toys! +> +>We even had a way for Apes to shop GameStop.com and ship it directly to a TFT site that was super close to a GameStop distribution center in Grapevine, TX. +> +>We had a huge positive impact! And we’re doing it again. + +# 🚀 [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread/?sort=new) + +>Need some guidance with the Wallet, Activation, Buying/Sending/Receiving NFTS, or getting a cool wallet address? Join us here! + +🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +How to [feed DRSBOT](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/). Low karma? Post your DRS on r/GMEOrphans + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/yuarvq/how_to_get_a_userflair_on_superstonk_new_emojis) +https://www.theverge.com/2019/6/13/18663036/monzo-starling-mobile-banks-uk-report + +Tbh I really think we take for granted how much better our banking system is compared to the rest of the world. Like the article mentioned the FPS faster payment service in the UK since 2008 has really helped transfer money more easily. Banking switching is both easy and seemless with the current account switch service. Just a few examples. +Adding the Bitcoin symbol to Unicode would be a good thing, and I'd like your help. Specifically, what I need are examples of the Bitcoin symbol used in "running text". That is, the Bitcoin symbol used as a character in text, not as a logo, picture, or icon. Online examples are good, but usage in a book, newspaper, or other publication would be even better. + +I've successfully [proposed a symbol](http://www.unicode.org/L2/L2015/15083-group-mark.pdf) for addition to Unicode before, so I know the process. Finding substantial examples in running text is a key component for a successful proposal. + +If you have examples of the Bitcoin symbol in running text, please let me know. I've found a few examples, including posts on bitcointalk.org and [conference](https://eprint.iacr.org/2013/837.pdf) [papers](http://arxiv.org/pdf/1405.1861.pdf), but I need more. + +Notes: I'm talking about the standard stroked-B Bitcoin symbol; see the /r/bitcoin logo. I'm aware of the ฿ and Ƀ symbol alternatives; it would still be good to get the stroked-B symbol in Uncode. Also, emoji in Unicode have very different rules; I don't think a Bitcoin emoji would be useful. +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +I currently hold F at a cost basis of $17, and I'm long term bullish but I also doubt that it will rise above that price in the nearish future. + +My plan is to write covered calls about 2 strikes OTM (roughly one standard deviation) at one month out until I either offset my loss or the contract is exercised. + +The risk here is that my shares will be called away for a loss, but overall it seems like a much better choice than either selling for a loss now or holding until the price goes above $17 because the premium and movement above the strike price would both reduce my total losses. +Hello, if I sell a CSP and it goes ITM and is assigned, I have to purchased the stocks, but do I also get to keep the premium I was paid? + +Sorry if this is a stupid question, but as the contract doesn’t expire worthless, does the person who exercised it pay me the premium? +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +Edit: the title is misleading - I was talking about not understanding the greeks on my trades, not the underlying businesses. + +I started here just before Christmas, finding stocks to run the wheel with and selling puts. So far I've sold puts on PLTR, SPCE, PLUG, GME, MARA. I've rolled my PLUG position down and out once and am managing my trades, checking in daily. But I'm looking at my dashboard and really not understanding what's happening to what and why. I spent a long time deciding on what tickers to run the wheel on using around a 0.3 delta for each, and only going for an IV above 50%. These are all stocks I'd be happy to hold too – I can afford to be assigned. + +I'd like to get some of your thoughts though, positive or negative as I feel like I'm going round in circles at the moment. So, please and thank you, and fire away. + +Edit 2: new image + +https://preview.redd.it/ysowxsctco961.png?width=1439&format=png&auto=webp&s=e62d6f9e70144079db64e83e26c3030a0fce295a + +&#x200B; +I have a small account with most of my funds are tied up in other thetagang-style plays, but I recently freed up enough that I'm looking to get into another PMCC, but am not really sold on a candidate underlying. + +I'm targeting buying a call for Jan 2022 or later that's a total of $700 or less. + +I was thinking GE but I'm not sure it's going up any further. It's had a solid upward trend after the covid crash but realistically it feels like it's going sideways. + +Same with F, it's popular with options traders but again I expect more sideways than upward movement. + +I see potential for ICLN to go up after continuing down for a bit, but Jan 2022 is too tight a timeframe and Jan 2023 is just outside my current free funds. They're changing how they calculate NAV in May too so that can affect the price. + +Does anyone have some better underlying candidates you're bullish on? I currently have a Jan 2023 PMCC on ZNGA, everything else is CSPs or Wheels. +So covered calls and the wheel seem to out perform on a sideways or down market. + +What out performs a bull run besides buy and hold with some leverage? + +Otm covered calls? I'm still new to options a lot I don't know yet +Hey Thetagangers, + +Recently I decided to challenge myself to only playing credit spreads as a way to learn the nuances of the strategy. This is actually week 2 of the challenge but from now on I hope to post weekly updates to share my successes and failures and learn from all of you as well. + +Profile: [https://www.thetagang.com/CreditSpreadKing](https://www.thetagang.com/CreditSpreadKing) + +**BY THE NUMBERS THIS WEEK:** + +* Realized Profits: +$720 +* W/L Ratio: 100% +* AVG Trade Length: 2.7 Days +* ROI \~ 40% + +## CLOSED POSITIONS + +**LULU PUT CREDIT SPREAD** **295/297.5** + +* Open: 4/1/21 +* Expiry: 4/16/21 +* Closed: 4/8/21 +* Price filled: 0.82 (4) & 0.88(4) +* Quantity: 8 + +Reasoning: LULU beat its ER and is down 4%, which is due to selloff from people playing earnings. BECKY stocks always do well and I expect LULU to rebound quickly. ROI \~ 54% POP 61% however fundamentals tell me this is a low-risk play. + +Notes: It hit around 50% profit in 1 day but since I'm on webull and can't set a GTC take profit trigger, I missed out on it and had to wait a bit longer to cash in. Even with LULU having some red days here and there, it never dipped below my long put because I positioned it a few strikes below the support level that I marked up from my TA. + + **Realized P/L: +$416** + +&#x200B; + +**DIS PUT CREDIT SPREAD** **180/182.5** + +* Open: 3/31/21 +* Expiry: 4/16/21 +* Closed: 4/6/21 +* Price filled: 0.73 +* Quantity: 4 + +Reasoning: Great fundamentals and reopening play, and I like the company enough to only get in at 27 IVR. Taking ROI of 42% and only 56% PoP, which may seem low but TA shows solid support at 183 and future outlook for the company looks great. I think this is a relatively safe play to get in on. + +Notes: Got out at 50% profit. Like I suspected, even with a couple of red days, DIS never closed below my long put, showing how stable the stock is (BECKY FTW). + + **Realized P/L: +$156** + +&#x200B; + +**SPY CALL CREDIT SPREAD 410/411** + +* Open: 4/6/21 +* Expiry: 4/7/21 +* Closed: 4/7/21 +* Price filled: 0.14 +* Quantity: 4 + +Reasoning: SPY has been on a tear recently with consecutive green days, and even if I'm wrong with my prediction, these contracts will most likely still expire OTM. Scalping for a ROI of 16%, and waiting for volatility to go up a bit more before I enter into any other longer-term plays. + +Notes: SPY did experience consecutive green days, but as I predicted failed to climb to 410. These expired worthless. + +**Realized P/L: +$56** + +&#x200B; + +**SPY PUT CREDIT SPREAD 404/405** + +* Open: 4/7/21 +* Expiry: 4/7/21 +* Closed: 4/7/21 +* Price filled: 0.2 +* Quantity: 4 + +Reasoning: 0 DTE SPY trade waiting for the vix to go back up before I can feel comfortable going in on some other plays I have in mind. This is pretty close to the current price which makes it a bit riskier, but I don't think it'll touch below 405 today. + +Notes: Got an incredibly good entry and SPY rebounded and never dipped below my long put once. Held to expiration. + +**Realized P/L: +$80** + +&#x200B; + +**SPY CALL CREDIT SPREAD 410/411** + +* Open: 4/8/21 +* Expiry: 4/9/21 +* Closed: 4/9/21 +* Price filled: 0.23 +* Quantity: 4 + +Reasoning: another SPY day trade that I will be fine holding overnight. Even with the ridiculous bull run lately, I don't think it'll hit above 410 by eow. + +Notes: I was wrong, it did hit 410 and then some today, due to an insane power hour run towards market close. Luckily, there were multiple points in the day where profits could've been taken, and I took mine when I started to feel uneasy about this trade. This is definitely something I need to look back on, a huge gamble in hindsight chasing a bit more premium. + +**Realized P/L: +$12** + +&#x200B; + +## OPEN PLAYS + +**FB CALL CREDIT SPREAD 315/317.5** + +* Open: 4/6/21 +* Expiry: 4/16/21 +* Price filled: 0.68 +* Quantity: 4 + +Reasoning: FB is showing that it's overbought hitting its ATH since 09/2020. ROI \~ 37%. Actively managing this trade and looking for a 50% trigger like usual, but may come out early depending on how the week looks. + +Notes: FB also has some negative news this week, but despite that climbed a bit more, even hitting 315 at one point this week. However the past two days has retraced a little. I realize that put credit spreads come relatively easy to me, but I always end up having trouble with call credit spreads and where to set the strikes. This is something I look to improve on moving forward. + +&#x200B; + +**DKNG PUT CREDIT SPREAD 56.5/59** + +* Open: 4/8/21 +* Expiry: 4/23/21 +* Price filled: 0.67 +* Quantity: 4 + +**DKNG PUT CREDIT SPREAD 56/59** + +* Open: 4/8/21 +* Expiry: 4/23/21 +* Price filled: 0.8 +* Quantity: 4 + +Reasoning: bullish overall on this company despite the stock retracing from its highs, I have strong beliefs that the support is around the 60-61 levels. IVR \~ 50%, ROI 35% PoP 70%. + +Notes: I ran two different widths to see how each plays out, just for testing purposes. Almost hit 50% profit today, I actually set an order to close both positions around 40-45% profit, but it never got filled. + +&#x200B; + +**DIS PUT CREDIT SPREAD** **180/182.5** + +* Open: 4/9/21 +* Expiry: 4/23/21 +* Price filled: 0.68 +* Quantity: 4 + +Reasoning: This is the same trade we did a week ago that we were able to close 50% profit within 6 days. 183 strike continues to be solid support, I think this is a relatively safe play to get in on. \~37% is a great return! + +&#x200B; + +**BA PUT CREDIT SPREAD** **242.5/245** + +* Open: 4/9/21 +* Expiry: 4/23/21 +* Price filled: 0.72 +* Quantity: 4 + +Reasoning: Great fundamentals and reopening play, 40% ROI, TA shows decent support around 249-250. + +&#x200B; + +I will look to close a couple of these positions early/mid next week, and get in on some more 0 DTE SPY spreads. Not sure how receptive the subreddit will be to posts like these, but if people like this stuff I'll continue doing my weekly updates. Cheers! +I've been trading options since 2019 - so not that long, but also not an absolute beginner anymore. Selling contracts and implementing "theta gang" strategies has been my most winning trade, but it has also become my comfort zone - a crutch. + +I research and back-test other types of strategies such as momentum trades on low float stocks and buying weeklies, but it's just not my style. I really am best at collecting premium and profiting from the theta (time decay). It gets old though. Sometimes I want a piece of the "big" action, like these guys that are buying stocks that spike over 10% pre-market and know exactly when to exit and when to enter. They make tens of thousands of dollars a trade. It's a completely different style than selling contracts at the best price possible, and protecting your credit. + +Theta gang is a much slower style of trading, but it's been my "bread & butter". I've tried other methods however, with less success than theta gang. I know its possible to add another element to my game by continuing to gain experience in my paper money account, backtesting, and eventually trading small. I just don't think it's my way though. To use a basketball analogy, I am one dimensional like Shaq. Dunks and dominating the paint is Shaq's theta gang. It's what he does best, but momentum trades are Shaq at the free throw line. He's lucky to get a few wins there. + +Shaq is still a great player though, but he ain't no Kobe or Jordan. +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +I am relatively new to investing as a whole but I have done enough research to figure out that thetagang is the way to go. + +The main thing I am confused about is what kind of profit targets I should be chasing. Some people say you can expect 25% a year, and others say you won't ever be able to beat the market. + +So for those who have actual experience selling premium through all kinds of market conditions, what kind of returns can I expect after getting a decent grasp on all of the different strategies? Is it worth the extra effort when compared the simplicity and reliability of buying and holding? + +Any recommended sources for education would also be appreciated. Right now I mostly watch tastytrade and option alpha videos on youtube. +I was reading the article below. +Monthly SPX options have a last trading day on Thursday but expiration is Friday. + +What if I sell a spread: It’s otm on Thursday but becomes itm on Friday? + + +https://support.tastyworks.com/support/solutions/articles/43000435289-cash-settled-indexes-options-specifications +My objective is to run a portfolio composed of 10-20 long term options. Expiration would be between 1 and 3 years. They would be primarily calls, some occasional puts, all OTM. The underlyings would be for the most part single equities. + +The problem I have with this strategy is that in order to get significant leverage, which I want, I end up being long volatility, which I don't necessarily want. I also end up being exposed to time decay, although this could be mitigated by rolling the options in the months prior to expiration. + +Of course, given my objective and desire for leverage with this strategy, I know it's impossible to be completely neutral, but I would like to hear suggestions on how to partially hedge against volatility and time decay. I also seek to integrate your proposed hedging strategies in a "bigger hedge" against other market trends. For example, if one of the single equities I'm exposed through a LEAP is a small european minining company, I could hedge against the average performance of small european mining companies. + +Thank you all for reading and for providing possible solutions. :) + +Two weeks ago I opened twelve 3350-3340 credit put spreads for 2.5, keeping in mind the ER date of 10/23. + +Meant to close or roll them out yesterday, missed because I broke a glass on the floor under the desk. Cleaned it fast to get back to it, apparently not well enough as I got a piece stuck in my foot and then the market closed. But I digress... + +Had a chance to close them for a decent profit - about 1.6 this morning. But then I saw the SPY block prints, the premarket activity, call:put ratios etc. Of course I ignored the postponing of ER and the negative talk about prime day and GEX. Thought I was smart and concluded this looks like a green day, so why lose out on $160*12, right? + +... Wrong. Well it was indeed green, until 11am, I reckon. Then sideways, then hell. +It just didn't make sense to me so I kept holding, even though I had another opportunity to close it at 2:55pm, which I skipped due to similar reasoning - seems like it's going up, power hour, pump before market close, hubris. + +Eventually ended up rolling them out before the final smackdown, when $AMZN was around $3300. Silver lining, I guess. + + +**TL;DR:** So to avoid losing $1000 for each 10/16 3350-3340, I ended up having to pay $140 for the great privilege of owning 10/23 **3500-3490**. Idk what I'm gonna do with it next week if we start with multiple red days in a row. + +At the point in which $AMZN was already at $3300, was there anything I could've done better other than to roll it out to a terrible position like that? +Any other tips on how to be not stupid? +TL:DR: Mining migration from China = fewer miners to share rewards ---> More profit for North American miners ---> Miners have shifted and started to HOLD the mined rewards therefore reducing supply ---> GBTC is trading at a discount to NAV = less institutional demand for the time being ---> MARA and RIOT low IV rank = cheap PMCC + high IV premium + +&#x200B; + +*Before anyone asks, no I am not making a post about BTC, but in order to understand the opportunity that is in HUT, MARA or RIOT (the North American miners in particular) one MUST look at the metrics that pertain to underlying product they produce. So before mods try to ban, fair warning this post discusses some data points of BTC and mining, but only as they pertain to the stocks in question.* + +*Most of this data can be found on Glassnode, good resource for those running PMCC or CCs on MARA or other mining stocks.* + +# Quick Overview of The Fundamental Shift (Great Migration From China) + +&#x200B; + +>*"* When a significant proportion of hash-power comes offline, blocks will be mined at a slower pace until the difficulty adjusts downwards. This realigns the complexity of the mining puzzle to the average hash-power observed over the 2016 block difficulty window" - Glassnode Report (linked below) + +The China ban has had quite an impact on the overall hash rate of the BTC network, this in turn will result in a difficulty adjustment in the mined blocks. + +>*"Hash-rate on the network was typically around 180 EH/s at the peak...Hash-rate has since recovered and stabilised around the 88 to 110 EH/s range,* **reflecting an overall decline of 38% to 49% of hash-power**\*. This provides a gauge on the proportion of the network that is currently offline and affected by the ban in China." -\* Glassnode Report (linked below) + +As noted in the article, this translates to both a decrease in the number of mining rigs that are operational (i.e. fewer miners to share the rewards with) AND with the difficulty adjustment easier blocks to mine (older hardware is still profitable to use for mining, usually ASICS will need to be replaced every 18months or so). + +&#x200B; + +>"When Bitcoin was trading in the $50k to $60k range in April, hash-rate was at its peak, and the aggregate mining industry saw incomes of $50M to $60M per day. Whilst prices have since declined by around 50%, the miners who remain operational have just seen an estimated 38% to 49% of their competition switch off in the short-term." +> +>"The daily aggregate revenue now around $25M to $30M per day, but is shared amongst a smaller pool of miners. Same daily BTC issuance, fewer competitors to share the spoils." +> +>"This implies that following the latest difficulty adjustment, operational miners are incurring the same OPEX expense, but are seeing profitability rise almost 2x, approaching similar profitability levels to back in April." - Glassnode Report (linked below) + +This is obviously VERY beneficial to North American miners like HUT, MARA or RIOT because this allows them to build a war chest with the added profitability and allows for more aggressive expansion (MARA in particular is in the process of acquiring and installing thousands of rigs, but I digress). + +# Structural Shift in Miners Behavior + +&#x200B; + +>"For almost all of Bitcoins trading history, miners have consistently spent more coins than they accumulated such that unspent supply was in a structural downtrend." + +The below chart highlights the spending flow of BTC mining operations, as noted above, for all of BTC's history miners have been NET sellers, i.e. a bearish force within the markets. + +This was for obvious reasons, in order to fund their operations miners needed to liquidate the BTC they mined to continue to operate. + +What has become apparent by reading North American based mining statements is that they are now starting to get access to capital markets and traditional financing (think MSTR issuing bonds for BTC, but less retarded). + +This means that miners such as HUT, MARA or RIOT can (and have actively stated they will) hold the mined rewards on balance sheet rather than sell to the open market. + +This has two major affects in the market + +1. Supply squeeze, simple supply demand dynamic at play, fewer being issued to the market, even if demand remains linear price MUST increase (let alone demand increases) +2. The mining stocks themselves will benefit from any price appreciation that occurs AND they are building ample cash/ BTC reserves to allow them to have more robust balance sheets (longer-term moves to assert network dominance/ access to financing in the future). + +>"The chart below shows the unspent miner supply (i.e. Coinbase transactions that have never moved) plotted against its 365-day moving average. From mid 2020, the structural downtrend in miner distribution, appears to have not only flattened out, but reversed. The unspent BTC in Coinbase outputs is now above its yearly average. +> +>This suggests that miners have begun accumulating in a way the market has not seen to date." -Glassnode Report (linked below) + +[Miner Unspent Supply - Glassnode](https://preview.redd.it/38wfw9po4ka71.png?width=1041&format=png&auto=webp&s=fe53632c0ddec07791ae727fd3652dc9c2b601aa) + +This is quite a big development, as this would be akin to gold miners refusing to sell to the open market and stating that they will retain it all on balance sheet, during a bull market. + +# GBTC NAV - Institutional Demand...Or Lack thereof? + +The below chart is simply the GBTC (Greyscale Bitcoin Trust) NAV (Net Asset Value) premium/ discount to underlying (the baseline chart) plotted against BTC (candlesticks), the vertical line highlights when the NAV premium/ discount flipped to a DISCOUNT to the NAV. + +[GBTC NAV Premium Plotted Against BTC](https://preview.redd.it/t8yzb6po4ka71.png?width=1820&format=png&auto=webp&s=948f1a7b1bd322d36e792940b9aa86080e07bd71) + +For those that may be a little lost, let me back up. + +1. If the baseline is positive (above zero) this means that buying GBTC costs MORE than spot price, i.e. it is cheaper to buy BTC from the open market, rather than GBTC +2. If the baseline is negative (as is the case now) this means that there is an arbitrage opportunity (the shares of GBTC are trading LOWER than the value of the BTC under management). +3. I would hazard a guess that between the forced selling in China from miners forced to relocate (billions of dollars in relocation/ logistical costs) and the arbitrage opportunity that GBTC currently presents BTC demand is going to remain lackluster at least for the time being. +4. The baseline chart, shift the decimal (currently trading at a 12% Discount NOT 0.12% (methodology I used is linked below). + +# Putting It All Together + +1. North American miners are as profitable NOW as they were when BTC was at 60k. +2. Miners have begun to shift to a traditional financing method to fund operations (rather than sell BTC) and keep the mined rewards on balance sheet, this in turn squeezes the supply available to the public/ institutions. +3. Institutional demand is largely muted, due in part to the forced sellers in China and the arbitrage opportunity present in GBTC. + +# The Opportunity + +Below are the IV charts for MARA and RIOT (HUT data reset after NASDAQ listing, although I imagine it is similar) + +1. PMCC are a great longer-term play on these stocks IMO, as their IV rank (on IB) is as low as it has been in the past 12 months, premium is still quite nice for CCs and the LEAPS will benefit from any jump in IV. +2. HUT has limited options and no really long dated LEAPS, as of yet, best to play a stock/ CC strategy IMO. +3. The longer-term opportunity for the miners is as good a reason as any to enter a position (keep in mind these are highly volatile stocks, position accordingly), but the low IV rank and quality premium for CCs makes it a very high ranking choice for me. + +&#x200B; + +[MARA Historical IV](https://preview.redd.it/ds8grz4fcka71.png?width=1593&format=png&auto=webp&s=7251a378d57faddbb06dcb1a73940e38e3d9b724) + +&#x200B; + +[RIOT Historical IV](https://preview.redd.it/ewvnna17dka71.png?width=1593&format=png&auto=webp&s=b19c7472265eeb68c096d7d702e31eb222d4a9b8) + +Sources: + +Glassnode (highly recommended for Crypto insights into on-chain activity) + +[https://insights.glassnode.com/the-week-on-chain-week-27-2021/](https://insights.glassnode.com/the-week-on-chain-week-27-2021/) + +GBTC NAV Premium Calculation + +[https://www.tradingview.com/chart/GBTC/gFJmuDQP-How-to-chart-Premium-Discount-to-NAV-for-BTC-Closed-end-Funds/](https://www.tradingview.com/chart/GBTC/gFJmuDQP-How-to-chart-Premium-Discount-to-NAV-for-BTC-Closed-end-Funds/) + +RIOT/ MARA IV Charts + +[https://marketchameleon.com/Overview/RIOT/IV/](https://marketchameleon.com/Overview/RIOT/IV/) +For those of you in margin call today, please post here and tell us how you got to this point, what mistakes you made on the way to the notification, and how you plan to dig yourself out. + +Let us learn from what got you here. +This acquisition will likely have minimal impact on their balance sheet or cash flow. + +I had never heard of them before today, but Visuals by Impulse is a small private company with about 30 employees. I can't find any good info on who their investors are/were, but they're organized as an LLC in Colorado (no Delaware C corp presence). They were previously organized as an LLC in Oregon. + +Anyway, with that structure they're limited to 99 investors, the taxes are pass-through to the member(s), and no institutional capital would have ever backed them without the ability to issue preferred shares. So it's safe to say they (likely) haven't received any massive funding rounds that have to be paid out, and certainly haven't received any funding where institutional investors with preferred shares have to be paid out as part of the acquisition terms. + +That isn't to say Corsair didn't pay well for their team and market reach, but I don't think it's going to have a significant impact on their business or cash flow. + +If I'm wrong, or I'm missing something, please jump in and tell me. I had a lot of work today, so my research time was limited to about an hour. + +TL;DR A $3B market cap company buys a small 30 person LLC and is oversold on the news. CRSR should be fine. +**PsychoMarket Recap - Wed Aug 26, 2020** + +**Summary** + +Once again today was a day full of records, the major indexes had an incredible run hitting all sort of highs the S&P500 closed up 1% and the NASDAQ up a whopping 1.7% . The Dow Jones lagged behind a little, but still closed 0.3% up, its at its highest point since the March lows. Market pushed by a combination of optimism on China trade talks, vaccine hopes, and liquidity. Interesting to note the Russel 2000 closed down 0.7% today. + +The big one today is that Hurricane Laura is expected to be devastating when it hits the Gulf of Mexico area and potentially could cause up to $25Billion in damages, according to Bloomberg. Currently its a category 4 out of 5 maximum in the Saffir-Simpson Scale jumping from a category 1 in a day. This will cause even further stress on an already ailing oil industry. + +Presidential campaigns continue to develop during these unprecedented times. While at the same time stimulus talks seem to have hit a bump in the road. FED Chairman Jerome Powell is set to speak tomorrow on the FED’s monetary policiy framework with emphasis on inflation management. They have already declared that interest rates will remain at zero for the foreseeable future. + +Meanwhile the market seems to be on its own agenda as talks rage on between the experts as to whether we are in bubble territory, whether the market is overvalued, or if the economy is already on its way to a sustainable massive recovery to all time highs. + +**Highlights** + +* Notable player for the day is $CRM Salesforce, up around 25% at All time highs and upgraded to a target of $300. Today closed over $270. +* ($GOOG) Google, ($AMZN) Amazon, ($FB) Facebook and ($TSLA) Tesla all hit new highs, and ($NFLX) Netflix getting really close as well. +* ($AAPL) Apple Inc, upgraded by Wedbush from $515 to $600 +* ($NIO) NIO upgraded by ($MS) Morgan Stantley from $12 to $20.5 +* ($FLDM) +* Desktop Metal, a 3D printing unicorn, is set to IPO through a SPAC led deal with TRINE Acquisition Corp. at approximately $2.5B +* FDIC reported that banking industry second quarter profits fell by 70% +* ($NIO) NIO upgraded price target to $20.5 the stock ran 15% after yesterday having another major run. Up 50% for the week! +* Jack Ma’s Ant Group to have an IPO, one of the biggest ever at around $200B +* ($TSLA) Tesla’s Elon Musk is now the fourth richest person in the world. + +**Notable Earnings for tomorrow:** Burlington Stores Inc ($BURL), Canadian Imperial Bank of Commerce ($CM), China Life Insurance Co Ltd ($LFC), Dell Inc. ($DELL), Dollar General Corp. ($DG), Dollar Tree, Inc. ($DLTR), HP Inc. ($HPQ), Marvell Technology Group Ltd. ($MRVL), Okta Inc ($OKTA), PagSeguro Digital Ltd ($PAGS), Toronto-Dominion Bank ($TD), Ulta Beauty Inc ($ULTA), VMware, Inc. ($VMW), Workday Inc ($WDAY), +Hi, I’ve been reading posts on here and other places (e.g. news, bank websites) and decided I’d like to further educate myself on how money works in the world. So far I’ve been getting bits of information, and filling in gaps with my own theories. Which books should I start reading? I have a preference for academic books, although all suggestions are welcome. In particular, I’d like to read books about the uk economy, house prices, wages and inflation. Thank you. + +Edit: Thank you for all the recommendations. I will check them all out. I’m interested as it directly affects me and us. Maybe I could propose some kind of new economic theory for unlimited growth that is actually possible based on nuclear fusion?? Who knows haha +I jumped on the train like everyone else, but began to notice a lot of malice and discord between people who think differently about the future of these meme stocks. + +The important thing people need to remember is everyone on here is a stranger. We joke and talk shit which is fine and all, but you have no idea what people are doing outside of what they commented. The majority of people here are likely in it for themselves. You don't know what their motivation is, be it telling people to buy/hold for those looking to cash in, those who "just like the stock", or those that say sell because they are "shills" or have some other ulterior motive. Maybe they are trying to look out for you. Maybe not. + +At the end of the day stop letting emotions and the temperature of this and other subreddits dictate your choices. What happens here might influence the market, but I've seen too many posts about diamond hands and monkey grips with the stock continuing to decline to think we have any significant role in what happens with the price. Don't put in what you can't risk to lose; it isn't worth it. + +TL;DR - If you want to buy - buy. If you want to hold - hold. If you want to sell - sell. But for fuck's sake be careful. +My Google news feed pushed this Forbes article: Given Current Rates, Cashing Out Your 401(k) To Pay Off Your Mortgage Can Make You A Bundle (https://www.forbes.com/sites/kotlikoff/2020/04/08/given-current-rates-cashing-out-your-401k-to-pay-off-your-mortgage-can-make-you-a-bundle/). + +I read it twice to be sure I understood it. Yes, it says you should consider *cashing out a portion of your 401(k) to pay off your mortgage* as allowed by the CARES Act. To me, a layperson who's been on a successful trajectory toward financial independence for 25 years, this sounds like terrible advice. + +The premise is that "Jack and Jill" have a 30-year, 3.75%, $400k mortgage on a $600k house and $1.1M in their 401(k) accounts. Jack was furloughed but they have $100k in emergency savings. They make a special withdrawal of $500,000 from Jack's 401(k) account, use $400,000 of this sum to immediately pay off the mortgage and the remaining $100,000 to pay the extra 2020 taxes resulting from the huge 401(k) withdrawal. + +Did they just murder their retirement plan? Yes they did! Why would they do that? Because in this hypothetical, Jack and Jill's 401(k) plans were 100% invested in Treasury bonds returning a paltry 1.27%. The difference between the 3.75% they lose to their $400k mortgage and the 1.27% they make in their 401(k)s is 2.48%, so of course they should take a $100k tax hit to move $400k to the mortgage, right? + +But, you say, wait ... why are Jack and Jill's 401(k)s invested 100% in Treasury bonds? Good question! It's because Jack and Jill are 60 and 55, close to their target retirement age of 67. + +But, you say, wait ... don't Jack and Jill have 30 years left on their mortgage? Yes they do! These super-conservative retirement planners just took out a mortgage that they'd still be paying well into their eighties, 13 and 18 years into their retirements! + +Is it just me, or is this a ludicrous solution to an unrealistic scenario? +Slightly away from the normal questions posted here but definitely finance related! + +Due to travelling and moving around a lot due to short term contracts, I've not been to the dentist for about 5 years. I know I need to go but none of the dentists around me are accepting NHS patients, not a single one! + +One option is to go private, which is pretty pricey, but the other is to join a dental plan. There are 2 different dental plans, each about £30-40 per month. I'm currently on my highest wage, and I guess I could afford the dental plan, but is it good value? Seems like it would only be worth it if I needed loads of work done, but I guess I won't know that until I go, private could potentially work out more expensive. + +Anyone got any advice on which option makes more financial sense? +Hoping for some help. I’ve been lurking for a while and finally decided to post. I’ve seen this sub come together and help people and maybe you can do the same for me. + +This is about being in debt, stuck in a job I don’t enjoy and feeling like I’m going nowhere in life. + +I’m in my early 30s. At 20, I went to uni to study computing and visual design. However, I dropped out after two years and started working in retail while I ‘figured out’ what I wanted to do. Turns out I didn’t enjoy computing. It was more coding, less creative. And I only applied to study that because I was advised to do something useful in school. The ‘maybe one year in retail before I move on’ turned into years. + +I’m still in retail. I would love to get ahead but there never seems to be any opportunities to move up, for example, to a head office role or something. Not that retail is my passion, I just want to do something more than what I’m currently doing. + +I make £1200 a month. Though, right now, I’m focusing on paying off my debts. My debt amount is 14k. I’m doing okay-ish with the repayments. Though obviously, I’ll feel better when it’s gone. Fortunately, my outgoings ate fairly low and I’m also living with a relative at the moment. + +While I’ve been working in retail, I have been studying with the OU for a degree in English Literature. That is what I enjoy and that is what I should have studied at university. But I was terrified at not being able to find a job with an English Literature degree. Little did I know back then, that most employers are happy to accept a degree in any subject unless you’re looking at medicine, law, accountancy, etc. + +I’m not good with numbers. I’m much better using the creative side of my brain. + +The first year of studying was great! I was really enjoying it and I did well. But it all fell apart in the second year. I was being bullied by a particular manager at work. It turned out to be a whole big thing, what with the grievance process and everything. My concentration and drive to do anything was shot. I couldn’t concentrate on my studies. I miserably passed one 2nd year module, only to defer the next. I was advised to take some time out from studying. + +I’m still at the same job. They’ve moved me to another department so I wouldn’t have to speak to that manager but they told me they couldn’t promise that our paths wouldn’t cross in the future. It all depended on business needs. Im bitter about it and I don’t want to be there anymore. I feel like I’ve been treading water all this time. This incident with the manager was the final straw. + +The entire ordeal made be feel so dejected and had me questioning everything. What was I even doing? I feel so low and useless. + +I deleted my Facebook account because every time I checked up on anyone, they all seemed like they were leaps and bounds ahead of me. Nice car, nice house, a good family, a fantastic job with good pay ... I was ashamed to put my life out there for them all to see. + +I know people here will tell me it’s not worth keeping up with the Jones’ but it’s easier said than done. + +My self worth seems to be tied up in my ‘career’ which right now, is non existent. I don’t know what to do. I want to earn more and have some assets. I want to save for the future. + +So what do I do? Do I scrap the OU degree even though I love what I was studying? Do I study something else with the OU instead, something that will get me a better paying job? Is it worth even getting a degree anymore? What kind of jobs can I get now? If it was decently paid, I wouldn’t mind. Even if it was around 25k. I’m not asking for a 40k-50k salary. Just want to be doing better than I am. + +My secret dream was to be an author. Not to be super famous or anything. But to make enough to get by and save for retirement. But it sounds like a stupid fantasy I need to wake up from. + +I feel like such a failure. My mental health has taken a plummet. I have no confidence. I feel like giving up. + +Any advice would be greatly appreciated. +"Ellison pleaded guilty to seven counts, according to The Washington Post. She faces up to 110 years in prison, WaPo says. Wang pleaded guilty to four counts and faces up to 50 years in prison." + +"Bankman-Fried and Wang allegedly gave Alameda and Ellison “carte blanche” to use funds deposited by FTX customers. + +At its peak, FTX moved $20 billion daily in trades, according to the CFTC. Bankman-Fried and a select group of insiders, including Ellison and Wang, are alleged to be the only people who knew that FTX was engaging in fraud. The cases against Bankman-Fried are both criminal and civil and have been brought by the SDNY, the CFTC, and the SEC. Allegedly, FTX customer funds were used for loans to executives, risky trading by Alameda Research, political donations, and lavish spending on everything from beachfront homes to private jet flights." + +"Ellison, acting on Bankman-Fried’s orders, borrowed billions of dollars from lenders, according to the SEC suit. Those loans were backed “in significant part” by the FTX token, which was issued by FTX and given to Alameda for free, the SEC wrote. Ellison’s job was to buy FTX tokens on various platforms in order to increase the price, thus making the FTX token that was collateral against Alameda’s loans more valuable. That, in turn, made it possible for Alameda to borrow even more." + +https://www.theverge.com/2022/12/21/23521967/sam-bankman-fried-ftx-crypto-fraud-caroline-ellison-gary-wang +The LunaDoge token ($LOGE) takes the deflationary tokenomics of Safemoon and fuses it with the novelty of Dogecoin. LunaDoge operates just like SafeMoon, Shiba Inu, Elongate, and Moonrat with regards to a quadrillion dollar token supply and deflationary nature. + + +LunaDoge is a fork of MoonRat and SafeMoon. Both projects have been audited by CertiK, assuring users that there is no backdoor in the code for the team to scam its investors. $LOGE is currently in it’s infancy and is only available on PancakeSwap🥞. + + +Why does this token have Moon potential? + + +💰✅Hold and Earn💰 + + +· Every transaction incurs a 10% fee · 5% distributed to hodlers (LOGE will automatically get added to your wallet) · 5% permanently added to liquidty creating a steady rising floor Anti-Whale measures · Transactions greater than 0.5% of supply rejected to prevent Whale manipulation + + +🔒✅Liquidity Locked🔒 + + +· Team tokens (24% of total supply) locked using third party provider DXSALE · Team tokens RE-LOCKED as of May 5th · 15% for 6 months, 5% for 3 months; 4.7% for 14 days which will be re-locked again · 1% burn every 2 weeks to a dead address which will create an ever decreasing supply of LOGE + + +👨‍👩‍👧‍👦✅100% Community Driven👨‍👩‍👧‍👦 + + +· LunaDoge is fully transparent · Whitepaper · All team and LP tokens have been locked · Every trade automatically contributes to generating liquidity + + +🔥✅Bi-weekly Token Burn🔥 + + +· Every second week the team will burn 1% of total $LOGE supply from their own tokens · This coincides with team token re-locks + + +🚨✅Marketing and Branding🚨 + + +· They have a growing community on Telegram, Twitter, and Instagram (links at the bottom) · This is a key element in the success of any product · The graphic design team has developed an appealing logo · Community contests such as a meme competition (running until May.8th) · They've partnered with multiple influencers to build brand awareness + + +💥✅What’s in the Pipeline?💥 + + +· Coinmarketcap listing (application pending) · Coingecko Listing (application pending) · External audit · Website updates · LunaDoge Mars Program · Cross-chain integration · Token farming · Partnership rollout · Community growth + + +This team has continued to demonstrate their commitment to the LONGEVITY of this project and have continually increased my investment confidence through their actions! Its holders are put first and that seems to be a rarity given the recent landscape of startup projects. I truly believe this has this potential to compete with, if not surpass, Safemoon. + + +Do your own DD and let me know what you think! Hopefully we’ll take a ride to the moon together🚀🌕🚀🌕 + +&#x200B; + +**Website:** [**https://lunadoge.finance/**](https://lunadoge.finance/) +Hi all, I have shares in a company called MindMed, researching Psychedelic medicine and therapies, however Euroclear, Hargreaves Landsdowns custodian no longer wants involvement with 'cannabis related stocks' + +They have given me 3 options + +Sell now (big loss) + +They sell automatically by January 2023 + +I transfer stock to another broker + +The problem is, are there any UK brokers that don't use Euroclear? + +I'm afraid that I'll have no option but to sell at a loss +What financial instruments should I put my money in? I'm not looking to get rich overnight as it took me about 12 years to save this much minus the daily expenses for my family. + +I was thinking about buying some precious metal to tuck away before the impending economic doom. What do the People's Republic of Reddit think? Thanks! +From what I understand, bond prices usually are inversely related to yields which are rising due to various factors. In addition, since the feds are purchasing bonds anymore, won't the decreased demand for them drop the price down? I haven't much about the bond market's response to the current and near future. If so, perhaps inverse bond price ETFs might be a good way to benefit from this effect. If there are other ways to take advantage of the potential bond price drop, I would be happy to hear it. I just wanted an opinion from those who are paying attention to the effects of the yield rate spikes and anticipated reduction of federal purchases. +For me it was when I learned about bitcoin being a form of property. + +Edit: I should've said: "unconfiscatable property" since this word practically didn't exist until Bitcoin became a thing. +TL/DR: high earners running out of steam, need to drastically cut lifestyle, it's HARD. + +\------------ + +I'm 43, married, 3 young kids. The wife and I both have our MBA's and have had good careers so far (I work in finance, she has her own business). We have both always earned six-figures and have had a couple of years where we earned over $1MM combined. + +Our lifestyle has been set up for *maximum* convenience to allow us to have very high-demand careers. You could point to a lot of things about it that are not FIRE (we have an au pair, 5 BR house near the city in HCOL, 3 cars, kids in private school, yard service, maid service, grocery delivery) but all of that is set up so that we spend less time commuting and schlepping kids around, and the time we have with the kids is quality time. We have managed about a 50% savings rate because our salaries are high. + +The difficult part now is that it appears I'm stalling in my career. I've always been in a contributing role at work, but I'm now a managing director and basically "eat what you kill" compensation. I could make millions but I can also crap out and make very little. The guys who make millions at my firm have made HUGE sacrifices to do so - constant travel, workaholism, health problems, divorces, and regret that they didn't spend more time with their kids. I think I have it in me, but I'm not sure I want it. My wife's business is going well but not generating much cash flow at this point. + +We are not coast-FI due to high spending, but could easily be coast-FI if we get rid of our high cost of living. The problem is that this is VERY hard to do. It's easy to say to yourself "well, this works for now, but if we have a change in circumstances, we'll just make cuts" but it's HARD to do. The luxuries are actually the easy part - clothing budget, vacations, eating out - we haven't had any problem cutting those out. + +The hard things are the *convenience* items and anything having to do with kids. Sending your kids to public school from the beginning is fine. Sending your kids to private school and then pulling them out and putting them in public school is hard. Moving from a big, nice house to something smaller is easy to talk about but hard to do. Giving up a nanny or au-pair and putting your kids in after-school programs is hard to do. + +I suppose this is a cautionary tale. We have had a lot of lifestyle creep. We've saved a lot of money along the way and basically paid for the kids college and a nice retirement if we can let the money grow. But to make it there, we have to make deep cuts in our budget and it's not easy to do. + +--EDIT +Thanks everyone for your helpful and thoughtful comments. Gives me a much needed slap in the face and reality check. +IF you are buying LTC for the fork, DON’T. Charlie Lee (the creator of Litecoin) [has stated that it is mostly likely a scam and the Litecoin Foundation DOES NOT endorse the coin.](https://twitter.com/SatoshiLite/status/960197866546282496) + +The [Litecoin Cash Team](https://litecoinca.sh/#team) looks sketchy as fuck. Their public relations manager's photo is the fucking Unicorn emoji. You can't press on any of the developers pictures of find any information about them. + + +Whoever created the fork is a genius marketer who is playing on the similarities between Bitcoin and Bitcoin Cash (which [AFAIK was endorsed by Gavin Andresen](https://twitter.com/gavinandresen/status/929377620000681984\)) and others in the Bitcoin Foundation) and the branding of Litecoin. Don't fall for this trick. + +I’m not saying the recent price increase is solely due to the fork. In fact, I’d argue that a lot of it revolves around Litepay. However, if you are buying LTC as a short-term move, please move forward with caution (at least until Sunday). + + +Furthermore, if you think you’re going to “time” the market and try and sell immediately after the block which the fork happens on you’re going to get burned. Literally thousands of other people have that same idea, and what’s going to happen is that Litecoin’s price will decrease significantly right after the fork (I think it will recover due to Litepay coming out and other promising progress). The bots are going to beat you to it. You'd be much better off taking profits before the fork on Sunday and then buying back when it inevitably dips. + +**NOTE:** *I know a lot of you are probably aware of this fact. However, I am in a Telegram group of about 60 people mostly composed of friends from college and their mutual friends, and I was amazed to find that several of them were hyping up the Litecoin Cash fork. I’ve also seen on some daily discussions over the past week discussing it.* + + +*I do not own any LTC I am just trying to make sure people aren’t making poor investment decisions* + +EDIT: DO NOT GIVE THESE PEOPLE YOUR PRIVATE KEYS OR ANYONE FOR THAT MATTER. + +EDIT 2: Those of you saying I'm bringing attention to something pointless, good for you, just move along. Sadly there are people who will perceive this as the equivalent of Bitcoin Cash to Bitcoin and if they are left unaware that it is in fact not, they will get burned. + +EDIT 3: I'M NOT HATING ON LTC, THIS ISN'T MEANT TO DETER LONG TERM HOLDERS. If you're planning on holding long term then don't bother with this post. There are people trying to play this. +Hi, I have been lurking here for a while now. Recently I began reading WSB more, commenting, etc, because it helps numb the pain of my losses and adds some good laughs. My interest in investing in $ROPE has also decreased. I just realized that in my 7 years of "investing", I have never actually realized a profit. If my account had green, I'd always think let's enjoy some gains just for a day or two, and then it would tank as soon as I'd want to cash out a bit. This isn't even a casino at this point, I am simply just making charitable donations which are then gambled by other retards. I have even managed to lose money in real estate in Vancouver, where pretty much everyone and their wifes boyfriend has made money. + +I came to the realization that this is all a game and it could not possibly be real. The game isn't rigged, its fake! This must be a simulation. As soon as I click buy, the stock tanks, if I invest in a property the market tanks, even when I pick fruits/veggies at the market they expire instantly, when I hop in the shower the water turns freezing cold. Anyone else feel like this??? + +If 2 retards who are experiencing this did the opposite of eachother, would one of them make money? Or would this possibly end the simulation as both aren't actually allowed to make money? + +EDIT: Thanking you guys for the advice, I am staying away from the market until I learn more, even it takes years. Enjoy the soon to come record breaking market growth! + +EDIT: Thank you for the Awards and Karma, I have no idea what it is but hey atleast some numbers went up for once! +Fed Chairman Jerome Powell on Wednesday said the central bank intends to raise its policy interest rate by a quarter-percentage point following the end of its two-day meeting on March 16, despite uncertainties from the Russian invasion of Ukraine. + +“With inflation well above 2% and a strong labor market, we expect it will be appropriate to raise the target range for the federal funds rate at our meeting later this month,” Powell said, in remarks prepared for delivery to the House Financial Services Committee. + +Later, under questioning from lawmakers, Powell said he was inclined to support a 25 basis point move.Most economists had penciled in a quarter-point at the March meeting. Speculation of a half-percentage point hike has waned in the aftermath of Russia’s invasion of Ukraine. + +The Fed is expected to continue to raise rates throughout the year. Powell said he wanted to proceed “carefully,” which is likely a signal of further quarter-point moves. But the Fed chairman said larger rate hikes were on the table if inflation doesn’t subside. + +“To the extent inflation comes in higher or is more persistently high…then we would be prepared to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings,” Powell said. The central bank’s policy rate has been stuck near zero since the coronavirus pandemic struck in early 2022 to help the economy weather the storm. + +With inflation surging, the central banks wants — as the first order of business — to get rates closer to “neutral” or around a 2.5% rate, in orderly and regular steps. Powell’s comments Wednesday show the Fed doesn’t want to surprise the market with its policy moves. + +Powell told the committee the Fed will have to be “nimble” in its execution of monetary policy. The Ukraine war was a big reason to move carefully, he said. The Fed has a second tool to cool the economy — shrinking the size of its almost $9 trillion balance sheet. Powell said he expects the Fed to “make progress on agreeing on a plan to shrink the balance sheet” and the question of when to implement it “is not answered yet.” + +The Fed wants to shrink its balance sheet “in a predictable manner” primarily letting maturing securities run off of its portfolio, rather than outright sales, he said. + +[https://www.marketwatch.com/story/powell-signals-fed-will-raise-interest-rates-at-march-meeting-11646227825?mod=home-page](https://www.marketwatch.com/story/powell-signals-fed-will-raise-interest-rates-at-march-meeting-11646227825?mod=home-page) +The first, and most important, thing to consider with this is why gold was made illegal. You may think it was because the government wanted to ban an alternative to their new federal reserve notes, however, this isn't the case. + +&#x200B; + +During the roaring 20s, America was importing and exporting a large number of goods. The creation of the federal reserve note in 1913, meant that the government could pay its suppliers or any country it does business with these new notes. This made it easier to do business because there was no work in shipping the physical gold for payment. As such, the gold stayed in America but the notes were still redeemable for gold upon request of the holder. As countries continued to increase business with America they began to see themselves holding an increasing number of these new notes. Once the great depression started to take effect, countries wanted security and as a result, they wanted to cash in their notes and request their equivalent in gold. The problem for America is that they printed more federal reserve notes than the amount of gold they held in their reserves. They had multiple days of bank shutdowns, to stop a run on the banks, and in 1933 they made the possession of gold illegal... Why did they do this? + +They simply didn't have enough gold to settle swaps for their notes, however, these new laws also made the export of gold illegal. By doing this they also wouldn't have to meet their obligation of providing gold to those requesting it. Below you can see a spike in US gold reserves as a result of these new confiscation laws. + +&#x200B; + +https://preview.redd.it/k1jjlexz5ju61.png?width=2343&format=png&auto=webp&s=f6f56a789c51459dbb53ed334d6235148e6940ea + +The reason they were able to do this so easily and effectively is that most gold was stored in the banks. All banks had to do was give depositors notes equivalent to the gold they had in the bank. + +Since Bitcoin is almost, if not, impossible to seize and recover, it stands to reason that America is most likely not going to try to outlaw the possession of Bitcoin on the basis it can be used as a competing currency. + + + +You can find more lessons like this at [https://www.novorauniversity.com/](https://www.novorauniversity.com/) + +Hope you all found this helpful! +Hi, as a longtime lurker on here curious to hear your guys’ thoughts. Obviously we can all see the shitshow in the markets today, which prompted me to post this. + +YTD the Nasdaq 100 is down >20%. Across the wider Nasdaq the situation is worse in that big tech is holding up the index, with numerous mid-size tech companies down well over 50-60%. I realize the Nasdaq is still massively up from a few years back - but that could also be an argument for a continued decline/tech staying flat for a long long time afterwards (think about the number of years post 2000 it took for tech to recover). + +Also makes me wonder if we’ll see a similar post-dotcom effect where tech “stops being cool” in terms of working there, given for the last decade junior software engineers have been easily earning $200k+ through stock options/RSUs. Will that now end? I realize the contraction of QE has hit the whole market but tech has been particularly hammered. + +On the flip side, the companies in the Nasdaq 100 are nothing like the dotcom era. I was only a teenager back in 2000 but from reading up on it the majority of dotcoms were much more akin to Nikola, Lordstown, Contextlogic etc - ie companies in industries that would grow but the company itself had no realistic longterm future. Compare that to today when big tech companies are near monopolies and are endlessly churning out monster revenue and profits. Yet that doesn’t necessarily mean they won’t stagnate in terms of their valuations over the next few years given how much the Nasdaq has risen in the last decade. + +Or is this a fantastic buying opportunity, ie once the market adjusts to QE being withdrawn we’ll see a strong recovery rally over the next few months or in 2023? I realize no-one really knows what’s going to happen, but interested to hear your guys’ thoughts. +PETITION: Help Apes who don’t have a voted flair ✅ 🦍!! Every vote matters and taking 5 minutes out of your day to help an ape vote is priceless! Ape Together Strong + +(IF YOU HAVE VOTED AND DON’ T HAVE THE FLAIR RESPOND TO THIS POST WITH !apevote! ) + +IF YOU NEED HELP VOTING PM ME! + +Seriously, if you see apes without a user flair ask them if they have voted. Every vote matters and no ape shall be left behind on this journey to the moon! Edit 1: classic auto mod not enough characters, Please seriously help other apes vote, it costs you nothing but a few minutes and it will make a difference I promise! Apes together are strong!!!!!!!! (Hopefully that’s enough, see you idiots on the moon ❤️!) + +Edit: POWER TO THE PLAYERS MY FELLOW APES +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +This is a rant from an individual who considers himself an advisor and advocate for his clients. The first myth I would like to dispel is the idea that just because someone works for an RIA or is a fee only advisor they are not a salesman. + +Instead of looking for a FA, that is this or that, please just evaluate them on one criteria. Are they a salesman or are they there to advise you on your financial life. I know that this goes against the grain of everything you have heard but just keep reading. + +Just because you are working with an RIA or a fee only advisor you are not guaranteed impartiality. Sorry to burst your bubble but that is how life works. For example they will only sell you certain funds that pay a commission to the firm and the advisor. Oh.... you want to buy a vanguard index fund, nope not happening we have this A share fund and that is it. SEE LOOK!!!! we can only sell you certain funds and since they charge the same commission we are fulfilling our fiduciary relationship. THIS IS WHERE THE INDUSTRY IS GOING PEOPLE!!!! + +Ok. now you will say BUT if you just buy an S&P 500 index fund you will do better than most advisors and managers, follow Warren Buffet's advice. NO SHIT!! This is true and should be used by everyone. BUT guess what??? Most people are not smart enough or disciplined enough to do this. People hire advisors like me to keep them on track. To keep them grounded when the market turns bad. Mostly to keep them invested. Yes you heard me "to keep them invested." Your grandma or aunt that you want to take over the account and invest in VOO because you read on the inter-webs that it is the best thing since sliced bread. Guess what happens when the market drops 25%. She fucking sells out and does not buy back in for years. This is the reality of the situation. This is why most advisors will buy a growth moderate income fund or balanced fund, because guess what? Most people are OK with mediocre returns if they don't lose money in sharp declines. This is the real secret to the business. we work to keep people invested NOT make them the most money possible. + +* How do you select an advisor you ask. here is how. Ask FUCKING questions. +* Education: sociology major or English major, yeah fuck that guy +* Time in the industry: your cousin who cold called you, fuck him. +* AUM: this should be at least a few million if he is with an RIA, much more if a broker!!! +* Captive or independent: go independent all the way or get the shit "A share" funds. +* Ask them technical question. If they can not explain a PE ratio run or how a stock price is affected by a dividend then run. +* Ask for stock picks!!! No joke but don't buy them ( you will likely lose money). Because if they cant give you any analysis on a single stock why the fuck should you talk to this guy. They are a salesman nothing more. +* Don't buy shit from your CSR at the bank!!!! +* Will they work with your insert CPA, Lawyer, business partner? +* Speaking of that don't use your CPA or Lawyer as your FA. Conflict of interest. +* Beware of the old fuck who has 2 years experience but looks like he has 25 years in the industry. Usually overweight balding and wearing a J. Bank Suit from the buy one get three free line. +* Oh yeah the guy that seems to give zero fucks about you and your money. That is the one you want. Why??? because he does not need to sell you shit to pay his bills. He will give you advice based on your best interest not his. His car and mortgage are golden and do not depend on your $10,000 IRA to keep his BMW from the repo man. + +A few more things + +Whole Life insurance: FUCK WHOLE LIFE INSURANCE. This is the worst investment known to man. Buy term. Whole is a savings account with life insurance attached. + +Annuities: These get a bad rap but are great if you understand what you are buying. Most people do not. CD at 1% for 5 years or a fixed annuity at 2.4% for 3 years buy the fucking annuity. $200,000 in your MMA for the last 10 years thinking interest rates will go up. Buy an Index annuity for 7 years at a cap of 5%. Fuck you were not doing anything with the money anyway. See my point!!! + +Mutual funds: Just buy an index funds. There I said it. But really it is your best bet to make real money. If you can not deal with the ups and downs look to a no load fund from a reputable company with a fixed income component. + +Individual stock: The only way to beat the market. Also the quickest way to lose money. buyer beware. + +This rant is not geared to people who can invest for themselves. It is geared toward those that want to evaluate and Advisor without the sugar coating from someone in the industry. + +EDIT: Thank you to the persons who gave this post gold and silver. I thought when I made it that the post would be deleted before morning!!! I want to address a few things that people have asked the most and I will try to answer everyone's questions + +* Education: This pissed a lot of people off! I was not trying to say that if you are not an econ major you can't be an advisor. I was trying to give people a way of cutting out the BS of the industry. You need to understand how people are recruited. Many firms will take on about anyone who can breath and pass the series 7, then they put them in a room to do cold calls or go knock on doors asking for business. A great deal of the folks get jobs with the firm only to be exploited and to wash out of the industry. People with a business or econ background are more likely to work at reputable and legit firms that don't exploit you for your circle of friends or family. +* Fiduciary Standard: Everyone likes to make mention of this. Well.... what does this mean??? In the financial services industry it means that the advisor will not sell you one product over the other based on personal gain to the advisor. This is different from a suitability standard where you can sell whatever you want no matter the commission as long as it is suitable for the customer. How each firm deals with this is different across the board. RIA's for example will only invest your account under a Wrap fee usually 1-2% of the AUM. Commission based sales will remove low commission products so they can say that they did the best for you on their platform. What it does NOT mean is the advisor must do the very best for you and send you down the street if there is a better deal. IT ONLY MEANS THEY MUST DO THE BEST FOR YOU WITH WHAT THEY CAN SELL. + +&#x200B; +Hey, +I'm staying in Australia with a working holiday visa for 1 year. Worked at a company for 3 months as an individual contractor. I had to give them my abn, send them my invoices every week and pay the taxes myself. +I left that job 6 weeks ago and they still owe me about $6,500 (6 weeks). They're saying that they currently don't have any money to pay my invoices but I know that my ex co-workers got paid in the last few weeks (although some of them are also not being paid). + +What do I do to get my money? + +fairwork.gov.au states: "If an independent contractor doesn't get paid for an invoice they can take their own legal action or seek independent legal advice for help. We can’t enforce payment of unpaid invoices." + +I don't have money to get a lawyer. I'm barely surviving on my savings right now and I'm hopefully starting to work in 2 weeks again.. + +Would appreciate any help +As the title suggests I'd like to tell the landlord that I'd consider buying this property off him if he ever wants to sell it, although I'm not in a hurry. + +At the end of last year I emailed our agent saying this and within 12 minutes she replied saying the landlord isn't interested (sounds legit). This agency does leasing and renting exclusively, so if we were to buy it that's a lost customer for them. + +All we have is a name which doesn't come up in any google / facebook / linkedin / whatever searches. Apparently it's a super old guy, who I figure it sounds like will probably die before he sells, but it can't hurt to ask anyway. I just dunno how to contact him. + +Is there some public database we can look up? Some government record or something? +Hey, I’m 24 from Melbourne and recently built my first home… + +Now I’m considering a career change, due to realising I’m physically and emotionally over working myself, for 60k a year… + +Just wanting to know of some interesting/forgotten jobs that actually pay well… preferably those that don’t require years of university as I would not be able to afford years of not paying my mortgage lol. + +Thanks. +As the title suggests I'd like to tell the landlord that I'd consider buying this property off him if he ever wants to sell it, although I'm not in a hurry. + +At the end of last year I emailed our agent saying this and within 12 minutes she replied saying the landlord isn't interested (sounds legit). This agency does leasing and renting exclusively, so if we were to buy it that's a lost customer for them. + +All we have is a name which doesn't come up in any google / facebook / linkedin / whatever searches. Apparently it's a super old guy, who I figure it sounds like will probably die before he sells, but it can't hurt to ask anyway. I just dunno how to contact him. + +Is there some public database we can look up? Some government record or something? +Looking to build a solid financial future + +30yr old on 52000 a year with no immediate debt (bachelors degree part-time). + +$2000 in a spaceship ( new account ) + +$2000 in secondary savings. + +$9000 in emergency fund (0.3%). + +The super account is below the recommended level for direct age but around the average for age bracket 29-34 + +Rent is 25% of the weekly income. Looking to Salary Sac $40 PW into super and add $25 PW into a spaceship + +What can I do to improve my likelihood of a prosperous financial future ? +In my silly panic of being verbally told I'm potentially going to be made redundant, I accessed corona super to set myself up for being jobless and got rid of some debts in preparation. In the end I ended up keeping my job - which is amazing and I'm super happy. I know I should have had the paperwork in hand before applying. I feel very silly. I'm wondering what to do? Really upset and stressed about it as I don't meet the requirements and never will. Any thoughts or recommendations. Anyone else had a similar situation? I'm an honest person hence I'm super stressed about future potential outcomes with the ATO. +Hey, I’m 24 from Melbourne and recently built my first home… + +Now I’m considering a career change, due to realising I’m physically and emotionally over working myself, for 60k a year… + +Just wanting to know of some interesting/forgotten jobs that actually pay well… preferably those that don’t require years of university as I would not be able to afford years of not paying my mortgage lol. + +Thanks. +Kind of new to this. Just wondering why can't I just live off dividends? If I start to put 30k per year into an etf, in 30+ years time it will have compounded enough to turn into 'income' so that I'd be able to live off. Wouldn't that be like 20k p.a? Is this a bad strategy? Please guide me. +Hello all, first time caller, long time listener. + +My wife and I have been thrust into a less than desirable situation where we are now needing to buy a home quickly. We both have car loans (both are at 1.99%) she owes a little over $8000 and I owe a little over $11000. These are 2017's and we pay roughly $500/mo for each. We also have about $11000 in credit card debt between 3 cards. My wife and I argue on which to do first - we have about $6000 before our tax return (will will likely be around $1500) that we can either put towards our credit cards or put towards her car and potentially have it paid off in 3 months freeing up $500 in monthly income OR put that towards our credit cards since they have the higher interest rates. + +What say you?! Honestly, I could use all the assistance y'all have. Been a rough few weeks. + +&#x200B; + +EDIT: I want to thank everyone for all of their insight, I didnt expect this to blow up like it did. Credit Cards are coming first, as you have stated. We are also going to look into trading our cars in for used ones that would zero-out our existing payments with a trade. Thank you all for the help!!! + +EDIT2: thanks again for everyone’s input, and especially for the suggestion of the unbury.me site. That alone is going to help us out significantly. With y’all’s help we have everything properly planned out and have made some changes. Thank you!’ +I’m on a salary and I feel like I’m in such a rush to buy all the cryptos I believe in before I “miss” them. + +Can anyone relate? + +Someone give me some advice to calm down the urge to buy them. + +I just need to implement into my mind the fact that all the good coins slowly but surely rise and investing anything is better than nothing. + +Edit: + +Thanks for all the replies. Hope this helped some others too. + +I’ve been diagnosed as having FOMO. Thanks guys. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Back in 2021 when Bitcoin was on its bullrun, I thought those who bought at 3-10k were so lucky. Now that I’m experiencing my first true bear market, I can see that they deserved what they got in the bullrun. The fud, the overwhelming bearish sentiment, and people calling you stupid for buying bitcoin cus it’s a scam and going to zero. When Bitcoin sees it’s next bullrun, please don’t call those who bought/accumulated at these prices lucky. +This has taken a long time to feel. But I want all of you to get rich. + +BTC purist? *Get those gains, poppa hodler!* + +ETHhead? *May all your decentralized tech change the world.* + +Oh, you're into ADA? *To the moon.* + +DOT? ATOM? *MOONMOON.* + +VET, FET, VRA. *MOON MOON MOON!* + +DeFi cloud storage? *MOON for all those coins.* + +NFTs? *Fuck it, I hope the artists you support* ***AND*** *you make incredible profits.* + +I used to want some projects to fail because I got burned by them. But at this point, I just want us to all make gains. + +We're humans, many of us are probably looking for financial freedom or financial security through investments. Many of us are probably making longshots with a dream of one day being able to better our lives or our families. + +**We're just people.** + +Hell, you hold DOGE? I hope that even you make great gains. + +You hold some hyper-deflationary hype coin like SAFEMOON? I hope you 3x your initial. + +I WANT YOU ALL TO SUCCEED IN YOUR FINANCIAL GOALS. + +I understand warning others about the age-old traps. We need the old heads to give us the sage advice when it's warranted. + +But from now on, I'm committed to not laugh at or cheer on our brothers' and sisters' losses. We're just people. + +Missed gains will still hurt, tanked investments will still devastate. But let's let the prices do the emotional harm, not us. + +In the Shakespearean words of the contemporary poet DJ Drama: w*e in this bitch together.* +I started investing in Crypto a few months ago, without having any clue what it is and what it does. I indeed have no friggin idea. + +I have invested around 5k so far and still have no clue. None. + +I even told my friends about it and advised them to start investing. When they asked what Bitcoin or Ethereum exactly is, I told them it's complicated (well it is, right?) and to do their own research. I congratulated them with the look of a wise, experienced and knowledgeable Crypto veteran when they then started investing. They think I'm a genius. + +I just have to keep saying how important it is they do their own research, so I can keep this charade up. They believe everything. + +It works. I am a genius. + +&#x200B; + +If my friends find this post: hahaha just kidding my guys haha +*When reading this keep in mind that I'm* ***not*** *talking about the next few years but about a much much wider timeframe. I also expect a wave of downvotes but if you have constructive criticism I encourage you to write it.* + +A lot of people throw around the 100k TPS of Ethereum 2.0 and how it'll solve scalability forever... but the reality is not that simple. Let me expand on this: + +Ethereum 2.0 will be split into 64 different chains (all kind of equal to the current Ethereum) that connect to the beacon chain to improve scalability. The high TPS numbers that are thrown around are in theory a combination of all the shards running asynchronously + layer 2 solutions BUT the assumption here for 100k TPS is that all the load on Ethereum will be split to fill equally all shards, which is not realistic, let me explain why... + +The biggest issue with this architecture is that interoperability is kind of thrown out the window, for two shards to interact with each other they first have to go through the beacon chain and that takes about 6-12 minutes due to security which means that everything that needs synchronous and instant interoperability with everything else will be forced to go into the same shard which means that they will be bottlenecked by the shard's slow speed (less than 40 tps on chain, maybe 1-2k tps WITH layer 2 scaling). + +At this point you'll say that "*2k tps is super scalable, Visa is doing that much on a daily basis*". That's wrong. We shouldn't compare smart contract platforms that are supposed to be the backbone of the Web3 with simple payment processors like Visa. Smart contract transactions can be triggered automatically and they can in turn trigger tens or maybe hundreds of other transactions, a smart contract platform is insanely more demanding than a value transfer protocol like Bitcoin, Monero, Nano etc. + +A better example are the Nasdaq Markets which ACTUALLY handle at least [75000 TPS](https://www.forbes.com/forbes/2009/0112/056.html?sh=191df3177cc7) of orders, cancellations and trades continuously and scales to 250000 tps if needed. How can we decentralize JUST this one exchange on an Ethereum shard in a future where Web3 will have a billion users? + +I'm not here to break your bubble, Ethereum 2.0 will hold up for a many years without big issues and it will onboard millions of new people into Web3, but it will not be able to be the backbone of the new internet by design. + +Ethereum 3.0? +This should be a comment and not a post but fuck it, I have to get this off my chest. + +We're in a battle here. I've battled for 20 years now. I've lost more than I ever thought possible and it was then, at my lowest point that I found out what the hell courage is. We're in a battle here and this time I'm not alone. + +If you're reading this stick with me for a second I'll make my point. At the age of 22, I was wrongly convicted and sentenced to 10 years in New York Sate Prison. To say I was unprepared for this would be a huge understatement. I was never a criminal, my grandfather was a New York State Supreme Court Judge for Christ sake, I was raised in a healthy, successful family in an upper middle class area of Long Island. I was a star athlete, a strong student, I went to University and in the blink of an eye I was in Sing Sing, one of the worst prisons in America. What put me there was truly a criminal conspiracy and almost no one believes my innocence to this day but as far as I'm concerned that matter is put to rest. + +What did I do in prison, I fought back, physically and mentally. I put myself through college (hadn't gotten my degree yet) and when I say put myself through college I mean that, it wasn't offered in the jails they sent me to so I reached out to Ohio University and enrolled in their Correspondence program at my own cost. The materials were mailed to me, I worked at night as everyone else slept and I absorbed everything. Information was my oxygen. I had to coordinate my exams with the education supervisor at every prison I was transferred to and they couldn't be bothered half the time. I had to fight to schedule my tests. I never spoke with a teacher, I was taking the same courses as the students at University but I had what they didn't, no distractions, just laser focus and a thirst for knowledge. + +Graduated with a 3.8, simultaneously wrote a novel, a children's book that I finally published and dedicated to my two amazing children. I worked out like a maniac. Went in 165 soaking wet, came out 225. When I walked in the county jail at 22 years old, the skinny white boy was a target, by year four nobody was fucking with me. + +Came home in 2011 and grinded my ass off. Worked with my fathers small business and brought in multi million dollar accounts within two years. A funny thing happened, my first few orders were met with praise, then jealousy kicked in. "How is he doing this after 8 years in prison" they'd think, why aren't I doing what he's doing, how is he outcompeting me? Most people see incarceration as lost time and they see you as damaged goods when you're released. That's the case for many but some of us find in that isolation the greatest gift of all, time to think, to really think, to follow a thought to its conclusion and to challenge the new questions created in the wake of said conclusion. Many see the markets as a rigged game with no real chance to fight the powers that be, but some of find Superstonk and the information here is our oxygen. + +I worked, I succeeded beyond everyone's expectations but the resistance to my success was taking a toll on me, it felt like a lose, lose situation and I was on salary, no commission so those monster orders I was bringing in didn't have any material effect on my financial situation. The promise was that the company would be mine and my two partners one day. We waited, tensions broke out as the carrot being dangled kept being pulled from us. We were finally offered to buy the company at an inflated price with a 10 year note to pay it back. We had no choice but to accept. We paid it back in four but the relationship between my partners and I was broken. They blamed me for my fathers actions and they were just as put off by my success as everyone else. The seeds of distrust had been sown. + +I just sold my 1/3 share in that company to a third party after a grueling one year negotiation process where they tried to get me to accept an absurd amount of liability for variables out of my control. I didn't give in, I held. On January 8th we finally signed the deal for $2.5 million. + +It was never easy and it still isn't, the general perception is that I was given the job, given the company and earned nothing. Again, "how could this guy spend next to a decade in prison and do so well, he was given everything." Nope, I earned every dollar and more, I fought hypocrisy, jealousy and downright duplicity and made much more for that company than I took out of it + +I've already started two new companies and I'm right back on that grind. + +A week ago I received my first payment of 556k, I'm already an X,XXX holder, might just become an XX,XXX holder soon, I'm all in on this fight. So hedge funds, market makers, the DTCC, SEC, MSM all of you ... get this through their heads once and for all. We fucking hold. When times are tough, we fucking hold. When all seems lost, we fucking hold. When the thieves twist our truths to make a trap for knaves, we fucking hold. + +GME is my spirit animal, cheated, manipulated, misrepresented, stepped on by the powers that be and criminally shorted. They tried to break it, to kill it to pad their expense accounts and maintain their control but GME DID NOT BREAK, at its lowest point, GME found courage. GME found Deep Fucking Value, GME found Ryan Cohen, GME found DLauer, Atobitt, all of us and together we breathed life into this "failing brick and mortar company." Now we're about to change the internet forever. + +We're at a moment here, I can feel it in my bones, MOASS might not be triggered tomorrow or on earnings, or next week but we're close, the stars are aligning, RC does not reference shorts directly unless he's beyond comfortable with the position he's maneuvered our beloved company into, he's too goddamned smart for that. I have the same feeling I had when I discovered I'd earned 6 additional months off my sentence for completing my degree along with a number of other factors. Instead of being seven months from my release I was now one month away from the freedom I thirsted for for eight fucking years. It was a wild sensation when that. letter came in the mail, I read it a thousand times if I read it once. I feel now what I felt then, the same anticipation, excitement and a clear sense of purpose and pride because I fucking held, they didn't break me, I took my freedom back and I built myself into a force in the process. We're doing the same damn thing together. + +We all have our own stories, our own struggles, our own personal history too complex to ever really communicate and that's what makes us individuals, and yet each and every one of us is still here, still holding, still adding, still DRS'ing, still fighting and just refusing to let go because we know what we have. We don't give up, we're going to make you give up, you've never met us, we're the people you thought you'd tricked into submission. We've seen through your lies from day one, we were just waiting for our opportunity to use your hubris against you, and here we are, the idiosyncratic GME. + +This is not our get rich quick scheme, this is a battle for the very soul of our financial system, our nation and, at the risk of being hyperbolic, for humanity itself. They placed the same bet they'd placed a thousand times before, a bet that couldn't miss but there was one variable their algorithms couldn't account for because it never existed, the will of the "common man" to rise up against tyranny and oppression if just given the slightest glimpse of a chance. Machiavelli said to never let them see even a glimmer of light, they'll rip the fabric piece by piece and eventually find the sun. The fabric is ripping, the light is upon us, keep ripping at that fabric, take back the sun and the world will bathe in its light. + +It's late, I'm tired, but I'm not going to sleep. Let's fucking go... + +Edit: Haven’t had a chance to reply to these amazing comments, love you guys, this is one hell of a community. +My wife has a 401k with a 5% employer match. After she puts in 5% to get the full employer match, she still has 6k/year left that we can afford to invest. Should she put this additional 6k into the 401k, or should she open an IRA and max that out? Does it make a difference? +My brother just asked me if I would be interested in buying a 2 family house split between him, his gf, our mum, and me. Would this be considered a good opportunity? I'm worried that as a 23 year old who's yet to really start their career (I'm currently a research assistant and who plans to pursue a PhD in counseling psych) and who really doesn't have a sure idea of where they want to live for a substantial amount of time, that this is a big commitment. I thought about the ways this would be a pro like having security in housing in case I do lose my source of income. But it is also a big money commitment...and I have no clue about managing real estate either. I also have around $12k in student loans (3-4% interest) that I've been paying off. Could anyone suggest a blog, YouTuber or book to help me make a educated decision? + +Just to add, I'm not worried about my bro separating with his gf (I'm expecting a niece in July!). I'm mainly worried about money and the commitment. Additionally, I live in an area where houses are pretty expensive, say $700,000-1,000,000 range +I (16F) just got my first paying job, and I'm excited because its something I genuinely enjoy in a good workplace and for logistical reasons I should be able to continue throughout college. I make 10-12k per year (mostly summer hours), so I could earn \~70k by the time I graduate college even if I don't get promoted. + +My parents are paying for undergraduate school, including food and living expenses (I am very fortunate). The only major expenses I forsee are \~200$ per year on misc. items, \~10k for a used car, and eventually grad school (masters in a science field). + +**What can I do with my money over the next 6 years to increase my wealth?** I am not prepared to do anything super complicated, but I want to make sure I am setting myself up well to be financially independent. + +Thank you! +I hear a lot of people saying this but to me it ends up working against me and I’m left holding a losing stock. Whereas if I sell everything and wait for it to dip further I can buy back in and win more. Thoughts? +Can y’all stop freaking out about computershare - even if you can’t sell above a certain limit this is incredibly bullish - + +If I can’t sell above $220k or whatever it is. Then I can DRS a real share back to fidelity or e trade or whoever and sell it there during moass + +It’s fuddy apes - DRS is how we win. I’ll worry about selling when it’s $100 mill a share - + +Too much computershare FUD - cs is how Apes win and should be viewed that way. + +EDIT - you can sell at higher price by phoning or going to computershare office. +coinbase seems to work fine, "not your keys not your bitcoin" but I trust coinbase more than I trust myself not to lose a hardware wallet in 10 or so years + +EDIT: Wow, this, um, attracted a lot of thoughts. Thanks for the constructive discussion - interesting to see everyone's opinions, seems to be a lot of people who don't trust exchanges, and that makes sense, but a history of losing valuable stuff leaves me with my original post. +I'm 26, a woman, and I've been working at a government office for three years. I've never been disciplined and my attendance/sick record is good. I've been part-time as I'm also studying for a masters. + +Due to coronavirus there's been an influx of new staff and basically I've been taken off my normal job to train them. The two people sitting either side of me are both doing a very similar role and were both given a temporary pay rise. I applied for a role that was originally presented as a promotion, did not get it, then was effectively put on the same duties. I am the only person still on site who did not get the pay rise and people have been asking me about my wage/getting slightly offended on my behalf. I want to say something but I'm worried about how to frame it. I don't really need the money but it's demoralising to know it's just me and it's made me start looking for other jobs. I've had a decent bit of positive feedback which I've kept hold of, as well as training I've designed and given off my own back, which was over the expectations of the role. My manager is currently working from home. What do I do? +You knew they would pump crypto before GME went to the moon. + +Why would DOGE randomly get pumped and blasted on the front page of reddit? + +Why would Robinhood have articles about "Recent GME news" about DOGE of all things? + +This. Is. A. Trap. Boys. PLEASE DON'T INVEST IN DOGE. + +I like the stonk a lot. I'm buying more as soon as I submit. That is the way. + +Edit: Please upvote to fight the downvoted bot army. I need you apes 🚀🦍🚀🦍🍌 + +Edit 2: Coinbase IPO is pumping a bunch of crypto. That still doesn't explain the attention MSM/Twitter is giving it on GME pages. + +Edit 3: CNBC feature on crypto w/ that fat +40% DOGE on the side lmao. "oh-oh please don't see gamestop's rise" +I'm wondering what my current best move would be to take advantage of current market growth. I've decided to play it safe and just dedicate my Roth to a three fund at the moment until I have some more capital invested, but I also want to play and learn a bit on the side. Should I stick with ETFs for now or gamble a bit with individual stocks? I currently have about $700 invested in MSFT, CSCO, and SPCE. As well as a ESPP with HLT, which I will use at first to max out my Roth than put the rest towards my individual account. + +Any input is greatly appreciated! + The Senate passed legislation on Thursday to raise the debt ceiling through early December, after a small cluster of Republicans temporarily put aside their objections and allowed action to stave off the threat of a first-ever federal default. + + The final vote was 50 to 48, with Democrats unanimously in support and Republicans united in opposition. It goes next to the House, where Democratic leaders were prepared to call lawmakers back for a vote. + +[https://www.nytimes.com/2021/10/07/us/politics/debt-ceiling-senate.html](https://www.nytimes.com/2021/10/07/us/politics/debt-ceiling-senate.html) +…I am taking the written CDL-A exam tomorrow! Start school for driving on Monday - thanks to my state’s retraining program. + +Worked in offices and sales all my life. Decently educated, but after years of struggling to get ahead and playing office politics, I am ready for a career that actually earns. + +Excited and nervous. It’s a huge departure. + +I became unemployed from my last position after a relentlessly hostile work environment basically caused a breakdown. I lost my apartment, was steps away from living in my car. +Unemployment insurance in my state works with WIOA. They provide living costs, and pay for retraining in some fields. +So I recently started a job where part of what I do is taking out and entertaining clients. I am expected to front the money for this and then I am reimbursed on my next paycheck. Unfortunately I find myself in a position where I have some upcoming events that I may not be able to cover which will lead to an extremely embarrassing situation which is not acceptable. So I need a loan of $500-$1000. + +It is a small company so getting a company CC is not an option. I would also rather not inform my employer of my current situation. Soon I will be getting paid enough from commission that this is no longer an issue but for now it is. I also did some pretty big damage to my credit due to a couple of small loans that went into collections while I was unemployed so getting a loan through my financial institution is also not an option. These debts have since been paid off but obviously the damage remains until I can rebuild my credit which I plan to do soon by using a secured credit card for my business expenses once I have enough to put towards it. Since these expenses are reimbursed monthly I can just automatically pay back the card every month. + +So I'm thinking I need to go get a payday loan from one of those shady looking places. How dangerous is this if I can pay it back within a month? How should I choose where to go? Are there other options that are "safer" that I am not thinking of? + +I have a whole plan (thanks to reddit PF) to get my finances back in order by the end of the year but for now I'm stuck and need this extra cash by next week. Any help or advice is appreciated. + +Edit: I don't know why some of you assumed I was a woman. There are all kinds of things I could read into that but for now I'll just laugh. Also my company is far from shady and paying your expenses out of pocket to be reimbursed is a very common thing in my industry. In fact most people love it because they get all of the CC rewards that come with that spending. I just happen to be in a unique situation where I started the job tapped out based on some previous circumstances I won't go into. Thank you for the advice though everyone. I will try to find another way since it is not that much money. + +Edit2: This is by far the most successful posting I've ever made on reddit which somewhat saddens me but at least more people got back to me on a serious issue than any of the other dumb shit I post. I've figured out an action plan that does not involve a payday loan but I thank all of you that got back to me with your constructive thoughts and insights. + + +Let's face it, the vast majority of traders across the spectrum prefer to trade rallies. The price action is more consistent and it puts everyone in a great mood. The economy is doing well, portfolio values are up and people have jobs. After a nasty start to the year we would like to think that the worst is behind us. Technically, the market looks great and we have been nailing bullish trades left and right. This is like the first warm day in Chicago after a cold winter and it feels really good. + +Some of you will be tempted to start taking overnight longs aggressively. It is still too early and I suggest you stick with very short term trades and wait for confirmation (follow through). Here's why. + +&#x200B; + +[Lots of technical reasons to be bullish](https://preview.redd.it/auij2fgbl4d91.png?width=1064&format=png&auto=webp&s=721144cda1e28317444f3a036acc27084fab0e8e) + + + +On a day trading basis, we don't have to worry about fundamentals. We trade what is in front of us and we keep our overnight risk at a minimum. When you lengthen your trade duration, fundamentals do become more important. There will be some of you who are tempted to "back up the truck" and load up on bullish overnight positions based on what you see right now. I wrote this post to shed light and hopefully to keep you from making a devastating mistake. + +**Has the Fed stopped raising rates?** No. In fact, they are going to raise rates next week. Some projections are as high as 100 basis points (75 likely). Yesterday the ECB hiked rates by 50 basis points and that was more than expected. + +**Have we felt the impact of the rate hikes to this point?** No. We will not know the impact of higher interest rates for a few months. The economic data points will be very important in Aug/Sept. + +**Has inflation subsided?** No. There are some signs (mainly energy) that we might have climaxed, but that is a far cry from seeing a decline in prices. We just came off of the highest readings in 40 years. For the last year we've heard that inflation is temporary and it continues to surprise the Fed. + +**Is China strong?** No. The second largest economy in the world and the global growth engine the last two decades is "on the ropes". They are still in shutdown mode because of Covid-19 and we can expect more supply disruptions. Property developers are defaulting, people are not able to access deposits at rural banks, home owners are not paying mortgages on new construction at the risk of ruining "social credit" and funds have been selling Chinese bonds for a record 5th month in a row. After decades of hyper growth, China is my biggest market concern long term. I smell a rat and I suspect credit issues will surface. + +The list is long and I could continue, but I won't. These issues need to be resolved and it will take time. It is typical for the market to rally into earnings season. Big tech companies will announce earnings next week and after that, "the air will be let out of the balloon". The Fed will hike rates and they will vanish until September when another rate hike is expected. The rat population will decline in DC as politicians take recess. The country will be on "auto pilot" and the issues I have outlined will fester without anyone at the helm. Trading volume will dry up and we will be in a news vacuum for weeks. + +So I must be bearish - right? I do believe that the market will test the low of the year. Depending on how things play out, we might even take it out. I am not positioning myself for a big drop, but I am very ready to trade it if the price action deteriorates. I am certainly NOT loading up on longer term bullish positions and that is what I want to discourage you from doing. This is how accounts "blow up". + +The strong technicals we are currently seeing were also present in March. Look at how similar the chart below is to the first chart I posted. All of the same technical breakouts were present (I copied and pasted the blue box). From that peak to the next low the SPY dropped more than 15%. Longer term swing traders who bought on those strong technicals took a beating and they fueled the market drop when they bailed on their positions. + +The recent market rally came on low volume, just like the bounce in March. These moves look great on the surface, but buyers have a low level of conviction and this bounce can easily be reversed. + +DON'T LOAD UP ON LONGER TERM BULLISH SWING TRADES. + +To complete my metaphor, it is only March in Chicago and we can still expect cold weather. I hope this posts helps you avoid a costly mistake. Stay short term with your trades. The time for longer term bullish swings will come, be patient. These issues need to be resolved and we do not know the outcome. When we see stacked green candles consecutively on heavy volume, we can start taking longer term bullish trades. + +&#x200B; + +[ The technical back drop in March looked great. The SPY fell more than 15&#37; after that ](https://preview.redd.it/ugiv8hxml4d91.png?width=977&format=png&auto=webp&s=8db5b21def3d9250ff2d8e64ee9dabe7d71b1498) + +Friday got in with PHUN at 8ish once market opened because IDK that I could buy in pre market. Bought 128 shares and hit 18 after the halts and I’m such an IDIOT that at that moment, I’m starting at OTH 24, without taking my huge profit. Next thing goes down to were I was, sold at 8 and bought again 100 at 11 to get that MF! I’m holding my 100 shares. At this point I think I’m setting myself to God know what, but won’t sell under 15. FK IT!! +I HOPE I LEARNED THE LESSON. +Greed is goooood😂 +Question, if I see in pre that hits 14,15 can I sell and get that price? +Because with my luck if I wait till open might hit $2 +I just did some research on VWAP and even though many people work off VWAP, it is very different between platforms. On PALT this morning, IB had it at 11.91, Webull at 12.18, Fidelity at 11.87, NinjaTrader at 11.76, Medved Trader at 12.10. Three are close to each other, and another two are close to themselves. I think it is when the calculation starts, but just using defaults, traders are going off different VWAPs. + +Has anyone else compared VWAPs and found out which are most commonly used or know why they're all different? + +Everyone says they're buying off VWAP, but since they're all different, not everyone is looking at the same thing. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +So you woke up this morning and you're portfolio showed nothing but red, maybe a few green sprinkled here and there. Maybe you feel like no matter how many hours of DD and work you put in everyday, nothing seems to work. There is no need to feel bad today, everyone is going through what you are going through right now. Today is not the day to panic sell and lose potential profits. Today is a day to take a break from constantly looking at stocks, this thread, stocktwits, twitter, and screeners. Today try learning something new, or start a new TV show or watch a movie, or call up some friends or family you haven't spent time with lately. Just do something today that doesn't keep your head wrapped up in the market. It is really easy to start stressing out about the market, but remember as easily as the market dips it rises as quickly too. You believe in the stocks you've invested in, they will pay off soon enough. Just let the market do its thing, have a great day y'all. +Ever since buying my first shares back in January, I have been waking up at 6 so I can have my coffee and be settled and ready for market open (I live on the west coast). +Even when it became apparent that trading sideways and max pain was the foreseeable future, I would still get up early, just cause you never know, and I didn’t want to risk missing the start of something exciting. + +However, the lack of sleep is finally starting to catch up to me, and as such, tomorrow I will be taking a chance, and I will be sleeping in until 7. If we start to squeeze tomorrow, you can all thank me for it. I am the catalyst. + +🚀🚀🚀🚀 + +EDIT: I’M SORRY EVERYONE, I SLEPT IN AND BROKE THE MARKET, WON’T MAKE THE SAME MISTAKE AGAIN +The title basically says it all. + +Kenny and Co can suck on my balls. + +Soon, Citadel and the banks will fall. + +Retail's wealth will grow from little to large. + +Rocket taking off soon to the moon past the stars. + +Going straight past mars. + +Soon, retail will build a new system, and finally, be able to call the market ours. + +&#x200B; + +Said you closed your shorts, but the data proved that was a lie. + +No sell until Kenny is locked up inside. + +Buying, Hodling, and DRS'ing GME until I die. + +GME apes, ain't nobody that is quite as fly. + +Not sure when we will lock the float, but if I have to do it myself, I will try. + +This is the end of this post, much love, and goodbye. <3 + +&#x200B; + +P.S. DTCC committed international securities fraud + +P.S.S. Market makers, bankers, and hedgies are fuk + +\*edit, fucked up one of the lines lol + +https://preview.redd.it/bfr1c06rt3v91.png?width=812&format=png&auto=webp&s=aa7e177ae7df7040305762a2a8e4749ddf6e77c0 +Hi guys, + +I have been in construction my whole working life and I have been talking about moving into the IT/TECH industry for 2 years now without making a move!! + +I was wondering if anyone has any advice on any paths I should take first? I have been reading alot about shortages in the IT industry and I believe with such a rapid growth in the future now is probably the best opportunity I have to begin an IT career. + +Currently I am on 100-140k a year depending on overtime in Adelaide. We currently work an average of 60hrs a week. I am wondering what sort of pay cut would I be taking for an entry level position? Is there anyway I can study and still work fulltime? What are the better IT industries to target? What should be the first step to take? + +Any advice is greatly appreciated, I feel as if this group was the most sensible to ask. + +Thankyou +I saw this come up on Ozbargain. I'm looking for a HISA currently and this seems like a good option for 4 months with the introductory rate, then move elsewhere. Has anyone had negative experiences doing this? Seems like there aren't any hoops. + +&#x200B; + +[https://www.macquarie.com.au/everyday-banking/savings-account.html#modal-open-account](https://www.macquarie.com.au/everyday-banking/savings-account.html#modal-open-account) +Not to sound dodgy or tax evasive but I’m just wondering what sorts of things I can claim on tax deduction as a University student. I recently bought a pair of noise cancelling headphones for uni as I study online and am wondering if they would be eligible for tax deductibility? +I have not very much in super as I’m 22 and about to graduate uni. Maybe under 5k I think. + +Aside from contributing the compulsory amount to super, is there anything else you MUST do? Obviously most will want to buy property one day, but I am thinking about other investments such as the various ways to buy stocks, contributing extra to your super, or just straight up saving more and locking it away in a separate account. + +How much does pension play into things? Does pension come form then government, your super, or a mix of the two? + +I would like to retire when I’m around 65 and have a nice standard of living so I understand I’ll need about 1 mil. What’s the best way to achieve this? +So basically I am looking at spending $10,000 on solar (bought a new home, $10,000 rebate as part of NSW's new home grant - I realise I could put it/some into other places like EFT's, Holidays etc but I try to budget for these and am thinking I want to use this windfall wisely.) + +&#x200B; + +I've had a bit of a look around and have learnt a few things, like micro-inverters are better than string-inverters. However, there seems to be a lot of noise clouding the other decisions. + +&#x200B; + +First Question - Do I need to spend $10,000? - I realise I can do a $5,000 system, or other amounts, but am happy to spend the lot if there's a benefit. If I'm just wasting a portion and there's no point than of course I don't want to spend it. (My annual Kw/Day usage for the last two years has been around 18kw/day. Currently have 0 kids but am planning on a family soon) + +&#x200B; + +Second Question - Low/Medium/High quality. Happy to buy best quality if it's worth it, I like the idea of set & forget. But don't like spending money on a brand name for the sake of it. + +&#x200B; + +Third Question - System options, as far as I can see my options are: + +a. $10,000 on Solar and Battery option (Both me and my partner work 9-5 so leaning towards a battery, but with kids expected that will probably change) + +b. $10,000 on pure Solar + +c. $5,000 on Solar now and hold onto $5,000 for a battery once battery technology improves a bit + +d. Are there any other reasonable options to consider (solar hot water systems?) + +&#x200B; + +Any other insight is also welcome :) +Most people trust MtGox. It's the oldest exchange, was the most mentioned in the media. Their press release is pure bullshit but it's a subject that's way too technical anyway for most people to grasp. We need other big players to step up and reassure people, or this could be the death of Bitcoin. +I invested $250 into Bitcoin and plan to dca a little bit out of my paycheck every two weeks! + +-18 years old, making $15/hr at retail store + +Edit: I have $2500 in savings and $400 in a mutual fund through custodial Roth IRA +A congressman on Friday called for the Securities and Exchange Commission to investigate the leak of a video showing physicians at the University of Chicago speaking enthusiastically about an experimental drug to treat Covid-19. + +Texas Democrat Rep. Lloyd Doggett, chair of the House Ways and Means Health Subcommittee, said the leak was "so significant" at a time when the world is "so desperate to find a cure." + +https://www.cnn.com/2020/04/18/us/sec-investigation-request-coronavirus-drug-leak-remdesivir/index.html +https://www.sun-sentinel.com/local/broward/fl-ne-tax-auction-leaves-buyer-hurting-20190615-d573l2aw7nbk7hgf4y2d36qcoy-story.html?fbclid=IwAR3MRR4Pnhn91nC_j4QNAIU5P2j-rYD-p__Vttg12RzQgLgs3_Pa66_JcYg +Even though I pay health insurance every month it still costs me $100 just for a consult with my doctor. I’ve been having some stomach issues and had a dream that I met with a doctor and he gave me some tips. I’m gonna try what he said in the dream and hope it works out. +So I recently found out I'm pregnant (!!) and due in March. It's a planned pregnancy, but due to my age I genuinely thought if would take more time. + +We have 30k saved up as a house deposit. We live and work in London, so this gets us exactly nothing. I'm ordinarily freelance in a field with a lot of work, but fortunately took a PAYE contract about six months ago. + +We are strongly strongly considering a 95% mortgage for a few reasons. One, once I've gone back to work I expect childcare will demolish our ability to save a larger deposit. This also means we won't really be saving, and I like the peace ofind of knowing that at least we're paying off our own home. Once we get kiddy out of childcare my loose plan is to start overpaying on the mortgage. Two, just emotionally I feel weird about bringing a kid home to a rented place. This is not rational but it is a consideration. + +Im more than aware that there are things I'm not considering. What are the red flags in our plan? +I bought a car (Volvo S40, 2012 reg) last year for £5k. I took out a loan to buy this bad boy. The loan was actually for £6k as I needed other bits and bobs at the time. + +I have no found out the car is has a value of ~£7k + +I have £5k left on my loan. Should I sell it, pay off my loan and then buy a crappy car for the £2k I have left (theoretically of course). + +The problem is, the car I currently have is really reliable and economical. It's £0 tax and the MPG is good. Not to mention that it is built like a brick-shit house. Only problem is that it is a Diesel so I'm thinking in the next few years it might be worthless / lower due to the scrappage scheme. + +Thanks! +https://www.reuters.com/article/us-wework-softbank-lawsuit/wework-sues-softbank-for-dropping-3-billion-tender-offer-idUSKBN21P1RF + +> A WeWork board committee that negotiated a $3 billion tender offer with SoftBank Group sued the Japanese conglomerate on Tuesday for abandoning the deal, accusing it of succumbing to “buyer’s remorse” amid the novel coronavirus outbreak. + +> Even without the tender offer, SoftBank and its $100 billion Vision Fund currently own 52.3% of WeWork. While most of the financing agreed in October has been provided to WeWork, some $1.1 billion of senior secured debt was contingent on the tender offer being completed. + +> SoftBank has so far invested more than $13.5 billion in WeWork. It has been under growing financial strain, with souring tech bets bringing it under pressure from activist investor Elliott Management and pushing it into a radical pledge to raise $41 billion by selling down core assets to raise cash for share buybacks and to reduce debt. + +The only winners in this fight will be the lawyers, as both companies have quite a bit of I.O.U's. +Article [here](http://fistfuloftalent.com/2018/04/another-bad-idea-coming-silicon-valley-employees-pushing-retire-30s.html) + +>Most Millennials in their mid-20s aren’t able to sock away money like this, but that’s not what troubles me about this “trend.” No, what gets me is seeing well-educated engineers and other highly skilled people pushing to retire 30 years early and do … what, exactly? + +>As the author of this story noted ever-so-briefly, “For all the attention devoted to buying decades of freedom, few had thought too precisely about what they’d do with it.” + +>Why am I not surprised by that? + +Thoughts? +I have about $240,000, more or less, in savings. Also, I have stage 3A lung cancer and, at the age of 52, I am not likely to outlive my savings. Under the circumstances, annuitizing my savings seems like a really bad idea. What would the FI people do iin my situation? +I make 100k/yr and just turned 47. I don’t see myself working until 62. How would it affect my SS money? +My goal is to pay off my house in 3 years. I only have 120k in my 401k right now. I contribute 5% but will increase it by 1% per year until I’m ready to stop working in 10 years. + +I’m worried about health insurance expenses too. I don’t have any health issues right now but who knows in a few years. + +Also, I’m in grad school (30k) right now. I don’t even know why I decided to go back to school. I’m just bored. I have a year and a half left. After grad school, I will pursue a job that does not require heavy pulling, pushing, and lifting and less stress. Perhaps, that would allow me to work more years than I originally want. + +Honestly, I just wanna pay off my house right now so I can relax. After that, I’ll go full blast on investing (mutual funds, etfs, a little bit of crypto). + +I have a gambling problem that’s why I wanna pay off my house soon. I wanna secure my living condition first before I lose control. I’ve been very good not gambling lately so I’m proud of myself. + +Anyhow, I guess I should post this under rant or wherever but thank you for reading. +Hey y’all, + +So right now 90+% of media coverage is negative for crypto and BTC in general. My wife (who knows about our crypto and is a well educated and financially literate person) actually asked me today if “Bitcoin went bankrupt” because she saw some news articles claiming that crypto is dead or bankrupt. I had to basically explain that FTX and recently blockFi filed for bankruptcy but you can’t actually have BTC go bankrupt because it’s not a business. We then had a fairly interesting conversation about how BTC is mined and why it’s actually different than a bank and how it’s free from any central authority. + +I feel like the overwhelming majority of people who aren’t big into crypto will just see the recent headlines and interviews just as she did and make a similar assumption, that BTC is a company that is basically dead/struggling. It only took 5-10 mins to clarify all that, so if you encounter someone who is conflating the news with fact try to explain the reality of the situation. It can go a long way for some people. +Hi there, + +I thought that providers of the 15 hours free childcare in England weren't allowed to charge top-up fees, though of course they are allowed to eg require you to use the hours at certain times of the day? + +Here's the bill I just got from my child's nursery: + +Day | Number of weeks | Daily rate | Total +-----|---------------------|------------|------- +Monday | 12.00 | £41.00 | £492.00 +Wednesday | 13.00 | £41.00 | £533.00 +Friday | 13.00 | £41.00 | £533.00 + +My daughter is in nursery for 7.25 hours 3 days a week. So they are charging 41/7.25 = £5.66 per hour. Great, a bargain! + +But my understanding is that they should be subtracting the number of hours paid by the govt (15 a week), and charging £5.66 per hour on the remaining hours? + +But if you look at the bill, then there is the following line: + +Funding for 3 & 4 year olds per hour +15 hours/week x 12 weeks 180.00 £(4.03) £(725.40) + + what it looks like they are doing is subtracting 15 x £4.03 from the *total* bill -- ie, not giving us the 15 hours free, but charging us a top-up fee of about £1.50 on those hours. (In another document they mentioned that they get about £4/hr from the govt for the free hours.) + +Sorry if that's a bit confusing! My question... isn't this a violation of how the 15 free hours are supposed to work? +Please for the love of god so help me if I see one more post with a 100,000$ account going long on GME in Robin Hood I’m going to strap a propane tank to myself and become a grill for two seconds before I fucking explode next time momma wants some grilled dogs + +Please for the ever loving fuck if you use robinhood sign up on Fidelity! It took me literally 15 minutes today. 15 minutes and I get to sleep soundly knowing none of my shit gets shorted to oblivion. + +I will do you one better! When you move to fidelity you can literally fund it directly from Robinhood! Just click on manage account and find transfer brokerage. Then plugin your robinhood account number and BAAM. Now robinhood literally can’t fucking short your game stock shares! They have to send those motherfuckers directly to fidelity and are now out of extra powder. + +Somebody with more wrinkles has probably done a better job of explaining this maybe somebody could go the extra 8th mile and create a massive post with it all and have the mods pin it? + +🚀🚀🚀🚀🚀🚀🚀🚀🚀GME 800c Apr 4th +Background: I'm a rising senior in college. I've been using a stock market simulator app to feel out the market since my senior year in high school. I've used a very simple strategy that has more than doubled my starting funds. + +I simply look at a website that grades stocks based on predicted returns. Then I buy 4 of the highest rated stocks in different industries, dividing my bankroll by 4. I wait for my portfolio to increase by around 5%, then I sell and repeat. + +If my portfolio hasn't increased in 3-5 months, I'll also sell and start over. + +I'm aware that this has happened during a really strong upswing in the market, and that decisions are a lot easier to make when you're dealing with fake money. But say I maintain this strategy when I start to acquire some capital after graduation - maybe increasing to 8 stocks instead of 4. + +Would it be wise to continue using this strategy given my past success, or would it be smarter to get a standard Vanguard account? + +Here is a graph of my portfolio. The large upswing and downswing were glitches in the app that corrected themselves after a few days. + +http://m.imgur.com/gallery/PqYzLZ7 + +[GameStop.com](https://www.gamestop.com/) || Shop [Internationally](https://www.reddit.com/r/Superstonk/comments/vyyzmx/gamestop_retail_international_nft_game_informer/) || [NFT Marketplace](https://nft.gamestop.com) + +GameStop [Investor Relations](https://news.gamestop.com/) + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. If you're looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade– then this is for you + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/x3byy4/drscomputershare_megathread_092022/) + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +How to [feed DRSBOT](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/). Low karma? Post your DRS on r/GMEOrphans + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +TL:DR: + +* **74** BofA Branches in USA will be permanently closed with majority closing before the end of the year. +* **~~714~~** **720** BofA Branches are currently marked as temporarily closed with zero explanation given. \*\*6 additional branches that are temporarily closing have been discovered in Oregon\*\* +* **~~1~~** **2** branches, in Paterson, New Jersey and Bend, Oregon are "temporarily closed for improvements". The one from Bend, Oregon has been closed since April 2021. These are the only two branches to provide a reason for the closure. +* **8** branches are closing October 5, 2021 (**this Tuesday**) +* **10** more are closing before the end of this October +* **23** BofA branches will be permanently closed in November. +* **5** more in December +* **10** more scheduled in 2022, with 9 of them being in January. +* There are a total of 4,217 branches in the USA. This means that currently ~~16.95%~~ 17.12% of all BofA branches are temporarily closed. Sauce: [https://www.bankbranchlocator.com/bank-of-america/](https://www.bankbranchlocator.com/bank-of-america/) + +SAUCE: + +[https://locators.bankofamerica.com/](https://locators.bankofamerica.com/) + +Edited for formatting, adding the total number of banks, and additional bank closures for October! + +Edit 2: Thank you 2 u/Elitist-Jerk- , u/jennijen85 , and u/robbyatmlc for thoughtful critique and observation! I am sure I will add more here lol. + +&#x200B; + +Merry Monday Eve Apes! + +&#x200B; + +So I have been seeing a lot of confusion regarding the pictures of the closed up BofA buildings. Are they recent, or are they just old pictures from the protests earlier this year? I decided that it might be best if I just make a list of all the BofA branches in America that are currently closed and list it here for all to see, this way we can tell for certain what is closed and where. + +Using the BofA website's branch locator, I looked at every Financial Center and ATM that is listed and seen which branches are listed as "temporarily closed" and which are listed as soon to be "permanently closed" with a date of closure included. + +I have included a more detailed list of all the branches that will be permanently closing, starting with the ones closing soonest, after the table provided. Some of these branches are closing THIS TUESDAY. + +Perhaps local apes know why some of these branches are closing? It will also be interesting to see what banks stay open as time progresses. + +I also included a column showing how many BofA financial centers are closing while being the ONLY BofA center in that area, effectively leaving the surrounding populace without a BofA to bank at. + +&#x200B; + +|STATE|Banks temporarily closed as of today:|Banks that are closing permanently:|Cities that had only 1 BofA Financial center that is closed:| +|:-|:-|:-|:-| +|Arizona|28|5|0| +|Arkansas|3|1|0| +|California|169|13|33| +|Colorado|0|0|0| +|Connecticut|14|15|7| +|Delaware|1|0|0| +|D.C|6|2|0| +|Florida|84|5|20| +|Georgia|21|0|3| +|Idaho|0|0|0| +|Illinois|40|3|18| +|Indiana|1|0|0| +|Iowa|0|0|0| +|Kansas|5|0|1| +|Kentucky|1|0|0| +|Maine|3|0|3| +|Maryland|22|4|8| +|Massachusetts|34|2|13| +|Michigan|16|1|4| +|Minnesota|2|0|2| +|Missouri|10|0|2| +|Nevada|4|1|0| +|New Hampshire|3|0|3| +|New Jersey|31|3|24| +|New Mexico|2|0|0| +|New York|40|2|12| +|North Carolina|32|2|4| +|Ohio|0|0|0| +|Oklahoma|5|0|0| +|Oregon|~~10~~ 17|0|0| +|Pennsylvania|10|0|8| +|Rhode Island|5|0|4| +|South Carolina|13|2|2| +|Tennessee|8|0|1| +|Texas|32|7|4| +|Utah|0|0|0| +|Virginia|17|1|3| +|Washington|43|5|8| +|TOTAL:|~~715~~ 722|74|187| + +BELOW IS A LIST OF THE STORES THAT ARE BEING CLOSED IN 2 DAYS: + +Granite Bay, California + +San Francisco, California (Lakeshore Plaza) + +Washington Plaza, Connecticut (Middletown) + +Carol Streams, Illinois (the only BofA Financial Center there) + +Chicago, Illinois (Bucktown North) + +Rumson, New Jersey (the only BofA Financial center there) + +Cape Coral, Florida (Pelican Boulevard) + +Pompano, Florida (McNab Road) + +&#x200B; + +Additional Banks Closing in October: + +Mount Pleasant, Washington D.C - 10/12/21 + +Port Jervis, New York (only BofA center there)- 10/12/21 + +Duncan, South Carolina (only BofA center there) 10/12/21 + +Las Vegas, Nevada (Farm and Durango) - 10/19/21 + +Santa Clarita, California (Copper Hill) - 10/26/21 + +Clearwater, Florida (Downtown Clearwater) - 10/26/21 + +Chevy Chase, Maryland (only BofA center there)- 10/26/21 + +Loudonville, New York (only BofA center there)- 10/26/21 + +Seattle, Washington (Bellevue Village) – 10/26/21 + +Seattle, Washington (Industrial) – 10/26/21 + +&#x200B; + +If any apes are from these areas and know of any reason these branches might be closing please let me know! + +Enjoy your Sunday and cheers to an awesome Monday! + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🌕 +I am kind of tired of seeing what seems like the rame posts over and over again, so I decided to post something I have not seen in a while. + +Wolframalpha is excellent for getting initial information and comparisons. It is worth playing around with if you have not done it before. + +Take this example comparing companies in the 3D printing sector: http://www.wolframalpha.com/input/?i=ddd+vs.+ssys+vs.+xone +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Please tell me that I am not the only person observing this phenomenon. + +I think the reason behind this: People who have the wit to withstand the mental torture, blood, sweat and tears at the modern workplace can use the same wit to take risk, think strategically, make sound investments and also endure painful market swings and downturns. + +That brings us to a controversial and uncomfortable idea: People who have the wit to FIRE won't retire because they don't feel like work is screwing them up, while people who hated work or feeling put down by it can only hope and dream of FIRE, but never really achieving FIRE unless he / she has a big salary to start with. + +Obvious examples are my relatives and friends. Those who wanted to FIRE so badly cannot do it, and that one multi-million dollar guy keeps working although he's near retirement age. If he can't get full time work, he will do part time. No kidding! + +Do you see this phenomenon too? Maybe we who dream so much of FIRE should do some soul searching. + + +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +What makes this sub special for me is about lifestyle and habits of people who are or are seriously considering fatFIRE. + +The RE is just as important as FI. + +But I’ve noticed way too many posts about being FI but loving work and not wanting to RE. That’s great but it doesn’t belong in a fatFIRE sub imo + +Edit: it’s in the sub’s name guys. It’s fatFIRE. A lot of these aggro comments want it to be fatFI or ‘rich people sub’ cuz they have nowhere else to talk about their money. Go to the country club! It seems the majority in here don’t know or want fatFIRE, just to talk about money, subs been hijacked. FatFIRE is about FIRE while being wealthy, not just being rich and working. Clearly outnumbered though so downvote away +I'm currently based in NY, but my company is planning on opening a second office in a no-tax (FL) state in the near future. Based on our income, moving/establishing residency in FL would cut out ~50-100k of local/state tax per year. Would like to maintain a presence in NY, but the idea of being able to rent a second full residence in FL and still save an extra 10-50k per year is extremely appealing for obvious reasons... + +Does anyone have experience with this? Beyond living in FL for >6 months a year, moving registrations, etc, are there other pitfalls to watch out for if attempting this? + +Thanks! +Sold my company earlier this year. It was a small team (<10 people) and only a couple people were offered jobs at the acquiring company to help with the transition. They didn't offer any of the people "stay packages" to lock them in or make any of the deal terms contingent on continued involvement. I was one of those people and tried to give two weeks notice earlier this week after 2 months at the company and deciding I didn't want to stick around. + +I knew it would be tough for the acquiring company but didn't expect what happened next. The conversation got escalated up the chain of command and they threatened to lock me up in litigation if I didn't agree to stay on for a minimum of six months with no additional compensation. Had to agree to stay because I can't afford protracted litigation costs. + +Was I the asshole for trying to leave? No one mentioned any expectation for how long I would be expected to stay post acquisition. In retrospect they probably thought I was a low flight risk and didn't want to pay me extra to stay on. That or they wanted to reserve the right to fire me but didn't think I'd leave before the wanted to let me go. Is this type of behavior par for the course? Figured r/fatfire would have some good stories to tell. +Here is the [official tweet from the Eclipse Foundation](https://twitter.com/EclipseFdn/status/1227245906350739456) + +https://tangle.ee/ + +_____________________________________________________________________ + +Here is a variety of news sources from outlets sourcing the news: + +https://techcrunch.com/2020/02/11/tangle-ee-project-joins-eclipse-foundation-to-bring-distributed-ledger-apps-to-enterprise/ + +https://www.businesswire.com/news/home/20200211005265/en/IOTA-Eclipse-Foundation-Launch-Working-Group-Develop + +https://www.coindesk.com/dell-among-founding-members-of-new-iota-working-group + +_____________________________________________________________________ + +If you want to check out the Eclipse project, here is the official site for it: + +https://projects.eclipse.org/proposals/eclipse-iota-trinity +We've got a good 12 month window to be shorting everything into the ground. Not things like Tesla that actually makes something people want to buy. I'm looking for companies that are real dogs or are downright fraudulent. + +The best idea I have right now is JC Penny. They are in massive debt and it's one of the shittiest retailers there is. Not a very sexy short, but neither is my wife and I love her. + +What short idea do you have? +This mod drama is just extra confirmation bias that clearly apes are onto something. I HODL until food stamps or lambos and I sincerely mean that. + +The only thing I find concerning is the people that are still reliant on this or any other sub Reddit for confirmation bias. The DD is DONE! I come here for the memes and recently I’ve brought popcorn with me to watch this dumb mod drama unfold. It’s all meaningless bullshit. + +Any new apes should purely focus on archived DD and then after reading it should immediately get off Reddit. I am now incredibly alarmed that when we do see insane prices FUD will only get worse since we don’t have the mod team we thought we had. I personally will be getting off Reddit and simply continuing to Buy and HODL. + +Edit: I will scraping together some tendies for an additional share on Monday as a big fuck u to some of these power hungry mods and POS SHF. +I work in a gun store/rental range and will be taking over the retail store portion, reporting directly to my boss, who is the general manager. I have been supervising the store for the past 6 months or so, but not technically management, so I am hourly + commission right now, making about $35K. The company is in a bit of flux (the good kind) and is growing rapidly. + +I have checked median salaries for retail managers, but they range from like $12/hr Radio Shack managers to the GM of a Walmart, who I'm guessing makes around $100K on average. Median Store Manager salary in my area is around $50K. + +Some considerations: + +1. I only supervise 5 people at the moment. This will grow eventually. + +2. There is a MASSIVE regulatory burden in the firearms industry. Literally (no hyperbole) failing to dot an "i" could lead to revocation of our license and the loss of millions of dollars in revenue and over 40 jobs. This is unlikely to be pursued, but the threat is always looming overhead. There is a lot of pressure to not screw up, and I would be ultimately responsible for ATF compliance. + +3. While the retail store itself isn't very high-grossing (low seven figures/year), nor particularly profitable (very thin margins), its success benefits the range via access to better prices on ammo and relationships with people in the industry. The range is the real cash cow (immensely profitable) but the two portions of the company have a symbiotic relationship. + +4. I have an excellent relationship with my boss. I would probably even call him a friend. He has basically been given carte blanche to do whatever he deems appropriate by the owner, who recently acquired 100% of the company. He has taught me a lot about business, the industry, and has shown a lot of faith in me. I started as a part-time sales guy 2 years ago and have continuously been given more authority and responsibility. This wouldn't be a combative negotiation, he just needs to be able to justify it to the owner. + +5. My value to the company is substantial. I am a pretty humble guy, but I know how I fit in to the grand scheme. If I had to guess, my replacement by anyone else in the company would probably cost them 6 figures/year, between loss in sales and my boss having to focus more time and resources on the store instead of the range. + +6. A little birdie told me that a former manager, now terminated, was making about $75K. I obviously can't leverage this, nor can I verify it, but it was told to me by someone I trust. He had different responsibilities than I, but this at least gives me a frame of reference. + +Thanks for reading all of this, and I would appreciate any advice. +Most of you remember how Elon screwed everyone over time after time. + + + + + + + + + + + + +He back tracked so many times, one might guess he only has reverse gear. +He lied about paying with BTC. +He shit on doge while on live tv. +He made false promises about doge being adopted by tesla. +He is a liar, a cheat and a shameless market manipulator. + + + + + + + + + + + + + + + + + + +From start of twitter deal he played dirty. Now he is finally getting what he wanted and things are not looking good for Tesla and neither for twitter. + + + + + + + + + + + + + + + + + + + +We are talking about a guy with as much moral compass as Trump. +But don't hate him for being such a POS. He is doing what he must to make the most profit. We are the ones falling into his trap time after time. + + + + + + + + + + + + + + + + + + + + +I swear to god if Elon makes one positive tweet about doge there are still idiotd who would rush to buy. Just look at doge price movement. It is literally a toy in the hands of Elon now. +When people gonna understand no billionaires has becomes one to help others? + + + + + + + + + + + + + + + + + + + +You can't be a billionaire by playing nice and ethical. And Elon is extremely unstable on the top of that. Please be careful with doge. You are putting your life savings in the hands of a madman. And he can destroy you with a single tweet. I can see how he will bring down tweeter with his stupid decisions. And once it happens doge gonna crash hard. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +Nearly a year ago I had my ID stolen - Drivers License, Medicare Card, Passport, and utilities statements. Since then, my details have been in heavy circulation with people trying to apply for credit cards, loans, phone contracts, you name it. I had my credit file locked, however I still get notifications of people still trying to use my info - its even gone as far as people using my ID to authorize mobile phone ports, so they can steal my number and gain access to my bank accounts, emails etc. and theres nothing the phone company can do about it, because they have my ID. I'm about to purchase a house soon, and I would like to eventually take the block of my credit file. Is there any way I can have my ID information changed? I was told by NSW RMS that a license number is like a TFN and is stuck with me for the rest of my life.. if thats the case, then so will this fraud. Medicare will allow me to change my number, and I am yet to enquire about my passport. Does anyone know if there is a way around this? Its starting to get tiresome... +My employer who is a family member hasn’t paid my tax yet I’m wondering if I can claim it? I only started working late last year and I’m under the tax free threshold. + +Also would it effect my employer in regards to paying my tax late if I claim it? +These two seem to be the biggest movers in the market depending on what its doing, im really am struggling to work out what the fuck is going on. + +US will easily take China as the number 1 covid destination by Friday, which will fuck them market doesnt seem to notice though. + +Im still loading up on the BBOZ bus. +We'll be downsizing soon and my wife would like to try high rise living - getting an apartment in a inner city centre. I'm a bit wary because of recent horror stories, eg. Mascot Towers and Opal Tower as well as various consumer reports of dodgy issues such waterleaks, etc. + +The question is how to mitigate the risks? Either buy outright or rent out our property and rent in a high rise apartment. Issues wear and tear on our property, tax, vagaries of renting, eg kicked out, rent increases, etc +I get it, scary day. You wanna go hide in your wife's boyfriends closet. But you gotta stop dreaming of a potential payout and graduate to 💎🙌 **RIGHT HERE, RIGHT NOW** by committing in your heart to seeing this through to $0. Just fucking do it. Really roll that thought around in your head for a second and come to peace with it. That's what we came to do. Tendies or massive loss porn, we're not walking away empty handed. + +Really, just think about losing it all as if it were a sure thing for a little bit. If you can swallow that, nothing's gonna bother you anymore. If you can't, get your 🧻🙌 out of here, you should have never been here, more shares for us. +From Google Trends: https://i.imgur.com/k3ynHV2.png + +Since late 2021, NFTs have been on a steep downward trend. I decided to do some quick research after watching the general sentiment here on reddit turn from "crazy optimistic" to "pariah." Sometimes, that's just "group think," and the truth lies in the marketplace. In this case, what we're looking at is actual search demand. This would include searches by non-buyers who were just learning about the term for the first time, seeking greater understanding of the concept, yet rather than finding that info and jumping into the pool, the data would suggest that most are disinterested in further participation at that point. + +My assessment of the cause could be open to interpretation. The data shows however, that NFTs are in no way gaining in popularity overall. +I worked for Panera for about a year. I thought it would just suck but it was actually a lot of fun. I was wondering if that was possible to do again (or its just random). Thanks +&#x200B; + +[Lok Sabha is analogous to Congress in the USA](https://preview.redd.it/m1an4bd4ikp81.png?width=602&format=png&auto=webp&s=537e4ea8c2147dae0c12a17ee1555f95ee10c298) + +Indian gov is passing a new bill that will make people pay: + +i) 30 % tax on each profit +ii) No loss setoff + +Indian financial cycle is completes on 31st March. People are planning to sell on 31st and buy back on 1st to make their losses count in the previous FY and the current holdings can be shown as purchase. +This is why DEXes are important, but the only problem is how to get your fiat into crypto for the first time. People mostly use Binance P2P but now Binance asks for KYC it is becoming increasingly hard to own crypto without the government knowing about it. + +**Welcome to the Daily General Discussion thread.** + +- +*** +- + +**Disclaimer:** + +Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and excercise utmost caution before acting on any trade tip mentioned here. + +**PnDs and brigades are not sanctioned by the mod team in any way as they violate [rule III](https://www.reddit.com/r/CryptoCurrency/about/rules/). If you discover this thread is being used for these activities, bring it to the mod teams's notice via the [modmail](https://www.reddit.com/message/compose?to=%2Fr%2FCryptoCurrency).** + +*** + +**Guidelines:** + +* Questions, debates, meta issues, etc are all welcome. +* Breaking news should be posted separately from this thread. + +*** + +**Rules:** + +* All [sub rules](https://www.reddit.com/r/CryptoCurrency/about/rules/) apply in this thread. The prior exemption for karma and age requirements is no longer in effect. +* Discussion topics must be related to cryptocurrency. +* Comments will be sorted by newest first. + +*** + +**Resources and Tools:** + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. +* Click the RES subscribe button below if you would like to be notified when comments are posted. +* Consider checking out our Weekly Skeptics Thread for discussion focused solely on critical analysis. [Click here](https://www.reddit.com/r/CryptoCurrency/search?q=Weekly+Skeptics+selftext%3Acontroversial&restrict_sr=on&sort=new&t=all) and select the latest thread on the search listing. + +- +*** +- + +Thank you in advance for your participation. Enjoy! + + + +[**Direct Link to Article**](https://www.imf.org/external/pubs/ft/wp/2013/wp13102.pdf) + +Our apologies for the delay. Mid-summer beach season isn't the most active time of the year for /r/econ's mod team. + +This week's article is an IMF working paper, which was nominated by /u/vavisis, who writes: + +> If I had to summarize it in one sentence: More equity is better for a bank during a crisis. If we are going to be talking about the transmission mechanism, I think it would be good to look at how it is effected during crisis. + +**Abstract:** + +> We examine the role of bank balance sheet strength in the transmission of financial sector shocks to the real economy. Using data from the syndicated loan market, we exploit variation in banks’ reliance on wholesale funding and their structural liquidity positions in 2007Q2 to estimate the impact of exposure to market freezes during 2007–08 on the supply of bank credit. We find that banks with strong balance sheets were better able to maintain lending during the crisis. In particular, banks that were ex-ante more dependent on market funding and had lower structural liquidity reduced the supply +of credit more than other banks. However, higher and better-quality capital mitigated this effect. Our +results suggest that strong bank balance sheets are key for the recovery of credit following crises, and provide support for regulatory proposals under the Basel III framework. + +For this week's /r/economics Article of the Week we look at the relationship between income and energy use. The article is [The Demand for Energy-Using Assets among the World's Rising Middle Classes](https://www.aeaweb.org/articles?id=10.1257/aer.20131455) by Paul J. Gertler, Orie Shelef, Catherine D. Wolfram and Alan Fuchs which was published in the American Economic Review. [UNGATED VERSION HERE](http://faculty.haas.berkeley.edu/wolfram/Papers/Timing%20and%20Energy%20AER%20RR%20Final.pdf). + +The summary this week is by me /u/ponderay + +Recent growth in energy demand has been mostly driven by increases in energy use in the developing world. As the developing world is expected to continue growing it is important to understand the factors that drive energy demand in nations like China and India. Understanding energy consumption in these growing countries is vital to models forecasting the future path of greenhouse gas emissions and thus the likely costs of global warming. + +This paper attempts to explain the [s-curve relationship](http://i.imgur.com/pWVFhUF.png) between income and energy use we see in the data on aggregate electricity demand in developing countries. The authors hypothesize that this non-linear relation is due to the presence of borrowing constraints in developing countries. If households have access to reasonably priced credit they can buy electricity intensive appliances,like refrigerators and air conditioners, right away when there is an increase in income. This would lead to a smooth increase in energy use as more and more households decided to buy energy intensive appliances But if there are borrowing constraints households must instead wait until they have enough savings to make the entire purchase. In this case we would see very little growth in energy use as income increases until a certain value where households would finally be able to purchase appliances. At this point electricity use would grow rapidly before eventually flattening out. + +The authors write down a formal model of this process which generates three important predictions. First we have the s-curve relation between appliance owner ship rates(and thus energy use) and income. The percent of the population who owns appliances should grow slowly at first then as income increases it should grow rapidly and eventually growth will slow down again. The second prediction is that all else equal, borrowing constraints imply that households who receive income latter will be more likely to buy appliances latter. That is if we imagine two households who both earn the same amount of income in a given two year period. The household that earns the majority of their money in year two are more likely to buy a refrigerator then the other household that earns the majority of their money in year one. Lastly, due to technical reason, the effect of moving income to a latter period should increase purchases even more as income increases. These predictions provide the authors a way to tell if borrowing constraints are important or not. If borrowing was easy households would react to their total income over a time period and the timing wouldn't matter. + +To test this theory empirically the authors turn towards a famous cash transfer program to poor rural populations in Mexico called Oportunidades. The program gave cash transfers to family conditional on participating in a health education program. In addition cash payments were given for each child in school. Most importantly for this paper the participants were divided in to two groups randomly. One group would be enrolled in the program immediately while the other had to wait a year. This is important as it gives the researchers randomized variation in the timing of income, which means the author can treat the program as a randomized trail meaning that any results are likely free from statistical bias and can be taken as causal. + +The data from the program confirms the theory. A s-curve can be seen in [the data collected](http://i.imgur.com/2QIzepI.png) for the program. Furthermore the data is consistent with the predictions of how agents would act in the presence of borrowing constraints. Households who enter the program latter are much more likely to purchase refrigerators. In fact, households in the second period behave like households in the first period with an additional 6,000 dollars in income. + +What are the implications of this? First these results highlight the importance of borrowing constraints in shaping behavior and well being in developing countries. By make large purchases more difficult, borrowing constraints keep households from the health benefits of refrigeration and [air conditioning](http://www.journals.uchicago.edu/doi/abs/10.1086/684582). Secondly these results have implication for models forecasting future emissions. Because many of these models assume a linear relation between energy and electricity consumption, this paper implies that those models are understating future increases in emissions from income gains in China and India. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +Hi, it’s time for another update! + +At this point in time the hype is fading away and things are settling down. + +For starters, the chivo app still have problems doing transactions (tx) to external wallets like muun or coinomi. Tx between chivo wallets are fine, although they use a btc L1 QR code, the transactions are instant and without any issue, so it’s logic to assume chivo doesn’t use the btc blockchain at all. + +I personally think chivo app is becoming something similar to a bank app, you can send and receive money, it has 0 fees between the same app, you contact customer support for any issues, and it’s a pain in the ass to make transaction to other banks (external wallets)… + +Many of you might say this is just the beginning and that things will change…and you’re probably right, I also hope the development of btc as currency take a step forward. + +Moreover, I imagine what many of you are thinking, *why do you need to use chivo? Just use another wallet.* + +Yes, I can use other LN wallets, however the main issue is the fee, a $0.50 coke can become $1.50, all of you already know how fees work. So, by using chivo app you omit paying fees and the transaction is instant… + +The most used wallets aside chivo are muun and wallet of Satoshi, only on the beach and nearby places you might find bitcoin beach wallet. Many people asked me about strike, but no one really use it, it requires your ID to register aside other personal information, you also can´t send less than $5 so…it’s not a wallet for daily use. + +Some people also asked about the implementation of other crypto currencies, there are some interesting projects like nano but as long the coin doesn´t show any advantage in a daily use I find it harder to succeed. + +\----------------------------------------------------------------------------------------------------------------------------------------------------- + +Probably the big news as for today is bitcoin city, since I don´t have more information than what Bukele explain I’ll only share what people is saying… + +As always, there are many who thinks this will help develop the country attracting investors and foreigners, I think this is true. On the other hand, there’s also people who claim the country need investment in areas like education, security and so on rather than building btc city which probably only benefit a small group of people…I also think this is true. + +El Salvador needs to improve in many ways, government needs to plan in short and long term. There´s no good or wrong answer at the moment, after all you do what you can and what you think will bring the best outcome. + +Fun fact, the image of bitcoin city is actually a stock image with a volcano over it…this became trendy in social media days ago. + +Probably the most eye-catching feature is the tax exemption, bitcoin city seems to be a haven for local and foreign investors, I personally think Salvadoran government is saying “I don’t care how you get the bitcoin…just come”. + +*Will btc city became a crypto version of Las Vegas? What are your thoughts?* Leave your comments below! + +\----------------------------------------------------------------------------------------------------------------------------------------------------- + +There’re also some people who asked me about land and the safest locations in my country, it´s hard to answer in detail to everyone so I will create a post around Friday titled + +**“Almost everything you need to know to buy land in El Salvador and not dying (literally) in the process”** + +With such a catchy title it will be difficult to miss it…. + +I will try to summarize the most relevant information about my country geography and social context. There are many misconceptions about how dangerous El Salvador is. I´ll also give you some insights about real state, I wonder if anyone is interested where btc city will be built. + +As always, I’ll try to answer all your questions. +Hi all, + +Because of the Brexit, Interactive Broker pushed to migrate every account to Ireland or Luxembourg. Something very surprising, with this migration, **it is not possible anymore to leverage on FX positions anymore...** + +This makes IB useless to me as all my algos trade on FX. + +I started looking for the best broker and discovered IB was very competitive with 4$ commission per trade. My top finding are: + +* **FXCM**: similar spread (or slightly worse), 6$ commission / trade / lot +* **Yadix**: similar spread, 5$ commission / trade / lot + +The IB commission is not dependent of the trade size (only your monthly trade volume). So it was possible to diminish the impact of the commissions with bigger trades. **No other broker does the same??** + +What about you? Do you know any broker I should turn to? + +Thanks all +I’ve been lurking for a while, loving the posts but I’m such a noob I thought I might as well ask something I haven’t seen posted - where could I buy an algo (or work with someone to build one) and then how would I test it to ensure it’s effectiveness? + +Thank you :) +I have been following this sub for awhile but haven’t seen anyone post anything around the performance of their algos. I keep thinking about shifting my time over to building algos but am unsure if it’s just 1% of you who are making profitable bots. + +It would be encouraging / interesting to hear from the community what kind of results they are seeing on non-nominal portfolios. +My crypto investments are primarily BTC and ETH, but a solid chunk in alts as I thought a few of them had good potential for short-term gains. However, the more I learn about Bitcoin the more I want to go all in on BTC especially with the recent political climate. My plan is to hold long-term (10+ years). + +I’m curious if this community finds this logical or not. I am a software engineer and I think a generally smart person but there are so many factors that could affect this in the next 5-10 years I can’t help but second guess myself. + +edit: thanks all for your responses. i will hold the alts i am currently invested in as i believe they are among the strongest out there and i bought in because i believed in the potential. hope is to take profits from these if there is another run then reinvest into BTC for the long run. cheers all and good luck on your personal BTC journeys! +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +https://www.ted.com/talks/tammy_lally_let_s_get_honest_about_our_money_problems + +A good TED talk regarding our beliefs about money and in particular the money-shame connection. + +From the people in this sub I see more money shame around spending than saving, but I think we could all use some self inquiry to understand ourselves better. +[https://www.youtube.com/watch?v=mVDGU-iFLIU&ab\_channel=AndyLee](https://www.youtube.com/watch?v=mVDGU-iFLIU&ab_channel=AndyLee) + +Basically Smallest to Largest hedge funds will take responsibility in covering their shorts. We need to make sure we don't sell till after we reach the biggest hedge funds so that they don't cover on the lower prices and we make millions. + +Posted this to AMC groups and SuperStonk +Hi everyone! + +I'm a high school student who is wondering what to study in university. In my parents' opinion it is not smart to study finance, as it is getting harder to find a job due to improving AI and automation. + +I'm very interested in investing and the economics and I've been investing my own savings for a few years now. In my opinion there are more things to finance than trading and long-term stock investing and I think it would be interesting to study finance and mix in a litte bit of tech as minor studies. Do you think it would be a smart move to study finance or economics in uni or is the time of Wall Street and finance as we know it already over? + +You can also tell about your own experiences if you are studying/have studied finance or economics. + +Thanks! +[$SPOT](https://stockflare.com/stock/spot.k) closed yesterday at $149 with a valuation of $27bn. Wall Street's target price is $238 a share, so they say *Buy*. + +But let's do a little comparison with [Vivendi](https://stockflare.com/stock/viv.pa) who own Universal Music, the largest music publisher with 29% market share or [Sony](https://stockflare.com/stock/sne) with 22% [market share](https://www.musicbusinessworldwide.com/global-market-shares-2016-sony-and-warner-gain-on-universal-as-indies-rule/) + +|Metric|Spotify|Vivendi|Sony| +|:---|:---:|:---:|:---:| +|Value $ inc. cash | 27bn | 36bn | 51bn | +|Forecast sales $ | $7bn | $17bn | $82bn | +|% music | 100% | 54% | 9% | +|Value / Sales | 4.2x | 2.1x | 0.6x | + +We don't have a way to value the entire music industry, but say 50% of Vivendi and 10% of Sony equals 50% of the industry, that implies $46bn. + +So if Spotify hits the $238 price target its $43bn would be in striking distance of the whole music publishing industry. + +Entirely possible? **Yes**. + +But as the [vampire squid](https://en.wikipedia.org/wiki/Vampire_squid#Cultural_references) might say: looks like $SPOT needs to grow into its valuation. + +Hedge funds have found a way to more or less so sustainably control and manipulate the markets to their own advantages for decades. Now retail has finally grown old enough to enter the casino, but we’re “dumb money”. We don’t have the knowledge or experience to be subtle with the fact we think it’s all a giant game. We find a stock that we like, and we pile on until it blows the fuck up. No one can ignore that. + +Now big money is realizing that the whole game has been outed. Their discrete little basement poker game has been infiltrated by millions of screaming apes who they can’t shut up. Foreign investors won’t be able to take us seriously anymore, and US investors won’t be intimidated or impressed by hedge funds like we have been. + +You have no fucking idea how much this has to piss them off. They pity and despise us so much; we’re nothing but stupid sacks of money waiting to be snagged and emptied to them, yet we’ve ruined their entire enterprise. + +It’s a beautiful thing, and it gets my tits so jacked to even think about. Once the wealth has been transferred nothing will be the same. Are you ready for Capitalism 2.0? + +Edit: Buffett* lol + +Edit 2: honestly a couple people have made the valid point that Buffett is not necessarily the best target for this argument. The man is more interested in fundamentals with long term value, he’s not a big fan of volatility so it makes sense he doesn’t appreciate our apishness. +I don’t know about you all but credit cards in Europe suck compared to the USA. Our perks are minimal and it started when the EU brought in laws that limited how much credit cards could charge merchants. You’d think that this would allow merchants to lower the price of their goods but not when everyone had already gotten used to paying those prices in the first place. So we just ended up continuing to pay the higher price while losing our credit card perks like tons of points that were valuable etc. Now the cards here offer at most around 0.1% cashback equivalent on spending. + +So imagine my excitement when crypto cards started coming around that allowed you to get cashback depending on how much you were willing to invest all the way up to a whopping 8% now. I was straight onto it and settled on a visa from Crypto.com and have been spending with it ever since. It’s a game changer. This can result in saving a lot of money when you live most of your life on a discount. Added bonus when your coins generate APY and go up over 500% after you bought them, allowing you to sell the extras you don’t need to meet the minimum stake for your reward tier. + +I got my card about a year and a half ago and have been using it everywhere I can in my life. I’ve just hit over $10k saved with the card. These cards are awesome for personal finance goals and if anyone hasn’t gotten one of them yet, I’d highly recommend it. Not just CDC but other companies provide decent cards too with good cashback and other perks. + +Proof: https://imgur.com/a/FuOCwP7 +https://www.realestate.com.au/sold/between-12100000-12100000-in-drummoyne,+nsw+2047/list-1?includeSurrounding=false&activeSort=solddate&source=refinement + +Am not sure the original source for this so I'll have to offer a private homage to whoever came up with it. + +So basically what you have to do is paste into url, toggle the from and to amounts and overwrite the suburb. I assume it works with changed state but haven't tried. + +Basically you keep tightening the amounts until the from and to are the same and you'll get your sold price. Will obviously take a bit of time if it went for $999,959 but for $990,000 would be pretty quick. I guess with the former example you'd get to between 999,000 and 1m quickly enough so close enough. + +Seems to work well and be accurate from my few uses of it. +Is there anyone else doing it here? + +The past 18 months I have move thrice earning $2k & 4k (x2) respectively. At the moment I am actually looking at moving to Suncorp for a $3k cashback. + +I would probably spend max 3hrs doing all the paperworks and around 500 aud in cost to move from one provider to another. + +And I don’t have any incentive to keep my credit score impeccably clean and high as I don’t intend in purchasing more properties the next 5 years. + +Are there potentially going to be ramifications to what I am doing in the long run apart from credit score potentially going down (at the moment it is more than 700)? +Hello again AusFinance, its your local logistics nerd to bring some more information regarding the logistics markets and industry, tying these back into how it effects the Australian economy at large. + +The biggest thing going on at the moment is the MV Ever Given that has Austin Power's itself in the Suez Canal. What caused the actual grounding isnt known yet but the effects are massive, as 12% of the worlds cargo moves through the Suez canal. About 55,000 TEU (Twenty equivelant units - 1 20' container = 1 TEU, 1 40' container = 2 TEU) of cargo moves through the canal every 24 hours, the issue is that this disruption will lead to further congestion in all called ports in about a week or so. It also means that there will be an acute shortage of equipment because those empty containers are also stuck in the canal, meaning lower utilised ships out of exporting countries because there just arent enough containers. This may have an upside as it allows us to move some of the glut of empty containers out of net importing countries as there will be less stuff to unload (the thinest of silver linings) - [https://www.abc.net.au/news/2021-03-24/ship-stuck-in-suez-canal-ever-given/100025314](https://www.abc.net.au/news/2021-03-24/ship-stuck-in-suez-canal-ever-given/100025314) + +This isnt the only thing going on but it is by far the greatest at the moment. + +Container rates across the board are ludicrously high, the Freightos Global Freight index is at $US4045 - that is 190% up from last year, we have seen a slight easing since chinese new year, however with this new development I expect there to be volatility as supply is severly constrained. These rising costs are going to have to come out in the wash somewhere and it usually means the consumer picks up the tab. The question is, is this worrying Reserve Banks, and the answer so far has been nope - but it might effect bond markets which are more sensitive to accute changes in inflation + +[https://www.afr.com/world/north-america/yellen-powell-say-more-needed-to-promote-recovery-20210324-p57dgq](https://www.afr.com/world/north-america/yellen-powell-say-more-needed-to-promote-recovery-20210324-p57dgq) +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +(Edit: Wow thanks everyone so much this blew up way more than I thought it would. Trying to read through the comments at work but I really want to say thank you to everyone with their advice/general concern. Might post an update last month to hold myself accountable. It’s a rough start but hey there’s nowhere to go but up 😊) + +I’ll have *just* enough to pay rent *just* in time before getting hit with a late fee. After that I’ll be starting from the ground up. I need to be better about this so I’m just hoping this is a good strategy and open to any and all pointers: + +Before I was trying to eat a specific diet but for now I’ll stick with pbjs and ramen (hey it’s been a while so it’ll be a treat) + +Also I work in a restaurant and eat out a lot and I just have to quit cold turkey now. +Even with a discount just thinking about how many times I paid my job instead of my job paying me just makes me sick. + +I’ve been meaning to quit vaping and this became an even bigger motivation than to stop looking like a douche sometimes. + +Finally, I need to be more selfish. I live with two roommates and honestly they’re family but I have to stop buying them lunches and coffee, it’s a good habit in hindsight but man it can be hard to break and I’m literally afraid of changing the status quo. + +Anyways, thanks for letting me vent. I’m panicking, but not as much as I was before I wrote this and thought it through. And like I said I’d love any feedback. +Hi guys I just received a DM from u/Thegreatdiamondape he's suprised me by not trying to sell me silver and he does seem like he has a legit theory he wants you all to poke holes in. Hopefully he comments so he can get the karma to post here himself but that's upto you guys. But here is his message copy and pasted. + +Hey man I saw a comment of yours on on SS +I'm new to reddit - I have been following along with several buddies of mine who have many shares. I myself am an XXXX holder as is my father. Can provide proof to show you I'm not a shill +The reason I am messaging is because I don't have enough Karma to post and this has not been getting any traction: +The HUGE thing here is that this is a stock split THROUGH A DIVIDEND which requires JOURNAL ENTRY. A regular stock split does not need Journal entry. By having Journal entry, the number of synthetics will be exposed. This is why the split is being done as a dividend for the sole purpose of ensuring JOURNAL ENTRY is required. +Please post this so that more wrinkle brains can determine if this is correct logic in my thinking +"There is a Journal Entry passed for Stock Dividend i.e debiting the Reserves (Retained Earnings) and crediting the Issued Share Capital, whereas no Journal Entry is passed in case of Stock Split only the details are mentioned in issued share capital." +"A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit." +Once the dividend is distrubeted to existing share holders (what I believe to be upwards of 500M shares floating around) the number of shares distributed as the dividend will be > the 1 Billion as a journal entry which will force a recall +Please let me know if you can post this. If not I will message someone else with more Karma. Thank you, god bless and see you on the Moon!!! + +Edit 1: If anything over 76M (float) x the split ratio is entered in journal entry as shares distributed a recall must take place + +Edit 2: our man u/thegreatdiamondape wants you wrinkle brains to concentrate on the journal! He believes that is the key bit being overlooked. +Hi, + +For context, last year I issued an FOIA request to the SEC for materials that went into the generation of the GME report they produced and released on October 14, 2021. + +Here: https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf + +This was what was requested from the SEC in the FOIA: + + - All email communication relating to the start of, creation +of, writing of and publishing of the SEC Report on Equity and +Options Market Structure Conditions in Early 2021. + + - All electronic documents pertaining to the start of, creation +of, writing of and publishing of the SEC Report on Equity and +Options Market Structure Conditions in Early 2021, including +but not limited to drafts, draft edits and markup, email +attachments in electronic form. + + - Letters and or documents submitted by or requested from +parties involved in the report, including but not limited to +Market Makers, Brokers, Broker-Dealers and SEC Staff or +contractors. + + - Minutes of internal meetings of, about or pertaining to the +SEC Report on Equity and Options Market Structure Conditions +in Early 2021. + + - All email communication relating to internal meetings of, +about or pertaining to the SEC Report on Equity and Options +Market Structure Conditions in Early 2021. + + - All electronic calendar meeting requests and electronic +calendar appointments of, about or pertaining to the SEC +Report on Equity and Options Market Structure Conditions in +Early 2021. + +The search returned approximately 10,527 pages of responsive records. The report itself is only 45 pages long. + +10,547 / 45 = 233.933333 electronic records per 1 page generated. + +Let's do a little more math though. From January 28th, 2021 (aka the Sneeze) until October 14th, 2021 (release of the report) and only taking into account business days (weekends, holidays excluded), there are 180 business days. + +10,527 / 180 = 58.43 electronic records generated per day. + +Now, that obviously is a direct case, as this would operate more on a bell curve with more records being generated during the height of the document creation, rather than at the start or end. Nor does it take into account potentially duplicate records. + +The SEC would now like to charge me between $112 per hour and $360 per hour to review the documents to make sure they are relevant (note, they get to decide that). They also expect it to take upwards of 33 hours to review. Unfortunately, as a retiree, I can't afford ~$3.5k to up to $12k USD (which is even more in my currency). Nor am I asking for money, lets be clear. + +Furthermore, they will only start to review those documents in 36 months, noting it has been almost 12 months since the request was submitted. So, 48 months total. + +What should be pointed out, how odd is it that a 45 page document, that was late in delivery (We were told it would be out in the summer), has so many electronic records essentially for each page? Doesn't that just strike you well, as being, off? + +It gets a little more interesting that the response detailing the information was sent to me by the researcher. However, the actual letter was sent by the FOIA Branch Manager. More odd, is that the SEC stated they emailed me on September 12th about this (which I have no copy of) and the document they provided is dated the 12th, however, when I asked them to forward a copy of that email, they have not as of yet done so. + +Take it for what it is worth, but there is more hiding here than they are telling us. +Hey all, + +I am having trouble finding work as a chemist because: + +1) There aren't many available positions in my city +2) I have a felony on my record (non-violent, non-drug related) + +I have been in the biotech industry for around 7 years. +I have about $200,000 in savings and no debts. I am currently on unemployment which brings in about $1800/mo. I also receive about $700/month from interest. This more than pays for my lifestyle. + +Unfortunately, due to a bad decision a couple of years ago, I am now on house arrest and have a felony on my record. I can leave home if it's work related... + +I see my options as this: +1) Keep looking for a job in biotech as a chemist +2) Go back to school for a trade (plumbing, electrician, welder, etc...) +3) Go back to school for computer programming (an interest of mine, but with a felony that might be a pipe dream, unsure) +4) Start my own business/buy an already functioning business + +I don't have much experience with running a business, but, being a felon, it seems like a reasonable avenue for my future to figure this out. + +Any advice? + +Thanks + +Edit: Thank you for all of the excellent advice. It's nice to hear success stories from other felons out there. I think I am going to start learning a programming language and see how it goes. If I enjoy it, that may be a better future than what I'm currently looking at. I have a lot of time on my hands and am starting to get really bored trying to figure out what to do. I need to focus on something specific and work towards an attainable goal. + +Edit 2: Not a pedo or fraud. In fact, the offense wasn't that bad. It was a felony though. +I received this email from Wavecrest (the card issuer for all Bitcoin Visa cards): + +> Dear Cardholder, +> +> We, WaveCrest, are the issuer of your Visa Prepaid card, which you have enrolled for through one of our program partners. Visa have today instructed us that we must close all WaveCrest issued Visa Prepaid Cards with immediate effect. +> +> How will this affect you? +> +> Your WaveCrest-issued Visa Prepaid Card will no longer function. However, as your funds were stored in your e-wallet they will remain accessible to you via your wallet provider. +> +> We thank you for your cooperation. +> +> Yours sincerely, +> +> WaveCrest +> Wave Crest Holdings Limited is an electronic money institution licensed by the Financial Services Commission, Gibraltar. + +We're being oppressed! + +And ironically this kind of thing is *exactly* why we need people to take payment with Bitcoin instead of Visa in the first place. +[OriginTrail](https://origintrail.io/)has just released an updated version of their protocol that includes a lot of new features that their clients had specifically asked for in order to use the technology to it's fullest potential. I feel it could be an huge bargain at these prices. + + + + +It currently has a marketcap of **2.9m**, with a circulating supply of 289m and a total supply of 500m. + + + + +If you aren't already aware Origin Trail is a protocol that aims to make supply chains more efficient. They look to do this by supporting universal data exchange, connecting legacy systems and using blockchain to ensure data immutability. They have a functioning mainnet (the OriginTrail Decentralised Network or 'ODN') comprised of nodes set up by members of the community (Data Holders) and there are real jobs currently being input onto the ODN by companies using the protocol (Data Creators). + + + + +In terms of the token, Data Holders stake their personal TRAC in their nodes and this is then used as collateral for the jobs, with an identical amount put up by the Data Creators. Once the job has completed the Data Holder gets back their stake as well as the Data Creator stake. + + + + +[Here](https://youtu.be/2mquulet5TM) is a fantastic video by community member Guinnessstache on how the protocol works and why it is so useful as well. Well worth a watch. + + + + + +The token derives value from adoption of the protocol. The more the protocol is used the more TRAC is out of circulation in nodes and locked in jobs. They also have a clever system whereby the TRAC acquired by the Data Creators will automatically be bought directly from the books on Bittrex putting upwards pressure on the price, with the added benefit that their clients never have to hold crypto on their books, or even to ever know they are using crypto! (This integration isn't yet in place, planned for early 2020). + + + + +Why do I think this is a great moonshot? + + + + +1. As mentioned before the updated version of the protocol came about as their clients specifically asked for additional functionality before they would use it. It's here now so will likely result in an uptick in number of jobs on the ODN. +2. The update to the mainnet went live on 26 December and there has already been triple the number of jobs daily (these can be seen on this community member made [website](https://othub.origin-trail.network/dashboard)) if the number of jobs stays steady this will push the nodes into profitable territory. This is only off the jobs of one client by the way - OBE Organic. Other clients should start to put more jobs on the ODN as well soon, most notably [BSI](https://www.bsigroup.com/en-GB/about-bsi/media-centre/press-releases/2019/january/bsi-partners-with-origintrail-to-develop-blockchain-enabled-solutions/) and [EVRYTHNG](https://evrythng.com/upgrading-our-partnership-with-origintrail/). One of Slovakia's top chicken retailers have been [successfully using the ODN](https://youtu.be/NZoz1n_wPXE) to track organic chicken on the ODN since April. +3. Further to the above point, the strength of the partners is well worth mentioning. BSI are one of the world's most highly regarded certification bodies and have exclusively partnered with OriginTrail for blockchain solutions. EVRYTHNG are an IOT provider who count Avery Dennison amongst their clients. A proof of concept using OT tech can be read about [here](https://medium.com/origintrail/origintrail-becomes-oracles-partner-for-blockchain-technology-d5b29228bf8c). +4. The team are really focused on ease of use and reducing pain points. As a result of their [partnership](https://medium.com/origintrail/origintrail-becomes-oracles-partner-for-blockchain-technology-d5b29228bf8c) with Oracle, Data Creators use software called the Network Operating System (NoS) which presents a really nice GUI for clients to use to manage their nodes. More info and some screenshots can be seen [here](https://tracelabs.io/network-operating-system). +5. This has been a massive sleeper in terms of price, falling way down to 2m marketcap at one point. It has absolutely huge growth potential. + + + + +The price of the token has already seen an uptick recently, gaining 40% on the weekly chart. It feels that recent update has basically removed almost all of the barriers to adoption of the protocol. I think the main challenge now will be to get additional businesses on board now the technology is ready. Further adoption will be needed to keep the price moving up. + + +I am interested in buying 50 acre piece of land for the purposes of building a home. I have a budget of around 1.5 mil for the entire project. This land's asking price is around 670,000 and is heavily wooded, so part of it will need to be cleared. I am thinking around 2 acres to be cleared. I have no idea how much it would cost but a custom builder said they would charge approximately 5000 per day. + +The land has been listed on [realtor.ca](https://realtor.ca/) for more than 12 months (don't know exactly how many months but at least 12) which is why I think they would accept a low offer. There is also a small pond looking thing in the center of the lot that is around 1/4 of an acre. It also says in the description that its a "motivated seller!!!" and said "make an offer!!!!!!!!" + +With those reasons, should I make an offer around 400,000 is that way too low (40% off asking price). + +In short: Want to buy vacant land. The land has been in the market for over a year. Its an ideal piece of land for me but would be out of my budget if I payed asking price. I am thinking a 40% reduction in asking price would be my offer. The description says motivated seller and says to make an offer +In the market for a SFR that we are going to used for STR. Has anybody used this type of loan before? The property is in a highly desirable area so paying for mortgage really won't be an issue for the most part, but we were thinking if it would better to pay interest only right now, and use the extra capital to buy another property in the near future. I know this doesn't add equity to the property other than any increments to the value of the property, but it might give us cash leverage to buy additional properties in the short term. Thoughts? +Me and my family have begun investing in properties in a town near Beacon, New York. We currently own 2 multi-family properties in the town. Long story short, the mayor called us because there was sidewalk construction going on in front of one of the properties and the conversation of us investing in the area came up. He asked to meet with us and talk about our plans and his plans in the town. + +&#x200B; + +I thought it would be great to crowdsource some of the things you would ask given the opportunity/had the opportunity to do so in the past. + +&#x200B; + +Some things I plan on asking him (just to get the party started): + +1. What do you envision the town being in 10 years? The average age of the population is 35 and family size 4. +2. What is the breakout of rented vs owned in the town? +3. Are you seeing high rental demand or high purchasing demand in the town over the past 18 months? +4. Are there target areas your administration is looking to improve? + +&#x200B; + +Let me know your thoughts! +I have enough for my down payment , closing costs and some cushion after paying off my $10,000 debt. I just got preapproved for a loan but I am wondering why she would tell me that. She told me it was so I can have cushion for any addition repairs or extra closing costs but is this just so my debt to income ratio can be really off and she and the underwriters will make me get a really high interest rate? + +Thanks in advance +Finally have enough for my first investment property! Not sure if I should buy right now or wait it out for a potential crash. Wanting to hear what those with experience think! Thank you in advance for any and all advice :) +So I THOUGHT I was doing okay - debts mostly settled, getting expenses back from work after a long time, have $600 in my savings (I'm moving next year and need a fund) - my car only had to last until February and now the exhaust is broken and will need $500 of repairs. The car is hardly worth that to fix. Don't know what to do. The last time I thought I was doing okay, my old car needed sent to the scrap yard, so I bought this runaround for 6 months - it has lasted 4. + +This is purely a rant because I know I need to fix it but I'm so upset. +#The rate of new CS accounts over time : + +34,000 in October + +15,000 in November + +17,000 in December + +10,000 in January + +8000 in February + +10,000 in March + +**12,000 in April** + +Awesome job!! + +According to the trimmed average on computershared.net by u/jonpro03, which was recently proven to be highly accurate, the average shares per CS account is now 80.79 and the CS account high score is 150. **This brings our DRS total to 12,118,500 shares as of Apr. 30/end of Q1.** That’s 34.9% of the free float or 19.2% of the whole 63M float! (outstanding minus insiders). + +My biggest worry about how long it will take to lock the float is that once all current apes who might DRS, but still haven’t, actually finally DRS, the CS account high score will completely stop growing. This day is just around the corner! **Let’s face it, with the dividend stock split news, if any current ape is not DRSing in May before the June announcement, they’re not going to.** Then, our DRS total will only increase by the amount of shares existing DRS apes are adding plus any new investors. Then, instead of our numbers growing by ~1.23M per month (based on Oct. 30 - Jan. 29 GameStop earnings release dates), they will only grow by, optimistically, 750,000 per month (if all of the 150,000 existing CS accounts add 5 shares per month). At this reduced rate, it would take over 5 years to lock the 63M float! + +#This is why these 3 things are CRITICAL!! : + +1. **We need to educate the masses outside of Reddit what DRS is, why they should do it, and why GameStop is an incredible investment** This is exactly why we started **www.drsgme.org**! +[My Twitter script](https://twitter.com/Millertime1216a/status/1515480649146241031?s=20&t=gTGyrdRiFRIYQFQZ-m2nOw) + +2. Apes with money tied up in **”other investments”, consider converting those to GME and DRS**. What other investment could possibly compare to GME?!? Even IF others can squeeze, they can’t squeeze like GME and only GME has a massive turnaround plan. + +3. Apes with shares in brokers that will not DRS or transfer to another broker, such as **Etoro, T212, and Freetrade : think about selling and re-buying elsewhere!!** It’s the only way to DRS with those 3 brokers and keep them from screwing you over. If, LOL, they don’t have shares anyway, selling and re-buying hurts nothing! Please **don’t trust your millions to a broker that won’t DRS! Seriously, go read their TOS. Or check out Etoro’s [response ](https://www.reddit.com/r/Superstonk/comments/ufsspm/the_other_day_i_contacted_etoro_to_ask_about/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) to this ape!** + +All too often I see others using ~33M as the float, but I’m convinced that is wishful thinking. Existing shares of 76M minus insider shares of 13M = 63M shares that probably need to be DRS’d. Do you really think hedgies can’t use NON-DRS shares (institutional, mutual fund, and ETF) to continue their manipulation?!? So, even IF there are actually 250,000 apes on Reddit (or others that somehow know about DRS), and even IF they all DRS, the average number of shares per ape would need to be 252 to lock the 63M. Obviously this will take a much longer time to accomplish. Even IF we continue to DRS 1.23M shares every month from now on, it would still take us until September 2024 to DRS the 63M shares. **Don’t give hedgies “one more day” !!** + +**Get to WORK and spread the word about www.drsgme.org to the masses outside of Reddit and DRS your max!** If you haven’t DRS’d, why not?!?! I don’t trust any broker now. I certainly won’t trust them not to screw us over with the upcoming dividend stock split or during MOASS and/or when they’re facing insolvency. Read your broker’s TOS. + +#Changing the world is what’s at stake!! + +#LOCK THE FLOAT!!! + +#TLDR: DRS your max! Spread the word about drsgme.org + +🦍💕🦍 +I for one don’t think it’s here yet but all those bearish posts got me thinking. What would the majority do during it? We all say we will buy the dip like madmen but do we all really have the balls to do that when we see our portfolio going -90%? + +I have been in 2 crashes and been DCAing in the dips and thus I am still sitting in gains territory. But most people will sell especially new retail investors. I have heard people saying that they will HODL and just wait. While some optimist believe they can time the market. + +I will just continue with my DCAs, staking and HODL. + +And whenever we see some nice green gains I might take out my initially investments. + +What would you do when it happens? +I've seen a few posts now about only investing in US stocks and it's crazy that Americans are being conservative while the dollar is so strong compared to every other currency. You have an absolute land-grab opportunity here akin to when your grandparents traded warships for literal islands during WW2, and that didn't turn out too badly at all. + +US stocks will remain king, but you don't own the entire company you invest in, you own a small part, and profit off the percentage gain of a stock (and dividends) and that's it. One of the fastest growing economies in the world in the last few years has been Bangladesh - not because their annual GDP beat USA or China but because they grew a greater amount compared to where they were the year before. I'm not saying invest in Bangladesh, but if Europe sinks you should be diving at the dip, not running away from it, because the % gain in their recovery will be greater. Obviously if you're 50+ years old and are scared of a little volatility don't bother. + +This sub seems to miss the mark so much with rallies and dips: + +"This is the new norm, interest rates won't be raised much or it'll crash the economy" - just before Dec 2021 crash. + +"Oil is dead, no one is buying it and renewables are only getting more advanced" - Aug-Sep 2020, oil steadily rises for a year after that. + +Now the rest of the world is dead? That's a buy signal. + +Not talking about S&P500 vs Europe, S&Ps record is good and safe and most of my holdings currently are American companies. But my focus will be on international stocks for the next while. + +My portfolio changes frequently but in the last year or 2 I've had: +Ferrexp0 (sold for 60% gain) +BP (sold for ~50%) +ING (Dutch bank, down 10% and holding, will continue to buy more) +ASML (holding, even) +Freyr battery (60% gain, holding) +Evr@z (Russian iron mine, assets froze so forced to hold, but no losses this year because of that lol) +SBSW (South African PGM mine, down 50% because miners went on strike, intend to buy more because their cash flow is insane) + +On my radar is AMAT and C, and will open a position in mining with RIO or BHP, but not sure which. +I could not be prouder of this subreddit than I was after watching Wes Christian on Fox News today. This movement, this ideal, this belief that an individual person can make a huge difference is truly playing out in front of all of us. It's unbelievable to me that 6 short months ago, hedge funds had free reign to do whatever the hell they pleased, in the dark, without consequence. Now, with every step they take, there's a shrewdness of apes, both wrinkle and smooth brained, banding together to bring to light these very practices. + +Hats off to the mods for being engaged, active, and passionate about the movement. I don't just hodl for tendies, I hold for humanity. +Hi guys. So as a relatively new investor, I got in at Apple at 215, Disney at 95 and also did an etf at 240. We're going to be seeing big gains tomorrow so overall I'm going to be up about ~20%. + +Chances are, the stocks will probably go up a bit more in the next few weeks and I may be prematurely selling. But I'm going to be laid off in the future and I also think that in the future, the market will drop. A 20% gain since 3 weeks ago seems solid in this uncertain market. + +So I'm likely going to take the gains now and ill test the market again when that time comes. I have a decent amount in savings but I think we're close to the peak before it'll slowly drop down. It probably won't test the March lows but hey, profit is profit. + +Want to wish you guys luck with whatever investment decisions you decide to make +I've been subscribed to this sub for a while and I'm actively on the road to FI in the traditional sense but a top post today got me thinking about how much different my version of what FI is seems to be from others. + + The post was about not knowing what to do with yourself in FIRE. I can't fathom the idea of quitting my job and then not knowing what to do with myself. For me FI means I get to do all of those things that I want to do now but don't have the time and I'd need two lifetimes of FI to do all of them. So I have no shortage of hobbies and things to pursue. I've never even considered FI out of the context of a way to finally start doing all of those things. Audition for a musical, buy an unlimited Amtrak pass and train around US for a month, learn more foreign languages etc... But I've realized that none of these things require you to be out of the work force, they just require time and flexibility in your life. + + +With that said, I know there is an exact definition (having enough passive income to not have to work ) but I love what I do for a living, my profession is high paying, continues to evolve, and it was a hobby before it was a career, so I don't actually plan to stop doing it if I don't have to. + + +I already have great flexibility but for me FI means letting my work be more independent from external factors and to have the ability to always decide when and where to do it. It's the most basic version of the FU fund they talk about in The Millionaire Next Door. + + + For me FI means being able to spend the summer in the Azores or backpack the Milford track and not have to worry about losing a job while doing it but it doesn't mean not working anymore. With that in mind my FI number only has to be enough money to support my very basic necessities, and I am confidently able to say that I will be able to make income on my own time, in between my hobbies so I am also able to factor a certain amount of that income in to my plans. + + +This doesn't change much about the way I deal with he basic principles discussed in this sub. It just means that I'll get to my golden number a lot sooner and be much more well diversified against market risk because I still have a sweat component to balance things out. + + +So why am I posting this here? I'm interested in talking to others with the same plan and I also had a thought for those of you who really hate your job and FI is a way to get out of it, this seems to be a good number of people on here. I'm not so convinced that FI is going to make you happier if you don't have purpose and focus once you retire. +If anyone else is struggling with this or maybe losing the motivation to keep at it you could reframe your FI goal as a "second career fund". How much money do you need to have enough passive income to feel safe transitioning in to an engaging and extremely flexible career that you love without eating in to the principal too much? +READ THE WHOLE FUCKING THING. + +I don’t care if you only want $1k because you’re already a millionaire at that price. (After the peak) If your floor isn’t AT LEAST 10 million, you need to get some shit straight. + +It doesn’t matter if you are only holding for the X apes, it doesn’t matter if you’re only holding until the last second to just become a millionaire. IT DOESN’T MATTER! + +Instead of only taking what you feel that you deserve, take MORE than what you deserve and DONATE IT. Being greedy doesn’t always have to be about YOU! It can be about being greedy for your family, your friends, the people who love you. Give back to your teachers who inspired you, the community that raised you, the hospitals that nursed you. GIVE BACK. Be GREEDY AS FUCK SO YOU CAN GIVE BACK. + +Also, if there are any apes who want to talk with others who are like minded, my DMs are open. I understand that it’s difficult feeling like you’re the only one who knows what’s going on. We will need each other more than ever during the MOASS. Find a trusted ape buddy to talk to and set your heart straight! + +I love you all. 🤤🥴🦍💎🚀 + +Edit: had a few DMs come in and you guys are awesome. Keep em coming! I’ve got nothing to do but enjoy life :) +Daily CS high score TABLE GUY here. For those who are sharing their CS account #'s for the daily high score, may I add a request? + +First, a MAJOR shout out to u/stopfuckingwithme for taking this on. Up until now most of our DD has had to rely on best guesses for many things. As CS account numbers really are looking to be sequential, THIS IS A COLD HARD DATA POINT THAT APES CAN TAKE TO THE BANK...LITERALLY. + +So, if I might request 4 or 5 pieces of information if they are willing. + +1) The account number. E.g. 29XXXX or 297XXX depending on how comfortable the ape is with the 3rd known digit. Btw I would LOVE to get to 7 digit account numbers... just sayin'. + +2) The date the transfer was initiated. + +3) The first date that shows up on your CS DRS pdf statement... it should be the date of the CS account creation. + +These 2 dates give us an idea of how easily shares are being located to transfer. We can watch the trend. + +The next two are completely only requested if the ape is willing and comfortable enough to share. + +4) The broker whom you transfered from. E.g. Fidelity, TD, etc + +5) <removed> + +These last two would allow for tracking if certain brokers are struggling more than others. <removed> + +I am a data geek so this type of data definitely jacks my mammories. + +I have seen a HUGE uptick in posts that are complaints about various brokers and how long it is taking to complete the DRS transfers. If you are willing to share all 4 data points, it might go a long way towards showing how low the liquidity has become AND it might act as a level of proof if people are filing complaints with their state boards. + +Be well. Buy, Hodl, Register, Report + +edit: removed the request that violates position posting. Please do not send any quantity of shares information. +Just putting this information out for investors who may not have children or a reason to keep up with schools, but today we got told that (in Georgia at-least), schools will be shut down for the rest of this semester. No more school till after summer break at least. Not entirely sure how they are gonna be handling year end testing, but I’m sure it will involve a “virtual” way, just like all the school work we’ve been doing on Schoology, Moby Max, and Clever Portal. + +People much wiser than I may know what to do with this information, but just thought I’d pass it along. We are also getting a new “shelter in place” order. Most small businesses here are getting completely shut down, and the police have been way more active with curfews. + +Regardless of the virus’ actual spread rate, the fear is spreading more so. +So I'm taking a break from Bitcoin development, traveling with my family in New Zealand. + +Today we had perfect summer weather and a fantastic whitewater rafting trip down the Clutha Mata-Au river. It was just the four of us and Finn, the owner/operator/guide of [Pioneer Rafting](http://www.ecoraft.co.nz/). + +I'm always happy when I run across people like Finn, who love what they do and are happy to share their love of where they live with visitors like us. + +In the middle of the trip we went ashore to have afternoon tea (with tea made from the native tea-trees that grow all alongside the river), and somehow the topic of banks and bailouts and screwed up financial systems came up... and I heard a word come out of Finn's mouth that I **really** didn't expect to hear from a gray-haired New Zealand river guide: + +> Finn: ... so I think a system like Bitcoin would work better. + +> Me: You know about Bitcoin? + +> Finn: Sure! It is a more democratic form of money... (followed by a great conversation about money, banks, New Zealand's devaluation of their dollar in 1984...) + +That made a perfect trip even better-- he was more than happy to accept payment in Bitcoin, and had, in fact, modified his website yesterday to add it as an acceptable payment option. We had no idea... we were mostly off the net yesterday. + +I'm often asked by journalists "what's the best thing you've bought with Bitcoin." Today's rafting trip will be my answer from now on. + +And if you find yourself in Wanaka, New Zealand, [book a trip with Finn](http://www.ecoraft.co.nz/)! +Without further ado, these are the 10 winners of [the Nano giveaway](https://np.reddit.com/r/CryptoCurrency/comments/pztksp/hi_redditors_im_giving_away_110_nano_500_and/): + +u/_ButterCat + +u/zemadd + +u/redchanterelles + +u/FuckTheMankind + +u/GarethGore + +u/serpico_75 + +u/Kernal_Cletus + +u/SPOGSTER + +u/LitePenguins + +u/AccomplishedWasabi54 + +Congratulations to all! The prize pot started out at 110 Nano, but thanks to a lot of generous donations, it increased to 172.158623 Nano, equalling roughly $1000 at current Nano prices. This means ~17.22 Nano to every winner, or roughly $100 each. The prizes have been sent out to the winners. + +The generous donations lead me to the next thing I want to mention: I'm so genuinely impressed with the community on this giveaway. We had set this up with just three people sending me some Nano for funding (thanks a lot!), and with Shryder (u/redsilverbullet) setting up a bot to send out the tips. The giveaway then shot so far out of control that comments were flooding in at literally 1 per second at some points, causing Shryder's bot to run into Reddit API limits after which a dozen people offered to help him out. + +Then the bot started running out of funds, and at least twenty different people (that I know of) sent Nano to keep it going. I couldn't respond to all the questions in the thread myself, and saw a dozen people jumping in to help answer. When people went to r/nanocurrency with questions, there were yet more people there answering and helping. + +All in all, it felt like one of the better showings of cryptocurrency and I'm pretty happy that we got r/cc to #1 on r/popular with such a positive post. + +# Facts and figures + +At the time of closing, the thread had ~38,433 comments. That's 1601 comments per hour on average, or 26 per minute. The tipping bot sent out 20,909 tips of 0.01337 Nano each, for a total of 279.55333 Nano (~$1,600). Add to that the 172 Nano sent out for the winners, and a total of ~$2,500 was sent out. All community funded. + +As this was done with Nano, not a single cent was paid in fees for these 20,000+ transactions, and every transaction sent was fully confirmed within a single second. The energy network usage for this was ~2.4 KwH, roughly equal to a single cycle on an electric dishwasher. + +# Proof of random selection + +Transactions for all tipping were sent from nano_1senatusn5a1kutkt91pr1czefki47ed56g495syg1uf6dghqokrmczgy4cy. A total of 20,909 transactions had been made when I decided to close the contest (a little after 24 hours). + +I then did a transaction from the prize pool address (https://nault.cc/account/nano_1cmgewwzg1eiwroib8btqtcgaw7yox8dsc8kikb8t95anb4qpi6byfibaapk) to itself, to create randomly generated hash: 434C0A154CC45F2E75554A7CC05B6598A3421D12DF67BF372E604DD470A7FFF4 + +Using https://www.stat.berkeley.edu/~stark/Java/Html/sha256Rand.htm to use the hash to generate 10 random numbers between 1 and 20,909: Seed 434C0A154CC45F2E75554A7CC05B6598A3421D12DF67BF372E604DD470A7FFF4, current sample number 0, draw 10 objects. + +Result: 953,1442,5966,6590,9292,14940,15575,16973,17704,18910 + +You can validate this for yourself. + +Looking up those block heights: + +953: https://nault.cc/transaction/1E6AD44A5A1752C301EB91F87176AD094D8E7C1211C974DC1EC054194E348299 + +1442: https://nault.cc/transaction/F479CC71D98F0B9A5F4A31798B8555187899783E0B6CDC31E83C39D131D7C7B1 + +5966: https://nault.cc/transaction/87DFE09B3A03BC62D7B1C72039B75ECA2403E5483D133FBD36EA91CC7D3FA4D8 + +6590: https://nault.cc/transaction/2555004F840C3F9F7A1D048458044077BE430AA3F512DACC14555C5D9F8A82BB + +9292: https://nault.cc/transaction/06F0190DF76E7F324F33661C4B950F0A4CE89E9896BEA2E7E06D135789098155 + +14940: https://nault.cc/transaction/E802E01969ACA8EF26BF714D8C8E77F719444A0DEABDF9002EA36167E8789724 + +15575: https://nault.cc/transaction/D17B77C0AD6819EB6C29FAD47D3B5FB1043ECAB2E59BB7719AA545F190D0AE1C + +16973: https://nault.cc/transaction/6BCA39761B1317D0904B180560D28F42F37B1EB842D662BC28C7E2F11ABE8F08 + +17704: https://nault.cc/transaction/790EC1F4F35BD496030EDC25DF357D1DC1864D21A236E5DD8C9637788103038D + +18910: https://nault.cc/transaction/71DD70639E58B2E8C4FF4746D42DBDB029391691EDA188993F2A70C87F34BC94 + +Corresponding addresses: + +nano_34qyxdwoqayey4cpuee6yjn7k57e48cuuaj5txhfmns3egjqott1a6edt795 + +nano_1zxbxfobctmjybh5ogjx38fjsxc5cmpnh7j7qdwsxfsapenxzajtyzr3tnrb + +nano_1i7o4haizc8an1z67wcdpph6sjmcsudgqyd81bqps6rerywmzmbgysmhszs3 + +nano_1si978mo8thhc1h4j5izzs7i5tdednapiac5sw44phzutxuf4w5zmn8wdqn8 + +nano_1jiige5m3t8qzeiiia8wiig5tnd3y6a6849d3cbuozgin36qyyjk9cwa8fgj + +nano_1tby4etqi34tw835xdspfqamcoc8fgptcf93rd6qxen744uxujgcpbtgtqyf + +nano_1przt41uci93kcywdw1ihimrxxyn5w1g1no657uzu3n5rqqmtgf3jhtadm6u + +nano_1jcm3mm4oryd66oakhbco7noz7e8wkmkzco84sae9nsedrofknt6jmpd3yik + +nano_3mt5kcwk7x5y6g4a3a9tt9bsqph8d9i5m64d6pqfkeruxud7dzeoziz3r7tr + +nano_3fyfdzz9zae9nm7kqxez6otu1azigy961w6ceag7e7tk35dboh446tjq9ty5 + +# For those that missed it + +The bigger giveaway is over, but you can still try Nano for free by grabbing a wallet (Natrium (**[**iOS**](https://itunes.apple.com/us/app/natrium/id1451425707?ls=1&mt=8) **|** [**Android**](https://play.google.com/store/apps/details?id=co.banano.natriumwallet)**) or** [**www.nault.cc**](http://www.nault.cc) **(desktop) are recommended) and visiting one of the faucets handing out free Nano below. + +https://nanocafe.cc/faucet + +https://freenanofaucet.com/ + +https://nanodrop.io/ + +https://www.trynano.io/ + +Thanks to everyone who joined! +We know you lurk or perhaps even contribute here. We have had enough of you shitting on us. Leave us the fuck alone and stopped bringing us more eyeballs. We don't need it. + +Instead why not start posting your DDs here so we know what to inverse. +CoinsForTech is fast approaching our 1st birthday and I wanted to give an update of what our first 9 months as a bitcoin-only merchant has been like. I really think we provide a great service and have grown incredibly well since our launch. This is with no mentions from blogs and very little expenditure on advertising. + +There are some figures and statistics below which are incredibly positive. I am most proud of our widespread customer base as accepting bitcoin has really been a game changer here. We do good volume in areas flagged incredibly high risk and have not been scammed once. Not to mention the instant irreversible payments and almost non-existent fees. **IF YOU ARE AN INTERNATIONAL MERCHANT YOU SHOULD BE ACCEPTING BITCOIN.** I cannot stress this enough. Incredibly low start-up and ongoing costs, clear market from bitcoiners wanting to spend, irreversible and instant payments worldwide – what have you got to lose? + +* Since our launch we have sold over $300,000USD of electronics to customers across nearly 40 different countries. All of these sales were in bitcoin. You can see our order map [here](http://coinsfortech.com/about). If our current growth continues we will break $500K revenue for our first 12 months which is awesome, especially given lack of marketing. +* Of these sales we have been scammed a total of zero times. This is an incredible testament to bitcoin as we are in an incredibly high-risk market. I have been in electronics reselling for several years and never have achieved remotely close to a 0% fraud rate. Quite ironically we have had three attempted scams – each of which tried to pay using credit card. +* **Every day we are transferring HUGE amounts of money between countries with very little reliance upon current banking infrastructure**. We are doing this incredibly cheap and quickly compared to fiat business as well. In March alone we have processed over $50K of orders across 15 separate countries at a fraction of the cost of non-bitcoin businesses. +* We are active in several high-risk markets. In fact, customers in areas such as India, Israel and Pakistan are some of our best. We could never ship to these countries using a system other than bitcoin. We are honestly comfortable delivering to some of the most high-risk countries due to the nature of bitcoin. These markets are now ripe for the picking as our products are significantly cheaper than they can find locally and there is no currency conversion barrier stopping them purchasing from us. +* We have many customers that replace the bitcoins as they spend them. They are using them as a method of payment rather than for speculation. Depending on the market, it is cheaper for many to use bitcoins and purchase internationally than it is for them to use fiat and source locally. +* We just recently broke 1,000 products listed. It’s worth mentioning this is just a fraction of what will be available. Think software, much more camera equipment, video games, fragrances, make-up and a HUGE amount of computer components. I seriously mean huge – it’s going to take forever to get them sorted. + +Lastly, some of you might be interested in the free shipping promo we launched for 48 hours as of last night. + +Free shipping via DHL, EMS or FedEx is available on all tablets, gadgets and gaming consoles to over 20 countries. Video games themselves are sent by AirMail. For more info a full list of supported countries please see here - http://eepurl.com/QxSqn + +I'm currently a student at University and may be finishing Uni in 2 years and was wondering what would happen to my student loan debt if I was to die? + +Would it be passed on to someone else or would it be written off? + +Also what would happen to any unspent money attained from the loan? Would it be passed on to my parents or something? +Hey guys, + +Long story short; I've got a friend in China who wants Bitcoin (but can't buy it there), he wants to send me money and pay a markup and I'll buy the bitcoin and send it to him. + +So the plan is to setup a Ltd, business bank account etc. Take his payments, keep 1%, and use the rest to buy bitcoin to send to him. + +Basically the same thing that happens over here: https://localbitcoins.com except it's "1 and 1" vs "1 and many". + +Volume will be around £100,000 to £200,000 weekly. +My husband and I are barely living paycheck to paycheck. Almost all of our bills are overdue. My husband managed to get a credit card for $300 and maxed it out almost immediately. I somehow was able to get a credit card for $3,000 and was actually very careful with it, always paying off everything-- until now. + +I was stupid. I paid $300 with my credit card to go to a therapist that was not at all what I expected. I planned on it helping me in the long run, since I suffer from depression, but that doesn't seem to be working. So that's $300 down the drain. + +Then I paid all the bills in full. That hurt even more. More than $400 dollars, gone. I haven't even mentioned it to my husband yet. I honestly don't know how to. + +Then today, with so many sales going on for Black Friday, I was even more stupid. I got my husband his anniversary present, my daughter some pajamas that she needed, the entertainment center that my husband had been talking about getting for a while. I even finally broke down and bought myself a refurbished laptop, something that I've desperately been needing. + +I know that all of this equals out to over $1000. I know that the majority of it is stuff that we needed, but now it's going to be forever until I pay back all that debt. Talk about buyer's remorse. I honestly hate this. I know that there are plenty of things that I should be grateful for, but right now, all I can think of is how long it's going to take to pay it all back. + +I guess that was more of a vent than anything else. + +Thanks to anyone who actually read it. +Last night I watched a really interesting and pretty scary documentary about an ex-professional football player (Paul Merson) who's struggled with a gambling addiction most of his life. There was a part in the show where someone was going through some bank statements of another addict, and there was like 7 or 8 deposits to an online betting company in a day, A DAY! + +Yet here we are, getting messages from our banks saying we cant deposit into Binance/coinbase etc *for our own protection.* Strange how people with obvious addictions can feed a betting company as much money as they can get their hands on, but someone wanting to try and make a better future for themselves needs 'protecting'? + +Here is the documentary for those who are interesting and can view it - [https://www.bbc.co.uk/iplayer/episode/m0010l43/paul-merson-football-gambling-me](https://www.bbc.co.uk/iplayer/episode/m0010l43/paul-merson-football-gambling-me) + +Ok rant over + +\*Edit - thanks for the awards kind internet strangers +Sorry if this seems like a silly post but I am absolutely blown away that my comments and posts on this subreddit are paying my bills. + +I tried to explain this to my parents and a couple of friends but they couldn't get their head around it, they still think I'm some crazy bitcoin investor who is gambling his money like a mad man. + +The whole reddit moon concept is genius and I am truly impressed at how the community has handled it so far especially with the ability to vote on key issues and how they are distributed. + +I guess all I can say is thank you and I hope they are all helping you as much as they are me! + +Edit - people have asked what moons are so I have copied and pasted a summary i wrote a while back as a reply in the comments +I've often wondered how Mitre 10 has not caved under it's competition with Bunnings, can anyone help me understand the factors that have helped keep it alive? +Hi there, + +Have been considering subscribing to the Australian Financial Review but thought I'd reach out to see what people thoughts were on their subscription. + +Is it a worthwhile investment? + +Thanks. +Hey Guys, I have just finished grade 12 and am looking at doing a bachelors in economics as the topic interests me and was one of the few subjects I enjoyed at school. A few questions: + +1. What are the main careers you can get into with a bachelors of economics and what would you recommend for both enjoyment and salary + +2. How essential is coding for a career in economics + +3. Bit of a random one: are American college degrees recognised in Australia, as I may have the opportunity to study overseas + +Edit: Thanks so much for all the replies, didn’t expect this many and they’ve all been super helpful +I have absolutely no need for a credit card. +But I am feeling some pressure to get one to improve my credit score with the plan of getting a mortgage in the next few years, and I don’t understand the benefit of it. + +So here is an example: +My credit score is in the “fair” category. +John’s credit score is in the “excellent” category. +We have the same income, same outgoings and same debt, etc. + +We are both applying for the same mortgage product which on paper we are both qualified for. + +Now, I understand the credit score means the bank knows John’s is good at paying back loaned money. +However if I meet the requirements and provide previous bank statements, outgoing, (which John would also have to do) wouldn’t I get the exact same deal? + +Is John in any way more advantaged than me in this situation? + +Edit: Answer is we will get the same deal and John is not advantaged as the lenders do their own in-depth internal checking so simply owning a credit card would not make any difference in this particular scenario. + +Thanks u/Excelerate23 +Hi all, + +I'm not sure if this is the right place to post this, so if anyone has any better suggestions, please let me know. + +My partner and I have both gone to university, and both graduated around 5 years ago. Since then, we've moved in together, and now have a mortgage. We are living fairly comfortably, but this is because we bring home around £63k a year between us. + +My partner wishes to go back to uni (he would be a post graduate, so wouldn't as far as we know, be eligible for funding support). + +If my partner was to work part time, it'll take our yearly income to slightly under 50k. I know we are in a better position than a lot of people, but I'm not sure how we would be able to make ends meet. Moving out of our house would not be an option. We could maybe rent our second room out, but our house isn't that big, and I think we would struggle having someone else living with us. (This would be a last case scenario). + +We both have some debt still, however are working hard to pay this off. I should have paid it off by October 23, and him Feb 24. + +Does anyone have any suggestions as to how we may be able to cut back, any ways we might be able to get extra support whilst at uni, or anything else I might have missed please? + +Thanks + +Edit: thanks for all the feedback all! It's been a busy day, I've not had a chance to read through the comments, but I'll get round to replying as soon as possible! Thank you x +"Tucked away at the back of Lloyds Banking Group’s first-quarter results this week were some startling figures. If the economic crisis were to seriously worsen, it said, house prices could fall by 10 per cent this year, then by another 10.9 per cent in 2021, then by a further 12.9 per cent in 2022. Overall, property values could fall by 30.2 per cent over three years, which would be unprecedented in modern times. The peak-to-trough fall in house prices after the banking crisis in 2007-09 was 19.4 per cent, according to Nationwide. + +The projected fall would send the value of the average home sliding from £223,000 to £156,000, reducing the wealth of the average owner-occupier by £67,000. Scaled up across the country, about £2.2 trillion" +Someone is putting me up right now, I've been without a home for about 8 months. He had a room, but he didnt have a bed. I have Muscular Dystrophy so couches mess me up. I been sleeping on a comforter, on the floor in this room. He's not doing great either, so we dont run the heater a lot. So I basically had 2 options which was warmth, or something between me and the floor. Its been hitting 20F at night where im at and i been feeling it more than I wish I was. I put together some money last week and got one of these pads and holy shit what a game changer. I managed to get a green dot card, which allowed me to get the 13 dollars in my paypal onto the card which allowed me to get a second one today!!! Its only 2PM but I want to go to bed already. The thought of the second pad AND using the comforter is almost erotic. So just a heads up. If you're not on the street, and you're lucky enough to have a roof and a floor, try to get one of these pads. Its mainstays theyre not very thick but its a big difference. I need to find a cane next, which im thinking the drug store is gonna have, but the thrift store is probably gonna have more and theyre gonna be cheaper. + +BUT if you know where a guy can get a cane (im 6'4) that would work please send me the info. Im in California if it helps. + +Stay strong, stay warn, keep fighting. Were gonna make it. + +UPDATE: Fuck that! Thrift store for sure! Canes are insanely expensive!! +When it comes to finding ways to save more and spend wisely these three things are my main obstacles. Starting today I am weening myself off of them. Every cent counts and I can’t waste a single penny on anything that doesn’t enrich my life long term. Wish me luck! +Long time lurker, but I wanted to share my recent experience trying to buy out the lease on my 2012 Chevy Cruz from the dealership. From all the posts that I have read on r/personalfinance regarding financing cars, I knew that I needed to do my research and know going in what APR I should get with my credit score and credit history. After finalizing the remaining balance and looking around online at different financing offers from banks and credit unions, I knew the range of APR I should be getting. I applied for financing with the dealership hoping that I would get a low rate so I could continue paying their bank. Once I had meet with my salesman, he reassure me I was getting the best rate since my credit score is above 800. This was giving me hope. I sat down with the finance manager and then he showed me the rate, which was more than 2x what I knew I could get elsewhere with my credit score. He tried to sell me a story about how the limit on my credit cards are too low, even though I have had my credit cards for over 10 years and $0 credit card debt. I had to hold back a chuckle. I thanked him for his time and left. I left feeling taken advantage of. Even though I didn't ask, I wonder how much they marked up the rate. So I went to a local credit union that is a couple blocks away from my house and applied for an auto loan through them. To my surprise, they actually approved me for an APR lower than what I was expecting. I go in today to finalize the sale with the dealership and figured out I am saving over $500 going through the Credit Union. So don't think that dealerships have the best for you in mind, shop around. You might be surprised with better offers out there. +Those of you still living at home, do you find shame in it? I'm 20, a man and I work full time. I live at home and my parents are completely fine with it. I manage to save £1000 a month, and I give my mum £300 in rent. + +Have the times and attitudes towards this changed? I'm single, and I don't have many friends, so I'm not in a big damn hurry to pay for the privilege of secluding myself even further than what I already have. +54 with about 1mil in retirement savings looking at retiring when i am 63 or sooner. Had been aiming at 2mil before i tap out + +If the consensus of the market indicators all point to a recession or stock sell off or bursting bubble within the next 1-6 mos...why would i want to stay in? Would tapping out and putting my money into cash or bonds until things bottom out be better? + +Yes i miss out on the volatility but in a Bear Market we are still going down and there is volatility , so that i miss out on, but hear me out? Wouldn't it make sense to dollar cost average buy ins on the way down (so new money) but take my existing money and tuck it away nice and safe under my mattress until i want to buy back in? + + Worst case i miss out on 6mos of volatility Best Case i opt in and dollar cost average the money i took out. + +My risk flags are all going up now and its getting harder to ride this one out the closer i get to Retirement. +54 with about 1mil in retirement savings looking at retiring when i am 63 or sooner. Had been aiming at 2mil before i tap out + +If the consensus of the market indicators all point to a recession or stock sell off or bursting bubble within the next 1-6 mos...why would i want to stay in? Would tapping out and putting my money into cash or bonds until things bottom out be better? + +Yes i miss out on the volatility but in a Bear Market we are still going down and there is volatility , so that i miss out on, but hear me out? Wouldn't it make sense to dollar cost average buy ins on the way down (so new money) but take my existing money and tuck it away nice and safe under my mattress until i want to buy back in? + + Worst case i miss out on 6mos of volatility Best Case i opt in and dollar cost average the money i took out. + +My risk flags are all going up now and its getting harder to ride this one out the closer i get to Retirement. +My partner and I have been together nearly 7 years. We’ve never felt the need to get married, but I’m getting a new job with considerably better pay. We are currently a single salary household as he’s finishing his degree. After his degree, he wants to start a business, so I think we will be a single salary couple for quite a few years. + +My question: what salary would it make sense for us to get married to save on taxes every year? In case it matters, we don’t plan to have children, so there are no real tax deductions in that realm. + +I’ve googled and looked at charts, but I don’t want to get it wrong because it could have a pretty decent impact on our yearly income. +All the shit I have to hear about it at work. + +All the fucking "I-told-ya-so"s from Steve. "I don’t know how finance or stocks or anything like that works but I know crypto is bullshit. People are so dumb they were buying fake money." + +Yeah, ok mate. If I need a status update on the contents of the fridge, I’ll ask you. Shut the fuck up and go back to being wank at your job. + +Then there’s Brenda, non-stop running her mouth how she "knew" Bitcoin was a scam when her cousin's boyfriend’s brother told her that the "bitcoin inventor guy" was selling all of his Bitcoins."It’s just numbers on a screen, that's not how real money works. It has to be something you can hold and put in your wallet! How can you even trust these people that can just shut down all of your investments with the press of a button!" + +Brenda, last week you were asking the IT guy if you needed to replace the ink in your monitor because it was too dark and now you have working knowledge of the monetary system and cryptocurrencies? Fucking impressive! + +I don’t know why this is annoying me so much, but I just needed to vent. + +Fuck off Brenda. Fuck off Steve. + + + +EDIT: + +A lot of people have come to conclusions that all I do is shill crypto to the entire office. I'm not emailing out weekly crypto newsletters or posting TA charts in meeting rooms. None of the above is directed at me in particular, it's just general chat around the office and there's a "comedy" flair on this post for a reason. Don't be a Steve or a Brenda. +I've tracked almost every £ coming in and out of my accounts and pocket, for a year. It's in a cool spreadsheet that I've learnt to love. I started it in August 2019, and now have a full year of data to know how much I spend on average, for a lot of things. + +My original idea was that this would help me budget. However this became redundant as my outgoings never exceed my income, and I'm able to save healthily. + +I just don't know what to do with this data. Should archive it, or just continue in the same spreadsheet? This is a pretty mundane question, but any insight would be appreciated. +I’m in my mid-20s with around 100k invested in a mutual fund. It’s a solid mutual fund (PRWCX) but one with 60/40 stock/bond mix, and since I’m in this for the long haul, I’m naturally open to upping my risk exposure. I have no debt and live a very low cost lifestyle, so I can take a bit of a swing, albeit I’m not going to be irresponsible about it. + +I know ARK/Cathie Wood has become a tired meme here, but the growth potential of her strategy seems compelling, at least to my novice eyes. If I’m looking to maximize returns over the next 5+ years in an ETF or similar investment option, are there better options out there? +Consider that SPY has a fee of 0.09%. + +This represents $450 per year on a portfolio of $500,000 + +Or IBB (a biotech etf) which has a fee of 0.47%, which is $2350 per year on a $500,000 portfolio. + +One could replicate these funds with individual stock purchases now that we have commission free trading. + +Maybe not worth it in the case of SPY, but certainly in the case of IBB. + +&#x200B; + +Or you could create your own custom index fund. Say you wanted a index fund comprised of only companies with CEOs under 40 years old or who are paid less than $500,000 per year any other criteria. + +&#x200B; + +Thoughts? +My second brokerage Schwab - a cash account - has taken a bit to long to transfer my xxx shares to Computershare (CS). First they claimed my information was incorrect and they did not proceed with a DRS transfer, they didn't call me on that....AFTER FOUR DAYS. + +Rather I had to find out by calling them. Then I get told, all information was "re-verified" and I'd have to wait AT LEAST another 4 business days. + +I get a hold of a manager, and then I'm told its 10-14 days. After what seemed like a stressed toned from the "manager" I requested to speak to a compliance person to file a complaint. + +I get told by the manager she'll file the complaint and during "quarterly" reports it gets forwarded to the "regulatory bodies." I proceed to ask; (paraphrased) + +M: "What is the issue exactly?" + + +Schwab: +"We have a huge amount of demand and its taking some time to process. DTC, CS, and us are having trouble processing it all." + + +Me: "What processing is needed? Aren't my shares already secured, a majority of my position is well over 6 months old, aren't my shares already assigned to me after this long? What's really going on?" + + +Schwab: "Reddit is causing a back up in the system, its overwhelming." + +Me: "I find that hard to believe, since billions of shares are dealt with a day. My XXX shares shouldn't be an issue, unless you don't have them. My shares have had plenty of time to settle and should be primed to move in a timely manner. Please tell me where does my complaint, processed by you, go to next?" + + +Schwab: "To a database that at the end of the quarter gets forwarded to regulatory bodies." + + +Me: "I meant in terms of who besides you will formally process this complaint, assign a case number, and decided to forward it to a regulatory body?" + +Schwab; "The complaint will be internally processed." + +Me; "Internally processed? I thought complaints go to regulatory bodies? So you have personnel filter these complaints and see if they move forward? + +Schwab: "Complaints will be internally processed." Rinse and repeat. + +Apes, I suspect any complaint through a " Brokerage Compliance" department will die in the compliance department...if it gets to them. I for one have started the process to file my complaint directly to regulatory bodies. + +The market is fake, Schwab is fake, my shares aren't real until they get to Computershare. Schwab will drag their feet, I will file every complaint there is to file and I WILL CALL EVERY DAY to check up on my transfer. + +Schwab, this last move has wakened the few of my family that thought I was insane. That family has invested in Schwab for DECADES. This interaction and delay has given them a mini red pill and they are ALL moving to CS, where I had a great interaction. My family is the market as a long position, they see the value of CS. I already helped setup my families DRS accounts. + +Eat my turd flinging ape shit Schwab! +So my wife, dental nurse/radiologist, has been advised to follow government advise to self isolate for 12 weeks because of her potential higher risk to CoronaV. She has been with the company for ten years and is one of 8 pregnant women (of 200+ employees) who are doing the same thing. + +Don't get me wrong, I'm all for her keeping away from all this and the mouths of the general public but we're slightly disappointed her work are taking the 'it's only advise, you could really be at work if you wanted to risk it' route with this instead of paying her a basic, or even part time, wage. Even my employer who I have worked for for 18 months, in an industry hit much harder than hers, are allowing me my 12 weeks because of a preexisting health condition on regular pay (granted, I have a greater capacity to work from home). + +She has suggested several things she could be doing from home to at least earn more than SSP but no luck. + +I appreciate many people are going through some shit at the moment but wondered if we had some leeway here? Cheers in advance. + +*EDIT - thanks everyone for your advice, kind words and messages. Think we have found ourselves a workable solution below in the comments. +Today I found out that due to an accident that happened in January, my insurance premium was going up to $92 a month. + +I couldn't afford that, obviously. So I did a search online and found another company. $51 a month after $100 down. That's even better than what I had with my old company before the accident. + +You never know what you can find when you look around. So look around. I'm glad I did. +[GameStop](https://www.cnbc.com/quotes/GME/) said Wednesday that quarterly sales declined and losses widened, as its inventory of video game equipment and more swelled. + +The company also disclosed [a new partnership](https://www.businesswire.com/news/home/20220907006127/en/) with exchange FTX. + +Shares of the company rose more than 10% in after hours trading. + +Here’s how the company did for the second fiscal quarter ended July 30: + +* Loss: $108.7 million, not comparable to estimates +* Revenue: $1.14 billion + +GameStop’s results cannot be compared with estimates because too few analysts cover the company. + +The company did not provide an outlook. It hasn’t provided guidance since the start of the pandemic. + +[https://www.cnbc.com/2022/09/07/gamestop-gme-q2-2022-earnings.html](https://www.cnbc.com/2022/09/07/gamestop-gme-q2-2022-earnings.html) +Hi, + +so I royally fucked up and bought 24500 Aeropostale stocks at $.255 dollar a share for around $6000. Yes, I'm an idiot, okay, but Pablo the store manager told me they were turning it around and implementing new strategy. + +Anyway, so, it looks like Aeropostale is looking to file 11 bankruptcy and their stock has gone down to 6 cents each and has now been moved to the OTC. From my understanding, if they file bankruptcy since I have common stock I have nothing, if I sell I have $1,666, but is there something I am overlooking? How can I hedge my losses in the best way possible? + +tl;dr 20 year old investor, acknowledged mess up, $6000 investment now $1666, options? + +edit: thank you for all the feedback! I have fortunately had great success as a young investor and understand the win some lose some concept, but I figured I would ask for any recommendations. Thank you all! + + +Living off your investments is a critical part of planning for FIRE. But what is a reasonable way to go about doing so? Given the parameters of the situation, it makes sense to choose a method that meets your needs without creating excess risk that you will prematurely run out of money. + +---- + +#The problem(s) with constant-dollar SWR + +The most common response is to take the old literature (i.e. Trinity study constant-dollar withdrawals**^+**) and see if it holds up to either more stressful future markets and/or to longer retirement horizons. Unfortunately, in order for it to do so the retiree must likely accept a constant-dollar withdrawal under 4% of the retirement-year nest egg. As a result, many sub-strategies are developed to try to make constant-dollar withdrawals more robust, including techniques such as bond tenting or predictive valuations-based metrics (e.g. CAPE-based adjustments to withdrawals). + +**^+ Edit:** /u/branstad made the excellent suggestion that I should caveat that the Trinity study *did not recommend* retirees use constant-dollar withdrawals as their strategy, but rather chose it as their modelling strategy because of its simplicity. The lack of this caveat has led to a gradual warping such that many accumulators believe constant-dollar withdrawals are a workable strategy, and that one only needs to find the right SWR. All withdrawal rate strategies, in order to be workable, will likely include some level of adaptability on the part of the retiree. + +These modifications are clever, but ultimately are victim to the fact that constant-dollar withdrawals as an actual retirement withdrawal strategy has many fundamental flaws: + +* **It is path dependent.** What you withdraw has "memory" in the sense that two retirees with the same age, portfolio balance, and asset allocation can be told to withdraw two different amounts in the same year. By definition, someone is not withdrawing the optimal amount that year. For example, someone retires at age 50 with $1M and takes $40k in inflation-adjusted terms. 10 years later, at age 60, their portfolio has grown to $1.5M (inflation-adjusted) but they're still taking $40k per year. Another retiree, also age 60, also retires that year with $1.5M in present value and takes the same 4%, but that comes to $60k per year going forward. Thus, two 60-year old retirees with the same portfolio size, with the same asset allocation, and the same current valuation to the market are being told by the same withdrawal method to take out two different withdrawal amounts off by 50%. Someone is either withdrawing too much or too little. Additional rules must be tacked on to correct this problem, but the memory issue persists because constant-dollar, at its core, is a path dependent withdrawal method. + +* **The definition of failure is unacceptable.** The classic definition of failure with constant-dollar withdrawals is premature depletion. Because we each only have one life, it doesn't matter what a probabilistic statement of failure is; a failure that affects *you* is disaster. This leads to corrective behaviors in two forms: either take a very conservative withdrawal rate to ensure a 0% failure or change failure to be some proportion of initial portfolio size, which leads to the next issue... + +* **Success typically leads to dying with too much.** Following constant-dollar withdrawals with a conservative withdrawal rate (even 4% for a 30-year withdrawal) avoids much of the risk of premature depletion, but it runs a risk of massive portfolio ballooning. Without additional rules, guardrails, ratchets, etc the retiree often dies with enormous wealth that they could have safely spent or given away during their lifetime. The retiree often does not feel comfortable spending until it is well and certain that the portfolio will sustain the higher withdrawal, by which point it may be too late. + +* **It is behaviorally difficult.** In an up market, the retiree may be happy about their portfolio size but not feel comfortable spending it. In a down market, the retiree may have stable income but may not be sleeping well at night if they're filled with dread that this is the retirement sequence that fails for the first time for this withdrawal rate. + +* **It is subject to *sequence* of returns risk.** Here I want to emphasize that *sequence* of returns risk is the specific problem that the *order* of the returns, rather than just their individual annual values, can prematurely deplete a portfolio. Bond tents, valuations-based metrics, and more are all developed to combat this specific vulnerability of constant-dollar withdrawals. + +---- + +#The case for VPW + +Enter [Variable Percentage Withdrawal](https://www.bogleheads.org/wiki/Variable_percentage_withdrawal), a clever method developed by the folks at Bogleheads over several years of productive discussion. It is a percentage withdrawal method (rather than a constant-dollar one) that increases the withdrawal method and responds to market returns. It cannot prematurely deplete a portfolio. It has no *sequence* of returns risk, which is to say that if you take a given sequence, the order of the returns does not affect portfolio trajectory. It has *market* risk of returns, which is to say what you withdraw depends on what the market does. This can be tempered by including a fixed income component to withdrawals (e.g. SS income [even if taken decades away at age 70], a pension, or a CD ladder) as well as a conservative portfolio allocation such as 60/40 stocks/bonds. It is path independent, and two retirees at the same age, with the same portfolio and asset allocation, will be told to withdraw the same amount regardless of what happened last year or the last 10 years. Finally, and perhaps most importantly, it is a simple and workable withdrawal strategy that you can live with for decades. + +[Here is a great summary of the current VPW retirement sheet.](https://www.bogleheads.org/forum/viewtopic.php?p=4835777#p4835777) + +Note here that the VPW retirement sheet can take *future* SS income (which can be discounted if you believe your SS benefits will be curtailed in the future) and internally set aside a portion of the portfolio to bridge to that income. All that needs to be entered into the worksheet in retirement is your current age, current portfolio size, allocation, and the current value of any pension-like income (whether current or future, cost-of-living-adjusted or otherwise). + +---- + +#Example + +Let's take our prototypical FIRE acolyte who's 40 years old and has $1M. They are anticipating an average SS benefit of $1500/mo (note, this is already likely conservative as I have entered $1500 at age 70, while the average retiree who delays SS benefits til age 70 will likely see their benefit rise to around $1800). They carry a 60/40 allocation. + +The VPW retirement sheet says they can withdraw **$45,150** the first year of retirement. I don't see many articles saying a 40-year old retiree with a 60+ year retirement horizon can safely withdraw 4.5% using a constant-dollar approach. The more standard answer for someone with that long of a retirement is closer to 3.25% withdrawals. + +But! What about if/when the market crashes? The VPW sheet shows you the effect of a 50% crash on your portfolio and withdrawal. This comes out to **$32,946**, or just around what the conservative constant-dollar approach would have suggested. And this is *if* the market undergoes a 50% drop. If that doesn't happen, the retiree is happily and safely spending **37%** more than the conservative constant-dollar approach. + +---- + +#Additional resources + +Longinvest, the principal developer of VPW, has spent years diligently addressing questions and concerns from the Bogleheads community and refining the approach to combine the best ideas they have to offer. The VPW thread is littered with excellent resources and side conversations, but I want to call your attention to two things in particular: + +1. [This sequence of posts](https://www.bogleheads.org/forum/viewtopic.php?p=4597932#p4597932) comparing the constant-dollar earner/retiree to the VPW earner/retiree. It highlights well what happens when retiring in best-case (1982), average case (1989), and worst-case (1966) scenarios, showing an acceptable stability of VPW withdrawals while the constant-dollar approach either ends up with millions on the deathbed or premature depletion. + +2. [The VPW Forward Test](https://www.bogleheads.org/forum/viewtopic.php?t=284519). Longinvest is committed to painstakingly documenting the monthly withdrawals from a hypothetical VPW retiree from July 2019 forward. He uses a 6-month income-smoothing buffer. The arithmetic is simple, but this approach is not required with using VPW. He could not have predicted the crash in March, but it is worth noting that the retiree's income was barely affected by the crash (in fairness, this is more due to quick market rebound than a feature of VPW *per se*, but it does highlight the strength of an income-smoothing buffer). + +---- + +#Didn't ERN dismiss VPW? + +Lastly, I'd like to quickly address [ERN's analysis of VPW](https://earlyretirementnow.com/2017/03/15/the-ultimate-guide-to-safe-withdrawal-rates-part-11-criteria/). This analysis, and all others I've seen, have **not** used the recommended fixed-income floor (such as future SS benefits, pension, or CD/TIPS ladder). As a result, their withdrawal fluctuations are entirely subject to market fluctuations **and** he used a higher volatility portfolio than is recommended for VPW (80/20). As we saw in the example I gave above, using a 60/40 portfolio with future SS income (even at age 40) results in a decrease of around 25% in income after a crash, rather than 40% as would be predicted by an 80/20 portfolio exposed entirely to market risk. + +---- + +#Summary + +VPW withdrawals using the simple worksheet provided at the Bogleheads wiki affords the retiree with a simple, workable, and safe withdrawal method regardless of valuations or length of retirement. If you want to be conservative when using VPW, make sure that the "Annual Income After Loss" table shows a value that you can *comfortably* live on should the market take a prolonged 50% dive. +As the title says. I was one of those guys that got into crypto early. As in 2010 ish. For quite some time, I made a living exclusively from trading Liberty Reserve. The OG's here know that story. The feds shut it down and I lost over $15,000. I scrounged what I had left and diversified my portfolio. E-gold, Bitcoin, digitalnaira and more. + +Of all of them, Bitcoin had the least promise. Cos it was only used by bad guys on silk road. Which is where my dealer brought from, and was what I used to pay for weed instead of cash. + +November 2013, I decided to sell all my crypto and grow up and get a real job. The good news is I just now realized I had 10 bitcoins on my LocalBitcoins account. No longer have access to the email I used then, but have reached out to the team to see if my account can be restored. + +[The phone, and my weed transactions. 🤣😂](http://imgur.com/gallery/piL3lfN) + +Might have had an account and Bitcoin on MTGox too. + +**EDIT**. +. + +I will try to share any updates regarding my LocalBitcoins account +Hi all- + +What factors in to buying a cabin? + +About us: NW 5M, 50% real estate, 30% stock, 20% crypto. We are in the age range 35-40, married and both working, two kids (3 and 7), HCOL area. Completely liquid assets (non-retirement and non-real estate) at 1.7M. We are a totally adventurous family, car camping, tenting, etc, and not high luxury. + +&#x200B; + +We are thinking about putting down $300k to maybe even 1M on land, with or without buildings, and are balancing: + +* Timing + * Kids not getting any younger + * Real estate prices may increase faster than VTSAX +* Building logistics + * Time, cost, lumber, contractor availability... +* Financial Performance negative impact: + * Diminishing our ability to make more money from investments (i.e., what if we just wait "one more year" until we have more disposable assets?) +* Ability to rent it for income (airbnb etc) vs keeping it exclusively for us +* Realistic frequency of visit and use +* Unexpected maintenance and costs (we are looking at simple yurts as well as 1500sq ft buildings) + +&#x200B; + +Anyone in similar predicaments and care to share positive or negative outcomes from decisions or hesitations? I just start browsing for "cabins" on Zillow and get down too many rabbit holes... + +Thanks. +I am 41 years old married with 2 kids. Between me and my spouse, we have a net worth about 1 million USD ( 500K home equity, 400 K 401K/IRA, 100K cash). Plan to continue working till am 50. + +I stand to inherit about 3 million USD in the next 10 years ( from parents in another country ). It's not going to be lump-sum but will be in staggered amounts ( I don't have a definite plan yet as the money is invested in stock/real estate and fetching a good income). + +Currently, live in Northern California. Would like to move to a state with low tax implications, more bang for the buck, good schools, and standard of living. As much as I love California, having lived here for about 12 years now, everything here feels like highway robbery. +I am a software company founder. + +We are mid-sized and I have a partner, I am in late 40s. + +My partner is ready to sell and so am I. + +The market for this kind of business is robust, many investment bankers have courted us to sell. + +My stake will be something in range of $20 - 30m, potentially EOY 2021. + +We hear from the investment bankers in the space that timing is very good, very hot market. + +But we have months of things to do to get the business ready before we can go to market. + +I have been working on this for >15 years, it is crazy to see a potential end of the road. + +BUT I am very worried about the current state of the market. + +Everything feels like a bubble. + +I don't want to pop right when we are trying to sell our company :) + +The last bubble popped (2006 - 2008) right when we had started our business, was very painful time and set us back by years. + +So I am waking up stressed out every day, so much of NW is tied to this outcome. + +This is a good problem to have, the business will be fine regardless of the bubble but I am worried about mis-timing this AND just generally having trouble staying focused could use your advice +hi, i was looking to put some money into a high yield interest savings account. + +i am usually a brick and mortar bank user, but i see online savings is giving 2% interest on a savings account?whereas all my brick and mortar institutions are .5% + +are the online options like CIT, SOFI, Ally, Lending club, safe? FDIC insured? have people had good or bad experiences? can you recommend? + +thank you! + +[https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts](https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts) +“exuberant” investors have focused on the potential upside of stimulative tax cuts, while ignoring the risks from protectionism and new trade barriers. bolstering inefficient enterprises only temporarily staves off market forces +http://www.marketwatch.com/story/exuberant-investors-ignoring-trump-risks-says-legendary-money-manager-2017-02-07 +I'm in the process of paying for our wedding which is why I have this much credit card debt (more than I've ever had). I'm not really concerned about paying it off since I know once the wedding is over our finances will be stable again, but I'm concerned about the interest fees accruing and making it a heavier burden. This is what it says about my card's APR on their website: + +\> APR will be 12.74% to 23.74% based on your creditworthiness. This APR will vary with the market based on the Prime Rate + +The $3.5k in savings is set aside for an emergency fund, and I probably wouldn't be able to start replenishing it until December or January. + +edit: thank you all so much for the help! i decided to pay off my credit card completely and will be paying for wedding stuff with straight cash. hopefully i didn't accrue too much in interest using my credit card, but now i'll be smarter. +He pleaded guilty to one count of securities fraud and one count of wire fraud, according to a statement from the US Attorney Preet Bharara. +https://beta.finance.yahoo.com/news/andrew-caspersen-pleads-guilty-defrauding-211916664.html +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +I know that we are already in a recession or about to be one as so many places note. I imagine as the economy gets worse that we would want to: + +Reduce careless spending +Pay off debt as fast as possible +Continue investing in 401k or Roth IRA to maybe the max if you can afford it + +Is there anything else you should be doing (if you can afford to do it) as we face possibly another few years of an economic downturn? +Hi guys, + +I am in the process of working out our family's estate planning. We have a lawyer who is drafting this up for us so will obviously run it by them but thought I'd also get a broader perspective here. + +Our situation is married couple with young child, both in our mid-30's. We will be using a testamentary trust. + +Our biggest concern / unknown variable is that if one of us should pass, the surviving spouse ends up re-marrying and the new partner/family ends up having an undesirable influence and puts at risk the deceased's estate. + +Our wishes today are that we leave behind our estate to our child and our siblings as beneficiaries. + +The scenario I have in my head is as follows: + +1. OP meets his maker and in his will leaves behind his estate to the surviving spouse, being 50% of the joint assets of the OP/partner +2. Partner re-marries at some point and meets another person who ends up influencing OP's partner to allow him to manage their family affairs. +3. The new partner ends up using all of OP's partner's wealth to buy monkey profile pics, which end up being worthless +4. OP's partner passes away and is able to leave nothing behind for the child + +Now ideally, what would happen is I pass and in my will set aside my entire share of our joint assets to our child and my siblings. However, this would leave nothing behind for my partner and taking a less cynical view, I fully trust her to make the right decisions to provide for our child irrespective of her future relationships. Part of this includes being able to one day buy a house for the family to grow up in, something we could not do if I take 50% of our joint assets and bequeath it to my siblings and my young child. So in reality, I do want to leave a large portion of it behind for my partner to allow her to continue to raise our family. + +To further complicate the scenario, even if future partner doesn't end up losing it all at the jpeg casino, what happens if the new family decides to buy a house together and the assets that I bequeathed to my partner are then used as part of a joint deposit to purchase a house for the new family. If my partner were to suddenly pass, even if in her will she wanted to leave behind the original assets to our child, how would this actually happen if it is tied up in the new family home? Surely the executor to her estate is not going to sell the house from underneath them, so the money is as a good as gone in that case too, despite there being no recklessness or manipulative behaviour. + +Has anyone been in this situation and know of a simple solution? I am worried of going down an expensive rabbit hole with the lawyer which I'm hoping to nip in the bud If I have fundamentally misunderstood something. + +I want to rule from the grave!! + +Thanks +Looking for somebody in the know… With all these rumblings including that tweet from ABC… what implications would that have on Australia? + +Are we headed for an ‘08 repeat. Just without the stimulus ammo in the bank. +So we’re screwed right? I’ve been salary sacrificing 20% of my $60k salary (now $65k as of last month) into super for the FHSSS but also to have my super grow. Because of the market downturn, my super is where it was 6 months ago, even considering the amount I’ve been putting in. All I wanted was to buy a modest $350k unit from the 1960s in Western Sydney and I thought that I’d take advantage of the tax benefits and how well my super had been performing since I changed to the one recommended by the Barefoot Investor. I can still pull the money out, but at what cost to my future? If anyone else is in same boat, or sympathises, I’d like to hear your input. +Withdrawals have been stopped for 7 days, GAW refuses to answer why and when they will resume. Josh Garza refuses to answer questions, support threads get closed on hash talk, and if you tweet him, he will block your account. I can’t withdraw bitcoins and they’ve been stuck on PayBase for a week. + +Edit: Update #1 - Josh posted on Hashtalk this morning (after this hit Reddit) that the issue would be fixed today (but hasn't yet). https://hashtalk.org/topic/34738/paybase-zencloud-withdraws-deposits/3 + +Update #2 - He tweeted on the issue here: https://twitter.com/gawceo/status/579968474274873344 +(I can't confirm for others, but my ability to withdrawal btc is still not working.) +Hi, thank you everyone for your words of advice. Even though I knew it was an unsustainable situation, having everyone spell it out to me has given me the push I needed. I spoke to my mum today to tell her that I can't do this anymore, she tried to persuade me but I held my ground, she apologised for everything which I didn't expect. I told my dad that he can't live like this and needs to pull his finger out and earn some money, he got quiet and didn't say much so I left it at that. I obviously still love them and will help them non financially, but I have to build a future for myself. + +Thanks again. + +Hi all, throwaway account just in case. + +But I just want to rant a little and seek some advice. I moved out of my parents home a few months ago and pay about 650 a month in rent, this covers all bills too. I'm about 6000 in credit card debt which is in a interest free account until 2021. + +My dad is pretty much a moocher, my parents are married but for about 15 years now my dad has refused to work. He's probably contributed maybe 5000 in all those years. This meant that I had to pay 'rent' when living at home and now I've moved out my mum still wants me to pay rent to help her cover the house costs. + +I take home about 1600 a month after tax, and with the 500 I pay to my parents, 650 for my rent and my cc and direct debit payments I have maybe 100 left for petrol and food. + +I'm so stressed out. My parents get annoyed at me when I try to pinch pennies saying I'm working and in a stable job so stop stressing. But it's hard + +My dad is in his own world, he likes to say that money doesn't matter and bad credit is no biggie. Btw his credit is horrible, he refuses to pay his cc bills and is just set on ruining it all. + +I just don't know what to do. My credit card debt was caused by lending them money, I'm concentrating on paying my cc and clearing that which will probably take a few years at this rate, I work full time but I'm thinking of taking up a part time job on the weekends but I know that isn't good long term. + +I can't afford food, so I only eat once a day. Calling it forced omad lol. + +Anyone in a similar situation? + +I've been working towards selling my company for about 9 months, just finished the valuation study and have a M&A attorney I like so far. My long time accountant is still cautioning me to wait a while as my kids are still in college and while today none of them are interest in taking over she keeps telling me they may change their minds once they start working for someone else. + +In the process of rolling all this around my wife finally came out and said she's worried about me hating losing my sense of identity today. I've pretty much devoted myself to building the business for 18 years, but in the last 5 I pretty much have given up my hobbies other than traveling to focus on growing the business due to a major growth opportunity I couldn't pass up. + +I think about starting back with hobby farming, but that's just 3-4 months out of the year. Her father got into local politics after he retired, it might be fun to try to fix things rather than just complain. Finding a way to get involved in business mentoring or local charities are possibilities I will explore. + +I can sit on a beach drinking rum for a while, but eventually liver disease or skin cancer will get me. What do you do for fulfillment post retirement? +While U.S. Securities and Exchange Commission is highly critical of the PFOF business model ([Barron's](https://www.barrons.com/amp/articles/sec-chairman-says-banning-payment-for-order-is-on-the-table-51630350595)), German government is now championing it. ([Wirtschaftswoche1](https://www.wiwo.de/finanzen/boerse/trade-republic-und-co-etappensieg-fuer-die-neobroker/28238810.html)) + +**PFOF = Payment For Order Flow.** Brokers no longer send our buy orders to transparent and regulated exchanges, but to unregulated trading venues. The brokers receive a commission for this from the broker. The operators of these trading venues then use the internalized orders of retail investors to make trades for themselves. ([Wirtschaftswoche2](https://www.wiwo.de/finanzen/boerse/trade-republic-scalable-capital-justtrade-die-versteckten-kosten-der-neobroker/28189534.html)) + +European Parliament actually wanted to ban PFOF. ([Finanzszene](https://finanz-szene.de/digital-banking/deutschland-torpediert-payment-for-order-flow-verbot/)) The Netherlands still wants to implement this ban, but governments like the German government and the Baden-Württemberg state government ([BW](https://www.baden-wuerttemberg.de/de/service/presse/pressemitteilung/pid/land-setzt-sich-erfolgreich-fuer-fintechs-ein/)) want to use it to promote "innovation". Unfortunately, this buzzword is a favorite term of lobbyists to convince politicians with fetching phrases. + +Gary Gensler, head of SEC, is highly critical of PFOF, because it could prevent small investors from getting the best price. But that is a legal requirement. Moreover, a conflict of interest is imminent. No market participant should be allowed to make securities trades on the stock exchange for his own account when he is in advance of knowing the buy and sell orders of many thousands of small investors. In addition, PFOF trading systems are questionable under antitrust law. ([Reuters](https://www.reuters.com/legal/litigation/us-sec-chair-gensler-staff-recommend-rules-ensure-fair-competition-between-2021-06-09/)) + +**What interest does the private operator of the trading venue have in PFOF? Why does he even pay for a broker to send him all the retail investors' orders?** - Because he can use this data to make quick trades for himself, even before execution for the retail investor. In PFOF, brokers and private venues trade against the retail investor. The small investor does not get the best price, but only that, from which the market maker already profited. + +**Example:** With broker ABC it comes to the fact that 2,000 small investors have high interest in a certain share and want to buy those at the same time. The broker does not execute the purchase orders itself at a public stock exchange, but sends the purchase orders to a private company. This company pays the broker for the right to receive this data. Our fictitious private firm, let's call it CTDL, owns a high frequency trading system. This allows this private firm to trade stocks one thousandth of a millisecond faster than other market participants. If the buy orders of our 2,000 small investors were settled individually on the stock exchanges, then the price of the stock would naturally rise gradually. But the private company now is holding back all the buy orders from the small investors for a few seconds. The company quickly buys at even cheaper prices than the retail investors and then sells the shares to the retail investor at a slightly higher price, but still in line with their buy order. (By the way, let's say the delay before the retail investor gets his shares to his account is only 5 seconds. But that is half an eternity for high-frequency computers, which can act in the millisecond range. 5 seconds is 5000 milliseconds. What kind of business can such fast, automatic trading systems do in this time?) + +**Surely we don't have to care if a private trading place takes fractions of a cent profit from us?** - Wrong! The natural economic law of the relationship between supply and demand is thereby suspended. It is no longer the demand of thousands of individual market participants that determines the price. Instead, a few large private companies with unregulated high-frequency trading systems try to steer supply and demand to their own benefit. + +In my opinion, stock trading should take place on regulated and transparent exchanges and not in unsupervised trading systems operated by private companies. Liquidity on regulated exchanges should not continue to dry up as more and more private trading venues handle orders internally. I don't know why this is important to me.... 😏 + +German. Retail. Investors. Need. Urgently. Engage. And. Educate. About. PFOF. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +My 11 yr old son is obsessed with learning about investing. He is saving literally every penny he finds so he can start putting his money in stocks. Here is my problem. I have no clue how to teach him about investing. I have my retirement savings in one of those target year funds because I am financially illiterate. Sad but true. + +He has $300 saved so far and from what I've read he needs $1000 to open a brokerage account. More specifically I think I'm supposed to open it in my name for him. ? Oh my gosh. I sound so stupid. I really wish someone would have taught me about this topic early in my life. + +Where would you start with teaching an 11 yr old how to invest? What kind of account would you open for him? Any other advice is greatly appreciated as well. Thanks! +Howdy y'all! + +u/Mycologicill here! + +We at Corazon Animal San Francsico are beyond stoked to have had the Loop Cats team reach out to us regarding a collaboration with the aim of raising money for those animals who cannot speak for themselves who have found their home at our shelter on the outskirts of San Cristobal de las Casas, Chiapas, Mexico. + +There are many strays here, and while it will take much time to appropriately address the reason as to why, I can explain below in a little detail, but will briefly say that poverty is the contributing factor to this situation. + +Labor is on average worth [$12.50](https://www.mexperience.com/mexicos-minimum-wage-in-2022/) a day and so the struggle for survival is often daily for these people and animals are often neglected and disregarded or abused. + +In Mayan Chiapas, there is an excessive amount of genealogical trauma that has yet to be fully addressed, but there are those who are fighting on the side of good and pursuing avenues for more prosperity and social change; such as [Petrona de la Cruz Cruz](https://scalar.usc.edu/nehvectors/taylor/eso-s-pasa-aqu). + +Out of all the Americas, [Mexico](https://www.theyucatantimes.com/2018/10/mexico-has-highest-number-of-stray-dogs-in-latin-america/) has the highest population of wild dogs, and in San Cristobal de las Casas, there are many of these four-legged beasts wandering the streets and fields, pawing through the garbage for [rotten food](https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6176319/), dodging taxis that steer in their direction and quickly running from the [boots that kick.](https://www.zenger.news/2021/06/18/abandoned-animals-roam-mexicos-streets-often-victims-of-abuse/) + +We at Corazon Animal San Francisco strive to give the dogs that make it to [our shelter](https://www.youtube.com/watch?v=V0Iq3NYd_hU&t=17s) the best possible lives that they could ever have. While we do not have much, we do the best with what we have and greatly rely on those kind hearts who come to us and vlunteer as well as those who donate food and medicine or money for needed shelter repairs and supplies. + +The Loop Cat team, u/lazyloopcat, reached out to us with the intention of helping our shelter through a partnership so that these doggies could get the care and attention that they need more of. We could not have gotten to this point without their help, in addition to guiding us on this journey to making it on the Gamestop NFT Marketplace, they have been so welcoming and kind during the entire process, and we are so very thankful for their support. + +r/superstonk I would like to introduce to you all the most wondrous, honest, kind-hearted, sincere, and passionate woman here in Chiapas who has dedicated her life to saving, rehabiliating, and resocializing all of the doggies that arrive to the shelter that she has been working on for a large portion of her life. She has persued this as her primary 'career' and has saved countless animals that were neglected and/or abandoned on the streets of San Cristobal de las Casas, Mexico. + +"Here is your home," is what she told me before we met nearly two years ago; such spirit is whole-heartedly welcomed and she makes the volunteers, who come from all around the world, really feel as if they are a part of this strange family of 60 dogs in the nature preserve of "El Mirador." + +![video](oo7pzglus92a1 " +") + +Regarding our partnership with the Loop Cats team, their upcoming release drops this Sunday at 8 P.M. / 20:00 EST on the Gamestop NFT Marketplace. A portion of the proceeds and funds will be sent to our fundly page so that folks know that the money donated is going to a good place and that it is recorded for the sake of transparency sake. + +As for the NFT Art side: the release of Pixel Loop Cats (PLC) will feature 741 unique (1/1) NFT with different traits and rarities. These will be released in strictly limited batches at different times. + +Each batch contains only 50 PLC which can be purchased through Surprise Packs (SP): + +\- Single Surprise Pack: After buying this you’ll receive 1 random PLC after this batch sells out + +\-Triple Surprise Pack: After buying this you’ll recieve 3 random PLC after this batch sells out + +Quintuple Surprise Pack: After buying this you’ll recieve 5 random PLC after this batch sells out“ + +https://i.redd.it/lbg9r4hi9a2a1.gif + +\- + +r/Superstonk, we are filled with joy to have become a part of the Gamestop sphere and to be a part of this community and to have made it this far! + +And a huge shoutout to the Gamestop NFT team for allowing this to happen! + +&#x200B; + +With the money raised, we will be able to provide more comfort and security for these doggies; + +New/refurbished dog housesMedicinesMedical TreatmentSterilization and VaccinesCroquetas (dog food)Meat, grains, and vegetablesMore food bowlsTree and limb removalStructural repairsFridge (for meat)and many other needs as they arrise. + +Long live investor activism!Long live Los Perritos!Viva la Revolucion!Y muchas gracias Loop Cats, r/Superstonk, y Ryan Cohen! + +[\\"Here is your home, we are waiting for you!\\"](https://preview.redd.it/7km6cvi8x92a1.png?width=1664&format=png&auto=webp&s=e7bba55c440ad76054ba876fdb62b7a5f0827d68) + +To Volunteer - [https://www.workaway.info/en/host/633692313613](https://www.workaway.info/en/host/633692313613) + + +EDIT: Sorry for the unnecessary image of Pesos that loads on mobile, it was pulled into this somehow. Ref. 12.50 average daily salary in Chiapas. +Prior to money, we had a loose system of bartering where you would exchange your goods/services for other goods/services. The problem with this system is that if you work harder or smarter than your neighbor, it was a waste because you can only go to the market and trade for the things you need. So even if you had a product that others wanted, they would in turn need to also have the products that you need. But if you had a placeholder to store that extra production, labor, ingenuity, creativity, etc... then you could freely sell as much of your product that the market will bear. This placeholder is a storage of your labor/production which equates to value. That agreed upon storage of value is called money (could be stones, metals, paper notes, or literally anything that the consensus agrees upon). So when you add more money to the supply that is not backed up by this storage of labor/production, it is public debt that either needs to be filled by new growth or it will dilute the existing supply of money (also known as inflation). + +For a long time gold was the ultimate, agreed upon storage of value medium. It held this position for over 5 thousand years. In modern times, up until the 1970s, the US and the rest of the world were still using the gold standard (This meant dollars were a paper representation of the gold they could be redeemed for.) Countries would even settle debts directly with each other via gold. However, this system was replaced by a true fiat monetary system when Nixon took the US off the gold standard completely in 1973. It is important to note here that the world has experimented with fiat money starting in the 7th century. I will spare you the history lesson, but every single fiat monetary system has ended in a collapse; only for the world to revert back to gold or some other scare material as a base collateral that the fiat money is then pegged to. + +This is why the comparison between Bitcoin and Gold keeps getting made. As you could have a system where Bitcoin is the base layer that other currencies could be pegged to. This way each entity could use their own local currency to deploy their fiscal planning and collect taxes. Bitcoin is perfect for this right now, which is why I don’t believe people will ever use Bitcoin to pay for trivial things. Bitcoin should be used to store your excess wealth and preserve it. This also protects Bitcoin from being a target for governments, as they would still get their tax cut by people using the local currency. Remember, the only true way to become wealthy is to leverage your skills to provide a good or service that people want. For people who invested in Bitcoin early, they provided the world with a much needed upgrade to our SOV medium, and as such, are being rewarded for helping to grow the network. The value, represented by the price of Bitcoin is of course going to fluctuate over time as the markets dictate. This is because people are going to transfer that stored value placeholder for other goods and services that they need and want; Then others will backfill that supply with their excess value that they want to persevere. + +TLDR: Remember Bitcoin doesn’t make you rich; you make yourself rich by your choices, skills, knowledge, work ethic, luck, etc... Bitcoin just provides the ability to store that value and preserve it for a later date. + +Disclaimer: I’m not a financial advisor. But if I was one, I would definitely tell you not to invest in Bitcoin - but only because I have to send you to an exchange and then I lose my fee. + +Edit: Thank you so much for all the thoughtful responses! This is an extremely intelligent community and you have definitely given me some homework around the barter system. However, I would also recommend you read Milton Friedman’s money mischief to get a deeper understanding of the foundation of money. Also, I’m strictly keeping this conversation to an economic one. Not a philosophical one around the creditor/debtor relationship or one around “fairness”. +**EDIT:** Since I've gotten a few comments about it, there is objectively zero price risk on this trade. The movement of the stock was largely irrelevant and the trade we set up would profit no matter where the stock went. There was some assignment risk on the short calls we sold, which we discuss in the second to last paragraph. This is entirely a broker-imposed risk which we were able to solve without too much issue. It is an important distinction to make though so I've added that up here to the top of the post. + + +I’ve been trading options for a while, but about a month ago I saw one of the most unique opportunities I’ve ever seen in the market. Here is an explanation of how I set up a trade that gave me a trade where the worst case scenario [was that I made a little over $2,500](https://imgur.com/7K4Z5MH) + +This is about to be a wall of text so if you’re a more visual learner, here’s a quick video I threw together explaining it: [VIDEO](https://youtu.be/ui2HxTDByY4) + +UPST first caught my eye back on June 9th when I came across news of its upcoming share lockup expiry on June 14th. For those who are unfamiliar, a share lockup is a pre-determined period of time where certain initial investors in a stock (usually institutions, pre-IPO) are not allowed to sell their shares. This is to prevent a mass selloff at IPO since these institutions are typically able to get shares in a company for far below what it ultimately is offered to the public at. Once that pre-determined lockup period expires, those entities covered by the share lockup are free to sell their shares as they wish. + +Now, a share lockup expiry doesn't always mean a stock will drop. For example, if an institution owned a huge number of shares at $22 per share and the stock was trading at $25 headed into a share lockup expiry, there probably wouldn't be a sell off because it's not worth it to unload a large position to lock in such a small gain. However if an institution had a bunch of shares for $22 apiece and the stock was trading at $160 headed into the share lockup expiry then there would likely be a decent sell off because they would be locking in a monster gain, and that's exactly what we were seeing with UPST. This stock had run up from $22 to $160+ between the IPO and lockup date, so you could bet that investors with a basis around $20 would be itching to close their positions out and lock in a huge gain. + +So with that in mind we knew that we wanted to play UPST down, but the question was how. I’m going to walk you through the thought process that ultimately led me to discover the risk free trade we entered. + +**Idea #1: Covered Puts** + +If you're familiar with a covered call, you know it's a bullish strategy where you buy shares and sell a call, hoping that the stock runs up to the strike of the call that you sold. What we tried to do was basically the opposite, a covered put where you short stock, sell a put, and then hope it drops to the strike of the put you sold. [Here is how that looks](https://imgur.com/Zc6MUXz), and [this is what the return profile on that looked like](https://imgur.com/gcbExAz), using www.optionsprofitcalculator.com. + +So this trade accomplishes what we want because it makes us money if the stock goes down. +But let’s take a look back at the setup really quickly. There is one issue. With this play, we’re shorting the shares but the shares for UPST were listed as HTB, meaning hard to borrow. This occurs when a lot of people are trying to short a stock and the supply of shares available to be shorted becomes constrained. This is a problem because (1) a broker may close out the short position without notice, and (2) brokers charge high borrowing fees on hard to borrow stocks which would have cut into our profits. So how do we solve this? The answer is to open a position that is synthetically the exact same as shorting shares, which we did with our second idea. + +**Idea 2: Replacing short shares with an option** + +We solved the issue posed from shorting shares by selling a call with little to no extrinsic value. We did this by selling a 45 strike call, which was deep in the money. This 45 strike call had $111.25 of premium, which if you add those two numbers together (45 + 111.25) comes out to $156.25, almost EXACTLY the price of the stock at the time we calculated this, indicating that there is basically zero extrinsic value on these calls that we sold. + +[Here is what that setup looks like](https://imgur.com/bwZqJi8), and [here is what the results look like](https://imgur.com/wq16xVa). You’ll notice it’s very similar to what we first laid out, minus the risks associated with shorting shares of a hard to borrow stock. + +So why does this work the same as shorting shares? Let’s say the stock drops $1. If you’re shorting 100 shares, you’ll make $100. If the stock drops $1 and you’ve sold 45c like we have, the price of the 45c will drop from $111.25 to $110.25, resulting in a $100 gain. So synthetically these are the exact same position, with the added benefit that we don’t have to worry about paying borrow fees or getting our position automatically closed out during the day by the broker. + +So that leaves us with [these potential outcomes](https://imgur.com/wq16xVa), however there is still a ton of risk if the stock shoots up. And this isn’t quite the zero risk play we’ve teased for this video. So let’s work on that part. What’s the best way to hedge that risk? What would protect us if the stock ran up? The answer is buying a call. + +**Idea 3: Hedging upside risk by purchasing a call** + +We wanted to play UPST down, but the level of upside risk wasn’t within our personal risk tolerance, so we decided to hedge that by purchasing a call. [This is what the setup on that would look like](https://imgur.com/U1t1S6N). The important thing to note here is that we purchased calls at a 2:1 ratio to the call and put that we sold for the first two legs of this trade. This turns infinite upside risk into infinite upside returns and actually skews the trade bullish. + +[This is what the potential outcomes of this 3-leg trade look like](https://imgur.com/Ys4TtUL), and you can see that this trade is basically risk free at this point, as movement below $45 is virtually impossible in such a short timeframe. However the title of this post would be a lie if we didn’t eliminate ALL price risk, so we’re on to Idea 4. + +**Idea 4: Hedging the downside risk by purchasing a put** + +Similarly to our upside risk hedge, we hedge our downside by purchasing 45p. That way any move below $45 is recovered on a dollar for dollar basis by the puts. These were going for $0.05 apiece so it was basically a $10 hedge to fully eliminate the downside risk [which gives us this setup](https://imgur.com/b0jVFl1). And finally, [that gives us these potential outcomes](https://imgur.com/7K4Z5MH). The website we’re using doesn’t even know what color to shade the boxes because there isn’t a scenario here where we lose money. + +-------- + +All in all, this took about $16,000 of collateral and resulted in a trade where the worst case scenario was that we made $2,600, which is a baseline return of 16.25%. Not too bad for a few minutes of work. + +So now you’re probably wondering: Why did this work and what’s the catch? This works because we ran into a position where the extrinsic value on the deep ITM put that we sold far outweighed the price of the calls that we purchased to hedge the position. Extrinsic value is the portion of the option premium that is subject to theta decay and will be fully eliminated by the time the option expires. The value of our play was derived from the roughly $19 of extrinsic value on the 280p that we sold, which is really uncommon for such a deep ITM option. There was roughly a $17 difference between the extrinsic value on the 280p that we sold and the premium that we paid for the 240c that we used to hedge, which is what made our hedge turn our entire trade profitable. This is NOT typical to see in an option chain. The fact that the share lockup expiry was coming up for UPST provided a huge “put skew”, meaning that puts carry more premium at comparable strikes. This is what allowed us the opportunity to create this risk free play. + +You also might be wondering if we had to sell exactly the 280 strike on the puts and buy exactly the 240 strike on the calls for it to work. We modeled out a ton of different possible trades and strikes and this is the one that I felt gave us the best trade off between minimum (base level) return and maximum return. At the end of the day, as long as the extrinsic value on the put we sold was at least $4-5 greater than the calls we bought to hedge, we were going to find ourselves in a risk free trade. I give the $4-5 number because it’s tough to open all of these legs at once, so you might have $1 or so of slippage in getting the orders filled. A $4-5 gap is what I would be comfortable with for a trade like this in the future. In this situation, the difference was roughly $17. + +And last but not least, there is one little catch. I’m sure you’ve heard there’s no such thing as free money, but this is really, really close. Since the 45c we sold were deep ITM and had zero extrinsic value we were at risk of being assigned early. During the first week we were holding this trade, that happened. But there’s no need to panic. Getting assigned on the 45c now means that we are just short 100 shares which is the original position we wanted in the first place, so we’ll remember that the risk was our broker could close them out at any point and completely shift the return profile of the trade. To address that risk, we reached out to our broker, let them know our plan, bought back our short position, and sold another 45c with no extrinsic value. There is zero price risk on this trade, but rather a little broker-imposed risk that can be mitigated. + +So there you have it. An example of how we can use option selling strategies to take advantage of special cases in the market and set ourselves up with virtually risk-free trades. Thanks for reading and feel free to let me know if you have any questions in the comments, I’d be happy to answer. This is one of my favorite trades I have ever placed and thought it would be interesting to share. + +------- + +**TLDR:** + +-2 UPST 6/18 45c @ 113.60 + +-2 UPST 6/18 280p @ 138.60 + +4 UPST 6/18 240c @ 1.88 + +2 UPST 6/18 45p @ $0.05 + +This 4-leg trade created a trade that had zero price risk due to differences between the extrinsic value in the 280p and 240c +I've never been a GG fan because of his history as part of the problem re: derivatives. I was however willing to suspend judgement and see what happened. + +Now it appears that we have shown a bright light on financial terrorism that the SEC in the political bullshit rhetoric of our time "protection" is actively protecting the bad guys. + +Inaction is bad but this is worse. I feel completely betrayed. So the SEC can move swiftly when it needs to but "it takes time" to clean up the rest of the bullshit? + +Turn off dark pools for a month. See what happens. +I mean this as, I spend almost every day after work and every weekend sitting at home reading or watching TV (don’t get me started on the cost of either…), and nothing ever really changes. + +Granted, there’s not a lot to do where I live, but it’s hard to even want to travel even an hour away to do something fun in the city because all I can think about is the gas that it’d cost (almost $3 now); the miles it’ll add to my car bringing me closer to needing new tires, an engine flush and an oil change; what bill/groceries could be paid with whatever I’m spending. + +I couldn’t even buy lunch for my younger brother-in-law while he’s spending the weekend with us because already I screwed up on my finances this paycheck and would be facing overdraft fees if my mom didn’t bail me out (again…). + +I just want to be able to do something fun and I feel terrible for not being able to. I know my husband feels the same but he’d never admit it to me so I wouldn’t feel guilty, but I know it’s there in the back of his mind. + +Being poor is boring. + +ETA: I do have stuff to do outside of work aside from sitting around with nothing to do - that’s not the point. When I have downtime is when I feel like this. +For a healthy family of 3 (2 adults age ~30 and the 1 child) im getting quotes around $700 per month or more for insurance premiums without subsidies. With the 4% rule this puts the need at over $200k to cover premiums indefinitely (assuming no increases or only small ones in line with inflation). + +However realistically out of pocket could be as high as $20k per year. (Remember max out of pocket doesn't include premiums) + +I think this is a very realistic number and possibly even a little on the low side depending on your medical conditions and how long you need it to last. Even once you are eligible for medicare (pushing back the eligibility date is definitely possible) it would still be nice to have a little left over because there will still be costs then add well. +tldr; planning to leave job to pursue part time project. + +—— + +Can’t tell my friends, so I wanted to share here. + +Would love any advice on my plans / happy to answer questions. + +Also wanted to thank everyone for their advice and postings on this sub. I’ve been reading for a long time. + +&#x200B; + +**Background** + +* Hit the $500k mark a couple days ago. Married, no kids yet. 31/27 y.o. +* Our target burn is \~$35k/year. +* I want to give myself more autonomy, stop worrying about pleasing bosses, and do some experiments +* Lucky to be married to a woman who shares my goals. +* Got to 500k by saving into retirement accounts since I was 19, plus a small startup exit a couple years ago. Took a decade of work and sacrificing social time, hobbies, minimal vacations, plus a lot of luck +* Our cost of living is currently very low (was high until six months ago). Wife’s family has an otherwise-empty apartment that they loaned us in an inexpensive country where we have a few friends. We spend about half our time there now. +* We have some unfair advantages / blessings (mostly healthy, parents paid for education) but aren't rich kids. None of our parents made anywhere near six figures but they were frugal. + +&#x200B; + +**Current income** + +* Wife freelances for $2.5k/mo working part time. She’s working on starting her own business in the rest of her time. +* Right now I'm making about 20k/mo doing hourly work that i’m not passionate about but am decent at b/c I have \~10 years experience. \[edit: this initially said 1-1.5k/day, which was confusing people\]. +* I'm pretty burnt out and have only been keeping myself going for the past year by thinking about how I'll stop once I get to $500k. + +&#x200B; + +**Goals** + +* Rather than coasting, I want to turn one of my long-time hobbies into a part time profession (I know, this often fails lol). +* If I’m successful, I’ll be able to make 100-400k/yr doing something I find meaningful and running my own services business. +* This may not fit some people’s definition of retiring, but to me it’s basically the same thing. Retiring for me == control my time + not having to worry about money. Even if I had 5 mil right now I’d still do more or less this same plan. +* We also want to have kids in about 4-6 years. + +&#x200B; + +**Plan** + +* Drop from 75 hours per week to \~4 hours per week of work for my current customers. +* Spend 95% of our time in cheaper country at the apartment I mention above. +* Get healthier (eating, exercising) and spend more time with family +* Spend majority of time working on side project trying to get it to earn enough to coast. +* Use wife's income and 4% from my money to support myself for next two years. +* If my wife’s business fails **and** I can’t get decent in income from my side project within the next 2–5 years, we’ll have to decide whether we want to reduce our cost of living by a lot or, go back to work in order to be able to afford kids. + +&#x200B; + +**Investing approach** + +&#x200B; + +This is my target (I’m close to it now but not exact): + +* Cash: 15% in CDs, high interest savings (I’m keeping a lot of cash this year in case I can’t do freelance work to support myself.) +* Intl bonds: 2% +* U.S. Bonds: 6% +* Emerging market stocks: 3% +* Developed market stocks: 15% +* U.S. Stocks: 30% +* Real Estate: 15% +* Alternatives: 10% +* Crisis protection: 4% +* Illiquid stock options (another 1.7 mil, but i ignore because it's uncertain) + +Basically a 3 fund strategy + some alternatives and extra cash. Maybe too conservative. + +&#x200B; + +**Concerns** + +I’m pretty close to pulling the trigger on this in March, so have been having more concerns lately. + +* Self centered? + * Sometimes I feel like I should just try to save as much as I can in case our families need it and so that I can definitely have kids. + * It feels like by doing something I personally enjoy rather than what I make more money doing, I’ll be making a selfish decision. + * When I really think about it, part of me would rather not have kids if it meant that I had to go back to full time work for 20 years. This feels self centered though. +* Giving up 20 years of full on relaxing? + * If I just work until I’m 41, I’d be able to just chill until retirement, whereas right now I’m setting myself up to have to work a little bit for the next 35 years. +* Giving up chance to save more, potential market crash, hard to come back to work force if I need to, etc. + * The usual concerns. +* No physical assets + * I don’t personally have more than $10k in any physical assets that I fully own. I own part of a real estate fund, but I couldn’t go live in any of the houses. + * Almost all of my money is just numbers in databases. + * In a crisis, I’m worried that this would bite me. + * If the side project is successful, I plan to rectify this by buying a cheap apt in Scandinavia for \~200k in the next few years. + +&#x200B; + +Curious how others deal with these anxieties. + +&#x200B; + +Thanks again for all the advice posted on this sub! Really inspirational. + +&#x200B; + +\[edit\] + +&#x200B; + +**Notes based on comments** + +Huge thanks to everyone who replied, especially those who offered advice and criticism of my plans. + +&#x200B; + +For the folks who are skeptical or think i'm trying to troll or something...this is probably my fault. + +Here's my best recollection of the details, but these number could be off by a decent amount. I was mostly just focused on thinking "save max 401k, then save as much more as I can," and wasn't tracking in a spreadsheet until the past year. + +19-24: Worked through college（work study, then worked at a startup as an engineer) but was only able to save a little bit. Was studying humanities but learned programming for fun. Started saving into an IRA because my college gf's dad worked in finance and gave her books on investing. Got scholarships and mother paid the balance of my loans (was under \~$30k) so had no debt. Didn't have a credit card until I turned 26 or 27. Graduated college late because I was working for the startup and took a leave of absence. Had about $15-20k saved by 24 (income was under 60k/year). + +24-25: Started a new job area (switched from engineering to design) and ramped up from 0 to 120k/year. Had to pay a lot in moving costs and break an expensive lease. Was down to about $10k total I think. + +26-28: Averaged 120-175/year in a hcol area. Saved max 401k plus some extra. Savings about 150 by 28/29. Spent all of free time taking classes to get better at job. My peers were mostly just hanging out after work, going on vacations, dating expensive people, buying furniture. Company covered meals during this time, but rent was super expensive. + +29: Got about 250k from a startup exit from my time in college, but also spent 50k on a year of grad school (which allowed me to get a more interesting but lower paying job) and took a salary hit while i was in school for that year. + +31: Quit the more interesting but lower paying job so that I could make more money in order to be independent and start my own company in a more relaxed way. Switched to contracting for multiple companies and would make 200-300 a year if I keep doing it. + +Also changed "hobby project" to read "side project," since someone correctly pointed out that it was dumb to say I had no hobbies but then say I wanted to work on a hobby project. +**My quick thoughts on the subject:** + +* Stocks are down due to recession headlines and higher interest rates +* Eventually stocks should go back up when the economy gets better +* Since high-growth tech stocks are the ones that are getting hit the hardest in this bear market, that means they'll also gain the most when the market recovers. +* I think I'll get higher returns if I get these high-growth tech stocks at a lower price, be patient for them to recover, and they'll give larger returns compared to other investments +Thomas Peterffy explains what happened in January and it's been the answer the entire time. New DD has surfaced explaining how call options hurt the shorts. New DD has surfaced explaining how MMs (citadel) are playing meme stocks based on volatility. + +Going to pull up a weekly RSI chart of GME. Before I do that, RSI is a very simple indicator of oversold (price is too low) and overbought (price is too high) + +https://i.imgur.com/fnjVhZs.png red bad, yellow good! + +MMs are profiting off of no volatility. They want the price to stay very close to the orange line. As you can see, just look at it for I dunno, 30 seconds. Everytime the price gets away from the orange line, it tries to get back towards it. Now look at January. You can see the buy button needed to be turned off. They profit off of no volatility using variance swaps. + +Call options create leverage which really just means volatility. MMs do not want volatility. + +https://www.cnbc.com/video/2021/02/17/interactive-brokers-thomas-peterffy-on-gamestop-hearing.html Skip to 1:13 seconds and listen until 2:35 **(1minute and 22 seconds of your time)** + +He breaks it down for every ape to understand. Or just continue reading because I'm going to outline what he says and what he means. + +* 50m float +* 70m shares short +* 150m shares from 1.5m ITM calls +* Total: 270m shares that MMs and brokers are at risk of needing to deliver. + +He further explains that had the longs exercised their shares, the **brokers** (RH and all the others that turned off the buy button) would have had to deliver 270,000,000 shares when only 50,000,000 exist. *To add to this, Citadel provides liquidity for the brokers and therefor Citadel would have had to deliver the 270m shares (someone correct me if I'm wrong)* + +These are **facts**. There is no way to create FUD around the outlined situation above. There is no way to misunderstand **why** the buy button was turned off. + +Now, onto those who think call options are FUD. Citadel and the brokers have no way of knowing which of those 1,500,000 ITM calls **can** (can the owner of the call afford to exercise?) or **will** (will the owner of the call exercise if they can afford?) exercise these calls. No one knows this. This is why MMs like citadel **MUST** hedge against the calls. Hedging against calls means that they have to buy shares in order to fulfill their contract to deliver if the buyer exercises. I'm not saying they will hedge against all of them, but you can see that they were very much fucked. 50m shares existed and they were **threatened** by 270m shares. + +#What made up the majority of the 270m threat? + +150,000,000 ITM shares from 1.5m call contracts. Contracts are an **OBLIGATION** people. They **HAVE TO DELIVER**!! Say it with me, **call options are a contract and THEY HAVE TO DELIVER** + +Do you understand why derivatives of a 13b marketcap company like Gamestop **can** be a threat to the entire global economy? Now, after reading the above, what are MMs most afraid of? + +DRS and ITM CALLS. + +The DTCC openly states that DRS would paralyze the system https://i.redd.it/gp69jp0eehp71.jpg by removing your shares from the DTCC you paralyze those who have decided to short a security beyond its float; the same way exercising a large amount of ITM calls would paralyze the system if the shares exceeded the float. That doesn't even take into account the naked short position guys. C'mon, it's that messed up. That is how broken this current system is. I don't even want to go into the explanation of how volatility affects MMs profits but it does, badly and ITM calls does that as well. + +#MMs are AFRAID of DRS AND ITM CALLS + +I want this topic to be a place of open discussion. I would strongly encourage everyone who reads this to please reframe from throwing out shill accusations. Seriously, try to challenge each other and have open discussions about the positives and negatives of both DRS and Call options. + +Disclaimer: This is not financial advice in any way. I am simply repeating an aging billionaire who went on live TV and described the above situation earlier this year. Options are a risk to those who decide to trade them and nothing in this post is suggesting to anyone that they should. + +Edit: I've decided to include just a tl;dr of variance swaps and how ITM call options act like a magnet on the upside. + +* MM buys a bunch of far OTM puts 0.5$ DOOMPS 1/21/22 +* MM buy a bunch of far OTM calls +* The profit is in designed to be in the middle and pays out once every 90 days (cycles) +* When a large influx of ITM calls occur, the far OTM calls act like a magnet and pull the price up (as MMs hedge they buy shares) +* The same would occur if a large influx of puts were to occur, the far OTM puts would drag the price down. +* edited: As someone mentioned earlier, MMs use variance swaps to profit off of the aspect of volatility (they need it to be low) using far OTM puts and calls. + +#edit someone asked me a question adding answer here. + +tl;dr of the edit: when you buy 100 shares, you give them money worth 100 shares and they give you nothing. When you exercise a call worth 100 shares, you **take from them** 100 shares worth and then you DRS that shit and bleed them dry. Don't believe me? Read the edit. + +When you go to the market and say, hey I want 100 shares, the MM will sell you 100 shares. So what took place here? You gave your broker $$$ for 100 shares, they gave you 100 fake shares because crime. + +When you buy a call option, you're signing a contract that the MMs are signing simultaneously as they sell it to you. + +>When you buy a call, you pay the option premium in exchange for the right to buy shares at a fixed price (strike price) on or before a certain date (expiration date). Investors most often buy calls when they are bullish on a stock or other security because it offers leverage. + +MMs contract when they sell you a call + +>Call sellers (writers) have an **obligation** to sell the underlying stock at the strike price and have a “short call position.” The call seller must have one of these three things: the stock, enough cash to buy the stock, or the margin capacity to deliver the stock to the call buyer. + +People overlook the wording in these and I guess just flat out misunderstand what's being said. An option is the same as any other legal binding contract. + +Okay back to the question. You go to the market, pay for 100 shares, they take your money and give you 100 IOUs. You gave them money and they gave you a number on a screen. + +When you exercise a call option you bought, the seller of that option has to **GIVE YOU** 100 shares. If they do not own 100 shares, **they must BUY YOU** 100 shares to send to you. If they're using margin then they use their margin capacity to buy 100 shares. This will reduce their margin capacity. Say it again, **this will reduce their margin capacity** + +The difference in buying 100 shares and DRS'n them vs buying a call option and exercising it for 100 shares is that when you DRS your phantom shares, they become real shares that eventually will bleed MMs dry via 1000 cuts. When you exercise your call option, they have to **buy/give/reduce their margin capacity** in order for you to receive your 100 shares. (Some of you may say, well how do you know they have to?) I mean, sure, but don't assume MMs can break all the rules. January is evidence that they were extremely scared so It's a safe bet it's true. + +If you combine DRS and ITM calls, you're effectively tightening the rope around MMs. Before they were taking your money giving you nothing, in return you transformed your fake shares into real shares to screw them over down the road. If you exercise an ITM call, **you take their shares/money/margin capacity** and THEN you double down by DRS'n them which further screws them down the road. + +#If DRS makes them bleed by a thousand cuts, ITM calls puts rocks in their can making it harder to kick. +China has told banks and payments platforms to stop supporting digital currency transactions. + +Their central bank said it had recently summoned several major banks and payments companies to call on them to take tougher action over the trading of cryptocurrencies. + +Banks were told to not provide products or services such as trading, clearing and settlement for cryptocurrency transactions. + +Authorities have ordered the closure of 26 mines last week. + +Last month China's cabinet, the State Council, said it would crack down on cryptocurrency mining and trading as part of a campaign to control financial risks. + +The day will come when a united crypto community will publicly and peacefully stand against government's trying to restrict/block it's citizens from transacting in peaceful cryptographic code on decentralised and open networks. + +When that day comes, I for one will be more than willing to take my place on the frontline. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +https://transamericacenter.org/docs/default-source/retirement-survey-of-workers/tcrs2021_sr_four-generations-living-in-a-pandemic.pdf + +It’s that time of year again. Reposting with some notable discussion points: + +1) Seems the quiet retirement crisis for boomers is creeping up/is happening with many planning to work beyond 65. There’s a section that shows that although many are working because they want to, many others are doing it due to financial constraints. On top of this, boomers are citing age discrimination and employers that don’t seem to accommodate their needs for working at those ages (for example with covid). + +2) On the other end of the spectrum, it seems zoomers are saving earlier and a HIGHER percent of their incomes than boomers. One theory I had was that a lot of them are starting to pick up on the widespread retirement/investing/saving information out there. I’ve seen posts on basically every social media app/ site that I use, all of which iterate a lot of good information, and will argue with those that try to spread misinformation. + +The survey has quite a bit of interesting data, so curious on other’s thoughts. +This is a big one that just goes to show how messed up our financial system is. Get your face ready to meet your palm. This is *literally* a rule *proposed* to PREVENT FRAUD, MANIPULATION, AND DECEPTION in our financial markets. + +[34-93784 pg 1](https://preview.redd.it/8v3e6s5elgt91.png?width=1988&format=png&auto=webp&s=13a2929902638765012b2776e1ea7b808a1c89ac) + +You'd think such a simple concept wouldn't be so hard to pass. The crazy thing is this rule was ***originally proposed in 2010*** **after the 2008 financial crisis** revealed some major regulatory gaps meaning there simply weren't enough rules in place leading up to 2008 ***and they failed to put those rules into place even after 2008***. + +[34-93784 pg 12](https://preview.redd.it/dbqwj58rlgt91.png?width=1996&format=png&auto=webp&s=d12ad33e2ab25ddb80b47e2b2832bfe728feacec) + +The financial industry came out heavy against this proposed rule (see [bottom of this page for comments from 2010 and 2011 along with Meetings with SEC Officials](https://www.sec.gov/comments/s7-32-10/s73210.htm)) which basically *killed it*. Until now -- because we're about to have 2008 all over again. + +[34-93784 pg 13](https://preview.redd.it/no3neuqsmgt91.png?width=1988&format=png&auto=webp&s=3b7f64a099af30f20710d306c135f1ed94c98a46) + +The difference between the 2010 proposal and this new proposal is the SEC wants to add an **anti-manipulation provision** to the rule. (Yes, there isn't a rule against manipulating the markets yet. 🤦‍♂️) + +You might also remember this post on how [Goldman and Bank of America/Merrill Lynch tried to hide evidence they purposefully Fail To Deliver on trades during Overstock trial](https://www.reddit.com/r/Superstonk/comments/x3oixj/goldman_and_bank_of_americamerrill_lynch_tried_to/) where the banks literally said "F\* compliance": + +https://preview.redd.it/con049xeogt91.png?width=1960&format=png&auto=webp&s=bd11787b944bf99c852618fc02cdc36205014312 + +https://preview.redd.it/905jq2rfogt91.png?width=1968&format=png&auto=webp&s=eb6c4bf0bc06393672b777acadab891885765b7b + +Well, this new Proposed Rule adds rules PREVENTING UNDUE INFLUENCE OVER CHIEF COMPLIANCE OFFICERS. (Again, 🤦‍♂️ that this rule needs to be added.) + +Here's the Table Of Contents for the Proposed Rule Changes: + +[34-93784 pg 5](https://preview.redd.it/ykobbs7sngt91.png?width=2020&format=png&auto=webp&s=7449fd2a96dcade9febbed674850d37b4619d306) + +# What Investors Want + +If you like what you see, COMMENT to the SEC and tell them you support these changes: + +1. PROHIBITING FRAUD, MANIPULATION, AND DECEPTION in our financial markets, +2. PREVENTING UNDUE INFLUENCE OVER CHIEF COMPLIANCE OFFICERS, and +3. REPORTING SWAP POSITIONS + +And, that the **SEC should proactively set in place more strict regulations and penalties for violating the rules**. + +# Commenting to the SEC + +1. Click here to see the list of [proposed rules](https://www.sec.gov/rules/proposed.shtml). +2. Search for "**Submit comments on S7-32-10**" and click it. +3. Fill out the form (anonymously, if you wish) and include your comments. For ideas, see [this list of comments for this proposal](https://www.sec.gov/comments/s7-32-10/s73210.htm). Even simply telling the SEC you support the provisions in this rule will help show support against objections from the likes of [Citadel](https://www.sec.gov/comments/s7-32-10/s73210-20125305-284743.pdf) and other crooks who love being able to do fraud and manipulate our markets. + +# Other SEC Proposals Need Your Support Too + +This is the third of a series of posts resulting from [The SEC "LOST" your Public Comments. PRESS RELEASE and Instructions](https://www.reddit.com/r/Superstonk/comments/xy7wwn/the_sec_lost_your_public_comments_press_release/) (by u/I_DO_ANIMAL_THINGS) where I try to highlight some key aspects worth commenting on for proposed SEC rules that are now OPEN TO COMMENTS FROM THE PUBLIC. Previously, + +* [COMMENT TO THE SEC on Short Position and Short Activity Reporting!](https://www.reddit.com/r/Superstonk/comments/xzzts4/comment_to_the_sec_on_short_position_and_short/) +* [COMMENT TO THE SEC on Reporting of Securities Loans](https://www.reddit.com/r/Superstonk/comments/y0tefd/comment_to_the_sec_on_reporting_of_securities/) + +We should show our support FOR ALL OF THESE RULES rules to make our financial system work better. + +EDIT: My [comment](https://www.sec.gov/comments/s7-32-10/s73210-310801.htm) has been posted by the SEC site. +I'm considering renting my SFH when I move out. The house has a pool and it's on a quarter acre lot. There is also an HOA but they're not terribly strict but strict enough to where they'll get on me if the grass or house isn't maintained to look "decent." + +Should I include pool and lawn maintenance in the rent or should I leave that up to the tenant? If I were to leave it up to the tenant, what happens if they don't maintain it and the HOA starts to bitch? Who is responsible? Is this something I can cover in the lease terms? +A couple banks I asked Are all set on 25% for down payment for an investment property which I think is high. + +Are all lenders set on this percentage? +Where would you guys suggest I look? +The property I’m looking At is a two unit, fully rented (for years) and currently under 80k, mind you they want 6k towards closing cost. + +I’m looking for lower down payment and little closing cost, any suggestions? +I bought a house dec 30 2020. I want to sell it now. We are building a new house and I’d like to put the proceeds toward the down payment. + +Can I do that without having to pay capital gains tax due to the short term residency only because it’s going back into real estate? Or do I have to wait until dec 31 of this year to close on a sale? + +Tried googling but kept getting realtors in my search results. + + +Edit: + +Bought the house for 103k. Listed it for 155k +Options: +List with realtor- Realtor fee 6% on entire amount and Capital gains tax 15% on profit (15k +) + +List without realtor- capital gains tax on profit (8k) + +Refinance- costs: 9k + +Paying the taxes and selling by owner are the cheapest options if I get rid of it now. Waiting 8 months saves me a whopping $7500. I also have a small business that is operating at a loss so my taxable income will be down because the schedule C balance will carry over. +So I am about to buy a condo that's worth $95,000 for $60,000. And with a little repair and updating would be worth around $110,000 but I'm not sure the best way to go about doing this. I'll need to take out a mortgage on the place but once I've done that how would use the equity in the place to buy other property? Do I just refinance and pocket the extra cash for downpayments? +I have a duplex rental on the other side of the US, and one side needs some work, so I plan on flying out there to work on it. If I also pay for a friend to come and help me, can I deduct the cost for both me and my friend? + +&#x200B; + +Thanks +GOOG current P/E is about 19 right now. It’s been significantly sold off so far year to date. But have any of the fundamentals changed for this behemoth? Seems like a solid company at a reasonable price, but maybe I’m missing something. +My first day on r/pennystocks I read a thread that said to buy IDEX. It was my first buy and I instantaneously made $600. I thought damn this is an easy game, just read what they tell you to buy and make fat change. I ended up buying a bunch more @ 2.4 and the dip ate me alive. I had been in the reds for months on end, barely checking my stock apps because it was too depressing. So many people said that IDEX was dead and i should’ve cut my losses a long time ago but I couldn’t bring myself to do it. I held on to that bag like a baby holds on to its momma’s tits. Today I finally became free from the beautiful mess of IDEX and I begin my portfolio from ground 0. +I’m 34 and have 180k in my 401k and max it out every year. I’d like to have money that is accessible before retirement to spend without getting penalized for withdrawing early. Would it be more beneficial to put an additional 6k in a Roth/IRA or a brokerage/index fund with low fees? +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +I'm 22 years old. I was selling a phone on eBay when a buyer contacted me to buy the phone outright. I sent a request on PayPal to his provided details and recieved an email that stated the payment was complete but I needed to show confirmation I sent the package to receive the money. Upon reflection this was so obviously a scam email but I was blinded by the need to get the phone out of my possession and the money in my pocket. The fake PayPal email requested me to send a photo of my license and I stupidly did. Long story short i sent the phone and recieved no payment which I am obviously annoyed at but the real issue that has me terrified is that they have a photo of my license. They have no other details such as banking or passwords, but I'm still immensely scared about this. I have reported this police and filed a report of scam watch websites. The officer said he would file a request to a department that deals with matters like these and I would get a call in a few days. All in all I'm scared for my future financial security and am wondering what steps I should take as I'm extremely scared and anxious. +Hello, "Apes". it is I...also....ape. Yes, ape. Here to bless you with lots of rocket emojis and bananas as I am clearly one of you. Or something. We still say on fleek, right? I mean, I totally know, but I'm not sure if you, too, are...you know, fellow ape.... + +&#x200B; + +Hmm, it seems as though my emoji keyboard has been replaced with a regular Boomer keyboard. This makes fellow ape very angry, and I will certainly go out in seek of a real keyboard after this, ape honor. + +&#x200B; + +Anyhow, I've seen an enormous amount of confusion from the, you know, "non-apes", about what $CLNE's contract with $AMZN is. So this will all be review to you because you guys CLEARLY are savvy and intelligent investors who don't get led by the nose by bots, but for the non-apes, this will be good information. So let's talk about it: + +&#x200B; + +# What's the deal: + +&#x200B; + +In late April, $CLNE entered into an agreement with $AMZN to provide their carbon-negative RNG fuel to $AMZN trucks nationwide. This deal called for $CLNE to construct an additional 19 Clean Energy fueling stations in addition to the 27 stations $CLNE had astutely built right next to $AMZN's warehouse as part of the long game to get out of the friend zone with them. In exchange for this consideration, $AMZN will be buying a fleet of RNG capable vehicles and purchasing, at a minimum to complete the arrangement, over 200 million gallons of RNG as part of their goal to become carbon neutral by 2025 - and as the most green fuel in the world, RNG represents a big chunk of being able to fudge some carbon footprint in other areas by overcompensating in fuel. To make this deal attractive to Bezos, ape-in-training Andrew Littlefair worked a deal to issue up to 53,141,755 shares of $CLNE stock via warrants at a cost basis of $13.49, to be executed at various gates over the next 10 years. That represents about 27% of the company. But you smart and intellectual apes already knew that. I mean, obviously. + +&#x200B; + +The first 13,283,445 shares are fully vested upon the execution of the agreement and an affirmative vote by the shareholders, many of which are you apes because you were so smart as to buy $CLNE without having to be beaten over the head with picking a decent company for once. That happened today. The remaining 39,858,310 are only able to be executed by Amazon if they buy fuel - a lot of it. Half a billion dollars of it by today's value, which most people estimate will be worth 1.5 billion over the next 10 years as prices rise. Again, you smart apes already knew this and know that, with a present market cap of only 2.23 billion dollars, this 1.5 billion represents almost the entire value of the company as it sits today. I don't know why I keep telling you things you clearly already know. It must be because I am not a smart ape like you. Amazon, of course, only signed this deal because they figure that 13.49 they'll pay per share is a bargain compared to what the company will be worth as they stepdaughter swap $CLNE out to all their buddies for corporate porn. + +&#x200B; + +# Now, the part the less intelligent "non-apes" don't seem to grasp, but the most important part: + +&#x200B; + +Less discussed is the fact that $AMZN, under terms of the deal, will never be permitted to own more than 5% of the company at any given point. If they ever go over, they've got to give up some shares of the company. This is the most important part of that entire deal, and it's the part most people don't seem to understand or one they disregard as irrelevant. Basically, no more situations like CLNE is in with $TOT right now where that company owned 20% of $CLNE at one-fucking-penny per share, and has been fucking the stock price for almost 2 months as they de-leveraged with their 800 baggers. Obviously, $AMZN is going to want more than the $13.49 a share they're paying, which means it's in their best interests to see to it that $CLNE is worth as much as possible. Which very likely means buying more fuel than required as well as "gently nudging" their distribution partners to go RNG, as well. And by gently nudging, obviously I mean "waterboarding until they comply". You're already starting to see some of the results of this, with a deal being worked out between $UPS and $CLNE, completely of their own free will of course, to partner up for RNG contracts. + +&#x200B; + +# Why does any of this matter? + +&#x200B; + +Again, all you apes that are clearly more smart than me, "fellow ape", but clearly not as clever as the ape collective, you know this, but it's this: If $AMZN's "win" in this deal is acquisition of diluted shares which they will not be able to actually keep, then in order for $AMZN to "win", they have to be able to sell those shares for more than $13.49 as they keep at their 5% ownership ceiling. The floor on $CLNE's price should not be 13.49 because that's what $AMZN is paying, that's wrong, and everybody who's been saying that has had it backwards. The floor should be 13.49 because that's what $AMZN's cost basis for compulsory SELLING is. And I guarantee you $AMZN didn't agree to pay $13.49 a share on top of 3-something a gallon for cow farts to break even or lose money. Confusing, I know. I mean, my 6 year old would probably figure it out if she had an extra chromosome, but I failed as a genetic donor and she only has the standard 46. + +&#x200B; + +So there the "non apes" have it, because I know all you real apes not only already had this figured out, but definitely didn't get suckered into buying $WOOF because a botnet told you to today or paperhanded shares in $CLNE when it dipped 10 cents rather than shooting straight up during the investor meeting after all the non-apes got distracted and FOMO'd into some losses and started creating confusion about what this $AMZN deal actually was by displaying they didn't understand it. Damn non-apes, am I right, um...fellow...ape? + +&#x200B; + +TL:DR: Bezos is smart ape. And you are clearly smart ape. Smart apes hang out with each other. This is just like being Bezos. Except better than Bezos, because you smart apes can keep buying more shares. Poor Jeff can't. Jeff's not as wise an ape as a WSB ape. + +&#x200B; + +Fear and Loathing, + +&#x200B; + +\-CD +I am a graphic and UX designer with 15 years of direct experience developing web 2.0 products for a fortune 100 company (and have Product Ownership experience). I have consulted previously with clients all over the world. UX design is my jam *— but I need the bread*; this is where **apes** must come in. + +[The original post is here](https://www.reddit.com/r/Superstonk/comments/rk1hv9/once_reddit_ipos_i_want_to_reimplement_it_but_i/hpb1zlq) + +**I have gotten a few requests to help out and also many who wish to be a part of it.** Obviously we can't continue here, so comment on this post and if there is indeed enough interest, perhaps we start a Discord and talk next steps to create a Web 3.0 Dapp. *Or let it die in new —* *It's up to you folks!* + +Note: I am having a hard time getting a hold of u/dit-k and that's alright, maybe they're just busy. + +***Edit: We have 80 people who have joined the Discord so far with lots of ideas being shared. It's awesome to see ideas melding and direction forming*** +So just read this on [cnet](https://www.cnet.com/personal-finance/crypto/bored-ape-yacht-club-just-broke-the-ethereum-blockchain/#ftag=CAD590a51e) and found this interesting: + +&#x200B; + +>A new NFT collection was launched on Saturday by the Bored Ape Yacht Club team. The Ethereum blockchain was crushed by the demand. +> +>The Bored Ape Yacht Club crashed Ethereum on Saturday night. As part of the upcoming Bored Ape metaverse called Otherside, developers Yuga Labs on Saturday launched a new NFT collection which consists of 100,000 land deeds for the virtual world. Interest in the drop was immense -- too much for the Ethereum blockchain to handle. **Users ended up paying thousands of dollars in fees for failed transactions, and Ethereum proved unusable for hours due to its inability to distribute the load.** + + + +How are users ok spending thousands in fees for failed transactions and why are people so hell bent on saying Ethereum is the place to be when launching such products, as the gas prices can at times outweigh the amount you spend on a transaction? + +I just don't understand why there cant be a refund mechanism for failed transactions, especially in circumstances when the blockchain is overloaded by users. +Queue the people calling me an idiot. I totally agree, buying SNAP feels really dumb on my part and I think I'm an idiot for it. What's the likelihood that SNAP and speculators would be able to push this into the 20s so I can get out of this junk equity and move it into something more viable for the long term? Should I eat my losses and get out now? + +Thanks for the help, while drunk I also bought 2 shares of AMZN which obviously I'm more optimistic on even though I'm down on it right now as well. + +Much love +Hey guys, I just wanted to say, last year was pretty rough on me. I lost my job, had a real bad back injury, and my partner and I were struggling to make payments for the house, rates bills etc. I will never be able to repay my partner for what he did for me during last year, but he’s gotten really into stocks lately, so I thought (now that I have a job and deposable income) that I would want to try it too. To do something together. As I heard a lot of stories about how people have gotten $1000s from them (I know, I’m a sucker for the dream of winning lotto and such like) but I am so enjoying it! I love learning about new things, and the strategy be hind trades and buying. I also love the community here, I’m from the beauty community and they can be quite mean sometimes haha. But yeah, I’m hoping some day all my debt from last year will be paid off and I can start investing more. But so far I’ve only put $50 NZD into Stake. And I’ve made $39.93 NZD So I’m excited for what the future of my new hobby will take me! +[https://www.economist.com/briefing/2020/11/12/value-investing-is-struggling-to-remain-relevant](https://www.economist.com/briefing/2020/11/12/value-investing-is-struggling-to-remain-relevant) + +&#x200B; + +Found this to be an excellent read and would love to hear what /investing has to say. Full article below: + +&#x200B; + +It is now more than 20 years since the Nasdaq, an index of technology shares, crashed after a spectacular rise during the late 1990s. The peak in March 2000 marked the end of the internet bubble. The bust that followed was a vindication of the stringent valuation methods pioneered in the 1930s by Benjamin Graham, the father of “value” investing, and popularised by Warren Buffett. For this school, value means a low price relative to recent profits or the accounting (“book”) value of assets. Sober method and rigour were not features of the dotcom era. Analysts used vaguer measures, such as “eyeballs” or “engagement”. If that was too much effort, they simply talked up “the opportunity”. + +Plenty of people sense a replay of the dotcom madness today. For much of the past decade a boom in America’s stockmarket has been powered by an elite of technology (or technology-enabled) shares, including Apple, Alphabet, Facebook, Microsoft and Amazon. The value stocks favoured by disciples of Graham have generally languished. But change may be afoot. In the past week or so, fortunes have reversed. Technology stocks have sold off. Value stocks have rallied, as prospects for a coronavirus vaccine raise hopes of a quick return to a normal economy. This might be the start of a long-heralded rotation from overpriced tech to far cheaper cyclicals—stocks that do well in a strong economy. Perhaps value is back. + +This would be comforting. It would validate a particular approach to valuing companies that has been relied upon for the best part of a century by some of the most successful investors. But the uncomfortable truth is that some features of value investing are ill-suited to today’s economy. As the industrial age gives way to the digital age, the intrinsic worth of businesses is not well captured by old-style valuation methods, according to a recent essay by Michael Mauboussin and Dan Callahan of Morgan Stanley Investment Management. + +The job of stockpicking remains to take advantage of the gap between expectations and fundamentals, between a stock’s price and its true worth. But the job has been complicated by a shift from tangible to intangible capital—from an economy where factories, office buildings and machinery were key to one where software, ideas, brands and general know-how matter most. The way intangible capital is accounted for (or rather, not accounted for) distorts measures of earnings and book value, which makes them less reliable metrics on which to base a company’s worth. A different approach is required—not the flaky practice of the dotcom era but a serious method, grounded in logic and financial theory. However, the vaunted heritage of old-school value investing has made it hard for a fresher approach to gain traction. + +## Graham’s cracker + +To understand how this investment philosophy became so dominant, go back a century or so to when equity markets were still immature. Prices were noisy. Ideas about value were nascent. The decision to buy shares in a particular company might by based on a tip, on inside information, on a prejudice, or gut feel. A new class of equity investors was emerging. It included far-sighted managers of the endowment funds of universities. They saw that equities had advantages over bonds—notably those backed by mortgages, railroads or public utilities—which had been the preferred asset of long-term investors, such as insurance firms. + +This new church soon had two doctrinal texts. In 1934 Graham published “Security Analysis” (with co-author David Dodd), a dense exposition of number-crunching techniques for stockpickers. Another of Graham’s books is easier to read and perhaps more influential. “The Intelligent Investor”, first published in 1949, ran in revised editions right up until (and indeed beyond) Graham’s death in 1976. The first edition is packed with sage analysis, which is as relevant today as it was 70 years ago. + +Underpinning it all is an important distinction—between the price and value of a stock. Price is a creature of fickle sentiment, of greed and fear. Intrinsic value, by contrast, depends on a firm’s earnings power. This in turn derives from the capital assets on its books: its factories, machines, office buildings and so on. + +The approach leans heavily on company accounts. The valuation of a stock should be based on a conservative multiple of future profits, which are themselves based on a sober projection of recent trends. The book value of the firm’s assets provides a cross-check. The past might be a crude guide to the future. But as Graham argued, it is a “more reliable basis of valuation than some other future plucked out of the air of either optimism or pessimism”. As an extra precaution, investors should seek a margin of safety between the price paid for a stock and its intrinsic value, to allow for any errors in the reckoning. The tenets of value investing were thus established. Be conservative. Seek shares with a low price-earnings or price-to-book ratio. + +The enduring status of his approach owes more to Graham as tutor than the reputation he enjoyed as an investor. Graham taught a class on stockpicking at Columbia University. His most famous student was Mr Buffett, who took Graham’s investment creed, added his own twists and became one of the world’s richest men. Yet the stories surrounding Mr Buffett’s success are as important as the numbers, argued Aswath Damodaran of New York University’s Stern School of Business in a recent series of YouTube lectures on value investing. The bold purchase of shares in troubled American Express in 1964; the decision to dissolve his partnership in 1969, because stocks were too dear; the way he stoically sat out the dotcom mania decades later. These stories are part of the Buffett legend. The philosophy of value investing has been burnished by association. + +It helped also that academic finance gave a back-handed blessing to value investing. An empirical study in 1992 by Eugene Fama, a Nobel-prize-winning finance theorist, and Kenneth French found that volatility, a measure of risk, did not explain stock returns between 1963 and 1990, as academic theory suggested it should. Instead they found that low price-to-book shares earned much higher returns over the long run than high price-to-book shares. One school of finance, which includes these authors, concluded that price-to-book might be a proxy for risk. For another school, including value investors, the Fama-French result was evidence of market inefficiency—and a validation of the value approach. + +All this has had a lasting impact. Most investors “almost reflexively describe themselves as value investors, because it sounds like the right thing to say”, says Mr Damodaran. Why would they not? Every investor is a value investor, even if they are not attached to book value or trailing earnings as the way to select stocks. No sane person wants to overpay for stocks. The problem is that “value” has become a label for a narrow kind of analysis that often confuses means with ends. The approach has not worked well for a while. For much of the past decade, value stocks have lagged behind the general market and a long way behind “growth” stocks, their antithesis (see chart 1). Old-style value investing looks increasingly at odds with how the economy operates. + +In Graham’s day the backbone of the economy was tangible capital. But things have changed. What makes companies distinctive, and therefore valuable, is not primarily their ownership of physical assets. The spread of manufacturing technology beyond the rich world has taken care of that. Any new design for a gadget, or garment, can be assembled to order by contract manufacturers from components made by any number of third-party factories. The value in a smartphone or a pair of fancy athletic shoes is mostly in the design, not the production. + +In service-led economies the value of a business is increasingly in intangibles—assets you cannot touch, see or count easily. It might be software; think of Google’s search algorithm or Microsoft’s Windows operating system. It might be a consumer brand like Coca-Cola. It might be a drug patent or a publishing copyright. A lot of intangible wealth is even more nebulous than that. Complex supply chains or a set of distribution channels, neither of which is easily replicable, are intangible assets. So are the skills of a company’s workforce. In some cases the most valuable asset of all is a company’s culture: a set of routines, priorities and commitments that have been internalised by the workforce. It can’t always be written down. You cannot easily enter a number for it into a spreadsheet. But it can be of huge value all the same. + +## A beancounter’s nightmare + +There are three important aspects to consider with respect to intangibles, says Mr Mauboussin: their measurement, their characteristics, and their implications for the way companies are valued. Start with measurement. Accounting for intangibles is notoriously tricky. The national accounts in America and elsewhere have made a certain amount of progress in grappling with the challenge. Some kinds of expenditure that used to be treated as a cost of production, such as r&d and software development, are now treated as capital spending in gdp figures. The effect on measured investment rates is quite marked (see chart 2). But intangibles’ treatment in company accounts is a bit of a mess. By their nature, they have unclear boundaries. They make accountants queasy. The more leeway a company has to turn day-to-day costs into capital assets, the more scope there is to fiddle with reported earnings. And not every dollar of r&d or advertising spending can be ascribed to a patent or a brand. This is why, with a few exceptions, such spending is treated in company accounts as a running cost, like rent or electricity. + +The treatment of intangibles in mergers makes a mockery of this. If, say, one firm pays $2bn for another that has $1bn of tangible assets, the residual $1bn is counted as an intangible asset—either as brand value, if that can be appraised, or as “goodwill”. That distorts comparisons. A firm that has acquired brands by merger will have those reflected in its book value. A firm that has developed its own brands will not. + +The second important aspect of intangibles is their unique characteristics. A business whose assets are mostly intangible will behave differently from one whose assets are mostly tangible. Intangible assets are “non-rival” goods: they can be used by lots of people simultaneously. Think of the recipe for a generic drug or the design of a semiconductor. That makes them unlike physical assets, whose use by one person or for one kind of manufacture precludes their use by or for another. + +In their book “Capitalism Without Capital” Jonathan Haskel and Stian Westlake provided a useful taxonomy, which they call the four Ss: scalability, sunkenness, spillovers and synergies. Of these, scalability is the most salient. Intangibles can be used again and again without decay or constraint. Scalability becomes turbo-charged with network effects. The more people use a firm’s services, the more useful they are to other customers. They enjoy increasing returns to scale; the bigger they get, the cheaper it is to serve another customer. The big business successes of the past decade—Google, Amazon and Facebook in America; and Alibaba and Tencent in China—have grown to a size that was not widely predicted. But there are plenty of older asset-light businesses that were built on such network effects—think of Visa and Mastercard. The result is that industries become dominated by one or a few big players. The same goes for capital spending. A small number of leading firms now account for a large share of overall investment (see chart 3). + +Physical assets usually have some second-hand value. Intangibles are different. Some are tradable: you can sell a well-known brand or license a patent. But many are not. You cannot (or cannot easily) sell a set of relationships with suppliers. That means the costs incurred in creating the asset are not recoverable—hence sunkenness. Business and product ideas can easily be copied by others, unless there is some legal means, such as a patent or copyright, to prevent it. This characteristic gives rise to spillovers from one company to another. And ideas often multiply in value when they are combined with other ideas. So intangibles tend to generate bigger synergies than tangible assets. + +The third aspect of intangibles to consider is their implications for investors. A big one is that earnings and accounting book value have become less useful in gauging the value of a company. Profits are revenues minus costs. If a chunk of those costs are not running expenses but are instead spending on intangible assets that will generate future cashflows, then earnings are understated. And so, of course, is book value. The more a firm spends on advertising, r&d, workforce training, software development and so on, the more distorted the picture is. + +The distinction between a running expense and investment is crucial for securities analysis. An important part of the stock analyst’s job is to understand both the magnitude of investment and the returns on it. This is not a particularly novel argument, as Messrs Mauboussin and Callahan point out. It was made nearly 60 years ago in a seminal paper by Merton Miller and Francesco Modigliani, two Nobel-prize-winning economists. They divided the value of a company into two parts. The first—call it the “steady state”—assumes that that the company can sustain its current profits into the future. The second is the present value of future growth opportunities—essentially what the firm might become. The second part depends on the firm’s investment: how much it does, the returns on that investment and how long the opportunity lasts. To begin to estimate this you have to work out the true rate of investment and the true returns on that investment. + +The nature of intangible assets makes this a tricky calculation. But worthwhile analysis is usually difficult. “You can’t abdicate your responsibility to understand the magnitude of investment and the returns to it,” says Mr Mauboussin. Old-style value investors emphasise the steady state but largely ignore the growth-opportunities part. But for a youngish company able to grow at an exponential rate by exploiting increasing returns to scale, the future opportunity will account for the bulk of valuation. For such a firm with a high return on investment, it makes sense to plough profits back into the firm—and indeed to borrow to finance further investment. + +Picking winners in an intangible economy—and paying a price for stocks commensurate with their chances of success—is not for the faint-hearted. Some investments will be a washout; sunkenness means some costs cannot be recovered. Network effects give rise to winner-takes-all or winner-takes-most markets, in which the second-best firm is worth a fraction of the best. Value investing seems safer. But the trouble with screening for stocks with a low price-to-book or price-to-earnings ratio is that it is likelier to select businesses whose best times are behind them than it is to identify future success. + +## Up, up and away + +Properly understood, the idea of fundamental value has not changed. Graham’s key insight was that price will sometimes fall below intrinsic value (in which case, buy) and sometimes will rise above it (in which case, sell). In an economy mostly made up of tangible assets you could perhaps rely on a growth stock that had got ahead of itself to be pulled back to earth, and a value stock that got left behind to eventually catch up. Reversion to the mean was the order of the day. But in a world of increasing returns to scale, a firm that rises quickly will often keep on rising. + +The economy has changed. The way investors think about valuation has to change, too. This is a case that’s harder to make when the valuation differential between tech and value stocks is so stark. A correction at some stage would not be a great surprise. The appeal of old-style value investing is that it is tethered to something concrete. In contrast, forward-looking valuations are by their nature more speculative. Bubbles are perhaps unavoidable; some people will extrapolate too far. Nevertheless, were Ben Graham alive today he would probably be revising his thinking. No one, least of all the father of value investing, said stockpicking was easy. +I've been saving diligently for a house deposit and have now reached \~£50k in savings, which would translate to a 20-25% deposit where I am looking to buy. + +I don't want to buy for at least 2 more years, do I continue saving for a house to up my LTV or do I increase pension contributions (currently contribute 10% + 5% employer) + +I have no other debt or short term goals +Mom :"how are your cryptos going?" +Me: "lost 250 dollars in two days, prices are in the basement" (<—broke ass student) +Mom: "told you this isn't real. Glad you learned it finally. Time to get a real job" +Me: "i just bought more" +Mom"WTF" +Is there any hope of house prices dropping in near future, or is this it basically, rising 10%+ per year? + +Context for asking: Partner and I combined income of 53k and deposit of 35k, no houses in 10 mile radius are under 300k, seems hopeless to get a house for our small family of 3. +Not sure if this is the right sub. + +Moved into a rental in January, and was told by the estate agent that we could use Homeshift to set up all our bills etc. they didn’t tell us that they get paid for each person who signs up. I’m trying to find the initial recommendation to get their exact wording. + +Anyway, our absolutely awful broadband is going up by 40% next month after just 6 months. We are on a rolling monthly contract so there’s little we can do other than leave, which would be fine if we hadn’t paid a non-refundable £75 setup fee. + +The service has been awful, and a £25>£35 increase after 6 months is unheard of for me. It’s also incredibly annoying paying £25/mo for 10mbps down/ 1mbps up on a good day. + +The competitors are all around £20/month with setup <£5. We had chosen Homeshift as they were ‘recommended’ by the agents and a rolling contract would be useful in case fibre made its way into our area. + +Obviously - should have done more research beforehand but their online reviews were far more respectable then so didn’t feel the need to. + +All in all would not recommend. We haven’t even had a water bill yet and it’s been six months. + +EDIT: update - I checked for quotes with a new account for the same address after the date it is supposed to go up and they are offering the old rate, so it looks like their business model is to increase charges aggressively at the 6 point mark. Still a setup fee though. +If you are not up to seed on the Fidelity situation you should go read some posts, their official 'opinion piece Market watch article with a butthole response to their customers' and form an opinion on the situation. For those that can't be bothered: Things went from 'goody good good' to 'ciringey nightmare shit' overnight. Fidelity has even downgraded GME sentiment to 'burning feces' overnight, the wilder end of the perfectly plausible spectrum of accusations ends at them loaning retails un-lendable shares for short sellers anyways, on the daily. + +We should just assume Interactive Brokers is up to similar things or has in the very least been set up to be, because that would appear to be the way the world is stacked against us ATM. + +In the very least when weird things start happening ask questions, call bullshit on everything first and make things public. + +I myself quit waiting for the letter and just sent another DRS order out, this time for a far more substantial amount of shares. + + +It was the internet in the late ’90s, social media in the 2000s, and digital currency (crypto) in the 2010s. Facebook’s Metaverse might be one of the greatest investment opportunities in the 2020s. If you are following Facebook’s Connect 2021 conference you will realize how much deep Facebook now Meta has invested in the platform. They own Oculus which is the first step towards VR/AR metaverse. The application of Metaverse based platforms is immense and beyond gaming and virtually every aspect of our lives. Here are some of the potential companies to benefit from: + +1. Unity Software: Virtually all applications will be developed either on Unity or Unreal Engine. + +2. Autodesk: They own 3D Max and Maya which again might be used to develop VR/AR applications. Plus they have various Building Information Modelling tools like Revit and Navisworks which might be useful in creating Metaverse beyond gaming. + +3. Matterport: 3D scanning + +4. Trimble: Again they have Sketchup and various 3D scanning tools + +5. Shopify and Amazon: They might be the first ones to create virtual stores. + +6. Microsoft: They own Minecraft and have developed ‘Hololens’ + +7. Roblox: The platform already works with Oculus. + +Let me know if there are any other key players which I have missed. + +Edit# NVDA & AMD +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +I've been through some hard spots in my life, and I've had to eat really, really cheaply. Back during these times, I've had a hard time finding truly cheap meals to make that had decent nutrition on the internet. I've decided to share what I have come up with, along with the prices of each meal. I encourage others to add their own meals, so people have a place to look up the cheapest they can eat in times of need. + +Note: All prices are non-sale items, in my area. Your area might have different prices, but this will at least give you an idea of where to start if you need to make your food budget last. + +Meal 1: +1 cup Oatmeal, $0.20 (bought per pound in bulk, at $0.99 per pound) +3 tablespoons Peanut Butter, $0.15 (bought in 2 pound containers, at $2.98 per container) +1 Banana, $0.20 (bought at $0.59 a pound) +1 cup Skim Milk, $0.21 (bought at $3.39 per gallon) + +Meal 2: +0.5 cup White Rice, $0.08 (bought at $8.49 for 25 pounds) +0.33 cup Pinto Beans, $0.17 (bought at $20.00 for 20 pounds, dry beans) +0.5 cup diced tomatoes, $0.21 (bought at $1.29 for 28 ounces) +1 medium Carrot, $0.17 (bought at $0.99 per pound, assuming 6 carrots a pound) +1 cup Skim Milk, $0.21 (bought at $3.39 per gallon) + +Meal 3: +0.25 pound(US) Whole Wheat Spaghetti, $0.13 (bought at $0.50 per pound) +0.75 cup Diced Tomatoes, $0.32 (bought at $1.29 for 28 ounces) +1 tablespoon Cajun Seasoning, $0.11 (optional, bought at $1.48 for 8 ounces) +1 cup Skim Milk, $0.21 (bought at $3.39 per gallon) + +Total: $2.37 +Nutritional Facts: +https://imgur.com/a/Hrqpo + +All meals are prepared very basically, which means that I just prepared the pasta, rice, or beans, added the diced tomatoes and seasonings, and ate. + +Cost per nutrient can be found at this link for additional help(Thank you to AmNotLost for the link): http://efficiencyiseverything.com/food-nutrition-per-dollar/ + +Extra meals ideas: https://www.leannebrown.com/cookbooks/ +Thanks to meatsuitmechanic for the link! + +**Additional Meals:** +Along with the links above and the suggestions below, I have priced out some other meals I tend to eat now, but are still cheap enough to consider. + +Breakfast: (Assume 1 cup of Skim Milk with each meal) +3 Large Egg, $0.24 (bought at $0.99 a dozen) +2 Slices of Bread, Homemade, $0.02 (made at $0.17 a loaf, [Recipe](https://www.abreaducation.com/content/lesson1-first-loaf), using flour from a 25 pound bag and yeast from a 2 pound pouch) +The above can also be made into French Toast easily, with some vanilla extract, cinnamon, and sugar as a topping +Spinach would go well here as well, as neatureotter has stated in the comments + +Lunch: (Assume 1 cup of Skim Milk with each meal) +Meal 1: +0.5 cup Pinto Beans, $0.25 (bought at $20.00 for 20 pounds, dry beans) +2 ounces Cheddar Cheese, $0.50 (bought at $3.99 a pound, end cuts) + +Meal 2: +0.5 cup Dry Lentils, $0.27 (bought at $1.28 a pound) +1.5 tablespoons Olive Oil, $0.12 (bought at $2.56 for 17 ounces) + +Dinner: (Assume 1 cup of Skim Milk with each meal) +Meal 1: +1 cup Dry Elbow Macaroni, $0.22 (bought at $0.88 a pound, can use Whole Wheat Spaghetti for a lower price) +2 ounces Cheddar Cheese, $0.50 (bought at $3.99 a pound, end cuts) + +Meal 2: +2 Slices of Bread, Homemade, $0.02 (made at $0.17 a loaf, [Recipe](https://www.abreaducation.com/content/lesson1-first-loaf), using flour from a 25 pound bag and yeast from a 2 pound pouch) +2 tablespoons Peanut Butter, $0.10 (bought in 2 pound containers, at $2.98 per container) + +Meal 3: (This is for 4 servings) +0.66 amount of ingredients for Bread, $0.11 (make and knead the bread dough, then set in fridge for 24 hours) +0.25 amount of pizza sauce made from this [recipe](https://www.allrecipes.com/recipe/44975/easy-pizza-sauce-iii/), $0.35 ($0.72 for tomato sauce, $0.49 for tomato paste, $0.20 for spices for full batch) +0.5 pound of Mozzarella Cheese, $1.99 (bought at 3.99 a pound, end cuts) +Bake for about 15 mins at around 400 degrees +Each serving (1/4 of the pizza) comes out to $0.61 + +Edit: I understand this isn't hitting 100% nutrition in all areas, but it should be able to keep you going in times of need. +Added the amounts I had to buy to get the price I did per serving. +Added link provided by AmNotLost for cost per nutrient list. +Formatting and spelling +Added Additional Meals Section +**Thank you to whoever gave me gold!** +on the 5th november 2017 my 14 year old self invested around 400 gbp in bitcoin, sadly on the 11th nov 2017 - btc took another hit and fell but we came back even stronger; like a boomerang. my initial investment was 638$ since it had lowered. luckily thanks to this amazing subreddit, JUST before i was about to submit an order on bittrex for btc to bcash, a ton of users persuaded me with posts they'd made. right now - i check that investment, its worth a whopping 2.2k USD +I recently started filling out my taxes for 2021. I've been using TurboTax for the past few years, but this is my first year selling a lot of puts and calls. Problem is, at the end of the TurboTax process, they have an error checker that requires you to manually change the dates of the trade. Since the date you sell the call/put happens before the expiry date, you have to go in and manually change EVERY. SINGLE. ONE. + +What software are you guys using for your taxes, and is it user friendly when dealing with a large amount of selling puts/calls? +Hi, + +I've only been trading a couple weeks. Made +10% overall P/L from boring stocks the first week. Decided to up the risk and go full-on option-dumb. Right now am about a -5% loss overall P/L from options, which could grow up to -40% if the DKNG meme-stock doesn't start improving. + +I don't like seeing red so decided to move away from WSB, occasionally skim a few percents from the gullible pennystock bagholders, and move to the less-risky theta-ganging. + +I've read some articles and get the basic idea: sell an option, buy a cheaper option, collect premium. What's a good resource for detailed explanations and walk-throughs of what people look for in a good buy and the thought process behind someone's plays? Any recommended sites/books/videos? + +I assume you want to find options with big premium differences between strikes, and of course need to do some research of your own to make sure you're playing on the right side of the chart. I assume prior to earnings is a good time, since volatility will be high, and sell before the ER. +Hi gang, I've recently started dabbling into the topic of standard deviation, it's relation to historical volatility and how it can be used to calculate the probability of a stock making an X% move in either direction (understanding of course that past performance is no guarantee of future performance). + +However, unless I'm doing something wrong to calculate my strike prices to fall at least 1 standard deviation (adjusted for days to expiration) away from the stock price when I look for the prices on said strikes these are way too cheap for the sell to be worth the risk. + +I'm currently using Google Sheets to get the closing prices of a stock in the past year, calculating the average daily return %, then getting the daily standard deviation %. Once I get that number I adjust for dte by multiplying for the square root of dte and applying it -/+ to the current strike price to get my lows and highs... Is it me doing something wrong? Or are prices one standard deviation off the price always that cheap? + +TLDR: Are contracts 1sd off the current stock price usually cheap or am I calculating the strike prices wrong? + +Edit: Thanks for the helpful responses. TIL Delta is a better indicator than Standard Deviation based on historical volatility, that a delta of 16 is essentially a 1 standard deviation value, and that better risk reward ratios are at around 20-30 delta which are still pretty safe in terms of probabilities of the options expiring OTM. +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +Hi guys, I'm looking to the possibility of a permanent wage from the wheel options strategy. In your experience, what % ROI do you earn each month. I've only been using this strategy for a few months and it seems that I am managing to receive about 5% to 10% of my investment. + +My experience: 5000$ investment, roughly $250 to $500 returns per month. + +As I am new to options trading I am not sure if I am just getting lucky or if this is a reliable income strategy. I am considering the idea of investing 40,000 to make returns of between 2000 and 4000 per month. +What I'm thinking of doing is buying QQQ on IBKR margin, and immediately selling 0-3 DTE calls on it at the first strike above my purchase price. If I get called away, fine. If not, sell new calls above my purchase price the next day. + +This will ensure I never take a capital loss, I assume at the expense of some income. + +I am willing to hold QQQ long term if it keeps dropping, though my main goal is high income. + +Thoughts? +I have been selling CCs on shopify for a few months and it's gone pretty well. Typically 30DTE, when SHOP is up, and then buying it back when it's dropped or theta decayed enough. Works great until it doesn't! + +SHOP has done pretty well recently and my $39 12/9 call shot past what I sold it for. I am long term bullish on this stock but it is fluctuating quite a bit and I anticipate that to continue. + +My CC strategy allows for this to be called away if it does shoot past and I am significantly ahead of buying and holding at this point. That said, I am also more than happy to continue to hold and sell increasingly higher strikes. However, given the time period and the recent runs, I still expect a pullback. Rolling "buys" me some time, and a $40 1/6 Call is a dollar more. + +If I'm wrong, I made an extra dollar on premium and an extra dollar on the strike. That represents a 5% increase for less than a month. ($2/$40). + +Looking through other posts on this topic, I know there's a lot of conflicting information and opinions. I'm curious to hear what you think about my decision and where I went wrong (or right, but this is reddit :)). +Hello everyone, + +I recently started selling CCs on a high IV stock that I have been holding for 2 years (up 50% from purchase price) and want to get rid of. My understanding is that if I sell OTM >30day CCs that I am at no risk of paying short term gains on the underlying when I eventually get assigned. Is that correct? +Please use this thread to discuss whatever you're interested in trading today; pics for positions over $2000 are required as this can give you credibility since your 'money is where your mouth is'. + +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep bragging to a minimum; remember every dollar you make is a dollar someone else lost. + +Since this thread is likely to fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Hey guys - semi-new member here. + +Is there anything wrong with selling CSPs on a stock that you already hold? + +I have 200 shares of PLTR and wouldn’t mind grabbing another 100 or two. + +Thanks! +Has anybody tried copying the trades published by the tastytrade team? The entire premise of their platform is built around theta gang play which is perfect for us. + +They have of course done more research, back testing and applied the best practices in their trades. So wondering if copying what they do is a good formula for success +For whatever reason, the bird part of my brain looks at a bunch of $2 wide spreads on just SPY and goes, "oooo! We can make x amount in 3 weeks!" I only put up half my account on any given day I trade unless I need to roll. I guess Mr. Bird up here likes "big number from one trade" better than "almost that same exact amount with 5 times the tickers and much more safety." + +Am I alone on this? I'm too afraid to ask anywhere else to be quite honest. +I've done a lot of research I'll be keeping it small to learn what I am doing + +And I'll be staying 2 std out at all times. + + +Is there anything is specific that I should think of before I go ahead and do this. + +I've learned a ton and know the risks it is just my first time and I am nervous much like I was with covered calls. + +Are there any good books on the topic? +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep bragging to a minimum; remember every dollar you make is a dollar someone else lost. +I'm testing my portfolio so as to not get margin called in the event of a 20% sudden draw down. However, in March 2020 the market fell 34% from its all-times high (and I got my ass handed to me). Unlike then, now my portfolio is overall vega positive so that should help as well. All in all, I wonder whether my precautions are good enough. + +How do you stress test your portfolio - what parameters and tools? +how the hell does this work? Or does it. This position consists of 4 legs. Even one hour before, the credit is over $20 for $100 collateral. You just need the stock to stay within a couple dollars to make max profit. I simulated this with optionstrat buying 14 condors. Not even a full hour later I’m already up about $70, 20% or max profit. Max profit of almost $370 for just over a grand in collateral isn’t too shabby. Apparently optionsprofitcalculator thinks it’s 100% chance of profit but I doubt that. What do y’all think? +I'm curious who was trading during and through the huge collapse. What were your positions? Did you do a fire sale and try to dump all of your positions or simply hedge? + +I was like 10 when the crisis happened and it didn't really affect my family until 2011 when the job market in Idaho evaporated and both my parents were out of work and we lost our house. + +After being around in Feb/March of 2020 I'd love to know how the market sentiment in 07/08 compared. Was it just full blown panic? Were there a lot of bulls constantly trying to call the bottom? + +I'm also curious about the stocks that zeroed or failed. Was the LEH or BSC options activity comparable to anything that has happened in the past year? I'm imagining there were a lot of millionaires popping up that decided to go all in on puts. + +Interested to hear anybody's thoughts. +Things are rosy at the moment, everybody is making money but we all know what goes up must eventually come down. +What are your strategies for a bear market or correction ? I am new to this but thinking of buying SPY leap puts and roll them as we go. + +How does the theta gang hedge ? +I own about 1200 shares of $AI at around a $50 cost basis. This entire summer I have been selling calls daily and then closing them the same day when I realize a 10% return. It doesn’t occur everyday, but worse comes to worst I hold for a few days and sure enough it always hits 10+%. I know this isn’t a sustainable strategy and I am aware of the consequences of it. I just want to know what greek I am trading. I have a feeling I am swing trading the delta on the calls with a flavor of theta decay. Thanks for your opinions. +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +Hey guys, new here but been selling monthly covered calls for a few now. I was wondering if you had any advice on how to maximize the premiums you could when putting an order through. Whenever I sell I always get like 10% less than the last price. Additionally, if I try doing limit orders none of them ever get executed. Super frustrating. +I think I made a post about this either 3 weeks or 5 weeks ago but deleted it because I felt embarrassed by it for some ridiculous reason. I wanted to try again because things are truly dire now. + +Brief backstory. I'm almost 30, male, living at my parent's house. I might cop some flak for this, but my father is very supportive and has recently told me that I don't need to worry about finances and that he will help me stay afloat (car insurance, food, fuel, gym fee) until I find something work-wise. I'm incredibly grateful but very guilty for this help. + +I've been unemployed for 8 months. Prior to this I worked in disability support for 3 years across 4 different companies. I left the job as I felt burnt out and had honestly lost the care factor towards the job that I initially had and couldn't get it back. I don't regret it and learnt a lot. + +My current issue is that I feel VERY stuck in terms of what to do now. I worked many random jobs for 1-2 months between 23 and 26 such as process worker, security guard, door-to-door sales, washing cars, studied a few random certificate II's and III's that got me nowhere. + +I have never had any pull in any direction, and it has plagued me for my whole life. I have felt increasingly stressed as I have aged as I feel that if I don't pick something soon, I am stuffed. + +The last 8 months I've had countless interviews for other disability positions that I knew I didn't want. I even started 2 disability jobs but quit within 2 weeks as my brain basically told me dude you truly don't want to do this, and this is making your mental health go downhill, you don't care about this job at all, and you can't fake compassion and empathy for upwards of 8hrs on a shift. + +I'm so scattered right now. I could really use some advice. I don't know what to read or where to go now. I feel like I am out of ideas as to what I should aim for now. I hate this situation so much. I don't believe in finding a job you love by the way and it's not what I am trying to do. But I know for me, in my gut, that I can't work a position and commit to it long-term knowing that it is not where I want to be and causes me to feel very low. + +I am all ears to any insight please. +I'll start, I've heard that a well run florist business can be incredibly profitable. Also shop fitters seem to make $$$ especially the higher end specialists, a boutique shop fit out can be well in excess of $600-800k for a small retail shop. +Bittersweet feeling. Just called my bank and instantly got my variable rate dropped from 2.6% to 1.9%. + +Bitter because I thinking I lost at least 10k in not doing this earlier. + +First house we own so I was naive thinking the cash rate savings would automatically be passed on to us during the last two years. I signed the mortgage at 2.9% two years ago so the Bank only dropped 0.3% without me picking up the phone. At least something. But now getting another 0.7% drop that I probably could have gotten at least a year earlier already?? + +How often do you negotiate your interest rates? I kinda assumed it would be a no go during the first 12-24 months of your first mortgage , but now thinking it something I should have done as soon as I noticed cash rate drops were not passed on? +I (24f) have been saving up for a deposit for a couple of years while living with family (incredibly fortunate to do so). Had a goal to save up a 10% deposit by the end of this year and hit it this pay day! + +Will carry on at the same pace for a few more months to cover fees and then hopefully more 90% LTV will come back early next year (is that being optimistic?). + +Anyway just wanted to say thank you as a long time lurker of the great advice in this sub! +As we've seen, there's been a lot of fuckery going on with short selling on GME. See these posts + +[https://www.reddit.com/r/wallstreetbets/comments/kqf2g8/gme\_gang\_failures\_to\_deliver\_prepost\_wsb\_wsb/](https://www.reddit.com/r/wallstreetbets/comments/kqf2g8/gme_gang_failures_to_deliver_prepost_wsb_wsb/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +[https://www.reddit.com/r/wallstreetbets/comments/kr02y8/gme\_gang\_18\_consecutive\_days\_on\_nyse\_threshold/](https://www.reddit.com/r/wallstreetbets/comments/kr02y8/gme_gang_18_consecutive_days_on_nyse_threshold/) + +Basically, it seems like there is a ton of naked short selling going on and no one is doing anything about it. Thus, I propose a complaint campaign to get someone (cough, perhaps a government body who was designed to look into shit just like this, cough) to do something. + +We can submit complaints here: + +[https://www.sec.gov/tcr](https://www.sec.gov/tcr) + +There is literally an exact category for this ("Manipulation of a Security" and then select "Abusive Naked Short Selling"). + +I'm a simpleton autist, I don't get fancy with my words but I've drafted a basic letter here that you can use: + +*To whom it may concern,* + +*This letter serves to bring the SEC’s attention to suspected illegal activity in GameStop Corporation’s (ticker GME) trading. As a shareholder in GME, I have concerns about illegal naked short selling and increasing failure-to-deliver rates in the month of December 2020 through present day. GME has consistently appeared on the NYSE Threshold Security list for the last 18 trading days. In order to appear on the threshold list, a stock has to have 0.05% of outstanding shares fail-to-deliver, for GameStop this amounts to roughly 350,000 shares.* ***GME’s failure to-delivery rates have exceed this amount on most trading days in December 2020***\*.\* ***Furthermore, on at least three trading days in December,*** ***the total number of shares failed-to-deliver exceeded 1 million***\*. Below is a summary of trading days in December which had exceptionally high failures-to-deliver:\* + +*12/1: 91,971 @ $16.56* + +*12/2: 1,061,397 @ $15.80* + +*12/3: 1,787,191 @ $16.58* + +*12/4: 999,475 @ $16.12* + +*12/7: 1,002,379 @ $16.90* + +*12/8: 872,292 @ $16.35* + +*12/9: 721,361 @ $16.94* + +*12/10: 605,975 @ $13.66* + +*12/11: 880,063 @ $14.12* + +*12/14: 284,296 @ $13.31* + +*Given the data presented above, I request the SEC to further investigate suspected illegal naked short-selling in GME, particularly as it concerns Melvin Capital, who holds a substantial short position in the Company.* + +Now as an autist, I don't even know if I've fully got the concept down but I think I'm close enough. Would love feedback if anyone with a big brain has any. + +TLDR: Big money is playing illegal games on GME. We need to bring that shit to light + +&#x200B; + +Edit: because there are some people doubting the legitimacy of the actual complaint here, I am posting some actual sources. See this [https://www.govinfo.gov/content/pkg/CFR-2011-title17-vol3/pdf/CFR-2011-title17-vol3-sec242-203.pdf](https://www.govinfo.gov/content/pkg/CFR-2011-title17-vol3/pdf/CFR-2011-title17-vol3-sec242-203.pdf) + +specifically CFR § 242.203(b)(3) says: + +"If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a threshold security for **thirteen consecutive settlement days,** the participant shall immediately thereafter close out the fail to deliver position **by purchasing securities of like kind and quantity**" This means the shorts should have been **forced to close their positions by now.** +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +>Hertz (HTZ) is turning up the wattage on its push to have a mostly electric rental car fleet. + +>The company said Monday it will purchase 65,000 electric vehicles from upstart Tesla rival Polestar. Mostly consisting of the sporty Polestar 2 sedan, the purchases will occur over five years. Availability is slated to begin in the spring in Europe and later this year in North America and Australia. + +>“Today’s partnership with Polestar further builds on our ambition to become a leading participant in the modern mobility ecosystem and doing so as an environmentally-forward company. By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers and rideshare partners a premium EV product, exceptional experience and lower carbon footprint," Hertz CEO Stephen Scherr said. + +>The Polestar deal comes hot on the heels of one inked late last year with Tesla; where it had ordered 100,000 Tesla Model 3s. + +[Source](https://finance.yahoo.com/news/hertz-is-buying-65000-electric-vehicles-from-tesla-rival-polestar-113013540.html) + +Hertz is up +10% on this news today. +# Foreword + +u/Smogz_ has brought up an interesting point on where to keep your money post-MOASS. While many people plan to reinvest, the question still remains on how to properly store your liquid assets. Do you just keep it in the bank? How should you approach keeping your money? In this post, I will try my best to give insights and considerations on how to store your money. During my research process, I learned that there are tiers to banking, and you, my friend, will most likely be in the upper tier. I will also elaborate on this in the post. Much appreciation for Smogz\_ for brining this to light, for me at least. This post will not be as dense as my previous post. + +# Disclaimer + +I am not a lawyer or financial advisor. This is **NOT** my area of expertise. I work as a health care provider. This post is just a compilation and explanation of my research on the subject matter. I would encourage everyone to question the information below and correct me or offer new insights if possible. + +# How to Read This Post + +In this post, I will be going over 1) high-net-worth individuals, 2) accredited investors, 3) banks for high-net-worth individuals, 4) a brief explanation of asset management vs wealth management, 5) offshore banks. + +I also cite my sources. If a sentence ends in a parenthesis with a number, I am paraphrasing information from said source. If there are quotations in that sentence which ends in parenthesis, I am directly quoting said source. + +I am also expecting you have an understanding of fiduciary financial advisors, certified financial planners, certified public accountants, will writing, tax attorneys, and estate attorneys. If you need a refresher or understanding of these concepts, refer to my previous post: [https://www.reddit.com/r/Superstonk/comments/mutuhv/postmoass\_an\_indepth\_examination\_of\_financial/](https://www.reddit.com/r/Superstonk/comments/mutuhv/postmoass_an_indepth_examination_of_financial/) + +# Your Identity Post-MOASS + +After the MOASS your life will be changed. Your perception to the general public may be different as well. You're no longer just an ape. You're a rich ape. You can now enter those high-end stores and afford over priced clothing, brand name watches, and what ever brand-name accessories you want. Unless you're like me and prefer the simple jeans and anime t-shirt. But I'm still single, so maybe go a different route. But I digress. You're perception to the banks will be different as well. You'll be considered a **high-net-worth individual** (**HNWI**). As a HNWI, you may be offered fancy services such as "an invitation-only \[credit\] card with such perks as 24-hour concierge service, unlimited spending and luxury hotel upgrades" (2). Depending on where you bank, you may get you're own personal banker as well - someone who exclusively handles your account and can even pay your monthly bills if you want (7). + +The definition of a HNWI varies bank by bank but the general consensus someone with at least $1 million in cash/liquid assets or a net worth of $1.5 million dollars (2). Liquid assets include checking account, savings account, stocks, bonds, and mutual funds. Investments such as real estate or land do not typically count as part of these assets when determining your worth (although you are priceless as an ape) (2). There are even upper echelons of the rich. To be a **very-high-net-worth individual**, you're assets need to amount to $5 million. The highest tier is an **ultra-high-net-worth individual** with assets amounting to $30 million. (2) + +Being rich will unlock other perks as well. You will meet some of the criteria to become an accredited investor. + +# Accredited Investor + +What is an accredited investor? Accredited investors are regulated and defined by the SEC as someone who meets at least ONE of the following requirements: (15) + +* Have certain professional certifications or designations or other credentials or their status as a private fund’s “knowledgeable employee.” +* Have a net worth exceeding *$1 million* individually or combined with a spouse or spousal equivalent (excluding value of primary residence). +* Have earned income exceeding *$200,000* (*$300,000* if combined with a spouse or its equivalent) during each of the last two calendar years. The individual must also demonstrate credibility he or she will at least maintain these income thresholds during the current year. + +If my interpretation is correct, you must register with the SEC to become an accredited investor (fact check needed). Being an accredited investors gives you access to securities not available to the public. Such securities include: hedge funds (but why would you?), venture capital funds, private equity deals, equity crowdfunding, angel investing, private placements (15). For those who don't know what angel investing is, it's when you, as someone with a large amounts of money, invest in a business start up in exchange for some ownership or convertible debt. You're the whale that helps start up some business at the ground floor, with potential for part ownership. + +Before a company can accept your money as an accredited investor, the company needs to register/report your investment to the SEC (15). To vet that you're actually an accredited investor, the company may ask for financial statements, credit reports to confirm net worth, tax returns, W-2, professional certifications/ credentials such as a Series7, Series 65, or Series 82 license (15). So if you want to continue ~~gambling~~ investing, you now have access to the high-rollers table. + +# Banking + +So with your new found identity as a high-net-worth individual and potential accredited investor, what happens when it comes to banking? You may be banking at some of the same banks the general public uses, but you have access to its private sector. Rather, it's a **private bank**. Private banks are a specialized exclusive sector to a bank, typically reserved for high-net-worth individuals (7). These private banks are the ones that will offer you perks such as the personal banker/relationship manager (same concept). These private banks often have a minimum requirement in their account. This amount will vary depending on the private bank. \*One thing I was unable to find is if these private banks have a higher insurance on your deposit.\* That is a piece of information I would like to know but am unable to find. At the end of this section, I will list some examples of private banks and their requirements. + +These private banks may also offer services to assist in asset management and wealth management. + +# Asset Management vs. (Private) Wealth Management + +**Asset managers** help manage your assets, including investments in stocks, bonds, mutual funds, ETFs, and your portfolio overall (4). It would seem that your fiduciary financial advisor, preferably with CFP, CFA, ChFC, or RIA certifications, would assist you in asset management. + +**Wealth management** takes a broader approach and helps manages your finances in general. Wealth managers would help plan for taxes, education, legacy/estate, insurance, charity donations, and retirement (4). The roles that seem to fit wealth management would be a fiduciary with CFP certifications or a CPA. + +However, being a high-net-worth individual would mean you would have private wealth management - the rich version of wealth management. Of note, there is only one professional certification specific to private wealth management: the **certified private wealth advisor** (**CPWA**). These people are prepped to manage people with <$5 million net worth (3). When choosing a fiduciary financial advisor, you want to know what kind of clients they typically serve or what their experience entails. Well, the CPWA certification can at least ensure you that they are experienced with high-net-worth individuals. CPWA may use a different portfolio investment strategy for HNWI compared to regular investors (2). The positions that the HNWI may differ compared to the general public. In 2019, the average ultra-high-new-worth individuals had a portfolio distributed as follows: (1) + +* Property (as an investment): 27% +* Equities: 23% +* Bonds/Fixed Income: 17% +* Cash/Currencies: 11% +* Private Equity: 8% +* Collectibles: 5% +* Gold/Precious Metals 3% +* Crytocurrencies: 1% + +CPWA may offer the aforementioned services in wealth management in addition to advice with regards to social security benefits planning, investment advice, philanthropic planning, and risk management (3). Of note, financial advisors registered with the SEC have to report annually how many HNWI clients they have (2). + +**To summarize**, as a new found high-net-worth individual, you potentially qualify for private banking. Private banks would require to have large deposits in their bank. They may also offer you perks such as no limit credit cards and personal bankers. They may also offer services to aid in asset management and wealth management, which *may or may not* be comprised of financial advisors, certified financial planners, certified private wealth advisors, tax attorneys, estate attorneys, or certified public accountants. I would still recommend you vet each role individually to see if they are the right fit for you. + +List of private banks with their requirements, in no particular order: (5) + +* Bank of America Private Bank ( ≥ $3 million) +* Citigold Private Client +* Union Bank Private Advantage ( ≥ $250,000 in checkings, savings, investment, or retirement account) +* HSBC Premier Checking ( ≥ $100,000) +* Morgan Stanley Active Assets Account ( ≥ $5 million) +* UBS Resource Management Account +* BB&T Wealth Vantage Checking +* PNC Performance Select +* BNY Client Access ( ≥ $2 million) +* Chase Private Client ( ≥ $250,000) + +List of Wealth Management firms in no particular order: (21) + +* UBS Wealth Management +* Credit Suisse +* Morgan Stanley Wealth Management +* Bank of America Global Wealth & Investment Management +* J.P. Morgan Private Bank +* Goldman Sachs +* Charles Schwab +* Citi Private Bank +* BNP Paribas Wealth Management +* Julius Baer + +# Offshore Banks + +Contrary to popular belief, there is nothing illegal about banking in other countries, otherwise known as offshore banking. It's not reserved for HNWI either. Depending on the bank, it can be easily accessible to the general public. The only thing illegal is when you try evade taxes. Pay your fucking taxes. You don't have to like it but do things legit. Money amounting to over $10,000 in foreign accounts must file an IRS FBAR report (8). + +There may be some potential benefits to offshore banking as well. Offshore banking can help protect against native currency inflation, political fluctuation potentially causing market crashes, lower tax rates, higher interest rates, increased privacy, and protection of assets (13,16). + +Banks in the United States take your money and loan it out to people who need loans. They may give you minimal interest while charging loaners higher interest for borrowing that money. Banks make money based off of the interest that loaners pay back. Banks could potentially make faulty investments. If a bank goes under, you're typically FDIC insured for up to a maximum of $250,000. Banks in other countries, depending on the country, may not engage in these practices; it may be less likely that bank in a stable foreign country goes under. On the same token, the amount of money insured may be much less or non-existent (16). + +Privacy laws for offshore banks, depending on the country, may also help with privacy and protection of assets. Should a law suit be brought against you, whether as a individual, business owner, or job related, your finances and assets can be examined or potentially even frozen. Be it divorce, a false claim against you, or some sort of malpractice, having an offshore bank account can supposedly remain unscrutinized by the courts (13). So as long as that offshore bank DOES NOT have branches in the US, they cannot be pressed to divulge information about your account (13). I DO NOT know the accuracy of these claims as I am NOT a law professional. These claims need to be fact checked and hopefully a lawyer or someone more knowledgeable can vet these claims. Until then, take CAUTION with this paragraph. + +Apparently banks in the Cayman Islands are known as a tax havens while banks in Switzerland are known for their privacy (13). I will list some foreign banks below. They are mainly banks in the Cayman Islands and banks in Switzerland. There are other locations for offshore banks, such as Germany, Belize, and Singapore. I won't list them all because that'll take up so much room. I trust you can do a Google search yourself. If enough people request for me to list them, then I will edit the post and do so. Until then, I will list what I have collected. + +List of banks in the Cayman Islands, in no particular order: (17) + +* Cayman National Bank +* Alexandria Bancorp Ltd +* Alhambra Bank & Trust Ltd +* Trident Trust Company (Cayman) Ltd +* Cainvest Bank and Trust Ltd +* Fidelity Bank (Cayman) Ltd +* Merrill Lynch Bank and Trust Company (Cayman) Ltd +* Queensgate Bank and Trust Company Ltd +* Sackville Bank and Trust Company Ltd +* VBT Bank & Trust Ltd + +List of banks in Switzerland, in no particular order: (19,20) + +* Union Bank of Switzerland +* Credit Suisse, Swiss Raiffeisen +* Zurcih Cantonal Bank +* Julius Baer +* Banque Cantonale de Geneve +* Vontobel +* Migros Bank AG, Bank J. Safra Sarasin +* European Financial Group International +* Pictet Group +* Lombard Odier +* Union Bancaire Privee + +List of Banks in Singapore: See reference 18 + +# Additional Information: Insured Cash Sweep & Certificate of Deposit Account Registry Service + +Some banks participate in insured cash sweep (ICS) and/or Certificate of Deposit Account Registry Service (CDARS). These services help to insure money amounts over $250,000. ICS is a network of multiple banks. You can open a savings account or demand deposit account with ICS. What they do is distribute your money in amounts no greater than $250,000 across their network. So if you invest $1 million, the money may be spread out over four different banks, all within the ICS network. That way, your money can be FDIC insured across those banks. You will primarily still work with the one bank that you created the account with. ICS limits you to 6 withdrawals per month. CDARS works the same way but the account is a CD instead of a savings account. (9,10,12) + +I am not sure if private banks use ICS or CDARS. I am also not sure if HNWI use these services on their own. I couldn't find any information about the clients that engage in these services. With that said, I just wanted to put this information out there. Use it however you want.. + +# Afterword + +So there you have it. Post-MOASS you're hopefully a HNWI, VHNWI, or UHNWI. You have access to private banks to help you keep your money. You've created a team of fiduciary financial investor, tax attorney, CPA, and estate attorney. You spread your money across various equities, land, real-estate, commodities, etc. The rest of your money will be sitting in a private bank or offshore bank, at your disposal. Find the team that works for you. Find the private bank that works for you. Find that offshore bank that works for you. + +You may be a high-net-worth individual of any tier, but you're still an ape. Don't hoard all that money. Give back to the community. Help others in need. Make some waiter's or waitress' day by giving them a 420% tip to make their day. Remember your roots and don't become corrupted by money. Be humble. Show humility. One Love (in ole school 90's tone). + +Also, I'll list some references to check out post-MOASS if you need references. I will include this post in the reference. Post-MOASS considerations: + +* **Post-MOASS: Examining Your New Status with Consideration on Banking and Storing Assets** by u/Soluna7827 +[https://www.reddit.com/r/Superstonk/comments/n0ksdb/postmoass\_examining\_your\_new\_status\_with/](https://www.reddit.com/r/Superstonk/comments/n0ksdb/postmoass_examining_your_new_status_with/) +* **Post-MOASS: An In-Depth Examination of Financial Advisors, Tax Attorneys, Certified Public Accountants, & Wills** by u/Soluna7827 +[https://www.reddit.com/r/Superstonk/comments/mutuhv/postmoass\_an\_indepth\_examination\_of\_financial/](https://www.reddit.com/r/Superstonk/comments/mutuhv/postmoass_an_indepth_examination_of_financial/) +* **Attorneys and You: A Guide to the Newly Rich** by u/dodecaphonicism +[https://www.reddit.com/r/Superstonk/comments/mzt5sm/attorneys\_and\_you\_a\_guide\_to\_the\_newly\_rich/](https://www.reddit.com/r/Superstonk/comments/mzt5sm/attorneys_and_you_a_guide_to_the_newly_rich/) + +&#x200B; + +Edit 1: Posted link to this post in case it's reposted somewhere else. +Edit 2: Grammar and fixing some links. Also thanks for the awards! May many tendies come your way. +Edit 3: Reddit not saving some of my formatting -\_- I like to stay consistent with formatting. Kinda annoying haha. +Edit 4: Fuckin hell. Fix one thing and it reverts the fixing from the previous edits. I think it should good now. I guess I have to fix all formatting every time I make an edit >,> + +&#x200B; + +Sources (for this post): + +1. Ultra-High-Net-Worth Individual (UHNWI) + +[https://www.investopedia.com/terms/u/ultra-high-net-worth-individuals-uhnwi.asp](https://www.investopedia.com/terms/u/ultra-high-net-worth-individuals-uhnwi.asp) + +[https://www.knightfrank.com/wealthreport/global-wealth/2020-03-03-the-top-risks-to-wealth-in-2020](https://www.knightfrank.com/wealthreport/global-wealth/2020-03-03-the-top-risks-to-wealth-in-2020) + +&#x200B; + +2) What Constitutes a High-Net-Worth Individual? + +[https://smartasset.com/financial-advisor/what-constitutes-a-high-net-worth-individual](https://smartasset.com/financial-advisor/what-constitutes-a-high-net-worth-individual) + +&#x200B; + +3) What is Private Wealth Management? + +[https://smartasset.com/retirement/what-is-private-wealth-management](https://smartasset.com/retirement/what-is-private-wealth-management) + +&#x200B; + +4) Asset Management vs Wealth Management + +[https://smartasset.com/financial-advisor/asset-management-vs-wealth-management](https://smartasset.com/financial-advisor/asset-management-vs-wealth-management) + +&#x200B; + +5) 10 Checking Accounts the Ultra Rich Use + +[https://www.investopedia.com/articles/managing-wealth/050716/10-checking-accounts-ultra-rich-use.asp](https://www.investopedia.com/articles/managing-wealth/050716/10-checking-accounts-ultra-rich-use.asp) + +&#x200B; + +6) How Billionaire Investors are Protecting Their Wealth + +[https://sprott.com/investment-strategies/physical-bullion-trusts/how-billionaire-investors-are-protecting-their-wealth/#](https://sprott.com/investment-strategies/physical-bullion-trusts/how-billionaire-investors-are-protecting-their-wealth/#) + +&#x200B; + +7) What is a Private Bank? + +[https://www.moneytaskforce.com/banking/what-is-a-private-bank/](https://www.moneytaskforce.com/banking/what-is-a-private-bank/) + +&#x200B; + +8) Offshore Banking Isn't Illegal, But Hiding It Is + +[https://www.investopedia.com/articles/managing-wealth/042916/offshore-banking-isnt-illegal-hiding-it.asp#:\~:text=There's%20nothing%20illegal%20about%20establishing,the%20IRS%20or%20face%20fines](https://www.investopedia.com/articles/managing-wealth/042916/offshore-banking-isnt-illegal-hiding-it.asp#:~:text=There's%20nothing%20illegal%20about%20establishing,the%20IRS%20or%20face%20fines). + +&#x200B; + +9) How CDARS Works + +[https://www.cdars.com/home/how-cdars-works](https://www.cdars.com/home/how-cdars-works) + +&#x200B; + +10) Insured Cash Sweep + +[https://en.wikipedia.org/wiki/Insured\_Cash\_Sweep#:\~:text=The%20CDARS%20service%20allocates%20deposits,to%20money%20market%20deposit%20accounts](https://en.wikipedia.org/wiki/Insured_Cash_Sweep#:~:text=The%20CDARS%20service%20allocates%20deposits,to%20money%20market%20deposit%20accounts). + +&#x200B; + +11) Opening an Offshore Bank Account + +[https://www.investopedia.com/articles/pf/11/opening-an-offshore-bank-account.asp](https://www.investopedia.com/articles/pf/11/opening-an-offshore-bank-account.asp) + +&#x200B; + +12) How ICS and CDARS Woork + +[https://www.icsandcdars.com/how-it-works](https://www.icsandcdars.com/how-it-works) + +&#x200B; + +13) 6 Best Countries to Open an Offshore Bank Account + +[https://www.offshorecompany.com/banking/best/](https://www.offshorecompany.com/banking/best/) + +&#x200B; + +14) How to Become an Accredited Investor + +[https://smartasset.com/investing/how-to-become-an-accredited-investor](https://smartasset.com/investing/how-to-become-an-accredited-investor) + +&#x200B; + +15) What is an Angel Investor? + +[https://smartasset.com/investing/what-is-an-angel-investor](https://smartasset.com/investing/what-is-an-angel-investor) + +&#x200B; + +16) Benefits of Offshore Banking + +[https://globalbanks.com/benefits-of-offshore-banking/](https://globalbanks.com/benefits-of-offshore-banking/) + +&#x200B; + +17) Top Banks in the Cayman Islands + +[https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-the-cayman-islands/](https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-the-cayman-islands/) + +&#x200B; + +18) Banks in Singapore + +[https://sgbanks.com/banks](https://sgbanks.com/banks) + +&#x200B; + +19) Overview of Banks in Switzerland + +[https://corporatefinanceinstitute.com/resources/careers/companies/banks-in-switzerland/](https://corporatefinanceinstitute.com/resources/careers/companies/banks-in-switzerland/) + +&#x200B; + +20) List of Banks in Switzerland + +[https://en.wikipedia.org/wiki/List\_of\_banks\_in\_Switzerland](https://en.wikipedia.org/wiki/List_of_banks_in_Switzerland) + +&#x200B; + +21) The Biggest and Best Wealth Management Firms + +[https://www.investopedia.com/articles/investing/061314/best-best-wealth-management-firms.asp](https://www.investopedia.com/articles/investing/061314/best-best-wealth-management-firms.asp) +Just read through GG's report, and wanted to spread what I found to be the main takeaways in case it gets slid away. This is fantastic news for GME longs. At the very end the SEC lays out problematic aspects of our market structure that they are ostensibly going to try and address. Among these is mention of naked short selling. Get fukd hedgies + +Something that bothered me while reading, and bothers me still- if the sneeze wasnt a short squeeze, nor was it a gamma squeeze, then what the hell was it? Pure retail fomo? In which case, jesus christ on a bike. Even I'm terrified by the idea of that, and I'm long as fuck + +Love the approach GG is taking to this, he even mentioned the theory about ETF shorting. Starting to feel very hopeful about his efficacy in dealing with the clusterfuck of fraud that is the US securities market. + +🦍🦍💎🙌 + +Tl;DR- GGEZ +#Welcome to the **/r/CryptoMarkets** Monthly Discussion thread. The thread guidelines are as follows: + *** + + - Discussion topics include, but are not limited to, events of the day, technical analysis, and minor questions. + - Breaking news or other important content should be submitted as a separate post. + - Cryptocurrency discussion not related to trading should be referred to the r/CryptoCurrency general discussion thread. [See here](https://www.reddit.com/r/CryptoCurrency/comments/62teju/monthly_general_discussion_april_01_2017/). + - If you are using RES, please click the subscribe button for the comment section to be notified when new comments are posted. + - Follow the golden rule and be excellent to each other. + + *** + + Thank you in advance for your participation. Enjoy! +Grid bot is just like DCA, a tool, not a money printer. + +* *DCA buys the same amount of coins every day or week.* +* *Grid bot averaging in when the price goes down and averaging out when the price goes up.* + +*-* + +Not sure how many of you have used a grid trading bot. You can access it easily on several platforms, such as Pionex, Binance, and KuCoin. (Although they have different features for the bot, overall, it's very similar) + +Here's the takeaway after using it for 3 years: + +1. If you create one and wish it somehow automatically makes money for you, you're misusing it. +2. If you DCA into LUNA before the crash, you'll blow up your whole account. Same as Grid Bot. **The assets you're using matter!** Stick with BTC and ETH for the majority of your Bot portfolio. +3. Speaking of coins and trading pairs, I use both stablecoin trading pairs, such as BTC/USDC, and crypto trading pairs, ETH/BTC. +4. When using a stablecoin trading pair, I see it as a strategy that DCA in and DCA out for me. I like manually setting it to a wider range, $6000 - $60000 for Bitcoin. It helps me to average in down to $6000, and average out till the price hits $60000. +5. Keep it long-term. You're using a bot because you want to **DETACH YOUR EMOTION FROM TRADING!** +6. When using a crypto trading pair, ETH/BTC, it's trading your Bitcoin with Ethereum. This is my favorite bot cause when ETH outperforms BTC in the bull market, it simply sells my ETH back to BTC. It allows me to be fully exposed to crypto and not sell any of my coins back to dollars. +7. KuCoin has a leaderboard ranked by the APY of all the bots on the platform. Don't create a bot just by following the leaderboard; those bot is already making profits (bc of the recent pump of that asset), and it doesn't mean you can make the same profit. (most of the time, you are just losing money) +8. HODLing makes more money than using a grid bot. If you're an excellent HODLer and don't care to ride the rally up and down, stick with it! +9. Grid Bot is for emotional traders that help them to detach emotion from trading. +10. We like to buy high sell low here, but grid bot do the opposite from that :P +11. mega-spreadsheet that compare the features from each exchange. ⬇️ + +https://preview.redd.it/qmlshtp426m91.png?width=2296&format=png&auto=webp&s=5050e01f92a3de21ec1192d0696faa72017f8163 +#Welcome to the **/r/CryptoMarkets** Monthly Discussion thread. The thread guidelines are as follows: + *** + + - Discussion topics include, but are not limited to, events of the day, technical analysis, and minor questions. + - Breaking news or other important content should be submitted as a separate post. + - Cryptocurrency discussion not related to trading should be referred to the r/CryptoCurrency general discussion thread. [See here](https://www.reddit.com/r/CryptoCurrency/comments/62teju/monthly_general_discussion_april_01_2017/). + - If you are using RES, please click the subscribe button for the comment section to be notified when new comments are posted. + - Follow the golden rule and be excellent to each other. + + *** + + Thank you in advance for your participation. Enjoy! +I have been investing in crypto relatively seriously for a year now and am just curious what folks are buying and holding for long holds? It doesn't have to necessarily be "I am holding this forever" but I dont really get a chance to talk to anyone about this and I am very curious about what people are truly passionate about, maybe I haven't heard of it or read about it. So to kick things off here is what I am in, probably not very interesting BUT: + +Ethereum +Cardano +Ripple +Tron +Doge +BUX token +ANKR +LEXI coin + +Am considering +Litecoin +Polkadot +CRO coin + + +Anyway, what are you excited about and why? I hate Google this stuff because of FUD. +What is going on? Normally most of the other altcoins go with bitcoin. As I'm seeing right now, Bitcoin's growth is back but the rest is falling? Any driver for this behavior? +So my husband (29) and I (29) purchased our first home last year! We were excited as it is a new build and getting to pick the lot and seeing our house go from nothing to our home was fun! So we got a 30-year loan and gave a down payment and basically, our mortgage is $648 a month but we pay an extra $200 every month because we think this will lower our loan amount. I told my mom and she said that was fine but as someone who owns multiple homes, she told me to just give the $648 a month and out the extra $200 in a savings for when we refinance. I spoke to one of my uncles (also a multiple homeowner) and he told me the same thing. I wanted to ask you guys your thoughts on this! Should we keep giving the extra money or move that to a savings? + +EDIT: Here's some information I'm going to add because a lot of you are asking! + +Original loan amount: $129,000.00 +Current interest rate: 2.875% +Loan type: CONVENTIONAL RES WITH PMI + +Principal Balance: $124,749.94 +Hello people. The sentiment shows Extreme Fear among investors for quite a while now. Do you find this time good to invest in ETH or would you rather wait to see if 2.0 will be on time and there will be no more delays? Would that be safer or when they release it it might be too late to get "cheap" ETH? + +Thanks for your opinions :) +*Bear market. Fuck me. + +I've been in and out of cryptos coming up on 5 years now and am just getting back into ethereum. + +I started off when an old boss recommended I buy some Bitcoin, Gox and the like seemed rather annoying to buy from and the community was quite toxic(surprise, surprise). Instead I looked into mining some alt coins as a fun side project to learn some scripting and really get into the core tech of each coin. + +Finally dogecoins came around and I thought it was hilarious. Tipping people on reddit was fun, sending the bobsled team to the Olympics, and sponsoring a Nascar race were awesome. I put about $500 into a shitty rig and mined away for a few months. At its peak I had 300k+ coins worth ~$1200. Gox scandal happened, Bitcoin crashed and doge died with it. My coins bottomed out at $30. I considered selling and buying a nice dinner as a celebration of the fun I had but never got around to it. + +With the massive resurgence of Bitcoin last year I got curious and checked up on my old Doges. Sure enough the fucking things were worth nearly 2k. I cashed out(not at the top mind you) and started looking for real crypto to invest in. I strongly believe in the tech behind ethereum(no I can't see the future, I do have an ms in computer science but that doesn't mean shit) and like most of you think it will long outlast Bitcoin. + +Incoherent rambling aside, I'm glad to be back with y'all and wanted to share my experience of the annoying old phrase "you only lose money when you sell". +A lot of people have been asking about ways to earn interest on their stack lately. I wanted to make an all-in-one post that I could refer people to. + + ------------------------------------------------------------------------------ + +# Centralized Lending: + +**Examples:** +BlockFi, Nexo + +**ELI5 What it is:** +You put money into BlockFi. BlockFi uses this money to lend to others, primarily institutions. BlockFi gives you some of the interest from that loan. The user experience is much like using a centralized exchange. + +**"Difficulty" Level to Set up:** +Easy + +**Approximate ROI:** +6% annual ROI on most assets + +**Risk Level:** +Medium + +**Risks:** + +* These are centralized, custodial services. You are trusting them to hold onto your crypto and keep it safe. There is no insurance and it's probably even less safe than leaving your crypto on most exchanges. "Not your keys, not your crypto." + +&#x200B; + + ------------------------------------------------------------------------------ + +# Decentralized Lending: + +**Examples:** +Compound, Aave + +**ELI5 What it is:** +You put money into Compound. Compound uses this money to lend to others. Compound gives you some of the interest from that loan. These are DeFi applications, meaning you would need to interact with smart contracts via a UI and an Ethereum wallet like Metamask. + +**"Difficulty" Level to Set up:** +Moderate + +**Approximate ROI:** +1% annual ROI on ETH, 9% on stablecoins + +**Risk Level:** +Low-Medium + +**Risks:** + +* Smart contract risk - if a bug were ever found in the smart contract, it would likely have major effects for all users. The major players are pretty battle tested at this point, however. + +&#x200B; + + ------------------------------------------------------------------------------ + +# Providing Liquidity (Yield Farming): + +**Examples:** +Uniswap, Sushiswap + +**ELI5 What it is:** +You put a pair of assets into Uniswap (let's say ETH and USDT). This money is used to let traders swap between those two assets on the Uniswap platform. So, as people make trades on Uniswap, the 0.3% trading fee is distributed across everyone that provided assets. The more people trade, the more trading fees you acquire. + +**"Difficulty" Level to Set up:** +Moderate + +**Approximate ROI:** +Extremely variable. Can cause losses. Can be moderate (10%) returns. Can be monstrous (50%+) returns. + +Think of it like you're selling shovels in a gold rush. + +* The more people gold rushing, the more shovels you sell. +(As trading volume goes up, that means more fees for you) +* The more people selling shovels, the less shovels you sell due to competition. +(The more liquidity providers there are, the more people the trading fees are distributed across) +* If you pick the best place to sell shovels, you'll sell even more shovels. +(Each liquidity pool is different. If you pick a hot pair of assets, there will be lots of trading volume.) + +**Risk Level:** +Medium-High + +**Risks:** + +* Smart contract risk - if a bug were ever found in the smart contract, it would likely have major effects for all users. The major players are pretty battle tested at this point, however. +* Impermanent loss. These pools keep your assets in a 50/50 balance as prices fluctuate. If one of your assets craters, you will end up with lots of that asset and much less of the other. Providing liquidity on ETH and a small cap token can be extra risky (but also, potentially extra profitable). + +&#x200B; + + ------------------------------------------------------------------------------ + +# ETH 2.0 Staking: + +**Examples:** + +* Can be done on your own with various clients +* Can be done through exchanges like Kraken and Binance +* Can be done through decentralized protocols like Rocketpool + +**ELI5 What it is:** +The Ethereum network will soon be secured by people locking up ETH rather than running mining computers. For those that have 32 ETH, they can run ETH 2.0 validators using their own computer. For those that have less than 32 ETH (or don't want to go to the trouble of running it themselves), they can use staking services that pool together ETH from multiple people. This staked ETH is used to run and secure the ETH 2.0 chain, which had a phase 0 launch in December 2020. It runs in parallel to the current ETH 1.0 chain for now, and the two will eventually merge. + +**"Difficulty" Level to Set up:** + +* Easy for custodial services +* Moderate difficulty for decentralized options +* Relatively high difficult to run it on your own + +**Approximate ROI:** +9% on ETH, but will likely decrease over time. Some staking services also take a cut for themselves. + +**Risk Level:** +Medium + +**Risks:** + +* Technical upgrade risk. This is a major migration involving new software. There's no guarantee it will all go 100% perfectly. +* Lock-up phase. Once your ETH is in, you're locked into holding until ETH 2.0 receives more functionality upgrades. Some custodial services offer ways to escape this lock-up phase early, so always look into the full details. +* Slashing. Validators that aren't available or are found to be misbehaving can be slashed, resulting in some of their staked ETH being burnt. +**[I posted this about 30 minutes before the 'official' results post ... mostly to save the OP some time. Didn't work out that way.]** + + + +I am writing a short article on the price prediction survey posted here recently. That required me to tally the results. I sent the spreadsheet link to /u/LucidChain - who started the original thread. At the very least, if they plan to do some in-depth analysis this will save them the data entry part. Please send all your gold/admiration/etc to the OP. + +I just thought I would share this since I've already input it all. Link to the spreadsheet is below. Yes - I double checked it *cringes*. I did discard the 900k USD prediction... feel free to make a copy and put it back in if you so choose. + +All the best. + +---------------------------- + +458 number of predictions for April + +532 number of predictions for Jan + +$1,452.30 AVERAGE prediction for April + +$5,029.39 AVERAGE prediction for Jan + +2.07% PERCENT bearish from April to Jan + +-------------------------------------------- + +https://docs.google.com/spreadsheets/d/1PDYe1iIjWaB4L2J8fE-Vp7W8lAcBeiLGYsCJNBUXICQ/edit?usp=sharing + +The crowdsale at https://www.rocketpool.net/token/crowdsale was supposed to be closed at midnight UTC but did not reach its target of 5900 UTC - it stands at 3,245.62 ETH now at https://etherscan.io/address/0x5f5ccb699caaa517c51410bc43979d27f51ba1c2 + +Rocketpool was featured by /u/EvanVanNess in this podcast: http://thebitcoinpodcast.com/an-ethereum-podcast-episode-6/ and is working towards a beta release: https://www.rocketpool.net/ + +Back in the day people would throw money at anything - nowadays even a technologically highly relevant project (enabling Casper staking pools) fails to hit the cap. +Ian Balina received Mainframe presale tokens to his "hacked" ETH address [https://etherscan.io/address/0xeca2592e788c76f2e3cd4eb6ffcdbe5cf8141c72#tokentxns](https://etherscan.io/address/0xeca2592e788c76f2e3cd4eb6ffcdbe5cf8141c72#tokentxns) + +Immediately, these were sent off to Binance. Would love to see how he can talk his way out of this. Expose this scammer asap +This sub is very anti-shitcoin and sure why shouldn't it be, people are thinking some just made shitcoins are a better investment than some utility crypto. Over the longterm the utility always wins and hype leaves. + +But thus subs own crypto MOONS are also, definitely, a shitcoin. It's far away from any utility, let liquidity be it is not even listed on ANY good-enough exchanges, let alone the major ones. There is no easy or understandable way from selling those apart from a 45 step swap. + +And there is no real roadmap for the near future with specific dates. The only thing we know is that a mainnet is coming. Someday. + +I definitely do not say MOONS will forever be shit, but they for now are and there is no point against that and in also sure people are currently working to change that and I appreciate those people. + +Just don't push MOONS as some breakout crypto for now... + +*liquidity +Like many here I take a diversified approach to to my investments. I put 65% in a total US stock market index and 35% in a total market international index. Over the last 20 years since these funds were introduced by vanguard the international index fund (VGTSX) has seen only 25% growth while the US index fund (VTSAX) has seen 180%. I'm in my early 30's and I'm wondering if I should keep investing fairly heavily in VGTSX or go totally VTSAX or at least a little heavier. I am trying to look at it as "I'm buying VGTSX at a discount/good price" but the 20 year history isn't great and starting to question it. Opinions welcome! +[https://imgur.com/WjIVx6h](https://imgur.com/WjIVx6h) + +I saw a really good question here about how much your FI percentage accelerates over time. E.g. how long does it take to get from 10% to 20% vs. 80% to 90%. + +So I did some math and made a graph. The answer to this question depends heavily on the savings rate. If you have a high SR, there is not much acceleration, because you have less time for the interest to work for you. If you have a low savings rate, the interest does more work and you have more acceleration. (Of course, higher SR always means sooner FI). + +Basic assumptions: + +Income, expenses, savings rate are constant. + +Your money grows at 7% per year, compounded annually + +The income number itself is arbitrary, it won't change the graph. + +Code below. I'm a Python newb so suggestions very welcome. + + import numpy as np + import matplotlib.pyplot as plt + + # Define initial conditions + income = 100000 + growth_rate = 0.07 + SWR = 0.04 + savings_rate = np.array(0.2 * np.array(range(1, 5)))