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winddude

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reddit_finance_43_250k

like 45

a9u650

Here's the new Form 1040 for tax year 2018.

[From IRS.gov](https://www.irs.gov/forms-pubs/about-form-1040) > For Tax Year 2018, you will no longer use Form 1040A or Form 1040EZ, but instead will use the redesigned Form 1040. Many people will only need to file Form 1040 and no schedules. This is the "postcard size" form you may have heard of: [Form 1040](https://www.irs.gov/pub/irs-pdf/f1040.pdf), and the [instructions](https://www.irs.gov/pub/irs-pdf/i1040gi.pdf). The return is two half-pages, and the signature section is the bottom of the first page. Form(s) W-2 are now attached on the left margin of page two. > However, if your return is more complicated (for example you claim certain deductions or credits, or owe additional taxes) you will need to complete one or more of the new Form 1040 Schedules. Below is a general guide to what Schedule(s) you will need to file, based on your circumstances. See the instructions for the Schedules for more information. [Schedule 1: ](https://www.irs.gov/pub/irs-pdf/f1040s1.pdf) > If you have additional income, such as capital gains, unemployment compensation, prize or award money, gambling winnings. > If you Have certain deductions to claim, such as student loan interest deduction, self-employment tax, educator expenses. [Schedule 2:](https://www.irs.gov/pub/irs-pdf/f1040s2.pdf) > If you owe AMT or need to make an excess advance premium tax credit repayment (calculated on Form 8962). [Schedule 3:](https://www.irs.gov/pub/irs-pdf/f1040s3.pdf) > If you can claim a nonrefundable credit other than the child tax credit or the credit for other dependents, such as the foreign tax credit, education credits, general business credit. [Schedule 4:](https://www.irs.gov/pub/irs-pdf/f1040s4.pdf) > If you owe other taxes, such as self-employment tax, household employment taxes, additional tax on IRAs or other qualified retirement plans and tax-favored accounts. [Schedule 5:](https://www.irs.gov/pub/irs-pdf/f1040s5.pdf) > If you can claim a refundable credit other than the earned income credit, American opportunity credit, or additional child tax credit. If you have other payments, such as an amount paid with a request for an extension to file or excess social security tax withheld. [Schedule 6:](https://www.irs.gov/pub/irs-pdf/f1040s6.pdf) > If you have a foreign address, or a third party designee other than your paid preparer. Here's an example: A couple files a married filing joint return with no children, where one spouse works for wages and the other spouse is self employed. They claim the standard deduction, and the self employed spouse made estimated tax payments, because it's a pay-as-you-earn system. This couple will file the Form 1040, Schedule 1 (for the self employment income and the self employment tax deduction), Schedule 4 (for the self employment tax), and Schedule 5 (to claim the estimated tax payments). These new Schedules are **in addition to** the Schedules C and SE the spouse would need to compute the business profit and self employment tax. If the Taxpayer want's their mom to be able to contact IRS on their behalf, they could list mom as the third party designee, and add Schedule 6. If they are filing this return by mail, they must remember to sign the return on page one and attach the W-2 on page 2 of the 1040. Then they attach Schedules 1, 4, 5, and 6, and then Schedules C and SE. Each IRS supporting form or schedule has a sequence number in the upper-right corner. These are supposed to be attached in the appropriate sequence number order. > Individuals who filed their federal tax return electronically last year may not notice any changes, as the tax return preparation software will automatically use their answers to the tax questions to complete the Form 1040 and any needed schedules. If you are electronically filing your return, these mechanical changes should be invisible to you. Carefully review the finished product and, as always, when you are done preparing and filing your return, make digital and physical copies for your records. Tl;Dr: Here's the new and improved tax return, and new schedules, for 2018. Forms 1040A and 1040EZ won't be used this filing season. I just want to say good luck. We're all counting on you.

personalfinance

As a self-employed individual who is also a tax preparer... fuck this on both fronts. C + SE was hard enough to explain to fellow freelancers, now they've gone and made it even worse. It's like they don't even want the tax revenue. New and improved my aching ass.

anfh3h

British Gas refusing to remove arrear on credit history...

Hi All, So a brief overview of my problem here: Me and a friend lived in a property in London for 7 months from 2011-2012. It was our first rented property where we were responsible for bills etc. We did not know the importance of getting photographic proof of meter readings. We paid our bills on time and left the property with a zero balance from British Gas 18 Months later our letting agent at the time submitted a revised meter reading for our time in the property. This meter reading had an absurd night reading. Beginning on 09070 and ending on 21429. Thats 137,000kwh - over 11x our day readings. To explain the delay: When we started getting this bill I had left it to my housemate to sort it out (both our names were on the account, another stupid mistake) and as far as I knew it had been. I am now coming to get a Mortgage and having a level 3 arrear on my history is really damaging my credit history. (Should have sorted it ages ago? I sure should) Frustratingly these things seem to stay on your file for 6 years - thats 3-4months or so after I am planning on applying for a mortgage. I am trying to decide if its worth waiting it out, it would upset me greatly to have to do this as I am *very* excited about buying a house. ​ Anyway. I have discussed this all over the past couple of days with British Gas. They have come back to me today and are essentially washing their hands by claiming this is a dispute between me/us and the letting agents that are screwing us. I can see the logic of this, but I also cannot believe BG are able to just wash their hands of this - they allowed a letting agent to submit revised readings with no photographic proof 18 months after we left the property. How can this possibly be OK or acceptable for them to allow someone to just change our meter reading like this in our absence? ​ Anyway, I have replied to them outlining how culpable I believe them to be. I have also asked how it is possible for a third party to submit meter readings against out account without our consent. (This was so long ago that a part of me is dreading that our letting agent gave the readings to my flat mate and they were submitted without checking they were obviously incorrect - I will accept we are boned if this is the case) ​ Edit - Just an update to anyone who might happen by this thread: Success! - After emailing BG CEO asking for the matter to be referred to an senior complaints management person they called me and agreed with all the points I raised. They are cancelling the debt and informing the credit agency!

UKPersonalFinance

You can call Experian/Equifax etc and tell them to mark it as “in dispute”. Although it doesn’t remove it from your file, it does show potential lenders that you’ve currently disputed the information and to take that into account. It’s also worth mentioning this to your mortgage advisor /lender if you’re doing if directly.

8i3mhu

3 Platforms That Will Probably 10x Within The Next 3 Months

This post is part of a 3 way series. This is part 1. Last time, I [analyzed the markets of the entire Top100](https://www.reddit.com/r/CryptoMarkets/comments/8g6mcy/which_are_your_top_5_coins_out_of_the_top100_an/). Over the last weeks, I looked at all coins within the top 200 and I found 3 platforms that I estimate to make the biggest returns within the next 3 months. All 3 have characteristics that no other platform can hold a candle to. 1. Zero fees 2. Instant transactions 3. Near infinite scalability 4. 1 millionth the energy usage of Bitcoin 5. Massive funding 6. Massive development power 7. Massive vision to take the whole market Here are my completely subjective predictions. Use at your own risk and DYOR. I researched and compared at all coins out of the Top200 for the last 2 months and these 3 can simply replace the vast majority of them. # 1. IOTA will make 4x and go from $8B market cap to $30B with the release of Q or more With the incoming launch of Q, IOTA is about to offer what 28 platforms within the Top 100 are offering \(!\) and they are probably looking to replace several more. 1. Smart Contracts: Cardano, Ethereum, Ethereum Classic, Aeternity, Zilliqa, Rchain 2. Oracles: Aeternity, ChainLink 3. Currency Exchange: Bitshares, ZRX, Cryptonex, Achain, Req 4. Outsourced Cloud Computing: DBC, Aelf, Golem 5. Scalable Currency: Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom # 2. Skycoin will make 20x and go from a $180M market cap to $3.6B or more Have you seen the series HBO's Silicon Valley, where Pied Piper is building a decentralized internet that is not run by ISPs, but by IoT devices? This is exactly what Skycoin has developed with Skywire over the last 5 years, making telecom providers like Comcast, ISPs who can control bandwith, cost, net neutrality, filters, access etc. obsolete and completely decentralize them by having everyone offering bandwith from their own devices. There are exactly 3 reasons for the big incoming price increase 1. A few months ago, there was a huge FUD campaign launched against Skycoin suppressing the price, with baseless facts that were disproven quickly. Since then, Skycoin has continued development, ignored rumours, only cared about building their tech and is now about to launch their flagship product Skywire. The FUD campagin is still running, under each Skycoin post, there are always comments how crap and how much of a scam Skycoin is without providing any facts. 2. When a good coin is listed on a major exchange, there is always a big increase in price, sometimes even 5x \(Mithril\) With the launch of the Skywire testnet on 15th May, Skycoin will list on 5 \(!\) large volume exchanges. So far, they are only on Cryptopia. These 5 exchanges will probably include Binance, Huobi, CEX, Bitfinex. This is massive and I don't think has happened before for a coin to be listed on that many large exchanges at the same time. 3. Some of these listings will include having FIAT tradepairs for Skycoin itself. Source: [https://np.reddit.com/r/skycoin/comments/8hgr29/roadmap\_2018/](https://np.reddit.com/r/skycoin/comments/8hgr29/roadmap_2018/). 4. Similar to Elastos, Skycoin scales horizontally and is thus is near infinitely scalable and also very decentralized. 5. Skycoin offers complete Privacy for transactions, which could steal the market of all Privacy coins. I haven't completely verified this point and I cannot guarantee that transactions are completely untraceable, but it looks like they are. Here is some more info [https://www.np.reddit.com/r/skycoin/comments/88qjdm/skycoin\_is\_also\_a\_privacy\_coin/](https://www.np.reddit.com/r/skycoin/comments/88qjdm/skycoin_is_also_a_privacy_coin/) # Elastos will make a 10x and go from $300M market cap to $3B. Elastos started out as a mobile operating system 18 years ago and has now moved towards a smart contracts platform, operating system and a runtime environment for Dapps. Here are 2 very strong reasons why Elastos will most probably experience a big price hike within the next 30 days. Elastos has outstanding fundamentals and will be listed on 7 exchanges within the next 30 days [https://www.reddit.com/r/Elastos/comments/8h2oaa/lets\_talk\_about\_exchanges/](https://www.reddit.com/r/Elastos/comments/8h2oaa/lets_talk_about_exchanges/). Not all of them are probably among the top 10, but there are probably 2 or 3 of the biggest exchanges in the group. 1. Thanks to side\-chains they are near infinitely scalable and is thus also very decentralized. They are probably the most decentralized cryptocurrency that currently exist next to Skycoin. Correct me if I'm wrong. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ To sum it up, all coins also have the vision, the funding and the development power to replace the vast majority of cryptocurrencies within the Top100 in the near future, just like IOTA started to do with the launch of Q. The market has started consolidating. Keep in mind that this isn't unusual behaviour, it is the natural behaviour for new markets, especially in tech. At the beginning, there are 1,000s of competitors and after a few years, there are only 5\-10 left with the rest having died out.

CryptoMarkets

You know what else has zero fees, instant transactions and near infinite scalability ? just about every database, replicated or not. You may think that is what the "d" in dApp stands for, but its not. What newbies still dont seem to grasp is the one and only thing that made bitcoin so revolutionary upon its launch, is the fact no one can control it; no one can manipulate transactions or the rules that govern the transactions. Aka decentralisation (which is not about how many nodes there are or how spread out ownership is, or how many miners there are. its about control). I dont know elastos, but I know the other two well enough to state unequivocal they are not decentralised - at all.

p9vtjs

Best crypto to buy at this point.

I have some cardano which already reached ath and I am not sure how much it will continue to rise. Which is another good option to invest now and hold for long?? Long as in 5-10 years. I have around 1300 dollars to invest.

CryptoMarkets

Smartlands (SLT) available on the Stellar DEX (Lobstr app) and Whitebit exchange. Asset tokenisation that hits the golden rules: direct legal ownership; retail investor access; multiple asset classes; fully regulatory compliant and with company revenue sharing through staking. There’s almost nothing else out there that hits all those points and it’s all coming online in Q4 2021. Current market cap under $40mil and 7.2mil max supply. Survived a whole bear market and now gearing up for amazing things. Don’t miss out -> https://slt.finance and https://Smartlands.io

7y691t

Best exchange for europeans? (With many coins listed and low fees.)

Hi :) Actually I have an account on gdax and on bittrex, i feel good with gdax (and their no-fee network transactions) but I don't really like bittrex with its high fees. I use gdax for buying bitcoins or ethereum with euro to transfer to bittrex to buy other coins. Anyone could suggest me any exchange with many coins listed and low fees that accepts European customers?? If anyone could give me a better alternative to gdax too I would be glad 🤙

CryptoMarkets

I'm based in Germany and have been using Binance and GDAX for months now without any issues, but I am also looking for an exchange with more trading pairs. Kraken seem to be doing great since their upgrade and they offer a variety of EUR trading pairs (BTC, ETH, ETC, LTC, XLM, XRM, XRP, ZEC, DASH and REP.) The verification for Tier 3 which allows you to deposit and withdraw Euros took only three days for me. For now I will stick to Binance because I am day trading in order to stack up my Ether, but at some point I will move my money to Kraken and start trading with Euros there.

a0843o

Update on Worbli portal launch

After the launch of worbli blockchain they plannned to launch there portal to ensure users could register account. Worbli place the security of users assets above every other thing and with some other additions made like adding other features and functions to the worbli code, they had to revisit the previous security audits to ensure they were still valid. With that in mind Worbli partnered with a penetration testing firm who will seek out and rectify every possible vulnerability before the launch of the portal. Worbli portal launch commenced on 21st November, 2018 time: 11pm GMT www.worbli.io

CryptoMarkets

Worbli portal is live. Sharedrop recipients that created their WORBLI account between 21st-30th November 2018 and has passed the KYC verification will receive a 10% bonus on their sharedrop, up to a maximum of 10,000 WBI per user.

7hug7m

Is Binance reputable? Is Binance the best mobile app for trading cryptocurrencies? Is there a better app for this?

Is Binance reputable? Is Binance the best mobile app for trading cryptocurrencies? Is there a better app for this? I know about Coinbase. I am talking about this for trading cryptocurrencies like Monero, Steem, Vertcoin, and so forth. Thanks! 😎

CryptoMarkets

Yes, I think binance is the best one I’ve used so far .. (I've been trading for just few months now) but not all currencies are listed yet. They are adding some everyday. Also, an advice, buy BNB(Binance coin) when you start trading on binance cause they give you 50% off on the transaction fees when you pay transaction fees through BNB. It can add up and save you a lot. Also BNB coin itself has gone up like crazy in the last few days. I didn't know this when I first joined! Anyways, the only downside is not all the currencies are listed. For the example, vertcoin is not listed. Also, you my referral if you are planning to join binance. :) www.binance.com/?ref=10923162

6cfcjv

May 22nd Ethereum Consensus Blockchain Conference

May 22nd kicks off the Consensus Blockchain Conference. This conference goes for two days and features workshops that educate attendees on the benefits of blockchain technology. Here is the guest list: ABN AMRO Ad Meliora Accenture Allen & Overy A.T. Kearney Berger Singerman LLP B2C2 BNY Mellon Bloomberg Broadridge Financial Solutions BroadRiver Capital One Citigroup CME Group Cognizant Cooley LLP Covington & Burling LLP Crowell & Moring LLP Davis Polk & Wardwell LLP Deloitte DTCC Equifax EY Fundserv Friedman LLP Goodwin LLP Guardian Life Insurance Hitachi Solutions Hogan Lovells US LLP Holland & Knight LLP IBM Infosys LG Electronics Medici Ventures Microsoft Nasdaq New York Life Penn Mutual Life Insurance Perkins Coie LLP PwC Procter & Gamble Prudential Retirement Rakuten S&P Global SAP Scotiabank Siemens Shanghai Clearing House Silvergate Bank Standard Chartered Bank State Farm Sullivan & Cromwell LLP Swirlds Swiss Re Synechron Thomson Reuters USAA Vanguard Western Union And more... With all of these companies coming to see Ethereum, a big surge is expected. Keep your eyes open.

CryptoMarkets

Just to be clear, the use of "Ethereum" in this thread's title is misleading. This is not an ethereum conference. It is a blockchain conference put on by coindesk .com. It's a very big event and there will be a lot of industry heavyweights, but it is not focused solely on Ethereum. It is focused on everything in the blockchain realm, so the price of Bitcoin or Litecoin is just as likely to rise as a result of this conference as any other coin. In fact, since ethereum got much of its current spike from a conference that already happened, people are looking toward other coins having potential after this one.

79o91w

Do you invest other people's money? How do you manage it?

I'm working on a project to make it easy to connect retail traders and investors, to help both traders trying to raise a little capital and collect their fee and investors who don't know where to start when it comes to crypto. If you manage or thought about managing money for other people (including family and friends), I would love to hear your experience with it, or what prevents you from doing it.

CryptoMarkets

I invest money for about 9 people. Friends/Colleagues/Family. Since I have a vested interest in getting them interested in the currency, it is not as high-risk-high-return as my investments (lest I end up losing some of their money!) In short - it's hard to manage it. I have to work on each of their accounts individually, and remembering the passwords, re-balancing all portfolios, etc, prove quite tedious at times.

p9vtjs

Best crypto to buy at this point.

I have some cardano which already reached ath and I am not sure how much it will continue to rise. Which is another good option to invest now and hold for long?? Long as in 5-10 years. I have around 1300 dollars to invest.

CryptoMarkets

For me I think I will invest in ETH, more ADA and SYLO. Sylo has some good usecase amongst which is their smart wallet that is a fusion of a wallet and a secured messenger. Since data security and communication privacy is their forte, I only use their messenger to be on a safe side

r7hhmh

What to do when MOASS starts and you have 100% of your shares DRSed, like myself? Well, I still would like to sell at least one share to get a life changing money.. but have we really outlined all options regd. how to do it?

\#**1. Sell via a limit order with ComputerShare (online)** **-** the most logical option. Unfortunately, it's connected with the bloody limit order cap of $214,748.36 per share (thanks [whoopsidaiZOMBIEZ](https://www.reddit.com/user/whoopsidaiZOMBIEZ/) !) which CS are obviously not eyeing to increase anytime soon. Instead, they are increasing the max. aggregate value per transaction, which does not really help the case, I am afraid. This is a far cry from the "life changing money even for the X and XX apes" principle which gets so widely trumpeted here. ~~#~~**~~2. Sell via a limit order with ComputerShare in written form~~** **-** I believe I have heard this option mentioned somewhere, meaning that CS would allow for a limit sell order at higher value but they require to have the request in a written form. Does that mean using snail mail to send over to Kentucky? Or a simple email would be sufficient? Especially for non-US apes who wait 7-8 weeks for a DRS advice letter it's a rather questionable option. \#**3. Sell via a market order with ComputerShare -** this option was mentioned by Paul Conn in the AMA Round II. Unfortunately I am entirely unable to predict the amount of possible fuckery related to this type of sale. In the end one might end up with selling the share at <1% of its current market value just because there is some fast algorhitm who detects the sell order and quickly adapts the bids for one microsecond accordingly? \#**4.** **~~Sell via fractionals with Computershare~~** **-** I'm not even sure if that works and/or has any impact on the max. share price limit of <250k. Can I sell say 0.0348 share for that much, thus circumventing the limit sell limit and actually selling it via multiple orders for 69 million? Can any apes shed more light on this instead of just resorting to speculations?**Refuted.. limit sell order of fractionals is not possible..** \#**5. Sending the shares to be sold back to your broker and proceed with a limit sell order from there -** again, this was mentioned in the AMA Round II. Nevertheless, what we are missing here are some exactly defined procedures so that apes can resort to them in the time of anxiety and panic of the MOASS. I wonder how long a transfer like this would take (depending on the broker and country) and whether this does not expose an ape to some shitty broker tactics preventing the sale, in the end. \#**6. Keeping the share with ComputerShare but initiating the limit sell order via your broker -** something like that was shortly outlined in the AMA Round II, but without any specifics regd. how can this be done, which brokers can participate in such scheme and how long does it take. \#**7. Keeping some shares with brokers and only use ComputerShare for neverending swimmingpool -** well, this was actually a very sought after option before all the fuckery with Fidelity occured. There are, however, some serious drawbacks connected with it.. account for the fact that this slows down the process of locking up the whole float with DRS considerably. Plus it exposes you to all kinds of trickery - broker turning off the buttons, or even defaulting on your sale. I personally am not a huge fan of this option. \#**8. Some other option I might have missed?** I am an Euroape who has DRSed 100% of his shares, it was my individual decision with the best interest of my favorite stock in mind. Nevertheless, I feel like you fuckers have spent a ton of time explaining how to DRS but very little time to how to un-DRS if the time comes. I'd also love to see some of these questions addressed with some future AMA with ComputerShare, preferrably the Round III. [u/jsmar18](https://www.reddit.com/u/jsmar18/) No FUD spreading, no shilling, this needs to be addressed. Thanks in advance for your comments.

Superstonk

Ok so i learned a few things today - max limit value per share is $214,748.36. also, you can NOT sell fractional shares via limit order, per the rep on the phone today. She did say specifically that if the price reached 60 million (i picked that value) i could submit a market order and recieve market value for the share AT THE TIME OF THE SALE. So, if we are mid moass and market value is showing say 60 million and they submit their batch sale order at that price, can that be manipulated down as we fear? She tried reassuring me that i would recieve the literal market value. Does anyone know - can they really alter market orders in such a way as to sell for a value the market is not showing?

ll2uhz

DD - $PULM

Alright everyone listen up - here to offer some consolidated information for your potential gambling habits. ​ $PULM - Pulmatrix, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing inhaled therapies to address serious respiratory disease. The Company designs and develops inhaled therapeutic products based on its dry powder delivery technology, iSPERSE (inhaled Small Particles Easily Respirable and Emitted), which enables the delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications. The iSPERSE powders are engineered to be small, dense particles with dispersibility and delivery to airways. iSPERSE powders can be used with an array of dry powder inhaler technologies and can be formulated with a broad range of drug substances including small molecules and biologics. Now thats the brief here is the fun part: ~~They have P3 trials with the FDA less than a month away.~~ **(This source cannot be confirmed.)** Today they will close a DO worth 40M with 'stute' investors (they purposefully targetted bio-pharm investment companies for this DO) this gives them 70M total on hand. Not many mid-stage bio-pharm companies are sporting this much cash on hand afaik. They have a product that they are about to bring to FDA conclusive trials - and managed to convince big companies to spend 40M on them. I would imagine they have something available for the trials we don't get to hear about. The PT is set to $10.00 based on 1-analyst. They have a decent volume and are coming off a %25 dip (discount?) That concludes my crap DD - I would suggest doing your own bit of research and at least giving this ticker a glance. NOTE: This is my first real start of a DD - please let me know what type of information you would like to see in posts like these, I know it doesn't hold a candle to some of the efforts that are made on this subreddit. NOTE2: I am not a financial advisor - this is not financial advice. Do your own research come to your own conclusions. ​ EDIT: POS @ 1.99

pennystocks

I bought this stock a few days ago as well. I saw Jim Simons' Renaissance Technologies LLC (one of the most secretive/successful hedge funds) has one of the biggest institutional stakes in the company. I believe this company has a lot of promise Also, their recent dip was due to a share offering I believe, so I saw it as a great entry point

9bq3a6

How do you go on a stock shopping spree in a recession when FIRE folks keep no cash?

*On the cash reference in the title, really meant to say that the FIRE community tends to keep a lower proportion of cash in relation to their overall assets/portfolio.* I’m assuming many people shooting for FIRE are maintaining something like 75% stocks and 25% bonds with perhaps some real estate thrown in. The general consensus also seems to be that holding a large amount of cash or having a large emergency fund is bad/unnecessary due to inflation. So, when FIRE folks say a market crash is the best thing since you get stock at bargain prices, with what funds are people buying this with? Just small savings? Selling bonds? Buying small amounts with each paycheck? I’m guessing it’s these reasons as there might not be a magical way to pull out a lump of cash to go shop, unless you’ve been keeping cash. Curious what everyone’s input is.

financialindependence

Well, let's see: 1) Keep your job and keep buying hard 2) Get a side hustle going. Hard times often mean opportunities for the creative. 3) Rebalance. If you're not living on the funds and you didn't go 100% stock you could shift in at a low point 4) It seems like (against conventional wisdom) many people do actually keep much larger cash reserves than an e-fund on hand here.

7vpbx6

Senator Warner Calls Blockchain Transformational and Possibly Worth More than 20 Trillion by 2020.

"I think we may be on top of something transformational. And I don’t think we can separate the underlying distributed ledger blockchain from some of these crypto assets. If we had the same rate of increase with the next two years like we’ve had the last few years- we’re talking now about a couple hundred billion, we’d be at north of 20 trillion dollars caught up in this area by 2020." - Senator Warner from VA Roughly 1:30 - https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39

CryptoCurrency

This could potentially mean about an average of 100x times whatever your investment is now in 2 years (bear with me I'm using stupid math here: MC 300bln x 100 = 30tln). Again, it's stupid math and an over generalization on my part, but: to the FUCKING moon, boys.

9gevrn

Why has the fast food industry avoided automated food preparation by robots?

I've read that single fast food locations, here and there, have been using robots to prepare food ([a recent example](https://www.wsj.com/articles/a-burger-joint-where-robots-make-your-food-1529599213)). However, it's puzzling to me how this has not reached scale decades ago already. For an initial high quality robot, the set up costs might be relatively high (design, materials etc.), but if you consider how much money is spent on human food preparers, the breakeven point should be reached relatively soon - even considering the ironing out of initial defects and quality considerations. The large chains, especially, should be incentivized to do so, given their economies of scale. I'm trying to play devil's advocate, but I can't come up with any reason why most of the fast food preparation today isn't automated. Maybe you need high skill labor to fix the machines, but a large chain could iron out the most common issues very quickly and then have a regional repairperson on call when "rare events" occur.

investing

Because the cost to acquire and maintain that type of technology is likely far more expensive than minimum wage employees. What is the labor skill cost to flip a burger VS keeping someone who knows IT to program the robot if it errors? This does not include the costs of remodeling. Nor lost sales when it faulters. There are also liability issues to consider.

ypndkf

ELI5: Vanguard Total Bond Fund (BND)

I always assumed as I approached retirement I would allocate a certain percentage to BND, but now that I am looking at this fund, it has a YTD return of -15%. Doesn't that kind of suck? I thought bonds were supposed to mitigate falling equity prices in hard times. I wasn't expecting world beater returns or anything, but -15% is pretty crappy. Would I be better off just building a CD ladder or buying US Treasuries? I don't get the appeal of BND anymore.

financialindependence

Let's say you hold a bond. It cost you $1000, matures in 10 years and has a coupon of 3%. In ten years, you'll get back that $1000 if the entity you're borrowing from doesn't default, and you'll earn payments of $30 per year over the duration. One year later, the same entity offers 9-year bonds paying 6% interest. Your bond is still going to pay you exactly the same amount at exactly the same intervals, but who is going to buy your bond at 3% when they can get it at 6% somewhere else? Thus, your bond drops in value so that it's just as attractive to the buyer. They will still only get $30 per year, but if they buy the bond at a discount to the purchase price of $1000, they can make it up upon redemption. That's why your bond has dropped in value. A fund like BND aggregates all of these individual bonds into a continuously rolling ladder, but also adds bonds of varying durations and credit risks. BND tends to be very safe from default (low credit risk), but the interest rate risk still applies, and is worse the longer the duration of the portfolio. The good thing is that the yield of the portfolio increases as the value decreases. Some of this is from the new bonds that are added to the fund, but even your existing, low-coupon bonds are yielding more; some of that yield comes from the increase in value as they approach maturity (i.e. your $1000 bond that dropped to $750 when interest rates increased will be worth $1000 again right at maturity). Also, $30 per year is 3% of $1000, but 4% of $750. Bonds do provide ballast to a portfolio of riskier investments. However, that doesn't necessarily mean they move opposite to stocks. They have different risk factors and responses to economic stimuli. Broad increases in interest rates do tend to weigh negatively on both bonds and stocks.

nwidg9

[VIC] Real estate agents claiming an extra months pay?

Hi there, TL;DR: I just want to double check if I'm right here. Essentially, after some back and forth, the landlord is claiming we have to pay an extra months rent on the day we vacate, despite the fact the lease says a month in advance. My housemate and I have had a rental reduction since October last year from ~$3000 to $2164.. After some extensions, it has been set to expire on the 16th of June where the landlords proposed $2800. So, we put in our 28 notice to vacate on the 19th of May and set to move out on the 16th of June. We paid our last rent - and assumed rent reduction of $2164 - on the 16th of May. Rent is always meant to be paid in advance as mentioned in the lease. Since then, the agents have been claiming arrears in a few different circumstances: 1. They first claimed we were about $2,000 in arrears, however we overpaid them in February and then got approved for credit in March when the rent reduction was extended. They didn't apply this credit. They were claiming this for about 2 weeks. 2. It's only today this has been reduced the arrears to $356 and apologised for the first situation. The agent claims: "This amount is likely due to the fact that we have only received $2,164 for the final month’s rental instalment however it was advised that the final rental reduction was for the rent due 16/05 and that following this the rent would increase to $2,800 due 16/06 as per the trustee’s proposal." I replied back that: "The final month's rental instalment is the rent due on the 16/05. If the rent is increased to $2,800 due 16/06, we wouldn't have to pay that since that is the day we have elected to vacate the property. This would only have been an issue if we stayed on another month and only paid $2164 on the 16/06." 3. She has now replied with the following: "Even with the correct credits applied, the rent is still only paid up until 16/05 and not until 16/06 when you are vacating. I apologise for the confusion created by referring to rental instalments as being the ‘reduced’ or ‘full’ amounts etc. however the correct amount due on 16/06 is $2,800 as stipulated by the Trustee’s." The lease clearly indicates that "Rent is payable monthly in advance and must reach our office on or before the due date." There's no other documentation during the rent reduction to indicate otherwise. Am I misinterpreting this? If we pay on the 16th of May, that means we're paid up until the 16th of June, right? It almost feels like they're trying to scare us into making up for the expenses lost in the rent reduction. I'm slightly stressed at the moment, so I'm just hoping to see if my understanding of rent in advance is correct. Thanks.

AusFinance

"In advance" means that you pay at the start of the period - so the rent paid 16/05 should cover you until 16/06. If you're then moving out, it's not clear why they think you have to pay for another month. It kind of sounds like the overpayment in Feb has resulted in some kind of confusion as to whether you're paying in advance or in arrears. My experience with property managers is that they don't always keep great rental receipt records (I've worked with some great managers who are always on top of things, and others who... Just aren't. I had a months-long argument with one property manager who thought "quarterly in advance" meant that payments would be made monthly, three months in advance of when they were due). It'll help your cause if you can produce a list of payments made on what dates, but hopefully it will be sufficient just to draw their attention - again - to the condition which agrees payment will be made monthly in advance and the fact that the payment due 16/05 for the period 16/05-16/06 has been made.

tx4n0x

ELI5 the true benefit of franking credits

So I completely understand what franking credits are and how they work. My question is based around the politics of franking credits and how it seems like a non-event. If we removed franking credits, wouldn't companies simply pay their dividend pre-tax and it would have exactly same same impact on the share holder. The example is: I own shares in a company that makes $1m in profit, pre-tax. My share is 1% of the total company so my dividend is $10k. They pay 30% tax so they distribute me $7k fully franked. I'm a self funded retiree with no other income so I get a tax refund of $3k even though I never paid any tax personally. If they abolish franking credits, can't the company simply distribute the $10k dividend pre-tax and without any franking credits and the impact would be exactly the same as I wouldn't pay any tax on that income and I'd still have $10k at the end of the year. ​ I've asked multiple financial advisors about this and I've never had any be able to answer it. It might be really simple but I can't seem to find any logic on why if franking credits were abolished, it would have any nett impact if companies simply distributed dividends pre-tax.

AusFinance

During the tax review that established the franking system the designers were aiming for all tax to be assessed and paid at the level of the individual. That is everyone's tax obligations would be according to the income tax scales (previously profits of companies were taxed by the company tax and then taxed again when the dividends were paid to individuals). Now, imagine a world where there was no foreign investment in Australia. That is only Australian tax residents could invest in companies (buy shares) and only companies owned by Australians could operate within Australia. In this scenario would you even need a corporate tax? No, all of the money that is profit would be paid to the shareholders and they would be taxed at their personal income levels. (ok this wouldn't capture the cash retained by the business to save for future expenditures, but let's pretend for the moment that the business is perfect in either reinvesting profits or distributing them). So, now we need to develop a system where we cam allow foreign investment / ownership. How it was proposed is that all profits would be taxed at the corporate tax rates, and so that Australian investors would not be disadvantaged by being taxed twice as before, they would be given a tax credit to apply against their income tax. This way the profit obtained by foreign ownership is taxed in Australia (it doesn't go offshore untaxed) without unfairly disadvantaging Australian tax payers. Now let's go on to franking refunds. We have already established that the goal of the system is to have all tax paid at the individual level. Let's say you earn $0 of income apart from a gross $10000 in dividends. The company pays 30% tax on this (I know the tax rate is different now, just go with it for the example because the maths is easier) so you have paid 3000 in tax and receive 7000 into your account. Hang on now, the goal of the system is for tax to be paid at the individual level (which for this would be $0) however you have paid 30% tax! This is not how the system was meant to work and so the 3000 is refunded to you at tax time. This is absolutely the most fair system. Otherwise dividends are worth more to people on higher incomes than they are to people on lower incomes. Why people are upset with franking credit refunds is because the money earned in the pension phase of super is tax free. Therefore people can get back all the company tax paid on their income of 1.9 million in assets in their super. Tldr : people getting outraged by franking credits should actually be trying to get income from pension phase of super taxed. It isn't franking credit refunds that are the problem, but how they interact with the super system.

w565kt

TIL: There's a loophole in NSW where embedded network energy providers can get around energy consumer protection regulations for hot water.

Utilities such as water, electricity and gas are all regulated in NSW. New apartments commonly have their utilities provided by a third party embedded network provider and are unable to pick their own utility providers. The embedded network providers effectively have a monopoly over the entire apartment buildings utilities but luckily there's consumer protection regulations which caps the maximum an embedded network can charge their customers. However, it seems that hot water isn't regulated. "A hot water embedded network relies on two central inputs: energy and water. When the operator of a hot water embedded network on-sells energy and water as hot water, the existing regulations designed to protect energy and water customers no longer apply" Thus they're able to overcharge customers on energy and water usage https://www.ewon.com.au/page/publications-and-submissions/reports/spotlight-on/hot-water-embedded-networks This is utter bullshit and I'm lucky that I'm only renting my current place. I'd be so angry if I was an owner in this building

AusFinance

I mean... It's not a loophole, it's just a nation-wide lack of regulated pricing. I've been stuck with origin hot water in QLD before, the price was shockingly not that bad - gas retail price plus standard council water price was very close to the charged rate.. but then there was a daily service charge of a few cents..

vu3m67

Frollo as an alternative to Pocketbook or Moneybrilliant?

Hi there, with Pocketbook shutting down and Moneybrilliant closed for new users, there's been a lot of talk about alternatives. One alternative that was mentioned on this subreddit is Frollo. I work at Frollo, and noticed there were a few questions on various posts. I figured I'd open this post and see if anyone has any questions they'd like me to answer. I'll try to check on this subreddit as much as I can, so feel free to post any questions below. **In short, what we do is:** * Link your bank accounts with Open Banking (approx 80 providers) and screen scraping (400) * Categorise your transactions, detect bills * Send you insights (insufficient funds to cover upcoming bills, your grocery spend is up by 20% this month etc.) * Budgeting by category and setting financial goals (to link to a bank account) **We don't currently:** * Have an export functionality * Have custom categories (although we do have #tags) **What's the difference between Open Banking and screen scraping?** * With Open Banking you don't have to share your account credentials with anyone * With Open Banking, transactions are updated in a few seconds, multiple times per day * In both cases (with Frollo at least) your privacy is protected and your data will only be used to help you use the app. We don't share your data with anyone, and when you tell us to delete your account we delete all of your data. **Note**: *Not all banks support joint accounts in Open Banking yet. They will by the end of this year. For those banks that don't support joint accounts yet, you can still use screen scraping. So, if you try to link an account but can't find it, because it's a joint account, your bank probably doesn't support it yet. Unfortunately, there's no way for us to tell if they do.* **With all these budgeting apps shutting down, will Frollo be around in a few years?** \- We're a purpose-driven fintech. Our app is free and we don't monetise it. We don't sell data or make money from referrals \- The way we make money is by selling our technology (the same as we put into the app) to other businesses, like banks and fintechs. So they can offer these features to their customers too \- We really only have the budgeting app because we want to help people improve their finances, and we use it to show off our capabilities and impact to potential clients \- This other part of the business is going really well, and our app is having real impact (users increase their savings and reduce debt when they use our app), so we're excited about the future and have a long list of features on our product roadmap :-) Let me know if you have any other questions :-) ​ Update: We've created a high-level comparison between Frollo & Pocketbook, to show what to expect if you make the switch - [https://frollo.com.au/blog/with-pocketbook-closing-is-frollo-a-good-alternative-for-you/](https://frollo.com.au/blog/with-pocketbook-closing-is-frollo-a-good-alternative-for-you/)

AusFinance

>We don't currently: > >* Have an export functionality >* Have custom categories (although we do have #tags) Any word on if these are coming, and when? Appreciate the post and background info, personally I probably wouldn't realistically consider switching until they are available.

6rnfjf

BEWARE of BlockChain.Info I Just LOST 5 BTC due to a bug! [VIDEO proof]

UPDATE: thanks to everyone! We got it BACK!!! Careful with blockchain.info. I used them for the first time just before the fork. When I went to return my coin to coinbase, the laptop scanning tool on Blockchain.info failed and lost me 5 BTC! It was NOT user error. I was able to figure it out and recreate the bug last night. here is a video of me recreating the problem after I figured out what was happening: https://youtu.be/MFj3HcLuWSs I let Blockchain.info know about this critical bug last night and they simply responded that it was MY FAULT! How can buggy scanning software be blamed on the user? I scan because I don't trust my ability to get the entire hash perfect! Scanners are supposed to be perfect. Here is the conversation I had with blockchain.info: URGENT your wallet scanner is broken and just cost me 5 BTC Avatar Today at 00:42 I lost 5 BTC today on your system due to a really tricky bug. I tried to send 5BTC to coinbase. I did the normal thing. I pulled up a QR code, scanned it (this way I can't get it wrong, or so I thought) and then clicked send. 5 hours later it had confirmed that it had sent, but it never arrived. I was baffled. So I started trying to recreate any potential problem. Here is what I found: I am on a new macbook pro 13 inch with 10.12.06 and I am using Chrome. I scanned a wallet on my coinbase app from my phone using the macbook camera feature you have built into the app. I have scanned QR codes hundreds of times over the years on different apps and I have never had a problem. But on your app it is broken and lost 5 BTC. To recreate the problem I first copied the hash from coinbase so I had a reference. Then I scanned the same code by QR on my macbook. They ended up COMPLETELY DIFFERENT. I believe what is happening is that the camera is mirroring the image your system is getting a mirrored version of the wallet [UPDATE - that was just a guess that has been proven wrong, I still can't figure out what the heck happened]. Today I lost 5BTC plus the cost of the transaction due to this bug. This bug can be recreated over and over and over again. I hope that where I found this bug, and it wasn't user error, that you will make up for the 5 BTC I lost. It is a significant portion of my wife and my own savings. We have been putting away a small portion of our income in BTC for the past couple of years and a huge chunk just vanished simply because of a bug in your system. First I hope you can fix it quickly so someone doesn't loose MUCH MUCH MORE. Then, I hope you can make it right as your system is completely based on trust. If you can show me the bug is fixed and you can make it right financially for my losses, I would be happy to just keep the bug between us as we are the only ones affected at this point. Here is a video I just made of me recreating the problem: https://youtu.be/MFj3HcLuWSs BTW this was my first experience on your system (I moved my BTC here because of the fork). I was very pleased with how it all worked, but then shocked to find such a terrible bug. Sincerely Jeffrey Today at 00:48 If you can compensate me for the 5.00022374 BTC I lost, here is a coinbase address you can send it to: 1NqGsghoWMiGezrNyv7Abjoqmf4ftx7an4 HERE IS THEIR RESPONSE. Avatar Mandrik Today at 11:14 Hello, I'm sorry to hear of this trouble, but the bitcoin network is designed to make chargebacks impossible. Blockchain.info never has access or control of a user's bitcoins in any way. The end user has 100% control over his or her own bitcoins. This means we have no power to stop, reverse or initiate a transaction on anyone's behalf. NO THANKS FOR FINDING THE BUG. OR EVEN ACKNOWLEDGING THE BUG. IT IS ALL MY FAULT... I assume I won't be getting back my 5 BTC, but I figured the world needs to know about my experience with the world's number 1 bitcoin wallet. Here is the wallet that I lost my BTC to: 16H5t2a9vgTS2vRgu3nvmRneQymwV6XjFq Any ideas on a way to get blockchain.info to own up to their bug?

Bitcoin

At first, I was highly skeptical of the claims made in this post. I thought this was likely the result of either malware or user error. But upon taking a closer look, neither is the case. I was able to replicate the problem exactly as OP did. Using a screenshot from OP's video, I was able to make Blockchain.info's QR code scanner produce the exact same address which is shown in the video (1CpwMvHBu4hRWw1qQ9h2QEincQhhH8xfMa). It is true that for at least a week, Coinbase's mobile app was generating malformed QR codes with a missing colon. (I noticed this bug myself on Thursday, July 27.) So, I tried correcting the malformed QR code from Coinbase by adding the missing colon, and this resulted in Blockchain.info scanning and displaying the address correctly. Therefore, I can say with certainty that this problem was not the result of malware. It is almost certainly due to a bug on Blockchain.info whereby malformed QR codes are not being properly error checked. Developers *must* assume that literally any data can be input into a QR code scanner. If it is not 100% correct, it should be disregarded. The scan should either fail, or an error message should be displayed to the user informing them that the image contains invalid data. I can't investigate any further at the moment, but I will try to dig in deeper if I have time. This occurrence was the result of two interacting bugs, one of which was the fault of Coinbase and the other the fault of Blockchain.info. However, since input error checking is a crucial and indispensable component of software engineering, and malformed QR codes could be produced by innumerable sources, it is my professional opinion that Blockchain.info bears full responsibility for this occurrence and should fully compensate OP for his losses. However, it's also my professional opinion that Coinbase should be responsible for displaying the textual bitcoin address any time that its corresponding QR code is displayed. Failing to do so is borderline negligence, because it makes it unnecessarily difficult for users to verify addresses when sending bitcoin transactions without copying and pasting, as OP did in the video. **Edit**: I was able to verify what happened. The malformed QR code, no longer conforming to BIP 21 spec, nonetheless was recognized as a Base58-encoded private key by the Blockchain.info wallet. So the string of text "bitcoin*1aDdr3sS...*" was itself interpreted as a private key and used to derive the associated address, which is where OP's funds were sent. I waited to divulge this information until I could return to this thread and verify that the addresses OP posted in this thread were not the ones where he tried to send funds. If one of them had been a match, anyone could have stolen the misdirected bitcoins. OP will be able to recover his funds using the list of addresses which are associated with his Coinbase account. One of them will be a match. It remains my opinion that Blockchain.info bears responsibility here, because it makes no sense to allow users to send to a bitcoin address derived from unchecked private key data. WIF and mini private keys are acceptable, since they have error-checking mechanisms built in. I opened an issue on github [here](https://github.com/blockchain/My-Wallet-V3-Frontend/issues/1241). **Edit #2**: Thanks to /u/gabridome for the gold! I received a response from Blockchain.info via github: "Thanks for your research. We have been following the Reddit thread and came to the same conclusion. We are preparing a PR to refactor and fix this issue."

1zzzq0

Ponzicoin operator steals money; investors get upset

This is pure comedy gold. Operator of a bitcoin ponzi website has decided to pull a runner without paying people out: http://ponzicoin.co/ Reactions: https://bitcointalk.org/index.php?topic=474730.1240 I usually don't laugh at other people's misfortune but it's kind of hard not to laugh when someone knowingly invests in a ponzi scheme, loses money and then gets upset.

Bitcoin

Wait, it was actually called ponzicoin? And they are upset? I need to start taking money from stupid people. It seems like a much easier way to make a living. How does one lose a moral compass? Can you leave it on an airplane or bus?

np8h5r

With new E-toro GME holder percentages looking like 89 million investors worldwide holding GME. How can it be possible for $20,000,000 per share to be paid out? This is not FUD, I am not a shill, I have been holding since February and will continue to hold through the peak.🚀🦍

I have a question that I hope apes can further clarify or link me to some DD that explains better. So with E-toro voting percentages it looks like they are saying 89MM people around the world hold GME. That is an absolute insane number and if it is true and amount of shares held is upwards of 500 million to a billion shares circulating.... At 10,000,000 shares at $10,000,000 a share that equals $100 Trillion, No? Never even looked at a number that big but I think that is what my calculator shows? There is no way that the FED will print out hundreds of trillions of dollars to pay Apes out for hundreds of millions of shares at $10,000,000 per share. So hedgefunds default and get liquidated, that would still not be even close to cover shares at $10,000,000 per share. Obviously not all shares would be sold at the top but whatever amount would be sold at the top, if the majority of superstonk holds as long as we can upwards of millions of dollars, that would still be an insane amount of money. Doesn’t seem likely the FED printing hundreds of trillions of dollars, that would increase the U.S. debt correct? So hedgefunds get liquidated, it passed then onto the DTCC. Don’t new regulations prevent DTCC from being brought down by the domino effect this will cause? Can somebody explain to a smooth brain/ many smooth brains how this process will work and show me how $20,00,000 a share is likely to be paid out? Do not downvote me for FUD or call me a shill. This is a question many are wondering and curious about. Btw I have been holding since February and have recruited multiple ape friends/family members. Just hoping to get some clarification, I know there has been DD posted explaining the chain it will go through for us to get our much deserved tendies. Also think it is funny how the post gets downvoted when it is just an ape trying to get a better understanding. That is what this subreddit prides ourself on is helping other apes to understand/learn while being supportive. Edit 1: Here is the E-toro post https://www.reddit.com/r/Superstonk/comments/np4wwu/etoro_got_their_15_of_all_gme_holder_straight/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Edit 2: Here is a DD post helping to explain how the money will be paid out https://www.reddit.com/r/Superstonk/comments/mngzp0/chasing_70_trillion_waterfalls/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Edit 3: Another post about how the money will be paid out https://www.reddit.com/r/GME/comments/m9td6w/estimations_for_the_total_payout_of_gme_based_on/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

Superstonk

Please stop attacking. OP is asking a legitimate question. He’s not looking for some bs answers by smooth brains to start an argument. This question has an answer. Someone post the DD of chain of payments if it’s there. Numbers don’t mean anything. But who would be next in line to foot the bill if DTCC uses all of its funds?

owr9lh

Paid off my first-semester bill in full & avoided student loans!

I've been working three part-time jobs since late last year, and I just paid off in full my (9k) bill for the first semester of university (avoided student loans)! I know it's not much compared to what others have to pay.. I was so fortunate enough to get a great scholarship. But still! Even though now I barely have about 1k left in my account, I feel proud that I didn't have to ask my parents for help because I know they're struggling themselves. It feels bittersweet for sure, all my hard-earned money going "away" at the moment, but so grateful knowing that I was able to do that and it's going to pay off in the long run. I have to keep grinding and save up for the spring semester's impending bill.. but it feels good to say it out loud (on reddit bc I have no friends to celebrate this moment with lol :')). To all of us wrestling loans/bills, we got this- this too, shall pass!

povertyfinance

You have to pay 9k for ONE Semester??! That is absolutely insane. Do they spoonfeed you gold during your lectures? And you say that‘s not even that much? Congrats though on making that much money in one semester. It’s truly a superhuman achievement.

t6t3af

I was approved for SNAP benefits

That’s really it. I can only work part time because I’m a full time student and I didn’t think I would qualify for food stamps because I have an emergency savings for when times get really rough. They approved me for up to $250/month. I am shocked but truly so excited to be able to go grocery shopping without stressing as much as I used to and my heart pounding when I get to the checkout stand. I’ll obviously still have to plan accordingly but at least there’s a small weight lifted off my shoulder TLDR: if you’re a student and you don’t think you can get food stamps, apply anyway because you may be pleasantly surprised

povertyfinance

It was a game changer for me when I learned I could make my own homemade food cheaper and buy seeds for a garden with SNAP! I watch doomsday preppers just to know how to save and feed fam long term on a budget!

8j5yke

How Do You Deal With Medical Debt?

I am an older Redditor and I am at that age I am dealing with managing chronic illness, but I am not old enough for Medicare. I have bladder cancer and cardiovascular disease and I have Blue Cross insurance through work. What is upsetting me is the huge out of pocket that I am facing whenever I have to go into the hospital for a procedure. I just got a bill from the hospital for $5800 and now I am receiving bills from doctors that I didn't receive in the past. The hospital I use was just bought out by HCA and I guess they have different billing procedures. One has already been sent to a collection account. Do I try to work a deal with collection company or just send them "X" amount per month and make the best of it. Any incite would be appreciated if anyone has had to deal with this. Thanks in advance.

povertyfinance

I ignore it because there is nothing I could possibly do about it. I block numbers calling about it, and tear up bills. I have to think about what we are going to eat today, and what we are going to wipe our asses with when the toilet paper runs out. I'm worried too much about having enough gas in my 17 year old Honda Civic to get to where I have to go. There is nothing I can do, so I do nothing.

p1vhtm

I don’t want to work till I die. I want to retire at a good age and have time to travel the world and spend time with my loved ones. That is my ultimate goal with crypto / investing.

I am 22 years old. I know that I’m young and have a long life ahead of me but I don’t want to the spend that life just working. Both my parents have been working and they are 60 and 56 years old. They’re not planning to stop soon as they can’t afford to. I know that I have to work hard for me to retire early and **most importantly manage my money well.** I have started investing and also invested in crypto. I like the fact that I can stake it and get 6-12% every year on top of the profits I make. I know people have different goals but this is mine and I’m pretty sure it’s the same for a lot of you. **I hope whatever it is that is your goal you can accomplish it. Good luck!**

ethtrader

**Financial Independence, Retire Early (FIRE).** Great job starting early with it all, when I was your age I didn't know anything about investing! Def work hard while you have the energy/desire, and save that money and invest it. Passive income is the goal! Compound interest and growth, one phenomenal thing you have is time on your side. Best of luck! Cheers

7rxt4q

Help me understand the XRP hodlers

I tried to ask some well meaning questions on r/Ripple, thinking that was best place to discuss pro-Ripple arguments. Ironically, I only had time to receive 5 downvotes before I was banned. Now I need to resort to you guys instead. *Why* would banks ever want to buy XRP tokens held by average joes all over the world? Why don't they start over in their own, closed ecosystem? * "Because it would be too costly for banks to implement things themselves!" Ok... but how costly? So costly that they would rather buy a substantial amount of XRP, currently with a 57 billion USD market cap? 1000 shitcoin makers have already copied and pasted other coins. * "There would be no trust in the system. Banks cheat each other all the time!" Ok... but isn't it this problem that distributed systems are designed to solve? And why would they place more trust in the system if non-banks run consensus servers?

ethtrader

"Because it would be too costly for banks to implement things themselves!" -Not really though. They already have many bank branches with computers, and internet connections. It's trivial to go to Github and copy ethereum and start a private, permissioned ethereum chain on which they can issue any number of tokens to represent anything they want. IT's simply a matter of writing an autoexec.bat that starts the node up with the settings they want, emailing it to the branches and instructing them to start running it and leave the computer on. "There would be no trust in the system. Banks cheat each other all the time!" -Not really though. I don't need to trust any other ethereum user in order to use the public main chain.

7rxt4q

Help me understand the XRP hodlers

I tried to ask some well meaning questions on r/Ripple, thinking that was best place to discuss pro-Ripple arguments. Ironically, I only had time to receive 5 downvotes before I was banned. Now I need to resort to you guys instead. *Why* would banks ever want to buy XRP tokens held by average joes all over the world? Why don't they start over in their own, closed ecosystem? * "Because it would be too costly for banks to implement things themselves!" Ok... but how costly? So costly that they would rather buy a substantial amount of XRP, currently with a 57 billion USD market cap? 1000 shitcoin makers have already copied and pasted other coins. * "There would be no trust in the system. Banks cheat each other all the time!" Ok... but isn't it this problem that distributed systems are designed to solve? And why would they place more trust in the system if non-banks run consensus servers?

ethtrader

Ripple is acting as a neutral third party to banks and payment providers. If a bank made their own coin who would actually trust it? Just as SWIFT and CHIPS are supposed to be neutral parties, Ripple will be one as well. The big difference is what Ripple offers that the others can’t. Ripple offers bi-directional messaging , allowing problems within a transaction to be fixed in real time. Ripple also can process Transactions in 3 seconds for fractions of a penny. Eliminating correspondent banking fees and passing on those savings to the customer. Along with more features One of the big reasons why xrp is being used is because it eliminates the need for nostro/vostro accounts. When a company makes a payment to another country, it must already have a pile of that countries funds parked over there to be withdrawn from to settle the transaction. XRP eliminates that need by being a sourced liquidity solution. Instead of holding many different currencies, you are now able to buy xrp when needed to settle the value transfer. This frees up trillions in capital for other things. Just as Bitcoin had first mover advantage in crypto and became the coin that all other are tethered to. Ripple has first move advantage when it comes to a bridging digital assets. This means that if a bank makes their own coin they will also have to go through years of PoC’s and marketing toward banks to use it. Not to say it can’t be done, but by the time they had a product as efficient as Ripples the game might of been over by then. Payment providers are taking significant market share from banks currently in the remittance market. Would a bank develop their own coin and suffer 4-8 quarters in remittance losses or stop the bleeding now and use the solution thats available. Ripple has provided a solution the banks didn’t know they needed since the introduction of companies like TransferWise, Venmo, and walmart2Walmart all started cutting fees. Hope this helps

7uxowm

Daily Altcoin Discussion - February 3, 2018

Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. *** The thread guidelines are as follows: - All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. - This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. *** Resources and other information: * Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). * 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!

ethtrader

Shill me IOTA. I find it hard to take projects outside of the eth environment too seriously, but IOTA is potentially one of those base level coins that could be big. I just don't feel it though, something isnt right. Am I wrong?

dz2jgz

Weekly Community Discussion - November 20, 2019

Welcome to the Weekly Community Discussion thread of /r/EthTrader. This thread is a place for community meta discussion - to learn or make suggestions for how community members could be better served. [Donuts](/r/ethtrader/wiki/donuts) are a welcome topic here as is non-donut related discussion.

ethtrader

[daistats](https://daistats.com) is pretty interesting to watch. Utilization on eth and bat is growing at a little over 1% per day. Thats a lot of circulating supply being locked up and it grows even more as prices drop. Creating a CDP is a somewhat easy process also. I think we are going to be hearing about this more going forward.

d6tohf

Is WeWork a Fraud?

Its not a technology company in any way, shape or form. No income is derived from the sale of a product or service delivered by a technology. They owe $47 billion in lease commitments. Claiming WeWork is a technology company is one of the many indicators that illustrate how Adam & Miguel intentionally seek to mislead and defraud existing & potential future retail investors. Source: https://medium.com/@henry.hawksberry/is-we-work-a-fraud-5b78987d3e61

investing

It is technology, providing SaaS (Space as a Service) to all the hottest new startups. Silicon valley and digital nomads can't fully accelerate with out the backbone of a highly elastic and scalable desk for your laptop. I'm Adam Neumann btw, so fuck you and give me your money.

mrgn0m

Who else is averaging down on HITIF? Sucker is now below 50 cents!

Disclaimer: I don't know shit about the market. Anyone else think HITIF is on a fire sale right now? I have enough liquidity to keep dumping into HITIF and averaging down, adding 1000 shares at a time (almost daily now for the last 2 weeks). Am I the only one thinking this is hilariously undervalued and if you have "long-term hold" in your mind for this company, then adding 1000 shares a day is just a great way to average down while also snagging tons of shares in the process. Granted, some people don't have that type of cash, but I'm thinking of pulling some out of other investments to keep this going. But I also haven't heard anything from the company that is potentially driving down their price. Any insight from the gurus here as to why HITIF has been on a steady decline for the last couple weeks? Note: this is a long term play for me (in the ballpark of 2+ years). So this low price is sooooo enticing to me because this has the real potential to be a dollar stock and not a penny stock.

pennystocks

They are rapidly expanding but it’s not free so they have to somehow raise money to open new stores. That’s why they do a lot of putting shares into the market (diluting) which as a result hurts the current shareholders. Common shares in the market: 21 Jan 2021: 477,228,764 07 Apr 2021: 655,281,879 They are authorised to “Unlimited” so they can just keep putting out shares “for expansion”. Hurts the stock price and I don’t like it but it is what it is. Edit: I see a lot of comments and nobody is mentioning this but should be aware instead of commenting “pump and dump” or “the dip is not justified” as they put almost 200m shares into the market in the last 3 months.

a368p8

How to rephrase "pay off mortgage" vs "keep it in retirement"

**EDIT:** See comments below. It seems my math is off. Will need a lot more thinking, since I feel like people have proven it's never a good idea to pay off your mortgage ;) We regularly have posts asking if they should pay off their mortgage during the FI process. I feel we most often reply with hand wavy "I think I can make more than 4%" and "I feel better if I pay it off". Not very data driven. I'd like to hear people's opinions if the below resonates to mathematically explain the tradeoffs. If so, considering this is a common question, I could consider adding something similar to the FAQ. \-=-=-=-=- Assume you have expenses of $80k. You have savings of $2.5 million. You have a home worth $500k, and to keep it simple, a $500k mortgage. A calculator shows at a 4% rate, a $2387 monthly mortgage payment. **Scenario 1**: $108,644 expenses, $2.5 million in savings. You're keeping the mortgage. **Scenario 2**: $80k expenses, $2 million in savings. You've paid off the mortgage. FireCalc ([https://www.firecalc.com/firecalcresults.php](https://www.firecalc.com/firecalcresults.php)) says (for 30 years): **Scenario 1**: **89% success rate**. " The lowest and highest portfolio balance at the end of your retirement was $-2,262,401 to $13,415,907, with an average at the end of $3,944,811." **Scenario 2**: **94.9% success rate**. " The lowest and highest portfolio balance at the end of your retirement was $-801,972 to $11,358,949, with an average at the end of $3,721,201. " Seems clear (and what people regularly say). Paying off your mortgage reduces risk. Keeping your mortgage will on average make you more wealthy. \-=-=-=-=- **Potential complaint:** This doesn't take into account the portion of principal your mortgage would be paying off. **True -** My assumption is that you live in your home for the next 30 years, and you don't move. Therefore, principal payments vs mortgage balance don't make a difference, since your home value could be $10 or $10 million, it only matters if you're planning to sell. YMMV. **Potential complaint:** This doesn't take into account the tax benefits of mortgage payments. **True -** Due to standard deduction, I'm going to assume \*most\* people won't benefit much, and it wasn't worth the complexity.

financialindependence

I'm personally less concerned with how it will impact my success as much as my possible failure. Pretty much all financial calculations are based on the assumption that the future will be like the past. While I think that is a very reasonable assumption to make, it is not a guarantee. Market crashes can and do happen and it can take a long time to recover. Our data set for how complex modern economies perform in the long term is also not that large. We make a lot of assumptions of what really only amounts to a few data points. I'm not some kind of end of the world nutter, but I also think people tend to underestimate the risk of "black swan" style events. Especially when looking at a 50+ year periods. If things go to hell and I have a mortgage, there is a good chance I will lose my home. I am self employed and a major depression would likely end my income for a long while. On the other hand if I own my house free and clear then at least I won't be homeless no matter what happens. Even if my investments plummet and I can't make much money. It's also something that I can use to make money, even if it's meager. It's also nice to know that even a more modest downturn I wouldn't have to touch my savings to pay debt. So while yes, if the next couple decades are like the last couple I would come out ahead not paying it off early. But if they are like the 30's then I'll far much better. Avoiding misery matters more to me than having more luxury.

7gaz89

Milestone 1M hit!

(temp account) I can't really tell anyone else this so I am telling all you kind folks who have given great advice over the years. I finally hit 1M in combined 401k and stocks, almost a split right down the middle between the two. I have 5 years left on the house mortgage and am so tempted to pay it off early but I will listen to the data driven advice and keep the debt since it is a pretty low rate ( under 3%). I am hoping to retire in about 10 years (which seems a long way away right now) and a goal of 2M which I think I can get to since when I pay the mortgage off it will free up a significant portion of income to invest for the next 5 years. An alternate option would be to buy an investment property when my current house is paid off but unsure if I would rather have that or more cash. Any opinions here? I also have kids who are older (in college) but the wife wants to continue to work when I retire so I am lucky for that and she will provide the medical benefits. I just wanted to say thank you all for the help and keep plugging away!

financialindependence

Good for you. We're in a similar situation. We're both 57, I went RE at 49, and she continues to work (she's adding to a state pension and carrying our health insurance). Our targets are higher than yours, but we've cleared the nicely (more than doubled our NW since I went RE - apparently I'm a financial genius if doing nothing during a downturn equals genius). My advice? Be like me. Don't pay off the mortgage. Stay the course with your investments. Don't create work for yourself with things like investment properties. Maybe slowly shift to more income production models. And enjoy life and fucking yourself!

hgydrk

The Reason Why the Fed is Buying Corporate Bonds

I was surprised when the Fed announced it would be purchasing corporate bond markets, especially for non-investment grade issuers. “Why do they need to do this?” is a legitimate question. I believe there is a tactical reason why they did this and it makes sense. Most banks provide large commitments often up to 5 years on revolving credit facilities that act as quick sources of cash if needed. A lot of companies never intend to use these but pay the expenses for them in case of a time when they really need the money. In March, a lot of companies drew on these revolving lines of credit to the max so they could get cash while it was still available. Banks have to put money out the door when these are drawn upon and everyone was doing it at the same time. This helps the liquidity of the companies borrowing, but clearly impairs the liquidity for banks as they have to put money out the door to meet the demands. This became a major problem for banks and it attributed to some major dislocations in various high quality fixed income products seen in March. In April and May, corporate fixed income markets saw a TON of new bond issuance after the Fed announced it was purchasing. Some companies that issued new bonds were ones that drew their revolving credit facilities to the max in March (funded by banks), and some were companies that may have needed to do so in the future. The Fed supporting the corporate bond market took major pressure off bank liquidity and it effective transferred the funding sources to asset managers and other institutional investors that (1) are not as systemically important as the banks are to the economy and (2) in better position to fund at their discretion, as opposed to contractual funding commitments banks provide. This is not meant to be a post supporting Fed’s actions, but I have previously questioned the need for a central bank to be purchasing corporate bonds and I believe this is the reason why they did it. It’s been successful. The future unintended consequences of the Fed’s actions are a separate topic.

investing

because there are no lenders available. The only way for lenders to be enticed in lending is to increase rates, but everyone is levered to the tits, so that's not possible. The only way to keep rates low is for the fed to be the only lender to buy these corporate bonds. If these corporate bonds are not bought, rates would be pressured upwards immensely and we will have a sharp economic contraction. This is the problem that happens when money supply expands at an exponential rate rather than gradually. This began since the dotcom bubble engineered by Alan Granspeen, which the subsequent fed chairman/woman followed a rule book on 2008 financial crisis and now covid19 crisis.

9zcfmj

Anyone else?..

Anyone else have NOBODY to talk to about investing or stocks? Because your friends and family dont invest and you dont want them to start because either they are too dumb or afraid of the market? Yes there are those people.. just thought it would make a nice Thanksgiving dinner convo for my family but.. nobody invests in my family!.. stocks serve as a nice hobby for me but I can never talk about it.

investing

I'll be honest....I wouldn't start talking about it because it makes you look like a money maniac. Let's be honest, we all want to make money but no one wants to listen to other peoples opinions on how they are trying to make money.

w6hp3l

PSA: Always bet on Snap going bonkers after earnings

I don't know what it is about this stock, but it's positively insane around earnings. As I'm sure everyone saw, the stock dropped almost 40% on Friday after its earnings, compared to an expected move of 18%. The 4 earnings cycles before that: 4/21: 20% expected, 1% actual 2/3: 20% expected, 59% actual 10/21/21: 10% expected, 24% actual 7/22/21: 10% expected, 27% actual It's totally bonkers. I fully expect this disparity to decrease over time, but it's exceptionally weird and has been good to me the last year or so. Anyone have any ideas about why the market hasn't gotten wise to this? Anyone have any good trades to capitalize on this? (Earnings data from marketchameleon)

options

Uhhhh because the stock is a piece of crap - it lost over 100 billion in market cap over the last year . That’s why - their digital ad business is gone - only possibility is that someone wants to buy it - that’s the only way this is going up They are taking most of their remaining cash and buying back stock in a ditch effort to dry up the undiluted . They have negative free cash flow - translation the stock is worthless there is no cash or assets to back it up

3mok7t

2.1M AUDIs affected

Scandal widens... [http://www.cnbc.com/2015/09/28/vws-audi-division-says-21m-cars-affected-in-emissions-scandal.html](http://www.cnbc.com/2015/09/28/vws-audi-division-says-21m-cars-affected-in-emissions-scandal.html)

investing

Not really it has been known since the beginning of the scandal that TDI A3 models where affected. People sometimes forget Audi and VW are pretty much the same company. The A3 is just a luxury golf/jetta, identical motor and suspensions, just different body and badges. I wouldn't say the scandal widens. If it comes out that VAG was cheating on the 3.0TDI as well models then that would be news.

1ve0x2

WARNING: ACR (Americas Poker Room) is swallowing BTC upon deposit! Please upvote for visibility and read inside for details.

A heads up guys, I just deposited 200 usd worth of BTC through ACR's deposit method using BTC. Well, I tried to anyways. The first time I used it for 8$ usd as a test and it worked fine, second time I'm currently missing 200$ usd and waiting to hear from support. What happened: Went to deposit page, copied the wallet address, transferred btc from my wallet to that wallet address and nothing deposited into my account almost an hour later. First time, it was within 10 minutes. Second time, larger deposit and it went missing. When I contacted support: The rep didn't know where my money was. They didn't know what to do. All they said was that the transaction was cancelled and reversed. I told them, you cannot do this with BTC. I sent the money and showed them the link of the blockchain with the money clearly sent at that time to that address for that amount. They said there managers were in a meeting and would get back to me an hour and the rep logged off the chat. I saved the conversation and e-mailed support and have not received anything yet. Be careful with depositing to the site and I will update if anything changes. You could lose your deposit to this site, if you are unlucky. All i can hope for is that the "managers" get back to me. UPDATE: They have returned my money and were prompt. There is a timer on deposits, so for future deference, deposit the btc right away and make sure you are doing it straight from a wallet that doesn't have to calculate fees to deduce. Apparently, while they remove fees it slows down the transaction and prevents it from depositing. If you don't want a hassle remember these things!

Bitcoin

oh for god's sake. come on, you know ACR has been around a long time and is legit. they're going to get it figured out. either they'll find it or they'll reimburse you and eat the loss. they aren't just going to steal it. give it some time. they JUST integrated bitcoin, and obviously they didn't do it very well, and nobody knows how the fuck to deal with bitcoin. give them time to respond. keep on them, an e-mail or two a week if they don't respond.. but don't get your panties in a bunch, you'll get your money.

p0u4lw

Is it me, or does any one else have a strange feeeeeling about this upcoming week?

This is just going to be shit post... ​ I don't have any new DD or media or anything of the sort to contribute other than the fact that, this upcoming trading week, just *feels different*. Idk if y'all believe in intuition or any of that woo-woo shit, but something is tingling my nipples and I sure as hell know it ain't the weather because I live in SoCal. Either this post will age like cheese out in a Mississippi summer, or it doesn't and I'm fucking psychic. Just wanted to see if any other apes feel like the tides might turn next week. ​ See you all in the morning, Willy Shakespeare

Superstonk

There are no scheduled announcements, earning, or updates left. There is absolutely no reason for tit jacking. So, yeah. Tits jacked to the max. Everyone know the MOASS will start when we least expect it.

osmsbm

I raise chickens and can answer all your chicken questions.

Yes, it's a bit obscure in terms of a skill set, but hey, it is a bit of a passion for me and I have accumulated a lot of knowledge about chickens. So I raise chickens and dogs. It means that I have almost zero waste of food products in my home. Spinach goes limp or mushy? It goes to the chickens. Bits of leftover proteins in the house? It goes to the dogs. Chickens give eggs! Some people raise chickens for meat. And chickens eat ticks and aerate your soil. Additionally, there are a lot of endangered chicken breeds. And do you know why? Corporate greed. They have bred chickens that produce eggs that are uniform in size, color, and "quality." These chickens have no life except in a cage. I am no prepper by any stretch of the imagination, but I always keep a garden in the summer and we are swimming in zucchini and eggplant right now. Chickens get the scraps of almost everything and everything else is for compost. The chicken waste is fertilizer, too. I know not everyone has the space to have chickens, but I thought I would offer assistance to those who might want to get started. I'll bring a picnic basket to the moon!

Superstonk

Former Silky owner here. I used to have Labradors. I still do, but I used too. Just wanted to pop in and say that after 2008, a lot of cities began allowing Single Family Residences to raises a limited numbers of chickens.

sess0z

Options with Training Wheels aka Defined Outcome Investing

When people want to dip their toes into options, so often they start with buying single leg options because it seems simpler to grasp. But what they don't realize is that they're playing a losing game and when the market moves against them, the results can be disastrous. Counter-intuitively, more complicated option strategies are actually safer and provide higher probability of winning. When you create spreads with options, you can achieve what we call "defined outcome investing." Institutional investors and the top 1% have been using defined outcome investing products for decades (in the form of structured notes and annuities and more recently unit investment trusts and exchange-traded funds). Retail investors should have access to the same tools to achieve less risk and a defined return on their investments in the market. ## How Does Defined Outcome Investing Work?  First, let’s define some terms that are relevant to defined outcome investing:  **Reference asset -** Each defined outcome investment is linked to the performance of a reference stock, ETF, or index. **Reference price -** This is the price of the reference stock, ETF, or market index. **Outcome period -** A defined outcome investment is not infinite. It is an option contract with a set time period. **Cushion -** The cushion is the amount of the underlying asset price can go down before you lose any of your investment. In other words, this is the amount of safety blanket you have for your investment against the market. *Example:* If the market index **reference asset** falls by 18%, but your defined outcome investment has a buffer of 15%, then you will only lose 3% overall. The cushion has absorbed most of the decline. Some popular buffers are set to 9%, 15%, or 30%. **Ceiling -** The ceiling is a cap on the maximum amount of profit you can receive as the underlying reference asset price goes up. You are cap your upside in exchange for the buffer. *Example:* Say that the reference asset price soars by 35% but your upside cap is 30%. You would collect up to the first 30% of the reference asset’s increase, and miss out on 5% of the gain. When you combine these concepts into a defined outcome investment strategy, you can create security for your investment, even during market volatility. The contract of the defined outcome investment is set for the outcome period. You can withdraw early if the value reaches your target profit earlier. ## What Are the Benefits? * **Customizable risk-return profiles** With defined outcome investing, you can personalize your risk-return profile to align with your long-term strategy. You can be conservative or aggressive. Your buffer can be set to absorb downside volatility while keeping your cap high enough to help you reach your financial goals. Or if you're particularly bullish on an asset you can accelerate the upside in exchange for a ceiling on the profit. * **Income Generation** You can define certain outcomes to provide a fixed return that is superior to bonds and CDs while taking a reasonable level of risk. ## What kind of Outcomes Can be Achieved? There are three main objectives that can be achieved with defined outcome investing:  1. **Income / Preservation** *Best for investors who want to preserve capital, even in a down market.* The preservation strategy offers maximum cushion and a fixed return. The drawback to this strategy is that the ceiling is typically lower than with other strategies. Put spreads are commonly used for this objective. ‍ *Example*: Buy 1 $120 put Buy 3 $125 puts Sell 5 $135 puts 1/20/23 expiration Nets a fixed **13%** **(13%** **annualized)** unless $AAPL falls below **18%** (**$133.97**) as of 01/20/2023 https://preview.redd.it/16b0uwj3xfe81.png?width=1428&format=png&auto=webp&s=f8081f60dde9506784f16a8a6d9a553a699e246f 1. **Growth** *Best for bullish investors who want to collect profits earlier* The growth strategy is on the opposite end of the spectrum in terms of risk. There is typically no downside protection, but in exchange for the ceiling you get accelerated profit. *Example*: Buy 2 $160 calls Sell 2 $170 calls Sell 1 $170 put 9/16/22 expiration Accelerates gains by **3.2x** and makes up to **20.8% (34.7% annualized)** on $AAPL through 9/16/2022. https://preview.redd.it/bdehv87pyfe81.png?width=1426&format=png&auto=webp&s=de7f88d8c9525f6b0c4e34aefcb5369cfc0d42ed 1. **Hedged / Buffered** *Best for medium risk, medium reward long term investors* This is the meeting of the two above strategies and is the most popular for defined outcome investing. You set a ceiling and a cushion that keeps your investment within parameters that match your objectives and outlook on that asset. *Example*: Buy 1 $160 call Sell 1 $185 call Sell 1 $140 put 11/18/22 expiration Makes up to **18.3% (23.1% annualized)** unless $AAPL falls below **13%** (**$143.19**) as of 11/18/2022 https://preview.redd.it/lqd2zudvzfe81.png?width=1422&format=png&auto=webp&s=7d8fc58716a459ac00a7c1b84381812de6d4b841 Would love to see a shift in how beginners approach options trading and even out the playing field. Options are getting a bad rap because when it comes to options the "simple" approach is not the best.

options

This looks similar to a video I was watching recently called "The safe wheel strategy". See: https://youtu.be/RVg788SHqBI The strategy involves buying 3 long dated puts, then selling a put and buying a call with the same expiry.

l7ty3m

If you join Bitcoin today due to Musk's tweet, remember to DCA!!!

To all newcomers arriving in BTC-world today: don't go all in. Buy a little bit now, a little bit tomorrow, etc. You don't want to get burned on your frist day entering the crypto-world (yes, you may not get burned, but a retest of something like 35k is likely, so stay rational and dollar-cost-average). edit: thanks for the rewards. i think they are my first ones ;-)

Bitcoin

Everyone does what's the best for them. I usually buy Bitcoin once a week - only the money I can afford to lose. This [DCA calculator](https://amber.app/calculate-your-investment/) might help to decide what will work best for you. Bitcoin isn't a 'get rich quick' scheme, it's more about 'not getting poor slowly'.

c1pgm5

Advice: Depression lead to debt of £24k. Offered a loan of 13% over 3 years. Is that better than constantly trying to keep up with 0% credit cards?

I am terrified of my debt and I can't look at it long enough without panicking. I currently have £9k on one credit card (17% interest) and another £13k 23% interest. I got it by trying to keep my parents from becoming homeless. They are ok now and I need to repair my finances. I've been offered a loan to pay off both debt at 13% repayable at £800 a month for 3 years. That would amount to £5k interest. ​ I am a mess. According to Experian and moneysavingexpert that 13% interest is the best deal I can get. Apparently my decision to take out 3 credit cards in the last year - but then deciding not to use them- has led me to be turned down for my bank's loan at a lower rate. I could close down those cards immediately if it would help as they have no debt on them at all. ​ I earn £55k a year and have no other obligations. Is this the right thing to do? I just want to throw money at the problem and be debt-free in 3 years or less. It's making me seriously depressed.\] ​ \*\*\*\*edit: please don't downvote this. I really need advice. I have no-one I can turn to\*\*\*\*

personalfinance

Hi I'm reading this and wondering if you are me, minus the anxiety. Basically I was over $20k in debt, across loans, credit cards (I used to do this Extremely stupid thing where I got a loan to pay a credit card off and then spend the newly freed up money on the credit card, (for a read definition of stupid, please re-read the previous sentence lol)). Anyway I recently started a job earning 45k now which allows me to put in about 1k a month into these credit cards and loans and after 2 long years I'm down to 6 months left of paying down these debts. Then I'll be debt free. Use a debt calculator spreadsheet to run the numbers for you, I basically ran my life out of the spreadsheet as it told me how much to put into each account to minimise interest payments. Also, this might be the most important message, don't beat yourself up. You're already doing a really hard thing so why make it intentionally tougher on yourself?

kdod3y

Can someone make an index fund like the SP500 but instead the WSB50

Im too tired having to check reddit every single time I want to make a trade? I read some article on google about how index funds only go up (average 75% a year) and was hoping I could get in on the action with the right shares. I don't want some stupid index fund with 'long-term' performance, I want tendies, and I want them now.

wallstreetbets

Due to this thread being my single biggest success in life (receiving 250+ upvotes), I’m gonna use it to start a brand new index fund titled $WSB69 with the 69 stocks who are both the most mentioned on the sub and have the most debt. See you all on the moon.

nvaf8f

If DFV buys at market today with his last 3 mil and posts a yolo update it’s going to create another unassailable floor at 300 just like what happened at 150. His fans won’t let it get below 300.

I interpreted his Omar tweet saying I always keep one in the chamber to mean he’s about to unload the last of his funds on one more at market buy. If that happens good luck to shfs ever getting it below 300 again since his many acolytes will buy it up in droves if it gets close to his market buy. Same thing happened with 150. Edit: to the tards worried that this post smacks of market manipulation it’s already been gone over thoroughly that the legal precedent is that market manipulation requires a coordinated group of actors where compulsion is the central element. Members are compelled to buy or sell at certain prices and have no say in the matter. And if Jim pants creamer and all those other douche nozzles can get on live tv or write posts and straight up tell people to buy stocks that end up being pump and dumps for hedge funds what case is there to be made against someone who simply posts their position? If fans want to buy they can buy, if they don’t want to buy they don’t have to. No compulsion there. This is Murica, not communist China.

Superstonk

Doesn't sound right to me when you say his fans would this and that. I'm personally like the Stock. And of course I fucking love this guy but thats two different things here ;) \*and a fucking happy Birthday to Keith btw!!

njgyv3

If I hold a stock long term and keep adding to it does it get taxed long term or short term when I sell it?

Recently I bought more shares of a company called CPSL I had originally been holding 100k shares that I bought in 2018 but I purchased another 61k in March 2021 I’m just curious if I sell will my full portfolio be taxed long term or short term or will they split it up?

stocks

Each share gets its own hold period---it's not the entire ticker. For instance, if you buy 2 shares of XYZ today and sell 1 in 4 days, the one that you sold in 4 days would be a position held for a short term. If you sold the other 3 years later, it would be a position held for a long term. ​ IDK if it's really FIFO as others have suggested bc you can actually change lot assignments.

liw0zx

#ASKO - Main net launches later in the evening TOMORROW(2/13)along with the new and revamped website.

Forget the moon. We're shooting for the stars on this one. You can compare ASKO with AAVE. (6.45 BILLION Marketcap, Also a lending platform) Current Marketcap for ASKO is (USD): 31,362,273 (Low!) and the Circulating Supply is only 107,455,199 tokens (also low). 1064 People are currently staked on asko.finance. Total Staked is 63,404,395 tokens. That's 45.78% of Total Supply! This is crazy. Why is ASKO worth your time? - AAVE only has 23 assets listed and available. ASKO will list 11 tokens at launch with more lined up for availability shortly after launch is confirmed stable. - Tierlending with different risk categories is one big difference from AAVE. In Askolend you can choose between a high slash-risk pool with a change that can result in assets slashed or a lower risk pool with no chance of slashing. That means that the rewards are higher in the slash-risk pool. You have options here! Live dangerously and gain sick gains or move one careful step at a time? Look, the coin is sitting at a 31.3 million market capitalization. AAVE is at a 6.5 BILLION Marketcap. (Jesus christ) Let's say Asko is only 10% successful, okay? 10% of AAVE is an x20 from now. ********** Heres some comfy bulletpoints: - The contracted developer that wokred on Askolend is from dOrg. (Developer team that worked on The Graph, Gnosis, Balancer and eToro). Here is the kicker: The Graph has over a 2.5 Billion Marketcap. Also, don't you see eToro ads all over? Think about it. - Their code is fully audited and passed security audits after some minor fixes. A new audit is coming up soon. - CEO is from USA and hes pretty damn based. His last name is Curry but he's white as hell lol. If you have any questions and he's not busy he always tries to answer. -The whole community is cool and welcoming (Well, MOST of us are...lol) ********** Okay...so TLDR / shill me quickly what sets ASKO apart from competitor AAVE? Why not just invest in that? Well, In AAVE if you’re staking your AAVE tokens in the safety module you may lose up to 1/3rd of your staked amount if there’s a sudden insolvency and the protocol needs to balance it out. Yet with Asko, when you stake you can choose between the before mentioned high risk pool with that chance to be slashed or the other lower risk pool with no chance. Don't forget that Asko plans to have many more assets added after launch to their lending platform. Not only that but they have other huge project ideas in the works that you have to join the Telegram channel to learn about. This is only the beginning and you can be part of it. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Useful links: dextools.io ETH/ASKO Pair: https://www.dextools.io/app/uniswap/pair-explorer/0x63804d757b5b7c43509fded8f7ce10cc0bac2ae0 Offical Telegram channel: https://t.me/Askomain Quillhash Audit: https://drive.google.com/file/d/1JwCCkcWnhpiXkaJMhms8WLY_hmzEkrL9/view dOrg Medium post AMA: https://medium.com/@thegeneral1/askobar-network-x-dorg-team-x-american-hito-of-uniswap-army-8be7113c049b dOrg tier lending protocol (Askolend) hire announcment tweet: https://twitter.com/dOrg_tech/status/1303258902977564672

CryptoMoonShots

>- CEO is from USA and hes pretty damn based. His last name is Curry but he's white as hell lol. If you have any questions and he's not busy he always tries to answer. Quick question, why is the fact that the CEO is white relevant here? It seems like you're referring to the fact he isn't POC as a benefit.

m7g3rc

Think I've stumbled upon a absolute DIME of a Presale. Less than 2 hours to go and 1600 out of 2000 BNB Secured. Liqduity being locked on Pancakeswap. Dev of $WHOLE and influencers of $RFI present MIRROR ($MOR) - SEND IT

Alright guys I know we dont normally talk about pre-sales here that often, I have tried to get into a few myself but many of the latest IFO/IDOs etc are extremely difficult to get into nowadays because the distribution models they are mostly only accessible by whales. Not the case here, this presale is though DXsale and you can contribute as little or as much BNB (Via BSC Smart Chain) and receive the equitable amount of MOR. Dev has a great twitter and telegram following and is supposedly renowned as the creator of $WHOLE involved with $RFI. Mirror (Not to be confused with another amazing project mirror.finance) is dubbed by the dev as a "NEW CONCEPT by Founding Fathers of Frictionless Trade" Crypto that provides holding and trading instant rewards with burn. As always guys DYOR for visibility sake Ive gone in with less than 1 BNB just for shits and giggles but I know that Ive missed out on a hell of a lot of amazing presale opportunitys so if you want in now might be the time. From the Website: * Every Transaction has a 0.5% burn & dev fee. The burn allows every trade to lower overall supply. The dev supply allows for continued events and progress of development. * 1% of the transaction fee is distributed to all holders of the ecosystem * Every Buyer earns weightage rewards instantly from the next 3 transactions in the protocol. Sellers are not rewarded. * Web3 Dashboard: Data around the ecosystem and a leaderboard to provide additional rewards * Farming: Portion of the event supply will be transferred back and forth to reward all holders + reward farmers + create maximum burn. *Community Driven Events and Features through governance voting TO EVERYONE IN THE COMMENTS SAYING THAT THE PRESALE DOESNT START FOR 18MILLION YEARS YOU NEED TO CONNECT ON BINANCE SMART CHAIN, SCREENSHOT HERE: https://imgur.com/a/kFmAQOD PRESALE LINK: https://dxsale.app/app/pages/defipresale?saleID=22&chain=BSC WEBSITE: https://mirror.farm/ TWITTER PAGE: https://twitter.com/mirrorbsc TELEGRAM: https://t.me/mirrorbsc MOR HAS JUST LAUNCHED ON PANCAKESWAP GET YOURS NOW: https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x85e5682Cc4513358f765cb8Df98f1DD140c6cF86

CryptoMoonShots

Got me a bag. I helped test on Ropsten and everything worked great the way it should. The key is to use it the way it was intended, which is to buy to keep yourself in the farming slots. Very interesting and unique project.

4mm7tw

What is your honest opinion of Lisk?

hardcore eth-er here (see what i did there?), is curious what does the etheruem community think about lisk honestly and objectively (no bias). i am curious what you brilliant minds think EDIT: Thanks for all the replies gentleman . I knew I could count on all of you for excellent discussion as always . Big and special thanks to bmisterxster for an excellent breakdown. By the way , lisk is up today , maybe we had something to do with that who knows. As an investor , I'm going to roll the dice and buy a small amount . However , I'm betting on ethereum long term through and through . Happy trading guys .

ethtrader

i've not followed much, but I saw an article saying that there were only 2 devs If thats true, it's never gonna take off and one should get out of this sh*t while there are still some bids. I don't own any and not interested

71h8z4

Daily Altcoin Discussion - September 21, 2017

Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. *** The thread guidelines are as follows: - All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. - This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. *** Resources and other information: * Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). * 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!

ethtrader

Well it looks like ChainLink's LINK is the one to watch. It's at x1.8 on EtherDelta within 24 hours of tokens being sent, and given their product and their team, I'd expect this to hit Top 20 Market Cap in crypto by the end of the year. Maybe even before. This project also bodes well for Ethereum, as it will bring us into contact with many other industries. I'm scooping up all I can while this is below 2x ICO on EtherDelta. Good luck guys.

7ytrc5

Daily Altcoin Discussion - February 20, 2018

Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. *** The thread guidelines are as follows: - All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. - This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. *** Resources and other information: * Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). * 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!

ethtrader

I review at least 5 different coins each week. Here are my reviews and due diligence for this past week. Here is a link to my Due Diligence sheet where I keep all my notes. https://docs.google.com/document/d/1XQlAGIDPjDoQNHtzEWGdbO9i8MUkc4lZFKYLTZzMpYU/edit?usp=sharing Civic Summary Review: https://www.youtube.com/watch?v=nm_F0O-LdYo Civic Due Digilence over 4 hours long: https://www.youtube.com/watch?v=36JTsX9ScEI LiveEdu Summary Review (ICO just ended) https://www.youtube.com/watch?v=N3bjEcjs8LI LiveEDU Due digilence: (Combined with ECC due digilence so about 2 hours long) https://www.youtube.com/watch?v=428vBSzet_s TheKey: Summary Review https://www.youtube.com/watch?v=j_yN6m-IhEY TheKey Due Digilience over 3 Hours Long https://www.youtube.com/watch?v=MloFP5NIwV4 Aigang: Summary Review https://www.youtube.com/watch?v=PRmbIGX5jeM Aigang Due Digilance about 3 hours long https://www.youtube.com/watch?v=aols494RpLU Po.et (POE) Summary Review: https://www.youtube.com/watch?v=TqxRB7idMoQ About 6 hours long!!! Long because I started to review Neo then decided to hold off for now. https://www.youtube.com/watch?v=C6rRnPHD9bQ Feel free to comment on my Due Digilence sheet.

7wr7ql

Daily Altcoin Discussion - February 11, 2018

Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. *** The thread guidelines are as follows: - All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. - This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. *** Resources and other information: * Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). * 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!

ethtrader

Comment that didnt age well: https://www.reddit.com/r/ethtrader/comments/7u7vxm/daily_altcoin_discussion_january_31_2018/dtjwr0d/ Next time i'm going to make a "no-brainer" decision i might wait a week

nxjzne

Borrowing money to keep the inherited family home

Hello, first time poster here. My sibling and I are in the process of splitting up our family estate, which belongs to a family trust. One of the assets in the trust is the family home, and my sibling wants to keep it and let me have an equal value of the rest of the estate. Because the combined value of the rest of the estate is less than the value of the home, our attorney has suggested that we get a loan in the name of the family trust, and use the money to equalize the value of the divided assets. The issue I am having with this plan is that the lender in question wants me to cosign the loan personally. I feel like this isn't a great idea to cosign a loan for the sake of holding onto a property that I won't have an interest in going forward. Also, I'm kind of debt averse in general. While I have attempted to explain this point of view on this issue, I feel like I'm not making my case against cosigning convincingly enough. What sorts of questions do I need to ask to gain clarity on what it is I am being asked to do, and what the potential risks are? The estate and property is in California, and the issue of maintaining the inherited tax basis, instead of reassessing the property at a current basis comes into play here, I think.

personalfinance

It doesn't make sense for the trust to take out a loan if you are both removing assets from the trust. Your sibling needs to get a mortgage on the house for the amount due to you to make the distribution equal. You shouldn't be agreeing to be a borrower on any loan.

2pfgjg

Exposed: Luke-Jr plans on forcing blacklists on all Gentoo bitcoin users by default, for the second time

In his words > Me: u plan to implement transaction blacklisting as the default on gentoo *again*? > [Luke-Jr](https://www.reddit.com/r/Bitcoin/comments/2pd0zy/peter_todd_is_saying_shoddy_development_on_v010/cmw686j): Spam filtering has been a standard part of Bitcoin Core since 0.3. Please ignore the trolls who want you to think there's something nefarious going on. previous thread with over 500 comments ([WARNING](https://www.reddit.com/r/Bitcoin/comments/2ityg2/warning_bitcoin_address_blacklists_have_been/): Bitcoin Address Blacklists have been forced into the Gentoo Linux bitcoind distribution by Luke-jr against the will of other core devs. Gentoo maintainers are clueless and not reversing the change. Boycott Gentoo now. ) simply ridiculous. forcing blacklists on bitcoind users of a *linux* distribution? apparently luke-jr is steadfast in being against software freedom

Bitcoin

Let's be clear: as soon as Bitcoin starts deeming some transactions to be spam, it's worthless. I, and I'm sure many others, will have no interest in a payment system that may at any point decide that my transaction "doesn't count". It's basically a content filter, and we all know how futile but irritating those are. This is such a damaging idea that it brings sabotage to mind.

q41zkn

98% of retirement accounts in the US can’t access Bitcoin. That’s $36,800,000,000,000 What happens when they do?

Read this, this morning from Dan Held and it gave me the boost I needed for further investment right now ! 🚀 EDIT: with poss analysis! https://mobile.twitter.com/invest_answers/status/1446188349123792904

Bitcoin

They will think they can once this disgusting bitcoin futures etf comes out. But then, one day they will sadly realize they threw their whole life-savings on absolutely worthless cowshit. Sorry in advance, people. And now to the smart guys upon you: *Buy real bitcoin and make sure to exclusively own the keys.*

nybmng

A stock lending conspiracy - Equilend, Project Gateway and ‘The Five Families’

Good morning, good afternoon and good evening all you lovely apes. My name is u/piece-friendly and I’m a crayon eating apetard. Y’all ready for some of that sweet, sweet DD? Buckle up… So let’s get started at the beginning… As a quick intro, I’ve been an investor in GME since January, I’ve seen the rips and I’ve seen the dips. In February, when u/deepfuckingvalue doubled down, I also did too. I have incredible faith in the turn around of GameStop, the new leadership team and their drive to give value to shareholders - this wonderful community I’m proud to be in. During March and April I went fully tinfoil. I went down rabbit hole after rabbit hole, sponging everything I read, learning about new terminology, new processes and expanding my smooth brain and grew some wrinkles. Since May, I’ve really taken a bit of a back seat and chilled out a bit, taking time to concentrate on my job, my pregnant gf, and a life I nearly blanked out through absolute commitment, some would say obsession, for the stonk. Quite recently I’ve seen the likes of u/dlauer, Wes, Trimbo talking about the serious issues with the stock lending market, and I wanted to draw to your attention to some of the research I gathered some time back that should be known and more widely recognised. It’s not something that I’ve seen covered in many of the DDs from the likes of u/atobitt u/heyitspixel or others, but totally forms another part of a big ol’puzzle. So firstly for the smooth brains that don’t read good, what’s stock or securities lending? “Securities lending is the practice of loaning shares of stock, commodities, derivative contracts, or other securities to other investors or firms. Securities lending requires the borrower to put up collateral, whether cash, other securities, or a letter of credit. When a security is loaned, the title and the ownership are also transferred to the borrower. A loan fee, or borrow fee, is charged by a brokerage to a client for borrowing shares, along with any interest due related to the loan. The loan fee and interest are charged pursuant to a Securities Lending Agreement that must be completed before the stock is borrowed by a client. Holders of securities that are loaned receive a rebate from their brokerage. Securities lending provides liquidity to markets, can generate additional interest income for long-term holders of securities, and allows for short-selling.” (https://www.investopedia.com/terms/s/securitieslending.asp) We’ve heard this is a trillions of dollar industry where prime brokers are absolutely cleaning up. Lending securities for fees, rebates, interest fees, then using the securities against investors playing both sides of the court. Giving with one hand, taking with the other. After Burry released the collateral rehypothecation document in feb (https://www.federalreserve.gov/econres/notes/feds-notes/ins-and-outs-of-collateral-re-use-20181221.htm) it got me really interested in the failing system, so I dug in to find out what dodgy dealings could have been going on. For anyone looking to add a wrinkle, have a read. It’s essentially why the repo and treasury markets are completely fucked, as the same toxic sludge gets lent, and re-lent, and re-borrowed, again and again, creating epic collateral chains and systemic risk, whilst making the books look just lovely. So on my path in the securities lending market, I came across Equilend… https://www.equilend.com “EquiLend is a securities lending platform started in late 2001[2] by a consortium of leading financial services institutions. Founding members include Barclays Global Investors, Bear Stearns, Goldman Sachs, JPMorganChase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Northern Trust, State Street, and UBS Warburg.” - wiki. Now that got me interested. Some familiar faces there right? Some that might have blown up a bit in the 2008 financial meltdown? Something not quite right here even to a complete retard. A consortium? So what’s that exactly? “A consortium is a group made up of two or more individuals, companies, or governments that work together to achieving a common objective” So what’s the common objective here guys? Because from what I know now I think it’s probably to make as much money as quickly as possible at the expense of a fair and free market… Fuck everyone else right? There is relatively no information about this company, their wiki is like 3 paragraphs and guess what’s in the last one? “EquiLend and its prime broker owners are currently being sued in the Southern District of New York for antitrust violations. The case survived motion to dismiss in 2018” Yep, that’s rights they’re in the doghouse for antitrust issues. Pretty big ones I’d say. Dave Lauer and Wes’ interview was a real eye opener and sort of drove me to make this post. Because this is bigger than Melvin, it’s bigger than Kenny Mayo. They are getting a lot of shit, and quite rightly because the whole Citadel set up is a fucking scam. This goes beyond them and to the Prime Brokers (PBs). The banks. Yep it’s likely those fuckers again that are going to burn the house of cards again. As we saw in that lovely bit of DD that goes by that name. So are they too big to fail again? That we will soon see, I believe. Anyway, back to Equilend. So what kind of shit have they been getting up to you ask? Well, I came across a class action from 2018 that I think y’all gonna like. It’s a pretty damning report. To summarise it see the following exert on the case background: “On August 17, 2017, Cohen Milstein Sellers & Toll PLLC and Quinn Emanuel Urquhart & Sullivan LLP filed suit in the Southern District Court of New York alleging collusion among six of the world’s largest investment banks to prevent modernization of the $1.7 trillion stock loan market. Plaintiffs, including the Iowa Public Employees' Retirement System, the Orange County Employees Retirement System and the Sonoma County Employees' Retirement Association, allege that Bank of America, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley and UBS conspired to overcharge investors and maintain the power they hold over the stock loan market, obstructing multiple efforts to create competitive electronic exchanges that would benefit both stock lenders and borrowers. The stock loan market is a critical component of a strong economy, enabling trading activities like short selling and hedging while also ensuring that financial systems operate efficiently. The plaintiffs in this lawsuit(…)—claim that investors who borrowed and lent stock through the stock lending market were and are being harmed because six investment banks took collective, illegal action to boycott, attack and acquire multiple entities who tried to increase competition and lower costs in the stock loan market. The banks named as defendants in this suit routinely took steps together to block the development of competitive exchange platforms like AQS (in the United States) and SL-x (in Europe) and the impact of government regulatory reforms. For example: When the investments banks learned that Bank of New York was using AQS for stock loan transactions, Goldman Sachs threatened to return billions in collateral and never do business with BONY again. BONY promptly abandoned its plans. Various defendants took similar steps with well-known hedge funds too, including SAC Capital, Renaissance Capital, and others – telling them they would not connect them to an AQS, and, if they did not like it, they could take their business elsewhere. As AQS’s executives made the rounds of the stock lending industry and meeting with the organizations that would be part of the re-engineering of critical market infrastructure, one such institution openly stated that the AQS plan, “[sounded] great, but who’s going to start [your] car in the morning?” When SL-x met with two Goldman Sachs executives to introduce them to an emerging product – one which would have threatened Defendants’ dominance of the stock loan market – the Goldman executives were frank: if they were to allow a central trading platform with counterparty clearing, it would encourage other competitors to enter the stock lending market. “I ain’t supporting this,” said Goldman Sachs Managing Director William Conley. “You ain’t going to get this done,” echoed Brad Levy, then Global Head of Goldman Sachs’ Principal Strategic Investments Group. Stock lending involves the temporary transfer of a stock from one investor to another, typically from large institutional investors who hold large amounts of publicly-traded securities (pension funds, mutual funds, university endowments, etc.) to entities who want to sell stock short. It is a common practice that helps both the borrowers and lenders of stock generate additional income in their portfolios. The stock loan market has not kept pace with the technological progress that has improved other financial markets. Stock lending remains an opaque, over-the-counter (OTC) trading market in which there is no central marketplace for stock borrowers and lenders to trade directly with one another or see real-time pricing that could help secure better financial terms. Instead, stock lenders and borrowers must transact through intermediaries, also known as “prime brokers,” who take a massive cut of nearly every stock loan transaction. The six investment banks named in today’s lawsuit are the dominant prime brokers in the U.S., effectively controlling the stock loan market and gobbling up approximately 60 percent of the revenues. This suit alleges that, in order to protect their profits, these large investment banks have been conspiring since at least 2009 through a company called EquiLend, which they control, to prevent participants from accessing marketplaces where they could benefit from direct, all-to-all trading and thereby secure themselves the best prices. (All-to-all trading means that stock lenders can offer a stock to every other stock borrower in the market and select the best price.) Denying others this level of access forces trades in the market to go through their prime brokers, which is how the banks are able to reap tremendous financial benefit. In 2016, for example, these six institutions skimmed approximately 60 percent of the $9.15 billion in stock lending revenue alone, despite performing a service for which they bear virtually no risk. Any other arrangement would have substantially reduced the need for their services, and the premiums that they charge would have been untenable. The coordinated effort by the prime brokers to stymie their competition in the stock lending market took numerous forms. After boycotting securities lending participants who participated on other platforms —AQS in the U.S. and SL-x in Europe—the banks either purchased the intellectual property underlying those exchanges (SL-x) or the exchange itself (AQS), effectively shelving the efforts to improve stock lending for investors. The purchase of AQS by bank-controlled EquiLend, which the last piece of the conspiratorial puzzle as it gave Defendants complete control over all gateways to central clearing in the U.S., even had a secret code name at Morgan Stanley – Project Gateway.” https://www.cohenmilstein.com/case-study/stock-loan-antitrust-litigation It really is a fascinating case and rings all sorts of alarm bells in my mind. Collusion? Antitrust? Monopolisation? Competition law? These banks are literally running the show, boycotting and driving competition into the ground before buying up their tech and IP. Skimming huge profits from the stock lending (60% reported at the time of this case in a $1.7trillion lending market), - d rehypothecating securities possibly over and over and over again. Dude, why the fuck can this be allowed to happen? My only answer can be it’s the power that they own, the money they move that can pay anyone off and put governments and federal reserves in their back pocket. I advise you to read the class action linked here - https://www.cohenmilstein.com/sites/default/files/2017-11-17%20Amended%20Complaint%20dckt%2073_0.pdf The language used and the detail is actually quite shocking. Whistleblowers have come out and spoke. In the case that these banks call themselves the ’five families’, likening themselves to a mafia style operation: “Remarkably, in numerous private conversations, multiple personnel from the Prime Broker Defendants used the same phrasing to describe the stock loan operations of the Prime Broker Defendants collectively. Specifically, these personnel characterized the Prime Broker Defendants as “the five families” of the stock loan market—a reference to the five major New York City organized crimes families of the Italian American Mafia. For example, during a February 26, 2013 meeting with SL-x executives, one Credit Suisse director who was also an EquiLend board member explained that EquiLend was like “the mafia run by five crime families,” and proceeded to explain that, as a result, nothing would happen in the market with regard to SL-x’s platform unless the Prime Broker Defendants jointly allowed it to happen.” “On April 10, 2014, Credit Suisse managing director Shawn Sullivan recommended “get[ting] all the members of the five families together” to discuss AQS and related stock loan issues that had emerged in the wake of a recent regulatory development. On another occasion, the head of securities lending at Bank of America similarly expressed an intent to convene a meeting of “the five families.” The fact that multiple Prime Broker Defendants used the same mafia reference to describe themselves collectively shows that they knew they had formed an illegal cartel. Indeed, it indicates they were proud of it.” Yeah that’s right, our ‘trusted’ banks are no better than a crime gang, monopolising and manipulating the market because they’re ‘too big to fail’ I won’t cite the case anymore. It’s 144 pages of gold dust that you should all have a look through it you’re interested. But was enough for me to add another piece to this saga of the corrupt system we are living in. But now we’re all learning about it and the fucks won’t get away with it for much longer. GGensler is coming in and I have faith that he’ll bring about some reformation, it seems that’s already begun. This whole thing ties to the volume of dark pool and OTC trading we’re seeing that’s growing in recent years. That’s routing trades unfairly and enabling MMs to manipulate and move markets, whilst Main Street bends over and gets fucked. And what’s more, we know the treasury market is fucked right? Well guess what? https://www.pionline.com/ja/node/520076 “EquiLend adds Treasuries to lending portfolio” in 2005. So these mafia cocks are fucking it all up, pissing on our pensions and education and welfare, all for profit and control. And apparently the case against them has been dropped… hmmm (see links at the footer) Now if this ain’t cause for a revolution then I don’t know what is… Quite a lot of info here guys, and I’ve more to add and will be adding when I have time to further this research. I welcome others to get in touch and add or share comments and feedback. Please share this with your comrades. Education and exposure is everything. You can get me on Twitter too ‘@PieceFriendly’ that I’ve just set up and where I’ll try and post interesting updates as we change the fucking world. The system needs to change. We are the catalyst. Buy and hold. See you on the moon 🌙 🚀🦍🤲🏼💎 TLDR: the stock and treasury lending market is being run by a ‘mafia’ collective of big banks (no surprises who they are), who are controlling, monopolising and manipulating the market. This post details my own views based on research that I’ve carried out and information I’ve gathered. None of this is financial advice. EDIT 1: the downvoters are out! Please don’t let them win. The sources of information presented in this post are real and are out there for you all to see. EDIT 2: this started off with so much traction in the first hour, but seems to be dying big time. Are people able to bury this post or something, so no one can see it? https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUSKCN1M72XG https://www.securitiesfinancetimes.com/securitieslendingnews/regulationarticle.php?article_id=223277&navigationaction=regulationnews&newssection=regulation https://finadium.com/judge-dismisses-qs-holdco-lawsuit-against-prime-brokers-based-on-claim-ownership/ https://finopsinfo.com/trading/equilend-prime-brokers-sued-collusion-or-fair-game/ https://www.globalcustodian.com/securities-lending-lawsuit-wall-street-banks-dropped/

Superstonk

This whole situation infuriates me to no end. Retail is going to come out on top of this so what is the elite’s response? “We’d rather crash the market than let them get ahead a bit.” Fuck these guys so much! I will hold until my fingers can’t open anymore to hit the sell button just so I can see ALL these guys bankrupt. This world is insane.

ymg5a1

Is less than 5% of homes sold at low prices enough to panic the residential property market?

TL;DR - you only really need a small number of distressed sales, or homes sold at a loss to substantially move the market. Once the decreases keep sliding, and interest rates keep rising - confidence in the market will be shot. This property correction is shaping up to be more severe than most predictions - simply by the sheer pace of what’s happening. ​ **The RBA stated that just under 3% of mortgages were in negative equity** * “Some private surveys estimate closer to [10 per cent of mortgage holders](https://www.rba.gov.au/publications/fsr/2019/apr/box-b.html) are in negative equity. However, these surveys are likely to be an overestimate for a number of reasons; for instance, by not accounting for offset account balances.” * Granted, this was early 2019 and we’ve seen a huge jump in prices since then, likely easing the proportion of homes in negative equity * With a sliding property market at the moment, it may be reasonable to assume that the proportion in negative equity will only increase ​ **Proportion of the market that’s mortgaged** * It’s often cited that only 35% of the housing market has a mortgage attached, however when accounting for investment properties (alternatively ‘rented homes’), this is likely closer to 50% of all homes (although cannot seem to find the stat here. ABS has it broken down in the [TEND section](https://www.abs.gov.au/census/guide-census-data/census-dictionary/2021/variables-topic/housing/tenure-and-landlord-type-tenlld) of the Census data) * So in effect, of the 10.87m homes in Australia, we could safely assume 5m are mortgaged ​ **Proportion of homes sold in 2020 & 2021** * According to [CoreLogic](https://www.corelogic.com.au/news-research/news/archive/housing-turnover-reaches-the-highest-level-in-nearly-12-years), 598,000 homes were sold in 2021 (5.5% of all homes) and around 420,000 in 2020 (3.9%). * All it took was around 9.4% of homes being sold and bought over 2 years for the market to jump >20% ​ **How many homes need to be sold to bring down the market >20%?** * Let’s say we have a 0.25% rise in December and a (conservative) 0.25% rise in February, we’re looking at an OCR of 3.35% in the new year. * With banks tending to be around 2% above the cash rate, we could see fixed loans ceasing and jumping to 5.2% - 5.6% in February * CBA alone had [38% of all home loans fixed](https://www.savings.com.au/news/cba-half-year-2022-results) at the end of 2021 and will see a further $89bn unwind in 2023 * For arguments sake - ignoring the fact that property prices are sliding - just the increase in mortgage rates, higher cost of living and soaring energy prices alone should be enough to stress perhaps 5% of the market into selling out. * As we saw above, all it takes is 5% of the property market to be sold per year (either at a premium or at subdued value) to swing declines across the board The table shows 2 scenarios, a couple purchasing at $1m and a couple purchasing at $1.6m. Both are stressed, but Scenario 2 will likely hit real trouble if rates hit the 6% mark. I know it’s anecdotal, but I know of numerous cases of Scenario 2 in Sydney (although it’s more like $160k wage and $100k for partner 2 - albeit with a $2m house). Again, with rising bills and groceries on top of mortgage stress - it’s only going to take a handful of panic sales per suburb per month to generally spook the market and result in significant falls across the board. Genuine buyers will probably wait it out - after all, cash is earning 4% in the bank now. ​ Would love your thoughts Ausfinance https://preview.redd.it/1ndr1s7j91y91.png?width=620&format=png&auto=webp&s=215565a631b5afa363094d7d9f35353b0153af33

AusFinance

The only question I have moving forward and could be the only thing propping up major price falls is where else are people going to live? There's such a massive rental shortage that if you sold and then go and try to rent how are you going to be feasibly better off?

q2g631

Can anyone recommend a good job interview coach?

Hey guys, Looking for a good job interview coach, preferably Sydney based. I have been looking for a new job in banking/consulting/finance for the past 9 months and the strength of my CV gets me interviews but I can't get an offer. After 15 or 20 interviews I of course know it's me. So I want to work on this and learn how to interview better Thanks

AusFinance

Are you in a relationship? The reason I ask is because the same techniques used in dating are useful in job interviews. Small talk, thinking on your feet, dealing with subject changes, speaking to new people and situations, being charismatic are all useful skills you can hone in dating to use in job interviews.

iol8bh

Why does Australia get into debt with banks? Why can’t we just print more money?

I know it’s stupid and I understand inflation etc but why can’t we just cancel inflation? I know it’s basic white girl logic but I’m curious. Can someone please explain how we get into debt, why we owe banks, and why we can’t just cancel our debts? I know I’m gonna cop a lot of hate for this but I want to learn. Thank you

AusFinance

The central banks (most anyway) don't have the authority to straight out 'print' money. They can purchase government debt in the form of bonds and place them on the reserve balance sheet. This artificially lowers interest rates and increase bank reserve balances. Bank reserves are not exactly money, commercial banks hold accounts with central banks allowing them to hold bank reserves. They can use these bank reserves as collateral to lend to consumers. Commercial bank lending is in effect 'printing', as credit is created out of 'thin air'. TLDR; central banks make borrowing cheaper so commercial banks lend more -> more credit created. You are talking about monetizing the debt straight up, which is being talked about somewhat. But it is still technically illegal for most central banks, i.e. for them to directly purchase assets with money injected into the actual economy (not into bank reserves). Note however, with some central banks purchasing private and junk bonds, the lines are already getting blurred on what is legal and what is not. Arguments against this are the obvious one of inflation, and further wealth divide as inflation seems to be going straight into assets. Typed this out quickly so it may not make complete sense haha.. hope it helps edit: In reference to your inflation remark, inflation at some point becomes the publics confidence in the currency. You can't simply cancel peoples falling confidence in the currency.

r4ljsu

Worth it to lock down fixed interest rate for 5 years?

Hey all, I'm buying a property for the first time, and my broker has asked me how long I want to lock in my fixed interest rate (assuming principal and interest). He's given me 3 choices: \#1Fixed term: 2 years. Loan term: 30 years. Repayments: Initial 2.69% - after 24 months, 4.27%. \#2Fixed term: 3 years. Loan term: 30 years. Repayments: Initial 3.11% - after 36 months, 4.27%.Total saving (compared to #1): $16,030.38 \#3.Fixed term: 5 years. Loan term: 30 years. Repayments: Initial 3.19% - after 60 months, 4.27%. Total saving (compared to #1): $27,889.98 The savings are based on the assumption that I continue with the loan as contracted and don't refinance. Obviously at first glance, option #3 seems to be my best long term choice - but does everyone think that interest rates will be higher than 3.19% in 5 years? Is there anything else I need to consider, or does everyone think option #3 is a no-brainer? Since we don't knw what interest rates are going to be like in the next 2-5 years, I'm not sure if it's worth me getting the 5 year option, or if I should just accept the 2 year fixed term. The reason I ask is because everyone's talking about hyperinflation and I'm concerned that interest rates are going to steadily increase over the next decade to avoid a collapse in the property market. What would you do? ​ Thanks for any advice.

AusFinance

We literally JUST fixed for 2.79% for five years with Suncorp (brokered). Shop around a bit. Also dont measure interest rates against where they will be in 5 years. Measure them against the estimated average you think youll be paying across the 5 year period. Personally, I chose to fix as the downside potential is very low (might cost us say $5k a year worst case) vs the upside potential which could end up costing us $20k+ a year if rates go ballistic. I consider interest rates moving and staying above say 3% within the next couple of years to be lowish but certainly extremely feasible. I also dont believe 5%+ to be totally remote. So why not risk manage it?

66iaq4

For those that retired, does your actual spending equal what you planned?

For those that retired, are you now spending the same amount of $ you expected to spend per year? Could you have retired earlier? I am guessing some people had unexpected health insurance expenses, others ended up saving more money than expected by having time to cook for themselves or not having to spend gas $ on commuting.

financialindependence

I have been FIREd for close to 5 years. As I [wrote a while back](https://www.reddit.com/r/financialindependence/comments/3v0fvl/postfire_thoughts_looking_back_at_my_prefire/): > Pre-FIRE I was somewhat concerned that my spending patterns may change in retirement. I didn't think it was likely because I had maintained essentially the same lifestyle that I expected to have in retirement during the pre-retirement phase. However, I was still worried that something major may come up. 3+ years into FIRE everything is going according to the plan. Of course, I have unexpected expenses now and then, but they all fall into well-understood categories.

snfbz8

Listen to what the youth are talking about and you will see the future.

Here for round 2 of why being a high school teacher has been an 'ear to the floor' revelation for me. Having taught in schools for nearly 5 years you can get a sense about what is important to kids. *Facebook is not cool* = Subsequent rebranding and losing relevance *Tik tok very cool* = tik tok becoming the leading social platform for 12 - 45 yr olds. *The US Office is better than the UK Office* = US office now the only one streaming on Aus Netflix. I must confess, 5 years ago I didn't hear any of the above. Facebook was (somehow) cool, tik tok didn't exist and there was stiff competition for which Office series was better. Fast forward to today.. I'm teaching my Yr 9 commerce class and they ask **"sir which crypto do you recommend buying?".** Students no longer laugh on this topic, even 3 years ago they might have switched off. But not now. they are increasingly involved in crypto and are investing in it themselves. This is because it is both relevant and achievable for them to do so. I'm telling you listen to what the youth is talking about; they are INTO crypto and that makes me bullish af.

CryptoCurrency

5th grade teacher here. At least once a weak I hear my students engaged in talks about crypto. I usually just listen and smile. Every now and then I'll engage and ask questions to see what they know. A lot of times I'm very surprised by how much they know about the current prices, nft trends, and the general sentiment of crypto. A few know about crypto from their parent, some know from celebrities they follow on social media, and some don't know how or why they know about it. It's just cool to see people so young have ideas a questions about it.

mohcbn

Took Profits

I just did what I thought I wouldn't. I took profits. I did it for my own well being and the fact that now I can afford a Nintendo Switch for my Kids (and me). I want to thank this community because I wouldn't be sane elsewise and if the whole crypto -sphere crashes, at least I got a switch. (It won't it will only rise to punish me for selling to early) Here's to a better tomorrow and green candles

CryptoCurrency

Everyone has their own targets and their own definition of wealth. Enjoy the Switch with your kids and DCA back in over time if you still want to stay in crypto over a longer period. My follow up questions are, what game(s) did you get and what crypto did you keep (if any)?

txsyfo

Janet Yellen was preaching last year about how BTC is "extremely inefficient" and is used "often for illicit finance". And now that banks are buying crypto she goes "there are benefits from crypto and we recognize that the innovation in the payment system can be a healthy thing"

Janet Yellen the US Treasury Secretary started bashing on crypto from all the way [back in 2018](https://www.coindesk.com/markets/2018/10/30/former-fed-chair-janet-yellen-is-not-a-fan-of-bitcoin/) when she said > "I will just say outright I am not a fan, and let me tell you why...very few transactions are actually handled by bitcoin, and many of those do take place on bitcoin are illegal, illicit transactions" [Fast forward to 2021](https://markets.businessinsider.com/currencies/news/janet-yellen-bitcoin-is-an-extremely-inefficient-way-to-transact-2021-2-1030109052) and she is all about the inefficiencies of cryptos and how they are used for illicit transactions. The whole criminals and terrorists use crypto narrative. > "To the extent it is used, I fear it's often for illicit finance" [And now](https://news.bitcoin.com/janet-yellen-admits-crypto-has-benefits-treasury-working-on-crypto-regulation/) that all the big banks have started buying up crypto all of a sudden according to dear Janet >"Crypto has obviously grown by leaps and bounds and it’s now playing a significant role" >"There are benefits from crypto and we recognize that the innovation in the payment system can be a healthy thing" What a surprise that the government employee's tone on crypto changes once the people with the money are starting to use it to make more money! ####Edit: thank you for the dissenting opinions people. The more civil disagreements we can have, the less of an echo chamber we become Im not mad that Yellen has changed her opinion. Im annoyed because she is a manipulative liar. She has been trying to harm crypto for years by spreading lies about how crypto is used to commit crimes far in excess of cash. And now she claims her opinion has changed because crypto has grown by "leaps and bounds". Yet nothing that significant has changed in the crypto industry since she was calling crypto a criminal's tool just last year. Only thing to have changed is that big banks are now full on dealing in crypto. She hasnt changed her opinion because she has suddenly seen the light or because crypto has evolved greatly over the last 1 year. Those are her lies. Her PUBLIC stance has changed because now that benefits her and those who give her power.

CryptoCurrency

I mean in 2018 bitcoin was literally being manipulated in price heavily by very few people there's literally studies on it. However any non privacy coin is just dumb to use for crime you WILL get caught or not be able to cash out.

3xu1sk

PSA: No, the market didn't drop 8% in one day (Or, how mutual fund distributions work).

[Several](https://redd.it/3xt52t) [recent](https://redd.it/3xrvvr) [posts](https://redd.it/3xl5af) indicate there's still widespread confusion over mutual fund distributions. In short, and keeping this very high level, mutual funds are required to return capital gains and dividends to the investors of the fund. Mutual funds accumulate capital gains when they have to sell holdings to maintain whatever asset allocation they are aiming for. Dividends are accumulated when the underlying holdings issue dividends. **When a mutual fund makes a distribution, the share price will always drop by the amount of the distribution. You have not lost any money.** If you've set your accounts to reinvest the distributions, your broker will automatically purchase more shares of the same fund. The alternative is to have the distributions go into a cash substitute (or sometimes as cash, depending on what type of account you're dealing with) for reinvestment later on. Many funds are distributing dividends and capital gains between now and the end of the year. If you're the type that frequently monitors your accounts (not a good habit), you owe it to yourself to not panic if/when you see a big drop in the share price unless you've checked that fund's distribution history.

personalfinance

Also, Mutual Funds (in the US) are required to provide estimates of when and how much they plan to pay (distributions and capital gains) starting around the end of October. For example: https://personal.vanguard.com/us/insights/article/preliminary-capital-gains-112015 So you can check and not be surprised as much when a big distribution or capital gain happens.

nc8v3p

Should I Create a list of possible custodian plays before they happen?

Custodianship plays have been on fire for over the last month ever since George Sharp had created a life changing multi bagger ($HMBL) . George Sharp files for rights to a delinquent stock ticker that has low outstanding shares and a decent float to the stock. When GS takes over the rights to the stock he then looks for promising companies that are willing to undergo a reverse merger to become actively traded on the stock market. I was wondering if anyone would like me to create a list of possible OTC stocks that are delinquent, with characteristics of, decent float , low outstanding shares , and behind on their filings. Edit: This might take a few days to gather info and all of the tickers that apply to the characteristics.

pennystocks

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7jrqf5

It just cost me $14 in fees, to send $20 in BTC to a charity from Coinbase. FFS Seriously?

Is this for real? I just wanted to send $20 to a charity so I did it from coinbase. Only after I sent did I notice it was $34 in totall, I checked the transaction it it confirmed $14 in fees. This in Insane! Why is this, is this normal?

CryptoCurrency

I converted 10€ worth of BTC to LTC the other day, and I was charged extra ~10€ worth on transaction fees. I only had extra 100€ to invest in crypto, and that extra 10€ is a huge hit in my case. I should've bought LTC and other crypto from Litebit.eu or something. It sucks.

v2kb9t

UST How I lost $1M because of Kucoin's manipulation

*Disclaimer: English is not my first language.* * *June 1st : Initial post* * *June 2nd : Johnny, from Kucoin, answered* * *June 8th : Complaint has been submitted to AMF (french authorities)* * *June 10th : I answered Johnny (from Kucoin), to disprove his lies about Kucoin’s actions* * *June 20th : I made public thread on twitter. Please help to like and share it <3* [*https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW\_PoplnDxwpLTXaA*](https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW_PoplnDxwpLTXaA) **At the beginning of May 2022, investors in Anchor protocol panicked and withdrew their funds ($15B) during a bank run. UST (Terra stable coin) unpegged. The Terra ecosystem collapsed. 50 billion has been lost (1). Some investors are devastated, some are ruined, some of them even committed suicide.** **Meanwhile, Kucoin exchange platform has manipulated the UST market to earn more than 33 million dollars and have impoverished their own clients.** **I will detail in this post how Kucoin took advantage of the Terra crisis to manipulate the market in its own benefit--how hundreds of Kucoin clients have lost funds and how I personally lost 540,184$ because of their market manipulation.** I will detail, as well, how Kucoin lied and hid what they were doing and how they banned dozens of customers on their Telegram customer service as soon as some of them published proof of Kucoin's market manipulation. For information, Kucoin is one of the biggest crypto exchange platform. Kucoin raised $150M from Jump Crypto with Circle Ventures, IDG Capital and Matrix Partners and has been founded by Michael Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhu, and Linda Lin. ​ \*\*\*\* **Initial situation: I stacked my savings resulted from my professional activity on Anchor, and UST started to unpeg** December 2021, I decided to invest all of my assets in Anchor Protocol (that was obviously a big mistake). Almost 2 million us dollars I have made in 10 years of hard work with my web marketing company. I thought Anchor was solid, and UST would never unpeg for more than few hours. All of my assets were held through Anchor. On 8th May 2022, Anchor protocol investors started to considerably withdraw their funds. I withdrew 1,949,390UST and deposited them on my two Kucoin accounts. I made an order to exchange all my UST for USDT at $1 (that was probably my biggest mistake. That price would never have been reached). On 9th may, for the first time, UST unpegged dramatically down to $0,76. On 10th may, Terra decided to burn $1,5M in BTC to support UST. UST touched $0,93 before going back to $0,73. On 11th may, 11h00(UTC) UST went down drastically to $0,30. At this moment, after reading everything about Terra's situation, I made my opinion : Terra was about to collapse. The panic was too high. UST would never reach $1 again. I made calculations. By selling all my UST at $0,84, I would "only" lose my previous profits thanks to the protocol. I thought it was the price to pay to be sure not to lose 10 years of personal savings. I placed 15 orders to sell around $0,84 on my Kucoin main account waiting to see how the market would react. ​ [My orders on Kucoin to try to sell my UST around $0,84](https://preview.redd.it/6l34rie881391.png?width=1105&format=png&auto=webp&s=f5770e238a38941ea075f4a0e98ea83175c968ad) [My orders on Kucoin to try to sell my UST around $0,84](https://preview.redd.it/hy0g8aa981391.png?width=1100&format=png&auto=webp&s=96799146c180a4e45989487902c96219bd8bf7a3) [My orders on Kucoin to try to sell my UST around $0,84](https://preview.redd.it/ktmeqi1a81391.png?width=1105&format=png&auto=webp&s=03370b6311c879afb49482d7ccffc963c46ae252) ​ \*\*\*\* **Kucoin decided to lock UST withdrawals to manipulate the market** On 11th may, 11h19, Kucoin decided to close UST withdrawals (2). They were arguing some fake congestion problems on the blockchain. ​ [Kucoin locked UST & LUNA Withdrawals](https://preview.redd.it/ktivxyuh81391.jpg?width=603&format=pjpg&auto=webp&s=6ec0b2718d4bcd7457ef0bedf0cbdf13dbe86344) Inevitably, the UST price deviated from the global market price. The UST was at that time trading 30% below the price of all other platforms (Kraken, Binance, Huobi, Coinbase, FTX, Gate.io...). On 11th may, 20h00, UST reached my target price of $0,84 across all competitors, including Kraken. By comparison, the price was $0,59 on Kucoin. At that moment, I had the strong will to sell all of my UST for $0,84 and end this nightmare. With 1,949,390UST I was supposed to save 1,637,487USDT. (If I took the decision to deposit my UST on Kraken instead of K#####!) ​ [UST reached $0,8490 on Kraken \(and barely $0,60 on Kucoin\)](https://preview.redd.it/m066h4yi81391.png?width=1048&format=png&auto=webp&s=9e3d2b7d94548a636cf119877368e8eb70d1b327) I contacted Kucoin customer service on Telegram and I realized that hundreds people were complaining for the same exact reason. Many of them, publishing proof that Kucoin was making arbitration, were kicked and banned from the chat (I will detail everything about it later in this post). On 11th may, 21h58, I sent a message to Kucoin support : ​ [I sent a ticket to Kucoin support that never answers](https://preview.redd.it/ehqj1krs39391.jpg?width=757&format=pjpg&auto=webp&s=7e23dbe75ec8baeca71ba3dfc4413d9c3435ad74) On 11th may, 22:24, Kucoin finally unlocked UST withdrawals. But it was too late. UST had already fallen sharply to $0,65 (and would very soon fall to $0,20). On 11th may, from 22:27 to 22:39, I withdrew all my UST to Kraken. On 11th may, from 22:40 to 02:05 (D+1), I exchanged my 1,949,390UST for 1,097,303USDT for an average price of $0,56. I lost (1637487-1097303)= $540,184 because of Kucoin’s manipulation. ​ \*\*\*\* **Kucoin made arbitrations for 11 hours** There is no doubt that Kucoin had willingly locked the UST withdrawal to make arbitration on the market and cash in the 30% difference between the UST’s value on the Kucoin platform versus their fair market value. And they did exactly the same with LUNA (LUNC now). ​ [Many posts on Twitter complained about Kucoin manipulation](https://preview.redd.it/nbuyhugo81391.png?width=594&format=png&auto=webp&s=b04f135c42f12678cb7b8bd1a327a090cd3d15a9) By locking UST withdrawals, Kucoin created for itself an incredibly profitable situation. Kucoin bought UST 30% below the price on their own platform. And then sold them to the real price, 30% higher, on any other platforms. After this, they just needed to loop and repeat the exact same operation. This, during 11 hours. Let's prove it as everything is public on the blockchain : On 8th may, my main Terra wallet made the deposit of 1,715,000UST on Kucoin Terra wallet : terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw (3) This same wallet, terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw, owned by Kucoin, made 13 withdrawals DURING the supposed "congestion" for a substantial total of 112,436,410UST (4) Cashing in the 30% difference with other platforms. **So Kucoin made approximately $33,730,923 of profit by manipulating the market and making arbitration.** All arbitration operations are tracked and available on the blockchain (detailed calculations are available in the sources at the bottom of this post) : [https://finder.terra.money/mainnet/address/terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw](https://finder.terra.money/mainnet/address/terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw) ​ \*\*\*\* **Kucoin lied and hid what they were doing** They consistently kicked and banned every customer that brought evidence of their arbitration operations on the customer service on Telegram. ​ [Kucoin Telegram admin banned \\"disturbing customers\\"](https://preview.redd.it/srdzdgwp81391.png?width=595&format=png&auto=webp&s=bacb0594c642406b8a2376c9d1532adcfc8853f9) Customer service never stopped to argue that the platform was under maintenance. This could have been true if they didn't, themselves, make 13 withdrawals during this time. It seems that this is part of Kucoin's business plan as they wrote in their terms of conditions: "Kucoin may agree (but is not obligated to) your request to transfer funds" (5). ​ [Kucoin is not obligated to transfer your funds regarding terms of agreement](https://preview.redd.it/gbe9aj0u81391.png?width=940&format=png&auto=webp&s=6953aabd3b577be56fa4ef514f378bf7f4603165) Moreover Kucoin seems to have a habit of breaching financial rules and violate customers’ rights. They are already sued by Ontario regulation in Canada (6) Kucoin doesn't even state where the company is domiciled and regulated in their terms of agreement (7) ​ \*\*\*\* **Conclusion** Kucoin manipulated the market for 11 hours against any financial laws and authorities rules. Kucoin cheated to make substantial profits while some of their investors were losing their life savings. They did it. They also did it with Luna (another cryptocurrency from Terra ecosystem). We know they did it, they still are doing it, and they will continue to do it on others cryptocurrencies as well. I think this is our duty, as crypto holders, to spread the word, to make public those acts, to ban those actions, in order to build a better and fairer crypto ecosystem. **If you were also victim of Kucoin's manipulations (UST, Luna or whatever), DM me. You have rights. And we gonna fight against Kucoin through our collective action and the appeal in front of the regulatory an criminal authorities.** ​ ​ ​ *Sources/links* *(1) :* [*https://www.businessinsider.com/terra-ecosystem-luna-ust-stablecoin-collapse-bitcoin-crypto-do-kwon-2022-5*](https://www.businessinsider.com/terra-ecosystem-luna-ust-stablecoin-collapse-bitcoin-crypto-do-kwon-2022-5) *(2) :* [*https://www.kucoin.com/news/en-withdrawal-service-of-mainnet-luna-terra-luna-tokens-temporarily-closed-20220511*](https://www.kucoin.com/news/en-withdrawal-service-of-mainnet-luna-terra-luna-tokens-temporarily-closed-20220511) *(3) :* [*https://finder.terra.money/mainnet/tx/5388DA9C1C11341DCB62AE0D3ABEF77C8B855DF72E11A5A6816CF6F992DB638F*](https://finder.terra.money/mainnet/tx/5388DA9C1C11341DCB62AE0D3ABEF77C8B855DF72E11A5A6816CF6F992DB638F) *(4) :* [*https://docs.google.com/spreadsheets/d/e/2PACX-1vSQaiMKhE6f12WhSdgI8Q6OJn5rIjm3\_vhtDJ-GwdxgP-yqZ2p86MTRscvVfVLm\_yDvRSIN6X5gsv5A/pubhtml*](https://docs.google.com/spreadsheets/d/e/2PACX-1vSQaiMKhE6f12WhSdgI8Q6OJn5rIjm3_vhtDJ-GwdxgP-yqZ2p86MTRscvVfVLm_yDvRSIN6X5gsv5A/pubhtml) *(5) :* [*https://www.kucoin.com/news/en-terms-of-use*](https://www.kucoin.com/news/en-terms-of-use) *(6) :* [*https://forkast.news/headlines/ontario-securities-commission-kucoin-canada-regulation/*](https://forkast.news/headlines/ontario-securities-commission-kucoin-canada-regulation/) *(7) :* [*https://www.reddit.com/r/kucoin/comments/rj37e5/which\_financial\_authority\_regulates\_kucoin/*](https://www.reddit.com/r/kucoin/comments/rj37e5/which_financial_authority_regulates_kucoin/) *(Answer to Johnny\_Kucoin on June 10th with more proofs of arbitration) :* [*https://www.reddit.com/r/CryptoCurrency/comments/v2kb9t/ust\_how\_i\_lost\_1m\_because\_of\_kucoins\_manipulation/ibw98xu/?utm\_source=share&utm\_medium=web2x&context=3*](https://www.reddit.com/r/CryptoCurrency/comments/v2kb9t/ust_how_i_lost_1m_because_of_kucoins_manipulation/ibw98xu/?utm_source=share&utm_medium=web2x&context=3) *Public thread on twitter. Please help me to like it and share it <3* [*https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW\_PoplnDxwpLTXaA*](https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW_PoplnDxwpLTXaA) ​

CryptoCurrency

Sorry for your loss. KuCoin are shady motherfuckers - back in January I think it was when I got liquidated on some LRC, I was sharing my story on here and some other traders got liquidated too but get this: whole market dipped to $1.60 but "somehow" KuCoin dipped its price to under a dollar I think and a whole load of accounts were getting liquidated. Shady as fuck.

x91pb0

Day 97: The DTCC has their own Twitter account. I choose to politely ask them questions every day until I get a public response.

[DTCC Twitter](https://twitter.com/The_DTCC) [Today I ask:](https://twitter.com/Jabarumba/status/1567879804485275648) .@The_DTCC The DRS rate for $GME #GME rising, not slowing over time, shows conclusively that GME retail is not selling. Short ladder attacks, spoofing, equity swaps, single equity ETFs (just a stock with extra steps), all to no effect. When will #DTCC realize MOASS is inevitable?

Superstonk

> First they ignore you. > > Then they make fun of you. > > Then they fight you. > > Then you win. > This account is going to get blocked soon, and after that the MOASS starts.

mkrqk5

The migration likely was a death blow to the planned shill attack

Guessing here, but the plan appeared to be this: 1. Overstate the GME news and call it a massive dilution. 2. Short the stock at the opening. 3. Have shills ready to go at r/GME to keep the panic alive. and instead, the apes saw through the crap and started migrating through the night to here. By the opening, we already had proper DD on why the news announcement is great news for our stonk. Dream team mods join here and the GME sub is a dumpster fire basically drowning out any shill attempt to get negative. The clock has run out for the shills. We bought the dip and will continue to do so. We all know how this ends. Tendies incoming. See everyone on Pluto.

Superstonk

So gme sub has now lifted posting restrictions and fud shills are posting bad and fake dd that isnt getting deleted. Posta coming from new accounts with no karma. I feel like even tho most apes have or are going to move over to this subreddit, r/GME can still be used to instill FUD in potential newcomers over the next few weeks. May be a tactic to ease the pain the hedge funds will find themselves in.

lgebeq

Tips for reading financials of penny stocks?

What are some tips for reading penny stock financials compared to well established companies. They are not going to be showing the same cost to earnings ratios as many are startups. There will be debt, smaller market caps, etc... Mock scenario: I find an industry I'm comfortable in and there are three companies trading at a .10 per share. I decide I don't trust the CEO/product itself/general plan of one so now I'm down to two. I have my safe gains from my ETF and this is just a $10 investment so I don't really want to split it because if the company really takes off then it could change my life but if it goes to 0 I have a pb&j on Friday instead of going out for lunch. What would be the things you look for in their financials to feel more confident in company A over B. Any other red flags or tips are great, poking around some cheap stuff now and following what you guys have been talking about to watch those play out. Then I may decide to put a little money in something new in a month or so.

pennystocks

ickzrz

Is anyone else starting to get shit scared?

(Apologies if double post the filters misunderstood a word) I have to ask... Is anyone else starting to get shit scared? The SPY is officially higher than it was at the peak before the fall. The SPY Growth is almost 10% higher than at the peak before the fall. The DOW is down only around 6% from the all time highs. The S&P 500 is now above all time highs. Even the TSX is only down around 7% from all time highs and the oil sector and other major industries of Canada got decimated.. We are seeing Warren Buffet go into Gold I never thought I would see the day (I know people are gonna do the standard quip but Buffet and Munger are beasts). We are now seeing the trade volume hit all time lows on certain key areas. We still have massive waves from COVID in areas of employment, debt, inflation/deflation, business closure, bankruptcy, massive inequality of savings/wealth. We have certain segments blown up to the point that when I look at the charts I don't even think "bubble" is an accurate term. The charts literally give me cancer they are so intense to look at. I love pa pa elon just like everyone but the fact that this short squeeze has taken us to around 1900 is insane. Guys this is over 100% on top of the short squeeze from last time and they are down this quarter in actual revenue. This may all keep going on for more time than I could ever imagine. Maybe a year or even more but man I am so worried that some people are gonna lose everything when this bursts. For god sakes away from the memes for a second and our fun ass phrases please please be careful that you aren't going over what you can handle if this reverses. We have already seen how some main stocks can go down 60-80% once they start falling in a month and how the whole indexes can fall almost 50% in a month and a half. Guys be careful for real.

wallstreetbets

Warren didn't buy gold he bought ticker symbol GOLD which is a mining company that digs up the gold. He is aware that people are going to panick and start buying gold and this will push GOLD(the mining) up on the stock exchange. It is actually a smart move. Gold itself is only marginally useful... A person can buy gold, mine gold or they can sell the shovels. ​ This is the sell the shovel strategy.

6d2dzu

Have I missed the boat?

Hi all, i've been hearing about Ethereum for a while now and was absolutely kicking myself when earlier in the year, I was looking into buying some when it was 10ish dollars and I now see it has surpassed $200. What I am asking is, do you guys think it is still worth buying Ethereum? I have around $1500 that I can use without having to worry about it. Obviously in February that would have got me a lot so is it even worth buying just 6ish Eth? If it helps with answers, i'm happy to sit on it long term and forget it even exists. I have a gemini account setup and if you guys think it's still worth it then I just need to go to my bank tomorrow to transfer the $1500 into my gemini wallet. Thanks for reading :)

ethtrader

The boat is leaving the dock, but if you run and jump you will still make onto the deck. The big money, multi-millionaire boat probably left the dock somewhere last year. The boat that is currently leaving the dock is the life-changing-big money-but-you'll-still-need-to-keep-your-dayjob boat.

7r2lf7

Why do all the cryptocurrencies follow the same trends?

Noob here. I notice that graphically the peaks and troughs, the main cryptocurrencies follow the same line more or less. I figured that if say ETH was to pass out BTC in value, these graphs would need to be noticeably different.

ethtrader

Because most trading pairs across the exchanges are in BTC and to a lesser extent, ETH. If XYZ token is 0.1 BTC, when BTC moves down, the XYZ to BTC ratio generally stays the same. The value of XYZ is then calculated based on it's BTC ratio, and thus moves down with the BTC price. There are only a handful of tokens that can actually trade against Fiat on the major exchanges. Everything else has a strong tie to those.

60163a

Are we seeing the correction we deserve?

After this crazy run, are we seeing the correction that is duly needed? I mean shit if this thing keeps going down I don't mind, that just means I can buy even more at a lower price, it's a bargain if you ask me. But for things to steadily go up without crashing hard, there usually needs to be some sort of fallbacks down to a support. It seems like our solid support is around 40-45 dollars. Anyone else?

ethtrader

50 USD is a Schelling point for Ether, 1000 USD is a Schelling point for BTC. My guess is they will both break through at around same time, quickening the flippening. The crypto-world is about to change. This is not trading advice.

7kcy0i

Doubled my money - take out initial investment?

Hiya, I bought in a few weeks ago. I dumped 5k (3k into ETH, 2k into LTC) and it's at 10k now. Do you all think it's wise to pull out my initial 5k investment and let the 5k profit do the gains? Or leave the 10k in and go for bigger gains? I have no immediate need for the cash and have a safety net already. I'm leaning more towards leaving it all in, just curious what your opinions/suggestions would be. Thanks!

ethtrader

I took my life savings quintupled it and starting to consider pulling at least that initial investment back... on the other hand, even the initial investment is significant enough to make me solid money if I leave it there and the trend will continue... so I am torn between being reasonably safe and reasonably greedy since I don't really need the money as I have no debt and solid job Also BTC at 20k is kinda scary and I have already been trough couple major dips, hodled like a champ, but my fucking nerves man...

4bvltf

[Daily Discussion] - 25/Mar/2016

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, and minor questions. - Do not create separate posts outside the daily thread which can be identified under the content categories mentioned above. If you do, your post may be removed and/or heavily downvoted. Important content should be posted as a separate thread. - Be excellent to each other. *** Thank you in advance for your participation. Enjoy!

ethtrader

A lot of people around here waiting for it to drop before picking up more. Or rather, waiting for it to *do something* before making a decision. They'll rush to buy at 0.02 just as fast as they'll FOMO back in at 0.031. Funny enough we're just about right in the middle of those two points, and I feel that whichever way we drift will determine the outcome. However, a lot of the "I'll wait to buy when it's lower" goes out the window when it really starts falling. Most people don't catch the bottom and people tend to get out of the way (read: get spooked) rather than stick to their previous plan. Someone saying they want to buy at 0.02 might not if it just flies down there like the plague. This will be interesting, at least. In a comment below someone talked about if this was a P&D. Well, a P&D has a dump, and so far we haven't seen a *dump*. When I say dump, I mean <0.01, 404 buyers not found, suicide hotline on the front page dump. For the sake of ether's reputation I hope that doesn't happen, but *something* tells me the run to 0.037 was only the second of three legs up, otherwise we'd have seen that "blood in the streets omg I'm losing everything" by now, given how hard and fast this ran up (knocks on wood...I don't want to tempt the thing). I've got my sell orders around 0.055 - 0.068.

713zxh

Ledger nano s

I bought a ledger nano s and set it up with myether wallet and it was very easy to set up I just have one question. Let's say myetherwallet the website shut down for some reason would I be able to access my ether or any other coin I have stored on my nano?

ethtrader

Yes, the hardware wallet and myetherwallet are both just ways to control your coins. The coins do not live on the device or the website, they live in the blockchain, and you use these services/devices to access it and move it around using your private key.

5nnqpq

Keep ICONOMI in mind before you invest in another next ICO

Am I the only one that thinks ICONOMI is the only one that knows how to run a $10 million company? (along with ETH foundation). They have a capable team, and their roster is fully loaded. I would like to see them extend their hands (once they are capable) to the other companies who have had a slow start such as Lisk, Augur, Plutus just to name a few. I would like to see blockchain space grow, and I would like to see everyones' investment not go to waste. Lots of ideas, lots of talented devs but a lot of poorly executed ICOs in the past 12 months.

ethtrader

Yep, I think ICONOMI is great. I don't think it's fair to compare them to a decentralized project like Augur - building onchain systems is sooo complex and a completely new field, whereas ICONOMI only had to set up a wallet infrastructure.

nr4hps

$BB | Bullish scenario for Blackberry confirmed | "Anything under 140$ is a dip!" | Next target 25$

🍇 Next chart update for $BB 🍇 Who else picked up some juicy berries? As I already stated with the last chart update - the former 12$ resistance is the make or break area for the bull case which was finally confirmed yesterday. After the shorts won on Friday 28th May, the bulls took over now. Furthermore the **predicted spike above 12$** occured. The huge volume is a very bullish indicator and suggests a further acceleration of the uptrend. The next price target is around 25$. A pullback to the resistance at 12$ is not a bad sign. In most cases a minor correction is a healthy feature of a trend. Adding at this point might be an appealing opportunity for new investors. A stop loss below the support of 12$ reduces the risk and provides a good risk/reward. ​ **Price targets:** \#1 12$ ✅ 28th May \#2 25$ \#3 48$ \#4 🚀🚀🚀 ​ *This is not a financial advice - I am just sharing my opinion. Please do your own due diligence!* [Chart now](https://preview.redd.it/wdgq5g484z271.png?width=1518&format=png&auto=webp&s=204337ba6bd9065713d255c90a309d388f4cb7b9) ​ **Remark:** In my original post I stated that I bought around 10$. I added some more shares on last Friday. [https://www.reddit.com/r/wallstreetbets/comments/nmtcr3/bb\_technical\_analysis\_the\_bottom\_has\_fully\_been/](https://www.reddit.com/r/wallstreetbets/comments/nmtcr3/bb_technical_analysis_the_bottom_has_fully_been/) ​ *"* **$BB | Shorts won on Friday 28th May - next week bulls got a new chance! | 12$ resistance as Make or Break borderline!"** [Chart last Friday](https://preview.redd.it/24nwz4jh4z271.png?width=2158&format=png&auto=webp&s=92f8d9acfc97621637853c32af183882d6efe0db)

wallstreetbets

TLDR, but i saw [a meme about BB](https://www.reddit.com/r/wallstreetbets/comments/nr1za9/the_blacker_the_berry_the_sweeter_the_juice_sound/?utm_medium=android_app&utm_source=share) I'm all in now

w0tn42

How do you manage your yearly expenses after achieving financial independence?

**This question is especially for those who've stopped working for salary, and are truly FIRE, meaning you use your money to make money, and your time is delinked from money making** Is it through stock dividends? or selling stocks periodically? Or rental income? Or something else? And how do you manage your expense budget within your means?

financialindependence

Been retired 9 years and I just started Medicare. First years were paid for in advance with a CD ladder back when they paid interest. That covered the first 5 years, the last 4 have been from selling assets, really as a part of balancing back to the AA. In another 5 years SS kicks in. It covers about 40% of our expenses and the portfolio is needed less. Our withdrawal rate has been all over the place depending on the year and the cost of health care insurance. It's gone from 2% some years to 8% during the pandemic because we were bored. However our assets are larger than 9 years ago.

btnu39

Are index fund returns too low in the upcoming years?

Vanguard last week released its 10-year projected returns. They are predicting 4%-6%. These forecasts are “nominal” returns, meaning they don’t account for inflation. Assuming 2% annual inflation would lower those forecasts by the same amount; for example, equity returns after inflation, or “real” returns, would be 2 to 4% annually. This doesn't seem good at all. Would it be a good time to start looking into alternative investments such as real estate or just keep going with VTSAX?

investing

First, no one can predict future market conditions, they are making a guess. Actual market conditions could be better or worse. Second, there is no implication that other asset classes won't also underperform over the same period. Moving from equities to bonds or real estate could be moving from the frying pan into the fire. Absent concrete evidence that your current investment objectives can be achieved with lower risk elsewhere, switching investment strategies based on speculation is a surefire way to underperform.

1gsgbs

Someone bought 2,000 shares of TSLA at around 100 dollars when every other person around that time bought at 103. How is that possible?

Hello! Not another TSLA post! It's not really a TSLA centric post about their battery swapping tech they launched last night, although it does look pretty sweet. I was looking at the pre-market trading going on this morning and someone bought a bunch of shares at 8:05am for 100.20 when everybody else around that time was buying higher. How did that person get them 3 dollars cheaper?

investing

You have to remember it is an open market, and buyers and sellers can agree to any price they want. What comes across the ticker is just the average of all the orders out there. Here is what may of happened, but this is just speculation on my part: 1. This may have been a transaction between two large firms that executed a block trade. A lot of times a firm that has a lot of shares to move will sell their shares for a lower price in order to sell them all at once. Otherwise they risk driving down the price substantially by selling all the shares on the open market in increments. This opens up a whole other discussion on trading costs and why actively managed mutual funds have a harder time beating the market as they grow in size. These trading costs become larger and larger and thus place more drag on the fund. Index funds dont have this problem because they are almost always buying and are rarely selling. 2. Maybe this was some sort of options deal with the company where an employee executed a stock option at a predetermined price.

f471t

What happens when everything is automated?

I was driving home from work when I wondered how people would live if nearly all jobs were done by robots and computers. Manufacturing has become pretty heavily automated, and even service jobs are becoming automated. If robots did all the work, would money be worth anything?

Economics

I wonder about this too. The robots are still hopelessly stupid, and extremely inarticulate in a great many ways, and usually lack the multifunction necessary for 'odd jobs' but I think these problems are solvable, I'd give it 30 years before the systems are capable of replacing a lot of those 'difficult for robots' jobs. Then there will be a few decades of time as these systems become more widespread, and better, and robots would probably be fixing robots somewhere in this time-frame. Perhaps a cheap source of power comes out, and robot mining becomes the norm. And then what of us? What happens when people become increasingly obsolete? What happens when goods are produced but the necessity to work for them is eliminated? Our economic systems have no way to factor this in coherently. You have to earn your way... but what if there was nothing to do? I imagine that people will get base level credit which can buy some degree of stuff, and anything more must be earned. Many jobs will be kept by humans just for that 'artisan hand crafted' quality, and because robot servers can never be genuine. After all we with modern day vending machine technology and ebay and your iphone/internet for product information we could probably eliminate much of retail right now, but we still like stores with salespeople. We will have more writers and artists which will appear like useless fluff after a while. Humans have a real hard time dealing with 'uselessness'. This tends to turn on our more suicidal genes, or our reactive fight for no reason tenancies, or just depress us into a couch funk. This could cause a serious issue if much of us are made obsolete. We may start killing each other just for the hell of it. It is not natural for so many useless things to exist. Anyways its a good question. There is that old adage where a complex new automated factory that destroyed a bunch of jobs will still need crews to repair and make the robots and everything balances out. I don't think this will be true forever, at some point the balancing out stops happening as even the automating becomes automated. And as I mentioned economies and our civilizations simply aren't geared for that kind of reality. So either good planning will facilitate a very large change, or no planning will facilitate a catastrophe.

4at8vx

/r/economics open discussion thread

Welcome to the open discussion thread. This space is reserved for open discussion or questions on research and news on economics. Talk about economics among yourselves.

Economics

###On Outsourcing: My Analysis If there was a pledge every economist was required to make, it would be "I understand the Principle of Comparative Advantage" and "I advocate for Free Trade". While the former is an easy one, why is the latter so controversial? It's simple - the controversy is so rarely carried out by economists but instead by politicians and the masses. True, you might go on the internet and find a plethora of arguments by "economists" (and I use that term very liberally here) against free trade, but that is much more akin to [this](https://thetimchannel.files.wordpress.com/2010/03/kkk.jpg) than any real economic assertion. The fact of the matter is, protectionism is impossible to defend both empirically and mathematically, because it is simply **wrong**, it inhibits economic growth and stymies development. The main argument set forth by a common person is "Outsourcing is bad, wah wah, we need to stop this, wah wah, China, wah wah". And while these are valid complaints, the phenomenon of outsourcing is genuinely beneficial to the economy when considering the alternative. The media has brought much attention to the "alarming" rate of outsourcing, a very astute observation for a child but not one of merit for any economically literate individual, and here, I will explain the power of outsourcing as a force for marginal good, and the extremely negative results of preventing it. --------------------------------------------------------------------------------------------------- The [H-O Model](https://upload.wikimedia.org/wikipedia/commons/7/74/Heckscher-Ohlin_4.svg) describes the trade choices two regions (A and B) will make relative to their factor endowments, that is, available land, labor, capital, and entrepreneurship for the region to manipulate. Now, if one country were to work at its Production-Possibility Frontier (PPF), which is totally impossible in and of itself, the cost/price of the capital intensive good would be higher in Region A than in Region B, and the cost/price of the labor intensive good would be higher in Region B than in Region A. Both these values are at A^A for Region A and A^B for Region B, the base meaning "Autarky" (Autonomy). The issue with this is clear, Region A has something Region B wants and vice versa, so for this reason, when trade freedom permits, the two countries trade with each other to bring the most positive economic conclusion. But in order to close the maximum value and reputability for the trading exchange (after all, the point of trade is maximum value), a firm outsources its labor-intensive work to the labor-intensive region. What does this mean? Jobs are lost, but they come back in revenue that, if properly reinvested, drastically serve to create a business friendly environment here in the United States. How? More Capital only increases the Capital Factor Endowment of the Region being endowed, which means there is more money to percolate into small business, banks and welfare programs. Positive Capital Endowment also means that the United States will partake in the Heckscher-Ohlin phenomenon that is "specialization", that is, focusing resources on industries that provide the most beneficial output for the divider, which, in our case, are capital intensive industries like Sciences and Technology, Aerospace Engineering, Services, Finance and Business Management, Administration, etc. That doesn't mean we will lose manufacturing entirely, but it will become an increasingly small share in our economy simply because we have transcended that stage and are in a position where capital-intensity is the most beneficial to the economy. Now, what happens if we oppose outsourcing? Well, there are several definite conclusions. Firstly, we would be at A^B or somewhere on that line, which means that our industries are less profitable than would be under a free trade environment. Now, that might sound like it's "only bad for the bourgeois", but that couldn't be further from the truth. The cycle of depression lite^TM happens - in which prices increase (because costs of production are higher), demand decreases in proportion to the market's elasticity, so that means wages and employment decrease to offset demand decreases, and then lost capital by unemployed (or low-paid) workers further decreases demand, thereby repeating the cycle. Now, of course the whole positive value of outsourcing has **one fatal flaw, politics**. In order for the capital value of outsourcing to reach its most beneficial height, the institutions in place must properly utilize the capital returned for positive investment - yet factors such as lobbyists (afraid of new competition by smarter small business) and and a horrible tax code (that leaves too many loopholes for multinational corporations) have offset the positive effects of outsourcing. So what solutions do we have to properly meet equilibrium? The two things I previously stated - lobbyists and the tax code - must be fixed. Lobbyists, of course, aim to ensure that their business succeeds - and what's more detrimental to a big corporation than a family owned business taking away its customers in Kansas City? It assaults the most integral value of economics, demand. In that goal, politicians too often accept the demands of lobbyists in improperly investing the proceeds into the industries that need them most - America's specializations. Only recently did the STEM movement begin to take off, which is an example of politicians finally waking up to the realities of specialization and what fields are most important in the economic development of the United States. The second factor is the Tax Code, which doesn't properly levy taxes due to the fact that it is too long, riddled with inconsistencies, and full of defunct and outdated information. To fix that would be a major step in the ultimate economic success of the United States internationally, as it is multinationals that most narrowly benefit from improper taxation. -------------------------------------------------------------------------------------------------- Conclusively, outsourcing isn't necessarily a bad thing, if properly employed (get the joke - employed, outsourcing - _huuh?_) to ensure the maximum return, because when you aren't properly employing free trade, you're defeating the overall purpose of free trade, the maximum return. Not only that, but the Cycle of Depression Lite^TM takes over to destroy business opportunity and plunge the economy into insolvency and contraction. We are in a Capital-Abundant Country, and in order to see the maximum economic benefit, we must specialize in industries with which our factor endowment most efficiently serves - and we must invest in those industries as well. Politicians, don't panic from media broadcasts about "alarming" outsourcing, instead, make the smart choice and ensure that government investment is going to the right places (NOT MANUFACTURING).

1ugvr1

Article of the Week: National Debt in a Neoclassical Growth Model (Diamond, 1960)

[National Debt in a Neoclassical Growth Model](http://www.aeaweb.org/aer/top20/55.5.1126-1150.pdf) **AEA Summary**: Building on Paul Samuelson’s seminal work concerning consumption loans between individuals of different generations, this paper pioneered the analysis of overlapping generations (OLG) models with durable capital goods. It illumnated the properties of such models through two fundamental contributions. First, it demonstrated that the competitive equilibria of infinite horizon OLG models can be inefficient, even in the absence of conventional market failures. Second, it identified the mechanisms through which both external and internal debt can potentially reduce the capital stock. In clarifying the general equilibrium effects of displacing physical capital with government debt in individuals’ portfolios, it resolved a long-standing debate concerning the feasibility of using internal debt to shift the burden of paying for public expenditures to future generations.

Economics

There's a good /r/asksocialscience thread in which someone asked a seemingly simple question: [How is it okay/justifiable that all countries have public debt?](http://www.reddit.com/r/AskSocialScience/comments/1itanb/how_is_it_okayjustifiable_that_all_countries_have/), only to have me and /u/Integralds start talking about Hilbert and the nature of infinity. OLG models are a, if not the, major workhorse of modern macroeconomics. (Also, I cited it wrong in the tile - should be Diamond 1965)

dd0my

Request - An actual explanation of Austrian economical theory

So a lot of people around here like Austrian economics. I get that. But I never really got a handle on Austrian economics is. I have read a book by Mises and did not really explained anything. The Mises book talked about why Praxeology is a better way of coming up with a theory then Empiricism. I am not really convinced that coming up with a set of axioms and deriving results from them is really better then actually observing the world, but that is not entirely important. What is important is that if you are trying to derive all of economics from axioms, then those axioms are extremely important. They need to be absolutely bulletproof and hold true no matter what happens, and it seems to me that the only way to understand a school that relies on axioms and proofs is to actually figure out what the axioms are and to look at the proofs. After all, if you are examining the real world impact of a school that reject Empiricism, then you have already reject that school. So here is my problem - it is easy for me to find things that Austrian economists have concluded. It is easy for me to find Austrian policy recommendations, it is easy for me to find their criticisms of mainstream doctrines, but I have not yet been able to find a list of axioms anywhere, nor have I been able to find any sample proofs. It would be nice if someone can point me at a proof that Austrian economist would accept. (e.g. deriving a fact from something that is not an axiom) So I am willing to read books that people recommend as long as they contain the axioms (or sample proofs) in there somewhere, and I am also willing to read websites, blogs and the such. Can someone recommend a few sources?

Economics

Personally I have found Austrians to be like Monetarists and Marxists in that they have some absolutely brilliant insights that are only matched by some abysmal and highly questionable beliefs. EG: Von Hayek has some great stuff, but also wrote *The Road to Serfdom* which is just another "slippery slop" argument taken to the nth degree.

29sxw2

Article of the Week: The Monetary Transmission Mechanism (Ireland, 2005)

https://www.bostonfed.org/economic/wp/wp2006/wp0601.pdf This week's article was nominated by /u/Integralds, who writes: > This is a somewhat unusual link, as it's more a literature review than an original research article. However, it usefully ties together a lot of literature into one short piece. Abstract: > The monetary transmission mechanism describes how policy‐induced changes in the nominal money stock or the short term nominal interest rate impact real variables such as aggregate output and employment. Specific channels of monetary transmission operate through the effects that monetary policy has on interest rates, exchange rates, equity and real estate prices, bank lending, and firm balance sheets. Recent research on the transmission mechanism seeks to understand how these channels work in the context of dynamic, stochastic, general equilibrium models.

Economics

>According to the traditional Keynesian interest rate channel, a policy‐induced increase in the short‐term nominal interest rate leads first to an increase in longer-term nominal interest rates From what I read on monetarist blogs this doesn't necessarily hold because lowering short term rates pushes the future expected inflation rate up which means long term rate can go in the opposite direction than short term rates. That is, if a central banks wants to be stimulative and lowers short term rates, this would indirectly raise longer term rates because of a mix of heightened inflation expectations and real growth expectations. This only happens if central banks were below their inflation targets or are expected to let inflation go above their target for while (for example to catch up on trend) or if the more stimulative stance is expected to solve unemployment problems and promote real growth. Nick Rowe uses the ["balancing a pole" metaphor](http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/05/if-you-dont-like-low-interest-rates-you-want-the-bank-of-canada-to-loosen-monetary-policy-now.html) also called the ["inverted pendulum"](http://en.wikipedia.org/wiki/Inverted_pendulum) in physics. See also this discussion between [Sumner](http://www.themoneyillusion.com/?p=981) (there is great back and forth in the comments) and [Rowe](http://worthwhile.typepad.com/worthwhile_canadian_initi/2009/04/interest-rate-control.html#more) and a [subsequent post](http://www.themoneyillusion.com/?p=6605) by Sumner.

fs3mn3

China manufacturing activity for March is... up?

[China says manufacturing activity expanded in March](https://www.cnbc.com/2020/03/31/china-reports-march-manufacturing-pmi-amid-coronavirus-outbreak.html)

investing

**"China on Tuesday said...."** Do I believe them? I don't know. I guess there's some explanation for this, but I would like to hear it..any guesses? Edit: I'm finding it hard to believe since Oct-Dec 2019, for each month is lower than March 2020. Oct: 49.3 Nov: 50.2 Dec: 50.2, and March is 52..WTF?

w307bo

Net Worth for a Jet Card?

Before everyone reminds me why commercial could be a lot better, etc - for what it's worth, I have quite bad claustrophobia which makes flying (sitting on tarmacs, waiting for gates, etc) incredibly difficult. Best jet card for Miami/ NYC route? Other suggestions? I have tried JetSuiteX but the plane lacked wifi and was frankly awful. I understand this is most likely a 'waste' but for my peace of mind and comfort (with a newborn) I was hoping to find the best jet program to load $250k on and actually get proper use/ time Thanks everyone and hope you are all great.

fatFIRE

Are you truly claustrophobic, as in phobic of small spaces, or are you made anxious by people/crowds/uncertainty of waiting, etc.? I would expect private air travel to be worse, not better, for the former (because private plane cabins are going to be much smaller than commercial) and potentially helpful for the later.

mg5siq

Career switch / early retirement or stick it out?

Stats: Mid 30s w/ wife and 2 kids Own a home in HCOL area in the US Wife works and makes ~250k-350k (maybe more if equity does well) My income ~500k-600k ~3.5m net worth We could potentially live off wife's income (she loves her job), but I'm still working to pad the bank account. I've been at my job for around 6 years now. I came from a very different background, switched career paths in my late 20s and consideryself very lucky, at least from a financial standpoint. My life is everything I could have asked for from a family/friends perspective, but career satisfaction wise, I'm pretty bored / checked out. The people are all great and I do an OK enough job (recieve positive reviews) but I'm just finding it harder and harder to stay motivated and feel like I'm just waiting to have earned enough to quit. I probably would have left a while ago had the pay not been so good, but I'm really starting to feel hollow doing something everyday that I really don't care about. I also feel like a chump for bumming on it since it's such a privileged position to be in. My wife and I don't care much about super expensive things but like living where we do which has a certain base cost of living. Our biggest expense right now is preschool / daycare for our two young kids, which should hopefully switch to free public school once they are old enough. Question: is it totally foolish to leave my job given that I don't have a plan for the next thing, and could very well drop to a fraction of what I make now if I end up switching industries / starting new? Or should I just suck it up and stop thinking the grass is always greener on the other side. I know it's a super open ended question, but would love to hear any advice folks have. Thanks!

fatFIRE

What is your occupation?? $500-600k/yr is heavenly. If you aren’t working yourself to death every night, you can spend a reasonable time with your fam, and your health is fine, I would keep the job, try to make it more enjoyable, save for your family’s future, and pick up projects on the side until you find something you are willing to go all in for. Your next plan might need that saved up money to start. Don’t quit..... Still curious to what your occupation is.....:)

rhe92n

Anyone invest in AngelList funds?

Looking at ways to diversify some investments, and Ive made a few SAFE investments on AngelList. Today I decided to explore the platform some more, and it seems like theres a good amount of funds on there that are easy to access/participate in. Anyone here participate in any AngelList funds? How are the returns? How much work is it compared to regular equities? Any input would be great!

fatFIRE

I am invested in a couple funds managed on Angelist because I know the VCs that run them personally and my investment is nominal. It is a social endeavor. I don’t expect a great return. Deal flow is everything for returns, and the market for deal flow is extremely competitive right now such that you are not likely to get in on any high-quality deals this way. There is no such thing as low-effort, good-return angel investing. For angel investing with the primary intent of generating a good return, I source my own deals. It is a lot more work but more rewarding in multiple ways. Sourcing deals is difficult without some street cred in the startup world, and evaluating early stage deals is very difficult if you don’t have the context and experience of having built startups yourself. The things that matter are almost entirely qualitative at that stage.

7tw490

Looking to buy first rental unit

Wondering if I'm wasting my time. Right now I have 100% of my savings in the market (though the majority of that is actually in cash for the time being) through RRSP/RESP/TFSA (Canadian if you can't tell). I'm looking at potentialy using $40K against my HELOC to purchase a $200K condo. I'm in an area with extremely low vacancy rates, so for the time being at least, I'm not worried about renting out. I just don't know if the upside is worth the risk. The unit is a 10yr old condo that is on the main bus line in a 50K town, that goes to main area for work (A lot of service jobs here), hospital, higher ed. The building is nicely maintained and former renters speak highly of it (there's some slummy places in another part of town). It's a 2brm 800sq ft so can rent to small families and the strata fees are low for a 10yr old building (perhaps artificially, still need to do due dill on building) as no pool/amenities etc. $200K purchase $2100/yr Strata fees $1200/yr HLOC interest fees on the $40K Downpayment $1500/yr property tax $800/yr insurance 3.5% 5yr locked on a 30yr term $1000/yr maintenance budgeting 4% vacancy $1200 rental (what the current renter is paying) 4% increase annually to rent 6% cost to sell and $1,500 transaction fee to buy If I give the unit an appreciation of 0% I get an IRR of just under 5% after 10years (Condo's on average in my area up 2% annually last 10years). This doesn't account for tax deduct on my expenses for those 10years, nor my taxes lost on any capital appreciation etc. Given that I'm being conservative with the 0% appreciation - is this a worthwhile venture to diversify? I see all sorts of stuff online about 10%+ IRR - I just don't see how you could find that in this market (BC) without some serious appreciation being banked on. [Rental calc](http://www.calculator.net/rental-property-calculator.html?cprice=200000&cuseloan=yes&cdownpayment=20&cinterest=3.5&cloanterm=30&cothercost=1500&cneedrepair=no&crepaircost=10000&cafterrepairvalue=150000&ctax=1450&ctaxincrease=3&cinsurance=800&cinsuranceincrease=3&choa=2016&choaincrease=3&cmaintenance=1000&cmaintenanceincrease=3&cother=1572&cotherincrease=0&crent=1200&crentincrease=4&cotherincome=0&cotherincomeincrease=3&cvacancy=4&cmanagement=0&cknowsellprice=no&cappreciation=0&csellprice=200000&cholding=10&csellcost=6&printit=0&ctype=&x=57&y=6)

realestateinvesting

The deal stinks. Not every market works for rentals. A good rule of thumb is the monthly rent should be at least 1% of the purchase price. >4% increase annually to rent I would not count on that at all.

x3jdkg

What to do about a pain in the a$$ neighbor?

I have a rooming house with a bunch of tenants in there that are great people living harmoniously. Very few issues ever. It's at the end of a hammer cul-de-sac, and while there's ample driveway parking, it would be extremely convenient to park in the cul-de-sac also. This neighbor is retired and has nothing better to do and "anonymously" calls the police anytime someone parks in the cul-de-sac in front of my (not his) house. Even our HOA doesn't care, so the guy calls the police. Police think it's pretty stupid they're there but let us know that you aren't "technically" supposed to park there within 65ft. He's called the police on other neighbors for parking their RV on the street or other similar offenses. The entire neighborhood hates him. I just bought the house a few months ago and we got into an argument day 1 for backing our U-Haul up to move furniture in. That being said, I'm looking for childish and/or petty things to do to this neighbor. Good ideas are also welcome. I've talked to the tenants about not parking there and they get it and won't, however, I'm disgruntled and would rather stir the pot.

realestateinvesting

He won’t change, ever. Accept it. The thing that keeps me Christian is believing that people like that already have a well deserved room in Hell waiting. If you go full scale dirty tricks on his ass, then all that happens is you become is the biggest dickhead on the block instead of him. Not exactly a win if you are into Karma. Having him spend several thousand dollars on surveillance equipment installation only to never catch anyone doing anything is some pleasant legal retribution.

o0liix

Buying Land With A Wind Easement: Is it worth it, or is it a trap?

I've read in multiple places that sometimes wind farm developers and contractors can be predatory. I've also read that land owners are typically liable for just about anything, while the wind energy contractor who operates on the property has very little liability at all. ie: if a turbine technician gets injured, the land owner is responsible, not the contractor. Same thing if the neighbors have problems with the wind farm too. The land owner has to deal with any lawsuits or issues, while the contractors get let off the hook. I also read that the land owner has to seek permission from the contractor to build or contruct anything of their own, as well as driveways and access roads. Anybody have any experience with this? Just curious, because I've been seeing several land parcels for sale with wind turbines on them. At first it sounds too good to be true because of the guaranteed lease income. But then I notice that these postings have been up for almost a year. There's got to be a reason why! Thanks!

realestateinvesting

> Anybody have any experience with this? You won't get much useful information from personal experience. You need to read the exact contracts and talk to an attorney. These easements can be negotiated by the property owners and there are differences in laws from state to state, or even by county, so please don't make a decision based on what you hear from random people on the internet. Companies can and do take advantage of people, but only people who don't do their homework or have an attorney explain things to them. You have to let yourself be taken advantage of. I'm not saying good people haven't been ripped off, but you can't be ripped off if you read and understand all of the paperwork. If you are trusting other people's experiences instead of reading the actual contract, you will be taken advantage of. These easements are part of the public record and filed with the county's deed registrar, so there's really no excuse for not reading through them before buying a property. As far as liability is concerned, an umbrella policy will be your best friend. This is something you get in addition to a homeowners policy that offers a much higher level of coverage for very cheap. So if what you say is true and you're liable for a worker getting hurt on your property, it's the insurance company that handles the defense and the possible payout if you are legally liable. An umbrella policy has a high enough payout limit that your personal assets shouldn't be at risk. But again, talk to an attorney about this. Don't listen to random people on the internet, especially not me!

ha7lag

Why do landlords require renters insurance from the tenant?

How does this benefit the landlord and if the coverage only protects the tenant? Any pros to the LL? Doesn’t the owners property insurance cover any building damage?

realestateinvesting

I had a major disaster at my fourplex that rendered two units uninhabitable. Neither tenant had renter's insurance and I had to go to bat for them to get the responsible party's insurance to cover their belongings and alternative housing for them. Had it not been the result of someone's clear negligence then they'd have been out on the street with no compensation for their belongings and without any help with temporary housing for the months they had to be out of the apartment. My tenants would have been ruined (and at no fault of their own). Instead, they came out alright in the deal (probably a bit of a payday) and they got to come back to their homes instead of being financially destroyed. ​ Now let's say that one of my tenant's did something stupid and burned down my building. My insurance company would go after their insurance company to pay for the damages (to the entire building, to all of the tenants' belongings, to compensate me for lost rent, and to pay to put every tenant in the building up in temporary housing). If they don't have insurance, then my insurance company is going to sue them into bankruptcy. They can avoid the worst outcome for a $10-15/mo renter's insurance premium.

lj2vkn

How to deal with these two roommates?

2 roommates, Paige and Brittany. This property is in Maryland. It is a condominium/townhouse. I am the landlord. Paige gave me notice that she wants to leave in 2 weeks at the first of the month. She cited that the place is getting too small for her and her daughter. I responded by telling her that that's fine but she's responsible for breaking the lease and paying the remaining months on the lease (that's what the contract states). When I told Paige this, she told me further that Brittany has a boyfriend that has a key to the place and seems to be always there. (This boyfriend is NOT on the lease). She stated that the boyfriend does laundry there and she doesn't think it's fair that she's staying there paying half the rent, but the boyfriend is always there. Specifically Paige said this: "Leonardo has a key to the house. He has been here everyday since November. He comes and goes in here regardless if Brittany is here, does his laundry here. I have not been given confirmation if he is living here but with all of this, I feel as though he is. He has brought his friends over, not consistently but it has happened a few times. It’s not a good environment for my daughter. The main issue I have is my job. I need more space and I need to give my daughter more space. Each month, my work is doubling and I do not want to fail at my job due to not being able to move because I will still have to pay. Meanwhile, her boyfriend will continue to be here and I will not even live in this house. I hope you understand where I’m coming from. I will talk to Brittany today. I do need to have my own space but I don’t find it fair to have to pay for half the rent for a place I don’t live in and there is someone else living there and not on the lease but I understand when it comes to what lease terms state." What should I do next? The lease terms state that guests are not allowed to stay there for longer than a week unless approved by the landlord. Can I enforce anything legally as the landlord? Thanks!!

realestateinvesting

My leases are structured so each tenant is individually responsible for the entire lease. With that said, I would email both tenants something like: Hello Paige and Brittany, Paige has communicated she will be vacating in two weeks. As you both know, each of you are individually responsible for the entire lease, and both of you will be held liable for any future non-payment of rent. Brittany - You have the option of replacing Paige with another roommate. If you choose to do so, that individual will pay their portion of the deposit to Paige. The original deposit for the unit stays with me until all tenants vacate. If both of you elect to vacate, lease cancellations fees will be charged according to the lease.

nz1hwr

23 Year Old Law Student — $30k in Bank

Hey everyone. New here! I’ve been interested in real estate for a while now and have been listening to podcasts and trying to learn about real estate investing for about 6 months now. Currently I’m a second year law student in Miami and work part-time during school where I only make about $750/month since my main focus is on studying. However, I have a full-ride, so school is free and my living situation is also free, with my only expenses being around $300/month. I have no debt and have $30k stashed away in the stock market, but want to get into real estate, specially short term rentals in the Orlando area. What is the best way for me to do this? Or should I wait until I graduate? Is it possible for me to even get a mortgage? What if a parent co-signs? Any advice is greatly appreciated!

realestateinvesting

At least wait until after recruitment when you have a sense of where you’ll be working. Your financial situation in a couple years can be anything from $200k+ in big law to $40k as a PD or even unemployed. Best not make a major decision with debt before you have a handle on that.