Dogecoin is crashing!!!!!!!!

[OptOut | 8,884]

52 minutes ago, Bearcat-Doug said:

This explains why Dogecoin is up 20% since yesterday!

Yeah, almost certainly!

I'd imagine it is a FAR more stable and wise investment now than it was like 8 days ago.

[Bearcat-Doug | 5,105]

1 hour ago, OptOut said:

Yeah, almost certainly!

I'd imagine it is a FAR more stable and wise investment now than it was like 8 days ago.

 

Edited April 28, 2021 by Bearcat-Doug

[Link | 2,712]

Good god, y’all. Ok this is on me because I should have specified $1M liquid cash. Although I thought the present tense was pretty clear. Not eventual retirement nest egg. 

Most people in USA do not have 1M cash right now. Most people aren’t in the stock market and, I would argue, nor should it be mandatory to survive in retirement.

And most people would not be negatively affected by these tax increases, and if anything would be helped, if indirectly. But the right-leaning gentry howl about them, believing otherwise for Reasons. Yes @Tanooki, I believe it’s overly dramatic. 

[Link | 2,712]

Back on topic, is it ethical for Elon Musk to tweet “going to the moon”? I’d like to see his Doge transactions before and after he instantly created a very big and short-lived bubble.

Edited April 29, 2021 by Link

[OptOut | 8,884]

9 minutes ago, Link said:

Back on topic, is it ethical for Elon Musk to tweet “going to the moon”? I’d like to see his Doge transactions before and after he instantly created a very big and short-lived bubble.

No, he was just talking about NASA's multi-billion dollar award to Space X, using them as the SOLE vehicle producer for humanities return to the moon!

https://arstechnica.com/science/2021/04/five-reasons-why-nasas-starship-award-is-a-watershed-moment-in-spaceflight/

In fact, the article even has an accurate technical rendering of the proposed rocket:

Spoiler

 

[arch_8ngel | 1,597]

12 hours ago, Link said:

Good god, y’all. Ok this is on me because I should have specified $1M liquid cash. Although I thought the present tense was pretty clear. Not eventual retirement nest egg. 

Most people in USA do not have 1M cash right now. Most people aren’t in the stock market and, I would argue, nor should it be mandatory to survive in retirement.

And most people would not be negatively affected by these tax increases, and if anything would be helped, if indirectly. But the right-leaning gentry howl about them, believing otherwise for Reasons. Yes @Tanooki, I believe it’s overly dramatic. 

Having $1MM "liquid cash" is still very different from having $1MM/year in income.

Simply "having $1MM liquid cash" isn't the focus of the capital gains tax increase being discussed.

 

For instance, a net worth (excluding house) of $5MM is top-2.5% of households.

A 20% cash allocation in that case would be $1MM "liquid cash".

Even a $10MM net worth only bumps you to 1.5% of households (i.e. not yet into the proverbial "1%") where a more practical 10% cash allocation would be $1MM liquid.

 

But in either case -- you would be fairly unlikely to realize $1MM in income in a single year unless for some foolish (from a tax perspective) reason you chose to liquidate all of your holdings and force a realization of capital gains.

 

(high dividend income in the $15-$20MM asset range would force you there -- but otherwise people have quite a lot of control of when to realize their capital gains, so just because market "averages" would generate $1MM in asset appreciate per year in the case of the $10MM, they wouldn't necessarily be forced to realize it as income -- though the $10MM in invested assets-case is right on the precipice)

Edited April 29, 2021 by arch_8ngel

[Tanooki | 4,934]

@Link I'm going to throw you a bone, curveball even.  And this is the truth of it as far as I'm concerned, end game, on taxes.

Tax breaks if they help as one hoped they should to the right people, I'm in support of.

I am *NOT* in support of any tax breaks, tax loopholes, or asinine colossal levels of writeoffs large corporations/businesses (1M profit after operating expenses plus.)  I'm knowledgeable enough of history, almost majored in it, and I all well know how stuff was, decades ago, pre-80s.  While people love to throw glare and scare these days of this guy is at 10% this dude is at 43%, etc...whatever.  I'm not going to detail out a history lesson, but back in the day the middle and lower classes were taxed, all were taxed, but at a largely lower rate, even individuals weren't hit so bad even if they were better off, higher sure, but it wasn't like well you make 500K/yr so you owe us 70% and if that guy mades 450K/yr he owes us 50%.  Corporations functioned perfectly well and they got hit well over the 50% rate, they didn't have the loopholes and abuses you have now.

So I'd support what you'd pop off on a PC as far as terminology, a reboot, a cold start even.  Put the old rates for individuals and businesses back that we had say during the space race in the 1960s.  ATT, JP Morgan, etc they all functioned fine, didn't piss and while, gin up idiot support in the media, etc, they paid and moved along making fat profits still that kept the company fine and floating.  THe thing is now it's so sheisty.  I'd love to see that reboot, but that reboot would have to come at a cost of BOTH parties getting their heads out of their collective manipulative asses and be truthful what the rates would do across the board for people, schools, government, roads, infrastructure, etc unlike the crap they spew now.  I'd want this reboot bill to also ban companies of any size of reprisals against their employees and the total populace so they can't just raise their fucking prices 100% and fire people to cover it while knocking may others down to 35hr/wk work jobs to save even more.  You know those a-holes would do it, hell anyone would, despite what they may preach as it's a defensive tactic.

So yeah that, bring back the old 1960s and before era tax rates where things were covered, where people kept more of their dough, businesses on large paid the rates they were supposed to because they didn't get shady loopholes and workarounds that stand now.

 

How's that?

[Link | 2,712]

On 4/29/2021 at 11:24 AM, Tanooki said:

How's that?

Sounds great to me. 

On 4/29/2021 at 11:24 AM, Tanooki said:

back in the day the middle and lower classes were taxed, all were taxed, but at a largely lower rate, even individuals weren't hit so bad even if they were better off

Yes, that’s fine

On 4/29/2021 at 11:24 AM, Tanooki said:

but it wasn't like well you make 500K/yr so you owe us 70% and if that guy mades 450K/yr he owes us 50%. 

This is my only point of contention, if I understand your meaning. This is the margin concept that I mentioned initally. It doesnt mean $450 paying 50% (keeping 50%, or $225) and $500 paying 70% (keeping 30%, or $150). Obviously that would be nonsense. 

Higher tax rates apply only to the margin on top. So $500 is paying 50% on the first $450, and 70% applies only to the next $50. [EDIT: keeping $260.]
(They went through a number of margins at lower rates below those amounts as well, but we’re keeping the numbers simple for sake of this discussion. This doesn’t “punish” people for making more, not, at least, to a point where they retain less than they would have if the income was just lower in the first place.)

That aside, yes, I agree with everything you said. I’m really glad we’re in accord. 

Edited May 7, 2021 by Link

[Bearcat-Doug | 5,105]

Here it goes again!

[DoctorEncore | 3,691]

Gotta make that Elon Musk SNL DOGE money.

[Bearcat-Doug | 5,105]

9 minutes ago, DoctorEncore said:

Gotta make that Elon Musk SNL DOGE money.

[Tanooki | 4,934]

3 hours ago, Link said:

Higher tax rates apply only to the margin on top. So $500 is paying 50% on the first $450, and 70% applies only to the next $50. [EDIT: keeping $260.]

(They went through a number of margins at lower rates below those amounts as well, but we’re keeping the numbers simple for sake of this discussion. This doesn’t “punish” people for making more, not, at least, to a point where they retain less than they would have if the income was just lower in the first place.)

That aside, yes, I agree with everything you said. I’m really glad we’re in accord. 

Oh no, *I* get that, but good luck getting any news caster (either side) or politician to admit to that...hah.  I know that if you take say an easy sliding scale of 1M dollars, and you have percentages people pay depending what they make, it's NOT applied unilaterally across the board.  (Made up) that first 250K you pay 20%, then from 250000.01 to 500k then the rate is like 33%, and then 500000.01 to 800k is 45% and that last bit up to a M is 55% and over that could be 60 and so on.  It's the money taxed between those gaps you hit that percentage.  So even with someone making 60K a year if the cap raises at 55K that last 5K is hit with a few percentages higher, not the under.

I don't know how it gets done, because both sides are full of shit trying to demonize the other over cash, but I would assume the left would be more likely to do it knowing there were be blowback, and a hard one at that due to decades of horse shit being flung.  Maybe they throw it into the wind, accept a 1term presidency along with a loss of the house/senate for 6-12 years...but in that they put the old rates from 50 years ago back where corporations boomed and people got more on a check and all that without feeling screwed, and doing that in the bill(s) that change it they make it a crime, fines, whatever to 'retain' those profits by busting companies taking it out on employees and customers.  They worked fine without all the gimmes for a lot longer than when they got them.  I just don't know how it'll work to do it.

[OptOut | 8,884]

3 hours ago, Bearcat-Doug said:

Here it goes again!

So we buy in with every penny we have, right NOW, right? Or should we wait until the line goes even HIGHER, and then buy in at the top of that?

[Bearcat-Doug | 5,105]

6 hours ago, OptOut said:

So we buy in with every penny we have, right NOW, right? Or should we wait until the line goes even HIGHER, and then buy in at the top of that?

Yes. You go all in now, panic sell when it goes down and then buy back in on the way up. This is the way.

[Hammerfestus | 3,846]

41 minutes ago, Bearcat-Doug said:

Yes. You go all in now, panic sell when it goes down and then buy back in on the way up. This is the way.

Ahh so you’re familiar with my investment strategy.  Make sure you rant  endlessly about what a gold mine you’re getting in on.

[ThePhleo | 2,185]

I started out with 50k doge a short while ago. Cashed out my initial investment, and now I have 35k of them free and clear.

Im gonna likely cash out late tonight.....once RobinHood’s servers “catch-up” after Mr. Papa Elon’s speech tonight on SNL.

...

The power of memes is strong.

Gonna send some money to St. Judes, or Ronald McDonald House after this is all over.

[OptOut | 8,884]

So why does everyone think Musk is gonna boost the price of Doge on SNL? He's not there to shill it is he?

[ThePhleo | 2,185]

17 minutes ago, OptOut said:

So why does everyone think Musk is gonna boost the price of Doge on SNL? He's not there to shill it is he?

He’s been not-so-subtly hinting about it on his Twitter account all week.

Still there are some giant sized accounts out there that are also waiting for tonight’s show to cash out as well.

Basically, it’s a game of timing it before the big players cash out, and the servers crash. . . Another thing that can go wrong is he just flat out dunks on it and everyone panic sells.

Either way, I’m at zero risk at this point. I’m just having fun playing along with the memes.

[DoctorEncore | 3,691]

2 hours ago, Bearcat-Doug said:

Yes. You go all in now, panic sell when it goes down and then buy back in on the way up. This is the way.

 

2 hours ago, Hammerfestus said:

Ahh so you’re familiar with my investment strategy.  Make sure you rant  endlessly about what a gold mine you’re getting in on.

Buy high, sell low is an unconventional strategy, but one I'm also intimately familiar with.

[Bearcat-Doug | 5,105]

2 hours ago, OptOut said:

So why does everyone think Musk is gonna boost the price of Doge on SNL? He's not there to shill it is he?

I'm sure he will mention it. The fact that it's making the price go up fits since none of this makes any sense anyway.

[Bearcat-Doug | 5,105]

3 hours ago, ThePhleo said:

I started out with 50k doge a short while ago. Cashed out my initial investment, and now I have 35k of them free and clear.

Im gonna likely cash out late tonight.....once RobinHood’s servers “catch-up” after Mr. Papa Elon’s speech tonight on SNL.

...

The power of memes is strong.

Gonna send some money to St. Judes, or Ronald McDonald House after this is all over.

Even though I don't have any Dogecoin, I sent a donation to my local animal rescue in spirit. With all of the crazy money people are making, it's nice to see that a lot of them are doing good things.

[ThePhleo | 2,185]

12 minutes ago, Bearcat-Doug said:

Even though I don't have any Dogecoin, I sent a donation to my local animal rescue in spirit. With all of the crazy money people are making, it's nice to see that a lot of them are doing good things.

Do Only Good Everyday

[Bearcat-Doug | 5,105]

29 minutes ago, ThePhleo said:

Do Only Good Everyday

[Link | 2,712]

Wait. Is doge pronounced with a soft G? I watched SNL and Maye Musk pronounced it that way. I was like “whatever. She was reading off a cue card and she’s old and doesn’t know what this is.” But later Elon said it the same way. This makes no sense. Doge is a cool and nice Dog. Not a Doj. wtf, meme people? 

[Bearcat-Doug | 5,105]

22 hours ago, ThePhleo said:

He’s been not-so-subtly hinting about it on his Twitter account all week.

Still there are some giant sized accounts out there that are also waiting for tonight’s show to cash out as well.

Basically, it’s a game of timing it before the big players cash out, and the servers crash. . . Another thing that can go wrong is he just flat out dunks on it and everyone panic sells.

Either way, I’m at zero risk at this point. I’m just having fun playing along with the memes.

Hopefully you got out in time since it dropped 30% overnight.