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Fellas I'm fully vaccinated as of today.

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3 minutes ago, Optimus_Cr1m35 said:

Yes and no. There's a bunch of stuff you can use a HSA for that don't typically fall into the "Medical Expenses" category.

Mannnnnnn. 

I better warn one of the ladies I work with them because she pulls money every 6 months and said she's never been taxed. I've honestly never paid that any attention

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Just now, ya_boi_j said:

Summa muh *****. 

I was under the impression that since it was an actual bank account that I would be good. I showed a tax prepper the 1099-SA and she told me it wouldn't be taxed, just have to record it. Got my hopes up

Just be careful.  Don’t want you to get randomly hit upside the head.  They will come after you

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Just now, lostone said:

Just be careful.  Don’t want you to get randomly hit upside the head.  They will come after you

I mean if there's a chance then I will just use it if something happens. I've already had one run in with the IRS lol. I don't want that smoke anymore

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1 hour ago, Optimus_Cr1m35 said:

Don't sell. It's $10. Just keep it in there.

 

If this follows even a fraction of what Bitcoin did over the course of a few years, you'll be talking real money. If Doge ever hit $10, I'd be at $10k, when I paid $10. I'm not saying that Doge will ever match BTC, but I also don't want to be the dude who sold my 1000 shares of Doge for $100, only to have it skyrocket to $1000. (with that said, if it hit $100, I'm OUT).

I have a friend who has been sitting on Ripple (XRP) for years. I forget what his initial buy in was, some relatively low dollar amount when it was worth less than a penny... it’s hanging around .28 now and went north of $3 at one point like 3 years ago. Only reason he’s holding it is because he didn’t cash in when it went that high, so he’s just been waiting. I’m about to start calling him Dante as much as he says “I shouldn’t even be here” all the time.

Elon Musk has been pumping Doge quite a bit and there are a lot of people who will buy anything he talks about so I’m really hopeful on it going up. He even jokes about it being the accepted currency on Mars. I have 839 and planning on getting some more since it’s hovering around a nickel. Not going to overextend myself at all but it seems like it’s worth dipping a little more into it. I don’t expect it to hit anything close to Bitcoin or even Eth levels... but it is fun to think about. 

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3 minutes ago, Carter said:

I have a friend who has been sitting on Ripple (XRP) for years. I forget what his initial buy in was, some relatively low dollar amount when it was worth less than a penny... it’s hanging around .28 now and went north of $3 at one point like 3 years ago. Only reason he’s holding it is because he didn’t cash in when it went that high, so he’s just been waiting. I’m about to start calling him Dante as much as he says “I shouldn’t even be here” all the time.

Elon Musk has been pumping Doge quite a bit and there are a lot of people who will buy anything he talks about so I’m really hopeful on it going up. He even jokes about it being the accepted currency on Mars. I have 839 and planning on getting some more since it’s hovering around a nickel. Not going to overextend myself at all but it seems like it’s worth dipping a little more into it. I don’t expect it to hit anything close to Bitcoin or even Eth levels... but it is fun to think about. 

Yup. I have 1101, paid less than $10 for.

 

I keep telling my wife that we're going to be DogeCoin millionaires at some point...

 

Just the hop from .01 to .02 doubled my money. It's exponential growth for me. When it hit .08 last night, that's legit 800%+ growth for me.

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Reading more about the whole Gamestop thing, there’s got to be some very serious regulation following this.  One of the apparent reasons that Robinhood and others had to halt buying is because they were facing some liquidity issues and were leaning on Goldman and others for cash to cover the trades.  And the reason they had to do that was because they opened the floodgates for users to start trading without considering whether they had the capital to handle the influx of new users.  And a ton of new users signed up this week.

That’s a REALLY bad business model.  Most apps make money as they get more users.  So they have an incentive to recruit as many users as they can to use their app.  But when you’re talking about an app where you trade real money, that can quickly create a cash flow problem if you have a huge influx of new users.  I don’t like the idea of limiting individual investors or otherwise keeping them out of the market.  But these trading app companies absolutely need to have a hard cap on the number of users they allow to sign up relative to their financial situation.  And hard limits on the amount of trades that occurs might be necessary to avoid the same kind of situation.  

I still don’t understand a lot about the situation, but just that alone calls for very strong regulation of these trading apps. I’ve also been reading that Robinhood in particular has been doing some illegal and unethical business practices going back years, including that they are “gamifying” investments and are allowing too many new users to trade on margins who have no business doing that.  (I’m one of those people who has no business doing margin trades, but I recognize that and purposefully restricted my etrade account to prohibit it.)

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17 minutes ago, Leon Troutsky said:

Reading more about the whole Gamestop thing, there’s got to be some very serious regulation following this.  One of the apparent reasons that Robinhood and others had to halt buying is because they were facing some liquidity issues and were leaning on Goldman and others for cash to cover the trades.  And the reason they had to do that was because they opened the floodgates for users to start trading without considering whether they had the capital to handle the influx of new users.  And a ton of new users signed up this week.

That’s a REALLY bad business model.  Most apps make money as they get more users.  So they have an incentive to recruit as many users as they can to use their app.  But when you’re talking about an app where you trade real money, that can quickly create a cash flow problem if you have a huge influx of new users.  I don’t like the idea of limiting individual investors or otherwise keeping them out of the market.  But these trading app companies absolutely need to have a hard cap on the number of users they allow to sign up relative to their financial situation.  And hard limits on the amount of trades that occurs might be necessary to avoid the same kind of situation.  

I still don’t understand a lot about the situation, but just that alone calls for very strong regulation of these trading apps. I’ve also been reading that Robinhood in particular has been doing some illegal and unethical business practices going back years, including that they are “gamifying” investments and are allowing too many new users to trade on margins who have no business doing that.  (I’m one of those people who has no business doing margin trades, but I recognize that and purposefully restricted my etrade account to prohibit it.)

This doesn't really get to it

Basically whenever you put money into an account or sell a stock, there's a three day waiting period before the funds are actually available to you. This isn't Robinhood-specific, every brokerage operates like this. Since people are trying to trade immediately though brokerages loan you the amount you deposited at no interest so you can get back to trading. Robinhood felt the crunch because way more people started trading than they expected but I don't blame them for not seeing this coming. I'm sure any other brokerage would have suffered the same if they had this random influx of new traders.

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19 minutes ago, bdog 29 said:

This doesn't really get to it

Basically whenever you put money into an account or sell a stock, there's a three day waiting period before the funds are actually available to you. This isn't Robinhood-specific, every brokerage operates like this. Since people are trying to trade immediately though brokerages loan you the amount you deposited at no interest so you can get back to trading. Robinhood felt the crunch because way more people started trading than they expected but I don't blame them for not seeing this coming. I'm sure any other brokerage would have suffered the same if they had this random influx of new traders.

Thanks for the clarifications.  I know very little about these apps and so I’m kind of learning as I go.  The big problem and concern for me was the last part.  Yes, any brokerage would have had the same problem, but traditional brokerages can simply stop accepting new clients.  With an app-driven business model, Robinhood and other apps want as many new customers as they can get.  And that creates the problems that we saw this week.  So I think there will need to be some regulations that force these broker apps to either limit how many new users they sign up or limit how much money they can borrow when trading or something along those lines.  Because this week showed a major flaw with current app based business model.

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28 minutes ago, Leon Troutsky said:

Thanks for the clarifications.  I know very little about these apps and so I’m kind of learning as I go.  The big problem and concern for me was the last part.  Yes, any brokerage would have had the same problem, but traditional brokerages can simply stop accepting new clients.  With an app-driven business model, Robinhood and other apps want as many new customers as they can get.  And that creates the problems that we saw this week.  So I think there will need to be some regulations that force these broker apps to either limit how many new users they sign up or limit how much money they can borrow when trading or something along those lines.  Because this week showed a major flaw with current app based business model.

As far as I know, no brokerages really have any limitations on who can join. I opened my account with Schwab when I was in grad school and had no income and they they didn't/still don't really verify income. Either way, that's not really caused this problem.

Robinhood's problem is that they have name recognition and they've positioned themselves as being the platform for young/new traders so when people heard about what was going on, that's the platform they used to get in on the action. I guess you could argue that brokerages shouldn't let people trade on margin but that'd slow the stock market down to the point where we might as well go back to calling people on the floor of the NYSE to put in orders. If anything, I'd argue that the fund settlement period should be shortened so that brokerages don't have to resort to margin loans to allow people to trade but I don't know enough about why the settlement period is as long as it is to speak clearly on whether or not that's a good idea.

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9 minutes ago, bdog 29 said:

As far as I know, no brokerages really have any limitations on who can join. I opened my account with Schwab when I was in grad school and had no income and they they didn't/still don't really verify income. Either way, that's not really caused this problem.

Robinhood's problem is that they have name recognition and they've positioned themselves as being the platform for young/new traders so when people heard about what was going on, that's the platform they used to get in on the action. I guess you could argue that brokerages shouldn't let people trade on margin but that'd slow the stock market down to the point where we might as well go back to calling people on the floor of the NYSE to put in orders. If anything, I'd argue that the fund settlement period should be shortened so that brokerages don't have to resort to margin loans to allow people to trade but I don't know enough about why the settlement period is as long as it is to speak clearly on whether or not that's a good idea.

Thanks for all the info.  My point about trading on margins is that they shouldn’t allow new and inexperienced investors do that.  Or at least there needs to be some kind of screening process involved.  The idea that some newbie like me can get on their app and start trading on margins is insane to me.  I understand that trading on margins is important for the market.  Just don’t think somebody with no experience (like me) should be allowed to do that right off the bat.

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Trump is reportedly enamored with MTG, and after McCarthy just went to Florida to kiss the ring, she's going to face zero consequences for probably anything she's already done or will do in the future.

Democrats have got to agree on an unified strategy of painting her and Boebert as the faces of the Republican party like they do to the squad and democrats.

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17 minutes ago, Leon Troutsky said:

Thanks for all the info.  My point about trading on margins is that they shouldn’t allow new and inexperienced investors do that.  Or at least there needs to be some kind of screening process involved.  The idea that some newbie like me can get on their app and start trading on margins is insane to me.  I understand that trading on margins is important for the market.  Just don’t think somebody with no experience (like me) should be allowed to do that right off the bat.

That's an interesting idea. I feel like that'd have to be regulation that comes from the government though because any brokerage that implements that themself would get their lunch eaten. 

And I'm happy for the people who did well with GME (I have a friend who made over $20K) but I'm ready for this to end. Hedge funds having to liquidate their other positions to cover their shorts are causing the entire market to drop. 

And I also think it's ridiculous that people are acting like this is some example of the little guy beating the big guy. For one a lot of these people aren't "little guys". The guy on wallstreetbets who started this whole thing put $50K on it last year. A "little guy" doesn't have $50K to drop on a company on the verge of bankruptcy. Plus the hype around this has caused a lot of regular people to get in who are absolutely going to lose their shirts when this goes back down to Earth. At this point, holding GME stock is a game of hot potato. When it drops it's going to damage a lot of regular people. 

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22 minutes ago, bdog 29 said:

That's an interesting idea. I feel like that'd have to be regulation that comes from the government though because any brokerage that implements that themself would get their lunch eaten. 

And I'm happy for the people who did well with GME (I have a friend who made over $20K) but I'm ready for this to end. Hedge funds having to liquidate their other positions to cover their shorts are causing the entire market to drop. 

And I also think it's ridiculous that people are acting like this is some example of the little guy beating the big guy. For one a lot of these people aren't "little guys". The guy on wallstreetbets who started this whole thing put $50K on it last year. A "little guy" doesn't have $50K to drop on a company on the verge of bankruptcy. Plus the hype around this has caused a lot of regular people to get in who are absolutely going to lose their shirts when this goes back down to Earth. At this point, holding GME stock is a game of hot potato. When it drops it's going to damage a lot of regular people. 

Maybe they don't go into shorts so heavy? Maybe spend what you can afford? They should cut out starbucks each week.

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