IPB

Welcome Guest ( Log In | Register )


556 Pages V  « < 554 555 556  
Reply to this topicStart new topic
> Financial News
StrangeSox
post Dec 8, 2017 -> 03:52 PM
Post #8326


Third Base Coach
*************

Group: Members
Posts: 33,894
Joined: June 10, 2006
From: Homer Glen
Member No.: 3,878



QUOTE (southsider2k5 @ Dec 8, 2017 -> 03:48 PM) *
It would have more of an effect if there was a direct delivery process, but seeing as this is cash settled, I am going to guess there is no real volatility difference. It is such an odd product because the market is fixed and closed. All other currencies are based on money supplies which can be altered in real time by the governments that issue them. Bitcoin is a fixed market that can only expand to a fixed point by a fixed time.


I wonder how stable the mining rate has been. It inherently declines--every new bitcoin is harder to mine than the last--but people add more and more processing power to the overall bitcoin network. Googling only turns up a bunch of bitcoin profitability calculators and not a historical mining rate trend.
Go to the top of the page
 
+Quote Post
NorthSideSox72
post Dec 8, 2017 -> 04:34 PM
Post #8327


I drank what?
**************

Group: Admin
Posts: 42,039
Joined: September 14, 2005
From: North Suburbia
Member No.: 2,880



QUOTE (RockRaines @ Dec 8, 2017 -> 03:39 PM) *
It's a "currency" in that you can spend it, and its based on blockchain. But its the vaporware of currency

Except currency is backed by something. Like a government or an asset. Bitcoin is basically a coupon created by someone to generate buying leverage without ever having to cash it in. It only meets half the requirement of a currency.
Go to the top of the page
 
+Quote Post
southsider2k5
post Dec 8, 2017 -> 04:36 PM
Post #8328


Soxtalk Group Thinker
******************

Group: Admin
Posts: 143,078
Joined: March 26, 2003
From: Michigan City, IN
Member No.: 298



QUOTE (StrangeSox @ Dec 8, 2017 -> 03:52 PM) *
I wonder how stable the mining rate has been. It inherently declines--every new bitcoin is harder to mine than the last--but people add more and more processing power to the overall bitcoin network. Googling only turns up a bunch of bitcoin profitability calculators and not a historical mining rate trend.


I was wondering the same thing. Sounds like that is all proprietary data.
Go to the top of the page
 
+Quote Post
JenksIsMyHero
post Dec 12, 2017 -> 03:02 PM
Post #8329


Minor League Manager
************

Group: Members
Posts: 17,397
Joined: July 14, 2006
From: Western Burbs
Member No.: 4,024



My litecoins are doing well. Run, run, run!
Go to the top of the page
 
+Quote Post
RockRaines
post Dec 12, 2017 -> 05:16 PM
Post #8330


One toke over the line
**************

Group: Members
Posts: 42,864
Joined: January 24, 2005
From: West Loop
Member No.: 2,022



QUOTE (JenksIsMyHero @ Dec 12, 2017 -> 03:02 PM) *
My litecoins are doing well. Run, run, run!

Yeah, might as well put money on every type at this point and let it run. Percentages are ridiculous.
Go to the top of the page
 
+Quote Post
StrangeSox
post Dec 12, 2017 -> 07:23 PM
Post #8331


Third Base Coach
*************

Group: Members
Posts: 33,894
Joined: June 10, 2006
From: Homer Glen
Member No.: 3,878



Gotta lower that top tax bracket to help the wealthy in blue states you're trying to hammer. Screw everyone else, I guess.
Go to the top of the page
 
+Quote Post
caulfield12
post Dec 12, 2017 -> 07:50 PM
Post #8332


Bench Coach
**************

Group: Members
Posts: 49,446
Joined: March 25, 2007
Member No.: 5,243



Well, the ObamaCare/Medicaid hits are going to land hardest on 15 states.
12 of them voted Trump. Hawaii, Virginia and Massachusetts are the only exceptions. Talk about cutting off your nose to spite your face.


As far as Bitcoin goes, Jack Bogle (Vanguard) predicted only 4% average ROR over the next decade...why not, as long as it's only 5-10% of your assets and you can afford to lose it all.

For most "normal" investors, perhaps it's time to start shifting to stocks paying higher dividends with almost all of the asset price gains from the tax plan already baked into the market and Fed interest rate policy eventually cooling down the economy. Otoh, all the stock buybacks (funded by corporate tax cuts/taxpayers) will help investors, but the question is how much more?


Go to the top of the page
 
+Quote Post
caulfield12
post Dec 12, 2017 -> 11:27 PM
Post #8333


Bench Coach
**************

Group: Members
Posts: 49,446
Joined: March 25, 2007
Member No.: 5,243



https://www.nytimes.com/2017/12/12/opinion/...col-left-region
What Happens if the Tax Bill is a Revenue Disaster? Paul Krugman



For one thing, the bulk of the gains will go to the rich, who probably spend less of a marginal dollar. And this will be especially true for rich people receiving what they suspect will be transient income gains.

So, imagine yourself as a wealthy, liquid taxpayer experiencing a surge in after-tax income because your accountant has found clever ways to exploit the idiocy of new legislation. It will be fun and lucrative, but you’d have to suspect that the fun will end eventually – that even this GOP, with this leadership, will eventually close the most outrageous loopholes. So we might see big deficits that have relatively little real effect, because the winners from system-gaming save most of their gains.

Notice, by the way, that this isn’t the conclusion I’d like to reach on political grounds. Given how terrible this bill is, I’d like to claim that it will lead to immediate market disaster. But I try not to engage in motivated reasoning (although sometimes I give in to temptation, then apologize); and I just don’t see a market disaster even if we see the expected epidemic of tax avoidance.

What about the politics? OK, here I don’t have a clear model, so this is much more speculative. Still, what happens if the deficit balloons, and it’s clear that gaming of the tax bill is a major factor?

We know what Ryan and McConnell will try to do: they’ll try to use deficits as an excuse to cut safety-net programs. But will they be able to get away with this with the memory of the tax scam still fresh in everyone’s memory? I’m pretty cynical about centrists and the propensity of the media to be taken in by charlatans, but I think this would probably be a bait and switch too far.

Put it this way: Republicans would surely use big deficits as an excuse to propose big cuts in social programs, but they’d face a barrage of hostile media coverage, plus lots of public demonstrations as in the case of health care, all reminding everyone that these deficits were created by their own dishonest promises just a few months earlier.

And imagine, as we should, that all of this would go along with many front-page stories about dubious business types abusing the new loopholes. Doesn’t this sound like a political disaster for the GOP?

They could, of course, simply ignore the deficit and leave Medicare alone. But my guess is that they won’t be able to help themselves, that they’ll be prisoners of their own rhetoric even as the most unpopular legislation in history becomes pure political poison.

So that’s my prediction: minor market impact, but quite probably a political disaster for the GOP as it becomes even clearer that their tax policies reward scammers.

Of course, all this may be overshadowed by constitutional crisis. But that’s for another essay.



Go to the top of the page
 
+Quote Post
RockRaines
post Dec 13, 2017 -> 12:27 PM
Post #8334


One toke over the line
**************

Group: Members
Posts: 42,864
Joined: January 24, 2005
From: West Loop
Member No.: 2,022



Bitcoin free falling a bit today.
Go to the top of the page
 
+Quote Post
StrangeSox
post Dec 13, 2017 -> 06:14 PM
Post #8335


Third Base Coach
*************

Group: Members
Posts: 33,894
Joined: June 10, 2006
From: Homer Glen
Member No.: 3,878



New Republican tax plan lowers the top rate at the behest of their wealthy donors in states like New York and California that'll be hammered by eliminating SALT deductions. Will also obviously massively benefit the wealthy in states not hurt by salt changes.

Truly a tax plan for the middle class.
Go to the top of the page
 
+Quote Post
caulfield12
post Yesterday, 05:40 AM
Post #8336


Bench Coach
**************

Group: Members
Posts: 49,446
Joined: March 25, 2007
Member No.: 5,243



DOT says airlines won’t have to disclose baggage fees: What consumers can do

https://finance.yahoo.com/news/dot-says-air...-212725108.html


On Dec. 7, the Department of Transportation (DOT) released a statement announcing its intention to remove two proposed rules requiring airlines to disclose ancillary fees at booking. This includes baggage fees, which pulled in approximately $1.2 billion for airlines between July and Sept.

These rules were originally proposed by the Obama administration in January 2017, but were never finalized by the new administration after President Trump took office. Now they’ve been officially withdrawn, leaving supporters frustrated and out of options.


This post has been edited by caulfield12: Yesterday, 05:41 AM
Go to the top of the page
 
+Quote Post

556 Pages V  « < 554 555 556
Reply to this topicStart new topic
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:

 



RSS Lo-Fi Version Time is now: 15th December 2017 - 05:57 AM