Bitbrains revisited

Investing isn’t gambling. The sooner you learn that, the happier you’ll be. Especially if you’re a young cowboy Alpha male with a discount trading account. Or a hipster crypto fanatic with a loaded credit card. There’s a big world full of sharks out there ready to eat you up.

This week’s example is Bitcoin, which on Monday was (officially) 80% lower than its peak a little more than a year ago. As such it’s equaled, and will soon surpass, the epic meltdown in tech stocks at the beginning of this Century. At that time dot-com millionaires on skateboards said ‘it’s different this time.’ It wasn’t.

The tech bubble wasn’t about the future of the Internet (that was obvious) but the speculative over-valuation of profitless tech companies by naïve investors. Similarly the Bitcoin bust doesn’t negate blockchain technology or the digitization of money. But it’s wiped the floor with fools who thought crypto currencies created out of nothing, backed by nothing and regulated by nobody were worth billions.

Bitcoin went from $5,000 to over $17,000 in a few weeks because of insatiable plastic-fueled demand from uncooked investors who bought into an implausible story. They actually believed money could be manufactured privately, be free of central bank control, independent from government, untaxed, devoid of interest and yet be a medium of exchange. It was a scam. As usual, a small number of people got filthy rich. Millions of others, most of whom bought Bitcoin on Visa or MasterCard, have been wiped out – and are paying 19% interest on the losses.

It was all so obvious. On the last day of November in 2017, when BTC had just surged to almost $10,000, here’s what this pathetic blog had to say:

Do not buy Bitcoin. No matter how easy it is. How powerful the pull of greed. How seductive the effortless, unearned gains. This will not end well.

All it takes to buy is an email address, a smart phone for two-factor identification, a bunch of clicks and a credit card. There’s no personal information required, no identifiable data (except your card number or bank account info), no suitability requirement, nobody wondering if you’re a 13-year-old using mom’s plastic, or an 80-year-old with dementia. Click. Buy. And you own the world’s most volatile, dangerous asset.

Bitcoin, of course, isn’t money or currency. As a medium of exchange it fails every test. Few vendors will take it and transaction times are glacial. Even though bitcoin volumes are a tiny fraction of those handled by Visa, for example, the network is clunky, pedantic, massively inefficient. Nobody is going to be buying groceries, cars or ETFs with bitcoin. Fentanyl and automatic weapons, maybe.

Buying bitcoin is not investing, it’s gambling. By proffering your credit card to get some, you’re not sticking it in the eye of central banks, governments or The Man. You’re probably blowing off your own foot. Bitcoin doesn’t pass the investment smell test. There’s a reason its volatility has been 100%, with zero reliability. No government underwrites or stabilizes it through a central bank, which controls the supply and price of money. Digital currency offers no income stream, no guarantee of liquidity, no underlying security, no assets backing it and no failsafe way to safely store it, as with equities, bonds or funds.

And while the blockchain technology that allows digital currencies to exist appears brilliant, recent investors in bitcoin will probably lose most of their money. The threats at the moment are legion, and anyone ignoring them, hoping to double their wad by Monday, is the greatest of fools.

The BTC story isn’t over yet, and may not be until the losses equal 100%. Nor should it be viewed in isolation. The destructive urge for gains-without-brains also manifests itself in the junior resource stocks your BIL suggested. In buying individual securities mentioned by some impoverished journalist in the Globe or a discredited stock-flogging, bow-tied analyst on BNN. Or shoveling your retirement money into silver bullion, or handing over your net worth to a mortgage investment corp promising 8%.

Investing involves understanding risk, and seeking to mitigate it while putting capital to work. That’s why the best portfolios are balanced – holding growth assets plus safe, income-producing ones – and diversified, with several distinct asset classes. Risk is less when you own ETFs containing hundreds of stocks, instead of picking a few separate companies. It falls when you diversify out of Canada, which represents but a sliver of the world’s markets. It’s also safer when you own things like REITs, since rental income within them is not dependent on stock markets.

And, kids, it’s still not different. It never will be.

Property sales are down 20% so far this month in Calgary. In Victoria the drop is just over 30%. Alberta is in an oil-induced, NDP-augmented, pre-electoral funk. BC is just pooched, – unaffordable, stressed and terminally over-taxed.

Vancouver numbers due out early next week should be ugly as the climate there turns even more toxic for owners and investors. As if Comrade Premier Horgan and his eat-the-rich finance minister were not enough, the new YVR mayor is turning out to be just as anti-house. He’s now taking the steps necessary to triple the ‘vacant house’ tax which last year ripped $38 million from the hides of homeowners while doing nothing to lower rents or increase the vacancy rate (which was the only rationale for it).

Not that anyone thought it would. After all, this is just another tax on wealth. Added to the anti-foreigner tax, the anti-Albertan ‘speculation’ tax, and the special extra property tax in selected neighbourhoods, the EHT is an additional reason no sane person would buy a property in YVR, the LM, OK or the Island.

“The tax is proving effective and tripling it will just amplify that effectiveness,” says Mayor Kennedy Stewart. At the same time government stats show the vacancy rate is lower in areas where there is no tax.

As reported here yesterday, be careful what you vote for. You might just get it.

169 comments ↓

#1 akashic record on 01.28.19 at 5:05 pm

Bitcoin went from $5,000 to over $17,000

—-

It was really awesome, thank you very much.

#2 Figure it Out on 01.28.19 at 5:08 pm

Maybe shoot Jason Kenney a link to this post?

“Cryptocurrency could well be the backbone of the future digital economy. It depends on low-cost energy and we can provide that with our abundant hydrocarbon energy,” — him, a few days ago.

Alberta Advantage, or the Magic Beans Party?

#3 Bill Grabe on 01.28.19 at 5:12 pm

Although you have been trying to warn people about Vancouver, for a long time – with boots on the ground, and my perspective, this City is going to go ‘splat’.
There are literally HUNDREDS of new overpriced garbage ice cube, 1000 square foot prison cells, about to hit the market, at just the wrong time. Huge highrises, on streets built in 1950. We have too many cars already, but our glue heads in City Hall, have okayed barely used Bike Lanes and Bike Rentals and now even restaurants, butt onto the street – and traffic is backed up to Dartmouth.

WARNING: IF you are offered a job here, or anything to do with Vancouver of Victoria – DO NOT ACCEPT the gig. You can’t even find a Doctor in Victoria.

This place is starting to remind me of Mexico, only with colder weather.

#4 Jimmy on 01.28.19 at 5:13 pm

I read this everyday with a big bowl of yummy Captain Crunch.
What do you prefer?

#5 will on 01.28.19 at 5:18 pm

started reading ben graham’s security analysis again. what a great read.

#6 not 1st on 01.28.19 at 5:21 pm

And yet the average Vancouverite will wake up tomorrow vexing whether to vote green or ndp then watch as the place is impoverished into socialist stupidity.

#7 espressobob on 01.28.19 at 5:23 pm

Bitcoin is a commodity, not a currency and thats the point. Goldbugs won’t admit to the errors of their ways either. It must be hell.

Some learn from their mistakes and a few never do. Amusing.

#8 50 things to plan for on 01.28.19 at 5:28 pm

588 Barnham Place in West Van recently sold several hundred below asking – listed close to $2M and sold for $1.6M something. Its assessment last year was $2.6M. In May 2016 – when money was silly – it probably would have got over $3M.

Now correct me if I am wrong, but we are heading for at least a 50% correction. I was surprised to find one already. And the party is just getting started …

#9 will on 01.28.19 at 5:33 pm

looks like that dog has just taken charge of some good real estate

#10 Housing correction tax on 01.28.19 at 5:34 pm

They should have called it the housing correction tax. There was no reason for homes to ever become so expensive. Why we all felt so entitled to millions for doing nothing is beyond me and I think many others. I am all for freeing up empty homes for rental. The “wealthy” with copious homes need only rent the homes out rather than sitting on them while families of five live in shoe boxes in the sky.

Its also time – while the comrade is at it – to stop allowing seniors sitting in 3,000 sq ft homes to defer taxes. Some seniors are worth millions and are deferring tax – makes no sense. Sell the house, free up the cash, downsize and live happily ever after.

#11 TreeHugger on 01.28.19 at 5:36 pm

I have a friend who went with some girlfriends to an ‘Investment Event for Women’ Where they were told that ‘investing in the market just doesn’t work anymore’ and that the answer is private investment. Specifically in trees (https://worldtree.info/canada/). Because – you know – carbon.

They are intelligent women with money to invest lacking knowledge, and seemed quite taken with the idea (and the inflated potential returns). To me it sounds misguided at best and a scam at worst. Where/how to start explaining to them…?

#12 Thump on 01.28.19 at 5:39 pm

Missed yesterday’s blog. I bet Garth is going to block this Trump post of mine – he always does.

Create more jobs, secure the borders, fix the trade imbalances and so much more. It all makes sense. Except to the Dems who aren’t controlling it and never got it done.

Just because Trump is fixing trade imbalances, doesn’t make it a war. It’s business. And it’s necessary.

It’s time for the world to move back to production and development. We can’t all sit on our duffs waiting to win the real estate lottery. Pull your weight and you won’t be fired.

#13 Dave on 01.28.19 at 5:49 pm

Huewai executive was hit today with a laundry list of indictments. All extremely serious charges, China is going to put Canada in its cross hairs. We are going to be hit hard financially, one more nail in the Real Estate market.

#14 Reality is stark on 01.28.19 at 5:53 pm

There is no problem that a tax can’t solve. Just ask Kathleen Wynne. Taxes are the lifeblood of an economy.
As the housing bubble deflates taxes will rise, it’s inevitable. 70% of Canadian businesses lose money. With so many people relying on precarious self incorporated small business to try to eke out a living, few report any profit at all. Housing was their only profit centre and it was all smoke and mirrors.
A large government like what we have in this country will guarantee your povertous future. They have an insatiable desire to tax. They will also try to convince you that taxes are the road to prosperity.
We’ve been living a lie for eleven years now. Life is about to get very difficult for those that overextended on housing. The financial stress will result in a lot of extreme behaviour as people try to extort money from their parents. Help out your financially strapped siblings to work out solutions, don’t let them drown. The results may be catastrophic.

#15 wallflower on 01.28.19 at 5:58 pm

WARNING: IF you are offered a job here, or anything to do with Vancouver of Victoria – DO NOT ACCEPT the gig. You can’t even find a Doctor in Victoria.

hahahaha

You cannot find a doctor in ONTARIO.
I finally obtained one who won’t take patients who are on narcotics (what if you need to be on narcotics) and only offers Mon to Fri morning hours.

#16 Yellow Vest on 01.28.19 at 6:03 pm

Bitcoin will not survive for sure. It is like the 1975 giant boat car of crypto. But come on, the big news today is Huawei:

https://www.youtube.com/watch?v=Sy81pzXtL-M

#17 Peter in T.O on 01.28.19 at 6:04 pm

Bought Bitcoin in 2012, still holding most of it.

The blockchain will only serve as a protocol base layer for the coming revolution of middle-layer applications running on top of it.

Make your speculations today, because this isn’t going away.

#18 NoName on 01.28.19 at 6:04 pm

Hey flop, i don’t care what those other are talking about you, in my books you are 100% good guy. Last night o ordered some of that vegimate stuff, from amazon, to try it, boy is it ever expensive.

And on a side note, are you sure you are romanian pm.

—-

Former Romanian finance minister and a current economic adviser to prime minister Viorica Dăncilă, Darius Vâlcov, said he receives his salary in cash, in an envelope because he does not have a bank account, Hotnews.ro reported. He made the statements in a TV show at Antena 3.

When he needs to make online reservations for holidays, he turns to his girlfriend for help, he explained.

https://www.romania-insider.com/valcov-no-bank-account/

#19 Barb on 01.28.19 at 6:11 pm

#6 not 1st on 01.28.19 at 5:21 pm

And yet the average Vancouverite will wake up tomorrow vexing whether to vote green or ndp then watch as the place is impoverished into socialist stupidity.
—————————–

Nanaimo byelection is Wednesday.
With the Legislature in turmoil over the silver servant fraud exposed by Speaker Plecas (well done, sir!), civil servants are now hated as much as politicians.

Sigh.

#20 J on 01.28.19 at 6:14 pm

“Bitcoin will do to banks what email did to the postal industry.” —Rick Falkvinge, Founder of the Swedish pirate party

“Bitcoin is a technological tour de force.” —Bill Gates, co-founder of Microsoft, investor, and philanthropist

“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” —Leon Luow, Nobel Peace Prize nominee

“Bitcoin is the most important invention in the history of the world since the Internet.”—Roger Ver, Bitcoin angel investor, and evangelist

“Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.”—Edmund Moy, 38th Director of the United States Mint

“Still thinking about #Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.” —Lloyd Blankfein, CEO of Goldman Sachs

“[Bitcoin] is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.” —Kim Dotcom, CEO of MegaUpload

“It’s money 2.0, a huge huge huge deal.”—Chamath Palihapitiya, the previous head of AOL instant messenger

“[Virtual currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”—Ben Bernanke, Chairman of the Federal Reserve

“There are 3 eras of currency: Commodity based, politically based, and now, math based.”—Chris Dixon, Co-founder of Hunch now owned by eBay, Co-founder of SiteAdvisor now owned by McAfee

“I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down.” —David Marcus, CEO of Paypal

“Bitcoin is a classic network effect, a positive feedback loop. The more people who use Bitcoin, the more valuable Bitcoin is for everyone who uses it, and the higher the incentive for the next user to start using the technology. Bitcoin shares this network effect property with the telephone system, the web, and popular Internet services like eBay and Facebook.” —Marc Andreessen, entrepreneur & investor

“Instant transactions, no waiting for checks to clear, no chargebacks (merchants will like this), no account freezes (look out Paypal), no international wire transfer fee, no fees of any kind, no minimum balance, no maximum balance, worldwide access, always open, no waiting for business hours to make transactions, no waiting for an account to be approved before transacting, open an account in a few seconds, as easy as email, no bank account needed, extremely poor people can use it, extremely wealthy people can use it, no printing press, no hyperinflation, no debt limit votes, no bank bailouts, completely voluntary. This sounds like the best payment system in the world!”—Trace Mayer J.D., a leading expert on Bitcoin and gold

“Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value” —Eric Schmidt, CEO of Google

“You can’t stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust” —John McAfee, Founder of McAfee

“Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution. And bitcoin is doing just the same when it comes to inventing a new currency.” —Richard Branson, entrepreneur, business owner for Virgin empire

“Ten percent of my net worth is in this space.”—Mike Novogratz, hedge fund manager, Galaxy Digital Assets

“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.”—Marc Kenigsberg, founder of Bitcoin Chaser

“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.” —Vitalik Buterin, co-founder Ethereum and Bitcoin Magazine

#21 Reality on 01.28.19 at 6:15 pm

Garth,
Bitcoin, Brexit, Trump, ultra-right’s rise in Europe are all results of the masses saying “ENOUGH”! It now takes two incomes to just get by for a 2-parent family. The elites have skinned the last layer of skin off of the back of average Joe. Taxes through the roof, small businesses killed by bigger ones that have money to lobby their own interests, open borders for illegals, etc. Etc.
The average Joe feels that his interests are being raped, his life and well-being is under attack of the elites that want to keep him under control and just above the poverty line.
Bitcoin failed, but there will always be a search for freedom from the tyranny of private cebtral banks that keep pushing countries deeper and deeper into debt.
Global debt levels reach newer and newer highs. Who are the rentiers? They are the ones who own the best enslavement instrument – money – and will crash the system if we the deplorables stop paying our debts.
We are owned, but we are waking up and see the chains around our necks, wrists and ankles, and the fight for freedom will be fierce. Bitcoin is but one of the first signs a big change is coming. A very big one.

#22 TRUMP2020 on 01.28.19 at 6:16 pm

WANT TO BE RICH???

Here’s the list

These 3 books are the most important textbooks of investing and make up the principles that are used today.

https://www.youtube.com/watch?v=ZYgELDTE61Q Common Stocks and Uncommon Profits (Phil Fisher)

https://www.youtube.com/watch?v=SOZL99qriLE The Intelligent Investor (Benjamin Graham)

https://www.youtube.com/watch?v=vaIisxYJWtg Security Analysis (Benjamin Graham)

divdates_v2 is an excel program you can use to plug in stock symbols and it will spit out the dividend information.

http://www.dividata.com/dividates

http://www.thestreet.com/dividends/

http://www.grahamanddoddsville.net/ (a wealth of information on the application of value investing)

https://ca.finance.yahoo.com/investing/ a simple way to get info and news on any company and general economics

http://www.gurufocus.com/ my favourite site

A list of buy and hold investors (last names):

vand den berg
brandes
munger (warren buffets partner)
Chou
Marks
Khan
Eveillard
Simpson (warren buffets former stock picker)
Whitman
Pabrai
Watsa (called the Canadian Warren buffett)
Cunniff
Klarman
Browne
Buffett
Gayner
Russo
Weitz

Type their names in Gurufocus and examine their profiles and portfolios and recent buys and sells.

Happy Investing !!!

#23 Bob Dog on 01.28.19 at 6:23 pm

Im confused. Are taxes no longer used to enrich the lives of all Canadians? Do we not need more hospitals, roads, services such as sewage & water for the ever growing population? Growth is imperative according to what I have read here.

If Canadians can afford $2 million for an soggy outhouse in the middle of a rain forrest, they can surly afford provides services for the thousands of new residents we welcome every week. Newcomers deserve the same socialist advantages we have all enjoyed growing up in Canada.

And whats with the 19% interest rates on credit and 1% on savings. How is that legal? Can you say corruption?

#24 Cristian on 01.28.19 at 6:23 pm

“Or shoveling your retirement money into silver bullion”

I know you don’t like precious metals and try to discredit them whenever possible. However, having around 10% of my investments in physical gold helped mitigate losses in stocks one month ago. Instead of sinking by almost 20% together with the stocks in it, my portfolio went down only about 1.6% in December, and it was thanks to gold among others. Gold went up quite a bit while stocks went down quite a lot.

#25 Guy in Calgary on 01.28.19 at 6:24 pm

BTC is backed by gold, COMEDY GOLD!

#26 Not 1st on 01.28.19 at 6:33 pm

Huewei banned and now charged with multiple indictments. I would say globalists lost one today.

There is an article in the G&M today talking about PET putting on an expo for the Chinese in the 70s and they were caught trying to reverse engineer the pavillion stands. Yeah that’s what we are dealing with. Trump is 100% on the right track.

#27 CEW9 on 01.28.19 at 6:39 pm

#11 TreeHugger on 01.28.19 at 5:36 pm

I have a friend who went with some girlfriends to an ‘Investment Event for Women’ Where they were told that ‘investing in the market just doesn’t work anymore’ and that the answer is private investment. Specifically in trees (https://worldtree.info/canada/). Because – you know – carbon.

I heard of a guy who invested in trees. He planted black walnut trees on his property in his 20s for next to nothing. Sold them for lumber some 40 years later. Apparently did pretty well.

As with all investing, time is the biggest factor. And in this case, plant hardiness zones.

#28 expat on 01.28.19 at 6:39 pm

#7 espressobob wrote
Bitcoin is a commodity, not a currency and thats the point. Goldbugs won’t admit to the errors of their ways either. It must be hell.

Some learn from their mistakes and a few never do. Amusing.

What errors?

I’ve owned silver for 45years at 5 bucks an ounce….
I’ve owned Gold from 200-300 an ounce for 45 years….

I still have it… In fact many of my extended family pass it down as a asset from generation to generation.

checked the price lately fool – amusing indeed when one takes a longer view. It has been a store of value across generations.

Keep buying coffee with your smartphone boy…
You will soon learn what the real plan is….

Coming from a communist country where my family members were taken away decades ago gives one an insight to socialism and evil twin… communism…

One must be prepared.

BTW
Pretty hard to bribe the concentration guard with a smartphone and dead battery…

Who is the fool now

#29 Paul on 01.28.19 at 6:40 pm

#10 Housing correction tax on 01.28.19 at 5:34 pm
They should have called it the housing correction tax. There was no reason for homes to ever become so expensive. Why we all felt so entitled to millions for doing nothing is beyond me and I think many others. I am all for freeing up empty homes for rental. The “wealthy” with copious homes need only rent the homes out rather than sitting on them while families of five live in shoe boxes in the sky.

Its also time – while the comrade is at it – to stop allowing seniors sitting in 3,000 sq ft homes to defer taxes. Some seniors are worth millions and are deferring tax – makes no sense. Sell the house, free up the cash, downsize and live happily ever after.
————————————————————————————————
This stuff amazes me, self absorb people how they think they can tell others how to live. I think he should take in a couple of folks that need a place and retire to free up a job for a hard working homeless person and live happily ever after.

#30 AGuyInVancouver on 01.28.19 at 6:41 pm

#10 Housing correction tax on 01.28.19 at 5:34 pm
They should have called it the housing correction tax. There was no reason for homes to ever become so expensive. Why we all felt so entitled to millions for doing nothing is beyond me and I think many others. I am all for freeing up empty homes for rental. The “wealthy” with copious homes need only rent the homes out rather than sitting on them while families of five live in shoe boxes in the sky.

Its also time – while the comrade is at it – to stop allowing seniors sitting in 3,000 sq ft homes to defer taxes. Some seniors are worth millions and are deferring tax – makes no sense. Sell the house, free up the cash, downsize and live happily ever after.
_ _ _
You forget, conservatives are only against welfare if it is for the genuinely poor. If it is for old homeowning white folks, they are all for it.

#31 Dolce Vita on 01.28.19 at 6:43 pm

Greed and avarice never end well.

Then again, the sin of having worked hard, saved, then bought a home in YVR decades ago and see its price skyrocket, will not end well either.

You just can’t win.

A recession seems the only way out. A return to long run saving and investing sanity, affordable RE, paying off debt and the reckless removed for a decade or more (RE get rich quick gamblers).

And in the aftermath, BC Gov’s will be purged since someone has to be blamed. Why Trudeau will not get re-elected.

Maybe sometimes, you do win after all.

#32 HE Money Laundering Machine in BC on 01.28.19 at 6:43 pm

The real bubble. >$800B Since 2008.

Nearly $2 billion in dirty money may have flowed through B.C. casinos, far more than official estimates.

The new information, which is revealed in B.C. Gaming Enforcement Branch audit documents obtained by Global News, means that estimates for the totals laundered in B.C. casinos will skyrocket.

How many more billions until Gartho recognizes this as the biggest threat to the real estate market / financial system?

#33 islander on 01.28.19 at 6:45 pm

https://www.cbc.ca/news/canada/british-columbia/money-laundering-billions-bc-david-eby-1.4983471

Forget ‘millionS’! BILLIONS laundered……..

“RCMP, feds knew about higher figures but didn’t tell provincial government”
“A report issued last July by the Paris-based Financial Action Task Force, a body of G7 member countries fighting money laundering, terrorist financing and threats to the international financial system, highlighted B.C. money laundering activities.”
“Confidential provincial government documents dated April 2017 and released through Freedom of Information requests show the government was tracking suspicious currency transactions at B.C. casinos, especially in $20 bills, for years. The high-point of these transactions was more than $176 million in 2014-2015.”

And you wonder why we voted NDP?

#34 Mike in Cow town on 01.28.19 at 6:48 pm

“Or shoveling your retirement money into silver bullion, or handing over your net worth to a mortgage investment corp promising 8%.”

But but but…Bill Good said its a smart investment. ;)

#35 Rosie Freemont on 01.28.19 at 6:51 pm

Story of 2019 so far is : “Great for Canada” -John McCallum.

#36 Heather Hallam on 01.28.19 at 7:01 pm

#10 – You can’t defer property taxes because you feel like it. You have to show that you don’t have the funds to pay it. When your property is sold you have to pay up.

#37 Dolce Vita on 01.28.19 at 7:04 pm

#20 J

The conclusion is that the quoted Bitcoin fanboys were none the wiser at predicting it’s crash in value.

And thus, should not be trusted in predicting its future.

#38 Timmy on 01.28.19 at 7:04 pm

Don’t worry, Trudeau lacks either the spine or brain to do anything about the Chinese money laundering through real estate. More resources are needed to prosecute these crooks and Trudeau is not providing them. News sources estimate it in the billions in BC alone.

#39 Trojan House on 01.28.19 at 7:06 pm

…” but the speculative over-valuation of profitless tech companies by naïve investors.”

You mean like Tesla and Netflix?

Of course the housing tax in Van is not about reducing the price of homes or the vacancy rates or whatever else a politician tells you. It is to service their budgets and pensions, etc. $38M in free money to them. Why not triple it. It’s like the GST. It was only supposed to be around for a very short period of time. Chretien even vowed to get rid of it. BUT governments get addicted to that money, like a two bit crack you know what…

#40 Blacksheep on 01.28.19 at 7:12 pm

Dave # 13,

“Huewai executive was hit today with a laundry list of indictments. All extremely serious charges, China is going to put Canada in its cross hairs. We are going to be hit hard financially, one more nail in the Real Estate market.”
————————-
She’s gonna run.

I sure as hell would rather that spending the rest of my life in a US prison. Daddys’ worth billions and could pluck her from Van at will. Leave the 14 million in houses behind and never look pack.

Man Canada is bloody stupid…

#41 espressobob on 01.28.19 at 7:17 pm

#28 expat

I think you just proved my point. But I do like the 5 oz. Kookaburra silver coins, you see, they make great beer coasters.

#42 Midnights on 01.28.19 at 7:19 pm

No rule changes to private mortgage market.

https://m.canadianrealestatemagazine.ca/business-news/no-new-rules-coming-for-private-channel-lenders-253697.aspx?utm_source=Pinpointe&utm_medium=20190128&utm_campaign=CREW-Breaking&utm_content=8E496620-5211-462B-A82B-8E98ACBAD084&tu=8E496620-5211-462B-A82B-8E98ACBAD084

#43 tccontrarian on 01.28.19 at 7:19 pm

“Investing involves understanding risk, and seeking to mitigate it while putting capital to work. That’s why the best portfolios are balanced – holding growth assets plus safe, income-producing ones – and diversified, with several distinct asset classes.”–
*****

May I add:
1. “Not investing” also includes risks (like not having enough in retirement); GIC’s over time, lose out to inflation.
2. Also ensure that the ‘several distinct asset classes’ aren’t correlated (positively). If they are, they all suffer together.

My grand perspective is that EVERYTHING carries a risk/reward profile. When the odds are good, I place my ‘bets’; when not, I stay on the side-lines.
But I do like to speculate on the side – but not as main course strategy. Beats the odds of Lotto 6/49 etc…

TCC

#44 Blacksheep on 01.28.19 at 7:25 pm

Barb # 19,

“Nanaimo byelection is Wednesday.
With the Legislature in turmoil over the silver servant fraud exposed by Speaker Plecas (well done, sir!), civil servants are now hated as much as politicians.”

Sigh.
—————————–
If Plec-ass, was not facing a recall vote in Abbotsford, we would not have heard, word one about the Sargent @ Arms misdeeds. Any body that believes this type of behavior isn’t common practice in politics is kidding themselves.

But you know, speaker D. had to take three completely unnecessary free trips, staying in 5 star hotels, limos included, with the bad guys, just to really make sure they are milking the system.

Please…

#45 Homer on 01.28.19 at 7:26 pm

#36 Heather Hallam on 01.28.19 at 7:01 pm

#10 – You can’t defer property taxes because you feel like it. You have to show that you don’t have the funds to pay it.

Incorrect.
This is not means tested in BC. Any property owner 55 years or older can defer property taxes on their principal residence.

#46 chelsea on 01.28.19 at 7:27 pm

Recent News… BC still in the dirty money, casino laundering in the billions… no wonder the real estate here in BC is over price, and you are right on Garth, beware buyer’s in BC… one has to have a few brain cells missing to purchase a home right now… I suppose until the laundering of dirty money is erased completely BC home prices will stay high.. but, they won’t sell. Sorry seller’s, and to those greedy, rude realtor’s!

#47 JM on 01.28.19 at 7:29 pm

Lots of hate for Gold here. With all due respect, a 10 year chart in gold in CAD indicates an increase of almost 50%.

Gold was $1,100 US in 2009. It was $1,900 in 2011. Now it’s $1,300. Get a new calculator. – Garth

#48 Ex-Cowtown on 01.28.19 at 7:31 pm

DELETED

#49 Remembrancer on 01.28.19 at 7:32 pm

#17 Peter in T.O on 01.28.19 at 6:04 pm
#20 J on 01.28.19 at 6:14 pm
and whoever else, I can’t be bothered looking anymore…
———————————————————-
Dudes, blockchain is a great technology with lots of potential applications out there, a couple which I’m privvy to are game changers if / when they get off the ground so not a hater. But… roll your own crypto currencies using blockchain are like arcade tokens – have fun until the arcade closes… or maybe you know that and this is desperate pumping to get out with something before it collapses completely?

At least with bubble gum cards you could put them in the spokes of your bike and make a cool noise, do that with your crypto key’ed SSD and you’ll just bend your spokes. Sad!

#50 Not so sure on 01.28.19 at 7:34 pm

#36 My dad is 75 and is worth several ill gotten real estate millions. He has re, cash and investments and still defers the tax because he cannot afford it. It’s hilarious.

#51 Buscuits for blog dogs on 01.28.19 at 7:34 pm

Ohai Garth and Dogs,

“The tax is proving effective and tripling it will just amplify that effectiveness,” says Mayor Kennedy Stewart. At the same time government stats show the vacancy rate is lower in areas where there is no tax.

So vacancy rate is higher where there is a spec tax, isn’t that what is supposed to happen to help renters? Higher vacancy is higher opportunity to attain a rental suite, and hopefully push the prices lower from competition, right? Doesn’t that prove the validity of Stewart’s claim not refute it?

#52 Plenty of fish on 01.28.19 at 7:37 pm

https://www.foxnews.com/lifestyle/model-hid-trump-support-out-of-fear-it-would-kill-her-career-i-couldnt-tell-anyone

Wonder how many others plan to come out of the closet? How funny it is with all the right to free speech that you cannot openly support the president that you elected.

#53 acdel on 01.28.19 at 7:37 pm

#11 TreeHugger

Why would you? They are highly intelligent as you said, let them figure it out like most blog dogs have.

#54 Andrew on 01.28.19 at 7:44 pm

Look forward to your humble post in a few years when you’re off zero in bitcoin.

#55 Matt on 01.28.19 at 7:49 pm

Sorry Garth your acronym for the Empty Homes Tax is already taken by the Employer Health Tax, which is just about to start flowing through to the end prices for everything we buy in BC. That is, from those employers still dumb enough to employ real humans.

Choose another acronym.

#56 -=jwk=- on 01.28.19 at 7:57 pm

Create more jobs, secure the borders, fix the trade imbalances and so much more. It all makes sense. Except to the Dems who aren’t controlling it and never got it done.

Just because Trump is fixing trade imbalances, doesn’t make it a war. It’s business. And it’s necessary.

He’s also the greatest military mind, immigration lawyer, personal physician, forest manager and engineer in the world.

You want to be poorer than China, so they spend more on you than you do on them? That would ‘fix’ the trade imbalance, wouldn’t it? Because this is how you become poorer than China…Trump desperately wants America to no longer be the richest country in the world, and he just might get it!

#57 akashic record on 01.28.19 at 7:59 pm

#26 Not 1st on 01.28.19 at 6:33 pm

There is an article in the G&M today talking about PET putting on an expo for the Chinese in the 70s and they were caught trying to reverse engineer the pavillion stands.

Later they reverse engineered the naive Canadian mind to figure out how to conduct money laundering and disable RCMP, as successfully and effectively as Canadians never could.

#58 Figure it Out on 01.28.19 at 8:00 pm

“The average Joe feels that his interests are being raped, his life and well-being is under attack of the elites that want to keep him under control and just above the poverty line.”

The average Joe doesn’t sign up for his employer’s retirement savings matching program, gets himself a “free” smartphone on a $70/month plan, and another for the wife, and $120/month for cable so he can watch sports and have the TV CONSTANTLY SHOUTING AT HIM TO BUY A BIGGER TRUCK AND MORE BEER, buys or leases a new car because he “needs something reliable, and, hey — low biweekly payments! Doesn’t check the fuel economy of said car, or whether it needs premium gas, or how much it will cost to insure. Buys the biggest house he can afford, with a long commute, instead of the smallest he can stand, closer to work. Doesn’t shop for groceries on sale because no time. Orders in and eats out because no time or inclination to cook. Uses software instead of a pencil to do his taxes, so instead of figuring out how to structure his affairs to pay the least, he pays the most and bitches about it. Pays himself last instead of first but, oops, no money at the end of the month! Treats himself to foreign vacations because he thinks he deserves it. Drinks a bit too much sometimes, but doesn’t everybody? Thinks he’s smart because he transferred those credit card balances to a HELOC. Buys lottery tickets, and too much insurance. Thinks stocks are a way to get rich, or lose it all.

And who’s to blame for his troubles? Elites, and the government. What’s the answer? Bitcoin! And don’t get him started on those lazy Millenials…

#59 espressobob on 01.28.19 at 8:02 pm

#24 Cristian

The problem holding a position in PMs is opportunity cost. Its the miners that ascend way above their underlying commodity when things go north. Owning say the TSX composite provides one with loads of exposure to this sector.

Way less risk and it pays dividend.

#60 dd on 01.28.19 at 8:04 pm

Did you mean ‘vacancy rate is’ higher ‘in areas with no tax’? In other words the EHT has done nothing or even made vacancies worse?

#61 down and out on 01.28.19 at 8:12 pm

#45 is right ,many friends and family in BC say you are a fool not to defer tax , in my small world I have not met a senior who pays their tax and they can easily afford it .I tried to find government figures for defers but no luck so far.

#62 Long-Time Lurker on 01.28.19 at 8:20 pm

Garth, have you ever considered that you attract strange people to your blog?

#151 IHCTD9 on 01.28.19 at 11:59 am
Ahh, -26 C out this am, and as it turns out; the IHCTD9 bunker complex was a toasty +26 C inside at the same time. Looks like we guzzled wood pellets at a rate of about 6.7 lb/hr between the two stoves last night.

When it gets this cold out, I think about taxes. Fuel Taxes. We can’t get by without fuels – and that’s why we are taxed out the wazoo on them. This year we get another fuel (and therefore everything) tax: Carbon taxes.

Stove #2 is in the cross-hairs this summer. Either that, or the fuel I put in it will be. One or the other…

>You might find this interesting:

https://en.wikipedia.org/wiki/Rocket_mass_heater

https://richsoil.com/rocket-stove-mass-heater.jsp

#63 acdel on 01.28.19 at 8:28 pm

Always agreed with you Garth regarding Bitcoin; although the smart/lucky ones did very well.

For me, it has always been about the technology behind it, blockchain, the potential of this technology is mind boggling, mind you, mine is shrinking in age :); but I can see a great shift in the future if it is handled properly, time will tell!

#64 NoName on 01.28.19 at 8:33 pm

Interesting read

A cure for cancer? Israeli scientists say they think they found one https://www.jpost.com/HEALTH-SCIENCE/A-cure-for-cancer-Israeli-scientists-say-they-think-they-found-one-578939

#65 Life Sucks on 01.28.19 at 8:42 pm

I guess the new message in BC is if you don’t like it, move. I believe that message has been trumpeted here on this blog for quite some time pertaining to the lack of affordable housing for the local denizens.

Life sucks I say, vote with your wallets and feet, move the hell out of this communist hell hole I say.

Please leave….really please leave.

#66 Piano_Man87 on 01.28.19 at 8:43 pm

I thought bitcoin was dangerous when I realized the average person would want nothing to do with it. Good luck getting someone on the street to buy something online, with no government backing, no legal recourse if something goes wrong, that is not accepted almost everywhere as a means of exchange.

A coworker of mine is selling his bitcoin miners. He was mining for a couple years before the spike, but now he’s seen the writing on the wall. He wants out. I never got in.

I’m still waiting for John McAfee to do that thing he said he’d do.. heheh.

#67 DON on 01.28.19 at 8:51 pm

Flop…

You get your butt back to this blog and continue posting. I and others on here will ride Shotgun on the Flopp’in Stage Coach.

My MIL just past from cancer in November and I by no means thought anything of your comments on that day in question.

As for the people that don’t want you post. The hell with them, only a weak minded person would still their head in the sand and not want to know the truth.

Garth saw value in you posting and that is good enough for this blog dog. Don’t make us hunt you down.

As for your Dad, spend time and chat. Forget the past as much as you can and just enjoy family.

#68 the Jaguar on 01.28.19 at 9:00 pm

Dear Dorothy,
Been awhile and we miss him. Isn’t there some small crumb? Chewing up an old toy or something. When you make him a ‘regular’ you must understand the result is that we all hand wring with you. Wonder how he is doing, etc. GT is preoccupied with the adjustment to what maritime winters really represent versus the lovely summer months. There are no preferable climates in Canada when it comes to the winter months. Some are better than others. Southern Alberta for sure – sun is a tonic. Shush. Don’t let the secret out. Better to let them pull the cloak of misinformation more tightly around them. Meanwhile, enquiring minds just wonder what Bandit is doing to keep amused and to pass the winter nights….

#69 Nonplused on 01.28.19 at 9:03 pm

It was taxes, of course, that caused the American revolution. And probably the French one. And probably the “yellow vests”. When will government finally realize that there is only so much to be taken?

Even the Pharaohs had to feed the slaves building the pyramids. No food, no work.

And we’ve got even bigger problems coming down the road as “wealth taxes” become more popular. The big problem with “wealth taxes” of course is that the rich don’t actually have any money, they have assets. So in order to pay the taxes they have to sell assets, and that presumes there are people out there that can buy the assets at current valuations. Well, there are, but they are also other rich people who are selling their assets to pay the “wealth tax”. Wealth taxes could cause a complete destruction of the stock market (and indeed all asset classes) when and if they are introduced. Stocks would have to fall to the point where the 99% are heavily incentivized to buy them.

That’s the problem with “wealth”. It isn’t money. It’s generally a company, or a farm, or a building you lease out. Something along those lines. So in order to pay tax on it, either the returns must cover the “wealth tax” in which case it is just another income tax, or you have to sell part of it. And you have to have a buyer.

And don’t think for a minute the “wealth tax” will stay where it is. When “income taxes” first came about they applied also only to the rich, but now everybody gets assessed. So it will be with “wealth taxes”. Who is wealthy? Someone with a $50 million portfolio? What’s to say that shouldn’t eventually be $25 million? or how about $2.5 million? If you live in Vancouver, that’s your house. The numbers will change until everyone has to pay it.

This is a long term slide of course, as with income taxes the treachery didn’t occur all at once. What you do as a government is get the plebs to vote it in when only a few rich people are affected and then expand it.

And the reporting requirements are going to go exponential. In order to figure out who is rich, all people will have to report all of their wealth to the government. But as with the stock example, it’s all silly because it can’t all be monetized. My truck is worth $30,000 for example, but how do I extract money out of it to pay for that “wealth”? Other than to sell it? But I need it!

#70 DON on 01.28.19 at 9:14 pm

#44 Blacksheep on 01.28.19 at 7:25 pm

Barb # 19,

“Nanaimo byelection is Wednesday.
With the Legislature in turmoil over the silver servant fraud exposed by Speaker Plecas (well done, sir!), civil servants are now hated as much as politicians.”

Sigh.
—————————–
If Plec-ass, was not facing a recall vote in Abbotsford, we would not have heard, word one about the Sargent @ Arms misdeeds. Any body that believes this type of behavior isn’t common practice in politics is kidding themselves.

But you know, speaker D. had to take three completely unnecessary free trips, staying in 5 star hotels, limos included, with the bad guys, just to really make sure they are milking the system.

Please…
*************

Again you are trying to pull the wool over people’s eyes.

The Honourable Mr. Plecas is/was being recalled by his own party as he would not stand for corruption. The Press was in Abbotsford and couldn’t find a voter that thought he should be recalled. On the the corrupt BC Liberals were trying to recall him for having morals and integrity. Try reading something other than press releases from your local corrupt BC Liberal MLA. FFS!

Get your head out of the sand.

#71 Mike Rotch on 01.28.19 at 9:19 pm

#28 expat on 01.28.19 at 6:39 pm
…..“What errors?

I’ve owned silver for 45years at 5 bucks an ounce….
I’ve owned Gold from 200-300 an ounce for 45 years….”

45 years, eh?

2.5% annual return on the silver, 4.5% on the gold (less storage costs, fees/commissions, capital gains taxes).

Cool story, bro!

#72 bdwy sktrn on 01.28.19 at 9:23 pm

math/tech/computer guy here.

blockchain is slightly better than a excel spreadsheet.
slightly.

#73 akashic record on 01.28.19 at 9:25 pm

“Surveillance Capitalism”: Google Sister Company To Package And Sell Location Data From Millions Of Cellphones

This is Sidewalk Labs, of course… which aims to “help” Toronto, too.

https://www.zerohedge.com/news/2019-01-28/surveillance-capitalism-google-sister-company-package-and-sell-location-data

#74 Ustabe on 01.28.19 at 9:26 pm

#4 Jimmy on 01.28.19 at 5:13 pm

I read this everyday with a big bowl of yummy Captain Crunch.
What do you prefer?

Froot Loops with a side of Fruit by the Foot for dessert.

#75 Barb on 01.28.19 at 9:38 pm

#44 Blacksheep

“If Plec-ass, was not facing a recall vote in Abbotsford, we would not have heard, word one about the Sargent @ Arms misdeeds. Any body that believes this type of behavior isn’t common practice in politics is kidding themselves.

But you know, speaker D. had to take three completely unnecessary free trips, staying in 5 star hotels, limos included, with the bad guys, just to really make sure they are milking the system.
Please…”
—————————————–

Really? REALLY?
The Honourable Speaker is a criminologist and holds two degrees, as well as considerable police experience, which would naturally include all manner of law enforcement tactics.

Plus he explains–more than adequately (to me anyway) within his 75-page report–of his trips and that he didn’t avail himself of taxpayer-paid gifts.”

Yes he went with them (which he also explained).
Ergo you equate him with the “bad guys”.

It’s unfortunate SFU was chock-full when you applied to take those classes. Perhaps higher grades would’ve gotten you in.

#76 acdel on 01.28.19 at 9:44 pm

#67 DON

Completely agree with you but perhaps he just needs a break for whatever reason. None of our business unless he is willing to share. I have always enjoyed his posts and appreciated the effort he put into them.

Life is full of naysayers but many just ignore the #@* and respect the ones trying to help, there are so many on this blog from the past to the current that have changed so many lives including/especially this author (Garth), well appreciated by me and many others.

#77 Drunken Stupor on 01.28.19 at 9:47 pm

Check how BIS (Central bank of central banks) trolled Bitcoin
https://ftalphaville.ft.com/2019/01/23/1548238967000/BIS-trolls-bitcoin/

#78 VicPaul on 01.28.19 at 9:49 pm

#30 AGuyinVancouver says,

“You forget, conservatives are only against welfare if it is for the genuinely poor. If it is for old homeowning white folks, they are all for it.”

This tax deferment is allowed for people of all races…why is racism against “whites folks” ok? Let’s just start assessing people on their behavours and competence…(slow head shake).

#79 Steve French on 01.28.19 at 9:51 pm

Smoking Man:

You’re on the right track with your observations from yesterday, but The Donald will not save you.

– Frenchie.

#80 not 1st on 01.28.19 at 10:13 pm

Garths team laments the trade war with china but look deeper at whats being created there and ask youself of you want to fund it. Trumps easy to bash cause we think he has loose morals. So this is better?

https://www.youtube.com/watch?v=ydPqKhgh9Mg

#81 Russ on 01.28.19 at 10:28 pm

Heather Hallam on 01.28.19 at 7:01 pm

#10 – You can’t defer property taxes because you feel like it. You have to show that you don’t have the funds to pay it. When your property is sold you have to pay up.
======================================================

Not wholly true Heather! The part of paying up on sold status is good, but

the following came off the BC Gov website:
—————————————————————
There are two tax deferment programs you may qualify for:

Regular Program

You may qualify for the Regular Program if you’re:

55 or older during the current year or
a surviving spouse of any age or
a person with disabilities
————————————————————–

Age alone is enough to qualify for the “low interest loan” (government description) of the regular property tax deferral program.

Ain’t B.C. great!

#82 IHCTD9 on 01.28.19 at 10:37 pm

#62 Long-Time Lurker on 01.28.19 at 8:20 pm

Garth, have you ever considered that you attract strange people to your blog…

…>You might find this interesting:

https://en.wikipedia.org/wiki/Rocket_mass_heater

https://richsoil.com/rocket-stove-mass-heater.jsp
———

Wow, that’s exactly the plan, except not the mass heater type, rather the stove type that expands the gasses inside a large tank for maximum heat extraction before it goes up the chimney.

There is a local plant in town that makes stuff out of wood, they bundle up the edging and put it outside for all the wood burners to take (kindling). This stuff is bark free and kiln dried – 100% perfect for a rocket stove type heater.

There is voluminous pile put out every day, and it’s free. I like free because the tax burden on $0.00 works great for a guy like me.

#83 Deplorable Dude on 01.28.19 at 10:51 pm

Gonna hit a record -55 in Chicago with windchill the next couple of days.

It’s all that frigid air coming down from the hot melting Arctic…which incidentally is enjoying a decade high ice volume.

Anyway here ya go. Overwhelming evidence of collusion…..

https://realclimatescience.com/2019/01/overwhelming-evidence-of-collusion/

If you’re still a Climate alarmist after reading that….well I’ve got some WMD’s in Iraq to sell you….

#84 PastThePeak on 01.28.19 at 10:59 pm

#20 J on 01.28.19 at 6:14 pm
“Bitcoin will do to banks what email did to the postal industry.” —Rick Falkvinge, Founder of the Swedish pirate party

blah blah blah
….
+++++++++++++++++++++++++++++++++++

A few comments:
– If these guys were so smart, why are they not bitcoin billionaires?
– A technology can be “fundamental”, but by itself it is not worth anything. TCP/IP is the fundamental protocol of the Internet, but it is not worth anything (get yer packets here…). HTML is fundamental to the World Wide Web, but again, no digital gold. It is the applications built on top, that enabled “businesses that make money” that has led to the Internet giants.
– If Bitcoin was the only digital currency available (and no one else could create another), and the number of coins is finite, then having it behave as a “digital gold” was at least possible. But when there became 100s of such crypto currencies, and any amount of new ones could be created, it should have be obvious to anyone that “no crypto” could be fundamentally a store of value. No scarcity, no store.
– With “real world” money starting to come in and no regulation, all manner of illegal scams could be perpetrated. Price fixing, artificially raise prices, collusion. All to draw in the naive “investors”.
– I am sure some did get “in early” and “cashed out” after a significant multiple, and that is good on them. They gambled correctly. But that would not be the majority, and hence Garth’s story. The few I know that claimed to have purchased (who really knows) were so adamant about it reaching 100K per coin, why would they have cashed out at 20K, or 15K, or 10K? They rode it up, and they are riding it down.
– Bitcoin does have some uses, for clandestine purchases or exchanges, such as drugs, arms, etc. So potentially not worthless…

#85 Tenugi0 on 01.28.19 at 11:06 pm

#58 Figure it Out

Probably one of the best comments I’ve read here in a long while.

#86 Ex-Cowtown on 01.28.19 at 11:29 pm

Aw c’mon Garth! How can you delete my post just because Scoldin’ Kamala Harris said something racist and sexist in a tweet and I chose to make fun of it?

#87 Lorne on 01.28.19 at 11:58 pm

“As if Comrade Premier Horgan and his eat-the-rich finance minister were not enough”
………
Pretty nasty description from someone who does not live in the province and does not fully appreciate the damage the previous regime inflicted on the citizens of BC. David Eby is doing a superb job of getting to the bottom of much of the corruption and this is appreciated by the majority in the province.

#88 Gg on 01.29.19 at 1:08 am

Anyone with a spark would be selling bitcoin at 10k, not buying it.

#89 KimSum on 01.29.19 at 1:35 am

Gold ETFs have done fantastically well recently and projected to do well as the FED stalls on rates, and NK nukes lead to a war in the PacRim

#90 Ponzius Pilatus on 01.29.19 at 2:01 am

I did a survey of the blogers on this pathetic blog.
The question was:
How many paragraphs do you read per comment.
Result:
90% scrolled after the 1st paragraph.
Lesson:
Posters, keep your comments short and concise.

#91 Steve French on 01.29.19 at 2:22 am

Check out what the Chinese government just called Canadians…

As a bunch of… women of ill repute…

http://www.globaltimes.cn/content/1137218.shtml?fbclid=IwAR10gQHtH2aQitcPDwX65lf46tmVminqpPTX0o6w8vfvC-5wJycVXAxb4Yo

#92 Nonplused on 01.29.19 at 3:28 am

Yesterday some commentors took to calling President Trump a “pathological” liar. Yes, he may well be. But reflect on your own life. You are too. Yes, you are. You lie about everything. You lied to your wife when you said you never cheated, you lied to the cop when you said you only had one beer, you lied to the bank when you stated your income. You lied to the judge when you represented how much you could pay in child support. I’ve seen you both, as friends and enemies, and you have all lied about everything.

There are no honest people.

#93 Jimers on 01.29.19 at 5:43 am

You’ve got to know when to hold ’em
Know when to fold ’em
Know when to walk away
And know when to run

Paid off my mortgage and now debt free thanks to crypto profits.

#94 NoName on 01.29.19 at 6:30 am

Interesting read, i guess robots are to blame…

https://www.brookings.edu/blog/up-front/2019/01/25/digital-transformation-and-the-g-20-a-wake-up-call-for-policymakers/

Paradoxically, as new technologies boomed in recent years, productivity growth, which is the main driver of long-term economic growth, slowed rather than accelerated in the major economies. The benefits of the new technologies have been captured largely by a few big firms. Market concentration, monopoly power, and monopoly rents have increased. Productivity growth has stagnated in the vast majority of other firms. At the same time, workers have faced job and wage losses, as the new technologies favored capital and shifted demand from low and middle level skills to higher level skills. As a result, long-term economic growth has slowed and income and wealth inequalities have increased, fueling today’s societal discontent, political backlash, and rising populism.

#95 theoryAndPractice on 01.29.19 at 7:47 am

BTC’s underlying technology could be useful as medium of exchange. But Hey, why not speculate that one too, too much at stake otherwise.

#96 Godth on 01.29.19 at 7:51 am

#83 Deplorable Dude
hey look, we have satellites and it’s colder over parts of n.america and siberia than it is over the geographic pole.
https://earth.nullschool.net/#current/wind/surface/level/overlay=temp/orthographic=-86.11,95.18,296
the jet streams are a mess, even crossing the equator which only started happening a couple years ago. where’s the polar vortex? https://earth.nullschool.net/#current/wind/isobaric/250hPa/orthographic=235.78,-1.42,296/loc=-103.927,89.798
http://nsidc.org/arcticseaicenews/
but, but some guy named tony wrote a blog and cherry picked what i want to hear.
maybe you should take advantage of a new opportunity and take an arctic cruise in the summer, couldn’t do that when we were kids. https://www.google.com/search?q=arctic+cruise&oq=arctic+cruise&aqs=chrome..69i57j0l5.6865j0j8&sourceid=chrome&ie=UTF-8
or you could go have a look at the great barrier reef and tell it all about decades of cooling.
https://www.youtube.com/watch?v=Rmkyj9qghGY

#97 Godth on 01.29.19 at 8:04 am

“They actually believed money could be manufactured privately, be free of central bank control, independent from government, untaxed, devoid of interest and yet be a medium of exchange. It was a scam. As usual, a small number of people got filthy rich.”
Banks create money out of nothing – Prof Steve Keen
https://www.youtube.com/watch?v=rfoFyRJat58
lmao

#98 georgist on 01.29.19 at 8:08 am

Most bitcoin fans are stuck in no-man’s land.

They exist between the knowledge that banks create money, at the state’s mandate, and the greater realisation that the state will never give up it’s right to control it’s sovereign currency.

Bitcoin is a dumb idea. It’s typical of our times:

1. no trust in institutions to form a network of trust
2. largely speculative
3. hugely inefficient
4. yet another IT “solution” looking for a problem

Anyone who seriously thought bitcoin would replace USD needs to read a lot more on currency than one zerohedge article.

#99 Tater on 01.29.19 at 8:21 am

#28 expat on 01.28.19 at 6:39 pm
#7 espressobob wrote
Bitcoin is a commodity, not a currency and thats the point. Goldbugs won’t admit to the errors of their ways either. It must be hell.

Some learn from their mistakes and a few never do. Amusing.

What errors?

I’ve owned silver for 45years at 5 bucks an ounce….
I’ve owned Gold from 200-300 an ounce for 45 years….

I still have it… In fact many of my extended family pass it down as a asset from generation to generation.

checked the price lately fool – amusing indeed when one takes a longer view. It has been a store of value across generations.
—————————————————————-

Your kids should slap you for your wealth destruction. Every ounce you bought at $250 in 1973, is now worth $1,370. Had you put that money in the S&P instead, you’d have $18,200. What a fantastically dumb trade.

#100 crowdedelevatorfartz on 01.29.19 at 8:25 am

@#75 Barb

“the Honourable speaker…..”
++++
Please
How soon we forget immediately after these two people were escorted from the Leg …. Plecas tried to get one of his friends installed as a temporary Sgt at Arms…..

https://vancouversun.com/news/politics/speaker-tried-to-appoint-friend-as-new-sergeant-at-arms-for-b-c-legislature

Obscene doesnt even begin to describe the rot in the Bc Legislature, Vancouver City Hall, Parliament……

Never mind a Wall.
Lets just build prisons for corrupt politicians and jail them by the hundreds.

“Honourable” is the last thing to come to mind….

#101 crowdedelevatorfartz on 01.29.19 at 8:27 am

@#82 IHCTD9
“There is voluminous pile put out every day, and it’s free. I like free because the tax burden on $0.00 works great for a guy like me.”

+++++

Good one.

#102 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 01.29.19 at 8:27 am

STOP THE PRESSES!

Pathetic Torunturds have awoken to a little bit of snow, close to what Real Canada gets many times every winter.

How will they survive!?

https://www.youtube.com/watch?v=RybNI0KB1bg

Maybe you should shut down the blog for today, Garth. Call in the army. Call in NATO. Call in Brad Lamb (he’s an excellent shoveller, though not of snow)

Toronto needs HELP!!!!!!!!!

They are SPECIAL!!!!!!!!!

On the brighter side, Toronturds, an entire weekend has passed without the Make Believes losing a game!

Because it was the All Star break – though they have lost recently 6 of 7 home games – what a way to treat the dupes, eh!

And today, yet again Be-Leafers, your mismanagement team has traded away the future, its 2019 first round pick and two prospects, for a nondescript defenceman no one cares about.

Hurray :(

Leafs management are just like the house horny GTAholes who gamble everything on one asset, then max out their HELOCS for more, never planning properly for the future.

Toronto deserves the Leafs and its housing meltdown.

And yes, a little snow.

(Hey Toronturds – email me, I’ll trade you a snow shovel (since you spend all your spare HELOC money at Starbucks) for 2 Bitcoins each – great deal!)

#103 Godth on 01.29.19 at 8:30 am

modern money theory (mmt) is only describing what is happening, not advocating for anything new – simply myth busting.
there’s never a shortage of money for never ending war. “deficits don’t matter” dick cheney
Steve Keen: Does Modern Monetary Theory make sense?
https://www.youtube.com/watch?v=QyzKblOtZjg
Mark Blyth: Why Do People Continue To Believe Stupid Economic Ideas? – Full Talk (April 2017)
https://www.youtube.com/watch?v=lq3s-Ifx1Fo
Mark Blyth Devastates Congress’ Approach to Budget
https://www.youtube.com/watch?v=D2rXFNx37MA

#104 Balmuto on 01.29.19 at 8:32 am

Don’t buy Bitcoin – it’s going to crash:

https://youtu.be/XbZ8zDpX2Mg

#105 Remembrancer on 01.29.19 at 8:36 am

#7 espressobob on 01.28.19 at 5:23 pm
Bitcoin is a commodity, not a currency and thats the point.
————————————————————–
Bitcoin has more in common with a Chuck E. Cheese token then a commodity (a raw material or primary agricultural product that can be bought and sold…).

#106 Braj on 01.29.19 at 8:36 am

#17 Peter in T.O on 01.28.19 at 6:04 pm
Bought Bitcoin in 2012, still holding most of it.

The blockchain will only serve as a protocol base layer for the coming revolution of middle-layer applications running on top of it.

Make your speculations today, because this isn’t going away.

***

What the non-tech oriented of this blog do not see, this includes the Bearded One.

I said clearly the Bitcoin bubble/bust had nothing to do with the future of Blockchain technology. Read harder.- Garth

#107 Steven Rowlandson on 01.29.19 at 8:53 am

“But it’s wiped the floor with fools who thought crypto currencies created out of nothing, backed by nothing and regulated by nobody were worth billions.”

Bad habits and idiotic ideas die hard Garth. Rest assured in this world there are plenty of true believers in things like crypto currency and global warming/ climate change is mans fault. The bigger the lie the more faith people have that the lie is the truth especially if there is a lot of power ,money and popular people supporting the lie and those who tell the lie.

#108 Ex-Cowtown on 01.29.19 at 9:20 am

“The average Joe doesn’t sign up for his employer’s retirement savings matching program…”

+++++++++++++++++++++++++++++++++

Sorry, you lost me there. The average Joe doesn’t get an employer RRSP program. Probably doesn’t even get enough hours at one job to qualify as full time status either. So much for medical or dental benefits.

The governing elites make sure that they get all of that, and much, much more. And the Average Joe gets to pay for it. Small example:

I pay both the employers and employees portion of CPP because I’m self-employed. Pay twice, collect only once. Massive rip off.

And that’s just the tip of the iceberg. I wish I had the same medical dental vacation and retirement package as the average government employee. But I do get to pay for theirs!

That’s what put Trump in the White House and the Yellow Vests onto the streets of Paris and now other cities.

#109 dharma bum on 01.29.19 at 9:44 am

#93 Jimers

Paid off my mortgage and now debt free thanks to crypto profits.
——————————————————————–

Wow. That’s lucky. Or smart, if you saw the collapse coming.

Unfortunately, a lot of gamblers ‘let it ride”, and got stung.

Either way, I dunno what all the fuss and worry is about.

I hear that Jesus will save everyone from everything, and all will be well for evermore. I heard it from some old white dude on the TV. He was yelling and sweating and waiving his arms around.

Praise the lord.

#110 Howard on 01.29.19 at 9:55 am

You speak of the low vacancy rate. Well, what’s your solution?

The only ways to raise the vacancy rate are:
– slash immigration and foreign students significantly
– launch massive construction of new rental buildings
– nationwide paradigm shift to remote working, relieving people of the necessity of living in the big city cores to avoid long commutes

I’m guessing the first option doesn’t appeal to you.

The second option takes years, decades even, to level the playing field between owner and renter.

The third option is overrated, at least in Canada; companies seem reluctant to allow large percentages of their employee base to work entirely remotely. Boomer bosses prefer ordering people around in person – it’s an ego boost for them.

So what do you want? The new taxes at least help fund the government by tapping the only individuals still capable of paying : Lower Mainland owners who won the birth and location lotteries.

#111 n1tro on 01.29.19 at 10:12 am

#25 Guy in Calgary on 01.28.19 at 6:24 pm
BTC is backed by gold, COMEDY GOLD!
———————————–
Paper money is backed by the promises of government that they will run the country in a responsible manner so that the money doesn’t lose value.

^ How has that gone so far for all the past currencies in history?

Paper money is also backed by the fact that the government can tax you and give it to others (including themselves).

^ Where do I get behind this progressive ideology??

#112 Blacksheep on 01.29.19 at 10:12 am

Don # 70,

“Again you are trying to pull the wool over people’s eyes.

The Honourable Mr. Plecas is/was being recalled by his own party as he would not stand for corruption. The Press was in Abbotsford and couldn’t find a voter that thought he should be recalled. On the the corrupt BC Liberals were trying to recall him for having morals and integrity. Try reading something other than press releases from your local corrupt BC Liberal MLA. FFS!

Get your head out of the sand.”
—————————————–
“A conflict of interest case was turned down by B.C.’s Conflict of Interest Commission last week saying Attorney General Dave Eby, who tabled the legislative changes, was not currently the target of a recall campaign so thus was not in conflict.

Will the B.C. Liberals re-file with the Conflict of Interest Commissioner should Eby face a recall campaign?

“At this point there is other things we might be considering on that.”

Another potential recall target is the Speaker of the House, and now independent MLA in Abbotsford South, Darryl Plecas.”

https://www.radionl.com/2018/11/13/liberals-say-the-fix-might-be-in-with-changes-to-recall-legislation/
——————————-
The fragility of the NDP’S situation, had the them trying to tweak the recall funding regs, do to the fact Eby’s and Plecas’s betrayal of the voting public, made them both targets for a recall.

Good job NDP, first weasel your way into power and then try to change the rules, to avoid getting kicked out by the very people that elected you?

As for Plecas saving his own ass, (just like taking the speaker position, diss honoring a pact not to) it just may have worked:

https://vancouversun.com/news/local-news/spending-scandal-report-could-shift-public-opinion-of-darryl-plecas

There are many ways to describe Daryl Plecas’s behavior, but honorable, is definitely not one of them.

Who’s trying to fool, who?

#113 Ronaldo on 01.29.19 at 10:13 am

#105 Remembrancer

Bitcoin has more in common with a Chuck E. Cheese token then a commodity (a raw material or primary agricultural product that can be bought and sold…).
——————————————————————-
LOL, so true.

#114 Smoking Man on 01.29.19 at 10:16 am

#79 Steve French on 01.28.19 at 9:51 pm
Smoking Man:

You’re on the right track with your observations from yesterday, but The Donald will not save you.

– Frenchie.

Trump lacks decorum. Big woop. His tax cuts and deregulation has brought the lowest unemployment rate in history.

Thanks to Mad Max T2 gets another 4 years.
T2 has plenty of decorum and is going to turn Canada into a 3rd world country. He’s going to suck every last dollar from Canadians. And the teachers and students will chear till he runs out of other people’s money. Then the will be coming for his head.

I being of superior intellect have put 95% of my loot out of his reach.

Steve you spent far to many years on campus.

#115 Tater on 01.29.19 at 10:17 am

#108 Ex-Cowtown on 01.29.19 at 9:20 am
“The average Joe doesn’t sign up for his employer’s retirement savings matching program…”

+++++++++++++++++++++++++++++++++

Sorry, you lost me there. The average Joe doesn’t get an employer RRSP program. Probably doesn’t even get enough hours at one job to qualify as full time status either. So much for medical or dental benefits.

The governing elites make sure that they get all of that, and much, much more. And the Average Joe gets to pay for it. Small example:

I pay both the employers and employees portion of CPP because I’m self-employed. Pay twice, collect only once. Massive rip off.
—————————————————————-
No, you get the same benefit as any other contributor based on the same amount of contributions. Why do you think you should be able to contribute half, just because you are self-employed?

#116 Figure it Out on 01.29.19 at 10:18 am

“I pay both the employers and employees portion of CPP because I’m self-employed. Pay twice, collect only once. Massive rip off.”

I addressed this when I wrote “Uses software instead of a pencil to do his taxes, so instead of figuring out how to structure his affairs to pay the least, he pays the most and bitches about it.”

#117 Ronaldo on 01.29.19 at 10:21 am

#82 IHCTD9 on 01.28.19 at 10:37 pm

There is a local plant in town that makes stuff out of wood, they bundle up the edging and put it outside for all the wood burners to take (kindling). This stuff is bark free and kiln dried – 100% perfect for a rocket stove type heater.

There is voluminous pile put out every day, and it’s free. I like free because the tax burden on $0.00 works great for a guy like me.
———————————————————–
In the late 50s and early 60s when we burned wood for heat we used to go to the local mills and gather mill ends and they were quite happy to see us take them otherwise they went into the burner. Not any more.

#118 Figure it Out on 01.29.19 at 10:22 am

“The blockchain will only serve as a protocol base layer for the coming revolution of middle-layer applications running on top of it.”

The two killer applications for blockchain are already here: Management consulting, and fraud. I predict that no other use will be found that couldn’t be done better, faster and cheaper with a central database, or the current financial system.

#119 not 1st on 01.29.19 at 10:36 am

I predict a technology backlash in the future. Sure there is cool tech but at the expense of facebook, google and the like track me, inundate me with ads and then trying to fry me with 5G. At the end of the day is my life that much better with this junk. Same as bitcoin and block chain. Might fire my landline up again.

We already have a currency in circulation. I don’t like central banks but I would rather have them presiding over our money than a bunch of horny nerds in basements all over the world.

#120 LivinLarge on 01.29.19 at 10:49 am

“Yesterday some commentors took to calling President Trump a “pathological” liar. Yes, he may well be. But reflect on your own life. You are too. Yes, you are. “…no they’re not. Yes it seems that everyone tells a lie “now and then” when it suits their objectives but The Don lies over and over every single day for no benefit. That’s what makes his lies “pathalogical. He just can’t stop himself…he thinks people actually believe the lie.

#121 IHCTD9 on 01.29.19 at 11:19 am

#117 Ronaldo on 01.29.19 at 10:21 am

In the late 50s and early 60s when we burned wood for heat we used to go to the local mills and gather mill ends and they were quite happy to see us take them otherwise they went into the burner. Not any more.
___

My Dad burned wood all his life. Right up till the 80’s and early 90’s, farmers would let you take standing dead and dead fall off their fence lines and forests and be happy to see the work done by others.

Today, wood is too valuable, and markets have found profitable use for it in just about any form. Same goes for used motor oil, used catalytic converters, and used tires. These once cast-offs are now sold for feed stock into new innovative products.

But small scale innovation continues thanks to folks discussing options on the internet. These edgings I mentioned are small, you won’t find anything bigger than 2″ x 2″. This kind of stuff is still pretty useless for most folks – but rocket stoves need exactly this kind of fuel, that’s probably why they’ve become so popular. Once again, we have a fuel that no one wants, and a great way to utilize it.

#122 Penny Henny on 01.29.19 at 11:24 am

#50 Not so sure on 01.28.19 at 7:34 pm
#36 My dad is 75 and is worth several ill gotten real estate millions. He has re, cash and investments and still defers the tax because he cannot afford it. It’s hilarious.
///////////////////////

You Dad sounds smart deferring the tax. You? Not so sure.

#123 n1tro on 01.29.19 at 11:39 am

#118 Figure it Out on 01.29.19 at 10:22 am
“The blockchain will only serve as a protocol base layer for the coming revolution of middle-layer applications running on top of it.”

The two killer applications for blockchain are already here: Management consulting, and fraud. I predict that no other use will be found that couldn’t be done better, faster and cheaper with a central database, or the current financial system.
———————————-
The 3rd killer app is already made and soon to be released. I helped create the world’s only fully decentralized peer to peer betting platform.

Don’t mind the betting aspect. Think about it. A contract between 2 people without the need for a (potentially corrupt) central authority (ie. Paypal for those who have been burned as a seller or buyer on eBay). The trustless 3rd party holds each person’s stake has the elements of a legal contract (offer, acceptance, and consideration).

When both party agrees to the outcome of a bet, the funds are transferred to the winner’s wallet. Transactions earn rep points for both users.

Have a dispute because 1 side is a sore loser? Arbitration goes to the platform’s community and to specifically to a high rep user to decide.

What about the volatility of the “fake money” (ie. crypto)? There is nothing stopping a dev to take the open source code of the platform and binding it to a stablecoin (crypto currency tied to fiat which doesn’t flucuate).

#124 James on 01.29.19 at 11:54 am

#114 Smoking Man on 01.29.19 at 10:16 am

#79 Steve French on 01.28.19 at 9:51 pm
Smoking Man:
You’re on the right track with your observations from yesterday, but The Donald will not save you.

– Frenchie.
Trump lacks decorum. Big woop. His tax cuts and deregulation has brought the lowest unemployment rate in history.
Thanks to Mad Max T2 gets another 4 years.
T2 has plenty of decorum and is going to turn Canada into a 3rd world country. He’s going to suck every last dollar from Canadians. And the teachers and students will chear till he runs out of other people’s money. Then the will be coming for his head.
I being of superior intellect have put 95% of my loot out of his reach.
Steve you spent far to many years on campus.
_________________________________________
You do not have superior intellect Old Man your just simply a Canadian living abroad and working in California. A Canadian who has hidden his earnings from The Canada Revenue Agency in the Caribbean on an Island. Most likely the Cayman Islands or St. Vincent and the Grenadines. Tax evasion is deliberately ignoring a part of tax law. Examples include misrepresenting your income, claiming expenses that are non-deductible or overstated, or refusing to comply with reporting requirements. Tax evasion also includes knowingly providing a false statement on a tax return as well as destroying, altering or disposing of books or records. By law you are required to report your earnings to the Canada Revenue Agency if you still have ties to this country.
I’m willing to make a wager that you Old Man and your wife still have valid health cards therefore you are tethered to this country and must report. Don’t believe me check it out. I know this from living in your state for many years.

http://madanca.com/blog/canadians-working-abroad-overseas-outside-canada-tax-implications/

#125 Headhunter on 01.29.19 at 11:59 am

#115 Tater on 01.29.19 at 10:17 am
No, you get the same benefit as any other contributor based on the same amount of contributions. Why do you think you should be able to contribute half, just because you are self-employed?

_____________________________________

very good point imho, when the employer contributes (maybe a multiplier 1.4 or E.I. one of the 2)
The employee doesnt see it but it is still a cost to the employer and the end user of product or service. maybe $$$ that could be put in your pocket?

Employers pay less based on some of these factors

If the employer paid you that $$$ and then the gov’t doubled your contributions there would be blood in the street.

thats how they hide it from you.

#126 Stan Brooks on 01.29.19 at 12:01 pm


#15 wallflower on 01.28.19 at 5:58 pm
WARNING: IF you are offered a job here, or anything to do with Vancouver of Victoria – DO NOT ACCEPT the gig. You can’t even find a Doctor in Victoria.

hahahaha

You cannot find a doctor in ONTARIO.
I finally obtained one who won’t take patients who are on narcotics (what if you need to be on narcotics) and only offers Mon to Fri morning hours.

This cannot not be true.

We have the best health care system on the planet, far better then all others.

And it is free.

============================

As every faith based system bitcoin has it’s corresponding value. What is it? Don’t know, but so far it performed pretty well for a Ponzi scheme.

I would not be surprised if it survives and even appreciates against the loonie, considering who is behind the last, some might have trust in bitcoin, it would not be surprising at all. Don’t forget, the loonie is worth exactly one squared centimeter of a crappy condo in Toronto as a start, then you start paying the maintenance fees and property taxes.

#127 Godth on 01.29.19 at 12:02 pm

#111 n1tro
“^ Where do I get behind this progressive ideology??”
https://en.wikipedia.org/wiki/Military_budget_of_the_United_States
https://www.downsizinggovernment.org/agriculture/subsidies
https://en.wikipedia.org/wiki/Energy_subsidies
http://chicagopolicyreview.org/2016/06/08/influencing-innovation-governments-role-in-subsidizing-rd/
https://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
shall i continue?
grow up. your ideology is that of a greedy pig.

#128 Tater on 01.29.19 at 12:07 pm

#123 n1tro on 01.29.19 at 11:39 am
#118 Figure it Out on 01.29.19 at 10:22 am
“The blockchain will only serve as a protocol base layer for the coming revolution of middle-layer applications running on top of it.”

The two killer applications for blockchain are already here: Management consulting, and fraud. I predict that no other use will be found that couldn’t be done better, faster and cheaper with a central database, or the current financial system.
———————————-
The 3rd killer app is already made and soon to be released. I helped create the world’s only fully decentralized peer to peer betting platform.

Don’t mind the betting aspect. Think about it. A contract between 2 people without the need for a (potentially corrupt) central authority (ie. Paypal for those who have been burned as a seller or buyer on eBay). The trustless 3rd party holds each person’s stake has the elements of a legal contract (offer, acceptance, and consideration).

When both party agrees to the outcome of a bet, the funds are transferred to the winner’s wallet. Transactions earn rep points for both users.

Have a dispute because 1 side is a sore loser? Arbitration goes to the platform’s community and to specifically to a high rep user to decide.

————————————————————
Can anybody spot the not-supposed-to-be-needed central intermediary in this story?

#129 Stan Brooks on 01.29.19 at 12:10 pm

#124 James on 01.29.19 at 11:54 am

Are you a very confused person or not.
The guy has no assets in Canada. He is not resident for tax purposes and he is not obligated to report out of country income while non resident.

Health card is attached to the residence not the other way around.

#130 Rifles on 01.29.19 at 12:22 pm

Then again Fidelity, $2.5trn AuM, has launched bitcoin custodian and trading services (Google the remarks of Abigail Johnson, CEO for details). Goldman is also getting involved in bitcoin futures trading. In fact the list of major financial institutions dipping their toes in the crypto swamp is growing, not diminishing. The biggest issue they have is reputational risk and the danger of being first out of the gate with product. The infrastructure is being built and while roll out may be tentative for now, it is wrong to dismiss the crypto phenomenon outright as Garth does here.

#131 Godth on 01.29.19 at 12:41 pm

all this socializing costs, privatizing profits, extreme inequality and far right ideology is going to end the way it always does – violence (hello yellow jackets). the next downturn is inevitable and we won’t have to wait long, it’s here already in canada and other mature economies that escaped 2008 which is now us. the jig is up, and all by barely closing the easy credit floodgates.
Professor Mark Blyth on Post-WW2 Economics and Neoliberalism
https://www.youtube.com/watch?v=8rxrjhWTdv8

#132 n1tro on 01.29.19 at 1:01 pm

#128 Tater on 01.29.19 at 12:07 pm

————————————————————
Can anybody spot the not-supposed-to-be-needed central intermediary in this story?

^ What are you going on about?

#133 Shawn Allen on 01.29.19 at 1:10 pm

EX-Cowtown please explain more about CPP

Ex-Cowtown at 108 complained:

“I pay both the employers and employees portion of CPP because I’m self-employed. Pay twice, collect only once. Massive rip off.”

*****************************************
I’m interested in how much choice there is in that.

I will let others argue about who pays the employer’s portion of CPP for most workers. I have a different question.

I have a small business and have the choice of paying myself in dividends, regular earnings (subject to double CPP) or (if all the earnings are not needed for spending) leave the earnings in and invest and take out later as dividends or capital gains.

Now it seems to me that the ability to leave some earnings in there and potentially convert some labour income to dividends (potentially taxed lower depending on if small business tax plus my tax on dividends is lower than tax on regular income) is beneficial. There may or may not be substantial benefits as well to allowing earnings to remain in the corporation and be invested for capital gains thus deferring income for years.

The point is there are choices. If you don’t value CPP when paying double, would you be better off to take the income as a dividend? And is it not great to have that choice?

Do most self employed people pay the double CPP or do they choose the dividend route? Do they in fact have the free choice there?

#134 n1tro on 01.29.19 at 1:11 pm

#127 Godth on 01.29.19 at 12:02 pm
#111 n1tro
“^ Where do I get behind this progressive ideology??”

shall i continue?
grow up. your ideology is that of a greedy pig.
————————
Your links are suppose to prove what? That the government taxes the people to use it for different things. Some useful, some wasteful. How does that relate to the conversation that the original poster claimed that Bitcoin is backed by comedy gold?

My point was currencies are backed by a belief that a central authority will use the funds collected for the good of the people which isn’t the case in lots of examples.

I’m not going to get drawn into a silly “taxes pay for essential services” while leaving out that the transfer is highly inefficient.

So if I have a “greedy” pig mindset, Thank you for the compliment. I like to avoid trading my valuable time for paper currencies which buys me less and less every year. I think that is why the majority of the people here listen to Garth as they try to beat the devaluation of holding dead cash.

I’m sure you are the second coming of Jesus and give away your money to the poor. Feel free to pay for my share.

#135 James on 01.29.19 at 1:14 pm

#129 Stan Brooks on 01.29.19 at 12:10 pm

#124 James on 01.29.19 at 11:54 am

Are you a very confused person or not.
The guy has no assets in Canada. He is not resident for tax purposes and he is not obligated to report out of country income while non resident.

Health card is attached to the residence not the other way around.
___________________________________________
Hey Stan please read the details. The guy clearly returned to Canada every couple of months to maintain his health card. I would venture he uses one of his children’s address for his documentation. Apparently his children reside in Canada. If you also recall on this blog several years ago he boasted of maxing out his RBC card and purchasing an SUV in Canada where was going to basically not pay them. If you believe that I have some land for you to purchase. Therefore he has an RBC credit card and account! Now read below but make sure you read right to the bottom.

If you are a Canadian working aboard, whether permanently or temporarily, there are many tax implications involved. Find out what tax consequences you should consider if you are permanently or temporarily working aboard or overseas outside of Canada.
Canadians Working Abroad, Overseas, Outside Canada – Permanently:
A Canadian who is permanently working overseas must determine their residency status. You must determine if you are a resident of Canada, or a non-resident of Canada. The CRA (Canadian Revenue Agency) looks at three primary factors when determining your Canadian residency status.
1. The first is where your permanent home is located;
2. The second, is where your spouse and/or common law partner and children live; and
3. The Third Factor is where you live.
Let’s take the example of John Smith who left Canada 13 years ago to work and live in the United States. His permanent home (number 1) is in the United States. His wife and two children (number 2) are in the United States; and John lives in the United States (number 3). In this case, John Smith is clearly a non-resident of Canada.
The secondary factors that the CRA looks to in determining whether Canadians working outside Canada are residents of Canada are:
1. Canadian driver’s license
2. Bank account and credit cards
3. Investments in Canada (e.g. RRSPs, TFSAs, Canadian pension, brokerage account, etc.)
4. Health cards
5. Social ties (e.g. membership in community club, professional organization, etc.)
6. Personal possessions (e.g. furniture, household appliances, vehicles, clothing, etc.)
A single secondary tie, by itself, will not cause you to remain or become a non-resident. When examining the secondary ties and their impact on your Canadian residency status, you must evaluate the ties as a whole.
For example, assume that John Smith (in the example above) continues to maintain many secondary ties to Canada, including:
1. Honda civic
2. Drivers licence
3. bank account at Royal Bank, and TD Bank
4. Visa and Master Card
5. Furniture, kitchen appliances, washer/dryer, and clothing
6. Membership in Toronto Golf Premier Club
7. Health card (not relinquished)
8. 3 brokerage accounts for trading stock at Scotia Bank
9. RRSPs, TFSAs
10. $2 million life insurance policy with Sun Life Canada

Since John Smith has many secondary ties to Canada, he may be considered a resident of Canada for tax purposes, and would therefore be taxable in Canada on his worldwide income.

#136 Figure it Out on 01.29.19 at 1:18 pm

So your elevator pitch is “Paddy Power on the blockchain with dogecoin instead of real money.” Gotcha.

#137 Tater on 01.29.19 at 1:18 pm

132 n1tro on 01.29.19 at 1:01 pm
#128 Tater on 01.29.19 at 12:07 pm

————————————————————
Can anybody spot the not-supposed-to-be-needed central intermediary in this story?

^ What are you going on about?
—————————————————————
How does this: “Think about it. A contract between 2 people without the need for a (potentially corrupt) central authority”

Lead to this: “Arbitration goes to the platform’s community and to specifically to a high rep user to decide.”

And square with the idea that there ISN’T a trusted intermediary? This service already exists. It’s an online bookie. There’s literally hundreds of them and your idea adds nothing.

The fact that you spent time and, probably, money on this is just sad.

#138 Blacksheep on 01.29.19 at 1:18 pm

Barb # 75,

“Really? REALLY?

The Honourable Speaker is a criminologist and holds two degrees, as well as considerable police experience, which would naturally include all manner of law enforcement tactics.

Plus he explains–more than adequately (to me anyway) within his 75-page report–of his trips and that he didn’t avail himself of taxpayer-paid gifts.”
Yes he went with them (which he also explained).
Ergo you equate him with the “bad guys”.

It’s unfortunate SFU was chock-full when you applied to take those classes. Perhaps higher grades would’ve gotten you in.”
————————————
Aww…isn’t that cute, you tried to get personal cause your argument lacks content.

So your stance is, because a party is educated, they are automatically honourable? Let me dispel that myth via a direct quote from Mr. D himself:

“The notion of us (the Liberals) putting up someone for Speaker under the current circumstances is ridiculous,”

“Plecas told Postmedia News columnist Mike Smyth at the time.”

“In fact, I would go further to say that it would be an outright manipulation of the democratic process.”

https://vancouversun.com/news/local-news/five-things-about-new-b-c-speaker-darryl-plecas

Wow, that is a pretty strong statement. I wonder what could have possibly changed his mind? ($$$) Stop being naive, Left or Right it matters not, they are all for sale if the treats get sweet enough.

Yes…really.

#139 Smoker's Hero Has His Back on 01.29.19 at 1:18 pm

https://www.youtube.com/watch?v=Evl3IRgYuEM

#140 Howard on 01.29.19 at 1:26 pm

#122 Penny Henny on 01.29.19 at 11:24 am
#50 Not so sure on 01.28.19 at 7:34 pm
#36 My dad is 75 and is worth several ill gotten real estate millions. He has re, cash and investments and still defers the tax because he cannot afford it. It’s hilarious.
///////////////////////

You Dad sounds smart deferring the tax. You? Not so sure.

———————————————

Way to miss the point. Try again?

#141 n1tro on 01.29.19 at 1:46 pm

#137 Tater on 01.29.19 at 1:18 pm
132 n1tro on 01.29.19 at 1:01 pm
#128 Tater on 01.29.19 at 12:07 pm

————————————————————
Can anybody spot the not-supposed-to-be-needed central intermediary in this story?

^ What are you going on about?
—————————————————————
How does this: “Think about it. A contract between 2 people without the need for a (potentially corrupt) central authority”

Lead to this: “Arbitration goes to the platform’s community and to specifically to a high rep user to decide.”

And square with the idea that there ISN’T a trusted intermediary? This service already exists. It’s an online bookie. There’s literally hundreds of them and your idea adds nothing.

The fact that you spent time and, probably, money on this is just sad.
————————–
The trustless intermediary is the smart contract holding the funds between the 2 people and automatically releasing it based on the mutual concensus of the original 2. The majority of transactions are not going to be a dispute just like in business today. But if there is, there is a workflow to resolve the dispute just like in business today.

One of the main reason why PayPal got sued and settled was that it arbitrarily decided behind closed doors on disputes which screwed both the seller and buyer. I would think that removing such an obstacle to commerce is a good thing.

If the community arbitration doesn’t work, the immutable blockchain holds the details of the contract which can be taken into the legal setting for a judge to settle rather quickly.

People seem to hate on crypto because they think it is suppose to replace their precious paper money but I’ve shown here how the application of the technology is beneficial. I can see why PayPal would hate on it but not sure why there is so much hate coming from you?

As for my time or money being wasted, what concern is it of yours. I’m not flogging the platform by naming it but rather explaining the logic behind it. The only money being collected by the platform is a small dev and actual gas fee. I’m not a dev btw so I get nothing. Did I also mention that it is open sourced so others can build on top of it?

If you don’t see the problem that it solves, then move on.

#142 Deplorable Dude on 01.29.19 at 1:49 pm

#96 Godath….

Hey check out IPCC’s own 1995 report, page 148.

Loookeee here…..no troproposphere Warming From 1958 To 1995….hmmmm? Same also applies from 1980 to 2000. All mysteriously vanished from recent IPCC reports? Not too mention the heatwave in the 1930/40’s….

http://web.archive.org/web/20100724163537/http://www.ipcc.ch/ipccreports/sar/wg_I/ipcc_sar_wg_I_full_report.pdf

Glad I didn’t pay for this Arctic summer cruise….

https://www.adn.com/arctic/2018/09/23/ice-returned-to-the-northwest-passage-this-summer-forcing-cruise-lines-to-change-course/

Arctic sea ice still too thick for regular shipping route through Northwest Passage…..

https://www.sciencedaily.com/releases/2015/09/150929125437.htm

This one is hilarious…..Large Canadian Arctic climate change study cancelled due to climate change…..

https://www.sciencedaily.com/releases/2017/06/170613150651.htm

40 years ago the Polar vortex was being blamed for global cooling, now it’s blamed for warming…these ‘climate scientists’ can’t make their minds up…..

https://www.nytimes.com/1978/01/05/archives/international-team-of-specialists-finds-no-end-in-sight-to-30year.html

Brought to you by Climate Alarmists whose salary depends on THEM telling YOU that natural climate cycles ARE ALL YOUR FAULT…..

#143 LP on 01.29.19 at 1:54 pm

#138 Blacksheep on 01.29.19 at 1:18 pm

…Left or Right it matters not, they are all for sale if the treats get sweet enough.
************************************
It truly raises my hackles when someone generalizes as widely as you have. Whether it’s about teachers, cops, other civil servants, the effect is the same. Yes, there are some bad apples but never, NEVER, can it be said that all of a particular group are bad apples.

Going forward maybe you can pull in your horns just a little.

F71ON

#144 n1tro on 01.29.19 at 1:55 pm

And square with the idea that there ISN’T a trusted intermediary? This service already exists. It’s an online bookie. There’s literally hundreds of them and your idea adds nothing.
——————–
Forgot to address this point. Like I said in my original post. Set aside the betting aspect and focus on the trustless (not to be confused with “trusted intermediary”) that the smart contract solves.

Before the US made it legal, gamblers would go to Western Union, wire $999 to the Cayman Islands, message their bookie who they have to trust to credit their account so they can bet. Then if they won, the money would be sent in a form of a cheque from a fake company and the gambler would lie to the authorities of the income source.

The smart contract/blockchain does not need the gambler to trust a third party and the payout is recorded on an immutable ledger. Also, anyone can act as a bookie being on the other side of the bet. Win-Win in my opinion.

#145 expat on 01.29.19 at 2:13 pm

#99 Tatar and ExpressBOB

PMS are a tiny part of our wealth. It is not a dumb trade at all. It is security in crisis.

Like all sheep you assume things are always the same.
We lost nothing from this as the bulk of our assets are in other assets.

Like all trolls your belief is correct and all others are false.

What many like you believe is that you are either all in your style of investing or one is stupid….

Diversified portfolios ALWAYS !!! include physical assets like PM’s.

So you understand since you don’t seem to. You grew up in a time when electricity, politics, and society in general were stable.

If you look around – you may be surprised to find that this is not the case.

Ask yourself one simple question.

When your power goes out – how do you buy anything without cash, or some other physical assets.

49% of Canadians have no savings. How do access your great invetments if your phone doesn’t work?

PM’s shoudl never be more than 5% of any persons assets.

They are for chaos.

Until you have lived under tyranny you know nothing. Your smugness may very well be your downfall.

On Dec 1, 2008 I called my bank to cash a money market fund…

He didn’t know if he could do until the next day he called back said yes.

Since few have ever seen events liek these -you blindly assume society and the system will protect you.

You are sadly misinformed. But like all great trades there has to be a bagholder or two….

I think we know who that is.

In chaos you will buy nothing with rocks. What a silly idea. – Garth

#146 Godth on 01.29.19 at 2:18 pm

#142 Deplorable Dude
back in the 60’s, 70’s, 80’s around 20% of scientists believed we’d be heading for another ice age, and normally we would be in hundreds or thousands of years. pushing 30 billion tons of co2 into the atmosphere per year has changed that entirely. we’ve triggered natural feedbacks now, like methane release.

the arctic is warming far faster than the rest of the planet and is therefore much more unstable as warm oceans and air mix with the cold. the multi-year ice is breaking down rapidly and far larger storms are presenting. there’s a choke point in the north-west passage that got blocked up as the last remnants of multi-year ice got broken up and shifted into that choke point. thus ships were blocked, very temporary.

you don’t want to understand so you don’t. enjoy your recency bias. get lost in the trees, never mind the forest. you won’t “win” though – guaranteed.

…and then there’s ecological omnicide which is separate but related. i don’t want to confuse you too much though.

#147 Bitcoins and Weed on 01.29.19 at 2:23 pm

These are nothing more than Ponzi schemes and are not investments. Stay away from this insanity because its by definition gambling of assets. One would have a better outcome going to a Casino and playing the penny slots. Sell this junk, and buy real investments that pay dividends instead.

#148 James on 01.29.19 at 2:26 pm

16 Yellow Vest on 01.28.19 at 6:03 pm

Bitcoin will not survive for sure. It is like the 1975 giant boat car of crypto. But come on, the big news today is Huawei:

https://www.youtube.com/watch?v=Sy81pzXtL-M
___________________________________________
Just the beginning, there are rumblings of banning Huawei phones from entering the US. I don’t know how they could or would do that as every CSBP agent would have to check your phone and customers would have to ID the shipments. However with the devil is in the detail as Americans have already been importing these things directly, popping in a sim, bam your up and running Android fast as can be. They are good phones however their technologies are mostly scavenged from others companies innovations and perlionged IP. Big Brother could just be a text away from controlling you from Shanghai.

https://business.financialpost.com/pmn/business-pmn/1-us-case-against-huawei-centres-around-a-robot-called-tappy

#149 Stan Brooks on 01.29.19 at 2:27 pm

#135 James on 01.29.19 at 1:14 pm

Maintenance of Health card requires 6 + months in a year residence in Canada. He is not eligible for Canadian health care otherwise. The border control system, including flights is connected with provincial and federal registries.

That residence itself establishes residence for tax purpose which is not the case here if he works close to full time abroad.

Clearly he can not maintain health card if away more than 6 months in a year.

Bank accounts matter if savings and active.
Dormant checking account does not. Nor does RRSP/you can’t contribute though.

Besides many countries have already agreement with Canada on establishing residency and avoidance of double taxation.

I agree that filling the form is the way to go but what makes you think he did not fill it already and is a tax cheat?

If benefits are removed, like invalidating health care coverage/he pays for health care coverage aboard and has no Canadian income, it is very hard to determine that he is resident here for tax purposes.

My advice actually would be actually to consult a tax lawyer.

#150 Figure it Out on 01.29.19 at 2:31 pm

“Set aside the betting aspect…”

But that’s the killer app that I said didn’t exist! You want to focus on the distributed trustless aspect… Yes, yes, we understand all that. What’s the practical use? Betting is going to be less convenient on the blockchain in countries where it is already legal. And in places where it isn’t, you’re just one more crypto-libertarian trying to use the tech to circumvent local laws, who will get stymied by frictions with real world payment systems cutting off access.

And if I don’t like the arbitration and go to a local court (assuming the court will enforce a gambling contract), and the court grants me a judgment, then who, exactly enforces that judgment in this distributed trustless world of yours?

Also, the piece de resistance is that you’re creating a way to fix the World Series. Assuming that the platform doesn’t become a bunch of small timers with 100-1,000 previous bets each, but rather gets dominated by a few giant sports books (much like BTC mining is dominated by a few Chinese mining syndicates today), what’s to stop them from colluding, to load the boat on one team for a major sports event, and then use their combined voting power to effectively declare that team the victor regardless of the actual outcome? Obviously that would be the end of the platform, but for a nine figure payday, it would certainly be worth it.

#151 Smoking Man on 01.29.19 at 2:33 pm

James

unlike the laid off lefty jurnos at HuffPost and BuzzFeed. A dime a dozon.

I can code. And I’m good. Been coding algo trading systems since my long tenure at those golden buildings at bay and front that have gone off the rails with PC culture.

How is giving my friend in an un named Island a computer that algo trades a crime. Maybe one day we will just gift me a fortune.

Got the green card off to Arazona soon to teach at a private college.

I’m going to be a teacher damn it.

The Irony…

#152 Blacksheep on 01.29.19 at 2:38 pm

LP # 143,

#138 Blacksheep on 01.29.19 at 1:18 pm

…Left or Right it matters not, they are all for sale if the treats get sweet enough.
************************************
“It truly raises my hackles when someone generalizes as widely as you have. Whether it’s about teachers, cops, other civil servants, the effect is the same. Yes, there are some bad apples but never, NEVER, can it be said that all of a particular group are bad apples.”

“Going forward maybe you can pull in your horns just a little.”
——————————-
Thank you for your respectful comment.
I agree, nothing is absolute.

Let me fix it:

Left or Right it matters not, they are ALMOST all for sale, if the treats get sweet enough.

And I was critiquing politicos. I hadn’t considered your laundry list of characters: “teachers, cops, other civil servants” oh my, but once again your right, I guess I could have.

Always learning from my mistakes….

#153 Godth on 01.29.19 at 2:42 pm

#134 n1tro
when it all goes pear shaped, which it is and it’s only getting started, you and your far right ilk will be screaming for the government to save your profits. of course it will be regressive and draconian as punishment for everyone but yourselves is the game, that’s your mantra. stay tuned – plenty o’violence on the way. the learning curve is flat.
venezuela has the largest proven oil reserves on the planet – yummy. a couple decades of attempted coups and harsh sanctions to punish and soften them up, soon there’ll be our oligarchy imposed on them and then the feast.

#154 yorkville renter on 01.29.19 at 2:45 pm

#118- I know of several other uses for blockchain outside mgmt consulting and fraud and they are excellent solutions… You can *possibly* file them under fraud, but not so clear cut.

simple example- proving who owns what and other information management solutions

#155 IHCTD9 on 01.29.19 at 3:05 pm

#153 Godth on 01.29.19 at 2:42 pm
#134 n1tro
when it all goes pear shaped, which it is and it’s only getting started, you and your far right ilk will be screaming for the government to save your profits. of course it will be regressive and draconian as punishment for everyone but yourselves is the game, that’s your mantra. stay tuned – plenty o’violence on the way. the learning curve is flat.
venezuela has the largest proven oil reserves on the planet – yummy. a couple decades of attempted coups and harsh sanctions to punish and soften them up, soon there’ll be our oligarchy imposed on them and then the feast.
____

I don’t think I’d characterize n1tro as far right, and I don’t think he’s taking too much in the line of “profits” either. He’s likely a working schmuck tax slave just like myself and most others here.

FWIW, I’m not screaming for the government to save me, I laid them off a couple years ago, and am using their paycheque for more valuable things instead.

#156 n1tro on 01.29.19 at 3:13 pm

#147 Figure it Out on 01.29.19 at 2:31 pm
“Set aside the betting aspect…”

——————————–
You raise good points. Let me see if I can adequately address them.

“What’s the practical use?”
——Same use as betting online but easier. Online betting requires you to link your bank account of credit card and be verified and stored in a centralized database. In a world of hacks and endless apologies from big companies, is this the best thing to be submitting? Crypto betting uses metamask which is like a secured wallet on your browser which you can fund with your personal wallet and use the funds at any sites that chooses to accept the crypto.

“You’re just one more crypto-libertarian trying to use the tech to circumvent local laws, who will get stymied by frictions with real world payment systems cutting off access.”
—-True. But ask yourself why a lot of these laws exist. Is it a morale thing or is it something that is made since the government can’t get a piece of action (ie. weed). Regardless, real world payment systems can only cut off access because of the coordinated centralization. In a decentralized world, unless the entire crypto network is taken down, your funds will always exist. Also, the point of the blockchain ledger is for transparency not evasion but I can see your point how some would use it outside of its intended use.

“And if I don’t like the arbitration and go to a local court (assuming the court will enforce a gambling contract), and the court grants me a judgment, then who, exactly enforces that judgment in this distributed trustless world of yours?”
———Judgements are as enforceable as they are now in the real world. Wasn’t Omar Kadr orders to pay millions to the family of the soldier he killed? A judgement in the “real” world for a legal contract in cyberspace would be determined by the clearly written elements of the contract and decided by the judge what the plaintiff is entitled to in paper currency. Gift promises or contracts that don’t have the essential elements to make them a contract are not enforceable. Again, using the local courts is a last resort which should be avoided and issues around it are the same with contracts being made online between parties on platforms like ebay currently.

“Also, the piece de resistance is that you’re creating a way to fix the World Series….”
——-Remember the first consensus is between the 2 individuals. If the 1 party is a black hat and staked the majority of a 1 sided bet and didn’t want to payout, I guess that scenario can happen. But the chosen high ranked arbitrator would not be the party involved in the bet but rather a random 3rd party. We were toying with the idea that reputation could be earned through successful transactions or be bought as to minimize what you are outlining because in either scenarios your “rep” costs you something tangible so unlikely to dick with it.

Hopefully this answers your questions. I wont talk more about this as to derail Garth’s blog. My point again is that the blockchain technology can solve a lot of current problems.

BTW. Time it took develop this platform? 3 months.

#157 not 1st on 01.29.19 at 3:19 pm

godth and crazyfox are just hilarious. Absolutely triggers when trump stretches rthe truth, but when the IPCC tells outright lies they are right in line asking for seconds.

Where is the 20ft sea level rise and the 4 deg temp rise? And I will bet any money we will still all be here in 12 yr looking at another lie. I guess lies on longer time scales are ok with them,

#158 n1tro on 01.29.19 at 3:22 pm

#153 Godth on 01.29.19 at 2:42 pm

Do you read what you post? If I’m far right then you must be far left.
You are so closed minded, casting judgement on others that do see your point of view and calling them names and such. How can there be any discussion? I’m going to stop responding to your posts. Feel free to do the same with mine.

Please and thank you.

#159 not 1st on 01.29.19 at 3:25 pm

#135 James on 01.29.19 at 1:14 pm

——

Best way to keep your citizenship while living abroad is to go fight for ISIS for a few yrs.

#160 yorkville renter on 01.29.19 at 4:03 pm

#133 – I paid myself a salary in 2017… and all dividends in 2018. I’m hoping all dividends + a big RRSP contribution (lots of room from prior years) works out to an almost tax-free earnings year.

Except your corporation paid tax. Remember that corp tax + dividend tax = personal tax rate. – Garth

#161 Tater on 01.29.19 at 4:12 pm

#151 Smoking Man on 01.29.19 at 2:33 pm
James

unlike the laid off lefty jurnos at HuffPost and BuzzFeed. A dime a dozon.

I can code. And I’m good. Been coding algo trading systems since my long tenure at those golden buildings at bay and front that have gone off the rails with PC culture.

How is giving my friend in an un named Island a computer that algo trades a crime. Maybe one day we will just gift me a fortune.

Got the green card off to Arazona soon to teach at a private college.

I’m going to be a teacher damn it.

The Irony…
————————————————————-
Don’t make me have to call my friends in those towers and ask if a booze addled bumpkin was writing algo trading software in VBA. They’ll think I’ve lost it.

#162 Blockchain? on 01.29.19 at 4:13 pm

We’ve been hearing for years now about the endless potential of blockchain. So aside from cryptocurrencies and fraud, where are the killer applications? Or any applications at all — that actually exist *today* and not just on paper?

Blockchain is the classic solution in search of a problem. As a concept, it is admittedly simple and elegant. There is no shortage of incentive for companies to build blockchain-based products however possible. Witness that iced tea company that tripled its stock simply by renaming itself “Long Blockchain Corp” in 2017. Anyone who solves an actual, real-world problem using blockchain will be filthy rich.

So what’s taking so long? Where are these killer blockchain apps? Why don’t they ever seem to get beyond ideas and proposals?

#163 James on 01.29.19 at 4:29 pm

#149 Stan Brooks on 01.29.19 at 2:27 pm

#135 James on 01.29.19 at 1:14 pm

Maintenance of Health card requires 6 + months in a year residence in Canada. He is not eligible for Canadian health care otherwise. The border control system, including flights is connected with provincial and federal registries.

That residence itself establishes residence for tax purpose which is not the case here if he works close to full time abroad.

Clearly he can not maintain health card if away more than 6 months in a year.

Bank accounts matter if savings and active.
Dormant checking account does not. Nor does RRSP/you can’t contribute though.

Besides many countries have already agreement with Canada on establishing residency and avoidance of double taxation.

I agree that filling the form is the way to go but what makes you think he did not fill it already and is a tax cheat?

If benefits are removed, like invalidating health care coverage/he pays for health care coverage aboard and has no Canadian income, it is very hard to determine that he is resident here for tax purposes.

My advice actually would be actually to consult a tax lawyer.
___________________________________________
Stan baby have you never lived abroad? Read up!
There are exemptions via OHIP, I have done it myself years ago.

https://www.ontario.ca/page/ohip-coverage-while-outside-canada

#164 Godth on 01.29.19 at 4:33 pm

#157 not 1st
you’re lost in your own colon. too far gone.

#165 Godth on 01.29.19 at 4:36 pm

#158 n1tro
go back and read what you wrote in post #111

please…clutch your pearls and get the vapors. you won’t respond because you can’t.

#166 Godth on 01.29.19 at 4:47 pm

#155 IHCTD9
yeah, using fox news talking points and lingo is really balanced. they’re the same sort of working slob that continuously believes black is white and votes against their own interests ’cause they’re rugged individualists like you. delusional ideological crazies, like half the comments on this blog. stunning. narcissism rules.

#167 Iconoclast on 01.29.19 at 6:17 pm

A bitcoin is, as far as I can tell, a very large prime number.

It is slightly interesting in that when it is put through a particular hashing Al-Gore-ithm, it produces a hash value that has leading zeroes.

And that’s all it is. But if people will trade money for it, it has value. Like a beanie baby.

The concepts are interesting, and will survive the coin.

#168 LivinLarge on 01.30.19 at 8:38 am

“back in the 60’s, 70’s, 80’s around 20% of scientists believed we’d be heading for another ice age, and normally we would be in hundreds or thousands of years.”…well sort of correct. 60’s and 70’s for sure but those predictions back then were based on the three part position of the earth in its orbit around the sun and actually provides some of the strongest evidence for a man made cause to the current warming phase. If the earth should be getting progressively colder but is getting progressively warmer then something “un natural” is causing it.

#169 holly on 01.31.19 at 2:07 pm

You missed a big hole in the BC hoax.
Name even one marginal ‘fundamental’ driving price in either direction…
Yup, not one.