Comin’ for you

Time for a little catch-up on stuff we’ve mulled here in recent days. The world continues to evolve. It’s dizzying.

First to BTC. As reported yesterday, crazy & rich Elon Musk has thrown a giant wad of money into Bitcoin and says he’ll take the digital ‘currency’ in exchange for a new Tesla, except if you live in Alberta where it’s minus 45 and even the elk are running out of juice.

Predictably, Elon fans and dangerous young people came here to argue Bitcoin (and its offspring) are the future, that fiat currencies will collapse and coders will inherit the earth. The counter-argument is that governments, politicians and central banks will allow a private, unregulated alternative currency to become mainstream just as soon as Doug Ford starts doing Pilates. So, fuggedaboutit.

Well, we have news. If you just bought into BTC at this week’s insane level, too bad. If you made some bank on it, cash in. It’s only a matter of time before CBs squish crypto – at least as it is currently traded.

The recent valuations of Bitcoin, says the Bank of Canada’s deputy government Tim Lane, is “speculative mania.” In fact in a big speech the top banker just linked BTC to tweets, making us all think of Hoodies and Redditers. “The recent spike in prices looks less like a trend and more like a speculative mania — an atmosphere in which one high-profile tweet is enough to trigger a sudden jump in price,” he stated. And this: “Our view remains unchanged: a digital currency is by no means a foregone conclusion.”

What does this mean?

Simple. Digital currencies which are a part of the existing payment system and represent a true medium of exchange as well as a storehouse of value will actually come into existence. But it ain’t Bitcoin. Or Dogecoin. Or Ethereum. Or any of the myriad of others currently being invented by people with manbuns and tats.

Instead, digital money will be brought to you by the same people who are printing the paper (plastic) stuff. It’s no secret of Fed and the BoC, as well as the ECB in Europe have been working on this. Lane admits that the virus and the massive kick that’s given to online commerce is a catalyst. He’s also sending out a signal that if BTC and its spawn become too pervasive, that will also hasten the move.

So CBs will likely give us ‘stablecoins’, digital money whose value is not determined by a Wild West coin exchange (like now) where an Elon Musk message can inflate things instantly, but by an “external asset.” Like fiat money. And if people want digital money, adds Lane, it should be central banks that issue it because, “Only a central bank can guarantee complete safety and universal access, and with public interest — not profits — as the top priority. We will issue such a currency only if and when the time is right.”

More on this is apparently coming tomorrow. Hit the sell button, kids. If you remember your password.

      

Speaking of rubes, let’s turn to GameStop for comic relief.

Was it only a week ago we were watching the failed retailer’s stock rocket to the moon in a great example of crowdfunding manipulation and greater fool theory at work? What a tale. The Hoodies got hoodwinked by r/wallstreetbets promoters and ponzis on Reddit, bought the improbable story that this was about punishing bad hedgies (instead of greed) and piled into an inflated asset with the fundamentals of a road apple.

The inevitable happened. Here it is.

GME stock has been drifting around the $50 mark, which means some $30 billion (a billion is a thousand times a million) in value has been erased since January 21st. Volume of trades has halved and (naturally) the bulk of people who bought on the way up sold on the way down and lost some, most or about all of their money. GameStop has shed 90% of its capitalized value.

Did you learn anything?

     

Okay, so last year the virus gave us a big tax present, which was a long, long delay in paying outstanding balances. Instead of April 30th, it turned into September 1st. But no such luck so far in 2021.

One big item for a lot of people (over half the readers of this pathetic blog, according to our recent survey) is deductions for WFH. There are two ways of claiming them. The easy way is to grab the flat-rate $400 by completing Form T777S and claiming two bucks for every day worked from home. Technically you had to be a WFHer for over 50% of the time during at least four weeks, but nobody’s going to check. So all who want the four hundred dollar deduction can take it.

The less-easy way is to have your employer issue a T2200(S) form declaring you were required to toil outside the workplace at least half the time and expected to pay for related expenses. This allows deductions for all of the costs of an outside private office, or a portion of rent, power, heat, internet fees and maintenance if you work from home (on a square-foot basis). If your compensation is all commission, also claim a portion of insurance, property taxes or equipment leasing costs. No mortgage interest, though.

Don’t make stuff up. Keep receipts. Like with a yellow lab, the odds are low the CRA will kill you. But they’re not zero.

About the picture: John, a left coaster who sometimes contributes here writes: “The reason I’m home is my wife has 5 comorbidities, and we have two special needs children who are going to school.  As my wife has to live in the basement, I’m doing the WFH, plus being MR. Mom.  My daughter’s service dog has not made it into her new school yet this year due to Covid (staff training issues).  So he is at home with me.  The picture is of him telling me to take a movement break and go for a walk. Feel free to use it on your blog. His name is Wilbur, the autism service dog.”

221 comments ↓

#1 Drill Baby Drill on 02.10.21 at 1:52 pm

” just as soon as Doug Ford starts doing Pilates.” Ok now I have a visual that is crushing my brain, thanks a lot.

Oh by the way Pilates is so 90’s.

#2 Stop the game! on 02.10.21 at 2:04 pm

#172 Slaughterhouse 5 on 01.28.21 at 7:54 pm

Anyone wanting to make a mint tomorrow will be well advised to take a short position in $Gamestop$ at market opening, especially if you missed the free money today.

Fear has now gripped the tiny millennial brains… The ones with a few grains of grey matter chickened out today and took their lumps, wisely so. The stubborn ones will get a shellaquing like none other tomorrow.

Expect $37 share price by end of day tomorrow since not even Robin Hoodies would be silly to risk holding a position over the weekend.

Shucks, it was nothing… Just buy me a beer with the proceeds when this shiite show is over!

___________________________________

Hats off to this guy! Admittedly, a few days early. But if you had followed this genius’ advice, you wouldn’t be hear reading this pathetic blog and looking for advice today!

#3 Dogman01 on 02.10.21 at 2:10 pm

At noon “feels like -40 C” – Electric Battery car…get the “f” out of here.

Not surprised young people are giving up on Western Institutions, the Western elite have abandoned their society, no “in-Group” loyalty by the upper echelons, their “in-group” is not their Citizens.

“Globalism—the freedom to structure commercial relationships and social enterprises without reference to the well-being of the particular society in which they happened to make their livings and raise their children.”

Interesting perspective on the Chimerica coalition, I used to think it was a Thucydides Trap but I see the “Thirty Tryants” are now in charge and looks like China has won the “100 year Marathon”.

https://www.tabletmag.com/sections/news/articles/the-thirty-tyrants

“The elite that saw enlightened Chinese autocracy as a friend and even as a model” – hence Trudeau admired China’s “basic dictatorship.” And why he sacrifices Canadian honor and Integrity for China.

#4 Demesticated Dog on 02.10.21 at 2:10 pm

We’re fond of dogs on this blog, which started to draw parallels for me lately. It dawned on me that dogs – an entire animal group domesticated and not able to survive in the wild without their masters providing them necessities of life – is very similar to what is happening to humanity today.

This whole thing is showing us we are domesticated just like the dog. We are beholden to the master, and depend on the master for everything. Our food. Our freedom to go for a walk. Our freedom to roam free. Our health care. Our salary – CERB/UBI, etc.

Domesticated Dog and now Humans – much more alike thank we’d like to probably admit, sharing human masters, although masters of humans appear to be the political class of human. At least the domesticated dogs are smart enough to have domesticated humans scoop their poop. Domesticated humans are left to scoop the dog’s…and their own too.

#5 crowdedelevatorfartz on 02.10.21 at 2:12 pm

Wilbur the Wonder Dog.
Awesome.

#6 Comments! on 02.10.21 at 2:17 pm

I’m no fan of bitcoin but everyone said it was finished when it pulled back from $10,000. And Central Banks have proven to be be a bunch of reckless clowns and nobody takes them seriously anymore. “Powell will not tighten policy until low income workers recover”. So like never…where did they find this idiot? Maybe if they stopped making paper currency as valuable as recycled toilet paper, we might be onto something.

Is oil worth $55 per barrel, lol ya whatever. All stock markets, commodities and real estate goosed to the moon. Take your pick and have a ball in the manipulation markets until it all comes to an unhappy ending. We have never asked for it more than now. Can’t just conveniently pick on Bitcoin and real estate. All rotten to the core.

#7 Smartalox on 02.10.21 at 2:21 pm

Here in Edmonton, I was surprised to see a few Teslas out on the road in the cold this weekend. One even pulled away from me at a stop light. A Model X. I was genuinely impressed.

The ones I saw were probably parked in heated garages, but I can attest that they’re out there.

In other news, my mother in law boasted to me that ‘her cannabis stocks’ and other highly speculative stocks have now tripled in value.

I made the point that in the ‘Buy low, sell high’ terminology that this was the ‘high’, and that it was time for her to sell those stocks and pocket the gains.

That kicked off a more protracted discussion that quickly revealed that she had no idea HOW to sell her stocks using the online trading platform that one of her millennial friends had used to buy them for her.

The friend had shown her how to use the program to buy the stocks pre-Covid, but now can’t visit to show her how to sell them.

#8 Dogman01 on 02.10.21 at 2:24 pm

For good measure an article revealing Canada’s China obsession and our own “Thirty Tyrants”.

“If Trudeau seems to be putting the interests of his buddies in the Laurentian elite ahead of the interests of the two Michaels”,
If the Sheep ever look up they will no doubt see this.

https://www.macleans.ca/opinion/the-next-big-threat-facing-the-trudeau-liberals-china/

#9 Ford does Yoga on 02.10.21 at 2:28 pm

the rise of cyrptos is a direct result of governments debasing their currencies .. first during the 2008 crisis, and again now during covid. you can’t expect people to accept fiat currencies when governments are printing billions a day out of thin air. this is all a direct result of government incompetence.

if 25% of all US currency was minted last year, .. why should anyone accept it as payment. cryptos at least have a finite amount that can be created.

the government money scam is over… people don’t trust them any more. and will now look for alternatives.
we should have stayed on the gold standard. it was infinitely better.

#10 Flop... on 02.10.21 at 2:34 pm

About the picture: John, a left coaster who sometimes contributes here writes: “The reason I’m home is my wife has 5 comorbidities, and we have two special needs children who are going to school. As my wife has to live in the basement, I’m doing the WFH, plus being MR. Mom. My daughter’s service dog has not made it into her new school yet this year due to Covid (staff training issues).

///////////////////////////

John, do you live in Vancouver?

My wife works for the school board and works with autistic kids everyday.

I have empathy for your situation, and the first thing that came into my head is that my wife, before COVID, used to tutor after work sometimes and does it a lot more in the summer when she is off for an extended period of time.

The parents normally know her from school, and ask her to help continue their children’s education and also can be used to give the families a bit of a breather.

If you need help I could probably talk her into helping you out in the summer, after all, I was able to talk her into marrying me…

M46BC

#11 SCOOBY DOO on 02.10.21 at 2:36 pm

How does Bitcoin go from 1 penny to 47,000 dollars over an 11 year period with no one being able to stop it?

Simple it’s decentralized and blockchain and crypto are the better technology for a monetary system than the current.

The better technology always wins no matter which government intervenes.

And what did we learn?

That the little guy found the loop hole to sending billionaire short interest investment firms to their knees.

What’s good for the goose is good for the gander.

Just like the geniuses who said buying GME brought “billionaire short interest investment firms to their knees”? How did that work out? – Garth

#12 kommykim on 02.10.21 at 2:37 pm

With our ability to buy things online with a credit card (Even regular bank cards can simulate a credit card as long as you have the money in your account) or with services like PayPal I fail to see the need for a “digital currency”. Bitcoin and others seem speculative like hockey cards or other collectables. They are only worth what the crowd thinks they are.

#13 binky barnes on 02.10.21 at 2:51 pm

I bet the free world’s greatest leader (Mr. Justin Trudeau, as if there was any doubt) looks great in his piltates tights. But I am also certain he is far too busy curing all of the country’s ills to bother with pilates.

BB

#14 TurnerNation on 02.10.21 at 2:57 pm

This is telling. Why is the Bank of Canada worries so much about GREEN? Likely a distraction to the amount of GREEN they’ve printed. Money supply and Debt.
The spoils of this global war, WW3.
Wags tell us that ‘all wars are bankers wars’. Decide for yourself.
….
“The Globe and Mail reports in its Wednesday, Feb. 10, edition that Bank of Canada Governor Tiff Macklem has “green” credentials, particularly his chairing of the federal Expert Panel on Sustainable Finance, which in 2019 recommended Canadian financial institutions revamp their business practices to address the challenges of climate change. The Globe’s guest columnist Cameron French writes that there are signs that the hoped-for sustainability shift is happening at the BOC. Manifest Climate adviser Kevin Quilan says: “I would say that [Mr. Macklem had] spoken more about climate change in seven months than the previous governor did in seven years. He has spoken about wanting to have the bank play a bigger role internationally in terms of the organizations that are working on climate finance.” The BOC recently announced a pilot with the Office of the Superintendent of Financial Institutions to examine how various climate change scenarios would affect the country’s banks and insurers. Some companies that have signed on include major industry players such as the Royal Bank of Canada, Toronto-Dominion Bank, Manulife Financial and Sun Life Financial. A progress report is expected later this year.
© 2021 Canjex Publishing Ltd. All rights reserved.”

#15 Mil,notmoist on 02.10.21 at 2:59 pm

For the WFH renters out there, use the T2200(S) method. CRA has a tax calculator posted to help you determine the difference. In my household, it was a ~$400 credit vs a ~$4000 credit. Not too shabby.

By the way Garth – have you seen this? I’m interested in your thoughts. Maybe the collective GF voice can make a difference. Are these consultations meaningful?

https://letstalkbudget2021.ca/pre_budget_consultations/survey_tools/questionnaire

#16 Sail Away on 02.10.21 at 3:01 pm

#11 SCOOBY DOO on 02.10.21 at 2:36 pm

How does Bitcoin go from 1 penny to 47,000 dollars over an 11 year period with no one being able to stop it?

…the little guy found the loop hole to sending billionaire short interest investment firms to their knees.

———

Haha. You and Elon stickin’ it to the man! Take that you fat cat billionaires.

…wait a minute…

#17 Faron on 02.10.21 at 3:02 pm

#3 Dogman01 on 02.10.21 at 2:10 pm

At noon “feels like -40 C” – Electric Battery car…get the “f” out of here

The battery packs in electric cars have thermal management systems. Sure, range is less (couple 10%), but still plenty for most driving. A plugged in car can also keep the pack warm ahead of the drive. Much smaller issue than you think.

#18 Sheesh on 02.10.21 at 3:02 pm

#212 IHCTD9 on 02.10.21 at 12:44 pm

Must have been a pretty burly Woman.

Well, she was burlier than 125lbs.
Weight limit for cans here is 45lbs, and they won’t take it if it’s too heavy – they leave a nice tag on it reminding you of the limit.
I’ve never done the job, but I imagine that the driver and collector switch spots during the day, maybe after each dump run which itself would be a 45min – 1 hour break from the heavy lifting.
Anyway, the cold temps wouldn’t be a problem for me, but I sure the heck wouldn’t want that job on a 30C+ day, those trucks stink to high heaven.

#19 I’m stupid on 02.10.21 at 3:07 pm

Am I the only stupid one? How can Tesla accept Bitcoin to buy cars? Has anyone ever tried to go to a car dealership with a duffel bag full of cash? The dealership is required to notify the same people as the banks if the amount exceeds 10k. Then you have some explaining to do. It’s far easier to buy with a bank draft.

#20 Sail Away on 02.10.21 at 3:09 pm

#208 Flop… on 02.10.21 at 11:53 am

Re: Undercover Billionaire

Could you be flown into these cities, given $100, old truck and fresh cell phone and turn that $100 into a million in 90 days?

————-

Easy peasy: Starbucks wifi and a Robinhood account. Follow the TikTok investing plan.

#21 SoggyShorts on 02.10.21 at 3:16 pm

I don’t quite understand what a government-produced version of bitcoin would be.
What’s the difference between that and the numbers shown in my online bank account?
It seems to me that all of the theoretical advantages of crypto over fiat go away if it’s the government running it.

#22 cuke and tomato picker on 02.10.21 at 3:20 pm

The T.C. in Victoria BC has an article in it about B.C. health
authority CEO ousted this is about two years after our Clerk
and Sargent At Arms also had to leave.

#23 Danger Dan on 02.10.21 at 3:23 pm

Who needs a doctor when you’ve got a faithful four-legged companion preaching preventative medicine? Those are his playing-with-me-lowers-your-risk-of-deep-vein-thrombosis eyes.

I’m frankly a little surprised Gamestop went as far as it did. A prime example of the feral powers of FOMO.

I’ve had to train myself to associate FOMO with with DANGER, like one of Pavlov’s dogs.

FOMO is like missing the boat then jumping in the water thinking you can still catch up with a hearty breast stroke.

FOMO leads to getting hauled out of the drink covered in seagull guano with a startled fish stuck in your oesophagus.

#24 Faron on 02.10.21 at 3:34 pm

#223 Bill on 02.10.21 at 2:46 pm

No onto an Inconvenient Truth. 

I’d be happy to engage with you on climate change if you are interested. If not, I’d encourage you to seek other sources of info or additional sources.

#25 Faron on 02.10.21 at 3:46 pm

#21 SoggyShorts on 02.10.21 at 3:16 pm

I don’t quite understand what a government-produced version of bitcoin would be.
What’s the difference between that and the numbers shown in my online bank account?

Built in transaction registry is part of the blockchain so would make life easier than asking umpteen private entities where the dollars go. Imstead, CRA or BoC could look at the wallets attached to SINs and see all activity. In a nationally run crypto, the gov’t would have the keys to “read” the encryption and thus transactions, presumably for tax. Blockchain makes transaction level tax collection trivial.

Downsides are computational expense and that privacy minded people will/should be alarmed at the loss of anonymity that cash currently offers.

I think the utter black box that is bitcoin is one of the primary reasons it will be regulated away or to something else.

#26 alexinvestor on 02.10.21 at 3:49 pm

That’s been my main worry with Bitcoin, that the government would come knocking. Of course, the problem with fiat money is that even though it’s backed by taxing power, fiat money unfortunately has liabilities attached to it like old age benefits … and guess who votes. If I wanted maintain purchasing power, I would likely go with gold, bought with cash in small amounts just in case central banks decide to pull a FDR.

And what, pray tell, can you buy with a piece of gold? Gas? Groceries? Ammo? – Garth

#27 Love_The_Cottage on 02.10.21 at 3:51 pm

#17 Faron on 02.10.21 at 3:02 pm

The battery packs in electric cars have thermal management systems. Sure, range is less (couple 10%), but still plenty for most driving. A plugged in car can also keep the pack warm ahead of the drive. Much smaller issue than you think.
____
True, and part of the reason Norway has no problem with EV’s.

https://reasonstobecheerful.world/norway-gm-electric-cars-morten-harket/

#28 IHCTD9 on 02.10.21 at 4:01 pm

#18 Sheesh on 02.10.21 at 3:02 pm

Anyway, the cold temps wouldn’t be a problem for me, but I sure the heck wouldn’t want that job on a 30C+ day, those trucks stink to high heaven.
____

Amen to that. Hot and sweaty, breathing stinking garbage and diesel fumes all day…

It’s a winter job, just like firewood.

#29 Penny Henny on 02.10.21 at 4:05 pm

Wilbur is a great name for a lab.

#30 Re-Cowtown on 02.10.21 at 4:06 pm

The question I’ll raise today is whether anyone has stats on how deadly the new variants of COVID are. The reason I’m asking is that I wonder if the new COVID is much more contagious, but less deadly??

If so, it would be Mother Nature’s own vaccine. This is not unknown in nature, as Edward Jenner noticed that milkmaids in the 1770’s who contracted cowpox were protected from smallpox and this was the impetus for the vaccine movement.

In more recent times, children commonly caught a mild variant of polio from contaminated water. Once modern sanitation kicked in, kids didn’t get exposed to the milder form, but the more ruthless form and all kinds of bad things started happening.

The point I’m making is that from an evolutionary perspective, there are only a few pathways for a virus to pop into existence as a deadly and virulent variant, but a great many pathways for it to lose it’s virulence and deadliness and pop out of existence.

Mother Nature wanders around and does things with or without or help.

#31 jess on 02.10.21 at 4:07 pm

why take a decade to legally mandated disclosures?

The influence game

…~190 companies have made statements about halting their donations due to the violence at the capital but behind the closed door …. but what a bout the anonymously funded dark money groups say one thing in public, and do another thing in private, using the cover of groups that don’t disclose their donors.

…”More than 7 years after CREW filed an FEC complaint against Americans for Job Security, a dark money giant, the FEC has reached a conciliation agreement with the group. AJS spent millions on political ads following the 2010 Citizens United decision, which weakened restrictions on independent expenditures and other election-related spending by corporations. The agreement will require AJS to disclose their donors from 2010, when they were one of the biggest dark money groups in the country. ”
read more @
Robert Maguire
February 1, 2021

https://www.citizensforethics.org/reports-investigations/crew-investigations/ajs-dark-money-donors-3-lawsuits-later/

#32 S.Bby on 02.10.21 at 4:14 pm

Today it is pot stocks shooting up …

#33 Classical Liberal Millennial on 02.10.21 at 4:16 pm

The comment from John resonates with me as our youngest is 3, non-verbal, and on the spectrum. He missed months of needed therapy due to this damn virus when we “flattened the curve” for half the year. We also got a Golden pup at Christmas (yes they do cost $3k). While we don’t plan on training it to actually be an autism service dog, we have seen the little guy fall in love already. From one special needs parent to another, I salute you. Hang in there John.

#34 Dogman01 on 02.10.21 at 4:17 pm

#17 Faron on 02.10.21 at 3:02 pm

Electric car, out on my driveway in -40 c temperature. Parked for 12 hours.
Then at work outside for 8 hours in -30.

No battery heater will keep that thing working.

Considering it is using Nat gas or nuclear power plant electricity and the battery chemicals and metals are a toxic disaster.
Not fit for purpose and not fit for use.

A unicorn

#35 S.Bby on 02.10.21 at 4:20 pm

For you Tesla guys (if you care)

https://www.marketwatch.com/articles/teslas-ev-range-isnt-all-its-cracked-up-to-be-edmunds-says-51612990610?mod=mw_latestnews

#36 S.Bby on 02.10.21 at 4:21 pm

For you Bitcoin guys (if you care)

https://www.marketwatch.com/story/dont-fall-for-the-bitcoin-bubble-even-the-flintstones-had-a-better-system-warns-economics-professor-nouriel-roubini-11612973303?mod=mw_latestnews

#37 S.Bby on 02.10.21 at 4:23 pm

Still more on Bitcoin:

https://www.marketwatch.com/story/how-inexperienced-investors-are-playing-russian-roulette-with-bitcoin-according-to-this-analyst-11612944619?mod=mw_latestnews

#38 Don Guillermo on 02.10.21 at 4:26 pm

#28 IHCTD9 on 02.10.21 at 4:01 pm
#18 Sheesh on 02.10.21 at 3:02 pm

Anyway, the cold temps wouldn’t be a problem for me, but I sure the heck wouldn’t want that job on a 30C+ day, those trucks stink to high heaven.
____

Amen to that. Hot and sweaty, breathing stinking garbage and diesel fumes all day…

It’s a winter job, just like firewood.
**************************************
Our street in Mx has garbage pick up Mondays, Wednesdays and Fridays and yes those truck do smell rank. I guess that’s why the three X’s a week p/u. The service is excellent and the “boys” seem a lot happier than the “boys” back home (lots of smiling and singing).

#39 Sail Away on 02.10.21 at 4:31 pm

#19 I’m stupid on 02.10.21 at 3:07 pm

Has anyone ever tried to go to a car dealership with a duffel bag full of cash? The dealership is required to notify the same people as the banks if the amount exceeds 10k.

———-

Should’ve tried gold, or silver bullion.

Speaking of that: What’s a pirate’s favourite letter?

You might think ‘R’, but historical records show that most pirates were actually illiterate.

#40 cramar on 02.10.21 at 4:31 pm

Just within the last couple weeks the media was touting the news that some legit hedge funds had shorted BankStop and now lost billions. Just recently I read that one fund, Melvin Capital, had to have a $2B bailout to keep it alive. But one hedge fund, Senvest Management, did made $700M on the way up.

When GameStop was hitting $400 I thought that it is a perfect opportunity for other hedge funds to now jump in and short the sucker. It was such an obvious bet against the tulip crowd. I wonder if any did? They would have made fortunes as this thing rightly collapsed.

#41 Penny Henny on 02.10.21 at 4:33 pm

#18 Sheesh on 02.10.21 at 3:02 pm
#212 IHCTD9 on 02.10.21 at 12:44 pm

Must have been a pretty burly Woman.

Well, she was burlier than 125lbs.
Weight limit for cans here is 45lbs, and they won’t take it if it’s too heavy – they leave a nice tag on it reminding you of the limit.
I’ve never done the job, but I imagine that the driver and collector switch spots during the day, maybe after each dump run which itself would be a 45min – 1 hour break from the heavy lifting.
////////////

In most municipalities your assumption would be wrong.

#42 Another Deckchair on 02.10.21 at 4:33 pm

@17 Faron

“The battery packs in electric cars have thermal management systems. Sure, range is less (couple 10%), but still plenty for most driving…”

According to:

https://www.geotab.com/fleet-management-solutions/ev-temperature-tool/

A Tesla Model S, drops by about 50% at -20C, as low as the tool goes.

From 439km at 21c (its best range) to 227 at -20c, quite the drop!

(and, it’s colder than -20 out in Alberta right now)

#43 Penny Henny on 02.10.21 at 4:35 pm

#19 I’m stupid on 02.10.21 at 3:07 pm
Am I the only stupid one? How can Tesla accept Bitcoin to buy cars? Has anyone ever tried to go to a car dealership with a duffel bag full of cash?
//////////////////

I’ve seen it a few times.

#44 S.Bby on 02.10.21 at 4:36 pm

Powell says he doesn’t expect a ‘large or sustained’ inflation outbreak

https://www.marketwatch.com/story/powell-says-inflation-is-much-lower-more-stable-than-30-years-ago-11612983821?mod=mw_latestnews

Powell wants everyone back at work. Great. But by the time that happens no one will be able to afford to buy anything. Everything is at multi-year highs already.

#45 Moose on 02.10.21 at 4:37 pm

Ahh yes, good old secure crypto currency…

8 criminals were arrested by Europol on Tuesday following an international investigation into the theft of $100 million of cryptocurrencies through sim swapping attacks that targeted celebrities and high-profile figures.

#46 SimplyPut7 on 02.10.21 at 4:38 pm

I don’t know about the rest of the country, but the mood seemed to have change in the greater Toronto area. More stores are closing for good, people who thought their well paying job were safe are gone.

A plaza near my home had 5 businesses open in January, now only 3 businesses are left. Three restaurants near busy office towers in downtown Toronto are closed for good. Staff were mostly likely making more than what CERB/EI will be paying.

https://www.sircorp.com/covid-guest-letter/

Several houses near me haven’t sold yet, it could be a winter pause, but compared to the frenzy in December and January they should have sold over asking by now.

Could reality finally be hitting home for people taking out large mortgages?

I’d rather be cash rich and house poor in this current job market, just until things start to get back to the new normal.

#47 Ustabe on 02.10.21 at 4:39 pm

I regularly place a cooler (in summer) out with my garbage. filled with water, soft drink, energy drinks, etc. If its a pick up just prior to a long weekend or especially over the Christmas holidays there might even be a 12 pack in there.

In winter I’m regularly out there with a thermal urn of coffee, some donuts, whatever.

I can put whatever I want in whatever quantities I have, at whatever weight my 70+ year old body can move it to the head of my driveway.

One time we were away camping and my neighbour forgot to move my cans out…the refuse engineers actually walked the drive, opened the gate, emptied our cans, replaced them and closed the gate. As reported to us by my across the street neighbour.

You can tell a lot about a person by the way they treat those who serve them. And how tidy they keep the interior of their car.

And by the links they provide:
https://theconversation.com/these-three-firms-own-corporate-america-77072

#48 Eco Capitalist on 02.10.21 at 4:43 pm

@ #34 Sail Away

Speaking of that: What’s a pirate’s favourite letter?

X. That’s where the treasure is always buried; under the X.

#49 Jem on 02.10.21 at 4:45 pm

Figured out a modern version of the rules for the board game Monopoly with my kid this past weekend.

Anytime you land on a property, you don’t pay. The bank pays. Way funner version. Lots more opportunity to own, hold and collect. And realistic for the kid.

Game ends when the bank runs out of cash.

#50 Roial1 on 02.10.21 at 4:55 pm

#7 Smartalox on 02.10.21 at 2:21 pm

I made the point that in the ‘Buy low, sell high’ terminology that this was the ‘high’, and that it was time for her to sell those stocks and pocket the gains.
——————————————————–
This is only the start of the growth of these stocks.
As the states s l o w l y come to their sanity and de- criminalize. these will still be in growth mode.
So to sell now is premature to say the least.
I’ll be selling mine after Biden removes the criminal list. He will too just because they have ruined so many lives. Also because of the cost to hold in prisons so many for such a minor offense.

#51 But ... But ... But ... on 02.10.21 at 4:55 pm

#49 Jem on 02.10.21 at 4:45 pm
Figured out a modern version of the rules for the board game Monopoly with my kid this past weekend.
Anytime you land on a property, you don’t pay. The bank pays. Way funner version. Lots more opportunity to own, hold and collect. And realistic for the kid.
Game ends when the bank runs out of cash
——————————————
do you still have to go to jail?

#52 Neo on 02.10.21 at 4:56 pm

Just like the geniuses who said buying GME brought “billionaire short interest investment firms to their knees”? How did that work out? – Garth

Garth,

Bitcoin as a chart looks nothing like GME that occurred over weeks. Every time bitcoin dips over the years you’ve said it’s over only for it to reach all time highs. It will hit $100,000 before it hits $10,000.

It’s a 100% speculative gamble with a substantial risk of going to nothing. It is not investing. – Garth

#53 Howard on 02.10.21 at 4:57 pm

Salesforce, San Francisco’s bigger employer, just announced that around 65% of its staff worldwide will transition to a hybrid arrangement (1-3 days in office) permanently. A smaller tranche of staff will be fully remote. The smallest tranche will be fully on site, due to the nature of the work involved.

Salesforce Prez says : “We’re not going back to the way things were.”

The president himself no longer lives in the Bay Area.

https://wolfstreet.com/2021/02/09/salesforce-largest-employer-in-san-francisco-switches-to-hybrid-work-from-anywhere-wont-need-all-that-space-in-the-salesforce-tower-uber-old-navy-yelp-oracle-dropbox/

#54 Editrix on 02.10.21 at 5:00 pm

Garth, I came to your blog today expecting some comment on the CERB non-repayment.

I’m kicking myself because I understood the rules and didn’t apply.

#55 calgary rip off on 02.10.21 at 5:04 pm

@ Re-Cowtown:

Apparently parts of the amino acids composing the spike protein have some variants in terms of nucleotides. There are reports of current research at cell.com phys.org also has much research.

Much of the covid 19 research is still inconclusive. While the virus is definitely not a hoax, there seems to be no solid evidence as to why some seemingly healthy find the virus deadly, while others are fine. A nurse five feet away from me got infected a month ago. 1958 is her age. She had tremendous fatigue and aches. She is working, no problem, once again. No issues.

Also suspect is the PCR tests. Are these tests reliable for the numbers of “cases”? The inventor says no.

And are patients dying of covid or with covid?

Materials are highly unclear. Consider getting the vaccine, if available if openvaers.com is seen as undaunting. In any case, keep vitamin D3 and C levels as high as comfortably possible and wear a mask. Hopefully for your job you are not impacted by this new worldwide police state.

#56 The summer of riots on 02.10.21 at 5:11 pm

https://www.libertycoalitioncanada.com/

Do u want to join common sense Gartho, it appears that the Canadian lemmings known globally for the minute brains are not buying the official message any more….

I am in shock…

Just mask up and behave. – Garth

#57 Warren-the-lagging_indicator on 02.10.21 at 5:12 pm

Work is so yesterday in the woke hoodie world of crypto. Hashes/s is so passe and power consuming. Next phase is proof of space over time… yep proof of space-time will be the new emerging protocol.

#58 SoundMoney on 02.10.21 at 5:27 pm

Hi Garth,

Every country in history that engaged in currency debasement, such as our CB is doing today, has experienced economic collapse as a result.

Why is this time different?

Money is currency. Crypto is not. Nor gold. There is no fiat collapse coming in your lifetime or that of your grandchildren. But they will all need, and crave, money. – Garth

#59 IHCTD9 on 02.10.21 at 5:28 pm

#43 Penny Henny on 02.10.21 at 4:35 pm
#19 I’m stupid on 02.10.21 at 3:07 pm
Am I the only stupid one? How can Tesla accept Bitcoin to buy cars? Has anyone ever tried to go to a car dealership with a duffel bag full of cash?
//////////////////

I’ve seen it a few times.
—- —-

I bought my used truck for 10k cash, private sale. Getting the 10k out of the bank was a PITA. The buying part was easy. Might be different at the dealer. I bet the duffle bag crowd is paying the window sticker price though…

#60 IHCTD9 on 02.10.21 at 5:31 pm

#53 Howard on 02.10.21 at 4:57 pm
Salesforce, San Francisco’s bigger employer, just announced that around 65% of its staff worldwide will transition to a hybrid arrangement (1-3 days in office) permanently. A smaller tranche of staff will be fully remote. The smallest tranche will be fully on site, due to the nature of the work involved.

Salesforce Prez says : “We’re not going back to the way things were.”

The president himself no longer lives in the Bay Area.
—— —

No one wants to live in California anymore. They’re all moving to (God bless…) Texas!

#61 joe on 02.10.21 at 5:32 pm

The recent valuations of Bitcoin, says the Bank of Canada’s deputy government Tim Lane, is “speculative mania.”

Ha Ha Ha Ha….that’s hilarious….the BoC which NEVER encourages speculative mania. Money is never printed and savers and pensioners are properly compensated for their hard earned savings. Canadian families have affordable shelter, not made inaccessible by speculation.

#62 Stone on 02.10.21 at 5:47 pm

#49 Jem on 02.10.21 at 4:45 pm
Figured out a modern version of the rules for the board game Monopoly with my kid this past weekend.

Anytime you land on a property, you don’t pay. The bank pays. Way funner version. Lots more opportunity to own, hold and collect. And realistic for the kid.

Game ends when the bank runs out of cash.

———

Change the bank for a central bank and you can play forever.

#63 Dude u aren't Deleting me on 02.10.21 at 5:48 pm

U must be busy joining the liberty coalition…loool

#64 Bytor the Snow Dog on 02.10.21 at 5:54 pm

I see all virus debate is gone from this blog. Great job “cleansing” it…

What’s to debate? – Garth

#65 IHCTD9 on 02.10.21 at 5:54 pm

#47 Ustabe on 02.10.21 at 4:39 pm
I regularly place a cooler (in summer) out with my garbage. filled with water, soft drink, energy drinks, etc. If its a pick up just prior to a long weekend or especially over the Christmas holidays there might even be a 12 pack in there.

In winter I’m regularly out there with a thermal urn of coffee, some donuts, whatever.
—- ————

In our little hood, it’s a tradition to throw 20 bucks on top of the bag (rural = everyone has to put their garbage bags in a can, so no one can see cash sitting there) at Christmas time.

Don’t know if this custom extends beyond our village, but if it does at 100% participation rate, these guys are making 20.00 every minute or two over the holidays.

#66 Rainman on 02.10.21 at 5:55 pm

The $400 is a way for the government to track and punish you later with capital gains I think? Unless renting of course.

#67 paulo on 02.10.21 at 5:56 pm

First winter with the Toyota Prius Prime

So far im impressed even with the battery side, its a hybrid gas/electric average 4.4L per 100 KM

#68 Stone on 02.10.21 at 5:58 pm

#52 Neo on 02.10.21 at 4:56 pm
Just like the geniuses who said buying GME brought “billionaire short interest investment firms to their knees”? How did that work out? – Garth

Garth,

Bitcoin as a chart looks nothing like GME that occurred over weeks. Every time bitcoin dips over the years you’ve said it’s over only for it to reach all time highs. It will hit $100,000 before it hits $10,000.

It’s a 100% speculative gamble with a substantial risk of going to nothing. It is not investing. – Garth

———

Yes. I prefer investing. No headaches. No sweating. B&D at 6.13% YTD. We’ll eventually see who’s left standing when the dust clears. I’m betting it’ll be me, not Bitcoin or any of the other cryptos.

I’m just waiting for TurnerNation to give us the conspiracy theory newsflash when all cryptos get nuked. Don’t worry. It’s coming. TPTB are just waiting that more suckers throw their money into it before they enter the nuke codes.

#69 Penny Henny on 02.10.21 at 6:00 pm

#54 Editrix on 02.10.21 at 5:00 pm
Garth, I came to your blog today expecting some comment on the CERB non-repayment.

I’m kicking myself because I understood the rules and didn’t apply.
//////////////////

Well let that be a lesson for you.

#70 Linda on 02.10.21 at 6:06 pm

Wilbur looks like a real cutie. So patient!

The whole cryptocurrency thing seems like a nothing burger to me. First, what with digital payments being ubiquitous our fiat currency is effectively digital in nature anyway. Most people are doing tap & go, especially with the virus in play. While some folks have signage stating they accept actual physical cash, many others tend to recoil in germaphobic horror should one proffer payment with cash. I’ve not had anyone refuse it, but I have seen it being held at arms length by gloved fingertips as it is deposited, rather like I’d imagine a ticking bomb would be, into the till. Non gloved hands tend to receive a vigorously applied dose of sanitizer immediately thereafter. Which makes me wonder. As our cash money has plastic in it, could it be safely wiped with sanitizer without damaging the cash? I’m not talking soaking, just wiped with a cloth dampened in sanitizer.

Something else I’m wondering is how people feel about the government now saying ‘some’ CERB recipients won’t be tasked with paying back benefits they didn’t actually qualify for. Given the sheer number of letters sent by the CCRA (some 441,000), seems like that might be a gift of some $6 billion – yes, billion – to our fellow citizens that we all of us get to pay for. This presumes that all of those who received such letters now get to keep the cash. Maybe the CCRA can issue charitable tax receipts to the rest of us who are on the hook for this little present? Seems only fair to me.

#71 SoggyShorts on 02.10.21 at 6:09 pm

#56 The summer of riots on 02.10.21 at 5:11 pm
Here’s where ya lost me:
“ABOUT US
What started with the effort to Reopen Ontario Churches… “

—————-
I mean what’s so important about meeting together in person during a pandemic to have 1-way conversations with your imaginary sky daddy?
He’s all-knowing and all-seeing, right? Can’t you just pray at home?

#72 Cici on 02.10.21 at 6:12 pm

Beautiful dog, John. I bet even Felix the Cat would agree.

And kudos to you for being such a fantastic spouse and parent. Your kids and wife are very lucky to have such a great pinnacle of support. And hope you all get vaxxed soon so things in your household get back to normal.

___________________________________________

And to Garth, thanks again for another informative post. I sincerely hope the Bitcoin beast will be slain or at least tamed. I fear there’s too much dirty, unregulated money funneling through it and feeding widespread corruption.

#73 LP on 02.10.21 at 6:25 pm

#33 Classical Millenial

Consider having your dog trained even if expensive. A few years ago we were at a large Christmas gathering, 40+ laughing singing talking people. The party was in the home of a young family with 3 teen boys all of whom are severely intellectually challenged – not on the spectrum but afflicted with Fragile X syndrome. The boy more afflicted has a service dog. When the dog’s collar is removed it is “off duty” and not expected to respond to the teen.
That night in all the noise and confusion dog was free to sleep at my feet. His charge was on another floor with his cousins. Suddenly the dog woke up, alert immediately and actively listening. The dog was on his feet and up the stairs in a flash and that’s when we could faintly hear the kid wailing. There was more than one set of misty eyes in our group at the sight of that animal work.

#74 Long-Time Lurker on 02.10.21 at 6:36 pm

Enjoy your global warming con job.

#75 Long-Time Lurker on 02.10.21 at 6:36 pm

Zoolander 3. Script update.

Location: Our trio in the town square with the munchkin crowd and large screen.

The trio look at the female reporter and cameraman walking away from them.

Prime Minister Zoolander: “That reporter works for you?”

Tin Man “Shawn Jerry”: “All the major media companies do. Only six corporations control the mainstream media in the U.S.S.A. President “Slick Willy” put in a law that allowed media concentration to occur.”

PM Zoolander: “Oh, I did that in Canada. I fund the Canadian Propaganda Corporation and if they don’t follow the script I cut their funding.”

Cowardly Lion “Rich O’Donnell”: “It really is like a script. We direct the news producers to slant the stories to suit our agenda.”

Tin Man: “Yes. For instance, take the recent attack and insurrection on Capitol Hill. Even though the majority of protestors were peaceful, we’ve turned all of them into domestic terrorists with our ‘movies’.”

The Tin Man and Cowardly Lion laugh heartily and say: “We sure pulled one over on the Wicked Witch of the East.”

Just then the large screen starts crackling and distorting; then an irate-looking man appears on the screen.

Tin Man & Lion: “Oh no.”

#76 Long-Time Lurker on 02.10.21 at 6:38 pm

>Oh No.

Trump Offered to Deploy 10,000 National Guard Troops in DC Ahead of Jan. 6: Mark Meadows
BY ISABEL VAN BRUGEN
February 9, 2021

Former President Donald Trump offered to deploy 10,000 National Guard troops in Washington D.C. prior to Jan. 6, the day of the Capitol building breach, according to former White House chief of staff Mark Meadows.

Meadows told Fox News’ “Sunday Morning Futures” that although Trump had been vocal about offering Capitol Police and National Guard presence at the Capitol on multiple occasions last month, his offer was rebuked “every time.”….

https://www.theepochtimes.com/trump-offered-to-deploy-10000-national-guard-troops-in-dc-ahead-of-jan-6-mark-meadows_3690294.html

The majority of Capitol Hill protesters were peaceful: Sara Carter
Jan. 06, 2021 – 9:29 – FOX Business contributor Sara Carter is on the ground in Washington D.C. and says Capitol Hill is worried about more violence as the sun sets.

https://video.foxbusiness.com/v/6220784248001#sp=show-clips

Is this the End of CBS, FOX, NBC, and ABC
212,809 views•Nov 14, 2020

Tate Chasers
The script came from Sinclair Broadcast Group, the country’s largest broadcaster, which owns or operates 193 television stations. Obviously they do this everyday with National Stories.

https://www.youtube.com/watch?v=PaLnrDq-bcw

Fox News has zero creeds now. And an editorial comment is not a news story. Say, did you watch the Senate vids from yesterday and today? Chilling. Telling. – Garth

#77 Nonplused on 02.10.21 at 6:46 pm

“Was it only a week ago we were watching the failed retailer’s stock rocket to the moon in a great example of crowdfunding manipulation and greater fool theory at work? What a tale.”

I’m not sure I would describe GameStop as a “failed” retailer just yet. Sure, they aren’t doing well during the pandemic, but they are in a market segment that I don’t see going away soon. All the kids these days and many of the adults game (not me, I prefer commenting on Greater Fool). I think we have 5 consoles of varying vintage in the house plus dozens of games for each. It represents probably $10,000+ in total investment (if you can call it that). More will undoubtedly come.

But that said, GME is not a $460 dollar stock. It’s probably too high at $50. $24 was probably a bit high. But I’d consider buying at $10. It could go to zero but it will probably survive as long as any retailer does, but it isn’t going to the moon again, me thinks.

Here are a few reasons why I think GameStop, EB Games, etc. will survive if they make it through the pandemic.

First, the stores are a temple for the youth. Go to the mall sometime and count the number of teenage boys that walk by without going in. They don’t just buy the latest games at $80 a pop, they buy tee-shirts, bobble head dolls, carrying cases, lunch boxes, plastic swords, all the crap. It is literally like the gift shop at the Tyrell Museum, only for geeks of a different fashion. You won’t walk by it without buying something.

Second, they make exchanging used games and consoles easy and quick. Way less hassle than doing it online, although at a cost.

Third, I don’t think physical games are going away anytime soon for the really high resolution games. Sure, you can download a 64 GB game over the internet but you still need some place to store it, and consoles are usually pretty light on memory to keep them cheap. Also if you don’t have “unlimited data” you can only do that so many times before the cost of internet goes up. And even if your console had a 1 TB hard drive, that only amounts to about 20 games before you have to start deleting old ones to make room for new ones. It’s sort of like managing your PVR.

Also a big argument from the manufacturer’s perspective to stick with physical games is pirating. Everything digital can be hacked, including probably physical games, but the hacker has to go through the bother of getting a 3D printer and manufacturing the cases with the appropriate connectors before he can slip an SD card (that ain’t cheap) into it, for every single copy he wishes to pirate. It’s the same sort of idea as why CB’s go to such extremes to make it hard to counterfeit money. Not everybody is going to be able to print it, and if someone can you can find them pretty easy.

So GameStop and EB games will probably reorganize and shed unprofitable stores when the lease comes up, but they are about to go away entirely about as much as bank branches did after the invention of the ATM and online banking, at least in the short term.

What are the major threats? Well, continued increases in internet capacity so something like Halo could be streamed to millions of users all at once. Amazon obviously. But I think all retail brick and mortar stores are in the same boat on that. And I don’t know if it is really going to go away. Last time I was at Cross Iron Mills (it’s a mega mall) parking was impossible. I’ve heard tell it still is even with covid.

I’ve detailed this before but the last time I was in EB Games it cost me $580 to get out of there. If they do go broke, it won’t be on my son’s account.

#78 Nonplused on 02.10.21 at 6:56 pm

#4 Demesticated Dog on 02.10.21 at 2:10 pm
We’re fond of dogs on this blog, which started to draw parallels for me lately. It dawned on me that dogs – an entire animal group domesticated and not able to survive in the wild without their masters providing them necessities of life – is very similar to what is happening to humanity today.

—————————————

Go to any reserve and you will find that they have a plethora of dogs that survive on their own. Part of it is there own fault, didn’t do enough neutering, but part of it is also all the people who don’t want that litter of puppies dropping them in the ditch. To their credit, the first nations around here bring as many of the dogs as they can to the humane society. That’s where we got ours. He’s a reserve dog. And a good boy at that.

#79 theoryAndPractice on 02.10.21 at 7:00 pm

#21 SoggyShorts on 02.10.21 at 3:16 pm
I don’t quite understand what a government-produced version of bitcoin would be.
What’s the difference between that and the numbers shown in my online bank account?
It seems to me that all of the theoretical advantages of crypto over fiat go away if it’s the government running it.

It is not for you to get some benefit, it is for them don’t you get it? While I agree the positive side, it will help to prevent abusing the system by crooks, but on the other side of the coin, privacy will be toasted for average Joe and you will never know how this data would be used against you and profiling you! I’d say it would be like in George Orwell’s 1984, when you get some income or when you spend it, they will know in real-time what you just did ! and indeed they can tax you real-time without waiting for April 30 of the year as well.

#80 Bill on 02.10.21 at 7:03 pm

Garth you couldn’t even make this insanity up!
Ill watch from a safe distance.

A good one side 3/4 inch piece of plywood is near $100…
Nuts is everywhere.

I wanted to share this again, too good not to. A great piece from the FP

“Now onto an Inconvenient Truth. Mr Gore the crook said there wouldn’t be any snow to ski in dem Dar Hills by now.
Anyone that bought into the climate change carbon tax scam is a complete fool. It’s snowing AGAIN here on the BC Coast and I’m choked cause I gotta fire up my bobcat and plow for my tenants.
Everything is a racket and social media is the fuel that propels this garbage. No diff than the stock market. Stay AWAY”

https://financialpost.com/opinion/patrick-moore-de-bunking-climate-and-other-varieties-of-alarmism

#81 Capt. Serious on 02.10.21 at 7:03 pm

Wilbur is a good dog and a dog with a job.

#82 Blessed_Canadian_Millenial on 02.10.21 at 7:04 pm

As someone who owns a Telsa Model 3 (LR AWD), let me clarify how my Tesla actually handled the brutal cold in Edmonton.

At -30 and below, the efficiency is at 56% level as per the car’s computer. A significant decline, yes, but at over 300 km usable range, it is not as big of an issue.

You can pre-heat the car which gets it nice and toasty within 6 minutes at a cost of a few pennies.

You’re not burning fossil fuel and saving the planet at the same time.

A huge win-win. I’d be happy to answer any questions.

Doesn’t Alberta electricity come from fossil fuel? – Garth

#83 Nonplused on 02.10.21 at 7:11 pm

“And what, pray tell, can you buy with a piece of gold? Gas? Groceries? Ammo? – Garth”

All of the above and more. But you first have to pawn it.

My wife’s wedding ring is probably worth about $8,000 new today. (I was poor when I bought it.) But, of course, she’d be lucky to get $4,000 at pawn. That’s a 50% hair cut on diamonds and gold. But I think that is still better than where Bitcoin will settle out.

Gold only has value as money, in other words, when converted to fiat. Never forget this small detail. – Garth

#84 S.Bby on 02.10.21 at 7:12 pm

Random length lumber futures for March now $951/MFBM.

Will we hit $1000 ?

#85 crowdedelevatorfartz on 02.10.21 at 7:12 pm

“Doesn’t Alberta electricity come from fossil fuel? – Garth”

++++

Shhhhh.
The brutal, factual truth isn’t appreciated.
.

#86 Barb on 02.10.21 at 7:14 pm

“8 criminals were arrested by Europol on Tuesday following an international investigation into the theft of $100 million of cryptocurrencies through sim swapping attacks that targeted celebrities and high-profile figures.”
——————————–
Sounds like a new James Bond 007 movie.

#87 I think not on 02.10.21 at 7:26 pm

Bitcoin is not at all what a BoC would come up with for a digital currency. A BoC digital currency would not be a store of value just like the paper money isn’t a store of value. Bitcoin has far greater store of value than any fiat currency..thats why its at $45000

People either get it or they don’t. Elon Musk gets it.

#88 kc on 02.10.21 at 7:28 pm

#30 Re-Cowtown on 02.10.21 at 4:06 pm

55 calgary rip off on 02.10.21 at 5:04 pm

Get used to it… c’mon now. 1 mask isn’t good enough, now they want you to wear 2.

we are told that there is some killer stuff in the air and the only people who can protect us are the governments.

Here take this shot as it will help, maybe, or not, or it will have adverse affects that will harm you. but that’s ok, cuz after the shot you still can’t go out without a mask or see your granny, or have a normal life….

there is this NEW killer strain that might be worse, or not, but more contagious or not, but be afraid of it anyway cuz we are the government and say you have to live in fear.

outside with no mask, here is a fine for you…

get used to it…..

we are all screwed for life now.

cheers

#89 Sail Away on 02.10.21 at 7:29 pm

#48 Eco Capitalist on 02.10.21 at 4:43 pm
@ #34 Sail Away

Speaking of that: What’s a pirate’s favourite letter?

———-

X. That’s where the treasure is always buried; under the X.

———-

Good point. And they’re awfully fond of the C.

#90 TurnerNation on 02.10.21 at 7:31 pm

A New Variant of Blog Dog was detected today. A mutant.

Remember that ‘crazy leaked plan’? And what its Q1 entailed? Read it again. There is no more news only predictive programming :

“Quebec mulls COVID-19 checkpoints at Ontario border as March break looms (globalnews.ca)”

Same-same. Oh those endless variants. CV is a control system and our elites ain’t giving up that power.

“White House looks at domestic travel restrictions as COVID mutation surges in Florida.”
………..

Anyway to the Business of Sports, the CFL was canned, the Blue Jays and Leafs were barred from the country; and major league sports in USA are enjoying record low ratings on TV.

That ‘new system’ leaker in the late 60’s who passed on that Soccer will become really the only sport permitted…any more evidence? Oh this. Yep CV did this.
….

If you want players to QUIT then do this:

Major League Baseball announces mandatory electronic tracers and strict restrictions on player behavior for 2021 season (si.com)
“Every covered Individual must wear a Kinexon contact tracing device at all times while in club facilities and during club directed travel and while engaged in team activities, including group workouts and practices.”

“Players, on-field staff and non-playing personnel who require access to them may not during spring training, the season or the postseason go to indoor restaurants, bars, fitness centers, casinos, bowling alleys, pool halls, dance clubs or any indoor gathering of 10 or more people.”

#91 kc on 02.10.21 at 7:31 pm

84 S.Bby on 02.10.21 at 7:12 pm

Random length lumber futures for March now $951/MFBM.

Will we hit $1000 ?

XXXX

talk about a bubble…. collect while you can, money switches from oil/gas… minerals to lumber like waves….

#92 George S on 02.10.21 at 7:33 pm

From what I have read about bitcoin in reliable news media, the transaction costs are astronomical. Each transaction requires about the same amount of electricity as an average household uses in one month. Bitcoin “mining” operations are built near huge hydro power plants because the electricity is stable and cheap. As more bitcoins are “mined” (or paid to people as a fee for processing the transactions) the transaction cost in terms of electricity goes up.
In a world where we have a problem with greenhouse gas emissions according to a significant portion of the population there should be no place for such a blatant waste of electricity that could otherwise be used to offset power generation from fossil fuel power plants.

It seems that pro-BTC people like to make extravagant claims about how safe it is and how stable and how it is going to replace every other type of currency on earth because of its wonderfulness.
It is one thing to say stuff like this but it seems to me that there is a lack of evidence showing that it is anything but a joke that somebody is playing on intellectually disabled people.
When someone like Elon Musk makes a big thing about buying Billions of dollars of anything and the stock price goes up, notice that he doesn’t say anything about when he is going to sell that stock that he bought. Pump and dump. F- the suckers. Get richer.

Everyone likes to think they are an outlaw or a maverick, living by their own rules. Things like bitcoin play into this fantasy.

For all you people talking about Monopoly, one variation I think would be fun is to play for 1 or 10 cents per dollar. What that means is that when you get money from the bank you pay 1 or 10 cents per dollar, everyone cashes in at the end. (I read about it in a fiction book, “One Flew Over the Cuckoo’s Nest”

#93 IHCTD9 on 02.10.21 at 7:35 pm

#85 crowdedelevatorfartz on 02.10.21 at 7:12 pm
“Doesn’t Alberta electricity come from fossil fuel? – Garth”

++++

Shhhhh.
The brutal, factual truth isn’t appreciated
——

Elon would also like everyone to stfu about this stuff.

Let the indoctrinated remain.

#94 Nonplused on 02.10.21 at 7:37 pm

“Doesn’t Alberta electricity come from fossil fuel? – Garth”

Bingo.

We have some wind and hydro but the heavy lifting is done by fossil fuels including when charging Teslas. There has been a big shift away from coal towards natural gas so emissions are down, but ya it would be fair to say a Tesla in Alberta runs on natural gas and coal. And emissions are actually higher. There is a lot of energy losses converting fossil fuels into a charged battery. Anyone who has ever gone camping with a generator knows this instinctively.

So here is how to think about it for you students that haven’t yet completed a course in thermodynamics. You have two ways you can power your car. One is to run a generator on fossil fuels and charge your batteries (better get a big one, at least 10,000 watts, probably 20,000). The other is to put the engine from the generator in the car and power the wheels directly, mechanically. At the very least, the second option means a lighter car and no need to strip mine for lithium. And less total emissions per mile.

Electric cars are a joke unless you live right beside a big hydro damn or a nuclear power plant. The secret to reducing emissions is to drive a smaller car or a motorcycle if you can. A 250cc motorcycle can get up to 80 mpg on asphalt, a 125 cc scooter would blow your mind. It is less than coffee money to run it all day.

There is a reason why when natural gas is available that is what the furnace runs on. The economics of the situation has always been to use the least amount of energy possible because that is the lowest cost. And it turns out the lowest cost is often associated with the least environmental damage. If you are spending money, chances are you are harming the environment.

So, then, which do you think has the least environmental damage? An $18,000 Corolla that gets 35 mpg or a $100,000 Tesla that goes 0-60 in 3.4 seconds and weighs as much as a 3500 truck that could haul a Corolla in the back. I have studied thermodynamics and I can tell you. But you won’t like it. Once you understand the “science”, if you a capable of doing so, your world quickly falls apart.

Electric cars may be the way of the future, once we have a fusion nuclear reactor on every block. But for now they are a colossal waste of money and resources.

#95 IHCTD9 on 02.10.21 at 7:37 pm

#82 Blessed_Canadian_Millenial on 02.10.21 at 7:04 pm

I’d be happy to answer any questions.
——

How much did the 3 cost you?

#96 George S on 02.10.21 at 7:39 pm

I just noticed this:

““Doesn’t Alberta electricity come from fossil fuel? – Garth”

++++

Shhhhh.
The brutal, factual truth isn’t appreciated.
.”

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

Of course it does. Electric cars in Alberta actually burn coal in a roundabout way and they will burn coal until there are no more coal fired power plants left in Alberta and then they will burn natural gas until there are no more natural gas fired power plants in Alberta and then they will burn? until everything is replaced by nuclear or renewables. Because they use fossil fuel generated electricity they are actually responsible for more GHG emissions than regular gasoline cars over their useful lifetime.

#97 Millenidiot! on 02.10.21 at 7:44 pm

#82 Blessed_Canadian_Millenial on 02.10.21 at 7:04 pm
As someone who owns a Telsa Model 3 (LR AWD), let me clarify how my Tesla actually handled the brutal cold in Edmonton.

At -30 and below, the efficiency is at 56% level as per the car’s computer. A significant decline, yes, but at over 300 km usable range, it is not as big of an issue.

You can pre-heat the car which gets it nice and toasty within 6 minutes at a cost of a few pennies.

You’re not burning fossil fuel and saving the planet at the same time.

A huge win-win. I’d be happy to answer any questions.

_______________________________________

OK, then answer this. How come millennials aren’t as bright as they think they are?

“Electricity sources in Alberta are unique because of the province’s abundance of oil, gas and coal. Together, coal and natural gas are responsible for 87 percent of the energy generation in the Alberta electricity market.”

Never let facts get in the way of a good story!

#98 kww on 02.10.21 at 7:44 pm

And what, pray tell, can you buy with a piece of gold? Gas? Groceries? Ammo? – Garth

A store of value.
There’s a reason it is called “God’s money”.

Guess He doesn’t shop much. – Garth

#99 Nonplused on 02.10.21 at 7:46 pm

“Gold only has value as money, in other words, when converted to fiat. Never forget this small detail. – Garth”

I don’t think I was disagreeing with that point. I was stating that a 50% loss on bling was possible with gold, whereas crypto could be 100%. The true value of crypto is zero. Gold will always have some value although it could be shockingly less than you paid for it. But I think in that environment ammo will cost less too.

Money is an accounting system. It’s just numbers. It’s all relative. There is therefor no reason that a power hungry crypto currency can be better than a well managed fiat currency or even gold. But I am not advocating a return to a gold standard, let it float like all commodities do. In the good times, the better times, it will go up. In the down times it will go down. But it is not money. It is a commodity. Peace.

#100 Dogman01 on 02.10.21 at 7:46 pm

#82 Blessed_Canadian_Millenial on 02.10.21 at 7:04 pm
Tesla
~ at night do you have it in a heated indoor garage?
~ at work do you have heated indoor garage?
~ what is the temperature where you are now?
~ do you own two vehicles (like a backup)?
~ maintenance costs annually, and where would you take it, Tesla dealer only?
~ long road trips and charging stations, how long to charge?
~ what is the expected life of the batteries?

I get the things have strengths, but it is the Anna Karenina principle . A deficiency in any one of a number of factors dooms an endeavor to failure. It needs to be fit for purpose fit for use in the circumstances of reality.

Fossil Fuel generated electricity and massive pollution for Battery production and disposal.

This is why the Environmentalist idealist’s lose those of us with a modicum of “common sense”, the solution does not address the environmental problem and does not address the problems a modern gas powered vehicle overcomes.
Now the Hybrid guy may be onto the sweet spot.

#101 Sheesh on 02.10.21 at 7:52 pm

#41 Penny Henny on 02.10.21 at 4:33 pm
In most municipalities your assumption would be wrong.
….
Please enlighten me.

#102 IHCTD9 on 02.10.21 at 7:52 pm

#84 S.Bby on 02.10.21 at 7:12 pm
Random length lumber futures for March now $951/MFBM.

Will we hit $1000 ?
———

Got a quote on some 10”x10”x.500” HSS A500C last week. 6000 lbs, $190.00 C#. That’s a King sized LOL! 304 stainless steel costs that much. Yeah, that project ain’t moving ahead.

Wood is bad, but I think carbon steel is even worse right now.

#103 Andrew on 02.10.21 at 7:52 pm

“The reason I’m home is my wife has 5 comorbidities, and we have two special needs children who are going to school. ”

It takes an epilogue like that to you remind you who the true heroes are sometimes.

#104 Faron on 02.10.21 at 7:59 pm

#34 Dogman01 on 02.10.21 at 4:17 pm

#17 Faron on 02.10.21 at 3:02 pm

Electric car, out on my driveway in -40 c temperature. Parked for 12 hours.
Then at work outside for 8 hours in -30.

No battery heater will keep that thing working.

Can you remind me where you are where it’s -40? I see -30 in Edmonton. Mean overnight temp will be warmer. Reminds me of when I lived in Calgary. I think -32 was as cold as it got even though everyone claimed -40 was common.

Anyhow, if you aren’t charging your car overnight, that’s on you. If you are, then some of the current gets diverted to heating the battery. It has to for the battery to function properly. So, your overnight prob isn’t a prob.

For your work case. A cool thing about a battery is that it is a source of electricity for heating. Unless really discharged, you should be able to squeeze out a few kWh for some heat.

Again, I’m seeing daytime temps closer to -25 though, so -30 is an extreme case.

Blessed_Canadian_Millennial may not have the firmest grasp on where their electricity comes from, but I’ll take their word on usability.

Plus, with climate change, there will be fewer and fewer coldsnaps.

#105 Silent Observer on 02.10.21 at 8:04 pm

#82 “A huge win-win. I’d be happy to answer any questions.”

“Doesn’t Alberta electricity come from fossil fuel? – Garth”

Oh Garth, you don’t get it. As long as I can tell people I drive an electric vehicle, I don’t need to ask those questions. You know, questions like how are Lithium and Rare Earths mined, and what’s the impact on the environment from that. I just plug it into the wall and I can pat myself on the back.

#106 Sail Away on 02.10.21 at 8:08 pm

#86 Barb on 02.10.21 at 7:14 pm

“8 criminals were arrested by Europol on Tuesday following an international investigation into the theft of $100 million of cryptocurrencies through sim swapping attacks that targeted celebrities and high-profile figures.”

———–

Sounds like a new James Bond 007 movie.

———–

Covid 007 typed furiously, keeping a wary eye on the VPN, knowing that he could be discovered at any moment. Suddenly- success! The criminal headquarters was pinpointed.

As the wiper team closed in, the crypto-crims, realizing the jig was up, exploded from the basement bunker and sprinted in every direction, spewing Doritos and Mountain Dew with every step.

Lungs burning and long-unused muscles screaming with pain, the CCs could not maintain their torrid pace. First one, then the others in rapid succession slowed, stopped, dropped to their knees and collapsed, faces reflecting sheer agony. Summoning immense will, the mastermind continued further… further… until even she could move no more.

After confirming nobody had made it past 50 feet, the wiper team cuffed the crims and barricaded the scene. “Fine job, gents”, said Covid 007, waddling amongst the computers, poking keyboards with sausage-sized fingers.

#107 Nonplused on 02.10.21 at 8:13 pm

#42 Another Deckchair on 02.10.21 at 4:33 pm
@17 Faron

“The battery packs in electric cars have thermal management systems. Sure, range is less (couple 10%), but still plenty for most driving…”

According to:

https://www.geotab.com/fleet-management-solutions/ev-temperature-tool/

A Tesla Model S, drops by about 50% at -20C, as low as the tool goes.

From 439km at 21c (its best range) to 227 at -20c, quite the drop!

(and, it’s colder than -20 out in Alberta right now)

——————————

My cell phone does that too when I go skiing. I don’t notice anywhere near the same decline in my truck or car. 50% just to be cold? That’s insane. That would be like my truck going from 18 mpg on the highway to 9. I get better mileage than that when I am towing.

I can’t imagine what sort of mileage the electric semi’s are going to get when it is -20. Probably not enough to leave the charging station and then pull right back around and go back in them again.

#108 Steve on 02.10.21 at 8:15 pm

“The battery packs in electric cars have thermal management systems. Sure, range is less (couple 10%), but still plenty for most driving. A plugged in car can also keep the pack warm ahead of the drive. Much smaller issue than you think.”

What about the interior of the car? No heater core means you’ve got to drain those batteries even more trying to keep the windows clear and your toes warm.
Electric car range plummets in the cold.

#109 Guelph Guru on 02.10.21 at 8:18 pm

The super highs we are seeing everywhere is giving me a very bad feeling. It seems that borrowing, margin or otherwise is causing a positive feedback and the system is about to go unstable. Short term woes are in sight. When, I don’t know.
And yes, save taxes don’t evade them. The tax man is backed by the state guns.
Tx Garth for the tax tips. Always appreciated.

#110 crowdedelevatorfartz on 02.10.21 at 8:25 pm

@#93 IHCTD9
“Elon would also like everyone to stfu about this stuff.

Let the indoctrinated remain.”

++++
ahahahaha.

The truth be told.
I’ll probably buy an electric car in the next 10-15 years when the “self driving ” can handle a road covered in snow with zero lines and posts to tell it where it is.

I think if the big auto manufacturers are finally jumping on the electric band wagon….
Gas stations will be few and far between in 30-40 years.
Time for Alberta to diversify off tar, gas and coal……?

Its windier and sunnier there than most places in Canuck-da.

And then there’s the pig and cow manure.
Over to you Faron……..

#111 Gravy Train on 02.10.21 at 8:26 pm

#89 Sail Away on 02.10.21 at 7:29 pm
#48 Eco Capitalist on 02.10.21 at 4:43 pm
@ #34 Sail Away

Speaking of that: What’s a pirate’s favourite letter?

———-

X. That’s where the treasure is always buried; under the X.

———-

Good point. And they’re awfully fond of the C.

———————

P gets an honourable mention. For without it, a pirate becomes irate.

#112 Doug in London on 02.10.21 at 8:26 pm

governments, politicians and central banks will allow a private, unregulated alternative currency to become mainstream just as soon as Doug Ford starts doing Pilates. So, fuggedaboutit.
————————————————————–
There are many reasons why I follow this blog, but one is definitely the comic relief we need in these unusual and interesting times.

#113 Faron on 02.10.21 at 8:30 pm

#93 IHCTD9 on 02.10.21 at 7:35 pm
#94 Nonplused on 02.10.21 at 7:37 pm
#96 George S on 02.10.21 at 7:39 pm
#97 Millenidiot! on 02.10.21 at 7:44 pm
#100 Dogman01 on 02.10.21 at 7:46 pm
#105 Silent Observer on 02.10.21 at 8:04 pm

Don’t let the facts get in the way of your antiquated thinking:

But what are the global warming emissions of electric cars on a life cycle basis—from the manufacturing of the vehicle’s body and battery to its ultimate disposal and reuse? To answer this, the Union of Concerned Scientists undertook a comprehensive, two-year review of the climate emissions from vehicle production, operation, and disposal. We found that battery electric cars generate half the emissions of the average comparable gasoline car, even when pollution from battery manufacturing is accounted for.

https://www.ucsusa.org/resources/cleaner-cars-cradle-grave

And even if the electric car is powered by electricity generated from coal, it’s still less emissive in total and more efficient than an ICE on a BTU by BTU basis.

#114 IHCTD9 on 02.10.21 at 8:33 pm

#94 Nonplused on 02.10.21 at 7:37 pm.

A 250cc motorcycle can get up to 80 mpg on asphalt…

— –

Ms. IH has a 250 Virago. Best tank so far is 94 mpg. It’s always north of 85 mpg. This, from a Stone Age air cooled, carbureted v-twin, 300 lb bike, 125 lb rider.

That’s 2.5 l/100 km for you metric folks. Two cents per kilometre at current Ontario prices. I don’t think you can pedal a bike for that cheap, and if CE Fartz was doing the pedalling, it’d probably be worse for the environment too.

#115 Faron on 02.10.21 at 8:34 pm

#89 Sail Away on 02.10.21 at 7:29 pm

#48 Eco Capitalist on 02.10.21 at 4:43 pm
@ #34 Sail Away

Speaking of that: What’s a pirate’s favourite letter?

———-

X. That’s where the treasure is always buried; under the X.

———-

Good point. And they’re awfully fond of the C.

I enjoy your jokes on their own, but I particularly enjoy how they reveal that you are a dad. Quintessential dad jokes.

#116 Don Guillermo on 02.10.21 at 8:39 pm

#85 crowdedelevatorfartz on 02.10.21 at 7:12 pm
“Doesn’t Alberta electricity come from fossil fuel? – Garth”

++++

Shhhhh.
The brutal, factual truth isn’t appreciated.
*****************************************
It seems when you burn carbon, spin turbines, transform energy to higher potentials, push higher potential energy through wires, transform energy down to usable potentials and then charge your vehicle you’ve nailed the green.

#117 Nonplused on 02.10.21 at 8:40 pm

#71 SoggyShorts on 02.10.21 at 6:09 pm
#56 The summer of riots on 02.10.21 at 5:11 pm
Here’s where ya lost me:
“ABOUT US
What started with the effort to Reopen Ontario Churches… “
—————-
I mean what’s so important about meeting together in person during a pandemic to have 1-way conversations with your imaginary sky daddy?
He’s all-knowing and all-seeing, right? Can’t you just pray at home?

—————————

Concepts can have very real implications. You can come to the conclusion if you want that Dog isn’t real, but all those supposed “witches” and “heretics” who got burned alive over the centuries probably would like to differ. Ideas have consequences, even if they have no basis in reality like solar panels and electric cars.

#118 Doug t on 02.10.21 at 8:40 pm

#88 KC

Yup pretty much – cause it’s the “New Normal” duh – we are pretty much mice in a lab experiment at this point – it’s amazing how the population quickly abides by whatever TPTB tell them, but for how long? When do they decide that they actually want to LIVE a life worth living ? How long are people willing to submit to the control of the elite? How many years do you have to live and do what you want to do? MEH live it up people cause you never know what’s coming now

#119 Faron on 02.10.21 at 8:41 pm

#93 IHCTD9 on 02.10.21 at 7:35 pm

#85 crowdedelevatorfartz on 02.10.21 at 7:12 pm

——

Elon would also like everyone to stfu about this stuff.

It is curious that TSLA is in every ESG ETF fund out there, but now owns a decent sized stake in a stupidly energy intensive asset (if you can call bitcoin that).

Between that move and firing rockets into space, he’s hardly running “clean” businesses.

#120 conan on 02.10.21 at 8:41 pm

One thing is guaranteed, when currency goes digital we are going to uncover a lot of cash transactions that were previously never declared to CRA. It could be 20-25 % of some businesses.

This is not an insignificant amount of money and these new amounts would pay for Covid over a 50 year period. Plus a whole bunch of other items.

#121 Ustabe on 02.10.21 at 8:46 pm

#101 Sheesh on 02.10.21 at 7:52 pm

#41 Penny Henny on 02.10.21 at 4:33 pm
In most municipalities your assumption would be wrong.
….
Please enlighten me.

You need a CDL to drive one of those trucks, pesky air brakes and all. The swamper hanging off the back most likely doesn’t have one…other wise he’d be sitting inside as opposed to hanging off the back.

they are two separate positions, one with more training and certification required.

#122 domi on 02.10.21 at 8:47 pm

Yes!
I learned you can come out in the green on one of those ridiculous yolo gambling stock moves by having a plan. E.g. set a bunch of “realistic” limit orders to sell as it moves up. And stop losses are crucial to save you on the way down. Paper Hands > Diamond Hands, 99 times out of 100. Don’t get too greedy otherwise you end up holding the bag. Oh, and make sure you only invest money that you can afford to loose just incase it doesn’t work out as planned.

Anyways, that was an interesting social experiment. I am not to keen to do that again (at least for a while). Happy to be back to concentrating on value investing again.

Maybe some lithium stocks or that new social media IPO. (LOL just kidding – not a chance!). Seems to be some cheap REIT’s out there though right now. Hmm.
But that requires some actual DD. Too tired tonight, maybe tomorrow.

Going to pet my dog and make myself a nice drink now.

#123 Faron on 02.10.21 at 8:56 pm

#107 Nonplused on 02.10.21 at 8:13 pm

#42 Another Deckchair on 02.10.21 at 4:33 pm

——————————

Oh look Nonplussed, your drop from 18 to 9 isn’t happening, but something closeish to it is (and 18MPG? Seriously? You could at least try to care):

Cold weather causes higher fuel consumption. The U.S. Environmental Protection Agency (EPA) estimates that a drop in temperature from 24°C to 7°C can increase fuel consumption in urban commutes by 12 to 28%

Not as bad as an electric car, for which it is certainly not ideal, but not as good as you thought. And that’s only down to 7°C. Air gets denser the colder it is by 1/T, so by the time you’re driving in -20°C the numbers are getting closerrrr.

https://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/oee/pdf/transportation/fuel-efficient-technologies/autosmart_factsheet_3_e.pdf

#124 Faron on 02.10.21 at 9:11 pm

#116 Don Guillermo on 02.10.21 at 8:39 pm

#85 crowdedelevatorfartz on 02.10.21 at 7:12 pm
“Doesn’t Alberta electricity come from fossil fuel? – Garth”

++++

Shhhhh.
The brutal, factual truth isn’t appreciated.
*****************************************

…you’ve nailed the green.

—-

Ummmm, yeah, nope.

https://cdn.blog.ucsusa.org/wp-content/uploads/ucsusa_87036240-1024×624.png

Speaking of NOPE. Google nope_its_lily. Young lady got a shout out from The Big Short’s Burry for her index that supposedly indicates what the options market is saying about index moves. Smart lass. Maybe? It’s hard to tell with all of her young person’s speak.

#125 domi on 02.10.21 at 9:12 pm

Oh. Forgot to mention. Somewhere in a landfill (or maybe it was smelted down at a ewaste dump in west africa – I will never know) is a hard drive with 40 bitcoins I mined in 2009. I was playing with that and SETI @ Home while playing video games in my basement then. I still have a Seti certificate somewhere. Thats worth about the same as a single GME stock now.

Those bitcoins where worth like $5 back then when my hard drive crashed. Hmmm, according to todays bitcoin rate, thats $2,259,760. Hold on I am getting my shovel and heading to the landfill in Milton. Wish me luck.

#126 Job#1 on 02.10.21 at 9:14 pm

#30 Re-Cowtown

A look at the variants’ countries of origin at Worldometer might provide a clue. Here, for instance is data on S. Africa:

https://www.worldometers.info/coronavirus/country/south-africa/

Draw your own conclusions.

#127 Faron on 02.10.21 at 9:17 pm

#98 kww on 02.10.21 at 7:44 pm

There’s a reason it is called “God’s money”.

Guess He doesn’t shop much. – Garth

That deserves a shout out. Hilarious.

#128 Don Guillermo on 02.10.21 at 9:20 pm

#86 Barb on 02.10.21 at 7:14 pm
“8 criminals were arrested by Europol on Tuesday following an international investigation into the theft of $100 million of cryptocurrencies through sim swapping attacks that targeted celebrities and high-profile figures.”
——————————–
Sounds like a new James Bond 007 movie.
*************************************
Probably more Austin Powers !

#129 KNOW IT ALL on 02.10.21 at 9:25 pm

WHY are we talking about ELON MUSK on this blog.
The RICHEST man in the world who deserves every dollar of it.

His INVENTIONS in his lifetime (currently 49) have far surpassed the accomplishments of anyone on Earth today:

Electric vehicles, rocket ships, Zip files, Paypal, Underground tunnels, and AI/human interactions.

He is a visionary who’s thought process bends towards bettering the human race than his wallet.

That’s why he has invested in Bitcoin. There are billions of people still to this day that don’t have access to a bank account (think African village) but they do have cell phone access.

Crypto currency helps to put food on the plates of many who could have never done that before.

https://www.marketwatch.com/story/this-is-where-cryptocurrencies-are-actually-making-a-difference-in-the-world-2018-10-03

#130 crowdedelevatorfartz on 02.10.21 at 9:28 pm

IHCTD9
“I don’t think you can pedal a bike for that cheap, and if CE Fartz was doing the pedalling, it’d probably be worse for the environment too.”

+++

I’m lazy tonight.
Tossed a bunch of cut up pork tenderloin into a pot of beans……..

Be afraid……very afraid.

#131 I am not a Cat on 02.10.21 at 9:39 pm

So first T2 has got us dipping into COVAX and now he’s chasing Modi of India to be added to list of 3rd world countries that won’t get cut off either….

Way to go T2!! Good job you dressed up and danced for them!!! .. what a gong show he is …blackface and fancy socks

https://twitter.com/profamirattaran/status/1359608204989067264

#132 The Totally Unbiased, Highly Intelligent, Rational Observer on 02.10.21 at 9:52 pm

REMEMBER

God invented nice shiny things like gold and silver.

National governments invented fiat currencies to relieve people of their gold and silver.

Pimple-faced, pornography-addicted, computer geeks invented cryptocurrencies to relieve people of their fiat currencies.

#133 The Woosh on 02.10.21 at 9:56 pm

#87 I think not on 02.10.21 at 7:26 pm
Bitcoin is not at all what a BoC would come up with for a digital currency. A BoC digital currency would not be a store of value just like the paper money isn’t a store of value. Bitcoin has far greater store of value than any fiat currency..thats why its at $45000

People either get it or they don’t. Elon Musk gets it.

———————————————

Elon definitely gets it. He gets how he can continue to fleece you to increase his own net worth. Keep being fleeced like the sheep you’ve become! Bahhhhh…

#134 Ed on 02.10.21 at 9:57 pm

Gimme a break…you’ll forget that you even own a share more likely.

#50This is only the start of the growth of these stocks.
As the states s l o w l y come to their sanity and de- criminalize. these will still be in growth mode.
So to sell now is premature to say the least.
I’ll be selling mine after Biden removes the criminal list. He will too just because they have ruined so many lives. Also because of the cost to hold in prisons so many for such a minor offense.

#135 AM in MN on 02.10.21 at 10:08 pm

Tried to post this a couple of days ago, it didn’t go through, so I’ll try again.

I have yet to see a post against Bitcoin from anyone who understands how it works.

CB’s have been working hard against it all over the world for years, and they’ll keep trying.

I think it was last summer when I guessed that we’d be a year or so away from Garth having to take the time to research Bitcoin and advise to get in. We’ll see if I’m right….

As Garth says, stay away from crypto….unless you want to be part of the future.

As an example of what it can be used for, check out this link on a Fintech firm using BTC and a companion called the Lightning Network to transfer and convert money from a US bank to an EU one. If you’ve ever used the global SWFT system, you know the costs and time for doing this.

This one takes seconds at almost no cost. The key is something called “Chain of Custody”.

https://twitter.com/JackMallers/status/1346869624789463040?s=20

Unlike a bank wire transfer, the ownership is kept with the sender, not transferred to the bank first, and thus no counter-party risk. The price of BTC doesn’t matter, only the amount it could change in under 1 second or so.

These and so many other applications require the Bitcoin network as the backbone. Thus, firms engaging in it need to keep a reserve balance.

I suspect that we also about a year away from every S&P500 company having to report where they stand on holding and using Bitcoin. If they all had to put 1% of their reserves into it, the price would be many hundreds of $k/BTC.

A short tutorial for those not acquainted…
BTC can be traded at 8 decimal points to a single “coin”. Thus, the value would need to be US$10M/BTC for the smallest tradeable unit to be = US$0.01, or 1C.

Its security is backed up by the processing power of the global mining operations, which also settle transactions. This is known as the “hash rate”, and none of the other cryptos even comes close to BTC.

It uses more than 100x the electric power of the worldwide Visa card network to run, for example. There isn’t enough other computing power in the world to overwhelm it, and even if there were the detection systems have gotten very efficient.

Take the time to understand it before you buy. Keep custody of it yourself (private keys).

#136 Sheesh on 02.10.21 at 10:09 pm

#121 Ustabe on 02.10.21 at 8:46 pm
#101 Sheesh on 02.10.21 at 7:52 pm

#41 Penny Henny on 02.10.21 at 4:33 pm
In most municipalities your assumption would be wrong.
….
Please enlighten me.

You need a CDL to drive one of those trucks, pesky air brakes and all. The swamper hanging off the back most likely doesn’t have one…other wise he’d be sitting inside as opposed to hanging off the back.

they are two separate positions, one with more training and certification required.
…..
Not necessarily, according to job postings on indeed. I mean yes, necessarily for the licence, but most postings specified a split between driving and the dirty work. I did find one listing for the ‘swamper’ only position for $16 bucks an hour.

#137 JEff on 02.10.21 at 10:10 pm

Obviously government “stable coins” would be completely redundant and serve no purpose whatsoever. They would be merely another iteration of fiat currency. There value, like that of all fiat currencies, would be dictated by the whims of central banks. Bitcoin, in contrast, is a highly stable store of value because it’s supply isn’t determined by near sighted politicians.

#138 Calguy on 02.10.21 at 10:17 pm

The silent majority will need to speak out soon. Every week goes by with more and more restrictions and more money wasted. Trudeau wants to spend 15 billion on public transit? Nobody is riding transit. Is there an election coming? Remember this government wanted to deal with China on vaccines. They then did nothing while prorogued parliament for months on end. They have not dealt with long term care homes well. Where are the rapid tests? At least use rapid tests for airports and large settings to get activity again. We have suffered far too many layoffs and mental health issues to ignore. Are we content being a mediocre country?

#139 Peter on 02.10.21 at 10:31 pm

The wild west is what we have right now with our money system, its clogging our sewer systems with all the printing. The King Makers Federal Reserve/BOC cannot compete with an asset class they cant control and ruin.

Tesla, probably Oracle and Apple are possible to join the Bitcoin parade. 1.5 Billion Apple users out there. Apple has 100 Billion that is worth less daily rotting in paper.

Lets see how the Government is going to tell the most successful companies on the planet how to conduct their business LOL

Everything is turning into an asset bubble, nobody wants paper.

I guess “why change now”

#140 Bob Loblaw on 02.10.21 at 10:32 pm

Can someone explain to me why there is a perceived rarity when it comes to bitcoin?

I get that there can only be 21m mined, but so what? You can buy and trade fractions of a bitcoin as small as 100 millionth of a bitcoin (aka a satoshi)

Fractions of bitcoins have the same economic utility as a whole BTC…meaning you don’t need a whole bitcoin to engage in commerce.

A satoshi, or any larger fraction of a bitcoin, will work exactly the same way as a whole unit.

So really, there can be 100m x 21m satoshis (or fractions of BTC). That’s 2.1 followed by 15 zeros, which is much more than all of the currency on earth translated to USD…Doesn’t sound very “rare” to me

#141 Chuck V on 02.10.21 at 10:38 pm

Mr. Turner – Time to start a YouTube Vlog? We need some Canadian content! You could even add some dogs.
You can have fancy clicky headlines like how to make money in the 2021 Crash!!!
https://youtu.be/1T1pPCwH7a8
Or
https://youtu.be/ocr9PcxkN1g

#142 Just Moi on 02.10.21 at 10:47 pm

#24 Faron

“I’d be happy to engage with you on climate change if you are interested. If not, I’d encourage you to seek other sources of info or additional sources.”

Maybe you should consider engaging with Dr. Tim Ball as well. He’s located right there in Victoria.

#143 Ifimay on 02.10.21 at 11:06 pm

Bitcoin cuts out the middleman, ie banks. No fees and you don’t have to pay rent on your own money. As long as taxes are paid, I don’t see the government shutting it down.

Why not give it a try? I guess time will tell. Altcoins are amazingly high in market value. They are very significant.

#144 Bill on 02.10.21 at 11:23 pm

#24 Faron on 02.10.21 at 3:34 pm

Climate emergency? Or Change that’s for sure.
Since the begining of time.
That discussion would be pointless for me as life is too short.
But thanks for the offer….
I’ve gotta go salt my parking lots and push snow so my tenants don’t get mad at me.

#145 IHCTD9 on 02.10.21 at 11:28 pm

#106 Sail Away on 02.10.21 at 8:08 pm

…After confirming nobody had made it past 50 feet, the wiper team cuffed the crims and barricaded the scene. “Fine job, gents”, said Covid 007…
— —- —

The familiar crack of C02 escaping a swarthy bottle, echoed off the kitchen walls. Covid 007 fell back into his EZ-boy, recalling the events of the day. That cardio training was worth every penny.

*snick*, a steady draw against a violet flame, and a plume of blue sends a sweet fragrance across the dimly lit room. Exhaling, 007 etches another notch into his mental bed post. How long can this last? How long before they finally get into my head?

His eyes… heavy, yet still cognizant of a subtle shadow diminishing the light radiating from the kitchen. The unnerving swish of fabric against fabric, just audible. Soft footsteps traversing the gloom. A foreign presence slips quietly into the room.

Wide eyed now, 007 barks into the darkness “who’s there!”. “What do you want!?” Silence… “Show yourself!” The plume of smoke in the room swirls as the apparition moves through the haze. An ashen silhouette casts a shadow across 007’s feet. Slowly. Covid lifts his eyes to meet the hollow gaze of his ghostly visitor.

“You’ve done very well Covid”, whispered almost imperceptibly. “You know too much…”. The words trail off in a faint echo.

Covid 007 sat transfixed. The spirit reached up and tipped his fedora, and then reached for a pack of Marlboros nestled in his lapel pocket. “Got a light?”. “Uh, yeah, sure” said Covid flipping the lid of his Zippo. “Thanks”. A voluminous cloud of tobacco smoke enveloped the spectre, and when the haze dissipated; he was gone.

Covid drained the dregs from his bottle. “Maybe it’s time I quit this gig” he said. “When bloody ghosts show up to offer encouragement, it’s definitely time to retire”.

A faint rumble abraded the calm in the room, and a distant voice reaching through space and time could be heard over the disturbance: “You can’t bend, what you can’t offend…”

#146 Sail Away on 02.10.21 at 11:35 pm

#122 domi on 02.10.21 at 8:47 pm

Maybe some lithium stocks or that new social media IPO. (LOL just kidding – not a chance!). Seems to be some cheap REIT’s out there though right now. Hmm.

————-

All Canadian REITS are cheap now as is O&G. O&G is bumping and uranium is leaping. I haven’t found lithium that seems trustworthy but plenty of nickel- Vale and/or BHP seem poised for the upcoming Tesla giant contract. Nano One might be worth a look.

Too bad about your BTC!

#147 George on 02.10.21 at 11:37 pm

Well, we have news. If you just bought into BTC at this week’s insane level, too bad. If you made some bank on it, cash in. It’s only a matter of time before CBs squish crypto – at least as it is currently traded.

———-

you mean the ‘tulip’ might correct again? that’s cool

is it really at $45,000?

who knew?

https://seekingalpha.com/article/4398056-cryptocurrencies-may-temporarily-save-world-from-stagflation

#148 Bill on 02.10.21 at 11:37 pm

Im on my 3rd electric car…
I wouldnt own one if we lived in a cold part of the country…
Then again their isn’t enough money anywhere that would want to make move to one.

#149 re., Stone on 02.10.21 at 11:41 pm

you dont have to tell anonymous people your ytd returns, bro. I’ll be grossly candid– nobody cares

#150 Sail Away on 02.10.21 at 11:41 pm

Deep Green is also interesting to watch. It feels like the scammiest scam to ever come down scam highway, but the concept has great appeal- valuable metals just waiting to be gathered! No environmental impact! Free money! Oh… there may be a few technical issues… but we’ll solve them.

https://deep.green/

#151 Bill on 02.10.21 at 11:51 pm

Faron
You got a tool to predict that there will be less cold snaps in the future?
I find that pretty funny.
I spent 3 days diving the great Barrier Reef and dove Whitsunday islands. Lived in the Caribbean and the sea of Cortez on a sail boat.
Dove in Philippines too. The reefs looked pretty dam good to me.
But ya keep hearing their dieing.
Absolute bunk.

#152 Hawk on 02.10.21 at 11:52 pm

#83 Nonplused on 02.10.21 at 7:11 pm
“And what, pray tell, can you buy with a piece of gold? Gas? Groceries? Ammo? – Garth”

All of the above and more. But you first have to pawn it.

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

If in 1934, you had put $35 in a lock box, for your grand children today, on opening the box, they’d have $35.

If you’d put in an ounce of Gold, they’d have $1,899 (physical prices,…….spot prices are irrelevant).

BTW – As long as you have your gold in bars or coins there will be many takers at a very small spread. In other parts of the world, even more so than North America, where precious metal awareness is greater.

Only if you’re silly enough to keep it in jewelry and other such stuff will you need to ever go to a pawnbroker for a substantial haircut. And never ever get suckered into paying premiums for numismatic “coin value” from dealers, simple bars and standard coins work just fine.

Read Mike Maloney’s advice on how to analyze precious metals, sometime.

#153 George on 02.10.21 at 11:54 pm

to compare BTC to GME is ignorant . Irresponsible .Basically doubling down , look silly.

the financial industry has opened its arms , two large fintech companies allow customers to use it for purchases. in developing countries it continues to gain market share .

hey this from RBC? :)

https://ca.finance.yahoo.com/news/apple-create-crypto-exchange-buy-164255191.html

#154 Comment on Electric Cars on 02.11.21 at 12:04 am

What I really like about electric cars is first, that right now they may have to use electricity from whatever energy resource is available, including carbon based energy, but all they need is electricity and considering that technology is evolving and the mix will very likely change in the future, they are not dependent on it.

And second, compared to a gas powered car, which are highly complex, expensive to maintain (real money pits) and not fun to maintain either, they look so much simpler built and yes I hope that will make a difference in the maintenance as well. My old car still runs fine but when the time comes and prices come down more, I’d definitely give EVs a very close look.

I think EV’s are here to stay and hopefully they can figure out the battery issues, but honestly with the accelerating speed of innovation, I think it’s just a matter of some years.

And re Elon Musk and Tesla, I don’t think the main drive for Elon is money, there are lots of vids of him out there where he explains himself, very fascinating. And considering where he is located, that’s how business is done out there and he has just adjusted to it.

#155 Al on 02.11.21 at 12:23 am

Man it’s 2021 and ppl are still spewing to the same anti Ev taglines from 10 yrs ago ( resources for batteries, coal energy etc..) Faron youre wasting your time, if any of these commenters were actually interested in learning the truth, which is old news by now , they could easily pull up the studies in very little time. But they’re not so they won’t, nor showing it to them will change their minds as it’s all emotion. The “I studied thermo” line from nonplused was gold. He should inform the scientist at the EPA of their error.

#156 Al on 02.11.21 at 12:29 am

“Oh by the way Pilates is so 90”. That comment is so 2010’s, it’s in again!!

#157 Nonplused on 02.11.21 at 12:41 am

#123 Faron on 02.10.21 at 8:56 pm
#107 Nonplused on 02.10.21 at 8:13 pm

#42 Another Deckchair on 02.10.21 at 4:33 pm

——————————

Oh look Nonplussed, your drop from 18 to 9 isn’t happening, but something closeish to it is (and 18MPG? Seriously? You could at least try to care):

——————————–

As always my friend, you split hairs and fail to see the wig.

Ya, I will admit my truck isn’t exactly fuel efficient, but I only really use it when we need to do truck things or a second vehicle. It is 10 years old now and has 70,000 km on it. I don’t think it is the chief cause of global warming on the planet. My big motorcycle gets near 50 mpg and I ride it when I can.

7,000 km per year I have been averaging in my truck. Seems like kind of a waste of money. But on the other hand it lives in a garage and might last longer than I do, drastically reducing the amount of steel that has to be melted on my account.

And yes it gets lower mileage when it is cold, but not that much lower. The one thing an internal combustion engine has is an abundance of heat. I probably get lower mileage with the air conditioner on in the summer.

I should get new tires though. Not because these ones are worn out, but instead because they are 10 years old. But 10 years from now there will be no Teslas that don’t need both new tires and new batteries, no matter how little you drive them.

#158 NSNG on 02.11.21 at 12:44 am

One non-obvious but very strong potential driver for Bitcoin is international trade. Today, that area suffers from monopolization and stagnation in the financial sector, despite huge turnovers.

The annual turnover from international trade is about 12 trillion US dollars. It is hard to translate this to a specific portion of the world’s money supply, but a lot of money is being kept in USD for the purpose of international trade, particularly intercontinental trade.

To understand why Bitcoin is a major potential driver here, one needs to understand how international trade works today.

Businesspeople in different countries don’t generally trust each other, at least not to the tune of millions of euros that aren’t theirs but their employer’s. Therefore, they used a trusted and well-established intermediary to buy a so-called Letter of Credit. Essentially, it’s a check on steroids that needs an additional call from the issuer to clear it.

This check costs from $100k and upwards in normal container-level trade. Businesspeople at all levels are frustrated at how badly they are treated by the banks who take their business for granted, so it’s personal, too.

So the order of events is roughly like this:

An order is placed
A Letter of Credit is bought and presented
The goods are manufactured and shipped
On unloading at docks, the Letter of Credit is cleared
The manufacturer is paid

The people in the factories in Asia are angry more or less every single day over how long it takes to get paid. Eight weeks for a payment to clear is not uncommon, so they need to deal with all sorts of currency fluctuation insurances as part of daily business. Additionally, the transaction is usually in USD, which is neither the buyer’s nor the seller’s native currency.

Do you see what would happen with Bitcoin as a drop-in replacement for USD here?

These traders are already used to dealing with the volatility of a non-native currency. Their frustration comes from the long waits (months!), from the cost of the Letter of Credit, and from the way they are treated by the banks that issue the LoCs.

Bitcoin has the potential to just do away with all of this, with the high reason for switching being the business advantage of fast payment and much lower escrow costs, and the low reason being the bad treatment by LoC issuers and frustration from payment delays. With both high and low reasons being perfect-storm-grade, it’s just a matter of clearing the obstacles for conversion…

https://falkvinge.net/2011/06/18/bitcoins-four-drivers-part-two-international-trade/

BTC also charges fractions of a percent for transactions. Visa and Mastercard, in another area BTC can compete, charge merchants upwards of 5%. Monopoly powers of banking middlemen are part of the problem and why governments have been motivated to stop crypto.

#159 Nonplused on 02.11.21 at 12:52 am

#114 IHCTD9 on 02.10.21 at 8:33 pm
#94 Nonplused on 02.10.21 at 7:37 pm.

A 250cc motorcycle can get up to 80 mpg on asphalt…

— –

Ms. IH has a 250 Virago. Best tank so far is 94 mpg. It’s always north of 85 mpg. This, from a Stone Age air cooled, carbureted v-twin, 300 lb bike, 125 lb rider.

That’s 2.5 l/100 km for you metric folks. Two cents per kilometre at current Ontario prices. I don’t think you can pedal a bike for that cheap, and if CE Fartz was doing the pedalling, it’d probably be worse for the environment too.

————————————-

I was conservatively ball-parking.

Also my 250 is a water cooled high compression job that probably can get 80+ mpg, but not if you are heavy on the throttle. And not with my arse in the saddle, that’s a lot of extra weight.

#160 Nonplused on 02.11.21 at 1:04 am

#113 Faron on 02.10.21 at 8:30 pm

“And even if the electric car is powered by electricity generated from coal, it’s still less emissive in total and more efficient than an ICE on a BTU by BTU basis.”

Nope not close. There is thermodynamics involved and you lose 50% of the BTU’s just turning the coal heat into steam. More losses arise in the turbines. The generator is pretty efficient but not 100%. Then transmission. Then charging the batteries which is only about 80% efficient.

There is a reason they don’t run trains on coal anymore, even though the last of the coal fired train engines were just as powerful as the current diesels are. Ships also do not use coal any more. And neither of these needs batteries.

Your envisioned all electric future is going to work out about as well as trying to mow 2 acres with a battery powered lawn mower.

#161 Where's My Money Going Greedeau? on 02.11.21 at 1:04 am

Re: #3 Dogman01 on 02.10.21 at 2:10 pm
https://www.tabletmag.com/sections/news/articles/the-thirty-tyrants
++++++++++++++++++++++
I thought Clinton was the one who sold out to the Chinese Triads, but after reading this, I see the sellout happened much earlier.
Canadian Maurice Strong, wanted carbon taxes back in the mid-70s (part of the Desmarais family conglomerate that runs Canada through Power Financial) and was in cahoots with the UN, ended up exiled in CHINA for fraud etc.
http://www.unitypublishing.com/Government/Maurice%20Strong.htm
https://quadrant.org.au/opinion/doomed-planet/2015/12/discovering-maurice-strong/

#162 Where's My Money Going Greedeau? on 02.11.21 at 1:25 am

Forgot to include info of Paul Desmarais family, including Power Corp company tree: https://archive.org/details/KINGDOMOFPAULDESMARAISPOWERCORPORATION1

#163 Dr V on 02.11.21 at 1:25 am

I find the discussion on the relative emissions of vehicles interesting

https://www.theguardian.com/environment/green-living-blog/2010/sep/23/carbon-footprint-new-car

“The upshot is that – despite common claims to
contrary – the embodied emissions of a car typically
rival the exhaust pipe emissions over its entire lifetime……..With this in mind, unless you do very high mileage or have a real gas-guzzler, it generally makes sense to keep your old car for as long as it is reliable – and to look after it carefully to extend its life as long as possible.”

Our vehicles are now 9 and 10 years old and were both bought used. The total mileage for both is about 25000km per year, and both are used for work as well.

I feel green.

#164 Dr V on 02.11.21 at 1:32 am

Yes! Just got an email saying our BC recovery $$ will show up in the next few days

No mention of the amount, but we calc’d it would be slightly below the max

I feel socialist!!

#165 jane24 on 02.11.21 at 2:02 am

Garth how are CBs going to control digital currencies? They talk like they still have control of the situation and actually they got left in the digital dust about 2 years ago.

Global companies such as Twitter and not the Bank of Canada control the situation and they can’t control Twitter because it is web and user based and in another country. The Bank of Canada needs to find some boffins that are under 30 in age and understand that they have to work with and not against web innovations. They sound ridiculous making these pronouncements from on high.

I am no fan of digital currencies as they are indeed Wild West but here in Britain the big London based financial companies are now saying put 2.5% of your portfolio in. This is big news. So I did.

#166 Diamond Dog on 02.11.21 at 3:20 am

Did you learn anything?

Yup. Sometimes puts do well :) I had to chuckle at the notion of billionaires getting their asses handed to them over Game stop myself. Sure, some traders got it wrong, (they should have paid attention to their strongest only profitable quarter Q4 the last 2 years as of late) its the way of the world but to think Game stop wasn’t going to come back to reality… they likely have 1 more profitable quarterly coming in March and that’s probably it for them although their stock’s lesson might last a while.

“Money is currency. Crypto is not. Nor gold. There is no fiat collapse coming in your lifetime or that of your grandchildren. But they will all need, and crave, money.” – Garth

You’ve had quite a streak of conclusions that I could not disagree with Garth, it goes back, but this is one of those rare occasions. No, I’m not talking about Crypto. The govy can at any time shut this experiment down. It’s being allowed to run its course I think, through what they have to teach us with behavior and in some ways, Crypto normalizes fiat currency going cashless. We are somewhat there now, but with cards. The age of QR payments is coming and with it I think, will come Crypto’s demise.

No Garth, what I disagree with is your assertion that fiat currencies will not collapse during the lives of our grandchildren. They all will. What would cause this? World wide crop failures. Degraded environments. This will be the observation from boots on the ground so to speak but in the heavens, an angel doth swing his sickle to the earth and gather the clusters from the vine of the earth, and throw them into the great wine press of the wrath of God. I must say, looking at the populations on the Earth and where it’s all heading, the grapes on the vine are beginning to look rather plump:

https://www.biblegateway.com/passage/?search=Revelation+14&version=NASB1995

On that note, so much confusion with the 144,000 and the beast (excuse me, world economy, not to be worshipped no. It’s not money that is evil but the love of money that marks the chakras on our forehead and right hand). 10x10x10x12x12 = 144,000. This number is not a count, but a definition. The mind, soul and body of God within the 12 tribes of Israel and their 12 signs. God’s unsullied children followers of Christ, purchased from the Earth and the holy ones will guide them.

What does this have to do with today’s post? Right, we are talking about currencies of which, why not try gold tried by fire (truth)?

https://www.biblegateway.com/passage/?search=Revelation+3%3A18&version=NASB1995

For fiat currencies are like brands. They too, will come and go but “man cannot live on bread alone (bread defined as being one with God’s will) but on every word that proceeds out of the mouth of God.” (Matthew 4:4)

#167 willworkforpickles on 02.11.21 at 4:36 am

I posted a penny stock on here with great quarterly earnings (plus details) a couple months back (a very good prospect i have watched for nearly 2 years) to disdain and contempt by some for doing so.
Zero interest no doubt…2 months back i posted a strong buy for it at 0.30 cents CAD…It just hit 0.96 cents and keeps climbing.
I bought 500,000 shares of it at 0.16 cents just over 10 months ago (others here could have too)
I (accumulate) make $5000.00 per up-tick.

…pennies… obviously beneath the highly affluent upscale types who frequent this site.

When i am worth hundreds of millions of dollars maybe then i will buy a half million shares of a blue chip co.

Now I’m going to toss my rose colored glasses into the street and stick with the rare penny earners.

#168 Howard on 02.11.21 at 6:51 am

#60 IHCTD9 on 02.10.21 at 5:31 pm
#53 Howard on 02.10.21 at 4:57 pm
Salesforce, San Francisco’s bigger employer, just announced that around 65% of its staff worldwide will transition to a hybrid arrangement (1-3 days in office) permanently. A smaller tranche of staff will be fully remote. The smallest tranche will be fully on site, due to the nature of the work involved.

Salesforce Prez says : “We’re not going back to the way things were.”

The president himself no longer lives in the Bay Area.
—— —

No one wants to live in California anymore. They’re all moving to (God bless…) Texas!

—————————–

Yes, in the article I linked it lists a myriad of firms that have recently fled California for Texas. It seems to be snowballing.

Texas really seems like a great place if you want to work hard and build a business or climb the corporate ladder. Low cost of living. Nice weather aside from mid-summer. No state income tax, but high property tax. That’s how it should be : reward WORK rather than speculation (Canada, of course, does the opposite). And with all these large corporations moving in, tons of opportunity for skilled workers.

#169 Rossco on 02.11.21 at 7:07 am

CAUTION; You are being conditioned to believe that FREEDOM is Selfish and Dangerous.
Thanks for the Liberty Coalition link #56 of which I signed up on the petition to End The Lockdown.
I am more ideologically aligned with Bernier, Sloan, Hillier and Gordon Kesler than Gates, Soros, Schwab, Fauci, Trudeau, Tam, Hinshaw.
Was going to tell a Covid-19 joke but 98.72 % won’t get it anyhow.
The Edmonton Oilers will not be changing their name to the Edmonton Solar Panels after the week we are having out west. Brrrrrrr.

#170 Gramps on 02.11.21 at 7:43 am

You can “fill the tank” on a Tesla for under $20
Operating the brakes charges the battery
On a gas car, brakes create only friction/heat.
While they do have disadvantages, Tesla’s are “green”
Try running a gas generator to power your house. Even a nat gas powered genset creates a lot of wasted heat.
And with the huge battery parks being built, solar and wind power will have a place to dump excess power when it’s not needed.
Government goosed green- GGG – is here to stay.

#171 AK on 02.11.21 at 7:50 am

Look at this recent real estate transaction in Toronto. Would love to see a post with your thoughts on this:

https://www.reddit.com/r/TorontoRealEstate/comments/lgvhue/yongewellesley_710_sq_ft_1m_sold_5_days_ago/?utm_medium=android_app&utm_source=share

#172 crowdedelevatorfartz on 02.11.21 at 8:16 am

@#167 pickles
“It just hit 0.96 cents and keeps climbing.
I bought 500,000 shares of it at 0.16 cents just over 10 months ago”

+++++

VSE mining stock?
Have you sold any yet to realize the gains?

#173 Marci Polo on 02.11.21 at 8:18 am

DELETED

#174 crowdedelevatorfartz on 02.11.21 at 8:20 am

@#164 Dr. V
“Just got an email saying our BC recovery $$ will show up in the next few days…”

++++

A disgusting expenditure by the BC NDP to buy longterm voters.
A lesson they have learned from the federal Liberals.
Spend and tax spend and tax.

#175 millmech on 02.11.21 at 8:27 am

#167
GDNP.V got in at .15, and still holding 100,000 shares

#176 IHCTD9 on 02.11.21 at 8:45 am

#159 Nonplused on 02.11.21 at 12:52 am
#114 IHCTD9 on 02.10.21 at 8:33 pm
#94 Nonplused on 02.10.21 at 7:37 pm.

A 250cc motorcycle can get up to 80 mpg on asphalt…

— –

Ms. IH has a 250 Virago. Best tank so far is 94 mpg. It’s always north of 85 mpg. This, from a Stone Age air cooled, carbureted v-twin, 300 lb bike, 125 lb rider.

That’s 2.5 l/100 km for you metric folks. Two cents per kilometre at current Ontario prices. I don’t think you can pedal a bike for that cheap, and if CE Fartz was doing the pedalling, it’d probably be worse for the environment too.

————————————-

I was conservatively ball-parking.

Also my 250 is a water cooled high compression job that probably can get 80+ mpg, but not if you are heavy on the throttle. And not with my arse in the saddle, that’s a lot of extra weight.
___

I guessed 70-80 mpg before we kept track of a few tanks. I was shocked at how high the mileage could get.

But yes, small light Woman on a small light bike doing 60 km/hr on paved roads on nice summer days. Gear on gear trans, chain final drive.

Compare that to my Grizzly 700 which gets worse mileage than our Mazda 3.

#177 Farmall Super C on 02.11.21 at 8:46 am

Spot-on TurnerNation!

#178 willworkforpickles on 02.11.21 at 8:54 am

Too much attention on crypto here the last while and nobody except myself has even mentioned the tear weed stocks have been on.
Aside from the company i have been posting here about off and on over the past year, I purchased 100000 shares of Medmen Enterprises at 0.35 cents CAD one week ago and it now sits at 1.65 (another penny earner)
I was going to post here the evening of Feb.3 (8 days ago) to jump in on that one but felt it would go over like a lead balloon so didn’t bother…not the forum for penny stock picks some say.
1 of a thousand penny stocks (top earners) are the only ones i ever touch…as I’ve said all along.

#179 alexinvestor on 02.11.21 at 8:57 am

And what, pray tell, can you buy with a piece of gold? Gas? Groceries? Ammo? – Garth

Presumably I would be able to convert that piece of gold to G/G/A. That can be done today even in screwed up countries like Venezuela. The question is, 15 years from now, would I be able to buy the same amount of G/G/A as today if I put the money into Canadian government bonds. If it’s 50% less G/G/A, that’s going to be a problem everywhere. Stocks are great, but I wonder if the government is looking at all these stock gains make up the missing revenue. Real estate, well, is another topic.

#180 Stone on 02.11.21 at 9:00 am

#149 re., Stone on 02.10.21 at 11:41 pm
you dont have to tell anonymous people your ytd returns, bro. I’ll be grossly candid– nobody cares

———

That’s amazing. I don’t care about what you have to say either. How coincidental.

Piece of advice, just keep scrolling. Hug! Namaste.

#181 Phylis on 02.11.21 at 9:08 am

#158 NSNG on 02.11.21 at 12:44 am Your observations are good, but I would contend that it is better suited as a block chain solution rather than a bit coin application. Why would you participate in a value store where the value is determine by speculators?

#182 Captain Uppa on 02.11.21 at 9:15 am

These comments directly from MasterCard:

“Whatever your opinions on cryptocurrencies — from a dyed-in-wool fanatic to utter skeptic — the fact remains that these digital assets are becoming a more important part of the payments world.”

“ We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work. We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protections and compliance.”

Link: https://www.mastercard.com/news/perspectives/2021/why-mastercard-is-bringing-crypto-onto-our-network/

#183 willworkforpickles on 02.11.21 at 10:09 am

Real Estate is taking a back seat to stock market hype of late…not just here but out in the real world all over.
The stock market has moved into the spotlight front line and center among the masses…far too many astounding opportunities materializing to be too greatly focused on the overinflated gas-bag RE market at the moment.
A kind of breather the RE market sorely needed anyway.
FOMO is revving up in stocks as everybody and his and her brother/sister mother/father son/daughter pet dog and cat wants in.
The sun is shining brightly now on experienced traders.

#184 willworkforpickles on 02.11.21 at 10:23 am

#172 crowded

No to VSE
No i haven’t sold yet (i hope i don’t screw up)
That pick I’ve been on about…mentioned it a few times here in the last ten months.
I think i will let interested persons here dig for it…its in the archives.
Its a high earnings penny winner.

#185 Penny Henny on 02.11.21 at 10:25 am

#101 Sheesh on 02.10.21 at 7:52 pm
#41 Penny Henny on 02.10.21 at 4:33 pm
In most municipalities your assumption would be wrong.
….
Please enlighten me.
////////////

Although many municipalities have already moved to automated pick up (garbage is not manually transferred into the truck) those who haven’t have two different pay grades for those who drive the truck (licensed) and those who sling the garbage.
So one drives and one slings.

#186 Diamond Dog on 02.11.21 at 10:27 am

#166 Diamond Dog on 02.11.21 at 3:20 am

On sober second thought (early morning comment, please forgive) don’t want to give a false impression here, I was speaking to Garth, who likely won’t see the end of fiat currencies in his lifetime but the majority of of us readers are younger and many will most likely see the end of fiat currencies as we know them in our lifetimes. As such, some may not have the potential to even have grandchildren. (this plus 144,000 is 12 tribes x 12 signs x 10x10x10 mind soul body, had it reversed dare I nitpick myself, describes the definition of God’s children, specifically unsullied “faithful” followers of Christ. No lies come from their mouths, they are blameless, should mention that too)

I believe climate change is, unfortunately, a much greater threat and much nearer to us than most realize. There are 2 charts that interest me most as to how near climate change is from impacting everyone’s lives in the future, this one from Sept 15th 2014:

https://www7320.nrlssc.navy.mil/GLBhycomcice1-12/navo/arcticictn/nowcast/2014/ictn2014091512_2014091600_563_arcticictn.001.gif

And Sept 15th of 2020 to compare:

https://www7320.nrlssc.navy.mil/GLBhycomcice1-12/navo/arcticictn/nowcast/ictn2020091512_2020091600_930_arcticictn.001.gif

I’ll give Arctic ice til’ 2023 and then she’s gone. Another El Nino timed near the opposite end of a grand solar maximum (we are at the minimum, its something like a half a percentage point of difference in light between min/max) is all it takes or it disappears regardless, there’s not much ice volume left as the link above reveals. What follows is lengthening stretches of open water as freeze up becomes more delayed with heat coming out of the ocean (like late 2020) and melts coming on sooner as winter ice gets thinner, stretching periods of open water longer and longer with each passing year.

By 2025, the weather changes significantly as the Northern hemisphere becomes much warmer without the stabilizing effects of ice over the Arctic cooling the atmosphere during summer. If 2019 Arctic Buoy’s tripping 10C during summer 100 km’s off the coast of Alaska are any indication, we might see 10 degree overall average Arctic ocean highs by 2025 and atmospheric temps bump up by 10 degrees over the Arctic and potentially with it, 5 to 10 degrees warmer over the entire Northern hemisphere during summer. This spells doom to our forests from wild fires and it only gets hotter from there.

By 2025 and beyond, I predict there will be few deniers of climate change. Its kind of like predicting Trump’s future on the day of the capitol hill riot. Trump’s future is the future of Joe McCarthy and upon greater reflection the future of all demagogues, although Trump’s true believers and all other believers of demagogues wouldn’t know it then. It takes time for reality to sink in but by then, well, we can’t take back all the support we gave to these demagogues, now can we. Same is the path of the climate change denier:

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

How do we fix this? If climate changes too quickly, we can’t. We can only acknowledge this truth, that life is not a zero sum game. The result, while important, is not as important as the motive and intensity of effort to succeed. Always. We live up to our potential as best we can, given the circumstances we’ve been given and if we are wise, buy from God gold that has been tried by fire and as stewards on this journey invest it well.

#187 willworkforpickles on 02.11.21 at 10:27 am

“(i hope i don’t screw up)’
I won’t…I have level 2.

#188 The Totally Unbiased, Highly Intelligent, Rational Observer on 02.11.21 at 10:53 am

There are about 164 fiat currencies. The number of different fiat currencies seems to be roughly limited by the number of national governments. Each national government can make up and print endless amounts of its own fiat currency. For examples, see Zimbabwean toilet paper, Canadian paper dollar, et cetera.

There are already about 6,250 cryptocurrencies that were made up out of nothing to try to scam people out of their hard-earned fiat currencies. Every pimple-faced, pornography-addicted, computer geek can make up any number of his own cryptocurrencies, and each cryptocurrency can have any number of so-called “coins.”

#189 Millennial 1%er on 02.11.21 at 11:00 am

> The counter-argument is that governments, politicians and central banks will allow a private, unregulated alternative currency to become mainstream just as soon as Doug Ford starts doing Pilates. So, fuggedaboutit.

> It’s only a matter of time before CBs squish crypto – at least as it is currently traded.

I understand your sentiment. Normals shouldn’t be buying crypto because they don’t understand how it works. Chances are, if you don’t run linux you probably don’t want to use crypto. People FOMOing in are going to lose all their money.

However, my dear free personal finance blog writer, do you really think that (true) crypto enthusiasts don’t know about the upcoming ban? In fact, the governments banning cryptocurrencies will be proof of their success. For me, the point of crypto is to stick it to the banks in control. Sure it will crash in the short term, but whatever. The upcoming fed ban is going to be the same as the last two crashes. I’ve been part of this rodeo since I was a 1st year undergrad seeing people using it to buy LSD online.

They banned bitcoin in Nigeria, how’s that working out for Nigeria? Well, it’s not working. https://www.coindesk.com/bitcoin-cant-be-stopped-nigerians-look-to-p2p-exchanges-after-crypto-ban

Skilled computer practitioners will find a way. It’s tech. It replicates, spreads and evolves. These practitioners are also people with skin in the game.

And before you tell me Canada’s government is more powerful than Nigeria, you forget one simple thing. Crypto is basically mathematics. The information is out there. You can’t ban cryptography. You can’t ban math. The same way I can use PGP to send you a message that CSIS can’t see, people will be able to build decentralized peer to peer exchanges that can run in a free network. Just because coinbase will be axed; I will still be able to find frat boys that with paper money that the feds love to print.

The only way to stop crypto is to kill all the cryptographers of the world.

#190 crowdedelevatorfartz on 02.11.21 at 11:07 am

@#186 pickles

Time to reap some gains brudda.
sell half and pocket 240k.

#191 Bill on 02.11.21 at 11:09 am

#154 Comment on Electric Cars on 02.11.21 at 12:04 am

They are here to stay but no doubt way less practical in some parts then others.
I tell people their akin to the evolution in cell phones.
I started building networks when the Motorola 9000 appeard.
The evolution will continue at a rapid pace.
We still need Mega oil and gas to produce them.
On my 3rd and 7 years…little to no maintenance is the key for me.
I have enough equipment to change oil in and maintain.

#192 KLNR on 02.11.21 at 11:12 am

@#160 Nonplused on 02.11.21 at 1:04 am
#113 Faron on 02.10.21 at 8:30 pm

“And even if the electric car is powered by electricity generated from coal, it’s still less emissive in total and more efficient than an ICE on a BTU by BTU basis.”

Nope not close. There is thermodynamics involved and you lose 50% of the BTU’s just turning the coal heat into steam. More losses arise in the turbines. The generator is pretty efficient but not 100%. Then transmission. Then charging the batteries which is only about 80% efficient.

There is a reason they don’t run trains on coal anymore, even though the last of the coal fired train engines were just as powerful as the current diesels are. Ships also do not use coal any more. And neither of these needs batteries.

Your envisioned all electric future is going to work out about as well as trying to mow 2 acres with a battery powered lawn mower.

may not be an all electric future but probably mostly electric. for what its worth I mow my one acre on 2 ryobi batteries.

#193 Sail Away on 02.11.21 at 11:15 am

Re: VSE

This can be lucrative but can also be a minefield. If the regular markets are full of sharks, the VSE is full of hagfish trying to cannnibalize each other.

Most companies here don’t meet most of Graham’s rules, but every rule was made to be broken. I currently hold one .V and track a half dozen.

My take? I haven’t been willing to outlay enough here to move the needle. Even if one venture stock does 300-500%, the overall portfolio percentage is almost irrelevant. And it takes a lot of due diligence effort. Enjoy the journey!

#194 willworkforpickles on 02.11.21 at 11:23 am

Pullback…weed stocks.
Taking a little breather now…so wait, hold off on buying in right now…let the shorts do their thing…wait for a good entry point…cuz dis chit’s gonna move.

#195 NSNG on 02.11.21 at 11:26 am

#181 Phylis on 02.11.21 at 9:08 am

The value is determined by speculators and early adopters, for now, but that is always the case for new products/technology.

As the law of large numbers kicks in for BTC, the price will stabilize. It will also become more commoditized as it grows in popularity and thus the price speculations will be squeezed out.

Also, even with the value fluctuating heavily there is still an incentive for businesses to take the risk because the price trend should always be up as the network and use grows. Since central banks can’t produce BTC, they will always be relatively scarce because they are being measured in fiat currencies which are being diluted constantly.

Just like when the price of everything else rises that governments can’t game with paper markets, so will BTC.

#196 Dr V on 02.11.21 at 11:39 am

174 Fartz – yes to all that!

So if we look at it as simply more tax, I will consider it a “tax refund” where the game is to reduce my taxable income. We will be moving towards a “no net tax” position as we transition to retirement.

#197 Damifino on 02.11.21 at 11:41 am

#170 Gramps

While they do have disadvantages, Tesla’s are “green”

Nonsense. Teslas are anything but green. They are remote combustion vehicles. The burning of hydrocarbons that power the vast majority of the electrical grid takes place in a distant locales. That allows Tesla owners to fool themselves into believe they are carbon free.
——————————

And with the huge battery parks being built, solar and wind power will have a place to dump excess power when it’s not needed.

So far, the “huge battery parks” have been an immense failure. There’s nothing in their design indicating they’ll come anywhere near the energy storage present in oil. As for solar and wind, let’s call them what they are: Unreliable.
—————————–

Government goosed green- GGG – is here to stay.

You are almost correct. GGG is here, but not to stay. It will last until the criminalization of nuclear power is rescinded or until the western nations realize they’ve choked off the main source of dense industrial heat that underpins their very existence. Here are the governments that will not be goosing green:

Russia
China
India

There’s a lot more of them than us, and they simply aren’t that stupid. They know that most wealth comes from within the earth, not from a thin scraping of the surface. It’s been tried and it doesn’t work well.

#198 Dr V on 02.11.21 at 11:51 am

Apologies for the rather old (2010) link in my post at 163. Here is a newer one (2019)

https://www.carbonbrief.org/factcheck-how-electric-vehicles-help-to-tackle-climate-change

This study notes the difficulties in comparisons due to the many factors that should be included. Source of
electricity is still a big one.

“These include which specific vehicles are being compared, what electricity grid mix is assumed, if marginal or average electricity emissions are used, what driving patterns are assumed, and even the weather.”

I’ll see if I can find an estimate for the emissions for
the Site C dam in BC. I recall hearing that it would take 15 site Cs to provide the power to charge all vehicles in BC if they were electric.

#199 Barb on 02.11.21 at 11:51 am

#106 Sail Away

You had me at “long-unused muscles”.
Fade to black.

#200 SOMETHINGS UP!! on 02.11.21 at 11:55 am

Adoption on the rise from the BIG BOYZ.

https://ca.finance.yahoo.com/news/bitcoin-hits-record-mastercard-bny-141004267.html

#201 Regjeg on 02.11.21 at 12:03 pm

The word from Rosie: We’re good ‘til July!

#202 Wrk.dover on 02.11.21 at 12:17 pm

#102 IHCTD9 on 02.10.21 at 7:52 pm
#84 S.Bby on 02.10.21 at 7:12 pm
Random length lumber futures for March now $951/MFBM.

Will we hit $1000 ?
———

Got a quote on some 10”x10”x.500” HSS A500C last week. 6000 lbs, $190.00 C#. That’s a King sized LOL! 304 stainless steel costs that much. Yeah, that project ain’t moving ahead.

Wood is bad, but I think carbon steel is even worse right now.

———————————–

Just a typical day at the office in the mid 70’s

#203 Penny Henny on 02.11.21 at 12:20 pm

#172 crowdedelevatorfartz on 02.11.21 at 8:16 am
@#167 pickles
“It just hit 0.96 cents and keeps climbing.
I bought 500,000 shares of it at 0.16 cents just over 10 months ago”

+++++

VSE mining stock?
Have you sold any yet to realize the gains?

///////////////

Do you realize it’s a made up story

#204 KLNR on 02.11.21 at 12:22 pm

@#196 Damifino on 02.11.21 at 11:41 am
#170 Gramps

While they do have disadvantages, Tesla’s are “green”

Nonsense. Teslas are anything but green. They are remote combustion vehicles. The burning of hydrocarbons that power the vast majority of the electrical grid takes place in a distant locales. That allows Tesla owners to fool themselves into believe they are carbon free.
——————————

And with the huge battery parks being built, solar and wind power will have a place to dump excess power when it’s not needed.

So far, the “huge battery parks” have been an immense failure. There’s nothing in their design indicating they’ll come anywhere near the energy storage present in oil. As for solar and wind, let’s call them what they are: Unreliable.
—————————–

Government goosed green- GGG – is here to stay.

You are almost correct. GGG is here, but not to stay. It will last until the criminalization of nuclear power is rescinded or until the western nations realize they’ve choked off the main source of dense industrial heat that underpins their very existence. Here are the governments that will not be goosing green:

Russia
China
India

There’s a lot more of them than us, and they simply aren’t that stupid. They know that most wealth comes from within the earth, not from a thin scraping of the surface. It’s been tried and it doesn’t work well.

some serious myopia on your part

#205 Yuus bin Haad on 02.11.21 at 12:35 pm

yes kids, and don’t forget to wear your mittens – it’s cold outside

#206 Dr V on 02.11.21 at 12:41 pm

Dammit

https://www.ecowatch.com/dams-cause-climate-change-they-are-not-clean-energy-1881943019.html

#207 Phylis on 02.11.21 at 12:45 pm

#195 NSNG on 02.11.21 at 11:26 am Fair enough. Once the volatility stops and it starts tracking around some measure of inflation across all fiat, all will be good. I would imagine that would be more than a year. It will be interesting how see how the arbitrators will work with commodity vs fx activities.

#208 SoggyShorts on 02.11.21 at 12:47 pm

#135 AM in MN on 02.10.21 at 10:08 pm
Tried to post this a couple of days ago, it didn’t go through, so I’ll try again.

I have yet to see a post against Bitcoin from anyone who understands how it works.

******************************
There are plenty of people against bitcoin who know how it works, what you’re missing is how people and governments work.
1. Bitcoin isn’t inherently better than ETH/Lite/Doge, or really any of the other 6,000+ cryptos, and that’s worrying.
2. Governments tend to regulate things and at any time a major one like the US or even the EU could put in some harsh laws that wouldn’t remove BTC utility, but combined with the media would crash prices and late investors would get burned.
3. The “it consumes 100x more electric power than the worldwide visa network” that you boast of is a bad thing. Someday the greenies are coming for it.
++++++++++++++++++++++++++++++++++++++++++++++
#188 Millennial 1%er on 02.11.21 at 11:00 am

> It’s only a matter of time before CBs squish crypto – at least as it is currently traded.

I understand your sentiment. Normals shouldn’t be buying crypto because they don’t understand how it works. Chances are, if you don’t run linux you probably don’t want to use crypto. People FOMOing in are going to lose all their money.

However… Skilled computer practitioners will find a way. It’s tech. It replicates, spreads and evolves… The information is out there. You can’t ban cryptography. You can’t ban math… people will be able to build decentralized peer to peer exchanges that can run in a free network. Just because coinbase will be axed; I will still be able to find frat boys that with paper money that the feds love to print.

The only way to stop crypto is to kill all the cryptographers of the world.

Just like we don’t need a realestate “crash” to ruin someone’s financial future, we don’t need a 100% ban on Bitcoin to crash it either, and that is what makes it a risky investment, not lack of understanding how the tech works.

#209 Faron on 02.11.21 at 12:58 pm

#160 Nonplused on 02.11.21 at 1:04 am
#197 Dr V on 02.11.21 at 11:51 am
#196 Damifino on 02.11.21 at 11:41 am

You are simply wrong. Educate yourself.

https://www.forbes.com/sites/enriquedans/2018/08/19/myths-and-shibboleths-about-electric-vehicles-the-long-tailpipe-theory/?sh=446d4f247f26

https://medium.com/@rossrosenberg/the-long-tailpipe-theory-of-evs-8b4487cf3cfc

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

This is not unlike arguing the US election issue with you (Nonplused). When someone disclaims facts, or refuses to take as fact true information, it’s impossible to have a discussion. It sounds harsh to call someone “wrong” but it’s actually better than the possibility that you are lying. It’s okay to be incorrect and make mistakes, desirable actually, but doing so after being repeatedly corrected transitions to something more insidious.

#210 Faron on 02.11.21 at 1:10 pm

#144 Bill on 02.10.21 at 11:23 pm
#151 Bill on 02.10.21 at 11:51 pm

#24 Faron on 02.10.21 at 3:34 pm

If you are truly interested, I would be happy to do the analysis for you regarding cold snaps where you live. Without doing it specifically for your area, I can already tell you, based on what I know about the historical climate of BC, that they are becoming less frequent and less severe. Despite that, it’s not impossible for new record low daily temperatures to be set this year and for years/decades hence. It is just becoming less and less likely with time.

Regarding other aspects of climate change. The press does scientists like me and many others no favours when if over-hypes things. It makes us cringe. But, they also do it to raise awareness and highlighting things like corals or the garbage patch (not a climate change issue) they at least get the average Joe to pay attention and that is needed to effect change.

However, there are still major impacts on the planet that are happening including coral bleaching. More important ones are changes in precipitation patterns and intensities that will effect food production and sea level rise. These two effects will force mass migrations which will start wars. The war in Syria is thought to be an early example of this. Even if Canada benefits through increased habitable land, the social effects coming from international strife will make things much less comfortable.

#211 Dr V on 02.11.21 at 1:24 pm

209 faron – I have not taken a for or against position – you have. EVs are not a complete cure. It is a matter of degree, which is difficult to measure. Apparently, a fossil fuel sipper in germany is no worse than a tesla.

Overall, it’s a matter of energy, and many of us are gluttons. Canada has a bad start position due to cold climate and vast distances requiring both lots of transportation and expensive infrastructure.

#212 Stoph on 02.11.21 at 1:26 pm

To all the EV naysayers on this blog, what’s your proposed solution to reduce CO2 from cars?

Or is CO2 emission not a problem because you don’t think it’s a significant contributor to climate change? Or is it not a problem that should be addressed because not all countries are on board?

EV’s offer a pathway for removing CO2 emissions from the use of cars as the tech of emission-free electricity generation (renewables, carbon-capture, nuclear) gets developed and adopted. If society waits to pursue EV tech before emission-free generation is in place, we’ll be that much further behind in rolling out EVs.

#213 willworkforpickles on 02.11.21 at 1:27 pm

203 Penny Henny

“Do you realize it’s a made up story”
………………………………………………………………………………………………………

I have been posting the stock in question periodically for over 10 months now…nothing i post here is made up.

#214 NSNG on 02.11.21 at 1:37 pm

#207 Phylis on 02.11.21 at 12:45 pm

#195 NSNG on 02.11.21 at 11:26 am Fair enough. Once the volatility stops and it starts tracking around some measure of inflation across all fiat, all will be good. I would imagine that would be more than a year. It will be interesting how see how the arbitrators will work with commodity vs fx activities.

Yes, it will probably be a while. If anyone is going to jump into something like this no matter the speculative play, I always tell them never put more than 5% of your money in it. That way, if you do get burned, you can make it back relatively quick yet you also get your hair singed enough to make you think twice the next time.

There is an old saying: Buy when the stock is on page 16. Sell when it reaches page 1. We are closer to page 1 than 16 with crypto.

#215 Dr V on 02.11.21 at 1:42 pm

212 stoph – drive less. Works with all types of vehicles

#216 willworkforpickles on 02.11.21 at 1:56 pm

PH
…so to get technical with exact figures, i got a partial fill of 290,000 shares at 0.16 cents third week of March 2020.
The stock bottomed at 0.155 cents…had an order in at 0.10 cents and cancelled…picked up the rest of the order for a bit higher for an 0.18 cent average…500,000 shares.
Been in and out of the stock quarterly for a full year prior to March 2020.
My problem in 2020 was in pulling the sell button 10 days prior to financial releases as its history shows its quarterly peaks.
Didn’t sell any yesterday when it peaked at 0.96 cents either…was away from my computer all day then too.
Now it sits, pulled back at 0.84 cents.
Nobody’s perfect.

#217 Bdwy on 02.11.21 at 2:11 pm

Look you ALL need to cut back on energy consumption, esp carbon based ones., esp mr faron. The 2 big diesels in a 58 foot boat are VERY thirsty. A few years in the carribean and Mediterranean will require a few tanker trucks worth.

So please conserve every bit you can. Thx.

#218 Tom Jones on 02.11.21 at 6:52 pm

Garth, you’re sadly mistaken here. I can confidently say that BTC will be higher one-year from now.

Follow the money. Institutional investors are coming in waves, and as someone plugged into the private wealth circles, HNW individuals and family offices are seeking exposure to it. You’ll also see Fortune 500 companies continue to allocate a portion of their balance-sheets to it.

Disappointed you haven’t taken a more unbiased view here.

#219 Steve on 02.12.21 at 5:00 am

“. As the vaccines eventually defeat the virus”

The covid vaccines are not vaccines as defined by law or science. They are gene altering drugs. In this racket, you will need to have a new injection weekly just to go down the street. And you still must wear 3 or 4 masks!

If pcr tests work, why all the false positives?
If 6 feet works, why the masks?
If masks work, why the 6 feet?
If masks and 6ft work, why the lockdown?
If 99.5% of people with covid recover why the shutdowns, restrictions?
If the restrictions and shutdowns work, why vaccines?
If the vaccine works, why more than one? Why the masks and the 6 feet distance after vaccine?

If you haven’t noticed, Canada now has less liberty than the 20th century communist countries had. Pathetic modernity.

#220 Prince Polo on 02.12.21 at 7:07 am

#219 Steve on 02.12.21 at 5:00 am
If you haven’t noticed, Canada now has less liberty than the 20th century communist countries had. Pathetic modernity.

And yet, you won’t be shipped to a frozen internment camp or mysteriously killed for posting something negative about the country. Imagine that! I guess there is less liberty than 20th century communist countries. *rolls eyes at the drama kinging that is on display*

#221 Love_The_Cottage on 02.12.21 at 10:27 am

The WFH thing makes folks believe they can buy in the outer burbs, securing more space, because they’ll never have to trundle downtown again.
________
As some of us have pointed out to you Garth, the trend of remote work has coming for years, it’s only increased because of the current situation. In addition Mississauga has more people working in the city than live in the city. Return to the office for some in large organizations will include return to ANY office. Drive along the 401 near Mississauga Road and check out the number of large office buildings including RBC.

Lots of people will return to the city? Of course they will, yes. As large a percentage as before? Nope.