uchiha101

1 hour ago, Wall-Crawler said:

Is this a virtual card you can pre-load yourself with funds you already have or a credit card with an interest rate attached to it and you are buying things "on credit"? If so, what is the interest rate?

Remember that definition of insanity we talked about, doing the same thing over and over?

Remember what I've also said about not assuming things? The virtual visa debit card is connecting to my bank account, has no annual fee, and acts as a visa of sorts. I am only allowed to make purchases based on how much I have in my account at the time.

1 hour ago, Wall-Crawler said:

Again, for how much you are really buying/selling, eBay completed sales search should really suffice...  

Who are you contacting? Sounds like you can't really afford to buy graded books - What do you mean by "purchase enough comic books to justify the cost?"  For example, over the last three months, how much have you purchased, quantity and say rough dollar figure spent?

 

I tried using free websites to keep track of things like this and ebay only retains sold info for a certain amount of time so I prefer gpa. Well, I contact people with whatever comic I want to either buy or consign. The dollar amount I've spent in three months would be around $200 USD which I know doesn't sound like a lot but I prefer GPA for this and if I didn't need it I wouldn't be paying for it.

16 minutes ago, jaybuck43 said:

Can any of you canuckleheads explain to me how someone on government assistance is getting an income tax refund?  Like, is Trudeau just wondering around on Mooseback handing out poutine and tax refunds?  In the Great 48 (+2) you have to, you know, pay taxes to get an income tax refund.  I'm just an unfrozen caveman NYC lawyer, but my understanding is you guys don't tax assistance payments.  So.... what are you paying into the system in taxes to generate a refund?

Making assumptions like that is dangerous. The reason why I'm getting a tax refund is that before I was on social assistance I worked for myself for ten months buying and selling comic books and videos games. Before that, I worked at Subway and Kelsey's. 

1 hour ago, mattn792 said:

Well if you’re overall at a loss, you really haven’t profited.

Ah, so I did understand you correctly. I see now. 

Update

I have gotten approved for a virtual visa debit card which will benefit me greatly

I have checked my credit score and it's 591

5 minutes ago, mattn792 said:

In the same vein, he just lost $700 worth of stuff in that construction mishap.  Where does that leave his overall balance sheet I wonder.

Well since it was video games and toys that took the hit my balance sheet for both those looks terrible now. Thankfully, my comic books were downstairs in my room because it's where I felt they were safest. 

Video Games

Loss $301.72 USD

Inventory $40-100

Thrift shop purchases

Loss $400 USD

Inventory

16 minutes ago, mattn792 said:

I’m just failing to see where these activities are generating any profits.

I don't understand why you're failing to see profits, is it because of what the poster above you said he assumed or that even though I sold for a profit but overall I'm at a loss you don't count it as a profit? Is that what you're getting at?

24 minutes ago, miraclemet said:

I assume it meant the money he got from government assistance did not go into comic books, video games or bitcoin. 

I assume it meant that them money he put into comic books, video games and bitcoin came from "profits" made on flipping comic books and video games 

I dont know where the credit card debt fits in (were comic book, video game or bitcoin purchases made using credit card?)

The money I earned originates from the stuff I sell and the other part comes from my income tax refund. From there I use that money for either buying things or have enough for shipping

57 minutes ago, mattn792 said:

Before multiple streams of expletives start flying around, please define "the money I earned" and where exactly it is originating from.  

The money I earned originates from the stuff I sell and the other part comes from my income tax refund. From there I use that money for either buying things or have enough for shipping

44 minutes ago, Batman1fan said:

Here's a question for you, Gabe.  You've been flipping comics for what, 4 years now, or around the time you started your initial journal.  Are you saying it never crossed your mind, in 4 years, to ask your LCS what their slow months are?  For the sake of any new readers who may not have followed your initial thread, could you please explain how you can justify not having a real job, collecting social assistance/welfare and at the same time spending ANYTHING on comic books, video games or ANY kind of "investment", while the taxpayers of Canada foot the bill for your living expenses?

I have asked in the past what the LCS's slow months are just that I forgot what they've told me. Social assistance is welfare and as for why I justify buying stuff while being on it is simply because the money I invest is the money I earned so I can do as I like with it. I've already explained the plans I have for this year so if you've forgotten just go back a few pages and read it.

4 hours ago, Wall-Crawler said:

Questions:

If you are not *really* buying or selling graded books, how is GPA helpful to you right now? With your volume of sales could you not "get by" with a completed eBay sales? Save yourself the $10.95 USD per month?

How do you not know how much you paid for the Detective Comics Lot? What do you mean by Paid:

Sorry to hear about your inventory loss, every sellers nightmare, but I have to ask...How did it get ruined exactly and have you talked reimbursement from the renovation contractor?Finally, what were you doing "sitting" on that much inventory? Or was it all listed on eBay an other selling venues?

Well, you're correct in assuming that I don't "really" buy or sell graded book but I contact enough people and purchase enough comic books to justify the cost of $10.95 USD per month. It's also to keep track of how much I should and shouldn't offer someone for a certain comic.

Oh, I know how much I paid for the detective comics lot it's just that I've been told a few times I shouldn't say how much I buy it for before I sell the actual comics themselves. By paid I mean how much the comic book cost me.

Well being that my parents are my landlords and the contractors I can't do anything about it. I already know that if I had said something about it I would have been kicked out of the house for doing so. My dad mocked and laughed at me for all this stuff getting destroyed. 

How the stuff got ruined is simple. The renovations were happening and all the drywall dust went inside my electronics and toys that I had for resale. I have told my parents multiple times to not touch my stuff or go near it, my shelf was even moved far away from everything and had a protective covering which they took off. I wouldn't say I was sitting on the inventory because I was listing the things that would sell the quickest and thankfully I sold some of my most expensive stuff before it got destroyed. Yes, I use multiple venues to sell and cross-post with, eBay, FB marketplace, FB groups, Letgo, and Kijiji.

My dad openly mocked and laughed at me and these were his exact words to me "How much did you lose and spend on this again? 3000?, 2000? 1000?" "Oh well, it's not like it was selling anyway" I had to really bite my tongue after that because not only was that insult to injury but it was also ignorance on his part as well.

4 minutes ago, Iceman399 said:

I love this statement  

Why thank you.

1 minute ago, mattn792 said:

It’ll have the exact same intrinsic value as BitCon 

I doubt that one. In all seriousness if you make a coin I would check it out

2 minutes ago, mattn792 said:

Well if I ever introduce MattCoin, you’ll be the first guy I call 

Haha can't wait to see the specs and roadmap

2 minutes ago, mattn792 said:

That's too funny.  Anyone can invent one, and guys like Mr. Craig Wright can certainly have a field day manipulating the entire market -- https://coinnounce.com/bitcoin-cash-hard-fork-screwed-the-whole-cryptocurrency-market/

Invented by man, regulated by man, and will ultimately suffer due to man's whims.  Don't get me wrong, I'd like to see my lotto ticket cash, but if it doesn't I'm out about a quarter's worth of REIT dividends.  Other rather impulsive types might be digging out of the hole they created for decades.  When Long Island Iced Tea Co can skyrocket its stock by 8000% or so in a day just by changing the company name to Long Island Iced Tea and Blockchain Co, its time to wave the red flag.

That happens with every market, to be honest. Like I said earlier this is a new market and just starting so let the bear market shake out the weak hands it will mean a healthier and stronger correction. The cryptocurrency market has a long way to go before it will be considered the end. Right now while most people are avoiding the market the wealthy are buying up everything cheaper and pushing it down even further so they can accumulate. Sound familiar? You can agree with me or not but I'm not buying what these people are saying at all.

9 minutes ago, mattn792 said:

Buddy, ANY man made currency is "fiat".  Dwell on that for a bit.

No, it's not. Fiat is the currency that the government promises has value nothing more or less. No one owns cryptocurrency. Also, it needs to be legal tender for the government to consider it currency like you say. Soon enough it will be accepted in US and Canada. Cryptocurrency has the value that fiat will never have.

43 minutes ago, mattn792 said:

This has a high probability of being true, though I do maintain a small lottery ticket in Ethereum and BitCon through Grayscale's publicly traded trusts (again, wouldn't trust those exchanges with my dog's name, much less all my PII).

@uchiha101 - I assume you're using multiple exchanges to mitigate the risk of hacking?  That in itself should tell you something.

I actually use lots of different exchanges because I invest in many different crypto's or look for certain trading pairs. As for leaving all my money in one exchange even if it were fiat it's not something I would feel comfortable doing unless it has an insurance policy for that situation. But while we're talking about exchanges my favorite is Kucoin.

49 minutes ago, 1950's war comics said:

stay away from crypto... that ships has already sailed away.....hit a reef and sunk with all hands on deck,,,,,,

Thanks for the advice but it's actually just getting started. In any case I don't invest more than I can afford to lose as with anything

36 minutes ago, mattn792 said:

Sounds like you’re making it too difficult on yourself.  Much easier to have all your holdings under one roof.  Though admittedly I wouldn’t trust those crypto exchanges worth a .

Well, it would take me a few days to get everything together. If you're talking about having all my crypto on one exchange that's not a good idea but if you're talking about having it in my wallet it's not something I do often because if an opportunity for gains happens I want to already have it on the exchange to go instead of waiting

1 minute ago, jaybuck43 said:

Wait, what?  This isn't rocket science.  Before Christmas I bought more Shell stock at $57.00 a share.  Today it's at $62.22.  That means i'm up $5.22 per share.  Whether I bought 1 share or 10,000 shares doesn't matter.  With Crypto you're either up or you're down.  Unless you are day trading Crypto, you should rather quickly have an idea on how you're doing.    Given that the entire market is down like 87% from the start of last year to today, you almost certainly are down.

No, you're right but I have multiple accounts, wallet addresses and so on. It's gonna be a pain to get this all in order for the year of 2018 and not something  I'll do in one day but it will get done.

39 minutes ago, mattn792 said:

No, I mean watching the value of your holdings throughout the year.  If you're only finding out at tax time how much you've gained or lost, then you're doing yourself a disservice.

Oh, that's what you meant. I thought you were talking about the actual taxes themselves. I do check in on what my earnings and losses are but totaling them together is what I do before taxes happen. It's something I need to get in the habit of doing more often.

27 minutes ago, mattn792 said:

Why not stay on top of it yourself throughout the year?

Like getting my taxes in order every 3 months?

14 minutes ago, mattn792 said:

And you’ve lost how much in the CryptoCon arena on top of this?  

I'll let you know when I get my taxes done

52 minutes ago, miraclemet said:

Wow dude, sorry

 That's a big hit.

Were the renovations not communicated to you? (remind me are you at home or in your own apartment?) 

They were and I had the shelf moved far away from the renovations, told them multiple times not to get close to it, and it had a protective covering over the entire thing.

Updates

Video game losses

$301.72 USD

Thrift shop purchase losses

$400 USD

The inventory will be calculated later but it will be nowhere near enough to recover my costs. Everything has nearly been thrown out due to renovations and I can't in good conscience sell something with drywall dust on it even if I had been able to clean it I still wouldn't sell it. That's all I wish to say about this.