Jay
Bork! Bork! Bork!
+2,006|5575|London, England
You know who made all the money on Bitcoin? These guys:

https://thenypost.files.wordpress.com/2013/09/tylercameronwinklevoss_getty.jpg

Once hedge funds discovered Bitcoin it was going to become the next gold, a hedge against inflation. It gives Wall Streeters something else to gamble on.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
SuperJail Warden
Gone Forever
+640|3937
I doubt they made that much off of it. They got into it pretty late. Those two are billionaires but it is all thanks to Facebook. They have a lot of hype around them that is probably unwarranted. A case of "those guys were in that movie". They were on reddit trying to get people to invest in bitcoin by telling them it might go up to $90,000 a coin. Shady as fuck people.
https://i.imgur.com/xsoGn9X.jpg
Dilbert_X
The X stands for
+1,813|6323|eXtreme to the maX
My share portfolio made 12%/yr for the last four years

That's better than Madoff was claiming to get

https://www.dynamicbusiness.com.au/wp-content/uploads/2013/10/Winning.jpg

So what if that's about what the market made on average.
Fuck Israel
jsnipy
...
+3,276|6740|...

SuperJail Warden wrote:

I doubt they made that much off of it. They got into it pretty late. Those two are billionaires but it is all thanks to Facebook. They have a lot of hype around them that is probably unwarranted. A case of "those guys were in that movie". They were on reddit trying to get people to invest in bitcoin by telling them it might go up to $90,000 a coin. Shady as fuck people.
There is a formula that is used to equate it gold.

True, people who made money are those how bought them or mined them in the very beginning. Like Max
SuperJail Warden
Gone Forever
+640|3937
How do you all feel about gentrification? It bothers me that there are new luxury apartments being built in my town while nothing is done to make the city affordable for people who have lived here for generations. The city government has also segregated the local high school between the gifted students, who are overwhelmingly Indian and East Asians, and everyone else. It is pretty clear that the plan is to push out as many of the poor people as they can while replacing them with high earners.
https://i.imgur.com/xsoGn9X.jpg
pirana6
Go Cougs!
+691|6508|Washington St.
welcome to free market capitalism my boy. you're gonna love it.
SuperJail Warden
Gone Forever
+640|3937
I thought this was a Christian country
https://i.imgur.com/xsoGn9X.jpg
Steve-0
Karma limited. Contact Admin to Be Promoted.
+215|4177|SL,UT

SuperJail Warden wrote:

I thought this was a Christian country
https://i.imgur.com/xcfkDIO.jpg
DesertFox-
The very model of a modern major general
+796|6902|United States of America

SuperJail Warden wrote:

How do you all feel about gentrification? It bothers me that there are new luxury apartments being built in my town while nothing is done to make the city affordable for people who have lived here for generations. The city government has also segregated the local high school between the gifted students, who are overwhelmingly Indian and East Asians, and everyone else. It is pretty clear that the plan is to push out as many of the poor people as they can while replacing them with high earners.
There was a interesting explanation I saw the other day, courtesy of r/explainlikeimfive.

Last edited by DesertFox- (2015-01-02 12:55:46)

SuperJail Warden
Gone Forever
+640|3937
I don't think there is a cycle for the most part. Those neighborhoods in NYC where hipsters are moving into and pushing the poor out were never that great. They were originally working class areas that relied on nearby factories. Developers building luxury units there are not bringing back the glory days of Brooklyn. They are just creating a permanent high income residential zone for Manhattan workers.



Also people being priced out isn't just a natural process like the tides coming in. It is always a government sponsored movement of undesirable people that destroys support systems that took generations to build.
https://i.imgur.com/xsoGn9X.jpg
Shahter
Zee Ruskie
+295|6993|Moscow, Russia

Jay wrote:

You know who made all the money on Bitcoin? These guys:

Once hedge funds discovered Bitcoin it was going to become the next gold, a hedge against inflation. It gives Wall Streeters something else to gamble on.
yet another way to make money out of nothing work inflation in one's favor, while producing nothing of value.

but hey, i've been making some honest money lately on removing bitcoin mining malware, among other things.
if you open your mind too much your brain will fall out.
Jay
Bork! Bork! Bork!
+2,006|5575|London, England

SuperJail Warden wrote:

I don't think there is a cycle for the most part. Those neighborhoods in NYC where hipsters are moving into and pushing the poor out were never that great. They were originally working class areas that relied on nearby factories. Developers building luxury units there are not bringing back the glory days of Brooklyn. They are just creating a permanent high income residential zone for Manhattan workers.



Also people being priced out isn't just a natural process like the tides coming in. It is always a government sponsored movement of undesirable people that destroys support systems that took generations to build.
There were a lot of nice parts to Brooklyn originally. Before its unification with Manhattan and the rest of what is now NYC, Brooklyn was the second largest city in the country. Park Slope and Brooklyn Heights were full of wealthy people, it's why Prospect Park was commissioned.

Gentrification sucks only to those that fetishize being poor. Yes, in places like East New York it means that communities are being uprooted and changed. I've watched Crown Heights and East New York change dramatically in the last few years. I walk down the street there and I see hipster white people and shellshocked looking black people. They don't mingle, they don't interact, they live separate lives side-by-side. The white people jog or walk their dog down the street, the black people smoke cigarettes and walk at a measured pace. The hipsters have their own gluten free vegan shops, and artisanal bakery right next to the guy selling jerk chicken. One day, the guy selling jerk chicken, whose store they never frequented, will be replaced by a dunkin donuts or a starbucks and they will lament the lack of authenticity in their neighborhood, a neighborhood they were never really a part of.

The developers are building condos in those neighborhoods left and right, driving up home values across the board. The smart homeowners are holding on and waiting for higher prices. When they do sell, they'll be in good shape and able to afford a much nicer home than what they left behind. Gentrification is ultimately a wealth transfer from well-to-do morons from the Midwest who come to the city with daddy's credit card paying the bills to people who were smart or fortunate enough to get in front of them. The developers benefit, the existing homeowners benefit, the losers are moron hipsters and those unfortunate souls who were renting in the neighborhood prior to its development. Renters are transitory and not the foundation of a community anyway.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
SuperJail Warden
Gone Forever
+640|3937
I really don't care about black people or the real estate market in Brooklyn. And I don't know what you mean by 'fetishizing the poor'. They exist and something has to be done with them. My point is- gentrification is a negative due to shifting poor people around. It doesn't solve any longterm economic issues and hurts displaced poor. It also hurts middle class and working class americans.


An article in the Atlantic wrote about suburban poverty's rise due to gentrification in the inner cities. Middle class neighborhoods are being destroyed by incoming displaced poor. Gentrification is just spreading urban misery onto everyone else.

"More people with low incomes now live outside of cities, and some areas are ill-equipped to deal with the influx of the poor."
http://www.theatlantic.com/business/arc … ty/384259/


also


"The Frightening Growth of Suburban Slums"
http://www.slate.com/blogs/moneybox/201 … rated.html


"How the Suburbs Got Poor"
http://www.slate.com/articles/news_and_ … ilies.html
https://i.imgur.com/xsoGn9X.jpg
Steve-0
Karma limited. Contact Admin to Be Promoted.
+215|4177|SL,UT

years ago, i started a 401Keg plan. i invest in beer, recycle the aluminum, buy more beer, etc.
Bertster7
Confused Pothead
+1,101|6799|SE London

Jay wrote:

Gentrification sucks only to those that fetishize being poor.
I agree with this soooo much. But there is an exception - as seen in London. Even in London, I do more or less agree with this.

Foreign Billionaires buying everything and driving the prices through the roof. It's a big deal over here and house price rises are insane here. Foreign investors buy a huge proportion of every prestigious new development and the global scale of the demand does cause problems.

I bought my two bedroom flat about 3 years ago for £250000 - it's now valued at over £400000. That is crazy - but works out as quite a nice investment for me.
SuperJail Warden
Gone Forever
+640|3937
I still haven't gotten a response as to what to do with the displaced poor. Not ignoring them is a fetish from what I understand.
https://i.imgur.com/xsoGn9X.jpg
Cybargs
Moderated
+2,285|6934

Bertster7 wrote:

Jay wrote:

Gentrification sucks only to those that fetishize being poor.
I agree with this soooo much. But there is an exception - as seen in London. Even in London, I do more or less agree with this.

Foreign Billionaires buying everything and driving the prices through the roof. It's a big deal over here and house price rises are insane here. Foreign investors buy a huge proportion of every prestigious new development and the global scale of the demand does cause problems.

I bought my two bedroom flat about 3 years ago for £250000 - it's now valued at over £400000. That is crazy - but works out as quite a nice investment for me.
That's a tidy profit and more money than you can make in 2 years. 75k quid a year is quite a bit of money.

Sydney and Vancouver is experiencing the same thing with the chinese investors. It's not just the rich, lots of people do it for "prestige" when they talk business. It's such a thing about face having a property in a famous foreign city eg london nyc sydney Vancouver etc.

We got foreign investors rules (non-citizens/PR's) can only buy brand new property for investment. Lots of them use proxies/investment firms/lawyers to buy regular property.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
Jay
Bork! Bork! Bork!
+2,006|5575|London, England

Bertster7 wrote:

Jay wrote:

Gentrification sucks only to those that fetishize being poor.
I agree with this soooo much. But there is an exception - as seen in London. Even in London, I do more or less agree with this.

Foreign Billionaires buying everything and driving the prices through the roof. It's a big deal over here and house price rises are insane here. Foreign investors buy a huge proportion of every prestigious new development and the global scale of the demand does cause problems.

I bought my two bedroom flat about 3 years ago for £250000 - it's now valued at over £400000. That is crazy - but works out as quite a nice investment for me.
There are large portions of Manhattan that are basically uninhabited for most of the year. Lots of Chinese and Russian money laundering going on. They're paying property taxes and basically using zero services so it's a net positive. The downside is either longer commute times or higher rents if you absolutely insist on renting in the heart of the city.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
Jay
Bork! Bork! Bork!
+2,006|5575|London, England

SuperJail Warden wrote:

I still haven't gotten a response as to what to do with the displaced poor. Not ignoring them is a fetish from what I understand.
They move to long island or jersey, the same thing every other ethnic group has done.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
SuperJail Warden
Gone Forever
+640|3937
So make them someone else's problem.
That is not a solution.
https://i.imgur.com/xsoGn9X.jpg
Jay
Bork! Bork! Bork!
+2,006|5575|London, England

SuperJail Warden wrote:

So make them someone else's problem.
That is not a solution.
Why are they a problem? Is your solution more public housing? Because that's done a whole shit load of bad to these people. Condensing them into block tenements also condenses the crime and creates economic dead zones, making it that much harder to 'get out'. I'd rather they scatter to the four winds and organically find a place to build a new home. It will spread out and dillute the poverty, giving them more opportunity in the end.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
Cybargs
Moderated
+2,285|6934

SuperJail Warden wrote:

So make them someone else's problem.
That is not a solution.
So making neighborhoods nicer is a problem? Wow.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
SuperJail Warden
Gone Forever
+640|3937
Do you have a problem following discussions? I already said I don't care about real estate development. I care about people being displaced and the ramifications. Please don't drag the conversation back a month, thanks.
https://i.imgur.com/xsoGn9X.jpg
Cybargs
Moderated
+2,285|6934

SuperJail Warden wrote:

Do you have a problem following discussions? I already said I don't care about real estate development. I care about people being displaced and the ramifications. Please don't drag the conversation back a month, thanks.
Have you ever thought those po people who own property in the neighborhoods make a lot of money from their properties going up? all the westies in sydney are laughing when their houses have gone up 30% in the last year.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
SuperJail Warden
Gone Forever
+640|3937
For the third time, I don't care about the real estate market. How much more money a slumlord makes isn't my issue. In the poorest communities, the people who own property are often a small subset of the larger community. How many people own property around a public housing unit compared to the amount of people who live in the unit?
https://i.imgur.com/xsoGn9X.jpg

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