Personal Finance

Another Financial Bubble Will Burst!

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  • Nov 10th, 2015 6:41 pm
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Deal Fanatic
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Apr 20, 2011
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Vancouver
cappuccinosf wrote: What's the value of Bitcoins right now in comparison to their high value? $380 vs $1124? How many other currencies are worth 1/4 what they were worth 2 years ago?

The value of everything is based on faith and perception. Things are only worth what someone will give you for it; that applies to fiat currencies, crypto-currencies, precious metals, real estate... everything!
The difference is with bitcoins you need to pay tax when you make a profit on converting them to Canadian dollars
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Jan 14, 2009
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popbottle wrote: The difference is with bitcoins you need to pay tax when you make a profit on converting them to Canadian dollars
I hate paying taxes. Any investments where capital gains are TAX FREE?!?!
Sr. Member
Sep 10, 2014
533 posts
89 upvotes
Dartmouth, NS
popbottle wrote: The difference is with bitcoins you need to pay tax when you make a profit on converting them to Canadian dollars
How is that either relative to anything I said or different? You make a profit on anything, unless it's a tax exempt item, and you have to pay tax.
Deal Addict
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Jun 8, 2008
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GTA
I'm just waiting for a random solar flare to hit any minute. If not that, you have till 2027 to collect all the insurmountable amounts of debt. Hey if the mass extinction asteroid is going to hit us anyway whats the point anyway?
Do you know last week an asteroid passed us that if it hit earth it would send a continent back into the stone ages.

*tinfoil hat*

What I'm saying is anything can happen any time, so threads like this are ridiculous.
Banned
Feb 22, 2014
294 posts
9 upvotes
CALGARY
jarko wrote: I'm just waiting for a random solar flare to hit any minute. If not that, you have till 2027 to collect all the insurmountable amounts of debt. Hey if the mass extinction asteroid is going to hit us anyway whats the point anyway?
Do you know last week an asteroid passed us that if it hit earth it would send a continent back into the stone ages.

*tinfoil hat*

What I'm saying is anything can happen any time, so threads like this are ridiculous.
This post is ridiculous. I could get hit by a bus or be struck by lightning tomorrow so what's the point in doing anything at all. ;)
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Nov 2, 2013
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Edmonton, AB
zakarydoks wrote: Sometimes we have to take a step back to realize what's really important to us. Material luxuries are nice but it is not an essential. I could live in a 700 sf condo in Surrey and be happy as long as I can do the things that like with the people I love.
Location pricing is a phenomenon all over Canada, not just Vancouver. In Alberta here, the city prime locations are ridiculously overpriced too. Like half a million dollars for a tiny condo just because it's close to the university or downtown. My supervisor used to joke that it lets you look past the bums. If you want a unit in a high rise on an upper floor, closer to a million dollars in some buildings. The same thing would run you maybe mid 2xxK in the suburbs. Sometimes I wonder who buys these things and noticed it's usually old farts who can't be bothered to drive and have too much money, or couples who have an emotional obsession with real estate and have to show it off to their friends.

For myself, monthly housing costs are about 1/5 of my net income, so that's comfortable enough for me. 1/8 - 1/7 if I rent half of it out. I'm not exactly the best saver in the world, but I prefer to enjoy my money on more of a mixture of experiences. But then I'm biased as I love getting out of the house and enjoying the outdoors, or am away from it frequently for work. The time I really spend in the thing is relatively small.
Accountant (Public Practice)
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Apr 20, 2011
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Vancouver
zakarydoks wrote: Sometimes we have to take a step back to realize what's really important to us. Material luxuries are nice but it is not an essential. I could live in a 700 sf condo in Surrey
and be happy as long as I can do the things that like with the people I love.

^^
This. The area thing is a unique concept specific to Metro Vancouver. This is apparent to most , especially those that finished a relevant degree. There are many unique things to Vancouver , one of them is the ability to chose tax laws by vote if there is enough support. No other area in Canada allows this.
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Oct 7, 2007
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popbottle wrote: ^^
This. The area thing is a unique concept specific to Metro Vancouver. This is apparent to most , especially those that finished a relevant degree. There are many unique things to Vancouver , one of them is the ability to chose tax laws by vote if there is enough support. No other area in Canada allows this.
What exactly are you referring to here? Are you talking about the recent referendums on HST and the Broadway subway? The HST referendum was BC-wide and not just limited to Vancouver. Also, I am not so sure that other parts of Canada cannot hold referenda if they so choose. I also don't think the City of Vancouver wanted to have a referendum on the Broadway subway and will opt not to follow a democratic process the next time they decide to proceed with something.
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Apr 20, 2011
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the Broadway subway/transit plan thing was put to a vote involuntarily by the Government. The HST was different- enough support was gathered among the public to put it to a vote
Deal Addict
Mar 8, 2013
2950 posts
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zakarydoks wrote: I hate paying taxes. Any investments where capital gains are TAX FREE?!?!
personal-use capital property assets (eg collectibles such as stamps, art) that have a cost of $1,000 or less and are sold for $1,000 or less are exempt
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
Ontario is also considering allowing individual towns to charge transfer taxes -- that could drive the market up again (if people really want to move)....

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