[rustyp]

Originally Posted by MartinSE

Bitcoins use an enormous amount of energy to mine, resulting is contribution to climate change. Bitcoins use an enormous amount of computers/GPUs to mine, using rare earth minerals.

There are better alternatives.

I agree with you. The real plus of bitcoin is takes money from a centralized system to a decentralized system. Just like electric vehicles will take an enormous amount of energy in the form of electricity demand and need to build charging stations bitcoin will grow and problem solutions will be developed. IMHO bitcoin development is moving faster than EV development. Much of bitcoin issues can be solved with education ans software. EVs need a whole materialistic infrastructure to be built. Don't lose site of batteries are doing a pretty good job of consuming some non abundant minerals. Myself I'm rooting for both EVs and bitcoin. Necessity is the motherhood of invention.

[rustyp]

Originally Posted by Babubhat

There are hundreds of coins. Nothing special about Btc other than hyped by media and those who paid little for it. Speculators love action. Just another tulip based on faith. It’s great until it isn’t

Bitcoin was the first cryptocurrency and altcoins just stands for all other cryptocurrencies that have been created since. Bitcoin has far more infrastructure in place than the next leading coin. If cryptocurrency becomes the world's reserve standard at this moment in time bitcoin is far in the lead.

[jimbomaybe]

Originally Posted by Packer Fan

I will answer that one because it is so easy. Even though he said it "in hindsight" I can point to many Facebook posts I made and friends I told a year ago. I lead the Supply Chain at a large corporation (in the S&P500). At the beginning of 2021 I saw inflation, and started to call on The FED to raise rates, and the government to stop ALL subsidies. When the FED said it was transitory, I said it was not, and they should raise rates. When the Federal Government started its war on oil, I said this would end badly. Well the chickens have come home to roost. Inflation is RAMPANT. I spend all my days discussing price increases with suppliers - This week - Nylon, Polypropolene, Corrugate, plastic packaging, and drawer slides and the week is just getting started. Thes price increases are round 4 by my count and will not hit consumers until the second half of this year. Labor and Oil are the cost drivers. All those kids you people raised trying to be their friends don't want to work, and we want to go beg everyone else to produce more oil instead of working with our domestic industry. The solution?

1. Raise the Fed Funds rate by 1/2 percent this month, and by 1/4 every month going forward.
2. Unlimited drilling leases and restart the Keystone XL pipeline.
3. Fast track the 6 other new pipelines for Gas and Oil that regulators are sitting on.
4. Go back to the Clinton era regulations on Welfare and make everyone work.
5. Cut back US government spending by 10% immediately.
6. Open up LEGAL immigration to 5 million legal immigrants from Central and South America a year with a clear path to citizenship - you work for a company in the US with a clean work record for 10 years, pass a US history and English test and we make you a citizen. NO ILLEGALS get citizenship. They have to go back and get in line. We need workers BADLY and this would give them to us.

The solution to this is simple, but the Federal reserve and the President are not willing to do it, so my suggestion is buy real estate, stocks, and commodities. Also wait until 70 to take your Social Security, but that was a no brainer before this. It is the best inflation protection you can buy.

BTW- I tried to stay away as much from Politics as I could here by offering direct solutions. I really don't care what party it is, something needs to be done.

Hard to argue with your post, many good ideas won't work in the real world ( avoiding the P word ) the only fly in your ointment Packers ??? Go Bears !!

[Michael G.]

Originally Posted by jimbomaybe

Packers ??? Go Bears !!

To hell with the Bears, their losers.........Go Packers !

[JMintzer]

Originally Posted by Michael G.

Many senior friends of mine are slowing giving their sons/daughters some of their inheritance while their living.

I'm sure there is a certain percentage of financial guidance involved with mom and dad that comes with it.

Yup. There is a limit on how much you can "gift" a child per year without major tax ramifications...

[retiredguy123]

Originally Posted by JMintzer

Yup. There is a limit on how much you can "gift" a child per year without major tax ramifications...

That is a law that is often misunderstood. Actually, you can give any individual up to $16,000 each every year with no tax consequences. But, even if you exceed that amount, as long as your entire estate does not exceed $12.06 million, you will owe no taxes. If you exceed the $16,000 annual limit in a single year, you just need to file a gift tax form, but you will owe no taxes until you exceed the lifetime $12.06 million amount. Note that the $12.06 million lifetime limit is scheduled to decrease to $6 million in 2026.

[rustyp]

Originally Posted by retiredguy123

That is a law that is often misunderstood. Actually, you can give any individual up to $16,000 each every year with no tax consequences. But, even if you exceed that amount, as long as your entire estate does not exceed $12.06 million, you will owe no taxes. If you exceed the $16,000 annual limit in a single year, you just need to file a gift tax form, but you will owe no taxes until you exceed the lifetime $12.06 million amount. Note that the $12.06 million lifetime limit is scheduled to decrease to $6 million in 2026.

I'm screwed if I make till 2026. Calling the kids tonight giving them the bad news.

[Stu from NYC]

Originally Posted by retiredguy123

That is a law that is often misunderstood. Actually, you can give any individual up to $16,000 each every year with no tax consequences. But, even if you exceed that amount, as long as your entire estate does not exceed $12.06 million, you will owe no taxes. If you exceed the $16,000 annual limit in a single year, you just need to file a gift tax form, but you will owe no taxes until you exceed the lifetime $12.06 million amount. Note that the $12.06 million lifetime limit is scheduled to decrease to $6 million in 2026.

Does the recipient owe taxes about $ 16,000?

[retiredguy123]

Originally Posted by Stu from NYC

Does the recipient owe taxes about $ 16,000?

No. A gift is not taxable income. That is another common misconception.

[JMintzer]

Originally Posted by retiredguy123

That is a law that is often misunderstood. Actually, you can give any individual up to $16,000 each every year with no tax consequences. But, even if you exceed that amount, as long as your entire estate does not exceed $12.06 million, you will owe no taxes. If you exceed the $16,000 annual limit in a single year, you just need to file a gift tax form, but you will owe no taxes until you exceed the lifetime $12.06 million amount. Note that the $12.06 million lifetime limit is scheduled to decrease to $6 million in 2026.

Oh, well now I'm screwed! Gotta' start spending that $6.02 Million now!

[Boomer]

On the thread topic of inflation………

If you are interested in hearing an actual economist give his opinion, take a look at Consuelo Mack’s most recent program “WealthTrack” (PBS). Past episodes can be found at wealthtrack.com

I record “WealthTrack” each week. It is a short show, well-organized, and, at the end of every program, she always asks the professional she interviews to give a “tip” to her viewers.

The guy she talked to last week is known as a Fed Watcher (aren’t we all) who has some interesting comments on how he is viewing globalization now and also talks about behavioral economics.

I am fascinated by the behavioral aspect of economics and, boy oh boy, we sure are in the throes of that right now, especially re. the housing market. He also talks about the effect of the supply chain mess on behavioral econ.

If you watch this episode, don’t let the guy’s haircut distract you. Great hair. Weird style.

Boomer

[MartinSE]

///

[MartinSE]

Originally Posted by Boomer

On the thread topic of inflation………

If you are interested in hearing an actual economist give his opinion, take a look at Consuelo Mack’s most recent program “WealthTrack” (PBS). Past episodes can be found at wealthtrack.com

I record “WealthTrack” each week. It is a short show, well-organized, and, at the end of every program, she always asks the professional she interviews to give a “tip” to her viewers.

The guy she talked to last week is known as a Fed Watcher (aren’t we all) who has some interesting comments on how he is viewing globalization now and also talks about behavioral economics.

I am fascinated by the behavioral aspect of economics and, boy oh boy, we sure are in the throes of that right now, especially re. the housing market. He also talks about the effect of the supply chain mess on behavioral econ.

(If you watch this episode, don’t let the guy’s haircut distract you. Great hair. Weird style. )

Boomer

Thank you for the post, I will certainly watch it.

At first I was afraid the "economist" would be an "expert". ahem... But, I see it is on PBS, and I have confidence in PBS to not air nonsense. I don't always agree with them, but in general they seem to be reliable.

[kkingston57]

Originally Posted by tophcfa

Don’t you mean on a negative note, your home will be reaccessed and your property taxes will get jacked up.

Only if you are not a Florida resident. Rate of tax hike is capped. Do not know the cap rate but it is around 2-3%.

[Bay Kid]

Originally Posted by retiredguy123

That is a law that is often misunderstood. Actually, you can give any individual up to $16,000 each every year with no tax consequences. But, even if you exceed that amount, as long as your entire estate does not exceed $12.06 million, you will owe no taxes. If you exceed the $16,000 annual limit in a single year, you just need to file a gift tax form, but you will owe no taxes until you exceed the lifetime $12.06 million amount. Note that the $12.06 million lifetime limit is scheduled to decrease to $6 million in 2026.

That $6 million won't be worth that the way inflation is going.