OT: Sens Lounge: "Pleeease won't you be.....my neighboµr"

[Tnuoc Alucard]

What is your point?

That Bitcoin Surged To a new High Above $76,000, earlier this week….. ?

 

[Mingus Dew]

You guys are noobs. Go to grocery stores that price match and use the cashback cc that gives you the highest % on groceries.

Also buy bitcoin, you noobs. How on earth have none of you at least bought some BTCC in your tfsa's?

I gave you all the recipe for financial freedom and instead you guys made chili

You personally have made me a lot of money with your conviction my dude.

Some of us listened

 

[2CHAINZ]

You personally have made me a lot of money with your conviction my dude.

Some of us listened

 

[Stylizer1]

So, dipped into the grocery store today and stewing beef on sale for a great price of $11.00/kg. Each were a little over a kg so it ended up being around $6 for 1.25lbs.

At 4oz a portion = 4 portions per lb

4 packs came to 50$

So,

$50/32, 4oz portions = $1.56 a portion.

BOOMSHAKALAKA!!!

 

[maclean]

So, dipped into the grocery store today and stewing beef on sale for a great price of $11.00/kg. Each were a little over a kg so it ended up being around $6 for 1.25lbs.

At 4oz a portion = 4 portions per lb

4 packs came to 50$

So,

$50/32, 4oz portions = $1.56 a portion.

View attachment 927852

BOOMSHAKALAKA!!!

Btw, you have a big chest freezer for all this?

My freezer's not tiny, but with three drawers, it's got one full of organic pork from a pig some friends and I butchered ourselves (so worked out to less than 6 bucks a kilo), one is full of bread I pick up when it's on sale at the end of expiry, and one is other odds and ends. Not really the space to go all out when I come across another good sale unfortunately.

 

[Micklebot]

Btw, you have a big chest freezer for all this?

My freezer's not tiny, but with three drawers, it's got one full of organic pork from a pig some friends and I butchered ourselves (so worked out to less than 6 bucks a kilo), one is full of bread I pick up when it's on sale at the end of expiry, and one is other odds and ends. Not really the space to go all out when I come across another good sale unfortunately.

I was going to say, part of the "cost" of being able to buy in bulk when things are on sale and freeze stuff for later is being affluent enough to have the ability and resources to have a deep freeze and storage. My food costs dropped a fair bit when I bought a house and had the space for a freezer. There's also the cost of time to prepare your own meals, for some people that just means not watching as much TV, but for some it might mean sacrificing something else (like shifts)

Depending on where you live, shopping around for deals might not be an option, especially if your local grocery store doesn't price match and you rely on public transit.

 

[BonHoonLayneCornell]

Is Bitcoin fairly low entry or do you need $1000's to put towards it? And how do you buy said Bitcoin? Broke ass single dad asking lol.

 

[Micklebot]

Is Bitcoin fairly low entry or do you need $1000's to put towards it? And how do you buy said Bitcoin? Broke ass single dad asking lol.

you can buy a fraction of a bitcoin, so even if it's $1000 per. you can still buy some.

 

[2CHAINZ]

Is Bitcoin fairly low entry or do you need $1000's to put towards it? And how do you buy said Bitcoin? Broke ass single dad asking lol.

You can buy bitcoin at any amount off any exchange like Kraken or coinbase. You can also purchase the bitcoin etf in Canada it's BTCC, you can buy the etf in your tfsa and get tax free exposure to bitcoin.

 

[BonHoonLayneCornell]

You can buy bitcoin at any amount off any exchange like Kraken or coinbase. You can also purchase the bitcoin etf in Canada it's BTCC, you can buy the etf in your tfsa and get tax free exposure to bitcoin.

And what happens after I buy it? I just leave it there for years and one day draw it out at hopefully some gains or is there a different strategy?

 

[2CHAINZ]

And what happens after I buy it? I just leave it there for years and one day draw it out at hopefully some gains or is there a different strategy?

Well you can sell it for a loss if you prefer.

 

[BonHoonLayneCornell]

Well you can sell it for a loss if you prefer.

Lol, fair, dumb question I guess. I've never invested and my parents were basically financially illiterates and broke before they passed, so I'm a dummy when it comes to anything to do with investing. Don't worry, I don't actually have any spare money to invest anyways, I was just curious.

 

[DrEasy]

Lol, fair, dumb question I guess. I've never invested and my parents were basically financially illiterates and broke before they passed, so I'm a dummy when it comes to anything to do with investing. Don't worry, I don't actually have any spare money to invest anyways, I was just curious.

I was a dummy too until fairly recently. WealthSimple is an app you can install, and you can transfer some money in there with which you can buy stocks or ETFs such as this BTCC thing. Unlike with normal banks there is no minimum amount (my wife just has a fraction of a single Shopify stock lol), and more importantly no transaction fee! I'm only dipping my toe in the water at this point, because it very much feels like gambling, but so far it has been working for me. I just buy something, never sell it if I'm making a loss, and occasionally I sell to pocket the profit, and repeat/recycle.

For me I've mostly gone with ETFs that pay a pretty stable dividend. But sometimes I buy some stock based on a hunch too...

edit: I have another rule too, which is that I don't buy something I don't understand. That's partially why I've stayed clear of BTCC, to my detriment apparently!

 

[Mingus Dew]

Some people look at inflationary currencies like the USD and long term they view BTC as an alternative and a hedge. A more sound store of value. These are the maximalists. They don’t buy BTC so much as they sell fiat currency. They will probably hold forever and maybe take loans against their BTC holdings for immediate liquidity in the future.

Other people are traders. They are buying a speculative asset to sell it later for a gain. These folks are less concerned with what BTC will or won’t be in 30 years and more concerned with making a smart investment and profit.

Personally I’m somewhere in between. I will always hold some minimum amount because the Austrian economist in me (some things never die although I abandoned the worldview long ago) can’t resist. But I’ll be selling next year if my price target is met. If not, I’ll hold and wait. No fees to hold BTC so if you don’t invest more than you’re able to lose comfortably you’ll be able to survive a very long time horizon.

That said, all of us late adopters are losers in the greater scheme. The folks that saw this opportunity many years ago, like @2CHAINZ, have won the game already.

 

[Stylizer1]

Btw, you have a big chest freezer for all this?

My freezer's not tiny, but with three drawers, it's got one full of organic pork from a pig some friends and I butchered ourselves (so worked out to less than 6 bucks a kilo), one is full of bread I pick up when it's on sale at the end of expiry, and one is other odds and ends. Not really the space to go all out when I come across another good sale unfortunately.

Just a standard fridge/freezer combo. I would say it's packed with %80 meat at the best of times. Portioning things before they go in makes it very easy to pull them out and fit more in. Was looking into buying a small chest freezer but I find things just get forgotten in them.

I wouldn't use the freezer for bread. Takes up way to much space and you are not really saving much/empty calories.

 

[BonHoonLayneCornell]

I was a dummy too until fairly recently. WealthSimple is an app you can install, and you can transfer some money in there with which you can buy stocks or ETFs such as this BTCC thing. Unlike with normal banks there is no minimum amount (my wife just has a fraction of a single Shopify stock lol), and more importantly no transaction fee! I'm only dipping my toe in the water at this point, because it very much feels like gambling, but so far it has been working for me. I just buy something, never sell it if I'm making a loss, and occasionally I sell to pocket the profit, and repeat/recycle.

For me I've mostly gone with ETFs that pay a pretty stable dividend. But sometimes I buy some stock based on a hunch too...

edit: I have another rule too, which is that I don't buy something I don't understand. That's partially why I've stayed clear of BTCC, to my detriment apparently!

That sounds reasonable. Thanks. As someone who won't ever be able to retire and just wants to try to leave some equity for my son after I'm gone, I feel like I need to do something other than just partially own a house, but it can be overwhelming without the knowledge.

 

[Burrowsaurus]

You’re basically eating Sugar….

View attachment 922359

What else would you be eating lol? It’s a creamy super sweet chocolatey spread.

 

[Stylizer1]

What else would you be eating lol? It’s a creamy super sweet chocolatey spread.

 

[DrEasy]

That sounds reasonable. Thanks. As someone who won't ever be able to retire and just wants to try to leave some equity for my son after I'm gone, I feel like I need to do something other than just partially own a house, but it can be overwhelming without the knowledge.

In that case I think the risk-averse in me would prioritize owning the house, paying off all the debt/mortgage/etc first, then do something boring like mutual funds at a big bank, and only then if you are lucky to have money left, start doing the risky/exciting stuff. Most of us are stuck at stages 1 or 2 of that plan...

 

[Tnuoc Alucard]

What is your point?

The DOW also had a big jump this week….

 

[Stylizer1]

I was going to say, part of the "cost" of being able to buy in bulk when things are on sale and freeze stuff for later is being affluent enough to have the ability and resources to have a deep freeze and storage. My food costs dropped a fair bit when I bought a house and had the space for a freezer. There's also the cost of time to prepare your own meals, for some people that just means not watching as much TV, but for some it might mean sacrificing something else (like shifts)

Depending on where you live, shopping around for deals might not be an option, especially if your local grocery store doesn't price match and you rely on public transit.

Food doesn't take that long to make and when you do cook a double batch. If I'm going to make stew I'll cook 2 meals and freeze one. Just won't put potatoes in the one I'm going to freeze, add them for the next meal. Spaghetti sauce the same thing. If it's going to be a busy week Ill pull out a bag of drum sticks, a pork tenderloin, and a container of chili. Fire up the BBQ and cook the pork and the chicken at the same time and have the chili in between nights. Sausage on a bun with salad and Naan pizzas for the quick simple nights. 1 hour every Sunday can set your week up pretty easy.

Not having a car would suck and would limit your options.

 

[Nac Mac Feegle]

Having a freezer in the basement was one of the best investments I've made. It's a stand up fridge style, but holds a ton. And with so much space, you can load it up with pastries, butter and various other goodies.

Right now about half the stuff in it is meat, and a good number of frozen dinners and butter when it was on sale for a good price. We go through a lot of butter in a year, and always having it at half price probably saved enough to pay for the freezer by itself.

Only worry these days is the thought of another derecho rumbling through and being without power for too long. I do believe a chest freezer can hang on for up to 48 hours....our stand up style I wouldn't trust beyond 24.

 

[maclean]

I wouldn't use the freezer for bread. Takes up way to much space and you are not really saving much/empty calories.

it's more about having bread available when needed and i cant get fresh

 

[Stylizer1]

Having a freezer in the basement was one of the best investments I've made. It's a stand up fridge style, but holds a ton. And with so much space, you can load it up with pastries, butter and various other goodies.

Right now about half the stuff in it is meat, and a good number of frozen dinners and butter when it was on sale for a good price. We go through a lot of butter in a year, and always having it at half price probably saved enough to pay for the freezer by itself.

Only worry these days is the thought of another derecho rumbling through and being without power for too long. I do believe a chest freezer can hang on for up to 48 hours....our stand up style I wouldn't trust beyond 24.

That would definitely be my biggest fear. I was looking to buy a small freezer of the bar fridge size for a little more capacity.

 

[Micklebot]

Food doesn't take that long to make and when you do cook a double batch. If I'm going to make stew I'll cook 2 meals and freeze one. Just won't put potatoes in the one I'm going to freeze, add them for the next meal. Spaghetti sauce the same thing. If it's going to be a busy week Ill pull out a bag of drum sticks, a pork tenderloin, and a container of chili. Fire up the BBQ and cook the pork and the chicken at the same time and have the chili in between nights. Sausage on a bun with salad and Naan pizzas for the quick simple nights. 1 hour every Sunday can set your week up pretty easy.

Not having a car would suck and would limit your options.

It's certainly more cost efficient and time efficient if you can make big batches and store it all.

But yeah, a car is a big enabler for this type of stuff, lugging groceries hom on the bus sucks.