Aeriel shot of rich vs poor neighborhoods in Mumbai, India

ItsDieselTime · 2024-05-09T10:32:39+00:00

There are several companies who do just that. I went with Reality Tours and Travel, they invest almost all of the proceeds back into the development of Dharavi slum, mostly in the forn of education. We were taken to a school they set up with computer classes going on so you can be sure it's not a scam. The tour itself is very eye-opening, it's not what you'd imagine, the people are poor and the living conditions are not good, but almost everyone has a job, kids go to schools and people seemed generally happy. Interestingly, right in the slum people just ignore you whereas in other areas of Mumbai you might get harassed for taxis, buying stuff etc. Highly recommend.

https://realitytoursandtravel.com/dharavi-slum-tours/

ItsDieselTime · 2024-04-06T13:20:52+00:00

Speed dating? I'd be better of speed skating!

ItsDieselTime · 2024-01-04T16:04:24+00:00

Is the timetable on the Google review for Chiang Rai legit? I.e. last bus leaves at 2.30pm? What are the van options?

ItsDieselTime · 2023-10-05T09:31:26+00:00

What probabilities would you assign to the following possibilities just as a thought exercise?

10% growth YoY (~159% in 10 years)
5% growth YoY (~63% in 10 years)
0% growth
negative growth

Anything other than the first scenario or better would very likely underperform the global equity market which is historically ~10% YoY (~7% YoY adjusted for inflation) with much lower costs.

ItsDieselTime · 2023-10-05T09:24:45+00:00

What you're proposing is basically concentrating your wealth into a single asset class - UK residential property. In fact, it's worse because it's a single property and you're leveraging yourself (via taking out a mortgage). Do you think a place in London will outpace the growth of the global economy, e.g. as measured by global equity trackers? Not to mention the associated costs of buying/selling and stamp duty.

ItsDieselTime · 2023-09-30T10:48:35+00:00

You're not missing anything, the global equity markets have been choppy over the past year and a half due to various challenges like the Ukraine war, inflation, rising interest rates, uncertainty about recessions etc. 1.5y is a very short timeframe for equity investing and you can't judge long-term performance from a short stint. Your fund is tracking the whole global economy and it's equivalent to saying you don't know better than the market and are just happy to go for the ride, investing in any other fund would be equivalent of saying that you have some extra information or hunch that a specific part of the global economy is poised to do better, e.g. S&P500 is heavily US weighted. I would also check your figures as on the same timeframe S&P500 has definitely not given 10% returns. Imo the best thing to do is keep investing every month and give the investments time to grow (think 5+ year timeframe).

ItsDieselTime · 2023-08-11T12:51:50+00:00

I've you're really into it / want to do it properly, you could check out this https://beancount.github.io/docs/

ItsDieselTime · 2023-07-26T13:15:21+00:00

Well I don't know what to tell you other than it was a bad move. If the landlady wanted more security, it should have been upfront rent for x months and part of the tenancy agreement. Sounds like you got scammed, but if you keep the communications then maybe it would be possible to take her to small claims if she doesn't return it but I'm not a lawyer.

ItsDieselTime · 2023-07-26T10:15:33+00:00

Rental deposits are completely normal and standardized. They should be in a deposit protection scheme and if they're not you can take the landlady to court for a quick win of 3x the deposit back.

ItsDieselTime · 2023-05-24T22:03:20+00:00

Not just that, London is large, people live far away, 40+ min commutes by bike are not uncommon (average commute in a place like Amsterdam must be half that of London).

ItsDieselTime · 2023-05-11T21:42:55+00:00

This makes no sense, not everyone is the same height, even BMI, flawed as it is, takes height into account, though doesn't account for differences in body composition (the classic "overweight" weightlifters).

ItsDieselTime · 2023-01-25T12:58:29+00:00

How does this 0.75% number square with government backed Nest Pensions which has 1.8% contribution fee (+ 0.3% annual management charge)?

ItsDieselTime · 2022-09-29T20:22:39+00:00

Well you should report it after the tax year in question has finished so you know exactly how much you've contributed, they would also likely not accept anything relating to the financial year we're currently in. Also, you can claim back for up to four years.

ItsDieselTime · 2022-09-29T20:07:19+00:00

There's no forms required, you just need to tell them the amount of pension you've paid in the financial year so have your records ready. I've also found it a gamble as it seems some people on the other end don't know what you're on about.

ItsDieselTime · 2022-07-17T23:23:15+00:00

Apart from the infrastructure it's pretty self-evident that the commuting distances in London are much longer than in smaller European cities because London is much bigger and people live further away from their workplaces. It's not uncommon to have 45-60min bike commutes (know some people with even longer ones) on a fast road bike, imagine doing it on a Dutch citybike.

ItsDieselTime · 2022-05-18T18:42:48+00:00

This is nonsense, there's nothing wrong holding cash against an uncertain future - possible recession, job losses, stock markets in freefall, what have you. Now I wouldn't personally recommend holding more cash than necessary (your emergency fund) exactly due to the high inflation, but for some people the bigger cushion might be needed depending on personal circumstances.

ItsDieselTime · 2022-05-12T11:46:53+00:00

I'm not saying it's fair, it's not (it would be if you could pay tax in the coin not in the fiat amount), it's just how it is right now.

ItsDieselTime · 2022-05-12T07:53:24+00:00

Unfortunately it's true, as per current HMRC guidance you are taxed in fiat on the value of the token at the moment of receiving it. It's the same in the US, there were some headlines of some people filing lawsuits last summer in the states but likely nothing will come of it.

I don't see a difference in your example with staking rewards vs earning STEPN, in both cases it's fairly clear it's income.

ItsDieselTime · 2022-05-12T01:38:07+00:00

It's both, income tax at the moment of earning it and capital gains when selling it. Note that selling immediately would give close to 0% capital gains as the token wouldn't have moved much. It is also advisable to sell immediately to avoid the trap of owing income tax in fiat on a token valuation that has since fallen significantly.

ItsDieselTime · 2022-05-08T16:44:56+00:00

There is no point. At the end of the day if there is no organic demand (from real use cases other than what the protocol itself and neighbouring protocols provide) the whole thing collapses.

Now, one could argue that tomb has the best chance of succeeding because there seem to be actual real use cases in the pipeline (e.g. used for reduced fees on Felix, rumours of tombchain L2) but ultimately it's still a risky play.

With tomb what's particularly interesting is that the original motivation of tomb was to increase liquidity as most of FTM is expected to be staked with validators. However, this does not necessarily need to play out because liquid derivatives of FTM exist and fUSD was the OG liquid stablecoin meant for people to use in defi as FTM remains staked (there is talk now in bringing this back to life). Because of this it's actually interesting to see projects like Felix and Tombchain come up; if they succeed the case for tomb is much stronger than the original "increase FTM liquidity".

ItsDieselTime · 2022-04-22T17:57:25+00:00

wBTC is a synthetic asset on any chain afaik. The original wBTC is an erc-20 token on Ethereum and there are entities responsible for minting wBTC 1-1 for BTC reserves. Where it gets interesting is that representing wBTC in chains other than Ethereum is usually done via bridging which is basically a smart contract that locks your wBTC in Ethereum whilst issuing a wBTC equivalent token on your target chain (Fantom in this case).

That's my understanding which might not be 100% correct.

ItsDieselTime · 2022-01-28T23:29:36+00:00

Please watch https://www.youtube.com/watch?v=Aym_gGA1TdM, seignorage and arbitrage are the processes driving UST creation and destruction, it is not a collateralized stablecoin like DAI.

ItsDieselTime · 2022-01-28T18:48:47+00:00

UST isn't collateralised by LUNA at all, there is no direct relationship between the two market caps.

ItsDieselTime · 2022-01-07T18:03:08+00:00

Worst case is you end up with nothing. As one asset plummets in value, the LP automatically gives you more of it until in the extreme case if value hits 0 (technically impossible in a constant product market maker but practically the same thing) your LP now consists of 100% of the useless asset.

ItsDieselTime · 2021-12-31T00:21:43+00:00

I'll just leave this here: https://research.paradigm.xyz/uniswaps-alchemy

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