Discussion in 'Reality Check' started by Lex Lucas, May 29, 2017.
Anyone own or trade any?
Not me, but a guy I work with mines bitcoin. I've been trying to bring myself up to speed on it, but at this point I don't see a mainstream use for them. I wish there was a way I could short to market.
Ethereum seems better than bitcoin because its more than just a currency. It's is an application with many uses and has smart contracts, there are a few corporations backing it. I've been reading up on it and doing some trading over the last few weeks.
JP Morgan is on board with (quorum) Ethereum. One of my potential JV partners is heavy into crypto currency, I am trying to pick his brain. They took a massive jump in the last month.
What program are you using to trade?
Have Bitcoin. Am making huge gains. Going to buy Ether next. I think there are some major unknowns with these currencies but given the prediction of a $500k bitcoin by 2030 I will invest until I own one full coin and then just hold it for the long term.
I've tried a few different exchanges and found Quadriga to be fastest with best fees.
Huge upside potential, hence why I think it is worth the risk.
I read an article that said by 2027, 10% of the global GDP could be on blockchain.
what's it cost to buy a bitcoin now? 2K ?
About $3k CAD
obviously you can buy them pieces at a time?
How long did it take you to set up, after you sent in the ID for verification.
I did both. Equifax (was instant) and allowed me to start funding my account, but with a limit. ID verification took like 3 days I think.
I am not sure why but TD access cards with Visa and interact on them will not work, only allows for 13 digit card entry on their site. I used equifax as well, but did the other verification because the interact was limited to $200 a day.
I had the same issue with TD VISA debit cards. That is all TD issues for personal accounts and called to check that with them. I had to use a different account to transfer funds through
Ok, thanks for the heads up, I might just do a draft
I use Quadrigacx as well. I've only kept a little BTC in it at any time, and recently pulled it all back to a few hundred in profit. For a while my BTC was less than the purchase price, so it was good just to sit on.
I just bought 2k worth of Ethereum through Quadriga. It's going to be fun watching it over the next little bit, but the plan is to just sit on it for quite awhile.
Ugggh, SMH. I just went to see about picking up a bit of BTC. It's up to $3k a coin now. I jumped at 2/3rds that.
edit - Just looked, it was up to 4.1k CAD a coin earlier in the month. I guess I'll hold out until the next dip. It hit a low of 2.3 after that one.
It is extremely volatile. One of my business partners is a guru with this stuff, he moved a good chunk of his money from BTC to Ethereum. I have been hesitant to wire much to Quad, as the account seems a little sketch.
Very volatile, but makes for some fun making trades on dips. You should be moving your ether from the exchange and into a wallet for security
Anyone invested in Antshares/Neo? I sold all my ether and bought into it. It looks like it could have a lot of promise in the Chinese market.
That turned out to be a pretty decent decision
Just waiting on my wallet to arrive.
Yay, I took out my $1000 back out on Monday, and still have over 400 left CAD. Yeah, it's chump change, but $400 is $400. I'll hang on until I can turn that into $500 and then take it back out.
Why the fuck would you not leave it there for 10+ years?
Me? I just wanted a few quick bucks. Nearly double return was good enough for me. (Used 316, still have over 400 left, returned the initial 1000 to my bank account.) I have RRSPs, RSP and TFSA for my real planning. This was just wanting a quick few bucks for no work.
In all seriousness though, a little luck and a little research goes a long way with crypto. I'm up 400% over two months. $400 is $400, but unless you need it now, I'd leave it in and look to invest it in something.
I ended up needing it - my wife was on EI, and they told her that her claim would end mid-Oct. I told her, according to my math, her claim would end last week. I hate being right.
We're now down to one salary and I'm pulling in all my resources.
You made money and thats a great thing. Don't feel guilty about it!
Evolve Funds based out of Toronto is launching a Bitcoin ETF with indirect exposure to the cryptocurrency. That is more my style.
I think Horizon is looking to get involved too. The whole thing seems insanely volatile but I might grab a small piece of a crytocurrency ETF.
There are some interesting ICOs coming up. I find it funny that Jamie Dimon is chastising all things Crypto, and said anyone would be fired from JP Morgan.