Crypto currencies 101.....for us neophytes.

[BILTIT]

...wonder what they were trying to hide?

 

[PJ440x]

Biggest thing to remember is crypto is a high risk investment. You could get some massive returns or you could loose it all.


If you think you're just gonna buy some cryptos and then be a billionaire a week later you're dreaming... .

I got burned with the High Risk part and it still pisses me off. I put 53K into a Canadian Exchange in 2018 called QuadrigaCx (Look it up). The owner of the site cleaned out the entire exchange and disappeared where he later died in India??? The site shut down and I have no access to the BTC and ETH I owned. The RCMP is investigating and lawyers are now involved which I'm NOT expecting to see a dime. The hardest part is seeing what that 53K is worth today. It's not just the kick in the Balls of losing $53,000 but it's the 10x what it's worth today. I also can't even claim capital losses at this point because its impossible to get any documentation to prove where it was and what happened to it......FACK

 

[lilduke]

My new NFT collection is now for sale.

Good investment, cant loose.



https://opensea.io/assets/matic/0x2...110560586079744016954213816413886824442757220

 

[Med1ogre]

Alien is by far your best work.. so underrated

 

[lilduke]

Alien is by far your best work.. so underrated

Thats a limited edition. Only 10 copies minted. Get it before inflation does! Haha

 

[rknight111]

Nice alien drawings Dan, lol reminds me of this..

​

 

[lilduke]

Nice alien drawings Dan, lol reminds me of this..

​

If you wanted one you dont even have to buy it. You could just copy and paste it.


Thats the beauty of NFTs lol

 

[HotShotHarry]

Coin-xt. I had an account manager call me today to try snd get me to open an account. They want me to open an account with a $250 deposit to get things started. I am very sceptical about the whole thing. Anyone on here have any experience with this company?

 

[2kDoo]

I hear the "cost to mine" 1 bitcoin is 7500 in regards to energy, that is the floor perhaps ?>
Debating so hard do I buy 20 ounces of gold or 1 bitcoin

 

[Med1ogre]

Coin-xt. I had an account manager call me today to try snd get me to open an account. They want me to open an account with a $250 deposit to get things started. I am very sceptical about the whole thing. Anyone on here have any experience with this company?

Run away. Its a scam.
You can manage your own funds for free.

 

[Med1ogre]

I hear the "cost to mine" 1 bitcoin is 7500 in regards to energy, that is the floor perhaps ?>
Debating so hard do I buy 20 ounces of gold or 1 bitcoin

I am super bullish on imaginary money.
The next bullrun im betting Bitcoin will hit new all time highs again.
Gold is a sure thing though.
What are capital gains on gold? Are there any? Never looked into it

 

[Med1ogre]

Run away. Its a scam.
You can manage your own funds for free.

And just to add to that, they'll take your 250 and then show you profit and gain your trust.. get more money from you and show you more profits because they're super awesome.
They'll just keep bleeding you
Then when you try and take profit the problems begin.. and it's too late

 

[2kDoo]

I am super bullish on imaginary money.
The next bullrun im betting Bitcoin will hit new all time highs again.
Gold is a sure thing though.
What are capital gains on gold? Are there any? Never looked into it

I kind of feel same way, except a very very good friend of mine turned 7k into 120k last year and had to live off it. Not sure what coins he bought, I can either put blind faith in him with 20k or buy 20k in gold...
Only reason why I am even considering gold is because TD charges spot plus 20%. Next month me and old man are going to Yukon and I figure I can buy it there instead with 0% markup.

 

[BILTIT]

Gold/silver is always safer than any digital "currency". Physical assets are always the way to go.

 

[HotShotHarry]

And just to add to that, they'll take your 250 and then show you profit and gain your trust.. get more money from you and show you more profits because they're super awesome.
They'll just keep bleeding you
Then when you try and take profit the problems begin.. and it's too late

That is what I suspected they would try and do…although it’s tempting to just leave the initial $250 in and see what happens…

 

[Med1ogre]

Well I've thrown 250 away on worse things, this one time in Nordegg..

 

[HotShotHarry]

Aint that the truth…. Not sure we want to hear about that one time in Nordeg though. Lol

 

[snopro]

All the Conservative leadership hopefuls are lambasting Pollievre because he recommends Bitcoin. Will it come back? It has tanked recently hasn't it? Whats its long time history in recovering?

 

[ferniesnow]

All the Conservative leadership hopefuls are lambasting Pollievre because he recommends Bitcoin. Will it come back? It has tanked recently hasn't it? Whats its long time history in recovering?

Have any of the Crypto’s got a long term history?
It has been quite volatile of late and BitCoin and Ethereum (the two I am a little bit familiar with) are great buys right now if one thinks they will reach the high of a year ago.
A month ago if one bought Ether, it has gone up 25% more or less. Not too bad of a gain.

 

[mclean]

Pm me if you want to get some more for a better "bulk" price. I'd be interested in buying some raw gold too

I kind of feel same way, except a very very good friend of mine turned 7k into 120k last year and had to live off it. Not sure what coins he bought, I can either put blind faith in him with 20k or buy 20k in gold...
Only reason why I am even considering gold is because TD charges spot plus 20%. Next month me and old man are going to Yukon and I figure I can buy it there instead with 0% markup.