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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
A new service to try is Coincurve.com, which is Vancouver-based and a non-custodial wallet service for smaller amounts. Safer way to invest in Bitcoins as they do not hold your coins.
Just took a quick look and the rates aren't as good as Shakepay. 1.6% difference. That said, the more options the better.
Can't really beat shakepay though. Etransfer in, btc out.
Saw this on facebook. Mom spends 15k on bitcoin machine but does not know how to hook it up so the daughter is selling it for 2k. Did a bit of research and you will be losing about a grand a year if you plug it in.
Monero is switching to CPU only mining in October. Thinking about building a CPU mining rig. The AMD 3900x seems to be the cpu to get but it's out of stock. Good time for someone who already has a higher end computer to get into mining.
Saw this on facebook. Mom spends 15k on bitcoin machine but does not know how to hook it up so the daughter is selling it for 2k. Did a bit of research and you will be losing about a grand a year if you plug it in.
Yeah, as if that story is believable.. but who knows, there's a sucker born every minute.
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So my 78 year old father in law wants to purchase a bitcoin and I’ve been put in charge. What’s the best/safest place to purchase and secondly the best way to store (long term).
A lot of people use https://shakepay.co/ to buy bitcoin. https://www.kraken.com is another option and you can fund your account via Canada post, I think the max is $1000 at a time. You can use Bitcoin ATM's but the amount you can but at one time is limited. How much do you want to buy?
__________________ Until the lions have their own historians, the history of the hunt will always glorify the hunter.
He wants 1 but coin. So about 11k worth I suppose.
First I would start with getting a software wallet. I use Jaxx liberty it's free and available on Android and IOS. I also use Blockfolio to keep track of current prices.
__________________ Until the lions have their own historians, the history of the hunt will always glorify the hunter.
I’m assuming a hardware wallet would be more safe long term? As in you have the actual “data” on hand?
That's the idea. As long as the password and device are secure, it will be more secure. It's not 100% necessary - your wallet could literally be a phrase written on a piece of paper
As China enters a recession and possible total economic and political collapse, buying Bitcoin now at 10K may end up seeming like pennies 10-20 years from now. I doubt we'll ever see it this low again
As China enters a recession and possible total economic and political collapse, buying Bitcoin now at 10K may end up seeming like pennies 10-20 years from now. I doubt we'll ever see it this low again
Yup good chance to buy more! Come back in 10-20 years like I said
Too many dipshit investors bought into bitcoin, so when they shit themselves panicking for no reason, it affects this currency as well
I swear speculators and investors are the dumbest people
Wow dude that’s a loaded statement. For all the /bitcoins folks that advocate btc as a stable “asset” during financial crisis. Well this is first real financial crisis that bitcoin has seen and it’s being absolutely murder.
The smartest people in the bitcoin game ARE the investor and the speculator it seem. Those that have cash out at 19k. And those that continue to swing trade.
The next smartest people in the bitcoin game are the ones that use the freakin thing like the currency it is suppose to be. Which mean no holding convert as needed.
Not saying bitcoin will go to zero but buy and hold only work if for something that you are expecting to appreciate. IMO the dipshit mentality of JUST HODL TILL LAMBO is what is going got o ensure btc never hits its ATH again.
Wow dude that’s a loaded statement. For all the /bitcoins folks that advocate btc as a stable “asset” during financial crisis. Well this is first real financial crisis that bitcoin has seen and it’s being absolutely murder.
The smartest people in the bitcoin game ARE the investor and the speculator it seem. Those that have cash out at 19k. And those that continue to swing trade.
The next smartest people in the bitcoin game are the ones that use the freakin thing like the currency it is suppose to be. Which mean no holding convert as needed.
Not saying bitcoin will go to zero but buy and hold only work if for something that you are expecting to appreciate. IMO the dipshit mentality of JUST HODL TILL LAMBO is what is going got o ensure btc never hits its ATH again.
I agree with all that you said, especially using it like a currency. Unfortunately that's hard to do when it fluctuates so much. I've been wanting to make a purchase in the last week, but have been holding off since it keeps going down in value. People who spend with bitcoin basically have to treat the market like they are investor - you can only spend it when the value is high. That's why I only buy a bit at a time, usually enough to cover a purchase and a bit more. I'll never be a "bitcoin millionaire". Because 1) I don't care about being rich and 2) I want it to work, so I spend my bitcoin.
I am actually somewhat surprised that it's going down with the markets. It shows that a lot of the people who invested into it don't believe in it at all, they are just greedy investors looking for new ways to make more money without contributing to society.
Another bump in the road and lesson for the emerging currency
The stock market crash we are seeing if quite unprecedented and probably will be talk about in history books.
People are getting margin called left and right. In a situation like this speculative asset are the first to go. Even gold is dropping. The speed with which bitcoin is crashing is just reflective of how speculative it is to begin with.
You are using it in a HODL till appreciate mentality. If you don’t intend for btc to increase in value. You would of just converted the amount you need trade and convert back to fiat. I have dont that many times and I have no lost any money by actually using bitcoin.
My point being people have made loads of money when bitcoin does it massive swing up and massive swing down. Those that consistent lose money with bitcoin are the one that hold hold hold and never let go.
The stock market crash we are seeing if quite unprecedented and probably will be talk about in history books.
People are getting margin called left and right. In a situation like this speculative asset are the first to go. Even gold is dropping. The speed with which bitcoin is crashing is just reflective of how speculative it is to begin with.
You are using it in a HODL till appreciate mentality. If you don’t intend for btc to increase in value. You would of just converted the amount you need trade and convert back to fiat. I have dont that many times and I have no lost any money by actually using bitcoin.
My point being people have made loads of money when bitcoin does it massive swing up and massive swing down. Those that consistent lose money with bitcoin are the one that hold hold hold and never let go.
I don't hold, I do what you do. I'm not an investor, I believe in the currency.
It's harder to do now with banks shutting down a lot of the easier ways to buy and sell into fiat.
I agree with all that you said, especially using it like a currency. Unfortunately that's hard to do when it fluctuates so much.
This is exactly why Bitcoin is useless. It's so volatile because it's based on nothing. It's a completely groundless and speculative investment. As threezero stated the first assets to go in times of need are the speculative ones and Bitcoin is being absolutely destroyed. Blue chip stocks are down 15-20-30% over the last week and they're based on multi-million dollar corporations. Today, Bitcoin is an absolutely useless asset and is being dumped. I wouldn't be surprised to see it go to essentially 0. It was $9100 USD a coin five days ago and today alone is down 42% to $3900 and still falling.
Sorry to say Skinny, but you're taking the position of Bear Stearns on this one. I think this crash proves the value of cryptocurrency: 0. No one will be talking about Bitcoin in 10-20 years. I hope you're not losing your socks.
EDIT - As I posted that, it has shot back up to $5100. Swings like that are just stupid for investors. Likely a dead cat bounce as circuit breakers are going in Asian markets. Tomorrow will be another bloodbath in the markets.
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