KFBR392 Posted July 7, 2015 Share Posted July 7, 2015 ... to add to that, if you have a chunk of cash that you're willing to lose, there's no harm in throwing it at bitcoins if that's what peaks your interest. Just don't put all your eggs in one basket. I've invested in several micro cap stocks and I've probably broken even on them as it stands right now. If I lose it all I really won't care very much since it only amounts to about 20% of the cash I'm playing with in that account. But if I double or triple my money I'll be laughing. Link to comment Share on other sites More sharing options...
drummer4now Posted July 7, 2015 Share Posted July 7, 2015 (edited) Nobody knows, obviously. It's very high risk, which you have already said... and it's a gamble, like any sort of high risk high reward investment. If you're willing to risk and quite possibly lose your investment with hopes of beating the odds - go for it. In my opinion, you're better off investing some cash into the oil/energy sector. While it may not have quite bottomed out completely yet, it will most likely rebound within the next 5 years or so. As long as your patient, it may be a safer bet in the medium term.. not to mention you'll probably collect some dividends in the meantime. IMO I can't see the oil/energy sector in Alberta being as prosperous as it once was before.. I understand the decline is cyclic as in it comes and goes, but if you look at many of the job reductions it was done to cut down on dead weight so to speak.. Also lets face it as long as that light sweet crude is still flowing in the Middle East we have a limited market.. For example in the oil patch, Many of the low skill jobs have been serviced to foreign nationals who work for a cheaper wage, then you have automation technology finally being implemented... Now there' also this talk of Canada entering a recession.. I would stay clear of Canadian oil/energy for now.. Edited July 7, 2015 by drummer4now Link to comment Share on other sites More sharing options...
SabreFan1 Posted July 7, 2015 Share Posted July 7, 2015 Don't invest in crypto-currencies like Bitcoin as a long term investment. In my opinion currencies like Bitcoins are best used for moving money as fast as possible. Just look at what some savvy Greeks are doing right now with Bitcoin in order to get around country wide withdrawal limits. 1 Link to comment Share on other sites More sharing options...
Offensive Threat Posted July 7, 2015 Share Posted July 7, 2015 So thought i would bump this up. Bitcoin seems to be going back up. Ive never paid attention until now to be honest. But im at that point in my life where i have a bunch of money saved, and im looking to start making moves. Im 25, im already tired of working after only 9 years. While i know my work life is far from over Im looking to start investing to make my money work for me, im exploring all avenues,ive never invested per say, at 25 i already own my own home, but im looking at making some serious moves, and this Bitcoin thing really keeps getting in my head, it is a SUPER high risk, but at the same time could be a really huge reward. Ive also looked into opening a business, and investing in real estate. But that seems so old fashioned, and lets be honest, we all want to be millionaires, with real estate its possible if you make the right moves. Opening a business in todays day and age (im talking a convinience store...) wont get you far very fast atleast. The internet in todays day and age seems to be the fastest avenue to becoming a millionaire. Do you guys who are knowledgeable in bitcoin really think it could take off at some point? Is this a ship worth climbing aboard? Or are there better options out there? Obviously im very new to the investing game, im researching as much as possible to make the wisest choice possible. Id recommend stocks to build your net worth. REITs or bonds if you are shy. Bitcoin only if you can easily afford to lose the money. If your only 25 $20K invested in a loser is money that would have been multiplying over and over and over again in a more conventional investment. $20k invested now in 30 years (when you turn 55) could easily be 750K to a million in the stock market. If the annual rate of return stays at its current average of 16% in 30 years that 20K will be 1.7 Million. Yeah stocks are boring and people want more pizzazz with investing but The Buffets and Gates' of the world know stocks are what makes bank. Bitcoin only shot up in value the first time due to manipulation by Chinese organized crime groups. This is very unlikely to happen again. Link to comment Share on other sites More sharing options...
CanuckGAME Posted July 7, 2015 Share Posted July 7, 2015 Id recommend stocks to build your net worth. REITs or bonds if you are shy. Bitcoin only if you can easily afford to lose the money. If your only 25 $20K invested in a loser is money that would have been multiplying over and over and over again in a more conventional investment. $20k invested now in 30 years (when you turn 55) could easily be 750K to a million in the stock market. If the annual rate of return stays at its current average of 16% in 30 years that 20K will be 1.7 Million. Yeah stocks are boring and people want more pizzazz with investing but The Buffets and Gates' of the world know stocks are what makes bank. Bitcoin only shot up in value the first time due to manipulation by Chinese organized crime groups. This is very unlikely to happen again. Getting into the stock market interests me as well, very much so, but the truth is i know absolutely nothing about it, and its very intimidating because i dont understand it at all. Do you know how one could get the knowledge needed to get into the stock market, and know what they are doing with their hard earned money? Link to comment Share on other sites More sharing options...
mdehaan Posted July 8, 2015 Share Posted July 8, 2015 Getting into the stock market interests me as well, very much so, but the truth is i know absolutely nothing about it, and its very intimidating because i dont understand it at all. Do you know how one could get the knowledge needed to get into the stock market, and know what they are doing with their hard earned money? First you need to learn what money is. Start with that. Dollars won't be around forever, that is a fact. 1 Link to comment Share on other sites More sharing options...
Grapefruits Posted July 9, 2015 Share Posted July 9, 2015 WOW, bitcoin is still alive. I was told it would be dead by now. 2 Link to comment Share on other sites More sharing options...
Lancaster Posted July 9, 2015 Share Posted July 9, 2015 Getting into the stock market interests me as well, very much so, but the truth is i know absolutely nothing about it, and its very intimidating because i dont understand it at all. Do you know how one could get the knowledge needed to get into the stock market, and know what they are doing with their hard earned money? One of the best way to start is to invest in stuff you know and believe in. If you're a big fan of eating at A&W, they have a income trust that pays out like 7% annually or something? There's also the Keg, Boston Pizza, etc. The big 5 banks are usually safe, but you can get preferred stocks if you're worried about fluctuation in prices.... pretty much you get paid a higher dividend, but your stock doesn't rise or fall much. Link to comment Share on other sites More sharing options...
nuckin_futz Posted July 9, 2015 Share Posted July 9, 2015 Getting into the stock market interests me as well, very much so, but the truth is i know absolutely nothing about it, and its very intimidating because i dont understand it at all. Do you know how one could get the knowledge needed to get into the stock market, and know what they are doing with their hard earned money? If you're an absolute newbie the best thing you can do is go get a book like "Investing for Dummies" (never mind the insulting title). It will go through the very basics. Explaining a bit about the economy, what stock is, what a dividend is, a little fundamental analysis like what a P/E ratio is, what a "stop loss" order is, how to read a basic price chart etc. There's a wealth of knowledge available on the internet too. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted July 10, 2015 Share Posted July 10, 2015 Id recommend stocks to build your net worth. Perhaps after a correction...and depending on the sector too. For example, your handle is an accurate description for a sector that has been "easy" gains given the geopolitical climate of the last few years... Bitcoin only shot up in value the first time due to manipulation by Chinese organized crime groups. This is very unlikely to happen again. Yes, you so conveniently forgot about Cyprus and what happened there 2 years ago... And are you also going to blame those groups for manipulating the Shanghai Composite Index as well? Link to comment Share on other sites More sharing options...
SabreFan1 Posted July 10, 2015 Share Posted July 10, 2015 WOW, bitcoin is still alive. I was told it would be dead by now. Personally, I thought it would be on it's dying gasps by now. It's proven to be pretty resilient. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted November 3, 2015 Share Posted November 3, 2015 Personally, I thought it would be on it's dying gasps by now. It's proven to be pretty resilient.Do you like apples? Link to comment Share on other sites More sharing options...
RoBko Posted November 3, 2015 Share Posted November 3, 2015 (edited) I wanted to respond this more clearly.USD is not backed up or guaranteed by anything more than consumer confidence, least of which anything physical. There is literally no one in the know who will claim otherwise. It is not secured by precious metals, land or equity. Much of it is in loans.create a store online shopping clothing electronics holidays daily deals Edited November 13, 2015 by RoBko 1 Link to comment Share on other sites More sharing options...
Robongo Posted November 3, 2015 Share Posted November 3, 2015 Great documentary recently released on Bitcoin. Interestingly , Bitcoin is up 20% since this was released lol 1 Link to comment Share on other sites More sharing options...
CanadianLoonie Posted November 4, 2015 Share Posted November 4, 2015 Bitcoin bears who were short got killed on an epic scale today... Link to comment Share on other sites More sharing options...
CanadianLoonie Posted November 4, 2015 Share Posted November 4, 2015 Link to comment Share on other sites More sharing options...
Offensive Threat Posted November 4, 2015 Share Posted November 4, 2015 So people in mainland China are using Bitcoin to move money out of China ( apparently to buy Vancouver property) by bypassing the controls Beijing has put in place to limit how much cash can flow out. By Chinese law the maximum amount that can usually be moved per person per day is the equivalent of $3200 US. Bitcoins being near impossible to track make it simple to bypass and the numbers doing it are driving its value through the roof. Well CanadianLoonie should be raking in the profits. 22% rise so far TODAY alone and the days only half over. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted November 4, 2015 Share Posted November 4, 2015 So people in mainland China are using Bitcoin to move money out of China ( apparently to buy Vancouver property) by bypassing the controls Beijing has put in place to limit how much cash can flow out. By Chinese law the maximum amount that can usually be moved per person per day is the equivalent of $3200 US. Bitcoins being near impossible to track make it simple to bypass and the numbers doing it are driving its value through the roof.As recently as 2 weeks ago, trade volumes from Chinese exchanges accounted for near 90% of all transactions worldwide...during the last 10 business days it has been the volume growth in US exchanges that have coincided with the surge in price, pulling the ratio of Chinese volume down to around...75%.That's 14:37 GMT...At 14:37 PST the rate has fallen back to the $380s US so the mini-parabolic move has run it's course...as long at the $310ish area holds as support then I am satisfied as the $300 US mark has been a strong resistance level for the past year. Link to comment Share on other sites More sharing options...
CanadianLoonie Posted November 7, 2015 Share Posted November 7, 2015 https://ybitcoin.com/articles/bitcoin-as-an-investment/ Link to comment Share on other sites More sharing options...
CanadianLoonie Posted November 11, 2015 Share Posted November 11, 2015 ...as long at the $310ish area holds as support then I am satisfied as the $300 US mark has been a strong resistance level for the past year.So it corrected back to re-test the $300 breakout level and it seems to be holding...so now would be a relatively low-risk entry point for those who want speculate on further upside appreciation... Link to comment Share on other sites More sharing options...
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