Jump to content
The Official Site of the Vancouver Canucks
Canucks Community

The Everything Bitcoin Thread


Recommended Posts

10 minutes ago, GLASSJAW said:

can't believe the level of panic selling and FUD bullsh-t going on the last few days. i wish i had more money to spend, because i would be buying up eth and a few sh-tcoins like absolute mad right now. even bitcoin itself is taking a hit

 

anyone who thinks the jig is up for cyrpto is a total moron. NOTHING has changed in the foundation for these coins. eth has had a few problems over the last couple of weeks (clogged orders, gas limits), but all of this stuff is, or will be, worked on asap. all of the foundations are still there. all the news and corporate and global interest is GROWING

 

but nope. weak handed normies hand all their money to garbage ICOs, lose profit, and start spreading panic. unbelievable.

 

i bet if new ETH buyers didn't give the weak ICOs all their millions of tokens then ETH would be sitting at $600 right now

It happens on the Dow Jones Industrial all of the time.  There's serious profit to be made when others suddenly panic sell.

 

*edit* Fricken phone auto corrected Dow into Down.

Edited by SabreFan1
  • Upvote 1
Link to comment
Share on other sites

5 minutes ago, SabreFan1 said:

The fees depend on who you use to broker your deals.

 

Thousands of people had sell orders trigger right after someone dumped millions worth of eth on one of the sites.  A whole lot of people lost thousands of dollars because their sell orders didn't get through until the price had plummeted.  Anybody who had buy orders in at ridiculously low prices made an absolute killing once the market rebounded that day.

are the fees with buying and selling crypto higher then stocks?

Link to comment
Share on other sites

2 minutes ago, HI5 said:

Where can one get into bitcoins? Ive got a lump sump of cash coming in and looking for some places to park my funds. 

 

Can bitcoins be purchased through any Canadian bank? 

Use an online Bitcoin Exchange.

Link to comment
Share on other sites

panic selling jelly hands will be crying FOMO again soon.

 

http://www.investopedia.com/news/imf-blockchain-banks-invest-cryptocurrency-blockchain/

 

Quote

A June 2017 staff discussion note from the International Monetary Fund (IMF) suggests that banks should consider investing in cryptocurrencies more seriously than they have in the past. According to the IMF staff team responsible for the note, including prominent economists such as Dong He, Ross Leckow, and Vikram Haksar, "rapid advances in digital technology are transforming the financial services landscape." These members of the IMF feel that such transformations generate new opportunities for consumers as well as service providers and regulators. The ultimate message of the report seems to be one of support for cryptocurrencies, as it outlines some of the ways that the fintech industry might be able to provide solutions for consumers related to trust, security, financial services, and privacy in this area.

 

Link to comment
Share on other sites

i went from total panic yesterday and two days ago to having a big smile on my face. just put a few hundred into a few sh-tcoins that i think will make some serious moves in the next month or two. now that they're at, or near, all time lows it's pretty difficult to lose money on them.

 

once the money comes back into crypto, AS IT ALWAYS DOES, and FOMO idiots start putting their money into these coins as announcements, betas, etc. are announced, i will cash out and buy more btc/eth

 

for as volatile as crypto is, PEOPLE are predictable

 

unless i'm wrong, in which case i probably just lost $600

  • Upvote 1
Link to comment
Share on other sites

39 minutes ago, TheHitman said:

Do you guys use Kraken often? Wondering which websites are best for Canadian currency?

I don't use the glow in the dark, maple syrup smell, funny money with pictures of your UK overlord on them so I can't help you there. ::D

Link to comment
Share on other sites

42 minutes ago, TheHitman said:

Do you guys use Kraken often? Wondering which websites are best for Canadian currency?

i've heard a lot of mixed things about kraken

 

i just use quadriga, coinbase (small purchases of ether), quickbt (small purchases of bitcoin). and then i use the admittedly terrible poloniex for small market trades (no CAD)

Link to comment
Share on other sites

Just in case some are bit of a newbie in regards to bitcoins and how to invest (store money) in them.... there is the possibility to invest via GBTC (Bitcoin Investment Trust) on the OTC.  It is priced in USD.... so if you're Canadian, there will be some currency fluctuations in regards changing from CAD to USD to BTC. 

The advantage.... if you have an investment account and have the option to trade in the OTC, you can just buy it like any other stock.  Of course... there is the possibility you may need to pay capital gains.... or you can just stash it away in your TFSA or RRSP. 

Link to comment
Share on other sites

2 hours ago, Lancaster said:

Just in case some are bit of a newbie in regards to bitcoins and how to invest (store money) in them.... there is the possibility to invest via GBTC (Bitcoin Investment Trust) on the OTC.  It is priced in USD.... so if you're Canadian, there will be some currency fluctuations in regards changing from CAD to USD to BTC. 

The advantage.... if you have an investment account and have the option to trade in the OTC, you can just buy it like any other stock.  Of course... there is the possibility you may need to pay capital gains.... or you can just stash it away in your TFSA or RRSP. 

To do this, do you just need to open up a trading account with your bank and use their specific platform?

I assume trading with banks may have higher fees

 

Link to comment
Share on other sites

On 6/26/2017 at 3:32 PM, GLASSJAW said:

i've heard a lot of mixed things about kraken

 

i just use quadriga, coinbase (small purchases of ether), quickbt (small purchases of bitcoin). and then i use the admittedly terrible poloniex for small market trades (no CAD)

 

Did it take you a while to register for quadriga?

My verification has been going on for a week

Link to comment
Share on other sites

2 hours ago, themcdeal said:

To do this, do you just need to open up a trading account with your bank and use their specific platform?

I assume trading with banks may have higher fees

 

There are trading accounts with relatively lower fees like Interaction Brokers or iTrade.  Sometimes your bank may give lower commission costs... but usually you gotta have like 6 figures in your accounts first or XX amount of trades per quarter. 

Link to comment
Share on other sites

5 hours ago, themcdeal said:

 

Did it take you a while to register for quadriga?

My verification has been going on for a week

i don't use quadriga to buy, i just used to used it as an online 'wallet'; while i waited for my hard wallet (ledger)

 

i've heard it takes a very long time for some of these sites now--like a month, maybe more. majorly backed up.

 

 

 

Link to comment
Share on other sites

On 7/3/2017 at 5:50 PM, Lancaster said:

Just in case some are bit of a newbie in regards to bitcoins and how to invest (store money) in them.... there is the possibility to invest via GBTC (Bitcoin Investment Trust) on the OTC.  It is priced in USD.... so if you're Canadian, there will be some currency fluctuations in regards changing from CAD to USD to BTC. 

The advantage.... if you have an investment account and have the option to trade in the OTC, you can just buy it like any other stock.  Of course... there is the possibility you may need to pay capital gains.... or you can just stash it away in your TFSA or RRSP. 

The OTC is the worst exchange in the world and should be avoided at all costs. There are virtually no rules on this exchange. No investor protections. It's common place to have your orders traded through and filled/reported whenever they feel like it. If someone is dumb enough to send a marketable order to this exchange it will be filled at a ridiculous price. There is a reason this exchange is completely unregulated.

 

Another problem with GBTC is most of the trading in Bitcoin takes place in China during Asian and European business hours. GBTC will only trade for 6 1/2 hours a day during North American business hours. It will just gap up or down to reflect where price went in Asia and Europe. Plus the volume on GBTC is peanuts, some days it's zero shares traded. Which reflects a lack of market makers which is a little odd since the arbitrage opportunities between the coins and shares of GBTC must be huge at times.

 

If one is looking to invest via this product (GBTC) it's less of an issue but you'd have to be crazy/allergic to money,  to attempt to actively trade it.

 

This is not meant to be negative towards Bitcoin. Just a warning about the worst exchange in the world.

Link to comment
Share on other sites

7 hours ago, nuckin_futz said:

The OTC is the worst exchange in the world and should be avoided at all costs. There are virtually no rules on this exchange. No investor protections. It's common place to have your orders traded through and filled/reported whenever they feel like it. If someone is dumb enough to send a marketable order to this exchange it will be filled at a ridiculous price. There is a reason this exchange is completely unregulated.

 

Another problem with GBTC is most of the trading in Bitcoin takes place in China during Asian and European business hours. GBTC will only trade for 6 1/2 hours a day during North American business hours. It will just gap up or down to reflect where price went in Asia and Europe. Plus the volume on GBTC is peanuts, some days it's zero shares traded. Which reflects a lack of market makers which is a little odd since the arbitrage opportunities between the coins and shares of GBTC must be huge at times.

 

If one is looking to invest via this product (GBTC) it's less of an issue but you'd have to be crazy/allergic to money,  to attempt to actively trade it.

 

This is not meant to be negative towards Bitcoin. Just a warning about the worst exchange in the world.

That goes without saying.  Every investor needs to do his/her own due diligence.  

 

I was just offering the GBTC option for those who may be less savvy with the whole bitcoin scene (myself included) and are hoping to just have bitcoins as a storage vehicle/long-term investment rather than as a instrument to be day traded.  

 

For the trading types.... don't use the GBTC.  

 

Link to comment
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...