Fair enough8-9% is not nearly enough to compensate me for the risk of this investment, i.e., unsecured creditor to a fintech.
It depends.Something I just don't get. If you can make 8% or even much more with crypto investments, where does that gain come from? Usually, when one investor gains, another one will lose unless they are investing in a company that increases its worth.
Maybe you should ask the people in Lebanon or Venezuela how gold can 20x vs their fiat or maybe the Afghans can explain it better. The vast majority of gold is stored in vaults and not turned into anything with intrinsic value. Rather it is secured at great expense. Its value is derived from supply and demand because it is finite and scarce unlike fiat.I cannot imagine gold increasing in value 20X in 12 months or less. Gold is also something you can buy and store. Or even make valuable products from. It has intrinsic value.
Again this thread wasn't about Bitcoin and I don't buy Bitcoin but I'll try. The reason is purely supply and demand. Like gold it is a store of value against inflation. However unlike gold, no military or government can take it with force or confiscate it. Also unlike gold it can be stored and transported in your mind.Why would I buy a Bitcoin? Just because many others are and the price is skyrocketing? I imagine there is a reason, but not something I can fathom.
How old is this prof friend? Transactions can be "mixed" but that only makes them slightly harder to trace.Even my economics professor friend doesn't get it and he has tried a lot harder than I have! He figures it is a tool for those who want their transactions to be untraceable!
I hear podcast ads for it a lot lately. I know Celsius, Voyager, Coinbase etc will all have debit/credit cards comingDo you have crypto credit card at all(mogo, crypto.com, blockfi)? I get 5% cashback and free netflix, spotify, amazon with the Visa Card from crypto.com
Marketing budget. Much cheaper than TV commercials for boomersWho pays for the promotions ?
Hmm they have some very interesting deals now and I didn't know it was in CanadaIt's available for Canadians .I got it. so far got the 3% cashback but upgrading soon to the 5% one.
The industry moves so fast it doesn't surprise me PhDs don't get it yetWell I'm young, and I'm a computer scientist, and I worked in cryptography. You're not the only one who doesn't "get it". A lot of this stuff doesn't make sense, even to experts like me.
Our people (not just me, but also PhDs at my last firm) all looked at this stuff, and we basically think it's a kind of convoluted shell game / scam. Lots of techno babble that superficially sounds impressive, but doesn't actually make sense.
A little town house with no yard or a condo with fees higher than rent costs 7 figures in Canada todayWhat I don't get is why would he teach(?) on this forum when he made 7 figures (or is making that as claimed) in the crypto-world? I'm still scratching my head over this.
We can see the evidence of intelligence and wisdom... well yeah, it's 2022 and I can't help that "investors" see them gold at the end of the RE rainbow.
... should I ask those wiser long time members if they made their 7 figures from stocks included cryto-currency?
... why wouldn't it be? What's the average wage in Canada these days? I don't suppose it's anywhere close to 6 figures, let alone 7 figures.
... I would hope so or your "fair" share of the taxes. But then marina628's/post 45 says otherwise.
That's crazy the CRA sent $200k back. They're probably just happy he filed like a good boyThen I became a buyer again at $10,000.My friend cashed out 1 million a couple years sent revenue Canada roughly $400,000 when he did his taxes ,a year later they sent him back almost $200,000 determined it was capital gains not basic income taxes so he bought a Lamborghini and cashed out more to cover it. In my own circle i know many who have thousands of coins ,even this month my business will be paid around $60,000 in bitcoin and I hate it because I much prefer to have a bank wire .I have no choice but deal in bitcoin but each time i get paid it is a gamble if I will get it out in time. I believe we will see $40,000 bitcoin again and for that reason I will sit on some coins for now
