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Discussion Starter · #1 ·
Noticed another steep drop this November.. definitely not something to invest in if you don't have the stomach! A friend recently bought himself a very nice toy after cashing in on 7xs his initial investment or thereabouts.

Do you think it'll rebound after this latest drop and what do you think the potential is for the next year or beyond?

Lastly, where do you buy your Bitcoin?
 

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Do you think it'll rebound after this latest drop and what do you think the potential is for the next year or beyond?

Lastly, where do you buy your Bitcoin?
Well nothing has really changed.. they're still printing fiat like it's going out of style and inflation is just getting started

Crypto.com is closing in on the top apps in the US and signed 20 year stadium naming rights, UFC, F1, and Matt Damon

Based on logarithmic regression bands it could hit $200k in a year and/or drop to $30k. $100k would be healthy based on the stock to flow

Beyond? It could become a world reserve currency and then 1 BTC is only 1 BTC

Where you buy depends on many things. Check out FTX or crypto.com
 

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Discussion Starter · #5 · (Edited)
Bitcoin "does" nothing, so I don't buy it, just like gold, or currency trading.
[/QUOTE]

It bought my friend a Harley! 😂😂😂

I lime to play poker... Bit I play within reason.. few hundred bucks every once in a bloom moon with my buddies... this would feel the same to me..If it could make a few thousands or several, that would be gravy!

What about Bitbuy? Buy Bitcoin Canada | Best Cryptocurrency Exchange
 

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You guys are all asking the wrong questions.
It's not about what Bitcoin does. It's about where the world is going.

Money printing is insane. Inflation is insane.
Think about the 3rd world countries that use BTC to protect their dollars. Same idea.

If you haven't noticed... Everything is becoming unreachable. Assets are insane.

Bitcoin is an answer to inflation and *** backwards monetary policy.

You think Gen Z cares about your 8% stock returns? Lol...
 
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What are your thoughts on Crypto ETFs - you can place these in your TFSAs...
BTCCb.TO I bought it in my tfsa and my unreg around $7 and added some at $8. then sold it in the $10-11 range. Will look again when it drops, too high for me right now. I like to get a piece out of the middle and not try and time the bottom and top.
 

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At the risk of ruffling some feathers... ;) The same exact topic came up in an investing group I'm part of. (We're mostly techies who used to work for FAANG in Seattle; I've moved on since then, both career-wise and geographically.)

I'll just share my reply here because the question was almost exactly the same. And hey, remember - we don't have to perfectly agree on this topic. ¯\(ツ)


"I'm an acolyte of Benjamin Graham and Warren Buffett, even though I got a bit corrupted along the way... (Made a bundle on meme stonks this year, and currently using my Roth IRA as cash cow for weekly covered calls. :p )

I view all investing as transferring your time-energy (colloquially referred to as "money") into something you can understand and use as the driver of value. I'm a part-owner of Boeing, and Disney, and several casinos. If I go to their HQs, I won't be able to pinpoint which specific light switch or waste basket has my name on it, but I know what my money represents.

I've tried, really and sincerely tried, for quite a while, to figure out what intrinsic value one Bitcoin (or Ethereum, or Dogecoin, etc) possesses, and I've still got nothing. If it represents the sum total of consumed electricity - well, there are more efficient ways to invest in that. ¯\(ツ)

I'll admit that I am very biased because I come from the value investing background, but in my (admittedly personal and biased and subjective) view, putting money in crypto is not investing - it's gambling, or playing hot potato, or waiting for someone else to come along and take it off your hands. At best, you might call yourself a speculator - but not an investor. On top of that, unless there are renewable energy sources involved, you can't be a crypto owner and pro-environment at the same time. (I know some don't care about that.)

So, long story short, I personally would not put any of my money into crypto. If I want to gamble, at least I'll get some company and a free beer at the local casino. :p "
 

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^^^ im old enough to remember value guys in the late 90s (Buffett included) saying Amazon was nothing more than a speculation and clearly overpriced because it was valued more than all the bookstores in the world put together. those guys had near a decade in the 2000s to celebrate how right they thought they were, but look at the scoreboard now. Ben Graham and Warren Buffett are heroes of mine too, but things change and there is no guarantee that any specific investing framework will work forever.
 

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Discussion Starter · #14 ·
" putting money in crypto is not investing - it's gambling, or playing"

I agree wholeheartedly.. and that's why I would do this for fun! I am not investing my children's RESPs with bitcoin!!

It'll replace the poker I missed last week!

And I agree - I do not understand what intrinsic value it has if any... it's still a bit of a mystery to me as to exact what the heck it is.
 

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You can buy Crypto on Wealthsimple. You can also buy ETFs through your discount brokerage. Banks and fund companies figured they might as well cash in on the action through MER fees.

IMO, crypto is the new generation gamblers game. Its absolutely nothing. The idea of it replacing FIAT sounds outstanding. But no government would ever allow it. Can it be used for something else? Sure. But no one is really looking at it in that manner.
 

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IMO, crypto is the new generation gamblers game. Its absolutely nothing. The idea of it replacing FIAT sounds outstanding. But no government would ever allow it. Can it be used for something else? Sure. But no one is really looking at it in that manner.
Several states and US cities are already adopting it. 3 mayors are getting paid in crypto. Several countries are already stacking and preparing to adopt it.

They all gotta fill their bags before the media lets you know though. Saying no one is looking at it for something else is hilarious. Come back to that statement in 5 years!

Do you know why facebook renamed itself meta? Do you know kids aren't using facebook anymore right? You know kids today much prefer digital junk over plastic junk right?

Your opinion is basically just ignorance to any change that is happening.
 

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I've tried, really and sincerely tried, for quite a while, to figure out what intrinsic value one Bitcoin (or Ethereum, or Dogecoin, etc) possesses, and I've still got nothing. If it represents the sum total of consumed electricity - well, there are more efficient ways to invest in that. ¯\(ツ)
There is intrinsic value in moving money across borders, and in criminal activity/money laundering, and in some cases, for failed economic states with currency collapses. There is not much else. People buy Bitcoin because it has gone up and because they think it will make them rich, or at least some money, or it's fun, or it's gambling. Gambling and speculation can make a lot of people rich, it's real money.

Bitcoin has several false narratives. Money printing is one. Money printing in developed countries is real, but it is not so real that it is causing assets to appreciate by 1000% and Bitcoin is becoming the world reserve currency. That is fantasy land. And while money supply is high, money supply relative to GDP is not that big a deal - the world continues to churn out $100 trillion of net new real economic value a year. That dwarfs all money printing. Doesn't mean some smaller countries can blow up - Bitcoin make make sense in Turkey or Lebanon (provided you can find power to conduct electronic transactions).

The second false narrative is fixed supply. This is the most ridiculous, because there are 10,000+ crypto currencies with almost zero cost to start a new one. Bitcoin itself could splinter at any time or change aspects of the network if enough miners decided it was in their best interest.

I'm always interested in making money, but I don't see any value here. If you think Bitcoin is going to make you rich, it might, but not because of money printing or fixed supply, it would because you are able to sell it to the next person who thinks it will go even higher.
 

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Several states and US cities are already adopting it. 3 mayors are getting paid in crypto. Several countries are already stacking and preparing to adopt it.

They all gotta fill their bags before the media lets you know though. Saying no one is looking at it for something else is hilarious. Come back to that statement in 5 years!

Do you know why facebook renamed itself meta? Do you know kids aren't using facebook anymore right? You know kids today much prefer digital junk over plastic junk right?

Your opinion is basically just ignorance to any change that is happening.
First, the mayors are not getting paid in crypto - they just wanted media attention by announcing their personal point of view. Its funny that they will need FIAT to buy their crypto though.

Nothing is impossible. But to say the governments will allow the decentralization of currency is somewhat crazy.
 

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I think the NSA created bitcoin to lure in criminals, and it worked very well.

They shut down Silk Road and put that guy in prison for life, intercepted bitcoin transfers among criminals and seized billions in crypto.

They recently announced they will be selling a big stash of bitcoins and the value of bitcoins dropped 20% as a result.

Notice when those hackers got the ransom in bitcoins......how quickly the US got it back.

They can track all the transactions and know a lot more than they are telling the public.

“In fiscal year 2019, we had about $700,000 worth of crypto seizures. In 2020, it was up to $137 million.

And so far in 2021, we’re at $1.2 billion,” Koopman told CNBC. The fiscal year ends Sept. 30.

As cybercrime picks up — and the haul of digital tokens along with it — government crypto coffers are expected to swell even further.

 
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