Anyone looking to cash in on BitCoin and other cryptocurrencies

[Barry Morewood]

Having lost the small amount of BitCoin that I held in my Quadriga account and hearing predictions of Bitcoin making huge gains in the upcoming months, I am a little apprehensive about investing but at the same time I don't want to miss out.   Is anyone else currently invested or on the fence? 

[Rosconow]

You used the wrong word for bitcoin; investing. Bitcoin is an extreme spec play. Good as a medium of exchange, that's about it. 

Sure you can make money off it, but you can loose it just as fast.

[biglove]

If you like to gamble all good , way to risky for me to even use it at this point .

[StraightSideways]

Predictions and Speculations about the dips and dives of bitcoin always seem like they are based on guesses. Very rarely do I ever see any predictions on bitcoin that actually seem to be backed by any sort of decent evidence. 

I do believe the future will be very crypto-based, however I highly doubt it will be with bitcoin. It's track record is just too rocky and volatile for me personally to see it is a viable investment. 

I bought bitcoin at 600 CAD and sold at about 10k and never got back in. 

 

[Rosconow]

You guys know if there are candlestick charts for open range breakout on btc? That's the only way you could really trade it.

[3ml]

On 4/23/2019 at 9:46 PM, Rosconow said:

You guys know if there are candlestick charts for open range breakout on btc? That's the only way you could really trade it.

Use TradingView 

[3ml]

On 4/22/2019 at 12:18 PM, Barry Morewood said:

Having lost the small amount of BitCoin that I held in my Quadriga account and hearing predictions of Bitcoin making huge gains in the upcoming months, I am a little apprehensive about investing but at the same time I don't want to miss out.   Is anyone else currently invested or on the fence? 

Over the last 6-8 months I bought and bought and bought and bought

[instagrande]

I've got Bitcoin that's lost forever in the chain. I was foaming at the mouth when prices topped at $16k USD a few years back... Dam. 

But because it's so easy to lose coin in the chain and there's no chance of getting it back, there's just too much risk to look at Bitcoin as an "investment." Great tech to make anonymous purchases, though. Silk Road was awesome when it was running.

Better to invest in Ethereum as there's practical uses to the coin and it's more secure, cheaper, faster. 

[3ml]

On 5/14/2019 at 11:45 AM, instagrande said:

I've got Bitcoin that's lost forever in the chain. I was foaming at the mouth when prices topped at $16k USD a few years back... Dam. 

But because it's so easy to lose coin in the chain and there's no chance of getting it back, there's just too much risk to look at Bitcoin as an "investment." Great tech to make anonymous purchases, though. Silk Road was awesome when it was running.

Better to invest in Ethereum as there's practical uses to the coin and it's more secure, cheaper, faster. 

How is that possible?

[Blitz]

Crypto is one of the riskiest investments. It also does not pay interest or dividends so there is nothing to cushion the fall. Only buy what you are willing to lose because there is a good chance you do.

[instagrande]

3 hours ago, 3ml said:

How is that possible?

I sent the coin at slightly below the average fee rate and I guess no miner wanted to mine my coins because the fee was too low for them. I don't have the $$$ to double-spend and knock that coin out of the chain lol

[3ml]

20 hours ago, instagrande said:

I sent the coin at slightly below the average fee rate and I guess no miner wanted to mine my coins because the fee was too low for them. I don't have the $$$ to double-spend and knock that coin out of the chain lol

Was this with bitcoin or etherereum

 

if this is the case though it’s not the coins fault it’s your own

[3ml]

On 5/14/2019 at 11:45 AM, instagrande said:

I've got Bitcoin that's lost forever in the chain. I was foaming at the mouth when prices topped at $16k USD a few years back... Dam. 

But because it's so easy to lose coin in the chain and there's no chance of getting it back, there's just too much risk to look at Bitcoin as an "investment." Great tech to make anonymous purchases, though. Silk Road was awesome when it was running.

Better to invest in Ethereum as there's practical uses to the coin and it's more secure, cheaper, faster. 

It’s not exactly easy to lose coins in the chain as you say.  I’ve probably done well over 1000 transactions with bitcoin over the years and never ever once had an issue

[3ml]

23 hours ago, Blitz said:

Crypto is one of the riskiest investments. It also does not pay interest or dividends so there is nothing to cushion the fall. Only buy what you are willing to lose because there is a good chance you do.

Step back and think about what you are saying for a second though

over time look at the growth of bitcoin.  Yes there is massive price swings.  If you are patient it’s historically paid off.

 

I prefer crypto over stocks any day personally.  Most Dividends are pretty small.  

Its also hard to find a decent rate of return interest wise on whatever bullshit investment your banker is trying to sell you.

Dont get me wrong there is risk to it most definitely.  It’s about timing, patience, market psychology 

[Blitz]

15 hours ago, 3ml said:

Step back and think about what you are saying for a second though

over time look at the growth of bitcoin.  Yes there is massive price swings.  If you are patient it’s historically paid off.

 

I prefer crypto over stocks any day personally.  Most Dividends are pretty small.  

Its also hard to find a decent rate of return interest wise on whatever bullshit investment your banker is trying to sell you.

Dont get me wrong there is risk to it most definitely.  It’s about timing, patience, market psychology 

What did I say that was incorrect? Most crypto investors have lost money and that's not even taking into account the money that has just disappeared due to hacks or whatever.

Step back and think about what you just said. Bitcoin has "historically" paid off? Lol it's only been around for ten years, eight of those years it didn't make anyone any real sum of money and one of those years it tanked. If you look at Bitcoin over time it's not great, if it look at it over a single year it looked great. Bitcoin hasn't seen a recession. People drop stocks in the midst secure institutions during recessions what do you think they'll do to crypto.

Dividends are not small, in REIT you can often get 5%+ not uncommon to see 10% and that's not even taking into consideration growth. Even Canada's banks pay 3-5%.

It's not hard to find a decent rate of return... Most mutual funds pay 8% in compounding interest. Some of the best pay 10-12% or higher. Buy an index fund and you'll see 6-8% almost guaranteed.

If you had $10,000 right now and your key as you said is patience, you could a fund of Canadian bank stocks and in 15 years have easily $50k+ if you had a DRIP. Bitcoin might increase value by 500% but it probably won't. Even if it does you need to sell it to realize any gains, which most don't at the peak. With the bank fund you are getting paid interest and dividends, you could sell or you could simply stop reinvesting and withdraw the profits. RBC and TD haven't stopped increasing their dividends since I've been alive probably my parents too. That's historical.

Edited May 19, 2019 by Blitz

[3ml]

On 5/18/2019 at 8:58 PM, Blitz said:

What did I say that was incorrect? Most crypto investors have lost money and that's not even taking into account the money that has just disappeared due to hacks or whatever.

Step back and think about what you just said. Bitcoin has "historically" paid off? Lol it's only been around for ten years, eight of those years it didn't make anyone any real sum of money and one of those years it tanked. If you look at Bitcoin over time it's not great, if it look at it over a single year it looked great. Bitcoin hasn't seen a recession. People drop stocks in the midst secure institutions during recessions what do you think they'll do to crypto.

Dividends are not small, in REIT you can often get 5%+ not uncommon to see 10% and that's not even taking into consideration growth. Even Canada's banks pay 3-5%.

It's not hard to find a decent rate of return... Most mutual funds pay 8% in compounding interest. Some of the best pay 10-12% or higher. Buy an index fund and you'll see 6-8% almost guaranteed.

If you had $10,000 right now and your key as you said is patience, you could a fund of Canadian bank stocks and in 15 years have easily $50k+ if you had a DRIP. Bitcoin might increase value by 500% but it probably won't. Even if it does you need to sell it to realize any gains, which most don't at the peak. With the bank fund you are getting paid interest and dividends, you could sell or you could simply stop reinvesting and withdraw the profits. RBC and TD haven't stopped increasing their dividends since I've been alive probably my parents too. That's historical.

Looks like a solid investment to me

Its not bitcoins fault if you don’t have a strategy for taking profits

[Blitz]

11 hours ago, 3ml said:

Looks like a solid investment to me

Its not bitcoins fault if you don’t have a strategy for taking profits

Lol okay.

[Afflicted]

9 hours ago, Blitz said:

Lol okay.

So you sit there and preach your slow lane mentality bullshit on how to make bank, which by the way is your typical blue pill, system indoctrinated thinking, then you respond to historical charts saying LOL ok, man you really sold me on your method of mayhem. I guarantee you're one of those guys that preaches this and yet is in massive debt, works for the system and has no real retirement. I learnt a long time ago not to take financial advice from poor people.

Here's a history lesson for you, buy btc in dec 2015 for cheap, sell in 2017 at peak, buy back again in dec 2018, see where I'm going with this? Probably not, but sure theres no fucking interest, just a fuck ton of profit, no big deal right. 

You seem like one of those buy one vial at a time type of guys, but to quote a genius "lol, okay"!

Edited May 23, 2019 by Afflicted

[3ml]

Learn to ride the waves 

or

Just hold

 

 

[Blitz]

On 5/23/2019 at 2:51 PM, Afflicted said:

So you sit there and preach your slow lane mentality bullshit on how to make bank, which by the way is your typical blue pill, system indoctrinated thinking, then you respond to historical charts saying LOL ok, man you really sold me on your method of mayhem. I guarantee you're one of those guys that preaches this and yet is in massive debt, works for the system and has no real retirement. I learnt a long time ago not to take financial advice from poor people.

Here's a history lesson for you, buy btc in dec 2015 for cheap, sell in 2017 at peak, buy back again in dec 2018, see where I'm going with this? Probably not, but sure theres no fucking interest, just a fuck ton of profit, no big deal right. 

You seem like one of those buy one vial at a time type of guys, but to quote a genius "lol, okay"!

You're fucked, you think because I said btc is one of the riskiest investments I'm just blindly against it. I own crypto, I invest in mutual funds, index funds, stocks and real estate. I'm 29 years old with a six figure salary, no debt outside of my mortgage; I have more than 60% equity in my primary residence in the GTA. I think I'm doing quite well.  I'm just smart enough to know the money I put into crypto could disappear over night. The fact that you're so upset about someone's justified opinion shows your lack of intelligence and abundance of emotion. You should get your estrogen checked.

Also any idiot can say if you bought here and sold there you'd be rich. You actually have to do it. I bought the bulk of my Bitcoin at $1,700. I also bought ECI when it was $16.45 and got paid out at $29 last year. But I'm sure you're doing just as well.

[Pump_And_Hump]

I dont think that a smart men would invest in crypto... as we saw for the last couple of months is not even that popular because of it stability issue... 

[3ml]

2 hours ago, Pump_And_Hump said:

I dont think that a smart men would invest in crypto... as we saw for the last couple of months is not even that popular because of it stability issue... 

So in another thread you asked if it’s still good to make money on.  Obviously you know nothing about crypto.

Im up 6 figures since 2017 but what do I know????

Also when you are saying people aren’t smart who invest in crypto maybe you should get a basic lesson on grammar before slamming others ...

[Pump_And_Hump]

15 hours ago, 3ml said:

So in another thread you asked if it’s still good to make money on.  Obviously you know nothing about crypto.

Im up 6 figures since 2017 but what do I know????

Also when you are saying people aren’t smart who invest in crypto maybe you should get a basic lesson on grammar before slamming others ...

Wow dude... easy... I've learned a lot about crypto. Put some money earned some,  but also lost some. And from my own experience I think that a smart guy wont do it. I have some friends that also invested and got stuck with 15.000$. Its like a casino... The more you get, the more u invest... Thats why I dont like it. And about your 6 figure, anyone on any forum can claim that- I got a billion in my acount. Do you believe this?? 

[3ml]

2 hours ago, Pump_And_Hump said:

Wow dude... easy... I've learned a lot about crypto. Put some money earned some,  but also lost some. And from my own experience I think that a smart guy wont do it. I have some friends that also invested and got stuck with 15.000$. Its like a casino... The more you get, the more u invest... Thats why I dont like it. And about your 6 figure, anyone on any forum can claim that- I got a billion in my acount. Do you believe this?? 

Ok whatever

you know more than I do, I can tell you are highly intelligent 

[3ml]

Plus 6 figures which means over 100k is far from a billion

and really isn’t that much money