Crypto Currency

[doulos]

So is now a good time to invest in Crypto?
How would one go about that (Canada)?

I can't answer if it's a good time.

If you do decide then in Canada you can use a service like Shakepay (for smaller amounts) or Kraken (for larger amounts).

[Mr. Guru]

So is now a good time to invest in Crypto?
How would one go about that (Canada)?

Anytime in 2022 will be a good time to invest.

Short term hold would be 4 years
Medium hold 10 years
Long term hold should be decades.

How much do you want to invest? I could probably tell you the easiest way if you give me that info. Pretty much over 3k or under 3k?

[Atomic Wedgy]

Etherium down another 15% today... what a slaughter

Who's calling bottom now?

If anyone tells you they know when the bottom is, they are lying. No one knows anything. I can tell you this tho.... If ETH goes below $2k, I will have no choice but to buy more. NO CHOICE!

[Invictus]

Anytime in 2022 will be a good time to invest.

Short term hold would be 4 years
Medium hold 10 years
Long term hold should be decades.

How much do you want to invest? I could probably tell you the easiest way if you give me that info. Pretty much over 3k or under 3k?

Hmm I could go over 3k... or go under and just throw rest in my already established more conventional investments... but where's the fun in that!

[Mr. Guru]

For 3k or under you can e-transfer every 24 hours.

And doing this I would use a Canadian exchange called Newton

[hockeyrobot]

Did anyone get in on the NFL NFT drop yesterday?

[doulos]

Did anyone get in on the NFL NFT drop yesterday?

It looks like a fun one for NFL fans. For me personally, since I don't watch NFL, I wasn't really interested. I don't think the potential ROI on it makes it worth it for me.

NFTs are sheer madness. I never thought I'd be into them, but it's that perfect mix of gambling, speculation, collectibles, and degeneracy. Hits the sweet spot, and the potential gains vs the risk, if done well, is too much to pass up on right now. Hoping I can be done with it soon though, as I don't get near enough sleep these days since there is always another project.

[Atomic Wedgy]

Zoom out.....

[blayze]

Looks like I missed the bottom lol

[BreadManPanarin]

Catching the bottom on an asset that will go up in value forever is pretty unimportant imo.

[forumname]

Catching the bottom on an asset that will go up in value forever is pretty unimportant imo.

That's a pretty bold prediction lol. I guess there's a first time for everything?

[BreadManPanarin]

That's a pretty bold prediction lol. I guess there's a first time for everything?

I don't think it is particularly bold to be honest.

We've never had a monetary good before in history that is absolutely fixed in scarcity, controlled/censored by no one, and can be peer-to-peer exchanged between any two people in the world regardless of location without any trusted middleman.

Since all other things in the world are for practical purposes not finite (especially fiat currency), it stands to reason that the value of the absolutely finite thing will increase in purchasing power forever.

Stated mathematically:

The fully diluted supply of fiat currency is unlimited (∞)

The marginal cost to produce a trillion dollars is $0.

1 BTC = 1 BTC, forever.

∞/21 million = ∞

[forumname]

I don't think it is particularly bold to be honest.

We've never had a monetary good before in history that is absolutely fixed in scarcity, controlled/censored by no one, and can be peer-to-peer exchanged between any two people in the world regardless of location without any trusted middleman.

Since all other things in the world are for practical purposes not finite (especially fiat currency), it stands to reason that the value of the absolutely finite thing will increase in purchasing power forever.

Stated mathematically:

The fully diluted supply of fiat currency is unlimited (∞)

The marginal cost to produce a trillion dollars is $0.

1 BTC = 1 BTC, forever.

∞/21 million = ∞

Who says Bitcoin will be the chosen one? Ford used to kick ass in the automotive market until more competition came along.

[BreadManPanarin]

Who says Bitcoin will be the chosen one? Ford used to kick ass in the automotive market until more competition came along.

Bitcoin already won. It has the strongest network effects, has the benefit of the Lindy effect, and has ironclad game theory. Nothing else is credibly decentralized enough, nothing else is leaderless, and nothing else had the benefit of growing from being worth literally nothing for more than a year to naturally growing into a trillion dollar asset. And almost every alt coin these days is a security by the SEC's definition (Howe test), whereas bitcoin is unquestionably a global commodity.

It is important to compartmentalize this. Bitcoin is competing with gold, USD, bonds, etc. as a monetary store of wealth. It currently makes up about .1% of that global market. If it outcompetes negative yielding sovereign debt bonds and takes just a quarter of their market share it goes from .1% to 5%, or $40k per bitcoin to $2m per bitcoin.

Ethereum, Cardano, Solana, and a whole ton of others are competing as tech companies trying to provide utility. These are very different things. No crypto currency is credibly competing with bitcoin as a global commodity for store of wealth purposes.

[forumname]

Bitcoin already won.

Bitcoin is c u r r e n t l y winning. Who knows what the landscape will look like in 5 years, or 20 years.