I just read about it...I don’t get it...why is it so valuable, how do you get it and how do you use it?
Bitcoin
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You just read about it now? Holy shit. Turn off the porn.
Well fuck, I’ve heard of it, I just had some questions...thanks for the help...
At the moment I have Canadian dollars...I don’t really understand what Bitcoin is...I’ve seen it called cyber currency, like what the fuck is that?
It's a digital currency. It can be pretty complicated and you kind of have to keep on top of things.
You can buy some at coinsquare.com
You also can store it there and exchange it out of there for different currencies.
I bought some about 3 or 4 years ago and it sky rocketed.
When it started to take a downturn, I sold most of what I had.
Paid for a couple of medium to big ticket items with the profits.
Then I just forgot about it until recently when it was back in the news.
I looked up my account and the few dollars I had was bad up to almost a thousand.
Hindsight suggests I should have just left the money that was there in the account, but then I wouldn't have had the pleasure of the things I bought a couple of years ago.
I'm not an expert, so please don't swamp me with questions.
You can pretty much figure out what has to be done on coinsquare and maybe a bit of help from google.
Right now, it's pretty high, so maybe not the best time to buy, unless you think it's going to continue to increase in value.
You can buy some at coinsquare.com
You also can store it there and exchange it out of there for different currencies.
I bought some about 3 or 4 years ago and it sky rocketed.
When it started to take a downturn, I sold most of what I had.
Paid for a couple of medium to big ticket items with the profits.
Then I just forgot about it until recently when it was back in the news.
I looked up my account and the few dollars I had was bad up to almost a thousand.
Hindsight suggests I should have just left the money that was there in the account, but then I wouldn't have had the pleasure of the things I bought a couple of years ago.
I'm not an expert, so please don't swamp me with questions.
You can pretty much figure out what has to be done on coinsquare and maybe a bit of help from google.
Right now, it's pretty high, so maybe not the best time to buy, unless you think it's going to continue to increase in value.
its Not a digital currency. It is not an efficient form of transaction, it’s a store of digital value, a digital commodity if you will, first of its kind. This store of value can be sent around the world for cents on the dollar. You can move 1 million $ to your buddy in Australia for a few bucks. Bitcoin is not to buy a cup of coffee, it will never be to buy a cup of coffee.
It’s artuably the most secure network in the world right now, once which has never been compromised. In the future, I expect to see other collateral be “backed” by the bitcoin network
At the moment only the Bank of Luxembourg supports Bitcoin. Other banks that support it cyber starts-ups like Chime or Worldcore, which seems nebulous to me.
Institutional banks like TD, RBC and Visa are limiting their exposure due to lack of regulation. I question the security since you are hedging on the unknown. But there are others here that know more than I do.
Institutional banks like TD, RBC and Visa are limiting their exposure due to lack of regulation. I question the security since you are hedging on the unknown. But there are others here that know more than I do.
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Think of Bitcoin like Gold.
It is an asset, and can be a store of value, but isn't really useful as money.
There is a lot of nonsense associated with it (like gold) about being a counter to fiat money and being "free from the banks" and other pseudo-techno-libertarian bullshit.
Ignore that.
Treat it like gold - tends to go up when people feel things are unstable, constantly hyped by husters and scam artists, can be a good asset.
It is an asset, and can be a store of value, but isn't really useful as money.
There is a lot of nonsense associated with it (like gold) about being a counter to fiat money and being "free from the banks" and other pseudo-techno-libertarian bullshit.
Ignore that.
Treat it like gold - tends to go up when people feel things are unstable, constantly hyped by husters and scam artists, can be a good asset.
What the FUCK. Some asshole removed my comment!
You gotta HODL!
There is decent book on it: https://www.amazon.ca/Blockchain-Revolution-Technology-Changing-Business/dp/1101980133
You gotta HODL!
There is decent book on it: https://www.amazon.ca/Blockchain-Revolution-Technology-Changing-Business/dp/1101980133
Bitcoin has a public ledger so it's not exactly anonymous. Its gotten the spot light because its the first of its kind. It doubtable that any real government will support crypto currency because unlike modern currencies no one can control it which is liberating to the individual and removes power from banks.
Ethereum is another one that is actually created by a known person and he's Canadian.
Here's a good interview for those interested:
Ethereum is another one that is actually created by a known person and he's Canadian.
Here's a good interview for those interested:
be prepared for McAfee to consoom his phallus
Paypal just announced end of October that they intend to start dealing in BTC (bitcoin), this is why is skyrocketed in the last month. It is projected to come down a bit over 2021, or early 2021, but by 2024 it is supposed to be off the charts. Is it likely? Who knows. But as with any stock, buy low and sell high and don't bother investing if you are looking for a fast return.
People need to understand it is a digital commodity and not currency.
Has it never been compromised? I haven't looked into that. I know there has been lots of bitcoin theft but that always seemed to be more people being stupid about their wallets.
Lots of people invest in gold. It's perfectly fine. Same with bitcoin and other cybercurrencies - they are fine as commodities.
But gold, like bitcoin, attracts lots of nonsense mythology about it. People who hoard gold because fiat currency is "fake" or "controlled by the (((globalists))) -- wink wink -- and so on.
Ignore the people talking about bitcoin as some kind of massive disruption of the money system that banks and governments are afraid of and ushering in the blockchain revolution and so on.
Think of it as a commodity that people invest in and can go up and down and decide if it is somewhere to park some money.
