bitcoin worth investing into?
- Thread starter ocean
- Start date
Considering you have ATMs in Montreal... its not that hard. But from an investment POV, you might want to do A LOT of research.
You can start here
http://fortune.com/2017/11/24/bitcoin-cryptocurrency-investing/Well the wave is huge so it seems to be worth riding. I believe so. Not because of the insane gains but what it could mean for FIAT currency. If BTC becomes legitimate, it means no more currency exchange fees while visiting other countries. It means the currency exchange business as we know it is about to end and be replaced by BTC ATM. For cross-border businesses, it means more international sales from buyers who might be hesitant because of currency exchange fees. This is already happening albeit on a much smaller scale and banks are starting to realize the potential threat here. My guess is eventually banks will make a move and by then there's going to be so few BTC left they'll have to create a new cryptocurrency.
Getting access to btc is a bit hard at the moment if you're Canadian. US have different regulations but basically you need to buy your btc from a btc exchange similar to how you would buy/sell stocks. Beyond providing KYC docs which can take some time, in Canada some exchanges have limited the amount you're able to transfer in one go to low five figures.
Buying and selling btc once you have it on the exchange is as simple as placing order for buying/selling stocks. Same with withdrawals unless there's a firesale going on.
The main difference between BTC and classic stocks is there are no regulations with BTC. You're responsible for everything going from the bank to the exchange to your wallet and vice-versa. Any loss incurred is on you. There's no insurance and even if the exchange guarantees something, it's for show. BTC is currently in the "wild west" stage. It may sound dangerous but deep down that's what we all want. True P2P processing.
HTH
Getting access to btc is a bit hard at the moment if you're Canadian. US have different regulations but basically you need to buy your btc from a btc exchange similar to how you would buy/sell stocks. Beyond providing KYC docs which can take some time, in Canada some exchanges have limited the amount you're able to transfer in one go to low five figures.
Buying and selling btc once you have it on the exchange is as simple as placing order for buying/selling stocks. Same with withdrawals unless there's a firesale going on.
The main difference between BTC and classic stocks is there are no regulations with BTC. You're responsible for everything going from the bank to the exchange to your wallet and vice-versa. Any loss incurred is on you. There's no insurance and even if the exchange guarantees something, it's for show. BTC is currently in the "wild west" stage. It may sound dangerous but deep down that's what we all want. True P2P processing.
HTH
Personally i don't see this kind of thing replacing money anytime soon. Way too complicated, way too unconvenient. We already have a good universal payment solution for internet purchase wich is paypal. And yes you may loose some money when exchanging if you travel but that still seem much more convenient than this bitcoin thing.
True to some extent. The original idea behind cryptocurrency was to be simple and convenient but most of its core use has been lost in translation. Paypal still depends on a strong banking/credit system which you and I are fortunate to have access to but you'd surprised to learn there's still a huge market for unanswered financial needs in the south of Asia or parts of Europe where the banking/credit isn't as strong. For these people bitcoin becomes very useful.
I found bitcoin could be very interesting for SPs. If they accepted bitcoins they wouldn't have to worry about carrying so much cash on them. It would be safe in their bitcoin wallet and they could withdraw it whenever they need to or simply use it where businesses accept bitcoins.
If you already have bitcoins and don't want to use ATM, the only other way is via a bitcoin exchange.
You send you bitcoin to the exchange and withdraw from there to local currency. The exchanges will usually show the delays and right now, you can withdraw up to 500k/24h with some exchanges. Wire transfers may take some time because the exchanges usually don't go through banks in North America to send you your money. There are faster withdrawals but capped at 10k/24h.
There is another way but it relies on both parties being very trustworthy. A simple cash for btc in person so you bypass ATMs/Exchanges.
A good video for newbie. Bitcoin is worth the investment as one day it will rule our financial system.
http://bitcoinproperly.org/#sthash.FRF8WOWF.dpbs
Cheers,
http://bitcoinproperly.org/#sthash.FRF8WOWF.dpbs
Cheers,
I wouldn't invest in Bitcoin now. It is in bubble territory. You can trade it and make some quick money if you are lucky.
http://www.foxbusiness.com/politics...compares-bitcoin-to-civil-war-greenbacks.html
http://www.foxbusiness.com/politics...compares-bitcoin-to-civil-war-greenbacks.html
The focus on bitcoin instead of cryptocurrencies in general is pretty funny. All the media talks about is bitcoin and ethereum sometimes, so lots of dumb money going in there. Meanwhile back in july i bought some omise and I made 12x my money in 2months. I did the same with another one call walton, bought them in august and they are valued at 10x the value now. If you do some good research you will realize that the bitcoin technology is obsolete and its slow, expensive. They are much better options besides bitcoin if you wanna put money into cryptos.
If you are in a hurry to make an account on an exchange like binance, poloniex and go to an atm bitcoin to fund your account. Also try localbitcoin.com
It seems that some of us have missed the boat....
Then I see these
https://www.cryptocoinsnews.com/stock-market-bear-sets-1-million-bitcoin-price-target/
https://www.cnbc.com/2017/11/29/james-altucher-predicts-bitcoin-will-reach-1-million-by-2020.html
What do we do ?
Then I see these
https://www.cryptocoinsnews.com/stock-market-bear-sets-1-million-bitcoin-price-target/
https://www.cnbc.com/2017/11/29/james-altucher-predicts-bitcoin-will-reach-1-million-by-2020.html
What do we do ?
If you're in a hurry, Bitcoin ATM is the only way to exchange bitcoins or find someone you know personally to make the trade. There's a few in Montreal and yeah you'll have to deal with high transaction fees so the amount better be worth it.
It's really that simple. Put your money where your mouth is or stick your head back in the sand.
It's really that simple. Put your money where your mouth is or stick your head back in the sand.
A lot of stories out in the last day or two about a shady pegged (not that sort of pegged/pegging!) cryptocurrency called Tether and how it might be affecting / driving the Bitcoin mania.
https://www.bloomberg.com/news/arti...her-and-its-links-to-biggest-bitcoin-exchange
http://fortune.com/2017/12/05/bitcoin-btc-price-usd-tether-limited-bitfinex/
https://seekingalpha.com/article/4129543-bitcoin-one-way-go-true
https://www.bloomberg.com/news/arti...her-and-its-links-to-biggest-bitcoin-exchange
http://fortune.com/2017/12/05/bitcoin-btc-price-usd-tether-limited-bitfinex/
https://seekingalpha.com/article/4129543-bitcoin-one-way-go-true
Even if it is, I hope you bought some and rode that tsunami of gains lol. I'd say wave but let's face it, I can't remember in the last decade when a security made so much gain in such a short time.
The stock is going mental, early 2015 the stock price was $209.00, early 2016 $421.00, early 2017 $888.00.... now $22K
If you invested 10K in 2015 you would have $1,052,631.58, in 2017 $247,747.75
If you invested 10K in 2015 you would have $1,052,631.58, in 2017 $247,747.75
Once it goes public, I think it's going to be a perfect example of the market being irrational longer than we can be solvable for those that are going to short it.
Similar threads
