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Old 12-22-2021, 11:29 PM   #3361
bizaro86
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I did mining in 2017/8, I spent around $3k on equipment earned my money back plus enough that I currently have a decent chunk of cryptocurrency (even after falling for a couple of scams).

If I have bought the Etheruem straight up at the time, instead of mining it, I would have made 10x what I did. So IMO, if you believe in the asset, just buy the coin, don't mine the coin. If I was to buy Eth today, I wouldn't buy the coin either, I'd just buy an ETF that tracks it, that way I can buy it in my TSFA.

If you are looking to extract value, maybe mine it, a lot of coins aren't profitable without scale to mine. With my video card (RTX 2070), I'd make 5.36 USD per day on Eth, Power Cost would be 1.82 USD, which would net me 1,277.5 USD over the year.

But based on my previous mining experience, the card would probably not make it past a year, there is a high failure rate in mining. So I'd make myself enough to upgrade from an RTX 2070 to an RTX 3070 if I can find a card because graphics cards are really hard to find.

Plus you have to deal with noise and excess heat, which in the summer is a huge issue.

Edit: oh another issue with extracting value, is transaction cost, your ability to get your coin to an exchange to sell it is expensive right now on Eth. I use Eth as after a quick Google it seems to be the most profitable right now, doubling the profitability of the next coin.
I probably know only enough about crypto to be dangerous. But I think its likely that the combination of ethereum being expensive to transfer right now plus the upcoming switch to proof of stake from proof of work are the reasons ETH mining margins are temporarily high. I wouldn't make any long term plans around mining crypto unless you also have a way to get free power.
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Old 01-18-2022, 07:10 PM   #3362
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Quite the sell off for most big tech this year. What are people's thoughts on it? Does the increase in interest rates really lead to that much of a drop in profitability or growth going forward? I find it a little puzzling that an increase in 50 basis points (0.5%) can cause a 10-15% drop in earnings potential. I only own Amazon @ $3185 purchased a few months ago, but I'm thinking of jumping back in to a few names including Apple (I imagine this year won't be any major launches but next year should be interesting), Shopify and Nvidia. Any thoughts one way or another?
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Old 01-18-2022, 07:19 PM   #3363
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I think most of the big tech selloffs have been pretty modest considering the runs they were on. Some nice entry points on most of them but nothing crazy.

I bought TWLO last year. Yikes on that one.
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Old 01-19-2022, 09:24 AM   #3364
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Having some major FOMO after selling my APHA and WEED 3 weeks ago. Sold APHA at 12.83 for 108% gain and my WEED at 41.00 for 168% gain, but they keep going up. Unsure of whether to get back into APHA and see it through the merger with TLRY or not. A little tougher of a decision after a +17% day.
Checking in just under a year later and let me tell you I no longer have FOMO. WEED is sub $10 and after the APHA/TLRY merger TLRY is approaching $7.50. Might have to open a small position at these prices...
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Old 01-19-2022, 10:24 AM   #3365
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A few questions for all you investors.

I have a fairly decent portfolio but it is strictly managed by a financial advisor I follow it closely but frankly don't have much input or activity. I am interested in dropping a few thousand into one of the investing platforms and using it to buy and sell more regularly, kind of a way to stay busy, learn and hopefully make a few bucks or at worst don't lose it all.

So questions are:

What platform would you suggest?
And if only putting a few thousand in are there stocks you would recommend? Better to have more inexpensive shares or fewer expensive shares?

Thanks in advance.

Last edited by BEANZ; 01-19-2022 at 10:35 AM.
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Old 01-19-2022, 12:36 PM   #3366
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Personally I'd suggest going with Interactive Brokers. It has lower fees, gives you access to international markets (as opposed to just Canada/USA), and allows you to do pretty much any type of trading (Options, Futures, etc) if you so desire. Because it's geared towards a more professional/sophisticated user, it has a higher learning curve than some of the other platforms...but I'm no pro and I figured it out pretty quickly.

I personally also have a Questrade account, and that's not bad either, but I much prefer IB.
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Old 01-19-2022, 01:07 PM   #3367
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Personally I'd suggest going with Interactive Brokers. It has lower fees, gives you access to international markets (as opposed to just Canada/USA), and allows you to do pretty much any type of trading (Options, Futures, etc) if you so desire. Because it's geared towards a more professional/sophisticated user, it has a higher learning curve than some of the other platforms...but I'm no pro and I figured it out pretty quickly.

I personally also have a Questrade account, and that's not bad either, but I much prefer IB.
Do cash-secured puts require Level 4 options? What's the account balance minimum for Level 4 options?
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Old 01-19-2022, 01:36 PM   #3368
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Rivian just hit an all time low hope people got out when the stock was mooning. Tempting buy opportunity but have we reached bottom? This is new territory for me I've had a pulse on the market for some time, right now I simply don't know.
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Old 01-19-2022, 02:10 PM   #3369
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Do cash-secured puts require Level 4 options? What's the account balance minimum for Level 4 options?
Sorry, I haven't ventured past basic options trading into things like naked calls/puts etc, so I can't answer that. Hopefully someone else here can.
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Old 01-19-2022, 02:24 PM   #3370
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Rivian just hit an all time low hope people got out when the stock was mooning. Tempting buy opportunity but have we reached bottom? This is new territory for me I've had a pulse on the market for some time, right now I simply don't know.
I've never been crazy about the stock because I want to see more about deliveries and customer satisfaction/reliability. My buddy keeps telling me to buy because he loves Rivian. I'll consider it at $50 though.
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Old 01-19-2022, 03:04 PM   #3371
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Originally Posted by BEANZ View Post
A few questions for all you investors.

I have a fairly decent portfolio but it is strictly managed by a financial advisor I follow it closely but frankly don't have much input or activity. I am interested in dropping a few thousand into one of the investing platforms and using it to buy and sell more regularly, kind of a way to stay busy, learn and hopefully make a few bucks or at worst don't lose it all.

So questions are:

What platform would you suggest?
And if only putting a few thousand in are there stocks you would recommend? Better to have more inexpensive shares or fewer expensive shares?

Thanks in advance.
Why? and what have the results looked like?
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Old 01-19-2022, 04:01 PM   #3372
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Originally Posted by BEANZ View Post
A few questions for all you investors.

I have a fairly decent portfolio but it is strictly managed by a financial advisor I follow it closely but frankly don't have much input or activity. I am interested in dropping a few thousand into one of the investing platforms and using it to buy and sell more regularly, kind of a way to stay busy, learn and hopefully make a few bucks or at worst don't lose it all.

So questions are:

What platform would you suggest?
And if only putting a few thousand in are there stocks you would recommend? Better to have more inexpensive shares or fewer expensive shares?

Thanks in advance.
Given your third question, my recommendation would be to open a Wealthsimple account. In fact move your entire portfolio there, cut your fees, stop underperforming the market and move on.

Interactive brokers is a good suggestion and easily the best for sophisticated DYI, but you have to know what you're doing, and their customer service is absolute dog ####. That's why they're so cheap. RBC Direct Investing or any of the major bank self-directed accounts would be best for you if you really want to dabble yourself.
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Old 01-19-2022, 04:05 PM   #3373
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Why? and what have the results looked like?
The results have been well above market average. The guy who does it is a close friend and takes exceptionally good care of our investments. I have tried other firms with much worse performance.
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Old 01-19-2022, 07:42 PM   #3374
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Rivian just hit an all time low hope people got out when the stock was mooning. Tempting buy opportunity but have we reached bottom? This is new territory for me I've had a pulse on the market for some time, right now I simply don't know.
Even at the current price, it's still valued at $62B.

How many trucks do people think they are going to sell?
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Old 01-20-2022, 09:28 AM   #3375
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Even at the current price, it's still valued at $62B.

How many trucks do people think they are going to sell?
Valuation makes no sense same with Lucid, both companies have produced very few vehicles and have basically zero revenue.

RIVN hit a new low again today.
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Old 01-20-2022, 01:24 PM   #3376
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Markets have gone completely bonkers.
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Old 01-20-2022, 03:03 PM   #3377
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The spec stocks have dropped and the more traditional/proven automakers have risen. Goodbye to hype and back to fundamentals?
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Old 01-20-2022, 04:11 PM   #3378
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The results have been well above market average. The guy who does it is a close friend and takes exceptionally good care of our investments. I have tried other firms with much worse performance.
That's good, I only ask because I know many people that pay someone to invest for them and those investments perform worse than a simple market ETF.
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Old 01-20-2022, 05:18 PM   #3379
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That's good, I only ask because I know many people that pay someone to invest for them and those investments perform worse than a simple market ETF.
I think people need to be careful with that kind of comparison though. It depends on your risk tolerance, and risk-adjusted return, not purely “did you beat the market?”

I also think that in Canada we have a somewhat unique challenge in that regard. Specifically, which market? Is the goal to beat the TSX?
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Old 01-20-2022, 05:24 PM   #3380
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Markets have gone completely bonkers.
I think the markets have been bonkers. Hopefully, the prices continue trending down for better valuations.
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