Let's talk about Cryptocurrencies

[afc wimbledon]

Originally Posted by dino7c

You saying one fiat is stable against another?

I am saying the purchasing power of the dollar is going down.

outside of real estate your wholly wrong, prices have been stable for decades, in real terms most have dropped, buying a TV or most consumer goods has never been cheaper, we live like kings compared to our parents.

Of course what we also do is waste vast sums of money on things we would never have bothered with 20 years ago like Netflix or Spotify but that's a choice

[DownhillGoat]

Originally Posted by afc wimbledon

outside of real estate your wholly wrong, prices have been stable for decades

Source? The percentage of my paycheck that goes towards food, transportation, utilities, etc. is certainly higher than it used to be. Pointing to throw-away consumer electronics getting cheaper isn't exactly compelling. Also, the "living like kings compared to our parents" argument is a bit trite. I should hope so. My parents lived like kings compared to theirs because of things like indoor plumbing and in-home hearing. I should hope quality of increases as technology progresses.

Originally Posted by afc wimbledon

Of course what we also do is waste vast sums of money on things we would never have bothered with 20 years ago like Netflix or Spotify but that's a choice

Or more accurately, the things we "waste" our money on monthly has changed with technology.

Last time I checked I spent $0 a month on cable, a landline, a pager, CDs, movie rentals, VHS tapes, 8-tracks, phonograph needles, weekly deliveries of ice for my ice box, or whale fat to keep my lamps lit at night.

[topfiverecords]

Originally Posted by dino7c

You saying one fiat is stable against another?

I am saying the purchasing power of the dollar is going down.

In which the rate is generally pretty stable.

[afc wimbledon]

Originally Posted by DownhillGoat

Source? The percentage of my paycheck that goes towards food, transportation, utilities, etc. is certainly higher than it used to be. Pointing to throw-away consumer electronics getting cheaper isn't exactly compelling. Also, the "living like kings compared to our parents" argument is a bit trite. I should hope so. My parents lived like kings compared to theirs because of things like indoor plumbing and in-home hearing. I should hope quality of increases as technology progresses.


Or more accurately, the things we "waste" our money on monthly has changed with technology.

Last time I checked I spent $0 a month on cable, a landline, a pager, CDs, movie rentals, VHS tapes, 8-tracks, phonograph needles, weekly deliveries of ice for my ice box, or whale fat to keep my lamps lit at night.

actually most of what you have listed is the start of our subscription culture, pagers and cable were the gateway drugs, they were pretty cheap and the price was stable, just to get you used to it but I grew up with no phone or pager and no cable, 3 channels was what we poor old saps had to watch, but it was free

[dino7c]

Originally Posted by DownhillGoat

Source? The percentage of my paycheck that goes towards food, transportation, utilities, etc. is certainly higher than it used to be. Pointing to throw-away consumer electronics getting cheaper isn't exactly compelling. Also, the "living like kings compared to our parents" argument is a bit trite. I should hope so. My parents lived like kings compared to theirs because of things like indoor plumbing and in-home hearing. I should hope quality of increases as technology progresses.


Or more accurately, the things we "waste" our money on monthly has changed with technology.

Last time I checked I spent $0 a month on cable, a landline, a pager, CDs, movie rentals, VHS tapes, 8-tracks, phonograph needles, weekly deliveries of ice for my ice box, or whale fat to keep my lamps lit at night.

I feel the same way but I suppose that could be anecdotal...I think the government also gets "creative" with how they report these numbers especially in the US. We have never seen money printing quite like this...it has to catch up eventually.

[karl262]

Originally Posted by Winsor_Pilates

As someone who honestly wants to know more, I find it very hard to find good resources for this.

Every video or article I find are clearly coming from biased sources that have skin in the game to see crypto values rise and seem like they're trying to sell me.

Any good links that give a more technical explanation of things without the fanclub vibes?

I agree. It seems most of the resources available for people wanting to educate themselves are either PhD written white papers laden with code ideas or mad money style youtubers.

I did find a good doc on prime that does a pretty good deep dive and includes one of the best explanations of how bitcoin exactly works. It's called Cryptopia: Bitcoin, Blockchains, and the future of the internet.





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[dino7c]

Forgetting about the long term debate for a second, $1400 stimulus checks are going out over the next week. Should see gains on all crypto but my money is on ETH and ADA with the biggest gains.

[1_Flames_Fan]

ADA has been taking some big losses lately. Of course I got in high like I always do. lol Still a good medium/long term play? BTC is on a nice run but it's definitely not helping ADA along at this point in time...

[dino7c]

ADA is still bullish medium and long term. Should get a bump with the stimulus.

[Azure]

Well here we go with the stimulus checks getting converted into BTC.

Almost at $78k CDN.

[dino7c]

Originally Posted by Azure

Well here we go with the stimulus checks getting converted into BTC.

Almost at $78k CDN.

Eth is rocking too

[hmmhmmcamo]

Originally Posted by dino7c

Eth is rocking too

Hey dino7c, I know google is my friend but I'd be interested to hear your opinion. I bought a small amount of bitcoin on coinbase a few years ago and didn't really pay attention to it until recently. My little bit of research so far is telling me I might not want to stay with coinbase...any suggestions on where I should go and the best way to transfer without getting fleeced with fees? Thanks.

[dino7c]

Originally Posted by hmmhmmcamo

Hey dino7c, I know google is my friend but I'd be interested to hear your opinion. I bought a small amount of bitcoin on coinbase a few years ago and didn't really pay attention to it until recently. My little bit of research so far is telling me I might not want to stay with coinbase...any suggestions on where I should go and the best way to transfer without getting fleeced with fees? Thanks.

Are you just holding? If so you probably want a hardware wallet like a trezor.

[indes]

What's everyone's thoughts on buying a stock for the currency vs the currency itself?

I don't have a crypto wallet or anything but can easily buy crypto stock with my Interactive broker account, is there any downside?

[Robotic]

Originally Posted by indes

What's everyone's thoughts on buying a stock for the currency vs the currency itself?

I don't have a crypto wallet or anything but can easily buy crypto stock with my Interactive broker account, is there any downside?

Are you referring to the ETF, like BTCC? If so, then yes I believe it’s smart to have some in your TFSA or RRSP so you can avoid capital gains. Otherwise I’d just have Bitcoin on a cold hardware wallet. The saying goes “not your keys, not your coins” which essentially means you don’t own the crypto on an ETF but you have an IOU in a round about way. A good example of this is what happened with Quadriga. But I’m hoping that these companies have better security procedures in place.

[Yoho]

https://twitter.com/user/status/1371579329738575878

[karl262]

Originally Posted by indes

What's everyone's thoughts on buying a stock for the currency vs the currency itself?

I don't have a crypto wallet or anything but can easily buy crypto stock with my Interactive broker account, is there any downside?

If its a long haul kind of position then I'd personally stay away from mining stocks as proof of work blockchains face all sorts of issues.

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[underGRADFlame]

Any miners on here looking for a rx580 8gb? I’ve got one in my collection but am wanting to move to all Nvidia cards. I’d be open for a trade.

[Fuzz]

Originally Posted by Yoho

https://twitter.com/user/status/1371579329738575878

Sounds logical.

[Robotic]

With what Jack Mallers is doing with Strike on the Lightning Network, it’s going to revolutionize the payment system. I’m sure Visa and MasterCard are watching.