Let's talk about Cryptocurrencies

[topfiverecords]

Originally Posted by Swift

Wealthsimple Crypto - download the app, add funds, a few days later you're good to go. They only have Ethereum and Bitcoin on there.

Can you withdraw BTC on yours? I have Wealthsimple investment account so I'm looking into that, but in their Trade app there's no feature to withdraw BTC, just buy/sell/withdraw CAD.

Would like to be able to move BTC to a separate exchange.

[topfiverecords]

Originally Posted by dino7c

Tesla buys 1.5B of BTC today...price now just under 55k Canadian

Don't say I didn't warn you.

Why didn't you warn me Doge was going from 1 cent to 8 cents this week? That's way bigger growth than Bitcoin moving from 40k-50k. Bitcoin is almost beyond the point of putting money into now.

[Swift]

Originally Posted by topfiverecords

Can you withdraw BTC on yours? I have Wealthsimple investment account so I'm looking into that, but in their Trade app there's no feature to withdraw BTC, just buy/sell/withdraw CAD.

Would like to be able to move BTC to a separate exchange.

Haven't tried it yet obviously, but as far as I can see, yes you are able to withdraw it. Their site lists no fees to withdraw.

[topfiverecords]

Originally Posted by Swift

Haven't tried it yet obviously, but as far as I can see, yes you are able to withdraw it. Their site lists no fees to withdraw.

Ok, maybe I need to buy first before the withdraw will show as an option in the menu.

[accord1999]

From what I've found, Wealthsimple is a lot like Paypal and Robinhood in that you can't withdraw the coins to your own wallet.

At this time, Wealthsimple Crypto only supports the ability to deposits and withdrawal Canadian dollars to and from the platform. We’re unable to accept any transfers of existing cryptocurrency held at other institutions or in a private wallet!

https://help.wealthsimple.com/hc/en-...s/360056581494

[Hemi-Cuda]

Originally Posted by accord1999

From what I've found, Wealthsimple is a lot like Paypal and Robinhood in that you can't withdraw the coins to your own wallet.

https://help.wealthsimple.com/hc/en-...s/360056581494

Well shucks, I was just about to try moving my Bitcoin from Coinsquare to Wealthsimple since I already have an investment account there, but I guess that's moot. I hope they add that feature in the future

[dino7c]

Originally Posted by topfiverecords

Why didn't you warn me Doge was going from 1 cent to 8 cents this week? That's way bigger growth than Bitcoin moving from 40k-50k. Bitcoin is almost beyond the point of putting money into now.

Go back, I warned you when it was $1500 lol

And I "warned you" last week that large companies would be buying. It's not too late though fyi.

[topfiverecords]

Originally Posted by dino7c

Go back, I warned you when it was $1500 lol

And I "warned you" last week that large companies would be buying. It's not too late though fyi.

I had Bitcoin at sub $100, so your warning at $1500 was way too late.

If I buy Bitcoin now, how long are you warning us it will take to double? I doubled my money in Doge in a few days. It might take 7 more years to double in Bitcoin.

[GirlySports]

Doge to $100!

[topfiverecords]

Originally Posted by GirlySports

Doge to $100!

If it gets that high I better have my wallet in a backup somewhere.

[CaptainReboot]

Originally Posted by topfiverecords

If it gets that high I better have my wallet in a backup somewhere.

Not sure if anybody is using Nicehash to mine but it’s been on quite a tear lately.

[dino7c]

Originally Posted by topfiverecords

I had Bitcoin at sub $100, so your warning at $1500 was way too late.

If I buy Bitcoin now, how long are you warning us it will take to double? I doubled my money in Doge in a few days. It might take 7 more years to double in Bitcoin.

Seven years to double lol, it will be 20x in 7 years

Doge is a meme...you might make some quick cash but make sure you sell

BTC is HODL

Sub 100, so how many coins do you have?

[Winsor_Pilates]

Any of you invest in QBTC instead of Bitcoin directly?
To do so inside you TFSA?

Has that stock pricing coincided with Bitcoin pricing as you'd expect?

[PsYcNeT]

EDIT: Not gonna doomsay

[PsYcNeT]

EDIT: Not gonna doomsay

[worth]

Not everyone is chasing the pumps.

[PsYcNeT]

EDIT: Not gonna doomsay

[topfiverecords]

Originally Posted by dino7c

Seven years to double lol, it will be 20x in 7 years

Doge is a meme...you might make some quick cash but make sure you sell

BTC is HODL

Sub 100, so how many coins do you have?

Only 20x in 7 years? It's up 480x over the previous 7.

[Azure]

Originally Posted by 1_Flames_Fan

$60K Cdn bitcoin. Makes me sad cause if I were a bit smarter awhile back I would have set myself and my family up for life. Congrats to all the bitcoin millionaires ��

I'm 100% certain that BTC will hit $100k at some point.

I also am 100% certain you should not invest more than 5% of your savings into it.

[Krovikan]

All these crypto news sites are expecting a massive pump from Tesla and the ability to buy cars with the currency, but I actually think that this is going to cause a drain on the price of Bitcoin.

Tesla's are highly desirable cars and this is going to give people a more reliable way to gain liquidity by selling their cars. So I'm speculating that we could see a dip in price as we start seeing a lot of coins being moved from HODL to buy Tesla's and sell them used.

Then Tesla will in turn move those coins to institutional investors in large blocks who will sell them on the open market. We could see a massive expansion of the actively trades (available) float of BTC over the next few years.

While this sucks for people who have invested for the purposes of gaining value, I think that this is a good thing overall as BTC because of a healthier eco system.

Also now that Tesla has this foothold in cryptocurrency, does he use this position to start PayPal 2.0 for cryptocurrency transactions for businesses that can not accept cryptocurrency due to trustworthy liquidity problems?