Bitcoin

RiffRaff posted:

SO, who making money on this...it just went past $12K...and is poised to go even higher, some predicting it could go as high as $100K

Is this a massive farce or is it for real?

Riff,

I have been mining digital coins from day one and actually bought Bitcoin at $ 125. Yes $ 125 when it crashed in the early days.

No one knows where this digital currency boom will end up. Some are saying 100,000 for bitcoin and some are saying it is a bubble which is about to burst. 

This currency is very, very risky to invest in but it looks like billions are being pumped into Bitcoin.

I mined mainly litecoin which has also risen in value.

I recently pumped money into IOTA coins. It went from $ 0.37 to $ 4.78 this morning. This is another coin poised to rise. It was adopted by Microsoft, VW and a few others.

No one really knows where these coins will end up. It is a big risk but like any other thing in investing, it brings massive rewards. I recommend for potential investors to speak with a financial advisor before investing in high risk digital currency.

It is definitely not for the faint hearted. 

Yuji (Early Digital Coin speculator) 

Riff it is still very risky.

There is no official regulations on these coins, I can see it coming but one can imagine the risks. The rewards are very impressive but just imagine the risk. Knowing when to bail out is the most important thing.

I told my friends to invest in IOTA coins when it was $ 0.37 and it is climbing by leaps and bounds. This is a coin to watch in the long term. Even if an investor pumps $ 2,000 in IOTA and it crashed, it will not be a big loss. 

I would recommend to speculate wisely with digital coins. It is wise to invest in digital currency in the early stages and hope that the price rises in the LONG term. 

Now is the early stages. 

Amral posted:

I really dont anything much about it. I have 100 shares with Canopy Growth a weed company 

Open this photo in gallery:

Bitcoin coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015.

© BENOIT TESSIER / REUTERS/THE GLOBE AND MAIL

The country that brought you the first marijuana unicorn is plunging headlong into the next big thing: cryptocurrencies.

Little-known Canadian stocks such as Hive Blockchain Technologies Ltd., Glance Technologies Inc., and NetCents Technology Inc. have surged as much as 20-fold this year, giving retail investors a way to embrace the mania without actually having to buy bitcoins.

The country counts at least eight cryptocurrency-related stocks with a market value totaling about $2-billion, making it a burgeoning hub for bitcoin listings. And there may be more ways to invest soon: At least two Canadian firms have filed to launch what could be among the first bitcoin exchange-traded funds.

 

Canada's stock markets are no strangers to investing fads, with cobalt, lithium and marijuana stocks all bubbling higher this year. The country's TSX Venture Exchange has been dubbed the "wild west," the penny stocks among its more than 1,700 listings gyrating wildly from one day to the next.

Cryptocurrency experts say the fast-evolving bitcoin sector is a classic case of buyer beware, not unlike the dot-com bubble of the late 1990s when shares would spike in value simply because a company had ".com" in its name. Bitcoin, one of several digital currencies, briefly topped $11,000 on Nov. 29 and was trading at about $10,780 on Friday, up roughly 11-fold this year.

 

"There is an arbitrage that comes from being a public company with 'something blockchain' in the name," said Lex Sokolin, global director of fintech strategy at Autonomous Research LLP in London. "The demand is really high for anything crypto and the supply is very low, so you're not really winning on your merit, you're just winning because of the market dynamic."

The market is crying out for a "traditional vehicle at a really low price point," like an exchange traded fund, he said. "Make the whole thing boring and vanilla and remove the mystery of it."

Toronto-based Evolve Funds Group Inc. and Purpose Investments Inc. hope to do just that. They've recently filed regulatory documents to launch ETFs based on the bitcoin futures contracts that will begin trading Dec. 18 on the Chicago Mercantile Exchange. Horizons ETFs Management Canada Inc. is also "interested in creating an ETF that would give investors multiple types of exposure to bitcoin," co-Chief Executive Officer Steve Hawkins said in an email.

Raj Lala, CEO of Evolve, said the ETF will be a way for investors to bet on bitcoin "without worrying about the fact that you might be buying physical bitcoin from some unscrupulous service."

Here are some Canadian companies in the cryptocurrency business, all based in Vancouver:

 

Hive Blockchain Technologies Ltd.: Cryptocurrency miner backed by Canadian mining maverick Frank Giustra. The firm owns a data center in Iceland with options to acquire more facilities in other cold countries which keep the computer cooling costs down. Shares are up about 255 per cent since it began trading as a bitcoin miner on Sept. 18, giving it a market value of $847-million.

Glance Technologies Inc.: A creator of a mobile payment app for restaurants that's seeking to buy the Blockimpact cryptocurrency platform from Ztudium Ltd. for $100,000. Glance has risen about 1,270 per cent this year to reach a market value of $285-million.

NetCents Technology Inc.: An online payment processing platform that provides services for managing electronic payments, including e-wallets, and has its own cryptocurrency NetCents Coin. Shares of in the firm have jumped 1,794 per cent this year for a market value of $166-million.

Global Blockchain Technologies Corp.: An investment company providing investors access to a basket of holdings in blockchain and cryptocurrencies. The stock has jumped 1,365 per cent this year to give it a market value of about $53-million.

360 Blockchain Inc.: Aims to buy stakes in California cryptocurrency miner SV CryptoLab, and media directory Pressland to transform the business into a blockchain-powered platform to debunk fake news. 360 Blockchain, which aims to create its own cryptocurrency next year, has jumped 525 per cent this year and has a $28-million market value.

 
Yuji comments:
God only knows where these crypto coins might end up but there is too much money involved here and there has to be regulations introduced soon to address this crazy market.
There are multi millionaires appearing overnight. I have never seen something like this in my life. From Rags to Riches overnight.
If and when this bubble burst, it will be very nasty. Get out as soon as the markets show a sign of decline.
 
 
 
 
yuji22 posted:
Django posted:
RiffRaff posted:

that is some profitable investing Yugi

 Yesterday a Financial Consultant [ one of my customer] had a chat about Bit Coin.

read here https://en.wikipedia.org/wiki/Bitcoin

Dj

What was his take on Bitcoin ? Please chime in.

Bhai,how will the system be controlled from illegal activities,money laundering..etc.

take a read below

By

December 3,2017
 

US Senate Moves to Criminalize Non-Disclosure of Cryptocurrency Ownership.

US Senate Moves to Criminalize Non-Disclosure of Cryptocurrency Ownership

The US Senate Judiciary Committee is currently tackling bill S.1241 that aims to criminalize the intentional concealment of ownership or control of a financial account. The bill also would amend the definition of ‘financial account’ and ‘financial institution’ to include digital currencies and digital exchanges, respectively. According to ranking committee member Senator Dianne Feinstein, the proposed bill is needed to modernize existing AML laws.

Changing definitions

The bill would amend the definition of ‘financial institution,’ in Section 53412(a) of title 31, United States Code, to include:

“An issuer, redeemer, or cashier of prepaid access devices, digital currency, or any digital exchanger or tumbler of digital currency.”

If passed, the bill would likely have far-reaching effects for users of digital currencies both in the US and abroad.

Industry opinions

Several industry commentators have issued their opinions on the proposed law. Tone Vays claimed that he expects a confrontation between the Bitcoin team, including the holders and users, and the US government.

“It’s bad…I think it’s gonna end in a very confrontational way between Bitcoin—even Bitcoin holders and users—and the US Government.”

In his testimony during the hearing, John A. Cassara claimed that the issue of virtual currencies is interesting:

“Senator, I’m just glad I had my career when I did because I don’t know what I’d do trying to follow the money when it comes to digital currencies, it’s extremely, extremely challenging…I think if you look at the metrics, the metrics suggest today [that] digital currencies are a small fraction of the threat that we face. That’s not to say it’s gonna be the case in 5-10 years from now. We’re right at a crossroads, and it’s going to be very, very interesting to see what goes forward.”

Earlier reports also indicate that the White House is actively monitoring cryptocurrencies which could only mean more attempts to regulate the world’s first successful decentralized monetary system. With the growing involvement of Wall Street and the ever escalating media attention, it is not surprising that governments are stepping up their attempts to regulate digital currency.

Gilbakka posted:
yuji22 posted:

Gil

You better file a patent on that coin because I might just start my own digital coin and use that Image (with your permission with a payment of one yujicoin).

 

Are you now a Cuffy lover, Yuji? 😀

Yes sir. If memory serves me right, Cuffy was a Berbician.

yuji22 posted:
Gilbakka posted:
yuji22 posted:

Gil

You better file a patent on that coin because I might just start my own digital coin and use that Image (with your permission with a payment of one yujicoin).

Are you now a Cuffy lover, Yuji? 😀

Yes sir. If memory serves me right, Cuffy was a Berbician.

Two fish Cuffy was a white woman rapist.  He had his white meat and ate it too.

Add Reply

Likes (0)
×
×
×
×
×