What stocks are you buying now? Part 27

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puck stoppa

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Jul 5, 2011
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I don't have any, I'm quite new in buying stocks by myself. (1st stock bough feb 28th 2020, lost 30% in 3 weeks, but didn't sell)

as for Bitcoin, it's overwhelming the process to acquire, maintain and secure the key.
The decentralized is something new for me. Someone can steal my bitcoins and no one can help.

I'm slowly learning on digital wallets.

If I can buy Bitcoin through my current broker, I would've already bought some fractions.
This.
It’s why I bought stocks in QBTC and QETH to get my feet wet.
 

Mike8

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Jun 24, 2002
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HAAC decided to jump 18% after hours. Might be some news tomorrow

That's great. Not at all surprising. Unfortunately I can't justify having a material position in such a speculative investment, so I don't have a large stake here--but oh well, still great returns, even if it's not life-changing.
 
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Stanley Cup

Bettman's ice bucket
Jul 15, 2010
3,817
871
Québec
Super curious but I don’t know how to make a poll....

how many people in here don’t own any Bitcoin?

And what is your reasoning?
I'll bite.

1- Bitcoin is not TFSA/RSP eligible. Therefore it is taxable in Canada. Fair to say it has been home to a lot of tax evasion these past few years.
2- While there may be a finite bitcoin supply, most of the arguments in its favor also apply to every other crypto being created. There are endless possibilities of cryptos which are arguably interchangeable and there is therefore an infinite supply of crypto or bitcoin substitutes.
3- I get the blockchain argument. If bitcoin's popularity comes from advanced technology, it can only remain at the top for as long as it is the most advanced crypto as per management models. However, bitcoin not being a company makes it, as far as I know, impossible to be updated/upgraded in the future. It is, by definition, doomed to fail in the long run. Rule applies to every other cryptocurrency.
4- The decentralized argument can also be seen as an argument against cryptos. Believe it or not, currencies being regulated by governments help gain public's trust and examples such as the Quadriga founder's password news are proofs as to why we need a such central entity.
5- Governments will tend to want to hold powers related to currencies as it is one of two tools they can use to optimize macroeconomics. Exports/production/jobs are variables that are directly influenced by FOREX.
6- Bitcoin does not generate dividend, nor interest. Its only intrinsic value is the hope that some clown will buy it at a higher price than the current owner did in the future. Might explain why we have been flooded with apostles/so called crypto experts in the past few years. It has all the looks of a pyramid scheme.
7- Massive energy consumption required to generate.
8- BTC is the most used currency on the dark web. Can be argued that it helps terrorism funding aswell as drugs and human trafficking.

Whether Lord Elon Musk likes the thing or not will not change any of the above.
 

Mike8

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Jun 24, 2002
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Super curious but I don’t know how to make a poll....

how many people in here don’t own any Bitcoin?

And what is your reasoning?

I don't.

I haven't spent a lot of time on it, so it's tough for me to invest when I haven't. That said, I've spent a fair bit of time on its use cases and general value--so I get the overall concept/potential. I'm also (i) doing well with my normal-course investments; (ii) have other investment opportunities in front of me that are appealing/time intensive; (iii) appreciate liquidity (and yes, bitcoin is theoretically just as liquid as my public market investments, but practically it's not close); and (iv) have less than zero time to spend rectifying my knowledge-gaps. Notwithstanding all of the above, I think I'm probably making a mistake with zero direct exposure.
 

BreadManPanarin

Registered User
Mar 15, 2017
4,599
4,237
I'll bite.

1- Bitcoin is not TFSA/RSP eligible. Therefore it is taxable in Canada. Fair to say it has been home to a lot of tax evasion these past few years.
2- While there may be a finite bitcoin supply, most of the arguments in its favor also apply to every other crypto being created. There are endless possibilities of cryptos which are arguably interchangeable and there is therefore an infinite supply of crypto or bitcoin substitutes.
3- I get the blockchain argument. If bitcoin's popularity comes from advanced technology, it can only remain at the top for as long as it is the most advanced crypto as per management models. However, bitcoin not being a company makes it, as far as I know, impossible to be updated/upgraded in the future. It is, by definition, doomed to fail in the long run. Rule applies to every other cryptocurrency.
4- The decentralized argument can also be seen as an argument against cryptos. Believe it or not, currencies being regulated by governments help gain public's trust and examples such as the Quadriga founder's password news are proofs as to why we need a such central entity.
5- Governments will tend to want to hold powers related to currencies as it is one of two tools they can use to optimize macroeconomics. Exports/production/jobs are variables that are directly influenced by FOREX.
6- Bitcoin does not generate dividend, nor interest. Its only intrinsic value is the hope that some clown will buy it at a higher price than the current owner did in the future. Might explain why we have been flooded with apostles/so called crypto experts in the past few years. It has all the looks of a pyramid scheme.
7- Massive energy consumption required to generate.
8- BTC is the most used currency on the dark web. Can be argued that it helps terrorism funding aswell as drugs and human trafficking.

Whether Lord Elon Musk likes the thing or not will not change any of the above.

Yikes. That started out reasonable and made a hard transition to attacking at #6 lol. Thanks for your honest feedback.
 

ZDH

Registered User
Mar 6, 2008
8,880
3,984
I'll bite.

1- Bitcoin is not TFSA/RSP eligible. Therefore it is taxable in Canada. Fair to say it has been home to a lot of tax evasion these past few years.
2- While there may be a finite bitcoin supply, most of the arguments in its favor also apply to every other crypto being created. There are endless possibilities of cryptos which are arguably interchangeable and there is therefore an infinite supply of crypto or bitcoin substitutes.
3- I get the blockchain argument. If bitcoin's popularity comes from advanced technology, it can only remain at the top for as long as it is the most advanced crypto as per management models. However, bitcoin not being a company makes it, as far as I know, impossible to be updated/upgraded in the future. It is, by definition, doomed to fail in the long run. Rule applies to every other cryptocurrency.
4- The decentralized argument can also be seen as an argument against cryptos. Believe it or not, currencies being regulated by governments help gain public's trust and examples such as the Quadriga founder's password news are proofs as to why we need a such central entity.
5- Governments will tend to want to hold powers related to currencies as it is one of two tools they can use to optimize macroeconomics. Exports/production/jobs are variables that are directly influenced by FOREX.
6- Bitcoin does not generate dividend, nor interest. Its only intrinsic value is the hope that some clown will buy it at a higher price than the current owner did in the future. Might explain why we have been flooded with apostles/so called crypto experts in the past few years. It has all the looks of a pyramid scheme.
7- Massive energy consumption required to generate.
8- BTC is the most used currency on the dark web. Can be argued that it helps terrorism funding aswell as drugs and human trafficking.

Whether Lord Elon Musk likes the thing or not will not change any of the above.

Ok same but for Cardano.

1. Not taxable if you don't sell, and who is selling? Plus staking is a main draw and its especially hard to earn rewards if you sell your ada. So people of course aren't selling. Hence 80% decentralized already.

2. An infinite supply of shitcoin will always exist nobody is going to argue that with you. Bottom line some of the top dogs have a finite supply and thats a really good thing and a big draw to Cardano/Bitcoin. Almost everyone I explain Btc/ada to sees the advantage to a finite supply.

3. I don't agree that bitcoin or cardano is doomed to fail. I'm kind of confused here.

4. A completely decentralized platform in 1 month is going to be really fun. I think you'll be surprised. (Of course I'm talking Cardano here Bitcoin will never be as decentralized)

5. They can want all they want in 4 weeks Cardano is completely decentralized and moved over from the foundation and creators to thousands of stake pool operators around the world. There is no entity for these governments to even contact in one month. Its 100% decentralized.

6. Cardano generates dividend. You'll double your total ada in ~14 years (I know I said 15-20 before but somebody broke down the compounding interest to me so 14 is the new 15-20) guaranteed

7. PoS - zero energy consumption

8. Does not apply to cardano and is overblown for all crypto anyways
 
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TheDoldrums

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May 3, 2016
12,154
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Why is Ethereum moving towards PoS w eth 2.0?

Bitcoin uses 87 terawatts of power, thats more than Belgium...

Can you stake your coin? Is the top crypto mind in the world at the helm?

I just think PoS is simply not as secure as PoW. And will never be considered a store of value in the same way. When a competing chain forms on the Bitcoin network (like Bitcoin Cash), miners have to make a choice which chain to support. That builds a consensus. In PoS there is basically no cost to supporting multiple chains, leaves a lot more room for double spend potential and lack of consensus.

I also think the power consumption cases are usually overstated.



The market pushes Bitcoin miners to the places where energy is in abundance. Quebec, Iceland and certain areas of China have more energy than they can disperse. If it wasn't being used for Bitcoin mining, it would just be disposed. And as time progresses there are more and more cleaner ways of mining being enacted. There's no doubt it leaves a co2 footprint, but for now that's the necessary cost of absolutely secure, sound money. And of the many things in our world that cause co2 I think it's one of the more globally beneficial.

No one person is at the helm of Bitcoin and that's a good thing.
 
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BreadManPanarin

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Mar 15, 2017
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I don't.

I haven't spent a lot of time on it, so it's tough for me to invest when I haven't. That said, I've spent a fair bit of time on its use cases and general value--so I get the overall concept/potential. I'm also (i) doing well with my normal-course investments; (ii) have other investment opportunities in front of me that are appealing/time intensive; (iii) appreciate liquidity (and yes, bitcoin is theoretically just as liquid as my public market investments, but practically it's not close); and (iv) have less than zero time to spend rectifying my knowledge-gaps. Notwithstanding all of the above, I think I'm probably making a mistake with zero direct exposure.

Mike, we don’t interact a lot but you are a top 3 person I respect on this board based on your general disposition and the thoughtfulness you convey in your posts. I do think you are making a mistake by not coming off 0 Bitcoin position. I totally understand your reasoning. If you ever want to discuss it, I’d be happy to discuss and share some resources with you. That being said, I fully respect your position.
 
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Bettman's ice bucket
Jul 15, 2010
3,817
871
Québec
Yikes. That started out reasonable and made a hard transition to attacking at #6 lol. Thanks for your honest feedback.
Not an attack. Was meant in a large view. We see a lot of people introduced as crypto experts going on TV almost begging people to invest in Bitcoin and whatnot. Why is there a need for that? How often do we see promoted videos directly revolving around cryptos. Who is paying for that and for what reason?

I get the arguments in favor of it. If a company seeks to accept payments in that currency, I can live with it. But I have a hard time figuring out why so many people are spending their days trying to convince me to buy BTC. Only answer I can get is they want to profit from me buying it.
 

Mike8

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Jun 24, 2002
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Mike, we don’t interact a lot but you are a top 3 person I respect on this board based on your general disposition and the thoughtfulness you convey in your posts. I do think you are making a mistake by not coming off 0 Bitcoin position. I totally understand your reasoning. If you ever want to discuss it, I’d be happy to discuss and share some resources with you. That being said, I fully respect your position.

Much appreciated (on all fronts). I may take you up on that at some point--when the time permits me to more deeply consider it. That's really one of the bigger barriers for me right now.
 
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Bettman's ice bucket
Jul 15, 2010
3,817
871
Québec
I just think PoS is simply not as secure as PoW. And will never be considered a store of value in the same way. When a competing chain forms on the Bitcoin network (like Bitcoin Cash), miners have to make a choice which chain to support. That builds a consensus. In PoS there is basically no cost to supporting multiple chains, leaves a lot more room for double spend potential and lack of consensus.

I also think the power consumption cases are usually overstated.



The market pushes Bitcoin miners to the places where energy is in abundance. Quebec, Iceland and certain areas of China have more energy than they can disperse. If it wasn't being used for Bitcoin mining, it would just be disposed. And as time progresses there are more and more cleaner ways of mining being enacted. There's no doubt it leaves a co2 footprint, but for now that's the necessary cost of absolutely secure, sound money. And of the many things in our world that cause co2 I think it's one of the more globally beneficial.

No one person is at the helm of Bitcoin and that's a good thing.

Hydro-Quebec is reviewing the whole bitcoin farming industry. It currently consumes as much energy as 65K households just in QC. link : La poussée des cryptomonnaies remarquée chez Hydro-Québec
 

BreadManPanarin

Registered User
Mar 15, 2017
4,599
4,237
Not an attack. Was meant in a large view. We see a lot of people introduced as crypto experts going on TV almost begging people to invest in Bitcoin and whatnot. Why is there a need for that? How often do we see promoted videos directly revolving around cryptos. Who is paying for that and for what reason?

I get the arguments in favor of it. If a company seeks to accept payments in that currency, I can live with it. But I have a hard time figuring out why so many people are spending their days trying to convince me to buy BTC. Only answer I can get is they want to profit from me buying it.

What channels do you watch? All I ever see on TV is people tearing BTC down despite apparently not understanding it. Lol
 
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ZDH

Registered User
Mar 6, 2008
8,880
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I just think PoS is simply not as secure as PoW. And will never be considered a store of value in the same way. When a competing chain forms on the Bitcoin network (like Bitcoin Cash), miners have to make a choice which chain to support. That builds a consensus. In PoS there is basically no cost to supporting multiple chains, leaves a lot more room for double spend potential and lack of consensus.

I also think the power consumption cases are usually overstated.



The market pushes Bitcoin miners to the places where energy is in abundance. Quebec, Iceland and certain areas of China have more energy than they can disperse. If it wasn't being used for Bitcoin mining, it would just be disposed. And as time progresses there are more and more cleaner ways of mining being enacted. There's no doubt it leaves a co2 footprint, but for now that's the necessary cost of absolutely secure, sound money. And of the many things in our world that cause co2 I think it's one of the more globally beneficial.

No one person is at the helm of Bitcoin and that's a good thing.


Fair enough pros and cons to both. The fact that Charles chose a PoS system instead of going PoW when setting out to make something better than Bitcoin or Ethereum is telling. I'll trust his judgment there. Vitalik is a genius too, and he's transitioning to PoW. Again, very telling.

Edit: @TheDoldrums Here's a good video by Charles citing some PoW pros but says security is a moot point nowadays. "There are advantages to PoW from a number of viewpoints but I no longer think it provides value from a security viewpoint"

"PoS is better its much easier to quantify the security and in practice I think the systems are far more secure"
 
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Stanley Cup

Bettman's ice bucket
Jul 15, 2010
3,817
871
Québec
Fun fact for canadians : paying with cryptocurrencies is seen as bartering for tax purposes. It implies taxation just as if you sold the currency. Be careful when you buy your Tesla
 

BreadManPanarin

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Mar 15, 2017
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StarDucks

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Sep 14, 2020
1,998
1,552
That's great. Not at all surprising. Unfortunately I can't justify having a material position in such a speculative investment, so I don't have a large stake here--but oh well, still great returns, even if it's not life-changing.
Me neither, especially after I sold off like 30% to fund the opening of a couple other positions.
Might try to add a few more tomorrow depending on what things look like in pre-market.
 

x Tame Impala

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Aug 24, 2011
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Super curious but I don’t know how to make a poll....

how many people in here don’t own any Bitcoin?

And what is your reasoning?

I do not. At this point in my financial life I’m not comfortable with a $500+ investment. Is it worth it to dump smaller amounts periodically into it instead of investing elsewhere?
 

The Jones Zone

Registered User
Nov 27, 2013
6,082
2,521
Raleigh, NC
Tesla and Mastercard are accepting/using Bitcoin as payment
1 billion dollar market cap

I smell Government regulation coming soon

No chance I am buying anywhere around 47K

I see a pullback to 30----maybe 25K

Then it's going to take off again, where it goes up to is anyone's guess
 
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PAZ

.
Jul 14, 2011
17,357
9,703
BC
I do not. At this point in my financial life I’m not comfortable with a $500+ investment. Is it worth it to dump smaller amounts periodically into it instead of investing elsewhere?

Are you not comfortable with Bitcoin as an investment, or simply you don't own any investment worth $500+?

I'm not going to persuade you to buy or not buy it as that's something you need to research yourself, but what is the reasoning that you're comfortable investing in Stocks but not Cryptocurrency?
 

Avs9296

Registered User
Jul 1, 2019
2,606
3,868
So I just read that The Score is consolidating stocks with a 10:1 ratio and is looking to get listed on the US stock exchange.

Again I'm a bit of a novice here, is a stock consolidation (reverse split) generally a good or bad thing? Or does it not make much of a difference? I'm assuming obviously the potential US listing should be a big boost.
 

BreadManPanarin

Registered User
Mar 15, 2017
4,599
4,237
Tesla and Mastercard are accepting/using Bitcoin as payment
1 billion dollar market cap

I smell Government regulation coming soon

No chance I am buying anywhere around 47K

I see a pullback to 30----maybe 25K

Then it's going to take off again, where it goes up to is anyone's guess

You just throwing those numbers out there for giggles, or do you have some sort of justification for them?
 

mouz135

Registered User
Apr 27, 2013
1,966
2,113
Tesla and Mastercard are accepting/using Bitcoin as payment
1 billion dollar market cap

I smell Government regulation coming soon

No chance I am buying anywhere around 47K

I see a pullback to 30----maybe 25K

Then it's going to take off again, where it goes up to is anyone's guess
Do you really see Bitcoin losing 50%? I’d definitely buy some, but I think that much loss is a dream
 
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