First Gear

Interested in Advertising on 780Tuners?  Please contact us

Page 10 of 11 FirstFirst ... 891011 LastLast
Results 82 to 90 of 97

Thread: Investing in crypto currencies

  1. #82
    Join Date
    Aug 2010
    Location
    Edmonton
    Posts
    6,072
    Thanks
    400
    Thanked 1,292 Times in 918 Posts

    Default

    Quote Originally Posted by Dieseldakota View Post
    My understanding is that it's taxed as capital gains, so 50% of the gain is taxable. So if you make 100k, 50k is taxable as income.
    That's the gist of it. Obviously there is fancy ways to mitigate taxes, but unless you're an accountant it'll be more information than you can absorb from a 780 post.

  2. #83
    Join Date
    Feb 2008
    Location
    SW edmonton
    Posts
    6,748
    Thanks
    262
    Thanked 1,072 Times in 603 Posts

    Default

    Quote Originally Posted by Refresh View Post
    I mean regular stock trading not cryotocurrency. Questtrade Ok?
    I use my banks webbased trading software. most people i know do the same. my wife uses questtrade.

    i'm with cibc and i like it because its 6.95 a trade and most are $10, plus its very easy to move money around but it is very stripped down imo. It doesn't even track what you've made.

    TD i haven't actually looked at in person, but from the info my friends get it sounds like the best one to me if you like data, but it's $10 a trade.

    There are also annual fees to worry about ($100 or so usually), and depending what you have in your account those can get waived. CIBC waives the annual fees above 25000 i believe, but only in your individual account. if you have 50k in your tfsa, and 1 dollar in your rrsp, you still pay $100 fees on the rrsp account.


    As far as i'm concerned if you're just starting out use whatever unless it has retarded fees.

  3. #84
    Join Date
    Aug 2010
    Location
    Edmonton
    Posts
    6,072
    Thanks
    400
    Thanked 1,292 Times in 918 Posts

    Default

    Quote Originally Posted by zhao View Post
    I use my banks webbased trading software. most people i know do the same. my wife uses questtrade.

    i'm with cibc and i like it because its 6.95 a trade and most are $10, plus its very easy to move money around but it is very stripped down imo. It doesn't even track what you've made.

    TD i haven't actually looked at in person, but from the info my friends get it sounds like the best one to me if you like data, but it's $10 a trade.

    There are also annual fees to worry about ($100 or so usually), and depending what you have in your account those can get waived. CIBC waives the annual fees above 25000 i believe, but only in your individual account. if you have 50k in your tfsa, and 1 dollar in your rrsp, you still pay $100 fees on the rrsp account.


    As far as i'm concerned if you're just starting out use whatever unless it has retarded fees.
    Never heard of any bank trading account having yearly fee. Anything is possible though. Everywhere is 10$ now accept your one off bank that does 6.99. However most will have a discount to 5$ if you trade above a certain number of trades each month. Which you'll easily hit if you're swing trading probably.

  4. #85
    Join Date
    Jan 2006
    Location
    A\N
    Posts
    1,638
    Thanks
    372
    Thanked 744 Times in 498 Posts

    Default

    Bitcoin and most other crytos dropping lately. Wonder how many people are suicidal now cause of bitcoin. "It can never crash" lol


    Because speed limits, like fears, are often just illusions.

  5. The Following User Says Thank You to LOLJDM For This Useful Post:

    AudiInProgress (December 22nd, 2017)

  6. #86
    Join Date
    Mar 2012
    Location
    Fort Sask/Texas/?
    Posts
    1,242
    Thanks
    1
    Thanked 130 Times in 98 Posts

    Default

    Quote Originally Posted by LOLJDM View Post
    Bitcoin and most other crytos dropping lately. Wonder how many people are suicidal now cause of bitcoin. "It can never crash" lol
    Anybody who thought that is really dumb. Dropping 50% or more in a day isn't exactly uncommon in crypto.
    #RAM

  7. #87
    Join Date
    May 2012
    Location
    Edmonton
    Posts
    276
    Thanks
    37
    Thanked 56 Times in 36 Posts

    Default

    I bought about 65k of dogecoin at the end of '13 when it came out for about $120 just as a goof "a fool and his money" type thing.

    Pleasantly surprised to see i'm up about 400ish CAD on it since then.

    Gonna hodler on to it and see where she goes, to the moon hopefully LOL
    Last edited by Markous; December 22nd, 2017 at 07:50 PM.

  8. #88
    Join Date
    Apr 2004
    Posts
    1,254
    Thanks
    99
    Thanked 10 Times in 7 Posts

    Default

    Quote Originally Posted by LOLJDM View Post
    Bitcoin and most other crytos dropping lately. Wonder how many people are suicidal now cause of bitcoin. "It can never crash" lol
    Aside from a few alternate factors, it's just the whales shaking the weak hands out of Bitcoin.. easy money.

  9. #89
    Join Date
    Feb 2008
    Location
    SW edmonton
    Posts
    6,748
    Thanks
    262
    Thanked 1,072 Times in 603 Posts

    Default

    That's the speculation: Market manipulation to make more money by a select few in a market where anything goes

    And it will likely go up again, possibly to new highs.... but when something is worth 20g and falls to 10g it'll also likely scare people off forever as well. Dont forget there are a lot of people out there that if if there were 10000x the bit coins out there and they were at $1.50 a bitcoin people would invest $1000 because its cheap, but because there aren't 10000x more bitcoins out there, there are literally droves of people looking at it and going $15000 for one bit coin, that's too expensive to invest my $1000 in. i'll find something cheaper (not realizing their investment is the same).

    My ongoing theory is bitcoin will show the bugs with bitcoin's cryptocurrency and someone else will make a better cryptocurrency (or possibly already has) and that will take off and eventually kill bitcoin off.

  10. #90
    Join Date
    Apr 2004
    Posts
    1,254
    Thanks
    99
    Thanked 10 Times in 7 Posts

    Default

    Quote Originally Posted by zhao View Post
    That's the speculation: Market manipulation to make more money by a select few in a market where anything goes

    And it will likely go up again, possibly to new highs.... but when something is worth 20g and falls to 10g it'll also likely scare people off forever as well. Dont forget there are a lot of people out there that if if there were 10000x the bit coins out there and they were at $1.50 a bitcoin people would invest $1000 because its cheap, but because there aren't 10000x more bitcoins out there, there are literally droves of people looking at it and going $15000 for one bit coin, that's too expensive to invest my $1000 in. i'll find something cheaper (not realizing their investment is the same).

    My ongoing theory is bitcoin will show the bugs with bitcoin's cryptocurrency and someone else will make a better cryptocurrency (or possibly already has) and that will take off and eventually kill bitcoin off.
    Bitcoin is merely a store of wealth at this point - there's multiple payment based cryptos that are way better.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •