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Thread: Investing in crypto currencies

  1. #28

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    Quote Originally Posted by Viktimize View Post
    You'd think the government will take some kind of action Though. They're a lot like the mob, they get pretty pissy when someone manages to avoid paying their "protection" money. I mean the only purpose of these electronic currencies is for people to avoid claiming transactions, launder money, and do illegal purchases. That's a lot of revenue the government is missing out on because of this stuff.
    There are plenty of stores (mostly online, some physical) that accept bitcoin and the list will only grow. Other purposes include instantaneous transfer of funds, international transactions without any B/S fees imposed by financial institutions for currency conversion etc. and the fact that no one owns your account but you (unlike banks or paypal).
    But the big difference between a right winger writing for a right wing media source, and left winger writing for a left wing source. Is that everything he wrote here is true and factual, not just somebodies opinion piece that is spinning vague facts to try and support their poorly thought out opinion.
    -Viktimize

  2. #29
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    Quote Originally Posted by 780rx View Post
    There are plenty of stores (mostly online, some physical) that accept bitcoin and the list will only grow. Other purposes include instantaneous transfer of funds, international transactions without any B/S fees imposed by financial institutions for currency conversion etc. and the fact that no one owns your account but you (unlike banks or paypal).

    Of course it has legitimate uses. Everyone takes everything so damn literal around be here. But it would be pretty ignorant to not recognize that a huge portion of illegal business gets done through bitcoin transaction. As I mentioned already, my comment wasn't for the purpose of arguing over bitcoins possible uses. The thread is about investment, and from that perspective it should be a risk worth considering that the government could intervene in this and thereby tank the value of this type of currency. Whether the government can do anything that will actually work as far as limiting the revenue they lose to this is irrelevant. The government rarely cares about efficiency. They care about just doing an action regardless of its consequences for the purpose of saying they tried.

  3. #30
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    Quote Originally Posted by Dieseldakota View Post
    I've been waiting for the varification process and money transfers since I brought up the topic so I'm not invested yet.
    Just wanted to point out that the price is up to 245$US from 130$US over this last week.
    It's been bouncing off of 325$US today. Big conference next week with expectations that the price will continue to rise
    #RAM

  4. #31
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    My suggestion would be if you are even slightly interested, sign up and start getting verified on some exchanges. This takes a week plus and doesn't cost you any money, just create an account and send in some of your information. Gemini, and kraken seem to be the best exchanges for Canadians, there is also quadriga but they recently had some technical issues.

    If I had done this when I had first heard of eth my investment would be worth over twice what it is now. Instead when I finally did some research and decided in I had to sit on the sideline and watch the price climb for over a week as the verification process was ongoing.
    #RAM

  5. #32
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    Quote Originally Posted by Dieseldakota View Post
    My suggestion would be if you are even slightly interested, sign up and start getting verified on some exchanges. This takes a week plus and doesn't cost you any money, just create an account and send in some of your information. Gemini, and kraken seem to be the best exchanges for Canadians, there is also quadriga but they recently had some technical issues.

    If I had done this when I had first heard of eth my investment would be worth over twice what it is now. Instead when I finally did some research and decided in I had to sit on the sideline and watch the price climb for over a week as the verification process was ongoing.
    Even once your account is set up, I don't think you can just quick transfer 10k and watch it grow? With Bitcoin you can buy a maximum 100$ a day.

  6. #33
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    Quote Originally Posted by Viktimize View Post
    Even once your account is set up, I don't think you can just quick transfer 10k and watch it grow? With Bitcoin you can buy a maximum 100$ a day.
    Depends, the fastest large number transfers are 1-3 business days. I transferred 5000USD and bought in within 2 business days on Gemini.
    My bank draft with quadriga took about 3-4 days but 2 of those were in the mail.
    Credit card purchases are instant but usually come with high fees and low limits.

    So yeah the money transfers can take a few more days but it still gets the week+ of waiting for varification out of the way. Some of the exchanges have been expanding and hiring to try to catch up to the sudden influx of new people.
    #RAM

  7. #34
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    Quote Originally Posted by Dieseldakota View Post
    It's been bouncing off of 325$US today. Big conference next week with expectations that the price will continue to rise
    Up to 350 within the last few hours
    #RAM

  8. #35
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    Quote Originally Posted by Dieseldakota View Post
    Depends, the fastest large number transfers are 1-3 business days. I transferred 5000USD and bought in within 2 business days on Gemini.
    My bank draft with quadriga took about 3-4 days but 2 of those were in the mail.
    Credit card purchases are instant but usually come with high fees and low limits.

    So yeah the money transfers can take a few more days but it still gets the week+ of waiting for varification out of the way. Some of the exchanges have been expanding and hiring to try to catch up to the sudden influx of new people.

    Yeah I understand he logistics of money transfer. I was talking about the limit of currency you can purchase. Is there not a limit with this new one like there is with Bitcoin?

  9. #36
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    Quote Originally Posted by Viktimize View Post
    Yeah I understand he logistics of money transfer. I was talking about the limit of currency you can purchase. Is there not a limit with this new one like there is with Bitcoin?
    I think most exchanges your good up to 50-100k in a single money transfer. No purchase limit
    #RAM

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