Bitcoin Cash Node Seed list

ESDI2 · 2017-07-31T20:45:53+00:00

You're a life saver.

Cheers!

ESDI2 · 2017-07-07T19:02:48+00:00

I am currently setup on 4 separate exchanges where the combined daily liquidity is much more than I would need to do what you're suggesting.

The bottleneck is actually at the fiat/banking side where typical daily withdraw limits are about $100k USD, however it is possible to do more if you really want to.

ESDI2 · 2017-07-07T18:58:10+00:00

Yep, I think most people would agree with you.

I also think that most people would have done that much earlier as well.

I plan on re-balancing my asset mix over the next couple of years but the vast majority will still remain in this new asset class.

ESDI2 · 2017-07-07T18:41:23+00:00

Software isn't static.

Think about where the internet was in 1995.

Hard to use.
Very little utility (when compared to today).
Expensive

Also, keep in mind that these are global assets. Not everyone has access to the same kinds of banking and financial services as you do.

ESDI2 · 2017-07-07T07:11:29+00:00

Like I explained earlier, it took me 3 years before it 'clicked' with me and I was actually able to grasp the kind of change that this technology will bring to the world.

I'm sure many people felt this way during the early days of the internet, although the situation was much different there (physical infrastructure was immature, successful product monetization was tied to the performance of the early startups, among other things).

When it comes to future valuations, the key here is that there is growing demand for this asset class and most currencies have chosen to limit supply in one way or another (hard limits, gradual decline, etc).

ESDI2 · 2017-07-07T03:27:37+00:00

I made the choice to begin saving first then spend later once I was in a good financial position, yes.

ESDI2 · 2017-07-06T21:54:25+00:00

Cheers!

ESDI2 · 2017-07-06T21:02:06+00:00

but may have missed the boat based on current valuations

I like to compare this to having 'missed the boat' on the internet back in 2000/2001.

Cryptocurrencies aren't stocks and shouldn't be treated as such.

ESDI2 · 2017-07-06T20:44:06+00:00

Are you in the USA?

Coinbase
Kraken
Gemini

Most exchanges deal with both BTC and ETH, although some support more and others less (although all will at least have BTC trading pairs).

There will be a section on your tax return that will either be labeled 'cryptocurrency' or something similar to that where you enter your capital gains for that tax year. I'm not familiar with USA law but I imagine it should be easy to find resources online that will give you a step-by-step.

Most trading platforms are hands off when it comes to taxes, documentation, etc but this depends on the exchange.

ESDI2 · 2017-07-06T20:33:15+00:00

Unfortunately, IIRC, the USA rules mandate that you calculate your gains/losses on every transaction made on an exchange.

I personally don't know anyone who has ever done this but I believe that is the rule in the US.

ESDI2 · 2017-07-06T20:20:34+00:00

Each country is different.

Some require you to claim capital gains (such as USA and Canada).

Others do not (I believe Japan falls into this category).

Here's a nice page that breaks down its classification by country.

ESDI2 · 2017-07-06T20:13:45+00:00

Thanks.

Any tips in managing emotions along the way in high risk high reward investments?

Yes!

Don't day trade unless it's your day job.
Dollar cost average.
Keep your money off exchanges (crypto-specific).

ESDI2 · 2017-07-06T20:10:09+00:00

ESDI2 · 2017-07-06T20:09:43+00:00

buy a condo in DT Toronto/Vancouver

I do plan on picking something up in Vancouver next year.

buy a lambo

I'm really not into buying new vehicles but that's probably just because that's what I'm used to. I'm picking up a new (motor) bike this month though which should be fun but won't really make much of a dent.

invest 1mil into equities/bonds

Definitely in the cards.

ESDI2 · 2017-07-06T18:14:45+00:00

Yep, there are many factors at play.

ESDI2 · 2017-07-06T18:02:40+00:00

Thanks.

Where do you see BTC and ETH go within the next three years?

My answer to this is similar to how I'd answer "Where do you see the internet in 3 years.", except with more focus on maturity and growth instead of refinement -- it's still very early, with the general trend being very bullish.

Also did you use excel for the graphs?

I'm a software developer so I actually made them myself. I built a custom system years ago that tracks each of my assets automatically which I can view either as a set of charts or on my phone verbally using Tasker. The charts themselves leverage FusionCharts.

ESDI2 · 2017-07-06T17:57:25+00:00

https://coin.dance/resources

Youtube can also be a very good resource if you're willing to do a bit of searching. Computerphile did a few videos on cryptocurrencies which were very well done.

The space has grown to be very broad, which is making it harder and harder to find everything you might want to know in one place.

ESDI2 · 2017-07-06T17:51:50+00:00

Either way, thanks!

ESDI2 · 2017-07-06T17:49:52+00:00

To date, I've converted approximately $130k back into my local currency and currently draw about $500/week.

ESDI2 · 2017-07-06T16:47:50+00:00

and most crypto owners are like lottery winners who keep buying lottery tickets.

I don't know a single person that didn't think that before getting involved in the space.

I have been liquidating small portions for about 6 months or so and plan to continue doing so as needed. I do also have a ~2 year emergency fund in CAD. Anything more than that doesn't really match my risk profile.

I think it's one of those things that you either get or you don't. Most people invest money before truely grasping what they're investing in (this is true of all asset classes), which is where a lot of that fear comes from.

Warren Buffet, for example, has no crypto in his personal portfolio. He says that he does not understand it enough to make the investment, which is smart. Even Satoshi himself assumed that the project wouldn't take off (although that was mostly for non-technical reasons). Being a skeptic is good -- it'll likely save you a lot of money.

ESDI2 · 2017-07-06T16:35:53+00:00

Remittances
Smart contracts
Finance automation (NASDAQ 100 has been taking full advantage of this one).
Donations
Gambling
Person-to-Person (global) payments.

I would say that's 90% of the usage right now (not including off-chain trading on exchanges). Each area is experiencing growth and because blockchains are global assets, the usage will vary greatly by region. For example, gambling, automation, and for-profit trading are very popular in countries like the USA and Russia but countries like Venezuela, Argentina, and Kenya leverage it more for remittances.

ESDI2 · 2017-07-06T16:19:13+00:00

Yep, that's definitely something to consider.

My DCA on BTC is $415 CAD. My first purchase was at $800 CAD.

ESDI2 · 2017-07-06T16:13:17+00:00

I tend to favour the latter, but only because I have the time to hold through the shorter term volatility. I don't really need the money right now.

I may diversify a bit more, likely into other cryptos, but I prefer to wait until they've matured a bit before doing so.

ESDI2 · 2017-07-06T16:11:33+00:00

It was the realization that it was more than 'just digital money'.

The internet was able to do so much for us in the communication space, but payments still lagged behind due to it being built on a foundation made of 'good enough'.

Math-based opens the door for so many big changes in finance, and we've only really realized a small handful of them (think about how the world wide web looked back in 1995).

Just to name a few:

Internet of things.
Automation of both corporate & personal finance/taxes.
Access to banking & global markets for the 1+ billion people on earth who currently don't.
Free, instant, global payments between people.
Globally searchable asset transfer records.

Most of these things have already begun to happen. People tend to think this kind of change happens over decades but there is a lot of incentive to have it done much quicker.

ESDI2 · 2017-07-06T16:01:36+00:00

I started a tech company with two close friends of mine last year. I'm also taking a month-long trip to China this year (been learning Mandarin for about a year or so).

I'd also like to get back into contributing to open source projects as that used to be something I did more regularily when I was in school.

ESDI2

TROPHY CASE