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Stocks
- Thread starter Boots
- Start date
So, this is indeed what happened. I turned around and bought some Magna and sold calls against that. Option premiums are really high ... sell some.
bigpoppa
Well-known member
between morgan stanley and elon, I have now bought some bitcoin, its got a limit on how much you can buy weekly, not sure why this is, maybe I could have gone with a different broker/exchange if I wanted to buy more, but coinbase is a pretty reputable exchange so Im sticking with them for now
Lol probably huge but the storage is a issue and hindsight is 20 20 maybe buy limber company stocks.
Sent from my couch using my thumbs
moarmoto
Well-known member
Coinbase 'should' be ok. But you should move it to your own wallet.
I was a victim of Quadriga, though only lost tiny bit. The lost amount is probably around 2k CAD with Bitcoin price today.
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Agree. I wouldnt trust any crypto repository at this point. Offline at home ftw. Now, that also probably let's you write off secure storage. I'm not sure if that is only possible with a box in a bank or if you can write off a home safe.
About double the price nowadays. If you're selling let me know!
Got any tips/guides on how to get into this? I'm not planning on buying any BTC as that boat has sailed (in my wallet's eyes), but there are other options.
bigpoppa
Well-known member
you can buy partial bitcoins
No. I put crypto currencies strongly into gambling territory as their value is based on nothing. Sure you can make money, but you can also lose it all. If you cant explain what your money is in and why it is worth something, putting your money there is gambling.
I dont care what musk says. Unless he makes a pot sized bet, why would I care? He can put 100M in and it would be the same as me investing what I find in my couch. If he puts in 10B+ (which I dont think he could as he has very few liquid assets), I may pay more attention.
As far as how to store them, I only know enough to keep a cold wallet in one safe and a recovery key in a second safe at a different location. Exchanges are beyond a nightmare and even hot wallets are far too vulnerable to be considered an investment.
You can buy qbtc.u using any trading platform and buy sell anytime the market is open.
Sent from my couch using my thumbs
Cryptocurrencies are still unregulated and based on nothing. I consider them to be pure speculation.
I've said it before ... Anything that I invest in, I can point to something which the underlying company does, or builds, and you would know as well.
I've said it before ... Anything that I invest in, I can point to something which the underlying company does, or builds, and you would know as well.
I'm not a gambler and make $2.00 bets at a horse race when I rarely go. I muse over what I would do if I had put $2.00 on bitcoin when it came out at about a dime. Twenty Bitcoin today is about $1.2 million. Like any investment, multiplying your money doesn't do much unless you put in a lot.
If a person wants to buy bitcoin instead of a few lotteries a week for the fun of the chase, go for it. It's a game not an investment. IMO.
Does anyone remember the booze chain letters?
A cousin got one. You copy the letter five times after putting your name at the bottom under IIRC about ten names. You send a bottle to the the guy at the top. Theoretically when your name comes to the top you will be getting countless bottles of booze.
He sent a bottle and only got two eventually. He was lucky to get those.
I can answer this , I've gone through a few hundred flat cars this year. It was $1.40ea 8ft wholesale FOB, my rail siding in Caledonia. Its $4.50ish per piece right now.
But you cant use the metric of yr over yr, you should be seeing 12 turns a yr on softwood lumber inventory or your doing it wrong. The desk toppers that buy/sell and hold no inventory have made fortunes, but the real risk is owning a lot of loads in transit when the price starts to go over a cliff, at least when you hold inventory you can filter new price stock with old price stock and work your way out of a position.
Panel products are crazy, 7/16 OSB wafer was $12.00 a sheet retail a year ago, I was selling at $38.00 last week , industrial rates. Plywood is cheaper than OSB.
That said, lumber companies are not a great investment point right now, so many are also deversified into paper products and they are taking a beating.
Futures aren't for the meek. I like bacon but can't afford to pay for tons of it or store it if the price tanks.
Over the years there have been some commodities that were high value / low physical volume (Fit in a breadbox) that out performed the markets. At one time TTC tokens had a good ROI. The handling can be an issue. Would the TTC have sold you a wheelbarrow of tokens?
I don't have any insight into Canada Post and rate increases but first class stamps no longer have denominations.
Lumber prices are nuts. Not buying a lot, my recollection was about $4.00 each for a 2X4 a year or so ago. The last time I checked they had doubled. I assume now triple.
Inventory is an issue as well. Who wants to stock up if there is a potential correction on the horizon?
The neighbour just had a huge sugar maple taken down as firewood. It couldn't be felled as one piece due to clearance issues. An expensive crane might have done the job but may have been worth it for the lumber.
Actually not, the tree came down because it was going to fall down due to rot.
The Covid recession is very selective.
AllistonGT
Well-known member
Furniture grade lumber hasn't been affected compared to building grade soft lumber. I would hate to drive nails into a maple 2x4.
I know a guy that had his roof re-shingled. The roofers didn't know the original builder cut down oak trees and milled them for the roof boards. Pre drilling every nail killed any thought of profit.Furniture grade lumber hasn't been affected compared to building grade soft lumber. I would hate to drive nails into a maple 2x4.
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