This post is to let people in my area (Cape Breton, Nova Scotia) know about the major increase in Bitcoin's (BTC) value now that nation-states and large corporations have a clear fear of missing out (FOMO) to own some. FOMO at that level is going to drive the price higher because it has a fixed supply, unlike most countries' currencies.
I am not an investment advisor so this is not investment advice, but I am posting it to educate people in my area who may know nothing about crypto currency, but who will likely be curious about it once the significant gains in BTC value hit the corporate media.
This is the most current piece that I have found from CBC and it does not paint a very rosy picture for the Canadian dollar.
Will the Canadian dollar slip below 70 cents US?
Loonie's long, slow decline has picked up speed since Trump's re-election
https://www.cbc.ca/news/business/loonie-canada-currency-dollar-trade-1.7389839
I could not find a graphic of a Canadian dollar but this shows the United States Dollar's (USD) purchasing power since the 1920s, and it sure is not a pretty picture either.
Purchasing Power of the U.S. Dollar Over Time
Visual Capitalist Published 4 years ago on April 6, 2021 By Govind Bhutada
https://www.visualcapitalist.com/purchasing-power-of-the-u-s-dollar-over-time/
Please note, that although this is intended as information only, there is a referral link that would pay $20 CAD to anyone who buys crypto currency using the Shakepay app, and would also send $20 to me (more below).
There is a wealth of information on YouTube and the web about crypto currencies, and I have posted one of the most informative individuals, Raoul Pal, in the clip below, and then some on Shakepay and Canadian taxes and crypto.
Judging by the title of this next presentation, it must be older than three weeks ago given all the recent upswings in BTC price—everything seems to be changing now (it touched $99.3 K USD overnight). It is a long interview, but he explains everything to the interviewer: how he saw the financial crash of 2008 coming and how he warned many people, but few listened and many were wiped out. Now he is committed to educating as many people as possible. He gives anyone staying with it until the end a very good general overview of finance and cryptocurrency.
The Investing & Crypto Expert: "We Only Have 6 Years Until Everything Changes!" - Raoul Pal
From The Diary of A CEO
**
Shapepay Virtual Debit Card**
If you use my Referral Code: https://shakepay.me/r/NC8WCPA we will both be sent $20 when you make your first purchase of $100 in digital currency.
Shakepay Review 2022
The presenter below gives an excellent overview and demonstration on how to use the app. I have been using it to Dollar Cost Average (DCA) BTC, meaning that I buy a little with every purchase using the Shakepay card, regardless of the BTC price.
Initially, we get 2% back per purchase, then it drops to 1% after 5K in purchases. The app rounds up the purchase to the next dollar and that amount gets converted to BTC. There is an option to top up with each purchase, 1, 2, or $5, so it is an easy way to DCA. I collect it that way, then move it at the end of the month it to a hard wallet (e.g., Trezor found at trezor.com ) to HODL (Hold On for Dear Life).
Crypto and Canadian Taxes
The next presentation covers Canadian Taxes and she mentions some software to streamline that onerous task. I have not checked them out, but I will be for sure.
Crypto Taxes in Canada EXPLAINED!
Conclusion
I am no Nostradamus, but just like Raoul in 2008, I can see what is coming, even though there is a dearth of information in corporate media, that I expect will change once BTC crosses $100 K USD in the next few days (or minutes). I will feel better letting people who know nothing at all about crypto at least where to go to get info.
If you do get some--HODL! It is going to get very crazy!
https://www.facebook.com/photo/?fbid=10225373935030929&set=g.1467924800219822
**Good Luck With it!
HODL !
"Don't fuck this up," Raoul Pal
“A prophet is not without honor except in his hometown and among his relatives and in his own household.” Jesus, Luke 4:24, OR [You can't be a prophet in your own land]