Quote from: ArticMine on March 15, 2016, 09:19:18 PM

Quote from: explorer on March 15, 2016, 08:32:23 PM

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The trouble with CDN is that (despite the recent bounce ) it is on a downward trajectory against USD. Holding it is a losing proposition. I bought some more BTC the other day just to take advantage of what I guessed to be a CDN high mark. So far so good. That BTC is easily and quickly tradable for XMR or USD for very reasonable fees, compared to CDN in the legacy banking system. Days and days to transfer with many times higher fees. WTF. Might as well courier bullion. CDN limit buy BTC right at market, then after a couple dollar rise (typically within a few hours) to more than cover fees, into USD where it can more safely wait for an entry point that I like. Covoluted, but I dislike losing 1% overnight holding CDN just because oil dropped 50 cents.

You mean CAD. For someone in Canada I would argue that holding CAD can make sense over USD, especially if the idea is to hedge a significant XMR position. My take is that the over the medium to long term the fundamentals of the Canadian economy are stronger than those of the US economy, the Canadian banking system has historically been safer than the US banking system and last but not least CAD does not have the loss of reserve currency status risks associated with USD. When holding gold was made illegal in the United States in the 1930's many Americans kept their gold in Canada. The social and political risks can also be lower in Canada that in the United States.

As for XBT when it takes a day to get one confirmation from the Bitcoin network, as has recently been the case, the legacy fiat banking system actually becomes competitive,

Ultimately this is about one's comfort level. My comfort level is stronger with the smaller currencies, XMR and CAD than with the larger currencies XBT and USD.

Edit: I am not interested in day trading here but rather in holding over the medium to long term.

Unfortunately I don't hold a significant position in anything to hedge right now, though I'm getting a foothold again this last year or so. For what I do have, I feel that CAD is a poor choice in the next 6-12 months at least. As a resource based economy, we are in a world of hurt. I have zero faith in CDN banks or government; they think they are going to grow the economy by doubling down on infrastructure spending, while resource markets dwindle to nothing Roll Eyes

I disagree on the long term. CDN economy either goes drastically down before the US, or with it. It certainly will not stand without it. If When USD starts to crack up, its time to divest ALL fiat, because not only is the world on fire, but the fall into the sea has begun. I don't see that happening inside of 12 months, though I wouldn't want to bet on anything over 24 months at this time. There is still considerable capital inflow to USD, and more to come as the world burns. Interesting Times, to say the least.

XBT has been questionable to me since it's fungibility came blatantly into question with coinbase et al and has not reassured me since. That doesn't preclude a new XBT bubble, however, as market valuations have little to do with fundamentals, it seems. Every day the case for XMR gets reinforced by TPTB, as capital controls, taxation, and surveillance spiral out of control. It may be wishful thinking on my part, but aside from tangibles, there is no better choice than XMR. Profit is incidental, though growth is necessary for the security and longevity of the project. All we can do is position ourselves as best we can to survive and prosper. Most people won't, but hopefully enough recognize the potential here to build a thriving economy outside the flames of the legacy system.