Decisions, Bitcoin, Inflation and #MoneyTalk

in Best of, Random Thoughts

This past week my wife and I celebrated our 32nd year of living in Ottawa. When we first moved to Ottawa in 1986 I was sure we would be here for only a year or two. All our friends and my wife’s family are near Toronto, so I was sure we would decide to move back, at some point. The problem was that decision was never made, so by not making that decision, we decided to stay in Ottawa. In life not making decisions, is still a decision (and some folks never quite figure out that philosophical point). Keep this in mind when you cannot decide things financially, your lack of decisiveness is a decision.

DecisionsFor those unaware Michael James (friend of this site), knows his algebra, computers and cryptography, so I have waited for him to write about Bitcoin, and write he did this week. As usual his article is pointed, and excruciatingly on the mark for those who want to dabble in Cryptocurrencies. Yes, I have called you an idiot for investing in Bitcoins, but now you are hearing from someone who is an expert in the area, he thinks you are an idiot too. No he doesn’t call you an idiot, but you can plainly read that is his sentiment.

The Bank of Canada says Inflation has returned (given gas is $1.35 a litre in Ottawa, I tend to agree with that statement). Even though they held their overnight rate at 1.25% they also warned that Inflation is here and they will need to react to it soon (in a separate statement):

Assuming our forecast remains on track, it is Governing Council’s view that interest rates will need to move higher over time to keep inflation on target.

Does this mean that Interest Rates will be going up soon? The Magic 8-Ball of Personal Finance replies, “Signs point to yes”.


My Recent Writings

Does a Credit Card Appear Out of Nowhere? That is the question that came to mind when my daughter told me about a credit card that appeared on her on-line banking page, but she never did apply for one. How is that possible? Best read and see how that happened.

Micro Blogging for Motivation

John Young and I were at the University of Waterloo at the same time, we caroused a few times together, and he is even somewhat related to me (he is my wife’s cousin), but the fact that he ran the Boston Marathon is amazing. The fact he is going to then run many more marathons this year, is even more amazing. What does John normally do? He is a Math Teacher.


Financial Decisions

The Spring in Ottawa may be here (for a day, then Summer will start), but while it is here, let us enjoy it.


Finance is Personal

Kerry from Squawkfox chats on a very interesting show called Finance is Personal.


Retirement Spending Explained

If you need help on how your retirement spending will work, allow me to offer you this simple example.


The New 2018 Random Thoughts

My RSS feed is available.


Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

{ 7 comments }

{ 7 comments… add one }
  • Jean S May 23, 2018, 4:59 PM

    I stopped taking interest in Bitcoins when it felt like I was gambling more than investing. There is absolutely no way to predict where the trend will go and even if you study the past few months’ trends, it’s completely whimsical. I even read a recent report by Bloomberg, which further makes me skeptical about investing in crypto coins.

    Reply
  • aB April 24, 2018, 12:57 PM

    I agree with that.
    My brother’s point was that he wanted to push block chain forward, and that is what he is investing in.

    Reply
    • bigcajunman April 24, 2018, 2:23 PM

      I worry about the whole Block Chain hype as well. Is a distributed ledger really that important? Maybe, I don’t know, but I keep wondering whether it solves all the solutions folks claim it does.

      Reply
  • aB April 23, 2018, 11:37 AM

    I agree that buying Bitcoin (to try to make money) is speculating.
    But my brother has convinced me he is, ‘investing’. Not in the sense of making money, but in the sense that he believes in the theory behind the purpose of Bitcoin and what Bitcoin is trying to do. He is putting money into his beliefs. [He’s not putting all his money into it, so I left it at that.]

    Random note: our discussion ended with this (philosophical?) question.
    If the dot-com bubble didn’t happen .. would the internet be as important as it is today?

    Reply
    • bigcajunman April 23, 2018, 8:12 PM

      Without the Dot Com bubble, no, as with most bubbles there was a foundation that was building, unfortunately there was a great deal of fluff too (Pets dot com?).

      Reply
  • Michael James April 20, 2018, 4:00 PM

    Buying Bitcoins is definitely speculating rather than investing. Kind of like roulette.

    Reply
    • bigcajunman April 20, 2018, 4:58 PM

      But I hear you can make money on roulette, if you have a system 🙂

      Reply

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