I am mining the crap out of this right now. Trying to find a way to get money into my cryptopia account to buy more. Id surely like to pay my house off too. It beats living in the basement for 20 years and renting the upstairs just to afford my mortgage. Sadly houses where I live start at about 500k, so Ill need a little more than 100k for my house
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Then get more into it. I am looking into liquidating other coins, and possibly a 401k pull out to just hit it hard. This thing is smoking, and worth making moves on.
I am worried about cashing out. My bank manager has threatened to close my account for dealing in cryptocurrency this last summer. So what if I hit it big, then transferred the money into my bank account and then they freeze it? Have you ever tried to get money out of a frozen account before? It is next to imposable. I have 20K sitting around, but I also do not want to lose it. Plus buying crypto is such a pain in the ass in Canada.
$500k? Well, aren’t you lucky? Housing here in Vancouver starts at $1mm for a fixer upper. :(
Which bank are you using? We haven’t had any issues with RBC.
Set up another bank account just to cash out and trickle the funds out through PayPal. How will they know crypto. Just say investment gains.
I wouldn't keep my hopes up and say I would be able to pay off my mortgage with this coin.
6,300,000,000 coins were released in ICO and many more since then has been mined. As @danile666 has pointed out in his post, the moment the ICO wallets are released, it will crash the price.
Furthermore, the total supply of this coin is 21 Billion. With 21 Billion coins that can be mined by smart phone, why would someone else would want to buy your ETN coins?
Will the price eventually rise? yes, it will.
Will you be able to pay of your mortgage? no, it will not rise to the value that you can earn massive return.
Thing is if I have 100k coins it's possible. Only owe 96k on my house. I believe it will take some time but it is still possible.
Those additional 21b coins will take forever to mine, that's how block chains work. And mobile wallets will get a few bucks a day at most per devs.
OH so you WILL be able to pay your house off if the coin hits a dollar. Hyped up moronic posting. Saw this comment, Taking my like back.
i recomend to mine roi-coin, with my crap pc i got 150+ coins a day, and i trade for 1$ ltc, it's a great deal for my shiit hardware, google it, roi-coin :)