I’ve been retired for quite a while now, but the way things are going I need to explore means of proactive income. Cryptocurrency seems like a good way to do that. I’m twice as stupid as I used to be, so it’s gonna take me a while to learn all the ins and outs but when I do, I’ll share them here.
Interesting POV. We’ve seen some evidence of this with Putin et al shutting down exchanges and banning ICO’s until they can realign their financial structure to accommodate crypto until they can use it for their benefit.
Those who see governments banning ownership of bitcoin are ignoring the political power and influence of those who are snapping up most of the bitcoin.
To really understand an asset, we have to examine not just the asset itself but who owns it, and who can afford to own it. These attributes will illuminate the political and financial power wielded by the owners of the asset class.
And once we know what sort of political/financial power is in the hands of those owning the asset class, we can predict the limits of political restrictions that can be imposed on that ownership.
As an example, consider home ownership, i.e. ownership of a principal residence. Home ownership topped out in 2004, when over 69% of all households “owned” a residence. (Owned is in quotes because many of these households had no actual equity in the house once…
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How do I purchase Cryptocurrency?:
There’s several ways ranging from convenient to “oh dear god why did I get into this?”
I’ll start with the easy stuff first. First you need to select a digital asset exchange company like Coinbase. [I’m not recommending you use this particular one, I’m just using it as an example.] Your exchange will function as an interface and an online “wallet” to store your bitcoin. When you sign up, the exchange will offer you a range of options starting with a routing address to your bank account of choice. If you go this route, I’d recommend starting an account separate from your regular finances. It’s easier to track and should there be a problem, it won’t bleed over into your day to day banking. It’s also possible to use a credit card or debit card, and some exchanges will also accept Western Union, and pre-paid cash cards. Remember, the further you get from the bank, the more privacy and anonymity you have. It also decreases convenience considerably. You’ll have to decide what you’re comfortable with as you go.
Next you’ll need to do some research. There are myriad altcoins out there, some are reliable, some are not. Your goal is to buy low and sell high. With that in mind, I’d get in on a coin other than Bitcoin unless you plan on buying and holding long term. Solid altcoins to invest in are, Aragon, Augur, Dash, Decred, Eos, Etherium, Gnosis, Golem, and Litecoin.
The value fluctuates much in the same way stocks do on Wall St.
Same chart embiggened to 24 hours:
You’ll note that one Bitcoin is equal to $5673.78 USD and that its value has increased in the last 24 hours by 13.27%. Let’s look at Dash, an altcoin of lesser value:
One Dash[coin] is worth $300 USD and has risen in value by 2.3% in the last 24 hours. So an example of a beginners buy in would be to watch for a dip in value on the chart and buy, then hold to sell at whatever threshold you determine to be within your risk assessment. You will be able to covert your profits to an upper scale coin like Bitcoin, or you can cash out in USD or your fiat currency of choice.
Legal Disclaimer: You use any information you get here at your own risk. DO NOT invest in cryptocurrency without doing YOUR OWN research first. Any decisions you make are on you, don’t go blaming LHB if stuff goes wrong.
What with all the research I have to do to “brain” about financial stuff, I end up aggregating a lot of print journalism. Well, when I say print journalism, that’s what I’m HOPING to find, but like the recent article I wanted to read on Fortune [Mag?] what I get is autorun video. This particular video had absolutely nothing to do with the article banner. So, I click to close the video. I scroll down and the video starts to load again. Scroll up, close the video. Scroll back down. Oh! Oh! There’s the popup e-mail subscription. No thanks. Close that. Scroll further down, here comes that phuquing video AGAIN in a small screen. Now we get to play find the hidden close button. All in all, I’ve spent as much time with useless nonsense whack-a-mole as I have reading the article.
Oh, and be sure to “whitelist ” your adblocker, so you can play.
This is my brain on Cryptocurrency. 5o years ago, it would have been ho hum. There’s a lot of information to get your head around. The technology is still new enough that the gui innovations that make Windows [MicroSoft] a smooth experience for users of all skill levels, just has been developed for Crypto. The instructions and set up can be Byzantine. There’s a lot of room for things to go oops, so before you buy or sell any currency, please do your homework first. The transactions are irrevocable once put in motion.
Or get your tech savvy niece or nephew to do it. It’ll be a snap for them.
That’s the first logical question to deal with for those like me who haven’t heard of it before. I’m still not completely up to speed on all the ins and outs so this video will possibly be useful in explaining better than I can at this point. It covers a little history, talks about the blockchain, and other stuff you might find interesting.
Here. we. go.