Have you used bitcoin before? You need to try it. It doesn’t cost hundreds of dollars to get started on your personal bitcoin empire. Continue reading “The foundation of your bitcoin empire.”
Are ICOs donations?
I would say no to this question. In my opinion, these tokens are creating a loop. First, we had crowd funding where one person would give/ donate another person bitcoin (to do some project) and that would be the end of the financial transaction. Now we can give the original donor a token and it becomes more of a value for value transaction and possibly an investor. Now, they can go on the market and get something for their token which should hopefully be more than zero. As the markets get older, there will be investors with stronger hands looking to get tokens at the market bottom price as well.
Will people still create scams? Yes, but now each project could have a market where people could get partial refunds if they get cold feet. Keep an open mind.
So I hope the good guys keep creating small projects that bring value to the world and I’m going to keep investing.
Protip, bitcoin tipping to content producers
Protip is a Google chrome plug-in that manages a bitcoin wallet and collects bitcoin addresses from websites that you visit with your browser. Continue reading “Protip, bitcoin tipping to content producers”
Microsoft rewards (Bing) to Bitcoin
I am going to try something new. I signed up for Microsoft rewards with Bing search engine. After 10 searches a day you earn 50 points. After you get enough points, you can buy Amazon credit from the Microsoft rewards. Using Purse.io, you can buy items for people with your Amazon credit and get Bitcoin in exchange. One reason to do this is because the value of bitcoin tends to go up over time.
TOR for credit cards?
I had an idea one day that maybe Purse.io is like The Onion Router (TOR) for your credit card.
TOR hides Internet activity by allowing a network to pass each other’s requests to the server and back to the user. So when you are part of the network, your requests are not your own and someone else’s requests are not theirs. This adds a layer of protection back to the web for some people. As all companies try to collect valuable data on who uses their services but some fear the information could be used for negative purposes.
After using Purse for a while, my Amazon suggestions started changing because I had bought varied items for other people in the USA and Canada. This is a good thing for people who are worried about “Big Data” knowing about all of your purchases. I guess if someone really wanted to know the truth, they could track delivery addresses instead of purchases, though.
It is interesting, but I guess that is as far as the idea goes. This is just something else to think about and another reason to consider using bitcoin.
Build your Bitcoin empire!
You should be building your own bitcoin empire. Even if you only put an hour a week into it, it would be time well spent. You should gain several sources or contacts to receive bitcoin from as well as considering a weekly savings plan of a small amount.
You also need to learn several places that you can use bitcoin. When you do both of these, you will hopefully start to see the value of dealing in this new currency on the side.
#TheFlippining
This hash tag seems to be centered on bitcoin and etherium switching places in market capitalization which is calculated using total coins available multiplied by the current market price. Etherium ha some questionable things about its initial release and ether is not meant to be a currency, but a fuel for the smart contract platform which is also used for ICOs..
There are other places to look for this technology. Rootstock is meant to be a smart contract platform that will run on bitcoin and there is also etherium classic (ETC) as viable future alternatives.
The way that I trade alt-coins for fun
The real value is in bitcoin, but a lot of us like to speculate in this market. I found this technique on a VLOG by Trevon James. [Quad Squad] I guess it was his friend Craig’s suggestion. I don’t use the Jaxx wallet, but I was able to adapt the idea to Coinigy. I think of this as one of those new fidget spinners. It keeps you out of trouble by keeping you balanced and busy. (Warning: Trevon does let some curse words slip in from time to time)
So I use one account on an exchange with a lot of alt-coins available. I bought a balanced supply of 4 alt-coins. I use Coinigy to keep an eye on the total balance where ever I am. When a coin’s bitcoin value is up over my alloted amount, I sell some to bring the balance down to the allotted amount. When the coin value is down, and I have some spare bitcoin, I buy back in up to the allotted amount. It is also good that the trading fees tend to be around 0.25% which makes it affordable to make many trades.
Traditionally people try to find a “bottom” of a market and go “all in”, but this balanced approach pushes you to buy and sell only a little at a time. You can do this with dollar value or bitcoin value depending on what platform you use and how you make it work for you.
So far, this idea is working well. The account is up in bitcoin value (so far) and I get to participate in daily trades. This account is only 10% of my holdings, so I can afford to loose it all. Another risk that I forgot to mention is that there may come a time where you can’t recover your coins from off of an exchange because of an event like a hacking. This is another reason to use only a mall portion of your total bitcoin holdings.
If you want to do more of a traditional trading approach, I suggest you go to The Rational Investor.
Downside risk
While investing, one thing to try to protect yourself from is downside risk. What happens if your investment looses value?
One thing that I have tried to do is invest in projects that return fiat/cash monthly and buy bitcoin to pay me back. That way, if the market price of bitcoin drops, these investment would buy more bitcoin at the cheaper price to add to my collection.
Another point is that selling bitcoin for fiat/cash is not it’s only use or way to get out of bitcoin. There a companies that accept it for payment. I like to use Purse.io and have people buy Amazon wish-list items for my bitcoin at a discount!
What gives bitcoin value?
The value of bitcoin is a difficult question because so many miss it the first few times they hear about bitcoin.
- One value is a set supply. This helps to build confidence that this token will be scarce in the future. There will only be 21 Million bitcoins according to the software today. We are not quite sure how many dollars the federal reserve has created since it was found out that they created secret loans to corporations during the 2007 financial crisis.
- Another value is uncensored transactions. Today it seems that more and more people are not allowed to make transactions with others according to the powers that be. You might even say that we may be creating the enemies of the future by denying them the ability to transact in the present.
- Bitcoin grows in price and value as more people are able to transact inside the network and less people need or want to convert the bitcoin into fiat/cash. Though, there are people who buy bitcoin to look to “cash out” later with great fortunes. Others say bitcoin will crash to zero as there are not enough dollars to hold the price up to the market price as everyone trades back into fiat/cash.
- We are the value. As we continue to transact inside the network, the network gains value. Imagine a small community who trade gifts as they help each other create things of continued use for the group. If their basic financial needs were able to be met, you could start to see the wealth of the community grow.
These are the things that I have learned in my time with bitcoin. I hope they help you to think of bitcoin a little differently.