Author: commander

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Is Bitcoin Dead?

With the FTX debacle, all the Bitcoin haters, like Charlie Munger (Warren Buffet’s partner at Berkshire Hathaway) and Jamie Dimon (CEO of JP Morgan Chase Bank) have all seized the moment and declared Bitcoin a fraud, a scam, and “AHA” that they were right to trash it in the first place.  Bear in mind that they are traditional investors, and Bitcoin, the “new kid on the block”, is not traditional.

The intelligent investor
The Intelligent Investor Rev Ed.: The Definitive Book on Value Investing, from Amazon

Bitcoin is still the “wild frontier” of modern finance, and is going through some growing pains as Bad Actors like the founder of FTX, Sam Bankman-Fried, are being extradited to the US to answer to the Congress and the SEC.

I put to you that the problem here is not Bitcoin, but the people who will take advantage of investors in their crypto-currency exchanges, just like there are criminal bankers and fund managers.  The blockchain will have all of the transaction records, as it is designed, but the bad actors are using the unregulated ability to hide the non-blockchain transfer of assets from Crypto currencies to (Lord knows where) offshore accounts, donations to political parties to curry legislative favor, and more.

The Dark Side of Bitcoin: From the mechanisms of the Crypto-Currency to its criminal employment in the Dark Web
The Dark Side of Bitcoin: From the mechanisms of the Crypto-Currency to its criminal employment in the Dark Web

Clearly there is a need to regulate the behavior of crypto currency exchange managers, large investors, HODL’ers, and others who use international transfers and an egregious lack of transparency to hide their thievery and illegitimate profiteering.  History shows us that the next Bernie Madoff is coming, and can bilk you with Bitcoin or conventional stocks and bonds.

While US investors may have some recourse when criminal activity is involved, this problem spans the world as Bitcoin and related Crypto currencies can be converted into almost any fiat currency.  And then can be folded into conventional transactions to evade detection.

This is a dark time for Bitcoin and it’s advocates, who once extoled the low-fee transfer and blockchain-secure ledger that was the compelling reason to move assets into Bitcoin.

Any company planning large scale Blockchain projects may reconsider, until there is a governing body and real penalties for criminal behavior.  Not to mention some transparency and adherence to GAAP.  (Generally accepted accounting principles).

Personally, I don’t think Bitcoin is “going away” or “dead” yet – it just has not matured to the point where regulators know how to manage it’s risks and proponents; both legitimate and criminal.

Beyond Blockchain: The Death of the Dollar and the Rise of Digital Currency
Beyond Blockchain: The Death of the Dollar and the Rise of Digital Currency, from Amazon

 

 

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Time to buy Dogecoin

https://accounts.binance.us/en/register?ref=54634442

Dogecoin is getting a lot of press these days.

In fact, all crypto currencies, from Bitcoin to NFT’s are getting a lot of press, and each tweet and market high drive the internet wild.

I used to mine Dogecoin about 6 years ago, and sold it all (no regrets, my crystal ball is not working all the time).  Today I am buying Dogecoin – Not a lot, just keeping my hand in the game.  But my go-to exchange, Coinbase, does not handle Doge (at the time of this writing).  So I decided to open an account at Binance, and buy some Doge again.  I had to create an account, which required some serious verification.  I thought this was a pain, but I realize that crypto currencies are unregulated.  So being absolutely sure of your identity keeps your coins secure and free from thieves who would happily steal your wallet and all the coins in it.  It took a few days to get verified, and link my bank account,  but now I have Dogecoin again and am a happy camper!

Binance is an “exchange” for Crypto currency, which means you can exchange Dollars ($USD) from your bank account for a variety of cryptocurrencies.  Once you have Dogecoin, you can Hold it, buy more, sell, and convert to other cryptocurrencies.  You can also transfer some of your Dogecoin to a doge wallet on your cellphone or Computer.  Dogecoin Wallets are available from Dogecoin.com 

Dogecoin
Dogecoins – available in physical form (no crypto value) from Amazon)

So if you want to get in on the Dogecoin fun, I recommend Binance for Dogecoin.  You can also get your Bitcoin, Ethereum, Litecoin, and many others as well.  The link is : Binance.us

My recommendation is that you accumulate coins with an ounce of caution, as Doge is Volatile and its good to play with, but don’t go “all in” or buy a lot at once.  wait for a drop in price, and buy what your budget can afford – Crypto currencies are known for volatility and risk, so invest a few bucks for fun.  It’s not worth losing your emergency fund or house to get into doge, regardless of how passionate you may be about it.  For example, I only bought $150 worth of Doge.  I may buy more.  But a loss of $150 will not be a “life altering” loss of money for me.  and if it doubled, well, it may not be like a lottery win – but I would be as excited!

One tweet about buying Tesla cars with Dogecoin or any press about dogecoin can send the price spiraling up or down.  This volatility if both exciting and heartbreaking as we don’t know which way the market is going.

Josh Wise Dogecoin NASCAR Car
Josh Wise Dogecoin NASCAR Car, 1/24 scale model, now a collectors item – and yes, I own one!

If you want to try a Dogecoin Faucet, where you can play games to earn Dogecoin – I use and recommend Rollercoin.  It is a 5 year old faucet that is fun and can get you some free crypto.

https://rollercoin.com/?r=ko09tont
You can get free Dogecoin at Rollercoin

Now you know where to buy some Dogecoin (and others), so take a look and see about signing up!  To the Moon!

https://amzn.to/3hqiZ6d
Doge “to the Moon” T-shirt, available on Amazon
https://accounts.binance.us/en/register?ref=54634442
Crypto exchange featuring Dogecoin
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Is it time to buy some Dogecoin?

I bought $100 worth of Doge yesterday.  Elon Musk (now being called the “Dogefather”) is sure to be mentioning it on Saturday night live this Saturday.
The internet is losing its mind over this, with all kinds of posts – here is a smattering:
“Dogecoin surges to New all-time high Following eToro listing”
“Doge in the Game – The Oakland A baseball team will let you buy tickets with Doge”
“Doge is set to make it’s pop Culture debut pm SNL” (reference to May 8. 2021 show)
“Elon Musk will be on SNL in a skit nicknamed “The Dogefather”
If you buy into the hype, as I have, I may be selling it (except for any anticipated profits) next week. (I am already up $36 since last night)
A search on Reddit will bring up a lot of articles – Redditors are going gangbusters on Doge.
Not everyone is happy about Elon Musk appearing on SNL (doesn’t seem to be about Doge)
and
In my opinion, SNL has become a Saturday night staple, and used to be a lot funnier than it is now, most probably because it is less edgy and “fresh” than it was years ago.  I imagine that the current cast members are being pouty instead of funny – now that Elon Musk is taking all their oxygen.  If I am right that is pretty sad.
Have a great Day
and
TO THE MOON!

Disclaimer;

Please do your due diligence and research this information before making any investment decision.  Just because it works for me doesn’t mean you should buy it – This is not a recommendation, just a summary of a cryptocurrency I like and hold in my portfolio.
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Free Bitcoin by playing games?

All of us are seeking a magic way to obtain a passive income on-line, and I too am a seeker of the magic fountain of income! (Big grin).

I blog, I do affiliate marketing, and I spend as little as possible on marketing (buying eyeballs) and advertising. my choice was to grow any income organically, through blogging, twitter, Pinterest, and other platforms where I can provide useful information and grow organically. Note – unless you go “viral”, like a TikTok superstar, that means growth is slow. I would rather be a 5 year overnight success than go broke advertising mediocre content. I still don’t make more than $40 USD most months, But it has been growing, and I don’t spend all day posting. I know if I did this for 2–3 hours every day, I would easily quadruple that income or more, as I became more proficient.

Recently I found a way to add to my income and get into Crypto currency, which is becoming more and more mainstream. Most of the Bitcoin faucets are scams, and should be avoided at all costs. I also urge you not to invest in any faucet until it has proved worthy. This means it has been a live site for several years, has almost no negative or scam reviews (do check it out, even if I say it’s good, reputations can change), and does not monopolize a lot of your time.

The most recent site I found was Rollercoin. With Rollercoin you can play games to win Bitcoin, Doge, Ethereum, Tether, and Rollertoken (Their own coin). This site is unique because you can use the earnings from playing on-line games to buy miners that generate coins. While the payouts are small initially, They also have a referral program (yes my link is a referral link) which allows you to benefit when you promote the site.

You also can withdraw your coins to your personal wallet, and take them off of the site if you wish.

https://rollercoin.com/?r=ko09tont https://rollercoin.com/?r=ko09tont
sign up here by clicking on the image

I was impressed that there are several videos and reviews on-line with tips on how to use the site, which can be found with a basic google search.

While I know this is not for everyone, I want you to give Rollercoin a spin, and see if you can earn some crypto for fun – I am playing around with it and I am not a big gamer. hopefully you will enjoy it and even profit.

Thank you for reading this, and -To the Moon!

You can sign up for Rollercoin by clicking the underlined link.

Rollercoin sign up

 

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Is it time to abandon using cash money, and what do we use instead??

cleaning money Photo by Alan Chenkin

First and foremost, you need to know that I like cash.  The feel of a real coin or a dollar bill in my hand is tangible and powerful.  But the latest pandemic fears have us all worried about money transferring the Covid-19 virus; and that is a real fear. 

Update: It is highly unlikely that you will catch Covid from handling paper money, unless a Covid positive person just coughed on your money; Covid is most likely transmitted by airborne particles.  Despite this I still err on the safe side and clean my money and wash my hands a lot.  I suggest that you should too.

It goes without saying that I have a predisposition to Bitcoin, and you can even get Bitcoin with your credit card!  (link opens in new tab). 

Bitcoin is not as easy to use as credit cards and PayPal (yet) for most on-line purchases, although it works really well in person to person situations – because you can transfer money contactless with smartphones.  This will get easier over time.

If you are at a store, and you don’t want to linger at the checkout or handle change, I would recommend using google or Apple pay.  Some credit cards like chase also have contactless options.  Many use the NFC (Near Field Communications) technology on most newer smartphones.

If you use cash, and get only change in return, I would suggest asking the cashier to put it into the charity or tip  box most stores have on the counter.  that way you do not have to touch the change, and there is no increased risk of Covid-19 by touching a potentially contaminated item (physical money).

The Bitcoin Basics: A quick-start for beginners (Including where & how to safely buy and store).
The Bitcoin Basics: A quick-start for beginners (Including where & how to safely buy and store). Available from Amazon Books.

Cash Money won’t be going away, but in the time of Covid, alternatives to handling cash are necessary and may become more convenient than our customary cash transactions.

Stay safe and I wish you well!

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Cash Money, Change, Excitement, and Fear

Cash Money, Change, Excitement, and Fear of the Unknown Bitcoin.

When the US Government redesigned the $100 bill, Banks all over the world were set on by people with American Money.  They were seeking to change it to the new bills.  To an American, this is silly.  To people in other parts of the world, New money means the old money is (or will soon be) worthless.  This has a historical context.

Money and value change constantly, and throughout history we have seen many currencies come and go.  What of your Roman coins?  Payment in round pebbles or carved stones?  All were forms of currency that are no longer common or abandoned with the fall of the Empire.

Today we have seen the birth of a new form of money.  You can’t feel it or carry it in your pocket.  Electronic Currency has arrived.  Conceptualized in a paper by the mysterious Satoshi Nakamoto, the creator of Bitcoin, the “gold Standard” of cryptocurrency.

 

Cryptocurrency, like any new form of money, has purpose.  Proponents say it is the “next generation” of money and financial transactions.  Since it is “peer to peer”, and can be transferred person to person directly, without passing through a central clearinghouse or central bank.  Fees are low, and the transactions are immediate.  OF course, when easy transfer of funds is available, a certain “sketchy” element of society (money launderers? Drug kingpins? Arms Dealers?) finds it attractive.  Bitcoin achieved star status with Silk Road, a defunct website trafficking criminal materials and ungoverned commerce in prohibited (illegal) products.  The US Government acquired 25 million Bitcoins in the aftermath of the criminal investigation.

 

The Dark Side of Bitcoin: From the mechanisms of the Crypto-Currency to its criminal employment in the Dark Web

The Dark Side of Bitcoin: From the mechanisms of the Crypto-Currency to its criminal employment in the Dark Web – From Amazon books

 

Thus we see that Money is interleaved with governments, criminals, profiteers, history, and an underlying concern that your money may be worthless or converted to something else.  No wonder proponents of bitcoin have the zeal of missionaries, and enemies of it are passionately opposed and eager to see the Bitcoin “house of cards” come crashing down.  It is a fear that the current paper money might be as worthless as confederate dollars.

Bitcoin has survived almost four years.  I don’t pretend to have a crystal ball, but instead of being afraid, I am going to enjoy the show.

Bitcoin Stickers – For Home, Car, Laptop, more! On Ebay

Consider these books on Bitcoin (from Amazon):
How to Start a Crypto Portfolio – Robert Leshner – Medium – Medium
Should your portfolio include bitcoin? Yes, but just a 2% position, says analyst – Marketwatch
Bitcoin: Mastering Bitcoin For Beginners: How You Can Make Insane Money Investing and Trading in Bitcoin (Bitcoin Mining, Bitcoin trading, Cryptocurrency, Blockchain, Wallet & Business)

Thanks for Reading my Blog on Bitcoin!