Currently, there's no established pathway to privately convert from digital crypto to physical fiat currency. Since what makes crypto "crypto" is privacy and decentralization, there needs to be a way to use them privately, and without centralized systems like government or banks! My 'Crypto Lunch' series has identified that problem, proposed a solution, and is now accumulating crypto for a test run. Follow along with us!
In the first 3 Crypto Lunch episodes I identified the problem:
"Crypto" MUST be able to function WITHOUT identifying the user (private) and without involving governments, corporations, or banks (decentralized). There's NO way to convert Bitcoin to cash without identifying oneself. I believe this is one of the main issues preventing mass adoption of cryptocurrency!
And in week 4 I proposed a potential solution:
Buy bullion online with crypto, and sell it for cash at a local dealer! Privacy retained, not too expensive, not too difficult.
It has been done before!
This clever workaround was confirmed as "working" by the awesome @KerrisLRavenhill, who has used it successfully, but warns that there are few Canadian options (perhaps just one main one - SilverGoldBull), so if anyone knows of more, please let us know! She also cautioned that fees sometimes aren't clear up front, and can be excessive. When I go through the process, I'll document and post a detailed cost breakdown. But it's good to know it's doable!
So NOW what we need is to pool funds to make a minimum order. We have a plan. We just need more crypto!
Lunch Budget
Last week's posts won't pay out until tomorrow, so they'll be added to the budget in next week's post.
But I can already add the 21.25 HIVE (5 HBD) pitched in by @Kunschj! Thanks buddy! I also got a 0.43 HIVE (0.1 HBD) "TipU" payment, and then @J85063 chipped in 8.61 HIVE (1.98 HBD). Thank you :)
BTC: 0
HIVE: 47.44
STEEM: 14.48
CAD: 0
USD: 0
That's about 13 bucks, and we need around 100 for a minimum online order of bullion (3 oz). We're about 13% of the way to the first Crypto Lunch! (There's another $5 or so coming in tomorrow from last week's post payouts, so really we're already close to 20% there!)
This week, in preparation for making the bullion order, I'll move some of the HIVE and STEEM into BTC.
How to make Crypto Lunch happen
All are welcome to follow and enjoy the weekly adventure. But hopefully some curators also provide crypto to make the whole process happen! Here are a few ways to do that:
- upvote this post (on both chains if possible)
- send HIVE or HBD directly to my Hive wallet
- send STEEM or SBD directly to my Steem wallet
- send BTC directly (1NWGEhWfeg4kscoBUFNqzRT1UN7qjLgnVa)
- use a service like TipU
- send any kind of tokens to my Hive-Engine or Steem-Engine accounts
You can assist by offering information/advice, and spreading awareness of the project. Your help is very appreciated, because it will lead to more eyes on the issue, more crypto to buy lunch ingredients with, and more people learning how to make crypto part of everyday life. That's good for us all.
Thank you for reading and participating! There's no such thing as a free lunch, so I hope the crypto community feels I've earned one with this post. :)
Pea Soup
In the meantime, I harvested some tender young organic peas from my garden this week, and I made my baby a little lunch of his own!
After being removed from the pods, they were boiled gently for a few minutes:
Once in the blender, they got a good blitzing with some purified water:
The result, after 8 weeks growing and a few minutes preparation, is better-than-anything-money-can-buy babyfood, packed with proteins, carbs, vitamins, and minerals - and completely organic!
Doesn't look like much, but he gobbled it right up. When another bunch of peas are ready, I'm going to make him some more.
Once the funds from Crypto Lunch are collected and converted to cash, along with the fresh produce coming in from my garden, I'll be able to make an awesome lunch for my wife @MediKatie and I! I can't wait to reach that goal of mine - a lunch paid for PRIVATELY with cryptocurrency! Stay tuned for week 6, next Thursday.
DRutter
Posted Using LeoFinance
This is cool. We have a problem, and a potential solution, and a pathway to get there. Now we just need to scale up the payouts on these posts, and it'll become a reality! Then the lunch generated will create interest in the series, and hopefully things snowball. I've reblogged this post!
Nice one.
Great to see this post over $7 already, that's a start.
Cool idea.
There is the SPEDN and Flexa network in the states that let's Canadian users register. Soon to be available here they say. They give you credit for you Cybercoins.
There is also cred earn via uphold. You mentioned not enjoying Brave browser, but BAT tokens, Bitcoin and a few other major alts can easily be linked through Uphold and the brave browser, they have debit and credit for canadian dollar transactions.
Crypto.com has some kind of card too I am not familiar with.
I will be following this, thanks for sharing.
The problem is that Uphole requires your biometric ID, and the address where you sleep at night, in order to be confirmed, and you can't use it until you confirm it. Uphold is a privacy and decentralization nightmare.
So the $30 in BAT tokens I earned for watching Brave ads is sitting there unable to be used.
I hear they are working to get rid of Uphold, and if that happens, I might have a chance to get at those tokens.
I haven't heard of Spedn / Flexa networks. If they do something useful, and don't require me to give up privacy, I'll have a look.
take a look I have only used these services for small transactions but they do at least work, there is the option of a fake ID to which I have been considering since my bank accounts just got closed and I was offered no explanation, I don't really feel obligated to explain myself to the banks if they don't feel obligated to explain themselves to me.
Silvergoldbull.ca still accept;
Bitcoin
Bitcoin Cash
Litecoin
Ethereum
Ethereum Classic
Dash
I'm so disappointed that they don't take Dogecoin.
sounds likes a great idea .. but you should consider using another currency like ETH as the fees are way much lower then BTC when cashing it out however it is an obvious challenge in most countries now without using KYC.
Posted Using LeoFinance
Thanks for the suggestion. I currently don't have an ETH wallet. It also isn't accepted everywhere that BTC is, and I'm already dealing with very limited options. But I'll look into using it.
Ive been contemplating spending some crypto on silver lately. So many coins out there I like. Gotta catch em all. lol.