Crypto Lunch set out to privately turn blockchain posts into meals, then back into posts again, but has failed to find any reasonable way of doing so. We began by identifying the problem:
Crypto MUST be able to function WITHOUT identifying the user (privacy) and without involving governments, corporations, or banks (decentralization). 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!
A potential solution appeared:
While accumulating crypto to conduct a trial run (and report in detail on the results), steem-engine.com stopped allowing private exchange of tokens, and I discovered there's no private way provided for converting STEEM or HIVE into BTC.
Losing steem-engine income - and functionality - wasn't helpful, but the inability to privately convert blockchain income to Bitcoin was a potentially crippling blow to the solution:
I devised a workaround to get part of my earnings (my HIVE) into BTC: send them to hive-engine.com, convert into the BTCswap token, and withdraw that to my BTC wallet. It's clunky, and there's a 2% loss to fees, but all we need is a way through, and we can worry about efficiency later:
Brand new problems
Not only are the current issues unsolved, but there are two new developments in the way of our progress! One, bullion has doubled in price, and most online dealers are sold out, or have months-long wait times. And if that wasn't bad enough, the test payment from BTCswap tokens in hive-engine to my private Bitcoin wallet never arrived, and I don't know why. That means the expensive workaround isn't even available to us:
Feedback
Feedback from the community has been overwhelmingly positive. I'm not widely-read, but those fine folks who do follow me have been very supportive. A few offered advice, tips, and suggestions and in some cases they ended up being useful. This has been a team effort, no doubt about it.
I'd like to share a comment from 2 weeks ago (there was no episode last week), that comes from somebody whose opinion I value:
That's real talk. Essentially, privacy is going to happen for crypto users in the future, but rarely does at the moment, so efforts to find private pathways are important. I appreciate that, but even so...
On Hold
As you read in the title, I'm putting the series on hold. I decided that before reading the above comment. And I agree, we're doing good work here. But right now, there's no private pathway available to us, and there's no bullion available to make that part of the process flow, so we're stuck. As always, I'm open to investigating new avenues if/when they happen, but the trend appears to be going toward less privacy, not more. I'll believe it when I see it.
Also, the progress I've made with this series has been slow, and I find myself discouraged. Not just a little, but to the point where I'm stressing about it, and to be honest, I'm already under a lot of stress. There's the societal shutdown, my undiagnosed health problems, my wife's disability, and a baby on top of it. Maybe I'm not the one to carry this forward? Or maybe something good will happen sometime soon, and I'll revive the series?
Until then, I'm virtually putting aside the funds earned via Crypto Lunch posts. I consider them earmarked toward funding that meal, whenever a private way to do it is available!
Imagine the influx into cryptocurrencies if they actually offered privacy and decentralization? I'm unable and unwilling to use privacy-destroying currencies that rely on banks, government, and corproations. I bet I'm not the only one withdrawing to the sidelines until crypto gets its act together!
To be honest, I find myself wishing my crypto funds were in gold or silver bullion, under my bed. I feel like if things don't go well in the future, I'll never get ANY value out of ANY of my crypto, which means I will have wasted at least 3 years of my time.
That JPG file is about the most tangible thing I've received on the blockchain for my effort, expertise, risk, and years. Now, I have to sit on my various wallets and apps and platforms, in the hopes that trends will reverse, and privacy will return to the crypto realm.
Lunch Budget
The previous post (week 7) brought in 6.46 HIVE and 1.71 STEEM, so that much has been added to the totals.
BTC: 0
HIVE: 99.87
STEEM: 18.74
CAD: 0
USD: 0
We made it about 1/3 of the way to the first Crypto Lunch. The funds will be saved for when Crypto Lunch resumes.
What this says about my overall attempt to monetize my content-creation isn't very promising. If I can't figure out a way to privately use crypto to buy myself a meal, how am I ever going to pay the bills this way? Let alone actually get independent, save for my old age, and give my son everything he needs to thrive? Shouldn't a hard-working and somewhat talented writer, photographer, videographer, editor (etc) - who creates content people view - be paid for it? I think so, and I know there are many others who agree, but at least for me, at least right now, it's just a dream.
Who knows what the ongoing crypto bull market will bring? The next several months should be very interesting, and if the previous bull markets are any indication, new services, products, and pathways will be created at record pace. So, who knows?
In Liberty,
DRutter
Posted Using LeoFinance
I too have been frustrated by privacy issues. I think Privacy coins will gain more and more traction in the future.
One coin I have been interested in is fairly new and small but they seem to have good development and a couple of exchange options with no KYC requirements. It is also cheap and has several methods of earning more.
Decentralized Anonymous Payment System (DAPS) https://officialdapscoin.com/
This is not investment advice, but I am investing in them myself. ;-)
None of this solves your private entry problems and I wish I could say I have cracked that nut, but I can't.
Sounds like you need to convince some local grocer of the benefits of a privacy coin :-) Then you could convert your HIVE to that coin on an exchange with no KYC and send it to your private wallet. Pay for groceries from your private wallet.
I know, I know... pipe dream, but where there's a will there's a way :-)
Posted Using LeoFinance
Thanks for your comment. It's true! There's definitely a will, so at some point, there will be a way. I think various independent and maybe small chains will start accepting crypto in some manner (if not directly, then through some sort of 3rd party payment service). That would suit my needs (it's fairly private and decentralized) and it would certainly skip several steps! No need for the whole bullion purchase, for example. I'm keeping my fingers crossed that it happens soon (perhaps this coming bull move?), and that privacy (or at least the option for some privacy) is built in.
That's too bad! Hopefully it can start up again soon...
Sad there seems no way ahead at this time. Yep I sometimes feel like this crypto stuff has just been a waste of time but then I have had a go and continue to learn.
Yeah, I don't know if it was anyone's plan, or if it's just working out that way, but most of the crypto world has become very conventional, all about smart devices and banking and corporate apps etc. That wouldn't be such a problem, if there was also a way to do things privately, but there isn't! Crypto needs to get itself sorted out - before the next big rally would be best!
Yeah. I'm still hopeful, but I'll believe it when I see it. I guess too many things have fallen through for me in the past sevreral years, each "sure shot" ends up as pure shit, all promises have been broken, and nothing is as it should be. I want it to happen, but right now it isn't. Call me cautiously optimistic.
And thank you for your support.
I know how it goes mate I have had so many things that should have been a good thing only to continually get deeper in the hole☹️