We are nearing a crossroad for many people regarding crypto. They have enough crypto to put it to work, along with other activities, to keep growing one's holding.
In this video I discuss how, for many people, we are nearing the point where centralized exchanges are only required for an off-ramp to crypto.
▶️ 3Speak
That's an interesting topic I hadn't really noticed myself.
I still do my 250€ in Bitcoin purchase every month but aside from that, I rarely spend any fiat on crypto any more. The only exceptions are bigger things like the Splinterlands land presale where I used my holiday bonus to buy a region. But other than that (for stocking up on Leo for example) I mostly use crypto currency from other projects that I believe to benefit me less than what I'm buying.
Posted Using LeoFinance Beta
That was my intention right from the start! (Because there was no extra fiat to invest) I am saving this video to watch.
p.s. Let's make a save button for LEO posts ;) Do you hear me devs?
Posted Using LeoFinance Beta
One of the main reason I love Hive, that I can earn here, spend it here, do not give any transaction fees.
On top of it all can be done with some readable username instead of dealing with some random alphanumeric that can be of length of 35 characters or may be more.
Posted Using LeoFinance Beta
All points that lead to an easier user experience as compared to Ethereum and Bitcoin. Still not easy but less difficult.
Posted Using LeoFinance Beta
Thanks for all your videos - I've been listening to more of them on 3Speak and learning heaps.
You are ahead of the curve. In this case here is an example from someone not so far ahead (me)
This year, anticipating an economic crash caused by the plandemic I started upping my crypto holdings in April. I doubled my holdings, so 50% of my holdings were purchased this year with fiat.
Yes the value of my holdings has also doubled again from gains, but that doesn't take place until we have something to double.
And if 99% of the population hasn't even started yet buying cryptos yet, how much crypto will be purchased with fiat from this point? - I'd say most of it!
Posted Using LeoFinance Beta
That is sensible although I would like to point out that most people have no money to buy crypto, or much else for that matter. Hence, if we are looking at the masses adopting crypto, how are they going to get in when they dont have much in the way of money right now?
I think Bitcoin will clean up among the wealthy and those with means. Tokens like Hive and the ones on here, I think will have more people with the "no fiat" but lots of activity category.
Posted Using LeoFinance Beta
When the crypto world grows larger and more and more goods and services will be able to be bought with crypto, it will get interesting for governments. How are they supposed to tax anything in a purely p2p crypto economy?
Posted Using LeoFinance Beta
Well my question is how much less government is going to be needed if we end up getting to the point you state?
We are moving in the direction of a completely different financial system being formed, one that we arent exactly inviting the government into (not that they feel they need an invitation).
Posted Using LeoFinance Beta
Probably less for internal affairs. What about external security? How will the military be funded? Surely, the nuclear deterrent has to remain in place. Otherwise the Chinese and the Russians could just come in and demand everything by threatening to wipe out your cities one by one.
I'm having a difficult time seeing a pathway to a world without some sort of governments. Physical violence trumps everything. Weapons of mass destruction are the ultimate weapons.
There will still be a need for government and there will be taxes involved to fund certain things.
What I mean by that statement is the fact that the government wants to insert itself in all financial matters (seems all matters in general). The concept of decentralization is removing the third (outside) parties. This includes government.
They can control the SWIFT network; Bitcoin is a much greater challenge.
Posted Using LeoFinance Beta
I'd love to see government move away from the hands of individuals, families and networks of individuals. We are animals with animal drives. We are deeply flawed in terms of moral fiber and intellectual capacity. If large parts of the government could be replaced by a DAO, that could go along way to correct many of the flaws in the current system.
crowdfunding? lol
Posted Using LeoFinance Beta
lol
99.9% of the crypto I own were earned or airdropped. I have not needed to buy in a lot time. I mostly sell because my crypto fuels my offline project, like my property I am developing. There might come a time were I don't even need to transact in fiat. A time crypto is widely accepted. That would be a game changer.
Posted Using LeoFinance Beta
It certainly would. We need to get to the point where the ecosystem and the platforms are so wide and powerful that we rarely need to transact in fiat.
Obviously, it is likely that taxes will still require the fiat but outside that, we could develop it to the point where most can transaction, for the most part, in crypto.
Posted Using LeoFinance Beta
Accumulating cryptos without using Fiat speaks about not having to buy tokens rather earning. This method is the safest route to take in the world of cryptocurrency. When you are earning, you don't need to be scared of losses like when you accumulate with Fiat. But at the same time, it's cool to convert your fiats and store in cryptocurrency.
Posted Using LeoFinance Beta
That is true although there is the converting one crypto into other cryptos.
Here is where we can see where "losses" can be experienced, although both could gain compared to fiat.
Posted Using LeoFinance Beta
Converting crypto to crypto is still better than holding funds in certain fiats. I've lost faith in fiats like NGN
Posted Using LeoFinance Beta
The cryptocurrency that I've earned through content creation on HIVE and LEO Finance gives me the best feeling of accomplishment compared to the crypto earned or grown through mining or trading. Getting involved in this community and bringing something to the table and being rewarded for that gives me a sense of purpose and success.
My current goal is to move bankless, still have a little bit to pay back on my mortgage so probably next year I will be able to make that transition. Next my question will be what to do with my income? I have three possibilities:
What would you do and do you foress other options beside these?
Posted Using LeoFinance Beta
Getting a mortgage done is a big step.
Obviously number three holds the most appeal although I cant argue against number 2. I think over the next decade, some stocks are going to do very well. In fact, I believe as the debt starts to cause problems, the stock market will benefit.
That said, I think we have a crash before that run starts.
Posted Using LeoFinance Beta
Indeed that is good insight and thanks for sharing your vision on things. You inspired me on some of them (yes, I am a TESLA holder now) and you bring very good points to some of the topics you are addressing. Some of them are mind opening and is quite challenging to see such approaches and simply say the truth of the things!
Posted Using LeoFinance Beta
Things are changing very quickly meaning we have to adopt new mindsets about things. A lot of things are completely asinine at first glance but when they are delved into, one realizes how things make sense.
Old models are bring broken apart in every industry.
Cant argue with you on this one. I dont have nearly enough after selling a large portion of my stake on the last run up.
To be honest, I wouldnt mind a big crash in the stock market, a nice 20%-30% drop would crush TSLA down, probably wiping 50% off the price.
That is what I call a sale.
Posted Using LeoFinance Beta
The coolest thing I've seen is the crypto visa card, can't remember who has it, but just load it with crypto and use it where ever visa is taken. Would be nice to make a crypto million and just run around spending it off a visa card.
Posted Using LeoFinance Beta
Let me ask you a question, you already write quite a lot here and some of what I have read so far is good content and also interesting.
But at first sight your posts seem less professional (at least in my eyes). Why? Because the used pictures and co. do not contribute to a professional appearance.
Therefore my approach to offer this platform an added value. Would you be interested in having a personal brand developed that gives your posts more professionalism and a certain recognition value? I would think about what I could do for you besides a logo and some post graphics, if you were interested in general.
I wouldn't want to have anything for that either. Since you are very active on this platform, it might be an added value for everyone to make your posts look more qualitative.
Posted Using LeoFinance Beta
Certainly if you could do that, it would be great.
Hit me up on Discord, we can chat.
The more tools available, the better things are for all of us.
Posted Using LeoFinance Beta
Sure. Please add me on DC, can't find your contact:
st8z#4489
Posted Using LeoFinance Beta
Okay sent. I will be running out for a bit so will be on discord later.
Thanks for the assistance.
Posted Using LeoFinance Beta
I've bought 30% of the Crypto I own and 70% We're earned, the 30% was just Leo and BTC and of course a little Eth which I've later sold. The opportunities of owning and earning Crypto would be great should the future have an open market for real time business, what do you think? Of course I'm thinking regulations will surely get in
Posted Using LeoFinance Beta
I think the opportunities will keep expanding. There is no doubt newer projects will come online and people will gravitate towards them. Some will be incredible opportunities that new people many X returns. Others will fail.
That is the nature of experimentation and technological development.
Regulators will try to step in, that is true. The variable, in my view will be how decentralized things get. If a lot of this is being done on decentralized networks, using computer memory and storage all over the world, then it is hard to regulate.
A true peer-to-peer system is something that is out of the reach of all regulators.
Posted Using LeoFinance Beta
That was me and yes it was Metamask I asked you about, I was thinking of using some fiat for LBI, and to add to my SPI holdings.
I would like to keep my LEO earnings for powering up. I was just looking for ways to do that without the KYC nonsense.
Posted Using LeoFinance Beta
I haven't tried any of them but below can be ideas for you to look out (DYOR always needed.)
https://paxful.com/buy-bitcoin
https://localbitcoins.com/
Not exactly direct but can work
https://purse.io/how-it-works
But premium is always there and question always arise how much you should trust individual.
Posted Using LeoFinance Beta
Thanks, I will do some DD on those and see where it goes.
Posted Using LeoFinance Beta
I wouldnt know how to get fiat to any crypto without KYC.
That is the problem. If you had BTC or ETH, it would be easy.
Maybe someone else knows how to get fiat into crypto without it although I imagine it is hard in the US.
Posted Using LeoFinance Beta
I just found Bitcoin ATMs near me, a 7.5 percent fee. That's pretty darn steep but would be quick. I could make that fee back in no time.
Posted Using LeoFinance Beta
Your current Rank (21) in the battle Arena of Holybread has granted you an Upvote of 17%
View or trade
BEER.Hey @taskmaster4450, here is a little bit of
BEERfrom @pixresteemer for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.Well i am the person who only accumulated hive coins and I have invested in splinterlands also. Investment in bitcoin is very good but hive is also great for investment because it's future. Now you don't have chance to buy bitcoin because bitcoin is now premium. But you still have chance to accumulate some hive.
Buy Bitcoin With 0% Credit Card Fee In First 30 Days For New App Users From Crypto.com App : https://crypto.com/en/wallet.html
Buy Bitcoin With 0% Credit Card Fee In First 30 Days For New App Users With Crypto.com App :
Summary:
In this video, Task discusses the challenges faced by cryptocurrency exchanges like Binance in navigating through regulatory hurdles, particularly in the US. He highlights the discrepancy in size between the cryptocurrency market and the traditional financial system, emphasizing the need to rethink the role of regulators. Task then delves into a thought-provoking discourse on the evolution of crypto accumulation without relying on fiat investments. He explores various methods of generating crypto yields, pointing out the increasing diversity and accessibility of these mechanisms within the crypto ecosystem. Task concludes by inviting viewers to share their experiences on whether their crypto growth is predominantly independent of fiat.
Detailed Analysis:
Taskmaster starts by discussing how cryptocurrency exchanges are maneuvering around regulatory challenges, exemplified by Binance's situation regarding US regulations. He underscores the disparity in market size between cryptocurrencies and traditional financial systems, advocating for a reevaluation of regulatory frameworks globally.
Task delves into the concept of accumulating cryptocurrencies without depending on fiat investments. He reflects on different yield farming methods across platforms like Ethereum, Hive, EOS, and Steam, highlighting the multitude of ways individuals can acquire crypto assets.
Furthermore, Task explores the intrinsic value and growth potential of cryptocurrencies through user engagement and ecosystem expansion. He mentions the involvement of institutional players like Grayscale in Bitcoin investments and the positive impact on the overall industry.
Task delves into the potential growth trajectories of various cryptocurrencies without the explicit need for fiat investments. He draws attention to the significant returns possible in the crypto space compared to traditional investments such as treasury bills.
Task emphasizes the decreasing reliance on centralized exchanges for crypto transactions, especially with the increasing availability of tools and platforms within the crypto ecosystem. He mentions the growing ease of operations with tools like Metamask and bridges to other blockchains.
In the concluding remarks, Task encourages viewers to consider their experiences with crypto accumulation and whether they predominantly grow their crypto holdings without fiat investments. He contemplates the evolving landscape where crypto could thrive independently of the traditional banking system.
Overall, the video provides a comprehensive analysis of the challenges facing the crypto market, the evolving methods of crypto accumulation, and the potential for the industry to operate autonomously from traditional financial systems.