Cryptocurrency: the future of money the biggest Ponzi con
industry?
industry?
You may have heard the saying, “rich as Croesus”. Meaning
that you have to exceeding wealthy to be richer than the king of Lydia in Asia
Minor in 560 BC. He is believed to be the first person to mint coins as “money”
from gold, although I visited a ruin in Rome where the Italian guid said the
Romans first minted coins and coined the phrase which became known as money.
Why was Croesus fabulously wealthy? He formed and controlled his own currency
which dominated the region.
that you have to exceeding wealthy to be richer than the king of Lydia in Asia
Minor in 560 BC. He is believed to be the first person to mint coins as “money”
from gold, although I visited a ruin in Rome where the Italian guid said the
Romans first minted coins and coined the phrase which became known as money.
Why was Croesus fabulously wealthy? He formed and controlled his own currency
which dominated the region.
Now others want to form their own currency and dominate the
financial markets.
financial markets.
Is it a currency or just a speculative investment?
But are cryptocurrencies, such as bitcoin, the answer or are
they, in the words of Warren Buffett, a “mirage”?
they, in the words of Warren Buffett, a “mirage”?
Buffet has called it wrong on previous technological
revolutions, but you have to sit up and listen to one of the greatest investors
and richest men in the world.
revolutions, but you have to sit up and listen to one of the greatest investors
and richest men in the world.
The leading and most well-known cryptocurrency is bitcoin.
In the last five years, the price of a single digital bitcoin has risen from
$263 to over $10,000.
In the last five years, the price of a single digital bitcoin has risen from
$263 to over $10,000.
However, it rose to $17,000 in 2017 and failed to just over
$3000 a year later. It has doubled in price since March 2020, as soon investors
sought a “safe” haven for their cash during the financial crisis.
$3000 a year later. It has doubled in price since March 2020, as soon investors
sought a “safe” haven for their cash during the financial crisis.
What is Cryptocurrency?
Cryptocurrency is a digital assets design to become a medium
of exchange where individual coin ownership records are stored on a ledger in
the form of a computerised database records known as the blockchain.
of exchange where individual coin ownership records are stored on a ledger in
the form of a computerised database records known as the blockchain.
The US dollar is the world reserve currency, which gives
America a tremendous advantage because other countries need to change their
currency into dollars to trade internationally.
America a tremendous advantage because other countries need to change their
currency into dollars to trade internationally.
China is launching its own digital currency based on its
paper currency, the Yuan. Although not the same as a cryptocurrency, China
would like to break America’s dominance in the financial markets and become the
most widely used international currency.
paper currency, the Yuan. Although not the same as a cryptocurrency, China
would like to break America’s dominance in the financial markets and become the
most widely used international currency.
How do you buy a Cryptocurrency such as a bitcoin?
The answer is you exchange your real money dollars or pounds
for digital bitcoin stored in a “wallet”, which comes in various forms.
for digital bitcoin stored in a “wallet”, which comes in various forms.
When you sell it, you get back your dollars or pounds.
Bitcoin is not a practical and real currency accepted by
markets and governments. You cannot go down to your local supermarket and pay
for your shopping in crypto currency. Well, not yet. Digital currency is
definitely coming as the banks try to phase out money using “Covid 19” as a
convenient excuse, but whether this will be in the form of bitcoin is another
question.
markets and governments. You cannot go down to your local supermarket and pay
for your shopping in crypto currency. Well, not yet. Digital currency is
definitely coming as the banks try to phase out money using “Covid 19” as a
convenient excuse, but whether this will be in the form of bitcoin is another
question.
Furthermore, if you accepted payment in bitcoin in December
2017 when the price of one coin was equivalent to $17,000, a year later that
bitcoin would be worth $3000.
2017 when the price of one coin was equivalent to $17,000, a year later that
bitcoin would be worth $3000.
There are many other contenders for the digital currency
market, including powerful companies like Facebook with their libre currency.
market, including powerful companies like Facebook with their libre currency.
Some form of digital currency will eventually replace paper
money, but that will be a sad day for all of us. Money in your pocket
represents a bit of freedom and more difficult for banks and governments to
take it from you.
money, but that will be a sad day for all of us. Money in your pocket
represents a bit of freedom and more difficult for banks and governments to
take it from you.
·
Trump tests positive for Covid 19
Trump tests positive for Covid 19
·
Have you made a Will and is it valid?
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UK house prices soar 5% in September
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How
to avoid bankruptcy in a business
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to avoid bankruptcy in a business
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Is
this the end of office work as we know it?
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this the end of office work as we know it?
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Home
workers one step closer to outsourced
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workers one step closer to outsourced
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Why
live in expensive town centres anymore?
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live in expensive town centres anymore?
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Buy-to-let landlords ignore “NO DSS” tenant
ban
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ban
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Thousands
trapped in unsellable leasehold flats
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trapped in unsellable leasehold flats
·
New Job Support Scheme unveiled by UK
Chancellor
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Chancellor
·
2m homeowners apply for mortgage payment
holiday
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holiday
·
UK property prices jumped by 3% since June
following stamp duty cut
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following stamp duty cut
·
You can create a second income during the
lockdown…and come out stronger
You can create a second income during the
lockdown…and come out stronger
Millions of people face a bleak future post-Coronavirus
lockdown, as businesses disappear and the job furlough scheme eventually comes
to an end. However, life doesn’t have to end because of lockdown! You can join
thousands of ordinary people who have increased their income and added
streams of new income during this period.
lockdown, as businesses disappear and the job furlough scheme eventually comes
to an end. However, life doesn’t have to end because of lockdown! You can join
thousands of ordinary people who have increased their income and added
streams of new income during this period.
Are you ready to adapt to the new economic model?
As lockdown restrictions around the world are being eased,
the economic model has subtly changed forever. How will you adapt to this new
way of working and running a business, what obstacles and opportunities lies
ahead? Will you be a participant or spectator in this revolution?
the economic model has subtly changed forever. How will you adapt to this new
way of working and running a business, what obstacles and opportunities lies
ahead? Will you be a participant or spectator in this revolution?
By Charles Kelly, Wealth Mentor, Property Investor, Author
of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
There are more examples and practical
steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3
R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it
out on Amazon http://bit.ly/2MoneyBook.
steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3
R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it
out on Amazon http://bit.ly/2MoneyBook.
If you’d like further information on wealth mentoring and
coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net
or send me a message through Facebook or my Money Tips Daily community. See
more articles at www.moneytipsdaily.com
coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net
or send me a message through Facebook or my Money Tips Daily community. See
more articles at www.moneytipsdaily.com
Heal your money wounds the Japanese way with Ken Honda
Japan’s #1 bestselling personal development guru. Ken will take you on a
journey where he will teach you the Japanese art of healing your money wounds
and making peace with your money. Too often, money is a source of fear, stress,
and anger, often breaking apart relationships and even ruining lives. We like
to think money is the centre of our lives and everything depends on our
financial status, but Ken challenges our beliefs to install more liberating
perceptions of money and delivers concrete tools that have the power to change
your life. Click
to join his free masterclass – Click: https://bit.ly/2GqyYki
Japan’s #1 bestselling personal development guru. Ken will take you on a
journey where he will teach you the Japanese art of healing your money wounds
and making peace with your money. Too often, money is a source of fear, stress,
and anger, often breaking apart relationships and even ruining lives. We like
to think money is the centre of our lives and everything depends on our
financial status, but Ken challenges our beliefs to install more liberating
perceptions of money and delivers concrete tools that have the power to change
your life. Click
to join his free masterclass – Click: https://bit.ly/2GqyYki
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