Bitcoins – Not if, but When?
Greetings Regular Joes,
As a new year begins, I’ve started to take up pen again to post a few updates. It won’t be the regular daily updates I shared when I first started, but will be more often than it has been over the past year.
For awhile, all I did was let articles that I thought were helpful run though. However, it became apparent that I wasn’t really serving followers well, so I shut them down. Unless one is very compelling, I won’t be doing that again. There are other places you can find those resources.
The past year has been a particular challenge for Another Joe. Work slowed down coming out of the summer, and I found myself really wondering what I was going to do. My goal had been to build a portable income by the end of 2013, which it was very apparent was not going to happen. Obviously we have to eat, so it was looking like I was going to have to start filling out applications for local work. October was by far the worst month I’d faced in years, with just about nothing coming in.
Well, by now you’ve probably heard about bitcoin. I have to confess, I studied it a little when it first came out a few years ago. At the time I had a little bit of cash that I had intended to invest in something. Bitcoin was one of my considerations. I opened a wallet, but never funded it. Instead I put the cash elsewhere. If I’d gone with bitcoin, I likely would be fairly wealthy right now. What did I go with? Well, never-mind… suffice it to say that it hasn’t really gone anywhere.
So, I missed another ship. We can all relate to that. But having revisited bitcoin this summer, I started trying some things and have been able to actually build a sustainable income by operating my own exchange. It’s a great service and I enjoy it. Additionally, I get to meet new people and consider options I hadn’t before.
Risks are mitigated through services that check identifications. Trades can be done anonymously, but I don’t generally accept them unless I can get some form of verification. I got burned once early on, eating all my gains from the previous couple of weeks. Since then I’ve been much more careful.
There are many questions people have about bitcoin. Most seem intimidated and see it as some sort of black, or at least grey, market currency. But it’s really not. It’s amoral. It’s simply a means of trade. So the question really isn’t “if” someone should be involved in bitcoin. It’s more a matter of “when” someone should.
As an investment, I have nothing to say. It’s not quite fiat, because it’s not centrally controlled. But neither is it really money, since there is no inherent value in it. It is what it claims to be, a digital currency. It’s divisible, portable, easily traded across borders and requires no middleman for transactions. It’s on par with gold as a perfect currency, with two exceptions. One, you can’t hold it, which means it cannot be classified as true money. Two, it’s much more portable than gold, especially if one desires to make long distance transactions.
Unlike a credit card (which can be sued across borders), there are no service fees. You just transfer bitcoins and you’re done. Someone gives you their wallet address, you put the information into your wallet, click send, and it’s in their wallet. It really is that simple. And such transactions are becoming much more commonplace. Some are even accepting btc for real estate transactions.
So, I’ve opened an exchange. You can learn more by clicking on the link in the top of the right sidebar. Set up an account and explore.
If you’d like to learn more about setting up your own exchange, let me know. A person could make a couple hundred bucks a week if they didn’t want to put much effort or investment into it, or they could make a comfortable living, if they were willing to put more time and investment into it. You really will get from it according to what you’re willing to put into it.
I’ve started offering consulting for those interested. I charge nothing up front, but 1% of every bitcoin that you buy. This way I profit from your success. And you agree to simply send me 1% of every bitcoin you buy in perpetuity. And you agree not to share with others unless they also agree to send me 1% of every bitcoin they buy.
If you’re interested, click the link below and set up your account, then shoot me a note. Or go to my blog and you can post a reply to this post and I’ll get it.
I have some more projects in the works too, having made some nice contacts this past year. But I think I’ll hold off on saying much until I get more solid info.
May you and your family have a blessed 2014.