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ottoman

08/29/22 7:13 PM

#284224 RE: Wayne R #284223

I played with crypto a while back. I flipped some crazy "Alt coins" and tokens. I bought things like DICK coin, and TITS coin, you know, all the solid, stable investment strategies lol.

It was a losing experiment. The fees were crazy expensive, and near impossible to track. Just getting money into your "wallet" to "exchange" tokens/coins was a nightmare. Calculating my cost basis was impossible. It was so different from a stock brokerage account.

Buying the main "stable" coins like Bitcoin, Ethereum etc I suppose is much better, and can be purchased through some stock brokers, But the alt coins are nuts.

Check out some of my posts on the "The Saloon" board. lol. Good luck if you venture into Crypto!

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167249701
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167248233
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167088382
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167004583

Cost Basis post
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166932142

One of the MOST Stupid things of ALL! Your Wallet NOT SHOWING what assets you have in the wallet:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166930964

This post probably sums up my whole experience the best LOL
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167126709
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Theo

09/07/22 9:01 PM

#284228 RE: Wayne R #284223

Not sure if this will help you or not but wth... got it in an email blast from Zacks:

"...What is the Blockchain?

In the digital world, a block is a digital list of records, acting as a ledger that can contain information of any kind. When these blocks are linked together, they are secured by cryptography to form the blockchain. This blockchain is an unforgeable record of all the transactions that replicates on every computer on the network. If information in a new block can't be verified by all the other blocks in the chain, it is discarded. In the case of the top cryptocurrencies, a currency's network consists of millions and millions of computers all over the world. This makes it unhackable, as a hacker would need to hack all that computing power simultaneously, a seemingly impossible task.

I already know I've probably lost some people, but please stay with me. At this point, the question within this topic is typically: What does blockchain have to do with currency? Everything.

But to understand this opportunity we have to separate our thoughts of cryptos from traditional fiat currency. While fiat currency is used to buy cryptocurrency, once bought, cryptos stand on their own. In addition, the smart contract (more on this later) aspect allows cryptos to be not just an exchange of cash, but an exchange of value. In a sense, these currencies are the "Internet of Value".

To simplify, the blockchain is a public registry of assets and transactions that tells us who owns what. These transactions are often referred to as smart contracts, as they are recording a contract between two people, whether it be a transfer of currency, a good or a service.

You can see how this new innovation could be disruptive to traditional businesses out there. Rather than lament this potential disruption, you are in the unique position to profit from it. How, you ask? By investing in the various areas of the market where the blockchain is making noise. There are several different angles here.

The "Picks and Axes": During the gold rush, the ones who really got rich were the ones selling the picks and axes. That is, the companies which provided the tools for the speculators to go out and try to find their fortunes. In the cryptocurrency world, this refers to the companies which make the chips and hardware used for mining operations.

Consulting: There will be a wave of companies looking for ways to incorporate blockchain technology into their existing businesses. Already, large consulting companies are beginning to offer services helping companies to integrate the new tech.

Cloud Infrastructure: No other industry has been as dependent on the cloud for its development as blockchain has. The need to distribute a ledger across the world, with no centralized ownership or authority overseeing transactions, plays into the strengths of the cloud. Companies which offer cloud-based hosting may suffer, while those which help facilitate this decentralized network will benefit greatly.

Payment Processing: Among the most disruptive industries for blockchain is payment processing. Rather than your traditional financial intermediary, blockchain technology allows for a distributed, open, public ledger where transactions are confirmed by other nodes in the chain for a fee that's much smaller than your typical fees coming from more traditional processors.

Lending: We are just at the tip of the iceberg here on lending. Blockchain tech is perfect for lending, allowing lenders to spread their risk across thousands of loans in an instant, no matter the size of the lender.

Miners: The miners are the most important part of any blockchain and likely the most misunderstood. Miners confirm transactions from node to node by solving the cryptographic problem and are then rewarded in units of the cryptocurrency. Already we are seeing companies which "mine" cryptocurrency publicly traded. These companies mine the currency then immediately sell them on the open market and pass through the gains to shareholders. Think of them as you would a pipeline company in the energy sector. These companies are small now but could become much larger in time.

Investors/BDC: Some publicly traded companies are acting as incubators for other budding cryptocurrencies. We talk about Bitcoin a lot, but there are over 6,000 other cryptocurrencies in the world. These investors and business development companies invest in promising crypto companies before they hit the mainstream.

There are many more companies on the way but how will you know how to separate the pretenders from the contenders? Which of these emerging companies will be built on solid technology and which will be gimmicks? Just like the Dot Com Bubble brought with it several names which added ".com" to their names to get in on the action, companies are adding "Blockchain" to their names, some in a very unscrupulous fashion.

Today, Find the Real Blockchain Companies

This technology is already having a major impact on almost every industry you can think of, and that impact will only accelerate over time. In fact, experts predict the space will skyrocket +2,175% from $7.2 billion in 2022 to $163 billion by 2029.

Just like the early days when the internet was the new emerging technology, investors have a chance to pocket huge gains....
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