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Someone gave me 0.990 LTC a week or two ago. At the time that was about $54.00. It has since gone up to about $60.
I bought $60 each of BTC and ETH, paid for with EFTs from my business checking account.
BTC went way down today doubtlessly due to some burglar bragging that he just stole $32,000,000.00 worth of bitcoin by hacking into digital wallets.
CoinBase offers USD wallets if you're down with uploading pix of the front and back of your ID. So I can no longer use CoinBase for money laundering.
The great advantage of the USD wallet is that the transactions take place immediately, rather than having to wait seven days as happened with my EFTs. The price was locked-in when I ordered the purchase but I wasn't permitted to trade the ETH or LTC for over a week.
Now I have BTC 0.0253 that just now is worth $169.15.
My code is going to go beta by the middle of next week. That means I get paid. I'm going to buy one BitCoin - presently that costs $6,682.00 - as well as a mining rig.
The reason I'm doing this is that I have no other hope of funding a decent retirement. Even if I contribute the maximum of $6500 - the "catch-up" rate for people over 50 - until I'm 65, my retirement will have me living like a starving artist through all of my golden years.
So I'm speculating on cryptocurrency. Even if I lose it all, my retirement won't really be any worse than I presently foresee it.
I might form a 501(c)3 tax-deductible non-profit corporation to operate Soggy Jobs. If I do that I could give myself the employment benefit of a 401k, which will enable me to contribute about three times as much as my IRA permits.
I'm soliciting donations but they're not yet tax-deductible.
Google.org exists to give money to charities. I expect I can make a good case for contributing to soggy jobs. There are many philanthropic organizations; if I do form the non-profit I'm going to work with a grant writer to get me some of those Samoleons.
(Score: 4, Interesting) by JNCF on Saturday November 11 2017, @10:11PM (3 children)
I don't know how long you're keeping your coins on Coinbase, but I wouldn't keep funds in any third-party wallet any longer than necessary. For long-term storage, I would recommend one of these two options:
1) Download this website, [bitcoinpaperwallet.com] and use it on a computer that never again touches the internet. Generate your wallet. Either print it (extra paranoia points if the printer never again touches another computer), or hand-write the keys and then type them back into the computer multiple times to make sure that you have them written correctly. You're smart enough to make a computer check if two strings match.
2) Download bitcoind, never touch the internet again with that computer, generate your keys, encrypt them with a good password, and store them on some media that has a relatively long shelf-life (not flash memory).
In either event, make multiple copies.
Feel free to ignore this advice (some of it may be overly paranoid), but don't blame Bitcoin if you get goxxed by Coinbase. Allowing a third-party to store your coins totally undermines the security of your coins, though it is convenient for some transactions at the moment.
(Score: 3, Informative) by krishnoid on Tuesday November 14 2017, @09:36PM (2 children)
I just heard about M-Disc [pcworld.com] a few days ago. That should work well, right?
(Score: 2) by JNCF on Tuesday November 14 2017, @09:58PM (1 child)
I hadn't heard of that, but I like what I'm reading! Thanks for the link.
(Score: 2) by krishnoid on Tuesday November 14 2017, @10:32PM
Note that another article [goughlui.com] confirms the DVD's have been durability-tested, but the BD-R's haven't, despite the claims on the box.