1 Month chart for Golem Network Token (GNT)
DISCLAIMER: this is not a suggestion or advice, strictly a discussion on facts about what I have done, the opportunities I see, the security standards I have used to keep my information secure, and what I LOVE about this new realm of cryptocurrencies
What I have done:
6 months ago, I became interested in a project that I felt had ground-breaking potential in the architecture, design, gaming, video production, and VR spaces.
While trying to invest (a very small amount) in to the project I was led to Bitcoin (BTC) and the larger sphere of cryptocurrencies (crypto from here on).
For the next two months I read everything I could get my eyes on — some turned out to be total crap, many were amazingly helpful.
4 months ago, I purchased a TINY fraction of a BTC from Coinbase. Life and work got in the way and it was over two months later before I finally figured out how to get BTC exchanged and put in to the project I wanted to be in from the beginning.
Since then I have diversified in to a variety of projects and have had an awesome time learning so many new things.
The opportunities I see:
With recent record highs and major American futures markets (Chicago Board Options Exchange — CBOE and Chicago Mercantile Exchange — CME) giving the realm additional validity, National News has been all a buzz about Bitcoin (and other top coins).
People are seriously losing their damn minds over all this. A recent “correction” was touted as an apocalyptic CRASH — when, in reality, it was just a rough Thursday and by Friday evening anybody that just held what they had was back to where they were on Monday. I’m writing this because I see potential in the realm and a hopeful future for many to change their current circumstances. In 4 months I more than tripled my initial “test” investment (results may vary).
I am in no way chasing this to “get rich quick” or “fly to the moon in a new Lamborghini”. I am very patiently, with meticulous research, making choices I believe will give my family financial independence from a highly manipulated system rigged to the upper end and to hopefully allow us to contribute to our community in more ways than previously possible.
I watched a documentary a few years back about Julius Rosenwald and he believed in a concept of “repair the world” and, as a means to that end, he sought to “spend a third, save a third, and give a third away”. I am nowhere close to that level of philanthropy yet, I just want you to know where the bar stands and my ultimate goals. I feel that it is in those selfless and noble acts that we, as a society, becomes better.
Minimum security standards:
In this Digital Age, our information is a commodity that Google and Facebook profit on and the nefarious pickpockets of the new world hope to capitalize from as well.
The coin machine I use is WiFi disabled, wired connection only. Unplugged from network and power when not in use. I only use this machine for crypto. No social media, no grocery coupons, no online anything other than crypto.
It may seem counter-intuitive but the best thing I can do in the crypto world is write down important information in a paper journal and keep it filed away when not in use. I also use MS Notepad to copy and paste information from a website and then save it to a thumb drive that goes back in to the journal when I’m finished.
That useless old digital camera has seen a new life for security selfies and a few other pieces of data that would not be secure on a cell phone. Some sites wanted a selfie of me holding the Driver’s License and a note with the name of the exchange and the date — this kind of information never goes to the phone or email. As well, I took photos of the QR code and recovery phrases for my Two-Factor Authentication (2FA).
I created a new email address that ONLY does crypto — not Groupon, not Facebook, not Netflix, NOTHING but crypto.
I don’t use my primary computer for crypto AT ALL (research and learning only).
I don’t use my phone for ANYTHING but watching a new sort of ticker called Blockfolio and my 2FA for logging in to the exchanges.
I use really loooooooooooooooong passwords. Like, crazy long. With capitals and funky punctuations and numbers and such. Once I get my head around “Password Manager” or another service I may go that direction but for now I use my old technique of ridiculous passwords backed up in a paper notebook that never leaves the house.
Seriously, I assure you, security is paramount in this day and age, for everything. Not just a new way of investing.
Love over money:
I love this new space because I firmly believe this is how we get to Star Trek. This is how we end poverty. This is how we save what is left of the planet and its inhabitants. This is how we end WAR. And maybe, just maybe, a bunch of arrogant self-absorbed twats go to the moon in their Italian sports cars. WIN WIN WIN WIN WIN.
As a means of investment, this is one of the only spaces where I could buy .0000001 of something. That alone removes the biggest barrier to entry for me and most regular people. Most stocks, funds, and traditional investment tools require far more substantial upfront cost. I have seen people make larger wagers on football games than I started with in Coinbase.
Blockchain, Tangle, and whatever is next in combination with contemporary processing power and, soon, quantum computing ARE where we’re headed — like a freight train going down the tracks. And, in my lifetime, we WILL see an exponential rate of growth in technology and innovation that defies current comprehension as much as sending telegrams, placing phone calls, faxing, emailing, texting, and video chatting multiplied by each individually.
I love the fundamentals behind “decentralized” and what it could mean for us as a people. Having a broker between me and my crypto is antithetical to the original premise. Paying large fees for things I only use a little of may soon be a relic of more wasteful times. Having a bank in between me and my money is as outdated of a concept as fax machines. Crypto is how we get to what is next.
Any questions?
©Stephen H. Kaplan 12–22–17 (ArmchairAnalyst & Kaptastic)