Tuesday, January 10, 2017

India's Demonetization Is A Success And Bodes Well For Bitcoin and the Digital Economy.

On the 8th November 2016 when Modi cancelled the 500 and 1000 rupee notes, and gave the populace 50 days to exchange old notes for new legal tender, the international press condemned and vilified the move. One must ask if they really had India's best interest at heart.

By any measure this demonetization effort has been a success. India is a country where at every election people die. Yet this unanticipated move was without protest and practically bloodless. In one move Modi have dragged his backward and feudal people screaming and kicking into the 21st century and internet banking. I would consider this one move to be the awakening of the Indian tiger.

We can be sure that every Indian young or old, male or female would now know of Modi Narendra and what he did for India. ( I would lay bets that there are people in the USA who don't know who Obama is or that Trump is the president elect.) By financially empowering every Indian with an awareness of the knowledge economy he will move India forward faster than with any other development route possible.

Bitcoin companies like Zebpay, Unocoin and Coinsecure have mushroomed in member and users and a system like Africa's Mpesa may not be too far off. Hopefully their system will not be monopolise by some giant telco like Safari-com in Kenya, choking of competition and development.

India is on-boarding users to bitcoin at a rate of over 100,000 a month. Such growth cannot be ignored by governments of the world at large. The only question now is, which country will be the first to adopt bitcoin as a national currency. The one that does will be a very rich country indeed going forward.  

Monday, January 2, 2017

Growing your bitcoin stash - now is the time using, "The Magic Of Compound Interest".

How to use the most powerful tool in finance to grow your bitcoin stash.

I came across Bitcoin in December 2013 and bought my first bitcoin in February 2014. I was very hard to buy bitcoins in those days. Over the next 3 years I have made and lost bitcoins checking out project and getting caught in several scams and outright exchange failures.

Investing in bitcoin
For the newbie just purchasing your fist bitcoin or part of it is a great experience. Most will get it directly from a friend, at a meetup from a bitcoin ATM or a bitcoin exchange. After that it's a case of adding to your stash on a regular basis or buying when price action starts to happen again as it does every few months. The biggest one in my experience is the run-up from $237 to $1020 in just over a year.

The Magic of Compound interest.
With compound interest we double our principle in just 7 years at 10%. The idea is to utilise this principle to our benefit. If you only want to make a one off capital investment your options are.

1) Purchase bitcoin
2) Purchase hardware to mine bitcoin
3) Purchase cloud mining contract - Use the most reputed Genesis mining
4) Purchase Ghash units on Hashnest

Of the above purchasing bitcoin outright and holding is the quickest and safest. Mining for bitcoin will require you to have some computer knowledge and the return is often less than your investment. On average it will take a year to recover your investment as the ROI decreases with every difficulty increase. Cloud mining contract is similar to purchasing your own miner except it cost more and takes even longer to recover your investment. Lastly is what we are talking about utlilsing hashnest hashing units purchases.

Go to Hashnest  https://www.hashnest.com  sign up for an account, deposit some bitcoin and purchase either AntS7 hashes or AntS9 hashes. The advantage of this system is that you can easily convert your hashes into bitcoin anytime you choose. All you do after this is keep reinvesting your daily dividends. Using this process you will double your capital investment in six months. The return is about 0.4%  compounded daily. Always keep an eye on bitcoin price trends and exit when you feel uncomfortable. Getting in and out and switching between AntS7 and AntS9 is fun, Best of all your liability is limited and worst case you get to keep your mining hardware.

Caveat : This assumes that the price of bitcoin and hashing difficulty remains constant which is not. As difficulty increase your return and price of hashes will decrease. It is counter balance by the increase in price of bitcoin. If mining of hashes becomes unprofitable for 10 days in a row, the market will close and you can claim the physical miners and get them shipped to you. At time of writing 3/1/2017 the price of bitcoin have been increasing and so this has been a very good strategy.

If you want to just purchase cloud mining on Genesis Mining go to this link
https://www.genesis-mining.com  Use my affiliate code aOi345 and get 3.5% discount on your purchase. Purchasing cloud mining with your credit card is also a way to convert your fiat into bitcoins.

Get A Coinbase Wallet and purchase your first bitcoin using your credit card.


Bitcoin Donation Address