RE: The US Government Clamps Down on Ability of Americans To Purchase Bitcoin
Definitely good for young users. I will be getting my daughter an account very soon so she can post daily and maybe make some money over the summer and during her Junior HS and HS years. She writes truly great poetry and makes great artwork as well as music via her Cello and loves to write stories and review books and she is a PC gamer like me (so proud 😢). Who knows maybe she can be able to buy her first car with STEEM in five years or so. Now...this may not apply to everyone but with US interference in cryptocurrency I think it is important that everyone in the know grab a little of each, like, yesterday. Also I know this doesnt apply to everyone as well but, if you have dual-citizenship, as many Americans with Immigrant grandparents are, you can use that along with a VPN to use your status as a citizen of say, Ireland, to do business. My Dad was born there so not only do I have dual-citizenship but so do my kids and my wife. Can come in handy for certain scenarios. The USA doesn't recognize dual-citizenship but other Countries do, so dont renounce (or denounce, I forget) your US Citizenship or anything because you don't have to. You can use something like TunnelBear to give you enough free VPN service to buy PIA (Private Internet Access) and for under $40 you have a year of picking an IP Address in many, many other countries including many in the US itself. Can help hide your location, access websites based in other countries like Australia, watch the BBC or other Hulu type websites etc. I have blogged twice about how to turn USD into crypto without a huge paper trail and received not much information. But this may be a way to do so especially if you have family overseas, that you trust, that can help you set something up. Or better yet maybe we here on STEEMIT can help others to do what they can't do in America, land of the free. But I do know one thing, whenever the government tries to take away a freedom it is because they fear it spreading and because they are protecting something. So I would diversify out of the USD now...and get ready to sell when that silver hits $200/oz and those 600,000 DOGE I have make me rich haha. Its too bad Cryptsy stole all my Dash or I wouldn't be a minnow right now I would be beaching myself on the shores of the Bahamas...like a 🐳
They got me for sooo much and its all my fault for keeping so much in an exchange. I lost about 200 Dash, 1.3M DOGE, 2 BTC and what I mined first, Litecoin (doh!) of which I had around 500, buying them when the price got chopped in a third. Sorry just had to spill my sorrows in crypto. If I was smart I could be sitting pretty right now but I wasn't, I made classic rookie mistakes and other than figuring out how to mine coins, did everything wrong except buying low. But I also sold low many, many times and wasted tons of time mining shitcoins. Stick with the big coins and the rising stars like STEEM and SD. Oh, did I mention if I still had my Monero how I would be able to buy a house on Long Island? I am so stupid!!! Don't tell my wife. Aye but I still haves me Silver, argh!
Dint realize that if they lock you out, you will end up losing all the coins in their wallet too. I just started tracking crypto currencies and hence it's too late for me to mine atleast with my exiting hardware so I am buying the coins. I have been buying stocks for a long time and I am really comfortable analyzing the support/resistance, EPS,
PE etc but with these coins i am flying blind. Not sure what price to enter ether, XRP, Litecoin. Etc
Same rules apply but a much more panic driven market and popular names of coins will keep value. You have to invest in something that people will want in the future. So diversify and ride the major five to big gains especially in 2018. Q2 & Q4, especially.
I noticed in the terms of service for Genesis Mining a statement about forfeiture of any credits, or payouts you have earned if the company happens to go out of business. Therefore, it would be prudent not to keep a large amount sitting on any website. Especially with hackers prowling around searching for a place to commit their shenanigans. Play it safe and get a hard wallet. When it comes to something as important as your finances there is no such thing as being too safe. Better safe than sorry.