RE: The Rise and Rise of Bitcoin (2014): A Retrospective Look With Google Trends Analysis
I remember when Bitcoin first came out in 2008, and my freind begged me to spend $300.00 on bitcoin, which would have given me 30,000 bitcoin. He did, and I didnt. In 2016, I opened a Coinbase account, and bought a few dozen for around $10, and gave away the majority of them on various platforms to people who were needy in other countries. I have less than one bitcoin now, and its worth over $7,000.00 today. I was going to buy bitcoin earlier, but the Mt. Gox failure made me decide not to. If you want to know what the REAL pyramid scheme is, just look at the Federal Reserve, which allows banks to lend 10X their actual holdings in the form of mortgages and auto loans, etc. I decided that Coinbase is the safest place to store and use Bitcoin and other cryptos, due to the fact it has SEC oversight and is staffed by former members of the SEC and Federal Reserve, et/al, whereas other exchanges arent. I decided to open accounts on other exchanges, so as not to have all my eggs in one basket. Had Coinbase existed in 2008, and I had invested the $300.00, like my freind did in 2008, I wouldnt be eating hotdogs and ramen noodles for Christmas. I still remember the first Bitcoin transaction of 20,000 BTC for 2 pizzas, from a British guy to a man in Florida, back in the day. Hindsight is always 20/20. Im leaving my fraction of a Bitcoin alone in coinbase, hoping that it soars to half a million, so I can pay off the remainder of my mortgage ($70,000) and $15k line of credit, and finally be debt free, with some left over for me to attempt to retire on. Fingers crossed. Always good to read your posts, Vimukthi. Look me up if youre ever in Florida.
I had no idea BTC existed until it was around $1000
One of the great things about STEEM/HIVE/BLURT is that you don't even have to spend anything to give away. I can simply vote on people like @cryptopie regularly and show my support. I recently managed to onboard 2 users because I had claimed accounts. I just made 2 accounts on STEEM and HIVE and sent the users private keys. It barely took any time and they didn't have to provide anyone anything in money or even E-mail.
That is actually one of the better cases. Many countries don't even have a reserve requirement: https://en.wikipedia.org/wiki/Reserve_requirement
Best of Luck! You deserve that. I'm all in on altcoins. I post a lot on https://leofinance.io/@vimukthi You might even have a good time at https://next.d.buzz where you can share short form content. You can use your STEEM private keys for both HIVE DAPPS and Blurt: https://blurt.blog/@marcoagarcia3rd (you've got me as your 1st follower there) You can try reposting your best content back on BLURT. They transferred account balances but not post history or followers there.
Thank you! I'm honored :-)
Reserve requirement
The reserve requirement (or cash reserve ratio) is a central bank regulation that sets the minimum amount of reserves that must be held by a commercial bank. The minimum reserve is generally determined by the central bank to be no less than a specified percentage of the amount of deposit liabilities the commercial bank owes to its customers. The commercial bank's reserves normally consist of cash owned by the bank and stored physically in the bank vault (vault cash), plus the amount of the commercial bank's balance in that bank's account with the central bank.
The required reserve ratio is sometimes used as a tool in monetary policy, influencing the country's borrowing and interest rates by changing the amount of funds available for banks to make loans with.