How I use / have used Crytpo

in #steemleo5 years ago

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We are all here for the tech !!!
No, not really.
Quite a few of us are here for the investing opportunities. When I 1st got into crypto I was a big believer in BTC & LTC as forms of currency. I promoted them and used them to make small purchases such as coffee and a lunch here and there when i could find a vendor.

Then something happened..... the USA IRS decided that cryptocurrencies were not currency, no, in fact they were just an investment vehicle. All of a sudden over night crypto started to plummet and crypto winter BEGAN!!!!

So what was I to do? I believed in the power of these currencies over government run FIAT, but the US Govt (through the IRS) had declared war on cryptocurrencies.

I knocked my head against wall and decided, fine if they will not let me purchase physical goods within the boundaries of the US I will just avoid this location.

So what I do is invest FIAT into crypto through coinbase app on my iphone. Now this costs me some fees but is the easiest way for me. I instantly transfer them to a different wallet. Therefore the IRS says I bought and sold at the same price and saw no gain, so no taxes.
I then filter that wallet through an exchange into a different currency and out into a different wallet, a kind of digital money washing.

Know with my crypto I manage to spend it when I travel. I mostly go to Japan as they are very crypto friendly. I use it in business dealings, just like people say do you take Venmo. I say do you have any crypto you would like to pay with ?

This has 2 effects, 1st it lets me get crypto as payment if I can and 2nd if not, raises the awareness of whomever i am doing business with that crypto is an option.

Outside of this I use crypto in the digital realm. Ahhhhh.. crypto in its natural state. I invest a small bit here in steem as I do see upside potential as soon as we great rid of a bunch of the early adopters who are only here to get rich quick and don't support any new comers... (cough.. cough.... whales... cough)

I also truly believe that gaming and game tokens (NFT's) are the big growth engine that crypto needs. Gaming has always driven computer tech. (Yes, I know PORN is a big driver also).

Porn drove the payment infrastructure of the internet, but gaming drove the hardware development and networks to prevent lag that allowed the modern information super-highway to exist.

So gamers will use crypto to buy / sell all their favorite in games items and someone will let them trade those items for physical goods. So do i use crypto as a swing trade ? yes, kinda like a forex account, but mostly I use it to fund any new projects and raise awareness that all is possible.

I also run a private limo service for business travelers in Colorado and I have 2 Japanese businessmen that pay me in LTC. That transaction is always my favorite.

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Cool that the adoption in Japan is that widespread. Here in Switzerland we are all pro crypto and shop adoption is slowly growing but by no means fast enough. Seems the swiss are looking at this as an investment vehicle as well

Yes and the 2020 Tokyo Olympics are going to raise the awareness even more.
Most shops will be accepting it during the Olympics.

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