This is my first ever Leo finance post both serving as and introduction and a personal opinion of ETH 2.0. Just a contractor from Michigan turned crypto blogger by global health crisis i have written several overviews on cryptocurrency services on read.cash. Every day i kept seeing Leo finance articles so i joined hive. figured out it wouldn't work on my phone and now im here after getting a desktop. Went from digging a literal hole to a financial one that's me in a nutshell.
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Intro**
$18,700 for BTC & $600 for ETH why is it i don't feel like celebrating 😕 🤔? I think that I have sorta a bad feeling not really sure why because like anyone else who's interested in the cryptocurrency market I'm doing really well with the current prices. Yet I'm worried not happy with the profit but concerned for what potential implications that this current price trend will have on the global economy.
Without any doubt what I want is for cryptocurrency to finally get the mainstream usage and normalcy that is deserved. This will take a lot of time and planing for the transition to be done with out causing issues. We have a system that currently is dependent on fiat and precious metal's. I don't know if you have priced cryptocurrency as of late 😉 but a gold bullion 1 Kg (32.148 oz) Bar currently is worth a 10th a Bitcoin give or take change which is what we're calling dollars now.
So literally everything is in my opinion backed by Bitcoin. I personally like to believe that we're all on the value of labor principle and the currency medium may simply be shifting forms so to speak. I am not proud of this next quote because it is from Rick and Morty and the second you read that yourrollingyoureyesand👎. I am referring to the szechuan sauce episode in which the main character collapses an empire by changing a 1 to a 0. For whatever reason I have a feeling that the Ethereum 2.0 perhaps may be a similar outcome. The POW system of Ethereum is a part of the reason why both Ethereum and NFTS are so expensive as of late.
At this point it's almost as if you're buying museum sculptures to set your iPad on and display your NFT art/collectable. I'm all for the direction that the future is headed for. I have personally always been more prideful of a video game collectable than building an entire house 🏠. Of which I have built several I'm a contractor but that helmet in halo 3 took real effort so if we're showing off Crypto kitties for status symbols I'm going to be happy. This just seems like a to good to last kind of thing 🤔 but I want to be wrong about everything.
The Ethereum 2.0 upgrade makes mining 40x more efficient by introducing a method of dividing the blockchain to be solved on a fractional level by a group as apposed to the current system of computing power that is competing with one another. I vastly over simplified so if you haven't you should check it out on their site yourself.
I am not a economic expert or advisor don't make any financial decisions based on my personal opinion/experience. Just a good rule of thumb with any Rick and Morty fan that is a bit of life hack just don't trust Rick and Morty fans.
If you're not aware uphold has a fairly interesting service not only are they a cryptocurrency wallet that offers precious metal ETF'S and is partners with Gold Bullion International (GBI) they have physical bullion and they have a live market price for trade through uphold. Offering a variety of precious metals silver platinum gold and palladium. By the way all of these are in order of cost, which is calculated by the market value they list is measured at 1 Kg (32.148 oz) Bar. They allow you to pick up your precious metal's from any of their affiliate organization's in your area. There is a spread fee for the transaction just to warn you upfront.
But in the spirit of Rick Sanchez why not take the cosmic nihilist approach take some of your crypto profits and get some palladium kick back and wait for the inevitable heat death of the universe.
Conclusion
If there is anything you take away from this post let it be this don't trust Rick and Morty fans. I'm a Rick and Morty fan that means you should.................
P.S any tips at all about leo finance would be greatly appreciated i'm a newb