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I need to figure out how to hold my to-do list lightly.
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Once upon a time i bought a crypto token in an early offering. I don't technically have an allowance, but it was kinda like spending my allowance on it. It was before Christine got fed up with crypto herself. Time passed. The tokens are now worth ten times as much as i paid for them. I kinda want to get my investment in dollars back out. And maybe convert some to ₿itcoin. So far it seems the one exchange i as an American can play in that also has the token i own has no straightforward way to handle getting dollars into my bank account. I guess this is why people invented so called stable coins, crypto currencies tied to fiat currencies. Meanwhile, i've already evaporated some ₿itcoin in "gas" fees, the fees for committing a transaction on the blockchain ledger.
I remember sitting in a conference room years ago listening to tech dudes rhapsodize about putting your twitter handle on the blockchain. "Yeah, it's only a few cents for the transaction now, what are you going to do when the financial incentives switch from mining to the fees to commit the transactions?*" Today i spent roughly $25 to transfer ₿itcoin out of a dead end account. Presumably we spent something similar getting it into the dead end account.
However, the answer to my question is, "We create our own blockchain with different financial incentives that uses our own tokens to pay for transactions." Those are the tokens i bought.
Anyhow, years of theoretical understanding of distributed ledgers (aka blockchain technology) are now slightly less theoretical. I am happy to answer questions about blockchain tech (although i am no expert). I am a noob when it comes to cryptofinance, and my ₿itcoin blunder is not likely one anyone will make but here's the lesson.
( The people likely to need to know this are not likely reading my journal. )
--== ∞ ==--
Evernote fury number i can't even: ( important feature no longer available but maybe it will come back? )
--== ∞ ==--
Once upon a time i bought a crypto token in an early offering. I don't technically have an allowance, but it was kinda like spending my allowance on it. It was before Christine got fed up with crypto herself. Time passed. The tokens are now worth ten times as much as i paid for them. I kinda want to get my investment in dollars back out. And maybe convert some to ₿itcoin. So far it seems the one exchange i as an American can play in that also has the token i own has no straightforward way to handle getting dollars into my bank account. I guess this is why people invented so called stable coins, crypto currencies tied to fiat currencies. Meanwhile, i've already evaporated some ₿itcoin in "gas" fees, the fees for committing a transaction on the blockchain ledger.
I remember sitting in a conference room years ago listening to tech dudes rhapsodize about putting your twitter handle on the blockchain. "Yeah, it's only a few cents for the transaction now, what are you going to do when the financial incentives switch from mining to the fees to commit the transactions?*" Today i spent roughly $25 to transfer ₿itcoin out of a dead end account. Presumably we spent something similar getting it into the dead end account.
However, the answer to my question is, "We create our own blockchain with different financial incentives that uses our own tokens to pay for transactions." Those are the tokens i bought.
Anyhow, years of theoretical understanding of distributed ledgers (aka blockchain technology) are now slightly less theoretical. I am happy to answer questions about blockchain tech (although i am no expert). I am a noob when it comes to cryptofinance, and my ₿itcoin blunder is not likely one anyone will make but here's the lesson.
( The people likely to need to know this are not likely reading my journal. )
--== ∞ ==--
Evernote fury number i can't even: ( important feature no longer available but maybe it will come back? )
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