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Anyone consider a black created crypto currency?? How about a BGOLcoin??

X

xfactor

Rising Star
BGOL Investor
So-called digital millionaire. He hasn’t sold yet? He is just looking at a number.

geechiedan said:
This ‘dogecoin millionaire’ refuses to sell and bought during the dip — now his stash is worth $2 million


106872490-1619110744500-image0_1.jpeg


Since becoming a “dogecoin millionaire” on April 15, Glauber Contessoto has continued to hold rather than sell — despite the coin’s ups and downs, he tells CNBC Make It. And now he says he’s a millionaire twice over.

Contessoto says he invested over $180,000 in dogecoin on Feb. 5, when it was priced at about 4.5 cents, and hasn’t looked back.




“I had already anticipated that [dogecoin] would drop,” Contessoto, 33, says, “and sure enough, it happened.”

Indeed, after reaching an all time high of about 73 cents on Saturday in anticipation of Elon Musk’s appearance on NBC’s “Saturday Night Live,” dogecoin then fell below 50 cents as the Tesla CEO called the cryptocurrency a “hustle” on TV.

Contessoto likened what happened around SNL to what happened with the price around the community-proclaimed “Doge Day,” April 20.

“The whole week leading up to it, everyone was hyping it up, prices going up, and then it crashes,” he says. “It’s the same pattern.”

On Thursday, dogecoin continued its decline below 40 cents after Musk announced that Tesla would no longer accept bitcoin as payment for its vehicles over environmental concerns.




But the price then started to go up again Thursday night after Musk tweeted that he’s “working with doge devs to improve system transaction efficiency. Potentially promising.” Musk had recently taken a Twitter poll as to whether Tesla should accept dogecoin.

This volatility is a reason why experts are very skeptical of dogecoin, even more than other cryptocurrencies, saying it’s highly speculative and a so-called meme trade based on social media buzz. They warn that investors could get burned.

For instance, Mike Novogratz, a crypto bull and founder and CEO of Galaxy Digital, previously told CNBC’s “Squawk Box” that while bitcoin is “a well-thought-out, well-distributed store of value that’s lasted for 12 years and is growing in adoption,” while dogecoin “literally has two guys that own 30% of the entire supply.” Bitcoin also has an extensive and well-funded ecosystem that does not exist with dogecoin, he said. And dogecoin does not have a supply cap like bitcoin does, all of this making it a much more risky investment, according to experts.

But the volatility doesn’t worry Contessoto, and he’s very bullish on the meme-inspired cryptocurrency long-term. In fact, he has since spent more money buying the dip — on Sunday, for example, he invested another $17,500 when dogecoin was trading around 47 cents, he says.

Contessoto says he used money he earned by selling other cryptocurrency he owned, along with money leftover after paying bills from his day job paycheck, he says. (Contessoto works at a music company in Los Angeles.)

“It’s taken me a long time, but I’ve learned how to stomach things like this,” Contessoto says. “The only way you’re going to guarantee your profit is holding long-term, like Warren Buffett has said about stocks. And I believe that wholeheartedly.” (Buffett is not a fan of cryptocurrency and says it has no value.)

As of about 7 p.m. EST on Thursday, Contessoto’s dogecoin balance is over $2.03 milion.

www.cnbc.com

This 'dogecoin millionaire' refuses to sell and bought during the dip — now his stash is worth $2 million

Since becoming a "dogecoin millionaire" on April 15, Glauber Contessoto has continued to hold — despite the ups and downs, he tells CNBC Make It.
www.cnbc.com www.cnbc.com
Click to expand...
 
M

Mrfreddygoodbud

Rising Star
BGOL Investor
geechiedan said:
This ‘dogecoin millionaire’ refuses to sell and bought during the dip — now his stash is worth $2 million


106872490-1619110744500-image0_1.jpeg


Since becoming a “dogecoin millionaire” on April 15, Glauber Contessoto has continued to hold rather than sell — despite the coin’s ups and downs, he tells CNBC Make It. And now he says he’s a millionaire twice over.

Contessoto says he invested over $180,000 in dogecoin on Feb. 5, when it was priced at about 4.5 cents, and hasn’t looked back.




“I had already anticipated that [dogecoin] would drop,” Contessoto, 33, says, “and sure enough, it happened.”

Indeed, after reaching an all time high of about 73 cents on Saturday in anticipation of Elon Musk’s appearance on NBC’s “Saturday Night Live,” dogecoin then fell below 50 cents as the Tesla CEO called the cryptocurrency a “hustle” on TV.

Contessoto likened what happened around SNL to what happened with the price around the community-proclaimed “Doge Day,” April 20.

“The whole week leading up to it, everyone was hyping it up, prices going up, and then it crashes,” he says. “It’s the same pattern.”

On Thursday, dogecoin continued its decline below 40 cents after Musk announced that Tesla would no longer accept bitcoin as payment for its vehicles over environmental concerns.




But the price then started to go up again Thursday night after Musk tweeted that he’s “working with doge devs to improve system transaction efficiency. Potentially promising.” Musk had recently taken a Twitter poll as to whether Tesla should accept dogecoin.

This volatility is a reason why experts are very skeptical of dogecoin, even more than other cryptocurrencies, saying it’s highly speculative and a so-called meme trade based on social media buzz. They warn that investors could get burned.

For instance, Mike Novogratz, a crypto bull and founder and CEO of Galaxy Digital, previously told CNBC’s “Squawk Box” that while bitcoin is “a well-thought-out, well-distributed store of value that’s lasted for 12 years and is growing in adoption,” while dogecoin “literally has two guys that own 30% of the entire supply.” Bitcoin also has an extensive and well-funded ecosystem that does not exist with dogecoin, he said. And dogecoin does not have a supply cap like bitcoin does, all of this making it a much more risky investment, according to experts.

But the volatility doesn’t worry Contessoto, and he’s very bullish on the meme-inspired cryptocurrency long-term. In fact, he has since spent more money buying the dip — on Sunday, for example, he invested another $17,500 when dogecoin was trading around 47 cents, he says.

Contessoto says he used money he earned by selling other cryptocurrency he owned, along with money leftover after paying bills from his day job paycheck, he says. (Contessoto works at a music company in Los Angeles.)

“It’s taken me a long time, but I’ve learned how to stomach things like this,” Contessoto says. “The only way you’re going to guarantee your profit is holding long-term, like Warren Buffett has said about stocks. And I believe that wholeheartedly.” (Buffett is not a fan of cryptocurrency and says it has no value.)

As of about 7 p.m. EST on Thursday, Contessoto’s dogecoin balance is over $2.03 milion.

www.cnbc.com

This 'dogecoin millionaire' refuses to sell and bought during the dip — now his stash is worth $2 million

Since becoming a "dogecoin millionaire" on April 15, Glauber Contessoto has continued to hold — despite the ups and downs, he tells CNBC Make It.
www.cnbc.com www.cnbc.com
Click to expand...

uh there are a couple of dudes that are pretty popular here that made off with a milly plus in the last two years..

Im not going to mention their names..but they are still around...

and post in this thread often
 
geechiedan

geechiedan

Rising Star
BGOL Investor
Mrfreddygoodbud said:
uh there are a couple of dudes that are pretty popular here that made off with a milly plus in the last two years..

Im not going to mention their names..but they are still around...

and post in this thread often
Click to expand...
well if you know then theyve already said it so whats the point of being coy?
 
C

Cali2Jerz

Star
Registered
geechiedan

geechiedan

Rising Star
BGOL Investor
largebillsonlyplease said:
But again the only reason there is a problem with it institutionally is because they don't control it

the same institution had no problem shutting down trading because they were caught being greedy and needed to get into better positions to make money because the people were making too much.
Click to expand...
U.S. WANTS TO REQUIRE THAT LARGE BITCOIN TRANSACTIONS ARE REPORTED TO IRS
A tax enforcement proposal from the Biden administration may compel businesses to report bitcoin transactions exceeding $10,000 to the IRS.
bitcoinmagazine.com

U.S. Wants To Require That Large Bitcoin Transactions Are Reported To IRS

A tax enforcement proposal from the Biden administration may compel businesses to report bitcoin transactions exceeding $10,000 to the IRS.
bitcoinmagazine.com bitcoinmagazine.com
 
largebillsonlyplease

largebillsonlyplease

Large
BGOL Legend
geechiedan said:
U.S. WANTS TO REQUIRE THAT LARGE BITCOIN TRANSACTIONS ARE REPORTED TO IRS
A tax enforcement proposal from the Biden administration may compel businesses to report bitcoin transactions exceeding $10,000 to the IRS.
bitcoinmagazine.com

U.S. Wants To Require That Large Bitcoin Transactions Are Reported To IRS

A tax enforcement proposal from the Biden administration may compel businesses to report bitcoin transactions exceeding $10,000 to the IRS.
bitcoinmagazine.com bitcoinmagazine.com
Click to expand...

that's all this shit hole cares about
they'll make sure they tax you to death and give tax breaks to the wealthy
 
audio syndicate

audio syndicate

Social Critic At-Large
BGOL Investor
Cali2Jerz said:
Thx
What’s the name of the coin? I see a bunch of different ones being mentioned.
Click to expand...
Join coin is the first one, but there are 2 other coins being developed - love coin and Africa coin. The projects are in their infancy and you can participate in the development. There are project management, design, coding opportunities. There is a daily live chat at 9pm and some of those nights are coding nights if you want to learn. This went from an idea to now being built in the matter of a couple of months. Dope project to connect with though...
 
blackbull1970

blackbull1970

The Black Bastard
Platinum Member
Is It Legal for a Town to Create Its Own Currency?


By Richard Dahl on June 25, 2020 11:15 AM

blogs.findlaw.com

Is It Legal for a Town to Create Its Own Currency? - FindLaw

Some towns are creating their own currency to take the economic sting out of coronavirus lockdowns. How does that work? And it is it legal?
blogs.findlaw.com blogs.findlaw.com


Little Tenino, Washington (population 1,884) has come up with a seemingly novel way to ease the economic pain caused by the coronavirus lockdown: Create the town's own currency.

Mayor Wayne Fournier was looking for a way to help individuals and families who were hurt when businesses were forced to close down when the idea came to him at a town meeting. During the Great Depression in the 1930s, Tenino had printed its own wooden dollars to help the local economy — why not do it again?

Fournier and city officials decided to reintroduce the wooden currency, using an old printing press to imprint thin sheets of wood with an image of George Washington and the phrase, "habemus autem sub potestate," which basically means, "We have it under control."

Here's how it works: The town set aside $10,000 to assist residents with incomes that fall under the poverty line. Those people become eligible to apply for money from that fund. Instead of receiving cash, however, they get the wooden currency, which comes in notes worth $25 each. Applicants can receive up to 12 per month, or $300, and their use is limited to Tenino merchants who provide essential goods and services, not including liquor, cigarettes, or marijuana. The merchants may then submit redemption requests to the city for real U.S. cash.

Why not just give residents the cash? Because the local currency means that the money stays in the community and is not sent out to Amazon or other online retailers.


Is It Really Money?

The authority to print money in the U.S. rests solely with the federal government, and the only legal tender in the country is the U.S. dollar.
So, while the Tenino Wooden Dollar sounds like a great idea, is it legal?

If it really were a competing currency, the answer would be no. But it's really more like scrip — a certificate that can be exchanged for goods — and scrip has been used by all manner of towns, regions, companies, and organizations for hundreds of years. As long as they are not used to avoid taxes and can be exchanged — or ultimately exchanged — for U.S. dollars, they are legal.

"No one is going to be held accountable for this because they are not actually creating money, as it's legally defined," Jesse Kraft of the American Numismatic Society told CNN in evaluating the Tenino currency. "These are just tokens that are creating an economic stimulus."

Other Towns That Have Launched Their Own Currency

Towns in other countries hammered by the pandemic have taken similar measures.
The Italian town of Castellino del Biferno (population 550) started printing a local currency called the Ducati in April.

In Mexico, the town of the Santa Maria Jajalpa (population about 6,000) has created a new currency, "jajalpesos," that residents can use to buy local food.

Historically, there's a strong connection between hard times and the emergence of "community currencies," visiting Boston University professor Jim Stodder told the Washington Post. "Any time we have a serious downturn in which people are short of money, these things tend to pop up," he said.

Usually, they stick around for a few years or less and then die out. But some live on. Most notably in the U.S. a community currency called BerkShares has been used in western Massachusetts since 2006.

Do They Have a Future?

Local currencies sound like a good way to keep the money local. In the United Kingdom, however, many that emerged with great expectations have called it quits, in large part because they haven't kept up with digital payment developments.

But some, like the Bristol Pound in England and the Calgary Dollar in Canada, are.

There are, or have been, more local currencies in the world than we realize — 3,500 to 4,500 such systems in 50 countries in the last few decades — and if the pandemic lingers, those numbers will probably escalate.
 
geechiedan

geechiedan

Rising Star
BGOL Investor
blackbull1970 said:
Is It Legal for a Town to Create Its Own Currency?


By Richard Dahl on June 25, 2020 11:15 AM

blogs.findlaw.com

Is It Legal for a Town to Create Its Own Currency? - FindLaw

Some towns are creating their own currency to take the economic sting out of coronavirus lockdowns. How does that work? And it is it legal?
blogs.findlaw.com blogs.findlaw.com


Little Tenino, Washington (population 1,884) has come up with a seemingly novel way to ease the economic pain caused by the coronavirus lockdown: Create the town's own currency.

Mayor Wayne Fournier was looking for a way to help individuals and families who were hurt when businesses were forced to close down when the idea came to him at a town meeting. During the Great Depression in the 1930s, Tenino had printed its own wooden dollars to help the local economy — why not do it again?

Fournier and city officials decided to reintroduce the wooden currency, using an old printing press to imprint thin sheets of wood with an image of George Washington and the phrase, "habemus autem sub potestate," which basically means, "We have it under control."

Here's how it works: The town set aside $10,000 to assist residents with incomes that fall under the poverty line. Those people become eligible to apply for money from that fund. Instead of receiving cash, however, they get the wooden currency, which comes in notes worth $25 each. Applicants can receive up to 12 per month, or $300, and their use is limited to Tenino merchants who provide essential goods and services, not including liquor, cigarettes, or marijuana. The merchants may then submit redemption requests to the city for real U.S. cash.

Why not just give residents the cash? Because the local currency means that the money stays in the community and is not sent out to Amazon or other online retailers.


Is It Really Money?

The authority to print money in the U.S. rests solely with the federal government, and the only legal tender in the country is the U.S. dollar.
So, while the Tenino Wooden Dollar sounds like a great idea, is it legal?

If it really were a competing currency, the answer would be no. But it's really more like scrip — a certificate that can be exchanged for goods — and scrip has been used by all manner of towns, regions, companies, and organizations for hundreds of years. As long as they are not used to avoid taxes and can be exchanged — or ultimately exchanged — for U.S. dollars, they are legal.

"No one is going to be held accountable for this because they are not actually creating money, as it's legally defined," Jesse Kraft of the American Numismatic Society told CNN in evaluating the Tenino currency. "These are just tokens that are creating an economic stimulus."

Other Towns That Have Launched Their Own Currency

Towns in other countries hammered by the pandemic have taken similar measures.
The Italian town of Castellino del Biferno (population 550) started printing a local currency called the Ducati in April.

In Mexico, the town of the Santa Maria Jajalpa (population about 6,000) has created a new currency, "jajalpesos," that residents can use to buy local food.

Historically, there's a strong connection between hard times and the emergence of "community currencies," visiting Boston University professor Jim Stodder told the Washington Post. "Any time we have a serious downturn in which people are short of money, these things tend to pop up," he said.

Usually, they stick around for a few years or less and then die out. But some live on. Most notably in the U.S. a community currency called BerkShares has been used in western Massachusetts since 2006.

Do They Have a Future?

Local currencies sound like a good way to keep the money local. In the United Kingdom, however, many that emerged with great expectations have called it quits, in large part because they haven't kept up with digital payment developments.

But some, like the Bristol Pound in England and the Calgary Dollar in Canada, are.

There are, or have been, more local currencies in the world than we realize — 3,500 to 4,500 such systems in 50 countries in the last few decades — and if the pandemic lingers, those numbers will probably escalate.
Click to expand...

BerkShare_5-front.jpg


from the website:

Anyone in the Berkshire Region may spend BerkShares or accept BerkShares for payment. BerkShares can be obtained at participating bank branches in exchange for U.S. dollars at a rate of 95 cents per BerkShare. These federal dollars remain on deposit at the BerkShares Exchange Banks in order to allow citizens to redeem BerkShares for dollars at the same exchange rate. For example, 95 dollars yield 100 BerkShares and 100 BerkShares yield 95 dollars. BerkShares can be spent at face value to pay for the goods or services offered by participating businesses—for example, 10 BerkShares can be used for a $10 purchase.



There are 400 businesses in the Berkshire region that accept BerkShares. Use our interactive directory to explore where to spend your BerkShares or see them all at once in our pocket directory.
 

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