Cryptocurrencies can be a key to increased wealth. No other asset class has performed as well recently and we don’t need to spell out its more obvious capabilities of decentralization. There are only 3 sources of negative cash flow that matter: taxes, payroll, and housing. If you have those 3 in order nearly everything else you do (Lambo or not) doesn’t matter.
Your business (contracting, online sales, specialty services) should accept cryptocurrencies. Whether you like it or not, over 20% of the consumer demographic will be using crypto by 2020. Payments of $LTC are confirmed in 2.5 minutes or less and as a merchant, you incur 0 fees to accept payment.
The cost of paying your vendors in $LTC is 0.001 LTC (24 cents) plus you cut out Visa or the Bank from making money on the exchange.
Is it safe?
The blockchain is the end product of the transactions produced by the coin’s p2p network consensus. Like THUT Accounting, it is a double spend database. What makes it safer than traditional currency is that is backed by cryptography, P2P and game theory and no central bank can print more money for their spending. Elliptic curve math underpins the security of Bitcoin.
Blockchain Solutions for your Business
Sign up at Coinbase as a merchant at Coinbase.
- Ledger Nano S Cryptocurrency Hardware Wallet – Although the blockchain is safe from being hacked, the exchange can be hacked so store you crypto on this Ledger Nano S.
If you want to learn more stick to white papers written only by coders and not finance/business people.
Based on electrical costs, we believed Bitcoin was due for a correction downward. But its value could go even higher all depending on how successful the upcoming Lighting Network fork is.
Until then we hold very little bitcoin (see portfolio below). Litecoin offers comparatively good value and we expect the price to at least reach $500 Cad ($400 USD). While we don’t encourage trading, at that time we will reevaluate bitcoin’s scalability issues, and decide whether or not to sell LTC. We recommend you start off with less than 4% of your wealth in cryptocurrencies. If you understand your position then you can dollar cost average an equal amount into any dips. Never hold more than 10% of your wealth in cryptocurrencies because of the risk involved.
Ethereum -developed for smart contracts has more diverse applications: a Swiss municipality uses it for citizen registration, and Switzerland’s largest banks have converged on a new blockchain powered by Ethereum network.
2017 was better than 2016, and 2018 will be better yet as we prepare you for your blockchain transformation.