Prompt: Digital art of husband and wife talking about cryptocurrency, by Larry Elmore, by Justin Gerard

Source

An apology for I have been busy for more than a week completing my research paper in my Ph. D. ICS program. So far, out of 11 in my list of references, I am done with four books and has been able to publish 10 articles using my son’s account, @kopiko-blanca. In writing those articles, I have been exploring the relationship between freedom and mission. Once I am done, I intend to integrate all the insights I learned into one paper.

Earlier this afternoon, I checked again my list and removed three books and so the number of books I have to complete is now reduced to just four. I think I can no longer write an article for I am already tired. Perhaps, tomorrow.

In this article, what I want to share is about my conversation with my wife since yesterday concerning cryptocurrency.

Inquiry about Ethereum

Our conversation started with her inquiry about Ethereum. She asked me if I am familiar with this name. I told her that Ethereum is the Queen of blockchain and cryptocurrency technologies, Bitcoin is the King, and Hive is the missing Cinderella.

She asked me if Ethereum is a stock as if she wants to invest in it.

I told her that it is not a stock. It’s both a blockchain and a cryptocurrency that big capitalists, big businesses, and governments want. However, for small players, they find Ethereum’s transaction fee very expensive. As I know Axie Infinity, the NFT blockchain based game that went viral during the height of the pandemic and the lockdown is based on this blockchain. For small players, if they want to buy ETH, which is Ethereum’s token, they can buy it on crypto exchanges like Binance and Coinbase.

For big players, they preferred Ethereum for they see in it a lot of utility. In fact, it is because of Ethereum that the number of decentralized apps multiplied. If I am not mistaken, the number is more than 10,000 and still growing.

And then my wife asked me how she can make money in Ethereum.

I told her that there are many ways to earn in Ethereum. The real question is if she has the money to invest.

Then she asked how much does she need to invest.

I told her that it depends on what project she is planning to enter into. There are more than 4,000 projects standing on the Ethereum blockchain. I gave her the types of projects that stand on Ethereum: games, decentralized finance, gambling, exchanges, collectibles, marketplaces, social media, and others.

And then I asked her who mentioned Ethereum to her. I told her that she already has a Hive account. Why not explore it instead? Everything that Ethereum has, you can also find in Hive. Hive's advantage is that it is not known yet so the potential is great. And then I reiterated that Ethereum is the blockchain and cryptocurrency of big bankers, big businesses, and big governments.

She replied that she saw Ethereum in one post.

Invest in Hive Instead

I told her that if she wanted to invest and she has a capital, do it with Hive instead of Ethereum. There is a savings interest in Hive, which is 20% per annum. That's bigger than what the banks are offering right now.

And then I mentioned $HBD and told her that if she can save 1 M PHP worth of HIVE Backed Dollar (HBD), she will receive an interest of 16,666.66 PHP every month. That's good for retirement. I think such an amount is more than enough for one person to cover the expenses in a month.

And then she replied, “Ok, fine. That's why I asked you because you are the one who knows more about it.”

She asked again another question how can she invest in Hive. And how much should her initial investment be.

I inquired about her goal. “Do you want to have a passive income? If you invest 100,000 PHP, you will receive a monthly interest of 1,666.66 PHP. It would be nice if its 1M PHP for you can cover your monthly expenses with its interest even if you don't have a job.”

And then she laughed asking me where shall she get such a huge amount.

I told her, “That's why if you don't have capital, blogging, gaming, etc. will provide you the initial capital you need. You can start small until you reach that 1M.

I added that there are so many ways to invest in Hive. If the investment is small, the yield is also small. No matter where you go, that’s how I see how blockchain networks work. Now if you want to speed up your growth, you really have to put in capital.

Two Hive Tokens: $CENT and $SME

And then I told her about the two Hive projects I am focusing on right now. Of course, I did not mention about $LEO for I only own a very small amount, of stakes in that token. I only mentioned $CENT and $SME. I told her that the three of us including our second son, have stakes in these two Hive projects. For now, the stakes are still small. Later, we can use these tokens to accumulate HIVE, convert them to HBD, and then save them to get that 20% interest per month.

And then I asked her about the video for her blog has been sleeping for the last 20 days. She told me to wait.

I told her that our son’s account has gone ahead of hers. Our youngest son’s account is also asleep. Our eldest son still doesn’t have Hive account. He is taking this opportunity for granted.

Missed Opportunity

And then I shared with her my idea about missed opportunity:

Treat Hive accounts as a rare asset. For now, it's still free. But time will come, it will no longer be free and getting a Hive account at that time will be very expensive once it goes viral.

I remember the year I suggested to my cousin to mint his art into NFT. At that time, opening an account was still free. After three years, now he has to pay a huge amount to open an account.

My wife replied, “Oh, what a pity!”

And then I responded, “That's why. Take your Hive account seriously. Consider it an investment into a digital real estate. When it becomes crowded, it's hard to get in.”

Self-Talk and Long Rant about Twitter and Facebook

And then I asked her if she knew what happened to Twitter and Facebook. And I began my self-talk and my long rant about Twitter and Facebook:

I told her that since Elon Musk bought Twitter, his goal is to make Twitter not only a platform for free speech but to transform it into an 'everything app', which mostly revolves around integrating financial transactions. That "everything app" idea has been in the mind of the team behind the LeoFinance project for 2 years. LeoFinance is Hive’s crypto platform. And then last May 1st this year, it was officially launched by the LeoFinance team. So, in reality, Elon Musk and Twitter are late. LeoFinance was way ahead. The only advantage that Twitter has is that it is a Web 2 platform and part of the mainstream while LeoFinance is Web 3 that many have not understood yet.

How about Facebook?

Facebook launched Threads on Instagram last July 5. As I know LeoFinance was also ahead of Mark Zuckerberg. I am not sure how true it is that Zuckerberg has reserved the name in advance even ahead of the LeoFinance. But as far as I know, if I am not mistaken, we have been using the threads alpha for months and just this May 1st, there was this campaign that I joined launching LeoFinance’s Threads beta. Again, because Facebook and Instagram are popular, Meta’s Threads were immediately noticed by many while LeoFinance's Threads that launched even two months earlier, many are still not aware of its existence.

And then, I concluded:

So, you see, Hive’s LeoFinance is way ahead of Elon Musk's "everything app" on Twitter and Zuckerberg's "threads" on Instagram. This means that those ideas are on the cutting edge of today's trends. It so happened that LeoFinance's platform is Web 3 and Twitter and Facebook's platform is Web 2 which is popular to many.

A Huge Transition is Going On

We are in the middle of a huge transition right now. The opportunity is in Web 3 projects. We just don't know when this trend will pick up. All we know is that both Facebook and Twitter are losing revenues and governments today are threatened by blockchain and crypto projects. That's why in the US, SEC is suing crypto exchanges like Ripple, Binance, and Coinbase. We don't know who's next.

In reality, there are no existing laws right now to treat crypto as securities. So, all existing laws are inapplicable.

One more thing, not all governments share the same belief in this matter. El Salvador for instance, they have made Bitcoin legal tender, meaning that is the medium of exchange in El Salvador right now. So, there is this forecast that several years from now, El Salvador will be one of the richest countries in the world. We are not sure if that will come to pass or not. When that time comes, we will know, if we are still alive.

The reason why some governments are against blockchain and crypto projects is because the financial control of the government, the central bank, and the commercial banks will be lost and it will be transferred to the people. That’s genuine sovereignty and that to me is real democracy, very far from the empty democratic talk of the political class these days.

What we have here on Hive is the real inclusive financial system and a concrete model for poverty alleviation, the exact opposite of what politicians and bureaucrats are trying to achieve.

And if the government really don't like crypto, why do they have a CBDC? Politicians are envious people. They don't like market initiative. They want to be the heroes and they want to do what the market is doing. You will notice that all the products of economic sectors that the politicians hijacked, either their quality would deteriorate or their prices would increase. And that is true in welfare, education, energy, and financial transaction. The only thing they can't enter is the food sector because people can't eat their papers and signatures.

Ok, I think that’s it for my self-talk and my long rant. Thank you for bearing with me. That’s all I can share about my conversation with my wife since yesterday concerning cryptocurrency.

Grace and peace!

What is Hive?

What is LeoFinance?

Note: This is the transcript I used in the 3Speak video where I talked about Conversation with My Wife About Cryptocurrency.