Passcode: 921225 609916Meeting ID: 897 6816 7505 872 6346 8083
Darien: This is an update on our Fairfield Chamber of Commerce Members
We have again Rick Shaddock, Director of Education for the Fairfield Iowa Digital Currency Association
Our last talk was in April 2018 on KMCD radio. What is new?
Rick: This year, as members of the Chamber, we have a slightly new
Fairfield Iowa Digital Coin Association (rather than Fairfield Iowa Association for Digital Currency
Not all coin, not currency. some are utility coins, used for tracking merchandise, and even tokens for kid's games
We are a local chapter of the Digital Coin Association in Washington DC.
In DC there is a Chamber of Digital Commerce
You can see our web site and acivities at www.FIDCA.org
We started in 2013, and have had a table at Art Walk
We give people a little bit of Ethereum to new members
A lot of what we talked about in April 2018. still applies, and has come true.
We have a link at DigitalCoinAssociation.com/video
There was a dip in popularity of BTC and ETH in 2018, but it came back higher than ever
I only wish I kept talking because it is best to Buy the Dip, when prices are low
We talked when BTC was about $6000-9000, now about $40000 and high of $60000
you can find these prices on CoinMarketCap.com
Depending on when you bought Bitcoin when up 10 times. It pays to listen to the Chamber
We can be more bold now.
We see the Biden admin creating Trillions of Dolars from nothing.
1.2 Trillon for covid, now a $4 Trillion bill .
A trillion dollar bills would go 63000 miles up 1/4 to the Moon
We can't rely on the Dollar to save our hard earned money.
Prices go up not because of improved Apple, but Dollar has weaker buying power.
We discuss how to get digital coins, How to sell them. How to store them
How to do business and accept digital currency
No 3% going to Visa/MasterCard/Amex.
As a vendor, Once you are paid, you are paid. No charge back.
As a consumer, once you pay, you paid, no one to complain to
So it is more important that agreements be made solidly.
We are not financial advisors, just ordinary people asking each other questions
and giving opinions.
We emphasize Safety in storing digital currency and passwords.
And avoiding scams. Any time money is involved that is a magnet for scammers
A refresher on Trezor storage device, still good. We emphasize safety.
www.MetaMask.io is a Chrome browser you can store
Coinbase, Gemini, Binance.US can be hacked
We have been meeting through Zoom rather than in person.
although we may meet more now that Covid seems to be winding down.
We suggest using Telegram to keep up to date, and ask expert questions www.TeleGram.io
In 2018 we predicted Energy Efficient Coins would rise, and energy using coins
would go down
Bitcoin uses up more electricty than Argentina. Cambridge Bitcoin Electricty consumption Index CBECI.org
Indeed we saw that with Elon Musk's announcement that Tesla (for energy saving cars) would no longer accept BTC
Proof of Stake is taking over Proof of Work distributed ledger consensus algorithms or techniques
Richard Heart, a billionaire in digital currency, calls it Proof of Waste
This week he is launching a new, energy efficient version of Ethereum called Pulse,
Richard Heart's pulse. His Hex coin is a digital CD or Certificate of Deposit.
You earn interest on your digital currency the longer you agree to lock it up.
This also stabilizes the price
It will use a new system for Distributed Ledger Technology called Delegated
Proof of Stake
Proof of work started with Bitcoin, and hudreds, then thousands, then millions of transaction processing machines called miners
It has never been hacked, however is a bit of an "overkill"
Delegated Proof of stake delegates 33 or 100 delegated, trusted computer centers to process the transactions.
If one is hacked it will be out of sync with the others. Also some human oversight, by the miners, stake holders who all have a stake in the system being respected and honest.
Other energy efficient systems include Cardano, and Hash Graph
We want Fairfielders to benefit from this coming wave, the change from Dollars
to Digital Currency
We don't want any Fairfielders so miss the boat.
Washington DC is printing Trillions of Dollars, making them worth less and less.
Then we have to pay more and more at the grocery store, and gas pump.
We made 3 coins, as a club, to understand how the system works
BitRaam - similar to Bitcoin, in 2014 May
Raam token - on the Waves platform, a DelegatedPOS system
MahaCoin for Maharishi University - thank you token for donors
We donated some BTC to the local university in June 2018,
and a Bitcoin mining machine to a local chldren's School in May 2018
We offer to teach a free seminar at Fairfield High School.
Anyone 18 or over is welcome to join our Zoom meetings
The money they will be using in the future will be digital.
Iowa City Chamber of Commerce accepts Bitcoin via BitPay - May