as someone who’s been in crypto since 2021 this is a bullish signal. Also, Bitcoin halving isn’t till April 19 2024 meaning that crypto will continue to rise because everyone is waiting for that event. Now the duration of a bull market after each Bitcoin halving can vary significantly. The bull market following the first Bitcoin halving in 2012 lasted approximately 18 months, which is around 540 days. After the second halving in 2016, the bull market lasted roughly 12-18 months, so that would be between 365 and 540 days. Therefore, if the next halving occurs on April 19 2024, the bull market could potentially end between April 2025 and October 2025. There is still a lot of money to be made.
Wednesday, March 13, 2024
Was I scammed? Or did I m make a smart investment!?
In 2016, I received communications from Mycelium. They were having a promotion - looking for investors:
"Whereas, in order to finance further development of the Mycelium Wallet Project managed by Mycelium SIA (“SIA”), a Latvian limited liability company, having its registered office at Rigasgatve 8, Adazi, Adazu novads, LV2164, Riga, Latvia, Mycelium Holding Ltd. conducts the saleof Mycelium Tokens (“Tokens”), which grant its holder a right to participate in the increase ofthe Mycelium Wallet Value and become a stakeholder of Mycelium Wallet.Whereas, on the Sale Event site term “Mycelium” refers to the Mycelium Wallet Project alone.All money raised through Sale Event will be exclusively used for development and marketingpurposes of Mycelium Wallet Project and related products and activities.Whereas, the Sale Event starts on May 1 st , 2016, 23.59 PST and ends on May 18 th 2016, 23.59PST. Whereas, the Participant is a valuable Participant of Mycelium, identifiable by his/her emailaddress and able to prove his ownership of Mycelium Tokens by sending Mycelium Tokensover the blockchain, and Mycelium considers it desirable and in its best interest that theParticipant be given an added incentive to advance the interests of Mycelium. "
1. G rant of Stock appreciation rights (SARs). Mycelium offers SARs to SIA stock through SaleEvent by way of sale of Tokens. A total number of Tokens sold will be equal to SARs for 5% oftotal stock of SIA. After the closing of Sale Event for the SARs conducted by Mycelium,Participant will be assigned SARs based on the number of Tokens purchased.
2. T erm of SARs. After the Sale Event’s closing Participant will have perpetual SARs with noexpiration date. SARs would not be diluted by any subsequent grants of SARs or options andTokens will represent the same number of SARs as determined after Sale Event’s closing.
3. T oken repurchase. In the event of SIA’s IPO Mycelium shall have a right to repurchaseParticipant’s Tokens and corresponding SARs at Tokens’ Nominal Value equal to the Tokens’purchase price during Sale Event in the USD based on BTC to USD BitcoinAverage exchangerate at the time of the Sale Event closing. When SIA decides to start paying dividends,Participant will have a right to sell Tokens to Mycelium for the Nominal Value or convert theTokens into class B nonvotingpreference shares of Mycelium SIA.
4. SARs Triggering Events . Participants SARs shall be triggered in the event of:a) sale of shares of SIA by Mycelium Holding Ltd . ;b) IPO and issuance of new SIA’s shares;c) SIA’s capital increase;d) sale, merger, or acquisition of the entire SIA company.
5. Exercise . After any Triggering Event, described in paragraph 4 of this Agreement, occurs,SARs shall be exercised automatically and Participant will receive an amount corresponding tothe SARs, assigned based on Participant’s Tokens, directly to Participant’s bitcoin account. Anypayment due to Participant shall be in bitcoins. No FIAT currency payments shall be madeunder this Agreement. It is Participant’s duty to keep the information related to Tokensownership as well as preferred bitcoin account, and email address, that Mycelium has on file,valid and updated. Participant must report any changes in Tokens ownership or bitcoin accountto Mycelium immediately.
I decided to give it a try and signed a 3 page contract (There's more than what I have posted here) - I never heard anything more. I am wondering if I may have $$ someplace and now do not know where to find it! OR was I scammed?
Bitcoin is the new gold. Hate it or love it, the dogs on top… and it’s gonna shine homie…
The volatility of Bitcoin was mostly driven by the predominance of Bitcoin exchanging being done P2P. Gold would be just as volatile in a situation which there’s been no evidence of value. In 1200 BC gold wouldn’t be more valuable than a bison pelt; because that pelt was needed to make clothing; clothing was needed to survive the winter.
With the large ETFs, the sailor guy, and governments now on their way to holding the majority share of Bitcoin, the price of the coin will stabilize and the market fluctuations? You could kiss those goodbye; once enough of the supply is controlled by entities like corporations, governments, ETFs, and Trusts the only way you’d see Bitcoin hit zero is if everyone collectively decided Bitcoin has no value; but, to assume that Bitcoin would simply have no value would be ignoring the $73k value per coin (at the time of writing). Bitcoin is more valuable than a Troy ounce. Bitcoin and gold both have perceived value and if everyone decided gold was no longer valuable, it’s value would not increase each year — it would just tank until it just became some cheap metal like copper.
The reason gold is used as a hedge during inflationary periods and as a store of wealth is because there is a collective agreement about its value; and because it could still be used in commerce should a fiat collapse.
Now, why is Bitcoin even relevant? Why is it even worth so much? It’s fucking stupid, right? Wrong.
Bitcoin offers you the same convenience of gold in the event of an economic collapse or fiat devaluation. Bitcoin can be converted into any fiat currency and any digital currency; and can be directly used in international commerce. Bitcoin can be reduced down an amount small enough to ensure that goods are exchanged at a fair value; it’s harder to do this with gold; even if you grind gold to a dust, you’d lose some of the dust and the trade for goods loses some of its fair value; also, it’s inconvenient to trade with 10 gold bricks than it is with 10 Bitcoin.
Gold is not safe anymore with Bitcoin present. Bitcoin offers more utility, asset safety features, and is easier to protect than a bar of gold. Bitcoin is future proof. Gold was good while it lasted and served it’s purpose but now Bitcoin fills that purpose and does a better job. Innovation sometimes happens in the most unlikely of places. Rockefeller thought people would forever use kerosene lamps— if I’m not mistaken.
As we progress as a civilization so does how we store value in modernized economical societies. Eventually the government won’t even print money, they’ll be producing their own digital currency which is already in the works. Gold is surging but it’s officially going to hit its peak before it begins to decline as Bitcoin takes its’ place.
The digital world we live in is moving faster each day. Gold had been a safe haven for years but Bitcoin is taking its place and it will continue to do so. Things change. The world progresses. We move forward. The only constant is change; the only thing that’s inevitable is change. Bitcoin is the future, whether people like it or not. You can either try to catch it early or miss it, while fighting it.
People have been fighting Bitcoin for years; since pre $5 per coin. It’s now at $73k a coin; that’s cheap for the new worlds value store — digital gold. Will there be technology better than Bitcoin, absolutely — but, the new technology will probably just be silver, platinum, or palladium in comparison.
Gold can’t do what Bitcoin can. If I had a Billion dollars in gold, I’d put it into Bitcoin once it’s stabilized. I’d never have to worry about storage, protection, minting, smelting, theft (to some degree), I have full custody and control and have 100% liquidity, can engage in international commerce, it appreciates in value, etc. holding gold when I could hold Bitcoin is dumb. I’d feel like the person trying to sell me gold was a con-man, trying to swindle me out of my money as if he was the Robinhood investing app — knowing the truth about Bitcoin is why people are snapping it up at any price. It’s undervalued.
It probably sucks to be England with all that gold… :(
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