Crypto Lunch week 6 - Saving up to buy silver online, sell it locally for cash, and get groceries!
I won't need to buy garlic, anyway! Crypto Lunch is on a mission to document the process of privately converting cryptocurrency into cash. Since what makes crypto "crypto" is privacy and decentralization, there needs to be a way to use them privately, and without centralized systems like government or banks! My Crypto Lunch series has identified that goal, proposed a route, and is now accumulating crypto for a test run. Follow along with us!
Crypto Lunch began by identifying the problem:
Crypto MUST be able to function WITHOUT identifying the user (private) and without involving governments, corporations, or banks (decentralized). There's NO way to convert Bitcoin to cash without identifying oneself. I believe this is one of the main issues preventing mass adoption of cryptocurrency!
And more recently, a pathway to achieve the goal:
Buy bullion online with crypto, and sell it for cash at a local dealer! Privacy retained, not too expensive, not too difficult.
Others have tried this method before, with some success, although they offered warnings of high and hidden fees. When I go through the process, I'll document and post a detailed cost breakdown. But it's good to know it's doable!
So NOW what we need is to pool funds to make a minimum online order of bullion (2 oz). We have a plan. We just need more crypto!
Lunch Budget
Last week's post paid out 18.43 HIVE and 1.9 STEEM and have been added to the totals.
BTC: 0
HIVE: 65.87
STEEM: 16.38
CAD: 0
USD: 0
That's about 18 bucks, and we need around 80 for a minimum online order (silver price is UP this week). We're about 22% of the way to the first Crypto Lunch!
This week, in preparation for making the bullion order, I'll move some of the HIVE and STEEM into BTC. I was planning to do that today, but it seems things have changed, and I'm not sure how to do it privately anymore, so I'll investigate when I have some free time soon.
How to make Crypto Lunch happen
All are welcome to follow and enjoy the weekly adventure. But hopefully some curators also provide crypto to make the whole process happen! Here are a few ways to do that:
- upvote this post (on both chains if possible)
- send HIVE or HBD directly to my Hive wallet
- send STEEM or SBD directly to my Steem wallet
- send BTC directly (1NWGEhWfeg4kscoBUFNqzRT1UN7qjLgnVa)
- use a service like TipU
- send any kind of tokens to my Hive-Engine or Steem-Engine accounts
You can assist by offering information/advice, and spreading awareness of the project. Your help is very appreciated, because it will lead to more eyes on the issue, more crypto to buy lunch ingredients with, and more people learning how to make crypto part of everyday life. That's good for us all.
Thank you for reading and participating! There's no such thing as a free lunch, so I hope the crypto community feels I've earned one with this post. :)
Great Garlic Harvest of 2020
I'll do a full post soon, but that photo shows you a handful of today's harvest, the culmination of a few hours of work - and several months of letting them do their thing. My wife and I love garlic for its flavour and health benefits, and having such a bumper crop from the garden is a blessing. This will last us a few months. I'm going to dry this bunch to eat, and store another bunch to re-plant in October for next year's harvest!
The produce is starting to come in from the garden, so it would be great to get this order going. Then I'll get the silver, then cash, and then the groceries, to put together a meal taking advantage of the free fresh ingredients. Make hay while the sun shines, they say!
Hmm, how about this? Whoever donates the largest one-time amount (not cumulative) toward the bullion order will get $1 face value in 80% silver Canadian pre-1968 coinage, including shipping to any address in Canada (or the equivalent in digital payment options if you're outside my shipping range)!
Currently, the leader is @Kunschj with 21.25 HIVE (5 HBD). Just a little incentive, but hopefully people see the real value here is in working together as team to pool the funds to conduct an experiment that will lead to greater understanding of how crypto can be used privately. Projects like this break new ground and do a lot of good for a lot of people, and I like to think we're also making it fun. Let's do this : ))
Once the funds from Crypto Lunch are collected and converted to cash, along with the fresh produce coming in from my garden, I'll be able to make an awesome lunch for my wife @MediKatie and I! I can't wait to reach that goal of mine - a meal paid for PRIVATELY with cryptocurrency! Stay tuned for week 7, next Thursday.
DRutter
The garlic harvest looks awesome man.
Thank you for the information about precious metals too. I've been following silver and watching it go up.
I have to get a PO box before ordering any. For me it's not as much the privacy aspect as the asset protection aspect. I have a neighbor that I truly believe would rob me given the chance.
Have a great day.
Security comes first! You can't save if you're constantly under threat of being robbed of it. Good call bro.
I'm guessing the big thing for this is "privacy"?? But if you're prepared to send your delivery address to a bullion company, why not buy direct from silver stacker here on steem/hive. You may find you're doing a few people a favour and you can noth cut out the middle man (bullion dealer/exchange) and save each other a few $$$. Better still, the silver community is scattered all over the North American continental and you both could just meet in public to exchange and save on postage too.
Just a suggestion, and if you're game, I can make the connections for you.
Hey :)
Yeah, I think cryptos need to be private, or at least have an option for privacy. If not, why call them cryptos, and not just virtual currencies like the digital USD, or FB's Libra?
I can rent a PO box around the corner for $15 a month or $120 a year, prepaid in cash, no ID required, and get the order shipped there. I think there are similar boxes for rent in many towns and cities. Even some little corner stores in the middle of nowhere offer that service. Just saying since you mentioned shipping privacy.
You're right, there's nothing wrong with making it happen via private sale. If I do it ongoing, I may go that route. At first, I want to document the process that just about anybody can do, even if they don't have a trusted private connection. I'm trying to put together a sort of 'primer', a how-to that works for most people in most situations. To increase efficiency if I scale up and do this ongoing, you're very wise to suggest cutting out the middle man. And thank you for offering to help find a buyer/seller. I may need that for Lunch #2 when we get there!
Nice harvest. Whats your favorite online bullion dealer? I've found silvergoldbull.ca has one of the best selections.