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In 2022, Is Black America Really Prepared to Take On Crypto, Avoid Its Risks, and Reap Its Potentially Huge Game-Changing Rewards?


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On 1/12/2022 at 12:27 AM, nels said:

 

I'd welcome your opinions and insights on this rapidly growing and potentially very important subject.

 

 

 

@nels

 

I recently got my first Helium Hotspot to earn 

money from the IoT.  It generates Helium which

is on the Ethereum blockchain, I wrote about

it in the Mzuri Crypto Report thread.

 

I think that any form of Crypto mining is the

way to go if you want to earn passive income. 

 

I have another unit on order and I plan to

expand upon this effort gradually over

time.

 

+++ THE MZURI CRYPTO REPORT +++

 

 

 

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@nels

 

This is a VERY important topic because we need 

to get off of the working for a living treadmill,  

otherwise known as the rat race, and earn more 

passive income, because that is the key to 

creating wealth.

 

Mining Crypto, and other methods of earning 

Crypto like investing, staking and lending, is 

a great way to earn income passively.

 

 

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10 hours ago, Mzuri said:

This is a VERY important topic because we need to get off of the working for a living treadmill,  otherwise known as the rat race, and earn more passive income, because that is the key to creating wealth.

Most people have to work for an income  (active) in order to cover their basic needs (food, shelter, clothing, education, etc.). 

 

Hopefully, they will have earned enough income to make investments leading to  passive income (real estate, stocks, bonds, etc.).

 

Accumulated income (active), personal property and capital gains (passive) produces wealth. 

 

Unless there is generational wealth, there is no getting around having to work. 😎

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52 minutes ago, ProfD said:

 

Most people have to work for an income  (active) in order to cover their basic needs (food, shelter, clothing, education, etc.). 

 

 

 

@ProfD

 

Not really.  Having to get a job is a mindset, like being

in poverty.  

 

Earning passive income is also a mindset, and can be 

easily achieved.

 

Especially now when people can earn income by using

the internet to setup websites or self-publishing books

and a hundred other ways.  

 

Obviously there is some initial work involved, but passive

income is not that difficult.

 


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@Mzuri, unless someone is born rich, they have to produce goods and/or perform services in order to earn income.  That's a job.

 

A prostitute doesn't make any money just laying around thinking about it.  There's some work involved regardess of mindset.😁

 

Poverty is a condition into which people are born.  Most folks do not choose it.

 

Getting out of poverty requires a different mindset, knowledge, skills, abilities, talent, opportunities and luck. 😎

 

 

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On Passive income:

“If it were easy everyone would be doing it.”

 

On Active Income:

”Do what you love and you’ll never work a day in your life.”

 

 Clichés yes, but I believe then to be true.

 

 

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  • 3 weeks later...

I'll be brief. As a generalization:

 

The (Far) Left | historically not Democrats - Political groups who support liberal or socialist policies and the attainment of big government and asset sharing and equality by any means necessary.

 

The (Far) Right | historically not Republicans - Political groups who support conservative or nationalist policies and the attainment of limited government, individualism and national sovereignty by any means available.

 

The (Center) Left and (Center) Right - Political groups who support reasonable compromise to promote and achieve goals that are in the best interest of all of the nation's citizens, sans full consensus.

 

The (True) Right and (True) Left - Political groups who do not support the ultra-polarization of the nation through extremist views that undermine national sovereignty and a level playing field for all legal citizens.

 

At the moment, black America seems too fragmented and dispersed into factions that have competing interests that do not serve the ultimate vision and goals of the black community, as a whole.

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On 1/12/2022 at 2:27 AM, nels said:

welcome your opinions and insights on this rapidly growing and potentially very important subject.

According to a survey conducted by the Brennan Center for Justice at NYU School of Law, as many as 11 percent of US citizens — and as many as 25 percent of African American citizens — don’t have government-issued photo ID.⁵

“The first thing I would want crypto to fix would be identity,” says Robert Greenfield, Head of Social Impact at ConsenSys. “A digital identity has more of a major impact than you can even fathom. If you don’t have a driver’s license, you can’t even participate in humanitarian aid programs.”
 

This was a statement in the first article. I don’t believe it is accurate and draws inaccurate conclusions.

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7 hours ago, nels said:

At the moment, black America seems too fragmented and dispersed into factions that have competing interests that do not serve the ultimate vision and goals of the black community, as a whole.

 

@nels  in your opinion when was black america not mostly fragmented, post war between the states? pre war between the states doesn't count cause most black people were enslaved to someone white. so even though a sameness existed it was in total impotency  

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1 hour ago, daniellegfny said:

 

If you don’t have a driver’s license, you can’t even participate in humanitarian aid programs

 

 

 

There are other forms of government issued

identification besides a driver's license. 

 

Here in Texas you can get a regular picture

I.D. from the DPS, it costs $16.00.  I'm sure 

that other states offer regular I.D.s as well.

 

There's also military I.D., passports, and

various certificates that might have your

picture on them.

 

I have four forms of picture I.D. so I don't

have any sympathy for a person that can't

even obtain one.

 

People need to stop making excuses 

about everything.

 


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2 minutes ago, Mzuri said:


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There are other forms of government issued

identification besides a driver's license. 

 

Here in Texas you can get a regular picture

I.D. from the DPS, it costs $16.00.  I'm sure 

that other states offer regular I.D.s as well.

 

There's also military I.D., passports, and

various certificates that might have your

picture on them.

 

I have four forms of picture I.D. so I don't

have any sympathy for a person that can't

even obtain one.

 

People need to stop making excuses 

about everything.

 


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11 hours ago, daniellegfny said:

According to a survey conducted by the Brennan Center for Justice at NYU School of Law, as many as 11 percent of US citizens — and as many as 25 percent of African American citizens — don’t have government-issued photo ID.⁵

“The first thing I would want crypto to fix would be identity,” says Robert Greenfield, Head of Social Impact at ConsenSys. “A digital identity has more of a major impact than you can even fathom. If you don’t have a driver’s license, you can’t even participate in humanitarian aid programs.”
 

This was a statement in the first article. I don’t believe it is accurate and draws inaccurate conclusions.



This is funny.

Daniellfgny, does not believe this statement from the Brennan Center of Justice is true. I am sure he has years of experience personally investigating the circumstances of each and every Black individual in the U.S.

Because it never occurs to him that hundreds of thousands Blacks who do not possess a valid photo I.D. might not have in their possession the needed documents that will be acceptable to most state of federal agencies tasked with issuing photo I.D.'s.

I guess he wants everyone to only believe Trump. 
 

The future is unclear for cryptocurrency. And some warn it may not be the financial salvation that many Blacks think.

There will likely be numbing fluctuations in cryptocurrency prices. And anyone who invests in crypto must accept the risk and the possibility of losing money.

Because if there’s constant feature of financial investments – it is volatility. Which is simply a sudden shift in investor sentiment which can result in fast and serious price swings.  

It is not as if the Black race has billions in disposable wealth that can be used for investments and which can absorb major downturns. The majority of Black income is used for housing, food and transportation.

The average annual income of U.S. Blacks was only $45,870 in 2020, according to Statista, the Hamburg, Germany, business database company. That is far below the annual income of Asian Americans and Whites, who are the top earners in the U.S.

But this is not stopping some Blacks from eagerly buying into the promise of cryptocurrency.

A lot of money is being tossed at actors, music artists and other celebrities as they promote and endorse crypto.

When it comes to getting rich, some will do according to their Need or Greed.

Here's another viewpoint:

https://time.com/6106706/bitcoin-black-investors/Bitcoin seen as Financial Nirvana by some Blacks

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20 hours ago, Stefan said:

Because it never occurs to him that hundreds of thousands Blacks who do not possess a valid photo I.D. might not have in their possession the needed documents that will be acceptable to most state of federal agencies tasked with issuing photo I.D.'s.

Actually having lost my ID multiple times at different financial states. There are government and social agencies which will help you get those need documents. 

20 hours ago, Stefan said:

The average annual income of U.S. Blacks was only $45,870 in 2020, according to Statista, the Hamburg, Germany, business database company. That is far below the annual income of Asian Americans and Whites, who are the top earners in the U.S.

I think that also is a gross underestimate. My average income fluxes from 50k to 130k. Now I would be more inclined to believe a regional breakdown of income by race.

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19 hours ago, daniellegfny said:

Actually having lost my ID multiple times at different financial states. There are government and social agencies which will help you get those need documents. 

I think that also is a gross underestimate. My average income fluxes from 50k to 130k. Now I would be more inclined to believe a regional breakdown of income by race.


Daniellefgny,

I rarely lost my I.D. and not all states will help you retrieve needed documents. And this is because one is never dealing with an actual state, one is usually interacting with a state employee who may or may not be inclined to assist.

I cited a legitimate and unimpeachable source as to where those stats came from. Now, where is YOUR proof for challenging those stats as incorrect? 

Stop expecting others to simply accept a rationale YOU offer. I always offer a legitimate source for my contentions. One wouldn't last long or be considered legitimate in the news business if all they were to do is offer spurious facts, baseless accusations or make a claim with little proof or no sourcing. 

One wouldn't last long as a blogger, writer or a pundit either. Unless they enjoy sophistry.

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2 hours ago, Stefan said:

cited a legitimate and unimpeachable source as to where those stats came from. Now, where is YOUR proof for challenging those stats as incorrect? 

“Legitimate and Unimpeachable” are value judgements. Conduct a random sample in your neighborhood. 

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9 hours ago, daniellegfny said:

“Legitimate and Unimpeachable” are value judgements. Conduct a random sample in your neighborhood. 


Legitimate means just what it says. You must be a fan of the network I call "Fox Spews." Most of its listeners and watchers don't bother doing any research. 

Which has contributed greatly to the dumbing down of this country and dismissal of well researched information. 

My information came from an acknowledged international source of economic statistics. You never identified where your information came from.

By the way, cryptocurrency is probably not the best place to park one's money. Too much uncertainty and greed. 

Couple charged with trying to unload billions in stolen cryptocurrency

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On 2/6/2022 at 4:53 AM, daniellegfny said:

I don’t believe it is accurate and draws inaccurate conclusions.

People get IDs if they want them and / or need them. It's not that much of a complex issue. The fragment "don’t have government-issued photo ID", does seem rather manipulative.

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