It is possible to replicate this user experience on mainnet and it is easy for federated Chaumian mints to quickly become popular for widespread usage.
Below is a direct excerpt from Marty's Bent Issue #1266. "A Fedimint Signet appears out-of-the-wild. Sign up here for the newsletter.
After receiving signet cash tokens, user displays on Fluttermint's mobile app.
Eric Sirion, an open source protocol that allows anyone to create their own Chaumian Mints using the LNP/BP stack, announced earlier this week the launch of Fedimint's first public signet. This is an exciting signet that shows that the protocol's developers are making progress. A mainnet seems in sight.
I had the pleasure to take the signet version out for a spin.
Even though it is limited to signet, the functionality was quite magical. You can join a mint and receive signet tokens that are sats. You can also send those tokens. It was quite amazing how fast it took to join the Mint and receive sats via Sirion's faucet. It's easy to imagine how these federated miners can quickly become popular if they can be replicated on mainnet.
This was particularly evident on the receiving end of things. The tokens were delivered almost immediately after I created a QR invoice using my phone's camera. Although it remains to be seen whether this experience will continue when the protocol is available for wider adoption via the mainnet, this is a promising start.
We will keep you freaks updated on the progress of Fedimint development.
Onward!
Frequently Asked Questions
How much gold do you need in your portfolio?
The amount of capital required will affect the amount you make. If you want to start small, then $5k-$10k would be great. As you grow, you can move into an office and rent out desks. Renting out desks and other equipment is a great way to save money on rent. Only one month's rent is required.
It is also important to decide what kind of business you want to run. In my case, we charge clients between $1000-2000/month, depending on what they order. So if you do this kind of thing, you need to consider how much income you expect from each client.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. You might get paid only once every six months.
Before you can determine how much gold you'll need, you must decide what type of income you want.
I recommend starting with $1k-$2k of gold and growing from there.
Which precious metal is best to invest in?
Answering this question will depend on your willingness to take some risk and the return you seek. Gold has been traditionally considered a haven investment, but it's not always the most profitable choice. Gold may not be right for you if you want quick profits. If you have the patience to wait, then you might consider investing in silver.
If you don’t want to be rich fast, gold might be the right choice. If you are looking for a long-term investment that will provide steady returns, silver may be a better choice.
Can I own a gold ETF inside a Roth IRA
This option may not be available in a 401(k), but you should look into other options such as an Individual Retirement account (IRA).
An IRA traditional allows both employees and employers to contribute. An Employee Stock Ownership Plan (ESOP) is another way to invest in publicly traded companies.
An ESOP offers tax benefits because employees can share in the company stock and any profits that it generates. The money in the ESOP can then be subject to lower tax rates than if the money were in the individual's hands.
A Individual Retirement Annuity (IRA), is also available. An IRA allows for you to make regular income payments during your life. Contributions to IRAs can be made without tax.
How much should precious metals make up your portfolio?
To answer this question we need to first define precious metals. Precious metals are those elements that have an extremely high value relative to other commodities. This makes them highly valuable for both investment and trading. Gold is by far the most common precious metal traded today.
There are many other precious metals, such as silver and platinum. The price of gold tends to fluctuate but generally stays at a reasonably stable level during periods of economic turmoil. It also remains relatively unaffected by inflation and deflation.
All precious metals prices tend to rise with the overall market. That said, they do not always move in lockstep with each other. For example, when the economy is doing poorly, the price of gold typically rises while the prices of other precious metals tend to fall. Investors expect lower interest rates which makes bonds less appealing investments.
However, when an economy is strong, the reverse effect occurs. Investors prefer safe assets such as Treasury Bonds and demand fewer precious metals. Since these are scarce, they become more expensive and decrease in value.
To maximize your profits when investing in precious metals, diversify across different precious metals. Furthermore, because the price of precious Metals fluctuates, it is best not to focus on just one type of precious Metals.
What is a Precious Metal IRA, and how can you get one?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These rare metals are often called “precious” as they are very difficult to find and highly valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are often referred to as “bullion.” Bullion refers actually to the metal.
Bullion can be bought through many channels, including online retailers, large coins dealers, and some grocery shops.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. You'll get dividends each year.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. Instead, your gains are subject to a small tax. Plus, you get free access to your funds whenever you want.
Can I buy or sell gold from my self-directed IRA
However, gold can only be purchased with your self-directed IRA. To do so, you must first open a brokerage account at TD Ameritrade. If you already have a retirement account, funds can be transferred to it.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals can contribute up $1,000 per annum ($2,000 if they are married and jointly) directly to a Roth IRA.
If you do decide that you want to invest, it is a good idea to buy physical bullion and not in futures. Futures contracts are financial instruments that are based on gold's price. They allow you to speculate on future prices without owning the metal itself. You can only hold physical bullion, which is real silver and gold bars.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
irs.gov
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear in 1990 – WSJ
- You want to keep gold in your IRA at home? It's Not Exactly Legal – WSJ
investopedia.com
cftc.gov
How To
Tips for Investing in Gold
Investing in Gold is one of the most popular investment strategies worldwide. There are many benefits to investing in gold. There are many ways you can invest in gold. Some people purchase physical gold coins. Others prefer to invest their money in gold ETFs.
Before you buy any type of gold, there are some things that you should think about.
- First, you must check whether your country allows you to own gold. If it is, you can move on. You can also look at buying gold abroad.
- Second, it is important to know which type of gold coin you are looking for. You have the option of choosing yellow, white, or rose gold.
- Thirdly, you should take into consideration the price of gold. It is better to start small, and then work your way up. One thing that you should never forget when purchasing gold is to diversify your portfolio. Diversifying assets should include stocks, bonds real estate mutual funds and commodities.
- Lastly, you should never forget that gold prices change frequently. You need to keep up with current trends.
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By: Marty Bent
Title: Public Fedimint Testnet Launched On Signet
Sourced From: bitcoinmagazine.com/technical/public-fedimint-testnet-launched-on-signet
Published Date: Sat, 24 Sep 2022 03:00:00 GMT
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