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  • Writer's pictureGerard Kavanagh

Asset accumulation

Today's blog commentary is centred around a Quartz article on the wisdom of accumulating assets, as the ultimate way to get ahead and not just attain wealth but keep it. The wealthiest crypto owners don’t spend it ( "There’s a wealth gap in cryptocurrency ownership: Those who invest in crypto are better off than those who spend or send it. The US Federal Reserve for the first time included questions about cryptocurrency in its annual economic well-being survey. The Fed’s results, released in a report (pdf) on May 23, show a split in the roughly 12% of US adults who say they own crypto. About 10% said they bought or held cryptocurrencies such as bitcoin or ether as an investment in the last year, while about 2.5% said they either bought something with crypto in the last year or sent it to family and friends. This data suggests that most crypto holders—who are disproportionately wealthy and have access to bank accounts, credit cards, and retirement savings—don’t actually use it for anything other than speculation. And those who rely on it for payments or money transfers were likely hit hardest in the last six months as the bottom fell out of the crypto market. Who invests in crypto? The division between crypto investors and crypto transactors is stark. “Those who held cryptocurrency purely for investment purposes were disproportionately high-income, almost always had a traditional banking relationship, and typically had other retirement savings,” the Fed wrote. Of those investing in crypto, 46% had an income of $100,000 or more while 29% earned less than $50,000 each year. By contrast, only 24% of crypto transactors made $100,000 while about 60% made under $50,000. Crypto investors were also much likelier than crypto transactors to have a bank account (99% vs. 87%), a credit card (97% vs. 73%), and a retirement savings account (89% vs. 71%).

Crypto advocates bill it as an alternative financial system set apart from central and private banks. But recent downturns in the crypto markets have mimicked those in the traditional financial markets, leading many analysts to surmise that corporate and institutional investment in crypto has linked the two markets. Thus, crypto is no longer seen as a reliable hedge against rising inflation. The crypto markets are crashing If you have invested in crypto since the start of 2021, you’ve likely lost money. The price of bitcoin has fallen to about $32,000 a coin, seeing its peak price of $64,000 halved in just six months. Ether, the native currency of the Ethereum blockchain, home to most nonfungible token (NFT) projects, has similarly lost half of its value since November 2021. Even so-called stablecoins aren’t proving stable during this downturn. The algorithmic stablecoin TerraUSD and its sister cryptocurrency LUNA went to zero after a mass sell-off this month, burning those who considered TerraUSD a safe store of value that’s always pegged to the US dollar. The new Fed report shows that those who treat cryptocurrency as more than playthings for high-risk speculation are disproportionately unbanked and low-income. They depend on crypto’s purchasing power to buy things and transfer money. Inflation is up 8.5% year over year, but crypto is still not a safe store of value. In fact, it’s unregulated and highly volatile, and even the coins marketed as stable offer no legal assurance that they will maintain their full value. Crypto investing may be fun for people looking to diversify a complex portfolio of financial assets, but crypto can severely hurt low-income and unbanked people who put faith in its services." Why are they wealthy because they treasure assets, assets not cash, make you wealthy ..... the last 50 yrs for the boomers in the west as borne this out, and now we have a young generation of disenfranchised individuals. It is of course your choice, whatever works best for your situation, but our NFTs are assets, they are cheap assets and we would simply say if you wanna be protected from the coming econ storm and increased taxes for fixed asset holders ..... then our portable store of value is what you should be accumulating. Let's rehash who FIX00 are: "FIX00 has verifiable gemstones, our own assets, with an appraised value of $16bn, and we will be holding those assets in a secure depository, fully insured with a legal trust preventing any sales (with those costs borne by us in perpetuity). Our Utility Token demonstrates this. We will then reconstitute those assets in NFT format on a fractionalised and finite basis, which in turn makes them affordable for the people and not just the elites. As with the Reagan/Thatcher era state asset selloffs (tokenism of its time?), we ensure the NFTs are priced to offer value, therefore upside, and a vibrant aftermarket. Our digital rubies will be deeply discounted at fixed prices; we will look to issue these NFTs at no more than 1/3 of appraised value. The idea is twofold, firstly, to bring a unique (effectively asset-backed) real-world collectible to the crypto-verse, obviously in digital form - this would be designed to benefit the average person not just the wealthy, and allow them to enjoy the ownership, upside, and protection of such assets for the first time in history Secondly, to offer an alternative to the archaic real-world luxury closed markets - making them inclusive rather than exclusive, public not private, and transparent rather than opaque. A free and deep market where real people get to participate and benefit; a place that offers true price discovery" FIX00 is answering the call - protection, innovation, and deliverability.

The Reaganism/Thatcherism model of issuing shares of state assets (on the cheap purposefully) to all was a good idea for enfranchising, it was a model used globally, and those educated about it, those that understood the worth of assets, increased their wealth immeasurably. A similar system of wealth distribution from a state or a wealthy asset holder to the masses, the people, would work to enfranchise the young. To release them from their penury and to light a beacon not just of hope but much more importantly of COMMERCE. Of economic regeneration. As this scribbler has often been told, we want action not words. And the following Twitter interplay sums up what is wanted.

With no apology at all, you are not getting a Ponzi scheme but we can help with making you rich. So let me explain how we're going to enfranchise you: We are about to start marketing our inducement and there will be 4 tiers available on a first-come, first-served basis:

1) buying $7.5K worth of our tokens (1m @ 0.0075), and we will airdrop $25K worth of NFTs to that wallet within 8 weeks. Meaning it makes 3.3x your money.

We will have a total of $10m worth of tokens available at the 0.0075 price level.

2) buying $10K worth of our tokens (1m @ 0.01), and we will airdrop $25K worth of NFTs to that wallet within 6 weeks. Meaning it makes 2.5x your money. We will have a total of $30m worth of tokens available at the 0.01 price level.

3) buying $15K worth of our tokens (1m @ 0.015), and we will airdrop $25K worth of NFTs to that wallet within 6 weeks. Makes you 67% more money. We will have a total of $20m worth of tokens available at the 0.015 price level.

4) buying $18K worth of our tokens (1m @ 0.018), and we will airdrop $25K worth of NFTs to that wallet within 6 weeks. Makes you 32% more money. We will have a total of $20m worth of tokens available at the 0.018 price level.

We understand there is an affordability issue and we certainly want to cater to that, individual NFTs will be priced to that EVERYONE can afford them ..... but for the above discount we are suggesting community members and other interested pool their resources, form a Dao and use one wallet to avail of this great discount. Remembering we are already pricing the digital rubies at 1/3 appraised value, and as such we think there is a substantial value proposition for our community and investors. These are assets you can own, they are digital representations of real-world stores of value (rubies) and they are CHEAP by design ..... FIX00 is enfranchising not just the people but the cryptoverse.

For a short overview of the FIX00 project 🙂 please use this link: The Start of something new

If you still have questions, we are happy to have you join us. We take great pride in our company and the revolutionary change it heralds. Please feel free to contact us if you need further information or have further questions:: Contact Us

If you don’t want to miss out and are ready to buy NOW, please CLICK here: Coinsbit

The future is filled with promises for us all. We're glad you're with us.

We look forward to growing together:

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