More Information
On Saturday, I sent out some information about the new Crypto-based project I just joined and I immediately had questions that I want to address. So, in this email I want to list the questions that came up and give you the answers. Trouble is, I can't do that in one email really so I will get to some of them and then cover some others another time. But, before any of that, first off, let me group a few questions together under one roof...
Ultimately there were, as there always are, broad questions about why I wanted to get involved with this in the first place and why I am sharing. And I can answer those broad questions with one pretty simple statement.
I look for things that give me an opportunity to grow my portfolio, bring in income, add funds to my future asset pot and, if possible, also leverage my time and energy. And whatever that is must be set up so that an individual that wants to operate within that opportunity in a totally passive way can also get involved.
That is it in a nutshell. You can either find something, sit on it quietly saying nothing kind of like being a secret squirrel about the whole thing (which I tend to do with 90% of what I come across) or you can share it if you think it is good so other people can also gain some advantage from it.
Sometimes I don't share or I don't share for a while and it proves to be a great project and that means that I you could have alerted people to it sooner! And sometimes I share and it doesn't work out as hoped for or expected. That's just life, especially in the world of crypto. Mostly when I don't share the instincts holding me back prove to be correct. And sometimes when I do share, my instincts prove to be wrong.
I am labouring this point because what is critical to understand is that the intentions are always good and there are only two choices in this regard. Never share or be prepared to get it wrong sometimes. Now here's the irony, even when I approach something on the basis of "I'm just going to review this for a while and let you know what I really think about it later" there are those that want to jump straight in anyway.
Now, I am not advising and never advise anyone to get involved in a project, I am not giving advice at all. I am simply sharing information in the hope that one or two or more people completely change their lives around as a result of being introduced to an awesome opportunity. And that has happened with a lot of people over the years. But unusually, with this one, I am just putting it out there right at the start.
You could say that what I do is share stories about what I am involved with and what I am doing because, to be honest, I have a lifestyle that some find interesting. After all, I am totally my own boss and I work when I want to and get to make my own rules to a large extent.
I basically just signed up with this myself a few days ago. if you want to watch and wait, that's great but if you want to be starting at almost the same time as me, that's great also. The risks are known and in case they are not I am going to cover them in a little more detail anyway.
Sometimes the opportunities do not pan out, sometimes the trains don't get to the end of the line as we'd hoped. You could even argue that an annoying number of them do not pan out as hoped and intended but the indisputable fact here is that it only takes one or two of those trains to get there and perform as we'd hoped they would to compensate for the losers and go way beyond that simple compensation.
Crypto based projects really are like the old wild wild west but they are especially like the early days of railroads during that period being built across North America and setting pioneers off of their journeys into the unknown. The rewards at the end of the line were fantastic but the risks along the way were high.
I have no crystal ball, I have only my past experience, my hope and my willingness to help anyone else that climbs aboard the train.
So to some of the general questions:
Who are WeWe Global, LyoPay and Lyofi?
WeWe Global are a "what" rather than a "who". It is a a DAO (Decentralised Autonomous Organisation). In short, that means something established under a smart contract that has no employees, no bosses and moves forward, makes decisions, through a voting system.
Sounds laborious right? But the "voting system" is instant and involves normally a message sent out from one of the hubs inside the DAO that requires a YES or NO click or a short written reply. A DAO is what could, in the right circumstances, replace a corporation but, currently, it is still a pretty new concept and takes some getting your head around.
What you should know about WeWe Global is that they exist to connect a community that wants to get access to some great potentially high reward programs with those programs and to reward people who either want to work through leveraging their money and/or through leveraging their contacts. In other words, if you want to build a business with this you can but it is equally OK to just put your money to work and wait.
What you should know about a DAO is it cannot control your money or what happens to a project it was established for. It can only move forward with consensus. A good DAO is one where the voting consensus (the power if you prefer) is spread along many, many points (community members) and that is the case with this one. The project that interests me and got me hooked is Cloud Minting and Cloud Minting will release funds to you daily once up and running. And those funds, once released can be withdrawn into your own wallet pretty much straightaway.
WeWe (I know not the greatest name for keeping a straight face) link you into the LyoPay ecosystem.
LyoPay are a tech company working in the blockchain and crypto space. They have been established for a while now and have been doing something unusual. They have been setting up their shop based on the premise that crypto regulation is not only coming but it is inevitable. Therefore they have hit the ground running with a very compliance centred approach.
Now the Crypto industry is still not generally regulated. The toughest rules are in the USA and, guess what, they are not offering their services (yet) to USA based customers until they are fully compliant over there. As you know, in the USA that can literally mean having to satisfy 50 different rule books because of the State autonomy system. LyoPay are developing services across 9 different product/service areas with one of them being:
LyoFi a cloud minting service. Simplest way to explain this is to imagine renting a server and the servers only purpose is to store data and pay out a reward to the server owner for allowing that storage. This system is based on the "proof of space" protocol. It is "decentralised" storage and LyoFi use something called the IPFS (Interplanetary File System) which encrypts a piece of data and distributes it randomly into several different places. And it can, of course, instantly retrieve it when needed and piece it all together again.
Sounds like a spy story but it is just the way data storage is going now, well especially if you want absolute data security. Now an incentive is paid to the servers involved in this process, in this case by giving the server owners LyoCredit Tokens. Those tokens are then split among the people that have a share of those servers through a process called MINTING.
LyoCredit runs on the Binance Smart Chain. To see the detail on the smart contract that operates LyoCredit click the link immediately below. You will be able to see, for example, with your own eyes that the maximum supply of LyoCredit Tokens is just 250 million, That gives this coin serious future scarcity, a powerful factor in price/value.
It could be one person who rents an entire minting server or it could be 10 people who rent parts of it. LyoFi OWN the servers; Contributors (you perhaps) rent all or part of a server from LyoFi for a specific period of time. In this case, that time period is 900 days and during that 900 days you will receive a daily pay out that will amount to around 3 X what you put in. You can withdraw that reward at leisure and convert into (for example) bitcoin or ethereum within the WeWe Global system and then take it out to your own wallet.
So the feed is - bitcoin/ethereum into WeWe Global - money gets immediately converted to a euro value and used to rent server minting power in LyoFi server packages - daily reward paid back out (after a 10-day set-up period) into WeWe internal wallet and then you convert it to bitcoin/ethereum perhaps other cryptos in time and withdrawn at will to your own external wallet. That's the sum of it. Other services will come on line as we move forward.
Is It Risky? Well the answer to that has to be a stone cold YES. But when I look at it, it doesn't seem as risky as a lot of other things do. That is largely because I have a massive tolerance for risk born out of 10 years paddling around in the Crypto pool. But here's the takeaway answer to that question: EVERYTHING to do with cryptocurrency is HIGH RISK with potential for HIGH rewards. It is the nature of the game. You can't get a 3 X return without taking a risk. As they say in all the financial service product ads. CAPITAL AT RISK, period.
Do I have To Get Crypto To Get Involved? Yes you do, your best bet is to use bitcoin or ethereum to get started but getting crypto now is really easy. If you genuinely don't know how to buy crypto yet drop me an email. I can probably then direct you to a video somewhere that shows you.
There were other questions but this has been a long enough email I think.
Then watch this video on my webpage to see how to fund it: FUND IT VIDEO
And just so you understand a bit more about MINTING - check out THIS PDF.
All the very best
John
NB: If you have already set up an account through WeWe Global in readiness to start your journey into Cloud Minting the LyoCredit coin, then please send me your email address and Wewe Global username so I can add you into a resource community site to keep you totally up to date with everything as it develops.
I need to register you so I can't just send you a link for this. Annoyingly, when I see people signing up for the opportunity, I do not get to see their email address. It is a GDPR privacy thing and, as much as I agree with it, it just means that I can't automatically keep you posted. I am sure you understand and that explains why I didn't get in touch with you after you signed up (in case you wondered).
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