Generation Bitcoin, a non-profit organization based in Bitcoin Atlantis, recently unveiled a groundbreaking initiative known as the Bitcoin Students Network (BSN). This program is designed to empower students by providing them with the tools and resources needed to explore and contribute to the world of Bitcoin. Spearheaded by Generation Bitcoin, the BSN serves as a comprehensive platform offering logistical support, educational materials, and financial assistance to students interested in the cryptocurrency.
Connecting Students Globally
The primary objective of the Bitcoin Students Network is to establish connections among students worldwide, facilitating collaboration and knowledge sharing among young individuals passionate about Bitcoin. By fostering the creation and expansion of student clubs dedicated to Bitcoin, the network aims to provide support and funding to these affiliated groups.
Empowering the Next Generation
Ella Hough, Co-founder and Project Lead at Generation Bitcoin, emphasized the significance of the term 'network' within the Bitcoin whitepaper. She noted that the word appears 21 times, suggesting a deliberate choice by Satoshi. The establishment of the Bitcoin Students Network is intended to empower students by offering them access to knowledge and networking opportunities, encouraging them to actively engage in the Bitcoin ecosystem. The network's mission is to break down barriers to forming student Bitcoin communities and reinforce Bitcoin's social layer, known as Layer 0.
Bridging Students and Industry
BSN serves as a vital link between students and the broader Bitcoin industry, promoting communication and collaboration between educational institutions and key industry stakeholders. By granting students access to resources, job prospects, and mentorship opportunities, the network aims to strengthen Bitcoin's human layer and foster a sense of community within the industry.
Core Values and Structure
At its core, the Bitcoin Students Network upholds values such as the pursuit of knowledge, open-source principles, proof of work, and first principles thinking. These principles form the foundation of BSN's decentralized yet structured framework, overseen by a founding team, an industry advisory board, and a student advisory board.
Empowering Students and Industry Players
For students, BSN offers a myriad of benefits, including the ability to establish or expand university Bitcoin clubs, access educational and professional opportunities, and connect with like-minded individuals in the Bitcoin community. Meanwhile, industry players are encouraged to engage with the network by organizing events, providing financial backing, sharing resources, offering mentorship, and presenting internship and job openings.
By fostering collaboration, knowledge sharing, and community-building, the Bitcoin Students Network aims to empower the next generation of Bitcoin enthusiasts and strengthen the global Bitcoin ecosystem.
Frequently Asked Questions
Which is stronger? 14k Gold or Sterling Silver?
Sterling silver, which contains 92% pure sterling silver instead of just 24%, is a stronger metal than gold or silver.
Sterling silver, also known as fine or sterling silver, is made of a combination of silver and other metals like copper and zinc.
The strength of gold is generally very high. It takes great pressure to break it apart. If you dropped an object on top to a gold piece, it would shatter into thousands rather than breaking into two halves.
Silver isn’t nearly as strong as either gold or silver. If you dropped an object onto a sheet silver, it would bend and fold with no damage.
Silver is usually used in jewelry and coins. Because of this, silver’s value is subject to fluctuations based upon supply and demand.
What are the 3 types IRAs?
There are three basic types for IRAs. There are three types of IRAs: Roth, Traditional, and SEP. Each has its own advantages and disadvantages. We’ll go over each of them below.
Traditional Individual Retirement Accounts
A traditional IRA allows you to contribute pre-tax money to an account where you can defer taxes on contributions made now while earning interest. Once you retire, withdrawals from the account are tax-free.
Roth IRA
Roth IRAs allow you to deposit after-tax dollars into an account. This allows earnings to grow tax-free. When you withdraw funds from the account for retirement purposes, withdrawals are also exempted from tax.
SEP IRA
Similar to a Roth IRA except that employees must make additional contributions. The additional contributions are taxed but earnings remain tax-deferred. When you leave the company the whole amount may be converted to a Roth IRA.
Can I add gold to my IRA?
The answer is yes You can include gold in your retirement plan. Because it doesn’t lose any value over time, gold is a great investment. It protects against inflation. It is also exempt from taxes.
Before investing in gold, you need to know that it’s not like other investments. You can’t purchase shares in gold companies, unlike stocks and bonds. These shares can also be not sold.
Instead, you should convert your gold to cash. This means that it will be necessary to dispose of the gold. You cannot just keep it.
This makes gold an attractive investment. Similar to other investments, gold can be sold at any time. With gold, this isn’t true.
You can’t even use your gold as collateral to get loans. To cover a mortgage, you may need to give up some gold.
What does all this mean? You can’t just keep your gold forever. You will have the need to make it cash someday.
But there’s no reason to worry about that now. Open an IRA account. Then you can invest your money in gold.
Statistics
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- Silver must be 99.9% pure • (forbes.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- The maximum yearly contribution to an individual’s IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
External Links
investopedia.com
regalassets.com
kitco.com
takemetothesite.com
How To
How to decide if a Gold IRA is right for you
Individual Retirement Account (IRA) is the most popular type. Individual Retirement Accounts (IRAs) are available through financial planners, banks, mutual funds and employers. Individuals are allowed to contribute up to $5,000 each year to IRAs without having to pay tax consequences. This amount is available to all IRAs, regardless of age. However, certain IRAs have limits on the amount you can deposit. You cannot contribute to a Roth IRA if you are under 59 1/2 years of age. You must wait until your age 70 1/2 to make contributions if you are under 50. Some people may also be eligible for matching contributions if they work for their employer.
There are two types primarily of IRAs. Traditional IRAs let you invest in stocks, bonds, and other investments. Roth IRAs only allow you to make after-tax money. Roth IRA contributions can be made without tax, but they will still be subject to taxes if you withdraw from it. A combination of both accounts may be preferred by some people. Each type has its advantages and disadvantages. How do you choose the best type of IRA for you? These are the three main things you need to remember:
Traditional IRA Pros
- There are many options for contributing to your company.
- Employer match possible
- You can save up to $5,000 per person
- Gain tax-deferred until withdrawal
- May have restrictions based on income level
- The maximum annual contribution limit is $5.500 (or $6.500 if married filing jointly).
- The minimum investment is 1000
- After the age of 70 1/2, mandatory distributions must be taken.
- For an IRA to be opened, you must have at least five-years-old
- Transfer assets between IRAs cannot be done
Roth IRA pros
- Contributions are exempt from taxes
- Earnings grow without paying taxes
- There are no minimum distribution requirements
- The only options for investing are stocks, bonds, or mutual funds
- There is no maximum allowed contribution
- There are no restrictions on the transfer of assets between IRAs
- To open an IRA, you must be 55 years old or older
You should be aware that not every company offers the same IRAs. For instance, some companies offer a choice between a traditional or a Roth IRA. Others offer the possibility to combine them. Noting that different types IRAs have different requirements, it’s worth noting. Roth IRAs don’t have a minimum capital requirement. Traditional IRAs only require a $1,000 minimum investment.
The Bottom Line
When choosing an IRA, the critical factor is whether you want to pay taxes now or later. If you’re planning to retire in the next ten-years, a traditional IRA may be the best option. If you are not able to retire within ten years, a Roth IRA may work better for you. However, it’s always a good idea for you to talk with a professional regarding your retirement plans. You need someone who knows what’s happening in the market and can recommend the best options for your situation.
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By: Nik Hoffman
Title: Empowering Students Worldwide: Generation Bitcoin Launches Bitcoin Students Network
Sourced From: bitcoinmagazine.com/business/generation-bitcoin-to-unite-student-groups-in-worldwide-network
Published Date: Mon, 04 Mar 2024 16:21:25 GMT
