An Auspicious Day!

My First Fiat Withdraw

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Today marks the beginning of the next phase of my journey with CITYUPTAKE.  I made my first withdraw of CITYUPTAKE rewards to fiat currency.  It has always been the plan to build up my CITYUPTAKE holdings to point where the residual would make a meaningful impact for my family.  While the price of TRX is disappointingly low, I felt it was time to start enjoying some of the fruits of my past actions.  CITYUPTAKE has been consistently rewarding me around 10K TRX each week, and I was using those rewards to buy other tokens to build more residual rewards, but many of those choices have not worked out very well–LEC, DICE, TWJ, I am looking at you!– so as you can see below, it was time to start paying myself.  

For those new to crypto, the process for converting a TRX coin to fiat currency can be done in numerous ways.  For me, I sent 10K TRX, gained from the weekly CITYUPTAKE reward drop, to my Binance account and set a limit order at an optimistic level.  Three days later there was a spike in the price of TRX and my limit order for BTC was filled.  I then sent the BTC to the Gemini exchange where I sold it for USD and I am currently waiting for the fiat to hit my checking account.  

If the price of TRX remains above 2.5 cents, I will be able to contribute an additional $1,000 dollars to my family’s budget each month.  Both my wife and I are teachers for the local school district, and I moonlight at the local community college as well.  These CITYUPTAKE rewards will match the income I get from teaching two courses at the local college.   While not life changing at the current price of TRX, it is meaningful and will fund a vacation in the summer.  And, who knows, maybe the price of TRX will rise to the point where 40K TRX a month means much more.

For the math wonks out there, $272 is 1.15% of my overall TRX value.  I get to withdraw 1.1% of my portfolio each week without my overall portfolio declining.  And get this, the formula to annualize a weekly return is: Annual Return = [(Weekly Return + 1)52 -1] * 100.  

If you run that equation with 1.15% per week, it is an annualized rate of return of 80%.  That assumes that the Trade Desk can keep performing as it has, but even if it dips, the annualized returns will be very high.  This is why I am such a fan of CITYUPTAKE, my main portfolio is safely staked, and I can cash in the weekly rewards.  It is an amazing system.




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David Hohnholt

My family is paramount to me. Both my wife and I teach for the local school district and enjoy the time it affords for trips with our girls. 

Crypto is a hobby that became a passion once I joined the CityUptake team.  It has been a real pleasure working to establish a company that offers the potential to positively impact any family that holds CITYUPTAKE. The weekly residual from my CityUptake holdings has already begun making a difference for my family.

 In my spare time, I like to explore the Franklin Mountains on the numerous bike trails that are available.  I also serve as Treasurer of two local non-profit organizations

Why the 1:1 and right-to-access business model

The reason for a guaranteed 1:1 exchange and upfront cost is it protects holder TRX from risk of loss. Since the trade desk is owned and operated by CITYUPTAKE, it is not considered holder funds so no holder TRX is at risk. This allows us to not be regulated as an investment company or be considered a security as no holder funds are at risk. The key to the utility token designation is the 1:1 peg and right-to-access model. 

This means CITYUPTAKE can function within the difficult and unclear crypto space.

The moment holder funds are at risk of loss, the entire platform comes under additional regulatory scrutiny. This is also why we have no guarantee of rewards and a pegged price of CITYUPTAKE to TRX where it is not listed on an exchange.

The only significant promise is the exchange of one digital ledger entry for another on a functioning Tron Blockchain. In other words, the 1:1 guaranteed exchange.

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