I don't know how motivational speeches are related to the economic section, but if they are, then let's talk in that sense. In order to be successful, you must have a plan on which you can work. Instead, you should not do what makes you excited, because I am excited when new movies or series come out; I am excited while playing games with my friends, watching cricket, or reading the news, or gossiping with friends. But these types of excitement will not take me towards success.
I have to follow a path that might not be followed by everyone. For example, on a single bench in school, there are two students, one of whom is a doctor and the other is a taxi driver. They both had the same opportunities and resources. One had a plan and knew the world was changing and he had to change himself now, while the other was enjoying the world and thinking that life is short, but he didn't think that even if life is short, everyone has to play their role in society by providing some type of service.
I am glad to know that you understand the significance of having a well thought plan and taking action with consistency to attain success. While everyone may not agree, motivational speeches are widely recognized for their pivotal role for achieving economic success as they often stress upon cultivating discipline, determination and hard work for pursuing life goals, in particular related to finance and career. |
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"In order to be successful, you have to find out what makes you excited. What makes you wanna get up each morning and go to work? If you love what you do and dedicate yourself to your work, you will gain that momentum and each success will create another success. Never quit, never give up. Do something you love. When you do something that you love, you'll never fail. What you are going to do is give it a shot again and again and again. You're ultimately going to be successful." - Donald John Trump
Some say he's an Idiot but something he says sometimes makes sense. LOL. What do you think about it? Is it some way to manipulate people or that's the right thing to do?
It is recognized by many people that if you put your heart in everything you do, it enhances chances of your success. When passion serves as the motivating factor behind your goals, it propels you to make your efforts consistently until you attain them. Regarding quote of former US president Donald John Trump, undoubtedly it is a good advice for aspiring entrepreneurs in any field of life, however it seems like motivational advice that can be found in various lectures of self-help and success lectures. It underscores the importance of finding passion in your work, dedication, resilience and never giving up. These are indeed qualities and convictions that can contribute to personnel and professional advancement. |
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It is true that investing in bitcoin is risky, but it cannot be said that depositing money in a bank is risk-free. Many banks have gone bankrupt and it is very difficult for people to get their money back, not everyone can easily or will be fully compensated if the bank goes bankrupt. To me, everything has risk, including bitcoin and banks. But taking risks with bitcoin will be much more worthwhile because if we succeed, the profits will be worth the risk we take. Meanwhile, banks' risk is not only bankruptcy but also currency devaluation due to inflation.
It is a fact that all forms of investments including our saving accounts or fixed deposits carry inherent risks. This is primarily because fiat money loses its purchasing power overtime and interest paid on deposit are usually lower than the prevailing rate of inflation. Additionally, as you mentioned in your post, there is also concern of bankruptcy and currency devaluation. In contrast to traditional instruments of investment, Bitcoin belongs to a unique class of assets, characterized by extended by extended periods of bear market, and relatively short lived bull cycles. Unlike bank deposits in banks, Bitcoin doesn't provide immediate rewards to its investors. However, as validated by its historical track record, it has delivered substantial rewards to those who held and consistently accumulated it during the bear cycles. |
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t's not only China, there are numerous countries in which gold is seen differently, both as a showcase of wealth, some safe way to keep your money hidden, a hedge against inflation, in some cases the distrust is so big they will embrace gold just because of that. Unfortunately and this is the second thing in this topic, Bitcoin seems quite unable to replicate this trust gold has on a larger scale, more are interested in the gains in value than in conserving that value over long periods of time or even security. But I guess you can't compete with things that have been around for thousands of years.
Indeed, Gold has a special place in human culture and finance for thousands of years, and its role extends beyond store of value, it is also used for manufacturing electrical components and parts, particularly in electronic industry. Beyond its industrial utility. traditionally, it is considered symbol of wealth, a safe heaven and jewelry. It is not surprising , if some Chinese real estate companies are using Gold as means to reward their customers, an elegant approach to marketing and promotion. |
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While Bitcoin's correlation with the traditional financial market rises and falls, it has more or less been established that influential macroeconomic trends can certainly affect Bitcoin. Bitcoin isn't anymore the isolated independent island that it may have been perceived. Although there's still a considerably amount of fluidity or unpredictability in Bitcoin's relationship with the traditional financial market, I don't think it won't be affected by such a huge economic crisis as a market crash in no less than the US. And considering how institutions are already part of the game, there will certainly be a significant sell off.
Your observation is valid about correlation between Bitcoin and traditional risky markets, highlighting how it can change with shifts in fundamentals of Bitcoin. I think it is also possible that once the market capitalization of Bitcoin approaches close to $6 trillion (estimated) similar to Forex market, it will become more stable and its price fluctuations will primarily influenced by its intrinsic strengths and weaknesses, rather than external factors tied to traditional financial markets. |
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Many factors can influence BTC volatility apart from ETFs, economic data releases, Powell's speech or bad news can also make BTC very volatile.
Certainly, there are various factors beside ETFs those can influence the Bitcoin price, in particular interest rate fluctuations and updates on regulatory developments. Today, Bitcoin is persistently making effort to breach $27,000, and if it succeeds surpassing this significant resistance, there is a chance ,we could see a minor rally in coming weeks, with the potential for Bitcoin to approach $30,000 mark, which is an important psychological barrier.
And I almost forgot that this crisis is also exacerbated by increasing tensions between Russia and Nato. Which causes increases in oil and food prices. If it continues, I am sure from the graph above that it will still be able to rise.
Hopefully this incident will end soon and return to normal. There is already too much FUD floating around, things are not always bad and not always good because the wheels will continue to turn and turn.
You are absolutely correct that Ukraine-Russia war is one of root causes of ongoing economic crisis that has caused rise in inflation due to rising fuel & food prices across the globe. We must raise our voices though all available platform of social media to compel world leaders to bring this conflict to an end through meaningful negotiations. |
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It will likely just be a quick decline for BTC and then pump up again going to the bull market. I would like to believe FED will start distributing stimulus packages again but this time they are turning the cash into digital currencies and this is where we can see more users are going to buy BTC as well. BTC will rise above all this turmoil and the government may declare it a legal tender.
While BTC goes up in value, the USD also will drop its purchasing power. Meaning BTC may have $100K in price but the purchasing power may also be suppressed because of USD value.
You are correct that Bitcoin may fall to $20,000 or even lower before it enters into bullish phase, and this forecast is also shared in analysis of many prominent crypto analysts. A lot of noise revolving around ETF approval may keep the Bitcoin price extremely volatile during the period before ETF of prominent institutions like Blackrock is finally approved, expected in first quarter in 2024. Moreover, it is also possible that many traditional banks including entities like HSBC are likely to allow investment and trading in Bitcoin and other cryptocurrencies, that can help them to grow their business and stay competitive in the market. |
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Indeed, alongside hands on experience, having a through understanding of Bitcoin, block chain technology and market dynamics is indeed important for making an informed investment decision. understanding these fundamentals allows investors to assess the potential of its technology and its long-term prospects. Additionally, adopting various strategies such as Dollar Cost Averaging (DCA), analyzing historical price patterns and utilizing technical indicators all play important roles in managing and optimizing the cost of investment.
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In the U.S., it's not just its debt. It's also about inflation and how "sticky" it currently is. It's laughable that everyone still believes the the Federal Reserve is in control. Inflation is in control, and it can't be controlled unless there's a recession. Jerome Powell can't have both a "soft landing" and a win against inflation.
Plus if U.S. Markets crash = Most of the rest of the world will also crash.
You are absolutely correct in your assessment that maintaining a delicate balance between controlling inflation and achieving soft landing is a very challenging task for Federal reserve chairman.There is no doubt that current economic situation is very tough but still FED has some additional tools on their disposal, such as reviewing current exchange rate of US Dollar and making necessary adjustments to boost US exports. This would be a difficult decisions and may have its consequences but it can potentially provide relief to US economy while also contributing to stability in financial markets. |
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I'm a pleb like most of you, and I too have, many times, become pesimistic about the economy in general and in what's about to come. But has anyone ever considered that,
- The economy is not going to crash into a recession
- That there will be an actual soft landing
- That the Russia - Ukraine war will not escalate into a European war
- That Gensler CAN'T truly ban crypto
- Institutional investors will come back and take Bitcoin to six digits
I'm probably missing more narratives, but you get the idea.
The economic predictions and geopolitical events often unfold differently than how they are perceived by the general public. It is important to think positive and avoid excessive pessimism and consider optimistic possibilities for keeping moral high. I agree with your viewpoint that economy will not crash to the level recessions as central banks worldwide have taken appropriate measures to avert such crisis. Furthermore, the growing popularity and increasing participation of prominent Institutions like BlackRock in Bitcoin, can eventually pave the way for its acceptance as both a legitimate method of payment and promising asset for investment. |
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Isn't it a common practice to sell assets during an economic crisis? It is true that the stock market and bitcoin have a strong correlation, and they both react to certain economic factors. There are people who think if they invest in the stock market, they won't get their money back, and there are people with the same mindset towards bitcoin as well.
Missmanagement and corruption are the reasons behind this bankruptcy, and there are some internal bad actors as well.
Selling assets during an economic crisis can be common practice, but it largely depends on an individual's financial situation, risk tolerance and investment goals. Bitcoin and stocks are two different asset classes and may react differently to economic crisis. How Bitcoin reacts to sever economic crisis, remains uncertain, as since its introduction in 2009, it has not experienced a serious economic meltdown. It is true that mismanagement, corruption and internal bad actors can be behind bankruptcy of any company, these issues often come to the forefront when interest rates are higher and broader economic environment is unfavorable. |
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When I registered on the forum the general belief was that a crisis would favour bitcoin but if we see that in March 2020 it went down like all financial assets and that the inflation crisis and rate hikes by central banks have not been good for it either, I doubt that if we enter a crisis like the one in 2008 the price will react well.
What I am pretty sure of, however, is that if that happens the central banks will change their policy, print again as if there is no tomorrow and that will be good for the price of bitcoin, the post-crisis, where much of that printed money will flow into bitcoin.
I held the similar views about Bitcoin that its price will surge during the economic crisis, when I first ventured into the world of Bitcoin investment back in 2017. However, during the course of my journey, I learned that Bitcoin has very strong correlation with stock market and both markets are indeed influenced by CPI data or interest rate announcements. This correlation suggests that general public tends to sell various assets in their possession, including Bitcoins, during the period of economic crisis to fulfill their basic needs. Regrading surge in bankruptcy filing, it is very disturbing development. I believe this issue may find some solution when FED starts reducing the interest rates in an effort to stimulate economic growth. |
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Starting today my journey in bitcoin I want to know many things from bitcoin and I am I can learn a lot from big people and if I am here I can check what is good and what is bad also easily I know it is known as one of the best currency in the world.
I'm new here and see a lot of people compare gambling games to bitcoin it's never possible bitcoin is the best everyone has to agree.
Starting your journey in Bitcoin is an exciting step into the world of cryptocurrencies and blockchains technology. It is important to have right perspective and understanding as you begin. Bitcoin is a valuable addition to our investment portfolio, but it is not without risks. Approach it with a well informed and balanced perspective. Some members have already shared here useful links that will undoubtedly enrich your knowledge of Bitcoin and help you to make right investment decisions. Addtio0nally participate in discussions on this forum to get up-to-date market information/insights and new development in crypto space. |
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Hello you guys,
Until now, there is no country officially accepted crypto for trading or purchase as I know. Can you explain why?
Moreover, do you think that which country could be the first?
As of now, there are two countries in the world have embraced cryptocurrencies, in particular Bitcoin as a legal tender, El-Salvador and Central African Republic (CAR) and Bitcoin be used to buy good and services in these countries. In El-Savador Bitcoin is utilized for various transactions including remittances of overseas workers to their families in Bitcoin. However, it is worth noting that CAR initially adopted Bitcoin but later reversed its decision due to some external pressure from global Financial Institutions like International Monetary Fund (IMF), who discourage adoption of Bitcoin and other crypto currencies. In future adoption of Bitcoin and other cryptocurrencies will depend on many factors, such as regulatory developments, public acceptance and addressing the issues related to its security concerns. https://coinmarketcap.com/legal-tender-countries/ |
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Like in cryptosystem where we deal with invisible assets, most sellers are not sincere and most buyers are not genuine, the feeling who will send first has corrupt original intention of what should be. Eg I want to buy bitcoin worth $3000, I got a trader who is will to sell and he or she said send me your money first and I will like no! I don't know you in person, we meet online! You send BTC to me first through wallet eadrefgdvbgjjhhbcjvnhhbbvgnc. Here our trust has been collapse looking for how sincerity will come again becomes a barrier.
You have opened discussion on a very important topic that revolves around trust, integrity and ethical conduct as fundamental elements for achieving success in the world of business . It is necessary for dealer/trader to fulfill his commitment whether he is dealing kind of trading activities he is conducting including Bitcoin or other crypto currencies. In the world of crypto currencies, trust can be significant issue, as this is relatively new but rapidly growing industry, and due to inherent anonymity of transactions can be challenging when it comes to trust and verification. |
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Laying off workers, reducing salaries and reducing unnecessary spending on sectors in companies are all measures to enhance profits to obtain more financing or loans, which has become more difficult due to the Federal Reserve’s policies that raised the interest rate and thus greater pressure on companies to achieve higher profits with fewer expenses.
it is true that things are a little bad, but the hope is that the economy will improve in the coming years. Therefore, companies may sacrifice a little profits to maintain distinguished employees or those who are difficult to replace, and then the jobs that can be replaced or quick replacements for them. companies that can change their production plans and strategy will quickly stand and will be ones that are less affected.
You have touched upon essential strategies that generally companies employ during the period of economic uncertainties to sustain profitability, especially when dealing with relatively high interest rates. However, I think they should not cut their spending and continue investing on research and development (R &D). Reducing spending on R&D can hinder a company's ability to innovate, develop new products to remain competitive in the market and for long term growth and success of their business. |
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When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.
Absolutely correct, it is essential to develop comprehensive understanding about Bitcoin, its historical price trends and patterns on longer timeframes like weekly or even monthly intervals, before venturing into Bitcoin investment. It can exhibit extreme volatility on occasions and newcomers can get disheartened by substantial price drops, sometimes to the extent of 80% or even more during the bear market cycle that can last for years. Exercising patience and emotional control during such bearish phases is crucial for securing remarkable profits in the long run. |
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Most people on the street generally should know their budget well enough to know if they are able to buy $10 per week with bitcoin.. and if they do not have $10 to get started, then maybe they better get their shit together and get $10 to buy their first bitcoin.. and just get the fuck started, and yeah, maybe such people start in a way that is very small and non-threatening to their budget and their psychology... and so maybe it takes several weeks before starting to become more comfortable with what it is that they are investing into, but if you do not have time to study bitcoin, then at least you do the basics in terms of getting started right away, and then when you do have time, then you can look into studying bitcoin some more and tweak the BTC accumulation plan..
and another thing, everyone is responsible for their own choices regarding whether or not to buy bitcoin and if so how much to buy and how to go about it... so if some people are not comfortable enough to figure out how to buy bitcoin then those would be the first things to figure out and once they figure it out, then execute.. and just like OP said, getting started makes it much more concrete to be paying attention regarding learning and removes bitcoin from the theoretical and into the practical.. .. and if you fuck up by buying $10 of bitcoin, don't come crying to me.. and also if you fuck up by not buying $10 right away, then at some point down the road, I will tell you, "I told you so."
Your strong and unwavering encouragement for the general public to make some savings even just $10 for investment in Bitcoin underscores your firm belief in Bitcoin's potential to positively impact the financial future of these individuals. I am also one of those who follow your investment guidance, taking full responsibility of this choice. I am fully aware that results of these decision are most likely to yield significant profits in the long term, but it is equally possible that outcome to go in a different direction. |
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I am delighted to witness how young people are getting involved with Bitcoin at such an early age. This trend also reflects growing interest in adoption of digital currencies, and serves as testament that how technology is reshaping our financial system. It also underscores the importance of financial literacy and education for growing children for their future well being. However, it is also important for children to understand the risks involved with crypto currencies and digital assets.
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The subject of national debt is very interesting topic of discussion among prominent economists, reflecting different viewpoints and opinions. The complexity arises from challenging choices that governments make between allocating resources towards ongoing infrastructure development projects, funded by their revenues or start reducing their national debt. The leading economies of the world like USA and Japan often prefer to continue with their national debt as due to lower interest rates in these counties the cost of servicing debt is low, therefore it makes financial sense to continue borrowing rather than paying off their debt.
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