I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.
Do you also find yourself spending more on you payday?, or you approach your expenses differently?
I don't think they always have something that they don't need. If you are saying this only because they were buying luxurious things then it is normal for most people to act like this when they get their salary. People do this because of their lack of financial knowledge or because they don't care to change their financial status. Sometimes people bring something that only brings liabilities but they still want to buy it because they want comfort in their lives. I usually try to manage my monthly expenses in such a way that i have some money left at the end of the month to invest in stocks or crypto. Most of the time the amount is very small so I use three or four months of savings to buy an asset. |
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when the rich say 'ill give 95% of my billion away over my lifetime' they do not mean if they have $1b today they will be at $50m at death. what they actually mean is:
they have $1b in a bank account at 6% interest
meaning it earns $60m a year.
they give just $50m yearly interest away for the next 19 years ... (totalling the $950m pledge)
yet keeping the $1b lump plus earning $10m of personal spending per year
also the % interest is usually more than 6% but they only give 5% to meet their humanitarian/altruistic hustle pledge
enjoy that thought next time the rich try to make it sound like they are going to give up their wealth for humanity.. because reality is they are not.
I didn't think about it this way. If rich people are actually doing this it's still a great help for people who need it. 50 million can be a small amount compared to 1 billion for that person but how many rich people would have done something like that? What most of them do is spread business and give motivational speeches on podcasts and tv shows. By the way, what is the percentage of people who have wealth greater than this and want to donate from its interest? I guess not so many and to be honest i didn't heard any billionaires say something like this before. I know they donate a percent of their wealth to charitable organizations, but all of them don't want to publicize it. |
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Entering the world of Bitcoin trading can be both exciting and daunting, especially for newcomers. The volatile nature of cryptocurrency markets and the plethora of information available can sometimes overwhelm new traders.
Todays question i would share how we overcame these hurdles and gain confidence to trade as a Newbie?.
A newbie always looks for ways to do successful trade but they need to understand that you need to learn how to manage your risk first. Your gains from 10 trades can be lost with one single bad trade. To overcome these hurdles you need to first build a money management strategy that you can use for trading. Your strategy won't be perfect at first but it will be developed over time You need to have at least a money management strategy that will give you confidence that your losses can climb up to a certain percent. Your balance will not go down to zero if you follow your money management strategy. |
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Up until now I have been just buying and patiently waiting for the bull run but in the last week I have seen 2 altcoins I was interested in pump up 40% in less than 24 hours so want to try make some money and give trading a go.
What is the best site for this in the UK?
I am only going to start with $200 roughly to see what I can turn it into over the next few weeks and months as the market is starting to get very volatile so could be good opportunity to make some extra money which would then mean I can invest more into my long term plays.
Use any exchange that has most of the volume and trading pairs. If you are planning to use an exchange from the UK then kraken can be a good exchange for you as it has a trading pair with EUR. Binance can also be used as it has most of the tokens listed on the market. About those 2 altcoins you have seen pumping 40% in 24 hours is normal in this current situation. We are currently in a mini altseason and many projects have already pumped multiple times and are still pumping. Don't be fooled by seeing this price surge as all these will make a correction more than it pumped over night if BTC falls towards 20k. At first understand the nature of the crypto market before you risk your hard earned money by trading crypto. |
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Copy trading can be profitable but you need to understand that someone else will be in charge of your funds so it can go both ways. According to my understanding, I prefer to determine whether the person I want to copy is aware of what he is doing. It can be done by watching his YouTube videos or by directly talking with him. This will give me more confidence that the person i am copying for trade is a knowledgeable one in this sector so if anything goes wrong i was just unlucky and that person is not to blame. It is not possible for any trader to have a 100% successful trade.
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Dlyou pay for signals? And how much ?
What's your monthly expenses for trading signals? Yearly?
I don't pay but i read alot people pay for signals so how good results If this ?
The customers of all these signal groups are mostly new traders who fear taking entry with their own judgment. They think a signal group can help them generate profits for them but they don't think if someone is that good at trading then he needs to sell his signal in a private community. He has already made millions of dollars with his highly valued analysis. All these groups are a form of scam as their owners charge dollars for monthly subscriptions and use small altcoins that can be moved by a small community. When they post a signal in their community it pumps for few hours and they show that as evidence of their successful trade. |
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I don't think he cares about creating an empire. The only thing that matters to him is profit. Also keep in mind that he is also the CEO of spaceX which is another big foothold for him that helped him secure the loan. What are your thoughts on this? Is Musk about to lose it all?
From all this year what i have learned about Mask is that he is a cunning businessman. He knows how to turn the table and he likes to do that publicly. The loan default you are talking about can backfire on him but the initiative he took can take twitter to a place that no other social media can reach. His idea of creating Twitter or X as a financial hub of the world can give him control over a large community. This will also boost that platform's financial revenue stream. The cut in unnecessary expenses on twitter was a warning to other employees that if you are not competitive enough, you can be fired. |
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I have always known that life is not easy, I work hard every day to make sure that it becomes easy not only for me but for my children.
If only working hard makes a man successful then a day laborer would have been the wealthiest person. You need to work hard but without knowledge you will not be able to amplify your true potential by using your abilities. Knowledge can help you identify the right path and take smart initiative to get things done in a unique way that an average person cannot. That's why we don't see multiple elon Masks and Bill gates at the same time. Their knowledge opened their eyes to opportunities and led them to success. |
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Actually it gives people motivation to think about what they will do if they get something in the future. If i am not mistaken a survey says most people have this tendency to imagine a scenario that doesn't happen in their life or has a very small chance of happening. This sort of imaginary thinking makes us visionary and motivates us to make strategies to achieve that goal in our lives. Success or failure is a different part but imagine something and take action to get it that makes a human productive in their life. It gives us purpose in our life to live on which we follow the rest of our lives.
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It's because of the partial reserve system that the banking sector uses which helps them generate money from thin air. If a bank gets 100 USD from a user it can keep 10 as a reserve and use 90 to give a loan. The actual figure for this money distribution is backed by $100, but the total amount of money owned by the bank is 190 dollars. So their total wealth increased to 190 dollars, which is backed by only 100 dollars and 90 dollars they just generated by using the partial reserve system. All the banks in the world follow this system.
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7B is the amount of funds FTX manages to gather to compensate their customer but the actual number of funds that are claimed by customers is way higher than this. It is not only FTX but also Alameda that owns those sol which have a long token unlock schedule. It will be a gradual unlock of events and the real valuation can be higher than 6B as the OP says at the end if SOL manages to perform better than it is right now. It's recent pump shows it still has a community that is holding their bag even after all these comedy FTX and SOL had.
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It can be if you stop looking at your portfolio frequently. Some of us have this bad habit of checking our wallets a few times a day. We are emotional being so when we see that our portfolio is few thousand dollars down or up we take action immediately out of fear or greed. If i am planning to hold a project for a few years then i don't care what happens to the market or the project. I will keep doing the work i am doing and let the portfolio grow. If the price is falling towards zero then let it be because i have confidence in the project and even if the price goes down like crazy for sometimes it will revert back if my analysis of the project was right.
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Then that bottle of perfume is not for you. I want to try cavier but its price is out of my budget so i look for something that can give me the same happiness as eating cavier at an affordable price. Another important thing we should keep in mind is that there isn't any limit to expensiveness. A product can be double its actual value if it is served in a premium way so if that perfume is available somewhere within your budget, you can use it without paying for the extra value added because of some premium service.
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India is the new leader of the global south .... And a replacement for China ? China has recently started to openly surrender its position. both politically and economically. politics is not the place to discuss, but the economy leaves much to be desired. Although it is partly a consequence of politics  ) When and why is China surrendering its position? China is the most influential actor in Southeast Asia. Even in the Indian market there are lots of chinease products that don't have any alternatives that are produced in India. In politices indias influence demolishes over Maldeaves. Bangladeshi people don't like india due to their involvement in internal politics there. India has its own internal political crisis and we saw that recent manipur clash. China is in better position than india in politically and economically in every sector. |
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Foreign reserves are the foreign currencies reserved by the government of a nation. If the reserve is decreasing, the central bank increase the price of their local currency leading to inflation. A positivity in the value of the foreign reserves indicates good economy.
I just want to ask a question. Assuming people are buying the foreign currencies and hold it in their domiciliary account and not used in another country for buying of goods to be imported, is the foreign reserves decreasing like that? I mean if the foreign currencies is bought by the citizens of a country and hold in their bank account, and not used to buy from another country.
If the citizens are buying a holding foreign currency and holding them in their foreign currency accounts, don't contribute to the country's foreign exchange reserves. as these funds privately owned by the individuals. Foreign change reserves of the country generally represents holdings of central bank of the country. Moreover, such privately holdings are not utilized for payment of imported goods. In some counties where national currencies are not stable and consistently losing their value against US dollar, the trend of making saving in foreign currencies is growing. However, this trend can lead to further depreciation in the value of local currency against the US dollar, Euro and British pound. A foreign reserve depends on the country's trade partner. If a country is just importing and Exporting with EU countries then that country might want to hold their reserve currencies in EURO because their exports and imports are mostly with them. In this case that country doesn't need to hold any USD if they don't have a trading relationship with them. Most countries want to use USD for international trade because most of them directly or indirectly trade with USA or their trading partner country. |
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Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?
Thank you.
If you are a risk taker and love volatility then crypto is for you but if you want a less risky environment, you can do forex though higher leverage and margins can give you massive losses in those two. These two markets are a bit different in nature. Forex markets impact on news but you can be a successful forex trader only by using different indicator setups. In crypto basic indicator is useful but you need to keep in mind a lot of different things when taking your entry. A news event can prove your whole set up wrong. So it will be wise to use google to gather more information about these two sectors. I can add more points in my comments because i traded in both market but I want you to work on it so that you can value your efforts properly. |
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I started trading bitcoin when the price was around 7k if I remember correctly. I even saw the bitcoin price around the 4K level but I stopped trading bitcoin after the Luna crash. Actually I was already taking losses due to the start of the bear market and the Luna crash wiped out my full portfolio because I was doing DCA by hoping it would recover. I stopped trading after that and only held projects I liked for the long term.
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It took a while to get here due to few months of inactivity. I need 2 more to touch 200. Although i won't get anything by hitting 200 but want to keep a memory of my struggle so that it reminds me of my past to judge my improvement from this day. 
Update: Thanks to all those who helped me to come this far. The journey wasn't a linear climb but it helped me gather my experience and improve my skills a lot. |
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For comparison, may I ask how much a standard meal in your country costs for one meal? what is the standard food menu? What is the average monthly and annual income in your country? Please those who answer can use calculations in USD
With $2 you can have a full meal including drinks in my country. This is for one person and for basic food idea. If you go little bit higher like $4 you can get one of the popular meals on my continent drink included. I was referring to soft drinks not any alcohol. If you can cook your meal at home, you can cut this cost in half. I think you already got the impression that the average income isn't that high in our country. For lower-class people the monthly wage is around $150; for middle-class people, it's $250 to $300. Food prices vary in each country; proportion and price. In some countries wherein resources ain’t that of a struggle, marketable goods including food won’t be expensive. Things still have something to do with demand and supply. Since I am on a third world country, food expenses aren’t that high but the proportion of foods differ from one restaurant to another. If I were to compare food serving especially with foreign countries, no doubts that ours would be smaller. The amount we are consuming and spending on a daily basis is a reflection of a country’s economies as well including leaders of the government which are running the regulation and to prevent prices to go up dramatically. This isn't much compared to many countries but what sets the price apart from other countries is their transportation and service costs. A rice plate with meat will not be the same price if they are served in two different place where one is a fancy restaurant and the other is a road side hotel. which are running the regulation and to prevent prices to go up dramatically.
In my country it's the politicians who are making decisions to raise the price and they are also running the government. In this case regulation is useless because there isn't any implementation of the law. The law is for those who are not with the government. A really corrupt country and its officials. |
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* I remember a while ago I needed some driver SW and found that the first Google result gave me a phishing link for Nvidia services.
I was contacted to work for a group of people who will use my credit card to set up a Google advertisement and that was a very scam project. I declined to work for them after knowing it was a scam and later I saw that advert at the very first page of Google with a phishing link and cloned website. This is an obvious scam, why they will use my card to set up their own google advertisement, why not use their own. Only greedy who thinks that they will earn huge on the offer falls for this kind of scamy trick. Lucky you are able to detect scams, else you could have suffered financial losses. The invitation on telegram and other messaging apps and offering too good to be true offers are rampant. We better just ignore unsolicited messages from unknown people or account. I am not sure what kind of service OP was trying to use but this type of requirement is common for facebook and google marketing. It is much more convenient and simple to pay your marketer the whole expense of marketing, but some people don't want to do that out of fear that the marketer won't use the money to boost the product or page. In this case the owner adds his credit card to his page's payment option from which facebook deducts the money for marketing. But this can be done by the page owner so you don't need to provide your credit card details if you are the owner of that facebook page or the e-commerce site. |
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