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Bitcoin can be useful to the youth because it can be a good investment opportunity for them specially to those who are interested in finance and technology. Bitcoin has the potential to increase it’s value in long term for potential profit. Bitcoin can give opportunity for the youth to learn more about finance, investments, economics and technology. By researching and studying crypto currencies can enhance the youths knowledge and skills that they can be useful in their future goals.
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Saving is not wasting, It means saving setting aside of money or resources that we will use in the future, which is a wise financial decision that we will make. It allows us to have a safety net in case an emergency situation arise to our lives. It would help us as well to achieve our financial goals such as investing in real property, crypto currencies and other form of investments. However we need to balance everything between saving and spending so that we cannot miss out experiences and opportunities in the present.
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Before taking risk in investing we need to be wise, Do some research and study first your target crypto currency. As we all know that high volatility of crypto market anything can happen to our investment. We will be happy we earn bug profit but if we loose it can lead to depression and stress. It is hard to accept if we are going to loose everything in investing that can affect our mental health. That is the reason why other people think of suicidal attempt which is very wrong. Do to avoid that research and study first and do not all your money in one investment.
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My question is guys which do you prefer, a steady monthly salary which you know that no matter what, it must come once the month ends or a business/ trading/ any other thing which you can do that you earn base on performance and you have the capacity to earn ten fold of what a civil servants might earn if you are good at it, but there is also a possibility that you may have a bad day in the office which you may even incurred some loss.
Which do you prefer an why.
I prefer doing both because for me steady monthly salary is the one I used in my family’s daily expenses, that steady salary is already budgeted for our food, electricity bill, water bill, internet, mobile phone charges etc. with that i have no worry about where i will get money for our daily expenses. Doing trading / investing would be my second source the money I a lot in investing is for long term goal. |
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I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?
It would take a very long time before crypto currency can replace the physical money or fiat as a primary transactions. A lot of people still do not know how to use or transact crypto currencies, proper adoption or education should be learned by all the people. The government of each and every country are the ones who can make a law and implement that. A lot of people also are afraid to use crypto currencies because they think that they will get scammed, that is because of lack of education. |
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Based on my experience having a salary base jobs limits the income it means we are only receiving the fixed income. While a commission job the income is very flexible you can earn big if you had closed big transaction, but the catch is it is not on a regular basis, there are times you do not even closed a transaction meaning you will not get anything. For me I will do both because having a regular salary you have a regular financial income that you expect every payday it would be a bonus if you had closed a transaction in a commission based job. Doing both can help you more in saving money that you can use in investing or even developing your own business.
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I wonder if higher education will help for entrepreneurship?
I am more interested in how much theory will help in this, because during a long study we do not get practice, this will be possible only when we start doing business, until that moment we will not be able to know how much it will help us.
This can help us if we need a license, but in some cases it can be obtained without a higher education.
Statistically, 95% of entrepreneurs have a bachelor's degree or higher and I wonder, for those of you who are involved in entrepreneurship, how useful was higher education for you?
Having a higher education can somehow help in entrepreneurship. But i know some businessmen that do not have Higher Education but still manage to be successful in their respective businesses. I admire them for being hardworking to achieve their success. To be a successful entrepreneur you must know how to take care of your people or employees, treat them the right way always express gratitude and appreciate their hardwork to your business because without them your business will not be successful. Always look back from where you started and keep your feet in the ground. Actually i am not an entrepreneur but I am a bachelor's degree. What i had learned during college i had not really applied in my job, i had used my actual experience that i had learned in the company. |
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Stop following crypto influencers, those of you who like using YouTube videos to pick coins and tokens to invest in you need to hear this, those crypto influencers on YouTube are getting paid to promote those projects they are chilling, why would they promise you 2x or 5x when they aren't part of the team themselves? They did this because that's how they make their own money. He who have hears let him hear.
Most of the influencers who promotes different token benefit a lot to the token they are promoting. If the influencers has many followers they could easily attract investors because their followers believes in them. If their followers invest on that particular token definitely they will get referral fees. As an investor we need to be more extra careful and do not just believe influencers. We should do our own research because it is our own capital to invest and not theirs. |
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Of course Yes I will adding up Bitcoin to my retirement savings. Bitcoin had been in the crypto market for so long now and it will continue to rise in the near future. If the continue rises most definitely the retirement fund that we hold will be more profitable in that case our retirement will be comfortable, and enough to sustain our finances during retirement. But of course before investing wait for the market to become bearish so that you can buy bitcoin at a very much cheaper price.
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Those coupons are not available here in our country. Well to cut food costs, we need to list down all the food that we needed for the whole week. Buy only the vegetables and fruits that are in season so that we can save some money. If the vegetables and fruits are in season it means that the prices are much lower. That is one method to cut food costs. Buy only foods that is enough to the needs of the family, avoid buying excess foods that will not be consumed because it will only go to waste.
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I don't know why some people in this platform are looking for what to eat at the moment, not know that they can invest in a potential projects that will put food on their table, and they will not lack what to eat and what to spend in future. I saw some message in the Bitcointalk.org where some users are trying to sell their account just to get what to eat not knowing that they can use that account to work to get a huge capital that will bring them out from poverty, and make food surplus in their home. I knew some senior members in this forum that started using member rank to work before they get to legendary to spread many investments around the country, because they didn't look for what to eat at the moment than to work hard to used their opportunities to invested in BTC before they became who they are today.
Will you invest now or you will be like that person that is looking for what to eat? It will be favourable if you can change that attitude of selling what will make you great in future just because of what will survive you at the moment. No way you will invest in BTC today and you will not have something good to eat because, investment is like a seed planted in a due season to expect something good in the future. Is it a good thing to invest or is good to continue looking for what to eat?
What do you think.
It is easy for you to say that maybe you have a lot of excess money that can sustain your needs even if you invest in your so cold potential projects. But did you evaluate the situation of each and every person? Not everyone has the capacity to invest. If a person is living in a place that needs a high standard cost of living do you think they can invest? A lot of people are struggling with their expenses even in the food they eat they would rather buy first their food rather than to go hungry and invest. You need to eat to survive. And for sure if the people have an excess savings they would invest. |
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Automating savings is truly can help us to save more. In an online banking we can set it up that every pay day a portion of our salary will go to savings. We should think that as if we had save something so that we will not be tempted to withdraw what we had saved. If we continue to do that automatic savings, in ten years time we will be surprised on how much we had saved. But if you are a risk taker you will put your automatic savings into bitcoin and other crypto currencies because of the possible profit we might get in long term.
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Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?
That is true the inflation now is really high and a lot of people with a regular job had been lay-off in their respective companies even if they had served them for a very long time. Without a regular job it is hard to cope up with the increasing cost of leaving. The best thing to do is to find a regular job plus do side lines to cope up with the financial needs of your family. If you have a capital try to put up your own business, and if your business becomes successful then time to save up and do some investments like in crypto currencies, real estates etc. |
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Losing money with a large amount according to our calculations is an annoying thing, I have also experienced losing money with a large amount in my opinion especially since I have almost no other money so I have to owe it, especially if we store assets in high risk crypto so if we don't be aware that you will be easily exposed to a scam.
That is a frustrating experience you do not even know how to win back the money you had lost. That is why we need to research and study first before we will invest. Always remember to invest only what you can afford to loose otherwise you will be bankrupt. Yes crypto is a high risk investment, so next time do not invest all of your money into crypto we never know how long it would take for us to take profit. That is true there's a lot of scam evolving in the crypto world, that's why be smart in investing. |
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Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.
That is true it is hard being a student nowadays. Most of the students are still supported by their parents, that's why it is hard for them to save money. But if you will think of other ways to find extra income that would not affect your studies then do so. You can try to find online jobs that do not requires college graduate. I think there are a lot of online jobs right now try hard to apply and who knows you might get hired for the part time online job. Just showcase your capabilities so that the employer will be impressed. With that you will be able to save some. For the savings you can generate, it is best to invest it for a long term investment. But you should choose your investment wisely. |
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Some days looks like a curse day, I wanted to keep it to myself but I felt it more reasonable to share. I involved in some business investment which initially the promise was really good after week of deal, I just back from work, I saw a call from my colleague we did the business together and I call back to hear him crying on phone. That the business we involved into is fake and the office is close, the MD has disappeared, for two minutes I was shivering with sweat because that's the highest amount I have involved business so far. Am regretting to have used in bitcoin by now I would have be on advantage with bullish price.
I have not gotten myself this days. Do you feel down when such sudden hits happens to you?
In every business opportunities we need to do a research and study first on how the company would generate income and what would be it's marketing strategy. If I am an investor and I had invested a huge amount of money i would definitely get involve with the operation of the business, I will not entrust easily my investment to secure the safety of my investment. In a business failure do not loose hope take it as a lesson and it will be your guide in your next investments. Do not feel down everyone is facing ups and down. I am sure on your next future investments you will be more extra careful and smart in choosing the right investment. |
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In some conversations that I have had with some rich people who are old, they most times always say that they invested in real estate and that was how they made some fortune. Young people understand that investing is key and paramount to securing a better future like these Old rich men did then, But the question now is what exactly to invest in for young people. Is it wise to follow in the steps of the old rich men who had investments in Real Estate, or do they completely now invest in cryptocurrency? The answer is sometimes traced to the one that offers the lowest risk and loss of capital.
The less riskier from Real Estate and cryptocurrency is Real Estate, but less risk,, less reward. The risk that come with the higher volatility of cryptocurrency makes the profit that can be gotten bigger. Will you go for less risk, or big profit?
Real Estate is less riskier compare to crypto currency. But both are profitable. If you buy a Real Estate at a lower cost and keep it for about 10 years the price of that property can go up to 500-1000% it's value. That is one good thing about properties you don't have to manage it from time to time you just need to wait till it's value increases. In crypto currency you can make a lot of profit if you had the right strategy and if you will keep it for a long time. But if you will just do the day trading i doubt if you could earn bigger. As a day trader the risk is so very high. I think it would be good to invest in both Real Estate and Crypto Currency. You just need a proper timing and enough knowledge on both investment. |
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"Is the bear market over? Hard to say, but a lot of the bad news was priced in. With a maximum drawdown of -28%, SPX discounted 85% of a typical 33% market decline and 78% of a recession bear market. I still like the 1946 counterpart-"
No one can really predict if the bear market is already over. As of today the market is in bloody red i do not know if this is the sign that the prices of crypto currency will drastically declined. It is hard to analyze the market. I think the whales has the big contribution in manipulating the prices of the market. They have the power the buy more then dumping it. That could result to fluctuation of the market. If the bear market will continue i would just hold my portfolio for a long time and would keep investing on a cost averaging method. |
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To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Everyone of us needs to work to make a living. A regular job now a days is not sufficient to sustain our family's daily needs because of global economic crisis the goods prices surge up that affects our daily budget. Not only the goods but also the tuition fees of the kids, medical needs etc. That is why it is necessary to have a business and other sidelines to cover up our daily needs. Lucky enough if you could still save some for investments even if the budget is too tight. We need to work double time so that our family's could live a comfortable life. |
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"Can I take a loan to invest in bitcoin" this question was asked by a friend
My reply to her is this:
It is generally not advisable to take out a loan to purchase Bitcoin or any other cryptocurrency. Cryptocurrency markets are highly volatile and the value of a particular coin can fluctuate greatly in a short period of time. This means that the value of the coin you purchase with a loan could drop, making it difficult to repay the loan. It is important to do your own research and make sure you understand the risks before investing in any financial product, including Bitcoin.
What is your advice?
Yes it is not advisable to get a loan just to invest in bitcoin. That loan would just be a burden to your friend, because there is a lot of what if, what if his investment fall down? How can he repay his loan? Just advice your friend that making an investment in crypto currency should not be done in form of loan. Investing in crypto currency is investing what you can afford to loose. There are people who applied for a loan and invested in crypto currency and ended up loosing. |
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