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161  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it good or bad idea saving every penny on crypto stable coins on: February 20, 2024, 08:52:02 AM
Sometimes I begin to imagine instead of transferring my money into the bank to keep for a number of days or months before usage in form of savings that nothing will add up instead it remains stagnant or the bank charges me even more. Is it not better I save them on a stable coin such as the USDT?

Please what do you think? Will I end up losing my funds one day if I do so?
To me I feel it's good way to save.

Please what's your opinion on this?
Are you saving for an emergency fund?

Personally, I believe a bank account is the best option due to its easy access in case of unexpected expenses. While USDT may be a stablecoin, its usability for emergencies depends on how easily it can be converted to cash in your country. In my opinion, the hassle of conversion outweighs the benefits of cryptocurrency for emergencies.

However, investing in cryptocurrency with a full understanding of the risks involved can be a good option for some people. Remember, it's always crucial to choose an investment strategy that aligns with your risk tolerance and financial goals.
162  Economy / Economics / Re: Opportunities During Economic Downturns? on: February 19, 2024, 04:37:08 AM
Are there any potential benefits that can arise from inflation, recession, or economic downturns? As they say, necessity is the mother of invention. We see an example when people in a country are  faced with very imports duty that individuals there become inspired to establish local businesses and initiate domestic production and start consuming locally as an alternative to imported goods. While this approach might prove successful in certain countries, others may encounter obstacles such as high operating costs and countless taxes on startups. This is a challenge that discourages local production. Despite these challenges, do you think there are still opportunities during economic downturns?

While opportunities during economic downturns are often limited, some can arise, often through government policies. As individuals, staying adaptable and open to diverse options can be key. This might involve accepting roles that provide financial stability, even if they don't perfectly align with personal aspirations. Alternatively, starting a business in a less volatile industry could be an option for some. Ultimately, the key lies in adjusting your approach, remaining open-minded, and actively seeking out the opportunities that best fit your circumstances.
163  Economy / Economics / Re: Has everyone become too pesimistic about the economy? on: February 19, 2024, 04:28:10 AM
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.

Yup, I've been cautiously optimistic about the economy, particularly the growing interest in cryptocurrency. While it's tempting to envision my investments skyrocketing, I understand that reality rarely aligns perfectly with our hopes. Excessive optimism can lead to disappointment, and undue pessimism can create unproductive anxiety. Therefore, I acknowledge the potential for both positive and negative outcomes, and I'm prepared for whatever the future holds
164  Economy / Economics / Re: How is it possible to say there is no money in the bank on: February 19, 2024, 04:14:08 AM
In this recent economy we have witnessed some hardships financially and many other aspects now coming to say there is no money in the bank how possible is that can you imagine saying the river has no water? We are in the new year now huge sum of money have been signed by the government for projects but in a very short time they suddenly come out to say the country is running out of funds the country needs to borrow money from other countries the money signed in your own country where are they what is the duty of the bank in your country imagine a bank giving you the maximum amount you as a the account owner can withdraw from your own account sometimes I just feel like the bank isn't a safe place any more.
Come to think of it what if someone has a very serious score to settle for example someone who has health issue and needs money urgently then you go to the bank and they tell you there is no money in the bank for now so where does the bank want people to save their money if the bank at some times can be this disappointing should we go back to the system as at the old days where you bury your money or put them in your ceiling for safety please it's no joke anymore banks should try to be reliable as to gain trust from customers because many people are not comfortable with this system

Several factors influence government decisions to choose foreign debt over domestic alternatives. Lower interest rates offered by foreign lenders, particularly for nations with strong credit ratings, can be a significant motivator. However, it's essential to remember that government borrowing abroad doesn't directly impact the availability of funds in domestic banks. Therefore, citizens shouldn't worry about personal loan access for emergencies like health issues due to government foreign debt.
165  Economy / Economics / Re: Step up your game before the game steps you down. on: February 18, 2024, 04:36:34 AM
If only we know how bad the economy is degrading globally, we would want to push ourselves to our limit and focus on that our skill or business. Taking it up to the next level. Some persons are still skeptical about the business they own, while some are waiting for the opportunities, they were promised to them by friends or relative and others are comfortable because they have rich people around them that if they place a call, they will answer them.

As the economy is getting worst it is difficult for a responsible adult to go to bed without planning on how to grow his business or how to attract new customers, not just new though but potential customers and business partners that will have big influence in his business. Time waits for no man. Yes, the life is filled with ups and down, but we won't stop trying so that we can have that impact on the existence of man just like how other nerds have done.

I wholeheartedly agree that time waits for no man, and even during economic downturns, continuous improvement in our skills and businesses is crucial. True success often arises when opportunity meets preparation, so standing out from the competition is essential. By actively honing our skills and seeking out innovative approaches, we can create a unique value proposition that sets us apart and positions us for success, regardless of the economic climate.
166  Economy / Economics / Re: AI will put an end to work, says Elon Musk on: February 18, 2024, 04:18:38 AM
During an uncommon interview conducted by UK Prime Minister Rishi Sunak, the tech billionaire Elon Musk predicted that if AI is not regulated, there will be a time when no job will be needed. This means that AI tools would take over the entire work of men making paid jobs become reductant. He even claimed that humanoid robots might be a perfect friend for one of his sons who is having difficulty in having friends. I have always believed that regardless of how sophisticated these AI tools become, they will never replace humans. But hearing this prediction for an individual who has a full understanding of the AI sector is frightening. Elon Musk owns an AI company, xAI, that is competing with big AI firms like OpenAI, Google and Anthropic.

These comments can increase the fear and anxiety workers always had that these super-computers will replace them in future. What are your thoughts regarding the statement by Elon, do you think we should take him seriously?

I respectfully disagree with the statement that AI will entirely replace human workers. While it's true that AI might automate some repetitive physical tasks, I believe it will mostly complement human workers in complex jobs. AI could act as an assistant, but it won't fully replace these positions. Instead, job responsibilities might shift as AI takes on some tasks, demanding higher-level skills and adaptation from workers. As AI becomes more prominent, it's crucial for us to continuously learn new skills and embrace change to thrive in this evolving era.
167  Economy / Economics / Re: Save money today so money would save you tomorrow. on: February 18, 2024, 04:10:25 AM
I wasn't really a saving type, but lately looking at the current situation of things in my country, how costly things have gotten, once money enters your account or wallet, you'll be suprised of how you won't be sure of how it vanished, not to talk of having a tangible reason of what you did with the money. So recently looking at how people cry for money and personally looking at how I needed money I decided to start splitting the little allowance I get, saving one part and using the other, I won’t really say that it has made me a billionaire or that I no longer lack money but at least I have cash somewhere that I could call my own and fall back to in cause of emergency.
    To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

I agree with your tips and would like to add one myself: it's crucial to track your expenses, so you can see how much you're spending, especially on things you don't truly need. By doing this, you can identify areas to cut back and boost your savings for an emergency fund.
168  Economy / Economics / Re: Marriage mean double your passive income, rental property mean double your passi on: February 17, 2024, 03:04:02 PM
Marriage mean double your passive income, rental property mean double your passive income, work hard is a myths.

Come and debate. Marriage to a spouse quickly establish to a facts that you would provide financially.

But marriage can only happens once in a life, so the gold digger is missing out so much of gain, compare to owning more than one rental property.

I would like to quote this

"First rental property would fund your travel expense
Second rental fund your sport car
Third rental fund your private jet
Fourth rental fund your yacht
Fifth rental fund your private island
... and so on"


Btw boomer get the land for free, you would have to pay for it, which also get their rental from no money down.

As long as your passive income far bigger than your expense, you are free from slavery, you are free from financial problems.

So back to topic, is marriage, notably marry rich a sound advice today? Why having multple sugar daddy seem more appealing to me, one sugar daddy one passive income, two sugar daddy two passive income, 100 sugar daddy 100 passive income, simple maths! Btw I don't want to add crypto into the mix. I don't want to make consideration because it hardly existed more than ten years while marriage and rental has existed for thousands of years.

It depends on your goals, actually. If your goal is money and marrying a wealthy person seems like the solution, you must understand the value you bring to the relationship that would make them want to marry you. It would be fortunate if you could also genuinely earn their love.

However, I believe relying on a sugar daddy or sugar mommy is neither healthy nor sustainable in the long run. While the financial benefits might seem appealing, it's unpredictable. What if your benefactor's spouse is someone you cannot afford to antagonize? Moreover, without any emotional attachment, you'll likely experience increasing heartbreak
169  Economy / Economics / Re: Economy pressure on: February 17, 2024, 02:44:14 PM
Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.
An example of this pressure am talking about is this our economy an economy where things rises everyday but no sufficient fund to back up with. Ok Imagine I bought a soup for 250 naira just after three days I went back to get the same soap I was told the soap is now #350 imagine me that have only 2k and have already scheduled how to spend it before I will expect something in the day coming this kind thing is another pressure I just dropped this one, there are many more  bigger than this one.

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.
It sounds like your income may be below the minimum wage in your country. I understand that this can be a difficult situation, and it's completely understandable to feel pressure to provide for your family. While enduring a low-paying job can be tough, there are ways to work towards improving your income. Investing time in learning new skills, like programming or freelance writing, can open up new job opportunities with higher wages. There are also online resources and training programs available that can help you develop your skills. Remember, progress takes time and dedication, so be patient with yourself and celebrate your achievements along the way.
170  Economy / Economics / Re: Is increase in minimum wage a good method to fight inflation? on: February 17, 2024, 01:41:42 PM
Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.

So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.

Increasing the minimum wage can be one strategy to address inflation, as it helps maintain purchasing power for some workers. However, individual citizens can also take steps to mitigate the impact of inflation by investing their money. Investing can potentially protect the value of your money over time, although it carries inherent risks.
171  Economy / Economics / Re: Food security might not be a priority for younger generations. (2) on: February 15, 2024, 08:06:39 AM
*Reposting this topic from my post in other forum.

There is a huge possibility of younger or new generations adopting cryptocurrency investments compared to them getting interests on farming and food related sectors. What do you think? Does it have a good or bad effects on our economy?

In my country, farming often carries the unfortunate stereotype of being a low-income, poverty-stricken job. This negative image, coupled with challenges like selling crops, dissuades many young people from considering it. The allure of technology, with its promise of comfortable workplaces and potentially quick financial gains (though not without risks), further amplifies this disconnect.

However, this lack of interest in agriculture can have serious economic consequences. Food is a fundamental human need, and its demand constantly rises. If supply dwindles due to declining farming participation, we face a potential food security crisis in the future.
172  Economy / Economics / Re: Some persons lacks financial sensibilities on: February 15, 2024, 07:36:50 AM
I don't know of the other side of the World, but in this side of the World, men are responsible for every financial responses in both marriage and the boy/girlfriends relationships.
The demands of financial expenses is being too much at the men sides.
Here, my friends girlfriend who is a university scholar that faces financial challenges is keeping my friend worried,
On the 14th Februarys which marks the "Valentines day"(lovers day) as it may imply, it is usually a special day here in this side of the World where couples and those in intimate relationships or even relatives do have it a remarkable day to spend together. It was likely a tradition that they must gift each other with what is affordable but gifted on a special offer.
The guys (men) are most expected to play this gifting role but here at this edge, my guy thought of having his girlfriend the sum of $50 cash believing she has more of financial issues to tackle than acquiring materialistic items (gifts). This is so she can utilize the money and add up to her educational fees or otherwise.
Now, she said the guy is not being caring and romantic simply because other persons to her notice are being gifted of materialistic items instead of money. She expected me to purchase her items with the gifted money.

This is just how awkward and lack of financial sensibilities some women could be who just sits, makes demands and gets what they wanted without having the compassions of how hard it is to make the money's they spends so carelessly.

You're not wrong when  giving a practical gift, but on Valentine's Day, emotions and the moment matter just as much. Especially for many women, feeling valued and cherished through thoughtful gestures is more important than practicality. Perhaps consider a gift that reflects her interests or creates a special memory together.

Furthermore, I disagree with the idea that men solely bear financial responsibility in relationships, especially in early stages like dating. A healthy partnership involves mutual support, including sharing financial burdens. Splitting bills or taking turns treating each other is a common way to demonstrate this. We should also acknowledge that many women today are financially independent and contribute equally or even more than their partners. True partnership thrives on understanding, respect, and shared effort, not outdated gender roles.
173  Economy / Economics / Re: Surviving the economy with creative thinking. on: February 15, 2024, 07:22:54 AM
It has come to a point where humans can’t just seat and watch things happen for themselves. As humans leaving in this kind of economy where things are not getting easier, we have to employ the art of creative thinking skills. It is clearly seen that to survive in today’s world. You must be creative in your thinking. The world is a global village that is changing rapidly. Humans must be innovative in their ideas and should produce different techniques. Which can be implemented in order to develop commodities and create a competitive edge.this is to say creative thinking plays a prominent role in today’s world.

I agree that creative thinking is crucial for competitiveness. It allows us to generate new, innovative ideas and solutions. However, combining it with critical thinking is even more powerful. For example, creative thinking can spark a multitude of possibilities, while critical thinking helps us discern the most effective and feasible ones. Additionally, creative thinking fosters a risk-taking spirit, and critical thinking equips us to navigate those risks wisely. This synergy allows us to approach challenges with both imagination and reason, ultimately leading to better outcomes.
174  Economy / Economics / Re: keep pleasures without incomes aside and Chase after profits on: February 12, 2024, 06:11:38 AM
I am not financially stable yet, so I am very much grateful for the appreciative increments in the Bitcoin market (bull-run) on going, I decided to cancel our marriage anniversary celebration because I insighted that there is more to gain In my continues hodling while the markets skyrockets than selling off my hodled coins just for ceremonial pleasures which can not profer me financial returns other than consuming the ones saved.
Now, my wife seized not to understand what my logical points about this are because she is not the one providing for the family.
As a woman she is, I clearly understood that they are attracted to pleasures especially on activities that attracts public attentions. These species of humans (women) fails to understand that it is money that afford those pleasury materials and activities they craves for which one has to utilize himself logically in economical situations so as to create financial balanced system before chasing after those financial consuming activities without the potentials of yielding incomes.


It's just once a year, and if you're tight on finances, celebrating your anniversary on a budget is completely understandable! After all, what matters most is the shared moment, not the amount of money spent.

Consider this: if you celebrate despite financial limitations and your wife feels loved and appreciated, wouldn't that contribute to overall happiness in your life? Her smile and contentment could motivate you to work harder towards your financial goals. While celebrating might not directly impact your finances, wouldn't it contribute to the bigger picture of "happy wife, happy life"?

Of course, this is just my perspective, and different people might have different priorities.
175  Economy / Economics / Re: Insurance is important on: February 12, 2024, 04:51:32 AM

If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".


Thank you for sharing the importance of insurance. I agree that getting health insurance is crucial, as unexpected health issues can arise at any time, and covering them financially can be difficult. However, it's essential to research insurance options carefully before committing. Some agents might prioritize sales over understanding your specific needs, and certain companies might have complex claim procedures. By researching beforehand, you'll be better equipped to choose a plan that aligns with your needs and provides a smooth claims experience when needed.
176  Economy / Economics / Re: Crisis everywhere it's time to come together and unite on: February 12, 2024, 04:27:29 AM
Times like this it's time to join and unite together
So what is the next innovative business we should do ?
Times are difficult and we feel like victims of beyrayel
I see that anyone who bring up some good idea not trusted instantly....but only way is unite together many people don't have income anymore and no money.
So who from us Will create us new currency? And we All use this currency and get some airdrop ?

I'm not quite sure what you mean. Are you proposing that we collaborate on a new, innovative business using cryptocurrency, or that we create a community to share information about a new crypto project?

It's true that good ideas don't always get instant trust, especially when money's involved. Before investing, people naturally want to thoroughly investigate and ensure the idea is feasible and has potential for profit. After all, most investors aim for financial gain, right? So, if they don't believe a business will succeed and return their investment, why would they risk their money?

This scrutiny is particularly strong in the cryptocurrency space, where scams are unfortunately prevalent. People are understandably selective and cautious due to the potential for fraud.





177  Economy / Economics / Re: What class of an investor are you? on: February 11, 2024, 03:35:34 AM
I agree that there are those types of investors who classify themselves as angel investors, venture capitalist,1 etc. But before they become all of these types of investors, from my own perspective, I have put them into some classes. It is not an exhaustive or an elaborative list but at least, you get the idea of where I am driving at.

Class of Investors to the best of my understanding

New Investor
These are friends and family members who are willing to contribute a small quantity of money to your company.

The Ponzi scheme Investor
One who invests in ponzi scams continuously is this. This is the person who thinks about get-rich-quick schemes.

The researcher investor
The researcher investor wants to conduct thorough investigation before deciding whether to invest.They might even decide against investing altogether since, if you wait to make a decision until you know everything, you might never invest.

The Wealthy Trader
This one has had a number of profitable investments over the years. They are knowledgeable, experienced, show expertise.

What class of an investor are you?



1. https://www.investsmall.co/the-different-types-of-investors-what-kind-are-you/amp/

I believe I'm the researcher investor due to the high risk involved in cryptocurrency, which makes me feel unsafe unless I thoroughly research before investing. You see, in crypto, we can lose all of our wealth in a matter of minutes. In fact, during my first month of learning about crypto, I invested in ponzi scams a few times. However, I only engaged in it for a few days at most, managing to profit from it while it was still legit.
178  Economy / Economics / Re: Agriculture vs oil on: February 11, 2024, 03:06:35 AM
We know the oil market is booming and countries with oil resources are really making a huge fund out of it and sometimes they do it at the negligence of another local natural resource.

But, of course, the agricultural sector, though not given the proper recognition and the required investment is one sector that contributes seriously to the development and dependence of most nations .

No matter how blessed a country is with oil minerals, if its agricultural sector isn't working and she has to rely on other country for her food and agricultural resources then in event of war or political differences they might suffer.

Agriculture vs oil, which is the big deal when it comes to the economic strength of a country?

If we develop technologies powered by sustainable and financially feasible alternative energy sources, agriculture could become the leading economic force. Unlike oil, which is a finite resource, agriculture offers long-term potential. With vertical farming, we can even overcome land limitations.  However, currently, oil holds significant economic sway due to its widespread use in various industries.
179  Economy / Economics / Re: In times of Crisis and uncertanities toilet paper can be new currency on: February 11, 2024, 02:51:59 AM
Yes it's very valuble it's limited source but it can be working as currency and while world is full of crisis and more need to be printed some currencies Will value like wc paper.

It's funny but let's look the good currency have value and people need this and If fiat currency becomes devalued or low value then it has Even less value than real soft toilet paper.

Imagine in your village something happens then Im sure you can use to exchange toilet paper to food becouse toilet paper have Same value as oil food or some other commodities and in times of Crisis toilet paper value it's even higher.


So i bought a lot that in my basement lol ...i can borrow this with % and set up the local exchange rate in case for Crisis Im not expecting to see Crisis but Im just telling that's good valueble Asset.

The need for toilet paper varies around the world, and in my country, there is low demand for it because we typically use water for personal hygiene. I believe a more universal system would involve using something related to basic human needs, like food and clean water, as currency. After all, humans cannot survive without these essentials, especially during crises when obtaining them becomes difficult.
180  Economy / Economics / Re: Life is cheaper with Bitcoin and cryptocurrencies in general on: February 10, 2024, 03:48:33 AM
I don't know about you guys, but for me, I have discovered that the longer one save in fiat, that is, hold fiat, the more life gets expensive, this is because fiat is known to lose value overtime for several reasons, when fiat loses value, they lose purchasing power, goods and services become more expensive, which in turn makes life more expensive.

This experience I coined from the current economic hardship my country is going through.
The naira lost significant value against some other major fiat currencies, most especially the dollar, this has made things in the country very expensive, which has also made life very expensive to live here in Nigeria.

But for those who have been saving investing, saving in bitcoin, and maybe some other major cryptocurrencies, life is cheaper as we all have seen that overtime, the price of bitcoin increases, and when this happens, major altcoins too experience the boom, thereby making good profit for those who spent fiat accumulating when the prices are low.

This is why I personally implore us all to be wise in how we choose to save our money,
Keep one million dollars in the bank for 10 years, by the time the 10 years is over, you pull out your one million and discover it can't buy much because things are no longer at the same price as they were 10 years ago.

But keep one million dollars in bitcoin for 10 years, by the end of the 10 years, one million dollars must have turned into 5 million dollars or more, and even if things have become more expensive in the market, this money will pay for it all and you will still have a lot of money left to do other things.

I completely agree with the importance of strategic savings and diversification. While inflation can erode the value of fiat currency over time, it's crucial to maintain a safety net of 3-6 months' worth of expenses in readily available liquid assets to avoid selling off investments at potentially unfavorable prices. Once this emergency fund is established, exploring investment opportunities in diverse asset classes like land, real estate, or cryptocurrencies becomes more viable. However, remember that all investments carry some degree of risk, and thorough research and understanding of each asset class are essential before committing your capital.
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