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I think Mark Zuckerberg has gotten the message. Facebook was at risk of loosing out. No doubt, it is currently the leading social media platform in the world. If you come to think of it, most of the persons strongly against bitcoin and cryptocurrencies are the elderly people maybe in their 50s, 60s, 70s or 80s, who often find it difficult to adapt to changes or new technologies.
Most of the youths maybe in their early 40s and down to the teenagers of say 16yrs are not against bitcoin and cryptocurrencies. In fact, I am sure over 95% of the airdrop and bounty participants fall within this category.
Now, let's do a brief analysis of the active users of Facebook or its main target audience. You will agree with me that most of these elderly people who are against cryptos hardly use the Facebook. In fact, some of them have their teenage children access and post comments on their behalf. The true audience or active users of Facebook are the youths, who constitute over 90% of its global active users, who are no longer just contented to open their Facebook to upload pictures or view friends pictures and comments, but are now more interested in posting bounty tasks or airdrop referral links. These are still the audience whose future of Facebook depends on. If Facebook no longer meets their purpose, they would opt for other emerging social media platforms that are very much open to crypto activities. By so doing, Facebook may be out of business on the long run.
Do you agree with me on this?
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This is good, real good. If schools officially accept Bitcoin for tuition, it is a great welcome development. This means more acceptability. The Academic world is beginning to accept. They will speak more and promote it maybe at public lectures, seminars and symposia. This will also attract more investments to Bitcoin and cryptocurrencies in general. Big thumbs up to the schools who are early adopters of Bitcoin. More to follow in future.
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I believe that people lose money not because they invest money in a wrong way but they don't invest their time in a right way. I still follow the principle of investing time before investing money and understanding something deeply. I have seen newbies doing the same mistake again and again and getting the same results. Knowledge and experience definitely help to avoid many mistakes not only in crypto but every other sector out there.
Thanks for sharing your experience with us. I also believe in your principle of investing time before money. Before investing, we should always consider the timing too. Not just throwing money around all in the name of investing. Nevertheless, it is very good to invest for the future. |
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This is indeed a big great news for Bitcoin and cryptocurrency. If the Swiss is getting involved with cryptocurrency, then it means they have accepted it. If the Swiss government accepts it, there is a high possibility of most other countries also accepting it. Don't forget that Switzerland is home to many international organizations. And those organizations too may start thinking in that direction of adopting Bitcoin and Cryptos too. I see more investors coming in.
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I personally don't think it will be a good idea for every bank to has it's own digital currency. In terms of the countries having its own digital currency, I will still have my reservations too. I would rather prefer the mass adoption of Bitcoin and other cryptocurrencies. Let the government support cryptocurrency and legalized. People should be free everywhere or any part of the world to use any cryptocurrency of their choice in transactions.
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Nice lecture. Everything you have mentioned above is true and there are many people who are like that. I do not save, but I want to. The problem is everyone is in need of money. Some want to establish a business, so they have to save money, and some want to save money just for entertainment. People differ from one to another. The good thing is to save money for necessary purposes, not just save it to waste it later on on drinks or cigarettes.
Some people are also guilty of this you have said. They save money over several years, instead of utilizing it on something meaningful, they end up blowing the savings away in something that might not really worth their spending. |
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A portion of your savings can be used for reinvestment. You don't have to leave all the money you have to idle away in the bank, you can look for a profitable kind of investment to use it on so that it will have a multiplier effect. But you need to be careful about this though.
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Blockchain can actually be used to solve some of this problems like identity management. With the use of the transparent decentralized blockchain distributed ledger, it will be difficult for anyone to forge his or her identity. This can greatly help to have proper documentation or information of everyone in the world, and can also be used for security purposes to reveal the identity of anyone who may have been involved in a criminal act.
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Why give someone money at all? It's a bankers ' business. They have lost their money many times and have many ways to claim debts. Individuals do not have such opportunities. It seems to me that point one needs to be replaced by the fact that doing their business in which you have experience and do not go to someone else's territory. You will always be defenseless there. Leave loans to bankers.
Not everyone is capable enough to borrow from a bank. There are a lot of requirements needed to borrow in a bank and those who don’t have collateral are deprived of the opportunity to borrow money. The sad part is that SMEs are sometimes forced to resort to borrowing from loan sharks even when they can’t afford it because they have no choice. I know that it’s a bad idea to lend money because there’s a huge chance that it won’t be returned but you can’t help but have some pity sometimes. Yes, I understand your point about pity. Being emotional when you lend money to someone is the more reason you should not lend more money than you are willing to loose or better still, forget about. |
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For the fact that the Government have legalize this top cryptocurrencies is a good news. With time, more and more will be legalized. I also believe regulating the ICOs will be good as it will help reduce scam. I can boldly say that 98% of the scams that have happened in cryptocurrencies generally are through ICOs.
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Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.
Mistake 2: Whenever you have the opportunity to meet a wealthy or an influential person, never you ask for money, but rather ask for ideas or ways which you can grow your own business. That will make you a more purposeful person.
Mistake 3: Never you spend money you haven’t received or expecting. In other words, do not buy anything on credit because Mr. A has promised you certain money, or that Mr. B will pay you the debt he owes you. It might make you to run into debts should the source fails to pay. I hope you understand this point.
Mistake 4: For proper saving, do not attempt to save what is left after spending, but rather spend what is left after saving. Like you already know, human wants are insatiable, as long as you have the money, you will always have something to buy. Also, never you keep any money you are not going to spend on short term handy or within easy reach. It is best to keep it safe away.
Mistake 5: Do not sign as a guarantor to anyone on financial matters unless you have enough or are willing to pay any misappropriation or money that may arise from the person’s misdeed. THIS IS VERY IMPORTANT. It can cause you problems.
Mistake 6: Do not consistently spend more than you earn or spend all that you earn. You may not have anything for the rainy days or at retirement.
Mistake 7: Do not spend more money on an item you can purchase same for less within the same neighborhood. It is not a wise spending.
Mistake 8: Never you borrow money that accrues interest to start a business. That will put you undue pressure as you will be working to service the debt and the accrued interest for a long period of time. It could be frustrating especially if things are not as perfect as you would have predicted.
Mistake 9: Do not starve your family or fail to take your child to the hospital SIMPLY because you want to save the money you have for the future. It might leave you in regrets.
Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.
Which of these mistakes do you think people are guiltier of? Do you think there are other mistakes not included here? Please share your thoughts.
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Both pump and dump are very wrong to the survival and appreciation of cryptocurrencies. It makes a lot of people to loose confidence especially the new entrants into the crypto market. Most pump and dump schemes are perpetrated by those scam coins or tokens whose developers just want to use in getting money quickly and forgetting the project. The government does not necessarily have to crack down on them as it might not really be possible to identify the particular persons, it somehow depends on us to avoid such strategies.
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The Banks are indeed going to struggle to cope with the pace of things in financial activities unless they inculcate blockchain technology into their operations. Blockchain will surely be the leading technology in financial activities in future.
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I also think this too. There is a very big possibility of the whales manipulating the prices due to their high influence as they control a very large share of the coins and consequently the market.
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It won't take too long for Bitcoin to surpass every other currency and become Number one. As for me I predict this happening within the next five years before the year 2023. But let's just keep our fingers crossed anyway.
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