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2161  Bitcoin / Bitcoin Discussion / FTX CEO Sam Bankman Fried found guilty on: November 03, 2023, 09:05:12 PM
yesterday the jury decided. guilty on all 7 charges. with sentencing to be decided next march(28th) 2024

also the feds have another 5 or so other charges it didnt push this year, but may press charges against him before or after next march, to add extra possible time to his sentencing

hope this teaches other dodgy CEX's a large lesson

Quote
Sam Bankman-Fried, once hailed as a genius in cryptocurrency, was found guilty Thursday of all fraud counts against him, a year after his exchange, FTX, imploded and practically wiped out thousands of customers.

The verdict was reached around 7:40 p.m. ET, about four hours after the federal jury in Manhattan began deliberations.

Bankman-Fried “perpetrated one of the biggest financial frauds in American history,” Damian Williams, the U.S. attorney for the Southern District of New York, said after the verdict.

Bankman-Fried faces up to 110 years in prison. His sentencing is scheduled for March 28
2162  Economy / Economics / Re: AI will put an end to work, says Elon Musk on: November 03, 2023, 04:46:17 PM
I don't think AI can replace every job out there. Nursing for example can't be done by AI imo. How teh fuck AI can fix your pipe? Many jobs will be lost without a doubt but saying that there won't be any work is not realistic. AI can't even finish programming jobs. All we'll have is better (human) software engineers because they can save so much time now. I think people are overrating AI a bit too much. People said the same thing when kiosks invaded McD's but here we are, they still have many human employees taking orders. Kiosks only reduced the lines in these stores. Also these machines are not set and forget. There will always be some people doing their maintenance and they won't work for free too. Machines ain't as cost effective as people think it will.

imagine a machine that uses the full light spectrum on a camera to see a patients vein and uses a robotic arm that doesnt shake or slip with a 0.001mm precision to put a canular in a vein and then knows precise dosages to pump into the patient

imagine a machine that can see plumbing and and can scan the piping to know what replacement is needed and cut and fit it with robotic arms

when most programs are just a jumble of pre existing commands/functions/api's and engines with a bit of custom code to link it all together. AI can certainly do more in less time to turn code into game storyline

those McD's kiosks may look complicated. but just attach motorised wheels underneath and they can self remove themselves from public space and a replacement drives into its spot when one fails. McD's are already working on robot chefs..

did you know that all them ready meal burgers(90second microwave) are 90% cooked and packaged at a factory are not cooked and packaged by humans. McD's just has to emulate the mass production factories, but on a individual scale where they just cook til finished rather than stop at 90%.. self cleaning toilets is a thing too. as are roomba's and other floor cleaning robots

if you think that the mcD's kiosks, roomba's are hand built by humans.. you might want to look at a electronics factory. machines build those kiosks
2163  Bitcoin / Bitcoin Discussion / Re: Privacy in Bitcoin Transactions is Under Attack(?) on: November 03, 2023, 04:12:14 PM
- A compromise needs to be found, and fast.

read the regulations about how they define a money service business or mixer, then look for wats not said and create a feature/method/service that does not define itself nor advertise as a msb/mixer

Uber does not define or advertise itself as a taxicab service.. so avoids the taxi licence requirements

the answer exists.. but those crying about this are ones that want to keep THEIR mixer business being promoted. if they actually cared about privacy they would be thinking of not just one method. but many methods. they would realise promoting a mixer is a path to a dead end. so best to start afresh and create something not using the word "mixer"

..

the root of the issue is when bitcoin became deemed legally recognised currency by governments 2013+. meaning government money laws started to apply.. if bitcoin remained private property as it was 2009-2013 we would not be in the same legal jurisdiction of money controls as we are now

but because it is defined as currency we have to learn the currency laws and use them, this means finding the loopholes

mixers are not shut down just due to the developers taking commission from actual criminals in the X% of criminal activity vs x% of clean activity a mixer does.. but also just taking a commission for managing the movement of currency.. as that alone makes them an unregulated MSB even if all funds were clean
(and before idiots chime in. mixer devs are not stopped just because they are coders)

so learn the laws to learn what is not defined. and use the non-definitions to create new features, methods, services
2164  Economy / Economics / Re: why super rich pay no tax but suggest giving all their wealth away (eventually) on: November 03, 2023, 07:36:09 AM
the point is for the loan receiver to give collateral to get the cash and then ..hint hint.
Franky1, I see exactly where you're coming from and if I thought the US government wouldn't figure out what was really happening, would let it slide, or otherwise wouldn't put the ol' kaybosh on it, it'd be a friggin' excellent idea.  But when you're running a loan service and none of the borrowers are repaying you--and, most importantly, when it's a fiat<-->BTC conversion--you'd better believe it isn't going to last for long.  Not with the scrutiny crypto is under right now, and probably not even if it weren't.


when you use an CEX you relinquish your btc to get fiat
when you give yourself a 'personal loan' via some (buyer) person writing up the (swap) deal as a loan. (theres more finer details than this, im oversimplifying)
you again relinquish the BTC as collateral by purposefully defaulting to the (buyer) loaner on the day you receive the fiat.

loan vs exchange.. same end result. just treated differently for tax purposes..
your not suppose to have borrowers repay over time..

alot of people think btc=btc and dollar=dollar where all currency is fungible and treated the same.. its not
when you receive a gift/loan. no tax. but if you receive the same amount via other means its taxed differently

EG a retailer receiving fiat from customers is not paying cap gains. but corporation tax, sales tax.
an employee vs a sub-contractor receives funds under different tax codes
a treasurer of a trust/foundation receives different treatment compared to others

did you know that if you loan yourself (from your online persona) to your offline life.. your online persona can write-off the deal because you are both loaner and loanee. there wont be any conflict of anyone chasing you for repayments

many rich/elite transfer property/assets as collateral for loans. with no intent to make ongoing repayments. as long as there is no conflict between the parties to need to take it to court. there is no problem. so if you are on both sides of the deal on the paper. there is no conflict

you just have to learn the fine details to do the deal correctly

But yep, the wealthy can and do get away with tax evasion all the time.  They've had that shit mastered since the beginning of taxation, I'd imagine.
avoidance not evasion
its not so much the wealth getting away with it. its more so that average joe minimum wage income dont pay much tax to see the worth in learning these techniques.. especially if they are on some national employer pay scheme that auto deducts tax before putting it into employees account. most people think they have no choice..or think its too much of an effort

however bitcoin open up the choice
2165  Economy / Economics / Re: World Debt Clock by nations. on: November 02, 2023, 11:41:29 PM
best 30second video to show how national debt works with many nations
remember the guy in middle is told he is in debt at start. then see where the money lands at the end
https://www.youtube.com/watch?v=pENxsLVR_Xs

when you look at world debt and realise countries owe each other in a circle, it will make sense that the debt numbers are just that, numbers
2166  Economy / Economics / Re: why super rich pay no tax but suggest giving all their wealth away (eventually) on: November 02, 2023, 06:05:52 PM
so here is a tip for us bitcoiners who ask how can governments try to tax bitcoin but yet, fiat billlionaires dont get taxed
there needs to be a bitcoin service where people who want to buy bitcoin join(lets call it a credit union or loan company). but instead of "buying" they become investors/funders of loans.
so the service offers loans to bitcoiners that want to cash out. but the bitcoiner doesnt sell the coin. but instead hands the coin over to the service as collateral.

I just imagine how this will be done in a decentralize manner but can't figure it out and I hope you aren't suggesting we should use a centralized service

what im saying is.. dont limit the options or limit your education

some people who currently use CEX and want to avoid the KYC/tax man intrusion can use other services where end result is fiat in pocket after handing over assets(as cex end game is) but done so in a legally way to avoid taxes by not being an exchanger, but instead a 'loan offer"

other ways are using defi where you use decentralised services to offer your offline personal life a loan from your online persona

use all the other ways too like trusts, foundations, etc
EG the most simplest formation of a trust for bitcoin is simply multisig.. thats it

learn from the super fiat rich about all their methods of tax avoidance and 'temporary cashflow' methods
2167  Bitcoin / Bitcoin Discussion / Re: The blackRock Bitcoin ETF on: November 02, 2023, 11:43:38 AM
We have a physical spot Bitcoin etf in Canada. It went live like 2 years ago and it didn’t really have much inflows. Currently it’s something like $1B Canadian dollars. I think it had the most inflows when it went live but since then it went nowhere.

pension funds dont day trade, they buy and hoard. so there is not much daily inflow.
many funds just buy up a basket of assets and then internally hold.. then just internally swap shares between their clients who buy in-sell out of categories of assets

....
the reason many people see financial benefit to invest in ETF instead of buy bitcoin direct is this

imagine your salary is $100k (~$72k post tax income) and you want to dedicate 7.5% of your income to buy bitcoin
7.5%=$5.4k = 0.153btc at todays price (1btc=35.4k) leaving you with $66.6k spending money

now imagine your employer put your 7.5% pretax, and employer matched that into etf shares
15%=$15k = shares pegged to 0.424btc at todays price (1btc=35.4k) leaving you with $67.4k spending money

so you have more exposure to more gains and you have a lil extra in your pocket
and you just sit on that 0.424 pegged shares until you retire, instead of 0.153
2168  Bitcoin / Bitcoin Discussion / Re: mtGox Nobuaki Kobayashi on: November 02, 2023, 11:24:38 AM
even though creditors have to wait.. the lawyers/administrators can make expense claims and receive expenses instantly.. slowly cutting into whats left

if the filings are suggesting creditors only get a fiat value of X% of their losses back.. the higher btc price goes the less coin they need to sell/offer, thus the more the administrators can keep

500k bitcoin "loss" (at 2013-14 peak of $1.2k) is equivalent to just 16.6k coins at $36k
2169  Bitcoin / Bitcoin Discussion / Re: fudster guy saying bitcoin is not viable because there are too few available on: November 02, 2023, 11:14:45 AM
many people are stuck in the old fiat trade mindset that investments are made in WHOLE shares.. where they think its not viable for people to buy a whole bitcoin, due to cost and only having upto 21m of whole bitcoins...
they have yet to understand the concept that people can buy decimal amounts of an asset

even funnier part is.. technically if you look at the data of the blockchain.. there are no WHOLE bitcoins. nor decimals of btc
every reward, every transaction is measured in satoshi units on the data/protocol layer.. and then multiplied up into the basket term btc for the human visual layer of the GUI of the software

emphasis
a 50btc reward displayed on a screen is actually and has always been 5,000,000,000 units being created, shared, transfered even from 2009

the "50btc" reward is just a simplified visualisation for the softwares GUI. its not a real thing at the value/unit level of the bitcoin blockchain data/protocol

in short there will be 2,099,999,997,690,000 units ever produced before 2150~
2170  Bitcoin / Bitcoin Discussion / Re: Bitcoin scaling: Revisiting the 2015 debate on: November 02, 2023, 10:43:53 AM
1. you talked about 3rd world countries BUILD COST like they have extra expense compared to normal office use
1. People on developing country is less likely to run full node either due to lower income, higher cost to build/run full node or even both.
you are also not realising that although computers are made in asia. by the time they reach UK/US alot of profiteering and greed is added and retail prices of pc in US/UK are higher than what someone in asia/africa pay. so you assuming africans/asian pay at the lifestyle rate of us/uk is a hint that you did not think much passed the real costs developing countries actually pay for their goods. its like you gave an auto-pilot script answer without thinking beyond what you read
(a US sold pc at $600.. does not cost $600 to people in developing countries, they have cheaper options)
yep people in africa/asia are frugal. they can not only buy a pc CHEAPER than a UK/US.. but they can build one even cheaper again.

2. if people dont use something daily they wont leave app open daily. the more they use something the more chance they will leave app open, test the theory with anything.. those that only use facebook once a week dont leave app open. but those messaging daily probably will. so there is a correlation between utility vs access
look at your own browser tabs. most of them are for things you frequent more regularly. but things you only use once a month you probably dont have open

3. when you use old scripts without you thinking if they are true or not. without testing the theory. it makes me laugh that you then want to say you dont use the scripts..

yes people can think up their own reasons of pro-con of something. but if your just repeating verbatim a script that has been heard before. i will assume you read someone elses script instead of having an independent thought

i have no problems with people thinking for themselves. but its the irritation of the blind leading the blind just repeating a debunked script and re energising it into a new viral cycle of echo chambers until they all believe its true because they hear each other say it.. as if its a valid argument again.. that script is dead, dont bring it back from the dead. we are not in the windows 98/xp/vista/win 7 era .. its 2023

its the biggest problem of this forum. certain people "group think" and blind repeat something, to the point they believe it to be true because its said so much, there is a huge lack of people thinking for themselves and looking at the source/details and scrutinising it.

bitcoin was/is supposed to be about independent review, independent verification. not blind trust copying
its like the "backward compatible 'isvalid' " bypass where the same echo chamber group tell idiots that their node is still a full node even if their node is not fully validating/archiving..
they say that as long as someone at centre of network validated it and then streamed the data out its trustable and still decentralised because in their mind as long as users are distributed, thats good enough(facepalm).. yet the point of bitcoin is/was to independently verify and archive to be full node
2171  Economy / Economics / Re: why super rich pay no tax but suggest giving all their wealth away (eventually) on: November 02, 2023, 10:25:17 AM
~snip~

so its not about putting funds into a centralised thing. its about learning tax law and using its loopholes

.. look at the clintons. they put funds into their clinton foundation(a donation to. rather than earnings from) then spend it as business expense. thus avoid taxes

the question you should all be asking is. instead of using a CEX, how can people get hold of fiat without declaring it as earnings/profits

Tax avoidance is completely legal. The problem, however, is that this is something that is not easily available to ordinary folks. The rich have all the high-caliber accountants and lawyers to make sure their evasion only appears as a simple case of avoidance. Not to mention that the law has always been lenient to the rich and powerful. It has always been generous and tolerant to the elites. As a matter of fact, tax laws, policies, and regulations are always tailored for them.

it is "available" you just have to KNOW how

education is the issue. and when we are cashing out when bitcoin spikes. we too will suddenly see the benefit of learning and accessing this knowledge when the tax expense becomes more than the tax free allowance. where its suddenly worth learning this stuff.

this is where tax accountants and lawyers can offer services.. not just for tax. but for trusts/foundations.. and loans
some people may even want to use their own energy to learn for themselves to avoid needing to pay accountants/lawyers

for those thinking its not worth it. are usually those playing with small amount of sats, where any gains are still within a tax free allowance.. but those that are concerned about tax will be concerned to minimise their tax expense
2172  Economy / Economics / Re: why super rich pay no tax but suggest giving all their wealth away (eventually) on: November 02, 2023, 08:55:04 AM
Isn't this kind of service already available to Bitcoin owners? If I'm not mistaken, there are already crypto banks or crypto lending platforms which offer loans to Bitcoin owners if they are willing to send them as collateral.

Yeah well, if you had read six comments back you would have seen that it is:

So franky1 has now realised a strategy that Saylor has made popular ad nauseam, and people are wondering how to get those bitcon loans when all you have to do is search the internet:

https://tokentax.co/blog/best-crypto-loans

That's even happening in this forum. But the problem with marrying this kind of traditional financial service to Bitcoin being a new technology is that it somehow betrays the spirit of Bitcoin. Your Bitcoin isn't anymore under your control and the platform from which you borrow money could run away with it.

I think along similar lines.

I only see sense in it if you are going to use a small part of your holdings, as you lose the power of control with your private keys.

Yeah, you got cash, but only around 25% to 50% of your Bitcoin's worth? Isn't this what happened to BlockFi?

I think it's 50% maximum that's why I think you have to do it only with a small part of your holdings so if you get a margin call you can give more as collateral.

I would say in order to do that you need a centralized authority to make it happen, and that is what we dislike in the crypto world. You need that credit union or loan company, and they would have all the power and there is no need for that.

ok people.. look deeper into how the rich do it

did you know the rich give themselves a personal loan
yep thats right they loan money to themselves(no central authority)

many politicians have revealed it
one example in the UK
https://www.theguardian.com/politics/2021/dec/22/jacob-rees-mogg-cleared-of-wrongdoing-over-6m-in-cheap-loans
Quote
The office of the commissioner, Kathryn Stone, began an investigation at the start of this month into claims Rees-Mogg had breached rules for MPs connected to the declaration of employment and earnings.

The Tory MP for North East Somerset received director’s loans totalling £6m between 2018 and 2020 from Saliston, which he owns and was a director of until 2019.

Accounts for Saliston show the loans – £2.94m in 2018, £2.3m the following year and £701,513 in 2019-20 – attracted interest paid at the equivalent of about 0.8%, which was below the market rate.

Rees-Mogg argued that the loans were used mainly as “temporary cashflow measures” to pay for a property purchase and refurbishment, and did not need to be declared because they were an entirely personal matter, with no outside interests accrued.

The commissioner’s report into the matter, released on Wednesday, notes that at the time of the loans, Rees-Mogg was the sole owner of Saliston: “As a result, it is my decision that these loans were connected solely to your private and personal life.

he bought a house, furnished it. but did not pay tax, nor did he have to declare it as earnings

so its not about putting funds into a centralised thing. its about learning tax law and using its loopholes

.. look at the clintons. they put funds into their clinton foundation(a donation to. rather than earnings from) then spend it as business expense. thus avoid taxes

the question you should all be asking is. instead of using a CEX, how can people get hold of fiat without declaring it as earnings/profits
2173  Bitcoin / Bitcoin Discussion / Re: Another ETF's Ticker got Listed on DTCC on: November 01, 2023, 02:46:35 PM
though not a sign of actual sec acceptance. the entire speculative market are seeing that serious candidates are interested in/trying to get bitcoin exposure and its not a simple currency for nerds and technofans. (many novice investors thought its just for computer nerds)

adding more institutions to the list of possible lineup of an accepted application makes the chance of ANY ETF happening more promising

so there is more confidence of an(y) ETF happening no matter who manages it
2174  Bitcoin / Bitcoin Discussion / Re: What will be the feature of Bitcoin? on: November 01, 2023, 01:38:18 PM
there will be subnetworks for niche uses. but the current ones the devs and their sponsors/PR plebs promote are not fit for purpose. so we will see some innovation of other subnetworks that are more secure, less buggy, less bottleneck issues and just better in many ways, in the future

that said bitcoin devs needs to actually care about bitcoin again and be responsible for looking for LEAN ways to transact to allow more transactions per block. AND extend the blocks to allow even more transactions..  they need to move away from the "let any junk occur" model and actually make bitcoin do its main job again and do it efficiently to gain maximum use case of BITCOIN utility not junk utility.

2175  Bitcoin / Bitcoin Discussion / Re: Bitcoin scaling: Revisiting the 2015 debate on: November 01, 2023, 12:53:04 PM
1. I do not treat on-chain scaling (increasing maximum block size) as danger.
2. I don't exaggerate it since i never said it's major or serious concern. I only mentioned it as one of concern which people usually don't pay attention.

EG YOU said.. developing countries have HIGHER BUILD COSTS

usually people interested in technology already have a pc.. its not like they need to "build" a high spec gaming machine..
standard pc is fine

please stop using silly outdated scripts pretending that africa/india has dial-up internet or dont have pc access... fact is they have fibre/5g internet that is better then most 1st world countries
i know media show africa as the mud-hut scenes of people walking 10 miles for water... but those people dont even want to use youtube
if you actually look at Ethiopia in 2023 you will see cities.

..
did you know for people that want to daily transact on bitcoin would need to pay $2 a day(1-2tx a day) meaning $730 a year
yet they can get a desktop pc for under $400 that lasts 4 years = under $100 a year

if your concern was costs.. you would PAY ATTENTION that its the fee war that ends up costing a bitcoiner the most

if there were more transactions allowed per block each user pays less in fees.

mos african/indian people i speak to are concerned and annoyed by the fee's and lack of transaction count. not the price of their desktop computer

1. I've mentioned why i say higher build cost on earlier reply, https://bitcointalk.org/index.php?topic=5471530.msg63076871#msg63076871.
2. Yes, standard PC is fine to run full node. But on earlier reply i also mention it might challenging to run full node and other task at same time, https://bitcointalk.org/index.php?topic=5471530.msg63076871#msg63076871.
3. I never mention any specific country or technology in order to use internet.
4. I'm aware Bitcoin TX fee is high for people in certain parts of the world. That's why i'm in favor of increasing block size while pay attention to various factor (even small ones).

you are still stuck in the DEBUNKED theory of needing to BUILD a super computer to multitask
you still think the cost of a PC that lasts more than 4 years is more of a concern compared to tx fee..

instead of reading and repeating other peoples scripts. try some maths out for yourself

the cost of a pc is not the deterrent.. the actual deterrent of running a full node is if you are not using the network daily you wont see any advantage to keep node running daily. (logic: if you dont play a games console each day, you dont have a games console on 24/7)

so all these gimmick solutions of offramping users to another network which time locks people into one month thus not wanting/needing to check the blockchain for a whole month because they are using some litwallet channel manager host means people wont want to be full nodes.
(i truly laugh at people who promote the subnetworks acting like users are experiencing all the features of bitcoin)

however if fee's were reasonable onchain and people used it daily, more people would be full nodes just because of that, (still not caring about their PC cost)
and again if you think that while running a full node means people cant stream movies or do normal work tasks on their standard pc then you have been listening to the wrong script writers

every time i hear them scripts it makes me feel like they are users of windows 98 based computers.. dont they even know the core devs have said that bitcoin system requirements are not recommending 98,me,xp,vista. so a standard 2023 windows 11 base price pc is fine for next many years. even a few year old windows 8-10 is fine.. so dont use scripts that sound like your Pc is windows XP(decades old).. because the options is not XP vs super computer custum build).. the actual option is current standard pc most people buy standard spec every 3-5 years. (not every 2nd decade)
2176  Bitcoin / Bitcoin Discussion / Re: The blackRock Bitcoin ETF on: November 01, 2023, 05:13:34 AM
employers offering pension plans can only take employees salary PRE-TAX to invest in regulated investments..
so an employer CANT just take their employees pre-tax pension contribution/allowance to buy bitcoin direct.

however they can invest in nasdaq.. so if a ETF is approved, its on nasdaq, meaning people can invest their pension contributions into the ETF

and a bitcoin spot ETF is the only legit method to invest into something that shadows the bitcoin price, which is why there is a big push for big portfolio investment institutions to become an offering of BTC spot ETF, because the pensions industry is a multi trillion industry ready to have bitcoin price exposure as a possible investment
2177  Bitcoin / Bitcoin Discussion / Re: Should I, we, run a bitcoin node? on: November 01, 2023, 02:42:38 AM
How much BTC is needed to run a lightning node?  Is that BTC tied up with the node?  Is it put at a risk?

that silly network requires you to lock funds up, predicting your spending habit of more then a month. some suggest atleast 10 payments of value as the minimum utility to be worth the effort of getting a good fee per payment vs the open close fee cost

the next thing is they say to guarantee a path to destination, depending on how big the amounts you want to move, dictates how successful a payment will be.. so you should have upto 4+ channel(accounts) meaning 4x the expected spend for that time scale if your spending big.
 
the next thing is they want you to allocate some of your funds to route other people payments. meaning you dont get to use all your funds so again you need to 2x the value of each channel if you want to offer 50% of liquidity to the routing network

many people find they on average lock up $160 of value. but only able to successfully make payments 100% attempts for values under $16 per payment
EG $16 * 10payments *1 channels= $160 (allocate 50% to other users routed payments =$320)

if you are looking to make more then $16 a payment and do more then 10 payments before closing the channel then you may need to to lock up and split up more then the multiplier of total liquidity by having more channels to ensure better success attempts when making payments.

EG 2 channels if payments are ~$75 and if doing 20 payments per open-close session
$75 * 20payments *2 channels= $3000 (allocate 50% to other users routed payments =$6000)


the silly network is not simple have funds spend funds
2178  Bitcoin / Bitcoin Discussion / Re: Is the irreversibility of Bitcoin transactions a downside for an average person? on: November 01, 2023, 02:30:23 AM
for centuries people used cash/coins. where it got physically handed over to a recipient and if you wanted it back you had to plead to the receiver with good reason

with digital bank accounts you still need to ask a bank.. *

no money has ever been independently retrievable without requesting a drawback/chargeback/clawback/refund from someone

*yes banks have got lazy and just accept any reason to clawback funds.. but thats banks problem
2179  Economy / Economics / Re: Biting more than i can chew. How can i do better? on: November 01, 2023, 12:56:38 AM
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.

now you have lived a bit of life. you can start taking notes on it.
no one should turn into a hermit and squander every penny and never spend it. but be more practical..
learn your happiness's.

think of money as a tool of life.
look back at your previous experiences and think about which experiences you paid for that actually still make you happy thinking about today that bring long term happiness without regrets

EG
did donating money to friends give you more then a days happiness, or regret now
did that nightclub life make you happy a year later having fond memories or did the thrill dissipate the next morning with the hangover

do exotic vacations give lasting memory, or going to a local sports event

hobbies?.. the list goes on. just plan one really good experience you still want to have in life

never give up on things that make you truly happy but prioritise that happy experience.
you know. the anticipation feeling of looking forward to christmas/vacation, that kids have months before the day.
ignore the short term moments that get forgotten, regretful soon after

set a goal of one vacation a year or 2 sports events a year (whatever your happy moment is, whatever it is).. break down that cost to a daily amount/monthly amount you can put aside. it becomes something to look forward to, something you can watch your account accumilate to show progress towards it, rather then avoiding doing anything this year and thinking and regretting never getting to experience anything again..

again dont plan on going sporting events each week or nightclubs each friday night or vacations each month. make it a 1-2 times a year thing to build up excitement, anticipation and doing it within your budget. EG if it is nightclubs. plan it for your birthday or special event.. rather than weekly

once you realise you can still plan to enjoy your money on life experience. then budget your income
this may be cutting down on non essentials. buying cheaper brands. and even downsizing your housing costs

put some money aside not just for the anticipated experience but also as a rainy-day fund incase one month you have no income at all
make these money put aside payments as automated deductions from your spending account.

next is where to store that put aside money.
some invest in the stockmarket, some invest in bitcoin.

for the anticipated events this year just keep in a second account. for the long term rainy day fund invest

think of things you want to do this year(experiences) and allot the budget for that as just explained
think of things you want to do in next 5-10 years (house/family) and allot the budget for that and invest it
think of things you want to do for retirement and allot the budget for that and invest it

think smart with your money
EG do you really need to spend £$## a month on netflix or gym.. or can you use other streaming sites to watch movies for free and use a local park for free fitness
im not saying give up on fitness or movies but can you find money savvi ways around your daily life thats cheaper or free

all those little monthly spend amounts add up. so be frugal on the petty stuff and dedicate your money into the positive directions you want to experience

then when setting up automated payments to split your money into those pots of savings. and cutting out the dead wood of wasteful spending, then concentrate on finding new clients and expand your income
2180  Bitcoin / Bitcoin Discussion / Re: Bitcoin ETFs and the 401(k) Dilemma on: October 31, 2023, 07:24:09 PM
this is what most people view:

choices:
a. $275k salary. $173k take home pay(post tax).. using 20% to buy 1btc leaving $139k spare for lifestyle

b. $275k salary putting 7.5%($20k) employer matches 7.5%(20k) purchase $40k of etf shares equivalent to 1.17btc pegged value
    and leaving 163k takehome to spend on lifestyle    

so would you prefer (forget the security and benefits of hoarding actual bitcoin) financially to have shares that peg 1.17btc price but you get to spend $163k of your salary.
or
have just 1btc of actual bitcoin but only $139k to spend of your actual salary

and this dilemma is why many people see a benefit of ETF instead of hoarding actual bitcoin
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