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341  Economy / Economics / Re: Is there a formula for Bitcoin starters? on: October 22, 2023, 01:55:31 PM
I say the easiest way to invest in bitcoin is to actually allocate money to investing, instead of just investing what would be left of your monthly pay if you're employed. The thing is that most of us here are living paycheck to paycheck, and by the end of the month, we wouldn't have anything left for ourselves no matter what we do. Allocating money for investing and saving money beforehand ensures that whatever happens your investments is taken care of since you already kept funds for it prepared.

If you can't invest really, because you're in abject poverty and every dime counts, I say you find a better job first, and then from there work towards allocating money for investing. If there's a will, there's a way as the old adage goes.
342  Bitcoin / Bitcoin Discussion / Re: My first Bitcoin on: October 21, 2023, 09:22:13 PM
I managed to earn my first whole bitcoin from signature campaigns and through selling game skins/currencies. I vividly remembered that day like I was so successful — but I immediately realized that I needed more.

As for my sources for bitcoin: the signature campaign I joined, and small online businesses(not directly BTC, but I can use the fiat to buy BTC).
That was a long time ago lol. I don't see anyone ever offering bitcoin or any cryptocurrency for that matter anymore in exchange for in-game cosmetic. Even tried back then to sell some of my CS skins for bitcoin (I'd send it to them through gifting) but all that I got were people being skeptical about the validity of my offer lol. I started similarly from everyone else in this forum. Saw a bitcoin ad back when I was still big on League of Legends and from then on I found my way through this forum, eventually I got lucky enough to gather enough merit and join signature campaigns which have been the primary source of income for me when I was still a starving high-school student. It was all fun and it's a little nostalgic looking back in the days.
343  Economy / Economics / Re: Isreal and Palestine war and losing your wallet phrase and password on: October 21, 2023, 09:08:25 PM
If you lose those you can't gain them back anymore. It's just that simple.

Some wallet providers will give you access as long as you can provide verification that it was indeed you, but I won't hold on to that hope cause those are usually only reserved for hot wallet providers and all that stuff. Your best bet is always going to be cold wallets with portability options like Trezor, these wallets are very easy to carry and can even be used as a keychain if you so please. Giving you the benefit of being able to carry it with you wherever you go.

Besides, survival is going to be your first priority when you're in the middle of warring states, money can be earned back provided that you stay alive, if you die, you can't get anything back.
344  Economy / Economics / Re: Nigerian naira hits record black market low of 1,100 per dollar on: October 21, 2023, 08:46:30 PM
A bleak situation for Nigerians indeed. If things presses on we might see another Zimbabwean Dollar in the making (which I hope doesn't happen) since Naira doesn't really have a good reason to rise or recover in value anytime soon. It's not like they are profiting from all the resources that they have for one (which I really hope they take action upon cause for Pete's sake it was theirs and they are pretty much letting anyone with a fat pocket take it away from them), and they are basically the e-waste central of the African Continent.

I've witnessed some of the smartest people I know of come from Nigeria, it shouldn't be hard for the government to realize how massively amazing the Nigerians are. It's sad they're throwing all of this away in favor of their personal gains.
345  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin for everyone? on: October 21, 2023, 06:34:39 PM
I wouldn't exactly say it IS for everyone, but out of all the cryptocurrencies there are in the market, Bitcoin has been the most consistent in providing people with profits. This has nothing to do with how much you're gaining by the way, but just over the fact that bitcoin has been very generous in giving people consistent yields over the years it's starting to look like bitcoin is for everyone. In any case, if I were to recommend investing in bitcoin to someone who's just learned about crypto a little while ago and is now eager to test the waters, bitcoin will be the safest recommendation, and I think everyone will back me up when I say it's because it's the safest option out there compared to let's say, ethereum, or maybe even XRP.
346  Economy / Economics / Re: Binance's Growing Legal Troubles: Are They Facing a Crisis? on: October 19, 2023, 11:56:19 PM
Saw coffeezilla's take on this and I might just have some second thoughts on the credibility of Binance, not just Binance USA. It's a little scary how they're taking shots for someone that barely makes any presence in the crypto industry (Justin Sun who is a fucking nutjob and the sketchiest person in the crypto world right now). Whatever that may be I'm thinking they have collusions and this might mean despair for everyone and binance in particular. After seeing this I shit you not I took all of my assets from Binance and redistributed them to my other hot wallets. To think that I even stood by them when CEXs are getting fingerbanged in this forum no thanks to SBF. In any case, investigation is still necessary, I think we'll find our answers sooner or later.
347  Economy / Economics / Re: Will people ever get tired of trading bitcoin? on: October 19, 2023, 11:25:17 PM
As long as there's money to be made, people will not get tired of trading bitcoin, or any cryptocurrency for that matter. "Why would you get tired of making money anyway?" is what they will be asking you when you tell them that stuff lol.

Bitcoin's too beneficial to drop even in place of some other asset out there that you can trade. There's the benefit that compared to other assets or stores of value, with bitcoin the results are often quick-acting. You don't have to wait for a whole while just to see and reap the benefits that you sowed. Furthermore, due to its volatile nature you're basically earning a lot of stuff from investing in bitcoin, let alone trading it. These reasons alone are good enough for anyone to just keep trading bitcoin regardless of whether they are tired or not. 
348  Economy / Economics / Re: Is the fall of Elon Musk's empire imminent? on: October 19, 2023, 10:49:47 PM
Good. If that happens then Twitter might have a fighting chance at another revival.

Elon-hating aside though, I don't think he's going to lose his empire per se. He's too big to fail now, and as long as his stepping down on both these companies doesn't force him to lose all of his equities and shares in these companies I'm positive he's still going to live comfortably. The bad bet he made on Twitter is already taking its course and he's making the people that's not even responsible for it pay. Imagine having to pay for a "once-free social media application, that's just what he's making you do now with Twitter. Tesla isn't doing any better with all these allegations and backlash targeted at the safety features of his vehicles and the viability of autopilot. So yeah things are going to suck for him from here on out if he doesn't do anything.
349  Bitcoin / Bitcoin Discussion / Re: "Lump sum Vs DCA" for Bitcoin Accumulation on: October 19, 2023, 10:14:05 PM
For me, setting up a lump sum investment in the crypto industry is reserved only for those who have the discipline to save money that would be allocated for crypto, and besides that it's going to take a long-ass time before you can even hope of ever investing in crypto if you're going for the lump sum route. On the other hand DCA is for everyone, due to the fact that it goes for consistency rather than the amount of money that you're willing to put to stake, you're guaranteed to always have a position in place for crypto regardless of what happens.

That's why I always advocate for DCA no matter what type of investor you are. Having the confidence that you always have bitcoin investments ready for taking gives you indispensable peace of mind.
350  Bitcoin / Bitcoin Discussion / Re: I was ripped off on: October 19, 2023, 09:54:56 PM
As much as we want to help you or have that amount of money be returned to you (that's still more or less around 1500 bucks for Pete's sake) we can't really do much, nor can you. Bitcoin's decentralized so there's no governing body that would assist you when it comes to stuff like this. So you're pretty much paying your first expensive lesson in the crypto world and hopefully this opens your eyes to the dangers of belligerent crypto usage.

If you still have the wallet or the transaction ID I think you can report it to Electrum's devs and have them ban that user's account but that wouldn't guarantee that your funds will be returned to you. Let this be a lesson that whenever you're playing with crypto, that items you're buying with crypto should be given to you first before sending payments, if both hesitate to that setup, meetups are the way to go.
351  Economy / Economics / Re: Dangers of combining company and personal funds in the same account on: October 18, 2023, 09:46:53 PM
I think it's common knowledge to not mix your funds with your company's regardless if you're a board member, a treasurer, or even the founder of the whole enterprise. That counts for embezzlement right? So it's a criminal offense subject to the long-arm of the law. Would you really risk that? Besides, it's not as if this will save you from paying taxes either, one way or another you'll have to pay for them and this is especially true for founders who have separate tax profiles with their businesses.

Just stick to what's legal man especially if you're just a startup making a name for yourself. The last thing you would want right now is a hamper to your success and criminal liability will do just that if you're not careful and law-abiding.
352  Other / Off-topic / Re: Do you find yourself doing unnecessary purchases when there is plenty.. on: October 18, 2023, 09:09:50 PM
Yes. I experienced this when I was earning so much money too, I found that there's no limit to how much I spend but when the budget caught up I was faced with a harsh truth. I think learning about budgeting allowed me to actually leave the month with a surplus rather than ending the month with no money until the next paycheck comes. Once I started budgeting and tempering myself with discipline I started seeing differences in how I much I can earn and save, I'm a frugal person at heart and the country that I live in is not that expensive by the dollar, so I was able to save a lot of money after getting that massive reality check in the face.
353  Bitcoin / Bitcoin Discussion / Re: Bitcoin gift to wife. on: October 18, 2023, 08:26:29 PM
My girlfriend has been really receptive about bitcoin and crypto. She heard about the idea even before we met but never really paid attention to it since there's no need to (she was born in a pretty much well-off family), plus she's scared of making investments that would risk her money. She's eager about saving money though and I was able to convince her to try staking and yield farming cause APYs are always bigger than interest rates, which spells well for people who want to see their money grow while saving.

Most girls especially those that are really into you (like OP's wife for instance) will be receptive and accepting of whatever you tell them, especially if it's something that would benefit them in the long run. It's all a matter of just choosing the right partner and all that stuff.
354  Economy / Economics / Re: In times of war, Gold rises. What about Bitcoin? on: October 18, 2023, 07:20:41 PM
I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks. Smiley
Yup. Regular investors don't have the reason to, and so they don't trust bitcoin just yet. Gold on the other hand is so trustworthy some people would rather get paid in gold than in fiat even. As for everything else, I don't think the war had much effect on the value of Gold, although historically speaking if this carries on for longer we might see some noticeable effects (I wouldn't stick around to find out tho lol). Bitcoin's a little precarious right now as it just suffered from one of the most devastating price losses last year, and is pretty much just gaining momentum once again to proceed with the upcoming bull run. So it all makes sense for bitcoin to remain stagnant for now (it's not connected to the world economy after all), and for gold to get some gaining although barely noticeable.
355  Economy / Economics / Re: Global markets brace for fallout as Middle East tensions rise on: October 15, 2023, 11:54:54 PM
The Israeli-Hamas war has sharpened focus on rising geopolitical risks for financial markets, as investors wait to see if the conflict draws in other countries with the potential to drive up oil prices further and deal a fresh blow to the world economy.

Israel's Prime Minister Benjamin Netanyahu vowed on Sunday to "demolish Hamas" as his military prepared ground operations in Gaza to root out the militant group, whose deadly rampage through Israeli border towns stunned the nation.
Source
Lol it's as if these mofos from Israel are thinking they are in the right. They've denied Palestine the rights to lands that they should've owned as early as 2 years after the second World War and now they are playing it off as if Palestine's the one that is oppressing them. It's stupid and all funny at the same time lol.

As for oil prices, it's due time we find a new resource to use, I believe the series of wars we're getting right now are going to be an eye opener as to just flimsy this oil-based economy is in the face of an uncaring world. Could probably even usher in a new age of renewable energy, Idk, but there's bound to be something good to happen after the dust has settled.
356  Economy / Speculation / Re: Is doubling your investment more probable than we think? on: October 15, 2023, 11:37:40 PM
I mean that's the whole plan anyway. To at least double what you have through the halving. People expecting x3 or x4 in this economy are a little too optimistic especially considering that there's no real reason for bitcoin to increase in such a value. It's still sitting in a precarious spot where a simple issue could take it down to a measly 18k, and we have no good reason as of now to be happy and excited about the halving since for bitcoin to reach a new bull season we need the help of a pivotal crypto event along with the scarcity that the Bull run insinuates for it to really increase in value. So far we haven't gotten any of the two yet so there's no real reason for bitcoin to reach x3 or x4 as much as what people are expecting.
357  Other / Off-topic / Re: 10 platforms where you can earn money performing tasks on: October 15, 2023, 11:12:51 PM
Upwork is the place to be if you want to earn money consistently off of your talent. Been an upwork user for years now and I must say it has helped me propel my freelancing career. They've been a little stricter these days though and I felt like they're wringing the necks of upwork freelancers now more than ever with all these stupid verification processes but at the same time I'm still thankful for upwork's help in my career and would always recommend it to people who are looking to start their freelancing journey.

fiverr is mostly for gigs and not something you should really look forward to if you're looking for a more consistent earning potential.
358  Economy / Economics / Re: Young people needs productive mindset to be happy in life on: October 15, 2023, 10:52:25 PM
I don't want to be the grumpy old man telling kids what to do with their life or how they should think (for crying out loud I'm still 23 lol), but coming straight out of one of the most tumultuous phases of my life and just learning the ropes of being a young adult, here's what I have to say about staying positive or adapting a positive mindset in life for that matter:

  • There's no real merit nor reason why we should stay positive, there's not much to work around or be happy about, and for the most part, you'll have to be delusional (which is not necessarily a great or bad thing either) for you to remain grounded.
  • Being young comes with the angst and the pressure that the whole world is putting you against, especially when you're a young adult and you're just getting all the responsibilities in life. You want to live out your life how you dreamt it to be when you are a kid, but there are bills to pay and the fridge isn't going to fill itself, so you have to find work.
  • Business is out of the question for many, we don't have that much time in our hands between living out our life the best we can (partying, socializing, interacting with friends) and working towards the future that we want to build.
359  Economy / Economics / Re: Is the need to be known a requirement to qualify for a loan(s)? on: October 14, 2023, 11:54:44 PM
I don't think it's "fame or being renowned" that's affecting your chances to get a loan approved. in my opinion it boils down to the fact that these people are credible enough that the bank could trust them with the loan, they know that these people are well-known enough that they can basically earn a living through their fame, and if in any case they don't pay up they can just easily find where they are or who to talk to to get to them. Now, you don't need to be as famous as these people to get your loans approved. You just need to be trustworthy. For one, that could be achieved through the credit card route, have a credit card, pay it well and on time, and the bank would trust you enough to actually lend you the money that you owe. Having a good credit standing also helps, so there's that.
360  Economy / Economics / Re: Is it easy to trust someone? on: October 14, 2023, 11:33:10 PM
Well that's on you and the people you've been with if you can't trust anyone anymore. I've been with scheming and people who are not trustworthy but between them and the overwhelming amount of people that I know I can trust and count on, I'm pretty sure I'm good. Friends for the most part, family not so much but this is only in the case of business matters as none of them are that much versed in the world of entrepreneurship and they might just fuck things up. People I care most about are trustworthy and I've witnessed that from years of interaction with them, oftentimes with money involved in the equation. I feel sorry for you that you can't trust people anymore as much as most of us could, to which I say you should find new friends you can actually trust.
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