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661  Bitcoin / Bitcoin Discussion / Re: Impact of Bitcoin on: October 25, 2022, 04:25:57 AM
The invention of bitcoin has brought more people into the crypto sector, changing their daily lives. The use of virtual currencies thus offers a more secure way to transact with foreign entities or local merchants without having to worry about fraud or theft. This has offered consumers a new alternative to their usual way of making purchases, allowing them to have more control over their spending.

Future generations will definitely be smarter and will ask themselves, how is it possible to send money for free?

Yes, we are all heading into a new era in remittances. The financial crisis is more than just a global recession, it is a catalyst for change and we will all be better off for it.
662  Economy / Economics / Re: Business failure among small-scale entrepreneurs on: October 21, 2022, 08:52:49 AM
The most basic factor that triggers business failure among small entrepreneurs is their inability to understand the business environment or lack of enthusiasm for doing business.

The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.

The key to success in entrepreneurship does not entirely lie in one's business skills but also requires a positive attitude towards life and effective planning in maintaining business facilities where skills, solid market strategies, having good/creative ideas, and innovation in operating the business to keep it running.
Currently, the fierce competition in the business world is also what makes small businesses prone to failure. because of the many competitors in the business, forcing business people to always be able to innovate and adapt quickly. and business people who adapt slowly, they are usually the first to fail. so to be able to survive in business today, of course what is needed is to continue to innovate, adapt to the environment, be it market trends or the like. skill and careful planning are also definitely a must-have. and many other factors.

Yes, at present, let alone small businesses, many large businesses that have been founded and managed by entrepreneurs also have no experience in the business. This can be seen for example in the technology industry, where many tech giants are founded by people who have no technical knowledge of the topic.

One of the things I believe is critical to a successful business is a passion for the industry we are trying to explore. All of this shows how learning outside of our sector can be applied within it as an entrepreneur.
663  Economy / Economics / Re: Business failure among small-scale entrepreneurs on: October 20, 2022, 10:49:19 AM
The most basic factor that triggers business failure among small entrepreneurs is their inability to understand the business environment or lack of enthusiasm for doing business.

The main risk lies in the company's ability to survive when external pressures are applied eg location selection, insufficient capital investment, or asset appreciation. This is because small businesses are generally founded by individual businesses, for example at home or otherwise.

The key to success in entrepreneurship does not entirely lie in one's business skills but also requires a positive attitude towards life and effective planning in maintaining business facilities where skills, solid market strategies, having good/creative ideas, and innovation in operating the business to keep it running.
664  Economy / Economics / Re: MNCs and it’s impact on developing countries. on: October 20, 2022, 10:35:58 AM
Yes, Developing countries are also urged to create their own manufacturing sector in order to increase employment, increase exports and reduce dependence on aid in the future. These programs have raised the middle class and encouraged economic growth, one of which is multinational companies (MNCs).

This has a positive impact on the economy but has various disadvantages such as unemployment, environmental damage, corruption, and labor exploitation. While the goal is to create sustainable growth for developing countries, it does not address the issue of providing better quality jobs for the millions of people in these countries.

Regardless of the company, they have two options for doing business in foreign markets. One, entered through a local partner and Two, did so by establishing a subsidiary. The first method is the easiest but my favorite is the second because this way the company can understand the market better and have control over its business.
665  Economy / Economics / Re: A decision to make on: October 20, 2022, 10:24:37 AM
It is a risk vs reward situation of the decisions we make based on what utility we need. If you feel like you have a bigger vision for your future life, it's highly recommended that you start your search to buy a home and live in it. If you have enough money left over, go ahead and invest in bitcoin meaning in one for living and the other for investment.
666  Economy / Economics / Re: Corruption Should Be Taught From Young Age on: October 19, 2022, 05:26:48 PM
In many nations around the world, corruption is a serious problem. It is regarded as a weapon of mass destruction that has greatly damaged several nations' public and private sectors.
Several of the factors that contribute to corruption are listed below:

(5) Civil service wages


Globally, corruption is one of the main problems facing leaders and their governments when it comes to development. Even though money, greed, and power are spread unequally around the world.

The solution to a problem like this story in the end is money. The government should pay its workers well so that they can live comfortably and be grateful to their organization. If a country has problems with corruption, it means that the living conditions of its people are very bad. This is most evident in third-world countries where many developing countries suffer from high poverty rates and low government salaries.

The government should stop this problem by using solutions such as increasing the salaries of all civil servants, including police and judges, to control corruption effectively and instill public confidence in the system. I believe we will begin to see a decline in the most common forms of corruption.
667  Economy / Economics / Re: India launches 75 digital banking units in financial inclusion push on: October 19, 2022, 05:15:54 PM

What is relevant here is bitcoin supporters claiming a larger than 4 billion unbanked demographic in the world. Who comprise some of bitcoin's largest user and support base.


In general, I feel that digital banking is a forward-thinking trend that will continue to gain momentum over time. There are many benefits to banks offering mobile apps, and I expect more services to take advantage of online banking as we move further into the future. From the looks of it, fintech (financial technology) is already starting to have an impact on Indian financial institutions—but there is still plenty of room for growth.

The launch of these units, I think, will have other positive impacts, such as an increase in salaries for bank employees, but the public will also benefit from this move. It is hoped that this will help many poor people who may not have access to banks. In addition, these units are expected to increase access to banking facilities in rural areas such as orphanages, shelters for women and children, and tribal areas where many do not have easy access to financial institutions.
668  Bitcoin / Bitcoin Discussion / Re: Debunking the "Bitcoin is an environmental disaster" argument. on: October 19, 2022, 05:01:03 PM
The Bitcoin Mining Council Released their Latest Update:



They pushed the rhetoric of Bitcoin as a clean energy usage accelerator:
Quote

Bitcoin mining, in Q3 2022:
1. Uses an inconsequential amount of global energy (16bps) and generates negligible carbon emissions (10bps)
2. Bitcoin mining hashrate is up 73% YoY while energy usage is up 41% YoY, due to an increase in efficiency of 23%
3. Bitcoin is the industry leader in sustainability with a 59.4% sustainable energy mix
4. Bitcoin is the most secure crypto network, 100x more
powerful than all competing networks combined.


Read more here

Yes, very comprehensive, testing awareness about cryptocurrencies. The public focus is clearly on business development and investment. Addressing these challenges will require further ingenuity and innovation in increasingly constrained carbon (energy) and this is an opportunity for those in the sector.
669  Bitcoin / Bitcoin Discussion / Re: What problem does Bitcoin solve? on: October 19, 2022, 04:37:12 PM

HERE ARE SOME PROBLEMS BITCOIN SOLVE FOR THE USERS:

2) The government cannot reach up it's bum and pull because is a decentralized currency.


The government doesn't really care about BTC. In fact, they absolutely hate decentralized currencies and I tend to agree with this statement that governments will eventually crack down on Bitcoin in the future because of the simple law of supply and demand. I am looking forward to the possibilities of innovative new payment systems such as Bitcoin and other cryptocurrencies.

If you look at the Bitcoin market, for now, it is very volatile with assuming the Bitcoin price goes up and down too often and too fast. But, although Bitcoin's decline in value worries me, I'm sure it will bounce back.
670  Bitcoin / Bitcoin Discussion / Re: Bitcoin Lightning Swap App on: October 15, 2022, 04:59:38 AM
In my opinion, it all depends on what is your main reason for getting into cryptocurrency. Is it just to make an investment? Then maybe owning bitcoins might be a better idea. However, if we are interested in spending our coins, then any of these flash exchange apps can definitely be a viable option for all.

Yes. It is very interesting to discuss this flash exchange application. If you don't have much experience with bitcoin, this can be a very good opportunity to get some coins without actually buying them.
671  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Inflation and why bitcoin? on: October 15, 2022, 04:52:04 AM
Since my introduction to bitcoin, I have been interested in this subject. I think the idea of an unregulated currency is very attractive, especially as it goes against how our economy is used to running.

For me, there are two reasons why bitcoin has the potential to succeed in the future
1) because new users want to invest and use the currency;
2) because one day it will be adopted by someone or a group of people who have a lot of money.

The first reason seems more likely because I believe that if more people start using the currency, then others will want to get in on the action although I don't expect this to happen quickly, especially in current conditions it could take a few years. one thing, I feel it's possible.
672  Bitcoin / Bitcoin Discussion / Re: Google partners with Coinbase to accept crypto payments for cloud service on: October 15, 2022, 04:47:06 AM
Right, I think this is a big step for Google in accepting crypto payments. Although crypto has so far been mostly used for speculative purposes, the fact that Google is willing to accept crypto payments for cloud service is an encouraging sign that crypto may indeed be here to stay although Google will explore specific use cases in the future.

we will begin to see cryptocurrencies become an integral part of the cloud storage and processing ecosystem. This will be a boon for both crypto investors and cloud users, as a service like this will allow people to pay for their memory in a way they may never have considered before.
673  Economy / Economics / Re: What is Inflation? A Crash-Explanation on: October 14, 2022, 04:14:24 AM

tell me how you and your family is being affected by today's inflation rate!

Inflation, although not the most important economic variable in the world, is a variable that many people feel strongly about. As we go about our daily lives, we are bound to experience inflation at some point. We may deplete our paychecks so quickly because of inflation that we feel that our hard work means nothing but in most middle-class families inflation has very little effect.

I think Inflation sucks. This is a cunning thief. To fight it, we have to be really smart about finances and make sure we always keep an eye on it, especially when it's used.
674  Economy / Economics / Re: The end of cheap money reveals global debt problem on: October 14, 2022, 04:01:48 AM

Being an early adopter of bitcoin showed the world the value of getting in early. Is it possible the same trend will also apply to any economic downtrend which occurs and its recovery?

The problem is that most of us don't have enough money to live on for months or years and many people seem to think that the economy will collapse and burn at any moment now, but everything needs a process in that direction.

Yes, My view is Bitcoin is one of them, and the probability of a return could far exceed all-time highs. I know this is a tough statement for an asset class that is so new to existence and very volatile in today's times, but I believe bitcoin can be a win-win solution as well.

The real evidence comes when we start to see positive results within a few years, and financial experts can come back and say, "I told you so." And with that in mind, put yourself in a better mental state by remembering some of these recession myths.
675  Economy / Economics / Re: Agriculture HODL on: October 14, 2022, 03:40:15 AM
If food shortages and price inflation hit. Agricultural HODL could become a viable business strategy.

It is possible that there is someone in the world who will begin farming this year. Grow and sell a harvest. To produce more next year. Who will possibly become a millionaire through the process. Rising cost of oil and difficulty associated with shipping food products from overseas could all contribute to making it possible.

Anyways what do people think about this. Share your wisdom please.

I think it's still in the early stages of getting in there as preparation and investing in future commodities that will be needed by billions of people and will continue to grow in demand as the world changes more rapidly due to innovation, technology, and climate change.

The demand for also food will only increase over time as an increasing global population puts more pressure on our natural resources causing food shortages.

Weather patterns that are increasingly unpredictable in the future are not only a viable business strategy, but wise readiness to fulfill basic needs for ourselves and our families is what needs to be prioritized.

It could be that the food will be more expensive than the price of Gold or BTC itself.
676  Bitcoin / Bitcoin Discussion / Re: Will digital dollar be a threat to bitcoin? on: October 13, 2022, 04:48:09 AM
I think considering digital dollars as a complement to cryptocurrencies rather than as a challenge. Digital dollars are more traceable, more centralized, and easier to cash out by governments compared to bitcoin.

This could make it more attractive in some ways to consumers who prioritize these features. It is also possible that people will use one or both types of currency depending on their preferences, needs, and concerns.

Simply don't be too discouraged that the government will soon have its own digital dollar; this could eventually prove to be a good thing for crypto enthusiasts.
677  Bitcoin / Bitcoin Discussion / Re: The irony of leaving your private keys in a bank on: October 13, 2022, 04:36:37 AM
Does anyone use a bank safe service to leave your trezor or whatever you use in there? I have been considering which would be the ways in which one could leave physical backups somewhere else than your own home. If you don't trust anyone to do a good job in keeping the device safe, the only way I see is that you either own 2 homes, which I don't, or that you hire a service in a bank where you can leave the stuff in there. Im assuming there's good security, and no one could realistically get in there, at least in any developed country. The only way would be that an employee is dumb enough to attempt a heist from inside but that's also unlikely.

Could you explain your experience doing this and what to considering when hiring such a service?

Each financial institution may have its own rules, perhaps by requesting special permission from the relevant parties for special treatment for your bank account, for example, if you are afraid that the information will be leaked (for example, I don't want anyone except me to see my transactions). Even if we ask a third party to back it up It feels like a very risky thing to do as someone who values their financial freedom.

Yes. for some, the feeling will be different. for me personally, maybe I can say it's a bit difficult to take this risk, especially with a large amount of money.
678  Bitcoin / Bitcoin Discussion / Re: About the future of bitcoin - What are you worried about? on: October 13, 2022, 04:21:46 AM
Maybe everyone here agrees on the fact that bitcoin is so new, which means that a lot of people in the world still don't understand it.

I think Satoshi is very intelligent and has a bigger vision, which will take time to develop. To really understand what he's talking about, we must at least first understand how money works. Just as the internet needs to be understood beyond computers and browsers, money is more than just coins and cash. The bank accounts and credit cards you use are just one part of using money.

In the long term, I believe bitcoin will work to further decentralize the financial authority that currently resides in the big banks and regulatory bodies. This may mean a lot in the years to come but in the end, it will be good for everyone as long as we protect ourselves from theft along the way.

I personally would love to buy a new house with bitcoin one day!!!
679  Bitcoin / Bitcoin Discussion / Re: Biggest Mysteries Of Bitcoin on: October 12, 2022, 08:02:29 AM
Bitcoin is a revolutionary way to send or receive money. It's fast, secure, and user-friendly and is still highly valued in the world economy. What is the value of bitcoin tomorrow? No one knows, but that's its beauty and its biggest secret and in a world where we can't predict what will happen after the next 30 seconds.
680  Bitcoin / Bitcoin Discussion / Re: Why is an economic recession bearish for the market? on: October 12, 2022, 07:56:52 AM

But why do legendary investors like Michael Burry predict that we are not at the end of the bear market yet, because of a looming economic recession/depression?


The recession setbacks of 1998 & 2008 had a lot to do with the surprising decline in home values. The housing market hasn't fully recovered from that dramatic downturn, but economists are so convinced of our imminent economic crash that he's put his money in its place.

There is a strong correlation between the amount of debt the average person has and the chances of becoming a millionaire. I'm not saying this to scare or pressure anyone into selling their Assets and moving into the van. The correlation exists, but that doesn't mean that it will be true in the future. As much as people say that there is enough money with all these things combined, it is actually something completely different and there are always some obstacles that go against the same goal.

It's like we've just had a baby boomer bubble, a really big one and we really need something to replace it. Credit rating agencies will be under heavy pressure as the first credit bubble burst and created the current financial mess.
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