I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?
I mean. If you still have emergency funds then might as well. That's what it's used for anyway. I would see selling of assets as a last resort especially if you're in no position to let go of these stuff, like a car or a house for example, if let's say you need those to get by and help with what's powering your finances like work or business. Use your emergency funds first before selling your assets. that's basically it. But if you still could weather the effects of inflation in your country, I'd highly suggest you wing it for the meantime. It's a little drastic to use your emergency funds for expenses when you still could manage your finances and budgeting albeit a little harder than what you're used to. If you could still stand to carry on with this current setup, withhold from spending your emergency funds or selling your assets just so you could live comfortably. If thing go sour then use emergency funds, if those dry up then sell assets. simple. |
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Buyers will be buyers no matter the price point. You have to consider that bitcoin in the past was worth less than a dollar and if you're going to look at bitcoin now at 30k, it's much more justifiable if people were to not buy from this price point, since 30k to 100k is just a mere 3x the price whilst the former is a much larger number if you'll think about it, and yet they still do, people still invest in bitcoin and buy it for reasons. It's just how the market goes and bitcoin will always receive support from people no matter the market situation or the general confidence of people in the cryptocurrency industry. You also have to take into account that beyond people who wanted a quick profit in this industry, there are those who invest in bitcoin to save the valuation of their riches, regardless of how much the price of a bitcoin is, they are still technically buying bitcoin.
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You have to consider the factors why these people aren't signed with a bank My Brother in Christ. I'm guessing that in this whole population study only a small margin of the people aren't trusting of the banks, while a larger portion of them aren't learned about the ins and outs of banking including how to set one up for themselves, and a good portion of these people have no savings or couldn't save money due to poverty or some other reason which leads them to not sign themselves with a bank. With that being said are you willing to gamble on the small amount of people who in the first place aren't even trusting of banks, and have them be aware of a cryptocurrency that in a layman's eyes is just another form of bank?
I'm not discouraging you or anything, but statistical data is moot when reality kicks in (even though statistics account for the real world).
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Four primary reasons why a country’s economy is in the shitbox and people are suffering. Agriculture, Roadways, and Education.
A country in order to be able to sustain itself must focus on agriculture to provide for the rest of the country. Better equipment, land regorms, higher salaries for farmers and protection against exploitation and all that must be imposed in order to make this sector better.
For Roadways, reducing traffic is the best way to solve this as Traffic is the main driver for delays and not to mention it consumes so much gas and oil. So better transportation system, promoting a commute-centric transpo system instead of private vehicles, and dedicated road areas for essential deliveries like food and all of this must be implemented to make this sector better.
Lastly, education. Higher quality of education yields students and lifelong learners that will jot settle for minimum wages. Plus they yield better results in corporate and are able to cover more fields of study when they grow up instead of saturating on a single sector.
So anything that could put education in a better situation could solve this issue.
Last is corruption. It’s no surprise that when you steal from the country your citizens are affected. So, imposing stricter punishments and better watch at the treasury will prove to be effective against corruption.
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Personal economy and financial capabilities, yes it does. Bitcoin’s tailored to help people that way after all. But if you’re looking at bitcoin as some sort of “economic savior” that will just one day swoop in and solve all economic struggles a country’s struggling with then I have bad news for you. Look at El Salvador, one of the countries out there who wholeheartedly accepted bitcoin and even used it in exchange for their national currency, they’re still struggling wconomically even though bitcoin’s already a part of their economic equation, why is that a thing?
Ecojomic struggles could only be avoided by solving the issues that cause them in the first place. If you look for alternatives you’re basically just admitting to neglect.
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I don't know if this is the right place to write this type of post moderator, taking about trade slaveholders, there was a program I watch when the topic was all about slave trading, and the host of the program ask a question, is slave trading a boost to economics systems??? And I was wondering if what he said was right or wrong but could it be that this thing still may be right in some countries in Africa today, that for me in my little understanding slave trading does not boost the economic system, I will say it only boost some greed politicians pocket the government can not just fold there hands and watch populace has been sold out, and still call it economic growth. But on my little search, I saw this......... By 1840, the South grew 60 percent of the world's cotton and provided some 70 percent of the cotton consumed by the British textile industry. Thus slavery paid for a substantial share amount of the capital, iron, and manufactured goods that laid the basic needs for American economic growth
But on second thought could this have helped build some country's economic growth because the market of slave trading has a lot to offer, with some small little research I got to know about the price of slaves I was sock to hear the price was mind-blowing think it was about $5,0000 that was around last year Share your thoughts........ first off. What in the actual fuck this is depraved. I mean why in the hell are we even considering the economic implications of the slave trading era. Of course they experienced a boost in it considering you don’t have to treat your workers like humans. Nowadays that shouldn’t be the case anymore nor should anyone think about using slaves for their enterprise cause we have technology on one hand to help us out with solving our issues with productivity and efficiency which is the main driver why slaves are being used in the first place, but of course because slaves are illegal and if you think the moral implications of this type of pressing issue is not that important compared to the fucking economic boost this could provide then you might wanna get yourself checked in the head bro |
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It is a mere estimation based on the notion that one block is mined every 10 minutes with a little less than 44,000 block remaining to be mined until the reward for mining a block is slashed in half again. While these are just rough estimation based on these parameters they are great enough at teling people how relatively close we are to the next halving event which is good enough so to speak, since there’s really no greater incentive to knowing when the mext halving will come down to the last hour and minute other than the fact that you’ll probably announce it on twitter or facebook lmao.
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In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.
The poor bears the brunt of the whole hierarchy. It might comes as a surprise to everyone, but the poor pays all. Let me explain how. We all know that stuff is twice as expensive if you're poor, since you'll be forced to buy products and services that aren't that great, and when they fall short and break you'd have to buy them again and again. They also are one of the biggest consumers in the market, surprisingly. Since compared to middle-class and rich people who could purchase services and products with money they could take a loan out of in the bank (which is still money generated anyway but I digress), the poor will always be forced to buy stuff with cash and facilitate monetary circulation. They also are the easiest to please out of the three since you just need to give them the basic necessities for survival and they're all set. Ever wondered why the government's not doing anything of substance to eradicate poverty? Well there's your answer. They need the poor to be there otherwise there won't be anyone to subject to these kinds of ethically inhumane practices. |
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It's just FUD in general — not necessarily because the halving is around the corner. I'm pretty sure the government could care less about the halving. The FUD recently has mostly been before the spot ETF announcements — it's a pretty safe assumption that it's been coordinated.
Yeah lmao. I won't even be surprised if they didn't know about bitcoin halving or anything about it at all. Although coincidentally FUD seems to just be strongest when the halving's afoot. Like last 2020 as we all know we got struck by the pandemic and all that, does it all mean that everything's conspiring to devalue bitcoin, discourage all of its believers, and push everyone who trusted it away from the cryptocurrency giant? I don't think so. It just happens, apparently. Just like always, whales have their own way of creating opportunities to buy Bitcoin at affordable prices. They know that their power can manipulate the market. Sacrificing a small amount of money to gain bigger returns is not a bad decision.
This may sound harsh for small traders who can only follow the market's movements. However, it all comes down to the same reason—volatility. So, there's no need to worry about the drama that unfolds.
Your argument would make complete sense if not for the fact that a lot of the "FUD" that you said was used to weaponize and use to dump bitcoin's value to open buy opportunities for whales before the halving is, well, acts of God and nature. Pandemic, Inflation, a lot of it is really stuff that you can't control or with effects on bitcoin that are only an afterthought. |
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As of June 22, bitcoin finally managed to be at > $ 30,000 [1], no one knows whether this is just a trick from the whales who want to trap us so that we think this is the right time to buy bitcoin. With reason fear of that happening, i tried to dig into the bitcoin price history data at CMC, after i got the data, i found that there was some missing data there. So, i just want to ask anyone here who has data on the monthly price of bitcoin before the first halving happened (November 28 2012), this will not only help me, but also help others to be aware and understand the current situation. After getting the data later, i will do my personal analysis and present it here too, thank you. [1] https://coinmarketcap.com/currencies/bitcoin/ I say you buy it months before it actually happens cause the closer you get to the date the higher the value of bitcoin will have been already and if you're someone who looks to maximize their profits during halving, you wanna buy bitcoin at the lowest entry point possible. Just buying bitcoin as early as 3-4 months before the halving commences is more than enough time to account for dumps that may happen, pumps that are unprecedented, and all that price-changing happenings. I personally buy bitcoins 4 months before the halving, then do DCA until the halving arrives so I could maximize as much profit there is as possible although it's not something that I'd recommend for everyone to try since it requires you to have a large investment pool. |
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I mean in a sense it’s just like trading your coins lmao. You’re still looking at an investment that woll offer you profits in the process so how is selling your property in exchange for bitcoins bad? I personally believe you have full agency over your money and anyone who tells you otherwise can eat a fat chode. If you wanted to sell a house you don’t use anymore in exchange for bitcoin then so be it. On the other hand if you wanted to buy a house your bitcoin money, rent it to a single mother of five and jack the price of your rent so high that she’d have to look for another job to get by it’s up to you too (I’m kidding don’t do this).
Basically, you do uou, the world is your oyster my guy.
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I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.
With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.
In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
Pretty sure he knows how to play his cards well and he's just saying it cause in relation to today's status bitcoin is a flourishing asset that sees use and investment across various fields. When things get sour for the cryptocurrency giant in the future, or if in any case a good bitcoin replacement that offers the same benefits just with added necessary bonus arrives he'd probably jump off the bitcoin wagon the first moment he gets and would switch over to a better venture immediately. To me what he's doing is prudent and is a testament to how people should ready for when they can't earn money anymore. It's better and all to enjoy your years but you also have to realize that you're getting old, and it will come to a point wherein you won't have the chance to earn money anymore through work, and you'd have to rely on your retirement benefits. This colleague/friend of yours knows what's up and I give him props for that. |
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You might have heard about this already but there has been statistical reports since late 2008 stating that America alone loses approximately $190 billion alone from traffic jams every year. So you bet your sweet bippy that the emergence of faster forms of transportation hastens economic turnover as well. That is why it is so important to streamline the process of commute and transportation in every developed and developing country as it will be the catalyst of progress and economic growth. Food will be delivered faster, so is materials that are needed for construction, work gets done more efficiently as everyone gets to work on time, and most importantly education and healthcare are provided in the fastest time possible without compromise.
see how much normal traffic jams hold back in terms of every day living? That's just the tip of this iceberg. There are so many things that are delayed and impeded just because traffic jams happen. Plus let me just emphasize that it's not about having faster forms of transportations, it's about streamlining the transportation system so that commuting is made easier and incentivized over the use of private vehicles that causes congestion. You can have all the lambos and the bugattis you want but if all you guys cover the road you'd still be causing traffic for the rest of us.
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I have been debating about it with couple of my colleagues whether stay on rent or buy a property.
Let's assume, you are well capable enough to buy a new property through bank loan. Your income supports the mortgage payment so banks are willing to lend you money.
What will be the best route to take? Buy the property or stay in a rented place?
The usual appreciation rate of your property value is around 10% owing to the development work that are ongoing. For rented property, your rent increases by 15% every year.
What's the better option for you and why?
Renting or buying real estate is completely situational and up to you. I've seen people fare better with buying it, some prefer just renting it out or taking on a lease instead of spending stupendous amounts of money for a house they won't stay too long for. Here's some factors that could affect whether someone would decide if he wants to invest in a property or just rent it out. First is their propensity for travelling and moving out of places. Some people live their lives in a single city and never move out, some jump from one state to another for school, job, or romance (it's true). You'd be right to assume that the first scenario will yield to the person buying a property outright, while the latter will cause the person to rent properties as it doesn't make sense to spend so much money when you're not going to stay for too long in that particular state anyway. Another would be their goals. Some people look into real estate investing and thus this leads them to buy real estate. Some just wish to have a nice place to stay in for the meantime and are not willing to spend a lot of money on the fly, this will lead them to rent instead and re-allocate their investment money to something else they see fit. |
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Let's see if the plan for the US crypto exchange is really true or not!
Do you think anyone that involved them selves with the said exchange won't undergo paying tax or for storing their assets in the exchange? There are people who are good in holding their coin in exchange for easy trade and conversion if there is any strong dip they could easily sell and wait for the next possible opportunity to buy when it's dip. Since we know the US don't do something without something being attached to it in form of pay back. I think the main reason for the price increase comes from the fact that BlackRock bought significant amounts of bitcoin over the weekend. That alone will be enough reason for bitcoin to increase in value, but the fact that it came from a private company may have discouraged a lot of people in here, especially the ones who are for decentralization and the de-corporation of public properties like bitcoin, so it sat quite nicely on the 30k mark but did not rally any higher despite the fact that it could've been a great catalyst for a continuous pump in value. As for US crypto Exchanges and the SEC, I heard news about Gary being replaced by someone else which sounds swell for bitcoin and other assets that are not particularly bound by US law and enforcement but I haven't heard of any other news besides that. Plus I don't think this news is enough to give confidence to the public since Gary or not they'll continue their assault against bitcoin. |
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Even if they come up with there own exchanges from which they could get all type of information about their customers which of course they will, even, it will be written in there policy that we do not get customer's private data. The point is, they might control those exchanges on which customer's assets are placed and they could halt any activity anytime when they get any legal restriction from SEC or CFTC.
But the result will never be the one they wants, which is to control your BTC. Because btc is not a centralized token yet exchanges are and these exchanges are only in the zone of USA, so, to access BTC outside the USA, citizen already (might) came up with different alternatives ways.
These attempts to promote BTC adoption is not because they want to divert crypto users towards centralized exchanges it's because they want to earn money too, and they do know that's how they can do it by making there own exchange and by promoting institutes to buy big amounts of BTC. Even the exchanges are not accessible for US citizen to accumulate BTC but they are doing it still, by buying the shares from Microstrategy.
It's not about getting your own exchange that gives these people control over bitcoin and cryptocurrency adjacent, it's the fact that they are slowly buying out large amounts of cryptocurrency from regular joes and exchanges that's concerning here. They basically are vying for the 51% power dynamic which will work so well with decentralized assets like bitcoin in this case. If they were to buy a significant portion of bitcoin on the market they basically have full control over its price and can very well pump and dump it however they so please. You can't be so sure about these entities not being able to control bitcoin in the future since we even have whales here who the price of bitcoin is tethered to. If they suddenly power tripped and sold their assets a significant plummet will happen and we'll be affected by it. The same could happen with these shadow people buying off large portions of bitcoin in the process. |
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I don't really like to pick favorites between the two since I've placed investments in both and they are coming up nicely (Don't wanna jinx it lmao). But they certainly cater to differing customer bases. Gold on one hand is for people who wanted a secure and consistent upstream of income that they can also use at the same time in the form of jewelry. On the other hand people who invest in bitcoin, to me are those who are more piqued by the higher chances of profit at the expense of taking huge risks in the process, which is not so bad either since most of them are able to gauge their capacity for taking risks eventually in their investment journey. People who invest in both are those who are willing to diversify and increase chances of earning profit in multiple ventures, and those who are calculated as well in their risk-taking.
Ultimately, I won't be the guy to tell you that one is better than the other, or that you should not invest in this one cause reasons, the decision lies upon the money holder.
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Yeah. We already saw what effects a recession could inflict upon the industry 3 years ago. Who’s to say the same thing, maybe even worse couldn’t happen should a recession/depression happen within this next few years? I’d argue however that even though bitcoin may very well lose a significant percentage of its current valuation should things go south and a recession happen, opportunities to bounce back will come up eventually and bitcoin will be able to recover later down the line, once again like it did during the height of the pandemic. And even if such event were not to happen, bitcoin’s value is still on a net uptrend with high propensity for massive price increases during favorable periods in the market.
So while it’s disheartening for some, it’s not the end of everything for everyone, bitcoin will remain topical and will almost always bounce back from its dump
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But what if it is an asteroid that is capable of destroying the world like what scientists researched on to have caused the extinction of dinosaurs the and capable to destroy human existence for the next era to begin?  Without Asteroid, I read about countries that are discovering gold. This is an article I found while I search just for Africa countries: Five Biggest GoldDiscoveries in Africa in 2022That is just Africa. Did you know that gold are buried in oceans which are far more than the ones on the earth surface that all are not yet discovered? No technology to mine that, at least for now. Did you also know that the earth crust contain far more than the gold on earth surface and beneath the oceans? No technology to mine that too and that will not be possible as it can deteriorate how solid the earth is. @Charles-Tim That's just spitballing at that point. OP made a pretty sound argument about the alteration of gold's supply since the current supply of gold in the planet is scarce and finite and the only logical way it could be supplanted with is through an asteroid impact. That's just stupid and a little cynical in my opinion. And yes that includes the ones that couldn't be mined due to the current limits in technology. In the discussion of immutability however OP, while gold can be made infinite virtually, supply isn't the only thing that makes it valuable. It has aesthetic properties that makes it a must-have by every one on the planet, not to mention its practical applications in technology, business, and other ventures which strays from the argument that gold isn't as great as bitcoin cause I could easily add more gold into the system of supply. |
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Slap an ATM sign on anything that remotely looks like a box with some buttons on it and I bet you robbers will come flocking for it. Funny how they don't know how bitcoin works lmao. Although just cause you can't steal bitcoin using conventional means and tactics doesn't mean you can't steal it entirely, there had been countless cases of people losing their bitcoins to thieves and some even go for large-scale especially during exchange attacks where hackers rake in millions of dollars in bitcoin in one go. So while it's safe from stupid robbers, the ones we have to look out for are those that know how things work, But with all this being said, it's still great to know that at the very least, you get mugged and whatever, if your money's on bitcoin your funds are safe no matter what. Which is really great, considering we're already transitioning from digital to virtual age. |
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