It's a good strat that I may have used unknowingly in the past, but for stuff that are needed to be paid on specific due dates, it won't work well as you said. If I were to advise people (with debts like that) on what what strat is best for them, I'd say it's the abstinence method. Basically, you stop any form of unnecessary expenses, tally up how much you've been spending over those stuff, and be hit with the realization that you spend this much over stuff you don't need. Once that sets in, stop all of those at once, and immediately pay off your debt, with those that are set on due dates being the highest priority so as to not incur interest charges. If that's not gonna cut it for you, I suggest you take up another debt, build up a surefire business (online selling of gadgets and tech services for mobile phones, or essentials like food and baby goods) and use the profits to pay off all your debts. This is a little riskier than what I have listed prior but this will not only stop you from taking debt if the business took off, but will also enlighten you in the world of entrepreneurship and would set yourself for financial freedom later down the line. |
|
|
|
|
I could support it if not for the fact that regular currencies are not as volatile as bitcoin is. Supposed to say it did become a global reserve currency for some reason, and some whales out there had a power trip to dump the price of bitcoin for some reason, cause we're all degens like that. The repercussions are going to be astronomical especially if it became the currency that the UN and all international governing bodies are to use. Charities will go unfunded, millions of people losing financial support through these institutions, and of course utter economic collapse will come forth.
It's no different with the US currency but at the very least we can safely assume that no green back chaser out there's got nigh-omnipotence over the USD's value, and the government can intervene if profiteering is involved. The same couldn't be said for bitcoin, as it doesn't have that safety net that most fiat has which is government backing.
|
|
|
|
|
We’re undergoing massive economic troubles that could very well flip the whole economy over, royally-fucking us and everyone with liquid assets in ???their bank, so I don’t really advise bank investments right now or any other form of stock except if you’re looking to short trade as a lot of them are just downright red nowadays, and banks are on the verge of collapse no thanks to their own greed. Bitcoin seems to be the most plausible solution/option hut if you’re looking for fast profits you might wanna redirect your gaze elsewhere. As of the moment there’s no concrete reason for bitcoin to increase in value and so it’s sitting nicely on its 27k bench waiting for the bull run or a better reason to increase value at least sustainably.
Have you tried looking into gold, silver, and other precious metals? How about real estate? The latter might be in a tough spot right now but these are all time great ventures if you don’t know where to invest
|
|
|
|
It is surprising that people still fall for cloud mining scams. I thought everyone knew by now that it is a bad idea.
When I first began my crypto journey, I naively believed that it could be a wise investment. However, after extensive research and reading numerous threads on this forum, I came to the conclusion that cloud mining is far from profitable for the average user, to say the least. I have come to the conclusion that most cloud mining companies are scams. They use clever marketing tactics and try to lure new investors into their scheme. The main reason why they do this is because they want your money, plain and simple.
Most of them are newbies, a lot of them are those who think they can cheat the system by not financing a personal miner and thinking they can pull a fast one by using “cloud miners” which is just stupid for the veterans. I’m gonna be honest way back then, during my early years in the crypto world I’ve stumbled upon a bunch of tjem in pursuit of greater profits in this industry. Cloud mining is profitable if you don’t expect high gains. You can’t have your cake and eat it too basically. So for people who are okay with getting paid peanuts over cloud mining platforms that’s fine and dandy, but without a miner, you’re definitely not gonna earn anythibg significant. |
|
|
|
|
"oh wow, my repurposed mining rig that's not even dedicated for mining and pooled from mining pools on the market isn't performing as well as a dedicated ASIC bitcoin miner, how could I have been so blind!"
This is how you guys sound like every time the realization hits that ASIC miners are made for a reason and all your miners are just pale imitations of said ASIC miner. Of course it would perform well, of course it would beat you in hash power, of course it's going to yield more money for less the cost when it comes to electricity. All these things are taken into account into creating a pretty solid bitcoin miner, I don't think this needs to be emphasized anymore. But I digress, just cause every other miners pale in comparison to ASIC, doesn't mean they are already obsolete, they still could really push for profit, just don't expect staggering amounts,
|
|
|
|
|
Money is power, thus you'd understand that these people with money will always be vying for power the very chance they get. Only thing is that you'd have to be able to know when to stop and when to push through, seems like this guy is onto something, or he's just belligerent enough to think that losing the election once isn't indicative of something. Money doesn't breed pride, it just inflates it. People have inherent pride in them from the moment they grew consciousness in this planet and money just elevates that pride to a whole new level.
I could also say that since there's a threshold to how much money will make you happy, and once you've reached that threshold earning more money wouldn't make you happier anymore I can see these people chasing that high, which then leads them to feats that are so stupid all for the love of money.
|
|
|
|
|
Not really that integral if you’ll ask me. Technical Analysis to me is more of glorified predictions and less a surefire way to reap profits in trading. It basically just helps you create better predictions than not having it, and in the world of cryptocurrency industry where everything is as degen as it gets it doesn’t really hold that much weight cause every bloke with a bag of money could just buy and bloat a coin’s value like it’s nobody’s business. As with what happened to $PEPE. In my opinion, your sights should be set on other disciplines in the trading world like timing your buys and sells, diversifying your portfolio with coins that hold long-term relevance, as well as other IRL disciplines like self-control and avoiding FOMO. That’s where the real money is at.
|
|
|
|
|
There's a misconception here. Just because the price of gas fees increases, doesn't necessarily mean that bitcoin's price will increase too. Let's just take the Ordinals debacle last month, where bitcoin's transaction fees skyrocketed while the price of a bitcoin remained relatively similar. There's a variation, but bitcoin is the one that really decides whether a transaction fees would rise, not the other way around. And there are other reasons why transaction fees increase too, just like what I said about the Ordinals, it could increase due to high volume of transactions brought about by network congestions, among others (I forgot the other reasons lmao), this I think is a little token of gratitude we pay for these miners who helped bitcoin. If you want to time out your buys and sells that's fine too. But I've never heard of a scenario where a guy lost all of his bitcoins over a transaction fee, not unless your bitcoin's are dirt low in amount that is.
|
|
|
|
I don't know how I make decisions as a boy.
My father is a military man. He has served in this military sector for 25 years. His term of service is almost at an end. After two months he was going to retire from the job. He will get retirement pension after his service life in the military sector and he has many plans based on this retirement pension.
His first dream is to build a house with this retirement money. But right now in my country all the materials needed to build a house are very expensive so building a house right now can't be a good decision. And I don't feel safe keeping his pension money in the bank because earlier there was inflation in my country where some banks went bankrupt.
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.
Investing your pop's money is a good thing, but I won't really recommend bitcoin considering the flak it's been receiving these past few months, or maybe you can but you'll have to suffer through tons of rejections and stern reprimands from your father, especially since this is his money you're talking about. If in any case he doesn't agree with investing it over to bitcoin, let him know he can invest it on something else, perhaps gold, silver, even some stocks and bonds but those are a little more riskier in my opinion since the economy's a little down nowadays and there's little money to be made in that industry. All in all, your father has a plethora of choices he could choose from, just need ample research so you know what you guys are doing, and of course the cajones to boot since this is going to be a very crucial investment. |
|
|
|
|
Well, about to be in a recession, but is staunched by a lot of stuff including the recent increase in the US debt ceiling which is something that is highly needed in order to fend off the impending recession. But thus far, it must be noted that almost all efforts made by the country is all just band-aid resolutions meant to stop the inflation for the meantime, and until two years from now increase in debt ceiling will definitely work its charm but after that, we might have to face the music.
This recession's been a long time coming with US belligerently misusing its funds during the height of the COVID pandemic, plus other stuff that's been bugging them for the last 10 years. All of this contributed to an already hard to counter situation, and it's only time that will tell if the US will be able to really fend this off for good, or a recession is to come.
|
|
|
|
Since ChatGPT was launched in November last year, this AI technology has created a huge response across the globe. This technology has gained so much popularity that people are using this technology in almost every field. Any math can be easily solved through this technology, any unknown matter can be easily known through this technology, so there is a lot of doubt in everyone's mind about this technology that this technology will destroy the job market or not?
When asked about this, OpenAI CEO Sam Altman said the technology will never destroy the job market. Rather, this technology will solve things that people never know about. Since all tasks can be solved easily through this technology, this bot system may be used instead of humans in various work fields.
If this technology is used in the workplace, many people will lose their jobs.
Yes and No. The thing is, the release of ChatGPT, especially a better version of it will definitely leave us white-collar workers jobless and in lack of a better venture, cause if one company's doing it, you bet your sweet bippy a lot of them will, this will cascade from chatGPT to full-blown use of AI for everything, including blue-collar work, though this will definitely take a long-ass time. Sounds bad, is definitely bad, and we'll have to make do of the situation. But the good thing about this is, if AI worked well in our favor and it did replace every job that it could cover, the government, and every authority around the world would be forced to implement a universal basic income, cause without jobs we won't get paid, and with all these jobs taken over by AI we'll all starve if the government doesn't intervene. What does this mean for us? Well a lot actually. It'll mean everything, from people actually doing shit they really love for once, to crimes, poverty, hunger, and other nasty things we've been tussling over for centuries finally becoming a thing of the past. |
|
|
|
Looks like they reached an agreement. They are extending the limit for another 2 years and some budget caps for 2 years. They also saved $50B somehow which is a joke since they are trillions in debt. This is proof that this debt will one day spiral out of control.
Bitcoin spiked on the news which is odd since we expected the opposite to happen. US would default and everybody would flock to Bitcoin as a hedge. But instead it rallied when the debt limit was raised.
Awesome news. Still, this is merely putting a band-aid resolution over a problem that is already decades due. If the US doesn't do something smart in that 2 year-span things will definitely spiral out of control as you said and well, once the dam is broken a cascade of problems, courtesy of the recession will definitely come forth. In any case, I guess it's just enough to celebrate lmao. We're not out of the clear yet but at least we're not due for suffering. As for bitcoin, it's really hard to pinpoint what's up with it, it came to a point where I stopped correlating current events and news with the price of bitcoin cause for me, it's gonna rise if it wants to rise and it will fall if it wants to dump in value. |
|
|
|
What's this? A little fuck you to US? That wouldn't sit well with the rest of the world! "I want to put my fingers in a socket, but I don't think it's fair to get electrocuted!"
That's basically what SA's asking for with this amazing maneuver. They wanted to help terrorism and the invasion of territories but do not want to suffer the consequences of their actions when shit hits the fan. Of course the South Africans who are once again got nothing to do with this situation are going to suffer the brunt of the work from various NATO colonies as per usual. Although I don't think an outfront attack will happen cause that's basically asking for war. In any case, South Africa is definitely going to be in a massive problem once the dust settles, this basically outs them as someone who confides with the Putin and their crooked beliefs but whatever, let's just see how things pan out. |
|
|
|
The logic of life is that you can't earn more than you know,
Any amount you are earning today is 80% as a limit of what you know.
The richest man on earth is earning whatever amount he is earning due to the advantage of what he knows or can do.
So, before you can move from earning $100 dollar monthly to $1000 per month,
One of the major thing you must scale up is your knowledge.
So ask yourself, what should I know that can make me ×2 my monthly income?
Seek knowledge always.
That is particularly flawed cause that takes into account the idea that "you have to be knowledgeable and hardworking in order to make it out of the poverty line" which is just wrong. All of this is coincidental. People that are dumber than us are getting millions of dollars while they sleep while the rest of us are working for them 9-5 on a poorly-conditioned factory with no bathroom breaks for "maximum efficiency". Are you saying that abuse of human rights come with the knowledge to succeed? It's not all about what you can do and what you know, it's also a matter of how open are the opportunities for you. Most of the time, especially for third-world countries, opportunities never come in a lifetime. So are they supposed to be smarter to be successful? What if the circumstance doesn't allow you to? |
|
|
|
First of all I am the only person in my area who has a basic understanding of Bitcoin. That is, in the region where I live, no one but me knows about Bitcoin.
The maximum number of friends I hang out with are unemployed. They are not uneducated they are all well educated in their respective positions but due to lack of adequate facilities they are unable to find any employment. When we walk together I talk to them about Bitcoin but they tell me that they have only heard about Bitcoin on various social media and they think that if anyone is involved in Bitcoin, the administration of our country will arrest them. Because it is through this kind of news that they are aware of Bitcoin. But when I tell them that I have a rough understanding of Bitcoin. Then they don't want to believe me when I tell them all about bitcoin they believe me. And I assure them if we all get involved in Bitcoin maybe our unemployment will go away. Because there are enough ways to earn money with Bitcoin.
Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?
Hope you guys can give me proper feedback on this and help me move forward in helping them.
First off, if they are thinking that way you might wanna check if they are indeed saying the truth. We can't really be too complacent with recommending bitcoin to people who don't know it yet cause they have justified reservations for not choosing bitcoin. In this case, since they're scared shitless of getting incarcerated, I think it's best that you check first if there are laws or ordinances that are in place within your country illegalizing bitcoin and cryptocurrency in general. Telling them to invest is a much better idea than narrowing it down to bitcoin, let them discover it themselves. |
|
|
|
But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.
You can have a million dollars and lost it in some hours to trading. You have to be disciplined and do not let emotion control you. Learn the basics and do not use more than the amount of money that you can afford to lose to trade. Use lesser amount less to start. It is true that some people gain from trading but you have to learn and you will first lose and later you will become better to know if you have to continue to trade or not. Do not use high amount of money to trade, avoid that. I think those are already given. He's learned about bitcoin and all the benefits it could give you and all that kind of stuff. Not saying your advice is wrong, but I'm saying that at this point he's looking for technical advice that will help him with his trading journey. It's just a little redundant at this point and especially unhelpful. Next time focus on providing what they need right then and there and not beat around the bush. Anywho, these forum threads could help you greatly when it comes to trading. Use them wisely You can also look at this helpful video on Youtube if these stuff aren't on your speed, this vid's one big compilation of all the fundamentals that you need to start on your crypto journey. Good luck OP! The Ultimate Cryptocurrency Trading Course for Beginners |
|
|
|
2mins 20s read.
I really feel that some bitcoin investment advices are obsolete and shouldn't be given anyone again or atleast they should be rephrased to fit the current status and position of bitcoin in today's society.
I will highlight some of the advices and the reasons they should be modified.
1. Invest in Bitcoin with your spare money:
I can say that this advice is not necessary in today's bitcoin world. This advice was only relevant like a decade ago when bitcoin was been seen with alot of skepticism. Some saw bitcoin as gambling, some saw it as a ponze scheme while others saw it as a bubble the will burst.
In today's bitcoin, we know that if you invest with your spare money you may never make any fortune from bitcoin.
2. Invest what you are able to lose;
I have a question!
Who has ever lost in bitcoin? I do not find this advice pleasant to bitcoin. Although, this is a kind of general advice for assets that are volatile. But with bitcoin having proven that it can resuscitate after crash, the advice should be rephrased as Invest what you will not be needing in the next few years. It will not be advisable to use the money meant for your childrens school fees for bitcoin. Just have an investment budget from your income that will not negative alter your living state. Then, when you invest for 3yrs to 5yrs duration, there's no how bitcoin will fail you.
Besides I have known people that put their retirement money into bitcoin
And
I have also seen people that have all their savings in bitcoin. What do you have to tell them?
3. DYOR (Do your own research):
This advice should be for altcoin investors. If I may ask, what kind of research is one, especially a newbie expected to make in bitcoin. Are they researching the road map of bitcoin or are they researching the developers behind it? The right thing is to know when to buy. Simply buy low and sell high.
These and some more are bothering me, I decided to let it out so that we will begin to appreciate bitcoin and not to continue seeing it as it was 10 years ago.
No advice is obsolete for a coin that is as volatile as bitcoin. We've experienced long bear markets and grueling drops in price that left some of us here on the verge of suicide and you're telling me that these advices aren't as relevant as they were in the past? That's just stupid man. Not everyone's as rich or as safe as you when it comes to investments, most of the time these people who're dipping their toes on bitcoin for the first time are those with a lot to lose either financially or whatever. To say that the "invest what you are able to lose" advice is not relevant anymore cause "you haven't heard of people who lost in bitcoin" is just dumb. Have heard of a lot of stories here just this past few years of people who lost so much that they are already contemplating self-harm. Be more sensitive will ya? Just cause it worked out for you doesn't mean it worked out for everyone. Read a goddamn book. |
|
|
|
|
Been looking at bitcoin since 2015, back when it was just 100 bucks. I studied it and found that it had this massive upward trend ever since it was conceptualized so I figured it would be great to invest in it or to work for bitcoin basically. So I registered on this site soon as I realized this forum exists, and from then on bitcoin has been my biggest financial weapon, that allowed me to reach financial freedom. I've known people over the internet that have been investing or observing bitcoin as early as 2010-2012, which I must say is the glory days considering how much cheaper you could buy bitcoin during those times and how massive the turnouts would be had I invested on it.
Congratulations OP, most of us here actually have been in the same boat as you, it's all about timing, but since you're still in bitcoin you'd have all the chances in the world to invest and reap profits eventually.
|
|
|
|
The government won't immediately adopt the concept of Bitcoin since it grants everyone financial freedom, whereas the government is only interested in the meager revenue it can raise through taxes.
Crude oil and gold are traditional trading goods that are still in use, but the concept of Bitcoin has eliminated the notion of gold investment for young people since they now perceive it as being safer than investing in actual assets like gold.
You could argue that. but the main reason as to why these authorities aren't keen on allowing bitcoin to wander around their territories is because they can't control it. There are no ways for the government to track, detect, and apprehend people in the bitcoin network, and this is their main argument. You can also say that they don't want bitcoin to deface and dethrone their official currency due to the sheer amount of benefits it provides over fiat. Plus you're right, not a lot of young people are that stoked about investing on gold anymore as they did in the past. I don't think it's good as gold is still one of the best investments one could make for themselves but at the same time you can't really blame them. Gold is gatekept by a lot of people, and as more people steer away from luxury like jewelries and fancy stuff, there's no surprise they'd divert their attention towards bitcoin. |
|
|
|
|
Huge if true. But with this whole forum still not entirely forgetting the hacked wallets incident, I think Jade Wallet might not receive as much praise and a couple people who have been victimized might stray away from advertised wallets for now.
Although if you wouldn't mind me asking, what makes this wallet different from the USB wallets we have nowadays, that they themselves could house as much data as you need when it comes to private keys, for a fraction of the price to boot? Would love to hear more about this once you actually get the product. This seems interesting and if Jade wallet's got no backdoors sellers could abuse to get a hold of all the buyer's crypto data just like what happened in the past, I think we should be good to go.
|
|
|
|
|
Show Posts
