It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.
If those regulations are implemented early, the spread of its good effects on the economy will be faster. I agree that the cryprocurrencies market will be made better and safer by implementing KYC on every exchange. You are also right that due to the lack of such a law criminals are able to get into it because they are able to hide their identity. I hope they tighten up on these things so that we can enjoy the clean and good movement of every markets. |
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To be honest, I have also tried to borrow since the crisis in the country, whether offline or online. So what happened to me was that I was drowning in debt because I didn't have a job, it increased even more until I found something to earn, and I gradually paid it off with the help of my online friends, and I was able to avoid borrowing again. So for those who are planning to take out a loan, you will always think that it will be hard to work and then you will have to pay back the earnings. If what you are going to borrow is for an emergency, why not, but if it is only for personal luxury, it is better not to pursue it further. Many problems are caused by debt, that's what we remember. It hurts us forever if we can't avoid it.
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Ofcourse we will go to the most beautiful places in the world, then eat at delicious restaurants, swim at beautiful beaches with my families. I will do everything that I can be done to enjoy myself but still have control over money so that the money I earned is not wasted. Then after I'm done enjoying myself, I'll do activities to help those in need like raise the feeding program and many more.
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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?
For me, it's better to use your emergency fund, that's why it's called an emergency fund because when you need it, you can use it. Don't trade or sell the assets that you hold because they are more valuable and you will benefit from them for life. But if you are more enlightened by the financial advisor who gave advice, it is better to follow him, with the amount of experience he has, he will definitely give good advice and you will definitely improve that. However, the decision is still up to you mate. |
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Snip
Situations vary; there are some cases in which you may not have the money to buy the land at once, but you can decide to invest gradually in Bitcoin, and by the time the price of Bitcoin becomes so high, you can sell and relize enough money to buy land and even build your house. Last time I traveled to my maternal home, an old friend narrated to me how he was able to have just built a small house on his dad's land out of the profit he realized from a Bitcoin investment that a friend of his introduced him to. If someone invests in Bitcoin and earns a profit, they could still invest in land with their earned profit. There are also some situations where you can lease out your land and use the money to buy bitcoin. Doesnt which way or method you would be doing as long you could be able to accumulate funds for you to invest or simply could be able to hit up your target then that what matter the most. People wouldnt really be that be able to reach out their goals or wishes just because they dont act and do all sorts of things on which it would be giving out chances for them to at least be able to progress and changed up their lives when it comes to financial. Land properties arent that cheap.So whats the solution? Finding other source of income and trying out to compound those profits until you would really be coming into a point on which you could be able to buy on what you wanted or wished for. We could really make out some comparison on how these things do make out some appreciation in price but if ever we can be able to reach out such target then we know that there are lots of options on which we could be able to take on. You have a point there, If they can take these steps that you say, there will definitely be progress in their lives. But we know that it is not really easy, especially if the state of a person's life is very low or only has the right skills in life. Like me, I can't get him easily, but I can save up until I can buy my own land. My online earnings are set aside for my planned to buy a small land area. But if I'm lucky in life, I might be able to build a house at the same time. But for now, I'm just going to workhard because one day my efforts will pay off. |
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I agree with that, poor countries cannot afford to use this kind of financial system (cashless) because they cannot give good results because of those deficiencies. This will only work if the rich countries support the countries with deficits to extend it and make it useful.
As for getting a bank account, it's sure to be easy as long as their country supports them, even if it happens it will take centuries before it becomes successful.
The use of non-cash money is often more visible in developed countries because developed countries are able to provide better infrastructure and services as well as modern technology. And what is the duty of poor countries is to be able to get help from developed countries so that they can create more advanced infrastructure and services as other countries have done. Because the use of non-cash, as has been felt by many people, is always better because everyone doesn't have to worry about always carrying cash in their pockets when going anywhere. You are right, when the country is developed it will be easier to use non-cash systems and above all they will be able to expand it in their jurisdiction. But if there are countries willing to help poor countries to make this system work, it will surely give good results to everyone. Even if there are a few who are against using it, they will surely receive its good benefits for each other. |
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That's how it is, everything we earn in Bitcoin helps us as well as the economy of course. When we exchange Bitcoin for real money and buy household necessities, pay bills and much more.
It is undeniable what you say because Bitcoin which can be cashed into any fiat currency has become one of the assets that can help many people who have it and those who believe in it for a long time. And if you want to share the things that you feel and experience through Bitcoin to the people closest to you in life, of course they will also like Bitcoin and the effect will also be quite good because Bitcoin will get new users over time. But there are still people who don't believe even though they already know that there are benefits received from enjoying it. Almost most of those who want to learn it are those who have a positive view about technologies because they can more easily apply them in their daily work. But for natural people like me, the knowledge was small before but now it has expanded because of the effort to learn the world of cryptocurrencies. Maybe many more decades will pass before they enter such a system but for now we just keep sharing the good things about cryptocurrencies. Through taxes we help the economy and through our Bitcoin earnings we help our family. This is where we can notice that the use of Bitcoin gives us a lot of value.
Not only has a lot of value, but it can also overcome many problems that are often faced by some of its users in life. Because problems always arise when someone has no money, but someone can handle it well if he has Bitcoins that he can sell for money and get the problem solved. That is the effect of assistance that can be created through Bitcoin for its users so far besides being able to provide benefits to many users. That's true, as long as you are smart and strategic in handling bitcoin, there is sure to be good income or money that can be used when needed. It's really good to study slowly so as not to fall into losses, especially if investing. So while it's still early and the body is still able to save, just save, because the day will come when this bitcoin will rise again. |
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That's how it is, everything we earn in Bitcoin helps us as well as the economy of course. When we exchange Bitcoin for real money and buy household necessities, pay bills and much more.
Through taxes we help the economy and through our Bitcoin earnings we help our family. This is where we can notice that the use of Bitcoin gives us a lot of value.
Everyone certainly has their own opinion about Bitcoin but in general I think we don't need to doubt it anymore that it helps a lot of things, especially from an economic point of view, many people are helped because of Bitcoin and of course it's really amazing, most importantly we need to be grateful and keep working hard. You are right there, even though it brings us different things, we are better off because of the positive effects it has on us. Because of this, we will be able to expand its scope and the number of people who will enjoy using it will increase. So no matter what happens, I will continue to enjoy it and I will work even harder because I know that one day it will raise my standard of living by using it properly. |
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That's how it is, everything we earn in Bitcoin helps us as well as the economy of course. When we exchange Bitcoin for real money and buy household necessities, pay bills and much more.
Through taxes we help the economy and through our Bitcoin earnings we help our family. This is where we can notice that the use of Bitcoin gives us a lot of value.
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I don't see the possibility of totally getting rid of paper money anytime soon, it could be possible in developed countries and cities but it will be difficult in undeveloped countries and when it comes to rural areas due to the unavailability of networks and the technology in the rural areas to carry out transactions, e.g POS. In my country, Despite the CBN's cashless policy in my country, the government has failed to make POS available for businesses operating in rural areas let alone provide a network to run this transaction. Lastly, not everyone has a bank account to go cashless.
I agree with that, poor countries cannot afford to use this kind of financial system (cashless) because they cannot give good results because of those deficiencies. This will only work if the rich countries support the countries with deficits to extend it and make it useful. As for getting a bank account, it's sure to be easy as long as their country supports them, even if it happens it will take centuries before it becomes successful. |
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I would say that it is better to buy land early while its values are still low because as time goes on land values increase. But if you prefer to just make these rental houses or hotels, it is better and can give you income that you can buy land again. But if for people like us who have simple livelihoods, it is better to just make it our own home, I currently do not have my own land to buy and only borrow land to build a small house because of poverty and low education but I am trying my best to get out and buy my own land for my loved ones. Thats why i suggest you to buy a land first. It is very important for us.
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It is hard to imagine that every wrong move by every country can bring disaster to everyone. If it is true or not or if there are such illegal activities in South Africa, they can give danger in their place. We know that just talking about arms gives fear to every country so we can't blame if the other country takes steps to strengthen their jurisdiction. Its better if South Africa would be progressive for the better future of their country and its constituents.
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There are so many temptations around that attract your eyes to withdraw money. Also because of worldly luxuries we will never be able to keep our money in the wallet safe. For me it's better to just leave your extra money in your safe vault so you can't move them when you're out. It's also good that you invest only in cryptocurrencies that have the potential to rise so that you can save some income somehow.
As for your question about whether that is really a bad thing on your part so you can't stop wasting money, it can be yes or no. Yes, because you have not been able to control the distribution to those who ask for your finances. And no, because we really have obligations to do such as paying bills, food and many others.
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For me, Bitcoin is not really suitable for business purposes because of what you say, the transaction fees are high and it takes a long time to arrive. There are many other cryptocurrencies that are better than Bitcoin. It's just that they have more confidence in Bitcoin's stability and longevity.
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If you are not sure that the assets that you will enter in each exchange are safe, it is better to just put them aside. But if you know something about the research of exchanges, it is better because you will be more enlightened and you will know the owners of each exchangers because this will reduce your fear, many exchangers have high ratings that have been tested for a long time. It is better to put your assets there. But we are still not sure that our assets are safe.
But if you plan to save, it's better to put it in a private wallet to be safe, ofcourse, keep your private keys and passwords.
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If you think you can't afford all the expenses, it's better to just work abroad. But if you are still able and able to cover your daily expenses, it is better to just look for an extra job or sideline online or offline. The best thing to do is to have budgeting for every income and avoid fancy luxuries to save.
We are almost in the same situation, here with us I don't have a regular job anymore but somebody give me a extra work. But I have saved up since I started working regularly, so now I'm just working with them as farmers and sometimes someone hires me to work at the construction site. Then I also strategize on ways to earn money online as a free lancer so that somehow I have some money saved that can be used when needed.
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I admit that it is not really easy to persuade our partner sometimes it even causes trouble. But if you can calmly explain the benefits it will bring, it will definitely make him think about whether or not he should start being financially disciplined. But right now because our son is growing up, we are really focused on saving money, especially since we don't know how far our travels in the world will take us. So it's really important to be the same and have discipline, these are the things that need to be learned and the result is the desired success.
The majority of women are more thrifty than men so you just have to wait for the right moment to talk calmly to discuss finances in old age, I think he would suggest it is better because the soul of a mother will think about the future of her child and the future with her partner to live happily when old age Even if you are some type of woman who likes shopping but there is no more money for monthly savings, so you have to think of ways to persuade her to reduce excessive spending and invite them to communicate about how their next life will be if their income decreases, and what things are prepared for financial management for life which is better in old age. Not all women are good financially because they need more cosmetics and many hygiene products for herself , I agree more with our men because we can still save but for them it's a bit difficult. But there are women who are simple but financially rich. Most of them are businesswomen who are thinking of growing their finances. My partner is not like this, but he has financial discipline and he can limit his needs so that something can be added to the budget. Now me and my partner have savings that can somehow be used when needed and will grow even more while we are still strong for our old age there is something to use and leave to our loved ones. |
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So it is better to start saving while still alive because we will come to that point. It is important that we leave something to our loved ones that they will definitely benefit like a house and lot, a small businesses and ofcourse money. But if they learn the importance of crypto in finance it will be even better. Because they are the ones I can leave my assets to if I ever disappear from the world.
but you should make sure that they knew how to access it or where because it is still useless if you are only the one knew it and they can still access it . We cant really predict death that is why you should be prepared to tell your love ones that you own it. Having a house and land is really the traditional way and it is very useful to our family or children if they inherit it that is why most people right now are really working hard to buy those so that they can give it to their future childs. Somehow he already knows how to use my online wallets. Because most of my wallets already have biometrics and their fingerprints are also registered. They asked me before what the apps were for and I explained that I would store assets or a wallet. They are just surprised why there are values and how to make money. I said just follow what I'm doing and you'll learn more. Let's be different, right now I haven't built a house but I have land to build on. I plan to build a small business first so that if we're lucky, we can build the house we're planning. Just save while you're still strong, work in the morning work in the evening. They say that only perseverance and hard work can achieve what you want to achieve.
When I get the pinnacle of success because I have done true financial discipline I will definitely be as successful as you guys. I can also do what the financially successful do. But right now, I have to fight the obstacles in order for me to fully achieve that discipline. It's also right that my partner and I should talk properly about things and things to do in order to have good results in the future. It's really hard to be the only one exercising discipline especially when it comes to finances.
Talking with your partner and discussing everything is very important. Because we really have to manage finances well together with our partners. So that everything will be lighter if done together. But talking to your partner is sometimes not an easy matter. Sometimes we and our partners have different opinions. so that was where the obstacle that I had previously gone through and needed patience until finally my partner understood and started managing finances well together. Talking to your partner is easy but persuading her to be disciplined is almost impossible, especially when it comes to finances. I have experienced that phase and have to admit that sometimes giving up persuasion is much easier and more effective than changing her mindset to be disciplined on finances or anything. Saving enough for the old age is a privilege that one can strive to have no matter how lowly he or she might start. I am not going to details into managing finances in this thread but the most important factor here is discipline and consistency. I admit that it is not really easy to persuade our partner sometimes it even causes trouble. But if you can calmly explain the benefits it will bring, it will definitely make him think about whether or not he should start being financially disciplined. But right now because our son is growing up, we are really focused on saving money, especially since we don't know how far our travels in the world will take us. So it's really important to be the same and have discipline, these are the things that need to be learned and the result is the desired success. |
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Once already in this situation it is good to have sidelines, there is always a chance to save as long as we find ways and dedicated to do it for our own and families benefits.
I'm doing everything that can be a sidelines just to save money and support my family. Even if the body hurts, it's okay because all the hard work has a good destination. It is true, it is very important to plan our future so that when we grow old there are things that we can use for important matters. But if you start a family at a young age like me, it's very difficult to save up because almost everything I earn from working in construction is enough to feed my family every day. But even so, my partner is able to save through his own work which is for our son's future. Even so, I still earn some money online then save for my family. For me diligence and determination are the only important things to save, because if we don't have it, we won't get the goal we want.
Discipline, consistency, determination, perseverance and hard work are indeed important factors that must be possessed by everyone to plan and create a brighter future. It's just that sometimes it takes great motivation to do it. and also we need an insight in managing our finances in order to maximize effectiveness in the use of finances and the allocation of finances. so it's easier for us to save for old age. I agree that we should completely do all of that ourselves. Because that will help to realize savings for the future. But you are right that without financial discipline it will not work either. at this time when this are so unpredictable we are not sure whether we will get old or not die young one should have a good life and have some savings for a better old life. So it is better to start saving while still alive because we will come to that point. It is important that we leave something to our loved ones that they will definitely benefit like a house and lot, a small businesses and ofcourse money. But if they learn the importance of crypto in finance it will be even better. Because they are the ones I can leave my assets to if I ever disappear from the world. |
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