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It's actually difficult to find a well earning money sources these days. Inflation actually hit every country despite the salary of the people remain the same. From your post OP, it's a good move to know Bitcoin as a opportunity to have profits but let's not forget the fact it's volatile which makes it risky to invest or trade. From your post it's like you were only focused on the bright side of Bitcoin, but let's remember as long risk is involved you still need to be careful with any investment especially if you can't afford to lose the money. It would be better to invest with yourself first with knowledge about Bitcoin for you to lessen the risk of losses since you already have the knowledge.
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When it comes to this topic it literally shows the different mindset of people when it comes to money based on their experience. Of course if you compare poor people who is homeless to a farmer, for sure those farmer would be contented since he could provide all their needs. While the poor one doesn't have the resources to find some way to gather money for their food or even the food source itself. I consider people poor if they literally doesn't have any resources and any other way to find a well paying job due to their lack of things. It's like you don't have any options or ways to get out of that situation.
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It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.
Make sure to be 100% certain that the place you are downloading your wallet from is not a scam site.Scammers set up websites for people to download a bitcoin or crypto wallet from (especially electrum wallets) and place malware in the wallets so that when you launch the wallet you have downloaded off their scam site it steals your full balance the moment you send coins to it and transfers them to their criminal wallet address.ONLY DOWNLOAD YOUR WALLET FROM THE CORRECT WALLET PROVIDER OR YOU MIGHT LOSE ALL YOUR COINS! Exactly, always double check what you are clicking since scammers are exerting effort to make a literally same website for you to get scammed. From my experience, it's from a nft project where they have discord channel posted all the legit links for their social account since it will be posted in their social media all the details. But then suddenly their ig account posted already minting so it already fishy but I saw a lot of people already minted more than 10 ETH+. Checked discord and it's confirmed hacked and fake mint. Also the ads when you click an illegal site which lead you to another tab, it's already a fake. Don't ever get curious to click anything about it cuz it might be drainer and get your private informations. |
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I don't know if I were your wife it'll be like just random to give your wife on your special day something they don't understand if she doesn't have idea to Bitcoin. Investing in Bitcoin is actually a good move, but just think something as a gift where your wife will have a memorable day by just receiving it. Because for sure you'll still have to educate her about Bitcoin once you gifted her if she doesn't have the knowledge. It doesn't need to be material thing maybe things that are useful for her to use. There's always a right time to open the bitcoin in other special days.
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Can you quit gambling if you make a life changing money and never go back to gambling?
I asked this because those who made some money through gambling near me always go back to gamble and they end up losing everything they once made through gambling.
Is it fine to say that people should not go back into gambling once they made high amount of money? Because the chance of losing that money again is very high, even if they don't use all the money to gamble at once, gambling can take it all back in time.
Have you ever won a high amount of money from gambling and managed to not lose them all back to gambling? And to date, you are still gambling?
If they have made their profits through gambling, it is very difficult for them to quit gambling. Very few people can actually do this. Because the time it takes to gamble until you win creates a habit in people. You cannot quit this habit easily. If you have a high income from gambling and cannot quit, reduce the amount you play. Now start playing for fun. Because there is a big difference between playing to win and playing for fun. But if you already won a huge amount that can be considered as life changing money, then it's up to you for you to quit since with those money you could open a lot of investment like business. If some people consider it as a work already since their income only came from gambling then I will consider already a pro. You couldn't always take a win there that could provide your needs since your risking your money that can be used to buy some essential needs in your home. Just my thought is to take an investment in every profit you get. By that you can simply quit gambling or retiring if some people consider it as work. |
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That's actually good, I remember when I was a kid my photographic memory is so good that I still remember it nowadays especially the colorful ones, I read a lot about science where there's a drawing of droplets which explain how rain works! Maybe drawing some step by step with a cartoonish drawing. I think there's already existing comics about investment where you could start giving them so once they are familiar with some basic stuff where money involved then you could proceed to crypto. In online there's already an explanation thru visual for us and them to easily understand.
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I don't think if there's a product that increased in your country, it might be only in your country not worldwide. In my case it's not the egg that in shortage but the chicken itself. Almost all of the fast food doesn't even have chicken due to shortage and they only serve foods such as spaghetti. I thought at first there's something wrong like I immediately watch some news if there's something like a disease in the chickens or not. But there's none so in short they might got a shortage of supply from the branch itself or the place but it doesn't mean it's about the economic issue.
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No need to be bias when it comes to these two. It already shown their potential by just reaching it's current value now. Of course the Bitcoin which is a digital currency also have pros and cons, as you stated in your post which is sided in Bitcoin and only mentioned about the pros of it. Bitcoin's volatility also can be considered as cons to some people and you can only use it via software. While for the gold, it could take decades for it to survive and have a low supply that's why it worth a lot.
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If your friend are already have knowledge about Bitcoin then for sure he's aware with its volatility nature. There's nothing to be sad those downfall of Bitcoin's value would only be a bad effect to inexperienced people or newbie. As a good trader or investor you would take advantage with its volatility which is the reason why people love Bitcoin. Just invest again the money that you afford to lose and aim high again. If would be impossible for us to profit with experiencing losses.
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Banks generate income through different product and services like one of the primary ways is by lending money to customers at a higher interest rate than the rate at which they borrow money from other banks or the central bank. The difference in interest rates, known as interest rate spread allows banks to earn a profit on the loans they make. Banks also charge fees for various services such as account maintenance, ATM usage and wire transfer. Banks may invest their own funds in various financial instruments such as stocks, bonds and real estate to earn a profit on their investment. Some banks generate income by providing advisory services to clients or by offering insurance products.
Number one of their income is obviously lending  it could be lending to other bank like credit suisse case or lent to other people, a company or government project or lend their money to the government bond. the point is they generated money from lending. and that is pretty much 90% i think Another things is through transactions, you are not giving the service for free. But biggest source indeed is through lending or loan (in my area). It allows the bank to make their funds revolve around their users with monetary interest. It is the nature of centralization which made this possible and if we would compare it from this technology then there's a huge difference with how money flows. As we all know, banks have plenty of users which is considered aspect of bank. In this industry as well but centralization and decentralization are far from one another. As ive read in the replies, banks has the weath and all but due to centralization, they are also liable withnegative tendencies such as losses. The interest they give to every loan is somwtimes actually high that it really gives them a big time profit and earning. Imagine not paying in time would give you an extra payment? That's how they generate money plus I don't know if some bank literally have connections in each other because if you use other bank's atm it will cost you too much fee since the bank you have is not available in some places so you have no choices but to use other bank that will cost you too much transactions fee from my experience. This is centralized work that's why most of the people prefer to use decentralized system. |
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It is certainly believable that Bitcoin has given financial freedom to every individual. Since earnings can only be made through investment, free financial freedom has greater opening power. Since Bitcoin has no banking sector, Bitcoin remains a bank for every individual to have unlimited transactions and savings and even reinvestment if they want. So Bitcoin offers complete financial freedom.
Exactly, the only thing you'll have issues would be probably the knowledge about it. Let's be real if we say these things to a person with zero knowledge about Bitcoin they would have an impulsive decisions which causes them to lose a lot of money. Most people loves to be spoon feed and easy money which is not applicable in this industry. With it's volatility present if you have the knowledge you could took advantage from it but if you don't the knowledge then it would be a cons. This decentralized system is all yours to handle so it require complicated information and skills. |
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In today's world, money has become a precious thing. As before, money is nothing compared to one's ability or education. Almost everything is available for money. Money has become such a key issue. We all run after money. There are people who have as much money as they can He needs more.
While it may be difficult to face the fact that money is often never enough, I think there are steps we can take to manage our finances wisely. Namely, making a budget and managing finances in a disciplined manner. By identifying unnecessary expenses and prioritizing needs, we can control our spending. So, don't let the obsession with money rule your life completely, but use money as a tool to achieve a more meaningful life and build a better future. I think if you're obsessed with money then probably you would also do some managing to your finances to lessen the cost of your living. But most of the people we could see these behaviors from really rich people, they were too focused on making some money which makes them doesn't have time for their health and their family which can be considered as toxic trait. For me it always be balanced always have time for yoruself, family and for oyur work. |
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All are risky, the higher the return, the higher the risk. Holding takes a long time to make a profit, or you won't even make a profit if you hold the wrong coin. For lending, you may have problems like borrowers not paying or the lending platform crashing, as you mentioned. But if all goes well, you will profit monthly or even daily. Holding, lending or trading are all ways to profit in this market. Each of us has different options according to our needs.
Hodling in best strategy in a sense that you have full control over your holdings. Lendin is fine if your loan is backed by some smart contract. Real world loans doesn't go well in most cases as its now on lender to return or not. The only down side of Hodling is that it takes time and in case of bitcoin it gives good return. If I have to choose among these two then I would defiantly go for Hodling. Hodling might took a lot of time for you to earn but if you were finding the safest way to not lose money then hodling is for you which is also I prefer. I still find lending not a good idea when it comes to industry even in the real world. Interest is given but the fat that you'll to think about it like " I need to pay my debt " mindset in every payroll. I would rather keep my mental health good than borrow money. Maybe if I see more cases about lending that sucessfully profited a lot then maybe I will reconsider. |
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Is it true that cryptocurrencies will weaken the global financial system? That system which is managed by countries with the strongest economies with their currencies that has gained wide acceptance to be traded in financial markets all over the world.
Cryptocurrencies, like Bitcoin, have the potential to bring both benefits and challenges to the global financial system. Some people believe that cryptocurrencies could offer more inclusivity and faster cross-border transactions. However, there are concerns about their price volatility, lack of regulation, and potential risks to financial stability. It's an evolving area that requires careful consideration and monitoring. And the centralized system is not yet ready to face those concerns when they try to adapt cryptocurrencies to everyday life. The transactions you will make using crypto are much more convenient and less fee worldwide. As you said, crypto involves volatility which can't be used as regular money that people use for any transactions they make in everyday life imagine your 1 coin would be less worth its value before in just a short time right? Plus if people transitioned to adapting crypto rather than fiat money, then it will literally have a huge effect on the economy and fiat would be worthless where most of the country relies on fiat money. |
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What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.
I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....
That can happen with gold with fiat because they're all centralized and tangible, but with bitcoin, it's virtual and invisible. How can they take it from us if we keep everything private? That is one of the great advantages of bitcoin that not even gold has. Bitcoin values privacy and anonymity, so when using it, we need to focus on the benefits it brings us. In case, even if we get caught, the government has no way of getting our bitcoins. Yes, that was the case in my country, as the government sees the people earning money without paying taxes that's the time they tried to seize and control crypto. But of course, they failed because crypto was made to be decentralized where you are the one in control of your assets. They can't even have track of anyone's funds since they are anonymous so it would be a lot of work for them. If you work in a government about economics, for sure crypto wasn't part of your job so in short it would just complicate the system if they try to control something they can't. Only thing they can do about this issues is to ban the crypto itself to the country but were unstoppable we always make solution to problems. |
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My friend's story sends me a signal: no matter how much I earn right now, try to keep my job and souce of income stable. I am also a family man and have responsibilities. Anything bad can also happen to me so I have to be prepared to the unforseen problems, although I am doing fine now. Make hay while the sun shines. If you have any advice for my friend, please let me know. Thank you.
That's why if you have a family or have a responsibility, don't just focus on one job. Because if you only focus on one job and don't have a business or expertise in other fields, when the company goes bankrupt or gets fired, you will definitely feel confused about finding a new job again. But it's different if you have a business or useful skills, when the company where you work has problems or is fired, you definitely won't be too confused about income, because you have a business that is already running and controlled. To start, you don't need to have a very large business, the most important thing is that you already have income and can be developed. So the term is don't be monotonous and just stay silent when you have a job. Even though it must be packed with work schedules, try to start something new on the sidelines of the busy work. Want it to open a shop, or with other fields. And don't forget to keep saving and investing, because I consider these two factors important and mandatory in my life, and will definitely come in handy in emergencies. With life getting more and more difficult, the cost of living is increasing day by day, and having a source of income can never be guaranteed, even if it is a high income. Indeed, we should have 2 to 3 sources of income these days because the unexpected can happen at any time. Although it will take us longer and be more tiring, for the sake of our families and to ensure the safety of our families, we need to make sacrifices. No matter what job we do, we can't do it all our life, when we get old, no one will hire us, or we will no longer have the strength to do it. So I also agree with you, any man should have savings and investments. It is a must have, and it will be beneficial when we are old and can no longer work. Here in my country, as you said the cost of living is increasing day by day. Which is true as inflation rises the value of products increases but you know what's the worst part? The salary of average working man still remain the same as a result, they couldn't even save money or invest. My thoughts about this is that never ever make a family if you're not ready yet, because those bare minimum salary only sufficient to one person. If you're living alone then you might save some money to invest so when the time comes you already have some backup money for you to support your family. |
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May article ba tungkol sa balitang yan? Hindi ko kasi mahanap. Pero para sa akin, okay lang naman mag flex sa social media paminsan-minsan, lalo na kung para sayo ay achievements yun. Walang mali doon. Pero dapat lang limitahan ang pag share ng mga assets na meron ka, kasi hindi mo masasabi kung yung ibang nakakakita sayo sa social media ay may plano ka na palang nakawan. Yung pag popost ng mga pera or crypto na meron ka, nakakaakit kasi sya sa mga mata ng taong kayang gumawa ng masama for the sake of money. Sometimes sa sobrang pag flex ng tao, nalalagay nya na yung sarili nya sa panganib. Magkaiba kasi ang pag flex lang kasi proud ka kesa sa pagyayabang, kaya maganda rin na lowkey ka lang.
Okay lang talaga yon pre nagiging motivational pa nga yung ibang lowkey flex kasi naiisip ng iba na dadarating din sila ganong point na madaming achievements. Siguro ang mga achievements sa mga certification and medals ayon ang maganda iflex, kasi kung money ang involve sa ishashare mo sa mga tao siguro ang una nilang mafefeel ay inggit? Kaya nakakagawa sila ng masama kasi magkakaron na sila mawawalan pa yung kinuhanan nila. Still the best way to live in life is to stay humble lang. |
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Yes, the idea that you setup while in this investing/trading business, you need to allocate funds that are intended for this business
amount that you plan for you to grow and not to risk like gambling.
There are ways and patterns that you can use to make things happen, but same with your opinion, there's no guarantee as the market is unpredictable
you can anticipate but the accuracy depends on how you project your target.
It's always the best to work with your good understanding and try to work in earning decent benefits.
Everything about money requires understanding what you are doing, otherwise you simply cannot control it. Business, or investing does not matter, the essence remains the same, you must understand exactly how to act in a given situation in order to achieve a certain result. If you act on someone else's advice, or act on your own without analysis, you will almost certainly lose money. You are right, that's why it would not be recommendable to rely on someone's call in this industry since it involves money. You should invest on your knowledge first before you stake your money so you wouldn't ask someone to make calls for you because in the end you can't blame them when you lose your funds. It's your own money at stake so it should be your own decisions don't always expect a easy money take your time to get the knowledge you need. You can get second opinions but always do your own research. |
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You know if your friend is really into Bitcoin and he's really interested he would find a way to invest without having a problem, let's be real even some banned sites in our country we always find a way to use it for example pirating movies which is literally illegal but some people still use it. And I think it could be compare to Bitcoin since it's banned to their country. Of course his father would not allow him as the Bitcoin is banned plus the tendency of his father not knowing the complicated information about BTC and might know the risk of it. He might asked his father for advice but if I were your friend knowing this circumstances, I wouldn't even let anyone know I'm involve to BTC.
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Well if you consider things things in crypto as gambling then there's nothing wrong about it since there's always a risk involve in this industry with it's volatility present, it makes everything risky. Maybe it only differs when it comes to actual gambling is that you couldn't rely on your luck and gut without having the knowledge you need in crypto. Like for example, in gambling for you to play and bet you must understand how the game works and it's rules before you can even start right? Same thing with crypto, you need to be familiarize first so you can understand that those risk can be lessen if you have more information such as techniques and experiences.
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