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1
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Economy / Economics / Re: Do you spend more-do you get more?
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on: May 26, 2023, 06:42:14 PM
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There is an opinion that the more money you spend, the more you get in return, it is interesting to find out who really works in this direction. I spend enough money, but I have a fixed income, therefore I will not be able to get more. I don't have rich relatives, and I don't expect an inheritance either. I want to get rich, not to deny myself, but I have to save on everything. Who really faced big expenses and received even more? How does it work, maybe I don't understand the essence of it correctly?
if you want to be rich, in my opinion, don't save to get rich, but invest part of your salary as an asset that runs for the future, instead of saving every year, your money decreases because of inflation, because there are no rich people who don't invest, instead of spending money for useless things, it's better if you buy assets that will help in the future and don't spend much money than your income |
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2
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Economy / Economics / Re: Why you should use spare money to invest
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on: May 26, 2023, 06:34:55 PM
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There is no normal being that loves getting losses on business, career, investment and trades that's why even company holders make financial policies to keep record of investment and profits flows. And unlike other business bitcoin also makes sales and losses if you do not investment wisely....is nice when you put in what can not put you sickbed or gives you hypertension, don't invest out of what you cannot withstand the loss.
Is better to use small money or learn risk management first before investing especially newbies.
Yes, that's right, learn first what are the risks involved in investing, hone our skills because all of that has benefits because that minimizes our risk of loss in investment because investing is not just buying and waiting for prices to go up and then selling. we also have to study what assets we buy whether these assets have the potential to increase or decrease in the future |
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4
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Economy / Economics / Re: Money as a store of value...
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on: May 14, 2023, 07:45:56 PM
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Firstly what is the word store of value;store of value is something that maintain its worth both in the present and the future.Money is a type of assets in an economy that you can use to buy goods and services from other people or businesses.One of the functions of money in an economy is that it's serves as a store of value.
A store of value is something people use to transfer purchasing power from the present to the future.
While money is an asset that can store value, and also Gold and silver for example, acts as store of value.
Since money is accepted as a store of value, trade is much more efficient.When an individual or business accepts money in exchange for a goods and services, the seller can store the money in a bank account and retrieve it later in the future.
I agree with your opinion that money as a medium of exchange for services and others and gold and silver money can be a store in the past and the future but money? I'm not sure about gold and silver. I agree that it can be a storage device in the future, but I don't think money is because day by day the nominal value of our money continues to decrease because it's called inflation because money is continuously being printed without any valuable backups. Money is only backed up with trust. So if money is said to be storage in the future I don't agree but as an efficient medium of exchange I agree |
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5
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Economy / Economics / Re: what is the key to your success investing in bitcoin..
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on: May 14, 2023, 06:42:59 PM
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everyone definitely wants to be successful in investing, especially in bitcoin. and of course it is not easy to achieve success in investing, even though it sounds easy to invest in bitcoin, for example as follows:
: buy at a low price sell at a high price.
: must hold strong, and do not sell it when the price drops.
but in reality there are so many people who sell when the price drops, even though they have to take the risk of loss.
I, who don't have much experience in bitcoin, want to ask what is the key to your successful investment in bitcoin?
and I want to ask if you have ever experienced investment losses in bitcoin?
I hope my post is useful for me and all in this forum.
remember that in investing there must be such a thing as a loss, not just in bitcoin investment, other investments are also like that and there is no such thing as an investment that can guarantee 100% return. In my opinion, the key to success in investing in bitcoin is patience. I plant words like if we can't hold back, we won't be able to be rich. Words like that are my motivation when the market is falling, and those words make me think about cutting my coin loss. why don't I buy more coins when the price is falling (discount). that's what made me successful in the world of bitcoin investment. |
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6
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Economy / Economics / Re: marry rich: marry fiat rich or crypto rich, which is better?
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on: May 13, 2023, 08:39:45 PM
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In life you have to be rich of something, or nobody want to marry to you, and have build a family with you, you would be foreveralone, and the media would constantly mogging you over and over again for being foreveralone to remain you. And your mum would constantly tell you if you don't get married nobody would take care of you when your aged. Nobody would make a tomb for you, and when you died you would go to afterlife with empty stomach and would suffer straving too in the afterlife. That must be a lot of hurt! ouch!
So back to question. which is preferred? Married to fiat rich or crypto rich? Although crypto can be created at the comfort of your basement, also the value would plummet quickly to near zero too. Do you think in your life, you would ever see someone marry to crypto rich? btw recent news about ftx being rejected to sponsor a superstar due to it is unregistered tell me marry crypto rich might be a distance dream. Also there would be only 21m bitcoin existed, only 21m couples would be able to married rich. When there is billions of population, a lot of couples may not marry rich, due to unequal distribution, some of the crypto super rich would married hundreds of thousand more.
maybe if I am asked to do both I will choose whether to be rich with fiat money or crypto because in that context they are both rich. if we are rich we should be grateful and do good to people. it's up to you whether you want to get rich from crypto or not as long as the assets are legal and not illegal |
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7
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Economy / Economics / Re: If the dollar/fiat was worthless!
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on: May 13, 2023, 08:34:03 PM
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What happens to the value of bitcoin if the dollar goes to 0? Will bitcoin also loose value because the dollar is worthless? yes, there would probably be other things to mind like world war, full panic, no internett and so on. But set these things aside. How much would a sack of potatoes cost, and with what could I buy these potatous witth(gold/bitcoin/chickens/etc.)?
Any ideas? and any ideas on how bitcoin could be independant of the dollar, or other fiat?
I see a lot of good ideas here.
The reason for this thread is to explore if there are some other ways to value bitcoin. Like many of you said, it would probably just hop over to the next largest currency. But do we want the bitcoin to allways be dependant on another currency and its inflatory politics? Many of you also said that the dollar will never go to 0 and there is no reason to worry about this. But every currency in the world is loosing value everyday. Therefore bitcoin is also loosing its value. it may be a stupid question, but would it not be better to have another way to value bitcoin so you could allways buy 1 sack of potatoes for 1 satoshi for exampel?
maybe if the dollar price is 0 bitcoins will definitely go up crazy a lot and if that happens it's legal bitcoin which will replace fiat money people won't believe in the name paper money because it's clear the value has dropped to 0 but you need to know the money we use every day loses value every day after I know everything about money there is no lag gold back up when money is printed I believe 100% to bitcoin because only 21 million bitcoins exist in the world and are decentralized I am sure bitcoin will definitely replace paper money but with very long time |
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8
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Alternate cryptocurrencies / Altcoin Discussion / Re: USDC is not safe
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on: May 13, 2023, 07:55:03 PM
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Well, we all know Tether has issues and many people say that USDC is much safer than USDT which is not true according to this research. Although this tweet is few months old but it is a moment of concern. All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation. In this situation, what can be the best way to store our stable coins   https://twitter.com/CryptoInsider23/status/1542027718677504002I personally probably won't save my assets to any stablecoin because it's the same as centralized banknotes, they're all scams in my personal view. I prefer to keep my assets in bitcoin with a cold wallet like trezor or safepal wallet because it's 100% full, we control what's more, bitcoin is limited to only 21 million coins in the world, the nature of fix can't be added anymore |
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9
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Alternate cryptocurrencies / Altcoin Discussion / Re: PEPE time to buy NOW?
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on: May 12, 2023, 09:08:36 PM
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The PEPE is down to 0.000001 value now is good time to buy yes? ? https://coinmarketcap.com/currencies/pepe/Binance aproves PEPE as a good oportunity.11.5 Elon musk made a Tweet about PEPE 10.5 5000% PROFIT IN MAY POSSIBLE TO ALL ?the right time maybe yes but you need to remember that pepe is a meme coin which is only seasonal it's a new memecoin hype but at today's price maybe you're too late to buy it because you bought it when the coin was high but it's up to you whether you want to buy it or not but know the risks because coins like that are very volatile this is just a suggestion and what i know |
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10
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Economy / Economics / Re: The thin line between contentment & living below potential, Patience & wasting t
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on: May 12, 2023, 08:21:47 PM
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There is a thin line between being contented and living below your potential, this is what I have come to notice with some people around me who should be doing better financially than they are but because they claim to be contended they have refused to do more. How can you explain financial contentment to someone successful and what do you think it is?
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
Personally, financial satisfaction is financial freedom. We don't think about the price of the goods or food we buy, but to achieve that, we must be successful first. the way we know we are not wasting time, in my opinion, is to do something useful for ourselves, like hanging out with our business friends, at least we have new knowledge and relationships every day, not just bullshit |
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11
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Alternate cryptocurrencies / Altcoin Discussion / Re: Whats Your Favourite Meme Coins?
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on: May 11, 2023, 08:44:14 PM
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so far my favorite memecoin is still dogecoin because dogecoin is the first memecoin i know and dogecoin gave me a number of very large profits i love dogecoin what else is doge coin one of elon musk's favorite coins i'm really waiting for new hype from dogecoin doge to the moonn |
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12
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Pepe The Frog (PepeBNB) made 644% in 2 days and keeps growing
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on: May 11, 2023, 07:42:46 PM
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memecoin is now getting more popular than doge, shiba, floki, now pepe coin which is very popular on social media is pepe going to be the new shiba? I think it could be that yes, Pepe rose very drastically in 2 days up to 644%, but you need to remember that this is a new coin hype meme. I think memecoin is a seasonal coin, every new increase there must be a decline that will come very risky if you buy now but if you want to buy it too it's up to you this is memecoin's new hype |
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13
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Economy / Economics / Re: Success is fundamentally determined by luck, not effort.
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on: May 11, 2023, 07:07:06 PM
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Recently I have had numerous reunions with Uncles from my extended family. Some of them are successful businessmen for decades. They built their business from nothing and are living quite a comfortable life now. We had long conversations about life in general, including their key to success. I knew very well that they have been hard workers ever since I had a memory so I would contribute their success to endless efforts. However, one thing they had mentioned in common was luck. They believe pure luck made them meet and grasp those opportunities and become successful rather than their smartness and efforts. I've thought about this before and couldn't agree with this more. They've set very good examples to me, including my father, and now I tend to focus more on work itself consistently and let luck or fate takes the rest.
I don't think so, the luck factor is indeed one of the important factors for us to be successful but it doesn't rule out the possibility that we can also be successful without it, the point is if we are diligent in trying to work hard not being lazy staying consistent with what we do I'm sure we can become successful people . because success is only for worthy people |
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14
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Economy / Economics / Re: BTC Silver and Gold
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on: May 10, 2023, 06:28:09 PM
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I am curious. How many of you also stack gold and silver in addition to BTC as a hedge for inflation?
I am also one of the holders of gold and silver as an asset to protect against inflation but most of my assets that I exchange as assets are resistant to investment, namely BTC, gold is in second place and silver is last, but overall I exchange it to bitcoin |
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15
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Economy / Economics / Re: Bear And Bull Market?
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on: May 10, 2023, 04:49:38 PM
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What is the real difference between bull and bear market and how can one utilize them to make some good profits?
I will give an illustration of how to take advantage of a bull market and a bear market, but we must know the difference between the two. A bull market is where the market is rising, while a bear market is a down market. We must be able to take advantage of both. I personally will do different things if the market during a bear market I will buy more coins because I think during a bear market it is a discount in my opinion and if during a bull market I will slowly sell my assets that I bought during a bear market so the cycle repeats itself |
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16
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Economy / Economics / Re: Have a Income? Invest in Crypto or Not? Let's think realistically
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on: May 09, 2023, 08:21:18 PM
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Trading is not easy,
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
I totally agree with your opinion that trading is not as easy as other people think, as well as the name of investment, what's more, investing in cryptocurrency is a very volatile market. We have to know when we enter and when we exit trading and investing as much as possible, don't ever use hot money. again all in to a coin is very high risk remember to look for coins that have the potential to go up with personal fundamental analysis don't ever follow other people's words because no one in this world can predict the market will go up or down so stay safe |
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17
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Economy / Economics / Re: Deposits-in the bank or in gold?
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on: May 09, 2023, 07:06:44 PM
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How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?
if asked to choose between savings in a bank or gold of course I choose gold because gold has a value that tends to be stable but if there is another choice I choose bitcoin to protect my assets against inflation because there are only 21 million bitcoin coins circulating in the world of fixed value and no it can be added differently with money and gold. I think one of the top assets for dealing with inflation is bitcoin, how about you |
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18
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Alternate cryptocurrencies / Altcoin Discussion / Re: Promising altcoins?
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on: May 07, 2023, 06:41:44 PM
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Ethereum (ETH),Binance Coin (BNB),XRP (XRP). how to choose how to distribute the interest on them?
maybe I will share in the form of a 60% gratuity in ETH, 30% BNB, and 10% XRP this is only based on my analysis and that has the potential to glow up 10x maybe I will allocate my assets between ETH, BNB, XRP as above. |
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Alternate cryptocurrencies / Altcoin Discussion / Re: How Confident Are you With Altcoin In This Time
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on: May 07, 2023, 06:20:20 PM
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Quite a lot have happened in the crypto investment market with the long run of a bear market in 2022, as a result of the various market crisis ranging from ftx bankruptcy and Luna crash that affect the market for a long time, before the present recovery, many crypto analysts such as myself are confused as for what the level of confidence of investors towards altcoins in this period. Do you consider any altcoin to be pf future profiting, if yes then what is the percentage calculation of your confidence level in that coin and why should we hold them for a long-term basis?
I currently only save and trust one altcoin, namely ethereum because ethereum is arguably the bitcoin killer and my level of trust in ETH is maybe 80%, maybe I think eth will grow 10x in the next year, according to my analysis, there are probably two good assets for investment and in sleep at the moment BTC and ETH I think maybe I will split BTC 60% ETH 40% of my total investment assets this is not investment advice this is just based on my analysis |
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20
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Economy / Economics / Re: Could there be a new financial system not dependent on USD?
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on: May 06, 2023, 08:24:40 PM
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Source: Tutwa Consulting Group BRICS nations are advancing at a fast pace to eliminate the U.S. dollar-dominated financial system. The first step is to bypass the U.S. dollar and the second step is to create a new currency to settle international trades. While the first step is already in practice, the second step could be put in place after the BRICS summit in August 2023. The alliance countries have already taken measures to bypass the US-dominated global financial system. The aim is to move away from the dependency on the U.S. dollar and provide an alternative global financial option. BRICS is an alliance of Brazil, Russia, India, China, and South Africa. BRICS: The Next Step To Eliminate The U.S. dollar currency Source: Unsplash Just recently, BRICS nations overtook G7 countries in global GDP while taking purchasing power parity into account. Russia announced that it would pay with the Chinese Yuan to settle trade with Asian, African, and Latin American countries. China and France completed the LNG gas trade using Yuan, ending the dollar’s reliance on energy trades. Therefore, BRICS are currently successful in their plans to eliminate the U.S. dollar to settle global trades in native currencies. However, if the alliance countries agree to a mutual currency to settle global trade in the upcoming summit in August, the dollar may face a significant drop in demand. The U.S. dollar might lack potency if the BRICS countries fully eliminate it for global settlements. Over time, many other countries could join the bandwagon and distance themselves from the USD. The development could make the dollar weak and make way for a new financial system not dependent on the USD. The success or failure of this development now only depends on the next BRICS summit in South Africa. The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the near future,” said the Deputy Chairman of Russia Duma, Alexander Bobakov https://watcher.guru/news/brics-advancing-to-eliminate-u-s-dollar-financial-systemAccording to my personal assumptions, this can happen, especially recently, Russia, China, wants to get rid of the dollar, they will create a new currency without using the US dollar, that's one proof of rejection of the US dollar, but I'm sure there will be a new currency between countries without the dollar, but the dollar will stay. according to the price. |
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