Inflation is really biting hard, and nobody is doing anything about it, should we all just go with what Tupac said, "that's just the way it is, things will never be the same".
A lot of person's have ascribed this global inflation to the crisis Rocking Ukraine and Russia, a lot of person's have also said it's as a result of shortage of gas supply across Europe and other countries.
The whole story is not just clear, as to why inflation is biting so hard and IMF AND WORLD BANK are not doing anything about it and the people are just left to face their fate alone.
The prices of goods and services are constantly going astronomical high and there is no hope insight of this ugly situation coming to a halt.
The purchasing powers of citizens are getting weak and I don't understand if the consumer protection laws are even effective anymore this days.
You buy something for a certain amount today, in the next one week, that same item you bought has charged Prince without any reason.
How are you guys pulling it through with this inflation?
That it true that purchasing powers of citizens are getting weaker and weaker and even the governments are having a hard time to implement those consumer laws because they cannot even control the surge in prices of the goods and services. Even the salary of the people who have a regular employment is suffering because the prices goes up but the salary is not increasing, it decreases the purchasing capacity of the people to buy their basic needs to sustain their daily needs. To be able to sustain the daily needs we should decrease our budget and buy only the important ones and try to find other source of income so that we could survive in times of inflation. |
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I have been involved with Cryptocurrencies for the past almost 1 year. It's only been a few months since I joined the BitcoinTalk forum. I spend most of my time trading which I haven't spent much time on this forum. But I came to the Bitcointalk forum and observed various discussions about Bitcoin investment. Finally after much thought I analyzed Bitcoin and took the advice of a fellow knowledgeable investor. He gave me specific advice on the downsides of Bitcoin and market volatility.
After full consideration I sold all the wallets I had Altcoins invested in. and with the amount of funds I made from that, I bought bitcoins and kept them in the trust wallet.
Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?
The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?
That is a great decision to move your investment to bitcoin. Basically the most trusted crypto currency is bitcoin. Yes it is good for future that you sold your altcoins and invested in bitcoins. Bitcoins would definitely increase its price and most of the altcoins just follow the increase of bitcoin and sometimes it does not. Trust wallet is safe but make sure that you keep the private key in a secure place and never ever click any suspicious link that was sent on your email so that your private keys will not be compromise. Because once your account was hacked your investments in bitcoin will be gone forever. So better to keep it in a safe and trusted safe so that you will not lose it. |
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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?
It is really to create a budget and tracking expenses if there is an economic crisis. With the inflation happening all over the world the prices of necessities increase drastically and it is really hard to adjust in that kind of situation. With that crisis our budget is suffering and even our normal salary cannot sustain our daily needs because of that price increases. If you will use your emergency fund make sure that you will replenish it or return back what you had used. Or you can find other source of income to be able not to use your emergency funds. For selling assets i will not agree with it unless you really cannot sustain your daily needs. |
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Take advantage of the digital world we are in today and put yourself out there.
A simple social media account that posts relevant stuff about your business and interacts with clients and potential clients is marketing.
Very few people on this forum don't use at least one Google product. Google has made it very easy to market your products and business using "Google ads". You can put out an ad that gets to your target audience for as low as $10 a month. You can use the cost-per-click (CPC) formula, that way you'll only pay for an ad when someone clicks on your ad.
Facebook ads are also very similar. You can place an ad that costs from $1-$10 per click. The same goes for youtube ads and many others.
These platforms have very good tools that can help you achieve your goal and achieve the objective set for your marketing campaign.
These may seem very complicated but they're not. There are step-by-step guides you can follow. They also have tracking tools you can use to track the effectiveness of your marketing campaign.
If you can't set it up by yourself or you don't have the time, you can hire someone to do it for you.
For your business, brand, or product to grow you have to make a conscious effort to make it more. Your service or product has to be superb, but I believe your marketing needs to be better.
A product is only as good as advertised.
[/quote]
I agree with you take advantage of the digital world because with the social media platform it can help a lot when it comes to marketing of your business. Advertising your businesses in a billboard or tv advertisement it would cost a lot of money. For the TV ads the cost would depends on the air time and on what particular show your ads will be shown. With the digital ads like google ads and facebook ads it could help boost up your business and it will have a chance to grow bigger. You can also ask services of social media influencers specially the starting influencers because they will show eagerness and also they are not expensive they would accept your products as sample and in return they will showcase it on their personal pages. With that it can help to boost as well your products.
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Is been a hard knocked to everyone trading bitcoin this seasons especially investment, my friend was sore disappointed for the recent falling of price because he bought $1000 bitcoin but the truth is that we cannot foresees the future in today, this is not the first time the price is Reding down, we should take advantage of this time at least you can use a small to purchase high value bitcoin. I wish we've profound bitcoin price analyst here, many people really wants to know the cause of continues price deflected, if you've ideas please your comments will be very important here. We newbies this days fall victims a lot because of ignorance of cryptosystem. Let's talk as a family.
A lot of people experienced the same way as your friend. Even me i had experienced that. No one can really predict the futures. The best analyst would be your self try to research more and study the movement of the crypto market. Trading could be a trial and error on the first few investments. Crypto market is truly volatile and it is very hard to predict. If you see the market in bloody red and if you think it is the good time then take advantage of it. You can see the historical data of the fluctuation of the market in different platforms. That is true I agree with you that newbies this days fall victims because of ignorance of crypto system. As newbies try to do an extensive research and make sure that you can tolerate the movement of the market. |
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I bought a $14.55 bitcoin a few days ago when it was at 22k. Again Bitcoin came to 19k. However, I did not sell bitcoins. I was convinced that the price of Bitcoin would rise again. I buy $50 worth of bitcoins again. Got some profit on this small investment. Looking at Bitcoin 24k today. I will keep it for a long time and will not sell it now. I think at some point bitcoin will pump a lot
Since I can't invest more dollars, I don't have that much money. Still will invest as much as possible.
As of this time if you did not sell your bitcoin investment even if you invested a small amount I am sure you earn a profit out of your investment already. As of today the price of bitcoin $30K+ and when you invested the price of bitcoin was around 22K. That is a good mindset that you would still invest when you have opportunity. But of course make sure that you will invest only your excess funds so that your daily financial needs will not suffer once you invested. Try to find other side jobs so that you could have excess funds to invest. Good luck on your future investments and keep that kind of mindset. |
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I have been reffered to join some signal groups but considering how everyone is claiming to no almost everything about Bitcoin trading which actually they did not, which resulted for many people to lose their money because of Crypto signal groups, were as they put almost all their money thinking the signal is a sure, little did they know they were making a terrible mistake.
I could remember a Bitcoin signal group I joined, as someone that has less knowledge about trading and how sure the group signal works, so I decided to seat back and watch how the trade will work, on the contrary it moves opposite direction and that was not the first time, what they normally do was to get some screenshots from other successful traders and posted on there telegram group to draw more attention so people could pay before joining. Though from my findings from othe traders I was able to deduce that not all group signals are false that most times it works exactly the way they predicted and most time reversal.
So what do you guys think, let's share knowledge.
There are a lot of signal group are offering to join their groups. Some are free some are with fees. You can consider joining free signal group and evaluate if they are really giving the right signals that could not suffer your capital. That is the right thing to do that you had seat back and watch how the trade will work. You should always believe on your instincts and do some research before you follow the signals that the group is giving to avoid losses. Not all signals given by groups are accurate. It is hard to find a reliable signal group that will give you an accurate signal. Better yet do your own research and study the flow of the crypto currency that you are interested in. |
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I see poverty as the inability to provide what you need. So when people assume that poverty is when you don't have money I don't agree. Now what if you have all you need and you don't require money to buy anything, are you poor? Some people live in communities where everyone lives agrarian life. They have all they need because everything they need to survive is available. Food is on the farm, water available and everybody is happy. Although it was hard during the Covid-19 lockdown many people lived without money. I have also seen many people leaving cities and moving to rural areas to live a natural life.
In summary when you have everything you need to survive and you don't need money, are you poor?
I completely agree with you that poverty cannot be solely defined by the lack of money. It is more about inability to meet one's basic needs which can vary depending on the circumstances. As you mentioned some people who live in agrarian communities may not need money to survive because they have everything that they need available to them. To be able to survive everyone should work and earn money to be able to sustain their financial needs. I know that everyone will do any job just to survive poverty. |
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How long in years should I go before I give up and close down a business that is unprofitable? I was listening to a podcast where Kelvin O'Neal 1 was featured. He said, "If you are not making money after 36months(3 years), you've gotta take a behind the barn and shoot it. It's just a hobby. It's not a business." According to him, "people can get so stuck on a bad idea that they just keep thinking that if I keep working on it, it's going to fix itself. It doesn't fix itself. It was put on your journey to teach you, what not to do." - To what extent do you agree or disagree with this assertion ? -Have you had a business that even though it wasn't profitable in the first three (3) years, then it kicked off to bring in good returns in the fourth (4th) year?
1 https://www.instagram.com/reel/CqVbhNCt0yF/?igshid=YmMyMTA2M2Y=In an average years a start up business could be profitable in 2 to 3 years time. That is right if your business is not earning within 36 months you probably shut it down or if you still want to revive it you have to change your marketing plan and assess what is wrong with you current strategy why you are not able to generate profit. That it is possible that your business is not profitable in the first 3 years then it would boom on the 4th year. That is why businessmen has a high risk tolerance in creating his own business. To be able to have a profitable business you should have a lot of patience, capital, a good marketing strategy, and also you do know your specific goal, know your customer as well. |
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Some few days ago, Mark Zuckerberg launched a new app called Thread. The whole netzines are wondering what his intention. Could this be an experiment. The shocking though expected of it is that a few hours after it was launched, it recorded success both in the number of users who signed up to use the app and most importantly on Meta's stock. However, looking critically at the app we can it is obvious that it is merely Instagram clone. We already know that there is some bad blood between Meta and Twitter. Or Mark Zuckerberg and Elon Musk. Given this, I would like for us to discuss this, if Elon Musk decides to launch a clone of Twitter app, do you think it would achieve the same level of success in terms of user base and Stocks considering Elon's controversial history with Twitter? - https://www.forbes.com/sites/brianbushard/2023/07/05/meta-stock-soars-to-18-month-high-ahead-of-instagram-threads-launch/There is a rivalry between Mark Zuckerberg and Elon Musk. Social media has been the forte of Mark Zuckerberg and we cannot deny it, almost all of his social media apps succeeded. I think Mark Zuckerberg is in the expansion of his app creation and anything he can do because it is his ability to do and manage social media apps. No wonder the netizens supports his creation because those social media platform has benefited a lot of netizen in terms of connecting to our families and friends all around the globe. I don't think that Instagram is a merely clone. As Elon Musk takes over Twitter there was a huge changes. I don't think Elon would launch a clone of twitter app and if ever i don't think it would reach the level of success if Mark because both of them have different forte. |
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Land is becoming lesser and not very available for agriculture as before, There is a lot of Urbanization going on and many land space are being built on to carter for the increasing number of persons. There will be lesser organic foods available for consumption as the worlds population increase and farming space reduces. Because of this, there now has to be an improvement in farming methods and I personally consider vertical Farming to be the future of organic food farming. In vertical farming, Plants are grown in stacked layers under controlled conditions like green house farming. In vertical farming, Ensures Consistent Crop Production
One of the biggest benefits of vertical arming lies in the fact that it is extremely reliable. That means, when you opt for vertical farming, you can be assured of getting consistent crop production throughout the year. This is further made possible because vertical farming doesn’t usually rely on the weather, allowing you to cultivate crops without having to get worked up about adverse weather conditions.
Uses Space Optimally
Reduces Usage of Water
One of the biggest perks of vertical farming lies in the fact that it follows a Hydroponic growing process whereby only 10% of the water is used. This mode of farming also uses fewer fertilizers and nutrients when compared to conventional methods. Since the water is completely clean even after usage, it can be duly reused thereby reducing the total cost and cutting down on waste.
Cuts Down on Transport Cost
You can always choose to grow crops in an area where your customer lives thereby reducing transportation costs, carbon dioxide emissions, and the constant need for refrigerating your produce. At the end of the day, this not only contributes to the freshness of your products but also makes them incredibly profitable.
Doesn’t Involve Chemicals or Pesticides
When you grow food on a vertical farm, you have the chance of completely cutting down on the need to invest in pesticides. That is because your farming is practiced in a controlled environment that prohibits the entry of pests.
Limits Occupational Hazards
With indoor farming in place, no farmer is exposed to the hazards associated with using heavy farming gear. They are also well-protected from a range of ailments like malaria, issues from harmful chemicals, and the likes of it.Since this mode of farming does not affect trees and animals around inland zones, it is also an excellent way to promote biodiversity.
Larger Produce
Probably the biggest benefit of vertical farming is the fact that it helps produce more crops in general. As we already know, this mode of farming enables cultivars to produce crops consistently in a small area. Interestingly, it also boosts the amount of produce.
What do you think about Vertical Farming, do you agree that it is the future of farming really?
https://www.conserve-energy-future.com/advantages-disadvantages-vertical-farming.phpRight now here in country there are still a lot of land that is enough for agriculture, but there are people choose to do the vertical farming. Vertical farming is a good idea. The problem with agricultural land farming is the capital that will be used by the farmers to be able to grow their crops. Since I am living in a not so progressive country, the farmers need enough funds to be able to purchase crops and grow them. Other farmers are waiting for the aide of government to help them in their farming. As i heard there are government projects that gives the farmers seeds and seedlings to be able to start farming. The benefit of vertical farming is can help produce more crops and also it can save us from using any pesticides because the surroundings is under our control. So i agree in the future of Vertical farming. |
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To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
That is true to make a living we must work. Doing a side job or business can add up as a source of income for us. Nowadays we do need to have a side jobs or a business to be able to cover up all our expenses. Because if your source of income is just your salary i am sure it is not enough to cover your expenses unless you have a good salary. Despite of unfavorable circumstances i would choose to have a side jobs because having a side job could add up to our extra income and with that i don't need to worry where should i get extra funds to be able to sustain my daily needs and my family needs. |
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I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
That is true we must be cautious with alt coins. There is no guarantee that if we saw the coin pump to 100% within 24 hours and invest on it we will gain profit. It is very risky to invest in an alt coin that was being pump to 100% because it might declined dramatically or doubled the 100%. That is why the quick rich attitude often mess up with investors. Crypto currency market is very volatile in a blink of an eye you might loose all your investment. So think twice or thrice before investing in your chosen crypto. |
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Stocks give like 20-30% returns in an year but bitcoin and other crypto coins can give this much return in just one day. At such, do you think that increasing popularity of bitcoin has reduced interest of people in stocks.
I think in some countries, people are really shifting to crypto only and most of their investment portfolio is in the form of crypto instead of stocks. The awareness related to crypto is increasing day by day and this more people are getting included in this crowd. Stocks on the other hand become saturated, people have realized that these stocks are not as much profitable as bitcoins. Also, there are other benefits of bitcoins like it can be used for transactions. This cannot be done with stocks.
I agree with you in some countries people are shifting to crypto because most of stocks now are moving downward a couple of years now and other stocks do not move that much compare to crypto currencies. A lot of people now are more interested in investing in crypto currencies because of the possible rate of returns compare to stocks. As i can see that a lot of stocks now in the market are stagnant and the profitability rate is very low. Crypto currency is a high volatility asset but if you have invested at a low price at the right time the profitability is very high. Most people now are aiming good enough profit but of course the investors should enhance their knowledge about crypto currencies to avoid such a big losses. |
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Base on one of my recent post titled"Common Money Mistakes Anyone Can Make"( https://bitcointalk.org/index.php?topic=5448160.msg62062701#msg62062701). One of the serious point there is SPENDING MORE THAN YOU EARN. I believe this should be discussed as a separate topic as it's a very crucial part of ones financial life. Spending more than you earn make ones keeps accumulating debt from expenditure before getting income. This isn't good for ones financial life. With this you hardly save money but keep accumulating debt. It’s better to avoid debt if you can. That way you’ll avoid paying interest on what you owe. Below are ways one can easily stop spending more than you earn: 👉👉 Create a Budget (or Improve Your Existing Budget)99% of the trouble that people have with money isn’t that there isn’t enough of it but that there is no plan for it once you actually get it. Your budget (either weekly or monthly) should consider your income and your expenditure. Guide your spendings for the week or month with the budget made. This might be hard at first, but having that extra cash in hand, definitely worth the effort. 👉👉 Use cash onlyShopping using card look more convenient and most time encourages you to buy unnecessary things even out of plans. I really observed I spend more money(even more than 20% of my salary) on airtime only any month I load airtime directly from my bank account through USSD. This is so convenient that immediately I exhausted my airtime when calling, I just dial the USSD code to get another. This doesn't help you financially. You get to stop. Knowing your Credit and Debit Card Number offhand isn't helpful for you. It makes you shop unnecessarily online. Using cash-only envelope budgeting system can help you minimize your spendings and sticks to budget. 👉👉 Shopping with a listThis is a lifesaver and a game changer. It’s so simple! Literally, all you have to do is write down what you need in the house that week. Make the list, and stick to it. If you only need to get chicken and vegetables and some pasta at the house for the week, there’s no reason for you to be going to the snack food section. It’s a trap! 👉👉 Control your grocery listHaving meal plan can help you minimize your monthly expenditure. This helps you to stop spending money unnecessarily on food without depriving yourself of your favorite treats. This will also help you to plan your week without any worries and give you the insight of all what you need from the store. 👉👉 Learn to say “no”Not all goods worth buying at the moment. Although ads may be tempting but one should learn to go off any unnecessary items. Reference: https://www.pnc.com/insights/personal-finance/save/how-to-stop-spending-money.html CONCLUSIONIt's good for one to satisfy his/her desire when making purchase of items but this shouldn't cause issues in ones lifestyle. The key to stop spending too much money is to create better money habits in your daily life. But I know that’s easier said than done. Putting one or all of these ideas into action, helps in building a healthy spending habit. Take control of your spending today and you’ll reap financial rewards for years to come. That are good ways to easily stop spending more than you earn. In the current situation of our society now with the inflation and recession around we need to be wise in spending our money specifically our needs. We need to be practical in spending because the huge price increase in our daily needs is no joke, I know a lot of us experiencing that price increase in food, utilities etc. Before we buy anything we should think first if it is a need or a want. If we will be wise in spending our daily needs we can avoid borrowing or applying for a loan. To be able to do that we need to have a control and discipline within ourselves. If your friends do have a high standard of living then we should not go with the flow because it would cause us a problem overtime. The list you had provided are good ways to control spending. Creating a budget, use cash only, shopping list, control the grocery and the best part is learn to say "NO". |
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Luxury watches at the top end of the market can be considered as an alternative form of investment. While I don't possess extensive knowledge about watches, my understanding from available information suggests that reselling them can yield a substantial profit. The return on investment for luxury watches tends to be quite satisfactory. Prominent examples of such watches include Patek Philippe, Rolex, and Audemars Piguet, some of which have a waitlist spanning two years. Most of these watches tend to appreciate in value.
However, the worth attributed to an item is typically influenced by its demand and supply. While I believe that owning one or two high-end watches, provided they are well-maintained, may outperform stocks, gold, and real estate, it's worth noting that their appeal may diminish over time. This is because future generations are increasingly gravitating towards other interests, such as bitcoin and other emerging trends. If given the choice, would you prefer to own a luxury watch or invest in bitcoin, digital assets, gold, stocks, or real estate?
That is true that luxury watches could be a good investment because their value appreciate overtime. But for me i would prefer investing in bitcoin because i can do trading anytime or i can keep it for a long time and i know that the price of bitcoin will appreciate soon with that i can take profit and reinvest again. I would also invest in real estate because the value will appreciate overtime, i would love to have my own farm with a lot of trees, animals, vegetable garden etc. Having a farm could save money because it can be a source of food, prices of food are getting more expensive nowadays and we need to have an option to be able to save. |
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I agree with you that recession in countries can be save by agriculture. As we all know that agriculture has the potential role in reviving a countries economy. Agriculture industry can be a source of employment and provide income to it's employees. Agriculture can be source of our foods, if we have enough harvest of fruits and vegetables the cost will be lower that is needed by the people, it could help us to save money in times of recession. Farming is a really good source of food and employment, it can also be a business opportunity to our local farmers.
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I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion
If you are well equipped with proper knowledge and understanding about investing in bitcoin, I think you are ready enough to invest. The only question is if ever can you afford to lose the savings that you have now? Because if you are not ready to lose that amount of money well definitely you are not yet ready to invest. Since you said you had been involved with Bitcoin for a long time now, for sure you know what strategy you will follow. The decision to invest or not in bitcoin would probably would be your personal decision, It would hard to seek for an advice then if you lose you will blame the losses on them. Be smart in making a decision make sure you are well equipped. |
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Next year will be my first bull run and have just been thinking about what will be best to do when it finally arrives next year.
Do you plan on just holding till an amount you are happy with or is it a good idea to try and trade altcoins whilst they are pumping to earn even more?
If will bullrun will happen next year I would definitely trade what i have been holding, i will take advantage to take profit. Then out of that profit i will wait for the market to go down again and i will invest again. That is the usual cycle of trading when the price gets high then take profit and when the price is low invest on it. Bull run is the best time to take profit from your investment. If you will take profit you might regret it if the market suddenly falls down after the bull run and you will have to wait again for a long time before you could recover from your investment. |
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as we know, many people suggest investing in bitcoin because the risk is not too high.
but if we look at the market there are lots of people buying altcoins, and to be honest I also like to buy altcoins but there aren't many of them, and it's still my biggest investment in bitcoin. and to be honest even though investing in altcoins is risky but I always want to buy and the reason is because of the high pumping..
and I want to ask everyone what is your for buying altcoins, is the reason the same as mine?
People are interested in altcoin is because of the possible pump and profitability they will be able to acquire. I disagree with you investing in bitcoin and other crypto currency is too risky. If you are not equipped enough knowledge you might lose all of your investment. Any investment has a significant risk. We need to do a research first before investing in cryptocurrencies because there are projects that would end up as scam and it is hard to risk your hard earned money. As an investor i like to buy also altcoins because of the possible profit that i will earn in short term. Many altcoins once they are listed the investors tend to pump and then dump the said coins to be able to take profit out of their investment. |
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