I told you guys before and I will tell it again. Unfortunately, we are STILL expecting the bottom. If we will look at the inflation, what FED is saying, and the economic situation in general, it looks like something will break down soon. Everything is still kinda bad and it won't get any better until FED will start lowering rates.
So I still recommend everyone to not go all in on bitcoin or any crypto until we will see signals that the economy will get better from now on. DCA is still a good idea like always, but be careful when you choose at what price to start DCAing.
Be safe, bros.
I just noticed that the market has crashed again; I hadn't bothered to check for over 3 to 4 days. I also supported your opinion until I saw Bitcoin trending at $25,000, thinking that it was unlikely but not impossible to go below $20,000 again, but I was certain that it wasn't over. Now, I'm positive that there's still a possibility to see a new bottom for Bitcoin. The economic situation hasn't gotten any better, and inflation is still soaring around the world. Whether we like it or not, we still have a long way to go before we can expect a possible recovery; one or two years is the bare minimum. |
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Saving money should be done by default, not only when financial/economic problems arise.
Don't solely stick with saving money though; attempt to increase your income by having side jobs/businesses/gigs. Growth from employee wages take a crap ton of time and effort for it to increase.
Exactly. You should have at least half a year's worth of salaries for emergencies, not to mention a whole year to be on the safe side. Saving is vital if you wish to have purchasing power at any moment and have money set aside for emergency purposes. Thus, it's important to have various sources of income, which could be a side job as little as being paid by signature campaigns; that way, you'll still have a flow of money supposing you lose your job, like the OP mentioned about his acquaintance, which will provide you with some peace of mind till you can find something else. |
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They're different kinds of investments, but it's impossible not to see some similarities. None of them guarantee to yield profits, even though history has proven that Bitcoin always recovers. The S&P 500 index also shows similarities with Bitcoin's chart, but does that guarantee that it'll keep increasing in value forever? The exact same thing applies to Bitcoin. As you've said, Bitcoin is likely to pay off in a few years; stocks of reputable companies will also do that but also provide you with a steady flow of income throughout the year. |
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Investing in dividend-yielding stocks can definitely be a great move, but people forget that they need to actually pick ones that will end up performing well business-wise. Having stocks that give great dividend yield doesn't mean crap if the stock price is on a downtrend and if the business is slowly but surely dying. This is something that Warren Buffett did pretty well with Coca-Cola: https://twitter.com/DividendGrowth/status/1630613809839718400Exactly. Picking out the right stocks for dividends is really important. But what happens when a business decides that the dividends need to be slashed? Its impossible to predict, just like its nearly impossible to predict a good stock with 100% accuracy. So it might be a fools errand to expect yourself to do as well as Warren Buffet did with coca cola. He just got lucky. And even then the dividend game takes years. It took him 35 years to earn those dividends. If he invested in Bitcoin during one of many times in the past when the price was low, it would have taken him less than a year. It's still a risky investment which won't guarantee stable income along the time. It depends a lot on the currently moment and tendency of the economy. Investors have to be active watching their assets, because at some point it might be necessary to sell them in order to invest in another tendency. Few assets have solid and constant returns on long term and these aren't highly profitable, anyway. Thinking this way, bitcoin doesn't look a bad idea, because you don't need to spend a lot of your time on it. You just acquire your coins and keep them held at a safe wallet, and that is all. No hurries are needed. The only cons is the passive income aspect, although the profitability on long run must overcome any passive income assets' investments offer. Comparing two completely different things is pointless. You can't compare staking with dividends, nor stocks with Bitcoin. While they do share some similarities, they are completely different things. On top of that, there's never a guarantee, neither in receiving dividends nor from staking awards, since the market is quite volatile in both cases and the returns may vary. Bitcoin also isn't a comparable investment; it's an asset that doesn't yield steady returns. You're claiming that it doesn't require too much effort, but results aren't guaranteed either, while it may take years to pay off. |
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Crypto staking gives you a fixed IRR but investing in dividend stocks give you varied returns over a period of time. I am always in favor of getting the best of both worlds. That's why my monthly investments are divided between crypto, stocks, mutual funds, Paper gold and insurance payments. So when one sector goes down, the other sectors can support my investment.
There is a trick to pick up good dividend paying stocks. From the exchange data, see the companies where they have stakes from government. Government invests in companies for dividend income. So when you will see investment from government, go ahead and buy them. Dividends will be guaranteed!
Cryptocurrency staking doesn't guarantee you a fixed APY as it constantly fluctuates. For instance, even the fixed APYs that Binance was offering were reduced after their expiration dates. I'm also a bit disappointed regarding the APYs that are offered through staking now. Stocks that pay dividends are a great way to earn a semi-passive income, but you also need to track your portfolio; stocks aren't to be left without monitoring. I was actually considering investing in a company by purchasing a few shares in order to generate a small passive income from them as well as sell them when the market situation improves. |
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There are quite a few scams going on through social media, ranging from signing up on fake exchanges to social engineering you into sending them your coins after luring you and registering on a valid exchange such as Binance, making the scam look legit. Anyone who contacts you through social media and promises to teach you their money-making method with excessive returns is pretty much a scam. Don't reply to any message and report their profiles; it won't stop them, but it might at least slow them down.
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Elon messed with the cryptocurrency market a lot during that period. Except for the pump of Bitcoin he caused, he also caused a lot of fuss with Dogecoin, which exploded right after his tweets. If he was messing with stocks, he would have been prosecuted now, but cryptos are unregulated, and he's free to do as he pleases. Although his tweets don't have the same manipulation power anymore. You missed the part with Elon Musk as he manipulated the stock market and caused rapid shifts in the market and once that became a regular thing for Elon, he was charged by SEC for his tweets that had a huge impact on the stock market and then he shifted his focus on the cryptocurrency market where he was successful in causing huge rallies in Doge even the developers did not anticipate  . That's interesting; I had no clue that he had actually manipulated the stock market. That explains why he proceeded to manipulate cryptocurrencies. Since he was already charged once, he couldn't risk repeating the same mistake and thought it'd be fun to mess with Bitcoin and especially with Dogecoin, which was the absolute troll. Unfortunately, many people followed him and potentially lost money, while others may praise him because it was an opportunity that some took advantage of. Even after it dumped, he continued making dumb jokes regarding Doge, such as the potential addition of Dogecoin to purchase a Tesla. I can't remember if he actually implemented it and then revoked it, but he's an absolute internet troll. |
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You are correct if you see FUD (Fear, Uncertainties and Doubt) from just one side, i.e the negative side. In a real sense the current price of bitcoin as I drop this post is $23,139.60 I want to buy $10k worth of bitcoin but I have fear that bitcoin may not rise above 24k till this month ends. I am also uncertain if the price will drop lower than 23k so that I can gain more bitcoin.
Then I put up a post in my blog of over 2million bitcoiners subscribers and say that bitcoin will crash tomorrow to $10k, then people panic and sell. I then buy lower in price and make a counter post that bitcoin will rise and people begins buying again. This is just how the industry moves and I don't consider it unethical. You that is in the industry should identify FUD when you see one.
It is called market manipulation and if you are invested and intentionally drive prices down by spreading fake news that is a crime in most countries. Elon Musk got accused of it when he bought into Bitcoin and then started back peddling a couple of weeks later some speculate that he is still privately invested in Bitcoin and used Tesla and his Twitter to drive the price down. Elon messed with the cryptocurrency market a lot during that period. Except for the pump of Bitcoin he caused, he also caused a lot of fuss with Dogecoin, which exploded right after his tweets. If he was messing with stocks, he would have been prosecuted now, but cryptos are unregulated, and he's free to do as he pleases. Although his tweets don't have the same manipulation power anymore. There are a lot of so-called analysts that may spread FUD, some deliberately and some due to their fear. As long as it's not intentional and based purely on their personal opinion and genuine fear, I'm fine with it. |
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There’s some ridiculous posts in this thread. Anyone who says college is a waste of time and money either never went, or went to the wrong one / didn’t make the most out of their experience. Now I’m not so sure that a graduate degree is really worth it for most professions or people, but a bachelors degree certainly is. I went to school for business and learned a ton about what it takes and how to run one. Im not saying you can’t be successful if you don’t go to college. You certainly can. But the majority of people benefit from the experience in a big way, in many ways. I’ll forever be a proponent of higher learning.
Thank you; I couldn't have said it better myself. I saw a lot of posts claiming that famous entrepreneurs never went to college or university, and it baffles me. Those who are actually successful are a minority; you can't represent the success stories only; for one success story, there have been hundreds of failed attempts. Personally, I completed a bachelor's in Economic and Management science and am close to finishing my master's degree in Digital transformation. One of the most important skills I learned was how to teach myself how to learn and acquire new knowledge, but I also acquired great information about entrepreneurship, startups, and businesses in general. |
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Building a new house costs a lot of money, even someone with a monthly passive income still chooses a bank loan to build a house instead of saving for several years, the basic items for building a house are increasing every year, but it is recommended that you keep saving for the purpose of building a house because we have to setting limits on rents for less than 2 years, Op has lived 4 years and spent $25k in rent which is equivalent to the cost of a new house for a minimalist size.
one should know that builidng house from scratch also require time, you couldn't immediately live in the house you should wait until it gets built first then you could live in that house afterwards, but where are you gonna live in the meantime? of course you'd be renting house for about 1 year and that's already massive waste of money. having second hand house is fine if it's relatively cheap enough and good enough, meanwhile you're collecting money for building your dream house, having temporary second hand house could also save you from the costs of renting since I think the price of the house rarely deprecating. There are also prefabricated houses that are built in significantly less time than conventional ones. They're usually cheaper too, and they offer great characteristics for their price. However, why would someone build a house from scratch when you can purchase an apartment for significantly less and be ready to move at any moment? In the worst-case scenario, you'll renovate it or make a few repairs. Personally, I've seen older houses with two bedrooms that are quite cheap to purchase, especially if they're not situated in the city center. With a renovation of the kitchen, bathroom, and windows and doors, you should be good to go. |
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Am having two bitcoin wallets, the first one is with the centralized crypto exchange, which i use occassionally for the exchange whenever i needed to spend in fiat while the second one is a decentralized bitcoin wallet with electrum, which is an open source cold storage for keeping my bitcoin over a long time, it serve the purpose of bank and i prefer it than using a centralized institution like bank, i have full control over my finances with the bitcoin wallet i use and get satisfied.
Since when is an exchange considered a wallet? Anyway, for Bitcoin, I've stuck with Electrum; it's a simple non-custodial desktop wallet, but I'm planning to purchase a hardware wallet soon enough. They're much safer and not expensive at all. I'm also using Metamask, where I keep my stablecoins and some of my BNB; the rest, which is a small amount, is on Binance. don't consider CEXs your alternative wallet. they are more prone to hacking and other fraudulent events as they are the target of most scammers or hackers. much better if you will use noncustodial wallet such as electrum. if you put some of your funds in CEX, you are subjecting your funds to unexpected circumstances such as hacking or abandonment of the owners from their platform. if you have your own keys, you can also pretty much sleep peacefully, knowing that you have full control of your funds. Centralized exchanges are fine in most cases and probably for a large amount of users too. Don't forget that they hold billions of dollars' worth of cryptocurrency, with Binance and Coinbase being the most popular ones at the moment. I'm not using them to hold funds there; I'd never store Bitcoin on a CEX for obvious reasons; I don't want to reveal how much money I have; but they're completely fine to use for smaller amounts, trading, futures, or altcoins. Personally, I have some junk altcoins stored there and some BNB. |
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Am having two bitcoin wallets, the first one is with the centralized crypto exchange, which i use occassionally for the exchange whenever i needed to spend in fiat while the second one is a decentralized bitcoin wallet with electrum, which is an open source cold storage for keeping my bitcoin over a long time, it serve the purpose of bank and i prefer it than using a centralized institution like bank, i have full control over my finances with the bitcoin wallet i use and get satisfied.
Since when is an exchange considered a wallet? Anyway, for Bitcoin, I've stuck with Electrum; it's a simple non-custodial desktop wallet, but I'm planning to purchase a hardware wallet soon enough. They're much safer and not expensive at all. Perhaps splitting your balances into two wallets adds a second layer of security but I'm not sure if it's actually worth it. I'm also using Metamask, where I keep my stablecoins and some of my BNB; the rest, which is a small amount, is on Binance. |
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According to today's news that I have read, it seems that the EU will not adopt this law after all, because Germany and Italy are putting a lot of pressure to prevent that from happening. Of course, these are two countries that have a significant share in the production of cars, and such a law would have a very harmful effect on their economies. This does not mean that the share of electric cars on the roads will not increase, but I do not believe that such a ban will come before 2050.
2030 is very early to make a ban on petrol and diesel cars. This will affect the countries that depends on car production for their economy as well as the countries that depend completely on the oil market for their economy. Every car company have begun to have their electric vehicle production unit as well as R&D, and for the reason the regular car production isn't decreased. So, we can experience the increasing usage of ev, but the same won't affect the petrol and diesel car usage for atleast 2 generation. They started off claiming that the ban on the production of cars with internal combustion engines would take place in 2030; now they've moved it to 2035, and chances are, it will be postponed again. However, even in 7 years from now, there will be a wider variety of electric vehicles, and more people will opt for them since they will be cheaper by then. Moreover, most European countries still don't have the facilities to accommodate a higher demand for electric cars. The transition will take time, and they will become more popular as time passes. Even I'm convinced that my next car will be electric in a few years, but a complete ban on ICE cars isn't feasible anytime soon. |
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I'm sorry, wasn't your cousin informed about the fees and the exchange rate beforehand? Why would he proceed with such a high purchase price? I'm not sure about other countries, but ATM fees are also excessive here, but this is outrageous, daylight robbery. If the exchange rate is so bad, what's the point of using an ATM? I'd rather pay taxes than lose so much money for absolutely no reason. This is the main reason people are reluctant to give up on exchanges: almost every other option isn't as convenient and usually costs more than it should.
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I wish it was only observed on Twitter. They are everywhere, on every social media platform, from Facebook paid advertisements to YouTube or TikTok. You can't avoid them. Unfortunately, some people are rookies and are easily lured because, when you're inexperienced, you're unsure where to look for information. Thus, you end up with the wrong sources, and you're likely to be screwed over. Other so-called influencers are practically Mr. Know-It-Alls and pretend they know everything, but in reality, they're completely ignorant.
There are surely some worthwhile ones out there that will try to analyze the market and the situation and at least attempt to come up with a conclusion. I generally don't follow anyone and stick to my own research and instinct.
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What about hydrogen cars ? Where are all those inventors, that have created vehicles that runs on water? Nearly 3/4 of Earth is covered with water. Plenty of "fuel" for everyone. Toyota Miria I think is the only car that run on "water". Why this idea did not go to masses? I think it will be easier and quicker to fill car with "water", than charge electro car. However, even though hydrogen cars sounds like free or cheap fuel, I think people would still prefer diesel or petrol because of the exhaust sound. The roar is what helps to sell cars.
We haven't seen many hydrogen cars available, though, have we? I don't believe that they will be widely adopted while there are only a few companies that support hydrogen vehicles. Even Toyota is starting to pivot and switch to electric cars. There are quite a few articles out there, one of which admits that the new Tesla Y is a work of art. Moreover, not long ago, I remember reading that they're about to launch a new electric car range. Thus, I find it quite unlikely that we'll ever see a full range of hydrogen vehicles available to the public. |
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Coupons and promo codes Am I the only one who hates those? We've had "bonus cards" for years, and once in a while coupons to use or stickers to collect. Now more and more supermarkets are switching to apps to give you discounts spy on you and give you notifications. I really hate the fact that they overprice items, unless you join their marketing scheme that's designed to tie you to their shop. The German LIDL is known for drowning you in these coupons and they're not that great. I have an app in my phone that gives me all these coupons every week and I sometimes wonder i I really want to waste 10 minutes of my time going through them to find that one thing that I could buy 10% cheaper. Stores are also known for bringing prices up to later cut them down with these coupons. They sell a bottle of beer for 1.6 EUR, then bring it up to 2 EUR for a week or two and down to 1.5 with big 25% discount label, but really it's just 5%. I sometimes use the 2 for 1 discounts they can be a bargain at times, but they usually do that to products that are about to expire. We also have the exact same application in Greece. I've had some decent coupons in the past, but most of them don't actually interest me or are completely irrelevant. Couponing is extremely popular in the USA, but in Europe, I can't say that I've seen it in practice. There's a company here that distributes coupons, but they are limited to specific companies, and I've never bothered to investigate any further. Generally, it's not a popular practice in Europe, but I've seen videos going overboard in the USA (not sure if they're fake or not). |
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Personally, I'm not sure if I'd use Bitcoin as a means of payment. I've used it in the past, but it's way too valuable for me to use it. Businesses, however, could use it as a way to promote not only cryptocurrencies but themselves as well. This move could potentially attract cryptocurrency users and open up a new target group, promoting its growth. As I've already mentioned, I wouldn't use Bitcoin to make purchases, but I would visit a café or restaurant that accepted it in an effort to promote cryptocurrency-friendly businesses.
Thus, accepting cryptocurrencies would be beneficial for both sides.
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~Snipped~
Inflation is global, but some countries have been affected worse than others. On top of that, the inflation numbers don't include the raging petrol and electricity prices, both of which are a huge burden. Supposedly, the average inflation rate in Europe is approximately 8.5%, while in my country, Greece, it's claimed to have slowed down to 7.2%, which can't be accurate since the price of groceries keeps increasing. Unfortunately, the statistics that come up with inflation numbers are off, since there's a huge number of basic necessities that have almost doubled in price. |
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Whether this story is fake or not, it has been mentioned before that unnecessary bragging may pose such risks and render you a susceptible target. Of course, this doesn't only apply to cryptocurrencies but to money in general. There's no need to pose your money and success on social media; you're never exactly sure who might be watching you and how robbers are using them to track down people with wealth.
On the other hand, I don't understand how they accessed his wallet; what kind of support did they contact? Why was he using an online, centralized wallet?
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