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1101  Economy / Economics / Re: Money is never enough! on: June 11, 2023, 01:41:28 AM
Think of when you hit a jackpot, and some cool cash slide into your pocket, you feels better and step up some pride and involved arrogance, you feel like you can buy the world with your peanuts lol, bro, I little shopping out of it can makes you look like a poor man again. There is this oil dealer guy in my community who happen to be hot market pro in the oil industry, he owns an oil well but this guy it gets to his head and start contesting for political power which he has lose twice now and the worst of it now is that the oil well is dried because suck the money into politics, loss everything. This money is never really enough, no wonder even the President of nations still fights to get money after office.
there are those who are really greedy for money so they try to keep getting money even though they already have a lot, but there are also those who are really honest about working but the money keeps coming to them, there is even the term "people are glorified because of money and are despised because of money"
it's not wrong to make as much money as possible because indeed in this era all people in the world are driven by money (without money how do you eat and meet your and your family's needs every day) but don't be greedy for that because everyone has been given their own portion.

I agree but currently, there is a need for money to meet the daily necessities. Both poor and rich people fulfill their needs through money but it is not right to be greedy for it. Greed is a bit more among rich people they try to get more even after having a lot of money greedy because his demand is high. He is never satisfied even they are never happy there has to be harmony with one's ability, surroundings, etc.

Money is kind of an addiction to rich people because they want more. Just imagine rich people will invest more in businesses to earn more money. If they have businesses, they will improve them, build extensions, etc., which means they want to earn more. Whereas the poor, no matter what they want, can't because their resources and money are too little and they can't afford it. That is why they stay where they are.
actually money is wanted by everyone but for the rich it is easier to continue to be able to increase their wealth with the money they have it allows them to continue to be able to do many things so that their wealth increases and it is inversely proportional to people who do not have much money.
the real reason people keep looking for money non-stop is because they want to fulfill all their desires and prepare for a better future, I think that's very reasonable and even all of us here may have the same thoughts.
but for the way it all returns to each other, there are people who are greedy and there are also people who are just optimistic, all return to the personality of each human being.
That is really the life; it is easy if you have money, meaning if you do have money, you can make more if you handle it well. That is why it is easy for the rich to earn more money, unlike the poor, who without luck and hard work can get to the life that they want. That is really the life; we should just do our best to live. Also, there are really people who want to fulfill their desires, and others just want to have a simple life, like eating three times a day and having their basic needs met, but again, there are greedy people who don't care about someone; they care about money.
1102  Economy / Economics / Re: The Role of Education in Financial Literacy on: June 11, 2023, 12:34:26 AM
How to Equip Yourself with Essential Knowledge to Succeed in the World of Cryptocurrency

Your opening post is on a very interesting and important topic which is also being debated worldwide. In my opinion role of education is vital for shaping up individual's Learning fundamental theoretical principles plays crucial role to understand underlying concepts and enable us to implement them effectively in real life.  However, practical on hand Experience is equally important to apply your learning to achieve tangible and realistic results.  
People say education is not important for your success but they forget this fact that its not all about success education is important for your self growth and grooming  it helps you to widen your mindset and thinking and teaches you about different techniques that can be used in different parts of life .
So for financial literacy education is extremely important to get the best of everything.
Education is very important and there is need for us to get educated because this will help us when we want to join politics so we wouldn't be see as someone that do not go to school. Becoming education do not guarantee our success but we need to know what we are doing so that we don't get wanted for crime.
Education makes you are better person though but no doubt there are some educated people who would stab you in your back and would be the worse person you have ever witnessed in your life.


Even some educated person are not good people I mean they tend to criticize lower than them which is really bad but again other people has no morale to others which I dont know why but education really teaches all aspects in our life except how to start a business or earn money in real life as we just taught to have a 8-5pm job and repeat the cycle because thats what they teaches. When it comes to financially they are really into savings which teach us how to save , manage and somewhat how do we spend it.
1103  Bitcoin / Bitcoin Discussion / Re: Do you feel bad while paying with BTC? on: June 09, 2023, 04:07:56 PM

I don't feel bad but sometimes I'm having a strange feeling in my gut.
Everybody knows the pizza story so that translates to every other purchase you are doing as well.

Who knows, maybe next your bitcoin is at 100k, then everything I paid with btc was "overpaid" 4x.

I know that's some silly thinking because you should always see the current value but it's hard to not see it that way.  Grin

At least sometimes when you use your bitcoin and the price goes down you get a rewarding feeling, a feeling that you did everything right.  Tongue



Your perspective belongs to people that want to earn profit, which is the same as mine, but there are really people who want to use it as it was intended, like that pizza guy who bought pizza because of him. If he doesn't use it as a payment method, the chances are bitcoin will still stay at a low price. What I really meant is that there are people looking only for profit and not for other uses of it, and there are people who are really using it for what it is intended for, but again, only a few people are doing this as most of us want to earn profit from Bitcoin.
1104  Economy / Economics / Re: Will chatgpt really destroy the job market? on: June 09, 2023, 01:28:23 PM
I see AI as a powerful tool to support and enhance knowledge. They can provide insights, suggestions, and guidance when faced with a challenge. However, people still need to develop critical thinking skills, problem-solving abilities, and a deep understanding of concepts. So while AI can provide quick solutions and answers, I still recommend encouraging a holistic approach to learning. Because the learning process involves more than just finding the right answer, So anyway, you can combine the benefits of AI with active participation, hands-on practice, and peer-to-peer discussion to create a well-rounded learning experience that fosters critical thinking, problem solving, and effective communication.
Artificial intelligence can indeed be used to increase the insight of its users. or it can also be used in the world of work to simplify and increase the effectiveness of work. it's just that what many people worry about is that they are afraid that artificial intelligence will make the number of jobs narrower due to the potential for some professions to be replaced by artificial intelligence. Even some TV stations are already using AI to host or host their news shows. In Indonesia, the ONE TV station is also developing it and it is likely that in the near future there will be an AI presenter.

That is really the future that I am looking for or what we would see because of AI right now, and it is really keeping advancing, but I do hope that it will not be catastrophic in the job industry. I am sure, however, that it will create more jobs in the technology niche because businesses are adopting this and are trying to automate their tasks and easily and quickly feed information. I am also one of those people who is happy that AI exists, as it has helped me a lot in my work.
1105  Alternate cryptocurrencies / Altcoin Discussion / Re: What makes a crypto project reliable and trustworthy ? on: June 09, 2023, 11:21:23 AM
Imho project teams previous experience is the only factor that makes them reliable and trustworthy. No one would trust and invest in no-names. No one would give a lot of attention to a projects, whos team hasnt finished or abandoned their previous project. Only past success and results can show that crypto project is able to fulfil what they have planned. A project can promise a lot and aim to be successful, but if they have failed all previous times or have unexperienced team, they wont achieve anything.

This is really the best way to determine if it is trustworthy because we can see their past projects, and if they are successful or not, we can draw a conclusion. Just imagine if the team is new for you and has not proven track record; for sure, they are still not worthy unless they have really true intentions for the project. Then you are lucky. If the team already has a proven track record and their roadmap and whitepaper are good, then I think it's worth it, but again, it is not 100% certain that it will be successful, as it still depends on the team and investors.
1106  Economy / Gambling discussion / Re: how to get over it on: June 09, 2023, 10:11:09 AM
I’ve turned $1,000 into $100,000
I’ve turned $6,000 into $80,000
I’ve turned $11,000 into $550,000
and recently I’ve turned $4,000 into $90,000

With nothing to show for it…I’m a sharp sports bettor, but I always end up going all in. I can never be satisfied until it’s too late. I always need to go all in.

I’ve been reading comments from my last post (turning $4,000 into $90,000 and losing the entire $90,000), and I can’t help but feel like shit.

How do I get over the countless failures? I’ve been chasing the $1,000,000 dream for years.


People are really not content with what they have right now; just imagine your winnings; they are really big, and you can do a lot of things with them. For sure, you are addicted to gambling, as you said that you go all in. I think it is better to seek help. You are now betting big and winning at the same time, but you are still pursuing your goal. Just stop for a moment and think of your winnings and ask yourself, "Are you still continuing to do that method of going all in even though you are losing a lot? If yes, and you still continue, then you are really crazy.
1107  Economy / Economics / Re: Money is never enough! on: June 09, 2023, 09:16:15 AM
Think of when you hit a jackpot, and some cool cash slide into your pocket, you feels better and step up some pride and involved arrogance, you feel like you can buy the world with your peanuts lol, bro, I little shopping out of it can makes you look like a poor man again. There is this oil dealer guy in my community who happen to be hot market pro in the oil industry, he owns an oil well but this guy it gets to his head and start contesting for political power which he has lose twice now and the worst of it now is that the oil well is dried because suck the money into politics, loss everything. This money is never really enough, no wonder even the President of nations still fights to get money after office.
there are those who are really greedy for money so they try to keep getting money even though they already have a lot, but there are also those who are really honest about working but the money keeps coming to them, there is even the term "people are glorified because of money and are despised because of money"
it's not wrong to make as much money as possible because indeed in this era all people in the world are driven by money (without money how do you eat and meet your and your family's needs every day) but don't be greedy for that because everyone has been given their own portion.

I agree but currently, there is a need for money to meet the daily necessities. Both poor and rich people fulfill their needs through money but it is not right to be greedy for it. Greed is a bit more among rich people they try to get more even after having a lot of money greedy because his demand is high. He is never satisfied even they are never happy there has to be harmony with one's ability, surroundings, etc.

Money is kind of an addiction to rich people because they want more. Just imagine rich people will invest more in businesses to earn more money. If they have businesses, they will improve them, build extensions, etc., which means they want to earn more. Whereas the poor, no matter what they want, can't because their resources and money are too little and they can't afford it. That is why they stay where they are.
1108  Economy / Economics / Re: A steady source of income is a man's bottom line to support his family on: June 09, 2023, 06:45:48 AM
Being a family man without any income is not easy, especially if those income sources are unreliable.

Nowadays, finding a job is exceedingly tough, and even if you are fortunate enough to obtain one, you might not be able to locate a position that pays well.

Even though the compensation is modest, I would advise your friend to accept the job offer and to keep looking for a better opportunity so that he may immediately switch to it when he finds one with a higher pay rate.it is better to have where we are seen little than waiting for the opportunity of big one that is not certain.

it is very difficult to meet the needs of family life if you only expect from one source of income, if a man has a family then there are very many expenses that cannot be controlled and therefore he is required to be able to find additional income with whatever is possible.
for me personally, i try to find a job with steady income even if it's small and after that i try to make extra money in my spare time.
I do this to minimize the risk if I am unable to work, sick or other things then my family must continue to live.
as a man who has a family, he is indeed guided by many things to be able to make his family happy and one of the ways is to have a lot of money.
One source of income will only be sufficient if your job is high paying. But if you're a minimum wage earner that's not really enough to sustain the needs of the family. However, at the time of crisis that you're really in need of job to provide for the needs of your loved ones, this is not the time to be choosy. If there's an opportunity then grab it while looking for a better job. Because it's wise to have a small salary than to have nothing at all.

This is the reason why it's important to have a savings (while you're still earning) to have money in times of emergency. But we will only realize the value of saving (and investing) if we're at the point of our lives experiencing hardship and struggling financially because we didn't see this coming. So don't wait for it to happen, save and invest now, look for ways to maximize your earnings while you're still young and capable to work.



The problem with people is that if they haven't experienced it like mine, we've been struggling. When I lost my job and temporarily found a job with a very low salary, which was not enough, I was really regretting not having savings at that time. That is why right now I do always save, though it is only a small amount, so we still have extra money to spend in case we need it. But that is not my goal, right? You should be having a regular or secured job so that you won't get fired in the future. It is really best to save while at work because you'll need it on rainy days.
1109  Economy / Gambling discussion / Re: do you lose on slots? on: June 09, 2023, 05:11:59 AM
There are no smart gamblers in slot machines which are programmed exactly to take our money but in a gentle way.They don't take all our money by giving us 100% losing spins,they or most of them has an hit accuracy of 20-35% meaning every 1 in 4 or every 1 in 5 spins will be a winning one.The same logic goes to the people like myself who can't wait and go and play buy in feature/bonus games,the slot machine will give more losing bonus games than winning ones but it is the hope that in one of these winning one we will hit it big.Of course we win a big prize rarely and this is what keeps us coming back.

There are smart slot gamblers, they are those who can control themselves while playing it. The same as in most other gambling games, smart gamblers does exist although the number is low. As long as we know how to deal with all gambling situation wisely, we are smart already. Smart gamblers are not depending on what games they play, but more about how they play it in all related aspects such as emotion, money management, time management, etc.

Most of the gamblers that I've known are more casual gamblers than smart gamblers, meaning they play casual games on their free time and can  control themselves. It is not smart, but they know how to control themselves as they can play casually and are not addicted to gambling, which is why they always gamble. There are really a lot of gamblers that are addicted to gambling, but there are still casual players who gamble just for fun.
1110  Bitcoin / Bitcoin Discussion / Re: Investing doesn't guarantee you to be rich on: June 09, 2023, 04:12:58 AM
The title does not stand completely because there is nothing guarantee in the world mate specially in investing here in bitcoin .

and another point is? there is guarantee to be richer from what we are now but the problem is the time frame and in which we are investing.
but talking about bitcoin? lol assurance is there though it may tame some time before taking part.

Anything in the world, lottery, investment,or inheritance, doesn't 100% guarantee you'll be rich because that has a ton of factors that will make you fail or not succeed; it's just that you have a chance, even 1%, to get rich because of those, and that's the problem if you won't be grabbing that 1% to get rich. Those people who got rich right now, for sure, had their chance to get rich, which they grabbed and got lucky to succeed in life. Even investing in bitcoin doesn't guarantee it because of its volatility, but you have a chance to earn tons of profit after a few years.
1111  Bitcoin / Bitcoin Discussion / Re: What if they tried it on: June 09, 2023, 03:09:35 AM

Only a foolish country will never do the adoption.

Well I don't know how to say this but I guess you're Invariably calling  my country foolish 🤣🤣
Please pardon my emojies but I couldn't help it since it best describe how I feel writing on this because my country  and its government has been one of the greatest fighters of cryptocurrencies  and bitcoin and mkat times it seems the government  are so scared of the youth advancement  and as such they are scared of making free any opportunities that seems to make the youths of its country independent and I believe  you already know that's a typical  foolish act.

I'm not trying  to paint my country wrong but the truth must be told with hopes of a better country but for now, my government has been strongly against cryptocurrency.

If he says countries that don't adopt bitcoin are stupid. Not only your country but almost all the countries of the world are stupid because there are very few countries that accept bitcoin as adoption, only a few accept it. China is a good example of banning bitcoin, and I don't think they are a stupid country because they are the 2nd largest economy in the world. But the government is not afraid of the advancement of technology or the youth, what they do not want is that progress is not out of their control. They always want to control everything to ensure their power is not affected or lost.

They are not stupid; they are just scared of things that they can control more over, like money, and we know that the government wants to earn more money, like taxes. The more you earn, the more you pay taxes. Even the poor ones are still paying taxes from their salaries, which I know is for the development of the country, but again, there are a ton of corrupt officials that are just getting your money. Bitcoin is that they can't control it and can't easily track who holds huge amounts of it. That is why they banned it for now so that they could find a way to track those people and be able to tax you as well.

I love your point of view and thank you for bringing  up the issue with tax because I don't know why most times I feel my country is always the case study with most criminal  and corrupt cases because we're even taxed on a regular phone call and I still wonder how government helps its citizens 🙄
I stand corrected but I've heard of stories and news of America paying its citizens depending on the category they fall and I have no issues with such citizens been taxed not a country like mine where we have to do everything  by ourselves and still been taxed by the government and I agree that the government is scared that  its citizens might gain freedom if bitcoin  is been accepted.

I've also heard that in the US and Canada, but I'm not sure of other countries, the taxes that you are paying will be paid back to you when you are old or if you are struggling financially. When you lost your job and are still finding one, you are given a pension until you find a job. That's what I've heard in those countries, and also old people there are getting money, so that is why there are few beggars there as their government is helping their people, but again, they still pay tax for the good of the country and themselves also.
1112  Economy / Economics / Re: Social media, now looking more for business than for socializing. on: June 09, 2023, 02:11:55 AM
Social media has now changed like marketplaces, almost all social media contains advertisements from users, the presence of online shopping site platforms does have a significant influence, everyone uses it for selling so currently using social media is boring.

The ads make social media boring. The marketplace is also a good addition to social media as we can buy near-by stuff at a cheap price, but again, a lot of scammers are there as well. With the ads, most of the influencers are putting or embedding ads on their videos, mostly in gambling, which makes it annoying, and there are also ads everywhere in videos. What you've mostly seen in your timeline now is people selling something, and a lot of people will also like to introduce you to something. It is more business-oriented that anyone wants to earn money and not socialize.
everything has positive and negative sides, but let's be smart and wise in using social media and take advantage of things that are profitable and also make it easier for us, social media as a whole really helps us now to buy goods and stay on its main function, namely socializing.
I am now greatly helped by social media, I can easily buy the things I want, so I think it is very useful for me.

The reason why it was made is still there because, as I've noticed right now, I don't see people using their sim cards in my country or buying a load to call and text them; mostly, the conversation goes to social media if they want to call or chat with them, as they are more reachable on social media than calling their contact numbers, and still, we can see their faces if we want too. It will stay what it is, but it is just improved right now as they put in a lot of features. Even if I do want to eat something, I will just find it on social media to find it nearby my house.
1113  Economy / Economics / Re: Will chatgpt really destroy the job market? on: June 08, 2023, 04:19:55 PM
Concerns about job mobility and the possibility of AI replacing workers are understandable. As AI technology evolves, there may be a change in the types of tasks and jobs available, and certain roles may become automated. This highlights the importance of promoting education and skills development programs to equip individuals with the skills needed in a growing job market. Furthermore, it is important for policymakers, businesses, and society at large to prioritize ethical considerations and ensure that AI systems are designed to enhance human capabilities. people instead of completely replacing them. Ultimately, responsible and ethical use of AI is essential to ensure that the benefits of the technology are widespread and inclusive, rather than disproportionately affecting a few individuals or groups. certain.

That is why I don't see it as a threat to my job; I see it as an innovation. I am the kind of person who is lazy and wants to automate those tasks that are boring and repetitive. I've been using it right now, and I've developed my own script to automate specific tasks, which also buys me time for my job. Either I go on social media or play games a little while the script is running. What I really want to point out is that it makes your life easier and can become your buddy in your task, as it will do almost everything for you.
1114  Bitcoin / Bitcoin Discussion / Re: What if they tried it on: June 08, 2023, 01:36:14 PM

Only a foolish country will never do the adoption.

Well I don't know how to say this but I guess you're Invariably calling  my country foolish 🤣🤣
Please pardon my emojies but I couldn't help it since it best describe how I feel writing on this because my country  and its government has been one of the greatest fighters of cryptocurrencies  and bitcoin and mkat times it seems the government  are so scared of the youth advancement  and as such they are scared of making free any opportunities that seems to make the youths of its country independent and I believe  you already know that's a typical  foolish act.

I'm not trying  to paint my country wrong but the truth must be told with hopes of a better country but for now, my government has been strongly against cryptocurrency.

If he says countries that don't adopt bitcoin are stupid. Not only your country but almost all the countries of the world are stupid because there are very few countries that accept bitcoin as adoption, only a few accept it. China is a good example of banning bitcoin, and I don't think they are a stupid country because they are the 2nd largest economy in the world. But the government is not afraid of the advancement of technology or the youth, what they do not want is that progress is not out of their control. They always want to control everything to ensure their power is not affected or lost.

They are not stupid; they are just scared of things that they can control more over, like money, and we know that the government wants to earn more money, like taxes. The more you earn, the more you pay taxes. Even the poor ones are still paying taxes from their salaries, which I know is for the development of the country, but again, there are a ton of corrupt officials that are just getting your money. Bitcoin is that they can't control it and can't easily track who holds huge amounts of it. That is why they banned it for now so that they could find a way to track those people and be able to tax you as well.
1115  Economy / Economics / Re: Social media, now looking more for business than for socializing. on: June 08, 2023, 12:00:54 PM
Social media has now changed like marketplaces, almost all social media contains advertisements from users, the presence of online shopping site platforms does have a significant influence, everyone uses it for selling so currently using social media is boring.

The ads make social media boring. The marketplace is also a good addition to social media as we can buy near-by stuff at a cheap price, but again, a lot of scammers are there as well. With the ads, most of the influencers are putting or embedding ads on their videos, mostly in gambling, which makes it annoying, and there are also ads everywhere in videos. What you've mostly seen in your timeline now is people selling something, and a lot of people will also like to introduce you to something. It is more business-oriented that anyone wants to earn money and not socialize.
1116  Economy / Gambling discussion / Re: Do you take Part in Gambling Lotteries ? on: June 08, 2023, 10:56:58 AM
Am done with lotteries, no matter how many times I had tried it's only seem like a bad luck for me. Lottery is believed to be cheaper to get involved in or participate compared to casino gambling but the luck to win in lottery compared to casino gambling is very slim if not near impossible looking at the number of persons that participates in a single lottery. But for casino gambling you could be sure of winning at least a single wager out of ten times bets, only that casino gambling takes much money out of the pocket than lottery does.

The two are different things, when you gambles it's entirely different from taking chances on lottery, base on my knowledge about lottery, it can comes in any forms, you don't have to make use of your money in applying, some are government backed lottery with their criterials, but just as you've mentioned that the opportunity there is vert weak because alot number of people applied but few were selected, but everything is by choice and interest, if we so wish to gamble we fan go for it or combine the two altogether.

There are also times that the winner is somewhat selected; I mean, it is not completely random, but this is only at casinos that I've played before that are really fishy. But if the lottery is free, like every bet in your casino, you'll have free tickets to the lottery, then that's good, but having intent to play it, I think I won't also, as this needs luck. But if, like, I do lose my money on the casino and I do have like spare money to buy a ticket, then I think I would try my luck, but again, I won't be expecting to win as the chances are very low.
1117  Economy / Gambling / Re: Top 50 gambling Instagram & TikTok accounts on: June 08, 2023, 09:56:47 AM
These channels or influencers is  their content really gambling alone? It is not like others that have their own content, then they are just putting it or inserting it because that is what I've noticed mostly with those influencers; they've just put hastags, links, or embedded some videos on their content. Also, I think in TikTok gambling is not allowed, or I've just missed it, so for sure these accounts are not really solely for gambling.
1118  Bitcoin / Bitcoin Discussion / Re: Bitcoin or banking investment? on: June 08, 2023, 08:57:20 AM
It's simple, Bitcoin and banks are both investment options, but they have different characteristics. Bitcoin has a high potential return but comes with a higher risk due to its volatility. On the other hand, banks offer more stability and security but usually provide lower returns. If you prefer the potential for high returns and are comfortable with risk, Bitcoin may be an option. However, if stability and security are your priority, traditional banking may be a better fit.

Strictly speaking, it is impossible to say better banking or better bitcoin, it depends on our needs and desires. If we are willing to take risks in search of higher returns, then bitcoin is clearly a perfect choice. But if you do not want to take risks and are satisfied with low interest rates, banks are the choice. But why don't we choose both? No one forces us to choose only 1, and if combining the two is both safe and can be hugely profitable, why not?

Banking investment is really the traditional one, mostly. I've heard this is from those people, like old people, who are going to like time deposit their money, and they said they really gain profit, but again, we know it is low, but they take into consideration that it is less riskier, which is true. But when bitcoin arrived, mostly those in Gen Z, I've noticed they want the riskier one, like investing in bitcoin. You are right, we can do both as long as we know the risk, and this is better so that if one fails, you still have backup funds.
1119  Economy / Economics / Re: Why do people stay poor? on: June 08, 2023, 06:47:14 AM
I think things that can make people still poor and difficult to get out of poverty are poor mindset, poor mindset such as lazy, afraid of risk, do not want to work hard, wasteful, consumptive and so on, many people spend $ 500 per month while monthly income is only $ 300 so He owes $ 200.

That is really the problem for some people, as they will borrow money and then get into debt that they can't pay off. This is really the main reason, but still, there are a lot of people who are working hard, but again, the opportunity doesn't come to them even though they work hard. Education is also one of the reasons you won't get a good job or a high salary, which is why you only earn a low salary. Another factor is that there are a ton of children, or you do have a lot of children, even though you are struggling and not thinking of the current situation.
1120  Economy / Economics / Re: Is taking a loan/debt addicted ? on: June 08, 2023, 04:20:37 AM
Taking a loan can lead to addiction but not in all cases, there are so many investors today, who borrow money to finance the project after that they will pay the money and keep the profit from the business. The loan itself is not bad, what is been taken or used for is what matter.
It all really depends on what goals you have when applying for a loan. If it's for a business where we are sure of the level of success of the business to be run, maybe taking out a loan can actually help the business more and get maximum profits. it's just that if the initial intention of making a loan is only to fulfill desires such as buying luxury goods or the latest car or the latest cell phone and the like which are actually not for business needs and other urgent matters then all of that is really not good and it's better not to take a loan for all that. so basically it all depends on the particular situation.

But there are really people that are doing this; they are saying that it is a gift for themselves, but in a year they bought tons of expensive stuff. Also, there are people who take out loans just to pay their debts, which is also not good, but again, that is their choice, as life is really difficult and once they take out a loan, they can't get out as it will pile up, and then the source of income is not enough. Not all will take a loan for business; there are people struggling in life, which is why they don't have a choice.
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