I had a talk about Bitcoin with my brother two days ago, he said that he have interest in buying Bitcoin but the price is dropping, he asked me how lower will Bitcoin go? I told him that I don't know and he said that when it starts rising again he will buy, you see, no one wants to buy Bitcoin when it's dumping, many people still prefer to buy when the FOMO is back in the market, no wonder lots of money swim into crypto when the bulls are back and the truth is some people are still able to make money after buying at high price, but they won't make a lot compare to those that bought at lower prices, it seems that higher price and fomo gives some people the confidence to buy more than buying at lows because they fear it could go lower.
So this also means that people will buy at 100K mostly when they see a bull run, which means that on green days people are buying it, but on red days few are buying it because they are scared of going further down. That is really the problem with other people, as they don't treat it as a sale. Just imagine when there are sales at the mall; they are really buying it, and if the price goes back to normal, people wait for it. It is really the opposite in Bitcoin, as they are more buying when the price is high. |
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I've stored my recovery seed in a Gmail account I created years ago and someone somehow gets my password and stole all my Bitcoin, at the time I lack some knowledge about keeping recovery seed and that old Gmail had a weak password too, I also don't use or activate 2Fa authentication too, after I lost the Bitcoin I started researching on where I did things wrong and I learnt that recovery seed are not to be kept online, they are safer offline.
Not even any cloud storage are safe for your recovery seeds, there are some stories of peole losing their Bitcoin when few cloud storage platforms got hacked, for example 4shared and others.
Even though the website is very secure, let's say Google, hackers can still penetrate a person that has a weak password like you, which means it is our fault, but no matter if it is our fault that has a weak password, it is still better to make it offline because the tendency of making it online is that all accounts would be compromised, no matter how cautious we are, so it is better to prevent them by not putting it online so that you are now more focused on your offline security measures like putting it in a paper, engraving it, or buying a hardware wallet for better protection. |
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Cryptocurrencies are a very risky type of investment because price fluctuations are very high, a decrease or increase in prices can reach 2 digit percent so that we have to understand the risks that can occur, many people get stressed because of losses and sell assets to invest in cryptocurrencies.
That is why here we need insight regarding risk management in investment. I personally would of course choose to invest more in assets that have minimal risk. And only invest small amounts in assets that have big risks such as Crypto, especially Bitcoin. So that our mentality or psychology can remain calm when we see that our crypto investment has decreased in value. Because we only put a few assets there. Real Estate is the most dominating my investment assets. and maybe only about 10% are in crypto. And this is the only amount I can afford to risk. I agree with you, it is natural to have investment risk. And it can never happen that I will refrain from investing because of this risk. If you are making a short term investment in cryptocurrency. Then I would say you have nothing to worry about here. But you must be strategic when it comes to investing. With high volatility in cryptocurrencies, the higher the risk, the higher the reward If you don't take risks, then you won't be going anywhere because you aren't grabbing opportunities and just want to stay in your comfort zone. Though there are no problems with that, others and even I want to take risks to earn money or make my life better, like you want. Also, it doesn't mean that if it has risk, then we will be losing now. We should learn first or know how to listen to the risk because no one wants to lose their money. That is why we keep learning and finding strategies for our investment so that it will be successful. |
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I saw some post in this forum talking about kids with cryptocurrency. We all know that the "youth are the hope of our Country", this is what Jose Rizal said, known as a national hero in the Philippines before he died. So if we relate this with Bitcoin, kids has a lot of time, strength and potentials than Seniors, and I think most of you agree with that. However, we shouldn't force our kids to learn Bitcoin if they're not willing, we have to wait patiently for the right time. I saw a news saying that in " 2022 Crypto scams against seniors surged 78%", you might agree that one of the reason why these happened is the lack of knowledge in cryptocurrency. But a lot of seniors contributes to the success of Bitcoin. Do you agree that kids is the future of Bitcoin than with seniors? And which of them will contribute the most? Bitcoin is not like our community or our society that we can compare because youth are really the hope of the country. It's because they have the brightest minds that can invent things, build businesses that can help the country, and have out-of-this-world ideas that the older ones don't have. Whereas in Bitcoin, it is only about awareness; it is like those youths or kids know more or learn more about crypto or Bitcoin, and it is close to none that are getting scammed compared to this generation, as there are still older people adopting it without any knowledge, which is why they are getting scammed. I can only compare them with literacy, and I don't really see any development in Bitcoin (though, let's say, innovations), but Bitcoin is somewhat finished in developing. |
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I used to gamble (just quit it, never felt like going back), it made my mind restless. Even if you do it for fun, there comes a time when you feel like making income from it, it's just stupid.
But how? You are just lucky that you are not addicted to gambling, as you still have control over yourself, but others are really having a hard time quitting, as we know that they tend to come back on a daily basis, which for sure means they are really addicted to it. Even I could say I can quit anytime and have no problems at all as I am not a heavy gambler, but those who gamble on a daily basis will struggle for sure, and it is not easy for them, which is why they are asking for help from professionals. |
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when i am grown up, i have kids and wife now, i need to work very hard, to get a lot of money in the job. if i got a paycut, or i got fired, i am very scared to go home, i can't sleep well, my head is sweating, the memory of getting zero mark in a test keep haunting me like the nightmare, i need to go out and make a lot of money!!
Change this mindset because if you struggle and have problems at work like getting fired or a low salary, your wife should be the first to know about it so that she is aware, and that could ease your feelings, 100% guaranteed, unless you are a battered husband, which is why you are scared. As a family man, that is really the bad news and word that I don't want to hear ever coming from my job, but we can't really stop it. That is why we should be prepared, and your wife is beside you to support you, so keep your emotions high and find another job if necessary. What I only suggest to make more money is to find a job right now that has a high salary or upskill overtime so that you can find another job outside your current skill and earn more money, and then after that, start investing because, for sure, you still don't have money right now. |
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If you're given the opportunity to choose between being a rich investor with minimal knowledge and a knowledge guru with absolutely no money to invest,
Which will you prefer to be ?
It is a question with little sense, because if you have millions to invest and you don't have the minimum skills to manage them, then you will have to rely on a professional who manages your assets or you risk losing everything. While if you have the skills but very few funds you can always aspire to grow your savings. So I personally prefer the second option. That's likely to happen when you hire someone to run your investment as well as manage your money, and the difficult part is you don't know if the one you hired is keeping some money or cheating on you as you don't have knowledge.That is really difficult if you just have money but no knowledge, though others are really doing this, but at the same time they are going to school, so if they already learned, then that is when they take over. It is really difficult to rely on someone right now, and it is really better that you are the one doing it. |
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I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?
If there will be a bitcoin ATM in my country i will not hesitate to used it depending on the machine tx fee, for now i only use a digital wallet that convert my btc to our fiat, the worst thing is the tx fee it is very high and when btc pump the btc that we store on thay wallet is not pumping its stays the same and when the price of btc fall it also fall very quick. Its just like the we are a victim of a robbery. For sure, it is still the same fees with online exchanges as it is still back with something or it is lower than those traditional exchanges, but still, it is not that affordable to convert a small amount of BTC to our fiat. Though no matter the fees, I would also use it if it was more handy than using our phones to convert our BTC. Though you should always be careful with it, the same cautiousness applies when you are going to withdraw your money from banks. |
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This actually happens if there is a similar thread I'll lock this thread. My friend invited me for a round of drinks just last night to confess something, and that is his wife threatened to leave their house and file for legal separation because the wife just discovered that he's spending a lot of time gambling, she thought that he's just playing games but she discovered his logged because the idiot has his password in the browser, so the wife check his withdrawal and voila his losing a lot of money and she also discovered that he won big money in the past but didn't tell her. I guess that blew her patience for not telling his winning, so he threaten that he should stop gambling or they part ways, my friend choose his wife so he cannot play until he can convince his wife and promise her to tell her if he won big.  How about you have you been threatened by your wife, your girlfriend, or your parents, if so tell us your story. That is really the husband's mistake, and if he just told his wife about it, then for sure there are no problems with it. I am just glad that I am not like this, as my partner and I are always talking about it, and we are not heavy gamblers. It is just that we bet sometimes when we want it, but mostly when it comes to spending and earnings, we are really open to it and not secretive because both of you should be aware of it, and there are also no secrets when you are already married so that both of you are happy. |
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I'm really sorry to hear about your friend's tough situation. It's understandable that he's hesitant to take a job without proper benefits and stability, especially with his wife's health concerns. It's great that you're supporting him in his job search. One piece of advice I have is to explore alternative options like freelancing or remote work, which might offer more flexibility and potential for higher pay. Encourage him to network, update his resume, and consider any transferable skills he may have. Remind him to stay positive and persistent.
If he is inexperienced and has limited skills, it is really difficult to find remote work, but again, hardship and patience are really required, as you can't get hired in just one night unless you have outstanding skills. Also, one of the problems is that he has a family, and he needs money so that he can feed them, so he has no time to waste, and those choices of job he needs to take while finding another better job. This is not the time to be choosy; grab what you can and feed your family, then find another job that you want, and if you get hired, resign from your old job that you don't like. |
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Using a portion of your savings for investment is a wise decision because it will be beneficial for you in the long run and will provide you with an opportunity for growth and increased earning. This will also reduce your risk of financial instability. However, it is important to diversify your portfolio.
True, it is a good decision and there is nothing wrong, the most important thing is to manage it wisely, other than that you have to be prepared because investment certainly cannot be separated from risk, so that needs to be considered, that's good advice by implementing a portfolio diversification strategy. If you really want to earn profit or extra income aside from your salary, then taking a risk with investment is really best, but again, before that, you should have extra money on it, or else you won't be able to save and invest. That is why you should manage your money well, like don't spend on nonsense stuff and also don't go over your budget because you'll end up ruining your budget plan. But again, no matter what our plans on budget are, if your income is too low, then that is really difficult, so it is better to find a way to earn money, or if you receive work bonuses, then that is a good for investment. |
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We could say it is a good strategy because it makes it trending and gets a lot of people talking about it, even if it is really nonsense stuff. Just let's take an example of the recent trend in our country, where there are celebrity boxing matchups as well as a lot of trash talk happening online, which makes more noise on social media as it attracts more bashers and other people. Even though there are more bashers than fans, it is still successful because bashers make fun of it while still spreading the word about it. It is also a plus for them that they are celebrities and known people because the reason for it is really the fight and it makes them generate more profit.
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Each issue of good news and bad news about crypto always pop up first on social media and it's not only Bitcoin, including Altcoin was made impact on situation of market and we can see war issue between SEC and Binance. But what i see hype of cryptocurrency only we can see on twitter there are platform the real decentralize who can impact price of Bitcoin and Altcoin, i remember when Elon musk tweet about crypto it's really something new due to He is can manipulate each price on the market
Even influencers tell their followers to buy those altcoins, and those who follow the influencers will also buy them. Social media is really powerful in business aspects, even in Social media, as this is where they spread news and awareness of it. You are right, there are groups not only on Twitter that are kind of manipulating the price, but not on Bitcoin; it is on altcoins, where they just know each other online. |
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Just wondering why there are some inventors already develop solar energy engine for cars yet they are not supported by big company? Is just because of benefit they gain from big oil companies? Also, there are also study that water can also used to makes car move, why not try to invest from it and it will make a lot of individual gain from rather than small number of big companies.
One of the reasons why solar cars are not supported by big companies is because they are unreliable at night and because panels are easy to break. Just imagine if someone throws a stone on it and one panel is damaged, and you can't get the full capacity of charging. Also, with the water, there is a lot of controversy because we know oil companies are big players, and if that water fuel car is implemented, then for sure a lot of those companies would be affected, even the countries, but again, for sure you've heard about what happened to those inventors on it. |
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If there is a physical lottery in our country, it will expire, and this depends on what kind of lottery game you are joining; they range from 3 days up to 1 month, and after that, you'll lose your winnings if you haven't claimed them as that is their agreement. But online, I am not really aware of it, but I am not sure why you will be leaving your winnings or, like, forgetting it. I mean, you can check it on a daily basis, like every minute, or they are also sending you emails to make sure that you won.
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Bitcoin hit ATH last year in 2021. I think you lost count, but nothing less than a lot of us are really expecting another ATH or bull run next year, and the following year, as we know, is the halving next year, and a lot of us right now are saving bitcoins. But again, it ain't guaranteed that it will happen, but if we base our predictions on the past, there are really bullruns that happen after a few months or years. Let's just be patient on it.
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Your friend spent for sure most of his time researching and, let's say, got lucky to earn profit because we know right now that those 0 value altcoins can't be alive or have been pumped by something, so it is really rare, and again, if that happens, then for sure he has a ton of profit right now. Unlike before, this can now be seen or found easily, but now it is very difficult because of the scam projects. I am just curious how much your friend lost while finding and investing in altcoins.
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I mentioned somewhere that my closest friend has been unemployed for over a year due to the devastating collapse of his line of business and and his wife's sickness. Last time we met was a month ago and he was depressed in certain ways which worried me a lot. I called him to see if he was fine last Sunday and he told me he was looking for jobs and the next day he would go to several interviews. I was glad to hear that. Last night I called to follow up and he said the interviews were not going well. I aksed why. He told me that nowadays most companies are not doing well, barely making even actually. The interviewers would just say the job is not entitled to any insurance or benefits, what they can offer is a very low base salary and the commission part would be subject to how many sales the employee can bring to their company. My friend was not willing to take any of them because he has a family to feed and his wife's condition is unstable which could need a lot of money for surgery at any time. I understand him and am trying my best to help him find a high-pay job.
My friend's story sends me a signal: no matter how much I earn right now, try to keep my job and souce of income stable. I am also a family man and have responsibilities. Anything bad can also happen to me so I have to be prepared to the unforseen problems, although I am doing fine now. Make hay while the sun shines. If you have any advice for my friend, please let me know. Thank you.
That is true no matter how much you earn right now every family man should try make their source of income stable because we never know until when we are going to have our regular job. A steady source of income is a crucial in supporting a family need regardless of gender. As we all know that the cost of living is rising rapidly, it is essential to have a regular income to meet our basic needs and also our family. With the effect of inflation all over the world a lot of people not only your friend suffered from lay off. I hope your friend could find another source of income to be able to sustain the needs of his family. He can try do apply for an online jobs and be patient to search for one. The problem right now is that it is really difficult to find a stable job. Even for me, that is really what I want, as before I lost multiple jobs, with which my family really struggles a lot. That is why right now I settle more on a stable job than a high-paying one, because even if you want to grab the high-paying one, if, let's say, in a few years you'll get laid off, that is really useless, unlike having a secured one, which means that you have job security at that time, and you just add some side hustle to have another source of income. |
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I agree, selling property needs to be considered carefully, we should find all other ways before thinking about selling our property because selling is easy, but buying back is not easy. Especially assets that increase in value over time, like gold, real estate, or bitcoin. But in OP's case, he has emergency funds, why not use them instead of thinking about selling the property? Let's make a comparison, and it can be easily seen that creating an emergency fund will be much easier than buying property. OP, you should carefully consider everything before making a final decision.
Diverting funds from selling investment properties to other investments is very ineffective because we cannot afford to buy the same property due to property prices increasing every year, OP needs to consider that each type of property generates promising profits for the long term, but if we still have alternative options to use allocation from an emergency fund so we can use it to add to other investments instead of keeping emergency funds in fiat, my suggestion is that emergency funds are better diverted to gold or bitcoin investments which are easy to exchange with fiat whenever we need those funds for urgent needs. This is very true, it won't do good for you to sell your investment properties just to transition to other investment. In my case, I have some properties that are rented for me to have a passive income. The price of the house already doubled but still I stick to passive income for me to have extra money for other investment. I have two properties which I live in the other one and the one is for rented. But it's a good idea to use your emergency funds in investment where you can easily convert it back to fiat money such as you've mentioned. Once you've profited enough the best thing to do is to use those spare money for other investment as well for you to have a lot of options in case of emergency. That is really good if your property has a house on it, but if it is just sitting around with no building at all, then you are waiting for someone to rent it. There are no problems with that, but if you don't have plans for that area, for example, if it is very far from the road or if it is very remote, and you really plan to sell it soonest, then that is only possible if it is just your spare land, but if that is only your land, then that is a really bad idea. |
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This is a very important difference for trading and gambling. Apart from the rigorous time of proper and professional learning of the ropes which are so many to mention, from learning the general market analysis, currencies and coins interphase and interaction like $ especially, you now begin to learn how to operate on the trading platform or channel, how to place orders and what have you including stoploss, take profit, trailing stop, all the buy limit and sell limit plus your emotions all have to be learnt. Most important difference therefore is you can learn or relearn on the mistakes you made but I don't really know if we can call anything mistake in gambling rather we consider it as bad luck on that day.
Learning how to trade is a big task, not a lot of people can do that and I believe that it is going to take a while before people really learn what they are doing. I know that it is not going to be that simple, but I know it is going to be available to focus on what they could potentially do. One of the biggest examples of this would be making sure that we are not really trading what we know, we are trading what we think we know without learning. If you end up learning it well enough then you are going to end up with a trouble beyond measure. I hope that it gets to be a situation where everyone realizes that learning is a core part of trading. Gambling on the other hand? You do not need to learn anything after you learned the rules of the game. if you have no patience in learning the trade, you won't go anywhere on this field. however, once you get acquainted with the ins and outs, you would be addicted like in gambling. however, the prob with gambling is even if you learn the trade, winning will still be slippery as most games are based on luck. whereas, when it comes to trading, the more you know about what you're doing, the better chance of earning profits or at least not losing all your funds. The more you learn about trading, the more you'll get into it. If you can earn a profit, you'll think that this is better than gambling. That is why others got really into trading when they got their first winning trade. You are right, even if you know the game in gambling, you can't still win it or boost your winning ratio as it is still about luck, and gambling is really about losing and having fun,while in trading, if you lose, then for sure there is something wrong with your strategy, which again, you can improve over time. |
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