BE PREPARED FOR THE WORST: In this bear market,I have learnt that the worst could happen,so we should always prepare for the worst.Many have lost up to 80% of their portfolio to this bear market because they are not expecting the worst to happen,unfortunately,they are caught up in it.If they had prepare for the worst,they could have done something about their portfolio at the beginning of the bear market.
DECISION BASED ON PAST EXPERIENCE MAY NEVER BE THE RIGHT ONE:It may be risky to base your decision on assumption.At the beginning of this bear market,there was a lot of assumption,many so sure that before we close our eyes and open,bull run will be here.Nobody ever expect the bear market to be this long,so, many decision made base on this assumptions as lead to frustration today.
In crypto,today you are up and tomorrow you are down.
To those caught up in it,you can only hope for the best,dont give up.
that is the fluctuating crypto world where prices can change significantly over time. as a trader must be able to learn about it and understand that all can not be fully in accordance with what was previously expected. when the price drops in the market we should be able to use it to buy as expected of course by analyzing it first before deciding to join in it Crypto Asset price volatility is largely based on hype which often keeps interest high. The sharp drop in price can be affected by a post on social media and a deliberate remark of a famous person in the Crypto Asset world. In the area of Crypto Assets, news really has a significant influence on the situation in the market. Fear and greed (Fear and Greed) Psychological factors, namely the fear and greed of the public can also affect the price of crypto. The price of bitcoin began to move up considerably after a long time of no significant movement. This will cause the public to become greedy and buy more bitcoins in the hope that the price will rise even further. The more Bitcoin buyers, the higher the Bitcoin price will go, and this causes more people to want to buy Bitcoin. When the price of bitcoin begins to touch its peak, many people want to make a profit by selling their bitcoins. The more people who sell bitcoin, the price of bitcoin will go down. The price that moves down causes fear (Fear) in the public, so that more and more people are selling bitcoins again. |
|
|
|
|
The Covid-19 pandemic has made many people aware of the meaning of cleanliness. The public is advised to apply the 3M: Wear masks, wash hands, and keep a distance. Every time we travel, we are required to wash our hands and even take a shower to be free from bacteria and viruses. People are also starting to change their habits, such as covering their mouths when they sneeze. This pandemic could be your chance to improve your diet. Food at home is much healthier than food out.
|
|
|
|
Why do people lose money in crypto? the number one reason is panic, they tend to be controlled by emotion, for newbies never ever just bought something you really know nothing about, that's one of the rule, research is needed, your money is important so don't waste it with wrong decisions, if you decided to what coin to buy, don't sell with small movement crypto is volatile, make some target for losses and earning.
Yep, I agree with you, the key is to use your logic to think, don't use your hunches or feelings. Analyze the situation using logic and don't eat FUD news or rumors that shake your decision. You must be good at filtering news/information, whether this information is true or false. Mostly, traders always eat wrong information and just go along with it without analyzing the price movements of the crypto asset. |
|
|
|
Everyone is looking at El Salvador to be the home of Bitcoin, but I believe Singapore is better to be the true hub of the Bitcoin industry, with serious players.
The "legal tender" and the fact that's rather close to US make El Salvador very important. The fact that other countries are Bitcoin friendly doesn't mean that much. And while El Salvador has its place in history now, Singapore will probably have quite a competition into becoming a "hub" (and probably not from El Salvador). Singapore has made a lot of effort on the technological sector. It cannot be said of El Salvador.
Singapore has clean governance, and almost zero corruption. El Salvadors government structure might be corrupt everywhere from the bottom to the top.
Singapores banking industry is what made the country develop into one of the richest countries in the world. It can further develop by embracing the Bitcoin industry.
Imho these don't matter that much and the comparison is uneven. And you tried to compare apples with oranges, making a fruit salad. As long as the banking industry didn't embrace Bitcoin in Singapore, all you are saying is wishful thinking. And the history has shown that the "possibly more corrupt government structure" has already done a step the "almost zero corruption" govt of Singapore was afraid to make. So comparing the corruption may not bring anything useful. I think that El Salvador will probably not become a tech hub for Bitcoin. It may very well be that even Singapore won't be that. Imho, whether we like it or not, US has bigger chance for that. The United States is considered to be the country most ready to adopt cryptocurrencies. Based on the Crypto Head report, the United States' score in the 2021 Crypto Readiness Index is 7.13 on a scale of 0-10 points. The higher the score, the more ready the country is to adopt cryptocurrencies. One of the reasons for the US's readiness to adopt this digital currency is that it has 17,436 crypto automated teller machines (ATMs). Every single crypto ATM is used by 19,023 people. US law also permits the ownership of cryptocurrencies and their use in banks. As a result, searches for cryptocurrencies have increased by 140% in the past year. |
|
|
|
|
All back to your funds, where your funds from and for what. Because cryptocurrencies are decentralized, it's up to everyone to decide. You can hold or trade. When you hold, make sure the funds you invest are cold funds, where these funds are independent of funds for daily needs or for entertainment. Avoid using funds from bank loans, as the crypto market is volatile. If you use these funds, of course the best thing is to hold and of course put them on coins that have a bright future, it can be bitcoin, ether or bnb.
|
|
|
|
Inflation of 3% over the next several years compared with the extreme volatility of bitcoin isn't even a question. The dollar wins hands down. Your bitcoin could be worth $40,000 next month or $20,000. That's not protection from inflation. To actually protect against inflation, you need something that holds a steady and predictable value. Not that I think people shouldn't own bitcoin, but they definitely need to not delude themselves into thinking they're protecting themselves from what is ultimately still a low inflation rate by doing so. yes I agree with you, but in my opinion bitcoin is a store of value. Store of value itself is something that does not depreciate over time. Usually this medium store of value is rare and cannot be easily devalued. This is what causes Bitcoin to be categorized as a store of value. The best thing you can do with bitcoins is store them so you can protect yourself from inflation. Even though bitcoin is volatile, if it is withdrawn over a longer period of time (logarithmic chart), the value of bitcoin has remained or even increased drastically in the last 10 years. |
|
|
|
Beijing desperately needs control, with its financial system now increasingly visible. Bitcoin, the world's largest digital currency, and other cryptocurrencies are untraceable by a country's central bank, making it difficult to regulate. Chinese authorities banned trading this month to "prevent and control financial risks". Analysts say China is concerned about the proliferation of illicit investment and fundraising. China also has strict rules around capital outflows. "China has no open capital accounts and cryptocurrencies avoid this which is anathema to Chinese authorities," Jeffrey Halley, Asia Pacific analyst at Foreign Exchange trading firm Oanda, told AFP. But the crypto crackdown has also opened the door for China to introduce its own digital currency, which is already in the works, allowing the central government to monitor transactions. quoted : https://techxplore.com/news/2021-06-china-tough-crypto.html |
|
|
|
|
For people who are trying to earn from Bitcoin every day then he will apply trading in pursuit of profit. In a number of cases, there are people who are trying to make the Bitcoin market a living (trading for living). With the time he has, the trader can follow bitcoin price movements from second to second, minute to minute. This of course is not suitable, say for workers who have other activities during exchange hours.
On the other hand, there are people who are relatively relaxed in pursuing profits, namely by investing. These investors do not pay attention to daily stock price fluctuations because the shares they own are held for a long period of time (several years) until the price is reached according to their financial goals.
Which one is better? Neither trading nor investing is suitable for some people and not suitable for others. Whatever the choice of a suitable and convenient way for Bitcoin market participants, the important (and not easy) thing is consistency in making profits.
|
|
|
|
Financial success is certainly everyone's dream, but it must be based on sufficient knowledge to achieve it and to be able to achieve financial success is the ability to save and invest from an early age.
It's not something strange if the digital world is a part of our lives that must be put to good use because financial capabilities supported by digitalization advances will have an impact on one's success, don't give up easily and keep trying to adapt. technological advancements to create financial security and peace for today in the future and this industry is the right choice.
But don't just invest, choose the right business or instrument so that it can provide the benefits you expect. You can invest by buying land or houses that can be resold at a higher price than the purchase price. Investing in a boarding house or rented house is also a very promising investment. In addition, investment can also be done by buying shares or mutual funds. Another option is to invest your money in a startup company that has good growth. The conclusion that can be drawn is that if you have achieved financial freedom, then your financial condition is very good. You don't dwell in debt and your income is far greater than the cost of living. Financial freedom also provides a guarantee for a bright future as long as you can manage your finances well and invest in the right place. |
|
|
|
I think one thing is for sure if someone is still loosing money in cryptocurrency investments, it's a lack of research upon doing what is and what's that throughout his investment. He doesn't know any single thing on what he's going to invest such that he only chooses coins or alts that he hopes it could give him a good profit in the future, then in the long run it cannot give him any profit and by that he tries another opportunity similar to that. Repeating cycle to lose for investment.
Crypto assets include commodities that have fluctuations in value that can go up and down at any time so that people must understand from the start the potential and risks before making crypto asset transactions. Generally, many investors enter because of speculation and having fun to seek greater profits. However, there are also those who enter because they follow what is currently busy and becomes a trend. The characteristics of investors who are limited to joining in, of course generally do not really understand how it works or the characteristics of the investment assets. So, investing is more encouraged because you want to participate in getting high returns, in the end it is speculative. |
|
|
|
It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ainīt got any, you ainīt gonna invest". (I admit you could argue that you can borrow but still nobody ainīt lending ya if you ainīt gonna givvet baksh).
The basic concepts that will save you a 15 bucks book:
- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.
And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...
I agree with you that investing use savings or cold money. In financial planning, we must be able to separate daily needs (living), future needs (saving), and entertainment (playing). There is also an emergency fund, which is funds that we deliberately reserve if there is a sudden need at any time. Both emergency funds and investments should use cold cash. It means separate from daily needs. In order for this investment money and emergency funds to be separated from daily needs, it is better if we put it in a different place from our bank account or ATM. For investment, we already know the purpose, for example for vacation or wedding expenses. Meanwhile, emergency funds are for sudden needs that we don't know about, such as if you get laid off or lose your laptop for work. |
|
|
|
Talking about cryptocurrencies, of course, it doesn't rule out investing or stocks, in this case, of course we have to be careful in investing because investing also contains risks. The risk here is to lose funds or other assets when the investment does not live up to expectations or even fails. Yes, it is true that we cannot invest and then only expect profits without understanding the risk of loss, but to warn of all possible losses, what steps should we take?
So, if you are thinking of investing, try to diversify. Portfolio diversification is done to reduce the level of risk of investment instruments. Ideally, we can use a simple formula, namely one third can be placed in the money market such as deposits, another third is placed into fixed income or bonds and another third is placed in the stock market. By diversifying your portfolio, you can reduce potential losses due to investments made in only one instrument. |
|
|
|
Still on the waiting list after signing up for vaccination months ago. Hoping to be vaccinated as soon as possible having day jobs in this pandemic is a problematic and troublesome. Bringing food to the table is not as easy as it used to but due to this pandemic I was able to learn new skills in relation to my line of work. In my country there is no issue with the vaccines, i wonder which country would that be struggling to get vaccines, but i do accept the fact that jobs are a problem and for the past year many lost their jobs and i am not getting my perks for a while and i need to find something else to make a living. If you are planning to learn new skills then internet is your teacher and you can learn anything from it. Lucky for those who have no problem getting the vaccine. Because there are still so many countries that are still waiting for their vaccine supply to arrive or better yet, only small percentage has been vaccinated because of the lack of supply. But at least, seems that pandemic is starting to be contained because of the deployment of the vaccines all around the world. This is once in a lifetime to remember for this generation. Lockdown globally is very rare to happen. For countries with small populations vaccination may not be difficult, but it's different from countries with large populations (such as Indonesia and India). large population and limited number of medical personnel make vaccination slower than other countries. Not to mention the existence of fake news that makes many people afraid to receive vaccines. vaccination runs very slowly due to various factors, such as dependence on vaccine imports to limited raw materials and vaccine storage infrastructure. In addition, there are still some people's doubts about receiving vaccines provided by the government. It is important to re-evaluate whether the policies that have been implemented by the government are effective in controlling the pandemic. Solutions to speed up the Covid-19 vaccination process, such as implementing science-based policies, tightening community movements with the support of adequate social assistance. In addition, the government also needs to intensify the vaccination campaign so that the public's desire to participate in the program appears. |
|
|
|
|
One of the causes of the increase in the price of basic commodities is the tiered distribution chain. The length of distribution channels makes commodity prices at the producer level much different and expensive when they reach consumers.
The long distribution factor was suspected to have resulted in asymmetric price fluctuations. That is, it turns out that the price at the farmer is stable or down but the price at the consumer level actually goes up
|
|
|
|
Some people are born rich or moderately rich, some are born middle class and some are born poor or extremely poor. All these conditions come along with a set of survival guides that the parents, relatives and even teachers will pass along as a map of life. For example, in a school of a country that does not give opportunity to its people, where most of the students are poor, it is unlikely that the teachers will induce them to think big or have big dreams...more likely they will aim to keep them apart from drugs, avoid problems with the government and try to imbue some basic skill for life. The ultra-poor do not even get that - which actually may be better.
In a preppy school, where most of the students are rich-born, the conversation is quite different. Culture, life, opportunity, spirit-de-corps and class mentality are imbued in the same manner, so the kids will somehow justify in their minds that they have the right to be rich even if they have not done anything for anyone in their lives - perhaps not even for themselves - because of some Darwinian property of cosmos.
As a result, the poor and even middle class have to jump over one real barrier, their lack of funds, and more importantly, like the Elephant that learns young that he cannot break the chains and never tries again, over their own state of mind, their own prison set by the terms of those who trying to help taught them to avoid anything but doing the same that keeps them poor.
In practice, there are indeed some cases where poor people can change their fate up to 180 degrees. We certainly have heard success stories where they come from poor families but managed to turn things around with effort and hard work. But these cases are just a few of the many, who are still in the cycle of poverty. In fact, there are still many people who remain in poverty without being able to change their lives. The most fatal cause why people remain in poverty is surrender to the situation. They feel that their situation is something that cannot be changed, and they will continue to be in poverty no matter what. The thought then makes them have no desire to try to make things better. They even start blaming other people, like the government or the rich people out there. If that's the case, then it's no wonder that the cycle of poverty is difficult to break from their lives. Indeed, there is no guarantee that they will succeed in getting out of poverty by trying. But at least by trying there is still a chance to be successful, whereas if we don't do anything then we have no chance at all. |
|
|
|
|
Show Posts
