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Millionero
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February 16, 2018, 04:25:18 PM |
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It's also quite sad that financial literacy isn't being taught in schools, not even electively. And it could be easily taught in playful ways that anybody could pick up on too.
Agreed. But along with basic financial literacy coursework, the book "Rich Dad Poor Dad" should be required reading. Great book. I like your reads!  Here's a great one http://www.simonandschuster.com/books/The-First-National-Bank-of-Dad/David-Owen/9781416534259The guy who wrote it, David Owen, has pieces published frequently in The New Yorker. In The First National Bank of Dad, he describes how he gave his kids a hands-on education in financial literacy. It's really amazing. |
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Ibian
Legendary
 Offline
Activity: 1946
Merit: 1181
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February 16, 2018, 04:28:26 PM |
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Sometimes I seriously wonder if people have some unconscious desire to be poor and mediocre. They do. It's called a slave mentality, and it's why people like us are looked at as being somehow wrong. |
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JimboToronto
Legendary
 Online
Activity: 2212
Merit: 1254
You're never too old to be young.
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February 16, 2018, 04:37:56 PM Merited by BobLawblaw (1) |
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Good morning Bitcoinland. I see the battle for 5 digits continues... currently $10145USD/$12725CAD (Bitcoinaverage). A day or 2 more consolidation before continuing up, perhaps? Thanx. Saved it to read on the plane. Just scanned through the intro and it seems right on. For me it seems to be just reinforcing what I already figured out for myself or learned at the school of hard knocks long ago. Dropped out of art college in 1967, quit all 3 jobs I had in my life, 2 in less than 6 months, been job-free since 1977 (just say no) and have been living a fun life ever since. Sure, I made some mistakes along the way. At one point I had 4 mortgages on 3 houses. Never again. The only way I'll ever have a mortgage again is if I'm the mortgage holder collecting compound interest. I avoided owning a credit card for years but eventually broke down and got one (originally just to get a free t-shirt at the SkyDome!) which I only use for the internet, renting hotel rooms, cars, etc., and international travel. I pay it down immediately after using it. I'm proud to say Ive never received a statement with a payment due and never paid any interest except for a day or 2 on a cash advance. I pay cash for everything possible and haven't had a working bank account for years. I was doing just fine before Bitcoin earned me an obscene amount. Life is good. |
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Ibian
Legendary
Offline
Activity: 1946
Merit: 1181
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February 16, 2018, 04:41:13 PM |
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Agreed. But along with basic financial literacy coursework, the book "Rich Dad Poor Dad" should be required reading.
Just looked it up, saw a couple videos of the author on YT some time back. They were pretty much all spot on. People think their careers will save them, that they will never end and their wages will always be increasing to take care of their current and future debts.
Until their career doesn't.
That's also something that I don't understand though. I don't expect anything to ever go right without my personal intervention so I'm always on the lookout for something that I could do better. Heck, even with my degree and skills I wouldn't trust a job in ML/Stats to last for the next 10-20 years without picking up a lot of extra skills along the way. Things move way too fast, especially now. And then there's always the little twats that play those bullshit games that could stunt your progress in a company and end up costing you years of your life in terms of advancing forward. It just seems to be the most sensible to make sure that the worst case scenario in one's life (force majeure type events excluded) would be the minimum that one would consider passable as a living standard. Yet people keep demanding to be spoon-fed that standard without actively pursuing it. Almost makes me wish that natural selection weeded them out, but then we'd have no worker ants, so maybe they're just necessary the way they are? Life's weird. My take is that we are still living according to tribal instincts. Goes something like this: The camp is a safe place, so far as that means anything in nature. It's where the women, children, weak men, cripples, sick and elderly stay. Outside the camp is constant life threatening danger, but it is necessary to go out there in order to kill some food. That's what the strong and brave men do, the risk takers, the ones who provide for everyone. Most people are campers. Weak, cowardly. r-types. The few of us who make it big in some form or other, be it in business or investment or whatever, are K-types. We are willing to bet it all in order to gain everything. Today, rather than have a sharp separation between the weak and the strong with associated duties and rewards, we all live in one big pile where the weak think they are entitled to the same as the strong, regardless of personal merit. That's why we always trend more towards socialism and communism, because everyone gets to vote. And here we are. |
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BTCMILLIONAIRE
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February 16, 2018, 04:45:55 PM |
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Agreed. But along with basic financial literacy coursework, the book "Rich Dad Poor Dad" should be required reading.
Just looked it up, saw a couple videos of the author on YT some time back. They were pretty much all spot on. People think their careers will save them, that they will never end and their wages will always be increasing to take care of their current and future debts.
Until their career doesn't.
That's also something that I don't understand though. I don't expect anything to ever go right without my personal intervention so I'm always on the lookout for something that I could do better. Heck, even with my degree and skills I wouldn't trust a job in ML/Stats to last for the next 10-20 years without picking up a lot of extra skills along the way. Things move way too fast, especially now. And then there's always the little twats that play those bullshit games that could stunt your progress in a company and end up costing you years of your life in terms of advancing forward. It just seems to be the most sensible to make sure that the worst case scenario in one's life (force majeure type events excluded) would be the minimum that one would consider passable as a living standard. Yet people keep demanding to be spoon-fed that standard without actively pursuing it. Almost makes me wish that natural selection weeded them out, but then we'd have no worker ants, so maybe they're just necessary the way they are? Life's weird. My take is that we are still living according to tribal instincts. Goes something like this: The camp is a safe place, so far as that means anything in nature. It's where the women, children, weak men, cripples, sick and elderly stay. Outside the camp is constant life threatening danger, but it is necessary to go out there in order to kill some food. That's what the strong and brave men do, the risk takers, the ones who provide for everyone. Most people are campers. Weak, cowardly. r-types. The few of us who make it big in some form or other, be it in business or investment or whatever, are K-types. We are willing to bet it all in order to gain everything. Today, rather than have a sharp separation between the weak and the strong with associated duties and rewards, we all live in one big pile where the weak think they are entitled to the same as the strong, regardless of personal merit. That's why we always trend more towards socialism and communism, because everyone gets to vote. And here we are. Pretty much. I just hate the idea of completely open democracy. If you're not capable of arguing pro and contra for both sides of any argument (even those that you disagree with) you shouldn't be allowed to vote due to a lack of objective and unemotional analysis, period. Not that voting matters, but yeah. The camp analogy is quite nice, haven't thought of it from that exact perspective yet. Tribalism and "jungle-like" behaviour is quite apparent though, people seem to impulsively move away from anything that is unknown to them, just like someone who lives in the woods would instinctively seek cover when they'd hear a brush rustle. Good morning Bitcoinland. I see the battle for 5 digits continues... currently $10145USD/$12725CAD (Bitcoinaverage). A day or 2 more consolidation before continuing up, perhaps? Thanx. Saved it to read on the plane. Just scanned through the intro and it seems right on. For me it seems to be just reinforcing what I already figured out for myself or learned at the school of hard knocks long ago. Dropped out of art college in 1967, quit all 3 jobs I had in my life, 2 in less than 6 months, been job-free since 1977 (just say no) and have been living a fun life ever since. Sure, I made some mistakes along the way. At one point I had 4 mortgages on 3 houses. Never again. The only way I'll ever have a mortgage again is if I'm the mortgage holder collecting compound interest. I avoided owning a credit card for years but eventually broke down and got one (originally just to get a free t-shirt at the SkyDome!) which I only use for the internet, renting hotel rooms, cars, etc., and international travel. I pay it down immediately after using it. I'm proud to say Ive never received a statement with a payment due and never paid any interest except for a day or 2 on a cash advance. I pay cash for everything possible and haven't had a working bank account for years. I was doing just fine before Bitcoin earned me an obscene amount. Life is good. Can you actually pay utilities and the like in cash in Canada? Or how did you manage to get by without a bank account? |
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bitserve
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February 16, 2018, 04:54:00 PM
Last edit: February 16, 2018, 05:25:18 PM by bitserve |
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I had no idea that Bowie was so articulate and intelligent. What a contrast to today's "stars". Many "stars" are extremely intelligent. Not everyone got there just by "luck". Some Most even look much more stupid than they really are, because of... stars. But aren't. And yes, Bowie is one of the former. |
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Ibian
Legendary
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Activity: 1946
Merit: 1181
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February 16, 2018, 04:58:50 PM |
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I had no idea that Bowie was so articulate and intelligent. What a contrast to today's "stars". Many "stars" are extremely intelligent. Not everyone got there just by "luck". Some even look much more stupid than they really am, because of... stars. And yes, Bowie is one of the former. One important factor is if you are famous because of ability or how you look. One lifestyle breeds excellence, another breeds narcissism. |
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bitserve
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February 16, 2018, 05:20:11 PM |
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I had no idea that Bowie was so articulate and intelligent. What a contrast to today's "stars". Many "stars" are extremely intelligent. Not everyone got there just by "luck". Some even look much more stupid than they really am, because of... stars. And yes, Bowie is one of the former. One important factor is if you are famous because of ability or how you look. One lifestyle breeds excellence, another breeds narcissism. Arguable. Stereotyping. There is also "mental" narcisissm which has nothing to do with looks and it is usually even worse. Better to go back to topic and cellebrate another day of good healthy consolidation |
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JimboToronto
Legendary
Online
Activity: 2212
Merit: 1254
You're never too old to be young.
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February 16, 2018, 05:23:45 PM |
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Can you actually pay utilities and the like in cash in Canada? Or how did you manage to get by without a bank account?
It used to be easier to pay with cash. If you went to the Toronto Hydro offices on Carlton Street you could pay a cashier in a wicket on the main floor. Not any more. The Rogers kiosk in the Eaton Center still accepts cash payments though. Until I got the credit card, I used postal money orders to pay all my bills well in advance. I figured that by never having a late payment charge, it offset any paltry interest I might be missing from keeping my money in the bank. Instead the account credits I had at all the utilities served as money in the bank. By paying half a year's worth at once, I saved on the flat-rate money order fees, envelopes and postage. Now I simply go to the bank that administers my credit card. Even though I don't have an account with them, they'll take my utility payments for a fee of $1 each. I still keep account credits though. As I said, money in the bank. The banksters don't know what to think of me. I come waltzing in wearing my BTC ballcap and give them cash, only to find I don't have an account. Some of the flunkies tellers recognize the symbol on my cap and a few of them have struck up a conversation about it. One of them, obviously a real go-getter, even tried to talk me into selling some coins to "invest" in one of their fine financial products. LOL. |
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600watt
Legendary
Offline
Activity: 1904
Merit: 1276
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February 16, 2018, 05:26:01 PM |
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Dropped out of art college in 1967, quit all 3 jobs I had in my life, 2 in less than 6 months, been job-free since 1977 (just say no) and have been living a fun life ever since.
(...)
I was doing just fine before Bitcoin earned me an obscene amount. Life is good.
good to see that. congrats. |
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Toxic2040
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February 16, 2018, 05:50:28 PM |
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Well..looks like everyone has been eating their Wheaties this morning....good...must be time for some game theory. Btfd's. http://trust.fehradvice.com/ |
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Rsiyz
Jr. Member
Offline
Activity: 137
Merit: 5
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February 16, 2018, 05:54:31 PM |
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Good evening bitcoinland. https://www.zerohedge.com/news/2018-02-16/deutsche-nobody-can-understand-whats-going-dollar-answer-simpleMy country was decades invaded and keep in war state with us army. And this ** now relased cryptocoins and try destroy last healt economies in world who work and create real world. People like jimbo think they are "against banksters" and off MSM.. NO.. they live happy life in debt economy (low population like canada) and pay debt created with central bank before years ... now he get jacpot from same gangsters..witch pump up all cryptos... miracle happy life.. but i wish palestinians and syrians and other who pay with own blood for happy nort american life... but now last economy news from canada show ..it was only debt economy ,. resources have many countries and world is overloaded with them (like crude now) and people.. on youtube is some vblogers  about "happy life" just pump up .. becouse real people have not 10k or + on bitcoin .. thats why dark world use litecoin and other.. and will not real using of bitcoin ..just fake news and numbers about using crypto |
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BTCMILLIONAIRE
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February 16, 2018, 05:56:45 PM |
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Can you actually pay utilities and the like in cash in Canada? Or how did you manage to get by without a bank account?
It used to be easier to pay with cash. If you went to the Toronto Hydro offices on Carlton Street you could pay a cashier in a wicket on the main floor. Not any more. The Rogers kiosk in the Eaton Center still accepts cash payments though. Until I got the credit card, I used postal money orders to pay all my bills well in advance. I figured that by never having a late payment charge, it offset any paltry interest I might be missing from keeping my money in the bank. Instead the account credits I had at all the utilities served as money in the bank. By paying half a year's worth at once, I saved on the flat-rate money order fees, envelopes and postage. Now I simply go to the bank that administers my credit card. Even though I don't have an account with them, they'll take my utility payments for a fee of $1 each. I still keep account credits though. As I said, money in the bank. The banksters don't know what to think of me. I come waltzing in wearing my BTC ballcap and give them cash, only to find I don't have an account. Some of the flunkies tellers recognize the symbol on my cap and a few of them have struck up a conversation about it. One of them, obviously a real go-getter, even tried to talk me into selling some coins to "invest" in one of their fine financial products. LOL. Lmao, yeah bankers really love trying to talk you into buying their crap. It's always fun to talk to them for ages just to slowly reveal that you know what they are up to and that their products are complete trash by introducing little facts in the form of questions one by one. |
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Rsiyz
Jr. Member
Offline
Activity: 137
Merit: 5
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February 16, 2018, 06:07:00 PM |
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https://www.youtube.com/watch?v=1xfwFJp-LIE&list=UUpwvZwUam-URkxB7g4USKpgThis week's episode Miguel Francis-Santiago takes RT's Cryptolium deep into Russia's crypto-world. As India threatens to shut down crypto, while other government also hint at a clamp down, which way is Russia leaning? Find out the gritty details only in RT's Cryptolium
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bitserve
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February 16, 2018, 06:11:53 PM |
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Well..looks like everyone has been eating their Wheaties this morning....good...must be time for some game theory. Btfd's. http://trust.fehradvice.com/Awesome! |
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Ibian
Legendary
Offline
Activity: 1946
Merit: 1181
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February 16, 2018, 06:25:27 PM |
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Well..looks like everyone has been eating their Wheaties this morning....good...must be time for some game theory. Btfd's. http://trust.fehradvice.com/This is amazing. I got some good advice once. Treat everyone the best you can when you first meet, and after that treat them how they treat you. In this particular game, that worked great. Edit: I AM COPYCAT! |
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Dabs
Staff
Legendary
Offline
Activity: 2352
Merit: 1143
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February 16, 2018, 06:39:49 PM |
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I have a bank account and some credit cards with just enough to pay the bills. The rest are in crypto. It's more convenient and you do build up a good credit rating or credit score if you pay off all your cards or keep utilization below 5%.
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bitserve
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February 16, 2018, 06:46:44 PM |
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I have a bank account and some credit cards with just enough to pay the bills. The rest are in crypto. It's more convenient and you do build up a good credit rating or credit score if you pay off all your cards or keep utilization below 5%.
When you guys talk about credit utilization.... do you mean something like deferring payments instead of paying the bill at end of month? Never knew anyone that would do that. Looks suicidal considering the extreme interest. I would expect someone having to resort to that type of credit to be on the verge of bankruptcy already. Same with the people leasing or buying cars on credit (although I know some of those). |
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JimboToronto
Legendary
Online
Activity: 2212
Merit: 1254
You're never too old to be young.
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People like jimbo think they are "against banksters" and off MSM.. NO.. they live happy life in debt economy (low population like canada) and pay debt created with central bank before years ... now he get jacpot from same gangsters..witch pump up all cryptos...
miracle happy life..
Perhaps you should read my post again. I didn't say I was "against banksters". I laugh at them and use them to my advantage. I don't have a bank account. I don't pay interest. I use them to save postage on utility payments and for the convenience of a credit card which I use only when I absolutely can't use cash. Maybe Canada's wealth was partially created by the "debt economy" of which you speak, but most of it came from natural resources and the hard work and ingenuity of immigrants and their offspring. I didn't hit any "jackpot" from "gangsters". I got into Bitcoin because I was a computer geek who loved the concepts of open-source software, peer-to-peer networking and cryptography. My first purchase wasn't bitcoins, it was mining equipment. I had sufficient confidence in the importance of this new technology to not only hold on to all of my coins when the price dropped to $50, but to keep buying more. After going through this cycle repeatedly, I simply don't sweat it any more. It was never about trying to get rich. It was about doing something good. The wealth that came was strictly a by-product. Don't confuse me with being some kind of "trader". _____ Sorry to hear that you're from a war-torn, less advantaged country. We can't choose where we're born. All we can do is play the cards we're dealt as best we can. Don't blame me for that. |
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jbreher
Legendary
Offline
Activity: 2408
Merit: 1273
lose: unfind ... loose: untight
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February 16, 2018, 07:05:18 PM |
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We have (barely) broken the downward channel which has dominated since $17k. Even if the pump doesn’t hold, the channel is now vulnerable. It could be the end of the bear market.
I have a hard time thinking of this pullback from a monster pump as anything close to a bear market. |
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