Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

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Financial Independence and Legit Side Money Ideas For Techies and Geeks

Programmers, developers, software engineers, and other tech-savvy geeks are often some of the most financially independent people out there. That’s because they often have the skills to turn their side hustles into legit businesses that can generate significant income. In fact, many of the most successful tech entrepreneurs got their start by developing apps and selling them on popular app stores.

Financial Independence and Legit Side Money Ideas For Techies and Geeks

But you don’t need to be a whiz kid to make good money from your technical skills. Even if you’re not interested in starting your own company, there are plenty of opportunities to freelance or consult on projects that can pay well. And with the global economy increasingly reliant on technology, those skills are in high demand. So if you’re looking to boost your income, consider using your geeky talents to earn some extra cash. Who knows, you might just find yourself becoming a millionaire in the process.

This blog is about Clever Questions, Answers, Posts, discussions, links about:

If you’re a programmer, developer, software engineer, geek, or computer scientist, then you know that financial independence is important. After all, who wants to be tied down to a job they hate just because they need the money? The good news is that there are plenty of legitimate side money ideas out there for techies and geeks. Here are just a few:

  1. Programmers can make money by developing new apps and selling them on app stores like Apple’s App Store or Google Play.
  2. Developers can create websites or online courses teaching others how to code or use specific software programs.
  3. Software engineers can offer consulting services to companies who need help designing or improving their systems.
  4. Geeks can start a blog about their favorite topic (technology, science fiction, gaming, etc.) and make money through advertising or affiliate sales.
  5. Computer scientists can develop new algorithms or sell their existing ones to companies willing to pay for them.

So if you’re looking for ways to make some extra cash on the side, don’t despair – there are plenty of options out there for you. Do some research and see which one might be the best fit for your skills and interests. With a little effort, you could be well on your way to financial independence in no time!

AI Unraveled: Demystifying Frequently Asked Questions on Artificial Intelligence

Making money isn’t that big of a deal especially if a person is determined, The primary cause of poverty is ignorance and nothing else.

It stars with a burning desire to learn and your willingness to practice all you’ve learned and make the mistakes needed in other to get the a greater height, “that is how financial progression is achieved and sustained.”

in the aspect of making money online with a laptop, you can try out the following listed below….

  1. Affiliate Marketing.
  2. Selling on Amazon, eBay, Etsy, and Craigslist.
  3. Blogging.
  4. Niche E-commerce.
  5. Your Own YouTube Channel.
  6. Selling E-books.
  7. Develop Apps.
  8. Invest/trade cryptocurrency.

To be a master and be really successful in any of the listed, one has to first learn them before anything else goes.

And if you’re interested in cryptocurrency but too Busy and don’t have to time to learn, you can contact me I’ll teach you how a newbie trader can make profit in crypto quickly.

Legit Side Money Ideas on Quora

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    (throwaway acct. always gotta be cautious) Will try and make it as succinct as possible with some tables I recently discovered I hate working, but not in the sense that hard work is the bane of my existence (I've worked on my car for 20hours straight just to get to work), I just want to be able to do what I want, explore different trades, and not work 40hrs a week until I am 65. I have been looking into financial independence but come from a background and family that is not a source of information or help when it comes to that, both of my parents are "forever renters", and I am constantly being asked for help being the only child with stable income; they pay me back but more recently it seems like I will be taking a loss on some help I've given (about $800). I found this subreddit looking for advice on where to put my money, and advice given my specific situation. I graduated last year, worked for a year in a business casual, boring office, then got a different gig in a remote part of the country working for an undisclosed space company that has the potential to blow up in the next decade (3x investments almost guaranteed if I don't get fired during a purge). I am investing 1% of my income additional to an unvested 75kin stocks (not options) which I will need to pay tax on once vested. I used all of my savings to move to this part of the country for this opportunity, and am barely out of the red. I've got 2 dogs, I take pride in maintaining my home and car, and don't enjoy the typical early 20s lifestyle expected by my family. I want to enable my friends and family to come and visit and ideally I want to start my journey asap to FIRE. Ideally my goal is to build enough passive income to enable me to move to the Rockies with my dogs on acreage and build a home that is self sustaining (solar, well, tools etc., a place for loved ones to come and enjoy). and do this by the time I am in my late 30s. I also desperately want a new truck at some point (I want to have something that is truly mine from the beginning). My current short term plan involves saving the 3.5% down for a 203k FHA loan or FHA construction to permanent loan + closing costs, buying a larger plot (~100k) and building a garage with an studio apartment on top. This would enable me keep my 20y/o car on the road, and might be the cheapest option for housing while keeping my car garaged. However I don't know the correct investment vehicles that will allow me to achieve the goal, and retire early. Is it possible for me to build a smaller home to live in that is my own (I hate renting, asking to modify the home to be better, paying off someone else's mortgage, literally throwing money in the trash). Where can I start to find the passive income sources? Should I pay off my student loans now before attempting to buy land or a house? How should I reframe my mindset? ​ TLDR: 23yo recent grad have opportunity to invest 15% per pay period into a certain space company (investing 1% Currently) Want to own my home while I gather savings What are some places to look for investing and gaining passive income? is home ownership reasonable/worth it in the current stage of housing economy? am i doing something wrong in my breakdown below? Debt AMT($) Credit cards (want that 800 credit score) 600 Student loans Private (7.4% interest) 13k Student loans Federal (4%) 25k Invisalign (0%) 4k ​ Income/Savings AMT($) 87.4K Annual gross 69.1K (Post Tax) Savings (2% yield) 31.5k a year Current Savings balance 2400 FSA Contributions 3500 (Invisalign =/) 401K 5300 Stock Vested 15k a year (fully in 5 years no dividends) 75k Monthly income Net ~5400 ​ Expenses Est. AMT($) Pets 100 Rent 1600 Gas/Car 200 Insurance 97.68 Utilities 150 Entertainment 150 Internet 55 Phone 41.42 Food 460 other 100 Student loans (increase to 426 after payment pause) 173 Total Expenses 3127.1 submitted by /u/Additional-Egg-9436 [link] [comments]

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    **Background:** 37 M, based out of the Northeast, USA. I chanced upon this sub just about 1-2 years ago and found myself reading it more and more often. Due to recent life events, I’ve finally decided to well and truly commit to pursuing FIRE. I’ll make a yearly update post to hold myself accountable and in case anyone can benefit from any ensuing discussions! I came to the US for college and graduated in 2012. I’m a Program Manager at a FAANG currently. I live in a VHCOL location and wasn’t in a position to start contributing towards retirement until 3 years ago and am trying to play catch up now. I struggled in college due to depression and subsequently was hampered due to the constraints of immigration and the uncertainty it imposed. My way of trying to overcome these was to work really hard (think putting in 70 hour work weeks). My desire for FIRE comes from wanting to achieve better balance, although I continue to want to do well at work, I want to track towards no more than 50 hours per work week and investing more in my health and building a life with my wife and as we expect a baby next year. I also want to be in a better position to be able to provide for my parents who poured their heart and soul into raising me, having come from nothing. ------------------------------------------------------------------------------- Income Journey: 2013: $15k, 2014: 42.5k, 2015: $57K 2016: $75K 2017: $91K 2018:$35k (couldn’t work for most of the year) 2019: $115K 2020:$135k 2021: $165k 2022: $206k (excluding RSUs) 2023: $199k (excluding RSUs) Rental Income began from mid 2022 and is $2580 a month. Partner makes $100k currently ------------------------------------------------------------------------------ **Objectives for 2023:** * Reach $150k in investments by 2024 * Create a 3rd income stream to reduce dependency on salary/mitigate RSU volatility ------------------------------------------------------------------------------- **Current Assets:** * Emergency Fund: $15k in a HYSA at 3.9% * Checking Account: $5k for buffer always * Vanguard (Taxable investments): $50k (VTSAX) * Fidelity: $67k in total ($36.7k in 401k, Vanguard S & P 500 Index Fund + Vanguard Small Cap Index) $23.6K in Rollover IRA in Fidelity Large Cap Growth Index, $6.6K in Roth IRA in total market index fund). * RSUs (vested): $1.7K * Allocation: 10% Pre-Tax 401k, 5% Roth, 15% After-Tax 401k * Partner’s paid off car which we share **Current Debt:** * Primary Residence Mortgage: $742k ($697.2k left), 30 year mortgage at 2.99% (Ends at August 2051) - Currently worth $950K * Rental Property Mortgage: $400k ($302.4k left), 30 year mortgage at 2.75% (Ends at April 2051) - Currently worth $540K * Credit cards are paid off in full every month **Monthly Costs:** * Rental Property Mortgage: $1456 * Rental Property HoA + Insurance: $225 * Primary Mortgage: $4200 * Phone Bill (Google FI): $80 ($50 is reimbursed by work) * Train Monthly Pass: $250 (reimbursed by work) * Groceries/ Food: $500 * Electricity: $300 (Average and paid by Partner) * Oil: $125 (Average and paid by Partner) * Water/Sewer: $30 (Average and paid by Partner) * Misc: $100 submitted by /u/Jazzlike_Security_63 [link] [comments]

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    Put 40% of portfolio in well rated ZAG canadian govt bond ETF in March to use for stable retirement income/capital preservation. Value has dropped 3.4% in 2 months (correction from original post). Interest rates have been stable so I'm surprised. I know April CPI was higher than target so is this an anticipatory drawback? If so, then bond etfs are much less stable and prone to market swings/sentiment than I expected. Doesn't this volatile bond ETF model defeat the whole purpose of bonds in portfolio? Would holding on to recoup initial investment value, selling ZAG, then purchasing laddered bonds directly be a better plan for stability? If I wanted this kind of volatility, I would have gone all in on equities... *Thanks for the insights. I mistook total value drop for percentage. It is actually 3.4% not 10%. Not as bad as I thought but still seems a big swing in a short time. I am a new investor so maybe overreacting. submitted by /u/Master-Entrepreneur7 [link] [comments]

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  • Daily FI discussion thread - Sunday, May 28, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on May 28, 2023 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

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  • What are your recommendations for our financial plan moving forward? We are just starting out
    by /u/ExtentImpossible4416 (Financial Independence / Retire Early) on May 28, 2023 at 5:27 am

    Long post. My wife and I both grew up poor and have next to zero financial knowledge. I’ll give a little background about where we’re at, what we have planned for the next few years, and I would really appreciate advice and suggestions about where we should go from here. Background of where we are at now: My wife and I are both 26 and have no kids yet but plan to within the next few years. I’m military (E-4, ~3k with my special pays after tax) and my wife is about to start a GS-6 with a locality pay that brings her a little below 50k/annually. We have 25k student debt in the government loans for my Bachelor’s and my wife’s nursing program, however, it would all go away if student loan forgiveness is upheld this Summer. Not really counting on that, though. We are about to start a $140-160k mortgage (still deciding down payment) on a property and home of about $250k in value. We got a big family discount and intend to hold on to this home as our family home once we get back full-time in 6-10ish years. Both of our cars were paid in full with cash and are good for the foreseeable future. We presently live in base housing so our housing and utilities are a set amount each month and removed from my check. The home that we are in the process of inheriting/buying will have a house payment around $1,300-$1,500 for 15 years depending on the home insurance we’re able to find and if we’re able to get the property tax discount. It will have a mid 5% APR. We would like to pay this down quickly and we estimate we could probably do so in 7-10 years. In addition to my wife living in the home while I’m on deployments and such(she will take a leave of absence from her main job, will likely do short term contracting for a higher wage during this period) a sibling of mine will be staying in the house full-time as a caretaker until we return in a few year and they will be paying around half of total payment plus utilities. Raising the rent any higher for them is not something we will consider. I’ve recently started receiving TSP match for my military retirement account and only recently began contributing meaningful amounts for my portion. I’ve got it going with 5% Roth and the government matches 5% (which goes into traditional I believe) so I have 10% (~$300) of my pay going into TSP each month. To date it’s about $2.5k. My wife is beginning her federal job soon and will also have access to starting a TSP. We will have around 15k left in a MMSA account that has 1.1% APY after our down payment for the home. After taxes, my Roth contributions(wife hasn’t started her TSP yet), and all of our bills are paid we’ll have between $6,000-$6,500 extra each month. That doesn’t include home owning costs which will start in late Summer. After including my sibling’s rent ours will be ~$750 per month at the highest. Where we see the next few years: I have a little less than 3 years on my current contract but I’m considering a 3 year re-enlistment if the proper conditions are met. I’ll be promoted to E-5 in less than 2 years and then E-6 if re-enlist. I then intend to switch over to the reserves as an E-5/very close to E-6 or commission if the timing allows. It would depend upon unit location, school start, and healthcare costs. It will be hard to give up Tricare with a family, plus I’m content staying in the military until reserve retirement or until I get my professional career up and running. Once I get out I intend to go to medical school (I’ve been accepted to one in a low COL area, will immediately commission into the reserves in a program specific to medicine with this option) or law school (will only consider the top few schools and they are mostly in high COL, will most likely stay reserves until around graduation). We intend to buy a home in whatever city I do one of these programs in. The GI bill has a good housing allowance(E-5 BAH at school zip code) and the entirety of tuition for all of the schools that I’m considering. I plan for us to have a significant amount of savings by this point and my wife plans to work at least part-time (if we have kids by then) while I’m in school and she might be around a GS 7 or 8 by this point, or she might switch back to contracting. She wants to take off a few years after I finish professional school to stay home with the kids when they are young. I absolutely support this and it’s possible that she never returns to work. I’d like to switch down to part time work in my late 40’s/50’s. We plan to see a financial advisor on base within the month for a short term plan but I’m interested in a variety of recommendations and outlooks for our long term plan. Where to we go from here? What are some benchmarks for savings that you recommend for our situation? What do you recommend for our TSP contributions? What timeframe do you recommend for paying off the house? What extra investments do you recommend? What are your recommended financial literacy resources? Basically, where do we go from here? submitted by /u/ExtentImpossible4416 [link] [comments]

  • Lonely millionaire in Alaska - advice needed
    by /u/Critical-Flounder-78 (Financial Independence / Retire Early) on May 28, 2023 at 4:10 am

    Hi there, I’m a family doctor who decided to move to a remote oil town in Alaska about 8 years ago. The bonuses for working here are insane (and the taxes are low). In a typical year I gross $800,000 in earnings which compares to an average ~$200,000 income of a family doc in New York State. Once you consider professional overhead expenditures, taxes, and living expenses, I end up with about 15 times more “retained wealth” at the end of the year by living in this community than I would in New York. The problem is that I’m pretty damn lonely here. My life is work, 7 days a week. I miss my family (parents, siblings, nephews and nieces) in New York. No luck with meeting people or starting a family of my own here (so far). I am 35 this year. I’m further tied down by the fact that I decided a few years ago to pour about $2 million into developing a big 5000 sq. foot Medical Center here. I do love managing it and I love my employees. It’s become a profitable venture. Most of the other health professionals in town have set up shop at my center and I take a percentage of their overhead income. I also lease out space (at a premium rate) to a pharmacy and physio clinic. In addition to having this medical center as an asset, I’ve also saved up about $1.5 million and have it invested all in low cost index funds. Technically, I could get the best of both worlds by visiting my family in New York, but it’s an exhausting trip that I can’t do more than a couple of times a year. How much longer should I stay here? The money is so damn good, I love my job, I love running a medical center. But I feel desperately lonely. (NOTE- my future financial goal is to build a similar medical centre in New York near where my family lives The problem is that Property is crazy expensive in that place. To buy a decent quality 5000 ft.² facility, it would be about $3 million at least). submitted by /u/Critical-Flounder-78 [link] [comments]

  • Daily FI discussion thread - Saturday, May 27, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on May 27, 2023 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Pensions, WEP/GPO, and Social Security
    by /u/ChillyCheese (Financial Independence / Retire Early) on May 26, 2023 at 10:40 pm

    My spouse has around $100k in refundable contributions to a state pension, for a job that did not pay into social security (California Teachers' Pension). This was about 16 years of service into this pension, and she has left the state and will never contribute to it again. We plan to retire in about 5 years, and she'll have maybe a few years of total contributions to social security from other jobs. Due to Windfall Elimination Provision law, if she attempted to collect half of my social security at retirement age, her pension would reduce the amount to nearly $0. If I die before her, the Government Pension Offset would likewise reduce her ability to collect my social security significantly. Her pension has around a $25k/year annuity value now, and will not get inflation adjustments until she starts collecting it at age 60. At that point it gets a 2% p/a inflation adjustment but only on the original benefit amount, not compounded. So 20 years from now I expect the real value to be about $15k/year, with decreasing value every year. From my understanding, if she requests a full refund of all pension contributions it will be like she never had pension. She can then roll those funds into her 403b and invest as normal, maintaining the tax-deferred status. At retirement age she should then be able to fully claim half of my SS, and not be affected by WEP/GPO. Between 4% withdrawal of the future value of $100k, and the pension amount, I think it's about break-even. Add on getting half my social security, and it seems like a no-brainer to refund the pension. There have been some hints of bills that would get rid of WEP and/or GPO, but they seem to have died a few years ago. Who knows if they'll come to pass in the next 20 years. Anyone who is more knowledgeable in this space that can double-check my plans? submitted by /u/ChillyCheese [link] [comments]

  • Madfientist: The Problem with the 4% Rule (and Why You Could Retire Even Sooner)
    by /u/bonafide_bonsai (Financial Independence / Retire Early) on May 26, 2023 at 1:18 pm This challenges much of the thinking that a sub-4% withdrawal rate is necessary for early retirement. Main points: Early retirees can still find work if needed if things go south The 4% rule is actually 4.8% for a 30-year retirement, so likely about 4% for a 40-year+ retirement Discretionary spending further revises this calculation upward. As an example, if 20% of your withdrawal is discretionary, you are likely closer to a 4.25% withdrawal rate submitted by /u/bonafide_bonsai [link] [comments]

  • Daily FI discussion thread - Friday, May 26, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on May 26, 2023 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • How much of your net income do you save?
    by /u/Strang3r_Online (Financial Independence / Retire Early) on May 26, 2023 at 1:32 am

    I’m curious how much of net income others put into savings account. I’d like to get an idea of how much others put into it. Currently cash I have excluding my liabilities and investments is about a years worth my monthly expenses. Majority of it is in checking, got about three months worth in a high yield savings account. A few CD’s. I was thinking of putting more of my money into the high yield savings account. Say roughly half of my cash. Or do I keep majority if it in my checking? It’ll hedge a bit against inflation, if taxes don’t go crazy on the interest I make. submitted by /u/Strang3r_Online [link] [comments]

  • Simplifying Rent vs Buy using the SWR
    by /u/vora9122 (Financial Independence / Retire Early) on May 25, 2023 at 7:34 pm

    If one believes in the workings of a SWR, can we simplify the rent vs buy equation this way (at-least financially) with the assumptions I mention below. If Rent < (SWR+Property Tax+Maintenance+HOA)*Purchase amount, then you should rent otherwise buy? or am I missing something here? For example: if your SWR is 3.75%, Property Tax is 1.25% and Maintenance is 1% and HOA is 0; if your rent is < 6% of the purchase price it makes more sense to rent. Assumptions: You magically acquired the money to purchase the house (i.e no financing, no opportunity cost for the downpayment, no benefits of leverage etc.) Forever home Ignore closing costs Rent and property value keeps pace with inflation If you rent you would invest the money in an ~ 70/30 portfolio submitted by /u/vora9122 [link] [comments]

  • Any good calculators for defined benefits retirement plan (aka "traditional" pensions)?
    by /u/TheAmericanIrishman (Financial Independence / Retire Early) on May 25, 2023 at 6:51 pm

    So my situation is a little bit unique. When I was hired by my company 12 years ago, they were in the middle of a transition from a traditional pension plan to a more normal (by today's standards) 401(k) plan with company match. There was a narrow band of people who were hired in the middle of the transition who were grandfathered into the old plan while also being eligible to participate in the 401(k) matching, and I was one of those lucky people. Unfortunately, I have a hard time thinking through how I should value my pension in my overall progress-towards-retirement portfolio. I can run a simulator in the tool that says "if I keep working X years and get an average raise of Y% every year and retire at age Z, my monthly pension payment will be P" but I'd prefer to automate the process with some kind of calculator using the company's pension formula that I can update in real time. Then I'd be able to run Net Present Value calculations on the future cash flows to calculate my progress towards FIRE. Open to suggestions. submitted by /u/TheAmericanIrishman [link] [comments]

  • freelancer in live entertainment industry - need more tax advantaged accounts! & general freelance discussion...
    by /u/throwawayFI_ (Financial Independence / Retire Early) on May 25, 2023 at 6:36 pm

    hello! throwaway account! I've been reading the FI sub for years and have been trying to apply it to my own situation. Looking for some help and insight from the sub! Basic about me: 30F living in VHCOL city working in entertainment- concerts, theater, events, etc. Income/Employers: Every year my income is spread amongst 20-30 employers, some as an employee (W-2) and some as an sole proprietor (1099). Some employers will stay the same, some will be 1-single year only. Total income range is between 100-140k a year, mixed between W2 income and 1099. None of my W-2 employers provide 401ks or healthcare plans. I always max my Roth IRA and I have an individual 401k setup for my self-employed income. However, in a typical year my income is usually 85% W2 and 15% 1099, so the amount I can contribute to the i401k is not a lot. I self pay for a healthcare plan that is unfortunately not HSA compatible, despite a very high deductible... There is some opportunity for employer matched annuity via the union- but I am not typically in control of when I am on a union contract, and when I am not. I have looked into creating an LLC and trying to convert my W2 income to 1099 so I can contribute more to the 401k- but it would require me to carry insurance and I think I would end up paying more in self-employment tax. As a result, I've been doing all my investing in my non-tax sheltered brokerage account. Any tips or ideas for ways to grow wealth in a better way? Thank you!! ---- As a side note, I haven't seen many posts here from fellow freelancers (though I know I have some colleagues who share a similar mindset!) I think it is a path that is very aligned with the principles of FI - though without the safety of a regular paycheck. As a result, I tend to keep more in my emergency fund than normally suggested by the sub (~30% cash & 8% fixed interest CDs/Bonds). I know that the cash is actively losing money, but because I can't predict exactly how much I will make each year (and COVID completely stopped work for 1-2 years) it feels important to keep at least a year's worth of expenses in fluid cash. While there is less security, I really enjoy the freedom over my schedule. I'm able to do some work remotely and if I want to take time off, I just don't take any work in that period. There has been a big journey of self-valuation and self-growth in realizing what my time is worth. I've had to learn how to advocate for myself. thank you for reading! curious if there are others in the sub with similar experience submitted by /u/throwawayFI_ [link] [comments]

  • [25m] Have I been investing too much of my money? Need advice.
    by /u/ridlehprime (Financial Independence / Retire Early) on May 25, 2023 at 5:50 pm

    I graduated college and started working in 2020 making 65k. Not knowing what to do with all of this money, I did some research. I followed the personal finance flowchart and discovered FIRE. Since then I every paycheck I've put a portion into savings, some into checking and the rest into investments. When I told my parents this back in 2020, they were fine with it. Though they warned me not to "put all of my eggs into one basket" and invest in real estate as well. I did not, and still not, want to get into real estate since in my mind putting money into an index fund every 2 weeks is significantly easier than dealing with real estate. Fast forward to today and I have close to 100k total across all investment accounts (roth ira, individual stocks, and taxable brokerage. Job does not offer a 401k) and 12k in my savings account. I told my parents about this, as this was a great milestone to hit, but they were more shocked than happy. They told me that i've put too much into my investment accounts and that by this point I should've had easily more than 50k in my savings account, because if/when an emergency happens the money in my investments won't save me. I told them I have 12k in savings, and that's more than enough to cover living expenses and emergencies but they wont budge. They see investing as gambling your money more than anything else. I think there's value in their advice, given that they have more years of experience paying bills and dealing with money than I've been alive, but at the same time I believe this is the best thing I can do right now in terms of helping future me financially. I recognize that I will (probably) never get this opportunity again to save so much of my money once I move out and have to deal with rent and bills, so it makes sense to try and save/invest as much as I can. Its not like I've been forcing myself to live off of 100/week, I very often splurge on uber eats, video games, clothes etc. because everything left over after I save and invest can go towards whatever I want. So sorry if this was too long, I just wanted to reach out to the FIRE community to get different perspectives/opinions on my situation, and what I can be doing better moving forward. submitted by /u/ridlehprime [link] [comments]

  • Can someone educate me on a back door Roth IRA?
    by /u/Nudol (Financial Independence / Retire Early) on May 25, 2023 at 3:48 pm

    So I understand that a Roth IRA has a income limit and once you pass that, you are not allowed to contribute. A back door Roth IRA is just converting a Traditional IRA to a Roth IRA. So you would open a Tradition IRA then put the money in that then converted to a Roth right away. So what I am confused on is; would this be a one and done type of thing? Such as, once you do this conversion, are you able to freely invest in the Roth? OR would you need to do this process every year? This leads me to my next question, What if you already have an existing Roth IRA? Would you just transfer the money from the backdoor Roth to your primary Roth account? Lastly, if you do just transfer money each time. Then what happen to the conversion account? Would you open a traditional, convert, transfer, then re-convert the "back door Roth" account back to a traditional then wait until the following year to repeat the process? Thank you for any explanation!! submitted by /u/Nudol [link] [comments]

  • Daily FI discussion thread - Thursday, May 25, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on May 25, 2023 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Need guidance towards financial independence.
    by /u/Fun-Event3474 (Financial Independence / Retire Early) on May 24, 2023 at 10:23 pm

    I would love to get some insights and advice from the folks at FI on my current situation and how to put myself on the path to a stronger financial footing. I am currently making 130,000 USD a year (and I expect that to go up to 170,000+ USD sometime during the summer). I am single, 39 years old and here is what I have thus far (I finished grad school in 2019, so haven't much savings, having worked only for 3 years and 8 months to this point): Debt: Two personal, family loans (7250 USD and 2750 USD) @ 0% being returned to bit by bit on a monthly basis (500 USD per loan every month) Amex personal loan of 8750 USD @ 6.98% for 3 years. 20000 USD personal loan @ 7.44% taken out for family that is being repaid at 620 USD per month (13765 USD principal remains, and although I am paying this, this is money I will get back in its entirety in the next 1-2 years). Accounts: I have a 403(b) from a previous employer that has around 19000 USD in stable, not very risky funds parked at TIAA. I have a Roth IRA that I had rolled over from an employer's 401K back in 2014, which was essentially dormant while I finished grad school, but I am contributing to again. I maxed it out for my AGI last year and will continue to do so going forward. Current balance is around 11000 USD. I have access to an HSA only from October of last year, which has been promptly maxed out and will again be this year and going forward. Current balance is 5200 USD. My current employer's 401K is matched up to 4%. I am currently contributing 5% (which I have changed to 7% as of yesterday) and the current balance is 5850 USD. It is parked in a 1980 target-date fund for now, but I intend to change the asset allocation as soon as I get some advice. I lucked into some crypto investments in 2020 when there was a boom, so there is approximately 10000 USD there. Have since not invested anything in crypto. I have 1600 USD put away in emergency funds and add to that on a monthly basis as much as I can. I have around 25000 USD invested back in my home country and is being managed by a knowledgeable person whom I trust implicitly. That is something that is not going to be touched and will continue to be re-invested. Lifestyle: I live well below my means, don't have any extravagant spending (and the debt was due to a divorce, before which I was 100% debt free), and will continue this lifestyle for the foreseeable future. My expenses come to 3000 USD per month, give or take a few hundred here and there (without taking into account the debt payments). I don't have credit card debt, and whatever expenses go on there are paid off in full every month. Questions: I know I am not maxing out my retirement vehicles and would like to do better. I am struggling to find a balance between paying off the debt versus putting the same money into investments, especially since the personal loans are 0%. While I don't have any intentions of retiring early entirely (considering my personality and how I would get bored, and also I love the work I do, so no issues there), what other steps can I take to make myself financially secure? I would like to purchase land and build a house (or just buy a house) a few years from now and I estimate that I will not be spending anything more than 500,000 USD (which is going to be my absolute maximum). I would definitely appreciate some advice in saving towards a downpayment, how much, any investments etc. So, to round this off, I would love any financial tips and advice you folks can give me. If you have questions about what funds are in the HSA, 401K, 403(b) etc., do let me know and I will provide that information. Thanks in advance for reading and taking the time out. submitted by /u/Fun-Event3474 [link] [comments]

  • The Official 2022 FI Survey is Here
    by /u/Melonbalon (Financial Independence / Retire Early) on May 5, 2023 at 2:11 am

    THE RESULTS AREN’T IN YET…DON’T ASK… Ok, now that that’s done…the official 2022 FI survey is now available. For those that are new here, this is a quasi-annual tradition for this sub. For previous results, go here. This post will be a bit long, so buckle up. ALL data will be released in a spreadsheet to the sub. If you’re not comfortable with that, don’t take the survey. Whenever possible, identifying information (such as age) is obscured in ranges. The survey does not ask for location, username, email, or other unique information, so your privacy is reasonably protected. Because there are several numbers involved, here is a preparation spreadsheet you can use to organize your information before opening the survey itself. Survey Instructions These instructions are also available on the first screen of the survey, but you may want to keep this post open in a separate tab to refer back to them***.*** Throughout the survey each section includes instructions at the top of the page as well. The survey will take 15-30 minutes to complete, depending on how prepared you are with your numbers. Enter all annual information for calendar year 2022 (January 1 – December 31, 2022). Enter all point in time data (like account balances) as of December 31, 2022 (or as close thereto as you can get). Enter all amounts in current dollars (or your native currency). Remember that personal finance is personal. Enter your numbers as you interpret them, personally. If you really get stuck, I will be watching the posting thread and answering interpretation questions as able. Because personal finance is personal, some buckets may not be precisely consistent with your personal buckets. The survey is long, and asks for a lot of information. You can skip to the end to submit, which will then provide you a custom link to come back to your answers and edit them. The survey will be available for the entire month of May. Enter dollar amounts as a whole number, appropriately rounded. E.G. $32,594.56 is entered as 32595, with no commas. Enter percentages as a number, not a decimal. For example, 4% is entered as 4 (not .04), 20.5% is entered as 20.5 (not .205), etc. Symbols for dollars ($) and percentages (%) are not needed. At the end of the survey, you will be asked for any comments on the survey. If you had issues with a question, please refer to it in your comments by the question number. Because the survey does not ask for identifying information, I will not be able to follow up with you, so please be as specific as you can about the issue or difficulty you encountered. The survey asks how many people contribute to your household finances, and thereafter your responses should include all assets, debt, etc. belonging to those people. You determine the number of people who contribute to your finances. Demographic questions include demographics for "contributor 2" and "contributor 3", if you have more than one person contributing to your household income, you can include their demographic information there. Almost all questions are skippable; if a question does not apply to you or you haven't yet determined the answer, skip it. Now that you’ve read all that… you can go take the survey! IF YOU ARE ON MOBILE - OPEN THIS AND NOTE YOUR COST OF LIVING BEFORE STARTING THE SURVEY. submitted by /u/Melonbalon [link] [comments]

How crypto could change the world and Why Cryptocurrency was invented in the first place.

How crypto could change the world and Why Cryptocurrency was invented in the first place.

You can translate the content of this page by selecting a language in the select box.

How crypto could change the world and Why Cryptocurrency was invented in the first place.

People used to pay each other in gold and silver. Difficult to transport. Difficult to divide.

Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide.

Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank.

Central banking was invented. Central banks would be lenders of last resort. Runs on the bank were thus mitigated by banks guaranteeing each other’s deposits through a central bank. The risk of a bank run was not lowered. Its frequency was diminished and its impact was increased. After all, banks remained basically insolvent in this fractional reserve scheme.

Banks would still get in trouble. But now, if one bank got in sufficient trouble, they would all be in trouble at the same time. Governments would have to step in to save them.

All ties between the financial system and gold were severed in 1971 when Nixon decided that the USD would no longer be exchangeable for a fixed amount of gold. This exacerbated the problem, because there was now effectively no limit anymore on the amount of paper money that banks could create.

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From this moment on, all money was created as credit. Money ceased to be supported by an asset. When you take out a loan, money is created and lent to you. Banks expect this freshly minted money to be returned to them with interest. Sure, banks need to keep adequate reserves. But these reserves basically consist of the same credit-based money. And reserves are much lower than the loans they make.

This led to an explosion in the money supply. The Federal Reserve stopped reporting M3 in 2006. But the ECB currently reports a yearly increase in the supply of the euro of about 5%.

This leads to a yearly increase in prices. The price increase is somewhat lower than the increase in the money supply. This is because of increased productivity. Society gets better at producing stuff cheaper all the time. So, in absence of money creation you would expect prices to drop every year. That they don’t is the effect of money creation.

What remains is an inflation rate in the 2% range.

Banks have discovered that they can siphon off all the productivity increase + 2% every year, without people complaining too much. They accomplish this currently by increasing the money supply by 5% per year, getting this money returned to them at an interest.

Apart from this insidious tax on society, banks take society hostage every couple of years. In case of a financial crisis, banks need bailouts or the system will collapse.

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Apart from these problems, banks and governments are now striving to do away with cash. This would mean that no two free men would be able to exchange money without intermediation by a bank. If you believe that to transact with others is a fundamental right, this should scare you.

The absence of sound money was at the root of the problem. We were force-fed paper money because there were no good alternatives. Gold and silver remain difficult to use.

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When it was tried to launch a private currency backed by precious metals (Liberty dollar), this initiative was shut down because it undermined the U.S. currency system. Apparently, a currency alternative could only thrive if “nobody” launched it and if they was no central point of failure.

What was needed was a peer-to-peer electronic cash system. This was what Satoshi Nakamoto described in 2008. It was a response to all the problems described above. That is why he labeled the genesis block with the text: “03/Jan/2009 Chancellor on brink of second bailout for banks.”. Bitcoin was meant to be an alternative to our current financial system.

So, if you find yourself religiously checking some cryptocurrency’s price, or bogged down in discussions about the “one true bitcoin”, or constantly asking what currency to buy, please at least remember that we have bigger fish to fry.

We are here to fix the financial system.

Given how early in the Rogers Adoption Curve for Crypto we are, I would like to take a moment so we can just imagine what this technological revolution, which I consider is the next huge step for human kind, could bring. I will emphasize some socioeconomic implications of descentralization, but I`m mostly interested in listening to, and debating your inputs.

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Blockchain and Crypto Currency are here to change the world forever.

The implications of decentralization

As you may know one of the core proposals of blockchain is decentralization, and with it we can optimize so many processes that this alone could be the revolution we are talking about. By eliminating intermediaries, we can save on the cost they add to the supply chain ensuring those that create the value, keep it. Or we can simply save on fees.

To quote the man himself:

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Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly. – Vitalik Buterin.

To put it simply, imagine that you replace Binance (a centralized company) with a robot. A robot that you have programed so well, whose code you publicly audit, and that is so safe you can trust it with billions of dollars in liquidity pools, so it proceeds to host and operate the trading platform by itself. In case you didn’t know, this is already a reality! Many people here trade on those platforms on a daily basis.

But this goes beyond replacing Centralized Exchanges with Automated Market Makers, Airbnb with a blockchain DApp that connects landlords and costumers, or even banks with complex smart contracts that allow you to borrow, save, tokenize physical assets, and so on. This goes way beyond.

Here is where I start to fantasize of the future. Think about replacing capital itself, think about getting rid of corporations. Lets dream of a world with DAOs massive adoption.

With DeFi, we may no longer need a company like Nestlé…

And specially not their investors. Of course, you will still need the people administrating, planning, monitoring, generating new ideas that adapt to their context, and creating innovative solutions for a complex world only humans can comprehend. But the figure of shareholders and CEOs that steal all the value that workers create and leave them with a tiny fraction of it, can disappear. This can be the basis of a once in a century transformation.

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Just as an example: Nestlè’s coffee growers in Colombia keep less than 10% of the final sale price, and barely make a living on it, so are actually abandoning the rural areas.

With Blockchain, DeFi and Smart Contracts, people like you and me can collectively fund such an operation, and then agree upon specific terms like wages by direct democracy, voting with our crypto holdings. Then we would proceed to allocate funds, hire “developers” which would ultimately be regular office jobs that keep the organization functioning. Once in operation we would frequently vote on decisions and results, which would ultimately keep the highest level of accountability for people working in the organization. This is already happening by the way, this is how some blockchain projects work today. We just haven’t applied it to industrial and physical supply chains yet.

Let’s go back to our project to replace Nestle. Imagine that an organization’s main goal is not to maximize profits for shareholders and bonuses for CEOs anymore. Instead, it’s the interest of regular people and the company’s collaborators that drive its actions.

Most likely, you and I will want to consolidate an efficient and effective supply chain, that is sustainable and keeps the dignity and wellbeing of its collaborators as a guiding principle. We are not longer at their mercy on issues like climate change, we can now take immediate action against it, or stop endangering and hoarding water supplies in classic Nestle fashion.

Also, we are making profits, so we are redistributing capital, and improving our quality of life, which will be most notorious in the most vulnerable communities, usually those that extract/harvest/mine raw materials.

This is what could happen with the blockchain descentralization of business. And you could apply it to pretty much anything, but maybe initially it could be for low labor and capital intensive businesses.

I’ll give you another example. I work for a solar power multinational company. If you don’t know it, solar energy is essentially a financial product, most people working in these companies don’t care about the world, its simply that solar is a very safe and lucrative hustle, and all investors care about is having a nice return of investment (ROI). As of now, my company works exclusively for large scale corporate clients or the state itself, given that’s where the nice ROIs are, since they give you the projects that allow you to place large capitals at once. This means, as of today, we blatantly ignore the regular people that seek for our help and funding to power their farms and/or houses with solar energy. They’re not that profitable my boss tells me. This is shitty, and I’ve thought of quitting several times.

But back to the point. Now, imagine once again, we get rid of the institutional investors. Now you and me create Reddit Solar Co, a DAO. Our only purpose is to facilitate access to electricity to those without it, and to advance in the urban implementation of renewable energy. We help the world, make dividends that are automatically distributed by the DAO, and also our own Crypto is rising in value.

And this is not the best.

Let’s not forget of synergies.

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So, we just created a DAO that manufactures and distributes food globally right? Or maybe Reddit Solar Co. As an organization born on the blockchain, we won’t have to adapt to the state of the art innovations on the crypto world like an old steam locomotive attempting to adapt a warp drive on top of it. We were born in space.

From the beginning, our Ethereum based DAO could adopt VeChain’s solution for supply chains, Cardano will help us to give an integral solution to the unbanked communities that provide our raw material, they now have IDs, access to DeFi and education. The land deeds and legal documents that relate to our enterprise are certified by LTO Network, we move money internationally with XRP or Stellar, and don’t worry, we use Polkadot to ensure proper blockchain interoperability.

Too complex for you? Don’t worry, you don’t even have to know or care about this, leave that to others. You’re into finance. Maybe sales is your thing and there’s a little Michael Scott in you. Or you`re into social work and want to supervise our community engagement at the start of the supply chain. Just go do your thing! You don’t necessarily have to be involved in all of this.

All you know is you do your job and receive your crypto salary.

Just as computers and the internet changed the world forever, and not only had economic implications but also changed our culture, routines, work lives and ways to interact with each other, crypto will. We are just so early; that all we can do for now is dream.

You’re having too much hope in humanity dude…

Sure, I may be making some optimistic assumptions on the motivations of humans, I may be saying that we will use this technology for good, and that we care about each other, and that’s one way to look at it. But we could also argue in favor of this from a sceptic perspective: even if you don’t care about the collective wellbeing of your community, it’s in your interest to live in a safer environment right? Ergo you want to reduce poverty. Its also in your interest to stop global warming so organized human life can continue to exist, or to make sure you and your children will have water and food in 50 years, that’s why you will want to use technology for good even if you only care about yourself. Also lets not forget the powerful incentive of profits. Crypto has the clear potential to achieve all of this.

Most of the current generation of crypto projects will be ready and operating within the next 3 years, so all we will need by then is the will to use this technology for good, and the vision to change the world.

This is just the beginning, we will be killing industries but giving birth to others we could have never imagined before.

Cons of Crypto:
A coin called “Chia” is gobbling up 1,125,000 TB storage per day. Just to farm this token that no one seems to use. This takes resource wastage to a whole new level.

Chia is a coin that works on a proof of time space consensus. I.e. to farm this coin, one must allot dedicated hard drives and allot the space (known as plots), and get rewarded for it. Sounds good on paper, and one could even be tempted to think they may put that spare 500 GB space left and earn some passive income on it.

Except, this one already requires industrial grade storage space, just to farm a token that has almost zero adoption anywhere.

As you can see from this coin’s explorer, the storage is growing by almost 1000 PiB per day, in the last few days.

1 PiB = 1125.9 TB.

So a growth of 1000 PiB per day => almost 1125000 TB of storage per day is added onto this network, just to mine these coins. This equates to 1.1 million 1 TB drives added per day just to support farming on this network!

Pros of Crypto:
– People in Hong Kong Use The Crypto and Blockchain To Fight Against Media Censorship

Data indicates that 76% of Bitcoin investors are still in profit

Bitcoin Pro Arguments:

  • Network effect and staying power
    BTC is the first virtual currency to solve the double-spending issue. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin undoubtedly has a ‘brand’. It has perhaps the most substantial name recognition of any existing crypto asset and is basically synonymous with ‘cryptocurrency’ to the lay public.
  • Despite near constant proclamations of its demise, Bitcoin has not died. One could argue that – as the progenitor of cryptocurrencies – its longevity and continued profitability is itself an investment thesis.
  • As the number of public addresses, daily active users (DAU), and large holders/long term holders continue to trend upwards, it becomes harder and harder to ‘put the genie back in the bottle’:
  • Bitcoin’s valuation is well described by the most fundamental factor intrinsic to its network: the number of addresses that hold BTC. Applying Metcalfe’s law, the total value of Bitcoin’s network is well explained, with an R squared of 93.8%, simply by the square of its user base, n.
  • Store of value to hedge inflation
  • Over its lifetime, narratives of Bitcoin’s value have gone through several shifts, from the original cypherpunk vision in the white paper of p2p ‘e-cash’ to today’s ‘digital gold’ narrative.
  • One theme underlying both of these points, however, is a reaction to or distrust in the current financial system. This was true during the financial crisis of 2008 (see the genesis block message) and is still relevant today with unprecedented levels of monetary and fiscal stimulus being pursued by governments worldwide. Government deficits and central bank money printing may lead to inflation and thus drive investors towards assets like gold or Bitcoin to preserve their wealth.
  • This notion that BTC is a store of value to hedge inflation has certainly caught on in the last few years – not just from institutional or hedge fund investors, but from companies like MicroStrategy, Square and Tesla adding BTC to their balance sheets.
  • Like gold, BTC is scarce – only 21M will ever exist. It is estimated that 3M-3.7M BTC have been lost forever/will never enter circulating supply again.. One estimate is that 14.5M BTC are essentially illiquid.
  • To take one example, Grayscale’s BTC trust – which has no redemption process and thus effectively takes BTC out of circulation – alone holds over 600k BTC.
  • Like gold, BTC is also divisible, interchangeable and durable. Unlike gold, however, BTC is a digital asset and is thus easier to purchase, move and store.
  • If the store of value narrative endures, Bitcoin may have significant upside in supplanting a share of gold’s use case (estimated to be a $10T asset class).
  • Development
  • One of the common counterarguments for Bitcoin is that it is a ‘dinosaur’ with little technological improvement or development (as compared to its more innovative successors).
  • Schisms in the dev community notwithstanding, Bitcoin remains an open-source project with global development communities and activity
  • Developments of note include:
  • Segregated Witness (SegWit): a protocol upgrade proposal that went live in August 2017. This protocol upgrade effectively increased the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second (TPS)
  • Lightning Network: is a second-layer micropayment solution for scalability
  • Taproot: an anticipated upgrade to increase privacy and improve upon other factors related to complex transactions
  • While other blockchains boast enterprise development, some companies are indeed building on Bitcoin. For example, Microsoft recently launched a Decentralized Identifier (DID) network (ION) on the Bitcoin mainnet
  • Ideological foundation for a potentially new financial system, without the old, decrepit, and corrupt banks and middle men.
  • The Environmental Argument is almost pointless, as it is the most efficient way of transporting millions of dollars around the world in mere seconds. And I mean efficient in all ways, there us no other single asset in the world capable of transporting this amount of capital wealth with such a low environmental impact or financial cost. If not, try moving 4 millions dollars of gold. Also, as Btc increases in value, this gets more on more efficient.
  • Innovation of the technology and the first mover advantage in capturing this new market’s value/future value. Btc will always be at the top as mainstream adoption continues relating Crypto=Bitcoin.
  • Ability to be bankless, with proven liquidity (thanks to Tesla) and with the best performing asset creation-to-date.
  • Inability of third parties to do anything about your Btc holding without the seed phrase. Government’s can hardly tax it if, as Michael Saylor put it: “I had a boating accident and forgot my seedphrase, I don’t have acces to my crypto anymore so I can’t be taxed”. In a way, nobody but yourself can prove that you still have access to those funds, so, can they truly be taxable?
  • The S2F model and updated S2F XA model. So far they have been scarily precise. Otherwise, Metcalfe’s law assures anyone that bitcoin may never go to 0, as the network is already strong enough to provide a certain degree of value.

Bitcoin CONS Arguments:

  • Bitcoin has been around way too long, and to the uneducated it is the face of the crypto world.
  • Bitcoin has no smart contracts.
  • Bitcoin is slow.
  • Bitcoin fees are expensive.
  • People see it as an investment, not a currency they can use and spend. In the end this is not defined as it’s supposed to be used, but only as store of value. It’s at the state of gold, not of a coin.
  • Bitcoin has become outdated, the only thing it’s useful for is investing, day to day transactions are useless.
  • Bitcoin’s largest advantage and in fact it’s greatest disadvantage is that it’s the oldest cryptocurrency. Since then technology has evolved so much to become more energy and time efficient.
  • Bitcoin is like the grandpa of crypto and we should look at it as such. Admire it for its wisdom because it has taught us so much, but also acknowledge that each of its children are trying to make their own marks on the world.
  • It’s huge environmental impact due to its proof-of-work concept. BTC has a carbon footprint like Singapore, uses as much electrical energy as the Netherlands, and produces as much electronic waste as Luxembourg. This is a huge problem and needs to be accepted more widely.
  • It’s slow. with an average transaction time of like 10 minutes, we are pretty far from instant transactions – this might not be a problem in all cases, but is one when one would like to use it like a currency, as it was planned originally
  • High transaction costs – not ETH-high, but too high
  • Bitcoin takes a lot of energy to mine and use. As of May 2021, a single Bitcoin transaction takes as much energy as 760,201 VISA credit card payments (source). To keep this in context, the world banking system uses about two times as much energy as the Bitcoin network (source)
  • Bitcoin is difficult to mine. GPUs and CPUs don’t have enough computing power to compete with other miners, meaning so-called Application-Specific Integrated Chips (ASICs) are required. These are expensive – generally in the range of $1000 to $6000, depending on how new the model is (source). This restricts Bitcoin’s mining pool to people and groups who have enough wealth to invest in ASICs, which threatens the goal of keeping cryptocurrency decentralized.
  • Bitcoin transactions can take a long time to be confirmed. The average time for a transaction to confirmed once is 10 minutes (source), but for a payment to be absolutely final, it needs to be included in multiple blocks to ensure consensus in the mining pool. This takes even longer, sometimes up to one hour (source, for 6 confirmations).
  • Bitcoin transactions require expensive mining fees. At the moment, the average fee for a single transaction is $14.35, making Bitcoin unsuitable for day to day use (source).
  • Bitcoin lacks many features available in other coins, including smart contracts (programs run on and enforced by the blockchain, see here), anonymity (source), and CPU mining (allowing anyone with a CPU to mine, thus making the network more democratic and less susceptible to being taken over by large groups).

Crypto is definitely a good way to make money. However, you might end up finding the tech interesting. I know that I sure did, and having a sound understanding of your investment will make a big difference in your ability to hodl. It doesn’t have to be much, just a few YouTube videos.

Strategies when it comes to cryptocurrencies
The HODL’er: you buy and basically you never sell. It’s kind of the holy grail of strategies when it comes to crypto according to this sub. Buy and forget and check back 10 years later. You’re a millionaire, Harry! No stress and no maintenance. You can even buy more over time and continue stacking your fat holdings. Do this if you believe in crypto long term

The Goal Setter: set a goal and sell when you reach that goal. Maybe it’s 3x and I’m out. Or maybe it’s make enough for student loans and I’m out. Or maybe it’s $1MM and sell half. Can be anything. Stress depends on your goal.

The Active Trader: Buy high and sell low

The Swing Trader: Some people are good at trading – they usually wait for those days where the whole market bleeds 20-30% in a day then they buy and wait for the bounce and they sell. Rinse and repeat. But they also risk missing out on the rocket jumps. But they also minimize the risk of being in the market when there’s a crash. In the end they might be able to increase their total holdings but for most beginners they lose rather than win. High stress and high maintenance.

The Cycle Trader: you DCA in during the bear market when everything has lost 80-90% of its ATH (alternatively, a year before the Bitcoin halving). Then you slowly sell off everything approximately a year after crypto starts trending up and enters a bull market. So this method has worked well for many people – they don’t necessarily time the top right but they continue to increase their holdings over several cycles. This might be the smart move if you have discipline. The risk is that history no longer repeats itself. It has worked the past 2 cycles but it’s not guaranteed it’ll work again. Medium stress, low maintenance

The Arbitrager: usually they have algos do the trading for them. They minimize risk and just arbitrage the price differences between exchanges. They might not care about crypto and just want to make money. They miss out on the bull run but also miss out on the bear market. Low stress, medium maintenance.

The Moon Chaser: 1000x or bust. Forget $10K eth or $100K btc, they want the next shiba or safe moon. They buy coins with market caps in the millions and hope for the pump to sell. This is like the lottery ticket buyers of crypto. High stress, high maintenance, smooth brain

The correct mentality for investing in the crypto market is thinking in YEARS not MONTHS.

Crypto: What to do in the bear market

HODL, dont sell with a loss if you believe in your Coin long term.

Stake, staking is really important! I cant tell you enough, if we are in a bear market and you can stake for a few years you can easily get 20-30% more coins then you have right now.

DCA, keep buying. The bear market is where you DCA, dont stop buying. Right now is where you can get coins cheap! Just dont stop DCAing cause you are scared! Pick projects you believe in long term and keep buying at low prices!

Get rid of coins you dont believe in long term, shitcoins. Many wont survive the bear market.

Research coins for the next bull run!

Crypto Currency Market Cap Visualized during the Pandemic

Top 100 Cryptocurrencies by Market Cap

How crypto could change the world and Why Cryptocurrency was invented in the first place.
Data Source from

Latest News on Crypto:


1- Reddit

2- Reddit


4- NYDIG Power of Bitcoins Network Effect

5- The original Cypherphunk vision

6- Unlike Gold, BTC is a digital asset that is easy to move around


NFT Crypto Blockchain Bitcoin Top Stories – Breaking News

  • Let's help me to sell my first NFT 🙏🔻
    by /u/Aramh8888 (NFT) on May 30, 2023 at 5:56 pm submitted by /u/Aramh8888 [link] [comments]

  • Japan's largest airline launches NFT marketplace
    by /u/kirtash93 (Cryptocurrency News & Discussion) on May 30, 2023 at 5:36 pm

    submitted by /u/kirtash93 [link] [comments]

  • What do you fear the most about crypto's future, and why?
    by /u/Willyougrabham (Cryptocurrency News & Discussion) on May 30, 2023 at 5:36 pm

    I feel it's somewhat safe to say that since we're all part of this sub, we're bullish on crypto's future, and even if you don't think it'll be a major force in the world it'll at least continue to grow and become more widely adopted as time passes. Or will it? Do you ever doubt? Is there any specific fear regarding crypto's future that you don't tell anyone but it keeps nagging at the back of your mind? If so, this is the place to air it out. As for me, I fear crypto will grow big, but in the end it'll become only another tool for the powerful to control those beneath them, a world of whales in a way. submitted by /u/Willyougrabham [link] [comments]

  • Opinion: Bitcoin ordinals were doomed to fail
    by /u/Pooky135790 (Cryptocurrency News & Discussion) on May 30, 2023 at 5:23 pm

    We can see today, a few weeks after the hype of BRC-20 tokens and Ordinals, that the excitement and trading volume has dramatically decreased. ​ Personally, I think that it is not very surprising, and that Bitcoin ordinals were always doomed to fail and here is why: (I know some of you will claim that this is just hindsight, so feel free to look at my previous posts. I have always been critical of ordinals) Bitcoin does not need ordinals and tokens. I think that one of the main reasons why it was doomed to fail is that there was no use case, no need for them. We already have built infrastructure and multiple chains dedicated and meant to support tokens, NFTs and smart contracts. BTC is not meant for that Much more complicated. Similarly to the previous point, other chains have a lot more infrastructure ready for these things. There are not as many options for BTC ordinals and tokens High gas fees. Ordinals pushed the gas fees into unseen territory. This is not sustainable, and I think many realized this, leading to the fall of ordinals There are a couple of different reasons, but I don’t feel like listing them all here ​ Do let me know if you think I’m wrong or disagree with me, or if I missed any points As always, good luck and happy trading submitted by /u/Pooky135790 [link] [comments]

  • Do you like my Moon Men give me a yes or no thank you
    by /u/Edens_Door (NFT) on May 30, 2023 at 5:17 pm

    submitted by /u/Edens_Door [link] [comments]

  • Investing in Crypto firms has now dropped to $500M per month from our peak at $7B per month in 2021. That‘s a 93% drop!
    by /u/partymsl (Cryptocurrency News & Discussion) on May 30, 2023 at 5:17 pm

    Maybe take a break now from watching how many of our altcoins are down 70% or more with BTC too still struggling, and now look at some other more “fundamental“ charts. Another way to measure the hype in Crypto may be through how many firms are jumping on the Crypto train to just use some fancy buzzwords for their next board meeting. Yeah, with every hype in the finance world, from Metaverse to now AI, there have been massive and blind investments done. Crypto is no different, maybe some people still remember how in 2021 we had so many firms talking of how they are “integrating“ Crypto or the Blockchain technology. Barely anything happened of that afterwards as a bear market came and only a few stood true to their promises. ​ Crypto Funding Chart, showing investment flows into Crypto Here we can see a chart that shows exactly that, the Funding in Crypto through many firms. We see how there have been two peaks, in 2018 at $3B per month and in 2021 with $7B per month. Which is a lot of money flowing in Crypto from VCs and others. But right now it is not so shinny, we are at $500M per month spending, which is still higher than our low during the previous bear markets. But this massive 93% drop just shows how much unsustainable hype and fuss around Crypto really created from those VCs and to imagine that this number will just get bigger and bigger. Crypto will be a very well-known phrase in the business world, it is is not already. submitted by /u/partymsl [link] [comments]

  • Easily Designed Smart Contact Platform, Marlowe, Now Live On Cardano Mainnet
    by /u/sillychillly (Cryptocurrency News & Discussion) on May 30, 2023 at 5:03 pm

    submitted by /u/sillychillly [link] [comments]

  • Best Crypto PR Agencies - Top Choice For 2023
    by /u/GrowthChain (NFT) on May 30, 2023 at 4:58 pm

    submitted by /u/GrowthChain [link] [comments]

  • Decentralized exchange PancakeSwap moves into GameFi
    by /u/TR5_ (Cryptocurrency News & Discussion) on May 30, 2023 at 4:20 pm

    submitted by /u/TR5_ [link] [comments]

  • Volcano Golem | Epic Cosmocard
    by /u/C0sm03d (NFT) on May 30, 2023 at 4:02 pm

    submitted by /u/C0sm03d [link] [comments]

  • Seven Arrested After Allegedly Trying to Steal Bitcoin ATM in Texas
    by /u/Elie0_0 (Cryptocurrency News & Discussion) on May 30, 2023 at 3:58 pm

    submitted by /u/Elie0_0 [link] [comments]

  • Ethereum (ETH) Price Bounces to $1,900: What's Next?
    by /u/Marketing_Usual (Cryptocurrency News & Discussion) on May 30, 2023 at 3:43 pm

    submitted by /u/Marketing_Usual [link] [comments]

  • Only 6.5% solo stakers on Ethereum???
    by /u/CardanoCrusader (Cryptocurrency News & Discussion) on May 30, 2023 at 3:03 pm

    Is this true? Of the 500k validators, they estimated that 6.5% of validators (by index/pubkey) were solo stakers on the Beaconchain based on a confidence score of 50% or greater. 3.3% were strongly predicted as solo with 99% confidence or above, 1.1% were 95% to 99%, 0.35% were 90% to 95%. If solo staking is a core design principle, and only 6.5% of stakers are solo stakers, then what happened to the core design principle? EDIT: BTW, this 6.5% includes RocketPool, which is considered "solo" staking for purposes of this study. So... dayum. submitted by /u/CardanoCrusader [link] [comments]

  • active auction see comments for link
    by /u/GoMiBo (NFT) on May 30, 2023 at 2:38 pm

    submitted by /u/GoMiBo [link] [comments]

  • Everything you need to know about Ethereum Gas Fees
    by /u/Maxx3141 (Cryptocurrency News & Discussion) on May 30, 2023 at 2:34 pm

    I often see people confused about how Ethereum fees work or why transactions fail. So let's try to explain everything you need to know about Ethereum gas fees! The concept is also true for sidechains and L2s like Polygon and Arbitrum (Nova)! Especially when I talk about failed transactions and how to fix it, this is more intended for cheap L2s and not the main-chain where each mistake costs you 10$! Note only the first three paragraphs are required for the basics, the later part explains why the most common problems happen and how to resolve them. What is gas? Simply speaking: Gas is the amount of work a certain transaction causes for the network. This will only depend on the transaction, and be fully independent of the current load of the network. Some examples can be seen in this table: Type Gas ETH transfer 21,000 ERC20 token transfer ~50,000 Uniswap V2 Swap ~105,000 Uniswap V2 Add Liquidity ~130,000 Uniswap V3 Swap ~130,000 Uniswap V3 Add Liquidity ~450,000 As you see, the only thing that can be exactly estimated is an ETH transfer, this is the minimum fee. Different token contracts can require different fees and for DEXes the gas fee can even vary a lot more. You have basically no control over the gas usage, your wallet will automatically set a gas limit. We will look into this later again. The gas fee The gas fee is the amount of Gwei you pay per unit of gas your transaction consumes. This will depend on the current load of the network and is basically "auctioned", meaning the validators will include the transactions with the highest gas fees. You can see an estimate for the current gas fees on gas trackers like the one from Etherscan. One Gwei is 10-9 ETH = 0.000000001 ETH. Simplified, you will pay one gas fee per unit of gas your transaction consumes: Fee = Gas Units * Gas Fee. The London upgrade changed this forumula a little bit by splitting the gas fee into base fee and priority fee: Fee = Gas Units * (Base Fee + Priority Fee) Your "max base fee" must be larger than the Base Fee set by the network, and your Priority fee is the tip you give the validator. The larger the tip, the more likely you will be included, especially in congested times. Note if the Max Base Fee is higher than the actual Base Fee, the difference will be refunded to you. The priority fee will always be paid. Example Let's say you make a Swap for 105,000 gas and the fee is 50 Gwei. The fee for the transaction is 105,000 * 50 Gwei = 5.25m Gwei = 0.00525 ETH = ~10$ Pending transaction If your transaction is pending, you set either the Max Gas Fee or the Priority Fee too low. You can compare your transaction, which should already be visible on the block explorer, with a gas estimator to see where to problem is. Especially if your Base Fee is too low, waiting will often not resolve the issue, you need to increase the fee. In Metamask you can do this pretty easy directly in the "Activity" tab by clicking on "Speed Up". This will actually broadcast a new transaction with the same Nonce, effectively overwriting the old transaction. That's why even "Canceling" a transaction will still require a small fee, because this just replaces the transaction with a zero-transfer to self or similar. If you want to make another transaction, you have to make sure you have no pending transaction left! Failed transactions and why they still charge the fee One important thing to understand: An ETH transaction fails because of the user and not because of the network. This can have different reasons, for example a critical error during a smart contract interaction, like a requirement missing or a bug. Even if your transaction fails, you pay the fee. Some find this strange, but it actually makes perfect sense. The validator did the work, but the transaction failed because of an error (of the user!). The fee is the only thing that stops an attacker to spam the network with endless impossible transactions. The reason this doesn't exist in Bitcoin: Bitcoin is not Turing Complete - if a transaction is valid or not can be determined by any node without needing a lot of computation power. In fact, a transaction can't fail on Bitcoin. Gas limit Any ETH transaction will include a gas limit - there is no way to know exactly how much gas a transaction will consume before it happens, so you set the maximum amount of gas a transaction is allowed to use up. No matter what happens, the tx will not consume more gas. Also a successful transaction will never consume more gas than it needs, no matter what the gas limit was set to. This one is super important, because from my experience it's the #1 reason a user will encounter a failed transaction. Usually your wallet or the website you are connected to will estimate the gas limit correctly. Sometimes however, especially after a contract got updated, a website will tell your wallet a wrong gas limit and the transaction will fail. Sadly, not all transactions will clearly say so on the block explorer. See this two trancactions which both failed because they ran out of gas: Transaction 1: Failed because of gas limit, gives clear error message Transaction 2: Failed because of gas limit, gives generic error message If you are not sure, you can check the actual gas limit in the failed transaction on a block explorer: A failed transaction with nearly 100% gas usage will often indicate your transaction actually ran out of gas: ​ To fix this, you have to broadcast the transaction again with a higher gas limit. If this happens on Nova, I usually just double the fee and this usually fixes the issue. If you set the gas limit to 2x or 10x of the first value, your next transaction will also be 2x or 10x more in fees if it fails again. Strictly speaking, there can be different reasons for a transaction reaching the gas limit - like a tx caught in an infinite loop. So try at your own risk! Edit fees in Metamask You can manually edit the gas fees (which consists of the base fee and priority fee) and gas limit in Metamask. The setting is a little hidden, but on each transaction you can reach it by first clickig at "Market" on the fee tab and then on "Advanced": Sources ETH foundation Etherscan gas tracker Gas Fee estimator showing gas costs TL;DR Gas fees on Ethereum are actually pretty simple: Your transaction consumes a certain amount of gas - more complex transactions (like a swap) require more gas than a simple transfer. The load of the network will determine the gas price. In the end you pay the gas fee for each unit of gas your transaction consumes. If your gas price is too low, your transaction will remain pending. If your gas limit is too low, your transaction will fail. submitted by /u/Maxx3141 [link] [comments]

  • All wallets should be required to mention the form of custody you get.
    by /u/thespygorillas (Cryptocurrency News & Discussion) on May 30, 2023 at 2:19 pm

    All wallets, should clearly mention the form of custody they provide upon wallet creation. Especially custodial ones, that should inform the user doesn't own their keys and thus their crypto. While that may be obvious to many of us here, some new adopters might not be aware of the two different types of wallets. Which will make many people make custodial wallets while thinking they actually own their cryptos, when in fact they don't. A regulation that forces these sites to clearly mention and prompt the user to accept should be the default, and it will teach all adopters the difference, so they can make their own choice. Some wallets might do it, but it shouldn't be optional, but forced upon all wallets. I feel like most CEXs profit off of the fact that people don't know the difference, and probably just mention it deep in their terms and conditions only. submitted by /u/thespygorillas [link] [comments]

  • 6 Reasons Not to Trust Crypto Influencers
    by /u/ImaFreemason (Cryptocurrency News & Discussion) on May 30, 2023 at 1:52 pm

    Please add your own reason. submitted by /u/ImaFreemason [link] [comments]

  • How I accumulate sats
    by /u/cryotosensei (Cryptocurrency News & Discussion) on May 30, 2023 at 1:39 pm

    The number of whole coiners has crossed the one million mark recently. So in addition to my DCA effort, I use the below apps and websites to get some sats to speed up my accumulation process. Now these apps won’t make you a lot of Bitcoin, but they are rather fun to do and are easy to do during your in-between-tasks time, so you may want to give these a shot. It’s the best way to get acquainted with the Lightning Network. Monetise my walking with the sMiles app Let ads run in the background with Slice (an Chrome extension) Read articles with the Bitcoin Magazine app Answer short quizzes with the Vestly app Watch advertisments and do surveys on faucets like Cointiply and FireFaucet Post Bitcoin-related stuff on Stacker News Vote for posts on Litstak Listen to podcasts on Fountain Do reviews on BTC-related on Apollo Best part of it all? I can transfer my sats conveniently to Kraken via the Lightning Network. It isn’t much, but it makes me feel that I’m in greater control of my BTC accumulation. Are you getting sats from the above mentioned apps and sites? Anything else that you would recommend? submitted by /u/cryotosensei [link] [comments]

  • GoMiBo_Art_Ropework_see comments for auction link
    by /u/GoMiBo (NFT) on May 30, 2023 at 1:31 pm

    submitted by /u/GoMiBo [link] [comments]

  • 2023: The Year the Crypto Market Finally Booms
    by Ranaali (Cryptocurrency on Medium) on May 30, 2023 at 1:10 pm

    After a sharp rise in 2017, the Cryptocurrency market has been in decline for two years. Bitcoin, which once traded above $20,000, fell to…Continue reading on Medium »

  • FiDi Joins Astar’s Builders Program
    by FiDi (Cryptocurrency on Medium) on May 30, 2023 at 1:09 pm

    FiDi is Officially Eligible For dApp Staking on Astar NetworkContinue reading on Medium »

  • FiDi Joins Astar’s Builders Program
    by FiDi (Blockchain on Medium) on May 30, 2023 at 1:09 pm

    FiDi is Officially Eligible For dApp Staking on Astar NetworkContinue reading on Medium »

  • The US presidential candidate said that the SEC should have people from the crypto community
    by BestChange (Cryptocurrency on Medium) on May 30, 2023 at 1:09 pm

    The head of MicroStrategy, Michael Saylor, initiated a poll on Twitter on whether US presidential candidates are required to support the…Continue reading on Medium »

  • Caduceus Weekly Report 62
    by Caduceus (Cryptocurrency on Medium) on May 30, 2023 at 1:08 pm

    Ecosystem & OperationsContinue reading on Medium »

  • Caduceus Weekly Report 62
    by Caduceus (Blockchain on Medium) on May 30, 2023 at 1:08 pm

    Ecosystem & OperationsContinue reading on Medium »

  • MASK Coin Price Prediction. Realistic Analysis Mask Network
    by Crypto4light (Cryptocurrency on Medium) on May 30, 2023 at 1:07 pm

    Part 1: What is Mask Network Coin?Continue reading on Medium »

  • Merkury IT | Ethereum Initial Coin Offering| Upcoming Cry..
    by Coin Gabbar (Blockchain on Medium) on May 30, 2023 at 1:06 pm

    Merkury IT (MEK) token sales are spread over 15 months with upward bonuses. The phasing of the collection allows for faster development of…Continue reading on Medium »

  • Merkury IT | Ethereum Initial Coin Offering| Upcoming Cry..
    by Coin Gabbar (Cryptocurrency on Medium) on May 30, 2023 at 1:06 pm

    Merkury IT (MEK) token sales are spread over 15 months with upward bonuses. The phasing of the collection allows for faster development of…Continue reading on Medium »

  • Merkury IT | Ethereum Initial Coin Offering| Upcoming Cry..
    by Coin Gabbar (Bitcoin on Medium) on May 30, 2023 at 1:06 pm

    Merkury IT (MEK) token sales are spread over 15 months with upward bonuses. The phasing of the collection allows for faster development of…Continue reading on Medium »

  • Hummingbot запустив історичну On-chain інтеграцію з Injective
    by Vitalii Ishchenko (Blockchain on Medium) on May 30, 2023 at 1:05 pm

    Hummingbot випустив нову on-chain інтеграцію з Injective, щоб впровадити в екосистему торговельну інфраструктуру нового покоління.Continue reading on Medium »

  • Hummingbot запустив історичну On-chain інтеграцію з Injective
    by Vitalii Ishchenko (Cryptocurrency on Medium) on May 30, 2023 at 1:05 pm

    Hummingbot випустив нову on-chain інтеграцію з Injective, щоб впровадити в екосистему торговельну інфраструктуру нового покоління.Continue reading on Medium »

  • आपका वेब3 परियोजना प्रस्ताव विकसित करने के लिए मार्गदर्शिका: ZK संस्करण
    by Mina Protocol India (Cryptocurrency on Medium) on May 30, 2023 at 1:03 pm

    *This is a translated version o f the original document.Continue reading on Medium »

  • आपका वेब3 परियोजना प्रस्ताव विकसित करने के लिए मार्गदर्शिका: ZK संस्करण
    by Mina Protocol India (Blockchain on Medium) on May 30, 2023 at 1:03 pm

    *This is a translated version o f the original document.Continue reading on Medium »

  • Qortal: Our Chance to Unlock the Hidden Potential of the Internet #crypto
    by Alex (Blockchain on Medium) on May 30, 2023 at 1:02 pm

    Qortal could help humanity to unleash its full potential by providing Internet that is free from centralization and monetary system. The…Continue reading on Medium »

  • Qortal: Our Chance to Unlock the Hidden Potential of the Internet #crypto
    by Alex (Cryptocurrency on Medium) on May 30, 2023 at 1:02 pm

    Qortal could help humanity to unleash its full potential by providing Internet that is free from centralization and monetary system. The…Continue reading on Medium »

  • DJ: May 30, 2023
    by Brian O'Hanlon (Cryptocurrency on Medium) on May 30, 2023 at 1:01 pm

    Focus List: FLNC, SWAV, RBLX, ARRYContinue reading on Medium »

  • A Collection of 42 unique force benders [OpenSea Newcomer]
    by /u/PGN_I (NFT) on May 30, 2023 at 12:57 pm

    ​ submitted by /u/PGN_I [link] [comments]

  • The Looney Goonies are more than just an NFT collection, we want you to connect with your Goonie 🤗 With over 392 traits combined to create 7 quintillion combinations, we made sure every Goonie had a unique story to tell 📖 On June 14th, what will your Goonie's story be?
    by /u/LooneyGooniesNFT (NFT) on May 30, 2023 at 12:56 pm

    submitted by /u/LooneyGooniesNFT [link] [comments]

  • The popularity of memes is the end of the bull market丨Stablecoin market cap has shrunk by $7.3
    by SuperEx (Blockchain on Medium) on May 30, 2023 at 12:55 pm

    In the crypto market, there is a saying that “the popularity of Memes signifies the end of a bull market.”Continue reading on Medium »

  • Introducing Qitmeer Network: A High-Performance Public Blockchain
    by Donatus Deborah (Blockchain on Medium) on May 30, 2023 at 12:55 pm

    Qitmeer Network is a public blockchain that operates on the MeerDAG consensus, with the goal of offering extensive solutions for…Continue reading on Medium »

  • Chia Network: The Green Solution to Blockchain’s Energy Problem
    by Platinum Crypto Academy (Bitcoin on Medium) on May 30, 2023 at 12:52 pm

    In the crypto world, there’s a new sheriff in town, and it’s got a green badge. Meet Chia Network, the blockchain platform that’s making…Continue reading on Medium »

  • Chia Network: The Green Solution to Blockchain’s Energy Problem
    by Platinum Crypto Academy (Blockchain on Medium) on May 30, 2023 at 12:52 pm

    In the crypto world, there’s a new sheriff in town, and it’s got a green badge. Meet Chia Network, the blockchain platform that’s making…Continue reading on Medium »

  • Web3 Wallet Development: Creating Secure and User-Friendly Wallets for Blockchain Transactions…
    by Solidity Academy (Blockchain on Medium) on May 30, 2023 at 12:51 pm

    In the world of blockchain and decentralized finance (DeFi), Web3 wallets play a crucial role in enabling users to securely manage their…Continue reading on Medium »

  • Morning Call
    by Guido Malato (Bitcoin on Medium) on May 30, 2023 at 12:50 pm

    Tudo combinado, nada resolvido. O mercadão está satisfeito com o acordo proposto para o teto de gastos americano que ainda tem, como diria…Continue reading on Medium »

  • Finance on blockchain: How utility blockchains will revolutionize global finance
    by Dacxi Chain (Bitcoin on Medium) on May 30, 2023 at 12:49 pm

    While much of the focus on blockchains in recent years has been on the speculative price of the tokens issued on them, thankfully, things…Continue reading on Medium »

  • The wisdom that every crypto investor is seeking
    by Long Term Coin (Bitcoin on Medium) on May 30, 2023 at 12:47 pm

    The vital part of becoming a successful investor is to find undervalued cryptocurrencies. Finding such coins is the ultimate reality for…Continue reading on The Capital Platform »

  • Alchemy Pay Cripto On-Ramp brilla en Bitcoin Miami
    by Alchemy Pay Español (Bitcoin on Medium) on May 30, 2023 at 12:41 pm

    Podría decirse que uno de los mayores eventos del calendario de la industria de las criptomonedas es la Conferencia Bitcoin, que se…Continue reading on Medium »

  • Great Architect of the Universe I!
    by /u/Technical_Use_7649 (NFT) on May 30, 2023 at 12:40 pm

    ​ freemasson submitted by /u/Technical_Use_7649 [link] [comments]

  • ONG Bitcoin Argentina realiza el traspaso de una antorcha en Lightning Network para promover la…
    by ONG Bitcoin Argentina (Bitcoin on Medium) on May 30, 2023 at 12:37 pm

    Organizada como anticipo del armado de la primera “₿” humana gigante de la historia, que se realizará el próximo 10 de junio en el Campo…Continue reading on Medium »

  • Sats Hunting: Finding rare sats within Bitcoin’s history
    by Sats Hunters (Bitcoin on Medium) on May 30, 2023 at 12:34 pm

    Are you a crypto enthusiast looking for a new adventure? Have you heard of Sats Hunting? If not, get ready to be amazed. Sats Hunting is…Continue reading on Medium »

  • Ron DeSantis Posturing On Bitcoin Is Just Performative Politics
    by /u/bemyking (Cryptocurrency News & Discussion) on May 30, 2023 at 12:34 pm

    submitted by /u/bemyking [link] [comments]

    by Crypto Banter (Bitcoin on Medium) on May 30, 2023 at 12:33 pm

    Nvidia has taken to the headlines as it approaches a $1 Trillion Market Cap. Today we compare the data and show you the 2 BEST AI Crypto…Continue reading on Medium »

  • Satoshi’s Coins
    by Financial Privilege (Bitcoin on Medium) on May 30, 2023 at 12:31 pm

    Most people are worried Satoshi could dump his million coins into the market crushing the price but the system would exactly work the same…Continue reading on Medium »

  • Security firm discovers $500M vulnerability in Tron multisig accounts
    by /u/Beyonderr (Cryptocurrency News & Discussion) on May 30, 2023 at 12:26 pm

    submitted by /u/Beyonderr [link] [comments]

  • An exchange, BKEX, servicing 8 million people in over 100 countries has suspended all withdrawals to aid a police investigation with"gathering evidence". This is confusing, frightening and ridiculous in another great example of not your keys. Withdrawals currently remain suspended since yesterday
    by /u/OneThatNoseOne (Cryptocurrency News & Discussion) on May 30, 2023 at 12:21 pm

    Yesterday, BKEX put of a statement regarding withdrawals from their platform. ​ BKEX has suspended all withdrawals due to cooperating with a police investigation that pertains to money laundering that either directly or indirectly affects their platform. .That must be frightening for users. Ironically, they state that the rights of users are protected even though the most significant one of your right to withdraw isn't part of that. They also state you may contact customer support for issue and "they would be happy to provide support and assistance" as long as it doesn't involve withdrawals It also completely ridiculous that all customers have to suffer for this. Imagine if banks would suspend withdraws for money laundering investigations. They'd probably have to shut down and freeze withdrawals very nearly every day. Further, it's very confusing that withdrawals are frozen for gathering evidence. It makes it seem like some thing very shady is going on in the background because company and transaction records are supposed to be present whether withdrawals are active or not. They don't just disappear when withdrawals are active. Ironically, if this Cefi transactional activity being investigated happened on-chain like crypto is supposed to work all the evidence would be public. I would also think that actually leaving withdrawals active would allow for more evidence-gathering since the criminals could potentially leave more traces. It's clearly that something else that's very shady is going on besides what they and media reports say. BKEX is based in British Virgin Islands known as a tax haven and shady financial activity, on top of BKEX having Chinese ties(use Yuan as default currency and parts of the English website in Chinese). Nothing against the Chinese, but proper regulation and transparency aren't their strong suits as we well know. submitted by /u/OneThatNoseOne [link] [comments]

  • The Dos and Don’ts of NFT Marketing
    by /u/charles_david1600 (NFT) on May 30, 2023 at 12:16 pm

    submitted by /u/charles_david1600 [link] [comments]

  • Join the Psycho MEOWS kindle Community, NFT and much more
    by /u/RoneyLaurent (NFT) on May 30, 2023 at 12:14 pm

    📢 Calling all early adopters of NFT projects! Join the vibrant world of Psycho MEOWS on and embark on an exciting journey into the NFT universe. As an early adopter, you hold a special place within our community. 🏆 At Zealy, we value community engagement. That's why we've created a unique leaderboard exclusively for active users. Engage in quests, discussions, and connect with fellow NFT enthusiasts to climb the ranks and earn recognition. Exciting opportunities await! 💎 By actively participating and demonstrating your commitment, you'll have the chance to unlock unique rewards and collaborate with us directly. Join us on, invite your friends, and make your mark in the world of NFTs. Let's build something extraordinary together! submitted by /u/RoneyLaurent [link] [comments]

  • GoMiBo_Art_NFT auction 30 minutes remain
    by /u/GoMiBo (NFT) on May 30, 2023 at 12:12 pm

    submitted by /u/GoMiBo [link] [comments]

  • Untitled this is an artwork that I created
    by /u/TechnologyDazzling55 (NFT) on May 30, 2023 at 11:56 am

    submitted by /u/TechnologyDazzling55 [link] [comments]

  • PEPE site homepage has a frog, pants down butt out and pissing on memecoin logos. PEPE pumps and dumps multiple times everyday. The same PEPE that is by far one of the most well-known and easily in top 100 most valuable tokens by market cap. This is embarrassing for the "future of finance" in crypto
    by /u/OneThatNoseOne (Cryptocurrency News & Discussion) on May 30, 2023 at 11:42 am

    PEPE is by far one off the most popular tokens. It was ranked in the top 50 tokens after hitting very nearly a 2 Billion market cap. Even today it still sits in the top 100 after losing over a Billion of market cap. It saw insane price increase of 1000% in a week, even before the Binance listing which again doubled the price. If you ask someone to randomly name a few crypto tokens, PEPE will probably be in that list. There's definitely very few in crypto who haven't heard of PEPE. Yet, we don't have to dig very deeply to be disappointed. The pepe website homepage is pretty barebones and poorly done, probably by design, but the worst part is definitely this. One of the most premier tokens has this as an advertising banner. I saw a document that claimed to be the whitepaper use a lot of material of this homepage in it, but it's unclear if there actually is an official whitepaper at all. Regardless of an official whitepaper or just the official website, this is pretty bad. Of course the whole roadmap and pitch with Phase 1 MEME etc is pretty poor as well. The about section ironically call out the ridiculousness of modern memecoins(or mostly sh*tcoins realistically) but also just buys right back into it for self-shilling. ​ I mean, yeah, we get that it's a memecoin. But Dogecoin never had to go nearly this far. As a matter of fact, Doge looks ridiculously respectful and decent compared to modern memecoins. For this token to be essentially the premier memecoin, as well as one of the most popular tokens across the board says a lot. submitted by /u/OneThatNoseOne [link] [comments]

  • Reddit Hits $32M in NFT Sales. 10M Holders Since Web3 Launch
    by /u/mvea (Cryptocurrency News & Discussion) on May 30, 2023 at 11:25 am

    submitted by /u/mvea [link] [comments]

  • Hey! I am a street photographer. Can i take your pictures?
    by /u/Cool-Prior-2220 (NFT) on May 30, 2023 at 11:24 am

    submitted by /u/Cool-Prior-2220 [link] [comments]

  • Open source code: yay or nay?
    by /u/imm_uol1819 (Cryptocurrency News & Discussion) on May 30, 2023 at 11:20 am

    EDIT: what I'm trying to discuss here is the trade off between transparency and competitive advantage. On Ergo (where every dapp, wallet etc is open source), innovative dapps' open source code was "stolen" by bigger, well established projects The Ledger debacle has started a wider debate in the crypto space about the pros and cons of open source code. Closed source dexes have often been victims of mysterious hacks; closed source code allowing for devs misbehaviours without anyone else noticing. Open source dexes too, however, risked getting drained due to faulty code being out in the open, like it was the case for Minswap DEX on Cardano when it first launched: The most interesting case, however, is Ergo: a utxo PoW chain like BTC but with smart contracts. On Ergo, everything is open source: from community built dapps, to DeFi protocols, to wallets. This allowed new devs to easily create their own dapps in only a few days, such as a casino and a NFT search tool. However, it also allowed for copy-pasta DeFi protocols: Cardano's AnetaBTC (wrapped Bitcoin provider) took advantage of the open source code of Ergo Rosen Bridge to create their own BTC to Cardano/Ergo Bridge. The example above shows how open source puts devs at risk of seeing their work "stolen" by people with much better marketing skills, discouraging innovation driven by new entrants. What's your take on open source code? How do we find the perfect trade off between transparency and monetization of dapps? submitted by /u/imm_uol1819 [link] [comments]

  • Drawing of animals with colored pencil technique
    by /u/FJafari36 (NFT) on May 30, 2023 at 10:16 am

    submitted by /u/FJafari36 [link] [comments]

  • Musician LineUp Concept Art - @misfittsx
    by /u/misfitts_x (NFT) on May 30, 2023 at 9:34 am

    submitted by /u/misfitts_x [link] [comments]

  • Cryptocurrency market struggles with transparency
    by /u/FattestLion (Cryptocurrency News & Discussion) on May 30, 2023 at 9:32 am

    submitted by /u/FattestLion [link] [comments]

  • Bitcoin Headed for First Monthly Loss in Six Months
    by /u/economist_kinda (Cryptocurrency News & Discussion) on May 30, 2023 at 8:10 am

    submitted by /u/economist_kinda [link] [comments]

  • Bitcoin selling for $5K cheaper on Binance Australia as fiat ramp closes
    by /u/dcdplex (Cryptocurrency News & Discussion) on May 30, 2023 at 6:25 am

    submitted by /u/dcdplex [link] [comments]

  • Suggestion: "Not open source, not your wallet" should be a crypto mantra.
    by /u/Awhodothey (Cryptocurrency News & Discussion) on May 30, 2023 at 5:43 am

    Too many words have been wasted over Ledger, and people seem to be oblivious to the main problem here: closed source crypto wallets are idiotic. They have been a serious problem for a long time, and there's no reason they should exist or that you should ever use one. Any project or developer that suggests you should put your crypto in a closed source wallet for their dapp or chain should be called out and discredited for admitting that they do not give a rat's ass about decentralization or crypto. Closed source completely defeats the purpose of crypto. It would be smarter to sell your crypto and put your money in a bank than to trust a closed source wallet written by your favorite crypto Twitter team. You might as well KYC and trust Venmo, PayPal or Zelle instead. At least you will know who stole your money. Edit: OS hardware wallets do exist and you can even build your own with OS code. Edit: Rebuttals to fallacious arguments: 1) "Well you have to have to have faith in science so you might as well have faith in the most implausible stories about sky daddy." Closed source software that can connect itself to the internet is 1000x more risk than proprietary hardware that cannot, but with zero benefits. Notice that I intentionally never mentioned Trezor or Jade because the debate about what you do instead of putting crypto is a mystery box that can unilaterally send your data to the developer is way less important. 2) "There's no way you can keep anything from ever being stolen, so you might as well leave your keys in your car." It's debatable if any hardware could ever be uncrackable. And that's a red herring. You dont have to use a Trezor and your backup keys can always be physically stolen no matter what you do. The idea of having 100% security when someone physically possesses your wallet is a myth, and a totally unrealistic standard by which no other thing would be held to. Needing to physically access the device is not comparable to the risks of closed source software. 3) "Open source doesn't make a bug/attack impossible." Of course not, but it's still a basic first step that always adds trust if you don't do it. Again, taking your car keys with you doesn't guarantee it won't get stolen, but it's the least you can do, and if you aren't going to do it, then you are saying that you do not care about it. OS is a fundamental axiom of crypto. If you disagree with it, then there's literally no reason for you to use crypto. submitted by /u/Awhodothey [link] [comments]

  • Bankman-Fried charges should not be tossed, prosecutors say
    by /u/dcdplex (Cryptocurrency News & Discussion) on May 30, 2023 at 4:36 am

    submitted by /u/dcdplex [link] [comments]

  • CoinbaseNFT, ethereum collection, ‘cysix’
    by /u/cysixsage (NFT) on May 30, 2023 at 4:29 am

    submitted by /u/cysixsage [link] [comments]

  • Robert Kennedy Jr Slams SEC for Protecting Banks Instead of American People — Calls for Crypto-Friendly Commissioners – Bitcoin News
    by /u/Safe_Boot677 (Cryptocurrency News & Discussion) on May 30, 2023 at 2:25 am

    submitted by /u/Safe_Boot677 [link] [comments]

  • Black and red ink on paper / By Fer Sassali
    by /u/fersassali (NFT) on May 30, 2023 at 1:46 am

    submitted by /u/fersassali [link] [comments]

  • Who takes Game 7 👀 Heat or Celtics - Comment below 👇
    by /u/LooneyGooniesNFT (NFT) on May 30, 2023 at 1:16 am

    submitted by /u/LooneyGooniesNFT [link] [comments]

  • Join an amazing and affordable NFT Community 😺 !
    by /u/mattia_m78 (NFT) on May 30, 2023 at 12:44 am

    submitted by /u/mattia_m78 [link] [comments]

  • Lazyfarm NFT - Minting is Live. Join the Eco-friendly NFT Community now!!
    by /u/LazyfarmNFT (NFT) on May 30, 2023 at 12:01 am

    submitted by /u/LazyfarmNFT [link] [comments]

  • Daily General Discussion - May 30, 2023 (GMT+0)
    by /u/CryptoDaily- (Cryptocurrency News & Discussion) on May 30, 2023 at 12:00 am

    Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.   Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first.   Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.   Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily General Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]

  • Envenomed Waltz / Tezos NFT on Objkt / 3d model jellyfish / link ⤵️
    by /u/Altruistic-Web5361 (NFT) on May 29, 2023 at 9:03 pm

    Tezos NFT. 3d model created in VR. submitted by /u/Altruistic-Web5361 [link] [comments]

  • ARVRtise OrdinalX NFT Marketplace
    by /u/what3bars (NFT) on May 29, 2023 at 8:52 pm submitted by /u/what3bars [link] [comments]

  • 'q6', Marcel Muntyanu, 3D, 2022
    by /u/galacticMorocco715 (NFT) on May 29, 2023 at 7:19 pm

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  • Island Journey 1 of 1 PFPs, Trading card on SUI blockchain
    by /u/Existing_Cockroach_1 (NFT) on May 29, 2023 at 11:10 am

    submitted by /u/Existing_Cockroach_1 [link] [comments]

  • BANNERS 4 MOONS Contest! Top banners will win from a total pool of 2,500 MOONS (1st prize 500 MOONS, 2nd prize 125 MOONS), as voted by the community! Starts Sunday 28 May 2023 from 6 pm EDT, ends in 1 week!
    by /u/jwinterm (Cryptocurrency News & Discussion) on May 29, 2023 at 12:29 am

    submitted by /u/jwinterm [link] [comments]

  • I'm Yat Siu, co-founder and exec chairman of Animoca Brands. Big tech companies control our data, and I'm fighting to get it back through NFTs. AMA.
    by /u/coindesk (NFT) on March 8, 2023 at 1:00 am

    PROOF: I'm Yat Siu, co-founder and executive chairman of Animoca Brands, a company working to advance digital property rights and contribute to the establishment of the open metaverse. The world's most powerful companies are tech companies, and we, as users, contribute to their success by giving our data to them in exchange for their services. But it's not a very good deal, being the online equivalent of a medieval feudal system in which peasants work on the land owned by a lord, getting little in return and owning nothing. To break away from that, we need a decentralized system that can empower users with ownership and control of their own virtual goods and data, allowing them to enjoy economic freedom and the opportunity to build their own equity. Blockchain technology and specifically NFTs enable digital property rights for our virtual assets and our data, and are crucial to developing a more decentralized and equitable society. I believe in a world where NFTs form the basis of true digital property rights. Ask me anything. AMA with Yat Siu, Animoca Brands ----- EDIT: CoinDesk team here. Thanks for participating in our first Reddit AMA! If you enjoyed this conversation, Yat Siu joins us again to speak at Consensus 2023, our annual conference next month, April 26-28, in Austin, Texas. (Check out Microcosms, our new NFT Pass, and you can ask us anything about that too!) Here’s your 15% discount: YATAMA submitted by /u/coindesk [link] [comments]

  • Contacted by an "Art Buyer" on Instagram or Facebook? Click here.
    by /u/AsherFennec (NFT) on February 7, 2023 at 1:46 pm

    TL;DR: IF SOMETHING IS TOO GOOD TO BE TRUE, IT'S A SCAM. TREAT ANY EXTERNAL LINKS AS A SCAM OR PHISHING ATTEMPT. IF YOU HAVE TO PAY TO MINT ON OPENSEA, IT'S A SCAM. So, it's come to my attention that quite a few artists on Instagram and Facebook have been receiving messages from "seemingly legitimate" looking accounts saying that they want to buy their art for thousands of dollars. Any variation of this, regardless of the website or payment method, is a SCAM. The most common variant involves the scammer contacting you, saying they want to buy your art, then directing you to a website that they own which can range from something that looks like a middle schooler made it in a "web development" class to full blown clones of OpenSea. These are not hard to make, which is why there have been so many of these scammers going around and stealing funds. After this, they will ask you to make an account on the website, and say that you need to "deposit a gas fee" in order to upload your art as an NFT. This is not how uploading NFTs works. Gas fees are not deposited anywhere, but burned when you make a transaction moving Ethereum or any token on the Ethereum blockchain. The scammers will then take the fee that you sent to the "gas fee wallet" and then block you, leaving you with $300-500 less than what you had before. Another variant involves a scammer contacting you, going through the same steps before, but telling you to list it on OpenSea. They will send you a fake screenshot that says "the collection owner needs to send a maintenance fee in order to activate the collection," and the address included in the screenshot will simply be another wallet owned by the scammer. They will take your money and block you. When it comes to these scams, they can be avoided very easily. This is not meant to demean anyone, but do you really think some random person with "NFT ART BUYER" on their profile is going to message you of all people and offer you THOUSANDS OF DOLLARS for some jpegs? Obviously not. If you have any other questions or concerns of the legitimacy of someone that contacts you, feel free to contact us through modmail here. submitted by /u/AsherFennec [link] [comments]

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