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.

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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!

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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  • Obtaining info about my trust fund
    by /u/Weeaboo_Cannon (Financial Independence / Retire Early) on November 29, 2022 at 2:01 am

    I am trying to obtain information about a trust fund my parents set up for me. My parents made me sign and notarize a document that authorized a trust set up for me to be disbursed into my parents' bank account. Payments have been made once per year since I was 18 years old. I am currently 22. As far as I know, payments will be made until I am 26 (8 years). ​ I contacted a lawyer and they said that they would have to petition a court for my parents to provide me information about my trust fund as well as redirecting future payments to my personal bank account as well as requesting previous funds. I have an upcoming consultation next week where I am going to go into more detail about this. ​ Before my consultation, I would like to know if there is any way I can easily obtain info about the trust online. For the last several years I have been receiving many spam phone calls from financial companies based in Florida asking me if I'd like to sell my trust early and such, leading me to assume that this information is publicly accessible somehow. I would like to see if there is a way I can contact the trust fund company myself to see if I can redirect funds to my personal bank account without contacting a lawyer to sue my parents. ​ TL;DR: My parents made me a trust fund but the annual payments have been sent to their bank account ever since I turned 18. I don't know anything about the trust fund, and a lawyer I spoke to said I should sue my parents to disclose info about the trust, redirect future payments to me, and ask for past payments. Is there any way I can personally find info about my trust fund and maybe even contact the trust fund company to redirect the payments without going to court? submitted by /u/Weeaboo_Cannon [link] [comments]

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  • 9.5 Years of Tracking – Career Break and $250k NW @ 30
    by /u/nifFIer (Financial Independence / Retire Early) on November 28, 2022 at 3:03 pm

    TL;DR: Supportive, loving spouses and a great therapist are the best. Would highly recommend. Edit for clarity: Yes, spouse is very happy I quit and is happier with his QOL after I quit. He'd been trying to get me to quit for over a year and is now quite pleased with himself for being proved right. We regularly go to couples therapy to keep tabs on things such as resentment and dissatisfaction. His current financial goal is to get me to spend more money on myself... Yes, he's crazy. (Link to previous post dated 9/28/2021) Updated information is bolded, the rest is copied from previous post Summary of Family: Self - BS/MS Civil Engineering and EI PE License, Structural Design ($72k Salary + Overtime) Funemployed/career break, college paid for by scholarships + parents, immigrant parents fled communism and poverty Spouse - BS Computer Science, Front-End Engineer ($82k salary) ($155k salary + RSUs/Bonuses), college paid for by scholarships and minimal loans, immigrated as a child to flee a different flavor of communism Dog – Puppy kindergarten, Dog (Kibble salary) We rent an apartment and drive cars that are “hand-me-downs” from our parents car got totaled in a car accident (other dude ran a red light), so now we're waiting for our new car to be delivered, hopefully by the end of the year... Income/NW/Spending Summary Tables + Self NW Charts Annual Summary Table link 2022 Spending Summary Table Self Investments Chart vs Contributions link Self NW Chart link Notes: For NW calculation purposes, joint assets are split 50/50 and added to each individual’s NW. Low "Gross Income - Self" in 2022 is due to quitting partway through the year. Drop in "Single Net Worth - Self" in 2022 is due to moving pre-marital cash into marital cash intentionally to increase cash buffer while I'm not working. Total wedding reception cost was about $22k for 100 people. 100% worth it. Growing Up and College/Grad School (2011-2018): (See Previous Post) Self Working Full-time: Salary History (COL Index: 90.8): $64k (2018) -> $65k (2019) -> $68k (2020) -> Switch Jobs, $70k (2020) -> $73k (2021) -> $86k (2022) -> Career break, $0k (Present) The differences between my salary and the income listed in the tables are due to overtime pay and performance bonuses. My first job was extremely stressful and required lots of overtime to meet deadlines. I had multiple panic attacks or crying sessions after work, it was hard to sleep, I had to deal with a toxic project manager, my anxiety and stress levels were through the roof. Even though I loved my boss, I ended up switching jobs (thanks to the support of my SO for enabling this). I now work less overtime and have less responsibilities for slightly more salary, but it’s still pretty stressful. I’m still dealing with bad Project Managers, and we’ve been having some ridiculous deadline expectations recently. Currently working towards PE licensure. In 2022 I got my PE license and a few promotions, hence the large pay jump. Unfortunately, work stress and bad project managers led to me having panic attacks at work. After I gave it my best shot to stick through it, talk to my bosses, advocate/make changes, and communicate issues, I realized that change was unlikely. Multiple other coworkers and mentors validated my observations and supported my efforts, some coworkers quit due to similar complaints, and after half a year of waiting I accepted that change wasn't going to happen. I also got the bad news that I was locked out of promotions for another 3-5 years, even though my performance reviews repeatedly said I was performing at a much more senior level and while I was performing tasks of a Project Manager on my projects. I looked for other jobs, but got offers for $60-70k for similar responsibilities. So with the support and strong encouragement of my spouse and my therapist, I quit. 4 years of panic attacks, long hours, high stress, relatively low pay, and slow/stagnant career progression convinced me to leave a career that I was passionate about. Life, and where we go from here: For years my now-spouse has emotionally supported me through hard times and kept me grounded, and I’ve in turn helped him learn how to cook, develop a fashion sense, taught him personal finance, and develop his career. With him I’m “building the life I want, then saving for it.”. He’s not entirely on the FIRE train, but he’s 100% supportive and on board with me working towards FIRE and I’m willing to be flexible on spending budgets so he’s still happy (as long as we max out retirement accounts moving forward). We split bills 50/50 while dating/engaged and now have fully joint marital assets. I track spending and manage the budgets and we do roughly monthly meetings to discuss finances. We spend our “boring middle” time training and spoiling our dog, taking expensive dance lessons, playing video games, doing therapy, weight lifting, and enjoying food. Currently saving a lot of cash to buy a house hopefully next year because our apartment is feeling pretty cramped with WFH. 2022 update: Still saving up cash, but waiting on me to find new employment before we buy. Apartment is still feeling kind of cramped, but we love it. I recently connected my husband with one of my friends in the same industry, and thanks to that connection he’s starting a new job soon that will roughly triple his total compensation. This opens a lot more flexibility in our budgets and future plans. 2022 update: This happened and made my career break possible. Woo! I’m pretty unhappy with my current career (work/life balance and compensation) and my career isn’t very compatible with people who want to be active in their child’s lives. So I’m back to looking for new job opportunities for better work-life balance and a better team, but if I can’t find anything that works, we can live off of my husband’s income while I study programming and try to switch to sweet tech money/benefits. Being in a relationship/married has greatly benefited both of us emotionally and financially, and is letting us take greater risks with careers moving forward that could result in increasing the family income. 2022 update: This is in progress. Somewhat delayed by dealing with mental health recovery (burnout, healing from childhood emotional neglect, setting boundaries with family, depression, and spouse getting diagnosed with ADHD and PTSD). We've spent $5k on therapy this year (out of network) and it's been worth every cent. While it feels like I've been on the FIRE train for forever, I realize I've only been working full-time for 3.5 years ~4 years. We still have a long time to go, but we have a pretty good foundation for success in the coming years/decades. submitted by /u/nifFIer [link] [comments]

  • Daily FI discussion thread - Monday, November 28, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 28, 2022 at 10:02 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]

  • Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - November 28, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 28, 2022 at 10:01 am

    Need help applying broader FIRE principles to your own situation? We’re here for you! Post your detailed personal “case study” and ask as many questions as you like, or help others who’ve done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It’ll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody’s situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? submitted by /u/AutoModerator [link] [comments]

  • Weekly FI Monday Milestone thread - November 28, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 28, 2022 at 10:00 am

    Please use this thread to post your milestones, humblebrags and status updates 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! 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]

  • Daily FI discussion thread - Sunday, November 27, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 27, 2022 at 10:02 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]

  • For Those Aware of And Using the HSA Delayed Reimbursement Hack, What Approach Are You Using to Track Receipts For the Super Long Term (20-30 years)?
    by /u/bullshitaccount12345 (Financial Independence / Retire Early) on November 26, 2022 at 9:12 pm

    I was just made aware of this recently, but the short summary is that you can keep track of the HSA eligible expenses you paid for out of pocket and delay reimbursing yourself indefinitely. So you can let your HSA grow for 20 years, then take a reimbursement for whatever amount of medical receipts you have from ANY time in the past (that you had an HSA), and use that money for absolutely anything non medical related with no penalty or tax. If you have $10,000 worth of receipts, take a $10,000 vacation 20 years from now etc. The issue is you need to hold on to those receipts for that amount of time. What system are people using to keep track that will last for the long haul? I’ve heard of people saving receipt photos to google drive etc and then tracking everything in Excel or Google sheets. Just looking for ideas for the most elegant/most robust solutions out there that folks have used. https://blog.healthequity.com/hsa-hack-delay-reimbursement-cash-in-later submitted by /u/bullshitaccount12345 [link] [comments]

  • Daily FI discussion thread - Saturday, November 26, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 26, 2022 at 10:02 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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  • Daily FI discussion thread - Friday, November 25, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 25, 2022 at 10:02 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]

  • Weekly FI Frugal Friday thread - November 25, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 25, 2022 at 10:00 am

    Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! 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]

  • Daily FI discussion thread - Thursday, November 24, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 24, 2022 at 10:02 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]

  • My 25 Year FI Journey
    by /u/Able-FI-4906 (Financial Independence / Retire Early) on November 23, 2022 at 1:58 pm

    November marks my 25th anniversary working towards financial independence. I hope others might benefit from the observations I gathered over an extended timeframe of perseverance. I began adulthood with severe anxiety regarding finances. I developed FIRE-type thinking before FIRE was a commonly understood philosophy. My thinking developed through personal experiences and later through forums such as these. FIRE thinking helped me to overcome an unhealthy fear of becoming destitute while accelerating other life goals that have brought peace, contentment, and happiness to everyday life. This article documents that journey as a means to give back to a community which has given much to me. I hope it is informative, supportive, and motivating for everyone on their own journey. I will answer questions and offer additional perspective in the comments where possible. This is a throw away account and certain milestones have been obfuscated to create some semblance of privacy and anonymity, though all financial figures quoted are accurate. Outline About Me My FI Philosophy Milestones My Investment Philosophy My Expense Pattern My Evolving View Of FI Lessons & Observations About Me I achieved FI in 2017. I have no plans to RE. I am mid-40s living in a HCOL area. Married with no kids as we prefer partying over parenting. I grew up in upper lower class economic conditions around military bases. My parents struggled to save money outside of any retirement benefits afforded from their jobs. Frequently being unable to have the trips, food, clothes, and toys that the “other” kids had formed an indelible mark. There have been periods where I have had significant anxiety regarding financial safety. I work in tech. My wife is an overworked, underpaid social worker. My career began as a deeply indebted student and after graduation included jobs in training, engineering, product, executive leadership, startup CEO, investing, and governance. I write a well-read technology blog and authored 3 books that are now irrelevant. I travel extensively, sometimes for work, sometimes pleasure. I have visited 50 countries. I have a pilot’s license. I own 2 houses, a plane, 2 cars, and a boat. My FI Philosophy Live Life Below My Means. I should always be saving money, regardless of what my income level is. As long as I earn a W2 income from a job, my monthly expenses should be (on average) at least 50% below the average after-tax income. This also means that it’s OK to increase my spend on quality of life as my means has increased, though it wasn’t until my 30s before I practiced this without stress. As you'll see, having this policy is easier to state than to always follow. FI Definition. Because of my youthful anxiety towards money, difficulty in determining what a viable number of years “in retirement” might be, and debates as to what constitutes a Safe Withdrawal Rate (SWR), I chose to shape a personal definition. For me, FI is the ability to generate enough income from non-W2 activities such that my annual rate of expenses is covered. Income generation can happen from rents, selling volatility, interest, or dividends. In other words, FI is when my net worth continues to grow with or without traditional W2 income. This philosophy may change one day – either because the net worth pool is large or the expected number of years before death materially shrinks. Eliminate Debt, Even If It Is An Economic Mistake. After having bought and sold five different homes, I came to realize that the mental stress of having debt outweighed its economic benefits. Starting sometime around 2018, I decided to eliminate all possible debt, even 2% mortgage debt. While the arbitrage of investment results would have yielded a better overall economic outcome by keeping the debt, that financial gain could never be large enough to compensate for the anxiety-neutralizing-feeling of being “debt free”. Whatever I owned was owned by me alone, and in the unlikely event I were to become unemployed or without income, the future of those assets was solely in my control and not in conjunction with a bank. I execute this policy on life assets, such as my primary home and automobile, and toy assets, such as my plane. This, of course, requires a person to have enough assets to cover the debt, and it took me 15 years to achieve this threshold. Invest To Beat The Market. If I am willing to devote more energy and research time than others (at the cost of fun, family time, etc), then I should be able to make smarter decisions that yield higher results. Split investments into those things which are liquid vs. illiquid. Try to keep most of my available cash in liquid investments. I prefer (and try) to earn equity in illiquid investments through time-based contributions, sweat equity, carried interest, or as a job benefit. This doesn’t always happen, and I have had to outlay cash for angel investments, as a limited partner in a VC fund, and stock purchases for companies I’ve run. Never let others manage our money as they lack incentives to behave as an owner. As you’ll see, lacking this wisdom once cost me $3M in my early career. Milestones Year Net Worth Addl Illiquid Assets W2 Income Material Events 1997 -$95,685 $- $14,110 Pizza Delivery 1998 -$88,299 $- $25,906 Graduate Univ. 1999 $25,612 $- $104,155 Footnote #1 2000 $88,843 $2,700,954 $125,543 Emp. Equity! 🙂 2001 $247,777 $800,056 $232,223 Dotcom Bust 2002 $294,994 $- $144,987 Footnote #2 🙁 2003 $336,523 $- $283,847 First Home Buy 2004 $384,258 $- $207,411 Sold 1st Startup 2005 $436,189 $15,000 $138,845 1st Angel Investment 2006 $558,473 $15,000 $191,384 2nd Home Buy 2007 $614,038 $15,000 $204,448 3rd Home Buy 2008 $545,783 $15,000 $231,926 2009 $638,926 $15,000 $233,656 Footnote #3 🙁 2010 $1,009,650 $25,000 $427,404 2011 $1,333,754 $100,000 $384,681 Started 2nd Startup 2012 $1,637,200 $104,000 $89,187 Became VC Scout 2013 $1,966,303 $407,703 $255,000 2014 $1,777,266 $1,360,905 $230,000 Sold 1st Angel Investment! 2015 $2,313,846 $5,786,086 $243,750 1st VC Distribution 🙂 2016 $2,638,612 $5,210,121 $368,622 Startup Profitable 🙂 2017 $6,422,053 $6,162,527 $802,590 Startup Acquired 🙂 2018 $6,514,291 $7,805,654 $452,129 Paid Off Mortgages 2019 $8,202,434 $9,895,887 $561,954 3rd CEO Gig 2020 $8,079,164 $6,466,506 $801,151 2021 $7,414,909 $10,658,321 $998,761 Footnote #4 🙁 2022 $10,318,719 $9,457,050 $1,065,001 Strong Investment Returns Definitions: Net Worth: The value of all assets where I maintain liquidation control less all known or anticipated liabilities. The assets include fixed assets like my home, plane, and automobiles. While they are illiquid, the choice to effect a sale is within my control. The assets also include the net liquidating value of trading accounts, deferred compensation, 401K, IRAs, and checking accounts. The liabilities include any outstanding debts including mortgages and credit along with any future anticipated taxes that would be due from liquidating 401K, IRA or deferred compensation accounts. Additional Illiquid Assets: This is the mark-to-market (ie, my personal best guess) for the carrying value of additional assets for which I am entitled, but for which I have little control as to when or how they may become liquid. These include angel investments, the value of my shares of VC funds for which I am a limited partner, and carried interest for investments that were sourced as a VC scout. This value does not exclude anticipated taxes which is hard to calculate since some taxes are paid in advance of receiving distributions. It’s possible that the tax burden on the remaining distributions could be <20%. It’s possible that all these assets become worthless, but unlikely, as the $9.4M carrying value is spread across more than 3 dozen businesses and about half of those have already been sold or already profitable. W2 Income: The income received by my wife and I from our W2 jobs. Footnotes: I had an amazing thing happen about 18 months after university. I was working as a grunt in a consulting firm that had some acquisition interest from a large publicly traded company who was making aggressive moves into an area of technology where I had been tasked. The acquisition was moving fast and the firm needed to produce certain deliverables in a week that would normally require months. I stepped up and found a way to deliver the assets. The consultancy got acquired for what was a great outcome for the founder. Without expectation, he surprised me one day and offered to pay off my remaining $80K in student loans. I was hired by the acquiring company as a domain specialist and they doubled my income to $70K. The feeling can only be described as elation followed by a long cry. It was a powerful lesson in what the value of hard, dedicated work can bring. The dotcom boom and bust was another high and low time. The company that acquired me gave a nice pool of options. In the matter of a year, those options were worth nearly $4M at one point. It was intoxicating to watch the value increase nearly every day as the Nasdaq skyrocketed. I had cashed out some of the options when they were available, but most I did not. To make matters worse, I decided to exercise and hold a good chunk of the options which means that taxes were due on the paper profits. I ended up selling a bunch of options to pay those taxes to the tune of nearly $400K. At the time I was unaware of steps that I could take to protect the value of the options that were unvested or that insurance was available which could lock in their value. If I had known that I could spend 10-15% of the value of the options to lock in their value, I would have done it. But I was young and naïve and believing that stocks only go up. The company I was in had a public high of $98 and by the time the dotcom crash had settled they were down to $4. I was able to sell some of the options and netted a profit of around $300K and the government got to hold onto that $400K in early tax payments. It wouldn’t be until the financial crash in 2009 where I could finally reclaim most of these early tax payments to use as a deduction against income (see the next footnote). The financial crisis of 2008-2010 was a difficult time. I was sitting on three homes, had overpaid for the last home, and had mortgages on all three. When the housing crisis kicked in, I was nearly $750K under water across the three properties. You’ll note that my net worth somehow increased. I saved my bacon through research and a little help from the government. Turns out that if you can get a valid short sale offer in California then the bank will eat the losses on the underwater part of the mortgage. And further, Congress passed a law in 2008 or 2009 that allowed taxpayers to write off the loss for up to two years (the $750K mortgage write off is normally taxed as income). It effectively allowed me to sell two of the homes, walk away from the mortgages, and not owe any taxes. This turned into one boost to my net worth as I was starting to carry the losses against the net worth. The consequence was a massive hit to my credit which lasted 7 years. I had no plans to open new credit cards in that time frame, so felt like a good compromise. The other boost to the net worth was the final reconciliation of what happened in Footnote 2, where Congress allowed taxpayers to take any pre-paid taxes from previous years and to deduct 50% of what’s remaining each of the next two years. This dramatically reduced the income on which I owed taxes, gave me a huge refund for two years, and then boosted the net worth. While the stock market had one of its best years in a decade in 2021, it was one of my worst trading years at -21%. For reasons that will be described in future sections, most of my trading for IRAs and trading accounts (~85% of my liquid assets), are traded by selling volatility which is somewhat anti-correlated to buy-and-hold. Strong, unrelenting bull markets that have no price relief are difficult for this style of trading to do well and, thus, the performance hit. In spite of this negative performance, the year was a positive net worth year because of distributions from VC funds, the surprise sale of two angel investments, and a small secondary event (the opportunity to sell a portion of my equity) from the company for which I currently run. My Investment Philosophy Here are the cumulative returns across my investment accounts, 401K, and IRAs. These are all investments where I personally direct and control the nature of how the funds should be deployed. Year Return Material Events 1997 0% 1998 0% 1999 17.8% 401k 2000 9.5% 2001 (5.9%) 2002 1.4% 2003 7.8% Open first trading account 2004 5.9% 2005 16.2% Hired money manager 2006 12.9% 2007 14.2% 2008 (32.1%) Fired money manager 2009 31.1% 2010 2.1% 2011 12.9% Started volatility selling 2012 24.39% >80% of investable assets now in volatility selling 2013 3.93% 2014 (8.3%) 2015 57.5% 2016 24.04% 2017 (.6%) 2018 (.1%) 2019 32.7% 2020 (2.8%) 2021 (31.3%) Horrible year for volatility selling 2022 62.9% Great year for volatility selling My investment philosophy has shifted over 25 years. My current approach, which was enacted in its fullest amount in 2012, involves: 401K. Maximize my participation and get any employer match. These funds go into a fairly conservative 2030 fund which is mostly bonds a little bit of stocks. This currently accounts for 8% of my liquid investable net worth. IRA. Whenever I leave one job, I immediately rollover any 401K funds into a non-ROTH IRA. This accounts for 22% of my investable funds. The IRA trades by selling volatility through iron condors against broad-based indexes like NDX or SPX. Cash. I rotate my checking and emergency cash by investing into tbills, treasuries, and ibonds through Treasury Direct. This has yielded 0.2% to 5% depending upon how interest rates are fluctuating. I mostly do 8 week short term rollovers. It slows in the winter to make any cash needed for taxes available. This equates to 9% of my liquid investable assets. Brokerage. This is all of my other investable liquid assets. The brokerage trades by selling volatility through naked leveraged strangles in a portfolio margin account. This was a strategy that I developed a long time ago after spending dozens of weekends reading and learning about options. Selling volatility isn’t for the faint of heart, but if managed well you can reliably return 16% / year while assuming above average, but not “destroy you” risk. Over the years, I have tried to ‘tweak’ how I sell volatility to boost the returns and this generally has backfired. In 2020 during the down turn I decided to alter the approach in a way which would penalize me if the market were to climb aggressively. And, well, that is what it did for 18 months and I took it on the chin. Selling volatility is very good in soft down and flat markets, such as what we are experiencing in 2022. And, thus, it’s been a spectacular year of returns. While there are no guarantees of the future, I expect to moderate how volatility is sold so that I can more reliably return 15% / year with fewer massive up / down years: ie, lower returns with lower results volatility. If you have done the math, I have 83% of my investable liquid assets in volatility, which is leveraged, and higher risk. It’s also generally anti-correlated to the stock market. In years that the market does well, volatility will not do as well. Why? A few reasons: a) My job and illiquid assets are heavily correlated to how the NASDAQ will perform with many factors beyond my control, b) volatility is a form of anti-correlation to most of my assets creating a blended return which (over time) adds to a combined net worth, c) I am a horrible public markets stock picker; almost every buy-and-hold bet I make doesn’t yield good results; selling volatility is an approach that allows me to not have to make a judgement on fair value or price of the index; therefore it is programmatic in what is needed rather than having to endlessly study 1000s of public market companies to make investment bets. If 30-year treasuries ever breach 10% again like in the 70s, I will put everything I have into them and call it a day. No need to deal with selling volatility if that scenario plays out. Yes, inflation would be monstrous in that scenario, but it would be nice to know that a 10% rate of return is guaranteed for 30 years. And chances are the value of those debt instruments will increase over that time frame yielding a total return higher than 10%. As mentioned previously, even if my expectation for selling volatility is 18% / year on average, then it would economically make sense to have a mortgage or HELOC on my properties, especially when their interest rate was <2%. The arbitrage on a $1M mortgage is over 15% / year and that is before you factor the mortgage interest tax deduction. In my 20s and 30s, this would have been a must-do imperative. Unfortunately, it took me 20 years to realize that the financial gain from the arbitrage doesn’t cover the mental stress of having debt with a creditor who takes a senior lien position. My Expense Pattern I’ve tried to structure my “run rate” expenses to comfortable sit below my after tax W2 income. Investment gains and other assets generally should not be sourced for funding the normal lifestyle of which I live. My wife and I are generally minimalists, though for the few things we own or experience, we are comfortable in purchasing a premium product or experience. This especially includes vacations, for which we will attempt to do one 4 week trip every few years, and a number of 5 day and 8 day trips each year. I consider my “run rate” expenses to include mortgages, insurance, food, fuel, utilities, vacations, furniture, electronics, medical bills, clothes, jewelry. Generally, anything that we need to spend money on that isn’t considered an investment or necessary for us to live. To better reflect the spending patterns, I am excluding any lump sum payments such as a down payment made for a mortgage. The reverse is also true, excluding any lump sum payment received when selling a home. My historical tax rate has been ~32% across federal and state taxes after netting out any credits and deductions. I’ve been generally tax inefficient during my income years as I’ve always seen that the steps necessary to lower the tax rate meaningfully were too much of an inconvenience to warrant the potential gains. I expect our effective tax rate to inch towards 38% in the coming years. ​ Year Expenses % W2 Income Comments 1997 $12,555 89% College years 1998 $22,194 86% 1999 $42,904 41% 2000 $47,777 38% 2001 $41,150 18% 2002 $55,208 38% 2003 $106,086 37% Mortgages add up 2004 $139,899 67% 2005 $84,790 61% 2006 $72,874 38% 2007 $106,163 52% 2008 $118,023 51% 2009 $104,085 45% 2010 $192,593 45% Expensive vacations 2011 $190,074 49% 2012 $168,302 189% $0 startup salary for 6 months. 2013 $180,788 71% 4 intl vacations 2014 $155,078 67% 2015 $188,987 78% 2016 $185,309 50% 2017 $201,109 25% Lifestyle creep 2018 $267,725 59% Pilot training is expensive 2019 $204,598 36% Paid off mortgages 2020 $97,512 12% COVID lock down == little spend 2021 $134,398 13% Paid off plane mortgage 2022 $167,189 16% My Work History I only consistently made $250K of W2 income starting in 2016. At this time, my net worth was $2.6M with another $5.2M in illiquid assets. Our average income over those previous 16 years was $235K with 8 years making less than $200K. While $200K is a very generous income and above the average of most people, my key point is that the combined net worth of $7.8M is far above the $3.8M in taxable income earned over that same period. A persistent, hard working family that chooses to spend below their earnings that intelligently invests their savings is able to build significant worth beyond the limits of what their job provides. Like the stock market, my career has its ups and downs. Interestingly, it’s marked by a number of short stints interspersed among long stints. I’ve worked in large publicly traded companies and as employee #1 in a startup. In my 25-year working career, the longest period of not having a W2 paying job has been 3 months. I have only maintained a single W2 paying job at one time. I am, however, allowed to simultaneously angel invest, be a VC scout, sit on boards, and consult for companies across the tech ecosystem while I perform my primary function as employee. All of these additional activities help to build my portfolio of additional illiquid assets. I am earning sweat equity rather than having to outlay significant cash to build these positions. ​ Period Role Comments 1997-2003 Engineer, Tech Expert Joined 15-person startup, acquired by public company after 12 months, multiple geeky roles at the acquirer. 2003-2004 CEO Ran a 10-person consulting company specializing in geekery. Fire sale acquisition by another consulting company & I was not hired. 2004 Product Joined a hot data startup to run product. Culture fail as the founder was a jerk. Quit after 1 week. This company eventually sold 2 years later for $900M! It would have been a big payday. No regrets, though. 2005-2011 Product Mid-sized, fast growing public company. 2011 Product VP @ very large public company. Reported to famous visionary. Resigned after 3 months (famous person was a jerk). Offered $1M / yr to stay and declined. No regrets, though. 2011-2017 CEO Started tech company. Sold to a large public company. Almost bankrupt 3 times before finding fit, growing revenues, and becoming profitable. 2017-2019 GM Ran $100M business unit that included my startup for the company that acquired us. 2019-2022 CEO Hired as CEO of private company. 500 employees, profitable, setting sights on $100M in revs. My Evolving View Of Financial Independence While young, my view of financial worth was measured by net worth. “Will I ever be worth 1 MILLION dollars?!?”, as if that number held a magical quality that, if achieved, suddenly made one financially well-off. The day I became a millionaire was anti-climatic other than the entertainment value of seeing two commas on my tracking sheet. And that financial milestone was quickly discarded in favor of achieving the next million because I didn’t feel safe / stable / protected with just having one. And then the next one, and next one after that. Net worth is not a good way to quantify your financial independence. I’m familiar with the 4% SWR, and it’s always struck me as a challenging measure of whether someone has the financial means to retire early. There are too many challenges: how long do you live, changing macro conditions, unknowns about social safety nets, and so on. But even worse, the 4% SWR is a model where, generally, your net worth is likely to decline over those years depending upon how the investment portfolio performs. As a way to deal with this anxiety, I’ve shifted my definition of financial independence to be defined by my ability to continue living my current lifestyle through gains made from investable assets. For 2023, this limited view would generate ~$600K (after netting taxes) for spending against a lifestyle run rate which is effectively $200K. Selling volatility has a lot of risk associated since it is leveraged. A financial independence definition that depends upon leveraged risk introduces some peace of mind issues. This is the definition I currently use in order to claim that I am financially independent. However, I also track a definition of financial independence that is virtually risk free: FI is when my run rate of life expenses is below the interest that can be earned from buying 30-year treasuries. At 4% yield this would generate ~$190K after taxes. The net after tax payments would benefit from not having state income tax and our family being in a lower average tax bracket. With my life expenses under $200K due to a lack of mortgage, I am currently bumping along on this threshold. Half of my annual expenses are vacations and luxury items (plane maintenance is not cheap) which could easily be eliminated if we decided we wanted to retire early and spend well under the interest generated threshold. But we won’t. We will probably carry on because we love our work. As our investable assets increase, we will allow lifestyle creep wine, vacations, and hobbies over the coming years. Lessons and Observations Perseverance Yields Results. Having a long history of steady savings can lead to big outcomes. While the sale of my company did create a boost in my wealth, the benefit of compounding savings over decades has lead to a greater contribution to the overall wealth. I’ve never been one to chase quick profits or fads (crypto, though I do own $2K of Bitcoin), and instead see that the professional and technology skills that I can acquire through self-study and life experiences pay larger dividends than with gambling investments. Always Have A Project. Whether it’s becoming an expert in a new technology, learning the nuances of how strategic business development is orchestrated, or earning a pilot’s license, having 2-3 ongoing passion projects creates contentment, builds worldly skills, and opens work / financial opportunities that I was not seeking or aware of. Culturally Fail Fast. I’ve been in 4 work scenarios where there was a culture mismatch. Either the people around were unpleasant or there was a limited interest in peers to socially connect. Get out of those situations as fast as possible, within days if necessary. I’ve been fortunate to listen to my inner voice and the longest I was in an unpleasant environment was 9 months. In two of these fail fast scenarios, had I stayed for more than 4 years, I would have earned more than $5M in each scenario. They were economic mistakes but like successes. Peace Of Mind Matters More Than Profit. It took me the better part of my young adulthood, but I sleep peacefully by structuring my finances and earnings in such a way where I have the maximal peace of mind given my risk tolerance. The things that eat at me would be consistently having expenses above my income and a financial independence strategy that required my net worth to decline due to withdrawals. Over Sacrificing Will Sabotage Important Relationships. Being aggressive in your career and sacrificing time with family, friends, and lovers hasn’t created enough of leapfrog in my FI journey that warrants the cost (often sabotage) that will come to those relationships. I was a relentless worker in my early years. Now I am a wise worker with a structured balance between work and play. Maintain A War Time Mindset With Investing. Invest assuming that your worst-case nightmare scenario will happen. With this mindset, every investment has risk mitigations (both in my mindset and structurally). By thinking this way, you will be prepared emotionally and skill wise to act when negative scenarios occur. I used to be apprehensive about selling volatility with reasonable risk. It requires me to do things such as selling naked calls. Most traders hear the oft repeated words, "naked calls have unlimited loss potential!" and immediately run for the hills. I worked for months to avoid ever having a naked call go in the money as that would be the nightmare. Well, one time it happened, they were in the money, and I was frozen. But the nightmare was much worse in my dreams, learned how to trade out of it, and recognized that trading as if everything was always in the money made everything easier to absorb. So that is how I invest and trade - it's war time, nothing will go right, and have a plan for every possible contingency. submitted by /u/Able-FI-4906 [link] [comments]

  • Weekly Self-Promotion Thread - Wednesday, November 23, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 23, 2022 at 10:03 am

    Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. submitted by /u/AutoModerator [link] [comments]

  • Daily FI discussion thread - Wednesday, November 23, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 23, 2022 at 10:02 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]

  • Taking back ownership of your time
    by /u/dypeverdier (Financial Independence / Retire Early) on November 22, 2022 at 10:06 pm

    One of the reasons I seek to FIRE is the simple reason I wish to own more of my time. Money can be seen as the currency of time. The reason why something costs money is that someone put their time into creating the thing I am buying. When you spend money, you spend someone else's time they put into serving you. If you are a billionaire, you could spend several lifetimes in a very short amount of time. My time is the most important thing I can offer to the world. Be it offering to my friends or family, to work, to enjoyment, or the community. This makes our time more precious than we might want to admit. Because the future is inherently unknown, we can never know for sure how much time we have. Do I have 50 years, perhaps only 20? Who of you has wished you had more time for friends and family? That you could work less and enjoy life more? Some love their work and would do it for free. But a lot of us think they would be happier spending their time in different ways. If you look at it this way, every subscription service I pay for, every new car I buy, every time I buy something I don't really need I pay with time I could have used in a more fulfilling way. This is why being frugal, saving money, being mindful of how one spends time, and seeking FIRE as a goal is something I strive for, to own my own time. Does anyone else think of it this way? submitted by /u/dypeverdier [link] [comments]

  • Earn Money with Coding and Programming
    by Tayyab Ali (Money Making Ideas on Medium) on November 22, 2022 at 2:59 pm

    Coding and programming are some of the most sought-after skills in the modern job market. With various industries looking for developers…Continue reading on Medium »

  • Making Document Templates as a Side Hustle
    by Sidehustle.gg (Money Making Ideas on Medium) on November 22, 2022 at 2:55 pm

    Don’t know how to make money? Feeling uninspired by traditional methods? Do you have a knack for design and a love of Microsoft Word? If…Continue reading on Medium »

  • Daily FI discussion thread - Tuesday, November 22, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 22, 2022 at 10:02 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]

  • 10 Ways to Make $10 an Hour Online
    by The Psychology Guide (Money Making Ideas on Medium) on November 22, 2022 at 5:19 am

    While a lot of people would like to make money online, not everyone thinks they have to make huge bucks.Continue reading on Medium »

  • Give back and get smart on taxes at the same time
    by /u/lizref (Financial Independence / Retire Early) on November 22, 2022 at 1:34 am

    I want to highlight a cool volunteer opportunity that I think fits very well with the FIRE community. There is always plenty of discussion here asking how to give back, how to occupy your time after FIRE, and most importantly, how to learn about taxes.   I posted this last year and it received some interest so I wanted to send out another reminder to the community that this program is gearing up again for the next tax season.   I'm starting my second year with an agency as a Volunteer Income Tax Assistant (VITA) with a local refugee agency. The program trains you on tax screening so you can provide free tax prep services to people in need. You don't need to have any prior tax experience, they train you on everything. I started last year with very little understanding of how the tax system works (always had someone else file my taxes), and now I've gained deep understanding of the tax code. VITA programs offer an impactful way for people in this community to use their skills and their passion to give back.   I'm not advocating for a particular program, but if you google VITA in your local area I bet you'll find some programs. A lot of them are even fully virtual. Seems like a great way to help out whether you're FIRE'd or not.   Cheers! submitted by /u/lizref [link] [comments]

  • What are the tips/tricks for getting a job you're overqualified for? (for semi-fi/barista-fi)
    by /u/nullstring (Financial Independence / Retire Early) on November 21, 2022 at 9:39 pm

    Suppose you're semi-fi and looking for a lower impact job to help sustain you. What are some tips/tricks to get such a job? Things like: Do you really really tone back your resume to hide how over-qualified you are? Are you honest with prospective employers about why you're looking to "downgrade"? Or what reasoning do you give? For context, I am an unemployed software developer who is 'grey-area-fi'. (To me, calculating exactly when I can personally become financially independent has been difficult. But I am probably fi.. probably.. The current market doesn't help though.) I've been unemployed for about 7 months, and it hasn't really been going that well to be honest. It seems like I may need some structure in my life to stay active. Thus, I am looking to go back to work but probably to something low-key, so to speak. BTW, I'm hoping to hear from people who've actually done this or are in the process rather than just those who are speculating. submitted by /u/nullstring [link] [comments]

  • Daily FI discussion thread - Monday, November 21, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 21, 2022 at 10:02 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]

  • Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - November 21, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 21, 2022 at 10:01 am

    Need help applying broader FIRE principles to your own situation? We’re here for you! Post your detailed personal “case study” and ask as many questions as you like, or help others who’ve done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It’ll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody’s situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? submitted by /u/AutoModerator [link] [comments]

  • Weekly FI Monday Milestone thread - November 21, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 21, 2022 at 10:00 am

    Please use this thread to post your milestones, humblebrags and status updates 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! 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]

  • 3 Pillars of a Solid Home-Based Business
    by Shane Berry (Money Making Ideas on Medium) on November 20, 2022 at 9:28 pm

    A guide to starting a successful home-based business while avoiding the pitfalls of wasted time and money.Continue reading on Medium »

  • Guaranteed 4% SWR success!
    by /u/jason_for_prez (Financial Independence / Retire Early) on November 20, 2022 at 3:46 pm

    The 4% SWR rule of thumb was created with the goal of ensuring you don't run out of money within 30 years. Over the past 100 years in the US, it has had about a 95% success rate. And a lot of discussions in this community are about how to identify if you are on track to become one of those 5% failures, how to manage it, and how to avoid it. Well, what if you didn't have to? 30 year TIPS are now CPI+1.6%. So if you put all your money into 30 year TIPS and spend exactly 4% every year with inflation adjustments, then you will still have 0.9% of your portfolio remaining after30 years! As long as the US government is able to continue paying its debts, you're safe. And if the US government can't pay its debts, then your 4% SWR isn't going to be safe no matter where you put it. I'm not doing this since I need my money to last longer than 30 years. submitted by /u/jason_for_prez [link] [comments]

  • Daily FI discussion thread - Sunday, November 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 20, 2022 at 10:02 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]

  • Passive income
    by Ayoub gheblawi (Money Making Ideas on Medium) on November 19, 2022 at 8:11 pm

    THE EASY WAY TO MAKE MONEY 2022Continue reading on Medium »

  • Daily FI discussion thread - Saturday, November 19, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 19, 2022 at 10:02 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]

  • Don’t Fall For These Easy Money-Making Methods Revealed
    by Dinith Kurukulasooriya (Money Making Ideas on Medium) on November 19, 2022 at 12:01 am

    Making money doesn’t have to be complicated, but before you start to make some, you need to know the easy ways to make money first.Continue reading on Medium »

  • Daily FI discussion thread - Friday, November 18, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 18, 2022 at 10:02 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]

  • Weekly FI Frugal Friday thread - November 18, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on November 18, 2022 at 10:00 am

    Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! 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]

  • I'm done.
    by /u/BeyondSC (Financial Independence / Retire Early) on November 17, 2022 at 4:14 am

    I'm a 22M that's been coding since I was 10, lined up a software development job out of HS, in ~3 years became SDE II at Amazon. Total compensation went 90k-115k-125k-260k not including retirement contributions. In total I saved ~$400k, investment growth (happened to almost perfectly time a trade into small value AVUV from VOO which helped a lot) brought me up to my current net worth of $660k. I got fired from Amazon a few months ago basically because I'm a garbage and defective human being that procrastinates everything to comical lengths thus unable to get any work done. I've looked back and realized I deliver negative value by working while personally feeling like shit for doing so, so I'm retiring. I've been trying some other jobs and work arrangements like folks suggested, but the same issues destroyed me every time even trying to work 10 hrs\mo so fuck it, I'm done. I moved to LCOL and my expenses are staying well within my $28k\yr target. It's pretty easy since all I want to do is play video games and read webtoons, I literally haven't stepped outside in months lol. Here's the expense breakdown All utilities are included in my $825 rent payment, so that's stable. The internet here is pretty great value IDK why, but the $15\mo phone is because I switched to Mint mobile now that I've stopped ever going outside. I burn $600\mo on food because all of it is delivered from restaurants. I'm the laziest person ever if that wasn't obvious yet. All my gaming stuff I have rn totaled about $2000 when I bought it 2 years ago, with a 1660ti and i7-9850h which look like they'll handle most stuff coming out for another 3-5 years fairly well. I also got a Galaxy S22 for $700 which is supported for 5 years. I amortize all that to ~$500\yr for a reasonable electronics budget. The $1250\yr for vacations and $250\yr for clothes is just the average from my adult life, really I'll probably spend less going forward considering I didn't enjoy any of those vacations a whole lot. Healthcare is the most unknown, but according to ACA estimators it should be between free (Medicaid) and $300\yr depending on how much capital gains I realize. Maid service is only $80\mo because my standards for cleanliness are low enough that I only have it every 6 weeks. Actually at one point I went over a year without cleaning my place at all, only after moving and noticing my allergies? mysteriously disappear did I realize I should spend a little on this if possible lol. Those with good mental math probably noticed $28k is more than 4% of $660k, and the 4% rule in the first place is quite risky considering how long of a retirement I'm looking at while not even qualifying for Social Security. I explain why it's fine and why I'm really following a 3% SWR here. Even including those attempts to find a bearable job that kept reviving my procrastination, self-loathing, insecurities, etc the past months since Amazon fired me have been enjoyable...pretty sure they're the longest contiguous time I've been happy to be alive. I finally got time to end my 5 year break from StarCraft 2 and reach Grandmaster rank again (with all races this time 🙂 and to start playing Factorio. I can't remember having as much fun as trying to survive a marathon deathworld, and I haven't even tried any mods yet. My webtoon backlog has also kept growing somehow despite reading dozens of chapters every day. I was scared I might get bored but yeah that's nowhere in sight, I'm finally just happy and excited 🥳 submitted by /u/BeyondSC [link] [comments]

  • $20 daily legal money making app worldwide
    by Rizwan Ahmed (Money Making Ideas on Medium) on November 15, 2022 at 10:12 am

    IntroductionContinue reading on Medium »


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.

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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.

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.

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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.

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:


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.

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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.

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.

https://www.chiaexplorer.com/charts/netspace

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
Reference

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 https://coinmarketcap.com/

Latest News on Crypto:

Sources:

1- Reddit

2- Reddit

3- https://research.binance.com/en/projects/bitcoin

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

7-  https://coinmarketcap.com/historical/

NFT Crypto Blockchain Bitcoin Top Stories – Breaking News

  • NFT Subreddit, I'm curious about what you all think of this Short Doc Portrait I recently Directed on one of the Earliest NFT Pioneers, Mitchell F Chan.
    by /u/CarlosFe (NFT) on November 29, 2022 at 2:28 am

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

  • TheShopNFT will be the first of it's kind of NFT with a cartoon show, where holders get to feature their NFTs in different episodes telling their stories and other interesting use cases
    by /u/Jazzlike-Badger (NFT) on November 29, 2022 at 2:18 am

    submitted by /u/Jazzlike-Badger [link] [comments]

  • Why the “Crypto is dead!” narrative is more stupid than ever
    by The Wolf of Wallet Street (Cryptocurrency on Medium) on November 29, 2022 at 2:16 am

    And why the media is wrong (again)Continue reading on Coinmonks »

  • Day 251
    by Chep (Bitcoin on Medium) on November 29, 2022 at 2:11 am

    My Girlfriend and I got an ultrasound today. Not the best quality photo but it still blows my mind this little girl is my daughter. I can…Continue reading on Medium »

  • DEXE NETWORK IN RETROSPECT.
    by Bmskmike (Cryptocurrency on Medium) on November 29, 2022 at 2:10 am

    This article will bring about an eye opener about dexe. network and the wonderful qualities the project possesses join me as we join the…Continue reading on Medium »

  • NFT’s won’t save us. #Solana
    by seveN (Blockchain on Medium) on November 29, 2022 at 2:04 am

    Due the bear market conditions, we got few less activity from media and projects comparing to 2021 and early 2022. We could barely see…Continue reading on Medium »

  • Updated Results for Dollar Cost Averaging From the $60,000 Peak and Two Previous Peaks
    by Ugly Old Goat (Blockchain on Medium) on November 29, 2022 at 1:58 am

    On October 2021 bitcoin reached its peak of over $60,000.Continue reading on Medium »

  • Updated Results for Dollar Cost Averaging From the $60,000 Peak and Two Previous Peaks
    by Ugly Old Goat (Cryptocurrency on Medium) on November 29, 2022 at 1:58 am

    On October 2021 bitcoin reached its peak of over $60,000.Continue reading on Medium »

  • Updated Results for Dollar Cost Averaging From the $60,000 Peak and Two Previous Peaks
    by Ugly Old Goat (Bitcoin on Medium) on November 29, 2022 at 1:58 am

    On October 2021 bitcoin reached its peak of over $60,000.Continue reading on Medium »

  • THE CRAZY BIRD. GLAPER. NFT 2022
    by /u/Glaper_art (NFT) on November 29, 2022 at 1:56 am

    ​ UNLIMITED IMAGINATION COLLECTION submitted by /u/Glaper_art [link] [comments]

  • Deep dive on Sushiswap 2
    by Bubbletree (Blockchain on Medium) on November 29, 2022 at 1:54 am

    Some of proposals to solve the sushi governance problemsContinue reading on Medium »

  • Macro Economy Weekly | Bitmidas
    by Bitmidas (Cryptocurrency on Medium) on November 29, 2022 at 1:53 am

    2022–11–28Continue reading on Medium »

  • Portugal vs Uruguay predictions: Goals could be at a premium | LiveScore
    by omotoso comfort (Blockchain on Medium) on November 29, 2022 at 1:50 am

    - Uruguay have kept five consecutive World Cup group-stage clean sheets  - Both teams have not scored in seven of Portugal’s last nine…Continue reading on Medium »

  • Portugal vs Uruguay predictions: Goals could be at a premium | LiveScore
    by omotoso comfort (Cryptocurrency on Medium) on November 29, 2022 at 1:50 am

    - Uruguay have kept five consecutive World Cup group-stage clean sheets  - Both teams have not scored in seven of Portugal’s last nine…Continue reading on Medium »

  • Cryptocurrency and Blockchain Explanation
    by Oneupblogs (Bitcoin on Medium) on November 29, 2022 at 1:47 am

    Cryptocurrency and blockchain has seen a surge in popularity in recent years, with a large number of people investing in various coins and…Continue reading on Medium »

  • Cryptocurrency and Blockchain Explanation
    by Oneupblogs (Blockchain on Medium) on November 29, 2022 at 1:47 am

    Cryptocurrency and blockchain has seen a surge in popularity in recent years, with a large number of people investing in various coins and…Continue reading on Medium »

  • We will draw a sketch for to sell as an NFT for everyone Who Upvotes and Comments their favorite food so we would know you aren't an automated reply. Limited time only!
    by /u/Vincentmjolnir (NFT) on November 29, 2022 at 1:37 am

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

  • A guide to understanding Sei Network: The first order-book-focused L1 blockchain
    by Kyrian Alex (Bitcoin on Medium) on November 29, 2022 at 1:36 am

    Sei Network is the first order-book-focused L1 blockchain that offers a high throughput and low latency without sacrificing…Continue reading on Medium »

  • A guide to understanding Sei Network: The first order-book-focused L1 blockchain
    by Kyrian Alex (Cryptocurrency on Medium) on November 29, 2022 at 1:36 am

    Sei Network is the first order-book-focused L1 blockchain that offers a high throughput and low latency without sacrificing…Continue reading on Medium »

  • A guide to understanding Sei Network: The first order-book-focused L1 blockchain
    by Kyrian Alex (Blockchain on Medium) on November 29, 2022 at 1:36 am

    Sei Network is the first order-book-focused L1 blockchain that offers a high throughput and low latency without sacrificing…Continue reading on Medium »

  • Custodial Versus Non-Custodial Wallets
    by Chioma Udoh (Cryptocurrency on Medium) on November 29, 2022 at 1:31 am

    Transitioning to web3 is like being dunked into a pool of snow while your body is experiencing a high fever. Gigabytes of information come…Continue reading on Medium »

  • Live minting a select amount of Token Female digital assets. 20% of all sales go to women's charities such as Action Aid, Imkaan, etc.
    by /u/Lilystration (NFT) on November 29, 2022 at 1:28 am

    Token Female is the NEW and GENUINE way to support women's journey into W3 and NFT collections, creation and sales. 20% of each NFT sale goes to 1 of 7 charities that supports women; promoting equity, inclusivity, fairness, safety & hope. Our community of next-generation NFT collectors challenge the dogma that underpins the way traditional art has over-valued male contributons. Only 15% of digital NFT art is the work of women. Art rarity often a factor in an object's worth. In this vein, Token Female digital art assets are notable, valuable, and culturally/economically important. Those displaying a Token Female send a powerful message that they are ambassadors for women, are pioneers in the NFT world & not afraid to go against the grain. Each pixelated character in this fun, facetious project is from the 22nd Century & is based on a popular pin-up image of the 1940s-50s. They advertise household appliances of the future. This collection will never exceed 10K unique art digital collectibles - they live on the Ethereum blockchain as ERC-1155 tokens. submitted by /u/Lilystration [link] [comments]

  • Crabada’s Weekly Bounty Challenge: The Champion of Champions!
    by Crabada - An Exciting Undersea Adventure Awaits⚔ (Cryptocurrency on Medium) on November 29, 2022 at 1:27 am

    Dear Crabadians!🦀Continue reading on Medium »

  • Bitcoin Prediction 2023 — Get Ready For Bitcoin’s Biggest Year Yet!
    by Career Forum (Cryptocurrency on Medium) on November 29, 2022 at 1:25 am

    Whether you’re a seasoned investor or an inexperienced crypto newbie, you must know about the Bitcoin prediction 2023 as you might be…Continue reading on Medium »

  • Bitcoin Prediction 2023 — Get Ready For Bitcoin’s Biggest Year Yet!
    by Career Forum (Bitcoin on Medium) on November 29, 2022 at 1:25 am

    Whether you’re a seasoned investor or an inexperienced crypto newbie, you must know about the Bitcoin prediction 2023 as you might be…Continue reading on Medium »

  • X METAVERSE PRO was invited to the Istanbul Blockchain Week(IBW2022)in Turkey
    by X-Metaverse Pro (Blockchain on Medium) on November 29, 2022 at 1:20 am

    XMETAVERSE PRO was invited to the Istanbul Blockchain Week(IBW2022) in Turkey on November 14, which is a significant event for Web3 and…Continue reading on Medium »

  • Kripton Market, el Marketplace de otro mundo.
    by Milton Rodríguez (Blockchain on Medium) on November 29, 2022 at 1:17 am

    Quédate al final para descubrir porque es el Marketplace de otro mundo.Continue reading on Medium »

  • Kripton Market, el Marketplace de otro mundo.
    by Milton Rodríguez (Bitcoin on Medium) on November 29, 2022 at 1:17 am

    Quédate al final para descubrir porque es el Marketplace de otro mundo.Continue reading on Medium »

  • The Diary of a web3 Musician:
    by KARMA HEAD X VINCI (Bitcoin on Medium) on November 29, 2022 at 1:13 am

    Entry I:Continue reading on Medium »

  • The Diary of a web3 Musician:
    by KARMA HEAD X VINCI (Cryptocurrency on Medium) on November 29, 2022 at 1:13 am

    Entry I:Continue reading on Medium »

  • ANIVERSE Crypto Daily News_Nov 29, 2022
    by ANIVERSE (Bitcoin on Medium) on November 29, 2022 at 1:11 am

    Tuesday, November 29, 2022 ANIVERSE Crypto Daily News💌Continue reading on ANIVERSE »

  • Live data sync on CoinMarketCap
    by WEMIX Communication (Blockchain on Medium) on November 29, 2022 at 1:05 am

    Greetings from the WEMIX team!Continue reading on WEMIX Communication »

  • Dark Pixel Delights - 27 new additions today!
    by /u/OdditiesAndAlchemy (NFT) on November 29, 2022 at 1:00 am

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

  • Beyond The Mint
    by Beyond The Mint (Blockchain on Medium) on November 29, 2022 at 12:57 am

    Come learn with me and discover what lies Beyond The Mint. NFT’s, project analysis, education — an intro to what this blog aspires to be.Continue reading on Medium »

  • Minería de Bitcoin y Minería Combinada: Un Vistazo Rápido
    by Art Of Tomas (Bitcoin on Medium) on November 29, 2022 at 12:54 am

    Este articulo es una traducción, el original fue publicado por Rootstock y puede ser encontrado aquí…Continue reading on Medium »

  • 美联储官员频繁发言 风险市场围绕2023年终端利率多空博弈 — 2022.11.29
    by Phyrex Ni (Bitcoin on Medium) on November 29, 2022 at 12:53 am

    最近一周又到了美联储的频繁发言期,从时间安排上有两个重点人物的发言需要注意,一个就是在今天凌晨已经有过表态的鹰王布拉德,因为布拉德几乎代表着美联储中最鹰的看法,所以通过布拉德的讲话,可以推测出美联储的上限在哪里。而另一个就是要做英雄的鲍威尔,鲍威尔的发言在北京时间周四的凌晨两点半…Continue reading on Medium »

  • 200M Cronos (CRO) coin quietly burned by Crypto.com on 14th November 2022
    by /u/Biyamin (Cryptocurrency News & Discussion) on November 29, 2022 at 12:48 am

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

  • BlockFi sues FTX's Bankman-Fried over shares in Robinhood
    by /u/Strict_Resist5 (Cryptocurrency News & Discussion) on November 29, 2022 at 12:37 am

    submitted by /u/Strict_Resist5 [link] [comments]

  • Do you think the market will affect the NFT space?
    by /u/Rich_Forever_9158 (NFT) on November 29, 2022 at 12:34 am

    submitted by /u/Rich_Forever_9158 [link] [comments]

  • Mint your Flamingo for only 0.5Matic 👇🏼
    by /u/AdAccomplished3722 (NFT) on November 29, 2022 at 12:30 am

    submitted by /u/AdAccomplished3722 [link] [comments]

  • How much crypto justifies buying an hardware wallet?
    by /u/L3App (Cryptocurrency News & Discussion) on November 29, 2022 at 12:12 am

    BEFORE everybody starts commenting “just get one and stfu”, i’m a teen with no job, who puts their spare launch money into crypto, and before the energy crisis used to mine with their gaming pc. I really like ledger, so i’d like to buy one. The nano S would be 100% fine if not for the fact that i basically do every crypto trade on my iPhone, which really teases me to instead save for the nano X again, i don’t have much in crypto but i really don’t want to loose the one I have, which as of writing this sits in coinbase and binance. for reference, if i sold all my crypto right now i’d be able to buy a nano S, but it would stay empty for a while, because again i don’t have much cryptocurrency as of writing this thank you for your help submitted by /u/L3App [link] [comments]

  • Amber is always getting into trouble. They are happiest when they are alone. Listening to music: Utility NFT
    by /u/WillowAwayArt (NFT) on November 29, 2022 at 12:10 am

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

  • Hi guys! I need help completing a level in an NFT game.
    by /u/Immediate_Sky_8332 (NFT) on November 29, 2022 at 12:07 am

    Hi guys! I need help completing a level in an NFTs game. The game is not very popular, but I have been playing it for almost a year. But I have reached a level in the game that is unreal to pass alone. I don't have any friends, so I don't know who to ask. Due to the fact that this level is really difficult, they pay $ 100 in game tokens for it. I am ready to share the prize with you if we manage to pass this level. I think we can do it in about a couple of hours. Please write to me in PM submitted by /u/Immediate_Sky_8332 [link] [comments]

  • Lazyfarm NFT - Minting is Live. Join the Eco-friendly NFT Community now!!
    by /u/LazyfarmNFT (NFT) on November 29, 2022 at 12:01 am

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

  • Daily General Discussion - November 29, 2022 (GMT+0)
    by /u/CryptoDaily- (Cryptocurrency News & Discussion) on November 29, 2022 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]

  • How safe is Binance? It has very similar setup with FTX
    by /u/NikkiMyCat (Cryptocurrency News & Discussion) on November 28, 2022 at 11:37 pm

    Binance is different from Coinbase in terms of organization structure. Coinbase is a public company that its financial status is transparent. It reports earnings every quarter where you can find out their balance sheet, cash flow, revenue, credit, the total number of issued shares, who owns how much of the shares, etc. I am not saying it's not possible for Coinbase to go bankrupt, but its financial state is not a black box. ​ Instead Binance has a similar financial structure and does the similar business with FTX. The only difference is that Binance doesn't have an Almeda sitting in their backyard. They both run a CEX, issued a token that counts for a big part of their balance sheet (God knows exactly how much it counts), spent a lot of money on dealing with regulations/sovereign, advertisement and acquisitions. The both of the CEOs are pretty much same type of shady person. Most importantly, the financial state is a completely black box. Imagine that one day when BNB becomes a non liquidate asset for whatever reason, wouldn't Binance be just like today's FTX? submitted by /u/NikkiMyCat [link] [comments]

  • BipoFragile(004) minted 0.05ETH grab it👇
    by /u/Mediocre-Ad-2465 (NFT) on November 28, 2022 at 11:23 pm

    submitted by /u/Mediocre-Ad-2465 [link] [comments]

  • CZ seems to be following SBFs exact game-plan. Try to gain trust and bail-out a lot of companies while you are collapsing in the back.
    by /u/partymsl (Cryptocurrency News & Discussion) on November 28, 2022 at 10:03 pm

    This may be a bit odd but I still think that the amount of similarities we have got in this situation can't be a complete coincidence. Since CZ exposed SBFs scam (and rightfully so), his own game-plan seems mirror a lot the same game-plan from SBF earlier this year. Gaining trust from customers by presenting their transparency and "good" reserves, also doing bail-out of other partners in crypto. All that while your situation just worsens in the back. When LUNA collapsed earlier this year, SBF seemed to be the one person coming out to "help" struggling crypto firms and he was praised for that. Everyone seems be be struggling except FTX. Now we obviously know that all that was just a orchestrad play to gain trust and basically lie to us. Right now there are some similarities with CZ too: Talk about the strength of your own exchange through proof of reserves (which seems be not so detailed at Binance as liabilities are mit even included) Making a whole plan to bail-out other struggling crypto companies. They even once said to purchase FTX but dropped that after just looking at their balance sheet for a few hours. CZ tweeting a lot of shit to gain the trust of people (which mostly backfires as his false claims against Coinbase) This all may be some heavy speculation but still the similarities are there and I would say to not rely on any centrakized exchange right now, no matter how big. submitted by /u/partymsl [link] [comments]

  • Airbus Mints Their RACER Series Designed by Gio Manetta on The Avalanche Blockchain
    by /u/Prestigious-Rice72 (NFT) on November 28, 2022 at 8:58 pm

    submitted by /u/Prestigious-Rice72 [link] [comments]

  • World Cup Edition NFTs (Link In Description)
    by /u/LaithBushnaq (NFT) on November 28, 2022 at 8:29 pm

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

  • FTX US Donated $70 Million To US Politicians Weeks Before Filing For Bankruptcy
    by /u/esporx (Cryptocurrency News & Discussion) on November 28, 2022 at 8:26 pm

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

  • Just bought my first cold wallet (Ledger Nano S Plus). Any tips for a beginner?
    by /u/KnackeredParrot (Cryptocurrency News & Discussion) on November 28, 2022 at 8:12 pm

    As per the title. I have finally got myself a cold wallet and plan to move the majority of my bags straight onto it. I DCA monthly with the occasional extra buy here and there. I've checked and Ledger support almost all of my tokens, had great reviews and seemed like the best choice for what I needed (cold simplicity). Also got 10% off in a Black Friday deal on the official site which was sweet. I've heard the initial setup / operation can be a little confusing at first but I'm fairly tech-savvy so should be OK. I also love learning anything new like that so hopefully be an enjoyable experience. Are there any cold wallet owners with nuggets of wisdom to share on setup, safekeeping, daily operation etc? I've read numerous things at different times but having some direct answers all in one place would be great. As always any and all comments / opinions welcome. Thanks in advance. submitted by /u/KnackeredParrot [link] [comments]

  • Holiday Outdoor Decor's NFT Holiday Photo Competition
    by /u/templedisplay (NFT) on November 28, 2022 at 8:04 pm

    Only 2 more days until the start of our NFT Holiday Photo Competition. Snap photos of your local Downtown, Shopping Center, Park, Main Street, or any place in your town that is decorated for the Holiday Season. Photo submissions will be accepted starting December 1st, 2022. The photo with the most votes will be turned into an NFT that will be auctioned off at the 2023 TransWorld’s Christmas Show! Click here: https://holidayoutdoordecor.com/nft/ to learn more! ​ Christmas in Everett submitted by /u/templedisplay [link] [comments]

  • Kanye West for president nfts available
    by /u/Forward_Bus_709 (NFT) on November 28, 2022 at 8:00 pm

    Get them while they last this guy could be the next president submitted by /u/Forward_Bus_709 [link] [comments]

  • Over $643,000,000 in Solana (SOL) Now Controlled by Liquidators as Part of Alameda Research Bankrutpcy Process: On-Chain Data - The Daily Hodl
    by /u/alecz123 (Cryptocurrency News & Discussion) on November 28, 2022 at 7:49 pm

    submitted by /u/alecz123 [link] [comments]

  • Binance isn‘t letting me withdraw my funds.
    by /u/Alarming_Associate47 (Cryptocurrency News & Discussion) on November 28, 2022 at 7:46 pm

    So like probably a lot of people recently I got myself a Ledger. Setup complete - let’s get those funds off of this dirty Cex. Well apperantly not. After putting in E-Mail verification and 2FA it‘s just submitting… 1 min, 5 min, 10min. Nothing happens after that. Tried it multiple times over the day. Also what I found weird normally you can just copy and paste the verification codes into binance. I can’t anymore which is super inconvenient because if you tap out of the mobile app more than once it resets and you have to start the transaction over again. Anyone else having similar problems ? submitted by /u/Alarming_Associate47 [link] [comments]

  • imagine wasting your money on a jpeg
    by /u/roadhog_is_hot (NFT) on November 28, 2022 at 7:27 pm

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

  • 10 Bearish points about Moons which are most often brought up, picked out and analyzed!
    by /u/meeleen223 (Cryptocurrency News & Discussion) on November 28, 2022 at 7:17 pm

    I noticed many people bring up certain points as a bearish case for Moons and other part of people are endlessly bullish. I tried to make this post to amend both sides and bring in some perspective into Moons that might help us forward and tried to look at matter through eyes of both sides and that even when bringing up bearish points not everything is black and white. 1. Moons are centralized Moons are centralized, top 20 holders hold around 10m Moons out of 106m circulating Moons Reddit can at any point discount them and pull the plug but that seems highly unlikely. Reddit can change distribution rules as we've seen before and polls can be veto-ed pros: Reddit is one of the biggest social networks and gives legitimacy to the project cons: Reddit can pull the plug on the project and top holders can dump their huge bags on the market at any point 2. Moons no longer have hard cap of 250m Reddit has shown that they can change terms on which Moons are distributed. New distribution rule states that number of Moons distributed to users will decrease by 2.5% each round until Moons reach a steady inflation of %1 Yearly. It is hard to calculate when exactly will this happen, but probably in a decade. pros: This insures that distribution continues even at the tail end of distribution given that Moons main use case is governance. The said 1% yearly inflation once reached is actually not a lot and since so many Moons since start are lost, even with this 1% yearly inflation it will take many years to reach the original 250m cons: This affects perceived scarcity of Moons 3. Monetization of and introduction of Moons made the quality of the sub drops As someone who's been using reddit for a long time and been here when this sub when was made I can say that quality of reddit as a whole dropped with huge influx of users across the entirety of the platform over the past years. pros: It got many people to stop lurking and start being active and earning Moons and get something in return for their contributions. Which is ahead of any social app that only makes money on users. cons: Shitposting got worse and some people started identifying as Moons farming degenerates 4. Moons are shilled inside this sub constantly Moons like BTC are common unifier for us. No matter which coin or project is our favorite, we all hold Moons. And after recently voted proposal to exclude small karma earners who don't have their vault open. We can see that 90% of active users have their vault open and earns Moons. pros: Creates a self fulfilling prophecy and will help and make Moons moon. Getting in more and more people into Moons create a huge flock of people spreading the word about the project. cons: Shilling is bad in it's nature and can make us overlook some important points 5. Moons are helping make echo chamber worse Reddit is notorious for creating echo chambers and drowning out opposing opinions. Monetization of posts leads people to posting more things others will agree with. 6. Moons have no clear roadmap Moons have no real roadmap and we get no feedback from Reddit. Changes are dropped out of the blue. Mainnet, CEX listing and any changes. pros: Developers can work in silence, project isn't living on hype and promises cons: Communication is important and Reddit don't reach out to get feedback from users 7. Moons got people to make up stories just so to get Moons and is hard to distinguish real ones from fake This is a common one, there used to be a problem with self stories, now it's sharing some improbable events 8. Moons have little or no real world use cases? Often people mention this which I don't agree with. Moons main use case is governance and voting on polls. There is also a lot of potential ones in the future besides governance and tipping like renting banner or potentially integrating Moons with future reddit NFT marketplace. pros: Moons have a real use case even if it's tied to voting on an internet forum (biggest crypto forum on the internet) which is more than many projects out there cons: Maybe people outside reddit won't care much about this use case and whales can flip votes pretty easily if they would stick together 9. Moons are a bad social experiment pros: It could be said they are a social experiment, but I would not classify it as bad at all. They are slowly but steadily forming their own small ecosystem and with reddit potentially integrating it with it's NFT marketplace, could become a part of something bigger. If successful they can change the way people see and use social apps. cons: Do moons change how people upvote, act and post here? Yes. 10. Moons make people dream of getting rich and exchanging it all to FIAT This is obviously not ideal since Moons are a governance token and crypto should be what we think the future holds for the world. Not much of a revolution if we revert to the system we are trying to escape from. pros: keeps people hopium levels high enough to keep them engaged cons: can get everyone carried away way too much and set unrealistic expectations All in all I am some who is very bullish on Moons but I wanted to shed some light that things are not black and white even when building up bearish case for Moons there is a silver lining in it but also some pretty valid and important points are being made. ​ https://preview.redd.it/4m0i4j1irq2a1.jpg?width=2048&format=pjpg&auto=webp&s=85a065aff185d79ce2651b5cbbc3b473071312da submitted by /u/meeleen223 [link] [comments]

  • Turn ads into investments with NFTs, World’s first NFT & Crypto advertising platform
    by /u/TripleGGreggStarski (NFT) on November 28, 2022 at 7:13 pm

    Hi everyone! I just released Marquee.Market, an NFT & Crypto advertising platform. Marquee Market is a brand-new concept designed to revolutionize the way businesses advertise online. A Marquee Market NFT is a digital key that unlocks permissions for uploading banner ads, writing forum posts, and voting on polls. This will allow MM NFT owners to contribute ideas to the community and take our innovative, crowdsourced NFT ad platform to the next level. Purchasing a Marquee Market NFT allows you to continue building your brand and attracting new leads or sell it for a profit – it’s 100% up to you. Watch the video about it here: https://www.youtube.com/watch?v=mVAfoC9hxNI Let me know your thoughts (AMA) about this brand new concept I've developed for NFTs. Links will be provided in the comments. Thanks! -Gregory ‍🚀 submitted by /u/TripleGGreggStarski [link] [comments]

  • Singapore requires banks to hold $125 for every $100 Bitcoin exposure
    by /u/Migas0pt (Cryptocurrency News & Discussion) on November 28, 2022 at 6:51 pm

    submitted by /u/Migas0pt [link] [comments]

  • "Nice Shot"| Now re-listed for Cyber Monday! Feeling minty? link in comments.
    by /u/Beeskneesmov (NFT) on November 28, 2022 at 6:29 pm

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

  • 2022 Crypto bankruptcies so far
    by /u/hearsdemons (Cryptocurrency News & Discussion) on November 28, 2022 at 6:08 pm

    May 12 Stablecoin Luna crashes July 1 Singapore crypto hedge fund Three Arrows Capital files for bankruptcy July 6 Crypto broker Voyager files for bankruptcy July 8 Indian crypto lender Vauld filed for bankruptcy July 13 One of the largest crypto lenders Celsius files for bankruptcy Jul 29 Thai crypto exchange Zipmex files for bankruptcy Aug 9 German crypto exchange Nuri files for insolvency Aug 10 Chinese crypto exchange Hotbit suspends operations Sep 22 One of the largest bitcoin mining firms Compute North files for bankruptcy Nov 11 One of the largest crypto exchanges FTX files for bankruptcy Nov 28 Another of the biggest crypto lenders BlockFi files for bankruptcy Current watchlist Crypto broker Genesis is now warning investors it may declare bankruptcy if it can’t raise at least $1 billion Bitcoin mining firm Core Scientific warns it may file for bankruptcy after Oct 26 filing shows it was unable to meet financial obligations in late Oct/early Nov citing low price of Bitcoin submitted by /u/hearsdemons [link] [comments]

  • [SERIOUS]FTX and Execs donated over $70 Million to the election, some just 2 weeks before bankruptcy. Politicians 'did their job' and had tried to blocked investigation into FTX
    by /u/OneThatNoseOne (Cryptocurrency News & Discussion) on November 28, 2022 at 5:59 pm

    Sam Bankman-Fried and FTX execs donated a total of $70 million to political campaigns toward the mid-term election cycle. This sum made FTX the third-largest donor across the entire political landscape for this mid-term election cycle. The individuals who donated included Bankman-Fried himself, co-CEO Ryan Salame and Director of Engineering Nishad Singh. They donated a rough 55%/45% split between both Democrats and Republicans. FTX US also donated an additional $1M as well a super-PAC vying for Senate control on October 27th, filing for bankruptcy only weeks later. This is where at least some of customer funds went. Meanwhile, FTX was running at a huge losses. As a result, eight House members wrote a letter and made statements that seriously questioned the legitimacy in many ways of the SEC's inquiry into crypto companies going as far as to say it may violate law. It was revealed at least five of the eight members received campaign donations from FTX employees, ranging from $2,900 to $11,600. Rep. Ted Budd (R-NC), one of the signatories, received half a million dollars in support from a Super PAC created by FTX co-CEO Ryan Salame. And Congressman Emmer's organization, is particular received $2.75 million from FTX in the 2022 cycle; $2 million from FTX's Salame in late September, and $750,000 from the company’s political action committee. Some politicians are now attempting to return the funds from FTX by donating to charities. However, this has only thus far been to politicians who return a paltry sum amounting to less than $10,000. Now, SBF donated to the GMI PAC as well as $23M to the Protect Our Future PAC. All 19 of the congressional candidates backed by GMI PAC won their races last week, sending 16 new members to the House and Senate. We will see where this takes us. Sources: Yahoo Bloomberg Prospect Politco Coindesk OpenSecrets submitted by /u/OneThatNoseOne [link] [comments]

  • Nexo is full of red flags and could be the next company to fall!
    by /u/unitys2011 (Cryptocurrency News & Discussion) on November 28, 2022 at 5:26 pm

    After BlockFi declared bankruptcy today, it's time to take a closer look at Nexo. Nexo 10% “Yields“ As you can see Nexo is paying 10% on stablecoins. Where does this yield come from? If the yield is greater than the “risk free” market rate, they are by definition taking directional risk to chase said “yield“. This is a big red flag! Nexo makes interest via collateralized borrowing to users, and it’s higher rate than the yield provided. The problem here is that in a system with no lender of last resort, the commercial bank model on crypto rails can blow up, quickly. “Liquidity issues”, and every customer have lost their money. Nexo also controls over 82% of the total supply of its tokens: Nexo Token Supply 85% of Nexo’s total assets held on Ethereum are Nexo tokens. This means that the platform’s backing could become compromised if liquidity issues mount. Nexo's Ethereum Assets Nexo is full of red flags and could be the next company to fall! submitted by /u/unitys2011 [link] [comments]

  • Users will now able to merge their NFTs into mystery boxes!
    by /u/ydwightonthemove (NFT) on November 28, 2022 at 5:24 pm

    Stay tuned for this feature! Read here: link.medium.com/GGKUPdXNjvb submitted by /u/ydwightonthemove [link] [comments]

  • Flamingo Army, mint one for 0.5Matic 👇🏼🦩
    by /u/AdAccomplished3722 (NFT) on November 28, 2022 at 5:06 pm

    submitted by /u/AdAccomplished3722 [link] [comments]

  • BlockFi has shut down their subreddit.
    by /u/rufus2785 (Cryptocurrency News & Discussion) on November 28, 2022 at 4:49 pm

    submitted by /u/rufus2785 [link] [comments]

  • RUG RADIO HOT AMA YALL! ft. Virtua (in an hour)
    by /u/Own_Resort9915 (NFT) on November 28, 2022 at 4:11 pm

    submitted by /u/Own_Resort9915 [link] [comments]

  • MultiversXDwarves . NFTart. Should i mint them?
    by /u/zzagzagg (NFT) on November 28, 2022 at 3:56 pm

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

  • Binance CEO explains 127K BTC transfer, points at proof-of-reserve audit
    by /u/rulesforrebels (Cryptocurrency News & Discussion) on November 28, 2022 at 3:34 pm

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

  • KuCoin confirms that it shuts down its futures exchange intentionally during volatile periods
    by /u/PossibleHypeMan (Cryptocurrency News & Discussion) on November 28, 2022 at 3:31 pm

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

  • Blockfi Files for Chapter 11 Bankruptcy
    by /u/YouHaveToGoHome (Cryptocurrency News & Discussion) on November 28, 2022 at 3:25 pm

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

  • Iconic hip hop song "Ric Flair Drip" by Offset & Metro Boomin is being sold as NFTs
    by /u/Suspicious-Pie2318 (NFT) on November 28, 2022 at 3:07 pm

    Some of you might have seen this already but the rights to one of the biggest rap songs from 2017 is being sold through anotherblock. 1000 NFTs with each including 0,00075% of the track If interested - you can read more here: https://anotherblock.io/ric-flair-drip submitted by /u/Suspicious-Pie2318 [link] [comments]

  • Coinbase Gives Crypto Winter the Cold Shoulder With New Hires
    by /u/Imaginary-Praline314 (Cryptocurrency News & Discussion) on November 28, 2022 at 2:51 pm

    submitted by /u/Imaginary-Praline314 [link] [comments]

  • MATIC Whale has been dumping on the market and it's (possibly) not over yet
    by /u/vinibarbosa (Cryptocurrency News & Discussion) on November 28, 2022 at 2:47 pm

    On-chain analysis identified the movement of one of MATIC's biggest whales, correlating some of its transfers with sharp price drops in Polygon's token, indicating a possible exit. And there are still about 39M left at the address 0xaac22*. This was originally published at my substack — You can access the OP for links and images. https://vinibarbosa.substack.com/p/matic-whale-has-been-dumping-on-the - MATIC “dumps” send the price down On November 15, 2022, the whale whose address begins with [0xaac22\*], redeemed an old staking of 79.38M from MATIC staking smart contract and started making partial transfers of this amount to the Binance hot wallet. Each new transfer occurred just before aggressive price declines, signaling possible dumps from the whale. I checked MATIC's whale information and transfers involving possible dumps and price drops were as follows, with their approximate values at the time of transfer: 11/15 – 79,386,224 MATIC (~$74.63M USD); 7.0% drop in price; withdrawal from the staking contract. 11/18 – 5,000,000 MATIC (~$4.40M USD); 4.4% drop in price; Tx to Binance. 11/21 – 10,000,000 MATIC (~$7.96M USD); 3.1% drop in price; Tx to Binance. 11/22 – 9,000,000 MATIC (~$7.65M USD); 2.9% drop in price; Tx to Binance. 11/24 – 9,000,000 MATIC (~$7.65M USD); 6.0% drop in price; Tx to Binance. 11/27 – 10,000,000 MATIC (~$8.45M USD); 6.9% drop in price; Tx to Binance. The current balance of MATIC's Whale is 36,460,765.58(…) which equals around $29,878,103.79, with today's price. It is possible that more dumps will continue to occur in the coming days, according to the pattern that has already been presented. MATIC Whale (0xaac22…) When studying the history of this MATIC Whale whose address is [0xaac22b3c17d3b31c6d0d7a9b6dd7a0a797c40339], we see that its first purchase took place on July 6th, 2021, in the amount of 100 MATIC. Appearing to be some kind of test. The second purchase was much more relevant, totaling 60,000,000 MATIC, made at CryptoCom three days later (July 9, 2021). The corresponding amount would be $63.08 million, on the day of transfer to the 0xaac22 wallet. That amount was almost immediately moved into the Polygon staking smart contract. The MATIC Whale continued to accumulate until it reached approximately 79 million of the tokens that were staked. There are other smaller movements indicating possible trades over the period. This address has been on Polygon's richest list for months, but now appears to indicate that it is interested in exiting its MATIC position. What would have motivated this decision? submitted by /u/vinibarbosa [link] [comments]

  • Binance moves $2 billion of bitcoin as part of reserves audit
    by /u/sacred_thinker (Cryptocurrency News & Discussion) on November 28, 2022 at 1:29 pm

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

  • Bahamas Official Gets Defensive as FTX Investors Ask About SBF
    by /u/1000xcoins (Cryptocurrency News & Discussion) on November 28, 2022 at 12:38 pm

    submitted by /u/1000xcoins [link] [comments]

  • Another $2B worth of Bitcoin withdrawn from Coinbase over weekend. Nearly 50,000 Bitcoin are withdrawn from Coinbase daily between Nov. 23 and Nov. 27 — equating to roughly $3 billion.
    by /u/mave_wreck (Cryptocurrency News & Discussion) on November 28, 2022 at 10:35 am

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

  • BTC’s supply on crypto exchanges has fallen below 7% for the first time since November 24th, 2018
    by /u/mesutdmn (Cryptocurrency News & Discussion) on November 28, 2022 at 8:23 am

    Looking at Glassnode’s chart, the current rate of BTC leaving crypto exchange platforms is at its highest in over four years. “Just 6.95% of Bitcoin is sitting on exchanges, according to Santimentfeed data. There had already been a gradual shift in BTC moving into self-custody going back to Black Thursday (Mar 2020). But with the FTX fallout, this trend has accelerated.” Earlier this month, Santiment noted that crypto has a history of bouncing when market participants shift their focus away from digital asset exchanges. “Crypto generally thrives when exchanges are NOT a focal point. The most impactful exchange collapse ever will have lasting shockwaves. But as shown, the key for a turnaround will likely be focus moving away from exchange tokens and back to Bitcoin.” https://preview.redd.it/eefp96h5jn2a1.png?width=2569&format=png&auto=webp&s=ed7eb843ceaeeceeef672fed1a9c36c070940986 Source: https://dailyhodl.com/2022/11/28/staggering-2800000000-in-bitcoin-btc-has-exited-crypto-exchanges-in-just-one-month-glassnode/ submitted by /u/mesutdmn [link] [comments]

  • Hellish Creatures Artwork (Art Gallery)
    by /u/HellishCreaturesNFT (NFT) on November 28, 2022 at 7:38 am

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

  • Kevin O'Leary might be the stupidest person in crypto. Listen to this interview about SBF and FTX
    by /u/moldyjellybean (Cryptocurrency News & Discussion) on November 28, 2022 at 3:37 am

    https://www.youtube.com/watch?v=eA0Uy926ozY Never listen to this guy Kevin, he's delusional. Sam had access to all trades, liquidations, insider info, listings, pumps dumps. Got commissions, Got into project that gave him free tokens, printed billions out of thin air with FTT and somehow he found a way to make losing trades and have shit risk and scam all his investors and customers. And Kevin is sucking him off, wishing to work with him again? I've seen some stupid stuff this year but I literally was lmao at this. If you have anything invested in Kevin's company you should exit ASAP. He seemed so risk adverse in that stupid show but here he is showing not an ounce of risk management before, during, after this FTX thing. Just remember this idiocy the next time he shills you something on his show or interviews. Hopefully this is enough characters. This is comedy, I'm pretty sure. Don't forget how stupid Raul Pal is either. I can't wait to see Jonah Hill play SBF in the stupid documentary submitted by /u/moldyjellybean [link] [comments]

  • r/NFT will be undergoing some changes soon. Discord restart coming after months of inactivity. Leave a comment if you are still here and what you want to see changed.
    by /u/citystates (NFT) on November 25, 2022 at 4:57 pm

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

  • Moon Week 33
    by /u/CryptoMods (Cryptocurrency News & Discussion) on November 24, 2022 at 10:31 pm

    Hello everyone and welcome to Moon Week for round 33 of Moons! For more information about Moons, please see our wiki page here or the Community Points page by the admins here. Moon Week began yesterday with the snapshot post by the admins. The ratio is at least 0.4271 and you can check out the post and comments to see an estimate of how many moons you'll be getting next Wednesday at the end of Moon Week. To give exposure to our governance polls for the month, this Moon Week post will remain pinned to the top of the subreddit until the distribution post next Wednesday. Please review the following important information first:: If you can't see polls or vote, or have any other issue, try again later or from a different platform (different browser, app, mobile, or desktop). These glitches usually resolve themselves within a few hours, but let us know if it hasn't after a day or two. You can't change your vote so make sure you read the full post and discussions, and ask any questions you have before you vote. There are people wishing they voted differently every month and you have several days to vote so there is no need to rush it. CCIP-006 implemented a 5% bonus for voting in at least 1 poll, plus an additional 1.25% for each additional governance poll was implemented by CCIP-014 You will also get a special badge for a week after voting in a governance poll. These are visible in the reddit app and new.reddit on desktop. If you have voted and yours is not showing, you may need to enable it manually by clicking your badges and looking at the Achievements tab. Successful polls are implemented whenever the mods or admins have a chance to do it. Usually this is within days or weeks of the poll passing, but depends on workload, priorities, and complexity of implementation A Few Important Notes First: The Moons Testnet to Arbitrum Nova bridge will shut down next week! If you have Moons outside of your vault, please remember to migrate any old moons you may have on testnet vaults/onchain addresses before next week As you may notice, CCIP-024 is running again. Users are welcome to rerun polls or ideas they liked that were not successful, especially from the time when governance was effectively gridlocked We have had many requests for notifications about new governance items, so we are adding CCIPs and Moon Weeks to the Governance Collection now. If you follow this Collection, you will get a reddit notification when new posts are added. You can do this from new.reddit on desktop or the official mobile app. Here's your poll(s) for this round of Moons. You can view the full CCIP list here. CCIP-024 - Let authors self-exclude their content from receiving moon rewards CCIP-045 - Implement character requirement for parent comments in SERIOUS discussions Thank you for reading, happy voting, and happy Thanksgiving for our USA readers! submitted by /u/CryptoMods [link] [comments]

  • I am the artist behind The Foustlings x Reddit collection. AMA
    by /u/tfoust10 (NFT) on September 15, 2022 at 4:46 pm

    submitted by /u/tfoust10 [link] [comments]

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