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.

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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!

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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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  • Anyone a skincare/treatments/Botox junkie?
    by /u/Longtermlurker022 (Financial Independence / Retire Early) on February 7, 2023 at 4:43 pm

    Part of my “rich life” is skincare treatments and Botox. Anyone have any hacks to maximize the spending on this? Like using a welcome bonus on new credit card? Or maybe using a specific card w certain perks for this type of spend? Curious to hear other thoughts and hoping to meet a fellow skincare lover who is also in this FI community submitted by /u/Longtermlurker022 [link] [comments]

  • Anyone FIREd through online businesses?
    by /u/timblodoapp (Financial Independence / Retire Early) on February 7, 2023 at 1:25 pm

    Hi, I've been lurking around this sub for a while and I noticed, in many posts, that OP is usually an high earner who saved and invested over the years, to then FIRE relatively young. I wonder if there are stories of people starting from scratch and manage to FIRE though online businesses (digital assets, saas, youtube, whatever). submitted by /u/timblodoapp [link] [comments]

  • Would you date someone who's irresponsible with money?
    by /u/froopaux (Financial Independence / Retire Early) on February 7, 2023 at 12:52 pm

    So I'm at CoastFire. I nice guy dropped in my lap. Unfortunately, he seems to be irresponsible with money. He took 40k out of his 401k to buy a Jeep. He currently has 20k in his retirement. I'm in my 40s. He's in his 60s. Should I date him? Everything else seems A OK. Well, he's pretty needy but he seems like an honest person. submitted by /u/froopaux [link] [comments]

  • Daily FI discussion thread - Tuesday, February 07, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 7, 2023 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]

  • First Time Poster - Hypothetical FIRE
    by /u/smwitz23 (Financial Independence / Retire Early) on February 7, 2023 at 2:32 am

    Brand new to posting on reddit and just discovered this channel recently. I played around with a few FIRE calculators and think I'm doing it wrong because it's telling me I can retire in 2 years... My wife and I have good jobs, I (39M) am in a sales role and earn around $300-$400K yearly and she (36F) earns around $150K. I will hopefully go through a level up this year increasing my total comp to $350-$450K. We max out our 401K (~$40K total) and HSA ($~3.5K total). We almost never eat out (I do take out once or twice a month) and are quite frugal. Our internet and phones are expensed through work and while we have a honeymoon planned for this year, we are doing this all on points. Overall, our expenses are consistent with mortgage, taxes, bills etc coming to around $7-8K/month. We just had a baby and I'm factoring his care into that total. We bought our house last year ~$1M and are pretty aggressive in paying down our mortgage with the market in such flux. We currently are paying at least an extra $20-$30K / year towards the principal. We are also making double payments right now towards our car loan $17K remaining. We each have ~$400K in savings/retirement and have about $300K in home equity. Just trying to get an idea of how we are doing and if there is something we should be more/less aggressive with. We'd like to get into some more "exciting" investments IE real estate or buying into a business etc. this year but that's undecided. submitted by /u/smwitz23 [link] [comments]

  • How to get over feeling guilty about spending money on yourself?
    by /u/space_cake_ (Financial Independence / Retire Early) on February 7, 2023 at 2:19 am

    Up until last year, I (34F) was working really long hours and making an insulting salary. I was poached and finally landed a job where I’ve been saving substantially every month and even hit my first goal after 6 months. I didn’t quite grow up poor but I did grow up with parents that didn’t always buy me the things I’d wanted and was told no a lot. Now that I finally have some disposable income I find it really hard to spend money on non necessities. I have bought some clothes here and there, some perfume and other Knick knacks that I normally wouldn’t have even considered buying previously. But today I went out and spent $500 on a Nintendo switch, something I’d be wanting to buy for over 2 years. Was I able to afford it? Yes. Did it affect my savings? No. Will it take away from me paying my bills? No. Will it make me happy? Yes. So why do I feel so incredibly guilty for making such a big purchase and like I should return it? (Sorry if this is not the right place for this) submitted by /u/space_cake_ [link] [comments]

  • Weekly FI Monday Milestone thread - February 6, 2023
    by /u/Zphr (Financial Independence / Retire Early) on February 6, 2023 at 2:41 pm

    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/Zphr [link] [comments]

  • Daily FI discussion thread - Monday, February 06, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 6, 2023 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 - February 06, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 6, 2023 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]

  • Do You Spend More or Less Than Average?
    by /u/aristotelian74 (Financial Independence / Retire Early) on February 5, 2023 at 11:05 pm

    FIRE depends on saving a lot more than you earn while working, then investing the difference. It can be achieved either by having a high income, or by low spending, or a combination of the two. Most of us view ourselves as frugal, but I am curious how much is that really the case. Best I can determine, here is the annual spending for various household sizes: 1: $49,944 2: $76,320 3: $87,079 4:$102,287 5: $97,676 (yes, average family of 5 has lower spending than family of 4, go figure). I am curious, is your spending higher or lower than average? Of course these are general numbers so feel free to explain and make your own adjustment for cost of living etc. Source: (Article is based on 2021 dollars. I have added 10% to adjust for 2022 inflation). submitted by /u/aristotelian74 [link] [comments]

  • 4% Rule or similar - withdrawing during FIRE
    by /u/byb747 (Financial Independence / Retire Early) on February 5, 2023 at 9:57 pm

    For those who FIRE'd already...are you withdrawing SOLELY from retirement accounts or are you withdrawing some or all from regular taxable accounts? If so, how do you manage taxes for capital gains, etc.? submitted by /u/byb747 [link] [comments]

  • Looking for advice. Are we on track?
    by /u/undefined_variable_0 (Financial Independence / Retire Early) on February 5, 2023 at 7:02 pm

    Hey everyone - I’m looking for some advice from others who are pursuing financial independence. Specifically, I’m trying to get an idea of how my fiancée and I are doing and what our next steps should be. I’ve been passively pursing FIRE as a goal for maybe four years now but I’ve gotten to the point where I kinda feel a bit lost as to where I should invest my time and money next. I also sometimes worry that we’re not very “on-track” with regards to our FIRE journey since we started saving later. I’ve been investing pretty consistently (albeit with pretty inconsistent monthly amounts) since I started but if I’m being honest with myself, I don’t have a real strategy or proper allocations. I’ve been considering a financial advisor but I’ve also seen compelling arguments saying that it isn’t worth it due to fees. For context, I’m a 32m living with my 31f fiancée in a MCOL midwestern suburb. We are both Software Engineers working remotely and have a household income of $315k (she makes $135k and I make $180k). Here’s an outline of just my current financial situation: ~$65k in cash (currently in a standard bank savings account - working on moving over to a high-yield savings account) ~$62k between two brokerage accounts ~$12k in a Roth IRA ~$40k between a few 401k accounts ~$100k in home equity ~$25k in car equity ~$16k in student loan debt (which I’ll probably pay off in lump sum once it begins accruing interest again) My fiancée doesn’t really have any net worth yet due to some previous debt she’s been paying off (started a small business but it didn’t work out). However she’s been paying it off aggressively and will have all high-interest debt paid off in about three months. She only recently changed careers and started making a lot more money so despite not having anything saved yet, she’ll be able to save quickly after payoff. She’s never really been in the FIRE mindset before recently. Mostly due to her having debt but that’s quickly changing as she approaches being free of that debt. She’s been working really hard to get there and I’m really proud of her. In terms of the investments that I currently have, they’re mostly in well-known ETFs like VOO, VGT, VYM, VNQ and a few similar ones. I’m able to save probably 60% of my income easily but I don’t have a specified amount that I invest per month. It’s usually like $2-$5k per month but sometimes I invest less than that if the market is daunting (like during this past year). I’m not currently contributing to my company 401k because they don’t offer a match. In general, I’m kind of averse to investing too much into 401k due to all the limitations for people intending to retire before 65. I know there are some caveats to this but 401k accounts make me nervous due to feeling like my money is really “locked up”. I’m curious as to what others think about this. All in all, I’m very interested in what this community thinks about our current situation and FIRE potential. What are we doing wrong and what should we be doing instead? Our early retirement goal is far from set in stone but we’ve discussed that it would be great and possibly feasible to retire at 45-50 with $2-$4m. It’s also likely that we wouldn’t completely retire and do nothing (at least until a later age). We’d likely still do some part time work or contracting. My fiancée is ridiculously crafty and I could see a possibility of her starting a small creative business. I’ve also thought about starting a small business myself one day but who knows. submitted by /u/undefined_variable_0 [link] [comments]

  • PSA: You might be paying more in 401k fees than you think
    by /u/Fortypercentt (Financial Independence / Retire Early) on February 5, 2023 at 5:01 pm

    Your expense ratio on funds you buy may be close to zero but please check your program fees: On Fidelity: Go to plan information and documents --> required disclosure information --> then scroll to program fee and you may have a program fee and/or an "Advisor/ Consultant fee." Companies like Fidelity have caught on to everyone looking at expense ratios and hide their fees. I just found out at my new job I am paying close to 1.5% of my total account value per year even though my index funds have an expense ratio of 0. If someone has similar fees they should take 401k company match then max IRA before maxing 401k. submitted by /u/Fortypercentt [link] [comments]

  • Am I the asshole?
    by /u/rmak321 (Financial Independence / Retire Early) on February 5, 2023 at 3:40 pm

    The company I work for decided to change 401k providers. We were asked to liquidate our 401k positions to cash on Jan 5th so the accounts could be transferred to the new provider. The final date that funds are scheduled to be fully vested under the new provider is Monday Feb 6th. In the month that our accounts sat in cash, the SP500 gained 8.62%. An 8.62% gain in the market represents about $28,000 of gains that I missed out on for reasons that had nothing to do with my investment strategy. I am a buy-and-hold index investor. I held through the brutal year of 2022, knowing that if I held onto my positions through the down market, I would be rewarded when the market rebounded. Well... The market rebounded, and I missed it anyway. Changing 401k plans has no benefit to the employees that I can discern. The new provider has a UI that is more difficult to use and a much more limited selection of investments to choose from. The new plan also doesn't allow for after-tax non-roth contributions or in-service transfers, making mega backdoor Roth conversions out of the question. The decision to change providers was made by the company, for the company's benefit. Shouldn't the costs and risks involved be shouldered by the company? Why are employees being forced to time the market with their retirements savings? This isn't some abstract expected value calculation - I can tell you exactly how much this transition cost me, and that figure is $28,000. I've lost my temper during a few conversations with upper managers on this subject and I'm admittedly having a difficult time maintaining my professionalism. Coworkers are telling me I should calm down and saying things like "It could have gone the other way"; "the market could have gone down"; "you shouldn't be too results oriented, we just got unlucky, the expected value of being out of the market for a month is much less". None of this makes me feel any better! The fact of the matter is that my 401k balance would be $28k higher today if this transition was never forced on us. Am I the asshole in this situation? There's nothing that can be done about it at this point, so there's probably nothing to gain by complaining to everyone about it. I feel sick over it though and I can't stop thinking about it. One last comment to help put this into perspective - The IRS employee contribution limit for a 401k is $22,500 in 2023. I will have to max out contributions for more than an entire year to make up for this loss! Also, the SP500 has a historic nominal annual gain of 11% if you include dividend reinvestment. My retirement account will be $640k lighter than it should have been in 30 years. This has a huge impact on my FIRE plans. EDIT: Thanks for the responses. There's nothing productive that can come from me steaming about this. Hopefully this serves as a lesson for others - ask the tough questions beforehand! submitted by /u/rmak321 [link] [comments]

  • Rat race: another way to visualize investing early
    by /u/Tresmont (Financial Independence / Retire Early) on February 5, 2023 at 2:58 pm

    If you’re not a competitive person, disregard this post. With that out of the way, let’s say you’re someone who likes to compare your net worth with others. How much net worth would it take to almost always be richer than a HENRY saving 70-100k a year starting from zero? The answer is around 1 million dollars. This is because on average the market returns 7% after inflation and 10% nominally. So after one year, you’ll have 1.1 million without investing another cent, while the HENRY will have 100k. The difference remains the same forever assuming constant returns. It’s even worse for the HENRY during a bull market when annual returns exceed 10%. The only time they can catch up is during bear markets. To save 100k a year, you’ll need an income of at least 200k a year if you live very frugally (like a college student), or around 300k a year if you have a 50% savings rate after tax. So if you think in CoastFIRE terms, 1 million dollars invested is the equivalent of earning 300k a year with 50% savings rate. 400k net worth is the equivalent of earning 100k a year with 50% savings rate. To almost always be richer than the average household earning 60k a year with a 50% savings rate, you’ll need 250k invested. To beat the average responsible household with 20% savings rate, you’ll need 100k invested. To summarize, here are approximate CoastFIRE levels at age 25-30: 100k net worth: not save another cent and be richer than the average American at retirement 250k net worth: not save another cent and be richer than the average American with 50% savings rate. 400k net worth: not save another cent and be richer than someone earning 100k a year with 50% savings rate. 1 million net worth: not save another cent and be richer than someone earning 300k a year with 50% savings rate. 5 million net worth: almost no one working a regular job will ever catch up to your net worth. submitted by /u/Tresmont [link] [comments]

  • Reminder for those who feel discouraged or have anxiety over savings rate. The median person only has $21,120 in retirement savings. 40% of retirees live solely off social security income. 62% plan on working during retirement.
    by /u/Impulse33 (Financial Independence / Retire Early) on February 5, 2023 at 1:30 pm

    You're doing well! Enjoy the path to FI and don't let financial set backs get you down. Savings number based from the the Federal 2019 Survey of consumer finances by using an expanded definition of retirement savings. Rates pulled from with SS rate based on a report by NIRS and working rate based on 2021 retirement survey done by Schroders. submitted by /u/Impulse33 [link] [comments]

  • Daily FI discussion thread - Sunday, February 05, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 5, 2023 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]

  • Moving all pre-tax contributions to 401k. Am I thinking about this right?
    by /u/QuenchiestJerkbender (Financial Independence / Retire Early) on February 4, 2023 at 7:59 pm

    My spouse and I haven't always made good money, and for years we were solidly lower middle class. Recently, we have both sorta broken through at our jobs since I switched to a higher paying career and my spouse got into software development which has resulted in us basically doubling our income over the last year or two and putting us on the cusp of upper middle class. We used to contribute an even amount to pre-tax and after-tax retirement accounts as I wasn't sure how our incomes at the time would compare with our retirement income. Well now our current income is much higher than we expect it to be in retirement as we easily live on 50% of our income, save about 25%, and the rest goes to taxes. I'm planning to switch all after-tax to pre-tax contributions and basically stop contributing to Roths completely. Am I missing something here? I would love some feedback on this. Has anyone gone through something similar? ETA: We are in our late 20s, planning to CoastFIRE around 35 and actually retire at the normal age so we will only be contributing to our retirement accounts for maybe 7-8 more years. submitted by /u/QuenchiestJerkbender [link] [comments]

  • Rate the plan pls:
    by /u/Sebvad (Financial Independence / Retire Early) on February 4, 2023 at 6:24 pm

    Age 50, married, spouse intends to work until 67 and her salary covers our current annual expenses of $70k with our home fully paid off. We have no debts. Networth: $2.8mm. $1.8mm in 401k, $600k in primary residence (paid off), $400k cash/T-bonds/short term funds (currently averaging about 4% return, with about 30% of that will begin to be dollar cost averaged into index funds). $18k pension available once I hit 65. Am viewing my job as short term – it’s a high earning role, but as with many of these types of roles, the burnout is real. I’ll hold onto it for a year or so – maybe more, maybe less – but my mindset is that I think we’ve built sufficient retirement padding that it doesn’t matter if my job remains intact or not. If my wife continues to contribute to her 401k at a rate of $800/month for the next 15 years – at a compounded interest range of returns of 5% +/-2% - that puts the 401k nest egg at $3-5million by the time we hit 65, plus $18k pension, plus estimated $40k SS (currently our combined SS estimate is above $50k, but I risk adjusted it downward to be conservative). If the intent would be to be able to cover future expenses that are 2x what our current expenses are (so $140k/year to risk adjust up for inflation as well as things like increased travel, etc) – I’m fairly sure we’re in a position that if my income goes to – and stays at – zero from here on out – we’re fine. I wouldn’t see myself as be able to do nothing for the next 15 years – so there would likely be something part time that would generate a little income – but essentially beer money. Have I assessed this accurately, or are there gaping holes? My wife is a tenured professor – so the risk of her losing her job is quite low. Thank you! submitted by /u/Sebvad [link] [comments]

  • Daily FI discussion thread - Saturday, February 04, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 4, 2023 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]

  • what are some alternative living situations to FI faster?
    by /u/mikel0202 (Financial Independence / Retire Early) on February 4, 2023 at 4:20 am

    I've seen people live in tiny houses, house hack, rent a room, etc.. I'm just wondering what people have done or wish they would have done that would set them up for years down the line. personally I love the idea of house hacking, but with these market prices and not knowing how to pick a good property and roommates I'm a bit confused on the process. any books, videos, and resources that would help with the mindset as well would be great! thank you! submitted by /u/mikel0202 [link] [comments]

  • Paying for kids college in FIRE
    by /u/slash121200 (Financial Independence / Retire Early) on February 3, 2023 at 7:06 pm

    It was suggested that I start a top level post on this subject. My wife and I are 100% FI. Basically we're getting close to having a couple of kids in college, so it's time to start figuring out what that's going to look like for our finances. We're planning to pay for some of their education, but leave them responsible for the rest (presumably with loans). We haven't decided exactly how we're going to handle the split between us and the kids, but our initial thinking was to cover about half. I was not involved in this process when I went to college (my parents setup the loans, and I paid my parents, who then paid off the loans). At the bottom, I'll outline some of the details about our financial situation. How will our financial situation influence our kids ability to obtain loans for college? Outside of the 529 plans we setup (which I understand wouldn't be a taxable situation), are there any other tax considerations for any extra income we will need to take to help pay for some of their college expenses? I'm assuming our income will need to go up when our kids are in college. I know that we can also take Roth IRA contributions out tax free, but would rather avoid doing so if possible. Are there also implications for health insurance? We get coverage through the healthcare marketplace (our kids get Medicaid), and I'd also assume that this extra income needed to pay for college would impact that coverage. I'm considering this now, with 4 years left before our kid's go to college because it seems like it would be good to start taking extra income now in preparation for college expenses, to even the income out (for optimizing taxes). Is it a sound plan to try to spread out that income in the years leading up to potential/probable spike in expenses due to impending education expenses? ​ Details: We have ~45,000 for each kid in 529 plan We're 44 and 46 years old Our current expenses are about 43,000 a year for a family of 4 (expecting this to go up when they are in college) Our assets are located as follows 12% Roth IRA 26% IRA 1% HSA 61% taxable investments We have no idea at this point where our kids will end up going to school. ​ Let me know if you need any more detail. submitted by /u/slash121200 [link] [comments]

  • Rental Income / Pensions/ Equities
    by /u/Critical_Grass (Financial Independence / Retire Early) on February 3, 2023 at 3:38 pm

    When tracking net worth and goals for financial independence how do you factor in things like pensions and real estate? For example my wife and I (30) have 204K Invested but its broken up into different types of accounts. (126 in index funds) 66k in teacher pensions (cannot access until 67) w/o a significant penalty. We can also pull out the value of the pensions as cash to invest when we stop working if we don't want the pension benefits but the contributions we are putting in aren't really making a return so if we pulled it all out early its basically just a savings account. .5 BTC currently valued around 12k ​ We also have two rental properties that we bought conventionally w/ 25% down. We are projected to make about 19K in 2023 from cashflow. We put down about 50K. So technically we have 254k invested? ​ I am having a hard time figuring out exactly where we are at in our journey to FI because of our different asset classes. For all projections I have just been imagining 60-80k a year in spending so 1.5-2mil in only index funds is our goal not including our pensions or real estate. However, I know we are farther along in our journey because of these rentals and forced pension contributions. Does anyone else have a similar issue? If so, how have you wrapped your head around where in your journey you are truly at. Maybe I am over thinking it. **I also try not to factor in BTC at all into our goal # because it can go to 0 just as likely as it can go up. We just thought the potential speculative upside out weighed possibly losing 6k. I bought .5 btc at 12K so we haven't really lost money but haven't made too much either. ​ EDIT: I will be very conservative for rental projections so we can make it 12k a year instead of 19k so people stop trying to critique the rental portfolio. Not trying to inflate how our investments are actually returning. submitted by /u/Critical_Grass [link] [comments]

  • Daily FI discussion thread - Friday, February 03, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 3, 2023 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 - February 03, 2023
    by /u/AutoModerator (Financial Independence / Retire Early) on February 3, 2023 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]

  • Tell me about a time you invested yourself
    by /u/Soggy-Wheaties (Financial Independence / Retire Early) on February 2, 2023 at 8:03 pm

    At a tough spot in my career/life. In the military, I worked and saved for 6 years. Left with an undergraduate degree and 130k net worth (no debt). Now I’m out, and wanting to pursue an aviation career. Being unemployed and spending 15k+ to get my certifications is really messing with me mentally, to the point I’m putting off lessons for no reason other than it hurts to spend money. The objective part of me knows it’s a small price to pay for a career I will enjoy a lot. But I’ve never spent this much money in such a short time, and I could use some times when self-investment worked out well. submitted by /u/Soggy-Wheaties [link] [comments]

  • End of January Event and the Early February Community Rules
    by /u/CripzyChiken (Financial Independence / Retire Early) on February 1, 2023 at 12:19 pm

    Hello everyone and Happy February! After an interesting and enlightening January event, we wanted to touch base real quick on what is going on here on the sub. The Mod team is currently talking about results from the last month, focusing a lot on the Feedback Survey, as well as our general feelings and thoughts on how things went. We didn't want to rush out with a rule change without ensuring that it is discussed at depth internally. Additionally, we didn't want to go back fully to what the rules were back in December. To help give some clarity for the next few days until we can get to a better long term solution, we wanted to update everyone on what is going to be the rules/enforcement for the near term future: "3 Reports to remove post and send to mod queue for human review" will be turned back on (note that once a mod takes an action on a post, the 3reports can no longer activate for that post). The karma filter will stay in place as is (a low amount of subreddit karma is required to post a new topic, no karma requirement for comments) The light/nonexistent enforcement of rules 5 and 6 will continue. Low effort and "better fit for a different sub" type posts will once again be removed (rules 1 and 4) and redirected to as is appropriate (daily discussion, FAQ/wiki, better sub, etc). We do want to clarify that these are NOT the long term rules. We are working on rewriting and rewording the rules based on feedback, but wanted to ensure the community knows what is expected until we can finish that, with an ECD of sometime this month. Thanks r/FI Mod Team submitted by /u/CripzyChiken [link] [comments]

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

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

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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.

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

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

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

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

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

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

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

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

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

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

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

We are here to fix the financial system.

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

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

The implications of decentralization

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

To quote the man himself:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

And this is not the best.

Let’s not forget of synergies.

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

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

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

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

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

You’re having too much hope in humanity dude…

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

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

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

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

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

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

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

1 PiB = 1125.9 TB.

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

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

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

Bitcoin Pro Arguments:

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

Bitcoin CONS Arguments:

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

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

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

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

The Active Trader: Buy high and sell low

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

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

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

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

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

Crypto: What to do in the bear market

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

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

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

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

Research coins for the next bull run!

Crypto Currency Market Cap Visualized during the Pandemic

Top 100 Cryptocurrencies by Market Cap

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

Latest News on Crypto:


1- Reddit

2- Reddit


4- NYDIG Power of Bitcoins Network Effect

5- The original Cypherphunk vision

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


NFT Crypto Blockchain Bitcoin Top Stories – Breaking News

  • Demystifying the Verge, Purge, Surge, and Splurge: Guide to the Ethereum Roadmap
    by /u/romowoop (Cryptocurrency News & Discussion) on February 7, 2023 at 9:25 pm

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

  • Reddit User Discovers 7zip File Possibly Linked to Julian Assange Hidden in Bitcoin Blockchain
    by /u/kirtash93 (Cryptocurrency News & Discussion) on February 7, 2023 at 9:14 pm

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

  • “Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge.“, the words of Satoshi Nakamoto on the scarcity of Bitcoin, 13 years ago.
    by /u/partymsl (Cryptocurrency News & Discussion) on February 7, 2023 at 8:52 pm

    If you would today ask people what is one of the biggest advantages of Bitcoin that put it apart from almost anything in the world, they would probably answer with the scarcity of Bitcoin. This concept of Bitcoin being super-scarce at 21M coins over its whole life-time was also done by Satoshi Nakamoto and was always meant to be one of the biggest traits of Bitcoin. In other words, Satoshi exactly knew what he was doing there. Here is the publication by Satoshi Nakamoto on the 6th February 2010 on a Forum: ​ Picture from documentingbtc on Twitter At first you can already see how Satoshi Nakamoto says “if it really gets huge“ we will have 21M coins, clearly showing that he never knew how far he would get with this project of his and he definitely could not have thought it would be where it is today. He definitely was not in for his money but actually wanted to propose a change of his to the world. The next two paragraphs are basically him talking about the problem that if it gets huge it will be difficult to be using decimal places to represent the value you hold as people won‘t be able to casually be 1BTC anymore. It is fascinating that this is actually a topic today. He proposed that we increase the decimal places and/or add a “,“ to make it a visually better number. Today, we know that we seem to tackle this problem by calling it mBTC (milli-Bitcoin) or more popularly a Satoshi, 1 BTC = 1000 mBTC and 1 mBTC = 10 Satoshi. Especially in the future it will get way more normal to talk about how many Satoshi or mBTC you have instead of BTC itself. submitted by /u/partymsl [link] [comments]

  • Algorand Foundation Decides on India Partnership, CEO Meets Up With Hillary Clinton In Ahmedabad
    by /u/brbinsky (Cryptocurrency News & Discussion) on February 7, 2023 at 8:42 pm

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

  • JPMorgan Institutional Survey Says Crypto and Blockchain To Soar in Prominence This Year - The Daily Hodl
    by /u/UnkownMillionare (Cryptocurrency News & Discussion) on February 7, 2023 at 8:32 pm

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

  • Bitcoin Briefly Tops $23.3K as Fed Chair Powell Repeats 'Disinflationary Process' Comment
    by /u/wileyfox91 (Cryptocurrency News & Discussion) on February 7, 2023 at 8:11 pm

    submitted by /u/wileyfox91 [link] [comments]

  • Crypto scammers taking advantage of the situation in Turkey and Syria
    by /u/Killertimme (Cryptocurrency News & Discussion) on February 7, 2023 at 7:34 pm

    With all the positive news going around in this sub about how crypto is providing relief for the horrible disaster in Turkey and Syria and helping the people there with immiadiate funds (fucking great), it really shows how disgusting people can be and how crypto gives them an easy platform to do that. During the day we have been seeing different accounts on twitter posting links where people can donate crypto for the people in Turkey and Syria. Many of them are legit but unfortunately some of them also are not. This is absolutely awful and maybe warrants a discussion on how crypto can make scamming easier and how this also affects the negative reputation that crypto already has in the public eye. These scammers will probably never face any repercussions and will continue what they have been doing for years. We can only educate people and be careful ourselves. I am not sure what the solution is and maybe this is the price we pay for decentralization. Still I also want to highlight all the positive news around crypto with Binance proving funds and legit accounts collecting donations for the victims. Screw all the people who are taking advantage of such a horrible situation. Please be careful if you decide to donate! submitted by /u/Killertimme [link] [comments]

  • Are you having a bad bear market? Did you sell everything last month expecting the market to crash? Crypto Complaints can help!
    by /u/Odlavso (Cryptocurrency News & Discussion) on February 7, 2023 at 7:26 pm

    Is this crypto winter not going as you imagined? Were you promised $10,000 Bitcoin? Did you not buy expecting prices to drop lower? Many of us have been in a similar situation and sometimes we just need someone to listen to us vent and help us walk trough our bad investment decisions without our wife/husband finding out how much money we actually lost. I created Crypto Complaints because when I decided to sell bitcoin at $17k to buy back at $10k nobody was there for me, so now let me be there for you. Simply call and one of our operators will quickly answer to listen to your problems and give you some advice if you want it, or simply call to vent. *not financial advice. We are affordable and will never judge you no matter how stupid your decision was. Special offer for r/cc members, 50% off if you mention Odlavso sent you. people rave about us online, these are three random people who reviewed our services. Our Operators are standing by waiting for your call. call 248-434-5508 (standard rates apply) US area code only What are you waiting for? Call now! submitted by /u/Odlavso [link] [comments]

  • Seed Phrase & Wallet Security
    by /u/shreyaskg (Cryptocurrency News & Discussion) on February 7, 2023 at 7:12 pm

    I was importing my wallet on a new device & it was successful but I couldn't see my balances. I freaked at first & upon checking I found out that I had entered the wrong seed phrase - I had switched two words so the order was incorrect. So I had accidentally imported someone else's account. Now my question is, what's stopping someone from entering random words to unlock wallets? As per my understanding no matter how careful you are, or if you use a cold wallet, there's a chance - however miniscule - that your wallet can be hacked. Is there anything that can be done to increase security to prevent this from happening? The probability of something like this happening is slim but can we negate it completely? Edit: I get that the chance of it happening is incredibly low, it just seems like a big deal to me cause it happened that easily. submitted by /u/shreyaskg [link] [comments]

  • Bitcoin Rises to $23.3K as Powell Repeats 'Disinflationary' Comment
    by /u/meeleen223 (Cryptocurrency News & Discussion) on February 7, 2023 at 6:05 pm

    submitted by /u/meeleen223 [link] [comments]

  • Nearly done, we are 69% through our way for the next Bitcoin halving. An upcoming historic event that will even further strengthen the foundation of Bitcoin in various ways.
    by /u/partymsl (Cryptocurrency News & Discussion) on February 7, 2023 at 5:28 pm

    If there is something that has kept many people bound to Crypto even during this brutal bear market for over an year now and that has made people look forward and anticipate an event in Crypto, it was undoubtedly the next Bitcoin Halving. This event, where the reward for each Block mined will once gain be halved this decreasing the BTC supply coming in, is scheduled to happen after each 210.000 block which will be roughly in April 2024. Thus we have now survived 69% (Yeah I know, nice) of the way from the last halving to the next halving and only have about 448 days left and 64k blocks to be mined. And as every halving, this one will come with various advantages for us and Bitcoin: Decrease the new supply, thus a rise of demand could immediately left the BTC price by much more (as previously happened) Bitcoin Inflation will be halved to now roughly 1.8% which is early below the inflation of Gold that can fluctuate even more, possibly making BTC even more scarce than Gold. People who bought during the halving have historically experienced a 500% return, does not men we will get the same though. ​ Chart from therationalroot on Twitter This chart also shows how every halving was happening just before a bull market rally that promised great returns, we should not bet on that always as a decrease in supply growth can only result in a price-increase if the demand is also there, which as we have seen in always volatile in Crypto. But more than an price-movement it is very bullish for the fundamentals of Bitcoin and thus all of Crypto which will only be more bullish for the longterm submitted by /u/partymsl [link] [comments]

  • Binance to Distribute $5M Worth of BNB to Earthquake-Affected Turkish Users
    by /u/ChemicalGreek (Cryptocurrency News & Discussion) on February 7, 2023 at 5:13 pm

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

  • FTX has chased politicians like Nancy Pelosi to return donations given before the crypto giant's collapse. They now have a deadline of February 28 to pay.
    by /u/wileyfox91 (Cryptocurrency News & Discussion) on February 7, 2023 at 4:30 pm

    submitted by /u/wileyfox91 [link] [comments]

  • Consumers to face 20,000 pound limit on digital pound, Bank of England says
    by /u/Feeling-Inside5147 (Cryptocurrency News & Discussion) on February 7, 2023 at 4:03 pm

    CDBC submitted by /u/Feeling-Inside5147 [link] [comments]

  • Turkish watchdog stretches rules and allows crypto wallets to collect aid
    by /u/unitys2011 (Cryptocurrency News & Discussion) on February 7, 2023 at 3:54 pm

    submitted by /u/unitys2011 [link] [comments]

  • [SERIOUS] Our crypto community is generously donating millions to Turkey and Syria in response to the terrible earthquakes
    by /u/Beyonderr (Cryptocurrency News & Discussion) on February 7, 2023 at 3:53 pm

    As you know, people in Turkey and Syria are suffering because of several terrible earthquakes. The crypto community is coming together and making donations. I hope you might consider joining the effort, even if it is just a small amount. IMPORTANTLY: PLEASE keep political views out of this post. Let's focus on how to help people hurt by this natural disaster. (1) People (+Avalanche Foundation) are making donations There are several crypto donation wallets for earthquake support. A major one includes the wallet opened by Haluk Levent, a famous Turkish rocksinger and musician. Within a couple of hours, the donations already exceeded $2 million. This includes a $1 million donation in AVAX from The Avalance Foundation. Some people from this community also already donated. Those who want to donate: ​ ERC20: 0xe1935271D1993434A1a59fE08f24891Dc5F398Cd BEP20: 0xB67705398fEd380a1CE02e77095fed64f8aCe463 Avalanche: 0x868D27c361682462536DfE361f2e20B3A6f4dDD8 You can donate for 7 days. ​ (2) Exchanges are making donations Binance just promised to "Airdrop $100 USD (1883 TRY) in BNB to Users in the Turkey Earthquake Region". This might not seem like a lot, but there should be plenty of users there and to the people who live in the region, this is actually a lot of money. Other exchanges also pledged funds. These exchanges include Bitfinex Bitget Bybit Gate io Huobi Bitget BitMEX If you find any other reputable ways to make donations, please share them. submitted by /u/Beyonderr [link] [comments]

  • Ethereum Testnet Successfully Processes First-Ever ETH Staking Withdrawals
    by /u/ImaFreemason (Cryptocurrency News & Discussion) on February 7, 2023 at 3:24 pm

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

  • Do Kwon's manhunt intensifies as South Korean officials travel to Serbia
    by /u/mesutdmn (Cryptocurrency News & Discussion) on February 7, 2023 at 3:14 pm

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

  • Cryptocurrencies have been mainstream for some time now, yet only 2 coins (BTC and ETH) are considered blue chips. Is this a good or bad thing for the crypto space?
    by /u/No_Weather682 (Cryptocurrency News & Discussion) on February 7, 2023 at 1:30 pm

    During the last few years, we have seen the crypto space achieve widespread recognition and adoption by people, companies and institutions. However, despite the growth of the market, only two coins, Bitcoin and Ethereu, are considered to be blue-chip investments. Some people may say that this only means that there’s still plenty of room for the market to grow, thus we will see plenty of other “blue-chips” in the future. As a consequence, the crypto space as a whole would reach bigger mass adoption and current blue-chips would grow even more. On the other hand, some would say that having only 2 blue-chips is a bad sign for the crypto space and it highlights the inherent risks in the cryptocurrency market. This could be considered one of the reasons many people still find crypto too risky as well as speculative. I know there is no standard definition of what constitutes a blue-chip coin. However, it is quite understood in the crypto space that only Btc and Eth could be considered as such. What are your opinions on this? Does it even matter? Is it too early to have more than 2? Is it a bad or good thing? submitted by /u/No_Weather682 [link] [comments]

  • Turkish rock star and charity establish crypto donation wallet for earthquake support.
    by /u/Tatakae69 (Cryptocurrency News & Discussion) on February 7, 2023 at 1:24 pm

    submitted by /u/Tatakae69 [link] [comments]

  • Algorand Foundation Declares Huge Collaborations in India to Push the Boundaries of Web3
    by /u/ccsnoomoji (Cryptocurrency News & Discussion) on February 7, 2023 at 1:23 pm

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

  • New FTX CEO Says Security Was so Bad Execs Could Have Stolen $500m Without Detection
    by /u/Sadboiiy (Cryptocurrency News & Discussion) on February 7, 2023 at 12:24 pm

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

  • NFT App Landing Page Design by CMARIX TechnoLabs on Dribbble
    by /u/Emilie_Tunc (NFT) on February 7, 2023 at 11:55 am

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

  • NFT Collection Mecha / Colorful Style
    by /u/thunderru (NFT) on February 7, 2023 at 11:35 am

    Hey everyone !, I got a whole collection with about 70 traits and I would like to sell it, contact me if you are interested ! here's some sample : ​ submitted by /u/thunderru [link] [comments]

  • Neural networks in art-sphere - is it good or bad?
    by /u/Odd-Pipe-6185 (NFT) on February 7, 2023 at 11:10 am

    Scientific and technological progress Today we are increasingly affected by the accelerating growth of scientific and technological progress. Science and new technologies are entering all spheres of human life all faster and deeper, having a significant influence on their development. But today, the development of scientific and technological progress is impossible without the usage of artificial intelligence, which is based on neural networks in turn. Because many processes of scientific and technological progress use huge databases and on them based the necessary decisions are being made can be handled only by artificial intelligence. ​ Created by AI Recently neural networks have also become widely used in the creative sphere. The common users create paintings, articles and even music with the help of neural networks. Legislational regulation can no longer get on with the dynamics of changes in this sphere. That's why the usage of neural networks in the arts is causing a lot of discussion in the internet. Some find it as unfair, what happening now. They believe that people appreciate most of all what was created by other people, and that's why the art should be rated by the quality and quantity of author's resources and talent invested in it. Others say that it is an inevitable process of progress. Still others esteem neural networks as just a useful tool for artistic discovery, generating ideas, or automating repetitive work. "Art-Battle" project The creators of the "Art Battle" project have brought to our attention a "confrontation" between images created and edited with the help of neural networks as well as graphics programmes and the pictures of real artists. Visitors of the website are judges, and everyone can vote for their favourite image. ​ Created by AI ​ All artworks created as part of the "Art-Battle" project can be purchased on the NFT platform. NFT stands for non-fungible token. NFT allows the sale and purchase of virtual objects, such as music, photos, paintings, and also protects the ownership of an asset on the blockchain based on the uniqueness of each token. Today many NFT platforms are flooded with low-quality, similar works, whose main value was the higher chance of super profits in the NFT market in times of low-interest loans. But we hope that eventually NFT will return to their original concept of market with a virtual highly artistic products. submitted by /u/Odd-Pipe-6185 [link] [comments]

  • Selling art as NFT, guidance needed, please
    by /u/_SMG_ (NFT) on February 7, 2023 at 10:54 am

    I am trying to “make it” in the art world and I haven’t dived into selling anything as NFT yet. Today, someone approached me on IG about selling them 5 of my works as NFTs. This is not the first time but this person doesn’t seem as blatantly scammy as others. Here’s my exchange so far with them. As you can see, I’m very skeptical but if any of you could give me some guidance, I’d appreciate it. submitted by /u/_SMG_ [link] [comments]

  • Super Sale! Only 0.01 Eth ($15)
    by /u/Candid_Meet_9780 (NFT) on February 7, 2023 at 10:52 am

    choose your zombie, become one of us. submitted by /u/Candid_Meet_9780 [link] [comments]

  • Understanding Metamask sign messages
    by /u/avataragain (NFT) on February 7, 2023 at 10:46 am

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

  • My collection ‘TRAVEL’ is dropping Feb 10 on Opensea…
    by /u/Sad_Stable2323 (NFT) on February 7, 2023 at 10:45 am

    submitted by /u/Sad_Stable2323 [link] [comments]

  • What does that mean? I claimed my card today but don't really know.
    by /u/_dxstressed (NFT) on February 7, 2023 at 10:15 am

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

  • Triller Metaverz, Drake & 21's Album Reaction | What’s Trending
    by /u/NoVictory8240 (NFT) on February 7, 2023 at 9:11 am

    submitted by /u/NoVictory8240 [link] [comments]

  • The Sunk Cost Fallacy: Sometimes you slhoud sell it even if you lose money.
    by /u/Not_a__Lawyer (Cryptocurrency News & Discussion) on February 7, 2023 at 8:09 am

    The sunk cost fallacy is the human tendency to continue with a strategy, course, or method even though it isn't working because of the amount of time and money they have already spent in it. Sometimes you know you invested in a shitcoin that's not going to recover. But often people put more money into a deadcoin trying to recover, instead of selling at a loss. We all saw this recently with Luna, for example. Please don't take this to mean that you shouldn't hold onto your cryptocurrency; rather, it means that if you find a better chance elsewhere, you should seize it rather than holding onto one that you no longer trust. I don't think this applies to any currencies that have good fundamentals. For example, I personally bought DOT nearly at ATH and I'm still holding. So be careful not to become overly attached to a project. submitted by /u/Not_a__Lawyer [link] [comments]

  • today i woke up and seen that a new avatar is claimable. these mornings are the best! thanks a lot reddit! go claim urs homies of reddit!
    by /u/Embarrassed-Syrup-25 (NFT) on February 7, 2023 at 7:19 am

    submitted by /u/Embarrassed-Syrup-25 [link] [comments]

  • Photo Diary of my recent 1-day vacation in Decentraland, the Largest and Loniest virtual mall in the metaverse
    by /u/Maleficent_Plankton (Cryptocurrency News & Discussion) on February 7, 2023 at 5:39 am

    I decided to take some time off shitposting and go on vacation in Decentraland. Here are the spots I've visited, including The Good, The Bad, and The Ugly. Overall, the user-created locations are very creative and pretty. But the game engine is just super-buggy. I hit an average of 2-5 bugs every 10 minutes. It was a dizzying and often-frustrating experience. Decentraland downloads locations as you visit them, so nothing is preloaded. Half of the time if I stay in a location longer than 5 minutes, some parts of that location will randomly despawn, and I'll be interacting with invisible objects. It's super annoying especially if I'm in a middle of a quest. There was one quest I had to restart 5 times because the objects kept despawning. Decentraland is also full of beautiful, empty buildings. Other than the starting location, you can walk around for 20 minutes without seeing a single person. I didn't expect the Metaverse to be such a lonely experience. Hinata Tower - One of the prettiest towers in the game. The inside of the tower are several giant transparent staircases, allowing you to climb to the top. ​ SOHO Plaza - One of the many community parks in the game. It exhibits many DeFi game NFTs ​ Dragon Plaza - This was once a Decentraland music venue ​ Asian Plaza - Another giant park in the game, this one featuring various traditional Asian buildings. Like most locations, it's completely empty. ​ Dollhouse - One of the few locations with people. The moment you enter, your avatar starts dancing to EDM. ​ Festive Road - A large road near the Genesis Plaza with beautiful arches. It would be awesome if this place existed in real life. ​ KB Homes - There are some actual businesses that opened up shop here. You can explore their 3 model homes. ​ KB Homes - The model homes allow you to tweak the configuration of each home ​ NFT World City - They built a whole mini with a hundred store and office spaces for rental from $100-500/mo. These are absolutely ridiculous prices considered that I only noticed 1/100 spaces being occupied. This is the largest ghost town. ​ AngZaar Output - Another random gigantic park ​ Genesis Plaza - There is a hot air balloon you can ride around the starting point There are so many locations featuring mini-games. I lost so many brain cells wasting time playing buggy games. Most games are similar to: Spend 10 hours collecting items around this location until you have enough to collect a free NFT worth $0.20. You're better off getting a minimum-wage job. There wasn't a single mini-game I found fun. Metamine - One of the locations featuring an incredibly boring mini-game ​ Random cars and girls The vast majority of DCL is empty spaces. Lot after lot of empty spaces, some of which are decorated by the DCL team. Empty spaces ​ Another empty parcel, decorated as a skate park ​ One of many random locations that don't really seem to have any obvious purpose About 20% of the spaces are ads ​ Giant ads everywhere. There are so many squatters, which makes no sense since there are so many unsold plots. ​ More ads ​ Reminds me of MoonPlaces with these ads and squatters. At least MoonPlaces sold out while only 25% of land in DCL is purchased. ​ More squatters. This one bought many tiles around the game and decorated it with Mario themes. I'm surprised it hasn't been hit with copyright violations. Unfortunately, I've hit the image post limit, and I've only gone through 20% of my vacation pics. Until next time. submitted by /u/Maleficent_Plankton [link] [comments]

  • Reddit nft price, I just got one of the 1/2mil Super Bowl nft’s, is this legit worth anything? Just wondering because it seems rather rare, and I’ve heard about some people legitimately offering money for Reddit nft’s. Just looking for advice
    by /u/Suspicious_Leg_9411 (NFT) on February 7, 2023 at 2:41 am

    Title submitted by /u/Suspicious_Leg_9411 [link] [comments]

  • Daily General Discussion - February 7, 2023 (GMT+0)
    by /u/CryptoDaily- (Cryptocurrency News & Discussion) on February 7, 2023 at 12:00 am

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

  • MetaMask account hacked for ~$40k. Funds got routed to a >$20m dollar account. Is it a massive ring? A money laundering service?
    by /u/daroons (Cryptocurrency News & Discussion) on February 6, 2023 at 11:15 pm

    Before anyone says anything, yes I know I'm an idiot for not using a hardware wallet for such a large amount. Yes, I know it's as good as gone. No, I did not share my recovery phrase or secret with anyone or sent it to anyone or any website. I did import my private to the MetaMask extension, which I know is the valid version because I downloaded it from their website. I also did this nearly a year ago, yet my funds were only taken out of my account about a week ago. In fact, until just a couple days ago, the last time I even interacted with my account was over 3 months ago. Maybe it was malware, who knows. Either way I went ahead and nuked my computer (OSX) with a fresh reinstall. ---------------------------- Essentially, I had ~$40k of DAI sitting on two separate addresses (both imported into MetaMask). Around 7 days ago, this amount (and the little FTM i had sitting in one of those wallets) were stolen and transferred to a fresh address. The only action that that wallet then do was convert all of the DAI to FTM before sending that to yet another fresh wallet which then proceeded to forward that FTM in 6 separate batches, all to the same third fresh wallet, which then forwarded all of those to a "final" address. "Final" because this last address has so much activity there is no way to trace which coins were "mine" anymore. The "final" address is: It has over $20m worth of assets. In fact, it is the 14th largest wallet on the FTM block chain. What is this wallet?? Is it the owner of some massive scam ring? Is it a money laundering service? Is it actually a legitimate wallet, that the scammer somehow is using to clean his money? Is it an exchange's wallet? At this scale, is it worth contacting the authorities? The amount on the account is $20m now, but so much money is constantly flowing in and out of it I doubt it stops at just that. I've tried using bitquery to track where the money is flowing but the graph gets so convoluted that it's almost impossible to make any sense out of it (perhaps thats why the scammer took so many hops to get to the "final" wallet). Please see updates: the $20m account actually belongs to an exchange called OKX. The culprit does not seem to be part of a larger ring as I first expected, more likely actually just a small fry. Of course if I can get my money back, that would make me the happiest boy in Springfield, but I am slowly coming to terms that it is gone forever. At the very least though I wish I could get some answers. ------------- Edit: Thanks for all the replies and advice. I'm going to stop replying now since I'm tired and am going to keep investigating using the tools shared with me. Let this be a warning to everyone, don't assume you are safe out of statistics. You don't have to be blatantly dumb to be taken :\ take security seriously. ------------- Update: From those throwaway wallets that were used as an intermediary to that massive $20m account, I was able to view their transactions on a different chain, specifically the ETH chain and followed their transactions to an "OKX: Hot Wallet". Which seems to be a service that uses KYC?? I might actually have a lead on this guy after all! I am starting to think this guy is a small fry and the $20m wallet is just an exchange wallet. Further update: Wow, I was way off from the beginning. This is no big operation. It's just some dude. The second hop is directly to OKX. The $20m account is probably part of OKX's operations! If I can get OKX to cooperate with me and I'm lucky they might have him KYC'd. Another update: Even better, I found both a and some binance accounts connected to this address. Though these wallets are sending funds to the one I'm investigating, so they could either be the culprit, or another victim. Feb 7: As expected, OKX requires that I reach out to law enforcement before they will share any information. I'm filing a report now. Police report filed; let's see if anything comes out of this... submitted by /u/daroons [link] [comments]

  • Shoshana, Herald Of Dawn by Bardos - 3840 x 2160
    by /u/BardosThodol (NFT) on February 6, 2023 at 11:08 pm

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

  • My Friend is trying to get into NFTs but doesn’t know how to draw them?
    by /u/Sordei (NFT) on February 6, 2023 at 10:59 pm

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

  • Where do you usually learn about NFTs?
    by /u/NFT_hunterr (NFT) on February 6, 2023 at 8:24 pm

    Where do you usually learn about NFTs? View Poll submitted by /u/NFT_hunterr [link] [comments]

  • Selling nft’s, where do I sell them?
    by /u/viennadoll (NFT) on February 6, 2023 at 6:29 pm

    Hello, I am very new to this whole nft thing and am very interested in selling my own since I’m really passionate about my digital art. Where/how do you sell your nfts and where/how do you think I should sell mine? Please tell me about it ☺️ I’m a beginner and would love to start selling my own nfts and know more about it in general submitted by /u/viennadoll [link] [comments]

  • NFT selling - steps for my teenage son
    by /u/InitialOne6729 (NFT) on February 6, 2023 at 1:54 pm

    My 15 year old is great artist and is interested in selling his art as NFTs. He read some articles. But I was confused. Can anybody tell us steps or point to some tutorials to sell NFT for beginners submitted by /u/InitialOne6729 [link] [comments]

  • NFT Market Report: Resilient Growth with Ethereum Dominance and High-Value Sales
    by /u/samualdiaz666 (NFT) on February 6, 2023 at 12:41 pm

    ​ The NFT market saw a slight increase of 1.23% in sales last week, with total sales amounting to $232.49 million. Ethereum remained the dominant blockchain in the NFT industry, accounting for over 81% of all NFT sales, with $188.51 million. Otherdeed and Doodles were the top two NFT collections, seeing a growth of 44% to 58% compared to the previous week. The remaining top NFT sales blockchains are Solana, Immutable X, Cardano, Polygon, Flow, BNB Chain, and Arbitrum, with Fantom showing the largest increase in NFT sales at 73.81%. The most expensive NFT sales from the past week include Cryptopunks, Bored Ape Yacht Club, and Cryptopunks, among others. In addition, there was a 19.30% increase in the number of NFT buyers, totaling 481,917 in the past week. There were also 1,390,784 NFT transactions processed, a 3.21% increase from the previous week. Cryptopunks had the highest NFT floor value at 63.99 ether, followed by Bored Ape Yacht Club at 63.5 ether. The most expensive NFT sales from the week included Bored Ape Yacht Club #8,483, Cryptopunk #2,311, Cryptopunk #9092, BAYC #8,483, and Cryptopunk #9,611, among others. The NFT market remains resilient, with a steady increase in sales and participation. submitted by /u/samualdiaz666 [link] [comments]

  • gm vibenauts // just passed 25 ETH volume!
    by /u/DWBroodle (NFT) on February 6, 2023 at 11:44 am

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

  • I have created a collection of abstract objects, to which I plan to add more than 100 items. (Link in the comments)
    by /u/halbert370 (NFT) on February 6, 2023 at 10:35 am

    submitted by /u/halbert370 [link] [comments]

  • Just getting into NFTs, which wallets are best for NFTs?
    by /u/abcgfr (NFT) on February 6, 2023 at 1:57 am

    Hey all, I'm new to NFTs, but I've invested in crypto before. I've bought btc/eth on coinbase etc. I've never really used a web3 wallet and I'm looking to get one to purchase and store NFTs. Which wallets are best for both crypto and NFTs? I've done some research and I found that metamask isn't the best for NFTs but most people recommend it for crypto so I'm somewhat confused submitted by /u/abcgfr [link] [comments]

  • what are the characteristics of the NFTs that stand out for the young audience?
    by /u/Fancy_Forever8487 (NFT) on February 5, 2023 at 11:12 pm

    Hi everyone I need your help for a research project, my homework is rather I don't know how to describe in the objectives section of the document what are the characteristics of the NFTs that stand out for the young audience? submitted by /u/Fancy_Forever8487 [link] [comments]

  • Anyone in the Starbucks Odyssey beta who can explain how to complete Doing Good Journey?
    by /u/mattuccio (NFT) on February 5, 2023 at 8:02 pm

    I cannot figure out how to complete the "Bring Your Own Cup" activity to get the points and stamp. I purchased three different coffee orders with a reusable mug, received the 25 stars and 10 cent discount for each, but it never updates in the Odyssey app. Anyone who can share how they got this to work will be much appreciated! submitted by /u/mattuccio [link] [comments]

  • Question about minting NFT's on Rarible/Opensea
    by /u/fordgoldfish (NFT) on February 5, 2023 at 4:06 pm

    I have created an NFT collection. I have used Hashlips Engine to generate the unique NFT's with the traits uniquely assigned to each NFT, with values of rarest to common. However, when I have the folder in file explorer full of the 10k NFT's, do I upload the entire folder of .png's within Rarible or is there another way to do this? Do I just 'select all' the png's in the folder and copy-paste them into the upload window in Rarible/Open Sea? How would Rarible know that a particular NFT has a body that is 10% rare, and hair that is 1% rare for example? Does it automatically pull that from the Hashlips Art Engine javascript code I configured? Can you answer these questions for me or point me to the right direction on videos/guides on these questions? Trying to figure out the technical mechanics before I actually deploy. Thanks for your help! submitted by /u/fordgoldfish [link] [comments]

  • DarkMoon Light Butterfly III by Bardos - 5100 x 3100 - 3/3 in a series
    by /u/BardosThodol (NFT) on February 5, 2023 at 2:57 pm

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

  • Knight of Cups - Pervigilium Tarot
    by /u/Andoutfm (NFT) on February 5, 2023 at 1:20 pm

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

  • The Moons bridge to Arbitrum Nova has been deprecated. ~4.77M Moons will be burned next week
    by /u/ominous_anenome (Cryptocurrency News & Discussion) on February 3, 2023 at 6:45 pm

    The address can be found here and the Admins plan to burn the Moons next week. Why does it have so many Moons? It represents the share of Moons that wasn't bridged to Nova and lies in our previous networks. More than 90% of this is actually locked on Rinkeby Ethereum (4.1M Moons). This is an informational post. Since the bridge is deprecated nothing more can be done to migrate Moons from Rinkeby/Arbitrum Testnet to Mainnet. Mainnet was announced ~6 months ago and there have been numerous reminders to bridge any Moons still on other networks. If you hold Moons in your vault, or used the bridge in the past, they are already on the Arbitrum Nova network submitted by /u/ominous_anenome [link] [comments]

  • r/NFT Best of 2022 Mod Award Contest
    by /u/AsherFennec (NFT) on January 5, 2023 at 3:18 am

    Hey there r/NFT! As we go into this new year, we've decided to host a contest to give the creators of the best NFT projects promoted either on this subreddit or off-site the chance to win some Reddit mod awards. Mod awards are granted by moderators of subreddits and give the recipient one month of Reddit premium which gives the user 700 coins for each month they have the premium status. Awards will be distributed like this: - 1st place: 8 mod awards (8 months of premium, 5,600 total coins) - 2nd place: 4 mod awards (4 months of premium, 2,800 total coins) - 3rd place: 2 mod awards (2 months of premium, 1,400 total coins) - 4th-10th place: 1 mod award (1 month of premium, 700 total coins) In order to nominate a post, collection, or user, simply link their content in the comment section below and write a sentence or two as to why you think they deserve to get an award. Final award distribution will be done by the mods. Please note, projects that are not promoted on Reddit CAN ALSO BE NOMINATED! We will get in contact with the project owners and send them their awards to whatever account they would like them on. Nominations/comments will close on Feb. 1st, 2023, and winners will have to claim their rewards within 3 weeks of receiving notice that they won. If the award is not claimed, the coins for the award will remain in the mod coin vault until our next event. submitted by /u/AsherFennec [link] [comments]

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