Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

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

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.”

2022 AWS Cloud Practitioner Exam Preparation

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

  • 10 Passive Income Ideas: How I Make $11,000/Week
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 7:14 am

    Not many people know about the world of passive income, but once you get started, it can be incredibly rewarding. In this post, we’ll go…Continue reading on Medium »

  • Passive Income Ideas: The 10 Best Ways To Make Money While You Sleep
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 6:51 am

    I’m going to let you in on a little secret: I make money while I sleep.Continue reading on Medium »

  • How Matt Par makes over $100,000 each year from many faceless YouTube channels
    by The chai sip (Passive Income on Medium) on June 26, 2022 at 6:51 am

    How many times have you thought of making a YouTube channel and backed off? I mean what’s the reason for backing off? Creating lots of…Continue reading on Medium »

  • How Matt Par makes over $100,000 each year from many faceless YouTube channels
    by The chai sip (Money Making Ideas on Medium) on June 26, 2022 at 6:51 am

    How many times have you thought of making a YouTube channel and backed off? I mean what’s the reason for backing off? Creating lots of…Continue reading on Medium »

  • 10 Passive Income Ideas: Making Money While You Sleep
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 6:41 am

    If you’re a savvy investor, business owner, skilled worker, or otherwise smart human being and you’re looking for ways to make more money…Continue reading on Medium »

  • 9 Passive Income Ideas: How I Make $11,000/Week
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 6:23 am

    There are many ways to make money, but only one way to make money without giving up your time: passive income. Passive income is when you…Continue reading on Medium »

  • lifestyle change: keep job or switch careers
    by /u/fidmeister (Financial Independence / Retire Early) on June 26, 2022 at 5:11 am

    Lifestyle decision change. Keep job or seek job change So I am having a difficult deciding on what to do between staying at my current role and attempting to stay at the same company by promotion. Or option two: attempting a change in jobs due to higher financial gain. I am currently a credit analyst that makes roughly $45K. The role is 10-7pm Mon-Fri and I like the people I work with. The only thing I do not like is the drive. It's about 37 minutes one way. It was my first job after graduating with my MBA. I went straight from my undergrad completion to grad school while bartending to pay the bills. The bartending gig payed well enough and fit my schedule, but I knew it was time to move on to a "real job" one I finished my MBA. I was hired on as a temp in September '21 and was fully hired on this February. The work is decent and manageable, but I'm not scheduled for a pay raise until next April. They stated if I started in the role for 2.5 - 3 years, I could be a good fit as a financial analyst 1 for the company. The role probably makes low 60-65K. That's assuming for any open role that opens up in the area I live in. The company is based out of Texas so I would most likely need to move there for work. It wouldn't be too far from where I live currently so that's not a big deal. I currently live with my girlfriend and have very LCOL rent. I have no car payment and no kids. However, I still feel like saving is pretty tough for the amount of income I bring in. I do want to propose to my girlfriend within the next 4-6 months. So here is my other option that I considered that's very left field: applying for a federal job as an air traffic controller or FBI special agent...Yes, I'm dead serious. I have never had a job I've always wanted to have. I'm always been a jack of all trades, master of none. My current aspirations were to eventually get into a higher level financial role making a decent salary. I think I would like to get my CMA or CPA if possible down the line, but I'm still 2-3 classes short of being qualified for the CPA. On top of that, I'd still need to pass the exams and study for a solid 8-9 months to ensure it's done well. I'm the type of person that feels that work is work no matter what you're doing. I'm a realist. I'm willing to put up with the stress of more responsibilities if that gives me much higher gains. In this case, it takes quite awhile to get through the federal hiring process as well. Both options require added schooling to progress in their line of work. The downsides are this: something I've never done before, would have to move to learn schooling for 5 or 6 months and relocate. Plus the hours would be less than satisfactory. But at that level of pay, it would seem to be worth it for a good while if I take to it. I know if have to get accepted into these academies before I start planning anything, but it doesn't hurt to plan it way ahead. So here's what I'm really wondering about.... If I receive word about getting accepted into either of the federal programs, it would be start of next year and be done around the fall of next year possibly. If I just started with my job now, I would have a year and a half experience. Would I be better off sticking to my current situation with no idea of upward progression. Or do I give the FBI role or air traffic controller job a shot. Obviously, I would give 100% and follow everything through. It's just I don't exactly know my ceilings and likely setbacks with either case. It'd be nice to hear stranger's thoughts on the Internet. I apologize for the novel and my thoughts jumping around. Writing on mobile does not exactly do me any favors. submitted by /u/fidmeister [link] [comments]

  • I will do adsense loading and increase your adsense and get x3 passive income
    by Expertpromoter (Passive Income on Medium) on June 26, 2022 at 4:54 am

    Continue reading on Medium »

  • Can You Earn Passive Income Running A Lightning Node?
    by Damon Huang (Passive Income on Medium) on June 26, 2022 at 4:48 am

    What is a Lightning hub?Continue reading on Medium »

  • Ini terus bekerja tahun demi tahun, meskipun masa ekonomi sulit.
    by Wahyu din (Passive Income on Medium) on June 26, 2022 at 3:21 am

    Lakukan Lebih Dari Sekedar Bertahan… Anda Bisa Berkembang!Continue reading on Medium »

  • 5 Reasons Why You Should Invest in Gold
    by Praiseworthy Knowledge (Passive Income on Medium) on June 26, 2022 at 2:10 am

    Gold has been the most trusted and reliable investment for centuries. In fact, even during the Great Depression, gold prices increased by…Continue reading on Medium »

  • Das Leben kann einfach sein.
    by Alegio4 (Passive Income on Medium) on June 25, 2022 at 8:27 pm

    Einfacher leben bedeutet Sein und Tun statt Haben, Freiheit statt Alltagszwang, Genuss statt Übermaß, Vernetzung statt Vereinsamung…Continue reading on Medium »

  • What are the best skills to pursue to become FI as fast as possible?
    by /u/Top-Computer1773 (Financial Independence / Retire Early) on June 25, 2022 at 7:19 pm

    Give me three things you would say are the best things to improve in order to become financially independent. Skills that are highly sought after and paid well for. submitted by /u/Top-Computer1773 [link] [comments]

  • HOW TO MAKE MONEY ONLINE: 10 BEST WAYS TO EARN MONEY ONLINE.
    by Hashir Afzal (Money Making Ideas on Medium) on June 25, 2022 at 11:07 am

    First we talk what is online earning.Continue reading on Medium »

  • Daily FI discussion thread - Saturday, June 25, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 25, 2022 at 9:02 am

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

  • My Experience as a Freelancer vs. Full-time Job Worker
    by Maryam Awodele (Money Making Ideas on Medium) on June 25, 2022 at 2:55 am

    How it started vs. who I have becomeContinue reading on Medium »

  • Daily FI discussion thread - Friday, June 24, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 24, 2022 at 9:02 am

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

  • Weekly FI Frugal Friday thread - June 24, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 24, 2022 at 9:00 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]

  • Do you want to make money online?
    by Jenny (Money Making Ideas on Medium) on June 23, 2022 at 1:13 pm

    More people are becoming interested in free internet money-making opportunities every day. They desire to leave their monotonous…Continue reading on Medium »

  • Daily FI discussion thread - Thursday, June 23, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 23, 2022 at 9:02 am

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

  • Finding life satisfaction and passions outside of work
    by /u/WhileSerious (Financial Independence / Retire Early) on June 22, 2022 at 9:59 pm

    I currently have a ~$80-$100k job I can work hybrid, the office some and home some. The commute is also only 15 minutes. Last year, I made $150k and this year I am on track for $100k, with the possibility of higher six figure income in the coming years as we grow the business. The job is totally flexible, I work in a family business at a hedge fund doing research where my father is the PM (which I feel fortunate about, although a family biz can have pros and cons but all jobs have that), and I like that I am able to learn about managing my own capital on the side. I am considering studying for some certifications as well. We are trying to make connections with other family offices, some of whom are very wealthy, and we have the potential to grow exponentially. We also began working with a marketing group who is helping us scale the business. The downside is that the job can be a bit lonely. I wouldn't say I am passionate about the job. I am passionate about the financial stability, being able to support myself, build a nest egg, etc.. I have been told that maybe I should challenge myself more, which maybe I should?, but they aren't the ones paying my bills and I think I can challenge in other ways. I see some of my peers struggling in their very stressful careers, just trying to survive, and I don't want to minimize the benefits I am able to have or give them up without thinking it through. I occasionally get thoughts of doing other things in my career or considering other industries. I am currently 26. I feel conflicted because I don't know if I would want to sacrifice the relaxed and secure lifestyle for something more exciting or fulfilling (which may not turn out to be fulfilling). These opportunities could also include more stress, a tough commute, etc. So I think I am on track for FI if I can continue with this job for a few more years and see how much I am able to build upon my nest egg. I'm leaning towards staying at my current job, regardless of what better offers arise, so I am trying to find passions outside of work. I really enjoy fitness and exercise regularly and am able to connect with others in that way. I would love to get your thoughts here and also hear how some of you are dealing with something like this. Should I remain grateful for the current situation and find satisfaction outside of work or should I re-enter the rat race? submitted by /u/WhileSerious [link] [comments]

  • Are your mid 30's with kids as messy as mine financially?
    by /u/turtlepwr281 (Financial Independence / Retire Early) on June 22, 2022 at 3:39 pm

    I'm in the middle of it all right now. 34, two young kids. Wife is stay-at-home which is a great fit for us. I'm a structural engineer finally living in a LCOL area (Harrisburg) after successfully getting out of a HCOL area (Philly). My wife and I graduated in 2010, it was tough finding a job for both of us. I somehow got into engineering (it was tough, even with an engineering degree). My wife worked before kids, we were able to pay off our 104k in student loans by the time i was ~29. We found FI and quickly hit $0 NW around ~28. Between Student Loans, Retirement, and saving taxable assets for a house, we felt it was pick 2 out of 3 (sorry house, we'll buy one someday), so we're sitting on 2.5x my salary in investments, mostly retirement. We've slowly pieced together a meager downpayment, but after seeing what's available and at what prices we feel we need a MUCH larger warchest before buying someone else's home with 20 years of deferred maintenance. Right now we're saving 9% for retirement, ~8% to max out my HSA and putting away ~$500 a month or so in cash. Just doesn't feel like enough. I know we're in the messy middle. I know we're getting it done, but I feel like we should be further, despite making gigantic progress the last 6 years and being on track to hit my self-imposed goals at 40 and 43. Can anyone else relate? Tough to look around at the houses and cars that suggest everyone around me is pulling in $300k/yr. Am I crazy? Update 6/23 Thank you everyone for the kind words and support. Seems like we all get discouraged from time to time and need a bit of group therapy. Lots of good stories here and I wish everyone the best on their journey! submitted by /u/turtlepwr281 [link] [comments]

  • 4 Website to make $200-$500 monthly
    by Favour charles (Money Making Ideas on Medium) on June 22, 2022 at 1:01 pm

    Furthermore all that you really want to be aware: the rules, contact messages, rates, and what the experience is like An individual is…Continue reading on Medium »

  • How Much Does Spotify Pay Artists?
    by PROFIT PANTS (Money Making Ideas on Medium) on June 22, 2022 at 9:59 am

    The Swedish Streaming Music PieContinue reading on Medium »

  • Daily FI discussion thread - Wednesday, June 22, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 22, 2022 at 9:02 am

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

  • Weekly Self-Promotion Thread - June 22, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 22, 2022 at 9:00 am

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

  • Make $2000/week Through Done-For-You Automated Course Affiliate Website
    by The Organic Social Co (Money Making Ideas on Medium) on June 21, 2022 at 6:08 pm

    There are many aspects to digital marketing especially when we narrowed it down to affiliate marketing.Continue reading on Medium »

  • Best and easiest way to earn money by doing nothing.
    by Lenzynos (Money Making Ideas on Medium) on June 21, 2022 at 11:40 am

    This app pays you for sharing your unused internet bandwidth.Continue reading on Medium »

  • Daily FI discussion thread - Tuesday, June 21, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 21, 2022 at 9:02 am

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

  • Had a debate with my dad about importance of degrees.
    by /u/ea0995 (Financial Independence / Retire Early) on June 20, 2022 at 1:57 pm

    Not sure if this is the best sub to put this in. So the other day someone had seen a picture stating something like “i would never sell my degree for a million dollars” or something like that. I have a masters degree and was asked if i would ever sell my degree for that amount. My response was yes, in a heartbeat. My dad overheard and said how a degree is the more important that it puts you on a different level, etc. i basicaly said that i understand certain degrees give you a better job and more comfortable jobs and pay, but if i could use that million to invest in a few of the right properties, i could potentially be making as much if not more than what i make now and not have to work. I love my job and career but my dream is to be financially independent where even if i still work i can be like “im only here cause i like the challenge of the work but i dont need to be here once it gets boring or if my bosses are are screaming at me everyday”. My dad obviously disagreed and said how there are a bunch of people who would kill to be in my shoes, and how people see me with more respect now that i have a masters degree with a great job. We ended up just agreeing to disagree. To give some context on my dad, he grew up in a 3rd world country in one of the poorest areas of that country. He always dreamed of having a degree but because of money and opportunity he could only get a technical degree in agronomy which didnt pay alot in his country. He worked hard and came to the US in his 20s and was able to buy a few houses. So he does have the immigrant mindset of a degree can get you very far and it is everything. I dont blame him, its the mentality of alot of people in our town. Some of it to is pride as well. I think i know how the responses will be on this reddit. But whats your take on it? submitted by /u/ea0995 [link] [comments]

  • Daily FI discussion thread - Monday, June 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 20, 2022 at 9:02 am

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

  • Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - June 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 20, 2022 at 9:01 am

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

  • Weekly FI Monday Milestone thread - June 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 20, 2022 at 9:00 am

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

  • Is moving to Europe a viable way to avoid healthcare costs in early retirement ?
    by /u/toffeepreach (Financial Independence / Retire Early) on June 19, 2022 at 1:12 pm

    I am lucky enough to possess citizenship in Portugal and have seriously considered moving there in the past, but salaries for my industry are so much lower there that I decided to stay in the US. As I start to think about an early retirement (still nowhere close, probably 10+ years away) I am wondering what would happen if I were to move to Portugal after retirement or in some sort of ⠀partial retirement working a low stress job in Portugal. Can I essentially avoid the exorbitant US healthcare costs this way? I realize I'd have to pay higher taxes in Portugal, but still might be worth it? Especially if my income is lower? How will my investments be affected if they are all in US based accounts? Thanks for any advice submitted by /u/toffeepreach [link] [comments]

  • FI Open Discussion: Sustainable Investing (ESG, SRI, Universal Ownership).
    by /u/alcesalcesalces (Financial Independence / Retire Early) on June 19, 2022 at 12:50 pm

    I have noticed that the daily discussion thread occasionally has some rich, deep discussions that are unfortunately lost to time within a day or two. I think these discussions often have many facets that would benefit from a top-level post rather than one-off daily top-level comments that meander in a range of directions. To that end, I want to experiment with a new format of top-level posts in this subreddit where we can have a rich, focused discussion on a given topic that should be easily searchable and linkable in the future. The goal is share perspectives, opinions, and resources that others can easily find and benefit from in the future. I think the best format is the one /u/therapistfi uses for asking community questions in the daily thread. A top-level comment should have a bolded question that anyone can contribute their thoughts to. The asker can provide a concise answer in their comment asking the question or can post their personal opinion as a separate sub-comment. Anyone can ask a top-level question, ideally after reviewing that it's not a duplicate. I think there is only one important ground rule: Be civil and discuss in good faith. For this topic I wanted to raise some questions related to a blanket term of Sustainable Investing. This term covers a host of jargon like SRI (socially responsible investing), ESG (environmental, social, governance), impact investing, and universal ownership. ESG funds attempt to score companies on factors related to their Environmental, Social, and Governance profiles. The goal is to their screen in (purposefully include) or screen out (not invest in) companies that do or do not meet those criteria. ESG funds often operate through at least two lenses: one makes an argument that low-ESG companies are higher risk or have uncompensated risks and are therefore bad for the portfolio; the other makes an argument that investors now have an option to "invest their values" by excluding companies that are counter to their values, whatever they may be. For a skeptical, but fair, take on ESG fund construction and efficacy see this short blog post. I hope others can contribute as well. An alternative framework called Universal Ownership is proposed by Ellen Quigley at University of Cambridge's Centre for the Study of Existential Risk. There's a great summary of the framework in the article "Stock-picking for humanity." The framework essentially take the opposite view of ESG. Rather than avoiding companies with global risk or poor governance, the universal owner seeks out effective ways to alter their behavior. This can take the form of voting out (or in) board members or in changing where companies actually get their money, which is in the primary market (venture capital, private equity, and bond markets). Some initial questions, please feel free to pose your own below: Do you see a benefit, financial or otherwise, in structuring your investments to align with your personal values? Do you use ESG (or similar) investment strategies? If so, is your goal related to investing your values, seeking higher return, both, or something else entirely? ESG funds vary greatly in how they emphasize their three components. Which factor, if any, among Environmental, Social, and Governance is most important to you? submitted by /u/alcesalcesalces [link] [comments]

  • Daily FI discussion thread - Sunday, June 19, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 19, 2022 at 9:02 am

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

  • What is Substack? is it better than Medium?
    by Business Hive (Money Making Ideas on Medium) on June 19, 2022 at 7:55 am

    You don’t know what should you go with, either Substack or Medium.Continue reading on Medium »

  • FI/RE Principles are a Great Exit Strategy Hedge Against Start-Up/Small Business Risks
    by /u/Istrebityel (Financial Independence / Retire Early) on June 19, 2022 at 4:55 am

    Age 28, I've always been pretty decent about saving/Dave Ramsey principles but only caught on to the FIRE "movement" in the last 3 months. I was laid off from my full-time career at age 24 and decided to go full-time with my start-up (a technology education company/developer bootcamp). We've now been in business 4 years and gross ~$650K/year (with potential for growth). Last year, I took ~$110K from the business in salary and profits. I was going to do the same this year (reinvesting most of the remaining profit)... but FIRE has changed things. Like seemingly all business owners, whenever asked about my "Exit Strategy", I was taught to think in terms of the following 3 options: Get acquired (not super likely in my particular niche) Train my staff up to the point that they can run it without me so that I can fade into the background (literally every business owner I've ever talked to wants this — it happens... seemingly very rarely. Theoretically my staff could take over, but it would take many many years and a lot of lucky breaks) Build up a business model and products that make tons of passive revenue (i.e. SaaS, selling courses, etc. ) and then slowly just let that passive revenue take over. This is the one that all the gurus push on constantly (I've had like 8 business coaches tell me to do this) As I've learned more about FIRE, I'm BLOWN AWAY that none of my business coaches (who aren't idiots and whom I generally respect) have brought FIRE investing principles up as the secret, backdoor, most reliable backup exit strategy. Think of it this way: If I can prune my business enough (sacrificing some of the growth opportunities that come from re-investing $$$ into the business) to eke an extra ~$50K/year in profits, and then throw that $50K into tax-advantaged index accounts (i.e. maxing 401(k) + IRAs + HSAs)... then I can potentially have my cake and eat it too. In this hypothetical world, Options 1, 2, and 3 are still totally on the table — my business can STILL succeed and one day lead to a huge cash-out or reliable passive income. One might argue "But what if that $50K that you aren't re-investing is the key to your growth, and without that re-investment, your business slowly tanks?". My answer? Yeah, that's a risk... but $50K is only 1/13th of our total annual run rate. It seems more likely that we'll just adapt to be a little more frugal, a little less "moon-shot", and a little more efficient. And the REAL risk is: what if I re-invest the $50K back into the business, but due to other factors, my business slowly tanks and I never see Options 1, 2, or 3 materialize, and I'm left with nothing? Investing that $50K into index funds feels like this perfect happy medium. I still get to be a high-wire start-up owner with big upside potential, but if it all comes crashing down (or, more likely, remains somewhat steady but never really takes off), I'll have a chunk of change in my index funds as a "parachute" that validates all of the hard work that I put into the business over many years. Is this logic sound? Am I crazy? Why did none of my business coaches tell me about this????? edit: added a bit about how much I take out in profits edit 2: wanted to add a link to the book "Profit First", which provides much of the reasoning behind the "I would probably be ok if I just took an extra $50K from my business" thinking (i.e. his basic premise is "You're probably fine to take more money out of your business, because the more and more you re-invest the lower your ROI on your re-investments" https://profitfirstbook.com) submitted by /u/Istrebityel [link] [comments]

  • Daily FI discussion thread - Saturday, June 18, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 18, 2022 at 9:02 am

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

  • Re phase - what happens to your motivation?
    by /u/theusernamename (Financial Independence / Retire Early) on June 17, 2022 at 11:27 pm

    Hi everyone, I have some questions about the psychological impact of hitting your fi number when it comes to choosing how to spend your time. To the folks who have hit fi and decided to transition into working something you enjoy rather than quitting work altogether, how is your motivation for your current job/business? Did you always think you were going to continue to work in some capacity after hitting fi, or did you quit work and realise you missed it? With the benefit of hindsight, would you have been prepared to delay hitting fi in order to have an enjoyable career after you do? Background - I'm at the stage where all being well, fire is a few years away if I continue to work full-time in my current role, which is fully client facing. I do it well, but it's not really me. I'd be much happier doing my current role a couple of days a week, and something less client-facing for the rest of the time This is a role I can carve out for myself, but it would involve significant sacrifice in terms of time and money investment, and would certainly delay my fi date by a good few years I'm currently weighing up whether to delay my fi and look to set myself up with a job that I would continue to do even after I no longer need the money, or just grin and bear my current role for a few more years and work it out when I get to fi On the one hand, I don't feel ready to quit work and don't think I will be for a good few years, but on the other hand I worry that if I hit fi, i'll no longer have the drive needed to put the hard work in to carve an enjoyable niche for myself in a very competitive field I appreciate it's going to be a very personal decision, but I'd love to hear from people who've been there and done it, and can offer some insight into what happens psychologically when you finally got that elusive fi number TIA Tldr - people who have kept working after fire in something you enjoy, how worth it is it to make sacrifices to get into something you enjoy? submitted by /u/theusernamename [link] [comments]

  • People who are **IN** RE, how are you doing with the current beatdown in the financial markets
    by /u/zackenrollertaway (Financial Independence / Retire Early) on June 17, 2022 at 3:24 pm

    7 months ago, I posted https://old.reddit.com/r/financialindependence/comments/qm4aws/preparing_for_the_inevitable/ "FIREd 3 years ago at $1.3M....Sitting today at $1.7M....at some point in the future there will be a year (or 2 years of 3 years) when I finish the year with LESS money than I started with." In a "wow who could have seen THAT coming" way, I am at $1.5M this morning. I am doing ok with that. I am comforted by the fact that my current portfolio (60% stocks, 30% bonds, 10% cash) spins off around $40k per year in dividends and interest. So I do not need to sell at a loss to maintain my income level. That together with my $20K pension provides an amount adequate to my needs. If you are IN RE, how are you doing with our current down market? submitted by /u/zackenrollertaway [link] [comments]

  • 10 Easy Fiverr Gigs to Make Money
    by Amanda Chibar (Money Making Ideas on Medium) on June 17, 2022 at 10:02 am

    Anyone can do these from the comfort of your home.Continue reading on Medium »

  • Daily FI discussion thread - Friday, June 17, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 17, 2022 at 9:02 am

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

  • Weekly FI Frugal Friday thread - June 17, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 17, 2022 at 9:00 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]

  • Eight years after 100k [Update #8]
    by /u/LesWes (Financial Independence / Retire Early) on June 16, 2022 at 1:16 pm

    This is my eighth yearly update on my FIRE journey after reaching 100k 7 years ago. You can read the previous posts below: Eight years ago: I hit 100k of invested assets Seven years ago: I posted my first update Six years ago: I posted another update Five years ago: I posted another update Four years ago: I posted another update Three years ago: I posted another update Two years ago: I posted another update Last year: I posted another update ------This Year's Stats----- 38, Married, childfree Mint Snapshot and Net Worth History Total Assets = $1,480,017.08 Total Debts = $437,842.09 Total Net Worth = $1,042,174.99 FI Goal = $1.1M + a paid off mortgage. Debts = 353k mortgage at 2.500%, monthly expenses on credit cards paid in full monthly. Income = My Income (~190k/yr) + SO's income (~230k/yr) + Startup (~20k/yr). Expenses = Average $9.1k/month over the last 12 months. There are a lot of 1-off expenses though. Without those the average is $5.9k/month. 1-Off expenses are: Recreational vehicle damage (cracked a spacer during a track session) $2k 3 Vacations (including the entire month of Sept) $16k Buying a pet + pet equipment $4.5k Federal tax payment $8k Post-Airbnb Livingroom furniture $6k ​ -----Other Details----- The last year has been tough personally. It's not really on topic for this community, but I'd give it a 3/10, would not recommend. I think we had an easier than average time over 2020 being remote workers and owning a home. Now I think the postponed stress and anxiety that was mostly borne by essential workers in 2020, is coming home to roost for us. It feels like work and the administration of life is ramping back up to "normal", but socializing and self-care has gotten much more difficult. The startup was profitable last year, but not enough to warrant continued full-time effort. For most of the last year, I was the only full-time worker and starting around 6 months ago, I was putting in less than 10 hrs/week. Given that it was still profitable and keeping clients on very little time, I decided to Benjamin Button it into a side-gig. It was a surprisingly difficult mental exercise to feel OK with this, but I'm glad I did it because it was very lonely working alone. Consequently, I decided to go ahead and get a job again. It felt like the fastest way to get the socializing and collaborative work that I want. It also would provide a good counterfactual to test all my new skills and philosophies. One of the justifications for the startup in the first place was that even if it failed it would be better than an MBA. So far this seems to be true. I've only been employed again for a month but so far it's been great. Around the same time, my SO made a job change as well. As happens in sales, outsized success is often followed up with outsized goals. Their last role went a bit too far and it made more sense to move on. As every other job move, they got a huge jump in base pay and variable target pay. For the second time in a decade I've adjusted my asset allocation. As interest rates go up, I was feeling like there were better vehicles for the counterbalancing the coffeehouse portfolio style. I moved 5% of my bond allocation into stablecoin lending, which is making around 7%. I'm still getting comfortable with the risk profile. Obviously, the rates can change at any time so we'll see if this remains a longterm viable split. ​ -----Asset Allocation for reference----- Bonds-----------------------22% (VBILX) Stablecoin Lending------5% (GUSD mostly) S&P 500--------------------13% (VFIAX) Small Cap US-------------13% (VSIAX) Emerging Mrkt----------12% (VEMAX) REIT--------------------------12% (VGSLX) Global Capital Cycles--10% (VGPMX) International Large----13% (VTIAX) ​ GLTA! submitted by /u/LesWes [link] [comments]

  • Daily FI discussion thread - Thursday, June 16, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 16, 2022 at 9:02 am

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

  • Daily FI discussion thread - Wednesday, June 15, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 15, 2022 at 9:02 am

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


How 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.

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

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

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

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

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

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

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

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

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

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

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

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


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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.


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.

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.

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


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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.

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


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

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

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

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

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

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

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

And this is not the best.

Let’s not forget of synergies.

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


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

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

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

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

You’re having too much hope in humanity dude…

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

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

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

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

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


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

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

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

1 PiB = 1125.9 TB.

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


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

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

Bitcoin Pro Arguments:

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

Bitcoin CONS Arguments:

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

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

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

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

The Active Trader: Buy high and sell low

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


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

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

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

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

Crypto: What to do in the bear market


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

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

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

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

Research coins for the next bull run!

Crypto Currency Market Cap Visualized during the Pandemic

Top 100 Cryptocurrencies by Market Cap

Top 100 Cryptocurrencies by Market Cap
Data Source from https://coinmarketcap.com/

Latest News on Crypto:

Sources:

1- Reddit

2- Reddit

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

4- NYDIG Power of Bitcoins Network Effect

5- The original Cypherphunk vision

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

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

NFT Crypto Blockchain Bitcoin Top Stories – Breaking News

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