How Much Influence Do You Have On Your Financial Security? šµšµšµ
Influence is the single most important skill you can master in your lifetime. - Tony Robbins (American author, entrepreneur, philanthropist and life coach)
I have no doubt about that, Tony.
It seems that the main challenge in today's economy is not the CREATION of value but the INFLUENCE we have on its maintenance.
Probably that's one of the reasons why people try to find alternative solutions (like cryptocurrencies) to clearly define the value of their property and to protect it accordingly.
If tomorrow my bank told me that they needed my money to settle their debts, would I have any influence on their decision? How much of MINE is really mine?
How much influence do we personally have on our own wealth... I mean: you and me? Shouldn't it be 100%?
@surfermarly trying to estimate the value of her private property
Talking about influence on financial security
Now you might ask yourself: why is that surfergirl talking about money and markets if she has no idea about it?
Well actually I'm not talking, I'd like to dialogue. Because I've got uncountable questions š
I'm concerned about my financial security in the same manner everybody else might be.
Not even one day passes without being a bank affair discussed in the news.
Step by step I really understand why people set up alternative financial solutions that might protect their private property.
In a presentation sent to Business Insider a couple of weeks ago, Jeremy Liew (first Snapchat investor) and Peter Smith (Blockchain CEO and cofounder) laid out their case for bitcoin exploding to $500,000 by 2030. Source
So if the Bitcoin price (and with it the whole crypto market) is supposed to explode in such manner, why don't more people invest into it?
Volatility, bubbles, price swings... I've heard about that.
The price of a coin can rise and fall quickly, converting it into a risky investment without proper research carried out.
Yet the utility of cryptocurrencies in the context of financial security is evident.
These are the benefits Steem is offering me - as a blogger - on a daily basis:
- An additional income / way to monetize my content
- A future-oriented and protected (!) investment
- An innovative, stable, uncensored and fast way to realize payments
- A gateway into the crypto world in general (first time that I've been in touch with it)
Everybody wants to become an influencer in this blogging world. Now you can become even an 'influencer on your own assets'.
That's why we should all be Steem advocates in the end š¤š¤š¤
If risks due to price instability were managed and barriers broken, that would help more and more people take advantage of the benefits this exciting new landscape offers.
At the moment, crypto has a lot of catching up to do, but it's getting there at an accelerating and impressive pace.
Today's morning my dad (who's my boss at the same time) came into my office and said:
I turned my head around and stared at him for a little eternity. My conservative dad who's criticizing my crypto activities on a daily basis seriously started to read the news about coins now?
Have you read about this new currency Bitcoin Cash?
That's one small step for mankind, one giant leap for Marly šāļø
So let's promote it and get more people into it.
The more participants, the more stability in prices and value.
Marly -
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Original content. Quote found on sayquotable.com and brainyquote.com.
Yet the utility of cryptocurrencies in the context of financial security is evident
Say what?? How many times have you heard in the last 6 months about people losing their cryptos? or having their accounts hacked? Or having their coins locked/trapped on an exchange and they can't get at them?
Compare all the security crap currently going on in crypto market, to current operation of your bank account. Or operation of your credit card.
Cryptos are in general, currently crap when it comes to security. One of the biggest improvement opportunities that exists in my opinion.
Fortunately I personally haven't made any bad experiences in that context. But of course I've heard /read a lot about it.
My question would be if the problem is that "the new world" (crypto) is still not uncoupled from "the orld world" (fiat) and that's why e.g. exchange portals (being not based on the blockchain) have significant security gaps? It's not the single account that is hacked, it's the provider. Right? So the question is if this might be improved, once the exchange is made directly on the blockchain? I by myself would love to see a SteemXChange and then shut down my Bittrex account where I don't feel safe at all.
To avoid bad experiences, users of cryptocurrencies should educate (preferably themselves or someone they can trust) them selves of what security measures they must have. In a way, common sense (but we all know common sense is not common :-S)
Why don't you feel safe at Bittrex?
Bittrex (as well as other exchange platforms) freeze wallets from time to time. Officially they do that because of technical issues like in the context of a hard fork, for instance. A couple of days ago I couldn't access neither my Steem nor my SBD wallet there. Then it was the BTC wallet.
I don't feel safe if an exchange platform just locks my money without previous advice and I can't access it for an undefined period of time.
Then I accidentally transferred 100 SBD to my Steem wallet on Bittrex a week ago. After opening a ticket, the support team informed me that they would need at least two weeks to check that. WTF? Two weeks? I mean, the money is there and it's even from the same coin family. I just don't like the feeling that they haven't any control about their work load.
I wish Steemit Inc would set up an exchange service!!!
Just assisted someone with the exact same problem involving a couple of other exchanges but we did find a solution within a couple of days. 2 weeks is absolutely unacceptable. Agree with you that the exchanges should never lock or make unavailable our cryptocurrencies/digital assets.
Were you able to keep a straight face?
On the flipside, I am working on fixing an old (1907) phonograph (Similar to the picture below). The only folks who remember how to tune one of these are >80 years old. It's hard to find instructions on the internet.
Source
I'll bet you anything that at least 1 person at 1 time has sold an original, early 1900s booklet on how to tune one's phonograph on eBay.
I think I was like this: š š š
I was able to keep it like 3 seconds I guess... haha!
Omg I can't wait to hear those words from my family lol! :)
Haha, I can relate! It was an epic moment š
So much love for you right now, you better beLIVE! š
I totally agree with you specially on the last 2 sentences of this article!
Spread the words and fairness!
Thank you @englishtchrivy! I'm glad you agree :-)
:)
Well played!!
Haha, thanks.
Nice hobby btw! I would be lost since I don't have the patience to fix things š Like I'm not able to hold my face in situations like that, ha!
I won't be able to get to it for a couple of months, but when I do, I'll write a post.
It's a fun project. I have the machine and a box of wax cylinders. (This one is from before flat records became the standard)
Impressive! I've never been in touch with something like that. Drop the link when you've written the story, I'd be curious to read it!
Kind of :-))
Would you like a spatula? For your bunghole?
Diversify your wealth. That's the most important step. People that have debts shouldn't be rushing out to buy BTC either. Crypto is gambling, and people who sell walk away with other people's money. I own and love crypto, but I just hope people are being cautious. They shouldn't have all their hard earned wealth in one basket.
Good advices here! Thank you @finnian.
I think most of the people who invest into crypto have a diversified portfolio, that's at least my experience of talking to friends. However, when the market crashes then it's the whole market and not just one coin.
I personally haven't invested yet (besides the money I've earned blogging on steemit which technically is an invest :-)).
I have a little in a few baskets of different Crypto, and I'd like to have more. I currently own ZenCash, EOS, and STEEM with plans to get Ripple and BCH/BCC.
So you don't have BTC then?
I do not, no. When I saw BCC/BCH go below $200, I wished I had been in a position to buy some. I was not though, and I refuse to buy crypto on credit! haha
Haha, I totally understand that decision :-) Wouldn't do that either.
Discussions are definitely important @surfermarly. The more we talk about cryptos and put our discussions out in our blogs... and make that talk into "everyday conversation," the more it will gradually become more "normal" to people.
Mass adoption of pretty much anything-- from the "horseless carriage" to the Internet to now Bitcoin and cryptos... is a matter of a groundswell effort by early adopters to move those things from the world of the "dangerous new and unknown" to the known.
I have many questions, too... like "Why are they called CURRENCIES (rather than just "assets" or "investments") when it's almost impossible to actually go somewhere and BUY something with them?" And by extension, as part of our dialogue... how to we get to a point where I can walk down to the corner coffeeshop and buy a latte with BTC or Steem?
Thanks for your valuable addings, @denmarkguy. As always I appreciate them much!
Your words remind me of one of my favorite quotes regardings new technologies:
Mass adoption can only happen if we provide accessibility.
With regards to the word "currency" I've learned that it comes from Middle English: curraunt = "in circulation". Even though crypto currencies don't circulate physically they are traded and transferred from one account to another. So I guess the basis idea of a "moving something" applies still :-)
I'd love to buy a CafĆ© Latte at Starbucks with a Steem Card!!! š¤š¤š¤
Valuable discussions required, thanks for the hook @surfermarly - a sure 100% vote.
I think influence depends on some factors which sre different from country to country even we consider crytpo as part of our financial security efforts. As long as we have framework of various legal, tax, social rules influence depends on that. Plus on what assets you owned already, existing influencer network, ability to build influencer relations etc
Totally! Talking about geographical differences:
The worst thing I've ever come to know regarding financial security is curruption. It's probably the unfairest challenge you might ever face in business affairs. We've got a lot of it here on my little island, and this is really something I won't ever understand or tolerate. You want that administrative process to be managed? Well then pay me. Incredible!
Are you enjoying your holidays?
Corruption is an issue, see it a lot but rhe big corruption takes place everywhere, big one is called lobbying, just to pit corruption on the low level into perspective a bit.
The small will always suffer, rhe big ones just rename it to their favour š¤£
Holiday is nice,so far.
Full 100% and resteemed :-)
Super, Danke!!! :-) Freu mich!!
Great post @surfermarly! I've been working to get a better handle on influencing my financial future for a while now (as much for my two young kids as anything else) and a lot of what you're giving voice to here is perfectly in line that goal. It does seem crazy to think Bitcoin could reach $500,000 but then again it seems crazy that the stock market could go this high or that the US could get into this much debt or parts of the EU breakup, etc... nothing seems so crazy after it happens. And the more influence we have along the way over our own futures the better. I feel very lucky to be on Steemit at this time to be learning about all of this. Thanks for your helpful thoughts and guidance!
Thanks for sharing your point of view, Doug!
Ha! Nicely said. That is so true.
Just think about the older Science Fiction movies and what they "predicted" for the future. Most of the invention shown there seemed absolutely insane to their audiences. But then two decades later we're holding them in our hands. Technology is faster anything else, and this is just the beginning!
You are right, it feels good and we're lucky :-)
Have a great day!
Thanks @surfermarly! I actually watched Back to The Future yesterday with my kids and in the last scene Doc is powering the Delorian with an eceryday kitchen garbage/fusion reactor he got from "the future" (2015) I wish I had one of those in my kitchen to get rid of garbage and power my apartment!!
When you don't have money you spend your time trying to get it. When you have it you spend your time trying to keep it.
These are wise words! Like them :-) Thank you @bbrewer.
Thanks for your reply. Best wishes in keeping yours. :)
Don't know what the legal standing for property ownership is in your part of the world (Spain?) but here in Australia the land is subject to rights of the Crown. Try not paying your property taxes for a couple of years or be unlucky enough that someone takes a mineral exploration or worse mining lease over Your land. Then if you've granted a Mortage on you title you'd better hope the bank doesn't ask for their money back. I'm in the same boat to and am doing everything I can to get rid of the "Bank". Oh and awesome work on bringing your Dad around to Crypto.
Wow, that's wild!
I've had several problems with banks charging fees for services I didn't aks for and stuff like that, nothing to seriously worry about. However, they have access to our money in a way that shouldn't be allowed to, starting with transfers that are not displayed immediately (giving them time to invest that money in the meantime).
There are infinite reasons to find alternative solutions that give us the opportunity to disengange with these institutions.
Thanks for stopping by and leaving your thoughts, Stephen!
Great post! It's nice to feel like we have a little control over things in our lives. Especially our money!
Thank you. Nicely said, I fully agree :)