The Big Debate: Will (BITCOIN) Replace Our Current FIAT Monetary System?

Here's a coin, there's a coin. Everywhere a coin coin....... 

Bitcoin, Altcoin, Litecoin, Swiftcoin, Peercoin, Mazacoin, Potcoin, Titcoin, Vertcoin, Blackcoin, Primecoin, Emercoin, Dogecoin & even Namecoin.  

   With some 1100+ altcoin on the market as of November 15, 2017. The term cryptocurrency is no longer just a buzz word anymore. These coins, which is funny, cause their not really coins. More so digital currencies have taken the financial world by storm. 

   In the Internet Of Things (IOT), technology has moved forward in such a manner that it is now within humanities grasp. To envision a society where global commerce can truly be expressed independent of centralized banks or third party entities.   

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  What was once barely a blimp on few industries radar just some 5 yrs ago, has now flip the movers & shakers of the world into a frenzy. Many are split on it's significance and future. All the while, stirring up extensive considerations. 

So the debate is up!

   Are these cryptocurrencies here to stay? Are they just disruptive commodities within the financial sector? Is the Bitcoin value in a bubble? Or has society create a multitude of future billionaires & millionaires?

   Some of the world most influential personalities have weighted in on this very topic as well. 

Take for instance, 

  During an interview with CNBC at eMerge Miami, Apple's co-founder Steve Wozniak  “I remember getting interested in bitcoin some time ago," Wozniak said. “It was $70 for a bitcoin, I went online and you had to have a special bank account at a special bank and I couldn't buy any bitcoin so I gave up. Eventually I got some of them at the $700 stage and it went down to $350. I didn't invest, I did it so I could play with bitcoin.”

    

   Or Jamie Dimon, CEO of JP Morgan who provoked an immense firestorm after his statement on Sept. 12th 2017.  Saying that cryptocurrency “is a fraud.” “It's just not a real thing, eventually it will be closed”, at a conference held by CNBC and Institutional Investor.

The Future of Possible

Michael Novogratz - Billionaire investor, former hedge fund manager at Fortress Investment Group. Said Bitcoin is a bubble. But, should own it.  He also predicts by the end of 2018, Bitcoin will be valued at $20,000.

   On June 26, 2014 Actor/Investor Ashton Kutcher tweeted “Bitcoin......sort of like internet in the 80s.”Again around Jan. 28, 2016 during the elections Ashton tweeted to his followers “Why do I get the feeling that the best hedge against a Sanders or Trump nomination may be buying bitcoin?”

Microsoft’s co-founder Bill Gates revealed an interesting take on the cryptocurrency. In 2014, in an interview with Erik Schatzker of Bloomberg's Smart Street TV show. Gates is quoted as saying,

“Bitcoin is exciting because it shows how cheap it can be”  Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”

   Robert Shiller, the Nobel-prize winning Yale economist who predicted the 1999 dotcom & 2006 housing boom. Was asked by Quartz - an online news media what was the best example of a speculative bubble. Shiller replied, “The best example right now is Bitcoin. And I think that has to do with the motivating quality of the Bitcoin story. And I’ve seen it in my students at Yale. You start talking about bitcoin and they’re excited!”

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   Sentiments like these have developed worldwide. First, there is uncertainty due to the fact that this is something new. Change is always apprehensive. When a small group of individuals set out to disrupt the status quo, there will be feathers to ruffle.

What are the disruptive issues that cryptocurrency bring forth?

• Decentralized banking - No third parties involved
• Accountability - Regulations
• Business as usual - Those relying on physical currency for payment....child-care, odd & end (under the table) jobs etc.,

Pros - Massive returns, protection from payment fraud, transactions cannot be reversed, limiting identity theft, industry growth, short-term gains, liquidity, lower fees, instant payment 

Cons - Huge volatility, hacking, dips cause by hard fork, network speed/stalls, infancy - growing pains, anonymous use for illegal activities as in Silk Road, high risk loss, lack of security, lack of regulations, scaling issues. 

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   As mentioned, Bitcoin as well as the Blockchain technology are in it's early development phase. Once the world continues it's integration, as more and more businesses/commerce except this form of payment into society. The evolution of our current fiat system is in fact inevitable. Maybe not so much in the next 3-5 years. Yet, don't be surprised that within 5-10 years a vast percentage of our planet has accepted cryptocurrency.   

Albert Einstein is quoted as saying, “The world as we have created it is a process of our thinking. It cannot be changed without changing our thinking.”




What 's your  opinion? Yay or Nay on digital currency? 

Are you invested? 

Do you plan on investing in cryptocurrency in the future? 



   Whether you are a fan of Bitcoin or maybe not so enthusiastic about these altcoins. The consensus seems to lean toward a continued interest and cultivation in these currencies. A least through the near future. 

Watch out for a Bitcoin Accepted Here sign near you!

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The Wealthy Smell Opportunity - That's Where They Go

Shut up & just do what the wealthy do!

   In an earlier post, Wall street & the stock market  I mentioned that it seems the wealthy just know where the money is.  They smell it and that's where they'll be. I'm sure there's a little more to it than that. Yet, it would be quite impressive if that were true. 

   What they do have, is they share traits that are consistent with each other. They are entrepreneurs, constantly looking for opportunity. They are disciplined, self motivated & go-getters. 

   You don't have to tell them to put an effort into a project. First in - last out! They want shit to get done. Which brings into play an obvious trait.......leadership. In order to have their vision brought to fruition, they must be able to delegate the right team players to produce the required performance.

The Future of Possible

   On the other side of that, are those with the negative notion that the rich just get richer. Which actually is a true statement. But to some, being rich or wealthy has a negative stigma attached to it in their mind. Of course, this clearly would have a profound effect on a persons ability to engineer a profitable wealth building strategy.  

   Without fully understanding their reasons for wealth deficiency, they tend to just has a negative outlook on the rich and affluent. Let's just call it what it is........HATERS!  ok

   To be honest with you, once you're rich, is there any other way to go?  SAVE & INVEST, there's only a certain amount of material things one can buy. (most wealthy citizens, are not generally flashy) Only so many properties you can reside at. How much money can you spend in a day. At which point, logic would entitle one to invest it into something worthwhile and be charitable. 

   If you work arduously to gain wealth and a good life. Would you want to go back to anything less? Of course not! 


  My view point is this, if I knew someone had one million dollars and by the next year they were broke. I'd be a bit upset at them. How could someone blow away a million dollars?  Yes,  I'd be disappointed cause I know I would have done something differently.

   
   How many of us have been at the office or workplace. And been asked, what would you do if you had a million dollars?

   Now, I've been in this scene a few times myself. And 85% of the time, people have had a fairly decent response on their spending habits with that million dollar.

   Paying off  bills, buying a home, giving a little something to their closest relatives are the typical responses.

   However, I love it when I hear the ones that get a bit more defined. Knowing about savings, investing and buying property. 

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   Before we go into the body of this post, which is doing what the wealthy do to remain financially independent. I  also want to take a look at several view points surrounding the pros & cons about wealth! Along with some of the causes why there are people who never obtain prosperity while others do. 
Sometimes over & over again.

When it comes to wealth & riches.........

Let's make one thing perfectly clear that the two are different. Yes, they really are.

Rich - technically is having enough money for a comfortable living today. One can afford the luxury of life NOW!

Wealthy - in it's simplicity, the wealthy are rich for generations. Wealthy beings have not only their children life's financially secured. They have their grandchildren children secured.


  

 The theme itself  (creating wealth or riches) can be a little like politics to some. Sure, most people want to EARN their fair share. Even aim to become a little secure & comfortable with the abundance in life. 

   Some will and have commit unspeakable crimes to control it. And be controlled by it.  Others fear it all together. Being as.......
Money is the root of ALL evil!

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   I personally, struggled for years with my own demons. One of them being that money would change me. Or I would forget where I came from if I was to wealthy. (You would be amazed at how many feel like this). Another was my negative sub-conscious mindset. Mine, the fear that I might not be around tomorrow, so I'll live and spend day by day, pay check to pay check. Many others do just that in their own lives.....sabotage their future with reckless financial thinking.

   Which brings us to the core of this post.....changing the way we think about money. Doing what the wealthy do, point blank!  There's nothing wrong with being wealthy. Nothing at all. That's just it! The only unsound belief in becoming wealthy would be how one gains that wealth status. An honest hard working effort, should NOT demean anyone from enjoying their spoils nor the lifestyle because of your assets! 

   Those of us who have had that negative mentality, have to realize that somewhere somehow, someone or something implanted a virus in our conscious that has conditioned us to that way of thinking. It did not happen over night and will not be cure nor debug/rewire itself over night! 

   You must simply, re-condition your thoughts. You must want to be wealthy. Picture yourself in that nice home, taking great trips. Surrounding yourself with readings, pictures, videos and people who you will interact with on that level. 

   Mapping out a plan, fine tuning those steps every single day. It's one thing to see or dream the end goal yet, entirely another level to get there. 

   Picturing yourself helping others, because giving back is essential to wealth building. But, you must help yourself first in order to be able to help someone else. To empower others you must first empower yourself. 

   Wealthy people believe it or not, generally don't spend crazy money. Just cause they can doesn't mean they do. If you think about it, that would seem to go hand in hand with being wealthy. Mostly, because they invest.

   Control self-gratification. Stop living day-2-day. Learn saving techniques, budgeting habits. 

    Stop putting off tomorrow what can be done today! Just get it done and out the way. And move on to the next step or goal.

   It will take time. There will be many up's & down's, setbacks......disappointments, rejections not to mention failures. All of which are needed so that you will learn what you are really made of. To build up character & strength.

Failure is the must ingredient in a well done success story. 

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   To be honest with you, as I wrote in my success/failure. Failures and setbacks in our lives are simply a test. Do you really want what you are going after? 

   See, winner don't quit right? You are not failing nor undeserving of riches. You must also master the achievement, respect it, along with appreciating the efforts it took to fulfill it.

   Those that receive money fast, most likely will lose it the same way. That scenario has been played out time & time again. Ask any drug dealer, there are plenty of lottery winner that'll tell you the same. Whether they learned the hard way.

If one....lives by the sword - surely they will die by the sword.

   Earn it by honest hard work, play hard honestly. Hard effort includes putting in sacrifices. Giving up the now for the tomorrows. 

   Remember we are changing our thought process, the attitudes & those nasty bad habits.

   Understanding that once those old habit and thought patterns are broken. You can now began to think in earning money passively.  You will still need to put in the work, the 9-5  or even overtime. Because you must now think about having while putting that money to work for you. 

   What is your goal......do you have a meaningful reason behind getting wealthy. 

What is your WHY? 

This must become your passion. 

   Have something that gets a fire lit underneath that ass. Believe me, when you are passionate about something you're going to go for it. You're going to want to get it done. That's when you know your heart is in it for the long haul.  That it's a true destiny and not just a fad nor wish.

   You are going to have to take risk, get use to it. Do the necessary research, footwork and due diligence. Remember, at times actions will not always come out in your favor. You will understand why it didn't later. These are your learning curves. It could be telling you, it's time to do something different or try harder. Time will inform you on which!

Definition of insanity is doing the same thing over & over again then expecting a different result.  

That above statement was put there for a reason. Read, learn & carry it within you. 

        It does mean something!

  Passive income simply means you are making money without you directly participating in the venture. A savings account is a passive income. It is sitting in a bank making you more money without you doing anything more than the initial work.

   Writing a book, producing a song or music album, making a movie. Opening up some franchised stores ALL are passive income. What do they ALL have in common?

Doing something once, get paid over & over again for the effort.

   Owning rentals, investments  & real estate are also passive income. And here we are. The point in which this post supplements.

Warren Buffet says it clearly, "Don't depend on a single source for income (to build wealth). Make investments that create multiple sources."

Invest, investing & investments 

Yes, another  attribute the wealthy & rich ALL have in common? They invest!

   They take their money, buy into an investment and hold onto it for a long long time. Over time as the markets whether it be stocks & bonds gradually climb. So does their value as well as their profits. It sounds simple and it is yet. The hard part is your initial monetary investments. You first must come up with the investment dollars, then learn how to pick great stocks and study how the market system works.

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   As we continue further along these postings, we will dissect the many path that will strengthen our knowledge base. It will seem daunting, confusing even tedious. One lesson we surely will gain........patience. Patience will win the game. Building you a secure financial network must include it.

  So you might be thinking, yeah not for me. Maybe YOU are one of those that have that bad habit, falling into your old caution or fearful of failure ways. 
   That is why I put those words at the top of the page.........

SHUT UP........JUST DO WHAT THEY DO! 

Then get WEALTHY

  

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Success or failure - It Is About Perspective

   
   Why is it that some people soar upon success effortlessly? Moving from one successful venture or task into the next. While others bust blood, sweat and tears, only to remain exactly where they were as the week & year before. 
  
   Are some people just chosen for greatness and others cursed? Does the blood of kings & queens flow down through generations? And the DNA of worker bees or slaves embedded in the blood that run through the veins of others?

Can one break the cycle of despair and rise up? 

   There have been books, seminars, videos and even hypnosis on self worth. Positive reinforcement tactics, self awareness, inspirational posters & motivating social media posting all encourage us to succeed. Never quit mentality. Driven by commercials, movies & sports figures and yet for some......success seems to elude them perpetually. 

Why?

   While I can't qualify as an professional adviser, I can however, piece together a half century of life experience including my own personal triumphs & tribulations. To provide a point of view analysis.


What is Success?

    - dictionary version is, the accomplishment of an aim or purpose.   
   -  a person or thing that achieves desired aim or attains prosperity.

What is Failure?

   - dictionary version is, the lack of success. The omission of expected or required action.

We should start with success and failure perceptions.

   I'm not going to get all preachy on you. But I do sometimes like to go to a great source of sorts. My road map for guidance from time to time. Bear with me here.

   I believe God aka GOOD looks at what is perceived to be success differently than people do.
 (1 Samuel 16:7)

   God looks at success in a manner where it's a  win- win situation for everyone. Not a I win - you lose or you win - I lose kind of scenario. Whether everyone came out a winner is what the success is.


Which brings us to this......

   Why has our society been built upon this concept. Where someone HAS to win therefore someone WILL lose???
Have we actually set ourselves up for a slow society deterioration.  When we are ALL humans with faults & benefits, gifts & defects.

   What happens when all the winners win, all the successor succeed. If all the failure fall.....is that went we start changing the rules so that more failure come out of the winning pool? 

   When all the perfect people are perfect, do we change the rules so that now imperfect can be found within the perfect pool.
   
   So do you see...... who makes the rules to conclude that one over another is a failure? 

.......that's where the real dialogue needs to be understood.

It shouldn't be anyone judging you outside of you!

   If your failure was in the process of achieving a personal goal. Especially something that you are passionate about....who should care if things don't go quite right or if it flopped belly up. Is it REALLY a failure? 


   It's not really failure. It's a step in the growing process. Failures ask the question, are you passionate enough to continue, to grow. Failures ask, what have you learned. Failure are our teachers, our motivators and should inspire.

   Any task where you know you gave it 100%, well that's success not a failure!  


   Yes, you are responsible for your own life. No one is greater than any other. Especially when it comes to material things, physical being or life's situations. 

   One can be a success to one group yet a failure in other.  So who is judging your success or failure.......you, a hater, jealous co-worker? WHO's to judge you?

   That ole saying, do something you really love and it's not really work!  Right?

   That works fine of course in terms of success or failure when pursuing a personal goal. What about when it's apart of everyday life?

   What if the failure is brought on by life's environment, society or just human interference. The likes of prejudice, dis-respectfulness or bullying. Some experiences are completely out of our control.
In the sense, we still have to go back to who is the true failure. 

   If a person is teased because of their physical being, say their weight, to short or to tall, doesn't speak like the others. Who is the true failure here. Certainly not the person with the physical differences. Differences is actually grand. Who wants to wake-up to a world where everyone looks & thinks like one another?  Boring.....
  
   The failure is the loser who would degrade another human being who has no control over their attributes. Because in reality....they, the bullies can change the way they look at life, people & situations. Thereby reacting differently. One only has to look at the situation as an empowerment.  From anothers negative ignorance, their weakness, their failure is really ones own strength. Ones own success. 

   Just like an incomplete goal. One finds out what not to do the next time. Here you learn who are not your friends. And one learns to move on and hang out with better 
people.

That's success.             

Life, oh what a life we live in. 

   What I'm simply saying is. We are our own success story. Most times it's only an incompletion not a failure.

No-one but no-one except you writes your story.




Excerpts from Got Questions Ministries -  

"How does the Bible define success?"


    He also abundantly provides good physical gifts to His children (food, clothing, houses, etc.), and He loves to do it (Matthew 6:25-33). Yet, most of us, at one time or another, focus on the gifts rather than on the Giver. 

   Because we are focusing on the wrong things. That may be why the Lord sometimes limits His gift-giving to us—so we do not stumble over the gifts and fall away from Him. 


   Picture two hands. In the right hand there are the offer of true contentment, the ability to handle life’s problems without being overcome by them, amazing peace that sees us through all circumstances, wisdom to know what to do, knowledge and constant direction for life, love for others, acceptance of ourselves, joy no matter what, and at the end of life, an eternity with the God who freely gives all these gifts. The other hand holds all the money and power and success the world has to offer, without any of what the right hand holds. Which would you choose? 
 “Where your treasure is, there also is your heart” (Matt. 6:21). 

There is NO real success nor failure you only LIVE & LEARN

It's about your perspective.

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Fantastic Frenzy Fills the Financial World - A Day in the Financial Sector

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   When we woke up this morning, and your alerts are going crazy.......

   Bitcoin tops $7289. Held it's ground for a bit then dip back below $7K. And like a stubborn mule it regained it's ground to settle above $7K. 

   Say what you want, I know there are skeptics who under estimate this technology & it's eventual value behind Bitcoin and other cryptocurrencies. Yet, it seems even Amazon has taken to the bug. They have recently acquired 3 domain names to utilize what maybe the set-up for future crypto payment acceptance.

   With Amazon downplaying the purchases to a mear trade name protection move. Those names include amazoncryptocurrency.com, amazoncryptocurrencies.com & amazoncryptoethereum.com. 

   A few years back Amazon secured amazonbitcoin.com which seems to play into that speculation. 

   Amazon insist that there isn't enough demand for the digital coin to began accepting Bitcoin or any other cryptocoins as a payment outlet.

   This I believe, will be the biggest understatement for many in the near future. There will be a point of trust in the technology, where bitcoin and it's siblings will integrate seamlessly due to demand.

  Adding to the financial whirl wind today, President Trump has disclose the administration's Tax reform plan. As it would has been expected. Plenty of fanfare on both sides. I'm so amazed how we have a government that is elected by & for the people yet allows for complete differential in accomplishing little for ALL the people. But, maybe that's just me.

   This 429 page Tax Cut & Jobs Acts reform bill entails proposals that are to enhance corporate & the middle class tax burdens. Trump is expecting a passing of the bill before Thanksgiving. 

A snippet of the bill:                                   

• Increased Child Tax Credit
• Corporate Tax at 35% would be cut to 20%   
• A company can now deduct investment within same year
• Larger standard deductions
• A reduced Home mortgage  interest deduction
• Eliminating the Estate Tax after doubling it 
• Eliminating Personal Itemized & Credit deductions 
• Eliminating Medical Expense deductions
• Eliminating Alimony Payment deductions
• Eliminating Student loan interest deduction
• Changes in State & Local Tax (S.A.L.T.) deductions
• Tax on Imports from U.S. companies
• No changes in 401K Retirement 

   Here are just a few of the proposals on the table. As in most any reform procedures there's going to be up's & down's. It would seem that the up's and who benefits are corporations in the higher tax brackets, heirs to estates (over time), low & high income households. 

   Plus, it would seem that doing our own taxes is in our future, as they will be that simplified as to do so.

   The big loser in all this comes out to be the U.S. national debt to the tune of $1.7 trillion. 


   Let the Games begin!

   
   Here's a little something on the lighter side of today's financial frenzy.  President Trump's newly picked Federal reserve chair-person Jerome "Jay" H. Powell seems like he might go through confirmation without to much distraction. 

   Seeing as he pretty much follows or rather voted along the same lines as the current chairperson Janet L. Yellen. "Jay" as Trump affectionately pinned him in this mornings press conference has been on the Fed's board since 2012. Which would lead one to believe he understand the inner workings of the financial institutions. While others feel he is more in tune to Trumps's wealth building mentality.       In Trump's own words........



Trump says,

"Today is an important milestone on the path to restoring economic opportunity to the American people" 
  

   Only time will tell.  

   I say, looking at the way Wall street has been reacting since Trump's election, The wealthy will continue to become wealthier. 
They smell where the money is and go. If getting paid in the future is on your to do list. Simply........do what they do!

   Touching more on the subject of picking the best stock for your portfolio, that I started in yesterday's post. Don't forget to look within your own circle. 

   They say, word of mouth is your best review. What about the products you use everyday. Cars was my example yesterday, but yes, things like the company that built the microwave oven you use. Or your favorite television, smartphone, computer. Believe it or not, your kids & grand-kids are a great source on whats the next new thing. What do you see other people using or talking about?

Your next best pick can in the palm of your hands, be staring right at you, speaking to you everyday.......

APPLE Inc. (APPL, +0.73%) 
Hits it's ALL-TIME high today.

Remember, INVESTing in the stock market and you own a piece of that company!

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