Tag: #Belief

Starting a Bitcoin Mining Business โ€“ A Complete Guide

Why Start a Bitcoin Mining Business?

If you love working from home, then you should consider starting an internet based business.

One of the businesses that you can easily start at home with a computer and mining rigs is bitcoin mining.

Simply put, bitcoin is a digital currency that operates independently of any countryโ€™s central bank. In order to get an updated value of the worth of a bitcoin, you can make use of Googleโ€™s currency converter; it is a reliable platform to know the value of bitcoin each time.

If you are interested in mining bitcoin, then you have two options to follow.

You can choose to mine a block of bitcoins from the computer or you can choose to pool.

If you want quick returns on your investment, then joining a pool is your best option because mining a block of bitcoins from your computer may take you a month or more before you get any return on your investment.

Please note that if you join a pool, you will only get smaller payments, but you can be rest assured that you will get them at a regular basis.

Starting a bitcoin mining business can be rewarding but you would have to compete with other well established bitcoin miners on the World Wide Web. The fact that you will be competing with people from all over the globe is enough reason for you to be result oriented and at the same be creative with your bitcoin mining business.

So, if you have done the required online or offline bitcoin mining related courses, then you might want to venture into this business.

Starting a Bitcoin Mining Business โ€“ A Complete Guide

Industry Overview

Bitcoin mining in its simplest term is the practice of adding transaction records to Bitcoinโ€™s public ledger of previous transactions or block chain.

This ledger of previous transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

As a matter of fact, Bitcoin miners help keep the Bitcoin network secure by approving transactions.

Mining is indeed an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and highly secured.

Bitcoin mining as the name implies is similar to the mining of other commodities: it requires deliberate and calculated effort and it slowly makes new currency available at a rate that looks like the rate at which commodities like gold and copper et al are mined from the ground. Mining is also a mechanism used to introduce Bitcoins into the system.

Bitcoin is a type of digital currency that is created and held electronically; it is a cryptocurrency and a digital payment system that is invented by an unknown programmer, or perhaps a group of programmers. No one controls it.

Unlike Dollars, Euros, Pounds and other currencies, bitcoins are not printed, they are produced by people and businesses running computers all around the world, using software that solves mathematical problems.

If you want to start mining bitcoin, you would need an online wallet where your bitcoins will be stored.

There are several wallet options available online for bitcoin mining. The rule of thumb to follow before choosing an online wallet for your bitcoin mining is to choose a wallet that will allow you save bitcoins, buy bitcoins, use bitcoins and also accept bitcoins as a means of payment.

The Bitcoin (cryptocurrency and a digital payment system) industry is indeed a large internet based industry and pretty much active in countries such as United States of America, United Kingdom, France, Italy, Nigeria, Sweden, Australia, Japan, China, Germany, and Canada et al.

Despite the fact that the bitcoin mining business is still much of a green business, the business will continue to blossom because more and more users will embrace the use of bitcoins in the nearest future.

So, if you have an entrepreneurial mentality and you wish to join a massive technological revolution, you can start your own bitcoin mining business.

The truth is that you can build a bitcoin mining business even if you are not too ICT savvy and have limited capital to invest in software development and infrastructure, as long as you have internet access and you know how to use the internet.

Some of the factors that encourage entrepreneurs to start their own bitcoin mining business could be that the business is easy to set up and the startup capital is indeed affordable; you can actually start your own bitcoin mining business from the comfort of your house.

All you need to do is to create an office somewhere in your house. You donโ€™t necessarily need to see the people you are doing business with since you can transact bitcoin mining business with clients from any part of the world.

Lastly, starting a bitcoin mining business requires professionalism, advanced mathematics skills and a good grasp of how cryptocurrency and the digital payment system works on a global platform.

Besides, you would need to get the required certifications and license and also meet the required standard for such business before you can be allowed to start a bitcoin mining business in the United States.

Starting a Bitcoin Mining Business โ€“ Market Research and Feasibility Studies

Demographics and Psychographics

The demographic and psychographic composition of those who require the services of bitcoin miners are not restricted to bitcoin exchange and trading companies and bitcoin traders, people and organizations that make online transactions in your immediate community or state, but it cuts across people on the cyber space who make use of bitcoins from all over the world.

This is so because bitcoin is a cryptocurrency and a digital payment system used basically on the internet hence the leverage to work for people and organization all across the globe.

So, if you are looking towards defining the demographics of your bitcoin mining business, you should make it all encompassing. It should include bitcoin exchange and trading companies and bitcoin traders, programmers, investors, and internet โ€“ business oriented people and organizations within and outside the United States.

List of Niche ideas Within the Bitcoin Mining Business That You Can Specialize in

Most bitcoin mining companies tend to operate the general bitcoin mining business that a standard bitcoin mining poll/company is expected to offer, that is why it seems like there are no niche areas in the industry.

But on the other hand, some bitcoin mining company may decide to major in some key areas such as:

  • Bitcoin cloud mining
  • Bitcoin cloud hashing
  • Providing other related bitcoin, cryptocurrency and digital payment system consulting and advisory services

The Level of Competition in the Bitcoin Mining Services Industry

The level of competition in the cryptocurrency and a digital payment system industry does not in any way depend on the location of the business since most people that mine bitcoin can operate from any part of the world and still effectively compete in the bitcoin mining line of business cum cryptocurrency and a digital payment system industry.

When it comes to bitcoin mining, distance is never a barrier when competing for clients especially international clients.

What most clients want is result, hence they are ready to make use of bitcoin miners or bitcoin mining platforms no matter the part of the world they operate from as long as they have good track record and can deliver excellent results when it comes to mining and selling bitcoins to them.

There are several bitcoin miners and bitcoin mining pools scattered all around the United States and in the cyber space.

So, if you choose to start your own bitcoin mining company in the United States, you will definitely meet stiffer competitions not only amongst bitcoin mining companies in the United States, but also all over the globe especially if you choose to specialize in cryptocurrency and digital payment system.

List of Well โ€“ Known Brands in the Bitcoin Mining Business

In every industry, there are always brands that perform better or are better regarded by customers and the general public than others. Some of these brands are those that have been in the industry for a long time, while others are best known for the results they deliver.

These are some of the leading bitcoin mining companies (bitcoin mining pools) in the United States of America and also in the globe:

Economic Analysis

As an ICT aspiring entrepreneur who is looking for a business that requires programming and mathematics skills and perhaps minimal startup capital to start, then you can consider starting a bitcoin mining pool.

The cost of running a standard bitcoin mining pool when compared to the turnover you get can be poles apart (this is applicable when you have been able to establish your feet in the industry).

One thing is certain when it comes to the bitcoin mining business and most internet based businesses, you are sure of making profits when you successfully produce results that are measurable.

As a matter of fact, the cost of running the business from start to finish could be restricted to the cost of making phone calls, transportation and internet subscriptions, PR and of course bitcoin mining and hashing hardware and software et al.

Starting Your Bitcoin Mining Company from Scratch vs Buying a Franchise

When it comes to starting a business of this nature, it will pay you to start from the scratch as against buying a franchise.

First and foremost, it is your ability to mine or hash bitcoin that matters not a brand name.

Except you want to join a well-established bitcoin mining pool that fits into your business ideology.

Unfortunately, you can hardly find a franchise of a bitcoin mining pool โ€“ company to purchase meaning that if you want to own a bitcoin mining (pool) business, then you must be ready to start from the scratch.

This is so because the business is easy to start if you have the required expertise and it is still pretty much thriving and there are loads of opportunities available to aspiring entrepreneurs that are interested in the industry.

The truth is that it will pay you to start your bitcoin mining company from the scratch. Starting from the scratch will afford you the opportunity to conduct thorough market survey and feasibility studies before choosing a location to launch the business.

Please note that most of the big and successful bitcoin mining companies around started from the scratch and they were able to build a solid business brand.

Possible Threats and Challenges You Will Face When Starting a Bitcoin Mining Business

If you decide to start your own bitcoin mining business today, one of the major challenges you are likely going to face is the presence of well โ€“ established bitcoin mining companies who are offering same services that you intend offering. The only way to avoid this challenge is to create your own market.

Some other threats that you are likely going to face as a bitcoin mining company operating in the United States are hosting issues, installation or upkeep troubles, heat, unfavorable government policies, and global economic downturn which usually affects purchasing/spending power. There is hardly anything you can do as regards these threats other than to be optimistic that things will continue to work for your good.

Starting a Bitcoin Mining Business โ€“ Legal Matters

Best legal entity to use for this type of business

Generally, you have the options of either choosing a general partnership, limited liability company which is commonly called an LLC, or a sole proprietorship for a business such as a bitcoin mining company.

Ordinarily, general partnership should have been the ideal business structure for a small โ€“ scale bitcoin mining business especially if you are just starting out with moderate startup capital.

But people prefer limited liability Company for obvious reasons. As a matter of fact, if your intention is to grow the business and have clients both corporate and individual from all across the United States of America and other countries of the world, then choosing general partnership is not an option for you. Limited Liability Company, LLC will be highly suitable for you.

Setting up an LLC protects you from personal liability. If anything goes wrong in the business, it is only the money that you invested into the limited liability company that will be at risk. It is not so for sole proprietorships and general partnerships. Limited liability companies are simpler and more flexible to operate and you donโ€™t need a board of directors, shareholders meetings and other managerial formalities.

These are some of the factors you should consider before choosing a legal entity for your bitcoin mining (pool) business; limitation of personal liability, ease of transferability, admission of new owners, investorsโ€™ expectation and of course taxes.

If you take your time to critically study the various legal entities to use for your bitcoin mining business, you will agree that limited liability company; an LLC is most suitable. You can start this type of business as limited liability company (LLC) and in future convert it to a โ€˜Cโ€™ corporation or an โ€˜Sโ€™ corporation especially when you have the plans of going public.

Catchy Business Name ideas Suitable for a Bitcoin Mining Company

Generally, when it comes to choosing a name for a business, it is expected that you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. Usually it is the norm for people to follow the trend in the industry they intend operating from when naming their business.

Insurance Policies

In the United States and in most countries of the world, you canโ€™t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. So, it is imperative to create a budget for insurance policy covers and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your bitcoin mining business.

Here are some of the basic insurance policy covers that you should consider purchasing if you want to start your own bitcoin mining business in the United States of America:

  • General insurance
  • Health insurance
  • Liability insurance
  • Workers compensation
  • Overhead expense disability insurance
  • Business ownerโ€™s policy group insurance
  • Payment protection insurance
  • Intellectual Property Protection/Trademark

If you are considering starting your own bitcoin mining business, usually you may not have any need to file for intellectual property protection/trademark. This is so because the nature of the business makes it possible for you to successfully run the business without having any cause to challenge anybody in court for illegally making use of your companyโ€™s intellectual properties.

Is Professional Certification Needed to Run a Bitcoin Mining Business?

Apart from the results you produce, professional certification is one of the main reasons why most bitcoin mining companies stand out.

If you want to make an impact in the Bitcoin industry, you should work towards acquiring all the needed certifications in your area of specialization.

Certification validates your competency and shows that you are highly skilled, committed to your career, and up-to-date in this competitive market.

These are some of the certifications you can work towards achieving if you want to run your own bitcoin mining company:

  • Certified Bitcoin Professional (CBP) | Crypto Currency Certification
  • Blockcerts Certification
  • Cryptocurrency certification
  • Ethereum certification
  • Blockchain professional certification

List of Legal Documents You Need to Run a Bitcoin Mining Company

These are some of the basic legal documents that you are expected to have in place if you want to legally run your own bitcoin mining business in the United States of America:

  • Certificate of Incorporation
  • Business License and Certification
  • Business Plan
  • Non โ€“ disclosure Agreement
  • Employment Agreement (offer letters)
  • Operating Agreement for LLCs
  • Insurance Policy
  • Contract documents
  • Online Privacy Policy Document (basically   for online payment portal)
  • Company Bylaws
  • Memorandum of Understanding (MoU)
  • Apostille (for those who intend operating beyond the United States of America) 

Financing Your Bitcoin Mining Company

Aside from the amount required to purchase bitcoin mining software and hardware, bitcoins and of course cryptocurrency and other forms of digital payment required to trade with, starting a bitcoin mining business can be cost effective especially if you choose to run the business from your home, share office space with a friend or make use of a virtual office.

Securing a standard office is part of what will consume a large chunk of your startup capital, but if you choose to start the business on a small scale, you may not have the need to go source for fund to finance the business.

When it comes to financing a business, one of the major factors that you should consider is to write a good business plan.

If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business.

Here are some of the options you can explore when sourcing for start โ€“ up capital for your bitcoin mining/trading business:

  • Raising money from personal savings and sale of personal stocks and properties
  • Sell of shares to interested investors
  • Pitching your business idea and applying for business grants and seed funding from donor organizations and angel investors
  • Source for soft loans from your family members and your friends

Choosing a Suitable Location for your Bitcoin Mining Business

Bitcoin mining business and most internet service based type of businesses do not require that you see physically with your clients, hence the location you chose does not necessarily need to be top-notch.

But the fact that you can operate your bitcoin mining business from your home does not mean that location has little influence on the success of a bitcoin mining company.

If you have taken your time to study the bitcoin mining and other internet based businesses, you will realize that they are willing to pay expensive rents in order to stay in an ICT hub; a place with pretty strong internet network and of course a place where ICT activities are at its peak.

It is important to note that a business facility in a good location does not come cheap hence you should be able to allocate enough fund for leasing/renting in your budget.

If you are new to the dynamics of choosing a location for a business such as bitcoin mining business, then you should feel free to talk to a business consultant or a realtor who has a full grasp of the city and perhaps country you intend starting your company.

So, if you are looking for a location for your bitcoin mining company, ensure that it is a place that is located in an ICT hub; a place with pretty strong internet network and of course a place where ICT activities are at its peak.

Of course, you would not want to locate this type of business in the outskirts of town or a place without strong internet network. Your clients should be able to drive down and locate your office with little or no difficulty.

Starting a Bitcoin Mining Business โ€“ Technical and Manpower Details

In order to successfully launch a bitcoin mining business, you will definitely need bitcoin mining software apps and hardware such as Application-specific integrated circuit (ASIC) machines and other cryptocurrency and digital payment system related software apps and wallet.

So also, you will need computers, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves).

When it comes to choosing between renting and leasing an office space, the size of the bitcoin mining company you want to build, and your entire budget for the business should influence your choice.

If you have enough capital to run a standard bitcoin mining company, then you should consider the option of leasing a facility for your office.

As regards the number of employees that you are expected to kick start the business with, you would need to consider your finance before making the decision.

Averagely, you would need a Chief Executive Officer or President (you can occupy this role), an Admin and Human Resource Manager, Bitcoin Miners and Hashers, Programmers and Software Developers, Business Development Executive/marketing Executive, Customer Service Officer or Front Desk Officer, and Accountant.

Over and above, you would need a minimum of 8 key staff to effectively run a medium scale but standard bitcoin mining company.

Please note that there will be times when you are expected to go out of your way to hire experts to help you handle some high โ€“ profile internet based currency consultancy contracts especially from big corporations.

If you are just starting out, you may not have the financial capacity or required business structure to retain all the professionals that are expected to work with you which is why you should make plans to partner with other programmers and software app developers and computer engineers that operates as freelancers.

The Service Delivery Process of a Bitcoin Mining Company

It is the tradition in the cryptocurrency industry for bitcoin miners to help keep the Bitcoin network secure by approving transactions.

The truth is that mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.

In the cryptocurrency and other forms of digital payment system industry, bitcoin miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart process of issuing the currency and also creates an incentive for more people to mine.

For instance, when a block is discovered, the miners are rewarded a certain number of bitcoins, which is agreed-upon by everyone in the network.

Currently the reward is 6.25 bitcoins and this value will halve every 210,000 blocks.

Additionally, the bitcoin miner is awarded the fees paid by users sending transactions. The fee is an incentive for the bitcoin miner to include the transaction in their block.

It is important to state that a bitcoin mining (pool) company may decide to improvise or adopt any business process and structure that will guarantee them efficiency and flexibility; the above stated business cum services process is not cast on stone.

Starting a Bitcoin Mining Business – The Marketing Plan

Marketing ideas and strategies

As a bitcoin mining company, you would have to prove your worth over and over again before you can be awarded any bitcoin mining and hashing contracts from corporate clients.

So, if you have plans to start your own bitcoin mining company, it will pay you to first build a successful career in the digital payment system industry.

People and organizations will hire your services to help them handle all their bitcoin mining and hashing needs if they know that they are going to get good returns on their investment.

So, when you are drafting your marketing plans and strategies for your bitcoin mining company, make sure that you create a compelling personal and company profile.

Aside from your qualifications and experience, it is important to clearly state in practical terms what you have been able to achieve in time past as it relates to the cryptocurrency industry and the organizations you have worked for in time past.

This will help boost your chances in the market place when sourcing for bitcoin mining and hashing contracts.

Businesses these days are aware of the power of the internet and which is why they will do all they can to maximize the internet to market their services.

In other words, a larger percentage of your marketing efforts should be directed to internet users.

Here are some of the platforms you can utilize to market your bitcoin mining company:

  • Introduce your business by sending introductory letters alongside your brochure to all the bitcoin exchange and trading companies and bitcoin traders, programmers, investors, and internet โ€“ business oriented people and organizations within and outside the United States
  • Promptness in bidding for bitcoin mining and hashing contracts from bitcoin exchange and trading companies cum bitcoin traders, programmers, investors, and internet โ€“ business oriented people and organizations within and outside the United States
  • Advertise your business in relevant programming magazines, radio and TV stations (make yourself available for bitcoin mining and cryptocurrency related talk shows and interactive sessions on TV and Radio)
  • List your business on local directories
  • Attend international bitcoin mining and cryptocurrency related seminars and business fairs
  • Create different packages for different category of clients in order to work with their budgets
  • Join related associations around you with the main aim of networking and marketing your services; you are likely going to get referrals from such networks
  • Engage the services of online marketing executives and business developers to carry out direct marketing

Factors That Will Help You Get the Right Product Pricing

Some of the key factors that will help you mine or hash bitcoin in a profitable pricing system is to ensure that you work with highly talented programmers and mathematicians in your bitcoin mining pool.

You should also ensure that you get your bitcoin mining software and hardware at good deal not forgetting to run your maintenance as at when due.

Another strategy that will help you offer your bitcoin mining and hashing services at the right price is to ensure that you cut operational and maintenance cost to the barest minimum, and channel your efforts towards marketing and promoting your brand name.

Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your products.

Strategies to Boost Your Bitcoin Mining Brand Awareness and Create Your Corporate Identity

If your intention of starting a bitcoin mining company is to grow the business beyond the city where you are going to be operating from to become a national and international brand, then you must be ready to spend money on promotion and advertisement of your brand.

In promoting your brand and corporate identity, you should leverage on both print and electronic media and also social media (the internet).

As a matter of fact, it is cost effective to use the internet and social media platforms to promote your brands, besides it is pretty much effective and wide reaching.

Another strategy is to sponsor relevant programmer/ICT based programs, TV and radio programs, advertise your business in relevant magazines and newspapers. Below are the platforms you can leverage on to boost your brand and to promote and advertise your business.

Place adverts on ICT magazines and related newspapers, radio and TV stations

Encourage the use of word of mouth publicity from your loyal customers

Leverage on the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote your business

Ensure that you position your banners and billboards in strategic positions all around your city

Distribute your fliers and handbills in target areas in and around our neighborhood

Contact bitcoin exchange and trading companies cum bitcoin traders, programmers, investors, and internet โ€“ business oriented people and organization within and outside the United States by calling them up and informing them of your organization and the bitcoin mining and hashing services you offer

Advertise your business in your official website and employ strategies that will help you pull traffic to the site

Brand all your official cars and ensure that all your staff members wear your branded shirt or cap at regular intervals.

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Bitcoin and it’s History

Finance, like most human inventions, is constantly evolving.

In the beginning it was basic: food was traded for livestock, and livestock for resources like wood, or maize. It progressed to precious metal, such as silver and gold. And now, the next step in financial evolution has come to light.

This new form of currency has been constantly evolving over the past decade, developed by an unknown person and maintained by a collective group of the brightest minds in technology.

Itโ€™s a new form of money that is created and held digitally, and the most important part, of course, is that no government owns it, or decides its value – the peer-to-peer network community does.

We call this new money, โ€˜Bitcoinโ€™.

Historically, U.S. currency has been based on gold – you could give a dollar to the bank and receive a set amount back in gold. In contrast, Bitcoin isnโ€™t based on silver or gold – itโ€™s based on mathematical proofs validated by a public ledger called blockchain technology.

Bitcoin is generated through a complex sequence of mathematical formulas that run on computers; the network shares a public ledger using blockchain technologies that record, and validate, every transaction processed.

A single institution, such as the government, does not control the Bitcoin network.

The idea behind the technology has always been – and remains – one of decentralization – that is, remaining completely independent of a central authority, like a bank, a government, or a country.

Anyone can access the open-source software that makes Bitcoin work, and its those individuals interested that maintain it.

But, who invented Bitcoin? Is it a valid and legitimate currency like USD? And why did nobody think of this before?

But before we begin, letโ€™s talk about the creator of Bitcoin – or rather, the anonymous pseudonym that first published a concept.

How Did Bitcoin Start?

There are many questions about Bitcoin, but the most common one to be asked is, โ€œWho created it?โ€

That answer is not straightforward, because the identity of the creator remains a mystery. All we have is a pseudonym – Satoshi Nakamoto.

The accounts are no longer active; the coins in his wallet have never been spent.

Satoshi Nakamoto has disappeared from the world, or so it would seem.

Fast Company recently published an article suggesting that Satoshi Nakamoto could be a group of people, including Neal King, Vladimir Oksman, and Charles Bry. Apparently, these three people filed for a patent related to secure communication just two months prior to the purchase of the Bitcoin.org domain. Perhaps itโ€™s a coincidence; perhaps itโ€™s not.

What we do have, however, are facts:

  • On October 31st, 2008, โ€œBitcoin: A Peer-to-Peer Electronic Cash Systemโ€ was posted to a cryptography mailing list, published under the name โ€œSatoshi Nakamotoโ€. The whitepaper outlined the foundation of how Bitcoin would operate.
  • On August 18, 2008, an unknown person or entity registered the Bitcoin.org domain.
  • On January 8th, 2009, the first version of Bitcoin is announced, and shortly thereafter, Bitcoin mining begins.

The mystery that surrounds Satoshi Nakamoto is fitting; privacy was a key value for both Bitcoin, and its users.

Others have tried to claim his mantle – most recently an Australian man named Craig Wright, who has since withdrawn his claim.

While we may never know who first created Bitcoin, we do know that the technology he started has left ripples in the financial industry.

Bitcoin has risen to fame thanks to individuals such as the Winklevoss twins controlling and growing the market, and major events that have defined this new technologyโ€™s existence such as the Mt. Gox Ponzi scheme disaster.

The people involved and the events that occur are a constant reminder that this market is unregulated and seem to fall in line with Satoshi Nakamotoโ€™s goal of creating a decentralized network.

What is Bitcoin Used For?

Currency must have value to ensure stability.

The most common way for a person to judge a currencyโ€™s value is what they can use it on; Bitcoin is no different, and a host of vendors and merchants now accept it alongside, or in place of, fiat money.

One early adopter of Bitcoin was the computer retailer Dell. In fact, when Dell started accepting Bitcoin, it became one of the largest companies to do so internationally.

While the digital currency may total for just a fraction of the retailerโ€™s total transaction volume, there are other key reasons why the growth of Bitcoin could be aboon for the retailer.

Dell reported earnings of $59 billion during 2015. Traditional transaction fees range from 2 to 3 percent of the purchase price – with Bitcoin, itโ€™s much, much lower, nearing non-existent – saving the retailer a lot of money in the future.

Other companies, such as Expedia and Cheapair, have also started accepting Bitcoin, along with technology conglomerate Microsoft : users can add funds to their accounts with Bitcoin to purchase apps, games, and other types of digital content.

The acceptance of Bitcoin is a strategic decision on the part of these companies, most of which are reaching out to solidify their position with tech-savvy audiences.

Thereโ€™s a lot of benefit to Bitcoin, and a variety of reasons for its use, including :

  • Faster Payment: Accepting wire transfers and checks is time consuming, and it can take several days for payment to clear. Bitcoin is faster and can take a matter of minutes, rather than days to process payment.
  • Lower Transaction Fees: The cost to accept Bitcoins is lower compared to other payment methods, such as credit cards or Paypal.
  • Independent of Governments: Since Bitcoin is decentralized, you own it – no authority has the right to take away your Bitcoin. People with concerns about mainstream banking systems unravelling find this a major benefit.
  • Elimination of Chargebacks: Once Bitcoin is sent, thatโ€™s it – you canโ€™t chargeback, like you would with a credit card payment, which eliminates โ€˜chargeback fraudโ€™ often used by criminals and scammers.
  • Protection Against Inflation: With a fiat currency, the government can print as much money as it desires – this drastically decreases the value of currency, and may result in inflation. In contrast, Bitcoin has a fixed number – after they have all been โ€˜minedโ€™, no more Bitcoins will be created. Scarcity is an important aspect of currency which protects it from inflation.
  • Ownership of Currency: With Bitcoin, you own your coins. With other forms of digital fiat – such as Paypal – your assets may be held, and your account eventually suspending, locking you out of your earnings. Bitcoin puts you in control.

Is Bitcoin a Commodity, or a Currency?

Bitcoin is both. While it can be used to purchase items from major retailers, itโ€™s also treated as property by government jurisdictions, such as the IRS.

The IRS issued a guide on Bitcoin for tax purposes, stating it will treat virtual currencies as property for federal purposes. They go on to state that:

In some environments, virtual currency operates like โ€œrealโ€ currency โ€” i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance โ€” but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.

Typically, property is almost always something tangible that can be held in the physical realm.

The IRS goes on to state that:

General tax principles that apply to property transactions apply to transactions using virtual currency. Among other things, this means that:

  • Wages paid to employees using virtual currency are taxable to the employee, must be reported by an employer on a Form W-2, and are subject to federal income tax withholding and payroll taxes.
  • Payments using virtual currency made to independent contractors and other service providers are taxable and self-employment tax rules generally apply. Normally, payers must issue Form 1099.
  • The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.
  • A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property.

In addition to the IRSโ€™s guidance, the United States Commodities Futures Trading Commission in 2015 that Bitcoin is, in fact, a commodity.

The Future of Currency

Bitcoin has garnered a lot of attention over the past decade, despite constant declarations of its death – 99 Bitcoins keeps a running tab of โ€˜Bitcoin obituariesโ€™.

Despite all of this, Bitcoinโ€™s future has remained bright. Greater adoption rates, and an increasing number of brands accepting the currency (you can get a full list qui) means the long-term view on Bitcoin is that it will see market maturity as time progresses.

Mainstream investing vehicles, such as exchange-traded funds (ETFs) and Futures trading, including Bitcoin will be a major help to reaching that market maturity. Bitcoin Futures are already trading on the Chicago Mercantile Exchange (CME), and legislation to create a crypto ETF is in the works.

These securities will help stabilize cryptocurrency prices and mitigate volatility, which will help the publicโ€™s confidence grow in favor of Bitcoin.

Itโ€™s important to understand that, much like the early days of 1992, Bitcoin is a new technology – and new technologies can take decades to reach critical mass.

But, much like the Internet, no one wants to miss out on the โ€˜next big thingโ€™ – and Bitcoin is the biggest thing yet. Constant updates are occurring to Bitcoin thanks to what is called a “hard fork”.

These constant updates ensure that digital currencies continue to experience growth through technological development.

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Bitcoin (BTC) :

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LiteCoin(LTC) :

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Ethereum(ETH) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856

EthereumClassic(ETC) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856

Cardano(ADA) :

addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d

BinanceCoin(BNB) :

bnb1wwfnkzs34knsrv2g026t458l0mwp5a3tykeylx

BitcoinCash(BCH)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

BitcoinSV(BSV)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

ZCash(ZEC) :

t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF

Dash(DASH) :

XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj

Shiba(SHIB) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856

Tron(TRX) :

TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8

Stellar(XLM) :

GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54

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Anarchy Legacy

A Crypto Anarchistโ€™s Legacy

Airfoil Dec 20, 2018

Timothy May on the cover of the second issue of Wired magazine with 2 fellow cypherpunks

Sadly, this past week we lost an icon that helped to spur the cypherpunk movement. Timothy May, who wrote The Crypto Anarchist Manifesto in 1988, lauched a movement that is still very prominent today.

For the uninitiated, a Crypto-Anarchist focuses on subverting the current laws and using new technologies to the benefit of the common man.

In the original manifesto, May says crypto-anarchy focuses on โ€œencryption, digital money, anonymous networks, digital pseudonyms, zero-knowledge, reputations, information markets, black markets, collapse of governmentsโ€.

The manifesto was written just before the first crypto wars began during the early 1990โ€™s.

The governments of the world fiercely opposed the general public using cryptographic encryption protocols.

The idea that a normal citizen could completely hide what they say in an electronic message was their biggest concern.

The governments cited national security as a concern (Weโ€™ve heard this excuse used many times before).

Tim May was embroiled in the center of this alongside his group of fellow cypherpunks.

RSA Security, a leading computer securty company founded by world-renowned cryptologists, created this poster against a hardware chip that used a US-government supplied encryption standard

The legislation of the anti-encryption laws would also affect payment processing technology. There was a large push back from tech companies that would have to deal with these issues first-hand.

The crypto wars of the 1990โ€™s ended with the concession from the government that encryption was readily available around the world.

The public had won their first bout against the government surveillance state. Alongside the public, you had the cypherpunks and large tech companies that were all fighting a common threat.

There was not much of an issue in terms of encryption for quite a few more years.

Every few years afterward, the idea of backdoors into encryption schemes were brought up but nothing ever came about these new ideations.

The Crypto Wars Redux

The expansion of computational power and development of more efficient processing equipment closed the gap as to who can gain access to encryption software.

The widespread availabilty of software/hardware that can perform these cryptographic calculations involved in encryption and the ease of use has made it possible for the layman to encrypt their own personal messages, video calls,emails, and notes.

Encrypting an email with someone who has never imported a key to their keyring, or generated their own PGP public/private key pair is a thing of the past.

Many of the services that exist today offer these solutions out of the box. The process has become much easier for all parties involved.

Anyone that is now using this technology benefits from this on a privacy and security level.

With all parties benefitting, the leviathan rears its head once more. Australia has passed an anti-encryption bill that will force large tech companies to allow the Australian government to obtain hardware access(citing national security as a major reason).

Outrage has spilled out of the larger tech companies. The end-to-end zero knowledge messaging/calling app, Signal, has taken a stand against this bill.

This sounds very similar to the issues Tim May was battling with during the early days of the First Crypto War.

The cypherpunks came out on top and Iโ€™m sure this legislation will face a similar fate.

Mayโ€™s Impact on the World

The imprint that Timothy May left on the world is profound. The mass adoption of encryption as well as cryptocurrencies shows just how far ahead of the times he was.

May urged the importance of privacy.

He insisted on the use of encryption to keep your communications private.

Currently on a majority of mobile phones there are applications that provide encrypted communications. Whatsapp uses the Signal protocol which was developed by cypherpunk Moxie Marlinspike.

The rise of cryptocurrencies is an ideal that May was very hopeful for.

May did come out against the anti-privacy issues of bitcoin.

There are projects that offer solutions for this privacy debate.

Much of the developer-base of these certain cryptocurrencies have their foundation based in the cypherpunk tradition.

The Cryptocurrencies that aim for a privacy by default mechanism are monero and the soon to launch GRIN which uses the Mimblewimble Protocol (To see an extremely entertaining introduction to the GRIN project via talk-to-text chat for privacy preservation, listen to the creator of Grin).

Zcash is moving in the direction of private by default and the superior cryptography of the ZK range proofs will help to create a very private cryptocurrency.

Cody WIlson and Amir Taaki who worked on projects focused on the crypto-anarchic tradition including Dark Wallet and Defense Distributed

The impact Tim May made on the world by helping to create a social movement shows the importance and strength of his ideals.

He has impacted a generation of people that are growing up in the digital age.

He influenced builders in the 21st century.

You have people creating new currencies, exposing government surveillance on a national scale, circumventing the broken bueracratic system by creating their own markets, anonymous internet protocols, as well as making encryption applicable to the common man (You can find a list of prominent cypherpunks here and also here).

There isnโ€™t enough that can be said about the applications in which he believed could positively affect us.

May was cognizant of the encroaching all-seeing eye of the state but I believe we are in much better shape now than weโ€™ve ever been.

There may be negative news about what we currently face as individuals, from the unprecedented surveillance of the Snowden leaks to the aforementioned Australian anti-encryption bill, but looking at the grand scheme of our daily lives, these tools and their functions have helped to create a much better day than May could have imagined in 1988.

He was a proponent for the industriousness of human nature to outpace the slow moving regulation that would try to bog down any progress.

You can listen here to what he thought people/creators should do when they develop ground breaking technology.

Arise, you have nothing to lose but your barbed wire fences!

Timothy C. May – “The Crypto Anarchist Manifesto”

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โœŒ & ๐Ÿ’š

Return on Investment (ROI)

What Is Return on Investment (ROI)?

Return on investment (ROI) is a performance measure used to evaluate the efficiency orย profitabilityย of an investment or compare the efficiency of a number of different investments.

ROI tries to directly measure the amount of return on a particular investment, relative to the investmentโ€™s cost.

To calculate ROI, the benefit (or return) of an investment is divided by the cost of the investment. The result is expressed as a percentage or a ratio.

KEY TAKEAWAYS

  • Return on Investment (ROI) is a popular profitability metric used to evaluate how well an investment has performed.
  • ROI is expressed as a percentage and is calculated by dividing an investment’s net profit (or loss) by its initial cost or outlay.
  • ROI can be used to make apples-to-apples comparisons and rank investments in different projects or assets.
  • ROI does not take into account the holding period or passage of time, and so it can miss opportunity costs of investing elsewhere.

How to Calculate Return on Investment (ROI)

The return on investment (ROI) formula is as follows:

“Current Value of Investmentโ€ refers to the proceeds obtained from the sale of the investment of interest. Because ROI is measured as a percentage, it can be easily compared with returns from other investments, allowing one to measure a variety of types of investments against one another.

Understanding Return On Investment (ROI)

ROI is a popular metric because of its versatility and simplicity. Essentially, ROI can be used as a rudimentary gauge of an investmentโ€™s profitability. This could be the ROI on a stock investment, the ROI a company expects on expanding a factory, or the ROI generated in a real estate transaction.

The calculation itself is not too complicated, and it is relatively easy to interpret for its wide range of applications. If an investmentโ€™s ROI is net positive, it is probably worthwhile. But if other opportunities with higher ROIs are available, these signals can help investors eliminate or select the best options.

Likewise, investors should avoid negative ROIs, which imply a net loss.

For example, suppose Bill invested $1,000 in New Wave AI Corp. in 2017 and sold the shares for a total of $1,200 one year later.

To calculate the return on this investment, divide the net profits ($1,200 – $1,000 = $200) by the investment cost ($1,000), for a ROI of $200/$1,000, or 20%.

With this information, one could compare the investment in New Wave AI with any other projects.

Suppose Bill also invested $2,000 in Web Pirates Inc. in 2014 and sold the shares for a total of $2,800 in 2017. The ROI on Billโ€™s holdings in Web Pirates would be $800/$2,000, or 40%.

Limitations of Return on Investment (ROI)

Examples like Bill’s (above) reveal some limitations of using ROI, particularly when comparing investments. While the ROI of Jo’s second investment was twice that of the first investment, the time between Joโ€™s purchase and sale was one year for the first investment but three years for the second.

Bill could adjust the ROI of the multi-year investment accordingly. Since the total ROI was 40%, to obtain the average annual ROI, Bill could divide 40% by 3 to yield 13.33% annualized.

With this adjustment, it appears that although Billโ€™s second investment earned more profit, the first investment was actually the more efficient choice.

ROI can be used in conjunction with the rate of return (RoR), which takes into account a projectโ€™s time frame.

One may also use net present value (NPV), which accounts for differences in the value of money over time, due to inflation.

The application of NPV when calculating the RoR is often called the real rate of return.

Developments in Return On Investment (ROI)

Recently, certain investors and businesses have taken an interest in the development of a new form of the ROI metric, called “social return on investment,” or SROI.

SROI was initially developed in the late 1990s and takes into account broader impacts of projects using extra-financial value (i.e., social and environmental metrics not currently reflected in conventional financial accounts).1

SROI helps understand the value proposition of certain environmental social and governance (ESG) criteria used in socially responsible investing (SRI) practices. For instance, a company may decide to recycle water in its factories and replace its lighting with all LED bulbs. These undertakings have an immediate cost that may negatively impact traditional ROIโ€”however, the net benefit to society and the environment could lead to a positive SROI.

There are several other new flavors of ROI that have been developed for particular purposes. Social media statistics ROI pinpoints the effectiveness of social media campaignsโ€”for example how many clicks or likes are generated for a unit of effort. Similarly, marketing statistics ROI tries to identify the return attributable to advertising or marketing campaigns.

So-called learning ROI relates to the amount of information learned and retained as a return on education or skills training.

As the world progresses and the economy changes, several other niche forms of ROI are sure to be developed in the future.

Frequently Asked Questions

How do you calculate return on investment (ROI)?

Return on investment (ROI) is calculated by dividing the profit earned on an investment by the cost of that investment.

For instance, an investment with a profit of $100 and a cost of $100 would have a ROI of 1, or 100% when expressed as a percentage.

Although ROI is a quick and easy way to estimate the success of an investment, it has some serious limitations.

For instance, ROI fails to reflect the time value of money, and it can be difficult to meaningfully compare ROIs because some investments will take longer to generate a profit than others.

For this reason, professional investors tend to use other metrics, such as net present value (NPV) or the internal rate of return (IRR).

What is a good ROI?

What qualifies as a โ€œgoodโ€ ROI will depend on factors such as the risk tolerance of the investor and the time required for the investment to generate a return.

All else being equal, investors who are more risk-averse will likely accept lower ROIs in exchange for taking less risk.

Likewise, investments that take longer to pay off will generally require a higher ROI in order to be attractive to investors.

What industries have the highest ROI?

Historically, the average ROI for the S&P 500 has been about 10% per year. Within that, though, there can be considerable variation depending on the industry.

For instance, during 2020, technology companies such as Apple Inc., Microsoft Corp., and Amzon.com Inc. generated annual returns well above this 10% threshold.

Meanwhile, companies in other industries, such as energy companies and utilities, generated much lower ROIs and in some cases faced losses year-over-year.

Over time, it is normal for the average ROI of an industry to shift due to factors such as increased competition, technological changes, and shifts in consumer preferences.

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Thank you all for your time !!!

โœŒ & ๐Ÿ’š


Bitcoin (BTC) :

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

LiteCoin(LTC) :

LYAdiSpsTJ36EWCJ5HF9EGy9iWGCwoLhed

Ethereum(ETH) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856

EthereumClassic(ETC) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856

Cardano(ADA) :

addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d

BinanceCoin(BNB) :

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BitcoinCash (BCH) :

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

Bitcoin SV (BSV) :

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

ZCash(ZEC) :

t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF

Dash(DASH) :

XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj

Shiba(SHIB) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856

Tron(TRX) :

TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8

Stellar(XLM) :

GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54

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Carlin – Fighting for Peace

Fighting for Peace…

George Denis Patrick Carlin (May 12, 1937 โ€“ June 22, 2008) was an American stand-up comedian, actor, social critic and author.

Regarded as one of the most important and influential stand-up comics of all time, he was dubbed “the dean of counterculture  comedians”.

He was known for his dark comedy and reflections on politics, the English language, psychology, religion and taboo subjects.

His “seven dirty words” routine was central to the 1978 United States Supreme Court case F.C.C. v. Pacifica Foundation, in which a 5โ€“4 decision affirmed the government’s power to censor indecent material on the public airwaves.

The first of Carlin’s 14 stand-up comedy specials for HBO was filmed in 1977. From the late 1980s, his routines focused on sociocultural criticism of American society.

He often commented on American political issues and satirized American culture. He was a frequent performer and guest host on The Tonight Show during the three-decade Johnny Carson era and hosted the first episode of Saturday Night Live in 1975. His final comedy special, It’s Bad for Ya, was filmed less than four months before his death from cardiac failure.

In 2008, he was posthumously awarded the Mark Twain Prize for American Humor. In 2004, he placed second on Comedy Central‘s list of top 10 American comedians.

In 2017, Rolling Stone magazine ranked him second (behind Richard Pryor) on its list of the 50 best stand-up comedians of all time.

His film roles included a taxi driver in Car Wash, Frank Madras in Outrageous Fortune, Rufus in Bill & Ted’s Excellent Adventure  and Bill & Ted’s Bogus Journey, Eddie Detreville in The Prince of Tides, Cardinal Ignatius Glick in Dogma, Architect in Scary Movie 3, and Bart Trinkรฉ in Jersey Girl. He did voice-over roles as Zugor in Tarzan II, Fillmore in Cars and narrated the first four seasons in the American dub of the British children’s television show Thomas & Friends.

GOAT
Greatest Of All Times

Wonder in Peace bright mind !

Thank you for the special moments !

With ๐Ÿ’š

BitHouse RedBubble Shop

Visit BitHouse-Co’s shop, for cool artwork on awesome products!

https://www.redbubble.com/people/BitHouse-Co/shop?asc=u

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Bitmain Antminer S19 Pro

Modelย Antminer S19PRO 110Th fromย Bitmainย miningย SHA-256 algorithmย with a maximum hashrate of 110 Th/sย for a power consumption ofย 3250W.
๐Ÿ”น๏ธ Specifications


Manufacturer:Bitmain

Model:Antminer S19Pro(110Th)

Release:May 2020

Size:195 x 290 x 370mm

Weight:13,200g

Noise level:75db

Fan(s):4

Power3250W

Voltage:12V

Interface:Ethernet

Temperature:5 - 40 ยฐC

Humidity:5 - 95 %
๐Ÿ”น๏ธ Minable coins :

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Curecoin (CURE): SHA-256
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Peercoin (PPC) : SHA-256
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BitcoinSV (BSV) : SHA-256
Price : $156.70

e-Mark (DEM) : SHA-256
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Terracoin (TRC) : SHA-256
Price : $0.02785

*Coinmarket.com Prices from 26/08/2021.
๐Ÿ”น๏ธ Mining pools:

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NiceHash
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๐Ÿ”น๏ธ Where to buy?

๐Ÿ”ธ๏ธVendors

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REWARD FORECAST FOR 1 S19PRO
 

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๐Ÿ”น๏ธ Electricity :
 
๐Ÿ”ธ๏ธ-$ย ย ย ย  3.90/Day 
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๐Ÿ”น๏ธ Profit :
 
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Napoleon Hill Quotes

To my Dearest Emily

A drop of Wisdom in an ocean of Ignorance, Stupidity, Mediocrity and Madness, that this world has become lately copฤƒcel… Sad…

May these quotes from bright minds all over the planet guide you and bring a ray of light on Your path !

From Papi with ๐Ÿงก Love ๐Ÿงก

Napoleon Hill

Napoleon Hill was an American author in the area of the new thought movement who was one of the earliest producers of the modern genre of personal-success literature.

He is widely considered to be one of the great writers on success.

His most famous work, Think and Grow Rich (1937), is one of the best-selling books of all time (at the time of Hill’s death in 1970, Think and Grow Rich had sold 20 million copies).

Hill’s works examined the power of personal beliefs, and the role they play in personal success.

He became an advisor to President Franklin D. Roosevelt from 1933 to 1936. “What the mind of man can conceive and believe, it can achieve” is one of Hill’s hallmark expressions.

How achievement actually occurs, and a formula for it that puts success in reach of the average person, were the focal points of Hill’s books.

” The starting point of all achievement is DESIRE.

Keep this constantly in mind.

Weak desire brings weak results, just as a small fire makes a small amount of heat. “

Napoleon Hill – “Think and Grow Rich”

Desire

Whatever the mind can conceive and believe, it can achieve. “

Napoleon Hill – “Think and Grow Rich”

The Mind

” You are the master of your destiny.

You can influence, direct and control your own environment.

You can make your life what you want it to be. “

Napoleon Hill – “Think and Grow Rich”

The Master of your destiny

” When defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your coveted goal. “

Napoleon Hill – “Think and Grow Rich”

Defeat

” Do not wait: the time will never be ‘just right’.

Start where you stand, and work whatever tools you may have at your command and better tools will be found as you go along. “

Napoleon Hill

Time will never be just right’

” When your desires are strong enough, you will appear to possess superhuman powers to achieve. “

Napoleon Hill

Desires and superhuman powers

” A quitter never wins and a winner never quits. “

Napoleon Hill

Quitter vs. Winner

” The man who does more than he is paid for will soon be paid for more than he does. “

Napoleon Hill

More than you’re paid

” Our only limitations are those we set up in our own minds. “

Napoleon Hill

Limitations

” Happiness is found in doing, not merely possessing. “

Napoleon Hill – “Think and Grow Rich”

Happiness

” An educated man is not, necessarily, one who has an abundance of general or specialized knowledge.

An educated man is one who has so developed the faculties of his mind that he may acquire anything he wants, or its equivalent, without violating the rights of others. “

Napoleon Hill – “Think and Grow Rich”

An educated man

” Every adversity, every failure, every heartbreak, carries with it the seed of an equal or greater benefit. “

Napoleon Hill – “Think and Grow Rich”

The Seed

” More gold had been mined from the mind of men than the earth it self. “

Napoleon Hill – “Think and Grow Rich”

Mind gold

” A goal is a dream with a deadline. “

Napoleon Hill

Goal

” Opinions are the cheapest commodities on earth.

Everyone has a flock of opinions ready to be wished upon anyone who will accept them.

If you are influenced by “opinions” when you reach DECISIONS, you will not succeed in any undertaking. “

Napoleon Hill – “Think and Grow Rich”

Opinions…cheapest commodities on earth !

” We refuse to believe that which we don’t understand. “

Napoleon Hill – “Think and Grow Rich”

Refuse to believe…

” You are entitled to know that two entities occupy your body.

One of these entities is motivated by and responds to the impulse of fear.

The other is motivated by and responds to the impulse of faith.

Will you be guided by faith or will you allow fear to overtake you? “

Napoleon Hill – “Outwitting the Devil: The Secret to Freedom and Success”

Fear

” Remember that your dominating thoughts attract, through a definite law of nature, by the shortest and most convenient route, their physical counterpart.

Be careful what your thoughts

dwell upon. “

Napoleon Hill – “Outwitting the Devil: The Secret to Freedom and Success”

Law of Nature

” IF – and this is the greatest of them all – I had the courage to see myself as I really am, I would find out what is wrong with me, and correct it, then I might have a chance to profit by my mistakes and learn something from the experience of others,for I know that there is something WRONG with me, or I would now be where I WOULD HAVE BEEN IF I had spent more time analyzing my weaknesses, and less time building alibis to cover them. “

Napoleon Hill – “Think and Grow Rich”

Courage to see thyself

” First comes thought; then organization of that thought, into ideas and plans; then transformation of those plans into reality.

The beginning, as you will observe, is in your imagination. “

Napoleon Hill

Imagination

” The strongest oak of the forest is not the one that is protected from the storm and hidden from the sun.

Itโ€™s the one that stands in the open where it is compelled to struggle for its existence against the winds and rains and the scorching sun. “

Napoleon Hill

Strongest oak

” Weak desires bring weak results, just as a small amount of fire brings a small amount of heat. “

Napoleon Hill

Weak desires

” In parting, I would remind you that โ€œLife is a checkerboard, and the player opposite you is time.

If you hesitate before moving, or neglect to move promptly, your men will be wiped off the board by time.

You are playing against a partner who will not tolerate decisions! “

Napoleon Hill – “Think and Grow Rich”

Life is a checkboard

” Persistence is to the character of man as carbon is to steel. “

Napoleon Hill

Persistance

” A genius is simply one who has taken full possession of his own mind and directed it toward objectives of his own choosing, without permitting outside influences to discourage or mislead him. “

Napoleon Hill

Genius

” Neglecting to broaden their view has kept some people doing one thing all their

lives.”

Napoleon Hill – “Think and Grow Rich”

Broaden your view

” If you are not learning while youโ€™re earning, you are cheating yourself out of the better portion of your compensation. “

Napoleon Hill

Learning while you’re earning

” Wise men, when in doubt whether to speak or to keep quiet, give themselves the benefit of the doubt, and remain silent. “

Napoleon Hill

Silence

” One who has loved truly, can never lose entirely.

Love is whimsical and temperamental. Its nature is ephemeral, and transitory.

It comes when it pleases,and goes away without warning.

Accept and enjoy it while it remains, but spend no time worrying about its departure.

Worry will never bring it back. “

Napoleon Hill – “Think and Grow Rich”

Love

” TELL THE WORLD WHAT YOU INTEND TO DO, BUT FIRST SHOW IT.

This is the equivalent of saying “deeds, and not words, are what count most. “

Napoleon Hill – “Think and Grow Rich”

” Remember,too,that all who succeed in life get off to a bad start,and pass through many heartbreaking struggles before they “arrive”.

The turning point in the lives of those who succeed usually comes at some moment of crisis,through which they are introduced to their “other selves”. “

Napoleon Hill – “Think and Grow Rich”

The turning point

“Most great people have attained their greatest success just one step beyond their greatest failure.”

Napoleon Hill

One step beyond your greatest failure

” Awake, arise,and assert yourself,

you dreamers of the world.

Your star is now in ascendancy. “

Napoleon Hill – “Think and Grow Rich”

Dreamers of the world

” Most so called FAILURES are only temporary defeats. “

Napoleon Hill – “Law of Success”

Temporary defeats

” Effort only fully releases its reward after a person refuses to quit. “

Napoleon Hill

Effort and reward

” Fears are nothing more than

a state of mind. “

Napoleon Hill – “Law of Success”

Fears

” Whatever the mind can conceive and believe, the mind can achieve regardless of how many times you may have failed in the past or how lofty your aims and hopes may be. “

Napoleon Hill

The mind

” You are entitled to know that two entities occupy your body.

One of these entities is motivated by and responds to the impulse of fear.

The other is motivated by and responds to the impulse of faith.

Will you be guided by faith or will you allow fear to overtake you? “

Napoleon Hill – “Outwitting the Devil: The Secret to Freedom and Success”

Faith vs Fear

” The only limitation is that which one sets up in one’s own mind. “

Napoleon Hill – “Think and Grow Rich”

Limitation

” Every man is what he is, because of the dominating thoughts which he permits to occupy his mind. “

Napoleon Hill – “Think and Grow Rich”

Dominating thoughts

” There is no substitute for persistence.

The person who makes persistence his watch-word, discovers that โ€œOld Man Failureโ€ finally becomes tired, and makes his departure.

Failure cannot cope with persistence. “

Napoleon Hill – “Think and Grow Rich”

Persistance

” The most practical of all methods for controlling the mind is the habit of keeping it busy with a definite purpose, backed by a definite plan.”

And

“A man whose mind is filled with fear not only destroys his own chances of intelligent action, but he transmits these destructive vibrations to the minds of all who come in contact with him, and destroys, also, their chances.”

Napoleon Hill – “Think and Grow Rich”

Mind busy with definite purpose

” Patience, persistence and perspiration make an unbeatable combination for success. “

Napoleon Hill

3 P’s

“Success requires no explanations.

Failure permits no alibis.”

Napoleon Hill – “Think and Grow Rich”

Success

” He had nothing to start with, except the capacity to know what he wanted, and the determination to stand by that desire until he realized it. “

Napoleon Hill, Think and Grow Rich

Determination and Desire

” Nature will not tolerate idleness or vacuums of any sort.

All space must be and is filled with something . . .

When the individual does not use the brain for the expression of positive, creative thoughts, nature fills the vacuum by forcing the brain to act upon negative thoughts.

Napoleon Hill – “Outwitting the Devil: The Secret to Freedom and Success”

Nature

” Close friends and relatives, while not meaning to do so, often handicap one through โ€œopinionsโ€ and sometimes through ridicule, which is meant to be humorous.

Thousands of men and women carry inferiority complexes with them all through life, because some well-meaning, but ignorant person destroyed their confidence through โ€œopinionsโ€ or ridicule. “

Napoleon Hill – “Think and Grow Rich”

Opinions

” If you must be careless with your possessions, let it be in connection with material things.

Your mind is your spiritual estate!

Protect and use it with the care to which Divine Royalty is entitled.

You were given a WILL-POWER for this purpose. “

Napoleon Hill – “Think and Grow Rich”

Your mind is your spiritual estate

” Deliberately seek the company of people who influence you to think and act for yourself. “

Napoleon Hill – “Think and Grow Rich”

Company of people who influence you

” Remember, the thoughts that you think and the statements you make regarding yourself determine your mental attitude.

If you have a worthwhile objective, find the one reason why you can achieve it rather than hundreds of reasons why you canโ€™t. “

Napoleon Hill

Worthwhile objective

” Failure always is a blessing when it forces one to acquire knowledge or to build habits that lead to the achievement of oneโ€™s major purpose in life. “

Napoleon Hill – “Outwitting the Devil: The Secret to Freedom and Success”

Failure

” All the breaks you need in life wait within your imagination.

Imagination is the workshop of your mind, capable of turning mind energy into accomplishment and wealth. “

Napoleon Hill

Imagination – the workshop of your mind

“Knowledge has no value except that which can be gained from its application towards some worthy end.”

Napoleon Hill, Think and Grow Rich

Knowledge

” The ladder of success is never crowded at the top. “

Napoleon Hill – “Think and Grow Rich”

Ladder of success

” There is one weakness in people for which there is no remedy.

It is the universal weakness of LACK OF AMBITION! “

Napoleon Hill – “Think and Grow Rich”

Lack of Ambition

“One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat.”

Napoleon Hill – “Think and Grow Rich”

Temporary defeat

” Love is essential for happiness, but the person who loves so deeply that his or her happiness is placed entirely in the hands of another, resembles the little lamb who crept into the den of the nice, gentle little wolf and begged to be permitted to lie down and go to sleep, or the canary. “

Napoleon Hill – “The Law of Success in Sixteen Lessons”

Love

” The leaders in every walk of life decide quickly, and firmly.

That is the major reason why they are leaders.

The world has the habit of making room for the man whose words and actions show that he knows where he is going. “

Napoleon Hill – “Think and Grow Rich”

Know where you’re going

” ASK any wise man what he most desires and he will, more than likely, say “more wisdom. “

Napoleon Hill – “The Law of Success in Sixteen Lessons”

More Wisdom

” You have a brain and mind of your own.

Use it, and reach your own decisions. “

Napoleon Hill – “Think and Grow Rich”

You have a brain…Use it!

Thoughts are things,” and powerful things at that, when they are mixed with definiteness of purpose, persistence, and a burning desire…

Napoleon Hill

Thoughts are things

” Every person who wins in any undertaking must be willing to burn his ships and cut all sources of retreat.”

Napoleon Hill – “Think and Grow Rich”

No retreat

” The mind has a definite way of clothing one’s thoughts in appropriate physical equivalents.

Think in terms of poverty and you will live in poverty.

Think in terms of opulence and you will attract opulence.

Through the eternal law of harmonious attraction, one’s thoughts always clothe themselves in material things appropriate unto their nature. “

Napoleon Hill – “You Can Work Your Own Miracles”

The Mind

” No man is your enemy, no man is your friend, every man is your teacher. “

Napoleon Hill – “The Prosperity Bible: The Greatest Writings of All Time on the Secrets to Wealth and Prosperity”

Every man is your teacher

” INSUFFICIENT EDUCATION.

This is a handicap that may be overcome with comparative ease.

Experience has proven that the best-educated people are often those who are known as โ€˜self-madeโ€™ or self-educated.

It takes more than a university degree to make one a person of education.

Any person who is educated has learned to get whatever they want in life without violating the rights of others.

Education consists not so much of knowledge, but of knowledge effectively and persistently applied.

People are paid not merely for what they know, but more particularly for what they do with what they know. “

Napoleon Hill – “Think and Grow Rich”

Self-Education

” Then accumulated knowledge is not wisdom?

A Great heavens, no!

If knowledge were wisdom, the achievements of science would not have been converted into implements of destruction. “

Napoleon Hill – “Outwitting the Devil: The Secret to Freedom and Success”

Knowledge vs Wisdom

” The entire world is made up of only two things, energy and matter.

In elementary physics we learn that neither matter nor energy (the only two realities known to man) can be created nor destroyed.

Both matter and energy can be transformed, but neither can be destroyed.

Life is energy, if it is anything.

If neither energy nor matter can be destroyed, of course life cannot be destroyed.

Life, like other forms of energy, may be passed through various processes of transition, or change, but it cannot be destroyed.

Death is mere transition.

If death is not mere change, or transition, then nothing comes after death except a long, eternal, peaceful sleep, and sleep is nothing to be feared.

Thus you may wipe out, forever, the fear of Death. “

Napoleon Hill – “Think and Grow Rich”

Fear of Death

” ‘Master Mind’, meaning a mind that is developed through the harmonious co-operation of two or more people who ally themselves for the purpose of accomplishing any given task. “

Napoleon Hill – “The Law of Success”

“Master Mind”

” KNOWLEDGE will not attract money, unless it is organized, and intelligently directed, through practical PLANS OF ACTION, to the DEFINITE END of accumulation of money.

Lack of understanding of this fact has been the source of confusion to millions of people who falsely believe that “knowledge is power.”

It is nothing of the sort!

Knowledge is only potential power.

It becomes power only when, and if, it is organized into definite plans of action, and directed to a definite end. “

Napoleon Hill – “Think and Grow Rich”

Knowledge is potential power

Sources :

https://en.m.wikipedia.org/wiki/Napoleon_Hill

https://www.goodreads.com/author/quotes/399.Napoleon_Hill

With ๐Ÿงก