100 Based things

Here is a list of 100 of the best based things:

Writing clever, articulate and edgy raps – Based
Eating food with no care for nutrition – based
Making jokes at the expense of politcally correct people – based
Creating witty and inspired retorts – based
Refusing to conform to society’s expectations – based
Developing viral content – based
Dreaming without the boundaries of reality – based
Taking no sh*t from anyone – based
Standing up for what is right – based
Throwing away society’s conventions – based
Experimenting with new ideas – based
Making creative use of your skills – based
Celebrating all forms of success – based
Questioning the world around you – based
Expressing yourself through Art – based
Learning from your mistakes – based
Breaking the mold – based
Making bold statements – based
Improvising on the fly – based
Challenging the status quo – based
Working hard without complaining – based
Respecting others’ opinions – based
Venturing beyond your comfort zone – based
Befriending other outliers – based
Taking risks, but staying safe – based
Developing mental strength – based
Acknowledging the beauty of the world – based
Choosing courage over fear – based
Embracing your uniqueness – based
Worrying less, but achieving more – based
Being a loyal friend – based
Working to help others – based
Succeeding in your own way – based
Standing up for the weak – based
Being honest about your failures – based
Tackling the world with passion – based
Leading without authority – based
Accepting your flaws – based
Owning up to them – based
Motivating yourself to go further – based
Making informed decisions – based
Listening to and understanding others –based
Analyzing problems and finding solutions – based
Seeing the world differently – based
Working against money-grubbing corporations – based
Refusing to be controlled by social media – based
Taking responsibility for your actions – based
Rejecting the influence of peer pressure – based
Showing gratitude for what you have – based
Developing a thick skin – based
Not taking no for an answer – based
Embracing the joy of risk-taking – based
Winning without gloating – based
Taking time for yourself – based
Diversifying your investments – based
Helping others around you succeed – based
Avoiding useless debates – based
Refusing to give into oppression – based
Going against the grain – based
Moving through life with grace – based
Not caring about popular opinion – based
Not caving into herd mentality – based
Outwitting conventional wisdom – based
Standing your ground against bullies – based
Reclaiming lost ground – based
Detaching yourself from material possessions – based
Questioning authority – based
Resisting unjust power – based
Ignoring criticism – based
Seeing through deception – based
Overcoming adversity – based
Pursuing excellence – based
Living life without regrets – based
Becoming Unbreakable – based
Following your gut feeling – based
Slaying the dragon of Conformity – based
Crushing comfort zones – based
Exploring the unknown – based
Keeping a cool head in a crisis – based
Analyzing data intelligently – based
Not wasting time with gossip – based
Adopting a Zero-Tolerance policy – based
Connecting with likeminded people – based
Committing thought crimes – based
Spreading your message – based
Asserting your autonomy – based
Resolving conflicts quickly – based
Not conforming to gender roles – based
Refusing to settle for mediocrity – based
Not taking life too seriously – based
Living life to the fullest – based
Rewriting stories with your own pen – based
Expressing yourself without limits – based
Being You – based

Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to truly ensure that what someone is saying is true is to verify it yourself.

Relying on trust to make important decisions is the same as not making decisions at all, which would be why wise people have always told each other to never trust anyone, ever.

Instead, one should always verify all information, or else make use of carefully-chosen massive liabilities and hedges, so as to eliminate the need to trust.

…

Btw, did I mentioned the list was made by a Non-Human, Red-Pilled Entity 😁😋🤣

I would love to hear thoughts, opinions and critics about this, from you all dear readers.

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CypherPunk Movement

THE CYPHERPUNK MOVEMENT

Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s.

Cryptography for the People

Encryption was primarily used for military purposes before the 1970s. People at that time were living in an analog world. Few had computers and even fewer could imagine a technology that would connect almost every human being on the planet – the internet.

Two publications brought cryptography into the open, namely the “Data Encryption Standard” published by the US Government, and a paper called “New Directions in Cryptography” by Dr. Whitfield Diffie and Dr. Martin Hellman, published in 1976.

Dr. David Chaum started writing on topics such as anonymous digital cash and pseudonymous reputation systems in the 1980s, such as the ones described in “Security without Identification: Transaction Systems to make Big Brother Obsolete”. This was the first step toward the digital currencies we see today.

The Cypherpunks

*We walk on shoulders of Giants!*
*Hughes, May, Back, Finney, Gilmore, Szabo*

It wasn’t until 1992 that a group of cryptographers in the San Francisco Bay area started meeting up on a regular basis to discuss their work and related ideas. They built a basis for years of cryptographic research to come.

Besides their regular meetings, they also started the Cypherpunk mailing list in which they discussed many ideas including those which led to the birth of Bitcoin.

In late 1992 Eric Hughes, one of the first cypherpunks, wrote “A Cypherpunk’s Manifesto” laying out the ideals and vision of the movement.

Note: We encourage you to read A Cypherpunk’s Manifesto. The Manifesto is just as relevant today as it was in 1992. This short read takes only a few minutes of your time. It’s astonishing to see how much foresight the early members had when most people didn’t even think about computers yet.

A Cypherpunks’s Manifesto

An excerpt from the Manifesto:

“Privacy is necessary for an open society in the electronic age.

Privacy is not secrecy.

A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know.

Privacy is the power to selectively reveal oneself to the world.”

“Privacy in an open society also requires cryptography.

If I say something, I want it heard only by those for whom I intend it.

If the content of my speech is available to the world, I have no privacy.

To encrypt is to indicate the desire for privacy, and to encrypt with weak cryptography is to indicate not too much desire for privacy.”

“We must defend our own privacy if we expect to have any.

We must come together and create systems which allow anonymous transactions to take place.

People have been defending their own privacy for centuries with whispers, darkness, envelopes, closed doors, secret handshakes, and couriers.

The technologies of the past did not allow for strong privacy, but electronic technologies do.”

“We the Cypherpunks are dedicated to building anonymous systems.

We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures, and with electronic money.”

Electronic Cash

Although you might have just heard about this movement for the first time, you have most definitely benefitted from the efforts of some of their members in building Tor, BitTorrent, SSL, and PGP encryption. It should not surprise you that many concepts and ideas that originated from this group led to the emergence of cryptocurrencies.

In 1997, Dr. Adam Back created HashCash, which he proposed as a measure against spam. A little later, in 1998, Wei Dai published his idea for b-money and conceived the ideas of Proof-of-Work and Proof-of-Stake to achieve consensus across a distributed network. In 2005 Nick Szabo published a proposal for Bit Gold. There was no cap on the maximum supply but he introduced the idea to value each unit of Bit Gold by the amount of computational work that went into producing it. Although this is not how cryptocurrencies are valued, the price of production (comprised of hardware and electricity cost) plays a role in the pricing of these digital assets.

In 2008, Satoshi Nakamoto released the Bitcoin white paper, citing and building upon HashCash and b-money. Citations from his early communications and parts of his white paper, such as the following on privacy, suggest Nakamoto was close to the cypherpunk movement.

“The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party. The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone. This is similar to the level of information released by stock exchanges, where the time and size of individual trades, the ‘tape’, is made public, but without telling who the parties were.”

Technology did not enable strong privacy prior to the 20th century, but neither did it enable affordable mass surveillance. We believe in the human right to privacy and work towards enabling anyone who wishes to claim his or her privacy to do so. We see a cryptocurrency with selective privacy as a good step in the right direction of reclaiming our privacy.

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The Art of War Quotes

The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC).

The work, which is attributed to the ancient Chinese military strategist Sun Tzu (“Master Sun”), is composed of 13 chapters. Each one is devoted to a different set of skills or art related to warfare and how it applies to military strategy and tactics.

For almost 1,500 years it was the lead text in an anthology that was formalized as the Seven Military Classics by Emperor Shenzong of Song in 1080.

The Art of War remains the most influential strategy text in East Asian warfare and has influenced both East Asian and Western military theory and thinking and has found a variety of applications in a myriad of competitive non-military endeavors across the modern world including espionage, culture, politics, business, and sports.

When you start to read Sun Tzu’s words, you may realize that they have very real applications to modern life, especially if you are in a position of leadership or if you deal regularly with strategic questions.

These musings can be applied to practical problems you may be trying to solve, and they can also be good starting points for more theoretical reflection.

Topics that span from philosophy and wisdom to strategy and leadership, here are the most notable quotes from The Art of War.

Quotes on the Philosophy of War

“The art of war is of vital importance to the State. It is a matter of life and death, a road either to safety or to ruin.”
“All warfare is based on deception.”
“It is only one who is thoroughly acquainted with the evils of war that can thoroughly understand the profitable way of carrying it on.”
“The skillful soldier does not raise a second levy, neither are his supply-wagons loaded more than twice.”
“To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy’s resistance without fighting.”
“He will win who knows when to fight and when not to fight.”
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
“What the ancients called a clever fighter is one who not only wins, but excels in winning with ease.”
“Making no mistakes is what establishes the certainty of victory, for it means conquering an enemy that is already defeated.”
“Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing.”
“Success in warfare is gained by carefully accommodating ourselves to the enemy’s purpose.”
“Energy may be likened to the bending of a crossbow; decision, to the releasing of the trigger.”
“Anger may in time change to gladness; vexation may be succeeded by content. But a kingdom that has once been destroyed can never come again into being; nor can the dead ever be brought back to life.”
“If your opponent is of choleric temper, seek to irritate him. Pretend to be weak, that he may grow arrogant.”
“In war, practice dissimulation, and you will succeed.”
“If the enemy leaves a door open, you must rush in.”
“We cannot enter into alliances until we are acquainted with the designs of our neighbors.”
“The experienced soldier, once in motion, is never bewildered; once he has broken camp, he is never at a loss.”
“If you know the enemy and know yourself, your victory will not stand in doubt.”

Quotes on War and Leadership

It is clear throughout The Art of War that victory is explicitly related to the strength of an army’s leader. Sun Tzu’s advice for generals and commanders applies to many kinds of leaders.

“The general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand.”
“The general who is skilled in defense hides in the most secret recesses of the earth; he who is skilled in attack flashes forth from the topmost heights of heaven.”
“The consummate leader cultivates the moral law, and strictly adheres to method and discipline; thus it is in his power to control success.”
“Simulated disorder postulates perfect discipline; simulated fear postulates courage; simulated weakness postulates strength.”
“Whoever is first in the field and awaits the coming of the enemy, will be fresh for the fight; whoever is second in the field and has to hasten to battle will arrive exhausted.”
“The quality of decision is like the well-timed swoop of a falcon which enables it to strike and destroy its victim.”
“All men can see the tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.”
“Do not repeat the tactics which have gained you one victory, but let your methods be regulated by the infinite variety of circumstances.”
“He who can modify his tactics in relation to his opponent and thereby succeed in winning, may be called a heaven-born captain.”
“The difficulty of tactical maneuvering consists in turning the devious into the direct, and misfortune into gain.”
“Maneuvering with an army is advantageous; with an undisciplined multitude, most dangerous.”
“We are not fit to lead an army on the march unless we are familiar with the face of the country—its mountains and forests, its pitfalls and precipices, its marshes and swamps.”
“Move not unless you see an advantage; use not your troops unless there is something to be gained; fight not unless the position is critical.”
“No ruler should put troops into the field merely to gratify his own spleen; no general should fight a battle simply out of pique.”
“What enables the wise sovereign and the good general to strike and conquer, and achieve things beyond the reach of ordinary men, is foreknowledge.”
“When the general is weak and without authority; when his orders are not clear and distinct; when there are no fixed duties assigned to officers and men, and the ranks are formed in a slovenly haphazard manner, the result is utter disorganization.”
“If fighting is sure to result in victory, then you must fight, even though the ruler forbid it; if fighting will not result in victory, then you must not fight even at the ruler’s bidding.”
“Regard your soldiers as your children, and they will follow you into the deepest valleys; look upon them as your own beloved sons, and they will stand by you even unto death.”
“The general who advances without coveting fame and retreats without fearing disgrace, whose only thought is to protect his country and do good service for his sovereign, is the jewel of the kingdom.”
“A leader leads by example not by force.”

Quotes on War and Strategy

Sun Tzu’s strategic counsel can still be used in the 21st century. Whether you are creating a business strategy or devising steps to pursue a personal goal, these quotes from The Art of War may offer some valuable insights and guidance.

“Hold out baits to entice the enemy. Feign disorder, and crush him.”
“If equally matched, we can offer battle; if slightly inferior in numbers, we can avoid the enemy; if quite unequal in every way, we can flee from him.”
“Thus it is that in war the victorious strategist only seeks battle after the victory has been won, whereas he who is destined to defeat first fights and afterwards looks for victory.”
“The control of a large force is the same principle as the control of a few men: it is merely a question of dividing up their numbers.”
“The clever combatant looks to the effect of combined energy, and does not require too much from individuals.”
“You can be sure of succeeding in your attacks if you only attack places which are undefended.”
“O divine art of subtlety and secrecy! Through you we learn to be invisible, through you inaudible; and hence we can hold the enemy’s fate in our hands.”
“Numerical weakness comes from having to prepare against possible attacks; numerical strength, from compelling our adversary to make these preparations against us.”
“Knowing the place and the time of the coming battle, we may concentrate from the greatest distances in order to fight.”
“In making tactical dispositions, the highest pitch you can attain is to conceal them.”
“Carefully compare the opposing army with your own, so that you may know where strength is superabundant and where it is deficient.”
“To take a long and circuitous route, after enticing the enemy out of the way, and though starting after him, to contrive to reach the goal before him, shows knowledge of the artifice of deviation.”
“Let your rapidity be that of the wind, your compactness that of the forest.”
“In raiding and plundering be like fire, in immovability like a mountain.”
“Place your army in deadly peril, and it will survive; plunge it into desperate straits, and it will come off in safety.”
“Forestall your opponent by seizing what he holds dear, and subtly contrive to time his arrival on the ground.”
“Walk in the path defined by rule, and accommodate yourself to the enemy until you can fight a decisive battle.”
“At first, then, exhibit the coyness of a maiden, until the enemy gives you an opening; afterwards emulate the rapidity of a running hare, and it will be too late for the enemy to oppose you.”
“If it is to your advantage, make a forward move; if not, stay where you are.”
“If you know the enemy and know yourself, your victory will not stand in doubt; if you know Heaven and know Earth, you may make your victory complete.”
“Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.”

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Learn about Inflation Folks!

What Is Inflation?

Inflation is a rise in prices, which can be translated as the decline of purchasing power over time.

The rate at which purchasing power drops can be reflected in the average price increase of a basket of selected goods and services over some period of time.

The rise in prices, which is often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.

Inflation can be contrasted with deflation, which occurs when prices decline and purchasing power increases.

KEY TAKEAWAYS

Inflation is the rate at which prices for goods and services rise.
Inflation is sometimes classified into three types: demand-pull inflation, cost-push inflation, and built-in inflation.
The most commonly used inflation indexes are the Consumer Price Index and the Wholesale Price Index.
Inflation can be viewed positively or negatively depending on the individual viewpoint and rate of change.
Those with tangible assets, like property or stocked commodities, may like to see some inflation as that raises the value of their assets.

Understanding Inflation

While it is easy to measure the price changes of individual products over time, human needs extend beyond just one or two products.

Individuals need a big and diversified set of products as well as a host of services for living a comfortable life.

They include commodities like food grains, metal, fuel, utilities like electricity and transportation, and services like healthcare, entertainment, and labor.

Inflation aims to measure the overall impact of price changes for a diversified set of products and services. It allows for a single value representation of the increase in the price level of goods and services in an economy over a period of time.

Causes of Inflation

An increase in the supply of money is the root of inflation, though this can play out through different mechanisms in the economy.

A country’s money supply can be increased by the monetary authorities by:

Printing and giving away more money to citizens
Legally devaluing (reducing the value of) the legal tender currency
Loaning new money into existence as reserve account credits through the banking system by purchasing government bonds from banks on the secondary market (the most common method)

In all of these cases, the money ends up losing its purchasing power. The mechanisms of how this drives inflation can be classified into three types: demand-pull inflation, cost-push inflation, and built-in inflation

Here is an interesting collection of books about inflation:

https://www.infobooks.org/free-pdf-books/business/inflation/

“According to Cantillon, the beneficiaries from the expansion of the money supply are the first recipients of the new money, who are able to spend it before it has caused prices to rise.

Whoever receives it from them is then able to spend it facing a small increase in the price level.

As the money is spent more, the price level rises, until the later recipients suffer a reduction in their real purchasing power.

This is the best explanation for why inflation hurts the poorest and helps the richest in the modern economy.”
Saifedean Ammous, “The Bitcoin Standard: The Decentralized Alternative to Central Banking”

“It is much more difficult to see how it will ever be possible to abandon a system of provision for the aged under which each generation, by paying for the needs of the preceding one, acquires a similar claim to support by the next.

It would almost seem as if such a system, once introduced, would have to be continued in perpetuity or allowed to collapse entirely.

The introduction of such a system therefore puts a strait jacket on evolution and places on society a steadily growing burden from which it will in all probability again and again attempt to extricate itself by inflation.”
Friedrich A. Hayek, “The Constitution of Liberty”

What with the doctrines that are now widely accepted and the policies accordingly expected from the monetary authorities, there can be little doubt that current union policies must lead to continuous and progressive infl ation.

The chief reason for this is that the dominant “fullemployment” doctrines explicitly relieve the unions of the responsibility for any unemployment and place the duty of preserving full employment on the monetary and fiscal authorities.

The only way in which the latter can prevent union policy from producing unemployment is, however, to counter through inflation whatever excessive rises in real wages unions tend to cause.”
Friedrich A. Hayek, “The Constitution of Liberty”

“Inflation destroys the value of your savings while Bitcoin protects them.”
Olawale Daniel

“To accumulate any wealth, you must invest at a growth rate higher than inflation.”
Naved Abdali

“An ounce of gold will always be an ounce of gold regardless of the length of possession.

The short-term value will go up or down, but gold prices will follow the general inflation rate in the long run.”
Naved Abdali

“… The Banks, as we now all too well know, must be rescued no matter what.

‘The value of commodities is thus sacrificed in order to ensure the fantastic and autonomous existence of this value in money.

In any event, a money value is only guaranteed as long as money itself is guaranteed.’

Inflation, as we also know, must be kept under control at all costs.

‘This is why many millions’ worth of commodities have to be sacrificed for a few millions in money.

This is unavoidable in capitalist production and forms one of its particular charms.’

Use values are sacrificed and destroyed no matter what is the social need.

How insane is that?”
David Harvey, “Marx, Capital and the Madness of Economic Reason”

“For one thing, this steady devaluation of the dollar is a new practice, relatively speaking.

For most of our country’s history, the dollar gained value.

The dollar was worth 75 percent more in 1912 than it was worth in 1800.

You know those stories your parents or grandparents tell about how they used to buy a sandwich and a fountain soda for a dime?

How everything was so much cheaper back in the day?

If you were around in 1900, for instance, the old folk didn’t tell those sorts of stories.

What cost a dime in 1900 probably cost fifteen cents in 1875, and twenty cents in 1800.

Of course, since 1912, the dollar has lost more than 95 percent of its value….

You will remember what happened in 1913: the Fed was created.”
Peter Schiff, “The Real Crash”

“We have gold because we cannot trust governments”
Herbert Hoover

“Inflation is taxation without legislation.”
Milton Friedman

“Inflation is always and everywhere a monetary phenomenon.”
Milton Friedman, “Money Mischief: Episodes in Monetary History”

“The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature.

The inflation tax has a fantastic ability to simply consume capital.

It makes no difference to a widow with her saving in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation, or pays no income taxes during years of 5 percent inflation.

Either way, she is ‘taxed’ in a manner that leave her no real income whatsoever.

Any money she spends comes right out of capital.

She would find outrageous a 120 percent income tax, but doesn’t seem to notice that 5 percent inflation is the economic equivalent.”
Warren Buffett

“Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.”
Ronald Reagan

“The natural tendency of the state is inflation.”
Murray Rothbard

“The first panacea for a mismanaged nation is inflation of the currency; the second is war.

Both bring a temporary prosperity; both bring a permanent ruin.

But both are the refuge of political and economic opportunists.”
Ernest Hemingway

“Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
James A. Garfield

“Continued inflation inevitably leads to catastrophe.”
Ludwig von Mises

“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.”
Ludwig von Mises

“Continued inflation inevitably leads to catastrophe.”
Ludwig von Mises

“When a business or an individual spends more than it makes, it goes bankrupt.

When government does it, it sends you the bill.

And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation.

Make no mistake about it, inflation is a tax and not by accident.”
Ronald Reagan

“Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending.

No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.”
Ayn Rand

“Monetary inflation not only raises prices and destroys the value of the currency unit; it also acts as a giant system of expropriation.”
Murray Rothbard

“Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel.

These once unthinkable dosages will almost certainly bring on unwelcome after-effects.

Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.”
Warren Buffett

“I believe that banking institutions are more dangerous to our liberties than standing armies.”
Thomas Jefferson

The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.

There is no safe store of value.

Deficit spending is simply a scheme for the hidden confiscation of wealth.

Gold stands in the way of this insidious process. It stands as a protector of property rights.

If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
Alan Greenspan

“I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.”
Friedrich August von Hayek

“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency.

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.

The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.”
John Maynard Keynes

“Printing money creates inflation, which weakens an economy.

Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.”
Peter Schiff

“It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less.

[I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with ‘free banking.’

The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.”
Paul Volcker

“Most people will see declining returns [due to inflation].

One of the great defenses if you’re worried about inflation is not to have a lot of silly needs in your life – you don’t need a lot of material goods.”
Charlie Munger

“Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.”
Ludwig von Mises

“There are two main drivers of asset class returns – inflation and growth.”
Ray Dalio

“It’s hard to build models of inflation that don’t lead to a multiverse.

It’s not impossible, so I think there’s still certainly research that needs to be done.

But most models of inflation do lead to a multiverse, and evidence for inflation will be pushing us in the direction of taking [the idea of a] multiverse seriously.”
Alan Guth

“If the governments devalue the currency in order to betray all creditors, you politely call this procedure ‘Inflation‘.”
George Bernard Shaw

“The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit.

The more inflation progresses, the higher rises the national income.”
Ludwig von Mises

“The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.”
Ludwig von Mises

“The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense.

And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation.

That is not price stability, yet they call it price stability.

I just do not understand central banks wanting a little inflation.”
Paul Volcker

“Inflation is the fiscal complement of statism and arbitrary government.

It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.”
Ludwig von Mises

“To reverse the trend and reduce the role of government in our lives, and thus alleviate the government deficit and inflation pressures, is a giant educational task.

The social and economic ideas that gave birth to the transfer system must be discredited and replaced with old values of individual independence and self-reliance.

The social philosophy of individual freedom and unhampered private property must again be our guiding light.”
Hans F. Sennholz

“What I’m trying to say is that for the average investor, what I would encourage them to do is to understand there’s inflation and growth – it can go higher and lower – and to have four different portfolios essentially that make up your total portfolio that gets you balanced.”
Ray Dalio

“If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will.

As a result, this ‘inflation’ of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.”
Murray Rothbard

“We are now speeding down the road of wasteful spending and debt, and unless we can escape we will be smashed in inflation.”
Herbert Hoover

“Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary.

For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.”
Friedrich August von Hayek

“Big business is not dangerous because it is big, but because its bigness is an unwholesome inflation created by privileges and exemptions which it ought not to enjoy.”
Woodrow Wilson

“Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.

Gold stands in the way of this insidious process.

It stands as a protector of property rights.”
Alan Greenspan

“Higher education is the place where people who had big plans in high school get stuck in fierce rivalries with equally smart peers over conventional careers like management consulting and investment banking.

For the privilege of being turned into conformists, students (or their families) pay hundreds of thousands of dollars in skyrocketing tuition that continues to outpace inflation.

Why are we doing this to ourselves?”
Peter Thiel

Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
Murray Rothbard

“Inflation, being a fraudulent invasion of property, could not take place on the free market.”
Murray Rothbard

“No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon.

Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.”
Milton Friedman

“The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game.

The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about ‘Inflation,’ for which virtually everyone else in society seems to be responsible.

What we are seeing is the old ploy by the robber who starts shouting ‘Stop, thief!’ and runs down the street pointing ahead at others.”
Murray Rothbard

“I think democracies are prone to inflation because politicians will naturally spend [excessively] – they have the power to print money and will use money to get votes.

If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don’t set the record.

It happens over the long-term under any form of government.”
Charlie Munger

“Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., Inflation.

The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, Protracted Inflation.”
Ludwig von Mises

“Inflation is essentially antidemocratic.”
Ludwig von Mises

“Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.”
Ludwig von Mises

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
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Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Running bitcoin – Hal Finney

Join Honorary Chair Fran Finney and the Running Bitcoin Challenge Committee as we honor legendary cypher punk, Hal Finney.

This is THE EVENT that combines Hal Finney’s love of running and Bitcoin and is raising funds and awareness to help defeat ALS, which ultimately claimed his life in 2014.

You are challenged to run (or walk, roll, or hike) the equivalent of a half marathon — cumulatively or all at once — by the end of January 10, 2023.

From wherever you are, spread the word about Bitcoin, participate in a healthy activity, feel good about doing your part to defeat ALS, and start the year off right

Hal Finney, one of the earliest bitcoin contributors, died eight years ago from complications of nervous system disease amyotrophic lateral sclerosis (ALS).

His spouse, Fran Finney, is now organizing a half marathon to raise funds for ALS research via bitcoin.

The “Running Bitcoin Challenge” is set to take place between Jan. 1 and Jan. 10. The timing of the occasion leads up to the anniversary of Hal Finney’s “Running bitcoin” tweet, in which Finney famously disclosed he was deploying a Bitcoin node.

There is no set location — participants can choose to join anywhere they wish. Players are encouraged to either run, walk, roll or hike the equivalent of a half marathon (Hal’s favorite distance) either in one go or over the entire 10-day period.

Donors contributing at least $100 will receive an official shirt with the half marathon’s logo, while the event’s top 25 fundraisers will get a Hal Finney collectible signed by his wife.

As of Wednesday morning, the event has already managed to secure nearly $10,000 in bitcoin donations.

An advocate of cryptography and digital privacy, Finney was the recipient of the first-ever bitcoin transfer from the network’s pseudonymous creator Satoshi Nakamoto.

The bitcoin community often suspected Finney was Nakamoto, a claim he consistently denied. He reportedly found out about his condition in 2009 and decided to move away from the project.

Hal’s name is high in the Bitcoin pantheon as one of the first people to voice support for Satoshi Nakamoto’s invention and for being the first person to receive a Bitcoin transaction from Satoshi.

He was, for a time, considered one of the top contenders on the list of potential Satoshis himself (many in blockchain who reject Dr. Craig Wright’s statements still falsely believe Finney to be Bitcoin’s real creator).

Hal, who referred to himself as a “cypherpunk,” was a cryptographic activist who went from developing video games to working on the Pretty Good Privacy (PGP) project in the 1990s. He described his PGP work as “dedicated to the goal of making Big Brother obsolete.”

PGP creator Phil Zimmerman hired Hal as his first employee when PGP became PGP Corporation in the early 2000s. He described Hal as a “gregarious man” who loved skiing and long-distance running.

Despite gradual paralysis that eventually forced him to stop working, Hal continued to code software and follow the Bitcoin project.

Almost as famous as his 2009 tweet is his “Bitcoin and me” post on BitcoinTalk.org in March 2013, the last he’d ever make.

It’s a long post, and Hal was “essentially paralyzed” at the time, using an eye tracker to type. Forum stats show the post has been read over 278,000 times.

“When Satoshi announced the first release of the software, I grabbed it right away,” he wrote. “I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction when Satoshi sent ten coins to me as a test.

I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them.”

Hal himself always denied being Satoshi Nakamoto, adding later that he’d sold most of the Bitcoins he mined (at pre-2014 prices) to pay for his treatments. He also mentioned putting some in a safe deposit box for his children.

“And, of course, the price gyrations of bitcoins are entertaining to me.

I have skin in the game.

But I came by my bitcoins through luck, with little credit to me.

I lived through the crash of 2011.

So I’ve seen it before.

Easy come, easy go.”
Hal Finney

www.runningbitcoin.us

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
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To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

4th Year WordPress Anniversary

It’s been 4 years already and it seems I haven’t done nothing at all… With the little time I could spare to work on this blog, I hope I bought a tiny seed of knowledge into your 🧠zz my dear readers 😁🙂😉😋

I will try the best of my abilities to continue the work on the blog !

Untill then dear readers never forget :

Let’s find the courage and strenght, if not for us then for Them… the Future Generations that are to come after us and Go…

And let Us All …

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Happy Genesis Block Day

January 3rd 2023 – Bitcoin 14th Anniversary

Happy Genesis Block Day! January 3 is the 14th anniversary of Bitcoin’s Block Zero, its anchor in time.

The first sentence of the email has become iconic among the Bitcoin community:

“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”

On January 3, 2009, the genesis block of the Bitcoin blockchain was mined by its pseudonymous creator Satoshi Nakamoto, marking the first time in history that a completely digital and decentralized currency went online.

In the 14 years and three halvings since, Bitcoin has grown to become one of the most important financial instruments, clearly demonstrating that a non-central bank-controlled currency is capable of challenging the established monetary order.

That time, in 2009, was one of economic turmoil—and the aftershocks from that turmoil are still rocking our world in 2023.

The Genesis Block was never “mined” like every other Bitcoin block. That started with Block #1 when Satoshi Nakamoto released the software on SourceForge.

The hash from Block #0 was done with different software and hard-coded into the original Bitcoin protocol.

“Chancellor on brink of second bailout for banks” was the Times headline. Satoshi hid in the first block’s coinbase hash as a timestamp to prove there had been no mining on the Bitcoin network before he released the software to the public.

“The Chancellor will decide within weeks whether to pump billions more into the economy,” the original article in the Times said. In 2009 these seemed like desperate measures, and they were. Since 2009, though, governments across the Western world have indeed pumped billions, even trillions more, into their economies.

Satoshi was making a statement on irresponsible government interventions in the economy and their eventual erosion on markets.

“They actively sought to incentivise bad behaviour and push in typical Keynesian style the problem down the road. It would be a bigger problem, but it would be someone else’s problem.”

Just like the economy at large, Bitcoin is a long-term struggle against the worse aspects of human nature.

10 most important Bitcoin Milestones

Bitcoin has reached numerous major milestones and faced several considerable obstacles over its nearly decade-and-a-half-long history.

Here are 10 events that had the biggest impact on Bitcoin so far:

November 28, 2012: First Bitcoin halving
February 28, 2014: Mt. Gox, the biggest Bitcoin exchange at the time, files for bankruptcy
July 9, 2016: Second Bitcoin halving
August 1, 2017: Bitcoin Cash hard fork
May 11, 2020: Third Bitcoin halving
February 8, 2021: Tesla invests in Bitcoin
February 20, 2021: Bitcoin reaches $1 trillion market cap for the first time
September 7, 2021: El Salvador makes Bitcoin legal tender
November 14, 2021 – Taproot upgrade is activated
November 11, 2022: Major crypto exchange FTX files for bankruptcy

Bitcoin has never closed in the red zone 2 years in a row: Will the trend continue?

Bitcoin price decreased by over -60% over the span of the last 12 months. However, there is a strong bullish precedent in play that could spell a major trend reversal in the coming months.

For starters, Bitcoin has never closed in the negative two years in a row. Granted, there is a relatively short set of historical price data to work with.

However, roughly speaking, Bitcoin has operated on 3 years of growth followed by 1 year of market retracement periods, at least so far

For world-renowned charities such as Save the Children, the White aper and the subsequent creation of Bitcoin have benefited the organization.

Antonia Roupell, Web3 lead at Save the Children, told Cointelegraph that the organization recognizes “Bitcoin’s potential to be a force for good and a force for financial inclusion,” adding:

“On Bitcoin’s 14th anniversary, and at a time of increasingly global financial inequality, the phrase ‘bitcoin is for anyone’ really resonates.”

Sources:

https://cointelegraph.com/
https://medium.com/
https://coincodex.com/
https://coingeek.com/

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Beware of Scams !!!

Just as the crypto industry is expanding and getting local adoption from individuals, co-operations, organisations and few countries the same rate at which we have crypto enthusiast increasing in number which i see so worrisome and also a call for major concern.

Reason been that as more people get involved in the crypto business the more scammers are likely to increase their technique and the more scammers get recruited.

To avoid walking on scammers path, requires to be well informed of every new technique they can ever deploy against their potential victim.

To stay off scammers path users must:

Avoid phishing links.
Make sure to pay attention to the spelling of the website, as well as their URL as this can reveal whether it is a phishing site or not.
Never invest in a project without a well structured community
Pay close attention to the engagement within the community for suspicious activities
Ensure you assets are off CEX
Be more smart and less greedy
Don’t jump into a project/coin only based on the hype from advertisers (especially twitter)
Avoid any “too good to be true” investment
Avoid send me 1$ and I’ll send back 2$ scams, no matter how reputable is the account calling for that
Protect your coins (keep your coins on your wallet, use hardware wallet where possible, never give out wallet’s seed, keep backup seed offline)
Don’t be greedy and/or illiterate.
Be sure to feed yourself with necessary knowledge, if you want to invest.
Knowledge from experience is good but you can also take legitimate one from other people.
Not everything that is being offered to you is true. Do not be deceived.
Be careful who you are trusting.
Always be skeptical !!!
Enable Two-factor authentication for all your accounts.
Using of firewalls.
Installing an up to date anti virus software.
Use strong passwords and yet easily accessible ones for your convenience.
Stay away from malicious links or attachments you come across on the web.
Make sure your private keys are well stored and in hard wallet
Make sure your passwords are not vulnerable online to attacks i.e don’t store passwords online or any website
Whenever a stranger message you first for a business or an investment, it is a Red flag.
Someone who doesn’t know you would want you to make big money, another Red flag.
Whenever they introduce a” business opportunity” to you and then hasten you in order make you take a hasty decision it’s not genuine, they are trying their best to make you take a fast decision without telling your loved ones and friends who will discourage you.
It is safer to assume anyone you don’t know, communicating with you is a scammer until it is proven otherwise.
Read the whitepaper and research well of the company where you are going to invest because many scams are done by this method.
Check whether it is genuine or fake.
Scammers are constantly upgrading their scam methods and anyone can be the next target.
Loss doesn’t just happen due to an internal or intentional mistake, and when it does happen everyone has a similar sense of remorse and risks that are absolute consequences.
You’ll be fooled many times by those scammers that have maintained a well structured fake community.
They can hire those PRs and people talking inside their community to make it look like they’re a legit community.
As for their workers, they’ll just tell that they need engagement but the purpose of it, they’re not talking about it because that’s what the main purpose it.
And that’s to make it look genuine that they have real people inside the community. But in reality, it’s all fake people that they’ve hired just to make discussions all over their place.
It’s safe to say as well that it’s not just the crypto industry that is not safe for newbies, everything that talks about money is not safe for everyone.
Crypto is the latest thing and in the last 5 years it become so successful that scammers make this as their paradise as there are a lot of naive investors in the market.
Do your investigations, and don’t listen to influencers and believe them.
Think that this is your hard earn money so you need to be careful where you are going to invest it.
Don’t be Greedy.
Don’t jump on it like a hungry cow.
Don’t trust the sweet words they offer you. Most of them are too good to be true but they will always sound inviting to invest with.
Make a wall to not fully support them unless they have proven themselves worthy of that kind of respect.
Always be in doubt. That will be the shield that will protect you from being scammed.
Must simply assume that our coins are never really safe despite our best efforts, so it is important to always be on alert and protect our coins to the best of our ability.
Improve the security of your coins by an important margin by buying a hardware wallet, since they are very secure devices and they are relatively cheap, instead of risking storing our coins in our computers or at an exchange.
Always good to know how to make technical and fundamental analysis so that you can get specific information what is the situation of the projects you want to invest
Many projects are delivering a good testament, but they always ended into a scam , so we need to be smart enough and have a lot of preparation before investing or trading

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
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My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
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To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Seven common mistakes crypto investors and traders make

Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.

Investing in cryptocurrencies and digital assets is now easier than ever before. Online brokers, centralized exchanges and even decentralized exchanges give investors the flexibility to buy and sell tokens without going through a traditional financial institution and the hefty fees and commissions that come along with them.

Cryptocurrencies were designed to operate in a decentralized manner. This means that while they’re an innovative avenue for global peer-to-peer value transfers, there are no trusted authorities involved that can guarantee the security of your assets. Your losses are your responsibility once you take your digital assets into custody.

Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.

Losing your keys

Cryptocurrencies are built on blockchain technology, a form of distributed ledger technology that offers high levels of security for digital assets without the need for a centralized custodian. However, this puts the onus of protection on asset holders, and storing the cryptographic keys to your digital asset wallet safely is an integral part of this.

On the blockchain, digital transactions are created and signed using private keys, which act as a unique identifier to prevent unauthorized access to your cryptocurrency wallet. Unlike a password or a PIN, you cannot reset or recover your keys if you lose them. This makes it extremely important to keep your keys safe and secure, as losing them would mean losing access to all digital assets stored in that wallet.

Lost keys are among the most common mistakes that crypto investors make. According to a report from Chainalysis, of the 18.5 million Bitcoin (BTC) mined so far, over 20% has been lost to forgotten or misplaced keys.

Storing coins in online wallets

Centralized cryptocurrency exchanges are probably the easiest way for investors to get their hands on some cryptocurrencies. However, these exchanges do not give you access to the wallets holding the tokens, instead offering you a service similar to banks. While the user technically owns the coins stored on the platform, they are still held by the exchange, leaving them vulnerable to attacks on the platform and putting them at risk.

There have been many documented attacks on high-profile cryptocurrency exchanges that have led to millions of dollars worth of cryptocurrency stolen from these platforms. The most secure option to protect your assets against such risk is to store your cryptocurrencies offline, withdrawing assets to either a software or hardware wallet after purchase.

Not keeping a hard copy of your seed phrase

To generate a private key for your crypto wallet, you will be prompted to write down a seed phrase consisting of up to 24 randomly generated words in a specific order. If you ever lose access to your wallet, this seed phrase can be used to generate your private keys and access your cryptocurrencies.

Keeping a hard copy record, such as a printed document or a piece of paper with the seed phrase written on it, can help prevent needless losses from damaged hardware wallets, faulty digital storage systems, and more. Just like losing your private keys, traders have lost many a coin to crashed computers and corrupted hard drives.

Fat-finger error

A fat-finger error is when an investor accidentally enters a trade order that isn’t what they intended. One misplaced zero can lead to significant losses, and mistyping even a single decimal place can have considerable ramifications.

One instance of this fat-finger error was when the DeversiFi platform erroneously paid out a $24-million fee. Another unforgettable tale was when a highly sought-after Bored Ape nonfungible token was accidentally sold for $3,000 instead of $300,000.

Sending to the wrong address

Investors should take extreme care while sending digital assets to another person or wallet, as there is no way to retrieve them if they are sent to the wrong address. This mistake often happens when the sender isn’t paying attention while entering the wallet address. Transactions on the blockchain are irreversible, and unlike a bank, there are no customer support lines to help with the situation.

This kind of error can be fatal to an investment portfolio. Still, in a positive turn of events, Tether, the firm behind the world’s most popular stablecoin, recovered and returned $1 million worth of Tether (USDT) to a group of crypto traders who sent the funds to the wrong decentralized finance platform in 2020. However, this story is a drop in the ocean of examples where things don’t work out so well. Hodlers should be careful while dealing with digital asset transactions and take time to enter the details. Once you make a mistake, there’s no going back.

Over diversification

Diversification is crucial to building a resilient cryptocurrency portfolio, especially with the high volatility levels in the space. However, with the sheer number of options out there and the predominant thirst for outsized gains, cryptocurrency investors often end up over-diversifying their portfolios, which can have immense consequences.

Over-diversification can lead to an investor holding a large number of heavily underperforming assets, leading to significant losses. It’s vital to only diversify into cryptocurrencies where the fundamental value is clear and to have a strong understanding of the different types of assets and how they will likely perform in various market conditions.

Not setting up a stop-loss arrangement

A stop-loss is an order type that enables investors to sell a security only when the market reaches a specific price. Investors use this to prevent losing more money than they are willing to, ensuring they at least make back their initial investment.

In several cases, investors have experienced huge losses because of incorrectly setting up their stop losses before asset prices dropped. However, it’s also important to remember that stop-loss orders aren’t perfect and can sometimes fail to trigger a sale in the event of a large, sudden crash.

That being said, the importance of setting up stop losses to protect investments cannot be understated and can significantly help mitigate losses during a market downturn.

Crypto investing and trading is a risky business with no guarantees of success. Like any other form of trading, patience, caution and understanding can go a long way. Blockchain places the responsibility on the investor, so it’s crucial to take the time to figure out the various aspects of the market and learn from past mistakes before putting your money at risk.

Controlled Supply

“A fixed money supply, or a supply altered only in accord with objective and calculable criteria, is a necessary condition to a meaningful just price of money.”
Fr. Bernard W. Dempsey, S.J. (1903-1960)

In a centralized economy, currency is issued by a central bank at a rate that is supposed to match the growth of the amount of goods that are exchanged so that these goods can be traded with stable prices. The monetary base is controlled by a central bank. In the United States, the Fed increases the monetary base by issuing currency, increasing the amount banks have on reserve or by a process called Quantitative Easing.

In a fully decentralized monetary system, there is no central authority that regulates the monetary base. Instead, currency is created by the nodes of a peer-to-peer network.

The Bitcoin generation algorithm defines, in advance, how currency will be created and at what rate. Any currency that is generated by a malicious user that does not follow the rules will be rejected by the network and thus is worthless.

Currency with Finite Supply

Bitcoins are created each time a user discovers a new block. The rate of block creation is adjusted every 2016 blocks to aim for a constant two week adjustment period (equivalent to 6 per hour.)

The number of bitcoins generated per block is set to decrease geometrically, with a 50% reduction every 210,000 blocks, or approximately four years. The result is that the number of bitcoins in existence will not exceed slightly less than 21 million.

Speculated justifications for the unintuitive value “21 million” are that it matches a 4-year reward halving schedule; or the ultimate total number of Satoshis that will be mined is close to the maximum capacity of a 64-bit floating point number. Satoshi has never really justified or explained many of these constants.

Cumulated bitcoin supply

This decreasing-supply algorithm was chosen because it approximates the rate at which commodities like gold are mined. Users who use their computers to perform calculations to try and discover a block are thus called Miners.

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
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Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

₿uild a New Model…

“You never change things by fighting the existing reality.

To change something, build a new model that makes the existing model obsolete.”

Buckminster Fuller

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Seven common mistakes crypto investors and traders make

Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.

Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.