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4 Reasons You Should Always Have Bitcoins With You

4 Reasons You Should Always Have Bitcoins With You

Have you heard of Bitcoins before? I find that most of the time when I ask someone about Bitcoin, they’re either skeptical or unaware that it exists.

Believe me though, Bitcoin is the next big technological development on the Internet and will transform the world for better.

What is Bitcoin?

It is a digital currency, which is created and held electronically. No one controls it. It was developed by an unidentified programmer or programmers under the name of Satoshi Nakamoto.

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The peer-to-peer system operates on servers to make payments directly to users, without involving an intermediary.

Here’s why you should always have bitcoins with you:

1. Bitcoins are affordable

The first and the foremost reason to have bitcoins with you is the affordability or ease of use. No doubt, using Bitcoins provides convenience to almost everyone. Moreover, the Bitcoin network is a tad cheaper than bank transfers, credit cards and other conventional modes of banking.

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If you’re using the Bitcoin system for payments, you’ll be charged only very small transaction fees (much cheaper than banking or credit card fees!) and everyone has the right to use it.

Low transaction fees make them preferable currencies due to low cost and ease of use.

2. Bitcoin Might Help Us In Inflation

As we all know, inflation is increasing all over the globe and it could develop into a severe economic crisis sooner than the Federal Reserve or The Wall Street Journal warned. In such a tenuous situation, Bitcoins come in handy. They act as a deflationary system, meaning merely 21 million bitcoins will be circulated in the market.

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At present, approximately 13.5 million bitcoins are in circulation and the last bitcoin would become available in the year 2140. You might be wondering why 2140 will be the year for the last bitcoin to become available?

Circulated bitcoins cannot exceed the limit of 21 million due to a technical computing limitation so the price of a bitcoin is projected to increase as more euros and dollars flow into the system. A lot of people call bitcoin as a substitute for gold, naming it “Gold-2.0”.

3. Bitcoin – People’s Money

It’s a fact that the entire banking infrastructure all over the globe can be traced back to a small group of people making decisions and adjustments. In other words, you could say that all major finance-related decisions are in the hands of a couple of businesses, individuals of tremendously rich families, and establishments that own and control the majority of the money.

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Bitcoin is actually an infringement of these cartels, being publicly registered and consensus driven with free bitcoin cloud mining. It’s a decentralised cryptocurrency and the isn’t controlled by any single organization or institution. Bitcoin system seems to be a promising endeavor to take control of economies away from a handful of people making decisions, increasing stability and potentially prosperity.

4. Bitcoin Is Secure

Bitcoin and cryptocurrencies are secure. A lot of people are frightened by the intangibility of Bitcoins, however, they are very safe to use as they can’t be multiplied or counterfeited at will.

If someone wants to forge cryptocurrencies, they would have to hack the software present on a decentralised network running on hundreds of thousands of servers. A professional hacker can hack certain exchange websites, but Bitcoin itself can never be hacked. Dan Kaminsky – a renowned hacker and security expert tried hacking bitcoin network but got failed. To anyone’s knowledge so far, counterfeiting bitcoin is impossible.

Bitcoins are considered as future of currency and gradually it is taking over the traditional currencies. Though it may not have the government backing it is quickly becoming a recognized currency and may soon be used as normal currency.

Featured photo credit: Cointelegraph Bitcoin via cointelegraph.com

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Adnan Manzoor

Data Analyst & Life Coach

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Last Updated on June 25, 2019

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

Millionaires and billionaires read more than you think. In fact, the likes of Warren Buffet are said to read 1.000 pages a day. As the old saying goes “There’s no smoke without fire”; so, start off with these 5 incredible books!

1. The 48 Laws of Power

48-laws-of-power

    “If you are unsure of a course of action, do not attempt it. Your doubts and hesitations will infect your execution. Timidity is dangerous: Better to enter with boldness. Any mistakes you commit through audacity are easily corrected with more audacity. Everyone admires the bold; no one honors the timid.”

    On your journey to becoming a millionaire in your 20’s, there will be many people trying to manipulate you into doing what they want. This international bestseller by Robert Greene is the widely read by those in the entertainment industry because of its dog-eat-dog environment. This book is a must-read for anybody who wants to claim power and keep it. it’s a fun read that tells the story of some of the most powerful people in history.

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    An example of a law of power is: Always say less than necessary.

    • When trying to impress, the more you say the more common you look and less in control.
    • Be vague.
    • Powerful people impress and intimidate by saying less.

    2. Influence: The Psychology of Persuasion

    influence-the-psychology-of-persuasion

      “Often we don’t realize that our attitude toward something has been influenced by the number of times we have been exposed to it in the past.”

      This book explains the core strategies people use to influence others using real world examples. Robert Cialdini’s book goes over human quirks like the need to be consistent, and how you can use that in your marketing strategy to make more money. “People’s ability to understand the factors that affect their behaviour is surprisingly poor,” Cialdini says, “which leads to people making poor decisions without realising why.”

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      Cialdini includes real world examples of why people join cults, buy certain jewellery, or give to charity.

      3. Blue Ocean Strategy

      blue-ocean-strategy

        “Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value.”

        This book argues that leading companies don’t succeed by battling competitors in “Red Oceans”, but by creating “Blue Oceans” where they have uncontested market space to grow. It goes over case studies like “Cirque Du Soleil” who created a blue ocean by creating a circus platform that didn’t include animals or more than one act on at once but instead, decided to focus on talented performers and music who created a mystical storyline.

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        4. The Fountainhead

        the-fountainhead

          “A man’s spirit is himself. That entity which is his consciousness. To think, to feel, to judge, to act are functions of the ego.”

          The Fountainhead takes place in the United States, mostly in New York City, during the 1920s and 1930s. Billionaire Mark Cuban named his yacht “Fountainhead” after this book. This classic novel is about the struggles of an innovative architect named Howard Roark and his effort to achieve success on his own terms. Many entrepreneurs are inspired by this book because it depicts how you should be uncompromising when it comes to your vision and your goals. If you follow this way of life, you develop the ability to change the world and creating something unique.

          5. The Compound Effect

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          the-compound-effect

            “Do you know how the casinos make so much money in Vegas? Because they track every table, every winner, every hour. Why do Olympic trainers get paid top dollar? Because they track every workout, every calorie, and every micronutrient for their athletes. All winners are trackers.”

            This book is by Darren Hardy the CEO of Success Magazine, he goes over how it’s the small, seemingly insignificant choices that compound to create success or failure over time. No one has a plan to be broke and fat but that’s what happens when you don’t have a plan and go along the path of least resistance. Hardy argues that you cannot improve something until you measure it and to always take 100 percent responsibility for everything that happens to you.

            So, those are five books you must read if you want to give it a try to become a millionaire in your 20’s. What are the best books you have ever read? Leave a comment and share these life-changing books with your friends to help them become successful like you.

            Featured photo credit: Bill Gates Foundation via businessinsider.com

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