Topic: How too get rich - page 257. (Read 414958 times)

I can't think of a single person that got rich working "hard". Working hard means putting tons of hours into something repetitive without taking risks. Working smart is not working as many hours and taking risks (previously having researched what you are doing). Of course there always exceptions but that is the general rule.

Exactly. Working smart is always better than working hard. The synthesis of both of them will be even better. But the essential thing here is to value success more than money. Money will come and go. success is always followed by money, (professionally speaking) . Rather than spending your entire lifetime buying or developing time machine , spend your years , working hard and smart on the right things.

Nope, no way. 'Almost two-thirds of the world’s 946 billionaires made their fortunes from scratch, relying on grit and determination, and not good genes.' And that's from forbes.. you want some examples? The most famous billionaire dropout is Microsoft’s Bill Gates, who finally got his honorary degree from Harvard University in June, 30 years after quitting the prestigious school to sell software. CREATED A FUCKING EMPIRE NOW :O

People don't become rich, they are born rich.
Just ask Warren Buffett 

It is one of the simplest financial instruments imaginable. You make a deal with someone to buy (or sell) a bitcoin for delivery some time in the future. Nothing is paid initially. As time goes, you can sell the contract to the original partner, or someone else, on the market, thus clearing the deal.

It resembles when you go to a store, to buy a car in the future (may be because the car factory produces cars in just-in-time fashion). You write a contract to buy the specific car, and the dealer commits to a certain price. If the price of the car changes in the mean time, due to foreign exchange or whatever, the value of the contract also changes (but in the case of the car, you do not normally resell the contract).

If you want to lock a bitcoin to a certain dollar amount (maybe because you sold something for a future bitcoin payment and want to avoid losing dollars before you get the bitcoin), you sell a forward. When you get your coin, it may have lost value, but your forward has gained value, the value gained is about the same as the value lost.If it appreciates, you lose the appreciation. but the point in this case was to lock in the price.

If you believe bitcoin appreciates, but have no more dollars, you can buy a forward, and sell the contract when it has risen. In this case, you risk to lose value if it falls, corresponding to the price agreed for the contract minus the current forward price. In this case you represent the insurance for the one who wants to lock in. (you can also sell forwards to speculate in a fall in bitcoin price).

Since there is a risk of loss, you have to place some collateral in the form of bitcoins at the site. There are also trading fees.

The difference to an option, is that there is no strike price, so you either win or lose depending on the price fluctuations. (The lock in in the example results from the sum of buying back the forward and selling a coin).

Anyway, you can go to cryptofacilities.com and read the help pages. It is probably explained even better. I am sure other sites have something like it.
 

#255
Barry Sternlicht: Study outliers rather than eliminate them. You can learn everything there
is to know about the industry or the player  from the company that  is performing better or worse.

if there is one thing I've learned is that there is always more opportunity down the road

We just had another demonstration with LTC in how to get rich.
1) Hold something that is starting to look dead and cheap as hell
2) Pray St Satoshi that it gets a good pump
3) Hold during the pump and pray again at St Satoshi that you dump at the top

It seems this opportunity already sailed, unless you want to gamble and think that LTC will go back to the last ATH..

That is impossible obviously but let us suppose that it does happen , even then it would be reversal as you went to the past  you will change the future also and there is a chance that you will destroy the whole system of bitcoins .

Yes and this is the best time to invest and getting rich totally depends on you that how you work or handle the situation. You cannot build a rome in a single day and working hard would not make any difference. So it is better to work smart to get rich,richer,richest.

Not really, everyone that bought pre 2013 for a decent amount became millionaires overnight. Well not overnight technically as they had to hold for 2 to 3 years, but they literally woke up the next day with millions.
Becoming a millionaire is all about odds.
Who has more odds to become a millionaire in 20 years, someone that is a wage slave and works hard saving it all on dollars, or someone that is saving a bit of BTC monthly for the future and holds those 20 years?

One at least has odds, and if he is lucky, he will become a millionaire. The guy just working and saving will get nowhere.

Maybe somebody  can receive some big donation and get rich suddenly, or What about be an famous singer.

if you want a stable future in bitcoin, you have to invest in it. according to me bitcoin has scpoe of development. and you cannot become rich or millionaire overnight. you will have to work your way though, do struggle, hardwork then some fine day might come when you will have 15 exotic cars in your parking lot. and that day you can call yourself rich :p

Not bad idea, but it will be hard to get rich in that way. But we can relax if lose, because too depend on this way to make us rich. I think the best way is make an online gambling site.

Well can you give me some bucks then?  

Dont worry so much about getting rich, its nice to have funds to do things but dont spend all your youth worrying about getting every single bit of money you can.  Chill out work reasonably hard but dont kill yourself. Just enjoy yourself and be socially responsible, the rest falls into place if you are lucky.

I think you can not overnight to become rich, you need a lot of money to invest to it later returned. Also, one needs to be very smart, although it has a lot of luck to become rich. I think with Bitcoin to be made, but not a lot of money.

I have an inspirational quote
"Being rich isn't about how much you have, but it's about how much you give"

Can someone please explain to me what a forwards is?

We all fantasize about this.  'If only I knew about Bitcoin in 2009, I would have...'

Here's a better use of your time so that one day in the future you can look back and say 'I'm so glad I did that'.

• Setup an account with a Bitcoin broker to buy $10 worth of Bitcoin every 2 weeks for the rest of your working life (~40 years if you start at 25 years old).
  
• If you desire, move those coins each month to a secured wallet using an API and script.
  
• Set and forget.
  

It only takes a few moments to get this going and in 40 years, you should be quite wealthy.

http://www.forbes.com/sites/janetnovack/2013/11/27/365-ways-to-get-rich/

#27, buy bitcoin.