Topic: Surviving in this economy needs a new minds set - page 10. (Read 2332 times)

How does bitcoin come into this and how is it going to improve the economic situation of your country. So many of you do not really understand what bitcoin is, it is not a panacea to the world's problems; it is just a decentralized currency that hasn't even been massively adopted around the world.

If you want a better economic situation for yourself, then your nation should elect good/competent leaders. Take your time to also better your own chances of success by learning new skills, taking up extra jobs and learning how to earn money from different sources.

Investment is not something that needs to be forced, meaning that someone can invest at any time in assets that have the potential to grow in value in the long term when they have the budget. Inflation causes financial instability, so of course this affects a person's interest in investing. If they have more than one source of income, then they can still invest as much as they can afford. However, someone who only has enough money to meet their living needs then they only need to invest when they have more money.

Bitcoin is simply a good choice as a long-term investment asset, but not everyone needs to choose bitcoin as long as they cannot afford the risk. Bitcoin is not for everyone, but it is only for those who can bear the risks of volatility and other things.

Inflation continues to go crazy, even in my country our local fiat continues to experience a decrease in the value of basic necessities, while salaries never increase, this is why now we have to live as economically as possible and also have as many sources of income as possible.

Bitcoin is an asset that has been proven to be immune to inflation, this is proven by the Covid 19 pandemic that occurred several years ago, I am sure there are many people who are currently trying hard to get out of poverty, but they have not yet found a way to achieve that, while most poor people are still pessimistic about Bitcoin.

You seems to be making a wrong generalization and I have to point out some of those. Making budget is what every government do all over the world and some country actually implement their budget for the benefit of their citizens while some countries fail to do same probably due to corruption. So, the effect of these two scenarios will not be the same and should be the reason for the mass migration of people to countries that are able to overcome the forces of wickedness and wanton corruption, to put their country and her citizens above their personal ambitions.

Cryptocurrency is surely a way out of hardship but it requires money to be able to invest in cryptocurrency. In addition, to make optimal benefit of cryptocurrency requires that it would have been built over the years and not just something to invest in today and expect the profits few days. There are other short term measures that can be employed to survive while building a cryptocurrency portfolio for the future.

We need to be more practical, unlike the usual thing we do. As inflation keeps on rising, the more we have to be aggressive in taking opportunities and adding sources of income. The government can't help us anymore which is why we should have to work on our own in order to survive.
Bitcoin investment is one of the best options this time. We aren't making money quickly but for sure that this could help us in the future. If we can spend $100 a day on nonsense stuff, it is not difficult for us to spend it on buying Bitcoin.
 - change our lifestyle and gain interest in multiplying our money

Op yes it's not a bad idea I can categorically say that investing in btc to move out if some unforseen circumstances in our environment and every day rise of inflation should non negotiable that an investor need venture into without negotiating with any who can course further distraction by bringing in some idea. That will slow down the process of investing if throughly the invest is focusing the investment on BTC and not shiltcoin.

There is no other solution to escape the economic breakdown by every day devaluation of fiat currency than using the crypto currency system like that if BTC which has allot of assurance despite being volatile still stand a good chance standing out above fiat when inflation hit the economy.

With the economy, and increasing inflation rate in my country it was really difficult to survive especially if you are just a minimum wage earning it was for sure going to be difficult just to survive because it is not enough at all, probably your just going to eat and barely pay the bills with your job, but not really to the point where you could eat and buy what you really wanted, I know a lot of people here in my country that is leaving that life to the point where they are already getting depressed, since they were just slave that is just working and working, not really gaining anything or investing anything in the end.

I mean you are actually right in my opinion, I personally have a realization about it, learning it the hard way, I have a full-time job that has low pay, it's above the minimum but still wasn't enough considering I'm just alone, I don't really pay rent, since Im still living with my family, and the bills are split to four people with my sisters, it was actually great, but considering that I barely have any investment and savings, If I'm going to imagine living alone paying rent and bills I don't think I could even survive with my job. So I realize a lot of things through the years, and I learn a lot of it, from an advisor, that actually changes my mindset. I started investing a lot for my future, probably doing to some rules, one thing that struck me was when I heard the quote, Do not buy anything that you can't afford, which is actually true for a lot of people we tend to buy things that we can't really buy, then just end up paying the price for it.

One youtube also make me realize what you can do in just a short amount of time if you are just going to put up your one hundred percent because a lot of people are just getting there time wasted on social media probably a few hours and just on phone scrolling, but if you just put that extra hour on something that could make you an income it is going to make a difference. If you want to make a difference to something stop being lazy and grind every hour. If you are making 20$, and put up the extra hour you might get 10$ extra.

They keep promising, but the results never match. Always the same cycle. Here we are, despite promises of improvement. Survival requires adaptation. The government has a strategy and enormous budgets, but inflation cuts everything. Every year, your hard-earned money depreciates. You have the right idea. We need new thinking, and Bitcoin helps.

Bitcoin's money philosophy is distinct. Its worth isn't affected by the economy or bad government actions. You own it. You run it, not a dubious bank. The topic is freedom, guy. Protecting oneself and constructing a future independent of others is wise and the only path forward in today's environment.

Mindset should be positive, and you have to believed that you can survived in this economy. And there are ways, like saving and investing your money for the future. Specially if you have a family, you really have to understand how to play your money well. So let's say you received your pay or your income, you have to budget everything that at the end of the day, you still have some for you as a investment and crypto is the way to go. And if we have a positive mindset, you can achieved or unlock everything. It's just reprogramming you subconscious, alter your thoughts and habits and you will be good in the long run.

But what is good thinking and what is a good plan? To me, how to bring good results is the most important thing and deserves the most attention, not a good plan because planning and implementing it are two completely different things. It's easy to say but not as easy to do as we say. So don't exaggerate things to an unnecessary level, we don't need new thinking, we just need to try to adapt to social change.

In addition, I do not agree with the OP that to invest in bitcoin, we must need a new mindset, investment has existed for hundreds of years and bitcoin is no longer a strange asset to us, it has existed for more than 15 years.

The economy has turned in ways no one would have imagined it possible or could possibly be prepared for but, you owe yourself your survival through these trying times. It doesn’t matter what the government might have planned or proposed on paper as, these does not constitute all there is which could result in the failure or success of a budget. Mostly, the human elements as per government looters aren’t taken into account in these budgets as, it’s an element that ought not to be but, they remain an integral part to the failure or success of a budget. It would be ridiculous to have corrupt officials consideration in a budget system but, these corrupt guys within the ranks of government have made governance uneasy and the life’s of its people difficult.

To survive, you need to employ a lot of strategy which could result in having to cut cost and increasing your streams of income as well.

By having a good mindset, of course it will be very good in making good plans because without a good mindset, of course it will be impossible to have a good plan. It is true that to be able to invest, of course you have to have a source of income that you can get. savings so that we can invest because without a source of income it will be very impossible to be able to invest because of course they have to think about their own needs first, so it is important for everyone who has the desire to invest that they have to have a good mindset so they can develop themselves in a better direction than before.

I think investing is also one of the solutions to survive and overcome these difficult economic times, but it is not the only solution. Depending on each person's circumstances and economic conditions, we have solutions that suit us. If we already have a stable source of income and want to increase our income, investing is an option, but if we do not have a stable source of income, we should think about working a part-time job to increase our income.

I agree with you that many people cannot afford to invest but poor people should consider investing if they have some savings in the future. I think investing is the best solution for poor people to have a chance to rise up in society, just like how most of us invest in bitcoin because of that hope.

People nowadays should eliminates the thoughts that they can only earn money on traditional ways. People need to adopt the current changes and trends since to many new methods has been introduce that's why its good for people to adopt so they can survive on harsh economic condition of the world. Sometimes its hard to learn or find ways where to start but if people is eager to learn and spend their energy to more valuable things like getting a lot of knowledge on what are those important thing to know for sure that everyone is happy and gaining on their investments or new job take from their online ventures. People just need to be open minded and have critical thinking since for sure everything might not hard as they think if they know how to adopt on each situations.

OP, how would one invest when he has not survive himself? The only persons whoa re capable of investing in this company are those who have the money to fed for themselves completely in a month without debt and have little emergency savings. There are people in the world today who barely afford their rent, eat 3 square meal a day to mention a few. My concern here is that these set of persons cannot invest so investment should not be a solution on how to survive in this hard economy.

The solution to this is for them to find a skill, start a business and with time they should diversify their income flows from different sources. It might be difficult in the beginning but it wont take them more than a year to balance in that business. Another thing is multitasking, i think they have be involved in several things so that they can gather money from different sources to start a business.

A better mindset would have to be functional following a good plan, else, it's just a wishful thinking.
For investments in Bitcoin, when one has a source of income and can occasionally set aside some funds to follow a plan, the mindset of such an investor would have been reprogrammed to better produce results that fit the plan and ideal goal in mind.
Another thing also is that mindset shift can be a result of affirmations that can influence ones energy and thus manifest results in the direction one tends for it happen.

Exactly, we have to consider the financial condition we have before entering and putting a lot of money in bitcoin, bitcoin has price movements that are not easy to predict, therefore if we enter to buy bitcoin at a high price, for example we enter and buy bitcoin when the price is $70 k and currently the price of bitcoin has collapsed at $58k and we use money that will immediately be used for certain needs, it will make our lives depressed and uneasy because our assets are stuck at high prices.

Well yes, investment would be an option however not all people has the financial capacity to prioritize engaging to investments given that risks are present and that they won't afford the tendency of loss. Personally, best option I guess is to seek for part time or secondary jobs in order to cope up with the increase on the price of marketable goods and services. Not only that you would be able to afford paying those bills but could also create enough margin for savings or investment opportunities. What to do? You may learn new skills that could make other people pay you such as video editing and the likes,well ofcourse not all people are that in line with technology but for sure there are other services an individual could learn and make use of it for extra income. This is not representative to all people due to circumstances but that's something I guess no one has control of.. Another solution is for governments to increase the average salary rate but we all know what is actually happening on this aspect.

Am happy for you having come to the realization that change begins from the a mindset that is attuned to and receptive to it. Still, before one can consider investment in Bitcoin for good return, he/she must first strive to and already have a source of income that can make the dream work.
Also, one thing is that, with responsibility and family or dependants to look out for, comes a mindset shift that may be and is expected to be a positive reinforcement in all aspects of one's life.

Hoping on the promises of the government is a total waste of time since in some cases they are political statements. In some corrupt nations, these budgets are just documents that are never implemented but are used to steal from the people. I have stopped listening to budget presentations by our political leaders because they are filled with empty promises and can lead to frustration.

Creative thinking is a must to survive in this current harsh economy. Relying only on a single source of income might not be able to sustain an individual and family. Seeking other sources of income is now a must for low-income earners due to the high cost of goods and services. Learning a new skill that can assist one secure a part-time job or starting a business are all good sources of additional income. Setting some amount of funds as savings is also important because it could help in investing in viable coins like Bitcoin.