No matter who you are. No matter how old you are. It is vital for any person looking for Success, to always remain informed and educated about new & upcoming Technology, especially when it relates to finance or economics.
Before we dive into this Hot Trending Topic, lets discuss a few Basics.
Economic Basics 101
Perhaps you have some disposable income each month from your Frugal efforts. That is the hope, as most of us would like to achieve some financial independence, perhaps to leave a job, cut back or retire.
What are the options for Investing?
- Banking: Basic Savings, Checking, Money Market or CD's.
- US Savings Bonds.
- Real Estate.
- Investments. IRA's or 401k.
- Stocks.
- Commodities.
Is it working for you? Please leave your comments in the section below as this is an ongoing Topic among us Frugal Lifestylers.
Hot New Trends
Well, Crypto Currency is actually NOT a New Trend. It's been around for over a decade. But what is TRENDING is the Topic of Bitcoin and new Coins coming out everyday. We've seen Growth. Dips & Dives just as in the Stock Market. Bulls, Bears. Some of us who have been fortunate do not have to worry about these Terms as we have Long Term Investment Strategies and leave our Faith in our 401k Portfolio Managers. If you have a steady Job, you most probably already have one of these set up. if not, save yourself the headache and get one now.
But for the rest of us who may only have $25 or $100 month to spare. Rather than throwing it in a Savings Account to yield that almighty $.01 cent Interest, we've turned our interest into learning more about Crypto Currency and the Block Chain.
Crypto is a Market that Averages 26% Growth, and predicted to Grow as Follows:
2.5 Billion Industry in 2016
19.9 Billion Industry by 2025
3.1 Trillion Industry by 2030
Old Dinosaurs
The reason for this Growth? Millenials take chances. The Technology has lasted through time & has Grown, leaving Old Dinosaurs to wake up and start paying attention.
Crypto has entered into Everyday Payment Systems.
Not only that, but Government Systems are switching over.
Does that mean we are headed to a Universal Currency? Perhaps. Somewhere far far in the Future.
What is being embraced more than ever NOW is the Block Chain System.
What is Block Chain?
In it's simplest form Blockchain is just a distributed, secure database. According to Wiki A block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash). By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".
Yeah, we know. You're not a Financial Expert nor Computer Programmer, so this doesn't make any sense at all, right? We Agree.
That's why we've taken this opportunity to learn about this stuff ourselves, too.
Regardless of how the information is structured or recorded online, the important thing to KNOW is that the Data is secure. No, it is not secured by the Government or FDIC, but the personal data is secure & each Block represents a trackable transaction. Because of this, many Industries & Corporations are building on it. Now, come on. Everyone knows what a Transaction Is, right?
2019 Block Chain Predictions
Block Chain IS here to stay. However, the terminology is likely to change.
Why? The law of averages. Everything we do is based on Supply and Demand. The more people talk about Crypto, the more people want to get involved in it. Predators arise. Shit Coins are created & given out freely. The Block Chain has a bad reputation.
The people & companies picking up on the Technology are going with "Distributed Ledger Technology (DLT)".
It pushes away from blockchain's associations with the Wild Wild West of cyptocurrencies and initial coin offerings and gearing in the direction of recorded transactions.
So, what does all this mean to you and your meager $100 ready to invest or just splurge on that new pair of sneakers you been eyeing up?
Our recommendation:
- Hang onto your money (for now).
- Start educating yourself. Read these informative articles we used as reference.
https://www.ciodive.com/news/forrester-blockchain-is-out-distributed-ledger-technology-is-in/541852/
https://www.influencive.com/7-predictions-blockchain-technology-2018/
Try it out for Free. You can first download a Chrome extension & start earning Bitcoin. Bitcoin is not a #shitcoin. It has value and you can earn just by continuing to use your Chrome Browser as you normally would.https://get.cryptobrowser.site/3819063
Try a new Social Media format. Follow us & any other of your favorite Bloggers. Then you get paid for Liking, Sharing or Commenting. Just being there is a learning experience & maybe by the time 2020 rolls around, you'll have enough experience under your belt to start playing with your Wallet & add that $25, $50 or $100 for a 26% Increase!
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