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Things To Know Before Investing In Cryptocurrency



In 2009 Bitcoin was less than a dollar.  You could have taken all of the money spent on fast food for the year and purchased some coins. Most Americans spend over $1500 dollars a year on fast food. So let’s just use that.  Today Bitcoin cost about $18,000 dollars per unit, so that means if you would have invested your fast food money you would have $27 million dollars worth of Bitcoins.

Those type of crazy numbers is why people are going crazy for Bitcoins and other cryptocurrencies. But before you mortgage your home and sell all of your possessions check out some things you need to know.

What Is Bitcoin?

Bitcoin is a type of cryptocurrency. defines cryptocurrency as “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.”

It might be useful to think of bitcoin as a digital currency that can be used to complete a transaction between two parties without involving a middleman. So in short person to person. It enables direct, private transactions between users, with virtually no transaction costs. So there are no atm fees, late fees, account fees, balance requirements, or bullshit overdraft charges.

Alt coins?

These are cryptocurrencies other than Bitcoin and there are hundreds of them. Anyone with the know-how can set up their own version of cryptocurrency as easy as most setup a social profile. But there are some outsiders like Monero, Ripple and Dash that have the potential to go far. Ethereum, which recently won backing from Microsoft and JP Morgan Chase, is up 900 per cent this year.

What’s The Risk?

Buying cryptocurrency comes with a lot of risks since there are no regulations. In a recent poll with, most economists believe that Bitcoin is on the bubble and will suffer a huge downturn.  The last time the US stock market fell by more than ten per cent in a day was back in 1957; Bitcoin has seen more than ten per cent wiped off its value 38 times since January 2012. A cryptocurrency could also be obliterated overnight. Should major governments regulate hard against it or hackers manage to break its security, that’s your money up in smoke. What’s more, criminals have been stealing from online wallets and since there are no regulations or anyone to fill a fraud charge with.

How Much Could You Make?

There is no right or wrong answer here. Forget about the hype machines or the doomsday preppers. The easiest way to think about it, only invests what you are willing to lose. Things on the don’t lose list should be your family, your livelihood, or your entire life savings.



Stop Burning Money With These 5 Rules For Personal Finance



Of course, everybody wants to be rich and have an endless source of money. When most people think about wealth, their immediate thoughts jump to the billionaire lifestyle. You have seen it before the mansions, expensive cars, jets, and the vaults of gold. But this view of finance is unhealthy and can be holding you back from maximizing your wealth.

Expert financial adviser Trent Hamm recently broke down 60 key principles of personal finance. We put together the top 5 rules that can help you overcome some of your financial pitfalls.

Spend less than you earn

If there is a single fundamental rule of personal finance, it’s this. You have to spend less than you earn and put away that difference for the future so that you can still survive and thrive when you’re older and don’t have the opportunities and energy of today. Without your earnings being greater than your expenses, you simply cannot achieve big financial goals without some sort of miracle – and you should never bet your future on a miracle.

Don’t ever let your “future self” take care of your current situation

Do you ever tell yourself that it’s okay to make a bad spending decision right now because you’ll earn more money down the road? That’s a giant mistake, one you’ll almost always regret for a long, long time. Sure, your future self might have more income, but it’s also fairly likely that your future self might have less income and you’ll find yourself in a really bad situation. Even if your future self is doing well, there are probably going to be other big expenses that you’ll want to deal with at that time, like buying a house.

Build a budget, just for the process of building it right

A budget can be a useful tool for keeping your spending on track, but the most valuable part of budgeting is actually the process of building a budget correctly. How does one do it correctly? You build a budget based on looking at your actual spending over the previous few months.

How much do you actually spend a month on food? Entertainment? Utilities? Your car? Get real numbers, not estimates. Dig through your bank statements and credit card statements and figure it out. This process will easily show you the areas where you actually overspend, while just following a “cookie cutter” budget doesn’t show you much of anything. It’s an excellent habit to get into, especially since professional security can be unpredictable, and you may find yourself looking for new employment.

Request rate reductions on your debts, especially credit card debts

If you owe any debts, it never hurts to look into the possibility of reducing your interest rates on those debts. For credit cards, it’s as easy as simply calling up your credit card company and asking for a reduction. For other bills, such as student loans, a consolidation can lower your interest rate. With your mortgage, a refinancing can reduce your rate dramatically.

Lowering interest rates can both reduce your monthly payments and reduce the total amount of interest that you pay over the life of a loan, so any reduction you can get is a good thing for your wallet.

Don’t worry about how other people spend their money, either

If you see someone driving an expensive car, don’t use that as an excuse to feel jealous or to tell yourself that you, too, need an expensive car. You don’t. Just because other people choose to buy things or eat at certain restaurants or whatever else people in your life choose to do with their money does not mean you need to do it too. Make choices and spend money on things that build up the things you care about, not the things other people care about.

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Jay Z Joining A Group Seeking Alternative To Incarceration



The American justice system is broken with over 2 million citizens in prison and over 4 million on parole. What does that mean, by those numbers the America has over 5% of the inmate population of the world.  There are activist groups that are fighting every day to help make a positive change. Jay Z has joined the new group behind the Promise app to do just that.

The app-based program Promise looks to combat these problems by to creating “a cost-effective and more humane alternative to incarceration.” Jay Z’s Roc Nation has been announced as an investor.​

“Promise will help government agencies support those who would otherwise be in custody or who are on some form of community supervision-namely probation or parole,” the program wrote in its press release.

“We are increasingly alarmed by the injustice in our criminal justice system,” Jay Z said in a statement. “Money, time and lives are wasted with the current policies. It’s time for an innovative and progressive technology that offers sustainable solutions to tough problems. Promise’s team, led by Phaedra, is building an app that can help provide ‘liberty and justice for all’ to millions.”

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Lfty Is Testing A Subscription Service



Lyft was to change the ride-sharing industry with subscription service.

The terms of the subscription models seem to vary, but appear targeted at users who spend up to $450 on ride-hailing a month. One all-access pass offered up to 30 standard Lyft rides for $199 a month, another was priced at $300, and another at $399 for 60 rides. Individual rides up to $15 were covered under the all-access pass. It wasn’t immediately clear how users would be charged for rides that exceed $15.

Lyft CEO Logan Green mentioned these subscription plans were the future of his company during a press event Wednesday to announce a partnership with auto parts producer Magna to build self-driving cars. “We are going to move the entire industry from one based on ownership to one based on subscription,” he said.

This could be attractive to some riders, but don’t expect the vast majority passengers to drop that amount.

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