Items in italics are direct quotes from the articles below
There isn’t one single path to wealth. “I think it’s possible to have a million dollars in the bank even if you’re not an entrepreneur,” said billionaire “Shark Tank” investor Mark Cuban in a new interview with MONEY and Spanx founder Sara Blakely. “There are a lot of strategies for people who work their way up the corporate ladder, or even bounce from job to job.” While there isn’t a singular job or investment that will guarantee wealth, Cuban says, there is one trait that will definitely help you get there: Discipline. The Dallas Mavericks owner said the 1988 book “Cashing in on the American Dream: How to Retire at 35” by Paul Terhorst helped him develop discipline around saving and spending money. “The whole premise of the book was that if you could save up $1 million and live like a student, you could retire. But you would have to have the discipline of saving,” he said. In his book, Terhorst advises savers to dramatically reduce housing costs and forgo luxuries like fancy cars and vacations, even if you can technically afford it. Cuban’s strategy for savings a lot of cash was through living frugally. Along with his discipline, he looked to take risks. “Part of the risk is maybe putting money into a low-cost mutual fund,” he said. “Or invest in your education — whatever it may be to help you get to the point where you can truly save money.” Keep in mind that a get-rich formula, and luck will not lead to a seven-figure net worth or early retirement. The key strategy is living below your means, and having a strategy for the extra income. Some key points to remember is that Mark Cuban became a millionaire at 32 after selling his first company and became a billionaire with the selling of his second company in less than a decade later. If you want to attain that high net worth then consider building an asset high enough to sell it. Concentrate on keeping your job to pay your living expenses and consumer debt, and focus on building passive income generating assets.
Since its advent in January 2009, Bitcoin’s presence in the world has increased quite dramatically. Conceived as a cryptocurrency and digital payment system, it is also beginning to take on a more physical form. The decentralized governance of Bitcoin is one the main attractions among people who are skeptical about the efficiency and fairness of a central bank. Now, with several thousands of merchants and vendors accepting payments in bitcoins and ATMs popping up, Bitcoin is quickly becoming an influencing economic force as well in various nations. So, here are some amazing facts about Bitcoin that we are sure you would enjoy reading about. The ten facts are:
The founder of Bitcoin is someone known as “Satoshi Nakamoto.” No one knows who he is, what his real name is, or where he lives. As of 2017, he owns up to one million bitcoins which have an estimated value of $2.7 billion
The first real-world transaction using Bitcoin was done to purchase two large, Papa John’s pizzas for 10,000 bitcoins. As of August 2017, that amount is now worth $27 million.
Unlike what most people think, bitcoins are not unlimited. The number of bitcoins in circulation will never exceed 21 million
The global Bitcoin computing power is 256 times faster than that of top 500 supercomputers combined!
Bitcoin has been sent into outer space.
Bitcoin uses a public ledger called “block chain” for transactions. The invention of block chain made Bitcoin the first digital currency to solve the problem of double spending, an error in digital cash which allows the same token to be spent twice or more.
If you had invested $100 in Bitcoin in 2010, you’d be worth $72 million now.
The largest transaction ever made on the network was for 194,993 bitcoins. That was more than $147 million according to the effective rate in November 2013. The transaction was tagged “Sh*t Load of Money!”
Every bitcoin transaction, no matter how small, uses at least enough electricity to power three average homes for an entire day.
The FBI has the world’s largest Bitcoin wallets consisting seized bitcoins, apart from Satoshi Nakamoto.
These facts are as of the writing of this article. Personally, I’ve started investing in cryptocurrencies. I believe that our world is shifting into a digital world, and the next shift is within currencies. Keep an eye on Ethereum and specifically the concept of smart contracts.
This week, I’ve included THE PSYCHOLOGY OF GREATNESS – 2017 Motivational Video from the Basquiat Picasso YouTube channel.
“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”
Proverbs 28:26 MSG