Sunday, 22 November 2015
Signs that you are a Natural Entrepreneur
A study published in the journal Development Psychology found that disobedient children earn more as adults and are also more likely to be entrepreneurs. Researchers from the University of Luxembourg, the University of Illinois and the Free University of Berlin tracked a group of 745 people over 40 years – from the age of 12 to the age of 52. They found that if you were a rule breaker and defiant of your parents as a child, you took those traits into adulthood – and they helped you to succeed.
Researchers also concluded that "rule-breaking and defiance of parental authority" was the best predictor of which students ended up making higher incomes. They admitted that this was a "surprising finding" and said that there were reasons to be cautious of it. But they did float a few theories on why this might be the case. "We might assume that students who scored high on this scale might earn a higher income because they are more willing to be more demanding during critical junctures such as when negotiating salaries or raises," they wrote.
This is the World's Most Expensive Bible
The Gutenberg Bible. There are 48 Gutenberg Bibles left of the original 180 believed to have been produced. They were printed in 1456 and were the first books produced with moveable type. A copy sold in 1987 for $4.9 million at Christie's New York.
Saturday, 21 November 2015
TRUE OR FALSE
Rich people believe poverty is the root of all evil
… while average people think money is the root of all evil.
The Wealthy/Rich never Compare themselves to anyone
"When you are content to be simply yourself and don't compare or compete,
everybody will respect you."
Lao Tzu
everybody will respect you."
Lao Tzu
Hi!
One destructive habit is to constantly compare your life and yourself to other
people and their lives.
people and their lives.
You compare cars, houses, jobs, shoes, money, relationships, social popularity
and so on.
and so on.
And at the end of the day you create a lot of negative feelings within. And perhaps
also outside of yourself.
also outside of yourself.
But how can you stop doing it? Or at least get control of it and use it in a better
way? Well, here are five tips that have helped me.
1. Be kind.
The way you behave and think towards others seems to have a big, big effect on
how you behave towards yourself and think about yourself.
how you behave towards yourself and think about yourself.
Judge people more and you tend to judge yourself more. Be more kind to other
people and help them and you tend to be more kind and helpful to yourself.
people and help them and you tend to be more kind and helpful to yourself.
A bit counter intuitive perhaps, but that has been my experience. The more you
love other people, the more your love yourself.
love other people, the more your love yourself.
So focus your mind on helping people and being kind. This is very helpful to move
away from judging yourself and others so much. And instead focus on the positive
things in yourself and the people around you.
away from judging yourself and others so much. And instead focus on the positive
things in yourself and the people around you.
You become more OK with yourself and the people in your world instead of
ranking them and yourself and creating differences in your mind.
ranking them and yourself and creating differences in your mind.
You are OK and so are they.
2. Don't fall into the trap of hero worship.
When you start to make myths out of people - even though they may have
produced extraordinary results - you run the risk of becoming disconnected from
produced extraordinary results - you run the risk of becoming disconnected from
them.
You can start to feel like you could never achieve similar things that they did
because they are so very different. So it's important to keep in mind that everyone
is just a human being no matter who they are.
because they are so very different. So it's important to keep in mind that everyone
is just a human being no matter who they are.
When you have some heroes you are likely to think more about the opposite too.
And place people into neat and tidy folders. You may create villain-like images of
people in your world.
And place people into neat and tidy folders. You may create villain-like images of
people in your world.
But in truth, things can be kinda messy. Putting someone on a pedestal or making
a villain out of them create barriers in your head and life. It may give you a sense
of being right. But it can hold you back from positive experiences too.
a villain out of them create barriers in your head and life. It may give you a sense
of being right. But it can hold you back from positive experiences too.
Openness is in the long run more fun than being judgmental.
3. Just realize that you can't win.
Just consciously realizing this can be helpful. No matter what you do you can
pretty much always find someone else in the world that has more than you or are
pretty much always find someone else in the world that has more than you or are
better than you at something.
Yes, you may feel good for a while when you get a nicer car than you neighbor. But
a week or two later you'll see someone from the next block with an even finer car
than yours.
a week or two later you'll see someone from the next block with an even finer car
than yours.
4. Give up both sides of comparing.
If you can't stop doing the negative comparisons then stop doing them both.
Because if you're in the headspace where you compare to feel better about
yourself then it's hard to stop it and not also start to compare in way that make
you feel worse and inferior.
yourself then it's hard to stop it and not also start to compare in way that make
you feel worse and inferior.
So you may need to step out of that whole comparing habit because the two sides
are often connected. Give up the upside to be able to move away from the
downside.
are often connected. Give up the upside to be able to move away from the
downside.
5. Compare yourself to yourself.
Instead of comparing yourself to other people create the habit of comparing
yourself to yourself. See how much you have grown, what you have achieved and
what progress you have made towards your goals.
yourself to yourself. See how much you have grown, what you have achieved and
what progress you have made towards your goals.
This habit has the benefit of creating gratitude, appreciation and kindness
towards yourself as you observe how far you have come, the obstacles you have
overcome and the good stuff you have done. You feel good about yourself without
having to think less of other people.
towards yourself as you observe how far you have come, the obstacles you have
overcome and the good stuff you have done. You feel good about yourself without
having to think less of other people.
Have a great and self-kind day!
Words courtesy of; positivityblog.com
Is It Too Late to Make Money from Bitcoin this Year? and some things you may need to know about Bitcoin
Is It Too Late to Make Money from Bitcoin this Year?
Investing in Bitcoin, a new peer to peer, decentralized digital currency, made a lot of people a hell of a lot of money in 2013. The price of a the coins rocketed from $60 to over $1000 in just a few months, although it has now fallen back down into the $900-range. Some of the people in these overnight success-stories didn't even need to buy their Bitcoins, because the coins can be 'mined' using the processing power of their own computers.
The days of becoming a Bitcoin millionaire virtually overnight with little-to-no investment have certainly passed, but that doesn't mean there isn't still money to be made.
Investing in Bitcoin is a pretty risky business, so you should only use a relatively small amount of capital that you can afford to lose entirely if things go badly. But these high risks could also come with high rewards.
You can still make money from mining coins, from buying and holding them, or from trading them on the financial markets.
Challenges Facing Bitcoin Markets
- In 2014, Mt. Gox, the most popular Bitcoin exchange, filed for bankruptcy after being hacked, losing around 850,000 coins. Since then, the market has more or less recovered, but the future of Bitcoin will depend on ensuring investors' trust and security.
- Cryptocurrency is still largely unregulated. If governments or regulatory bodies change this, they could make a big dent in the current values. We've seen this happen before, when the price dropped overnight after the Chinese government introduced trading restrictions in 2013, and could easily happen again, multiple times or on a larger scale.
- Although it has been enthusiastically adopted by geeks and speculators, the general public is yet to buy into cryptocurrency on a large scale. The ecosystem of apps and services surrounding the currency will have to demonstrate some movement towards making it more user-friendly for the not-so-technically-adept to justify its valuation.
- There is now a wide range of alternative digital currencies that compete with Bitcoin. None have proved to be a major challenge so far, but it could be in the future.
- A lot of hackers are interested in Bitcoin. Wallet-stealing is already something of a threat for owners of the currency, and the possibility of something called a '51% attack' in which members of powerful mining pool successfully 'double-spend' their coins cannot be totally discounted. A major security breach or widespread virus targeting people's digital wallets would dent confidence and send the price tumbling.
Opporutunities and Potential in 2015
- In order to engage the general public and transition from niche interest to mass usage, there needs to be a killer app. A user-friendly means of trading coins would increase demand and send the price of the coins rocketing, potentially increasing their value even more dramatically than we saw in 2013.
- Mainstream investors have shown a lot of interest in Bitcoin, but most have held back due to the market's high volatility. Any stabilization of the price, if combined with continued incremental improvements in services, could trigger an increase in investors buying into the currency, driving up the price.
- If major Internet retailers were to start accepting the currency as payments, they would drive increased adoption and investor confidence. We could easily see some dramatic overnight price surges on the back of such retailer announcements. Overstock started accepting Bitcoin in 2014, and there was indeed a small surge as a result. Bigger retailers like eBay are now considering it as a payment option, which would have a much more dramatic effect.
- Emerging markets such as India, Turkey and others are feeling the pinch as the US cuts its stimulus measures, leading to capital outflows from emerging markets as banks have less to invest, especially as home markets are starting to look more profitable. One of the major risks to emerging economies as a result is inflation (currency devaluation). This is already happening, and if it continues, those countries' wealthy citizens will want to unload local currency. For them, the deflationary nature of Bitcoin may make it seem like an attractive alternative.

Bitcoin ATM, Brno, Czech Republic (CC BY-SA 4.0).
Source: DonPowered via Wikimedia Commons
Cloud Mining and Hashing
Although buying and running your own mining hardware for coins is both expensive and fraught with technical difficulties, it is still possible for ordinary people to make money by mining.
One easy way to mine is to hire space on a specialist mining computer—or a whole machine—in the same way that you would hire a server for website hosting. By doing this, you can estimate your profits using one of the many mining-profit calculators available online. Some firms claim, based on past results, that you can break even on your initial investment in three months using this method.
A slightly different take on the cloud mining concept is provided by CEX, which is basically a trading platform for miners and investors to buy and sell shares in mining hardware. In addition to generating income from the computing power that you control, you can also choose to offer your shares for sale at any time. This is a good option if you want to invest in Bitcoin mining but would like to retain the possibility of liquidating your assets whenever you like.
While there is a good chance you can make a profit over the cost of the hosting, success is not guaranteed. Your profits will depend on both the value of the coins themselves and on the changes in mining difficulty over time.
Algorithmic Trading
Like any currency, stock or other financial product, money can be made by judiciously buying and selling bitcoins. You can try doing this yourself, but you need to have incredible insight into the market to have any success. Just like those other financial products, however, some traders have created automated systems to buy and sell bitcoins based on a mathematical algorithm.
Buy and Hold Bitcoin
Many people who owned bitcoins made a large profit last year simply by holding coins in their wallets. This is still the easiest way to invest in the cryptocurrency phenomenon.
As I mentioned in the first section, there are many opportunities for growth and price surges in the coming year. This means that there's still a possibility that the coins will keep in increasing in value as fast as they have been up until now, if not faster. If that happens, then simply buying and holding would prove to be a very profitable investment opportunity. Of course, there is also a very real possibility that the price could crash and you could lose most of your money.
If you don't mind holding your money on an exchange rather than in a wallet on your own computer, then hold your coins in an account on a site such as Bter,which pays a small amount of interest on all deposits.
Bitcoin Exchanges and Arbitrage Funds
In my opinion, one of the most promising opportunities Bitcoin this year is arbitrage. The concept is simple. Arbitrage is when you take advantage of a disparity in prices between different markets to buy at one price and instantly sell at a profit in another market.
As Bitcoin's popularity grows, so to does the number of exchanges. Prior to February 2014, when it suspended trading following a possible hack and insolvency, Mt. Gox in Tokyo had a near-monopoly on Bitcoin exchange. The market has more or less recovered, and the new exchanges that emerged in Mt. Gox's wake have had to prioritize investor trust and security.
Some popular exchanges are:
- Bitstamp
- Bitfinex
- Coinbase
- Cryptsy
- BTC-e
- Kraken
- BTCChina
- Bitcoin Source
The divergence of prices between different exchanges means that you can get involved in arbitrage yourself just by having accounts on multiple platforms, with a balance in multiple currencies in each one. When the opportunity—a difference in prices—arises you can simple buy and sell immediately without having to transfer funds between accounts.
The risk in doing this, of course, is that the price will change between when you buy and when you sell. This makes arbitrage highly dependent on the speed at which you are able to make transactions. This type of trading also requires you to sit in front of a screen watching price feeds constantly, waiting for the right moment.
Short Selling
Most currency investments are made in the hope that the value will increase over time. However, if you are one of the substantial number of people who believe that Bitcoin is over-valued and pumped up by speculators, then you can try your hand at short selling Bitcoins. Short selling allows you to profit from drops in the value of a commodity in the same way that you would profit from rising prices if you bought it.
The mechanisms of short selling vary somewhat by marketplace and local regulations, but it's normally conducted the same way. Usually, the speculator borrows stock or currency from a broker and sells it on the market with the hope that the price will go down after he or she sells the borrowed shares. If the price does go down after a certain amount of time, the investor buys the amount of shares owed to the broker at the lower price and returns them. The investor's profit is the difference between the amount the borrowed shares sold for and the price of buying them at the diminished price point.
Some Bitcoin platforms allow short selling, usually by allowing you to "borrow" the currency from other clients on a peer-to-peer network or to borrow against the platform itself. These include:
- Bitfinex
- BTC-e
- Fxopen
Some traditional trading platforms, such as Plus500, have a short selling mechanism. If you own bitcoins then you can also use this platform to hedge against loss during times of particular risk.

Litecoin is a competitive alternative to Bitcoin (CC BY 2.0).
Source: BTC Keychain via Flickr
Bitcoin Trading
Bitcoin is ideally suited for the 'retail trader' trading on their own at home, rather than professionally for a major financial institution. A decentralized system does't bear an advantage for institutions who can use their money and influence to get closest to the center of power in a centralized system.
If you are clever then you can make money buying and selling Bitcoin depending on whether you think the price will rise or fall. You can also trade Bitcoin against other cryptocurrencies. Popular alternatives to Bitcoin include:
- Darkcoin
- Litecoin
- Dogecoin
- Peercoin
- Ripple
- Namecoin
Shop on Aliexpress. Sell on Konga
The following article is by Felix Okoli of makemoneynigeria.com
Here is a new business model that can help you make some good money in Nigeria and many people are already going into it. All they basically do is buy things on Chinese websites like Aliexpress and then sell them in Nigeria on retail selling sites like Konga.
For those who don't already know it, Aliexpress is a top online shopping destination that ships things to Nigeria and they also sell to Nigerians. You can buy a lot of things on Aliexpress at a good price because they are mostly produced in China and they would also deliver the items to you in Nigeria though postal mail and in that way, save you money on shipping costs.
This business model is mostly recommended for people with little capital such as N1m(about $6000) and below. If you have more capital, you can probably make more profit if you import directly from manufacturers using a shipping container and that would require about N5m(about $30,000) and above.
Sites like Aliexpress are where I've bought some cool stuff for cheap and it has really helped save me money as an online shopper. I've bought some items I really needed for personal use but I've also started buying them for resale. One thing I've noticed it that most of these items being sold on Aliexpress are also sold in Nigeria but they tend to be priced a bit higher. You can make money by importing from China using Aliexpress and with little capital.
Konga on the other hand is an online shopping website that operates in Nigeria and sells a lot of stuff. They accepts payment in Naira and also ship to people's address throughout Nigeria whether the buyer is living in Kano, Lagos or Abuja, Konga does deliver nationwide. Apart from the fact the Konga has become a favourite shopping destination for Nigerians who shop online, it's also becoming a selling platform for peopel who want to sell things online and they do that by means of their platform called Konga Marketplace.
Konga's marketplace is a platform that allows merchants or sellers to sign up and list their products for sale on Konga such that Konga helps them make delivers and collect their sales revenue for a small commission.
What this business involves is first of all having capital in your bank account, having a shopping card e.g. Visa or Mastercard, buying things on Aliexpress, receiving them through NIPOST, warehousing them, listing your products on Konga and then submitting the products to Konga when people order for them. Konga will deliver the items for you and also collect the money which they'll pay later into your bank account after deducting their own commission which is less than 10%.
Before listing your items on Konga, you should consider the costs of your products first and include things like exchange rate used when buying on Aliexpress, shipping costs if any, custom duties if any, VAT on Konga Sales and Konga's sales commission before arriving at your selling price after making consideration for your profit.
Before starting any business whether importation or anything, It is always good to dedicate a bank account for that business and ensure that all your payments and income is passed through that account as this will help you know how much you are spending and how to calculate your costs.
If for instance you invested N500,000 into a bank account for this business, you would be given a Visa or Mastercard from your bank and with that you can use it for online shopping on Aliexpress. You should also use the same account to make payments for things like custom duties if any and also your sales revenue on Konga. It is not compulsory but it's helpful as it will help you know if the business is profitable or not and what to do about it.
When buying things on sites like Aliexpress and importing them to Nigeria, I've noticed that it's not every time one has to pay import or custom duties but it mostly depends on the volume of your imported items in terms of sale value. I think imports below N50,000 are not mostly charged but it's almost impossible to import something worth N200,000 and not expect to pay import duty on it before collecting your package. If you have any duties to pay, NIPOST will normally notify you and you'll then pay into an account specified for that but it's normally rare for low volume imports.
I think shopping on Aliexpress is a reliable way small scale importers in Nigeria are already making money and some have made millions doing so already. Konga is a good platform to sell your stuff and they allow you to make money in Nigeria.
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