#Money

Your studies, your life and all of it is materialistic but the way you experience it and endure the hardship isn't.

You are nothing without money, money does not buy happiness, it buys pleasure and freedom. You can be happy but unfree and enduring displeasure with mental discipline, while poor but every fucking choice you make from 16 and up at school and from then on should be geared to getting jobs that pay well, point blank period.

I messed up, don't do what I did. Don't follow your heart, don't go for subjects you aren't already naturally very adept at, stick with your strengths but not the ones that don't have a job down the line. Work your ass off and then be free later.

I did my life wrong, I was true to false principles and am never going to be that rich because of what I did wrong. I don't want to be too rich, I want to be very wealthy and use it to help others, I will never be rich enough to, I messed up. Now that I didn't, I have to sacrifice my freedom and pleasure to gain money to gain freedom and pleasure for many years to come.

From a site called Alux.com:

The video has a very positive yet realistic vibe. I believe it eventually admits that gaining financial independence isn’t exactly “easy,” but easier than many believe and easier than it used to be.

My thoughts:  the video provides food for thought and can hopefully provide inspiration to those open to listening to it. It certainly isn’t material for the “woe is me” type. Financial independence requires discipline, focus, patience, adaptability, and a positive attitude— with these traits, gaining wealth is easier now than ever— perhaps even close to a mathematical certainty. Thing is, many people do not possess all of these traits and will continue to scrape by as they always have.

One important thing missing from this particular video:  the importance of good relationships. Part of a healthy and wealthy life is good relationships with good people. It is good for emotional health and well being as well as networking into a career. We are social creatures after all…

For anyone curious about how cryptocurrency actually works, I'd recommend this video from 3Blue1Brown: https://www.youtube.com/watch?v=bBC-nXj3Ng4 .

I was considering making a debate about this at one point, but I decided not to for whatever reason (most likely lack of confidence). When it comes to proof-of-work, there's no way for anyone to create a block that contains a transaction that didn't happen, send out that block to only one entity (if you were trying to fool them into thinking you had sent payment, for example), and always have a longer-block chain (validity is always based on the longest block-chain) unless you controlled over 50% (let's say 52%) of the computing power involved in mining the particular crypto.

If you controlled over 52%, you would, per the law of big numbers, be capable of finding the hash needed enough that your block-chain that contains the fraudulent transaction that you never broadcast to anyone but the person you're attempting to deceive faster than anyone else on average and would be able to make it seem like your block-chain is the valid one. This isn't possible with things like bitcoin (as far as I know), but what if we reached a point where a government managed to somehow, maybe by preventing mining from anyone but the government (if that's even possible), control said 52%? They would be able to have complete control over the currency and be able to buy things without even having to spend currency as long as they hold the longest block-chain for long enough.

Having immaterial currency backed by a nation-state has worrisome implications for their ability to control money as well. If the government managed to have complete control over the currency, there's nothing stopping them from declaring all their currency worthless, forcing people to spend it in a certain period of time,  taking it away from people without even needing to be near them or their assets, etc...

I am very open to the possibility of being wrong in a lot of things that I said. It's been a while since I researched it, but I'd be curious if anyone else has similar or differing thoughts on nationally-backed crypto, especially with China's creation of one.

The origin of poverty stems from the fact that people have incompatible ideologies. There are two types of people in the world. Those that wait and those that don't and those that earn wealth and those that don't. The fractional reserve system was created in 1668 by greedy bankers.

How is the fractional reserve unethical one might ask?  

Originally, the markets of the world had a gold standard and resource value resembled the scarcity of supplies in the markets.

The banks invented money without wealth through the fractional reserve system. That is counterfeit by definition. 

Because credit goes to capital investment and consumer purchases, this means that a finite resource pool is used to initiate a chain of resource transactions for future projects, homes and consumer purchases. Supply is limited though so inflation increases. 

Wealth perpetuates new wealth creation. A finite number of resources can create more resources in the future in a capitalistic environment that places emphasis on the immediate consumer products that people want.

Credit Creation without wealth distributes resources unevenly to many projects that reveal themselves as bad investments in the future.

Keynesian Economics is flawed because it bankrupts people's incomes and money which isn't wealth. These Bankers are greedy and think that they do a service to society when they invest into projects, however, when the economy is booming and everyone has money, the most damage is done because banks keep lowering standards of credit and the economy comes over-heated with employment and activity that is utterly useless. 

A depression or a recession then develops a country and capitalism redirects the mismanagement of resources into projects that immediately satisfy the consumer and not the whims of the robber barons that like counterfeiting money.