1/ It's 2023, and some people still think it's too late to get into crypto. But the truth is, we're still in the early stages of this technological revolution. As the latest Consensus Magazine article shows, there are many reasons why we're just getting started. $QUACK
2/ For one, the #adoption of cryptos and blockchain technology is still in its infancy. While some businesses have started accepting crypto payments, there are still many more that haven't even dipped their toes in the water yet. This represents a huge growth opportunity. $QUACK
3/ Another reason why we're still early is that the #infrastructure of the crypto ecosystem is still being built out. From decentralized exchanges to digital wallets to new blockchain protocols, there's still a lot of innovation happening in the space. $QUACK
4/ And let's not forget about the potential of crypto to transform the world of finance. With decentralized finance (#DeFi) platforms and protocols, we can remove the need for intermediaries and create a more equitable financial system. $QUACK
5/ Of course, there are still many challenges to overcome. Regulatory uncertainty, security concerns, and scalability issues are just a few of the hurdles that the crypto industry needs to address. But with every challenge comes an opportunity for growth and improvement. $QUACK
The future of money is happening now, and you don't want to be left behind. So don't miss out on the opportunities and potential of this exciting technological revolution. Join us in the world of crypto today! #CryptoIsStillEarly#RichQUACK#FutureOfMoney $QUACK
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1/ π Welcome to the world of crypto slang! In this thread, we'll dive into the most popular terms and phrases used in the #crypto community. Buckle up, and let's get started! #CryptoLingo $QUACK
2/ π€ HODL: A misspelling of "hold" that became a popular term in the crypto world. It means to hold onto your cryptocurrencies rather than selling them, even during market fluctuations. Stay strong, HODLers! πͺ #HODL $QUACK
3/ π± FOMO: Fear Of Missing Out. This term describes the anxiety people feel when they see others profiting from an investment or trade, making them want to jump on the bandwagon. Remember, always do your research before investing! π§ #FOMO $QUACK
@Twitter@elonmusk 1/ π€ AI-powered Crypto: Did you know crypto trading bots are now programmed to invest based on @elonmusk's tweets? Just kidding (or am I?)! It seems like the crypto market dances to the tune of the Technoking's tweets. π #Cryptonomicon $QUACK
@Twitter@elonmusk 2/ π¬ Meme Magic: Remember when #DogeCoin went to the moon? π One tweet from @elonmusk and it skyrocketed! The power of memes and Twitter's undying love for them keeps the crypto world laughing and trading. ππΆ #DogeToTheMoon $QUACK
1/ 𧡠Demystifying Crypto Taxes: An Introduction to Taxable Events, Calculations, Record-Keeping, Strategies, and Pitfalls. A thread to help you navigate the world of #cryptocurrency taxation $QUACK #RichQUACK#CryptoTwitter π
2/ π° Tax treatment of cryptocurrencies: Tax authorities worldwide treat cryptocurrencies as property, not currency, meaning you're taxed based on capital gains/losses when you sell, trade, or use them. Each jurisdiction has its specific tax regulations. $QUACK π
3/ π Common taxable events:
a) Trading crypto-to-crypto or crypto-to-fiat
b) Selling crypto for goods/services
c) Earning crypto from mining, staking, or other activities
d) Receiving crypto as income (e.g., salary or freelance work)
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πUnlocking Success: Dive into the key takeaways from "The 7 Habits of Highly Effective People" by Stephen R. Coveyβa holistic approach to personal & professional effectiveness. #RichQUACK $QUACK
A threadπ
Habit 1: Be Proactive π―
β‘οΈFocus on what you can control & take responsibility for your actions. Empower yourself by overcoming challenges & taking charge of your life. $QUACK
Habit 2: Begin with the End in Mind π
β‘οΈDefine your values & vision, align your actions accordingly. Set long-term goals & create a meaningful, purpose-driven life. $QUACK
Despite being around for over a decade, there are still many misconceptions about cryptocurrencies. This threadwill debunk some common myths about the nature of crypto. #RichQUACK $QUACK #Crypto#bullrun
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Myth 1: Cryptocurrencies have no backing
While #cryptocurrencies are not backed by any government or central authority, they are backed by cryptography, providing a secure and decentralized way of verifying and recording transactions. Some are also backed by real-world assets orβ¦ twitter.com/i/web/status/1β¦
Myth 2: Cryptocurrencies are only used for criminal activities
While some have been used for illegal activities, #cryptocurrencies are used by millions of people around the world for legitimate purposes such as investing and making purchases. $QUACK
Here are some key takeaways that can help you better understand your relationship with #money from "The Psychology of Money" by Morgan Housel @morganhousel#RichQUACK $QUACK #Psychologyofmoney
THREAD π§΅π
1. Wealth is what you donβt see: Wealth is the assets you accumulate that nobody else can see. Itβs the cars not purchased, the clothes not bought, and the vacations not taken. #ThePsychologyofMoney#Wealth#Savings $QUACK
2. Compounding is the most powerful force in finance: Time and patience are the most important ingredients of compound interest. Understanding the power of compound interest is essential for building long-term wealth. #CompoundInterest#WealthBuilding $QUACK