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@teamsteem ·
Money Are Tokens Of Influence With The Purpose Of Facilitating Bliss

”We are given free choice in life. We get to decide whether or not we laugh. So if you want to be miserable go right ahead with whatever makes you happy.”
by Swami Beyondananda

Every chapters can be read on their own. No need for any previous knowledge about *Steem either.

*Steem is a peer-to-peer open source cryptocurrency rewarding the dissemination of the most valuable information which is determined by stake weighted consensus. Posters and voters get paid with Steem, a currency and a sort of company share. Posts with the most shareholder’s votes rise to the top of or any other websites which use the Steem blockchain.

Disclaimer: I’m not an employee of Steemit Inc. I do feel the need to mention this. Some people have made this error in the past.

Audio Version Of All 9 Chapters (Normal Speed, 1h40m)

The Ultimate Steem Book

The Purpose Of Money

Proof Of Beneficial Influence

Money’s purpose is to facilitate the attainement of our most valued, our most sought out experience.

Thus for money’s purpose to align with its creator’s most fundamental need, money must facilitate the attainment of bliss.

The value of the different money are defined by their ability to provide us with our most sought out experience.

When we’re in pressing need of food, “food money” has more value than” tools of self-defense money”. When we’re being attack the opposite is true.

Three Type Of Money

Anything of value can be argued to be money but I’ll broadly class all money into three different types and then try to simplify the fundamental place the different money occupies in our life and make better sense of them all.

Commodity Money

Commodity money is the first type. It has two forms, paper money backed by a commodity, i.e. gold receipts, silver receipts, food receipts etc. or the commodities themselves. The receipts can also be digital receipts and don’t have to be paper.

Fiat Currencies

Fiat currency is the second type of money. It can be digital or in the form of paper money but isn’t back by any commodity. The second characteristic of fiat currency is that it is decreed as money (legal tender) by a government and must be accepted as money even though no commodity backs it. All national currencies in use today are fiat currencies


The third type are cryptocurrencies. This is a new type of money created for the first time in 2008 and which I’ll be talking about more in depth down below.

National Currencies

Most creators or issuers of fiat currencies are nations or states. Fiat currencies benefit or empower the nations which issue them.

Fiat currencies empower nations and not necessarily the individuals of those nations as the money issuers by definition are the ones who decide of the beneficiaries of all newly issued dollars or yuan or rubles or whatever currency is created.
(Source unknown, probably not Josiah Stamp as stated above)

Money Creation

Not knowing the process by which newly issued fiat currencies are distributed is problematic. Saying somewhere someone knows what is the process of money creation and this process must be fair or if it wasn’t then the persons in the know would speak up for us is also problematic and fallacious.

Belief In Authority

And that is exactly and precisely what the belief inauthorityis: the insane notion that it can be good to NOT use your own brain and heart to figure out how to behave, but to instead blindly defer to someone or something else. And you don’t have to look far (any history book will do) to see the real-world results of that belief.

In summary, the only effect the belief inauthorityhas on BAD people is to give them a means by which they can drastically increase their ability to victimize good people, and the only effect it has on GOOD people is to make them passively submit to injustice and cooperate with evil.

In other words, the belief inauthorityalways endangers the good and empowers the evil.

by @larkenrose (source)

Under Siege 2 (10 seconds)

Questioning Money Creation

If we were a farmer at a farmer’s market and a buyer would show up and ask us the cost of buying everything we have to sell and upon hearing our answer would take out a printing press and would begin printing all the money needed to buy all we have, we’d surely begin to ask questions.

We’d question how does it make any sense that we worked so hard to sow, grow and harvest everything we have just to have someone show up and buy everything by printing a couple of milliliters of ink on some papers or better yet adding some numbers on a screen. We would have good reasons to question the fairness of the process.

This holds true even if its happening on a larger scale. Presuming somewhere someone knows the process of money creation is fair and thus justify us not looking deeper into it is fundamentally flawed.

The two quotes above and the video below prove this way of thinking whatever the subject is always disempower those who are ignorant at the expanse of those in the know.

In a future chapter I’ll present the best sources I know for anyone interesting in investigating those who own the money creation systems and how they use those systems to gain advantage over everyone else.

Nobody Is Smarter Than You Are

(What good is their understanding doing you? 1m30s Terence McKenna’s video)

Experiences Give Money Its Value

Upon entering a country lead by a dictator if we were asked to exchange our US Dollars for the dictator’s money knowing full well that this would allow the dictator to more easily buy weapons which they would be using to expand their influence and oppression we’d be very warry of doing such a thing even if we were proposed whatever extra special exchange rate for our US Dollars.

The words and stories we tell ourselves and our life experiences give money its value. Those are influence by the reality we live in, our needs and life’s aspirations.

Ultimately money’s purpose and how good we perceive it fulfill its purpose is what give money its value.

Fiat Currencies Empower Nations

Fiat currencies national currencies are tools created by nations. Their purpose is to empower the nations that created them. Fiat currencies are an important part of the tools use as a leverage in the different power struggle between nations as well as between the individuals of the same nation.

Fiat currencies as they are use right now aren’t empowering individuals but on the contrary, they are used to empower the nation at the expanse of its population.

Let’s not forget, the more of a currency is being issued the more devaluation it will incur but as the second quote of this chapter illustrate this isn’t a problem for the issuers. It’s only an inevitable result of their scheme.

Fiat currencies aren’t necessarily bad for the individuals but will always have a tendency to get corrupted by the most tyrannical. Nonetheless, it is how fiat currencies are used, created and to whom they are distributed that makes them bad or good.

Cryptocurrencies Empower Individuals

Cryptocurrencies are created by a process control by individuals. Their issuance systems are decentralized and tamper proof which give cryptocurrencies a fundamental advantage over fiat currencies.

Cryptocurrencies empower individuals compare to fiat currencies which tends to empowers states or the most tyrannical people of a group.

To prove cryptocurrencies superiority over fiat currencies I state three main functions of money and detail some of the advantages cryptocurrencies have over other type of money to fulfill those functions.

Money Are Tokens Of Influence

  • To create bliss. (Influence our world to create bliss or our most sought out experience)
  • To store influence (wealth).
  • To transfer influence (wealth).

Money’s primary function is to influence our world to create bliss. All other money’s functions importance are determined by how helpful they are in fulfilling money ability to create bliss.


I’ll begin by discussing Bitcoin and end by expressing what I see as some of the functions Steem can do better than Bitcoin or which Bitcoin simply can’t fulfill.

Cryptocurrencies and thus Bitcoin doesn’t have to be perfect to be adopted or preferred over other currencies. They only have to be better than the next best currency.

Bitcoin are priced in fiat currency. Thus both Bitcoin and fiat currencies can equally be used to influence our world to our liking.

Then what makes one from better the other is how good they are at storing wealth. Bitcoin price have gone up more than 100,000% in less than 6 years which have made it 1,000 times better at storing wealth. Here’s an attempt to explain why.

First, the lower transaction fees of Bitcoin compare to fiat currencies are an incentive to buy Bitcoin if and only if Bitcoin is a good store of wealth.

Now, the cost of creating or mining a Bitcoin are rising. This is due to the rising competition. (I’ll detail Bitcoin mining process and ongoing rise in competition in a future chapter.)

Bitcoin miners continue mining as long as they can sell the Bitcoins they mined at a profit. If the costs of mining a Bitcoin are rising then miner must sell Bitcoin at an ever rising price.

This benefit everyone. The Bitcoin holders and miners are benefiting from the rising prices and everyone is benefiting from Bitcoin lower transaction fees compare to fiat currency transaction fees.

I want to highlight that everyone is incentivized to mine Bitcoins. This is an over simplification and almost nobody should invest in mining Bitcoin unless one is ready to invest a large sum of money for large scale mining operation.

Nonetheless, this incentivization leads to an ever growing competition in Bitcoin mining as stated above and a favorable situation for all.

(This is my sister’s kids. It happened Sunday. I had just woke up. Kids are the ultimate bliss specialist.)

Cryptocurrencies Rising Influence!

When cryptocurrencies price rise they gain power or influence over fiat currencies.

For the reasons above it is easy to see why Bitcoin empower the early adopters over the late comers. Already more than 78% of all Bitcoins that will ever be created have been created and the rest will be mined in the next 123 years or so.


Steem has many advantages over Bitcoin. One of which is newly created Steem are awarded to those who’s create the most bliss or the most valued experience according to stake weighted votes. This is one very interesting advantage Steem’s has over Bitcoin and one of its biggest.

Steem doesn’t have transaction fees. Steem can do ridiculously more transactions per seconds than Bitcoin currently can and Steem already has some solutions to push its transactions limit even much higher. Steem has 3 seconds transactions time compare to 10 minutes for Bitcoin.

Steem has many function which Bitcoin doesn’t have. Steem incentivize, reward and disseminate the most valued information. This information can’t be censored.

Steem is so vast and its future repercussions seem so profound, it quickly become tricky to foresee.

Steem and documentations and developments are already very impressive and new lines of codes are being written daily signs of a promising and healthy growth.

Also, there are some of us who would prefer not to use money that empowers certain dictators, empires, systems, companies etc. and for that reason have begun to invest in Bitcoin and cryptocurrencies.

They are some people and I’m one of them who made the choice to invest in Steem for the reasons mention above and because we perceive Steem as being more in line with our most cherished ambitions.

Reasons To Invest In Cryptocurrencies

Disclaimer: These aren’t investment advices to follow blindly.

Today’s cryptocurrencies market cap is just shy of 17 billion which rank them around the 285th biggest market cap of the S&P 500. For all the reasons I’ve stated above, throughout my book and also everything I know about cryptocurrencies but I haven’t shared yet, I have invested quite a large part of my holding in them.

It is my understanding that the risks/benefits make it so that every millionaire if they would understand those risks/benefits of cryptocurrencies that it would make sense for them to invest from tens of thousands of dollars to millions of dollars into Bitcoin and from tens of thousands to hundreds of thousands into Steem.

Many people have already invested up a hundred of thousands of dollars into Steem.

They are risks but to my understanding investing in the occurring as well as the potential shift of influence from fiat currencies to cryptocurrencies far out way the risks that not investing represent. If true this will become more apparent as time pass.

Also, it might not make much sense for a rich person to take the time to create content for Steem right now as their time might worth more than the potential post rewards and this is in direct favor of the least wealthy. Yay!

Witness Updates!

My witness node is running without any problems and I haven’t missed a block since the last fork. I’m keeping track as much as possible to everything related to witnesses. I didn’t update my price feed in the last month. Only the top 19 witness price feed is taken into account to calculate the price feed so at this point this isn’t a priority for me.

Thank you to everyone who is supporting my witness.

I received 4 more approval for my witness since the last time I posted. The 4 votes come from 4 other witnesses which I have been approving. I received vote in that order from @good-karma (esteem app), @chitty, @furion (Steem dev) and then @ekitcho CEO of I invite you to check them up.

End Notes

I haven’t posted the French translation of the introduction as I said I would do. I had my mind occupied elsewhere but I will post it in due time.

I’ve continued to read more than 100 Steem articles a week possibly 200. I have read the latest hardfork proposal. (v0.17) I happy with the many proposal but have some very real reservations on the proposal to have a separate pool for comments. I’ve stated some of my reservations on the Steem GitHub and will continue to share my thoughts on the proposals.

I’m very happy to see the proposal of removing mining. I have stated in a previous chapter I would have wanted to see it disappear in the previous hardfork so I consider this proposal very a very good news.

I look forward to better collaborate with everyone on this platform, not only those who actively support me. Together let’s make Steem better!

And let’s not forget it will always make more sense to win one another over than to win over one another.

There’s so much more I want to share!
Thank you to everyone!

I can be contacted here:

Vote for my witness here:

Here’s my song of the moment. It’s one very poignant song. It has a little 1 minute intro which is followed by the studio version of the song.

Chapter X

I’ll be releasing chapter X with multiple sub-chapter here on this post. I’ll work on this throughout this month. The chapter will be encrypted and the keys to each individual sub-chapters will be release when I feel like it. (I might never release the keys.) It will be about some future projects I would love to see or I’ll be working on, some predictions and some observations. I might repost this chapter in a comment below and not edit it to more easily prove when it was posted.

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· @l0k1 ·
Creating New Currencies - Supply curves and how they affect price curves


am continuing to log my thought processes regarding my current project, and whenever I have opportunities to discuss them, as my friend Andrei is always happy to provide, I bounce the ideas and he bounces back his responses and thoughts and it is often very productive.

The question that has been slowly coalescing in my mind, is based on the crazy spikes that pretty much appear on every blockchain currency price curve in their early phases. In fact, so many altcoins exist because new coins produce this crazy price curve, and you can pump and dump it even if it's just purely a rebrand of another coin (with open source code).

So, I made some notes of the ideas that came to me regarding this question, and I am composing an expression of the complex of ideas here.

Last little note: I think that the final ingredient for a killer cryptocurrency is a credit market. This regulates the demand to hold and demand to spend, and allows the economy to handle rapid changes in supply. People will naturally do it, but I think that a blockchain with a monetary token should have a way to deposit it and be paid interest on loans made with it somehow.

Starting from Scratch

Firstly, let's imagine the scenario, where only one witness and account exists on a blockchain. It cannot in fact make any transaction on the Ledger because there is no other account to transfer to. Does the account get an allocation of new currency tokens when it is created?

Well, the Steem Whitepaper puts together a pretty compelling argument towards eliminating transaction fees, by requiring a minimum balance, and by restricting the rate at which accounts can make new transactions, to stop spam. I think mainly the consensus rate limit is all that matters. The losses in the system I think come from an inappropriate issuance rate.

Effects of supply rates of currency and price fluctuations

Without exception, all blockchains operate flat supply curves, though they can be altered by some schedule, such as the biannual halving of mining rewards in Bitcoin. Steem works on a 9.5% annual new token issue rate now, which is a lot better than the old 100%. But probably only because it has been reduced, and it probably should be continuously reduced.

100% new tokens per year from the first year onwards does not actually produce a flat supply curve. If you add 1 token a day, and it really does not matter what number you choose for the daily addition, and it does not matter if you make those issues progressively, say hourly, or every minute, or whatever, by scaling the time versus issue rate, the supply has a curve that can be illustrated in the following number sequence:

Sequence Total
1 1
2 3
3 6
4 10
5 15
6 21
7 28
... (and so on)

The second number plus the first of the next row adds to create the second number on the next row.

While this sequence is kind of interesting, what is important about it is the inverse. The supply of tokens increases by this rate, and conversely, the value (with the price being equal) is that the tokens lose this much value per new issue, by the ratio of the proportion of new versus existing tokens.

A flat issue curve produces a constantly devaluing share of the existing tokens with each new addition.

In fact, to make a true 'flat supply curve', you have to constantly reduce the amount you add to the pool, it can never be truly flat, but the new token issue can easily be overtaken by the rate of adoption - by which I mean the exchange of another token of another monetary system, for a token of this new monetary system. When more tokens are wanted than exist, the price spikes upwards, and vice versa.

Further Limits on Supply

If you conceive of a supply curve as instead of being pegged to time, but rather, pegged to the rate of transactions, you come to a scheme where in this early phase of adoption, when maybe many block schedule timeslots may pass but nobody puts any data into it, why should any new money be issued? And to who? What value did they provide to anyone else?

When trade is sparse, new coins are issued slower. When trade is busy, new coins are issued faster, and in proportion with the number of transactions.

The rule that works here for controlling supply that aims to minimally disrupt the price calculation, and eliminates the bubbling out in both upwards and downwards direction in price far beyond standard deviations, is to peg new issuance to transaction rates. Each transaction, the size, divided by the total supply, multiplied by the 1/x2 curve of issuance per size of transaction, will produce a supply increase that closely tracks the interest and activity in the network.

Or in other words, like you see with price/volume relationships, you see that volume is the biggest factor controlling the movement of price. Strong movements on low volumes tend to be far outside of the consensus value, and tend to return to a median level, through an up-and-down swing. If volumes themselves dictated the rate of issue, the new supply would keep close track of the amount of demand for use of the currency, and the price would not fluctuate because of the differential between supply and use.

I believe that a currency issued according to this kind of rule would track very closely with the prices of commodities, because these commodities are traded for the currency, and new currency is only issued as the demand to trade the currency for commodities. So the issuance of new currency should be mathematically correlated to the number and size of transactions, and then the value will tend towards remaining the same against the volume of commodities it is traded for.

Closing Comments

The process of the introduction of a new monetary system is something not well studied as yet, because, simply, not many currencies have really been invented, and it is only since the appearance of Bitcoin that suddenly there is a lot of new currencies and each one has different theories about issuance rates.

So the various coins and their markets and the curves of their prices are very interesting data for discovering recurring patterns that correlate to issuance patterns. I think that every cryptocurrency has that initial pump at the beginning, even Bitcoin did, although it took some time for enough money to come in to bring it to the limitations of the market and the underlying correspondence between that and the natural tendencies of people in marketplaces, for it to come to its first crisis.

Really, this initial flush should be regarded as a sign of distress. It indicates that the market does not adapt smoothly to the supply change that the currency has.

I think that both progressive, and high-resolution reduction of new tokens, that decelerates over time, and the elimination of currency issuance not corresponding with market activity would produce a cryptocurrency that starts working properly the moment two accounts start making transactions with each other.

My hunch is that the rate of transactions gives you a foundation for knowing how much demand there is for money at all (Velocity, in Economics jargon), and that with a blockchain, you can precisely allocate new issuance of currency, in perfect correlation with transactions.

If new money is issued in step with the demand for money, it is far less likely to suddenly change in value and build inertia that leads to price swings. It will tend downwards as the rise in transactions consumes the demand for the money, and upwards as the demand for the currency drops, which will naturally equalise supply and demand for the currency, like an amortiser spring in a car, and that will produce smoother price changes.

This early phase has not been well studied or characterised in existing economics literature. In fact, it is still apparently up for debate whether barter was first and money came after, or if in fact money is a system that lives inside our brains as a ledger of transactions, and gives birth to various ways to increase the trust and decrease the unreliability of the money. But I am quite sure that humans invented money as a way to eliminate mischief in trade as they increased the number of counterparties they dealt with, and this would even start to occur within the size of a village, 100-200 people.

I am very keen to get other people to point out factors in this scheme that counter my conclusion, so if you see an error in the logic of my proposition, please pick at it to your hearts content. I want to understand a little understood element of economics to do with the inception of new moneys, that I believe is behind the pump/dump bonanza of cryptocurrencies up to now.

A currency supply that matches demand better should lead to a currency that tends towards slowly dominating transactions. Adoption is what we all want. How do we make it happen?


We can't stop here! This is Whale country!

Written with StackEdit.

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@profitgenerator · (edited)
How to Calculate your Net Worth?


It may look like a simple task, but it's actually not, given the amount of inflation and the relativity paradox that is complicating it. First of all your Net Worth is the number that shows how much wealth you have in total, after all taxes, debts, and other variables are discounted. It's basically how much money you have in absolute total.

Now there are probably predefined ways how to calculate this, but I don't go with those, because they are mainstream Keynesian methods, which are severely flawed because they don't take into account inflation, money supply, and currency movements. So I have my own method to calculate this.

Also the number by itself is meaningless, you either have to compare it to other people's Net Worth, in order to estimate yourself in the social ranking ladder, or compare it to your last year's Net Worth, to know how much profit you have really made.

There is also the relativity paradox, since every monetary relationship is subjective (basically I'm a subjectivist either way). But you need an objective value, and the objective value will be simply an aggregation of subjective values. The object is simply just a collection of subjects, if you understand what I mean.

Read more about this whole paradox and philosophy here:

Calculating It

It is important to know exactly how much money you have, down to the penny, in order to be a successful person. And whatever costs are not precise, we will just estimate it, to give us a view.

Now let's take for example a fictional Johny who is a middle-class guy with the following assets and liabilities in the end of 2015:

  • A house with current bid price of: 54,631$ which he bought for 25,000$ and 800$ legal fees ,and a tax on selling it of 15%.
  • A car with current bid price of: 9162$ which he bought for 10,000$ and 300$ legal fees, and a tax on selling it of 15%
  • 62000$ in a savings account yielding 0.90% yearly after tax
  • 50 Bitcoin which he bought at 620.3$ in June 2014, 50% income tax
  • A business loan of 200,000$ which he pays 4.5% interest on it yearly with 3% of the capital,
  • A business worth 320,512$ with a yearly revenue of 10% of the worth and a fixed expenses of 8,531$ not including the debt payment, and a total business tax of 40%
  • A net salary at his own business of 5100$/month
  • Johny also likes to spend 70% of his total profits, except those of his business,which he reinvests it into the business, while putting the rest of it in his saving account.

In 2016

  • His house price appreciated to: 60,561$
  • His car depreciated to: 8,621$
  • He put his personal profits in his savings account and interest remained the same
  • Bitcoin price rose to 946$
  • He paid his business loan chunk with interest
  • His business is successful making the same profits
  • His salary remained the same

The question is now, how much money did Johny have in total in the end of 2015, and how much he has at the end of 2016. Did he make money or lose money?

  • First of all we establish a baseline, and a base currency to serve as a reference. We will choose the USD since it's the reserve currency, and it's easy to work with. He already got paid in USD so that is easy to calculate, but it can be done in other currencies too.
  • Then we need to calculate the inflation of the USD, and the USD's relative value to other currencies, to see if the base itself has moved.
  • Then and only then we begin to calculate Johnny's stats.

Dollar Index

Since the USD is the reserve currency, all commodities are calculated for the USD, therefore we don't need to calculate Gold or Oil prices. However we need to calculate the relative value of the USD toward other currencies, and the Dollar Index is the best for this:
Jan 2015: 90.27
Jan 2016: 98.63
Therefore we have a 9.261105572% increase

Dollar Inflation

The Dollar is also inflating, but I don't look at the CPI data, because that is useless, instead I look at the M1 supply change, because that is what affects prices:
Jan 2015: 2,937.3 (not adjusting for seasonality, obviously)
Jan 2016: 3,093.8 (not adjusting for seasonality, obviously)
That is an inflation of 5.328022333%

So the USD in that 1 year period has created a return of 3.933083239%

Johny in 2016

  • The house: 54631−25000 = 29631 - 15% - 800$ legal fees = 24386.35 + 25000 original investment = 49386.35$ Asset (because if he were to sell it, he would only get this much for it, fuckin taxes :D )
  • The car: 9162$ - 300$ = 8862$ (no tax because it's a loss)
  • Savings: 62,558$
  • Bitcoin (263.19$ in 2015) = 13,159.5$ (massive loss)
  • Business ( loan 200,000$) paying down 7.5%, a cost of 15,000$, together with the other fixed costs 8,531$, that is a total cost of 23,531$. The revenue is as always 32,051.2$ now (10% of the total value), so the gross profit is 8,520.2$, minus a 40% tax, that is 5,112.12$ out of this venue. But he reinvests it, so his business is worth now 325,624.12$
  • Johny also paid himself (some of the fixed costs of the business) a net 5100$ monthly, but he spends 70% of his salary. So he has another 18,360$ yearly that goes into the piggy-bank.

TOTAL = 49386.35 + 8862 + 62558 + 13159.5 + 325624.12 + 18360 = 477,949.97 $ NET WORTH IN 2015

Johny in 2017

  • The house: 60,561-25,000 = 35,561 - 15% = 30,226.85$ - 800$ legal fees + 25000 = 54,426.85$ Asset
  • The car: 8,621 - 300$ fees = 8,321$
  • Savings: 62,558$ + 18,360$ + 0.90% =81,646.262$
  • BTC (946$ at the end): 50 * 946 - 620.3 * 50 = 16,285 - 50% tax + 620.3 * 50 = 39,157.5$ (profit of 8,142.5$ instead of loss)
  • Business (194,000$ loan) paying down 7.5%, a cost of 14,550$, together with the other fixed costs 8,531$, that is a total cost of 23,081$. The revenue is 10% of 325,624.12$, is 32,562.412$. So you have 32,562.412- 23,081 = 9481.412$ - 40% tax = 5,688.8472$. He reinvests it again, so his business is worth: 331,312.9672$
  • Johny also paid himself (some of the fixed costs of the business) a net 5100$ monthly, but he spends 70% of his salary. So he has another 18,360$ yearly that goes into the piggy-bank.

TOTAL = 54,426.85 + 8,321+ 81,646.262 + 39,157.5 + 331,312.9672 + 18,360= 533,224.5792 $ NET WORTH IN 2015

Therefore his raw Net Worth has increased: 11.564936221%

And his Inflation adjusted Net Worth has increased by: 15.49801946%

So indeed Johny is a successful businessman, and made good money in that 1 year. This is how we calculate a Net Worth of an individual.

Upvote, ReSteem & bluebutton

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@rynow ·
Help Needed: Old Chinese Coins?

Help Needed: Old Chinese Coins?

The photos in this post is of some coins that my father have. He is 79 years old and according to him, he got them from his grand mother as a child. He believes it is old Chinese coins, but he is not sure of it. I photographed both sides of each coin and would appreciate any information on these coins. According to my dad the small round one is the older coin and dates from some where in the 1500's.



Thanking you in advance.

All photos were taken by me, with my iPhone.

Thank you for reading, I hope you enjoyed it.

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· @carrinm ·
TIB: Today I Bought (and Sold) - An Investors Journal #19 - Potash, Molybdenum and Oil Drillers

Inauguration day and my screens were not talking emerging markets and Mexico. It was potash and molybdenum. What is that you might ask?

Danakali (DNK.AX). Danakali is an Australian listed potash producer which mines potash related minerals in Eritrea (northern part of East Africa for those who did not do geography at school). This was identified by my investing coach as a break out candidate. Let's step back a little and work this one through. Potash is the primary ingredient for fertilizer. I have long been keen on investing in Agriculture - long term the world does have to feed itself. It is a very difficult sector to invest in as it is very fragmented. There is an exchange traded fund - PowerShares DB Agriculture Fund (DBA) which invests in futures for a whole range of crops. Its share price has broken out of its lows and made new highs in the last few weeks. My thinking is, where agriculture goes fertilizer must follow and the breakout on DKA.AX share price was very strong. So I invested.

First chart to assess whether I am barking mad is to do the buy:sell chart for S&P 500 (SPY) and Agriculture (DBA).

It confirms that agriculture has not been the place to be invested in the last 5 years. DBA did try to recover in early 2014 and early 2016 (looks like a seasonality thing to me). The challenge with DBA is it invests in futures for crops - they may not be good forward indicators. The next chart looks at SPY vs Tractors (represented by John Deere (DE)).

This shows S&P500 outperforming but with a clear turnover in late 2015 and early 2016, followed by a reversal and another turnover in the last few months of 2016. John Deere do sell products into a range of industries other than agriculture - so it is only a partial indicator of the willingness of farmers to spend. The next chart has a look at SPY vs Fertiliser (represented by Potash of Saskatchewan (POT) - based in Canada and the world's largest producer of potash).

S&P500 has outperfromed Potash but this has now flattened and held a line all the way through 2016. Potash prices have been really challenged right through 2016 and are now showing signs of improving (according to Mosaic - the large US producer). The real challenge is that POT has moth-balled a lot of its capacity - that comes on stream as soon as prices move back. There is a good recent market overview here

The chart of POT shows the strong breakdown in its share price from 2011 highs, a failed breakout in 2014 and another fall and bottoming in 2016.

Price is now attempting to break out again. On this chart I have laid out an options staircase for a January 19 Call 20 contract which will cost $2.65. The blue arrow on the right hand side is copied from the 2014 runup - if price does the same again the call Option will make 100% (3rd line in the staircase). If the runup mimics the one from the bottom in 2009, 200% will be easy (4th line in the staircase). Price would go over $35 - which is very interesting to me as I could sell a 35 Call for $0.35 and reduce my call premium to $2.30. Should price reach or pass $35 by January 2019, this would equate to a 550% return. I will think about it - meanwhile I am hoping that DNK.AX can keep up the momentum

Western Moly (WMO) Western Moly mines molybdenum, an alloy used to strengthen steel. This was another breakout idea from my investing coach. I did a little checking on the market outlook for molybdenum. First place to look is London Metal Exchange - this is the summary page for molybdenum.

Two things stand out

  1. There is no stock in LME warehouses
  2. Price is rising especially for longer term contracts.

So I looked a little harder at prices. Price has risen from $11,000 per ton to around $15,000 a ton in 12 months.

These two factors tell me that if anyone can deliver molybdenum, their share price performance will climb dramatically (unless there are huge stockpiles sitting in China). I confirmed the historical pattern on stock levels - so LME does hold inventory in normal markets - short of inventory right now. Anyone who can supply will get good prices

So I bought a small parcel of shares. Now this whole industry is not strange to me. Let's step back and have a look at a buy:sell chart for S&P 500 vs Steel (represented by the Market Vectors Steel ETf (SLX)).

This shows the steel market starting to outperform the S&P500 from early 2016 (which is when I bought this ETF). This pattern started in US steel producers and has also happened in other markets (I have made investments in steel in Europe (via Arcelor Mittal (MT)) and in Russia (via Mechel Steel (MTL)) and Japan (via Nippon Steel & Sumitomo Metal (5401.TK)). The next chart shows the gap between the non-US producers and SLX

This chart shows a 20 to 30% gap between these two stocks and SLX. The arrows show the points at which I added to my holdings of MT and MTL [Note: these stocks are both listed on US markets (US tickers shown) as well as their home markets in Netherlands and Russia]

The thinking is that where steel goes (the blue line), molybdenum will follow. Western Moly share price (the black bars) has bottomed out and has broken out.

It has a long way to go to catch the rest of the steel sector (a 70% gap). While I was digging into moly prices I came across this chart - zinc, tin and cobalt look interesting too. Time for some more digging. Base metal miners are showing us they on the way up


Transocean (RIG) January 18 Call 10. I wrote in TIB18 about the choices I had to make on the covered call on Transocean. I had put out an offer to sell these calls at $6.15 which was hit. The net result of the entire covered call strategy is set out in this table - a 54% return in just over 7 months. Return on holding the stock only was 42% - so a 13% improvement by using options and doing the covered call. [Read the rationale and the strategy of covered calls here]

Expiring Options

January 20 was a big options expiry day - there were very many contracts that expired out of the money and a few that were exercised. . I will write up a separate summary for this and tie it into an explanation of the whole options strategy and how it fits into my overall portfolio strategy.

Currency Trades

Currency trades long the US Dollar were not looking very good following the America First speech. The market has gotten very nervous and chose to seek out safer havens - i.e., Japanese and Swiss government bonds (JPY and CHF both strengthened) and Gold.

Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas. I do participate in an investing group - some of the ideas flow from there.

Images: I own the rights to use and edit the Buy Sell image. Molybdenum images are copyright London Metals Exchange - and (using LME data). All other images are created using my various trading and charting platforms. They are all my own work

Tickers: I monitor my portfolios using Yahoo Finance. The ticker symbols used are Yahoo Finance tickers

January 20, 2017

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· @steemtoto ·
Which currency has the biggest increase?(기준일 2017-01-25) SBD 0.295 BURNED

<최근 게임 결과>

(1) TOP : FCT(increase 6.503%)


아래 이미지는 글을 쓰고 있는 시점에서의 주요 가상화폐의 가격입니다.
(The image below is the price of the major virtual currency at the time of writing.)
국제표준시(UTC)로 2017년1월25일 0시에 가격이 가장 많이 오를 화폐는 무엇이라고 생각하십니까?
(International 25 January 2017 00:00 What do you think is the currency with the highest price?)

  1. 기준거래소(Standard exchange web site) :
  2. 비교화폐(Target currency) :

  3. 지난 게임 승자(Last winner)

@bitcoinnational 1회
@leesunmoo 3회
@steemtoto 1회
@vip 1회
@zefa 1회

<게임방법(How to play)>

  1. 본 게시물을 추천하십시오. (Up vote this post.)
  2. 그리고 댓글 화폐중 당신이생각하는 최고(가격이 가장 많이 오를 화폐)를 추천하십시오 (And Up vote the best of the money you think (the price is the most expensive currency.))
  3. UTC 2017-01-24 00:00 이후 추천자는 승리자에서 배제합니다. (UTC 2017-01-24 After 00:00, referrals are excluded from the winner.)


  1. 정답자에게 게시물에서 발생한 스팀을 분배합니다. (Distribute the correct answer to the steem from the post.)
  2. 게시물에서 발생한 스팀달러는 다음번 게시물의 광고비로 소각합니다. (Steem dollars from the post will be incurred for the next post.)
  3. 정답자가 없을 경우 게시물에서 발생한 스팀은 다음 게시물로 이월됩니다. (Without the correct answer, steem from the post will be carried forward to the next post.)


  1. 운영방식은 변경될 수 있습니다. (Operation is subject to change.)


스팀을 사용한 멋진 사이트가 하나 만들어 젔습니다. 굳 카르마의 작품입니다. 고마워 굳 카르마.!/polls

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· @marketingmonk ·
That's Gotta Hurt! Western Union Admits To Money Laundering And Is Fined $586m (The Cryptoverse #192)

On Today's Episode Of The Cryptoverse:
Remittance giant Western Union has been fined $586 mln after admitting to money laundering and supporting fraudulent wire transfers. The penalty of $586 mln will be used as a refund for the victims of the crimes.

Please Support The Cryptoverse And Boost Cryptocurrency Adoption By Becoming A Cryptoversity Patron:
Make a regular contribution and you'll help to secure Cryptoversity's future, get unlimited access to all Cryptoversity courses as well as a private Telegram chat group where you get direct access to me:

Or Pay As You Go With Bitcoin Tips (Dash address on the podcast page above):

Subscribe To The Podcast Here:

Watch The YouTube Version Here:

Today's episode is sponsored by Dash, the privacy focused digital currency that offers transactions with instant confirmations. It’s unique decentralised decision making and self funding system make it an ideal choice as a stable and secure digital cash.
Click here to learn more about Dash - Digital Cash

Cryptocurrency Prices Provided by

The Bitcoin Price Chart Provided by

The Original Post on The Cointelegraph

Produced by the online school for learning about Bitcoin, crypto-currencies and blockchains.

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@jang ·
Precious Metals Report | Jan.23.2017

IN THIS REPORT : WILL TRUMP BE BLAMED FOR COLLAPSE? | The Central Bankers Are Going To Shutoff The Spigot And The Economy Will Rollover | Sprott Monthly Market Update with Rick Rule: Optimistic on Gold & Cautiously Bullish on Gold Stocks


The Central Bankers Are Going To Shutoff The Spigot And The Economy Will Rollover | Charles Hugh

Sprott Monthly Market Update with Rick Rule: Optimistic on Gold & Cautiously Bullish on Gold Stocks

gold #silver #money

Photo credit:

Enjoy and Be Safe Everyone!...
If You like this post - Upvote, Follow, Resteem. Thank You!....:)...

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· @soundmoney ·
Silver hitting previous resistance area (4hr chart)

Pinball between the green lines, Moving Averages nicely stacked and heading up.

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· @tjpezlo ·
Trader's Indecision

Three days and not much movement. Synereo Amp is sleeping.

Lets wait and see where this is heading.


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· @soundmoney ·
Hochschild Mining - up 12% on the day - mine reopening.

Hochschild Mining has reached an agreement with a local community at its Pallancata mine in Peru to allow the silver & gold mine to reopen  this week. Bullish on Hochschild, lovely green candle today, I am Long.

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· @soundmoney ·
BTCUSD red line did get hit, added more

12 days ago I noted my add in Green box area and wondered if the redline would get hit.  It did and further add at that point.  Interesting times....

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· @rmach ·
Blockchain Venture Capital - Monthly Report #1 - Dec2016

Hello Steemians!

I've always searched for evidence that blockchain technology is here to stay. A very direct way to assess that is to check how much (and whose) money is being applied on blockchain related companies. About a year ago I started following the coindesk list of bitcoin venture capital to get the pulse of this new movement. I don't need this to believe in cryptocurrencies or the underlying technology. My decisions on investment also don't rely on this. I just think it may be an interesting indicator of the overall health of the sector. Are we going to see Steemit or any other Steem based/focused company in this list soon?

Almost every month some investors trust their money to one or more companies. Whenever that happens I'll keep you updated. Here are the news of last December. Wyre and OpenBazaar received nice investments. Let's wait and see what 2017 will bring for these and other companies that are shaping the future.

data source: Coindesk
additional readings:


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· @soundmoney · (edited)
USDJPY Reversal to July-November range?

After double top heading down in dramatic fashion?

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· @adambalm · (edited)
Economics students call for shakeup of the way their subject is taught
Economics students from 19 countries have joined forces to call for an overhaul of the way their subject is taught, saying the dominance of narrow free-market theories at top universities harms the world's ability to confront challenges such as financial stability and climate change.

In the first global protest against mainstream economic teaching, the International Student Initiative for Pluralist Economics (ISIPE) argues in a letter to the Guardian that economics courses are failing wider society when they ignore evidence from other disciplines.

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@ajaub1962 ·
Development (- 227 US$) of my deposit around virtual currencies (2017/01/23)


I share my experimental deposit aroun d virtual currencies:

US$: 354.40
ETH: 0.1
ETC: 0.0
LTC: 0.0
ZEC: 2.56
XMR: 0.0
BFX: 910.31
RRT: 2,791.25
Steem: 772.48

Total: 1,569 US$ - 227 US$ (23.01.2017)


A success story will be cloud mining with Bitsrapid. Is there any doubt because of ponzi? Till now the ROI is acceptable.
Here are my daily profits:


This is no guarantee! Investments in virtual coins are highly risky. You know for instance MtGox and the theft on Bitfinex ;-)


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· @stratilatkryuko ·
Getting Away From Work I Don’t Love

I used to think I’d work doing whatever I needed to to make money.  Now, I don’t think that way.  What good is a job that makes a lot of money if you hate your existence within it?  I know it makes you money, but you also lose a lot.  You will probably work long hours or suffer mentally.  That’s not where I want to be.

I want to do something I think is really cool and make lots of money doing it.  Other people have done it, why can’t I?  The “why not me” line is something I always ask myself when I see people getting rich and becoming successful.  I have all the tools, I just need to make it happen.  That’s what I’m trying to do.

I really do like blogging, but it’s not something I want to do forever.  Actually, I’ve grown to be pretty diverse in my interests.  I don’t know if there’s any one thing (as far as specific fields) I’d want to do forever.  I’m always interested in business ideas and things of that nature, but I don’t think there’s any one thing I could do over and over again.  Perhaps, I could help in the same lines for several different types of businesses though.

I need to set some goals for tomorrow so I’m going to do that right now.  My new add-on to each day is to actually write down 5 things that must be accomplished come rain or shine.  This will help these to-dos get done and make me more productive so here goes.

  • Clean out my car in under 30 minutes.
  • Read 45 pages on book I’ve been wanting to finish in 1 hour.
  • Organize my computer for 5 minutes.
  • Envision my success for 5 minutes.

I just created 4 important to-dos in only 3 hours.  I know I said 5, but I wanted to make it exactly 3 hours.  The reason why I put time constraints on these things is they need to get done and fast.  I don’t have all day to get them done and if I impose a time deadline on them they won’t linger on.  This is a lot like what Tim Ferris mentions in his book, Four Hour Work Week, as Parkinson’s Theory.

You give yourself a deadline and magically stuff comes together a lot faster.  I know this is the case for me.  I’ll get these done and I may get even more accomplished.

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· @sportus ·
«Реал» лишился сразу трёх основных футболистов

Главный тренер мадридского «Реала» Зинедин Зидан в ближайшее время рискует столкнуться с серьёзными проблемами. Дело в том, что командный лазарет переполнен, и наставник сливочных не может рассчитывать на целый ряд игроков.

К ранее травмированным Пепе, Хамесу, Бэйлу и Карвахалю присоединились Модрич и Марсело. По словам медиков, хорват с бразильцем выбыли из строя примерно на месяц.

Но и на этом проблемы «королевского клуба» не закончились. В поединке с «Малагой» (2:1) лидер «Реала» Криштиану Роналду получил микротравму.

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@gsdalex · (edited)
Money. Part 4 United States dollar

Dollas is the most population currency in world today. It used by all countries of world for finance international calculations.
United States dollar was born in July 6, 1785. The symbol of dollars ($) was born in April 1 1778. The banknotes of dollar have some nominal values: 1, 2, 5, 10, 20, 50, 100. We known about some rarity banknotes with nominal values: 500, 1000, 5000, 10000 and 100000. It is a history of this banknote. What is name of coints dollar? You will not believe me =) It name is cent. Yes of course. The coints of dollar and euro are similar, but euro coints name are eurocent. 1$=100 cent. The coints of dollar have some nominal values: 1, 5, 1 dime = 10 cent, Quarter Dollar=25 cent, Half Dollar = 50 cent and Dollar coin.

IMAGE RESOURCE 1, 2, 3, 4, 5, 6, 7, 8.
The text is written by me.

Do you like this currrency? What do you think about it?



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@jasonmallari · (edited)
Making A True Commitment To Managing Money

Making A True Commitment To Managing Money

You will have to deal with money, it is a way of life. This is why it is important to learn how to manage your finances. Try to learn how to be independent financially. The article below reveals ways to pursue knowledge about this subject.

Come up with a personalized budget that takes into account all of the money you earn and spend. The first step is to determine the total amount of income your household earns after taxes are deducted. Do not forget about additional smaller sources of income, such as freelance jobs. The amount spent every month should not exceed your total income.

Next, you need to look at what you spend by creating an itemized list. Any money paid out by you or your spouse should be included. Make sure you include things like insurance costs and vehicle maintenance. This list should also include the money you spend on food, including coffee and the times where you eat at restaurants. Entertainment expenses and other occasional expenses should be included as well. Make sure the list is not missing anything.

Now that you have made an honest assessment of the flow of money into and out of your home, it is time to start organizing it into a workable budget plan. First, find out which of those expenses listed can be removed to save those precious dollars. Do not stop at the coffee shop, take your coffee with you. This is a great way to cut out a small expense that adds up over time. Look through the list carefully to find areas to cut.

There are many different ways you can lower your utility bills by upgrading and repairing your home. Energy efficient windows keep heated air inside in the colder months and cooled air inside in the warmer months, saving you money on both your heating and air conditioning expenses. A new hot water tank can further reduce your energy bills. Additionally, you should also take a look at the owners' manual of your dishwasher and other appliances to ensure that you are using them in the proper manner. Fix all leaky pipes to make sure your water bill isn't too expensive.

If your current electronic devices are a couple of years old, consider replacing them with newer and more energy-efficient models. The resulting reduction in power consumption will be reflected in your bill. Unplug electronics when they are not in use. In the long run, even that tiny amount of electricity can add up on your power bill.

If you pay a little more now, you will save in the long run with lower utility bills. An example of this is replacing the roof of your home when needed. Energy costs can be greatly reduced by eliminating areas where hot and cold air can escape from the home.

Ideas like this are helpful when you've decided to start saving for the future. Balancing your budget is an extremely stress-free way to live. When you upgrade your appliances, you will save money on your utility bills. This, in turn, will help you become more financially free.

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