Bitcoin now worth less than 200 USD – Dropped from 225,703 to 190,309 in less than a day

Bitcoin now worth less than $200

The two hundred dollar mark has been breached earlier today when Bitcoin fell from 225,703 all the way through 200, briefly touching the $176 region, but getting some decent support around $180-$190 later.

BTC down to 190 usd per coin drop last 24 hours price chart2The drop seems much more significant now than it did yesterday when I suggested going short for short term. Nice round numbers like 200 are key points in all trading simply because people like these numbers. The breach below 200 just gave a pretty strong blow below the belt for all the bulls.

Bitcoin mining not profitable

Back when Bitcoin was still worth $700 and more people were already talking about the profitability of mining new coins. That’s when the talks started about Bitcoin losing its value simply because the mining costs were increasing exponentially as new blocks were discovered. Given that the crypto currency is now worth less than two hundred bucks, it’s very likely that we are going to see some serious crash as Bitcoin is slowly becoming worthless.

The grim future of Bitcoin

Small time miners and computer nerds are already starting to shut down their mining rigs, trying to sell the hardware cheap on eBay or simply moving to easier to mine crypto currencies like Doge for example. This means that the mining power is slowly but surely moving away from the regular folks and into the hands of big players and organizations who have the type of hardware required to mine Bitcoin. Definitely not the type of “freedom” we had in mind…

Share!

Second half of January not looking so good for Bitcoin

btc usd price chart 2015 january bearish trend down fallMetaTrader 4.0

As you can see I have finally updated to a better, more sophisticated software. The price chart looks a lot better now with a lot of custom features and I already looked into MQL4 programming language which at first glance seemed epic easy to master so keep an eye out because in the future I could create a trading robot for Bitcoin ;)

 

Dec 25 till Jan 13Other half of January

It’s not looking good for the bulls- at all. The breakout since the early days of year 2015 has been harsh for the bulls. Bitcoin has now fallen from $317,3 all the way to $226 and it’s showing no signs of stopping any time soon. Remember, we are dealing with the lowest point of BTC since March 2013. The fact that we couldn’t break the barrier of Jan the 3rd which was $289, on the 7th of Jan (which is the highest point for price correction) means that we have a confirmed downward trend. Just look at that last black candle of death…

 

So what should we do?

I’m a bull myself and I never make good trades from selling, but if you want to give it a try then wait for another price correction up to some $264 area and then go short. It makes more sense to sell at this time. I personally haven’t YET given up all hope and I will be waiting for an opportunity to go long instead. It might not happen any time soon, but we have been lingering in the oversold area for too long already.

Share!

Earn extra income from home as a freelance transcriber for Scribie

Who is a transcriber?

someone who makes a written version of spoken material

As a transcriber you basically have to type down everything that is being spoken and you usually need to do it pretty fast too, to keep up with the speakers.

 

Do I need a special license?

Woman typing on an old typewriter retro smoking
Usually yes. It’s a common requirement to have some sort of a license that proves you are good enough to be hired to transcribe documents for someone, but at Scribie it’s not a requirement! All it takes for you to become a transcriber at Scribie is successfully passing a test transcription that gets assigned to you and you’re in.

How much work will I have?

At Scribie there is one database of audio files for everyone and whoever picks a file first gets to work on it (first come, first served). At the time of writing this article we have more than enough audio files available at any given time.

How much will I earn?

It depends on how fast you can type! I type about 80-85 words per minute and at that rate it usually takes me 15-20 minutes to complete one audio file which is worth $1 USD. It’s easy to do 3 files per hour, 4 without rest and 5 or more if you’re a machine. You can test your typing speed here. The audio files themselves are 6 minutes each, but you really need to stop and rewind a lot to make sense of the more difficult parts of the recording.

The downsides of Scribie

Nothing is 100% awesome and Scribie is no exception. It takes 35+ days to get approved for your first test subscription after your initial registration date. This is because they have too many people joining every day and they can’t process new applicants that fast, but that’s fine because you will get your chance eventually.

 

The average earning rate is awful too. For me it’s a maximum of $4 per hour, which is less than minimum wage. Professional transcribers can earn ten times as much, but businesses that hire these guys ask for all sorts of special licenses from you and most beginners don’t have these. Scribie is good for beginners to test out the waters in this business. It’s definitely not for everyone. (ie. if you get mad and smash your keyboard because of the horrible Indian accent someone was speaking in).

 

Apply here

Share!

A new perspective for people who are constantly struggling with money

You see and hear of people making money online all the time so you know it’s possible. You read all the ebooks and join a hundred different programs just to get even the tiniest piece of the pie, yet all of your efforts seem meaningless and you are disappointed time and time again- you just can’t seem to make it work.

 

Surely you must be doing something wrong, right? So you keep track of what you do in order to find the flaw within you that’s stopping you from succeeding, but no matter how hard you look and how hard you try to learn from other people and from your own past mistakes, the money is just not getting into your wallet. If anything, it’s going out at an accelerated pace! Does that sound familiar?

 

This is how the system works

Crazed Business Woman Grabbing Money From FloorEvery money making scheme and trick will boil down to just one thing- making someone else pay. The payment doesn’t have to be as direct as cash, it can also be something even more valuable- time. But that’s not important right now. What’s important is that you understand that in order to make money online, someone else has to pay that money to you. You can’t just make money out of thin air (like the government who just prints out more bills if they get in trouble).

 

When you’ve been in the industry for a while the things you do in order to make someone else pay will become more and more extreme to the point where most of us blatantly lie about a product just to make the sale. I honestly admit that I have done this and I know that if you’ve been in this industry for 10 or more years, chances are you have done it too. Be honest with yourself… when was the last time you bent the truth even a little bit just for the sake of getting another sale? And don’t try to find excuses like “it’s just a marketing strategy”.

 

Even if you have simply manipulated your victi… *ahem* YOUR CLIENT into believing that the product or service you are selling to them is exactly what they need and they can’t live without it, you have basically lied because more than likely you were selling them something that was totally useless. An ebook about making money? Useless and filled with lies. How about the new pyramid scheme with a cover up “product” to make it look legit? Completely rubbish. Or maybe you’ve asked someone to join a 100% free program? No harm done, right? But did you also consider the fact that the program owner might one day start lying to the person you referred? What if they believe those lies? Think about it… it’s on you.

 

And you’re doing it all for what?

Pile of dollars in a trash bin useless moneyA piece of paper with fictional value that our community has assigned to it. Did you even know the fact that if everybody on this planet would suddenly decide to go to the bank and withdraw all of their money, the banks would say “sorry, but we don’t have that kind of money available at the moment”? It’s true. The banks have lent out more money than they actually own and the pieces of paper are backed by absolutely nothing other than the value we assign to it (ie. the goods we can get for money) Money used to be backed by gold, but that was a long time ago…

 

You can’t eat money– you need food. And because of money huge companies are throwing away enough food every day to have all of the people on this planet fill their energy requirements for 24 hours. Why are the companies throwing it all away? They’re scared to sell a day old meat because if someone gets food poisoning they could get sued and they would lose a lot of money in court. (This is just one of many examples).

 

We are at a special point in our history. Right now we have the technology to grow and produce enough FREE food for everybody, yet we are throwing it all away because we need to sell more in order to make more money. The workers in big supermarkets are prohibited to give homeless people all the food that gets thrown away… can you believe that?

 

You can’t heat your home with money. A warm home is always nice, but money doesn’t really fit in the picture here either. We have the technology (ie. solar panels and wind turbines to name a few) to produce free energy and heating from our environment. Businesses just don’t want you to realize that because then you wouldn’t pay for any of their crap.

 

How about luxury, expensive clothing and jewelery? Well, if you’re really that kind of a person why don’t you just glue those hundred dollar bills on your head and walk around like that? I’m sure people will notice how rich you are because showing off- that’s the only reason you wear a 5,000 dollar watch, right?

 

These examples are just a tip of the iceberg, but if this article has touched you in any way and you are slowly starting to realize that we live in a crazy world where the value system is completely upside down then may I suggest you dig deeper and read this book: “The Best That Money Can’t Buy” by Jacque Fresco. I can assure you it’s a good read. (Yes, it’s my Amazon affiliate link and I do realize the irony here).

 

If you prefer to watch a free documentary on many of the same subjects then there is a place on the internet called The Reality of Me– a 13 hour long documentary divided into short, easy to grasp chunks providing real solutions to our modern life problems. This documentary will show you that by properly utilizing our current level of technological advancements and knowledge about our environment it’s indeed possible to live in a world where everything is abundant and money is simply obsolete.

 

From TromSite:

 

The TROM documentary is trying to present, in a simplistic way, the world in which we, human beings, live. The world discovered so far, not some idea or personal choice. Moreover we tried to present alternative solutions to current problems and took into account the future, which promises to be more than interesting. An informative documentary, perhaps shocking and disturbing to many, depending on how you digest the information.

So I should just quit money?

Basically yes, that’s what I am trying to say. But we can’t do it right now because the monetary system in which almost all of us are bound to, would crush us. The first step in changing our world is to share this information and educate people- show them that it’s possible to live differently, live better. Most people don’t even understand it yet so we have to start from here.
Share!

How I fixed a Samsung I9100 Galaxy S II that was not charging any more for just $2.66

One day my sister came to me and said that her phone, the Samsung Galaxy S II, could no longer be charged. Something was apparently wrong with the charger port because when I held the cable at a right angle the phone lit up for a brief moment. Because the warranty was still valid I suggested my father to take the phone to the local shop where the phone was purchased and have them fix it… and this is where things got really stupid!

First he had to pay 20EUR in order to have them look at the phone. I figured out what was wrong with the phone in a few minutes, but it took them 2 days to finally call and say that the motherboard needed to be replaced and that the warranty would not cover it because they had concluded that my sister had broken it and it was no accident.

When my father asked how much will it cost to have the motherboard replaced, the tech guy gave a solid answer- 180 EUR. Obviously he didn’t pay for it because he had already paid them 20 EUR for looking at the phone and now they were asking 180 EUR more- the phone isn’t even worth that much as new!

While my little sis ended up with a cool new phone I decided to not give up and try to fix the Galaxy S II myself. How hard could it be?! So I opened up the phone and looked inside… I saw that the part of the motherboard that had a charger port could actually be easily disconnected from the main board. Upon closer examination I found some product serial numbers on it that I typed into eBay and this is what I found:

USB Charger Port Dock Connector Cable for SamSung Galaxy S2II i9100 i777 Rev 2.3
USB Charger Port Dock Connector Cable for SamSung Galaxy S2II i9100 i777 Rev 2.3

Charger Port Dock Connector Cable for SamSung Galaxy S2

I was shocked to see that the total cost for this part was just $2,66 USD. I couldn’t believe it was the only thing broken in the phone, but I placed an order just in case… I just HAD to try myself!

After about a month of waiting (item came directly from China) it finally arrived in the mailbox. I carefully removed the old one from the phone and connected the connector leaving it all open on the table just for the sake of testing it out… I was nervous a little… I carefully connected the charger to the phone… and IT WORKED! The phone started charging immediately.

What the… The professional tech support that we trusted would have taken 180 EUR (total of 200 EUR) for this? Wow… just wow. This is the last time I take anything to these guys. This experience inspired me to write this post and propose an idea what to do the next time a gadget of yours breaks down. Here it is.

PROPER way of dealing with broken gadgets

1. Try to fix it yourself

First of all analyze the situation. Try to understand what’s wrong and then try to fix it yourself with the knowledge you already have.

2. Learn how to fix it yourself

If you don’t know how to fix it at first, try to learn more about the device. How it works, what parts are required etc. It’s a fun way of learning something new!

3. Take it to someone who CAN fix it

If all else fails and you can’t fix it yourself you should probably take it to someone who can fix it. Try to find a tech nerd instead of a corporation though. Apparently they’re after profits and show little interest in actually helping you.

4. Recycle it

Sometimes things just die and there’s nothing you can do about it. If your nerd tech friend couldn’t fix it perhaps it’s time to say goodbye. Make sure to take it to a recycling center so it would be reused to make something nice.

In the monetary system people will rip you off

It sucks, but it’s true. Just like these tech support guys were after a gigantic profit you can easily get ripped off by anyone who values money highly. Remember, money is just paper. It doesn’t mean anything. I didn’t fix the phone with money… I fixed it with a spare part. Sure, it cost me $2,66 because we’re living in a monetary system, but you get the general idea :)

I definitely support The Venus Project and a resource based economy where money is simply obsolete and knowledge and a better understanding of how things work are the truly valuable commodities.

Share!

Correction in the Bitcoin price and what to expect later this month

Bitcoin price movement up trend breakout chart correction formationI underestimated the market

Guess I have underestimated the buyers potential and also the significance of the recent hidden service raid that FBI conducted earlier this week. Just look at that wonderful green bullish candle :) There’s clearly a connection between the raid and the price movement here because last time FBI closed one of the biggest darknet marketplaces and confiscated millions of dollars in Bitcoins the price skyrocketed exactly the same way just a few days later. After they put those coins out for auction the price obviously fell and now we can see the same thing happening all over again. Will they auction these coins as well? Time will tell.

Bitcoin price market chart overbought market condition correction formingOverbought condition

The RSI indicator is showing that the price has moved over the overbought line. This along with the fact that we’ve had a crazy rally means that a price correction is imminent. How far will it fall? There is a very strong support level around the $380 mark, but I highly doubt it’s going to fall that low. A more reasonable target would be the $410-$420 area, where the price may linger for a few days before we have a better chance at entering a long position again. That being said, there’s no reason why you should close your position right now if you’re aiming for something bigger!

Share!

Flipping items on the Grand Exchange – A short how to tutorial

Flipping items is not rocket science

Despite what a lot of players think, flipping items is actually pretty simple and straightforward. The idea is to generate a profit by buying items below the average market price and after a while selling these items above the average market price (the buy low, sell high principle that works with any business).

Best items for flipping in the Grand Exchange

Runescape character thinking about flipping items on the Grand ExchangeBefore getting started you should understand that you can’t flip everything. Certain items are simply losing their value all the time, thus making them literally a black hole for your gold coins.

Then there are items that simply won’t sell only at certain times. The Santa Hat, for example, doesn’t sell in the middle of July etc.

Finding profitable items for flipping in GE

The easiest way to find a profitable item is to look for items that are in great demand such as things that are directly linked to skilling. For example herbs, seeds, ores, etc. are all required and in great demand because players are always trying to level up their skills using these items.

After you have chosen your item, it’s time to take a look at the price graph to make sure your items overall price trend is upwards, not downwards. You don’t want to end up with stuff that are clearly losing their value. To do that we simply enter our item name + grand exchange into Google search, for example “iron bar grand exchange”.

Iron bar showing uptrend in the price graphNow that the graph is displayed we can clearly see that the Iron Bar has an overall upward trend. You have to look at the entire graph, not just the last (right side) tip of the graph to understand where the trend is going.

If you don’t understand graphs that well there are plenty of tutorials and guides available online about how to properly analyze graphs and how to spot trends in the price movement. It’s really interesting stuff so I recommend looking into it! ;)

Buying and Selling on the Grand Exchange

After analyzing the market we have finally chosen which item to flip – for this guide, it’s the Iron Bar used mainly in the Smithing skill to make weapons, armor, arrow tips and nails.

The first thing we do is called a test buy. We simply buy one of the Iron Bars and put in a higher price than the average market price to make sure our item buys instantly. This is how we know exactly what the current price of our item is.

Test buy iron bar in the grand exchange for later flipping

As you can see on the picture to the left we entered 567 gp as the price we wanted to buy, but the item actually bought for 566 gp giving us back the change of 1 gp.

We now know that 566 gp is the actual price that Iron Bars are going for in the Grand Exchange at this moment.

Remember the price graph? The trend is clearly upwards so we are pretty confident that we can sell the Iron Bar back to the market for a higher price than 566 gp.

 

Picking the right price for selling

After raising the iron bar price in the grand exchange for 5 percent

The trick is to put the item up for sale and increase its price by five percent. To do that simply click on the +5% button and Grand Exchange will automatically adjust your selling price.

But that’s not the price we want to sell because a lot of other people are probably doing the same.

We need to target the “Desperate buyer” who rushes to GE and makes a buy order immediately with +5% without worrying much about market prices. These type of players just want to receive the item as fast as possible so they can go skilling and advance their levels.

In order to sell to these players the price must be adjusted in a way that it’s still above the overall market price, but below the +5% price. When we adjust our selling price in this way, we make sure the desperate buyer will buy from us first. Makes sense?

Iron Bar sold for 577 gp in the grand exchange of Runescape

Instead of trying to sell for 595 gp (the +5%) we are lowering the price to 577 gp aiming for a quick 11 gp profit per Iron Bar.

As you can see just a few moments later someone had bought our Iron Bar for 577 gp! I am sure if we waited long enough, we could sell it for 595+ as well, because the general price for Iron Bar is currently climbing. For now let’s settle with just 11 gp profit per Iron Bar.

Now we just have to repeat this process and buy 5000 Iron Bars giving us a good 55,000 profit flipping the Iron Bar.

Valuable items = More profits!

The Iron Bar in our example isn’t a valuable item and because of this the profits are smaller too. If you want to make more money flipping items on the Grand Exchange you just have to buy and sell things that cost more. The price difference is bigger there and so are your profits.

NB! I advise you to invest only 10-20% of your entire capital into flipping. This way you can safely trade without losing your entire cash pile should the trend change and prices fall.

Share!