Posts Tagged ‘Debt’

Sandpoint Idaho Real Estate Offers Something for Everyone

November 10th, 2022

Perhaps one of the best things about growing up as a Sandpoint Idaho native is being able to appreciate the beauty of the land and surroundings of such a wonderful place. The Sandpoint Idaho real estate I grew up around inspires and calms. Over the years,Guest Posting whenever I’ve lived away, I always long to return. It is home. There are: big beautiful mountains, lakes, rivers and creeks, evergreen trees and birch stands, wide vistas, hunting and fishing, and of course boating, swimming, and skiing. I remember lots of times crossing the long bridge, as I drove into town, seeing the sky for the first time; again. Recreation is never far and the communities are friendly and approachable. All in all, a nice combination of people and places makes Sandpoint Idaho real estate highly desirable.

Sandpoint sits quietly at the base of Schweitzer ski resort, and on the shores of beautiful Lake Pend Oreille. It is a small town of almost seven thousand, with thousands more in the county. It wasn’t that many years ago when there were no street lights and all the roads in town were two-way. Now there’s one-way traffic and several traffic lights installed just to remind us that we do live in the modern world. Of course, Walmart, McDonalds, and other national chain stores have discovered the place and have become part of the landscape there. But that’s progress, right? At least now, families don’t have to travel to Spokane for all their shopping like we used to do if we wanted more than just the basics. But all this comes with a price; high to some, reasonable to others.

I was talking to a friend of mine the other day who works in the Sandpoint Idaho real estate market, and was wondering how affordable the housing and land are now. Of course, affordability is a relative term. To some who have moved into the area from more lucrative parts of the country, the Sandpoint Idaho real estate market has been a plum to be picked. When you can sell an average house somewhere else for $500K or more and move to Sandpoint and buy a huge piece of property with a lake view or better for half that, life is pretty good, and the deals are a plenty.

The Risks of Bitcoin

October 6th, 2022

The Risks of Bitcoin that investors need to be aware of Risk one-The volatility of bitcoin

Everyone knows how volatile bitcoin is and those who invest in this will see the value of this cryptocurrency fluctuate quite dramatically. Unless you can cope with the rises and falls of bitcoin then investing in bitcoin is not for you. There is little to be gained if the loss of your capital is going to cause you to lose sleep. I cannot stress enough the importance of using your discretionary spending money to play the cryptocurrency market.

What is discretionary spending?

It is money which is spent on travel, eating out, entertainment, hobbies and sports.
You would never spend the rent money or money which has been set aside for your retirement on entertainment such as a day out at the races so you should not use that money for playing the cryptocurrency market either.

Risk two-Hacking

A company called “Cryptopia ” which was an online bitcoin trading platform held funds invested in Bitcoin. It was hacked into and all those with bitcoin invested with cryptopia lost their money. There were some sad stories concerning the large amount of money lost by some individuals.

It has to be repeated that you should never play cryptocurrency money with funds you cannot afford to lose or to place too many eggs in the one basket as many of these investors appear to have done.

The other thing I have to add is that the actual amount of money lost by cryptopia investors is likely to be grossly inflated due to the rising price of bitcoin. If someone invested $1,000 in bitcoin and this rose to $10,000 in a few years only for them to lose the lot. It will go on record that this person has lost 10k when in actual fact, it was just 1k they lost.

Risk three-Lost passwords

An Australian man is locked out of his bitcoin wallet because he cannot even remember his password. The website where he has his bitcoin will lock him out of his wallet permanently if he has made ten failed login attempts. He has made eight. He has over 300k in his bitcoin wallet.

The lesson here is to write down your password and keep it locked away in a safe place.
The other piece of advice is to diversify your portfolio so that if something goes horribly wrong you will not lose too much in one hit.

Risk four-Government controls

Governments have the ability to ban crypto trading; China has done just that. Several agencies in China have joined forces to ban what they describe as “illegal” cryptocurrency activity. This is not to say other countries will follow suit but it just illustrates a point that governments do have the power to do this.

Risk five-Taxation

Two things in life are certain, death and taxes. You can be sure that at some point the taxman will want a piece of your bitcoin pie. Whether it be in the form of a Capital Gains Tax or the increased value of bitcoin. It should be remembered that if you are being taxed on the Capital Gains of your bitcoin then it may be possible to claim tax back on any capital losses. A good accountant will be able to advise you here.

Whatever form of capital gains you are investing in it should always be remembered that when there is the opportunity for capital gains there is also the possibility of capital loss. Investing in cryptocurrency is risky therefore, it cannot be stressed enough that the money you invest in bitcoin must be money you can afford to lose.