Portugal was previously considered <a href="https://www.cnbc.com/amp/2022/02/06/bitcoin-family-moves-to-portugal-crypto-tax-haven.html">a tax haven</a> for cryptocurrency investors, in part due to an effective capital gains rate of zero."There is no specific law, it is just a lack of regulation that led to the zero taxation in Portugal," said Duarte. "This together with an understanding published by the Portuguese tax authority in 2016 meant that only crypto-related businesses can be taxed."

The current capital gains tax rate for financial investment in Portugal is 28%.Portugal's changed stance on taxes brings the country in line with many other nations around the globe. Among them are Australia – where <a href="https://www.coindesk.com/business/2022/05/16/australian-tax-office-warns-crypto-investors-on-capital-gains-obligations/">earlier Monday </a>that country's tax office warned investors of the need to report capital gains and losses on crypto each year – the United Kingdom and the U.S.

Reversing its previous hands-off stance, the nation will impose taxes on the exchange and sale of cryptocurrencies.

crypto

Cryptocurrency

moneyandinvestments

Money & Investments

Portugal Makes U-Turn on Cryptocurrency Tax

Money is the biggest cause of stress in the United States, according to the American Psychological Association.You can also find that back in medical statistics. 75% to 90% of all doctor’s office visits are for stress-related ailments and complaints including chest pain, headaches, high blood pressure, insomnia, and depression.Stressing over money will make you mentally and physically sick. Now, no one likes the fact that money is the most important thing in our society. But it’s the way things are.

Money Stress

Most people assume that more money is the answer.But simply having more income won’t solve your money problems. While we all want to earn more, there are deeper, underlying issues we need to resolve first.The first step to getting rid of money stress and living a healthier, happier life is to identify the specific reasons that are causing you to worry.

Causes of Financial Stress and How We Can Solve Them

Managing money isn’t something we usually learn in school. And if one grew up in a family that lived from paycheck to paycheck, it’s harder to make wise financial decisions as an adult.How you spend, save, get into debt, and invest depends on you. How other people manage their money is insignificant.Solution: Understand how personal finance works. The more you learn about money, investing, and wealth, the better you get at managing your own finances.

Cause 1: A Lack of Financial Literacy

So many of us have all kinds of big desires that are simply not realistic. Look, I’m all about thinking big. But you should never think that life is only good when you live big.It’s easy to get stressed when we don’t achieve our expectations. And in today’s world, everyone seems to have sky-high expectations.Solution: Focus on the process, not the outcomesWhen you set goals, it’s tempting to think about the outcomes first. Everyone wants to get in better shape, travel to nice places, earn more, and so forth.So simply focus on a process you can work on consistently.

Cause 2: Unrealistic Expectations About Life

Many stick to a job they hate because of the “benefits.” That’s how much they prioritize stability.So many of us are in that position. We hate our job, but we’re used to a certain lifestyle, so we need a similar job or income to get by.Sometimes you need to take a step back in the short term to grow in the long term. Solution: Focus on long-term quality of life.

Cause 3: Short-Term Thinking

56% of Americans can’t cover a $1,000 emergency expense with savings.Emergencies happen. It’s not a matter of if but when. Your washer breaks, you slip and injure yourself, a loved one gets sick, and so forth.Solution: Build your emergency fund, little by little. Saving is a habitYou don’t have to build your emergency fund suddenly. Try saving a comfortable percentage of your income today. It’s all about consistency.

No Emergency Fund

There are many things money can buy, but the most valuable of all is freedom. Freedom to do what you want and to work for whom you respect.Earning more is not the solution. More money entraps you, keeps you in shackles. Lesser money, but with more freedom is the key.

Earning More Is Not Enough

Stressing over money will make you literally sick. But simply not thinking about money isn't enough. Here's what you can do instead.

habits

Habits

How to Stop Stressing Over Money - Darius Foroux

A stock market crash refers to a drastic, often unforeseen, drop in the stock market over a single or several days. The sudden drop in stock prices may be influenced by economic conditions, catastrophic events, or speculative elements.

Understanding market crashes

<ul><li>The Great Depression Crash of October 1929. Speculations in commodities such as autos and homes caused share prices to skyrocket, driving up prices in a panic buying mode, but many went into bankruptcy when the market bubble popped.</li><li>The Black Monday Crash of October 1987 is attributed to computer trading, derivative securities, over-evaluation, illiquidity, and trade and budget deficit.</li><li>Technology stocks triggered the Dot-com Crash of 2000-2001.</li><li>The Stock Market Crash of 2007/08  was triggered by the collapse of mortgage-backed securities in the housing sector.</li><li>The COVID Crash of March 2020.</li></ul>

Famous stock market crashes in the US

Circuit Breaker: Level 1 and 2 market-wide circuit breakers suspend trading for 15-minutes and a level 3 halts trading for the rest of the day. This can happen when the S&P 500 falls more than 7% at any time before 3:45 p.m. EST. Plunge protection: Turbulent markets can also be dampened by the purchase of huge quantities of stocks by large entities when prices drop. Big entities hold prices up to prevent individual traders from panic trading.

How to prevent a stock market crash

A stock market crash refers to a drastic, often unforeseen, drop in the prices of stocks in the stock market. The sudden drop in stock prices

Discover the world of business and economics.

economics

Economics

Stock Market Crash

Cryptocurrencies have done a lot of good for the financial world. They have given us a way to democratize finance, eliminate middlemen, lower fees, and a number of other benefits.

In the simplest terms, a master node is a computer or server that has been set up to process Dash transactions quickly, in a method that is quite different from mining (which the Dash network also has). The owner of the master node is rewarded for operating the node with frequent Dash payments. Well, only if you have about $300,000 sitting around. You see, in order to set up a Dash master node, you must have least 1000 units of Dash.

Dash and Master Nodes

Projects like <a href="https://www.coinschedule.com/projects/1280/link-ico.html">ChainLink  </a>are demanding 100 ETH (about $25,000), and Streamr, the platform that I recently wrote about, is asking for a minimum of 5000 Swiss Francs ($5,160). On the official Slack channel, Henri Pihkala stated that: “Bitcoin Suisse (the company helping with the ICO) imposes a minimum of 5000 CHF equivalent, so the minimum cannot, unfortunately, be below that – at least not for the presale. We would certainly like the minimum to be lower.”

Initial Coin Offerings (ICOs)

The <a href="https://dailycryptocurrency.com/cryptocurrency/cryptocurrency-101-proof-work-vs-proof-stake/">proof of stake </a>method of consensus that has been in the news almost constantly ever since Ethereum announced its plans to move to it, and other exciting new currencies like OmiseGo (<a href="https://omg.omise.co/">OMG </a>) and Crypto Improvement Fund (<a href="http://cryptoimprovementfund.io/">CIF </a>) are planning to use it as well. POS has been around for a while, with currencies like PeerCoin, CureCoin, and Clams using it. With POS, there is a big element of chance involved, and it is, in fact, a lot more like a lottery. The more tickets you have, the more likely you are to win. With POS, the more crypto you hold, the more likely you are to successfully get a staking payout. Holding just one or two units of the currency will almost certainly result in you receiving zero stake payouts.

Proof of Stake (POS)

While the crypocurrency world overall has opened up many doors for the less wealthy, it is clear that there are still some things in the crypto world in which only the rich are welcome.

Cryptocurrencies should be inclusive, not exclusive, and these are just a few of the ways that cryptocurrencies are excluding the non-wealthy.

Only The Rich: How Some Cryptocurrencies Unfairly Advantage the Wealthy - Daily Cryptocurrency

<ul><li>Don't save too much as a kid rather use your money to enjoy your time, spend time with friends travel</li><li>You shouldn't because over time the amount of money you make increases</li><li>The amount of money you save is going to be small compared to the amount you make now.</li></ul>

Don't save too much as a Kid

<ul><li>Open an investment account so that you know what the process is like</li><li>Gain knowledge of how the investment process works.</li></ul>

Try and Open An Investment Account

<ul><li>Put a little bit of money into Crypto just to learn about it</li><li>Use Coinbase or any other platform that can help you explore and learn</li><li>The educational value is very high</li></ul>

Invest In Crypto

<ul><li>Make sure that you are putting money and time into books and courses to learn more</li><li>Learn Useful and In-demand skills. Learning to Code is still one of the most quick way to learn how to make money</li></ul>

Invest In Learning

Build a Faselane MindsetRead the book the millionaire Fastlane to get a mindset that can help you make moneyFollow me for the book summary coming soon!

Investing Your Time

<ul><li>Document your journey through many different ways it helps build the craft of writing</li><li>You might build an audience.</li></ul>

Document Your Journey

<ul><li>Read books on how to make more money</li><li>4 Hour Work Weeks</li><li>Dying with 0</li><li>Your money and your life</li></ul>

Become money literate

<ul><li>Try and build a business like selling lemonade, selling candy, or building websites</li><li>Turn your active income into passive income</li></ul>

Try and Build A Business

Wow, this gave me a ton of different advice, follow me for part 2

The first 1,000 people to use this link will get a 1 month free trial of Skillshare: https://skl.sh/aliabdaal04229 Hey friends, this video is about how to invest as a teenager: basically the advice I’d give my 15-year-old self. You might be fairly broke, but that doesn’t mean you can’t build good money habits + make decisions that’ll pay off further down the line. How to Invest for Beginners - https://www.youtube.com/watch?v=gFQNPmLKj1k The Best Book I've Ever Read about Making Money - https://www.youtube.com/watch?v=Gx2vyi4JcV0 The Book That Changed My Financial Life 🤑 - https://www.youtube.com/watch?v=Gg8_TA7U0Uw Revealing My Investment Portfolio - https://www.youtube.com/watch?v=MgI6iquuuzA&ab_channel=AliAbdaal Bitcoin for Beginners (2021) - https://www.youtube.com/watch?v=hXkiAfjFtgU The best summaries of books (Shortform) - https://go.aliabdaal.com/shortform 00:22 Part 1 - Investing your money 00:24 1. The dangers of saving too much 01:39 2. Investment accounts 02:54 3. The power of index funds 03:57 4. Crypto? 05:19 5. Leveling up 06:30 Part 2 - Investing your time 06:45 1. Build a fastlane mindset 07:42 2. Learn useful and in demand skills 09:08 3. Document your learning and your journey i. 10:55 4. Learn about video production 12:45 5. Become money literate 13:57 6. Get a job or work experience 14:30 7. Make things for people you admire, for free 15:42 8. Find a way to build a business 16:45 9. Turn your active income into passive income 18:44 10. Consider outsourcing some work MY FREE ONLINE COURSES: 🚀 Productivity Masterclass - Principles and Tools to Boost Your Productivity - https://go.aliabdaal.com/course/productivity 🎬 Video Editing with Final Cut Pro X - From Beginner to YouTuber - https://go.aliabdaal.com/course/video-editing 🎓 How to Study for Exams - An Evidence-Based Masterclass - https://go.aliabdaal.com/course/studying PART-TIME YOUTUBER ACADEMY: 🍿 My 6-week live online course - https://academy.aliabdaal.com MY FAVOURITE GEAR: 🎥 My YouTube Camera Gear - https://kit.co/AliAbdaal ⌨️ My Keyboard - Wireless Coral mechanical keyboard (Cherry Blue) - https://go.aliabdaal.com/keyboard 📝 My favourite iPad Screen Protector - Paperlike - https://go.aliabdaal.com/paperlike 🎒 My Desk Accessories + Todo List - Ugmonk - https://go.aliabdaal.com/ugmonk MY FAVOURITE SOFTWARE: ✍️ The best summaries of books (Shortform) - https://go.aliabdaal.com/shortform 📚 How I remember what I read (Readwise) - https://go.aliabdaal.com/readwise 🎵 Where I get my Music (amazing for YouTubers) - https://go.aliabdaal.com/epidemicsound 👻 Where I get my Website Themes from - https://go.aliabdaal.com/ghost-themes 👻 My personal Ghost Website Theme - https://go.aliabdaal.com/ghost-theme-ali 🎙 My weekly podcast - https://www.notoverthinking.com My brother and I host a weekly podcast where we discuss happiness, creativity and the human condition. You can find it by searching “Not Overthinking” on any podcast app (eg: Spotify, Apple Podcasts, Google Podcasts etc). BE MY FRIEND: 💌 Sign up to my weekly email newsletter - https://aliabdaal.com/friendzone/ 🌍 My website / blog - https://www.aliabdaal.com 📸 Instagram - https://instagram.com/aliabdaal 🐦 Twitter - https://twitter.com/aliabdaal 💙 The Friendzone Discord - https://discord.gg/Dh2kGavffd 🎮 Twitch - https://twitch.tv/aliabdaal WHO AM I: I’m Ali, a YouTuber, podcaster, soon-to-be author and ex-Doctor working in London, UK. I make videos that explore the strategies and tools that help us live happier, healthier and more productive lives. I also have a weekly podcast called Deep Dive (https://www.youtube.com/channel/UChfo46ZNOV-vtehDc25A1Ug), and I write a weekly email newsletter that contains some quick thoughts + links to interesting things (https://email.aliabdaal.com). GET IN TOUCH: If you’d like to talk, I’d love to hear from you. Tweeting @AliAbdaal directly will be the quickest way to get a response, but if your question is very long, feel free to email me at hi@aliabdaal.com. I try my best to reply to things but there sadly aren't enough hours in the day to respond to everyone 😭 PS: Some of the links in this description are affiliate links that I get a kickback from 😜

personaldevelopment

Personal Development

The first 1,000 people to use this link will get a 1 month free trial of Skillshare: https://skl.sh/aliabdaal04229

Hey friends, this video is about how to invest as a teenager: basically the advice I’d give my 15-year-old self. You might be fairly broke, but that doesn’t mean you can’t build good money habits + make decisions that’ll pay off further down the line.

How to Invest for Beginners - https://www.youtube.com/watch?v=gFQNPmLKj1k
The Best Book I've Ever Read about Making Money - https://www.youtube.com/watch?v=Gx2vyi4JcV0
The Book That Changed My Financial Life 🤑
 - https://www.youtube.com/watch?v=Gg8_TA7U0Uw
Revealing My Investment Portfolio
 - https://www.youtube.com/watch?v=MgI6iquuuzA&ab_channel=AliAbdaal
Bitcoin for Beginners (2021) - https://www.youtube.com/watch?v=hXkiAfjFtgU
The best summaries of books (Shortform) - https://go.aliabdaal.com/shortform

00:22 Part 1 - Investing your money
00:24 1. The dangers of saving too much
01:39 2. Investment accounts
02:54 3. The power of index funds
03:57 4. Crypto?
05:19 5. Leveling up
06:30 Part 2 - Investing your time
06:45 1. Build a fastlane mindset
07:42 2. Learn useful and in demand skills
09:08 3. Document your learning and your journey i.
10:55 4. Learn about video production
12:45 5. Become money literate
13:57 6. Get a job or work experience
14:30 7. Make things for people you admire, for free
15:42 8. Find a way to build a business
16:45 9. Turn your active income into passive income
18:44 10. Consider outsourcing some work


MY FREE ONLINE COURSES:
🚀  Productivity Masterclass - Principles and Tools to Boost Your Productivity - https://go.aliabdaal.com/course/productivity
🎬  Video Editing with Final Cut Pro X - From Beginner to YouTuber - https://go.aliabdaal.com/course/video-editing
🎓  How to Study for Exams - An Evidence-Based Masterclass - https://go.aliabdaal.com/course/studying

PART-TIME YOUTUBER ACADEMY:
🍿 My 6-week live online course - https://go.aliabdaal.com/ptya_aliabdaal
CREATORPRENEUR
💰 My flag-ship course for scaling up your creative side-hustle - https://creatorpreneur.academy/course


YOUTUBE FOR BEGINNERS COURSE
📸 This is for anyone who'd like to start a YouTube channel. You'll learn everything you need to get started as a YouTuber including how to script, shoot, and edit your first video - https://go.aliabdaal.com/course/YouTube-for-Beginners



MY FAVOURITE GEAR:
🎥  My YouTube Camera Gear - https://kit.co/AliAbdaal
⌨️  My Keyboard - Wireless Coral mechanical keyboard (Cherry Blue) - https://go.aliabdaal.com/keyboard 
📝  My favourite iPad Screen Protector - Paperlike - https://go.aliabdaal.com/paperlike 
🎒 My Desk Accessories + Todo List - Ugmonk - https://go.aliabdaal.com/ugmonk

MY FAVOURITE SOFTWARE:
✍️ The best summaries of books (Shortform) - https://go.aliabdaal.com/shortform
📚  How I remember what I read (Readwise) - https://go.aliabdaal.com/readwise 
🎵  Where I get my Music (amazing for YouTubers) - https://go.aliabdaal.com/epidemicsound
👻 Where I get my Website Themes from - https://go.aliabdaal.com/ghost-themes
👻 My personal Ghost Website Theme - https://go.aliabdaal.com/ghost-theme-ali

🎙 Deep Dive Podcast - https://www.youtube.com/c/DeepDivewithAliAbdaal/
The podcast that delves into the minds of entrepreneurs, creators and other inspiring people to uncover the philosophies, strategies and tools that help us live happier, healthier and more productive lives. You can find it by searching “Deep Dive with Ali Abdaal” on any podcast app (eg: Spotify, Apple Podcasts, Google Podcasts etc).

BE MY FRIEND:
💌  Sign up to my weekly email newsletter - https://aliabdaal.com/friendzone/
🌍  My website / blog - https://www.aliabdaal.com 
📸  Instagram - https://instagram.com/aliabdaal
🐦  Twitter - https://twitter.com/aliabdaal
💙  The Friendzone Discord - https://discord.gg/Dh2kGavffd
🎮  Twitch - https://twitch.tv/aliabdaal

WHO AM I:
I’m Ali, a YouTuber, podcaster, soon-to-be author and ex-Doctor working in London, UK. I make videos that explore the strategies and tools that help us live happier, healthier and more productive lives. I also have a weekly podcast called Deep Dive (https://www.youtube.com/channel/UChfo46ZNOV-vtehDc25A1Ug), and I write a weekly email newsletter that contains some quick thoughts + links to interesting things (https://email.aliabdaal.com).


GET IN TOUCH:
If you’d like to talk, I’d love to hear from you. Tweeting @AliAbdaal directly will be the quickest way to get a response, but if your question is very long, feel free to email me at hi@aliabdaal.com. I try my best to reply to things but there sadly aren't enough hours in the day to respond to everyone 😭

PS: Some of the links in this description are affiliate links that I get a kickback from 😜

📚 Check out my first book Feel-Good Productivity here: https://www.feelgoodproductivity.com/

Hey, I'm Ali, a doctor turned entrepreneur, and the world’s most followed productivity expert 😜 

On this channel, we explore evidence-based strategies and tools that can help us be more productive, and build a life that we love. 

If that sounds interesting, consider subscribing! See you in the next video x

Ali Abdaal

Investing Advice for Teenagers (2023)

Investing Advice for Teenagers (2022)

Springer Nature supports the United Nations’ Sustainable Development Goals and the researchers and practitioners in policy and business tirelessly working towards them. For Mental Health Month we spoke to Dr Jack Tsai, the Editor-in-Chief of npj Mental Health Research.

I would describe my work as focused on innovative models of collaborative care targeting the needs of adults with serious mental health and housing needs. Most of this work has focused on homeless populations and ways to engage and provide behavioral health, primary care, and social services to them.

Please tell us about the nature of your work.

Not everybody is interested or capable of receiving traditional office-based mental health care for a variety of reasons. So the challenge I am seeking to undertake is to reach, engage, and serve those who need other ways to receive mental health care. This can be through new person-based approaches like through peer specialists, through non-traditional settings like legal aid offices, or new modalities like tele-health or virtual care.

Does your work intend to directly address ways in which we can improve mental health care services or access to care? 

My short-term goal is to develop interventions that are novel, different, and exciting to me and recipients. As one of my mentors often liked to say, most interventions do not work. But even if the interventions don’t end up working, it’s the adventure of science and research to develop new things and test them.Long-term goal, it may sound strange, is to understand how and when people can be weaned off interventions. Many interventions, whether they are medications, therapies, or social services, are offered with an indefinite time period.

What are the short and long-term goals of your work?

Like many people, policymakers are busy people so providing short concise ways to communicate to them (briefs, infographics, video clips) are important. In your communications, it should be clear what your ASK is and how it may benefit others. So far, my role in policy activities has been to educate, describe empirical evidence, and outline pros and cons of different approaches. By being impartial, one remains a trusted source of data and information.

What do you think is the most productive way that researchers can engage policy makers? 

Since I work in public health, public engagement is an essential component of the work of me and my colleagues. In other fields, public engagement often occurs at the end of the project when the findings are ready to be disseminated to the public.

What does public engagement look like in your field and how important is it?

However, in public health, public engagement can occur during the development of a project to obtain community buy-in, it can occur mid-way into the project to help troubleshoot some issues, and it occurs at the end of the project during the dissemination stage. Engaging the public and communities in which you are working in helps keep projects grounded, relevant, and invested in by the community. Engaging the public also allows you to receive constructive comments and keeps your work honest.

Public Engagement

I would like to see more concerted efforts to combine pharmacotherapy and psychotherapy. Many prescribers know little about psychological therapy and many therapists know little about medications. I’m fortunate to have been trained as a clinical psychologist to provide therapy but I also have a master’s degree in clinical psychopharmacology, so I understand the value of medications.

What progress would you like to see next towards the improvement of mental health care, worldwide and locally?

Many conditions are best served by some combination of medication and therapy, and there are also many opportunities for both of these to also be combined with complementary and alternative medicine approaches as well.How can progress in science & research contribute to the improvement of mental health care access and support the fight against stigma?Technological advances have already contributed greatly to improving access to mental health care and reducing stigma. For example, online resources and social media has destigmatized the many ways that people can and should seek help.

Science & Research

I expect new technologies will continue to improve things in this respect. However, I think it’s also important to be careful about unintended consequences. In efforts to reduce stigma, we don’t want to trivialize mental illness, over-pathologize natural human reactions, or dismiss human propensity for resilience. Of course, it’s a delicate balance that progress in science and research can help tread.  Discover Springer Nature's SDG3 Hub about Good Health and Well-Being.

Springer Nature

About the author: Jack Tsai, PhD MSCP serves as Campus Dean and Professor of Public Health at UTHealth, and Research Director for the U.S. Department of Veterans Affairs Homeless Programs Office. He is a clinical psychologist and previously served as a professor and directed the Division of Mental Health Services Research at Yale School of Medicine for a decade. Dr. Tsai currently serves as Editor-in-Chief for npj Mental Health Research.

About the author

Springer Nature supports the United Nations’ Sustainable Development Goals and the researchers and practitioners in policy and business tirelessly

health

Health

mentalhealth

Mental Health

Mental Health is Important for Public Health | For Researchers

In the 1860s and 1870s, the American economy went through perhaps the greatest transformation in its history (when rail road built and wall street emerge). <ul><li>If you were born in the late 1840s you missed it. You were too young to take advantage of that moment</li><li>If you were born in the 1820s you were too old: your mind-set was shaped by the pre-Civil War paradigm.</li><li>But there was a particular, narrow nine year window (1830s) that was just perfect for seeing the potential that the future held.</li></ul>

The Year You Are Born In Matter

<ul><li>John D. Rockefeller, 1839</li><li>Andrew Carnegie, 1835</li><li>Frederick Weyerhaeuser, 1834</li><li>Jay Gould, 1836</li><li>Marshall Field, 1834</li><li>George F. Baker, 1840</li><li>Hetty Green, 1834</li><li>James G. Fair, 1831</li><li>Henry H. Rogers, 1840</li><li>J. P . Morgan, 1837</li><li>Oliver H. Payne, 1839</li><li>George Pullman, 1831</li><li>Peter Arrell Brown Widener, 1834</li><li>Philip Danforth Armour, 1832</li></ul>

Successful People Who Born In 1830s

Below is a list of people who born in the 1950s, the best year to be born as they will be in their 20s when the computer and internet start booming (1970s)

<ul><li class="ql-align-justify">Bill Gates: October 28, 1955</li><li class="ql-align-justify">Paul Allen: January 21, 1953</li><li class="ql-align-justify">Steve Ballmer: March 24, 1956</li><li class="ql-align-justify">Steve Jobs: February 24, 1955</li><li class="ql-align-justify">Eric Schmidt: April 27, 1955</li><li class="ql-align-justify">Bill Joy: November 8, 1954</li><li class="ql-align-justify">Scott McNealy: November 13, 1954</li><li class="ql-align-justify">Vinod Khosla: January 28, 1955</li><li class="ql-align-justify">Andy Bechtolsheim: September 30, 1955</li></ul>

Successful People Who Born In 1950s

<ul><li>This doesn't means that every software tycoon in Silicon Valley was born in 1955, or every business titan in United States was born in mid 1830s</li><li>But there are very clear patterns and what's striking is how little we seem to want to acknowledge them. We pretend that success is exclusively a matter of individual merit.</li><li>They are the people who were given a special opportunity to work really hard and seized it, and who happened to come of age at a time when that extraordinary effort was rewarded by the rest of society</li></ul>

The other interesting thing about that ten thousand 
hours, of course, is that ten thousand hours is an enormous amount of time. It's all but impossible to reach that number all by yourself by the time you're a young adult. You have to have parents who encourage and support you. You can't be poor, because if you have to hold down a part-time job on the side to help make ends meet, there won't be time left in the day to practice enough. In fact, most people can reach that number only if they get into some kind of special program-like a hockey all-star squad.

From the bestselling author of Blink and The Tipping Point, Malcolm Gladwell's Outliers: The Story of Success overturns conventional wisdom about genius to show us what makes an ordinary person an extreme overachiever. Why do some people achieve so much more than others? Can they lie so far out of the ordinary? In this provocative and inspiring book, Malcolm Gladwell looks at everyone from rock stars to professional athletes, software billionaires to scientific geniuses, to show that the story of success is far more surprising, and far more fascinating, than we could ever have imagined. He reveals that it's as much about where we're from and what we do, as who we are - and that no one, not even a genius, ever makes it alone. Outliers will change the way you think about your own life story, and about what makes us all unique. 'Gladwell is not only a brilliant storyteller; he can see what those stories tell us, the lessons they contain' Guardian 'Malcolm Gladwell is a global phenomenon ... he has a genius for making everything he writes seem like an impossible adventure' Observer 'He is the best kind of writer - the kind who makes you feel like you're a genius, rather than he's a genius' The Times

books

Books

From the bestselling author of Blink and The Tipping Point, Malcolm Gladwell's Outliers: The Story of Success overturns conventional wisdom about genius to show us what makes an ordinary person an extreme overachiever. Why do some people achieve so much more than others? Can they lie so far out of the ordinary? In this provocative and inspiring book, Malcolm Gladwell looks at everyone from rock stars to professional athletes, software billionaires to scientific geniuses, to show that the story of success is far more surprising, and far more fascinating, than we could ever have imagined. He reveals that it's as much about where we're from and what we do, as who we are - and that no one, not even a genius, ever makes it alone. Outliers will change the way you think about your own life story, and about what makes us all unique. 'Gladwell is not only a brilliant storyteller; he can see what those stories tell us, the lessons they contain' Guardian 'Malcolm Gladwell is a global phenomenon ... he has a genius for making everything he writes seem like an impossible adventure' Observer 'He is the best kind of writer - the kind who makes you feel like you're a genius, rather than he's a genius' The Times

Malcolm Gladwell is the author of five New York Times bestsellers—The Tipping Point, Blink, Outliers, What the Dog Saw, and David and Goliath. He is also the co-founder of Pushkin Industries, an audio content company that produces the podcasts Revisionist History, which reconsiders things both overlooked and misunderstood, and Broken Record, where he, Rick Rubin, and Bruce Headlam interview musicians across a wide range of genres. Gladwell has been included in the TIME 100 Most Influential People list and touted as one of Foreign Policy's Top Global Thinkers.

Malcolm Gladwell

Outliers

Fortress DAO is doomed. The question is how it dies. Fortress is an also-ran fork of Olympus DAO running on the Avalanche blockchain with a mere $14M in its treasury (a shadow of the more than $500M+ still backing Olympus’s OHM), but feelings are running very high right now over what should happen with that money.  The problem is that the $14M isn’t really in its treasury anyway. It’s in a separate project, one that was funded by the Fortress DAO treasury, but is now completely in control of its chief technical officer, Avraham Eisenberg, who has shown no interest in giving it back.

Community members that spoke to The Defiant predicted the matter could very well find its way to court. But for now, code is very much law and that particular law is not on the Fortress DAO community’s side.  But the story also raises a question much larger than this tiny DAO: Does its inevitable collapse foreshadow future meltdowns at other DAOs whose governance does not, in fact, run on-chain?

Inevitable Collapse

But the implications go further. Anyone paying attention knows that many of crypto’s DAOs aren’t really that decentralized. Sure, they all have a governance token, but the power to spend money and change code still, in all too many cases, actually rests in a small group of insiders who have control of a mult-sig wallet that makes decisions.It’s like a small republic that spent too much money on their military. At a certain point, the legislature only remains in charge as long as the generals let them say they are. On the blockchain, those who can sign transactions do.

But the real power in Fortress DAO isn’t even its own smart contracts, it’s the assets. The real assets, the assets that could actually be traded outside of the Fortress DAO ecosystem, all the $14M worth of stuff that left its smart contracts and went into FUSD. So, Eisenberg has everyone over a barrel, because all the real FortressDAO assets are inside FUSD and FORT holders have no direct power to make him give those funds back.

Fortress DAO is doomed. The question is how it dies.

Another Fork Bites the Dust: The Looming Fall of Fortress DAO and the Perils of Off-Chain Governance - The Defiant

“What can you buy with it?” someone will ask, at which point the other person will shrug back “JPEGs on the internet?” The truth is, you can use crypto to buy anything you want in the material world. You can even enjoy the same tax perks used by the wealthy when they buy things, by borrowing against your assets instead of selling them.

But that’s not even the best part. The collateral I put up for the loan (all loans in DeFi are overcollateralized – more on that later), still generates yield while I’m borrowing against it.  You heard that right. I’m being paid to take out the loan, and my collateral is currently yielding roughly five times the loan interest rate. That’s enough to pay the interest, monthly HOA fees, property taxes, maintenance, and still have some left over.

Lending platforms like these aren’t new, but where it gets really interesting is the type of collaterals Abracadabra is able to accommodate. By building on top of existing Defi platforms including Curve.Finance and Convex.Finance, Abracadabra is able to allow users to collateralize yielding assets.

Buying A Condo With Abracadabra

Well, Curve.Finance has the perfect product for you. Tricrypto2 is a yield-generating position that maintains equal exposure to BTC, ETH, and the stablecoin USDT. That means if Bitcoin and Ethereum each fall by 30%, the Tricrypto2 position will only be down 20%, and vice versa. It gives investors some protection against volatility – and generates trading fees in the meantime.

Abracadabra makes it easy to set the exact LTV you want, and even take on additional leverage. (risky!) Now, a 90% loan to value ratio would be very risky, as the platform will automatically liquidate your position if the price drops more than 10% – effectively closing out the loan and leaving you with just the funds you borrowed. But there’s no need to borrow to the limit, as users can borrow at whatever Loan-to-Value makes them feel most comfortable.

First off, Abracadabra charges a 0.5% borrow fee up-front that adds $3600 to my outstanding loan balance. The 0.5% borrow fee is the same for every collateral type on Abracadabra, while the other parameters vary depending on the collateral pledged. The interest rate on the loan is fixed at 3.5%, which on my borrowed amount of $723,600 (720K + the borrow fee) equates to $25,326/year or $2,110/month.

The Math Behind a Profitable DeFi Loan

Unrelated to the loan but still relevant, my HOA fees are $860 per month and property taxes come out to around $1000 per month. So, my total carrying cost of the loan + home expenses are  $3970/month Meanwhile, the yield on my collateral of $1.2M in Tricrypto2 (necessary for a relatively safe 60% LTV) is ~15% (variable). That works out to $180,000/year or $15,000/month. The position yield for Tricryopto2 (shown above) is variable. I used a conservative 15% estimate for these calculations.

So, the yield on my collateral pays for the interest on the loan, HOA fees, and property taxes with an additional $11k/month left over*, which I can use to start paying down the loan principal. It gets better. As I pay down the loan principal, the 3.5% interest charge starts to go down (as the interest is applied on a reducing balance). Very different from the “pay the interest first” methodology that you’d see on any regular home mortgage. These services are made to work in our best interests, not the board of directors of BofA. Welcome to the new age of financial services.

Now, if you’re not in the market for something as “big” as real estate, you might be wondering: “this sounds cool, but how does it apply to me?”  Well, the point is that this same process and strategy works for practically any significant purchase you might make. Now, you can buy the things you want while remaining invested in crypto, avoiding costly capital gains, and continuing to keep earning yield in DeFi. Many people work towards building an investment account for years, only to have to liquidate their holdings to pay for an unexpected expense. A car crash, a hospital bill, having to miss time at work, are all things that all too often can derail even the best-laid investment plans and make it that much harder to get ahead.

A Universal Strategy

Wealthy people have been borrowing against their assets – deferring taxes and remaining invested – for generations through accounts and personal brokers at the likes of JP Morgan or Goldman Sachs. Now, anyone can do it, and in a fraction of the time. That’s the real magic behind DeFi.

This DeFi user bought his dream home with an overcollateralized loan against his crypto asset.

Buying Real World Assets By Leveraging Crypto - The Defiant

Never underestimate the hard work and lower probability of success, just because we are shown more successful people than many more actual failures.It does not mean, in any way, that you should not dream big. It just says that don't get overawed by the number of success stories you read and assume that success would be easy. No one prints the failure stories.

1. Hard Work

It is a tendency to interpret new information so that it becomes compatible with our existing theories.Warren Buffet has seen people losing money with this because they ignore facts that contradict the theory in the mind of the investor.Disconfirming evidence must be sought out to beat this theory.

2. Confirmation bias is the mother of all misconceptions.

If you ever find yourself in a tight unanimous group, you must speak your mind, even if your team does not like it, and even if it means risking expulsion from the warm nest.And if you lead a group, appoint someone as devil's advocate.He or she will not be the most popular member of the team, but definitely the most important.

 3. Speak your mind

Send an email to 10,000 people with the stock market predictions by dividing them into 2 groups - telling reverse prediction to each group. Prediction for one of the groups will come true.Send a new prediction to the 5,000 whom you predicted correctly earlier - again after dividing them into 2 groups...carry on like this, and the last 100 would consider you as a genius. People get inducted into a decision based on history without thinking logically.

4. Induction

The fear of losing something motivates people more than the prospect of gaining something of equal value.

5. Loss Aversion 

When it comes to compounding, don't trust your intuition - you have no idea how powerful it is.

6. Compounding

99% Fat-Free product seems more healthy than a product with 1% Fat.

7. It is not what you say, but how you say, that's important. 

There is no 3rd category of passive onlookers.

8. If you are not a part of the solution, you are definitely a part of the problem.

Follow your passion even if you have to do away with part of your income for that

9. Passion 

Whenever you are dealing with averages, be careful of the distribution behind them. A Bill Gates monthly income in a group of 50 ordinary citizens can give an extremely misleading average.

10. Averages

10 Powerful Lessons of the book “The Art of Thinking Clearly” 

A world-class thinker counts the 100 ways in which humans behave irrationally, showing us what we can do to recognize and minimize these “thinking errors” to make better decisions and have a better life Despite the best of intentions, humans are notoriously bad—that is, irrational—when it comes to making decisions and assessing risks and tradeoffs. Psychologists and neuroscientists refer to these distinctly human foibles, biases, and thinking traps as “cognitive errors.” Cognitive errors are systematic deviances from rationality, from optimized, logical, rational thinking and behavior. We make these errors all the time, in all sorts of situations, for problems big and small: whether to choose the apple or the cupcake; whether to keep retirement funds in the stock market when the Dow tanks, or whether to take the advice of a friend over a stranger. The “behavioral turn” in neuroscience and economics in the past twenty years has increased our understanding of how we think and how we make decisions. It shows how systematic errors mar our thinking and under which conditions our thought processes work best and worst. Evolutionary psychology delivers convincing theories about why our thinking is, in fact, marred. The neurosciences can pinpoint with increasing precision what exactly happens when we think clearly and when we don’t. Drawing on this wide body of research, The Art of Thinking Clearly is an entertaining presentation of these known systematic thinking errors--offering guidance and insight into everything why you shouldn’t accept a free drink to why you SHOULD walk out of a movie you don’t like it to why it’s so hard to predict the future to why shouldn’t watch the news. The book is organized into 100 short chapters, each covering a single cognitive error, bias, or heuristic. Examples of these concepts include: Reciprocity, Confirmation Bias, The It-Gets-Better-Before-It-Gets-Worse Trap, and the Man-With-A-Hammer Tendency. In engaging prose and with real-world examples and anecdotes, The Art of Thinking Clearly helps solve the puzzle of human reasoning.

A world-class thinker counts the 100 ways in which humans behave irrationally, showing us what we can do to recognize and minimize these “thinking errors” to make better decisions and have a better life Despite the best of intentions, humans are notoriously bad—that is, irrational—when it comes to making decisions and assessing risks and tradeoffs. Psychologists and neuroscientists refer to these distinctly human foibles, biases, and thinking traps as “cognitive errors.” Cognitive errors are systematic deviances from rationality, from optimized, logical, rational thinking and behavior. We make these errors all the time, in all sorts of situations, for problems big and small: whether to choose the apple or the cupcake; whether to keep retirement funds in the stock market when the Dow tanks, or whether to take the advice of a friend over a stranger. The “behavioral turn” in neuroscience and economics in the past twenty years has increased our understanding of how we think and how we make decisions. It shows how systematic errors mar our thinking and under which conditions our thought processes work best and worst. Evolutionary psychology delivers convincing theories about why our thinking is, in fact, marred. The neurosciences can pinpoint with increasing precision what exactly happens when we think clearly and when we don’t.Drawing on this wide body of research, The Art of Thinking Clearly is an entertaining presentation of these known systematic thinking errors--offering guidance and insight into everything why you shouldn’t accept a free drink to why you SHOULD walk out of a movie you don’t like it to why it’s so hard to predict the future to why shouldn’t watch the news. The book is organized into 100 short chapters, each covering a single cognitive error, bias, or heuristic. Examples of these concepts include: Reciprocity, Confirmation Bias, The It-Gets-Better-Before-It-Gets-Worse Trap, and the Man-With-A-Hammer Tendency. In engaging prose and with real-world examples and anecdotes, The Art of Thinking Clearly helps solve the puzzle of human reasoning.

Rolf Dobelli is a Swiss author and businessman. He began his writing career as a novelist in 2002, but he is best known internationally for his bestselling non-fiction The Art of Thinking Clearly (2011, English 2013), for which The Times has called him "the self-help guru the Germans love".

Rolf Dobelli

The Art of Thinking Clearly

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