Bitcoin and Cryptocurrency quick start guide

Prior to Christmas a lot of people asked me my opinion on cryptocurrency and bitcoin, so I put together the basic guide below.

I skipped the ‘what is bitcoin’ and jumped straight into ‘how to get started’. I'm not a guru or trying to sell you anything, just sharing some basic information below.

Here is my quick background. I've just started getting into Crypto seriously now...

I was going to mine Bitcoin ~5 years ago but couldn't get the rig I bought set up, so sold it on.

Then I spoke to my cousin about it a couple of years ago, to which he said “it's too late, prices are too high.” - I took his word on it and missed out again.


Now I'm looking at speaking to only informed people who are actively buying and trading, as it's only their opinion that counts - and learning from experts who do analyse the underlying trends, forecasts and fundamentals. Also having a group for active traders to share knowledge with each other. If you're an active trader/buyer – you can skip this mini-guide. It's really for beginners only.

There are a lot of 'scammy' looking companies, making big promises and offering guaranteed returns (!?) trying to ride the back of Bitcoin and crypto - but of course you have to join their scheme to participate – and you pay commissions and don't have control of your money or crypto wallets.

- Remember: Don't ever abdicate your responsibility to someone else to learn about investing your money.

- Also remember it is speculative so put in what you're comfortable with and can afford to lose.

That's right, if you can't sleep at night because of the amount you have in Bitcoin/Crypto – you're putting in too much money!

I'd recommend putting in £500-£1000 max. initially.

If just starting and can only afford a small amount, do only £100.

Get started TODAY – as once you have some money at stake, you will learn a lot faster and other traders are more likely to discuss other coins and methods of trading with you.

Once you build your confidence and know how it works you will want to look at putting in more and also buying Altcoins (alternative coins).

You can get the main coins Bitcoin, Ethereum, Litecoin directly from the Coinbase platform. It's quite easy to use, so split money across them evenly.

My personal strategy will be to Buy and Hold long-term (at least 12 months to start with) - and check in monthly to see what is worth keeping, buying or maybe selling.

It's best to avoid daily news and price fluctuations, as if your blood pressure can't take big gains and swings over the short to medium term, this is not for you! Your friends who don't own any, will just try to put you off, as they're either 'afraid' or 'bitter' they're not Bitcoin millionaires already ;-)

Ask them if they're interested in Bitcoin, if they waffle about some 'fear' news story, don't bother them. You will find a couple who are active and you can discuss crypto with.

The platform recommendations below are purely because I use these independent trading platforms to buy/sell Cryptocurrency.

I'm sharing a couple of referral links too, as they will give a small bonus to both of us when used.

You can use other platforms or remove the referral part of the links if you don't like people getting paid for making recommendations. I added them to compensate for my time to put this quick start guide together after investing hours of my time to find out what works.

Anything from these links is small and incidental, you need to focus on actually buying and trading the cryptos, not getting referrals to make money (hence I won't be upset if you don't click on the links or take the Coinbase bonus).

Coinbase is the easiest platform to use for beginners to get started. This is what I used.

This link will give you $10/£7 free bitcoin when you buy $100(£74) worth of bitcoin using the special link below.

They also do a full Know Your Client with ID required etc. before you can buy.
https://www.coinbase.com/join/5a355dfdc3aba20156ad82a8

This is the referral link to get the free bitcoin. If you use this link to sign up to Coinbase we'll BOTH receive ten dollars of free coins when you purchase $100 or more.

[Coinbase do not accept deposits from Nationwide Bank] You can buy with a bank card though.

You can also buy coins locally from people for Cash. Take a look at this site here:
https://localbitcoins.com/?ch=mvrz

There are also ATM's in various places to buy bitcoin.
https://coinatmradar.com/country/225/bitcoin-atm-united-kingdom/

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Popular Exchanges for more coins
Bittrex.com (US based, Gov compliant - Beware Bittrex will comply with harsh tax laws in US) Bitstamp.net
Kraken.com

Jan 2018 Update: Above were all slow at verifying accounts post Xmas rush – delays!

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Exchange with Altcoins that are currently OPEN for registrations (many have been overwhelmed with applications since Xmas and pending verification on accounts)

For Altcoins you can use...

Binance platform (I use this) - once again they do a full Know Your Client with ID
https://www.binance.com/?ref=18069932

Kucoin platform (I have an account) - easy & quick to set up account
https://www.kucoin.com/#/?r=7KNR3x

This is not a referral method to make money, just a small bonus for inviting people. It costs you nothing to use this link - and you can then create your own to invite people.

Another exchange is CoinFloor but min deposit is £2500 to use this platform
https://www.coinfloor.co.uk/ (min deposit £2500)

Note: For Altcoin purchase I found it cheaper to buy ETH and then transfer ETH from Coinbase (rather than BTC)

There will be some MLM’s out there to avoid and new ICO coins not listed to trade so avoid them or do proper due diligence. Often the money you 'invest' is being used to pay MLM up-line commissions. Learn how to trade cryptocurrencies and be responsible yourself for putting your own money directly into trading.

Regards,

Bobby

Join the Meetup Group at:
https://www.meetup.com/Milton-Keynes-Bitcoin-Cryptocurrency-Trading-Meetup/

And the Milton Keynes Crypto Facebook group here:
https://www.facebook.com/groups/2018841251465762/

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Disclaimer: Any investment carries a degree of risk so please do your own due diligence and play safe by only contributing money you can afford to lose. Play safe, play smart but be sure to play!


Extra info...

Wallet Creation when holding coins long term

Whilst your coins are on the Exchange platforms, they could be hacked or lost.

Initially getting started is more important than trying to figure everything out first.

Protect your login details and wallet addresses on the exchange, as you would your bank account details, and don't ever share the 'secret' addresses.

If you are putting in a considerable sum of money, then you need to get yourself sorted with some wallets and learn the method of 'cold storage'

You'll find more info at the sites below.

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www.Bitaddress.org to create a wallet

Move cursor... use paper wallet

Generate 1 address, encrypt... use passphrase

SHARE Address to give to people to 'receive' and 'load'

SECRET Address to 'spend'

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www.myetherwallet.com

Enter Password

Create New Wallet

Save your Keystore File

Download Keystore File (UTC / JSON)

... I understand

... Save Your Private Key

... Print Paper Wallet

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Desktop Wallet

https://jaxx.io/

Download... download

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The real value of a meal deal

Next time you walk past a homeless person in the street and into a shop to buy some more useless crap - why not think of them and buy them some food that you feel they'd like to eat!

Then you can give it to them on the way out, as you go back out into the cold night.
Does it really cost that much to care?

Sometimes people just need to eat.

Yes, they are there. Yes, you did see and 'ignore' them. Yes, they are cold. And yes, those selling The Big Issue are actively trying to make a difference without just asking for charity.

Your attitude towards others shows the world what you are like. If you believe you are better than that, behave better and love others, as much as the love that is due and coming to you.

So stop talking about making a difference and pretending you care. Show it!

It doesn't cost more than the price of a sandwich and a drink to show you care about life.

Life shouldn't be about how much money you put into your pockets but how much value you put back into the world!

Planet and Principles for Sale?

Having mentioned to a friend the other day that I was looking for work - but had decided it's important to work somewhere with ethics and morals, he asked for some examples of places where these are limited.

So I mentioned the Councils where they do everything they can to run as a 'business' whilst pretending to work for the people.  The Civil servants actually act like your bosses and require many forms to be filled in, so they can pass paperwork around like trees are going out of fashion (which they are) and justify other jobs.  Increasing Council Tax and providing no service, whilst outsourcing jobs and hiring people from overseas. Nothing says 'F*** You' to the people like a Council that takes money from people that live in it's Borough, doesn't provide service and then gives the money and jobs to those from outside.

I quoted people I know who had worked for Banks and earned in the region of up to £500 per day for Project management and IT work (yes Banks have more money than you think and when they need more they just tap up the tax-payers account through their own friendly bank, the Government). Where working in 'that environment' is almost soul destroying.
For Banks to be able to afford to pay people this kind of money whilst they continue questionable business practices, whilst charging interest on money they 'lend' but don't really have (yes it's true), harass people and force people out of homes by any means necessary.  Just another day at your national bailed out Bank!

Oil companies are pumping more out of the ground, spilling it wherever and are only profit focused not planet focused.  Yes we ALL live on this planet, not just CEO's and shareholders.  

Do you know the majority of money you pay for your fuel at the Petrol stations goes to the Taxman and Government?  What has your Government done for you recently, other than cut-backs and taken more?

Governments are taking part in Illegal Wars, spending tax-payers to bring 'Democracy' to countries which were probably doing OK without it.  In the process murdering people, collateral damage is a nice desensitised word for the death of civilians and human beings.  Incidentally many of these countries have lots of Oil, were debt free and one even wanted to use real money in the form of the Libyan Gold Dinar - so American and European paper currency would have been worthless and the world economy destabilised (even more than what the Bankers did to them).  Yes I know what the pop-News says (BBC, CNN, Fox etc..) but I just wanted to share facts to balance the PR Media spin.

So the general population and people are being raped of their wealth as bills go up and incomes go down!  Whilst the Govt and Banks printing presses devalue the little you may have had in your pocket.

Banks are providing loans to Bomb manufacturers.  And what were once great Engineering companies to work for, that the Nation grew on, are now involved in Arms Manufacture too.  Just because they make a component doesn't make it OK.  A gun would be useless if the trigger maker or the bullet producer or barrel manufacturer just said "No, I don't want anyone to die today just so I can get paid".


Do you know what my friend said to me…
"If it was a choice between principles and survival (in the form of money), I know which I'd choose."


Has the World gone mad but people refuse to see it - or is it just me?

So what am I ranting about today? CHOICES!

We all make choices everyday and every single choice has an effect on everyone else around us. 'Them' changing things isn't going to happen because they are foolishly waiting for you to change first as well.  So guess what…

That's right, when it dawned on me it became very clear.  Regardless of everything that everyone else does - it is still up to ME (you?) to make different choices and better choices that affect everyone else.  Why should anyone else think differently when you don't?

We all know the difference between right and wrong - but to know and not to do, is not to know at all!


What can you choose do do?

Get educated. Know what policies those companies around you subscribe to, through their actions not their political lip service.

Fill up your car less often and travel less.  Turn off your lights and heating when you don't need it.
STOP buying crap that you don't need. It is the job of the PR companies and Advertising Executives to may you buy 'stuff' and make you think you need to be 'dependent' on it. Wake up!

Shop with local shops that care about your name and not just the number on your clubcard.  

If you're doing business with a company that you know to be involved in crimes abroad or funding murder, with low ethical standards and morals - usually soul-less for profit only corporations (that throw a couple of pence to charity occasionally so you think they're nice).  Just say no to dealing with them.

It's fine if you still use these companies at times, just be aware about it and your choices.

Find a company where you can speak to the owner and know there is someone that cares about your business and you.  Where your custom really matters and you're not just another number.  They do exist. Maybe your friends and family own such companies or work for them. Find out and ask them. Support them in a country full of corporations trying to sell you less for more.


People have forgotten that it is not a choice between survival and principles but how much you will sell your principles for!  You will always survive.

I believe the choice my friend was referring to wasn't about 'survival' - but between 'enough money' and 'are your principles important to you'.  Look around and see how people are voting with their actions.  Have they let their principles sail down the river and waved goodbye?  Do they look the other way at injustice? Do you?


There are many ethical, moral and conscientious people and companies out there; that you can work for and do business with - why would YOU choose one that wasn't?

Why expect anyone else to change when you won't.

Now that you're more aware are you going to act differently? I do and hence why I'm sharing this with you as I care about a lot more than just myself and the 'principles for money' sale that is now on.

What do you still stand for?

Peace!

Bobby


Your family needs you, your friends need you, your community needs you, your country needs you, humanity needs you, OUR PLANET NEEDS YOU!

Irish Bail Out

"It is a slow day in a damp little Irish town. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich German tourist is driving through the town, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night. The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher. The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer. The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel. The guy at the Farmers' Co-op takes the €100 note and runs to pay his drinks bill at the pub. The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him "services" on credit. The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note. The hotel proprietor then places the €100 note back on the counter so the rich traveller will not suspect anything. At that moment the traveller comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money, and leaves town.

No one produced anything. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism...

and that, Ladies and Gentlemen, is how the bailout package works."

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Also check out the other blog post here: The Great Rip-off: Tale of the Dead Donkey

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Midlands - Internet Marketing, Business, Personal Development and PIN Xmas Dinner

If you live in the Midlands or the North, then you'll want to
know about these events and share them with your friends.

Also, when you get to the bottom - there's something in London
and an online opportunity so the rest of the country (and World)
don't feel left out.

These include learning and spending time with the BEST, including
Joseph McClendon, Simon Zutshi, Andy Phillips and Sohail Khan.


Stratford-upon-Avon, Saturday 13th November 2010
Internet Lead Generation Success with Andy Phillips
This is a 1-day workshop for Businesses and Property Investors
When it comes to Business on the Internet, Andy is the Man! 
http://whizkidz.networkbillionaire.com


Burton upon Trent, Tuesday 16th November 2010
The Laws Of Attraction with Joseph McClendon
Head Trainer and Master Instructor for Tony Robbins. Joseph has
taught millions with his ‘Next Step’ event and has toured the
world with Tony Robbins on the ‘Unleash the Power Within’ seminars.
CALL 01889 881488 NOW for more information and to BOOK
Quote: "Bobby Gill" or "Diane Hughes" for best prices


Birmingham, Friday 19th November 2010
Join us for the Property Investors Network Xmas Dinner and Party
with Simon Zutshi and the top UK experts in property. Not to be
missed! Book NOW: http://pin.networkbillionaire.com


London, Friday 19th November 2010 - The JV Club Mastermind
Hosted by JV Expert Sohail Khan and Mark Nathwani
By invitation only - Limited Guest Places Available:
http://jv.networkbillionaire.com


Want to find out what is happening to the economy?
Learn how to BUY GOLD as a savings plan and protect your wealth
Check out this site: http://gold.networkbillionaire.com


I hope to catch up with you before Christmas.
All the best,
Bobby

Where did the economy go... double-dip here?

No bull! There's a double dip coming unless the Banks lend the Governement a few trillion more!

My thoughts on the Economy, now that I have a moment to sit down and flow... here are my answers to some of the questions that people are asking.

Below is a bunch of things I wanted to share. If I'm not specific on anything feel free to ask and leave a comment.



1. Current economy
The Depression, yes that's what it is economically regardless of the lies the politicians tell you and stats made up by economists, is affecting the majority of people right now.

People are losing their jobs, homes and there is no such thing as security. With big companies going bust (those not powerful enough for bailout money) there is no such thing as job security. Employee pensions being gambled away on the stock market and they will be lucky if they have much to live on - that's probably why they're pushing the retirement age back.

Almost every year the Government spends more than it raises in tax! It 'borrows' this money from the 'Bank of England' (so much for it being a Government owned body!)
Someone has to pay this back eventually and that means you! Find out about the UK National Debt.


2. Money is being devalued as more is printed, taxes will go up to cover the money being spent and given to the Banks.  Quantitative Easing: "Instead of lowering Bank Rate to increase the amount of money in the economy, the Bank supplies extra money directly. This does not involve printing more banknotes. Instead the Bank pays for these assets by creating money electronically"

You need to be smart in how and where you invest your money right now. Gold has always been a viable option and the demand will always be there for it if you need to sell. Currently Gold has been trading at around £860 / $1380 per ounce and you can always easily get 90% of it's value from a jeweler or gold dealer.
Can you afford Not to invest in Gold?

3. It is also wise to keep some liquid cash on hand, for when you need it.


4. Commercial real estate!

I believe the worst is not yet over. This is the breathing space before the real storm. As people lost their jobs and homes, more mortgage resets are coming, increasing interest rates and fewer jobs. This has worked it's way through the residential property markets at the moment and the next one to be hit is the Commercial property (real estate) markets.
Don't think it will happen? Walk around your local town centre shops. How many 'To Let' signs do you see? More charity shops and pound shops than high street brands? Pubs and bars closing or changing hands more often?
Empty shops and cheap stores being the only ones in business are clear signs of the recession/depression.

Do you see more Cash Convertor stores and places offering to buy your gold in exchange for their cash? Do they know something you don't...

Only another World War could get everyone working again and making money... hmmm... any invasions on the agenda at the moment Mr. Obama?

I hope I'm wrong... but what what if this is how it happens?

I discussed many of these things with my friend Gerry P. and unfortunately the winds and tornadoes started before I actually implemented and acted on any of the facts.

Make sure you're not left behind by being forewarned. Get educated!

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Government and Banks

The Banks and Governments monitor traffic on the internet now to spy on people, I have know of them doing it with BMV property investors and checking their profiles before processing applications.
As TRUST is the Bankers' issue, maybe they want to look in the mirror too!?

The world is waking up and the 'Federal Reserve' is now a household name, instead of a 'perceived' Government body - in reality it is a privately owned bank that masquerades as a Government body. People are against the War and attacks in foreign countries in the name of 'Oil'.
Enough of living in a Police state with everything being filmed and silly little 'civil laws' being invented so they can legally steal your money.

Have America not convinced enough people to support them in attacking Iran yet, to prevent Nuclear arms development? Hmmm... remember the WMD-Weapons of Mass Destruction in Iraq? Neither do the dead US soldiers and citizens of the country or their families and relatives. But it made a lot of US dollars and gave them control.

The fiat currencies are going to go pop and they need wars to keep their pockets lined and economies going. Read up on Buckminster Fuller's honest writings: Grunch of Giants and Critical Path.

The Amero (have you heard about it?) is as real as the European Union and I won't even start on the One World Government with the US President (and his puppeteers) in charge.

Remember this is a game being played by Governments, Banks and Corporation liars (lawyers) - to support their hidden agendas. I'm not sharing anything new - just repeating it so that you may hear the truth THIS TIME!

And if you don't want to believe it then that's cool too... just remember the choices you made when you're waiting for your pension to arrive.


Educate yourselves now! Learn the truth...

I don't know all the answers but I do know the difference between RIGHT and wrong.
Interestingly HONEST is a Powerful (positive) pattern -v- Legal which is a weak (negative) pattern.
Where would you rather be vibrating? (Source: Power Vs. Force by David R Hawkins)


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Despite the doom and gloom - this is a great opportunity for change!

Take stock and learn from your mistakes.  Accept the feedback.
Let the stresses and challenges be your friend and make you stronger.
Make plans and do things better this time.

The information is already out there and you just need to want to look for it. It requires change from YOU and people to come together and say enough is enough to this slavery.
We are all free people but forgot along the way... Freedom is More Than Just a Seven Letter Word

Now is a time that people will remember what really is of value, taking them away from greed and materialism and forcing them to appreciate the other things in life.

Remember: don't be a victim! You're going to have to let go of the old attachments first.
Then get back in charge, take control and be responsible for the life you live!
When would NOW be a good time to do that?

I wish you a happy life filled with fun, friends, family and laughter :-)

P.S. Double Dips are for caring and sharing together!

Illegal Tender from the Bank of Scotland?

Not only are all the Banks printing money and ripping off the people of the World, the Banks of Scotland have the audacity to go one further and keep printing and issuing illegal currency - that does not have to be accepted as payment for a debt! (you may if you choose but that is up to you). Does that not make it counterfeiting and worthless?

Read the info below sourced from Wikipedia and a big thanks to the Drummond's of Alloa (who I met at the Robert Kiyosaki Rich Dad weekend) confirming what I thought.

Bobby

So as a Bank, you're only allowed to steal if you're a thief and the government authorises it. If they don't? Then steal anyway as no-one expects any more from you!


UPDATE: Even though they say it is not Legal, the Bank and Lawyer spin doctors say it is 'not illegal' either!? Leave it to banks and lawyers to contradict themselves, then expect us to trust them {joke}

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HM Treasury is responsible for defining which notes have ‘legal tender’ status within the United Kingdom and the following extract from Bank of England’s website may help to clarify what is meant by “legal tender” and how little practical meaning the phrase has in everyday transactions.

“The term legal tender does not in itself govern the acceptability of banknotes in transactions. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for agreement between the parties involved. Legal tender has a very narrow technical meaning in relation to the settlement of debt. If a debtor pays in legal tender the exact amount he owes under the terms of a contract, he has good defence in law if he is subsequently sued for non-payment of the debt. In ordinary everyday transactions, the term ‘legal tender’ has very little practical application.”

Source: www.bankofengland.co.uk/banknotes/about/faqs.htm

And for Legal Tender?

What is the Bank’s “Promise to Pay”?

"The words "I promise to pay the bearer on demand the sum of five [ten/twenty/fifty] pounds" date from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold to the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns. But the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. Exchange into gold is no longer possible and Bank of England notes can only be exchanged for other Bank of England notes of the same face value. Public trust in the pound is now maintained by the operation of monetary policy, the objective of which is price stability."

Yes that's right - all the banks do is offer to swap your worthless paper for even more paper as long as you continue to TRUST them!

It's a Mad, Mad World banking system! << an earlier post I wrote about the banks and trust.

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The following is from Wikipedia:

Scottish and Northern Irish banknotes are unusual, firstly because they are issued by retail banks, not central banks, and secondly, as they are not legal tender anywhere in the UK – not even in Scotland or Northern Ireland – they are in fact promissory notes. Indeed, no banknotes (even Bank of England notes) are now legal tender in Scotland or Northern Ireland.

Seven retail banks have the authority of Parliament to issue sterling banknotes as currency. Despite this, the notes are sometimes refused in England and Wales, and are not always accepted by banks and exchange bureaus outside of the United Kingdom. This is particularly true in the case of the Royal Bank of Scotland £1 note, which is the only £1 note to remain in circulation within the UK.

In 2000, the European Central Bank indicated that, should the United Kingdom join the euro, Scottish banks (and, by extension, Northern Ireland banks) would have to cease banknote issue. During the Financial crisis of 2007–2008, the future of private banknotes in the United Kingdom was uncertain. It has been suggested that the Banking Act 2009 would restrict the issue of banknotes by commercial banks in Scotland and Northern Ireland by removing many of the provisions of the Acts quoted above. Banks would be forced to lodge sterling funds with the Bank of England to cover private note issue for a full week, rather than over a weekend, thereby losing four days' interest and making banknote production financially unviable. Following negotiations among the UK Treasury, the Bank of England and the Scottish banks, it was agreed that the funds would earn interest, allowing them to continue to issue their own notes.

Following the announcement that HBOS (Bank of Scotland's parent company) would be taken over by Lloyds TSB in September 2008, it was confirmed that the new banking company would continue to print bank notes under the Bank of Scotland name. According to the 1845 Bank Notes (Scotland) Act, the bank could have lost its note-issuing rights, but by retaining headquarters within Scotland, banknote issue will continue.

Source: http://en.wikipedia.org

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My journey in life

"These days are to be remembered; please don't ever forget them.  Hard days make those sunny days that much brighter even when it rains." - Bobby

It's been a long cold winter.

I had the receivers from the Bank of Scotland come in on Thursday and take over the running of my business. They didn't call, give any warning and just walked in with a letter to say they can do whatever they want. Having ignored all my letters and proposals to them to deal with the matter fairly and request for a meeting, this is what they chose to do.
The receiver said he was appointed by the bank on my behalf. He asked me to help him out and I thought if I did they would be fine with me, then he told me to get off the property! You can imagine the shock of the situation, as I wasn't expecting to be helpful all day, then suddenly being dismissed and told to just pack up and leave without a thank you or anything.

Even though I should have expected this, it still felt like the bank had stabbed me. The banks and their associates are real Wolves in sheep's clothing, I've now come to learn that even their smiles are fake and can't be trusted.

That was when the reality of the situation hit me and I don't wish this feeling on anyone.When it happens to someone else we're the first to judge, rationalise and say that this is how we'd handle it - when it is you, in a split second, everything all of sudden changes, seeming so different and much more important.

I cannot even bring myself to telephone a dear friend that I owe money to without a tear coming to my eye, even though we had spoken the day before.

Regardless of all the Personal Development Dogma, we may not always be in charge of everything in life and our path may be picked for us.
Even still we can only choose to make the best decisions we can and learn from all the lessons in life, whether we see them as good or bad.

Later, as I sat in the supermarket car park, not knowing why I was even there, I scribbled these thoughts that were racing through my head on paper. I cannot even put on paper all the emotions I felt ranging from sorrow, loss, anger,  fear, pride, unhappiness, love and gratitude. What people would say and think.

It was a sunny day and I had tears running streaming down my face, when it started to rain.... which made me a little happier that we don't live alone and the world shares our joys and sorrows.  The more you open your heart, the more the love can flow in.

Don't stop dreaming and hang on to them good luck charms, as you will need them soon enough.

And as I stepped out of the car the rain stopped... It really did - it was finally Spring.

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If you need someone to talk to about anything at all, I am here for you. Maybe my journey and friends can provide some guidance and put you back on your path. Remember, a problem shared is a problem halved, so feel free to contact me anytime if there is something you want to get off your chest in confidence, as you will always have a friend in me.

Thank you to all my family, friends and business associates (yes, you're friends too and stuck with me). Our combined hearts are so much bigger and real than the size of any fictional bank or the trillions of paper they print and are then allowed to legally steal by the imaginary government, at the expense of the people like you and me. Judgement day is coming for them...

Money isn't bad, just what you could do with it and when it's valued more than people.Your real wealth and value is measured in what you can accomplish for yourself and others, now it's time for me to show for real that 'Wealth is what you have left when the money is gone' and do it all over again, bigger and better... come along for the ride.



My time has been freed up to possibly do more writing, support I never knew I had has appeared and a couple of business proposals have already come in to keep me moving forward. But it's not over yet as the banks have not won - I'm not going to quit, as the universe works in mysterious ways and I've only discounted the options I know about, the unknown resources will appear soon enough. I'm ready and waiting to receive...


Thank you for reading and allowing me to share my thoughts and feelings... my dry with and humour will commence again shortly.  I just need a little time to digest what's happening and don't fancy talking to anyone right now, so apologies if I've not returned any calls - I am here and will be back in touch soon.

Love and light, Bobby :-)

Human irrationality about money

I'm a big fan of Financial Jesus and pop in for entertaining financial news. Below is an intriguing article I found and wanted to share it with you.

Bobby

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I am a big fan of behavioral economics which tries to explain why people act the way they do.
Here are 3 interesting experiments that scientists have made in order to get a better insight into how people relate to money.

 
The Ultimatum Game
You are given 100 dollars. You need to decide how to split this money between yourself and another person taking part of the experiment. If the other person accepts the amount that you will give him – you will both get to keep your share of the money. If the other person declines – neither of you get the money.
This experiment is set up in order to reveal whether mankind is rational (as the economic theory suggests) or not.
A rational person would accept any amount offered because he or she knows that when he doesn’t accept the amount that is offered to him – he gets nothing. In other words if the first person(A) taking part of the experiment suggests to the second person(B) that they should split the money $99 to A and $1 to B – the second person should accept. Rationally looking it is better to get 1 dollar than nothing.

What really happens?Proposals to accept less than 30 dollars are usually rejected. The reason? According to our judgment the proposal is not fair. If you are offered a small amount of money while the other person gets a lot more (that comes from potentially your money) – you’ll have a feeling of injustice and would rather not get money than to get a small amount and feel bad afterwards.


Perceived value of money
The following is a thought experiment. Would you rather earn 100 000 dollars when everyone around you makes $50 000 or would you rather make $200 000 when everyone around you makes $400 000. The only rule you have to keep in mind is that the cost of living and goods stays the same. Which option will most people choose? A rational person would choose the second option, where he makes more money but less than people around him. That way he will have twice as much to spend. In reality most people choose the first option – being richer than other people. Some scientist think this experiment demonstrates the irrationality of man. I disagree. This experiment clearly shows that social rank is far more important to people than the amount of money they have. If one can choose between more money than your friends vs. less money than your friends – it is a rational decision to choose the first option (even when the total amount of money is less than in the second option). In this experiment people make an irrational money decision but a rational “people decision”. The latter outweighs the first.


The Line Experiment
The first person is standing in a line. When he gets to the counter he is congratulated on being the 1 millionth customer and as a gift gets 100 dollars. A second person is standing in a line at a different place. The man in front of him is congratulated for being the 1 millionth customer and wins 1000 dollars. The second person wins $150 for being the 1 million and first person. Which would you rather be? Surprisingly most people would choose the first option – getting the $100. Money wise this is a bad decision – you lose 50 bucks. The reason most people would rather lose the $50 is because they don’t want to feel the regret of not being the millionth person themselves and winning $1000.


What do these experiments show
These experiments show us, that just like in other things people can at times be irrational when it comes to their money. There are situations in life that are more important than money and economists need to understand this. When talking about economy (and the stock market), we should realize that economy consists of ordinary people who at times make financial decisions that are money wise bad for them.

Source: www.financialjesus.com

Should YOU have a say? Iceland Debt Referendum

Are the Icelanders right in their viewpoint of asking why should they be penalised (through taxes) for the excesses of a few banks?

The Americans and British have already printed oceans of money to bail out the banks (NOT the people) and we as tax payers will have to pay to keep the untrustworthy rich in their jobs, businesses (banks) and bonuses! The untrustworthy being those that live off other people's money regardless of how incompetent they are at providing the service they promise ie. bankers and government workers.
Are you asking yourself these questions too... Is that really what capitalism is about these days?
Is it really fair that we don't get to vote on what happens to us?
Is it time for a revolution yet or will people wait until the banks and government walk into their homes, eat their food and then kick them out!?

Bobby

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Many Icelanders are demanding a "reasonable" agreemen

Iceland has held a referendum on plans to repay the UK and the Netherlands debts owed from the collapse of Icesave bank.
Despite overwhelming opposition to the proposal, the country faces years of financial pain.
What was the referendum about?
Iceland's 320,000 citizens voted on whether their government should repay Britain and the Netherlands more than 3.8bn euros (£3.4bn) - equivalent to each person contributing 99 euros a month for eight years.
Britain and the Netherlands say they are due the money following Iceland's financial meltdown in 2008. But Icelanders say the terms of the repayment are too onerous and rejected the package in its current form.
The collapse of three of Iceland's biggest banks overwhelmed the country's deposit-insurance scheme.
Some 340,000 British and Dutch depositors in the Icesave online bank (owned by Landsbanki) had to be bailed out by their domestic compensation scheme.
Now these two countries want their money back from Reykjavik.
At stake is nothing less than Iceland's ability to restore its economic credibility in the eyes of the world
According to Dragana Ignjatovic, analyst at IHS Global Insight: "In order for Iceland to even hope to rebuild its battered reputation, a compensation deal needs to be reached."
Speaking to the BBC, Chancellor Alistair Darling said the UK would get its money back, if not for many years.
"It's not a matter of whether the sum should be paid. There is no question we will get the money back but what I am prepared to do is to talk to Iceland about the terms and conditions of the repayment," he told the BBC's Politics Show.
Asked about how long it would take for the UK to be repaid, Mr Darling said it would take "many, many years".
But there was never any suggestion many people would vote "Yes".
That's why the referendum became an explosive political issue.
Most Icelanders argue that they should not be penalised for their government's failure to rein in spending and for the excesses of a few banks.
As we are seeing in Greece, and elsewhere in Europe, the majority of people don't want to be penalised for the actions of a few.
Iceland's rising unemployment and high living costs means the country is taking longer to emerge from recession. The economy shrank 6.5% last year and is forecast to shrink about 2.5% this year.
There is also a lingering dislike at the way Britain has conducted itself.
London used anti-terrorist legislation to freeze the assets of Icelandic banks, sparking the worst diplomatic row between the two countries since the Cod Wars fishing dispute in the 1970s.

What does the Icelandic government say?

The magnitude of those payments are such that we would have little left for anything else" Iceland's economics minister Gylfi Magnusson

Last December Iceland's parliament agreed - after much soul-searching - to approve a repayment package.
Under this deal the "debt" would be repaid over 14 years at an interest rate of 5.5%, with the interest bill deferred for the first seven years.
However, in January, following public outrage, President Olafur Ragnar Grimsson vetoed the deal. This set up the referendum.
There were last-minute talks in London to resolve the issue, with Britain and the Netherlands thought to have offered a reduced interest rate.
But hopes of a deal which would have forestalled the need for a referendum were dashed.
What are consequences for Iceland of a "No"?
A "No" vote might strengthen the government's hand in negotiations.
That said, it would still be a blow for Iceland's shaky Social Democrat-Left Green coalition, which had approved a deal.
Iceland's Prime Minister Johanna Sigurdartottir has staked much of her political reputation on backing an Icesave deal.
And the dispute has also overshadowed Iceland's application to join the European Union, which was submitted last July. This application is effectively on hold until the Icesave issue is resolved.
More importantly, a "No" vote could have severe consequences for Iceland's attempt to re-build its shattered economy and repay its debts.
An application for about $4.6bn in loans from the International Monetary Fund appears to have stalled.
The IMF has said that the Icesave dispute should have no impact on the loans.
But Britain and the Netherlands, along with Nordic countries, are thought to have made the loans conditional on Iceland repaying international debts.
About 1bn euros in foreign debt matures in 2011. Gylfi Magnusson, Iceland's economic affairs minister, has warned: "The magnitude of those payments are such that we could we would have little left for anything else."
Rating agency Moody's said recently that the deadlock may force it to downgrade Iceland's debt to junk, making it even harder for the country to borrow much-needed funds on the international market.

Source: http://news.bbc.co.uk/1/hi/business/8551673.stm

The Great Rip-off: Tale of the Dead Donkey

The current banking crisis explained:

Young Thomas bought a donkey from a farmer for £100. The farmer agreed to deliver the donkey the next day.

The next day he drove up and said, 'Sorry son, but I have some bad news. The donkey died.'

Thomas replied, 'Well then just give me my money back.' The farmer said, 'Can't do that. I've already spent it.'

Thomas said, 'OK, then, just bring me the dead donkey.' The farmer asked, 'What are you going to do with him?'

Thomas said, 'I'm going to raffle him off.' The farmer said, 'You can't raffle a dead donkey!'
Thomas said, 'Sure I can. Watch me.. I just won't tell anybody he's dead.'


A month later, the farmer met up with Thomas and asked, 'What happened with that dead donkey?'

Thomas said, 'I raffled him off. I sold 500 tickets at two pounds a piece and made a profit of £898'

The farmer said, 'Didn't anyone complain?' Thomas said, 'Just the guy who won. So I gave him his two pounds back !'

Thomas then went to work for Barclays.

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Here this tale would have ended... but it didn't...

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A year later, Thomas (now working for HBOS / Halifax Bank Of Scotland), comes running into the farmer's yard, out of breath and looking frightened.

"You must help me hide!" cries Thomas.

The farmer asks, "Why? What's wrong?"

Thomas explained, "I went all over the village, hiring people to sell raffle tickets for the same dead donkey, and then those people hired other people to go to other villages and sell raffle tickets for the same dead donkey, and now there are thousands of raffles taking place all over the kingdom.
Millions of people and pension funds bought my raffle tickets, but the donkey started to stink and everybody found out it was dead, so now they want their raffle ticket money back!"

The farmer suggested, "Just pay back the money, Thomas."

"I can't!" Thomas moaned. "I spent it all on bonuses for my raffle salespeople, and private jets, and huge mansions, and an opulent lifestyle to which we, in the raffle ticket business, have become accustomed. Not only that, I borrowed against my raffle ticket earnings 35 fold, so now I OWE 35 TIMES the money I actually earned!"

The farmer thought a moment, then smiled. "Don't worry, Thomas. I know what to do."

Thomas asked, "What can possibly be done?"

The farmer answered, "Your raffle operation is the biggest business in all the land. It's too big to fail. The King will bail you out, for the good of all his loyal subjects."

And with that, Thomas beseeched the King for billions of pounds to create the R.T.R.P. (Raffle Ticket Relief Program) to buy back all the worthless raffle tickets.

Everybody thought that would be the end of it, but it turns out the King didn't have enough money to bail out the Raffle ticket holders, so he issued official "Raffle Bonds" to borrow money from other lands.

Everybody thought THAT would be the end of it, except when the rulers of other lands figured out their lent money was being spent on dead donkey raffle tickets, they stopped lending it. So the King decided to just print the money to buy back the dead donkey raffle tickets.

Everybody thought THAT would be the end of it, until it turns out that printing money causes each individual pound to be worth much less, so prices for goods and services rose enormously throughout the kingdom. The King decided to issue a new paper currency denominated at 1/10th the face value of the old pounds, and forced everyone to exchange their old money for new money so prices would come down to normal again.

Everybody thought THAT would be the end of it, until the same thing happened with the new currency, so the people rose up and toppled the King with torches and pitchforks, and installed a new ruling government with a new currency backed by gold.

And THEN they all lived happily ever after.

The End.


Modified from the Source: http://www.linkydinky.com/Donkey_raffle.shtml

It's a Mad, Mad World banking system!

Rates reduced to 0.5% and Quantitative Easing measures to boost economy to be 'tried' by pumping £75 Bn into the economy! The Bank of England 'hopes' the banks will pass this money onto the public by lending more to individuals and businesses!

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Just a funny comment I thought I'd add:

"I promise to pay the bearer on demand the sum of......"

Oops, just realised it's not just a funny comment but in reality:

On a bank note it states "I promise to pay the bearer on demand the sum of......". What that means is, the bank has pledged to the holder of that note, that on demand, they will give to the holder, the value stated on the note in gold or coinage. A bank note is merely an IOU.

Do they have any value left to offer and do you hold many worthless IOU's?

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"UK interest rates lowered to 0.5%

The Bank of England has cut interest rates to 0.5% - a fresh all-time low - and says it will now boost the money supply to help revive the economy.

Interest rates have now been reduced six times since October, and the latest half a percentage point cut from February's 1% had been expected.

The Bank said it would expand the amount of money in the system by £75bn in an attempt to boost bank lending.

This policy, so far untried in the UK, is called quantitative easing.

Buying assets

Quantitative easing is the process of increasing the amount of money in circulation in an attempt to revive the economy.

While the Bank will initially add £75bn, Chancellor Alistair Darling has given it permission to extend this to up to £150bn.

The idea is that if the amount of money in the system is boosted, commercial banks will find it easier to lend.

Quantitative easing is sometimes incorrectly referred to as printing money, but the Bank will not expand the supply of money by making new banknotes.

Instead, it will buy assets - such as government securities (gilts) and corporate bonds.

Similar measures were implemented in Japan at the beginning of the decade and are considered to have had limited success.

"Today's decision is a kick in the teeth for savers who will see their already diminished interest payments fall even further" - Adrian Coles, Building Societies Association

The Bank's statement in full

What is quantitative easing?

What low rates mean for you

Source: http://news.bbc.co.uk/1/business/7925620.stm

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Read my last write up in February on Interest Rates, Banks, Property and the Economy - Feb 09


At least the Americans have the right idea! "In God We Trust" - start praying!!!

Interest Rates, Banks, Property and the Economy

Not only is it freezing outside and snowing, the economy is in a severe winter as well.

March 5th 09 Update: Interest rates reduced to 0.5% and Quantitative Easing measures to boost economy to be 'tried' by pumping £75 Bn into the economy!!

- Interest rates at historic lows of 1%.
- Banks still not increasing credit supply.
- Property bargains to be had and investors are buying.
- Is the economy in a recession and can you still make money?

Here is a quick (ish) run down on the Interest Rates, banks, property and the economy.
It started as an interest rate update and a few hours later it turned into so much more. If you don't have time to read it all, skip to the section that is relevant to you.

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Interest Rates

Falling rates, going down, down and down...
Interest rates are now down to an historic low of just 1%

8 October 2008: 4.5%
6 November 2008: 3.0%
4 December 2008: 2.0%
8 January 2009: 1.5%
5 February 2009: 1.0%


Source: http://newsimg.bbc.co.uk/media/images/45448000/gif/_45448232_boe_466.gif


It's not really good news for savers or the economy, as there is a huge reduction in the credit supply available for spending.
The pound won't like another cut either as it is already weak against the other major currencies.

I won't even go into inflation as the government is not entirely sure how it is measured either and how to fudge it to fit the figures that they want. (RPI, CPI and RPIX)
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Banks



Source: http://newsimg.bbc.co.uk/media/images/45447000/gif/_45447761_key_rates_5feb_gr466.gif

Libor is what banks charge when the lend to each other and it still looks like there are still trust issues between the banks.


Small businesses are being allowed to go out of business but large companies and banks are being bailed out by governments. The money is going into the banking system but not coming out the other end.
Giving the banks money that isn't passed onto their customers leaves tax payers looking like idiots.

Bailing out companies and banks that should have been allowed to go bust is not a very smart and ethical move, the mistakes shouldn't be covered up and the entire market allowed to correct to what is an acceptable level.
Putting bans on selling bank and other related stocks short is ludicrous. The whole point of an open market is to allow buyers and sellers to help it find it's price.
This leaves the stocks overpriced (if you can't sell short and only allowed to buy, it is artificial inflation of the value!)

Quantitative Easing and pumping more money supply into the economy surely can't fix the problem can it, how much longer before it all goes bang!?
Check out this brilliant article on The End of Money. The idea isn't as far fetched as it may first appear. The End Of Money by Chris Martenson

Whereas the banks have been bailed out for their criminal behaviour, they are now treating companies and individuals like criminals. Pot calling the kettle black!?

If you are having a tough time financially then stop waiting and go get good debt advice now.
Check out this article and the below links for more info:
http://bobby-gill.blogspot.com/2008/08/maxed-out-how-much-have-you-borrowed.html
www.thedebtsurvivor.com
www.ideservedebtfreedom.com
(Mention Bobby Gill's Blog when you contact any recommended parties to make sure they look after you)

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Property

What do interest rate cuts mean to homeowners and investors?
If you can raise the deposit of 25% or negotiate a discounted deal with a seller, then rates are so low that it is a good time to take out some long term borrowing.

Already own property and on a variable rate? Great, if it is discounted rate you will be below 1% already saving you hundreds of pounds a month.
This is a good opportunity not to go out spending but either stockpiling some cash or paying off the capital on your mortgage, better still pay off other high interest debts like credit cards and loans. The extra money is a bonus and it is up to you to either invest (reduce debt) and save it - or splash out on doodads and toys. Make the smart decision now and you'll be glad you did.

Currently cash is king and those with liquidity and able to structure smart deals will be stocking up on property.

James Caan is still buying. I was lucky enough to see him speak at a presentation in London, at the Wealth Intelligence Academy last weekend.
His views were the interest rates are likely to go down virtually to zero and that there are plenty of great deals out there. For example he recently purchased a £10m property, being offered at £7 for just £4.1m because that was all it was worth to him. Nearly 60% BMV (below market value) is a great deal and this is proof that such deals are just waiting to be done.

Richard Branson says fortunes are to be made in a downturn. Assets can now be bought cheaply and the recession will provide "massive" opportunities for entrepreneurs.
Source: http://news.bbc.co.uk/1/hi/business/davos/7860333.stm

Usually big deals are immediately bought up by large firms and pension funds. They are not buying anymore and more likely to be off-loading their property at the moment to stock up on cash. What a great time to buy.

The current climate is only a problem for flippers and property traders, not property investors.
Investors know property always has been about the medium to long term.

Finance is a little harder to raise but deals are still there to be had. With less competition, as average investors are scared by the news, could there be a better time to buy!?

As a contrarian, like Robert Kiyosaki, my view is that it's now the best time to buy as people are desperate to sell and panicking.


It may be winter but Spring will be here soon. Look after you cash flow short to medium term and reap the rewards later.
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The Economy

Are YOU in a Recession or making money?

The UK economy (GDP) has shrunk for the second successive quarter meaning that the country is now technically in recession. I won't even look at inflation as the government fudges that each time to suit and has various methods of measuring one thing (RPI, CPI, RPIX), roll a dice and pick a figure!

McDonalds are one of the biggest winners at the moment:
Source: http://timesbusiness.typepad.com/money_weblog/2008/10/the-10-biggest.html

People are still going to take holidays, so tourism locally will increase as people will not go abroad. With a better exchange rate it will also attract international travellers visiting the UK.

Food companies are still doing pretty well and other companies that provide basic necessities, like utilities. People want to reduce their bills and increase their income so companies like this will expand in this climate.

Drop me an email to find out more on how to save money on your utilities and earn an extra income too. Utility Warehouse can save you money on your bills and household shopping!
Take a quick look at this French & Saunders video, reminds me of the PC / Mac adverts lol...
www.lowermycosts.co.uk


There is still money to be made and it is only an economic slump if you aren't prepared to look for the opportunities.
Bob Proctor says that their may be a recession on but he is refusing to participate in it. What decision are you making?

Surround yourself with people moving forward, not those sat watching TV, drinking beer waiting for things to change for them. Take a look at these Mastermind groups being set-up around the UK and get yourself a peer group that supports you.
http://bobby-gill.blogspot.com/2009/01/think-and-grow-rich-mastermind-groups.html

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None of the views or news above is good or bad. It just depends which end of the shotgun you are looking at!

And on that happy note, make sure you're on the right side ;-)


Bobby

P.S. Remember it's all just a game and you can win if you want to!

The economy today and what it means to you!?

Do you really want to read about the economy at the moment?

People are either 'struggling with problems' or 'dealing with challenges'. How do you describe it? As that is how you will find that it is.

Credit is not now readily available as it was and it is called the credit crunch. Banks are not lending to each other or to individuals. The economy actually needs this at the moment and although it may mean people are suffering, it is necessary for the long term - the party of over-borrowing and throwing money away is now over. Not what anyone wants to hear but it is fact.

Petrol prices are going up, along with home fuel and food costs! All sounds bad so far right?


Everything will get better... There are more opportunities in a re..cess..ion than at any other time. The economic climate is challenging AND it WILL change for the better. It is a matter of sticking it out. There are many ways to get through these tough time, mainly by spending less AND earning more!

SAVE MONEY: Cut back on your travel. Eat less (bonus for your diet!) Reduce your utility bills (contact me to find out more: SAVE money on your bills). Spend less on clothes and luxuries.

EARN MORE: Get a part-time job, some entrepreneurs I know are going back to work to earn more as they know it is only temporary. Earn an extra income with a part-time (or full time) franchise, cheap start up (contact me to find out more: EARN a passive income)

DEBT MANAGEMENT: Are your debts becoming unmanageable? Speak to someone about it. Once again I can recommend someone to you who will be able to deal with your finances and give you more options than struggling through the week, trying to make ends meet and have it affecting your health.

Daniel Latto (Think Tank Group) gave me a great Star Trek quote:

"Ferengi Rule of Acquisition 109: Dignity and an empty sack is worth the sack."

ie. Pride -v- an empty bag, people will settle for an empty bag so that they can save face. Every one does what is right depending on their circumstance, no-one does the wrong thing intentionally. Change your view point and take a look at your finances with a view to surviving over the next few months.

NETWORKING: The positive people and still attending networking events and investing in their educations. Those that do are the few that will succeed. A lot of business is done between people and referrals. Those that are positive and can help you make a difference to your business are those people that will be remembered and still be making money. Look around and see if the peer group around you represents where you want to be going...
(Check out the events to the right of this blog and below in one of the other posts)

MINDSET: Develop a positive mindset and look to the upcoming times as challenges to overcome and know you will come out better and stronger for it. The people you spend your time with are how you are going to turn out, in business and in life. Hang around with positive people with solutions. Those passing out problems should be avoided and that includes the newspapers and TV!

You can't wish away the months, you just have to get through it. Learn the lessons now so you don't have to repeat them in the future and just KNOW that it will all be better.

Well I had to get that off my chest. I'll bring you some good news tomorrow! Just remember the following:

"Good timber does not grow with ease; the stronger the wind, the stronger the trees" - J. Willard Marriott

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Property investors: unable to get finance or put deals together? Find out How to Invest in Buy to Let Using Rent to Own And Never Visit a Bank. Lease options and rent to buy. Find out more here: The CashFlow System


Save Money on your Bills and Earn an extra income: Contact Bobby for more info.


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