How to FIRE with Satoshis?

FIRE is Financially Independent Retire Early. Many people want this, not many people understand yet how. We’ve noticed an absence of awareness of the opportunities of Bitcoin in the FIRE community. And and absence of awareness of FIRE in the Bitcoin community.

A Satoshi is 100 millionth of a Bitcoin. We believe that saving up to 100 million Satoshis will get you leanFIRE by 2022.

Here are the steps:

1. First of all, save up for a buffer of 3 months. You want to be able to HODL properly. This is also your first level Fuck You Money. You want to be able to not worry about paying the rent and keeping yourself (and possibly your family) properly nourished.

2. Now with a little buffer you’re ready to get to 1 BTC. If the current 2019 bear market lasts a bit longer this will become relatively easy.

3. Here comes the fun part. Extreme Bitcoin Maximimalists would just put all their money into BTC. But it might make more sense to put money in other places. If you still have debt, pay off debt every month. If you paid of your debts, it’s also interesting to play around with P2P lending, stocks, real estate, whatever you enjoy doing. Don’t gamble, no daytrading, no altcoins, horsebetting or playing poker.

4. If you have free time, consider starting your own website, side gigs, etsy, buy/sell stuff for profit, whatever you’d enjoy doing that also gives you some extra cash. You put this money back into 3.

How to open a bank account in Italy

If you live in Europe it is quite easy to open a European bank account; you simply need an ID card, proof of address and phone bills. Some years back, opening a bank account in Italy without residency was either impossible or expensive. However, that has since changed because under the Italian law you can now open a virtual bank account whether you are residing in Italy or not.

Bank account for non-resident

You can open a non-resident account by asking for assistance from the relevant agencies specialized in offering the services. Once you have opened the virtual bank account you can withdraw and send money at any time without penalty or incurring extra costs.

This has been made possible due to the B2B pay where you get the free virtual bank account using your IBAN number. Payments through the virtual bank account are sent directly to your master account at 1 % fee of the mid-market Bloomberg fee at the time the money arrives in the account.

The B2B Pay payment solution is offering the best Virtual Bank Account in Italy with the best rates for sending and receiving money from your domestic bank account. If you are living in the SEPA zone, you will get the virtual account without the need of reference numbers.

Some of the advantages of getting Virtual bank Accounts based on the B2B pay is it eliminates the sovereign risks involved. You need to understand that parking funds in an international bank account mitigate the risk of fund loss that results from confiscation of money or freeze of accounts by governments without you committing any fault.

Secondly having a virtual bank account via the B2B Pay system in Italy enables you to enjoy low or no income tax implications from business activities. The virtual Bank accounts give you instant access to the statements where you can see the activities in your account in real time basis. It also offers the flexibility of accessing your account balance as well as seeing your past and pending withdrawals and deposits at anytime from anywhere.

One of the advantages brought by virtual bank account is the transfer of money between accounts instantly across the globe. The B2B Pay system has inventories of different currencies that can help you to make transactions in multiple currencies. If you are looking for anonymity then virtual bank account allows you to bank as per the banking secrecy guidelines.

Virtual bank account for Amazon

Gone are the days when people from one village would live in isolation without depending on people in another village just a few miles away. Today, the internet has made it possible for people in different countries and time zones to conduct business and depending on each other with just a click of a button. You can easily buy or sell your goods from Amazon and receive payments with unknown merchants. This has been made possible due to the B2B Pay platform that allows people in different countries to open virtual bank accounts and send or receive money at the click of a button from anywhere in the world.

Virtual banking has taken a hands-on approach to bringing banking services to the world population at the comfort of their offices and houses. People are migrating from the traditional banks because they can still get the same services without leaving their couches. In this generation, consumers are favoring B2B Pay options because of its lower costs and consumer-centric nature of service. Today, companies must collaborate to offer services to customers in the business world. For this reason, Amazon has partnered with Payoneer to ensure foreign residents outside the US can receive their money in their local ATM or at any outlet with the MasterCard logo.

You simply need an internet connection and a computer to register for a virtual bank account. People living outside the UK, EU, or USA know that you need a virtual bank account to receive money from Amazon cheaply and faster. Because Amazon is an American corporation, you will need to be in the country’s financial system to do transactions with the company.

Why should you open the virtual bank account with Payoneer?

Payoneer is a licensed money transmitter that offers regulated money services based in the United States. Payoneer is also licensed to offer e-money services in the European Economic Area. This company is working with Amazon to ensure buyers and sellers make and receive payments for goods sold or bought on Amazon.
Payoneer Virtual Bank account is open to both residents and non-residents of US who wants to transact with Amazon Corporation. The fact that you receive the money faster and conveniently is a big boost to your business. Once you have the Payoneer account, you simply link it to your Amazon account, and you will be set to receive and deposit money at the click of a button.

Blockchain is bullshit

Blockchain is bullshit. If you weren’t aware yet, a blockchain is simply a decentralized database. Not even that decentralized. You read that correctly, a blockchain is a database. The only way it makes sense is in the context of Bitcoin.

Yet many people are selling the snake oil.

Here’s some bullshit that I had written a long time ago:

 

Some outsourced bullshit

What is a blockchain? Transactions that rely on centralized processing databases are time consuming, expensive and frustrating for consumers. These transactions involve fees and overhead that erode the profits you have already earned. Blockchain technology offers a secure alternative that eliminates costly client-server setups that currently make up the majority of financial interactions on the web. For example, when using Bitcoin for cross border payments on a distributed network model, each node in the blockchain is responsible for authentication and broadcasting. Also clients in possession of a private key are protected from sharing excessive personal data while benefiting from a network that is inherently more secure due to lack of a centralized server vulnerable to outside attacks.

Client-Server networks require excessive (costly) protocols to maintain security. Transaction can take up to three days to process, slowing down the supply chain. Clients are required to share personal information to set up accounts. The expense associated with traditional networks unnecessarily diminishes profit margins.

With Traditional Payment Services

  • You are forced to wait until slower transfers clear to finalize transactions
  • You pay high fees for transactions between countries
  • You are responsible for managing a centralized network
  • You assume responsibility for security and storage of account information
  • Users are required to create accounts/Provide sensitive information

With Blockchain Services

  • Transactions are instant and trackable
  • Overhead is reduced due to distributed network
  • Transaction histories are recorded in each blockchain
  • Clients only need their passkey to initiate transactions
  • With Bitcoin for cross border payments,cross border transactions are secure and simple

So what is a blockchain and why use blockchain for money transfer? With services like Ripple Transaction Protocol (RTXP) and other blockchains transaction fees are no longer a barrier to cross border payments. Blockchain are not only secure and instant blockchain transaction fees are essentially free without charge backs. Ripple and other blockchains rely on the distributed network system that assembles a record of the entire transaction history for each account in a single file that is passed between nodes on the network. This maintains a completely up to date profile for every transaction without the need to access a central server for authentication and verification. The result is faster, easier more secure transactions for a fraction of the cost.

  • Instant, traceable Transactions
  • Minimal Blockchain Transaction Fees
  • Secure Distributed Networks
  • Instant Transaction with Minimal Verification Requirements

SMBs asking themselves ‘Why use blockchain for money transfer?’are discovering developments in the payments industry that are opening borders for business of all sizes. Size ins’t the barrier it used to be. Currently businesses are stuck in the waiting game where a wire transfer can take up to three days to complete, larger working capital is required and supply efficiency is hampered by outdated systems. Blockchain cross border payment systems reduce wait time to nearly zero, eliminate high transaction fees and provide a simpler secure alternative.

Get started

Blockchain systems for cross border payments resolve many of the major issues facing businesses today that want a simpler more secure solution.

Entropay virtual bank account

The internet has made it easy for international residents to open virtual bank accounts in foreign nations. Using the B2B Pay system people can transfer money and conduct exchanges without leaving the comfort of their houses or offices.B2B Pay has made it simpler to trade in international currencies as well as receive money from unknown merchants globally.

Today, few financial institutions are using money transfer mechanisms that offer the customers the most protection. Some debit cards and credit cards used to make purchases online reveal personal information and card numbers to unknown merchants which pose certain risks to the cardholder.

However, with Entropay your financial details and personal information is not disclosed to the merchant. Entropay keeps your information safe and protects your privacy when you are completing online transactions. Entropay virtual account maintains your privacy safeguards your account as well as phishing scams.

Why is Entopay a good Virtual Bank account?

Entropay uses the latest robust technical system that protects its customers against fraud. Entropay virtual visa Card takes out the hassle of online transactions. It gives clients the freedom to instantly spend their money from anywhere they want with just a few clicks. Creating an instant Entropay account involves simple steps. You just need to follow the online registrations process and you will get your Virtual Card immediately. Once you have the Virtual bank card, you can transfer money into your card and begin enjoying easy money payments from any outlet around the world with a VISA logo.

Benefits of using Entropay

Once you have registered for an Entropay account, you have the ability to pay with confidence. An Entropay virtual bank account is a prepaid account that you can use to make online purchases. You load funds on your Virtual Visa Entropay card from your regular bank account. During registration, you will instantly get the 16-digit Virtual Entropay Visa card number together with the CVV number, which you will use, in the payment form. Once you completed the process, you do not have to wait for mail to arrive; you instantly begin it to spend money, collect money, and retrieve your funds from anywhere you are.

Etrade virtual bank account

The 21st century has seen technological innovation like no other before, and it is during this lifetime that people have adopted paperless cash as opposed to traditional ways of payment. It is in this form of payment that newer opportunities over the Internet have emerged with more and more companies gaining interest in selling products and services online. As a result, the banking process has been made easier by establishing virtual bank accounts which allow online payment all over the world. This kind of electronic trade has made companies like Amazon, eBay and Alibaba make a fortune out of the innovation without compromising on the trust their clients have for them.

Getting solutions for your banking needs just got better with virtual banking accounts. With these accounts, you are able to streamline operational accounts by managing payouts to multiple clients through a simple-to-use Virtual Account Management system. Through this platform, you can be sure that your transactions are safe as they are carried out through the Straight Through Processing and Straight Through Reconciliation protocols which are also integrated into the Treasury Management System.

When it comes to virtual bank accounts, you not only enjoy lower costs on your transactions, but also, most of them charge you nothing for maintaining your account. In addition, such accounts offer better interest rates to your savings account and you get to know your spending limits as they help you not to get into debt. This is easily managed since most virtual accounts come with a prepaid MasterCard which allow you to withdraw money at all ATMs worldwide. As if that is not enough, the charges on your card are either equal to or lower than the typical banker’s ATM card since most virtual accounts do not charge, if not little, fees for withdrawals.

Additionally, virtual bank accounts give you the privilege to access your money from the comfort of your mobile phone, manage end-to-end process regarding your international and domestic transactions, and help you keep up with your interest rates and FX risks wherever you are. As such, virtual banking has show reflect how global cash management is optimized, increased time efficiency as well as reducing re-key data procedures for most B2Bs.

Virtual bank account for non residents

The Internet has significantly changed how people are doing business in this generation. It has transformed how people communicate, and how people buy and sell. Through the internet, you can do shopping, gain educational certificates and work from the comfort of your home. Banks has well has not been left out, and they have come up with virtual bank accounts through the B2B pay platform where businesses can make transactions online.

Virtual bank accounts have made it possible for non-residents to get bank accounts. Today, it is feasible to be a citizen of South Africa and have a bank account in the US without every physically stepping in the US. You simply need the internet and a computer, and you are good to go. Virtual banking has features that allow you to conduct business 24 hours a day from anywhere in the world.

First, before you can open a virtual bank account, your must be 18 years and above. When you apply for the virtual bank account, the application will ask for certain personal information for you to be accepted in the system. This information is necessary because to helps in preventing global challenges of money laundering, and terrorism.

The virtual bank accounts are maintained on B2B payment platforms because this system helps expedite transactions in foreign currencies as well as between trading partners of different nations. The B2B payment system is the best for virtual banks because it provides assessment for the creditworthiness of seller and buyer. This system also guarantees that the buyer will get the goods he or she ordered in the specified quality and quantity. B2B Pay has made online businesses safe because it makes it easier to conduct business with unknown parties without the fear of fraud or repudiation.

Virtual banking accounts for non-residents remove the hassle and security risks that are often associated with paper transactions. It also provides real-time reporting and approval of delivered goods, collections, payment, and invoicing. This payment platform allows businesses to carefully monitor their money, which helps them to make prudent decisions.

Because virtual banking allows you to work outside the limits of normal business hours, and without the limitations of space, your businesses, in turn, would grow faster because of increased efficiency. Since technology is becoming sophisticated with each passing day, you also need to be aware of the security measures involved. Do not share your pin or password with anyone via the internet and if possible change your passwords regularly.