Archive for the Income Category

Economics – The value of bitcoin

Posted in Computer Software, Economy, Income with tags , , , on 2015/08/24 by rmolby

I have been involved in bitcoin mining from the early days, but with mining becoming more and more difficult, I have decided to not expend any more regular money on the endeavor, instead to concentrate on bitcoin faucets.

So I was looking at an app called BitMaker on my smartphone, an app that trades viewing ads for small amounts of bitcoin called Satoshi.

A Satoshi is one unit at the 8th decimal place, or 0.00000001 BTC. Since there will be a maximum of 21 million bitcoin ever mined, and there are roughly 7.5 billion people on the planet, and growing, we will need approximately 0.0028 BTC, or 280,000 Satoshi, per person at the current population levels.

To figure out what it take at a minimum to survive in the USA, including food, rent or mortgage, utilities, etc, I will be looking back to 1964. There is a reason for this I will get into shortly.

In 1964, you could live at the transition point from lower to middle class, pay all your bills, live in a decent house, drive one car, have one TV, and not be at the brink of poverty. It meant being frugal. The minimum wage in 1964 was $1.25 and it would provide that level of minimum living on ONE income. FIVE quarters (25 cent coins for those outside of the USA) per hour would pay that level of income!

Now, the reason why I chose 1964 is the fact that there still was silver in quarters, 90% to be exact. If we go to Coinflation.com, we see a single pre-1965 quarter is worth $2.6403 in 2015 dollars. So 5 quarters would be $13.20, that is more than today’s minimum wage in most areas of the USA. That is $27,459.12 per year in 2015 dollars. Back in 1964 you could live decent, today that makes you poor and in some cases eligible for welfare!

But let’s assume that today we COULD eek out a living on $28,000 per year. I rounded the number to make the math easy. As you saw above, there are about 280,000 Satoshi per person, per year, so, that would make each Satoshi worth $0.10 or 10 cents. If this is the case, then 10 Satoshi make $1, and one bitcoin would be worth 10 million US dollars.

Right now, BitMaker allow me to bring in around 16000 Satoshi a week, currently, at about $280 per BTC, that is about 4-5 cents, however, if bitcoin would be worth what it should be as described above, this would represent US$1600, a significant amount of income.

I wrote the above over the last two weeks in short bursts without posting it here. So then today I read an article on beta Kim Dotcom recommends investing into bitcoin due to the current stock market down turns in China, EU, and USA.

So, if bitcoin ever achieves it’s real value, I can totally see my currently meager income of a few Satoshi here and there add up to significant retirement savings. $1600 per day, could turn out to be $584,000 in the future.

Are you acquiring a few Satoshi today?

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Employment – Another new job!

Posted in Blogging, Computer Hardware, Computer Networking, Computer Software, Employer Work, Employment, Income, Technology with tags , , , , , , on 2015/06/17 by rmolby

So, this is week four of yet another new job – and I’m loving this one, too.

As it turned out, about 4-5 weeks ago a former co-worker of mine made me aware of a job position, and after hearing and reading about the employee benefits, and potential salary range, I took the plunge and applied.

Low and behold, I got a call in the middle of May, and by then end of May 2015 I was hired and working for the new employer.

I have to say, in some ways this job is easier due to the corporate compartmentalization, and all the pre-built, organized way of doing business. I have virtually no engineering to accomplish, I can shine at what I do best, which is a troubleshooter of computer and networked peripherals.

Add to that the better offering of benefits in health, life and retirement, and I am a much happier camper. So, I can say, I liked the last job very much, and I liked all the people I worked with, but I like this current job better; while I miss the previous co-workers, my current bunch are great, just as relaxed and mellow, and I am in my element.

Thank you to my fellow co-worker for getting my attention and pushing me to apply! You know how you are 🙂

Financial – Micro-tipping with ChangeTip

Posted in Blogging, Business, Economy, Entertainment, Income, Internet, Liberty, Technology, Wordpress with tags , , , , , , , , , , , on 2014/08/24 by rmolby

In my previous post about tipping with bitcoin on Twitter, I talked about using TipperCoin, but this only worked on Twitter. So here comes a different outfit, ChangeTip – A Love Button for the Internet.

Have you ever read something on Facebook, Google+, Twitter, or any other social media site and wanted to send the author a small amount of funds to tell them you appreciate the information?

Well, sending very small tips, also called micro-payments or micro-tipping, isn’t really feasible with say PayPal, or most other conventional payment systems, because of all the transaction fees.

Well, all this changed when Bitcoin was created back in 2007/2008 (see history), and today we are are able to make financial transaction in microscopic small amounts. As a matter of fact, as of this posting, it would take 122,174 satoshi to make one (1) US dollar, or 1221.74 satoshi to make a US Penny, according to Satoshi Value.

This means that I can now tip or pay for just the piece of content that is important to me. For example, if I look at a DiY page and all I really needed is a picture of where a part goes on a gadget, I may tip the article or post writer a dollar, but if just needed one paragraph of text to clarify something, or I find a page visually pleasing, I may tip 1000 satoshi, or just under a penny. Hover, if I find something really valuable, say a gardening article, and I decide to print a hard copy of it for future reference, I may tip US$5 because I find it that valuable and I am keeping it for future reference, so it is worth that much. Or maybe 1/4 of the article is worth keeping it, so I will tip US$1.25.

So first there was TipperCoin, a novel way to send small amount of bitcoin to Twitter users. But since this is specific to Twitter users I never really got into it because I just don’t Twitter that much, much less read a lot of Tweets. This all changes with ChangeTip. It is cross-platform, currently supporting GitHub, Google+, Reddit, StoclTwits, Tumblr, Twitter and YouTube. They are working on Facebook.

When you sign up, they generously give US$0.50 to start your tipping account. I used my Google+ to do the signing up, and it automatically linked my YouTube channel. I then added all the other social media sites I have an account with.

Now I am ready to both tip and receive tips.

So, here we go, a way to tell authors how much you appreciate their work beyond giving them a “Like”, “Plus” or retweet.

If you found this article useful, you can go here to give me a tip and sign up if you are not a ChangeTip member.

Tip Me With ChangeTip

Self-Improvement – New Start

Posted in Blogging, Business, Entertainment, Family, Health, Income, Internet, Liberty, LifeStyle, Wordpress with tags , , on 2014/08/21 by rmolby

August 21st, 2014

Have you ever questioned the purpose of your life, or asked, “with everything that is going on in my life, why am I going on? Is there a future worth living for?”

Piggybacking on my last post about getting a new job and regaining about 50% of my previous income, and trying to find something to inspire me to get re-engaged in life, I remembered a cool video I got from someone that was narrated by Earl Nightingale.

So I searched for any videos narrated by him, and among the list I found this particular video:

At the end of the video is a list of 12 points to remember, and I will try to go into each of those points as a separate post, but here is the list:

  1. Explore the work you are currently engaged in
  2. Realize that your own pasture is green – and unlimited
  3. The way you go about your job makes it good or bad
  4. Let yourself grow – avoid self-limitation
  5. Start preparing yourself for opportunities – NOW
  6. Put your imagination to work on ways of improving on what you are doing now
  7. Learn all you can about your job, your company and your industry
  8. There is no limit to your growth potential
  9. Our economy needs and will reward the uncommon person who participates in its growth
  10. Begin to build your library of reference material on your company, industry, your job and people skills
  11. Set aside an hour a day for study and research
  12. Remember the story of the acres of diamonds

I will not make Point 11 into a separate post, as this post you are reading serves as the post about setting aside an hour per day for research and learning.

I had originally thought about finding a short inspirational video so I could spend as little time as possible on this, but it turned out watching the 10 minute video in its entirety was the best choice I could have made, and it prompted me to spend that hour researching, learning, and writing up this blog post.

I want to touch briefly on a few other items that are tangentially associated with this post.

Recently I have been interested in finding mild climates to live in, and one place I found intriguing is Ecuador, specifically Cotacachi, as I described in a previous post. It is located in a valley at quite some altitude and has temperatures that range in the 45-72F (6-22C) range, placing it into the perfect temperature range for me and the wife. We both share this range as an overlap. She can handle, and prefers it colder, and I prefer temps in the 50-80F range, but this is about the most perfect place I can think of. So I was hunting for more information about living abroad and specifically living in Ecuador… in the process I found Blogger Abroad, a blog of a Canadian family living in the south of Ecuador where it is quite a bit warmer, but the culture is similar.

As it happens, he and his wife blog to make a living, and because of the reduced cost of living in Ecuador if you eat on the economy, you can make it on the income made online. Mind you, Bryan also blogs for About.com, so I imagine they make decent money between all their income streams, as he describes on his blog’s Start Here page. One of the things he writes about is Affiliate Marketing, and Amazon being one of the first and oldest affiliate marketers around. So I jumped in head first and signed up for an Amazon Affiliate account.

Even though I don’t plan on making any huge sums of money from this blog, I figure it would not hurt to try to monetize some of the work I have accomplished on this blog so far and into the future. One thing I plan on doing is to shed my Cable TV bill by getting an iView 3500 TV tuner (review) so I can get my local channels, and then sign up for Amazon Prime for all the pay TV Shows, Movies and Music. In addition, as time goes on I may get Netflix and Hulu, maybe Crackle and a few others.

Anyway, so I spent my hour a day doing this research, and another hour or so writing up this post, fulfilling Point 11 of the above list. As I find time, I will write up the other 11 points of the list and make the whole series available on the blog.

December 27th, 2014

Check my blog today I realized I never posted this to the blog, it had remained in draft mode all this time. I have made some progress on some of the things I mentioned above, including purchasing the iView TV tuner converter box. I will write up a new post and comment on the device, soon, along with several more reviews of different devices that have come my way.

February 21st, 2015

I updated this blog post to fix some typos, and to add a link to a product review.

Employment – Got a job and love it

Posted in Blogging, Employer Work, Employment, Income, Technology with tags , , , , on 2014/08/06 by rmolby

So after being unemployed for around 7 months, I finally landed myself a job. I’d been hunting for a long time, and by chance so a job posting on Craigslist that sounded interesting, so I sent my resume and quoted the job posting in the email, highlighting my skills and other pertinent information.

I got a reply within a few hours and had an interview that Friday, July the 4th, 2014. I was interview by two cool guys that turned out to be my future co-workers. They recommended me to the boss (and CEO) and I cam in the following Monday to meet him and one of the guys.

We had a cool, candid, and long interview, which resulted in a job offer that day, followed the next day with my co-workers issuing me a tablet PC and getting me started that day.

It has been a wild ride of learning the operation since, but I feel like I have been there for a long time. We click, have similar personalities despite being very unique in our own ways, and similar work attitudes. And we like coffee. One of my co-workers makes awesome lattes. So it’s been a whirlwind of around 5 weeks, and I’m loving it. All I have to do is keep up with the learning and training, and make our clients happy, and I should have guaranteed longevity with this company.

The only thing that could currently pull me away from this is winning the lottery!

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