Protect Your Money — From a Bankruptcy

In most countries of the world, there is so-called deposit insurance.

This insurance usually is government-sponsored and guarantees that the amount you had in your account at a bank that, for example, went bankrupt, will be fully refunded up to the amount of the deposit insurance.

So if the deposit insurance is $100,000 and you had $80,000 in your account, you get the full $80,000 back. If you had more than $100,000, then you lost everything over $100,000.

The trick is to divide the money into several accounts since the deposit protection always applies per account. So if you are…

MONEY

1. Digital money makes us decadent

You can buy anything almost anywhere.
Thanks to modern technology, we don’t even need our wallets anymore.

We can pay on the internet with PayPal, in stores with Apple Pay, Google Pay, or simply with our credit card. We don’t really need cash anymore — paying digitally is usually much more comfortable.

But without us realizing it, it costs us more. The convenience of digital payments is that we don’t have to touch our money — which is the downside. We lose the sense of money and how much we have.

Anyone who has ever paid with cash knows the…

Money / Finance / Investing

Whenever any investment reaches an all-time high, it leads to irrational reactions. “Buying now is the wrong time.” It doesn’t matter whether it’s a stock, an entire index, or a cryptocurrency.

Here’s how and why we’re deluded — and why buying at an all-time high isn’t irrational.

The anchoring bias even applies to graphs

If I want to ask you for a donation, I can do it in two ways.
One of them works much better than the other.

1. “Would you be willing to donate to an endangered species?”
2. “Others have donated up to $100 — are you willing to donate to an endangered species too?”

Even…

Blockchain / Social Media / Finance

It looks like Reddit’s WallStreetBets community is splitting up. The subreddit is now known to the whole world thanks to the GameStop pump.
Now the moderators of the forum have split up — a part of them has big, exciting plans, according to their Twitter.

Until a few weeks ago, the Twitter account wsbmod was the official account linked in the subreddit. Another one is listed on Reddit, which is considered the official mouthpiece of the mods on Twitter.

The former mods behind wsbmod are probably planning to decentralize WallStreetBets — here’s what that means and why they want to…

Cryptocurrency / Blockchain

The market for cryptocurrencies is going crazy — again.
I own about 2000 dollars in different coins.

Cryptocurrencies, especially Bitcoin, outshine all other investments that have ever existed. Still, many people are skeptical of the hype — they have good points, but not all of what they say is correct.

Here are a few popular contra arguments that are pretty weak.

#1 “Cryptocurrencies don’t have any intrinsic value.”

This argument has two major problems.

First, the term “intrinsic value” is a bit problematic.

Second, it mainly refers only to Bitcoin and is therefore invalid as a general argument. But one after the other.

The paper that currencies…

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Relationships / Digital Life

When I was 13, smartphones took over the world.

We started to maintain our friendships through social media. The internet also led to new friendships forming, especially among teenagers. Although social media allowed teenagers to form more friendships, online friendships were ridiculed.

I have a few internet friends. Yes, I am talking about real humans.
Over the years, I’ve met them by chance. To this day, I value my digital friendships as much as my real ones.

Here’s why I think internet friendships are underrated.

#1: You don’t know every detail about them — this opens up a world of possibilities

Think about how you formed your current friendships.

You probably knew your friends before you…

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