scheff

Hi there, can you explain to us why you chose to invest so heavily in Bitcoin and Ethereum? What gave you the certainty that they would go so well?

forget it. you guys are negative.

I generate a passive income through options trading. It takes a small amount of my time each week.

I have built up a wealth of knowledge through years of study. I have experimented with most forms of passive income over 20 years and found that most of them don't meet the requirements of "passive income".

When I was 25 I moved to London to work in another country, meet new people, have adventures ... live life. Prior to that, I was in a similar position to yourself. This was the best time of my life, and I'm glad I did it at that age. Most people wait until their midlife crisis to do those things, where it damages, or destroys, the commitments they have made.

Travelling is one of the most educational, rewarding experiences you can possibly have.

I would stash my earnings away into an investment, travel the world freelancing with my expertise, discovering new and amazing realities with which to live life.

P.S that's what I'm doing now, 20 odd years later. again.

I see money as a measure of value.

The exchange of butter for chickens, and determining what exchange rate would be satisfactory for both parties, quite often does not take into account the effort, or cost, of producing the goods. Say it costs the butter producer 5 years of raising a cow, including the cost of grain and water, and also the processing costs, in the total cost of producing butter. Say it costs 6 months of very little grain and water to raise a chicken. Should the exchange rate reflect the "costs incurred" for production?

A market determines the value of these goods, as defined by the demand. That market value is explicitly defined by monetary value. In this view, money is simply a digital representation of the value of goods and services, allowing consumers and producers to more easily draw comparisons.

In many societies, a job in social services is valued much lower than say a job in IT. The effort involved might be identical, but the market determines the value of the occupation.

Give it an appropriate prioritization in your life. e.g. "This is more important than X". And have in your mind the REASON why it is more important than X. The secret, that I have read, to success at difficult things is knowing your "why" - Why is this thing more important than X? What does success look like, and how does that compare to X?

Your "why" is what makes you get out of bed in the morning, makes you confront that issue you can't resolve, and to resolve it. If your "why" isn't strong enough, you will likely fail.

I read a quote a very long time ago that simply said "Imagine if man learned how to use all of that energy, that determination, all his resources that he uses for chasing women ... for something else more important?"

I was hoping he would post references as well. I think there are no literal "management design patterns", he just means there are "design patterns for management" in the form of "management best practices". So you would need to dig into each relevant area of management and read the materials on best practices; dealing with staff, customers, partners, boards, ...

My small amount of research discovered that you can live in a serviced hotel room for between 15,000 and 30,000 THB per month, which is $500 - $1000 USD. This was in Chiang Mai. I explored a couple of different hotels.

You can get serious discounts for booking a room for 3, 6 months. Combine that with eating out for every meal (instead of grocery shopping and cooking for yourself) and it's an incredibly cheap option. Meals are as cheap as $1 each.

I've spoken with a few of westerner businessmen in Thailand now, and they re-iterate much the same sentiments.

My view has become "go there as a tourist who happens to spend several months on business" as opposed to "go there with a view to doing business with the locals".

Likewise I have met some lovely Thai people. They are very caring and welcoming.

Any suggestions on how to avoid the 'tourist tax'?

Are there westerners set up over there to help other westerners find cheap rentals, etc?

care to elaborate?

Great write up! I'm thinking of doing the exact same thing. A couple of questions -

Why the limitation to being able to only do 6 months? Do they stop renewing your visa after that?

Have you looked at other neighbouring countries like Laos, Burma and Cambodia for a similar arrangement?

I'm currently creating a touchscreen voting application in HTML for low vision and blind users. AMA.