For ages, lighthouses have served as a symbol of port for mariners. Their usage has continued to increase manifold with increasing maritime trading.
Lighthouse photography is a popular pastime for many people. There are multiple Facebook groups actively run by enthusiastic folks.
Cape Cod, MA
The powerful light emitted by the lighthouses can sometimes be seen as far as 25 miles. Lighthouses are usually made of brick, wood, granite, cast iron and concrete.
Hawaii
Some interesting facts about lighthouses:
The “Lighthouse of Alexandria” built around 3 BC in Egypt is believed to be world’s first lighthouse
The “Tower of Hercules” in Spain is considered oldest intact lighthouse
US has highest number of lighthouses than any other country
The first lighthouse in US was on Little Brewster Island, Boston
Portland, Maine
The site of Louisbourg Lighthouse, in Nova Scotia, is considered Canada’s first lighthouse.
Louisburg, Nova Scotia, Canada
With the advent of modern navigational systems, solar and electric powered lamps, most of the lighthouses don’t need a keeper now. Which makes you wonder if lighthouses are still relevant in modern times? What do you think?
A Cryptocurrency is a digital asset that can serve as a medium of exchange between people.
Cryptocurrency
What is Cryptocurrency
A cryptocurrency (crypto) is a digital asset that is created by “mining” a digital coin on a computer. It’s ownership can be transferred and verified using technology called Blockchain. It can serve as a medium of exchange of digital assets between two parties.
Hard lesson in learning difference between investing and speculating
One of the most famous crypto currency in the world is Bitcoin. Bitcoin recently went from being valued ~$60,000 to ~$30,000 within a matter of days. Along with Bitcoin, almost every other crypto coin fell off the cliff.
Big crashes devaluing more than 50% of the crypto values have occurred regularly. The crypto world is full of extreme volatility. It would be nice if you have a time machine to get in and out at the right time, but you don’t.
Folks, this is what an unregulated (free) market truly looks like. There are no government bailouts, no central banks pumping money into the system, no circuit breakers, and no tax-loss harvesting. Scary!
Crashes are common in stock market also, which serves valuable lessons to differentiate between investors and speculators. But in crypto world, I am not sure how many are true investors, unless they got in when Bitcoin was below $5000. But again, was that being smart or plain lucky?
Do not put your life savings in crypto, don’t depend on it for your retirement and don’t consider it as an “asset”. Think of it like you are going to a casino to have fun. If you double your money, all good, but don’t fret over if you lose all of it. Treat it as “play money.
Prepare to be humbled! Investing is as much a mental game as financial. If your ego is hurt, you have no business trading cryptos. This is high-risk/high-reward game. Proceed accordingly!
Final Verdict
If you do decide to buy crypto, make sure you truly understand what you are getting into. Are you speculating, doing it for fun or serious about owning digital coins. Perform your own due diligence before venturing into the Crypto world!
We hope the information in this post will be helpful in your journey of aspiring nirvana!
NFT is a digital equivalent of a physical collectible item.
NFT
What is NFT
NFT is a digital equivalent of a physical collectible item that can be a sports card or an artwork. It represents a unique digital asset whose identity including: original creator, selling/payment information and buyer (current owner), can be authenticated and stored on a blockchain technology platform.
NFT is abbreviation for “non fungible token”. Fungible means the item can be exchanged like-for-like. For example, if you have five $20 bills, you can go to a bank and exchange those for $100 bill. Conversely, non-fungible means that item is unique. An example of such unique items can be a sports card or an artwork.
Famous NFT cases
There have been some high profile NFT cases: Lebron James dunking video sold for $208,000, Beeple sold his digital artwork for $70 million and Twitter CEO Dorsey 1st tweet sold for about $3 million.
Collectibles
Why is it gaining popularity
NFT has grown in popularity lately for variety of reasons. People genuinely supporting artists, art collectors who wants to own digital artwork, crypto bulls advancing crypto currency eco-system, or maybe some people having too much money and thus using it for pure speculation. Additionally, a physical artwork may get damaged or stolen, but digital artwork is preserved on internet forever.
Skepticism about NFT
Despite all the recent euphoria, there is healthy skepticism about NFT. When you buy a digital artwork as an NFT, you cannot physically keep it or touch it as it is stored digitally on internet. You may not necessarily “own” it, as you may have to pay royalty to the original creator if you sell it. You may “own” the asset but that does not prevent other people from copying them. Additionally, you may have to trade an NFT using crypto currencies with potential hidden fees.
How do I trade NFTs
If you want to buy or sell NFTs, you can do that by creating account on NFT marketplaces like NBA Top Shot, Mintable or OpenSea. Remember that you may have to trade using cryptocurrency, bid in an online auction and pay transaction fees.
NFT – Artwork
Final Verdict
If you do decide to buy NFT, make sure you truly understand what you are getting into. Are you speculating, doing it for fun or serious about owning digital artwork. Perform your own due diligence before venturing in the NFT world!
We hope the information in this post will be helpful in your journey of aspiring nirvana!
