#but im assuming thats a topic to be revisited | Explore Tumblr Posts and Blogs

better-every-minute · 4 years

Text

Passive income

active income is bs and jobs are bs and if theres a system i can learn and use to my advantage, provided i dont fuck over other people, then fuck yea im going to learn it and use it. Ive known since i was a child that the idea of selling a third of ur life to survive is stupid and that i wanted to reach a point where the income that came from preestablished sources would overcome the amount of expenses for the same period of time. Aka, ‘escaping the rat race’ :/. my spite for the term and for the topic aside, i promised myself to start early, and like everything i should do and i make promises to myself about, im Still at square fucking 0. Today im gonna talk about that. Bc its a pain to handwrite about and i still havent established a better way to type stuff to myself online, so fuck it, this tumblr it is.

Im going to classify the types of passive income, or rather, its sources, into 2 categories: A) The kind that take large amounts of time, rather than money. This would account for stuff like content creation, where, materials/resources aside, it takes time and effort to create content and market it, but afterwards, it keeps generating passive income. B) The kind that takes large amounts of money, rather than time. This doesn’t mean you *spend* money to create. Unlike time, which cant be taken back, and can only be lost permanently, money can be withdrawn back. Not only that, but, its not so much that you spend money to make money, but rather that youre putting your money *on hold*, and generating an extra income at the cost of not having those funds immediately available on your person. These still require time to come into effect, in the sense that you are to wait for periods of time until you can recieve the bonus yields, but dont require you to spend (a lot of) time and effort into activating these sources of passive income. Instead, you’re required to have large sums of money to put down, as the yield is calculated as a percentage of those funds. Now guess what; Im fucking broke, i have no money to do B). But also, im terrible at making and marketing content, so A) is not super dandy-looking either. Still, I plan on doing some of both, somehow. I am realistic enough to understand i need active income, at least to get the ball rolling. Heck, just to survive even. But i do need a great source of initial income to 1) gtfo of here, and 2) Start making $ passively, and increasing that amount slowly. I plan on not really staying still, at least for the foreseeable future, so my sources, passive and active, must be things i can do remotely, as a digital nomad.

My active income plan mainly consists on getting some initial dependency job somehow, if possible, and meanwhile, to start taking freelancing jobs, be it data entry, translation, product testing(website/app) or whatever im deemed able to do. Eventually, this would allow me to just fly the fuck off and keep working and making enough money to not die. My strategy, predictably, will put a heavy emphasis on spending as little money as possible, extensively researching ways to make things cheaper or to get money back. That way the amount of funding that can be invested is larger. If i can leave this place and couch surf a bunch at friends’ houses all over, even better tbh. As for passive income, since active social media content creation is off the table, im mainly going to focus on the B) category, finding ways to make every penny i hold attract more of its kind, while making everything else cheaper along the way. For this, im relying on a couple things: - High yield FCIs or similar financial objects where the idea is to lend your money and get a little extra at the end of the time period. - Automated trading; both as in copytrading, but also on developing a stable strategy for unstable financial objects, and then simply scripting the strategy into code, so it’ll be performed 24/7. These strategies Must be always profitable, or else i risk losing everything to a stupid bot i coded myself. - Holding my funds (the more, uh, liquid kind) in staking accounts and other similar virtual that reward you for holding money through their platform. - Lastly, I do plan on building things if possible, and figuring some way to make it available but also making an income out of it. I’ve always wanted to make a couple android apps, maybe write some stupid ebook or whatever. Moreover, I’m sure with enough research i can find ways to code things up that automate stuff that make a little money on the side. Or at least code things that make my job easier during ‘active’ work. Automate website testing, Automate data entry, etc. We’ll see. Rn im looking into tutorials for python+selenium, and trying to learn how to use Binance’s API. The idea is to automate the trading strategy so i no longer have to manually do the same thing over and over, since it really only works if you can constantly do it, and thats a bot’s job, not a sleeping, eating, living human’s. The strategy itself is fairly straight forward. It relies on cryptocurrency and other assets’ high volatility. Because their value range is constantly moving up and down to no end, their prices might stay the same overnight, or even rise by the thousands, but within that same day the price might have risen and dropped by 10% before ending in the same place it began. The idea is to simply put buy and sell limit orders at 0.5% amounts away of the market price. When it drops .5%, it buys a certain amount. When it rises 1% from that point, it triggers the second order, and sells the amount it just bought. Conversely, if it rises first and drops later, it simply sells and buys the same amount, the only thing that changes is the extra profit will be in the secondary currency. Since the difference in the orders is in a 1% total price, that means that, excluding fees, the profit is 1% of whatever money you put down for both orders. That is to say, If you want to make 1 dolar, you need $200, and to place 100 to buy, and 100 to sell. So really, you’re making .5% of whatever amount you put down. With leverage tools though, I could expand this percentage, but for that i want to do proper, extensive research on how it works, let alone learn how to automate it too. The point is, because the price of certain assets varies *so much* and So *Often*, these things that make it worthless and unstable for most functions make it great for this type of trading. Note that i dont need to predict a spike or a surge or drop or anything like that. I predict nothing, all i expect, is that the price keeps ranging up and down the way it always does. And if it doesnt, say, if it only goes up and doesnt ever revisit the buy order, then i dont *lose* anything. All i have to do is cancel that order, and start again at the current price.There’d be a little loss between what i payed to buy last, and what i’ll pay to sell this time, but its unsubstantial compared to the amount of times it worked fine and the amount of money it made in its course. Nowadays, btw, 1% of a bitcoin is about ~$100. Assuming 2 bitcoins worth of funding, youd be making $100 every time both orders are fulfilled, which can be anywhere from once a week to multiple times a day. Exciting, right? If you have $200, then you’d be making $1. This also means that if you have 2 BTC, then every time the whole process gets completed, your profit per full movement increases by $1. Aint that cool. Rn I’m gonna research more on how to work the binance api, as well as learn more about supported crypto exchanges and staking wallets. See ya whenever.

#income #passive #active #money #job

0 notes