Posts tagged with "currency"

360 MAGAZINE gaming illustration by Ivory Rowen.

Bitcoin And Online Casinos

Is Bitcoin a viable payment method for online casinos?

There are many payment methods that can be used at online casinos. Bitcoin is being accepted by a growing number of online gambling sites. Bitcoin never seems to be out of the papers these days, so is it a viable payment method for use at an online casino?

The mere fact that online casinos are accepting Bitcoin as a payment method speaks volumes. It is not going to be helpful to anyone if a payment method employed by them is going to cause big problems.

These online casinos will have put a great deal of thought into whether to allow the use of Bitcoin or not. It’s not an overnight decision. A great deal of thought has been put into their decision, and the fact they allow Bitcoin’s use should be seen as a huge vote of confidence in the cryptocurrency.

One site that supports this cryptocurrency is Bitcoin Games online casino. It’s important to do some research before joining any site. Taking a good look at a Bitcoin Games review is helpful. This review gives you plenty of information about the site.

Safety is so important when it comes to online payments. There is still a fair amount of financial fraud that takes place, and of which no one wants to become a victim. Bitcoin can help in this area because of the way it operates as a currency.

Unlike with a credit or debit card, there is no central bank in play with Bitcoin. It is the person who makes the financial transaction that owns the Bitcoin being used. The amount of personal information being made available to possible fraudsters is always a worry with banks, but that’s not the case if you are using Bitcoin. The fraudsters will be upset when realizing they can’t get their hands on your currency. The customer and the online casino itself will be impressed with this situation.

Another worry is that your bank account might be frozen. If you are using a debit or credit card for your financial transactions, it will cause you major problems. However, Bitcoin avoids these issues due to that lack of a central bank.

It’s not just a central bank that is absent. Furthermore, there’s no government to deal with this currency, though the Chinese government are doing their best to warn people off its use. Online sites will be happy that there’s no government to deal with, another reason they like using Bitcoin. There’s no taxation either and transactions cannot be reversed.

There are some disadvantages with Bitcoin, but that can be said of any payment method. How many times do you hear people moaning about their bank or PayPal? The main problem with Bitcoin is how its value can be volatile. That’s common with any relatively new currency and will hopefully settle down in the future. However, that’s more of a worry for those investing with Bitcoin. Just using Bitcoin to gamble online is a much better and safer way of using it.

Computer Illustration by Heather Skovlund for 360 Magazine

Media’s New Currency

What Marketers Need to Know About Media’s New Currency

Source Digital, a leader in providing innovative video advertising, is helping marketers to stop wasting money

It’s estimated that digital advertising grew 12% over the last year, as many people were at home more during the pandemic. With billions being spent on trying to reach people as they watch videos, it only makes sense that marketers turn to new technology to advance key messaging to targeted consumers. Source Digital is leading the way in helping them maximize their revenue with media’s new currency: SAMs or Source Activated Moments. The innovative platform is helping companies stop wasting money and get more out of their video advertising efforts.

“Many marketers are frustrated because they are spending more and more on digital advertising but are not seeing the results they want,” explains Hank Frecon, the chief executive officer of Source Digital. “This is where we come in. We have helped many of these companies gain more control of their digital marketing efforts to get a result that justifies their expenditure. We are here to help to grow their business, and at the same time give consumers what they are looking for in a seamless way.”

Many advertising campaigns are being switched to Source Digital’s patented platform. The new platform gives businesses what they have needed all along, which is a way to offer their products or services to customers that have indicated interest, during videos. Here are five things to know about this new way to reach consumers through digital advertising with SAMs:

  1. New media currency (SAMs) focuses on not disrupting the viewer. People love to watch videos, but they have been turned off by the ads that interrupt what they are watching. Having a platform that will seamlessly allow you to watch a video without ad interruption but still allow the marketer to promote something without stopping their video makes a world of difference.
  2. Many businesses turning to the new media currency are able to greatly increase their revenue, because Source Digital is offering them an entirely new inventory to access to help grow their business.
  3. Rather than traditional advertising working with particular networks, the new method of advertising works across platforms. This makes it easier for marketers to reach more people without having to put in more effort.
  4. The more you know about the audience, the more you can tailor ads to them and improve engagement. The new media advertising platform helps advertisers get more insight into the audience, so they can use that to improve user experience and increase engagement.
  5. The new currency is completely changing how online video advertising is done, and it’s doing so for the better. We all learned a lot from the prior ways that video ads were done, and that information has helped to create a better experience for all moving forward.

“We see the way our platform is helping to transform the efforts put forth by marketing teams,” added Frecon. “We look forward to helping many others get on board. It’s a more efficient way of reaching your audience, increasing profits, and in getting the most from your investment.”

Source Digital’s platform quietly works in the background, gathering important data points about the person, so that it can provide a better user experience and increase engagement. Source Digital has worked with numerous Fortune 500 companies to help create a more engaging and effective video advertising experience. To learn more, visit Source Digital.

About Source Digital, Inc. 

Developed by seasoned technology leaders and inventors, Source Digital delivers a new era of contextual commerce and advertising. Offering the first in-video, contextually driven, frictionless acquisition experience, Source Digital’s technology allows content creators, owners, brands, and retailers to seamlessly engage with viewers across any device or screen in real time. An immersive approach to interactive video, Source Digital’s patented technology inspires brand loyalty organically through continuous, personalized engagement, reducing audience drift while yielding nuanced measurements and substantially increased avenues for monetization.

Art by 360 Magazine for use by 360 Magazine

Dogecoin Interest Spikes

Interest in Dogecoin on Google spikes by 3,000% in 2021 led by the US and Turkey

Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that the global interest in Dogecoin had surged by 3,233% between January and May 9, 2021, when it peaked with a popularity score of 100. During the same period, Dogecoin’s price has spiked by a whopping 12,650%.

The United States has recorded the highest interest in the meme-coin on Google Search with a peak score of 100, followed by Turkey at 86. Canada ranks third with a popularity score of 76. The asset has a popularity score of 62 in Singapore, followed by the Netherlands with 61.

Other countries recording a high volume of interest in Dogecoin include Australia (50), Austria (44), Nigeria (42), Ireland (41), and Slovenia (39)

Dogecoin emerges as the emblem of meme investing 

The rise in Dogecoin began in early 2021, and the report explores the trigger for the spike in interest. According to the research report:

In general, Dogecoin’s momentum began building after investors were eager to find out the next big hit after the excitement around GameStop and other stocks faltered. GameStop stock surged after members of the famous WallStreetBets subreddit rallied the price to new levels. Dogecoin has, therefore, emerged as an emblem of meme investing, a trend that has helped drive up the stocks of GameStop. These stocks have flipped the traditional concept of value on its head.

The rise in Dogecoin culminated in the asset hitting a new all-time high of $0.73. Notably, the interest was also sparked by celebrities. However, Tesla founder Elon Musk has been at the center of the asset’s extraordinary price movement. He regularly tweets in support of the asset.

Read the full story with statistics here!

Money illustration by Heather Skovlund for 360 Magazine

Geniusu × Microschool

GENIUSU LAUNCHES INVESTOR 5.0 MICROSCHOOL TO HELP INVESTORS

THRIVE IN THE DIGITAL DECADE

Genius Group, a Singapore-based public limited company, today announced the launch of GeniusU’s Investor 5.0 Microschool, taking place online from April 12 to May 7, 2021.

The Investor 5.0 Microschool is a four-week accelerator program that covers all four drivers of building Investor 5.0 strategies with personal guidance and mentoring to lead participants towards consistent cash flow and predictable growth.

Genius Group, the world’s No.1 entrepreneur education group, has packaged its top investment strategies, entrepreneur curriculum, and online faculty into a high impact, four-week microschool, that will set participants up to thrive in the digital decade.

Genius Group has generated 10x returns on its investments in the last year, seen its group valuation grow from $30 million to $300 million, and has also made acquisitions of over $80 million in the last year alone. This has all been driven by the investor 5.0 strategies it is sharing with students in this four-week microschool.

Five reasons to join the Investors 5.0 Microschool today:

  1. Learn how to generate 10x increase in your investments using some of the top investor 5.0 strategies that set you up for success in the digital decade.
  2. Learn how to start and manage your investments in global shares & currencies, property, cryptocurrencies, and commodities, together with how to put an Investor 5.0 Portfolio Plan together for 2021 & 2022.
  3. Receive full access to all four modules and session recordings for continuous improvement even after the Investor 5.0 Microschool has completed.
  4. Be connected to over 25,000 in the GeniusU community who are creating opportunities, connections and providing resources for each other as part of our trusted community.
  5. Get in front of 1.7 million entrepreneurs on our GeniusU platform, with your own store and a suite of future proof products.

Whether you are just starting out, you are a passive investor with basic investment knowledge or an active established investor with an investment portfolio, we have the solutions to help you succeed in global shares & currencies, property, cryptocurrencies, and commodities and build an investor 5.0 portfolio.

Join us today to reset, restructure and launch your Investor 5.0 portfolio plan to navigate and strive in the digital decade.

It’s time to turn the great disruption into your greatest opportunity for growth.

To learn more about the Investors 5.0 Microschool, please visit the website.

About GeniusU

GeniusU is an Edtech platform providing over 1.7 million students across 200 countries with personalized learning paths and microdegrees on business building skills.

About Genius Group

Genius Group is a $300+ million group of companies and is the world’s #1 Entrepreneur Education Group. Genius Group was founded by futurist and social entrepreneur Roger James Hamilton. The Singapore-based public limited company also owns GeniusUEntrepreneurs Institute and Entrepreneur Resorts LimitedLearn more here.

About Roger James Hamilton

Roger James Hamilton is a world-renowned futurist and social entrepreneur and is the founder and CEO of the Genius Group of companies. Roger is the New York Times bestselling author of The Millionaire Master Plan, a practical guide to understanding how your mind works to enable you to live your most successful life. He is also the creator of Wealth Dynamics, Talent Dynamics and Impact Dynamics, tools used by over 1.7 million entrepreneurs to follow their flow.

All of Roger’s companies empower the Entrepreneur Movement – collectively growing our ability to create and contribute wealth. Roger studied architecture at Cambridge University before launching his first business, Free Market Media, in Singapore during his 20s.  He was the founding chairman of the renowned Green School, Bali, where his three children were educated.  Roger currently lives in Europe but, when permitted, travels extensively between the UK, USA, Southeast Asia and Australia.

Cryptocurrency illustration by Heather Skovlund for 360 Magazine

Cryptocurrency × NTFs

By: Heather Skovlund-Reibsamen

Cryptocurrency × NTFs

In recent news, Tautachrome Inc. has announced its patent attorney’s opinion on the early applicability of its KlickZie patents. The KickZie application will enable users to capture images that are invisibly marked and verified as the original. The owner of the image or video will have the ability to use, sell, and monetize their images. A simple tap on the image will allow users to communicate with the image’s author or others currently viewing the image. The patent is among many in the market of NFTs (Non-Fungible Tokens).

Cryptocurrency Breakdown:

Understanding cryptocurrency can be a headache! It is best to research thoroughly before investing your hard-earned money into just any digital asset. Let’s start with the basics: what is cryptocurrency?  Crypto, crypto currency, or cryptocurrency is a digital asset designed to work as a medium of exchange where individual coin ownership records are stored in a ledger existing in a form of computerized databases using strong cryptography to secure transaction records, control the creation of additional coins, and to verify the transfer of coin ownership. Now, cryptocurrency does not exist in a physical form, like your wallet filled with dollar bills.

Crypto Coins – Altcoins: Tokens, cryptocurrencies, and other forms of digital assets that are NOT bitcoin are known as alternative cryptocurrencies.

A few examples:

  • Peercoin
  • Litecoin
  • Dogecoin
  • Auroracoin
  • Namecoin

Tokens: Created and given out through an Initial Coin Offering, or ICO – much like a stock offering. Crypto tokens are a blockchain account that can provide functions other than making payments. Tokens are usually issued within a smart contract running on top of a blockchain.

  • Value tokens (Bitcoins)
  • Security tokens (to protect your account(s))
  • Utility tokens (designated for specific uses)

What does it mean when a cryptocurrency forks?

Sometimes a cryptocurrency will ‘fork’ and yes, that does sound confusing. It can be broken down into Forks, Hard Forks, or Soft Forks. Forks can be classified as accidental or intentional. An accidental fork happens when two or more miners find a block at the same, or almost same, time. The fork is then resolved when subsequent blocks are added and one of the chains becomes longer than the alternative. The network then abandons the blocks that are not in the longer chain, then referred to as orphaned blocks.

Hard Fork: A hard fork happens if a protocol or rule is changed so that the old protocol version is no longer valid.

Soft Fork: A soft fork occurs when a protocol or rule is changed, and the old version accepts the new version; enabling it to continue working.

What exactly are NTFs?

 A non-fungible token is a unit of data within a digital ledger called a blockchain. This is where each NFT can represent a unique digital item and are not interchangeable. A blockchain is a growing list of records (blocks), that are linked using cryptography. Each block has a cryptographic hash (a mathematical algorithm that maps data), a timestamp, and transaction data.

NFTs can be used to represent digital files such as audios, art, collectibles, sports, pornography, video games, and other forms of creative work. While copies can be made of these creative means, the NFTs representing the original are tracked on their underlying blockchains; therefore, providing the buyers with proof of originality and ownership.

In order to create an NFT, a file is uploaded to an NFT auction market. This creates a copy of the file recorded on the digital ledger as an NFT. This enables it to be bought with cryptocurrency and then resold. The artist can sell an NFT representing the work and still retain the copyright to the work as well as create more NFTs of the same file.

In addition, the buyer of the file does not gain exclusive access to the work or the original digital file. Unfortunately, a seller does not have to prove that they are the original artist either. There have been many cases where are was used for NFTs without the true artist’s permission.

Most Common Types of Cryptocurrency

Bitcoin: Invented in 2008 by a person or group using the name Satoshi Nakamoto. The currency began being used in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency leading the way for many others in the years to come. Bitcoins were created as a reward for a process known as mining (record-keeping service done electronically). Bitcoins can be exchanged for other currencies, products, and services.

Bitcoin Cash: A spin-off or altcoin of Bitcoin that was created in 2017 eventually splitting into two cryptocurrencies – Bitcoin Cash and Bitcoin SV. Bitcoin Cash is one of the most popular types of cryptocurrency on the market and holds a block size of 8MB. To compare, Bitcoin’s block size is just a mere 1MB. This means Bitcoin Cash processes at faster speeds for its users.

Litecoin: A peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Litecoin is nearly identical to Bitcoin. Created by Charlie Lee to improve on Bitcoin technology, with shorter transaction times, lower fees, and more concentrated miners. In May 2017, Litecoin became the first of the top 5 cryptocurrencies to adopt Segregated Witness – a soft fork implementation change in the transaction format of Bitcoin.

Ethereum: A decentralized, open-source blockchain with smart contract functionality developed by Vitalik Buterin. Ether (ETH) is the native cryptocurrency of the Ethereum platform. It is the second-largest cryptocurrency by market capitalization. Ethereum is also the most actively used blockchain. It focuses on decentralized applications (phone apps) – almost like an app store. Ethereum looks to return control of apps to its original creators instead of the middlemen (like Apple, for instance). The token name is Ether, which is used as currency by app developers and users.

Ripple: A real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc.  Ripple was released in 2012 upon a distributed open-source protocol that supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value (frequent flier miles, for example). Ripple is geared more towards large companies and corporations than it is for individual users. Ripple is well known for its digital protocol because it allows large amounts of money in any form to be transferred.

Lebanon illustration by Rita Azar

Lebanon Currency Crisis

By Rita Azar

The Lebanese currency has severely depleted in value during the last few months. Although many politicians claim that the lira will stabilize at 3000 to a dollar, the currency crisis continues to rock the finances of Lebanon. Ever since 1990, 1500 liras have always equaled a dollar. Although this is a far cry from 1980 when three liras equaled one dollar, the instability of the lira from 1990 on is treacherous to the economy. The worst the conversion rate has ever been was when the dollar reached a staggering 12000 liras.

One must grasp the country’s financial decisions to understand what led to the economic collapse. Lebanon’s broken electricity, water, and waste collection systems has cost the country billions of liras of debt. Before the early 2000s, most of Lebanon’s debt was local; this means that, theoretically, the debt could be paid off by simply printing more lira, which the central bank has the power to do. But after the former prime minister, Fouad Siniora, took billions of dollars worth of foreign loans in 2007, Lebanon needed to collect foreign currency to pay for the debt debt. On top of this, Lebanon’s economy damaged by an immense decrease in tourism and foreign investments. Due to this, Lebanon has used the little foreign money that still exists in the central bank to pay off its foreign debts which leaves the citizens and companies of Lebanon unable to withdraw dollars from their bank accounts.

Due to foreign currencies being rare to find in Lebanon’s economy, they have become far more expensive. In addition, because of the abundance of Lebanese liras, the lira has fallen dramatically in value. This has led to massive gouging by all types of businesses that need to import with foreign currencies that are no longer accessible. In response, the government and central bank have taken measures to stop the massive inflation of the lira. One method is keeping the official rate, 1500 lira to one dollar, from small scale transactions and being a little more lenient with larger transactions by offering a rate of about 4000 lira to a dollar.

But, this means that the Lebanese people are losing money when exchanging foreign currency into lira. This has led many people living in the country to go to the black market to exchange money with rates other than the governmental regulations. While the black market approach has allowed many Lebanese people to get their money’s worth, it has caused the government to enforce stricter exchange rates to control inflation and ban the black market. 

 

https://www.france24.com/en/20200612-lebanon-pound-economic-crisis-protests-imf-aid-bailout-hassan-diab

https://aawsat.com/home/article/2356311/ذعر-في-لبنان-بسبب-تدهور-الليرة

https://www.alhurra.com/lebanon/2020/04/23/يسقط-حكم-المصرف-تدهور-الليرة-اللبنانية-يشعل-الاحتجاجات-مستقبل-مجهول

https://www.tayyar.org/News/Lebanon/358134/دياب–سلامة-مسؤول-عن-أزمة-الدولار

 

5 Reasons Why You Need Coin Tubes

Coin collection is a significant way to preserve history. The safety of your coins is essential if you want to avoid damage. A coin tube is one of the most simple and effective ways in which you can protect your collection.

Coin tubes are available in different styles. You can get round, clear plastic tubes or opaque square plastic tubes. If you’re still wondering why you should get one, check out the following benefits.

Protect Against Acid

Acid can come from several different sources. As time passes, acid can penetrate the cardboard papers and paper coin sleeves, causing toning and tarnish, particularly to copper and silver coins.

You’re also likely to get acid from adhesives that are mostly utilized in packaging. Wood furniture and daily household materials, such as cleaning solutions and vapors, are other acid sources.

Protect from Air Pollution

Air pollution is not only harmful to human health but also coins. It is common in urban areas where smog from vehicles and industries penetrates through the buildings. Although specific measures have been taken to limit the dangerous gases emitted by cars, they still exist in sufficient quantity for coin damage.

In that case, an openly stored coin will not be spared. Fortunately, with coin tubes, you can avoid this damage.

Keep Off the Human Touches

You may think that this is absurd, but touching your coins with bare hands is enough to cause damage. High-grade rare coins are most susceptible to this kind of problem.

The damage takes place once your fingers come into contact with mint state or proof coins. Once this happens, the oil on your hands will stick to the coin surfaces, which can cause discoloring and microscopic scratching on your coins.

All in all, this can be avoided by storing your collection in a durable and airtight coin tube. Consequently, you will no longer have to worry about contamination that can result from your hands.

Protect the Coins from a fall

Dropping your coin on a hard surface is another way in which it can be damaged. The impact can cause an irreversible effect that can lower the quality of your piece. A corroded, dented, scratched or gouged coin is a damaged one.

Fortunately, with the right environment, you will not have to worry about this. Coin tubes can protect your coins against any potential harm. That will, in return, preserve the quality of your pieces.

Humidity

Humidity is a dangerous enemy of a coin. That is because silver and copper are the common materials used during production. The two metals tend to react immediately when they come into contact with water. However airtight coin tubes can protect your coins.

Coin tubes are an excellent way to store and organize your coins and keep them safe from
contamination. If you need one, places like Hobbymaster are here to help you.

Can Facebook’s Libra Make Cryptocurrency Mainstream?

When Facebook announced plans for a stablecoin called Libra, the reaction from the cryptocurrency world ranged somewhere between skeptical and cautiously optimistic.

But, regardless of any specific merits of Facebook’s version of a digital coin, the social-media giant’s move could help speed the adoption of cryptocurrency to a larger audience, says Kirill Bensonoff, a serial entrepreneur and an expert in blockchain.

The biggest issue now is that most people are not familiar with crypto; they think it’s difficult to use, and they may not trust it,” Bensonoff says. “Facebook will put a digital wallet on many phones and computers, and sending payments with crypto will become commonplace.”

Facebook’s Libra is proposed as a stablecoin, which is a form of cryptocurrency. Using Libra, people would be able to buy things or send money to others while paying, at most, minor fees. Unlike other cryptocurrencies such as , the value of stablecoins is tied to an asset such as gold, the U.S. dollar, the Euro or other currencies.

Facebook won’t have complete control of Libra. It’s just part of a bigger group of partners that’s creating the stablecoin.

What might all this mean for the future of cryptocurrencies – and for the average person who still knows little about them? Bensonoff says a few things worth knowing about Libra in particular and stablecoins in general include:

Bringing stability to cryptocurrency. As the name implies, the idea of stablecoins is to bring more stability – and more peace of mind for wary investors – to the world of cryptocurrency. “I don’t think Facebook will bring stability immediately,” Bensonoff says. “I believe it’s going to take a lot more in terms of mass adoption, but Libra could be a step in the right direction.”

The SEC’s view. Regulators at the Securities and Exchange Commission have been eyeing stablecoins with the possibility that some of them could be classified as securities. “That could put stablecoins in the same category as stocks, subject to the registration, disclosures, and accreditation of investors that demands,” Bensonoff says.

Will Libra replace PayPal? Maybe not, considering that PayPay is one of the founding members of Libra, Bensonoff says. “I think they will have some influence on the direction,” he says. “However, crypto in general is a threat to all existing payment processors, including PayPal. I believe PayPal is smart and will adopt and accept crypto payments, and they will figure out a way to monetize it. The downside for them is they won’t be able to charge nearly as much as they do now.”

“I believe Libra is going to have a positive impact in terms of awareness, adoption and interest in cryptocurrency from both businesses and consumers,” Bensonoff says. “But at the same time, with that could come more regulatory scrutiny.”

About Kirill Bensonoff

Kirill Bensonoff has over 20 years experience in entrepreneurship, technology and innovation as a founder, advisor and investor in over 30 companies. He’s the CEO of OpenLTV, which gives investors across the world access to passive income, collateralized by real estate, powered by blockchain. In the information technology and cloud services space, Kirill founded U.S. Web Hosting while still in college, was co-founder of ComputerSupport in 2006, and launched Unigma in 2015. All three companies had a successful exit. As an innovator in the blockchain and DLT space, Kirill launched the crypto startup Caviar in 2017 and has worked to build the blockchain community in Boston by hosting the Boston Blockchain, Fintech and Innovation Meetup. He is also the producer and host of The Exchange with KB podcast and leads the Blockchain + AI Rising Angel.co syndicate. Kirill earned a B.S. degree from Connecticut State University, is a graduate of the EO Entrepreneurial Masters at MIT, and holds a number of technical certifications. He has been published or quoted in Inc., Hacker Noon, The Street, Forbes, Huffington Post, Bitcoin Magazine and Cointelegraph and many others.

Neurotriggers

In the early to mid-1970’s, a million dollars was a great deal of money, and thinking about becoming a millionaire was thinking very big indeed. A million dollars was a fortune to be amassed. Today it is a yearly income, or, at best, a couple years’ income needed by anybody attempting to amass a real fortune.

In a documentary on Ted Turner, he was bemoaning the loss of much of his wealth thanks to AOL/Time Warner, and worrying about being “down to a billion” while still in his 70’s — he said he hopes to have enough left to retire on someday. You can, he pointed out, get by on a billion if you’re careful and don’t buy too many planes or yachts. He was speaking tongue-in-cheek, but not totally. Just as 80 is the new 60 and we hope 100 will soon be the new 80, a billion is the new 25-million.

The first arsenal of skills and strategies one should master are those of survival. How to be broke but live well. How to pay one credit card with another. How to look the part and act as if. Some of these skills have lasting value, but most become an impediment, standing in the way of developing the different set of skills one needs next. I think overall, one of the hardest things we do in life is shed the thoughts, attitudes, skills, habits, associations that worked for us when doing “A” but hold us back and get in the way of doing “B”. We shed skin easily and automatically. We do not shed thoughts and behaviours so easily.

The second arsenal one should master are those for making money. Lots of it. In chunks and surges. These days, to be a millionaire is not all that complicated. If you happen to be young, 20 or 30, you can very, very easily reach and surpass that benchmark purely with an intelligent retirement plan (or other tax protected savings plan) by saving and contributing the maximum amount allowed every year. Or by buying a few good homes and owning them for the long haul. That will get you a million dollars someday.

To take it one step further, earning a million dollars per year – even though that certainly puts you at the 1% pinnacle of society – is also actually not all that difficult. A great many businesses or combinations of businesses provide such opportunity. It is, for example, nothing more than 1,000 transactions of $2,000.00 each with 50% net. Or 100 at $20,000.00 each. Or 1,000 customers giving you $100.00 a month. Or 2,000, giving you $50.00. I just read a report of a Gourmet Bacon Of The Month Club providing its owner with such income. Bacon.

Making lesser but still significant income, $100,000.00, $200,000.00 a year, even easier. A good handyman with nothing but a cellphone could have a ‘concierge practice’, with, say, 25 clients each paying him $300.00 a month…$7,500.00 a month, $100,000.00 a year. Just not that tough. More mental barriers than anything.

But if you start to think in terms of creating and keeping a small fortune in the 10-million to 50-million-dollar neighbourhoods, rather than just a million or two, the arsenal of required once again changes substantially. The knowledge needed, different. The mind-set needed, different. Here, in this space, an odd combination of daring, speed, grabbing of opportunities must be counter-balanced with a concern for preservation of capital, a diligent management of the money, not just making it.

I spent time the other day with one of my long-time clients who personally earns about 5-million a year and is worth about 4 million. He is busily involved in dozens of high-pressure projects. He said, “I often fall into shit. Sometimes I come up with gold. Other times I come up with shit. My success rate does not distinguish me. Being willing to dive into shit, that distinguishes me.” Different mindset.

We’ve talked about speed. To become a millionaire, you can do things slowly, methodically, logically, sequentially, neatly and cautiously. To be a multi, multi-millionaire, you cannot.

To stay a millionaire once there, you need to conserve. To buy carefully, spend reluctantly, invest wisely. Never paying more than is necessary. To stay a multi, multi-millionaire you need to be more aggressive. You often cannot afford to get the very best buy, as your time and lost opportunity is far more valuable than the deal available across town.

There is a hierarchy of sorts for independent business. It is: shopkeeper; business owner, entrepreneur; entrepreneur-investor; investor-entrepreneur. One of the painful aspects of moving through these stages is doing less of something you’ve mastered (and can do easily), in favour of doing other things you’re clumsy and uncertain at; the constant setting aside of old tools with which you’re expert in and picking up new tools you are profoundly inexpert with; of climbing Maslow’s step again and again and again.

Questions: What skills do you have that are useful not just at present but for where you want to go? What present skills are holding you back? What skills do you lack currently, but will be needed for the spot just ahead on your chosen road? Do you even have a Personal Skills List each ranked 1-10, and a list of New Skills In Development?

For additional information visit http://neurotriggers.com/

Winning Loyalty Programs

Research shows increasing your customer retention rate by five percent has the potential to increase your profit by up to 95 percent. With the potential for a payoff like that out there, it’s absolutely imperative to consider as many ways as possible to hold on to your existing customer base. A proven method of accomplishing this is rewarding repeat customers with special offers in an effort to strengthen your relationship with them. Here are a few examples of winning loyalty programs to consider.

Make Points of Purchases
Perhaps the most common loyalty program, point systems entice customers to make a set number of purchases to earn a valuable reward. The key here is to make it easy as possible. Southwest Airlines had one of the simplest point programs ever devised by an airline. For every 10 flights you took with the airline during a calendar year, you got one free. Take 20 you got two, take 30 you got three, 40 got you four and so on. Easy to understand and easy to redeem it was one of the all time great frequent flyer programs. You can follow the airline’s lead for your ebook store. For every 10 books a customer buys in a year, they get one free. The key is simplicity. People got very upset when Southwest switched to a more complicated program.

No Fears of Tiers
As you’re strategizing ideas for how to sell an ebook online, consider instituting a program in which rewards become more valuable as your customers move farther up the food chain. Let 10 purchases get a customer a relatively inexpensive gift, while 30 garners them a better gift and 50 earns an even more valuable one. You can assign level designations as they make more purchases too. Purchasing 10 items within a certain time period qualifies them for “Silver Status”. Buying 30 makes them “Gold” while 50 turns them “Platinum”. Along with gifts can come ever more desirable perks as customers reach the upper tiers. These can include benefits such as chats with authors, sneak previews of new titles and opportunities to purchase new ebooks before they’re published.

It Pays to Play
Subscriptions and memberships are excellent ways to reward loyalty and get customers to make purchases in advance. Plus, they get a feeling of importance because they belong to your site’s VIP group. Wineries have been doing this with wine clubs for years. Similarly, the Amazon Prime strategy rewards users with fee two-day shipping; free streaming videos and a host of other benefits non-members don’t get. Remarkably, providing Prime benefits costs Amazon more than it makes in fees for them, but it serves as a loss leader. The company loses money on Prime memberships, but more than makes up on the purchases its Prime members make.

A Coalition of the Willing
By partnering with other merchants, you can allow your customers to earn discounts on other products and vice versa. This gives them the ability to turn their book purchases into currency on sites offering other things in which they have interests. Getting to know your clientele will serve you well as you determine what partnerships will be most beneficial. If your site caters primarily to a female shopper, then teaming with other sites offering products in which women are most likely to have an interest can be quite successful. The key is building a willing coalition of partners to which your customer base can relate.

These are the four examples of winning loyalty programs are the most common you’ll find. Of course, there are a number of ways within each category to incorporate your own nuances. This will make it uniquely your own and ideally make participating even more attractive to your ideal customer.