Bitcoin And The Future Of Futures

I write for the finance and investment website ValueWalk. My post entitled Bitcoin And The Future Of Futures is now online. Here is an excerpt:

Some retailers around the world already accept Bitcoin, but they do so on a spot market basis, exchanging the bitcoins for their own currency within seconds of acceptance. Some might say that demotes the status of Bitcoin to a mere novelty version of money, since it cannot stand on its own. Others will say the transaction is on par with any other foreign currencies that retailers might accept at the day’s exchange rate.

Volatility is the problem that leads to the question, “Why can’t Bitcoin be purchased on a futures market like oil?” Oil also has an issue with volatility, as can be seen every time a major refinery catches fire, or an oil producing nation decides to turn the taps off. But with oil and other commodities, futures are based on a delivery of tangible product, like an actual barrel of oil or bushel of wheat. With Bitcoin, there are no actual coins, there is simply the value of those coins, agreed upon by its users and miners, and based on faith paired with scarcity.

To read more, please click here.

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WannaCry, Mixers, And Bitcoin Wallets

I write for the finance and investment website ValueWalk. My post entitled WannaCry, Mixers, And Bitcoin Wallets is now online. Here is an excerpt:

Amid the furor of the August 1 Bitcoin Fork, another interesting thing happened. The individual(s) behind the WannaCry ransomware attack started to empty their bitcoin wallets. The $140,000 worth of bitcoin they originally collected gained about 20% more in value during the split, and it was around that time that the virtual money started to move.

The activity was detected by Keith Collins of Quartz, who used a bot to watch for movement in the accounts. The bot observed the initial withdrawal of $70,000, which was then followed by additional amounts from other bitcoin wallets until all the money was gone.

To read more visit ValueWalk here.

How to Say No to Your Boss

The “No” answer starts long before the question is asked.

My approach to time management, and consequently being able to say “no” to your boss is based on two skills: psychology – specifically the psychology of influence – and project management – the art of planning and managing work.

To say no to your boss, you must take the proactive step, long before, of managing up: setting up a time once per week, for a huddle, in which you can inform your boss as to your workload and timelines, including personal/family commitments. Using a visual tool like a Gantt chart will help as well. Although a manager seems to have the right to ask people to take on extra work, physical visual proof of busy-ness is a powerful tool of influence. It gives you leverage.

The second benefit to regular huddles is the development of a relationship. You can build greater trust with your manager once s/he starts to know you better. Trust and relationship also go far in the negotiation process.

Third, be prepared to offer an alternative. Your Gantt chart/calendar and your positive relationship should go far in terms of offering a time other than the weekend to take care of the pressing task. Often, managers themselves have poor time management skills and think everything must get finished right away.  If you can offer a spot of time next Tuesday afternoon, that might be sufficient.

Fourth, if this type of thing happens often, it’s time to plan for it in advance. I call this crisis management. A request to do extra work over the weekend is a crisis. If this is a regular occurrence, then it should be scheduled into your calendar – as in, 2 hours per week are reserved for the boss’s next crisis. If you know it’s going to happen, then schedule for it now.

Finally, ask yourself why these last-minute requests are happening at all. Again, this goes back to poor planning on the part of the boss. Use that same huddle to help project plan his/her priorities so that the urgency doesn’t have to happen at all.

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What Is Ethereum And How To Buy It?

I write for the finance and investment website ValueWalk and I posted my commentary entitled What Is Ethereum And How To Buy It? there today. Here is an excerpt:

Let’s start by getting the terminology straight. Ethereum is an open source code designed primarily to govern smart contracts on the blockchain. A smart contract is any contract between parties, especially those that lack a level of trust or credit rating. An example may be the sale of fair trade coffee. How would a wholesale purchaser know the coffee is fair trade? They would feel much more confident if the entire coffee production and preparation process was verified and incorporated into a smart contract that itself is sealed immutably inside a block on the blockchain. Ethereum allows developers to build their own apps on its open platform.

Part of the Ethereum code is Ether, described as the fuel that makes the contracts work. It can also be seen as a currency of sorts, and may emerge as a competitor to, or even replacement for Bitcoin, depending on how the lava flows. Ether is presented in coins, and can also be referred to as an Ethereum coin.

To read more, please visit ValueWalk here.

ValueWalk Post: How To Buy Bitcoin: A Guide For Beginners

I write for the finance and investment website ValueWalk. My post entitled How To Buy Bitcoin: A Guide For Beginners is now online. Here is an excerpt:

First, the Wallet

You’ll need a wallet. Not a nice leather billfold, because Bitcoins are not physical. There are no coins and no paper bills involved. It is all virtual. The Bitcoin wallet is an app that you can download to your phone, and your computer. It contains two 16-digit passwords: one is called a public key, and the other is a private key.

Quite simply, when you buy Bitcoin, your wallet sends your public key information to the vendor, the same way you would enter a credit card number into an online form. The public key tells the vendor’s app where to send the Bitcoin amount. The private key is the password you employ to confirm the transaction from your end. This one-time code is reviewed by the computers on the blockchain, who then approve the transaction unanimously as representing your receipt of a certain amount of Bitcoin. Once the code has been accepted by the computers on the blockchain, your wallet’s information will say it has some Bitcoin in it, and then the code is sealed permanently into the next block on the chain.

To read more visit ValueWalk here.

Arguments Against Time Management

Here are the most common objections to establishing a time management plan. See how many fit your mindset, or that of your colleagues.

This is an excerpt from my book, Cool Time: A Hands-On Guide for Managing Work and Balancing Time. If you want to learn more, please check out the Books page on this website.

Common Objections to Time Management

Nobody appreciates being told how to act. Books on time management often force people to adopt techniques that go against their natural preferences, such as using a certain type of agenda, or doing certain things at certain times, in short, taking some of the fun out of life. Such fears and objections are perfectly sound, since people are conservative by nature. Change generates fear of the unknown, a fear of failure or of being seen to fail. This fear goes back all the way to the early days of our evolutionary history. Like the rest of our metabolism, it cannot be changed so much as understood and properly channeled.

The purpose of Cool-Time is to help you take the principles and apply them to your environment, culture and preferences in the most comfortable and proactive way possible – the one with the greatest payoff.

Time Management Doesn’t Allow for Spontaneity

In fact, it’s perfect for spontaneity, since it allows for the existence of “free time.” By keeping the day in order and with a day plan in mind, spontaneous activities can occur without endangering or forgetting the other activities and priorities of the day. Being able to take some time for yourself is essential, but in the real world this can only truly work if the other tasks are understood, prioritized and accounted for.

The best way to be spontaneous in life is to plan to be spontaneous.

It’s Only Good for People in a Routine, and That’s Not Me

Everyone has a routine. Some routines are just more obvious than others. A person who does shift work, or someone who has a fixed list of tasks to accomplish day in and day out, has her routine clearly mapped out. However, we all have a routine by the very nature of the 24-hour clock and our circadian rhythms.

The first stage in effective time management is to step back, observe the constants and standards in your life, and then recognize the routine in which you operate. Then, like a fish suddenly discovering the water in which it lives, the patterns of your existence will emerge for you to manipulate and finesse. If you can’t identify any distinct routine happening daily, step back and observe your activities over a week or a month. Your routine will emerge, and will serve as the foundation for your time management plans.

It May Work for Others, But It Simply Won’t Work Here

Our environment is too different. Everyone says that. Everyone thinks their business has unique pressures and requirements that make any time management regimen unworkable. Whether you work in the public or private sector, or a not-for-profit; whether you are a student, a homemaker, between assignments, a manager or an up-and-coming professional, you are in the business of selling “you” to other people. Also, no matter what activity you are involved in, there is someone, somewhere who does it better, or did it better. There is always opportunity for improvement, advancement, and refinement. It’s up to you to identify how to make that happen.

I Have No Time to Put Together a Plan

Actually, you do have the time, it’s just been assigned to other tasks. Time is neither made nor found, simply rearranged, much like the Law of Conservation of Energy we learned in Physics 101.  Let’s put it this way. If you are a working parent, and your child’s school calls to say that she is sick and needs to see a doctor, there’s not much on this earth that would stop you from going to her side right away. Even if you’re not a parent, a sudden toothache or a broken finger is going to change your schedule for the day pretty quickly. Most of your colleagues will be accommodating, and the work will get done later. The point is, time can be found when it’s important enough. The benefits of Cool-Time are tangible. They translate into money, health, satisfaction, and control. Cool-Time is important enough to make the time.

I Work Better Under Pressure — I’m A Last-Minute Kind Of Person

Nobody really works better under pressure, since pressure immobilizes higher brain functions and replaces them with fight-or fight reflex. In short, pressure instills mental paralysis. What last-minute people do well is to compress their action and energy into a smaller block of time, not letting a project drag on, but keeping it on time.

When I Need To, I Just Work Harder – Hard Work Equals More Work

Hard work without planning is like chopping a tree with a dull axe. Huge amounts of energy go misspent, and sometimes it will not yield any product at all. You cannot make bread twice as fast by putting in twice as much yeast or by setting the oven twice as high.

I’m Already Organized, And I’m Doing Just Fine/I Have a System

I’ve used it for years. If you have a system and that system works for you and your colleagues in a satisfactory way, then that’s great! Congratulations! Still, there is always opportunity for improvement. Take a moment to observe your current work environment and note whether certain tasks or procedures could be tightened up to win you back some more time. To be able to embrace change, it is necessary to confront your objections. Note any feelings or resistance you may feel towards continuous improvement, and assess whether your arguments can be countered, or whether your current way of doing things is adequate.

Check out my book, Cool-Time. Information on ordering is available on the Books page.

Break Down Large Tasks and Backlogs Through Carryover Momentum

2nd-Edition-Cover-FrontThe power of planning is an amazing thing. Whatever day of the week it is as you read these lines, think back to what you were doing one week ago. Doesn’t seem like seven days, does it? It’s not fair, how quickly time seems to fly, but that’s life.

If you are faced with a task that is too big to get done all at once, the chances are that another week will slip by, then another, then another. Though this might be considered procrastination, it’s not always the case that you’re actually consciously putting it off, so much as never quite getting around to it – there’s a difference.

To that end, there is the principle of carryover momentum, in which it becomes possible to break up a large task, and then schedule and deal with it regularly and consistently over a period of days.

If you were to assign one hour per day to a project, you wouldn’t feel that much headway had been achieved after the first hour on the first day. But if you were able work on the project one hour each workday for a month, that’s 20 hours, or two-and-a-half full business days. For larger scale projects, that one-hour per day, even with weekends and holidays off, becomes 250 hours in a year, or the equivalent of one month’s worth of workdays. That’s a lot of time!

The reason why this technique is called carryover momentum goes back once again to the workings of the brain. By returning to an ongoing task on a daily basis – preferably, but not necessarily at the same time each day – the mind continues to retain and access the creative momentum of the previous day. It significantly reduces the amount of “let’s see now, where was I?” that happens when a project is picked up after a week or two of inactivity.

This is yet another example of how to capitalize on the strengths and weaknesses of the brain to get the right work done in the right way within the constraints of a busy day.

So, if you are facing a large project at work, and you feel overwhelmed by the size of it all, do not despair. That sense of overload is normal. It’s mental paralysis, the manifestation of the fight-or-flight reflex, draining nutrients from the thinking area of the brain. Its treatment is tangible, logical knowledge, represented by a simple calendar. By laying out a collection of one-hour blocks across a calendar (larger blocks for larger projects), it becomes possible to map the project across time, and assign tasks accordingly. Where once you had a mountain blocking your view, you now have a mountain with a staircase carved into it.

This is an excerpt from my book, Cool Time: A Hands-On Plan for Managing Work and Balancing Time. If you would like a copy, hop on over to my Books page. If you would like a workshop at your location, or if you would like to attend a live webcast, check out the details at my company, Bristall.com. If you would like me to come and speak to your group, contact details are available on my Speaker page. If you would like to listen to my podcast, check it out here. Either way, you will win back time and money. It’s just practical common sense.

CoolTimeLife Podcast Episode 6 (Managing Your Metabolism) Show Notes

In my 6th podcast, released February 27, 2017, I discuss the impact your metabolism has on your day, your sleep and your work. Here’s the blood sugar curve that highlights the roller-coaster energy level of a typical day:

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Here is the black light aquarium room at Google. Pretty cool, eh?It’s an extreme example of a creative workspace. You might not be able to get your employer to spring for one of these, but the same benefits of mental decompression, can be obtained by taking the time to go for a walk.

blacklightaquarium

For more information about sleep, check out the excellent website Van Winkles.

I mentioned effective meetings in this podcast. This was dealt with in detail in Episode 4 – The 55-Minute Meeting.

If you are discovering this post before having heard the podcast, search for CoolTimeLife on iTunes, or visit Blubrry.com, which will point you towards iTunes, Android and others.

CoolTimeLife Podcast Episode 4 (55-Minute Meeting) Show Notes

In my 4th podcast, released February 13, 2017. I discuss the power of the 55-minute meeting. A couple of the key points that were listed in the podcast:

A meeting is supposed to:

  • coordinate action
  • to exchange information
  • to motivate a team
  • discuss issues, ideas or problems
  • and/or to make a decision.

Some of the many complaints people have about meetings:

  • There are too many of them
  • Many are unnecessary
  • They don’t start on time or are held up due to late arrivals
  • They have unclear agendas
  • They go on for too long
  • The wrong people are invited
  • People introduce irrelevant topics
  • They conclude with vague ideas and unresolved issues
  • They end late

The ideal 55-minute meeting can be set up like this:

55-minute-meeting

If you are discovering this post before having heard the podcast, search for CoolTimeLife on iTunes, or visit Blubrry.com, which will point you towards iTunes, Android and others.

Applying the Right Conditioning, Not On Your Hair, On Your Colleagues

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One of the best ways to become more productive is to proactively manage the expectations of others, rather than simply react to them the moment they appear. This sounds tricky at first glance, but it really comes down to conditioning.

Conditioning makes gains through positive reward.

Many types of creatures can be conditioned by way of a food reward, after they perform a desired action. That’s what the whole “Pavlov’s dog” thing was about. With our human colleagues the same approach can be applied, but instead of food, you can use another basic need, and that is comfort. Whether they are your co-workers, clients, colleagues or managers – they all crave the comfort of knowing their current need will be handled. When you address that craving, you deliver comfort to them.

But comfort can come in two forms: you can do what they ask, or you can manage their expectations. The first response conditions people to know they can always get what they want from you right away. For example, a colleague sends you a work-related email at 11:30 p.m. If you respond to it, you are conditioning the sender to always expect the same type of 24/7 service. That’s great for them, but not great for you.

The second – managing their expectations – gives them the comfort of knowing they have been heard and will be attended to, within a reasonable amount of time. This second choice, I believe, is much better.

To protect your valuable working time, and to use it correctly, we have to identify every opportunity to influence and soothe the wills and egos of those around us. Simply blocking off time or disappearing into an unused office to get work done, for example, runs the risk of causing the people around you great worry – not for your safety, necessarily, but for the satisfaction of their own needs. They will continue to try to find you.

If you don’t feel like performing this type of expectation-reward conditioning, remember that choosing not to condition is still conditioning. Whichever response you give to a request or interruption, it becomes the precedent for future expectations.

Let’s put it this way: a colleague comes to you with a task that he perceives as urgent. He wants you to do it. If there is no one else who can do this task but you, there are three possible answers:

  • I’ll do it now.
  • I’ll do it later.
  • I can’t do it now, but I can do it at 2:00. How’s 2:00 for you?

The first answer, “I’ll do it now,” informs the requester that you are willing to drop everything to accommodate the request. That’s not good. Once precedent has been set, the expectation is that you will do so again and again, and you will lose control of that relationship.

The second answer, “I’ll do it later,” is unacceptable to your colleague’s need for comfort. They demand satisfaction, and a vague answer isn’t enough. Any time we use avoidance without an acceptable alternative, the requester remains motivated to pursue a better answer.

The third answer presents a suitable alternative to “now.” In this case, 2:00 is sufficiently close as to soothe the requester’s need for satisfaction, without requiring that you drop everything immediately. Providing that you actually pay this confidence back by dealing with the request at 2:00, you will have conditioned your colleague to recognize that you are accessible, albeit, more on your own terms.

This is an excerpt from my book, Cool Time: A Hands-On Plan for Managing Work and Balancing Time. If you would like a copy, hop on over to my Books page. If you would like a workshop at your location, or if you would like to attend a live webcast, check out the details at my company, Bristall.com. If you would like me to come and speak to your group, contact details are available on my Speaker page. If you would like to listen to my podcast, check it out here. Either way, you will win back time and money. It’s just practical common sense.