To Earn More Money or To Spend Less Than You Earn In Malaysia?

If you have been reading personal finance books for a while, you’ll have come across plenty of ways on frugality--how to living well while spending less in Malaysia.

But do you know frugality has its limits?

It is possible to eliminate all the unnecessary expenses and save money by buying used, comparison shopping and spend less. Sooner or later you’re going to hit what I call your expense floor. Expense floor is the amount of money you need to live at your minimum comfortable level. Once you hit your expense floor, you can’t practically cut your expenses any further.

Everybody’s expense floor is different. It very much depends on:

1. Where you live,
2. How much debt you have, and
3. What you’re willing to sacrifice and what you aren’t.

Often, Gurus love to advocate to SACRIFICE and SPEND LESS. They’ll say you should never take a vacation or go out for occasional drinks and foods with friends. Now, I’m not saying you should indulge in a week in Bali or regular meals at Chilies when you can’t afford it. But I AM saying this: You have to allow yourself to enjoy the LIFE while you work on your financial goals. All within reason.

Why? Because if you don’t give yourself a little indulgence on a frequently basis, eventually you may break down and sabotage your progress by blowing your money on something big. This applies when you attempt to run a few km, work uninterrupted for several hours, stick to a diet, or resist spending money on a regular basis.

Life Won’t be much Fun when you reach your expense floor. Remember, you don’t need to be rich to enjoy life, but nobody WANTS to sweat every dollar month in and month out.

So, you have to earn more money. This is the conclusion I came to several years ago.

Here’s my story.

It was the year in 2014 – and the consequences of my family’s financial fatuity. I needed EXTRA money to cover unwanted debt payments. I could’ve cut out every dollar of “entertainment” spending-the occasional dinner and drinks with friends, my vacation plan, my continuous study plan, but I simply wasn’t able to completely cut this out (because I knew from my experience that overexerting day in and day out only led me to screw up in an even bigger way).

I had reached my expense floor and I couldn’t cut my expenses any more.

Still, I HAD TO DO something about my debt…because I didn’t want to be in debt forever.

That month, I made the decision that would change my life…the decision to earn more money. I was sick of being in debt and I had cut expenses all I could. Then, I decided to figure out how.

I identified four ways I knew to earn more money:

1. Get a raise or higher paying job.
2. Get a second job or freelance.
3. Start a business.
4. Invest in something like … stocks or cryptocurrencies.

Eventually, I would do all four, but I started by invest in something like … stocks and cryptocurrencies.

I don’t necessarily think that investing in stocks/ cryptocurrencies is easiest of the four ways to earn more money, but it’s absolutely the one you can make happen the fastest, in consideration you have found the ways in doing it.

If you have market sought-after skills, you can start your freelance or get higher paying job.

If you have business ideas and determination plus passion, you can start your own business.

If you’re willing to use your most valuable commodity-time for extra pay, you can exchange your time for money by working additional work.

In my case, I start to invest my time in cryptocurrencies and gradually start my own business. I start to invest my time in research into cryptocurrencies and the blockchain space. I start to invest my time in networking and plan for business while maintaining my full-time job.

I think the definition of cryptocurrencies and how we use it is going to transform before our eyes. There is massive user adoption in various cryptocurrencies as its market capitalisation has ballooned over the years. The user adoption of various cryptocurrencies has taken off, with billions in market capitalisation. Maybe 2-5 years later, the world will be using the Bitcoin protocol like we use Email today — as a basic utility for transferring information, but in this case, the information will have value.

In a couple months, I found ways to turn my passion into money. I started crypto mining service and mine bitcoin – today’s most popular and potentially profitable cryptocurrency with the highest market capitalisation. Besides that, I’m closely monitoring market conditions and in case of significant changes, I know how to switch my miners to mine other cryptocurrencies that use the SHA256 algorithm.

What is Cryptocurrencies Mining Service?
Crypto mining is a process where people are rewarded with Bitcoin, Ethereum, and other altcoins in exchange for providing the computing power needed to maintain the network. Until now, this process has been reserved for those with a strong technical background and the resources to buy large server space.

Today, the cryptocurrency industry is operating in both globalised and localised landscape, with borderless exchange operations as well as geographically clustered mining activities.

There are more than hundreds of cryptocurrencies with a market value that are being traded. The common features of these different cryptocurrency systems are the public ledger (blockchain) that is shared in between network participants and the use of native tokens as a way to incentive participants for running the network in the absence of central authority. However, there are significant differences between some cryptocurrencies with regards to the level of innovations.

The majority of cryptocurrencies are largely clones of bitcoin or other cryptocurrencies and merely different in parameters values such as the currency supply, the issuance schemes and the blocktime. These can be referred to altcoins. The blockchain itself has plenty of use cases.

Blockchain Use Case

Is Bitcoin Mining in Malaysia Worth It In Year 2018?
Bitcoin mining can make you a fortune no doubt, but it depends on how much you are willing to spend. There are costs related to mining that the average person finds hard to handle but for the more professional miner who finds ways to pay for the hardware and electricity a profit can be made.

The main problem today is competition as more miners join in, the difficulty level rises. As of today, for a mining block you get 12.5 bitcoin. The reward you get for a block is cut in half every 210,000 blocks so the next halving is set to occur in 2020. So as all investments go, it is best to jump in now and make more profit.

This equipment though is now pretty freely available. People who are considering becoming miners should conduct a cost-benefit analysis and see what their breakeven point is to understand how much profit they are going to make.

Profitability Analysis
As of today, the most advance miner out there is Antminer S9. It’s what is known as ASIC mining rig. It is designed only for mining and provides HashRate of 14TH/s. If we use the Bitcoin Mining Calculator, assuming 2% mining pool fees, 12.5 Bitcoins as a block reward, 14000 GH/s rate, 1375W power consumption and MYR0.45 per KW and exclude the Antminer S9 acquisition cost.

Date	Difficulty (GH)	BTC Price (USD)	BTC Mined Per Month	USD	MYR (3.92)
Feb-17	441	1190.89	0.23092999	275.01	1,078.05
Mar-17	500	1079.75	0.20368025	219.92	862.10
Apr-17	522	1347.96	0.19509602	262.98	1,030.89
May-17	596	2330.23	0.17087269	398.17	1,560.84
Jun-17	712	2499.98	0.14303388	357.58	1,401.72
Jul-17	860	2873.83	0.11841875	340.32	1,334.04
Aug-17	888	4764.87	0.11468482	546.46	2,142.12
Sep-17	1100	4353.05	0.09258193	403.01	1,579.81
Oct-17	1450	6447.67	0.07023457	452.85	1,775.17
Nov-17	1350	9916.54	0.07543713	748.08	2,932.46
Dec-17	1870	13860.14	0.05445996	754.82	2,958.90
Jan-18	2600	10166.51	0.03916928	398.21	1,561.00
Feb-18	3290	10309.64	0.03094874	319.07	1,250.76
Mar-18	3462	9137.8	0.02941195	268.76	1,053.54

Based on past observation, in average, it is managed to earn RM1,651.37 per month and I think it is still a profitable investment at the moment. It takes 6.7 months to breakeven the cost of investment an Antminer S9 of MYR11,000. Note that past performance may not be indicative of future results. However, no one should assume that the future performance of any specific investment or product will be more profitable or equal to past levels of profitability.

Throughout my research, experimentation and finding,

I know mining difficulty up and bitcoin price down, running on a domestic power supply is expensive!

I know miners are costing you a bit more on electricity and it is too noisy!

I know is too much heat and it hard to expand in a large scale!

I know miners are poised to being hack!

So, together with my business partners, we make crypto mining easy and accessible. With a reasonable amount of investment, you can start to enjoy the state-of-the-art mining services and start to receive earned coins as they available. We have facilities in several places in Malaysia where we can run, manage and maintain your miners so you don’t have to.

We can purchase and expand the number of miners that you want to run. We will maintain, debug and clean your miners on a regular basis and to ensure they are running efficiently and reduce down time.

Yes, of course we are going to charge a fee. We are going to charge 32% of coins mined. This covers your machines with an insurance policy, your non-domestic electricity fees and we will maintain and monitor your machines 24/7. The facility has surge protection on all power supplies and filtered cooling in a clean and dust free environment. Machines run cool and clean to prolong their usability and lifetime. More importantly, you can receive monthly report contains our research update such as ICO (Initial Coin Offering) and the blockchain projects.

What If?

Had I NOT increased my income, or not done it so persistently, I would probably:

Still be in HUGE debt.

Not have emergency savings of any kind.

Not have been able to start a family.

If you’re tired of cutting expenses and getting nowhere, make the decision to earn more money today. If you’re willing to do what it takes, this hands down the best way to get out of debt or reach your personal savings goals faster. I know because it worked for me.

Let's schedule a discussion with me here if you would like to know how's the plan work.