Monthly Archives: January 2024

NEVER PUT TOO MUCH TRUST IN FRIENDS, LEARN HOW TO USE ENEMIES

30 Tuesday Jan 2024

Posted by in Empowerment

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Be wary of friends, they will betray you more quickly than your enemies, for they are easily aroused to envy. They also become spoiled and tyrannical. But hire a former enemy and he will be more loyal than a friend, because he has more to prove.  In fact, you have more to fear from friends than from enemies. If you have no enemies, find a way to make them.

WORK WITH YOUR ENEMIES

It is natural to want to employ your friends when you find yourself in times of need. The world is a harsh place, and your friends soften the harshness. Besides, you know them. Why depend on a stranger when you have a friend at hand?

The problem is that you often do not know your friends as well as you imagine. Friends often agree on things in order to avoid an argument. They cover up their unpleasant qualities so as to not offend each other. They laugh extra hard at each other’s jokes. Since honesty rarely strengthens friendship, you may never know how a friend truly feels. Friends will say that they love your poetry, adore your music, envy your taste in clothe, maybe they mean it, often they do not.

When you decide to hire a friend, you gradually discover the qualities he or she has kept hidden. Strangely enough, it is your act of kindness that unbalances everything. People want to feel they deserve their good for­ tune. The receipt of a favor can become oppressive: It means you have been chosen because you are a friend, not necessarily because you are de­ serving. There is almost a touch of condescension in the act of hiring friends that secretly afflicts them. The injury will come out slowly: A little more honesty, flashes of resentment and envy here and there, and before you know it your friendship fades. The more favors and gifts you supply to revive the friendship, the less gratitude you receive.

The problem with using or hiring friends is that it will inevitably limit your power. The friend is rarely the one who is most able to help you; and in the end, skill and competence are far more important than friendly feelings. All working situations require a kind of distance between people. You are trying to work, not make friends; friendliness only obscures that fact. The key to real power and collaboration is the ability to judge who is best able to further your interests in all situations. Keep friends for friendship but work with the skilled and competent.

Your enemies, on the other hand, are an untapped gold mine that you must learn to exploit. A person who has something to prove will move mountains for you. You destroy an enemy when you make a friend of him. Make it a pol icy of working with those who disagreed with you. But do not forget, without enemies around us, we grow lazy; an enemy at our heels sharpens our wits, keeping us focused and alert. It is sometimes better, then, to use enemies as enemies rather than transforming them into friends or allies. Without a worthy opponent, a man or group cannot grow stronger.

Such a strategy of constant conflict has several key components. First, be certain that in the long run you will emerge victorious. Never pick a fight with someone you are not sure you can defeat. Second, if you have no apparent enemies, you must sometimes set up a convenient target, even turning a friend into an enemy. Third, use such enemies to define your cause more clearly to the public, even framing it as a struggle of good against evil. A sharply defined enemy is a far stronger argument for your side than all the words you could possibly put together.

Never let the presence of enemies upset or distress you-you are far better off with a declared opponent or two than not knowing where your real enemies lie. The man of power welcomes conflict, using enemies to enhance his reputation as a surefooted fighter who can be relied upon in times of uncertainty.

EXCEPTION TO THE RULE

Although it is generally best not to mix work with friendship, there are times when a friend can be used to greater effect than an enemy. There are occasions, for example, where dirty work has to be done, but for the sake of appearances it would be preferable to have other people do it for you; friends often do this the best, since their affection for you makes them willing to take chances. Also, if your plans go awry for some reason, you can use a friend as a convenient scapegoat. Of course, after you play that card, you have lost your friend forever. It is best, then, to reserve the scapegoat role for someone who is close to you but not too close.

Finally, the problem about working with friends is that it confuses the boundaries and distances that working requires. But if both partners in the arrangement understand the dangers involved, a friend often can be employed to great effect. You must never let your guard down in such a venture, however; always be on the lookout for any signs of emotional disturbance such as envy and ingratitude. Nothing is stable in the realm of power, and even the closest of friends can be transformed into the worst of enemies.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

NEVER PUT TOO MUCH TRUST IN FRIENDS, LEARN HOW TO USE ENEMIES

30 Tuesday Jan 2024

Posted by in Empowerment

≈ Leave a comment

Tags

Be wary of friends, they will betray you more quickly than your enemies, for they are easily aroused to envy. They also become spoiled and tyrannical. But hire a former enemy and he will be more loyal than a friend, because he has more to prove.  In fact, you have more to fear from friends than from enemies. If you have no enemies, find a way to make them.

WORK WITH YOUR ENEMIES

It is natural to want to employ your friends when you find yourself in times of need. The world is a harsh place, and your friends soften the harshness. Besides, you know them. Why depend on a stranger when you have a friend at hand?

The problem is that you often do not know your friends as well as you imagine. Friends often agree on things in order to avoid an argument. They cover up their unpleasant qualities so as to not offend each other. They laugh extra hard at each other’s jokes. Since honesty rarely strengthens friendship, you may never know how a friend truly feels. Friends will say that they love your poetry, adore your music, envy your taste in clothe, maybe they mean it, often they do not.

When you decide to hire a friend, you gradually discover the qualities he or she has kept hidden. Strangely enough, it is your act of kindness that unbalances everything. People want to feel they deserve their good for­ tune. The receipt of a favor can become oppressive: It means you have been chosen because you are a friend, not necessarily because you are de­ serving. There is almost a touch of condescension in the act of hiring friends that secretly afflicts them. The injury will come out slowly: A little more honesty, flashes of resentment and envy here and there, and before you know it your friendship fades. The more favors and gifts you supply to revive the friendship, the less gratitude you receive.

The problem with using or hiring friends is that it will inevitably limit your power. The friend is rarely the one who is most able to help you; and in the end, skill and competence are far more important than friendly feelings. All working situations require a kind of distance between people. You are trying to work, not make friends; friendliness only obscures that fact. The key to real power and collaboration is the ability to judge who is best able to further your interests in all situations. Keep friends for friendship but work with the skilled and competent.

Your enemies, on the other hand, are an untapped gold mine that you must learn to exploit. A person who has something to prove will move mountains for you. You destroy an enemy when you make a friend of him. Make it a pol icy of working with those who disagreed with you. But do not forget, without enemies around us, we grow lazy; an enemy at our heels sharpens our wits, keeping us focused and alert. It is sometimes better, then, to use enemies as enemies rather than transforming them into friends or allies. Without a worthy opponent, a man or group cannot grow stronger.

Such a strategy of constant conflict has several key components. First, be certain that in the long run you will emerge victorious. Never pick a fight with someone you are not sure you can defeat. Second, if you have no apparent enemies, you must sometimes set up a convenient target, even turning a friend into an enemy. Third, use such enemies to define your cause more clearly to the public, even framing it as a struggle of good against evil. A sharply defined enemy is a far stronger argument for your side than all the words you could possibly put together.

Never let the presence of enemies upset or distress you-you are far better off with a declared opponent or two than not knowing where your real enemies lie. The man of power welcomes conflict, using enemies to enhance his reputation as a surefooted fighter who can be relied upon in times of uncertainty.

EXCEPTION TO THE RULE

Although it is generally best not to mix work with friendship, there are times when a friend can be used to greater effect than an enemy. There are occasions, for example, where dirty work has to be done, but for the sake of appearances it would be preferable to have other people do it for you; friends often do this the best, since their affection for you makes them willing to take chances. Also, if your plans go awry for some reason, you can use a friend as a convenient scapegoat. Of course, after you play that card, you have lost your friend forever. It is best, then, to reserve the scapegoat role for someone who is close to you but not too close.

Finally, the problem about working with friends is that it confuses the boundaries and distances that working requires. But if both partners in the arrangement understand the dangers involved, a friend often can be employed to great effect. You must never let your guard down in such a venture, however; always be on the lookout for any signs of emotional disturbance such as envy and ingratitude. Nothing is stable in the realm of power, and even the closest of friends can be transformed into the worst of enemies.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

NEVER OUTSHINE THE MASTER

29 Monday Jan 2024

Posted by in Empowerment

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“Always make those above you feel comfortably superior. In your desire to please and impress them, do not go too far in displaying your talents or you might accomplish the opposite: inspire fear and insecurity. Make your masters appear more brilliant than they are, and you will attain the heights of power.“

OBSERVANCE OF THE LAW

All masters want to appear more brilliant than other people. They do not care about science or empirical truth or the latest invention; they care about their name and their glory. Instead of insecurity you must give them glory. You shall not challenge their intellectual authority.

KEYS TO POWER

Everyone has insecurities. When you show yourself in the world and display your talents, you naturally stir up all kinds of resentment, envy, and other manifestations of insecurity. This is to be expected. You cannot spend your life worrying about the petty feelings of others. With those above you, however, you must take a different approach: When it comes to power, outshining the master is perhaps the worst mistake of all.

Those who attain high standing in life are like kings and queens: They want to feel secure in their positions, and superior to those around them in intelligence, wit, and charm. It is a deadly but common misperception to believe that by displaying and vaunting your gifts and talents, you are winning the master’s affection. He may feign appreciation, but at his first opportunity he will replace you with someone less intelligent, less attractive, less threatening. He will not admit the truth but will find an excuse to rid himself of your presence. This Law involves two rules that you must realize. First, you can inadvertently outshine a master simply by being yourself. There are masters who are more insecure than others, monstrously insecure; you may naturally outshine them by your charm and grace. The lesson is simple: If you cannot help being charming and superior, you must learn to avoid such monsters of vanity. Either that or find a way to mute your good qualities when in the company of such a person. Second, never imagine that because the master loves you, you can do anything you want. Remember the following: Never take your position for granted and never let any favors you receive go to your head.

Knowing the dangers of outshining your master, you can tum this Law to your advantage. First you must flatter and puff up your master. Overt flattery can be effective but has its limits; it is too direct and obvious and looks bad to other courtiers. Discreet flattery is much more powerful. If you are more intelligent than your master, for example, seem the opposite: Make him appear more intelligent than you. Act naive. Make it seem that you need his expertise. Commit harmless mistakes that will not hurt you in the long run but will give you the chance to ask for his help. Masters adore such requests. A master who cannot bestow on you the gifts of his experience may direct rancor and ill will at you instead.

If your ideas are more creative than your master’s, ascribe them to him, in as public a manner as possible. Make it clear that your advice is merely an echo of his advice.

If you surpass your master in wit, it is okay to play the role of the court jester, but do not make him appear cold and surly by comparison. Tone down your humor if necessary and find ways to make him seem the dispenser of amusement and good cheer. If you are naturally more sociable and generous than your master, be careful not to be the cloud that blocks his radiance from others. He must appear as the sun around which every­ one revolves, radiating power and brilliance, the center of attention. If you are thrust into the position of entertaining him, a display of your limited means may win you his sympathy. Any attempt to impress him with your grace and generosity can prove fatal.

In all of these cases it is not a weakness to disguise your strengths if in the end they lead to power. By letting others outshine you, you remain in control, instead of being a victim of their insecurity. This will all come in handy the day you decide to rise above your inferior status. If you can make your master shine even more in the eyes of others, then you are a godsend and you will be instantly promoted.

Avoid outshining the master. All superiority is odious, but the superiority of a subject over his prince is not only stupid, it is fatal.

REVERSAL

You cannot worry about upsetting every person you come across, but you must be selectively cruel. If your superior is a falling star, there is nothing to fear from outshining him. Do not be merciful; your master had no such scruples in his own cold-blooded climb to the top. Gauge his strength. If he is weak, discreetly hasten his downfall: Outdo, outcharm, outsmart him at key moments. If he is very weak and ready to fall, let nature take its course. Do not risk outshining a feeble superior, it might appear cruel or spiteful. But if your master is firm in his position, yet you know yourself to be the more capable, bide your time and be patient. It is the natural course of things that power eventually fades and weakens. Your master will fall someday, and if you play it right, you will outlive and someday outshine him.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

NEVER OUTSHINE THE MASTER

29 Monday Jan 2024

Posted by in Empowerment

≈ Leave a comment

Tags

, , , ,

“Always make those above you feel comfortably superior. In your desire to please and impress them, do not go too far in displaying your talents or you might accomplish the opposite: inspire fear and insecurity. Make your masters appear more brilliant than they are, and you will attain the heights of power.”

OBSERVANCE OF THE LAW

All masters want to appear more brilliant than other people. They do not care about science or empirical truth or the latest invention; they care about their name and their glory. Instead of insecurity you must give them glory. You shall not challenge their intellectual authority.

KEYS TO POWER

Everyone has insecurities. When you show yourself in the world and display your talents, you naturally stir up all kinds of resentment, envy, and other manifestations of insecurity. This is to be expected. You cannot spend your life worrying about the petty feelings of others. With those above you, however, you must take a different approach: When it comes to power, outshining the master is perhaps the worst mistake of all.

Those who attain high standing in life are like kings and queens: They want to feel secure in their positions, and superior to those around them in intelligence, wit, and charm. It is a deadly but common misperception to believe that by displaying and vaunting your gifts and talents, you are winning the master’s affection. He may feign appreciation, but at his first opportunity he will replace you with someone less intelligent, less attractive, less threatening. He will not admit the truth but will find an excuse to rid himself of your presence. This Law involves two rules that you must realize. First, you can inadvertently outshine a master simply by being yourself. There are masters who are more insecure than others, monstrously insecure; you may naturally outshine them by your charm and grace. The lesson is simple: If you cannot help being charming and superior, you must learn to avoid such monsters of vanity. Either that or find a way to mute your good qualities when in the company of such a person. Second, never imagine that because the master loves you, you can do anything you want. Remember the following: Never take your position for granted and never let any favors you receive go to your head.

Knowing the dangers of outshining your master, you can tum this Law to your advantage. First you must flatter and puff up your master. Overt flattery can be effective but has its limits; it is too direct and obvious and looks bad to other courtiers. Discreet flattery is much more powerful. If you are more intelligent than your master, for example, seem the opposite: Make him appear more intelligent than you. Act naive. Make it seem that you need his expertise. Commit harmless mistakes that will not hurt you in the long run but will give you the chance to ask for his help. Masters adore such requests. A master who cannot bestow on you the gifts of his experience may direct rancor and ill will at you instead.

If your ideas are more creative than your master’s, ascribe them to him, in as public a manner as possible. Make it clear that your advice is merely an echo of his advice.

If you surpass your master in wit, it is okay to play the role of the court jester, but do not make him appear cold and surly by comparison. Tone down your humor if necessary and find ways to make him seem the dispenser of amusement and good cheer. If you are naturally more sociable and generous than your master, be careful not to be the cloud that blocks his radiance from others. He must appear as the sun around which every­ one revolves, radiating power and brilliance, the center of attention. If you are thrust into the position of entertaining him, a display of your limited means may win you his sympathy. Any attempt to impress him with your grace and generosity can prove fatal.

In all of these cases it is not a weakness to disguise your strengths if in the end they lead to power. By letting others outshine you, you remain in control, instead of being a victim of their insecurity. This will all come in handy the day you decide to rise above your inferior status. If you can make your master shine even more in the eyes of others, then you are a godsend and you will be instantly promoted.

Avoid outshining the master. All superiority is odious, but the superiority of a subject over his prince is not only stupid, it is fatal.

REVERSAL

You cannot worry about upsetting every person you come across, but you must be selectively cruel. If your superior is a falling star, there is nothing to fear from outshining him. Do not be merciful; your master had no such scruples in his own cold-blooded climb to the top. Gauge his strength. If he is weak, discreetly hasten his downfall: Outdo, outcharm, outsmart him at key moments. If he is very weak and ready to fall, let nature take its course. Do not risk outshining a feeble superior, it might appear cruel or spiteful. But if your master is firm in his position, yet you know yourself to be the more capable, bide your time and be patient. It is the natural course of things that power eventually fades and weakens. Your master will fall someday, and if you play it right, you will outlive and someday outshine him.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

BITGET REVIEW 2024

27 Saturday Jan 2024

Posted by in Cryptocurrencies Exchange

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Founded in 2018, Bitget is a leading cryptocurrency exchange with various trading products, including copy trading, margin trading, and commission-free spot trading.

You cannot deposit Canadian dollars (CAD) directly, but you can deposit crypto for free, use a third-party bank transfer service or pay with a credit or debit card. Basically, you can but crypto via Canadian crypto exchange and then transfer it to Bitget.

Bitget is a reputable global crypto exchange available in most countries excluding the US, UK, Canada, and sanctioned countries. Bitget is a global exchange catering to skilled users and offers a vast selection of altcoins for Canadian crypto traders. Notably, Bitget stands out with its competitive trading fees of just 0.1%, which can be further reduced by paying with their token BGB.

While deposits in cryptocurrency are free, purchasing crypto with CAD requires a debit card or a third-party bank transfer service like Banxa. For this reason, using Bitget’s P2P marketplace is recommended where you can buy USDT in Canada with Interac e-transfer commission free and use it for trading crypto on the platform.

Compared to Bitbuy, it offers over 1000 cryptocurrency coins, so it is the perfect choice for people who like to invest in altcoins. While its platform is certainly not for beginners, once you get used to the advanced interface, Bitget offers so much that you will probably never look at another exchange again.

Pros: 

  • Good for Canadians looking to buy and trade altcoins
  • Extremely Low trading fees
  • DEX/P2P trading
  • Advanced order types
  • Margin trading
  • Futures trading
  • Stock token trading
  • 1000+ coins
  • Simple or advanced interface

Cons: 

  • Not beginner-friendly
  • No FINTRAC registration in Canada
  • Not available in Alberta

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

You Need a Fresh start! How to Embrace New Beginnings at Any Age

19 Friday Jan 2024

Posted by in Starting Over

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January is nearly over, which probably means your New Year’s resolutions are forgotten, or will be soon. Do you need to reset? Are you looking for a big change? Are you looking for a fresh start? We can help! ~ J. Michael Dennis

Having to considering a career change, a business reorganization can feel daunting. It is enough to send you into an existential crisis. But you need to remember that you are never starting from scratch. That is true for career shifts and massive changes to your personal life and even your business venture.

You have been through a lot in your lifetime. You can lean on your years of experience for self-reinvention. And you do not have to seek out a fresh beginning all on your own. It is never too late for new beginnings and here, at JMD Live Online Consulting, we want to help you get started.

Here are our tips on how to start over

With some planning and self-awareness, you absolutely can make significant changes in your life. There is no limit to how much you can grow, learn, and become a better person, start a business or to grow and improve your business performance. Any decade of your life provides an opportunity for self-improvement and growth.

Starting over, rebooting, or reengineering your life will look different, depending on your individual situation. Are you embarking on a new career path, starting a new business, or moving to a new continent? Finding your purpose in life, rebranding yourself or your business is not always easy, and there is no one-size-fits-all approach to starting over.

Here are some general guidelines to consider

You might not have expected to be here, where you are and now. That means you are probably experiencing some unexpected loss. This could be the loss of a loved one, a relationship, or expectancies your plans for the future. Any type of grief is normal, so give yourself the time to feel it. Stop thoughts from swirling in your head by putting them on a page, whether you use a computer or your favorite leather-bound notebook. Through writing, you can gain self-knowledge and a valuable means to process your thoughts.

Avoid falling fall into an endless loop of negative thoughts. Take deep breaths. Give yourself a much-needed moment of reprieve. Do something. Anything! Inertia only sets in when you are feeling down. The smallest activities can boost your mood. Staying active and busy will give you the energy you need to plan for the future.

Remember, you are not alone

Your social health is important to your well-being, and having good friends to support this transition is vital. If you do not already have a trustworthy circle, find new friends through volunteering or attending events in your community. When embarking on a new chapter of your life, take the time to nurture your social connections and maintain a support network. Do not let work take over.

Exercise

Do not forget to keep exercising or start a workout routine. Weightlifting, walking, or other low-impact activities boost your energy and keep your mood up. Taking care of your physical well-being is vital to your overall health.

Get rid of the useless

You have probably accumulated loads of stuff over the years. Get the weight of possessions off your shoulders by getting rid of any items no longer in use. Stay away from the toxic people in your life. Clear your mind of all your negative thoughts and stop all procrastination. Make room for what is to come.

Review your finances

Your financial wellness matters, and you cannot reach a new destination without a road map. Be honest about your financial situation. While reengineering your life or your business, you may need to dive into your finances. Consider taking the following steps:

  • Create a living expenses budget;
  • Factor in how a big change will affect your retirement plan;
  • Read the fine print on your insurance policies, and see how your new situation will affect your healthcare;
  • Set financial goals to save more money.

Plan your final destination and new future

The most important step of your transition is doing some life and/or business planning to better understand your new future. Think about where you are and where you would like to be. Identify the necessary steps to build yourself a better life. Developing healthy habits, like managing new job anxiety with more exercise or finding time to hang out with your family and unwind in your free time, will help you stay on your planned course.

Next, identify your passions, strengths, and weaknesses and how they might fit in a new career or version of yourself. Befriend people doing what you want to do and look for job or business opportunities that match your skills and desired lifestyle.

If you are in your 50s, 60s or even older, forget your age. Age is just a number. You are never too old for a new start. Let go of the fear and anxiety about where you should be and start building the life you want to live. Bask in the challenges ahead because this is what makes life thrilling.

These tips are a lot to chew on. It is okay to ask for help. Seeing yourself through others’ eyes will help you develop greater self-awareness to find the answers you are looking for and take action to meet your goals.

And do not forget, we are here to help.

“I Have No Money”

Much of the above advice still applies if you have little or no money.

The downside is that you might have less time to lose before springing into action. Here are some additional tips if you are in a financially difficult situation and cannot make a quick switch.

If you are still working, keep your job.

If you are not working, find yourself a job, any job!

A paying job that you hate will still give you financial stability. This is what is more important right now. Focus on creating an emergency fund and rainy-day savings while you plot your next move.

Let go of the negative self-talk. If you are without a job, it is tempting to compare yourself to other people your age. Let go of the negative self-talk. Comparison will only lead to a cognitive bias that harms your well-being. Things might be difficult right now, but you still have something few people experience: the chance to reinvent yourself. You have nothing to be ashamed of.

Find your purpose and passion. Reengineer yourself. Think back on the things that felt most meaningful to you. An important step in figuring out how to turn your life around is imagining the person you want to be. Figuring how can you work these things into the next phase of your life and, how can you do that at the lowest cost possible.

Create yourself a “Vision Board” that will help you stay focused on your goals. Make sure all your goal-setting points toward the ultimate one: doing what you love; ending where you want to be.

A Final Word

Maybe are you experiencing a midlife crisis that is putting you in a tailspin, so you want a fresh start. Maybe difficult circumstances put you in this position and you have no other choice. Either way, there are some advantages and disadvantages to seeking out a new beginning.

Seeking out a new beginning allows you to make better choices for your emotional and mental health. You can regain a sense of control over your destiny using your life experiences to your advantage.

On the other hand, especially if you are in a difficult financial situation, seeking out a new beginning may be extremely difficult.

You may have to work harder to keep yourself financially stable and you are running the risk to fall into a poor mental and physical health state. Your stress levels might be elevated due to the change, which can lead to heart disease, high blood pressure, depression, and more.

Whatever your situation or the circumstances, before initiating a starting over, ask yourself:

  • What do I really need to be happy?
  • What is it that I really do not like doing?
  • What is it that I really do not like in my actual situation?
  • What makes me feel free?
  • What are my strengths?
  • What am I passionate about?
  • Am I willing to commit to a new life?
  • How do I imagine my life in a few years?

Answering these questions will clarify your next steps. Knowing what you are passionate about and what industries align with your personal values will help you decide where you should be going or slowly kill yourself doing nothing to change your life.Starting over is an incredibly daunting phase of your life. It is easy to lose faith in yourself when everything is uncertain.

You know what you want! You are no longer comfortable being mediocre! Own your past and create your future.

You need help! Ask for it; most people want to see you succeed, even if it does not always feel like it. There is no shame in asking for help.

Above everything else, remember: “It is never too late to start over.” Besides, no one really starts over; you are forging yourself a new path from where you are today, a path that will allow you, your business to thrive.

Embrace change!

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

BITGET REVIEW 2024

17 Wednesday Jan 2024

Posted by in Canadian Crypto Exchanges

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Founded in 2018, Bitget is a leading cryptocurrency exchange with various trading products, including copy trading, margin trading, and commission-free spot trading.

You cannot deposit Canadian dollars (CAD) directly, but you can deposit crypto for free, use a third-party bank transfer service or pay with a credit or debit card. Basically, you can but crypto via Canadian crypto exchange and then transfer it to Bitget.

Bitget is a reputable global crypto exchange available in most countries excluding the US, UK, Canada, and sanctioned countries. Bitget is a global exchange catering to skilled users and offers a vast selection of altcoins for Canadian crypto traders. Notably, Bitget stands out with its competitive trading fees of just 0.1%, which can be further reduced by paying with their token BGB.

While deposits in cryptocurrency are free, purchasing crypto with CAD requires a debit card or a third-party bank transfer service like Banxa. For this reason, using Bitget’s P2P marketplace is recommended where you can buy USDT in Canada with Interac e-transfer commission free and use it for trading crypto on the platform.

Compared to Bitbuy, it offers over 1000 cryptocurrency coins, so it is the perfect choice for people who like to invest in altcoins. While its platform is certainly not for beginners, once you get used to the advanced interface, Bitget offers so much that you will probably never look at another exchange again.

Pros: 

  • Good for Canadians looking to buy and trade altcoins
  • Extremely Low trading fees
  • DEX/P2P trading
  • Advanced order types
  • Margin trading
  • Futures trading
  • Stock token trading
  • 1000+ coins
  • Simple or advanced interface

Cons: 

  • Not beginner-friendly
  • No FINTRAC registration in Canada
  • Not available in Alberta

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

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Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Cryptoassets Trading Risk Overview

17 Wednesday Jan 2024

Posted by in Cryptocurrencies Trading

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Cryptoassets vary in their characteristics and risks. Before buying, ensure you understand the specific risks. Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

General risks common to all crypto assets

What are the risks associated with Cryptoassets generally?

  • Volatility and Liquidity Risks: Cryptoassets are known for their high volatility which refers to rapid and significant price fluctuations that may be experienced over short periods of time. Cryptoassets markets are often driven by speculation and sentiment leading to rapid price movements based on market perceptions, positive or negative, based on news and rumours. It is essential to consider your individual risk tolerance and investment goals before engaging with Cryptoassets. During periods of high volatility, you may be unable to buy or sell any Cryptoassets.
  • Nascent Technology: Blockchain technology remains in its early stages and the underlying technology continues to evolve. Technical issues, security breaches, and vulnerabilities of the underlying protocol can trigger price fluctuations. It is unclear whether the economic value or functional elements of Cryptoassets will persist over time. Additionally, the Cryptoassets ecosystem is rapidly developing in a competitive market, demand for any Cryptoassets may decrease with the entrance of a competitor or simply the inability to establish long-term value.
  • Hacks: Exploitable vulnerabilities are often discovered in the source code of Cryptoassets, resulting in various issues such as impaired functionality, compromised user information, and theft of Cryptoassets. Additionally, the cryptographic foundations of any Cryptoassets may prove to be flawed or inadequate over time.
  • Concentration Risks: Depending on the consensus mechanism used by a particular blockchain, If an individual or entity acquires control of more than 51% of the computing power (hash rate) utilised by a blockchain network, they would possess the ability to exploit this majority control to engage in double spending of their Cryptoassets. This is known as a “51% attack”, and, if successful, it would severely undermine confidence in public blockchain networks such as Bitcoin or Ethereum or any impacted blockchain network. Consequently, the value of the Cryptoassets impacted would likely experience a significant decline.
  • Stablecoins: Stablecoins are coins are designed to maintain a fixed value relative to the denominated fiat currency. There is no assurance that a stablecoin is able to maintain its value fixed to any denominated currency in moments of extreme volatility.
  • Internet and Electronic Trading Risks: Utilising an internet-based trade execution software application entails certain risks, including but not limited to potential hardware and software failures. For instance, in the event of an internet connection or equipment failure, you may encounter difficulties such as being unable to place an order, experiencing order execution deviations from your instructions, or the non-execution of your order altogether. Consequently, this may result in financial losses if the market for a specific Cryptoassets experiences a sudden drop.
  • User Error: Once a Cryptoassets transaction has been executed to its respective network, or if the user sends their Cryptoassets to an incorrect wallet or network, there is no possibility to reverse the transaction. In the unfortunate event of fraudulent or accidental transactions, any resulting losses are not recoverable.
  • Cyber Security: Cryptoassets platforms have faced cyberattacks and encountered technical problems that led to the loss or theft of Cryptoassets belonging to their users. Consequently, a similarly targeted cyberattack could potentially result in the theft or loss of your fiat currency or Cryptoassets. In such circumstances, it might be challenging or even impossible to recover the lost funds or assets.
  • Regulatory Risks: Legislative and regulatory changes or actions at the national or international level may adversely affect the use, transfer, exchange, and value of crypto assets.
  • No Investor Protection: On some exchange platforms, Cryptoassets do not benefit from the protection provided by the Financial Ombudsman Service (FOS), or the Financial Services Compensation Scheme (FSCS) if something goes wrong. You should be aware and prepared to potentially lose some of all of your money.

Stablecoins

What are they?

A stablecoin is a cryptocurrency whose value is pegged to that of an underlying fiat currency, such as the Pound Sterling, US Dollar, or Euro.

What are the risks associated with Stablecoins?

  • Counterparty Risk: These assets are backed by collateral (e.g., fiat currency), and relying on a third party to maintain the collateral introduces risk. This risk emerges if the party faces insolvency or fails to maintain the required collateral.
  • Redemption Risk: When an asset claims redeemability for underlying collateral, there is a risk that the redemption process will not unfold as expected. This risk is particularly evident during periods of market volatility or operational challenges.
  • Collateral Risk: The stability of the asset is subject to the risk that the value of the collateral, which may be another type(s) of asset or Cryptoassets(s), may decline or become volatile.
  • FX Risk: Many Stablecoins are denominated in US dollars, exposing you to fluctuations in the exchange rate between USD and other fiat currencies.
  • Algorithm Risk: If the asset relies on an algorithm to maintain stability (e.g., by adjusting supply based on demand), there is a risk that the algorithm will fail or behave unexpectedly. This scenario could cause the asset to lose its stability and even its entire value.

Meme Coins

Meme coins, derive value from community interest and online trends, often without any intrinsic value or utility.

What are the risks associated with Meme coins?

  • Volatility Risk: Meme coins are prone to substantial and unpredictable price changes, often experiencing rapid fluctuations. Social media trends and celebrity endorsements can significantly influence their value, diverging from traditional investment fundamentals.
  • Lack of Utility: Meme coins can sometimes lack intrinsic value or utility, relying more on community interest, online trends, and speculative trading to determine their worth.
  • Market Manipulation: Meme coins face an elevated risk of market manipulation, including “pump-and-dump” schemes, where prices are artificially inflated before a sudden crash.
  • Lack of Transparency: Information about meme coins, such as details about development teams, goals, and financials, is often limited. This lack of transparency poses challenges in evaluating the credibility and potential of a meme coin accurately.
  • Emotional Investing: Meme coins often evoke intense emotional reactions from investors, leading to impulsive decisions. This emotional trading activity has the potential to magnify losses in the market.

Defi tokens

Decentralised Finance (DeFi) tokens, such as UNI and AAVE, are linked to financial applications and protocols on decentralised blockchains.

What are the risks associated with Defi tokens?

  • Smart Contract Risk: DeFi’s reliance on smart contracts exposes it to risks. Even a minor coding error or oversight could lead to the exploitation of a contract, potentially resulting in significant losses for DeFi tokens.
  • Regulatory Risk: Operating in a decentralised manner, DeFi often lacks intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations, affecting the use, value, or legality of certain DeFi protocols or assets.
  • Rug-Pulls/Exit Scams: Some DeFi projects, initiated by anonymous or pseudonymous teams, heighten the risk of “rug pulls.” In such cases, developers abandon the project, withdrawing funds and leaving investors with worthless tokens.
  • Data/Oracle Risk: DeFi protocols often rely on external data sources or “oracles”. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols.
  • Protocol Complexity: The intricate nature of some DeFi protocols can pose challenges for average users to fully comprehend the mechanisms and associated risks.
  • Lack of Liquidity: Certain coins within DeFi exhibit very low liquidity, meaning slight changes in supply and demand can result in sharp price movements.

Cryptoassets Risk Summary

Cryptoassets also referred to as cryptocurrency, are a digital representation of value that function as a medium of exchange, a unit of account, or a store of value. Cryptoassets are not legal tender, are not backed by the government or a central bank and generally have no underlying assets, revenue stream, or other sources of value tied to fiat currency or other assets.

Their value is derived from market dynamics and has historically been more volatile relative to fiat currency and other assets. The unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time.

The value of Cryptoassets may be derived from the continued willingness of market participants to exchange fiat currency for cryptocurrency, which may result in the potential for permanent and total loss of value of a particular cryptocurrency should the market for that cryptocurrency disappear. In certain cases, it may be difficult or impossible to liquidate a position quickly at a reasonable price due to various market factors, including illiquidity or actions by trading facilities.

Legislative and regulatory changes or actions at the national or international level may adversely affect the use, transfer, exchange, and value of cryptocurrencies. Several federal agencies have also published advisory documents surrounding the risks of virtual currency.

Some Cryptoassets transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction. Cryptoassets ownership is often determined by a decentralised public ledger that associates an amount of cryptocurrency with a unique address defined by a public cryptographic key.

A private cryptographic key is required to transfer cryptocurrency from one address to another. Anyone with access to the private key associated with the address can transfer the associated cryptocurrency. Cryptoassets transfers generally cannot be cancelled or reversed and the identity of the holder of the private key associated with any address can be difficult, if not impossible, to ascertain.

The nature of Cryptoassets may lead to an increased risk of fraud or cyber-attack. If you are using cryptocurrencies to purchase goods or services, most exchange platforms have no visibility into the sellers and cannot control delivery, quality, safety, or legality. Losses due to fraudulent or accidental transactions may not be recoverable.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

BTCC Exchange Review2024

16 Tuesday Jan 2024

Posted by in Canadian Crypto Exchanges

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BTCC is a registered exchange in the US, Canada, and Europe. Through the ups and downs of numerous market cycles, BTCC has supplied safe trading services with cutting-edge technology for the past 11 years.

The crypto industry is rapidly expanding as more individuals begin to spend their money and discover all the benefits it offers. Not only are new investors streaming in, but that existing investors are also looking for new methods to better their investment strategy.

Futures have become one of the most popular and effective tools at the disposal of crypto traders when it comes to techniques. The temptation of crypto futures is too powerful to ignore because they allow you to obtain more exposure to your favorite assets.

If you are wanting to learn about BTCC, chances are that you are interested in trading bitcoin futures. If this is the case, let us tell you all about BTCC, what it has to offer, and whether it is a good fit for you.

Purpose investments launched the world’s first Bitcoin ETF in February 2021.

Like purchasing popular commodity ETFs on the Toronto Stock Exchange (TSX) to gain exposure to the underlying commodity, e.g. Gold, the Purpose Bitcoin ETF provides exposure to actual Bitcoin.

Packaging cryptocurrency in an Exchange-Traded Fund makes it easier for retail investors to hold digital currency without worrying about losing their private keys or getting hacked.

It also means you do not need to open an account at a cryptocurrency exchange since the ETFs are available through your existing brokerage account.

Since the Purpose Bitcoin ETF (BTCC) was launched, many other crypto ETFs have been listed on the TSX.

In 2022, BTCC launched tokenized futures, an innovative product invented by the exchange, on its platform, allowing users to trade stocks and commodities futures with USDT as the margin.

Purpose Investments Cryptocurrency Portfolios

Purpose Investments was established in 2012. It offers several investment products utilizing alternative strategies and asset classes.

Two of its most popular funds are:

  • Purpose Bitcoin ETF (BTCC), and
  • Purpose Ether ETF (ETHH)

What is BTCC?

BTCC provides investors with an easy way to invest in Bitcoin by purchasing a publicly traded ETF. The fund carries a “high” risk rating and is unsuitable for all investors. This is because the price of the underlying bitcoin asset is volatile, with significant intraday increases or decreases in price.

BTCC is traded on the TSX under three different tickers: BTCC, BTCC.B, and BTCC.U. BTCC is purchased with Canadian dollars and is hedged against USD exposure. BTCC.B is also purchased using Canadian dollars; however, it does not hedge against USD fluctuations. BTCC.U is denominated in US dollars.

BTCC ETF Holdings

BTCC is 100% invested in “physically settled” Bitcoin. This means the ETF holds no other assets outside of bitcoin cryptocurrency. If your investment portfolio is 100% made up of BTCC, you are 100% invested in bitcoin, and your portfolio could experience significant declines if the asset falls in price.

BTCC’s bitcoin holdings are held in cold storage, keeping them safe and away from potential hacking attempts.

Pros and Cons of BTCC

Best For

  • Daily, weekly, and perpetual futures
  • Traders seeking leverage opportunities
  • Users that value reputation and a strong track record
  • New retail investors that prefer a straightforward and simple user interface

Pros

  • Easy to purchase and gain exposure to bitcoin, even if you are a newbie to cryptocurrency.
  • Sold on regulated brokerage platforms with access to the Canadian Investor Protection Fund (CIPF) protection if the brokerage becomes insolvent.
  • Can hold in registered investment accounts and keep gains tax-free.
  • The fund holds bitcoin assets in cold storage, removing the need to purchase your own hardware wallet.
  • Good liquidity makes it easy to sell your holdings when you want to. Largest variety of futures: Daily, Weekly, Quarterly and Perpetual futures

Cons

  • Volatile, risky asset and not for risk-averse investors.
  • Bitcoin in cold storage is still not 100% secured.
  • High management fees.
  • BTCC alone is not diversified and should be held as part of a wider portfolio.
  • Advanced functionalities limited to supported cryptocurrencies
  • More centralized than other competing platforms

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Coinsquare Review 2024

15 Monday Jan 2024

Posted by in Canadian Crypto Exchanges

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Coinsquare is a popular cryptocurrency exchange in Canada founded in 2014, offering trading in Bitcoin, Ethereum, and several other coins such as Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Dogecoin (DOGE), Stellar Lumens (XLM), DASH, Bitcoin SV (BSV) and Ethereum Classic (ETC). Its headquarters is based in Toronto.

The platform offers more than just trading opportunities for everyday folks. It also has an Over The Counter (OTC) desk for large volume cryptocurrency trades ($25,000+) and dedicated account management via Coinsquare Wealth.

Pros and Cons of Coinsquare

Pros:

  • Has a good selection of coins including forks like Bitcoin SV and Ethereum Classic.
  • Quick verification for new accounts.
  • Industry average processing times for deposits.
  • User-friendly platforms for both newbies and pros.
  • Referral program.

Cons:

  • Accommodates only CAD fiat deposits.
  • Support is available from 9am-5pm EST Monday to Sunday (not 24/7).
  • Was penalized by regulatory authorities for fraudulent activity in 2020.
  • Not a member of IIROC or CIPF.

Coinsquare is a registered Money Service Business in Canada and it is required to comply with the regulatory framework put in place by FINTRAC (Financial Transactions and Reports and Analysis Centre of Canada).

Coinsquare has a referral program that pays you up to 45% commission on their fees. Your referral (friend) receives $10 in BTC when they fund their account with at least $100.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Personal & Corporate Fixer

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.