Transactional leadership, also known as managerial leadership, focuses on supervision, organization, and performance; transactional leadership is a style of leadership in which leaders promote compliance by followers through both rewards and punishments. Unlike transformational leaders, those using the transactional approach are not looking to change the future, they look to keep things the same. Leaders using transactional leadership as a model pay attention to followers’ work in order to find faults and deviations.
This type of leadership is effective in crisis and emergency situations, as well as for projects that need to be carried out in a specific way.
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Bitcoin is a cryptocurrency and worldwide payment system; it is the first decentralized digital currency, as the system works without a central repository or single administrator. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
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Bitcoin Cash (BCH) is a hard fork of the cryptocurrency bitcoin. The fork occurred on August 1, 2017.
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Leader is both a research area and a practical skill encompassing the ability of an individual or organization to “lead” or guide other individuals, teams, or entire organizations. The literature debates various viewpoints: contrasting Eastern and Western approaches to leadership, and also (within the West) US vs. European approaches. US academic environments define leadership as “a process of social influence in which a person can enlist the aid and support of others in the accomplishment of a common task”. Leadership seen from a European and non-academic perspective encompasses a view of a leader who can be moved not only by communitarian goals but also by the search for personal power. Leadership can derive from a combination of several factors, as the European researcher Daniele Trevisani highlights:
“Leadership is a holistic spectrum that can arise from: (1) higher levels of physical power, need to display power and control others, force superiority, ability to generate fear, or group-member’s need for a powerful group protector (Primal Leadership), (2) superior mental energies, superior motivational forces, perceivable in communication and behaviors, lack of fear, courage, determination (Psychoenergetic Leadership), (3) higher abilities in managing the overall picture (Macro-Leadership), (4) higher abilities in specialized tasks (Micro-Leadership), (5) higher ability in managing the execution of a task (Project Leadership), and (6) higher level of values, wisdom, and spirituality (Spiritual Leadership), where any Leader derives its Leadership Style from a unique mix of one or more of the former factors”.
Studies of leadership have produced theories involving traits, situational interaction, function, behavior, power, vision and values, charisma, and intelligence, among others.
LocalBitcoins is a bitcoin startup company based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins. Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins. Other users reply to these advertisements and agree to meet the person to buy bitcoins with cash or pay with online banking. LocalBitcoins has a reputation and feedback mechanism for users and an escrow and conflict-resolution service. As of December 2013, LocalBitcoins has around 110,000 active traders with a trade volume of 1400–3000 bitcoins per day.
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The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Whilst the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.
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A leadership style is a leader’s style of providing direction, implementing plans, and motivating people. Various authors have proposed identifying many different leadership styles as exhibited by leaders in the political, business or other fields. Studies on leadership style are conducted in the military field, expressing an approach that stresses a holistic view of leadership, including how a leader’s physical presence determines how others perceive that leader. The factors of physical presence in this context include military bearing, physical fitness, confidence, and resilience. The leader’s intellectual capacity helps to conceptualize solutions and to acquire knowledge to do the job. A leader’s conceptual abilities apply agility, judgment, innovation, interpersonal tact, and domain knowledge. Domain knowledge encompasses tactical and technical knowledge as well as cultural and geopolitical awareness. Daniel Goleman (2000) in his article “Leadership that Gets Results” talks about six styles of leadership.
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The legal position of bitcoin varies greatly from country to country and continues to be undefined or changing in most of them. Whilst nearly all countries do not make the consumption of bitcoin itself outlawed, its position as money (or a product) varies, with differing regulatory implications. Although some countries have explicitly allowed its use and trade, others have prohibited or limited it. In the same way, various government companies, departments, and courts have categorized bitcoins in different ways. While this content supplies the legal position of bitcoin, legislation and bans that connect with this cryptocurrency likely extend to similar systems as well.
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Servant leadership is a leadership philosophy. Traditional leadership generally involves the exercise of power by one at the “top of the pyramid.” By comparison, the servant-leader shares power, puts the needs of others first and helps people develop and perform as highly as possible. Servant leadership turns the power pyramid upside down; instead of the people working to serve the leader, the leader exists to serve the people. When leaders shift their mindset and serve first, they unlock purpose and ingenuity in those around them, resulting in higher performance and engaged, fulfilled employees.
Beware: FOMO Ends a Lot of Online Careers Before they Start
Fear of missing out (FOMO) is the main reason aspiring online marketers buy 43 different online programs on how to start a business. They are continuously afraid they’re going to miss out on something great.
But because they have this fear, they are forever chasing the next, latest great thing.
To be successful in anything, you need focus more than anything else.
Do one or two things really, really well and you can make a fortune.
Do 100 things in a mediocre fashion and you’ll forever be broke.
So if you’ve started an online business, give it 100% and do everything you can to grow successful with it for at least 6 months. If after that period of time, you haven’t been able to succeed, honestly re-evaluate your situation and decide whether it was the business the failed, or your ability to do what was necessary to succeed.
In this case, by giving it your all and staying focused, you will at a minimum have gained many new skills and wisdom that you can apply to your next endeavor. Also, you will have identified true strengths and weaknesses in business models and yourself that you can apply to your next venture, if you need one at all.
There are many turn-key online businesses that are very reliable, and do work if you will maintain the focus and effort required to turn that business into a success for yourself. If you are driven by FOMO, you will be forever pulled into half-starts and unfulfilled dreams.
Keep this in mind, and do everything you can to succeed in the business that you are already in, before turning your attention toward anything else. Far to many would-be successful entrepreneurs quit and start something else, when if they just stuck with it, they would have been able to succeed in this business that they were already building.
