Bitcoin Forum

Local => Nigeria (Naija) => Topic started by: bestcandy on June 05, 2024, 11:23:06 PM



Title: Challenge of Bitcoin as the only source of income
Post by: bestcandy on June 05, 2024, 11:23:06 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Ishicryptic on June 06, 2024, 06:14:54 AM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Cityhunter34 on June 06, 2024, 06:58:16 AM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
Yes you are very correct because if you use Bitcoin as your source of income without having another source of income it will makes you not hold your Bitcoin for a long term, because normally Bitcoin investment is always good when you have another source of income that we be giving you money every day so that Incase of if you have a emergency you would be able to manage and solved your problem without touching your investment.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: teamsherry on June 06, 2024, 08:36:01 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Bitcoin is not a business and I don't see how you can take Bitcoin as a career unless you are into trading Bitcoin which is not also a stable source of income, if you are referring to investing in bitcoin, then the best approach is a long term approach which is to accumulate bitcoin for a long term and allow the value of your sats to compound over time and yield you profits, there are also means that a long term investor can live off Bitcoin by applying raking strategies or monthly withdrawal strategies, you can check it out in JayJuanGee thread in the economy speculation section.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Marvelockg on June 06, 2024, 08:51:46 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income.
this is total bullshit. Bitcoin is not a business and never a career. Regardless of the benefit that comes with being a Bitcoin enthusiast, you don't use that as a justification to assume that you can be a full time bitcoinner for a living. Bitcoin is just a digital financial asset that solves and help reduce the limitation of the Fiat in a manner that it allows the owners to have full conteol of thier funds. If you're talking about trading of Bitcoin for a living then that can be seen as a possible source of income for those that are experienced enough about it.
but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
you must know that you don't owe anyone a single explanation on what you choose to do for a living or how you want to do your work. As long as what you're doing is legit and doesn't involve fraude or violation of others privacy and right, then it shouldn't be a thing of concern what they think about it.

It's not everyone that has to go to work in the morning and come back by night. It's not even about always going to work everyday that makes you a productive individual. If by the requirements of your work you're required to work from home, would you want to dress up in the morning and go outside because you want to impress anybody? I doubt that's the case. If you run broke trying to do what is generally appealing to the public, they will be the same people that will mock you to scorn in the process.

Hustle legitimately and don't give a thing about people have to say about that. People would always talk and you can't do a thing about that. Just be you and do your shit the way it suits you well.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Abbatty on June 06, 2024, 10:38:59 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose.

To think bitcoin is a business or a source of income is wrong. You can make money from bitcoin when you hold it or trade it but it should never be relied on as a source of income because the money is not guaranteed, it is volatile and as such anything can happen so you lose when the price drops and gain when the falls. How do you intend to feed during the bear season? Bitcoin was never invented for that purpos,  it was created to serve as an alternative currency for fiat and to give people financial freedom and relief people from the problems of banks, so earning from it is just an extra benefit that comes with it.

so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

People can question themselves all they want, you don’t owe anyone an explanation and since they don’t feed you i don’t see how that should be a problem because it’s non of their business.

A lot of people work from home so you don’t necessarily have to step out to work because we dem get plenty people wey de work online through their phone and devices now and dem de make reasonable money for themselves like content creators, YouTubers and so on. The world don advance now and there will be a lot of changes in our way of life now.

If i find myself in such situations i won’t worry myself and if anyone has a problem with my of life they should confront me. 


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Adbitco on June 06, 2024, 11:16:58 AM
This is very simple at first you don't need to living a  luxurious life or a kind of life style that is too showy to people around you couples with always pressing your phone/laptop on public this gives them the impression that you are doing something illegal to gain money and for that suspicion comes in immediately.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Ever-young on June 06, 2024, 01:11:24 PM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
Yes you are very correct because if you use Bitcoin as your source of income without having another source of income it will makes you not hold your Bitcoin for a long term, because normally Bitcoin investment is always good when you have another source of income that we be giving you money every day so that Incase of if you have a emergency you would be able to manage and solved your problem without touching your investment.

I totally agree with you, if we only hope in Bitcoin, we find it to make it through it, that is we find it hard to save or hold Bitcoin as you said.

And we find it hard to survive in terms of emergency, because Bitcoin do fluctuates and at times, we might be having network downtime and we might not be able to get access to it and won't be able to solve our problems then, but having another source of income is very good, so that if one is not doing well or not benefitting at that time, the other one will be benefitting, and it will help and makes it easier for us to save and also save us from going bankrupt, unlike depending or relying on one.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Cryptomultiplier on June 06, 2024, 02:22:13 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
I have faced same situation you just painted and I can say that the best solution is to travel or rather become a tourist by choice, because people will not stop at just asking, they will also mug you or beat you and steal from you inorder to know exactly how you earn to stay alive and well despite the hard financial demands we are facing in the country.
The worst is if you don't have a physical job they can timeline or timetag based on your appearance on the street on in public places.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Promocodeudo on June 06, 2024, 05:38:53 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Personally if I am been found in this kind of situation, I will have to look for a way to diversify my investment, may be doing a physical business that will enable me to be going out from the house everyday will solve this biased mindset of many people towards me, I wanted to say that we should be making use of the smartphone or laptop for our Bitcoin activities where people will not see us but the truth is that the environment we find ourselves is full of negativity, there is nothing we can convice them with if we continue staying indoors all the time, they will definitely think that we are into some kind of fraudulent activities thats why i said it is better for us to make use of the profit we made as a bitcoiner to invest in a phsical business that will make us to leave the house on a daily basis may be with this approach people will desist from their unconfirmed suspicion about our source of income.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Fiasem20 on June 06, 2024, 05:51:34 PM
Bitcoin no fit be person only source of income in essence,if you wan invest you gat get other source of income to accumulate continually and to take get fund wey oyibo dey call emergency fund incase of any emergency mata e no go make you wan tamper from your holdings,and even if na trading e no dey sure say you dey cashout huge profits everyday because of the volatility,nai make experienced traders dey say trading no be income wey person go rely on because of the volatility and losses.
The internet dey wide to make money,so anybody wey wan think say I'm into illegal online business na ehn business.Pipo wey get the understanding say de internet na place where we fit make money no go dey think otherwise, although we get de legal and illegal means of making money online but most Nigerians dey classify all online means of earning as Yahoo,and most the dangerous thing to do as a bitcoiner na to go tell people say your into Bitcoin just to clear their doubt,e beta make you dey anonymous like Satoshi Nakamoto because you no know who be who.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Asiska02 on June 06, 2024, 07:04:55 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

There’s nothing much to do in this case because the nature of environment we find ourselves determines the type of impression that people will have on us when they see you exhibiting such characteristics in the society. You don’t need to explain to people what your source of income is because you’re not accountable to them and they are not entitled to be disclosed to. Once you know that your source of income is not illegal and you won’t have any issue with security agencies when they come to interrogate, I don’t think there’s cause for alarm on what other people think about you and where you source for money for your expenses. Bitcoin has become so wide and used by many people around the world, so for a government that is enlightened to it, they know that you’re doing anything illegal and shouldn’t be probed for your source of income.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Stable090 on June 06, 2024, 07:56:46 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose.
Why do you even have to make bitcoin your only source of income? You might be a trader or an investor, but at least you should have other sources of income from which you can make money. You shouldn’t depend completely on bitcoin alone because anything can happen at any time. I know some people who are unemployed and who depend fully on trading for survival, but I don’t really like the idea.

so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
I don’t care about what people say or think about me as long as I am not doing anything illegal. And I stay in a estate, so nobody cares about what you are doing for survival, everyone is always staying indoors and are always minding their business. I know that in some places, if you are a youth and you are always indoors, they will start thinking you are doing some illegal things, but if your hands are clean, then you shouldn’t panic.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: rachael9385 on June 07, 2024, 11:08:08 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
Yes Oga we know say e no dey good to tell pipo say you dey invest or trade crypto but the other things be say Bitcoin is not the only thing someone should see as his or her only source of income. Although it's fine to make Bitcoin your source of income but the really matter be say no be only 1 source of income wey person suppose to get, as you get crypto assets you suppose to get other ones too in case of anything. We get many people wey dey do only crypto jobs like marchant for exchanges and believe me say most of them don't have anyone other job. Although they might not see anything bad there but the truth is that it's not good for one to have only 1 job as a source of income. This our country no be the type wey person suppose keep crypto assets or business as em only method to make money.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: adultcrypto on June 08, 2024, 12:51:45 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
It is advisable that you keep your activities in bitcoin private in a country like ours where the government is not too friendly with bitcoin. Look at the recent ban of exchanges, the sanctions on OPay and other banks that operate wallet accounts and other harsh actions taken by our government against cryptocurrency in general, that should tell you it is absolutely necessary to be discrete about bitcoin related information. Apart from this, consider your safety and security when it becomes a common knowledge that you have some bitcoin in your possession. This is not a situation to be in so the best is to remain secret and leave your neighbors to guess and assume anything they are comfortable with. So long as you are convinced that you are not doing anything illegal, there will be no need to care about the impression they have about you. What make you even think that if you tell them that you are a bitcoin investor or trader that they will believe you?


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Agbamoni on June 08, 2024, 08:16:49 AM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
You almost said it all. Let me add to what you have said so far. Bitcoin is not a source of income whether you are into trading or investment. It requires capital to start running and the only way you can get your capital is by having a source of income which is outside of Bitcoin. It could be a work or business. Having the idea of making Bitcoin a source of income is totally wrong. With time our investment might yield good profit and if it is trading, we may profit in trading, yet we shouldn't think of tapping into our profit for taking care of our needs and paying bills. The money should be used to do other business and make more investment it could not be in Bitcoin or anymore we may diversify by going into rea estate and agriculture.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: sotelorene on June 08, 2024, 07:38:44 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?  


You are right to an extent Bitcoin is very good mostly especially when you invest for long term cause definitely you will get something great from it but making Bitcoin a source of income depends though there are people who is actually doing it (they are always online 247) and they have a special room where they stay to avoid distraction. These people are expert though they make loss but their loss Is/are always minimal compare to there profit and they always start with huge amount of money though some start with little amount and what they do mostly is trading, they don't do investment that much, so if you are not this good to the extent that your loss will be small compared to your profit then it is not advisable to take it as a source of income and lastly It is not necessary or compulsory to prove to someone or people that you are into Bitcoin investment or cryptocurrency they should believe whatever they want to, as long as they don't have evidence of what they are saying and you are not doing what they think or feel you are doing, so to me I think they are wasting their time.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Antotena on June 12, 2024, 07:04:04 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

I will not tell anyone my source of income is bitcoin for security reasons. The world knows about Bitcoin and everyone knows how valuable it's, saying that to people might only invoke more insecurity around you, it can come from your friends and even immediate family members, we have seen cousin stealing from each other, it's not a wise decision to ever tell anyone you earn Bitcoin or have Bitcoin.

If you live alone, I don't think you need to make explanation to anyone and what you do but if you do leave in a place where people are inquisitive and want to know what you do, simply tells them you do gigs and write content online, that's your means of making money, an educated person understands what it's to work for someone online or better still tells them you a trader but don't go into details about it unless they are your guardian but you don't have to spill everything to them.

By the way, I don't think someone who buy and hold Bitcoin for time will be living an expensive lifestyle that will brings such questions, you must have hold into some coins after a while before you can make money here, I'm not if such will create unnecessary questions unless you must have invested in Bitcoin since 2009 or make some lambo money from meme coins that can make you rock under a week.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Richbased on June 12, 2024, 08:11:15 PM
I created a similar topic like this some time ago Can we proudly tell people that we're Bitcoiners? (https://bitcointalk.org/index.php?topic=5481364.0), you can check the link to see the opinion of people there. Then in my own opinion, bitcoin is not new anymore as the awareness is every where so inasmuch as you have access to an internet enabled device or phone there is no way you won't come across something relating to Bitcoin on the internet however, it is not necessary to persuade anyone about what you are into but if you also wish to tell people so that they won't raise suspicion that you are into fraud or internet scams you can still let others know but you need to be mindful of the kind of people you relate such information with so that you don't jeopardize your own security.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Juicyhome on June 12, 2024, 09:34:09 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?  
we're living in an Internet era, people do a lot of works from the house, the awareness is high, everyone knw, you don't have to go out daily for people to see that you're hard working person,  you can work smart from home and have a good living. Investing in Bitcoin is a good step but having it as your only source of income is wrong or Investing all your money in Crypto is a wrong idea. Instead use your gain from Bitcoin to invest in other business like real estate,  this will help you to make more money.

Regarding to what people will think, for the fact you're doing a legitimate business, whether indoor or outdoor, never be distracted of what people will say, because people will always talk.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Merit.s on June 13, 2024, 08:47:32 AM
It is easy, whoever ask you how do you get funds since you are not leaving the house. Tell them that you work from home and you are into online marketing, I believe that will clear every doubt. One thing that you must know is that bitcoin cannot be the only source of income, because it is not a get rich quick scheme and bitcoin will not give you profit if you don't buy and hodli for long. So you need a means of income either business or a job to take care of your needs. Even people that are in signature campaigns here in the forum cannot say that they have a job because they are paid weekly. The reason is that it is not all the time you will be in a signature campaign due to the company pausi g or stopping the campaign, how will those people cope. You see in life you need to have a source where you get paid weekly or monthly regularly. It is when you have accumulated enough Bitcoin in a long time that you might start depending on your bitcoin investment.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: laijsica on June 13, 2024, 11:58:41 AM
In recent times many people are engaged in various online based professions to diversify their source of income. Freelancing, Graphics Design and other online careers. If you don't want to promote anything related to Bitcoin, then call it an online based profession. Basically you have to be strategic in the way of life which changes with time. If you live a good life, many may object and annoy you, but you must be firm in your ways. But you must have a source of alternative income so that people get a positive impression of your identity.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Ever-young on June 15, 2024, 09:13:01 PM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
Yes you are very correct because if you use Bitcoin as your source of income without having another source of income it will makes you not hold your Bitcoin for a long term, because normally Bitcoin investment is always good when you have another source of income that we be giving you money every day so that Incase of if you have a emergency you would be able to manage and solved your problem without touching your investment.

That's true, as it will really affect our investment because we will find it hard to invest for the future purpose.

So the only way to make this work and actualized our dreams it's just by having or doing another work or job that will be giving us money on a daily basis in case of emergency like you said, if we have another source of income, we will be able to save for long term as we want and it will save us the stress of exchanging the coin into fiat for our own consumable. So we should try doing another or have another side hustle to help us from unwanted embarrassment, disgrace etc.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: liasbaa on June 15, 2024, 11:44:13 PM
You can choose Bitcoin as a medium of investment/deposit which can expect high returns for the future. Bitcoin should not be your only source of income. It is important to have multiple sources of income and keep it diversified if you want to live well. If you only work from home you may face various health problems so you should focus more on alternative income besides accumulating Bitcoins to handle family financial stress.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Zigabel on June 16, 2024, 10:47:06 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
I don't know how well you are going to explain to people who are not into cryptocurrency to understand that its very possible to live a live as such without actually having to go out daily for a job or a business and still be comfortable to a great extent and that is why it will be good to be conservative with your life style generally and not to start portraying a very extravagant life when you know your source of income is such that needs too many explanation and not everyone is even acquainted with it in this country. honestly even as a bitcoiner, if i ask you what you do to earn an income that affords you such a large life style and you say to me its bitcoin, I'm going to have some atoms of doubts except you add some specifics such as saying you a bitcoin trader then i will be sure you are actually making the most of bitcoin but even an investor in bitcoin may not tell me all they do is invest in bitcoin and they do no there thing yet they are living so large at every moment, not especially as i understand the dynamics of investing in bitcoin.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: goldkingcoiner on June 16, 2024, 03:56:36 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Bitcoin is a good idea but having only a single source of income is a bad idea.

If you want security, make sure you have multiple sources of income, so that if a single source fails for any reason, then you will still have the other sources.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Sonia_123 on June 29, 2024, 09:03:51 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
It has been said severally not to rely on Bitcoin as your only means of livelihood, you have to engage yourself in another business in other for you to be on safe side in case of any problem while investing, it also serve as a backup funds for you. Having another source of income gives you an edge over financial challenges, but Incase you don't have money to set up business, you can start with whatever your little income you get from campaign signature after becoming a full member  . Sitting down at home always and making your money from Bitcoin is not always adviceable be you can be mistaken for yahoo yahoo or any other criminal act ,no matter little your business could be, you can still do your Bitcoin from your shop/office.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Barikui1 on June 30, 2024, 11:33:03 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

First of all not having any other sources of income is really not good for your holdings, because you will have to fall back to your holdings for survival which is not a good idea, as long as you really want to have a good stash of Bitcoin in possession and you are actually thinking long term, not doing anything will make you eat up your investment bit by bit till it runs out.

Secondly, talking about you staying home all day and be doing nothing, bro, we all know the society we find ourselves, especially in Nigeria,  once you are at home doing nothing, and you are living a good live, spending extravagantly, you will definitely be seen as a yahoo boy, so in a situation like the one you pointed out, I would advice that you do all your crypto job or anything you are doing online that pays your bills, you do it in the comfort of your home,  though I would advice you let one or two people that are close to you know what you does for a living, so that in case of tomorrow, they might be able to speak on your behalf, and even in your absence, but as for the constant pressing of phone, I suggest you do it mostly indoor, so that you won't be seen as a fraudster.

Lastly, control the way you spend money, especially in the presence of those your neighbors, let them not start thinking you are into fraud.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Roseline492 on June 30, 2024, 01:34:46 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income
 
Well the truth is that I no that we all love Bitcoin investment because we believe that in the future it could give us another good story line but that doesn't mean that we should see it as the only source of income because is not actually meant to be so, if perhaps that is your motive I will strongly advised you change that narrative because the only way you will enjoy your Bitcoin investment is if you have other means of sustaining yourself while your Bitcoin investment is running, actually don't get me wrong because the reason why I'm saying this is that if for instance you see your Bitcoin investment as the only source of your income is obvious you will be tampering with it whenever you have any serious need but in other words if you have other means you will see that you be able to hold without having any difficulties.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Olatundespo on June 30, 2024, 04:52:14 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income
 
Well the truth is that I no that we all love Bitcoin investment because we believe that in the future it could give us another good story line but that doesn't mean that we should see it as the only source of income because is not actually meant to be so, if perhaps that is your motive I will strongly advised you change that narrative because the only way you will enjoy your Bitcoin investment is if you have other means of sustaining yourself while your Bitcoin investment is running, actually don't get me wrong because the reason why I'm saying this is that if for instance you see your Bitcoin investment as the only source of your income is obvious you will be tampering with it whenever you have any serious need but in other words if you have other means you will see that you be able to hold without having any difficulties.
Most of the investors can start depositing their bitcoin in their thick funds at the end of the month after daily expenses for their family. But they may forget that they may need urgent need in the future, such as need for emergency treatment or losing jobs or other factors. For these reasons he may need a lot of cash. The decision to invest the entire money in disposable money without having to arrange cash in your hand may prove wrong at that time. Because they may not have any option for without withdrawing their valuable resource Bitcoin at an urgent need. So it is better to keep partial cash without investing your entire money every month so that you can spend the family of the family for 3-6 months. According to this plan, if your investment can be sorted to the future, you will reach your goals which increases the size of Bitcoin holding.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Zanab247 on June 30, 2024, 05:37:48 PM
Since you know where your source of income is coming from, you don't need to worry about what people are going to say about your source of income because you don't know who is after your life or wealth which you need to keep the secret to yourself.

 If you don't want to be staying at home for people to think you are not working, you can look for a job that will be allowing you to have time for your BTC business, and it will make people in your environment to conclude the source of your income. I don't care what people will going to say about my source of income, because nothing will make me to tell people in my environment the source of my income because all eyes will be on me in the environment, and It can make me not to walk freely like the way I used to work freely in the environment, because I  have exposed my source of income to people.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: AYOBA on June 30, 2024, 07:57:12 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose.
There are many people's that are classified a Bitcoin as their way of success of income, and there are some that don't take it so, but what some people's do is take the money that they earn in this Bitcoin they take it into another way that will generate them money. Because this world is like a ball, it can turn you at any moment since we only know today, but we don't know tomorrow. That's all about this world, which is why some people don't take Bitcoin as their permanent source of income. Actually, not everyone we can tell our way of generating money, but there are some people we've to tell them to avoid them thinking negatively.
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so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
Normally, it happens in some environments that if nobody knows what you're doing, they will be thinking badly about you, especially those that are in this forum. We know that there are some that they didn't have other work to do, like handwork. Even though they're into Bitcoin, not all people's will know accept the people he shares his conversation with. But you see those that didn't have any hands work apart from the Bitcoin; there are people's that some will be thinking negatively about them with the way they spend money in the environment.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Mate2237 on June 30, 2024, 08:20:38 PM
There are sometimes even you don't tell them they will still know unless you don't have people around your. Those who are close you probably you have told them and those people will also tell another person and from there news fly and spread. And naim make the information wey you never tell people naim be the secret you have and once you tell one person then e no be secret again. No trust anyone.

Bitcoin nis not a forbidden thing or digital currency in the country just dat di government want to collect tax from it but dem never know how to do am so nai make dem dey do all dis obnoxious law to ban di digital currency from some online Banking and dat one na di commercial banks dey do am because boys w no dey use main banks again. Telling people what you do if it is not illegal then it is not bad. Telling people that you are into buying and selling of bitcoin. It is not bad idea and it might bring customers to you as well.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Egii Nna on June 30, 2024, 09:03:40 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Even you as a person will not enjoy only depending on bitcoin investment because when something happens, like a loss, you will find it hard to endure because that is only what you depend on, but that is not what we are to answer. Let's go to the question: as a man in Nigeria who is not going anywhere and is living a comfortable life in such a community, definitely he must be tagged with these two different negative thoughts: either they will say he is a yahoo boy or a ritualist. So to avoid all this, you gave up having a physical business. even though you will have no customers to patronise, just to avoid being a suspect in society. 

But to me, I will like to open a boutique where I will be selling shoes or caps, so if I stay there, people will definitely think that that is my source of income. But if you wish to stay without work, then definitely you will always go to the police station to settle different cases, even if you are innocent. 


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Marykeller on June 30, 2024, 10:25:45 PM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
Snubbed them, be vigilant, or have a change of environment to a secure and quiet place where everyone minds their business without poking nosing into other people's business. Our life and business security is what we all should be very mindful of without being struck by the unexpected.

Having said that, if you can't afford a place that is quiet or private. Some precautions need to be taken, such as not moving out late at night, not having your bitcoin stored in the phone or laptop that you go out with, having a separate gadget for it(not to move with it or telling anyone that your bitcoin stored on soso gadget).

These days one needs to be wise with their fellow beings. Not to easily open up their bitcoin worth or financial worth to their friends just because they thought their friends couldn't harm them or have them betrayed. Not knowing that it's close friends that kills first than enemies


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Juicyhome on July 01, 2024, 10:15:27 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?  

Even you as a person will not enjoy only depending on bitcoin investment because when something happens, like a loss, you will find it hard to endure because that is only what you depend on, but that is not what we are to answer. Let's go to the question: as a man in Nigeria who is not going anywhere and is living a comfortable life in such a community, definitely he must be tagged with these two different negative thoughts: either they will say he is a yahoo boy or a ritualist. So to avoid all this, you gave up having a physical business. even though you will have no customers to patronise, just to avoid being a suspect in society.

But to me, I will like to open a boutique where I will be selling shoes or caps, so if I stay there, people will definitely think that that is my source of income. But if you wish to stay without work, then definitely you will always go to the police station to settle different cases, even if you are innocent.
@Mata2237 this is low self esteem, because of what people will say you then use your money to open business you have no ideas for just to justify your innocence for people that don't put food on your table,  that's rubbish,  it's all about how you keep your self, if your a bitcoin miner or a trader, you have to be consistent in it, never mind what people will say, but you have to avoid to dress like yahoo boys or doing indigent act that will attract the police to you. If you are driving,  have all your papers complete dress proper and focus on your trade. Society pressure, should never make you go into business you don't want to do just to please them. My dear bitcoin is a recognised coin in the world, and this is what is putting food on people's table.  So don't be shame of it.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Bryan jessy on July 02, 2024, 07:16:21 AM
Bitcoin is a source of income yes very true, but I do not think people should have it as the only source of income, because there are other things to engage in to get more incomes. Of course your neighbors are going to be suspicious of you always staying indoor and living a good life, like financially stable. It is advisable to have other investments apart from Bitcoin, yes you can still invest on Bitcoin and have either a business working for you or any other investment you prefer to engage yourself in.

Few years back when I had no idea about Bitcoin existence I have always been suspicious of some of our neighbors they were mostly guys, this guys does not go out they run their generator 247  it never goes off, and should in case it does they always refill it immediately it goes off and starts running it again, they lived a financially stable life without stress. I kept wondering what their source of income was and people around started suspecting that they are into Yahoo business, why because they had no other physical business they do.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Derekfunds on July 02, 2024, 08:13:24 AM
Bitcoin is a source of income yes very true, but I do not think people should have it as the only source of income, because there are other things to engage in to get more incomes. Of course your neighbors are going to be suspicious of you always staying indoor and living a good life, like financially stable. It is advisable to have other investments apart from Bitcoin, yes you can still invest on Bitcoin and have either a business working for you or any other investment you prefer to engage yourself in.

Few years back when I had no idea about Bitcoin existence I have always been suspicious of some of our neighbors they were mostly guys, this guys does not go out they run their generator 247  it never goes off, and should in case it does they always refill it immediately it goes off and starts running it again, they lived a financially stable life without stress. I kept wondering what their source of income was and people around started suspecting that they are into Yahoo business, why because they had no other physical business they do.

You absolutely correct Bitcoin investment is very nice and cool but that doesn't mean one should dive into Bitcoin Totally and forfeit other investment that can fetch one reasonable amount of money everyday, every week or every month as the case maybe perhaps it is very good to diversify our investment cause you don't know the one that will be more profitable by merely looking at it.

However, I believe most of the people we say they have money such as Dangote etc. He has different kind of investment cause he believed that some of his investment has the period and season they usually do well I mean bring profit heavily that is why they diversify and that is what ambitious people do. There's this saying that one shouldn't put all his eggs or orange in one basket the reason is that if your basket of eggs should tear definitely all the eggs will fall on the ground and break that is why it's not advisable for one to put all hope in one investment.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Gozie51 on July 02, 2024, 09:54:25 AM

So, my question is, what are you going to do if you find yourself in this kind of situation? 

First, my brother if you say bitcoin na source of income then na how you mean? Except na trade you dey trade am then you dey make profit. Like as bitcoin price reach $73k and drop to $60k, that one na $13k difference in profit already but na how you want even take know say e want drop when the current expectations self na say e suppose begin rise more. That is even the challenge with trading. And to talk say na to hodl bitcoin na im be the source of income, omo that one no be true because na just like side pay wey persin fit get from time to time.

So to answer the question about wetin neighborhood go dey think if you dey make money while staying at home. That one no concern anybody and if you no comfortable with am then you fit dey go out from time to time or you open small business wey go also dey carry you go out.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: liasbaa on July 02, 2024, 11:23:57 AM
Bitcoin is a source of income yes very true, but I do not think people should have it as the only source of income, because there are other things to engage in to get more incomes. Of course your neighbors are going to be suspicious of you always staying indoor and living a good life, like financially stable. It is advisable to have other investments apart from Bitcoin, yes you can still invest on Bitcoin and have either a business working for you or any other investment you prefer to engage yourself in.

You are correct. Bitcoin should not initially be considered as the only source of income which raises questions among neighbors. You should keep sources of income that are consistent with your normal behavior, such as alternative employment such as business, part-time jobs, or other occupations that are of a one of a kind identity. As well as the highest tendency to deposit your bitcoins which should be funded from your alternative income. Bitcoin allows you to make huge profits but you have to go through investments which are an alternative source of income for you. However you need to have an alternative income because its value may go down and you may suffer. Overall you should opt for holding Bitcoin as long term holdings allow you to make huge gains.

You absolutely correct Bitcoin investment is very nice and cool but that doesn't mean one should dive into Bitcoin Totally and forfeit other investment that can fetch one reasonable amount of money everyday, every week or every month as the case maybe perhaps it is very good to diversify our investment cause you don't know the one that will be more profitable by merely looking at it.

You should continue depositing for at least some more time which is 2 years or more to make the investment of Bitcoin profitable. Attitude is to initially build your portfolio to a decent level and then take advantage of the opportunity to sell at higher prices as you wish. Bitcoin allows you to expand your horizons but you should ensure its proper use which is a long term holding.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Adams0001 on July 02, 2024, 03:10:00 PM
This is very simple at first you don't need to living a  luxurious life or a kind of life style that is too showy to people around you couples with always pressing your phone/laptop on public this gives them the impression that you are doing something illegal to gain money and for that suspicion comes in immediately.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.

You are completely correct, because some people enjoy focusing on other people's lives, and if you are not doing any business to support your bitcoin investments, people will begin to suspect that you are engaging in illegal activities online, and they will tarnish your reputation as a scammer who defrauds people and makes money. That is why anyone investing in cryptocurrency should have another source of income to secure their investment and prevent people from accusing them of fraud online, as they are conducting a tangible business that everyone is aware of. And everyone who sees him abandoning his lavish life would believe it is a business that is bringing him a large sum of money, expect he will tell them that he is creating more bitcoin. That is why it is important to have other sources of income rather than relying solely on bitcoin. When you make a profit, attempt to start another business so that you are not burdened by people's issues.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Reincarnated Sat on July 02, 2024, 05:06:34 PM
One can't have Bitcoin as his or her only source of income,
Bitcoin is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. If you don't have a source of income like a job you can't invest or hold Bitcoin.
And you talk about using Bitcoin as your only source of income shows that you really don't understand the concept of Bitcoin and I will advise you as a follow newbie to read and learn before posting in this forum.
The only way you can have Bitcoin as your only source of income like you have said is when you have accumulated or have made enough money from Bitcoin even if you are a Bitcoin trader you need to know that cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades.

Bitcoin is not a Ponzi scheme is an investment platform that takes time to bring forth profit and I will advise you again to please go through post in this forum so you can understand the concept of Bitcoin very well.





Title: Re: Challenge of Bitcoin as the only source of income
Post by: AmaGold70 on July 02, 2024, 08:29:46 PM

So, my question is, what are you going to do if you find yourself in this kind of situation? 
You don't owe anyone an explanation of how you earn your income, but if you must do that, start by your lifestyle because your lifestyle says a lot about you, don't live an extravagant lifestyle. I know that one of the difference between a legitimate online worker (Bitcoin investor/worker) and an illegitimate online worker (internet fraudster) is their lifestyle, a legitimate online worker works hard to earn money and wouldn't want to spend it carelessly but an internet fraudster spends excessively so you should be able to know where you belong and talking about Bitcoin as a career or an only source of income is not going to work out well for you or anyone, if you really want to make profit you have to engage yourself in other things to earn money.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Uhochi on July 04, 2024, 09:16:24 AM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
Just like you said, it's not advisable to have Bitcoin as your only source of income, especially as a starter. It's best to invest in Bitcoin and allow it to grow over time.

When you have an edge in Bitcoin trading and investing, you can then choose to make it a full-time business.

And as for being indoors, people will never stop talking. If you go out often, they'll say, 'Na so so waka wake dey waka, who no watin e dey always go find outside,'.

 You should be more focused on learning about Bitcoin, getting a grasp of it, and doubling your investment wisely. The rest shouldn't bother you.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Justbillywitt on July 04, 2024, 09:35:46 AM
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
You are speaking from the angle of a long time hodler, but you also have to consider the fact that not all bitcoiner are into investing and hodling for long. There are day traders who makes money from bitcoin on daily or weekly basis. Forget it bro there are advanced traders that makes good money from bitcoin trading weekly/monthly, so don't be surprised with what the op is talking about. There are traders who makes millions of Naira if bitcoin makes just 0.5% to 1% upward movement. All investors don't use one strategy, there are those that believe in day trading and there are those that believe in long term hold. So it's just for you to stick to the one that works for you. Moreover there are other altcoins too that investors makes money from and not just bitcoin alone. If you buy bitcoin and Hodl for long that's fine but what about the altcoins? Do you also buy and Hodl them for long? the answer is no, you sell your altcoins and take your profit whenever you see it. It's not only bitcoin that's in the market.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Cryptomultiplier on July 04, 2024, 01:45:17 PM
This is very simple at first you don't need to living a  luxurious life or a kind of life style that is too showy to people around you couples with always pressing your phone/laptop on public this gives them the impression that you are doing something illegal to gain money and for that suspicion comes in immediately.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.

You are completely correct, because some people enjoy focusing on other people's lives, and if you are not doing any business to support your bitcoin investments, people will begin to suspect that you are engaging in illegal activities online, and they will tarnish your reputation as a scammer who defrauds people and makes money. That is why anyone investing in cryptocurrency should have another source of income to secure their investment and prevent people from accusing them of fraud online, as they are conducting a tangible business that everyone is aware of. And everyone who sees him abandoning his lavish life would believe it is a business that is bringing him a large sum of money, expect he will tell them that he is creating more bitcoin. That is why it is important to have other sources of income rather than relying solely on bitcoin. When you make a profit, attempt to start another business so that you are not burdened by people's issues.
It's common wisdom to have other sources of income that's more physical in some way and or other businesses to attend to that would make a Bitcoin investor that's always indoor, go outside more as if they are going to meet up with an appointment somewhere.
One other thing is that a Bitcoin investor or trader who earns majorly from Bitcoin or cryptocurrency investment, should endeavor to dress and conduct their business in very distinctively and distinguished manner from a yahoo yahoo person, so as not to be put in same bracket as an online scammer as be an object of public attention.



Title: Re: Challenge of Bitcoin as the only source of income
Post by: Commorant on July 04, 2024, 02:33:02 PM
so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 
it depends on the type of apartment you leave in; if you're staying in a single room apartment, that will certainly give your neighbors a reason to look into your personal life... Otherwise, what right does anyone have to ask you questions or raise suspicions? If you don't want to be under people's radar, out of the big profit you make, secure a comfortable apartment and make yourself comfortable.

Secondly, create other pathways for wealth and resources; remember the rules in creating wealth? "Never you put all your eggs in one basket". Get into some real life business or something; someone can be working for you and that means more wealth.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Btcdeybodi on July 05, 2024, 05:17:36 AM
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

First of all not having any other sources of income is really not good for your holdings, because you will have to fall back to your holdings for survival which is not a good idea, as long as you really want to have a good stash of Bitcoin in possession and you are actually thinking long term, not doing anything will make you eat up your investment bit by bit till it runs out.

Secondly, talking about you staying home all day and be doing nothing, bro, we all know the society we find ourselves, especially in Nigeria,  once you are at home doing nothing, and you are living a good live, spending extravagantly, you will definitely be seen as a yahoo boy, so in a situation like the one you pointed out, I would advice that you do all your crypto job or anything you are doing online that pays your bills, you do it in the comfort of your home,  though I would advice you let one or two people that are close to you know what you does for a living, so that in case of tomorrow, they might be able to speak on your behalf, and even in your absence, but as for the constant pressing of phone, I suggest you do it mostly indoor, so that you won't be seen as a fraudster.

Lastly, control the way you spend money, especially in the presence of those your neighbors, let them not start thinking you are into fraud.

People can still be investing in Bitcoin and still own real life businesses that will also fetch them money for survival and not solely depend on Bitcoin investments alone and when we consider the kind of environment we find ourselves, it is good to also have physical businesses or job even if you're a core bitcoiner because in the country we live, people that sees you doing well without any physical businesses will think you are into fraud but when you engage in some other physical jobs to make ends meet they won't look bad eyes on you.

So far as you are doing genuine works online there is no need to be afraid of anyone suspecting you to be a fraudster but the area I frown at is spending money lavishly because in the environment we live in, if you live so much larvish lifestyle people will start questioning the source of your wealth especially if you are a young person. You can live a low key life while you own a lot of investments. I'm not saying that living a luxurious life is bad but it should be controlled and it's not everything you go public like flaunting your luxury life on social media because those are the medium through which others will be raising suspicion against you if you show off all the time.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: Su-asa on July 06, 2024, 09:06:30 PM
The sooner you know that Bitcoin is not the only crypto currency in the market the easiest you know that Bitcoin is not the only meas of making money. But there is one thing that some people get understand wrongly, the thing is that when you are all alone not going to work like others in your vicinity, those same people starts thinking you are into fraud because you are not going to work and you are always at home 24/7. So I am only trying to let you know that you don't even need to tell people what you do before they conclude on their own, and it doesn't matter to them if what they are thinking is right or wrong. It's important to have other investment and not put crypto currency as your only investments, there are other things that can also provide money, both business and other things within.


Title: Re: Challenge of Bitcoin as the only source of income
Post by: DaNNy001 on July 06, 2024, 09:55:43 PM
The sooner you know that Bitcoin is not the only crypto currency in the market the easiest you know that Bitcoin is not the only meas of making money. But there is one thing that some people get understand wrongly, the thing is that when you are all alone not going to work like others in your vicinity, those same people starts thinking you are into fraud because you are not going to work and you are always at home 24/7. So I am only trying to let you know that you don't even need to tell people what you do before they conclude on their own, and it doesn't matter to them if what they are thinking is right or wrong. It's important to have other investment and not put crypto currency as your only investments, there are other things that can also provide money, both business and other things within.
The diversication of means of income is probably the best thing that one could do for themselves because you don't get to worry much because the money won't be on a stand by and as for crypto investment, I think Bitcoin is one thing I can pick out to make an investment in because every other assets the possibility of getting failure is very high.