Bitcoin Forum

Alot of us bought BTC when they were *cheap* and been holding them since. Hoping they will keep climbing in value. And at the same time many altcoins rise and fall, people buying low and selling high, or even shorting BTC on sites like Bitfinex... Or mining new coins and then dump them as soon as they hit the market. There are also many securities out there to invest in like ASICMINER and HAVELOCK and now some mutual fund types investing in many altcoins, bitcoin and shares in crypto companies.

I am not talking soo much about Pool operators, or people with massive ASIC/FPGA/GPU/Rent-A-Server Farms, nor people that are just hodling. Looking for people invested in buying, holding and selling coins short / semi long term and or buying securities in groups that mine and give out dividends on their output.

With all these options out there, to invest in. Where you can possibly get a monthly, annual dividends, or as stated trade on the exchanges. Has anyone made this their full time job and been successful at it?

Certain names come to mind like Chris Dunn and Johnny Roquemore.

I'm wondering the same.  If you are making a living (or did for several years) I wonder how you've been handling taxes.  What a pain that must be, trying to prove at what price you bought BTC or other currencies, because there is not the paperwork on the exchanges like you'd get on TD Ameritrade or Schwab. 

I think there must be some people, as you could buy a bitcoin for 0.07$ in the past.
So it was easy to get say 2000 BTC which at current price would be worth one million dollar.

there was a case here in the forum of someone who made more than 100k(he didn't sell), and then was arrested or something, o don't remember the full story though

I have reported my BTC and Altcoin earnings for the last two years, i think its pretty easy. Just notate the date you bought them on and the date you sold them on... and if you have not sold then notate the current price.. My CPA handles them similar to stock shares. Has worked well so far *fingers crossed*


I am a holder of btc as well, but as you stated that is very long term investments. You would have to hold for years to get that kind of return. But this is not the kind of investing i am talking about, i am talking about buying when a coin is low and then selling a couple days, weeks months later when it reaches new heights. I am curious how successful people have been selling coins being alt or otherwise on the dips and rises. The only long term investments i am talking about for passive income would be as stated ASICMINER or some other share type investment.


100k just holding BTC? or are we talking about some other coin?

Do you mean the "pump and dumper" crowds?

There are at least a few people who trying this continuously, so they must be making a lot of money.

Or are you talking about serious investors? The people who is doing this for a living?   

Yes alot of what i am talking about is pumping and dumping, buying low selling high. Buying a coin and selling it after it goes above 25%+ in value since you bought it. If you do this with many coins, and throw a few hundred or thousand at them, you could have some good returns... or bad losses.

Also having a couple rigs mining new coins, and then sell them when they hit the exchange.

What would you consider serious investors?

There are lot people
example : early bitcoin adopter, satoshi nakamoto, dan scam alt. coin developer

IF you mean seriously 100% in crypto. I think only satoshi nakamoto  ;D


Yeah.
or you can make altcoin, mine it. and sell all when price is high  ;D

How much do you think he will have to pay in taxes, if he does cash out.  ;D

To buy low and sell high in hours, weeks, months is not called investment, but called speculation. Most of people who do this type of things do lose their money.

Yeah there are plently of whales that regularly move the market although im guessing most probably got in fairly early on.

just holding btc, was a old member who started mining very early, i don't remember the full details, but there was a photo of him and his family in the web

These people do exist but they need a lot of money to process volume and they need computer bots / scripts to day trade for them. .  but it's still not fool proof.

We have a few people who are doing well with our virtacoin.com (http://virtacoin.com) and have done well for themselves with other coins btc and ltc included.

If CMI's can exsist in the capital market of course its possible to survive on it partially.

Living with crypto trading and investments is my dream but at the moment I don't have many funds avaiable so I'm trying to accumulate as much as I can for the future.

Alt coin developers probably make quite a lot compare to a regular job.

Remember, some of the developers were involved in several coin projects and then abandon the coin after the initial pump from unsuspected investors.

I think a lot of the altcoins are really nothing more then a way to make their creators rich. IMO they serve very little, if any, other purpose. Bitcoin is able to provide much more then what any other altcoin can provide.

Widespread adoption is what provides bitcoin its value. These new altcoins are always playing a catching up game. So it is very difficult for them to gain bitcoin's valuation.
But still people speculate using them because one altcoin might turn out to be the bitcoin-killer.

There were many scamcoins which made their creators really rich, sometimes scammers are really clever I have to admit.

Are there any famous examples of altcoin creators getting really rich?

I would presume those behind darkcoin would have become really rich?

From the sounds of it you need large amounts of capital to buy large amounts of coin really make a living at trading, at the same time risk loosing large amounts. i would assume the same is true if you wanted to invest in some miner shares. As investing one BTC may only get you a return of .1 every month. But invest 10btc you can get almost 1 BTC a month. As many said getting in the crypto world early is key, which technically we still are in the beginning. Many other coins could take the place of BTC when their market cap rises.


What is CMI?

I don't, but I think there are some there who done/doing this and not all might be known.
Hoping I could be one of them someday. ;D

You have to consider volume also.

Just because the price might reach a given high, doesn't mean that there's enough buyers at that price from someone to throw enough money into it to make a substantial profit.

Right now we are dealing with a sideways market, even the altcoins have had very selective rises and falls. When there is more volatility im sure more can make good money day trading.

Now is a good time to mine or invest in miner companies, but not trading soo much.



very true, i see this alot with altcoins. You can put a bid on a coin, but it does not always completely fill. Can take some time in alot of cases.. same for asks when selling.

IMO with the exception of NMC and LTC all alts are "scamcoins" as they really do not anything of value to their users. I say NMC is not a scam because it provides the domains and LTC because it was the first scrypt based alt, however I would doubt that either be successful over the long term. 

If you are a speculator/gambler, you can still make a lot of money from these 'scamcoins'.

The fact that you like to speculate and/or gamble with your money does not increase your chances of making money off of trading altcoins. It only means that you are willing to take on more risks when attempting to make money. This means that you have a greater chance of investing in this altcoins (aka scamcoins) but is also means you have a greater chance of loosing your money doing this.

I hope Dogecoin is included in that exception. :p
Dogecoins are now failing in value and so, getting more of it now is easier. Just hope that the value will rise again to make it worth keeping now and selling someday. :D

Unless you see something that dogecoin can offer as value that bitcoin does not then it will not be. Granted the doge community does seem to be for some reason very active, this alone is not something that can potentially give it value. I think the reason why LTC is an exception to the rule is because it was the first of it's kind just like bitcoin is.

Best bet is to stick to BTC as your main crypto and then invest in some promising next gen altcoins like maidsafe, crypti, node - something that still has a chance of really taking off.

There are a few people who could possibly live only on crypto trends. There are some coin devs, some pump and dump fanatics (yeah, those whales who crush your dreams of making a nice profit), those alt coin scammers, and of course, the one and only Satoshi Nakamoto (though we never know who he really is, it must be obvious that he also profits from what he has started). :)

I think that makes our lives comfortable not only by investing in crypto currency like bitcoin, Maybe this time bitcoin could make our lives comfortable, but can not always like that, comforts of life are not only judged on how many bitcoin that we get, but how much of our gratitude for what God has given to us, hopefully this statement can inspire a lot of people ...  :D

I don't think Satoshi's coins have moved, have they?
Although some time in the future, they may help him live comfortably.

Late comers lose a great deal of money investing in altcoins and over paid for bitcoin.

You never know whether they overpaid or not. A couple of years down the line, they could be sitting on huge profits.

No one know what the future hold. One thing for certain is people over paid by wide margin based on today price.

I would have made a confortable living if I didn't have sold all my RDD coins when they were valued less than dust.

Of course many people have made a comfortable living only investing to altcoins if that what you are suggesting with the topic title.Alts mean a good business if you made a correct decision where to put your money and time onto

I wish i could live off BTC and cryptos  :'( :'(

If only there was any way of telling if someone had made a comfortable living. I personally would love to make a comfortable living however it's something that will not happen over night and definitely will take a lot longer than a year to accomplish something like that. Hopefully one day it may happen :)

In the altcoin scene there are many professional traders. That would be the place to look for anyone interested in making a living trading crypto.

In the altcoin market I feel like a fish being eaten by sharks, goodbye trading.

You also have the issue that all alts have no real value so they will eventually all go to more or less zero. (you just need to wait long enough for this to happen).

WAIT - is what we all have to do

Wait for what? Wait for it to drop to 0?

Either that or actual economies will rise resulting in real spending and demand for certain alts.

It's not impossible.

someone surely is living off of it, some miners with big farm and no electricity can keep mining regardless, maybe some of them are also good traders

Not that I know of. Everyone I know is here for more cash, that means they are not still living comfortably. :)

Are there any jobs that i can do online to get paid in btc?

Well, apparently some guy was day trading and making like 1btc a day, but he was a legit whale so.

I would seriously doubt this will ever happen. If someone wanted to spend an altcoin there is no reason why they could not spend the equivalent amount in bitcoin for less cost and more security.

I want to live off BTC earnings, its my goal  :-[

You might be surprised. The crypto scene is going through something of a revolution in 2014. The amount of new tech that's being developed is impressive.

I hope nobody does. For the sake of bitcoin, it must not be seen as a successful currency for speculators.

I am not so sure about this. The price of altcoins when priced in bitcoin have decreased a lot in 2014 and it is generally getting much more difficult to start/launch a new altcoin as there is less overall demand.

Maybe not for speculators. It could be still seen as a success story for early adopters.  :)

Speculation is everywhere and unavoidable.

I would argue that all altcoins will eventually crash and burn and will trade at zero if you give it enough time. They do not add anything to the table that bitcoin does not offer (with the exception of less security).

All alts are really good for is helping their creators get rick/get a payday

My only goal is to escape the rat race. I Need to become self sustainable using as little energy as possible, to not end up killing myself.

Not now. But maybe very lucrative online (buying for merchandise for game or hardware for pc) but not buying food, or paying bills.

Pretty sure people like rpietila made a living out of crypto  ::)

Doubt there are alot of people earning much on crypto.
But also, i think there are a ton of people that will claim to that they do, dont know why they do that.
Being here on major uprends was very profitable tho, ut its not something insane to brag about

Stunna might be living comfortably with crypto. :)

He paid over 400-500 btc on signature campaign on the last few months. Doubt his dice gambling site make more than this when just-dice was still around.

I'm living with cryptos, I drink water and eat bread... maybe it's time to find a real job.

If Stunna can pay so much it means hes well off.