I'm currently planning to invest, also holding some of my coins and, eventually, using part of it to trade btc and altcoins.
That's a good plan although I believe having a plan to get rich will only stand in the way of getting rich because having a plan usually limits your mind to that plan instead of thinking open and freely about a case. Having a plan gives you a goal and a direction. And it does not mean you cannot give attention to opportunities that could go in your way. You can always improvise and revise your plan as you go along. |
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Have a list of all your expenses for the month. Have savings account and regularly save. Be frugal. Avoid discounts and sales on malls.
It is easy to say that but it is really hard. I am okay with the list you stated but I am sure you will be frustrated after you find out all the expenses you made on your list. I have done it and since then I do not do it anymore. It turned out that I needed an extra income because of the result I saw. That is the way it is. If you cannot limit your expenses and your salary is not enough, you have to find a new job that pays higher or supplement your income with part time jobs. I also am like that. All I spend is necessities but my income is not yet enough. Luckily the gig in signature campaign give some income to supplement what I earn. |
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I won't quit my day job for bitcoin simply because I don't have anything to do with my time in bitcoin. I wouldn't know what to do with so much time.
I don't really trade I just do some services etc but it wouldn't be enough work to go trough the day everyday.
Then be satisfied with working in bitcoin as a part time job. If you have a nice day job, then bitcoin is a nice addition to your income. And if your day job does not provide well, you can study trading and hopefully someday you can focus more on bitcoin and earn more. |
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Second that!
It would be nice if the world used one currency. No more getting the phone out to work out how much something costs in a foreign currency.
That is a bad idea for forex traders. They will lose a lot of income if that happens. Though it seems to be a good idea at first but I think it is better if there are a lot of cryptocurrencies and fiat currency. So that there will always be a competition and we will always have a choice on what to use. |
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Doubling bitcoin is the same as asking how to double my 100 dollars. You work for it till you have double the amount there's no one push button to double it. Do what you were doing or trade for example until you reach desired amount.
There is no one magic button alright. But some people are earning faster than others. Maybe, that is what the OP wanted to know, how to hasten the earning. Like will you earn faster trading or investing or just working hard or maybe the mix of the three. |
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In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.
I completely disagree with you and i feel more safe in bank for putting my large some of money than in bitcoin wallets.In bitcoin wallet we cannot meat their support staff and cant see them in our locality but in my bank i can regularily have a view there,talk to managers for any problem.Even i cannot compare banks with bitcoin wallets. what you are referring to are online wallets. But you can also store your bitcoins in cold wallets where you have all the control regarding the wallet. Your bitcoin is very safe there because you are the only one who knows where it is. As your long as you do not share your keys, then your bitcoin is safe. |
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It is difficult to say anything about trading markets how they will move in future. I can share my thoughts about price of Bitcoin and those will not fall significantly anymore. A few percentage of ups and downs are part of trading and beauty of which can not be considered increase or drop at all. In my opinion price will not fall under $560.
Can you please explain more about why you think Bitcoin will not fall below $560? That user can't explain it. So far all people that have been saying that the price will not go below certain price levels, have all been wrong. The price went exactly there and even lower. Look at the $1200 ATH peak for example, who on earth thought to see the price to ever return to sub $200 prices?  Right, we should expect on the bitcoin price that it would reach a certain amount either rise or fall. As you mentioned $1200 is the peak price and on those times people would probably say that it would rise even more just like on what we are saying today then suddenly price goes back to $200. Price volatility of bitcoin which causes it. It was a different scenario back then. During that time, I think bitcoin was being pumped and manipulated by the whales so that they can earn more. Nowadays, whales will have a harder time manipulating the price of bitcoin because the users now are a lot diverse than that time. |
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I guess it's possible to make a living with it in different ways, Either running a big website taking/accepting BTC and therefore making a living with it or using altcoins or trading BTC volatility with USD but those would require a huge sum of BTC's and a moderate risk to invested money...
those options are possible if you were an early adopter of bitcoin. You have a lot of bitcoin by now and you can fund an exchange or a gambling website. Those business can earn you a lot of money these days. But for the likes of us who joined bitcoin later, it will be harder to find a job that can sustain a good income in bitcoin. |
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if i am not earn much of bitcoin in a day, i will not quit my day jobs, because if we have got high payment in day job while we only earn small-middle bitcoin, its not enough. so we should continue our day jobs and earning bitcoin in many ways, so somedays, i am sure that we can make big earning with bitcoin and then its time for us to quit our day job.
Definitely, no one like to quit his daily job, if he has not earned too much from bitcoins. But i think better is that join the both ways, If someone have good day job and also he has extra time and in extra time he is doing work with bitcoins, so that is too good. I don't think that only whole depend on bitcoin is good, so do the work with day job, and also work with the great bitcoin. The only one who will enjoy the benefit of working full time in bitcoin are those who invested early on bitcoin. THose people who got hold of bitcoin when the price was still in cents. They have enough bitcoin to start a business and earn a living out of it. |
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I have not actually followed the price movement of gold. And I have only been into bitcoin for almost a year. So I cannot decide yet which to take. But since there is a law in investment that says do not put all your eggs in one basket, then I can say if these two are really good investments, we should invest in both of them.
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Price is the most important factor in bitcoin and it matters a lot to the normal users like us who are busy in earning their coins by working on various options available.
Yeah I agree, I also think that the Bitcoin price is the most important because that is what letting people decide if they are going to buy Bitcoin or sell. If the price was always stable then Bitcoin would never be as popular as it is right now. If you are going to dump it, then price is really important. But if you are getting into bitcoin for long term investment, then the price today does not matter. Only its value in the future. BUt if you are here because you believe bitcoin is the solution to the ever inflating fiat, then price does not matter to you at all. |
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Paper money is too old and doesn't fit with the time anymore. It's not practical at all and makes us vulnerable for eachother.
Digital money is more secure and more advanced, this is why I believe A cryptocurrency will be the next global main currency. Doesn't have to be bitcoin it will be digital.
You just said it, too old but if you look outside the box, it's still dominating the world of money currency. It means fiat are tested for long term usage. Look at how old it is and still strong up to today. It is not because it is old. Fiat will collapse because the government that is backing it keeps on printing money. Soon it will run out of value because there are way too many printed money. |
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I don't have any specific plan to get rich with bitcoins as I am not thinking too much about bitcoins and I don't know where I will land in future and how many coins I would be holding.
True and also to get rich sometimes you have to improvise alot and we can't just make a plan and follow it step by step until we get rich. It takes alot of adapting to situations and recognizing good chances which you have to take and some leave. But you cannot just wander around and expect yourself to be rich. Your plan does not have to be perfect, it can be revised to fit according to the situation. Like, if you want to be rich by becoming an altcoin trader, then you can make plans on how to become the best altcoin trader. Atleast you have a direction to follow. |
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I don't use PayPal anymore since I began to use Bitcoin. I have said bye bye to PayPal about 2 years. I was also facing problems as there were too many unnecessary regulations. Bitcoin is just better by all aspects without comparison at all. It is injustice even to think PayPal is even near to whatever Bitcoin offers.
Those who work online will just have to use paypal because not all online job employers use bitcoin to pay their employees. Most of them still pays thru paypal. Just like me, I still receive some payment thru paypal. Bitcoin has cheaper fees and not so much restricted, but there is just not much work that pays thru bitcoin. |
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Probably the best way in crypto, to have steady income, is by mining. But this will be worthwhile only if the cost of electricity in the place where you live is not very high.
Mining will not offer you any sort of income at all actually cause the electricity bills will be higher then what you can mine at home. Nothing in bitcoin can really give a steady income, if you looking for a steady income you need a full time contract. Like what he said, if the price of electricity is cheap that mining can be worthwhile. Otherwise, it is no use mining. Just let the chinese control bitcoin mining industry. Maybe for ordinary people like me, bitcoin is just good for extra income. But for those who can start a business, they can make good money out of bitcoin. |
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Do you really think there are people who loved to get payed in bitcoins i dont think this is really true because i know what the bitcoin will be in the future and dont think allot of peopel will be happy about it.
I do not think anyone know anything about the future, so I do not think you know what bitcoin will be in the future. All we can do is speculate and hope that we are right. What I know is bitcoin have survived this long and it may still survive much longer and prosper more. |
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When do i expect the price to fall seriously i dont hope that the price is going to fall lol but when he is going to fall i think nearly at the end of this year he wil drop allot.
Is there any basis in this speculation? Why will bitcoin price at the end of the year? I hope this will not happen because I am banking that bitcoin price will go up higher this christmas season. |
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price just recovering it self to the stable point,increasing a little bit but continously,so it's basically no selling trend,so it comes to the conclusion that the price will definitely up,nothing to worrying about,after halving just happen,it's seems a bit hard to dump the current prices,but any possibilities could happen
yes price is really recovering itself,and now it is trading above 600 USD. hope this time bitcoin will cross 800$ in october and will make new record at the end of this year, Either it is the trend but it can well be the price is manipulated again. For us spectators it may something we will never now. In that regard it's hard to say we are dealing with a so called new trend or we ar seeing the whales back to work. Either, interesting times coming up. I don't think price is manipulated, or even bitcoinn price can be manipulated at this point. You need a very large sum of money to do this. Even if there is some whales who wanted to, he needs to throw millions of dollars before he can move the market. I think this is the price correction stage of bitcoin where bitcoin price settles at it's right value and be stable for sometime before an increase or decrerase of price. totally agree, also I think most whales are now trading alt coins because their 1000-5000 BTC are not near enough for bitcoin price manipulation, even if they decide to try to manipulate BTC price their first target will be to dump and try to short I bet in past few months they tried hard to short and most at least 80% lost It is a good thing that bitcoin is not being manipulated anymore. It means we can freely speculate the price of bitcoin and trade without the worry for bitcoin suddenly dropping. |
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Bitcoin is the greatest invention in digital technology in this century we are living. As long as the internet will survive, so will bitcoin.
I expect it to continue to be used for another 20-30 years at least without any problem or interference. I just hope the developers don't rush to do the Hard Forking after what's happened with the Ethereum hack.
Other than that I don't see any problem for bitcoin even in the coming years.
Yup, I think it will survive for long years, only that it will be a roller coaster ride... We can't expect the price to go stable, there will always be ups and downs but the good thing is it won't die... It already prove itself for the past years that it made a lot of swings...It floats like a rubber in the water...  It is better for traders if bitcoin price fluctuates once in a while so you can have opportunity to enter a new trade. If it is very stable and does not move, it will be very boring for traders. And that is why it will linger for a very long time. Traders and speculators will continue to support bitcoin. |
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I use it mostly for investments, to trade and invest in other projects. But it is of use for both purposes, and that's a important advantage of using Bitcoin, you can use it to buy products or services and also to invest.
Yeah, bitcoin itself is an investment already. You can just buy bitcoin whenever you have extra cash and hold it in your wallet. It will grow in value over time. And if you feel like you want to buy something online, you can easily use it as a currency. This method is better than just putting your money in a bank and let it sit idle out there. |
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