Even if the expected profit is large, it is still uncertain. No one can say can tell what bitcoin will become except time. Going all in is a bad move (in my opinion). Maybe 50% of his savings was enough, that is still a large amount if it doubles or triples.

That is why you need more source of income. Just holding some bitcoins on cold storage is not enough to be rich or it can make you rich but it takes a very long time to come true. You should try investments, trading and other source of income so you can become rich faster.

Profits from small capital on trading is not enough to earn a living. Though it can be start. Start trading small and  slowly build your wealth. That will take some time though because you do not always win on trading.

Bitcoin can help the poor people on the poor countries. Like me, I earn a few bitcoins thru signature campaign, but if it is converted into fiat, it is already a lot here in our country. And that is just signature campaign earnings. If you add some trading income, then it will be enough to survive. If I only rely on fiat earnings, the pay will be too low.

It is still not wise to put all your money on a single investment. It is best to diversify it. If things got worse then he lost all his money. That money is  hard to earn back even if you have a good job. If you have a few investments, if one fail the others will cover the loss.

Save some , Invest some is what I will do. There is no escaping inflation but we still need some funds tucked away for future use, so we still need to save some money. And you can be more confident doing investments if you have some back up fund saved somewhere.

It will still take a long time before bitcoin price touches 1200. It will be an idle money for too long if you do not invest and just hold. I think it is better to invest some of it so it can grow while you are waiting for your target price.

Getting promoted is a good thing but it should not be your goal, even if it pays well. Our jobs will only pay us if we can still work. So, we need to have some investments. Investments earn us money even if we do not work.

That is one way of managing your money. Also, the other way is putting them to work or investing them so they can earn more money. I believe that managing money is not just making ends meet or saving. It also includes using them to make more money. Earning more makes its easier to make some savings or make ends meet.

The suggestion is not limited to selling lemonade. The idea is to start a micro business that accepts bitcoin as payment. It can be anything, like street foods and the like. The only disadvantage  of this one is the waiting time for confirmation and transactions fees for a very small item. Otherwise, this is a very good idea.

It will be a pain for traders if there is no movement in bitcoin price for that long. They make money from those little spikes. Remove it and traders will start to look for a new source of income.

A couple months ago bitcoin is over hyped due to halving. It is proven by the fact that after that, bitcoin price went to a correction state. Thus the price went down to 500.  Now bitcoin seems to find new energy to push back up. It may not  yet reach 800. It will take time if we want a stable 800, not just a surge that will go down suddenly too.

That is why it is better to have your own business. Having a good job should not be your end goal. Take your job as a stepping stone. Do your work, save and invest. If you just work for others, you are just making them rich. But if you have your own business, then you are making yourself rich. But you need to have good financial management. So having a small salary is tough, but it could be a good training ground to have a solid foundation in managing your finances.

Normal rat race it is if we just focus on paying bills. If we are going to take bitcoin then it should take our life to the next level, not just enough to match our current paying job. It should be better, consistent and with a promise of a better future. But I do not think there is a job in bitcoin right now that can give that. It is a good source of extra income though.

That is very tempting but if you have a responsibility like providing for your family then you will have seconds thoughts. Maybe for those who do not have responsibilities but themselves can take the risk. Unless you have a stable source of bitcoin income, it is hard to dive in and do bitcoin full time.

What normally happen is that we spend our salary on unnecessary stuff like cigarettes, drinks and smart phones. While we borrow money for the necessities. So what happens is we get buried on a mountain of debts. If we can get rid of our vices and use our money on what is important, then we can have some extra money for saving.

That is if you have the skills to choose the right investment. If you choose poorly or you do not have what it takes to become a good investor, then there is no profit and nothing to save. Investing needs some time to learn and become an expert. That is why you need some savings to protect you while you are learning how to invest.

Since you are already investing on bitcoin, I think you should avoid gambling. Even if you profit from holding your bitcoin investment but you gamble and lose it, then it will be all for nothing. Maybe you can invest on a reputable gambling sites instead of tossing  your money on the gambling table.

Your head will just burst if you keep thinking that way. There will always be lower price and higher price. If you believe that bitcoin has a good future, NOW is the right time to buy bitcoin (price does not matter)  because in the future it will be way higher. But if you do not have faith in it, there will always be regret that you did not bought at  a lower price.

I think you are thinking backwards. Why marry and have children before working hard? If you can work hard,  work hard now that you do not have any responsibilities yet so you can earn more, save more and invest more. It will be harder to do that if you are already supporting a family with all the expenses of feeding them, medical expenses, etc.