I would never quit my job to go on Bitcoin full time because it is not sure that you are going to make enough money to be able to pay your bills every month.
Maybe that in the future it will become possible but at the moment I do not see it happening.
Yeah price is not higher at a moment and it will be risky to get full time in bitcoins as price may fall down in coming future and that can affect our life financially. Some people are taking the risk in bitcoin they are full time in Bitcoin because they know that the Bitcoin price is not stable so they use their time waiting for Bitcoin price to go down and they buy it then resell it once the Bitcoin price goes up. In order to profit big here you also need to have a big capital to buy Bitcoin. But for me i prefer to have a full time job and do Bitcoin as a part time job for extra cash only I also do bitcoin for extra cash and it really helped a lot. But I do not think I am already ready to go full time on bitcoin yet. I think what I earn from my job plus what I earn on bitcoin is enough for the time being. Going full time on bitcoin might just jeopardize my future if I go unprepared for the consequences. So I will take my time and prepare for it and if I am ready and opportunity comes, I will grab it. |
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Depends on your goals really. But keeping money on a bank is a waste IMO. There are more the enough safe investments which give a higher return rate then what the bank gives. Investing in bitcoin might proof to be worth it for you, it was for me. Bitcoin was my first "investment" and it got me hooked.
Money on the bank is good for instant cash. You cannot get cash if you invested all your money and it is trapped in equity. Or if you invested on bitcoin, you do not want to get your money out while the price is down. I suggest you put some money on a bank for security, the rest you can invest wherever your hearts desire. |
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This actually depends on many things, as on how much money are you earning from it. I'm not an expert, so I am not intending to put my job at risk.
I think in this case you should keep bitcoin earning as your side job or part time job. you can get experience on earning bitcoin and when you become an expert of bitcoin you can then turn into full time in bitcoin. this is the best way I can prefer to do for bitcoin. because I also not able to find a good bitcoin work which give me enough money. Yes, it is needed that you should be an expert in bitcoin and have a lot of work opportunities in it before you consider going full time on bitcoin. If you go full time unprepared you might end up with no work or earning less. That is a bad move. You should consider everything for your own sake. |
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If you want to live a very comfortable life don't be satisfied saving your hard earned money, find a better investment to make your money grow.
if you want to live a simple and delicious you must have a lot of savings. because the key to happiness is having a lot of money, so it has a lot of money with a great saving method is a strategy that should be used. you must have a plan to save a lot of money I do not believe that the key to happiness is having a lot of money. There are still a lot of millionaires who are living a miserable life even if they are surrounded with a lot of money. But money do provide a comfortable life. But it is not enough to keep you happy all the time. You need to save and invest but it should not be the sole focus, there are other things that is equally important or more important than money. |
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A simple example like this: if I had $50 million dollars 80 years ago lets say I could buy 500 kilos of pure gold. But now if I have the same amount imagine I saved it since 80 years ago till now(yeah sure)  could I buy 500 kilos of gold with it now? The answer is NO, how ever if I'd bought the gold and kept them I could sell them now and get 20 times more money than 80 years ago I spent on buying them. Meaning money is losing it's value every year and I'm sure we will have to pay $1 million dollars for a sandwich 20 years from now. It does not mean that saving is useless. It is equally as important as investing. Let us say you put all your money on gold and you got cancer while the price of gold dropped 25%. Didn't you have to convert your gold to fiat for medicinal needs and by doing that you also lose value of your money in gold. This is just hypothetical, but what I am saying is, you should have some money on savings and some on investments. Balancing them is better than just focusing on one. |
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Answer to your title: YES. You used the word long term and I firmly believe in the long term bitcoin will go up pretty high, hence why I am investing most of my savings into the coins just so i can reap the profits LONG TERM  1 btc is good amount to hold for long term, but the only thing comes to my mind is why to keep it idle, its better to trade with them and if you succeed then you will be holding more then 1 btc for sure. Maybe it is riskier to do trading than just holding it for a long time and wait for the profit. Trading can be profitable if done by someone who has knowledge and experience. But for newbies, it can be quite terrifying to do. You can make a wrong trade and you can lose everything. But you are right, if you have the right set of skills, it is better if you just trade your 1BTC than keep it idle for a long time. |
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if the value is reasonable i will accept it.
the problem is usually the rate of paying and ''real rate'' of bitcoin price in exchangeris diffirent with highest prencetage.
the same for me, also the price of the bitcoin should be way stable than it is right now, in my opinion only then people would be into bitcoins If price is in 4 digits and if it is stable then it would be great to accept salary in bitcoins, but as of now I will not prefer to accept salary in bitcoins as price is not too high and it will not give me steady income too. Even if the price of bitcoin is in 4 digits, if you get paid in the same amount equivalent as you are getting in fiat, then there is no advantage. At least now, that the price is still in 3 digits, if you get paid in bitcoin, you can store it and you can wait for the price to go up. Just consider it as an investment. Then, I can say that you have an advantage there. You are getting more, in the future, not instantly though. |
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I will just use bitcoin as an intermediate to be rich and use it on some investment in real life because I think Bitcoin is in early stage for now to be use as an rich scheme investment. But if I saw some opportunity I will grab it and implement it in real life so that I can be unique in a way that I'm using digital currency not fiat.
You cannot sit idle and hope for opportunity coming your way, you need to create an opportunity to take best benefits from it and if you will look around then you will come to know that what I am saying is true. Yeah, sitting idly and waiting for things to happen will get you no where. It is better to be proactive. Even if bitcoin is still on its early stage, there are a lot you can do with it already. I think now is the best time to make use of bitcoin in an investment. |
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People would really want to have total control with their lives and would definitely want to have no boss - but doing day job is the only security to survive in the rat race. People are so afraid that when they venture on things like bitcoin, they will no longer have that capacity to pay for their liabilities and needs in in their family lives.
It is the worst thing to be trapped in a rat race. It will be a cycle of working and paying bills, on and on. If there is a good opportunity to get out of it, i think we should take it. One of it is by investing into bitcoin. You do not have to quit altogether suddenly. Maybe just allot some time then gradually move to fully investing in to bitcoin. |
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I will definitely quit my day job to go full time on Bitcoin. We all hate day jobs, it takes all your time and it sucks all the energy out of you. In bitcoin, you just have to stay at home and become knowledgeable about certain things, then you can earn even more than your day job. I don't about all of you but I think most of us isn't actually committed or is passionate about our present day job.
I am not sure it will work out that way. There is always a lot of difference between expectations and reality. And if you are not good at your day job because of any reason, it will carry out to bitcoin jobs as well. They are both jobs, boring and tedious. The only difference is one earns fiat, the other bitcoin. If you treat bitcoin as a job, it will be that way. Maybe a different outcome if you treat it as a hobby. |
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It is very important to have reserves for future needs, but if the money is all in fiat, the inflation may affect the purchasing power of your reserves.
So consider investing part of it, in BTC for example, to compensate the inflation and for potential profits.
We cannot deny the fact that inflation happens. But some of us do not even know what inflation is. So we need to educate ourselves first before we even consider investing. Saving is what we can while we educate ourselves. And also, saving can serve as a retirement fund. And if we knowledgeable enough to choose a good investment, then we can pull some of the money from our savings and start investing. |
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From what i know thus far: If you hold out from buying bitcoin you will never own any because you will keep having this mind set that the price is too high and it will go down tomorrow. But then it will be the same excuse the next time you want to purchase any. It is just a never ending cycle and in the end you will never own any because the price will rise until it beyond your reach to even attempt to buy any.  He is right. There is no wrong time to buy bitcoin. If you studied it well and you believe bitcoin will have a good value in the future, you will not hesitate to invest into it even at the price right now. In the future, it might go very high or not, but you will just regret it if you do not act today (or not). |
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First of all a budget is number 1, write down everything you NEED to pay per month like groceries bills etc, after that you can see much you'll have left after basics needs. Whats left of the money you can decide how much to save and how much to spend on extra's
I do it the other way around. I determine how much I want to save first, then fix my budget. It is budget is equal to salary less savings. This way I can make sure that I have savings intact. If my allowance is not enough, I am forced to work more so I can earn more. |
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Buy when the prices fall due to some insane reasons. You may also want to buy monthly, like set aside a part of your monthly earnings to buy some bitcoins.
Or maybe just simply buy when you feel like buying some more.
I like the idea of buying bitcoin on a monthly basis. It should also be the same amiunt of bitcoin. It is called cost averaging. I usually do it on stocks. But it can also apply to bitcoin if you consider it as an investment. The only thing needed so that it can be successful is consistency. |
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The mining is becoming too expensive and none profitable. I think that will bring uᴉoɔʇᴉq to an end. Another problems is that there is only a few miners left controlled by a few making them controlling moondollars. It's no longer the currency of the people but a currency of the few rich companies that runs the show.....but for how long can the continue?
I have been looking at Rimbit instead since it is premined and therefore don't need the middleman with the expensive hardware for transaction validation. Instead the validation is done by the wallet's running on peoples computers. As I see it it's a currency for the people and it will stay that way. Sadly it's still fairly unknown.
Time will show how long moondollars survive but my guess is not more than 3 years......please challenge that statement with serious arguments.
Mining is never expensive and non-profitable unless you are living in a place where electricity is too expensive because there are people still mining bitcoins in places where they earn profits after paying electric bills with the bitcoins mined, so that is really not the case right now, and even if a lot of people stop mining that wont bring bitcoin to an end because the existing bitcoins are always in circulation so that trend will continue i guess. Actually, if there are no more miners, then bitcoin will come to an end because transactions will not be confirmed or processed anymore. Miners are the one processing that confirmation. And even if mining is controlled by a few giant miners, I do not think it would end bitcoin either. After a few more halving, the reward would be lesser. And bitcoin will be spread out to many users. |
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It's not very good idea to compare banks and bitcoin wallet, but anyway for me honestly bank is better, cause it's already time tested and trusted.
and why is it not a good idea? bitcoin wallet is definitely way better than just ordinary bank services because it is a lot safer We got our own opinion on what are really tested by our experiences. Maybe some have experienced worst in banks but got bank their money. That is one hell of a good trust that will stay in people minds. While in online wallets you could what shit happened. This is for those who cant have their own wallets, a no computer person. It is really hard to trust bitcoin for those people who are not good in the internet as they can easily commit mistakes which will risk their money from stealing that is why I said all the time that we cannot expect majority of people will adopt with bitcoin as it is complicated in their minds and they want security in a simple way. By now, even the old ones should know already how to protect their email address, credential, log in information. And teaching them how to protect their bitcoin wallet will not be that hard. Bitcoin wallet is very safe. Just do not give away your private keys and you will be fine. Even oldies can do that. |
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It depends on the level of stability that you get in the activity that you perform.
yeah I think if you've got a fixed income in bitcoin and you get good conditions and circumstances in the sense that you get the feeling of security in bitcoin. it may be time for you to consider to working full time in bitcoin. maybe I'll do the same thing. but now I'm enjoy in real life jobs a good choice to keep your real job. because it will be difficult to re looking for a real job, if one day you do not get good results from bitcoin. bitcoin be a very good for side job if you just do a signature campaign, mining or holding. Right, for real jobs have warranty or we are warranted in some things that cannot be given by bitcoin. But if you are someone who wants to get out of work and want to be an entrepreneur then you can make a payment online stores that use the bitcoin. It's even better than the real jobs that must be hard work Even if you are an enterpreneur or employee, they both need hard work. It is even harder to be an enterpreneur because you are the one thinking where to get the money to pay you and your employee. As an employee, you just do your job and wait for your salary. But an employee can never be rich. |
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I don't know, i am here for a long time and still don't know how can i get enough money for life with bitcoins, i am also thinking what is better for me, default job or bitcoins.
Regular job in my opinion is better because I'm sure the results are more than of bitcoin. But if you want to have an extra can also use bitcoin. To be rich with bitcoin also have to work hard and use many ways are there so that we can collect bitcoin quickly. Getting rich with bitcoin is not easy as if you want to do that then you also should have high amount of coins and we are well aware that its not easy to earn bitcoins. It is not easy to be rich using fiat, and even in bitcoin. But there are people who are getting rich. Whether fiat or bitcoin, there is only one formula that I know that works to become rich. Work hard, save and invest. Just do this over and over, and whether you are in fiat or bitcoin, there is a great chance you will be rich. |
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the best way to save money is to manage the money we have. we have to be clever in managing income and expenses. so we can save money to secure the future. investing in gold is also becoming one of the safest ways to save money you have.
Of course how can you save money if you don't know how to manage it in the first place lol. Even how clever you are if the earnings is just enough, people will really have some difficult road to save money. It must be start with the root and that is find a decent source of income even you have to work for multiple works. It is really hard to save if you do not have a decent source of income. But those who do not have decent work or source of income are those only who do not want to work. There is a lot of work you can do, if you really want to work, save, and have a good life. |
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It's best to diversify and have investments in stocks, bonds, gold, bitcoin, etc. I recommend that you never put all of your money in one type of investment.
And some savings too. Bank savings is very important to any man trying to enter investments. Savings will be your back up plan if some of your investments become a scam or if your investment did not return any profit. Though your money will lose its value if it is stored too long in a bank because of inflation, it is still necessary to become financially free. |
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