For the time being, bank. It is far more secure IMO, as there are lots of problems with Bitcoin lately. If you hold an online wallet, all may disappear. If you hold them in your computer, it is not as hard that it is broken losing your bitcoins, etc.
You have to educate yourself on how to properly protect your bitcoin properly so you will not lose them. Bitcoin is very secure if you have the proper handling of it. The hack that happened is on the exchanges. There is still no hack that happened to bitcoin or blockchain itself. So in my opinion, bitcoin wallet is safe. |
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We are not the same but for me i want to receive my salary as bitcoin if if we are always relay in the present price of bitcoin..
Also after i receive bitcoin i can convert it fast in fiat here in my country..
Yeah, I guess it does not matter if the price of bitcoin stable. But what if you lost quickly with the movement of bitcoin prices continue to fall when you are already receiving a salary. And although it was only a few dollars but harm, right? I think bitcoin is not ready if used as the pay system for employees. That is the risk you have to take if you want to receive bitcoin as salary. And what about if the price suddenly surges up? Then it would be very beneficial right? So the risk of the price dropping is nullified by the fact that bitcoin can also have a very high price in the future. |
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Different people have different approaches when it comes to saving money. Even if you are from the same family, your sibling could be more into spending than you are. In our family, I am the only one who is into savings and investments. I always make it a point to have something set aside for savings and investments. In addition, I try to make extra earnings so I would have additional savings.
That is quite true. Depending on the personality of a person, he or she can be a spender or a saver. But all people can be taught to save. It is just a matter of discipline. If you can teach your siblings to value their money and show them the benefits of having a savings and investments, they will learn how to save. |
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I do this. There are 52 weeks in a year. The first week I save 1 dollar, second week I save 2, third I save 3, so on so on till you hit week 52, in which you save 52. It's a gradual increase each week so you don't even notice it.
It's easy to say but it will be hard for others since there is no regular and fixed weekly earnings especially for those who has real life job. Their salary is on twice a month basis (in most of the cases). But they can increase the savings per salary day so that they can still keep up with their savings. I think it would be easier if you keep your money start to little by little. if you were earning about $ 1,000 per month. you only need to save $ 50 each month on your wallet. it was very small I thought it would not be hard for you to save Yup, it is a lot easier to keep on saving if you set a fixed amount per pay day. A percentage of it is also good. Like save at least 10% of your monthly salary. YOu should deduct your savings first so that you will not be tempted to spend it and ruin your saving plan. |
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It depends on the job, and the level of stability, of course. But as we can see, things are not very stable in crypto lately.
If we are just going to think of it clearly, it is very hard if we are going to depend only with your full time job and it is going to be good if you are going to have a lot of sources of income. And it is going to be better if you are going to able to have your time for both of it. It seems that many are working for bitcoin in full time here. have income from various sources it is very good if you are able to manage the time for it, but if you can not manage a good time it will be chaotic. so better take jobs that have higher incomes. Having different sources of income is ideal because even if one of them dries up you still have other sources of revenue. However in order to do that you will probably need to have a job with flexible hours or being your own boss and having your own business. Right, the more source of income, the better. We should not cut off any income, day job or part time, unless it is conflict of interest with the other. Or it occupies too much time and you can't do the other job. Otherwise, having those part time jobs is more beneficial to your financial stability. |
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to me the present time is the best time for buying bitcoin, because the price of bitcoin in present time is very very low and hope that it will increase very soon, it is also expected that in next some month the price of bitcoin will reach to its maximum high price,
The right time to buy bitcoin is always now. It does not matter what the price is, if you are planning to invest on bitcoin, then it is a good buy. In 5 or less years you investment will double in value. |
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honestly I was the one who was not good at managing finances. however I feel happy, because I can still manage the expenditure to be less than income. it helps me save a little money to save each month.
well im still not too good at it, to be honest i often lose my money on gambling games, though i get a lot of entertainment playing that Not good priorities. You should learn how to manage your finances. It is a very important aspect of life. Even if you are earning big, or you find gambling very amusing, do not squander all your money in it. Learn to save for your future while you are still strong and can work. If time comes you cannot work anymore, you have some savings to help you get thru life. |
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Investing is a good idea if you have capital available, a good planning and there is a promising opportunity.
That is why you need to save money first. Investment requires capital. If you are not rich, you have to work hard first, save a portion of your salary and if you have enough savings, invest some of it. You do not have to invest everything in your savings account. Only a portion of it because you might need money someday. |
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It s not possible to get rich with BTC. Not anymore.
Why not? If you can get rich working in fiat system, you can get rich working in bitcoin too. There are endless possibilities in bitcoin and endless opportunities to make money in bitcoin. I think it is still very possible to become rich thru bitcoin. |
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It would be too risky to quit your job but it would be good for you if you would make use of bitcoin too.
Yeah! it is true that quitting our job is too risky as we might not succeed in focusing with bitcoin. Our job provides us a stable and consistent income while in bitcoin we might lose our money, that's the big difference for everyone who wish to go full time with bitcoin. It is risky if you have no.actual plan to make steady income in bitcoin. But if you have a business or you are a good.trader, then you should have no problem transitioning from day job to bitcoin. |
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I will not quit my job for bitcoin, as I don't have more scope to earn bitcoins and I am earning too low from bitcoins at a moment so I will prefer to continue with my job.
Lol I think if you still have a low income in bitcoin. or you do not really know about bitcoin do not try to get out of the job and choose bitcoin. because it was a stupid thing? You called that gambling, you are gambling your future to uncertainty, remember that although some people are successful in bitcoin there are also some who failed in this venture and base on the facts you should carefully analyze your decision and do not just jump away. Totally agree with this. I quit my day job few months ago to venture full time gaining bitcoins and to be honest, I am now struggling hard and is thinking of going back to day job again - why? Because I have many bills to pay and a family of my own to feed. I have a newly born baby and just like any other father, I want to give him the best I can for his future. I am now in the verge of going back to day job and contact my clients again to provide them again my services. I was earning $1,500 more or less a month before and now I am not even close earning 1/4 of that figure. I have sleepless nights and worries but everything will be well - I am still holding though with bitcoins and my last recourse, when things still get worst, is to go back to my day job. Why did you quit your job even if you do not have a steady income in bitcoin yet? I will only quit my job if I have an established income generating business in bitcoin that beats my current job salary. I will stick to my job until I find one. I had few savings before I quit my job. I was looking at bitcoin endeavor with a very potential that is why I decided to jump it. Maybe it was a wrong jump but I see to it that I have insurance (my savings). But the battle is not done yet actually, we are still finding ways to earn now - I have a good partner and we are doin our best to get this. Who knows? I think you left your jobs too soon. If you have waited until you have a stable income in bitcoin before you quit, then you will have no problems. Anyway, you are in that situation now. I hope you find more ways to earn bitcoin and get out of that situation soon. |
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I do this. There are 52 weeks in a year. The first week I save 1 dollar, second week I save 2, third I save 3, so on so on till you hit week 52, in which you save 52. It's a gradual increase each week so you don't even notice it.
That's a good saving plan but you need to be consistent to be able to get your desired savings by the end of the year. I know you can do that if you will instill discipline and you will not let your wants to take over, over your needs in life. It will be harder to accomplish when you reach 30th week. It will be more than 30$ a week. I think it is better if you do it with constant amount. Get an amount you can easily take out of your budget. Then consistently save it in a bank or piggy bank. The keyword is consistent. Even if the amount is small, in time, it will grow if you consistently save every week. It will take time but it will grow. |
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You should find a balance between saving / investing money, but if you need to choose one , it's better to invest it.
Yes, if you have much money and you are not use it. I think it's better to invest it into something, so your idle money can earn profit from the investment. Put your idle money to bitcoins and buy the bitcoins as much you can and hold the bitcoin into your hardware wallet and see after 5 years that bitcoin will become double the amount for sure. It can be even more than double after 5 years if the momentum does not change. It already have done than in less than a year. Last year the price of bitcoin is just over 250, and now it is 500+. Imagine how much more it can grow in 5 more years. |
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to me it is very very difficult to keep money in your home or in your bank account and you will save money, therefore to me the best option is to keep it and to invest it in bitcoin, there you can save your money and can even increase it, because to investing in bitcoin is the safest way of earning money.
It is not the safest way to invest. Investing in bitcoin still has some risks. Bitcoin is still very young to be regarded as the safest investment. Something could happen and bitcoin can suddenly crash. Or a new altcoin is developed that beats all the weak spots of bitcoin. It is good to invest in bitcoin, but to say it is the safest, I don't think so. |
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this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.
Maybe. But I was also expecting this consolidation to take effect after the halving hype. The hack of bitfinex just hasten the process. After a few months, this consolidation will be over and a new push for a price hike will happen, if this is a normal trading. But it is bitcoin so anything goes. |
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I will not quit my job for bitcoin, as I don't have more scope to earn bitcoins and I am earning too low from bitcoins at a moment so I will prefer to continue with my job.
Lol I think if you still have a low income in bitcoin. or you do not really know about bitcoin do not try to get out of the job and choose bitcoin. because it was a stupid thing? You called that gambling, you are gambling your future to uncertainty, remember that although some people are successful in bitcoin there are also some who failed in this venture and base on the facts you should carefully analyze your decision and do not just jump away. Totally agree with this. I quit my day job few months ago to venture full time gaining bitcoins and to be honest, I am now struggling hard and is thinking of going back to day job again - why? Because I have many bills to pay and a family of my own to feed. I have a newly born baby and just like any other father, I want to give him the best I can for his future. I am now in the verge of going back to day job and contact my clients again to provide them again my services. I was earning $1,500 more or less a month before and now I am not even close earning 1/4 of that figure. I have sleepless nights and worries but everything will be well - I am still holding though with bitcoins and my last recourse, when things still get worst, is to go back to my day job. Why did you quit your job even if you do not have a steady income in bitcoin yet? I will only quit my job if I have an established income generating business in bitcoin that beats my current job salary. I will stick to my job until I find one. |
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If it happen to me, i will try borrow money from my friends and my relative first. If they can't do that, i will try find a job or part time job, because i really need money.
i think we can take loan at bank with our home certificate or our motorcycle certificate as a collateral, in my country it's very easy to take loan with valid collateral, the interest only 20-30% per year. 30% is too much as an interest. Are you taking the loan from the bank? That is too much as an interest. And they give barely 1% interest if you deposit money to them. These banks are taking too much advantage of poor people. |
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Although it is really far from truth that bitcoin will drop to $1, however when that time comes, I will definitely buy as much as I can. Bitcoin is the future, period. I just hope that the number of bitcoins will go as far as billion instead of just 21 million something.
Bitcoin will lose its value if it will be billions of bitcoins available. remember the law of supply and demand, the more the supply, the less the demand. It also applies to bitcoin. Bitcoin can be viewed as like gold, there is limited amount available so the price keeps going up. |
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I doubt that dollar will crush. As all American dollar has the best promotion, that's why it is so popular in the world and well known. Dollar rules the world nowadays. So I'm sure it will not crush in nearly feature, in far future - who knows?!
Everything can happen. It may be the strongest currency today, but it can be replaced in the future. if a strong country becomes very powerful or if bitcoin becomes stronger and overtake the dollar. Or a very weak person becomes the president and squandered the countries wealth, then it will crash the dollar. |
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I think it is better to invest your money
but do not invest all your money, because an investment have a risk to lost your money.
Of course you do not invest all your money, you still need to eat. 20% of your total salary is a good start. If it is too small, save it first. And if it becomes a significant amount, enough to put into an investment, then start investing. The earlier you start investing the better. It takes time to make wealth. |
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