I think the view saving money is bit false.
If you are 50-60 and you got like $1 mill in the bank - you`ll be comfortable. But you`ll be kicking yourself in the ass for taking so long to even get there.
I'd rather save now and delay my gratification than spend now and regret later for not having anything for my retirement years. How many retired individuals have we seen go back to work even at their old age because they didn't save while they were still young and able? I worry about my future that is why I am taking steps now to avoid a miserable life for me and my family when the time comes that I'm not able to work any longer. The generation before us, their plan is to rely on their pension plans when they get old. I see some retiree living on pensions. Some of them survive a month in their pension but most of them don't. It is right that we should save for our future or for when we are old. But saving is not enough. There should be investments that earn passive income so we are truly secured even when we retire and not able to work anymore. |
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Dividing this ways of managing money we will not get a good resaults, better to try to use it gather, you saving part of money, other part of money you investing, easy.
i think there is no need to just go invest a small part of money, i think you should put as much money as possible into bitcoins because it is going to grow No one knows that for certainty. We all are hoping that to happen, but we are all not sure that that will happen for certain. All we can do is hope. And putting all your eggs on one basket is a bad idea, especially in investment. It is better to diversify or put your money on different investment so you can minimize your risk. That is the best way to treat your investment, do not be too overconfident in just putting in one investment alone, you need to divide your investment so you can minimize the risk and your investment will last if the others will not work. Matured people knows the method and that would prove that we need also knowledge not just luck in investing. You need luck in investing but what you need the most is the knowledge of the proper way in investing. Arm yourself with the right knowledge and you will be fine in investment. |
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if you know the potentially of bitcoin in future you will leave your realjob now and focus at bitcoin.
Wait, let me consult my crystal ball. Yeah, you are right, the future of bitcoin is bright. But still, if I can do both my work and bitcoin, I will. I will not leave the future of my family into uncertainty. |
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Dividing this ways of managing money we will not get a good resaults, better to try to use it gather, you saving part of money, other part of money you investing, easy.
i think there is no need to just go invest a small part of money, i think you should put as much money as possible into bitcoins because it is going to grow No one knows that for certainty. We all are hoping that to happen, but we are all not sure that that will happen for certain. All we can do is hope. And putting all your eggs on one basket is a bad idea, especially in investment. It is better to diversify or put your money on different investment so you can minimize your risk. |
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I doubt I will just let the coins sit in a paper wallet for too long if there is no movement in the price of Bitcoin. After all it takes money to make more money.
You are right. Holding is not the only way to make money in bitcoin. If you just look around, you will find a lot of opportunity that can make you more bitcoins. |
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Gambling was my answer before, gambling is my answer now. I tried almost everything else and most luck and profit I made with help of gambling. Everything else was disaster. If I would have 1000 $ I would rather put them in casino then in trading or some other service. In gambling at least I know how big risk I take, with everything else I just wait site to shut down, or owner to disappear with our money.
We will see how long this feeling is going to hold me, for now I don't see better solution to make more from my coins.
Good luck with that. I just hope you will not end up as a gambling addict and his life ruined because of gambling. There are already too many of that, I hope you will not add to the statistics. |
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The day I noticed you still work at a job - is because you are only meant there for temporarily to build something great while you notice your calling in life.
Trust me, no sane mind will would work at 60 years a company - unless they really comfortable with the salary they give..
Well in reality, there's people who work decades in McDonald's or other dead end job. I don't think they are comfortable with the salary, I don't think they're proud of their work as well. Maybe what you are referring to are people who actually has a degree and has an actual goal. If someone has none of either of these two, then they surely will end up working for a company for years with no promotion at all and won't even build something. In my case, I'm doing bitcoin to get the day job I want. I'm quitting bitcoin once the price shoots up or maybe even just after I graduate college. Maybe they are working on a dead end job the rest of their lives because they do want to get out of there. They do not dream big enough to try and get out of their jobs and do something that can improve their lives. We know stories of people who did not have a degree but became rich. It is because they want to be one. Those who do not want it or too lazy to become one will stick to their dead end jobs. |
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You can start by becoming an agent in real estate. You will be selling houses for big developers. You will earn good commission and you will have good experience. You can also test there if you are up to the challenge of real estate business. You do not need to start with big capital. Just be in the business so you will know you are build for that business.
Getting a job like real estate businessing or any other jobs like that is not possible for everyone, because only the ones who have some relatives or friends in such business can get these jobs as they can be recommended by them, othewise it is hard to find a job like that easily. A big no. I have colleagues who has no experience at all when doing real estate jobs and no such thing as known person associated with that kind of job but now living in lots of saved money. In any job, if a person really wants it they will become succesfull no matter what. And because they are doing well in their chosen jobs, saving the money is just a piece of cake to them. It just takes dedication and determination to be successful in these types of business. And also an eye for good real estates. People think that when you do real estates you have to have a large capital. That is only for rich people. They can start on the top. But for small fries like us, we can begin at the bottom by becoming sales agent and work our way up. |
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I think that my parents or friends should help me in this situation, or i will use bank in this situation, but anyway i hope i will not lose of money in future.
Actually that's the basic thing that you could do, but if you are already earning and capable of paying, I think it's a little awkward to ask help from parents, we all know that they too need money for their living. The same with friends, we know that they too might not have an extra cash...The best is to just make a loan on bank..  Banks will kill you with their high interest. If it is just a few hundred dollars, then it is better to loan from friends or family. Just be sure you to pay them the soonest time possible. It will be awkward if they start unfriending you on facebook because you do not pay debts. If it is just few hundreds, then it's good to just ask your friends, but if you are in desperate need, I think it is something big coz if it's not big like a few bucks, for sure you can handle it without borrowing.. Loans in lending companies or banks are the best instead of borrowing from a friend, you will always be in debt of gratitude to them, friends will also borrow money to you, what if you don't have, that's shameful, while in loans, you don't have to do the same.. That are friends are for. They will be there to help you in times of trouble and need. I am sure they will be willing to lend you some money if they are true friends. And I am sure you can help them back, if not financially, then on other things that they will be in need of help. It is not always money that you need, sometimes you just need a friend. |
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It will be very diffiicult to encourage offline store to accept bitcoin(BTC), Because we all know that it needs an active network connection for us to gain bitcoins. And I think the best way for the meantime to encourage them is we must use altcoins first as a tool for them to avail bitcoin. atleast in some other way we can use altcoins anyway for offline transactions it will depend on us how are we going to explain to them the benifits of it once it is converted into bitcoins.  I do not understand this. Are altcoins not using internet connection to make transactions? Why do you have to use altcoins to introduce bitcoin? In my understanding, altcoin and bitcoin are basically the same, only different model. IF you want to introduce it to merchandizers, introduce bitcoin to stores accepting credit cards. They already have the infrastructure needed for bitcoin transactions. |
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However it is not advisable to hold all your investment in forms of bitcoins as we can never ascertain the future. You only hold an amount that you can manage to lose and you could use your earnings here in this forum if you have a job by considering it as your savings and investment at the same so it would be less risky for you.
Saving and investing has almost the same risk , people just doesnt realize it yet. By saving your money in fiat you are actually exposed to inflation ( everyone is ) however in term of investing you are exposed to the risk that your investment could be losing its value the moment you blink your eyes I do not think that you will lose your investment that fast if you put it on the right investment. And I think saving is not that risky. It will keep your money intact. And I do not think inflation rate will not hurt that much if you will just hold your money for a few months or years. If you are saving bitcoin then that is also an investment because the amount of your saving will change its value from time to time, there is no safe way in bitcoin but the risk could be minimize while the reward can be maximize, that is the beauty of focusing your investment with bitcoin. That is true saving in bitcoin is an investment but we minimize the risk if we have a multiple investment and if we take higher risk investment we could get high return on your investment. It is always better if you put your money on multiple investments as they say. Do not focus only on online investments and venture also businesses and stocks. In my opinion, those are less riskier investments than online investments. |
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One must be brave to rely on Bitcoin for subsistence. You know, you never know where the price will go and the adoptable for the near future, things may be go bad and you may find yourself in a bad situation
That is why it is not advisable to earn a living with bitcoin, there will always be a downside, there will always come a time that you have to worry about your day to day living when you are earning it in bitcoin... Having a big ballz to earn a living with bitcoin and quit job without a savings, will result to a ruin life if you are getting short budget and interests from your debt will continue to pile up. Lets not fully depend on only bitcoin. Lets all keep this as a supportive source to earn money. A mainstream should be something else to avoid being empty. Even i am here to earn a bit every week for daily expense. I do not expect much. But whatever i have earned, i will be happy at it. At least i am able to earn a bit from a new source. Really i love btc for this opportunity. Thanks If you have a day job then be sure to always keep it that way. So when things go south with bitcoin, you are still earning from your day job. But if you can't get regular jobs, focusing on bitcoin is more profitable. It has a lot of advantages because you can just do it for part time and still earn a decent amount of money. You can spend the rest of the time learning new skills so you can be a better man. |
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I think that my parents or friends should help me in this situation, or i will use bank in this situation, but anyway i hope i will not lose of money in future.
Actually that's the basic thing that you could do, but if you are already earning and capable of paying, I think it's a little awkward to ask help from parents, we all know that they too need money for their living. The same with friends, we know that they too might not have an extra cash...The best is to just make a loan on bank.. Banks will kill you with their high interest. If it is just a few hundred dollars, then it is better to loan from friends or family. Just be sure you to pay them the soonest time possible. It will be awkward if they start unfriending you on facebook because you do not pay debts. |
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Can agree with people who saying that bitcoin is better than cahs, for using as currency cash is really much better that bitcoin and also much esier.
well cash is really easy to use right now, though i think that in the future bitcoin will be way easier to use and thats why im holding bitcoins if you are just buying small stuffs then cash is better. but if you are holding a lot of it, it is already too bulky. It is better if you have bitcoins or debit card. You do not have to carry stuffs around, just your cellphone. And that is normal because you always carry your cellphone with you. |
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If you have a family ,it will teach you how to save money for your future. But if youre single and dont have any plans for the future you will not know what is the meaning of saving if your totally have nothing.
Best way to save money is to invest in something later that you are worth it. If you have money in cash easy for you to spend it on some unimportant things. I also think it's a very good thing to invest money in real estate, rent and real estate for several years, then sell it again and be positive. but real estate need lots of money to invest. you can't even buy a peace of land with thousands of dollars. but if you have lots of money then probably yes. real estate is a way to safe your money. because paper money won't be safe for long. buying real state will safe your wealth for long time. and buying gold is also a good way I guess. Well, for me, that was really my dream to have a real state business but my current status now won't allow me yet to do that business, I am just a simple man having a day job and have work also here in the bitcoin community, I just hope I can save now and invest with bitcoin so I can make my goal in the future. You can start by becoming an agent in real estate. You will be selling houses for big developers. You will earn good commission and you will have good experience. You can also test there if you are up to the challenge of real estate business. You do not need to start with big capital. Just be in the business so you will know you are build for that business. |
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However it is not advisable to hold all your investment in forms of bitcoins as we can never ascertain the future. You only hold an amount that you can manage to lose and you could use your earnings here in this forum if you have a job by considering it as your savings and investment at the same so it would be less risky for you.
Saving and investing has almost the same risk , people just doesnt realize it yet. By saving your money in fiat you are actually exposed to inflation ( everyone is ) however in term of investing you are exposed to the risk that your investment could be losing its value the moment you blink your eyes I do not think that you will lose your investment that fast if you put it on the right investment. And I think saving is not that risky. It will keep your money intact. And I do not think inflation rate will not hurt that much if you will just hold your money for a few months or years. |
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I have lent some money to HaoBTC. The interest rate is about 8%. It is not high, but I get some income.
thats a really big profit to be honest though i dont like lending my money because i think it might be not safe at all and i dont like risking my money yeah he might lose all the money he loaned out, the person might just steal it, besides that it depends on how long is the sum loaned out for He will not lose it if he have a good collateral for the loan. Even if the person run away with the bitcoin, the collateral will cover for the loss. But I think, 8% interest is still low. Maybe 10 to 15 percent is a good interest. |
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If you go full time on Bitcoin then your life will be put in risk and that is because you never know what will happen with the Bitcoin and that is the problem of the currency.
It will be much better if you have just a daily job and see Bitcoin as a bonus or something.
I think we are past now from bitcoin being unstable and risky. Bitcoin users are continuously growing and bitcoin value is becoming more stable each day. Companies are starting to adopt it too. So, if we ever plan to switch jobs and plan to go full time on bitcoin, I think it is very viable. |
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As Bitcoin is used anonymously i think it's hard for governments to impose tax for using it
But many users exchange their bitcoins to fiat which is under the tax laws
Government can chase the exchange sites and tax them accordingly. But I do not think that individual bitcoin users can be taxed. As long as you can keep it a secret, they can never know how much you are earning from bitcoin. We are all safe from government tax, i hope. |
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If you're holding a bitcoin debit card, then accepting your salary in bitcoin would be more beneficial than getting it in fiats as of now. Because, in my case I am converting my salary into bitcoin for my saving and for gambling spending. If I do directly get bitcoins that would save more time for me which is usually occurring with conversion.
Not only you save your time, you also save from fees on every conversion you have to make. Plus sometimes on exchange, the price is of bitcoin is higher than it really is. So, you can add that to your savings. Directly receiving bitcoin as salary has advantages especially if you are spending bitcoins directly. |
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