Will you quit your day job to go full time on bitcoin?

[Amph]

already done that my day job is signature campaign lol, job kill your life, with signature i can earn comfortably at home without paying any taxes on it, because i'm not selling bitcoin or anything, this is the best part of it

being payed directly in bitcoin with those kind of activity is fantastic

But when you want to buy something with it what are you going to do?
Say for example, that BTC goes to 10K in the next years and you can afford a nice car or real state.
How can one buy that with BTC without getting it taxed?
When they ask where the money comes from what will you say? it came from "sig campaign?" i ask because a friend made a lot of money mining and a little with sig campaing too and is on the same boat. Has never sold or bought with fiat so goverment has no idea that he owns a couple thousands in BTC.

bitcoin can't go to 10k without rising its usage all around the word, i mena there isn't a thing like bitcoin will have a high price but it's still not mainstream, those two thing go together

so at 10k, it's very likely that many shop will already accept it, and aside from this there is open bazar coming, or if you prefer to use them now without dumping there is all4btc/purse.io

Yeah but he's talking about buying something serious like a vehicle or a house, not some videogames. How are you going to buy something like that without setting the IRS alarms on?
You may be able to directly buy a car and a house with BTC directly in the future (in fact you can now) but how are you supposed to avoid taxes anyway? you have to declare your properties.

well besides an house there isn't anything big enough that interest me, car? i don't care i prefer to use bicycle it keeps me in shape, everything else is so small that will not alarms taxman

[agustina2]

No I will not left my job. Because my job gives me an earnings of about 2btc / month which I don't get in bitcoin. Yeah small but much better than doing a bitcoin method everyday. I will treat bitcoins earnings as my side earnings.

[aakashsangwan]

I'll never quit my day job for Bitcoin.
It is just a child and still have to face major ups and downs.

[harizen]

Well maybe if I will find some stable methods that will grow my bitcoin much higher than my monthly salary. But it will take some time to happen. I love my job and officemates

[Za1n]

I am sure it has crossed everyone's mind here at one time or another if they could make a living strictly off bitcoin and/or bitcoin related activities. I think for most people it is wise to continue to accumulate bitcoin while working at another job for the time being. Maybe in another 2-3 years bitcoin will be at the point you can make full-time income off of it, but for now the price is relatively low ~$300, that I think you would be better off saving those bitcoins until it is above $1,000 again.

I know people who post on this forum are from all of the world, each with different ideas on what a sustainable income is, but where I live in the US it would require an income of at least 20 BTC a month just to make ends meet, and that is scraping by. A more realistic number might be 30-40 BTC a month. Anyway, at even 20 BTC a month, if you worked elsewhere and could still accumulate that much BTC for 2-3 years, your would have 720 BTC. If the price would also hit $2,000 by then, you would have a little over $1.4 million. If you spend the same 20 BTC a month instead on living expenses for those 3 years, you would have very little extra BTC.

[Amph]

already done that my day job is signature campaign lol, job kill your life, with signature i can earn comfortably at home without paying any taxes on it, because i'm not selling bitcoin or anything, this is the best part of it

being payed directly in bitcoin with those kind of activity is fantastic

But when you want to buy something with it what are you going to do?
Say for example, that BTC goes to 10K in the next years and you can afford a nice car or real state.
How can one buy that with BTC without getting it taxed?
When they ask where the money comes from what will you say? it came from "sig campaign?" i ask because a friend made a lot of money mining and a little with sig campaing too and is on the same boat. Has never sold or bought with fiat so goverment has no idea that he owns a couple thousands in BTC.

bitcoin can't go to 10k without rising its usage all around the word, i mena there isn't a thing like bitcoin will have a high price but it's still not mainstream, those two thing go together

so at 10k, it's very likely that many shop will already accept it, and aside from this there is open bazar coming, or if you prefer to use them now without dumping there is all4btc/purse.io

Yeah but he's talking about buying something serious like a vehicle or a house, not some videogames. How are you going to buy something like that without setting the IRS alarms on?
You may be able to directly buy a car and a house with BTC directly in the future (in fact you can now) but how are you supposed to avoid taxes anyway? you have to declare your properties.

well besides an hourse there isn't anything big enough that interest me, car? i don't care i prefer to use bicycle it keeps me in shape, everything else is so small that will not alarms taxman

Well, how are you going to pay a house then?
And again like some other posters said, even if you buy directly with BTC, customs may inspect the package and see you are paying in BTC, if they see this on repeated times it may raise an alarm because you aren't taxing any of that money.

this is true, but usually i prefer to not order materials from outside of europe union, exactly because i want to avoid controls from customs, if you order something in eu, they will not check anything tnx to the europe union

i believe that if you're someone with an house already you can conduct your life buy paying anything else that does not cost too much like food or small HW, with bitcoin without paying taxes, but in any case it's better to stay under a certain amount per year

[faridkifly]

No.
In my opinion, having a real job and doing bitcoin as a part time job is the best way

[neutraLTC]

No.
In my opinion, having a real job and doing bitcoin as a part time job is the best way

It is sad that people consider "doing bitcoin" to be day-trading or clicking on faucets. To me, "doing bitcoin" means working full-time at a Bitcoin start-up.

That's what i'm saying, finally someone who thinks similar to me.

[CryptyMike]

No.
In my opinion, having a real job and doing bitcoin as a part time job is the best way

It is sad that people consider "doing bitcoin" to be day-trading or clicking on faucets. To me, "doing bitcoin" means working full-time at a Bitcoin start-up.

That's what i'm saying, finally someone who thinks similar to me.

Agreed. And Bitcoin isn't accepted enough to be a trader in it. Technical Analysis in many ways is one massive self fulfilling prophecy, that if enough people follow the same rules and believe in those rules it will work to an extent. A support line, is not "real" and there are not enough people trading for TA to be true as often as in larger stocks or FX.

That being said, Bitcoin is far from saturated in terms of business and innovation. There is enough BTC around to capture part of the niche and make a living if you have a successful startup going.

[AtheistAKASaneBrain]

already done that my day job is signature campaign lol, job kill your life, with signature i can earn comfortably at home without paying any taxes on it, because i'm not selling bitcoin or anything, this is the best part of it

being payed directly in bitcoin with those kind of activity is fantastic

But when you want to buy something with it what are you going to do?
Say for example, that BTC goes to 10K in the next years and you can afford a nice car or real state.
How can one buy that with BTC without getting it taxed?
When they ask where the money comes from what will you say? it came from "sig campaign?" i ask because a friend made a lot of money mining and a little with sig campaing too and is on the same boat. Has never sold or bought with fiat so goverment has no idea that he owns a couple thousands in BTC.

bitcoin can't go to 10k without rising its usage all around the word, i mena there isn't a thing like bitcoin will have a high price but it's still not mainstream, those two thing go together

so at 10k, it's very likely that many shop will already accept it, and aside from this there is open bazar coming, or if you prefer to use them now without dumping there is all4btc/purse.io

Yeah but he's talking about buying something serious like a vehicle or a house, not some videogames. How are you going to buy something like that without setting the IRS alarms on?
You may be able to directly buy a car and a house with BTC directly in the future (in fact you can now) but how are you supposed to avoid taxes anyway? you have to declare your properties.

well besides an hourse there isn't anything big enough that interest me, car? i don't care i prefer to use bicycle it keeps me in shape, everything else is so small that will not alarms taxman

Well, how are you going to pay a house then?
And again like some other posters said, even if you buy directly with BTC, customs may inspect the package and see you are paying in BTC, if they see this on repeated times it may raise an alarm because you aren't taxing any of that money.

this is true, but usually i prefer to not order materials from outside of europe union, exactly because i want to avoid controls from customs, if you order something in eu, they will not check anything tnx to the europe union

i believe that if you're someone with an house already you can conduct your life buy paying anything else that does not cost too much like food or small HW, with bitcoin without paying taxes, but in any case it's better to stay under a certain amount per year

If you hold some BTC for a decade+ you can be a potential millionaire. Are you saying you wouldn't be tempted to buy a better house? what's the point of being a millionaire if you can't use your wealth beyond groceries and a gaming computer? lol.

[errornone]

bitcoin is one of my hobbies/peasures.

[apriyani420]

no, never because it will be possible to receive the payment for your job in bitcoins in the future i believe, also i would never quit job and go work somewhere i dont know if i will receive money all the time

[manselr]

no, never because it will be possible to receive the payment for your job in bitcoins in the future i believe, also i would never quit job and go work somewhere i dont know if i will receive money all the time

Well, something is clear. With the state of the current economy, having a job doesn't mean a guaranteed wage. You see the percentages of temporal jobs being bigger and bigger vs permanent employment, so that's something to consider. In some countries the big majority of jobs are temporal contracts only which means you may end up fired at any given point in time.

[jeannemadrigal2]

If I ever get enough money, then yes I would go full btc.  But I think that the success of the early adopters may not be repeated again so spectacularly.  I think I can do ok, but I doubt I will become a millionaire from it.

[Mickeyb]

Are you inspired by those bitcoin millionaires? Are you thinking of filing a resignation letter on your day job (if you have any) and focus on bitcoin instead?

Me? I do have a day job and I consider bitcoin as my side job. I don't want to lose that another source of income just because bitcoin is awesome.

Not yet mate. I don't have enough at all. If I was one of the early adopters with 10,000+ coins then yes.
But unfortunately I am not. On the other side, if BTC goes to $20,000+ I might consider retiring completely and start working fully on this beautiful technology!

[Paashaas]

But I think that the success of the early adopters may not be repeated again so spectacularly. 

You will be shocked, if you buy now you're a late early adopter. Only ~0.05% of the world are using Bitcoin, if this tech goes mainstream..even a shameless 1-5% makes you very wealthy.

The way it looks atm, BTC will get there.

[CryptyMike]

But I think that the success of the early adopters may not be repeated again so spectacularly. 

You will be shocked, if you buy now you're a late early adopter. Only ~0.05% of the world are using Bitcoin, if this tech goes mainstream..even a shameless 1-5% makes you very wealthy.

The way it looks atm, BTC will get there.

I still think it is less than .05% of the population, that would be about 3.5-4million people. I think we are still at 1-2million range. Either way, I think at one time we will hit 1-5%, just a matter of time and proper marketing. We need a damn mainstream TV commercial, and other major avenues of media. The Bitcoin Foundation has raised enough money for this at one time...why did we not do this?

[errornone]

If I ever get enough money, then yes I would go full btc.  But I think that the success of the early adopters may not be repeated again so spectacularly.  I think I can do ok, but I doubt I will become a millionaire from it.

it depends on how much btcs do you have at the moment...

[errornone]

The Bitcoin Foundation has raised enough money for this at one time...why did we not do this?

it is not the time.

Bitcoin needs to mature. Needs better apps, needs to be user friendly.

[knowhow]

there is already some living from bitcoins the first owners of bitcoin,and the dream keeps alive there is always options to live from bitcoin,can be an exchange any other project related with bitcoin,as can be a full investment into it ,there is a huge potencial and the best way to make money is currently bitcoin invest today and all the week an option to get 5 ,10% returns in small orders...if i could i would live from bitcoins only