BITCOIN misconceptions

[el kaka22]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

You are the one here having such belief. Firstly, only an unreasonable person will have a very good and well paying job, leave it and start living on campaigns. It is not even realistic.

It is possible some people may be getting an extremely low pay and then decided to switch to making use of the campaigns instead or using their skills in a way to get to work and earn bitcoin rather than giving the whole time to a job that does not even pay them that much.

In situations like this, they will live and practically sustain themselves, so you cannot expect them not to withdraw some of what they have. After all, it is more like working and taking a few percentage of it out to purchase bitcoin.

[Eternu]

I agree with you when you said it is better to keep Bitcoin and wait for price to grow, so that we can earn more money that way. But don't forget that Bitcoin is currency, and that we are suppose to spend it. Also there are those who need that Bitcoin income now, for bills or some other things. I also agree that leaving job because of Bitcoin is wrong, but if it works for that people who are we to argue...

[marjoree]

It is really the most reason of all the people here and thats no ones fault because thats what we really get from campaigns but its their choice if they spend it right away but it is really the best if its saved first because bitcoin price will rise up and do investments

[miyaka26]

Your opinion is correct however you can treat bitcoin also as a currency because it is a currency just in the digital, don't just finish the line with just an asset and investment even it is fluctuating in the market because you can buy with it, stocks in market can consider an asset and investment because you can't just spend them quickly for everyday use.
I can't blame people who chose crypto over their job if the pay is good then so be it, some of them make bitcoin as a sideline so expand your opinion for that don't just focus on them.

[Kevondo]

They could definetly sell their cash for bitcoin, but if they can earn more by doing a sig campaign, then why not do it? and i don't think many people here, especially in this foum, are spenders. I would say a majority of the users are long time holders who seek to maximize their bitcoin profits in the long term by getting paid in btc. Besides, you also learn a lot about bitcoin by doing a sig/twitter/blog campaign, certainly a lot more than any other job you could have (unrelated to cryptocurrency), so that's also a big motivation.

The cash was important in the past for the shopping but n0ow the bitcoin is the most important and the most demanded currency of the ear in the past the citizens were using the money as to start the business and the money but now it is the modern era and the people are aware of the bad and the good of the high increment, the price of the bitcoin is increasing so buy the bitcoin and then take the benefit of the high profit.

[frowsiter]

That's really personal thing to spend or save the bitcoin in first place. I mean people are here to earn the money and some of them are living out of it so it's important for them to convert the bitcoin into fiat currency. That's because they might be not thinking the way investors think! But there is also some portion of people who are real investors like me or may be you who think the bitcoin in different way. That's opportunity for us to grow the wealth and secure our future with it. That's why it's completely okay for everyone to choose the path.

[audaciousbeing]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

I won't say its misconceptions rather would say understanding. The cryto industry which bitcoin hold significant fort, is free to be understood by different groups of people achieving the same objective which is ensuring the continued popularity of bitcoin.

While the group who believes holding bitcoin as a store of value, are contributing to ensure that there is no flood of bitcoin in the market that would then drive the price downwards.

For those who are buying and selling, they are also contributing by ensuring that bitcoin is available in the market for both new entrants and those in the earlier group to have something to keep in other to meet their own objective.

[ALT67890]

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday?

This is not true at all. Most people I encounter here are actually advocates of HODLing. Although I guess spenders aren't too uncommon either. Pretty much everyone here knows the potential gain of holding.

I have to agree at this one. Even Op has the right evaluation or observation on some point that generalisation of how the members think or act maybe inaccurate.

Mostly and even I, look bitcoin as an asset as Op said. Maybe your talking about some who do Signature/bounty campaigns who are online everyday. We can’t also blame the majority if they go unemployed to focus on bitcoin. Maybe because they’re daily earning is not worth they’re hardship.

[orions.belt19]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday?

You cant blame them. Campaigns here in forum is so promising that they can earn more than their day job offers. And most of the people in the community are freelancers that seeks job and will spend what they are earning here to sustain daily needs and house utilities.

They are put in a situation which forces them to treat earning bitcoin as a source of income because it is more profitable than their actual jobs. A lot has testified that they're earnings from the signature campaigns has helped them more than what they have earned from their regular jobs.

I agree with OP that it should be treated as an asset instead. There is great potential for bitcoin and it would be more profitable if they invested in it instead, however we can't blame those who sell bitcoins for income. Their situation makes them do so, and they need to sell their coins so that they have money to spend on their expenses.

[Kotone]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

Bitcoin is not a financial solution whetein once you get in would instantly change and you would be a millionaire. Bitcoin is somethig that needs to be worked on constantly and should be able to not be quickfix. It involes lot of risks and investment before you get big.

[Undermood]

Some people earn money in real life works and some people choose to work online get get paid in btc or any other crypto currencies.
There is no problem in here. So Freedom will find the best way.

[BlueStackz]

it's right of them and it's not wrong, their regular income is less than in this forum so it's very clear to leave it and join the campaign in this forum.

There is hardly any doubt in this thing that one can earn a very handsome amount of money and that by joining this signature campaign. As far as misconception regarding to that of bitcoin is concerned, the most common misconception amongst the people is that bitcoin is not like paper money and we cannot use it anywhere in the real world.

[KEPLER99]

Even if its meant to be a currency, the price appreciation and the way it is being treated in the market have made it of more use as an asset and not a currency, unfortunately. Plus, the link to the dark web has taken root as the primary view in the mainstream media, so those accepting btc as a currency too would think about that. In 2014, a lot of vendors started accepting btc, but they closed it in 6 months because people were barely paying using btc. All these combination of factors have made it what it is today.

When bitcoin was innovated it was just a replicate to the cash currency and now people really turned out its meaning it is now source if profit now and is mainly used for the investment purpose, that’s also right thing but we dint have to forget its basic idea and thanks to the stores who are accepting bitcoin as payment they are making it to count in currency so that one can spend also,

[StarofBTC]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

You’re right – most of the people in this forum doesn’t seem to understand anything about bitcoin – they see it as a Currency (real money) where as Bitcoin is not, but an asset for investment. We should be seeing bitcoin as gold, and not as a currency. And we shouldn’t just quit our main jobs because of it, let it be a side job, unless you’re hired by a Bitcoin company that will pay you a similar amount or more than you’re getting paid monthly from your regular job.

[amaral1977]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

I wrote this before and i agree with you. Don´t know if for the same reasons, but in the end i don´t forsee BTC as a currency but i believe in it as a store of value asset. It has some drawbacks as a currency, that would make it a good asset.
 - Slow and expensive transations: bad for a currency, but not that relevant when storing value.
 - Scarcity: Will encourage volatility and price growth. Not good for a currency, very good to store value.
 - Privacy and fungibility (Lack of): Definitely very bad for a currency not that bad to store value if it comes from legit sources.

The list could continue.

[Nisharawal]

It all depends on people's interest whether they need to quit their day job and focus on this forum's campaign or should they work on both options. By the way the signature and bounty campaign's are capable of giving good income, which is double of what you get from your day job, then why should not people go for it, in fact i recommend people to focus on campaigns than their day jobs.I don't feel people in this forum are spending their bitcoins everyday, instead i have seen people holding them. People love to hold bitcoins rather than spending it everyday or using it for day trading.

[Gozie51]

It all depends on people's interest whether they need to quit their day job and focus on this forum's campaign or should they work on both options. By the way the signature and bounty campaign's are capable of giving good income, which is double of what you get from your day job, then why should not people go for it, in fact i recommend people to focus on campaigns than their day jobs.I don't feel people in this forum are spending their bitcoins everyday, instead i have seen people holding them. People love to hold bitcoins rather than spending it everyday or using it for day trading.

If bitcoin earnings is greater than someone's job,  off course they would tilt towards leaving there job but they also have to feed.
When they don't have money , they are bound to survive with the bitcoin earnings because you can't have money and decide to die in Hunger.

[Haynes]

I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.

Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.

yes your idea is very good. perhaps for those who still spend bitcoin money every day is not aware of it.
I myself am still a "bounty hunter" and I have a goal, from the results of this bounty hunter I will use some to invest because I know this is important for my future. but now we also need to meet the needs of our lives hence than in addition to investment, bitcoin is also used for that matter. thanks..

[Hexah]

Definitely, they misunderstood how it should be that it should be an asset because I know also that it's will be high-rise and it is really possible to happen. Well, we can't control how do they plan to do on the bitcoins tjey earn from here or anywhere else it should be on their decision if they want it to grow or not if they plan it ahead. I think those who spend it for their daily use have purpose for that I just never judged them but I think it would be better to all if we just respect their individuals decision.

[Siopao]

Maybe those people who spends bitcoin immediately are really in need and uses bitcoin to survive for everyday living, but for me it is wiser to hold bitcoin so you can have investment for the future. A better strategy would be spend portion of it (if it is really needed) and hold another portion, even a small amount can accumulate in time that way you can also invest.