Becomes harder and harder to hold on...

[BTC Turkiye]

I had been trading and doing bunch of other things in crypto as a hobby. But When BTC hit 15-20k I decided that I should become a company, pay my taxes and provide for my family in crypto. It worked out well for couple months. But right after I became a company, BTC went down pretty bad and it`s been gradually going down since then. So I can`t really provide a life through crypto anymore. The last 3 months, I made less than half of what I made in November, December, an January. Don`t get me wrong. I strongly believe in Crypto and am an early adopter. I love the volatility, the community, the cause and the technology. But I have to pay my bills and I don`t wanna look for a job again. So here`s what I~ve been doing so far...

1- Currently I have 2 different bots running which neighter of them really makes money at all. Because they`re still at the trial stages and I`m not sure if it`ll ever work out or not. So I can`t put so much money in them.

2- I tried arbitrage for a while but there`s not much of that anymore. Even if you can find an opportunity, you either have to risk tons of money (in 6 digits) or you have to wait in a low volume market to see if anyone buys your high sell order. So the arbitrage doesnt really do anything anymore either for little people like me.

3- I`m still manually trading between 3-4 main currencies but as you know no coin is going high against dollar nor BTC. So I just buy and wait... then it goes down even more. I just don`t know how long is this downtrend going to stay? If it goes for another month, I will have to look for other options, other than crypto to provide for my family and pay my bills.

4- I made pretty good money on the airdrops during Nov-Dec-Jan but now that market is suffering too. Based on a pretty recent study, 85% of the ICOs are scam. 12% of them barely have actual coins and only 2 something percent of them actually goes into an exchange and become dumpable. As we all know almost all new coins suffer on the value. So there`s almost no opportunity in airdrops and forks anymore either.

5- I have a Facebook group with 50k members which brings in a small income from ads. But that amount wont even pay one bill.

So I`ll greatly appreciate if anyone gives any advises on what other ways out there in crypto world to money off of?
Now, I should mention that I have morals and ethics. I won`t scam people, create ICOs, do any kind of fraud, participate in any kind of "adult" project.

Thank you Bitcoin Community for always being there through thick and thin

[OmegaStarScream]

If you're familiar with coding or willing to invest, I suggest creating a website or an app that people would like to use. You could start by asking what kind of services people want in the project development section. (It could be CoinMarketCap v2.0, It could be a bounty platform etc.)

[BTC Turkiye]

I`m a software project manager. I don`t code myself but but I get a team to work on a project to deliver it means, that`ll be just another risky investment of time and money.

[Kakmakr]

You should gather a small team of coders and develop some kind of software that would help newbies to buy/trade Crypto currencies. You can even combine that with a small investment company that gives online trading advice and training or invest Crypto currencies on behalf of other investors that does not want to be hands on.

There is a huge untapped market out there of people who wants to invest in Crypto currencies, but who lack the knowledge to do that or those who wants to be invested, but do not want to take the time to learn about Wallets & exchanges and what not....

What do you think, will you be able to handle that as a Project manager?

[emmybd]

The situation has been tough in the market for some time, as the downward trend has been continuing for a long time, so not many people can make profit in the market now. A lot of people have been holding and it is getting harder day by day.

[Pursuer]

from what I understand from your post here I think you also suffer from the most common problem that people usually have  during pumps. you buy any altcoin (even a shot in the dark) in 2017 and you make profit and that makes you think you can earn money from this market and sometimes even leads to believing you are a "trader". where in fact what happened was that you made a bet and you got lucky and your gamble turned out good. now you are making the same bets but you are out of luck so your are losing money.

specifically this part:
"So I just buy and wait... then it goes down even more".

this is a downtrend for all the altcoins that have been extremely pumped last year. they won't come back for a long time, even if bitcoin starts rising again. meanwhile there are lots of other altcoins that either weren't pumped as much or they were pumped but they also were dumped just as hard so they were at the bottom and now they are experiencing another big pump. you can invest in those.

[BTC Turkiye]

You should gather a small team of coders and develop some kind of software that would help newbies to buy/trade Crypto currencies. You can even combine that with a small investment company that gives online trading advice and training or invest Crypto currencies on behalf of other investors that does not want to be hands on.

There is a huge untapped market out there of people who wants to invest in Crypto currencies, but who lack the knowledge to do that or those who wants to be invested, but do not want to take the time to learn about Wallets & exchanges and what not....

What do you think, will you be able to handle that as a Project manager?

I definitely can. But I can`t invest money in that. I`m willing to do it for a company though. I`ll be really good at it and I`ll enjoy it a lot for sure

[Haxor321]

In what the situations we have in the market which is we are long time experiencing downfall, we can't disregard the fact that day by day we think that it's already hard to hold because if there's a chance that we experiencing pump for sure it's been a short period of time compared in the time that we experienced dump. It is very hard specially to the small investors because day by day their investment are actually decreasing and it's very hard to think that.

[rumexx]

If you can try mining for bitcoins or ethereum. Though mining is capital intensive but it is also profitable and better than what you are presently doing. Good luck to you.

[vickybitcoin]

The situation has been tough in the market for some time, as the downward trend has been continuing for a long time, so not many people can make profit in the market now. A lot of people have been holding and it is getting harder day by day.

True, every passing day is like a scrouching fire especially for those who are loosing their capital...Right now everybody is actually feeling low and its really rough. Eventhough I still hold on and I believe we can still see better days soon.

[avikz]

I had been trading and doing bunch of other things in crypto as a hobby. But When BTC hit 15-20k I decided that I should become a company, pay my taxes and provide for my family in crypto. It worked out well for couple months. But right after I became a company, BTC went down pretty bad and it`s been gradually going down since then. So I can`t really provide a life through crypto anymore. The last 3 months, I made less than half of what I made in November, December, an January. Don`t get me wrong. I strongly believe in Crypto and am an early adopter. I love the volatility, the community, the cause and the technology. But I have to pay my bills and I don`t wanna look for a job again. So here`s what I~ve been doing so far...

1- Currently I have 2 different bots running which neighter of them really makes money at all. Because they`re still at the trial stages and I`m not sure if it`ll ever work out or not. So I can`t put so much money in them.

2- I tried arbitrage for a while but there`s not much of that anymore. Even if you can find an opportunity, you either have to risk tons of money (in 6 digits) or you have to wait in a low volume market to see if anyone buys your high sell order. So the arbitrage doesnt really do anything anymore either for little people like me.

3- I`m still manually trading between 3-4 main currencies but as you know no coin is going high against dollar nor BTC. So I just buy and wait... then it goes down even more. I just don`t know how long is this downtrend going to stay? If it goes for another month, I will have to look for other options, other than crypto to provide for my family and pay my bills.

4- I made pretty good money on the airdrops during Nov-Dec-Jan but now that market is suffering too. Based on a pretty recent study, 85% of the ICOs are scam. 12% of them barely have actual coins and only 2 something percent of them actually goes into an exchange and become dumpable. As we all know almost all new coins suffer on the value. So there`s almost no opportunity in airdrops and forks anymore either.

5- I have a Facebook group with 50k members which brings in a small income from ads. But that amount wont even pay one bill.

So I`ll greatly appreciate if anyone gives any advises on what other ways out there in crypto world to money off of?
Now, I should mention that I have morals and ethics. I won`t scam people, create ICOs, do any kind of fraud, participate in any kind of "adult" project.

Thank you Bitcoin Community for always being there through thick and thin

One question to you! Since you had formed a company during late 2017, what was the product of your company? What was the services of your company? Did you create a company without any of these? If yes, then it is a mistake. No company survives without a service or a product. I still earn in bitcoin and other cryptos but I didn't form a company because I don't provide any services or sell any products to the community. My earning solely depends on my trading capability.

Try to look for a job because that is the only way out I can see for you. You can have all these crypto things as a secondary source of income and must not rely as the primary source. I know a couple more people who has done the same mistake in their life by going full time on cryptos after leaving a well paid job.

Get more involved in the bounty and airdrop market as it is not dead yet. Obviously there are many fake companies are present in the ICO market but since you have to pay your bills, don't hold any tokens that you get from the bounties. Receive and sell it all, it will help you to have some liquidity. If you wait for longer with the hope of price increase, you may not get the desired return. I ended up with a lot of dead coins in my wallet just because I wanted to wait for the price increase. The ICO disappeared and got delisted form the market. But initially for few weeks, they were traded in the market and if I calculate now, I could have received around 3 ETH from these dead coins if I didn't wait for price increase and simple have dumped it. 

Don't stop trading as it is the best thing you can do to have a stable source of income since you don't have a job. Shit happens with everyone. Strong man stays and fights and rest gets wiped off. All the best!

[Masha Me1]

Yes, perhaps, I do not argue that somewhere in the hard but in any sphere of the toli of business, toli of other moments is always as good and difficult, it is life, the main thing is to know what you want and to your goal

[BTC Turkiye]

Thanks everyone for your feedback, support and your comments

One question to you! Since you had formed a company during late 2017, what was the product of your company? What was the services of your company? Did you create a company without any of these? If yes, then it is a mistake. No company survives without a service or a product. I still earn in bitcoin and other cryptos but I didn't form a company because I don't provide any services or sell any products to the community. My earning solely depends on my trading capability.

We have a range of services from consultation to training on trading, arbitrage, mining, airdrops claims and training and so on. But let me tell you why you should also become a company even if you don`t have services. Because right now you`ll be paying %38 capital gains tax. But when you`re a company your capital could be considered an inventory and if you register your company in a state where there`s no income tax, plus the lower corp taxes combined your percentage goes down to about 20-25%. Plus s-corp companies has no taxes on dividend distrubutions. I`m not even mentioning the things you can deduct as business expenses on your tax return. So believe me I made my research pretty good before launching a company

[vv181]

I`m a software project manager. I don`t code myself but but I get a team to work on a project to deliver it means, that`ll be just another risky investment of time and money.

That's great. Just find an opportunity that in the cryptocurrencies scene lack off. Cryptocurrencies community will grow rapidly over time. Find the current weakness in the cryptocurrencies scene, then make a platform for it. As an example, in my opinion, a lot of cryptocurrencies platform is lack of easy and good UX design.

[BTC Turkiye]

Easier said than done. Each project means another investment of time and money plus risk.

[naughty1]

I`m a software project manager. I don`t code myself but but I get a team to work on a project to deliver it means, that`ll be just another risky investment of time and money.

If you are a software project manager, I think you can participate in many different projects as they begin to develop and develop independent software for each project. Or perhaps I think too simple

Easier said than done. Each project means another investment of time and money plus risk.

Success will not come to those who just walk on the safe road.

[fortunecrypto]

The situation has been tough in the market for some time, as the downward trend has been continuing for a long time, so not many people can make profit in the market now. A lot of people have been holding and it is getting harder day by day.

I have seen this scenario before early this year when Bitcoin drop to $6000 level but it managed to bounce back and I'm sure some people made money out of this, it is not yet over history proves that it is still worth holding your coins, it's just a matter of time anyway the ber month is coming we'll see how the market performs.

[dothebeats]

Your situation reminds me of not going full steam in a rather uncharted and risky road. Back when everyone is rejoicing because we reached a rather impossible milestone, I questioned the strength of the said rise and began selling little by little until I sold everything @ Dec. 11. I never thought of risky moves, never thought of being greedy, just saved something for myself in case it blows up. Then the unthinkable to most people happens, the bubble deflated, and massive selloffs were happening left and right. Most startups who established during Nov-Dec already faced losses, and like your fate, slowly sank to the bottom once more. Given that you already have the guts to invest and risk money, why not look for something to invest at IRL like stocks? Or better yet, create a business in which most people need in your local; I started a printing business not too long ago and the income is able to support me and my family for almost 2 years, and the funds I used to establish it came from crypto. Just study what your local populace need and try to create a feasibility plan before risking money again. It happens even to the best of investors too, you only need to be focused on your goals and never give up.

[darkangel11]

Honestly, I think that you're expecting too much. You've experienced the recent huge pump and became used to the situation where you don't have to do anything and the money flows right into your pocket. Why do I think so? Because you wrote this:

3- I`m still manually trading between 3-4 main currencies but as you know no coin is going high against dollar nor BTC. So I just buy and wait... then it goes down even more. I just don`t know how long is this downtrend going to stay? If it goes for another month, I will have to look for other options, other than crypto to provide for my family and pay my bills

To me this means that either you don't know how to trade, or you are earning but expect much higher gains. For instance, there was a huge opportunity in February. You could buy between 6 and 7k USD and sell at 10 or 11k. This opportunity actually appeared twice (once in February and once in March). Then again there was a drop to 6400 and a pump to 10k  a month ago. Even if you had 1 BTC and decided to always buy at around 6k, you could've made 8k USD in the last 4 months, which isn't bad, especially that we're talking about a single trade per month. So, don't say it's constantly going down and not allowing you to make money. That's bullshit.

[Ike.daniel]

I believe with time, bitcoin and other cryptocurrencies will regain their stand.