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Author Topic: Earning Bitcoin is good, but don't depent on it.  (Read 22901 times)
Coolcryptovator
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January 08, 2019, 02:23:34 PM
Merited by dbshck (4), S_Therapist (4), LoyceV (2), bones261 (1), Ziskinberg (1), bitart (1), btcdevil (1), TusharMali99 (1)
 #1

I believe whoever on this forum somehow he is connected with crypto-currency. And all crypto-currency surrounded by Bitcoins. There is lot of way to earn bitcoin like trading, gambling, lending, bounty and so on. This is great opportunity that Bitcoin give us many way to earn from online.

I have seen few topic on forum lately that few people's are want to leave crypto-currency due to continue bear markets. They are finding job or whatever. That's why my topic title is earning Bitcoin is good, but don't depend on it since most of we are not whales.

Beginning of 2017 people's was happy up to end of year. Few people's left his job as far as I know only by depend on Bitcoin. The thought was Bitcoin will make them millionaire. That's not wrong it will happen once a day. But totally depend on it is sign of stupidity. It will be wrong if we think that market always will up trend and give us profits. Those are totally depend on online earning like bitcoin, downtrend is damn for them. In a result they loss their patience and sell coin on loss especially traders.

I would like to suggest earn Bitcoin as much as you can but don't depend on it. Just consider it as a passive income. Just continue your job or whatever your business. On the other hand earn from online and hold it until bull run on your appropriate targets. Then you will not panic and you will not be in loss. Most of traders loss due to panic sell and panic buy. So keep patience and continue your earning, spread the word about Bitcoin. Attract new investors on crypto industry. Think positive and be positive.

My intention to motivate people's who have losed their hope on crypto. The main reason is who are thinking to leave crypto they was totally depend on it. Which is wrong in my opinions.

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January 08, 2019, 02:34:59 PM
 #2

I have seen few topic on forum lately that few people's are want to leave crypto-currency due to continue bear markets. They are finding job or whatever. That's why my topic title is earning Bitcoin is good, but don't depend on it since most of we are not whales.

There are only a few Bitcoin paying bounties left. Lending is no longer an effective way of earning bitcoins, neither is gambling. And these are not practised by whales, whales engage in active trading or go long on bitcoins.
I agree with you that no one should depend on bitcoin bounties, but I don't think anyone really does (except when limited by situation).

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January 08, 2019, 02:50:12 PM
 #3

Do not ever depend on bitcoin because we do not know if this thing is lifetime. You should bitcoin as your alternative and find a job that fit to the things that you really want. I do not depend on bitcoin because there is no assurance that you can earn money so I have my permanent job.

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January 08, 2019, 02:52:01 PM
 #4


I would like to suggest earn Bitcoin as much as you can but don't depend on it. Just consider it as a passive income. Just continue your job or whatever your business. On the other hand earn from online and hold it until bull run on your appropriate targets. Then you will not panic and you will not be in loss. Most of traders loss due to panic sell and panic buy. So keep patience and continue your earning, spread the word about Bitcoin. Attract new investors on crypto industry. Think positive and be positive.

My intention to motivate people's who have losed their hope on crypto. The main reason is who are thinking to leave crypto they was totally depend on it. Which is wrong in my opinions.

  A huge number people who had crypto as their main source of income come from very poor third-world countries and are probably unemployed there. For them even low paying jobs like solving captchas and participating in bounty campaigns were better than trying to find some "real job", because they could earn more and had better work conditions.
  But that was a few years ago, now it's way harder to earn crypto and the earnings are way smaller, so using it only as an investment might be a good idea. But on the other hand, "crypto" is full of scams, pump and dump schemes, shitcoins and shittokens, so I would say that it's a bad idea to suggest investing in crypto to broad public. If you replace "crypto" with Bitcoin, that would be a much better advice.

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January 08, 2019, 03:24:08 PM
 #5

It is absolutely right that who fully dependent on it, he is great fool. My opinion is don't depend on bitcoin.You can take it like a part time job.
Right we can't fully depend in bitcoin cause bitcoin is very unpredictable the value, that's why we need regular job, we can't depend our income in bitcoin, and for me bitcoin is only my extra job and I have regular job.

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January 08, 2019, 03:57:40 PM
 #6

Do not ever depend on bitcoin because we do not know if this thing is lifetime. You should bitcoin as your alternative and find a job that fit to the things that you really want. I do not depend on bitcoin because there is no assurance that you can earn money so I have my permanent job.

You are absolutely right, if we are dependent then we ourself going on a danger zone, Bitcoin is unpredictable as anything can happen in a night either a massive pump or a dump it depends on the situation of the market. It is always better to have it as a part-time job rather than preferring for permanent one.

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January 08, 2019, 04:05:55 PM
 #7

Yes nobody should ever depend on bitcoin. One shouldn't put all is life time inheritance inti bitcoin or cryptocurrency, why because bitcoin isn't a life time investment. Moreover bitcoin itself isn't predictable. Nobody here can predict it future.
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January 08, 2019, 04:07:27 PM
 #8

I wouldn't call it passive income unless you have a very stable mining farm or invested in cloud mining. Bitcoin is pow and holding it won't guarantee returns

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January 08, 2019, 04:22:09 PM
 #9

I think it's too risky to rely solely on the benefits of bitcoin, unstable prices make it difficult to get a fixed nominal profit, and I consider it an alternative job.

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January 08, 2019, 04:24:10 PM
 #10

People who are dependent on bitcoin are usually people who haven't worked in the real world or do not have a primary job. Then Bitcoin is used as a permanent job for those who haven't worked to fill their daily activities. For people who have a main job, Bitcoin is usually used as additional income or second income. So I think someone's situation that affects depends on bitcoin or not.

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January 08, 2019, 04:33:53 PM
 #11

Your definitely right , what i do on the earnings i recieved from this forum is i started a small business, bought a piece of land where i can plant  crops to sell on the market.

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January 08, 2019, 04:46:47 PM
 #12

You are absolutely right! Last year a lot of people did this mistake! Some people sold their car, lands to buy bitcoin to hold! and now they are regretting every day! I always suggested my fellows to support crypto not to depend on it! Earn from bitcoin and try to make something in offline, take crypto trading as optional income source! One of my elder brothers heard me, and he builds a medicine shop! Now, he is very happy and he doesn't care about the market fallen! And he becomes a full day trader!

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January 08, 2019, 05:10:27 PM
 #13

One should always remember about significant risks to keep huge amounts in cryptocurrency. I prefer to periodically withdraw my profit from cryptocurrency to regular currency. Although this reduces the amount of profit, but increases the reliability of this activity. We believe in cryptocurrency, but precautions do not interfere.

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January 08, 2019, 05:12:27 PM
 #14

Whoever depends solely on bitcoin does so at a risk, in 2017 there are several people who thought bitcoin will continue to pump thus threw in everything into it including leaving their daily jobs of course it boomeranged at the end now the prices of Cryptos had dropped although some people from third world countries do earn bitcoin for a living due to bad economy and corrupt government of their country.

 
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January 08, 2019, 05:16:10 PM
 #15

Earn bitcoin is could be good as source income but too risky if we don't have other jobs because as you can see bitcoin quite unpredictable even so if we only depent on it but some of people still dare to full time for bitcoin even they're already being an profesional traders and can make living from bitcoin trading however it all back again to people choice
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January 08, 2019, 05:20:51 PM
 #16

Personally after I gain some profit, I spend on something else ( gold or dollar ) so when I loss on crypto, I'm not loss 100%

Learning capital management is important and I'm usually read the book about it to make me easier to understand how it's work !
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January 08, 2019, 05:27:32 PM
 #17

Personally after I gain some profit, I spend on something else ( gold or dollar ) so when I loss on crypto, I'm not loss 100%

Learning capital management is important and I'm usually read the book about it to make me easier to understand how it's work !

I'm practicing this method now. The profit I made with HODL before, then disappeared. But I've been converting some of my profit over the past few months into USD. So I can't get my capital back. Then I plan to expand my investment in the same way.

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January 08, 2019, 05:27:49 PM
 #18

i support what you said, earning bitcoin is good. the only issue is that so many people have made it a source of living forgetting it is volatile and anything can happen to the price at any given time. it is also prone to hacks as hackers can steal your money online at any point in time. we shoud not indeed depend on bitcoin for living as it is unpredictable currently.
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January 08, 2019, 05:44:31 PM
 #19

You are right, bitcoin can provide benefits but if we make a wrong decision then it will be a loss, and because it depends too much on the benefits of bitcoin it will be a risk.

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January 08, 2019, 05:59:28 PM
 #20

The problem is that many members really thought that they can just look at bounties as their major source of income. Specially when crypto boom in 2017, we will see a lot of thread asking for advises if they can focus on crypto and leave their regular jobs because they are making huge money in trading or even in bounties. And I'm sure majority of them made that unforgettable decision, because we have seen by now the hardships and difficulties of 2018 and I wonder how are they going to provide food for their families? So it's a hard lesson, yes, crypto might be good and giving us money, but there is a big risk involved and we can say that it really works in cycle.

 
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