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Author Topic: Becoming Financially Free With Bitcoin  (Read 615 times)
o_e_l_e_o
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August 29, 2019, 07:21:46 PM
 #61

However, I am not buying more property at the moment as I am waiting for a dip in prices and I think Bitcoin is a better investment at the moment.
You mentioned earlier you are based in, and buy property in, the UK, right?

How is the housing market dealing with the threat of Brexit? I would imagine there could be some fear regarding Brexit, which would push sellers to try and sell before it happens, but similarly, buyers like yourself could be expecting a big crash and cheap deals in the event of a no deal, and therefore waiting it out? Or perhaps there is a feeling that prices will go up when the value of the pound tanks even more?

I don't really like any of the altcoins.
When bitcoin goes down, everything goes down. When bitcoin goes up, sometimes some coins go up, sometimes some coins go down. If you are in it for the money, then short of catching that lucky 1 in 100,000 chance that you pick the right trash altcoin on the right week that it sees a 300% pump, then staying in bitcoin is your best bet. If you are in it for the technology, the product, the real world use, then there is absolutely no competition, and staying in bitcoin is categorically your best bet.

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August 29, 2019, 11:37:59 PM
 #62

  • Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
  • Wait for that investment to grow by 5-10x
  • Pull out my profit and invest into residential property
  • Live off the rental income (passive income will be £100,000 / $120,000 p/a)

Nice plan specially considering residential property as an investment through rental income. I heard a lot of good stories of those who invested in condominiums and list it in Airbnb and they earn money from it with a very minimal overhead expenses unlike running a business. If you are still young and you can still save, why not its feasible, but for those who are near retirement age its quite too late.

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August 30, 2019, 01:12:23 AM
 #63

My plan, simply put is:

  • Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
  • Wait for that investment to grow by 5-10x
  • Pull out my profit and invest into residential property
  • Live off the rental income (passive income will be £100,000 / $120,000 p/a)
Having a long term plan if you are engaged into crypto is a very good idea and I have also a plan too.

Since I'm engaged in a signature campaign whose paying me Bitcoin, I hold some while I convert some to invest into different investment like stocks and some of it are for the future business. I want to have a passive income with my early age so I need to learn more and at the same time earn more.

Anyway, you're plan is good. Having a residential property and use it for rental purposes will give you passive income. Good luck with your future plans.

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August 30, 2019, 04:32:27 AM
 #64

I admire your braveness to invest your monthly income to bitcoin, it's not easy to put your money in cryptocurrency because the risk of losing your capital is very high. Well if it goes well with your plan you can get the financial freedom your aiming and just hoping you made the right decision, good luck.

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August 30, 2019, 09:52:47 AM
 #65

It is quite real, if you give it as much time as at work, if it is not just a hobby and a way of earning
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August 30, 2019, 10:44:04 AM
 #66

Exactly. I agree with you that you become financially free with bitcoin because you can earn tokens even without saving any money. Bitcoin aside that gives hope to its customers despite its fluctuations. It will continue to dominate other coins.

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August 30, 2019, 02:50:04 PM
 #67

It's a good plan but not easy to achieve. Now you have constant income in Bitcoin but for how long this might last. Many have tried but omly few succeeded to get really financially free with Bitcoin.
For that you need to earn a very good profit and store ir or invest further successfully because Bitcoin income/earning from investment will not last indefinetely.
I think that the reason why many of us are not getting it right is because we are forcing bitcoin to be what it is not, I mean forcing it be used as just store of value alone, meanwhile bitcoin is much more than just store of value but to be used as currency and  as alternative to fiat for payment. I am sure that if we had all embraced bitcoin form this point, then the story would have been entirely different from what is being told of us now.

Many of us are just here because we really want to see bitcoin grow in value, but little are we contributing to it, contributing to bitcoin is not just buying and keeping the money in the wallet, but many of us run online stores, while some of us have physical stores, how have we encouraged the use of bitcoin, by accepting it too as means of payment and then displaying the logo in our store.

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August 30, 2019, 04:26:08 PM
 #68

Great plan, do hope it will work as planned. Financial freedom is something we all long for, we will get there soon. Investing hugely in bitcoin is a sure way for that.

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August 30, 2019, 04:42:23 PM
 #69

However, I am not buying more property at the moment as I am waiting for a dip in prices and I think Bitcoin is a better investment at the moment.
You mentioned earlier you are based in, and buy property in, the UK, right?

How is the housing market dealing with the threat of Brexit? I would imagine there could be some fear regarding Brexit, which would push sellers to try and sell before it happens, but similarly, buyers like yourself could be expecting a big crash and cheap deals in the event of a no deal, and therefore waiting it out? Or perhaps there is a feeling that prices will go up when the value of the pound tanks even more?

I don't really like any of the altcoins.
When bitcoin goes down, everything goes down. When bitcoin goes up, sometimes some coins go up, sometimes some coins go down. If you are in it for the money, then short of catching that lucky 1 in 100,000 chance that you pick the right trash altcoin on the right week that it sees a 300% pump, then staying in bitcoin is your best bet. If you are in it for the technology, the product, the real world use, then there is absolutely no competition, and staying in bitcoin is categorically your best bet.

London property prices are stagnant/dipping at the moment. This could partly be due to Brexit, and also the fact that property in London is super inflated.

Prices in other UK cities usually go in a similar direction but the change lags behind London time wise.

I still like property as a long-term investment. But I avoid short term speculation, because it doesn't match with my investment objectives.

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August 30, 2019, 04:58:26 PM
 #70

Many of us are just here because we really want to see bitcoin grow in value, but little are we contributing to it, contributing to bitcoin is not just buying and keeping the money in the wallet, but many of us run online stores, while some of us have physical stores, how have we encouraged the use of bitcoin, by accepting it too as means of payment and then displaying the logo in our store.

Bitcoin is not ready to be used as a currency yet, that comes later.

First Bitcon needs to be seen as a reliable store of value, and be adopted as such.

One thing I discuss in the video I posted below is the evolution of Bitcoin:


https://youtu.be/SiYc6ipKefQ

The journey Bitcoin is currently taking up to becoming adopted as a currency is one of the reasons I believe in buying Bitcoin now.


I admire your braveness to invest your monthly income to bitcoin

Thanks appreciate it Smiley


Since I'm engaged in a signature campaign whose paying me Bitcoin, I hold some while I convert some to invest into different investment like stocks and some of it are for the future business. I want to have a passive income with my early age so I need to learn more and at the same time earn more.

Anyway, you're plan is good. Having a residential property and use it for rental purposes will give you passive income. Good luck with your future plans.

Yeah, it's good to start investing as soon as possible. Every investment brings you closer to financial freedom. It's the only way people are going to be able to retire these days.


If you are still young and you can still save, why not its feasible, but for those who are near retirement age its quite too late.

Yeah investing, especially in assets with a high risk, gets more difficult as we age.


try not to measure your success in dollars

don't forget, the whole reason why the circumstances that are giving people this opportunity is: inflation

and inflation means that the value of the currency, it's purchasing power, is deteriorating (which you have realised....)

so that means the currency you're transtioning from is not a reliable measurement, so don't measure anything with it!

count in ounces (of gold/silver) and satoshis

Yes and I think the general public are going to be thinking in terms of satoshis sooner than we expect.

Especially looking at the crazy things that are happening with the dollar, yuan, pound, euro etc.
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August 31, 2019, 04:56:33 AM
 #71

Every people who are investing in bitcoin will have a chance to have financial freedom, and bitcoin give that way to people who want to try. I see that the OP have a good plan to invest in bitcoin and that's why I also provide some advice to some of my friends to start to invest in bitcoin since two years ago before the bitcoin price made the highest price.

That was a good video you've made, and I hope that everyone will like your video.

But if people want to make their investment in bitcoin, they should learn and know why they choose bitcoin for the investment, and they need to have method or strategy how they used bitcoin as the investment. Besides that, they need to have a strong control for themselves, so they don't panic if the market is decreasing like today.

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September 02, 2019, 02:22:41 PM
 #72

if people want to make their investment in bitcoin, they should learn and know why they choose bitcoin for the investment, and they need to have method or strategy how they used bitcoin as the investment. Besides that, they need to have a strong control for themselves, so they don't panic if the market is decreasing like today.
My take on most people that wants to invest is that they really need to learn and understand what investment is all about, and need to understand the difference between short term investment and long term investment, because I have seen that what usually make people panic sometimes is lack of patience, and the reason for this is that they tie the investment that is meant to be a long term investment to a short term investment, and when they do so, they become too agitated every time they monitor the rice of bitcoin, and investment is something they are meant to leave there for a long period of time while facing other things in the market, and checking on such investment should be periodically and not like every hour that people check on their investment.

Bitcoin is not ready to be used as a currency yet, that comes later.
What you mean by "ready". Already lots of merchants started accepting bitcoins as one of payment options. Bitcoin is already a currency but not available for every part of people yet.

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September 02, 2019, 04:33:53 PM
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 #73

what usually make people panic sometimes is lack of patience, and the reason for this is that they tie the investment that is meant to be a long term investment to a short term investment

Yeah the majority of retail investors come in based on FOMO, and they are expecting/hoping that Bitcoin is going to go to the moon within a couple months. Some of them borrow money or invest outside of their means. This is basically just gambling.

Most of the people who invested above $13k in 2017 have now sold their Bitcoin at a loss earlier this year. They did not have the patience or the vision to wait for Bitcoin to go to $100k.

If you buy Bitcoin you have to be prepared to wait years for a return.

What you mean by "ready". Already lots of merchants started accepting bitcoins as one of payment options. Bitcoin is already a currency but not available for every part of people yet.

Can you buy a cup of coffee while you're on the way to work with Bitcoin? Not yet, not without paying fees which outweigh the purchase. And not without volatility in the price which means that one day your coffee costs $3, and the next day it costs $5.

People will start using Bitcoin to buy their food at the supermarket and to buy their coffee when the price is less volitile.

This will happen after their is mass adoption, which will happen after people buy Bitcoin as a store of value, which will happen after education and regulary people learning and understanding what Bitcoin is.

These things take time. But now is the time when thee is an opportunity to make MASSIVE gains by buying Bitcoin.

Once Bitcoin has become a stable currency, there won't be a good investment opportunity (compared to today). There will be a stable currency.

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September 03, 2019, 11:03:03 AM
 #74

To become financially free with bitcoin you need to be an incredibly cool trader with a sixth sense

In my opinion, you just need to HODL.
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September 03, 2019, 03:13:46 PM
 #75

i can remember when i got into bitcoin i saw an opportunity ,
i believe since then that in Bitcoin is where i can see and can get my financial freedom even me being just an average individual


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September 03, 2019, 06:37:20 PM
 #76

A well-planned long term investment is  good especially when it is done with a realistic asset or currency like bitcoin. The mission of almost every crypto enthusiast or investor is to make profit as quick as he/she can. Sadly, we sometimes miss the greater benefit due to the high concentration on short term investment with bitcoin.

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September 03, 2019, 06:43:30 PM
 #77

Everyone has a slightly different method for becoming financially free, based on their personality, skill-sets and appetite for risk.

I haven't come across many other BTC enthusiasts though that are using Bitcoin to become financially free, so I thought it might be interesting to share what I'm doing.

My plan, simply put is:

  • Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
  • Wait for that investment to grow by 5-10x
  • Pull out my profit and invest into residential property
  • Live off the rental income (passive income will be £100,000 / $120,000 p/a)

That’s if it goes according to the plan I’ve detailed here: https://youtu.be/SiYc6ipKefQ  

Some may perceive my plan as extremely reckless.

I know I could potentially lose everything that I invest, but I’m prepared to take that risk, because in my mind the potential reward outweighs the potential risk.

If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).

If it pays off, my route to financial freedom will be LIGHT YEARS faster than I could ever expect from property, gold, bonds, or investing in the stock market as a whole.

Although I fully understand the risk involved, I don’t see this as a gamble. I truly believe in Bitcoin as a technology. I’m willing to bet on something that I believe will have a positive impact on the world going into the future.

If I’m wrong, I’m wrong. That’s it. Start again.

But if I’m right, my life will change.

That’s really just a brief summary of my investment strategy (there is actually a bit more to it) - I’ve created a video, also linked to above, with a clearer explanation here: https://youtu.be/SiYc6ipKefQ

It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.

Wait for that investment to grow by 5-10x - sounds easier than it is.
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September 03, 2019, 07:01:09 PM
 #78

becoming financially free may be possible but we should plan properly in doing traders nt to hold many altcoins orelse we may loose btcs

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September 04, 2019, 05:33:38 AM
 #79

if people want to make their investment in bitcoin, they should learn and know why they choose bitcoin for the investment, and they need to have method or strategy how they used bitcoin as the investment. Besides that, they need to have a strong control for themselves, so they don't panic if the market is decreasing like today.
My take on most people that wants to invest is that they really need to learn and understand what investment is all about, and need to understand the difference between short term investment and long term investment, because I have seen that what usually make people panic sometimes is lack of patience, and the reason for this is that they tie the investment that is meant to be a long term investment to a short term investment, and when they do so, they become too agitated every time they monitor the rice of bitcoin, and investment is something they are meant to leave there for a long period of time while facing other things in the market, and checking on such investment should be periodically and not like every hour that people check on their investment.

Most people don't learn and understand what is investment, and they only know the global explanation from other people without telling the details. So they are attracted to invest their money in that program without learning anymore. They thought that if they already invest, that means they don't need to learn more, but that is wrong. They still need to learn and know what will go on in the investment so they can think about the solution if something wrong happens.

People can be panic if they see a bad thing that happens in the middle of the time, and usually, they thought about how to save their money from the lose. That happens too in the cryptocurrency investment, and many people are panic when they see bitcoin price jumps to the lower price and they doing fast-selling without thinking that is only a correction that will always happen.

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September 04, 2019, 07:10:06 AM
 #80

What I like about your strategy is the following :

1. You are saying, Fck it! I am going for it. A lot of people stand on the side, not taking any risk and waiting for success to come to them. In the real world, that does not happen.

2. You are not going "All in" ....so you only expose enough capital to high risk, that you are willing to lose. A total Bitcoin failure, will not sink your boat.  Wink

3. You have a plan and you stick to it. Too many people invest blindly with no purpose.

4. You are not scared to pull the profit, when you reach your goal. Some people become too greedy and they miss the opportunity, when the profit present it self.

I invested a large amount of money into Bitcoin when the price was between $300 and $400 and I took profit when it reached $18 000+ and that profit was re-invested into other investment options in my bigger portfolio.  Wink

Thanks for the vote of support.

Yeah I think the key here is not getting greedy, similar to you. I'm going to take profits slowly and not cash out all at once.

My main goal was to reach a position where I received back all the capital that I invested into Bitcoin and then to frequently take profits, when there is a spike in the price, so that I can show that this was a good investment. I also wanted to get as much out of this investment, before something bad happens and I am left with zero profits to show for my efforts.  Wink

I was one of the lucky people, who reached the ROI stage and then far exceeded that stage by showing a 800%+ profit on my initial investment. This is why you should never pull out the whole investment, because we never know when that next Bull market would happen again.  Wink

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