Does Digital Currency can Activate Someone's Financial Freedom?

[shoreno]

People who invest in bitcoin from the first time bitcoin launch has reached financial freedom, especially for who have much bitcoin. They already cash out their bitcoin and convert it into fiat in 2017 ago, and now, they become a billionaire in their city.

becoming rich thru cryptocurrency is not what you call a financial freedom .

what financial freedom mean is that you are using a currency that is not controll by someone else  , you cant be tax or there is no restriction  .

there is no specific time for it and there is no specific number of cryptos  but it does not mean that you must cash out and earn but its the way how you spend your crypto in the form of a currency or a payment method .

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[Oasisman]

People who invest in bitcoin from the first time bitcoin launch has reached financial freedom, especially for who have much bitcoin. They already cash out their bitcoin and convert it into fiat in 2017 ago, and now, they become a billionaire in their city.

becoming rich thru cryptocurrency is not what you call a financial freedom .

what financial freedom mean is that you are using a currency that is not controll by someone else  , you cant be tax or there is no restriction  .

there is no specific time for it and there is no specific number of cryptos  but it does not mean that you must cash out and earn but its the way how you spend your crypto in the form of a currency or a payment method .

Your idea of financial freedom is correct, but that doesnt mean the other one is wrong.
Financial freedom could also mean financially independent. Those who have enough money to spend for their living without even working for a day job or being dependent from other private companies, those are the people who they call the early adopters who sold their Bitcoin during the ATH after a couple of years of holding.

The idea of  Bitcoin creation means complete financial freedom, free from any presence from the third party like banks or government, and could also make people earn enough profit if investments in crypto were properly managed.

[Herbet Fry]

I think if you can come up with a good idea for a project that you can make yours finically free and earn passive income. Starting up a coin or token is much cheaper then traditionaly having to go to the stock market and have actual stock. I am not even sure of the requirements to allow stocks in your company I think it needs to be a certain size. All these limitations and more are void when using crypto. There are also now many many new types of work and jobs and ways to earn that never were available before.

[ethereumhunter]

How many of those people do you still think will have that their holding in their wallet, many of them must have even changed it all before bitcoin even get to reach its last all-time high, and those who have even change their money when it reached new high, I hope they are able to use the money to invest in something good outside the world of cryptocurrency because that is the only way they can fully guarantee financial freedom.

Bitcoin is good to be held as asset and when it grows and reaches all-time high, it could guarantee a future of financial freedom, but don’t forget that this use of bitcoin for investment will only be a temporary thing and never be permanent, it will stop when the volatility of bitcoin reduces and people start making payment with it only.

People who have bitcoin at least 1k bitcoin will have financial freedom because they will have huge money in their bank account. They enjoy their money and will hold the rest of bitcoin they have and will buy more bitcoin if the price is down too deep like in this year. Bitcoin can be an investment and can be a new way to make money. It depends on what people goals and I am sure we want to get the financial freedom from cryptocurrency.

The people who first invested in Bitcoin (2010-2016) and Ethereum (2013-2016) then sold their coins and convert it into fiat during the 2017 Bullish market were those who enjoyed financial freedom.

I am sure that some people already did this in 2017 ago and now, they only watch the market with a smile on their face. They already buy a lot of bitcoin when it reached $3k a few months ago, and they will sell it again at the highest price.

becoming rich thru cryptocurrency is not what you call a financial freedom .

what financial freedom mean is that you are using a currency that is not controll by someone else  , you cant be tax or there is no restriction  .

there is no specific time for it and there is no specific number of cryptos  but it does not mean that you must cash out and earn but its the way how you spend your crypto in the form of a currency or a payment method .

The financial freedom for myself is when I can do whatever I want without thinking about the money. I will no problem if I still paying tax. I will call cryptocurrency is a new way to become financial freedom. And from cryptocurrency, we can make huge money without any limits. Maybe we have a different opinion about financial freedom.

[aysg76]

I think if you can come up with a good idea for a project that you can make yours finically free and earn passive income. Starting up a coin or token is much cheaper then traditionaly having to go to the stock market and have actual stock. I am not even sure of the requirements to allow stocks in your company I think it needs to be a certain size. All these limitations and more are void when using crypto. There are also now many many new types of work and jobs and ways to earn that never were available before.

Starting a coin would surely not count as a mean of earning through cryptocurrency. The conception of people to get rich through starting a new project and selling coins is what bring us to the stage when we are watching over 95% projects getting scrapped every month. It is my serious advice to only start a project when you really have one in a million idea and you are sure about that. Starting a project with mere motive of earning money is bad idea!

[Xxmodded]

Financial freedom with cryptocurrency is possible with holding or become trader, you can use your money for bitcoin investment assets where you can hold for long time and sell after price raising up, or you can use your money for trading but you have know how to start trading with bitcoin or altcoin.

[Youghoor]

What you need to ask yourself is, what does financial freedom means? The ability to control the amount of funds you can send and receive without needing the approval from any third party or central authority.  Considering what financial freedom is to the features and nature of cryptocurrency, cryptocurrency gives users an opportunity to be in charge of the flow of funds in their account with no restrictions. This defines the nature of financial freedom...

[Kakmakr]

Financial freedom is more about your ability to control your own wealth and having access to it 24/7/365 times a year. How many times have you arrived at the Bank, just to find that they were closed. <Business hours> or that the ATM was empty or broken. So, you will have financial freedom when you have full control over your own money and wealth and Bitcoin gives that to you. 

You are also not restricted to send only a predetermined amount of money to anyone in the world, so if you have $10 000 000 worth of bitcoins and you want to send it to someone, then you will not be blocked by any Bank or government, because you can send it directly to another Bitcoin address. <Bitcoin is borderless>   

[maydna]

I think that the next 5-10 years, cryptocurrency assets will enable many players to activate their financial independence in the new pestilence economy. But for this, it will be necessary to take the financial risks that are now and invest in Bitcoin or Ethereum.

I guess that will no need to wait for 5-10 years to see someone can activate their financial freedom. I am sure that if the market can get the bull run, many people will have a lot of money. They are now still waiting for that bull to comes so they can sell all of the coins they have, and if they can do that, their profit will be bigger, and that means, they can activate the financial freedom. People who invest in bitcoin or other coins can get financial freedom when they can sell at the highest price so they can make a lot of money from crypto. Perhaps, after they can sell all of the coins, they will retire from the crypto and enjoy their money.

[Byakuga]

For financial freedom to happen in crypto space we have to see huge growth like last bullrun of 2017, there is no guarantee that it will ever happen again though but its better to lean on the little profits you making out of crypto eithe through trading or bounty projects, financially freedom might not come true

[ChrisPop]

Like any other financial instrument , cryptocurrencies can bring financial freedom to a person if they invest their funds wisely. But stocks can do the same especially if you're a trader. Take into account that cryptocurrencies are not regulated, therefore is no financial authority that limits the frontiers, so the inherent risk is much higher.

[Shasha80]

Before answering my question, i will explain a little about what is financial freedom. It means financial freedom is not in debt, free to shop
for daily needs, in buying goods not bound by price, have savings and have extra money. That's the explanation of financial freedom
in my opinion, sorry if the explanation isn't quite right.

Now I will answer the question, can digital currency make someone's become financial freedom? the answer is very likely. Because digital
currency like bitcoin, if you have a good and right strategy, can deliver we get a very large profit. The method can be through investment,
trading or mining. But sad not everyone can get financial freedom, because like I said above depends on the strategy we make planning to
get profit. The more mature our planning is, the closer it will be to financial freedom.

[Kyraishi]

It's a bit different, I think you misunderstood the definition of financial freedom here. Financial freedom basically means you can live like how you want to, but you don't need to have a job or a regular paycheck to supply this lifestyle, so it's similar to retiring.

So if we are talking digital currencies in relation to retiring, it becomes a question of is that a good enough investment that can fund your retirement.

A yes, and a no, I would never invest purely into crypto-currencies, but a sort of split between traditional investment options like real estate and cryptocurrency doesn't seem bad at all.

[Astvile]

You can't really not unless you hit a really great jackpot here in crypto especially on trading, mining, bounties here.  Bitcoin/Cryptocurrency doesn't work like that there's no easy money here. If you wanna have Financial Freedom through bitcoin you'll be needing to spend tons of money and time in order to work out. Financial stability for daily expenses is doable, but it is different from financial freedom your stating, though it is still possible if you do have a lot of money to invest at the very start

[skarais]

~snip
A yes, and a no, I would never invest purely into crypto-currencies, but a sort of split between traditional investment options like real estate and cryptocurrency doesn't seem bad at all.

Everyone is free to choose what instruments are suitable for their investment.  Real estate and crypto are two types of instruments.
Both are not without risk, but the risk of investing in real estate may be smaller when compared with crypto. Both of these instruments have the potential to make us profitable, but in the end to get the benefits we must have good management and strategy.

[XCANA]

Basically this can be achieve by taken the necessary risk involved in digital currency. You cannot be financially free either  by trade or by investment if you aren't ready to take the risk involved, risk in the sense that; you will loose some of your investment, or as a trader will loose your trade before you start to gain your looses back gradually. The digital world is full of risk and those who take the risk made it to freedom.

[bitcoworld]

I personally think that the traditional banking system often fails to meet the needs of the people of a country if the country's government experiences a period of political, economic and cultural instability. But this in my opinion does not apply to cryptocurrency. The cryptocurrency and blockchain ecosystem can continue to develop during this period. People can not only depend on these assets for daily payments, but also use them to produce more wealth. Some things from my opinion which in my opinion are financial freedom from cryptocurrency

1. Buy and Hold
buying cryptocurrency in small or large quantities and holding it for several months is a form of financial freedom from cryptocurrency. Unlike a bank account, creating a new cryptocurrency wallet is very easy for anyone who has access to a smartphone or computer connected to the Internet, you can install and access the wallet in just a few minutes.
2. Daily trading
Cryptocurrency is traded on an exchange, whose function is similar to that found in global equity markets. If you have expertise for technical or fundamental analysis and believe that your skills are suitable for the cryptocurrency market, trading can be very profitable. However, daily trading can be a risky endeavor, given that some tokens can experience short periods of high volatility at any time.
3. Mining
Mining refers to the process of using computing power to verify transactions and create new cryptocurrency units. While some cryptocurrency like Bitcoin cannot be mined using consumer level hardware, it is different from others like Ethereum and Zcash. Although mining can be very profitable, a large amount of investment is indeed needed at the beginning in the form of hardware. But if you pay attention, mining can be profitable and can generate income passively

Based on that, I think that we as holders and users of cryptocurrency have financial freedom over all the money we have. Although the above is not a complete list of how someone can achieve financial independence with cryptocurrency, the above is in my opinion a good starting point for someone new to the world of cryptocurrency. Do you agree with my opinion? Or you want to add some important points to this?

The way the FIAT money is designed to work it cant be financial freedom for everyone. A lot of people don't even get a Bank Account while they need one badly. This is what bitcoin and crypto solve. Everyone can make a Wallet. Everyone can Transfer his coins. Everyone can publicly check any address and see all transactions. All stuff which was mainly reserved for the eyes of the banks. Bitcoin solve all that. Now we just have to be smart and send our coins out of the Exchanges as in a world of kyc they are the "New Banks"

[Darooghe]

It not only provides/activates financial freedom for individuals but also governments. There are different countries which were sanctioned by the USA and European Union, and it's apparent that they don't have a choice but to use cryptocurrency as the primary monetary instrument. Due to the hyperinflation such countries like Venezuela, Iran, Lybia were left off by themselves, sanctioned, and without any possibility to drive their economy forward. It's a bulletproof fact that Bitcoin may play a signification role in the development of these countries. I wish more people understood that Bitcoin is about freedom and not about Lamborghini.

[alexsandria]

This is so nonsensical. Yes maybe digital currency will make you earn money, but if to the point that you have financial freedom, no. You even have this condition mentioned on poor countries. Those who can earn so much money to the point where they will have financial freedom also need to to have a huge amount of investment. If they don't have that (if they aren't rich), then they cannot earn much money that can be considered as having financial freedom.

[Kyraishi]

People who invest in bitcoin from the first time bitcoin launch has reached financial freedom, especially for who have much bitcoin. They already cash out their bitcoin and convert it into fiat in 2017 ago, and now, they become a billionaire in their city.

becoming rich thru cryptocurrency is not what you call a financial freedom .

what financial freedom mean is that you are using a currency that is not controll by someone else  , you cant be tax or there is no restriction  .

there is no specific time for it and there is no specific number of cryptos  but it does not mean that you must cash out and earn but its the way how you spend your crypto in the form of a currency or a payment method .

No, that is just not the definition of financial freedom. See my previous post for a more detailed and accurate explanation of it.

In a sense, getting rich of crypto is sorta like having financial freedom, only if the funds are enough for you to live happily ever after without ever working or worrying about money again if that makes sense.

~snip
A yes, and a no, I would never invest purely into crypto-currencies, but a sort of split between traditional investment options like real estate and cryptocurrency doesn't seem bad at all.

Everyone is free to choose what instruments are suitable for their investment.  Real estate and crypto are two types of instruments.
Both are not without risk, but the risk of investing in real estate may be smaller when compared with crypto. Both of these instruments have the potential to make us profitable, but in the end to get the benefits we must have good management and strategy.

I mentioned real estate as an investment option because it's probably one of the safest bets when it comes to traditional investments, and it works well for long term stuff especially.