Does Digital Currency can Activate Someone's Financial Freedom?

[nankers]

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?

[bitmover]

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

[gantez]

Op, the way you put your post is not really the fact, it is not a guarantee that digital currency would get someone into being financially independent. It is possible though but not in all cases because you can also lose everything if you invest in a shit coin.

[lobat999]

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

OP's aspirations are not impossible as we've witnessed some people did in fact achieved financial freedom by doing those things. Also, financial freedom and the feeling or its achievement is not the same for everyone since its highly subjective. Some don't even have to be required to invest a huge amount of money just to attain it. Imho.

[dothebeats]

Even if you are successful in those 3 ventures, I still not think that you would be able to attain financial freedom just by having bitcoin. Perhaps if you're one of the early adopters, that is possible, but if you're just new to the game and just starting you're luck out, chances are you might see yourself getting burned in the process before jumping back up again. Bitcoin is not meant to be your way to riches unless of course you're extremely lucky on the price swings.

[avikz]

OP's aspirations are not impossible as we've witnessed some people did in fact achieved financial freedom by doing those things. Also, financial freedom and the feeling or its achievement is not the same for everyone since its highly subjective. Some don't even have to be required to invest a huge amount of money just to attain it. Imho.

It's not impossible but it's not guaranteed as well. Financial succes always depends on an individual and his/her mindset. Bitcoin mining, trading are just mere tools to achieve financial success.

There are 5 psychological quotients to achieve financial success according to the spiritual leader I follow,

1. Do it right
2. Do it in time
3. Do hold yourself accountable
4. Do self analysis
5. Do learn from mistakes

Each of these have detailed explanations. But bitcoin and other cryptos are just mere tools to achieve succes. It works for some people who started early. It devastated a lot of people who started late. So nothing will ensure a sure shot success unless and until you have the right mindset.

[shield132]

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?

Banks don't care much to meet then needs of people, usually happens that people meet then need of banks massive wish of profit.
Political and economic instability affects everything, especially business. Who will plan to start serious business in very unstable country? Where people don't have money to buy/use your product/service, where it's not safe to live and etc? This in overall affects our wealth.
Creating of bank account is very, very easy and quick too. Also to buy bitcoin, you need to deposit money on exchange.
What do you think, won't political instability affect bitcoin's price negatively? Or economic crisis? When people care about how to get money to survive, how can bitcoin rise?
Bitcoin mining is commercial thing now, sad fact.

[TheUltraElite]

The title of this thread and the content does not match.  

OP seems to be having some confusion between what trading is and what financial freedom means. The second one basically means that you are free to the burden of government snooping on your cash - although bitcoin has been popularized by this statement, it is not exactly accurate. Anybody could investigate your transactions and lead you to a court case if you are caught laundering money.

Trading, investing are secondary "uses" of bitcoin, mining is not though. You are free to use it anyway you want - but again you are restricted because exchanges are scrutinized and often limit your max volume. Secondly investing has its own problems of forced KYC after token issue, failure to gain enough price to break even and so on.

[Upgate]

Digital currency can liberate anyone from financial threshold in the same manner if the person is ignorant of the disadvantages of it then the person can end up losing the one they can into digital currency with

[nankers]

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

I think you do not understand what I mean. what I mean from financial freedom here is freedom in managing our own finances. For more easily understand it, I demonstrated like this, the government of a country has the right to withdraw the circulation of fiat money in that country if something is deemed necessary to do. This does not apply to cryptocurrency, right !!! say if the government of a country prohibits cryptocurrency, but in reality the government cannot stop all cryptocurrency transactions in that country. Cryptocurrency holders and user in the country can still do all kinds of transactions with the cryptocurrency they have. This is what I mean by financial freedom, not same like you say.

[bitart]

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

It's the part of the financial freedom that you're free to fail with the investments
Everyone is free to risk anything, even to risk his/her lifetime savings, if he/she don't care...
Of course, there's a chance that this could end up with success but usually it won't...
The idea of the OP is more like lottery than a well-prepared investment plan, how to achieve financial freedom with cryptos...
When it's about greed, FOMO, etc., people usually don't think about the risks, until it's too late, unfortunately...

[salty]

You know I acquired financial freedom 2 times.1 time when bitcoin has risen strongly in price and the second time when mining became very attractive.But in General, cryptocurrency can provide financial freedom to absolutely everyone and in completely different ways.

[Duzter]

Financial freedom in my view, when an user gets the ability to spend unlike his earning can be termed financially freedom. In simple terms an user who has got surplus of earning beyond his needs is financially free. In terms of features bitcoin provides we can term bitcoin provides users the freedom, but it isn't the financial freedom.

[rodel caling]

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

OP's aspirations are not impossible as we've witnessed some people did in fact achieved financial freedom by doing those things. Also, financial freedom and the feeling or its achievement is not the same for everyone since its highly subjective. Some don't even have to be required to invest a huge amount of money just to attain it. Imho.

Yeah correct He have positive expectations about crypto crypto as financial freedom, and yes one of the proof is the young boy student investing in bitcoin and now he is a millionaire because he believes the positive think about crypto give chnace possible better lives.

[DaWidyaaa]

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?

Although the above is not a complete list of how one can achieve financial independence with cryptocurrency, this is a good starting point for someone who is new to technology or is looking for new ways to take advantage of existing investments.

As cryptocurrency and blockchain continue to advance, their mass adoption will continue to grow. Only time will show how these new concepts will continue to disrupt positively not only the daily activities of the end user, but also the entire industry and business.

[Janation]

We can't, really.

Despite the fact that Bitcoin is giving off good profits in the past months, that is not consistent since we all know here how volatile these decentralized cryptocurrencies are. You might be able to earn a good profit now but in the next weeks, you will not be able to get the same. It is just two things, you might either earn some or lose some.

[maxreish]

Correct me if I'm wrong. So, you mean someone's financial freedom is holding bitcoin, mining and trading? There is financial freedom if one's have enough money to do all these kind of stuffs. I think, you misinterpret the meaning of financial freedom. Even if you googled it, it means you can do whatever you want since you have enough money and afford the lifestyle you want to yourself and to your loved ones.

[LogitechMouse]

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

It can make you financially free but the 3 things you shared can't guarantee you to be financially free.

How can you say that you are financially free?? For me, when my expenses is lesser in my income and I'm investing a percentage of my money to different investments. The 3 things you shared can give you financial freedom but there is no guarantee in cryptocurrency. Trading is the most risky in those 3 especially if you are not a professional.

[livingfree]

There's no difference having financial freedom with fiat and cryptocurrency. You named different ways to acquire bitcoin and altcoins but that doesn't mean that you'll be financially free once you've done any of those.

Unless, you've made that much and you have accumulated at the cheapest price before the price multiplied, I think you can live financially free if you have hundreds of thousands to millions of dollars worth of bitcoin or altcoin with the value right now.

[Cherylstar86]

There's no difference having financial freedom with fiat and cryptocurrency. You named different ways to acquire bitcoin and altcoins but that doesn't mean that you'll be financially free once you've done any of those.

Unless, you've made that much and you have accumulated at the cheapest price before the price multiplied, I think you can live financially free if you have hundreds of thousands to millions of dollars worth of bitcoin or altcoin with the value right now.

Yeah we can do that at our own freedom if we have such capital to invest while the opportunity is there. There's a lot of ways to do it but the problem is how to initiate a good strategy. Digital currency financial freedom differs from fiat system, because you can do it at your own will without being controlled by centralized regulation.