Can we rely on Bitcoin and other cryptocurrency?

[FlightyPouch]

We can't really rely on bitcoin right now. It is a speculative asset and it is not that giving a good profit lately as it is stagnant these days. Though it gave people a lot of profit in the long run, it is not really reliable and dependable so better chose another way to earn a profit, take note that you need a reliable and dependable source of income these days.

For us who doesn't have enough we can't rely to live from our crypto-income, but there are people who are earn a lot in crypto-currencies, they can sell parts and still have a good life, and savings in crypto-currencies.

Well, you said it yourself. They may sell some of it but they don't rely on it. There are those that earned a lot of profit from cryptos but I don't think they really rely on it. Some people I know is just holding their btcs and cryptos right now and they are not planning to sell them since the price might pump in the near future.

Unless they are working for example, freelancing and taking their payments bitcoin, we can say they can rely on it but I would prefer to accept fiat if that is the case since the volatility of it may affect me.

Some people only buy bitcoin and cryptocurrencies to sell their cryptos if the price starts to pump up and exchange it into fiat that they don't want to hold and keep their bitcoins and cryptocurrencies in the long term. Unlike other crypto users, they do rely on bitcoin and cryptocurrency because some of them used their monthly or weekly income on their trades and signature campaigns for their necessities and monthly bills.

Well, not all of us wanted to do that unlike you. All of the crypto currencies I can get is being held for the future that if it pump again, I would be able to get some proifits from it. Since I can't really use it here, maybe we can say that people would be relying on it if it is widely used in their country.

Still, I don't think people would be doing that since most people would hold their bitcoins rather than use them especially these days that the price is unpredictable.

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[bits4books]

And yet, why do you mention only btc? There are other very decent coins and much faster/better to use than BTC. Maybe it's time to finally let go of Bitcoin and move on to a new better world? It looks like you continue to manually build a fire for cooking every time in the times  where everyone is already using induction stoves and microwaves.
No, I'm not downplaying the merits of BTC in the field, but I dare say it's time for us all to move on.

[verita1]

He mentions "Bitcoin to sustain" because through it he achieves some income. I think he works from home, receiving payments in bitcoin or another cryptocurrency. Although we do not yet have a massive adoption, bitcoin is the first most liquid asset on any exchange and you can exchange it for your local currency. Which makes it a convenient asset when you want to get cash in your bank account.
As we know Bitcoin has not shown a constant bullish price, but we have altcoins that luckily you can play around with and earn a certain profit margin.
I look at it that way because it comes from my own experience.

[Spaffin]

And yet, why do you mention only btc? There are other very decent coins and much faster/better to use than BTC. Maybe it's time to finally let go of Bitcoin and move on to a new better world? It looks like you continue to manually build a fire for cooking every time in the times  where everyone is already using induction stoves and microwaves.
No, I'm not downplaying the merits of BTC in the field, but I dare say it's time for us all to move on.

It seems to me that one of the most important benefits that cryptocurrency will give to humanity is the eradication of inflation, because the government will not have the ability to print paper money. But this will happen only in a certain future, since due to the high volatility of the cryptocurrency, its mass adoption is delayed. Nevertheless, cryptocurrency is still one of the most attractive and profitable investments, and you need to take advantage of this moment.

[uneng]

If combined with other sources of income you can rely on bitcoin and cryptocurrency, but never solely on them. I say this because we shouldn't put all our hope in a currency, that is just a mean of payment or a store of value to generate passive profit, not a production method.
Only goods and technology production can rebuild a country solid and those should be the main sectors to rely during crisis times, keep currencies secondary.

[Negotiation]

Bitcoin and cryptocurrency are very good for easy money making Bitcoin is very helpful in improving the economy of a good country but it is not right to be completely dependent on it because crypto market is not stable. One of the disadvantages of this is that if for some reason the transaction becomes incomplete there is no way to get the money back even if the recipient does not get that service If the Bitcoin wallet is lost or damaged it cannot be recovered Bitcoin as a medium of exchange is not at all stable For this you need to have the skills of crypto as well as other sites.

[Janation]

Bitcoin and cryptocurrency are very good for easy money making Bitcoin is very helpful in improving the economy of a good country but it is not right to be completely dependent on it because crypto market is not stable. One of the disadvantages of this is that if for some reason the transaction becomes incomplete there is no way to get the money back even if the recipient does not get that service If the Bitcoin wallet is lost or damaged it cannot be recovered Bitcoin as a medium of exchange is not at all stable For this you need to have the skills of crypto as well as other sites.

I do agree that Bitcoin shouldn't be our source of income since it is really undependable.

The problem though from what you've said is that Bitcoin is helpful to improve the economy of a country, I don't think so. Usually, the government are not getting taxes from it so I don't know how the country benefits from it. Another thing is that it might give profits to people but I don't think it is enough to say that it can help the country.

[Kupid002]

Crypto currency and bitcoin is not an easy money tools there is a way to earn but not all is lucky to have stable income in crypto world.

You can't only rely in crypto currency unless you are early adoptor  that Just looking for a way to spend the earnings you have for buying it earlier .

Or else you have other business  and you only use crypto currency as side income and what ever happen to the price you will  never feel it as a problem.

[deisik]

Bitcoin and cryptocurrency are very good for easy money making Bitcoin is very helpful in improving the economy of a good country but it is not right to be completely dependent on it because crypto market is not stable. One of the disadvantages of this is that if for some reason the transaction becomes incomplete there is no way to get the money back even if the recipient does not get that service If the Bitcoin wallet is lost or damaged it cannot be recovered Bitcoin as a medium of exchange is not at all stable For this you need to have the skills of crypto as well as other sites.

I do agree that Bitcoin shouldn't be our source of income since it is really undependable

This is an over-generalization, and an erroneous one at that

The blockchain space has already become a single source of income for thousands of people across the world. But let me guess, you refer to a signature campaign as an unreliable source of sustenance and livelihood, or any other odd job here or elsewhere. If so, then I would definitely agree with you. However, Bitcoin is not just about signature campaigns on the forum, nor the forum is the only place where Bitcoin is valued

[South Park]

Relying on Bitcoin in a situation like now is the thing must to do. Very difficult to find income in conditions like now, where the spread of
the corona virus still occurs. The impact is that many people experience economic hardship, because many companies lay off the employee.
But after relying on Bitcoin my economy is getting better, at least I can buy my daily needs. I can make money by trading Bitcoin and doing
bounty, even though I have to be at home but still can make money.

Nothing wrong with that just do not forget to try to get a formal job, the opportunities in this market are limited and you could waste a lot of your time doing bounties and not obtain nothing out of it, I think the best option is to do both, to have a formal job in which you are paid with fiat and to try to earn some money with cryptocurrencies, that way if one of your sources of income dry up you have the other one to help you in these times of crisis.

[bitterguy28]

Crypto currency and bitcoin is not an easy money tools there is a way to earn but not all is lucky to have stable income in crypto world.

It's not an easy access for continuously earning profits, but if you have the right sets of skill then the chance is high.

You can't only rely in crypto currency unless you are early adoptor  that Just looking for a way to spend the earnings you have for buying it earlier .

If you learned much earlier your chance is much greater than those who are just starting, you have experienced and money to use.

Or else you have other business  and you only use crypto currency as side income and what ever happen to the price you will feel it as a problem.

It will be much easier to hold and wait if you are treating this venue as side investment, less stress and you always have peaceful mindsets.

[Police Indo]

(Cryptocurreny) Bitcoin can certainly be relied upon for those of you who are affected by a pandemic. all depends on how you use it. simply , if you consider Bitcoin as a currency then the tendency that you will do is to use it as a means of payment. if you think of it as an asset, then you will definitely think creatively. like we need to sell it, buy it, invest it and all things that are aimed at making a profit.

[Memminger]

We are fully aware that the whole world now is combatting the war of the unknown, or this Covid-19 that cannot be seen but killed nearly a million of people across the globe. And we are in this battle for over half a year now, but still, the Cure is so hard to be found. So devastating as it was, as the losses rises each day in all kinds as often mentioned.

Sadly, we do not know yet, when all this chaos be over.

For some individuals working in Cryptoworld like me, can we rely on Bitcoin to sustain our needs and help prevent the economy collapse as this Pandemic continues?
As I've just heard from the news, there's a new swine flu disease which is a threat discovered in China again 😢 and has a Pandemic potential that the experts need to keep eye on.

Crypto could help us on our personal needs like food and other things but I don't think that we could really rely on it for a long time.
We are earning from crypto by investing and trading if we don't have other source of income then our investment in crypto would also be affected and it would leave us with nothing.
So I think we could only see it as an extra income not the true source of income we couldn't really rely on it too much.

[Yatsan]

Upon entering this industry, everyone must know that we cannot always remain reliant into what we can earn in terms of Bitcoin and into any kind of cryptocurrencies for there may be times that it will be on the downside or on the upside. That is why those who are new are being encourage to find many more possible ways on how they can earn a living if their main reason why they get into Bitcoin is for the reason that it can sustain their daily life needs. Well, that was a mere expectation that everybody thinks when they first know that it is possible earning through Bitcoin and other cryptocurrencies.

Yes we can earn through Bitcoin and cryptocurrencies but we are not just settling on this because out of this industry, we are still having decent job that may be based on our profession or other kinds of job that can assure to give us a living. At this time of pandemic, we still can earn through Bitcoin but just quite somehow maybe through trades or campaigns but what we certainly rely on the expenses for daily are coming from recent earnings from our work and it is now possible for some to get back to work or through work from home set up. It is a mere misconception of many that because of earning through Bitcoin and cryptocurrencies, we can be reliant on it, then that is not true. Still seek for job to sustain your daily needs. Work that is suitable and attainable at this time of Pandemic.

[Onuohakk]

Cryptocurrency has two type of volatility: long and short volatility. In this type of situation (pandemic) we find ourselves in, cryptocurrency won't be of help cos we need steady income to survive than waiting long for profits.
Are you ought to, to invest in bitcoin with your upkeep money? If yes, feel free to do that but don't expect a uplift of price soon

[radjie]

For some individuals working in Cryptoworld like me, can we rely on Bitcoin to sustain our needs and help prevent the economy collapse as this Pandemic continues?
As I've just heard from the news, there's a new swine flu disease which is a threat discovered in China again 😢 and has a Pandemic potential that the experts need to keep eye on.

cryptocurrency can be relied upon when the economy is in the current phase, if we have income from crypto we should focus ourselves on being able to work from home so that we can always make money even though the source of funds we get from crypto itself. because on average most governments do the same thing to their people to stay at home and still be productive in utilizing the internet network

[kateycoin]

We are fully aware that the whole world now is combatting the war of the unknown, or this Covid-19 that cannot be seen but killed nearly a million of people across the globe. And we are in this battle for over half a year now, but still, the Cure is so hard to be found. So devastating as it was, as the losses rises each day in all kinds as often mentioned.

Sadly, we do not know yet, when all this chaos be over.

For some individuals working in Cryptoworld like me, can we rely on Bitcoin to sustain our needs and help prevent the economy collapse as this Pandemic continues?
As I've just heard from the news, there's a new swine flu disease which is a threat discovered in China again 😢 and has a Pandemic potential that the experts need to keep eye on.

It's depend to the situation of every individual that in crypto,beause not all are have knowledge about crypto. A lot of things we need to study and to know about crypto before we can use it as a earning for everyday life. So before we do step to rely in crypto we need lot idea and information.

[Janation]

Bitcoin and cryptocurrency are very good for easy money making Bitcoin is very helpful in improving the economy of a good country but it is not right to be completely dependent on it because crypto market is not stable. One of the disadvantages of this is that if for some reason the transaction becomes incomplete there is no way to get the money back even if the recipient does not get that service If the Bitcoin wallet is lost or damaged it cannot be recovered Bitcoin as a medium of exchange is not at all stable For this you need to have the skills of crypto as well as other sites.

I do agree that Bitcoin shouldn't be our source of income since it is really undependable

This is an over-generalization, and an erroneous one at that

The blockchain space has already become a single source of income for thousands of people across the world. But let me guess, you refer to a signature campaign as an unreliable source of sustenance and livelihood, or any other odd job here or elsewhere. If so, then I would definitely agree with you. However, Bitcoin is not just about signature campaigns on the forum, nor the forum is the only place where Bitcoin is valued

Im not even thinking about the btc we got from sig. camps.

Since the OP talked about the pandemic, that also means people who just invested in cryptocurrencies thinking that it might give them sustenance without a job. The price will not always go up since we all know that it is just a speculative asset. I mean just imagine an individual without a job investing in Bitcoin and have his profit from it use to sustain himself, thats what im trying to say.

[Naida_BR]

Cryptocurrency has two type of volatility: long and short volatility. In this type of situation (pandemic) we find ourselves in, cryptocurrency won't be of help cos we need steady income to survive than waiting long for profits.
Are you ought to, to invest in bitcoin with your upkeep money? If yes, feel free to do that but don't expect a uplift of price soon

The price is a decent one and during the pandemic it has also been stabilized around 9k.
Cryptocurrencies and Bitcoin is a good alternative for remote working and making income while traditional companies are closing one after the other. The future is online and bitcoin is the fuel for this change.

[DoubleEdgeEX]

Can we rely on fiats anymore? Printers are running on 110% in the USA and Europe and some others might follow soon. BTC´s current range movements could indicate a certain stability but eventually it is poised to break out, high likely on the lower end first and than with momentum up, up and away to new hights. The fact that more and more institutional investors join the bandwagen is good news and the scarcity makes it a competative asset for every serious big players portfolio. BTC already has a good reputation, in comparison certainly, so chances are good more and more people will trust cryptos and join the party thus again strengthen the network and community