My crypto/Bitcoin advice.

[Odusko]

Greetings to the entire Bitcointalk community, this thread is motivated by personal experience with cryptocurrency (Bitcoin).

          Introduction:
You can depend your life on Bitcoin that is why Bitcoin is referred to as decentralized and independent!
I have read so many comments on how risky it is to depend your life and finances on Bitcoin even on this forum some members have made such wrong comments without adding any explanation to what reason it is to make such comments and assumptions thst can mislead newbies  and building a wrong minset in some of the established members of this forum and some other cryptocurrency communities, let me educate you, that is a wrong assumption of Bitcoin and the entire cryptocurrency anyone still believing that is on the wrong part, we have so many aspects in Bitcoin that one can build a stable life with, both in the technical aspect and theoretical terms.
Bitcoin is a financial giant that encompasses so many scopes let's say e g bitcoin mining farm it build a long-term technical knowledge in the operators and exposes your to latest technologies or setting up and exchanging both peer-to-peer and centralized trading exchanges this can give you a long-term goal that will last you a lifetime, bitcoin is an industry which is why knowledge is an important tool to have a sustainable life in the industry knowing what to do alone have helped you solve half of your problem.

Have a pleasant weekend!

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[Charles-Tim]

You can depend your life on Bitcoin that is why Bitcoin is referred to as decentralized and independent!
I have read so many comments on how risky it is to depend your life and finances on Bitcoin even on this forum some members have made such wrong comments without adding any explanation to what reason it is to make such comments and assumptions thst can mislead newbies  and building a wrong minset in some of the established members of this forum and some other cryptocurrency communities,

I think it is just how to convey to people that bitcoin is a speculative asset in short term, but the fact is that bitcoin is a hedge against inflation and a store of value in long term.

bitcoin is an industry which is why knowledge is an important tool to have a sustainable life in the industry knowing what to do alone have helped you solve half of your problem.

Bitcoin is an asset, a digital currency and money.

[Odusko]

All that you mention is also the description of other altcoin too like Ethereum and other Blockchain based coins. There’s no point on depending your life on a volatility asset while you can have a stable source of fund to support your life through normal jobs. Don’t make your life miserable just to ride to the trend of Bitcoin. Just invest what you can afford to lose and focus to your real life. Don’t use Bitcoin to escape from your reality because Bitcoin can’t save your financial freedom if you don’t any initial capital to begin with.

Of course,  sir you are right and your view are not different from mind may be in the use of words! but the message is the same.
I try as much as possible to include all aspect but in the area of entire cryptocurrrncies which encompasses all other blockchain based tokens/coins. And one can build a normal job through Bitcoin it all depends on the sacrifice one is willing to pay to attained that position. One of the way to measure stability in life is having a steady flow of income and having the resource to push through life expectancy, i have seen individual building a life round Bitcoin but that doesn't mean their dont invest in other sectors like real estate there is need for diversification, but that does not eludes the fact that Bitcoin is an hedge above inflation.

[lovesmayfamilis]

A long-term goal that will last a lifetime? OP, how many years of life have you measured for yourself? How many years to wait? 
And why do you judge what is right or wrong? Everyone has the right to think as he pleases. For some, bitcoin is money, someone is ready to invest in it, and someone is not ready to wait a lifetime. 
I prefer a quiet investment, without fanaticism, and without denying my own work, from which I allocate some interest to invest in bitcoin. 
Again, I am not rejecting the study of bitcoin, but I am not suggesting that it be celebrated as the center of the universe on which my entire life may depend.
Do you want to refute it?

[mk4]

I have read so many comments on how risky it is to depend your life and finances on Bitcoin

*snip*

Because it's simply the responsible thing to say? Take note that not everyone has the financial capability to simply just buy and hold bitcoin using most of their liquid cash for the long term. And take note that not everyone is going to hold in the first place — A LOT will panic sell; and a lot will be needing cash for whatever purpose.

[Z-tight]

I have read so many comments on how risky it is to depend your life and finances on Bitcoin even on this forum some members have made such wrong comments without adding any explanation to what reason it is to make such comments and assumptions thst can mislead newbies  and building a wrong minset in some of the established members of this forum and some other cryptocurrency communities,

The comments are right and not wrong, and they are put out there not to mislead newbies or any bitcoin user, but to give them the right mindset and way to approach the bitcoin network, the explanation for those comments are not hard to find: 1)bitcoin is too volatile and risky for you to depend totally on it, 2)you have to hold it for long term, many newbies do not know, so it is best to tell them so they will invest what they can afford to lose, and then forget about it in the short term and focus on other aspects of their finances, 3)it is very bad to depend your life on one particular thing, not only bitcoin here, 4)...

[cryptoaddictchie]

You can depend your life on Bitcoin that is why Bitcoin is referred to as decentralized and independent!

Agreed that bitcoin is decentralized, however this line that we can depend our life on bitcoin isnt always true. Not all have btc and how could we can depend on something that we arent sure of in the future. You ought to mean was we can not stay hungry or losses money for living if we have bitcoin? If this is right, then aboslutely wrong cause bitcoin is a technology and still evolves in somehow but we cant assume it only go yp in value, likely it could be some sort of investment like stock that go up and down so still its not a thing that can save us from poverty or guaranteed us to be rich alone.

[Majestic-milf]

I think Bitcoin is safe to be seen as a store of value. it would be a case of lack of provisions for another option if Bitcoin fails that would make one totally depend on it as the only means of income. Because truth is aside from death, nothing is sure not even a decentralized coin like Bitcoin.

 Because of its volatility, it's proper to and advisable according to other replies on here to invest money that will not be damaging because placing all implicit trust on digital coins is a big gamble not everyone would be willing to take. Currently BTC price is 19,823.93, and let's say with the bear season we are in, it's price keeps fluctuating or dropping and assuming it drops to $1k, what happens to those who have nothing else that brings in income?.

[Darker45]

You can depend your life on Bitcoin that is why Bitcoin is referred to as decentralized and independent!

This one here can also mislead newbies and build a wrong mindset. Bitcoin is indeed decentralized, but that doesn't have anything to do with whether you can depend your life on it or not. Furthermore, Bitcoin's independence from third parties doesn't in any way guarantee anybody that he/she can depend on it.

Bitcoin is referred to as decentralized because it doesn't have a central authority that decides or operates or has control over the network. It's not decentralized because "you can depend your life on" it. That statement doesn't seem to make any sense.

[Lucius]

You can depend your life on Bitcoin that is why Bitcoin is referred to as decentralized and independent!

I guess what you wanted to say, but the way you wrote it makes no sense. Human life cannot be dependent on Bitcoin because it is not something necessary for human life - a living being depends on air, water and food to survive. Bitcoin is decentralized, but in order to exist it needs electricity and the Internet, and of course devices that will verify transactions.

I have read so many comments on how risky it is to depend your life and finances on Bitcoin even on this forum some members have made such wrong comments without adding any explanation to what reason it is to make such comments and assumptions thst can mislead newbies  and building a wrong minset in some of the established members of this forum and some other cryptocurrency communities...

You read such comments for a reason, not because someone (at least not the majority) wants to have a bad influence on others (especially beginners). People who don't understand what Bitcoin is are often victims of their ignorance, whether it's a simple financial loss amid falling prices and panic selling, or various forms of scams. How do you think the people who invested their savings in Bitcoin when it was worth $40k and more feel now?

[Daniel91]

OP, of course there are many aspects of the crypto industry such as mining, developing crypto applications for payments and other purposes, other jobs related to the crypto industry such as programming, translating professional articles into other languages etc.
When it is commented that crypto is risky, it means primarily crypto trading or investing in crypto.
Every investment is of course risky, and before every investment you should analyze and understand the market, set concrete and achievable goals and have a clear exit strategy.
Diversification of investments in different asset classes is also very important.

[isaac_clarke22]

~

I would not "fully" depend my life in Bitcoin though. I would say that I can depend on its decentralized nature and would help me store my holdings in the long-term without involving those banks that would email me from time to time about my savings that I did not even ask for.

Like mk4 mentioned, especially in third world countries where I also reside, not everyone is capable of being able to buy even a single coin if we're going to put into consideration the price of Bitcoin during late 2017s up to present. This is why others are pursuing to invest in cheaper altcoins, but we all know that many of those altcoins are just shitcoins in the end and aren't reliably worth holding in the long-term.

[Oceat]

I think Bitcoin is safe to be seen as a store of value. it would be a case of lack of provisions for another option if Bitcoin fails that would make one totally depend on it as the only means of income. Because truth is aside from death, nothing is sure not even a decentralized coin like Bitcoin.

 Because of its volatility, it's proper to and advisable according to other replies on here to invest money that will not be damaging because placing all implicit trust on digital coins is a big gamble not everyone would be willing to take. Currently BTC price is 19,823.93, and let's say with the bear season we are in, it's price keeps fluctuating or dropping and assuming it drops to $1k, what happens to those who have nothing else that brings in income?.

I think it's wrong to say your life depends on it(Bitcoin) without considering the risk of owning or investing Bitcoin. The risk is already there it's just up to someone to minimize the risk and not to mention the unpredictable volatility is already a huge risk. They may choose to store Bitcoin as an investment or trade it like a stock in the market either way both strategy have the same target – and it's to make profit.

Of course, invest only of what you can afford to lose.

[Asiska02]

OP, you've got a point. When it comes to bitcoin, some individuals only consider the investment aspect, I mean the theoretical aspect without giving any thought to the technical aspect. People frequently overlook this aspect, although it is not their fault for doing so. People lose interest in mining because of how the mining tools are expensive to buy.

Without becoming too technical, grasping the fundamentals of mining can be helpful when one starts using bitcoin. Bitcoin is beneficial on both a theoretical and technical level; you just need to decide which one would work best for you and start investing.

[BIT-BENDER]

Firstly what's your personal experience? You didn't mention that, although to some degree you are right many people have found means of livelihood from Bitcoin and crypto-currency some has even retired early due to what they have earned from Bitcoin and crypto-current, not everyone has the same story, not everyone bought the right coin early or had a big success in trading, not everyone is rich enough to get the gadget and power to run Bitcoin mining, yes there are good channels to kick off a sustainable earning from bitcoin but not everyone may fit in if they don't bring in what they already possess into crypto-currency.

You can build yourself a sustainable life in crypto by working it out, I have repeatedly said it, you don't need to be an investor, trader, exchange owner or a miner to start. Use your skill earn in crypto and accumulate gradually.

[passwordnow]

I agree that one can depend on bitcoin in their lives as long as they have found a way to do it stably. While you and the others have their safe havens through bitcoin like earning what is right and all the holdings that you've got. For the rest, it's quite hard to do it when the market has already been up and the entry price isn't cheap as it was before. But as you've said, for the long-term goals, we've got various choices and choose the best where we can find the one that fits our needs.

[khaled0111]

What do you mean by "depend your life on bitcoin"? Do you mean making it your main source of income? How are you going to achieve this and what does it have to do with decentralization?
Blockchain or bitcoin being decentralized means freedom and ensure everyone can use it without being afraid of getting censored by a centralized entity, but it doesn't guarantee a stable income.

[RILWAN]

Good luck on that and try as much as possible to build adequate knowledge on the subject matter what I enjoyed most in your write-up is the fact that you mentioned knowledge acquisition as the bedrock of all other activities that can propel easy and steady cash flow in Bitcoin ecosystem even though their all required initial capital to kick start the journey.

[BlackBoss_]

You can depend your life on Bitcoin that is why Bitcoin is referred to as decentralized and independent!

Bad advice!

Bitcoin is volatile and despite of its adoption and price growth from a few cents to $69,000, it is still a very risky asset for your investment. Let your life relies on a very risky asset is not smart.

You can work, receive salary and use part of your salary to invest into Bitcoin. But you should neither use all money for your Bitcoin investment nor put all of your life to Bitcoin.

Not only Bitcoin but in general don't put all eggs in one bag!

[Marvell1]

It is true that Bitcoin has indeed made a huge difference in the lives of many people, however, at the end of the day, its future is still somewhat uncertain, we often call it a high-risk investment. So why make your life dependent on such uncertainty?

There will be no absolutes in this world, not just bitcoins but everything in this world. That is why you should not rely on one or a few of them but rather diversify them. By allocating and diversifying your investments, you'll feel more comfortable and safer than focusing on just one thing, here bitcoin.