My crypto/Bitcoin advice.

[pooya87]

ۤwith cryptocurrency (Bitcoin).

Just say bitcoin, why put it in parenthesis

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

No it is not the reason. Bitcoin is decentralized because it has no central authority and you don't need a third party to send/receive/store bitcoin.

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

That is a good advice people are giving, the risk is mainly the volatile price but also another risk that sometimes people forget is when newcomers lose their coins to hacks, malware, etc. because they didn't educate themselves and were holding bitcoin on an exchange or something like that.
So they have to be warned about the risks.

even on this forum some members have made such wrong comments without adding any explanation

The warning itself is not wrong but you are right about lack of explanation.

that is a wrong assumption of Bitcoin and the entire cryptocurrency

There is a massive difference between bitcoin and altcoins (ie. "entire cryptocurrency"). Majority of altcoins have an additional risk of being dumped due to being useless and the extra risk of having flawed protocols that can let people steal your coins!

bitcoin mining farm it build a long-term technical knowledge in the operators and exposes your to latest technologies

Not really! Setting up a farm doesn't need any "technical" knowledge. In fact all you need to know are pretty basic stuff (hardware, cooling, connecting to a mining pool,...).

[Pmalek]

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

You shouldn't put your life or your lifesavings into anyone's hands. Invest the amount you can afford to lose. No one can afford to lose everything they have so don't do it.

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

It is risky. You can get hacked, you can make a serious mistake and send your coins to the wrong party, you can "trust" the wrong site, wallet, or platform, regulatory changes can affect how you can use your coins, you can become the subject of a $5 wrench attach. And there are no do-overs in Bitcoin. Once it's confirmed, it's out. No support, no reversals, and no remorse.

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

. It's misleading, wrong, and irresponsible to tell other people to invest everything they have into X and telling them nothing bad can affect their investment. 

[RILWAN]

Bitcoin is better off as a store of value and an alternative currency in some cases, but the majority of people will take Bitcoin as a decentralized currency without any restrictions, but then i will not advise anyone to put their life into Bitcoin unless I don't get the point you are trying to make here.

[Viscore]

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?

Bitcoin could be a very useful investment today and in the future, but that won’t guarantee profits all the time so we should not completely depend on it as it could be a very risky and dangerous decision. And just so you know OP, it’s hard to last long in crypto market if you are like marrying your bitcoin the whole time. Bitcoin is only an investment, it might make us profitable or not in the future, the reason why we should not depend on it completely and find additional means that will also give us stable source of income not only to survive, but also to avoid us experiencing financial breakdown when bitcoin is not productive anymore.

[freedomgo]

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.

Do not be overconfident with bitcoin because once an investment, it will always have the chances to fall and never recover again. Although it’s not possible for bitcoin today, but no one holds the future really. So as much as we want more profits and become financially stable, then we should always have a stable source of living too like having a stable job that will give you good amount of compensation when your investments is no longer profitable anymore.

[Obari]

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!

Just as Bitcoin can help build your life, same as it can also do the reverse to your life which is shatter your life, if proper research isn't done before hopping into it.
Bitcoin which is a stable and decentralized coin, has in the past years witnessed a great lifetime growth and also some challenges as well. I don't really blame people who have the wrong mind conception about Bitcoin, because most of this people don't actually take out time to make quality research but rather choose to be feed with junk from bittered fellows.
Just as it is said that "rumors spread more like a wide fire", so it is same with rumors and stories from Bitcoin as well, because most people focus so hard on just jumping into the industry and believe to make a buck of millions from it and possibly become millionaires with a relatively small capital,  hence they don't treat Bitcoin like a business or investment but rather see it like a get rich quick scheme and when it fails, they start preaching hate for Bitcoin to newbies and Intending investors.

Bitcoin is life and I think on my opinion that Bitcoin is of more economic and financial advantage than it's disadvantages.

[bitmit.exchange]

Depending your life on a single financial investment/method is as wrong as putting all your eggs in one basket.
Although Bitcoin is the future gold and blockchain is the future technology and everyone would have to use BTC sooner or later, but you must have cash, stocks, gold and other investments as well as Bitcoin.

[RILWAN]

Depending your life on a single financial investment/method is as wrong as putting all your eggs in one basket.
Although Bitcoin is the future gold and blockchain is the future technology and everyone would have to use BTC sooner or later, but you must have cash, stocks, gold and other investments as well as Bitcoin.

Relying on one stream of income and investment is risky because if anything happen to that source , you will be grounded. But if the one sigle investment is a sure way and having a legitimate profits in a cinstant basis can give one some form of relief while trying to creat multiple source to sustain your financial life. Bitcoin happen to be one of such of investment that can give some form of stability .

[Renampun]

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.

you misunderstood what the OP meant. The OP said you can start a business in Bitcoin as a miner or a P2P exchange maker. Bitcoin is the beginning and leader of all cryptocurrencies, although the price is very volatile if you are really good at seeing opportunities and also have great analysis then you can depend your life on Bitcoin and get rich from it.

the majority of people think that Bitcoin will not create a stable financial life but you forget one thing if you want to be rich choose an unstable investment asset, if you want a life with a stable income then become an employee in a company or institution and get a salary from there, Bitcoin is only for those who believe in it.

[borisdj]

Here is one more blog, a small eBook:
https://infopedia.io/revolution-of-money/

(r)Evolution of Money
Money and Payment systems of tomorrow - Bitcoin rise with crypto industry story

Content:
1.Monetary Chronicles
2.Bitcoin Explanation
3.Comparative Advantage
4.Global Effects
5.Looking Forward

Disclaimer: I'm the author.

[Rengga Jati]

Again, relying solely on Bitcoin or cryptocurrencies for beginners is not good and it is very risky. Because there are no guarantees here. If we are beginners, it would be better if we still have a handle or other work in the real world, but this is if we do have a job in the real world. If it is forced and only depends on the crypto world, then we have to take the risk ourselves. This may be a different case because like there is no other option.

On the other hand, many people actually only depend on crypto for a living. Why? because they are already able. They not only play in this forum but also carry out various activities in the crypto world such as trading, investing, being the administrator of a project, or others. Where indeed their income in crypto is more established. This is also another case.
So it can return to each individual condition.

Btw, starting the crypto business is also not easy, there needs certain seriousness in all aspects, Moreover, if we want the condition you said. There will be high challenges, to compete with others. Not every crypto business will run as we plan and think. We have seen so many failed projects so far. This is really different with Bitcoin that is more established.

[Odusko]

Here is one more blog, a small eBook:
https://infopedia.io/revolution-of-money/

(r)Evolution of Money
Money and Payment systems of tomorrow - Bitcoin rise with crypto industry story

Content:
1.Monetary Chronicles
2.Bitcoin Explanation
3.Comparative Advantage
4.Global Effects
5. Looking Forward

Disclaimer: I'm the author.

Ok good to see that you author this handbook yourself,  and for that am going to have a read through the book if you want some reviews on the book I can also offer you that for free, am very interested in contributing to any intellectual work that helps to add to the body of the existing knowledge of Bitcoin and other related topics and I must say am impressed to see that you have put thos together.
We need a lot of knowledge in the space to help us make better investment decisions and how to gainfully engage the Bitcoin network for maximum benefits.

[borisdj]

Here is one more blog, a small eBook:
https://infopedia.io/revolution-of-money/

(r)Evolution of Money
Money and Payment systems of tomorrow - Bitcoin rise with crypto industry story

Content:
1.Monetary Chronicles
2.Bitcoin Explanation
3.Comparative Advantage
4.Global Effects
5. Looking Forward

Disclaimer: I'm the author.

Ok good to see that you author this handbook yourself,  and for that am going to have a read through the book if you want some reviews on the book I can also offer you that for free, am very interested in contributing to any intellectual work that helps to add to the body of the existing knowledge of Bitcoin and other related topics and I must say am impressed to see that you have put thos together.
We need a lot of knowledge in the space to help us make better investment decisions and how to gainfully engage the Bitcoin network for maximum benefits.

Would be glad to receive a review.
As stated at the bottom, both compliments and criticism are welcomed.

[examplens]

Here is one more blog, a small eBook:
https://infopedia.io/revolution-of-money/

(r)Evolution of Money
Money and Payment systems of tomorrow - Bitcoin rise with crypto industry story

Content:
1.Monetary Chronicles
2.Bitcoin Explanation
3.Comparative Advantage
4.Global Effects
5. Looking Forward

Disclaimer: I'm the author.

Ok good to see that you author this handbook yourself,  and for that am going to have a read through the book if you want some reviews on the book I can also offer you that for free, am very interested in contributing to any intellectual work that helps to add to the body of the existing knowledge of Bitcoin and other related topics and I must say am impressed to see that you have put thos together.
We need a lot of knowledge in the space to help us make better investment decisions and how to gainfully engage the Bitcoin network for maximum benefits.

Would be glad to receive a review.
As stated at the bottom, both compliments and criticism are welcomed.

I quickly looked at what you wrote, looks pretty good to me. You covered a lot of topics through the way of writing acceptable even for beginners. after I read the complete text, maybe I will leave a more detailed review.
However, bookmarked your page. Do you plan to expand the topic and add new material?

[borisdj]

I quickly looked at what you wrote, looks pretty good to me. You covered a lot of topics through the way of writing acceptable even for beginners. after I read the complete text, maybe I will leave a more detailed review.
However, bookmarked your page. Do you plan to expand the topic and add new material?

Yes, next post is planned to be about second layer, Lightning networks and others.

[Obari]

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

          Introduction:

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

To everything with an advantages also lies disadvantages as well.
It is true and proven that Bitcoin and the cryptocurrency industry has really been a great escape route for many of us, and despite it's short time since launch, Bitcoin and cryptocurrency has kept proving itself to be a life saver and so many people have been able to live their dream lives through Bitcoin and cryptocurrency at large.

It also obvious, that the opportunities In cryptocurrency can't be over emphasized, but  the truth also have to be told, as there are a whole lot of people who have been sent bankrupt and frustrated as well, which may be as a result of so much wrong informations gotten about Bitcoin which also include getting rich over the night.

I hope as we enlightened people about cryptocurrency we should also help prepare their minds to the bear market and how to stay firm when the market is against them.

Happy weekend

[Alisha-k]

Bitcoin has promissory future but yet it's never advisable for  anyone to depend on bitcoin or any digital asset it because of it's volatile nature. Instead risk what you can afford to lose keep it affordable and play safer. The rate of suicide record has pertaining crypto bankruptcy is increasing by the day as we keep getting investors who had to take their lives has a result of wiped accounts

[kamvreto]

Bitcoin has promissory future but yet it's never advisable for  anyone to depend on bitcoin or any digital asset it because of it's volatile nature. Instead risk what you can afford to lose keep it affordable and play safer. The rate of suicide record has pertaining crypto bankruptcy is increasing by the day as we keep getting investors who had to take their lives has a result of wiped accounts

If you are really afraid to depend on bitcoin or cryptocurrency digital assets, you should pay attention to the risks from the start. Cryptocurrencies are digital assets with high volatility and that makes their prices fluctuate. Those who couldn't understand it would lose their yuan very easily. But for those of us who already know what to do, this will be a good opportunity to invest and multiply profits. As for the suicide note rate increasing due to crypto investing, it's entirely their fault. Using the money they still need for the future is highly discouraged, because if they lose there will be no one to blame but themselves.
Crypto is the future for those who understand the digital assets that will affect modern payments. Know the advantages and disadvantages and also the risks that will arise.

[Smartvirus]

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.

I think this is the idea to go about it with. As a speculative asset that works for a store of value.

Despite the fact that, most of us on the for are all crypto or bitcoin enthusiast, we ought to realise that, bitcoin has got uncertainties about it and as such, you've got to watch it on your investments and follow it up with the trendings in the cryptocurrency space.

Bitcoin have been able to surpass most of the stunts thrown at it by the various anti bitcoins in the fr or critics and government but it does succumb to some of the FUDs at times and one without proper orientation or even with proper orientation but with certain situations of the world might seek out ROI at a time when one ought to hodl and have his life on the line.

I believe bitcoin would be around for a long time but until it gains a wider acceptance, we don't have to throw away the risk factors just yet.

[Piesel]

What I have observed from this discussion is that ops have missed interpreted some terms and words based on his personal feeling and making statements such as depending on Bitcoin for life may be seen as a statement that is out of context to me, since one can not build your entire life around a speculative asset as Bitcoin.

And when we talk about depending on something, it should be an asset that has long-term value without volatility such as we experience with Bitcoin.