Challenge of Bitcoin as the only source of income

[bestcandy]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

[Ishicryptic]

For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.

[Cityhunter34]

For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.

Yes you are very correct because if you use Bitcoin as your source of income without having another source of income it will makes you not hold your Bitcoin for a long term, because normally Bitcoin investment is always good when you have another source of income that we be giving you money every day so that Incase of if you have a emergency you would be able to manage and solved your problem without touching your investment.

[teamsherry]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Bitcoin is not a business and I don't see how you can take Bitcoin as a career unless you are into trading Bitcoin which is not also a stable source of income, if you are referring to investing in bitcoin, then the best approach is a long term approach which is to accumulate bitcoin for a long term and allow the value of your sats to compound over time and yield you profits, there are also means that a long term investor can live off Bitcoin by applying raking strategies or monthly withdrawal strategies, you can check it out in JayJuanGee thread in the economy speculation section.

[Marvelockg]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income.

this is total bullshit. Bitcoin is not a business and never a career. Regardless of the benefit that comes with being a Bitcoin enthusiast, you don't use that as a justification to assume that you can be a full time bitcoinner for a living. Bitcoin is just a digital financial asset that solves and help reduce the limitation of the Fiat in a manner that it allows the owners to have full conteol of thier funds. If you're talking about trading of Bitcoin for a living then that can be seen as a possible source of income for those that are experienced enough about it.

but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

you must know that you don't owe anyone a single explanation on what you choose to do for a living or how you want to do your work. As long as what you're doing is legit and doesn't involve fraude or violation of others privacy and right, then it shouldn't be a thing of concern what they think about it.

It's not everyone that has to go to work in the morning and come back by night. It's not even about always going to work everyday that makes you a productive individual. If by the requirements of your work you're required to work from home, would you want to dress up in the morning and go outside because you want to impress anybody? I doubt that's the case. If you run broke trying to do what is generally appealing to the public, they will be the same people that will mock you to scorn in the process.

Hustle legitimately and don't give a thing about people have to say about that. People would always talk and you can't do a thing about that. Just be you and do your shit the way it suits you well.

[Abbatty]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose.

To think bitcoin is a business or a source of income is wrong. You can make money from bitcoin when you hold it or trade it but it should never be relied on as a source of income because the money is not guaranteed, it is volatile and as such anything can happen so you lose when the price drops and gain when the falls. How do you intend to feed during the bear season? Bitcoin was never invented for that purpos,  it was created to serve as an alternative currency for fiat and to give people financial freedom and relief people from the problems of banks, so earning from it is just an extra benefit that comes with it.

so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

People can question themselves all they want, you don’t owe anyone an explanation and since they don’t feed you i don’t see how that should be a problem because it’s non of their business.

A lot of people work from home so you don’t necessarily have to step out to work because we dem get plenty people wey de work online through their phone and devices now and dem de make reasonable money for themselves like content creators, YouTubers and so on. The world don advance now and there will be a lot of changes in our way of life now.

If i find myself in such situations i won’t worry myself and if anyone has a problem with my of life they should confront me. 

[Adbitco]

This is very simple at first you don't need to living a  luxurious life or a kind of life style that is too showy to people around you couples with always pressing your phone/laptop on public this gives them the impression that you are doing something illegal to gain money and for that suspicion comes in immediately.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.

[Ever-young]

For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.

Yes you are very correct because if you use Bitcoin as your source of income without having another source of income it will makes you not hold your Bitcoin for a long term, because normally Bitcoin investment is always good when you have another source of income that we be giving you money every day so that Incase of if you have a emergency you would be able to manage and solved your problem without touching your investment.

I totally agree with you, if we only hope in Bitcoin, we find it to make it through it, that is we find it hard to save or hold Bitcoin as you said.

And we find it hard to survive in terms of emergency, because Bitcoin do fluctuates and at times, we might be having network downtime and we might not be able to get access to it and won't be able to solve our problems then, but having another source of income is very good, so that if one is not doing well or not benefitting at that time, the other one will be benefitting, and it will help and makes it easier for us to save and also save us from going bankrupt, unlike depending or relying on one.

[Cryptomultiplier]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

I have faced same situation you just painted and I can say that the best solution is to travel or rather become a tourist by choice, because people will not stop at just asking, they will also mug you or beat you and steal from you inorder to know exactly how you earn to stay alive and well despite the hard financial demands we are facing in the country.
The worst is if you don't have a physical job they can timeline or timetag based on your appearance on the street on in public places.

[Promocodeudo]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Personally if I am been found in this kind of situation, I will have to look for a way to diversify my investment, may be doing a physical business that will enable me to be going out from the house everyday will solve this biased mindset of many people towards me, I wanted to say that we should be making use of the smartphone or laptop for our Bitcoin activities where people will not see us but the truth is that the environment we find ourselves is full of negativity, there is nothing we can convice them with if we continue staying indoors all the time, they will definitely think that we are into some kind of fraudulent activities thats why i said it is better for us to make use of the profit we made as a bitcoiner to invest in a phsical business that will make us to leave the house on a daily basis may be with this approach people will desist from their unconfirmed suspicion about our source of income.

[Fiasem20]

Bitcoin no fit be person only source of income in essence,if you wan invest you gat get other source of income to accumulate continually and to take get fund wey oyibo dey call emergency fund incase of any emergency mata e no go make you wan tamper from your holdings,and even if na trading e no dey sure say you dey cashout huge profits everyday because of the volatility,nai make experienced traders dey say trading no be income wey person go rely on because of the volatility and losses.
The internet dey wide to make money,so anybody wey wan think say I'm into illegal online business na ehn business.Pipo wey get the understanding say de internet na place where we fit make money no go dey think otherwise, although we get de legal and illegal means of making money online but most Nigerians dey classify all online means of earning as Yahoo,and most the dangerous thing to do as a bitcoiner na to go tell people say your into Bitcoin just to clear their doubt,e beta make you dey anonymous like Satoshi Nakamoto because you no know who be who.

[Asiska02]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

There’s nothing much to do in this case because the nature of environment we find ourselves determines the type of impression that people will have on us when they see you exhibiting such characteristics in the society. You don’t need to explain to people what your source of income is because you’re not accountable to them and they are not entitled to be disclosed to. Once you know that your source of income is not illegal and you won’t have any issue with security agencies when they come to interrogate, I don’t think there’s cause for alarm on what other people think about you and where you source for money for your expenses. Bitcoin has become so wide and used by many people around the world, so for a government that is enlightened to it, they know that you’re doing anything illegal and shouldn’t be probed for your source of income.

[Stable090]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose.

Why do you even have to make bitcoin your only source of income? You might be a trader or an investor, but at least you should have other sources of income from which you can make money. You shouldn’t depend completely on bitcoin alone because anything can happen at any time. I know some people who are unemployed and who depend fully on trading for survival, but I don’t really like the idea.

so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.

I don’t care about what people say or think about me as long as I am not doing anything illegal. And I stay in a estate, so nobody cares about what you are doing for survival, everyone is always staying indoors and are always minding their business. I know that in some places, if you are a youth and you are always indoors, they will start thinking you are doing some illegal things, but if your hands are clean, then you shouldn’t panic.

[rachael9385]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

Yes Oga we know say e no dey good to tell pipo say you dey invest or trade crypto but the other things be say Bitcoin is not the only thing someone should see as his or her only source of income. Although it's fine to make Bitcoin your source of income but the really matter be say no be only 1 source of income wey person suppose to get, as you get crypto assets you suppose to get other ones too in case of anything. We get many people wey dey do only crypto jobs like marchant for exchanges and believe me say most of them don't have anyone other job. Although they might not see anything bad there but the truth is that it's not good for one to have only 1 job as a source of income. This our country no be the type wey person suppose keep crypto assets or business as em only method to make money.

[adultcrypto]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

It is advisable that you keep your activities in bitcoin private in a country like ours where the government is not too friendly with bitcoin. Look at the recent ban of exchanges, the sanctions on OPay and other banks that operate wallet accounts and other harsh actions taken by our government against cryptocurrency in general, that should tell you it is absolutely necessary to be discrete about bitcoin related information. Apart from this, consider your safety and security when it becomes a common knowledge that you have some bitcoin in your possession. This is not a situation to be in so the best is to remain secret and leave your neighbors to guess and assume anything they are comfortable with. So long as you are convinced that you are not doing anything illegal, there will be no need to care about the impression they have about you. What make you even think that if you tell them that you are a bitcoin investor or trader that they will believe you?

[Agbamoni]

For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she  has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.

You almost said it all. Let me add to what you have said so far. Bitcoin is not a source of income whether you are into trading or investment. It requires capital to start running and the only way you can get your capital is by having a source of income which is outside of Bitcoin. It could be a work or business. Having the idea of making Bitcoin a source of income is totally wrong. With time our investment might yield good profit and if it is trading, we may profit in trading, yet we shouldn't think of tapping into our profit for taking care of our needs and paying bills. The money should be used to do other business and make more investment it could not be in Bitcoin or anymore we may diversify by going into rea estate and agriculture.

[sotelorene]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?  

You are right to an extent Bitcoin is very good mostly especially when you invest for long term cause definitely you will get something great from it but making Bitcoin a source of income depends though there are people who is actually doing it (they are always online 247) and they have a special room where they stay to avoid distraction. These people are expert though they make loss but their loss Is/are always minimal compare to there profit and they always start with huge amount of money though some start with little amount and what they do mostly is trading, they don't do investment that much, so if you are not this good to the extent that your loss will be small compared to your profit then it is not advisable to take it as a source of income and lastly It is not necessary or compulsory to prove to someone or people that you are into Bitcoin investment or cryptocurrency they should believe whatever they want to, as long as they don't have evidence of what they are saying and you are not doing what they think or feel you are doing, so to me I think they are wasting their time.

[Antotena]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation? 

I will not tell anyone my source of income is bitcoin for security reasons. The world knows about Bitcoin and everyone knows how valuable it's, saying that to people might only invoke more insecurity around you, it can come from your friends and even immediate family members, we have seen cousin stealing from each other, it's not a wise decision to ever tell anyone you earn Bitcoin or have Bitcoin.

If you live alone, I don't think you need to make explanation to anyone and what you do but if you do leave in a place where people are inquisitive and want to know what you do, simply tells them you do gigs and write content online, that's your means of making money, an educated person understands what it's to work for someone online or better still tells them you a trader but don't go into details about it unless they are your guardian but you don't have to spill everything to them.

By the way, I don't think someone who buy and hold Bitcoin for time will be living an expensive lifestyle that will brings such questions, you must have hold into some coins after a while before you can make money here, I'm not if such will create unnecessary questions unless you must have invested in Bitcoin since 2009 or make some lambo money from meme coins that can make you rock under a week.

[Richbased]

I created a similar topic like this some time ago Can we proudly tell people that we're Bitcoiners?, you can check the link to see the opinion of people there. Then in my own opinion, bitcoin is not new anymore as the awareness is every where so inasmuch as you have access to an internet enabled device or phone there is no way you won't come across something relating to Bitcoin on the internet however, it is not necessary to persuade anyone about what you are into but if you also wish to tell people so that they won't raise suspicion that you are into fraud or internet scams you can still let others know but you need to be mindful of the kind of people you relate such information with so that you don't jeopardize your own security.

[Juicyhome]

Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?  

we're living in an Internet era, people do a lot of works from the house, the awareness is high, everyone knw, you don't have to go out daily for people to see that you're hard working person,  you can work smart from home and have a good living. Investing in Bitcoin is a good step but having it as your only source of income is wrong or Investing all your money in Crypto is a wrong idea. Instead use your gain from Bitcoin to invest in other business like real estate,  this will help you to make more money.

Regarding to what people will think, for the fact you're doing a legitimate business, whether indoor or outdoor, never be distracted of what people will say, because people will always talk.