Challenge of Bitcoin as the only source of income

[Adams0001]

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.

You are completely correct, because some people enjoy focusing on other people's lives, and if you are not doing any business to support your bitcoin investments, people will begin to suspect that you are engaging in illegal activities online, and they will tarnish your reputation as a scammer who defrauds people and makes money. That is why anyone investing in cryptocurrency should have another source of income to secure their investment and prevent people from accusing them of fraud online, as they are conducting a tangible business that everyone is aware of. And everyone who sees him abandoning his lavish life would believe it is a business that is bringing him a large sum of money, expect he will tell them that he is creating more bitcoin. That is why it is important to have other sources of income rather than relying solely on bitcoin. When you make a profit, attempt to start another business so that you are not burdened by people's issues.

[Reincarnated Sat]

One can't have Bitcoin as his or her only source of income,
Bitcoin is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. If you don't have a source of income like a job you can't invest or hold Bitcoin.
And you talk about using Bitcoin as your only source of income shows that you really don't understand the concept of Bitcoin and I will advise you as a follow newbie to read and learn before posting in this forum.
The only way you can have Bitcoin as your only source of income like you have said is when you have accumulated or have made enough money from Bitcoin even if you are a Bitcoin trader you need to know that 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.

Bitcoin is not a Ponzi scheme is an investment platform that takes time to bring forth profit and I will advise you again to please go through post in this forum so you can understand the concept of Bitcoin very well.

[AmaGold70]

So, my question is, what are you going to do if you find yourself in this kind of situation? 

You don't owe anyone an explanation of how you earn your income, but if you must do that, start by your lifestyle because your lifestyle says a lot about you, don't live an extravagant lifestyle. I know that one of the difference between a legitimate online worker (Bitcoin investor/worker) and an illegitimate online worker (internet fraudster) is their lifestyle, a legitimate online worker works hard to earn money and wouldn't want to spend it carelessly but an internet fraudster spends excessively so you should be able to know where you belong and talking about Bitcoin as a career or an only source of income is not going to work out well for you or anyone, if you really want to make profit you have to engage yourself in other things to earn money.

[Uhochi]

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.

Just like you said, it's not advisable to have Bitcoin as your only source of income, especially as a starter. It's best to invest in Bitcoin and allow it to grow over time.

When you have an edge in Bitcoin trading and investing, you can then choose to make it a full-time business.

And as for being indoors, people will never stop talking. If you go out often, they'll say, 'Na so so waka wake dey waka, who no watin e dey always go find outside,'.

 You should be more focused on learning about Bitcoin, getting a grasp of it, and doubling your investment wisely. The rest shouldn't bother you.

[Justbillywitt]

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 are speaking from the angle of a long time hodler, but you also have to consider the fact that not all bitcoiner are into investing and hodling for long. There are day traders who makes money from bitcoin on daily or weekly basis. Forget it bro there are advanced traders that makes good money from bitcoin trading weekly/monthly, so don't be surprised with what the op is talking about. There are traders who makes millions of Naira if bitcoin makes just 0.5% to 1% upward movement. All investors don't use one strategy, there are those that believe in day trading and there are those that believe in long term hold. So it's just for you to stick to the one that works for you. Moreover there are other altcoins too that investors makes money from and not just bitcoin alone. If you buy bitcoin and Hodl for long that's fine but what about the altcoins? Do you also buy and Hodl them for long? the answer is no, you sell your altcoins and take your profit whenever you see it. It's not only bitcoin that's in the market.

[Cryptomultiplier]

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.

You are completely correct, because some people enjoy focusing on other people's lives, and if you are not doing any business to support your bitcoin investments, people will begin to suspect that you are engaging in illegal activities online, and they will tarnish your reputation as a scammer who defrauds people and makes money. That is why anyone investing in cryptocurrency should have another source of income to secure their investment and prevent people from accusing them of fraud online, as they are conducting a tangible business that everyone is aware of. And everyone who sees him abandoning his lavish life would believe it is a business that is bringing him a large sum of money, expect he will tell them that he is creating more bitcoin. That is why it is important to have other sources of income rather than relying solely on bitcoin. When you make a profit, attempt to start another business so that you are not burdened by people's issues.

It's common wisdom to have other sources of income that's more physical in some way and or other businesses to attend to that would make a Bitcoin investor that's always indoor, go outside more as if they are going to meet up with an appointment somewhere.
One other thing is that a Bitcoin investor or trader who earns majorly from Bitcoin or cryptocurrency investment, should endeavor to dress and conduct their business in very distinctively and distinguished manner from a yahoo yahoo person, so as not to be put in same bracket as an online scammer as be an object of public attention.

[Commorant]

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 depends on the type of apartment you leave in; if you're staying in a single room apartment, that will certainly give your neighbors a reason to look into your personal life... Otherwise, what right does anyone have to ask you questions or raise suspicions? If you don't want to be under people's radar, out of the big profit you make, secure a comfortable apartment and make yourself comfortable.

Secondly, create other pathways for wealth and resources; remember the rules in creating wealth? "Never you put all your eggs in one basket". Get into some real life business or something; someone can be working for you and that means more wealth.

[Btcdeybodi]

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? 

First of all not having any other sources of income is really not good for your holdings, because you will have to fall back to your holdings for survival which is not a good idea, as long as you really want to have a good stash of Bitcoin in possession and you are actually thinking long term, not doing anything will make you eat up your investment bit by bit till it runs out.

Secondly, talking about you staying home all day and be doing nothing, bro, we all know the society we find ourselves, especially in Nigeria,  once you are at home doing nothing, and you are living a good live, spending extravagantly, you will definitely be seen as a yahoo boy, so in a situation like the one you pointed out, I would advice that you do all your crypto job or anything you are doing online that pays your bills, you do it in the comfort of your home,  though I would advice you let one or two people that are close to you know what you does for a living, so that in case of tomorrow, they might be able to speak on your behalf, and even in your absence, but as for the constant pressing of phone, I suggest you do it mostly indoor, so that you won't be seen as a fraudster.

Lastly, control the way you spend money, especially in the presence of those your neighbors, let them not start thinking you are into fraud.

People can still be investing in Bitcoin and still own real life businesses that will also fetch them money for survival and not solely depend on Bitcoin investments alone and when we consider the kind of environment we find ourselves, it is good to also have physical businesses or job even if you're a core bitcoiner because in the country we live, people that sees you doing well without any physical businesses will think you are into fraud but when you engage in some other physical jobs to make ends meet they won't look bad eyes on you.

So far as you are doing genuine works online there is no need to be afraid of anyone suspecting you to be a fraudster but the area I frown at is spending money lavishly because in the environment we live in, if you live so much larvish lifestyle people will start questioning the source of your wealth especially if you are a young person. You can live a low key life while you own a lot of investments. I'm not saying that living a luxurious life is bad but it should be controlled and it's not everything you go public like flaunting your luxury life on social media because those are the medium through which others will be raising suspicion against you if you show off all the time.

[Su-asa]

The sooner you know that Bitcoin is not the only crypto currency in the market the easiest you know that Bitcoin is not the only meas of making money. But there is one thing that some people get understand wrongly, the thing is that when you are all alone not going to work like others in your vicinity, those same people starts thinking you are into fraud because you are not going to work and you are always at home 24/7. So I am only trying to let you know that you don't even need to tell people what you do before they conclude on their own, and it doesn't matter to them if what they are thinking is right or wrong. It's important to have other investment and not put crypto currency as your only investments, there are other things that can also provide money, both business and other things within.

[DaNNy001]

The sooner you know that Bitcoin is not the only crypto currency in the market the easiest you know that Bitcoin is not the only meas of making money. But there is one thing that some people get understand wrongly, the thing is that when you are all alone not going to work like others in your vicinity, those same people starts thinking you are into fraud because you are not going to work and you are always at home 24/7. So I am only trying to let you know that you don't even need to tell people what you do before they conclude on their own, and it doesn't matter to them if what they are thinking is right or wrong. It's important to have other investment and not put crypto currency as your only investments, there are other things that can also provide money, both business and other things within.

The diversication of means of income is probably the best thing that one could do for themselves because you don't get to worry much because the money won't be on a stand by and as for crypto investment, I think Bitcoin is one thing I can pick out to make an investment in because every other assets the possibility of getting failure is very high.