don't quit your job

[johnnyyash]

I see no need to quit a job, when you don't know what next will be prices of bitcoin, if it will either increase or decrease up to $1m it makes no sense ...one thing you will have to know is the price determination, price exact if will increase or not...for example if you leave your job and you assume that price of bitcoin will increase to $1m and at the long run it turns out not to be so then you loose ...you just have to start over again ...you can't really give exact accuracy if price of bitcoin will increase within estimated time....

[bitzizzix]

Resigning from a job that clearly provides a steady income just to focus on Bitcoin is not a smart decision. If you really want it, you should consider it very carefully, as Bitcoin is unpredictable and highly volatile.

However, if you have savings to cover your needs for the next year, and with careful planning and a thorough understanding of Bitcoin and its risks, it shouldn't be a problem. Furthermore, you also need to have the confidence and ability to profit from Bitcoin so you can withdraw some of your profits for emergencies, as these will inevitably arise and should be considered. Once you resign from your job, you won't be able to set aside an emergency fund because you only have savings to cover your needs for the next year, which sometimes doesn't go according to plan.
My advice is to keep working, as investing in Bitcoin won't interfere with your work as long as you manage everything well. You can still buy Bitcoin using the DCA method and also set aside money for emergencies and other things that are important to you and your life, including your Bitcoin investments.

[FortuneFollower]

As of now, BTC or crypto in general won't make you a millionaire on whim..

It can accompany you and help in many ways, but not be something as a stable source of income, imo.. not in the timeframes we desire for ourselves, monthly ones, for example.

[knowngunman]

i know it is just a meme but personally i do not understand those who say they quit their jobs because they believe bitcoin will go to 1 million.

But does this even make sense? Even though it's a meme, I see no sense in the meme. In fact, I don't think people even exist with the mentality of quitting their job because of Bitcoin. How will you survive before Bitcoin hit whatever price you believe in?

Literally, if you quit your job it means you'll have no choice but to be spending from your holding. You know what that means right? The more you spend from your holding, the lesser it becomes. If care is not taken, you may exhaust your reserve before Bitcoin hit that price and you'll be left with absolutely nothing.

You need even more jobs if you really need more coins. More jobs means more money and more money means more accumulation. Quiting your job for Bitcoin is a gross mistake anyone can ever make.

[hero_the_bossman]

i know it is just a meme but personally i do not understand those who say they quit their jobs because they believe bitcoin will go to 1 million.

But does this even make sense? Even though it's a meme, I see no sense in the meme. In fact, I don't think people even exist with the mentality of quitting their job because of Bitcoin. How will you survive before Bitcoin hit whatever price you believe in?

Literally, if you quit your job it means you'll have no choice but to be spending from your holding. You know what that means right? The more you spend from your holding, the lesser it becomes. If care is not taken, you may exhaust your reserve before Bitcoin hit that price and you'll be left with absolutely nothing.

You need even more jobs if you really need more coins. More jobs means more money and more money means more accumulation. Quiting your job for Bitcoin is a gross mistake anyone can ever make.

Only degens would do so. and not with BTC, but with memes, probably.

[Bobrox]

It is a very stupid decision to quit their job they have been doing for years just because of bitcoin that they saw potential in and say they will just trade as if it were that easy to make a profit here in crypto trading,, which is not the case.

It is better for a newbie entering the crypto space to have a regular job or stable business that he can do he can do while he is studying to gradually spend the extra money he has,
and if he has a job,, he can also set aside an allocation amount even if it is small, even if it is in bitcoin.

Bitcoin many time an an hype moment during several moment easy to earn much profit but in other moment we need waiting longer time bitcoin recovery back to higher price, so quit from the job and fully focus for trading in cryptocurrency bad ideas because we make speculation get possibility earn profit by trading in cryptocurrency keep consistent or not?

I believe the most expert trader have main job and make trading as side job regarding possibility risk when trading in cryptocurrency, I think if want to quit from job and focus for trading prepare much saving money early if market unpredictable still have saving assets to back up for daily or monthly needed.

[fikrett]

Bitcoin many time an an hype moment during several moment easy to earn much profit but in other moment we need waiting longer time bitcoin recovery back to higher price, so quit from the job and fully focus for trading in cryptocurrency bad ideas because we make speculation get possibility earn profit by trading in cryptocurrency keep consistent or not?

I believe the most expert trader have main job and make trading as side job regarding possibility risk when trading in cryptocurrency, I think if want to quit from job and focus for trading prepare much saving money early if market unpredictable still have saving assets to back up for daily or monthly needed.

Yep. Trading is a good addition to an already good foundation.

Praying that trading makes everything for you is.. Not a good choice, because one week can be good, the other - not so much.

[Tungbulu]

I see no need to quit a job, when you don't know what next will be prices of bitcoin, if it will either increase or decrease up to $1m it makes no sense ...one thing you will have to know is the price determination, price exact if will increase or not...for example if you leave your job and you assume that price of bitcoin will increase to $1m and at the long run it turns out not to be so then you loose ...you just have to start over again ...you can't really give exact accuracy if price of bitcoin will increase within estimated time....

Bitcoin investment has stages. If an investor is merely just in the accumulation phase, quitting one’s job would be the worst decision ever because the investor would still a source of income that’ll help him generate funds to invest and build their portfolio to a reasonable level and maybe when he has eventually reached the overaccumulation phase, where he must’ve built enough Bitcoin portfolio then quitting his job would be a choice that would have little to no impact in their overall financial position, because their portfolio at this point, through strategic withdrawal can potentially sort all their needs.

[ChocolateBitcoinK]

I see no need to quit a job, when you don't know what next will be prices of bitcoin, if it will either increase or decrease up to $1m it makes no sense ...one thing you will have to know is the price determination, price exact if will increase or not...for example if you leave your job and you assume that price of bitcoin will increase to $1m and at the long run it turns out not to be so then you loose ...you just have to start over again ...you can't really give exact accuracy if price of bitcoin will increase within estimated time....

Bitcoin investment has stages. If an investor is merely just in the accumulation phase, quitting one’s job would be the worst decision ever because the investor would still a source of income that’ll help him generate funds to invest and build their portfolio to a reasonable level and maybe when he has eventually reached the overaccumulation phase, where he must’ve built enough Bitcoin portfolio then quitting his job would be a choice that would have little to no impact in their overall financial position, because their portfolio at this point, through strategic withdrawal can potentially sort all their needs.

If the investment is at the final stage or if we have a good financial foundation, then quitting our job will not be a very bad decision, but if someone decides to quit their job without creating any foundation and in the early stages of investment, then no one can tell what their real intention is except them. Making such a decision means bringing about their own destruction, there can certainly be no rational reason for people to quit their jobs at the early stage of life. When an investor is still in the savings stage, his main goal should be to focus on strengthening the source of regular income, and even creating more diverse sources of income, so that through this we can make more diverse investment decisions and take our situation further. But if someone decides to quit their job at this stage, it will not take long for everything to go distruction.

[TheUltraElite]

Things like "selling my house" "quitting my job" - for the sake of buying bitcoin is never recommended, how far bullish I am on bitcoin. Because these are unrealistic things and those who speak such do understand what is risk and how it needs to be managed.

To be a diligent investor, you have to have a backup system. The cushion that will save you in case everything goes South. That is your current assets like your house. The job that you might have will be the source of income for your riskier investments - it is a blunder to leave it on your own unless something else happens.

[Tungbulu]

If the investment is at the final stage or if we have a good financial foundation, then quitting our job will not be a very bad decision, but if someone decides to quit their job without creating any foundation and in the early stages of investment, then no one can tell what their real intention is except them. Making such a decision means bringing about their own destruction, there can certainly be no rational reason for people to quit their jobs at the early stage of life. When an investor is still in the savings stage, his main goal should be to focus on strengthening the source of regular income, and even creating more diverse sources of income, so that through this we can make more diverse investment decisions and take our situation further. But if someone decides to quit their job at this stage, it will not take long for everything to go distruction.

This is the very reason why an effective strategy and financial planning is required. Some newbies who are very enthusiastic about Bitcoin investment can feel overly optimistic and confident in themselves and their investment that they’ll feel that their jobs are no longer worth their time since they can after all gain financial freedom and independence through consistency in investing. And without an effective planning and understanding of how the investment works, they’ll end up doing the right thing at a very wrong timing which indeed can be detrimental to the investor.

[iBaba]

~~~

Bitcoin investment has stages. If an investor is merely just in the accumulation phase, quitting one’s job would be the worst decision ever because the investor would still a source of income that’ll help him generate funds to invest and build their portfolio to a reasonable level and maybe when he has eventually reached the overaccumulation phase, where he must’ve built enough Bitcoin portfolio then quitting his job would be a choice that would have little to no impact in their overall financial position, because their portfolio at this point, through strategic withdrawal can potentially sort all their needs.

Well I'm still going to say it all depends on the job and the level at which the portfolio has grown to. Only that I've also have this believe that a single source of income is never an option for me regardless of how huge I'm making from this source. I've kinda grown up to realize that one source of income is not a guaranteed one because anything can fail at any point in time and that is the hard truth life has thought me as an individual.

If this said job is not reaping me off my mind and comfort, I won't mind to continue doing the same job despite building my portfolio to a maturity stage. I can only think of up scaling and diversifying more in the job rather than just quitting it especially knowing to the fact that it is the job that gave me the opportunity to build my portfolio to this level.

[AGogi2003]

Things like "selling my house" "quitting my job" - for the sake of buying bitcoin is never recommended, how far bullish I am on bitcoin. Because these are unrealistic things and those who speak such do understand what is risk and how it needs to be managed.

To be a diligent investor, you have to have a backup system. The cushion that will save you in case everything goes South. That is your current assets like your house. The job that you might have will be the source of income for your riskier investments - it is a blunder to leave it on your own unless something else happens.

Sure is not a good idea of selling your property to invest in bitcoin because you don't know how the price can probably be and you can lose some of your funds. That is why is very recommended you should have something doing before you can start investing in bitcoin and that can help you alot then risky some of your property in investing. bitcoin is a good investment but before you can benefit from it you need to leave it for long term before you can start getting the benefits. And the best thing you can do on your investment is to set a target in your Bitcoin investment so that anytime the price reach your target you can sell your profits and continue with your capital and if the target as not reach you shouldn't be scared of losing, the price will increase again because bitcoin is volatile.

[vanesha]

You're smart. I completely agree with your opinion. We shouldn't quit our jobs even if Bitcoin soars. I'm even sure the influencers who follow Bitcoin full-time are just acting, creating content for their own personal gain, or advertising their projects. So many people get caught up in quitting their jobs believing they'll succeed in Bitcoin. They'll only end up killing their own economy that way.

[DiMarxist]

In as much as Bitcoin has become a profit generating assets that, can bring in cash to you at the end of the day, it should not be your major source of hope or income as an individual. Making Bitcoin your sole source of income should not be encouraged by the crypto community because this is not sustainable. The reason is that Bitcoin is highly regarded as a speculative and volatile asset that is bound to fluctuate in price anytime, Bitcoin investment should only be done from only discretionary funds which may not affect you even if you lose such money. Always have other source of income that will be generating money to you at the end of the month.

[Stable090]

Having our jobs will even give us more flexibility in saving our Bitcoin.

If you are a bitcoin holder, you going to be looking for means to accumulate more bitcoin, if you have a job, that’s going to help you in achieving that. Instead of spending from the money you making from trading, or from the bitcoin you have accumulated in the past, you just going to keep on holding the bitcoin, and you will be able to make use of the money you making from your job to take care of yourself, and you will be able to accumulate more bitcoin with it.

Also I don’t think how some people are always so comfortable when they having just a single source of income. If you have one source of income if anything happens to that then you going to find it difficult to even survive. If you have multiple sources of income, then life is going to be easy for you, and you will be able to accumulate more bitcoin without even thinking about the bitcoin.

If you are making money from trading you should know time will come that you might be losing, if you leave your job for trading, you just going to be so frustrated during that period, and you might even be making some decisions which you are not suppose to make which is going to make you lose more money.

[silpersurfer]

Some people are quite ridiculous, they are too confident in something they own, they don't have a backup plan if things don't go according to plan, realistic calculations are lost, it's like living only for Bitcoin and we don't deserve to live well, selling our house or leaving our job means we can't invest calmly and can't live a good life.
I often meet stupid people but have never seen stupidity that is so stupid, don't say you are an investor if you still don't understand risk management.

[Churchillvv]

Even though this thread is long, I will give my little cent opinion, there things that I consider extremism or extremist behavior and things like selling your property to hold bitcoin are some of those things, just because the society saw bitcoin as a means to escape its metrix does not mean that we should discomfort ourselves in other to hold bitcoin. I only recommend things that are within one’s control like work etc in other to achieve a level of hold but once it’s beyond this then I think it’s time we question such action.

[Cossyblack]

It is a very stupid decision to quit their job they have been doing for years just because of bitcoin that they saw potential in and say they will just trade as if it were that easy to make a profit here in crypto trading,, which is not the case.

It is better for a newbie entering the crypto space to have a regular job or stable business that he can do he can do while he is studying to gradually spend the extra money he has,
and if he has a job,, he can also set aside an allocation amount even if it is small, even if it is in bitcoin.

Jobs are hard to secure this days, quitting your source of income because of bitcoin isn't the best decision. When you quit your jobs you automatically don't have a source of income and without a source of income where would you get money to invest in bitcoin? Even if you feeling secure with the money you have saved, its just a matter of time before you start tapping into your bitcoin investment. It is a wrong idea to quit your job before investing in bitcoin It is better you have a source of income before investing.