I like your strong belief and conviction.
Your plan is solid and i hope you succeed but in case of others, they dont have 100k to invest , most of us can invest up to 1000. This is why this forum is full of thread like " next 10-100 coin" because the 1000 USD/EUR/GBP with BTC will not get you close to financial freedom.
Topic: Becoming Financially Free With Bitcoin - page 5. (Read 974 times)
Your thought is awesome , but as for me that don't have any stable income but still need to be very active on how to use this opportunity to be financially free will have to use my method of having 3-4% growth in my btc for a year and that will give me a huge result and profit at the end if I start with 0.01btc
Thanks
Yes I think stacking as many satoshi's as possible is the best way forward, because in the future even satoshi's will be worth a lot of money.
Your thought is awesome , but as for me that don't have any stable income but still need to be very active on how to use this opportunity to be financially free will have to use my method of having 3-4% growth in my btc for a year and that will give me a huge result and profit at the end if I start with 0.01btc
Live of rental income make sense because its going to give you funds for life. Everybody wants to profit for life and that will just be your ticket to live comfortably. You're not the only who plans that kind of business once they got some funds to start. Rentals is continuous flow of money which is a good plan. I have a slightly different plans like owning a few properties in the near the beach and so I will have a boat myself and do fishing all mylife.
That sounds like a good plan.
Yeah I plan on taking up more with surfing once I have financially free.
Being near the sea is good for the soul.
Live of rental income make sense because its going to give you funds for life. Everybody wants to profit for life and that will just be your ticket to live comfortably. You're not the only who plans that kind of business once they got some funds to start. Rentals is continuous flow of money which is a good plan. I have a slightly different plans like owning a few properties in the near the beach and so I will have a boat myself and do fishing all mylife.
I agree, but my point was that people can only be helped by Bitcoin once they start using Bitcoin.
Lets take away the idea of bitcoin helping people rather we should start to look at what bitcoin is doing in the financial system dominated by fiat. Bitcoin is being used to save money or asset. People like to control and use their money themselves without orders, rules etc, this is the major goal I see first. Because, if we put our mind on bitcoin helping people, what about the times that bitcoin drops
Yeah it sucks when that happens.
I live in the UK and the £ has dropped in value a lot since BREXIT started years ago, and it has dropped even more recently as the final BREXIT negotiations are taking place.
People who hold £ are getting poorer every day.
Fiat currency is the enemy of anyone who wants to control their financial destiny.
I agree, but my point was that people can only be helped by Bitcoin once they start using Bitcoin.
Lets take away the idea of bitcoin helping people rather we should start to look at what bitcoin is doing in the financial system dominated by fiat. Bitcoin is being used to save money or asset. People like to control and use their money themselves without orders, rules etc, this is the major goal I see first. Because, if we put our mind on bitcoin helping people, what about the times that bitcoin drops
It's really a good thing that you have a plan but I many people make a mistake by not sticking to the plan and end up regretting it later.
You have a good strategy here and so I would strictly recommend you to stick to the plan and not deviate from it.
You have a good strategy here and so I would strictly recommend you to stick to the plan and not deviate from it.
Hopefully going into the future, BTC can provide a more stable way for people to hold their savings, and help people rise out of poverty.
you're still not yet grokking it
Bitcoin already is a more stable way for people to hold their savings, as there is no counterparty risk. don't worry, the market reflects your sentiment also, as the majority of participants don't really understand it yet
I've been saying for years now, there will eventually be a very high profile incidence of some official gangster asking a well-known public figure "give me your money", and the well known public figure just saying "no"
at that point, everyone will suddenly get it, and the exchange value will go supernova parabolic
I agree, but my point was that people can only be helped by Bitcoin once they start using Bitcoin.
Hopefully going into the future, BTC can provide a more stable way for people to hold their savings, and help people rise out of poverty.
you're still not yet grokking it
Bitcoin already is a more stable way for people to hold their savings, as there is no counterparty risk. don't worry, the market reflects your sentiment also, as the majority of participants don't really understand it yet
I've been saying for years now, there will eventually be a very high profile incidence of some official gangster asking a well-known public figure "give me your money", and the well known public figure just saying "no"
at that point, everyone will suddenly get it, and the exchange value will go supernova parabolic
Even with Bitcoin, addresses can be blacklisted (i.e. anyone who transacts with that address with go to prison) if they are not registered with KYC.
you're wrong about that
there are many many ways to make it impossible to be sure if funds originated from blacklisted addresses, and further techniques will improve this in future
so why not extend your optimism to Bitcoin's personal sovereignty properties also? all you have to do is learn how it's done, easy
I am optimistic about Bitcoin, and I'm optimistic about the government's curent and future stance on Bitcoin.
The way things are going, it doesn't look like the main powers are going to try to go to war against Bitcoin.
These countries, UK and European neighbours, USA, China, Russia - they are too busy competing with each other to combine their forces and focus on Bitcoin.
Problem is a lot of people are living paycheck to paycheck and have no extra income to invest into bitcoin. They are stuck in a cycle of poverty and the people in charge do everything they can to keep people poor and desperate so they can have cheap labor.
Yeah this is a big problem. A lot of people are up to their eyeballs in debt, and have no breathing room.
Hopefully going into the future, BTC can provide a more stable way for people to hold their savings, and help people rise out of poverty.
With $1,200,000 invested in property (in the UK) with a 25% loan to value mortgage
My mistake. From your first post I assumed you would be buying property outright, not taking out additional mortgages.BRRR strategy
There is a lot of work involved in rehabbing/renovating properties, even if you are just going to get contractors to do it all for you. There is also plenty of paperwork to be done when it comes to buying, renting, remortgaging, and selling. There are also of plenty of risks involved here. What if you rehab a property, but the appraisal (I think you would call it home report) comes back with a lower value than you hoped? What if you can't get anyone to rent for 2 months, or you end up renting at less than you wanted? What if the contractors end up taking longer than expected? What if you discover some hidden problem with the property that you didn't know about? What if rates go up? What if the market tanks? And as Carlton says, you always have the government to consider, who could crash your whole project in a heartbeat.You sound like you know the market, but this isn't guaranteed "financial freedom" and "passive income". There are a lot of risks to consider.
Yeah all these things are true. Property is hard work, it won't be easy or guaranteed.
Well, if anybody can invest into Bitcoin with the current price and then by 2020 there would be a big bull then it can be a big money indeed. Just like anything, though, there can be some risks involved here as we don't actually know where the market is going and all here are just speculations. I wish that I was able to get into Bitcoin when it was below the $100 in price, that would have been a blast. I like your plan of investing what you earn in Bitcoin to real estate as this is the more solid and more stable industry to get into. Anyway, good luck to your endeavor.
Problem is a lot of people are living paycheck to paycheck and have no extra income to invest into bitcoin. They are stuck in a cycle of poverty and the people in charge do everything they can to keep people poor and desperate so they can have cheap labor.
Even with Bitcoin, addresses can be blacklisted (i.e. anyone who transacts with that address with go to prison) if they are not registered with KYC.
you're wrong about that
there are many many ways to make it impossible to be sure if funds originated from blacklisted addresses, and further techniques will improve this in future
so why not extend your optimism to Bitcoin's personal sovereignty properties also? all you have to do is learn how it's done, easy
With $1,200,000 invested in property (in the UK) with a 25% loan to value mortgage
My mistake. From your first post I assumed you would be buying property outright, not taking out additional mortgages.BRRR strategy
There is a lot of work involved in rehabbing/renovating properties, even if you are just going to get contractors to do it all for you. There is also plenty of paperwork to be done when it comes to buying, renting, remortgaging, and selling. There are also of plenty of risks involved here. What if you rehab a property, but the appraisal (I think you would call it home report) comes back with a lower value than you hoped? What if you can't get anyone to rent for 2 months, or you end up renting at less than you wanted? What if the contractors end up taking longer than expected? What if you discover some hidden problem with the property that you didn't know about? What if rates go up? What if the market tanks? And as Carlton says, you always have the government to consider, who could crash your whole project in a heartbeat.You sound like you know the market, but this isn't guaranteed "financial freedom" and "passive income". There are a lot of risks to consider.
Well long-term I am going to buy property in other countries.
which are also subject to the whims of compulsory purchase or confiscation
I'm also going to be buying Gold.
which is also subject to the whims of compulsory... oh i see, you get it now, ok
I'm also going to be leaving some funds in Bitcoin, and also buying back into Bitcoin if there is a major dip after I cash out.
it's not the most free flowing way to do it, but try to use in person cash transactions to minimize the risk of doing this
another way is to simply buy raw materials (metals, wood, glass, oil etc) at the top of the Bitcoin market, providing you have some guarantees to find a buyer. If you can find a commodity that's at the bottom of it's market cycle, so much the better
and you'll have property at which to store it all too (did you consider buying industrial property as opposed to residential property?)
Property, Gold, anything can be confiscated ultimately.
Even with Bitcoin, addresses can be blacklisted (i.e. anyone who transacts with that address with go to prison) if they are not registered with KYC.
But I'm optimistic about the future.
I only invest in residential property at the moment, it's what I understand. I may look at commercial/industrial property down the road though.
Well long-term I am going to buy property in other countries.
which are also subject to the whims of compulsory purchase or confiscation
I'm also going to be buying Gold.
which is also subject to the whims of compulsory... oh i see, you get it now, ok
I'm also going to be leaving some funds in Bitcoin, and also buying back into Bitcoin if there is a major dip after I cash out.
it's not the most free flowing way to do it, but try to use in person cash transactions to minimize the risk of doing this
another way is to simply buy raw materials (metals, wood, glass, oil etc) at the top of the Bitcoin market, providing you have some guarantees to find a buyer. If you can find a commodity that's at the bottom of it's market cycle, so much the better
and you'll have property at which to store it all too (did you consider buying industrial property as opposed to residential property?)
- Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
- Wait for that investment to grow by 5-10x
- Pull out my profit and invest into residential property
- Live off the rental income (passive income will be £100,000 / $120,000 p/a)
what if your local gangsterment forces you to sell the property to them, below market value via compulsory purchase?
If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).
this is increasingly less likely
Bitcoin is financial freedom, because no-one can subvert your possession of it. This means demand will always be high, ensuring a high value. Satoshi was no slouch, y'know
Honestly I have thought about this - what if the government confiscates property?
Well long-term I am going to buy property in other countries.
I'm also going to be buying Gold.
I'm also going to be leaving some funds in Bitcoin, and also buying back into Bitcoin if there is a major dip after I cash out.
If history repeats itself we may see an influx, and a dip afterwards.
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