Bitcoin investment, fulltime endeavor or side hustle? - page 5.

Davidvictorson

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

The first mistake you made not being able to properly distinguish between bitcoin investment and bitcoin trading. Let me hep you out. Bitcoin investment entails buying bitcoin for the sole reason of keeping it whether in a cold wallet or hot wallet for an extended period of time with the intention that it would appreciate in value. In bitcoin trading, as the name implies, you buy and sell bitcoin frequently in order to make profit from price and market movement in a short period of time. While the duration if the former may be in weeks, months and years, the duration in the later is in minutes, hours and days.

Having made this clarification, it is obvious that you bitcoin investment cannot be a full time job but a side hustle if you choose to call it so. However, bitcoin trading can indeed be a full time job or a side hustle but it depends on the trader, their level of experience, goals, and many other factors. Only the individual can say whether they can it to be a side hustle or their main job. A lot of persons are doing it, therefore it is possible but you must weigh the pros and the cons and seek counsel before making that move.

Bananington

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

If it is a good paying job, why would you want to quit it because you want to invest in bitcoins? How are you going to get the money to use in investing? That will be a really poor decision to take. Investing in bitcoin is not a job, it is not a side hustle. Just like every other investment, it just involves buying bitcoins and keeping them safe until they grow and give you profit, how is this a job? It is clear some people do not really understand what investing is.

Eternad

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Definitely not, Bitcoin investment is very risky to put your whole life on it since it’s very volatile unlike jobs that give you a sustainable source of profit by being consistent to your work. There’s no such thing as consistent on Bitcoin or crypto investment in general. You can be quick rich or quick poor based on the outcome of your investment.

Unless you already secured your future funds that will gonna last until you die then this is the best time to do this kind of crazy idea but with moderation.

Why would you sacrifice your stable source of income just to focus on Bitcoin investment while you can do both by doing your work and invest your salary on Bitcoin then just hold.

GreatArkansas

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

(......)
after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

You really need to weigh everything here, like think what you will going to sacrifice if you will quit your to be full time in Bitcoin investment or any hustle, is it worth it?
Because there's no guaranteed that you will earn consistent profits in Bitcoin investing or even trading, so think twice.
While some people are staying to their job and in their free time they are researching any potential investment related to Bitcoin like buying cheap Bitcoin on dumps or trading.

so98nn

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Interesting thought but that would depend on everyone’s personal choice. Many of us actually into bitcoin due to its freedom, ever growing value and demand makes it more of an investment based asset. We all know how it’s growing since its invention, the growth is literally exponential. Every four year cycle is proof of that.

It has to be full time endeavour for us then only one can make good progress in the portfolio. Yes peeps are making something on short terms as well but not as side hustle. It does take lot of efforts in that as well, so surely not just side hustle.

SOKO-DEKE

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Many people in this world nowadays have found great value in bitcoin as a means of generating income to address their financial issues. As a result, some view bitcoin as a potential source of employment, even though they are aware that there is no guarantee they will continue to be making money from their Bitcoin investments always.

It's not a smart idea to quit your job for a cause you can't be sure of. The primary issue with bitcoin is that there is no assurance over it because of the volatility. Bitcoin is seen as a huge opportunity where we may make some money, either through long-term investment or by trading but relying on it fully is a bad idea.As for me, I can't quit my full-time term job where my payment is guaranteed for Bitcoin investment that I can't assure myself that will be making money from it always.I see Bitcoin investment as side hustle and that it what I will always take it to be.

BlackBoss_

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

You can work with your job more sustainable than with Bitcoin and cryptocurrency. In cryptocurrency, you can gain income from investment, trading, coding, community management, graphic design, animation design and more.

Unfortunately, no guarantee that you will always have profit from investment and trading. No guarantee that you will always have jobs in cryptocurrency. The very tough challenge from cryptocurrency is it has bull and bear years and bearish time in cryptocurrency market is very terrible. You will hardly to get jobs in bearish market.

Quote

What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

If you can have them both, keep them both. Don't quit your jobs.

Games.Bitcoin

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The decision to pursue Bitcoin investment as a full-time endeavor or side hustle depends on factors like financial stability, risk tolerance, time availability, expertise, and diversification. Assess your situation, consider the risks, and evaluate your comfort level before deciding. Consulting a cryptocurrency specialist can help develop a personalized investment strategy.

rybako

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

So yesterday, as I went out at night to grab some snacks for myself. I bumped into a group of friends who were also into cryptocurrency trading. Then it turned on me that I should drop my question of whether Bitcoin or crypto trading could be a full-time hustle that would continuously put food on our tables in the near future and if they could quit their current jobs going into Bitcoin investment fulltime?Their responses were quit alike saying that
"to them, Bitcoin would continue to be a side hustle and since the price of cryptocurrency is volatile they could loss the value of their investment at anytime. they also said that they couldn't quit their jobs as that would continue to bring more capital for their investment"

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Very few people do it fulltime because

1) Most of the people are busy with jobs or studies. They do not have that much time and resources to do crypto fulltime.

2) Concept of crypto is new. So less people will bet on it completely.

Hatchy

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as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

So yesterday, as I went out at night to grab some snacks for myself. I bumped into a group of friends who were also into cryptocurrency trading. Then it turned on me that I should drop my question of whether Bitcoin or crypto trading could be a full-time hustle that would continuously put food on our tables in the near future and if they could quit their current jobs going into Bitcoin investment fulltime?Their responses were quit alike saying that
"to them, Bitcoin would continue to be a side hustle and since the price of cryptocurrency is volatile they could loss the value of their investment at anytime. they also said that they couldn't quit their jobs as that would continue to bring more capital for their investment"

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Topic: Bitcoin investment, fulltime endeavor or side hustle? - page 5. (Read 598 times)