Bitcoin's role in financial development

TheUltraElite

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Quote from: Xal0lex on December 21, 2023, 03:07:22 AM

There is an unspoken rule that you should invest in cryptocurrency the money you are willing to lose. And do not forget that investing in bitcoin is a long-term investment, it will not bring you a huge profit tomorrow.

I think we are not promoting this line much in the recent times, but it is an age old correct thing to do. Crypto has gain popularity and acceptance in increasing numbers and we tend to forget that it is a volatile asset and often outlawed in many countries, investing in which may lead to a unsolvable position in future.

Although investing in crypto is for the future, it on its own will not lead to financial development. For that OP needs to work on their general conditions, education, place of living and then think about bitcoin. Fiat is always the more important thing here and bitcoin comes secondary. Once livelihood and work is set up properly, they can start investing in crypto.

wtsimis

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Behind every smile there must be sadness. I am really sorry for your family problems. Of course you can invest in Bitcoin as a digital currency. Bitcoin is a financial system based on blockchain technology that ensures transparent and secure transactions that increase people's trust. Moreover, Bitcoin provides a store of value in times of economic uncertainty by acting as a hedge against appreciation and currency depreciation. You want to earn super fast to solve your family problems. Cryptocurrency or Bitcoin cannot be rushed. Rather, rushing it can make it worse and ruin your investment. If you want to earn money without investment, you can grow your account quickly and join the signature campaign. But when it comes to investing, you must always invest with risk management in mind.

Litzki1990

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Only those who live abroad can feel their pain. We may understand their absence but we can never understand their pain. They have to leave their family and work abroad only for the sake of their family and they have to work there for about 14 to 18 hours. After working for 14 to 18 hours, you have to cook, eat that food and get ready for the next day. You are the son of an expatriate father and you can imagine your father's suffering and you are now trying to do something. It's not a big deal if you are unemployed yourself, keep looking for a job, if you don't find a job after searching, try to do something yourself without looking for a job. Right now it would be a good decision for you to find a job, after finding a job then you can plan to invest in bitcoin if you want because if you want to invest in bitcoin now without a job then it will put pressure on your father.

Zigabel

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Working and saving to invest in Bitcoin bis really a brilliant idea but just before you start investing your hard earned money into Bitcoin it important you have a good knowledge about investing in Bitcoin because it wouldn't be wise you invest in something you don't understand, how much knowledge you have is proportional to how well you are going to do with your investment as this will keep you informed enough especially with making the right and best investment decision.

Invest first in knowing much about Bitcoin (knowledge) the you can proceed to DYOR after which an informed investment decision is what you do and definitely you will most likely be profitable and glad you started your Bitcoin journey, but then start now because the more you wait the higher the price goes as Bitcoin has a cumulative bullish movement.

Samlucky O

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Quote from: Septex on December 08, 2023, 08:25:32 AM

My father is an expatriate. He made us human by working hard. Now I am grown up but unemployed. As the night deepens, a thought crosses my mind every day. How my father is still working alone for us. How much heavy work he has to do regularly, he has to do his own cooking, wash his own clothes and clean himself. Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

Your story is quite sad and pity, but the fact still remain that life does not give you what you want, but place you where you where it feels. But the most important thing about now is to take the offer life gives to you and learn how to be familiar with it. Concerning your family situation I don't have much to say but a person like you might find it difficult to invest in bitcoin with your current family situation. Because it will be difficult for you to make money and invest on bitcoin and take responsibility of the father. What I sujest is that you should work hard here in this forum and rank up so that you can join signature campaign and start earning in bitcoin. So that it will be like an investment plan for you. While you work and use your salary to take responsibilities of your family.

Promocodeudo

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Quote from: Septex on December 08, 2023, 08:25:32 AM

My father is an expatriate. He made us human by working hard. Now I am grown up but unemployed. As the night deepens, a thought crosses my mind every day. How my father is still working alone for us. How much heavy work he has to do regularly, he has to do his own cooking, wash his own clothes and clean himself. Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

I must say that your narration is very pathetic, sorry if I used the wrong terms to describe the situation, OP, your plans are very nice but actualization is now where the problem is, investing in Bitcoin is perfectly fine depending on the strategy you choose to work with, I don't want to sound as if am discouraging you but the truth has to prevail, can you really save now and still meet up with your need, if yes, then you are good to go, my advice to you is that don't ever think of borrowing of being indebted in other to pave way for you to invest in bitcoin, make sure you do it the little you can, beware of the market too, it will make you to know how to place your investment

Xal0lex

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Quote from: Septex on December 08, 2023, 08:25:32 AM

My father is an expatriate. He made us human by working hard. Now I am grown up but unemployed. As the night deepens, a thought crosses my mind every day. How my father is still working alone for us. How much heavy work he has to do regularly, he has to do his own cooking, wash his own clothes and clean himself. Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

There is an unspoken rule that you should invest in cryptocurrency the money you are willing to lose. And do not forget that investing in bitcoin is a long-term investment, it will not bring you a huge profit tomorrow. Remember that. No, I am not discouraging you to invest in bitcoin. Just think about what I said. And yes, my great respect and good health to your father.

lombok

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Having the desire to invest is a good thing. However, OP needs to know that investment requires capital and financial stability. That's the basic rule. In my opinion, the OP should just focus on school or study thoroughly and then get a job and be able to meet his needs and have more money or savings. Well, maybe the savings money can be allocated a certain percentage for investment. If the OP is in a hurry, the intention to invest in bitcoin could become a problem and an obstacle to the OP's current focus in studying.

Blitzboy

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Quote from: CryptopreneurBrainboss on December 15, 2023, 03:59:03 PM

Quote from: Septex on December 08, 2023, 08:25:32 AM

Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

Go and get a job buddy, Bitcoin isn't a poverty elimination program and the idea of investing in Bitcoin stopping poverty has to end. Poverty is a mentality, you can get all the money in the world and you'll still go bankrupt and broke in few days, years times or even month depending on the amount of money you had. What you need first is to get a good paying job and if your sister is eligible to work she can get hers too. When you have steady income a lot of things become easier to do. You can invest in Bitcoin better as you can DCA whenever you receive your salary.

Bitcoin has made investing very accessible but this has its pros and cons so you should be extremely cautious of the decisions you take so you don't end up regretting them. Learn a skills and use that skills to get paid in Bitcoin is another way you can accumulate Bitcoin if you don't want to be buying manually after receiving payment for a service your offer or from your job. Don't depend only on the profits you can get from Bitcoin because tp receive high profits you need to allow your investments to mature for sometimes which is what you won't have available when depending totally on the profits you get from investing in Bitcoin.

Bitcoin doesnt solve poverty, and prosperity isnt just money. Mindset and strategy matter. A job provides a foundation. Your sister, you, and everyone should aim for that. Yet dismissing Bitcoin's potential seems too cautious. Dick, my friend, gets a good job. The savvy guy invests part of his paycheck in Bitcoin. He's not reckless; he's diversifying with Bitcoin. As his investments mature, so does his financial confidence.

Dick's tale is real and achievable for many. Bitcoin isnt everything, but it helps develop wealth. Balance is key: good work, skill growth, and smart investment, including Bitcoin. That modern, holistic financial security strategy recognizes Bitcoin's value in today's economy.

Manny@11111

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Financial freedom comes from financial awareness that leads to financial development. You already understand the situation you are in and also conceptualized what you want to do in other to salvage it which is investing in Bitcoin. Is a good thing and is also the future of financial libration. I will advice you to actualize this as you in the right direction.

Natsuu

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Know your priorities, OP. You cant have everything all at once. It’s good that you are inspired by your family and you want to help them but you have to take things little by little, one thing at a time.

Investing in Bitcoin can be a potential avenue but it's important to approach it with caution, considering its volatility. Bitcoin is so risky so dont risk everything you have for it. Just earn alot of money first then invest.

CryptopreneurBrainboss

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Quote from: Septex on December 08, 2023, 08:25:32 AM

Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

Go and get a job buddy, Bitcoin isn't a poverty elimination program and the idea of investing in Bitcoin stopping poverty has to end. Poverty is a mentality, you can get all the money in the world and you'll still go bankrupt and broke in few days, years times or even month depending on the amount of money you had. What you need first is to get a good paying job and if your sister is eligible to work she can get hers too. When you have steady income a lot of things become easier to do. You can invest in Bitcoin better as you can DCA whenever you receive your salary.

Bitcoin has made investing very accessible but this has its pros and cons so you should be extremely cautious of the decisions you take so you don't end up regretting them. Learn a skills and use that skills to get paid in Bitcoin is another way you can accumulate Bitcoin if you don't want to be buying manually after receiving payment for a service your offer or from your job. Don't depend only on the profits you can get from Bitcoin because tp receive high profits you need to allow your investments to mature for sometimes which is what you won't have available when depending totally on the profits you get from investing in Bitcoin.

so98nn

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Just hang in there and focus more on your studies to be straight. This can help you get good job in the neat future, that will help you settle better.

In the perspective of Bitcoin, I would advise you to invest but not to sell your coins in a long future. This is important because if you think Bitcoin can quickly give you profits then its completely wrong. Bitcoin does give back but it needs to be invested properly.

Since you studying that means you understand the basics here. Go and search for the DCA strategy. In short if you are buying Bitcoin then buy them at different time points, at different prices and mostly buy when Bitcoin goes lower than your highest bought price. If you continue to do so until you graduate I believe you will have good returns. Good luck mate.

Dr.Bitcoin_Strange

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Quote from: btc78 on December 14, 2023, 09:44:06 AM

If, in the future, you have urgent financial needs during the period when the Bitcoin price is low and your investment is your only option, then you might be forced to sell at a very cheap price.

There are also plenty of ways to earn in cryptocurrency aside from direct investment that you could do on the side like participating in airdrops of newly launched projects or advertising a coin on social media you can also learn mining as you can also gain profit from that
[/quote]

It seems there are many ways to earn cryptocurrency, but the only best and most favorable way is to invest your money in Bitcoin or any other altcoin that you feel convinced about. The reason I say so is because about 80% of what is exiting today as an airdrop is just scam tokens or coins. Then about 18% is just some airdrops that you might not even earn up to $1–$5, and the remaining 2 percent is real, which will require you to have some better internet skills before you can successfully finish the airdrop task.

If it were in the past, you might have luckily gotten some airdrops where you could earn up to $100 in free cryptocurrency, but now it's not like that. That's why it's better to only invest with your money and avoid airdrops because the majority of them will only expose you to scams.

synchronym

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Quote from: Septex on December 08, 2023, 08:25:32 AM

My father is an expatriate. He made us human by working hard. Now I am grown up but unemployed. As the night deepens, a thought crosses my mind every day. How my father is still working alone for us. How much heavy work he has to do regularly, he has to do his own cooking, wash his own clothes and clean himself. Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

op I am really sad to hear your life story. Because unemployment is very painful in people's lives. There is nothing worse than when our parents nurture us and we grow up to be unemployed. Because every boy and girl wants to do something for their parents. Of course, best wishes for you. You will get rid of unemployment in future. If you are interested in investing in Bitcoin, you must check the market and invest in Bitcoin. You have to keep in mind that Bitcoin investment is very risky. When it comes to Bitcoin investing, you must have a long-term plan. You take time, be patient, plan for the long term and make your life free from unemployment with Bitcoin.

komisariatku

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Quote from: Septex on December 08, 2023, 08:25:32 AM

I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

Hopefully you will always be enthusiastic in living your life, which may be in quite a bad condition.

Bitcoin is currently a very good investment instrument, its value is always high and its price movements are also good. But you also know that Bitcoin is an investment that has a high risk, you need to consider that. I hope you don't force yourself to invest in bitcoin if your financial stability is not good enough because of the risks it carries.

Maybe what you need to do now is study harder to get a good job so that your family's financial condition improves and once you have financial stability, that's when you can start buying bitcoin and make it an investment for a better future.

TimeTeller

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Quote from: Bananington on December 14, 2023, 02:25:14 PM

More than sharing sorry tales on this forum is the point to heed, which is to know that investment in BTC is not a guarantee out of poverty. You need financial discipline first of all in order to now become able to save up, earn and save up some more BTC investments that may later pay off well to Carter for the hard times.

I would advise that since you are studying, you could also learn how to be a good trader. Traders make good profit from buying and selling BTC or any shitcoins out there, am sure that overtime you could have big wallet portfolio of HODLing investment to your name

It would really take time to have enough experience in trading to make it out alive in this market.
Patience and perseverance are needed in order not to give up in battling the challenges of this activity.
And while studying, he can very well learn some tips along the way. Learning is not an overnight task.
It would take years and years to be comfortable in a given activity. As long as you have the passion, you can survive with the trials that come with it.

Spaceman1000$

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Quote from: Septex on December 08, 2023, 08:25:32 AM

My father is an expatriate. He made us human by working hard. Now I am grown up but unemployed. As the night deepens, a thought crosses my mind every day. How my father is still working alone for us. How much heavy work he has to do regularly, he has to do his own cooking, wash his own clothes and clean himself. Our family consists of me and one sister. My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

Your family situation is an emotional one, as i see that your on a voyage to rescue your families financial status, for which i can relate going by your write up. Something the financial background of our family can really affect us in a way or the other, sometimes psychologically it can drain us, but with courage and steadfastness, you will surmount it. Your idea in investing on Bitcoin is a brilliant one, but you should do it little by little with amounts you can afford, bitcoin investment is something you will not see the return in investment almost immediately, it will take time but trust me your patience will really pay off over time.

Bananington

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More than sharing sorry tales on this forum is the point to heed, which is to know that investment in BTC is not a guarantee out of poverty. You need financial discipline first of all in order to now become able to save up, earn and save up some more BTC investments that may later pay off well to Carter for the hard times.

I would advise that since you are studying, you could also learn how to be a good trader. Traders make good profit from buying and selling BTC or any shitcoins out there, am sure that overtime you could have big wallet portfolio of HODLing investment to your name

CryptoHeadlineNews

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Quote from: Septex on December 08, 2023, 08:25:32 AM

My father had to take a lot of debt to go abroad. For which we are burdened with debt. Now I work along with my studies to run the family. I want to save money and invest in Bitcoin in the future even though I have worked hard because of the idea about Bitcoin. So that I can benefit from here, so that I can help my family financially and put a smile on my parents' faces. Sadly, we don't even have a house of our own at present.

If you are looking for an investment that could automatically eradicate your family poverty, then Bitcoin is not the answer. If you are looking for an investment where you could make daily constant profit, Bitcoin is still not the answer. But if you are looking for an avenue where you could store your funds without it losing it's value in a long term, then Bitcoin is actually the Answer. Because this concept of yours which you just said about Bitcoin is actually not how it works, because though Bitcoin it's volatility can be taken advantage of through trading, but if you intend to just hold, you will hardly make good profit in a short team to sort your family bills. So I advise you go sort a job, while you invest in Bitcoin with a small fund you can always afford to.

Topic: Bitcoin's role in financial development (Read 500 times)