Can one achieve financial independence through crypto currency? - page 10.

taufik123

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Quote from: boyptc on February 12, 2023, 05:31:49 PM

I like this image even more. Tongue

Moreover, if you own bitcoins since 2011 and hold them until 2021 or now, you will like them even more.

Quote from: boyptc on February 12, 2023, 05:31:49 PM

I think by means of that you're talking about deflation. It's known that bitcoin is a deflationary asset and this is the reason why we're on it. It's true that it's protecting the wealth and value of our money from these crazy inflation rates and they'll keep coming year after year.

Bitcoin is categorized as a deflationary asset because when the amount of money in circulation in the market decreases and prices fall, while demand for goods and services remains constant or even increases. In this case, bitcoin has a very limited amount, with only 21 million BTC available, which reduces the amount of money in circulation and helps maintain the value of bitcoin. This makes bitcoin a very attractive asset for those seeking stability and protection against inflation.

Quote from: boyptc on February 12, 2023, 05:31:49 PM

Well by 2025, we'll see a new image that contains some decent house and lot properties in addition to that comparison image. And hopefully, most of us will achieve that, just keep on holding everyone.

We will see that after the 4th bitcoin halving, whoever is able to survive will benefit.
Although the market is still volatile and bitcoin is still down from its last ATH, Bitcoin will definitely be able to reach ATH again.
This a good opportunity to buy gradually and not miss the moment to buy at a fairly cheap price for now.

Quote from: ethereumhunter on February 13, 2023, 02:02:13 AM

-snip-
And investing our money now can provide an opportunity to make a lot of money, especially when the bitcoin price has returned to a very high price.

It is necessary to underline, that the risk of crypto investment is great, but it is also proportional to the benefits.
Buy and hold until the new ATH is reached will be a good strategy. DWYOR

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

The popularity of crypto currencies has been on the rise in recent years and many people are drawn to them as a means to achieveing goal of financial freedom.
Additionally, the decentralization and global nature of crypto currencies like Bitcoin, Ethereum and others, have made them an attractive option for those who want to take control their financial future and want to avoid traditional banks and financial institutions. They can also provide hedge against inflation and currency devaluation.

Given these factors, the dream of financial freedom can come true by using crypto currency?

The popularity of bitcoin, Etherium and other cryptocurrencies is at the center of attention of today's youth, it has the potential for financial freedom by offering decentralization and not being tied to any government entity but in this case we cannot claim that crypto can solve all financial problems without risk, volatility which has become a problem to this day that makes us have to be careful in doing it, maybe there are some people who take advantage of that volatility to seek profits in the crypto world to increase their income but to get there, sufficient guidance and understanding is needed in taking trading moments in the crypto world to look for profits and of course behind that there is a risk of loss.
Things related to inflation, hedging and devaluation are the other sides of the excess with cryptocurrencies.

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People can achieve financial freedom with crypto because of owning crypto, especially bitcoin. By owning thousands of dollars worth of bitcoins, we can buy lots of luxury items or don't need to work if we have a lot of bitcoins. And all of us who join bitcoin are still trying to collect more bitcoins for our future, even people who already have lots of bitcoins still want to have more. And investing our money now can provide an opportunity to make a lot of money, especially when the bitcoin price has returned to a very high price.

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

Given these factors, the dream of financial freedom can come true by using crypto currency?

Bitcoin is savings technology, but we can only guess at the end of the day, it's how we paddle our way up to get there, and it also involves luck and risk.
The funny thing is that people just bought magic internet money without educating themselves about what crypto is
However, if your financial advisor hasn't already recommended Bitcoin, it may be time to fire them and find someone who will

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Quote from: taufik123 on February 12, 2023, 03:56:36 PM

Quote from: boyptc on February 12, 2023, 02:12:46 PM

-snip-
This is the image that I've found though.
[image]
Looking at the image gives the idea on what we can really achieve with bitcoin. With all the inflation and stuff that we're dealing with from time to time, there goes bitcoin that are giving that sense of freedom financially.

Bitcoin has a stable inflation rate and can protect the value of money from falling in value due to inflation. This makes it an attractive alternative for people who want to achieve financial freedom and protect their wealth from currency devaluation.

Here's a more recent picture that corresponds to the Bitcoin History

I like this image even more. Tongue

I think by means of that you're talking about deflation. It's known that bitcoin is a deflationary asset and this is the reason why we're on it. It's true that it's protecting the wealth and value of our money from these crazy inflation rates and they'll keep coming year after year.

Well by 2025, we'll see a new image that contains some decent house and lot properties in addition to that comparison image. And hopefully, most of us will achieve that, just keep on holding everyone.

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Actually there are people whose main source of income are from this technology; investors more likely and I know some. But this fact is not applicable to everyone. Those who are earning huge are simply having huge capital and not all people have that. Also, this industry is full of inconsistencies which should be enough to say that profit will most of the time not be constant and risks will always be there. In my opinion, it will still be better for you to have a stable job while having investments, if you are an average person, to sustain risks and other expenses. Never let the idea that there are people who became rich in this industry, to make you too optimistic in this technology.

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Quote from: hugeblack on February 12, 2023, 07:49:03 AM

Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

Given these factors, the dream of financial freedom can come true by using crypto currency?

The answer will vary depending on the country, age, current job and your definition of financial freedom.
Achieving a return of 100 dollars is a large amount in countries and an amount that is more than normal in other countries, and therefore, just as if you are still in your parents’ house, it is different from if you are alone and responsible for the cost of your life from a person who has a family and children.

Financial freedom means continuity of learning, otherwise they are just illusions that we try to believe.

Agree with what you say, because regardless of anything this only depends on our opinion about financial freedom itself.
There will be a lot of differences between one person and another when talking about it depending on existing factors as you said such as country, age, occupation and conditions.
But when talking about personal conditions I think this could be a good solution and I have felt that even though I have been here for a few years.
I don't mean to depend on crypto for life because right now I also still have my main job but indeed with crypto and I'm here until now I feel happy with my financial condition. I was able to buy what I wanted before, which was not possible when I was not in this environment.

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Quote from: Viscore on February 12, 2023, 04:46:02 PM

Quote from: crwth on February 12, 2023, 08:41:48 AM

From what I have seen in the news and also in the forum some people have met their life savings into crypto, and they have managed to be those people who have reached financial independence with the correct and lucky choice of project.

As long as you have gained profitable results in the investments that you have done with crypto, I think that’s going to be already the dream.

Maybe if you were to invest in it continuously ever since you discovered it, it may be 5 to 8 years ago, then that’s a life-changing amount.

Many have been successful in crypto and achieve financial independence but always know that their struggles before achieving that goal is never easy. It’s really a matter of hardwork and resilience, and of course patience as crypto is very unpredictable. And it’s very important that you are investing in the right projects, because that will give you decent amount of profits. Otherwise, if you trust the wrong projects, you will only lose your money and you may be discouraged to invest again.

People should remember that it is not a walk in the park to earn profits in this market.
Also, some have the concept of getting rich fast when you get involve in this, not knowing that there's more than meet the eyes here.
It doesn't mean also that at your first crypto investment, will give you tons of profits, which I believe some newcomers have that mindset.
Once they are in this market, they will soon understand that it is hard work, patience, and your initial funds that will give you an edge to attain your targets.

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

Given these factors, the dream of financial freedom can come true by using crypto currency?

Yes but it will take more time because cryptocurrency is not an easy rich scheme, many spend a lot of time on this before they achieve success.

You can earn more once you are more consistent in what you are doing, and doing your best all the time can help you reach your goal. Learn more, and stay discipline because in cryptocurrency those who became greedy can lose everything, just know your strategy very well and be committed.

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Quote from: KiaKia on February 12, 2023, 10:12:35 AM

some people turn into millionaires thanks to crypto

You know, its quite easy to get to that 1 million mark if you are doing pretty well in crypto but to become a millionaire and to live a millionaire lifestyle is a complete different things. You need a whole lot more than just 1 million to live that comfortably lifestyle and in this case it doesnt mean anyone that hit the 1 million mark is financially free at this point unless if you are willing to go down to your usual daily 'normal' lifestyle

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Quote from: crwth on February 12, 2023, 08:41:48 AM

From what I have seen in the news and also in the forum some people have met their life savings into crypto, and they have managed to be those people who have reached financial independence with the correct and lucky choice of project.

As long as you have gained profitable results in the investments that you have done with crypto, I think that’s going to be already the dream.

Maybe if you were to invest in it continuously ever since you discovered it, it may be 5 to 8 years ago, then that’s a life-changing amount.

Many have been successful in crypto and achieve financial independence but always know that their struggles before achieving that goal is never easy. It’s really a matter of hardwork and resilience, and of course patience as crypto is very unpredictable. And it’s very important that you are investing in the right projects, because that will give you decent amount of profits. Otherwise, if you trust the wrong projects, you will only lose your money and you may be discouraged to invest again.

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

The popularity of crypto currencies has been on the rise in recent years and many people are drawn to them as a means to achieveing goal of financial freedom.
Additionally, the decentralization and global nature of crypto currencies like Bitcoin, Ethereum and others, have made them an attractive option for those who want to take control their financial future and want to avoid traditional banks and financial institutions. They can also provide hedge against inflation and currency devaluation.

Given these factors, the dream of financial freedom can come true by using crypto currency?

Yes, it's totally possible, but... as time goes, you need a bigger investment to receive significant gains and life-changing generational wealth. More and more billionaires, corporations and countries are buying Bitcoin. Back in 2011 you could have spent several dollars and become financially independent by now. Now you have to invest thousands and tens of thousands to achieve the same results. Bitcoin is growing mature.

panganib999

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I have a friend who started investing in crypto as early as 2015, when few people know what bitcoin is. He banked on the infancy of the industry and cashed in big when bitcoin broke out and went to the moon. Now under normal circumstances everyone who got a taste of that kind of success will simply ball out until they lose all their investments on booze, girls, and things that hold no value, but this man made sure he wouldn't go that way, he learned financial literacy, surrounded himself with people that are worthy of his time, and expanded all his avenues to make sure he's not stagnated to one knowledge base/skillset.

Is it possible to achieve financial success in crypto? Yes. Millions of people owe their success to crypto. But what sets them apart from those who really succeeded is discipline and financial literacy.

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Quote from: hugeblack on February 12, 2023, 07:49:03 AM

Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

Given these factors, the dream of financial freedom can come true by using crypto currency?

The answer will vary depending on the country, age, current job and your definition of financial freedom.
Achieving a return of 100 dollars is a large amount in countries and an amount that is more than normal in other countries, and therefore, just as if you are still in your parents’ house, it is different from if you are alone and responsible for the cost of your life from a person who has a family and children.

Financial freedom means continuity of learning, otherwise they are just illusions that we try to believe.

I am just guessing that financial freedom might mean having enough money or income that is enough to provide the basic needs of life. It could also mean your ability to control you investment and money without interference of either individual, corporate bodies or government. Bitcoin cannot make one rich overnight because the Bitcoin investment sector needs a lot of time a patience. One can become wealthy trading bitcoin and other currencies. Like in my country where our currency has almost lost 80% of it's value, people had to use Bitcoin as a hedge against and it really helped some to save against hyperinflation.

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With thought and smart work one can attain financial freedom through cryptocurrency because the cryptocurrency industry y y is a young and growing industry that needs a lot of work to be done properly such as mining and trading, both are the ways through which anyone with the necessary skills and experience can generate passive income.
-financial freedom encompasses a lot of aspects that need intense efforts to stay above the daily bills that can consume all your earning if your production is lower than your consumption level e.g if you living with your family and have a lot of bills to pay from your revenue.
-financial freedom also demands consistent learning and building knowledge that will sustain you for a long period and this can only be guaranteed through bitcoin and not all cryptocurrencies.

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That's a tough task to accomplish if you ask me. While everyone can make money on cryptocurrency, making the streams of money stable is pretty hard unless you do it full time. Well, even in full-time you'll find a hard time posting profits if you're not really a trained trader. You might make some dollar or two here and there but you'll never really beat the market if you're not trained to look out for signs.

It also helps that you already have the capital to buy cryptocurrencies and just hold on to them, although this one is kinda dull because you just let your money sit for extended periods of time with the possibility that you'll gonna lose your money in a flash.

taufik123

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Many people think that using cryptocurrencies like Bitcoin can provide greater financial freedom. This is because cryptocurrencies are not bound by governments or central banks and are widely accepted around the world.
Therefore, cryptocurrency users have more control over their finances and are less dependent on traditional financial institutions.

Bitcoin's creator, Satoshi Nakamoto, seeks to give power back to the people. There are no regulations, sanctions, or bans that can stop people from using Bitcoin as money. Beyond that, a calculated investment in Bitcoin could potentially bring people closer to achieving their dreams of financial freedom.

Quote from: boyptc on February 12, 2023, 02:12:46 PM

-snip-
This is the image that I've found though.
[image]
Looking at the image gives the idea on what we can really achieve with bitcoin. With all the inflation and stuff that we're dealing with from time to time, there goes bitcoin that are giving that sense of freedom financially.

Bitcoin has a stable inflation rate and can protect the value of money from falling in value due to inflation. This makes it an attractive alternative for people who want to achieve financial freedom and protect their wealth from currency devaluation.

Here's a more recent picture that corresponds to the Bitcoin History

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I don't want to say that I was financially free when I was in crypto, but as long as I was here from a few years ago until now at least I have enough for my life with my small family now with wife and children.
That I think is a pretty good achievement for me personally because indeed when we say less we will definitely continue to feel lacking but when in crypto at least my little family and I can buy what I need and what I want then that's enough for me.

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

Given these factors, the dream of financial freedom can come true by using crypto currency?

Yes, it is possible for individuals to achieve financial freedom through the use of cryptocurrencies. As you mentioned, the decentralization and global nature of cryptocurrencies offer a level of freedom and control over one's financial assets that is not possible with traditional financial institutions.
But remember this, cryptocurrency can be a powerful tool for achieving financial freedom, it's important to approach it with caution and as part of a well-planned and well-informed investment strategy.

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

Given these factors, the dream of financial freedom can come true by using crypto currency?

A big yes.

This question made me look for that image that's comparing how much you can buy with certain amount in the past through groceries and with bitcoin.

This is the image that I've found though.

Looking at the image gives the idea on what we can really achieve with bitcoin. With all the inflation and stuff that we're dealing with from time to time, there goes bitcoin that are giving that sense of freedom financially.

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