Can one achieve financial independence through crypto currency? - page 4.

noormcs5

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Quote from: Sayeds56 on March 03, 2023, 07:22:09 AM

Quote from: DrBeer on February 28, 2023, 04:23:27 PM

1. The crypto market is a purely speculative market.
2. In a speculative market - the earnings of some are the losses of others. And I’ll clarify - there are always orders of magnitude fewer “winners” than “losers”
3. In order to trade on the stock exchange, one must have knowledge, experience, a good understanding, and a "feel" for the ongoing changes in the market.

All this together will contradict your assumption that the crypto market is a great place to make money, for everyone. I will not even give statistics and historical indicators of cryptocurrencies. I know that very many have lost money on investments in cryptocurrency trading.

The only thing I can say is that yes, at the moment, you can earn a little and more or less guaranteed on "scalping", constant fluctuations in the rate. And that's not for everyone

Thanks for sharing your insights on this topic. It is true that crypto market is very volatile and speculative and past performance of any project is not indicative of future results. Many people have lost money in crypto trading in particular newcomers who jump in trading business without making their own research and simply follow the advice of their friends and social media influences. For successful trading, it is crucial to make your own research, learn reading technical charts and follow financial discipline.

Even 80 to 90% of the people lose in crypto so how can it be financial freedom? People who think that crypto is an easy money making machine, they are bound to lose money in this market. I must insist that this mind set must change as with crypto you will not get rich overnight.

Yes, bitcoin provides you financial freedom if you have proper knowledge about bitcoin and you know when to invest in bitcoin, how long to hold it, what amount to invest, and have control over your emotions. In that case, bitcoin can provide you with financial freedom.

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Quote from: DrBeer on February 28, 2023, 04:23:27 PM

1. The crypto market is a purely speculative market.
2. In a speculative market - the earnings of some are the losses of others. And I’ll clarify - there are always orders of magnitude fewer “winners” than “losers”
3. In order to trade on the stock exchange, one must have knowledge, experience, a good understanding, and a "feel" for the ongoing changes in the market.

All this together will contradict your assumption that the crypto market is a great place to make money, for everyone. I will not even give statistics and historical indicators of cryptocurrencies. I know that very many have lost money on investments in cryptocurrency trading.

The only thing I can say is that yes, at the moment, you can earn a little and more or less guaranteed on "scalping", constant fluctuations in the rate. And that's not for everyone

Thanks for sharing your insights on this topic. It is true that crypto market is very volatile and speculative and past performance of any project is not indicative of future results. Many people have lost money in crypto trading in particular newcomers who jump in trading business without making their own research and simply follow the advice of their friends and social media influences. For successful trading, it is crucial to make your own research, learn reading technical charts and follow financial discipline.

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Quote from: AnonBitCoiner on February 26, 2023, 11:15:50 AM

cryptocurrency trading is very beneficial but for it there is needed some amount of money because you can make money by using money. If a person have money so I will suggest that never use your whole money as investment because investment is not that thing which will surely help you in enhancement of profit but if you decide wisely and grip coin like Ethereum and bitcoin for at least three or four year so yes it's true that it will enhance your chances of earning.

nowadays There are not such jobs which can provide you huge money for the successful life so crypto trading will help you in this case. Individuals are getting cash through trading and investment in various coins but successful rate depends completely on selection of coins.

I want to remind you:
1. The crypto market is a purely speculative market.
2. In a speculative market - the earnings of some are the losses of others. And I’ll clarify - there are always orders of magnitude fewer “winners” than “losers”
3. In order to trade on the stock exchange, one must have knowledge, experience, a good understanding, and a "feel" for the ongoing changes in the market.

All this together will contradict your assumption that the crypto market is a great place to make money, for everyone. I will not even give statistics and historical indicators of cryptocurrencies. I know that very many have lost money on investments in cryptocurrency trading.

The only thing I can say is that yes, at the moment, you can earn a little and more or less guaranteed on "scalping", constant fluctuations in the rate. And that's not for everyone

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Quote from: AnonBitCoiner on February 26, 2023, 11:15:50 AM

cryptocurrency trading is very beneficial but for it there is needed some amount of money because you can make money by using money. If a person have money so I will suggest that never use your whole money as investment because investment is not that thing which will surely help you in enhancement of profit but if you decide wisely and grip coin like Ethereum and bitcoin for at least three or four year so yes it's true that it will enhance your chances of earning.

nowadays There are not such jobs which can provide you huge money for the successful life so crypto trading will help you in this case. Individuals are getting cash through trading and investment in various coins but successful rate depends completely on selection of coins.

I agree that it is quite tough to find a job that will give you enough money to live a very rich life, as a "job" you are employed by someone and that means you are going to make very little compared to executives and owners, and that is why you should be staying away from it as much as you possibly could.

If you have your own business, then it could be better than investment, instead of buying bitcoin, you could buy a machine that makes you even more profit, that is understandable. However, if you are a worker, then trading bitcoin on the side could give you that extra push that you need and it could definitely help you with what you are trying to achieve.

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Quote from: Theones on February 26, 2023, 11:10:39 PM

Quote from: AnonBitCoiner on February 26, 2023, 11:15:50 AM

cryptocurrency trading is very beneficial but for it there is needed some amount of money because you can make money by using money. If a person have money so I will suggest that never use your whole money as investment because investment is not that thing which will surely help you in enhancement of profit but if you decide wisely and grip coin like Ethereum and bitcoin for at least three or four year so yes it's true that it will enhance your chances of earning.

nowadays There are not such jobs which can provide you huge money for the successful life so crypto trading will help you in this case. Individuals are getting cash through trading and investment in various coins but successful rate depends completely on selection of coins.

Sometime the market and the investor gives you wrong idea. I invested in Luna sometime ago and it was utter disaster
My friend suggested that we must invest all our saving in LUNA and that we did. We were hospitalize for a week after the loss.

You totally deserve it. I cannot sympathize with you because you invested with a greedy mindset. You didn't do your own research before investing, and you invested with all the money you had. That is really an insatiable greed and you will have to suffer the consequences for your greed.

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Quote from: Sayeds56 on February 27, 2023, 02:40:42 AM

Quote from: Theones on February 26, 2023, 11:10:39 PM

Sometime the market and the investor gives you wrong idea. I invested in Luna sometime ago and it was utter disaster
My friend suggested that we must invest all our saving in LUNA and that we did. We were hospitalize for a week after the loss.

I am sorry to hear about the negative experience you had with your investment in LUNA, which was one of the biggest disaster in crypto space that caused significant losses to millions of investors all over the world. It is important to remember that every investment is associated with certain degree of risk, and investment ideas coming from friends or investors can be intriguing, but You should make your own research, keeping in view your investment goals and financial circumstances before making investment decision.

In addition to investing on the advice of others, he made the equally fatal mistake of investing all of his savings in Luna. In that case, even if it is bitcoin, it is not advisable to invest with all the money we have. It is an expensive lesson for our greed, we need to know that greed never brings good results. When investing you should only invest with money that you are willing to lose and always be ready to take the risk if it occurs, otherwise you shouldn't invest at all.

Sayeds56

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Quote from: Theones on February 26, 2023, 11:10:39 PM

Sometime the market and the investor gives you wrong idea. I invested in Luna sometime ago and it was utter disaster
My friend suggested that we must invest all our saving in LUNA and that we did. We were hospitalize for a week after the loss.

I am sorry to hear about the negative experience you had with your investment in LUNA, which was one of the biggest disaster in crypto space that caused significant losses to millions of investors all over the world. It is important to remember that every investment is associated with certain degree of risk, and investment ideas coming from friends or investors can be intriguing, but You should make your own research, keeping in view your investment goals and financial circumstances before making investment decision.

Theones

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Quote from: AnonBitCoiner on February 26, 2023, 11:15:50 AM

cryptocurrency trading is very beneficial but for it there is needed some amount of money because you can make money by using money. If a person have money so I will suggest that never use your whole money as investment because investment is not that thing which will surely help you in enhancement of profit but if you decide wisely and grip coin like Ethereum and bitcoin for at least three or four year so yes it's true that it will enhance your chances of earning.

nowadays There are not such jobs which can provide you huge money for the successful life so crypto trading will help you in this case. Individuals are getting cash through trading and investment in various coins but successful rate depends completely on selection of coins.

Sometime the market and the investor gives you wrong idea. I invested in Luna sometime ago and it was utter disaster
My friend suggested that we must invest all our saving in LUNA and that we did. We were hospitalize for a week after the loss.

AnonBitCoiner

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cryptocurrency trading is very beneficial but for it there is needed some amount of money because you can make money by using money. If a person have money so I will suggest that never use your whole money as investment because investment is not that thing which will surely help you in enhancement of profit but if you decide wisely and grip coin like Ethereum and bitcoin for at least three or four year so yes it's true that it will enhance your chances of earning.

nowadays There are not such jobs which can provide you huge money for the successful life so crypto trading will help you in this case. Individuals are getting cash through trading and investment in various coins but successful rate depends completely on selection of coins.

MoonOfLife

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Quote from: Sayeds56 on February 23, 2023, 04:59:59 AM

Quote from: Altryist on February 22, 2023, 10:29:31 AM

That's right, there are different ways to achieve financial independence, and it's good if we move in several directions to achieve our goals. Can this be achieved with cryptocurrencies alone? I think yes, there are many examples of this, it all depends on many factors, but most of the stories that brought great profits were about the hold, so we draw conclusions and buy bitcoin for the long term.

It is true that there are many avenues to achieve financial freedom apart from crypto currencies, but as it is a new and fast growing and developing industry that experiences technological advancement at an accelerated pace. As a result, the like-hood of achieving success in this industry is significantly higher than other fields.

Totally agree, there are thousands of ways to achieve financial freedom, but it will be very difficult to get rich with traditional jobs or traditional investments. But with bitcoin and cryptocurrencies where we can find investments that can give thousands of percent returns in a short time. It is clear that cryptocurrency is a better option than many others.

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Quote from: Sayeds56 on February 23, 2023, 04:59:59 AM

Quote from: Altryist on February 22, 2023, 10:29:31 AM

That's right, there are different ways to achieve financial independence, and it's good if we move in several directions to achieve our goals. Can this be achieved with cryptocurrencies alone? I think yes, there are many examples of this, it all depends on many factors, but most of the stories that brought great profits were about the hold, so we draw conclusions and buy bitcoin for the long term.

It is true that there are many avenues to achieve financial freedom apart from crypto currencies, but as it is a new and fast growing and developing industry that experiences technological advancement at an accelerated pace. As a result, the like-hood of achieving success in this industry is significantly higher than other fields.

Yes there's much chances of achieving financial freedom through Crypto but it's not always the case as we can't depend on it entirely, human wants grow by the day and these wants wouldn't be static waiting undemanding while you're waiting for a supposed long term crypto investment you're holding waiting for a bull to come forth and that's why I said we can't depend on crypto entirely for financial freedom it's more better of a freedom when we also diversify in our sources of income plus crypto.

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

They can also provide hedge against inflation and currency devaluation.

This alone allows for Bitcoin to provide financial freedom. It's hard to see anyone content with the current inflation rates for major currencies and to recognize the systematic reduction in purchasing power and incorporate crypto into your currency holdings is about the greatest independence you can gain.

I'm not knocking fiat itself. It's the controlling powers that operate at the big banks who manipulate the currency for their own gain. If fiat currency had physical backing, I wouldn't be so opposed to holding it.

Of course, that's not the world we live in.

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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?

Nothing is promised. However, it is possible because there is no reward without risk. Isn't it? To achieve financial independence, you have to be ready to put in the work and be patient and consistent. You have to know that, since Rome wasn't built in a day, it will take some time. Here are some practical ways to achieve financial independence, but they require a huge amount of risk:

1. Trading: You could learn crypto trading and, with time, trade cryptocurrencies.
2. Peer-to-peer exchange: In my country, where bitcoin is banned, we exchange our bitcoin for our local fiat through peer-to-peer trade. Some people I know make a decent income from it.
3. Crypto-YouTube Channel and Podcast/Write a Book: You achieve financial freedom by sharing your knowledge and ideas about bitcoin with the world through YouTube and podcasts. You could also write and sell a bitcoin book.
4 Bitcoin lending: Yes, it means what it says. You lend bitcoin and get an interest payment on repayment.
5. Bitcoin mining.

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Quote from: Cryptomultiplier on February 22, 2023, 04:23:28 PM

The same rules that apply to real life sowing and reaping seasons, as well as times where loss is counted, applies to everything cryptocurrency concerned, because, it is what you give your interest to, that grows. I have seen people who make a living trading cryptocurrency and some are married. I, at some point in my life had to rely on proceeds from the investment of my time and resources in cryptocurrency. It paid well.
Anyone who is looking for more freedom from a white or blue collar job so as to focus on dreams or studies can delve in based on the topic of interest in cryptocurrency. It could be trade, or services, or affiliated work. If it can be related to cryptocurrency and an investment can be done, anyone can sure achieve financial independence with the right knowledge and application of technic of crypto currency. A mentor is also adviced at an initial stage.

Although cryptos are digital, investing on them are still done in the real world. There is this saying that when you plant something, you can also harvest something. This is true and this was the concept of saving/investing. It's not always a good time but there are times where the market is in bad shape so our money might drop but there is still a chance for it to recover as long as we don't lose our hope. A married life is tough but it's impressive when someone can rely only using crypto.

I think these people are earning huge amounts already. It can be through trading cryptos if not from investing. It's not wrong to rely on it as long as you know that you can survive for a long time with the money/profits that you already have in your hands. Hiring a mentor is okay as long as you have an extra budget and you think learning on your own is hard.

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Everyday in my locality crypto currency is one of the trends today I hear most people talking about crypto currency how it has make them achieved there financial freedom in life,buying different products here online with the BTC in there wallet where they do transaction without second or third party or monetary regulatory system like the central government, is in did a welcome development to the global world today I am trying my possible best to campaign more in my locality to create more awareness about this trend.

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Quote from: Altryist on February 22, 2023, 10:29:31 AM

That's right, there are different ways to achieve financial independence, and it's good if we move in several directions to achieve our goals. Can this be achieved with cryptocurrencies alone? I think yes, there are many examples of this, it all depends on many factors, but most of the stories that brought great profits were about the hold, so we draw conclusions and buy bitcoin for the long term.

It is true that there are many avenues to achieve financial freedom apart from crypto currencies, but as it is a new and fast growing and developing industry that experiences technological advancement at an accelerated pace. As a result, the like-hood of achieving success in this industry is significantly higher than other fields.

Cryptomultiplier

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The same rules that apply to real life sowing and reaping seasons, as well as times where loss is counted, applies to everything cryptocurrency concerned, because, it is what you give your interest to, that grows. I have seen people who make a living trading cryptocurrency and some are married. I, at some point in my life had to rely on proceeds from the investment of my time and resources in cryptocurrency. It paid well.
Anyone who is looking for more freedom from a white or blue collar job so as to focus on dreams or studies can delve in based on the topic of interest in cryptocurrency. It could be trade, or services, or affiliated work. If it can be related to cryptocurrency and an investment can be done, anyone can sure achieve financial independence with the right knowledge and application of technic of crypto currency. A mentor is also adviced at an initial stage.

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Quote from: kamvreto on February 20, 2023, 11:30:57 AM

luck will also be obtained for those who dare to take risks. Crypto investment has a greater risk compared to other investments. But really to note, the investment made must use money that is not used for other needs.
those who are still hesitant to enter into crypto investment will certainly not have the opportunity to get bigger profits. It's risky, but you need to learn so you can minimize the risks that will occur.

It would be a big mistake to invest using money that should be used for daily needs. I really don't recommend this, because as you said investing here is very risky and you have to use money that is specifically devoted to investing. We do have to take big risks when deciding to invest, but that doesn't mean we have to sacrifice money for our necessities of life. Instead of making us profitable, it will frustrate us when the market is not in good condition, because besides we will experience losses we will also be confused with the money we use because we have to replace it as soon as possible.

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Quote from: Marvell1 on February 22, 2023, 08:45:20 AM

Cryptocurrencies are not the only way to earn big profits or the only way to achieve financial freedom. There are many ways to achieve financial freedom that we have not found or they are not suitable for us. Do not forget that the billionaires they do not need Bitcoin still become billionaires. Any investment can help us achieve financial freedom, they are just a means, and whether we can achieve financial freedom or not completely dependent on us.

That's right, there are different ways to achieve financial independence, and it's good if we move in several directions to achieve our goals. Can this be achieved with cryptocurrencies alone? I think yes, there are many examples of this, it all depends on many factors, but most of the stories that brought great profits were about the hold, so we draw conclusions and buy bitcoin for the long term.

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Quote from: kamvreto on February 20, 2023, 11:30:57 AM

...
those who are still hesitant to enter into crypto investment will certainly not have the opportunity to get bigger profits. It's risky, but you need to learn so you can minimize the risks that will occur.

Cryptocurrencies are not the only way to earn big profits or the only way to achieve financial freedom. There are many ways to achieve financial freedom that we have not found or they are not suitable for us. Do not forget that the billionaires they do not need Bitcoin still become billionaires. Any investment can help us achieve financial freedom, they are just a means, and whether we can achieve financial freedom or not completely dependent on us.

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