Can one achieve financial independence through crypto currency? - page 7.

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

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

In my opinion, it is not easy to reach financial freedom by investing some money in Bitcoin and some major altcoins and waiting for them to appreciate. In fact, mass adoption is not yet complete. So, a few decades from now, we might find today's prices funny. However, when I am realistic, I think that it is not very possible to achieve financial freedom by investing some money in Bitcoin and some major altcoins. Maybe you can achieve this if you trade like a stockbroker.

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Honestly I think it's all heavily depends on the fact of whether you could really make money through cryptocurrencies or not, there are many ways of course in generating profit like investing and trading.
but the thing is, whether you could make profit from such way is entirely different thing.
I believe that the only thing that could make you financial independent would be making so much money then becoming rich, that's common sense but very few could actually make it that big.
just find a way to make yourself rich then you'll easily become financial independent, the key is becoming rich.

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Financial independence in a spherical vacuum is not so important in itself if all your finances are spent on basic physiological needs. Financial independence is when you have the necessary amount of finance that you can dispose of at your discretion, and of course, the more ways there are to do this, the better and cryptocurrencies are an additional way to ensure this. But I repeat once again, for financial independence, finances themselves are needed, and the more, the better Wink

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Quote from: Rengga Jati on February 15, 2023, 04:40:12 PM

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?

Financial freedom or independence includes several elements, not only the current wealth that we have but also some other aspects. The financial freedom indicators may be also different from each other depending on how someone will manage their finances and other conditions of the economy.
Someone sometimes is said as financial freedom if they have not only what they need for life but also have no hard thoughts again for their future. there must be a certainty for them to life in this world without any worries about their money or wealth being erased or bankrupt. There must be a condition where they have active and passive incomes. If they enjoy the life with exact money and wealth that they have, we may feel about financial freedom. Moreover if we have many investments not only in crypto, but also in property, stocks, gold, and others.

When we are on that situation where financial independence then it is automatically that we would really be putting up something for our future.The most important thing that you would really be minding is on the current
condition that you are facing on.If ever you would be able to sustain it out then you could really be that so sure that your future would already be secured.Some people would be even thinking on scattering out their
assets or earnings into various possible potential income generating businesses or investment to widespread out more the opportunity on earning more.
We are all aiming for the same target or motive in life, there are really just situations which people turns out to be unsuccessful if ever they would really be making out some attempt.

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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?

I know it’s possible because a lot of people that are into crypto before are now experiencing financial security and financial freedom. Especially in times of endless inflation, the more that we should have crypto hodlings instead of focusing on fiat alone. But always know that crypto has also its own risks that’s why we should first study and learn about it before we let ourselves engage into bitcoin or any cryptocurrency.

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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?

Financial freedom or independence includes several elements, not only the current wealth that we have but also some other aspects. The financial freedom indicators may be also different from each other depending on how someone will manage their finances and other conditions of the economy.
Someone sometimes is said as financial freedom if they have not only what they need for life but also have no hard thoughts again for their future. there must be a certainty for them to life in this world without any worries about their money or wealth being erased or bankrupt. There must be a condition where they have active and passive incomes. If they enjoy the life with exact money and wealth that they have, we may feel about financial freedom. Moreover if we have many investments not only in crypto, but also in property, stocks, gold, and others.

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Crypto investment alone can't fully provide us with financial freedom but at least this could help us to improve our finances a little bit. So, if we think about getting rich from here, I'm not saying it was impossible but it probably will take many many years before it happens. In order to have financial freedom, we much urge ourselves to acquire more investments, we need more sacrifices to get there. But if we don't have the courage to risk more money and become patient, this is just a dream, and no way to reach it.

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Quote from: jrrsparkles on February 15, 2023, 03:12:08 PM

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?

I would say having bitcoin will make you richer if price went high in future and that's the case we call financial freedom if I am not wrong.

Not many just everyone is running everyday to achieve their financial goals and it varies from one to another, hoarding bitcoin is one way to do it but to make all this happen we need to know how to monetize our skills and market it to wider audience further gradually.

You would get rich but depending on how much you had invested but im not really that too positive considering that we arent be able to see huge multipliers of your investment with bitcoin.For some percentage then

yes but for how many folds then it wouldn't.This is why people would really be tending to touch up into altcoin because they do really mind off on getting able to hit multiple folds of their investment and this is why
people do choose up this path.You could really achieve financial independence through crypto if you would really be able to hit the right project.

Its not really that simple though because it would really be requiring that extreme analysis and of course the risk taking you should be doing.

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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?

I would say having bitcoin will make you richer if price went high in future and that's the case we call financial freedom if I am not wrong.

Not many just everyone is running everyday to achieve their financial goals and it varies from one to another, hoarding bitcoin is one way to do it but to make all this happen we need to know how to monetize our skills and market it to wider audience further gradually.

ginsan

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that can be done if someone wants to be financially independent if he is truly independent in managing his financial management in every aspect in the crypto sphere. But op should give a more detailed question in this thread because if you ask someone can achieve financial independence of course everyone can achieve it all because crypto work can be done on the side meaning that someone can take advantage of free time to trade and follow airdrops that are spread on social media.

In addition, people will achieve independence in this life if they are no longer dependent on their parents in every aspect of their needs.

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Quote from: cafee_orange on February 15, 2023, 04:25:54 AM

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?

In my opinion, it's only in their mindset and how they use the Crypto they have, someone will achieve financial freedom if they know how to use their Cryptocurrency perfectly, and they will fall back into poverty if there is an error in using their Crypto too. I think Crypto is just the object, if the management is correct then that person will achieve financial independence through digital currency.

That is true, people need to learn that crypto is not the saviour all by itself, what you do with it could be a saviour though. If you know how to use it and you know how to make some money from it, then you could definitely make some big changes in your life and have the financial independence everyone talks about.

I think I will never have it, because I am always scared of going back down to poverty and maybe that is a good reason why people fail to avoid it, because they are not afraid. I have seen too many people who keep buying liabilities that makes them poorer, and there is no logical argument on why you would do that if you want more money.

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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 good news is that more services are adding crypto currencies to their payment options. This will facilitate the use of crypto currencies to pay real life expanses, which results in increasing the freedom everyone could get by using crypto. When you have the control over your assets, and in the same time have the ability to spend them on services you need, you won't be in need for banks or other options. What worries me the most is that banks are trying to control crypto throughout custody services benefiting from the widespreaded scam and phishing operations.

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Sometimes when we saw someone get their moment (like holding shitcoins and it become millionaire instantly), we have to know that just 1 in a million chance, and we suddenly forgot the fundamental and trying to do the same as the lucky guy.
I think this is everyone's dream at one moment that we could reach freedom of financial with crypto but we have to know that crypto currencies have the potential to provide an alternative means for achieving financial freedom, they also come with significant risks and challenges. It is important for individuals to carefully evaluate their financial goals and risk tolerance before investing in crypto currencies, and to be aware of the potential downsides.

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Quote from: 19Nov16 on February 15, 2023, 08:36:28 AM

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Many have been successful? Meh, I don't believe that conclusion still. I wonder if there is any data supporting that conclusion that there are already people that succeed to it. I cannot even hear nor see any news about it in social media at all.

Sure it is viable for passive income, but it is not going to be the one that surely generates success. If it can make a person successful then why does not everyone just go crypto?

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Quote from: Argoo on February 15, 2023, 09:00:27 AM

If we consider financial freedom as the absence of any intermediaries in transactions, which were usually banking institutions, then indeed, cryptocurrency in this regard helps to achieve such freedom. However, if we consider it as the ability to get enough money with the help of cryptocurrency to feel independent in order to satisfy our material needs, then the situation is much more complicated. Yes, those who acquired bitcoins, ethereum and other top coins at the then low prices in the early stages and held them for a long time made a good profit. But this does not mean at all that this will always happen in the future. Cryptocurrency is very unpredictable in terms of price.

Cryptocurrencies are investment instruments like stocks or forex, all of which are unpredictable. I've seen many people achieve financial freedom by investing in the other 2 markets, there's no reason why crypto can't. All the work or investment that can help us achieve financial freedom, all by ourselves and not because of the cryptocurrency or the work we do.

I have a sister who is an accountant, and she said that the accounting profession doesn't make much money, and her salary is meager. But meanwhile, my company's bookkeeper used to make several thousand dollars a month. Therefore, there is no profession that does not make money, it is just that we do not know how to exploit it effectively.

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Quote from: Jody.Drummer on February 12, 2023, 12:12:11 PM

Financial freedom is the dream of many people and cryptocurrency can be the answer to all of these desires. But we can't pull straight by having that kind of mindset, I mean there's still a lot to learn and not by using cryptocurrencies we can be financially free right away. Sometimes the country where we live will also greatly affect when we want to achieve that freedom.
One of the goals of cryptocurrency is indeed for that, but our mindset must also go hand in hand with that goal.

Yee, you can obtain financial independence through crypto currency if you really know wat you are doing, I know of a friend that has gotten financial independence through crypto currency and he is doing well, like every other business if you tak it serious, hi e it your time and keep on improving every day someday you will have financial independence through crypto currency,
Great men take risk so take risk and invest in bitcoin and who might gain financial freedom sooner than later, who knows.

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Quote from: 19Nov16 on February 15, 2023, 08:36:28 AM

Cryptocurrencies have become valuable and dynamic assets and investments, of course with large capital we can get profits from investing in cryptocurrencies, simple things we can see from daily price fluctuations that can reach 5% so assets automatically increase too, many people have already successful and rely on cryptocurrencies for passive income.

In cryptocurrency if everyone who wants to invest can not only be done with large capital, but with capital that is not too large it can be done because in the cryptocurrency exchange everyone can buy with the smallest numbers. Which means that everyone can buy according to their ability for certain assets and do not have to buy one unit if their ability is only for half a unit. So this is how easy it is to invest in cryptocurrencies because everyone can buy according to their individual abilities without any restrictions to always invest more.

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Quote from: 19Nov16 on February 15, 2023, 08:36:28 AM

Cryptocurrencies have become valuable and dynamic assets and investments, of course with large capital we can get profits from investing in cryptocurrencies, simple things we can see from daily price fluctuations that can reach 5% so assets automatically increase too, many people have already successful and rely on cryptocurrencies for passive income.

Those who do not have large capital can still use crypto as their investment, which is the advantage of crypto. Many people use small money to invest, and they choose coins that suit their money. And there are even those who have invested regularly in bitcoin with the same amount of money every month because they know that the price of bitcoin will increase in the future. This makes them excited to continue their investment because they hope to reach the stage of financial freedom in the future.

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If we consider financial freedom as the absence of any intermediaries in transactions, which were usually banking institutions, then indeed, cryptocurrency in this regard helps to achieve such freedom. However, if we consider it as the ability to get enough money with the help of cryptocurrency to feel independent in order to satisfy our material needs, then the situation is much more complicated. Yes, those who acquired bitcoins, ethereum and other top coins at the then low prices in the early stages and held them for a long time made a good profit. But this does not mean at all that this will always happen in the future. Cryptocurrency is very unpredictable in terms of price.

19Nov16

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Cryptocurrencies have become valuable and dynamic assets and investments, of course with large capital we can get profits from investing in cryptocurrencies, simple things we can see from daily price fluctuations that can reach 5% so assets automatically increase too, many people have already successful and rely on cryptocurrencies for passive income.

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