The sooner you know that Bitcoin is not the only crypto currency in the market the easiest you know that Bitcoin is not the only meas of making money. But there is one thing that some people get understand wrongly, the thing is that when you are all alone not going to work like others in your vicinity, those same people starts thinking you are into fraud because you are not going to work and you are always at home 24/7. So I am only trying to let you know that you don't even need to tell people what you do before they conclude on their own, and it doesn't matter to them if what they are thinking is right or wrong. It's important to have other investment and not put crypto currency as your only investments, there are other things that can also provide money, both business and other things within.
The diversication of means of income is probably the best thing that one could do for themselves because you don't get to worry much because the money won't be on a stand by and as for crypto investment, I think Bitcoin is one thing I can pick out to make an investment in because every other assets the possibility of getting failure is very high. 
Topic: Challenge of Bitcoin as the only source of income (Read 541 times)
The sooner you know that Bitcoin is not the only crypto currency in the market the easiest you know that Bitcoin is not the only meas of making money. But there is one thing that some people get understand wrongly, the thing is that when you are all alone not going to work like others in your vicinity, those same people starts thinking you are into fraud because you are not going to work and you are always at home 24/7. So I am only trying to let you know that you don't even need to tell people what you do before they conclude on their own, and it doesn't matter to them if what they are thinking is right or wrong. It's important to have other investment and not put crypto currency as your only investments, there are other things that can also provide money, both business and other things within.
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?
So, my question is, what are you going to do if you find yourself in this kind of situation?
First of all not having any other sources of income is really not good for your holdings, because you will have to fall back to your holdings for survival which is not a good idea, as long as you really want to have a good stash of Bitcoin in possession and you are actually thinking long term, not doing anything will make you eat up your investment bit by bit till it runs out.
Secondly, talking about you staying home all day and be doing nothing, bro, we all know the society we find ourselves, especially in Nigeria, once you are at home doing nothing, and you are living a good live, spending extravagantly, you will definitely be seen as a yahoo boy, so in a situation like the one you pointed out, I would advice that you do all your crypto job or anything you are doing online that pays your bills, you do it in the comfort of your home, though I would advice you let one or two people that are close to you know what you does for a living, so that in case of tomorrow, they might be able to speak on your behalf, and even in your absence, but as for the constant pressing of phone, I suggest you do it mostly indoor, so that you won't be seen as a fraudster.
Lastly, control the way you spend money, especially in the presence of those your neighbors, let them not start thinking you are into fraud.
People can still be investing in Bitcoin and still own real life businesses that will also fetch them money for survival and not solely depend on Bitcoin investments alone and when we consider the kind of environment we find ourselves, it is good to also have physical businesses or job even if you're a core bitcoiner because in the country we live, people that sees you doing well without any physical businesses will think you are into fraud but when you engage in some other physical jobs to make ends meet they won't look bad eyes on you.
So far as you are doing genuine works online there is no need to be afraid of anyone suspecting you to be a fraudster but the area I frown at is spending money lavishly because in the environment we live in, if you live so much larvish lifestyle people will start questioning the source of your wealth especially if you are a young person. You can live a low key life while you own a lot of investments. I'm not saying that living a luxurious life is bad but it should be controlled and it's not everything you go public like flaunting your luxury life on social media because those are the medium through which others will be raising suspicion against you if you show off all the time.
so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?
it depends on the type of apartment you leave in; if you're staying in a single room apartment, that will certainly give your neighbors a reason to look into your personal life... Otherwise, what right does anyone have to ask you questions or raise suspicions? If you don't want to be under people's radar, out of the big profit you make, secure a comfortable apartment and make yourself comfortable.So, my question is, what are you going to do if you find yourself in this kind of situation?
Secondly, create other pathways for wealth and resources; remember the rules in creating wealth? "Never you put all your eggs in one basket". Get into some real life business or something; someone can be working for you and that means more wealth.
This is very simple at first you don't need to living a luxurious life or a kind of life style that is too showy to people around you couples with always pressing your phone/laptop on public this gives them the impression that you are doing something illegal to gain money and for that suspicion comes in immediately.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.
You are completely correct, because some people enjoy focusing on other people's lives, and if you are not doing any business to support your bitcoin investments, people will begin to suspect that you are engaging in illegal activities online, and they will tarnish your reputation as a scammer who defrauds people and makes money. That is why anyone investing in cryptocurrency should have another source of income to secure their investment and prevent people from accusing them of fraud online, as they are conducting a tangible business that everyone is aware of. And everyone who sees him abandoning his lavish life would believe it is a business that is bringing him a large sum of money, expect he will tell them that he is creating more bitcoin. That is why it is important to have other sources of income rather than relying solely on bitcoin. When you make a profit, attempt to start another business so that you are not burdened by people's issues.
One other thing is that a Bitcoin investor or trader who earns majorly from Bitcoin or cryptocurrency investment, should endeavor to dress and conduct their business in very distinctively and distinguished manner from a yahoo yahoo person, so as not to be put in same bracket as an online scammer as be an object of public attention.
For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
You are speaking from the angle of a long time hodler, but you also have to consider the fact that not all bitcoiner are into investing and hodling for long. There are day traders who makes money from bitcoin on daily or weekly basis. Forget it bro there are advanced traders that makes good money from bitcoin trading weekly/monthly, so don't be surprised with what the op is talking about. There are traders who makes millions of Naira if bitcoin makes just 0.5% to 1% upward movement. All investors don't use one strategy, there are those that believe in day trading and there are those that believe in long term hold. So it's just for you to stick to the one that works for you. Moreover there are other altcoins too that investors makes money from and not just bitcoin alone. If you buy bitcoin and Hodl for long that's fine but what about the altcoins? Do you also buy and Hodl them for long? the answer is no, you sell your altcoins and take your profit whenever you see it. It's not only bitcoin that's in the market. For clarification purpose Bitcoin can not be an only source of income, it is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. A person without a job or a source of income can not hodl it, unless he or she has made a lot of money from Bitcoin that they are surviving on. Cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades, there is no guarantee that a person must make money in a trade. It is possible for someone to stay in their house and make money in cryptocurrency, they just need to have funds to trade and invest with. Besides cryptocurrency, people make money in their houses engaging in other businesses like TikTok. As for what people will think about your constantly staying indoors, I believe that so far you're not doing something illegal, then you don't have to worry about it.
Just like you said, it's not advisable to have Bitcoin as your only source of income, especially as a starter. It's best to invest in Bitcoin and allow it to grow over time. When you have an edge in Bitcoin trading and investing, you can then choose to make it a full-time business.
And as for being indoors, people will never stop talking. If you go out often, they'll say, 'Na so so waka wake dey waka, who no watin e dey always go find outside,'.
You should be more focused on learning about Bitcoin, getting a grasp of it, and doubling your investment wisely. The rest shouldn't bother you.
So, my question is, what are you going to do if you find yourself in this kind of situation?
One can't have Bitcoin as his or her only source of income,
Bitcoin is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. If you don't have a source of income like a job you can't invest or hold Bitcoin.
And you talk about using Bitcoin as your only source of income shows that you really don't understand the concept of Bitcoin and I will advise you as a follow newbie to read and learn before posting in this forum.
The only way you can have Bitcoin as your only source of income like you have said is when you have accumulated or have made enough money from Bitcoin even if you are a Bitcoin trader you need to know that cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades.
Bitcoin is not a Ponzi scheme is an investment platform that takes time to bring forth profit and I will advise you again to please go through post in this forum so you can understand the concept of Bitcoin very well.
Bitcoin is a business that a person needs to invest money in on a long term before they can get reasonable returns on investment. If you don't have a source of income like a job you can't invest or hold Bitcoin.
And you talk about using Bitcoin as your only source of income shows that you really don't understand the concept of Bitcoin and I will advise you as a follow newbie to read and learn before posting in this forum.
The only way you can have Bitcoin as your only source of income like you have said is when you have accumulated or have made enough money from Bitcoin even if you are a Bitcoin trader you need to know that cryptocurrency is volatile and even people that are into crypto trading are advised to have other sources of income because of the risks of loses in trades.
Bitcoin is not a Ponzi scheme is an investment platform that takes time to bring forth profit and I will advise you again to please go through post in this forum so you can understand the concept of Bitcoin very well.
This is very simple at first you don't need to living a luxurious life or a kind of life style that is too showy to people around you couples with always pressing your phone/laptop on public this gives them the impression that you are doing something illegal to gain money and for that suspicion comes in immediately.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.
If you must live that kind of life you should look for something else to get yourself backed up, most people don't always understand the language of Bitcoin or cryptocurrency instead they would think is fraud.
You are completely correct, because some people enjoy focusing on other people's lives, and if you are not doing any business to support your bitcoin investments, people will begin to suspect that you are engaging in illegal activities online, and they will tarnish your reputation as a scammer who defrauds people and makes money. That is why anyone investing in cryptocurrency should have another source of income to secure their investment and prevent people from accusing them of fraud online, as they are conducting a tangible business that everyone is aware of. And everyone who sees him abandoning his lavish life would believe it is a business that is bringing him a large sum of money, expect he will tell them that he is creating more bitcoin. That is why it is important to have other sources of income rather than relying solely on bitcoin. When you make a profit, attempt to start another business so that you are not burdened by people's issues.
Bitcoin is a source of income yes very true, but I do not think people should have it as the only source of income, because there are other things to engage in to get more incomes. Of course your neighbors are going to be suspicious of you always staying indoor and living a good life, like financially stable. It is advisable to have other investments apart from Bitcoin, yes you can still invest on Bitcoin and have either a business working for you or any other investment you prefer to engage yourself in.
You are correct. Bitcoin should not initially be considered as the only source of income which raises questions among neighbors. You should keep sources of income that are consistent with your normal behavior, such as alternative employment such as business, part-time jobs, or other occupations that are of a one of a kind identity. As well as the highest tendency to deposit your bitcoins which should be funded from your alternative income. Bitcoin allows you to make huge profits but you have to go through investments which are an alternative source of income for you. However you need to have an alternative income because its value may go down and you may suffer. Overall you should opt for holding Bitcoin as long term holdings allow you to make huge gains.You absolutely correct Bitcoin investment is very nice and cool but that doesn't mean one should dive into Bitcoin Totally and forfeit other investment that can fetch one reasonable amount of money everyday, every week or every month as the case maybe perhaps it is very good to diversify our investment cause you don't know the one that will be more profitable by merely looking at it.
You should continue depositing for at least some more time which is 2 years or more to make the investment of Bitcoin profitable. Attitude is to initially build your portfolio to a decent level and then take advantage of the opportunity to sell at higher prices as you wish. Bitcoin allows you to expand your horizons but you should ensure its proper use which is a long term holding. 
So, my question is, what are you going to do if you find yourself in this kind of situation?
First, my brother if you say bitcoin na source of income then na how you mean? Except na trade you dey trade am then you dey make profit. Like as bitcoin price reach $73k and drop to $60k, that one na $13k difference in profit already but na how you want even take know say e want drop when the current expectations self na say e suppose begin rise more. That is even the challenge with trading. And to talk say na to hodl bitcoin na im be the source of income, omo that one no be true because na just like side pay wey persin fit get from time to time.
So to answer the question about wetin neighborhood go dey think if you dey make money while staying at home. That one no concern anybody and if you no comfortable with am then you fit dey go out from time to time or you open small business wey go also dey carry you go out.
Bitcoin is a source of income yes very true, but I do not think people should have it as the only source of income, because there are other things to engage in to get more incomes. Of course your neighbors are going to be suspicious of you always staying indoor and living a good life, like financially stable. It is advisable to have other investments apart from Bitcoin, yes you can still invest on Bitcoin and have either a business working for you or any other investment you prefer to engage yourself in.
Few years back when I had no idea about Bitcoin existence I have always been suspicious of some of our neighbors they were mostly guys, this guys does not go out they run their generator 247 it never goes off, and should in case it does they always refill it immediately it goes off and starts running it again, they lived a financially stable life without stress. I kept wondering what their source of income was and people around started suspecting that they are into Yahoo business, why because they had no other physical business they do.
Few years back when I had no idea about Bitcoin existence I have always been suspicious of some of our neighbors they were mostly guys, this guys does not go out they run their generator 247 it never goes off, and should in case it does they always refill it immediately it goes off and starts running it again, they lived a financially stable life without stress. I kept wondering what their source of income was and people around started suspecting that they are into Yahoo business, why because they had no other physical business they do.
You absolutely correct Bitcoin investment is very nice and cool but that doesn't mean one should dive into Bitcoin Totally and forfeit other investment that can fetch one reasonable amount of money everyday, every week or every month as the case maybe perhaps it is very good to diversify our investment cause you don't know the one that will be more profitable by merely looking at it.
However, I believe most of the people we say they have money such as Dangote etc. He has different kind of investment cause he believed that some of his investment has the period and season they usually do well I mean bring profit heavily that is why they diversify and that is what ambitious people do. There's this saying that one shouldn't put all his eggs or orange in one basket the reason is that if your basket of eggs should tear definitely all the eggs will fall on the ground and break that is why it's not advisable for one to put all hope in one investment.
Bitcoin is a source of income yes very true, but I do not think people should have it as the only source of income, because there are other things to engage in to get more incomes. Of course your neighbors are going to be suspicious of you always staying indoor and living a good life, like financially stable. It is advisable to have other investments apart from Bitcoin, yes you can still invest on Bitcoin and have either a business working for you or any other investment you prefer to engage yourself in.
Few years back when I had no idea about Bitcoin existence I have always been suspicious of some of our neighbors they were mostly guys, this guys does not go out they run their generator 247 it never goes off, and should in case it does they always refill it immediately it goes off and starts running it again, they lived a financially stable life without stress. I kept wondering what their source of income was and people around started suspecting that they are into Yahoo business, why because they had no other physical business they do.
Few years back when I had no idea about Bitcoin existence I have always been suspicious of some of our neighbors they were mostly guys, this guys does not go out they run their generator 247 it never goes off, and should in case it does they always refill it immediately it goes off and starts running it again, they lived a financially stable life without stress. I kept wondering what their source of income was and people around started suspecting that they are into Yahoo business, why because they had no other physical business they do.
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?
So, my question is, what are you going to do if you find yourself in this kind of situation?
Even you as a person will not enjoy only depending on bitcoin investment because when something happens, like a loss, you will find it hard to endure because that is only what you depend on, but that is not what we are to answer. Let's go to the question: as a man in Nigeria who is not going anywhere and is living a comfortable life in such a community, definitely he must be tagged with these two different negative thoughts: either they will say he is a yahoo boy or a ritualist. So to avoid all this, you gave up having a physical business. even though you will have no customers to patronise, just to avoid being a suspect in society.
But to me, I will like to open a boutique where I will be selling shoes or caps, so if I stay there, people will definitely think that that is my source of income. But if you wish to stay without work, then definitely you will always go to the police station to settle different cases, even if you are innocent.
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?
Snubbed them, be vigilant, or have a change of environment to a secure and quiet place where everyone minds their business without poking nosing into other people's business. Our life and business security is what we all should be very mindful of without being struck by the unexpected.So, my question is, what are you going to do if you find yourself in this kind of situation?
Having said that, if you can't afford a place that is quiet or private. Some precautions need to be taken, such as not moving out late at night, not having your bitcoin stored in the phone or laptop that you go out with, having a separate gadget for it(not to move with it or telling anyone that your bitcoin stored on soso gadget).
These days one needs to be wise with their fellow beings. Not to easily open up their bitcoin worth or financial worth to their friends just because they thought their friends couldn't harm them or have them betrayed. Not knowing that it's close friends that kills first than enemies
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose. so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?
So, my question is, what are you going to do if you find yourself in this kind of situation?
Even you as a person will not enjoy only depending on bitcoin investment because when something happens, like a loss, you will find it hard to endure because that is only what you depend on, but that is not what we are to answer. Let's go to the question: as a man in Nigeria who is not going anywhere and is living a comfortable life in such a community, definitely he must be tagged with these two different negative thoughts: either they will say he is a yahoo boy or a ritualist. So to avoid all this, you gave up having a physical business. even though you will have no customers to patronise, just to avoid being a suspect in society.
But to me, I will like to open a boutique where I will be selling shoes or caps, so if I stay there, people will definitely think that that is my source of income. But if you wish to stay without work, then definitely you will always go to the police station to settle different cases, even if you are innocent.
There are sometimes even you don't tell them they will still know unless you don't have people around your. Those who are close you probably you have told them and those people will also tell another person and from there news fly and spread. And naim make the information wey you never tell people naim be the secret you have and once you tell one person then e no be secret again. No trust anyone.
Bitcoin nis not a forbidden thing or digital currency in the country just dat di government want to collect tax from it but dem never know how to do am so nai make dem dey do all dis obnoxious law to ban di digital currency from some online Banking and dat one na di commercial banks dey do am because boys w no dey use main banks again. Telling people what you do if it is not illegal then it is not bad. Telling people that you are into buying and selling of bitcoin. It is not bad idea and it might bring customers to you as well.
Bitcoin nis not a forbidden thing or digital currency in the country just dat di government want to collect tax from it but dem never know how to do am so nai make dem dey do all dis obnoxious law to ban di digital currency from some online Banking and dat one na di commercial banks dey do am because boys w no dey use main banks again. Telling people what you do if it is not illegal then it is not bad. Telling people that you are into buying and selling of bitcoin. It is not bad idea and it might bring customers to you as well.
Bitcoin is a genuine and financial intensive business that has the potential of financial sustainability of a knowledgeable in the Bitcoin system as a career and only source of income but considering the nature of the world we are living today telling people the source of your income is not adviceable for security purpose.
There are many people's that are classified a Bitcoin as their way of success of income, and there are some that don't take it so, but what some people's do is take the money that they earn in this Bitcoin they take it into another way that will generate them money. Because this world is like a ball, it can turn you at any moment since we only know today, but we don't know tomorrow. That's all about this world, which is why some people don't take Bitcoin as their permanent source of income. Actually, not everyone we can tell our way of generating money, but there are some people we've to tell them to avoid them thinking negatively.Quote
so if you are living in environment where people don't know that you are into Bitcoin, they don't see you go out for a job hunt or for business but know very well that you are living average life without financial stress while always indoor that will become to question your source income or start having negative impression about you and your means of surviving.
So, my question is, what are you going to do if you find yourself in this kind of situation?
Since you know where your source of income is coming from, you don't need to worry about what people are going to say about your source of income because you don't know who is after your life or wealth which you need to keep the secret to yourself.
If you don't want to be staying at home for people to think you are not working, you can look for a job that will be allowing you to have time for your BTC business, and it will make people in your environment to conclude the source of your income. I don't care what people will going to say about my source of income, because nothing will make me to tell people in my environment the source of my income because all eyes will be on me in the environment, and It can make me not to walk freely like the way I used to work freely in the environment, because I have exposed my source of income to people.
If you don't want to be staying at home for people to think you are not working, you can look for a job that will be allowing you to have time for your BTC business, and it will make people in your environment to conclude the source of your income. I don't care what people will going to say about my source of income, because nothing will make me to tell people in my environment the source of my income because all eyes will be on me in the environment, and It can make me not to walk freely like the way I used to work freely in the environment, because I have exposed my source of income to people.
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