Topic: Challenge of Bitcoin as the only source of income - page 3. (Read 543 times)

Personally if I am been found in this kind of situation, I will have to look for a way to diversify my investment, may be doing a physical business that will enable me to be going out from the house everyday will solve this biased mindset of many people towards me, I wanted to say that we should be making use of the smartphone or laptop for our Bitcoin activities where people will not see us but the truth is that the environment we find ourselves is full of negativity, there is nothing we can convice them with if we continue staying indoors all the time, they will definitely think that we are into some kind of fraudulent activities thats why i said it is better for us to make use of the profit we made as a bitcoiner to invest in a phsical business that will make us to leave the house on a daily basis may be with this approach people will desist from their unconfirmed suspicion about our source of income.

I have faced same situation you just painted and I can say that the best solution is to travel or rather become a tourist by choice, because people will not stop at just asking, they will also mug you or beat you and steal from you inorder to know exactly how you earn to stay alive and well despite the hard financial demands we are facing in the country.
The worst is if you don't have a physical job they can timeline or timetag based on your appearance on the street on in public places.

I totally agree with you, if we only hope in Bitcoin, we find it to make it through it, that is we find it hard to save or hold Bitcoin as you said.

And we find it hard to survive in terms of emergency, because Bitcoin do fluctuates and at times, we might be having network downtime and we might not be able to get access to it and won't be able to solve our problems then, but having another source of income is very good, so that if one is not doing well or not benefitting at that time, the other one will be benefitting, and it will help and makes it easier for us to save and also save us from going bankrupt, unlike depending or relying on one.

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.

To think bitcoin is a business or a source of income is wrong. You can make money from bitcoin when you hold it or trade it but it should never be relied on as a source of income because the money is not guaranteed, it is volatile and as such anything can happen so you lose when the price drops and gain when the falls. How do you intend to feed during the bear season? Bitcoin was never invented for that purpos,  it was created to serve as an alternative currency for fiat and to give people financial freedom and relief people from the problems of banks, so earning from it is just an extra benefit that comes with it.


People can question themselves all they want, you don’t owe anyone an explanation and since they don’t feed you i don’t see how that should be a problem because it’s non of their business.

A lot of people work from home so you don’t necessarily have to step out to work because we dem get plenty people wey de work online through their phone and devices now and dem de make reasonable money for themselves like content creators, YouTubers and so on. The world don advance now and there will be a lot of changes in our way of life now.

If i find myself in such situations i won’t worry myself and if anyone has a problem with my of life they should confront me. 

this is total bullshit. Bitcoin is not a business and never a career. Regardless of the benefit that comes with being a Bitcoin enthusiast, you don't use that as a justification to assume that you can be a full time bitcoinner for a living. Bitcoin is just a digital financial asset that solves and help reduce the limitation of the Fiat in a manner that it allows the owners to have full conteol of thier funds. If you're talking about trading of Bitcoin for a living then that can be seen as a possible source of income for those that are experienced enough about it.
you must know that you don't owe anyone a single explanation on what you choose to do for a living or how you want to do your work. As long as what you're doing is legit and doesn't involve fraude or violation of others privacy and right, then it shouldn't be a thing of concern what they think about it.

It's not everyone that has to go to work in the morning and come back by night. It's not even about always going to work everyday that makes you a productive individual. If by the requirements of your work you're required to work from home, would you want to dress up in the morning and go outside because you want to impress anybody? I doubt that's the case. If you run broke trying to do what is generally appealing to the public, they will be the same people that will mock you to scorn in the process.

Hustle legitimately and don't give a thing about people have to say about that. People would always talk and you can't do a thing about that. Just be you and do your shit the way it suits you well.

Bitcoin is not a business and I don't see how you can take Bitcoin as a career unless you are into trading Bitcoin which is not also a stable source of income, if you are referring to investing in bitcoin, then the best approach is a long term approach which is to accumulate bitcoin for a long term and allow the value of your sats to compound over time and yield you profits, there are also means that a long term investor can live off Bitcoin by applying raking strategies or monthly withdrawal strategies, you can check it out in JayJuanGee thread in the economy speculation section.

Yes you are very correct because if you use Bitcoin as your source of income without having another source of income it will makes you not hold your Bitcoin for a long term, because normally Bitcoin investment is always good when you have another source of income that we be giving you money every day so that Incase of if you have a emergency you would be able to manage and solved your problem without touching your investment.

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.

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?