Topic: Farmer's Bitcoin Investment - page 2. (Read 841 times)

I don't know how likely it is that your story on this topic isn't far-fetched - but I can put that aside and get to the positives only.

Everyone can invest in bitcoin if they have learned what bitcoins are. It is clear that bitcoin can enable investors to earn long-term returns regardless of your educational or work background. But I really find it hard to believe that most of the crop is invested in bitcoin while you need to eat and budget for other needs. Bitcoin investment comes with risks - you shouldn't ignore them so in the end you should only invest what you can afford to lose.

I don't know if that is his case, but usually in rural areas the local community compose associations which reunite for councils every week or once a month to discuss local events and parties to be organized, techniques and workshops to teach association's members new skills and expose them to new technologies which are reaching their areas just now.

So with or without Bitcoin these "co-ops" already exist. Maybe what they did was to introduce Bitcoin to their partnerships as an extra element or bonus... Depending the association, people also contribute with a monthly fee, so they could use part of this fee to invest in BTC.

Although that's most likely the situation that many of them probably haven't heard of what Bitcoin is and whether it is an investment or something they'll benefit in the future. I'm giving that idea that there could be a very few of them that's aware of its existence since I'm also going into places like remote areas and farms and there's connectivity to those areas that I've been. But you are right about that it's unlikely that many of them will dive into this investment especially if that's all that they've got during the harvest time.

If that is the case, he has to use the modern way of farming or he can still use manual labour ( that is take labourers) to farm for him and while he focus on each new business in bitcoin. Mine is, I don't want him to quit farming because if he quit farming because of bitcoin, he will still buy farm products from the money made from bitcoin so instead he should do the two at once. He can engage himself with bitcoin while his labourers work in the farm for him. How do you see that?

He must be tired for sure because farming is not easy and he wanted a life with passive income, which for sure he is planning to migrate to other businesses, but it is really true that farming is really important, but we do have our own dreams like quitting our job now and having a business, but the point really of the OP is investing in Bitcoin because they want profit, which is passive and can add up to their capital, but the problem is that they are more focused on profit and not thinking about the risk.

I will like when bitcoin is narrow down to farming, that is using the profit making from the farm products to invest on bitcoin and use the capital to continue the farming. I will not advise you to quit farming because farming is one of the important department in the society and human life so don't give up and focus on bitcoin. With farming you can save live. Op you and your family do well. Continue the investment of the both assets

Well, but from these levels it would be an X4 or X5, not like changing anyone's life, and even less if you don't want to sell everything.

Stories of this style don't usually stand up to simple mathematical analysis, but the OP's could be real, as between 2019 and 2021 the price went up considerably. His uncle could have made X15 if he bought near the bottom and sold near the top. He could have even sold part of the Bitcoin making a good profit without selling 100% of what he bought.

We will see the future, as I doubt we will have X15 returns in a single cycle. From the current level it would be almost half a million in one cycle. I hope so, but I don't think so.

That simply emphasizes the aphorism – Failure is a bastard. People only want to be associated with success and not failure. Others saw your uncle's success as an achievement they could tap into after they must've shown skepticism while your uncle was starting off with his plan.

It's almost assured that it will happen, except something very unusual disrupts the Bitcoin circle before then. Next year is halving, it's a price chase from there till 2025. I believe Bitcoin will do above $120k in its next all time high expected in 2025.

Congratulations to your uncle, your uncle is a farmer and became successful investing in Bitcoin. You have also invested in Bitcoin at the right time, many experts have opined that the price of Bitcoin will go up a lot in the next 1-2 years. Bitcoin halving day in 2024, after every halving the price of Bitcoin has been seen to increase. Thank you to all the farmers in your area, all of you farmers have formed a cooperative society, slowly saved money and invested in Bitcoin. Keep your investment for a long time, hope to get a lot of profit. Hold bitcoins in a good wallet, not on an exchange.

It is fine when people buy bitcoins with "disposable" money that they do not need for every day expenses, but when you have to take money from the expenses that you have to pay towards the "job" that you are doing that generate an income.... then it becomes a problem.

I buy small amounts of bitcoins from the "extra" money that I have, after I paid my expenses and it adds up to a significant amount... when you buy every month. I hope we will see a Bitcoin price of $100 000... but I will be satisfied with much less, because I am buying at $30 000. 

This is such a very good initiative and a selfless step towards success, especially for the people who are not tech savvy or doesn't even know how to operate a computer or mobile phone. The only thing that I'm concerned with in this kind of investment setup is that, all of these farmers should understand first the risk involved and they should also know the basics of bitcoin, and of course they should also have an access to the bitcoin price. One important thing about having a cooperative is to be transparent all the time to avoid conflicts. Bitcoin and cryptocurrency is a bit complex to understand for the people who do not have background in digital aspects. So, transparency is really a must.

Bitcoin can not help us to earn money.

Bitcoin value and price increases with time because there are developers, business operators, communities that contribute to help Bitcoin adoption. They are people to help us get profit from our Bitcoin investment passively. Without those people who make contributions, Bitcoin value and price will not increase and we as Bitcoin investors will not get any passive profit.

I don't know if this is a problem or not. I don't know if this is wrong or not.

People are telling to people that Bitcoin can earn them money instead of the fact that Bitcoin is just like any other digital currencies out there where you can transact using it. People are sharing the asset-side of Bitcoin rather than the currency-side, and that's why people see Bitcoin more of an asset, and not a currency. Though there's nothing wrong because I look Bitcoin both as an asset, and a currency, but I guess let's teach them the currency-side of it as well, and not only the asset-side shall we?

Well, good for you, and for your community that you have been introduced into Bitcoin, and invested into it.
I just hope that it doesn't end there. I just hope that you, and your fellow farmers will continue to learn Bitcoin, and cryptocurrency in general, so that you can make more money, and learn more from it. I also hope that y'all know the risks that you are facing right now that you invested your money into an asset that's very volatile.

Maybe, maybe not.
What's more important is you know what you will do if the best days come (bull market = selling), and what to do if the worst days come (bear market = buying). Good luck with your investment, and I have a huge respect towards the farmers TBH because I live in a community where most of the people's jobs are farmers. Respect to you all.

Bitcoin investment like other investments will not guarantee us profit, it just gives us a greater chance to get a bigger reward. Other people's success does not mean that we will also be successful, it all depends on the mindset and strategy of each person.

OP setting up a small cooperative for investment is very risky because even he can't guarantee his investment, how can he guarantee the rest? Therefore, the OP should share and highlight the risks they may face. Don't just look at the return but forget the risk, and it can be said that investing in bitcoin is much riskier than the farmer thinks.

Wow such a good story also your uncle friend seems to give detail about profits or losses that can happen in the crypto space I will give him huge applause   In my opinion this is so cool.

Diversify is the key so if I were you I would never left my the main job but keep investing more on bitcoin  . But I think in the future there is one or more people that also dont believe in crypto.

And maybe bitcoin could grow more than 100K in future I mean I hope soo to hehhehe. and yes you can further in agricultural development when keep investing and sell at the peak

This is one of the best story I have ever come across on this forum, farmers engaging in Bitcoin and not minding the risks involved in it but still find time to get better information before investing.
At least your uncle's friend gave him all he needs to know about Bitcoin without hold any back, with this I believe in other region farmers would still want to make the same move your uncle made before hitting his profits.
Is better to know what you're getting into than getting a weak information on where you are to invest your hard earn money, at least we now know that no matter your profession you can still invest in Bitcoin.

First of I hope that every one of those farmer knows the risk of the investment that they would take.
This is how people got screwed before, they would jump in base on someone else successful story not knowing the risk that the person took on his investment.
It is true that those successful stories are truly inspiring for us to invest just imagine how their life change because of crypto, but we also need to face reality that it isn't a quick rich investment and there are ups and downs, maybe some of those stories are just on luck that they got in on the right time.
We need to be aware that this is an investment and we could also lose just like most off the investor here.

Thanks for sharing your story, this is very interesting. I am curious why you formed a “co-op” with your small society of farmers (and perhaps your teacher as well) instead of just investing on your own? I’m just curious as I’m not sure it’s really needed is it?

I would just make sure you’ve asked yourself what are the advantages and disadvantages of forming such a “co-op”.

As a human, everyone has greed and when investing, no one wants to lose money. Many people say they are investing with money they could lose, including you and me. But are you afraid of losing that investment? Definitely yes and you always want to get more out of it. Bitcoin is riskier than many other investments but because its return is very high and all want to risk to get big return to become rich. Isn't that greed?

In this aspect you because most of the people that use Bitcoin use it because it bridges the gap between border to border payments with little transfer fee but if you're talking about investment in Bitcoin I would have agreed with you that most people invest in it because of profit and the major reason why we invest is for the chance of making a profit.

No, it's not everybody who invests in Bitcoin does it out of greed since they didn't invest the amount they can't afford to lose. There's a difference between seizing the opportunity crypto presented instead of going against it as some naive people do.