Topic: Farmer's Bitcoin Investment - page 2. (Read 676 times)

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.

What I want you to understand is that, its very obvious that bitcoin investment is all amount risk purpose and you most be a decision taker before you can invest in bitcoin and propagate, the risk the first farmer took and became propagated for investment doesn't mean that bitcoin doesn't have a disadvantages, so the disadvantages this year might be higher than next year and that is applicable to the advantages, so I believe that bitcoin whosoever investing in bitcoin should learn and know the doctrine of bitcoin before investment,  because if you follow another person way of success in cryptocurrency and invest without understanding the procedures it's obvious the person might end up in losing its bitcoin investment.

'you learn swimming theory first until you master it in detail or immediately practice swimming, the two look different but the goal is still the same'.

often the good things that happen to us come from accidental or also ignorance, this is the reason why each person's sustenance is different and will always be a mystery,

^{(a litte oot)} i still remember very well that there was a young man who accidentally collected dogecoin from faucets and others up to several million coins and when the price of dogecoin rose almost to touch $ 1, he became very rich in a short time.  

bitcoin will always make unexpected things, so it's very important for everyone to start investing in bitcoin from now on slowly, surely your life will change 180 degrees in the future.

maybe the understanding of Bitcoin as a digital currency should also be conveyed to you. and maybe from the farming community in your area, you can develop how to pay for your agricultural products using Bitcoin. you should also know that knowledge.
however, it may be against the regulation in your country. and besides, there are more people around us who know Bitcoin is an investment asset. so they come to invest in Bitcoin not to use Bitcoin.

Rising tides lift all boats. Bitcoin is the tide, farmers the boats. The Bitcoin revolution allows anybody to join and benefit. When an investment pays off, the joy is undeniable. Be joyful, but don't forget certain important considerations. In 2019, Bitcoin was new tech and difficult to grasp and enter. The friend who introduced Bitcoin sparked it. Farmers bought Bitcoin based on this friend's advice. Belief should be emphasised.

However, a warning. As this story spreads, more people may jump in without realising the hazards. Losses can be terrible. Being "lucky" isn't enough. Constructively, I would urge these farmers and anyone investing in Bitcoin to study the market, recognise the risks, and only invest what they can afford to lose.

There is no doubt that bitcoin is a successful asset and if one make investment there is no guarantee that he will surely be a profitable. Copying others is not a good idea because if you blindly follow the path of others without knowing the fact then sometime it will become full of danger for you.

Farmer earn money because of their hard work which a normal person cannot so they should take the decision of investment wisely as if they don't success in such field then all of their efforts will become useless.

Prior to the investment one should realize the reality, basics should be learned and saved some amount for it that will not be utilize for daily expenses.

And the fact is that farmers in the field do not know anything about crypto and Bitcoin and how risky it is.
This is a very sensitive sector and is related to the main income of farmers.
We may be able to explain what the purpose of bitcoin or crypto investment is, but of course, they will not accept the risks that will be caused.

Only farmers who understand and understand crypto technology are able to implement it, but for most small farmers it is just an investment that can be detrimental.
There are even many crypto projects that want to enter the agricultural sector, but eventually have to stop due to lack of interest from farmers.
Crypto is a fairly risky investment, so anyone who wants to enter must know what the risks are and how to get profits.