Meh, without knowing the amount he has to work with $10k could be good, could be normal.
On average in 2013 the price went up by 1% per day if compounded daily. So with $100k you should have $10k more in less than 10 days.
There are plenty of opportunities to make decent money through several different avenues. In this environment it is easy to get a high percentage return. But you have to be ok with the risk. The price could crash while your money is in bitcoins or the price could skyrocket while you're moving fiat.
Topic: Interview with a Bitcoin Trader Making $10,000 a month (Read 2233 times)
How does one even make that much money anymore? Unless there is a huge spike in bitcoin, and you sell it for more
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
I'm not sure what a normal person is exactly, but you do have to have specialized knowledge and skills to handle big bitcoin transactions on a regular basis and not mess up. You don't need to have savings, you can take out a loan. You are not speculating, so a price decline of BTC would not impact the loan. Having a stash of bitcoins would make things far easier though. Otherwise, you will constantly be struggling to avoid being long in BTC, which would make you an unwitting speculator.
Still, it's pretty risky going just to make 10%. The price can take a dive at any time leaving you holding coins no longer worth what you paid. You'd need closer to 50% profit margin given that risk.
How does one even make that much money anymore? Unless there is a huge spike in bitcoin, and you sell it for more
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
I don't think you need a huge price spike to make money. Often people on localbitcoins buy at a much lower price and sell at a higher price than what is on exchanges. Many people would opt for localbitcoins because they can trade in/out for cash instantly, and anonymously. Those are two things exchanges are not best for, so charging a premium is definitely workable. I imagine if you work hard at it you can do pretty well.
How does one even make that much money anymore? Unless there is a huge spike in bitcoin, and you sell it for more
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
Definitively doable for top sellers on localbitcoins, check localbitcoins seller margins...
How does one even make that much money anymore? Unless there is a huge spike in bitcoin, and you sell it for more
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
than you paid for it, how does one even make 10k as a normal person with normal savings? Perhaps day trading between
the other crypto currencies? But then he says just on localbitcoins so I'm confused now...
Guy sounds like a f#*%ing tool imo.
Major fkin tool!
Was recorded on or before Oct 2013.
He-He I see what you did there
$10,000 a month is a lot if you do the maths and also there's so much you can do with the money you have left over, not very many people get that kind of income monthly.
To be honest, 10k$ a month does not sound that impressive to me. Nevertheless, making a constant profit with Bitcoin trading is something you see only rarely
Given the higher price you can sell for on localbitcoins when you have a decent reputation it certainly seems doable to make $10,000 a month. But it also requires a large investment up front. I haven't done the math on it so I could very well be wrong but just off the top of my head you'd need like $100,000 or to start pulling those type of profits right away. 10% profit margin isn't unthinkable on localbitcoins.
If bitcoin price is growing steadily, everyone can trade. High price fluctuations difficult to buy/sell these currencies.
Was recorded on or before Oct 2013.
You know, true or not, $10k a month is very good money but it's not "fuck you" money.
I'm not even sure I'd quit my regular job with an extra $10k a month, though working less hours would be sweet.
I'm not even sure I'd quit my regular job with an extra $10k a month, though working less hours would be sweet.
Sounds all well and good but he should show some proof on top of that 
I think the only way is to be a trader on localbitcoins and found out if this is true. Unfortunately I don't have the patient in becoming a trader on localbitcoins.
Sounds all well and good but he should show some proof on top of that
He said he only got into trading bitcoin in localbitcoins since about 2 months. Now he make $10k a month, so he quit his programming job.
A little shocking, eh? I can admit that I'm a bit shocked (and skeptical).
He said he only got into trading bitcoin in localbitcoins since about 2 months. Now he make $10k a month, so he quit his programming job.
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Don't have sound on my computer, did he say how much he started with? Or was he an early adopter?
Nah, he didn't say. Wasn't a very good or interesting interview to be honest.
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