Is It advisable to quit my present job for bitcoin? - page 128.

lazaruseffect11

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

It depends upon the situation. If youre earning money in bitcoin more than your current job, i think you can quit on that job. But if your job pays you higher than you can earn in bitcoin, theres no reason to quit. Stay on your job and earn bitcoin as your part time job. In that way, you can earn more money.

iluvpie60

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

Why would you quit your job?

What if Bitcoin suddenly takes a nose dive and all other crypto goes down in price? If you recall, this happened not too long ago. What will you do then?

It could have easily just stayed where it was. In case you forgot, check it out here.

Take a look at the 1 year view. In a short time it went from 4,700 down to 3,000. A lot of people lost out and sold and panicked.

https://coinmarketcap.com/currencies/bitcoin/

The entire crypto market went down during that time frame, and now it has gone back up again. We still don't know where it will land. The school of thought is that if you are going to quit your job, whatever you are going to be doing in the mean time needs to make double that amount per year you were making at your previous job. That is because most people lose their job at some point and you need extra funds to build up(unless you can move back in with your family)

Yamifoud

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Not really a good idea of leaving a stable job as it will be consider as your passive income monthly. But if your job doesn't give enough salary and considering that bitcoin will give you more than of what you've got from your day job, then it is better to leave. Anyway bitcoin is considered as a job, it differs only the way it works because it was fully only job. But the good thing with bitcoin is that, you can make it anytime at your own choice.

An0nyMoose

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If you have to ask then I will say no because you are not confident enough. I wouldn't have been able to have been confident enough until I got a job that pays crypto FT. Luckily I got one so I was able to quit my job. If you feel you have enough stashed away then that isn't good enough. You need to have something going that will be a solid way for you to earn BTC now and in the future.

White Christmas

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

It depends to your job. If your job doesnt pay you enough money to sustain your daily needs, you can quit. But if your job pays you high amount of money, theres no reason to quit. You can always do bitcoin as a part time job since it dont require too much time and schedule. You just need to be responsible enough to manage your time as well as your money.

AliMan

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

No. Don't quit. Give time yourself to learn about Bitcoin. But it's very hard to find a regular job like what you have right now. Take Bitcoin as your part time job only. Not a full time. Because in bitcoin, You're not always benefit on it. It is a risky business. Much better if you will multitask. Try to manage your time. Explore about bitcoin if you have some time. Bitcoin can wait but if you leave your job, You cannot enter into that job anymore. Its so hard to come back.

zhelis74

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Quote from: googs84 on November 24, 2017, 11:07:00 AM

No never, don’t consider bitcoin as a lifelong source of income. Currencies always are in evolution stage, they get overturned by another currency. Always treat Income generated from bitcin activities as additional income. Bitcoin should never be your primary source of income. Bitcoin still new currency in this market, it will time to settle. Due to limited supply and outpouring demand it become the most volatile currency. Its prices fluctuate with large numbers. So even if you suffer loses it will get compensated by the income of your permanent job.

I think it is all depends on you because you are the one who knows your situation and status of your present Job, if you you think bitcoin is an opportunity of having a quick financial profit compared to your current salary then why not? Think it twice or more if you are willing and have the courage to gamble the situation and you must have always a contingent action plan if ever your decision fails.

xenxen

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no dont lose your job observe first if your income in bitcoin os stable go for the quit.. but for me its better to do both still working while i do my bitcoin activity.

eCrypto

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btcjocan

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

For me, no. It is not advisable to quit your job for bitcoin especially if the bitcoin you earn is not yet enough for you to depend on it. So be careful when you decide to quit your job. Always remember that regrets is always st the end so it is better if you continue to work in your jib while earning bitcoin because you will receive salary from your job and income in bitcoin. Isn't it good to have it both?

mx667

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Quote from: squatter on November 24, 2017, 04:06:12 PM

Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world... What's your take on this, should I go ahead and quit?

Give it 2+ years of consideration before you make a move like that. If you want to live off trading, you need considerable living expenses put away in the bank. You will have bad trading runs (break-even and losing stretches), and you can't expect to live off your trading capital during those times. During the last bull run in 2013, everyone thought they were a genius trader too. Turns out that it was just a bull market. Once the market rolled over, and the "easy money" stopped rolling in, a lot of these "genius traders" had to go back to their day jobs.

Give it some serious thought, whatever you do.

First of all, I must know first, what is your job to get Bitcoin? What is your work related to Bitcoin? And how much you earn when compared to your daily office work. If Bitcoin does not interfere with your office work, why should you stop? If your office work does not bother Bitcoin, why should it resign? Today, it is very important for us to have more than one source of income, because if this work is a problem, you still have other sources of income. As I see it, you seem to want to be a full-time trader. I do not think that's a bad thing as long as you have other sources of income. That's because trading is a risky job, you can lose and profit anytime. That means trading is not a regular job, and it is an uncertain job.

If you want to get out of your job just because you want to learn more about Bitcoin, I do not think it's a wise move. You can still learn Bitcoin in your spare time.

squatter

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Give it 2+ years of consideration before you make a move like that. If you want to live off trading, you need considerable living expenses put away in the bank. You will have bad trading runs (break-even and losing stretches), and you can't expect to live off your trading capital during those times.

During the last bull run in 2013, everyone thought they were a genius trader too. Turns out that it was just a bull market. Once the market rolled over, and the "easy money" stopped rolling in, a lot of these "genius traders" had to go back to their day jobs.

Give it some serious thought, whatever you do.

Drnice

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

It is not advisable for you to quit your daily job, cause your daily job is still serving a purpose which cannot be attained immediately you start trading. You will have to squeeze out time for your crypto trading.

marriams

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How can you take a decision to quit your job based on the reaction in a forum thread? Cheesy

Why not try to trade first and see if you can earn enough money and than quit your job? If there will be 10 people here advising you to quit the job saying that they earn such a lot of money, are you going to do that?

Karmakid

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Quote from: Prinox2 on November 23, 2017, 09:32:08 AM

Bitcoin trading these days has become so rucreative that I am tempted to quit my present job which is not giving me enough time to explore more out of bitcoin world...

What's your take on this, should I go ahead and quit?

Thanks

you still have to do some job to make money don't depend on bitcoin. Now a days it is hard to find proper jobs, Spare some time in bitcoin but never quit your job. real job is important.

quoc01663916422

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It's up to you, but I find it very dangerous that today it's a difficult job to focus on. You should split the time between work and bitcoin

buxlover

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It is not advisable to loose the job over the virtual things lie bitcoin. They can tend to shut down at any time if the government or financial institute thought so. What would you do in that case and you can t have another job so easily which can ruin your life career. This is why you should not be taking the risk of loosing the job over the bitcoin. However you can do it predominantly if you have back up plans for the life. Like re investing whatever you will earn form the bitcoin into real life business or may be into different stocks or something passive income other than bitcoin. If this happens then only you should be sure about losing your job. There are many people who have already left the job and told their stories on the forum but they had tricks and tips to earn as much as 1K to 2K every other day in reality and that why they were sure about it.

KennyR

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It's good to go full on bitcoin, if you have already made a good earning for your entire living. Because the cryptocurrency network is unpredictable and doesn't get you an sustained earning to run the life. It is good to have a schedule with which you can spend time for bitcoin too rather than going full on bitcoin.

sparveenat

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I also having the same thought but I start earning in bitcoin forum is enough at the moment I am trying to get promotion in higher rank so that the income will increase then I will quit my present job for bitcoin. I believe / think you also do the same to avoid any critical financial issues in your life.

Vitolife

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That would be very risky. I am keeping my job and as I have jumped quite late to the bitcoin. I see bitcoin as form of insurance / value storage for the future - my investment horizon is 5-10 years and I hope that the growth trend would continue with the same pace to get us to 100k USD and up.

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