What should we see bitcoin as? - page 2.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

Bitcoin as a source of income or as an investment plan, which is better?
(It has many advantages and disadvantages, but advantages superceeds the disadvantages). Putting the disadvantages into consideration and as a person that want to lower their risk of loss, will bitcoin be suitable as a source of income (not fully, like part-time job), or investing fully in them and wait for a large profit since many users here in the forum foresee it that, at halving the price always go up above the current All time high.

For now there's no correct answer regarding on what should it be since some might think about this is currency and some call it as investment and it all matters depends on the approach of people. So for now use it depend on what you need since this is what bitcoin about, the important thing there is you earn with it and you take advantage of the benefits what bitcoin can possibly bring to you.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

Yes, Bitcoin is the crypto that's dependable but doesn't guarantee investment return. What provides investment return is your knowledge about how to use the opportunity presented by BTC.

Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin as a source of income or as an investment plan, which is better?

You can choose both or one what's important is what suit you based on financial capacity, knowledge, and control of your emotion ^{aka buzz in gambling}. I have seen some people going into cryptocurrency trading when they don't have the physical and intellectual capacity.

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Quote from: icalical on August 15, 2023, 08:27:11 AM

At the initial launch Bitcoin was never intended for an investment, it should be used as a currency to replace the current fiat in the monetary system. I don't disagree when people see bitcoin as an investment but the time when Bitcoin is an investment will finally over when the original purpose of Bitcoin is fulfilled and people use it as a currency.

True that but people's idea and imagination is vast. People tend to make a certain technolgy a money-making machine, and Bitcoin is not exempted. As a currency just like USD, EUR, and many more, these currencies are not intended to be an investment or source of income but people seeing the fluctuation takes advantage of it and earn through buy and sell.

Others see that a money conversion processing business is a good way to get income from people who wanted to convert their money so they establish it to convert and process money charging some processing fee, and Bitcoin is not different from it. Even micropayment apps are used to get some profit by charging people who wanted to remit money using the micropayment application by charging processing fee.

People can create lots of ideas on how they can take advantage of the opportunity to earn money on everything, so we should not be surprised if they also make lots of ideas on how to earn money through Bitcoin. Exchanges and the creator of Bitcoin transaction processing apps are the best example of these people.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

Bitcoin as a source of income or as an investment plan, which is better?
(It has many advantages and disadvantages, but advantages superceeds the disadvantages). Putting the disadvantages into consideration and as a person that want to lower their risk of loss, will bitcoin be suitable as a source of income (not fully, like part-time job), or investing fully in them and wait for a large profit since many users here in the forum foresee it that, at halving the price always go up above the current All time high.

It could be both. Bitcoin can be a source of income but more likely like a side hustle, and it could be an investment plan too as a lot of us here are profiting from bitcoin investment especially if it’s a long term investment. However, for beginners it’s hard to expect that bitcoin will do the same thing. Gain knowledge and experience first before you can say that bitcoin is way more profitable as a source of income and as a long term investment.

icalical

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At the initial launch Bitcoin was never intended for an investment, it should be used as a currency to replace the current fiat in the monetary system. I don't disagree when people see bitcoin as an investment but the time when Bitcoin is an investment will finally over when the original purpose of Bitcoin is fulfilled and people use it as a currency.

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Quote from: Outhue on August 15, 2023, 01:13:28 AM

Correct, this will only happen when all your hopes are on Bitcoin and you have no other things fetching you some money, this is why it's wrong to invest all you have into Bitcoin if you have no money coming into your bank account every month.

In short, have other ways of making money, if bitcoin goes on a long bear market you won't worry because you are still making money from other things.

This is a lesson that it's hard to learn as a new Bitcoin investor, it only start making sense when the market start looking and getting boring for a long period of time, the type that they aren't prepared for.

Actually most of the people who invest in cryptocurrency and mostly in bitcoin do use all they have to invest in bitcoin and that has been one of the elements or elementary things that make some of the investors to be curious whenever Bitcoin is falling to withdraw whatever they invested. Most of cryptocurrency investors who has experience the nature of cryptocurrency too well are the people who advice the new investors to use their spare money to venture into cryptocurrency investment, because its very obvious that bitcoin investment can result positively or negatively and the profits depend on the turn up of the market. Most the newbie investors do hope that they will benefit from any average investment they venture into.

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Quote from: GeorgeJohn on August 14, 2023, 05:01:52 PM

Quote from: kamvreto on August 13, 2023, 06:37:55 PM

choosing the safe option of making bitcoin a long term Investment Plan will be of benefit to beginners who don't know how to trade or to those who don't want to think too complicated. It is enough to make an investment plan in bitcoin, buy gradually and wait for a high price to sell it. To become the main source of income, you need qualified trade knowledge. The main income is active income and there will be a profit every time you trade.

Do you know that investing in bitcoin for long time still have it own danger or risk as I may say concerning bitcoin, because during the keeping bitcoin for long time the price might drop above the price you bought Bitcoin, what should investors have as options during crypto investment is to know exactly your target and ensure that the price of bitcoin have reached to its target before cashing out, because if you don't have target and have in mind of keeping your coin for long term bearish market might meet with your coin and when you are not patient enough you can sell and end up of losing instead of gaining

Correct, this will only happen when all your hopes are on Bitcoin and you have no other things fetching you some money, this is why it's wrong to invest all you have into Bitcoin if you have no money coming into your bank account every month.

In short, have other ways of making money, if bitcoin goes on a long bear market you won't worry because you are still making money from other things.

This is a lesson that it's hard to learn as a new Bitcoin investor, it only start making sense when the market start looking and getting boring for a long period of time, the type that they aren't prepared for.

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Quote from: kamvreto on August 13, 2023, 06:37:55 PM

choosing the safe option of making bitcoin a long term Investment Plan will be of benefit to beginners who don't know how to trade or to those who don't want to think too complicated. It is enough to make an investment plan in bitcoin, buy gradually and wait for a high price to sell it. To become the main source of income, you need qualified trade knowledge. The main income is active income and there will be a profit every time you trade.

Do you know that investing in bitcoin for long time still have it own danger or risk as I may say concerning bitcoin, because during the keeping bitcoin for long time the price might drop above the price you bought Bitcoin, what should investors have as options during crypto investment is to know exactly your target and ensure that the price of bitcoin have reached to its target before cashing out, because if you don't have target and have in mind of keeping your coin for long term bearish market might meet with your coin and when you are not patient enough you can sell and end up of losing instead of gaining

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Bitcoin is one of the most profitable crypto currency or if not the most globally. Over the years Bitcoin has really grown in value and is been used everywhere even by the government of different states . It is highly volatile i.e it flunctuates over certain periods. But let's not forget about the risk involved too. Without proper knowledge and information, one can easily lose on Bitcoin cause it requires good monitoring. I

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

Bitcoin as a source of income or as an investment plan, which is better?
(It has many advantages and disadvantages, but advantages superceeds the disadvantages). Putting the disadvantages into consideration and as a person that want to lower their risk of loss, will bitcoin be suitable as a source of income (not fully, like part-time job), or investing fully in them and wait for a large profit since many users here in the forum foresee it that, at halving the price always go up above the current All time high.

I agree with the earlier replies, this depends on how well a person is offering his services to earn Bitcoin, selling his products to earn Bitcoin, and how well he manages his investment to take proper profit after hitting the target price.

Both is a good plan but it shines depends on the capability of the person. If a person does not have the talent to do freelancing, then he can just spend some amount to invest in Bitcoin, and hodl it until the target price is achieved. But if the person can do both, I do not think we have to compare which one is better because each one when done can give us a good amount of income and profit.

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Either you see it as source of income or investment plan results are always the same which are to gain some profit. But some people taking BTC as source of value where they could save the value of there assets with time or with inflation increasing. I think that's why the adoption of BTC is increasing over time.

Second, i think those who take BTC as only payment method are also at some profit because even knowing the condition of market and knowing that they are going to be rich in the halving but still paying in BTC or getting payed in BTC. Which indicates the balance still exist amid the number holders are increasing which is a good sign,

Because high demand but less supply do assure us the good profits. I can not agree more with your points because that's are the main points here. One more thing i do not prefer anyone to take BTC as full time hob because that will be loss of time. What a person could do in BTC trading or holding. He will earn more in holding option and in trading option one could definitely spend full time but not in holding. That's why i do not prefer trading in BTC.

Everyone has there own agenda and ideas about BTC but i do agree with all of your points and balance must be kept.

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What I have seen in Bitcoin is that it was purely an investment for me, not a currency. I make money from this which I could say that it even bigger compared to my day job salary. Might you can say it was just a part-time job but for me, it was more than that. But of course, with some limitations and can't guarantee 100% ROI, we should not think about being fully reliant on this. We should not think about Bitcoin as our main source of income, indeed, still our side hustle. It is just an opportunity and we can't assure that this will be a long-term opportunity as we never know exactly the future of Bitcoin.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

Bitcoin as a source of income or as an investment plan, which is better?
(It has many advantages and disadvantages, but advantages superceeds the disadvantages). Putting the disadvantages into consideration and as a person that want to lower their risk of loss, will bitcoin be suitable as a source of income (not fully, like part-time job), or investing fully in them and wait for a large profit since many users here in the forum foresee it that, at halving the price always go up above the current All time high.

Congratulations because you have won your first two merits for a rather poor post but I hope it will encourage you in your journey through the forum.

There is no such thing as Bitcoin as a source of income in the same way that there is no such thing as the Dollar or Euro as a source of income. What do exist are jobs that pay you in Bitcoin, just as they can pay you in Dollars or Euros (technically speaking, there would be a way to lend Bitcoin for interest, but you are not talking about that and it is too risky for the low return they usually give)..

In a good way and wanting to understand benevolently what you mean, I think the answer to the dichotomy you pose is that neither one nor the other is better. The important thing is to accumulate Bitcoin to the extent of your possibilities to ensure a better future. If you do it with fiat money that you earn in your job and then buy Bitcoin or if you do some work in which you get paid in Bitcoin and that at least partly you save it, it is not so important.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

The part of Bitcoin being guaranteed return on investment is true but that will also depend on when the investor is buying or investing in it. Those who invested in Bitcoin in 2021 at its ATH of $68k+ will tell you otherwise because they're in severe loss at the moment. They've to wait till 2024 or so to recup their investment let alone profit from it. So, you see? It's not all roses for Bitcoin investment too. Just know the time and season before diving in.

On my part, to respond to your title topic, I see Bitcoin more of an asset than a payment option or any other stuff.

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"Guaranteed return on investment" sounds too self-confident. If you are willing to wait a certain amount of time until your investment can bring you a profit, or at least you can return what was originally invested, then this is normal. But even at the moment when you sell and return your money without waiting for the growth of Bitcoin, this is a different amount than it was before, since inflation does not stand still. But you also miss the moment of volatility and the moment of the human factor when there are unforeseen cases of severe need for money. Under such a set of circumstances, the expression about the guarantee will not sound very optimistic. But are there many people who are able to invest large amounts and not need them for a very long time?

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If you want to lower your risk of loss Bitcoin is the answer but do not put all your eggs in one basket, be exposed to risks I have my reasons for saying these words, someone who can't afford to invest a lot into Bitcoin won't make any life changing money, with 2,000$ invested in Bitcoin you won't change anything.

Do the math, maybe Bitcoin can do 5x max, your money will be 10,000, Imagine you DCA per week into Bitcoin and all you have invested so far is 2,000$? The higher you can afford to invest the better, this is why I like exposing myself to other altcoins too, 50% of my crypto portfolio is Bitcoin and the rest is altcoin.

I can remember in 2021 during the bull market, I think somewhere in April, I invested 1,500$ in a altcoin, I went away with 35,000$, if I have invested this money in a bear market, I would have made more because I got in when the market is already skyrocketing.

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Quote from: Baghdad on August 14, 2023, 01:41:58 AM

Every single transaction of bitcoin has numerous underground activities that validated the transaction, studying those unseen activities can reshape one's vision of bitcoin.

Lol, Bitcoin transactions doesn't involve any underground activities, it is a transparent currency/payment method, as for who validates the transactions, it is the Bitcoin nodes, and even you can decide to become a node if you want to. There are no 'unseen/hidden' activities, the Bitcoin blockchain is public, and it can be seen/studied by absolutely any person.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin the only decentralised cryptocurrency that is dependable and guaranteed return on investment which is undeniably the truth about it.

Guarantee? Most of the time, this term is being used by scammers who are luring newbies into their scam. Words like instant payout, guaranteed returns, quick withdraw etc. I don't know if it's just me, but it seems like you are saying that Bitcoin can give you "GUARANTEED" returns, and the reality is it doesn't guarantee because there's always a chance that you will lose money investing into it. Don't mislead newbies here.

Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin as a source of income or as an investment plan, which is better?
(It has many advantages and disadvantages, but advantages superceeds the disadvantages). Putting the disadvantages into consideration and as a person that want to lower their risk of loss, will bitcoin be suitable as a source of income (not fully, like part-time job), or investing fully in them and wait for a large profit since many users here in the forum foresee it that, at halving the price always go up above the current All time high.

Both.

I guess it will all depends on how you will use Bitcoin. There are some who are using Bitcoin as their source of income thru trading, and there are many who are successful into it. On the other hand, there are some like me who are just investing into Bitcoin, holding it, and wait for it's price to increase, and reach my target price then I will sell it.

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Quote from: Jegileman on August 13, 2023, 03:14:44 PM

Bitcoin as a source of income or as an investment plan, which is better?

Now, I think this is a good question for reminder. Well, the correlation between the Bitcoin market and other energy asset classes is obvious. Why? Recently, when economic uncertainties, such as wars, global trade, the increasingly uncertain prospects for the global economy have made the demand for energy asset classes decline. At the same time, the demand for Bitcoin is increasing in response to the actions of investors seeking to hedge against the risks and uncertainties in today's energy markets. So, I think these two important points are included in one unit from your question, is Bitcoin a source of income or an investment plan.

One more thing, if we look at the history that has existed, from BTC journey to its inception until now, Bitcoin can be seen as an asset that helps avoid risk and is one of the top choices for now, especially for investors who want to be safe and minimize risk. also maintain their returns in case of unexpected negative surprises in the market.

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For the few days I've been fetching little information about how the development of bitcoin is been structured, I realized that viewing bitcoin as a financial tool leads to an incomplete understanding of the technology. I see bitcoin as a new technology, which has no manager or needs any to perform beautifully well. Every single transaction of bitcoin has numerous underground activities that validated the transaction, studying those unseen activities can reshape one's vision of bitcoin.

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