What should we see bitcoin as? - page 3.

noorman0

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

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Bitcoin as a source of income

Just this, to be more precise, the less restricted side incomes, so its use would not go far from bitcoin's original purpose as an alternative payment instrument. Another advantage like volatility is the effect that is not conceptualized and unpredictable.

But it really depends on where you live. In some countries including mine, they allow bitcoin as an investment asset which indirectly limits its original function.

Rruchi man

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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?

Mostly people who know nothing about bitcoins think it is a source of income, which is misguided. Bitcoin is not a traditional source of income and was not created for that purpose. You cannot get profit from bitcoins without any major input in it. It can yield you profits from long term investments but not a short term immediate source of income like a get rich quick scheme.

Study the main purpose for the creation of bitcoins and see it for what it was created which is for mainly seamless transactionary purpose.

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

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.

No, I don’t think bitcoin should be relied on as a source of income. Only you’re a day traders can say they earn a living from trading bitcoin, if you’re a person hodling for long term, your strategy is not income but profit. Day trading is not for everyone, only those who can bear the loss of making such risky trades can be successful in trading. It’s far safer to hodl till the price hits ATH.

kamvreto

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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.

sheenshane

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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?

I prefer this, find a job and treat Bitcoin as a long-term investment plan.
Buying a little by little using 10% of your salary would be the best or let's say you are investing Bitcoin in a DCA way and making plans in the future.

Because when doing a passive income in Bitcoin there's no guarantee of making a profit on it, more worse if you will lose your investment if you will force to make a passive income on it.

However, why people think this, passive income or long-term investment, Bitcoin created doesn't mean making a profit, it's an alternative to fiat that can make a peer-to-peer transaction model to enhance security and trustlessness, as no single entity has control over the network. Transactions are transparent, immutable, and verified by the decentralized network, reducing the risk of fraud or manipulation, that's how Bitcoin was created not promising a profit.

letteredhub

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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?

Your question is a weighty one but I'll try to give a simple answer and I hope it clicks.
Whatever anyone make of bitcoin depends on his depth of knowledge about bitcoin. You can't be a newbie and jump into the decision of immediately making bitcoin as source of income cause that will mean you trading which is a very risky aspect of bitcoin with it's volatility which will suggest that for a newbie a long time investment plan of buying and holding is the best that can guarantee you profit.
For any person that wants to make bitcoin source of income be it part-time or full, you have to first learn trading and this would demand seriousness and psychological build up too cause trading isn't for the weak.

sunsilk

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Whatever works for you choose it but for the majority here, we're into it as an investment. While many are earning Bitcoin but if you're too patient in looking into more opportunities that will pay in bitcoin, you're free to do it.

And when someone says about earning bitcoin full time or part time, trading is what comes to my mind quickly.

It is doable but the struggle that you'll feel is gonna be for real.

EFS

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There aren't many jobs that you can get paid with Bitcoin. If you find one, that's great. Don't worry if you don't find one though, you can always convert your fiat money income to Bitcoin from exchanges.
There is no guaranteed return in any type of investment. Bitcoin price went up after every halving but that doesn't mean it will go up in the future. That's just a prediction coming from past experiences, nobody guarantee it.

Die_empty

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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.

Firstly you need to see bitcoin as a currency that is used for the payment of goods and services. Secondly, you can also perceive bitcoin as a hedge against inflation. Most countries suffer from inflation making their currency lose purchasing power. Bitcoin has shown over the years to be a good hedge to handle inflation. Bitcoin can be used as an investment where you buy and hodl for a long time until the piece appreciates. You can decide to sell and take your profit from your investment.

One of the ways to reduce the risk of investing in bitcoin is to adopt the DCA strategy. It is the process of buying bitcoin in small and equal bits over a period of time. It is better than buying a large amount irregularly. One of the benefits of DCA is that it helps to spread risk making it difficult to lose abysmally. Don't base your decision to invest on other people's forecasts or predictions. Do your own research so that your conviction to invest will be based on personal knowledge and understanding.

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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.

You are not guaranteed ROI, people who asks questions like this usually have zero knowledge of Bitcoin, and they are closer to losing every sat they have than making ROI on them.

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.

Bitcoin is money, money cannot be a source of income, you do something to earn money, and that thing you do is the source of income, thus what it is it that you do/want to do to earn Bitcoin (money)?
Bitcoin as an investment plan? It is your Bitcoins (your coins), do whatsoever is suitable for you with it!

Frankolala

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It all depends on the kind of job that you want. If you are talking about trading bitcoin as a job,then I think that you shouldn't put all your hope in it, because trading will likely bring your loss since it is similar to gamble. Therefore, it is better that you have a job before seeing bitcoin as a part time job. Even if you have invested in bitcoin and you are waiting to make profit from it in the long run, you must still have money that you need for feeding and emergency needs if not you will sell off your bitcoin for some important needs.

If you are talking about your earnings in bitcoin I think you can only see few jobs that pays with bitcoin. The only sure place that pays with bitcoin is this forum when you take part in signature campaigns. Also the amount which you have put into bitcoin investment determines the profit that you will make in the long run that is why it is advisable to use DCA methods where you can keep on accumulating more bitcoin to your investment portfolio, so that in four years time,you must have accumulated a significant amount.

Asiska02

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Either source of income or investment plan, it depends on the one that’ll work for you when you look at things from different perspective. Seeing it as a source of income depends on the work you’re doing and being paid in BTC. Only some crypto related companies will pay their workers in BTC today since the risk involved in crypto trading is limiting its full adoption by all yet. It’s okay to work and be paid in bitcoin, it enhance its adoption in some ways too.

Also, investing in bitcoin still depends on the money you’re putting into it and how much you stand to earn in the long run. To reduce the risk of loss, having an investment plan will give you a better guide in the market. Investment could be in the form of trading or holding. To reduce the risk of loss being caused by the volatility of the market, its advisable to just buy and hold your BTC for the long time to reap your profit later. This is advisable for newbies and those that have no prior knowledge on trading bitcoin.

GeorgeJohn

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Let me say the answer will render to you will depend on your subject, so bitcoin is been known as a decentralized currency currency and its independent in which government doesn't have control over the currency because its not centralized but only been decentralized. Sometimes government rise the development and adoption of bitcoin because is under their custody, so bitcoin should be considered or seen as currency but only that differentiate bitcoin with traditional currency is because traditional currency is centralized currency that is dependable by government of particular nation, so that is the difference between bitcoin and fiat currency, in other way round bitcoin is an asset and its use for investment that yield positively in its transaction or investment depending the category you venture in bitcoin investment.

hatshepsut93

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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?

Depends on how good you are at earning Bitcoin through work, and how much money can you invest. If you have only $1,000, you won't make a lot of profit, because Bitcoin won't increase in value by 100 times. Investing $1,000 is worth it, but it won't change your life. But doubling or trippling a larger sum like $50,000 or $100,000 is a good investing move.

As for earning, if you're earning more money with BTC than with fiat doing the same job, then go for Bitcoin jobs. Otherwise work for fiat and buy Bitcoin with your earnings.

Jegileman

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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.

Topic: What should we see bitcoin as? - page 3. (Read 444 times)