Topic: Will you quit your day job to go full time on bitcoin? - page 348. (Read 459212 times)

Quote from: Amph on July 27, 2015, 07:54:15 AM

Quote from: AtheistAKASaneBrain on July 27, 2015, 06:35:47 AM

Quote from: RonPaulBTC on July 26, 2015, 06:14:37 PM

Quote from: neutraLTC on July 29, 2015, 10:29:12 AM

already done that my day job is signature campaign lol, job kill your life, with signature i can earn comfortably at home without paying any taxes on it, because i'm not selling bitcoin or anything, this is the best part of it

being payed directly in bitcoin with those kind of activity is fantastic

But when you want to buy something with it what are you going to do?
Say for example, that BTC goes to 10K in the next years and you can afford a nice car or real state.
How can one buy that with BTC without getting it taxed?
When they ask where the money comes from what will you say? it came from "sig campaign?" i ask because a friend made a lot of money mining and a little with sig campaing too and is on the same boat. Has never sold or bought with fiat so goverment has no idea that he owns a couple thousands in BTC.

bitcoin can't go to 10k without rising its usage all around the word, i mena there isn't a thing like bitcoin will have a high price but it's still not mainstream, those two thing go together

so at 10k, it's very likely that many shop will already accept it, and aside from this there is open bazar coming, or if you prefer to use them now without dumping there is all4btc/purse.io

Yeah but he's talking about buying something serious like a vehicle or a house, not some videogames. How are you going to buy something like that without setting the IRS alarms on?
You may be able to directly buy a car and a house with BTC directly in the future (in fact you can now) but how are you supposed to avoid taxes anyway? you have to declare your properties.

well besides an hourse there isn't anything big enough that interest me, car? i don't care i prefer to use bicycle it keeps me in shape, everything else is so small that will not alarms taxman

Well, how are you going to pay a house then?
And again like some other posters said, even if you buy directly with BTC, customs may inspect the package and see you are paying in BTC, if they see this on repeated times it may raise an alarm because you aren't taxing any of that money.

this is true, but usually i prefer to not order materials from outside of europe union, exactly because i want to avoid controls from customs, if you order something in eu, they will not check anything tnx to the europe union

i believe that if you're someone with an house already you can conduct your life buy paying anything else that does not cost too much like food or small HW, with bitcoin without paying taxes, but in any case it's better to stay under a certain amount per year

If you hold some BTC for a decade+ you can be a potential millionaire. Are you saying you wouldn't be tempted to buy a better house? what's the point of being a millionaire if you can't use your wealth beyond groceries and a gaming computer? lol.

CryptyMike

full member

Activity: 290

Merit: 127

Quote from: faridkifly on July 29, 2015, 07:25:00 AM

No.
In my opinion, having a real job and doing bitcoin as a part time job is the best way Grin

It is sad that people consider "doing bitcoin" to be day-trading or clicking on faucets. To me, "doing bitcoin" means working full-time at a Bitcoin start-up.

That's what i'm saying, finally someone who thinks similar to me.

Agreed. And Bitcoin isn't accepted enough to be a trader in it. Technical Analysis in many ways is one massive self fulfilling prophecy, that if enough people follow the same rules and believe in those rules it will work to an extent. A support line, is not "real" and there are not enough people trading for TA to be true as often as in larger stocks or FX.

That being said, Bitcoin is far from saturated in terms of business and innovation. There is enough BTC around to capture part of the niche and make a living if you have a successful startup going.

neutraLTC

legendary

Activity: 1492

Merit: 1021

Quote from: faridkifly on July 29, 2015, 07:25:00 AM

No.
In my opinion, having a real job and doing bitcoin as a part time job is the best way Grin

It is sad that people consider "doing bitcoin" to be day-trading or clicking on faucets. To me, "doing bitcoin" means working full-time at a Bitcoin start-up.

That's what i'm saying, finally someone who thinks similar to me.

faridkifly

sr. member

Activity: 294

Merit: 250

No.
In my opinion, having a real job and doing bitcoin as a part time job is the best way Grin

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Amph on July 27, 2015, 07:54:15 AM

Quote from: AtheistAKASaneBrain on July 27, 2015, 06:35:47 AM

Quote from: RonPaulBTC on July 26, 2015, 06:14:37 PM

Quote from: AtheistAKASaneBrain on July 27, 2015, 06:35:47 AM

already done that my day job is signature campaign lol, job kill your life, with signature i can earn comfortably at home without paying any taxes on it, because i'm not selling bitcoin or anything, this is the best part of it

being payed directly in bitcoin with those kind of activity is fantastic

But when you want to buy something with it what are you going to do?
Say for example, that BTC goes to 10K in the next years and you can afford a nice car or real state.
How can one buy that with BTC without getting it taxed?
When they ask where the money comes from what will you say? it came from "sig campaign?" i ask because a friend made a lot of money mining and a little with sig campaing too and is on the same boat. Has never sold or bought with fiat so goverment has no idea that he owns a couple thousands in BTC.

bitcoin can't go to 10k without rising its usage all around the word, i mena there isn't a thing like bitcoin will have a high price but it's still not mainstream, those two thing go together

so at 10k, it's very likely that many shop will already accept it, and aside from this there is open bazar coming, or if you prefer to use them now without dumping there is all4btc/purse.io

Yeah but he's talking about buying something serious like a vehicle or a house, not some videogames. How are you going to buy something like that without setting the IRS alarms on?
You may be able to directly buy a car and a house with BTC directly in the future (in fact you can now) but how are you supposed to avoid taxes anyway? you have to declare your properties.

well besides an hourse there isn't anything big enough that interest me, car? i don't care i prefer to use bicycle it keeps me in shape, everything else is so small that will not alarms taxman

Well, how are you going to pay a house then?
And again like some other posters said, even if you buy directly with BTC, customs may inspect the package and see you are paying in BTC, if they see this on repeated times it may raise an alarm because you aren't taxing any of that money.

this is true, but usually i prefer to not order materials from outside of europe union, exactly because i want to avoid controls from customs, if you order something in eu, they will not check anything tnx to the europe union

i believe that if you're someone with an house already you can conduct your life buy paying anything else that does not cost too much like food or small HW, with bitcoin without paying taxes, but in any case it's better to stay under a certain amount per year

Za1n

legendary

Activity: 1078

Merit: 1011

I am sure it has crossed everyone's mind here at one time or another if they could make a living strictly off bitcoin and/or bitcoin related activities. I think for most people it is wise to continue to accumulate bitcoin while working at another job for the time being. Maybe in another 2-3 years bitcoin will be at the point you can make full-time income off of it, but for now the price is relatively low ~$300, that I think you would be better off saving those bitcoins until it is above $1,000 again.

I know people who post on this forum are from all of the world, each with different ideas on what a sustainable income is, but where I live in the US it would require an income of at least 20 BTC a month just to make ends meet, and that is scraping by. A more realistic number might be 30-40 BTC a month. Anyway, at even 20 BTC a month, if you worked elsewhere and could still accumulate that much BTC for 2-3 years, your would have 720 BTC. If the price would also hit $2,000 by then, you would have a little over $1.4 million. If you spend the same 20 BTC a month instead on living expenses for those 3 years, you would have very little extra BTC.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Well maybe if I will find some stable methods that will grow my bitcoin much higher than my monthly salary.

But it will take some time to happen. I love my job and officemates

aakashsangwan

hero member

Activity: 994

Merit: 1000

PUGG.io

I'll never quit my day job for Bitcoin.
It is just a child and still have to face major ups and downs.

agustina2

legendary

Activity: 2436

Merit: 1008

No I will not left my job. Because my job gives me an earnings of about 2btc / month which I don't get in bitcoin. Yeah small but much better than doing a bitcoin method everyday. I will treat bitcoins earnings as my side earnings.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: RonPaulBTC on July 26, 2015, 06:14:37 PM

already done that my day job is signature campaign lol, job kill your life, with signature i can earn comfortably at home without paying any taxes on it, because i'm not selling bitcoin or anything, this is the best part of it

being payed directly in bitcoin with those kind of activity is fantastic

But when you want to buy something with it what are you going to do?
Say for example, that BTC goes to 10K in the next years and you can afford a nice car or real state.
How can one buy that with BTC without getting it taxed?
When they ask where the money comes from what will you say? it came from "sig campaign?" i ask because a friend made a lot of money mining and a little with sig campaing too and is on the same boat. Has never sold or bought with fiat so goverment has no idea that he owns a couple thousands in BTC.

bitcoin can't go to 10k without rising its usage all around the word, i mena there isn't a thing like bitcoin will have a high price but it's still not mainstream, those two thing go together

so at 10k, it's very likely that many shop will already accept it, and aside from this there is open bazar coming, or if you prefer to use them now without dumping there is all4btc/purse.io

Yeah but he's talking about buying something serious like a vehicle or a house, not some videogames. How are you going to buy something like that without setting the IRS alarms on?
You may be able to directly buy a car and a house with BTC directly in the future (in fact you can now) but how are you supposed to avoid taxes anyway? you have to declare your properties.

well besides an house there isn't anything big enough that interest me, car? i don't care i prefer to use bicycle it keeps me in shape, everything else is so small that will not alarms taxman

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Quote from: RonPaulBTC on July 26, 2015, 06:14:37 PM