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+---- Thread: Legends Bitcoin as a source of income/profit (/Thread-Legends-Bitcoin-as-a-source-of-income-profit)
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Bitcoin as a source of income/profit - lux - 04-11-2015
So from what I've seen, there's two people when it comes to BTC; those with 0.000005, and those with 50.
My question for discussion is whether you think Bitcoin is a viable source of income, and how it is. For example, where you would earn you Bitcoin from.
RE: Bitcoin as a source of income/profit - Brynn - 04-11-2015
Bitcoin in my opinion, is a valid source of income (considering it's potential). I obtain Bitcoin from 1. Selling stuff or offering services 2. Posting my bitcoin address out there and see if I get anything (I have not done that at SL (yet)) 3. Buying BTC from an exchange, because just like stock, the price of bitcoin always changes. But you know, until utility companies, big ISPs, and landlords accept Bitcoin as payment, you could very much argue (and probably win that argument) that it's not a valid source of income.
RE: Bitcoin as a source of income/profit - whatever - 04-11-2015
(04-11-2015, 02:06 AM)Brynn Wrote: Bitcoin in my opinion, is a valid source of currency (considering it's potential). However I'm not sure if you meant to say, "Is mining bitcoin a valid source of income?" to which I would say no. The amount of time and computing power it needs just to mine $20 worth of BTC is outrageous. I obtain Bitcoin from 1. Selling stuff or offering services 2. Posting my bitcoin address out there and see if I get anything (I have not done that at SL (yet)) 3. Buying BTC from an exchange, because just like stock, the price of bitcoin always changes. But you know, until utility companies, big ISPs, and landlords accept Bitcoin as payment, you could very much argue (and probably win that argument) that it's not a valid source of income.
He never said anything about mining... what the fuck are you on about?
RE: Bitcoin as a source of income/profit - ねこまっしぐら - 04-11-2015
All you have to so is factor in your cost of living and living expenses. See if your liabilities out weigh your assets.
RE: Bitcoin as a source of income/profit - Brynn - 04-11-2015
(04-11-2015, 02:12 AM)whatever Wrote: He never said anything about mining... what the fuck are you on about?
Fuck man, I can't quality-post while I'm tired.....fuck it, I'll just edit my reply then....
RE: Bitcoin as a source of income/profit - ねこまっしぐら - 04-11-2015
(04-11-2015, 02:16 AM)Brynn Wrote: Fuck man, I can't quality-post while I'm tired.....fuck it, I'll just edit my reply then....
That happens to me when I'm drunk or typing with one hand because I'm eating.
RE: Bitcoin as a source of income/profit - Reiko - 04-11-2015
Surviving on Bitcoin? In this bear market? Not unless you were rich to begin with.
Bitcoin value is still decreasing after 15 straight months.
RE: Bitcoin as a source of income/profit - Nyx - 04-11-2015
I can't really see any crypto currency being an efficient source of income. The price fluctuates way to much. One day you could have 50,000$ in a certain coin and the next day you're flat broke and can't pay bills. Of course it would work if you were very, very good at predicting the price of the coin so you can exchange when you feel the price way going down, or get more Bitcoin when you think it is going to go up, but you'd already most likely be in luck for a stable job if you were good enough at that.
RE: Bitcoin as a source of income/profit - azRAel_ - 04-11-2015
(04-11-2015, 03:17 AM)Tarew Wrote: I can't really see any crypto currency being an efficient source of income. The price fluctuates way to much. One day you could have 50,000$ in a certain coin and the next day you're flat broke and can't pay bills. Of course it would work if you were very, very good at predicting the price of the coin so you can exchange when you feel the price way going down, or get more Bitcoin when you think it is going to go up, but you'd already most likely be in luck for a stable job if you were good enough at that.
You get the idea that yes, Bitcoin fluctuates way too much. The Biggest argument for Bitcoins is also the biggest weakness, in that is there is no regulation of the currency. So if the Currency value increases or decreases, there is no agency who is gonna cut intrest rates, pump capital or stop production to keep the value floating. Its one day sink, or one day swim. Its gonna be like life in the 1800s. One day youre rich, one day you are gonna go broke, until they made the Federal reserve to start currency regulation and stop there cyclic panics that were happening. But Bitcoins are designed specifically to evade regulations, so I dont see this happening anytime soon.
RE: Bitcoin as a source of income/profit - Master - 04-11-2015
I found an interesting article about invest in bitcoins, might have the answers your looking for.
Bitcoin article