Is bitcoin a reliable source of potential income?

[junrose123]

Many people now a days are into bitcoins because of being popular in the market and  due to  its very unique use for online transactions out there. But I just don't know if bitcoins could be a great investment since the price of it keeps changing form time to time. It is very volatile in its nature but still many people love this type of cryptocurrency. 

Do you really think that bitcoin could be a potential source of income? what can you say about it?

[ion]

Yeah, I think so.  But not the literal source of income.  Because it's really hard to make this bitcoins as source of income, maybe in the future.  This one I think is just for investment only and wait for the development of the price of cryptocurrency.  You can't get daily income from this.  Bitcoin is more on invest, wait and earn.  Much better to do trading, sell high, and buy low.

[jaybee]

My thoughts as well @ion. I'm not really that knowledgeable about cryptocurrencies but I know how it's inconsistent. For me it's still better to just sell, or buy and sell or even invest a little to trusted companies and stocks because it's already proven to be effective and profitable. However, I also want to consider those people who've earned with cryptocurrencies and I guess it would still take time for crypto to be more consistent and highly profitable. If I would want my money to grow everywhere, I guess I'll probably invest a little on crypto because I believe that there's no harm in trying. 

Edited April 16, 2018 by jaybee

[ion]

You're right. @jaybee But I think on crypto, There are some people who manipulated the price of crypto.  Until the bank or some nations still not recognize the value of these cryptocurrency some greedy people will manipulate this one, and that's the reason why some of the price of cryptocurrency are inconsistent and it's really hard to invest and just of risk takers only.  Look what happened to the bitcoin last year, It's almost $20,000 per bitcoin last December, and just in January, one month differential, it became $6,000, and the explanation still unacceptable. 

[nashtiu]

as a trader, and based on my experience trading in crypto industry is so much fun, yes just for fun don't get me wrong but making bitcoins as part your making money living your great in danger for you might loose your capital, high capital you use to buy some coins. it is simple suggestion I say don't Be on it like your living on it:)

 

[ion]

How you going to lose your capital in bitcoin?  Your capital is still there, but the value of your capital might not be the same because of how the value of bitcoin changes, it's all depends on the market price of the bitcoin.  The only reason to lose your capital, if you withdraw your capital.

[junrose123]

Bitcoins are really a good source of just an extra income only because we cannot predict exactly what might happen in every single day. I think trading is the best idea for me because we will really gained from it, buying if the price is low and selling them if the price is high is a good strategy to be use in trading. I have already earned before at trading and I am happy to have a good earnings from it, we just need a high capital so that the return also would be high.

[hoppip93]

I think bitcoins used to be a great investment, but the returns, if you're going to just get into it right now, is not worth it and you may even end up losing money.

[jaybee]

On 4/16/2018 at 11:38 PM, ion said:

You're right. @jaybee But I think on crypto, There are some people who manipulated the price of crypto.  Until the bank or some nations still not recognize the value of these cryptocurrency some greedy people will manipulate this one, and that's the reason why some of the price of cryptocurrency are inconsistent and it's really hard to invest and just of risk takers only.  Look what happened to the bitcoin last year, It's almost $20,000 per bitcoin last December, and just in January, one month differential, it became $6,000, and the explanation still unacceptable. 

Woah. What a shocking change in just a span of one month. I actually didn't know about it because I only knew about crypto being inconsistent. Well, it's really true that cryptos are just for risk takers and people with a lot of money to spend because they can rely on their other funds. 

[ion]

54 minutes ago, jaybee said:

Woah. What a shocking change in just a span of one month. I actually didn't know about it because I only knew about crypto being inconsistent. Well, it's really true that cryptos are just for risk takers and people with a lot of money to spend because they can rely on their other funds. 

That's why to those people who invest last December, I'm sure, they still don't know how to overcome that situation.  But I think the best thing to do is to hold their bitcoin.  Their investment or money is still there, it's just not the same value, but if they willing to hold and wait. I'm sure around Sept or October, the price of bitcoin will rise again.  You're right, this is just for risk taker only.

[jaybee]

On 4/18/2018 at 10:17 PM, ion said:

That's why to those people who invest last December, I'm sure, they still don't know how to overcome that situation.  But I think the best thing to do is to hold their bitcoin.  Their investment or money is still there, it's just not the same value, but if they willing to hold and wait. I'm sure around Sept or October, the price of bitcoin will rise again.  You're right, this is just for risk taker only.

That's right. They should be patient and wait so that their investments won't go to waste. I feel sad for those people tho, especially with those who have invested their hard-earned money. Hopefully, by the 4th quarter of this year bitcoin's/crypto's price will rise again. However, I hope that if it does really rise the investors should withdraw their money and never invest again because it's too risky.

[ion]

2 hours ago, jaybee said:

That's right. They should be patient and wait so that their investments won't go to waste. I feel sad for those people tho, especially with those who have invested their hard-earned money. Hopefully, by the 4th quarter of this year bitcoin's/crypto's price will rise again. However, I hope that if it does really rise the investors should withdraw their money and never invest again because it's too risky.

You're right.  They need patience in this kind of investment, because we never know when the cryptocurrency will rise again, specially the bitcoin.

[junrose123]

I feel amaze with the sudden increase of the price of bitcoins, last month it was very low but suddenly this month it rise up again. This attitude of the bitcoins really makes me feel wonder if I should make an investment from it or just let it go and find another option to make an investment. Maybe I should take a look again on the chart of its price for the few weeks that elapse to see if it can rise more its price.

[jaymish]

I think they are people who make good money from bitcoin. The beauty of bitcoin is that it keeps going up and down because of this volatility you can trade on the prices of bitcoin going up and down. I invest in bitcoins every month,whether the price is up or down .My strategy is to buy enough bitcoins to eventually make a lot of money when the price goes up, which it most definitely will. You've go to remember that bitcoins are in limited supply. This is the future of currency in my humble opinion. Buy low and sell high is the way to go.

[junrose123]

I think it is better to buy bitcoins when the price is low so that we can sold it a higher price when the price of it climbs to its peak. I am really enjoying bitcoins right now and I am really interested for it because of some reasons that is why I am planning to give much time on it claiming to some faucets. It would be a good investment in the future.

[ion]

But we really don't know or it's hard to say if how low is low and high is high in bitcoin.  Sometimes we already think that the bitcoin is low right now because yesterday the price is a little more higher and then suddenly it's continue to drop. like what happened last year until now, bitcoin price continue to drop.