Making more off of Bitcoin than working

**econfox** · 20 February 2021, 12:07 pm

Anyone else finding Bitcoin more profitable than working?

**PROFRBcom** · 20 February 2021, 12:15 pm

Lots of people.

But so was the tech bubble in 2000.

It will end similarly in the short term IMHO.

**tufty** · 20 February 2021, 12:17 pm

Originally Posted by econfox

Anyone else finding Bitcoin more profitable than working?

Completely disincentivised by affiliate work when the value of crypto held dwarfs all else. Long may it continue.
I mean, does Elon Musk polish his cars on the forecourt?

**tufty** · 20 February 2021, 12:45 pm

Originally Posted by PROFRBcom

But so was the tech bubble in 2000.
It will end similarly in the short term IMHO.

It can't go up in a straight line for sure, but it is a very different situation to 2000 right now. The sh1t has not been allowed to hit the fan. The worst hasn't happened yet, that is to come. In the meantime businesses are supported by printing presses going 24/7 churning out more and more fiat. So are you going to swap your crypto for ever-more diluted USD, EUR or GBP?

If you hold some real estate and maybe some gold, what else is a hedge against inflation and devaluation? With fiat being devalued so badly, crypto is and will appeal to so many more people and institutions. You are seeing the luddites doing u-turns on crypto every day. I don't think it is just FOMO or herd mentality. It is because they are running out of options. The economies are in a state of levitation, only fiat giveaways / furloughing are protecting so many companies from crashing to the ground and so many people losing jobs. One day, after the pandemic, gravity will prevail. The whole house of cards has to tumble.

I am no crypto evangelist, and it seems uncomfortable that 90% of my wealth is now wrapped up in it, going up and down by millions a day according to the percentage BTC dips or rallies. However I still don't want it in ever-diluted USD, EUR or GBP. When the western economies are truly allowed to live or die after this pandemic and the safety car pits and the rat race starts again, so many people will rush to crypto or maybe gold to save the value of their fiat. The rush hasn't even started.

**Sherlock** · 20 February 2021, 3:27 pm

Whoever is not feeling this and is doing gambling affiliate marketing is not doing things right.

But there will be bloodbath as PROF says. The 4 year cycles are like clockwork so far. Even if we are really lucky and no heavy 2-3 yrs correction occurs, it should be expected. The world however will correct and it will be harder than 80% BTC correction. Remember: the bitcoin price is showing how deep in sh1t world is.

Yes, I feel exactly like polishing cars of my employees. Not bad. Time to relax now and prepare for horrible things in future.

**Cash Bonus** · 20 February 2021, 7:49 pm

Bitcoin can be very profitable, even more than being a casino affiliate. I know there are people who continue making a lot of money through this cryptocurrency.

**econfox** · 20 February 2021, 10:13 pm

I have seen BTC go up and down so much. I know people will say I should have held it all but I have taken out what I earned and the remaining amount of coin I have is all profit.

Get it at 5k and sell half at 10k. Earn some at 10k and sell half at 20k.

I have used it to invest in a few other things. Yes, by selling half my coin along the way it cost me now but it really makes it easier to watch it go up and down.

It is a good opportunity to pay off your house and all of your debt. Prepay expenses for the future.

If it goes to 100k tomorrow then I will miss out on some of the upside but if it goes to 10k then I am still ahead.

Having said all of that there are several projects I am behind on as an affiliate.

**big fish** · 21 February 2021, 2:04 am

Cognrats!

I'm insane. I'm constantly shorting bitcoin.

I get some nice wins here and there but more trades end up loosing because i'm too stubborn to buy the hype

I also studied finance in college an have an extremely well versed view of financial markets and the inner workings

Bitcoin is a bubble. I even created a website to warn people of flash crashes and inform about technical analysis of BTC price

here's my latest bitcoin price warning on bitcoinbubble.io

https://bitcoinbubble.io/blog/bitcoi...k-is-imminent/

please ignore the lack of design

**PROFRBcom** · 21 February 2021, 12:20 pm

Originally Posted by econfox

I have seen BTC go up and down so much. I know people will say I should have held it all but I have taken out what I earned and the remaining amount of coin I have is all profit.

Get it at 5k and sell half at 10k. Earn some at 10k and sell half at 20k.

I have used it to invest in a few other things. Yes, by selling half my coin along the way it cost me now but it really makes it easier to watch it go up and down.

It is a good opportunity to pay off your house and all of your debt. Prepay expenses for the future.

If it goes to 100k tomorrow then I will miss out on some of the upside but if it goes to 10k then I am still ahead.

Having said all of that there are several projects I am behind on as an affiliate.

I think your approach is pretty legitimate. Take some off the table as you earn it. No need to be all crypto, that is just a huge risk, even if the rewards have been the best of any asset in history... nothing goes up forever.

Selling some off during mania phases and buying it back in crash scenarios is also a reasonable approach if one uses some very disciplined techniques and a LONG-term approach to trading (think months and years, not 5 minute candle stick charts).

**Sherlock** · 21 February 2021, 12:50 pm

Originally Posted by big fish

Cognrats!

I'm insane. I'm constantly shorting bitcoin.

I get some nice wins here and there but more trades end up loosing because i'm too stubborn to buy the hype

I also studied finance in college an have an extremely well versed view of financial markets and the inner workings

Bitcoin is a bubble. I even created a website to warn people of flash crashes and inform about technical analysis of BTC price

here's my latest bitcoin price warning on bitcoinbubble.io

https://bitcoinbubble.io/blog/bitcoi...k-is-imminent/

please ignore the lack of design

Yes, you are insane. In short.

Like 2 pictures of bitcoin chart and that is reasoning to short or whatever else? It is f****** 2 pictures or highly volatile asset. Anything can happen.

I do not know where you studied finance, but this is...

Insanity is doing the same thing over and over again and expecting different results.

Ok. You are insane.

However looking for 10-12% miniscule correction, after BTC went up by more than 1000% in a year and calling it a crash? That is not insanity. I do not want to use curse words, but really, it is misleading on Roulette Zeitung level. 10-12% wick down is normal lazy Sunday afternoon correction. [Btw. it is Sunday and BTC is actually rallying so far, which IMHO is really insane].

Meanwhile even super conservative people like me are making gains that will be remembered even after 1000 years.

I read somewhere that bitcoin is doing most harm to nocoiners, it is really true. If someone is watching bitcoin grow from single, double or at least tripple digits until now and still is calling fraud instead of being silent at least and thinking, then that person is in danger.

I can come with one example where I was wrong. TSLA. I did not like must, I did not like the cult folowers, I hate the cars etc etc. I do not like stocks generally as well. Now yes, it was a good investment and it is my problem that I did not like it and I still do not. The stupid people were right and I, the "smart" guy, was wrong. I am noy buying it and most likley I never will, but really I have no right to tell others that they were wrong. All I have to do is to sit and think, whether the world/reality is not different than what is the model of world in my head. In the end I may even change. All options must be open, when I admit defeat.

Same applies for Bitcoin. It is possible and still quite probable it will crash to zero. I will lose big money. But guess what, if that happens, I will come here to apologise to all in public and I will be dead serious. In a way - I am looking forward to that crash, because even when painful, it will be a big flash of information for me and I will be again wiser, while all people will laugh at me and that will make it even better, because my ego will be frozen by then again, as many times in the past. I will know again a bit more and that is the ultimate goal.

Sorry, the 2 pictures are really not worth of .io renewal. Being stubborn / being proud to be stubborn and being wise are 2 exactly opposite things.

**tufty** · 21 February 2021, 1:13 pm

Originally Posted by big fish

I'm constantly shorting bitcoin.

If I was that negative on bitcoin, I'd want a bit more than 10% when it goes down. This asset is capable of shedding 40% in a day, so maybe be more adventurous and make sure you ride the bulk of the wave downwards.

I once shorted a share, in a company that was truly horrible. However instead of going bust, the ceo managed to renegotiate a huge financial injection into the company. The shares rocketed and my mobile was ringing off the hook with margin calls. It was a hideous experience tbh. I salute you for taking that sort of punishment time and again. I could only suffer that once.

**allfreechips** · 21 February 2021, 2:32 pm

Making good money as a casino affiliate is Life changing, making 2 million in 6 months on your stored BTC is fantastic and exciting but not life changing.. Perspective is everything.

**Sherlock** · 21 February 2021, 2:59 pm

I know only about one thing that can change life and it is death.

But if you are trying to say that even making smaller money with work (as affiliate / webmaster) is a greater experience than investing passively and making even bigger money... I reluctantly agree.

However not for everyone is holding just holding. For me holding the BTC is a fulltime work. I think about crypto most of the day and I lose money on many experiments. It is really a complex issue. I am talking with people from all over the world, I teach them basics, I try to persuade them not to buy shtcoins (not much success), I see how bankers react, they tell me how their clients are changing towards bitcoin. I follow macro situation and I travel to see economies on my own eyes. On the other hand I try not to read much about crypto, because it is all bs. So at least for me, it is a real effort with real revenue, just like affiliate marketing was in the past. Indeed if I did nothing, just hedl, nothing would have changed.

Anyone whose networth flipped into significant crypto money should work a bit more on crypto. It is not all automatical gain, even when for BTC until now it was. There are changes. Unexpected ones. Many shtcoins I hold I nearly lost because the devs made some abrupt changes. There are airdrops as well. Staking / lending now. Lot of things can actually make more money even to average holders than affiliate income. And a lot of things can go wrong completely and one has to protect his assets.

**allfreechips** · 21 February 2021, 5:43 pm

Maybe I over simplified this, 2-3 million from BTC holdiongs will not support my lifestyle, but affiliate marketing will, but in the short term of 2 months of course it seem like BTC is the bomb.. I could retire on 1/3 of my aff income but not 3 million.

**Sherlock** · 21 February 2021, 7:59 pm

If you held 50% of what you ever got, you should be far north of 2-3M. IIRC Gooner was writing here just short time ago (2014) something like "What should I do with the hundred(s) of useless Bitcoins I get from Bovada".

3M usd and even much more is not retirement even for poor people unless you are really old, because USD will be an uncomfortable digital toilet paper by the time people here retire or by the time the early-retired people get old.

**big fish** · 22 February 2021, 2:09 am

Originally Posted by Sherlock

Sorry, the 2 pictures are really not worth of .io renewal. Being stubborn / being proud to be stubborn and being wise are 2 exactly opposite things.

hey man! i have hundreds of sites, this is just a hobby site that was on the topic. anyhow, i've been insane my whole life as i travel through time dimensions of the inter-dimensional multiverse. in short, i'm from the future!

**big fish** · 22 February 2021, 2:11 am

but it feels so satisfying when it does crash 20% or more cuz on 5X leverage a 20% decline = 100% on your money

**tufty** · 22 February 2021, 9:06 am

Originally Posted by big fish

but it feels so satisfying when it does crash 20% or more cuz on 5X leverage a 20% decline = 100% on your money

That's good hopefully you are very rich with today's tiny dip, I mean massive crash.

From the future and you have been selling BTC on its steep upward curve? Maybe it is time to send your DeLorean in for repair.

**Sherlock** · 22 February 2021, 10:20 am

At least you have balls to put money where your mouth is. So you closed exactly at the bottom and shorted exactly the top? And the exchange did not go down. Ok.

meanwhile
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**Jambo** · 24 February 2021, 5:23 am

Originally Posted by econfox

Anyone else finding Bitcoin more profitable than working?

Some people think so because Bitcoin is increasing. But what if it goes in the other direction? Good work brings long-term success. Speculation on Bitcoin ...

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