I think the best thing I did when I first learned about Bitcoin, was to take up a second job to fund my Bitcoin purchases. The income from that second job was not something significant, but it was enough to kickstart my Bitcoin journey.

That small amount grew into something very significant in about 8 years, with the increase in the value of those coins. We are talking about 800%+ during that period, something I would have never been able to do with any other investment option.

Do something extra, because that little bit of effort will reward you in the future. 

Bitcoin is an asset that is bought as an investment, in most cases it is, and I think that in the future, as Bitcoin becomes more expensive, it will be more difficult for it to repeat the same profitability that it has shown in previous years. So it is an investment with risks that also need to be taken into account and perhaps in the coming years or even cycles it will not be possible to just buy Bitcoin and be sure that you will definitely make a profit, or you will need to hold it long enough for that to happen. I assume that Bitcoin can become a much more stable asset than it is now.

You have really worked hard to invest in bitcoin by any means possible and it’s a good thing because they say heaven help those who help themselves. Having a work for your personal upkeep and working every in the forum to acquire more bitcoin despite mining other cryptocurrencies as well shows how important investing in bitcoin is for you. It’s a food thing and i am glad you made gain from your investment and i hope you keep investing more and more

Investing when you don’t have any source of income is a terrible idea because it will only make you to invest more you intend to use on other things and that way you will be so concerned about the money you invested which could affect your health or mental well being. Always invest only money you can afford to lose.

It’s not just you that is not good at using debts, it is just not advisable to borrow money for investment purposes especially investing in bitcoin because of its volatility. If you intend to repay the debt when bitcoin is bullish and you have gained some profit what if things doesn’t go as planned? There is every possibility that things might not go as planned how do you now intend to pay back? It is not a good idea at all and i won’t advise we take loans to invest in bitcoin.

Good advice for beginners as most of them will think there go to solution is to take a loan to invest in Bitcoin and pay back after a little time thinking bitcoin would have gained them some profit. Having a source of income is important before investing in bitcoin.

Investing with not own money destroys a most important element of investment. Invest what you can afford to lose and you can afford to lose your money. If you borrow money, you have to make a collateral of something that will cost you more than if you invest with own money and only afford to lose that money.

Invest with borrowed money also damages your mentality and ability to be strong against market volatility and manipulation. You will receive margin calls, and have higher risk of liquidations but at very least, you will have to pay extra cost to loan interest. If investment does not bring profit, you will surely have loss to loan interest.

By don't know when market can give you profit, you will live in this market with stress and fear that if it comes to a day of loan expiration and your investment is not in profit, what will you do and how will you pay the loan interest?

It only triggers your weak hands, and with weak mentality, you will more possibly make bad decision.

The Psychology of a market cycle shows that in different phases of a market cycle, you will have different stress and fear.

You got all great points, but i came back to comment this one. Sure, it's way more ideal to have a salary, so at any point you don't need to cash out your bitcoin savings, and if you have an option to work rather than being jobless, focus on working. Then investment doesn't seem like working as you earned that money and could afford buying btc.

So i think it's possible, if you are single, and you have ANY spare money to invest in btc, but it requires sacrifices. And those investments are just going to look ridiculously small compared what you could afford by having a job. I remember back in day when 0.01 was around $4, and never ever i would have thought btc would grow like it did.

But if you have a family and you are without a job, then focus on them instead of growing your bag. Risk just isn't worth it, and even if it would eventually pan out to be worth it, just know that you were putting risk before the family. And that you risked it without their consent.

Richest man i know personally, that was made rich by cryptos had a day job during his investment phase. That's why he never was scared about bear markets, he had salary coming in and he was safe. So are a rule of thumb, i think you are right, but there are exceptions for people that are only responsible of themselves.

If newbies join in a middle of bull run, they will feel getting profit from this market is very easy. Because in this volatile market, when a bull run is going and hype is reaching to hottest phase, price will soar super quickly. It makes newbies feel it is easy for investment in Bitcoin.

Unfortunately, easy comes, easy goes, and newbies if are not too greed, don't take profit but naively believe in sayings like "Bitcoin will hit $1M in this cycle", they will stuck in this market even many months after a bull run ending. That means newbies will mostly miss many chances for taking profit, and they hold bitcoin till the start of a bear market. After some months of enjoying a bear market, they will panic sell and exit the market, with no profit, but big loss.

Being a trader or holder will help us to achieve earning from our investment in bitcoin, but the market must have to work before then in our direction, if we are going to earn from it, this must be what we are going to do more accurately, by holding, avoiding for fear of unnnecessary demands as well as the fear of missing out, tyhose that hold in a particular season ill have the best of what they wanted to earn from it becuase of the right position over the investment period during which they hold.

You are right. Relying on your single job alone won't be sustainable in the long run. You really have to find a side hustle that will give you extra income that will cater your investment funds. And when you come to manage it properly, it will definitely come into fruition and give you a lot of earning opportunities. Sometimes, it takes encouragement and patience for you to be able to do that. Otherwise, you won't experience investing in bitcoin successfully and profitably.

I agree with some of the points you said, but on the part of selling land for Bitcoin investment, it is quite risky, because there is no guarantee that everyone who sells their land for Bitcoin investment can get their money back in a short time. If you manage to get profit, congratulations to you, but people who want to do it should understand the risk, because they might be able to get profit back in a few months or even years, that is if they are patient, and for those who are impatient or new to Bitcoin investment do not have a hodler mindset, they might sell their Bitcoin because of their impatience and end up losing money.

That's right, that's the worst. For the current conditions, for borrowing and lending funds, I think it's very difficult to get and they only want to help if we are in an emergency, for example for urgent important needs, for example to cover the costs of medical treatment or other things. cover the needs of basic necessities.

If we say for BTC investment and later they will be able to share the results with donors, I don't think so at this time unless we and they are both in the same field. of course assisted because they always monitor its movements Also.