Post
Topic
Board Bitcoin Discussion
Re: Being Unemployed Drives People to go to Bitcoin
by
roparker2014
on 03/08/2017, 16:54:04 UTC
How is Bitcoin an alternative to a job for an unemployed person? Unless you have a skill and use it to get paid in Bitcoin - but then you are just as likely to find someone willing to pay you cash for your skill!
If you mean making enough money through investing to live off - unless Bitcoin starts to massively increase in value far faster and higher than anyone is predicting, that just won't work. Think about it - you invest $1,000 (and you have to be a pretty well-off unemployed person to be able to do that in the first place).
Now there's no guarantee it's going to go up - but for the sake of argument lets say it does- lets imagine a "best case scenario" - your BTC goes up 10x in value over the course of a year.
Well done, you've made a total of $10,000 - but if you have to pay your rent/mortgage/bills/food with that, it isn't going to last very long! Even the crappest minimum wage jobs in developed countries pay well over $10,000 a year, and people struggle to get by on those jobs.
Then, your 10k is gone - and so are all your Bitcoin! How are you going to live next year? Unless you remembered to save $1,000 to re-invest - and then you just have to pray that BTC is going to go up again 10x the next year (which it almost certainly won't - never seen two consecutive years of that sort of growth, perhaps back in the very very early days!)
The numbers just don't add up. Sig campaigns and the like earn very little - enough for a sideline but not enough to live on.
The only option is trading and that's basically down to luck, unless you are a very, very good trader - and they basically don't exist in the crypto world - it's too unpredictable and manipulated. Anyone that can read signals and charts well enough to make a living from trading knows this, and spends their time trading stocks, bonds, shares and commodities instead, which are traded within a regulated market so are far less open to manipulation. That's why pro-traders don't get involved in crypto - it's too random!