Quote from: Stepstowealth on September 21, 2024, 01:21:25 PM

Quote from: SuperBitMan on September 21, 2024, 10:16:29 AM

let's all stop seeing Bitcoin as a source of income because it may cause panic when ever there's a dip or fall in Bitcoin.

A source of income is something that provides you a steady stream and flow of money, either on a weekly, daily or monthly basis, and for something like Bitcoin, you cannot consider it a source of income because you have to invest in it to actually profit from it so Bitcoin is actually more of an investment opportunity or a currency than it is a source of income. If the plan of someone is to regularly make withdrawals from their bitcoin to support their lifestyle and livelihood, those kind of people will find it difficult to really hold or keep any Bitcoin as an investment for the future.

Before investing in bitcoin, we must be able to change our mindset about finance. Investing without a steady income will make you panic, especially if investing in bitcoin is used as a source of income. Indeed, bitcoin gives you financial freedom in the future, but don't be reckless without a steady income, you immediately invest in bitcoin because such things do not give you peace of mind when holding bitcoin.

In addition, recording income and expenses is sometimes the most difficult thing to do in personal finance. Even an accountant is able to record company finances, but not necessarily able to record personal finances. So bitcoin investment does promise big profits but before that we must also have a stable income and be able to manage finances well. So it is very important to prioritize business first so that if you have a stable income from the business you can invest in bitcoin comfortably and safely for the long term.