Keeping The Dream Alive
I think all of us wish for the day it is possible to live off your crypto earnings fulltime with no worries. I do understand some are doing it already but it all depends on what you are aiming for I suppose. Some people are comfortable struggling by each month living day by day hoping for things to improve at some point in the future.
The hope or taking a chance is not in my thoughts as if you are patient and stay active for x amount of years the financial freedom dream will come true. I do believe this will be possible within the next 5 years or may even be less depending on the targets you require.
My initial thoughts were to grow the crypto bags for a comfortable retirement having a pension that could not be matched. That has changed now as so has the world in the last 3 years as things are very different. Business is not the same along with all the other handicaps out there and the thought always ends up thinking of the crypto stake as the real hope for the future.
Being active and monitoring your growth is the key as this pushes you do more and more each day. At the beginning of the Bear market which would have been around 12 months ago I had a target of achieving 10 investments that would earn $25 per month especially a key target knowing this had to be the goal when the bottom was in.
Easier said than done as those targets became even more difficult as the prices kept on falling. It soon became apparently clear that having 10 was unfeasible and to concentrate on having one or two earning far more than the $25 making up the target of $250 instead. Hive was purposefully left out as having all the eggs in one basket is not a smart move even though Hive should provide a decent income within the next 5 years on it's own.
The being early is something we always hear being thrown around and this is very true as most crypto projects are still in their development mode finding their feet. Like a business they need years under their belt before they became more stable and offer more value.
The $250 target is still being worked upon and have no worries with that being achieved once all time highs are seen again but currently would need 4 x what I currently have in investment values for this to be achieved. This is a slow process but each day is one step closer as this is not a sprint, but more of a marathon.
I have been told by many I look further into the future than most people and I think planning that far ahead has it's positives. The goals for having over $1 million in crypto within the next 3-4 years is still very much alive and honestly expect that to be achieved long before then. Still I see the passive or not so passive income as more valuable than having millions as this is something you can pass on to future generations.
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There exist many experts people who already take cryptocurrency as a full-time earning method. At the current time, everyone can't make it because there exist some people also who know nothing about cryptocurrency. In my opinion, earning through both real-life work and virtual life in a balanced way is a smart situation, and the earnings from cryptocurrency can be kept for the future. I am thinking it's a smart idea. What do you think?
Have to build for the future as this will be the difference form those that think they can live off crypto later on, but without stake they have nothing. Hive is going to change and I would not be thinking it will always offer me passive income as that will not be the case when we have millions of users. Having stake is the only way.
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I was talking to someone the other day and we were discussing the virtues of having a passive income from crypto versus just getting a lump sum and running with it. I'd much rather have a steady stream that I can count on. Too many things get in the way when you have a lump sum of money.
A steady stream all day long in my opinion especially one that is always growing in value.
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I will be happy If I have extra income from Crypto to invest in crypto. That way, I don't need to rely on crypto income for my day to day life. That would also mean I do not always have to worried about getting fresh fiat money into crypto.
Our dreams are all we have got, it is not something you can fully explain to someone
I like your long term view of things and I do agree that it will take to build up those sources. I also want to be financially free and it requires us to build now so it will work out later in the future. Your view of multiple income sources is also the right idea because you never want one or two things to happen and that causes your income to disappear. I want to be fine even if a few things change
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Yes you have to have all bases covered reducing risk and why having multiple income sources is vital. Hive would possibly cover everything you would need financially, but having another 3 or more sources would take the pressure away giving you peace of mind. The long term view is this is only time and what else are you going to do in the meantime to improve what you have?
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It is tough to stay motivated, but thank you for the words of wisdom. I am definitely seeing gains as my account grows and I remain consistent and active. I'm actually using the platform to supplement my personal income in my daily life. I'd like to get to the point where I can put money into hbd savings and keep it there. That day is coming soon!
Good to hear but wait until it is viable. I am waiting to do the same but only when Hive is back to $3 or $4 as you will get 8 or 10 x more than you would converting now. Be patient as in the long run it will pay off as why would you hold HBD now knowing the Hive you hold is worth far more than 40c.
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indeed! Thank you for the advice! 🙂🙂🙂