IAmA neet who makes $2 AUD per week off bitcoin

IAmA neet who makes $2 AUD per week off bitcoin.

I am looking for a way to boost my passive income and this gay shit isn’t doing anything much.

Help me please?

Other urls found in this thread:

zerohedge.com/news/2018-02-06/credit-suisse-terminates-xiv
twitter.com/NSFWRedditGif

Get a 'real' job?

I can’t, I dropped out of high school. Though, I could probably get a job at coles for stacking shelves for $17 dollars per hour.

But this isn’t what I’m trying to talk about here.

Whut da fuk....17 dollars an hour is better wage than most of murrica?! Min wage here in CA is 11.50.

It’s about 13.30 USD, a bit better than California.

How are you making $2 off bitcoin? By simply Hodling?

Investor here - how much you make isn't as important as your return rate. How much have you put in to get that $2? That's the important question.

Then you can compare your holdings to something that's more mainstream. For example, there are income funds that will give you about say 5-7% (maybe more).

So, at the high end of 7%, you'd be investing about $1500 to match your current bitcoin stuff.

Faucets, solving captchas and mining.

Jesus. Start farming satoshis . I make about 100 bucks a day. For literally doing nothing.

If it sounds too good to be true...

TOO GOOD TO BE TRUE

What are some of the safest forms on investment as a young adult looking to build financial independence?

What do you mean "farming satoshis"?

People will tell you fixed income like bonds.

Becomegod

I'd say for now, just a straight up index fund. Either total market or maybe the S&P 500. Many people have retired just on that fund alone.

Passive income requires a decent lump sum to build off, for that you need active income, lazy ass
Life is pain, if you don't put in the effort you're not living

Because it was a bull market for all of 2016 and 2017. You haven't seen a bear market, have you?

I'm more of a real estate guy but I have been getting into index funds and they seem to be a good way to build equity.

Also, MMM type people have been retired off that fund, so it does work. It's shit for cashflow, though.

By farming satoshi he means farming.

Problem is, he’d be making 0.0077 BTC per day, an equivalent to 774,000 satoshi per day.

In comparison, I’m make 2000 satoshi in a day at peak, through faucets, captchas and converting mined Dogecoin.

Google is your friend

Markets have been acting irrationally for the past 2 years, all due to Fed quantitative easing and company stock buy backs and especially panic buying. You are assuming that the S&P will only go up. Luck does not come everyday.

Your doing it wrong then user

I make 18-20 cents per day alone through faucets without a job. It’ll be increasing a little more if I try harder than that.

It’s either this or I get a job stacking shelves at Coles.

>You are assuming that the S&P will only go up
Over the long term yes, over the short term, i don't care.

What about all the electricity you are consuming? Do you break-even?

Is the app legit though? I’ve tried mining on that one, incredibly slow. It will take about like 500 hours to withdraw.

Did you hear about the XIV ETN?

I'm just getting into stock stuff so no. Just looked it up, though. Looks like it's the inverse, so it's shorting the S&P consistently?

That's the inverse VIX (S&P volatility aka fear index). Issued by Credit Suisse zerohedge.com/news/2018-02-06/credit-suisse-terminates-xiv

what the fuck? 17$/h is a lot of money you retard

stop bragging you faggot

I have a fan-cooling computer for mining and faucets for timed collecting.

1: (At home)
1.4 Dogecoins (converted) = 60 satoshi = 1 cent
-
1.4 dogecoins = 14 hours = 15 cents (loss)

21 cents - 15 cents = 4 cents profit

Or usually when I’m at the library
2:

20 cents + 1 cents when I mine on multiple computers at once, running at 22 hashes per second. 5 computers mining at once gives about 1.4 dogecoins in 3 hours.

2: 21 cents profit*

It’s mininum wage here, could probably live off it as well. Better than some countries based on google.

Why don't you just buy and hold? And start by reading a book called "The Intelligent Investor". You're wasting time man.

...

I could probably buy some for Coinbase, but I’m afraid the commonwealth bank or ANZ might my freeze account and block my transfers, like what they did to other aussies. I could probably get banned because it isn’t in the terms and conditions. I’d have to get to a minor bank somewhere else away from the city.

Does anyone actually put a significant amount of cash into this, though? Or is it just a hedge?

Yes. Hedge funds were buying volatility as in shorting VIX and its derivatives. Many traders went broke trading XIV. Also some use it as hedge against stock indexes.

You can trade BTC on margin as a CFD contract via Pepperstone I believe.

It's too late for you. I bought lifetime mining contracts when it was $2400 a BTC and everyone called me dumb for making $3 a day after spending $700
Now make $10 a day $70 a week of just spending $700 that was sitting around not doing shit

do leverage trades on bimex

you can trade bitcoin as if you had 100x ur current amount, if it goes up by 1%, you double ur money. if bitcoin doubles, you get 100x your amount. it goes both ways though

sounds good

1:100 on BTC is too fucking risky. That piece of shit is too volatile, will blow you out in a swing.

www dot bitmex dot com

Should try it or maybe test it in small amounts?

Can get 4.08% interest on it if you trust freebitco.in

lmao you probably spend more than that on the power to mine it

Messages from inb4

: (At home)
1.4 Dogecoins (converted) = 60 satoshi = 1 cent
-
1.4 dogecoins = 14 hours = 15 cents (electricity)

21 cents - 15 cents (loss) = 4 cents profit

Or usually when I’m at the library
2:

20 cents + 1 cents when I mine on multiple computers at once, running at 22 hashes per second. 5 computers mining at once gives about 1.4 dogecoins in 3 hours.
= 21 cents profit (no loss)

Get a job or play the stocks (butt coin is basically the same thing but more unpredictable)

it takes absurd amounts of time to hit the minimum they require for you to cash out, which was $70 or so at last conversion rate. you also have to babysit the phone because the app will fuck up occasionally.

essentially, you are using your phone to mine satoshi's 24/7 for over several months before you can even think about cashing out.

the guy running the app is literally making more real money off the ads than anyone using it to "mine" satoshis, and as soon as you realize this fact it should counteract the retardation of using it in the first place.

literally collecting cans is more lucrative.