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Anybody living full time on Crypto?

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CryptoConrad

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I'm leaving my job at the end of the month to join my friend who has been daytrading crypto currencies for a year and a half. I'll be living on what I've saved up and whatever I can earn in the crypto space. Anybody else doing this right now?

Thanks,

Conrad

Posted on July 24, 2014 at 7:32 PM

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• Doogy

  

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  Location: New Jersey, USA

  It put a smile on my face to read this post. I was thinking just this morning about how nice it would be to be able to work in the crypto space rather than what I am doing now but I realize its not easy to move from social work to cryptocurrencies :) I think I'm drawn to the competence and intelligence I see in the space which makes me want to be a part of it. But how do I do it? I wouldn't want to be a daytrader and even though I would love to learn programming I don't have such skills either. I guess my starting point could be to start thinking about what skills I have that help me design/implement/establish social work programming that has real impact in the community and how I can transfer the skills to the crypto space...

  How has your friend been doing with day trading? Nonetheless, Best of Luck Conrad!

  Posted on July 24, 2014 at 8:51 PM
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• Cryptonaut

  

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  My guaranteed income each month used to be in dollars, with just a bit of extra BTC I would earn on the side here and there (from web development work etc.). Now it's the exact opposite. All of my guaranteed income is in Bitcoin, with occasional payments in $ that I make here and there :p

  Posted on July 24, 2014 at 8:55 PM
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• yuster177

  

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  I'm living off mining coins as well as other things Bitcoin related. For a while, was barely making it but directed my miners to Feathercoin just as it launched and made enough to upgrade my miners and and get back on my feet financially. What a relief that was.

  Posted on July 25, 2014 at 1:24 AM
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• joetothphoto

  

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  Very interesting. As far as living off of a cryptocurrency, how are you spending it? I assume you are being paid in the cryptocurrency, but how are you putting that back into the world in terms of sustaining life?

  Posted on July 25, 2014 at 3:46 AM
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• CryptoConrad

  

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  Well myself and my friend are younger guys who have limited financial responsibilities. I doubt I would do this if I had a career or a family depending on me. But for now, I have about 6 months worth of living expenses saved up and I feel ready to take the plunge. My buddy and I (on a part time basis) have been trading successfully for a while now. We've definitely shifted our attention to altcoin/bitcoin markets instead of fiat/bitcoin. It can be pretty stressful but also pretty addicting. We're also planning on doing some trading blogging and doing some other projects as well. As far as spending cryptocurrencies, I think the easiest way is just to buy fiat with btc on localbitcoins or coinbase.

  Posted on July 25, 2014 at 8:02 AM
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• ronnibitcoinz

  

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  I wish! Envy those that can

  Posted on July 25, 2014 at 8:18 AM
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• Cryptonaut

  

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  @joetothphoto Very interesting. As far as living off of a cryptocurrency, how are you spending it? I assume you are being paid in the cryptocurrency, but how are you putting that back into the world in terms of sustaining life?

  Currently I have to sell it for cash mostly since 90% of my bills are still fiat. Probably as good a time as any to start looking for ways to reduce that %

  Posted on July 25, 2014 at 9:05 AM
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• CryptoConrad

  

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  @kerneloops Doing a risk vs. reward analysis I see that the potential reward is greater than any other pursuit I could have, but it could also go bust. But being younger gives me a lifetime to build back up. I really believe that this is the gold rush of my generation, probably the easiest entry gold rush in history. I appreciate the well wishes and look forward to sharing my experiences with all of you.

  Posted on July 25, 2014 at 9:06 AM
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• Katherine_22

  

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  If I tried day trading cryptos I think I would lose all my money! I have heard it's a very small percentage that take most of the profits from most people that trade! Is that really true?

  Posted on July 25, 2014 at 9:08 AM
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• Cryptonaut

  

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  @katherine22 If I tried day trading cryptos I think I would lose all my money! I have heard it's a very small percentage that take most of the profits from most people that trade! Is that really true?

  That is probably true, who really knows though. I would never day trade personally unless I was really confident I knew what I was doing. Iv seen way too many posts about people who have screwed themselves over (protip: dont panic sell)

  Posted on July 25, 2014 at 9:10 AM
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