How to Finance this Hobby

I tied being a gigolo but too many guys are giving it away for free.

You are not ‘investing’ you are ‘gambling.’ If you win, good for you. Spend your winnings on whatever spur of the moment fun you want. If you make plans based on expecting to win at gambling or if you gamble more than you can afford to lose, you should be prepared to lose.

Learn the three magic words “”stick em up” Your welcome

How did you make $500 in a week on Crypto? Did you buy on Monday and by the weekend did it rise that much?

Dude you don’t know how investing works. You don’t invest to get yourself out of your current situation, you invest to prosper for your future self. Your time horizon doesn’t match your goal. Simply put, you need to make more money income wise, not investment wise. There’s a big difference between volume and %. If you have $1 million and get a modest 5% rate of return you’ve made $50k profit. However if you invest $2000 and are looking to make bank on that investment so you can hobby, you’re essentially trying to find an investment that produces a 100% rate of return (unrealistic) to Profit $2,000? That’s lame and your frame which to work with is all fucked up. I would advise you to not do this hobby and strictly work and invest until you got over $1million in wealth.

@shailynn

I have been asking myself, off and on, for a long time, "How does one make money with crypto." I looked into mining, buying my own rig, renting time on a rig in some country that has low taxes and cheap electricity, etc. None of that seems within my price range.

I knew that people could buy low and sell high, but I have no way of knowing how to predict that, and I have a job and a life and I can't spend all day sitting in front of a computer waiting for the right time to make a move. I honestly don't know what I'm doing and I'd just lose it all. Once or twice, I bought Bitcoin when it seemed to go down in price, and then when it went back up again, I sold it. I'd earn maybe $20. Then I'd try again and mess it up and miss my shot or lose money. Very frustrating.

Just last week, though, I asked myself, "Could there be an automated way buy low and sell high, using dollar cost averaging ideas, running some kind of algorithm, that trades 24 hours a day, reacting to market conditions, in a way that I don't have to actively manage it?" And then I thought, "If such a way exists, then someone has probably already done it."

I searched on Duck-Duck-Go and found 3commas.io, which has these trading bots. People who have configured their own bots make them available for other people to copy them. I found a bot that 3commas said had earned 22% last month. So I gave the bot access to my Coinbase account (through the secure API...they have simple, step-by-step instructions). I had about $4700 when I started a week ago. As of this moment, it's almost $5250.

There were ups and downs this week, and I keep compulsively checking my balance like an idiot. I just need to calm down and leave it alone.

@meat72 Yes, all that, sure. I have traditional retirement savings, and even if I lose money in the crypto speculating / gambling, I'll be fine. I very much appreciate your good advice, though.