What is Passive Income in a simple way?

Desireu30b · Aug 11, 2023

Listen, Understanding the fundamental concept is crucial. Passive income refers to earnings that require minimal ongoing effort or active involvement once the initial setup is done. It's income that flows in regularly with little maintenance.

I know you love it right!!!! and you wouldn't wish for you enemy to keep labouring for life.
I love Passive income to the point that i say that "I MUST HAVE PASSIVE INCOME IN LIFE"

oldbuddy · Aug 11, 2023

Desireu30b said:
Listen, Understanding the fundamental concept is crucial. Passive income refers to earnings that require minimal ongoing effort or active involvement once the initial setup is done. It's income that flows in regularly with little maintenance.

I know you love it right!!!! and you wouldn't wish for you enemy to keep labouring for life.
I love Passive income to the point that i say that "I MUST HAVE PASSIVE INCOME IN LIFE"

Especially if you deposit it where you get Daily Compound Interest and it will blow your mind with how fast your balances grow into the millions of Satoshi.

Desireu30b · Aug 11, 2023

@oldbuddy you do more of cryptocurrency.
isn't that business more volatile to invest in?
it is like a lucky game.
if you are lucky you win if you are not you lose automatically.
CHEERS TO THE STRONG HEART

oldbuddy · Aug 12, 2023

Desireu30b said:
@oldbuddy you do more of cryptocurrency.
isn't that business more volatile to invest in?
it is like a lucky game.
if you are lucky you win if you are not you lose automatically.
CHEERS TO THE STRONG HEART

Luck has nothing to do with it (I pass on any gambling) and volatility doesn't bother me either. The price goes up and down like it has this year, but I just keep adding to the number of free Satoshi I have on deposit and only sell when the price goes up (like last month when it was at $30,000) and keep on earning more free Satoshi to be ready for the next time.

jetsaints30 · Aug 14, 2023

Think of it as an income that continues to flow even if youre not actively putting in hours you put in the effort upfront to create something or set up a system and then it generates money for you over time without requiring constant effort.

Bisolami · Aug 22, 2023

Desireu30b said:
Listen, Understanding the fundamental concept is crucial. Passive income refers to earnings that require minimal ongoing effort or active involvement once the initial setup is done. It's income that flows in regularly with little maintenance.

I know you love it right!!!! and you wouldn't wish for you enemy to keep labouring for life.
I love Passive income to the point that i say that "I MUST HAVE PASSIVE INCOME IN LIFE"

Passive income is an income that you earb even without you working for it as long as you have invested maybe your time or your money in it
It is mostly owned by the rich ones

oldbuddy · Aug 22, 2023

Bisolami said:
Passive income is an income that you earb even without you working for it as long as you have invested maybe your time or your money in it
It is mostly owned by the rich ones

This is a good explanation of the theory, but what about in actual practice? With FreeBitco I do need to spend some time each day, but the bulk of my earnings comes from the Daily Compound Interest I earned while I was sleeping last night. When I wake up each morning (or later if necessary) I spin the Wheel of Fortune (I bookmarked it) and read my email to find the extra one they send each day. Actual effort amounts to maybe 5 minutes and if I miss a day, I still earn the Interest, but lose the free spins I could have had. Then I set my bonus for the day (30 seconds) and take my free roll and set the countdown timer for an hour to alert me to come back to the website I left open in my browser as often as I can to roll again. I use the CryptoTab Browser so it keeps earning all the time I am online. Not a lot, but the effort added amounts to withdrawing a couple of times a month and depositing them in FreeBitco (a couple of minutes). This routine gets repeated once an hour in the background all the time I am online visiting my Forums or even just playing around online. If I don't spend any time online at all, I still earn Daily Compound Interest and I consider that as passive as I can get.

Bisolami · Aug 22, 2023

oldbuddy said:
This is a good explanation of the theory, but what about in actual practice? With FreeBitco I do need to spend some time each day, but the bulk of my earnings comes from the Daily Compound Interest I earned while I was sleeping last night. When I wake up each morning (or later if necessary) I spin the Wheel of Fortune (I bookmarked it) and read my email to find the extra one they send each day. Actual effort amounts to maybe 5 minutes and if I miss a day, I still earn the Interest, but lose the free spins I could have had. Then I set my bonus for the day (30 seconds) and take my free roll and set the countdown timer for an hour to alert me to come back to the website I left open in my browser as often as I can to roll again. I use the CryptoTab Browser so it keeps earning all the time I am online. Not a lot, but the effort added amounts to withdrawing a couple of times a month and depositing them in FreeBitco (a couple of minutes). This routine gets repeated once an hour in the background all the time I am online visiting my Forums or even just playing around online. If I don't spend any time online at all, I still earn Daily Compound Interest and I consider that as passive as I can get.

I used to make use of CryptoTab browser but not anymore and that is because mining BTC on that browser is very slow so it was tiring and I left it

oldbuddy · Aug 22, 2023

Bisolami said:
I used to make use of CryptoTab browser but not anymore and that is because mining BTC on that browser is very slow so it was tiring and I left it

Now I am really baffled, how do you get tired from doing NOTHING? Using CryptoTab Browser requires absolutely no more effort than using Chrome or any other browser. I just do what I would be doing if I had never even heard of CryptoTab Browser. Oh, I guess you could count the strenuous effort I exert to withdraw the free Crypto it pays and deposit it directly into my FreeBitco account so it can continue earning free crypto without me even thinking about it. This is passive income in its purest form.

saoussen5765 · Aug 23, 2023

oldbuddy said:
Now I am really baffled, how do you get tired from doing NOTHING? Using CryptoTab Browser requires absolutely no more effort than using Chrome or any other browser. I just do what I would be doing if I had never even heard of CryptoTab Browser. Oh, I guess you could count the strenuous effort I exert to withdraw the free Crypto it pays and deposit it directly into my FreeBitco account so it can continue earning free crypto without me even thinking about it. This is passive income in its purest form.

Exactly as Cryptotab is chrome based browser means you could for example install the extensions of google chrome on cryptotab and also sync your earning to even if flashed your PC but it is not avast friendly browser because avast blocks mining process.

oldbuddy · Aug 23, 2023

saoussen5765 said:
Exactly as Cryptotab is chrome based browser means you could for example install the extensions of google chrome on cryptotab and also sync your earning to even if flashed your PC but it is not avast friendly browser because avast blocks mining process.

Thanks for that tidbit of information, I will be sure to not use Avast again.

Bisolami · Aug 23, 2023

I understand what you mean but I always expect to be able to earn bitcoin from the website but the amount of Bitcoin that I can mine everyday is very little

saoussen5765 · Aug 23, 2023

Bisolami said:
I understand what you mean but I always expect to be able to earn bitcoin from the website but the amount of Bitcoin that I can mine everyday is very little

I could for example say that even earning from a faucet site pays better than cloud mining because it is based first on refer people and also invest on the site and then comes the risk of being scammed by cloud mining program that is new HYIP form.

Bisolami · Aug 23, 2023

saoussen5765 said:
I could for example say that even earning from a faucet site pays better than cloud mining because it is based first on refer people and also invest on the site and then comes the risk of being scammed by cloud mining program that is new HYIP form.

You are right and I totally understand how you feel and I think I feel the same way with you too. I actually love faucet platforms but the ones that pays.

oldbuddy · Aug 23, 2023

Bisolami said:
I understand what you mean but I always expect to be able to earn bitcoin from the website but the amount of Bitcoin that I can mine everyday is very little

I don't think you do understand what I mean. Compared to the amount of effort required, anything I get is a bonus. Here is a screenshot of the free Bitcoin I got this year, which I would consider not much too except that I got it for doing what I do anyway only with a better browser. That's $3.50 I sent directly to my Faucet paying 4% Daily Compound Interest without me lifting a finger. I wish I were as rich as you must be to turn my nose up at free money no matter how little I must do to receive it.

eldavis · Sep 16, 2023

A simple way to define passive income is simply earning money with minimal or little to no efforts. Or little to no stress involved. Some persons also use the word residual income for passive income. I don't really know if its the same thing though.

oldbuddy · Sep 16, 2023

Residual Income is just income that repeats itself, not necessarily without any work.

Springtime · Sep 19, 2023

Yes, it's great to have multiple sources of passive income. I earn interest from my fixed deposit at a bank; dividends from the stocks I bought, and bonus from my shares at a tech start-up.

flower · Oct 4, 2023

Passive income is like having a money tree that keeps growing and providing fruit. This is indeed a very good way to make money without you constantly tending to it.

Reedex · Oct 4, 2023

It's good to make money while you are on vacation or when you are enjoying quality time with families or pursuing your passions . This is the power of passive income generation.

What is Passive Income in a simple way?

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