Bitcoin Forum

So many post on how people can save bitcoin for 10, 20 or even 40 years and become Wealthy afterwards. This is possible but if you have not built your financial life To a good degree it is easier said than done.
Some people think that the problem is impatient and if anyone can just have patience for a long term then they should be rich, how can you have patience when you haven’t even worked on yourself. as human there are always needs, some of this needs are even more pressing than your investment plans.

You have no business with investment of any kind if you haven’t at least built yourself to the least level where you are good, if you haven’t you would keep going back to that investment and taking from it until it crashes.

While you get gingered about the returns on investment you can get holding bitcoin for a long while try to find something or build yourself to sustain it.
If you are broke and not working then investment won’t save you just yet. This two step can influence the changes you need
*learn new skill or develop the ones you have practiced before
* learn to have a financial plan this is not about investment but a plan that can keep your daily spending in check, try to track every money you spent and see the useless one’s keeping you down and jettison them

To be successful in any investment is not based on your eagerness to start it but the discipline, capacity and ability to be able to sustain that investment.

This is the major reason I dy talk am say before you start to dy invest in Bitcoin, you must have a source of income because na true that income you go use take care of yourself and other basic needs, because if you never fit take care of yourself, you no go fit sustain that investment because time time you go dy dip your hand there to use arrange one or two to keep body and soul together, so having a source of income is a must.

Another thing wey wey no surpose use play when it comes to Bitcoin investment is emergency funds, emergency funds stands as a shield against anything wey wan make us temper with our holdings in the future, so as a Bitcoin investor, if you no get emergency funds in place, e go be just a matter of time before you start tempering with your holdings once a serious emergency situation arise, so sustaining our investment na one thing we surpose no use play before we even start, because to maintain or sustain something dy hard pass to even start, but most people no know.

To invest for bitcoin, you suppose to get wey you dey get money from and inside that money, you go fit use am take care of yourself for extra to remain. Na that extra money wey no get any useful use, you go make am dey useful by buying bitcoin with am. I believe say nobody for this forum no dey chop everyday, if you no get enough to survive, you no go fit invest for bitcoin. Na e make you need to try other means to see how you go fit use improve your income in for for you to fit get extra money to invest for bitcoin.

Peso wey get intention of investing in Bitcoin for long term supposed know how his or her financial strength d like, and how em go take carry on with am, whether em d possible for am or not.

To be successful for this like na about planning, if you plan well, you go see good results for yourself. For peso wey wan to venture into hodling Bitcoin for many years, supposed do the little things wey em go fit do, to hustle so that em plans and patience of hodling Bitcoin for long no go be avail.

You need to have a plan not to interrupt the growth of the new business but rather to reinvest what profit that comes from it and by that it will help the business to grow better. For example if you are DCA in bitcoin then you should have a steady plan to push a certain amount of money into it to a certain month maybe investing monthly for three months or six months without tempering on it. However, for you not to touch your new investment then you will have a sustainable plan that will take care of your other financial needs after you have engaged your investment money. You won't have plan to hodl bitcoin for a year with a profit intention of 20% profit while you are running to the investment for paying other bills. The ROI will reduce because you have also reduced the investment capital.

For physical business start ups, I believe you will have at least capital to run the business for 6 months to a year including paying salaries before you can be certain of growth with the liquidity generated from it.

If patience was the key in making wealth everyone would be reach by now. We will seat at home and wait for 5 years or 10 years as the case maybe and expect to become rich but that's not how it works.

It is clear that faith without work is dead, we have to be up and doing something that can create that wealth for us. And it is not about just doing anything we have to be doing the right thing.

So how do we know we’re doing the right thing? It’s when what we’re doing aligns with our goals and vision. Remember, the bigger the goal, the bigger the reward. If you sow little, you’ll surely reap little.

Good post,
Let me remind us, not everyone is going to be wealthy and wealthiness requires a lot discipline in attaining a good mental health, emotional health, physical health, financial health and more. A man full of alcoholic lifestyle cannot attain wealth, a womaniser can never attain wealth and other distractive cheap dopamine, these drastical behavior and habits has to be stopped before you are now ready to be wealthy.

And again, building wealth through crypto does not need only one source of income, it's quiet impossible except you are still a single man without family yet, crypto needs you to have various streams of income to always plant it both in bear and bull seasons, I mean buying it all the time at every price, then you get yourself a ticket to becoming rich in crypto and Bitcoin.

Too much of everything is bad and i wonder why someone will form an addiction on what takes away their money on unproductive things and still call it fun. Without discipline and some principles, it is difficult to acquire and maintain wealth. Gambling is also another thing that is killing the dreams of many in this life, falling into excessive gambling addiction is very bad and can ruin the life of any struggling young man, not that gambling is bad, but it should be handled with caution.

Someone with one source of income can still succeed in crypto investment so far as the inflows come regularly, he/she can still figure out ways to manage the little earnings to provide for daily needs and own investment on cryptocurrency. Having the mentality that having one source of income is not enough will only lead to many people becoming no coiners because they might be wanting to get another source of income before investing and it may never come, and they can even loose interest investing because before they will realize the price must have skyrocketed.

Nothing good comes easy, and I don’t think holding bitcoin for 10 or 20 years will just suddenly make you rich from being poor. No, that is not how these things work. Investing for a long time will just give you a lot of profit, and that profit depends on the amount you have invested. That is why it’s encouraging to invest using DCA methods. At least you will be able to accumulate a lot of bitcoin at your convenience. So even after investing in bitcoin, you should be reliant but focus on getting an active income, as bitcoin investment is just like a passive income.

Furthermore, you can’t ever finish building yourself. That is why my first sentence was nothing comes easy, because you can’t get rich in your own convenience zone. You will have to work hard for it, and still you have to be smart, so when looking for financial freedom, you just have to sacrifice your wants and focus on your needs, which are shelter, food and health; the rest are wants.

Yeah I find this post very interesting. The fact that an enthusiast know how to invest in bitcoin and have a steady income flow doesn’t imply that they'll do well in a long run. I've  seen several big shots who couldn't do well financially even with their good paying jobs, there are still some level of poverty in their lives that makes them employ the wrong strategies  in sustaining their wealth  and such people are likely to go broke in no time. One important thing we ought to learn in our journey of life Is, how to control wealth and make good strategic decisions by first renewing our minds to think differently from an everyday hustler. It's easy to spend wealth after making it compared to the process of making. However even in our bitcoin investment selling those accumulated coins is way easier than accumulating.

Absolutely correct mate, to develop the mindset of investment is not the issues but the way yo keep accumulating and to hold for long term is the main goal. However, a lot of folks have the intentions of investing but they do not have a steady source of income that will be generating capital for them. As a matter of fact, I don't think anyone can hold his Bitcoin assets for 40yrs as the op have said, because security matters. The safe place to keep your seed phrase is what actually matters.

A person can invest up to 40 years if he wants. But his financial management should be in a very good range. Because he will be investing for a long time, many types of financial disasters can come in between. If he has the right knowledge of proper financial management, then he can easily come out of the financial disaster and get good profit on the investment.

That's the most important thing every new investor should have before thinking of Bitcoin investment, going into Bitcoin investment without a stable income is like a farmer without a complete farming tools, your investment journey won't even last for long-term as required cause you'll be forced to sale along the line in a short period which makes no sense for people who call themselves Bitcoin investors.

 It's the stable income that would ensure that an investor has an emergency funds cause when their's no income that comes whether weekly or monthly basis or even daily, it may mean that they borrowed or used cash gift for investment and would definitely turn back to their portfolio during times of emergencies.

Well said, any investment wey person de do when e no get any source of income na just time him de waste because him go still later feed on that investment and wetin be the point of investment when you go still later end up spending your investment. First thing wey people need understand na say na person wey de alive na em de invest so if you no sort out yourself frustration go kill your investment. Just like you don talk na extra money wey remain when you don sort every necessity na em you suppose use invest that way your eye no go de ur investment and you no go need borrow any money from your investment. If your source of income no go do then you need look for other means so you will be able to invest properly.

Bitcoin investment now don turn wetin everybody wan venture into and when you see some people venture into am and dem no still fit hold on to the investment and dey always dey complain till them exit the investment, na because say dem no really plan am well and dem gatz just leave the investment and use the money to do other things. No be the investment wey dem wan comot at dat time be the problem that time but you go see most of them go comot the money when them dey in loss of the investment.

By that time dem don do 2-0 because them no fit get investment to hold on to for long time and then don already exit investment on loss. E dey very important for us to have a sustainable way to make money before we go think of investment in bitcoin. Investment opportunities no dey finish for Bitcoin, so we just have to plan well before we begin invest for Bitcoin.

I definitely agree with you about investments a man who is hungry can't be talking about investing not to talk about holdling it for a period of time anyone doing that must have built capacity enough to sustain himself because the economy that we have found ourselves in the country has made so many things to be difficult and that has affected our standards if living so before anyone in the country can be talking about investment they must have gotten to a state of financial buoyancy


The fact is a man who is still struggling financially can't invest and even if he or she invest in Bitcoin it will be only for the short term basis as there will be a thousand and one needs to attend to that are pressing to him

That is why before going into Bitcoin investment you need to be able to build a backup fund and discretionary fund, if not it is not adviceable to embark on these journey of investment to avoid falling off the line,it is better you have achieved your  financial strategy for a year before you start so that the investment will run smoothly before having any hiccups so that you will be stable. Base on only Bitcoin investment for your personal expenses is a wrong idea because it is risk and since the price is not stable, and might fall at anytime, being financially stable matter a lot In other for you to be successful.

While I might agree with you that having some financial plan is good, I don’t think you need that to hodl Bitcoin. All you need is patience to see it through 10,20 and even 40 years as you have outlined in the OP. Once you’ve got patience figured out, the rest can come in due time. You don’t need financial plans to hodl, patience is all you need, the emergencies that might come would always find a way to sort itself through you because you’ve got the patience to see it through a good number of years. If hodling means you don’t get to sell your Bitcoin through those years, then you are good. What comes after those years though is left to you!

Bitcoin investment no be for everybody, make we just chill and ready ourselves for the big winnings crossing our paths. Weytin we go chop for this space if we no put our hand for something do? We don pass the level where we go de complain about food, make we just guide and let our action speak for us. Bitcoin is a very important sector to adapt to if we want make back to back profits and make we no forget say losses join.

Our foundation matters alot in the space, we should take proper measures in ensuring we sealed our grounds and roots in the system, make we no go de jump jump for thing wey no go get head. Infact how many of us fit stand boldly talk say we dry acquainted with the system? We know how difficult it's been for most of us and how we no go fit mislead our path for this space.

40 years may seem like a long time for one to hodl bitcoin but aren’t we being encouraged to do that with real estate. African parents can’t seem to stop talking about the advantages of buying lands and investing in real estate for long term, real estate investments is very popular in Nigeria I don’t understand why people don’t see bitcoin the same way. Is it because of ignorance or that they only see bitcoin as get-rich-quick scheme?

Honestly, just like parents and children, your parents na person pickin, now you na pickin to your parents and go get or already get your pickin. By responsibility na taking care of this parent and pickin of a thing dey try point ... This analogy is just pointed towards the cares that a new business needs as explained by @futurexxx. This child needs care by the parents to have that standing needed to face stormy periods.
Bitcoin investment must be treated as a child, having something to support daily needs will provide the milk required at the basic level which might be for a little while or longer.
Businesses / investments can easily fail under the condition that the owner is already handling it as a philanthropist (that's taking freely from the business when what is needed is good milk (cares)).
To say, all that care no be guarantee say the investment go stand but na a way of healing possible road blocks to new ventures.

What a brilliant point because patients is only like a mindset investor should have if after they already have the money and has acquired a lot of Bitcoin that's when they just need to learn about being patient so that they will not miss the market value for them but if there is no money patient becomes nothing because waiting without investment cannot give you anything profitable. However Bitcoin investment is like how our people usually say about university that you don't have to keep all the money that will serve you till you graduated but at least when you have the kind that would go a long way then you can start and before that would be exhausted other ways would have open, so that's how Bitcoin investment is, you cannot have all availabilities before you will be satisfied but so long as you are not lacking everything you can do it.

First of all if you are a Bitcoin trader or just an investor you must definitely pay bills and a sustainable life before you dive into holding Bitcoin for the long term sake, this is because at some point what makeost people to lose in the Bitcoin investment is weak hand to sell off they Bitcoin when they face financial challenges, and since their lack other ways of solving such financial issues the tend to break their investments and regardless of what the price is at that time they will not mind since their are in a financial emergency.

In fact, Bitcoin investment is recommended for long-term accumulation. Try to continue Bitcoin regularly for a decent size of your portfolio. The ideal time frame may be 4-10 years.

Yes, not having enough in proportion to the urgent needs of a person makes him poor and he cannot think about investing if he cannot meet his basic needs. If there is no money in investment, patience or impatience become irrelevant. It is recommended to accumulation Bitcoin from Discretionary income after meeting the needs of your family. You can exercise your own freedom/strategy in investing and in that stage any amount of accumulation.

Before investing, you should examine your interest and your source of income to continue in the long term and decide how reliable its stability is after each verification. The time of starting investment is more important for you because if you have a sustainable source of income that is dynamic, it can be easier to formulate a long-term strategy.

Buying and selling land is a business that has been in existence since the time of our fore-fathers. And because of the appreciating nature of land, alot had made good profit from it. This is what modernization has now turn to real estate today. Nigerians are mostly one way business oriented, so it will definitely take much time before their attention can be diverted to Bitcoin. I think in some year to this time, Bitcoin may get to replace real estate as it publicity keep increasing on daily basis.

40 years doesn't seem to be like a long term for one to hold Bitcoin but rather it is very a long term for someone to do that, I mean that is like a life time investment. Just imagine someone started holding at the age of 25 years because this is the age I know that an average and vibrate  Nigeria can start seeing money or working to the point of starting investment and if he or she hold for 40 years, that means they will be at 60 something years by then and you know how 60's always look in Nigeria and so when will the person enjoy his or her holding.