Buy Buy Buy or Sell Sell Sell?

[fullfitlarry]

There are a lot of folks who continue to be skeptical and scared of bitcoin, which will likely be their loss, and there might not be any real easy way to either convince them and/or to get them to take action to protect their own finances, psychology and likely improve their future options.  Even people who we might try to help, they may start out buying bitcoin, but then screw it up and even put themselves into a worse position because they fail to adequately prepare themselves and to learn about bitcoin and/or to moderate their entrance into bitcoin.

Exactly, as it is very difficult to convince skeptics with regards to Bitcoin. And from what I've learned, Bitcoin doesn't just want us to be technically inclined, as there are words like Blockchain, Bitcoin address, confirmation time, blocks and other technical jargon that might really scared a lot of investors. So Bitcoin doesn't just ask us to learn it's technology, but it teaches us to globally shift our mindset. And so it requires overcoming what has been the norm or status quo for many years. Human by nature resists change, so everyone has been teach to remain in the status quo, even if the current fiat system is flawed. And then the mindset conditioning, we are bias and conditioned to trust  central authorities, central banks and government. And with Bitcoin's decentralization model, it feels risky for the majority. So perhaps the best approach is to stop trying to convince them, but start trying to inform. Our goal should not to get them to buy, but to understand. So by that shift, maybe just maybe we can protect the people we are trying to help from themselves. And with that, patience and wisdom is the key here and that is the only way we can move forward. Just be calm when we are trying to help others, and again, maybe that will be good enough for those who are going to invest in a safe manner.

[Proty]

There are a lot of folks who continue to be skeptical and scared of bitcoin, which will likely be their loss, and there might not be any real easy way to either convince them and/or to get them to take action to protect their own finances, psychology and likely improve their future options.  Even people who we might try to help, they may start out buying bitcoin, but then screw it up and even put themselves into a worse position because they fail to adequately prepare themselves and to learn about bitcoin and/or to moderate their entrance into bitcoin.

Exactly, as it is very difficult to convince skeptics with regards to Bitcoin. And from what I've learned, Bitcoin doesn't just want us to be technically inclined, as there are words like Blockchain, Bitcoin address, confirmation time, blocks and other technical jargon that might really scared a lot of investors. So Bitcoin doesn't just ask us to learn it's technology, but it teaches us to globally shift our mindset. And so it requires overcoming what has been the norm or status quo for many years. Human by nature resists change, so everyone has been teach to remain in the status quo, even if the current fiat system is flawed. And then the mindset conditioning, we are bias and conditioned to trust  central authorities, central banks and government. And with Bitcoin's decentralization model, it feels risky for the majority. So perhaps the best approach is to stop trying to convince them, but start trying to inform. Our goal should not to get them to buy, but to understand. So by that shift, maybe just maybe we can protect the people we are trying to help from themselves. And with that, patience and wisdom is the key here and that is the only way we can move forward. Just be calm when we are trying to help others, and again, maybe that will be good enough for those who are going to invest in a safe manner.

I don't think it will be necessary trying to convince anyone to invest in bitcoin because I believe bitcoin has passed this stage, especially those that are sceptical about bitcoin . Bitcoin has proven to be among the best assets, if not one of the most sought assets. Therefore I believe it is only the blind that needs someone to convince them before they will see the potentials of bitcoin and decide to start buying. Who ever that is still skeptical about the potentials of bitcoin at this stage that bitcoin has gotten to doesn't need any form of convincing, they will continue as a no coiner and before they will realise there mistake of not buying bitcoin, it would have been late.

[HajiBagi]

Signature campaign gives us good opportunity to DCA Bitcoin. If your signature campaign runs for two straight years or you are able to find Signature campaigns for five straight years then you are good to accumulate Bitcoin for five straight years in this case. As I said in my preiovus post that Bitcoin price 5 years back was 10k and if one is accumlating for last 5 years then he has the luck of buying Bitcoin at 10k, 20k, 30k, 40k, 50k, 60k, 70k, 80k, 90k, 100k, 110k, and 120k. His portfolio will be average of all these prices and their might be price at which he has accumulated more Bitcoins then other values.

Signature campaign is handy for people who can't buy Bitcoin because of legality issues. It's also useful for people who can't spare cash from their monthly income for Bitcoin and participate in these campaigns as a way to generate discretionary income.

With the signature campaign running for years, there is no excuse for not being able to accumulate enough Bitcoin by participating in the campaign for those years unless you are not prepared for that. It has given people hope that they will be able to earn more than they could have ever imagined. This is another excellent option for those who lack the funds to purchase Bitcoin without having to worry about the price or waiting for the buy dip. Although some might think it is not a good idea because signature campaign are not permanent but with the time you spent in the campaign you can afford Bitcoin for those years.

Although many individuals are still afraid of Bitcoin because they don't understand how it works, their fear has stopped them from investing, which may be their loss because they missed the opportunity to build their wealth for the future. Even some people who choose to buy Bitcoin make mistakes, maybe they rush in without having what it takes or because they expect quick returns. Some people put themselves in a worse situation while investing, not because Bitcoin failed them, but because they failed to plan properly.

You're right; some people still struggle to understand because they want to make quick profit. I saw a post where someone claimed that he doesn't know if he is investing in Bitcoin or not because he doesn't understand how the market works; he has been investing for two years and hasn't noticed any changes, which demonstrates how greedy the person is. Bitcoin doesn't work like that; you have to be patient and the more you invest, the more you may expect a positive outcome. You can't just hold onto it for two, three, or four years and expect a significant profit in return.

[Moreno233]

Although many individuals are still afraid of Bitcoin because they don't understand how it works, their fear has stopped them from investing, which may be their loss because they missed the opportunity to build their wealth for the future. Even some people who choose to buy Bitcoin make mistakes, maybe they rush in without having what it takes or because they expect quick returns. Some people put themselves in a worse situation while investing, not because Bitcoin failed them, but because they failed to plan properly.

You're right; some people still struggle to understand because they want to make quick profit. I saw a post where someone claimed that he doesn't know if he is investing in Bitcoin or not because he doesn't understand how the market works; he has been investing for two years and hasn't noticed any changes, which demonstrates how greedy the person is. Bitcoin doesn't work like that; you have to be patient and the more you invest, the more you may expect a positive outcome. You can't just hold onto it for two, three, or four years and expect a significant profit in return.

My understanding is that such person might have been buying Bitcoin in bear market, a very great time to buy aggressively though, but because he was looking at seeing his investment in profits almost immediately, he felt bad that his investment did not do well. This is the reason we should not just invest and expect to see reasonable profits within a year or two, Bitcoin needs time like five to ten years to see some significant profits. To ensure I do not worry myself too much, I have start looking at my investment in terms of Bitcoin quantity in my wallet and not on the value of my portfolio, this way my target is to reach a certain quantity of Bitcoin and not just have certain amount of money in my portfolio.

People have a way of developing emotions whenever they have put money into something and that is fine but we must guard those emotion to avoid making mistakes and one of the ways of achieving that with Bitcoin is to set your mind on quantity of Bitcoin and not just the price. This will help you in both buying and holding, I don't know if anyone follow this approach but I'm talking from experience and it helped me a lot.

[Stormisover]

There are a lot of folks who continue to be skeptical and scared of bitcoin, which will likely be their loss, and there might not be any real easy way to either convince them and/or to get them to take action to protect their own finances, psychology and likely improve their future options.  Even people who we might try to help, they may start out buying bitcoin, but then screw it up and even put themselves into a worse position because they fail to adequately prepare themselves and to learn about bitcoin and/or to moderate their entrance into bitcoin.

Exactly, as it is very difficult to convince skeptics with regards to Bitcoin. And from what I've learned, Bitcoin doesn't just want us to be technically inclined, as there are words like Blockchain, Bitcoin address, confirmation time, blocks and other technical jargon that might really scared a lot of investors. So Bitcoin doesn't just ask us to learn it's technology, but it teaches us to globally shift our mindset. And so it requires overcoming what has been the norm or status quo for many years. Human by nature resists change, so everyone has been teach to remain in the status quo, even if the current fiat system is flawed. And then the mindset conditioning, we are bias and conditioned to trust  central authorities, central banks and government. And with Bitcoin's decentralization model, it feels risky for the majority. So perhaps the best approach is to stop trying to convince them, but start trying to inform. Our goal should not to get them to buy, but to understand. So by that shift, maybe just maybe we can protect the people we are trying to help from themselves. And with that, patience and wisdom is the key here and that is the only way we can move forward. Just be calm when we are trying to help others, and again, maybe that will be good enough for those who are going to invest in a safe manner.

I don't think it will be necessary trying to convince anyone to invest in bitcoin because I believe bitcoin has passed this stage, especially those that are sceptical about bitcoin . Bitcoin has proven to be among the best assets, if not one of the most sought assets. Therefore I believe it is only the blind that needs someone to convince them before they will see the potentials of bitcoin and decide to start buying. Who ever that is still skeptical about the potentials of bitcoin at this stage that bitcoin has gotten to doesn't need any form of convincing, they will continue as a no coiner and before they will realise there mistake of not buying bitcoin, it would have been late.

By default it is very important that anyone should have that personal conviction on chosen to invest in to Bitcoin, that's true looking at where Bitcoin started and where it has gotten to us enough to convince anyone coming in to Bitcoin now about the potentials of Bitcoin even though history doesn't guarantee future there is enough evidence to believe in considering possibilities of Bitcoin doing even better than what it is today, and another thing is that I doubt if there will be anytime there wouldn't be those being skeptical about Bitcoin, let put more energy on what value we can put in to Bitcoin and forget about those being skeptical about it.

[Lembo69]

I don't know if I will actually be successful one day if I invest in Bitcoin. I continued to invest in Bitcoin for many years but did not get any good results then everything was in vain. If we can invest correctly then we can make a profit then we should invest in Bitcoin and hold Bitcoin.

Were you accumulating bitcoin and holding or were you merely buying and selling with little profits, more like gambling with it? Perhaps if you were holding the bitcoin you claimed you were investing into and not trading it, you would be financially better off by now. I take it that you were among those who made mistakes by taking quick profits when you should be stacking your bitcoin for a long term ride which explains why you were unsuccessful after many years. You can still start afresh your journey with good investment practices and a long term holding plan, you can still have a chance at some level of success in the future. Bitcoin is meant to be held for a long period (4 - 10 years or more) to be profitable and the more you can hold without tampering your portfolio, the better your chance at enjoying compounded profits on your investment. Additionally, building out backup funds like emergency fund and other variances would help you keep your hand off your portfolio when in need. Be sure to accumulate it with your discretionary income so you can comfortably hold for long without fear or panic.

You can't hold Bitcoin for the long term and not be profitable, if you're not profitable that means that you're selling prematurely. Long term doesn't mean like 2 years, it needs to be atleast over 4 to 10 years or more, if you're able to hodl without selling you will surely be in profit. Bitcoin long term investment needs discipline, if you're not you can be enticed when price rallies to sell and take profit but if you understand that the longer you hodl the more profitable your Bitcoin will be you won't be in a hurry to offload it. So far you have a functional discretionary funds there's really no need to sell when Bitcoin pumps you should understand that it has the potentials to continue pumping on the long term.

Long-term Bitcoin investment will make you realize some things. One of them is patience. Which will help you a lot in human terms. Invest for the long term, at least 10 years. Your investment in these 10 years will help you become wise. And you will understand how to increase your portfolio more. Your investment can make you profitable in the future if you do not give up in the middle. Along with investing, try to increase your income. And try to increase stable income. Once those who start investing and if they sell their investment, they have admitted defeat at the beginning. No matter how much risk there is when investing in Bitcoin, you should have the goal that you will not lose your investment in any way. Fear will come in your mind of losing money, but if you can invest patiently, you may get something good. If you lose your investment, it will be like you went to an island in a boat and blew your own boat, you did not even think about how you will return and remained stuck there. Therefore, no matter how risky the investment is, never miss out on it.

[Lolipo]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

Well, that just shows that the market is unpredictable.

You can't time the market because it's very unpredictable. You might see it's price going up for a few hours then suddenly, it will go down. Just look at Bitcoin's price a few days ago when the Coinbase anomaly happened. It went down from I think around $68,000 to nearly $59,000 in just a span of a few minutes.

What's my take on what's happening right now? We're in a time where we need to wait for the market to correct before entering. We have been seeing the market going up for days already, and I don't see any reason for me to enter the market when the market is on the green. I mean we want to buy coins at a lower price, so it's better to just wait until the market corrects then that's the time for us to buy.

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

[blackberrman]

Although many individuals are still afraid of Bitcoin because they don't understand how it works, their fear has stopped them from investing, which may be their loss because they missed the opportunity to build their wealth for the future. Even some people who choose to buy Bitcoin make mistakes, maybe they rush in without having what it takes or because they expect quick returns. Some people put themselves in a worse situation while investing, not because Bitcoin failed them, but because they failed to plan properly.

You're right; some people still struggle to understand because they want to make quick profit. I saw a post where someone claimed that he doesn't know if he is investing in Bitcoin or not because he doesn't understand how the market works; he has been investing for two years and hasn't noticed any changes, which demonstrates how greedy the person is. Bitcoin doesn't work like that; you have to be patient and the more you invest, the more you may expect a positive outcome. You can't just hold onto it for two, three, or four years and expect a significant profit in return.

My understanding is that such person might have been buying Bitcoin in bear market, a very great time to buy aggressively though, but because he was looking at seeing his investment in profits almost immediately, he felt bad that his investment did not do well. This is the reason we should not just invest and expect to see reasonable profits within a year or two, Bitcoin needs time like five to ten years to see some significant profits. To ensure I do not worry myself too much, I have start looking at my investment in terms of Bitcoin quantity in my wallet and not on the value of my portfolio, this way my target is to reach a certain quantity of Bitcoin and not just have certain amount of money in my portfolio.

People have a way of developing emotions whenever they have put money into something and that is fine but we must guard those emotion to avoid making mistakes and one of the ways of achieving that with Bitcoin is to set your mind on quantity of Bitcoin and not just the price. This will help you in both buying and holding, I don't know if anyone follow this approach but I'm talking from experience and it helped me a lot.

It is very important for new investors to always have knowledge about the history of Bitcoin investment, because they can learn a lot from that history and understand how profitable it is in the long run. Many investors in history are regretting their mistakes in the present. Many investors invested in Bitcoin from the beginning, but when they saw the price of Bitcoin fluctuate, they panicked and sold Bitcoin. Many people kept their investments for a long time, but when they saw their wealth increase, they ended their long-term journey out of greed, because they thought they were right. On the other hand, those who panicked and sold thought it was the end, but now they are regretting it. Therefore, considering history is very important for new investors. Bitcoin is cheaper today than in the future because Bitcoin can increase in value more than we fear and you may be left behind. Therefore, it is better to consider small market declines as opportunities rather than looking for opportunities to invest and it is also important to complete that investment for your long-term.

[Futurexxx]

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market,

how buddy, how does dollar rate affect the value of Bitcoin, have you forgotten that Bitcoin is not controlled by any bank or organization?
If your local currency is not stable to dollar, that's have nothing to do with Bitcoin.

some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

Here you come again, investors have no reason to monitor the market because they are not short term thinkers, an investor should only be thinking long term so their is no point monitoring the market, because by doing so your might get emotional due to volatility and temper with your holdings. It's only traders that monitors the market thinking that they can outsmart the market, and that is the primary reason they are always losing money, so just buy and hold, and kill that thought of monitoring the market after buying because you will be putting yourself into a difficult unnecessary emotional state.

[Loyang]

There are a lot of folks who continue to be skeptical and scared of bitcoin, which will likely be their loss, and there might not be any real easy way to either convince them and/or to get them to take action to protect their own finances, psychology and likely improve their future options.  Even people who we might try to help, they may start out buying bitcoin, but then screw it up and even put themselves into a worse position because they fail to adequately prepare themselves and to learn about bitcoin and/or to moderate their entrance into bitcoin.

Exactly, as it is very difficult to convince skeptics with regards to Bitcoin. And from what I've learned, Bitcoin doesn't just want us to be technically inclined, as there are words like Blockchain, Bitcoin address, confirmation time, blocks and other technical jargon that might really scared a lot of investors. So Bitcoin doesn't just ask us to learn it's technology, but it teaches us to globally shift our mindset. And so it requires overcoming what has been the norm or status quo for many years. Human by nature resists change, so everyone has been teach to remain in the status quo, even if the current fiat system is flawed. And then the mindset conditioning, we are bias and conditioned to trust  central authorities, central banks and government. And with Bitcoin's decentralization model, it feels risky for the majority. So perhaps the best approach is to stop trying to convince them, but start trying to inform. Our goal should not to get them to buy, but to understand. So by that shift, maybe just maybe we can protect the people we are trying to help from themselves. And with that, patience and wisdom is the key here and that is the only way we can move forward. Just be calm when we are trying to help others, and again, maybe that will be good enough for those who are going to invest in a safe manner.

I don't think it will be necessary trying to convince anyone to invest in bitcoin because I believe bitcoin has passed this stage, especially those that are sceptical about bitcoin . Bitcoin has proven to be among the best assets, if not one of the most sought assets. Therefore I believe it is only the blind that needs someone to convince them before they will see the potentials of bitcoin and decide to start buying. Who ever that is still skeptical about the potentials of bitcoin at this stage that bitcoin has gotten to doesn't need any form of convincing, they will continue as a no coiner and before they will realise there mistake of not buying bitcoin, it would have been late.

It is never right to force someone to invest or advise them to invest. Whether the price of Bitcoin is $1,000 or $200,000, it is still not right to force someone to invest. Because Bitcoin is a very volatile currency. You can never tell when what will happen in the Bitcoin market. The market can go up and down at any time. If the market falls and that person panics and sells his holdings, he will blame you. So it is never right to force someone to invest.

If a person is willing to invest, you can analyze the basic knowledge related to Bitcoin with them and give them some space, why Bitcoin is best for investment and why Bitcoin is better than all others. You can tell them all these things, after that if he is willing to invest, he can invest.

[Finebone]

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

No, no, this is a terrible way to go about your Bitcoin investment, because monitoring of the market are for traders that thought they can outsmart the market blindly, which is the real reason you will hear that traders are losing money in the market, but they will never admit to their losses, moreover why putting yourself under tension that will not end well due to short term thinking. Investment in bitcoin is mostly suited for long term, so their is no need in monitoring the market as you said because their is no benefit added to it, plus the tension you will get due to volatility.

[Taskford]

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

No, no, this is a terrible way to go about your Bitcoin investment, because monitoring of the market are for traders that thought they can outsmart the market blindly, which is the real reason you will hear that traders are losing money in the market, but they will never admit to their losses, moreover why putting yourself under tension that will not end well due to short term thinking. Investment in bitcoin is mostly suited for long term, so their is no need in monitoring the market as you said because their is no benefit added to it, plus the tension you will get due to volatility.

And there's no need for us to do that since we can actually do buy and forget about the market then just comeback when you are ready to buy again. With this I guess there's less chance for the investors especially for new comers to get distracted on the movements happening on the market.

Compare if they are frequently or time to time monitoring the market which provably could frustrate them especially if the market move downwards.

I'm paying more attention on things that gives me opportunity to earn more money since with this I can able to buy Bitcoin again and increase the volume of my holdings.

[Marvelockg]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

Well, that just shows that the market is unpredictable.

You can't time the market because it's very unpredictable. You might see it's price going up for a few hours then suddenly, it will go down. Just look at Bitcoin's price a few days ago when the Coinbase anomaly happened. It went down from I think around $68,000 to nearly $59,000 in just a span of a few minutes.

What's my take on what's happening right now? We're in a time where we need to wait for the market to correct before entering. We have been seeing the market going up for days already, and I don't see any reason for me to enter the market when the market is on the green. I mean we want to buy coins at a lower price, so it's better to just wait until the market corrects then that's the time for us to buy.

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

The instabillity of your local currency which you are referring to as dollar being unstable is another reason why you should consider buying bitcoin whenever you have the opportunity to. i will presume that the asssumption that dollar is going to 2000 mean that you are talking about the relationship between the Naira and the dollar and how that the naira seems to be lossing it value consistently. generally when it continues in that regard, it makes it very deficult to buy bitcoin since it will require more to buy bitcoin as your currency continues to loose it value, but the question then is, what happens if you did not buy and let your money remain in your local currency? are you not going to be at a serious dsiadvantage by reason of inflation that will eat really deep into your money?

most of us are also from regions where our fiat is also lossing too much to the dollar and that in itself is a constraint that makes it defficult to hold a good amount of bitcoin if you are earning in fiat that is already depreciating. the simple solution to that will generally be to do a proper cost analysis and check out the price you have to pay for what you hope to gain in the long run. if you are just procrastinating buying your bitcoin because you feel that your currency is not doing well, what will you then say when you eventually discover that bitcoin is also getting bullish? will you then use that as more excuses why you should keep waiting and waiting till you conclude that it is now too late to buy?

as an investor, just focuse on what you can control and forget things that are outside your control. it is in the place of the government and key policy makers to set modalities in place that will help a countries currency in the right shape. till they are able to do that, just face the reality and invest with what is your reality. waiting for things to become perfect before investing does not in any way amount to anything good for you as an investor.

[SmartCharpa]

Although many individuals are still afraid of Bitcoin because they don't understand how it works, their fear has stopped them from investing, which may be their loss because they missed the opportunity to build their wealth for the future. Even some people who choose to buy Bitcoin make mistakes, maybe they rush in without having what it takes or because they expect quick returns. Some people put themselves in a worse situation while investing, not because Bitcoin failed them, but because they failed to plan properly.

You're right; some people still struggle to understand because they want to make quick profit. I saw a post where someone claimed that he doesn't know if he is investing in Bitcoin or not because he doesn't understand how the market works; he has been investing for two years and hasn't noticed any changes, which demonstrates how greedy the person is. Bitcoin doesn't work like that; you have to be patient and the more you invest, the more you may expect a positive outcome. You can't just hold onto it for two, three, or four years and expect a significant profit in return.

My understanding is that such person might have been buying Bitcoin in bear market, a very great time to buy aggressively though, but because he was looking at seeing his investment in profits almost immediately, he felt bad that his investment did not do well. This is the reason we should not just invest and expect to see reasonable profits within a year or two, Bitcoin needs time like five to ten years to see some significant profits. To ensure I do not worry myself too much, I have start looking at my investment in terms of Bitcoin quantity in my wallet and not on the value of my portfolio, this way my target is to reach a certain quantity of Bitcoin and not just have certain amount of money in my portfolio.

You are doing the right thing, which is exactly what every investor who understands Bitcoin should do. There’s no need to always check your wallet to see the value of your portfolio. Instead, you can check it after some months, focusing more on how much Bitcoin you have accumulated rather than the price at any time. Every investor usually sets a target at the start of their journey, some may decide that once they reach a certain amount of Bitcoin, they will stop accumulating, while others plan to keep investing for some years until they reach their goal.

People have a way of developing emotions whenever they have put money into something and that is fine but we must guard those emotion to avoid making mistakes and one of the ways of achieving that with Bitcoin is to set your mind on quantity of Bitcoin and not just the price. This will help you in both buying and holding, I don't know if anyone follow this approach but I'm talking from experience and it helped me a lot.

However, many people allow their emotions to control them, especially when they see the price of Bitcoin dropping after they invest, always watching the market without managing emotions can lead to panic selling during tough times, the best thing is to think long-term and invest with money you can set aside and forget about, while continuing to accumulate gradually over time.

[Bd officer]

......
Therefore, considering history is very important for new investors. Bitcoin is cheaper today than in the future because Bitcoin can increase in value more than we fear and you may be left behind. Therefore, it is better to consider small market declines as opportunities rather than looking for opportunities to invest and it is also important to complete that investment for your long-term.

In the past no one expected Bitcoin to ever cost $100k dollars. But over time the price of Bitcoin has increased more than expected. So we can expect that the price of Bitcoin will be higher than we expected in the future as well. It is not 100% sure that the price of Bitcoin will increase a lot in the future. But according to past history we can expect, so if you invest in Bitcoin and hold on long term you can expect good returns. However, if you want to invest in Bitcoin then there is no need to wait for the fall, if you plan long term and invest in DCA method you can invest anytime, if you invest in DCA method you will be able to buy bitcoin at average price.

[Tonimez]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

Well, that just shows that the market is unpredictable.

You can't time the market because it's very unpredictable. You might see it's price going up for a few hours then suddenly, it will go down. Just look at Bitcoin's price a few days ago when the Coinbase anomaly happened. It went down from I think around $68,000 to nearly $59,000 in just a span of a few minutes.

What's my take on what's happening right now? We're in a time where we need to wait for the market to correct before entering. We have been seeing the market going up for days already, and I don't see any reason for me to enter the market when the market is on the green. I mean we want to buy coins at a lower price, so it's better to just wait until the market corrects then that's the time for us to buy.

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

The instabillity of your local currency which you are referring to as dollar being unstable is another reason why you should consider buying bitcoin whenever you have the opportunity to. i will presume that the asssumption that dollar is going to 2000 mean that you are talking about the relationship between the Naira and the dollar and how that the naira seems to be lossing it value consistently. generally when it continues in that regard, it makes it very deficult to buy bitcoin since it will require more to buy bitcoin as your currency continues to loose it value, but the question then is, what happens if you did not buy and let your money remain in your local currency? are you not going to be at a serious dsiadvantage by reason of inflation that will eat really deep into your money?

It is no longer news that various governments have failed to sustain the sanctity of our local currencies which has kept reducing every effort to save money in fiats and  even  dollars in itself is facing inflation on a daily basis. This would not stop anytime soon as these leaders have what they gain from all these and would not want to ratify it anytime soon. Now that even dollars is also suffering devaluation against bitcoin, it is better to save your rewards for your labour in a way that it won't  be reduced to nothing over time.

Since bitcoin is bought with dollars it would be wiser converting your local currency to dollar and then to bitcoin for those that earn in other local currency. The Naira you talked about is currently at 1535 to 1 dollar and things are not still getting better. If one day it reaches the 2000 margin, it still won't affect the price of bitcoin since bitcoin is independent and would always be headed up. The most secured money anyone would have in savings will be the one you save in bitcoin. So the earlier the better for everyone who wants to secure his money for the future.

most of us are also from regions where our fiat is also lossing too much to the dollar and that in itself is a constraint that makes it defficult to hold a good amount of bitcoin if you are earning in fiat that is already depreciating. the simple solution to that will generally be to do a proper cost analysis and check out the price you have to pay for what you hope to gain in the long run. if you are just procrastinating buying your bitcoin because you feel that your currency is not doing well, what will you then say when you eventually discover that bitcoin is also getting bullish? will you then use that as more excuses why you should keep waiting and waiting till you conclude that it is now too late to buy?

The good thing about bitcoin is it's decentralised nature which has helped to stabilise its values for this period of time. Every local currencies has a governing body and any wrong policies by the governing body would have an equivalent effect on the currency. When you have understood this, then you will see more reasons to save your money in bitcoin. A day will come when you will look back and realise that bitcoin was the best decision you'd ever take.

as an investor, just focuse on what you can control and forget things that are outside your control. it is in the place of the government and key policy makers to set modalities in place that will help a countries currency in the right shape. till they are able to do that, just face the reality and invest with what is your reality. waiting for things to become perfect before investing does not in any way amount to anything good for you as an investor.

You're very correct. It is important to focus on things we can do and forget the rest instead of whiling away our worrying about what you cannot control. Make your plans and invest wisely. Things are not getting better . I saw a recent publication that pegged the global debt at $315 Trillion and I wonder how it happened. These are the things you have to evaluate and channel your savings where it won't be affected by the ongoing inflation. Even though bitcoin is volatile, a long term holding would allow you make a cumulative gain as compared what it could be if you don't take the step.

[Zackz5000]

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

No, no, this is a terrible way to go about your Bitcoin investment, because monitoring of the market are for traders that thought they can outsmart the market blindly, which is the real reason you will hear that traders are losing money in the market, but they will never admit to their losses, moreover why putting yourself under tension that will not end well due to short term thinking. Investment in bitcoin is mostly suited for long term, so their is no need in monitoring the market as you said because their is no benefit added to it, plus the tension you will get due to volatility.

It is not only traders who monitor the market and monitoring the market doesn't make you a trader unless such investor is regularly cheeking on the market to see when there is an increase so they can sell out, there are investor who monitor the market to accumulate aggressively or accumulate more Bitcoin when there is a dip and still continue with their DCA strategy so will say you are wrong by saying that monitoring the market is for traders.

[Finebone]

It happens, I think Bitcoin goes with dollar exchange, and we all know that dollar rate is not stable. Soon one dollar will amount to 2000 in the local market and we all know this might affect Bitcoin market, some persons might be afraid to even buy. But I think the most important thing is to buy the Bitcoin then monitor the market.

No, no, this is a terrible way to go about your Bitcoin investment, because monitoring of the market are for traders that thought they can outsmart the market blindly, which is the real reason you will hear that traders are losing money in the market, but they will never admit to their losses, moreover why putting yourself under tension that will not end well due to short term thinking. Investment in bitcoin is mostly suited for long term, so their is no need in monitoring the market as you said because their is no benefit added to it, plus the tension you will get due to volatility.

It is not only traders who monitor the market and monitoring the market doesn't make you a trader unless such investor is regularly cheeking on the market to see when there is an increase so they can sell out, there are investor who monitor the market to accumulate aggressively or accumulate more Bitcoin when there is a dip and still continue with their DCA strategy so will say you are wrong by saying that monitoring the market is for traders.

No, I think you are the one wrong here, look at his statement again, he said this and I quote But I think the most important thing is to buy the Bitcoin then monitor the market., according to his statement, it shows that their is anxiety after buying, and monitoring the market will eventually compel him to sell mostly in panic if their is a sharp decline in the value of Bitcoin, besides, why would he be playing the games of a trader if he is truly and investor?

[Cossyblack]

[edited out]

I agree with you sir, Bitcoin doesn't give any guarantee in investment and that's why we should only invest/ accumulate Bitcoin using our discretional income should incase anything go wrong it would be a lot easier for us to move on so it wouldn't costs us any trouble . Although investing for the long term likewise for a period of 4- 10 years is necessary to maximise profits for holding even though they is no guarantee that it will happen. I think instead investing with a guarantee that we will cash out big which we are not certain off, its better we simply Buy from our discretional and move on without having any guarantee attached to our investments .

It seems to me that thinking bitcoin as an investment that is 4-10 years or longer will help to put us in more of an investing rather than a trading mindset, even though surely we ongoingly retain the right to get out of bitcoin at any time we like and we also have the right to trade bitcoin rather than invest into it.

I personally don't recommend trading bitcoin, yet people are going to do what they do.. so yeah, hopefully we are at least able to frame the ideas about bitcoin in understandable ways, even if some folks might disagree with some of the ways of thinking about bitcoin and some of the ways of how we treat our bitcoin investment..

And, surely there may well be a decent number of folks who come to bitcoin with a truly 4-10 year or longer timeline in mind, yet along the way, they change their mind about their bitcoin investment either based on changes in their thinking and/or changes in their personal circumstances.

You're right sir, when we start thinking of investing and holding bitcoin for a period of 4-10 years appears we're more looking like an investor rather than a trader. Traders don't have this mindset of holding for a longer period of 4-10 years because they lack the patience to hodl. However people has the sole rights to decide in whatever way they want to do with their bitcoin stash perhaps they may decide to trade it for the shot term rather than holding it for the Long term it's up to them since the stash is theirs.

Furthermore it's obvious that trading is riskier and I personally cannot venture into trading of my Bitcoin for any reason neither can I recommend trading to any person. Sometimes people rushed into trading without even knowing or considering the risks involved,more particularly because their friends recommending trading to them as an easier way of making quick money without also telling them the negative aspects of it. I am not totally condemning trading but left for me,I cannot recommend trading to anyone.

Personally I think people have different reasons for investing in Bitcoin for the long term, circumstances and bad advice from peers groups may change an investor mindset and if care isn't taken serious may also force him to discontinued his Bitcoin accumulation. But I also believe an investor with a strong and determined WILL  cannot be persuaded from discontinuing his bitcoin accumulation no matter what. And also Early planning and preparation like building an emergency funds and reserve funds is necessary to protect his bitcoin investment from unfavorable circumstances that may arise in the future.

[Bluedrem]

There are a lot of folks who continue to be skeptical and scared of bitcoin, which will likely be their loss, and there might not be any real easy way to either convince them and/or to get them to take action to protect their own finances, psychology and likely improve their future options.  Even people who we might try to help, they may start out buying bitcoin, but then screw it up and even put themselves into a worse position because they fail to adequately prepare themselves and to learn about bitcoin and/or to moderate their entrance into bitcoin.

Dear JJG If someone expresses doubts and fears about Bitcoin, then I think we should ask them why they can't trust Bitcoin? Is there anything else besides Bitcoin that is better than Bitcoin? If they can't trust Bitcoin and are afraid because of doubts about the financial security of Bitcoin, then they should also ask themselves, what else seems to them to be the safest thing besides Bitcoin?
Later, when they try to find the answers to all these questions, they will understand for themselves which one is actually the best, which is the safest, which is the most profitable.
If they have doubts in their minds that Bitcoin may or may not exist at some point [although I think the probability is 0.000001%], then the question for them is that if they store fiat currency, it can burn, if they keep it in the bank, the bank can cheat them. If they invest in gold, it can be stolen. If they invest in real estate, they can lose their money there too. In fact, nothing in the world is 100% safe.
But if you compare the security of Bitcoin with other things, you will see that Bitcoin is much more secure than other assets. Again, people invest in it to earn dividends. In the past, we have seen that investing in Bitcoin is the most profitable than other assets.
Bitcoin is more secure than other assets, Bitcoin protects assets from inflation, investing in Bitcoin gives more profit, so why don't people invest in Bitcoin?