The common man and Bitcoin.

[HajiBagi]

Baba, e go be offside to think of Bitcoin as a means to get rich quick but that no mean say person no fit use am escape poverty. I dey tell people wey I fit tell say everything nah risk for this life and nah the same way Bitcoin be but that wan no come mean say you go put all your money inside. What if you no come dey patient and price come dip pass as you expect? Who you wan put pressure for head then?
 Right from when I enter this place till now, I dey hear people dey advice to invest in Bitcoin with an amount you fit afford to lose and also try get other things you dey do to take hold body.
For this our economy, even if you fit provide for the basic things for this life, e go take a person wey get good investment adviser wey fit reason to enter Bitcoin but still on still, mindset wey you take enter matter too.

That point wey you just talk say bitcoin no mean say you get rich quickly make make sense, many people Dey always think say bitcoin na something wey be say them go invest and they will be expecting say them don get opportunity to become rich, make we Dey clear am for people so that who fit sabi risk am and understand think am before investing, we all know that both poor and rich people fit invest but it depends on the kind heart wey the person get because some people no get patient to invest, immediately after them invest them go Dey expect some thing from it.

Some people just Dey hear bitcoin and some people might just hear it from somewhere and because how ge take hear that the profit Dey makes sense they go want invest all because of the profit, everything get their own risk and as bitcoin be e no mean say you get money or you no get that you will go invest, make we know as he take be and get enough advice from person wey sabi am, no be at the end we will go stay one corner they talk say if I know I for no do am.

[Felicity_Tide]

So many common man dey view Bitcoin as some gateway to financial stability, which dey very wrong in every aspect.

Well, to me, Bitcoin is already a gateway to financial stability. Your years and level of investment determines what you get in the present and future. E no go come for free, but you go gat work to reach that level of financial stability.

Them dey fail to see Bitcoin in the same plight as the original creators of Bitcoin.

I think I have once had this same ideology of yours, but at the end of the day, I realized that I was wrong. Fine, we all know that the Bitcoin white paper says "Bitcoin: a p2p electronic cash system", or something like that, but it's price evolution over the years is clearly far from other assets we've seen. Those who happen to enter the game in the early days like 2010/2011/2012, etc, should be living their best life right now and years to come, if they probably accumulate and hold well.

 

Although even though we no know them , but at least we all know say Dem no create Bitcoin as something wey go liberate people from poverty but as something wey go give person sovereignty over their financial assets

Yeah, Bitcoin acting as what can give individuals sovereignty over their finance, or more of like sovereignty over currency, just like Andreas describe it, but at the end of the day, Bitcoin ended up becoming a good asset for investment, which is clearly not my fault or the fault of every other person that choose to invest heavily on it. We all saw a better or more adventageous side of it, and we all grab the chance, so my brother, wake up, no sleep, collect your money.

Everybody now an then dey hurrily invest for Bitcoin or other altcoins without getting proper knowledge of wetin e be Dem dey dive into.

Yeah, this point done become issue wey we dey address for sometime now. knowledge is very important, especially when someone isn't familiar with what he/she is getting into (invest on). But the question becomes, how much knowledge does this person needs inorder to invest in Bitcoin?. You see, I don't really talk much about gaining knowledge when it comes to Bitcoin investment, because I understand the massive Constraint it has to some individuals or let's say the common man. Let's not go too far, Nigeria as a country, we have millions of uneducated people. I wonder how Bitcoin might become effective to them if they must gain so much knowledge inorder to make use of it. Like I said in a reply in the speculation board, "Bitcoin/it's investment should be made as simple as possible", that even a child can understand. The technical aspect shouldn't be overemphasized on, but at least, some basics like: Bitcoin volatility and risk, how to send and receive using a wallet, and maybe how to possibly check for tx on mempool, and other little things that won't involve too many technicalities. But the basic knowledge is important.

If only dey common man fit see Bitcoin the right, Bitcoin for dun fulfill it's true purpose wey dem creators carry for mind.

Well, I think the true purpose you are talking about is clearly from your own opinion. But like I done talk before, na p2p electronic cash system, wey done turn to good investment asset.

But, at this point, I am wondering if myself and others are actually replying to this post correctly. I just Observed well, and I realized that you are not even addressing Bitcoin investment, but you are literally talking about common man that hasn't realize the purpose of Bitcoin invention, which is to have financial sovereignty as you've stated. Abeg, make person observe well, maybe I dey interpret am differently.

[Gooner0]

Athough even though we no know them , but at least we all know say Dem no create Bitcoin as something wey go liberate people from poverty but as something wey go give person sovereignty over their financial assets. The common man the fail to see this side , instead them see Bitcoin as some get rich quick scheme.

Who we go blame here when everywhere wey you go na so people dey take how Bitcoin dun help them escape poverty and no be say e help them stay anonymous or anything. Infact immediately people dun make money from Bitcoin, dem no dey keep am to demself but na to go announce am everywhere and use that publicity to also make more money. Wetin come dey reign now na how person go make money quickly come commot him profits. People no dey even reason the currency part of Bitcoin but all dem want na the assets features. This no bad but the way people dey do am dey turn the market into just pump and dump schemes, wey no good.

Everybody now an then dey hurrily invest for Bitcoin or other altcoins without getting proper knowledge of wetin e be Dem dey dive into.
If only dey common man fit see Bitcoin the right, Bitcoin for dun fulfill it's true purpose wey dem creators carry for mind.

Hunger dey the land, no be only Bitcoin wey Nigerians dey do this one too. Any business wey come the country and then one or two persons dun succeed from am, Nigerians dey cast the update because everybody go wan benefits and the cause of this behaviour na due to the hunger for the land. Wetin I go just add na say make we know wetin we dey invest inside before we invest and no dey just follow the crowd. Plenty Nigerians no even know wetin Bitcoin be or the different cryptocurrency wey we get and this thing no go because it makes dem an easy target for scammers.

e just be like say na so our nature be, in almost every aspect of life we dey sabi exhibit these kind things.

[Bitco55]

The term common man here refers to an average man "financially". Man wey e be say e no too get but sometimes e dey meet up with life demands.
Many of us here be "common man" , and I wan talk about how some of us they view Bitcoin!.
So many common man dey view Bitcoin as some gateway to financial stability, which dey very wrong in every aspect.
Them dey fail to see Bitcoin in the same plight as the original creators of Bitcoin. Although even though we no know them , but at least we all know say Dem no create Bitcoin as something wey go liberate people from poverty but as something wey go give person sovereignty over their financial assets.
The common man the fail to see this side , instead them see Bitcoin as some get rich quick scheme.
Everybody now an then dey hurrily invest for Bitcoin or other altcoins without getting proper knowledge of wetin e be Dem dey dive into.
If only dey common man fit see Bitcoin the right, Bitcoin for dun fulfill it's true purpose wey dem creators carry for mind.

I understand watin you wan pinpoint for here. Shay the main the main message na say make we no enter crypto as get rich quick scheme without proper knowledge?  That one na true talk. But watin I wan pinpoint for here be say;

First of all na main reason for the creation of Bitcoin. The same way weh money get about 5 functions but only 3 be Im main function, and 1 be I'm first main functions, na so Bitcoin take dey too ( not in the same amount of functions though). The thing be say, Bitcoin start as a result of the 2008 economic global crisis, na im Satoshi mine the first Blockchain write message for inside. The message been contain the date and news for that day, weh been talk about bailouts from banks.

After all this talk, I just wan dey on the fact weh be say, the creation of Bitcoin na for decentralized transactions. Na that one be the main reason before asset sovereignty and protection from inflation Dem Dem follow. So, if someone sees it as a liberation from poverty, when it first came out didn't it serve as a liberation from economic crisis too?

Secondly would be diving into Bitcoin without knowledge. This may be a very contradictory opinion, but isn't diving into something sometimes without knowledge, better than acquiring all the knowledge in the world and still not taking actions? I think it takes great courage to just try your hands on something even when you know nothing about it and how risky it is. Don't get me wrong, this may be the main reason why people say Bitcoin is scam. True, but if one has a positive mindset, they'll take it as a form of growth. 

I no Sha tell you make you go risk your last card unto say you dey try learn but make we no dey deceive ourselves say we dey learn, dey gain proper knowledge, no con dey do anything, cause then, the man who lost his money but has invested before is now probably better than you that think knows it all.

[I_Anime]

If you wan really see the beauty of bitcoin nah to embark on long-term investment. The reason why most people don't sees this beauty because most of them are short sighted they only care about how they will get rich quick through bitcoin (which is wrong) . Because bitcoin investment is all about building and holding, because without building a nice bitcoin stashes you won't be able to yield good profits. Though there's no guarantees that if you invest in bitcoin, the price will continue to go up . But base on it previous performance bitcoin has prove to us that it's a coin fill with potential of growth, especially has it gain more adoption.

For a common man to accumulate bitcoin is not actually a big issues, because we have various means one can use to accumulate bitcoin (build a better bitcoin stash), and some of these methods are DCAing, lump-summing etc. But the most common one is DCAing and most time is more encouraging for newbies to focus on that method. And also it can help a common man to balance other expenses as they focus on building their bitcoin stashes . Because with that method instead of buying bitcoin in bulk they can just focus on buying small quantities of bitcoin at a different price interval, in a fixed time  either weekly or monthly.

[Obim34]

The term common man here refers to an average man "financially". Man wey e be say e no too get but sometimes e dey meet up with life demands.
Many of us here be "common man" , and I wan talk about how some of us they view Bitcoin!.
So many common man dey view Bitcoin as some gateway to financial stability, which dey very wrong in every aspect.
Them dey fail to see Bitcoin in the same plight as the original creators of Bitcoin. Although even though we no know them , but at least we all know say Dem no create Bitcoin as something wey go liberate people from poverty but as something wey go give person sovereignty over their financial assets.
The common man the fail to see this side , instead them see Bitcoin as some get rich quick scheme.
Everybody now an then dey hurrily invest for Bitcoin or other altcoins without getting proper knowledge of wetin e be Dem dey dive into.
If only dey common man fit see Bitcoin the right, Bitcoin for dun fulfill it's true purpose wey dem creators carry for mind.

OP, nice point I see you making here but another truth can be that Bitcoin can actually give a person a lucrative lifestyle as hoped for. It more likely happend at the very beginning of the whole Bitcoin case to the early investors. Imagine those who had bought then and still hold even atleast some portions of Bitcoin or those who newly just recovered the phrase to their long lost wallet, imagine if they had bought hundreds of it comparing to how much they will sell today.

Now it is difficult to get even one Bitcoin, but if an investor can be able to maintain accumulating into his portfolio for the longest of time then with the right longevity to holding over different cycles then there is no doubt of making much to call it that financial stability. The whole process comes with strategically investing with maximum holding power.

[Zigabel]

E get one talk wey dem dey say "na who don chop finish they do other things" person wey never really see food chop well com meet up with life needs no go wan see the actual reason for d invention of Bitcoin, wetin go dey dia mind go always be how dem sef go take see one or two money from Bitcoin especially as e be say dem don see say odas wey dey run Bitcoin mata get money, dem go feel say na so e be so dem sef go wan run am.

Most person wey be say enter Bitcoin na because dem wan make money no be because of dem wan support wetin d pipo wey create am want, d common man sef him own na just to make money and e no go shock me say almost all of us dey dis category, e go be only one or two wey no dey.

[Egii Nna]

E get one talk wey dem dey say "na who don chop finish they do other things" person wey never really see food chop well com meet up with life needs no go wan see the actual reason for d invention of Bitcoin, wetin go dey dia mind go always be how dem sef go take see one or two money from Bitcoin especially as e be say dem don see say odas wey dey run Bitcoin mata get money, dem go feel say na so e be so dem sef go wan run am.

Most person wey be say enter Bitcoin na because dem wan make money no be because of dem wan support wetin d pipo wey create am want, d common man sef him own na just to make money and e no go shock me say almost all of us dey dis category, e go be only one or two wey no dey.

In any investment wey you go fit make you too go put am for mind say you go like see profit. And nah Watin everybody dey do be dat. I know say the main reason them create bitcoin nah because of p2p transactions so that E go day easy for people to do their international transactions without the interference of the traditional bank. But as you see a chance of keeping you more to get profit why won’t you join it for profit?

Make we no lie for our selves everybody want this profit, if not them too no go like invest for bitcoin if profit no dey and this bitcoin stuff no be do or die mata if you no get money to invest work hard to get am no kill your self just because you too wan join your friends or you wan follow them do competition.

[adultcrypto]

The term common man here refers to an average man "financially". Man wey e be say e no too get but sometimes e dey meet up with life demands.
Many of us here be "common man" , and I wan talk about how some of us they view Bitcoin!.
So many common man dey view Bitcoin as some gateway to financial stability, which dey very wrong in every aspect.
Them dey fail to see Bitcoin in the same plight as the original creators of Bitcoin. Although even though we no know them , but at least we all know say Dem no create Bitcoin as something wey go liberate people from poverty but as something wey go give person sovereignty over their financial assets.
The common man the fail to see this side , instead them see Bitcoin as some get rich quick scheme.
Everybody now an then dey hurrily invest for Bitcoin or other altcoins without getting proper knowledge of wetin e be Dem dey dive into.
If only dey common man fit see Bitcoin the right, Bitcoin for dun fulfill it's true purpose wey dem creators carry for mind.

If all of us na common men, then I go like add say even inside the common men difference dey because plenty of us wey never get money wella do already dey buy bitcoin because we wan change our story. We no still dey doubt bitcoin because we don see opportunity wey dey inside. We fit no get the same morale wey Satoshi get untop bitcoin but you self know say people dey try especially as e be say this thing na internet money, e take big faith to buy and hold. So some common man dey try while some never really embrace wetin bitcoin dey offer, but na small small, people go surely see bitcoin for wetin e be.

[Adams0001]

If you wan really see the beauty of bitcoin nah to embark on long-term investment. The reason why most people don't sees this beauty because most of them are short sighted they only care about how they will get rich quick through bitcoin (which is wrong) . Because bitcoin investment is all about building and holding, because without building a nice bitcoin stashes you won't be able to yield good profits. Though there's no guarantees that if you invest in bitcoin, the price will continue to go up . But base on it previous performance bitcoin has prove to us that it's a coin fill with potential of growth, especially has it gain more adoption.

For a common man to accumulate bitcoin is not actually a big issues, because we have various means one can use to accumulate bitcoin (build a better bitcoin stash), and some of these methods are DCAing, lump-summing etc. But the most common one is DCAing and most time is more encouraging for newbies to focus on that method. And also it can help a common man to balance other expenses as they focus on building their bitcoin stashes . Because with that method instead of buying bitcoin in bulk they can just focus on buying small quantities of bitcoin at a different price interval, in a fixed time  either weekly or monthly.

I believe you are right. That is the primary issue some people are having, they don't understand the true purpose of bitcoin they just want to invest and get profit quickly they don't realize it's all about patience you can't get wealthy overnight, you must work hard and be patient for a long time. Even the people that become rich through bitcoin didn't expect that bitcoin will pump like this when the price is low, but people that are always thinking that if they invest they will get huge profit fast I don't blame them because the people who introduce bitcoin to them probably didn't explain it to them, and when they told them they will be profitable when they invest, i didn't blame them is the people that Introduce bitcoin to them they didn't explain it to them probably, and when they told them they will be profitable when they invest they didn't no about the risk and patient. thinking that if they invest they will get profit for short-time, let try to be understanding how things go before investing on it. if you can't invest for long term you should not risk all your money to it his better to start with small funds so that you will know how he works.

For a man to accumulate bitcoin, the best thing to do is to be patient, and he should have a source of income, that will be supporting on his investment, because without getting a source of income and you engaged in investment, you will never really succeed on it, because problem can come at any time, and without getting a source of income, you will touch your investment and you will not see your investment progress, so it is more advisable to understand Bitcoin very well  before investing. is good investment but is good to know how he works before invest so that you won't feel discourage when the market is not going well.

[iBaba]

If all of us na common men, then I go like add say even inside the common men difference dey because plenty of us wey never get money wella do already dey buy bitcoin because we wan change our story. We no still dey doubt bitcoin because we don see opportunity wey dey inside. We fit no get the same morale wey Satoshi get untop bitcoin but you self know say people dey try especially as e be say this thing na internet money, e take big faith to buy and hold. So some common man dey try while some never really embrace wetin bitcoin dey offer, but na small small, people go surely see bitcoin for wetin e be.

I agree with you. It's good to always invest in Bitcoin but it is better to invest in what you believe. Some people are not so confident about the system yet so they do not have the mind to invest in Bitcoin. I they see common men wey they invest plenty money for the system not because they have a whole lot of money to put into it but because they need to sacrifice the little they have since they already trust the system.

The thing is the overall benefit of investment. If you trust in the process, try and invest as much as you can without having to hurt yourself financially. I don't believe in the philosophy of starving myself in the name of investment. If I must invest, I must also make sure I have something to take care of myself with.

[Mr.right85]

The term common man here refers to an average man "financially". Man wey e be say e no too get but sometimes e dey meet up with life demands.
Many of us here be "common man" , and I wan talk about how some of us they view Bitcoin!.
So many common man dey view Bitcoin as some gateway to financial stability, which dey very wrong in every aspect.

Your definition of common man no seat well with me,
The term no only Dey applicable to finance but, e get a broader scope way describe the level at which person know something, be it Bitcoin, finance or any other field out there.

Common man simply refers to anybody way get zero or little knowledge about a thing and no be only finance or low income earners. You fit be reach man and fit into the category of common man to Bitcoin because, you no sabi much about am.

To say common man Dey here, I go agree with you but, na common man way wan learn and e go eventually learn.

[Odogwu-Blockchain]

I agree with you. It's good to always invest in Bitcoin but it is better to invest in what you believe.

many people Dey always think say bitcoin na something wey be say them go invest and they will be expecting say them don get opportunity to become rich.

Me, I no dey like to use the word "invest" when talking about Bitcoin. Using the word "invest" only means, you are operating on a different platform that requires Bitcoin to settle on a stage by stage investment category like Gold, silver, platinum, legendary, e.t.c with a required and agreed percentage where expert traders uses your Bitcoin to trade and credit you depending on the category you engage in.

Meanwhile, Bitcoin is an asset where you only "Buy" and 'Sell"  not "invest" . Watch closely, all exchange either cex or dex uses the Green and Red button, Buy and sell not invest when acquiring a coin. So it's never advisable to use the word invest when talking about bitcoin, it's simply buy and sell, so you won't lull people into thinking differently.

Don't buy Bitcoin and expect to get rich soon, it's just a means of been your own bank and sending money fastly whenever you want.

[Marykeller]

From what we have seen so far from Bitcoin investment, we go fit sae Bitcoin is at the process of fulfilling its true purpose. For the time being, we go fit say Bitcoin has successfully achieved being decentralized, creating financial stability to some people, alternative to traditional fiat, as another store of value, censored resistance in the sense that anybody in the world can invest in it freely without any condition and lastly its security and transparency na wetin peso go fit trust in the network.

Apart from the stated purpose above, the remaining true purpose wey Bitcoin need to actualize in the future na to be widely accepted globally. Once Bitcoin don finally achieves that, em don successfully fulfill all the true purposes behind its creation.

[CryptopreneurBrainboss]

IMake we no lie for our selves everybody want this profit, if not them too no go like invest for bitcoin if profit no dey and this bitcoin stuff no be do or die mata if you no get money to invest work hard to get am no kill your self just because you too wan join your friends or you wan follow them do competition.

Na the profits all of us dey here for na because Bitcoin self never get better utilities yet as e never dey accepted for the country. Nobody for Nigeria dey use Bitcoin buy any better things unless you dey shop from outside wey be say you go pay with Bitcoin. E no come bad say we dey here for the profits because all this one follow for the reason Bitcoin was invented to give back the common man hope as the elites dem, dun centralized everything. Even the investment opportunities dem.dey hide am from us and when e go reach our side, dem go come use us as exit liquidity.

From what we have seen so far from Bitcoin investment, we go fit sae Bitcoin is at the process of fulfilling its true purpose. For the time being, we go fit say Bitcoin has successfully achieved being decentralized, creating financial stability to some people, alternative to traditional fiat, as another store of value, censored resistance in the sense that anybody in the world can invest in it freely without any condition and lastly its security and transparency na wetin peso go fit trust in the network.

Bitcoin true purpose was to be a currency based on say Satoshi been dun see say the government wan imprison everybody under this fiat money system wey dem create. Bitcoin was to be the way out as an alternative currency wey we fit dey use so that one never dey happen yet but as an assets, Bitcoin dun achieve that one. Government fit no allowance Bitcoin to be an adopted currency officially but soon dem no go fit stop us when we decide say na Bitcoin we want use to dey transact. E go first start online before it goes physically in stores.

[EL MOHA]

Me, I no dey like to use the word "invest" when talking about Bitcoin. Using the word "invest" only means, you are operating on a different platform that requires Bitcoin to settle on a stage by stage investment category like Gold, silver, platinum, legendary, e.t.c with a required and agreed percentage where expert traders uses your Bitcoin to trade and credit you depending on the category you engage in.

Meanwhile, Bitcoin is an asset where you only "Buy" and 'Sell"  not "invest" . Watch closely, all exchange either cex or dex uses the Green and Red button, Buy and sell not invest when acquiring a coin. So it's never advisable to use the word invest when talking about bitcoin, it's simply buy and sell, so you won't lull people into thinking differently.

Don't buy Bitcoin and expect to get rich soon, it's just a means of been your own bank and sending money fastly whenever you want.

All this one’s wey you talk now na just Normal talk, if them get anything wey person suppose use the word tag ‘invest on’ I tell you this bitcoin is also that thing. Invest is simply an item or asset that you put your money with the expectation of it gaining value or bring profits over a period of time. I tell you this bitcoin is that asset, even if we all warn about the expectations of its profits just to make newbies wary of its risk there is a great potential of it  to grow into profits when hodl for a long period of time. So investing is the right word to use on bitcoin and nothing wrong about.