Hodl (Naija)

[cxtreenal]

~~~

For example, let’s say you keep your entire $5,000 emergency fund in the form of bitcoin and an emergency now  comes up when the market is down, if bitcoin drops by 30%, then that means your $5,000 emergency funds that is in the form of bitcoin would suddenly become worth only $3,500 at that particular time. And because of the fact that emergencies can’t wait for the market to recover first, you could be forced to sell at a loss just to handle that emergency situation. I hope you get my point now? @Versatile_choice.

Yes, I get your point. but still it doesn't make sense to put our emergency money in bitcoin knowing fully well that the price is not always stable. Emergency fund should be hold in fiat and not in bitcoin, I know some might be doing that so that they don't get affected by inflation but there's no need for that, because it's the money we will be needing anytime soon so inflation may not eat it up so easily. the only money that is supposed to be put or invest in bitcoin is the money we may not be needing anytime soon, perhaps in the future. That is why it's advised to invest from our discretionary funds, because it is gotten after all our expenses is been figured out which can also be seen as Left over and we can decide to spend it in whatever it is that we would like to spend it.

It is not a good idea for an emergency funds to be used to buy bitcoin because this will definitely define the purpose for which it is meant for. An emergency funds should be in a form that it can easily be accessible whenever it needs arises in the future. Therefore, having It in bitcoin is wrong because when the need arise and it happens the price of bitcoin is low compared to the price it was purchased, then the person will be selling at lost.

If you have an emergency fund size that is large enough, you can accumulate Bitcoin. For example, you have an emergency fund available to cover 6 months of household expenses. In this situation, if you think that having an emergency fund of 3 or 4 months will protect your Bitcoin holdings considering your financial situation then accumulation Bitcoin through an extra amount of funds would be a good strategy. This strategy is best applied during times when Bitcoin price is in a declining period.

The purpose of having an emergency fund is to create a financial safety net to deal with emergencies, rather than withdrawing Bitcoin holdings, and continuing this process in the long term.

[Obulis]

People get carried away with quick gain but hodling Bitcoin is good better best. There was thread trying or questioning about the next leading asset but that question might take even a century for another asset to take on board so that means hodling Bitcoin is not a mistake. Hodling Bitcoin without looking black, Bitcoin is the leader asset, hold Bitcoin in your life time.

[Versatile_choice]

[Edited out]

You’re still not getting me, are you even reading my write up well to understand ?
I never said it’s a good idea to put emergency funds in the form bitcoin, in fact that is exactly what I’m kicking against. I’m fed up at this point, if you guys can’t properly read and understand a simple statement then I don’t know what I can do again.

If there's anyone who is misunderstanding things here it should be you, i was not referring to you rather, I'm just responding to what you said about folks who are putting thier emergency money into bitcoin. I know you are also kicking against it, maybe you don't understand what I wrote. I think you should read through it so that you will understand more better.

Or should I break it down so that you will understand? Ok! What I was trying to say is that it's bad for investor to put his or her emergency money in bitcoin due to the fact that the price is not stable, because we might need them  anytime. Our emergency money should be hold in Fiat or in any where we can access them freely when we are in need of it.

[Orpichukwu]

People get carried away with quick gain but hodling Bitcoin is good better best. There was thread trying or questioning about the next leading asset but that question might take even a century for another asset to take on board so that means hodling Bitcoin is not a mistake. Hodling Bitcoin without looking black, Bitcoin is the leader asset, hold Bitcoin in your life time.

Bitcoin holding for a long period profit is indeed more secure than you could possibly lose in that journey; fast profit is not the only thing denying some people from holding for a long time, but lack of good financial management also has its own role. When you are spending more than you are making, you could always be forced to sell and spend the coin that has already been accumulated.

[Dzwaafu11]

People get carried away with quick gain but hodling Bitcoin is good better best. There was thread trying or questioning about the next leading asset but that question might take even a century for another asset to take on board so that means hodling Bitcoin is not a mistake. Hodling Bitcoin without looking black, Bitcoin is the leader asset, hold Bitcoin in your life time.

You know the problem that people have when it comes to Bitcoin investment is the fact that many of them believe that Bitcoin investment will make them rich in a short period of time, which is a lie.

Although, this is lack of knowledge that is why I don't blame them dometime, the only time I blame such people is when they rush without knowing how the market moves. Or someone who invest in Bitcoin because he see another person cash out from Bitcoin, this is what many of the newbies face, and they think its a easy stuff.

[Stormisover]

People get carried away with quick gain but hodling Bitcoin is good better best. There was thread trying or questioning about the next leading asset but that question might take even a century for another asset to take on board so that means hodling Bitcoin is not a mistake. Hodling Bitcoin without looking black, Bitcoin is the leader asset, hold Bitcoin in your life time.

You know the problem that people have when it comes to Bitcoin investment is the fact that many of them believe that Bitcoin investment will make them rich in a short period of time, which is a lie.

Although, this is lack of knowledge that is why I don't blame them dometime, the only time I blame such people is when they rush without knowing how the market moves. Or someone who invest in Bitcoin because he see another person cash out from Bitcoin, this is what many of the newbies face, and they think its a easy stuff.

Those who has benefited from some Ponzi scheme as altcoins has made some people believe that anything cryptocurrency is of quick money including Bitcoin which is wrong, they forgot that most people has also lost their money while involving in most of the shitcoins, newbies seeing others cashing out on Bitcoin without knowing how far they must have been in to Bitcoin and they just want to become like them overnight and rush in to Bitcoin investment, knowing that Bitcoin is a long term investment should be the foundation of every newbies coming in to Bitcoin.

[Bigjoe33]

People get carried away with quick gain but hodling Bitcoin is good better best. There was thread trying or questioning about the next leading asset but that question might take even a century for another asset to take on board so that means hodling Bitcoin is not a mistake. Hodling Bitcoin without looking black, Bitcoin is the leader asset, hold Bitcoin in your life time.

Bitcoin holding for a long period profit is indeed more secure than you could possibly lose in that journey; fast profit is not the only thing denying some people from holding for a long time, but lack of good financial management also has its own role. When you are spending more than you are making, you could always be forced to sell and spend the coin that has already been accumulated.

Of course, lack of financial discipline and management is a major problem to many investors all over the world. When you can't control and manage your resources well, getting involved in impulse buying. Buying without planning, extravagant lifestyle and the lots of them are a big problem to holding your stash for a longer period of time.

If an investor must do well and HODL for long, he must, while investing consistently, building back up funds, he should also ensure to manage his income properly and carry out a proper income allocation so that he doesn't spend his money on the unnecessary things whole affecting his investment ignorantly in the future

[Karl_3000]

Bitcoin price:
₦87,199,756 ($64,063  €55,824  £48,258).

If you have an emergency fund size that is large enough, you can accumulate Bitcoin. For example, you have an emergency fund available to cover 6 months of household expenses. In this situation, if you think that having an emergency fund of 3 or 4 months will protect your Bitcoin holdings considering your financial situation then accumulation Bitcoin through an extra amount of funds would be a good strategy. This strategy is best applied during times when Bitcoin price is in a declining period.

The money for my household is even not part of my discretionary income, but my emergency fund is part of my discretionary income. I have not been using the emergency fund and I know what happened when naira to dollar went from 484 to 1500 naira. I should have just put it in bitcoin instead. It is more like savings for me because I am not touching it and it keep piling up.

[cxtreenal]

Bitcoin price:
₦87,199,756 ($64,063  €55,824  £48,258).

If you have an emergency fund size that is large enough, you can accumulate Bitcoin. For example, you have an emergency fund available to cover 6 months of household expenses. In this situation, if you think that having an emergency fund of 3 or 4 months will protect your Bitcoin holdings considering your financial situation then accumulation Bitcoin through an extra amount of funds would be a good strategy. This strategy is best applied during times when Bitcoin price is in a declining period.

The money for my household is even not part of my discretionary income, but my emergency fund is part of my discretionary income. I have not been using the emergency fund and I know what happened when naira to dollar went from 484 to 1500 naira. I should have just put it in bitcoin instead. It is more like savings for me because I am not touching it and it keep piling up.

It is wise to keep your emergency fund within a certain range so that inflation does not erode the value of your cash. I have read several articles on the size of your emergency fund, where they recommend that investors base their accumulation Bitcoin and financial situation on their income, but I find it easier to keep this amount in the range of 3-6 months. I strongly believe that you should have an emergency fund that can cover 3 months of household expenses and keep your Bitcoin holdings in a safe zone.

[Karl_3000]

Bitcoin price:
₦85,268,216 ($62,413  €54,314  £47,233).

[Barikui1]

Bitcoin price:
₦85,268,216 ($62,413  €54,314  £47,233).

When I look at the Bitcoin chart this morning, it is very obvious that the market is bleeding, and with the technical analysis I did on a weekly and daily timeframe, it entails that bitcoin price is heading to $56k soon, and if more people sold their holdings, then we should be expecting bitcoin at $45k, but since the market is very unpredictable, we can't be too sure, because so many things can go right or wrong very fast in a twinkle of an eye in the market, which is the main reason careless traders lose money in the market, but as for the holders, we should seize this opportunity to accumulate it at a discount rate because this price may never come again if we fail to buy and accumulate it now.

[Sticky Bomb]

~~~

For example, let’s say you keep your entire $5,000 emergency fund in the form of bitcoin and an emergency now  comes up when the market is down, if bitcoin drops by 30%, then that means your $5,000 emergency funds that is in the form of bitcoin would suddenly become worth only $3,500 at that particular time. And because of the fact that emergencies can’t wait for the market to recover first, you could be forced to sell at a loss just to handle that emergency situation. I hope you get my point now? @Versatile_choice.

Yes, I get your point. but still it doesn't make sense to put our emergency money in bitcoin knowing fully well that the price is not always stable. Emergency fund should be hold in fiat and not in bitcoin, I know some might be doing that so that they don't get affected by inflation but there's no need for that, because it's the money we will be needing anytime soon so inflation may not eat it up so easily. the only money that is supposed to be put or invest in bitcoin is the money we may not be needing anytime soon, perhaps in the future. That is why it's advised to invest from our discretionary funds, because it is gotten after all our expenses is been figured out which can also be seen as Left over and we can decide to spend it in whatever it is that we would like to spend it.

It is not a good idea for an emergency funds to be used to buy bitcoin because this will definitely define the purpose for which it is meant for. An emergency funds should be in a form that it can easily be accessible whenever it needs arises in the future. Therefore, having It in bitcoin is wrong because when the need arise and it happens the price of bitcoin is low compared to the price it was purchased, then the person will be selling at lost.

If you have an emergency fund size that is large enough, you can accumulate Bitcoin. For example, you have an emergency fund available to cover 6 months of household expenses. In this situation, if you think that having an emergency fund of 3 or 4 months will protect your Bitcoin holdings considering your financial situation then accumulation Bitcoin through an extra amount of funds would be a good strategy. This strategy is best applied during times when Bitcoin price is in a declining period.

The purpose of having an emergency fund is to create a financial safety net to deal with emergencies, rather than withdrawing Bitcoin holdings, and continuing this process in the long term.

I support this, there's no benefit of stacking up cash unnecessarily when your Bitcoin portfolio remains very little, since you've a larger supply of cash as emergency fund, you can even divide it into half and put it into Bitcoin, while you retain the 50% for emergency purposes. You can still continue building your portfolio as well as your emergency fund simultaneously and slowly get it back to it's initial size. Some people would argue that it's the same thing, but it isn't, it's important that you get ahead in your accumulation journey as fast as you can without any form of financial pressure and continue your long-term holding journey in it. Your portfolio deserves a good priority and it's good if it receives such.

[Charles-Tim]

When I look at the Bitcoin chart this morning, it is very obvious that the market is bleeding, and with the technical analysis I did on a weekly and daily timeframe, it entails that bitcoin price is heading to $56k soon, and if more people sold their holdings, then we should be expecting bitcoin at $45k, but since the market is very unpredictable, we can't be too sure, because so many things can go right or wrong very fast in a twinkle of an eye in the market, which is the main reason careless traders lose money in the market, but as for the holders, we should seize this opportunity to accumulate it at a discount rate because this price may never come again if we fail to buy and accumulate it now.

I saw some posts suggesting that bitcoin might plummet below $55000, but still be above $50000 as the bottom. Everything are just analyses, but which might be true or not true. There has still been resistance at $60000 despite that bitcoin fell below $59000 this month. If bitcoin fall below $60000, there will be a resistance above $50000, but if it falls below $50000, there should be a strong resistance at $50000, provided if bitcoin gets below the price. If that happens, there will be more opportunities to buy bitcoin at lower prices.

[Yablee0]

Bitcoin price:
₦85,268,216 ($62,413  €54,314  £47,233).

When I look at the Bitcoin chart this morning, it is very obvious that the market is bleeding, and with the technical analysis I did on a weekly and daily timeframe, it entails that bitcoin price is heading to $56k soon, and if more people sold their holdings, then we should be expecting bitcoin at $45k, but since the market is very unpredictable, we can't be too sure, because so many things can go right or wrong very fast in a twinkle of an eye in the market, which is the main reason careless traders lose money in the market, but as for the holders, we should seize this opportunity to accumulate it at a discount rate because this price may never come again if we fail to buy and accumulate it now.

I just hope that this recent development concerning the price fall won't cause many investors especially newbies to panic and start selling at lost, instead let it be seen as a great opportunity to buy in large stash of it instead of getting emotional. I know this is a very challenging moment for those that are just starting, perhaps will be skeptical of losing their funds, but the goods news is that this is just a simple sign that Bitcoin is about skyrocketing into something we can't imagine. No need to be afraid, instead let's get all our discretionary funds ready because a clear atmosphere to stack more of Bitcoin in to our portfolio is about to emerge.

[Salahmu]

It is wise to keep your emergency fund within a certain range so that inflation does not erode the value of your cash. I have read several articles on the size of your emergency fund, where they recommend that investors base their accumulation Bitcoin and financial situation on their income, but I find it easier to keep this amount in the range of 3-6 months. I strongly believe that you should have an emergency fund that can cover 3 months of household expenses and keep your Bitcoin holdings in a safe zone.

Yeah is a cool period for an emergency funds but however after making the plans of three months emergency funds it should always be attended to in terms making more increases on the emergency funds from time to time because we are in the economy that you cannot determine the next day price of things because that's the only means you could actually no that you have an effective emergency funds because it has been unfortunate that some persons claim to have an emergency funds that can take them a long period but any little challenge they will not have another emergency funds after it.

[Karl_3000]

Bitcoin price:
₦85,848,830 ($62,705  €54,961  £47,565).

I just hope that this recent development concerning the price fall won't cause many investors especially newbies to panic and start selling at lost, instead let it be seen as a great opportunity to buy in large stash of it instead of getting emotional. I know this is a very challenging moment for those that are just starting, perhaps will be skeptical of losing their funds, but the goods news is that this is just a simple sign that Bitcoin is about skyrocketing into something we can't imagine.

The mistake that i noticed newbies are making is that they are having the naira or fiat estimates of their bitcoin holding on their wallet, instead to disable it and be seeing only bitcoin the the wallet. I noticed this wanted to have effect on me like I should convert the bitcoin to fiat or stable coins when bitcoin was falling but instead of sending the coin for convertion, I disabled the fiat estimation which is helping.

[Big Dirams]

Bitcoin price:
₦85,848,830 ($62,705  €54,961  £47,565).

I just hope that this recent development concerning the price fall won't cause many investors especially newbies to panic and start selling at lost, instead let it be seen as a great opportunity to buy in large stash of it instead of getting emotional. I know this is a very challenging moment for those that are just starting, perhaps will be skeptical of losing their funds, but the goods news is that this is just a simple sign that Bitcoin is about skyrocketing into something we can't imagine.

The mistake that i noticed newbies are making is that they are having the naira or fiat estimates of their bitcoin holding on their wallet, instead to disable it and be seeing only bitcoin the the wallet. I noticed this wanted to have effect on me like I should convert the bitcoin to fiat or stable coins when bitcoin was falling but instead of sending the coin for convertion, I disabled the fiat estimation which is helping.

That quite true because as a newbie when we see our holdings in fiat which is naira will definitely triggers us to withdraw our holdings because such money in naira form will definitely be a huge amount of money so easily we will get triggered by the huge funds.
You did made good point by turning off or switching your balances on your wallet from fiat form into bitcoin price because with that you won’t be trigger about the dips or seeing our holdings falling from so much amount into little amount.

[liasbaa]

Bitcoin price:
₦85,268,216 ($62,413  €54,314  £47,233).

When I look at the Bitcoin chart this morning, it is very obvious that the market is bleeding, and with the technical analysis I did on a weekly and daily timeframe, it entails that bitcoin price is heading to $56k soon, and if more people sold their holdings, then we should be expecting bitcoin at $45k, but since the market is very unpredictable, we can't be too sure, because so many things can go right or wrong very fast in a twinkle of an eye in the market, which is the main reason careless traders lose money in the market, but as for the holders, we should seize this opportunity to accumulate it at a discount rate because this price may never come again if we fail to buy and accumulate it now.

I just hope that this recent development concerning the price fall won't cause many investors especially newbies to panic and start selling at lost, instead let it be seen as a great opportunity to buy in large stash of it instead of getting emotional. I know this is a very challenging moment for those that are just starting, perhaps will be skeptical of losing their funds, but the goods news is that this is just a simple sign that Bitcoin is about skyrocketing into something we can't imagine. No need to be afraid, instead let's get all our discretionary funds ready because a clear atmosphere to stack more of Bitcoin in to our portfolio is about to emerge.

You are right. During this emotional period of Bitcoin price decline, investors have decided to use their capital in different ways. Although the time is considered difficult for new investors, the current time is very positive for them. The time is going on a rally in the price and now is the best time to accumulate Bitcoin. Don't panic during the price decline and buy more Bitcoin and it will be the best investment decision for you.
If you have started accumulating Bitcoin recently, it is the best time for you to invest in the long term because the correction period is currently going through before the bull run begins, which is the normal movement of the market. If you are a new investor you should not panic because the initial period of investment is going through a good time for the future and if you have extra available funds, this bearish period is a best opportunity to buy more Bitcoin.

[Exitoral]

Bitcoin price:
₦85,268,216 ($62,413  €54,314  £47,233).

First of all I want to appreciate you for doing this. But can we just stick with Naira and dollar only. If possible just naira itself. Instead of adding euro and pounds to it. Is that possible?

The question is how much bitcoin can you hold weekly from the income you earn weekly? If you earn monthly, just divide the amount by 4, what percentage from the income can you use to invest in bitcoin?

This thread is not for the weak people that will buy bitcoin today and sell bitcoin tomorrow, we are holding for years.

We would also use this thread to discuss about bitcoin price frequently.

Hold bitcoin for retirement time, hold bitcoin during the lifetime.

We hold bitcoin we hold value.

Naira? You all know better.

Some people are complaining that not everyone can invest on bitcoin weekly or monthly, please do not derail this topic with that. This thread are for bitcoin holders, speculating the price of bitcoin and how bitcoin price will be increasing. It is not necessary to invest in bitcoin, please do not derail this topic with such complaints.

If you earn $2000 throughout the whole year, and you invest $200 in bitcoin throughout the whole year, that is just 10%. If you know that you can not invest up to 10% and you want me to add 1%, 2%, 5% to the poll, I can add it.


These are examples of what we can post about:
1. Encouraging people to hold bitcoin
2. Discouraging trading. Another topic can be created for trading
3. Positive news about bitcoin and news about bitcoin
4. Long term bitcoin price speculation
5. News about how to avoid scammers and hackers
6. Information about privacy, security and safety
7. The importance of self-custody.

At the end of the day, the main thing about investing in Bitcoin should be based on one's capacity and not another person deciding for you. That person may be speaking from his own pocket capacity. One shouldn't even eliminate consistency from the conversation. You can start now and end up not completing it. Start and make sure it continues.

[Karl_3000]

Bitcoin price:
₦83,373,386 ($60,763  €53,560  £46,194).

First of all I want to appreciate you for doing this. But can we just stick with Naira and dollar only. If possible just naira itself. Instead of adding euro and pounds to it. Is that possible?

I have asked questions about this before, but it was about if anyone want another currencies to be added to the 3 that I have added.

I can not leave it alone only in naira because people like to see the price of bitcoin also in dollar. The othereo that I added also is good. If you want me to add more currencies, you can name them, no need to suggest that I should remove foreign currencies. The main currency is the naira.

I hope people will keep accumulating bitcoin because these are the best time to buy more bitcoin.

What price do you think bitcoin can fall to? I mean the bottom.