Hodl (Naija)

[The Founding Titan]

Aside to hold bitcoin for long period seff, instead of make person save for fiat i go advice make e leave the money for bitcoin because the way fiat dey devalue na something of great concern. I just pity those people wey still dey pack money dey go full their banks,

You know most time people aren't really educated enough to know about Bitcoin, and that is why they still pack money In fait, most times they try to save in other country currencies like $ because of inflation the inflation in their country is worse than than that of the other country. so they try to save in there, meanwhile if they know well about Bitcoin and trust it then they will definitely want to invest. Nevertheless we all should tell more people about Bitcoin especially those your friends that have some good amount of money.

that one to is a factor but there people that the same time they are not educated but when it comes to investment they are good with numbers and money and even for them to try and save money in other peoples currency is enough for people to also be able to invest in bitcoin because it only takes for you to know how to buy and sell and then know when to sell buying has lesser concern because if you should look at it DCA is already one of the ways that make buying very easy.

so were most people become confused is when they want to sell, because it is usually a big problem, but with time and consistency, they find it very easy for them to be able to sell, so the basics are even more than enough to know how to buy and sell at the same time.

One don't necessarily need a finance degree to invest in Bitcoin once once anyone understands the basics of purchasing , selling , and stays consistent , they can improve ove time. The hard part for many is understanding when to sell and that's something experience helps one. education can help, but discipline and willingness to learn from people matter just as much. DCA makes purchasing less stressful , while selling usually takes more patient and confidence.

Bitcoin investment is actually basic that anyone who wants to invest will be able to grasp it very easily and quickly too, any delay ot it will be because the person wants to delay and not because grasping bitcoin investment was difficult for them, in the simplest of terms; just buy and hold, a bit of an expansion on this will give you everything you need to know about bitcoin investment.
Be sure to buy only with your discretionary income and be willing to HODL for long, to have any shot at success you have to HODL for long, anything other than that and you will end up among those who call bitcoin a scam.

[Princess Leah]

One don't necessarily need a finance degree to invest in Bitcoin once once anyone understands the basics of purchasing , selling , and stays consistent , they can improve ove time. The hard part for many is understanding when to sell and that's something experience helps one. education can help, but discipline and willingness to learn from people matter just as much. DCA makes purchasing less stressful , while selling usually takes more patient and confidence.

Bitcoin investment is actually basic that anyone who wants to invest will be able to grasp it very easily and quickly too, any delay ot it will be because the person wants to delay and not because grasping bitcoin investment was difficult for them, in the simplest of terms; just buy and hold, a bit of an expansion on this will give you everything you need to know about bitcoin investment.
Be sure to buy only with your discretionary income and be willing to HODL for long, to have any shot at success you have to HODL for long, anything other than that and you will end up among those who call bitcoin a scam.

If you say its easy to grasp then you're very correct but practicalising holding for long term is tough for many people cause some don't have patient, easily influenced by volatility and barely have convinction. Patience is only tough value that many people in our country lack, the majority want to be financially free but in a quick way.

 It takes someone who's very seriously about being financially free with Bitcoin to understand that it's not going to happen quickly but with time, then maintain patience in holding for years while continuing accumulating to increase the portfolio. Bitcoin would always and only reward those with a long term mentality.

[Charles-Tim]

If you say if easy to grasp then you're very correct but practicalising holding for long term is tough for many people cause some don't have patient, easily influenced by volatility and barely have convinction. Patience is only tough value that many people in our country lack, the majority want to be financially free but in a quick way.

I know someone that bought bitcoin around ₦90,350,000 ($64500), but the person sold when bitcoin fell below $60000 the second time. He told me after bitcoin has just risen hack above $62000. Bitcoin got to $65000 today. I believe many people are like him, the are controlled by emotions of not to lose more money. I think it may not be easy to hold, it takes discipline and determination.

[The Founding Titan]

One don't necessarily need a finance degree to invest in Bitcoin once once anyone understands the basics of purchasing , selling , and stays consistent , they can improve ove time. The hard part for many is understanding when to sell and that's something experience helps one. education can help, but discipline and willingness to learn from people matter just as much. DCA makes purchasing less stressful , while selling usually takes more patient and confidence.

Bitcoin investment is actually basic that anyone who wants to invest will be able to grasp it very easily and quickly too, any delay ot it will be because the person wants to delay and not because grasping bitcoin investment was difficult for them, in the simplest of terms; just buy and hold, a bit of an expansion on this will give you everything you need to know about bitcoin investment.
Be sure to buy only with your discretionary income and be willing to HODL for long, to have any shot at success you have to HODL for long, anything other than that and you will end up among those who call bitcoin a scam.

If you say its easy to grasp then you're very correct but practicalising holding for long term is tough for many people cause some don't have patient, easily influenced by volatility and barely have convinction. Patience is only tough value that many people in our country lack, the majority want to be financially free but in a quick way.

 It takes someone who's very seriously about being financially free with Bitcoin to understand that it's not going to happen quickly but with time, then maintain patience in holding for years while continuing accumulating to increase the portfolio. Bitcoin would always and only reward those with a long term mentality.

My point is that knowing what to do is easy but there is a difference between knowing what to do and actually being able to do it, so while it might be easy to grasp what is needed to invest in bitcoin it will take alot of discipline to actually be able to buy and hold for as long as is needed is a different story, if you are not able to discipline yourself you will not be able to HODL like alot of people who bought when the price was high but ended up selling because of the dip that is happening.

If you say if easy to grasp then you're very correct but practicalising holding for long term is tough for many people cause some don't have patient, easily influenced by volatility and barely have convinction. Patience is only tough value that many people in our country lack, the majority want to be financially free but in a quick way.

I know someone that bought bitcoin around ₦90,350,000 ($64500), but the person sold when bitcoin fell below $60000 the second time. He told me after bitcoin has just risen hack above $62000. Bitcoin got to $65000 today. I believe many people are like him, the are controlled by emotions of not to lose more money. I think it may not be easy to hold, it takes discipline and determination.

There are alot of people like this and until they are able to keep their emotions in check then they will never be able to hold bitcoin long term.

[Karl_3000]

Bitcoin price:
₦88,412,823 ($64,156 €55,932 £47,536).

My point is that knowing what to do is easy but there is a difference between knowing what to do and actually being able to do it, so while it might be easy to grasp what is needed to invest in bitcoin it will take alot of discipline to actually be able to buy and hold for as long as is needed is a different story, if you are not able to discipline yourself you will not be able to HODL like alot of people who bought when the price was high but ended up selling because of the dip that is happening.

Some people will have both bitcoin and fiat estimates on their bitcoin wallet balance, this is also very bad. When the price of bitcoin is falling, some people do not react to it, but when they check the price of their bitcoin holding in fiat, they may because of that sell their bitcoin. But it is very good not to bother checking the price of bitcoin at all because those that check it often also can be emotionally affected to sell their bitcoin.

[BluebloodCXVI]

Bitcoin price:
₦88,412,823 ($64,156 €55,932 £47,536).

My point is that knowing what to do is easy but there is a difference between knowing what to do and actually being able to do it, so while it might be easy to grasp what is needed to invest in bitcoin it will take alot of discipline to actually be able to buy and hold for as long as is needed is a different story, if you are not able to discipline yourself you will not be able to HODL like alot of people who bought when the price was high but ended up selling because of the dip that is happening.

Some people will have both bitcoin and fiat estimates on their bitcoin wallet balance, this is also very bad. When the price of bitcoin is falling, some people do not react to it, but when they check the price of their bitcoin holding in fiat, they may because of that sell their bitcoin. But it is very good not to bother checking the price of bitcoin at all because those that check it often also can be emotionally affected to sell their bitcoin.

A panic seller is a panic seller regardless of whether they see their bitcoin balance in fiat or the current bitcoin price on their wallets or not. But if they are so bothered by that, they should simply use the hide balance features on the  wallet.

Besides, even if the wallets doesn’t show all those things, they will eventually see it somewhere else probably on an exchange, price tracker or even on social media so I don’t think removing the fiat balance from a wallet is the solution for panic selling, that will only just hide the numbers.

What really matters is the mindset an investor has. If they understand what they own and they’re thinking long term, a drop in the price of bitcoin shouldn’t be reason enough to shake them out of their position.

[Princess Leah]

Bitcoin price:
₦88,412,823 ($64,156 €55,932 £47,536).

My point is that knowing what to do is easy but there is a difference between knowing what to do and actually being able to do it, so while it might be easy to grasp what is needed to invest in bitcoin it will take alot of discipline to actually be able to buy and hold for as long as is needed is a different story, if you are not able to discipline yourself you will not be able to HODL like alot of people who bought when the price was high but ended up selling because of the dip that is happening.

Some people will have both bitcoin and fiat estimates on their bitcoin wallet balance, this is also very bad. When the price of bitcoin is falling, some people do not react to it, but when they check the price of their bitcoin holding in fiat, they may because of that sell their bitcoin. But it is very good not to bother checking the price of bitcoin at all because those that check it often also can be emotionally affected to sell their bitcoin.

For someone without conviction, checking the market too often could affect the person's mentality, it's something that relates with psychology for instance you're hoping on profits when constantly check to see that you're at lose, if you don't have conviction that the market would recover you'll likely get emotional and sell so you won't lose more.

 That's why instead of to constantly check the market it's better to just take your mind off it cause it can be manipulative especially to new investors. Although I get your point concerning leaving the price in Bitcoin instead of fiat but someone with conviction like I said earlier doesn't mind whether the price is in fiat or Bitcoin but just believe that the market would recover after dip.

[liasbaa]

If you say if easy to grasp then you're very correct but practicalising holding for long term is tough for many people cause some don't have patient, easily influenced by volatility and barely have convinction. Patience is only tough value that many people in our country lack, the majority want to be financially free but in a quick way.

I know someone that bought bitcoin around ₦90,350,000 ($64500), but the person sold when bitcoin fell below $60000 the second time. He told me after bitcoin has just risen hack above $62000. Bitcoin got to $65000 today. I believe many people are like him, the are controlled by emotions of not to lose more money. I think it may not be easy to hold, it takes discipline and determination.

There are examples of people who bought Bitcoin and sold in panic lured by fake news on social media. The fact that Bitcoin price is falling due to global instability seems to be more credible. This is a very difficult time for Bitcoin investors. If you have the knowledge about the fact that Bitcoin’s price goes through cycles of rise and fall, you can consider each decline as an opportunity and continue to buy Bitcoin regularly.

But everyone who panicked and withdrew Bitcoin regretted it. I know of many examples of people who withdrew their holdings in a very short period of time but recovered the value within a few weeks. Bitcoin is a great investment for patient and long term investors.

[Rockson1]

For someone without conviction, checking the market too often could affect the person's mentality, it's something that relates with psychology for instance you're hoping on profits when constantly check to see that you're at lose, if you don't have conviction that the market would recover you'll likely get emotional and sell so you won't lose more.

 That's why instead of to constantly check the market it's better to just take your mind off it cause it can be manipulative especially to new investors. Although I get your point concerning leaving the price in Bitcoin instead of fiat but someone with conviction like I said earlier doesn't mind whether the price is in fiat or Bitcoin but just believe that the market would recover after dip.

For someone to keep checking the market, it is a sign of confusion running through the mind of such person, just take for exemple someone that has decided to buy Bitcoin consistently and Hodl for a long-term, even though such person will check the market, it would not be frequent and it will be for a good reason not to panic but the thing is that to avoid all the unnecessary drama in the Bitcoin market, checking the all the time is not a good idea.

There is something every investor need to understand, the more you check the market, the more you are tempted to take a decision that you might regret later.