A poor investor is accumulating Bitcoin to build a house !

[Father111]

I am a poor investor who is regularly accumulating Bitcoin to build a house. I live in a rented house. I am living in the city in search of work and have hopes of buying a house. Buying a house in the city requires a lot of money. I am buying Bitcoin every week without depositing fiat to buy a house and I have set the period of this accumulate as 10 years. During this period, I have prepared to hold Bitcoin in any price trend. Because accumulating Bitcoin is better than accumulate fiat.

Don't think it is ridiculous. If a poor person makes the mental preparation to build a house through hard work and remains steadfast in his goal, his expectations will definitely be fulfilled. Increase your skills and try to change your destiny through hard work. Whether you are middle class or lower class, your expectations will be fulfilled.

Do you think I can do it?

It is a nice idea and a wise decision you have taken and with this your decision many investors here we also increased their effort in buying and accumulating bitcoin so that he can build a house also, truly many investors left theirs countries, state and community just in looking for greenpasture and still has bills to pay at the same time.

[Fiasem20]

You’ve made a good decision for choosing bitcoin over fiat for the long term.Anyways,this dreams of yours would only be fulfilled if you’re consistent and not double minded.When you start investing in bitcoin don’t fix your mindset in diversifying shitcoins rather you can diversify other physical investment that would be profitable in the long term.Your topic seemed a bit hilarious actually,when I saw the heading I was moved to click and read the content of the Op,my advice to you is to remain focused and consistent and in due time your dreams would become your reality.

[Akaenyi]

If you plan to build your dream house in the next 10 years with your Bitcoin profit and capital you should know that talk is cheap and you must be accumulating till that time. Anything that disturbs your DCA strategy will be a stumbling block for you like lack of money to accumulate or a problem that warrants you to sell prematurely before then. As far as you are focused on your goal and you have discretionary funds to continuously buy you can achieve your dream. Even if you don't make enough money to build that mansion you can atleast afford to build a modest house according to your net worth by then.

[Odogwu-Blockchain]

You can do that without failure, you can reach your goal and you'll be happy you choose Bitcoin and make such decisions for yourself. But there is a problem if you have chosen this journey.

How strong is your source of income, are you on a standby source of income that can never fail in 10 years to come? Because that could be the major standpoint of this journey,

If your source of income is strong enough, congratulations, you have gotten a house in 10 years coming.

Sometimes we don't need to have a strong source of income before getting started with your bitcoin investment, there are people who still good source of income but due to expenses and responsibilities involved he may not still have a discretionary income to invest with though to start up we need to have some thing that gives us money but doesn't mean we should have a good one, you can be investing and also increasing your source of income.

One time purchase of Bitcoin can't get you build a house in 10 years time, and if a user had decided to go on the journey, he has to be a consistent earner because Bitcoin investment whether once or consecutively is isn't for the weak.

The weak user sells it off for survival if there is no stable source of funds, that's my point.

So OP has to make sure he's secured financially to get his goal.

[ejikeme24]

If you plan to build your dream house in the next 10 years with your Bitcoin profit and capital you should know that talk is cheap and you must be accumulating till that time. Anything that disturbs your DCA strategy will be a stumbling block for you like lack of money to accumulate or a problem that warrants you to sell prematurely before then. As far as you are focused on your goal and you have discretionary funds to continuously buy you can achieve your dream. Even if you don't make enough money to build that mansion you can atleast afford to build a modest house according to your net worth by then.

It's funny how most people sees bitcoin investment, some people seem to have forgotten that there's no guarantee about the outcome of our investment, planning to build house with your bitcoin investment is like making unrealistic expectations because there's no certainty in what you're planning but if it's your personal believe then I will pray it works for you but before one should think about something like this they need to make sure that they have stack enough stash of bitcoin in thier portfolio because you can't just invest N500k and start hoping that it will double 100x for you, the stash of bitcoin you have in your portfolio will also determine if your wish will come through or not.

[Powerjumboo]

I am a poor investor who is regularly accumulating Bitcoin to build a house. I live in a rented house. I am living in the city in search of work and have hopes of buying a house. Buying a house in the city requires a lot of money. I am buying Bitcoin every week without depositing fiat to buy a house and I have set the period of this accumulate as 10 years. During this period, I have prepared to hold Bitcoin in any price trend. Because accumulating Bitcoin is better than accumulate fiat.

Don't think it is ridiculous. If a poor person makes the mental preparation to build a house through hard work and remains steadfast in his goal, his expectations will definitely be fulfilled. Increase your skills and try to change your destiny through hard work. Whether you are middle class or lower class, your expectations will be fulfilled.

Do you think I can do it?

I don't see any reason to think your decision is ridiculous. You have made a very good decision. If you can invest continuously in the DCA method, then I think you can build a house according to your mind. If you look closely from the beginning of Bitcoin to now, you can see that Bitcoin is constantly growing and the way Bitcoin's popularity is increasing, it can be thought that Bitcoin will be in a very good position after 10 years. However, my advice to you is that if you go ahead with your Bitcoin, you must be careful because the seed phrase of the wallet in which you hold Bitcoin must be kept very safe so that no third party can access it. You will achieve success only if your investment is safe.

[Cassius55]

I am a poor investor who is regularly accumulating Bitcoin to build a house. I live in a rented house. I am living in the city in search of work and have hopes of buying a house. Buying a house in the city requires a lot of money. I am buying Bitcoin every week without depositing fiat to buy a house and I have set the period of this accumulate as 10 years. During this period, I have prepared to hold Bitcoin in any price trend. Because accumulating Bitcoin is better than accumulate fiat.

Don't think it is ridiculous. If a poor person makes the mental preparation to build a house through hard work and remains steadfast in his goal, his expectations will definitely be fulfilled. Increase your skills and try to change your destiny through hard work. Whether you are middle class or lower class, your expectations will be fulfilled.

Do you think I can do it?

Yes, expecially in this period with low cost of Bitcoin. You can accumulate more and when he took the breakout you can earn a big amount by market, you must prepare your successive phase where you exchange your bitcoin in naira (or your local fiat money) because in my opinion the constructor don't accept bitcoin.

[Crakryptvest]

It's funny how most people sees bitcoin investment, some people seem to have forgotten that there's no guarantee about the outcome of our investment, planning to build house with your bitcoin investment is like making unrealistic expectations because there's no certainty in what you're planning but if it's your personal believe then I will pray it works for you but before one should think about something like this they need to make sure that they have stack enough stash of bitcoin in thier portfolio because you can't just invest N500k and start hoping that it will double 100x for you, the stash of bitcoin you have in your portfolio will also determine if your wish will come through or not.

Is there any harm in trying? Even though there is no guarantee that Bitcoin could perfect such plan for the poor man, it is his decision and his set goal, he might achieve it also we never can tell, I want to understand what you mean by unrealistic expectations, when something is not guaranteed, does it mean that it is unrealistic? This is a two ways thing, it is either it is been achieved or the hope of the person will be dashed, I want us to remember that Bitcoin is a very good asset and a store of value, it has not failed to keep up with it's long-term outcome, a poor cab have such plan, he can start with anything but he must understand that for him to achieve his goal, he has to go more higher in terms of funds that he is using to acumulate his Bitcoin, every goal is achievable it now depends on the person involved.

[xiamin]

I am a poor investor who is regularly accumulating Bitcoin to build a house. I live in a rented house. I am living in the city in search of work and have hopes of buying a house. Buying a house in the city requires a lot of money. I am buying Bitcoin every week without depositing fiat to buy a house and I have set the period of this accumulate as 10 years. During this period, I have prepared to hold Bitcoin in any price trend. Because accumulating Bitcoin is better than accumulate fiat.

Don't think it is ridiculous. If a poor person makes the mental preparation to build a house through hard work and remains steadfast in his goal, his expectations will definitely be fulfilled. Increase your skills and try to change your destiny through hard work. Whether you are middle class or lower class, your expectations will be fulfilled.

Do you think I can do it?

Yes, expecially in this period with low cost of Bitcoin. You can accumulate more and when he took the breakout you can earn a big amount by market, you must prepare your successive phase where you exchange your bitcoin in naira (or your local fiat money) because in my opinion the constructor don't accept bitcoin.

I have continued to buy Bitcoins through DCA regardless of the price trend, whether it is a decrease or an increase. My income limit has not hindered my long term Bitcoin accumulation. DCA for Bitcoin accumulation does not force me to how much Bitcoin or after how long. I allocate most of my discretionary income after getting my salary to Bitcoin accumulation. Another part is the emergency fund, although the amount of my emergency fund is currently at a reasonable level. I can allocate this amount of funds to Bitcoin accumulation and increase the amount of Bitcoin every year.

[Sammysmart001]

I am a poor investor who is regularly accumulating Bitcoin to build a house. I live in a rented house. I am living in the city in search of work and have hopes of buying a house. Buying a house in the city requires a lot of money. I am buying Bitcoin every week without depositing fiat to buy a house and I have set the period of this accumulate as 10 years. During this period, I have prepared to hold Bitcoin in any price trend. Because accumulating Bitcoin is better than accumulate fiat.

Don't think it is ridiculous. If a poor person makes the mental preparation to build a house through hard work and remains steadfast in his goal, his expectations will definitely be fulfilled. Increase your skills and try to change your destiny through hard work. Whether you are middle class or lower class, your expectations will be fulfilled.

Do you think I can do it?

Wow what a great timeframe choosen. Allot of users fail in long run because will try to get rich in 10 month,  but with the help of DCA use in ignoring short term mindset is the best way of how wealth is being buit. Says stacking is far better than saving of fiat that u never can tells his value. Keep up the great dream wish you best of luck.

[Dulen007]

Your plan dey solid no be lie, but I get two things wey I think you need to consider into your 10 years strategy.
First one na Taxes. The moment you convert Bitcoin to fiat in most countries, government dey see am as capital gains and go want take their cut. As as now, Nigeria no get clear crypto tax law right, but by the time your 10 years reach things go don change and maybe such law go dea in existence. Governments around the world dey gradually tighten their grip on crypto. The profit wey you think you go collect fit be smaller than you expect after deductions. Plan for that now, not later.

The Second one dea more interesting and this one is the more interesting aspect you gats consider. will you even need to convert to fiat at all by then? Bitcoin adoption for real estate is already happening in some countries today. From my findings, countries like El Salvador, UAE and some parts of US don already record property transactions settled in Bitcoin. By 2035, this fit be more common than we think. If Nigeria reach that level, then, you fit buy your house directly in Bitcoin and avoid the conversion and tax stress entirely.
So the real question is not just how much Bitcoin you go accumulate. Na how smartly you go exit when the time comes way go determine everything.