Engage in hodling Bitcoin more in economic crisis

[letteredhub]

In today's economic conditions it should be that bitcoin is among our first investment options and not a last resort after all other options would have failed and significant funds lost to bad investment. Bitcoin is an asset which in my opinion is conducive for the young generation who still are agile in age with energy to work hard and accumulate as much bitcoin as they can within a long term frame so they can retire early, at most in their late 40s with a comfortable level of financial freedom.

You seem to be proclaiming that bitcoin as some kind of guaranteed path to financial freedom. And perhaps you’re being too optimistic by expecting young people to work hard and accumulate plenty bitcoin only for them to then retire in their 40’s. So tell me what would they be doing then after they retire huh?, perhaps they might even start to depend on their stash to survive and this can lead to reducing their stash and jeopardizing all their efforts to stack it up in the first place.
Certainly bitcoin has shown great performances in the past but that is not a guarantee that it will continue to perform well all the time or at the time a person chose to retire from their job.

Does being optimistic describes that a thing is guaranteed? Because last time I checked no body puts their funds into what they ain't optimistic about getting some returns. You and seen bitcoin create some financial elevations for people who has patiently invested and hodl it strategically for long term... Does it requires any form of GUARANTEE to be optimistic about then?

When you reach mature accumulation stage with your bitcoin investment, no one would tell you, you would just know and also know when to retire from much hardworking and let your investment work for you.
When you invest a good portion of your resource in the right financial asset as a young person you're bound not to work till your old age as some persons who never invested their hard earned funds into some attested asset would continue working even in their late 60's.

[Itz-prisigold]

Something that I have actually noticed about economic crisis is that it actually reveals the big difference between spending and also prioritizing, during hard times a lot of people only put their focus on necessary needs and trust me that is really understandable,  but totally abandoning long term financial goals can actually make the future more difficult.

If a person want to hold Bitcoin during difficult periods,  it doesn't necessarily mean that you have to be investing large amounts. So even a small and consistent buying of Bitcoin can really help to build a good position overtime.  Additionally, this kind of approach helps maintain financial discipline since it involves investing a part of earnings even with the rising expenses.

The most important thing on Bitcoin accumulation is to just maintain the habit.  Someone who has been buying Bitcoin in small quantities at a time of difficulty could find himself in a better position when the economy does eventually improve.

[riscohen4]

It is easier said than done. When bills pile up, when responsibilities becomes too much. Someone will not even think about investment because all that will eat up the resources. I won't honestly blame anybody if all these happens and he or she don't have spare change to invest. But for the sake of your future, you can cut back on some expenses so you can have a better tomorrow.

Inflation on the other hand can still somehow force people edge against inflation using Bitcoin. But the problem is people wait until they have a perfect income before they actually start investing. Rather small amount of Bitcoin being accumulated over time help you to have much of Bitcoin at the end, using DCA method.

It's advisable for one not to spend all money just on bills. No matter how small or little, keep for investing. Overall, discipline can help with this and it matters when it comes to income. Because you can have a sizable income and still be spending recklessly.

The solution DCA method does is that it eliminates the need to rush and buy Bitcoin when all you have been doing is acquiring Bitcoin during hard and easy times. With that, you build disciple over time that helps you financially.

[PremiumcryptoHub]

Economic crises is not just the only reason people should invest in bitcoin. Bitcoin is an inflation resistant asset and it has been proving to be a store of value. You are correct by saying it is also a hedge against inflation but there is more to holding it. I wonder why people are not making use of their naira but leave it in bank without using it to invest on an asset like bitcoin.

Economic crisis is not the only reason why people should invest in Bitcoin, we may know about the economic situation of our country so if we can invest in Bitcoin with awareness then maybe it will become an alternative currency for everyone because Bitcoin acts as a hedge against inflation. Like you, I'm also surprised that there are still some people in this country who instead of using Naira to buy Bitcoin, leave that money in the bank, as a result of which the value of the Naira they have saved in the bank for inflation is gradually decreasing but if they had bought Bitcoin with that money, their wealth would have increased over time because this electronic currency is a modern store of value. So I think those who are used to risky investments and have a long-term mindset should see BTC as a store of value instead of saving naira.

[Abu-Naim]

When you reach mature accumulation stage with your bitcoin investment, no one would tell you, you would just know and also know when to retire from much hardworking and let your investment work for you.
When you invest a good portion of your resource in the right financial asset as a young person you're bound not to work till your old age as some persons who never invested their hard earned funds into some attested asset would continue working even in their late 60's.

Exactly, if you have good investment plan, you are automatically preparing yourself towards financial freedom at your old age, you don’t need to worry about your old age anymore because you have put things in place that will help you survive the old days when your power is not there anymore, and that’s a good reason to have solid Bitcoin in your portfolio, so that you can be free from inflation, third party, and also any financial institutions that will affect your investment, you will have till assurance in your investment and will have full assess to your Bitcoin anytime you wanted, so there is guarantee if you will hold for long.

[Showlove01]

People think of investing in a time when there is a steady, good increase in income because in a time like this, it is easy to invest and also to make expenses on demands. Investing is not supposed to be when one has only a good amount of income. Investing should be done in difficult times too. Many people use inflation as an excuse to explain why they are not investing, but economic challenges like inflation should be a valid reason why people need to take Bitcoin hodling seriousy. In inflation, you can't depend on fiat because it can't provide the kind of value one needs, but investing in Bitcoin has the potential to bring good value in the future. The reason why during inflation is not a time to relax from investing is that when one invests, you are making a good plan for the future; but if you wait to get a good income, there is a possibility that you will not invest.

Naturally it is more convenient and interesting to invest in something when someone has the money or when someone is financially stable because it will help you invest at or with ease and yet it doesn't also mean it is the only time we should invest in Bitcoin or other good assets. We can actually invest at anytime we have something we can afford to lose that  is whenever we have a discrestionary income and it is not also necessary that we must invest in Bitcoin when there is economic crisis, remember in economic crisis some folks find it so difficult to feed and you can not expect this kind of folk to invest the little he or she has in Bitcoin as that will be gambling because they will definitely touch it in less than no time.

[Versatile_choice]

Economic crises is not just the only reason people should invest in bitcoin. Bitcoin is an inflation resistant asset and it has been proving to be a store of value. You are correct by saying it is also a hedge against inflation but there is more to holding it. I wonder why people are not making use of their naira but leave it in bank without using it to invest on an asset like bitcoin.

From my investigation, I find out that some people doesn't know anything about inflation that is why they decide to hold back thier money in the traditional bank comfortably. And one of the things that is giving them the courage to keep saving is because even if they hold it in the traditional bank for years they will still have their money complete but they fail to understand that the value will no longer be the same as it was years back. However, I think it's our duty to explain to them about inflation. How it has been eating thier money because it's obvious they need help.

[Doan9269]

Investing should be done in difficult times too.

Not everyone can find it easy to adapt when they are interested to invest in difficult times and go don't afford doing so because of the the demands ahead of them, it do happen as well that some would have invested before this same emergency needs arises and they couldn't afford to continue with their investment and to sell out their bitcoin to meetup their needs, but today, things are quite changing and there are lots of opportunity, whereby we can avoid selling our assets in order to meet up with this needs or still afford to take way some other possible option and still achieve our goal of investing, this can be made applicable to anyone, be it miner or an individual investor, as long as we can all have access to liquidity, achieve our goal and still remain an investor.

[Grace333]

Economic crises is not just the only reason people should invest in bitcoin. Bitcoin is an inflation resistant asset and it has been proving to be a store of value. You are correct by saying it is also a hedge against inflation but there is more to holding it. I wonder why people are not making use of their naira but leave it in bank without using it to invest on an asset like bitcoin.

From my investigation, I find out that some people doesn't know anything about inflation that is why they decide to hold back thier money in the traditional bank comfortably. And one of the things that is giving them the courage to keep saving is because even if they hold it in the traditional bank for years they will still have their money complete but they fail to understand that the value will no longer be the same as it was years back. However, I think it's our duty to explain to them about inflation. How it has been eating thier money because it's obvious they need help.

Sure I can agree with you on that, ignorance is a huge part of reason why most people haven't shifted their interest in saving fiat currency instead of holding bitcoin. Though this is not applicable to those who would want to make use of their money in the next 3, 6 months. The bitcoin accumulation journey itself is supposed to be for long term since that's when we can get the best out of our bitcoin investment, yet people aren't aware that inflation is the cause of the devalue of their fiat and bitcoin is immune to that.

[Achalugo BTC]

Sure I can agree with you on that, ignorance is a huge part of reason why most people haven't shifted their interest in saving fiat currency instead of holding bitcoin. Though this is not applicable to those who would want to make use of their money in the next 3, 6 months. The bitcoin accumulation journey itself is supposed to be for long term since that's when we can get the best out of our bitcoin investment, yet people aren't aware that inflation is the cause of the devalue of their fiat and bitcoin is immune to that.

Most people are into Bitcoin investment for only short-term, most of them thinks short-term is the best because they lack the knowledge about how the market works and some of the apply the wrong tool to it, that is why they are being ignorant in doing the right thing and also making the right decision  and this actually leads them to panic, especially if the market dips. That is why before one can decides to invest in Bitcoin, they should acquire the basic knowledge and understanding of the market to support in making informed decisions.

[Somto9Light]

Naturally it is more convenient and interesting to invest in something when someone has the money or when someone is financially stable because it will help you invest at or with ease and yet it doesn't also mean it is the only time we should invest in Bitcoin or other good assets. We can actually invest at anytime we have something we can afford to lose that  is whenever we have a discrestionary income and it is not also necessary that we must invest in Bitcoin when there is economic crisis, remember in economic crisis some folks find it so difficult to feed and you can not expect this kind of folk to invest the little he or she has in Bitcoin as that will be gambling because they will definitely touch it in less than no time.

People don't want to know or hear thst, yes, you are right. It is very important and necessary that one needs to have discretionary income, so that while they are investing in Bitcoin for long-term purposes, they won't have to depend on their investment only, as they can settle other things with their discretionary funds, so that they actually achieve their goals, also investing in Bitcoin enquires one to be disciplined and more patience, as they don't have to go against the rules.