If Bitcoin Gives You Financial Freedom,What Should You Be Willing to Give Up for

[Joy- maker]

When talking about financial freedom, why are you talking about bitcoin? Bitcoin is not in the years that it was less than $1 or when the market value is small, bitcoin may not give people the financial freedom that they want. But bitcoin can preserve the value of your money and make it increase also, but make sure that you are into other things and do businesses so you can have financial freedom in your old age.

When you hear people talk about financial freedom and relate it to Bitcoin, I'm sure they are not necessarily saying that Bitcoin alone will make someone financially free.  Bitcoin itself is not automatically financial freedom, but It can contribute to financial freedom, and whether Bitcoin gives you financial freedom depends on how you use it.  The financial freedom Bitcoin can give to anyone, is the control it provides over their money, the freedom to transact anytime, any day without relying on bank, and many more.

[BItcoin Guy@]

It is absolutely not right to decide to invest your wealth in Bitcoin. You will never get your specific planned profit by investing in Bitcoin because Bitcoin is unstable. From my point of view, you can only invest with the money that you can afford to lose, which will not cause you financial disaster, and maintain a specific plan and discipline. Do not get discouraged quickly. Use every opportunity with confidence and wait patiently for Bitcoin ATH, as a result of which you can get all the opportunities that come from Bitcoin. Remember that short-term plans can cause you financial losses by investing in Bitcoin, so it is reasonable to invest with a long-term plan.

When you have understood bitcoin and you know the value of it, and you can afford to lose any money you invest, so I don’t no way you won’t invest in bitcoin when you have Wealth that can make you invest and used that opportunity to invest huge and wait for the perfect time to achieve your goals. They is not any difficulty in bitcoin investment, just make research and know that the price is volatile, you can’t know how the price will be now or future, so we shouldn’t be panicking when things are not going well when you invest in bitcoin, you should just have the believe about what you invest and set your target, and when the market is moving well, you will and get better profit.

[Miles2006]

Op title is actually confusing, “what should you be willing to give up” considering bitcoin investment is all about consistency, fear of missing out is common especially when the market price is not stable though one who understands the market should be able to differentiate between the bear and bull season. Every market season comes with a time frame, the time might last longer than expected reason why many do give up while holding for sometime. Bitcoin investment is a long term investment and needs a long term planning, those with the mindset of earning quick profit will not be able to hold longer time.

[Johnlomape]

Bitcoin can give us freedom, but investing in Bitcoin is not the end all.

Sometimes there will be times when you may feel like giving up if its price falls before you reach your target, but it is better to hold on to Bitcoin in the long run and always give up the desire to make a quick profit from it. Also, avoid FOMO (fear of missing out) – the fear that you are falling behind or missing out when everyone else is buying. Follow your plan.

It is not uncommon for the market to go up and down, so don’t make impulsive decisions and hold on even in difficult market conditions. Don’t deviate from your plan for a long time, as you may not get the opportunity to invest in the future. There is no guarantee that you will be able to invest in the same conditions in the future at the current Bitcoin price.

Those that are investing a penny on Bitcoin are the ones that often complain about the market chart and price.
There are millions that have Bitcoin but never disturbed themselves going to check the price of Bitcoin to know whether they are in profit or loses. Real investors are not interested in what the price of Bitcoin is doing. They are interested in holding for as long as possible without any problem. Those investing $100 or $1000 will want to discuss about their investments everytime when the real investors are not ready to talk about their investments.

[Sammysmart001]

 The financial freedom Bitcoin can give to anyone, is the control it provides over their money, the freedom to transact anytime, any day without relying on bank, and many more.

You just said it all, a lot of people do use to misunderstand what financial freedom is all about, many just think that financial freedom it all about having allot of money to buy luxury things and lot more.
But let me tell you the truth that, witj your billions of dollars in a bank you aren’t truly free. This because your funds can be freeze at any give time. But when it with Bitcoin, it gives you this freedom of full self control and censorship resistance.

But my answer to the main topic on what you have to give up for this.
What you have to give up on is your reliance on third parties, giving up on the luxury of calling a bank customer care to reset your password when mistake is being made, making sure that you take 100 percent part responsibility of your own seed phrase and security. Cause this tge ultimate price of a true financial freedom.

[Mayor of ogba]

Even though we are investing in bitcoin with our discretionary income we must in one way or the other get worried when the price of bitcoin is falling but if we are discipline and have the mindset that bitcoin is volatile in nature and isn't a quick to get rich scheme we will keep on accumulating bitcoin regardless what the price could be and the decline of the market can't influence us to be a paper hand. So anyone who want to reach his or her bitcoin target and hold his or her bitcoin for the long term must fully be discipline and accept that bitcoin isn't a quick to get rich scheme and it's volatile.

[Davidvictorson]

Bitcoin can give us freedom, but investing in Bitcoin is not the end all.

Investing in bitcoin can give you financial freedom, but you have to invest a lot of money so that when the market 2x your profit margin will make sense. See it like buying Dangote shares. Those who bought N5000 worth will make close to nothing compared with those who bought one million naira worth of shares. Both invested but only one will truly experience financial freedom in the end.

[Silverstonez]

Bitcoin can give us freedom, but investing in Bitcoin is not the end all.

People shouldn’t treat bitcoin as the entire answer to their financial problems, they should also venture into other businesses, develop valuable skills and create multiple sources of income. Bitcoin is not a get quick investment, it requires patient, disciplined, proper risk management and a willingness to accept market volatility. And the goal shouldn’t be to invest all the money you have in bitcoin, do the regular DCA instead, or if you want to lump sum invest, do it with the money you won’t be needing anytime soon.

[Gozie51]

It is not uncommon for the market to go up and down, so don’t make impulsive decisions and hold on even in difficult market conditions.  

I know you are trying to encourage people but it is not that easy. Someone who is outside the ring of a boxing match is likely to be directing the inefficiency of the people fighting in the ring. When it comes to investing in volatile market, you have to fathom emotion because it contributes to the decision that the investor will take. So sometimes a trader for example, can get scared on a losing trade and exit the trade whereas the price is just trying to rest on a support or resistance before making another move. Also, you can exit at the right time before your investment starts to dwindle. Therefore, it is not mandatory to stay on a difficult market condition but sometimes it also changes the narrative in a short while if you wait a little more.

[Tmoonz]

Op title is actually confusing, “what should you be willing to give up” considering bitcoin investment is all about consistency, fear of missing out is common especially when the market price is not stable though one who understands the market should be able to differentiate between the bear and bull season. Every market season comes with a time frame, the time might last longer than expected reason why many do give up while holding for sometime. Bitcoin investment is a long term investment and needs a long term planning, those with the mindset of earning quick profit will not be able to hold longer time.

I thought as much too, there is a bit confusion at the title and the other body message but however, Bitcoin giving a financial freedom is only one among the things Bitcoin has given us, if we talk about it as investment opportunity? Then what anyone should be willing to give up is their patient to be able to hold on for the long term because that is the only best way to get the best it can offer, and by so doing you are expected to be mindful of Fud, Fomo,  because the market is volatile where every of your decision should be on the purpose of your long term plan, the moral lesson from those with the mindset of earning quick profit is that they always end up regretting in the future.

[icebar]

It is not uncommon for the market to go up and down, so don’t make impulsive decisions and hold on even in difficult market conditions. Don’t deviate from your plan for a long time, as you may not get the opportunity to invest in the future. There is no guarantee that you will be able to invest in the same conditions in the future at the current Bitcoin price.

Not everyone who knows about Bitcoin can fulfill their expectations by investing in Bitcoin. There are many who have long expectations, but for various reasons, they withdraw from their investment. Some sell Bitcoins before the specified time. Therefore, it must be remembered that Bitcoin is not a get-rich-quick scheme. There is no guarantee of profit if you invest here or a profit if you hold it for a long time. If someone invests and can hold it until an expectation is fulfilled, then it is possible for him to get positive results from Bitcoin.

An investor must invest within his capacity. There are many who try to invest on the advice of others, but later they have to withdraw that Bitcoin investment due to their needs. Investing in such a situation does not produce the results expected.

There are some investors who get very excited when the price increases and get depressed when it decreases. Such investors must control their emotions. They must create a personality that can hold Bitcoin in any situation.

You need to focus on what your main objective is for investing in Bitcoin and plan to hold it for the long term. There are many people who have not been able to fulfill their expectations after investing in Bitcoin, so if you make a good plan and invest accordingly, you will definitely get positive results.

[Karl_3000]

When talking about financial freedom, why are you talking about bitcoin? Bitcoin is not in the years that it was less than $1 or when the market value is small, bitcoin may not give people the financial freedom that they want. But bitcoin can preserve the value of your money and make it increase also, but make sure that you are into other things and do businesses so you can have financial freedom in your old age.

Bitcoin can be considered as something that gives financial freedom to an extent, even though it wouldn’t necessarily makes you very huge returns at this point. Financial freedom isn’t only about having enough money, having control over your money is also a form of financial freedom.

So someone like Dangote that is the wealthiest man in Africa is not having financial freedom because he is using fiat? You can have money in the bank and have financial freedom as long as the money is still yours and not seized by the government.

Financial freedom is more about being capable of financial independence. For bitcoin it is about having huge amount of bitcoin that will not you not depend on anything including business, just your bitcoin will be enough for you to leave a normal good life.

You can hold $1000 in bitcoin in the past and earn $1 million. That is an example of financial freedom.

[Davidloki]

Bitcoin can give us freedom, but investing in Bitcoin is not the end all.

Investing in bitcoin can give you financial freedom, but you have to invest a lot of money so that when the market 2x your profit margin will make sense. See it like buying Dangote shares. Those who bought N5000 worth will make close to nothing compared with those who bought one million naira worth of shares. Both invested but only one will truly experience financial freedom in the end.

This is normal business philosophy, the higher the capital, the more profits would be accumulated. In the case of bitcoin, there are two set of people that would profit massively from any bullish run in the nearest future. The first set of people are early investors in bitcoin who held strong until now, and secondly would be people or companies investing huge capitals as it is sure that even the slightest bullish movement would make massive profits.

[Hypnotizer]

-snip

So someone like Dangote that is the wealthiest man in Africa is not having financial freedom because he is using fiat? You can have money in the bank and have financial freedom as long as the money is still yours and not seized by the government.

No.

That wasn’t my point, having enough wealth to do anything you wish for is the ultimate form of financial freedom but that’s not the only “form” of financial freedom.

Financial freedom is more about being capable of financial independence. For bitcoin it is about having huge amount of bitcoin that will not you not depend on anything including business, just your bitcoin will be enough for you to leave a normal good life.
~

I agree with that, financial freedom is more about having enough to stand independent but having a certain level of sovereignty over your money can also be considered a form of financial freedom depending on the context.

[Nasdel4]

Bitcoin can give us freedom, but investing in Bitcoin is not the end all.

Sometimes there will be times when you may feel like giving up if its price falls before you reach your target, but it is better to hold on to Bitcoin in the long run and always give up the desire to make a quick profit from it. Also, avoid FOMO (fear of missing out) – the fear that you are falling behind or missing out when everyone else is buying. Follow your plan.

It is not uncommon for the market to go up and down, so don’t make impulsive decisions and hold on even in difficult market conditions. Don’t deviate from your plan for a long time, as you may not get the opportunity to invest in the future. There is no guarantee that you will be able to invest in the same conditions in the future at the current Bitcoin price.

Yes bitcoin provides the avenue to attain financial freedom but at a cost which is simply having a good plan from the beginning and sticking to that plan no matter what happens in-between.
It's not just about investing in bitcoin, can you withstand the emotions that comes with the fall in the price of bitcoin when holding?
As we know bitcoin is very volatile and it's not advisable to go into bitcoin for short term goal rather we should look at it as a long term investment. This doesn't mean you should hold your bitcoin forever. A lot of people dive into bitcoin investment without a good plan or strategy which makes them buy high and when the price falls they panic sell which causes them to lose money.
This is the reason why it's advisable to use money that you can afford to lose when investing in bitcoin with the help of a good strategy so when such things like fall in price you won't panic sell because it was probably included in the original plan and not letting your mind fixed for short term gains or just making profit only.

[Crypto_Timothy]

Patience. I think exercising patience is like a small ask even for gaining financial freedom but thats just it when it comes to Bitcoin, there are so many opportunities for you to tap into and if you exercise enough patience, you will be able to tap from them, i think even right now Bitcoin just dropped, so imagine you are the type to panic and you cant exercise patience, you will just think that something is going terribly wrong and rush to sell becuase i know as Bitcoin drop, others too just drops as well, so out of fear im guessing some person might have even already sold and that why you must defined your "why" and try to stick with it till you reach your targets that you set for yourself.

[IceLincoln]

When talking about financial freedom, why are you talking about bitcoin? Bitcoin is not in the years that it was less than $1 or when the market value is small, bitcoin may not give people the financial freedom that they want. But bitcoin can preserve the value of your money and make it increase also, but make sure that you are into other things and do businesses so you can have financial freedom in your old age.

When you hear people talk about financial freedom and relate it to Bitcoin, I'm sure they are not necessarily saying that Bitcoin alone will make someone financially free.  Bitcoin itself is not automatically financial freedom, but It can contribute to financial freedom, and whether Bitcoin gives you financial freedom depends on how you use it.  The financial freedom Bitcoin can give to anyone, is the control it provides over their money, the freedom to transact anytime, any day without relying on bank, and many more.

Yes, Bitcoin is not an automatic pathway to financial freedom but it’s one part of it. The long term approach to bitcoin investment when consistently and properly done will give the investor financial freedom when he’s living off of his investments.
Karl is trying to argue that bitcoin has passed the phase it gives financial freedom and that’s false, problem is what he defines as financial freedom.
Having enough financial resources and control over your money to afford your desired lifestyle without depending on your next income is financial freedom.

[MainIbem]

It is very true that Bitcoin can give financial freedom, but there are things people should give up if they want to be financially free with Bitcoin, things like.
Fear of volatility Bitcoin is a volatile asset and would always fall and rise back based on demand and supply so volatility is not a barrier to being wealthy with it.
Lack of patience It is a long term asset and being wealthy with it require holding for long, which means that you'll need lots of patience for that to be possible.
Lack of conviction People trust Bitcoin based on past history and the believe that it would be more value in future so lack of that believe could trigger fear when market falls.

[gracreavix]

Everything you have listed is something that happens internally, what if externally. There are a quite of things that we sacrifice that is not necessarily within. A lot of outward sacrifices are also carried out. I'll list a few and talk about them.

We have emergency savings: whether we like it or not, there are people who are using their emergency savings to invest as they are no other money elsewhere to invest. We all know that it is not ideal, but this is the sacrifice people do to achieve their goals.

Next is food: there's quite a number of people who cut down the amount of food they eat just to achieve something tangible. Another outward sacrifice.

Another is debt repayment: people who do this a damn big risk takers and the know within them that if this fails, it's game over. But this is such risk people take.

So we all are identifying the internal part of sacrifice and never the outward part. Hope this exposes your eyes to what people sacrifice that is not being talked about.

[Pablo-wood]

Even though we are investing in bitcoin with our discretionary income we must in one way or the other get worried when the price of bitcoin is falling but if we are discipline and have the mindset that bitcoin is volatile in nature and isn't a quick to get rich scheme we will keep on accumulating bitcoin regardless what the price could be and the decline of the market can't influence us to be a paper hand. So anyone who want to reach his or her bitcoin target and hold his or her bitcoin for the long term must fully be discipline and accept that bitcoin isn't a quick to get rich scheme and it's volatile.

Been worried is a normal emotional thing. Discretionary funds isn't free money it was actually worked for so if price fluctuates its normal for us to get worried but our level of discipline should be high enough to subdue the pressure and emotional dramas that comes with it. Discipline is a hard culture to adapt to but it is just the only prerequisite needed to stay productive in the Bitcoin investment journey. As a long term project one has to be extremely disciplined to stay profitable and make reasonable outcome from their investments.