Buy bitcoin to build wealth, not To Escape Poverty.

[Queen uloma]

To build wealth you need a plan but desperation can make people abandon their plan.
I think bitcoin should be something that you accumulate according to your financial status, not something that you must depend on to solve all your financial problems that comes up. If you have a low income, you can start with a small amount that you don’t need in your daily spending. You don’t need to compete with people that buys with a big amount and you don’t also need to borrow money just because you want to increase your bitcoin holdings.

Another thing people need to understand is that bitcoin I doesn’t guarantee profit within any particular period. Even if you believe in bitcoin long term potential, the market can experience serious price declines, and nobody will tell you exactly when the next increase will happen. This is why financial preparation matters.  Having emergency savings and taking care of your basic needs shouldn’t become less important just because you want to accumulate more Bitcoin.

Personally for me, the goal is not to use bitcoin to escape poverty overnight, but to use  knowledge, patience and financial discipline to build wealth over time. Bitcoin may be part of that journey but it doesn’t replace the need to improve your income, make sensible financial decisions and develop useful skills.
I also believe that we need to change the way we discuss bitcoin with beginners. Instead of making people believe that buying bitcoin is their ticket to become rich, we should help them understand what  bitcoin is,  why people value it, the risks involved and how to approach it without putting their financial stability at risk.
 
In all, what’s the benefit of accumulating bitcoin if the process makes you unable to afford your basic needs today?

[Bitcoin-Forever]

Invest in Bitcoin to accumulate wealth and be out of poverty; there is nothing bad about it when you also have the added advantage of being out of poverty as a result of your investment in Bitcoin.

One of the opportunities that we stand to achieve with Bitcoin adoption is financial freedom, which can give us open opportunities to diverse Bitcoin benefits if invested. If you have a change in status, using Bitcoin is not bad because it is intended to give everyone full control over their finances, and we can choose to start small, and it can turn into a bigger achievement later in life.

[promise444c5]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

[Shadiq]

While it is not possible to get rich overnight from Bitcoin, the purpose of long-term Bitcoin investment is to find financial stability or build your own wealth. You will get returns based on how long you keep it and how much Bitcoin you save. Of course, you cannot dream of investing $100 and becoming rich overnight or even in the long term. It may be wrong to use the example of 2009-2011 now, because it is no longer possible to make a lot of money by buying and holding $100 Bitcoin.

The purposes of Bitcoin investment at present may be wealth accumulation, taking a position against inflation, privacy and self-custody of assets, reducing dependence and finally making profits. If you only aim for profits, Bitcoin may not satisfy you, Bitcoin may not be able to give high profits now.

[Asiska02]

Personally for me, the goal is not to use bitcoin to escape poverty overnight, but to use  knowledge, patience and financial discipline to build wealth over time. Bitcoin may be part of that journey but it doesn’t replace the need to improve your income, make sensible financial decisions and develop useful skills.
I also believe that we need to change the way we discuss bitcoin with beginners. Instead of making people believe that buying bitcoin is their ticket to become rich, we should help them understand what  bitcoin is,  why people value it, the risks involved and how to approach it without putting their financial stability at risk.
 
In all, what’s the benefit of accumulating bitcoin if the process makes you unable to afford your basic needs today?

I seriously think that only those that don’t have knowledge of the market will be in such a situation that their investment in bitcoin will limit them from having the access to basic needs. If such is the case for all investors, then people would not have built wealth through bitcoin. Building wealth overtime requires a lot of discipline and this involves reinvesting again even from the profit you make from the investment, that’s the only way to build wealth overtime.

The knowledge shared with beginners are very paramount to their success journey in Bitcoin, if they are able to value and work on that knowledge, they won’t make mistakes that will push for them being in a state of financial instability. The goal of bitcoin is to be an alternative to fiat but its benefits go more way beyond that and requires knowledge of privacy and security in order to prevail here. Risk management, patient and discipline are all parts of what makes the journey successful in the long run.

[Antidote47k]

The main goal of bitcoin is a decentralized currency which people will complete control over their assets without worrying about regulations and restrictions from banks and governments, the other aspects are extra benefits derived from this sole purpose, once you understand this, you’ll stop treating Bitcoin as a poverty alleviation scheme and more of a long term investment, holding it can give you upsides when it appreciates but that shouldn’t prevent the need to earn enough to meet your current expenses.

It’s an investment, treat it as such! Slowly accumulate your portfolio with you can be able to afford without straining your finances too much

[AVE5]

To build wealth you need a plan but desperation can make people abandon their plan.
I think bitcoin should be something that you accumulate according to your financial status, not something that you must depend on to solve all your financial problems that comes up. If you have a low income, you can start with a small amount that you don’t need in your daily spending. You don’t need to compete with people that buys with a big amount and you don’t also need to borrow money just because you want to increase your bitcoin holdings.

Interestingly, there's no single amount that's not valuable that could be that worthless that's not needed in the days we need to buy the bitcoin.
The Tips is to buy with funds that we're not willing to spend within the short term and more likely that you're holding it for retirement backup plans.
Anyone who has also thought you must have an equal taxes incomes as those already invested in the bitcoin is being misled. Those who remains ignorance to that same orientation have no necessary excuse to why they're not buying the bitcoin yet.
I agree that there're also sarcastic people like that.
With a minimum that you can afford even in the Satoshi fractions, you can as well buy, keep accumulating and hodls.

[SuperBitMan]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

Well, building wealth and escaping poverty are actually related but they are not the same thing, escaping poverty is about trying so hard just to be able to meet your basic needs while building wealth is about creating assets, financial freedom, and something that can actually last for generations.

I think the real question should be, are you investing in bitcoin just for survival or to have the freedom to live life on your own terms?

Some people are struggling and investing just for survival while others are doing it to build something that will last for generations.

[MainIbem]

Building wealth is a process and on the long run, someone that's poor can actually escape poverty with it (Bitcoin) cause it has a potential of giving financial freedom in future but i understand that your point is comversing those who're impatient and want to escape poverty quickly with it. Well some can be lucky when they try that through trading but it's very risky and not advisable cause one can be unlucky and lose more than they intended to gain. Wealth through Bitcoin belongs to those who are patient to hold it longer.

[Queen uloma]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

Building wealth and escaping poverty are not the same thing. Someone may become poor because of desperation, and even go into risky investment just to escape poverty so fast fast. But when you talk about building wealth are focusing on long term growth, you may even end up creating good opportunities and financial stability for yourself.  Our aim is not just to stop being poor but to build something that will last.

[promise444c5]

Building wealth and escaping poverty are not the same thing. Someone may become poor because of desperation, and even go into risky investment just to escape poverty so fast fast.

Not sure I really get this but from the way I understand it,  you’re trying to equate someone risking  a short term investment on Bitcoin as trying to escape poverty.. right? If that’s you meant to, then that doesn’t mean they escaped poverty even though they tried. Even if it worked out, that doesn’t mean they already escape poverty.

Besides, this  shouldn’t be  a Bitcoin investment thing.. Whatever you’re doing, if you don’t make plans to sustain your  future as well, you haven’t escaped poverty, you’re just putting it on delay instead . If you did the right thing, that doesn’t mean you have escaped either. That’s just a thing about life, it can’t be fair to everyone but you can always strive to make it fair..

[Pablo-wood]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

Building wealth and escaping poverty are not the same thing. Someone may become poor because of desperation, and even go into risky investment just to escape poverty so fast fast. But when you talk about building wealth are focusing on long term growth, you may even end up creating good opportunities and financial stability for yourself.  Our aim is not just to stop being poor but to build something that will last.

I will like to understand the aim of creating wealth. I thought we build portfolios and create wealth with the aim of escaping poverty in the long run. People who engage in investments that has no root do so also to escape poverty. In fact  the bottom line of everything we do is centered around building wealth so we can escape poverty. People also get poor even after investing in good and profitable investments and what triggers that in most cases is impatience and greed. Financial stability is simply escaping poverty.

[Son Of Blockchain (SOB)]

Not sure I really get this but from the way I understand it,  you’re trying to equate someone risking  a short term investment on Bitcoin as trying to escape poverty.. right? If that’s you meant to, then that doesn’t mean they escaped poverty even though they tried. Even if it worked out, that doesn’t mean they already escape poverty.

Besides, this  shouldn’t be  a Bitcoin investment thing.. Whatever you’re doing, if you don’t make plans to sustain your  future as well, you haven’t escaped poverty, you’re just putting it on delay instead . If you did the right thing, that doesn’t mean you have escaped either. That’s just a thing about life, it can’t be fair to everyone but you can always strive to make it fair..

True because they can end up losing it while trying to sustain the wealth true trading. It's possible to make wealth through trading although the chances are low due to how risky it is but sustaining it through that means is the biggest risk cause if one isn't care they could go from hero to zero financially.
 It takes a wise person to lucky make wealth through trading and put a huge percent of the money the gained into Bitcoin for preservation, Bitcoin is the one of the best form of preserving wealth and can only be done through long term holding.

[Bright0515]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

Actually they are not, when we talk about building wealth it has to do with having an asset that you can always get income from and when you focus on building wealth you are looking way above things that are average. Escaping poverty has to do with surviving, being able to afford feeding and other basic things, this isn't wealth it's just survival. How long can you continue being in survival mode when you can actually build wealth through this means. Escaping poverty seems too basic for those investing in Bitcoin for a long Term.

[Smartvirus]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

Being rich isn’t the same as being wealthy but, escaping poverty can truly mean either of the two so, you’re not out of place on this.

However, you don’t buy Bitcoin for either. How you wan con Dey make am naw? How many you wan buy and how long you wan Dey wait for the returns to enrich you or make you wealthy.

Person way invest huge already show say, you no really being Dey struggle with poverty. Your #5k worth of Bitcoin today fit still no climb reach #40k in 4years.
If you carry that same money, put for better business and manage am well, you go still make pass #40k in a year.

Watin I Dey try talk,
As person way no guide, you no really fit invest any better money for Bitcoin via say you no get enough to help you get high ROI.

[Livingleged]

To build wealth you need a plan but desperation can make people abandon their plan.
I think bitcoin should be something that you accumulate according to your financial status, not something that you must depend on to solve all your financial problems that comes up. If you have a low income, you can start with a small amount that you don’t need in your daily spending. You don’t need to compete with people that buys with a big amount and you don’t also need to borrow money just because you want to increase your bitcoin holdings.

The best way to approach bitcoin accumulation is by identifying your discretionary funds and only use that in building your portfolio. That way you don’t have to worry about panic sell because discretionary funds is actually what you have left after you’ve settled your basic expenses from your cashflow either monthly or year depending on how your income is coming.

Another thing people need to understand is that bitcoin I doesn’t guarantee profit within any particular period. Even if you believe in bitcoin long term potential, the market can experience serious price declines, and nobody will tell you exactly when the next increase will happen. This is why financial preparation matters.  Having emergency savings and taking care of your basic needs shouldn’t become less important just because you want to accumulate more Bitcoin.

Just likes I've said in replying the first paragraphs if you’re using your discretionary funds for the investment you shouldn’t have any issue because most of your basic need are already settled and what is left is what you call discretionary funds. However bitcoin investment isn’t a guaranteed that it must bring profit, but based on history and chart bitcoin has rewarded long term holder so I still think it’s safe to hold for long and hope to get rewarded even though the reward might not be like the way it was for the earlier investors because the volatility has now reduced significantly.

Personally for me, the goal is not to use bitcoin to escape poverty overnight, but to use  knowledge, patience and financial discipline to build wealth over time. Bitcoin may be part of that journey but it doesn’t replace the need to improve your income, make sensible financial decisions and develop useful skills.
I also believe that we need to change the way we discuss bitcoin with beginners. Instead of making people believe that buying bitcoin is their ticket to become rich, we should help them understand what  bitcoin is,  why people value it, the risks involved and how to approach it without putting their financial stability at risk.

It’s different for me though, I’m actually using bitcoin to preserve wealth and that can be said as fighting inflation which also escaping poverty for me. I’ve seen many people become wealthy just by investing into bitcoin and I hope it won’t be different for me too.
 

In all, what’s the benefit of accumulating bitcoin if the process makes you unable to afford your basic needs today?

Who ever does this will end up selling premature and probably run at loss because you have to afford your need first before thinking about any form of investment and not just bitcoin alone if not the investment will collapse.

[God Tim]

‎agree with your point because Bitcoin accumulation requires patience and financial ‎If I may agree with some of your points just because Bitcoin has so much accumulation that is needed to patients and more of financial discipline.
‎Many people are always interested in investment to make their income in their competing with others. Bitcoin is not just a little way to get Rich in fast periods of time it takes to understand the risks and the many basic needs of it such as emergency ways or saving and also financial stability should always come first.
‎Building wealth is a great idea or journey and we just need to be patient and sacrifice a lot for tomorrow's possibilities.

[kingstep]

Personally for me, the goal is not to use bitcoin to escape poverty overnight, but to use  knowledge, patience and financial discipline to build wealth over time. Bitcoin may be part of that journey but it doesn’t replace the need to improve your income, make sensible financial decisions and develop useful skills.

The emphasis should be on the overnight because that is the only difference here. if you are talking about wealth, 90% of bitcoin investor are trying to build wealth through it because that in addition to it decentralized nature is what makes bitcoin unique among other asset. Another thing is that the long term relevance of bitcoin is subject to how you choose to make use of it in the short run which means that, if you get your investment decision wrong in the short term, your long term outcome will also be wrong.

The process and approach of acquiring wealth might not be the same for everyone but the end is that an investor grows from poverty to being wealthy. no poor person is ever comfortable with being poor.

[Ashawowo(OS)]

It’s same thing Building wealth == escaping poverty  or what exactly are you building the wealth for?

Building wealth is for financial freedom, escaping poverty is being able to afford basic needs comfortably as well as attend to emergencies.

When we talk about wealth building, we talk about building financial structures that can make you rich and powerful, someone still trying to escape poverty cannot have the resources to build wealth, building wealth is for the future, escaping poverty is for the present.

Bitcoin is a long-term investment plan, we get into it to have a chance to secure our financial future, those still struggling with poverty might not even have the discretionary income to invest, not to mention being able to hold for long to reap the benefits after many years.

[Different patterns]

To build wealth you need a plan but desperation can make people abandon their plan.
I think bitcoin should be something that you accumulate according to your financial status, not something that you must depend on to solve all your financial problems that comes up. If you have a low income, you can start with a small amount that you don’t need in your daily spending. You don’t need to compete with people that buys with a big amount and you don’t also need to borrow money just because you want to increase your bitcoin holdings.

I often view it that investor should always have good mindset and also good financial plan just as having the intention to build wealth. At times when someone see how fast some people build their bitcoin position, they begin to think that maybe they are not doing enough, they start pressure themselves to accumulate more bitcoin to build same position others. when everyone financial situation are different. accumulate bitcoin as others that your financial situation is not allow, that kind make someone to abandon is plan and put their finance at risk. I think we should accumulate bitcoin based on what we can afford and stop comparison with people that have more then us, there’s no point that investor can accumulate large amount and later suffer to meet up with basic needs. The best approach is to build a better bitcoin position without creating unnecessary problems for yourself.