Topic: Easy to say but hard to make it real in the future. (Read 497 times)

Holding coin isn't that easy and it's somehow challenging in this country especially with the present situation of this country. Almost everyone is with one or two financial issue to solve. Even the movement of the market sometimes can prompt you to sell. Imagine when you buy at $40k and the price move to $65k after some months, in the next month you now experience a dip to around $38k. If one doesn't have strong determination, he/she may sell out with any next move above his/her purchased price especially when he/she has a financial issue to solve. He/she says to himself/herself "let me sell at this price and will rebuy at dip anytime it goes down beyond this price" But this doesn't work out this way in most cases. Things one needs to overcome this is:

1. Strong self determination: This is the greatest key here. If you are determined then you will never think of your coin as an alternative to solve any problem.
2. Avoid holding your potential coin in an exchange: Holding in an exchange is more like a temptation to sell. I could remember lately when I need some fund to solve an issue. I decided to sell part of my BTC but the high charging fee to transfer to exchange discouraged me. So I look for the money in an alternative way. Exchange enable you to sell your coin easily within a few minute.
3. Avoid checking your wallet everyday: Checking wallet everytime or everyday will make you put mind that you have money somewhere. Treat your potential coin like a fixed deposit in bank. Since you set a target already, just forget you don't have assess to it until the fixed time.

This is what I do to avoid selling my potential coin and I believe this should help you out as well. Learn to keep your BTC today as most potential holders of BTC often make more profit.

Lolz many people have made that promise but at the end they sell it off and use the money to settle some cases. Oh yes as you said, E dey easy to talk am but to keep di promise nai be the wahala e dey ground so..and no be only you dey experience am. Many. Me wey I tok say I no go touch my coins for a vet long time, omen I no know when I touched am and now di coins dem e don dey matiate go down. But the goal you set sef e big oh. For bitcoin go reach $100k no be here oh. Though we dey close now but e still far small.

That is the best decision considering the situation at the moment because you cannot be investing and continue to sleep with hunger. But the greatest mistake that the OP made was to make a proper preparation before embarking on the journey of long-term investment. If he/she has another source of income, he/she will definitely profit and achieve his aim now that bitcoin is 69k to 70k. That is why the best way to do long-term investing is to keep a good strategy. 

But it is based on economics that he/she will be encouraged to continue borrowing the money as long as the money he/she will be borrowing does not exceed the limit. It will be the best since he has already put it as his project, so the main focus is not the borrowing of the money but achieving the aim, and if we go with that, then he/she will definitely achieve that aim. Buy now because the rate of bitcoin is high. That is the power of hard work and the power of money. 

I wonder why someone will not make a proper preparation for funds to use and sustain other needs of life while they are holding and it is very bad to have money stocked in an investment and suffering even to the extent of borrowing money, though it takes determination and resilience to hodl when you don't have much money or a reliable source of income that is why it is advisable for anyone that wants to hold their Bitcoin for a long term to have proper source of cash in-flow so that they don't tamper with their holdings. Imagine selling at that price of $25k and now that the price is around $69k the difference is very clear. So since we are aware that more profits can be achieved in the long run it is better to have a steady source of income before hodling.

You dey right,na him make so many persons dey avoid to invest,rather,dem dey do another thing wey no be Investment.Na true say everybody dey like talk say once him invest,him money go come in the nearest future,but when e go reach that time,the coin fit end up dissappointing which sometimes,e fit cause mental breakdown to you if you no strong.The only people wey fit deal with this investment thing na people wey don zero their mind say anything wey wan happen,make e happen go fit make investments,and sleep well,rather,na wetin go make sleep comot for your eye for midnights.I dey cut cap for people wey dey trade,and dey make regular profit because I know say e no easy atall.

Op, I don't know how much you invested, as that will determined how much profit you will make, just like you said you invested when Bitcoin was $20k and as of the time you posted this thread Bitcoin was $25k to me it's a great profit if you have invested with good amount of money. However, sometimes you must not wait for 7 or 10 years before you will pull out your money, you have an issue fine, that issue you have is it that pressing, is it worth it these are the question you need to ask yourself because if it's not worth I will advice you leave your investment to keep growing unless say you be this type of people wey there body dey tortori them when dey see profit for their investment. You asking for advice on how to hold your coin for long period of time this one na something wey you suppose teach yourself no be to go ask people.

Op our decision on selling our coins for family issues was really a nice one because na person wey dey alive na him go fit do Bitcoin investment because you can't hold Bitcoin while your house is on fire because the main reason why will dey always do investment is for betterment of the future and for us to be alive and look at after our investment our health is more important than our investment because once you no take good care of yourself and at end something happen you will see that people will laugh at you.

Op wetin you do dey right,I no fit get moni con go borrow moni,things are not done that way.The thing be say if u wan go into any investment bitcoin to be precise,first make sure you dey financial stable or even if you no dey financial make sure you dey receive cash flow from other source of income in order not to intrude your investment goals.Those people wey dey hold for 5-6 years they were prepared.But since you say you make profit of $25k it's okay because the sole aim of every investment na to make more profits.

Op for me investing and holding is very good mostly when one has a target but the target should not override your life and good health because is only who is alive that will enjoy investment. From your challenges once life has gotten to the stage of begging before you eat it's no longer encouraging, though one must pass through pains to achieve in life but since the investment has yielded some profit it's most preferable to sell parts and use it strategically on something that can be of daily sustainable income and plan to buy back when at dip from the one you sell it will give you what to take and encouraging your next investment to the targeted period of time.

Bitcoin have failed to meet up the total all round analysis of pro traders in the market. We have been doing exceptionally well in the system, understands how to comprehend the system and making good streams for profit flowing in and out. You can be patient but at the same time, thoroughly monitored yours Stop Loss because it's one of the options that most traders prevent from happening. This will results in  portfolio liquidation and it will rule out the top goals.

It's a good thing you even have an investment to look forward to, but am sure that it's because your mind is there, that's why your family issues are compounding, so much so that you can just take the easy way out, and that's to withdraw or cash out your investment prematurely inorder to meet these needs.
Am quite certain that when you do infact withdraw the investment you have kept for long now, it would be hard to do it again.

The best advice is to find a source of income that can meet your needs for now so you don't dip your hands into the funds, you can also decide to withdraw some of it, not all, to solve the most important needs. In addition, diversifying your portfolio to trade shitcoins could help secure profits immediately, that's if you do know how to trade or have great friends or a good broker who is a professional in this regard.

You are lucky to have an investment that you will use to solve your challenges. I cannot encourage you to borrow or beg when you have the means to address the situation yourself, borrowing or begging will be embarrassing. I understand your worried is to meet up with your target, your goal is to achieve $100k so that you can make a lot of profits before you start releasing your bitcoin.
Since you already know that begging or borrowing will disappoint you, so I think the $5k you made isn't a bad profit. Instead, sell it and start making plans for the future. DCA strategy will cover you to meet up again.

However, make sure you have a backup source of income so that you won't have to rely on your Bitcoin investment in the event of problems because long-term investors typically make more profits than short-term ones.
If you are investing, you have to take your eyes off of it and prevent anything that may distract you during the process, such as borrowing money to invest and always invest what you can afford to lose.
Investors who have been holding bitcoin for more than a year also have challenges to deal with, just like you do. However, from what I've observed, most investors look for ways to make money so they can use it to handle problems as they come up, without having to touch their bitcoin investment, which is how you make it to last for a long time investment.

Na true talk u talk so, na person wey dey alive dey think about tomorrow, just as u talk, e get as problem go hit person, person no go get choice than to use e life savings carry solve that problem if not person fit die because of the problem and make we no dey use big eye dey kill ourselves because say things no dey go as we plan, forgetting say everything wey dey happen for life na God permission, if e no permit, our effort na e vain, so mk we dey do things dey also get alternative incase one disappoint, although e dey easy to say something and e also dey easy to make am mk e happen but na just because say we no dey control of ourselves, something's wey we dey talk and e dey happen just like that, na just because say e dey online with God own, na e mk we dey always pray mk e will be done in our life, so make we plan today and leave tomorrow mk tomorrow plan itself.

Getting familiar to what you are investing on should be the first thing an investor should do. Crypto generally isn't for the children and the lazy type. Although it may be a way for one to make it in life if done right. At the same time it may lead to the opposite side. How you want crypto to work for you depend on your attitude towards it. Investing in crypto because you hear people investing in it isn't a right decision. Your knowledge about it should come first and will help you alot in achieving success.

Wetin u talk na true, na just the best option, because Bitcoin no be wetin person fit predict, but before person go say e won become investor mk e first know the risks about the stuff because it requires a lot of patience and e dey very good to control ur emotions should incase person encounter lost and also to know the timing that is time wey u fit withdraw or invest because person fit comot,  wen the coin still rise or vice versa etc. so e dey very essential to know about BTC first.

It's really possible my guy say people dey hodl their BTC for that long, because it's not compulsory say person gats to own a whole full 1 BTC, before it could be regarded as such, because even if na mBTC (i.e 0.001BTC), and you can hodl it for 4 to 5 years, it's still something

I don't think there is any statistics to show how long a BTC have been hodl before releasing back to the market, but even if it's still 0.1% of the total Bitcoin in circulation, then that means it's still something.

Yes, na true talk you just talk so my guy, because one thing I always believe be say as long as there is life, there is hope, and for that reason, for the fact that you want to make millions from next bull run don't mean you should ignore solving pressing issues affecting you and your family,  as there is always an opportunity for those who don't give up in this life.

@Gozie51, no talk ooo, as e be so, e get plenty investors way done hold their coins for that long, although I never see, some investors done hold their coins until then get watin them want before them sell, abi you never see some people way if them they serious for something nothing go stop them until them achieve their goal?
Well, everybody no be the say, no mean say wating you no fit do, another person no go fit do am also, although, the economy they very hard but some people way they do better jobs and them they receive N900,000 to million naira every month, those set of people fit hold their coins for long because their own problems no be wating them go chop or clothes way them go buy.
Some of this common men, the things way they make them to sell their coins nah food to chop and shelter no they, but if them get better job all those things no go be their problems and them go fit hold their coins for long period of time, hope say you get my point?

How are we sure say some people dey hodl their btc for that long? Even if there people who hodl that long, na how many percent of people? Moreover no be individuals wey still dey find wetin dem go eat dey try that. Most hodlers for that long na institutions, big boys like Elon musk dem and that level of people wey no need money for anything but you wey need money, abeg sell your coins take solve your problem except no be pressing need after all you buy am for profit and if you don already make profit den you no dey lose . However, na bull run dey come so, e depends on your neeed.

Na who there alive dey there keep coin's, and they said a man proposed but God disposed, so you too don't aspect that the problems will come on top of your head right now, and since problems have come and you don't have any alternative to solve the issues, it is for you to take what you have, because no one can hide the food in the present of hunger. Since you bort Bitcoin at a rate of $20k, and now Bitcoin is currently trading at $27k, at least you make a profit.

Bitcoin price is not permanent and e dey go up dey come down so wetin I wan make una understand for the price of bitcoin is that the price of bitcoin dey falls when investors no come in for the matter, op if you wan keep your bitcoin make the thing increase the wey you want is okay, but the thing is that some people wey dey keep their coin dey make better profit in time coming but some people no dey talk am out when dey make profit for long stay of holding coin until bull market meet am