Topic: My Opinion Concerning Holding (Read 399 times)

E get wan talk wey dem dey say na who dey alive dey fit invest, lol, but comot play, na true, if u never fit chop below full finish, you no go fit think of to say you wan com dey invest because na money wey you go wan use chop u go carry go invest den when hunger comes, u go collect your money before the time reach, like dat e no make sense at all.

Me I dey talk am say investment na something wey dem dey plan, no be something u go jump enter, first think of how you go fes get money hold your side, den u fit dey save small small den from your savings you invest, instead of the savings to dey idle, make em dey work for you, dat way now you go know say, you fit dey still see food chop and your investment go dey still grow and na for d right time you go take am.

You actually hit the nail on the head on this very matter we dey discuss my Boss, because na true talk say person wey go invest, eh no need to gather the entire money wey dey the world before him or she go fit execute him plan of little savings, despite any amount wey he may have been earning from his one source of income. As this your talk just remind me of those days at senior secondary school from 2011 to 2013 wey person been dey carry the least #100 to #500 daily dey go break period, of if only by then we been don dey opportuned to this Bitcoin stuff and con dey save small small either #500 weekly in Bitcoin, I bet you that money for don amount to millions of dollars today wey be 13 to 11yrs later. And so can this also be possible if person earning low fit dey afford just only #5000 weekly or monthly into Bitcoin investment, eh go surprise you say in next 10yrs from today that money fit turn to hundreds of thousands of dollars.

Hence, the spirit of money savings is a habit which either comes naturally or learned.

If u want to hold your coins for long term before u can sell to mak money, I guess is very easy, all u need to do is to look for a good Job in d country were u will b receiving salary to invest in bitcoin and hold for years and u will like wat u will b achieving wen d bull season start, and if u have other business is another solution for u to hold your bitcoin for long term before u can sell too, because u will use d business income to sustain till d market price mature for u to trade to mak big income dat will put smile on your face, if truly, u no wat u will achieve from bitcoin investment, I don't think dis hardship will stop u not to hold for long because there are some things u will b doing to mak sure nothing mak u to sell your bitcoin in dis bear season.

I also agree with Brainboss, saving na culture if e nor dey ur body e no dey. No excuse, if you fit save no matter the economy you go stil figure out the least save for yourself. You fit they earn plenty money and nothing to show for it, but person wey dey earn little they save fit do things pass you, na just planing be the thing. Person wey go invest in bitcoin no need plenty money, buy at your level no competition na hodling be the matter can you hodl for long to see plenty profit? Make no body use economy crisis,  na when crisis they people they manage and save well sef, you go they find where you go invest the little you get so u go get plenty for future,  as Brainboss talk na just your mentality really matter.

Well said boss, I agree with what you said but I must say the truth which the present day reality, the current economic situation has made much more impossible for must peope to invest, the cost of living is now triple to the extent that no matter the amount you earn, you may end up using all in buying necessities, some when go to get some stuffs in the market I feel like not buying because if you buy something today and go back to buy the same thing tommorow the price will change, as it stands now many people are seeing feeding as the ulrimate more than investment because most people barely feed twice a day talk more of investing in Bitcoin.
The only set of person that can manage to save little out this 50k that you mentioned are single people that don't have much responsibility even with that it is still very difficult to maintain because monthly or weekly expenses varies.

Any person thats earning from different angle with investment does not understand what sustenance is and such person may regret in the future if he fail to retrace his steps accordingly, as for savings and investment itself, we truly need to accept challenges without any form of murmuring to enables us achieve them.

I no see any lie for wetin you just talk, sometimes no be about numerous income but self discipline na em matter a lot when eh come to holding BTC or to put body for other good investment, eh even get people self wey be say them get better paying job and other business to back up yet them no fit boost of any savings, why because them no dey plan well or sabi spend recklessly.

 @Mr Brainboss, you talk better talk here, no be until person dey very very financially stable na em them suppose learn how to save, even person wey dey earn like 50k fit save 5-10k weekly then survive with like the remaining that one no be lie, but my brother come to think of am, Nigeria done dey hard for average people.

 Not to even talk about poor people, especially those wey done get family, people still dey save no doubt but for the majority, life is becoming hard based on the present economic situation and that 10k wey them go remove from their income use save, go go long way to buy foodstuffs keep use survive, enter market see the price of things you go understand.

I must confess that sustaining an investment in this period is not an easy task at all. With my understanding that humans are very fragile and the fact that if life even tends to happen or life throws a curved ball on us it is tempting to tap into our investment without minding the consequences. However, some people are not willing to tap into their investments no matter the problem at hand. Those are the people I think deserve an accolade.

In my own opinion, I think it is beyond discipline, especially in a very challenging economic situation. I'll say it is the strong belief that has made them not tap into their investment. Without having several sources of income there are people who no matter how low they earn monthly they strive to invest with the amount they have now.

Waiting you they talk make sense wella because some people they always reason Bitcoin investment in different direction because I done see were person way no get anything they go borrow money make him invest for Bitcoin say within one month or four say him go get profits we him go take pay back the loan, I come they laugh because e no really make sense because there is no way person way won hold go expect to get better profit within three to four months.

Well the thing be say e just they unfortunate say some people no they really reason well before they act and when time go reach them go they regret say if them no they for no take some certain actions them do, so waiting you they talk na true because if person get plenty ways way funds they always come out e they make sense more because no how way challenge go affect the person as him they hold Bitcoin.

In my opinion I would say that crypto faces a future with so many unknown outcomes and the prices are volatile,
Therefore risk management should be inculcated. The financial market can be affected by so many factors, it is Wise to always withdraw
60 percent while in profit and you can decide to hold 40 percent.
Always remember that you are not in control of the market, anything can happen at the end of the day

we all know how this our country situation is now someone can't hold with just one source of income anymore, well for me I believe crypto currency came to this world to rescue some people who knows how it's work from the bondage of the economy situation. You know if you have started investing with Bitcoin ever since and you still have it hold for a long-term that means you're really at good with discipline on yourself, because with this current situation and you still have your Bitcoin hold on investment without touching it that means you aren't only depending on it you might have other source of income. That put food on your table cause right now I don't think someone can hold on for long with it to get higher in price anymore.

It's not about having numerous sources of income as for the country self e no get how plenty people go get numerous sources of income as work no dey. Wetin matter na the plans wey you get for yourself because person wey dey see the least go fit still managed him life well and invest in Bitcoin. Investing in Bitcoin could still be considered as another source of income if you reason am well. As you dey plan just know say you no go do pass yourself, if na 50k Naira wey you get, you fit remove 5k use dey do monthly investment inside Bitcoin make you use 45k dey guide. E get people wey get numerous sources yet dem still no fit hodl because dem no get discipline and better planning.

Dem say person wey go sabi save na from him early beginning na when you go know and not when everywhere dun soft for am. If you no fit save when you dey see 50k, you no fit save when you dey see 500k, you go chop am finish. If you like hide the money or lock am for 100years immediately you release am, the money go finish because na so so unney expenses na wetin you go dey get. Hodling become successful when you have the right mentality and patience na one of your attributes.

If you have more money you can invest for long term and if you dey work and the income is not big then you can still invest in seasonal. But this seasonal investment is good for small scale investors. It is a serious calculative investment because you have to invest when the price is low a bit and when it rise above your investment you sell and wait again to invest.

But the best investment is the long term investment because it yield good fruit for the investor. And those who no get the statistics to invest always at the investor's risk. Know the market and enter the market in good time and wait for the time which you have set to sell.

I no think sae, those hodling bitcoin or other altcoins currently get numerous sources of income. Em get people wey get one or two source of income, but them get ways on how them go bring out a little money they can afford to lose to invest in bitcoin or altcoins. Them d do that on how spare money take enter their hand since peso go fit buy bitcoin or altcoins with the little amount they can spare without it affecting their finances.
A know a friend wey d eat 80k as monthly salary. Em d bring out 30k from em salary to invest in altcoins every month. This started last year, em still d invest up this moment, every month. Em no d ready to stop or have a break until the bull run starts.

Waiten you yan na the koko, because bitcoin investment requires alot of techniques and methods in other to make the profits if not you will end up in loses on the long run, it is important also to note that bitcoin investment should be taken as a long term venture in the sense that the money you use to buy bitcoin shouldn't be money that you need very soon, ad it should be money that you can risk to put away for a long period of time without it affecting your financial life.

Although having a multiple sources of income is key to financial freedom because you won't at anytime be stranded for money, because when one sources is not flowing with income,  the other sources will be there to serve as a back up support so you won't have the need to border your investment in bitcoin.

Financial and economic instabilities within your country can deter you holding. So for me, it's most advisable for you to invest an amount you can actually hold for a long time without it looking like you are strangulating yourself.
As an investor that is ready to hold on for a long time, there should be other businesses and incomes that should be coming in to your purse to enable you run your day to day activity without disturbing your investment because the exchange rate on one hand is very unstable, so hence you can strategize yourself on how much you can accumulate on a monthly basis with your several sources of income, maybe using the DCA method, it will somehow help your holdings.
So I agree with you when you talked about Nigerians are still holding despite the unfavorable economic conditions majority are facing.

Holding get plenty benefits ooo, but e no really easy to hold with the way things be for dis country now, just imagine say person buy coin leave am for wallet for years, e just be like say person put money for one place come leave am for there. People wey never hold before go Dey reason say nothing Dey make person hold coin, but na people wey don try am before go know say e no easy. If you can have patience and you can hold, then you will never regret holding as long as you are holding bitcoin or some strong altcoins which.

If no be say person get better work wey Dey pay well, you go find am difficult to hold ooo, because e no go possible say you never chop, and you get coin for wallet Dey hold, if hunger hold d person well, him go swap am, but if you have a good source of income, and you are disciplined, then you will be able to hold.

Yes, you are not wrong my friend, as it's actually true that the people who are known to hold their Bitcoin for long term without touching are those likely to have additional one or more streams of income, who due to the extra money he or she is earning, is likely to leave his Bitcoin been held for long.

Yes, you may be putting your money at risk when invest in other cryptocurrencies, if not Bitcoin which has got more potential for the future, unlike most altcoins memes coin which usually pump within it's first 2yrs, and as time goes on keep dumping little by little.

This is not a form of whatever discipline or not when na wetin dey important be to have that money to buy the coin and as you talk na the matter be that because person never chop finish e go dey feed dog... So people go eat first before them good invest and hodl crypto. But we still need to also modify our source of income if God help. If you dey into plenty job and e no still pay you enough money to get extra to invest then you go know say you just dey play.

The economy is bad but people are still making it in the society and some poor people are becoming rich because they were opportune. No matter the hardship some people will still be successful in whatever they are doing because of proper plan and focus to achieve success.

Buying bitcoin is not for someone who is trying to survive and his income is not enough to take care of his monthly expenses such people cannot invest in bitcoin. Omo no go dull yourself o.... Poor man no go fit invest and na so bitcoin investment be if you no get what it takes to invest and hodli, u no go fit buy talk more of to hodli. This na e make you need to double your hustle by learning skill if you no get any to help you get more source of income so that you go fit buy bitcoin and hodli without shaking.

For you to be a holder, you should have enough money, becos you cannot be holding and dying of hunger, but wen you get a lot of source of income you can be holding some, I no say for dis economic wey we dey now for Nigeria, every where dey hot, nd e no go dey easy to be a holder we just have to try our best becos if you hold some bitcoin, it go come dey useful to you some time. I no say income wey we dey get now no dey reach to spend, for dis hard enonomy wey we dey.

The situation of dis our country don dey get out of hand, every single day, make una be sensitive enough to hold some bitcoin, if you get am enough money.

Well said Dr, but I put it to you that the challenges of an average salary earner have doubled more than it's previous state, due to the current economic situation, have you gone to the market to see the price of foodstuffs or toiletries or even your deodorants? You should know that times are getting harder and that's a big challenge for most people holding currently.

 I think your statement would mostly imply to wealthy people that are earning seven figures and above monthly, or single people or those without kids or much family that's earning such figure you mentioned, someone paying rent with a family of about four or five, paying school fees and other utility bills could find it a little difficult holding for a very long-term and would definitely give up at some point.

 Talking about Charles-Tim's statement that their are rich people still holding, yes that statement is right, but how many are they currently compared to the middle class or poor people trying to survive at this current economic state, I'm never against holding and I'll keep encouraging those that are capable of doing so, but people are hungry and currently what an average Nigerian is thinking of is survival.

Op is right and you are also right, the whole thought about this comments is based on your assumptions but the both of you are right. However what matters mostly is the amount you earn as a salary, wether it's monthly or weekly it doesn't matter how you earn it, the important part is how much you earn. Some reasons why people don't like depending on 1 job is because in life anything can happen and to be on a safer side it's important to have more than one job. And the other reason why some people put their hands in other business to earn a living is because the only one that they have is not giving them the amount of money that they want, so they discide to create other opportunities for more money to come. Having a single job that pays well is not bad, and there are other people that have 3 to 4 businesses that doesn't pay them up to #500,000k per month. So the amount one is receiving is more important than how many jobs they have. Having more jobs increase stress but only a single job that pays well gives the employer time to rest or time to do other important things.

One concept about holding is it may not really matter on how much one puts into purchasing at the moment but how consistent the investors is to accumulate a good portion. From tiny holding to large portion of Bitcoin, with small units of currency invested into ones portfolio to a greater figure of accumulation.

The economy is bad, hard and unfavorable to the average earner and worst for those lesser than just average. Investment on Bitcoin is not based on wanting to always be part of it but we invest also because we want and also have as little resources we find convenient to invest with. Holding Bitcoin doesn't necessarily mean having more source of income, a person might be a large business owner or getting paid wholesomely after working month and his salary is good enough to fit in every wants and needs then it wouldn't affect his chances of investing in Bitcoin. It is either get a well paid job, become a business owner or establish multiple sources of income.

It might not matter that much how many sources of income an holder has, it just depends on your income level and how much you spend on your personal stuffs before receiving another money in a cycle you’ve been placed on to be receiving salary. It is indeed true that this economy situation of the country can make one without another source of dependency want to touch their savings, but if you’ve planned well and also able to deal with upcoming obstacles, you won’t feel the needs to touch your bitcoin and will just adjust to the current situation of the country’s economy.

If I’m able to hold through this period and the economy becomes better, if my source of income have reduced later and my expenses is still the way it is, it will only make me to adjust to the current state and not going to my bitcoin hodling to continue living the lifestyle I was when my pay was higher. It all depends on planning and how you wish to execute your plan of hodling bitcoin for a very long time before selling them when your profit target has reached.

You mean having numerous sources of income? It's not about having numerous sources of income, but having a consistent and sustainable source of income. A Bitcoin investor doesn't need numerous or multiple streams of income before they can hold their Bitcoin for a long time. Even if you only have one or two sources of income, you can still hold your bitcoin for a long time, as long as your other source of income is paying off regularly. 

For example, if an employee who is earning about $150–$200 monthly decides to invest $50 every month after they receive their salary, the person can hold their bitcoin for a long duration as long as their job continues.I am not saying it's bad to have multiple streams of income. You can have multiple income sources, but with only one or two of them, you can hold your coins for a long time. 

Of course the economy is so bad that people don't longer care much about investing but now basically thinking of surviver.

Having multiple streams of income is good for investment purposes but one must remember that it's not possible to break out with multiple streams of income, you only need on skill or job to make it out then diversify your result into other areas where the investment can yield more.

but if you want to do all at the same time it becomes hard for you and profit may not be guaranteed, so if you wish to get a good result stick to one and make more money from that one then invest in another area which you are convinced in.

Considering the current state of our economy, anyone who's still holding has gone above the middle class and is comfortably earning way more than what is required for an average family to take care of his/her needs. A regular 9 AM to 4 PM salary earner is even struggling to feed himself in naira and converting the small 90k most people earn to dollars makes it very unrealistic to even buy bitcoin if you're an average Nigerian salary earner.

Most HODLers are either earning in one way or the other through the crypto space or are already established in a business or have a strong source of income they can comfortably take out a portion of their earnings from and still survive comfortably.

E reach to share you opinion concerning this hodling matter based on all of us reality for the country.

The way way I take see am be same, people dey hold according to their ability. And the "fear" of say if you nor invest for bitcoin you dey wrong nor dey worry people again. Why e go worry dem when then first tin wey dey everybody mind na how to take survive. And for am na spare money wey people dey keep for bitcoin unless say your core business revolve around tech, finance, cryptocurrency, and ICT.

Well said mate, in real sense, holding of Bitcoin is a decision that requires high level of discipline as been said by you, this is why for me I constantly say that it is better for an investors to invest what they can sustain for a long run without any form of interuption, you must not hold in a large sum, you hold as your income permits, you dont hold $4 when your earmings is $5, if you do this, you will end half way unless you get additional source in the process, life is plan, although we all know the evonomic reality facing the present nigeria states but i can still tell you that people still hold their Bitcoin but it is with good plan.

Op I want you to understand that what makes you a successful holdler is your ability to apply your strategy in other to remain relevant in the system, as an investor you must know that circumstances must occur and you must be prepared to tackle them at all time, investors with one source of income should invest with what they can spare so that holding wont be a difficult task for them to achieve irrespective of unexpected occurrence.
I agree with you that few people are holding in Nigeria right now but people with good orientation can still hold if they understand the concept and the path of holding.

I have continued to tell people that having multiple sources of income is not a prove of financial solvency even though it could help. The target of many people is to have multiple streams of income, the reason most do not pay attention to getting one reliable source of income or that one product that can make them rich. If you observe a trend in Nigeria, anything that is trending, many people will rush into it... take your mind to when opening betting shop was trending, now POS is trending as well as selling something on whatsap and other social media, they will also trend and go and many people will just remain within one level because of jumping around from one thing to the other thinking they want to create multiple streams of income.

You are right and I'm not saying that multiple sources of income is bad, my point is that many people are so focused on that and forget the need to be loyal and committed to something worthwhile. Some go into bad investment and end up being scammed because they want to create multiple sources of income. I have seen people doing well in their shops but because they think they want to diversify, they invested a large chunk of their capital in ponzi scheme when it was raining. This killed many businesses I know which were doing very well.

Normally Nigeria economy is getting worse each day, but I believe that despite being in such economy alot of Nigerians are still holding base on the knowledge they have concerning this space, because most of us in this space are already aware of the bullrun season, and we just experience bitcoin halving months back. And we are still waiting for the main bullrun, and before any bullrun occurs base on history bitcoin do experience alot of up and down movement before the main surging.

But the only thing the economy can literally affect is the rate of ones accumulation, let me say a guy who normally accumulate $100 monthly, but due to are tough economy has turn out to be lately he decided to reduce his accumulation rate to the range of $50-$30 , so his Stashes rate of increasing will also reduce inorder for him to take care of some financial situation and to keep up with his normal daily activities.

My brother, wetin you dy talk na true, no be lie, to hold no dy easy as e dy sound, but as an individual wey oil dy head, we surpose think out of the box and look for a way to make am easy, so in this present economy, having more than one source of income na very good thing, but just as oga Charles don point out already, some people one source of income better pass most people wey get up to five source of income, so wetin I dy try talk is that, in other to hold effectively, e dy good to get a reliable and a good paying source of income, so that you fit get and emergency fund join, because if ur source of income no dy ok, you no go fit get emergency fund.

Secondly, when you dy talk of holding, e for dy very good of you, make you dy specific, make we know say na Bitcoin you dy talk about, because most alt coin and shit coin no dy worth holding, them fit make all ur holding effort be in vain, because holding shit coin just be like gambling, e get like 90% chances of failing and 10%  chance of succeeding, so try to dy specific, because newbies full here, make them no think say na every coin Dem dy hold in this crypto space we find ourselves.

It is not about how many sources of income that you have. It is about having more than enough money or earning more than enough money.

Example is if someone have three jobs but you earn ₦50000 in the first, ₦80000 in the second and ₦30000 in the third monthly. That is ₦160000 earned in total every month. How about someone that is earning ₦500000 from a single job.

Although, it is good to diversify because if one job disappoint, you can earn money from the other one.

Rich people do not feel the situation and many of them are holding bitcoin. Even those that felt it still invested.

 Holding any Cryptocurrency, mostly Bitcoin is one of the investment plan one could create for themselve, especially those that are holding for a long-term, I believe those that held during the bear market till the past halving would understand my point and enjoyed the benefits that comes with Holding, I must commend them cause it's not an easy task and comes with discipline.
 
 Infact I consider anyone holding in this current economic situation as a very disciplined person, I think they must have other sources of income before embarking on such journey if not I wonder how any Nigerian would be able to hold for long in this present situation of the country with just one source of income, if there's anyone here then I must commend you for your discipline,  cause on a normal Nigeria would humble you and you'll be forced to sell.

 With that being said I think and I've concluded that those holding currently must have numerous sources of income to do so, I might be wrong though. Well, people might say one is putting their future at risk if they don't invest by holding Cryptocurrency but then people with one source of income would be putting themselves at risk of holding if they don't eat, lol. it's easier to preach about holding but with the current economic situation of Nigeria not much people are holding.