Topic: NECESSITY TO LOWER EXPECTATIONS ON BITCOIN INVESTMENT. (Read 174 times)

Brother, the truth of the matter be say most of us Nigerians believe say anybody wey dy invest in Bitcoin get money, because person wey dy struggle to chop no get business with Bitcoin investment, so once them here say you be Bitcoin investor, them just believe say you be millionaire, but them no know say e no dy like that.

Na that same mindset most of this newbies especially dy use enter into the field, them believe say since Bitcoin na mostly business of the rich, them think say na Bitcoin nai make them rich overnight, which is not true, and na because of too much expectation dy make people get really disappointed when them no see the kind result wey them expect when them invest in it, so in essence of wetin I dy talk is that, just as the op of this thread don talk already, too much expectation on Bitcoin investment no good, e no go fit eradicate poverty from ur life completely, something wey government no fit comot for we country, make we no expect Bitcoin to remove overnight.

We like am or not most of us wey de into bitcoin today were introduced into it by somebody, I said most don't get me wrong. So this problem they actually come when person wey introduced you no really get much knowledge about the bitcoin itself or maybe him no take him time explain am for you well. Them get plenty boys for my side wey been they see me come de ask am which update I de use, I tell dem say I no dey run yahoo oo Na bitcoin I de into dem go come be like bro abeg try put me through na, so watin I de mostly do I go just find a lesser free day then I go tell dem make dem come so if dem come I go explain bitcoin for them, telling them how bitcoin investment be like, the bull run and the bear run, when you are mostly likely to invest, how bitcoin requires alot of patience and above all I de take am out of their mind say bitcoin na so kind so get quick money kind of thing.

After all this explanation few of them dey really give bitcoin a try while most go just tell me say boss me wey they find quick money, make I just go de bomb. But imagine say I no really explain am give them like this, dem go put their money and when market come de fall they go begin see me as bad Pasin. So when you de try introduce anybody into bitcoin try explain am for them well so they should actually know what to expect once they invest.

normally na this kind of mentality every Bitcoin investor suppose get when go help am fit HODL for the long term. The same way if you de save your money for banks, you no de really de bothered about getting quick interest, na the same way e suppose be as you de hold bitcoin. We all know say e de profitable to HODL Bitcoin but for you to fit keep your Bitcoin for the long term make you no touch am hand, e suppose make sense say you just comot eye for where you Bitcoin de, and only buy more make the Bitcoin portfolio de increase. Good thing be say if you de hold your Bitcoin, e de more deficult to easily sell am than say make you spend your fiat so HODling for the long term no suppose be serious issues and you no go de stress yourself de expect immediate profit over a short period of time.
somehow, the hype when people de hype Bitcoin reach to make some people to invest too much inside Bitcoin but regardless of the hype and the prospect of Bitcoin, safety and caution while investing is very important. Invest as much as you fit buy but no go do the one when be say once the market dip, your mind go begin de shake you because the amount you put into your Bitcoin investment de too big. More investment amount plays a greater role in determining your profitability but still, ensure to invest what you can afford to lose.

The most important aspect of investing in bitcoin is to develop the right mindset and approach as soon as this is done, everything other thing will align. The right mindset is that you must think long term, at least 4-10 years, a figure I saw in the speculation board suggested by one of the experienced and reputable member of this forum in the person of @JayJuanGee. In my response to another forum member and in agreement with the suggestions/recommendations of JJG, when you think, a lot of the problems people face in bitcoin investment will be fixed already. The greater part of the task is planning your finances so that you would be able to invest funds you set aside for that number of years without being under any form of pressure to sell the coins.

To achieve this, you could adopt the DCA method of buying bitcoin that allow you buy gradually but regular with amount that is considered small for you and will not affect your finances so much. Another things that can also be done is to always plan your finances in a way that while you are buying bitcoin, you will also keep some funds as emergency funds after covering your basic needs. This funds, as the name implies, will cover any urgent needs that came under emergency during the period of investment. The emergency funds should be your last line of defense and should only be touched for the purpose it was created.

High expectations from your Bitcoin investment shouldn't be the main focus, I'm fact you don't expect anything from Bitcoin, although the chances of it phasing out of very slim.

 What is needed is a proper engagement in Bitcoin. Bitcoin is a store of value and a hedge against inflation and fiat devaluation. It's important funds are raised for emergency and kept aside for prompt response to unforseen circumstances, then you can go ahead to utilize your discretionary income(remainder after your regular expenses and savings for emergency otherwise called spare cash) to purchase Bitcoin. You also need to know how to keep your private keys and seed phrases safe offline to secure your wallet from major attacks that can deprive you of your funds. Be sure to practice decentralization too

The are at least three ways of Bitcoin accumulation namely

• Lump sum
• Buying the dip
• DCA strategy

If you're an average Joe, I recommend you use DCA method to purchase Bitcoin at intervals maybe weekly, monthly or any other defined periods with commitment and target accumulation quantity. You would keep increasing your portfolio in order to get good gains at the long run. Accurate Bitcoin engagement patterns is the supposed concern because Bitcoin has proven track record of being profitable on long term investments of at least 4 to 10 years or more.

Whoever is investing in bitcoin should see bitcoin as a bank that you are saving little by little for it to accumulate into something big in future. We all know that it is when you know the important of what you want to achieve that will make you know that it is worth saving for. Use only the money that you will not need for long so that it will enable you to hodli for long.

Don't say because you are investing in bitcoin, you should put all your hope that is what you will use to change your life but see it as an investment that you can do without so that you will have other options of generating income. Profits should not be your priority when investing but how to increase and buy more bitcoin should be your target.

What i mostly understand here is desperateness to make profits from bitcoin and if all these are eliminated you would see that it could be very hard for someone to be thinking or having this mentality that bitcoin is a quick get rich scheme which I don't encourage any one to think so.

Bitcoin is not a fast growing money were they would sink a specific amount and having that mindset of receiving back in folds, if they are so careless and reckless in a way that they fell into scam then it's their fault because bitcoin as I know is not invested in such place rather one can buy bitcoin through exchange or trusted p2p provider here to hold in their wallet and not in any platform.

There have been several news of bitcoin scam and many more which they aren't supposed to fall victim to any because it has been widely been preached about security aspect of investment and to avoid such investment or anyone who promised to get 100 percent of their investment is to be avoided because no one gives back 100 percent investment within 24hr of their investment.

The advice will always remain that people need to be sensitized on what bitcoin stands for and how the bitcoin system works generally. I still wonder the kind of laziness some people go around with wanting to make big money with little or no efforts in the learning process. As a bitcoin investor, you will need to learn how the market operates in favor of your investments and how you can earn money from your investments when investing.

Being it a short term investment or a long term one, one must learn about the risks involved in investing and high volatility and price fluctuations over short period of time. The person also needs basic understanding of Bitcoin investment approaches such as the DCA approach and the Lump Sum. He also needs to know that Bitcoin is not a get rich quick scheme as many newbies have taken it to be.

Yes, it's true that before investing in Bitcoin, it's good for newbies to have a brief knowledge about how it works and operate, knowing fully well it's not a "Get rich quick scheme" which was the major reasons why many people fell into scam back in those days when it's not got very popular. However, there are three simple rules about having success in Bitcoin investment, and they are;
First; Grab the basic knowledge about Bitcoin, how it works and (Price movement & volatile nature).
Second; Invest an amount you can always afford to lose, don't go and borrow money to invest in Bitcoin, with the intention you will generate 2x or 10x within a certain period of time.
Thirdly; Strive to hold on to your coin for long term (HODL).

Your right. The reason why people have so much expectation is that they dont know how Bitcoin works.

They are filled with the delusion on the fact that if anyone invests in Bitcoin they will be rich. If you check online, there are fake video resources, and people who are influencing Bitcoin to be the cryptocurrency that will turn one from poor to rich but they dont say the truth that one has to learn about Bitcoin. It's so annoying how they will preach the good news and dont share the rules, technical know-how, dos and dont of Bitcoin. While it's so annoying people just want to hear what they want to hear. They want to hear the easy part and forget about the difficult part.

The easy part is 'Invest your little money' while the hard part is 'learn about Bitcoin'.

Normally who understand bitcoin investment go know say na gradual process, make we understand wetin be bitcoin first but I no think say people wey Dey lose no know about the knowledge rather na quick profit. Nothing bad for person to find profit definitely na why people dey invest, it’s becoming obvious na why the scam practice dey grow when them find out say something get popularity like bitcoin the center of attraction naso all alternative go come to scam people collect their coins. Wetin op talk na true, excess bitcoin expectation fit bring unnecessary mindset meanwhile bitcoin market no dey like other crypto market, bitcoin investment wey dey lead to discouragement and lose dey very rare and na people wey no understand go fall.

Any oldie knows that the best way to earn from cryptocurrency in general is to trade, HODLing for long term. This is a fact because as Bitcoin stands as the first and foremost crypto to have gained success and have opened the way for other cryptos, the best way to earn from it, remains to hold long term. 

Am sure that by now you should know that the expectation on such an investment in Bitcoin for long term is going to be possible.

It's not about lowering your expectations but knowing how Bitcoin works and fitting your investment goals to it. If you're expecting Bitcoin to all of a sudden bring you out of poverty just because you invested a small amount into Bitcoin, your expectations will certainly be cut short and you're bound to sell your Bitcoin in loss.

Viewing Bitcoin investment as a long-term investment is the best way that will not allow you to be too expectant  of how much profit you will gain from your Bitcoin. Volatility is a constant and as an investor, you have a very minimal role to play as long as what's going to be the price of Bitcoin in the short run. It's only short minded people that want Bitcoin to get to an outrageous amount because of what they expect to get out of their investments. If you're a long term investor you will be very relaxed regardless of the momentary volatility that might take place

It's not good to lower expectations, and it's not appropriate to have too many expectations. Before an investor invests in Bitcoin, it is important to know that Bitcoin is like a two-sided coin. It goes up and it goes down. If one expects to get rich just immediately he investing in Bitcoin then he is confusing it with gambling. Bitcoin is not bound by luck, there are disciplines to be applied before one can be successful in the investment. Strategy, consistency, limiting unnecessary spending, and so many others. If these things are not put into concentration there will be hindrances to investment.

This discussion touched me most time I do hear some people who condemned Bitcoin after fallen victim of scam deem it necessary to bring this kind of information here.

Today new investor and adopters of Bitcoin and crypto with less knowledge on the ecosystem whose expectations is very high get stock along the road after investing that leads to:
1. Disappointment
2. Anger
3. Discouragement
4. Frustrations and many more to mention which has course many misinformation to others investors or newbies who interest is to invest in Bitcoin.

It's advisable to first lower expectations while seeking to invest in Bitcoin with this first principle knowledge of Bitcoin not a quick to get rich scheme because misconception of many viewing Bitcoin as quick to get rich has caused them a victim of scammers as they think the system can double their investment overnight.
Bitcoin yield interest on investment made but not as fast as many expect, it required patients and long term holding, it's note worthy that to strife on Bitcoin investment an investor need have other sources of income and seek to diversify where necessary which will eliminate rush to sell off it's asset or been decieve by any who claim to double it's investment within a short time period, as long term holding is the code of succeeding and making any high expectations comes through. Any whose seek to invest in Bitcoin need first seek good knowledge to scale through as enhanced knowledge and idea make everything easy on Bitcoin investment.