Topic: Patience is not enough for hodling Bitcoin (Read 522 times)

There are only few people who are capable of going hungry and still hold on to their bitcoins, i also don’t support the idea of investing and not having a stable source of income because it will only make your investment more difficult. Going hungry and having your wallet loaded with assets just because say you wan invest na act of stupidity for my side, person no suppose suffer because say you invest na why many people de advise make person get good paying job before thinking of investing so you go fit easily carry eye comot for the investment but if you no get work na so so eye you go de put for your investment and with every little dip or little problem you go wan touch your investment.

It is recommended that you maintain a cash emergency fund to keep bitcoin holdings safe for the long term. You need to ensure that the emergency fund can cover the daily expenses of the family for 3-6 months. Having an emergency fund can help you in the future when you lose your job or have a cash supply due to a serious illness. There is no need to withdraw your investment in the middle of the situation. I think it's very important to have a patience in bitcoin investment because holding without patience can be difficult.

Not having a stable income or steady cash flow could make you make some regrettable decisions when you are into all sort of investment, Not just bitcoin alone, but most investment require patience and more patience before it yield. So before deciding to get into bitcoin investment or even other investments and you don’t have a steady paying job or income I will advise as you to hold first.  so as you are saving up for the investment you should also save up for emergency or miscellaneous spending so at least you no go de tempted to sell you investment when you de problem.

We know say patience na de key factor to every good investment but then you need something wey go keep your patience going. Having money for investment is never enough, reading and making research is not enough, but you see that steady income na that one be Koko. Sometimes when you get steady cash flow and  you no make research before you invest fit de profitable but even with your knowledge and research you fit end up running at loss when you no get that steady cash flow.

Who get steady cash flow and no too get knowledge about bitcoin get higher chances of thriving for bitcoin investment pass who make proper research and no get that steady cash flow because who get that constant cash flow fit decide to leave em investment till he yield even if e go reach years but who no get that constant moeny fit end up selling him investment once him enter one kind problem or once hunger hold am him fit decide to sell even at a loss. So try get that constant flow of money before investing.

That is why is advisable to have other sources of income before going to long term hodling, and it will allow you to achieve your goal because you will be using other sources to sustain yourself before the bull run will occur for you to make profit.

But there are some Nigeria people who are still saving money to buy BTC when the price dump from the market, and they are ready to exercise patience until the bull run occur before they can sell to make a good profits.

The steps is to do everything possible to hodl long before you can sell your coins, which is the best step that will make you progress in BTC investment because some people are still finding it difficult to hodl their BTC for long before they can sell, which is the reason they are earning little profits from their hodling.

Before hand we are always advised to have a good cash flow and an emergency funds that could last for at least 3-6 months but here in our country it's not too applicable as most of us do not follow the pattern introduced by these people here. But certainly it's the best thing one can do, you can not say you are a long term holder when you don't have anything doing with your life as it's paramount for your well being and a healthy investment.

Most people do not really care about themselves, so doing the right thing is not always there problem until there is a real problem then they will start looking for solution hence selling their assets my be the next option.

You have valid points here because some people don't put having a steady inflow into consideration because that is the only way to back up your long term investment plan so if there is no steady flow of income you can be tempted to touch your holdings even when you have a long term targets because in some situations you can't bear to see that you have Bitcoins in your portfolio and deny yourself some certain things just because you want your investment to bear much fruits in the future. Having a regular source of income is the only way to be patient enough while waiting for your investments to mature in the long run.

When sighted, we should always targets the very best entries and be patient enough for these entries to come. Bitcoin will become stable and profiting for those traders that have set in good entries on the market. Bitcoin will become one of the promising project but we should also take our time to analyzed the market inother to avoid losses that will liquidate our trading accounts. OP is right, every trader and investors in the market ought to be patient enough because there's more to add to the list.

You are right OP I don't think it will be possible to be patient in Bitcoin investment without having a reserve fund or another source of income, Incase there is any emergency or unforseen circumstances arises you won't reason of selling out your holding or temper with your hodling we could easily take from your reserve fund and settle your present need. For Bitcoin investment is profitable when sighted for long term.

Just having money is really not enough, but having a flowing source of income. At this point it would be good to mention that keeping a salary job might be a source of income flow, as well as doing a profitable business that has survived and is thriving in this economic times.

Discipline is also an accomplice in HODLing BTC as much as patience is, because when one has a flowing source of income and can afford some major expenses, the thought of investing or holding BTC might be just a dream that is unrealistic.
Hence, why one shouldn't wait till there's a flowing source of income before they start investing in BTC to trade or hold.

I agree with what you saying.when involving in holds of cryptocurrency you need to have other sources of income to be able to balance up your life and running of day to day activities as man.so you need to cautious about investing in holding of coins when you don?t have a good a source of income.because that will just lead to waisted efforts if we don?t plan well towards it.because everything is about calculation and common sense.

Yeah. You can’t have money and still be hungry, so many people, especially how the country is currently going, even if someone has the money to invest in it, he will rather use the money and eat food because bitcoin investment is not for everyone. Seriously, some people have the ability to even take the risk, but funds to invest in bitcoin are not there, and while some people have it, taking the risk is a problem. So what I can say to all investors and people who are planning to invest is to well plan everything and strategize so that after investment there will not be a problem of finances because the market is very volatile and can change at any moment.

patience is part of it because not everyone can hold money for a long so it takes a lot of commitment to hold money. and immediately you start investing there should be limitation for any kind of spending. and you have to have prepared your self mentally before starting, so that you do not drain emotionally if the price is going down or even worst. and there are and that faith have to be strong because you not really what will happen next while gambling.


if I should invest and there is an emergency and I don't think I will keep it I will rather solve my needs and continue with my investment because there times that you will be in serious need. and that is all part of the bitcoin is an investment and also a problem solver because we all know that times are hard so lets be sincere who will have money and still the same time have an emergency and will not want to sell just because you want to make sure you don't touch your emergency. the things mentioned are very important to succeed in bitcoin especially income.

Sir I would even say an amount of comfort is needed, cause you are investing in bitcoin what if an emergency occurs and the cash at hand is not enough to do it and its of high importance, won't you sell that you retirement plan and solve a major problem first. I'm not saying that average perosns can't invest oh, what I'm saying is that comfort is also important. And how do you have this comfort as an average investor, is to build up emergency funds, cause one thing wey dey disturb plan na unforseen  events, so if your already prepared for things like this, the n your bitcoin holdings are 50% safe, the  we can add other things like discipline, income raise and all others

Keeping Bitcoin needs more than simply being patient; it also involves making the unwavering decision to stick onto your investment in spite of changes in the market or other influences. It's about maintaining a long-term investment perspective while withstanding volatility and resisting the need to make snap judgements. holding therefore denotes tenacity, resolve, and faith in the long-term potential worth of Bitcoin.

First thing wey we need to consider before we enter this holding of Bitcoin journey naim be to get work first. You need to get source of income so that you no go invest for this week make hunger come let you sell you coin next week. Many newbie they experience this thing because their pocket no reach the zeal wey Dem get to invest for Bitcoin after Dem don gather enough knowledge about am. so even if na hand work we good make person for learn so that e go fit dey get small small thing for inside to take invest for Bitcoin. As e stands I get 2 handwork and I dey use dey hold body small small come still dey do DCA.

It depends on an individual income, though I see income as a distraction or limitation on the part of investing in bitcoin, no matter the amount you earn monthly there is still an offer for you in bitcoin, you chose the strategy that goes with your income, no doubt emergency fund is good, a little saving is excellent too, but this things should not stop you from investing, once you invest what you need to do is, improve in your earnings because this will help you not to think of withdrawing your investment, investment in real sense should not be done when you are in your comfortable zone, investment is initiated when you have the opportunity and the fund to do so.

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In deed patient they said is a virtue but has rudiments for it's accomplishment in the journey of Bitcoin holding, many has gotten into Bitcoin investment without having some vital basic comprehension of what they are getting  in to. Individually cash flow is an important factor to be considered before considering Bitcoin investment, Bitcoin investment is not a quick get rich investment but a future investment that tend to leave a generational wealth to those who understands it's significant and accord by it.
Any one venturing in to Bitcoin investment should have divers means of income and a better strategies of utilizing it, the budgets should  be analyse properly in other to avoid selling off your investment without reaching your espected end. Instead of selling think of other means  of increasing your income flow like a second job to enable you hodl. Really happy for the knowledge sharing in this forum.

Op you are 100% correct no amount of patience wey person fit hodl bitcoin wey the source of income no fit meet the needs of the person.For this Naija wey we dey so e dey very difficult for bitcoin investors to hodl bitcoin for a long period of time,nai be say the person no get needs to meet up.Patience fit dey oh to hodl bitcoin but na for people wey their source of income fit meet up their basic needs.

The number one reason why pesin no go first be a long time holder of Bitcoin na if you dey jobless. Not working or not having a business that can be generating a source or multiple streams of income, go make your effort to hold bitcoin dey very difficult. You no go dey hold bitcoin while hunger go want kill you lol, you'll forced to sell and feed yourself. De exception na if you be one of those bitcoin OGs, wey stack up Bitcoin very early. Even if you no work or setup any business, you are made for life.

Investment suppose be wetin you go do for future use no be something wey you go so based on say you wan use am now now or small time after you invest am, e suppose be say you go invest am then after like months or years you go go back to check your investment, if e don come out better money then u fit withdraw am make you use am do anything wey you want do, no be money wey you put tomorrow you go com wan take am tomorrow. Na why e dey dey important say make you dey hustle, you no fit just carry all your bind put for investment, when investment money never come you go need to dey take care of yourself till the investment money mature.

Throughout the period wey the investment dey mature you go fit dey sustain on your work wey you dey hustle normally until the time wey you want collect your investment and that na the best style be dat. No depend on your investment to get your daily needs if not you no go fit wait make your investment mature well make you for enjoy am.