Topic: Patience is not enough for hodling Bitcoin (Read 805 times)

Op I'm totally agree with you because their is know how that you would have Bitcoin in your wallet and you allow hunger to kill you in the name of having patience before you know that you we sell your Bitcoin, sticking to emergency fund is always the best idea as a good investor because without that I didn't really think it will be possible to hold Bitcoin for a long time investment. However once you have another source of income that we be bringing money for you of course you are covered by holding your Bitcoin investment for a long term period.

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

You make a valid point, OP. Patience alone may not be enough for HODLing Bitcoin. It is true that having a source of income is crucial for people to have the patience to invest in Bitcoin. When someone is hungry and has Bitcoin in their wallet, it is understandable that they may need to sell it to meet their immediate needs. Before investing in Bitcoin, it's important to consider having a steady flow of income. Without it no amount of patience can sustain HODLing. When there is a reliable income flow to rely on for survival and financial stability  then we can talk about having the patience to HODL Bitcoin and potentially gain profits. It's all about addressing the negative factors that may hinder patience such as meeting daily needs and solving financial problems.

Well that's right , we are all aware that the pullrun is yet to come . So inorder for one not to miss such wonderful opportunity he or she will have to keep holding aslong as they can.  And we can all see that Bitcoin as spend a long time at the range of $60k even when they where  drop in price Bitcoin kept on bouncing to this same price range. So there's a high probability that of Bitcoin beat the price range of $75k Bitcoin next stop will be around $80k , and after beating $80k the next stop will be at th price range of $100k and above.

So we can manage to tell that Bitcoin going to create another new cool ATH base on speculation, but we can tell what the new ATH price will be and all that . So let's keep holding and when the time comes we will know when to sell expecially for those with nice quantities of Bitcoin stash. That's why is advisable to keep accumulating, and be aggressive as any way he or she can in their accumulation.

Don't stop pushing because consistency matters. Patience is the fuel that drives us into holding bitcoin till this very moment, we just have good patterns to follow because earnings have always been our priorities in the system, it can become challenging for most of us out here but we shouldn't give up because there's more to accomplish. Bitcoin is an important investment in the space, we should always stay mute because there's a whole more coming to our ends in the space. We should never relent but focused on the bright future and never stop anticipating in crypto activities.

You are right. You must have a solid employment before beginning your investment in bitcoin or any other investment, because without money to invest, you will be unable to find patience to stay and leave it for an extended period of time. Whenever you invest because you don't have any better thing to do that will be bringing money to you, it will be very difficult to invest and any problem that comes to you will definitely you will think about money you invest in bitcoin, but if you have any source of income, you can leave your invest and try to borrow from others, then when you receive your salary, you can pay the money you borrow and solve your problem, and your investment will still work smoothly without thinking about am and your money will be increasing that is why you need to get a better business that will be helping to solve your issue without touching your coin you invest in.

Some people have money to invest but are hesitant to do so due to a lack of information or simply because they are uninterested in bitcoin. They will try to discourage others from participating and are unwilling to wait to see whether what they say is real. and some they will start the investment but when they see the coin is dropping down they will start feeling sad and think they will lose all their funds on the investment and that can people can run bitcoin investment because they can't take risk and you will call them they are not patient they mind is on winning anytime and you can't just be winning anytime one day you need to fail to correct your self so that next time you can no what to do.

Op, I will agree with you to an extent because some people who don't allow their investment to stay long is not because they don't have means of survival or what is giving them money. Some people are just like that, inpatient while some people no matter the hunger or situation they won't pull out their money till it get to the point or amount they need. And trust me, there are times patient is not suppose to be an option or consider because sometimes you might regret why you didn't do the needful. So long as you didn't pull out when you aren't on loss there's no problem.

Yes, you actually spoke well my friend, because investing is never complete until there is an alternative to sustain you while the investment holds for either short or long term profit, and as such this has always been  the reason why we always make this popular statement   (i.e invest an amount you can always afford to lose), , and secondly look for a job, because one thing I have noticed is that many persons have this wrong misconception about Bitcoin being a job, whereas it is a currency, and an asset. Which is as though patience is needed, it's also good for one to own a job

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.