Topic: Some ignored but salient Bitcoin investment fact (Read 221 times)

On the second point I totally agree Bitcoin investment is definitely not for everyone, not everyone is patient enough hodl for a long time especially with the unstableness of the financial market, it takes someone that is skilled and knowledgeable about crypto currency to hodl inspite of all that. I think Bitcoin can be a means to financial freedom, there are people that got rich with Bitcoin investment it all depends on your capital and how long you have been hodling

that's far from my intention, I only highlighted what's the difference between Bitcoin being a source of financial freedom to Bitcoin giving holders full control and ownership which I felt is better looked at as soverinty. Maybe our choice of words and what we understand it to mean might differ but at the end we're almost on the same page and to be more specific, if what you mean by financial freedom is having total control of your finance then we are definitely on the same page although what i meant from the post is that Bitcoin shouldn't be looked at as something that will guarantee your financial freedom or buoyancy at the negligence of other areas of ones life that really matters as far as issues of getting wealthy is concerned.

I agree wit u on number 2 bro, dat bitcoin is for everyone, but bitcoin investment is not for everyone, u are right bro, but u have to learn how to have d knowledge of bitcoin, which is very open to everybody in d community to show interest, but bitcoin investment are those dat have d knowledge and money to invest and wait for d result to come out. U want to mak progress in bitcoin investment, don't ignore putting money into bitcoin investment during d bear season because dat is were d money will b coming from as form of income, for u to b proud to b a bitcoin investor in d community, but if u are not putting money on bitcoin during d bear season, u will not expect any result from bitcoin investment because those dat put money will hope for good result during d bull season.

You had to put in a lot of energy on this just to confuse me than convincing me. Was hoping you would have likewise gave the meaning or definition of the financial sovereignty you coined, at least for the purpose of learning we could have dissect the difference better if actually there exist a difference. Because the two are interwoven in as bitcoin is concerned it's all about giving financial sovereignty and freedom to am extent to the people.

However, if you later acknowledge that you can sell at some point, that means it is contradictory to say when you sell you are losing.... What about when you sell at a point that you have profited from your investment, do you still lose? No. So, it is better to identify your entry area and to know your selling point.

Although, if you keep your coin longer from your profit area and it keeps going higher then you will be in more profit but nothing says it is wrong selling at profit zone. When you sell especially as a whale, it further drops the price where you can open another buy order from a cheaper falling zone to hodl for another round of profit rather than hodling longer than necessary in profit.

there's a big difference between financial sovereignty and financial freedom. what you're referring to with this explanation is financial sovereignty and not financial freedom. A simple look at the Google search shows that " financial freedom is the State of having enough income or savings to cover your expenses, giving you the freedom to live life on your own terms. in order words, financial freedom means that you have attained a state where you're comfortable financially and can achieve most of your financial needs without stress. It is with regards to this that I'm talking of and not the total sovereignty that comes with owning Bitcoin.

What then is the means to financial freedom. Is it gold, stocks/bonds, real estate or what?

Nonetheless, you are getting it in a different twist when we say bitcoin gives financial freedom, it doesn't mean you'll be free from not  working hard for more money through other means or a full time job crap talk... It simply mean bitcoin taking away the control of your money from the middle man and giving you as a person  control over it. The autonomy of your money how and when to use it absolutely handed to you.

No restrictions on spending or limit placed for withdrawal and despot (transaction) . And your growth under the bitcoin ecosystem simply lies in your hand by how much knowledge of the market you possess and how you chose to utilize such knowledge by virtue of it's volatility.

I will agree with this that you said because it's too expensive to begin wih especially for someone trying to start life and no means and think investment into Bitcoin is a way to us financial freedom then that's a lie, you can't do that right now but you see, if you have invested in Bitcoin when it was trading around $100 and less than a thousand dollars back then, your explanation would have been voided but we are now where Bitcoin is too expensive for the average people.


Centralized exchanges has a very bad history of keeping coins in unsafe wallets, many of them has scam alot through ban, through money stealing and run away of customers funds. If Bitcoin want to compromised, it should be another things we can look morr into without affecting the purpose of Bitcoin which is decentralization, security and comfort of transaction.

Anyone who have been in the crypto industry for a long time now should have understood that when the price of Bitcoin is falling is not a time for panic selling because doing so will only result to losses and Bitcoin is not like every other cryptocurrency out there where most people want to invest now and see the profits tomorrow, it doesn't work that way for Bitcoin, before you invest in Bitcoin you ought that have it at the back of your mind that you are embarking on a long term journey such that nothing is gonna distract you from being focused on the long run so market fluctuations that results from corrections shouldn't be a thing of concern anymore. It's only newbies that are scared and does panic selling since they don't have a complete understanding about the value of Bitcoin but with time they can also get accustomed to how the market works.

although say this one na true to some extent, no be Everytime when you sell na him you lose oh! You know one thing about us when from Nija when de invest in Bitcoin, sometimes you fit buy when exchange rate de favourable like when e de at N100 per USDT and even if Bitcoin at the time na $50k you come get urgent needs when you wan sort out the next three months and Bitcoin don drop reach $45k while the exchange rate don de favourable around N1700 per USDT, selling at that point fit no be at loss. But then, in most other context, when you choose to sell na him matter most and na that one really de show the difference between a serious investor and another that's just in for the sake of trading.

this one na the Koko oh! most expecially for our Nija case when we even de pray make we try see even if na our daily bread. If you never chop well, who goes you to even reason any form of investment? If you go de yarn person say make him de invest into something for when him go only de certain of him profit after an interval of four years and say him go de invest everyday, the average street guy fit put am for your body woto woto cause normally, joy no de.
I had joined in this conversation on the general Bitcoin discussion board and honestly, the idea the OP raised are valid ones and true true, we no fit rule out the impact of the decision of the big whales on Bitcoin most expecially when we have countries like the USA making Bitcoin her reserve and then other countries joining in such trend. Thier decision to stop buying or sell at any point in time will have a damning effect on the reputation of Bitcoin. The way Bitcoin take become something when the average man like na based on its decentralized nature and anything when make am loose that quality, its fate will be same with most traditional banking systems we have around here.

Something to understand about bitcoin is that until we've built ourselves ready and get knowledgeably and financially equipped before adopting the use of bitcoin either for payments, trading and investments purposes, it wouldn't be a convenience place for any to curtail the condone its volatile potential after adoption.
Literally we can not undermine the volatility tolerance of bitcoin and the skeptical of assuring safe funds while holding in the decentralized wallets unlike the trust built in the centralized banking system.

Generally speaking, this statement is incompletely correct. It is true that when you sell based on FOMO without a sustainable withdrawal you are likely to lose in your investment as long as you have not reached the target you had in mind. And it could be only considered as loss when you sell because of unforeseen circumstances like a need for cash could force an investor sale at an uncomfortable time. Selling above your entering price can be considered to be profitable.

I agree with you here! Anyone can use Bitcoin to make payments, buy and sell and for other supported purposes but not everyone can invest in Bitcoin and the reason is because of the risk tolerance. Not everyone could be able to mitigate risk and exercise patience. If it's not greed that comes in it would be impatience that may hinder the investment.

At all. Bitcoin should be seen as a get-rich scheme. The asset is volatile and same way it can make someone make a huge profit it is the same way it could be possible to make that person lose heavily.

This is a subject for debate. As long as the process of adopting Bitcoin in our wallet has to go through a centralized exchange and custodians for most countries creates tension and concern for new and old investors. It was meant to be decentralized and its partly not. Feel free to prove me wrong.

Selling below the purchase price is a big loss, not just by value but also with the time that the person has spent in holding that bitcoin.

One of the reasons why we are advised to always invest what we can afford to lose or what we don't plan on using anytime soon is because the price of bitcoin is not something that we can always predict and it's not something that will always have to go up without dropping in price, so if one invests what they can stay without for a long period of time, the price drop is not supposed to affect them again, as they have all the time to wait for it to bounce back to what they purchased it at.

I agree with u in some of d things u have mentioned in this trend, that can salient BTC investment which u have alternative to overcome them to make sure u don't fall victim to those things in d industry.

I just want to add some of d things that can salient BTC investment, which I have experienced many from newbies, and some of them have learned from other people mistakes to know how to ignore such things in d industry. Firstly, ignore knowledge, if u don't have d knowledge of BTC investment there is no way u can improve like those that acquired d knowledge of BTC investment before going into BTC investment,  secondly,  don't buy BTC when d price is high, u need to ignore such attitude that will make u to buy BTC when d price is high.

I think you are misunderstanding the meaning of financial freedom that bitcoin gives. It is not what you stated above, when we say that bitcoin gives financial freedom it means that you are your own bank i.e you are keeping your bitcoin in your self custody wallet and no third party is in love when you are using bitcoin for transaction because it uses p2p method of payment.

Unlike banks that keeps your funds for you and they have to give you access before you spend your funds. Banks can even limit the amount of money that you can withdraw a day but bitcoin is not so. You are in control of whatever amount that you want to send to anyone without the government knowing, if it like let it be $1m in bitcoin. As long as you are transferring from your private wallet to another private wallet and not through an exchange or centralized platform.

Government cannot freeze your bitcoin in your self custody wallet...that is financial freedom.

On the number 4, the link you posted their is broken. You can correct it.

But with some level of compromise, bitcoin remain decentralized. You can decide to go for decentralized exchange or nonKYC exchange. You can even prefer to by directly from someone like on this forum.

These are some about Bitcoin and Bitcoin investment I have observed, what's your thought?

1. You only lose when you sell: though this sounds a bit contradictory, it's true. Although the market went down some days back, if you held your Bitcoin and didn't sell, the effect of the market condition wouldn't get to you which still supports my statement that it's only those who sold that lost. Not as though you wouldn't sell at all but at what time you choose to sell determines if you will lose or gain from your Bitcoin investments.

2. Bitcoin is for everyone but Bitcoin investment isn't: yeah, as tough as this is, it's still another fact you have to understand. Although everyone can use Bitcoin as a decentralized means of transaction, It's not everyone that can invest in Bitcoin. Those who are still struggling with their finance and those who aren't disciplined enough to accumulate a good amount of Bitcoin and still stay comfortable in the different market conditions shouldn't invest in Bitcoin. If they do, they will end up selling when they ought not to and end up being in loss.

3. Bitcoin is not a means to financial freedom:
this is yet another truth most newcomers miss. It wasn't created for such purpose and can never serve as a means to your financial freedom regardless of it volatile nature that's now a serious subject of discuss. You don't get involved in Bitcoin as though it's a full time job that will secure what your financial life will look like in the future. In a more direct way, if you're not financially strong before getting into Bitcoin investments, it's going to eat you up and you will have to take your exit before you even notice. For you to get the best out of Bitcoin, you have to look at it as a store of value first before considering it as asset that will yield tremendous profit in the future.

4. For Bitcoin to succeed well, it will experience some level of compromises: though Bitcoin is decentralized and independent of any central authority, buying Bitcoin using centralized exchange and accepting that Private institution and big exterblishment should hold Bitcoin will im one way or the other trigger a need for some level of compromise with regards Bitcoin being totally decentralized. This thread will explain it better . Here

Which of these do you disagree with? And what other salient Bitcoin investment fact is is relevant to be known but mostly ignored?