Topic: The common man and Bitcoin. (Read 559 times)

OP, if you still check, Bitcoin still d fulfill its purposes despite sae people d see am as a means to elevate their financial status. However, if we should go back to the history of Bitcoin price, the price it was years back, we go begin to the have the thought that Bitcoin can elevate one financial status in the long term, and there's nothing bad if person to have the idea of hodling bitcoin for long term and still selling it at a high price. By the way, wealth creation to humanity is still part of Satoshi true purpose of creating Bitcoin. Nothing spoil Bitcoin with that kind of idea coming to people "to buy Bitcoin at a low price and sell at a high price''.

OP, come to think of am, assuming there was nothing like wealth creation through Bitcoin investment, do you think we go still find people globally, who want to invest in Bitcoin by all means considering its volatile nature, wey be sae there are other assets one could have.

That said, I think sae na because of the potential profits we stand to gain in the future na why we d see Bitcoin stand out as the best asset to have for the future, cos as for we can see other mediums that offer the same offers as Bitcoin does

Bitcoin has several potentials but majorly much emphasis are given to it as that which has brought hope for mankind by giving or offering that very financial liberty without interference of any authority such as government. However, I will say that such purpose has already been achieved  or accomplished by Bitcoin over the years since it's invention and at such, Bitcoin didn't need the view of any common man as to this regards to fulfill it purpose. Surely, common man can become successful in Bitcoin investment if only he or she has that personal conviction and believes in the true potentials that Bitcoin holds, by having a long term perspective or plans, identify how much of his disposable income after taken care of basic needs with a provisional emergency funds, with dca strategy even though consistency and patience is required, there is a high possibility having a successful Bitcoin investment if hold for as long as necessary.

I have to agree with you that Bitcoin was created for individuals at the time and holding it allowed people to have financial freedom without any government interference. What we expect from Bitcoin later on can be something more like paying for the purchase price of a product for an organization or for the remuneration of work, besides its scope can be progressively larger and more over time. When a person gives bitcoins to another it is done through a decentralized system and without any intermediary which we can call financial freedom because there is no third party intervention. However, Bitcoin holdings can become more stable as they grow and holders continue to accumulate Bitcoins. The emphasis should be on holding more to insulate one's finances from inflationary pressures so that Bitcoin can indeed be an important hedge against inflation at the individual level and gradually on a larger scale.

Bitcoin was created to satisfy two purposes which is financial sovereignty and as an investment opportunity. It surely promises to fetch it's investors good profits after a long term of adoption. So it's possible to liberate it's adopter from poverty if he's willing to hold for a long term.

The major thing tho night when investing in Bitcoin is that it's not a GET RICH QUICK scheme and experiences high volatility, but every cycle after halving a bull run ensures which appreciates the value of Bitcoin and fetches it's investors momentary gains. However investors are advised to hold for a longer term possibly 10 years or more to obtain substantial profits from Bitcoin.

Bitcoin wasn't created by Satoshi to give people financial independence. The main purpose why bitcoin was developed was to solve problems in the financial sector, which is to cut off a middleman from scrutinizing our transactions anytime we want to send money to anyone and also give us full control over our money so that nobody or government can spy on us or decide when we can use our money. The financial independence that people are achieving through bitcoin investment is one of the benefits that comes with holding bitcoin for a long time. You can also overcome inflation if you are keeping your money in bitcoin, which is also one of the benefits of holding bitcoin.

Op, weytin you dey talk sef. The core mandate of  bitcoin na to make everyone a classless financially independent, regard your status in the society you can participate in bitcoin by learning how to trade or hodl. So there is nothing like common man,  bitcoin is a classless coin, you buy at your level and get paid base on what u invest same with others. No body is special or given special treatment. Na why dem call am decentralized coin. No body dey control am.

The moment you talk say bitcoin founder vision no be to give people financial independent the rest talk no come make sense to me.  Plenty people in the world are financially independent bcos of bitcoin.  Bitcoin na financial freedom investment, invest at your level and smile to the bank after some years.

All this one’s wey you talk now na just Normal talk, if them get anything wey person suppose use the word tag ‘invest on’ I tell you this bitcoin is also that thing. Invest is simply an item or asset that you put your money with the expectation of it gaining value or bring profits over a period of time. I tell you this bitcoin is that asset, even if we all warn about the expectations of its profits just to make newbies wary of its risk there is a great potential of it  to grow into profits when hodl for a long period of time. So investing is the right word to use on bitcoin and nothing wrong about.

Na the profits all of us dey here for na because Bitcoin self never get better utilities yet as e never dey accepted for the country. Nobody for Nigeria dey use Bitcoin buy any better things unless you dey shop from outside wey be say you go pay with Bitcoin. E no come bad say we dey here for the profits because all this one follow for the reason Bitcoin was invented to give back the common man hope as the elites dem, dun centralized everything. Even the investment opportunities dem.dey hide am from us and when e go reach our side, dem go come use us as exit liquidity.


Bitcoin true purpose was to be a currency based on say Satoshi been dun see say the government wan imprison everybody under this fiat money system wey dem create. Bitcoin was to be the way out as an alternative currency wey we fit dey use so that one never dey happen yet but as an assets, Bitcoin dun achieve that one. Government fit no allowance Bitcoin to be an adopted currency officially but soon dem no go fit stop us when we decide say na Bitcoin we want use to dey transact. E go first start online before it goes physically in stores.

From what we have seen so far from Bitcoin investment, we go fit sae Bitcoin is at the process of fulfilling its true purpose. For the time being, we go fit say Bitcoin has successfully achieved being decentralized, creating financial stability to some people, alternative to traditional fiat, as another store of value, censored resistance in the sense that anybody in the world can invest in it freely without any condition and lastly its security and transparency na wetin peso go fit trust in the network.

Apart from the stated purpose above, the remaining true purpose wey Bitcoin need to actualize in the future na to be widely accepted globally. Once Bitcoin don finally achieves that, em don successfully fulfill all the true purposes behind its creation.

Me, I no dey like to use the word "invest" when talking about Bitcoin. Using the word "invest" only means, you are operating on a different platform that requires Bitcoin to settle on a stage by stage investment category like Gold, silver, platinum, legendary, e.t.c with a required and agreed percentage where expert traders uses your Bitcoin to trade and credit you depending on the category you engage in.

Meanwhile, Bitcoin is an asset where you only "Buy" and 'Sell"  not "invest" . Watch closely, all exchange either cex or dex uses the Green and Red button, Buy and sell not invest when acquiring a coin. So it's never advisable to use the word invest when talking about bitcoin, it's simply buy and sell, so you won't lull people into thinking differently.

Don't buy Bitcoin and expect to get rich soon, it's just a means of been your own bank and sending money fastly whenever you want.

Your definition of common man no seat well with me,
The term no only Dey applicable to finance but, e get a broader scope way describe the level at which person know something, be it Bitcoin, finance or any other field out there.

Common man simply refers to anybody way get zero or little knowledge about a thing and no be only finance or low income earners. You fit be reach man and fit into the category of common man to Bitcoin because, you no sabi much about am.

To say common man Dey here, I go agree with you but, na common man way wan learn and e go eventually learn.

I agree with you. It's good to always invest in Bitcoin but it is better to invest in what you believe. Some people are not so confident about the system yet so they do not have the mind to invest in Bitcoin. I they see common men wey they invest plenty money for the system not because they have a whole lot of money to put into it but because they need to sacrifice the little they have since they already trust the system.

The thing is the overall benefit of investment. If you trust in the process, try and invest as much as you can without having to hurt yourself financially. I don't believe in the philosophy of starving myself in the name of investment. If I must invest, I must also make sure I have something to take care of myself with.

I believe you are right. That is the primary issue some people are having, they don't understand the true purpose of bitcoin they just want to invest and get profit quickly they don't realize it's all about patience you can't get wealthy overnight, you must work hard and be patient for a long time. Even the people that become rich through bitcoin didn't expect that bitcoin will pump like this when the price is low, but people that are always thinking that if they invest they will get huge profit fast I don't blame them because the people who introduce bitcoin to them probably didn't explain it to them, and when they told them they will be profitable when they invest, i didn't blame them is the people that Introduce bitcoin to them they didn't explain it to them probably, and when they told them they will be profitable when they invest they didn't no about the risk and patient. thinking that if they invest they will get profit for short-time, let try to be understanding how things go before investing on it. if you can't invest for long term you should not risk all your money to it his better to start with small funds so that you will know how he works.

For a man to accumulate bitcoin, the best thing to do is to be patient, and he should have a source of income, that will be supporting on his investment, because without getting a source of income and you engaged in investment, you will never really succeed on it, because problem can come at any time, and without getting a source of income, you will touch your investment and you will not see your investment progress, so it is more advisable to understand Bitcoin very well  before investing. is good investment but is good to know how he works before invest so that you won't feel discourage when the market is not going well.

If all of us na common men, then I go like add say even inside the common men difference dey because plenty of us wey never get money wella do already dey buy bitcoin because we wan change our story. We no still dey doubt bitcoin because we don see opportunity wey dey inside. We fit no get the same morale wey Satoshi get untop bitcoin but you self know say people dey try especially as e be say this thing na internet money, e take big faith to buy and hold. So some common man dey try while some never really embrace wetin bitcoin dey offer, but na small small, people go surely see bitcoin for wetin e be.

In any investment wey you go fit make you too go put am for mind say you go like see profit. And nah Watin everybody dey do be dat. I know say the main reason them create bitcoin nah because of p2p transactions so that E go day easy for people to do their international transactions without the interference of the traditional bank. But as you see a chance of keeping you more to get profit why won’t you join it for profit?

Make we no lie for our selves everybody want this profit, if not them too no go like invest for bitcoin if profit no dey and this bitcoin stuff no be do or die mata if you no get money to invest work hard to get am no kill your self just because you too wan join your friends or you wan follow them do competition.

E get one talk wey dem dey say "na who don chop finish they do other things" person wey never really see food chop well com meet up with life needs no go wan see the actual reason for d invention of Bitcoin, wetin go dey dia mind go always be how dem sef go take see one or two money from Bitcoin especially as e be say dem don see say odas wey dey run Bitcoin mata get money, dem go feel say na so e be so dem sef go wan run am.

Most person wey be say enter Bitcoin na because dem wan make money no be because of dem wan support wetin d pipo wey create am want, d common man sef him own na just to make money and e no go shock me say almost all of us dey dis category, e go be only one or two wey no dey.

OP, nice point I see you making here but another truth can be that Bitcoin can actually give a person a lucrative lifestyle as hoped for. It more likely happend at the very beginning of the whole Bitcoin case to the early investors. Imagine those who had bought then and still hold even atleast some portions of Bitcoin or those who newly just recovered the phrase to their long lost wallet, imagine if they had bought hundreds of it comparing to how much they will sell today.

Now it is difficult to get even one Bitcoin, but if an investor can be able to maintain accumulating into his portfolio for the longest of time then with the right longevity to holding over different cycles then there is no doubt of making much to call it that financial stability. The whole process comes with strategically investing with maximum holding power.

If you wan really see the beauty of bitcoin nah to embark on long-term investment. The reason why most people don't sees this beauty because most of them are short sighted they only care about how they will get rich quick through bitcoin (which is wrong) . Because bitcoin investment is all about building and holding, because without building a nice bitcoin stashes you won't be able to yield good profits. Though there's no guarantees that if you invest in bitcoin, the price will continue to go up . But base on it previous performance bitcoin has prove to us that it's a coin fill with potential of growth, especially has it gain more adoption.

For a common man to accumulate bitcoin is not actually a big issues, because we have various means one can use to accumulate bitcoin (build a better bitcoin stash), and some of these methods are DCAing, lump-summing etc. But the most common one is DCAing and most time is more encouraging for newbies to focus on that method. And also it can help a common man to balance other expenses as they focus on building their bitcoin stashes . Because with that method instead of buying bitcoin in bulk they can just focus on buying small quantities of bitcoin at a different price interval, in a fixed time  either weekly or monthly.

I understand watin you wan pinpoint for here. Shay the main the main message na say make we no enter crypto as get rich quick scheme without proper knowledge?  That one na true talk. But watin I wan pinpoint for here be say;

First of all na main reason for the creation of Bitcoin. The same way weh money get about 5 functions but only 3 be Im main function, and 1 be I'm first main functions, na so Bitcoin take dey too ( not in the same amount of functions though). The thing be say, Bitcoin start as a result of the 2008 economic global crisis, na im Satoshi mine the first Blockchain write message for inside. The message been contain the date and news for that day, weh been talk about bailouts from banks.

After all this talk, I just wan dey on the fact weh be say, the creation of Bitcoin na for decentralized transactions. Na that one be the main reason before asset sovereignty and protection from inflation Dem Dem follow. So, if someone sees it as a liberation from poverty, when it first came out didn't it serve as a liberation from economic crisis too?

Secondly would be diving into Bitcoin without knowledge. This may be a very contradictory opinion, but isn't diving into something sometimes without knowledge, better than acquiring all the knowledge in the world and still not taking actions? I think it takes great courage to just try your hands on something even when you know nothing about it and how risky it is. Don't get me wrong, this may be the main reason why people say Bitcoin is scam. True, but if one has a positive mindset, they'll take it as a form of growth. 

I no Sha tell you make you go risk your last card unto say you dey try learn but make we no dey deceive ourselves say we dey learn, dey gain proper knowledge, no con dey do anything, cause then, the man who lost his money but has invested before is now probably better than you that think knows it all.

e just be like say na so our nature be, in almost every aspect of life we dey sabi exhibit these kind things.