Topic: Why you need patience to invest in cryptocurrency - page 3. (Read 520 times)

But if an investor learns there is a cycle in investing in crypto, I think he will be patient enough to wait for the halving. Somehow the cycle is too long for them to wait especially those who are here for the short term only, they will eventually sell when they see prices go down or if they are already in profit for as 20%.

When crypto is introduced to them as get rich quick, the more they would assume a short term will be the route.

It's very common this days for people to easily give up after trying a concept and it didn't work, or likewise want to see results before believing that a concept actually works, forgetting the fact that nothing good comes easily, or whatever asset whose value will skyrocket high does so in a short while. Hence, patience remains a must have for whoever wishes to reap good of a crypto investment, since Bitcoin is an asset whose value grow with demand and supply.
Because patience is that quality that helps you to endure even when everything seems rough due to the fluctuating  up/down nature of the price of crypto

Whatever your sister have decided to do with her pi is her choice and she can’t be said to be wrong or have taken a wrong step in her decision. She already enjoyed the fruits of her labour by selling those coins. When she was mining them, it would have only taken her time and data to be doing that, I am sure the money she got off it now would have paid for all the hardwork she put through the process of mining.

By she selling the coins now doesn’t mean she has taken a wrong decision, what if the pi doesn’t worth anything even in 2025 that you’re anticipating for it to be launched. To me, she only tried to minimize the risk ahead and already took profit now before it gets late. People thinks differently and react to things differently, she might not be able to withstand the heartbreak if this project fails and nothing was made out of it. But for those that can take on the challenges ahead, they will want to buy and keep it while hoping for a better future.

That's good for her. But the gospel truth is that somtimes you might be holding into something that is worthless at the end. Though it is good to invest and be patient but. some times patient without knowledge and proper research can be a waste of time and efforts. just like doing analysis and proper research before investment. Because of this mindset has kept many people stagnancy

The pi you are talking about has been around for a long time now. An many people are looking up to it. For me is better I keep holding for more time than selling off the coin the way she did. I think the inpatient you are talk  about riffers to her. because she sold her pi coin at a cheaper rate without considering how long she has been waiting for it success. who knows what would happen lf she continue holding. Because before people develop interest on buying the coin maybe they might have gotten an information that it will be good, and now they are buying it. If the project becomes a success, she will have her self to be blamed just like Laszlo Hanyecz who sold his 10k Bitcoin for 2 pizzers.

So to me patient has 2 ways negative patient and positive patient.
1. Positive patient:is when you have hope on something and decide to see to it end and it became a success
2. Negative patient: is when you hold onto something that is worthless or having patient for so long and given up nearly when you want to reap the fruith of your labour.

Compliments of the season to everyone. Why It's good to be patient while investing in anything like cryptocurrency. About four years ago, my brother introduced the family to Pi, a new cryptocurrency that you can mine on your phone for free. He told us all we needed to know about it. Some of us were skeptical, while others ensured they mined every day, and some just ignored it. Over the years, some gave up along the way and never bothered to invite others or even continue mining.

Just three days ago, someone my sis knows contacted her that she wants to buy Pi at the rate of 300. My sister, who had been mining but gave up, and never believed in it again decided to sell hers. I tried convincing her that it's not a good idea to sell now because by 2025 when it will be launched, it will be worth more than what the person is offering. My sis  wasn't convinced and sold hers for about 98k. She was so happy because she didn't believe the Pi she had been mining for years would yield something. Now everyone in the family is interested in mining now, because them don see small money my sister made from it😃

The point of this story is that many people have been introduced to various investment platforms but didn't have the patience to continue because they wanted to see profits as fast as possible. I'm happy because my sis, despite selling all her Pi, now realizes it's real and this will motivate her to keep mining. The person who bought her Pi is investing in her future because she understands its potential value when fully launched.
This is why it's good to buy as much Bitcoin during its bear run or bear market and not succumb to fear and sell them off. Cryptocurrency investments require patience.