Balancing Bitcoin Accumulation with your Financial Reality

[Joeboy]

I really don't see any point for me to start explaining the current economic situation to anyone here since many of us are constantly experiencing it on the daily....There is constant rise in price, shaky jobs/income, falling of naira and whatnot. Truth is that it is this hardship that make some poor and average Nigerian folks to sometimes question if  Bitcoin accumulation is even possible for them..

Just lastweek or so,  I was going through a write-up by some guy on this forum, were he said that Bitcoin accumulation is more realistic for the rich folks and more difficult for the poor folks. Well the guy said is actually right..But then let ask ourselves this Question -  Is difficulty the same as impossibility? Meaning that coz something is difficult doesn't have to mean that it is impossible to achieve, though it may require some level of effort, patience and discipline to get there....

This is why I think that the focus of people mostly the poor and average folks shouldn't be on if Bitcoin accumulation is possible, rather it should be on how it can be approached in a balanced way without it hurting themselves financially.....To approach Bitcoin doesn't require much if your discretionary income is available. If it is, then what you have to do is go on to use the strategy that fits your financial pocket, it's wrong to rely on someone else's investment amount/ strategy, since everyone financial situation isn't the same... Even if it is little amount you can start with, it is okay you do so and make latter adjustments when your income increases..

[Jubilee58]

I really don't see any point for me to start explaining the current economic situation to anyone here since many of us are constantly experiencing it on the daily....There is constant rise in price, shaky jobs/income, falling of naira and whatnot. Truth is that it is this hardship that make some poor and average Nigerian folks to sometimes question if  Bitcoin accumulation is even possible for them..

Just lastweek or so,  I was going through a write-up by some guy on this forum, were he said that Bitcoin accumulation is more realistic for the rich folks and more difficult for the poor folks. Well the guy said is actually right..But then let ask ourselves this Question -  Is difficulty the same as impossibility? Meaning that coz something is difficult doesn't have to mean that it is impossible to achieve, though it may require some level of effort, patience and discipline to get there....

This is why I think that the focus of people mostly the poor and average folks shouldn't be on if Bitcoin accumulation is possible, rather it should be on how it can be approached in a balanced way without it hurting themselves financially.....To approach Bitcoin doesn't require much if your discretionary income is available. If it is, then what you have to do is go on to use the strategy that fits your financial pocket, it's wrong to rely on someone else's investment amount/ strategy, since everyone financial situation isn't the same... Even if it is little amount you can start with, it is okay you do so and make latter adjustments when your income increases..

The truth is that , both the rich and the poor do invest and when it comes to bitcoin investing, it is still thesame. Every individual has his or her investment capacity and everyone cannot invest in Bitcoin in thesame rate, while some people will start big, other people can start small and grow big.

With the present price of bitcoin, you must not buy a whole Bitcoin if you want to invest.There is a saying that journey of a thousand miles begins with a step. As a beginner and as someone who is not buoyant enough, don't be discouraged with the price of bitcoin, make your plans and allocate some amount of your income to Bitcoin, no matter how little it may be, consistent allocation of small fund can grow to something big with time.

[Agbamoni]

I know there is a similar topic here Balancing Financial security and Bitcoin Accumulation

All you did was change the position of "Bitcoin Accumulation" and "Financial Security," then replace "Security with Reality."

OP, you wrote nothing new here.

[Hewlet]

This is why I think that the focus of people mostly the poor and average folks shouldn't be on if Bitcoin accumulation is possible, rather it should be on how it can be approached in a balanced way without it hurting themselves financially.....

From the way you introduced the topic, it looked as though the angle you are going to take the topic on is the fact that bitcoin investment demand a level of financial stabillity and so, a new investor especially one that is of our country should endeavor to build his finance first before considering building his bitcoin stack. if you are negligence on building of your finance, it is 100% certain that even with the best investment strategy that you are going to encounter problem because fact still remains that it is not all about bitcoin bitcoin investment but also about the things you have set in place that will help you in your bitcoin investment strategies.

[Doan9269]

Bitcoin accumulation is not what is hard to achieve, but we must first set out our goals and make them visible, then take measures to what we should do and not, the strategy for our investment and how long we are going to maintain it, we cant afford to borrow money for this same purpose, neither can we invest without drawing out the roadmap on how the investment is going to look like, so that we don't ran into unforeseen circumstances and be in loss being unaware.

[Xackie]

‎I understand your point. Bitcoin isn't made only for rich people, it's for everyone as long as you are consistent with your accumulation and using resources within your power without hurting yourself. Even if you don't have big amount of money to buy, you can start by buying small and regularly, and also being patient along the way. This alone beat someone who just buy with big sum once. But the most important thing is to know your limits, use what you can afford and adjusting as income grows. Comparing yourself to others or their amounts doesn’t help. Instead focus in on what you are building.

[FirmWars]

I gave a different thought to Bitcoin accumulation as a citizen of Nigeria, then I came to understand that being a Bitcoin investor in Nigeria as a common man or a middle class person is not difficult but the important thing way they make some people not to invest is not the finance but their mindset. I just get one conclusion say Bitcoin investment for poor and middle class people nah just mind set, if you don't register it in your mind that you want to start investing on Bitcoin, you could be getting the money that is enough to provide your needs plus invest on anything you want but because your mind no they for Bitcoin investment, you will keep giving yourself reasons and excuse not to invest. If you wan invest on Bitcoin, first put am for your mind, tell yourself say you want to do it and believe you can do it, the  start working towards it.

[IceLincoln]

It’s true your topic looks like the one indicated by Agbamoni.
I’ve been seeing a lot of posts of people trying to paint it like bitcoin is one hell of a thing for newbies and below average guys.
If one is interested in bitcoin, all they need is to be able to have discretionary income after sorting out their survival and sustenance bills.

So long as you fit Dey invest in am small by small, Dey do am consistently in a way wey be say e nogo worry you
No matter your income or status, wetin you need na just discipline and the correct mindset and practices.

[igebotz]

https://asktom.cf/index.php?topic=5546384.0