Post
Topic
Board Bitcoin Discussion
Merits 5 from 3 users
Topic OP
Few reasons why people are hesitant to buy or HODL bitcoin/Crypto
by
kentrolla
on 01/10/2023, 19:02:27 UTC
⭐ Merited by Nheer (2) ,Chilwell (2) ,DabsPoorVersion (1)
Here are some of the challenges restricting users from buying and hodling bitcoin:


1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade. 

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Feel free to share your opinion on how we can fix this.