Quote from: tygeade on February 19, 2025, 05:54:01 PM

Quote from: Btcdeybodi on February 18, 2025, 05:29:14 PM

Quote from: Agbe on February 18, 2025, 04:42:44 PM

Let me make it very simple for you to understand. I am not saying that you should not invest but make your alternative calculation before investing. You can invest at all time. And the risk is always on you not another person. And if you don't know you have to know now. The fluctuation of US dollar affect bitcoin investment most a country like mine and those countries that have the same fate with mine. Right now $1 is N 1,548 and the price of bitcoin is $94,750. And my interest is not even bitcoin but $/local currencies. If you invest now and you invest with $2,000 now and in 20 years to come bitcoin hit $700,000+ in my country $1/N100. Do I gain or do I lose? This my point please understand before commenting. You are free to invest at all time and wait to 100 years to come.

This is just a wishful thinking because you and i know that the reason why we are investing in bitcoin is to save our money from inflation which Fiats currencies are likely to suffer over the years and from your analysis, we know that unforeseen events can happen in the future which can make the local currencies to gain value over the US dollar but i know that you are just giving an instance but let's be realistic here, do you think that your local currency can gain so much strength against the dollar in 20 years time? definitely NOT gonna happen.

Even from the calculations you gave above, you still look lost because if the price of Bitcoin skyrockets from the $94,750 to $700k+ in the next 20 years, regardless of your currency conversion rate against the dollar, it will still be profitable to you because there will no longer be inflation or it has reduced to the minimal which means the cost of living will also be lowered as against how inflation drove the cost of living when the price of your local currency was 1,548 naira as against the US dollars. I don't know if am making a sense to you here?

True. Even in a case where any local currency could gain something over dollar, it is not going to do it against the bitcoin at the same time. If we can invest into bitcoin, we are leveraging ourselves over all other fiats in the world, and that is why everyone who gets into bitcoin, usually stays in bitcoin.

I have seen plenty of people who said they want to leave, and eventually they ended up coming back, because they all see the benefit of bitcoin here and there, which makes things a lot easier for the long term as well. This doesn't mean that we are going to see much changes, it is not going to be easy, but if we can make it work, then we could definitely consider this a very important figure for all of us.

Like it’s popularly said by bitcoin investment expert, the right time to invest in bitcoin is now regardless of the of the value of your local currency. Imagine someone who did not invest in the last five years when bitcoin was probably 50 thousand dollars per one btc because is local currency was suffering in the forex market maybe due to poor policy decisions made by the regime in government at that period of time , such person will be in serious regret by now .

The best advice you can give a friend is invest more now in bitcoin whether the economy of the country is favorable or not