I usually have people come to me for help on how to make some money online, this first thing I usually tell them is that, if they're looking for a way to make quick profits online, then I don't have it, but if they're seeking for a way to gradually build wealth overtime, then I'd be happy to help them. Nigerian economy is messed up and everyone is looking for an escape route from the hardship and that's why majority of the people who go into the market are mostly very interested in taking quick profits, not like I blame them them for that, but it'll only result to unnecessary panic and pressure just as you've rightly stated, whenever the market declined, they feel they're losing their money, and even when the market is in an upward trend, and theyre making some pretty cool profits, they'd also feel like taking their profits and this only means they lack that long term outlook and also missing the big picture while chasing small profits.
This is the main problem of our investors. We do not correct ourselves from our mistakes and are busy in making short term profits. The problem we have in Nigeria is that people lack a stable source of income and most of them are suffering from economic problems. The people you recommend to make money want to make quick profits if I tell them to stay involved in the forum and become more experienced in Bitcoin investment, they will not have that patience but they want to get rich before keeping working.
I cannot play a very effective role in the economic liberation of the poor and their permanent income arrangements but I can give the right direction to the enthusiastic people such as effective and meaningful efforts to increase their source of income and advice to put out laziness and become hardworking. Accumulation Bitcoin from any amount of discretionary income at the end of the week. If the new investor has long term mental and prudent resources, then he will be able to run those cycles correctly and smoothly.
Making money quickly have been the mindset of most newbies, they always want to take profit in short term, it is understandable that nigerian's face economic challenges like unstable income and the rest of it, but it is also important for us to re-orientate the mindset of our people in telling them that investment that would give you high return will take a long time, any investment that gives you high return in short term is purely a Ponzi scheme which will eventually crash in no distant time.
Economic liberation for most persons in this part of the world that we found ourselves is not only about the financial aspect of it, but also the poor decision making in choosing the right investment to make and need to have foresight if they choose invest in Bitcoin, which brings us to the point of letting them know what investing in Bitcoin would mean, which is them making profit in the long run if they choose to be patient, investing within your discretionary income and bein strategic in building their portfolio over time.