Don't blame me if you end up screwing it up.
because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.
I know it is a lot of work, but you don't want to lose one of the three parts and then you are totally fucked because you don't have enough information to get at the keys.
For sure there are a few ways to screw things up by providing too much information, by not providing enough information and then also by having your keys vulnerable.. and no one knows if their house is going to burn down (for example), but if all of the keys are in the house that burns down, or even if ONLY one of the three parts of the keys is in the house that burns down, then hopefully you have a back-up of that lost key somewhere (that did not simultaneously burn down) in order to still be able to get access to your coins.
It feels good to understand you have actually done something about this. You know we have been on this issue for a while now, with several options suggested. because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.
In our previous discussion, I never read where anyone mentioned a case of accidents such as you have mentioned here. This is actually an important consideration because a situation where one implemented one of the method suggested which is burying the details of the wallet in the room only to be broken when the time is right, we never considered the case of incidents such as fire outbreake, earthquake and others. Maybe this aspect of spliting the portfolio and keeping the keys in different places is actually good. |
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Yes, you can still make decent money when trading the volatility of bitcoin, but it is not a safe and recommended approach if compared to DCA.
From my understanding, you are suggesting short term trading otherwise called scalping. Well, I will never recommend this to anybody as long as Bitcoin is concerned because there are high chances it will end in pain. How can you take risk with Bitcoin that can move over $2000 in few hours? To me this is outright gambling with odds already against you. I have seen several people fail trying to do this even those using sophisticated softwares. So it is not something I will ever recommend for anyone. It is always better we focus on what is easy and generally workable for as many people as possible. From the discussion in this thread, a lot of people are new to this entire thing so we have to guide them properly to avoid mistakes. That being said, let's focus on long term strategies that will ensure people buy and give the market a chance to yield profits. Is never a guaranteed to make money from volatility, in as much as volatility is concerned the chances of making money is not certain, when we talk about volatility we are referring to price fluctuations moving up and down, however there are chances of you losing out your funds while trading volatility so we shouldn't always see volatility as an easy way of making money it doesn't work that way.
You can never compare DCA strategy and trading volatility because DCA is not established for day traders however it was brought to help people especially the beginners on how they can minimize risk and accumulate with the little funds they can afford.
You have said it all. Assuming he dropped that comment in the trading discussion thread, I wouldn't have objected but since we are discussing long term investment here, it is a kind of distraction. Like I said before, Let the focus be on DCA and other long term strategies. |
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Omor my brothers make una come see tori wey I carry come board today, NASA(National Aeronautics and Space Administration) don dey plan for to build houses for moon just the way we dey watch for Hollywood fiction movies but this time around dem wan bring am to reality dem say because the moon get some kind of magnetic property wey dey pool things to itself say e go make the idea dey possible, and na 3d printing dem wan use take make the building. But dem still get some thing wey dey stand as treat to building houses for the moon, dem say the dust particles for the moon dey very toxic, but for me I dey see say that one na just 10% of problem wey dem get because only oxygen for one day for this country na 25,26 thousand, before dem ho com talk about food and other things. Anything wey get advantage go also get disadvantage... that mean say, the moon fit get good things wey go make am good to live but that one no mean say bad side no dey too. I believe say them dey study more and weighing their options. But that one no be watin dey make me fear, the thing wey dey make me fear na be say, all of us dey the earth and we dey see the wey the government dey handle virus wey spread across the world matter, if dem com package house for moon you no sure say dem go leave us to die finish for earth? Because the heart of men are desperately wicked l, even after the covid e get one video semina wey some Americans been dey do and dem talk say by 2023 dem go reduce the world population by 50%. Just imaging how dem wan use take achieve this dream if no be to kill those wey dey exist? If at all say by the 2040 dem don finally build the houses dem for the moon who know the kind of virus wey dem fit release upon us? This thing really dey scare me no be small. The way the world dey go dey get me so worried. Even though say these advancement in technology dey sweet me, one part of me dey fear make them no use these things hold us for work. As time dey go, na so endey clear say even our body no be our own... na some people get power over our own body. The coronavirus of a thing really open my eyes to see wetin dey sup. Na God go help us sha. |
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I think you forgot to mention emotional control. We also need to control our emotions in order not to fall into the trap of selling out in panic. I think this control of emotion helps holders a lot in the aspect of them overcoming their own fear, and when you are able to survive and don't sell your bitcoin holdings on in any form of investment that you get into, if you can survive the hard times, then there is a high possibility that you can survive a whole lot of things, which is a little step closer to achieving success.
This aspect of psychological preparation is what many people ignore. The success and failure of every business start from the mind... when the mind is not well positioned, mistakes are possible. So having the right psychology for every business is very important. I don't know why the link you shared is not opening. Can you double check? I would have loved to go through the various contributions there. |
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It was interesting reading through those threads, it shows how much we have evolved in this journey. As expected, Bitcoin critics showed up to discourage people from buying Bitcoin. So from the initial price of $1.00 to our last all time high of $69,000. And it could be higher in the next bull run as there are predictions that we can reach as high as $100,000 bare minimum 2024-2025.
It is becoming increasingly difficult to know how high Bitcoin will go in the next bull run because a lot of factors are at play now. Unlike those early stages, the market has become highly liquid and to move the market by one pip requires so much capital. Nevertheless, it is certain that will see some growth in coming months considering rhe series of activities lined up that are all favourable for a bullish season. |
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Recently, I don dey observe random posting and even repeating of topic wey them don discuss before from especially our new colleagues them.
This wan you yarn here I say make I emphasize small. We don see threads like this wey dey encourage us to do our best, no loose guard and all that, so e no go make sense make you bring up something like this again. Continuous threads like this nai dey litter forum. E no mean weda the heading change form, but if the body dey hammer on the same tin you no come dey different from the people you dey try call out. Somebody tell me say when you see threads like dis waka pass, and I bin wan do same when I notice this tin you dey do. Biko help keep this space clean and e go dey nice if you lock this thread. Me I no really see anything wrong for the post... the OP put the post in a way to address the attention wey our local board don dey get for the forum, I no sure say anybody don post something wey emphasize that direction, if you see, no hesitate to share for me. Make we no over flog the issue sha, I understand wetin the OP dey try talk and that na make we no loose guard like you put am. Make we try show the world say we too get better gist for our board. Abi e no go sweet if oyibo start to learn our pidgin because of the vibes wey them see for here? |
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The first rule of using a machine is to know how to run it. If you have no idea on how to operate the machine, then you can do nothing. The same thing applies to everything around us, including Bitcoin learning. You need to know the concept of Bitcoin, how it works, what it was made for, what are the pros and cons of Bitcoin. You need to learn every good and bad things about Bitcoin in order to really understand what bitcoin really is.
Surprisingly, people that tend to hold Bitcoin more are those who understand it from the angle of business with little to no technical knowledge... just the basic knowledge of how to buy and store safely. If you ask them question about the technical aspect of Bitcoin, they will rarely give you a satisfactory answer. Theirs is to buy and secure their fortune because they understand how well Bitcoin will change their lives over certain period of time. People these days only join Bitcoin for making money. They invest in Bitcoin without knowing nothing about it. They may have heard that they can make money by investing in Bitcoin and that's why they are here. Not all of them, but most of them are. And this is very bad for the Bitcoin ecosystem.
I'm tempted to disagree with you a little because the motivation for the creation of Bitcoin was digital money that will not be controlled by a singe entity. So, if people joined Bitcoin because they feel they can make money from it, then they are very much welcomed and it is good for the Bitcoin ecosystem. Have you imagined what will become of Bitcoin if fresh money stop flowing into it? We need both the technical guys and investors to make the Bitcoin market liquid and better. We don't have to be emotional about it, without monetary gains, more than half of the people in Bitcoin will disappear. |
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Your story is really a touching one, however, you can not change the past. You joined very early and obviously, you invested money that you could not afford to lose that was why you panicked and sold even at a loss.
Going forward, I hope you are doing some refining to your approach such that you only invest what will not make you unease. I suggest you learn about DCA so you can better handle the emotional aspect of investing.
Finally, I think it is not late now.... this is the best time to buy because there are several activities lined up for next year that might see Bitcoin experience som growth in price.
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hi i wanted to withdraw crypto from bitget...is it possible to withdraw usdt or another cryptocurrency to another exchange for less than 10 dollars? i tried that with BEP20 network but i get a message that iwithdrawal minimum is 10 dollars?
I just wanted to transfer 3 or 4 dollars to another exchange to test it first....
You can withdraw to private wallet or even exchange wallet and that does not affect the fees. The withdrawal fees varies and depends on the cryptocurrency you are withdrawing. I have attached here the link to the breakdown of Bitget withdrawal fees for various crypto assets. I hope this helps. |
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your dream is to succeed and it's why you are fighting and struggling to succeed. that's why you are swallowing in pains and making personal sacrifices for success. But do you know that there are friends and relatives whose dreams and prayers in life is for you to fail.
If you are preoccupied with this mindset, there is high chances you will fail. This popular Naija cruise of village people have made people so lazy and irresponsible; blaming their failure and woes on innocent villagers. We gat do better bro... no body is winching you, money is the product of services you render.... There is no way you will proffer solution to real problem that you will not get paid... we should not dwell in the lie that there are people somewhere holding us down; I have grown above this. Many people give up if they work hard and they see they can not get the success, but even your hardest time you need to be motivating your self that you go fit do am, and you most succeed on what your chasing in life, they get some people where done see your feature done they Bright, they go start doing something that will fall you down but what i just believe, anything that God as said you will get he this life he won't pass you by, but dey get some people can make it dealer but definitely you most get am, now you mean say for this life dey know get people were dey do winching winching for people make dey fail, you dey lie many people no succeed because of there relative from the family is just prayer that will help you. Na those people wey dey find quick success. Check well, many great people today failed at some point in their quest so failure is not an end. Sometimes self it is when you fail you will realise some of the best way you would have followed. Unfortunately, there are people that give up over few attempts. I am not saying that motivation should take the place of wisdom; you must be wise to know if you are failing on something worthwhile so it does not become working hard in the wrong direction. |
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Even though our government is not trying much for the citizens considering the amount of confidence reposed on them, I think it will be unfair to blame everything on them. Insecurity is a major problem in many countries of the world, so it is not perculiar to Naija.
As for the NYSC members being kidnapped, all hands must be on deck to rescue them. Police need all the support of the villages with information that can help them in the rescue. It's really unfortunate but I have the feeling they will be released soon.
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In as much as I’m not not a big fan of altcoin/shit coin I still won’t use the word “never”.
There are times when a hype comes or you carry out a research for a shit coin and find some potential because of that you’ll use an amount you can afford to lose and when they eventually lost it you’ll sell immediately and make your profit, so sometime shitcoins still give us profit… the only time I’d suggest that someone stay away from is when they are new and know nothing about coins/token and don’t have a single clue on what to watch out for when conducting their research that’s when they should back off and stay with bitcoin until they are ready then they can diversify their portfolio.
I have done this a couple of times and it has never favoured me for ones. There was a time I invested as little as $20 into several projects and I couldn't recover my investment. I even bought Luna some weeks after the crash, hoping it will bounce back but to no avail. If altcoins work for you, then follow your style after all, it is all about making money. His choice of word might appear too strong but it is obvious he is coming from the angle of a bad experience with shitcoins. |
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Are you speaking from experience or narrating that of another person? If the later is the case, a link to article or material that can enable us get more details will be great. During the 2017-2018 bull run, crypto experience fraud from bitconnect, onecoin etc who disappear with billions of peoples dollars.
At bull run 2020-21we also experience fraud who will subsequently take advantage of people gullibility to ruin them, Luna, 3AC, Ftx, etc.
you should know that no matter the punishment for the person behind these scandals, there will always be bad actors in the crypto ecosystem at the next bull run .
We need to be sure where we put our money, no matter how solid the project or exchange looks like, if the founders mismanage people fund, we will be burned if we don't take the necessary measures, imagine those who believe Do kwon's Luna.
When they finish talking advantage of Bitcoin and altcoin all time high, they converted everything to ust to be able to earn free money 20% a year on anchor protocol.
And selll their ust at a loss because they where skeptical of depeg at the beginning and believe too much in Do kwon.
After having sold there ust's they took the remaining money to put in Ftx to loose in November because they where quite gullible.
It's just like profit from a bull run and be ruin by scammer or irresponsible player in the crypto ecosystem. Don't be too believing of anyone in the crypto ecosystem, especially with your hard earned money, tred with caution.
Obviously, you are not laying much emphasis on the right advice people need. First, it has been abundantly stated in several threads that centralized exchanges should never be used for storing funds as they are prone to hacks and other sharp practices. Secondly, it does not require so much digging to understand that most of the cryptocurrencies they advertise on daily basis are scams... so it is usually safer to consider investing in Bitcoin only. Therefore, the right advice should be to store funds in wallets you have the private keys only and also keep all your assets or a good proportion of them in Bitcoin. |
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Moreover, you might be right, but let's talk about those specific people that don't accept Bitcoin in their lives or to be part of their life. You know if someone doesn't like something, it is hard to persuade them about what they don't like, but on the other hand, their mind might change to accept Bitcoin, but it can be hard though, so the most interesting thing is that everyone must not invest in Bitcoin no matter how it is legit.
The reason why I said what I said is because, some might give excuses that they dont have money to invest in Bitcoin, some can still say there expenses are too much that they can't add another (investing) to it. those who believe that Bitcoin can be profitable if they hodl for a long period will invest without looking at there expenses, they will just reduce it and invest in Bitcoin, if you look closely, you will see that most of the investors today, are the risk takers and you know that everybody is not a risk taker.... So, Bitcoin is for specific people. I once thought that Bitcoin was for everyone, but I later found out it is not.
Bitcoin is still for everyone and for anyone, even if some people choose not to take advantage of it. Bitcoin is still available for everyone and anyone. There are some people who are going to take advantage of bitcoin (and getting into bitcoin) more than others, and some people have more disposable income than others. There are some folks with a lot of disposable income but they choose not to get involved in bitcoin accumulation, and there are people who have way less disposable income who do choose to get involved in bitcoin accumulation, and likely those who choose to get involved in bitcoin accumulation are going to benefit from the ongoing wealth transference that seems to be taking place through bitcoin. At first, I believed that Bitcoin is for everyone, so I created a thread tittle BITCOIN IS FOR EVERYBODY BUT WE MUST ACCEPT IT BEFORE IT CAN OURS, so now I think we are saying the same thing because I believed BTC is for everybody, and so I created that thread and most users didn't agree to what I was saying, (so if you check through the thread you will understand) and then I was like calming my self down, and now you have also said the same thing I once said. I took time to go through that thread but unfortunately, I really do not get in hindsight, the message you are trying to convey, so, you can as well add some clarifications in the following direction: are you saying that it is possible for the entire global population to start using Bitcoin? Or are you coming from the angle that anyone can use Bitcoin irrespective of age and educational level? I really want to understand the angle you are coming from. For Bitcoin to gain deeper penetration into the global population, we need more solution-based innovations such as the M-PESA that revolutionised the banking system of Kenya such that a large part of the unbanked population could covert their phone numbers to online wallet where they can receive money, transfer money and and even do these by simply scanning QR code. So, in my opinion, we are yet to get to that universal acceptance of Bitcoin, and the percentage of the world's population that is even aware of Bitcoin is still very small. |
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This does not come to me as a surprise as it simply means the government of the day does not know how to solve the problems of the country. Less than a year they took over government, they can scattered almost everything that gave people hope of survival. Inflation is on a steady rise and the currency is on a free fall against the dollar. Indeed, this is a very bad time to be a Nigerian!
On the other hand, what is happening now have shown us the importance of seeking for digital skills that can make us self employed because it is obvious the conventional jobs are nothing but living from hand to mouth.
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I think you are using the world 'cryptocurrency ' and ' coin" vaguely. If you want to encourage people to hold their Bitcoin, it is necessary you put it explicitly because many people use Cryptocurrency to confuse others into buying shitcoin.
If you have been around this space for a while, you will agree with me that a lot of people have suffered various degrees of pain as a result of buying over-hyped shitcoins. It will be totally bad to categorise Bitcoin with those worthless garbages as "coins" or "cryptocurrency". A clear distinction is very juch imperative.
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OK, but if we plebs buy Bitcoin NOW, and the recession does come and crashes all the markets, crashes the job market, crashes banks, depletes our savings, then I believe for most of us we will be forced to sell our Bitcoins at a discount. It's true especially to those people who have families to support/mouths to feed.
Perhaps many of us are hesitant to admit it, but the money printer and the government spending were probably the main catalysts of 2020's surge.
Is another full scale recession being expected? Because from present realities, a lot of countries are already in recession and there are those at the brink of depression. Do you think that if a full blown recession happens that Bitcoin will nosedive? I am curious to know your opinion about Bitcoin with respect to global recession. Remember that covid19 that destroy global economy, sent several businesses to oblivion yet Bitcoin prevailed. I have gotten to the point where I see Bitcoin as a safe haven in a world of uncertainty. Coming years will really be exciting for Bitcoin and those of us who are fortunate to embrace it early.
Is there really a way to use news to predict the price of Bitcoin? Have you tried it before and predicted it correctly through the news? Well, it is obvious you are suggestion panic buying and probably selling too as you will not hesitate to sell when the news does not seem favorable. In all honesty, this is akin to gambling!
Unfortunately, looking at the news to be able to predict Bitcoin price is not really necessary because, by the caption of this thread, we are buying and holding for long. Therefore, our main focus is how to accumulate as many Bitcoin as we can possibly get while being able to hold for long without being compelled to sell haphazardly.
Absolutely not, there is no way to correctly predict Bitcoin price overtime. While news items and technical analysis can provide into market sentiment, but they are far from fool proof. Technical analysis is not a perfect science, it is science of probability that relies on historical trends and patterns, which may not necessarily repeat in future. The most effective and widely recognized strategy is to accumulate Bitcoin by employing DCA , as frequently discussed here. Additionally opportunistic purchasing during significant dips can further lower average cost of investment. Many people spend too much time and energy on irrelevances when the truth is so glaring. Why will someone think of using abstract things to predict a volatile asset like Bitcoin? Simple analysis of Bitcoin performance over few years ago will show that buying and holding is enough to do the magic, no stress about the news, no sophisticated analysis... just simple buy and hold! |
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You are truly lucky to have won this even though it was a mistake. I just hope you will not allow this event activate your greed level because the outcome may be different if you do this intentionally.
I am glad you already have rules in place regarding the amount to play and number of times to play... I will encourage you to stick to those rules as that is what will guarantee sustainability. All the same, congratulations on this mouthwatering win.
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your dream is to succeed and it's why you are fighting and struggling to succeed. that's why you are swallowing in pains and making personal sacrifices for success. But do you know that there are friends and relatives whose dreams and prayers in life is for you to fail.
If you are preoccupied with this mindset, there is high chances you will fail. This popular Naija cruise of village people have made people so lazy and irresponsible; blaming their failure and woes on innocent villagers. We gat do better bro... no body is winching you, money is the product of services you render.... There is no way you will proffer solution to real problem that you will not get paid... we should not dwell in the lie that there are people somewhere holding us down; I have grown above this. |
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It is all about attention seeking with the intention to defraud people. There is a saying that "bad publicity is better than no publicity", so, I guess that is what most of them are doing... just to make headlines even though they know people will find out they are fraud.
In this age of social media, some people intentionally get involved in something amoral and terrible just because they want to make headlines... so I'm not surprised we now have many imposters claiming to be Satoshi.
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