Bitcoin Forum
May 27, 2024, 01:12:32 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 2 3 4 5 6 [7] 8 9 10 11 12 »
121  Bitcoin / Bitcoin Discussion / Re: Struggle now to invest in Bitcoin for a bright future. on: February 12, 2024, 10:36:23 PM

Many of us know about Bitcoin. But due to a lack of funds, we regret about Bitcoin investment. Many people, particularly those from low-income families, regret when we can't invest in Bitcoin. Though we can't solve this problem, we can struggle to achieve our goal.

For those who understand how important Bitcoin is, they might feel sad about not getting the chance to invest in it. Lots of folks really want to have some Bitcoin, but they don't have money to buy it. But here's something important to know. if you really want to invest in Bitcoin but you don't have money right now, don't worry! You can still invest later. Bitcoin is special because there's only a limited amount of it, and its value can go up and down a lot. So, even if you can't buy Bitcoin now, you might still have a chance in the future. Just keep learning, and when the time is right, you can invest in Bitcoin too!

Quote
For our daily needs, we must need money to survive. Sometimes we spend money on unnecessary things. So we can avoid spending unnecessary money because we can survive without it. And we can start investing in Bitcoin with that money. We have to find a solid income source, even if it is small. So we can go ahead with our bitcoin investment. If we struggle now, we may build a bright future. Even students could save some money from their daily spending and invest in Bitcoin.

Taking care of our daily needs is an important part of life, and feeding is one of the most important necessities for maintaining good health and wellbeing. The saying "health is wealth" is accurate because being unwell makes one feel like a living corpse. As a result, responsible money management becomes essential, guiding people away from extravagant purchases made purely for the purpose of appearing impressive.

It becomes clear  saving money for future purpose  is a wise decision. Given this, Bitcoin stands out as an appealing investment option due to its track record of producing long-term profits. Investing in Bitcoin also provides increased anonymity because of its decentralized structure, which keeps the value of a user's holdings hidden from prying eyes and strengthens the sense of financial independence and security.
122  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: February 12, 2024, 09:30:15 PM
Can Chelsea win tonight? I hope so but their job won't be easy at all. Seeing them desperate against Wolves in the previous game was really sad. Chelsea should be able to stay more solid in defense this time.
The first half of the match has ended, and Crystal Palace are already ahead of Chelsea. The surprising part is that Chelsea dominated the match in the first half, but they are having just one goal attempt, with zero shots on goal, It doesn’t really make sense. Seriously,  I don’t know if Chelsea will be winning the match or not. I no longer disturb myself with how Chelsea play, I no longer care if they win or lose. I won’t be surprised if Crystal Palace maintains their current goal lead or ends up scoring more goals before the second half of the match ends. Chelsea is not a club that we should have confidence in when playing against any team.

Chelsea  have managed to equalize the score, making it 1-1, their chances of winning the game significantly increased. This is mainly because Chelsea has been dominating the pitch, showing superior gameplay. However, despite their strong performance, they are encountering difficulty in breaking through Crystal Palace's defensive line. Crystal Palace is opting for a defensive strategy, making it challenging for Chelsea to penetrate and score more goals. Nevertheless, Chelsea's persistent efforts and superior gameplay suggest that they still have a good chance of overcoming Crystal Palace's defense and securing a victory.
123  Local / Politics and society (Naija) / Re: Nigerian System of Education on: February 09, 2024, 07:12:27 AM
Our system of Education is something else, starting from the primary system to the tertiary system. That of the the tertiary system their varieties of challenges it undergoes, for instance
 
* Over Population
* Outdated Curricula
* Lack of qualified faculty and equipment for studies
* Lectures Accepting Bribe (Sorting)

You've made valid points regarding the issues plaguing the education system in Nigeria, and it's evident that a significant factor behind these challenges is the ineffective governance. The root cause of all the problems you've outlined stems from the poor management by the government. If Nigeria had competent leadership, the issues such as outdated curricula, the shortage of qualified faculty and study equipment, and the prevalence of bribery among lecturers could be effectively addressed.

However, the government's failure to prioritize education has resulted in a vicious cycle of underfunding and neglect. The insufficient budget allocations for education prevent universities from acquiring necessary equipment for studies and hinder efforts to attract and retain qualified educators. Without adequate support from the government, it becomes nearly impossible to implement meaningful reforms that could propel Nigeria's education system forward and empower its citizens.




124  Bitcoin / Bitcoin Discussion / Re: Can bitcoin be stolen? on: February 03, 2024, 10:07:14 PM
So now the question is bitcoin safe from hackers?, can it be stolen?
With someone carelessness, Bitcoin can be stolen. Once someone is lost with his or her private key or seed phrases,someone Bitcoin can be easily stolen. But if your private key and seed phase are only known to you and nobody gets access to them, it is very impossible for anybody to steal your bitcoin. So the important thing to do to avoid having your Bitcoin stolen is to provide proper security for your Bitcoin wallets by hiding the privacy and seed phrase wisely in a location where nobody will get access to it, unless only you or the person trust and show where you hide those your private key or seed phrase.
125  Local / Nigeria (Naija) / Re: The 4W every newbie should know, so as to navigate your way easily on: February 02, 2024, 12:17:15 PM

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.
I agree with you that Bitcoin is the best coin that newbies should invest in because it is the only coin with less risk and is long-term profitable. Because of newbies lack of proper knowledge, they can't do their own proper research on different scam projects. I will give full advice to go for Bitcoin at first if they fully invest with their basic knowledge.

Quote
* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.
To make sure you don't face troubles with your Bitcoin investment, it's crucial to have a steady income, like money you regularly get. Investing without a reliable income might make someone sell their Bitcoin when they face problems. They could even sell it for less than they paid because problems can happen unexpectedly. It's like not knowing when something bad might happen. To be extra safe, having money saved up for emergencies is a great idea. This emergency savings can help fix problems and make your Bitcoin investment go smoothly. It's like having a backup plan for when things don't go as expected.

Quote
* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.
I can't fully agree with you that no better time to buy Bitcoin, bear market period is the best time for accumulation, but it's important to recognize that timing the market correctly is difficult. For us, the idea of Dollar-Cost Averaging (DCA) makes this procedure easier. DCA advises us to continuously invest a set amount over time rather than attempting to forecast market swings. This lessens the effect of market fluctuations, which makes it a useful and efficient way to gradually acquire Bitcoin. Therefore, you may more easily handle market volatility and gradually increase your Bitcoin holdings by implementing DCA.


Quote
*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.
When you start investing, it's crucial to remember something important that many beginners overlook. You see, when you put your money on exchanges, they actually have control over it. Imagine it like giving your toys to a friend to keep they can do whatever they want with them. Surprisingly, even run away! Just like what happened with FTX exchange, where people who trusted them lost their belongings. To avoid future heartaches, it's wise to keep your money in a special wallet called a non-custodial one.
126  Other / Beginners & Help / Re: What have you learnt from this forum that has actually saved/ you in real life. on: February 02, 2024, 10:55:26 AM

I really appreciate and have learnt a lot of comprehensive and accurate information that you would know are coming from experienced lips. Thanks everyone on this forum.

For me, this forum has been a priceless educational resource, offering a plethora of knowledge that is difficult to completely list as I jot down my observations. But of all the lessons learned, the most important one is about how important privacy is to one's own life. Before I became involved in this forum, I could never really grasp the idea of privacy. The exterior conversation was mainly on monetary benefits; coin investments and profit-making techniques were the main topics of conversation.

The mainstream narrative frequently overlooked how important it is to protect financial assets and personal information. This understanding has had a great impact on me, leading me to reconsider how I approach privacy and recognize its critical value. It is unsettling to see the general lack of understanding about privacy that drives people to keep their money on exchanges, ignoring the basic need of protecting one's financial and personal integrity, and minimizing Bitcoin to a profit-making instrument instead of realizing its wider ramifications.

127  Bitcoin / Bitcoin Discussion / Re: Is Binary Trade Better or Better to Buy and Hold Bitcoin? on: February 02, 2024, 10:32:12 AM
I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin. And read many websites and articles. After seeing everything and I have been around in the crypto world for a long time. I have experience on Bitcoin because Bitcoin 2022 was priced a lot. But now 2023 he is going to Bitcoin and at the beginning of this 24th and I am growing. For that I ask you for feedback if you give your valuable ideas then what is better for me because I have been in conflict with Aibitcoin and Binary Trade for a long time. But in many places I see that I have people and some they are making a lot of money.

Long term Bitcoin investing is thought to be a safer strategy that reduces stress and hazards. Early investors who bought Bitcoin at lower prices and stuck onto it over time have shown that holding onto it for extended periods of time may be a rewarding approach. These people have made significant gains, demonstrating the possible benefits of a patient investment approach.

Binary trading, on the other hand, necessitates in-depth expertise and steadfast attention, even though it offers regular reward potential. Binary trading is hard for people with busy schedules since it takes time and continual attention to be successful. If it is impossible to set aside enough time for consistent participation in binary trading, going with the more stable route of long-term Bitcoin ownership makes sense.

For those looking for a more laid-back and low-risk approach to cryptocurrency investing, the duration of Bitcoin investments has historically produced outstanding returns. The success stories of those who invested in Bitcoin early on and managed to hang onto their money are proof of the possible profits that may be attained by following a long-term and patient investment plan.
128  Other / Beginners & Help / Re: [Merit] Share your best posts/threads with Fillippone to be merit assessed on: February 01, 2024, 07:32:57 AM
Round 2

how valuable BTC has become overtime
Category : opinion.
Section : bitcoin discussion


I wonder if food price in your country have also
Category :  opinion.
Section : Economy>Economics.


when to invest in Bitcoin
Category : opinion.
Section : bitcoin discusses.

stop discouraging newbies from Bitcoin
Category : opinion.
Section : bitcoin discussion.

is it possible to build a career with Bitcoin?
Category : opinion.
Section : bitcoin discussion
129  Bitcoin / Bitcoin Discussion / Re: Why the rush to gain profit in crypto? on: January 30, 2024, 11:47:21 PM
A lot of people who always rush into the cryptocurrency industry and think they can make a huge profit in a short period of time are the set of people who did not seek knowledge before coming to invest in the cryptocurrency industry. And if someone lacks good knowledge about something, they will have no choice but to follow those people who appear on social media claiming that they are experts. I believe if someone has good knowledge about Bitcoin and the cryptocurrency industry, they will hardly follow influencers in making their currency investment decisions, but they will be aware that they do not have expertise about cryptocurrency.and Also, greed can allow someone to follow another person's decision about their cryptocurrency investments, like they need to depend on other people's decisions because they will never be satisfied with their own decision because of their greed. They will hardly value their own knowledge but only depend on other people's decisions.
 
 
 
130  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: January 30, 2024, 11:03:03 PM
Aston Villa 1-3 Newcastle united

This is a big disaster for Aston Villa at Villa park, this is the first surprise Aston villa received this season, Newcastle united has finally ended Aston villa home unbeaten with 3-1, am a little bit disappointed to see their performance like this. Aston villa have given a chance for Arsenal to take the third now Arsenal are 3 points away from Aston villa.
Aston Villa has been playing better than Newcastle lately, and I thought they would have a good outcome in their match. However, I didn't underestimate Newcastle's abilities against Aston Villa. I knew any team could win, but in my opinion, Aston Villa was the team to root for. Honestly, I wasn't surprised when Newcastle won the game by scoring 3 goals because I'm aware of their capabilities, although it wasn't what I expected.It's important to remember that in sports, any team can have a good day and secure victory,.
Quote
Luton Town 4-0 Brighton
Seeing this game wasn't surprised me at all because  Luton Town are very strong when playing home game, I know they are Capable of doing it because they are threatening to some big clubs, Luton Town really used an advantage to take the victory. I have confidence the Luton Town will be out of relegation zone.
I was really shocked when Luton won against Brighton. Even though I knew Brighton hasn't been playing well lately, I didn't think Luton would score four goals and Brighton wouldn't score any. When I was watching the match and Luton scored the first goal, I still hoped Brighton would catch up and maybe even win. But when Luton scored two more goals, I realized Brighton was in trouble. And then, when Luton scored the fourth goal, I thought Brighton had definitely lost the game.it was surprising because I expected Brighton to at least score a goal, but it didn't happen. Sometimes in sports, the outcome can be unexpected, and that's what makes it exciting and surprising
131  Local / Nigeria (Naija) / Re: Don't be tired of hodling that potential coins. on: January 30, 2024, 10:38:44 PM

The only thing that would make someone to sell his Bitcoin is maybe the person don't have other means of income. for Bitcoin holding to last, people must have other alternatives of making money  or els they might even sell off their coin do to hunger.
That's why it's always advisable to have something doing to have a backup sothat you wouldn't think of selling your Bitcoin for some petty demand. Bitcoin is too precious to be sold for peanut, except a life transformation issues.

To really enjoy keeping your Bitcoin for a long, long time, it's super important to have a steady stream of money coming in regularly, like from a job or something. Also, it's a great idea to keep some money saved up just in case something unexpected happens. If you're thinking about touching your Bitcoin investment, having a backup plan can help you avoid doing that.

Now, holding onto your Bitcoin for a really long time might not be as easy for someone who doesn't have a side job or a steady income. Imagine if there's a problem and you need money, it might be tempting to sell your Bitcoin when its price is low. This can happen especially during a time when the overall market isn't doing so well.

But If you have some extra money saved up for emergencies, This means if a problem pops up, you can deal with it without having to sell your Bitcoin. So, having that safety cushion is like having a superhero shield for your Bitcoin investment, helping you keep it for the super long haul!
132  Economy / Speculation / Re: Buy the DIP, and HODL! on: January 30, 2024, 01:39:49 PM
If there is no different funding then Bitcoin will be held off for a long period of time.

If there is no emergency funds available there is no way you can hold your bitcoin for a long time. That's it has been emphasized several times that for you to hold bitcoin for long as an investor make room for emergency funds.

An emergency savings is not what we should use to play when we really want to hold our Bitcoin investment over a long period of time. A lot of people always have plans to hold their Bitcoin for a very long period of time, but because of emergency savings they lacks side is what makes them sell their Bitcoin or sell part of their period when the problem arises. So for a smooth Bitcoin investment, we should always know that emergency savings are always necessary, and we should alao be trying to continue saving for emergencies that may arise in the future and as we continue accumulating more Bitcoin.
 
 


133  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: January 28, 2024, 04:42:20 PM
Norwich played well tonight even though they came as guests and the result of 2-1 in my opinion is quite good and in the second half there is still a chance to continue to get goals in this match even though it is difficult, Liverpool really dominated the match tonight unfortunately they fielded their important players to look for victory in this match. It looks like there will be additional goals from Liverpool. Hopefully it will be a satisfying match for everyone..
Its 4-1 already and as usual Liverpool showed they are ruthless even in the FA cup. Norwich are not playing bad, they started well by equalizing a 1-0 lead to make it 1-1 but Darwin Nunez scored for Liverpool once again to extend his goal scoring tally and also extend the lead to make it 2-1.

Liverpool are showing no signs of slowing down and it seems like they have make it to the next round, not long ago while typing Norwich just pulled one more back and it’s 4-2 now i hope they can fight their way back, it will be difficult but even if they are eliminated they earned my respect for fighting back the premier league leaders.

The match is still ongoing and there every possibility for more goals.


The game just ended, and Liverpool won with a score of 5-2! Now, Liverpool gets to go to the next round, which is super exciting. Right from the start of the game, it was obvious that Liverpool was going to do really well against Norwich. They made it look easy, and that's why they scored five goals. But, honestly, I didn't think Norwich would even have a chance to score 2 goals against Liverpool. You see, Norwich hasn't been doing as great in their domestic competition. They're not in the top five in the championship league competition table.So, it was a bit surprising that they managed to score twice. Overall, Liverpool played amazingly, and it's cool that they're moving on to the next level of the competition!
134  Economy / Gambling discussion / Re: Italian League Prediction Thread (Serie A) on: January 28, 2024, 02:43:52 PM

Even though I lost my bet, I think Juventus played very well, even though the result was a draw, at least they didn't lose points in yesterday's match against Empoli, playing with 10 players was good, they didn't lose points or lose, it's not easy to play with 10 players to win the match, although Juventus had to win yesterday's match. I think they will definitely regret this unsatisfactory result, but I believe they will recover better, at least maintaining their consistency so as not to experience defeat or lose points.
Juventus could win the match if they have 11 players on field. Milik made stupid foul and was sent off too early in the match. His mistake brought big disadvantage to Juventus whole team in last 70 minutes of the match. It is not too bad when they failed to gain 3 points with only 10 players on field but generally, this draw will put Juventus at a situation to fall to a second position again if Inter Milan win their two extra matches to create a 4-point difference against Juventus.

Juventus have easier fixture than Inter Milan but they must be careful in every match if don't want to turn this advantage to nothing at the season ending.
Yesterday, people thought Juventus would win, but they didn't. Everyone believed Juventus would get three points because they've been playing great. They wanted to catch up to Inter Milan in points. Sadly, the match ended differently than we hoped. A player got a red card, which made it harder for Juventus. But in football, mistakes happen.


Even though they drew, I don't think it will make Juventus sad. I believe it will give them more strength. There are many more games to play, and they can still do well. It's like when we make mistakes in games, we learn and try harder next time. Juventus will do the same. They won't give up. The draw is just a small pause, and they will keep going to win more games.
135  Economy / Speculation / Re: Buy the DIP, and HODL! on: January 25, 2024, 11:28:37 AM

In other to be determined to succeed as an investor it requires discipline because if you are not disciplined then you can't really hodl for a long term because sometimes there might arise some circumstances whereby you are left with no choice than to tamper with your holdings maybe simply because you don't have an alternative funds that can sort issues at any challenging time and as a long term investor who is determined to accumulate as many bitcoin in your portfolio you ought to make sure that your income doesn't only generate from one source such that in a situation whereby the basic income you used for DCA doesn't come as regular as before, you can easily switch over to your other source of income to continue the DCA pending when your normal source of income reinvigorates.

Maintaining a disciplined approach is crucial in the world of Bitcoin investments, but it's important to recognize that discipline alone may not always prevent individuals from tinkering with their investments. Life can throw unexpected challenges, especially those related to health, and even the most disciplined person might find themselves compelled to tap into their Bitcoin holdings if they lack alternative financial resources.

However, it's undeniable that discipline plays a significant role in sustaining a robust investment strategy. Even when faced with minor challenges, a person with strong discipline can resist the temptation to hastily liquidate their Bitcoin assets. For a truly serene and steady Bitcoin investment journey, it's advisable to cultivate diverse sources of income and maintain a substantial emergency fund. This dual approach not only provides financial stability but also empowers individuals to weather unforeseen circumstances without resorting to disrupting their long-term Bitcoin holdings.

People can have a cool, collected experience when investing in Bitcoin by creating a financial safety net and securing steady income streams. This will allow them to hang onto their assets for longer, which will ultimately lead to a more successful and long-lasting investment endeavor.
136  Local / Nigeria (Naija) / Re: A year profit investment to choose on: January 25, 2024, 08:39:21 AM
Investing in Bitcoin seems like a smart choice to me because it feels like the investment I know the most about. I like the idea of putting my money in Bitcoin because it seems simple  just buy it and keep it until it's time to sell and make a profit. Plus, I think it's the easiest investment among the ones I've looked into. Privacy is important to me, and Bitcoin seems like a secure way to invest without worrying about my personal information. I've heard about something called "halving" coming up, and it makes me think that Bitcoin could be the best investment this year.I believes much in bitcoin that will make my money double or more! While other investments could also be good, I feel more comfortable and confident with Bitcoin. It just makes sense to me.
137  Local / Nigeria (Naija) / Re: Is Investing into crypto really safe? on: January 25, 2024, 07:55:59 AM
Crypto currency investment na risky kind of investment, because Several risk dey associated to this kind of investment, crypto currencies dey very volatile, come dey make crypto investors more vulnerable to losses,  but most persons no dey reason am , them invest in am heavily and most of them done cash out, and still most of them still loose money, crypto investment fit profit you or fit make you loose money before you close eye open, because the price fit climb or drop before you close eye open. E better to take the risk, but take the risk responsibly.
.
Investing in cryptocurrencies involves taking risks, but it's important to understand that all investments or businesses come with their own set of risks. In the world of cryptocurrency, there are thousands of different coins available, and new projects are being launched every day. However, not all coins carry the same level of risk. Choosing a good coin wisely is crucial, and this requires having proper knowledge of the cryptocurrency industry before diving into investments.

Let's take Bitcoin as an example. Despite its volatile nature, Bitcoin doesn't experience sudden drops like some other coins. Throughout its history, Bitcoin has shown resilience, recovering even after a significant price drop over time.

This principle applies to other types of investments or businesses as well. Without a good understanding of the business one intends to pursue, there's a risk of ending up in a high-risk venture. Consider poultry farming, for instance. Different types of birds carry varying degrees of risk. A poultry farmer needs to be aware of the differences between chickens, ducks, or turkeys in terms of the risks associated with each type. Choosing a bird that is less risky is crucial for those looking to invest in a poultry farm.

In essence, whether in cryptocurrencies or any other business, informed decision-making based on knowledge minimizes risks and increases the likelihood of success.
138  Economy / Speculation / Re: Buy the DIP, and HODL! on: January 24, 2024, 09:20:42 PM

IMO funding your emergency fund should come first. We should only invest once we have saved enough money for emergencies to cover future expenses for at least six months or a year. If you lose your job or the price of bitcoin goes down after you have invested, you won't have anything left with you. However, there might be adjustments to plans along the way. if you see any opportunity that you are certain will give you enough money if you invest in it, then it is worth taking the risk.

There is absolutely nothing wrong with what you say because if someone already has mature enough intentions and planning for long-term investment, of course the funding must also be mature enough. As you said, someone must have an emergency fund which must be prioritized as the main point before funds that will be used in their own investments for the long term. Because it is also very possible for an investor who invests in Bitcoin not to withdraw the funds that have been invested when market conditions become bad or when the price of Bitcoin itself experiences a correction like now.

So I think that's right, because that's what should be provided first before someone immediately takes investment steps with a simple plan, but not with sufficient consideration. I often liken it to a long journey with the preparation of two provisions that must be separated first before they are actually used in different places. So in this case the emergency fund is the main provision and investment funds are the second provision so that an investor can carry out his investment with enough discipline in something.
How much of emergency funds do you think will be first reached before then planning on beginning one's investment budget. This could be from your own perceptive but I see it as being a waste of time, where as I know how much of Bitcoin I must have loaded in my portfolio.
@teamsherry on his opinion decides to load his emergency f
unds for a six month space, do you know how much dips, call it a significant entry price that one should have DCA during that time.

One thing we should know, even in the process of saving that emergency funds, we still have to face certain problems which means we also have to alter the loading up of the emergency process, like still taken money from their to solve some life challenges.

I believe money from your cost of living has covered a lot of expenses and for the emergency fund is just there to cover up little more expenses, so why not convenient doing both.

If you wait until you have a comfortable emergency fund that will be enough for you to take care of things when the need arises, you won't be able to invest, to me, I don't think that there is any amount that we should have before investing, beside an investor should not think of being alright financially before making investment move, the only aspect one should consider is how much that is coming in daily, weekly and monthly after this check, the money should be divided into a segment, the one for emergency stuff, other needs and the investment itself, with this idea one can start from somewhere and never think of withdrawing his or her investment when fully involved.

To ensure a smooth Bitcoin investment journey, it's crucial to set aside some extra money for emergencies. This emergency fund acts like a safety net, so if unexpected problems come up, you won't have to sell your Bitcoin hastily to tackle those issues. The reason having this emergency savings is super important is that you want to avoid selling your Bitcoin at the wrong time; instead, it's better to hold onto it until the market is favorable for selling a portion of your Bitcoin.

Now, you might be wondering, how much money should you save for emergencies to make sure you never feel compelled to touch your Bitcoin holdings? Well, it's a bit tricky because future problems could be more significant than your emergency savings. One effective strategy to handle this is by using the Dollar-Cost Averaging (DCA) method. This means regularly buying Bitcoin, buying weekly or monthly, and simultaneously setting aside a portion of your funds for emergencies also. This way, you're steadily accumulating Bitcoin without getting distracted or feeling pressured to sell during challenging times. It's like building a financial safety wall to protect your long term Bitcoin investment journey.
139  Economy / Economics / Re: Imagine African countries using Bitcoin to pay salaries, on: January 24, 2024, 08:16:00 PM

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,

Many governments in Africa are finding it difficult to adopt bitcoin and talk of paying their workers in bitcoin. I don't even think that even countries that have adopted Bitcoin will plan on paying their workers in bitcoin. I don't really think it will make more sense for any government to be paying their workers in bitcoin. Due to the volatile nature of bitcoin, the price is always fluctuating, so if workers are paid in bitcoin, it will affect some workers because some of them may lose money in the bitcoin market, which is not stoppable.
 
And even in some countries, governments have to start paying their workers in bitcoin. I don't think it will start in African countries because I believe the rate of internet ignorance is very high, and if possible, any African country will start paying their workers; it will not be in this current generation, it will be in a generation with some level of ignorance in African countries.
 
In short, I don't think Bitcoin was created to replace fiat money; it was created for the purpose of privacy, and I am sure people's privacy is what governments don't really want, so I think it will be so hard for the government to pay workers in bitcoin.
 
 



140  Economy / Speculation / Re: Buy the DIP, and HODL! on: January 23, 2024, 11:01:22 PM
Have always thought of this idea and why will anyone want to withdraw their money from bitcoin investment cause it sounds strange and at the same time it's likely that the money used for their investment was met for something else, with this kind of strategy and mindset how will the investment stand for long. People usually make this mistake when investing. I believe they see bitcoin investment as gambling where you stake your money and it's either you win or lose cause why will anyone want to invest in bitcoin for short term when they fully know bitcoin investment is for long term.

Many people dive into Bitcoin investment without really grasping how it works. Some end up selling their Bitcoin without holding onto it for long because they lack a proper understanding of Bitcoin investment. These individuals don't often have a plan to hold their Bitcoin for an extended period, thinking it's a quick way to make money.

When you lack understanding about Bitcoin investment, they wouldn't make good plans for their Bitcoin investment. This is why many newbies invest any amount they have with them, even if it's money they might need in the near future they don't always care. They like taking risks, and when they need the money, they go ahead and sell bitcoin and withdraw their money even at a loss when the price is down.

However, those who understand Bitcoin investment are more likely to have emergency savings, ensuring they don't need to sell their Bitcoin investments hastily. Having a good knowledge of Bitcoin helps in making informed decisions and holding onto investments for a longer period without succumbing to the temptation of quick gains or immediate financial needs.
Pages: « 1 2 3 4 5 6 [7] 8 9 10 11 12 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!