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May 25, 2024, 01:15:09 PM *
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121  Economy / Economics / Re: Debt Management. on: May 09, 2024, 02:21:23 PM
This could all be avoided if we just never had debt in the first place

let's face it many people get debts for things they don't really need they just want to buy it but they cant afford it if they were to pay it as of the moment which is something we should really avoid doing

we should already save money, cut on expenses and make budgets before we even get into debts
You are right about not involving in debt at all but what is there is that we do borrow some times not because we don't have money to sort our bills, but for investment purposes. One can get a contract and the nature of the contract may require you to use your personal funds and execute the project before the company or organization will pay you so in that situation, if you don't have money you can borrow in other to clear the project knowing fully well that after the project your money with be paid immediately.
You are correct, but if you find yourself in that situation and you don't have money to execute the contract, don't go and borrow money to execute the contract because such contracts usually take time before they can pay you the money assigned to that contract. If you don't receive the money for the contract on time, you will find it hard to repay your debt when the debt is due for repayment because the money for the contract that made you borrow money hasn't been paid to you. Just allow someone else who has enough money to take the contract so that you will not find yourself in difficult situations or trying to get money elsewhere to repay your debt so that it will attract extra interest.
I understand the fact about what you are stating but it depends on the kind of contract that is being given to you and the calibre of person or organization because my dad was awarded a contract by an oil company in my state before and  he was given a work order and the description of the quality they want the job to be then they reached an agreement that he would be paid after the job have been executed and inspected so he went and borrowed money from a cooperative organization and did the job perfectly so after the company paid him the agreed amount for the job they also added a thank you bonus (extra money) for doing the job to their standards he then repaid the cooperative he borrowed the money from and had some good profits left with him.

What am trying to say here is that you can't just accept a contract that you don't know the capacity of the company or the individual awarding the contract to you and when doing a job for a company or an organization you have to do it to the best standard so that if such a contract becomes available in the future again they can still award same contract to you.

Another thing you need to understand is that life is about risks so when you see some risk that there is every possibility of making profits if you borrow money, do it, if it works you claim the glory and if it also doesn't work you bear the brunt and move on even if it will be hard for you to recover at that material time. If you don't take some certain risks in life you may be stagnant and may not experience any positive growth in life.
122  Economy / Speculation / Re: Buy the DIP, and HODL! on: May 09, 2024, 12:05:44 PM
What is the stress in buying bitcoin on a weekly or monthly basis utilizing DCA method? It's not like doing a hard job, for crying out loud I'm not even going to pick a pin. All I need is my device and a stable network and it won't take more than 5 minutes to set up my buy order if I am buying from a centralized exchange. Bro there is no pressure there, not that am doing it under duress or gun point, so there is nothing to worry about. So are you telling me that people who invest in bitcoin don't have other real life business that they are managing, if that's your thinking then you are wrong. I can invest in bitcoin with different strategies and still run my real life business without any complications. Many people are doing it. We are not sitting down and breastfeeding our bitcoin investment, so I don't see  what will cause me any unrest. I don't really understand what you mean by if I can't meet up the market. If my funds are available I will surely meet up, because bitcoin never sleeps.

Just that you misinterpreted my angle unrest is the financial stressed up where one will be struggling to meet up the funding as others responsibility will be calling to cut there share on the income you receive as many but where as the income is sufficient I think all you need is dedication, beside we have some individual difference's in regards to self discipline and fulfilling task what seem difficult to carryout by A may be very simple for B.
wether you choose to invest in Bitcoin or not, pressure and what you call unrest will certainly come. It's very much a part of life and you have to always have that at the back of your mind. What's expected of you is to make the right plan that will protect your investment in times of those unrest and that's why we always talk about keeping our emergency funds that will become of use at such instance.

As long as you're holding for the long term, there will come moments when you will fall sick, become a bit financially down, face a bill that's above your budget or face unplanned event that's going to outweigh your income and in those instances, your emergency funds should come through for you and after you've past those momentary set back and things goes back to normal, you can still to add up to your emergency fund such that it gets back to an amount that's comfortable for you. And regardless of the individuals ability or inability to coping with financial setbacks,  the general knowledge is that set backs is part of life that can't be avoided but planned for such that when they eventually come, it doesn't meet us unaware and end up distorting all our plan. If you are selling your holding because you are sick or you're facing a minor challenge, then you're definitely not ready for long term holding.
You really tried in giving a concise explanation to him and just like you said whether anyone chooses to make investments or not there will always be times when things will be rough and difficult or a time when your earnings may not be coming as before that is why we have to plan with the little we have because the main reasons why we are making these investments is to have an easy way in the future when things may not really be working as it use to.

People should have this mentality of forgetting about any amount they used for investment within the short run and be more concerned about how to increase their earnings in order to back up their investments because if you don't remove your mind from your investments, you will keep on having access to use it all the time and before you know it, all your holdings are gone which is a very wrong approach during investments. I used to set an amount that stand as the least I can get like if I have like $500 in my account I do feel like am broke and I don't touch the money except I have been able to get a way of earning again, I prefer borrowing from friends than touch that amount that I have kept for future purposes so that is also same way investments should be followed and bitcoin investment is something that has every possibility of gaining in the long run so halving a reserved and emergency funds to back up your investment in order not to touch your holdings is important.
123  Bitcoin / Bitcoin Discussion / Re: Accumulating Bitcoin or trading Bitcoin which is more wise to do. on: May 09, 2024, 04:12:45 AM
Unless you consider yourself a good trader, I would stick to accumulating Wink

There is no good trader anywhere even though they make profits most of the time but some times they run into serious losses and recovers again and keep on trading. Basically trading is a game of emotions and if your emotions is not that strong never enter into trading at all so that you don't get severe heart injury as a result from shock you could experience sometimes why trading and you encountered losses. Buy, accumulate and Hodl Bitcoin and be free without having to make checks at every intervals waiting for or using signals of which some are even misleading.
124  Other / Beginners & Help / Re: A person's browser history is a window into their online Identity. on: May 08, 2024, 10:37:44 PM
Basically i don't keep my browsing history for too long because it slows down the effectiveness of the browser so after leaving my browsing history for like a week or two I do clear everything off including my passwords, cookies and cache and when I do that the browser becomes fast again. Don't think there's any need to leave the numerous past browsing history, if you open a page and you wish to access it later on in the future bookmarking it is the best way or to just save the page and access it whenever you want to instead of leaving the browsing history without clearing them off.
125  Other / Off-topic / Re: Just wanna tell you people to beware of fake friends online on: May 08, 2024, 09:56:08 PM
Making friends online is not a bad idea if they are productive and also involves themselves in productive stuffs online but you should be careful with the kind of friends you make online because some can disguise as good people just to earn your trust in them and when they find out that you truly trust them, they will do you unimaginable things and since they are just your friends online they can decide to cut communication with you and you will regret it all your life so never trust people you meet online except you have met them facially with a convincible character that they possess and you will take your time to scrutinize them and know the kind of person they are before trusting them.
126  Economy / Gambling discussion / Re: UEFA Champions League 2023/24 Season on: May 08, 2024, 08:55:16 PM
Bayern Munich finally scored a goal and made the score 0-1 and the goal came from Alphonso Davies' hard kick, I think this match was really a very interesting match. And I'm sure Real Madrid will score because there are more shots on Bayern Munich's goal, and Bayern Munich goalkeeper Manuel Neuer is an experienced and very good goalkeeper who makes it difficult for Real Madrid to score goals and is always thwarted.
Real Madrid should play Luka Modric because he is a very influential player, and I hope this match ends in a draw so that there is extra time and I can enjoy this great match more.
Amd now it's 1-1 courtesy to a goal by joselu, and this goal was well expected because the pressure was just too much and finally they yielded to the pressure but irrespective of the equalizing goal from Real Madrid, Bayern Munich have actually played very well and deserves to take this game to additional extra minutes. But truth be told, I really expected Real Madrid to win but it seems they will be needing another additional 30minutes to decide that date.
Joselu have just scored the winner for Real Madrid to make it a brace for him this night, what am epic match, Bayern Munich players will really cry in this loss because imagine winning all the way from 68th minutes to 88th minutes and Joselu just broke the heart of Bayern Munich. Such an unfortunate night for Bayern Munich because they almost felt that they have qualified for the finals only for Joselu to end their dream within an interval of 3 minutes, the first was 88th minutes while the second goal was 90+1 minutes this is really hard for Bayern Munich to bear but they need to accept the outcome of the game.
127  Local / Nigeria (Naija) / Re: A very good speech concerning Cryptocurrency. on: May 08, 2024, 07:48:50 PM
~snip~
I also believe that CBN is the major threat to cryptocurrency now because they are the ones feeding the Federal government that crypto transactions are the cause of Naira devaluation but if a bill can be passed to supercede that of the CBN which I still feel it will be impossible because the CBN are working in alliance with the federal government so such bill may not be passed.

The CBN moving to give FINTECH directives not to allow their customers perform crypto transactions is laughable because just like I said in the other thread that Nigerians in the crypto industry have grown to a length that the decision of the government cannot really hinder everyone from performing crypto related transactions.

We all already knew that the naira have been going through manipulation by the federal government for a long time now but making look like crypto transactions is the cause of Naira devaluation is just nothing but making a case where there is no case.
128  Economy / Gambling discussion / Re: UEFA Champions League 2023/24 Season on: May 08, 2024, 11:04:13 AM
Great job by Dortmund, but it was really intense...  Sad  PSG were once again on one of their unluckiest days. I thought it would be different this time but they had many shots hitting the post.

Dortmund normally don't have a good defending. This is the same for like many years. Their not conceding a goal in this matchup shouldn't mislead people because of that. If PSG got more lucky with those shots I mentioned the final result might have been way different.

But of course there is no meaning in discussing maybes from now on.  Grin  After 11 years Dortmund are back in another finale.
Dortmund caught everyone by surprise yesterday after they made judicious use of their opportunity and scored but on a serious note, Damn PSG was very unfortunate in their returning leg against Dortmund because you can imagine those too many times the ball hit on the woodwork that was really a terrific moment for PSG because they actually played their best but at last they ran out of luck and were defeated by Dortmund both home and away. This is the happiest moments for Dortmund because they are not going to feel too bad that they didn't perform too well in the Bundesliga. Dortmund don't have that concrete defense but I was shocked to see their defensive midfield trying their possible best to defend after they succeeded in scoring PSG. Congratulations to Borussia Dortmund for being the first team to make it to the UCL finals this season.
129  Local / Nigeria (Naija) / Re: Centralized Exchanges already violate customers privacy right by asking for KYC on: May 08, 2024, 10:43:03 AM
Why exchange go collect kyc from customers in Nigeria when their are not licensed by government?

Waiten them dey use the kyc documents for and who authorised centralized exchange to do kyc for their customers when the don't have licensed which AML are their trying to protect?

Doesn't matter what jurisdiction you're operating, the AML act must be implemented if you're running a financial institution unless you want to run a Non-KYC platform( less safer) . KYC protects both the institutions and the customers from fraud and money laundering.

KYC on CEX is Sacrosanct; it's a first step towards playing safe and keeping records for the government. KYC protects you from being leaked to dirty criminal Money since it's almost impossible to launder money.

If you open an online store do you go about looking for license from each country before you sell to them? No, it's their duty to come to you with their local regulations and tax procedures and if you don't like it, you stop your services to their local. Simple.

You have given an accurate answer here because licensed or not doesn't deprive a platform to perform KYC on their customers because KYC is also what gives their customers the benefit of doubt that they are not some kind of scam site and boost customer's confidence to know that their personal information is in their database in a case of fraud or scam, it can be traceable more especially if it involves a huge fraud. However centralized exchanges can still be traced by the government if they want to, though it still requires some kind of authorization by the government to collate the information of the citizens of a country that are using their platform so that they don't infringe the privacy of those individuals without the government knowing after all it's the government that have the data of the various documents and personal information used to undergo KYC. This will also help in a case of forging KYC documents the government can step in and do an authentic verification.
130  Economy / Speculation / Re: Buy the DIP, and HODL! on: May 08, 2024, 07:13:35 AM
Reserved

I have seen you do something like this before and I thought it was a mistake or some network error from your browser but you making a repetition here makes it obvious that it is a deliberate act and I don't know the reason why you choose to reserve this space but I urge you to desist from this act.

..
My apologies if this may be causing any form of inconvenience or if it is breaking any rules...
Any yes, you're right that this is either caused by a mistake or an error in my browser network. Sometimes I submit a reply and the browser network takes time to load this content and sometimea it is successful without indicating and sometimes it's unsuccessful, so I'll need to send it again for the second time, Hence the repetition and I find it impossible to delete the other one. I'd really like you to tell me what I can do in cases like this to avoid the repetition cos I obviously can't leave a blank page nor delete the post. If there was another way, I honestly do not know as I'm still relatively new and trying to navigate my way around this forum. So please, why don't you help me out.

I actually don't want to involve myself in an argument with you all am saying is for you to be careful at your own detriment because checking at the time frame between which you make the posts doesn't show any sign that it is a browser error even if it is you have to consider installing a new browser to avoid future reoccurrence. My candid advice and it's for your own good and to avoid your account being tagged.
131  Economy / Speculation / Re: Buy the DIP, and HODL! on: May 08, 2024, 04:16:14 AM
Reserved

I have seen you do something like this before and I thought it was a mistake or some network error from your browser but you making a repetition here makes it obvious that it is a deliberate act and I don't know the reason why you choose to reserve this space but I urge you to desist from this act.

..
132  Economy / Speculation / Re: Buy Buy Buy or Sell Sell Sell? on: May 08, 2024, 03:20:14 AM
This year we already had several new ATHs between $69k and $73,794, so are you waiting for more?

If you are merely waiting for a new ATH, then how are you going to know that it is enough?  and why would you necessarily hold your value in dollars rather than holding your value in bitcoin?

Yes you are correct we have already achieve new ATH for the year 2024 but there are more chance to achieve more although this is on base that positive news comes up then it would really effect the market so easily. Though since we had already achieve ATH for year which the price touches $73k was at a cause of the ETF approval which many of us knew about it that was why it seems that bitcoin didn't follow it's historical data, because usually when halving passes the next is to carefully monitor the market while we gradually moved to the next year to achieve a new ATH.
Saying we have achieved a new ATH of 2024 makes it looks like ATH is created every year but I want us to understand something, the market is determined by itself whether the price of Bitcoin will soar high or reduce and it is the price movement that will lead to creating a new ATH and since there is no much investors coming in makes the market to look stagnant and revolving within some price limits and falls. Even if the approval of Bitcoin spot ETFs made bitcoin achieve a new ATH before the halving but yet another new ATH may not be created again till after the bull market so there is no need to hope on Bitcoin reaching a new ATH again as you can just HODL your Bitcoin whether a new ATH comes or not but since your plan is to hold for a long term.
133  Economy / Gambling discussion / Re: UEFA Champions League 2023/24 Season on: May 07, 2024, 10:56:53 PM
PSG was eliminated by Borussia, what was thought impossible happened.
Congratulations to Borussia Dortmund.
As expected, Dortmund became the Bundesliga representative in the UCL until the final. This is not luck for Borussia Dortmund, but is the result of their hard and smart work in beating PSG. PSG itself really dominates the match, it's like Dortmund. However, Dortmund took advantage of the opportunity as effectively as possible, using a very significant counter attack. And finally, silencing PSG elegantly.
This is what happens when a team is overrated and the other underrated because everyone was thinking that PSG will also be lucky as they were when they met Barcelona but Borussia Dortmund proved them wrong and silenced them and moved to the finals of the champions league, I like what happened in tonight's game so that some people will stop overrating a particular club simply because they have more experienced and quality players than the other. Congratulations to Borussia Dortmund for making it to the finals, they fought so hard for this and their efforts didn't just go in vain.
134  Local / Nigeria (Naija) / Re: As a newbie to crypto currency on: May 07, 2024, 10:16:31 PM
Most newbies are always enticed into trading even when they don't have adequate knowledge of what trading is all about even with the demo account you talked about, it is just simply the more you look the less you see because the trading may not actually work same way as when using the demo account and when doing the real trading with some money.
Trading drains time and the mental health of traders because it's not easy to always monitor the market and to get the right signals to know when to trade. I don't discourage anyone who is into trading if you know the right strategy to follow to make some profits while trading but I prefer hodling to trading because you just invest and leave your investment for a period of time when you must have gotten some profits and can decide to sell.
135  Other / Beginners & Help / Re: After Joining as a beginner what keeps you going on this forum? on: May 07, 2024, 09:47:33 PM
Good day my colleagues here on this crypto space.
As a beginner or first timer on a forum like this it's not Always easy to keep up actively with the activities of the forum, we all can attest to that, we can also attest to the fact that at a point we felt like giving up, most times the activities of the day gets you exhausted that you won't even have time to handle your phone to either read, do research or make post especially at the beginning stage when the merits is not coming,
At first this forum is just a place where we come to share our individual experiences about Bitcoin and cryptocurrency with one another regardless of the fact that people earn here through signature campaigns but that doesn't mean we should not be committed to other physical activities that will earn us a living and in life you have to program yourself such that you will have time for every of your life activities either online or offline. There are some users here that comes to the forum within a particular period of time each day and apart from that time you will never see them online which means they are using those time they are not online to do some other things in their real life or on some other things online but may not be on the forum.

As a beginner, no matter how quality your posts are you shouldn't be thinking about merit yet instead you should be thinking of how to acquire knowledge from people who have been active and exposed about the forum and the discussions going on. You can also ask questions where necessary but not ecstatic questions.
136  Economy / Economics / Re: Take care of your money and learn to save. on: May 07, 2024, 12:45:31 PM

people who criticize are always the ones who haven't achieved more than you have. It's always that way when you have money, they come forward and be on your side but when you have nothing, you are set aside and even discredits your achievements.

it's best to just keep silent when you have money and never show them your success. not everyone on your side is your friend. sometimes they are just waiting for your failures.

Basically people tends to come closer to you when you have money go give out or if they find out that you are kind of generous and they will want to take advantage of your generosity but if they find out that you are not as generous as you used to be, they begin to withdraw coming close to you and this is very common among human like when things are going well with you every one draws near to you but when things are not going too well with you they will forget your kindness when you had enough that is why you should take good care of yourself and family because they are the people that matters most in your life. And moreover, doing things without others noticing or knowing about how you're doing is very good instead always wanting to show off one's assets or wealth just to attract prestige and respect from others is not necessary at all.
137  Bitcoin / Bitcoin Discussion / Re: Question to hodlers:How will you spend the money? on: May 07, 2024, 11:24:15 AM
~snip~
Though we can't hodl forever but when we consider the blocks remaining for the last bitcoins to be mined, investment more one Bitcoin will be more preferable than any other real life projects because one can basically sell part of his Bitcoin after recording huge profits in the long run and still continue by DCA to acquire more Bitcoins or better still wait for a dip to lump sum and HODL.

I don't mean that investing on real life projects just like the ones you mentioned is bad but while we are making investments we should be able to make sure that they are projects that is worth our efforts and money not some kind of projects that will collapse along the line.
138  Local / Nigeria (Naija) / Re: Federal Government Plans to Delist Naira p2p on Crypto Exchange. on: May 07, 2024, 10:46:31 AM
The telegram integrated wallets has p2p marketplace I don't know if it's open source or closed but I have a strong believe that's it's going to be the next big thing, the trading volume it's quite low but if the FG succeeded in delisting NGN from crypto exchanges the volume would start increasing...

If wallet starts integrating p2p marketplace on their app will the Nigeria Government able to penetrate?
I use to tell people that Nigerians have grown pass where the decision of the government will affect everybody because a lot of people know alternative to maneuver dey do things without the government knowing or even if they know they can't do anything so if they like let them shutdown all the whole crypto exchange platforms there will always be a way out.
139  Other / Politics & Society / Re: Violence is an essential quality of human life in building a developed society on: May 07, 2024, 03:07:16 AM
You're contradicting the whole thing fluctuating agitating to maintain peace and same time inciting necessary to recognize violence in the society.
I wouldn't want to say you're right or wrong but I'd only say that peace is priceless which means it's an ultimate possession that uprights humans kindnesses of living togetherly and happily as one while violence is destructive to human kindliness which erupts enemities and disasterous to the societies.

I also see some contradictions in his write up but to make it clear to OP violence shouldn't be the best option to peace in the society. I know that there are times when the only way peace can be restored in some certain situations is through violence especially in a state where no one wants to listen to each other yet I still do not see violence as a way of dialogue. People can actually settle their differences without resulting to violence because even if they choose to go in a violent way, a lot of things will be affected in the process and may not be restored back again after a dialogue so that is why it is not ideal to make violence as a way of restoring order in the society.

Just like you stated, violence results to negativity even after the parties in question must have settled their differences but the scare it will live can last for a lifetime that is why we should not result to violence because it causes some irreparable damages.
140  Economy / Speculation / Re: Buy Buy Buy or Sell Sell Sell? on: May 07, 2024, 02:33:21 AM
It happened to me recently. I bought bitcoin of 0.002335 with the some of $115 from someone and the price nod bitcoin was $63,248 and immediately i bought the coins, the price drastically reduced to $55,900 and I bought it for Short before so i have to change the short term to long term so if you are buying bitcoin, you have to put at the back of your mind that bitcoin is not a stable coin and it volatile in nature. And if you panic and sell at that time then bitcoin come up again then you will be at the losing side of the investment. Therefore whenever you are investing, you have to think of the risk management. Those who are buying with DCA also plan for long term and not for short term. And don't do panic selling and sell at the time when you have enough profit.
You see that is the reason why we shouldn't have short term mindset in the first place because even though you switched to HODL for long term due to the fact that your short term objective was countered because the price fell after you bought with the hope that the price will skyrocket immediately after buying, it's obvious you had a short term target and forgot that Bitcoin is a volatile asset that it's price can either fluctuate upwards or downwards at a particular period of time and i still put it to you that even though you diverted to a long term hodling, if the price skyrockets past the price you bought initially you will still have that feeling of selling because you may still be afraid of another dip again.

In a nutshell, what am trying to define is that we shouldn't have a short term mindset when investing in Bitcoin because even if you choose to divert to long term hodling, i doubt if you can be patient enough to allow your investment to have a good path because at some point you will still feel like selling after realizing some little profit so that is what short term investors does, it is better to have that long term goal so that you can allow your investment to grow enough before you can think of selling part of your Bitcoin if need be.
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