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121  Local / Nigeria (Naija) / Re: What is the situation of Cryptocurrency in Nigeria? on: May 29, 2024, 11:42:15 AM
The Central Bank of Nigeria initially prohibited banks from dealing with cryptocurrencies in early 2021, but later allowed some fintech companies to offer cryptocurrency services.

As I can remember, the federal government then only prohibited the commerical banks not to facilitate on crypto currency transactions such as the banks also serving as traders and vendors. The Fintech companies were only authorized to facilitate investors crypto trading such as exchange of assets to naira.
Sounds like you're not updated Op because expectedly, you should have also talked about the recent prohibition of the Fintech companies not to associate with the cryptocurrencies furthermore.


However, there have been instances of fraud and scams involving cryptocurrencies in Nigeria, so caution is recommended.

The federal government has never accounted any form of persons who had involved in fraud using the cryptocurrencies as a route. Our government is only acting anti because they knows how well the masses are achieving through the crypto markets.
122  Local / Nigeria (Naija) / Re: Have you seen where Bitcoin is used to make donations in fundraising? on: May 29, 2024, 11:16:29 AM
If in an event the host invites his fellow bitcoin investors to the program of course they could be possibilities of donations of funds with bitcoin.  That's literally because they knows each other and are familiar with the digital financial system.
Imagine asking a bitcoin novice to have you his wallet so that you can make your donation with bitcoin, I guess it'd sound odd to him.
However, I've been in several events such as birthdays and marriage weddings were committee of friends in the ceremony raised funds for their host using bitcoin.

While considering using bitcoin for fund raising, let's also consider the purpose for the raise of funds because of it's one which the beneficial needed it to execute an emergency need then it could be risk due to the volatility of bitcoin which it could reduce in value and such huge donated fund would be depreciated. Luckily for the beneficial a little amount of donated bitcoin could also appreciate higher in value at when ready to use the fund.
The advantage and disadvantage is clear but considering the disadvantage side should be more considered
123  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it worth to join airdrop? on: May 29, 2024, 10:56:20 AM
I think It is not worth joining airdrops, but you can join a few legit ones, if you can find some good projects. I have participated a lot of them over the past six months, but most of them haven't rewarded tokens. In fact, most of them turned out to be fake. So, I believe It is a complete waste of time and effort in joining airdrops.

While i don't mean to usher the Op to join the airdrop, I'd say it worth joining since his friends has been in the project. Atleast those this friends should be able to testify the reputability of the project so that he doesn't have those times wasted there. However, it's said to be a free project where you're only required to perform some common task as the without a fund involved.
So, he should take it for a try but he should also task himself on research about the project.
124  Alternate cryptocurrencies / Altcoin Discussion / Re: How are your meme bags doing? on: May 29, 2024, 10:39:07 AM
myself. What do you all think?

I don't do MemeCoins and if you who's into it is doing so well, congratulations and While I hold onto my reputation crypto coins, congratulations to me. I'm not an anti meme but learning about its high rate of volatility, it's feels fearful to invest on. Maybe even if I'd have to invest on it somedays, it's going to be like I'm just giving out to the platform with a potential to make profit and if it fades out so be it.
125  Alternate cryptocurrencies / Altcoin Discussion / Re: Meme Coins Resembling Lotteries in the Crypto Space on: May 29, 2024, 10:29:31 AM
Meme coins should be seen as gambling. That makes you right because they are just like lotteries which you can either win or lose money. But not only meme coins but also most other altcoins. As the price of meme coins are very volatile, you can also see many altcoins having a highly volatile prices. This is the reason you should use the money that you can afford to lose on them because they can either give you good profit or fail you.

You've said it all and who haven't given it a try and just relies on the social media and the hyping rumours would think you're an enemy to their progress if only you'd let them know that the reality potentials of the MemeCoins is equivalent to gambling.
Although gambling can be of 90% possibilities to lost while investing on the Memecoins could be 50/50 but that doesn't change the mindset, it's such as gambling because the volatility is extremely high that you can account to a total lost of zero profits and zero capital secured.
Let's not not be carried away by their hypes. So whoever interested of having its fund there should be ready for a jungle out because it doesn't feel emotionally good for Investors there.
126  Economy / Service Discussion / Re: I need hints about renting sig spaces on this forum. on: May 29, 2024, 10:13:56 AM
My question is I will like to know how this idea is beneficial to anyone, what is the gain of renting someone's signature space and how can one make the best of it?
If the person wear your signature, avatar and personal text may be included, your signature would been seen on all the posts of the person. People that is reading the post of the person will see the signature, avatar and personal text. There is a link underneath the signature which is not seen, if anyone click on it, it will take the person to your site as it is the link to your side. I will say you should see signature as advertisement.

You probably may have said it all. The thing is that every signature is assigned and designated to an avatar which symbolizes their firms and the need for signatures is basically for adverts just as the campaigns being run in the bitcointalk platform and its participants is running ads for the sites speculations.
127  Other / Politics & Society / Re: Supremacy of the constitution on: May 29, 2024, 10:03:07 AM
What is contained in any constitution should be followed or obeyed by all,both the government and the governed(the people).in this case,all the action of the government and those of the people must be carried in accordance with the constitution.

So for me.Nobody,no matter the position or status is above the law.the supremacy of the constitution makes it to protect the rights of human beings,it should always acts as the defender of the people in order to prevent the government from misuse of powers giving to it by the same constitution.

Constitutions is an implemented terms and conditions being constituted by the jurisdictions amongst the government bodies and it's expected to supercede each and everyone regardless of personal statusco.
The term of constitutions tenders instructions and conductive disciplinary measures so as to guide the people of both the jurisdictions who implemented the constitutions also as the citizens or the society entirely.
This is to moderate and and given the society cordially and in specific, to detect lawful and unlawful acts of anyone going Contrarily against the policies guiding the people.

But to me, it's unfortunate that some set of government bodies acts above the law which is to say the goes against the laws and the constitution doesn't hold them in charge instead the constitution has only been an exercise of only defaulting the common masses that's why we have much evils rising day by days where crimes is being sponsored by politicians and the laws doesn't hold them.
How about the politicians that steals the funds which is against the law but get they goes Scott free.
128  Economy / Speculation / Re: Every moments of bitcoin value is appreciable for investors on: May 29, 2024, 09:43:25 AM
While some short term goal investors are feeling disappointed in the Crytop currency market since few days now after the value of bitcoin has depreciated from $72,000 to $67,000 as at today, investors who're on the DCA purchasing method are taking chances of the fallen values to accumulate more to their holdings While there had been investors buying even when the value has surpasses the previous ATH because they believe that it's just a symbol that more values would be added to the market to appreciate their assets.

Who's it that says bitcoin has a specific period of purchasing it bitcoin? You should change that awkward thought and get your coins at when you can for bitcoin would always hold the best for you in the nearest future.
Bitcoin does not have a purchase period right, but the cheaper we can buy it will be the period most awaited by many buyers because it is not a time that we will easily get because the current price will tend to rise. The price for now is down around $800 from the last ATH so it could be said that this is a good period to also buy it because the ATH of around $72,000 is just the beginning of the highs that will be reached next year if what is predicted goes as expected.
When Bitcoin starts to pass the last ATH, it will still be a good period to buy, but the opportunity to keep it longer will be possible, especially if you buy it at a price above $100,000, but for investors of course that is not a problem because the target is long term.
Bitcoin is certainly a good buy regardless if the market is bearish or bullish. However, there’s a high advantage if you start accumulating bitcoin while the market is bearish and the bitcoin price is low, because you ca n maximize your accumulation and maximize your future profits as well as long as you decide to sell at its new ATH. But if you’re here for 5 to 10 years long term investing, the current price of bitcoin is not a big deal as you will continue to DCA whether bitcoin price is low or high.

Truly buying at a bearish market period is an added advantage towards investors accumulating of their bitcoins because they'd buy cheaper on a gradual while stocking on higher volume and keep holding until the market skyrockets.
Buying at the bullish too is a good one because new ATH would always be expected for long term Investors in order to account profits.
It's just about eliminations of FOMO and regardless that you'd miss out of investing lately or when the market price seems scary high.
129  Economy / Economics / Re: First they ignore you: Are we (the Bitcoin/crypto users) about to win? on: May 29, 2024, 08:23:49 AM
There's that well-known poem [1] saying:

First they ignore you,
then they laugh at you,
then they fight you,
then you win.


It there's also a saying that if you can't beat them then you'd have to join them unrelentingly. So for you to win you must be practically and theoretically ready for them in Logics.

So we, the Bitcoin/crypto users, should become even bolder. We shouldn't let politicians fool us with ETFs and other nice financial products. Because cryptocurrencies are not like any other financial product. They are needed to preserve the people's freedom and independence in a digitalized world, as an alternative to their surveillance fantasies (with cooperation from Google, Meta, Apple, OpenAI etc.).

You've spoken well d5000. And to think that was a basic terminology for bitcoin and crypto owners to think they're actually in for us but that shouldn't be the bone of contentions for the crypto holders. ETF approvals isn't the most ultimate in need, we need freed exercises of utilizing our cryptocurrencies.
If any government isn't going to officially adopt it to be legal tender then they should allow everyone of its holders to utilize it as they wanted. Afterall bitcoin in the first place wasn't a particularly projected to be government official tendered but of a p2p which individuals are found comfortable with.
The restrictions of bitcoin and Cryptocurrencies as a whole has seem so much of being an illegal financial technology.
The crypto adoptors needs a free world of legal holding and trading of their crypto assets and not the so ETH of those politicians coming to give promises and implementing what wouldn't Optimize the wider range of crypto adoptions due to the governments rules.
130  Bitcoin / Bitcoin Discussion / Re: Don't advice anyone to invest on Bitcoin if he doesn't have Alt. income on: May 29, 2024, 07:33:48 AM
you must have an alternative source of income by which your bitcoin investment can only be fertilexbti yield profits when you invested and doesn't panic it to grow else he may end up selling his bitcoin at lost having me to be blamed.

the dividends of his bitcoin assets would had be reliable to him after much he may have made some profits from it.
This is not about alternative source of income, but how much money he can set aside to invest which will not affect his monthly spending, this is why people who want to invest something need to have emergency funds.

If he only have one job that pay really well, he don't have to looking for alternative source of income.

Bitcoin never produce any dividend, if Bitcoin can produce dividend or generate more coins, it's clear you're hold your coins in centralized exchanges, holding in CEX is bad for security.

Maybe you didn't read the passage which I stated that he has lost his job where he leaned on his monthly salaries.
So with such person who count Invest in the bitcoin during when he had a job of eaning, I bet if he can afford a dime of his savings to invest after much he lost his job. Besides, his thought of coming to invest in the industry now isn't because he needed to Invest but because he needed a source of earning which would be expected a quick scheme of producing incomes.
I hope that get you cleared Apocollapse?
131  Other / Politics & Society / Re: Trump has promised to commute the sentence of Ross Ulbricht on: May 28, 2024, 12:53:30 PM
I think a life sentence was too long for his crime(s). Yes he facilitated many illegal activities but he didn’t carry any of them out himself. He deserved prison but to never see freedom again is far too extreme. I would like to see him given a fixed term, maybe another 5 years or something.

You're right. The whole scenario was like some political alliances indulges on collusion just to indict Ross in particular because the act of the illegal activity performed was in corporative to say the he's wasn't alone but only him was personalized for it.
I'm not in support of his illegal indulgences but truth being told is that there're lot of persons being done worse than Ross but yet they walks freely without being convicted or sentenced as Ross.
So I agree with you that the life imprisonment sentence was too much for him. It really feels sentimental of the jurisdiction in charge of the case.
132  Economy / Economics / Re: Gold and Bitcoin prices: the surprising relationship on: May 28, 2024, 12:16:16 PM
Using daily price data from September 2014 to May 2024, the correlation coefficient between Gold and Bitcoin is approximately 0.82.

A 0.82 correlation indicates a strong positive relationship: when Gold's price rises, Bitcoin's price tends to rise too, and vice versa.

Let me know if you want the raw data.

Op I just figured it out that you're a newbie and this post happens to be your first post. While welcoming you to the forum, It's expected that when you're bringing up crucial or technical informations like this, it should always be supported with Source for authentications and for interested members to learn more of it direct from the source.
This is just as rohasnagpal has made a good leadership for you here .
👇                           👇                           👇                             👇
You should always include the link where you got your info from, especially if you're going to write it exactly as it's written there - https://cryptoprofits.substack.com/p/gold-and-bitcoin-prices-the-surprising
Not including the source of your information can be termed plagiarism, especially if you don't state it's not your original content.


Gold is a risk off asset, Bitcoin is a risk on asset but Bitcoin is the far better asset. You will make much more profit in Bitcoin holding over the long term. Bitcoin is gaining increasing adoption & credibility within the traditional financial world so I would not bother investing in Gold because Bitcoin is far better.

Of course gold is a specification to store your asset values but can't be compared to bitcoin because the values of gold is only subjected to its scarcity while bitcoin subjects its valuability also on scarcities and massive adoptions which is to say bitcoin has lot of varieties by which it could drive potential uprises of its values.
So having your assets stored in gold commodity with the goal of making interests has potential losses that storing your assets on bitcoin as the both are volatile.
133  Other / Beginners & Help / Re: [investment reminder] Strictly for Newbies on: May 28, 2024, 11:49:03 AM

2. Apart from Bitcoin, it is possible that most of the projects to hold won't do well in a few years, even the good projects with great utility can suffer in the hands of some obstacles, like lack of funds, unserious team, hacks, etc, unlike Bitcoin
We should only invest in well know projects and if we want to  invest in new projects, we have to make research for those that has a long term plan. Some projects these days are just pumps and dumps and you keep seeing on social media, where they keep telling others to hodl and await for the pump which of course will never arrive.

True, it's more comfortable to invest on a well known populous projects with a highily recommendation reviews from the community users because there's always certification assurance to see experienced and influential investors Investing in the system.
This is as a case of bitcoin and the AltCoins where bitcoin is more dominance in the Crypto sphere and having being attractive and reliable where the big dogs also ventures the investments on the bitcoin while AltCoins are still struggling to smuggle with their marketing strategies of winning investors heart to their platforms without being authenticated of reliability as bitcoin maybe.
So, it requires tasks of research to undergo before venturing in the AltCoins projects which investors may not have been familiar about.


4. The chances that crypto will make you rich overnight are very slim, it's like gamblers who unexpectedly turn into millionaires without expecting it, but it is also possible to become a poor man if you don't know what you are doing, and seek knowledge always
If anyone believes to become rich over night using crypto then he will only end up becoming poor. The risk involved in crypto investments are very high and one must understand the market properly before jumping into trading. Profits takes time and strategy to analyze so let's not be deceived by what others are making through crypto they actually have made so much losses before they got to where they are today.

In avoidance of being mislead, it'd be necessary if we don't just subject to be influenced by speculations and hypes of a project and also as not just relying on certain investors stories.
Unfamiliar projects are assumed to have features which a strange investor needed to understand the scope so as to be able to independently be reliable with the marketing system analysis in order to not to jump on dumping projects or lost of funds by scammers.
134  Local / Politics and society (Naija) / Re: The situation in Nigeria is deeply concerning that many people are suffering on: May 28, 2024, 09:41:07 AM
It is imperative that our leaders show compassion and empathy for the people they serve, and take action to address the needs of the people. They should learn from the examples of those who have failed their followers, and realize that ultimately, they will be accountable to God for their actions. Good leadership is vital to the well-being of a nation, and the leaders of Nigeria must take this responsibility seriously. And is as a result of the current regime

If you never wanted this thread on the local board then it would had been better in the politics/society section because it's not contributing any impact to the beginners nor investors in need of help in this section.
I mean no offense please.
135  Alternate cryptocurrencies / Altcoin Discussion / Re: I Need Good Recommendations For Dexs On Solana on: May 28, 2024, 09:28:45 AM
Just on coin provider, and see the list on Solana.

Moslt everyone are gonna to used the famous one, like Raydium. IMO, the experience are just the same people using dex-exchange for trading and swaping nothing else. So, basically just same things.

Better to search on the coin provider.

Very correct. The decentralized exchange within in ecosystem of Solana might partially not be so unique but the same because they shares the same blockchain networks.
But on the sequence to the Ops request, let me just say Radium, Serum and Orca and within the range for him to consider and also go on research on the coins provider to suit its preference and not just relying on recommendations of fellows where in the thread.
136  Local / Nigeria (Naija) / Re: The increase of altcoins on: May 28, 2024, 09:06:26 AM
I agree with you that thorough research is required to be carried on before deciding on what crypto coin to invest on and since bitcoin has not only been a most dominance Cryptocurrencies, it has much been a most reputable and reliable crypto currency in the the crypto sphere.
I'm not in the position to recommend anyone to invest in the AltCoins because it can't be determinable of its reliable reputation as bitcoin but with my research about what AltCoins may posseses in their potentiality differences Ethereum is bets among them not just also because it's a crypto currency that its price moves cordially to bitcoin price but due to its several technicalities and community attributes which has also fostered it to a most influential AltCoins.
137  Local / Nigeria (Naija) / Re: If you can invest in btc then trust it and just hodl for future betterment on: May 27, 2024, 03:54:59 PM
Quote
Re: If you can invest in btc then trust it and just hodl for future betterment
I believe anyone who is going into bitcoin investment should at least accept the risk associated with bitcoin investment before he (they) signed up for it because there are lot of things involved while Venturing into bitcoin investment, which includes the total volatility cryptocurrency and one could lose his investment, that is why it's always advisable to hold those trusted coin such as bitcoin or any other well established altcoin.

All correct. The ability to understand that crypto investments is potentialed to volatilities which its values varies within increases and decreases in values has been one of most term anyone interested in investing on the crypto markets should acknowledge.
While the fear of the faithless investors to loose their funds is depended on their quest to undergo research to understand the reputabilities of those coins before invest.
So invest in the those diluted Meme and Alt Coins would always have you that lack of trust that your funds aren't secured but investing on the bitcoin would always have you a rest assured reputation that your funds are saved but you just have to keep holding patiently to make your goal a reality accomplishment.
138  Local / Nigeria (Naija) / Re: Repeated Verification Code Issues with Kucoin Withdrawals on: May 27, 2024, 03:42:16 PM
I haven't used Kucoin wallet for exchange transaction but I think this scenario would be of two error issues which is either your mobile network error or you inputted the wrong password which after the process would be followed by the two factor of authorization which you activated using your tele communication mobile network to process your transactions.

So due to the fact you tried it multiple times hoping for the authentication text to come to your phones the wallet network sensed the transaction to be all suspicious and so they had to revalidate your accounts securities which would take such time of 24 hrs.
139  Bitcoin / Bitcoin Discussion / Don't advice anyone to invest on Bitcoin if he doesn't have Alt. income on: May 27, 2024, 03:21:18 PM
My cousin who in time i asked to investment on bitcoin but has always had excuses that he'll invest later, sometimes he tells me that he's afraid to invest his money on the bitcoin due to the potential losses.
He had aslo told me that he's contented with his monthly salaries at then but now he has fall back to me that he's ready to invest because he has lost his job and it's becoming tough for him to meet up with his financial requirements.

This has someone living a luxurious life without undermining that his job is just temporarynand economy inflations could affect his savings.
Then I reminded him that the bitcoin investment isn't a get quick rich and for an individual who has bills and financial needs to respond to as responsibility, you must have an alternative source of income by which your bitcoin investment can only be fertilexbti yield profits when you invested and doesn't panic it to grow else he may end up selling his bitcoin at lost having me to be blamed.

So I've told him that I'm not involved if he gets to Invest at this time because I know he'd panic over the volatiles of the bitcoin market since he doesn't have  another source by which he can rely on earning income to process his financial needs. The choice is his to decide because if he had alternated his source of earning to bitcoin since I told him, the dividends of his bitcoin assets would had be reliable to him after much he may have made some profits from it. It'd had also served as means of savings and factor to encourage him to be economical with his luxury life which he doesn't have the potential to continuesly afford them
140  Alternate cryptocurrencies / Altcoin Discussion / Re: Do you think projects on LayerZero will benefit once they launch? on: May 27, 2024, 02:33:13 PM
I don't think many people know about this airdrop because it looks new to me. And we can't judge a new project to know if it will be good or not. Most of the project that came out to be good were once criticized badly and finally they made it through to the good side of the crypto community. And the ones people think it would good for them later turn out to be good projects in the community though in any good community there are bad people also. So there is no way the bad ones can be eliminated from the ecosystem.
They also co-exist with the good ones and it is our duty to know the good ones from the bad once. And for now we will not know if the LayerZero is a good project or not but as foe me i don't trust the project yet.

Truly we can't dig in to verify what airdrop project is real but because it's a free project that doesn't require investment of funds, and for that reason, participants are being obligated indulge into the project hoping it'd pay tangibly.
While most airdrops has been a scam, it's advisable that whoever that's venturing into any of the projects should bear in mind that one may participate to execute those required tasks and still ends up not earning rewards.
To me, I've always have any of the airdrops projects on suspect of being a scam if they're being too hyped with those promises that participants would earn hugely.
You can imagine an airdrop speculating that participants on their projects would earn 1 bitcoin per participants, I guess it's clearly obviously that that can't be possible.
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