Round: 1
Re: Buy the dip and HODL
Category:  Opinion & Suggestion
Board     : {Speculation}

Re: The Importance of inviting Newbies to Bitcointalk
Category:  opinion & suggestion
Board     : {Beginners & Help}

Re: It ain't meant to be easy
Category:  opinion & Suggestion
Board     : { Economics}

Re: What type of advice is worth giving such people?
Category:  opinion
Board     : { Bitcoin Discussion}

Re: Bitcoin is not going to $12k
Category:  opinion & Suggestion
Board     : { Speculation}

I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted. I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.

If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.

I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.

Spending 2% of your funds in order to buy Bitcoin is outrageous. Thanks for bringing this exchange to my attention so I will not bother considering them as an option as I do see their advert on youtube and other platforms. Nevertheless, if Coinbase is accepted in the UK, then I will advice you use Coinbase for buying and Withdrawal to another wallet where you have control. It is not a good practice to save your funds in centralized exchanges so always put this in consideration when managing your digital assets.

I recommend Coinbase because it has one of the lowest withdrawal fees for Bitcoin, just around $0.12. According to this article, there are also cryptocurrencies with zero withdrawal fees such as Stellar (XLM) and others. Since you are considering Bitcoin a lone, the fee is good and highly competitive.

You have a point and I truly understand.  However, making the post might not actually be that bad since it is possible others can support him in giving more merits and not just the 8 merits. I have seen similar threads where others joined the OP to distribute merits to deserving members and that is a way of contributing to the community by supporting and encouraging low ranking members to give their best.

In summary, if he gives his 8 merits and others also give even if 2 merits, it will go a long way. Instead of discouraging genuine intentions,  we should support and motivate.

My country just had a new government in place and from their body language, it seems the government will be pro Bitcoin and fintech. I know it is too early to conclude but the signs are there following some of their actions and policies. First, they have directed all banks to lift the restrictions placed on several accounts that were involved in Bitcoin and cryptocurrency transaction, forex trading and other fintechs. The last administration was against anything they could not control including cryptocurrency and forex trading so they banned all thereby shrinking the economy.

This was Buhari policy because the government was not friendly to cryptocurrency and other fintechs. Since the inception of this new administration, a lot of that have been relaxed. I made This post showing the ban have been lifted and account of persons restricted due to their involvement in cryptocurrency, forex trading and others.

If you check the resources I share in that post, you will realize that this government is a little liberal to startups and youth oriented companies so I expect cryptocurrency to enjoy deeper penetration now in Nigeria than ever.

The only challenge we have now is that some of the government agencies feel threatened by Bitcoin and cryptocurrency. Hence, they are pushing for the government to ban Binance  which they feel is responsible for the poor performance of their local currency against the dollar. Well, I doubt this will scale through because they already received a lot of backlashes for such poor conclusion that make them appear incompetent to handle the country's FX business.

Gambling on the streets is a little different from online gambling as the target sometimes varies.  There is a popular gambling style in my country where the target is to win items, food, drinks, jewellery and others, the emotion, vibration and even motivation for this is a little different from someone who is playing online to amass wealth.

Furthermore, the chances of forming bad gambling habits is higher for people who gamble with their properties because they practically have little risk management skills and most times looses their properties for small money.

Finally, I feel online gambling is better organised and makes it possible for someone to apply skill and talents unlike the street where luck play a bigger role than skill.

You don't need to know everything about Bitcoin before you accumulate Bitcoin; just the basic knowledge of how to send and receive Bitcoin, how to secure your portfolio from hack and just few others. We don't have to make Bitcoin so complicated that it will appear like something reserved for the tech savvy guys, besides, our desire is to achieve mainstream adoption of Bitcoin.

If you view Bitcoin from the angle of investment, then through simple economics, you can see the huge return on investment that Bitcoin offers...this will make you hold and not necessarily how much you know about Bitcoin.

I am not saying that sound knowledge of Bitcoin is bad; it is good to have deep knowledge of Bitcoin as that will help you appreciate the technology behind Bitcoin and also the opportunities it terms of birthing a world where freedom is sacrosanct.  While knowledge is good and very important, it is not the only driving force that can make someone commit his fund and hold against the storms.

The death of that young man pain me wella... I no find am funny seeing such a young promising talent just gone like that. Well, Naija music industry deep and one person been don talk am somewhere say na cult be that and from wetin I dey see, e be like say na true. E dey hard to see those celebrity live long and in good health, I don't know why e dey like that.


I be wan make we reason the guy death from another angel. First una sure say the boy hand clean? Una sure say him dey completely innocent for the whole thing? I know say for Naija, the person wey dey no dey dey guilty but we gat think wide sometimes. Our people say if pikin dey cry dey point one place, if them check am them go see say either him mama dey there or person wey him know. Why be say everybody dey attack the boy? From Naira Maley to some randomguys on the street, the guy just dey collect from everybody. I hear say him be don talk say if him die, make them hold him wife. Una sure the matter dey straight?

On the other hand, it is possible that there is a huge conspiracy involving his wife and some powerful gang, to get him out of the way. Check out the following incidence: He was attacked by group of boys in 2021; He was attacked at his estate; His wife bought pickup for her father after his death. All these are pointing to one thing.

Ditching a plan to follow alternative course of action could as well be part of planning. Planning entails steps to follow to achieve a target and it also put into consideration,  some things that must remain a constant. When these constants are not met, there is always alternative course of action. If you have been able to know about programming, there is something called conditional statement which specify what should be done if certain conditions are met... this is how planning is done.

There are always unforseen circumstances in life, so when you plan and in the course of implementation,  you find alternative course that is better, you have to adjust... planning is not an oath so you can't be so rigid with your plans when you have find better alternatives.  We all aspires for the best so "when that which is perfect is come, that which is in part is done away with"

There is a very thin line between trading and investment based on your definition of the later. I will try to paraphrase your statement to be able to give me perspective on this topic.

Investment like I know it is not limited to digital assets as trading itself is another form of investment... you invest time, resources and even money in order to make more money. Investment in the form of buying and holding digital assets such as Bitcoin is a wonderful approach that have proven to be very profitable but requires a lot of patience and discipline to be able to hold amidst the temptation to sell when in profit or fidget when in loss.

Trading on the other hand have higher risk and higher returns.  High risk because it requires very delicate skill and discipline to scale through. But when the skill is mastered, trading is far more lucrative than anything you can imagine. Most big holders of Bitcoin I know are people who made money from trading and decided to invest in Bitcoin.

So, I am of the opinion that both trading and investment are good and better combined for both short term and long term profitability. 

There is a saying that where your money is, your mind will be there. This mean that so long as your money is committed to it, be it trading or investment,  your emotion will be involved. So, it is not bad when your emotion is activated whenever you place a trade or make an investment.  The art of managing these emotions is what shows how psyologically prepared you are.

You are not expected to be worried that emotions is involved in trading and investment because poor emotional deposition is itself a form of worry. What I usually advice is that while seeking trading and investment skills, also seek psychological skills because trading and investment is 30% skills and 70% psychology. This is the unwritten rules that every success trader and investor follows.

As a guide, the following steps will help:
1. Only invest what you can afford to lose
2. Before investing or opening the trade, determine your risk exposure and your profit target
3. You must have a trading or investment plan because planning eliminates a lot of mistakes
4. Be open minded and keep room for alternative possibilities so that you don't hold on to a bad trade or bad investment beyond when you should.

There are more but I believe you should have gotten an idea of the point I'm making.

Good Day,
Thank you for your submission and also congratulations for choosing to invest in Bitcoin. It might just be one of your best decision you have taken.

Any approach you adopt to accumulate Bitcoin is not bad as long as it is increasing your portfolio. A lot of people are using your option of waiting for the dips to buy and since we are still in a relatively undecided market condition, they have been right buying at every dip. This will continue until we have a bull market where market might not give them the chance to buy again because dips might be rare to see.

The DCA method does not really look at price... so the option of waiting to buy at the dip does not really agree with DCA. If you are employing DCA, then waiting for the dips will not be necessary... so I guess you have some modifications to make regarding your approach so you don't miss our on major move that can start any moment.

The salary of an average Nigerian worker is about N150,000( $160) per month and this is for graduates that have put in some years of service. Unfortunately, base on the currenct economic realities of our country, 50% of this fund is spent on feeding. This is to say that many people are leaving from hand to mouth because the remaining 50% is not enough to cover to shelter, health, clothing, utilities and other basic amenities.

If urgent steps are not taken, people will drift towards depression and that is not good for a country with population of 200 million people. 

If they are registered with CBN does that mean that CBN have started approving companies offering crypto-related services? It will be good anyway but then one have to do more research about the company. 

If it happens that they are actually approved by CBN, then Bitcoin penetration in Nigeria is about to take a new shift and that is a wonderful news for us.

You are right and I truly think the newbies need the right information so they don't get distracted. However, as for the caption of the post, I don't see any need for newbies to engage in argument with critics.

What the newbies need is to get the knowledge that will sensible them build their faith in Bitcoin. This faith will protect them from every negative posts and discouragement. Remember,  "if you are informed, you cannot be deformed"

People who do this are basically promoting their channel and looking for customers. Some of them even use that to lure people so they can scam them. I have also seen a lot of them who added photoshop and not their actual winning and wallet balance. I will advice you to be careful with anything you see online before you fall into scams.


Gambling websites are centralized so it is not always advisable to leave funds there. Like you said, the only fund that should be there is what you want to use to play. This is also my practice and so far, it helps me to control my betting while also remaining safe.

Personally I see KYC as something at parallel with the very essence of Bitcoin. KYC eliminates the privacy and anonymity that Bitcoin establishes and this is the reason we have BTC mixers. The major security challenges faced in Bitcoin are unconnected to KYC. For instance, KYC was not able to stop MtGox hack and FTX scams. I am yet to see how KYC was able to make much impact in fighting money laundering or reducing terrorism financing... maybe it does and I can be wrong, but I have not seen any report pointing to that direction.

I don't know if you see gambling as entirely bad, if that be the case, I do not share that notion with you because gambling is not an entirely bad business... it is just the approach of some people that make it look as if it is bad. Come to think of it, gambling have been there right from time, from pools to papa Ijebu, and now betting and casinos, it has always been there. People have made successes in it.
I still maintain that if proper strategy is applied, gambling can be a very profitable venture. I just gave one example of successful gambler, the list is long.... I even know those who are not ready to work for anybody because they are making it big from gambling. It is all about strategy. I know it is in human nature to criticise what they don't understand so I will not be surprised if many people condemn gambling.... but for the records, gambling is business that you can win with the right strategy.

One good thing you should know about gambling is that it gives people hope which is very good for our health as depression is sometimes the absence of hope

Na lack of strategy dey cause the kind failure wey people dey fail for gambling. Make we no forget say plenty successful gamblers dey for Naija, example is Mayor of Ekiti. He is a successful gambler that have dealt with several bookies on various occasions. I know say grace follow but person gat apply strategy because na lack of strategy go make person take all him money play gamble when you know say na game of probability.

E dey pain me when I see the kind attitude some people dey form untop gambling... your family never chop you carry the small money you get go dey play gamble. Naija no too dey play gamble self... visit US and see how gambling and casino centres plenty and many people dey play am... but e come be say our people no add sense untop am.

For Naija now, if them know say you dey play gamble, the first thing them go say you be useless and irresponsible man. E no suppose be like that. Make people dey add brain sha.

I was using this approach before and it is good because you will commit more funds to the games you have more confidence in and less funds on games the probability is lower.
The only challenge with this method is the tendency to over-leverage which might result in pains.

Despite this looking reliable on the surface, in terms of business continuity and sustainability,  I don't think this is good. One single loss can wipe out one week of consistent winning.  You already confirmed that you lost all your money to a single loss... that means you need to modify your strategy if you want to remain in business.