Bitcoin Forum
August 03, 2024, 05:32:35 AM *
News: Latest Bitcoin Core release: 27.1 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 [64] 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 »
1261  Bitcoin / Bitcoin Discussion / Re: Satoshi's first tweet since 2018? on: October 02, 2023, 10:08:42 PM
I have a feeling that this may not be Satoshi, but then we shall see in coming weeks or months.

Satoshi can easily prove himself by simply signing a transaction from his wallet and put this whole drama to rest.

Like many people have suggested in the comment section of
that tweet, I will advice anyone not to click any phisihng link that will come out of that tweet. Hackers are active!
1262  Bitcoin / Bitcoin Discussion / Re: Craig "Faketoshi" Wright saga continues. His team turns against him. on: October 02, 2023, 10:01:01 PM
In my opinion, the court cases, arguments and all the unnecessary and boring discussions are not necessarily. Satoshi have Bitcoin wallets and account in this forum. If Craig claimes to be Satoshi, he should login his account in this forum and make a post to convince the Bitcoin community. On the other hand, let him make a transaction from Satoshi's wallet. If he fails to do any of the above, I will gladly join the group that see him as a laughing stock.
1263  Bitcoin / Bitcoin Discussion / Re: I took a proposal to my State Governor to accept Bitcoin Technology on: October 02, 2023, 07:31:23 PM
Great initiative brother. I want to acknowledge your creativity and boldness. I want to suggest that you consult an educational curriculum expert to design the learning experience for the student. And it should be simple to understand.

Introducing these employed youths to Bitcoin will not reduce unemployment because it might not give a them steady income. The best option will be to teach these youths skills that will help them get jobs. Bitcoin can now come in when they have saved money to invest. But no knowledge is a waste,  therefore I commend your effort.  

But you have to prepare to face some problems. This may include regulatory problems since banks are restricted from dealing with bitcoin in Nigeria. The central government might see this move as an attack on their stance on Bitcoin. Politicians are corrupt, so expect the governor's aides to ask for kickbacks before you can get the needed sponsorship or assistance. Most students might not have access to Android phones or computers to do the practical aspect of Bitcoin education.

We will keep pushing until our nation becomes Bitcoin-friendly.
The restriction in the use of Bitcoin and other digital assets in Nigeria was effective under the past administration headed by Mohammadu Buhari. It was under his directive that they froze the accounts of a lot of crypto-based companies and fintech start-ups. Conversely, this new administration that took over government this year have shown willingness to allow digital assets to thrive. I captured one of their directives in this thread where the central bank have directed all banks to lift the restrictions placed on companies and individuals involved in cryptocurrency business.

So far, there have been a surge in Bitcoin awareness in Nigeria as Nigeria have remained at the top in countries with highest search of the phrases ‘cryptocurrency’, ‘invest in crypto’ and ‘buy crypto’ according to this article published by Coingecko
1264  Local / Nigeria (Naija) / Re: How Technology advancement go affect us negatively in the nearest future on: October 02, 2023, 07:12:39 PM
Inasmuch as I understand that technological advancement have its negative impact, the advantages outweighs the disadvantages. You can agree with me that owing to technological advancement, innovations such as the blockchain that is the reason for the creation of this forum that have created many jobs that you can attest to. The internet is another example as it has created more jobs than robots could take. Other examples include Youtube, Facebook, X and indeed various social media platforms where monetization is possible. Furthermore, digital and multi-level marketing have created more millionaires than you can imagine, thanks to technological advancement,

Therefore, it is safe to say that conventional jobs are phasing out due to technological advancement and this in turn, create new jobs which are even more in number and in pay. 
1265  Bitcoin / Bitcoin Technical Support / Re: [Oct 2023] Fees are lower, use this opportunity to Consolidate your small inputs on: October 02, 2023, 06:12:29 PM
Yeah very good timing for me as I needed to move my Sept mining proceeds to my partners. I was thinking I was going to need to spend more than 35$ worth of btc to do all the moves and consolidations I needed to do. As it is I spent under 10$ in btc for the moves I did and I even consolidated two different  wallets sets of  tx .

 We are very low right now.

https://jochen-hoenicke.de/queue/#BTC,1w,weight

but we may be going upwards a bit.
In coming days and weeks, we will see it increase a bit like you rightly posited. This is expected though; I did some transactions of recent and I was surprised to see it settled cheaper and faster unlike before that it took me two days to achieve the same result at the same cost.
1266  Economy / Gambling discussion / Re: Educate yourself to be a frugal gambler on: October 02, 2023, 12:30:23 PM
Play for fun. If you are not playing for fun, you are doing it wrong. Gambling should be done to entertain yourself only, and always remember that gambling is not a sound financial investment. I have witnessed the horrors of people who blow their kids college funds and life savings on gambling at a Casino. Don't be one of these people. Have a daily or weekly gambling budget and learn which games you like and how to play them so that you can actually have much more fun playing them than just winging any game.
I sort of disagree with you because if you playing entirely for fun, then you cannot take it seriously. Have you forgotten that the gambling industry is worth billions of dollars? If you play for fun, you might not know the importance of discipline, seriousness and commitment and this is not how to survive in a multi billion dollar industry. You can catch fun while playing but it should never be the driving force for venturing into gambling.

I have always been an advocate of developing a strategy that integrates, risk management, style of play, winning targets and when to stop playing. If you have developed this system and follow it religiously, the fun will come naturally because it will take away the pain of loosing beyond budget.

By the way, what other fun is greater than having huge and winnings? With the money, you can get all the fun in the world!
1267  Economy / Speculation / Re: Good time to sell? on: October 02, 2023, 11:45:41 AM
I always try to look for couple different indicators. Main mathematical indicator is obviously pi cycle top. But many people consider those indicators as something very manipulative. So I also look for sentiment of markets. I especially observe my local people. At one point crypto market becomes so good that everyone starts to say they buy some Bitcoin. But as I say, its actually good time to sell. I mean even your local grocery guy buys Bitcoin (not as user but short term profit seeker) its a point to worry.

True, many items influence and are tied together. Yes. Market conditions always make us think, but one thing we feel is that trading consumes a lot of energy. If it rises, we feel happy and vice versa. But. I think if you want to set up buying and selling, it's better to just do it once a week (Short Term) maybe it's better for now.

Of course, there are lots of indicators that are used, but from the several sources that we have looked for and tried, none of them work perfectly, there are shortcomings and it comes back to us when we make decisions about when to buy and sell .
I am not really a fan of short term buying and selling as it require sophisticated skills to be profitable. From experience, it is most profitable buying and selling in a market under consolidation ( market moving within a range). But when there is a clear trend in the market,it becomes a problem. I usually do not encourage those who are not technically and psychologically prepared to venture into this style of Bitcoin investment.

Gradually we are seeing some positive response from the market, signalling that the much anticipated bull marketing is setting in. This is indeed a good time to buy rather than sell. Besides, who will hold Bitcoin through the prolonged consolidation only to sell when the marketing is showing signs of bullishness? Next year might be late to buy so all buying will be best suited now.
1268  Economy / Speculation / Re: Buy the DIP, and HODL! on: October 02, 2023, 10:02:31 AM


If you are not sure about it, then start with buying $10 per week of bitcoin and get your shit together, figure out your finances and your psychology and if you got it mostly figured out
I know it is as too small to begin But this is me that you mentioned mate, Yeah I started purchasing 10 dollars worth of Bitcoin back in mid of 2017 , and added a increasing amount each week.

but with wrong decisions in life, I got involved in gambling and ending losing all my investments in 2018 and yes , I truly regret those decisions.
But from there of mistake ,Now I can proudly say that I can feel the success in the net bull run.

Well, just take your experience as a learning process. At some point, we all have made one or two mistakes and the best we can do is to take the lessons from those mistake to be able to make better decisions. I remembered being scammed several times in my early days in Bitcoin. As bad as those experiences were, I never allowed them to break me, rather I comforted myself with the notion that nothing good come easily, so I regarded those losses as the school fees I had to pay to learn this amazing technology.

Nevertheless, I expect you will not to treat your Bitcoin investment with this mindset of gambling... trying to get rich quick with little effort. The lessons you learnt from your previous experience should guide you on the important of gradual growth rather than wanting it overnight. The DCA method is one sure way you can achieve this slow but steady growth in your Bitcoin accumulation.



Hope he will not act like that lol.. 

but for me , as I keep reading most of your post and still learning more each day , thank you for being so active specially for Bitcoin .
He has been of so much help in the forum.Through him I have learnt the DCA method and other wonderful things including the power of small beginning. There is a saying that "if you following who know the road, you will never be lost"
1269  Economy / Speculation / Re: Buy the DIP, and HODL! on: October 01, 2023, 09:07:39 AM
I have learnt never to sell my Bitcoin with the hope of buying it back  when price supposedly reduces. There is a high chance you will never replenish the Bitcoin. So I feel this pattern of buying at the dip and selling at the peak will not work for everyone as not everyone have the discipline to do that. Besides, is there any way to completely determine what the dip and peak are?  

Assuming you bought Bitcoin around $8k and some around $15k, probably you bought lets say 5 BTC in total. If you sold this in 2021 around $60k, this represent a descent profits. fast forward to today, there are high chances you have not replenished your portfolio with 5 BTC and this means even if you might have more money in fiat, yu have depleted your Bitcoin portfolio and anything that makes Bitcoin create a new ATH, you might likely be depressed seeing that your overall decision was not the best. On the other hand, you have kept a large chunk of that money as fiat, there is the possibility you inflation would have eaten deep into the money.

The ultimate aim of every believer in Bitcoin will be to own Bitcoin. In other words, you can not be a true Bitcoiner when you are overly ready to deplete your portfolio at the sight of profit even though you have the intention of buying it again at some point as this have turned to a game of probability. It is not a good position to be in my opinion.

Your overall theme sounds good, but there is something wrong with your example.. because if someone bought 5 BTC for an average price of around $12k, that person would have spent around $60k for those 5 BTC, so there surely could be ways to sell some of the BTC and buy them back and to end up with more BTC.  So you are seeming to give away too much by assuming that they are able to sell at or near the top.. and if anyone ends up selling at or near the top, they end up having a lot of options to buy back lower if they did not end up spending it for consumption purposes and they kept that money in their investment portfolio.
I understand your point completely and yes, you are right. Nevertheless, what I gave was an assumption... from experience, those who buy low to sell high usually do not necessarily wait for the peak but do sell as soon as they see considerable profits. So, I doubt they could be so patient and organized to buy at $12k and sell at $60k. The chances of this happening is very slim because no one would be able to know for certain that Bitcoin will go as high as $60k before the present retracing.

Looking at historic data and considering that market have this way of testing our psychology, it is most likely that they bought and sold at prices we are not even capturing. To be specific, Bitcoin made a high of $19,891 in 2017 before retracing to around $3,200 in January 2019. It rallied to around $12k in April 2019, so anyone who bought low would have targeted the previous ATH of 2017. This means those that bought around $12k would have sold around December 2020 when Bitcoin smashed the high of 2017 to hit around $29k before 2020 ended. From this point onward, Bitcoin never experienced any huge dip and this means that those who buy low to sell high might have missed the bull run of 2021 and even if they managed to jump in after selling their previous stash for profits, they most likely bought above $29k.

The point I am making is that even though this patter appear attractive to some people, it might make someone miss wonderful opportunity such as buying around $3200 and riding the wave of 2021. This kinds of HODL is only possible for long term holders and not those with the mindset of buy low and sell high.... the high might not really be the true high.

1270  Other / Meta / Re: best replies should appear first in a thread. on: October 01, 2023, 08:09:40 AM
but not everything is about merits.
I agree with you completely because being too fixated on earning merits really kill the fun of the forum and make discussion here sort of boring as people will tend to jettison their opinion in order to align with those of merit sources or those they feel will give them merits. I have seen few threads where everyone make comment just to align with the big people because they need the merits. If I'm not wrong, this should be one of the biggest Bitcoin community and considering the very essence of Bitcoin, people are supposed to feel free to express their views, criticize positively, disagree to agree and just have fun. The moment we make everything about the merit, then there will be serious problems.



And talking about your suggestion, I don't like it, and I don't want it to be implemented. Because this would become some sort of discrimination. Because not every member tries to copy others' replies, but unintentionally their context ends up the same. And that's not fully true that only the first two posts make good merits, I have seen many threads where people get merits even on the second and third pages.

The point is, we are here to add value and to learn from others, but yeah, merits also matter, and we cannot ignore that fact. But our first priority should not be based on merit.
I know a lot of people that are so committed to the forum that they read each and every comment in any thread they are following, giving merits to deserving comments irrespective of the page the comment. These are people I respect a lot as I have not see such level of commitment. They are always willing and help, guide and correct any misconception as it relates to Bitcoin and blockchain. Furthermore, since threads with with the latest comments comes to the top, most people usually go the latest comments and this shows that every comment gets the needed view and attention.
1271  Local / Nigeria (Naija) / Re: Bitcoin vs Altcoins – projected Marketcap on: October 01, 2023, 07:23:22 AM
I dey really happy as Chilwell don translate my post for their local board. The topic dey very very important and I go like make everyone read am and learn from am. Because plenty Altcoins get secret tactics wey dem dey use do fraud and deceive buyers. Highly inflational Altcoins, like Polkadot, dey very very dangerous because the way wey the thing dey expand no be here, like I point am out for my article.
When I dey examine Altcoin, plenty things dey well well wey we need to check am. Inflation na the only one koko wey dey but na em be the very important one. Dey don advised say make we dey look closely, Watin go happen to like Polkadot. Such coins go massively lose value over time.

Make we dey put am for mind  Smiley
E come dey look like say you sabi our pidgin pass plenty people for Naija. I really dey feel your flow and if you ask me, e don reach when we go sama you one ogbonge chieftancy title because na person wey don chop Naija swallow fit vibrate in Niaja flow like this.

I don take time read this your story wey dem carry come our board, e really make sense die. As e be say Naija don really pick up for Bitcoin pass as e be before, I believe say this kind knowledge dey very important for people so them go know how to take follow their investment portfolio. This your update done already open my to see wetin dey sup with come crypto wey I been dey comot cap for! I believe say you go don hear say Naija no dey carry last... so as the next bull market dey come so, we mount gidigbam untop crypto and I dey sure say everywhere go soft next year onward. Once again, thank you for the kind contribution wey I don see as you dey do for the forum.
1272  Economy / Gambling discussion / Re: Ban from a Casino for Nothing Other Than Winning Too Much Money on: September 30, 2023, 10:20:56 PM
Actually this is nothing new for high roller or professional gambler, first the casino will limit the account, if he's keep winning and drain the casino's money, they will take the last step to ban the account.

Since Dana White was gamble in land based casino, it's more easier for the operator/staff to ban the high roller or professional gambler.

I'm not saying the casino is bad or unethical for doing that, but they must do everything to make their business not going to bankrupt, right?
I agree with you on this... it is all about protecting their business. Even though this does not see ethical, it is the reasonable thing to do to ensure business continuity. 

However, what I would have suggested instead of outright ban is to place winning limits. In this case, the limits can stop one individual from draining the company.
1273  Bitcoin / Bitcoin Discussion / Re: Where are all the Bitcoin naysayers? on: September 30, 2023, 09:56:21 PM
Bitcoin have a way of humbling critics, that I know for certain. Before there was a mindset in my neighbourhood that Bitcoin was scam... those of us into Bitcoin then were seen as unwise. Funny enough, some of those critics are hodlers today. Indeed Bitcoin bring to reality the popular saying that "if you can't beat them, join them".

Peradventure the next bull run turns out massive with Bitcoin hitting over $100k, those of them still remaining, if any, will have no choice than to join.
1274  Other / Beginners & Help / Re: HODL is purely a mental challenge on: September 30, 2023, 06:14:33 PM
HODL is all about mental, I totally agree.

The temptation to HODL bitcoin when the price is falling is whether we will continue to hold it and wait for the price to rise again? How long? or do we cut lose?

The temptation to HODL Bitcoin when the price goes up, do we keep holding it until the price is even higher? or will it go down again? we are confused about what price to sell, too early we will regret it, too long the price can drop again
I think the temptation to HODL when price is rising is far higher than when price is falling. I don't know if others experience that as well but personally, seeing my portfolio in profits of multiple of my investment could be so tempting to sell and take profits. It takes a great deal of courage and faith to hodl and not sell at this point.
On the other hand when is falling, people rarely sell except some panic sellers or big playings that will dump the price so they buy cheaper. There is even this popular saying that  "you only loose when you sell"

So HODLing bitcoin is about mental strength, long-term goals and good financial condition. Without it, I doubt I would be able to HODL
Indeed a great deal of mental preparedness is needed to HODL Bitcoin in both bull and bear market but in all, the level of faith and believe in Bitcoin is what will guide our decision. 
1275  Economy / Speculation / Re: Potential events that can initiate next bitcoin rally on: September 30, 2023, 10:57:31 AM
Bitcoin ETF

Details: An exchange-traded fund (ETF) is a type of investment fund that is traded on a traditional stock exchange. The Bitcoin ETF tracks the real-time price of bitcoin, which is issued by asset managers who purchase bitcoin from the spot market, bundle them together, and offer their customers shares of that bundled bitcoin. These shares are exchangeable on the traditional stock market.
 
Impact: Bitcoin ETFs are regulated by the SEC, so investors feel secure investing by thinking their investments are protected by law. Bitcoin ETF’s share is tradable to the stock exchange market, so some investors feel comfortable buying this share instead of real bitcoin, which needs to be stored and secured by the users.
 
Evidence: World-largest asset managers like BlackRock, Fidelity, WisdomTree, Invesco, Valkyrie like asset manager applied for the bitcoin ETF, and many analysts predict that it will be approved just before the halving.
 
Pros:
  • Can be brought as a share.
  • Regulated
  • Tax efficiency

Cons:
  • Investors can't hold real bitcoin.
  • Higher fees
  • They have no control over their fund.
I'm still struggling to understand how Bitcoin ETF approval will lead to increase in price of Bitcoin considering that the ETF itself does not correspond to owning real Bitcoin. For instance, if retails buy Nasdaq in the forex brokers through their trading platform, this is so insignificant to cause a rise in price of the shares of the company as what is being traded in the market is like the features. I understand that Bitcoin respond so well to fundamental, perhaps the news of ETF approvals can cause some gains in the price of Bitcoin but if this rise can be sustain by this news is what I'm yet to understand.

So many people  are already predicting that approval of Bitcoin ETF next year followed by the halving is enough fundamental to push Bitcoin to an ATH. While this sounds nice and cogent, realization of such projection still leaves so much uncertainties. My best guess is that the ETF approval will create the hype while the halving will create the imbalance in the demand that is needed to propel the price.




1276  Bitcoin / Bitcoin Discussion / Re: Bitcoin vs the government on: September 30, 2023, 10:42:31 AM
Bitcoin is not in competition with the government so I feel we should not make it look as though there a battle between the government and Bitcoin. Without mincing words, so long aa Bitcoin is expected to be used by citizens of the various governments, there is no way government will not be involved. 
What we need is collaboration with the government to make Bitcoin legal tender in various jurisdiction...when this is achieved, things like taxation will be fixed and everyone will be happy. As it stands now, SEC, a government agency is still very much key to the approval of Bitcoin ETF that is projected to play key role for the future of Bitcoin.
1277  Bitcoin / Bitcoin Discussion / Re: Do you think Satoshi got rid of his private keys? on: September 30, 2023, 09:56:21 AM
It is possible that Hal Finney is Satoshi, and if he is not, then there is high chance Satoshi is another person and still very much alive. His real name might not even be Satoshi and there is high chances he is not Asian.

It will amount to a joke to think that someone inspired by the need for privacy, freedom and anonymity, to create Bitcoin, will divulge his identity easily.

As for his private keys being lost, the chances of that being true is also very slim unless perhaps, he intentionally decided to donate those Bitcoin to the community.  Besides, he would still be very rich in Bitcoin because he would have still be mining Bitcoin with different data.
 
1278  Local / Nigeria (Naija) / Re: INEC lament as voters shun PVC's in Kogi, Bayelsa and Imo states coming election on: September 30, 2023, 08:44:54 AM
This one no come to me as surprise at all... democracy don die for Nigeria after that sham them do for 2023. This one na even small; you know how many wey don burn their voters card? The political apathy don start already.

By 2027, they will be beating people coming to campaign self because na waste of time and energy. Make INEC kuku dey write results give who them want we no send them. NA MUMU DEY VOTE!
1279  Local / Nigeria (Naija) / Re: Delay transaction; who to blame? on: September 30, 2023, 01:15:29 AM
Failed transactions are one of the commonest means banks are scamming customers. There are some people that will make transaction, the transaction will fail and the bank will do nothing after the issue has been reported. But most times, the bank will resolve it after 5 to 10 working days, while some can take longer. But there are some that might not be resolved.
I agree with you that the banks uses these failed transaction to cheat customers because they know that not all customers have the time and patience to follow the rigorous process of resolving them. 

There was a time I went to buy bread at Jevinik and I decided to pay with my card through their POS, the transaction failed twice yet I was debited and was told the money will be reversed within 24 hours. I have waited till date the money was never reversed and when I consider the transportation and stress of going to resolve a problem of N4,000, I just decided to let it go. Imagine how many people that face these  kinds of issues on daily basis.


This is one of the reasons bitcoin transaction is better
Bitcoin is for sure better because so long as there is no mistake in the address, there will be no issue of failed transaction.  Besides, the whole thing is open and can be verified easily in the public domain

1280  Bitcoin / Bitcoin Discussion / Re: I smell fear... on: September 29, 2023, 04:22:12 PM
For me the entrance of a Central Bank Digital Currency (CBDC) into the market will not be in favour of Bitcoin as the very essence of such initiative will be to weaken Bitcoin.  I know the governments will do all they can to provide something that will look like Bitcoin, something they can control because they know that digital money has come to stay. Unfortunately, they will fail at achieving a digital currency that will challenge Bitcoin.

My country launched E-Naira but it failed because people never paid them any attention as there was practically no need for it. I know many governements in the world are also working on something like that but I'm confident Bitcoin will prevail.
Pages: « 1 ... 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 [64] 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!