My fellow naija people! Dem say follow who know road.. if you no follow who no road you go suffer till you go tire😄 sometime in life people dey always think say Dem dey make am, not knowing say Dem dey deceive themselves.
Socialization is one good factor of success. If you always find it difficult to socialize with people it will definitely affect you in one way ore the other. Expecially in this kind of our business.
Question: always ask question. Our people say person wey dey ask questions no dey mis road. So many people lack that character of asking question. If to say I no ask question I for no ft find this forum.
Ditermiation and consistency is also a good factor of success. Always make judicious use of any important information that comes to you otherwise you always find it difficult to succeed.
So guys wetting ona fit talk for this matter?
op I never still understand which of the question wey we go answer oo, na the one wey dey the topic or the one wey dey the body of the post? because the two of dem nor relate oo. nor mind me oo @Samlucky welcome to this forum the Bitcoin family, na so the forum be oo, attack from every angle but the most important thing na to learn from our mistake, so we no go do again oo, we dey learn every day, me self na still smaller like you for this forum but wattin go make us grow na to give more to reading and studying. Concerning The Question From The Topicthat na very good question to answer, because the small knowledge and information wey I don get about Bitcoin since i join this forum na make me not to dey panic, even as the price dey very bearish.  Source: https://www.google.com/search?q=bitcoin+price&sca_esv=558787020&ei=jY3jZL39CPq3hbIP4r2G0Ak&oq=bitcoin+p&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIgliaXRjb2luIHAqAggBMg4QABiKBRixAxiDARiRAjILEAAYigUYsQMYkQIyDhAAGIoFGLEDGIMBGJECMg4QABiKBRixAxiDARiRAjIOEAAYigUYsQMYgwEYkQIyBRAAGIAEMgUQABiABDIFEAAYgARI8E5QmyNYrz9wAXgCkAEAmAHpBaABvBCqAQkzLTIuMC4xLjG4AQHIAQD4AQHCAgQQABhHwgIHEAAYgAQYCsICChAAGEcY1gQYsAPCAgoQABiKBRiwAxhDwgIWEC4YigUYxwEY0QMYyAMYsAMYQ9gBAcICEBAuGIoFGMgDGLADGEPYAQHCAggQABiKBRiRAsICCBAAGIAEGLED4gMEGAAgQYgGAZAGDroGBAgBGAg&sclient=mobile-gws-wiz-serpbecause I believe say the price must rise again based on facts, data, theories and laws and the halving fit be the perfect catalyst for the price increase. And also because of the exposure wey I get from Bitcoin I don dey understand the crypto world by diving into deep waters. |
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My people e just come to my notice say unemployment for don reduce for naija if many people were educated and informed about Bitcoin.
Op please take this correction, satoshi never created bitcoin to be considered as a job or for it to reduce unemployment, it was created to be used as a currency for p2p transactions. but due to its authenticity we deemed it fit for investment and that doesn't mean we should take it as a job, Bitcoin should not be depended on as a source of finance for survival ( it is risky) because of its volatility. If you observe closely you'll see that even the largest bitcoin holder have something doing that generate money for their holding. all am saying is that it is advised for you to be employed before going into Bitcoin investment and not the other way around, the fact that your a Bitcoin investor doesn't mean that you are employed, taking for example it just like telling a gambler that he is employed. can't be a motor mechanic and going to further education in becoming a Doctor, that is a foul decision.
And this will increase the rate of unemployment because of imperfections in there field.
Boss clean your mouth for this talk wey you talk just now, what if the person papa na mechanic and en come learn work because of survival but en dream na to become doctor. Me and u you know say e nor easy for this country and for that course wey just one text book dey reach 15k, the person fit dey do small small work on Saturdays dey assist em papa to train am for school, naim you dey call foul decision.
In a way sha, school na scam. The four or five years wey some of us use go school, then come comot do one year for NYSC, then still stay another 1 or 2 years before we get 80k per month job, if to say we use am learn auto mechanic, Pipe fitting, spare part trading, fashion designing, we for don turn professionals and even dey employ pipo. If na lie, go Onitsha Market go ask those big igbo men.
bro wattin you talk make sense oo but I nor gree say scul na scan in any way, just as Charles_Tim talk exposure matters a lot, person wey go school dey likely to think critically pass person wey no go, even those big Igbo men wey u talk if dem go school join the one wey them dey now, I bet u dem go big pass like that. |
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Proverb: person wey dey baf for river nor dey complain say soap dey en eye.
Meaning: you shouldn't be complaining when you have the solution by your side.
Proverb: pikin wey dey shoot karterpot for market, one dey the stone go touch em mama.
Meaning: evil practices will surely torment you back.
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Good day my fellow Bitcointalk members, i have been longing to ask this question, so I decided to come to you guys to learn from your wisdom rather than having a random online search which seem confusing most times.
Please I want to know the factor behind the rise and fall of Bitcoin price?
Some say its influenced by supply and demand but I need more conviction.
Thanks in advance guys.
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Do we really have any business with being a poor nation? How did we become the poverty capital of the world? Have you taken your time in considering other countries around the world or maybe you shouldn't go too far and maintain within the scope of Africa alone and see how people are really suffering than you think your country is, for how long are we going to keep blaming the government for their failures when we have the two bare hands to work and till the ground to source out for what we need and even have others benefits from it, can the country make everyone rich at the same time? even if everyone should be given millions of naira it does not end people's problem, they will still be in lack, it's more of we changing our mentality for dependency and work things out for our sustainability. Thank you for your patriotic submission. Indeed people like you with so much optimism are needed to change the narratives. Just so we are on the same page, kindly educate me how hard I need to work so that there will be electricity in the country, good roads, good hospitals and quality education for our people. How hard do Nigerians need to work to stop the endemic corruption in the military and the entire security infrastructure? Is my hardwork enough to make our refineries work so that Nigeria can stop exporting crude oil while importing finished products? What do you really call complaining? Is Nigeria working for you? Do you think that the people killed daily by bandits, terrorists and kidnappers are all lazy that is why they are being killed? Kindly explain to me what will not be seen as complaining so I will stop complaining and starting appreciating and expressing my gratitude. The Nigerian system is prone to manipulation as the foundation is flawed. This is the reason external forces do interfere with the elections processes to ensure that the worst of the people are installed into power. So, how do we change the narrative? Does it mean there is no hope?
There's hope, but are are we sure that even you yourself is not leaving your own role vacant for others to derive benefits from, or if you're there, wouldn't you worse? enough of complaining and let's start doing something. Complain you say? Is that all you can make of the post? Is it really about personal survival rather than how we can progress as a nation? Could it be that you are among those that see nothing wrong with the country? Well, there is really hope because you are working so hard to make Nigeria perfect for us all. Lol, bro you finished him on this one, you just spoke my mind, I wonder if he even resides in Nigeria seeing all the rubbish we are going through. @Doan9269 you are talking about role, how can the role you play as a Nigerian bring forth good development when the entire system is corrupt ?, even the police we report to in other to act as good citizens most times we become the victim of our own generosity, boss I no go lie u the system dey f**ked up. though I still see point wey u dey make, the country nor be only the government dem dey spoil am both individual leader of any kind sef still dey put hand to make the country worwor. for example after I finish my ND I con go to find IT placement for warri edjeba, all the 5 companies wey I reach dem dey tell me say I must get connection for inside the company before I fit get IT for there, no be say na work I dey find oo, ordinary IT. so wit the wey the country don bad reach I no sure say we the citizens fit do anything to take repair this country, if we say we need change by force e fit result to war and from there the country fit divide or military regine fit take over. the truth be say even this talk wey we dey talk for here nor go fit change anything so make we leave am brothers . |
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There is no such thing as disappearing coins and fake coins.
That is just another scam, they were asking you for 1 u to 10BTC upfront so you could, in theory, send 10 to 1000 fake BTC, of course, there are no such fake coins as any node would instantly reject such a transaction, and disappearing coins...just lol.
The most solid argument that this is fake is that for four years since this scam is around nobody reported such an "attack" in all these years.
What scammers use are low-fee RBF transactions, If you're gullible enough to send your goods or fiat after seeing an RBF 1sat/b tx that might never confirmed even if the sender won't change it then, it's all your fault, not some alien tech hacker.
PS
Remove the links to those scams, some newbies might fall for them.
Please sir I need links for further study to be absolutely clarified on the Bitcoin flasher scam, and thanks for the correction. |
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I want to make this as a simple contribution to all bitcoin users.
The most people that needed it is new bitcoin users,
Always take not of blockchair that enable you know if you have in coming bitcoin or not before rais alarm that someone scammed or beings afraid of the delays.
Sometimes it can take more than 10 hours to receive bitcoin transactions depends on the volume of transactions generally at the time you made yours, secondly those of you that uses bitcoin atm machine, always not that after the sender has comfirm that he has transferred the bitcoins, And send receipt of confirmation, sometimes you may not receive and it not in blockchair, calm down and don’t panic tell the sender to call the Atm machine that he/she transferred the bitcoins from, sometimes they do this to prevent scam And so you can be sure of your payment.
Apart from the volume of transaction which causes delay we can also add sending of fake coins, sending of fake coin looks very real as the sender will even advance to sending you screenshot of payment, and most time these coins will reflect in your wallet but disappear after some days, if you rely only on the confirmation process whereby coins will reflect in your wallet, you are likely to fall for this scam, the name of the app used for this is Bitcoin flasher.
I don't think there is a single person out there besides you who buys coins from a guy who uses an ATM to send you the coins.
The sender might even use the word ATM to cover up for the scam that is, if it is actually a scam transaction. |
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Make we take for instance before and after we get this new naira circulation issue for the country many traders especially for market say dem nor dey accept bank transfer because of scam wet people dey do with am, and no be every body get bank account, so make we relate this one to Bitcoin for we country, e go hard well well for Bitcoin because scam sef don dey for Bitcoin transfer wey go actually reflect for your wallet.
So my point na be say comparing the time it take for one transaction to be validated which is an average of ten minute, e nor go easy for market, Bitcoin cannot fully replace naira note
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According to the law of supply and demand in economics which state that as supply decrease, while demand remain unchanged the price increases. This theory can be used to predict that Bitcoin would be able to ascertain of height of price worth millions of dollar, having this knowledge
Your knowledge is actually not knowledge at all. The available supply of coins grows every day, Bitcoin is now less scarce than it was 10 years ago, you're deeply mistaken the rate at which coins are issued each period for supply, two completely different things. For the supply to decrease you would need to actually destroy each day more coins that are getting mined. I don't think you're understanding my point there, all am saying is that the reduction of coin supply each halving causes scarcity which can also affect the increment of price, this theory is from economics The reason you fill Bitcoin is less scarce than it was 10 years ago is because it has not been globally accepted or its restriction removed, the total number of persons in the world is 8billion out of which 219million are Bitcoin owners with only 19million Bitcoins in circulation and you call that less scarce.
OP: I have one question.
the watermark is... for that your copyright is not stolen...
Wasn't sure if image copyright also add to plagiarism in this forum, I admit am not an island of knowledge just a Jr member and I have learnt from comments that its not necessary, thanks anyway. |
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The league starts Friday, pretty exciting first week matches are waiting for us. Manchester City will do the opener. Even though they play an away game this should be an easy game for them. Burnley finished Championship first and advanced to Premier League. Manchester City is the title holder. They will play each other in season opener. Is this a coincidence?
There's a big quality difference. I expect Manchester City win with a lot of goals. It could be a game where Manchester City intimidates their opponents.
Hahaha  the match would be interesting, man city are most likely to win the game but not sure if they will actually intimidate their opponent, as their opponent would not want to loss their first March after the struggle from wining the championship competition. |
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I was beginning to think of locking this thread since the information passed was not understood by the replies earlier, but it now seems to me that some person have good understanding of the points I tried to pull down.
Thanks guys for your opinion, I have indeed learnt a lot from the links and comments posted.
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Since you have made this conclusion, it's mean you know mining is profitable.
Now I want to see the picture of your mining farm, how much your expenditure and how much the profit you made until now. It's not make sense if you suggest us to mine Bitcoin when you're not know how profitable is mining Bitcoin right now.
I will wait your next reply, just upload your image in third party hosting image e.g. talkimg share the link here.
I don't actually have the capital to start up a mining farm considering the cost of mining machines, electricity bills and other equipments, I wish I had. But that doesn't mean I should not encourage other who are financially capable of setting up a mining farm to do so. Op you have to put the sources of your information because your thread is talking about the historical analysis of bitcoin so we will need to read the sources to tally the information provided. Mostly your pictures.
I have done that, thanks for the reminder |
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In addition, you also have to also consider your financial status before investing because, it is advice to put an amount that will not affect your mental health or your BP should in case the market go bearish, your health is considered the most important.
I guess some members who post on this board may not be Nigerian, but I believe that 99% of members on this board are Nigerians, and as Citizens, they already know how crypto is treated in the nation. As long as every Nigerian user has found their way to the forum and to this local board, I believe they will already know how crypto is treated in the nation. although not banned, but restricted for bank transactions. All I'm saying is that your point has earlier been known by members here.
Bro please calm down, Even if we actually know his points before now there is still a cause for reminder, and mind you we also have some newbies in this local board who registered last month, I believe one of the reason of creating a thread is to also get contribution from others in regards to the topic. |
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The total amount of Bitcoin to ever exit equals 21million and and after this bitcoins have been mined there will be no generation of new coins into the system, and this will causes scarcity (limited supply) thereby increasing its price. According to the law of supply and demand in economics which state that as supply decrease, while demand remain unchanged the price increases. This theory can be used to predict that Bitcoin would be able to ascertain of height of price worth millions of dollar, having this knowledge I recommend that buyers should go into long term holding of Bitcoin as each halving comes with reduction of coin supply. Total circulated coins from 2009-2023 there are 19,452,931.25 total circulation of Bitcoin in the world, remaining 1,547,068.8 to be mined for the next 116 years to come, and after these coins have been mined there would be no more block rewards for miners who successfully guesses the block number, the only payment they'll get at that time would be the transaction fee for every transaction in the block which they validates, and these transaction fee can only profit the miner if the fee surpasses the expenses of the mining farm, and this can be possible when the acceptance of Bitcoin by nations, companies, businesses, etc increase to a reasonable amount whereas also increasing its transaction rate, though miners are now beginning to use renewable energy source for mining so as to increase profit but this will not guarantee their satisfaction. BTC circulation till the end of the halving The current block reward for mining is 6.25 Bitcoin for an average of 10minutes which is regulated by the mining difficulty so that coins are not mined too fast or too slow, the mining difficulty increases if it takes less than a week to mine 2016 blocks while it decreases if it takes two weeks to mine 2016 blocks, This difficulty will eventually frustrate some miners to quite especially when mining reward gets to 1satoshi per block, even it Ai are used in future mining to increase efficiency and speed they can not exceed the mining difficulty. ConclusionNow is the time to go into mining and buying of Bitcoin as each halving reduces the block reward by 2 which causes scarcity that has the potential of increasing price. Source https://www.statista.com/statistics/247280/number-of-bitcoins-in-circulation/ https://www.google.com/search?q=total+circulated+bitcoin&oq=total+circulated+bitcoin&aqs=chrome..69i57j0i13i512j0i390i650l3.17669j0j4&sourceid=chrome-mobile&ie=UTF-8 https://www.coinbeast.com/post/bitcoin-halving-dates-clock-countdown-charthttps://stormgain.com/blog/how-long-does-it-take-mine-bitcoin?amp |
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Well said op, once once e good make we sef dey drop post like this to acknowledge papa God for who em be, when I dey look back from were I come from to where I dey go e dey always dey make me thank papa God for the good wey e don do for me, my brother life nor easy ..... If to say no be the grace of God I no no how e for be for me, I no no about others oo but my God is a big GOD.
join us let's praise this mighty God wey dey pampa
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Op the thing na be say, even men wey hand don strong for the crypto life self dey recommend trader to get wattin go dey back dem up I mean financially, so if you no get any financial back up from work wey you dey do, you dey put yourself for high risk, make financial pressure nor go make you to make the wrong trade, and the worst thing na be say no be even to the trade be the main tin first, na to put head for ground learn intensively, I don see many traders when their own na to wake up for morning go telegram go copy trade or signal and dem never understand concepts and tins wet dey the life of a crypto man, I nor talk say copy trade or telegram signal dey bad oo but at least make e nor be our number one reliance.
Life of a crypto man nor really easy as you sef talk am so make we no look only the advantages as person fit throw away upto 11 million or more under one week
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Buying of Bitcoin would be better than mining as there are other expenses added to buying of Bitcoin
Bitcoin mining profit is determined by the amount of computer power which is the amount of miners in your mining farm an their hash rates, recommended miners are up to hundreds of tera hash per second which cost about thousands of dollar, so imagine you buying 50 miners which consumes kilowatts of electricity.
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@Makus Thanks for the contribution. But I saw a post that said it is even possible on centralized exchange.
Not sure if it's possible on centralized exchange due to its secure transaction nature eg binance exchange is highly secure and cannot be used for flasher scam transactions. |
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Abeg make we come talk am wetin we fit do wey go make bitcoin more popular wey be say e fit pass down to our coming generation
I go like hear wetin everybody get to say...
The only thing I believe we can do is to keep believing in Bitcoin for what it is and what it has proven itself to be, the concept of scarcity ( limited supply ) of coins as the years go by will bring about increase in demand, and this demand will increase year after year by generations to come as Bitcoin gets approved by nations. Also this scarcity will not only increase its demand but will influence its price too by raising it. Considering the merits of lightning network in our next generation one of which transactions would be validated in millisecond. I think Bitcoin adoption would be passed to generations to come. |
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