My people, time don reach again wen we gat ask the question: which way Nigeria?

Nigeria is one of the most blessed countries in the world with a rare combination of a vast arable lands, access to sea, abundant natural resources and mineral deposits, not forgetting the human resources the country is blessed with. Do we really have any business with being a poor nation? How did we become the poverty capital of the world?

The citizens of the country are the easiest to govern. Nigerians are patient with leaders, they are willing to endure harsh policies with optimism and everyly law abiding in the mists of provocations. Only in Nigeria will citizens pay for electricity that they never used and pay taxes that are never used to build basic amenities.

Nigerians are hardworking with firm resolve to survive. Nigerians are self motivated, always looking inward for solution to their problems. The energy and resilience of Nigerians are unmatched anywhere in the world. Anything we put body to do, we dey give our best. What then is the reason Nigeria have not assuming her rightful place in the comity of nations?

The closest answer to this question is leadership as a result of the system of government we practice. Without political will, no nation will prosper irrespective of the resources they have. For instance, China was worse than Nigeria in terms of corruption and what have you until someone came on board and exercise the political will to enact laws that makes corruption punishable by death; this was the turning point in Chinese history.

 In theory, Nigeria practices federal system of government,  a photocopy of the system in USA. But the irony of it is that we copied only the title and not the system itself. States in the US are independent; they make their laws, generate their revenues and manage their resources... only contributing certain percentages to the centre that is incharge of immigration, health, defence and few others. Conversely,  in Nigeria, the federal controls everything making the centre too rich powerful and attractive and this out less check and balance in the entire system. This is the origin of our problem.

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?

Well, changing the narrative is very difficult but possible. To dismantle the system, issue of religion, ethnicity and tribalism have to be addressed because these are the areas they use in divide the people in order to rig the system. If we can have just one leader that will reawaken the nationhood consciousness such that will make eberything Nigeria first before any tribe, culture and religion, then that will mark the birth of a new Nigeria... until this is done, I'm afraid, we don enter the circle of doom.

Tony you might actually be misunderstanding us a little. We are not disputing the fact that Bitcoin is for everyone because almost all of us in this forum will be super excited seeing Bitcoin sit comfortably in the mainstream and being a legal tender in all jurisdiction of the world.This is our utmost aspiration. We were actually talking with respect to the technology behind Bitcoin. You will agree with me that understanding the technology behind Bitcoin will make one appreciate the entire concept as well as the role of Bitcoin in the future we crave. This understanding is easier for the computer age and the tech savvy guys.

The older guys understand and appreciate Bitcoin more from the angle of investment that is why most of those having a firm grip of Bitcoin holding are the older guys because they know how to build and sustain wealth and so far, Bitcoin have proven to be a good source for that. Besides, computer was not started by our generation... there were computer gurus then and I guess the founder and creator of Bitcoin is not that young. So the resonate we mean is in terms of ease of understanding.

It is actually passion-driven. Some of my happiest days in the university was when I could transform polynomial equation and multi-dimensional matrix into computer programs which I can vary the input data to study the corresponding outputs. We applied this in our school work in modeling different engineering systems. It was fun and fulfilling but short-lived. Well, these were basic programing done with MatLab, Visual Basic and Excel. To make a career in programming, one needed to learn more advanced languages like Java, Python, C++ and more; this I could not do because I had to find a job to survive... that was the reality on ground. Besides, the funding for such adventure was not there as I am not fortunate to come from country where there systems grant students access to academic loans. Had I had any means of surviving for the interim then, I would have pursued a career in coding.

I have not actually jettisoned the idea entirely because the passion is still there. So, it is a matter of time before I start all over again.

For me I don't understand the double standard associated with the Niger coup. Similar thing happened in Mali and Bokina Faso yet there were no Military intervention from anyone. Why will they send Military to Niger? Coup was done by Niger military against their president and the coup enjoyed the support of the citizens... this shows it is an internal politics that does not require meddling by any external forces.

What I see with this ECOWAS and other African leaders is dancing to the tune of the West. Most of the corrupt African leaders wear rigged into office by the West, who prefer the worst of us to lead us. So, those leaders are just doing the biding of the West that depend on the Uranium of Niger for goo proportion of their nuclear power plants and ammunition.

Thanks for sharing the article. It is a complex situation that leaves one confused in regards to knowing what really happened. Luke pleading poverty at some point and coming up with this hack story much later actually make people to doubt the veracity of his claim.  One thing I also found confusing is the comment of CZ, Binance CEO, where he threatened to freeze any of the stolen Bitcoin that makes it to Binance...see below.


With the advent of mixers and other privacy and anonymity innovations, how will Binance achieve this?

I actually have passion for coding. I have attempted coding when I was in the university but due to the academic workload, which I could not combine with learning new skill, I had to drop coding. After graduation, I started white collar job which also rarely give me time to do any other thing. So, me going back to coding is a kind of passion driven and not necessarily because I want to do it because of Bitcoin.

I agree with you totally. well, not everyone will be rich. I wonder what will make someone sell now given the activities lined up for next year! They will definitely regret.

You will be surprised to know that in those countries, politicians still lie to the people... just that they might have acceptable limits. Politicians globally seems to have somethings in common as you can see from various comments in this thread. Even in the supposed perfect countries,I doubt if there are anyone that can vouch for their politicians.

Bitcoin be giving us attitude... glad I have huge endurance limit.  Anyone not buying should sit back and watch us...

It is looking like telling lies is the prerequisite of becoming a politician. As a matter of fact, there is a way you will tell lies that people will start suspecting you to be a politician.  How we get to this point in human history is what no one can explain. 
I don't know about your country but in my country, politicians buy over media empires to sell lies and propaganda to the public... I know this is not peculiar to my country. This may be the reason there is a growing distrust between the leaders and the followers.

But is politics supposed to really be about lies? Why is the polity dominating by propaganda?

This is another angle to it...some I know actually went ahead to create their own coin and rarely pay attention to accumulating Bitcoin. So I completely agree with you in this regard.

Wow this is a mistake someone will rue for a long time. 200 BTC is such a big number. I will not be able to forgive myself if anything close to that happen to me. How did this actually happen? Maybe I can learn one or two thing from it.

Glad you confirmed my observation. Your name alone sound techie... pardon me as no offense was intended. People like us that are not deep into computer related stuffs still struggle to make sense of the technical aspect of Bitcoin. We tend to hide when the deep things like entropy, nodes, hash etc are being discussed. Conversely, for someone that is already into programing, Bitcoin will be like home-coming. Well, I guess I will put coding as a future plan... probably when I get some financial stability and get off 9/5 system that is making one work like elephant while eating like ant.

The name mtgox scares me a lot. I hope you were not a victim of their terrible attack? Well, those are the process Bitcoin have passed through... those who were in Bitcoin, experienced the incident of that exchange or heard about it yet continue with Bitcoin are the real MVPs.

This is really and happening in many countries.  Few years ago Twitter was banned in Nigeria for more than a year before it was restored. Same in Nigeria, the media is banned fom reporting the activities of terrorist who have killed people in thousands for the past few years. Those who go against this directives are made to pay huge fines.

If you are outside USA, you will think everyone there is rich and life there is so perfect because the government censors the Internet cum the media. It took social media for us to know that there are poor and homeless people in US and the number is alarming!

So this issue of censorship is deeper than we can imagine and come in various forms across different jurisdictions. 

I made my projection in This thred with a two case scenarios. The conclusion is that the consolidation will linger for a while thereafter a drop to the $26k region or a rise higher from without the deep correction. However,  a little fundamental is needed to drive the rise. All the same, Bitcoin is cheap now compared to where we are going.

I just consider the whole thing a learning process... that is how I make peace with myself. I only try not to repeat such mistakes again.

I must admit that you started your journey well and from the right footing. You knew and understood what you were getting into hence your resilience and resolve to replace your spent BTC. I don't know if you are into computer programming or computer related stuffs because I understand that Bitcoin resonate more with people like that given its technical nature. Well, it is one thing to know and understand what Bitcoin is all about and another to development the psychological maturity to endure and navigate through the various stages Bitcoin have gone through... obviously you got all and that I respect you for.


It was actually LoyceV that made a good thread I was referred to; others also gave wonderful suggestions that are feasible as well... any time you are free just take a look.

I have already drawn the conclusion long time ago that no matter what happens, I must always have Bitcoin. As a matter of fact, Bitcoin will be the major thing I will pass to my children. I made This thread asking for how to pass Bitcoin to heirs and got wonderful suggestions and recommendations including one made by Ratimov. I am already studying the entire process to choose the best line of action.

I started using Bitcoin the first time I heard about it because it was the only feasible option that allowed me send money across borders due to restrictions in FX, Paypal and other means of payment. As soon as I was shown how to do transaction in Bitcoin,I used it at once. Regrettably, It never occurred to me that beyond the beautiful comfort and freedom Bitcoin offers, it could be a treasure worth holding. So, I first understood Bitcoin from the aspect of use case before that of investment. Each time I check my wallet and see the volume of transaction I have made in Bitcoin, I do  feel bad, but then we don't have to dwell in regrets of the past rather than facing the future with optimism.

So I feel I did not start building my portfolio when I should. At the moment, responsibilities have increased thereby reducing the allocation of income that goes into savings( in this case, saving means buying Bitcoin). Well, it is better later than never.

Bitcoin being stocked at a little over $29k is getting a some people tensed... I know that may be the reason for the reactions here. But I have this to say: no need for the aggression, it's gonna be OK.

Anyone who held Bitcoin from 2011 till date deserve standing ovation. It takes a great deal of courage, patience and faith to hold Bitcoin that long. Nevertheless, it is not still late to buy and hold. Perhaps, ten years from now, those who fail to join might be wishing they had joined in 2023 when Bitcoin was $29k.

The future of Bitcoin depends largely on the solution it offers and how well people understand and appreciate same. The moment many people begin to render and receive services through Bitcoin, then we can say we are there in the mainstream. Personally, I heard about Bitcoin because of needs... I had to send money across borders and the only option I could use was Bitcoin because their was restriction to FX in my country.  PayPal, Skrill, Neteller and others was not possible as there was no way to fund them. I was amazed when a friend introduced me to Bitcoin and I was able to settle a payment I had almost lost hope on.
I have also seen a lot of companies integrate payment through Bitcoin and this make them record astronomical sales. For instance, many prop firms such as MyForexFunds and TheFundedTrader that integrate payment in Bitcoin are doing far better than those who rely on conventional payment systems. As a matter of fact, over two thousand people from my country are trading with these firms according to their data.

No doubt, Bitcoin resonate more with younger people... this is expected anyways. The Internet generation will always love anything Internet related so it will be easier communicating with them in this regard. Nevertheless, I know a handful of elderly that have interest in Bitcoin... but it is not worth wasting time teacher the older generation about Bitcoin unless perhaps the aim is to suggest to them to buy Bitcoin for their heirs which is a wise counsel.

I think I agree with you on this as captured in a thread I just made here . I gave two case scenarios: a drop to the $26k region and a rally from the zone it is. However, I am in favour of the later but not almost immediately as there is no fundamental yet to sustain a surge in price.

The market -be it stock, forex or cryptocurrency - does not move in vertical line; The movement is always impulse(upward or downward) followed by consolidation (compression or side-way movement). Market goes into consolidation to build up orders and the longer the consolidation, the more explosive the move will be. It is during the period of consolidation that patience, faith and greed are tested. It is during this time that people despair and give up. But should it be that way? Well, your guess is as good as mine... until you handle your emotion, the market will always defeat you.

Looking at historic data for Bitcoin:
-Consolidation from 10th of November 2022 to 4th of January, 2023 lead to impulse that move price from $16,326 to $23,375
-Consolidation from 22nd of January to 10th of March 2023 lead to impulse that move price from $19,568 to $28,478
-Consolidation from 18th of March to 13th of June, 2023 lead to impulse that move price from $24,750 to $30,700. As shown below, the consolidation have always lead to growth in the prize and this sequence is expected to continue.



At present, Bitcoin have been in consolidation from the 23rd of June,2023 till date, what do we expect? Two case scenarios are possible.

Case 1
A sharp drop in price to $26,000 region to test the lower major zone before the impulse move to the upside in line with the historic data


Case 2
A rally from the major zone that have already been tested, the $29,000 region, and this will see the impulse move to the upside in line with the historic data.


My Suggestion
From the forgoing, I am of the opinion that the consolidation will linger a little pending when we will see a major fundamental that will propel the impulse move. I do not see case 1 above happening as I am tilting in the direction of case 2. Furthermore, from the above historic data, Bitcoin will rise even though the "when" is not known, it will happen. If you are already in, do not panic especially if you have some form of faith in Bitcoin.

Note: This not a financial advice but an opinion you might integrate into your planning if you find the information useful. Always do your due diligence.