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It's very wrong to prioritize your investment over your health. Because only the living have the hope of investing, if you die while prioritizing your investment first, you might end up having a lost coin, if no one is able to locate your seed phrase and gain access to your coin. Though I don't mean living a luxurious life and forget about investment NO! What I mean is, if you're in a position to pick between going for medication or Investing, you should pick medication no matter what. But if you have the ability to go for the two without your investment fund affecting your other financial activities, then go for it.
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Thanks op very important. And another thing we need to look into is that when ever we recieve payment from exchange we should be sure if throughly the money has reflected in our account by checking our balance because their are fake alert this day. People can send fake payment and you are not sure and you released the coin that will be the end which you may not recover your money. I think it is important for one to be sure if the alert is real or a fake alert.
When I receive payment from any p2p transactions be it from exchange or any other business transaction, I always confirm from my bank to see if it has really reflected. No be today wey this scam using fake alert start, if e never happen to you, you no go dey that conscious but me I no want make e happen before I learn my lesson na why I dey confirm first. Then talking about receiving money from. Third party even exchange sef don Instruct other make them no send money to account wey the name no tally with the one wey the person carry create the exchange account. |
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Aside religion even some countries restrict it's citizen from gambling and that is because of the nature of gambling. Most persons believe gambling is for the indecent set of people, like the thugs and all of that. But actually is what and how make use of it that make it have the kind of reputation that others sees in it. Most persons joined the gambling community because because of the kind of wins from their friends or family members. But when a user gets addicted it send a negative signal to those around him.
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Chasing losses is one of the most easiest way to loss all your funds, even become addicted and irresponsible with your gambling. When you begin to chase your loss, you'll start making decision that are not from your right sense of reasoning. You can even gamble until all your money has been exhausted just because you want the old loss back. If you gamble and experience any loss just take it as part of the experience because at first you are advise to gamble with what you can afford to loss with affecting any of your other financial activities.
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If you're poor you shouldn't be betting a single freaking cent/satoshi on any gambling what so ever. It will only make things worse, in almost damn near full probability. Here in the US we've got video poker /slot machine parlors all freaking over the place. There is more slot machine parlors in my city than any other kind of business by far. Not to mention in most restaurants, gas stations etc. If you visit them, the type of people that are always there...poor people. Same as the majority of people who buy lotto tickets and scratch offs. If you're poor, invest that money in your life, in your future, not in a low odds game or chance. When I see people buying a scratch off I can't help but think how much better that money would be spent taking a shot on some cheap shitcoin.
Most times, the reason we fine poor person more in a casino hall is because, the rich are mostly based on online gambling with their mobile phones or PC but the poor, not having free access to this things would want to make use of public casinos. It's true if they have spent those money on a cheap altcoin usually meme that give a x5 or 10 it would be been a good start for them rather than playing gamble and looking irresponsible, they both are based on probability, but the reason gambling is more preferred is because of the quick result it gives. |
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Using my last cash to gamble is not an option because I am not that addicted to gambling. The fact that someone can use his last cash to gamble, is because he has endued himself with the mindset that gamble can make him rich or help him escape temporarily from poverty. Majority who have this mindset of using their last cash to gamble often end up giving it all back to gambling after they must have succeeded their first stake. We often see this kind of things happen when we visit a casino hall.
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One other thing about meme coins is that, since an investor can easily buy millions of memecoin, they can be easily manipulated. Just like what Elon musk did to dodge coins same can be done to all meme coins. Investors could even come together and decide to just buy lot of meme coin to manipulate price to enhance profit for them self, and after they start selling, the price will begin to dump rapidly. This is why meme coins are unlike other coins, and their infinite value is what make it less of a coin for long term investment, as they will not appreciate in price for too long.
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Omor e no get wattin person no go hear for this country about scam, now see wattin people don dey do, them dey go as far as tracking your wallet so that them go use your own wallet address take get you down. Omor na WA oo. So person no go fit just do em business they go like that, anyway Sha we already don know say this crypto network na soso scammers and hackers naim full so at every point in time we suppose to dey careful especially when we wan do transactions. Any money wey you send go, e don go be that, so na you go know how you wan take, take this security consciousness matter.
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Memecoins are also alts.
Sure, memecoins are also altcoins so why would the op make such a statement with all the experience he has here in this forum. Aside Bitcoin, all other coins are altcoins. However meme coins are know to be more volatile than other coins, and that means they can pump rapidly or dump rapidly. So in as much as they make investor become rich, they can also drain make them encounter lots of loses. Due to the fact that memecoins are the current hype, we now have lots of scam project that will definitely become shitcoins after a while, meme coins are short term coins for investment. |
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If you go to the altcoin board right now, you'll see some threads in form of questions like, have altcoin bull started, and most of this thread are created by newbies who heard how some altcoins has given some investors a x100 profit without them knowing the basics of how a this things happen or coin that this things happen to. Its always good to conduct strick research on coin we aim to invest in before making any move for investment and not the other way around.
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I am a small investor. I have some money to invest. How can I invest this money?
Op it's a good decisions you have taken upon yourself to in est in Bitcoin but before you make your investments, there are some basic things you need to know their importance before making investment so as not to loss your money along your investment journey. First I'll like you to know that, after buying your coin from an exchange, it's important that you move those coin to a non-custodial wallet for full access and control over your coin. Secondly you need to know the importance of seed phrase, every wallet has a unique 12 word or 24 words seed phrase which are used to import/export your coins to another device or wallet. Without your seed phrase and your wallet device got stolen or damage, your entire holding is gone. That is the more reason why you need to keep your seed phrase safe by writing it on a sheet of paper and try as much as possible to keep it away from the internet, storing it in a safe would be more preferable but if your want to hold a large amount of coins, then you'll need to buy a hardware wallet. |
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and your explanation will be very much appreciated, and
hopefully this is useful for all of us, especially for beginners like me...
I believe you don't need anyone to advise you again whether to hold or not because from the time you made this thread till now, the price of Bitcoin has increased to more than 200% and this proves one thing, that Bitcoin is a project for long term investment hence you should keep on holding as there are more profits to gain from your investment when the bull run begins again after the halving and price correction. Assuming those who started to hold gave up their bitcoins, by now they would have ended up in regrets, but today their patience has paid them off. |
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Op, here is a book that can help you understand better what Bitcoin entails, and it can also help you understand the technical aspects of it. When I first joined this forum, this is the book that helped my understanding on the entire concept of cryptography and the decentralized nature of Bitcoin. I believe if you read and understand it word for word, you'll be able to grab a lot from it. However in as much as you have come for the knowledge there are other things like forum rules that still need to be ready and obeyed because the consequences of disobeying the rule are tags or complete ban from the forum.
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Earning merit in a post or reply brings this joy that can't be explained fully. Merit are rewards that can't be bought, so when I see a merit in my post it give me the reminder that I am still a helpful poster in the forum especially when you are still in a low rank. Sometimes it feels as though they neglect some quality post of lower ranked member. This is the mentality of some lower rank, though it's not absolutely true but despite this mindset, when you see your post merited you feel among the good contributors but after you have received some amount of merit, the feeling of excitement start depreciating.
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Definitely, if to say them start to hold from when Bitcoin dey the range of $100 them for no talk that kind thing, because them for fit buy up to 100 of Bitcoin and if them get patience enough come wait until the price reach where e dey today so, them for know say na Bitcoin be the best cryptocurrency for the entire world. Some person dey reason am say Bitcoin don too go up na why them no fit invest again, but I believe say, in the next 6 years them go still talk say, had it been I know that time, wey e just beat ATH I for buy. Just as the op talk, the concept of scarcity and price increase when demand remains constant or increase, na one fundamental law wey must take place no matter what, so definitely the price of Bitcoin go increase pass like this. Any amount wey you fit put in, as Bitcoin dey increase, your money sef dey increase with that same percentage.
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Normally working from home is more conducive and and stress free, because most of these online jobs, you have the right to work when ever you choose to, some even pay based on hours you where active, so it's up to you to make your choice whether to receive full pay or just work based on what your strength can carry. From each types of jobs we learn lessons, but the one of office jobs teaches more discipline than working from home. Meaning, those who have experience working at an office are likely to do better when they work from home than those who started working from home and then migrated to working in an office. In this life, exposure matters a lot, and those who get the best of it, are likely to have more experience and wisdom to make decisions.
But anyway I still pick working from home. There are lots of soft skills that pays well, I mean in hundreds of thousands, and some of this jobs are paid on contracts of per hour worked.
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To buy Bitcoin no hard oo, na we just dey think say na one kind big thing. The reason why satoshi dey na because, if you no fit afford full BTC, you go fit buy smaller division wey dey at your convenient. Any amount wey you fit buy, na from your pocket, and you supposed dey proud of am. After I don receive all the lectures wey I need for this forum to by and hold Bitcoin, including the choice of wallet to use, naim I buy my first set of Satoshi. Though e no really big at first, but on subsequent time, I com dey use DCA take they buy wattin I fit afford wey no go affect my nor mal financial life. Many people dey make the mistake of buying so much Bitcoin at first, then when hungry strike them go just start to sell their Bitcoin to fiay to take survive. And that na wrong practice because time go reach when you no go fit hold again because of the indiscipline wey you don set for ground.
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Op no be small thing you do for here oo, you don try. This questions na frequently asked questions, and any site or forum wey you enter e dey very necessary say them make provision for frequently asked questions so that, when new people come inside, e no go hard dem to see say no be only them don get that kind thoughts for mind. And psychologically, that dey help, and e fit give you the answer wey you need to take enter the next level of your learning of holding journey.
For this crypto space we get many type of coins and their categories, but for all newbies the recommended coin naim be Bitcoin. When you hold Bitcoin then pass through everything wey you need to pass through as a holder, then that go give you insight of how other coins be. Though for altcoins you need to do serious research unlike Bitcoin wey everybody don know am as the most reputable and trusted coin for the world. For inside the altcoin network wey get so many scam projects, so one of the way wey fit help you differentiate good from bad na to do research. Though some coins be like wolf in sheep clothing oo, no matter how you research reach you no go fit know say that na shitcoin until the time reach. And that na why newbie supposed start with Bitcoin make them use that holding time take study about altcoins.
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Real matter his country education facility needs update. If you go some of this universities you go see say, most of the materials dey outdated, though I no too blame them because, most of this things wey Dem dey teach us na basics of wattin the updated curriculum go teach, so without learning the basic, there is no way we you can understand the other parts easily. Though we know how over populated our school are, especially now wey the population of the country dey increase day by day. And the worse part na besay, many of them go graduate finish, no job. Na from there some youths take say school na scam. Most times person wey be first class sef, sometime na with connection Dem take dey see job, except say one company go just do online recruitment wey no go dey partial, but even as that, some persons go still use that opportunity take seize slot for their family members or person wey dem know.
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Every human being must make a choice each day neither good nor bad one must be left with a choice to make in our everyday life. And what is choice? choice simply means ( choose) a business person must choose the goods that would give him profit at the end of the day strategy is also a choice, there are different online businesses now you as an investor that wants to make profit from it will know the one you put your finance in to get a profit at the end, same way we have many Altcoin you choose the one to trade and also choose the one to invest in also choose the one for mining. The part you choose to trade on in life determine your success so many people have made wrong choices financially and other way round.
I heard about some one who was given the chance to choose between three times feeding with no pocket money and work that will pay him 60k every month by a soldier who was transferred to his area, but instead this guy chose the feeding I won't criticize it's his choice now what if this same soldier is transferred has this guy not lost everything thing it is as good as from grace to grass, from something to nothing.
So we should learn how to make our choices very well some people might need it urgently but will that urgent taught help you later or you just want to eat your tomorrow today and suffer tomorrow. LET'S BE WISE IN OUR CHOICES.
Well spoken op, this matter wey you yarn so, na real one. Sometimes sef we dey procrastinate some things too much, something wey no go take us 3 hours to decide we go end up spending weeks dey procrastinate when we go stumble upon the investment matter, forgetting say time no dey our hand. Person wey wan invest in any kind of business e goo make e calculate emself first oo, but that one no mean say make e come dey procrastinate when e don already get everything for ground. For instance person wey wan buy Bitcoin, I no go advise make that kind person stay even up to an hour before e buy sef, because if that person really wan invest for long term, e supposed to understand say now price go be like dip in the next 5 years so na now be the best time to buy. While for altcoins, me I no too gbadu altcoins for now Sha, I dey see Dem as another means of gambling. Due to the fact say plenty shitcoin full market, the probability to see better short term project wey fit give you better style x5, x10...... Na 50/50 so I prefer to stay with Bitcoin for now first. That guy wey pick 3 square meal over 60k, I no fit talk too much for em matter because I nor know wattin make am take that kind of decision. Normally na money every body dey go for but for em to pick food, e fit be say the guy get back up somewhere, nobody knows. |
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