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1741  Economy / Scam Accusations / Re: [SCAM ALERT] MillenniaToken - SCAM project promoting bounty on: February 26, 2023, 05:09:26 AM
Just post a bounty and there are hoardes of newbies coming in to join that with POA posts. They dont do any background checks on the manager nor the project. These same people will come back to the altcoin sections and complain that bounties dont pay anymore.

No use trying to contact the manager, they have been doing such scams and will continue doing so in future. Just flag tag and move on. If a newbie falls for it even after so much red paint, then it is their fault.

Flag supported from my end.
1742  Economy / Economics / Re: Money and education on: February 26, 2023, 04:58:31 AM
You wont get money in your hands unless you earn it and to earn it you needs skills and education. Leaving specific countries out of the question and talking in general this is the main idea. Maybe Nigerians are having a different problem but most countries have the need for education and degrees in order to get a job.

If you can set up your own business that is another option to go for but it is not everyone's cup of tea.

Graduates not having job can be an effect of a lot of things. Maybe their skills are poor, if so work on them. Maybe the number of jobs are low in such case get a new degree (which can take years) or move to a new country (sounds more feasible).

In either way the condition of many countries might force their people to move away and I support that because everyone has to feed own stomach.
1743  Economy / Economics / Re: Methods to cut food costs on: February 25, 2023, 03:44:41 PM
Growing your own food is an option but may not be available to everyone on this forum. It is costly as well but can be a long term source of food and income if done correctly. It will cut down the cost of buying the same from the market, however if you are not a professional in agriculture you might not produce good quality veggies like those available in the market, but it will suffice the needs of the family.

Those of us living in cities do not have this option and for them coupons and cashbacks are good but something that is not always available. The companies running such stores would not go into a loss when making a sale everyday would they? You would have to hunt down the nearest supermarket giving the max discount but even then the gross amounts would be similar.

In short, if you want quality food, you have to pay.
1744  Alternate cryptocurrencies / Altcoin Discussion / Re: Why are investors so sceptical about Altcoins? on: February 25, 2023, 03:38:35 PM
Altcoins are in short a risky investment compared to bitcoin.

Picking coins that can perform, well I am yet to see someone who can do that perfectly or near-perfectly, because in reality it is a gamble to pick them. Newly launched altcoins should be observed for a period of at least two years to make the decision of investing. In most cases they will flop before this period.

It is correct to be skeptical about these projects because their products are often non-existant and they lack marketing making capability. With sudden changes in management and silence about development, investors have all the right to be judgemental.
1745  Bitcoin / Bitcoin Discussion / Re: what is your reason for gifting bitcoin on: February 24, 2023, 10:57:31 AM
Gifting bitcoin seems like a noble thing to do but this is not that easy as it sounds. The person whom you are gifting may not understand the importance of Bitcoin, may not live in a country which allows bitcoin to be spent or maybe against bitcoin.

You would first have to get these things cleared with the recipient before you send them anything at all.

Those who are actually interested in Bitcoin would rather buy it directly then hope for someone to gift it to them.
1746  Economy / Trading Discussion / Re: The best time to buy bitcoin. on: February 24, 2023, 10:40:27 AM
This is why we don't know what is the "bottom" of the price, people usually say buy at the bottom and sell at high price, but most of the people who suggested this doesn't know how to determine if the price reached the "bottom" phase or "top" and that's why you have to use strategies and indicators available so you can make sure what to do next. Or just do DCA and forget about the price after that wait for few more years for profit.
The bottom is usually the lower price ranges which have been the points of turning around at any bear market. One can use indicators but they might not be indicative at all times. This needs practice and observations.

Don't be scared when the market falls below the bottom that you predicted. This is why we should have multiple buying points and not lose.

The cycling of the asset is important to keep the money in flow. But remember that spot trading is the safest among trading and that needs good record of past charts.
1747  Bitcoin / Bitcoin Discussion / Re: What can Bitcoin afford to buy on: February 24, 2023, 10:33:50 AM
Bitcoin is a payment option if the buyer/seller would accept it.

But majority of people don't accept it yet. Hence you will find it difficult to pay directly but you can pay through gift cards. The cost of things in Bitcoin will be dynamic with a fiat currency as the base. But this is difficult to say at this point whether this will be done in future.

The best option for you at this point will be to buy gift cards. Wait for your local government to be more lenient regarding bitcoin.
1748  Bitcoin / Bitcoin Discussion / Re: Is it good to accept crypto as a payment? on: February 23, 2023, 02:29:18 PM
Are you guys accepting crypto payments for your business?
This would depend on a number of factors :
1. The legal status of bitcoin in your country
2. The ease of conversion of bitcoin<>fiat in your locality
3. The acceptance of crypto in general goods in your country/ease of paying with crypto.
4. The public opinion about crypto and whether the people you cater to have a chance of owning crypto.

If these responses are good you might want to add crypto to your "list" of payment modes. Dont try to force it on people, you will get counter-productive results. You can include some perks for those who are paying with crypto so that the customers get inclined to it.

I would rather do a survey before doing something so radical. If you are going to run a business you need to run it with payments that are easy for the customer.

1749  Alternate cryptocurrencies / Altcoin Discussion / Re: Litecoin and no downtime till now in 11 years on: February 23, 2023, 02:21:57 PM
It has been 11 years and Litecoin is still running like a champ. In these 11 years, it never went down.
Same with bitcoin, in fact they have never went down the top five. It does not change the fact that Litecoin has been an underdog for several years while it was supposed to be the Silver to bitcoin, while Ethereum quickly took that place and pushed it even below.

While stores might accept LTC, the community has been undergoing attrition. Unless some marketing starts which makes people buy LTC at an advantage it will remain in the same condition. The overall market movements have not been huge that someone might invest in LTC either. I think things will remain like this until someone in future does something to revive it.

All in all, I feel LTC is a good alternative if bitcoin fees become difficult to pay, which is a known advantage. Also it is a reputed currency so can act as collateral for P2P loans in bitcoin.
1750  Bitcoin / Bitcoin Discussion / Re: Are there age limits to Bitcoin investment? on: February 23, 2023, 02:12:28 PM
Overall no, investing in Bitcoin does not require age, but what you need to worry about is with children who are underage, this can be handled it's just that they need someone's guidance as a right path straightener for him, either family or someone who is able to provide full understanding of Bitcoin. what is demanded of them is only daring in overcoming the process of running the market.
This is correct, children should not be exposed to the market which demands a lot of deviousness from its trader. Children should see the good things in life and gradually understand what is bad for them and how to tackle those. If they show interest in speculative trading we can introduce these markets to them but the effect should be monitored carefully.

Difficulty in coping with the market pressure or having a gambling tendency should immediately lead to stopping of all sorts of trading activity. Guidance is important here and the best guide is the parent who knows their kid from inside out.

It amazed me someone still have it in mind. Something from that time must made a permanent memory for you @TheUltraElite?
The change in username, I forgot what your old one was and used this context to remind myself of it.  Cool
1751  Bitcoin / Bitcoin Discussion / Re: Are there age limits to Bitcoin investment? on: February 22, 2023, 03:37:14 PM
Maturity to invest is one thing and age limit is another thing. While there is no age limit to investing in a decentralized asset, there needs to be financial maturity to be able to make proper decisions and this does not come naturally. A background of investing in stocks, commodities, property can give a person an edge over others while investing in crypto.

I would not encourage kids to start investing in bitcoin, but their parents can start doing that if they are hopeful of the future of bitcoin, something like another forum member @BitcoinGirl.Club has done.

This is a tricky situation though, I would rather conservative about exposing young minds to a wild west section of the economy. Definitely needs a lot of maturity considering the number of possible scams going on here.
1752  Alternate cryptocurrencies / Altcoin Discussion / Re: Which is currently the best crypto to invest in? on: February 22, 2023, 03:31:50 PM
I have been a crypto enthusiast for some time now,thou I have lacked consistentency,but over the years I have seen people who have carved out good lives for themselves with crypto,either by direct or indirect investment.,as a result I wish to invest in crypto with cash,but with minimal knowledge,so I seek the help of this house in advise on which crypto to invest in currently as someone who is just getting to learn about crypto currency.
The minimal knowledge of buying low and selling high is enough to make profit in this sector as far as I have seen. But you have to keep yourself limited to bitcoin in that path. Try going for altcoins, there will be no end to your suffering specially if you are going for the newly developed and launched projects, they need at least a good couple of years before being evaluated critically.

So in that sense, bitcoin is the best crypto to invest in. If you want to stretch it then the top five altcoins can be included. But the more you keep yourself limited the better. It is important to choose the correct buying point and have good patience to hold through the process.
1753  Economy / Gambling discussion / Re: Why Do Gamblers Do This? on: February 22, 2023, 03:27:29 PM
why do gamblers tend to wait until they have suffered a catastrophic loss or a string of losses before quitting or seeking help?
I think it is due to the vicious cycle of loss-chasing the loss-worse loss and the denial of the fact that they are having a problem. Indeed accepting the fact that one has a gambling addiction is embarrassing to their therapist and family. This will not improve for those who mindset has the risk taking attitude, but some people understand their problem quickly and seek help quickly too and such people though rare often save themselves from catastrophic effects.

Often it is the family who have to bear the burden, so possible addicted gamblers should keep that in mind and how much of a shock that would be for them.
1754  Alternate cryptocurrencies / Altcoin Discussion / Re: Does Bounty really pay? on: February 21, 2023, 08:39:33 AM
Doesn't this increase the danger of the situation? Currently, many bounty managers do not consider the projects they work on. Additionally, there are no filtering teams for each project on the Bounties (Altcoin) Child board, except for moderators.
The reputed Bounty managers do background checks and thus they were out the worthless ones. That is also the reason why bounties by reputed managers are very few in number, you can understand the rest.

Filtering of teams? The job of the mods is not to discriminate the projects but to remove rule breakers. The job of checking teams lies on the people who have interest in the project. The administration has to remain neutral.

Quote
As of now, the board is still filled with 90% of people who are solely focused on instant financial gain, without considering the consequences of their actions, even though they provide a disclaimer regarding investment activities at the end of their content.
Therefor they get ousted from the rest of the forum sections. Older members rarely give merits and they remain stuck at newbie rank for years.
1755  Economy / Economics / Re: does bitcoin help in your economy? on: February 21, 2023, 08:28:18 AM
there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?
I can spend crypto through gift cards. This leads to less fiat use that I would originally use since earning crypto is possible through my signature campaign while fiat earning is through day job. Hence the two sources of income mean more total income.

This may not be possible in all scenarios. There are countries with difficult to pass legal barriers to the use of crypto and for them this might not be possible.

Holding bitcoin for a better uee in future is another thing to keep in mind.
1756  Economy / Trading Discussion / Re: Is trading good for beginners? on: February 21, 2023, 08:13:26 AM
In my opinion someone who has zero experience of trading on any speculative market but claims to make money easily through trading is trying to fool the person in front. Those who have been trading for years know how the market works but not newbies.

You should not trust this person unless you verify yourself their claims. Chances are the person is a scammer attempting to fool you into giving your money.

If this is someone in real life, verify. If this is some internet username, then block them.
1757  Economy / Economics / Re: Are people really having the wrong concept of savings? on: February 20, 2023, 02:42:30 PM
Savings in the broad sense is for the emergencies. But there are a lot other reasons why saving is done like hoping to buy some expensive item that I need or planning to buy a property and so on.

Expenditure is the regular spending that you would incur over a month or so. This should be kept separate from savings. I dont think there is much ambiguity regarding these terms. How people might be spending or saving is after all their personal choice and there needs to be a limit between the two.

The real thing to keep in mind is that spending should not exceed savings unless in cases of emergency, which should be covered in the upcoming months.

1758  Economy / Gambling discussion / Re: Give it a break. on: February 20, 2023, 02:19:05 PM
Gamblers cant take breaks, that is why they are called gamblers. Roll Eyes

Addiction is such a thing where passion and obsession come into a dangerous combination and this leads to insomniac tendencies where a person continues to repeat the same mistake over and over hoping for a different outcome on the next attempt. This is the reason why gamblers get addicted over time and are spending way more than what they should have.

Giving a break and stopping gambling altogether is the real winning strategy against a casino but it seems like a surrender to many gamblers and hence their brain refuses to accept that. That is why this industry thrives.
1759  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Doge really go to the moon? on: February 20, 2023, 02:12:48 PM
-snip-
The work a celeb is to promote a coin and reap the benefits from it and crypto being an unregulated sector becomes an easy target for such celebs. Today another celeb can come in and say that their product is going to involve DOGE and pump its price and then leave the stage while the moonbois are having an orgasm but they find out the market crashed while they were drooling. Grin

The truth is that no coin is ever going to be big as bitcoin has been, so if you have not sold when celebs were promoting it you have missed the last chance, now you can just hold and wait for some miracle to happen and bring it back up again.

Whether some product of that celeb is going to use DOGE, depends on their choice, but dont bank on that.
1760  Economy / Trading Discussion / Re: who would you trust? on: February 20, 2023, 02:09:12 PM
I will trust the Old trader that passed through so many challenges in the market with many strategies to overcame such challenges in the community. He or she have a lot of experience concerning crypto trading and how to make a huge amount of income in both long term trading and short term trading which he or she is used to such strategies and he or she is fully ready to impact new traders in the community. I will not trust new trader because, he or she has not pass through many bearish season in the community which he or she don't have more potential experience like old trader that passed through so many bearish season to achieved a passive incomes at the end of the investment.
You can listen to their experiences but you cannot trust any "pick" that they might have to offer. Because in a speculative market, one person's loss is another person's gain and therefore you can only trust yourself when taking that decision, besides it is your own money that you are putting at stake.

Someone might be a new trader here but they may have experience in other markets which you might be unaware of so never underestimate any person.

While older traders mostly make money by promoting their own products and courses you will rarely see new traders doing this. Because they have understood that such methods of making money are less more consistent, obviously selling books is way safer than actually trading.
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