You should understand that we have different types of risks, and you can not categorize all of them together. There are minor risks like watching left right and left again before you cross the road, being careful when tour cutting with a knife. Foolish risk is jumping into a lagoon to cool off or trying to save a person that is being electrocuted with bare hands. There are many m other types, but I'll focus on financial risks. I agree that bitcoin trading requires special knowledge, but still this professionals lose their coins in trading despite their accurate predictions of the market, why?  Because just like gambling, they take risk without knowing the outcome of their trade. So luck plays a part too in trading, despite the trader's ability to read charts, he can still lose. In that regard you can say that the bitcoin trader also gambles. The difference that I see between them is that a bitcoin trader needs to diligently learn trading while a gambler might not need any special skills to gamble, but they both face similar risks.   

Dis forum na public space wey plenty people from different parts of di world de meet to discuss crypto and every oda off topics wey de relevant. You go expect say na different ideologies, different educational background, and we de see things differently, na wetin make up dis forum. So there is need to accommodate everybody perspective to raise topics and to make comments.

I believe in due process, we get forum rules and we get moderators wey suppose to de enforce di rules, so na dem suppose put things in perspective for di forum. If topic enter wey e no suppose to, na for dem to comot am put for where e suppose de, if na low quality post, dem trash am put for where e suppose de. Di beauty of dis forum be say e get board for any kind topic, even boards wey no get any relationship with bitcoin.

Personally if I see topic wey I no like na to just ignore am, because plenty options de to join discussion for anoda topic.

Finally for dis our local board, di thing wey go separate topics wey no de relevant to bitcoin matter na to get sub board here wey go carter for offtopics. Because oda local boards wey I believe say we de active pass get sub boards.

Life is about time and chance, what I mean by that is that it doesn't mean that most rich people are smarter than the majority of poor people. If you switch places the poor might manage the wealth better than the rich. We have to understand that money is a scarce commodity to own, and those that owns it are the wealthy, it doesn't matter if they're educated, beautiful or not, if you own money then life becomes easier for you and your family..

To raise capital for business or any other project, requires the person to have the bigger picture of what he wants to achieve, but start with the little capital that you have available, no matter how small. Just be doing the right things, build trust with your customers, clients and your supplies. Have a long term plan for your business and take it step at a time, look out for opportunities to grow and take advantage of them. From my experience as a business person, I won't advice any starter to begin their business with a loan, frankly it'll take luck for the person to succeed in the business, because the burden of loan repayment is not easy. Whether your business is doing well or not, you must repay the loan, in the end the business might just fold up, because of loan repayments. It's better to take a loan when you've started the business and there is demand for your goods or services.

A gambler who has lost  all his money on bet and is willing to collect a loan to continue betting is not someone to loan your money to, it goes to show that the gambler is in the highest level of addiction. Where do you expect a loser to get the money to repay you back, what if the collateral that he'll give to you is a loan from another lender? I think that a degenerate addictive gambler, can not repay a loan, because even if he wins, he'll go back to gambling again, where he'll still lose the winnings and what ever money that he can get hold of.

I believe that it's gangsters that do that kind of lending business to addicts, because if the addict can not pay back, he'll end up working for the gangster. Responsible gamblers will never take a loan to gamble, let alone take a loan to continue gambling after losing in gambling.

I advice OP to look for a honorable business in the future, instead of lending to irresponsible gamblers.

I see your point OP, newbies will see bitcoin as being expensive compared to altcoins, the same amount that can buy 1 bitcoin, will buy many altcoins. Meaning that they're looking at volume instead of value, in the end bitcoin that has value will outlive the altcoins. My understanding is that anywhere that there is quick cash, you'll realize that it comes with greater risks, so bitcoin investment, requires the investor to accumulate and hold for a long term term, and when perfect opportunity comes, like during bull run, the investor sales and makes huge profit.

I'd be careful if I want to choose an altcoin for investment, despite any attractive offer, I can only choose a top altcoin like Ethereum, to put my money in.

The transaction fee is one vital area to consider when you want to transfer a small amount of bitcoin, because the fees alone can eat deeply into your withdrawal, leaving you with little coins left in the none custodial wallet. So it's best to let the bitcoin to accumulate in the exchange's wallet before considering to move it. Recently I tried transferring
a little amount of bitcoin into another wallet, the transaction fee was so high that I had to reconsider making the transaction.

However, the importance of storing bitcoin in a none custodial wallet can not be over flogged, as it has been consensually agreed in this thread. Like the saying, "not your keys, not your coin", this phrase should be a constant reminder that your coin inside the exchange wallet, is not yours and safe 100%. We only need to remind our selves about the case of FTX, to be wiser.

As we de enter halving next year, and we de expect ATH and bull run, after e hapoen, I believe any investor wey wan buy bitcoin now fit to still do so. Although as e be now, people wey done buy and hold before now go surely make profit pass, but dat one no mean say people wey buy now no go follow cash in for di coming bull run. Because anyhow wey e be price suppose de higher dan dis wen e go be perfect time to sale for di bull, so na make we no panic and sale before di actual bull run.

As for prediction of wetin price of bitcoin go be before di end of di year, me I no wan  worry mysef about dat one, because e fit distract me from accumulating more bitcoin if di money enter. As I talk before, price go still de increase till di peak of bull run.

You hold my thoughts in terms of investment in altcoins, because many of them are not worth putting your money into. If I must invest in altcoins, it has to be the these ones that you have mentioned and a few more that have been time tested and proven to be reliable. If I decide to invest in an altcoin now, it'll have to be Ethereum, because I believe that it's the one of the top altcoins that nears bitcoin, in being reliable and time tested, where their investors have complete trust in them.

Shitcoins have made investors to categorize altcoins as worthless, but truth remains that there are few of them that are worth inventing in. I've been enticed a couple of times to double my profits by investing in some new altcoin, but in the end I'm always skeptical about them, i feel more comfortable in bitcoin investment.

There'll be less risk for me to invest in Ethereum, when I'm ready for altcoins.

Without making a comprehensive long post about why bitcoin is king of all cryptocurrency, you have simply summarized some of it's outstanding attributes. Bitcoin is the first crypto and it introduced decentralized digital currency into the financial system, it has no boundaries. Unlike fiat, that the printing of it's currency has no limit, bitcoin from creation has already been given a limited supply, very unique. The bitcoin p2p transaction is the first of it's kind, that does not require any centralized influence, except by choice of using exchanges. Many investors in bitcoin, have become richer, because of it's potentials, as a business currency.

Bitcoin is a pacesetter for altcoins, it stands on it's own as "the king" of them all. Altcoins follows it's patterns to have relevance in the crypto market.

If China, is maintaining a great image it itself in front of the world but have a different reality inside, then they're doing a great job in concealing what really happens in their country. I say this because, the impact of China, to the whole world in terms of manufacturing can not be overemphasized. I believe that there is hardly a home in the whole world where you will not see a Chinese product inside. China, is among the world power and has a robust economy as far as I can see, although I've not been to the country before, but I feel the impact of their economy because of there massive exports to other countries.

I must applaud China, because it's not easy for a country of over one billion people to sustain it's economy and still have surplus to export  to other countries. So with that kind of population explosion, it's to be expected that it won't be easy to switch jobs, in fact if not for their industrialization, they're supposed to have the highest number of unemployed and restitutes in the world, because of their explosive population.

OP should have been more explicit in his post, because like you, I don't know Whetter he is talking about bitcoin or altcoin. I guess he wants members to convince him on why he has to buy now, perhaps he's afraid that if he accumulates the coin that he has in mind now, that maybe price might most likely start to dip. He probably didn't put the question right, he's still a newbie, i know that with time, he'll learn how to be constructive in his posts.

My advice to him is that it's better to buy a coin when there's a price dip, so that he can sell when price pumps, or just hold for along term as an investment and target bull run, to sale.

Finally I'll advice him to concentrate on accumulating and holding bitcoin for now, because of the coming bull run.

Your case is a perfect example that a person that understands risk management can perfectly gamble and trade bitcoin. I believe that your risk experience in gambling before starting bitcoin trading, must have prepared your mindset better when you were starting out the trading. Now you can combine the two without much stress, but I doubt that the  same thing can be said about a person that enters trading without any risk experience. Although without any prior experience of risk, a serious person that enters bitcoin trading can Learn on the job.

As you have said, it all depends on the capability of an individual, some can combine both, like you, some can only focus on one to minimize risk, while others will not consider either of them because of the risk factors in both.

Personally I think that for someone to make it in life, that there must be a sort of risk, no matter how minimal that you have to take. The level of risk varies, depending on what you do.

These two sectors are very important to our survival and they are interdependent, one sustains life and the other helps make life easier. But if i must choose the one that is most important amongst the two, I'd have to go with agriculture, because it sustains life, not taking away the vital role that oil plays in machinery to help make work easier for mankind. All the machineries that make agricultural work to be easier are operated by man, and he needs food to survive and have the energy to operate the agricultural machineries.  Therefore I'd say that we can survive without machinery which uses oil, but we can not survive without agriculture that produces food to stay alive.

Then for export purposes, a country that has oil can export to a country that's rich in agriculture, and if they have food deficit, they can import food from the agricultural country. The world is also interdependent on each other to function ultimately.

Thanks OP for the enlightenment about the importance of bitcoin investment, instead of real estate investment, inside Nigeria. Because of the halving, ATH and bull run wey we de expect from next year, talk of investment in bitcoin to cash in for di coming bull run, don become hot topic for di forum. So yes, as e be now person fit forgo real estate and oda lucrative investments to focus im funds to de accumulate bitcoin de hold for di coming Joly season.

Aldo i understand say you de try give di impression say e de beta to invest in bitcoin pass real estate, but your comparison no de fair. E come be like say you de generalize real estate, based only on your area, wey we get other areas wey flood and oda things wey you mention no fit happen for inside Nigeria. So di comparison no suppose de biased, real estate, just like bitcoin, na very good investments dem be, just dat as e be now, based on say we know wetin de about bitcoin matter, because of di coming bull run, e dey advisable for us to invest in am now.

All di same I applaud your faith in bitcoin say na confirmed investment wey person fit rely on to make plenty profit, and na so e be.

It's true, the advice is not just for beginners but for every member in this forum, even if you know the right thing to do, reminders won't hurt anybody. I agree very much that this is not the time to start chasing after a short time profit, its a time to see the bigger picture and embrace the long term which guarantees massive returns on investment. What's more interesting is that this long run is around the corner, halving, ATH then bull run, a long run has been cut short by nearness of time. Accumulate and hold bitcoin, till bull run, no need to for a none knowledgeable trader to take chances at accumulating bitcoin, through trading, the risk is much. To invest now carries very minimal risks, because price can slightly dump and pump, but the key is to focus on the coming bull run to cash in on huge profits.

You just analyzed what actually happened in this sudden pump and dump of bitcoin price, within a very short record time. This goes to show that some people greatly influences the price of bitcoin, and they're the whales as you have noted. They can create panic in the crypto space and many investors will rush and sale, leading to surplus supply in the market, where the impact will be massive dip in price, and they'll just accumulate as much as they can. When bull run comes, they'll cash in heavily by offloading the excess accumulated bitcoin.

With my experience about how the bitcoin market works, I'll not sale my bitcoin when we're expecting ATH, I'd take advantage of even fake news to accumulate bitcoin if price dips. The market is about buy low and sale high, that's what i look out for in a season like this.

You have to understand that people have different reasons why they gamble, so gamblers are in different categories the way I see it. Although I believe that we have a lesser percentage of the rich that gambles, followed by the middle class, while the lower class gambles more. The rich gamble mainly for fun sake, it doesn't matter if they win or lose, while the middle class can be a mixture of both having fun and a means to increase their income, but the lower class and the poor will be mainly as a means to make money. This analysis might not be accurate, it's just the way i feel that different classes of people gamble. The rich can gamble with the intention of accumulating more wealth, while the poor might be for fun, but it's very unlikely that the poor will gamble for fun sake.

In my country, due to the economic hardship, people tends to look for a means to escape poverty and some see gambling as the gateway to attaining financial freedom.

In conclusion i will not gamble because I do not have sufficient fund, I can gamble for fun with an amount that i can afford to lose. Gambling for financial gain is risky, because in most cases you're relying solely on luck to win.

Merit and activities de different, but dem de work hand in hand to show your level of posts and ranking up for di forum. As members for dis thread don explain give you, activity de de updated every 14 days, meaning say fourteen of your posts go court as your activity, no matter di amount of posts wey you make. Some of your posts fit to de rejected and dem no go count for your activity, I believe say di activity de help to immediately know how many days wey you don de for di forum, dat is if you de active for di forum, exception of those wey dem merit pass activity. Lastly if your merit pass activity, e fit slow you down to rank up, unit your activity increase reach di certain level. Merit na di main koko to rank you up for di forum, na im de determine your rank up for di forum. Somebody don share the chart to show how many merit wey you go get to reach a higher rank and di title of di rank. You no fit merit your sef for di forum, na anoda member wey get smerit to give fit merit your posts. If a member see your post and im like wetin you you write, maybe the quality of your post or di style wey you take deliver di post, im fit reward you with merit. Na so di matter be, as I sabi reach.

Good luck to you as you don emberk on di journey to ranking up. 

I agree that you don't have to wait for 20 years before you can make significant profit to sell your bitcoin. Halving is every four years, followed by ATH and bull run, they are perfect times to sell, you can just target one of them to cash in on your investment profits. Of course you can wait for 20 or more years before selling your bitcoin, especially if you're younger and have target to achieve a project in the far future. But it shouldn't be just because of geometrical increases in price that'll make you wait for that long before selling.

I wouldn't worry too much about when the last bitcoin is mined, whether there will be scarcity and price will skyrocket, that is a very long time, I'll be happy to hop on any bull run that suits me and cash in. Repeat and start investing again, that's the cycle for me.

I believe that binance, being the number one exchange, has nothing to do with monopoly, because there are other exchanges that exists and are doing well too, like remitano. Binance is at the top because of their excellent services and integrity, nothing more, and therefore customers are more interested in getting delightful services from them than worrying about if the exchange is manipulating other exchanges to go down or delisting some crypto coins. When you have confidence in a company, you'll want to believe that every measures that it takes will be to the advantage of their customers. Investors care more about where their money will be secured than how the exchange treats their competitors. It's a normal thing in business, the big player wants to crush the ones under to remain at the top.