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Na true you talk we really need more of cryptocurrency related discussions for dis our board, because na im go help new members to de learn and sabi about bitcoin pass. Even for di established members di relevant discussions go also de refresh dem memories about bitcoin, because out of sight na out of mind. Also we go de get new ideas join di ones wey we get, based on say di forum na about bitcoin talk. Person like me wey no get any idea about bitcoin before I join dis forum, na here I start to gradually gain every knowledge of crypto matter wey I know, so if no be plenty bitcoin discussions wey de on ground for me to de join di discussion and learn, I no know where my level for de about bitcoin now.
Aldo off topics discussions de OK for our board too, so we go de de informed about oda things wey de happen for our country. But di topics no suppose pass bitcoin related discussions, so people wey visit di board go know say na bitcoin matter be di koko for here. But I no know di possibilities of getting off topic sub board inside our local board, dat one for make am very convenient, so members go know where to direct any topic go.
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For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.
Bitcoin na him be the koko, e give everyone financial inclusion and e no dey restricted by age, gender or territory. E put power in the hands of the people, no entity fit control or manipulate bitcoin na him make government dey see am as threat to fiat. A remember back in days, if person wey dey obodo oyibo send you money, na always big challenge to collect the money, the process dey time consuming and this na after banks don carry out their verification checks. But Bitcoin don make everything dey easy for everyone, the transaction dey transparent, faster, better and e don eliminate the need for third party. E help many businesses strive as you fit buy something from abroad and pay with Bitcoin. Many Nigerians wey dey work remotely dey use am as a medium of payment for their services and e also give people wey dey into Bitcoin trading a source of livelihood. No be lie, di decentralization of bitcoin, na real blessing e be for Nigeria, and any oda country, because e no get restrictions, nothing like say any country or entity de control or manipulate am. Anywhere wey di holder de for dis world, di coin no get any restrictions or barriers to take am make transactions. So no matter how naira de devalue e no get any effect for di bitcoin wey de inside your wallet. Plus you fit de trade am as a business, or de invest am on a long term and also make profit. Dos days wey we de hear of money gram and western Union money transfer, person go send money from abroad and you go go bank to collect am. With bitcoin, nothing concern you and bank, na for di person to just run P2P with you and your bitcoin go enter your wallet directly, no third party. |
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Is there anything that is can bring money that doesn't have any risks? Even starting a business is risky, we are also living on borrowed time, having a heart in us is risky, going to work every blessed day and having to take transport down to work is risky, what is not risky in this life? Nothing.
In every aspect of life there is always risk involved, not only in monetary matters. If you want to cross a busy expressway and you don't take your time to calculate the speed of vehicles before crossing, then the probability of being hit by a speeding vehicle is very high. Same thing applies in bitcoin, anybody that wants to engage in it's trading or investment should have accurate knowledge of how it's done and take into account of the risks involved too, because bitcoin is decentralized and you can't hold anybody responsible for any lose or mistakes. I can not access my first bitcoin wallet till today because of ignorance. I had some btc in it and after some months when I wanted to sell it, I realized that I have misplaced the sheet of paper where I wrote my passwords and seed phrase. I still look at the btc from time to time in the wallet but I can not access it. So the bottom line for me is to acknowledge the risks involved in anything that I'm doing and try to avoid being a victim of it's consequences. |
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Sha, we all can't make the same choices, and I think it all depends on personal goals and likes.I really love real estate, so I can't pick BTC over it. We all know there are lots of gains from owning a land, house, or estate. It's the only asset that doesn't diminish.
I still prefer property far above btc investment. Me I believe say btc bull na temporary and if you no sabi when the bull don expire, omo na next 4 years you go expect your profit, depending on how much price you take buy or you sell in lose. Dem two na good investment options, because na where you go put your money and you go de sure of returns on your investment. So for me to get di one wey go de sure pass for my side na to consider factors wey go give me advantage pass for inside di two. One outstanding advantage wey I feel say real estate get pass bitcoin be say di former no de stressful like di latter. You need internet to de check weda bitcoin, de enter halving, ATH, bull run, chart to predict di market weda price de pump or dump, real estate, na to relax and de sure say anything wey you wan sell, high probability de say di value don increase and you go make plenty profit. Anoda advantage of real estate investment be say you fit bargain price of your property and sell to di highest bidder, but you no fit to bargain price for bitcoin, na wetin di market price be at di time wey you wan sell, na im you go collect. |
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Nigeria Youths services corpe the aim why Nigeria government introduced NYSC is to bring Nigeria back because of Nigeria war that happened in the past and I think it has reached to a point that they need to remove youths services because nothing good is coming out from the youths services of Nigeria, instead of government of Nigerian to retained every Nigeria youth that served Nigeria, they pushed them away after youths services, many of people who served Nigeria that went for nysc is dead and some is in prison yard and some is criminal and some taxis and tricycles drivers.
Di aim of NYSC wey be to unite Nigeria, back after di civil war don de defeated because of di insecurity wey de happen for some parts of di country. No graduate go de willing to serve in parts of di country wey insecurity de, because dem no want to be kidnapped or even killed. So for dis reason alone make me to de get a second thought on di relevance of di scheme, because of di wahala wey de di country. Anoda reason be say if dem post coppers to a state wey dem no like, na so dem go bribe to put dem for dem preferred state. So if a copper go fit to decide where im wan serve, den di original plan of di scheme don de defeated again. Me I for prefer say make our government make di NYSC service to de optional, so fresh graduates go decide if dem wan do di service, instead being mandatory as e be now. Because as some graduates no need am, others de look forward to di service. Because of di high unemployment rate for di country I no surprise say many graduates go like to go for di service, to enjoy some government alawi for one year before dem go come face di hard reality of unemployment wey de wait for dem. |
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Nigeria, no ban cryptocurrency, na CBN restrict banks to de facilitate crypto transactions. If our government ban crypto matter, dat one for mean say exchange transactions for de illegal, but no be so. So for di regulation matter, me I support am, e go de better say make our government de collect tax and make CBN free our banks to de facilitate crypto transactions. Anoda advantage of regulation be say e go put to rest dis misconception say Nigeria, ban cryptocurrency, and dat one go help to boost di adoption of bitcoin, for di country. Also di harassments wey our youth wey de into crypto business de face for di hands of our law enforcement, like say na yahoo dem de into go stop.
As charles-tim, talk, e go de good say make our country and our citizens de benefit from exchanges, because dem de make money from plenty crypto transactions inside Nigerians. So na through regulation all dis things go materialize.
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Naija local board
This is the list of links for my second submission
I couldn't find your first post/submission. Naija local board
This is the list of links
That is my first submission. I know you are a busy person that is why I had to search it quickly by myself. Thank you for your good work for the local boards. |
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I don de reason dis matter for some time now, na im I come say make I troway am for here make una follow chuk mouth. I know say wetin bitcoin investment and real estate investment get in common be say na long term assets dem be, so dem purpose na to sell on di long run and make profit. But na which one get advantage pass? I go list some similarities and differences bellow.
1: Investment capital, person fit to personally decide di amount wey im wan take start bitcoin investment, but na anoda person go de decide di amount wey im wan sell property for you. So e de easier to enter bitcoin investment pass real estate investment. Most times real estate require plenty money, while you fit start bitcoin investment with small money and latter de grow am.
2: Risk, because of bitcoin volatility, im investment de risky and e no easy to accurately predict di Price, meanwhile e de certain say as time de pass real estate go de appreciate for value. So all things being equal, real estate no get risk like bitcoin. Except in rare cases wey natural or man made disaster happen, or dispute de di property.
3: Dual purpose, bitcoin for inside wallet be fixed asset for investment level, na also working asset e because na currency im also be, so dat one mean say you fit to spend am directly take make payments. But real estate, na only fixed asset im be, so you need to sell or exchange am first before you go fit use am purchase anoda thing.
4: Scam, dem fit play person wayo for both of dem. Scam de for bitcoin P2P weda na directly or through exchanges. Also scammers fit present fake documents take sale property for you. Di lesser evil of di two na real estate, because for dat one possibilities de to trace di scammers either through electronic means or through di authority, but e no de possible like dat to trace scanners for decentralized bitcoin.
5: Profitability, real estate investment de guarantee peace of mind, except for disasters as earlier mentioned, and di probability of di asset to de increase in value without depreciating de very high. On di oda hand if person fit diligently learn about di technicalities wey de inside bitcoin investment and de apply am, despite di risk involved im still de very profitable.
In conclusion me I feel say real estate get more advantage pass bitcoin, because im get lesser risks and you no too need special skills to enter di investment. So I also feel say e de better to use di profit of real estate investment to start bitcoin investment, because as di saying goes wey I don learn for dis forum " invest what you can afford to loose in bitcoin". Abeg na wetin una think?
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But both are risky
Some people are using trading to gamble and all about them is to gamble with it like throwing a coin to show between up or down
As their is gambling addiction, also there is trading addiction
Discipline is required in both
Truly forex trading and gambling share one common factor wey be risk, but dem types of risks de different. Gambling risks na mainly to try your luck, just like you analyse, to trow coin up in di air wey you no go fit predict di side wey go face up wen im land. Aldo some types of gambling like sports bets, require some extent of prediction, like di team wey you feel say dem get more chances of scoring and winning in a match. While forex no too de determined by luck, im own risk na di ability to study di forex market and know di determinants like supply and demand of currency wey you wan pair, to read news and know events wey fit to affect di price of currency. Forex require special skills to learn how to trade am, odawis e go became gambling. While normal gambling be say you fit to wake up one day and and decide say you wan go try your luck or just predict say dis team go win. Di major thing wey differentiate dem be say gambling no too require special skills, you no even need to de enlightened to gamble, while forex trading require say make person de enlightened to understand how di market de go, weda e de favorable to to sell or buy currency. |
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Big companies still de spend plenty money de advertise dem products, evendo say dem products de very popular and everybody know dem, so dis information no be for newbies alone, na for everybody. Evendo say every member here suppose know wetin de about di activities of scammers, weda for fiat or cryptocurrency. Because faith comes by hearing , no matter how many times wey we don hear or even experience am, we suppose to constantly de remind ourselves, no matter how many times.
For dis technological age, person suppose de very careful about enticing links and calls wey de promise rewards, weda na financial, gifting or even help, because of di activities of dis scammers. Infact na to treat certain calls and links wey enter your phone as suspects. Some go even call you as your friend or relation and de tell you one story of how dem take de stranded or inside hospital, if you panic go ask weda na certain person be dat? Dem go say yes, claim to be dat person and send you pos account number to transfer money, later your eyes go come clear say na scam.
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Di situation of Nigeria, now no be joke, our currency just de devalue everyday. Di purchasing power of naira don reduce drastically, even di salary wey government just increase sef no help matter, because di extra money no fit make any impact for di lives of di recipients. So di matter now be say everybody wey de Nigeria, suppose plan dem personal income by cutting cost of expenditure, because if you de spend according to your income, di way wey you de spend before, you fit run into dept.
As e be for di economy now, e go help if people get alternative sources of income, because di income wey dem de get every month, no go fit carry di purchasing power again. Who get savings fit to invest am instead to leave am inside bank, examples na to invest in bitcoin, just get di wallet, hold some coins inside, if e appreciate you fit sell di profit and leave di capita there. You fit learn one skill join di one wey you get, like tailoring, berbing, plumbing, electrician, cable installer. I get many young guys for my area wey de into online marketing, website and artistic designs for computer and internet. Person fit start any of dis works on a part-time basis, to escape poverty for di country. Even as Macus, talk, if person get land for di back of im house, im fit plant things wey go grow and im go consume and even sell some wen em harvest di crop, dat na alternative source of income too.
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My guy unless you dey talk regards to hodling bitcoin but wetin me I dey talk na say for trading it on a daily. So for IMO oo, if you use gold against USD, or silver against USD, or pounds against USD, I no think say btc dey volatile pass dem on ROI wey dem dey give traders. Me I no be trader but I dey watch these two different markets from time to time. At least if you don see jeffery benson video you go fit relate with wetin I dey yarn.
To compare forex like those USD with bitcoin, you will use bitcoin leverage in the future market to do that. I do not know how you use pips or lots or what it is called in forex to compare the leverage in bitcoin trading in derivative market. But no matter what, bitcoin is still more volatile. Let us use spot market as an example. Go to Binance, you will see these pair: - BTC/USDT
- GBP/USDT
- PAXG/USDT
USDT to be the equivalent for dollar GBP is pounds sterling PAXG is equivalent for gold Trade them all with no leverage and see how bitcoin is far more volatile. The leverage forex traders are using to trade is what that gives the volatility in forex. If the same leverage is used with bitcoin which you can see in derivative market, bitcoin is more volatile. Crypto generally are more volatile than fiat. What makes forex volatile is excessive leveraging. From my experience in di study of bitcoin, I don learn from various links, from crypto experts and this our forum say bitcoin de very volatile. In fact volatility de synonymous with bitcoin, even as a layman dat time wey i no too sabi di technicalities wey de for bitcoin, I don de hear am. Di sincere advice wey any learned person for bitcoin go give be say di coin de volatile and no be get rich quick syndrome, meaning say risk de involved well well. Aldo di advantage of bitcoin volatility be say if person diligently learn bitcoin and sabi all di technicalities wey de inside, e de more profitable dan forex. From my small research I find out say forex de more stable than bitcoin, because of di various regulations wey de guide di tradings. |
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Forex trading na where dem de sell and buy different fiat currencies for centralized foreign exchange market. While bitcoin and oda cryptocurrency trading na digital currency wey dem de buy and sell for decentralized exchange. So bellow I go list di differences between di two and which I feel says get advantages pass.
To add to wetin Antotena talk, Bitcoin or cryptocurency trading isn't done only on decentralized exchange (although that's the idea advice to avoid been subjected to regulations on centralized exchange like mandatory KYC verifications). Exchanges irrespective of their types are like broker for a cryptocurrency trader, they're the platform which we use for trading our cryptos dem. Centralized exchange oh, Decentralized exchange oh can all be used to trade Bitcoin and other cryptocurency available on their platforms. The difference between Forex and Bitcoin trading na the type of currency Involved in both trading because Bitcoin na for cryptocurency and fiats na for fiats currency. As you talk about the risk come dey talk about hacking, forex get more risk because forex uses a centralized system wey be say everyone need to deposit their money into the broker before you fit trade Forex but you can trade Bitcoin directly form your wallet through P2P without standing a risk of hack. But this one no mean say your own wallet no go fit dey compromised but if you take the necessary precautions you no go get that problem. 4: Accessibility, you fit trade forex directly or tru a broker. While bitcoin de less liquid and e require say make you get wallet and exchange account. You dey use only Bitcoin which gives more Pros to Bitcoin trading because Bitcoin can be traded without the need of an exchange or an escrow because you can trade Bitcoin P2P without any third party or platforms and that's the real P2P. That local P2P wey you dey do with vendors without needing an escrow that's the main P2P and you can trade Bitcoin that way or other ways using other decentralized exchange platforms. When it comes to accessibility, Bitcoin trading dey more accessible than forex trading. And for the discussion since no be about cryptocurency but Bitcoin, the main difference between Forex and Bitcoin trading na say Forex trading na the biggest market in th world and has to do with trading different currency but Bitcoin trading na just one cryptocurency trading. When you talk about cryptocurency trading na when you fit compare the two small but forex go still get the upper hands when it comes to volume since the market no start today. Na true say no be for only decentralized exchanges person fit to trade bitcoin, you fit also trade am for centralized exchanges. Only be say na for decentralized exchanges di originality de, dat na why I focus emphasis on di decentralization, say make I talk on where dem no get comparison. As you talk am say centralized exchanges for bitcoin de serve as brokers de serve for forex, so di two get similarities, unto say na third parties dem be for trading matter. But bitcoin in decentralized exchanges de more unique, and direct P2P no de involve anything centralized. Also bitcoin de very accessible in dis regard wey you emphasize, because with direct P2P you don bypass every centralized third party. Aldo im get im own limitations wey be say barrier no de to prevent or reduce the possibilities of scams, meaning say you de on your own if di other person scam you. Unlike using exchanges wey fit to drastically reduce the chances of scams. For di fact say bitcoin give more freedom to operate, and say im no de tied to any particular government because im de decentralized, go make am to be more accessible for trading pass forex wey carry plenty government regulations. |
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Scam de for anything money matter, weda na crypto or fiat, so person suppose shine im eyes well well where e concern money. Person suppose de even more careful for crypto transaction pass fiat sef, because fiat get central system wey fit try trace how scam transaction take waka, but bitcoin de decentralized and if scam happen for transaction, I no sure say anybody fit track am. So di thing be say if person de do any money transaction, na to cool down no rush, to avoid mistakes, because di moment wey you press send, di money no be your own again.
I don get experience wey one man and woman park big jeep enter my shop, dem dress in very expensive clothes. Every goods wey dem touch, as I de tell dem di prices, dem no bargain, in di end I give my account number and di man say im don transfer di money and show me di alert for im phone. I no see di money for my account and based on dem packaging i no even doubt di man, I just tell am to send di payment receipt for my phone and carry di goods de go. Di man and di women begin to form vex say why dem go send me di alert wey I don see alert for im phone, me sef i insist say make di man send am. In di end im say make I keep di goods and im go send im driver di next day with a note to collect di goods. Till today I no see driver I no see money for my account.
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Once upon a time na foreign exchange trading wey be "forex" na im be di currency trading wey people de trade. In recent years bitcoin come enter di currency trading. So na wetin be di difference between di two and which one get advantage pass? Make I first define dem in simple terms. Forex trading na where dem de sell and buy different fiat currencies for centralized foreign exchange market. While bitcoin and oda cryptocurrency trading na digital currency wey dem de buy and sell for decentralized exchange. So bellow I go list di differences between di two and which I feel says get advantages pass. ,1: Regulation, dis one mean say to a large extent bitcoin no de regulated, so di traders inside get more freedom to operate without central authorities interfaces. While forex de regulated, di central authorities wey be government, de decide di framework of how dem de operate. 2: Liquidity, bitcoin de less liquid because e never de universally accepted for now, and people no fit to easily spend am. Whereas forex de more easy to liquidate because you fit to easily convert fiat to another fiat and fit to easily take am make payments. 3 Volatility, bitcoin na currency wey de experience highs and lows within a short period of time, so dat one make am to be volatile. Also plenty bitcoin de in di hands of a few individuals wey be whales, and if any of dis big fish come sell dem bitcoin, e go sharply affect di price. While plenty big traders de inside forex, and di volume of trades for forex pairs no de make am experience volatility like bitcoin. 4: Accessibility, you fit trade forex directly or tru a broker. While bitcoin de less liquid and e require say make you get wallet and exchange account. 5: Risk, aside from di risk wey de for bitcoin volatility, if hackers find your access keys, na to clear your coins wey de inside your wallet. Whereas di main risk wey de inside forex na di factors wey de affect currency pairs, such as di exchange rate wey de differentiate di two currency. I carry small research from did link https://www.ig.com/en/trading-strategies/forex-vs-bitcoin--what-are-the-differences--190321.amp#aoh=16961574448631&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24sAs for di one wey get advantage pass, as e concern to make money between bitcoin trading and forex trading, aldo risk de more for bitcoin, but if person learn di techniques of how to trade am, bitcoin na im sure pass. Because di end wey go justify di means na to make money. Forex na di biggest market wey de for di world and im don already de established, compared to bitcoin wey just de start. I believe say with di fast adoption of bitcoin by individuals and as some governments de also adopt am inside dem currency, im go soon pair with forex. And as di world de became one global village, bitcoin wey bi digital currency wey no get boundaries go take over. How you see am? |
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To help protect important information wey de for your phone in case of theft, na to create password for your simcard, just as you get password for your phone. If you visit your network provider, dem go run am for you. Because thief fit steal your phone and if im no fit get di password, na to put your sim for another phone and collect di vital information wey dem need to steal from you.
As e concern bitcoin, no matter how secured wey your phone de, with all di codes, e de better not to take chances of storing your seed phrase for inside. Because as we de get technological innovation everyday, na so scammers sef de upgrade for dem techniques to steal people vital information to defraud dem. So i stand with wetin cryptopreneurbrainboss, talk, na to store di seed phrase for USB, wey you no go de carry waka, na dat one na im de secured pass for me.
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If the government wey be di public sector no encourage di adoption of bitcoin, normally na di top players for di private sector like Dangote, Elumelu, Adenuga, even top entertainers like Don Jazzy, Davido, just to mention a few suppose drive di adoption. But as i de see am, di fear of di government fit be di beginning of wisdom for dem because maybe dem no want di government to de see to dem matter if dem first di government to de use and accept bitcoin to run dem businesses. Aldo i no go de surprised if these billionaires de codedly run bitcoin things, because di decentralized digital currency guarantee privacy where dem fit keep dem money without any centralized authority go de monitor.
If dis top private sector players fit take di bull by di horn and de accept bitcoin for dem businesses, e go really go a long way to promote di usage and investment of bitcon for inside Nigeria. Di move go definitely challenge our government to fully adopt cryptocurrency, and remove di stigma of CBN ban, wey de discourage most Nigerians about bitcoin. If dis one happen bitcoin go blow for naija.
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Normally e de good to help people by showing dem di way wey you de take make your money, but because of character of many people and di wey dem de take bad and evil pay person for good, e de better to shine your eyes before you go show any person your way. Besides no go take wetin de precious go wear pig, because im no fit know di value, instead na to rubbish am. Meaning say no go share important financial information with person wey no deserve am, because im go rubbish di precious financial information and rubbish you join.
For bitcoin matter, no be everybody I de share di knowledge with, na only people wey I see genuine interest in dem say dem wan learn, wey at least dem get some knowledge about internet. I go make sure say I educate dem as I sabi reach about di gains and risks wey de involved for bitcoin. So person wey i do good share better knowledge no go come became my enemy tomorrow, if im encounter lose for bitcoin or any oda cryptocurrency.
Lastly, I agree with our Oga Cryptopreneurbrainboss, say dis forum no be financial platform wey de pay people for engaging in crypto discussions, na signature campaigns de pay members for dem adverts.
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A look at the history of halving, the first occurred in November 28, 2012. At the rate of 210, the second halving occurred in July 9, 2016. At the rate of 420, the third halving occurred in May 11, 2020. At the rate of 630. The fourth halving will occur in April 2024. At an estimated rate of 840. https://coincodex.com/article/22929/bitcoin-halving-dates/ . I don't understand what is rate in your post, what is it? Would you mind to explain it, please? he is speaking of the blockrate in thousands.. halvings happen at the: 210,000th block 420,000th block 630,000th block 840,000th block as for his other mentions of the price.. the actual impact of the halving does not result in a ATH until a year after the halving EG first market price 2010, first ATH 2011 first halving 2012, next ATH 2013 next halving 2016, next ATH 2017 next halving 2020, next ATH 2021 next halving 2024, expected next ATH 2025 Thanks for the clarification on this topic of discussion, I should have been more precise about mentioning blockrates, and of course ATH happens one year after halving, I take correction of that fact. This is the reason why this forum is the best place to discuss about bitcoin, it is also a place where new members are tutored about everything that they need to know about bitcoin. |
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