To be frank, I never expected that Bitcoin would literally kiss the dust this November. My projection was that Bitcoin would bull this month. Sadly, this month has proved to be a slur. Well, in all this I still believe Bitcoin will bounce back. This price level is a good time to buy in. Even if one buys now and it dips, it's still a great discount. Whether price is at $10k or $30k, anyone who can afford savings should start buying in bits now. DCA on your investments or if you can wait some more, try buying in before the last quarters of 2023 when    the excitement of Bitcoin halving will be gearing up.

I miss that Blockfolio turned FTX app too. I used it as a price tracking app for cryptos I watched. I quickly deleted mine during the wake of the FTX debacle as it wasn't opening and I read somewhere that any attempt to update it would be opening malware as a phisher had been introduced in the app that stole funds. For me, it's better I played safe than being sorry.

I'm one for the growth and stability of this industry but sometimes I find certain things arguable. Just like this Cex and Dex debate. I know that not owing ones' keys doesn't confer ownership and that's very bad. However, I think Cexs have done more good than harm to this industry. At least, it helped pushed cryptos to the world in terms of ease of trades and accessibility. Its harm may be obvious now because of awareness and the growing popularity of Dexs. Before now, Dexs weren't a thing and weren't popular. I think for Dexs to have an upper hand, they should up their game and create an avenue of populating their trading pairs with more tokens so traders can have an avalanche of tokens to choose from.

There's always a process of ups and downs in life. None lasts forever. Today may be for a crash and tomorrow for soaring to the north. In essence we can't hastily conclude that the world isn't doing well based on the momentarily incident of crash we have. Bitcoin may be crashing at the moment but that doesn't make it any weaker than the dollar.

Outwardly, yes you got in at a bad time. However, technically that's a better time to get into crypto when the chips are down so you can buy in cheap. So many people who bought earlier are already caught up in this dwindling price and are regretting it now.

If as a newbie you already have this type of mindset I would say you're doing well. Keep it up with DCA and patiently wait for the bull season in 2023/2024.

To be candid with you, fiat isn't going to completely go away no matter what innovations we think should come upon us. Part of my reason for saying this is that no matter how developed the world wants to get, there are areas that technology can't get to. Even as we debate this issue, there are cities in the world that don't have electricity supply to them. Digital currency won't be possible without power supply. Again there will always be a unit of measure to pair Bitcoin or any other crypto with to ascertain its true value. Here, fiat comes in again.

I hope the wallet you introduced to him is a simple but secured one. Electrum will be a safe one here as it's an open source and not complicated to use. The reason I said that is because you've to make sure his funds are intact for him, otherwise if he loses his funds his type will never believe anything Bitcoin ever again. In fact, he will spread FUD about Bitcoin to anyone who wants in.

As an aside, I want to see big shops and businesses start using Bitcoin in Nigeria so I don't have to convert to fiat when I want to buy electronics or do any other heavy spending.

This is the point that summarizes your whole point and position on the Dex issue. No matter how hard anyone tries to make a mess of what Cexs have been able to achieve despite the disadvantages therein, we shouldn't be in a haste to forget the good it has done in this industry for expanding the coast and creating awareness and trade volumes. By the way, is there anything in life that doesn't have demerits as it has merits? None.

TW is a creation of Binance and not a Dex in the true sense.

But of course, people have their set targets and once it's met even before the end of a calendar year they can decide to draw the curtains there. I guess that's what OP did.

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May I ask you a personal question on this. You don't have to respond if you don't want. You don't hodl any other crypto apart from Bitcoin or you consider yourself a risk-taker too?

OP is referring to life here (not real life) and that's why there's "Newbie to Full Member" in their text 🤔

I think the earlier people realized that Bitcoin is a phoenix and the proverbial cat with nine lives, the better for the health of their heart. With that there won't be unnecessary panic whenever the media spreads FUD. What I'm saying in essence is that people shouldn't panic once a dip is sighted, especially if it's Bitcoin dip. Members who've been here since 2017 should've  figured that out by now.

To start off with, not everybody wants (will want) a life of digital currencies. They think it's difficult to learn all the dos and don'ts that go on with its wallet management and security. Not everyone likes restrictions. Going forward, we also need to factor in the "other side of cryptos", the negative side.

Yes, I think that's long overdue even. Financial literacy should be a thing to be learnt too. It should be a part and parcel of the existing curriculum so as to aid youngsters in financial management and accountability.

OP, there's nothing you said there that aren't already in the public space. Investors know that shitcoins will always be what they're but they think they're going to be lucky and get out before it collapses on them each time they invest in shitcoins on short time. Sadly, they get caught in the web.

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Don't pay any attention to naysayers. Those who say that haven't been long enough in this industry to notice and be reassured that Bitcoin is the pillar of this industry.

But of course, yes. Goods and services can be paid for in Bitcoin in most Bitcoin friendly countries. It can be done as direct payment without having to convert to fiat first. However, the importance and relevance of fiat as a unit measure of value for goods and services can't be ruled out no matter how anyone wants to. I've consistently maintained that the use of Bitcoin can't totally annihilate fiat, and vice versa. Both are likely going to exist side-by-side.

Let me paraphrase one of the few expressions here in 2018 or so, "Get ear plugs and plug them in whenever there's FUD on Bitcoin." It was a thing then but didn't make much meaning to me because it was during a bear season and I was losing money as my portfolio was steadily going down. My investment was dwindling and some people were advising I acted like nothing was happening? It was the most bizarre situation to be in at the time. Happily, today I know better. I would also encourage those who are experiencing great losses during a bear season (on Bitcoin) to do same too with the ear plug thing with the media. Sieve out the media and its FUD on Bitcoin.

Most traders know this but only a few of them practice it and that could be because Dexs aren't as voluminous in trades as Cexs. Dexs don't have more options to trade from. Traders like options but when these options are limited (or restricted) they tend to move away to where options are readily available like plants to source of light. Perhaps, may be Dexs will begin to expand now and incorporate more tokens to trade from going forward.

I don't like using any ETH commission based Dexs because of that killer in gas fees. Yes, I admit that fees have drastically gone down but it's not like what we've in other chains, especially BSC or even Polygon.

What you shared here is an eye-opener, even to me. Things like this exposition you've here are supposed to be with examples and links to Dexs that offer that. If you don't mind could you share names and links?

Well, no matter how we want to be optimistic on Bitcoin, we still have to balance it up with the reality of existence – nothing lasts forever. Remember, there was a time we had the barter method as means of exchange and then fiat. Now we're (almost) in the digital bit financial world method. Bitcoin leads here and to the best of my perspicacity I believe that has everything to do with the phenomenal tech that came with it. That's the blockchain tech. Bitcoin may be overtaken in the future by another financial method. We can't for sure rule that out. Hopefully, blockchain remains and possibly metamorphose into something new.

Though I'm optimistic that life will go on, it will be really very difficult to go on without Binance in the crypto space. My emphasis is on "really very" there. Just take a look at how the FTX saga is dragging other stuff into issues and bankruptcy with it. You can imagine how many other exchanges that rely on Binance to draw their sources from it and what will happen if Binance goes down with what's happening with little FTX compared to Binance.

It will drag the development backwards. We can recollect how difficult it was a few years ago buying cryptos on the internet. More so, newcomers to this industry find it easily accessible to be on Cex than Dex because of the numerous cryptos therein.

Remain blessed for that observation. Those who think Dexs are possible replacement for Cexs aren't being logical about it at all. I once asked someone who suggested Bisq as a great Dex to be used instead of any Cex (including Binance) and I drew the person's attention to the low volume there and few coins Bisq has too. Cexs may not be the ultimate but neither are Dexs. We shouldn't throw out the baby with the bath water.

That's me there in that comment. I'm constantly appreciative to providence for making my path align with Bitcoin on that fateful day in December 2016 (can't remember the date, actually) before I then registered on this forum in 2017. Bitcoin has been an eye opener to me in everything financial engagements and the dynamics of inflation. Also, my exposure to Bitcoin has sharpened my instincts on online dealings; both on internet and scam awareness.