First na for our government to regulate crypto matter and make e de favourable to us wey de into am, so we go get a clear vision of crypto relationship with our government. E go be win win for us wey de into bitcoin and our government, because we go de sure of enabling environment to trade and invest in bitcoin and government go de happily cash in for di tax wey dem go de collect from us.

I can agree that there are no extraordinary methods to determine bitcoin price, just basic economics principle, the higher the price the lower the demand, the lower the price the higher the demand. Factors that determines this price fluctuations are the real deal. From my observation, news around the world can trigger panic selling or rapid buying. Other factors like differences in prices of exchanges can also determine it's price fluctuations.

Di idea of a convention de very good, as e go bring us togeda to know ourselves one on one, to discuss issues wey go make our local board to de beta and be di envy of bitcointalk in general. Without exaggerating I believe say dis our forum na im de for di forefront of anything bitcoin and crypto matter for inside Nigeria, diafo, anything wey go make am beta and give am a stronger voice de welcomed by me.

Aldo I no know how di convention go take de possible because of some reasons
1: Bitcointalk forum de anonymous, meaning say dem create am to hide the identity of the members. So dis convention no go go against di ideology of di forum?
2: Location, dis na di real koko, because I believe say we live for different locations for Nigeria, some of us sef for dis forum live for outside Nigeria. So wetin be di possibility say most of us go fit to converge for one venue at di same time to hold di convention? Considering cost of transportation and lodging accommodation.

I for advice say if we want to hold convention, we fit to open something like a telegram platform, zoom or even WhatsApp.

@Mate2237, thanks for bringing dis thread back, as you @Sokani, talk am, e good to de refresh am back to di front page, until  di thread go wear em permanent Jersey for first position.

For di unofficial matter, e be like say e pass our power and boundary, but no cause for alarm, so far say di message dey clear.

E dey very good as di rules of dis our local board de as a thread, so e go be a guide to members, especially newbies, in order not to violate am. I also support sey dis our guideline thread suppose dey pinned as number one, wen person open our naija board, to help avoid making mistakes wey di forum no need. I like di way wey bitcointalk in general take de organized, e show say na intelligent minds de run am.

Last last I thank @Igebotz, and all our oga dem wey de make our local board to de move forward and de organized, una do well. Na who sabi dem de give responsibilities. Although I no too understand di unofficial general  guideline, because to my own understanding, di guideline suppose de official. Abi na until di bitcointalk moderators, approve am?

Me I no see any reason wey person wey de into bitcoin, as a means of lively hood go fear, if di authority de investigate im source of income. Na just to show dem proof say na bitcoin you de trade or invest, so far say cryptocurrency no de banned for Nigeria, no wahala for you. As for dis bitcointalk forum, as far as I de concerned, na where people of like minds de come interact for di matter of shared interest, wey be mainly about bitcoin and crypto related topics.

Dis na very good news, especially because of em low transaction fee. I know say small business owners like me no fit to easily accept bitcoin as payment for our goods because of the high transaction fees, but as binance don add lightening network, e go reduce high transaction fees, and encourage transactions between buyer and seller for binance. Aldo di lightening network, de complex for me to understand, hopefully e go de more simplified for binance.

I no too understand di different kinds of lightening networks, wey @charlestin de explain, but dat one no go be problem, na to research and understand am better.

Thanks for your question about how I take carry out di survey, di city na for inside Lagos, and di people wey get responses from na my customers wey de patronize my shop, fellow market people, neighbors and friends. Na informal wey I take de  casually ask dem if dem know about bitcoin and wetin dem think about am. Within last week, I try ask about twenty people in a day. Aldo I no keep record of total number of people wey I sample di question give, but I sure say e pass one hundred. I mention for my thread say my findings fit no de accurate because e fit no capture di opinions of every Nigerians, but truth de inside.

Maybe na majority of di people wey de for my side no see di light concerning bitcoin. I just de obliged to share di information wey I gather for di survey wey I do. Based on di negative things wey I de hear people de associate bitcoin with. And di solution wey I feel say go help to change dis perceptions.

I give myself task to do a kind of feasibility study, to know how different people de see bitcoin and how dem de rate am. Within a week i ask more dan a hundred people, and most of dem na enlightened people. Twenty percent say dem never hear about bitcoin before, anoda twenty percent say dem don hear am but dem no know exactly wetin em de all about, above fifty percent wey say dem know am de ignorantly associate our bitcoin with various  scams for Internet. especially de liken am to MMM and yahoo. While less dan ten percent, na im give am pass mark. Aldo dis my result fit no de accurate because e no capture di opinions of every Nigerians, but truth de inside. I no too de surprised say people wey associate bitcoin with different scam de plenty pass, because I once de like dem before I eventually enter am.

Dis negative image wey Nigerian people get about bitcoin, evendo say no be Nigeria get am, no good at all, so my concern be how we go take change dis perception. CBN too no help matter as di cryptocurrency ban still dey. So I de reason say one of di ways wey we go take create positive awareness about bitcoin and crtpto matter at large, na to get a recognized bitcoin body, wey reputable people for our country, wey de into crypto go belong. Because I de sure say many intelligent minds for naija, de trade and invest in bitcoin, aldo most of dem na on di low key. So dis association go be an official voice to de address issues wey concern bitcoin, like dis CBN ban and de negative perception of crypto in general.

Aldo I no know weda we get dis kind of association about bitcoin or cryptocurrency in general, for inside Nigeria. But if any association like dat de and im de recognized by our government, den I no de sure say dem de do enof to better di image. On di oda hand, maybe people wey de into crypto matter no send about wetin people think about am, sofa say dem de make dem money and dem no break any law.

Personally I de like to chop remain, because evendo nobody fit to predict tomorrow, e must surely come. So for dis matter of bitcoin ATH, even if I de anticipate say di price go high well well and I go make huge profit, if I sell, that one no go make me to cashout my investment. Sofa bitcoin na investment wey I believe in, when di market reach all time high, I go decide the percentage wey I go sell, based on how I take need money at di time, but no matter how I need di money reach, I must remain something quite substantial for my going concern. Like for economics, bitcoin de oscillating, when market de favourable many people go de buy, but when di market begin to de experience loss, many people go de exit, at a time only di people wey withstand di loss go remain, eventually demand go de high again and dem go begin to gain more.

Like di topic wey I start for bitcoin discuss board, e prove sa bitcoin no be gamble, https://bitcointalk.org/index.php?topic=5459424.msg62534957#msg62534957  . So far say you understand di volatility of bitcoin and you fit to understand di chart, no need to cashout, even if if you see plenty profit. Because after bear run, bull go follow. Na my opinion.

I like the way you differentiate  the two, bitcoin trading is more of calculated indices, it's futuristic and realistic. While gambling main principles is primarily on luck and predictions. I think that if a bitcoin trader chooses to apply this principles of gambling that is based on luck and predictions, then it somewhat becomes a gambling method, which might not yield favourable results in terms of earnings. Better to stick to a realistic method of calculated indices, as you have rightly mentioned.

I totally agree say di tax move de premature at this time, especially as dem never regulate cryptocurrency matter for inside Nigeria. Our government suppose to de put first things first, instead of putting di cart before di horse. Otherwise how we want to take make significant progress and compete with countries wey de proactive and de implement laws at di right time wey go de favourable to dem citizens.

The former CBN Governor no try for im tenure, but if our government de serious to right di wrongs of di bad precedent  wey di former governor set for crypto matter, dem fit to do am, no be rocket science. But I just de see di lack of willingness to do di needful, make bitcoin Sidon for im rightful place in Nigeria, as a world class decentralized digital currency, wey our people go trust say e de genuine and eventually everybody go adopt am just like fiat.

Your analyses are very clear, you really simplified it, gambling depends mainly on luck, while while bitcoin trading depends mainly on skills. Although you still need a little luck or skills of either one to complement the other, but in all I think that one common factor that they both share is risk. But obviously there is much lesser percentage of risk in bitcoin, compared to gambling. I can deal with risk, so far the reason for the risk is well understood and worth taking, because everything about making progress in life requires some percentage of risk.

For some time now I've been pondering on this matter, because I see similarity between bitcoin trading and gambling, so I'm wondering whether they're the same thing. My simple definition of gambling is "try your luck", because you don't know what will be the outcome of the game that you staked. Although calculation is involved in gambling, like forecasting and permutations to predict winnings. In the end it is fifty fifty or sixty forty chances of winning. At the same time you can not accurately predict bitcoin , because of it's volatile nature. You're not 100% sure whether you'll win or loose.  Furthermore, I've leant on this forum that it's better to invest in bitcoin, with what you can afford to loose, meaning that it's not safe to invest your main capital. This is where I think that bitcoin is like gambling, because despite the accurate knowledge of bitcoin chart, you're never too certain of making gains, just like in casino, online betting and the rest.

From my observation, people don't have much regards for gamblers, they either see them as lazy people who don't like to work, or people who want to take shortcut to get rich. Although people are entitled to their opinions, but I don't like to categorize bitcoin in this group of " try your luck ". I know bitcoin is of a higher level, it's a decentralized digital currency that you can use to make transactions, at the same time you can cash in when the coin appreciates., or even trade it to make profit.

So having made all this comparisons, do you think that bitcoin can be classified as gambling?

I think that one of the basic concepts of trading in bitcoin, should be to keenly observe the chart, and knowing when to buy and sell the coin. Because if the essence is to make profit, then one must seize opportunities when it presents itself, and is favourable to sell or buy. Instead of just keeping it and waiting for the perfect time, which may not present itself in a platter of gold. Positive attitudes is however very important to help us to stay focused in bitcoin.

Risk is a part of life, if we're not ready to take it, then we're not prepared to go to the next level. Of course it has to be calculated risk, so we don't make foolish mistakes.

Oga brainboss, I receive your merits with gratitude, I say make your source no dry,  thanks.

Make I also use dis opportunity to thank Satoprincess, once again for fulfilling the promise to reward me. I don receive di  complete bitcoin, as you talk am, inside my segwith wallet. No wayo at all, thanks again.

My bros, even if dem no de tech savvy, dis corrupt people wey wan hide money for bitcoin go don reason all di possibilities wey EFCC or other anti crime agencies go take catch dem, and dem go wan try block all loopholes. Sodiafo with dem too much money, dem go fit find and recruit di best brains of corrupt tech savvy guys wey go de help dem to hide dem looted funds for secured accounts, weda na for fiat or cryptocurrencies. The way to catch dis criminals na if dem make simple mistakes for dem transactions.

Another worry be say corruption full our anti graft agencies, imagine di chairman of EFCC being  detained for di crimes wey dem de fight, and dis no be di first time wey dem de arrest di head of di criminal agency. So if di heads de corrupt, wetin go happen to di entire body? My opinion be say if dem catch and prosecute any criminal, make dem make sure say di full weight of di law go apply for di punishment. No be say tomorrow we go see say nothing happen to di person, and e go give upcoming corrupt officials di morale to steal plenty money, bribe dem way out of punishment and walk free.

I feel like say I de for stage de collect award, I de 100% grateful to di organizer of dis monthly review. @Igebotz, I hail you my Oga, you too much. I know say e no easy to bring your time, dedicate am to de go through di board, and de do dis monthly charts. Thanks as you consider my humble posts for reward, more greese to your elbow sir.

SatoPrincess, words alone no fit to express my gratitude to you as you wan give me another reward, two times in a row. I pray say God, go de reward you more, as you de encourage upcoming members like me to do more. Thanks.

Investing in bitcoin from ones profit is the best option, because of it's volatile nature. I've learned a lot from this forum that it is better not to trade or invest in bitcoin with all your capital, because you're not 100% sure of making profit. Except if it's on a long term investment. Like they day in this forum, it's better to invest what you can afford to loose.

Truly, people have different reasons for procrastinating, and generally postponing what is supposed to be done. Among different factors that makes us procrastinate, one of them is money. When we have numerous important needs and lack money to execute them. Procrastination naturally steps in.

So even with the full knowledge about bitcoin helvin, and you're are faced with other important financial needs like food and rent, with lack of money, you'll tend to procrastinate before investing.