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3701  Economy / Trading Discussion / Re: Before getting into trading on: October 26, 2021, 07:40:47 AM
You mean to take a course that you will have to pay someone for? That is not necessary. There are may trading sites that offer free help by providing articles, it will be like that also on forex but I am specifically talking about crypto trading.
Whether the tutorial is paid for or not should be immaterial. Trading at whatsoever level isn't merely a theoretical thing. It's practical. It has to do with self. A lot of people know the theory about it but lose composure when on a trading platform, especially when it's live trading. So, theory won't matter if one can't control one's emotions. Emotion is the biggest killer when it comes to trading. Again, I'm one who don't believe in using the same trading tools provided by trading sites the same way the tools are put there. It's better to change default settings if you must use the tools on the site.
3702  Other / Archival / Re: [Merit] Help newbies and those who have a little left to the next rank on: October 26, 2021, 06:17:38 AM
I wanted to merit any of your post so you can move to the next rank immediately I saw your account was registered in February 2013. That's a long time to remain a newbie. Sadly, I looked through your post history and found out that your last post before this was 8 years ago. The gap is so alarming for anyone not to be suspicious. What actually happened?
3703  Alternate cryptocurrencies / Altcoin Discussion / Re: Binance promoting Shiba Inu on: October 25, 2021, 08:57:19 PM
SHIB was not formerly available on the binance app. As at when i purchased SHIB, i did it on kucoin. This is more like an announcement i think. This can promote SHIB in a way as stunch users of binance can now trade SHIB.
I got interested in Shiba actually as soon as I found out that Binance listed it. Upon my perusal of the project I discovered that so many exchanges listed it too. I reasoned that there might be something I don't see which the exchanges see for listing such a memetoken like Shiba. So, I bought in immediately.

If you can risk HODLing Shiba, i suggest you do. If you have done your analysis and you are super positive about the future outcome of Shiba, you can allocate a percentage of your portfolio to it and wait.
Honestly, this is my perception too on Shiba. In my mind's eye, I see it closing out some zeroes and doing something around $0.003+. If that happens, early investors will be in huge gain. Sadly, most investors don't have the patience to wait it out. They rather cut the profit short and scamper to safety, so to say.
3704  Economy / Trading Discussion / Re: For a bitcoin traders--- Qs what app is on your cellphone? on: October 25, 2021, 06:28:43 PM
2) this is I used FTX formally known as a portfolio which is to track down the value of bitcoin and altcoins in the market
FTX is also a crypto. It's similar to what Poocoin does with its trading app while also being a crypto.

But it has bugs

It asks me to log in a few times I keep going around and around asking me to update my password until I uninstall it because I can't properly check the value of its doing that.
I don't know why you should be having issues with the app. I use it and it doesn't ask me for any password. It's about the easiest app to use while adding cryptocurrencies on my watchlist. Perhaps, you should update your version and it might rectify your issue.

plus what do you use that is similar to FTX?
I also use Tabtrader. It's a great app with trading tools on it. In the past I traded directly on it by hooking my Binance account to it and could trade any crypto I had on Binance.
3705  Economy / Trading Discussion / Re: For those who think that they caught the moment when it's late to buy on: October 25, 2021, 05:15:32 PM
Yeah, this thread is for these kind of people. If it's too late to buy, then why don't you never think about opening a short position on futures trading? I really just don't get it.
Futures trading isn't for everyone. Unless one is an experienced trader, it's better not to go into Futures trading. It can easily wreck one unlike spot trading. Again, it's very risky opening a short position on Bitcoin at this time as one can easily get burnt because Bitcoin is on a bull rally ATM.

The reason why I opened thread about this is that people often think that they can only buy something and don't realize that they can do borrow sell too and get profit even when price falls.
Trading isn't an easy thing. Except one has the set skills for it, it can easily mess up one's finances. I know of a few traders who like to play it easy by "staking" and farming too. I guess you unintentionally missed those two out too.


On the issue of people thinking they're late to the party, I have this to say (a saying from my locality) – "When a man wakes from sleep is his dawn." Understandably therefore, no time is too late in the real sense of it. Just find your entry, that's all. Bitcoin is in a bull rally and will expectedly be till November.
3706  Other / Beginners & Help / Re: Must Know Security Tips to Protect your Bitcoin against Thefts and Hacks on: October 25, 2021, 01:32:07 PM
This small article is specially for my fellow beginners but
I sincerely hope you're truly one of them. I said that because often we've seen those who claimed to be that to actually not be newbies (beginners) in the true sense of it.

  • NotYourKeys.org. Remember - Not your keys, not your coins. So read the first topic to choose good wallets to use. Avoid to store your Bitcoin in custodial wallets.
How does one explain a situation where a third party is able to assess a wallet one has a passphrase to without one's knowledge? Isn't the passphrase like a Pkey for certain wallets?
3707  Other / Beginners & Help / Re: Truth about burning off coins on: October 25, 2021, 01:12:28 PM
If I get to know that a project intends to burn it's token supply after listing, it tends to trigger the suspicion button in me. I wearies me and I instantly would want to steer clear of such project. My first thought would be "why didn't the project reduce its supply before listing it?" It's a psychological thing and I don't like projects playing that type of game with investors, making them believe there could be reduction in token supply. It's the same way a lot of people are hodling Shiba, Safemoon or any other memetoken, believing the project will at one time burn it's supply.

They forget in a hurry that most of the projects that later burn usually do a ratio type of calculation and may even offer something like 200(old tokens) for 1(new token). So, even if any of the memetokens decide to burn, those hodling them shouldn't be surprised what reduction they would get.

But if an existing project decides to burn, that's the one that moves me because I know it's going to be genuine. Beyond all this is the need for investors to look into use-case than assumption that projects may burn later.
3708  Bitcoin / Bitcoin Discussion / Re: Advice: 1 BTC on: October 25, 2021, 11:14:21 AM
It's really not advisable to seek financial advises here, as we are not professionals.
Exactly my thought. That's asking too much if you asked me from random strangers. If OP had asked us to suggest tokens or projects to buy into with 1 BTC, that would've been more appropriate for such the forum can bring its expertise to bear on. Again, for me I think with such a huge amount of cash in dollar value I would rather hodl the 1 Bitcoin at a time like this and then wait for ATH before cashing out. My expected time for an ATH this rally is December. Whatever business we go in, the essence is profit making. It doesn't really matter whether it's stocks, real estate or FX trading. The common denominator in all the businesses listed above  is profit making. I rather hodl the 1 Bitcoin to trade it whenever convenient than invest it in a business I don't understand.
3709  Bitcoin / Bitcoin Discussion / Re: How to explain Bitcoin to Newbies on: October 25, 2021, 09:12:45 AM
Every crypto greenhorn (novice/newbie) who had approached me about Bitcoin had come with the intention of making money from it. They come like this, "Ahem, I heard there's something called Bitcoin and I heard people are making a LOT (they always stress that part) of money from it." It's always that pattern they come with. Now, I have developed that mindset that every newbie has the intention of profiting from Bitcoin. The tech aspect is always a secondary concern to them. So, I make it a point of duty to explain Bitcoin to any that comes my way by letting them know that nothing good comes easy. I warn them that Bitcoin isn't a Ponzi or a Get Rich Quick Scheme and that people also lose money dealing on it too the same way they could make money from it. At that point, if they still show interest I then commence lecturing them. Otherwise, I end it there. Now isn't the time to dwell on wasted efforts. A lot of these supposedly newbies were a part of those FUDding about Bitcoin a few years ago when they strongly believed it was a bubble.
3710  Economy / Speculation / Re: Elon Musk Sees Bitcoin Price Reaching $69,000 on: October 24, 2021, 08:56:15 PM
I'm not really bothered by his messing around on Twitter, Bitcoin isn't that affected by it anyway, it's not Dogecoin nor Shiba Inu.
Says who that Bitcoin isn't affected by Elon's tweets? Perhaps, we can say the effect has weaned with time recently as it's not that much this day like when he first started tweeting about it. Let Elon announce now that Tesla (his company) is going to sell off 80% of its Bitcoin hodling and watch how the market will dump.
3711  Economy / Speculation / Re: Elon Musk Sees Bitcoin Price Reaching $69,000 on: October 24, 2021, 07:05:28 PM
Can we please stop caring about what Elon Musks says?
Well, that's not likely going to stop anytime soon considering the fact that Elon Musk is the current richest man on earth. Rich people command great followership. It was a similar trend we had with John McAfee, now deceased. Whether we like it or not, Elon is still influential in the scheme of things as a crypto investor.

I'm sure that if Elon Musk tweeted "gold will reach $100,000" gold wouldn't move by even 1%
This is hypothetical. We can't really say for sure until a situation arises that can prove otherwise in that sector. However, I'm cocksure that when whales buy or sell any product the market reacts to it either way – rise or fall. Any volatile asset will react to Elon's tweets on price. 1% is infinitesimal.
3712  Bitcoin / Bitcoin Discussion / Re: Do you believe BTC can be attacked? on: October 24, 2021, 05:08:35 PM
For example, Bitcoin's whitepaper is 9 pages long. Poly's on the other hand is 41.
Yet it got hacked. It goes to buttress the fact that it's not the size of the dog that matters but the fight in the dog. Despite the few pages of its whitepaper, Bitcoin is able to knit all and anything that could cause it getting hacked.

Again, OP's question should make us realize that if it were possible to hack the Bitcoin network; Bitcoin haters would've long done that instead of the media attacks they heap on Bitcoin. As for if, "BTC can be attacked?", that attack has been ongoing for years with FUD here and there and the media amplifying the hatred. It's nothing new.
3713  Economy / Trading Discussion / Re: What do you think October will be for alts? on: October 24, 2021, 03:34:17 PM
OP, you should realise that history has a way of repeating itself. Until Bitcoin loses steam, alts don't start their rally. As it's now, it's very obvious that Bitcoin is still waxing strong, hitting and breaking resistant points. Sometime recently I shared a table with a forecast that Bitcoin will continue to rally until November. In 2017, I'm using that year as instance because it was also a post Bitcoin halving year like 2021, alts started their rally in the first quarters of 2018 after Bitcoin ended its in December 2017. It's the same way I see alts commencing theirs in 2022 after Bitcoin ends its this December. This is just my speculation. It may be right or wrong. Whichever way, whatever we see in alts going up in price now isn't a rally for alts. It's best described as flash in a pan. Wait until alts rally begins you will realize that what's happening now is child's play.



You may want to include the source of that so you don't run the risk of being accused of copy right theft.
3714  Economy / Trading Discussion / Re: Are trading platforms useful? on: October 24, 2021, 02:11:04 PM
After registration, I was provided with a set of tools that would suit users of any level, regardless of their knowledge.
All trading platforms have a set of tools they provide to aid traders. However, I won't advise you to use them the same way the platform provides them by default. If you must use the tools, change the settings. Nobody will intentionally hand a knife to you to kill them. No platform will hand tools to you that will make it easier for you to profit from them. There's always a snare somewhere.

Surprised by the automatic charting tools that help beginners understand the basics of technical analysis, to advanced proprietary indicators for experienced traders.
Whatever you do, steer clear of automations until you understand the rudiments of trading and how to manually use trading tools.

Have you used the platform from Newscripto and what do you think about the platform assistants in crypto trading?
Nope, I didn't know about them until now. I ain't saying the site is ok or not but before you introduce your friend to it, make sure you've observed them for a while. Otherwise, if it turns out bad eventually your friend might not trust your judgment again.
3715  Bitcoin / Bitcoin Discussion / Re: Bitcoin has died 432 times on: October 23, 2021, 06:43:49 PM
Actually, before opening this thread I thought the title was mere hyperbolic; an exaggeration of some sort, but I guess it isn't. I'm not surprised nonetheless finding an obituary of Bitcoin for 2017 to be the highest of them all according to the site –2017 (124), for that was when the bubble FUD was at its peak. In fact, it was that experience of 2017 that formed my resolution that Bitcoin is truly a phoenix; a cat with nine lives. This day, I don't care about whatever negative opinion people have about Bitcoin because I know (from experience) that whatever happens Bitcoin will definitely recover and come out top.
3716  Other / Beginners & Help / Re: How do you know if someone left you Bitcoin after death? on: October 23, 2021, 05:01:21 PM
But what happens to the Bitcoin if the owner of the wallet dies. Is there a way to transfer bitcoins to next of kin and how will the potential heir know?
The only way the potential heir knows about it is if the benefactor told them about it. Otherwise there's no way they get to know and If the next of kin doesn't know about the Bitcoin it may be as good as gone. This is why I strongly believe that a lot of Bitcoin will be lost forever because this privacy and secrecy thing around it has pushed many hodlers to the mentality of not even trusting those close to them with information leading to their stash while alive.

As for me, I'd rather keep it simple on a piece of paper, perhaps 2 copies, and a couple of USBs containing the same information and instructions.
What if... What if all that fall into the hand of someone other than the person it's meant for after you've supposedly left this world?
3717  Economy / Trading Discussion / Re: Taking Profits on: October 23, 2021, 06:19:43 AM
If I leave my profits in the trade would I be making more money then if I were to take profits out at every 50% price gain?
It's never counted as profit until it's taken out. Anything can happen to it while it's still in the trade. We've seen supposed profit go to zero.

In the cryptocurrency market when you buy altcoins you should never hold them so when you get your desired profit you should sell all of it and completely exit that coin and move on to the next altcoin that is about to be pumped to repeat the same thing and maximize the profitablity.
This is easier said than done. No one can confidently tell a crypto that's about to blow up. Otherwise, we all here would be filthly rich. The best any investor or trader can do is speculate. Again, what makes you think that exiting that winning and profitable trade and throwing the cash in another alt would be a profitable thing to do? What if the new alts dump immediately you buy in? We've seen that happen a lot of times. I also have been a victim of that. I rather take out my profit in percentage (something like 20%–30% first) and let the rest run than take all out at once and go chasing new alts.


By the way, OP kindly move this thread to Trading Discussion. That's where it rightly belongs.
3718  Economy / Trading Discussion / Re: Technical Analysis of Bitcoin on: October 22, 2021, 01:44:07 PM
I, for one, will be interested in the daily charts you put out here as a trader to see what trading method(s) you adopt. However, you've to bear in mind that the FOMO you so referred to at this auspicious time is occasioned by the fact that everyone likes success and that failure is a bastard. Now that Bitcoin has gained so much (don't forget the ETF factor), a lot of investors who sat on the sidelines a while ago want to woo her, so to write.
3719  Economy / Trading Discussion / Re: Do You Use Technical Analysis? on: October 22, 2021, 06:08:21 AM
Do you use technical analysis when you trade bitcoin?
But of course, what else would one be doing trading without Technical Analysis? How would one even be able to navigate the murky waters if not with the help of TA? Yes, to your question.

If yes, what are the best strategies?
There's no holy grail in trading. I rely on leading indicators as a major part of my TA, even while taking cognizance of the fact that the market (crypto market) is a highly speculative one and nothing is that certain.

Bitcoin is so volatile now.
This is even what makes Bitcoin enticing and exciting for traders. Once the market goes to sleep, a lot of traders don't like trading it. I believe the volatility is a plus for Bitcoin.
3720  Local / Politics and society (Naija) / Re: African Proverbs in Pidgin on: October 22, 2021, 04:14:13 AM
Okrika coat nor dey come complete.
Meaning: Don't expect anything that doesn't come new to be in perfect condition.
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