I'll agree with you on this one. there are people who are here with the sole purpose of posting just to fish for merits which is a very wrong perspective of this forum. Newcomers Should indeed be well educated so they'll know their purpose of coming here, that way we will not only be getting rid of meaningless posts but also new members will avoid going through unnecessary stress throughout their stay here.

Honestly, if all the newbies wey dey enter the forum dey take their time to familiarize with the forum the way you do, then the rate of spam and meaningless post go really reduce. You go see person just register account today today, e jump enter Bitcoin Discussion board go as "What is Bitcoin and how can we make money from Bitcoin". Anytime I see those kyn things, e dey really pepper me for mind because I go come dey wonder wetin these people dey really thing wey them dey do this kyn thing. Normally when you go where you no know, you gats first chill make you for observe wetin dey happen there and how people for their dey do things, you no go just come where you no know, you don start to dey ask people careless questions. Na true say here na learning environment and high ranked members supposed dey carry newbies along, but no be to come forum as a newbie come ask question wey be say u fit just easily ask Google make Google for give you better answer, you go ask question wey people don already tire to answer for the forum and you expect make them answer you, after you go say people here na bully, wey be say you never even do wetin you supposed do. Abeg make we dey try do the right thing.

Omo e get one time those people message me directly for my WhatsApp, I no even know how them carry get my number, I just come see message say them wan teach me how to carry get like X20 deposit bonus. I first ask the person how e take get my number, e tell me say e get am from Facebook. Me wey no dey share my number to strangers or even post am for public place. I say no wahala make e teach me, after I already know say na scammer. (Me wey dey like to dey mess with these scammers ). E tell me make I log in to my Sporty, I log in, e tell me make I make deposit of 1k with my card, I do am, e come ask me whether I done do am, say make I send am screenshot, I send am, e come say okay, say make I wait for 1 minute then check say I go see 20k there, later e come ask me if I don see am, I say no. Na so e come send me link make I log out from my account then click the link to log in again say I go see the bonus. I come click the link, na just exactly the same thing with sporty and if you no put eye for ground, you no go know. I come tell am say the person wey design the site for am try sha but say en hand no too strong, say make e tell me make I direct am to person wey go do clean work for am, na so the werey block me. Lol. I no fit laugh finish.

Person don already post this particular thing with the same particular link for this our local board.
https://bitcointalk.org/index.php?topic=5485335.0
Make you try to dey go through other people posts once in a while before you go dey rush to repost wetin another person don already post.

Again, na true say wetin the person post no dey portray good image for we Naija people but the truth be say here na public space and everybody get right to post wetin e wan post, as long as you no dey abuse your fellow forum member. Na the way e pain am for mind na e take post am so make una freestyle am, if una no like wetin e post, just skip and move to the next post.

The nuisance caused by these fellows are indeed alarming and we don't see the government showing so much concern about this. Even the local vigilantes in the local parts of the country misuses the privileges given to them. The other day, I saw news about how a local vigilante of a town in Rivers State opened fire on his brother over a little family rivalry, a misunderstanding that could have been settled amicably, he took laws into his own hands and shot his brother, leaving him in a very pitiable state.
This isn't the first time I'm hearing about the harassment and intimidations caused by these fellows to innocent citizens. The government should really look into this matters and put a lasting stop to it before it becomes worse than it already is.

Na just this matter I been dey discuss with my wife today, she been dey talk say she wish say dollar go even climb reach 2k, I shout, say wetin? She talk this thing because she get work wey she dey earn in dollars too, so as them pay her, the money dey big when she convert am to naira.
True true, people wey dey earn in dollars or other currencies na e dey benefit from this dollar wahala, but those of us wey dey depend on salary for naira dey complain because as dollar dey rise, na so things dey cost wetin no nice and majority dey complain.
Thats why I dey always advice people make people fyn way to start to earn in dollars because that way we fit get chance to fight this suffer wey dey we country like this.

Lol as I dey read the story you dey talk I no fit laugh finish, which kyn careless talk your friend dey talk so? Honestly, e get some people wey them supposed lie am down flog them for some kyn thing wey dey come out from their mouth.
But you kwa, because say them ban something no mean say the thing na scam, e get plentt countries wey ban Bitcoin presently but e no mean say na scam. E get the time wey or Naija government been ban crypto, even ban twitter join, but e no mean say them been scam nah

The summary of the matter besay make people just dey careful the way them dey carry dey follow matter wey dey come out from people mouth, even the ones we dey see online, else e go affecr you the way you no expect.

Indeed, there isn't a precise metrics to gauge how widely Bitcoin is adopted. Some may choose to consider the quantity of daily transactions or the number of Bitcoin wallets that are currently in use. However, these gauges are limited to certain factors.

However, despite its rather low adoption rate, Bitcoin is nevertheless having a significant effect on the financial system. For instance, the collapse of FTX has effects in both the traditional finance and cryptocurrency sectors. Therefore, even if just a small portion of people use Bitcoin, its impact is far bigger than that statistic would imply.

 Well, I think On the one hand, Bitcoin has been around for more than a decade now, and it's had a number of major price fluctuations, crashes, and comebacks. So it's certainly not a new technology. However, until it becomes  commonly used for transactions, there is still a long way to go. As of right now, the majority of its users are investors; regular people use it less frequently for tasks like paying bills or buying groceries. Therefore, I believe it to be in the middle of the "early" and "mature" areas.

It also appears that ignorance of the underlying technology contributed to some of the mistakes committed in the past. For instance, the Terra/Luna scenario resulted from a crash caused by an algorithmic stablecoin design error. Also, FTX's inability to accurately account for customer deposits was a contributing factor in their bankruptcy. I don't really think there are many fundamental flaws with Bitcoin itself, I believe it's more about how it's being implemented, which I believe could be readjusted as the day goes by.

You can learn a lot about and refine your strategy by comparing historical portfolios, (your own or others'), to hypothetical portfolios. It's also interesting to consider the potential earnings if one had chosen to invest in Bitcoin at different times rather than other assets. This could be a helpful exercise to weigh the possible risks and rewards of potential future investments.

It's not just about buying and selling in the short term to try and make a quick profit, but rather about making a commitment to accumulating Bitcoin over time, understanding that the true potential of the technology may not be fully realized by using the short-term approach.

In the early days of Bitcoin, there were a lot of people who were drawn to the idea of getting rich quick by investing in this new and mysterious technology. These were often referred to as "get rich quick" investors, and they tended to focus on short-term gains rather than the long-term potential of the technology. However, over time, the market has matured, and many people have realized that Bitcoin is a long-term investment, and that to really see the benefits, you need to be patient and committed to accumulating over time, but a lot investors are still myopic about this fact and still holding on to the old and outdated technique of Bitcoin investment.

Those that purchased Bitcoin at the beginning did, in fact, receive a very disproportionate return on their investment. Regarding opportunity cost, I totally agree. Even if someone bought Bitcoin with money that they could have invested in something else, the return on their Bitcoin investment would likely be much higher than the return they would have gotten on that other investment. Of course, all of this is hypothetical.

It is impossible to predict with certainty what would have happened if someone had chosen to invest in something other than Bitcoin. However, considering Bitcoin's potential return on investment in contrast to other viable options, such as stocks, bonds, real estate, or other assets, is still an intriguing thought. It's possible that Bitcoin has occasionally performed significantly better than those other investments. For instance, during the last ten years, the S&P 500 has returned roughly 7% annually on average, but during the same period, Bitcoin has gained over 200% annually on average.

Naturally, past performance does not guarantee future success, and as Bitcoin is far more erratic than the stock market, its returns can vary greatly from year to year. But there is certainly a chance for an enormous return on investment.

The power of compounding rewards is another intriguing point to consider. Compounding allows the return on your investment to gradually increase over time. For example, if you invest $1,000 and get a 10% return, you'll have $1,100 at the end of the year. But if you reinvest that $1,100 and get another 10% return, you'll have $1,210 at the end of the second year. And so it goes on and on. Therefore, the compounding effects of Bitcoin's returns may have led to a significantly higher gain over time than someone might have predicted, even if they had only invested a little amount of money. For instance, if a person had invested just $100 in 2010 and HODLED their BITCOIN, they would have accumulated over $300,000 by the end of 2021. Even if that's a very specific and uncommon situation, it's still intriguing to think about how Bitcoin investors' performance might have been influenced by compounding gains.


Rightly said, every investor (Both Bitcoin as well as other assets) needs both knowledge and patience. It's not enough to just buy Bitcoin and hope for the best, you need to understand the market and the technology behind it because if you're not fully equipped with the knowledge you need to make certain decisions, you'll be exposed to lots of dangers that is capable of negatively impacting your investment and you might end up making wrong decisions and putting your investment in jeopardy.

 And you're also right that the key to success is often HODLing for the long term, rather than trying to time the market or make quick profits and it takes a great deal of patience to HODL. This is a lesson that many new Bitcoin investors learn the hard way.

You can actually send private messages to people by navigating to user's profile and clicking on the "Send this member a personal message" option. See the image below for illustration.



Like you said, this is more of a learning environment and interaction is a necessary and an important tool in order to make learning easy so whether privately or publicly, interaction is necessary for learning to occur so it won't make it immature at all.

And concerning posting of all kind of posts and memes, I believe there are off-topic boards and other kind of boards that you can actually post such things, but it should be posts that one can actually learn a thing or two from and not posts that are irrelevant.

I totally understand how it is for you, feeling like you're being bullied here when you're simply just trying your best to make positive impacts on the forum. I was also like you once, when I started on the forum, I also didn't really have proper guidance or someone to help me through the forum so trust me I understand and that's why I'll give you this friendly advice. I don't know how you come to know about the forum or what you were told goes on here, but I believe if you have the right information about the forum then you'll find the forum easy and convenient.

Like always say, the primary objective of this forum is to acquire and exchange knowledge about bitcoin and other things, as a new member, your sole aim should be first to learn and after you've learned then you can have something to contribute to the forum, but if you've not learned what then can you contribute? You've only been here for a short while and I believe you're yet to familiarize with the forum rules and regulations, which should be the first thing you should do, rather than immediately start posting and looking for people to merit your post, I know you're probably saying I'm only a Member rank and this should be coming from higher ranked members but I'm speaking to you from experience, when i joined the forum last year, I was eager to start posting and earn merits until I realized that i was doing the wrong thing and then I dedicated my time to learning first so I can have knowledge to share and to be able to make meaningful contributions to on going conversations. If you go through my activities on the forum, you'll realize that I do more of contributing to other's threads rather than posting or creating my own thread. I'm not saying I'm perfect or I have acquired all the knowledge I need, no but at least I know I'm on the right path and you also should.

Due to its uniqueness, Bitcoin has the potential for a significant asymmetric reward, which implies that the upside is far greater than the downside. Because of the enormous potential payoff, it is often profitable to take a chance on Bitcoin, despite the inherent risk. It's similar to playing the lottery; but with far better odds. And I couldn't agree more with you on how you pointed out that it's not just about investing in Bitcoin, it's also about having your financial life in order and making sure you're not over-extending yourself.

In my opinion Finding a way to keep up with their other financial obligations is one of the biggest challenges for anyone looking to invest in Bitcoin. It's easy to get caught up in the hype and excitement of Bitcoin and lose sight of the fact that you still need to pay your bills and have money for emergencies. To invest in Bitcoin, some people might even be tempted to take out loans or incur debt, which is not a wise move. It is crucial to keep in mind that you should never invest more money than you are willing to lose.


You've hit the nail on the head when you say that one of the most crucial elements in investing in Bitcoin is time. Your chances of getting a good return on your investment increase with the length of time you can hang onto your Bitcoin. Similar to a snowball effect, your investment will increase over time. Additionally, as you mentioned, you'll gain more knowledge on how to maximize your investment over time. The misconception that most people have when investing in Bitcoin is that it's a get-rich-quick scheme, but that's clearly not the case and that if they just start investing in Bitcoin, they'd be rich in a month or two, and this infact is the actual reason why most Bitcoin investors go into the short-term trade and they end up loosing money and giving Bitcoin a bad name, they go all in without really having the knowledge of what they are doing and then at the end incur losses for themselves. Bitcoin is more of a long-term game, and if you really wanna rip the true benefit of Bitcoin, then going long-term will definitely help you achieve that.

Agreeably, In a way, no matter how much information we gather, the future is never really definite. However, as you said, we may utilize that information to assign probabilities and arrive at well-informed conclusions. Furthermore, it appears that Bitcoin has some special characteristics that make it stand out from other assets. As an illustration, consider its scarceness and its autonomy from centralized authority. However, as you pointed out, there are no assurances.

But when we think about it, how do we go about making decisions about the future if we are unable to predict it with complete certainty? Assigning probabilities to each of the many alternative possibilities is, in my opinion, one way to come up with a solution. For instance, there are a number of potential outcomes for Bitcoin: it might take over as the primary means of transaction, be overtaken by another cryptocurrency, get banned by governments, become archaic and replaced by something else entirely, etc. Additionally, we can give each of these scenarios a probability. We can therefore still make decisions based on the probability we assign to each possible result even though we can never know for sure what will happen.

So even if we can't be 100% certain, we can still make an informed decision about how much to invest in Bitcoin, how much risk to take, etc. so when I say there's an exception, what I simply mean is that, with the facts gathered from both present and past events, the probabilities assigned to Bitcoin acting differently from it's past performances. Considering those probabilities as certainty is the risk involved in Investment. Without the risks, there won't be any rewards.

Yeah I already switched to Electrum. My experience with Mycelium was a long time ago I noticed the inconveniences the wallet gave and so I had to switch to a more secure and better wallet.

Yes, I agree that past performances do not guarantee future results but we can agree that Bitcoin is the most established Crypto asset with the highest capitalization thereby giving some sort of advantage because there's only one out of a million chances that Bitcoin is going to crash or that it's going to dip and fail to recover. Again,  when we say past performances doesn't guarantee future results in Bitcoin, there could be exceptions when you're investing for the long-term, whether using the DCA or Lump Sum.

Yes, when it comes to DCAing, consistency is crucial. You won't truly reaping the benefits of DCAing if you simply buy when the price is high and sell when it falls. Additionally, I believe it's important to keep in mind that DCAing is only a method that might help to lower risk and possibly improve profits over time and not a guarantee of profit because anything can happen in the world of bitcoin.

I believe the wallet I used was called the Mycelium Wallet, that was the first time I tried using the wallet and I can't tell the reason the transaction as wasn't successful

That's true. risk will always be present in investing, regardless of the technique you use. However, as you pointed out, there are ways to reduce that risk, including lump sum investment and DCA. It's important, in my opinion, to keep in mind that everyone has a different level of risk tolerance; some people may feel more at ease with certain levels of risk, while others may wish to lessen it.  

In any case, I think it's critical to take into account your personal risk profile. There is no one-size-fits-all approach to risk tolerance. Certain individuals are naturally more at ease with risk than others. It's also critical to consider your investment timeline. When investing for the long term, for instance, you could be more ready to take on more risk because you will have more time to make up for any short-term losses. However, you may want to prioritize risk minimization and exercise extra caution if you're investing for a short period of time.


Nicely said, but you can agree with me that different people have different perspective and viewpoint about Bitcoin investment. There are people who are looking for ways to invest for their future and Bitcoin happens to be one of the most profitable and safest investment that can is believe to have the ability to last almost a lifetime.
Before Bitcoin was even considered an option, people held gold as future investment for years without intentions of touching or selling a portion of it to fund their needs.

The fact you are Hodling Bitcoin doesn't mean you can't have other investments that you can run to whenever you need money. But nothing is more reassuring than having a pile of Bitcoin just lying in your wallet for years and you just live your normal while you just watch your money grow as the years go by. I'll have to disagree with you that Hodling isn't that important, because it's very much important, because I see it as the only way one can almost avoid risk of loosing money when it comes to Bitcoin investment. People who have Hodled Bitcoin for the past 10 years I believe can confirm this, because there's no way they could've made any losses, except maybe their wallets were compromised or something, but if it's loosing funds to the market, I doubt it's possible. I stand to be corrected.

Addiction is addiction and addiction is very bad because the result isn't always good, the fact that a gambler always have the urge to gamble doesn't make him an addict, neither does giving in to urges make you an addict. One sign of addiction is when your gambling life affects other areas of your life. For example, your gambling budget is 20% of your income and instead of just sticking to 20%, your gambling starts consuming and cutting into other expenses and sometimes you even end up using all your income just to satisfy your gambling urges and you only feel better when you're left with nothing. Sometimes it makes you even go as far as going to borrow from others just to continue gambling.

And just because a person smells nice, dresses nice or appears to meet up with appointments doesn't really mean he's all good, you might never know just how much damage his addiction might be causing him, not until he opens up and spills it all out to you.

I wouldn't doubt what you said about other countries not being in support of Nigeria not winning the AFCON, not like I expected winning to be easy, but honestly I feel like opposition this time is really off the hook, because i could've sworn that I sensed some foul play in the last match by the referee and whoever was directly communicating with him, because I see no reason why he would recall an offense that already passed just immediately after Victor scored the 2nd goal.

And yes, the support of Nigerians in the current AFCON competition is really massive, I have never seen such support in my life before, like it's just so massive like our lives depends on it.