In my opinion, I suggest that should be the right amount of money a person or group of persons should have as funds for investment into an exchange before they are given the license,  because exchanges are not like traditional banks which can easily set up insurance and we barely hear about bank hacks. But in exchanges, the topic of hack is just a day to day news headline, as hackers are trying every now and then to crack through exchanges.

Here is a link to some hacks on exchanges and crypto wallets
https://www.investopedia.com/news/largest-cryptocurrency-hacks-so-far-year/

Majority of those hacks are more than the expected amount for an exchange startup, so yes I fully agree with the SEC, and just as you mentioned, when running an exchange you'll be needing a very strong programmer/cyber security to work consistently In buildings the best security for their exchange. Just like what happened to ledger and their coin connect. It was after the hack, that they realized that security is something that needs consistent upgrade. In as much as it will be a newly launched exchange, it will be one of the major targets of hackers. For we to be rest assured we are making use of a secured exchange, first of all the developers have to guarantee us by making huge investment in their project.

Who be this one na?😂 Omor you just make me laugh until tears come out from my eyes. Shoo na every truth una dey talk?   anyway that na true matter we gats work together. No be the one wey one of our brother go dey report some of us(em fellow Nigerians) dey give DT member just because of merit wey e wan get, that na very wicked act. And wattin pain me na be say, all of us wey e report we no do anything  bad against the rules. Even the DT member sef come see the matter come support us. out of everybody wey make that same thing wey em be think say na error na only Nigerians em fit fish out. Anyway I don forgive am, but make we no dey do all those kind of things to our fellow brothers and sister hear for this forum, as we be like this, just take am say we be one blood, make love just dey flow.

To Mr obari, you never miss any eventful something for this local board, things still dey work the way e dey before and more newbies don enter the forum. The only thing na be say, we still dey beg newbies make them try change their off topic posting pattern l, if them never get better quality thing to post them make them just dey make comments rather than to shippost for the local board.

For sure what we are experiencing now is price manipulation, but since we know what their plans are, we don't need to panic or behave like a newbie investors. Right from the start when the price dipped to $42k I saw that as a massive opportunity to buy more, and since that time my accumulation price has increased because that might be the least the price can go before the bull run. And when the price dipped further to $39k I became more aggressive. Despite the manipulation, I still believe that the pump we all expected will definitely come to play but gradually. Currently the price is now at $41k it might pump again after a while, because even the manipulation caused by Grayscale can only reach a certain amount and after that Bitcoin network will definitely resist the manipulation to work normally.

The major problem to this situation is not because they are scared of volatility of the market, but because of several scams they have encountered. Crypto being one of the major targets for scammers/ hacker is just something that look too risky for them to put in their money. Though you are right if we consider their age and their rise in BP based on the volatility of the market. But we still have some aged person who believes in crypto and understand how the market works, so such person aren't gonna get such sickness. However when once someone is becoming aged I recommend he buys only Bitcoin to reduce his.

I don't agree with you. One can become and addicted gambler and still makes good, addiction has to do with time mostly while money comes after. So irresponsible is the second term used in describing someone who is addicted and make loses while it become very obvious that he is a gambler. There are some addicted gambler that you'll always find them in the casino hall gambling but, outside the casino, they live a good life, drive good cars. And dress as though life has offered them a jackpot.

Mere looking at your user rank and your posts, it explains in details that you are a scam and you've only come for just that purpose. You should have known by now if only you are genuine that scammers aren't welcome In this forum, talk more of Nigerian local board. Please moderator, I humbly request that you help lock this thread to avoid victims from the forum falling into cheap scam like this. Beside the interface of the scam site look too childish.

You sound like one who is just experiencing the market not too long. In essence, you sound like a newbie, and I don't think you understand properly what I said. Making 30% Bitcoin investment off your salary for a month is enough when you have an emergency fund. Besides I didn't say you'll have to use that amount for ever, you invest based on your financial status. And with the way you sound, it looks as though you haven't developed enough trust for Bitcoin, anyway I can't blame you, if only you have don extensive research about Bitcoin, all doubt will be cleared. If you observe closely when I recommend 30% of your income going for Bitcoin accumulation is when you must have secured an emergency fund that can sustain you for at least three month, then you can boldly increase you DCA during dips like this, and should in case it doesn't favour you too well, after the investment you can use from you emergency fund to meet up your needs while you reduce your DCA amount and refill your emergency fund.


Ambatman, this is exactly what I recommend you do. Trust me of your income is very low, then you must make plans before you end up doing what will back fire. But if you have the opportunity to invest higher amount, don't hesitate because, you'll regret in the future for not buying enough while the price was still fair.  You sounded more like someone who believes in Bitcoin in your other posts, but reading this one, you sound the opposite of what you believed in. However opportunities like this are rear, and since we got to experience this one, the best thing to do is to take advantage of it. Because currently the market look as though it has finished it's dump and it is getting ready for a pump, now might be the least of such price we'll experience before the halving. DCA is the most used strategy, but combining it with buy the dip, your get a flawless strategy.

I fit boldly tell you say 98% of online dating site them and apps wey you go find for the internet na scammers naim full am. That na why when ever them redirect me to all those kind site from my browser I dey always dey frown dey block all their ads. You fit go see girl dey talk with wey be say na Ai you dey talk you for real or e fit be say na man you dey follow gist for 3 weeks. Most of all this yahoo boys na from there some take dey get client. And talking about just meeting person and trying to impress, my brother na yourself you dey do oo. Because even if the girl no turn out to be scam, you go dey on steady billing, and that kind billing na the ones wey fit empty your account if you no wise. No matter the girl wey you date, no allow her see your pocket finish. Some come for money and nothing else.

If you have read my post, you'll understand that I am in the same page with you guys, I shared my experience on the change in price of things in the market due to the recent increase in dollar. I posted the Bitcoin price because  for long we haven't updated the price movement of bit oin here in this speculation thread. If proper care is not taken, the exchange rate of dollar to naira might hit #1500 before the end of next month, and that will just make the cost of living to increase drastically while those earning in naira will eventually feel the heat. This is just too much, within how many months the dollar to naira exchange has increased with more than #500, this is entirely not what we expected from the office of our new government.

Earlier this morning, I saw a post on social media talking about EFCC agreement with BDCs to spoil black market rate due to the increase in dollar. Please how true is this?
So we know what to expect in the next few days or weeks.  Besides we have upto 5687 licensed BDCs by the CBN so how are they gonna convince all 5687 to reduce the rate of exchange?

Roseline492 I don't think you understand properly the concept of emergency fund. It's possible the person might have been into accumulate before now, and any one who understands emergency fund knows that, they should keep enough fund that can sustain them for like 3 to four months even without their normal salary. Meaning even while using DCA strategy you are keep aside some extra for emergency funds, and with time that might help you not to tamper with your holdings. So 30% for acculturating now that the price is low is very much ok. Except the person might have accumulated enough that he might have reason to slow down a bit. But if you are not satisfied with your holding and you want to be aggressive in the dump in price, it a good idea you go on.

Let's just take for example that someone is earning $5000 a month. And he has been using 5% for DCA every week while we kept $1000 as emergency fund for the month. If such person has been into holding for upto 15months which means he must have achieve $15k as his emergency fund, there is a need for such person to add the money for his emergency fund to his DCA  making it 10% of his income every week . That is, for 2 year he has accumulated $33k worth of BTC, and if the price dips like now, he might necessary increase his DCA accumulation to 30% which is about $6k a month. Such person could now use from his emergency fund for the month, and after the dip, he returns back to the 5% weekly until he might have refilled his emergency fund before he goes to 10% weekly.

I assure you, some one with this strategy doesn't have to worry much while he life activities keeps on going smoothly.

To me, I prefer cashing out than let the bet run to the end beside the cash out  amount is always bigger than the amount you used in making your stake. Though there are some situations whereby after cashing out the bet play to your prediction and you might have won bigger if you exercise more patient, and this is the more reason some person hate cash out because the big chance they got have been missed due to lack of confidence. Knowing that gambling I'd entirely about luck and just small percentage of your ability in predictions, I will cash out if I have to.

Rightly said, yesterday I say make I enter market to buy somekind things for my self. Omor wattin I eye see just trouble my heart, something of N6k in the month of December now Dem say na N13k when I waka like 5 place  and the price just dey stagnant na for there I take know say these people no dey play at all. So as dollar dey increase e dey affect us individually nobody go fit escape.

Omor the price of Bitcoin just dey shock everybody, because the price predictions and expectations don too many for the price to dip like this. Anyway we don get small hit why the price dey dump. Grayscale selling that huge amount of Bitcoin just be like price manipulation. But this na opportunity to buy more.


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Guy e be like say you dey mistake the definition of Bitcoin and shitcoin, before I clear you for that part, I go like make you know wattin shitcoin be. Shitcoin na coin wey be say dem create for the market wey come get small value come go back down, or coin wey since them create am e go gree get value at all, or you fit call all those scam project shitcoins. Many of those meme coins wey go pump until Dem go come start to dey dump until Dem mo get value again, we dey call those type shitcoins. And besides most of those shitcoins Dem volatile pass Bitcoin by far, in fact Bitcoin no even volatile reach some altcoins for the crypto network. If you observe closely when the market dey experience some pump, you go see say while Bitcoin dey like 6%increase some coins dey count 23% and when the market dey dump na so them dey use that same energy wey Dem use take pump take dump.  And coin like that nor dey too last for market before you go know them don turn shitcoin.

More years to come, altcoins no go fit take the place of Bitcoin for the crypto network. Some of them sef go fall after the halving event as the dump in price go take place after the halving some of those coin no go fit again their sef and na so them go just die like that, beside Bitcoin na long term while some of those coins na just for short period , maybe for just 1 month or 3 before them lost for the market. So una wey dey buy altcoin make una dey careful not to go buy shitcoin wey don already dey go down thinking say e go rise up one day.

Currently like this our boss them don dey take action move off topic threads to off topic board, and if them do you that kind thing, you supposed dey disappointed at your self. So make we try increase quality post and Bitcoin discussion for this board. Newbies una see say the merit distribution no dey flow well, and that na because na only one merit source wey we get for this local board. If to say we get reach 3 or 2 e for dey better, but as e don be, our boss them still go apply to become merit source. But Theymos never still accept am, and that fit be because of say e dey see shitpost them for the board, meanwhile we dey tell am say many quality dey wey no get merit.

So no be say we dey try to dey rude or we just feel like to wicked, the benefit of wattin we dey do na everybody go enjoy, by the time we get extra merit source we all go dey get merit for our quality post wey we sit down construct of more than 20min. So make una try una best to keep the forum clean from shitpost abeg.

As newbie wey you be, the advise wey I get to give you na be say, make you do enough reading rather than postings. You fit dey post one or two, but make your major work for now be reading, try they read quality informative threads especially the ones talking about Bitcoin, you go see say in no time you go get quality knowledge to fit dey contribute and that go eventually give you merit.

Almost everybody start from newbie, na only few person wey as Dem come the forum Dem don already get knowledge about Bitcoin, so their post from day one dey make sense with quality. But me I start with zero knowledge but I come go find material online dey read, plus the one wey I see for this forum. Before you know I don dey get small knowledge wey I take dey contribute for as comments. And one thing na be say make you make more of comment than posting thread. From Commenting on other people thread e go help you learn to build constructive post.

For sure, anything that has to do with crypto investment has to happen now, before the halving if not you might end up having regrets. Now the entire market is experiencing a dump in price which might be due to the selling of over 16k Bitcoin by grayscale. Those who are not newbie will definitely see this as opportunity to buy more cc oins at cheaper rate before this might be the lowest dip before the halving. Within this period of the dip I have used the opportunity well by accumulating more Bitcoin I to my portfolio.

Normally anyone new into the crypto network would like to use lump sum to accumulate Bitcoin or other crypto. But when you learn of other strategies, you'll find out that there are some which are even better than just lump sum. Take for example, using the DCA( Dollar cost Averaging) which simple allows you to make little deposit to your comfort without affecting your other financial activities. Or you might even consider DCA combined with buy the dip, or even Lump sum and buy the dip. You can go as far as combining two strategies to form a new one that might suite you, based on your financial abilities.

E be like say I don dey see some moved topics, great action. Na like this small small we go take dey clean the local board from original off topic post. Any post wey you know say off topic well well, abeg una fit even report am to the moderator make e for move am to off topic. But this action go really work faster when the account wey dey report get reputation. That is, if na higher rank the moderator go reason am pass when na just newbie, jr member or member rank. Let's work hand in hand to help our local board.

Don't get me wrong, the fact that you haven't heard any talk about being scammed those mean they have experience it, besides the scam I mentioned earlier is one binance exchange, and not everyone uses binance exchange here. We were told not to keep our coins in exchanges so we only trade but not keep to keep our assets there for long.and beside that, I believe we Nigerian are very intelligent enough to fall for some scams that even an advanced outside man can't resist falling for. Some time I wonder if those who fall for some certain scam are so dumb enough to be blinded with enticing words.

Absolutely correct mate, they are actually trying to manipulate the market by selling very large amount of Bitcoin out. As of yesterday, they sold not less than 16,450BTC worth $656M. I don't think there is another reason that might justify this action if not to create panic in the market and and newbies who don't know what Bitcoin is would start selling their coins instead of buying as the price decreases.



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Anyway, these changes and price dump are only opportunity for real Bitcoin enthusiast, but those new or without proper knowledge of what Bitcoin is might sell their asset.


I saw a post recently were a user is expecting more dip before he will buy. I don't know where they are getting that courage from, it seems the social Media is now winning some investors into believe their predictions that are created by human which are prone to error. Predictions cannot be 100% accurate all the time, that is why we need to be careful what we receive from the Media and social gathering. Some persons who seem friendly are big haters of Bitcoin.