E dey sweet me to see new people join us for this forum because e sure say we dey make progress for Naija. So feel at home and ensure you follow up make you know as things dey sup for here. I know say e no dey easy for beginners as e be say Bitcoin dey new to them and navigating a forum like this no be one dey job. But I advice you to have faith say as others take run am, you too go do am.

To make life easy for you, go for Biginners & Help board and read up plenty post as e take concern newbies and wetin them supposed know for Bitcoin, the forum and the entire cryptocurrency space. This na wetin go make you appreciate what is happening in the forum.

Seems a lot of us are seeing the same thing regarding the performance of Bitcoin in 2024. I truly love the optimism in the Bitcoin community and we look forward to a historic year for Bitcoin. I just hope we are all taking advantage of the opportunities this year offered us to buy as much as we can to be able to ride the expected wave of 2024. The recent market condition is an indication that the bulls are already entering the market and as soon as we break the $38k resistance, price may not return to the lower $30k region before the halving.

As far as the market is concerned, no one is sure of anything. In Bitcoin, nothing is guaranteed and nothing is promised, all we are doing is making informed prediction and hope the market follow through.

Unfortunately,  what you are suggesting is akin to the authorities handing over their power, their authorities and the very thing that enable them decide "who gets what, when and how". Imagine government allowing Bitcoin to flourish,  lifting all restrictions and limitations placed on it and allowing citizens to decide what they prefer. Do you think many will not choose Bitcoin? Do you think that their is much the authorities can do stop inflation? If there was anything to be done to stop it, some countries would have done it and inflation will not be happening across all currency. As long as they have the power to print unlimited supply of fiat currency, inflation is bound to become a recurring decimal.

The authorities thrive by the control they have over the financial system and anything that threatens that power will be resisted or at least forced to conform to their terms and conditions.

Ignoring Bitcoin is like ignoring someone who comes to take your land, resources and even your wife. How can you ignore something that you cannot ignore? There was a time my country threatened to ban Binance because they complained that the money people have in Binance was bigger than what they have in their bank accounts. People were practically saving their funds in Bitcoin and USDT rather than in the banks and this was affecting the banks in terms of lending power.

Bitcoin cannot be ignored even if they try.

Do you know the money you might be thinking is too big might actually be peanut for him? Do you qualify gambling addiction by hoe much one loses? Do you feel someone have overcome addiction when they win often? These are the basic questions you need to ask to be able to understand the situation of your friend.

From your explanation, he might not actually be addicted but just following his plans. Winning does not just come easily, it takes time and its possible that few of his wins will cover all he has lost. If you have access to him, the best thing to do is to engage him in a discussion to be to understand what he is doing better and if he really needs help.

This comparison is not always true because the target for both will be different. The rich can place a bet of $10k to target $15k which the poor will not see $15 winning from a $10 bet as anything. Indeed $5k profits is satisfying where as $5 profit will be seen as a waste of time. Hence the power will want to add more games to raise the profit to like $50 and by doing this, they will end up losing everything.

I still feel the OP is right that the rich win more in gambling, the reason is many.

Channelling your Bitcoin to a business that accept Bitcoin is a major way of supporting Bitcoin and inclined with the core reason for the creation of Bitcoin. Buying and holding Bitcoin I your wallet with the expectations that it will yield some profits is not the motivation of Satoshi even though it is natural that anything that offers solution to real life problem will become something of value.  

The beauty of Bitcoin and the blockchain technology is in use case; a situation where many businesses will adopt and integrate Bitcoin in their operation.

If I were in your situation, I will surely push part of my portfolio into the business while keeping the rest in my wallet and building it further as time progresses.

He was a pretty smart scammer and played so well on your psychology, knowing you will first send a lower amount before sending the bigger portion after establishing the trust. Scammers use this format a lot and it usually work for them. Well, you were actually helpless in this situation because the team at Ethernity Cloud did not do well requesting for KYC long after their token sale and bounty conclusion and payment made.  Besides, they are building cloud base computing with privacy as a key word,  what then is the need for KYC?


Like I said before, it is never your fault but that if Ethernity team that changed the goal post at the dying minute. I read somewhere that their adopted KYC system banned some countries who they allowed to buy their token during their ICO years ago.

Whenever I see the word "free" my sense of security is activated because I know what the supposed free crypto can do to people who are not careful. There is a popular saying in my country that "nothing is free even in Freetown". That being said, it is important we due diligence while accessing these free crypto sites. But is there really a free crypto that will not cost someone anything?

I do not think there is free crypto anywhere because even airdrop still require the uses to perform some task in social media before filling the form. Some are outright trap to harvest users information or steal their money.

From the links you shared, it is possible they were designed to generate traffic because the procedure for accessing the supposed free crypto is not clear and requires a good investment of time and data to complete.

There is not direct answer to this question because the emphasis should not be how good you are as a gambler rather how good is your strategy. I appreciate the fact that you have come to terms that gambling is a game of probability so your sample size should be wide which is already what you are doing. Now let's face the key question.

First what is your risk to reward ratio? It is not enough to have a high win rate; what matters is how many losses can a single win cover. If your risk to reward ratio is like 1:10, you just need a single win to cover ten loses. With a win rate of 30% under this arelrangement, you are already a highly profitable gambler. If the risk to reward ratio changes, adjustments can be made to ascertain true position of the strategy. So I feel the strategy should be the focus.

There are many hypothesis suggesting that CZ pleaded guilty just to avoid further quizzing and scrutiny. Even this seems plausible, if you juxtapose the advantage of such decision and the disadvantages, you will see that the later outweighs the former. Why will someone deliberately damage such an enviable image he has built for himself in the cryptocurrency space? It does not make any sense to me. If he actually intentionally pleaded guilty to avoid further digging, it means he has more shits to cover than we can imagine.

From someone of the articles I read, his major offense was Binance romance with Iran that have been in the black book of the powers that be. This seems to me like the borne of contention.

I don't know why this issue of diversification is still coming up here when the thread is about buying Bitcoin to hodl. I think this discussion of diversification has repeated several times and is looking more like distraction. When we continue to compare different investment options in a thread the focus is supposed to be how to buy Bitcoin, many people might derail into making wrong investment decision in a bid to diversify his assets.

The forum is really big, so much that we can open a thread to discuss other investment instruments for the sake of those who might consider complimentary investment as a way of diversifying their Bitcoin portfolio. 

This is balanced and a cogent summary of this discussion. While the whales do not blink an eye over the increase in Tx fees, little fries like majority of us are sweating already over the it. I took some time to monitor some wallets I was able to connect to some popular mixers to check the flow of transactions amidst this increase in fees, I notice that while transaction of lower amounts reduced, bigger amounts are being transacted unhindered.

So the crux of the matter is that majority of us are feeling the impact of the high fees because of the amount of Bitcoin we move, this being in line with what OP is saying. But then, nobody love spending too much, so the whales will still feel happy if the fees normalises. 

A lot of the things we do while growing up were things we saw our parents or elders do while we were kids. This should be part of the reason a topic was raised here suggesting that we should not gamble before our kids ekse they will emulate us and this can have huge negative impact on them.

So the direct answer to this is a yes, the old generation does influence the younger generation to adopt gambling. Just imagine how many coverts a family will have when the dad happens to hit a life-changing jackpot. Even people that hears the testimony will join up to several generations to come.

Thanks for brining up this topic as it has reinvigorated me a little because I have been overwhelmed by workload as the year is drawing to an end and a part of me has become so discouraged and weak. Reading through this post has this way of infusing positive energy and made me realise that everything effort I have to put is for a greater good. 

I have always motivated myself with the saying that "no oain, no gain",  a popular word among those that engages in physical exercise like the gym. Lately, that word seems to have lost its value but I guess I'm back on track. I'm more than ready to pay the price!

The argument is not if this is the first time or not, it is if the network fee is high or not. If you agree with me that majority of the times the network fees was lower than fiat, and that the high network fees that happens sometimes is usually caused by something, then you will also agree with me that the post is wrong.

This is exactly the message the post is conveying even though that may not be the intention. Even some OGs still comfirm that the fee is high as it is impacting negatively on people and those who adopted Bitcoin as means of payment in their businesses.

I don't agree with you on this. Before now, this was not the case with the network fees so it is a kind of crisis in my opinion. We in the Bitcoin community do pride in the fact that Bitcoin offers the most convenient and cheapest means of sending money across borders,  but the recent increase in fees have changed that. Should we pretend about it?

How can someone spend $33 to transfer less than $1k and you think that's not high? In my local currency, you will spend around $0.1 to send that, where then is the advantage of Bitcoin in terms of cost of transaction?

Apart from scam accusation, I don't think reduction of bonuses is a red flag for me. They have to adjust their operation to remain in business, that's how I see it. I do not use the platform but I feel it is not right to discredit them just because they reduced bonus and other incentives. Do not forget that there is a fierce competition on the business so if everything they do will have direct impact on their business.

I understand you are new in the forum from your replies but obviously you are much experienced in cryptocurrency... perhaps you are learning so fast and that is impressive.

On the aspect of reply, you can actually reply to so many comments in one post and not to reply them individually in several posts which make it appear like spamming.

This agree with my views as well. We have a relatively new technology here that requires patience, more innovations and some level of faith.

Prediction 2: $40,200
bech32 Address: bc1q33lqka5f3g2easxykrm4wwkh0cmrd8zv42n9l9

Even though it is expected that we have some level of faith in Bitcoin to be well invested in it, we should not forget that nothing is guaranteed, nothing is promised. I don't think we should dwell so much on trust that we should jettison the need for responsible investing.

As a guide, what you should put in Bitcoinshoulg only be kidney you don't need urgently, money you can afford to live your normal life without it. This is why the DCA method is recommended for anyone willing to venture into Bitcoin.