Maybe I used a wrong tone but that was not my intention. I even stated that my philosophy is selling strictly base on needs because I believe Bitcoin is a safer and better investment option.

However, what I'm not comfortable with is liquidating the entire portfolio with the hope of replacing it during bear season. This does not always work. You can see the confirmation from the OP that he is starting all over again and even small this time.

In the last part of the post, the OP explained his situation which suggested he really needed to do something about it and holding Bitcoin would have still been the best thing to do because selling all without putting the funds into something that will yield more profits is a wrong move considering that he now have a family.

Obviously you got into Bitcoin early enough. Unfortunately you made the mistake of many which is the infamous "taking profits". The story is always the same for a lot of the early adopters of Bitcoin with few able to see beyond the immediate profits and held even up till now.

You have just confirmed that selling ones Bitcoin under the guise of "taking profit" might actually be a wrong decision because there are chances you might not replenish your portfolio with the proceeds and may likely spend the money in such a way you might not actually be proud of on the long run. For your case, you got married and did other things which is wonderful and fine. But you would have still done most of those things by just selling a fraction of your portfolio and not the entire assets hoping to start all over again.

In one of the thread, I made a statement that those who joined Bitcoin early and still held till date are the true believers who understood what Bitcoin was and where it was going.

I just hope your approach should be different now...  for me, I will always have a Bitcoin portfolio irrespective of the price. Selling is entirely based on needs that will never involve killing the "goose that lays the golden egg"

This is a major issue now that is affecting the entire system. The main reason is the Ordinals that are being minted on rhe Bitcoin Network. Until the hype from these NFTs die, the congestion of the mempool may continue as we will continue to see higher fees.

A way around it is to use viaBTC free accelerator.

Follow this thread for complete guide.

Listing ORDI in Binance means the hype is not dying anytime soon. If everything depends on the fading of the Ordinal hype, we will have to bear the pain of high transaction fees for a while.

What then is the need for the paid service when it is higher than the fee needed to get transaction confirmed? It seems it's a wrong calculation on their part

If you scroll up a little, you will see where I made this post regarding this statement of "investing what you can afford to lose". This statement appears to be wrong if you give it a critical thought and it makes Bitcoin investment appear like gambling. Like I said before, the right statement should be "invest money you can hold for long, money you don't have urgent need of".

If we begin to guide newcomers in this direction, they would have already developed the heart of hodlers from the very beginning.  Since they know it will not be a quick profit venture, they will have the patience to hold even when price is not rising. Many people who introduce Bitcoin to people made them believe it was a get-rich-quick something, this is basically where the anxiety of panic selling, FOMO, and FUD come from. FUD is usually the last resort when the quick profits they were promised did not come as expected. Hence, it is necessary we make efford to change the narratives by giving people the right information.

The risk of Bitcoin is almost eliminated when enough time is given to the market to yield profits. In other words, Bitcoin is mainly risky for those that want to make profits within a very short period of time. This has be proven by the historic data of Bitcoin and we hope it continues that way.

There is no doubt that Bitcoin mixer is a great innovation. It is actually what makes Bitcoin retain some of its key attributes like privacy and anonymity. However, the recent congestion of the mempool resulting in high transaction fees and longer waiting time for transactions confirmation might have huge impact in mixing business considering that mixers usually have time range for settlement, this being unique for each mixer and often used as competitive advantage.  

Do you think this could be a major challenge to the business of coin mixing?

I have heard several bad stories about that bank including indiscriminate charges, difficulty and delayed transaction amongst others. What I find strange is how they continue to expand and dominate to remain among the top banks. Could it be that they have strong political connection?

There was even rumours of Access bank planning to buy Standard Chattered bank, a local bank planning to buy an international bank? That was strange anyways.

I have tried to open account with them on several occasions but somehow I end up not proceeding... maybe I was not just ready for their drama.

We hope CBN will step up on this matter and call them to order.

Indeed the DCA method is a wonderful way of accumulating Bitcoin such that there will be no pressure or desperation. If you have imbibed this habit, you will think more of buying than selling. I had several issues buying Bitcoin before I learnt the DCA method which have come to make the entire process easy for me. Now I buy Bitcoin without worries, the process has become seamless.


I will really recommend the DCA method for anyone starting their journey of building their Bitcoin portfolio especially those who do not have huge capital to invest at once. It is even sweeter for someone with a steady inflow of capital as it offers a unique opportunity for saving a fraction of that fund for the future and Bitcoin is a good choice as it eliminates the possibility of depreciating of assets via inflation.

You must know that it is only in Nigeria that prices of things goes only in one direction which is upward, with the marketers always ready to provide cogent reason for that. If they don't blame dollar exchange rate, they will blame cost of fuel or just anything... they must find something to say is the reason for the hyke in price.

Before bulk purchase was helping but now it's almost the same thing. For instance, buying rice, beans and garri in bag is the same thing as buying in rubbers. Buying groundnut oil in gallon is almost the same as buying in bottles.  The stuff is really biting hard. The only way out now is to make more money because the prices are not coming down again.

Perhaps you need to read my response again and that of the OP. He has $6 dollar in Trust wallet and is unable to send it out because of UTXO error. My suggestion was for him to use Electrum wallet and set the fee to 10sats/byte, this will enable him to send the transaction which will not be possible in Trust Wallet. After sending, he can use ViaBTC to facilitate the confirmation. I don't know if you read anything different from this from my comment.

This has become an issue of recent pending when the Ordinal hype will die. But there is a way around it, @Charles-Tim made this post in our local board and it has helped me complete some transactions cheaper and faster. He recommended using ViaBTC to make the transaction confirmaton faster. You must know that Trust wallet is can misbehave sometimes and will never allow you to withdraw that money. What you will do is to follow these steps:

1. download Electrum wallet, then import your wallet using the seed phrase.
2.  Initiate the transaction by selecting mempool then set the fee to at least 10sats/byte then send it.
3. Copy the TX and paste it in https://www.viabtc.com/tools/txaccelerator/

The transaction will be accelerated and confirmed faster. I have tested this and spend approximately $2. You can spend less but ensure you put the fee between 10 to 20sats/byte.

Goodluck.  

This thing no surprise me at all, I know say e go be like that. Many things cause the thing we dey complain about now. First you supposed know say Nigeria no get better price monitoring and control agency, even if we get, them no dey do their work. As e be so for Naija, every oma dey fix their price, as them take buy na so them take dey sell.

The second part be say, our economy no make sense as e be so now. Even people wey dey do business no dey find am funny. Make we no forget say plenty people have been forced out of business because say them no fit cope. People dey adjust themselves, cutting down how them take they buy and use things. This one dey affect the business so much because of low sales. Base on this, any customer them catch wey dey in serious needs must use him eyes see shege untop people wey dey sell.

My advise be say make we dey adjust our spending too to cope and make we also increase the hustle so that money go brekete to take buy things even if them increase the price. Lastly, make we no put hand for illegal because e no dey give peace of mind.

Bitcointalk username: odohu
Forum rank: Full Member
bech32 address: bc1q33lqka5f3g2easxykrm4wwkh0cmrd8zv42n9l9

How do you factor I risk to reward ratio with single bet option? What has been your win rate? Do you consider it profitable on the long run? I do believe that gambling requires strategy thats why I use the bet builder and focus in winning one bet in at least ten bets and this covers all the losses and still keep me in good profits.

There are other factors I do consider too which I might not be able to detailed here. So far, it has been working for me and that's the most important thing.

What I see is a deliberate attempt to spread fud with the aim of discouraging more buys so price can give them a discounted entry. I know JB Morgan have interest in Bitcoin even though they have not had the boldness to come out openly. The rally they referred to actually caught a lot of them unawares and also show them that Bitcoin is not to be written off as most of the big cooperations are making people think.

They will continue to be wrong as far as Bitcoin is concerned and soon they will realise that "if you can't beat them, join them"

I was thinking in this direction but there is no substantive evidence to support the claim. When the erroneous tweet by Cointelegraph came out, market responded vigorously leading to a gain of over $5k with few hours before the news was debunked and clarifications made that saw price drop abruptly. This is much of the effect I know the ETF news had on the Bitcoin market. After few days the market rallied and even exceeded the price the ETF news took it to. So I will not assume the news of the ETF is entirely responsible for the gains recorded in Bitcoin price recently... there should be other factors which are yet to be clear.


There may be exception this year unless perhaps, the ETF applications get rejected which will send a shock to the market. However, should the ETF get approval by January 2024, we might not see any serious dip prior to the halving. Nevertheless, it is always safer to keep an open mind and watch the market do what it pleases even as we prepare for whatever be the outcome.

$1.7k drop in price is not what I consider a major dip for a volatile asset like Bitcoin, however, any price below the ATH is still a good entry point for me. The problem with buying the dip is that at the point we are now, it is not clear if price will drop further or continue to uptrend that it has been on for weeks now. For those who buy the dip and hope to profit on the short term, they might enter and price drop further thereby putting them in a situation of anxiety and worry.

To be clear, even though I don't consider this recent drop as the dip, I still consider the price a good entry point because, to me, buying anywhere below the ATH is still perfect entry for me. I think my view also agree with the caption of the thread because every point at this moment is a dip, hence we can buy as much as we can at this moment.

I actually have been using the DCA method for some months now and so far, it has been a wonderful journey with my portfolio in net profit because majority of my holdings were bought below $30k.

Recent developments have brought some form of uncertainties regarding the future of Bitcoin. Consequently,
several posts have been raised to that effect yet they are left with no clear answers. If we were to go back to the roots, Satoshi himself would have been in the position to answer some of the key questions such as:

1. The fate of Bitcoin as regards to high fees when the block reward gets to zero

2. If He envisaged things like Ordinals being launched on the Bitcoin Network.

3. If he actually projected mainstream adoption of Bitcoin in term of the features of Bitcoin such as speed, security, accessibility as cost effectiveness, base on present realities.

There should be others so I feel we can make this a discussion while I expect answers from those who have.

Are you then confirming that the fate of Bitcoin is high fees? My answer is yes, not immediately but it will eventually get their. Mining is a business and all businesses thrive on profits. When block reward hits zero, miners must find a way to remain in profits as without them there will be chaos.

I don't know if this was set out ab initio by Satoshi himself, and if that be the case, it makes the whole thing complex. How do we push for mainstream adoption of Bitcoin when the fees sending a Bitcoin transaction is triple that of conventional payment system? How do one opt for Bitcoin transaction when it takes days to settle payments if the high fees are not paid?

There are many things that are not so clear about the future of Bitcoin

The event is available in several betting sites such as Sportybet, MegaPari and others. MegaPari accept crypto deposit and withdrawal.

However, the odd for the two platforms I check is about 1.64 which is far less than what flashscore is giving. Maybe the odd is reducing upon the perception that the game will play. I will check to see if to join you and play the game too.