Perhaps what is even the need of always waiting for the dip before accumulating when you that even if the price of Bitcoin dips we cannot even accumulate a reasonable amount of Bitcoin due to how small our investment portfolio is
Funny how you concluded that we are all small fries; seems you don't believe someone of the participants in this discussion can actually could actually be holding a huge portfolio. Well, I doubt if there is any MicroStrategy investor here, so your point is noted. The ATH of Bitcoin is $69k and price is still below this price. Until price breaks this high, we are still at a good price to buy. At $35k, Bitcoin have offered 50% discount to anyone who buys now; this is simple mathematics. Whenever there is any bull run, the first target will be the ATH, this will already put those buying now in 50% profits.
Your math on the way down is correct, but your math on the way up is not correct. Let's look at it. ATH $69k, Current price $34,500 - 50% drop in value from ATH - however, ATH = 100% increase in value. That is ONE of the interesting things about math including the non-use of leverage, the most that we could lose is 100%, but there are a variety of scenarios in which we could end up making more than 100%, which has already happened multiple times in BTC's history and likely to continue to repeat itself. I'm surprised how this maths beats me; even simple logic would have made me realise this mistake but I was thinking in one direction only. Thank you @JayJuanGee for the correction. When price returns to the ATH, which is likely happening any moment from next year with other things being equal, it will actually be a major kill for those who would buy now Anyone who bought BTC below $17,250 made at least 100% when BTC prices went above $34,500, even if they may well chose not to cash out much if any of their BTC, then they end up having options, but they also start to experience more and more the power of exponential growth (and the power of compounding).. because the next doubling, if it ends up taking place to $69k, would end up causing the one who bought below $17,250 to have at least 3x in profits and 4x the original amount.
This is a testimony to the fact that Bitcoin has enormous potential to change someone's financial fortune within a short time. Within a space of five months, Bitcoin have given 100% profit. |
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doesn't make it the "tool for terrorism" as the governments want people to believe.
Is this really a thing that governments are discussing these days? Because the other day I saw another topic around the same subject here and despite the FUD about illicit usage being old it makes me wonder whether they are starting it up again? It is actually happening in many countries. As a matter of fact, Bangladesh banned Bitcoin through different conjectures that do not hold any substance. India too was not too friendly with Bitcoin for various poor reasons, I don't know if that have changed now. Terrorism is usually the major point they use and even form the second core basis for KYC by the CEX after money laundering. |
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The caption is actually confusing because using the word "investors" and not "some investors" is actually equivocal. There is no doubt Bitcoin has gained significant popularity given the uncertainties in the global political and financial systems. A lot of investors are actually looking for a safe haven, but I wouldn't say Bitcoin is their choice already.
The approval of some of the Bitcoin ETF will actually pave the way for some of these investors to enter into Bitcoin.
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The price of $35k is not too high compared to the possibility that bitcoin could reach above $100k. There is still plenty of time to buy when the price drops but it depends on one's plan. Dip has provided the advantage of buying at low prices but there are still many people who don't want to use it. However, if they are willing to buy with their budget, they can accumulate more bitcoins.
And they will regret it when the price changes to $40k-$50k. They became increasingly desperate when they saw the price go to $60k-$70k because they didn't buy bitcoin.
The ATH of Bitcoin is $69k and price is still below this price. Until price breaks this high, we are still at a good price to buy. At $35k, Bitcoin have offered 50% discount to anyone who buys now; this is simple mathematics. Whenever there is any bull run, the first target will be the ATH, this will already put those buying now in 50% profits. Those of us that embraced the DCA method early are already in overall profits even though that is not the immediate target. Holding for long term is the ultimate goal and so far, the DCA method has help me inculcate the culture of thinking buy rather than sell. |
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BTC and It's CyclesThis is an amazing chart I have saved for more than a year now, it predicted the 2022 Cycle Low correctly. It's made by someone else, I do not remember the user however I have it saved. I just wanted to share this as many people here do not believe in the 4-Year Bitcoin Cycle. Here's a live proof of that being executed every cycle. The next possible Cycle High is in August, 2025-November, 2025. This is a good and detailed analysis I must admit. However, I am suspecting major adjustments in this, considering a lot of factors that will come into play in this market cycle. Next years halving might likely happen the same time that Bitcoin ETF will be approved with the later a powerful fundamental to cause Bitcoin achieve a new ATH. So, this combination might be a powerful combination to initiate an astronomical bull run before 2025. I will not be surprised if the bull run actually starts before 2025, when the whole world least expected. It will be a way of maintaining the dynamic nature of the market. Indeed, next year will truly be interesting year for Bitcoin as it will clear some myth about Bitcoin. |
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Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.
And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.
If he starts again and play Bitcoin only like you suggested, he will still loose. Features trading is not for everyone and very risky. You must learn the skills before attempting to do it. What I will suggest is buying and holding Bitcoin for long else he will loose more. Long term hold is a safer way of making good money with little efforts. Now the price is low, not up to the ATH, imagine how explosive the rise will be when ETF is approved next year together with the Bitcoin halving... that will be a massive gain for those holding. |
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Let us discuss in this thread the things one should completely avoid while gambling. Here are some suggestions according to me :
1) Do not gamble in work area : It is not ethical to do so. Your employer is paying you to work for him for certain hours. If you waste these hours for gambling, it is a bad habit.
This depends on your type of work and how much gambling can impact your job. I don't see how spending ten minutes to place sports bet will affect someone working as backoffice staff in a servicing company whose job is routine and not pressing. For people handling critical operations that requires high psychological focus, gambling may be discouraged. 2) Do not take loan to gamble: Some young guys are so irresponsible that they take loans to gamble. It is a very bad move and can even produce life threatening conditions in future when loan recover agents knock your door.
This is the worst thing any gambler should do. There is high chance such funds will be lost. I have tried it several times when I was less experienced and it never always end well. Gambling should be done with spared funds, money one can afford to loose. No one can afford to loose borrowed funds (money they do not have). To add to what you already suggested, gamblers should learn to take a break after series of losses or after a major win. This is good for the psychology. |
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I think this coming from a newbie will make more sense to the newbies than when it come from the older guys. This issue have lingered here and I suggest we all grab the message already and face the bigger things.
While we also focus on post quality and how to make here better and more engaging, I hope we are building our Bitcoin portfolios? I have repeatedly said this because I know how important it will be for us all to own Bitcoin before the next bull market. There is already enough information here for anyone willing to start this journey of Bitcoin accumulation.
I actually feel somehow seeing that lots of the OGs who own huge stash of Bitcoin are not omo Naija even when we know say Naija no dey carry last. E be like we dey last for that one yet and I want that to change.
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That's right, OP. BTC is not a risky asset and just fluctuates whether it is slow or fast. We will be educated and have a basic understanding of how it works if we pay attention.
Well, if we look at the strong growth in Bitcoin prices, currently there may be many investors, institutions who have the argument that the traditional currency is ready to face disruption. At least BTC is seen as a psychological support level but I strongly believe this is because Bitcoin is much more stable than altcoins and there are many other trading influences on the price.
These are all important points because the market is not always predictable.
Based on what factors do you say that bitcoin is not a risky asset? If you compare bitcoin with altcoins then bitcoin is much safer but if you compare it with gold and traditional assets then it is a risky asset. Bitcoin's growth is incredible but that doesn't mean it is a risk-free asset. For bitcoin to become a safe haven, many factors are needed and I agree with what @retreat has mentioned, popularity, government acceptance, regulations...Bitcoin does not yet meet those criteria to be called a safe haven. I am also interested in learning your reason for saying that Bitcoin is a risky asset. If you buy gold today or stock, you will not sell the next day, you will probably hold for years or until you see considerable profits. Can you do the same for Bitcoin and not make profit? People tend to use double standard for Bitcoin, they want quick profits from Bitcoin but when it come to other asset or investment instruments, they are patient. I have checked the historic data of Bitcoin, within every five years, Bitcoin always give huge profits irrespective of the entry price. This is not what I consider as risky because the only risk is when sold at the wrong time. Those who bought at the peak of 2021 might still be in loss in terms of dollars but the Bitcoin quantity is still intact and hopefully before 2026, price might surpass their entry price and give them good profits. Even this is not guaranteed but the chances are high. I don't really see Bitcoin as too risky. |
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Even though it was good news because it came from the automotive manufacturer Ferrari, I was not too enthusiastic about buying it because I would rather use Bitcoin for other more useful things.
But some rich people will buy a Ferrari using bitcoin because owning a Ferrari is a matter of pride and can raise their status among other rich people.
Maybe some young crypto investors are also interested in buying a Ferrari using bitcoin, but for other investors, they won't buy the Ferrari.
After all, buying a Ferrari means someone is very rich and not for most people, especially for small bitcoin investors.
The first thing that entered my mind was Elon Musk and his Tesla adventure in Bitcoin. Even though it is difficult to know how this one will turn out in the near future, it is a little difficult believing that this will end well for Bitcoin. The memory of Elon Musk is still fresh because it appears like he manipulated the market then for profits. We should not be carried away by these businessmen entering into Bitcoin probably to catch the trend. With or without them, Bitcoin will always remain relevant and popular. |
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I don follow for plenty discussion wey resemble this kind matter for the general board and true true, e no dey easy to dey reason investment when nothing gum you, abi na your spirit you wan invest? But the matter be say, e no get how person go dey from year to year wey something no for dey enter him hands once once. Maybe people go dey reason stable income.
From wetin experienced guys them talk especially some oyibo them wey get eye of investment, you fit still invest in Bitcoin even if money dey enter your hand once in three months. Them suggest say na DCA method be the koko, where you fit dey plan yourself base on say na in three months money go enter your hands. Them put am say you fit dey put even if na just 10% of that money untop investment because if 90% no do you, 100% no go do you. So the best thing na to set aside 10% of every money wey enter your hand, then use am dey invest in Bitcoin.
I see sense for this thing because I notice say some of us wan hammer first before we talk about investing, we dey neglect the power of little beginning and that one no make sense at all. If person decide today say for every money we enter hand, 10% go enter for Bitcoin, before one year, that money go don big wella. Make we try reason this idea sha
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Ah notice say for the Hugeblack wey they try merit local boards for quality post, nah our LB members plenty for there, if him con notice say among all the post wey they there nah our LB get the most shitpost and spammers e fit repot our LB to moderators.
Na we plenty pass na because na just one merit source we get, and who tell u say na we get d most shitpost? Because u no understand other people language no mean say u go just jump into conclusion say na dem dey write better things. u sabi Wetin other people wey him dey merit dey post? U know maybe dem even worst pass us? You shouldn’t just jump into conclusion like that. From the way this matter dey go so, e be like say na we wan use our hand cast this our local board. Make una no do na... the wahala of spam post and low quality na general problem for the forum, make we no carry am for head before all these big oga go change am for us say na we dey do am pass. So far we no know wetin dey sup for other local boards, make we no go wash our nakedness outside. Normally no be only our local board get the same problem, but if other local board no they reason or try to harness this problem e no mean say we go follow them. Most of those local board wey u they talk about get merit source o, which make them get strong ground pass us. Us here we still they find way make them give us merit source. So we suppose they follow the rules so that they go look into our matter give us merit source then our ground fit strong more for the forum.
I know say we no suppose follow them, na y I talk say make we look for another alternative rather than tagging or reporting them. No be merit source wey other boards get make dem strong pass us, na cooperation make dem strong pass us, if we are also cooperated, you will see that we will also be strong, but dis one wey dey wan start now go just cause more harm to dis local board. Tagging people from our local board go do more damage than good. E go make people fear to say their mind and people wey their mind no strong go run leave the forum. Make we no forget say e get people wey dey new to Bitcoin and even the forum, e no go good make we dey use iron hand dey follow people... there is always another way to achieving good results. |
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You will agree with me that in our present country, It is not the most hard working that is the richest but the most smart working. The hardest labor and jobs are no longer the highest paying jobs, people sit at home and make the total money for a year that just a hard worker and not a smart worker can make.
OP this thing you yan so na the koko be that and e dey for everywhere no be for Naija alone. Even for Yankee, na smart work dey give better bread. Life expectancy for Nigerians dey short because of bad health care and poor environment, we nor need to add stress to am, make we for nor go die quick. While we dey try to make money, we gats focus majorly on finding smartways to make money, not just depending on harwork, Hardwork alone no longer incurs success.
This one dey fear me no be small. Our grandpa them been live long and very strong before them kpai but today you go see young people them dey die anyhow even when them still dey change oil. I know say environment follow dey cause thus thing but you see thinking and stress ehh, their hand no dey pure for the matter. So smart work, wey go pay better money untop small effort, na the sure banker. Some examples of smart ways to make money are;
be social and make good friends who you can grow with. The information you have can determine if you will have money or not, try get friends wey una dey talk better things like how to make more money.
Do your research then invest in where others dey invest. People dey invest in bitcoins, invest in bitcoins.
Share some other smart ways to make money.
This one them na good options especially Bitcoin. I wan also add YouTube wey many Naija guys don dey use dey cashout big time. Na just to fine something wey make sense and run the video and money go boku brekete. |
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The both teams are playing well currently and I seeing the game as a tough match, which I can't say which team will win the way the match is going on.but it may possible the game should end in draw because if any team score they are high probability that the opponent will equalize because the both teams are give good attacking. It is ac Milan home game and with that I never think ac Milan will take it easy with psg despite I know psg is the stronger team, but let see what will happen at the end of the game because first half is about to end.
To be honest, It was the most entertaining match between all of the others tonight. What impressed me and out of the game is the supporters' tifo of Ac Milan that was a response to the first leg match for PSG fans. The first half was good in all sides from fans to goals and game play. Ac Milan played well today and they had more chances after the draw, which was a good boost for them to give their best for anothr goal. They didn't succeed in first half with many close chances, if PSG don't do something in their defensive lines they will lose the match. Is anyone here betting from now, I mean odds of the second half? Indeed, AC Milan against PSG is the match of the night, very entertaining like you said and with a touch of surprises. Who would have imagined that PSG will have a hard time with Milan tonight with the later already leading with two goals to one at the fifty seventh minutes following the goal from Olivier Giroud. If Milan can keep the pace and tempto of the match amidst their astonishing supporters, it will not be strange seeing them take the three points. With four yellow cards already, PSG will have to play with extra caution to avoid any player getting a second yellow card. |
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I know that many people try to stop gambling or reduce the intensity of their gambling because of several factors such as running out of money, being scolded by their wife, being scolded by their parents, or piling up debts. Irresponsible gambling will make us have bad conditions. I don't hope we will experience something like that because after all gambling is fun and full of challenges
But let's imagine, what kind of conditions might make you stop gambling?
I have tried to stop gambling at some points kn time but it was not easy. Not that I'm addicted to gambling but I tralised there was no point quitting because I have made seriius adjustments in my gambling such that it does not affect me much. As a personal rule, whenever I experience series of losses, o go on a break. I have learnt never to chase losses because it only lead to more losses. It is possible I will stop when I play over a long range of time and realised winning isn't coming as I expected. While this is possibility, I don't see it happening so soon. |
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dollar is not advertised but businesses using the dollar are.. those businesses advertise themselves
gold is not advertised but businesses using gold are.. those businesses advertise themselves
bitcoin doesnt advertise itself, but businesses using bitcoin do advertise themselves
This is aligns perfectly with my understanding of Bitcoin. A store of value and a medium of exchange does not need much advertising. Perhaps the author might be considering the fact Bitcoin is yet to gain mainstream adoption as it is still used by a very small percentage of the world's population. With time Bitcoin will surely catch up with the others... probably Bitcoin ETF approval will pave the way to wilder penetration of Bitcoin. |
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Let's say, for example someone has a family of 4, and is living off of $320 per month, and so pretty much they do not have any money left over.. They pretty much spend everything that they earn for all of their expenses, so maybe then the question would be whether they have an emergency fund or not... because if they get $40 per week added to their income, that means that their monthly income has gone up 50%, so maybe that $40 per month could end up getting put into their emergency fund, but it might not be a good idea to keep that in BTC if it is serving as their emergency fund.
So the question of whether they would be able to just keep that $40 per week in BTC would depend on if they have had already established an emergency fund or not. If they have not established an emergency fund, then the BTC would be serving as their emergency fund.
I suppose I am not really questioning the life-changing nature of being able to add 50% to income (such as the hypothetical of adding $40 per week through a signature campaign), and sure I even understand that some forum members are in situations in which they are completely living off of their signature campaign, so that means that they would be needing to cash out pretty regularly, and if they don't want to devolve into a gambling posture, they may not be able to save any bitcoin from their signature campaign earnings prior to establishing an emergency fund..
I understand your detailed explanation but I want to make some clarifications because my earlier post might seem unrealistic to many readers here. I actually had a place in mind before making that post and that is the oil region of Southern Nigeria. In these region, a lot of things are provided free of charge by the oil companies operating in those areas. From electricity, pipe borne water to sometimes scholarships for students up to the university. There are no taxes for house, cars, even most business. The major areas people spend money is on clothings, foods and medicine. Under this arrangement, $40 per week is a huge amount that can still allow saving of up to $10 per week. usually emergency funds need to be in the ballpark of 3-6 months expenses.. more risky to be on the lower end and safer to have an emergency fund that is 6 months, which we know so many people do not practice, whether they are in poor locations or otherwise, there are likely way more than a majority of people who do not even have emergency funds that are 1-2 months, which surely seems quite inadequate and surely they are not really in a position to invest into anything (bitcoin or otherwise) because if they invest with less than 3-6 months of an emergency fund, then chances become quite great that their investment is serving as their emergency fund (which is not a good practice and frequently leads to either losses or inabilities to realize gains and/or the power of compounding profits - through cashing out at a time that is not of their own choosing).
I completely agree with you submission, without emergency funds in place, investment in BItcoin or anything becomes very difficult. Just like you said, saving funds from signature campaign, without sorting out how to survive from other means, can be difficult and unsustainable. |
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How can a person invest in Bitcoin if they don't know about Bitcoin? Here's an investor needs to know about Bitcoin first.
You seem to be missing the point. Being aware of Bitcoin, which is usually the first step, does not mean you have sound knowledge. And having sound knowledge requires you at least own some Bitcoin. You cannot claim to have sound knowledge when you have not had the feeling of being invested in Bitcoin, the knowledge will be incomplete which is what the caption of this thread said. Let me use some tips on how to protect one's wallet as an example. Assuming you are a supposed expert in wallet security but you do not have some Bitcoin to test your knowledge, how do you know that your security features are actually effective? I think having Bitcoin is truly what makes the knowledge complete. |
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Hello, all! I'm presently on a quest to unveil the most influential figures in the cryptocurrency domain, and I would highly value your suggestions regarding a platform that employs distinct criteria for recognizing these prominent personalities.
You can find them in Twitter (X) and YouTube. Search both platforms and you will see those with large followers. On the other hand, you can use Google to get specific names and reduce the stress of search the previous platforms. I don't know what you need influencers for but if it is for information of what to do at this time regarding Bitcoin, I don't see the need because you will either get over excited to take irrational decision or discouraged by fud. |
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I have also noticed an increase in the participants of the Naija local board as can be seen in the sharp increase in post count of the board. I can actually attest to the fact that navigating through the local board can be challenging most times considering the way topics and discussions are arranged in the Nigerian local board. If we have sub-boards, it will really help in organising discussions and accessing information.
For a board that is less that a year, the growth noteworthy and should be supported as a way of pushing Bitcoin penetration and the spread of this amazing technology, of which Nigeira is playing a key role.
We appreciate the efforts of those who do make it time to check on the Naija local board and also support in many immeasurable ways. We do not take likely, the support of Hugeblack, EFS amongst others. Approval of a few merit sources will also help encourage quality posters to do more to keep the board going.
While we hope this request will be considered, it is important to note that we appreciate having a local board in a forum like this.
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