This is a serious issue and another indication that CEX might not be enjoying the popularity they once enjoyed among crypto users in the wake of increasing need for privacy. It could also be the reason mixers are flourishing which is in line with the reason for the creation of Bitcoin.

Bittrex is known for having one of the most rigorous KYC process, maybe people just got fed up with such herculean process when there are better alternatives. For instance, to complete KYC in Binance and Kucoin, a Nigeria just need his Bank Verification Number (BVN) and the KYC process will be completed in minutes. Unlike Bittrex where a valid ID and proof of address as well as funds are mandatory.

I just hope this does not have negative impact on the entire cryptocurrency market.

This na the oga kpata kpata of our yanis here this year. Anybody wey miss am don jones.  Another opportunity for people to make excess okobo be this o. Na people wey get ear go hear and ear wey no wan hear go collect regret scatter.

Make we settle down reason this matter fes:

Next year na halving
Next year them fit approve Bitcoin ETF
2025 na the bull cycle if Bitcoin follow status quo.

Unless say village people sit down untop person matter, you no need prophet to tell you say make you dey buy Bitcoin now. Besides, being a Nigerian na the biggest risk already, so wetin person go dey fear again!

Bitcoin for be a very good option for retirement savings as you talk, no doubt, but the government policy of compulsory pension contribution no go allow am happen because you go only fit access your retirement benefit after 60 years old when you don retire or 25% of the money when you no get work after four months.

Nigerian Pension Act do not allow workers access their money or choose where the money go dey when them still dey work. This na big error for the part of the policy makers because inflation dey kill the money. Wetin this mean be say the purchasing power of 10 million naira now will not be the same 40 years from now when person go don retire.

Assuming say they fit allow person access the funds or chose where to put the money, Bitcoin would have been the best option.

I couldn't control the laughter seeing the post. Well, its actually a way of adding fun to the forum amidst the high fees that is biting us so hard. To think some people actually take him serious is what surprises me a lot. You could see from the comments that some people are still struggling to realise that the post is from a joker who is probably learning how to scam people.

I have seen posts from different people with exactly this same format. They are petty scammers, and anyone who fall for this kind of armature scam really have a long way to go.

If they could think in this direction, it would have been a great idea considering the prospect of Bitcoin. It could have been one of the best investment decision they could have made that would have earned us so much returns. Unfortunately,  our government have not been much interested in making productive investment rather much of our income are spent on privolities like buying exotic cars and houses for elected/appointed government officials who are already rich and comfortable. Imagine the proposed president yacht of N5b, car for the wife of president at N1.5b and other unnecessary expenditures on things that does not generate revenue.

To further buttress the point that Nigerian government are not thinking investment, the took loan worth billions of dollars from China to build railway and roads and these project did not add a penny to our treasury neither is the railway functioning yet Nigeria is servicing these debts years and lavishing our scarce resources.

Only Nigeria will change tomorrow, but I don't think our government is thinking about investment and even if they are, Bitcoin might not come into the picture because it will not afford them the opportunity to looth.

Una still dey reason Nigerian politics? Well those of us wey attend the burial of democracy in Nigeria on February 2023 and the memorial burial at the supreme Court have given up on anything politics in Nigeria. Now wey them don kill democracy for Naija, the only thing wey remain na surprises and wonders wey dey beyond human imagination.  Check the matter wey court dey rule na, everything done scatter and so so miscarriage of justice everywhere.

Since we never ready to shut the country down, make we dey manage am dey go. For the sake of our health, abeg make comot mind for politics.... look for other ways to hustle and survive, government no dey for us.

I tend to agree more with your first paragraph because if you take a survey among gamblers, you will realise that many people got lured into gambler by winning they had or that of others. People follow results that is why you can easily convince a person to join gambling with evidence of your winning than stories of losses. It is actually stories of loses that discourages people from gambling.  I don't know how gambling is designed but many people easily win in their early days in gambling and that is how they got stocked in it.

If you bend left look this matter, e dey like good initiative but if you bend right look am, e get k-leg. First, wetin concern prepaid meter with NIN? Wetin be the benefit? Of you put NIN, it mean say you don put BVN and with that your bank account don connect. So this one fit be a way to charge people account directly especially people wey dey owe plenty money for their meters. Them fit no talk am openly but here na Naija, anything dey possible. So, I no dey comfortable with this their new development.

This one no supposed make topic here abi you wan cast yourself? You no dey signature campaign and you no explain how you take dey get the Bitcoin them, why are you making the post?

How people receive their payment depends on what their target is. Some people are saving their Bitcoin for the future and you don't expect them to use CEX wallet when you know that "not your keys, not your coins". Those that want to work and sell can use CEX and the decision should be entirely up to them.

When I watched to their presidential election debate, I noticed he has a lot of similarities with former president of the US. He was vocal about his plans and visions and seems determine to do just like he said. He challenged the financial systems and promised to embark on several reforms that will change the status quo including the central banking system.

But I see a little problem in all of them. Will he have the political will to challenge the powers that be? Argentina is not that of a strong country and they have a lot of unsettle businesses with IMF, can Javier Milei withstand the pressure from these powerful organisations?

As for the future of Bitcoin in Argentina, the new administration will most likely legalise Bitcoin just like El Salvador did but I don't think they will see the benefits immediately because they have a lot to address ranging from unemployment, inflation and poverty.

The right place for this topic is in speculation and there are several topics of this nature there with ongoing discussion and suggestion. One of such topic is this one that asked about bull market which if you lokk the other way is same as your post. So I will suggest you move this there. If you look the down part your will see how you can move the topic to speculation under economics.

Since we are promoting a mixer of Bitcoin, I feel its morally binding everything be done in Bitcoin. So I support the suggestion of @examplens that the fees be deducted from the participants. $0.5 to $1 is fine and enoght to cover the fees.

The problem of Nigeria have gone beyond who occupies the apex sit because the system is designed to fail. If you are asked the system of government that Nigeria is practicing, you will call federal system that is why Nigeria is call Federal Republic of Nigeria. Federal system of government requires that each of the component states are independent,  have their police, control their resources and pay certain percentage of revenue to the centre who handles immigration,  military and few others. Unfortunately, Nigeria is not practicing federalism in reality rather what Nigeria is practicing is unitary system of government where the power is concentrated at the centre with the state governors sitting as monuments without power. Every month the governors receive allocation from the federal which they use to pay salaries, execute one or two projects and looth the balance.

Nigeria is designed to fail because the system that will produced the all powerful president is marred with corruption and several demonic practices including international interference such that it becomes practically impossible for a clean person to enter there without being inundated with oaths and several devilish agreements.

The only way to change Nigeria is to abandon the 1999 constitution foisted on us by military junta,  then draft a new people oriented constitution that is progressive and easy to follow. A constitution that will strengthen our institutions and make the key ones like INEC and the judiciary truly independent of the executive president.

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.