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We have seen students that here foe investing in bitcoin some of them have invested big amount while some re just starting so it is not a new thing for us again. And from the way I am looking at it it is not wise enough for student to invest in bitcoin because they might not focus in their studies mostly in the year one of the school but if it is in the final year then it is good to start the investment because at that time you are almost done with the school. Those who really want to do well in their academic activities always focus on their studies and come out with flying colors.
But those who went there for money and not to study at the end became spammers and shit writers in the community so op focus on your study before you invest or look for money.
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I have not heard that telegram has a wallet on it own. Telegram is a scammers' den so nothing good can come out from them and mostly anything concerning money and cryptocurrency. If telegram has wallet then scammers will is use it to lure innocent telegram users to send them coins. Me I will not advise anyone to use that wallet. Op qaht I will want you to tell me or I will like to ask is that, the telegram Wallet is for which of the coin does it supporting?
There are lot of exchanges to use in the country even Binance and others are not working or using p2p in the country. It is high time we use decentralized exchanges to avoid unnecessary drama like Binance and others.
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This one na serious matter oh. Nigeria financial institutions are confused of where the problem is coming from so them dey accuse everyone wey they do well in the as their problem. Last three weeks federal government order the Nigerian Army to arrest black market dollar exchanging Aboki people. And chase out the remaining ones. And that made Peter Obi to come to the media to abuse the FG. And the harassment of those people will not provide any solution to the inflation in the country.  The government is saying that it is because Binance is not regulated by the government so anyone can just wake up and increase their prices of buying and selling of cryptocurrency and that made the dollar to rise so they are investigating the matter now. |
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Op anyone saying that Ethereum investment is more profitable than bitcoin is deceiving you and don't argue with such person because that person has no good idea in the cryptocurrency. Yes we all know that Ethereum is the second highest cryptocurrency in the ecosystem but the gap is too much. 1 ETH is $3,370 while 1 BTC is $60,761 so to which extend do you think Ethereum is more than BTC. And there is no way Ethereum investors will make more profit than bitcoin investors.
Assuming you invest into bitcoin when the price is $16k and the price rise to $100. And you can see the profit the person would make. Though you will make profit from Ethereum buy can't be compared to BTC.
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Generosity is from the mind and when the mind is free then you give to people and when people are free with you, you give them without them asking for it. Though it is not all gamblers that have that free mindset to give. Greediness and stinginess are some of the factors that making people not to give others. Those who are not selfish give others and they generous. I am a very good example of generosity. But there are some people in the gambling arena that if you give them even big amount they are not satisfied. And that make some generous gamblers to be stingy with their money.
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Nigeria Detains Two Binance Executives, Crypto Platform Accused of Exchange Rate Manipulation They didn't only detain but also ceased their passports and other doc that would prevent them leaving the country. This matter is getting tougher as the days proceeds and it's important as a Nigerian at this time being if you have any coins or USDT stack in your binance account you without hesitation move it to your non-custodial wallet which has always been the best place to safe keep your asset. Binance suspended trading our Naira following the arrest. Our government blames them for manipulating the value of our naira, so I think they need to sort out the problem first before they continue any form of trading. I understand that our government is trying to regulate the cost of things but I think there are better ways to do this than moving rampage on BDC operators and now focusing on exchanges. Really to some extent those people that buying coin in the first page in Binance are scammers because the price range they put their na for formality and not real. Example. If a buy place 2.500,000 to 50,000,000 it is a lie they are not buying like that they just use that one to deceive people and when you place your order dem go even call you on phone and tell you to reduce the price for them to buy and they use that price tag as bait to attract sellers. And Binance is not aware of that manipulation of price and nigeria government knows that manipulation because I heard them saying it in NTA one day. |
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I am on the campaign that dollar is going to crash drastically because the federal government is about to take a step to reduce cost of living and to reduce dollar is on the target and once dollar is decreased then it will affect all the bitcoiners in the forum so what I am about to say is that if you know you have coin in your wallet make sell some now because if you no sell am and dollar reduce in value na you lose. So make you think well and take a good step to calculate the next step to take. Dollar is about to go down.
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Though I might be wrong on this but I think the main or the core reason of creating bitcoin was to use it to trade p2p which is to buy goods and services online but that part or function of bitcoin creation is not working perfectly yet and I don't know if it will work in the nearest future. Because everyone one is going into the investment aspect of it and not the goods and services function. As for me the most interesting part of bitcoin is the part you can use it to buy something like Laszlo Hanyecz who used bitcoin to buy Pizza.
I like to do that but no store in my area is accepting bitcoin in fact they don't even know the name. And those who use exchange to buy bitcoin because it is the fastest way to acquire bitcoin.
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The government is saying that people would not be removed from their various office or parastatals but me I know that staff will be removed and this oronsaye report and implementation will affect many people in the country. Many people will be removed from work. And they are blaming Goodluck of creating that ministry to employ people and if you look well you will discover that it it the northern people are more in that ministry.
All these things they are doing my own be shey let them reduce price of goods and services so the ordinary people in the society can also buy something to chop with the small wey dem get from the labour dem go do.
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Make una no panic yet, there is way forward if you have your coins in Binance, you go fit still sell am. Make una no fear. You can go to trading in Binance and sell them of from there or you can move them to decentralized exchange platforms to sell them. And for di question Frankolala ask, no be only Binance, even remitano, roggu, and all others wey dey operate in the country. So the best way now, na to transfer all our coins to non custodial wallets as broda Charles-Tim said it earlier.
And another thing I am trying to notice now, if you get coin make you sell all because the revolution to reduce dollar exchange rate is very High and once dollar is devalued well well in the country e go affect us well well so make everyone use this opportunity to sell bitcoin now. I know shey the all time high e dey come but if dollar e dey low even do all time high e no go reach the amount you go sell now. Use you wisdom.
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Op you said it rightly correct. Consistency, patient and perseverance are the factors to stay long in the forum. Though if you are doing well and contributing to knowledge, there will be no attacks or issues but whereby you lie or trying to play a smart game here and then the system find out from you then you will blame yourself. The forum is meant to learn bitcoin and it wallets. And there are two things according to people one must do here and the first thing to do is to learn bitcoin and anything around it and when you have learned, you also pass out the knowledge acquired to other people.
When I was a newbie I was also thinking from this angle but as I rank up the mentality was removed but to say the truth, having the thick skin and move on.
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E no matter weda Dem no dey well know oo, our people say small fire fit burn down full forest. As them start na there the problem sef fit take start.
Na the same thing now e don go happen for Binance too. And that means the Op was right. And the way I see this matter eh. This exchanges dey walka hand in hand because as one stopped di naira peer to peer, other follow up though it is the government policy they all following. And now to sell bitcoin will be a big problem in the country because all the Centralized Exchanges will be disabling naira p2p so people will thinking alternative means to market their assets. |
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You see though the rate of dollar dun still come down, but things for we country nor still free come down forus. Because I remember say if you go market dem go they tell you say so, so product dun add price over night way dollar dun rise we way they the field of earning in dollars understand say, yh dollar dun really increase. But now dollar price dun calm down small now cost of things still dey as e dey.
You get point there my brother. The government na only one way traffic. As them don succeed with their temporal measure to put fear on the BDC people , dem no fit use that way deal with business people wey still dey sell their market at exorbitant rate. Them dey sell old stock with dollar rate at 1,850 and as price don drop, trust Nigerians not to revert back to status quo. Well me I no see this exchange rate dropping as we dey think because nothing structural going on in the economy if not palliative. Ban dollar cash transactions to save naira, operator tells Tinubuhttps://www.google.com/amp/s/punchng.com/ban-dollar-cash-transactions-to-save-naira-operator-tells-tinubu/%3fampWe see this headline today.... Na the point be that because how will this be possible to ban dollar cash transactions wey be say the country depends on importation. This na the reality of the economy and the reason wey make exchange rate dey high because business people has to import and so they must have to change Naira to dollar even at high rate. Na demand and supply dey push the exchange rate simple. Make government stop to dey chase shadow and begin build structures wey go help bring back companies wey don run comot naija. Omen as e be like this everything just dey zicjack in the country. How dollar go come down massively and the food prices still dey go up. How dem take do am. Abi di market people never dey aware of the crash of the dollar. But 1500 e still dey high oh. And if dem reduce price of things, na small go reduce. Mostly let dem reduce food items and cement. But I believed say before this week go run out things go come down small. But make you know say as dollar dey come down him go affect di investors in bitcoin because di buyer go still look buy the coins as the price of dollar at the present rate. Yesterday NLC told the government dat if things no come down for within 14 days then they will shut down everywhere in the country. And president promised to stabilized the economy. |
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The price of bitcoin hit $62+k today and as of posting the comment it $59+k though it has not shown red yet and tht means it will still go up again. If the market is going up like this till the month end, it might hit $70k and that should the beginning of the all time high for all the in the cryptocurrency market. And crash of dollar affect the investors of bitcoin in the country because definitely the amount would come down and if someone has 0.06036 bitcoin equals to #5.5 millions before when the price of dollar was #1800 and now DT the price of dollar is #1500, the 5m will reduce very well.
Now the BTC/NGN is not like before again but even the price of dollar is coming down, things that is goods are not coming down again that is the worry now.
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Op this a wrong plan of an investment. Where were you when the price was low and it is when the market enter the Bull run that you are advising people to buy. Even if you buy early this year it would have been better of. This is deadline rush. You want to buy bitcoin at the deadline to make profit. Well it is not too late if you invest with a reasonable amount. Op you don't have to invest in bitcoin with the Fear Of Missing Out (FOMO). You can invest at all time but it is better you invest when the price is in the dip. And that was why people create threads on "Buy the dip and hodle". Now you are on the opposite side of the slogan. But the Bull and Hodle, Loz. Enjoy your journey.
Above $100k is a prediction which everyone is hoping for but it is not yet actualize. And it is only the All Time High will conclude all these predictions to the end.
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I been dey try to sell bitcoin in Binance just now and I see say di naira side e no dey work and I come tried USD di thing work and I come still try naira again na di same thing.  Once you click naira everything on the screen go blank and when you click another currency then everything go come back.  If you dey use Binance dey receive payment make una go change am now and move all the coin you get in Binance to another exchange before the story change. |
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When choosing a cryptocurrency platform, do you prioritize seeking out those with lower transaction fees, or do other factors such as security, user interface, or available features take precedence in your decision-making? Share your perspective below and let's discuss the key considerations within our community!
Low transaction fee is also one of the priority but the major one I always consider is the price rate and not the transaction fee. There are some exchanges that buy someone bitcoin with very low rate and while so.e are very high rate. Because what humans need in exchange is the one with the highest price and not with lowest price in selling. Low transaction fee is one of the factors as I Said. But people use highest pay exchange and the lower ones. But if you follow profit in the stable coins line, be prepared to be bankruptcy though it is not a prayer but it is likely happens there. |
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Many would say they are here to learn but learning about bitcoin is very far from them but interior motive behind the scene. And I believe you are not like those guys. And if you are really here to know more about bitcoin then you have to refrain from creating threads now and focus on reading and learn from there then anything you don't understand you can ask questions by creating thread or you can ask the question from the thread you read the question.
Make research and read materials from the internet like Google, and any other search engine.
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In mathematics everyone calculate the sum from different angle and arrive at the same result and that is what is happening here like this. And from the overviews of all the comments so far though the comments re few. Charles -Tim calculation is the best. And to the op to calculate this or your profit in the bitcoin investment is one of the simplest mathematics. This is simple interest.
As Charles -Tim dis his.
Buy + Sell = Profit.
1000÷58000x120,000=2,068.965.
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Opay you are correct. When the government can't do anything to stop the devaluation of the naira which was caused by their own obnoxious policies they will look for someone to blame and Binance which is an innocent exchange platform in the country was blamed on someone which they don't know about. And the accusation was not only on cryptocurrency exchanges but also extended to Black Market Currency Exchangers like Aboki Dollar Changers were also accused and chased out from their residence of operations and some of them were even arrested.
The government know why the naira was devalued and they know those who are involved but they are trying to blame others and that is the government in capitalist interest. President Tinubu call all the business owners in the country and such as Dangote and others because of the Economic hardship yet nothing come out from the meeting. We k ow those who are making things difficult for the common man to buy. They can only blame exchanges but the truth will come out one day.
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