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E really dey important for these our governments and their official, both those wey them employ fully and those wey dey work with them per time to know say crypto currency (Bitcoin) done really help this our country well well, because many Nigerians done use this crypto currency tin take achieve many things for life (house, cars and some important things). Some persons for this country nah crypto trader, some nah marchant for exchanges, and some nah crypto investors. No matter any coin wey dey inside the crypto space all of them dey very important because if 1 no work out well for John, e go workout well for James. This our governments suppose to get this one straight, if to say Bitcoin dey centralize, watin dey happen for most exchanges for still dey happen to Bitcoin because as many pipo dey use am, the government go condition everybody say them go start to dey pay tax for every profits wey person make from crypto (this our governments funny sha). IMO, the inflation go continue to dey increase if better government no take over, and for us to see better person wey go fit do well like the ones wey been manage better as of then, then the country go better small. But make we no also doubt am say the naija done almost spoil finish sha. You supposed know by now say our government no really carry our betterment for mind as them dey claim, you never notice say anything wey citizens dey put hand wey dey work out for them, they bring them money, and e reach government ear, instead of to support the thing make e for help even more people to alleviate poverty for the country, them go start to investigate the thing, dey find one way or the other to carry accuse or do things wey go make am crash. The reason government and CBN dey really dey attack bitcoin and crypto at large no be say na for our own interest, if you look their approach alone, you go observe say na their own personal selfish interest. Just take for instance as government dey ask binance to release the list of Nigerians wey dey trade via binance, wetin you feel say them wan use the list do if no be to use am attack them? If no be to pour sand sand for their garri? The government already know say, if all the citizens gain financial freedom, e go hard before them go fit control us again, because na money be right, when you get money you go know your right, so the more poor person dey, the more easier e dey for them to fit put the person for pocket, government and politicians them dey wicked and devilish, that's why when good thing dey reach us like this, them don fyn ways to spoil am, if not, wetin exactly crypto do them, wey them wan spoil am? Wey be say if them even embrace am, the thing fit even helps to solve plenty problems we get for. We country today. |
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Just a simple setting up your web browser to delete all browsing history each time you close it will make a huge difference.
To my greatest surprise, I found the "My Google Activity" button and clicked on it, I saw that even with my browser history being cleared there are over 8,700 past activities stored in the Google activity. Which means that no matter how much you clear your browser history you will still find it hard to see that it's clean. The reason why Google Chrome made availability for the incognito 🥸 Mode is for users who are quite considerate about the privacy and anonymity of their browser history, to avoid having Google save your current activities on the browser, then using thr incognito mode is so people like you, well of course you generally have a problem with google. |
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Arms (triceps and biceps)
This is actually the area I focus the most, there's been an amazing improvement on my biceps, as well as my pectorals and i couldn't be any happier about it. Focusing mainly on one muscle group when working out which is also know as isolation exercise may not really be good for it may not give you the required balance, sometimes it make us look shapeless and unbalanced on the ground. You must missed the part I said THE MOST I never said I neglect other areas or muscle groups that needs working on, I only said I focus more on my chest and biceps because those are the areas I feel needs more work than others, and those are also the areas that the push ups focuses more on. I also engage on other home workout activities that focuses on building other areas of my body, like my legs, abs and other areas. |
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Arms (triceps and biceps)
This is actually the area I focus the most, there's been an amazing improvement on my biceps, as well as my pectorals and i couldn't be any happier about it. I've been quite reluctant about hitting the gym due to my busy schedule, so I haven't had the opportunity to work on my biceps and pectorals which are very important to me, but this challenge has actually helped me to achieve that without even leaving my home and that's really cool. Doing these push ups has now become part of my daily routine and I even added them to my schedule just so I won't have to miss any session. To make the whole thing a lot more interesting, I took a picture of my biceps and pectorals when I started the challenge, and I'll also take another picture of em after the challenge so everyone could see just how much this challenge has helped in developing them. Asides supporting bitcoin to hit 100k, this is actually another thing I've benefited from this challenge. |
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You can't read about push ups. You gotta do them.
By Gary Vaynerchuk
reading about em is working out just fine for me. But reading about 'em ALONE ain't gon do much work on your muscles, joints and biceps if you ask me... Well not until you start working on what you've been reading about of course... And then again, doing PUs without reading about 'em, to at least know the right way to do 'em ain't gon do pretty much either  They both pretty much work hand in hand to produce a cool result. |
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Inasmuch as adults are considered old enough to make decisions that concerns them and shouldn't be queried for them, as long as these decisions does not infringe on others' right and safety in any way. So I guess some would say because of this, that it's their business and others shouldn't be meddling but look at this this way, the same westerners that are canvassing about human right and how people have the right to make decisions that affect them and them alone without having to interfere are the same people that says people are not permitted to take their own lives.
A person taking his own life is a decision that affects only person in question and doesn't in anyway concern the next person but they claim the law frowns against it, so now what's the difference between a person choosing to take his own life and a person choosing his own sexuality? Doesn't bother decisions concern the individual alone?
The purpose of the law is to maintain order in various jurisdictions, now is it not the natural order of things that a man should copulate with a woman? So where exactly did the idea of men copulating with men and women with women come from? Does it not go against the natural order of things?
Let's call a spade a spade, people know how to bend the law to suit their personal interest and if they're able to back it up with facts, they're considered to be laws, but we all know that even facts sometimes can be wrong when critically analysed.
The truth remains that Homosexuality is wrong, both to nature and God, when I say God, I'm not referring to a particular religion, check majority of the religions, you'll see it's a taboo.
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I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it. Sometimes e make sense to have short term plans while you still get long term plans because some long term plans dey feel Impossible to achieve but if you get other small small targets e fit make you achieve your goals quickly and you no go even feel am say na that impossible goals wey you been dey see so na wetin you dun achieve already. Na true talk you talk, e go even better say as a starter you start with short term investment so you go confirm am well say true true this thing good and en go even better say person hodl for long. When you done confirm am with short term investment when you enter long term nothing person fit tell you way go make you pull out because you done see the good result before through the short term investment you been do. Wetin you talk nah true, but while you set those short-term goals inside your long-term investment, you go try dey focused make your attention no go shift from the main goal wey be long-term because of the petty profits wey fit come from the short-term goals wey you don achieve, cos sometimes all these investments dey Sabi play tricks on person and you fit easily lose focus before you even know. Let's say you plan to HODL BTC for the long-term ( maybe 5 to 7 years na e be the initial plan) and then along the line after a year or two, you come dey see the small small profits wey dey enter there, then you decide to shorten the goal by taking small profit while still determined to HODL for the long-term. But all of a sudden when you don start to dey collect those small small profits, you come dey feel like say you don arrive and say na there the main thing dey, small small your attention go dey divert from the main goal and then you go start to pull out any small profit wey enter on top. This thing don happen to so many investors wey enter bitcoin investment with long-term goals, due to this main reason them don fall by the roadside, forgetting say that thing wey dey sweet well well, dey also bitter too, because when some kind DIP go hit the market, DIPs wey your long-term goals supposed shield you from, fear go come enter your body then make you go take decisions wey go fit affect your investment and possibly incur even more losses wey go pass the small small profits wey you take initially. Dem say make you no do pass yourself, make you no go invest inside Bitcoin with important money that'll be needed urgently. Na only spare money go well or money wey be say we dun keep aside say na for investment na wetin we suppose to dey use and the percentage from your salary no supposed too much. The thing be say Bitcoin investment no be cashflow investment unless na trading wey you dey do for here or other various means of receiving cashflow for the industry. If na strictly investment wey you dey do then you need to plan yourself well so you go always dey get urgently 2k dem wey go dey bail you out of problem because dem go always dey around as for you dey alive.
This na why the DCA strategy dey always dey come in handy for situations like this, because e just be like say you dey comot small money from your salary dey throw for saving box, saving box wey you no plan to break anytime soon, and by that time you go don get other mediums wey go dey sustain you, just incase the need for urgent 2k come, you go fit chest ambulance without even thinking about the investment wey you get. Make we say for instance, person wey dey earn like 50k every month, as month finish and you collect your salary, you don drop like 10k for your investment knowing fully well say the remaining 40k go fit carry you till month finish again, na this one we dey call DCA. To even make the whole matter easier for you, inside the 40k self wey remain, you fit dey keep like 10k for your emergency fund, then use 30k take guide till next salary show, you go see am say if emergency lap, instead of to run go meet your investment to collect money there, you get another alternative, wey be your emergency fund, the thimg go come make your investment safe and go dey steadily dey grow for you, and any awoof money wey enter your hand too, you fit split am, put some for investment and some for emergency fund. E dey very important to take emergency fund seriously o, because na the only thing wey fit pose threat to person investment, so yes, emergency fund dey just as important as person investment because without am, the investment self fit no stand. |
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My concern is just that a lot of Nigerians may get scammed and defrauded because moving to other exchanges that are not reputable can lead to loss of funds and assets and there is no one to hold accountable, this is really a bad news for me because ever since they banned binance from performing the Naira p2p transactions i moved to kucoin and now that kucoin have been affected as well were do i move to again? Provided say na centralized exchange wey we dey use, we no get choice as the governments go dey attack dem as dem get to know about them. Governments dem get spy among us wey dey update them on the next exchange wey people dey use dey sell their Bitcoin or usdt to Naira. Scammers go chop Nigerians plenty this periods because alot of newbie wey no understand how some platform dey work go fall victim to scams. E go just better to use local P2P merchants if you get a trusted one than to dey move from one centralized exchange to another because this exchanges fit crash too and them go close with our money Na how to get trusted local P2P merchant for naija but how person wan take confirm their authenticity, we know of plenty P2P platforms wey been don really make waves for naija as one of the best platforms but today, them no dey again. Like you talk, even some people wey get these platforms go fit see this as opportunity to take scam some naive people them, since them now know say them no get option and when them see some kyn money wey go enter their system, them go just shut am down or release important information to person wey go enable am to hack the system make e no be say the fault from them so that nobody go accuse them. Na these kyn things we dey see everyday and because of that, even when we see legit ones, we go dey fear to work with them. The best thing na just fyn better DEX wey dey reputable and dey support P2P, at least person go know say government no fit get access to them or influence them easily like that. Or better still, find trusted person wey dey outside Naija, even if na the least African country, wey go dey help you dey trade ya coins dey send the money for you via bank transfers. At least that one go dey even better and safer than to dey use these CEXs or P2P platforms. Until this whole government palaba subside, cos I know say very soon, this whole gra gra go end. |
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How we go just de like that nah? Bitcoin na one of the most valued project for the market. This one na pure imagination because e no go happen and the day e happen, e mean say nothing like digital currency go ever make sense. Bitcoin na top project and we go de fight daily for the progressive means to stay protected for our portfolio. Bitcoin for note? The value no go reach where e de today. Remember our fiat currency de for notes and e no go funny at all when bitcoin join, the race and competition wey we de watch today no go even dey again.
Person way go want make Bitcoin Dey in notes na person way no understand nothing about Bitcoin. No be everything suppose get physical nature or representation. Fiat paper money way we Dey spend like this, na central banks Dey print am and that mean say, na central banks get am and Dey regulate am and the central bank then cef, e belong with and to the government. So if Bitcoin con Dey in papper, watin you think say go happen to it’s decentralized feature, watin go become of its supply, how the currency wan be, Omo, na to spoil everything be that o. This no ever fit happen and we no need am for sure. Lol, na wetin just dey my mind as U see the topic. Bitcoin no dey in anyway related to the normal paper fiat currency we get, the features self no dey the same, except for the fact say two of them na currency and them fit serve as legal tender, asides that, you no fit compared the two because the kind level wey bitcoin dey operate dey wayyyyyy higherrrrr than fiat and that's because the supply dey scarce, unlike fiat currency way person fit just enter machine start to dey print fiat, and e go fit decide how much e fit print. Bitcoin on the other hand, nobody dey create am, instead new bitcoins dey come into existence when miners use specialized computers to solve complex mathematical problems, when a miner successfully solve one problem tge network go automatically reward am with new bitcoins, na so new bitcoins dey carry dey created, no be human being go just sidan one place dey create am, if not, bitcoin go too plenty and e go eventually lose en value, as we dry enjoy am like this, e no fit dey like that again. So the question nah, if them come decide to put Bitcoin in a printed form. 1. WHO GO DEY PRINT AM?Na who go dey print am and how them wan carry dey print? Abi na miners or na individuals fit dey print their bitcoin by themselves, so many questions. If you say make them provide debit card wey person fit link with e wallet, e dey somehow better but to print am in paper form, e go involve plenty things. 2. WETIN GO BE THE STORAGE METHOD?Normally we feel very safe and better when our bitcoin just dey inside our wallet and if we no tell person say we get Bitcoin inside such wallet, no how them wan take know, now if them come print am for paper form, how you wan take store am? Abi you go carry am go deposit for bank? Or you give keep am for saving box, or under your bed. E no just make sense, even the normal fiat self, you no fit keep plenty cash for house wey your mind no go dey fly, talk more often bitcoin. |
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Not everyone can afford to invest in BTC, due to lack of capital
There is an important distinction related to the point that you seem to be wanting to make, which seems to be that you are missing some nuance in regards to what makes a person able or unable to invest. There is some correctness that if a person lacks capital, then he may well not be able to invest into bitcoin or anything else, yet the more important point would be that a person's ability to invest in bitcoin or anything else relates to the extent to which he has discretionary income. So in that sense there is no requirement that anyone has any capital at all in order to invest into bitcoin, and so the main requirement is that a person has discretionary income - and sure, a person who has a lot of capital may well be able to invest into bitcoin by moving his capital from certain kinds of assets into bitcoin, so there could be exceptions to any proclamation - even though we already know that it is not required to have any capital to invest into bitcoin so long as you have discretionary, even though having capital could be another way to establish an investment into bitcoin. but at least if you want and want to why not, and I agree with what you said about the DCA method which is intended for these people.
So are you admitting that there is no need for capital to invest into bitcoin? But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage.
With something like bitcoin, many times it is better to get started as soon as possible, especially once you have figured out that you have discretionary income. Now you might have a lot of messiness in your cashflows and your psychology, so you may well need to get some of those things in order, yet I would not presume that it mis necessary to get your finances and psychology in order prior to getting started in your investment into bitcoin, unless your situation happens to be so bad that you are not even able to figure out with any level of confidence whether you actually have discretionary income or not. Even though a large number of people might have a lot of complications in their finances and perhaps even lacking in their abilities to manage their finances very well. Most likely an overwhelming number of folks should be able to tell you wether they have $100 per week or maybe $10 per week that they would be able to spare or throw away (meaning that it is extra and not needed to cover their expenses). When folks have really small amounts of extra income and a lot of disorganization in their finances, it is likely more important that they start out more slowly and that they also spend time getting their shit figured out, but that still may well not justify waiting rather than getting started right away with some small amount of discretionary income that can be figured out. If there is no way to establish the existence of discretionary income, then those people need to make sure that they have discretionary income before they can start to invest into bitcoin. Because if they try to invest even if it's only a little bit of what they can afford, wouldn't it hamper their finances more
Yes... if they have figured out that they actually do not have discretionary, then the should not be investing into bitcoin, because if they were to do that they would be gambling rather than investing. They need to be able to put the money into bitcoin and have a certain level of confidence that they are not going to need such money for 4-10 years or longer and also understand the risk that the amount that they put in could go to zero (meaning they could lose up to 100% of the amount that they put into bitcoin, so they have to be ready, willing and able to accept that possibility, and if they are not able to do that, then their finances and psychology is not ready to invest into bitcoin). , and would it be more risky for their own lives, because investing is not far from the risks they will face. Isn't it better to be slow but sure to minimize something that is not wanted?
No it is not better to be slow. It is better to figure your shit out, and either you have disposable income or not. If you have disposable income, then it is better to get started investing into bitcoin as soon as possible and figure out some kind of a system. Otherwise, if you figured out that you either do not have disposable income, then you should realize that you are not able to invest into bitcoin until you are sure that you have disposable income and then you can ONLY invest into bitcoin up to 100% of the amount of your disposable income, but if you are not sure if you have disposable income then you cannot invest into bitcoin. I would not call that waiting, but instead you either have disposable income or you do not, and if you do not have it you cannot (or should not) be investing into bitcoin, and if you are not sure if you have disposable income or not, then you are likely in the same situation of not having it.. because you need to be clear that you actually have disposable income in order to invest into bitcoin, otherwise you are gambling and not investing. It is very clear that one's inability to invest in bitcoin or whatever it is that is prioritized is capital. Because there are constraints with one's inability to invest. The inability is based on his job. Very different from people who are capable because basically people who are capable because there is the ability and there are no obstacles to investing. it is very clear what you say the main requirement is additional income, but if in the position of someone who works only in one job with a salary below the minimum wage. And there is no additional income, will it be very inhibiting to start as soon as possible and not collect money first. For some people there may be those who invest without capital, but for others or most people the main requirement is capital, on the contrary I have not found people who invest without capital, in my opinion, I do not agree with the absence of capital, because the slightest thing, the will or desire of a person can be said to be capital, to be confident. If a person is only focused on one job, and there is no additional income or perhaps additional income each country is different. If for example there is additional income and each country is different from the additional income, is it possible to start as soon as possible, it will be very risky, and in my opinion if we start investing in BTC by starting 1 year or maybe 3 years to come, I think it's a good decision too, because seeing from the first BTC came out and until now it is still stable. Collecting money at first as you mentioned will only ruin your investment cause at that early stage of investment you should not bother about profit for needs or making quick money rather you should build your investment gradually even if it takes time not minding the time duration. Bitcoin investment gives room for long term planning so an investor who find it difficult can still plan and invest. Just a quick question, how sure can you tell if bitcoin price will remain in a stable range for the next 2 or 3 years, honestly speaking the best time to buy bitcoin is now so you should take the opportunity and invest. The mistake most people get when it comes to capital and investment mostly bitcoin investment is just simple, it’s never a must to start with huge amount at first or generally, you just need to start with what you have at the moment and gradually you’ll make progress as time goes on. When it's come to Bitcoin investment, it's always essential to prioritize gradual investment, as well as long-term planning, rather than just the short-term gain, because you could be eating up your seedlings, rather than nurturing and watering them for them to grow and yield the actual fruit. Due to the Bitcoin's price volatility, it's almost impossible for investors to predict its stability over a specific period like 2 to e years, and that's why the best approach is always to consider it for its long-term potentials. Just as you've said, there's no best time to buy bitcoin other than now, trying to time the market could land one into even deeper shit as one can't accurately predict what turn the market would take and when it'll take it. It's best to start investing whatever that's at your disposal, of course after making provision for emergency funds, just incase unforeseen circumstances arise in the future. It doesn't matter how small, as long as it's consistent and frequent, you'll be able to build up a strong portfolio for yourself. You can start small and gradually increase your investment, in my own opinion, I think that's even a more sustainable and less risky way to accumulate bitcoin rather than waiting till the fund is huge and then lump-summing. |
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This is why it is not good to be waiting and piling up your funds in fiat when you already have an additional income which you can use to invest in bitcoin without a problem and hodli for long. It is never risky because you started earlier than waiting, and you are on a long term bitcoin journey using DCA strategy which will reduce the risk in bitcoin investment due to its volatile nature. You should also note that the price that you are buying today, might not be the price you will next next year because bitcoin price increases overtime, and this is why the investors who bought early are in great profit. The cheaper the price the easier for you to accumulate more bitcoin, and the higher the price of bitcoin the harder it becomes to accumulate more bitcoin. Don't wait in poverty instead of fighting your way out of poverty with investing in bitcoin immediately you have the money
Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down. You make quite a notable point. Stalking and piling up fiat before buying bitcoin is indeed a flawed approach to bitcoin investment, the price of bitcoin can be really volatile and pretty difficult to predict, so before you even manage to gather enough funds, the price might have become higher than it was, making it even more expensive for one to buy. Rather waiting till you feel you've stacked up enough fund before buying, a more suitable and effective approach would be the DCA strategy, by adopting a strategy of buying on a regular basis, regardless how small, then maybe you could increase the amount of your buys overtime and you'll see that you'll be able to accumulate even more bitcoin in the long run than someone who's waiting to buy at once. The DCA technique doesn't only help to accumulate more bitcoin, it's also a good way to reduce the impact of the market's volatility. |
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I wish to have a good posts so I can apply with them.
ABRACADABRA 🪄 If it were only all about wishing Indeed, if wishes were horses, even beggars would ride, they could even end up becoming the best riders. Mate I'm pretty sure if you're equipped with the necessary knowledge about Bitcoin and the forum, then you wouldn't have to wish for it. |
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My question is, between Bitcoin-er and Bitcoin-ist, which one sound better?
I think it depends on the context and the user. Bitcoin-er like you said is the most commonly used by people when trying to depict someone who invests in bitcoin or an enthusiast, so I b lie e majority would prefer using Bitcoin-er. Bitcoin-ist on the other hand, I believe sounds a lot more professional, although not commonly used but way more cooler and professional. Another question is, what can we call the study of Bitcoin?  The suffix "ology" is mostly used when denoting a field of study, I believe the term "Bitcoin-ology" could be used in state the study of Bitcoin. Although it doesn't sound as cool as bitcoin-ist and bitcoin-er but I think it'll do just fine. |
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✂️
I think that a lot of people like to consider DCA as a fixed dollar amount, and there is nothing wrong with that, especially since there can be a lot of conveniences in terms fo having a fixed dollar amount, whether weekly or some other period of time... set it and forget it kinds of ideas... though I also do not like automated DCA, even though sometimes automated could be way more convenient for people so they do not have to remember to do it, and they may well be busy at certain periods and forget to do their DCA manually. Indeed the automated DCA do actually seem like an amazing approach as it simplified the whole DCA process and make it a lot more convenient, especially for those who often have a busy schedule and could forget to buy sometimes, but I still understand your reservations about the automated DCA, because despite the convenience it offers, it can prevent one from staying engaged and informed about your investment, which is really essential for the investment as need may arise to make certain adjustments. Manual DCA on the other hand helps one to give the required time and attention to their investment and help them stay more connected and also make the necessary adjustments where and when required. Although this isn't always the case, because even with the employment of the automated DCA, one could still find to to regularly visit his investments and still make all the necessary changes and adjustments when needed as automated DCA can only kick in when the investor is super engaged with other activities, too engaged that he either forgets or is deprived of the time to DCA for that week or month. I don't have any problem with the idea that some folks earn very low amounts, such as $100 per month or maybe even lower, yet I have some difficulties imagining scenarios in which persons at those same levels would be ready, willing and able to invest 80% or whatever into bitcoin.. That hardly makes any sense absent some further explanation, as I suggested some explanations in which a person could have some ways of getting food through farming or services or otherwise having various expenses paid for in terms of lodging - but at the same time, even if some folks might have some really strange circumstances, those do not make very good examples, unless we explain the circumstances, and another thing that I already mentioned several times is that a lot of people (whether poor or not) have really difficult times even investing and/or saving 10% or more of their income, so when we are coming up with examples that are presuming sustainable abilities to invest even greater than 30%, then I am going to question those circumstances, including questioning if they are either sustainable, long term or maybe just trying to play the wave by gambling and using money that you cannot afford to set aside for 4-10 years or longer, which are the kinds of longer term strategies that we are aiming to discuss in a thread like this... . . I'm also having a hard time trying to imagine someone who earns $100 investing over $80 or more in bitcoin, I mean what's he going to do with the remaining $20 or less, how's that going to cover other expenses, but well except of course the person have already stashed up more than enough money for emergencies as well as his reserve/float. (Especially his reserve) Because that's the only way $20 dollars should be enough to cover for other expenses until his next paycheck. But sometimes, regardless of how huge a person's reserve funds are, investing 80% of one's income could still be considered to be quite an aggressive wsy to accumulate bitcoin, especially for someone earning such a low amount of money. Just as you stated, a lot of people struggle to save up to 10% of their income, regardless of their income level, so investing 80% and having 20 left could be pretty much challenging for such a person to be able to allocate it appropriately. |
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How you go compare the fluctuation of the price of bitcoin to price of goods in Nigeria. Price of goods for Nigeria no dey go opposite direction like I see you mistakenly understand it thar way No, the price of goods for naija dey always face up while bitcoin dey move up and down.
I no know about other areas but for my area, price of noodle don come down small. I dey like eat noodle but no be too much so I no dey buy am for carton, I prefer to buy am small small, and as of last month, the smallest size of MIMEE noodles been dey around 250 per noodle, but the thing don actually drop now to 150 so at least something don actually drop price. Even garri self, e dey go up dey come down, although na so garri dey normally behave, even before now, e get seasons wey garri price go shoot up ehh, then later e go come down, na that one I know say e dey behave like bitcoin well well. For my area, as of last month too, garri been reach like 3000 per custard, sometime this month, e come drop to 2500, Omo I hear say now e Dom enter 3500 again o. |
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Maybe along that same line of the initial considerations, there can be a status of poorness in which someone might be having difficulties figuring out how much discretionary income that he has in order to invest into bitcoin in the first place, so he might want to make sure that he gets through the whole month before buying bitcoin with whatever is extra at the end of the period (so then his new paycheck comes in and he buys bitcoin with whatever was left from the earlier check), but at the same time, if the guy is getting into bitcoin, then it might be more likely that he would also need to figure out his cashflows and his expenses, so even if he might have more difficulties in regards to figuring out his discretionary income levels in the first month or two, he might be able to put systems into place in which he is able to buy every week, even if he gets paid monthly, but he might have to makes sure that he builds up enough of a reserve (and emergency fund) while he is potentially becoming more regular with his BTC buys the might end up being every week.. but yeah, if he is not sure about his cashflows, the solution might be to spread out his buys over longer periods.. yet I tend to be a pretty BIG fan of attempting to get yourself into a situation where you are able to buy bitcoin every week, but yeah, you cannot employ those kinds of practices if you are not even sure if whatever money you have is going to get you through the month (or until your next paycheck)..
Those quite some good notable points. For those individuals who are struggling to make ends meet or living paycheck to paycheck, determining their how much they can actually afford to spare for accumulating Bitcoin can be pretty challenging. Their major priority should be centered on how how to cover some essential expenses, how to build a strong emergency fund and reserves, strive to first gain financial stability before considering investing in bitcoin. This is a reality that shouldn't be overlooked or bypassed because by acknowledging this important aspect of investment, individuals can have a solid foundation for their financial future as well as their investment. Because without first creating a solid financial foundation, one can never have a solid investment. The idea of buying over longer periods of time or coming up with a system to buy smaller units of Bitcoin regularly (daily or weekly) could be quite an effective approach because it can really come in handy for individuals who actually have limited financial flexibility, because it'll enable them to maintain consistency in their buys while simultaneously maintaining their financial stability. There are important factors that shouldn't be overlooked or bypassed before jumping into investment, because those factors are the very ones that determines how solid your investment can be and how long it'll last and of course how profitable it'll be, factors like cash flow and having a financial solid foundation to cover for future and subsequent expenses and emergencies plays very important roles and should always be put into consideration before jumping into any investment, well except you don't plan to be in that investment for quite a long time and just there for the short-term. But if the goal is to be there for the longer term, then these factors are indeed too essential to be neglected. Your advice to prioritize financial stability as well as security over investment is indeed a very wise approach because without those things in check, there can never be an investment to start with. Your insightful approaches to Bitcoin investment and financial planning has been most valuable and helpful to this community and those seeking guidance, we appreciate your efforts. Maybe I should give an example?
Hypothetical poor person just found out about bitcoin, and he has an income of about $500 to $1,800 per month, with usual income of about $1k. His expenses are usually between $700 and $1,200, but most of the time $900. He has an emergency fund that is about $1k, a reserve fund and float that is around $600. Right now, with these circumstances, what should he do? Start buying BTC or wait for a dip that might or might not happen.
He cannot do both. He has to choose which one is going to. Right?
Considering the person's financial situation, I'd strongly advice that he prioritized building a more solid and robust emergency fund and reserve and also try cutting down some expenses before considering going to bitcoin investment. That's quite a significant income variability, making it very crucial to build a more solid emergency fund that can cover at least 3 to 6 months of his living expenses, 3 to 6 montha i believe ahould be solid enough for him to consider buying and accumulation. Because the having just $1000 in his emergency fund and float around $600 when his high expenses is around $900 which is almost close to his average income, considering investment at this point would leave very little room for discretionary spending or investment. So the best approach at this point would be to focus more and prioritize building a more solid financial foundation. |
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All these and many more happen during this period so it would be nice for every newbie and know what to do to avoid such stories especially for the aspect of saving or keeping your coins on exchanges Newbies need to stay informed, as when you're joining a new industry you have to stay updated with how things are going on in the market. If you're a newbie on the forum don't be shy to ask questions and stay login as information will be disclosed regularly on the forum that can save you from becoming a victim yourself to this scams. What were experiencing right now is a tip of the iceberg as things will be more intense as the bull market continues. The scams aren't much different from what has been happening in the past so you can easily spot them. Do some research and not stay ignorant or in the dark and you won't be a victim to the scams The cryptocurrency industry have indeed evolved from what it used to be in the past, so many earning opportunities have been introduced and so many scammers have also taken advantage of these opportunities to swindle people's hard earned funds and there are so many ways and methods these scammers have also introduced into the system, they've also developed softwares, apps and gadgets to aid them in their course and the worst of it all is that, they can successfully scam a person without the person even having a clue of what had just happened, that's messed up the industry is right now. The only way to try to avoid these scams for newbies is indeed staying informed and updated on the latest informations, market trends as well as developments in the crypto world. You're right about newbies being shy to ask questions and make certain inquiries and complaints when they have need for them, some of us ever feel intimidated by others for some reason or the other, but this is actually one of the best ways to stay ahead of some potential scams that people normally fall into. Ignorance and lack of knowledge and information can indeed make a person very vulnerable and an available target for scammers and fraudsters, but we all know the popular saying about knowledge being power, the only way one can stay ahead of the game is by being proactive and seeking after all the knowledge you can get your hands on, that way, you could be able to easily dictate some common scams and pitfalls. Empowering one's self with knowledge and staying informed is very very important and the key to making sure you have a safe investment, because safety comes first before every other thing in the cryptocurrency industry. |
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The most I've been able to get out of all you've said is entirely correct and true.
You have a tremendous viewpoint of what the DCA strategy is all about (although with some little flaws) and how beneficial it is to those/choose chose to adopt it as their method of Bitcoin accumulation.
Inasmuch as what you've said is correct, it can't always work out as expected, although it could work out most of the times, but not always, due to the unpredictability of the market, you could still split the money into smaller units and still buy through a dip or buy more when prices are high and less when prices are relatively low, which could actually be considered as loss.
It's doesn't really work all the time regardless of the fact fact that it's actually one of the most effective techniques when accumulating bitcoin because by splitting your investment into smaller units and using them to buy at different price points.
This method is very essential because it helps you not to invest too much at the wrong because you're investing in units, and it can also help to stabilize your emotion and balance it a lil bit more in the middle of a market fluctuation.
Hey do you want to do an experiment on the difference of opinion. Maybe we could setup a thread with the two of us in, and setup some rules for the experiment. Im totally open to discussing and defining the rules but i was thinking something like this Term - 12 months, split into 52 weekly time frames Budget(Imaginary) - $5200 Exchange - Bitstamp for pricing buys Changes Allowed - Sundays only and require to be posted on the thread. I set dca up for a fixed weekly buy, at 5pm UTC on a Monday every week, and then record the imaginary btc amount in the thread. I can change my dca amount any week by posting in the thread on Sunday only but cannot go past the Budget of $5200. You post every Sunday in the thread with your market limit buys targeting your dip targets for that week Mon - Sun , if any hit during the week, you record the btc amount & price paid in the thread. You can cancel your limit buy orders after they stayed active for at least one week. You can set any amount to the limit buy orders but cannot go past the budget of $5200. At year end we tally the total amount BTC, AVG Price, $Spent and see how we did. This is not a bet/wagering opportunity just a simple experiment. Others ofc can bet on the outcomes tho. Any interest? I know you want to show Tungbulu that the DCA strategy is the best strategy to use for accumulating bitcoin. I see no reason for doing that if he doesn't want to only accumulate bitcoin with the DCA strategy. You can adopt a strategy that can work for you in accumulating bitcoin, provided you will not sell your bitcoin before the maturity time because of a pressing issue. Since the experiment is for one year, you might be on the losing side since bitcoin halving has passed. You might accumulate most of your bitcoin at a very high price within one year. Soon we will not see the price of bitcoin at this price, so Tungbulu can seize this opportunity that the bitcoin price is at $60k plus to lump sum in bitcoin with $2k from the $5200 you guys set outside. Tungbulu will be left with $3200 that he can use to buy bitcoin when there is a dip and still accumulate with the DCA strategy. Before you can finish your $5200 in 52 weeks, you might be accumulating your bitcoin when it has entered six digits, which will be expensive for you at that time. There's a big possibility that Tungbulu will accumulate more bitcoin than you if you guys go on with this bet. Did you take a look at my earliest posts here? I mean my response to the post of Greyhats that you quoted, because you seem to still be missing the point, the experiment isn't to convince me that DCA is a more viable and more effective approach, compared to Timing the market, and not even about Tungbulu considering an alternative approach for accumulating Bitcoin. It's just an experiment to state state and prove a point for general learning. In terms of using a strategy, there really is no need for debate between one person and another
Again, this isn't a debate neither is it a contest between two strategies. It's merely just a demonstration for general learning, not a means to settle an argument or debate. |
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Well I would prefer to tell you guys not to bet at all cause I know a gamble can be and one of you guys might take it too serious and get yourself into trouble.
This is merely just a demonstration not a bet. It was meant to be an experiment to practically figuring out which strategy is more effective, Time the Market or DCA. So people who argue that DCA isn't a better option than Timing the market could look at the practical example and also make their assessment and observations with the visual and practical example provided. So it wasn't supposed to be a bet or an avenue for arguments. |
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The most I've been able to get out of all you've said is entirely correct and true.
You have a tremendous viewpoint of what the DCA strategy is all about (although with some little flaws) and how beneficial it is to those/choose chose to adopt it as their method of Bitcoin accumulation.
Inasmuch as what you've said is correct, it can't always work out as expected, although it could work out most of the times, but not always, due to the unpredictability of the market, you could still split the money into smaller units and still buy through a dip or buy more when prices are high and less when prices are relatively low, which could actually be considered as loss.
It's doesn't really work all the time regardless of the fact fact that it's actually one of the most effective techniques when accumulating bitcoin because by splitting your investment into smaller units and using them to buy at different price points.
This method is very essential because it helps you not to invest too much at the wrong because you're investing in units, and it can also help to stabilize your emotion and balance it a lil bit more in the middle of a market fluctuation.
Hey do you want to do an experiment on the difference of opinion. Maybe we could setup a thread with the two of us in, and setup some rules for the experiment. Im totally open to discussing and defining the rules but i was thinking something like this Term - 12 months, split into 52 weekly time frames Budget(Imaginary) - $5200 Exchange - Bitstamp for pricing buys Changes Allowed - Sundays only and require to be posted on the thread. I set dca up for a fixed weekly buy, at 5pm UTC on a Monday every week, and then record the imaginary btc amount in the thread. I can change my dca amount any week by posting in the thread on Sunday only but cannot go past the Budget of $5200. You post every Sunday in the thread with your market limit buys targeting your dip targets for that week Mon - Sun , if any hit during the week, you record the btc amount & price paid in the thread. You can cancel your limit buy orders after they stayed active for at least one week. You can set any amount to the limit buy orders but cannot go past the budget of $5200. At year end we tally the total amount BTC, AVG Price, $Spent and see how we did. This is not a bet/wagering opportunity just a simple experiment. Others ofc can bet on the outcomes tho. Any interest? If the reason for this experiment is to prove to me that DCA strategy is much more effective than trying to time the market, then I'm fully much aware of that fact, I'm a big fan of DCA, and that's the only strategy I preach to people who indicate interest in knowing the best strategy for bitcoin accumulation. I don't know if you misunderstood my explanation, but all I'm trying to do is outline few disadvantages that could be seen while using the DCA approach, I wasn't trying to discredit its viability or effectiveness. We can all agree (except maybe for those who have a problem with me  ) that no matter how effective a strategy is, it also has its prons and cons and that is the fact im trying to state, not discredit the effectiveness of the DCA strategy. I think we both know what the outcome of this experiment would be, because DCA would always be much more effective and safer than trying to time the market ( that I know for sure). But if you're still interested on doing this experiment not to prove it to me but to show other newbies who are new and are looking for the best approach to employ in their bitcoin accumulation, then I'll review the terms of the experiment and then get back to you soon enough. First of all congrats on your new Full member rank!
What I see here is that you are trying to go on a bet with Tungbulu, but I'll tell you he is not ready yet, I feel most of the strategies he speaks about he does not practice it, but this is a challenge window and it is open for anyone who thinks his idea on bitcoin investment is valid. After all, we are all here to learn and correct our past mistakes or see opinions from other members.
I am really interested in the bet/wagering, I believe it will be more than just an experiment as a good accumulation would be gotten based on the term which is obviously a year period. You both can start I could use your strategies and play around with my new long-term goal. Besides by now Tungbulu would has suppose to respond to this.
I see you have nothing to do other than pick on someone who isn't even your size, I would've chosen to just ignore this because it would've been better, but I'll bring myself down to your level and reply. Honestly I really don't know and still trying to figure out what your problem with me is. Anyways, everyone is entitled to their own personal opinion about others and I wouldn't bother trying to change that. I've noticed you've just been trying to bully me with every single opportunity you get, the whole time. First it was you trying to bully me over an error I respectfully accepted and corrected (like I'm supposed to be above errors). Secondly, you suddenly feel I'm really not practicing any of the strategies I preach or talk about here. Thirdly, I didn't know there was a specific time given to reply a message that was directed to me and not you, the sender isn't even complaining about my not yet replying and you're the one showing concern ovee what is of no concern to you. I hate being picked on, if you observed I've erred in some way, then there are better ways to do it than making yourself look like you're picking on me because I don't think I've insulted or disrespected you in anyway, so Mate if you've got something against me or something to get off your chest, spill it and let's address it as men, rather than acting like a high school bully, cos this place is obviously not high school. For me there is no point of getting into any challenge with any fellow who thinks he knows it all and refuse to listen to the voice of reason. Majority of us here know that the DCA method is more effective and of course it is a stand out method which has remained valid for many years. If you have tried your best to educate someone and the person refuse to learn, just let the him or her keep languishing in ignorance. There is no point for this challenge, what if tomorrow another person comes up with another argument will you also start a thread with that person. The best we can do for people is educate them but if they don't want to learn we move ahead and leave them. Remember you can take a horse to the stream but you can't for the horse to drink from the stream.
This is becoming pretty interesting, it appears a lot of people have really misunderstood me. I wouldn't wanna believe that you also have a problem with me, instead I'll just assume this is all a big misconception. If you go through my posts, you'll see that I'm a big canvasser of the DCA strategy and how effective it is, so I really don't know where all of this is coming from about me being against the DCA strategy. First of, I don't believe I know it all, because if I do, then I wouldn't be here interacting and trying to share knowledge, all I've dome is share my own perspective of things, and not claim to know more than anyone here, so forgive me if you have such a misconception about me. Secondly, majority of the people here, just as you've stated, knows that DCA strategy is quite effective and more viable than every other technique, and I'm very much aware of this fact. I don't know if you feel I'm disagreeing with that fact, but I'm obviously not. Thirdly, I believe this is the first time you're quoting me, so what's this about correcting me and refusing to take corrections, because I really don't get it. But at least we agree on two things, and that is, DCA strategy is the best when it comes to Bitcoin accumulation, compared to timing the market, and that there's no point for this experiment is the only reason is to prove to me that DCA is better than Timing the market, except of course there's something else we are trying to prove here. |
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