I was discussing price speculations with an experienced bitcoiner and he was emphasizing about September, not being a good month for cryptocurrency, that he's looking beyond it for positive price pump. He said that he's more optimistic about October, for us to see a positive recovery and enter into a realistic bull season. I don't mind Bitcoin price hovering around $60k because I'm not looking forward to any major dip again, that will be disappointing and a heartbreak for me, being quite new in hodling Bitcoin. The strategy that I've learnt in this speculation board is to buy, hodl and wait, I know that sooner or later we will see bull run at it's peak.

Bitcoin and the Blockchain technology are globalized and decentralized so any negative decisions that the Nigerian government might take against it will only have effect in the country, it won't disturb people in other countries. We should understand that government can regulate crypto transactions in exchanges and through Banks but p2p transactions between two parties remains decentralized and they will enjoy privacy and freedom in their transactions. These are the strong reasons like I mentioned why Bitcoin and Blockchain technology can not be taken away from Bitcoin holders by any government. A total crypto ban in Nigeria, will affect cryptocurrency transactions through exchanges like trading, but I sincerely hope that it will not escalate to that extent where there will be total ban on cryptocurrency in Nigeria.

I will rather hold 1 BTC today than 100 BTC in 2015 or anytime near the early years of it's creation, this is because in those days Bitcoin has not gained the reputation that it has today. In 2015 people were still still skeptical about it, not knowing whether it will survive in the future and increase in value. We have heard the story of one of the early holders of Bitcoin who bought pizzas with 10,000 Bitcoin, that story still amazes people because of what the value of Bitcoin is today. The reason why people hodl Bitcoin today is because of the increase in price that always reaches new ATH but in those days they didn't know about it's price will continue to increase.

Small scale Bitcoin holders panic and sale for two reasons one is because of lack of proper knowledge about how Bitcoin works, when they notice the value of their BTC decreasing on the Blockchain, they will naturally panic. It takes knowledge and experience of how Bitcoin works not to panic and sale when because they will think that the their BTC will soon vanish. Proper knowledge will make a hodler to understand about pump and dump that after dip price will recover and increase.

Another reason why small scale Bitcoin holders will panic to sale is because of lack of money, somebody who depends on the profits of Bitcoin investment to survive will naturally panic and sale when it begins to dip. Unlike the whales who are very rich and are not bothered about dip because they are holding for long term until they are prepared to offload their bags. Lack of money can make people to take rational decisions to sale and survive, not that they don't know that it's better to keep holding their Bitcoin for long term.

Many newbies have been led astray because of their lack of experience about how the cryptocurrency market is, they will hear about a new hyped project and without knowing how to research they will invest their hard earned money. In the end the token will die and they will lose everything, then most of them will categorize cryptocurrency as scam. I know somebody that lost a lot of money from investing in a shitcoin, she had money and was looking for a good business to invest in and somebody told her about a cryptocurrency that guarantees to give her over 100x returns on a short time, she invested and the crypto is now dead with her funds. I told her that if I had known about her plan I would've advices her to invest in Bitcoin and she will get returns on investment on the long term. A top celebrity in my country launched a token and a lot of people bought it because of his personality, now the token is dead.

For a large amount of Bitcoin it is better to store in a cold wallet, no doubt about that because it is not connected to any online device, all you need to do is secure your private keys. When it comes to hot wallet for smaller amount of Bitcoin in Satoshi, the best wallet as far as I'm concerned are electrum and bluewallet, I will recommend them to anybody that is looking for hot wallets to choose from. I believe that trustwallet is also good but my preference are the two that I mentioned although the most important thing to note about any wallet of choice is to secure your private keys and seed phrase, hide them in more than one place because they are the only proof of ownership to your coins in the Blockchain.

It is definitely possible for Bitcoin to make a generational wealth because it is a store of value and an asset that is best held on a long term for assured returns on investment. Bitcoin is an asset that someone can hodl and plan for the future, whether it's for yourself or your future generations, as long as you secure your private keys and your seed phrase you can hodl as long as you want into the Future. For easy and best strategy you can adopt the DCA method and plan for you and your loved ones future. You Don't need to have 1 BTC to transfer your wealth to your future generations, what you need to focus on is transferring the seed phrase to them because without the essential keys, no matter the the amount of Bitcoin that you have they will remain as donations to the Bitcoin community in the blochchain.

I don't think that it will surprise anybody that has crypto knowledge that El Salvador, still remains the top country when you are talking about Bitcoin adoption on a national level afterall they don't have any competitors yet at the national level. Let them continue to enjoy the lone top spot until another country seizes the opportunity of hodling the store of value as a national asset and have their citizens spend it like their fiat then maybe we can see a comparison. Bitcoin adoption is driven by individuals, groups and institutions and it is doing very fine as it is but I guess that the adoption will increase faster if more countries will act like El Salvador.

Due to the economic hardship in Nigeria, and other countries many people are looking for ways to earn money to survive and they engage in many get rich quick schemes to make money, most times they are scammed because of their ignorance. The success of NOTCOIN airdrop reward has opened the eyes of many people about the potentials of making money in cryptocurrency but many of them are not aware that we have more scam projects than the legit ones in the crypto market. Many newbies will do anything that they're told without having any experience or researching to know whether they are being scammed by the task they are asked to perform. People need to gather experience about cryptocurrency before they involve their money otherwise they can easily be scammed.

I have developed a positive mindset about Bitcoin by believing that no matter how long it remains in dip that there's certainty that it will rise again to reach new ATH, so I don't worry about when price will reach $100k. My strategy is buy as much as I can in this dip, hodl and wait for bull run when I will see the reward for my wait in returns on investment. My opinion about Bitcoin investment is that it is a store of value that you hodl for a long term to see profit from it so short term speculations is not a problem for me because I don't plan to sale during dip. The plan remains buy, hodl and wait till I see my anticipated price.

The forum is very well organized with the basic information on it's pinned threads and it's moderators that makes sure that it's rules are maintained. I also love the forum because it's discussions are not centered only on Bitcoin and cryptocurrency topics but also on other important aspects of local and international finance related topics. This forum is the best global global community that I've ever belonged to. Besides learning, discussing and increasing your knowledge about cryptocurrency and economics it's a unique forum where it's members can earn money from signature campaigns. Outside of this forum Bitcoin has continued to grow a larger community and it's adoption is increasing everyday.

The point is that governments will always fight anything that they don't have total control over and both telegram and cryptocurrency represents privacy and freedom. So the telegram's founders arrest might be to intimidate him and let him bow to the pressures of regulations. Is it really coincidental that this arrest is coming when telegram is merging with cryptocurrency that has increased it's popularity. It's true that some people see telegram as a hub for scammers but then there are a lot of legit people that uses telegram too so you can't victimize it because of the criminal activities that goes through it, afterall there are scams in other apps and institutions. Will you hold the man that created AK-47 responsible because criminals also uses it? I hope that the matter is resolved amicably and people around the world will keep enjoying the services of telegram.

Since I joined this Bitcointalk forum it has become a part of me, I visit it everyday as part of my daily routine. There are so much to learn and contribute to learning here, not only about Bitcoin and cryptocurrency but also about local and global economics, politics and society with off topics on matters that can add values to us. I especially love this our Nigerian local ( community ) board, a place to feel at home in the forum and interact on crypto and other relevant local news. The uniqueness of bitcointalk as an anonymous forum is that it's designed to make it's members to be free to express their views on discussions without being biased because you don't need to know any member personally. It is similar to Bitcoin that gives it's holders freedom and privacy as a decentralized digital cash.

Bitcoin has made it possible for us to have this active global forum community and it was created by the creator of Bitcoin itself Satoshi Nakamoto. Beyond this forum Bitcoin has also built a strong community of hodlers that are also called bitcoiners and the adoption is increasing. More people are embracing the freedom and privacy that comes with holding Bitcoin, even  the ones that were skeptical about it in the past. Bitcoin has changed the naretive of money globally as a decentralized alternative to fiat and as a store of value for investment.

I don't think that there is any restrictions anywhere for businesses not to accept Bitcoin in Nigeria, it is personal choices if they will like to accept it although accepting it as payments in the country is not yet popular. There are many businesses in a shopping mall, owned by different people and anyone of them can decide to accept Bitcoin and some others will not, so I don't think that it's easy to know malls that will accept Bitcoin, only the businesses can decide . I've heard that some established businesses accepts Bitcoin but I don't know if there's any statistics for business acceptance of Bitcoin in Nigeria. What you need to do if you have the need to make payments with Bitcoin is to ask whether they accept it. But because of the misinformation that people have about Bitcoin and our government's lack of support for it I will not ask whether I can pay with Bitcoin if they don't advertise that they accept it. As a Bitcoin hodler I like to keep the information private when I'm in the public for safety reasons, you can be attacked by criminals who think that your wallet is loaded.

I think that you are mistaking making profit and taking loan, they are different things, profit is the reward for your business, income is the reward for your work but loan is an external money that you add to your capital. So what you are calling giving yourself a loan is actually investing in cryptocurrency from your capital, if you gain it adds to your capital as returns on investment, if you don't gain it becomes a lose from your capital. I don't think that it is correct to say that you gave yourself a loan because it is your own money. You cannot give yourself what you already have. If the money is a joint holding with another party or group then you can borrow it because it doesn't belong to you alone. Individuals, associations, institutions and governments can decide to collect loans and when they do it becomes a liability on them to repay the money, if they can not repay it as at when due, either their collateral for the loan is taken by the giver or more interests can be added on the loan capital, depending on the loan agreement.

:Round 2

https://bitcointalk.org/index.php?topic=5500400.msg64234733#msg64234733
Category: Opinion
Section: Economics

 https://bitcointalk.org/index.php?topic=5502976.msg64325367#msg64325367
Category: Topic
Section: Local board

 https://bitcointalk.org/index.php?topic=5500634.msg64298624#msg64298624
Category: Opinion
Section: Local board

 https://bitcointalk.org/index.php?topic=5475065.msg64317373#msg64317373
Category: Opinion
Section: Economics

 https://bitcointalk.org/index.php?topic=5504770.msg64387624#msg64387624
Category: Opinion
Section: Bitcoin discussion

Dubai's Bitcoin adoption is a step in the right direction for them, being a country that is a destination for tourism, it will encourage the crypto community to visit their country and spend money in cryptocurrency. This approval of Bitcoin payments in that country will encourage more people in Dubai, and other neighboring countries who are still skeptical about it to approve and encourage the use of Bitcoin. Although Bitcoin is volatile and not very appropriate for salary earners who needs to spend money on the short term because price can dip when they want sale or spend it but during bull run they will profit as it will yield returns on investment for them.

Infact the trust and high hopes that parens had in the past when training their children in the higher institutions have drastically diminished due to the reality on ground that many graduates are currently jobless because of our detoriating economy. Parents will deprive themselves of many personal needs just to meet up with the payments of the high costs of tertiary education, in the end the children will graduate and still depend on them to meet some financial needs, it'll be a very sad and painful experience for such parents. It is back in the days that managerial jobs and other high paying jobs were reserved for graduates, as you are graduating lucrative jobs are already waiting for you but this days we have a lot of graduates pursuing very few jobs. Even when they see this jobs they are not well paid because demand is greater than supply and employees will offer ridiculous renumerations. This is why you will see graduates doing unskilled labor jobs just to make a living, that is why education is no longer a tool to escape poverty in Nigeria. Although this doesn't mean that education is not important but it is no longer a guaranteed key to success.

Increasing minimum wage for workers is a good way for the government to improve the living conditions of their workers so that their purchasing power can increase. But if the increase of minimum wage for workers is solely based on inflation in their country, then it will not be a lasting solution but a mere palliative on a temporary basis. The effect of increase in the minimum wage of workers because of high cost of living in the country will eventually make the cost of living to become higher because the prices of goods and services will automatically increase, business people who are also facing hardship will want to leverage on the workers salary increase and increase their prices. To solve the problem of inflation in any country, the government needs to focus on the root causes of the inflation, without tackling it, salary increase will just be circulating more money in the macroeconomics of the country without any tangible solution to the problem.

The government of my country recently increased the minimum wage of workers in the country because of the rising cost of commodities in the market but it didn't cushion the effect of inflation. The root causes of inflation in the country is due to our over reliance on foreign goods, the country imports more than it exports, therefore our fiat keeps losing value. Unless they tackle the root cause of the fiat devaluation, adding money to workers salary will not help them.

I have also pondered on this issue of investing what you can afford to loose in Bitcoin and I think that it should be like say said, we should invest what we can afford because Bitcoin is a store of value. What we can afford to loose means that we are not sure of the profitability of the asset that we want to buy, that is why we have to reduce the risk of losing or wasting our money so we will allocate an insignificant amount of money to it. Bitcoin should be allocated a reasonable amount from our income because it is a long term asset that will continue to give us returns on investment and the best way to accumulate it is by doing DCA method.

Investment in altcoins and any assets that we are not sure of it's profitability and those that we think can be scams should be done with amount that we can afford to loose. Using the amount that we can afford to loose means that we have it in our minds that we are gambling our funds so that if the business doesn't give us profit it will not bother us so much.