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Overtime all this year's I have been made to believe that money is the root of all evil.
But is actually a miss quote, right now with my research I have been able to note that money is not actually the root of all evil,
In the book of( first TIMOTHY 6 V 10) It says for the love of money is all kinds of evil.
Now the subject matter here is money but the problem is not money.
The problem is human having so much excessive desires for money, money is actually neutral you can choose on how to get it either by positives way or by negative way it all depends on you.
So you all we agree with me that money is not the root of all evil, but human desire, greed and love for money is.
The statement, or let's say the core idea, is not that money itself is evil; the actual quote says that the love for money is the root of all kinds of evil, but it's often misunderstood by the people. People take the statement as 'money itself is bad', which it is not. But for my own understanding, what the quote means is that when money becomes the very or most important thing in a person's life, it can actually lead a person to all kinds of bad character or behaviour. When you think about how some people need money to the extent they don't even care where it will come from, because people will lie, cheatone another, or even steal just to get more of it, However, I can say that the desire for money can drive some people to do anything just to get that money. |
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People are afraid to start investing because they have little idea about Bitcoin. But when someone starts a new investment, they start investing aggressively without thinking about the ups and downs of the future. Later, when they start facing one problem after another, they realize that in order to invest continuously, they need to have sufficient knowledge about some other things besides their money. We need to have a good understanding of some things.
I really get your point; it really happened like that. People are afraid to start up something, especially if it is something that they have never done before, but with the little idea that they have about Bitcoin, the only thing they need for that particular time is proper guidance, someone that will guide them on what to do to achieve or meet up with their plan and also what to do to escape the risk that they have been afraid of. After proper guidance allowing the person to start investing with little funds, as they may be afraid to start with big money, when they start from little, believe me, with time they will realise the sweetest part of it. and they will prefer to invest long-term rather than short-term. |
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If business owners, taxi owners, hotel owners and others who claim to be working for themselves need to depend on customers and customer satisfaction for profit, that is to be able to get money from them, are they really working for themselves?
Maybe the people who are actually working for themselves are those who do not need people or to satisfy any customer to make profit, example like the traders who do not need to lure customers to their shop like business owners or hotel owners, or taxi owner that need to follow instructions from their clients etc.
What could be the real definition of working for yourself?
For someone working for themselves, it can simply mean you don't depend on anything or anybody to take a decision for you; you are self-employed, running your own particular business; you take control over your business; you can shape your career according to your vision; and you can also get to keep all the profit you make, proving that your own business directly benefits you, without waiting for someone from above to take a decision or command you what to do. |
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But am of the opinion that there is no reason to regret because opportunities that are lost is lost the best thing to do is to see how you can make do of what is available in a bid of correcting what has happened, that is why am saying that when it comes to Bitcoin there's no time that is too late you can start today because the future of Bitcoin is getting brighter everyday that passes so starting with Bitcoin as of when you get to know of the opportunities that Bitcoin offers is the best no to regret of past opportunities.
Instead to regret start with Bitcoin today
Exactly, time never passes when it comes to investment for Bitcoin because when you see your friend's investment at a particular time and watch your friend invest, you think that the price is very high, thinking that the market will not do well. Later on, you discover that the market is doing well; it will come as a regret for you who did not invest. It is always good advice anytime, any day, when one comes across a Bitcoin investment, to take advantage of opportunities at a particular time to avoid regret later. Because investment in Bitcoin doesn't necessarily require a huge amount of money to begin the investment, one can start accumulating Bitcoin by using the DCA method, which makes it an easier way for people who have much interest in Bitcoin investment. |
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It is so annoying seeing people begging for survival it really breaks my heart.
I really tried to figure out why majority of people are so poor to a climax of begging for survival.
I don't know if I am to blame the government or individuals. Anyways here are the following factors that convince me why majority of people are poor.
The causes of poverty are many, which can involve a combination of economic and social factors. Many people rely on the government to provide everything for them. I also believe it is the responsibility of the government to make a job available for citizens, but some are too lazy to stand on their own. There are certain things the government can't provide for you, and the only way to achieve that is to make a plan and start up a business which can generate more money to meet your basic needs. Even some people who work for the government find their salary can't cover all the bills; they have to start up something to generate more money to meet their needs. |
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Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?
The reason why some people find it very difficult to save money is for many reasons often intertwined with psychological, economic, and lifestyle factors. The major factor is that the pressure of spending money that you don't have before will make you forget the whole benefit of saving. The moment you are satisfied with all your needs, you realise later and make arrangements for future income, which is if you have it, because money can be saved when you have a really reliable source, which is steady income. Economic conditions also play an important role when it comes to saving because low income and high living, and also unexpected expenses, you don't even expect them, and they appear –can make it hard to save, especially for people with limited resources. Lifestyle choices and also financial habits: some people choose to live a very expensive life, which can also contribute to the difficulty of saving. A poor budget and a lack of financial education can also lead to unnecessary spending and also a lack of awareness of not knowing where money is going. Without any clear financial plan or goals, all this can make it easy to let saving fall. |
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Yes as the topic said it all and it is very simple to understand. Instead of planning to use your business money to invest in bitcoin, I advise you to use the profit to invest and keep the capital to run di business and even di profit no be all you go use because you get other bills and things to do. Many people business of the advantages of investing in bitcoin would not think of what would happen when they invest their all in bitcoin and starting to beg from others to eat because they what to grow their investment or if they can't wait, they will be touching the investment bitcoin again.
From my own point of view, investing your business money into Bitcoin is a complex decision, which has possible rewards and also significant risks involved. Let me talk about possible rewards. The value of Bitcoin can increase, offering you high returns on your investment. It can also diversify your investment portfolio and reduce overall risk. Now let me talk about the risk to, as Bitcoin prices is dey very incredible volatile, mean that the value can swing wildly in short period of time and this volatility can lead to substantial losses, As investment in bitcoin always requires stable funds and a long period of time, using business money is not advisable if you don't have any alternatives. It will be good to run your business with time; your profit in your business will be savings for investment in bitcoin. |
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Most Nigerians are used to passing down land, houses, or even businesses to their children as a form of inheritance. But Bitcoin has changed the way many of us save and store value. One question that doesn’t get talked about enough is this: if something happens to you tomorrow, how will your family access your Bitcoin?
Unlike a bank account where next-of-kin can be contacted, Bitcoin depends fully on whether your loved ones know your private keys, seed phrase, or wallet details. Some people don’t want to share their keys for security reasons, but at the same time, keeping it secret could mean their family never benefits from their hard work.
So how are Nigerians handling this? Do you trust your spouse, siblings, or children with your private keys now? Or do you have a system in place for them to access your Bitcoin later? Is there even a safe way to do this in our environment where scams and mistrust are common?
I’d like to hear different views, what’s your personal plan for Bitcoin inheritance in Nigeria?
This is a great question. But my own opinion here is that whenever an investor invests in Bitcoin, at least they should have a clear plan in one place, as tomorrow is not promised. This is very important; you can put it in your will. Even if you can't do that, there must be someone you trust. Whether among your friends or in your family, you can tell about your private key, as it's very important for part of the Bitcoin investment, because Bitcoin is stored in digital wallets, and to access those wallets, it must be with the help of private keys. Anytime, you must make sure that the person or people that'll be the beneficiaries have access to the private key, because if they don't have access to the key, they can never have access to the bitcoin. Let someone you trust in your family know about the private key; that will help you. Even if you are no more, they can easily get access to the bitcoin. |
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My people, abeg make we reason this thing well. For Naija, everybody dey talk say land na real wealth and e no dey lose value, and once you own am, na asset wey fit pass from generation to generation. But now we get Bitcoin, one digital money wey don surprise the world with crazy growth and international respect. So for a normal Nigerian wey dey find how to secure tomorrow, the question be:
>To buy land (plots/real estate) or to buy Bitcoin?
>Which one go hold better value in the next 10–20 years?
Land dey solid but government wahala and paperwork fit stress person. Bitcoin dey borderless but the price dey shake up and down. Which one really guarantee wealth for Nigerians?
Lol, Make we yarn, if ₦5m dey your hand right now, you go put am inside land or inside Bitcoin? Thoughts.
If I am to say, it is both, really an investment because land now is always seen as a stable investment because its value usually goes up with time, especially when you have land in growing areas that contribute more value to the land. Land is also a physical asset which you can see and use, which can be a big plus for some people. But Bitcoin, on the other hand, is a digital asset whose value can change a lot in a very short time. |
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I think allowing a newbie to come to you for a full knowledge about Bitcoin is the best than you as a investor that has been into Bitcoin for a very long time to go to a newbie and introduce the Bitcoin to him, such a newbie will not take it seriously because he will be seeing that you have just introducing a scheme that him can't make quick profit out of it within a short period of time and such a newbie will surely ask this question that will him going to make money immediately if he eventually join Bitcoin and with such question on his mind he can't have the patient of waiting for so long in building up his Bitcoin portfolio but a newbie that has seen the evidence that you are really making it in life will be desperate to know the source of your income and he will baging for an update so that he can be like you and with such a newbie he will have all the mindset and patient just for him to learn all about Bitcoin and how it works, so my mates fee free to express your experience on which of the newbies that you think will be serious to learn and in building up his Bitcoin portfolio.
The idea of allowing a newbie to come to you to learn about Bitcoin can be highly valuable because it can build a solid foundation and also give the investor a way to reduce the risk of scams. A proper introduction will be made with a how-to guide account and also how to invest for the long term, because if someone came to you and asked you to teach them about something, that showed that they were eager to learn. Instead of you going to meet them and telling them to invest in Bitcoin, it will look suspicious, and they may lack trust because they will think it is a scam, which it is not. |
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It is said that bitcoin is also a means of investment used around the world,but if one want to invest it will be someone who has a means or source of income because investment can't take place the person having means or source to.That means the poor people can't invest because they don't have the source of income to make an investment and t left for the the rich ones only (is that true?)
That is the truth, we can't deny the fact that people with money always have more opportunities than the poor when it comes to investment. Firstly, rich people have more buying things when ever they like. because they can put big funds into a bitcoin without bothering about how they pay for basics like food, rent and other stuff they use. That can let them use steady buying, like buying small amounts of bitcoin weekly or monthly no matter what the price is. And they can handle risk. Where rich people can spread their cash and put some money into Bitcoin and other things, they can also get some financial plan to fit Bitcoin into a bigger plan. Education and information matter too when it comes to investment; when people get basic knowledge about what they are about to do, it makes work easier for them, and rich people have more ways to learn about Bitcoin and the market and teach work, because they can consult other crypto people and learn more, which poor people cannot. And long-term investments help a lot. Rich people can keep investments for the long term, so they don't care about the short term, so price drops don't scare them as much. They can wait for a good moment to buy a dip. People with money always get more opportunities when it comes to investment. |
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In that case, should you try to fake your own situation as to not get pity or should you be honest? When I encounter people who are financially ahead than me I just think that it will be me someday... That I will reach that level too where I would be able to buy whatever they can. So basically I try to make them my inspiration. Do you take inspiration from the rich people or do they make you feel worse?
Mingling with people who are financially better off than you is not offensive; it is also an achievement in life, because two poor people cannot help each other, but when you have opportunities to mingle with people who are financially okay, you can get some business ideas from them if they are really good friends and ready to guide. It does not really matter to fake it, because in your process of faking it, you may lose your helper. When you fake it, they may think you have already when you have nothing. Although some still make it in the process of faking it, while some do not, when you show the kind of person you are without faking it, your helper will eventually locate you. |
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Two of the most active spaces in crypto are X and YouTube, where people talk about coins and projects. Almost any idea you can think of gets covered daily. But a lot of the noise comes from influencers, they hype projects they hold, trying to build awareness so others buy in and they can make profit.
There’s nothing wrong with promoting crypto investments, but most of the time these guys aren’t fully honest. They push hard to convince people to buy while leaving out the negative side. That’s why you shouldn’t take everything they say all the
They don’t care about feedback and your experience: Once they share advice or promote a project, they move on and never look back because they have already pocketed the money from that project or money from the coin. Their focus is always on the next project that is going to give them money and make them more, whether the product is worth it or not.
That's problem a lot of people face in hands of influencer and content creator must of their followers believe on them and follow their lead but some of them end up disappoint their followers because anyone they advertise about investment they only speak about advantage, and what can benefit them without show up the side effect, even as influencer if you are given money to promote a project or business, before doing is good to ask how is it going to benefit your followers and also bad side of it because anyone that follow you believe on you and trust you but most of them only know about their pocket, that's why many people find it difficult to invest in online platforms because it always turn up bad. |
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I know very well that most persons have the knowledge of bitcoin and have even started investing in Bitcoin before joining the forum. But for the period have been here, I notice that most of the old members here always think newbies are new to bitcoin. When newbies post things about bitcoin, most old members tend to have negative quote about it, as if newbies are not qualified to talk about bitcoin.
Do they think all newbies that joined the forum have no knowledge about it before joining?
Not every newbie is new to Bitcoin; a lot of people know about Bitcoin. It's just that when you step into the forum, the title 'newbie' attached to your name becomes necessary, so as you create your first introduction thread, what high-rank members do is to observe and welcome you as the newbie you are. From my own observation, the second thread you post explains to members the kind of person you are, whether you knew much about Bitcoin before joining or you are completely new to Bitcoin. It's not that old members attack newcomers; it's just observation. When they see a correction, they do the needful. And again, the Bitcoin Forum is an organisation where many people come together to share knowledge about Bitcoin and other cryptocurrencies; everyone shares his or her opinion here without attacking each other. They only make corrections when newbies make mistakes in the thread created; old members only make corrections, not attacks. |
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The most important factor to consider when starting to build a business is the target audience. You have to think of who would you want to cater to. Who are the communities that you may profit off of. Like for example if there is a school near you, you should know that students would be your target audience. You should start a business where students can buy materials from or a place they can study or even hang out around. I believe that if you studied your target audience, the first step of your business is already successful enough.
Every successful businessperson, or let me say, anyone who wants to start up a business, must at least know these: have a clear business idea by conducting market research to understand the customers and create a business plan that will bring out your strategy and financial needs. You also need to secure funding, then target the right audience in a suitable location. |
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We deh for era weh economic inflation done make di effort men deh put to make money to be as if man no deh try for the hustle. Men done deh involve into plenty hustle at a time to meet up demands yet their pay no feat meet standard.
For this era your income grow ahead of inflation you done already deh ahead of the bar be that, and salary alone no go feat take you to that height ontil you add asset investments to accelerate your income.
People for this part of di world weh we deh get phobia for di words "bitcoin investment" when you talk to them about it for them to use as extra means to make money, them go deh think what if it go wrong. Them no want first think am smart, that what if it go right. It go survive them over the inflation weh deh.
My people na where this wrong wrong attitude thinking di come from with our country men and women where di talk on investment is talked on?
Most people in Nigeria classified bitcoin as online investment wey dem see before and dey consider all online investment as something wey fit end up bad, without proper knowledge about bitcoin nah why dem develop d wrong thinking about wetin bitcoin investment be. What you just talked about now, I see am As the truth is, most people in our country here think Bitcoin is an online investment that may end in the wrong direction. As an investor, for you to convince them, they want you to come with evidence for them to believe you. With even your evidence, they still wouldn't have trust; they will say it's a scam. Such people are hard to believe because such victims have had it happen to them before in a situation where they need quick money and invest all their money into a fake site and, expecting a huge amount as the profit, eventually end up bad. That's why it is hard for some people to believe in Bitcoin, not knowing that Bitcoin is different from other online platforms. But what I like about my country, Nigeria, is that Nigerians like to invest their money. There are still people who are yet to believe in investing in Bitcoin, but with time they will come around and invest. |
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Finally, as a newbie always make sure that you make provision for back up funds and emergency funds each time you get your income before investing in bitcoin. This will help to keep your mind away from always thinking about selling your bitcoin. Backup funds will help you to take care of some price changes that may occur in some commodities which you may need before your next salary. Let's say that in your basic responsibilities, you provided for half bag of rice for the month and you budgeted #25k and on reaching the store, you then discover that half bag is now #28k, instead of going to sell part of your bitcoin, it is your backup funds that you will use to compensate for the #3k that you didn't budget for. Also, Emergency funds will help you to take care of unforeseen circumstances that may happen during the period you are waiting for your next salary which could be natural disasters or health issues. Instead of going to sell your bitcoin, you will use that money which you called the emergency funds to take care of it. By so doing, your bitcoin will be safer and you can HODL for a very long time which will help you to make the best profit from bitcoin so that you will not loose your money.
Having backupand emergency funds is very important whenever it comes to Bitcoin investment, because the money you are about to invest in Bitcoin should be what you don't plan for for a long period of time. You can invest in Bitcoin and plan to use the investment in a couple of weeks or months, but "NO", that's not an investment; that's just saving to use. Investment in Bitcoin always requires understanding and a patient long-term plan; that's when you will see what you invest in. That backup fund can help in the aspect of investment in Bitcoin to meet basic needs, and urgent money and backup funds make the investment stable without distraction. When planning for investment, backup should always be included in any business, not only Bitcoin but every investment. It solves the little problems and makes the investment move smoothly. Op, you did a great job for everyone, not only the newbie. |
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I had a conversation with someone outside this forum and my choice of topic "Must everyone invest in Bitcoin" was his question, it's a nice question for someone that's willing to know about Bitcoin so I decided to bring it here to know the opinion of members of our Local board.
Well my own opinion and reply to him is that it's a matter of choice, Bitcoin investment is not forced on anyone, yes anyone can invest in it but must be willing and should have the necessary requirements to do so, moreover it's not the only investment option and there are lots of others like Real Estate, Gold, Stock, and even Commodities like agricultural, petroleum/natural gas, livestocks etc.
However since Bitcoin is a modern form of investment, the best digital asset and has become a very reliable asset that can generate good profits for long-term it would be nice to seize the opportunity of investing in it as it's still very early compared to when the price would go higher in the future, hopefully.
bitcoin investment is a personal choice, bitcoin is not an investment that force people, bitcoin is just a life changer for everyone who heard about bitcoin before and have interest to invest, and bitcoin investor don't go around to beg people to invest in bitcoin, no they don't do that, because once they do that people will think that bitcoin is like others platform that allow people to invest their money and run away, but what bitcoin investors does they focus on their own investment for long term after making a lot of profit from long term investment sit on their comfort zone, be shining like a glass, people starting consulting them and ask how do they make their money that's when they introduce bitcoin to them, and teach them how to invest for period of time to make a huge amount as a profit , But once you start to beg people around to invest in Bitcoin, they will look at it suspiciously, and they will think Bitcoin is a scam, which it is not. But wait for people to come to you to give them proper orientation; Bitcoin is not an investment by force but a life changer. |
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Me dey always talk an any investment or anything wey no go double my money, count me out my hand no dey I no follow. Now wetting go double my money I dey do no matter the risk wey dey inside an.
Normally investing in bitcoin or saving your money for bank get there own advantages and disadvantages, which I go list them here, so that you go chose wisely if you go take the risk grow your money, or you go carry give bank make them use an grow thereself from that bitcoin wey you dey fear to put money.
Advantages of investing in bitcoin
1, bitcoin get high potential returns, if you put your in bitcoin, bitcoin dey deliver, because ehh don already prove ehh self to be store of value.
2, bitcoin dey operate for wetting oyibo call network wey dey discentralize, so if you put you money inside ehh dey secure, person no go fit touch an.
3, bitcoin get limited supply, them no dey supply bitcoin anyhow, now wetting dey make an maintain ehh value bit that.
4, many countries don adopt bitcoin as their means of payment and store of value, so if you put your money in bitcoin everywhere good.
Disadvantages
1, Bitcoin get high risk, the price dey fluctuate rapidly and unpredictable oh, so ehh fit give you high blood pressure if you mind no reach.
2, bitcoin price go fit drop within a short period of time, that is to say you go fit put like 100k ehh fit drop to 60k or 70k and ehh fit make your BP raise if your mind no reach.
3, for bitcoin now you go scure your money by yourself, so if you lost your wallet key seeds now buy buy be that oh and person fit still steal your bitcoin from your wallet if you no scure an well.
Saving your money for bank advantages
1, for bank you go fit go collect your money anytime wey you need an no wahala.
2, bank get low risk, if you put your money inside bank high blood pressure no go see you catch.
3, if you save your money for bank you fit dey see small small money.
4, bank get people wey you go go catch if anything do you money.
Disadvantages
1, Bank get low return, nothing dey come out if you put your money for bank, for example if you put 100k for bank for 6 years now only 500 naira fit be your top up.
2, bank go charge you fees for services and maintenance, that small top up wey bank give you, bank go still collect an back, and bank go still collect from your money too, which you loose bank go gain from your money wey you put.
3, bank go dey use your money dey investment for that bitcoin wey you dey fear, dey get massive profits with your money.
Saving money in a bank or investing it into bitcoin both have use for us here in Nigeria. If you understand how Bitcoin operates and also know the benefit behind investment in Bitcoin, you would like to choose Bitcoin over saving in a bank, but people who are ignorant of Bitcoin will still choose a bank over Bitcoin because they don't know the benefit behind it, saving in the bank gives you quick access when ever you have emergency to meet up with your needs. But for me personally, if I have to choose, I will choose bitcoin as a long-term investment, because if I'm to leave my money in a bank, I will expect nothing in return other than a deduction per transaction or at the end of every month, but a long-term investment in bitcoin gives me hope for something in return. I still choose bitcoin over a bank. |
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