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Rank: Newbie to Jr Member
Merit left to rank up: 5
Sir please help me improve my rank by giving me some merit. |
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Initially I supported Nepal but after seeing their poor performance I am supporting West Indies because Nepal is batting very badly. Now 15 overs are over but Nepal has scored very few runs which is very bad. But the way Nepal is scoring if they cannot improve their batting performance then West Indies will definitely win. West Indies are performing very well and they are putting pressure on Nepal. I think West Indies will win today because Nepal will give a small target and they will not be able to compete with West Indies. I think if Nepal does not start the game well then they will never be able to win against a team like West Indies.
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Trading and gambling are one thing, if you trade with this kind of mentality, then you will make your trading like gambling, that is, you will trade without understanding and without analyzing. We can never call trading gambling because to trade, you must know about it and adopt technical strategies which will work even if you do not do it in the case of gambling. Gambling is only that you can play without using your knowledge and if you are lucky, you can win, but in the case of trading, it is completely different. To trade, you have to see what kind of candle it is and whether the market is up or down, you also have to see how much the market matches your analysis. If you see that your analysis is correct and perfect, then you can win if you trade. However, in many cases, even after doing a lot of analysis, you have to lose.
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Your service will be of great benefit to Nigerian brothers because they will get interest free loans from here which is very good, thank you very much and best wishes for launching this service. But it has made it easier and convenient for those who need funds to get interest free services. It is really great.
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You've probably come across this kind of message "Send us your BTC and we'll double it" trick either on your Facebook, WhatsApp or Telegram. The painful part be say our Nigerian people still they fall for these kind scams every single day. And e dey make we wonder why abi wetin go drive you to go invest or send money inside one audio platform wey go promise to double your money within hours. Reason someone telling you to just send ₦100k worth of BTC and they will turn it to ₦200k for you within few hours or like some will claim they want to bless you.
Their Format
Some even hide under government backed empowerment Promos or programs to make this offer, while others hide under fake celebrity accounts to make it look like giveaway offers and even use words like sow your crypto seed today and reap double under 24 hours, etc. The aim is to prey on your frustration and financial desperation to scam you.
The Red flags
But here are also some red flags you should notice in this kind off message offer:
Make you know say these kind of offers dey always come attached with some urgency such as 'Only 5 slots left, grab now '. Some will even send you fake transaction receipts and fake testimonials from telegram users that never existed to in a sense lure u into believing in their tricks but it's all lies every time.
The real truth
The truth be say, there's no real crypto investment company or a legit trader, protocol or app which will tell you to double your funds magically, none of the real guys or companies can guarantee you that. Once you see person wey dey promise guaranteed instant profits with just a deposit, run away because it's a pure scam alert.
The reason why people still dey fall for these tricks be say plenty of our people have little knowledge on how these crypto works while many of them are in poverty and looking for ways they can escape from poverty.
But if you ask me also, I will tell you the reason why it's lucrative for the perpetrators is because there's no solid regulations around online promotions in Nigeria and because of that many become victims while the perpetrators go unpunished.
But what we can also do is to:
1. Educate ourselves about these scams
2. Do more of digital literacy advocacy online in our local dialects
3. Report scam accounts once you recognize one because we need more voices to protect the powerful reputation behind crypto in our lives.
Our solution
I will like to engage us in two exercises on this thread:
1. Share your personal experiences around a similar incident or case of crypto doubling scam you encountered
2. Once you see any advert of a crypto related scams like this, take a screenshot of it and drop it here for our more experienced members here to kind of debate or authenticate, before we end up falling for it.
Yes, of course, to avoid such traps, one must have common sense, if a person has common sense, he will be able to protect himself from such fraud. But I will say that if it were true that your money will be doubled in a short time, then many people would have already become rich, I think this is never possible. If they send such messages that we will double your money within a few hours, you give us some BTC, then you should definitely be careful when reading such messages. I think that a person will not waste time on you without his profit. Because sometimes it is seen that there are many people who send such messages to Nigerians like us, they think that Nigerians do not know much about it, but many Nigerians have become cautious. I do not understand why a person would benefit me without his profit, otherwise why would he waste so much time on me. If this were the case, maybe we would not be poor, we could have doubled our money within a few hours by following some tips. I never consider such messages to be credible because I know that there is no such institution that will double my money and return it later, so I would say that all of us who are here will refrain from it and keep everyone aware of this issue. |
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In my opinion, in some cases gambling makes people hardworking, but not always, many times we see people who gamble all the time. However, a gambler becomes hardworking when he does not have any money to gamble with, he earns money to gamble and works hard. If he does not work, he will not be able to earn money and will not be able to gamble, hence his addiction is so much that he will not give up if he has to work hard, but will continue to gamble. So I would say not always, but in some cases, gambling can make people work hard.
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You have to put your money on the bet to play gambling, the main purpose here is to earn extra money, it is natural. Whatever one may say, I think at least this much that everyone has the same purpose behind gambling, that they will earn more money. However, if everyone's expectations are the same, some people's expectations are actually much higher, as a result of which people in all these categories get out of their sense of responsibility and start doing excessive things with this gambling game, as a result of which it is seen that they go bankrupt within a few days and remain hidden from the eyes of people. Gambling is a planned game, if there is excessive haste or too much greed, then it is not possible to achieve anything good from this. If someone thinks that he will not look for an alternative source of income, he will only continue to play gambling and he will live his life with the profits of gambling, then he is completely wrong. First, you have to ensure your own employment, then you have to try to gamble responsibly in your free time, this can be good for the gambler.
Yes, it is certainly true that in gambling, no one plays it without a purpose, but no matter what anyone says, it is certainly true that everyone comes here to make money, when they lose, they say that they came for entertainment. From my personal opinion, I would like to say that those who play for entertainment have extra money and a source of income, and those who come to bet or to make money will always stick here to improve, but I think it would be better for gamblers if they do not get addicted to it and play for a short time. But it is true that greed is a sin and death is a sin, so I would say that excessive greed is not good, if someone shows excessive greed in gambling, then he will lose again after winning. I think that planning to do something with gambling money is wrong and the biggest mistake of life. |
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Rank: Newbie to Jr Member
Merit left to rank up: 5
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Mine was in trading, as a newbie in the cryptospace, I thought that trading was easy and I didn't bother to learn deep. I started trading and got lucky in my first two positions that I opened and made little profits of $15 and $20 consecutively. I started feeling like a pro and got greedy the next day.
I opened a position and I have already made $20 profits but I became greedy and wanted a bigger profits which made me not stop the trade and take profits, Few minutes later, I dosed off. I woke up one hour after and saw that my account has been liquidated. I lost big, and avoided trading for a long period of time.
Yes, I also traded like you but I lost a lot here. When I first started trading, I just did it on assumptions without understanding which resulted in a lot of losses. I thought that it doesn't require much skill to do it, it's an easy thing, this thought helped me lose money completely. I was involved in different groups and hearing their success stories got my interest, after I started trading but since I didn't have that much knowledge about it, I always lost. |
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If asked why I gamble, I would say I gamble for fun, but I gamble with very little money so that I don't regret losing. I don't worry about it even after losing because I gamble very little and with such a small amount of money that it is very small. When it comes to gambling, I notice whether I am enjoying it or not, if I get bored, I don't play. Because I only play for my own enjoyment. If I were playing here to earn money, I wouldn't be happy if I lost, because I play with a small amount of money, so I enjoy it even if I lose.
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We saw the Bitcoin price increase the most last July, and it created a new ATH, where the Bitcoin price entered $123k, the highest in Bitcoin history. We then saw a big drop in Bitcoin where the Bitcoin price came down from $123k to $112k, although the market has entered a little higher at the moment and is currently at $114k.
So I guess that maybe the Bitcoin price is more likely to enter $130k by this August, what are your thoughts?
We are in August already and the current price of bitcoin is $118,606.47, but if i should assume that your speculation period is by August ending, then anything can happen along the line because lately bitcoin has been doing absolutely well in recent time , however no one can be too sure or get it right because of bitcoin flautrated nature but let's keep our fingers crossed for a better expectations. It is very difficult to predict, for me the price of Bitcoin is very volatile right now. An hour ago Bitcoin was at $120k, but since the market is very volatile at $119k, it can be said that it could reach a higher range very soon. We expect Bitcoin to make a new ATH this August. But I am not sure if it will exceed $130k, I expect it to stay in a good range. |
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Don't you think that Bitcoin might cross the ATH of $123k that happened last month since there are many remaining days in August for Bitcoin to give another round of uptrend movement in price
Not only OP but many members are also not optimistic about this month because they think August is not a favorable month for bitcoin. They look at history and think it might repeat itself this year, and while that's not entirely wrong, I don't think it's entirely right. Because each year the market will go through different impacts and stages, we cannot completely rely on the past to judge the future. Past event can’t always determine what will happen next, predicting if bitcoin price will surpass the present ATH this month can be difficult well we might not know viewing the market price is on the good side definitely it might go beyond or even less. Currently bitcoin price is at $116k range, it’s actually a good one knowing how the price can just rise in few hours at anytime besides August is still early possibly the history will be different. Yes, it is true that it is not possible to say for sure how much the price of Bitcoin will increase. However, we expect the Bitcoin market to increase a lot in the future. It is difficult to say whether Bitcoin will be able to give us a new ATH this August, but we expect it to be in a good range. The current price of Bitcoin is $119k from which we are optimistic that it can create a new ATH very soon. |
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Listed companies are usually holding Bitcoin to make a profit. If you look at the Bitcoin growth chart, you will clearly understand how much Bitcoin has grown since its discovery until now. Bitcoin is growing every year, and where investing in Bitcoin can yield many times the profit, why would companies not invest in Bitcoin unnecessarily? Companies have started competing to invest in Bitcoin, usually to make a profit.
Yes, you have made an important comment. I agree with your comment. I think listed companies are holding Bitcoin with the aim of earning high profits. If we do research on Bitcoin, we will see how much Bitcoin has grown since it was created. It is possible to make a profit by investing in Bitcoin, the way Bitcoin is growing every year, I think listed companies will hold it with the aim of earning good profits from it. |
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Over the years, Bitcoin have always proved to be the most valuable asset among others in the crypto space and no other comes close. And In the case of having little money to invest with isn’t a problem at all once it comes to bitcoin investment, you mustn’t buy all the coin, as the DCA method of accumulating bitcoin is to enable you accumulate bitcoin little by little either on a weekly or monthly basis using just your discretionary income no matter the price of bitcoin. Invest now and be consistent in your accumulation and hodl for the long term goal and gradually build up your portfolio.
Yes, it is right now that Bitcoin has become a very valuable asset, so I think investing in Bitcoin would be appropriate. Even if you invest with a small amount of money, it will be good for you. I think buying with a small amount of money will give you more profit later. The opportunity to invest in Bitcoin for the long term seems to be now, so you invest in it and gradually build your goal. |
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Gambling is not a bad thing, gambling has it own positive and negative sides, depending on the context and the person involvement. Gambling isn't only about losing, it also have entertainment value which is on of potential positive aspect of it, some people see gambling as a form of entertainment as in they stake bets on casino, or sporting just for fun. Gambling can also result winners which many people might see it as financial benefits which is another potential positive aspect of it. As for me I don't only look at the negatives side of gambling I also take a look at the positives side too, normally I take gambling as form of entertainment and not the other way round, that's why when ever I lose money in gambling I don't panic because am gambling for fun and with the money I can afford to lose.
Yes I agree with you you have made an important comment. Gambling not only leads to destruction, but it can change people's destiny. But it depends on his personal affairs. If someone gambles for pleasure then that will be a good thing for him., The bad side of gambling can be addiction and lack of self-control. There are many people who are currently gambling online from which they earn money but I only gamble for my pleasure. Although most of the time I win by the stroke of luck, I control it. I gamble with as much money as I can afford to lose. From my point of view, although gambling has some good sides, its bad sides are more. However, if someone can control his emotions while gambling then gambling is good for him. He gambles for pleasure and can earn some money from it, considering this aspect it can be said that gambling is not wrong. |
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Surely the intricate question must have crossed your mind; what does the future of Bitcoin look like?
With the current advancement we have reached in bitcoin market value, acceptance and applicable use on different areas of the economy coupled together with how institutions are adopting it's use including governments, everyone considering bitcoin because of the promising future it possess, the security and privacy are also something we can write about, it's inflationary edge over the economy and how it's turning to be a globally most recognized crypto asset, we can say that bitcoin is the mainstream we all have been waiting for, the solution to having financial freedom and profitability. We have been watching Bitcoin's growing acceptance for a long time and are very excited to use it. The way it is gaining global acceptance, it seems that users are looking forward to it going mainstream in the future. We are optimistic that it will give us complete freedom and we are more than happy to benefit from it in the future. |
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Bitcoin will not eliminate banks, because the function of Bitcoin itself is to serve as an alternative to the current banking system. Additionally, banks still play an important role in society, such as providing a place for savings, handling local transactions, offering financing, and more. This means there are still many features of banking that cannot be fully replaced by Bitcoin. Governments also do not appear to support the idea of Bitcoin replacing the role of banks, which is why the use of Bitcoin remains limited and is not recognized as a fully legal means of payment in most countries.
Yes, it is true that Bitcoin is not recognized as a means of payment in most countries. However, Bitcoin should not be compared to banks, but to a fitter, I think it can be used as an alternative. Although banks currently play an important role, they have some features that cannot be completely replaced by Bitcoin. |
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I believe many of us here already know that gamble is for entertainment/short pleasure which is why many of us do it but it's obvious how some also gamble to make money through it. However there are some successful gamblers but truth be told that winning depends in luck, when you are not lucky you won't win. Many of us have seen gamblers that are addicted, that's why we gamble responsibly so we don't become addicts to it.
Yes, I gamble regularly, but I gamble for fun. I don't think I'm addicted to it because I gamble responsibly. There are many gamblers who are addicted to it and can't control it. Then there are some gamblers who see it as a means of earning money. As a result, they cannot improve their finances in the future and focus on their careers. My message to all gamblers who consider gambling as a source of income is that it depends only on luck. If you are not lucky, you will not win. So my advice is that you gamble for fun, not for financial gain. If you cannot control it, you will lose a lot. |
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Don’t rush into trading without sufficient knowledge and skills. Otherwise, all your time and money will be wasted knowing trading requires long-term preparation prior to entering real trading. Know that trading is certainly hard and risky, now if you start trading with lack of knowledge and experience in the market, you are not minimizing your losses while trading but in reality, you are only increasing the rate of risk you are going to suffer while you are trading.
Yes, I agree with you. Those who want to do new trading must move forward with a specific target. And what goes without saying is that the most important thing is to gain sufficient skills and knowledge about it. If you want to trade, you must learn to analyze, otherwise your risk will increase. If you want to be successful in trading, long-term preparation is definitely very important for you. I think that if someone starts trading without knowing the details about it, he will always lose money. So my advice would be that you do not rush and move forward at a specific time, then maybe you can do something good. |
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Everyone with the way they understood the word "trading", you may have all the necessary knowledge and information about trading because you belong to a community that share common knowledge and understanding together, with this you now had a clearer picture of the feature of trading which has now sink into you to know the benefits and not benefits of trading. Of course those who aren't belongings to this body's may not understood it that way or even visualized it the way we do here, therefore could likely take it as a well formed system to easily earned money or becoming successful in life without knowing there are principles and prize to pay before they should be able to enjoy the benefits of trading.
In my opinion, trading is a means of moving forward in life. From here you can make good profits in the future if your position is good. If you make a distinction between trading and a job, I may not know how people will differentiate, but here I will give more importance to trading. I think it is very good to be involved in trading, you will get the opportunity to earn a lot of money through buying and selling. There is no guarantee of trading, but if you can evaluate it correctly, it will be a financial tool. |
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