[there is no such thing as getting rich quick]

The issue of getting rich quick isn't something that many adopters take seriously, as they've come to believe it is the only way to make a quick profit. It still saddens me to see that some adopters in our community have taken the wrong step towards Bitcoin investment.

I recently stumbled upon a guy few days back who happens to be a anti-bitcoinist. He showed his frustration and condemned Bitcoin in a way that got my attention. I was eager to know why someone would have hatred for a life changing opportunity like Bitcoin, so I had to ask.

From his reply, he said he came across a Bitcoin mining website that was shared via a YouTube video. The mining site mines Bitcoin in small quantities, which he decided to buy some mining power to accumulate faster. He successfully purchased one of the mining power worth $80, but the site eventually shut down a week later without allowing any withdrawals.

His reply got me laughing because I quickly pointed out two things from what he said:
1. He was eager to get quick profit from an $80 investment but ended up getting scammed.
2. During my early days in crypto, I often came across these demo-like websites and have also fallen victim.

It was very clear to me that some ethusiast who promote Bitcoin don't talk about the risk part of it, while those who adopt Bitcoin on their own don't learn about the risk part of it.

I couldn't just leave him hanging with that mentality towards Bitcoin. I showed him some love by converting $10 worth of Bitcoin from my personal funds, sending it to him, and also sent him the BTT link so he can learn from a large Bitcoin community. I have done my part, and I repeat: there is no such thing as getting rich quick. I am glad he has joined the community, but wouldn't want to be mentioned.

Thanks for reading, and do well to share your opinion.

[Below are the few reasons why personal accountability is important]

As day and night keep occuring, hustling to meet our needs is not negotiable as long as we still have an interest in living. Whether working hard or working smart, the primary and secondary goal is to have something that can aid our survival at the end of the day. No one is interested in how you made your money, just get your basic needs and live your life.

Accountability happens to be an important figure that indicates how well everyone makes use of the resources they have in their possession. Don't be surprised that some people who earn very decent amount still struggle to survive due to the inability to give proper account of how they've spent their money.

Below are the few reasons why personal accountability is important
1. It fosters self discipline in the areas of spending. Accountability sometimes teaches us how to restrain ourselves from our wants.

2. It creates room for investment through wise decision making. In this scenerio, we often consider investment rather than squandering funds.

3. It encourages the regular checking of financial growth, which help us to monitor our earnings and expenses.

4. It builds financial confidence in hustling continuously.

How to practice financial accountability
1. Be truthful to yourself. Certainly, no one knows you better than you know yourself. Your decision to spend right is for your own benefit and not for others.

2. Have an innovative or conservative mindset. By having an innovative mindset, we tend to invest on our own ideas, while by having a conversative mindset, we tend to save our money like some Bitcoin hodlers do.

Thanks for reading through, and what are your opinions regarding personal financial accountability?.

The crypto space happens to be a very busy place with lots of information surrounding it. Digital form of money like Bitcoin happens to be the most popular among other coins. Interestingly, we've had series of video clips, written books, online materials and people's opinion that all explains every piece of information surrounding Bitcoin. Most of this information are generated from different source, but are meant to interpret same thing, i.e, every information about Bitcoin should be consistent regardless of whosoever is writing/documenting it.

When a none Bitcoin ethusiast is eager to learn about Bitcoin, it's is important for he/she to make proper research as a newbie. By making research, he/she would definitely come across online materials, videos and also people's opinion. At that early stage, it's very difficult to identify false information about Bitcoin due to unfamiliarity with certain terminologies. Sadly, this misinformation can stick and become part of the person. Misinformation can sometimes be difficult to erase especially when we've become top members in the Bitcoin community.

We sometimes come across altercation or counterattacks in the comment section of a particular post. we often see how crypto ethusiast tends to object to other people's ideology concerning Bitcoin. Certainly, one person is usually wrong during this every altercation. The tendency to keep arguing even when one party is wrong is as a result of the wrong information that has been processed overtime.

In conclusion, it's very important that we gather enough information by making our own research and also learning from others especially in a community like BTT. let's not be too quick to jumping into conclusion especially in topics that we are not familiar with. Your contributions are greatly appreciated.

[Introduction]

Introduction
In our today world, promotion has been a key contributor to the major success of almost everything that are on a verge to fulfillment. In other words, we can say that promotion has been the back-bone of several break-through. Whether direct or indirect promotion, it certainly have a way of raising curiosity that helps to attract large audience. We've seen it's effect on goods and services, music and movies, politics, etc. It sounds more true when we take a look at our place of residence and realize that almost everything we see went through a stage of promotion, from our home appliances to cooking utensils.

This is quite unclear in the case of Bitcoin. Some crypto ethusiast don't think that there is a neccesity in promoting Bitcoin, while others think Bitcoin promotion is very vital and should be encouraged. Sadly, the internet space has manipulated us in thinking that more than 50% of the world uses Bitcoin so therefore there is no need in promoting it. This sounds true, but we've failed to realize that the internet space is a cycle that holds a certain group of people with same ideology that differs from the ideology of those who don't use the internet.

I did a quick survey just around my environment. My survey was ideally meant to figure out those who have heard about Bitcoin and might possibly be a user in the future. I could easily draw my conclusion considering the fact that i know these people well. It turned out that 18/26 men, 25/31 women and 16/27 youths might not use Bitcoin in the future. My conclusions were based on internet illiteracy, ignorance, age, etc.

Ideally, the above factors shouldn't be a problem only if we find ways to raise the curiosity of a none Bitcoin ethusiast. We don't raise their curiosity by telling them the benefits that Bitcoin offers. We raise their curiosity by putting them in a situation where they will be force to ask what the BTC logo stands for.

Ways we can promote the use of bitcoin as individuals
The purpose of using this two methods helps to raise the curiosity of none Bitcoin ethusiast(NBE). These two methods are clearly indirect ways of promoting Bitcoin

1. Social media
Social media has been a huge contributor to Bitcoin. Current Information keeps running every seconds which keeps the Bitcoin community updated. The regular/consistent posting of Bitcoin related matters on a personal social space is a great way of getting the attention of others. In a space of one year, your neighbour who happens to be a friend on your social space would be force to ask about the BTC logo.

2. Our physical items
This is also a superb way of raising the curiosity of a none Bitcoin ethusiast. When Items like shirts, cups, stickers, etc contains Bitcoin logo, and it's present in major parts of your house/environment, it would certainly raise questions from the people around. Sometimes, it might happen that the none Bitcoin ethusiast isn't the social type, but when he/she continues to see something that isn't familiar, then curiosity is certain.

How do we educate those that are ready to learn?
Ideally, educating people about btc is also a way of promoting it. While educating, over exaggeration of profits should be exempted. This feels very exciting to do, but it shouldn't be encouraged. We must consider two aspect of discussion based on the criteria on ground. If the person who is willing to learn lives in a rural area, then Bitcoin investment should be fitting topic, but if the person happens to live in an urban region, then p2p and investment should be well discussed.

Urban areas is usually associated with certain commercial businesses that accepts btc as mode of payment, unlike rural areas where it is not common.

In conclusion
The promotion of Bitcoin should be strongly encouraged among Bitcoin community individuals. This would certainly help Bitcoin get to the grass root, both in rural and urban regions. These are clearly my opinion.
What do you guys think about Bitcoin promotion and other ways we can promote Bitcoin in our community?.

[@Lucius]

Good day to all the crypto ethusiasts. Today happens to be one of the most terrible day i have had for a long time now due to the power outage. I managed to boost me phone so I could check the visibility that my last post had gained. Sadly it wasn't what i expected. Here is the link to my last post - https://bitcointalk.org/index.php?topic=5480422.0

While scrolling to read through the comments, I came across a certain guy name @Lucius who wrote an accusation against me, stating that I used an AI to generate my post. I was so frustrated and embarrassed at what I saw.  Here is the link to his comment - https://bitcointalk.org/index.php?topic=5480422.msg63445109#msg63445109

I have worked as a content Creator on hive for over a year, but I decided to go for a better platform where my post can get more visibility. when I first got to btt, I noticed that long form of content were not common among the members. Most people just prefer to write something short. Knowing the platform I was coming from, I thought it would be best if I bring thesame effort and writing ability to this platform.

During my stay in hive, you don't even need members to catch you while using an AI. Their hivewatcher happens to be very smart and can detect any unusual activity.

It's so sad to see that @Lucius and few others don't see any potential in newbies. They believe that most newbies are dummy, therefore they can't write anything meaningful. He was quit surprised to see a newbie writing something meaningful, and had to contact an AI if the post was AI generated.

My plan this year Is deliver good content to the BTT community, but it seems my stay isn't welcome after all.

In conclusion:
I am really embarrassed at what I saw. I am willing to share my hive account username to anybody except @Lucius. By sharing my hive account, you can go through all my post and rate the quality yourself. I also have lots of contents to deliver but time hasn't really permit me. I don't know how accurate the ai detector is, all I can say is that my brain works well and i write good contents for living.

[Introduction]

Introduction
With the aftermath of the 2008 subprime mortgage crisis, which led to the collapse of the housing market, the need for everyone to start taking responsibility of their money became crucial. The usage of customers' savings by banks has limited the accessibility of personal funds in some parts of the world. Sadly, this is something customers can't address because it's officially backed by the government nationwide.

With the smart thinking of Satoshi Nakamoto, a form of money that gives everyone the responsibility to handle their finances was created. Bitcoin operates solely on decentralization, thereby not involving a third party in every transaction process. Money is easily sent to others with no fear of reversibility as long as there is an appropriate medium of transaction.

Over the years, Bitcoin has shown attributes of a commodity such as gold. The process by which they are acquired leads to a diminishing supply from the source, i.e, the more we acquire them, the more they are reduced from the source. A period of every four years is considered the halving event, where there is a cut in supply. Bitcoin's price gradually grows over the years through different halving seasons, marking the beginning of a new cycle in Bitcoin's ongoing price discovery.

Interestingly, the primary aim of creating Bitcoin, which is to serve as a peer-to-peer mode of payment, has become overshadowed by its ability to create wealth. Due to Bitcoin's occasional price increases, it has become a source of wealth creation for millions of people globally. The profits that can be accumulated are solely due to long term of waiting. Though, there are certain conditions that Bitcoin offers in order to serve as a wealth creator for anyone. They are...

1. Investment -
Investment is a major key factor in creating wealth through Bitcoin. There are basically two forms of investment: Money and Time.

Money: Certainly, Bitcoin itself represents digital money, so it requires another form of money to acquire it for personal use. With the volatility, we often buy it at different prices, which means that there is no stated price for it.

Time: Time happens to be another form of investment, especially for those who apply the trading method. They try to buy and sell considering how good or bad the market price is. These methods help to make quick gain.

2. Patience -
Bitcoin is never a 'get rich quick' scheme, which means that it takes time to make a reasonable profit from it. In order to create good wealth through Bitcoin, patience is also a key factor, especially when it's a long-term investment. Certainly, we have some holders who have been holding their Bitcoin since 2014/15/17.

3. Positive Emotions -
In order to create wealth through Bitcoin, it is advisable to maintain positive emotions. Ideally, we can get too emotional, especially when the price drops very deep and it feels like it might crash. Positive emotions give the courage to keep on hodling or trading no matter the market condition.

In conclusion
There is no such thing as free money. Creating wealth comes with a cost, which means creating wealth through Bitcoin also comes with conditions as mentioned above. There is no such thing as getting rich quick.

Thanks for reading...

With the continuous study of Bitcoin and all its related terminologies, we realize that we all learn the same thing but understand it from different perspectives. Recently, I have been able to figure out 3 interesting tips that are well associated with the Bitcoin halving process. I thought it's worth sharing...

1. Miners have years to plan for the halving, which means they are given the chance to readjust themselves to see if they can continue the mining task. Certainly, profits might not be guaranteed, especially when working as a solo miner. Thanks to @Charles-Tim, who explained how solo miners work in my previous post, I gained valuable insights.

2. Halvings are pre-programmed events that work when a requirement is met. The completion of 210K blocks, which takes approximately every four (4) years, initiates a protocol that reduces the block reward by half.

3. Bitcoin is practically referred to as a commodity, which shows similar characteristics to gold. The process of acquiring either of them will definitely lead to a reduction in supply; i.e., the more we mine, the more they are reduced.

Interestingly, Satoshi never stated a reason for implementing halving in Bitcoin's protocol.

And I am sure you would be looking forward to checking Satoshi's white paper. Your contributions are welcomed, have a blissful day ahead.

[Introduction]

Introduction
In the ever-busy world of business, profits and losses are key components experienced by those in it. However, from a very tender age until this minute, I have not come across anyone who chooses to make losses. Certainly, everyone loves to make profits through any means possible.

In a case where I happen to be the only one that sells a particular brand within a region or state, it is expected of me to make profits. But if there are other competitors that sell the same brand as me within the same region, the tendency of making profits is likely not to happen due to the competition.

I tried to apply a similar scenario to Bitcoin mining. We all know that several miners around the world compete to solve a difficult mathematical problem, which aids the creation of a block. After the successful creation of a block, the miner is rewarded with some Bitcoin. Sadly, I can't tell the exact number of miners globally, but I think their population is enough to make the reward process very tough.

Questions
1. With the large population of miners around the world, could every miner earn a reward at least once a month?
2. If it's impossible for every miner to earn at least once a month, does that mean that mining is not a profitable business?

Note: I am asking these questions based on a miner's perspective, considering the cost of power supply consumed and the fixing/replacement of faulty mining machines.

As of 26 December, while others were celebrating Christmas with various activities, Microstrategy were celebrating theirs with further addition of 14,620 Bitcoin which worth $615M. Since their start in August 2020, Microstrategy has bought a total of 189,150 BTC. It's certainly uncertain if Michael Saylor is slowing down soon, given his understanding of the importance of long term investment in Bitcoin. Microstrategy's current Bitcoin accumulation worth over $5B, which guarantees a very good profit in the next Bull market and beyond.

Despite all this positive news, I suggest we shouldn't get carried away. Microstrategy has introduced a strategy of continuos purchase of Bitcoin. Why don't we do the same. As respective crypto ethusiast, continuous accumulation is also required, no matter the amount.

What do you think?

[HODL]

Good day, distinguished crypto enthusiasts on this forum, and a Merry Christmas to those who celebrate.

Recently, HODL has been running through my mind, and I definitely understand that most people consider it to be the way forward when planning on investing in Bitcoin. It is a method that can amount to good profit, especially when the period of holding is lengthy.

As 2024 approaches, two major events awaits us: The Bitcoin spot ETF approval and Bitcoin halving, respectively. with the occurrence of these two events, there is certainty that the market would be affected in positive ways, thereby seeing impressive pumps. The situation might also go the other way where the unexpected might happen.

Question: With the coming of these two major events, assuming the price of Bitcoin turns out to be very impressive and massively different from today's current price, will the majority of Bitcoin holders keep(continue) holding?, or might price temptation just result in them selling to make a profit?.

Thanks for your time.

Becoming your own bank wouldn't have been possible, until Satoshi Nakamoto can up with a brilliant idea. Third party interference has been a major issue affecting those who are not part of the governmental system, making them feel almost less important especially when it comes to accessing their own deposits.

Been your own banks literally gives you the same authority that financial institutions (banks) posses, such as:
1. Sending money to anyone around the world with out intercountry restrictions.
2. Sending any amount unlike banks that gives limit
3. Acting as a third party in approving your own transactions, etc.

The volatile nature of this form of money makes it a suitable investment option for those that believes in it. Interestingly, price increase and price decrease are both different opportunities that favors it's users. When the price goes up, those in possession makes  decent profit for themselves depending on how much they bought and how many they've acquired. When the price drops, people sees it  as an opportunity to accumulate more. I would say that Bitcoin is indeed a marvelous piece of art.

Is there anything more interesting than becoming your own bank, approving your own transactions and also enjoying both the positive and the negative price aspect of the currency ?. What more can be magical than this ?.

[Bitcoin halving]

Bitcoin halving has always been confused for crypto burning most especially by those who are new to the crypto space. If not carefully looked at, Bitcoin ethusiast might even fall in the same situation the very moment the two words are mentioned.

I would start by saying: Bitcoin halving is practically a mechanism that helps to reduce/cut the rewards of miners, thereby reducing the amount of bitcoin entering into circulation.

While crypto burn is a mechanism use by other cryptocurrency in reducing the amount of their digital asset already in circulation.

The two main phrases in both definition states the big difference between them. Halving helps to reduce what's entering into circulation, while burning helps to reduce what's already in circulation.
We should note that halving is an automated mechanism that would occur when every 210,000 blocks have been mined. It is practically used for bitcoin. While burning is intentionally done by the developers of that particular coin.

Though, they both have little similarities such that: both mechanism helps to activate scarcity. After burning, there are possibilities that the specific coin would increase in price or not, but what do you expect when there is scarcity ?. The same goes for Bitcoin halving.

If as a reader, you clearly understood the difference before coming across the post, then you should note that there are others that might have always confuse the two words.

My opinion...

[HODL]

I perceive that most of us have forgotten or should i say don't understand the concept and the primary purpose of Bitcoin. I had to made this conclusion after reading several post from different communities including Bitcointalk. Most post I read were meant to promote the use of bitcoin, but failed to apply the primary concept.

Interestingly, almost every bitcoin promotion article we see today contains HODL, Investment, Bull Market, 2024 Halving, etc, but only few talks about the basics.

You must be wondering what the primary concept is all about ?. The bitcoin white paper which was released far back had the answers to what bitcoin was primarily meant for. The heading of the white paper  stated Bitcoin: A Peer-to-Peer Electronic Cash System. While reading through, the writer's primary intentions was to fix the issue of third party transactions, by making Bitcoin another form of transaction entirely. The most interesting part was how the writer explained vividly how the transaction would work in relation to security matters.

HODL, bull market, etc isn't bad, but how many of us still talk about using bitcoin as a regular medium of transaction ?.

Don't get this wrong, I am not against HODL or others because everyone deserves to make profit. but if everyone chooses to hold, then how do we promote ?, Just by using our mouth ?, Who believes what is not seen ?.

I think we are very lucky with satoshi's brilliance, but sadly, majority now consider bitcoin as an investment only, which makes me wonder if Bitcoin is still a p2p electronic cash system.

My opinion...

[HODL]

As a neophyte to the Bitcoin community, asking questions shouldn't be a thing to be shy of.

I have come across series of articles/post, and I have noticed how HODL have been genuinely encouraged. The bull market which is also talked about in most articles: happens to be a condition of the financial market where there is certainty that the price of Bitcoin and others might be positive.

My question goes to the bitcoin holders and those who have gained experience.

1. Why do most people anticipate for the bull market when they clearly encourage HODL ?.
2. What happens when majority of the bitcoin holders sells a larger portion of their bitcoin during this bull market?.
3. What happens when only few chooses to sell little portion of their bitcoin ?.
4. And lastly, how will question 2 and 3 reflect on the market ?.

If you find the questions too much, please do well to answer the ones you know. I would love to read lots of opinion.

I assume when you see this topic, the first thing that must have come across your mind is to figure certain errors in my post, but make we try dey rest for once so that we go fit reason sum kind matas as naija people. Bitcoin for everyone no mean say I get anyone to give you, na how we fit help out fellow citizens b de reason for this post.
The economy done bad, which everyone of us are quite aware. Millions of Nigeria youths they out there they strive and still nothing to show for it. Online financial platforms don dey available for piple to dey make money. This platforms done turn some youth to self independent people.
Another interesting way of having something to live for is the accumulation of Bitcoin and other crypto currency. We can all attest that this has also helped several youths among us.

But the sad thing is that, there are certain people who choose to hold financial information to themselves instead of sharing it with the people around them. This issue has become the common habits of Nigerians which has increase greediness among us.
Watin e go cost me if I tell you where I dey get my money ?, As long as I no put hand for bad thing, then I suppose fit give reasons to anybody why I dey buy some cryptocurrency.

Money na watin we no go fit chop finish, na just information, pass it to who so ever is interested. It's better to share a financial information than to help someone financially. And note, it's not by force, so don't force anything on anyone, but only those who are interested.

Abeg make I hear from una too and happy Sunday...

[So what's your opinion ?]

It is interesting to know that large number of Bitcoin and none Bitcoin holders are looking forward to 2024/2025. This is the year which so many experts has predicted to be the halving season, where price of Bitcoin will definitely hit a higher price due to scarcity.

You must be wondering why none Bitcoin holders are also looking forward to that same year,... Well it's because of how effective Bitcoin price will be to the crypto market entirely.

In other words, Bitcoin has the power to make a great price impact in the crypto market in general, which makes it the father of all.

So what's your opinion ?

[So my question for us today as Nigerians, Should we wait or take a bold step ?]

With the current situation happening in Nigeria, we are not even sure if things might get any better soon. Dis mata neva stil clear for some piple eye, bcus dem fit dey see food chop everyday.

It is interesting to know that some people have realized that the government can't do anything for them, which has made them to take tough decision by striving hard to meet their personal needs.

So like this, some people dey wait, while others done take bold step to save themselves from this financial crisis.

So my question for us today as Nigerians, Should we wait or take a bold step ?.

[Binance]

Securities and Exchange Commission, popularly known as SEC, recently filled a lawsuit against Binance for violating federal securities laws. This made Bitcoin price declined by almost 5%, one hour after the allegation was filled as at june 5th.

As at this morning, while checking Bitcoin chart, it is currently $25.7K. The funniest part is that lots of Crypto and Non-Crypto experts had all made predictions of a pump in price.

SEC can't just stopping firing at all exchange companies they suspect fishy activities. Don't forget that Coinbase and Coinme are also victims, and there court case is still active.

Do you think SEC's lawsuit case will create more damage to the BTC price ?

Is it possible for all crypto exchange companies in the US to avoid SEC's trouble ?.




You can check further stories via New York Times -https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html

[Is it possible to recover any digital currency like Bitcoins and others after sending it to a wrong address ?]

So after a long series of argument today between a friend of mine and myself, we decided to take the question to various platforms for clear response.

The argument was about, Is it possible to recover any digital currency like Bitcoins and others after sending it to a wrong address ?

My friend actually thought it would be possible, but i tried to explain that it is not possible due to the decentralized structure. So my fellow users, please help us clarify this doubt.