I'm not surprised with this development, centralized services will do anything to look trustworthy in the eyes of their customers but we know all they're doing is just marketing and don't actually care about their customers. Proof of reserve my foot, the only time I'll believe a centralized exchange has a proof of reserve is when their reserve/insurance fund are in Bitcoin and held in a multisign offline wallet which they'll sign a message including the Bitcoin address which can be verified by everyone and we monitor the address constantly.

Without that anything they say isn't worth believing. Moreover why would they hold insurance funds in their native token. Obviously they're doing so for them to easily manipulate the price (of funds said to be in reserved). No centralized exchange should be trusted irrespective of how big they're. They're here to make money and they'll lie, deceive everyone until they finally get exposed and exit scam just as FTX did.

For newbies that'll come across this thread, if you still have coins on exchanges, get them off right away. Exchanges aren't wallet to store your coins with them and don't believe whatever excuse they'll give to make you believe they'll look after your coins. Take the security of your coins as your personal business and store them offline in a hardware wallet.

In this case you should trust what people are saying about using electrum because it's the best Bitcoin wallet (been online since 2011) after hardware wallet. If you don't have money for hardware wallet you can use Electrum but as you expand your Bitcoin stash, it'll be better to move to a offline hardware wallet. Electrum has been used by many members of the forum and it has been confirmed to have everything been said about the wallet. It's very easy to install and to navigate yourself around the wallet. But in general don't trust everything you see on the forum and just because people are talking about it doesn't make it valid, do your research because the forum can have lots of misinformation and when you blindly follow what you read, you might end up in a regrettable situation.

• First and foremost, it's a non custodial wallet, so you're incharge of your coins (private key/seed phrase).
• it's an open source wallet and has a reputation of been trustworthy (been online since 2011)
• It supports multi/change of addresses features which increase anonymity.
• It supports Replace by fee (RBF) feature
• It supports Segwit address.
• it support customization of fees and not having a fixed fee.

This are just few reasons why it's better than others and where other Bitcoin wallet matches electrum in everything then its reputation of been online since 2011 gives it more superior points above others as they're new in the game but electrum has been offering Bitcoin wallet service for more than decade without any setback. Electrum though is an online wallet so other precaution need to be apply to protect your coins like using it only on an airgapped device.

She guided you on the right path by introducing you to the forum, here we have very experienced users that'll guide you on any things that you're yet to understand about the industry so don't be shy to ask questions and when you get respond don't concentrate on how the message was pass but get the message and use it to your benefits. Considering the way the fiat cureency is getting disvalue everyday, investing in Bitcoin is the best hedge against inflation because not only does Bitcoin gives you protection to your wealth but it also add more value to it as your money keeps growing when you Invest in Bitcoin. The forum is very easy to use as if you don't break any forum rules you won't have any challenges so listen to what those above have said as they must have directed you to some rules and regulations thread while they were welcoming you to the forum.


The forum has millions of users (although most account are inactive) so obviously most username that you would have thought of, someone else might have thought of the username before you but Incase of next time you encounter such challenges on other platforms, just add few extra numbers or alphabet and you'll get cleared. As you have indicated interest in investing in cryptocurency, I would recommend you start with Bitcoin and stay with Bitcoin and you won't regret it like most of us did when we didn't take investing in Bitcoin seriously but were deceive by the way altcoins marketed their products and we found out the hard way that they're all full of garbage. After investing in Bitcoin, take the security of your investment very personal by buying a hardware wallet or using a non custodial wallet and not leaving your coins on exchanges or custodial wallets.

When I read news about things like this I get disappointed because our advices isn't getting across to this people, we shouldn't be investing more than we can afford losing into the market. I don't understand why people don't get it that the market is a volatile one and an unregulated market so anything can happen at any time and as smart investors we should be ready for whatever happens. We should have backup plans for when things don't get as we planned because that's something that's associated with the market. If you know you can't hold through all the bear market then sell your coins after the bull market has reached its peak potential and the market is declining. If you invest only your spare money as it's advice or money that won't be needed for a very long time, you won't be affected by this also if you Invest in Bitcoin and not chasing those overhyped altcoins you won't be bothered when the market is crashing because you'll be guaranteed of an increase when the market recovers form your Bitcoin stash.


This is a good advice as we should be our brothers keeper but we should also take care of ourselves and not wait on others to check up on us. Investing with the right guideline will help us avoid getting ourselves in situations like this. Don't put all your hopes on the market, diversify your portfolio and this isn't about investing in altcoins but check out other investment opportunities so when the crypto market is experiencing some bearish period you don't get devastated because you had all your investment in cryptocurrency. After the bear market, there'll be a bull market and vice versa so you shouldn't be that depressed because the market isn't going as you wanted.

Trading has the risk of financial loss which should means it's not something everybody should be doing unless you have the experience to defeat the market. Trading are for those that want to make short term profits and not investors. The volatile nature of the market makes trading not the ideal way to invest in the market, we should become hodlers instead of traders. Holding has proven to be the most reliable way to invest in Bitcoin as those would hodl gets the biggest profits from the market. We have more traders that are losing than those that are having a successful trading career. People are just joining the trading trend without getting any results. They think trading gives the most profits because the so called social media experts say so. You're at the risk of losing your coins each time you trade and it shouldn't be an activity newbies should be engaging with.


Or better still, to avoid all those danger, we should be Hodling instead of trading. When you're not in the market trading, you won't put yourself in those dangers Hodling has more Pros than cons but the same thing can't be said about trading because trading comes with so many side effects. Financial loss are just one of the side effects as we have other effects like mental health and other things. As a newbie if you don't have the knowledge on trading, don't bother going into trading because it mightn't be worth it instead accumulate Bitcoin and HODL.

Gold is a precious metal and precious metals aren't been invested into again as we did before to make profits but to secure profits. The price of gold isn't as volatile as the price of Bitcoin so the possibility of making high profits aren't there but you can be guaranteed that when you buy gold, your money will be secured for the future. Gold had its moments and it was during the Gold rush days that's when if you had invested in gold, you'll be making high profits but not today. Now we're in the Bitcoin rush days and if you want to make profits you have to buy Bitcoin. Investing in gold gives your investment stability since the price won't be volatile and your investment in gold gives you an edge against inflation.


This is why investing in Bitcoin is highly recommended because Bitcoin can give you high profits and still be used as a store of value. Bitcoin has more pros then cons compared to Gold. Gold is physical so it'll be more difficult to move or transferred around but Bitcoin is digital and requires little to no effort to move around. Bitcoin is easier to invest into as it's decentralization and can be done from the comfort of any place but gold can't unless you want to buy just shares of Gold and not the real Gold. Bitcoin doesn't only give your security of the wealth but profits in a short time, Bitcoin has been outperforming gold since its introduction to the market as well.

I'll actually love that (if it can happen so I can lecture him on some things he need to be doing right). The industry isn't a centralized one and although we'll always have centralized service operating here but, they don't have to monopolized the industry. Cz is obsessed with power, buying wallets, smaller exchanges, ranking platforms and shutting down other centralized exchange (FTX) all for his own benefits. He's bringing everything I hate with the centralized system of the few wanting all the power into the decentralized world. He needs to stop before the industry losses its all decentralization. People like CZ are bad businesses to the industry and if we support him, we might have nothing left. I appreciate his contributions to the growth of the industry but that's all.



You'll need a laptop because that's also one of the best ways of storing your Bitcoin, using mobile isn't the best. Don't sacrifice your privacy for comfortability. As beginners you can be excused to use some of the centralized services but as you mature and make some profits from the market, you should get yourself a laptop so you can get full access to the decentralization of the industry. If you stay with just mobile that means you'll be using your mobile as your wallet too and that's not safe.

DCA isn't a strategy for only low income earners as both high and low income earners can take advantage of the strategy to accumulate Bitcoin until they have bought enough to their satisfaction. DCA is more effective when you have a constant salary so you can repeat your purchase repeatedly like weekly, biweekly or monthly depending on your budget so make sure you don't force anyone into following the strategy when they don't have jobs that pays them salary. Everyone is speaking about DCA but not many of them are applying the strategy. You can invest in Bitcoin with a large sum at once or DCA and still make profits so it depends on your budget.


Don't invest everything you have into Bitcoin, we're meant to have emergency funds that are to be used when we have emergency. This is also why DCA is recommended because you won't be investing everything you have in Bitcoin but a small percentage so you still have money left to take care of other things. Money invested in Bitcoin shoudn't be touched unless in a scenario when your emergency funds are exhausted and other backups has been used up. Even after sorting that problem out by selling your Bitcoin, next month reduced the percentage of your income you invest in Bitcoin and allocate more to emergency funds because we are suppose to invest money we won't need urgently in Bitcoin so we can hold for a longer duration.

Trading doesn't require a minimum amount of coins, there's no minimum amount as you can trade with any amount but if you're using an exchange that's when you'll have to deposit money based on their deposit minimum of that exchange to trade. You can trade P2P directly without an exchange and you won't need a minimum deposit. Neither trading or holding needs a minimum amount of coin but to make profits you have to decide which amount you'll use to trade because the higher the amount, the more opportunity to get more profits when trading. Both Hodling and trading are guaranteed ways of making profits from Bitcoin but holding holds more pros then cons and that's why we're advice to hodl. You're stressing yourself when you trade when you could have just hodl and make profits.


Shitcoins are to be avoided by all means, they should neither be traded or HODL because they bring nothing but losses. If you're trading them, you have to be very careful because their prices are more volatile and they're been manipulated by whales for their gains. Only trade or hodl bitcoin and you won't find yourself as a victim of the different scams that are becoming a frequent news in the industry.

Binance exchange isn't the best exchange in the world, it might be the most popular exchange but that doesn't make it the best. They're not the best in security, Binance exchange is a centralized exchange and when we want to trade P2P transaction, centralized exchange are not the best exchange we should be using instead we should using exchange that are decentralized.

If you want to trade P2P and enjoy full decentralization make use of https://bisq.network. You can make use of Binance exchange for your regular trading if you'll be comfortable submitting your documents for KYC but if you're not comfortable and value your privacy, you should make use of other exchange that don't require KYC for trading and withdrawals. We have many decentralized exchange that you can use and they can be found here; https://www.coingecko.com/en/exchanges/decentralized

Link	Category	Username
https://bitcointalk.org/index.php?topic=5469689.msg62966749#msg62966749	Scam Discussion	Orpichukwu
https://bitcointalk.org/index.php?topic=5469552.msg62969799#msg62969799	General Discussion	Broadanbig
https://bitcointalk.org/index.php?topic=5469277.msg62948572#msg62948572	Wallet Discussion	Hatchy
https://bitcointalk.org/index.php?topic=5469591.msg62961956#msg62961956	Health Discussion	Makus
https://bitcointalk.org/index.php?topic=5468434.msg62915020#msg62915020	Security Discussion	BIT-BENDER
https://bitcointalk.org/index.php?topic=5469403.msg62954786#msg62954786	Altcoins Discussion	Coyster
https://bitcointalk.org/index.php?topic=5469167.msg62943709#msg62943709	General Discussion	CryptSafe
https://bitcointalk.org/index.php?topic=5469167.msg62943861#msg62943861	General Discussion	Charles-Tim
https://bitcointalk.org/index.php?topic=5468743.msg62933299#msg62933299	Currency Discussion	Franctoshi
https://bitcointalk.org/index.php?topic=5469112.msg62941380#msg62941380	Altcoins Discussion	Amphenomenon
https://bitcointalk.org/index.php?topic=5469147.msg62950004#msg62950004	General Discussion	uchegod-21
https://bitcointalk.org/index.php?topic=5468743.msg62929206#msg62929206	Currency Discussion	Promocodeudo
https://bitcointalk.org/index.php?topic=5469468.msg62959724#msg62959724	Bitcoin Discussion	Sim_card
https://bitcointalk.org/index.php?topic=5468936.msg62941084#msg62941084	General Discussion	Agbe
https://bitcointalk.org/index.php?topic=5469240.msg62946619#msg62946619	Education Discussion	DubemIfedigbo001
https://bitcointalk.org/index.php?topic=5469240.msg62946689#msg62946689	Education Discussion	Richbased
https://bitcointalk.org/index.php?topic=5468979.msg62936757#msg62936757	Financial Discussion	EluguHcman
https://bitcointalk.org/index.php?topic=5469147.msg62955822#msg62955822	General Discussion	Franctoshi
https://bitcointalk.org/index.php?topic=5468443.msg62970265#msg62970265	Bitcoin Discussion	Davidvictorson
https://bitcointalk.org/index.php?topic=5469264.msg62947906#msg62947906	General Discussion	Salahmu

Ps: Bold = Best post for the week.

You dun talk wey my brother, and the thing be say many of us sabi all this things but where the money dey to they leave this kind life, the only thing wey we fit do na to reduce the way wey we dey take them as we can't do without them. They're the easiest and most affordable food for the common man and no wonder dem say, rubbish food dey cheap. Red meat wey we dey manage, wey be say with the least 1k you dun buy meat to use chop eat. How dem expect poor man to avoid them. I know e no easy but make we try too dey follow this instructions dem because e good for us. White meat get less cholesterol than red meat and na one of the reasons wey dem say make we avoid red meat (e get very bad cholesterol but many of us no go sabi dat one).


Aswr like now everything dun bad, I remember when dem been dey advise us to eat red meat but now na white meat be the next agenda. Abeg the cow dun stop to dey chop grass wey their meat no good again but Las Las we need to listen to them because them get point for everything wey dem dey talk but normally you no go listen finish as you go do stop where your money reach. Na dem went us to dey buy online fowl and turkey wey dey cost like wetin I no  know.

PS: This post no long chairman, this is okay for an informative post like this, there's nothing wrong with the OP been big, some post are for informative purpose and if the OP been add more information e no go still bad. Na reply wey supposed dey short and straight to the point although e no bad when you have meaningful things to say to always express yourself. OP you try wella and I go revisit this thread in future.

Make I throw small wisdom here because airdrop and free tokens na one thing wey no fit leave Nigerian body because normally we like free things and we dun see or hear story of people cashing out from this airdrop on a thing wey be say no be lie because as far back as 2017 wey dem Bitcoincash and gold dem come out, I receive airdrop and e been worth like better dollars dat time and we still do small airdrop task dem wey give us something especially when Binance exchange been come out come dey promote some small task to get their tokens and e later worth something. Wetin I dey try talk be say, dat time airdrop been dey pay well but this days many no worth am and no be all wey dey ask you to connect wallet to wey you supposed participate in. If you come see better one and you wan connect wallet, no use your wallet wey be your personal wallet, just create another wallets specifically for claiming airdrop and make I say you get the tokens, you fit come transfer am go your personal wallet. Even when you wan trade for all this decentralized exchange dem, get a specifically wallet for that purpose as well. You no dey buy online wallet so no fear to create multiple for various activities and get a personal wallet for your Hodling.


I no go blame anybody because we all grew up depending on people for our security and banks for your money so we too dey used to centralization already and others protecting us and na wetin make us easily dey trust those emails and other online ways wey we dey store our private keys and other sensitive information but make we try change because although we never too hear stories of them been comprised and Nigerians been affected but time go come and e go reach this side so make we dey avoid them and use method wey dey safe and easy for this side. Alot of recommended ways dey to store our private keys but the one wey dey too easy for us na writing them down on a piece of paper and that paper been protected like locking in a safe after laminating the paper or using an encrypted USD device that also has another secured backups like the paper go make sense.

Dem dey call am 9 to 5, that's job wey you go do from 9 to 5 but for Nigeria na 8-5 as job dey start officially by 8 and end by 5, anything else no be working hours and we no suppose dey work to those time unless you dey work for where e demand you to stay pass that hour. Minimum wage no mean say na wetin dem dey pay people, na just minimum like people no supposed get pay lower than that amount and most job dey pay pass like dat. You no need to kill yourself my brothers, if you dey do job wey you no like no talk say you go manage am oh, commot for that job because e fit be that job wey dey weigh you back from achieving your goals for life. Some jobs dey like bondage and their boss dey use juju tire everybody down abi you never noticed say e get people wey go change job and immediately their life go dey better.


9-5 dey everywhere my brother, e no get country wey you go go wey you no go see people dey suffer like this. The only better thing for their side na say their money get better purchasing power and dem dey pay dem well. Here dem no dey pay us well and our money no get value. Money wey dem pay you, you no go fit use am buy anything for market but their side you fit survive on your salary and feed well (do other things too). All this one na because say our economy no good which is due to bad governance. Self employment no easy oh, e hard because you need to work before you chop and your working self no guarantee your choppings unlike when you go receive salary irrespective of how you work.

Again if you read and understand my statement you'll see that I clarified that it's the circulating supply on an exchange. Buying and selling affect the circulating supply on an exchange and the circulating supply of Bitcoin currently is showing on coingecko as BTC19,508,837. Circulating supply can't be measured in fiat value but actually figures. The circulating supply mightn't be accurate as well because I don't see how possible it is to track all Bitcoin in circulation as some might be lost or not on the market circulating (as a result of investors hodling).

Buying and selling affect the circulating supply of Bitcoin on an exchange as when they're more buyers, technically more Bitcoin are leaving the exchange while when there's more sellers more Bitcoin are been introduced to the exchange.

And you're misunderstanding again which is why I said you should read well and understand before writing, not correcting whatever you wrote then reposting. You didn't understand the statement or didn't get the idea I was passing across. You don't quotes and correct what isn't wrong. I gave you an example as you wrote what wasn't entirely correct but I understood the angle you're coming from because I calmed down and read your reply and not just having a glance and immediately quoting to respond. Your statement of the house having the edge in gambling isn't entirely true for all gambling but I understood you're talking from an angle of a part of gambling and so is my response of the timing.

Next time calm down to read and not rush to respond and keep editing for reposting as you can edit without reposting. I don't enjoy writing in English on the local board so I'll stop responding on this thread as well.

Nope they won't be known, they won't be called private key if they will be exposed when you used them to authorize a transaction from your wallet. You're the only one that should know your private key and they should be stored offline.


They're gone forever and don't believe any service offering to recover your private key for you because they're scammers and in a situation they do recover the keys for you (very unlikely to happen) why do you think they'll send you back the coins?

Tips: When you mention this scams like dis, e for make sense if you give some tips and guidance on how we fit use dey prevent them. Also no think say everybody know every scam wey dey so, some fit popular but many of us no sabi dem and some of this scams dey come in different way but na still d same thing (but different format) so as you dey see the format make una dey share am and no dey assume say we sabi am.

For the Whatsapp own, make we no dey believe everything wey we see online. We supposed know say we dey country wey everybody dey try find their belle and sometimes dey no care weda wetin dem dey do dey call am hustle they hurts others, they're only after making themselves comfortable. I no just understand why people never realized say security measures dey to protect your WhatsApp number from been added to random groups by people wey you no sabi. Do this;

• Login your WhatsApp
• Navigate yourself go settings
• Navigate yourself go privacy, group.
• Look through the options and select your preference (only your contact to add you to groups

When you do am like this, only your contact fit dey add you and random users no fit add you to groups. Preventing this guys from adding us to random groups go well because scammers dey for those groups and dem fit get your contact come your DM.

The rest has been discussed and if na you fall mugu na you do yourself because why person go call you say him from your bank and in this 21st century you go believe am. Dem no even use all those bank special code call you and you still dey believe them, this one no mean say if dem use special code make you believe oh. Bank no dey ask for sensitive details on phone, take note.

Simple reason; Demand and supply. Both buying and selling happens when the price of Bitcoin is increasing and when it's decreasing but the difference is that when the price is increasing, there's more of buying going on and when it's decreasing, there's more of selling going on.

The action of buying and selling can actually affect the quantity of Bitcoin available on the market because the more we have more people selling (a larger quantity of Bitcoin will be available on the market) but when we have more of buying going on, they'll be reducing the quantity available for trading as more people are buying.

Buying and selling doesn't affect the fixed supply of Bitcoin but it affect the circulating supply. Just understand that selling = more people bringing their Bitcoin to the market (which increase the circulation supply on exchanges).

And you're still misunderstanding as I noticed you're editing and reposing your replies multiple times and I received notifications each time which means you're correcting whatever you previously wrote. Maybe you should understand the sentence well before replying as mistakes can be made in spelling (not intentional but due to auto correction) but if you pay attention without rushing to reply you'll get what the person is trying to say.

Again your statement of a P2P gambling site been online regardless isn't responding perfectly to my statement of we having a P2P gambling site. I made that reply in response to your point below;

What I'm trying to say is not all gambling leads to you losses going to the site owners or share holders, we have decentralized gambling and it's growing just as online gaming/gambling grew to the multi-million industry it is. The point isn't about gambling been online always but about where the losses goes to.