Taking loans or borrowing to fund unnecessary stuffs is not a good idea anyone who does that should think twice and retrace their steps, it would be more profitable if you take loans to invest in a good business, atleast you could make profits and clear your debts and not on using borrowed money to fund unnecessary items or lavish lifestyle, I attracts embarrassments when you're unable to pay up.

 Just like my dad use to advise my mom when she's thinking of taking loans from friends , he'll always say taking debts is not good, whether the lender is your friend or close family, he also mentioned that a debtor is like a slave to the lender and the person who lends could treat you bad or embarrass you in public, which is the damage of image mentioned by George John.

 I've witnessed people quarrel and fight over an unpaid debt and it's so embarrassing and I won't like to see myself in such situations therefore I'll always avoid anything that could make me be in debt to anyone and even when I'm in debt, I try to pay off on time so as to avoid unnecessary embarrassment that could've been prevented.

It think it all depend on the level of trust between one and their lawyer, there are still good trusted worthy lawyers that are genuine, and still carry out their duties according to the oath they took upon their call to bar, but lately the heart of men (man/woman) is becoming very deceitful, so it would be quite difficult to trust any lawyer with that currently.

 Well, I agree with the idea of a saving box but to be specific not the regular local saving box but a safe that has a code in which you can safely store documents including the password which could be handed to your next of kin but not by your lawyer cause the lawyer may still send robbers to invade the house and penetrate the safe.

 I don't even think such information concerning the safe should be entrusted to everyone in the family cause in every family there's always a bad sheep that would always kick family laws so it should be given to a trusted person who could either be your wife if you're married, next of kin or mother if the next of kin is still a child.

I remember when President Bola Tinibu made mention that they'll increase the tax net, let the net get bigger and take in more taxes, every thought he was joking, I think this is just the beginning, they're aware that people would complain and there would be protest here and there if they directly imposed more taxation on every citizen so they decided to use different methods of doing so.

 This is very unfair to citizen it's not going to help our country in any way, were currently undergoing economic crisis, people could barely feed three square meals currently and all they could come up with is a form of extorting money from citizens all in the name of Cyber security levy instead of looking for ways of boosting the economy, attracting more foreign investors and increase the salaries of workers.

 Normally the main purpose of taxation is to generate revenue for the government to use in providing a stable economy, build infrastructures, create job opportunities, help finance government and public sector but in our country it's the other way round, majority of people in the government sector steal public funds and leave citizens with peanuts to survive with.

Round 1

Re: Investing in Bitcoin will bring you hope and gambling will leave you destitute.
Category: Opinion
Board: Bitcoin Discussion

Re: Cryptocurrency trading terms and meanings
Category: Good Reply
Board: Economy/Trading Discussion

Re: When will Michael Saylor and MicroStrategy sell BTC?
Category: Good Reply
Board: Bitcoin Discussion

Re: If being a graduate is the key to being wealthy, why are there poor graduates?
Category: Opinion/ Technical Question
Board: Economy

Re: Bitcoin and its impact on my life: A journey to a better tomorrow.
Category: Good Reply
Board:Bitcoin Discussion

Yes they're the major users of dollar and are trying to manipulate people into believing those exchanges are at fault, so everyone would think the cryptocurrency is crumbling our economy but that's not true, only the ignorant people who have no idea about Cryptocurrency would believe such. Our government is bad and I won't think twice before I believe they're the ones manipulating it all.

 For instance during the previous election when the former CBN governor made Naira scares before the election to avoid vote buying some politicians seeked another alternatives and started distributing dollars to selfish citizens and Inec officials, that alone is capable of devaluation of Naira against dollar. But yet none would be held to give account for that

 What they're forgetting is that no government would last forever, their own tenure would pass and a new government would come in, we might suffer this for a while but it won't last forever. One thing I love about Nigerian youths is that we'll always make a way for survival and I just hope the new government would be Crypto friendly and appoint sensible officials especially in the financial and economic sectors.

 I came across a vídeo on the media, involving the former deputy Governor of Ekiti State (Biodun Olujimi) who's currently the Sen representing Ekiti South. the vídeos i saw is a plenary meeting of the senate concerning the regulation of Cryptocurrency but what got me very interested was a speech  made by Sen Biodun.

 "Mr president there's really not too much to say about this. We didn't creat Cryptocurrency, and so we cannot kill it, and we cannot also refuse to ensure that it works for us. Definitely they are not like us, me i am used to tangible medium of exchange, i carry my cash in my pocket like bait, but the world has gone so far Mr president, and this children are doing great business with it, they're working everyday on their laptops, on their phones and they're getting results and Nigeria cannot immune itself from this sort of business and, what we can do is ensure the space is regulated in such a way that bad people cannot use it. What we didn't create, we cannot fully regulate but we can manage it and i believe that is why this motion is really important, the time has come for us to be able to harmonize all the issues concerning Cryptocurrency and have a proper way forward on how to manage it and manage our youths".

 I was really amazed by this speech and I'm happy that despite the bad government, there are still sensible people among them, that would always kick against their wrong act towards frustrating the youths. What impressed me about her is that she acknowledged the fact the youths are really working hard and getting results out of Cryptocurrency and the Nigerian Local Board and the progress of Nigerians here is a proove about that, not some of our politicians who thinks we're lazy. Like she said, banning exchanges or banning Cryptocurrency entirely is not a good way to go about it, but ensuring that it is regulated in such a way that bad people can't use it is a very good idea. The government should think about how many businesses they’ll collapse if they ban Cryptocurrency entirely cause it could further increase the rate of crime thereby forcing more youths who's business are crumbled to go into criminal activities for survival.

 Here's a link to the video incase you're interested in watching it.
https://twitter.com/PulseNigeria247/status/1359869126785785858?t=c3DsAIpyy4fUF6pOTZQbtA&s=19
 

Anyone who understands how BTC operates would see no reason to get worried or panic cause the best is yet to come. It's only those who rushed to invest into it when they got little idea that would see a reason to panic when the price of Bitcoin goes down, most of them got into the market due to wrong informations they got about the halving.

 I believe the man who was complaining to his friend when the price went down would be very disappointed at himself currently if he had sold then cause few days after the price went beyond the initial price of about 57k it was when he made mention of selling his coin. Now this would teach him a lesson if he sold cause Bitcoin is currently 63k and has a potential of going higher.

 For a person holding for a long term, buying at the peak of 73k shouldn't be an issue, mostly  if the person bought bulk Bitcoin then there's no reason for panic cause there's a great possibility of Bitcoin going beyond that mark.

Everyone of these arms of government have their own roles to play in handling corruption in this country but I think the Judiciary and the security sector got a major role to play in reducing corruption and putting corrupt leaders behind bars. A normal citizen can't do that but them, that's why I believe they've got a major role to play.

 It would've been easier if those two sectors play their roles very well but the system is so corrupt that many security personnels and Judiciary won't hesitate to collect bribe and hide the crimes of those evil politicians especially when they give them very huge  offers they can't reject, take for instance what happened in the previous elections where both the Inec chairman, security personnel's and Judiciary played a role in causing an unfree and unfair election.

 Currently the system is so bad that even though any security personnel or Judiciary tries to do the right thing they'll get threatened by those politicians and risk losing their lives or loved ones. And to make things worst; they've become so bias that those in the ruling party who commit crimes and loot public funds are safe but the opposition parties are held by the law when they're at fault. Now they're trying to say the law doesn't hold government officials in the ruling party anymore.

 Two adults were having a discussion which included something kids shouldn't know about as the conversation was ongoing then the child of one of them tried to pokenose by giving advice to the friend of her mother on how to seduce a man she was lusting after. At some point the mother was so ashamed and rebuke her then asked who taught her what she was saying, the child replied, blame it on technology and the Internet. Now do you think the child is right?

 I don't know about you but my answer to that question is no, I'm aware that there are several adult content on the Internet currently that could ruin kids and the technology she meant was gadgets like phone and laptop but then those stuffs were not designed to ruin mankind but to help us improve and as a parent you're in the right position to guild your children, teach them good morals and help them not to get misled by the Internet when parents are too busy to check up on their kids regularly or monitor their day to day activities with those gadgets then those kids are at the risks of going astray.

 On thing about them is that they learn very fast and if their parents are not there to give them proper guidance then those kids could go astray instead of using the Internet and technology for learning they'll rather be misled by it, that's why parents should learn to set up parental control concerning adult content on the devices at home so kids won't misuse it. If you don't teach your kids good morals  and let them know the consequences of doing bad then other spoilt kids would mislead them.

Knowledge and Understanding are two different topics or should I say two different philosophies that’s majorly needed in every philosophy of life. These two philosophies to an extent can go together as you will need proper knowledge on a topic to be able to go have an understanding of that particular topic.

 ⁠Moving forward, having proper understanding of a topic helps to bring success on a particular topic or project. Now having a knowledge is more like having the little idea on a topic and all but understanding is a proper and full knowledge on the topic and as such this full knowledge will be able to help you make proper decisions to be able to help you succeed.

 In the cryptocurrency sector, one with a basic knowledge will just be having a little knowledge of them knowing about coins and all but with a proper knowledge you will be able to go on with market trends and all. Full knowledge which is proper understood will help one be more successful in the world of cryptocurrency as it will help you be able to study market trends and as such you’ll be able to make some key decisions to help you scale through. it’s very different in knowing what to do and how to do it in a useful way and more effectively.

 A lot of complains have been coming up lately about Kucoin, from poor customer service to scam vendors and this is one thing the company needs to look into, else they'll end up losing their reputation. Situations like this makes people miss Binance a lot, their P2P was very transparent, easy to understand and trade swiftly with good vendors, not to talk about the good customer care they had.

 When the government placed a ban on Binance P2P many of it's customer seeked different alternatives and Kucoin is one of the exchanges that benefitted from it, cause I know most of my friends switched to using that exchange for selling their coins but then with the rate at which their vendors are beginning to act strange I feel they'll lose lots of customer cause my dear many people are complaining about this same situation.

 And for a vendor that's verified, I didn't expect that from such person, thats the kind of person who ruins the reputations of most of these exchanges, it's not like Kucoin is a bad exchange but most vendors there are not very transparent. Anyways thanks dear, for bringing this to the notice of the forum members especially those who use Kucoin so they'll take precautions and also avoid trading with that vendor.

 I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding.

 When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

 I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong  

That's true, living a lavish lifestyle is one way someone could be forced to acquire more depth, especially when the person is not very wealthy. For instance an average person who owns a Toyota carmy but desires a GLK could be forced to go take loans to satisfy his/her desire and acquire the GLK which is not very important  at that moment. You could image such person depositing a landed property as a collateral to get loans to acquire the car.

 Automatically, the person becomes a debtor and not only that but would end up losing an asset because of a desired property that's not fetching the person some money but could become a liability because the person would end up spending more on not only maintenance but on fuel because he's no more using an economic vehicle but a luxurious one that would consume more fuel.

 This is the more reason why people should live according to their limits, do not be oppressed by anyone or live a life beyond your budget to impress people, else you midht end up putting yourself in a huge debt you'll live to regret.

A lot of people including myself, except price of Bitcoin to go up after the approval of the Bitcoin ETH by Hong-Kong but instead it when the other way round, I know many that's been disappointed by this, there expectations where high cause many thought Bitcoin would reach 80k and even get but that but after the halving a lot of expectations were cut shot cause BTC didn't get to the point they expected during the halving.

 I feel sorry for those who borrowed money or invested in Bitcoin from their little savings because things didn't work out as plan but rather the price keeps going down. I even heard someone saying Bitcoin is of the devil and it's not a good asset to invest in, I belive such person is among those who expectations were high or borrowed to invest during the halving lol.

 Well, all hope I not lost Bitcoin is a volatile asset and it could still shock everyone although no one knows when. Atleast this could teach everyone that the approval of ETF by any country doesn't really determines the price of Bitcoin, bit I feel the hike of gas fee could be what influenced the drop in price currently.

Fuel scarcity is one of the causes of hike of goods, sometimes our Naira may gain value but when fuel price goes high or remain the same even while Naira gains against dollar, you'll see the coat of transportation remaining stagnant. I don't really blame the transport companies or cab drivers for not reducing the cost of transportation due to the cost of fuel currently and traders too have to increase the prices of their good based on the current transportation fee nation wide.

 But then I don't think scarcity of fuel is the only cause of hike in price of goods, sometimes greed also plays a role too, there are times when there's no fuel scarcity and Naira gains against dollar but then instead of some traders to reduce the price of goods, they'll end up selling more than the previous price and claim they're yet to sell their old goods some traders would even want to sell double the previous price if they're given an opportunity which is bad.

 That's the height of it all, we all are praying for a change but the change begins with all of us, I'm fully aware that our governance of this country is poor and their are many sectors that needs to be attended to for things to get better but we citizens have a role to play as well for out country to get better again.

Where's the lies in this, due to the poverty rate in Africa, people have become too desperate to escape poverty and sometimes when opportunities come their way, be it in a case of acquiring properties or whatever industry most people don't even care to read the terns and conditions before signing any contract or document so far they're comfortable with the offer, they skip the T&C and rush into signing without proper cross-check.

 I've also heard of a case where a boy good at music signed a contract with a record label but didn't know what he was doing cause he had no one to guide him through, in the contract he signed he was to be paid 20% of whatever amount the record label makes from his music while they take the remaining 80, I bet before he signed he was very happy he'll soon be a popular celebrity and probably make millions little did he know that he'll be used and paid little for his services.

 Well sometimes it might be due to ignorance and before you know it they've end up losing a lot of rights or selling their services for peanuts while they could've been making lots from the contract or business if only they've cross-checked the terms and conditions properly. Sometimes one might not be learned or very educated to understand what the conditions indicates that's why I'll advise that people who are not very learned should seek advice from a lawyer or learned person before signing a contract, business or land documents.

 

Due to the level of corruption and bad government, lack of job opportunities and many others, a lot of people are beginning to complain about the country, well I don't blame them for their complaints because a lot of citizens don't even enjoy their fundamental human rights even while being patriotic citizens of this country but people should understand that Nigeria is not the worst country in the world.

 Despite the hardship and lootings by our government I'm still proud to be a Nigerian and I'll rather come from Nigeria than many other countries iwhere there's no peace, for example Iraq, Somalia, North Korea, Dr Congo, Sudan, Yemen, Mexico, Central Africa, Afghanistan and many others. Atleast after the civil war in the 60's we've not experienced another civil war  but there are countries that's been a war year in year out, countries like Syria and Iraq yet people still exist there.

 I think if our government could change their bad governance and begin to lead by example, also creating job opportunities, build good roads and infrastructures, restructure our educational system, I think most citizens who's been forced into the streets to commit crimes for survival would begin to change and our country would get better, Nigeria is a country blessed by our maker with so many rich natural resources that could make us compete with developed nations but then bad governance lead us to this point and forced youths to go into various crimes. Well I still believe change is coming and our country would go back to being the giant of Africa.

I agree with you, no human is 100% perfect it's just our nature as humans and I believe that  it's because of our imperfection that we try to be perfect thereby taking corrections when we make errors. It's only an unserious person that would fail to try out new things because they're scared of making mistakes, i wonder how such people intend to learn in life.

 Talking about being successful, according to history most geniuses who became successful in the history book made several errors but they didn't give up but kept trying until they became successful, for instance Michael Faraday who was the investor electricity tried numerous times before he became successful if he had given up or stopped trying how would he had discovered that?

 Today he's being recorded in the history books for his success, now that's how those who gave up and left the forum would had been, maybe if they had been patience enough and disregard the criticism or rather learn from it, who knows maybe they might have been one of the most successful forum members in the future, but funny how lack of patience and tolerance made them miss out from the opportunities the forum has to offer. People should understand that sometimes the best lesson is learnt from one's mistakes so when you make mistakes taking corrections should be the next step.

I missed investing in Bitcoin in the previous halving cause then I didn't got as much knowledge of Bitcoin and the bull run like I do now, I think back then i was busy saving fiat in the bank instead of investing it in Bitcoin like others, ignorance they say is really a disease. Well I'm really impressed of the knowledge I've managed to gather here concerning Bitcoin and other cryptocurrencies as well.

 But what I'm not really impressed about is the fact that due to some financial challenges i encountered earlier, I wasn't able to invest heavily and with the current drop in price before the halving I'll miss an opportunity to profit more, well I'll try my best to prepare very well for the next halving after this.

 Anyways what excites me is the good knowledge and information I've got concerning the bitcoin halving and it's circle, coupled with the little I invested. Also anyone that's not taking advantage of the dip currently, maybe doesn't know about crypto or have the funds to buy more coins, cause I don't see why one would be financially strong enough to seize this opportunity and refuse to.

I don't think anyone would believe the OP's story if he's not able to provide prove of his claims like the transaction ID or a screenshot of the transaction history, also I feel sorry for him if he's being sincere about this cause his money could be gone, i mean how is he going to get that back if the receiver is not willing to refund it or is there anyway possible he could?

 Currently his only hope should be that he reliever is a generous and kind hearted person that would send it back without a second thought. If not, if the reciver is someone that's really in need of money and is not willing to refund I'm sorry your money is gone.

 Lol, I decided to overlook that and give him my opinion before coming to that, dropping an ETH address for a refund of Bitcoin would give anyone that reads his statement a reason to have doubts because they're not same thing. Maybe he doesn't know about that, he might be new into crypto or maybe he's giving the receiver an option to convert to ETH and send if they could, just maybe.