From the look of things bitcoin price will not come up soon, I guess is better to hold on till when it will show strong signal before putting in money again to escape losses and people who their investment is long over due are already victims of the Price dropping. We should try to be careful this period that bitcoin has not direction. Imagine a friend investment $2000 but what is currently left in his wallet is $400, and the deep is still bearing down the nuds.
Hold on, but if you must buy now be wise to use spare income.
I believe the bottom line is you guys are looking at Bitcoin investment wrongly. The price is just about where Bitcoin topped its price for that Day 17th March 2023 when you made this post. I want to believe you must have said the same thing when Bitcoin dropped to $15k+ thinking the price was too high and would probably want to wait until it shows a strong signal and moving from $15k to $27k isn't a strong signal  As for your friend that invested $2k, even though his portfolio is reading $400 does not mean he has lost money as long as he will continue to HODL till the market reverse which I believe he should do. |
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30+ Bitcoins? who's him? I think you're refer to Laszlo Hanyecz where he spend 10,000 Bitcoins for 2 pizza and he was not disappointed for doing it, so why you should care with it?
It's your choice if you want to pay with BTC or not, but I believe there's a time where you will convert your Bitcoin to cash because you will need that money in the future, you can't just hold it and not enjoy what you've accumulated so long.
I agree with you. It wouldn't matter whether you spend your Bitcoin directly on whatever you wanted to pay for or you decide to convert to cash and still spend it as fiat, either way, you are still spending it. I don't think this kind of sentiment should be attached to Bitcoin spending because we however know that you cannot hold them forever you still have to spend them one way or the other. |
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if your wallet got hacked by someone, i think you should use other wallet instead, it's just not worth it risking your money over having the same wallet again.
moreover generating wallet is just very easy so don't sweat about it and just use the newer ones instead.
Exactly, what is the point of trying to restore or secure the same wallet that has been hacked and your funds were stolen? for that to have happened that means they own that wallet now too since they can easily reimport the wallet and reset the password again. I don't believe you can change the passphrase and if that is what they have, it is better for OP to just create another wallet and many options available too. |
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I am not doubting you in anyway but this sound like a fiction; how do you think of a woman contacting you without having a business deal before or even being link to someone that already established. You and I knows how it's for you or anyone else here to send you money or bitcoin without an escrow.
Right, I am not getting OPs story too. A person that knows Bitcoin and wants to Invest does not know anything about crypto exchange and if you were able to do all that for her and she bought the Bitcoin, where did she store them? she must have had an exchange wallet or she has a personal HD wallet which means she must know enough to do this by herself Just think through the story. |
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To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Well, it is not easy to get financial stability, especially during the current economic crisis caused by the pandemic and war. I have never felt financially stable even though my income is increasing year by year. Currently, I have just worked 2 jobs and added investment, but to be honest, I have never found myself having a stable income before. I do agree and how do people become financially stable? Does this mean they can stop working and just live the rest of their lives with whatever they already have? I do understand that we might get to a point in our financial lives where we can afford just about anything we want, maybe that is being financially stable cos I know I have had stable jobs for years and I don't think I have felt that way too. |
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You have done well OP. This is a catch them young scenario. At this age they can be able to assimilate the bitcoin technology very fast because they are of age and can flow as it is worth learning. Since it was your first time I know the tensed pressure you must have experienced while imparting the bitcoin knowledge on them. Looking at the students, they look eager and interested in the topic and the technology they look aroused and their attention all focused on the teachings.
I believe so too and I am hoping the OP is able to continue on this part with the students and also hopefully will be able to do a demo kind of live teaching with them too. I believe it is another important aspect we don't see people do much outside the theoretical lessons in the class. Let the students see how it is done live from funding your wallet to buying and withdrawing to personal wallets and keeping login info. I know all this can be thought theoretically but it is just one aspect I believe would also help their understanding. |
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Mixers or tumblers are services that allow users to mix their Bitcoin transactions with those of other users to obscure the source and destination of funds. While mixers can be useful for maintaining privacy, there are also some potential dangers associated with using them. There are several services that claim to offer this level of security, but it is important to be careful of any claim that the mixer is completely secure or anonymous and at worst is blacklisted by exchanges and other service providers.
This is we have an option to use decentralized exchange and cash out without bank, but it's hard since you need to find someone who's willing to trade with you. I do understand the whole concept of mixers and I have always wondered why that. If there is nothing to hide, why will I go through the risk of losing my Bitcoin if I might not get them back? Coming back to your statement, you do understand that has been the problem with Bitcoin transactions or Crypto in general, how many places can we spend crypto for now or how easy can you find someone that you can trade in exchange for goods/services? even after using the DEX, you still need the bank at least for now may be it might change in the future. |
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I don't understand why things are so unspeakably hard to people. I couldn't hard a good feelings for some days after thinking of what must have trans-led this suffering of financial hardship in societies. Money is rare this days, am going through a lot but I just hope things well and better soon. Is not really funny here.
My children are at home chase from school, I could not pay fees again. What could be the cause of scarcity of cash?
If you don't have a job, that is a totally different case. You couldn't pay your children's school fees because you don't have the money and maybe because you didn't earn money or maybe you do have a job but have not been paid for the month/week as the case may be. There is a difference in the lack of cash in circulation due to some government policies and not having cash at all. Someone might have cash in the bank but not on hand hence you are forced to do online transactions which will still resolve some issues but not have is usually not due to Money not being in circulation. |
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Have you checked your attitude towards money lately? What is "your dream"? bigger home, a bigger car, private schools, branded drink, gold?...
Money for for things that are important in life: you family, your people, health, well being, ... Do not be afraid to spend the money on your people when they really need it, but be wary of spending it on stupid things and if you think your car and your clothes are important, you may want to start thinking if you have any significant goal in life and where does it get you in the next 10 years.
I agee and I also believe money is important in everything however it depends on the person. While you are going to need money to take care of your family's needs like the same clothing, education, housing, health care e.t.c, it is equally important not to spend the one you have outside your budget. Some people want to buy what they cannot afford. I believe it is the spending habit that differentiates people in spending within their budget. |
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This period do not encourage trading or investment but at the same time when price is down is good opportunity to buy cheap and when its explode you will gain it. Nothing is lost in bitcoin, those holding for long now are the great benefactors but if you buy this period is more safer.
If I have money now, I would buy half of bitcoin because in next three months it will double the current price. This is real because it always occur this way after 5 years remember in 2011 and 2017 from the market charts and caps. And this year will break more even.
Buying cheap and selling high is the real formula of Bitcoin. There is no doubt about this, but there is always some kind of difficulty in knowing where exactly is the low price in order to buy cheap. And also it is not always easy to know where there is the highest price in order to sell and make profits. Some people will still not sell their bitcoin even when they make X10 and they will believe that bitcoin will explode the more. In the process of waiting it may begin to decline in price. However, I am not very sure that bitcoin will increase in the next three months to the level of doubling or tripling. In investing, buy low sell high is the general formula, not just bitcoin, this formula can be applied to all financial markets. But you're right, it's extremely difficult to pinpoint where the low price to buy is, and there's no guarantee that bitcoin will continue to double over the next 3 months. The effective way to get a return on investment in bitcoin is a long-term investment and DCA every time we have money, by long-term accumulation and holding, we will get the best return. Don't wait for the lowest price to buy because we won't know until it's past. I agree and I also believe this is the mistake some people make investing in Bitcoin. You know some people must have thought that Bitcoin was going to dip further when the price dropped to $15k+ and might have the money to buy but thought it wouldn't go down further and here we are. DCA is the best way to go but also if the price has fallen really low like it did the last time, you can buy since your intention is to hold for a long time. |
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It's good to be constructive in your expression, maybe you are a Nigerian and letting the present cash crunch control your emotion. It would have also been nice if you could name the countries in Africa, Europe and others that are facing the cash crunch, I doubt if you would be able to name up to 5 of them.
Zimbabwe was the African country that was battered by it but is getting over it before the case of Nigeria in which the main target of the government is to counter Money laundering, Vote buying, Kidnapping and many other menaces in the society.
In regards to Nigeria, would you really say that what the government did with the redesigned and less printed money with the reasons you listed above really worked? We understand they were accusations and counter-accusations about the Naira redesign and what was the result of the election? It was only the normal citizens that felt the pain and still feeling the pain. I personally don't have any problem with that cos nothing wrong with going Cash-less only if every aspect of the economy will follow suit. |
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After fulfilling your goals and your life becomes boring that's on you, there are 100s of places around the world I want to visit before I leave this world behind, there are many sightseeing I want to see, nothing beats having the time to go on adventures and travel around the world, instead of making it all and sitting your ass down in your home, that's a boring life, with money you life shouldn't be boring, there are too many things you can do to make your day a good one.
You are right and I have seen some celebs complaining about what OP is saying too. But as you said, there should be many meaningful things you had wanted to do when you didn't have the means (money) to do or visit those places and doing the things now you have money and you end up still being bored, then money wasn't the person problem, to begin with. I can't wait to get to that point I can get up and go by myself or with family and do things I/we wanted to cos we can afford it. |
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I'm curious how the OP stored the Bitcoin they bought for the baby, they created a paper wallet? Bought a hardware wallet or any software Bitcoin wallet? It would be more amazing for OP to share how they manage to store the Bitcoin so just in case in the future, other will follow it too.
Obviously this part to me will be interesting to know too , because the issues here is not just buying Bitcoin and keeping it from now to 18 years to come the security of it is paramount. Also I do believe that the Op is very much aware or has gotten some Bitcoin education to have taken this decision, The crypto space is not just about doing what other people are doing, it a matter of you understanding what you are doing and what Bitcoin is all about for you to take those decisions. I commend the Op about the long term decision and view about Bitcoin, it really the best way to start with, and with that the Op would have no worries about the bull and bear market along the line, basically wether the price goes up today or down tomorrow until the child is 18 years. As for me, I do however believe that the OP has thought well in investing in Bitcoin for her New Baby and I know Hodling for the long term is the goal but I would want to sell off during the ATH and buy back when the market hit around bottom again, that way she is able to double or even quadruple the investment along the market circle. Just a thought. |
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For a long term holder / investor, what are the risks available with staking coins and tokens that you plan to hold for a long period of time? I want to know if its safe to keep your coins in staking instead of just holding them in a wallet when your ultimate plan is to hold for long term.
I believe staking is good considering you are still holding your coins/tokens while you get some percentage interest from them than just holding them in your wallet without earning anything, however, there is the other part of staking that I wouldn't partake in which is the lock staking. I lost the chance to sell some tokens I had some time when the price picked because I couldn't access them at the time and when the period expired the price had dumped again  |
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If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?
' Well, people are different, not everyone in Bitcoin invested every one of their savings in Bitcoin and people should never forget not to invest what they can't afford to lose. That said, I understand that anything can happen but as for me, until it happens. Bitcoin has endured a lot of FUD thus far and is still here and will probably be here way more than you think but if what you think happens, those that know to take profits interval wouldn't worry. |
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In some conversations that I have had with some rich people who are old, they most times always say that they invested in real estate and that was how they made some fortune. Young people understand that investing is key and paramount to securing a better future like these Old rich men did then, But the question now is what exactly to invest in for young people. Is it wise to follow in the steps of the old rich men who had investments in Real Estate, or do they completely now invest in cryptocurrency? The answer is sometimes traced to the one that offers the lowest risk and loss of capital.
The less riskier from Real Estate and cryptocurrency is Real Estate, but less risk,, less reward. The risk that come with the higher volatility of cryptocurrency makes the profit that can be gotten bigger. Will you go for less risk, or big profit?
The old or elderly would have invested in real estate because that was attainable back then when they were investing and not crypto hence the reason you keep hearing all of them the say same thing about real estate investment however we have the opportunity to diversify into other aspect and years from now when you ask the same question, the elders then which are the youths now will tell you they invested in Cryptocurrency which was able to give a wonderment profit in the shortest time regardless of the risk when compared to real estate but this is not to say both are not worth investing in. |
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World millionaires who have billions of dollars of money will of course choose gold for investment, in my country when covid or 3 years ago there were rich people who bought about 2 tons of pure gold, and the price of gold has gone up more than 15% in 3 years so the money has increased by 15% Of course, gold is the safest and most promising investment for the long term.
You are right, It is even more than 15% high in price than what you said.  Gold Price in USD per Troy Ounce for Last 3 YearsGold is a stable asset with low to no risk per se and as you said, we too have a Gold market here and you see many people in that section of the market regularly. I believe it is another safer investment for the rich folks because of its stability in price which is less than what you see in Bitcoin especially. |
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without good education it will be difficult for anyone to compete or be able to achieve the expected goals, n
Don't get me wrong, I am not saying dedication is not important but I however disagree that without education it will be difficult for you to compete or achieve your expected goals. Compete at what level and what expected goals are we talking about? those are relative. I am talking about people I know without higher education whatsoever, Rich as F@_k, and have connections to every level of government simply because they have money right here in my region. Both are needed if I may say so but education does not guarantee you been rich, but being rich kinda guarantees a lot, like being a Bitcoin whale  |
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That is roughly like $900 if I got your amount correctly and I would say it is a good amount to invest in Bitcoin. Even some of us don't have that much in Bitcoin HODLings  however, I don't think you should hold out for too much, people always think that the price might go down again, so what if it does? your target should be for the long hold at least next ATH and what happens if it doesn't go down again? except up. But always remember to have your BTC away from your exchange wallet to your own personal HD wallet. |
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