Hodl (Naija)

[Karl_3000]

Bitcoin price

₦111,513,021 ($80,653).

These are the changes I will like to add to th topic

1. A good bitcoin holders should know what is going on around the world's about bitcoin, it should not only be about Nigeria, it will be good if people are posting about lastest news on bitcoin on this thread, about news that can increase the price of bitcoin.

2. I will also like us to be discussing about how to protect our bitcoin. We should discuss about lastest malware, scam, hack and how our bitcoin can be lost so that we can abstain from what can cause our bitcoin to be lost. It can be news or anything related.

I will later edit the topic about it.

[Sticky Bomb]

2. I will also like us to be discussing about how to protect our bitcoin. We should discuss about lastest malware, scam, hack and how our bitcoin can be lost so that we can abstain from what can cause our bitcoin to be lost. It can be news or anything related.

About this it is important we practice using bitcoin-only wallet to preserve our bitcoin, It helps us with precision since meddling with other altcoins in a multi-currency wallet can expose our bitcoin to social engineering. Bitcoin is good to be kept offline in a cold storage and air gapped device and we can only achieve this if we use a bitcoin-only wallet. Good to note that most hacks occur on hot wallets and releasing our private keys online, so if we would keep our keys securely offline and only maintain a watch only wallet online, then we would be safe from hack.

[Karl_3000]

Bitcoin price

₦107,022,655 ($77,981).

About this it is important we practice using bitcoin-only wallet to preserve our bitcoin, It helps us with precision since meddling with other altcoins in a multi-currency wallet can expose our bitcoin to social engineering. Bitcoin is good to be kept offline in a cold storage and air gapped device and we can only achieve this if we use a bitcoin-only wallet. Good to note that most hacks occur on hot wallets and releasing our private keys online, so if we would keep our keys securely offline and only maintain a watch only wallet online, then we would be safe from hack.

Bitcoin-only wallet are very good if they are cold wallet because cold wallets are the safest wallets but there are some hardware wallets that is having bitcoin and some altcoins. The one that I know most about are Trezor wallets. I am not saying many altcoins are not shit coins but I am just saying that there is a secure way to keep altcoins too that is better than a hot wallet and that is hardware wallet.


I have edited the topic and included these:

These are examples of what we can post about:
1. Encouraging people to hold bitcoin
2. Discouraging trading. Another topic can be created for trading
3. Positive news about bitcoin and news about bitcoin
4. Long term bitcoin price speculation
5. News about how to avoid scammers and hackers
6. Information about privacy, security and safety
7. The importance of self-custody.

[Karl_3000]

Bitcoin price

₦105,004,907 ($76,640).

[LOVER BOY 422]

You are very correct, trading is 100 percent gambling

Trading is not 100% gambling, but most traders are not trading, but they are gambling because most of them know the rules and the strategies, but if they have started losing, they do not follow the rules.

According to statistics, people are losing most in gambling than in trading. At least, it is estimated that 97% of gamblers are losing, but around 85% to 90% of traders are losing.

Yes, they are both very risky.

Although, I also can not recommend trading to anyone because of how risky it is.

When they said trading is 100 percent gambling doesn't mean that is gambling in football what I mean is the gambling inside trading is 100 percent that's why most people always lose in trading, I don't mean gambling in football, this is just a word to classified that in trading many people do lose because of it gambling nature.
And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.

[Karl_3000]

Bitcoin price

₦105,907,375 ($77,209).

What if Iran started insurance payment in bitcoin from the ships that will pay to pass through the Hormuz Strait? I think this can later be gigabullish for bitcoin.

What about how it can affect the internal law in the Strait and shape global politics in the region.

All I want is bitcoin to be used for international trades.

[Karl_3000]

Bitcoin price

₦104,313,655 ($76,041).

[MainIbem]

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And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.

Honestly, trading with Bitcoin is like gambling with it cause the decision making relies mostly on chance/luck to be profitable and not at the traders advantage, moreover Bitcoin is a volatile asset whereby the decisions of traders are mostly speculative which is similar with gambling whereby the house got more edge and all gamblers can do is rely on luck for their predictions to be profitable. That's why it's not advisable to trade with an asset like Bitcoin but hold it longer with hope that it would be more valuable in the future. Trading with it mostly lead to lose for a good numbers of traders and the few who profit from it are very lucky. Therefore I support that Bitcoin should be seen as an investment opportunity instead of trading with it.

[Ashawowo(OS)]

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And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.

Honestly, trading with Bitcoin is like gambling with it cause the decision making relies mostly on chance/luck to be profitable and not at the traders advantage, moreover Bitcoin is a volatile asset whereby the decisions of traders are mostly speculative which is similar with gambling whereby the house got more edge and all gamblers can do is rely on luck for their predictions to be profitable. That's why it's not advisable to trade with an asset like Bitcoin but hold it longer with hope that it would be more valuable in the future. Trading with it mostly lead to lose for a good numbers of traders and the few who profit from it are very lucky. Therefore I support that Bitcoin should be seen as an investment opportunity instead of trading with it.

Trading and gambling are two different things altogether despite having similarities of having risks and uncertainties, but they are different

Mathematically, gambling is designed to perform against the gambler as outcomes are mostly dependent on luck and the systems are built on house edge and gamblers rely on pure luck to beat the casino or sports-book no matter the strategy deployed. Again once you have put in your stakes, you cannot have a setting that automatically minimizes losses for you and you can loose it all when the game goes against you.

Trading on the other side is not entirely dependent on luck, trading involves risk management, probability assessment, market analysis, liquidity understanding, timing, e.t.c. A good trader can reduce risk, minimize loss by using the stop loss feature. Bitcoin volatility doesn't automatically make trading gambling, because it provides opportunities for smart traders and they make profit.

I agree with you that holding beats trading on the long-run, even historical price data validates that and bitcoin should be an assets that should be held for long to improve chances on profits.

[Karl_3000]

Bitcoin price

₦100,155,000 ($73,192).

Mathematically, gambling is designed to perform against the gambler as outcomes are mostly dependent on luck and the systems are built on house edge and gamblers rely on pure luck to beat the casino or sports-book no matter the strategy deployed. Again once you have put in your stakes, you cannot have a setting that automatically minimizes losses for you and you can loose it all when the game goes against you.

What about the cash out in gambling? I understand that gambling is about either you win all the money or kose all the money you used to bet, but there are times that the cash out will be available which you can use to minimize the loss.

I agree with you that holding beats trading on the long-run, even historical price data validates that and bitcoin should be an assets that should be held for long to improve chances on profits.

Yes, hodling your coins is the best.

[Lenubari]

Bitcoin price

₦111,513,021 ($80,653).

These are the changes I will like to add to th topic

1. A good bitcoin holders should know what is going on around the world's about bitcoin, it should not only be about Nigeria, it will be good if people are posting about lastest news on bitcoin on this thread, about news that can increase the price of bitcoin.

2. I will also like us to be discussing about how to protect our bitcoin. We should discuss about lastest malware, scam, hack and how our bitcoin can be lost so that we can abstain from what can cause our bitcoin to be lost. It can be news or anything related.

I will later edit the topic about it.

Those are very important updates to the topic because Bitcoin holders should not only focus on price alone, but also on knowledge and security. A serious Bitcoiner should always stay updated with global Bitcoin news because events happening in countries like the USA, China, or El Salvador can directly affect Bitcoin price and adoption worldwide.

Also, discussing security is very necessary because many people lose their Bitcoin through scams, phishing links, fake investment platforms, malware, and poor wallet protection. Sharing updates about new hacks, wallet security tips, and scam methods will help members become more careful and protect their holdings better.

This thread will become more useful and educational if it combines Bitcoin price discussion, global Bitcoin news, and security awareness together.

[cxtreenal]

Bitcoin price

₦105,907,375 ($77,209).

What if Iran started insurance payment in bitcoin from the ships that will pay to pass through the Hormuz Strait? I think this can later be gigabullish for bitcoin.

What about how it can affect the internal law in the Strait and shape global politics in the region.

All I want is bitcoin to be used for international trades.

Due to long standing international financial sanctions Iran is not allowed to use international banking systems for financial transactions or has low trust in the global banking system to avoid confiscation of its funds. According to several sources Iran has already started accepting Bitcoin insurance payments. They are leaning towards accepting Bitcoin to protect shipping through the Strait of Hormuz.

Source: https://www.businessinsider.com/iran-bitcoin-strait-of-hormuz-crypto-oil-trump-btc-trump-2026-5

Russia is already using Bitcoin for international trade transactions.
Russia is also using Bitcoin for international trade transactions due to the US dominance in the international banking system, Russia using Bitcoin for a long time international trade transactions.
 
Source: https://www.financemagnates.com/cryptocurrency/russia-is-using-bitcoin-in-international-trade-payments/

[Ashawowo(OS)]

Bitcoin price

₦100,155,000 ($73,192).

Mathematically, gambling is designed to perform against the gambler as outcomes are mostly dependent on luck and the systems are built on house edge and gamblers rely on pure luck to beat the casino or sports-book no matter the strategy deployed. Again once you have put in your stakes, you cannot have a setting that automatically minimizes losses for you and you can loose it all when the game goes against you.

What about the cash out in gambling? I understand that gambling is about either you win all the money or kose all the money you used to bet, but there are times that the cash out will be available which you can use to minimize the loss.

Good question senior man, cashout is not determined by the gambler, but by the sportsbook and often times they may disable it because of how the game is going and such disabling is to their advantage, but in stop loss, you've total control to set it to the benchmark you want to exit the trade to safeguard the remaining capital you've available and limit your losses.

[Karl_3000]

Bitcoin price

₦100,768,500 ($73,560).

Due to long standing international financial sanctions Iran is not allowed to use international banking systems for financial transactions or has low trust in the global banking system to avoid confiscation of its funds. According to several sources Iran has already started accepting Bitcoin insurance payments. They are leaning towards accepting Bitcoin to protect shipping through the Strait of Hormuz.

That is true, but United States and Iran are still on peace negotiations which does not seem like peace negotiations. Let us see what will be their conclusion but if US accept this, it may later threaten US petrodollar and make more countries see usefulness of bitcoin which can also be added to international trade payment.

Good question senior man, cashout is not determined by the gambler, but by the sportsbook and often times they may disable it because of how the game is going and such disabling is to their advantage, but in stop loss, you've total control to set it to the benchmark you want to exit the trade to safeguard the remaining capital you've available and limit your losses.

Thanks for your information. Can we because of this say prediction markets are trading and not gambling? This is because users are able to cash out so far the event is not over just like how stop loss is, it is not controlled by the site.

[Yorubek]

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And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.

Honestly, trading with Bitcoin is like gambling with it cause the decision making relies mostly on chance/luck to be profitable and not at the traders advantage, moreover Bitcoin is a volatile asset whereby the decisions of traders are mostly speculative which is similar with gambling whereby the house got more edge and all gamblers can do is rely on luck for their predictions to be profitable. That's why it's not advisable to trade with an asset like Bitcoin but hold it longer with hope that it would be more valuable in the future. Trading with it mostly lead to lose for a good numbers of traders and the few who profit from it are very lucky. Therefore I support that Bitcoin should be seen as an investment opportunity instead of trading with it.

Yes, whether an investor will trade or gamble or invest with a long-term plan depends entirely on the investor's willpower, but from my point of view trading is very risky we compare trading with gambling there are several logical reasons behind it, such as making money through trading or gambling it depends a lot on luck as well as research and there is no confirm of making money and there is a high probability of losing all your money due to one wrong move it is not easy to make money by trading in the real sense it is very complicated. I think buy Bitcoin consistently with a long-term plan and holding it for the future with confidence can reduce inflation and reduce the risk of losing money and can expect long-term profits from Bitcoin.

[Mate2237]

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Yes, whether an investor will trade or gamble or invest with a long-term plan depends entirely on the investor's willpower, but from my point of view trading is very risky we compare trading with gambling there are several logical reasons behind it, such as making money through trading or gambling it depends a lot on luck as well as research and there is no confirm of making money and there is a high probability of losing all your money due to one wrong move it is not easy to make money by trading in the real sense it is very complicated. I think buy Bitcoin consistently with a long-term plan and holding it for the future with confidence can reduce inflation and reduce the risk of losing money and can expect long-term profits from Bitcoin.

Crypto currency investment is not what we should be joking with by trying to trading with our crypto currency. Crypto currency like Bitcoin is one asset that is very profitable when Left for a long time. So I am not in support of any individual who is only about making quick cash by trying to trade with their Bitcoin holding. Anyone who is trading without his Bitcoin is actually risking his investment because there is high probability of one losing his money in the process of trading because, trading is a risk thing to do.


Always make sure that you resist the temptation of trading. I don't even know why people even take trading very seriously because compared with investment which has no risk factors involved but only holding for a long period of time. Trading is not an option to me any day.

[Karl_3000]

Bitcoin price

₦100,452,558 ($73,342).

I prefer to hodl than to trade. Trading is significantly risky.

[liasbaa]

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And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.

Honestly, trading with Bitcoin is like gambling with it cause the decision making relies mostly on chance/luck to be profitable and not at the traders advantage, moreover Bitcoin is a volatile asset whereby the decisions of traders are mostly speculative which is similar with gambling whereby the house got more edge and all gamblers can do is rely on luck for their predictions to be profitable. That's why it's not advisable to trade with an asset like Bitcoin but hold it longer with hope that it would be more valuable in the future. Trading with it mostly lead to lose for a good numbers of traders and the few who profit from it are very lucky. Therefore I support that Bitcoin should be seen as an investment opportunity instead of trading with it.

Yes, whether an investor will trade or gamble or invest with a long-term plan depends entirely on the investor's willpower, but from my point of view trading is very risky we compare trading with gambling there are several logical reasons behind it, such as making money through trading or gambling it depends a lot on luck as well as research and there is no confirm of making money and there is a high probability of losing all your money due to one wrong move it is not easy to make money by trading in the real sense it is very complicated. I think buy Bitcoin consistently with a long-term plan and holding it for the future with confidence can reduce inflation and reduce the risk of losing money and can expect long-term profits from Bitcoin.

One thing that is very similar between trading and gambling is the risk of money. In gambling, you will not win most of the time. The same is true in trading. One of the many reasons is that most traders trade with the aim of making a profit in the short term and gamblers have the same attitude. Just as an experienced gambler is not sure whether he will win the next bet so is a trader. You don't have to be very knowledgeable to understand that long term Bitcoin accumulation are more valuable than trading. You can easily understand this if you know the differences between trading and investing. Bitcoin is known for its volatile of price as well as the almost guaranteed profit possibility that you will get from holding Bitcoin as a result of long term Bitcoin accumulation.

[Karl_3000]

Bitcoin price:

₦91,383,707 ($66,997).

You don't have to be very knowledgeable to understand that long term Bitcoin accumulation are more valuable than trading.

Yes, trading is also very hard in a way it is like you are working but most traders are just losing their money. Bitcoin price has fallen more now, it is at ₦91,383,707, accumulating more bitcoin this time will be very good.

What we are targeting is the long term price of bitcoin.

[Crytohillss]

And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.

Most individuals who trade Bitcoin end up treating it like a casino because they chase short term price movements without a clear method that said I wouldn't say every profitable trader is simply lucky skilled trades use risk management market analysis and discipline to improve their odds even though losses are still part of the game for the average person however long term holding probably makes more sense than active trading it removes a lot of the emotional decisions making.