Hodl (Naija)

[Karl_3000]

🇳🇬 ₦112,973,425 ($85,100 €75,953 £64,346).

I will advise that instead of saving money in bank, why not leave it in bitcoin, the way naira  is depreciating is  something which should be concerned about.

How naira has been falling since Buhari time to Tinubu time is very alarming but the fall have reduced. I still do not care about that at all, holding bitcoin is better if you can NCA when the price of bitcoin is low. I just make sure I do not do blind investment and bitcoin has been paying me.

Well, you are right but there are some things one may consider before making any decision. For you, you might think investing in Bitcoin is the best way for one to keep their funds, but you can't say that the same is true for another person, because Bitcoin has its own challenges that not everyone might be able to handle. So, I will advise that, instead of putting all their money in one place, it would be better to diversify their funds as both banks and Bitcoin have their own purposes to serve when the need arises. This will help them to make decisions that they won't later regret.

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

[Achalugo BTC]

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

[cocadalcan]

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

Does anyone invest blindly? Not at all at least I have not seen anyone who invested in Bitcoin without understanding. There is a type of trader who imitates experienced traders without understanding in the greed for high profits. Sometimes these new traders use most of their money in trading and panic and sell at a loss. To invest in Bitcoin you do not need to acquire high knowledge, if you have the knowledge to keep your wallet safe and have discretionary income you can gradually accumulate Bitcoin. You can acquire knowledge about the principles of Bitcoin while gradually accumulation and holding it.

[fredericktaylor]

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

In addition, it increases investor confidence, making it much easily to hold Bitcoin for a long time. This prevents market volatility from affecting the investor mindset, which allows investors to invest for a long time with confidence and hold Bitcoin for a long time. This reduces the risk of losing money and there is a possibility of making money from Bitcoin in the long term. Bitcoin is volatile, so it cannot be guaranteed that an investor will make 100% profit by investing.

[Achalugo BTC]

In addition, it increases investor confidence, making it much easily to hold Bitcoin for a long time. This prevents market volatility from affecting the investor mindset, which allows investors to invest for a long time with confidence and hold Bitcoin for a long time. This reduces the risk of losing money and there is a possibility of making money from Bitcoin in the long term. Bitcoin is volatile, so it cannot be guaranteed that an investor will make 100% profit by investing.

Exactly. It's the mindset that, in the long term, gives them a better chance of making a profit from their investment. This is what makes it different from trading, where traders may not be able to hold a position for long, as that can result in financial mistakes or losses. Bitcoin remains volatile and the only way for one to remain firm and avoid buying or selling out of panic or fear of missing out is to exercise patience, self-control and determination, as these will help them make informed decisions rather than hold blindly. But the most important thing is that one should invest only what they can afford to lose without being afraid to lose it.

[Primark]

Well, you are right but there are some things one may consider before making any decision. For you, you might think investing in Bitcoin is the best way for one to keep their funds, but you can't say that the same is true for another person, because Bitcoin has its own challenges that not everyone might be able to handle. So, I will advise that, instead of putting all their money in one place, it would be better to diversify their funds as both banks and Bitcoin have their own purposes to serve when the need arises. This will help them to make decisions that they won't later regret.

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

You said it very well. Especially with the increasing inflation these days, people can think about saving Bitcoin. But I think keeping almost all the money in Bitcoin can be risky. I have some savings, if I put money for rent, medical, food or family emergency expenses in Bitcoin, then it will be an additional risk. Because I have also put my necessary money in Bitcoin, so when I need that money, if the price of Bitcoin drops, I will be forced to sell Bitcoin at a loss. That is why I always give importance to keeping investment money and emergency funds separate. For me, the best strategy in terms of investment is that where you can gradually build a position according to your ability. It is not the right decision to put all the money in Bitcoin in a hurry.

[BluebloodCXVI]

Omo Bitcoin just dey do as e like this period, e no send any of us at all 😂, but i no panic unto say i know wetin i sign up for before i start to dey hold am, so last last everywhere stew for this side.

Bitcoin price currently dey observe around that kin $82500-$83000 range, so e don drop small for the last few days(i think about -3% to-4% drop for the week).
This no be cause for alarm but na to remind fellow HODLers dem, say make dey no allow all this price movements wey dey happen for bitcoin market pressure dem to do any mumu thing with their holdings dem.
HODL na the goal, we die here.
How far @Karl_3000, e don tey wey you update this thread oo, since October 5 and today na 12, that’s 7days apart.
Hope say everywhere stew for your side sha?, i know say e no easy but try to dey bump this thread from time to time so e go dey visible and relevant for long time, if at all.

You get level💯

[Karl_3000]

🇳🇬 ₦110,551,256 ($82,860 €74,245 £62,742).

How far @Karl_3000, e don tey wey you update this thread oo, since October 5 and today na 12, that’s 7days apart.
Hope say everywhere stew for your side sha?, i know say e no easy but try to dey bump this thread from time to time so e go dey visible and relevant for long time, if at all.

You get level💯

I will begin to continue updating the thread again. When Igebotz deleted our Africa Bitcoin Conference (ABC) instead to tell me to make some corrections really discouraged me to post like before on the local board. I do not think he knows what the meaning of bitcoin conference is, but just make conclusion as if such information are not important on this board or as if  people do not understand that it is a conference. Another thing is if I do not see much reply yet and it happened that time too which weaken my zeal to post on this thread. But I will continue again. Thanks for the observation.

[igebotz]

I will begin to continue updating the thread again. When Igebotz deleted our Africa Bitcoin Conference (ABC) instead to tell me to make some corrections really discouraged me to post like before on the local board. I do not think he knows what the meaning of bitcoin conference is, but just make conclusion as if such information are not important on this board or as if  people do not understand that it is a conference. Another thing is if I do not see much reply yet and it happened that time too which weaken my zeal to post on this thread. But I will continue again. Thanks for the observation.

If you were so concerned about the ABC conference, you'd have it in your personal text space. And for the records your post wasn't deleted it's here https://bitcointalk.org/index.php?topic=5595541.msg67195512#msg67195512

Pay to attend Bitcoin conference is the highest form of scam and I'd advise anyone against it. It literally 80% pleasure, 10% Bitcoin discussion and 10% lost time. Imo

[PremiumcryptoHub]

I will begin to continue updating the thread again. When Igebotz deleted our Africa Bitcoin Conference (ABC) instead to tell me to make some corrections really discouraged me to post like before on the local board. I do not think he knows what the meaning of bitcoin conference is, but just make conclusion as if such information are not important on this board or as if  people do not understand that it is a conference. Another thing is if I do not see much reply yet and it happened that time too which weaken my zeal to post on this thread. But I will continue again. Thanks for the observation.

If you were so concerned about the ABC conference, you'd have it in your personal text space. And for the records your post wasn't deleted it's here https://bitcointalk.org/index.php?topic=5595541.msg67195512#msg67195512

Pay to attend Bitcoin conference is the highest form of scam and I'd advise anyone against it. It literally 80% pleasure, 10% Bitcoin discussion and 10% lost time. Imo

Yes it is stupid to join bitcoin conference with money because I think it is not wise for those who are normal retail investors to spend so much money for tickets and travel to attend this ABC but if one is looking for crypto trader, job seeker and entrepreneur in crypto sector then it can be important to attend because as far as I know these conferences are attended by experienced investors, developers and blockchain experts which makes it easy to gain knowledge from there. Positive aspects of joining this ABC are: great networking opportunities, hands-on knowledge acquisition, new project opportunities.

But on the other hand aspects to consider are: additional costs; Basically the ticket price for these conferences is very high along with travel hotel fare and food and beverage expenses. Also almost all keynotes from Bitcoin Conference,Panel discussions and announcements are also available later on social media so we think many people will be able to find out about them for free.

[Karl_3000]

🇳🇬 ₦110,740,486 ($83,700 €74,909 £63,320).

If you were so concerned about the ABC conference, you'd have it in your personal text space. And for the records your post wasn't deleted it's here https://bitcointalk.org/index.php?topic=5595541.msg67195512#msg67195512

Pay to attend Bitcoin conference is the highest form of scam and I'd advise anyone against it. It literally 80% pleasure, 10% Bitcoin discussion and 10% lost time. Imo

It is a scam for anyone that want to just hold bitcoin, but for people that want to be exposed and know people and seek for opportunities, it is not a scam but luck is very important in life. For anyone that do not have the money like a small amount, no need to attend.

Yes it is stupid to join bitcoin conference with money because I think it is not wise for those who are normal retail investors to spend so much money for tickets and travel to attend this ABC but if one is looking for crypto trader, job seeker and entrepreneur in crypto sector then it can be important to attend because as far as I know these conferences are attended by experienced investors, developers and blockchain experts which makes it easy to gain knowledge from there. Positive aspects of joining this ABC are: great networking opportunities, hands-on knowledge acquisition, new project opportunities.

You can see that I underlined two part of your post which is like word and opposite.

But what that is important about this thread is holding bitcoin.

Happy Hodling.

[Son Of Blockchain (SOB)]

You said it very well. Especially with the increasing inflation these days, people can think about saving Bitcoin. But I think keeping almost all the money in Bitcoin can be risky. I have some savings, if I put money for rent, medical, food or family emergency expenses in Bitcoin, then it will be an additional risk. Because I have also put my necessary money in Bitcoin, so when I need that money, if the price of Bitcoin drops, I will be forced to sell Bitcoin at a loss. That is why I always give importance to keeping investment money and emergency funds separate. For me, the best strategy in terms of investment is that where you can gradually build a position according to your ability. It is not the right decision to put all the money in Bitcoin in a hurry.

It would be very silly for someone to put all his all her income into Bitcoin, moreover Bitcoin is invested with the discretionary funds so which means other funds meant for important expenses as well as the emergency funds should be in fiat and stored in the bank, Bitcoin is volatile therefore all income should be in Bitcoin expect the person is paid in Bitcoin.
 Even at that he/she would still leave their emergency funds their and send the remaining to an exchange to be converted to fiat for daily expenses. Like you said, putting all income into Bitcoin would definitely make someone sell at lose to settle necessary daily expenses which isn't a good way of investing.

[Umulala-alala]

You said it very well. Especially with the increasing inflation these days, people can think about saving Bitcoin. But I think keeping almost all the money in Bitcoin can be risky. I have some savings, if I put money for rent, medical, food or family emergency expenses in Bitcoin, then it will be an additional risk. Because I have also put my necessary money in Bitcoin, so when I need that money, if the price of Bitcoin drops, I will be forced to sell Bitcoin at a loss. That is why I always give importance to keeping investment money and emergency funds separate. For me, the best strategy in terms of investment is that where you can gradually build a position according to your ability. It is not the right decision to put all the money in Bitcoin in a hurry.

It would be very silly for someone to put all his all her income into Bitcoin, moreover Bitcoin is invested with the discretionary funds so which means other funds meant for important expenses as well as the emergency funds should be in fiat and stored in the bank, Bitcoin is volatile therefore all income should be in Bitcoin expect the person is paid in Bitcoin.
 Even at that he/she would still leave their emergency funds their and send the remaining to an exchange to be converted to fiat for daily expenses. Like you said, putting all income into Bitcoin would definitely make someone sell at lose to settle necessary daily expenses which isn't a good way of investing.

Anybody who went with all their income and invest in bitcoin is only just gambling with their investment, do they think bitcoin is a short time investment where they can invest now and make some so much profit in a short time.m?  Bitcoin is a long time investment not like other business investment, this one you have to be buying BTC and hold for long and to hold for long you have to invest with money you won't be needing soon and it must also be money you can afford to lose, because as a volatile asset you can't really predict what will happen next that's why it's wrong to invest everything in bitcoin as there are other investment or business to diversify to.

[Achalugo BTC]

It would be very silly for someone to put all his all her income into Bitcoin, moreover Bitcoin is invested with the discretionary funds so which means other funds meant for important expenses as well as the emergency funds should be in fiat and stored in the bank, Bitcoin is volatile therefore all income should be in Bitcoin expect the person is paid in Bitcoin.
 Even at that he/she would still leave their emergency funds their and send the remaining to an exchange to be converted to fiat for daily expenses. Like you said, putting all income into Bitcoin would definitely make someone sell at lose to settle necessary daily expenses which isn't a good way of investing.

I totally agree with you.  Inasmuch as Bitcoin is important, especially when investing for the long term, that doesn't mean one shouldn't save in fiat, because there are other expenses that one will need fiat to cover. This can save one the stress of converting Bitcoin to fiat when money is needed and potentially selling at a loss. That's why people should always plan and not only think about the present but also consider the future. So one has to balance saving in Bitcoin and in fiat.

[igebotz]

It is a scam for anyone that want to just hold bitcoin, but for people that want to be exposed and know people and seek for opportunities, it is not a scam but luck is very important in life. For anyone that do not have the money like a small amount, no need to attend.

The small amount you can afford will not give you access to the big investors on the VIP and VVIP access and what big investors come to do is advertise their products to get more money from the retail investors and teach you nothing in return.

Everything you need about Bitcoin is already on this forum and Reddit- if your aim is learning how to trade then siminars like that can't teach you that.

This is me telling from personal experience - I've attended a lot of them.
 

[Johnlomape]

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

Getting knowledge is one thing we should never ignore when looking for opportunity to make money from anything we are doing.
Information is what is going to differentiate a profitable investor from the ones that are struggling to make profits from their investments.
Some people that called themselves investors do not know how to invest in Bitcoin without following the right and suitable way that will encourage investors to continue to buy without getting greedy of making quick profits from their investments.

[Tonimez]

It is a scam for anyone that want to just hold bitcoin, but for people that want to be exposed and know people and seek for opportunities, it is not a scam but luck is very important in life. For anyone that do not have the money like a small amount, no need to attend.

The small amount you can afford will not give you access to the big investors on the VIP and VVIP access and what big investors come to do is advertise their products to get more money from the retail investors and teach you nothing in return.

Everything you need about Bitcoin is already on this forum and Reddit- if your aim is learning how to trade then siminars like that can't teach you that.

This is me telling from personal experience - I've attended a lot of them.
 

You're very correct sir in this. So many of the likes of such seminars always end in a disappointing way especially to the younger ones and low class attendees who usually go with the mindset of meeting the VIPs, it just doesn't happen that way, instead the VIPs come up with such seminars to expand their horizons and connect with co VIPs who they've planned out everything with even before the due date.

I have attended several of such sevinars too that amounted to nothing at the end. If one wants to attend the seminar, he should not think that once he gets there, he will come back with both the knowledge and connection, just focus on the fun you are going to have and the experience. But at the end, it tends to be a waste of time and resources.

[Olatundespo]

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

Getting knowledge is one thing we should never ignore when looking for opportunity to make money from anything we are doing.
Information is what is going to differentiate a profitable investor from the ones that are struggling to make profits from their investments.
Some people that called themselves investors do not know how to invest in Bitcoin without following the right and suitable way that will encourage investors to continue to buy without getting greedy of making quick profits from their investments.

Of course. By gaining knowledge, you can design and implement a different and better investment plan than others. To take a business to a profitable level, you have to work hard, invest capital, be patient, and manage the business with discipline. To be successful in business, you have to have a long term plan and implement it. If the foundation of knowledge is weak you will not be able to implement anything properly because to be successful, you have to be consistent with previous information and focus on implementing future investment plans. A smart investor does not expect to make a profit at the beginning.

Just as a businessman works slowly to improve his business through capital, hard work, discipline, and patience, a Bitcoin investor also has to move forward with determination. Quick decisions and decisions to get quick profits are mostly unsuccessful.

[Karl_3000]

🇳🇬 ₦110,830,925 ($83,398 €74,537 £62,872)

It would be very silly for someone to put all his all her income into Bitcoin, moreover Bitcoin is invested with the discretionary funds so which means other funds meant for important expenses as well as the emergency funds should be in fiat and stored in the bank

This was what I was doing before but I have converted all my emergency money to bitcoin, some to PAXG/XAUT, and some to SPCX. I have little left 10% in the bank but they are under savings with 18 to 20% annual interest on Moniepoint, Kuda, Opay, Palmpay and Opay

I earn weekly which I am using the old formula for.

[Rockson1]

It would be very silly for someone to put all his all her income into Bitcoin, moreover Bitcoin is invested with the discretionary funds so which means other funds meant for important expenses as well as the emergency funds should be in fiat and stored in the bank, Bitcoin is volatile therefore all income should be in Bitcoin expect the person is paid in Bitcoin.
 Even at that he/she would still leave their emergency funds their and send the remaining to an exchange to be converted to fiat for daily expenses. Like you said, putting all income into Bitcoin would definitely make someone sell at lose to settle necessary daily expenses which isn't a good way of investing.

Putting all income in Bitcoin sounds off and I think such reasoning is insane, no one should do that, just as you pointed out, Bitcoin investment should strictly be invested on with our left over fund which you have described, anyone deviating from that should not complain when the hit sides.
As for where our emergency funds should be, you got it right, and why will anyone consider storing their emergency funds and funds to cover up daily expenses in Bitcoin knowing fully well that we are not suppose to withdraw from our hodling when we have not reached our target, or will such person consider creating a different wallet for that, even at that it is not still ideal because our emergency money should be where we can access it very fast, it can even be handy, although banks as you suggested is the best.