Hodl (Naija)

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 104,983,989.4334  ($78,088 €69,799.7089 £58,263.553)

Despite the Binance breach, bitcoin price did not fall. It is good how to exchanges tackle what the hackers did, but it is good that if you are not using your bitcoin to do anything on exchanges like trading, have them on self-custody wallet. This thread is about hodling, it is better you just hodl your coins on self-custody wallet that is well self protected.

[Son Of Blockchain (SOB)]

Despite the Binance breach, bitcoin price did not fall. It is good how to exchanges tackle what the hackers did, but it is good that if you are not using your bitcoin to do anything on exchanges like trading, have them on self-custody wallet. This thread is about hodling, it is better you just hodl your coins on self-custody wallet that is well self protected.

You said it well bro, it makes no sense for someone who claim to be holding to hold in exchanges, holders prioritise self custody wallets not exchanges cause they're meant for people who speculative the price own different coins (traders) but anyone who still choose to use exchanges after the recent happenings is unserious.
 It's good you're encouraging long term holding, our economy is too bad and people can use Bitcoin as an inflation hedge or secure financial freedom in future with it and that can be achieved by holding.

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 104,983,989 ($76,850 €68,613 £57,270)

[PremiumcryptoHub]

Despite the Binance breach, bitcoin price did not fall. It is good how to exchanges tackle what the hackers did, but it is good that if you are not using your bitcoin to do anything on exchanges like trading, have them on self-custody wallet. This thread is about hodling, it is better you just hodl your coins on self-custody wallet that is well self protected.

You said it well bro, it makes no sense for someone who claim to be holding to hold in exchanges, holders prioritise self custody wallets not exchanges cause they're meant for people who speculative the price own different coins (traders) but anyone who still choose to use exchanges after the recent happenings is unserious.
 It's good you're encouraging long term holding, our economy is too bad and people can use Bitcoin as an inflation hedge or secure financial freedom in future with it and that can be achieved by holding.

To be honest long-term holders usually don't keep bitcoins on exchanges because in my experience they buy bitcoins from exchanges and quickly store them in cold wallets or Airgapped wallets, but short-term traders may leave their balances on these platforms for convenient trading, even if it's too risky. Actually I personally think so experienced holder understand that Bitcoins should not be kept on exchanges as they can lead to hacking, bankruptcies and account freezes as we have seen in recent times after the biggest platform in the crypto world was hacked.

Since many in this country use Bitcoin as a hedge against inflation, everyone should keep Bitcoins in a secure self-custody wallet because they have the potential to make a profit by holding Bitcoin for the long term.

[Primark]

Despite the Binance breach, bitcoin price did not fall. It is good how to exchanges tackle what the hackers did, but it is good that if you are not using your bitcoin to do anything on exchanges like trading, have them on self-custody wallet. This thread is about hodling, it is better you just hodl your coins on self-custody wallet that is well self protected.

You said it well bro, it makes no sense for someone who claim to be holding to hold in exchanges, holders prioritise self custody wallets not exchanges cause they're meant for people who speculative the price own different coins (traders) but anyone who still choose to use exchanges after the recent happenings is unserious.
 It's good you're encouraging long term holding, our economy is too bad and people can use Bitcoin as an inflation hedge or secure financial freedom in future with it and that can be achieved by holding.

To be honest long-term holders usually don't keep bitcoins on exchanges because in my experience they buy bitcoins from exchanges and quickly store them in cold wallets or Airgapped wallets, but short-term traders may leave their balances on these platforms for convenient trading, even if it's too risky. Actually I personally think so experienced holder understand that Bitcoins should not be kept on exchanges as they can lead to hacking, bankruptcies and account freezes as we have seen in recent times after the biggest platform in the crypto world was hacked.

Since many in this country use Bitcoin as a hedge against inflation, everyone should keep Bitcoins in a secure self-custody wallet because they have the potential to make a profit by holding Bitcoin for the long term.

Investors will never want their assets to be held by a third party. That's why I also agree with you that long-term investors will always want to keep their assets safe. When we keep our assets on the exchange, it is foolish to claim it as our own. Because then that institution can get hacked or various problems can arise. Especially recently, such a big exchange like Binance was hacked and proved how risky it is to keep our assets on the exchange. Although I heard that Binance has compensated most of their customers. But if that incident happens in the future and they are unable to compensate, then the entire loss will be on us. Therefore, in terms of long-term investment, it is definitely better to stay away from the exchange.

[Son Of Blockchain (SOB)]

Investors will never want their assets to be held by a third party. That's why I also agree with you that long-term investors will always want to keep their assets safe. When we keep our assets on the exchange, it is foolish to claim it as our own. Because then that institution can get hacked or various problems can arise. Especially recently, such a big exchange like Binance was hacked and proved how risky it is to keep our assets on the exchange. Although I heard that Binance has compensated most of their customers. But if that incident happens in the future and they are unable to compensate, then the entire loss will be on us. Therefore, in terms of long-term investment, it is definitely better to stay away from the exchange.

The thing about humans is that some can be so weird, they’ll know that what they're doing or about doing is risky but would still want to take chances and you’ll be wondering why they choose to do so knowing the consequences but then not everyone is totally okay some are really crazy.
 Cause tell me why someone who have seen what happened to other exchanges before the Binance hack would still decide to leave funds in an exchange, a long term holder for that matter who's supposed to take wallet security very seriously given that it should be in a non custodial wallet, or is it the compensations that makes them trust exchanges?

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 105,351,104 ($78,319 €69,673 £58,105)

Bitcoin fell to  🇳🇬101,787,791.5972 ($75,670) today before increasing back.

Investors will never want their assets to be held by a third party. That's why I also agree with you that long-term investors will always want to keep their assets safe. When we keep our assets on the exchange, it is foolish to claim it as our own. Because then that institution can get hacked or various problems can arise. Especially recently, such a big exchange like Binance was hacked and proved how risky it is to keep our assets on the exchange. Although I heard that Binance has compensated most of their customers. But if that incident happens in the future and they are unable to compensate, then the entire loss will be on us. Therefore, in terms of long-term investment, it is definitely better to stay away from the exchange.

Yes, investors better make use of noncustodial wallet because centralized wallet or exchanges can give unconvinces like what happened during Binance hack. Some people are still reporting that they are unable to withdraw.

[KawasakiNinja1_]

The bitcoin price today at the moment:
🇳🇬 105,351,104 ($78,319 €69,673 £58,105)

Bitcoin fell to  🇳🇬101,787,791.5972 ($75,670) today before increasing back.

Investors will never want their assets to be held by a third party. That's why I also agree with you that long-term investors will always want to keep their assets safe. When we keep our assets on the exchange, it is foolish to claim it as our own. Because then that institution can get hacked or various problems can arise. Especially recently, such a big exchange like Binance was hacked and proved how risky it is to keep our assets on the exchange. Although I heard that Binance has compensated most of their customers. But if that incident happens in the future and they are unable to compensate, then the entire loss will be on us. Therefore, in terms of long-term investment, it is definitely better to stay away from the exchange.

Yes, investors better make use of noncustodial wallet because centralized wallet or exchanges can give unconvinces like what happened during

Undoubtedly it is right that investors should use non-custodial wallets as it may be known that centralized wallets or exchanges are not reliable, but I feel that nothing is hundred percent safe when it comes to cryptocurrencies. See you may also know that hardware wallets are included in non custodial wallets but still these hardware devices are being hacked in fact hackers are so knowledgeable that they are hacking exchanges just because of minor mistakes.

Binance hack. Some people are still reporting that they are unable to withdraw.

Honestly that's the main point Binance has already launched some step-by-step withdrawal services and there are some token transfers from different networks as well but I think low liquidity or less popular networks and tokens are still undergoing security testing. So those who have such tokens may not be able to transfer then but we all know users are already able to transfer money from other networks, including Bitcoin, Ethereum, BNB Smart Chain, Solana, and more.

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 108,313,998 ($80,400 €71,510 £59,661)

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 101,107,120 ($74,900 €67,176 £56,048)

Bitcoin dipped below ₦100,000,000 recently just few minutes ago as it fell to ₦99,174,070 which is 73,468 in dollars before rising back to ₦101,107,120.0939.

I think we are in another little bear market which could be another opportunity for people to buy more bitcoin.

[BluebloodCXVI]

The bitcoin price today at the moment:
🇳🇬 101,107,120 ($74,900 €67,176 £56,048)

Bitcoin dipped below ₦100,000,000 recently just few minutes ago as it fell to ₦99,174,070 which is 73,468 in dollars before rising back to ₦101,107,120.0939.

I think we are in another little bear market which could be another opportunity for people to buy more bitcoin.

As long as our long term structure doesn’t break, i see this dip in the price of bitcoin as an opportunity for us to accumulate more rather than a reason for panic.

I feel like bitcoin price is still gonna dip more to like the 60k$-68k$ range by December especially if ETF flows stay weak or we get another leg of macro pressure.
If it does get there, it would simply be another transfer of coins from the hands of the weak to hands of the strong ones; same story as every previous cycles.

Stay consistent and follow the plan folks, HODL is the culture!!!

[Primark]

Investors will never want their assets to be held by a third party. That's why I also agree with you that long-term investors will always want to keep their assets safe. When we keep our assets on the exchange, it is foolish to claim it as our own. Because then that institution can get hacked or various problems can arise. Especially recently, such a big exchange like Binance was hacked and proved how risky it is to keep our assets on the exchange. Although I heard that Binance has compensated most of their customers. But if that incident happens in the future and they are unable to compensate, then the entire loss will be on us. Therefore, in terms of long-term investment, it is definitely better to stay away from the exchange.

The thing about humans is that some can be so weird, they’ll know that what they're doing or about doing is risky but would still want to take chances and you’ll be wondering why they choose to do so knowing the consequences but then not everyone is totally okay some are really crazy.
 Cause tell me why someone who have seen what happened to other exchanges before the Binance hack would still decide to leave funds in an exchange, a long term holder for that matter who's supposed to take wallet security very seriously given that it should be in a non custodial wallet, or is it the compensations that makes them trust exchanges?

Especially those who plan to hold Bitcoin for the long term should not rely entirely on exchanges. Of course, we have seen investors get into trouble with their money after other exchanges, including Bybit, were hacked. I think many people may also leave their assets on exchanges for this reason, because they are not confident in managing their own wallets. This can happen especially to beginners. Because they are afraid if they keep it in a custodial wallet. But if he fails to save the Recovery Phrase correctly or accidentally reveals it to someone else, then he risks losing his assets. Again, some people may think that the exchange authorities will compensate if there is a problem. But providing compensation in the past does not mean that every exchange will be able to do the same in the future.

[PremiumcryptoHub]

Investors will never want their assets to be held by a third party. That's why I also agree with you that long-term investors will always want to keep their assets safe. When we keep our assets on the exchange, it is foolish to claim it as our own. Because then that institution can get hacked or various problems can arise. Especially recently, such a big exchange like Binance was hacked and proved how risky it is to keep our assets on the exchange. Although I heard that Binance has compensated most of their customers. But if that incident happens in the future and they are unable to compensate, then the entire loss will be on us. Therefore, in terms of long-term investment, it is definitely better to stay away from the exchange.

The thing about humans is that some can be so weird, they’ll know that what they're doing or about doing is risky but would still want to take chances and you’ll be wondering why they choose to do so knowing the consequences but then not everyone is totally okay some are really crazy.
 Cause tell me why someone who have seen what happened to other exchanges before the Binance hack would still decide to leave funds in an exchange, a long term holder for that matter who's supposed to take wallet security very seriously given that it should be in a non custodial wallet, or is it the compensations that makes them trust exchanges?

Especially those who plan to hold Bitcoin for the long term should not rely entirely on exchanges. Of course, we have seen investors get into trouble with their money after other exchanges, including Bybit, were hacked. I think many people may also leave their assets on exchanges for this reason, because they are not confident in managing their own wallets. This can happen especially to beginners. Because they are afraid if they keep it in a custodial wallet. But if he fails to save the Recovery Phrase correctly or accidentally reveals it to someone else, then he risks losing his assets. Again, some people may think that the exchange authorities will compensate if there is a problem. But providing compensation in the past does not mean that every exchange will be able to do the same in the future.

For those who plan to hold Bitcoin long term or if anyone is trading, I would say that they should not completely rely on the exchanges, right now it is constantly being heard that various exchanges are being hacked, which is proof that hackers have stolen crypto from Keplr by exploiting the flaw in Web3Auth. See, those who are not yet confident in managing their own wallets and leaving their assets in exchanges may be foolish as holding bitcoins in these custodial wallets may be exposed to third parties.

Another important point you mentioned is that if someone fails to save the wallet recovery phrase correctly, their assets are lost to hackers. Also one should not be holding on to this platform in the hope that exchange authorities will compensate, as only Binance and Bitget among the exchanges hacked this year may have refunded users, so everyone should store bitcoins in non-custodial wallets.

[fredericktaylor]

The bitcoin price today at the moment:
🇳🇬 101,107,120 ($74,900 €67,176 £56,048)

Bitcoin dipped below ₦100,000,000 recently just few minutes ago as it fell to ₦99,174,070 which is 73,468 in dollars before rising back to ₦101,107,120.0939.

I think we are in another little bear market which could be another opportunity for people to buy more bitcoin.

As long as our long term structure doesn’t break, i see this dip in the price of bitcoin as an opportunity for us to accumulate more rather than a reason for panic.

I feel like bitcoin price is still gonna dip more to like the 60k$-68k$ range by December especially if ETF flows stay weak or we get another leg of macro pressure.
If it does get there, it would simply be another transfer of coins from the hands of the weak to hands of the strong ones; same story as every previous cycles.

Stay consistent and follow the plan folks, HODL is the culture!!!

Those who have truly invested consistently with a long-term plan and hold Bitcoin for a long time will not be quickly frightened by the fall of Bitcoin. They will use this opportunity to buy and keep their minds steady. They will move towards their goal with confidence. They will not be quickly disappointed by the market volatility. Looking at the market volatility, it seems that the price will decrease further at the end of the year and the price may increase from mid-2027.

But, those who accept reality and invest patiently within their means, take advantage of every opportunity, do not lose confidence in the middle and wait for good times, will be able to enjoy the benefits of Bitcoin ATH in the future. Not everyone can use the opportunity properly, those who can wait for a long time to use it properly can finally reach their goal.

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 100,065,033 ($74,250 €66,185 £55,312)

I feel like bitcoin price is still gonna dip more to like the 60k$-68k$ range by December especially if ETF flows stay weak or we get another leg of macro pressure.

I do not know if bitcoin will get to $60,000 but I think it will get below $70000. If bitcoin get to $60000, it will be an opportunity for many people that want to buy bitcoin at a lower price again. Many shorts will be liquidated.

For those who plan to hold Bitcoin long term or if anyone is trading, I would say that they should not completely rely on the exchanges, right now it is constantly being heard that various exchanges are being hacked, which is proof that hackers have stolen crypto from Keplr by exploiting the flaw in Web3Auth. See, those who are not yet confident in managing their own wallets and leaving their assets in exchanges may be foolish as holding bitcoins in these custodial wallets may be exposed to third parties.

Self-custody wallet is what holders should use which solves the it.

Kelpr is a noncustodial wallet but those that were affected are those that use Google account login or Apple account login. People that used seed phrase were not affected.

[Karl_3000]

Bitcoin dropped below 100,000,000 naira.

The bitcoin price today at the moment:
🇳🇬 99,296,767.1647 ($73,780 €66,061 £55,275)

Bitcoin dropped to 97,829,791 naira which is $72690 in dollars few hours ago from 100,696,450 naira.

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 99,165,013 ($73,427 €66,152 £55,317)

The market is looking as if there may be more fall in price. I think we are in another little bear market.

What do you think is going to happen? Will bitcoin fall below naira? That is around 70,350 in IS dollar.  But it is very important for us that want to buy more bitcoin to start buying again now for us not to miss the next bull run. Bitcoin is still going to rise again and get to all time high.

[Son Of Blockchain (SOB)]

The bitcoin price today at the moment:
🇳🇬 99,165,013 ($73,427 €66,152 £55,317)

The market is looking as if there may be more fall in price. I think we are in another little bear market.

What do you think is going to happen? Will bitcoin fall below 95 million dollars? That is around 70,350 in IS dollar.  But it is very important for us that want to buy more bitcoin to start buying again now for us not to miss the next bull run. Bitcoin is still going to rise again and get to all time high.

Although your mistake is understandable but try correct it so it doesn't end up confusing others, you meant to say 95 million Naira instead of dollars and where you said IS dollar is supposed to be US instead.
 At this point, anything is possible. The hack on the biggest exchange and the win by dems (Democrats) in the recent midterm US elections contributed to this dip, and it would still drop further cause many might be moving their money to other assets but like you said, it's not the end of Bitcoin and more opportunities to buy cheaper again ahead of the next bull run.

[Karl_3000]

Although your mistake is understandable but try correct it so it doesn't end up confusing others, you meant to say 95 million Naira instead of dollars and where you said IS dollar is supposed to be US instead.

Corrected, thanks.

[yixichloro2xx]

The bitcoin price today at the moment:
🇳🇬 99,165,013 ($73,427 €66,152 £55,317)

The market is looking as if there may be more fall in price. I think we are in another little bear market.

What do you think is going to happen? Will bitcoin fall below naira? That is around 70,350 in IS dollar.  But it is very important for us that want to buy more bitcoin to start buying again now for us not to miss the next bull run. Bitcoin is still going to rise again and get to all time high.

It's like we are heading below $70k between today and tomorrow. The price has dipped further to $71,806. I even thought that Bitcoin price could get to $90k before this year ends, looks we are back to the bear market. I remembered making a prediction in the speculation board about the effect of midterm and if USA continues their strike on Iran. We have the gotten the effect of the midterm,now we wait if the POTUS begin full escalation. If it happens I can foresee Bitcoin going lower , not only Bitcoin though, most of the financial markets might be affected. Next year might be more worst than this current year.
‎
‎I saw this news, anyone interested should read it.
‎
‎BTC/USD faces further losses as ETF outflows and Fed policy weigh on Bitcoin https://share.google/QnUMxs02tUEkiK0pg