I no 2 use local language for am and na only di 1st sentence. But you go enjoy am and like am.

When we come 2 di financial markets, weti dey be say either di path of trading or investing. Both strategies na geared towards making money, but are inherently different in their approach, time investment and risk. To make it easier for you to decide what may be the best path, let’s look into each of these professions individually.

TRADING
Trading is often likened to a high-speed race. It’s quick, intense, and calls for quick decision making. Traders seek to capitalize on short-term price fluctuations in assets such as stocks, currencies, or commodities. Trading is mostly about the short term and rarely about long term. Some traders, known as scalpers, hold positions for just seconds or minutes, aiming to profit from tiny price changes. Day traders buy and sell within the same day, while swing traders may hold positions for several days or weeks to capitalise on short-term trends.
Trading cares less about long-term asset value and more about the direction of the market right at the moment. This is the reason traders strongly rely on technical analysis, which is basically the study of price charts, patterns, and the use of tools like indicators, RSI (Relative Strength Index), Candle stick pattern, etc making traders prone to market volatilily which makes trading risky. Traders need strong emotional discipline to handle the heat of making split-second trading decisions that can lose them thousands of dollars in the blink of an eye.

Additionally, frequent buying and selling lead to higher transaction costs, with brokers including things like commissions, spreads, and fees which can eat into profits. These costs can add up quickly, making it essential for traders to factor them into their strategies. There is long term and short term Traders and short term Traders are more than long term Traders. More details as you read further. Crypto Trading is much more riskier than Fiat Trading because of  it volatile nature. Crypto is unpredictable currency, mostly bitcoin while fiat currency is stable currency so traders in bitcoin can't predict the nearest outcome of the market.

Pros of Trading
1.With trading, there is potential for traders to generate significant returns in a short period of time by capitalizing on market volatily
2.Traders can easily adapt to market changes and switched between different assets and strategies as they rely mostly on technical analysis
3.Unlike investing, which relies mostly on price appreciation, trading allows for profit in any market direction. This means that even in a bullish market, traders can sell, profiting from liquidity grabs (retracement) before trend continuation.
4.In trading, there is availability of leverage (borrowed money) which can amplify traders return in a successful trade.
5. They used risk management tools like Take Profit and Stop Loss (TP/SL).

Cons of Trading
1.Trading is riskier than investing because the market is basically engineered to prey on traders. Short term positions are vulnerable to stop hunts, fake breakouts and liquidity grabs
2.Trading requires significant time and effort because traders need a deep understanding of market dynamics to monitor market conditions and actively manage trades and also stay updated on news and events that will likely impact the market.
3.The fast-paced nature of trading can take a toll on traders emotions. FOMO(Fear Of Missing Out) and greed can cloud judgement and lead to impulsive actions.
4.While leverage can amplify potential profits, it also amplifies potential losses.

INVESTING
If trading is a sprint, investing is more of a marathon. A more deliberate path to wealth, a slower path, focusing on your long-term story(the bigger picture) than hoping for a giant one-off windfall.
Investing is always about the long term. Investors purchase assets like stocks, bonds, or real estate hoping they will rise in value with time often through the sheer power of basic math: compounding. They are willing to wait years or even decades making asset owners generally less exposed to market swings and so lower risk than trading. Value investors look for stocks that are undervalued, growth investors look for stocks with high growth potential, whereas dividend investors aim stocks with regular dividend payouts.
Investments rely heavily on fundamental analysis to make decisions and they do so by digging into a company’s financial statements, evaluating its management team and it’s position withing the industry.
Contrary to trading, investors are less likely to come under pressure. What they need is patience as they know that markets will inevitably experience ups and downs.
 Lastly, Investment requires less transactions which automatically leads to lesser fees thus making investment a cost effective option for low risk takers.

Pros of Investing
1.Investing is less risky when compared to trading as it focuses more on long-term growth without fear of market volatility.
2.Investing requires less active management than trading.
3.Most investments, such as dividend-paying stocks and bonds, generate passive income streams, providing a steady flow of cash.
4.Many investments, such as dividend-paying stocks and bonds, generate passive income streams, providing a steady flow of cash.
5.Profits from investments are typically taxed at a lower rate than ordinary income.

Cons of Investing
1.Investing typically generates slower returns than trading, as it relies on long-term growth rather than short-term price fluctuations.
2.While investments are considered more stable over trading, they're not completely free from the risk of losing value when overall market conditions are poor. Investors endure prolonged drawdowns, while traders can profit from both rising and falling markets.
3.Investing involves little to no leverage which can reduce potential returns when compared to trading.

Conclusion:
Bitcoin being a digital currency in the world has been used in the trading field for a very large scale but seconded to the US dollar in general. But from the perspective of the youth, bitcoin is the highest trading currency digitally. The profit is depends on the mathematical calculation of the trading. Mostly the tools.

Investment in the area of store of value Bitcoin is the highest even more than the US dollar because it is volatile and US dollar is stable coin. But it is the longevity of the investment that determines the investor's profit. You can still make profit within a short period of time but it will not huge as the long term investment.

Unlike the fiat that relies on the central bank and governments for its stability, Bitcoin is decentralised and independent on control which is both it's strength and its weakness. investors also used DCA tool to lessing their burden/heavy investment at once.

Na di main board own bi dis Two Paths to Financial Growth: Trading vs Investing

We know say when we de talk about our economic condition, na one of the major thing when almost all of us de easily relate with and because of this, I just say make I give us one or two economic advice when fit help us do well come 2024.

1.    Be smart in predicting the economic challenge peculiar with each season:  every season for our country de get problems when e de bring along and knowing this go help us make plans ahead on how to take avoid am. An example na this fuel and money scarcity when de normally happen every December, if like say we de always plan our selves well and we de keep some physical cash with us when fit carry us throughout the period, e for no de worry us d way e de do us now.

2.    Be prepared to adapt to changes: we know say things don too change for so many sectors and some of us never really de put in effort to embracing these changes, whichever field you de into, try ensure say you de updated with the current way of doing things so you won't be seen as someone that lacks value and a replacement sort in your place. If it requires you to take up a course, do so and ensure you are improving on a  regular so the world won't move on and leave you behind.

3.    Look for multiple streams of income that is parallel:   this one na him de important pass because with the way problem de come every year, we know go fit tell wetin 2024 De bring to the table so I go advice say as long as you de earn online, make you also see say you get wetin go de fetch

 You money for the physical space. No eat all your money when he come into your hand, save some and invest some into business. Their is a lot of advantages in having multiple steams of income that are parallel, by parallel I mean that it's best one should be online and another, offline.
The covid thought me mad lesson that financial crisis can hit any man if proper plan is not on ground. Be wise.

4    Regulate your spending and don't show people how much you own : this is very important because we know how entitled our people can be sometimes most especially when they know how much you are earning, they will choke you with bills and if care is not taken you will have little or nothing in your savings. Spend less and save or invest more, no go de allow pressure and comparison push you to doing things you are not financially ready to start doing, work on your pace and spend only when it's necessary to do so.

  Conclusively, be wise with your decisions and don't joke with your financial life, be very flexible as it regards changing your method of doing things when the need arises, don't get stuck in an obsolete way of doing things and later you complain of economic this or that, bitcointalk members an correct people when he wise and I believe say we go do great things together come 2024.

Happy new year in advance nija board.   

Me dey always talk an any investment or anything wey no go double my money, count me out my hand no dey I no follow. Now wetting go double my money I dey do no matter the risk wey dey inside an.

Normally investing in bitcoin or saving your money for bank get there own advantages and disadvantages, which I go list them here, so that you go chose wisely if you go take the risk grow your money, or you go carry give bank make them use an grow thereself from that bitcoin wey you dey fear to put money.

Advantages of investing in bitcoin
1, bitcoin get high potential returns, if you put your in bitcoin, bitcoin dey deliver, because ehh don already prove ehh self to be store of value.
2, bitcoin dey operate for wetting oyibo call network wey dey discentralize, so if you put you money inside ehh dey secure, person no go fit touch an.
3, bitcoin get limited supply, them no dey supply bitcoin anyhow, now wetting dey make an maintain ehh value bit that.
4, many countries don adopt bitcoin as their means of payment and store of value, so if you put your money in bitcoin everywhere good.

Disadvantages
1, Bitcoin get high risk, the price dey fluctuate rapidly and unpredictable oh, so ehh fit give you high blood pressure if you mind no reach.
2, bitcoin price go fit drop within a short period of time, that is to say you go fit put like 100k ehh fit drop to 60k or 70k and ehh fit make your BP raise if your mind no reach.
3, for bitcoin now you go scure your money by yourself, so if you lost your wallet key seeds now buy buy be that oh and person fit still steal your bitcoin from your wallet if you no scure an well.

Saving your money for bank advantages
1, for bank you go fit go collect your money anytime wey you need an no wahala.
2, bank get low risk, if you put your money inside bank  high blood pressure no go see you catch.
3, if you save your money for bank you fit dey see small small money.
4, bank get people wey you go go catch if anything do you money.

Disadvantages
1, Bank get low return, nothing dey come out if you put your money for bank, for example if you put 100k for bank for 6 years now only 500 naira fit be your top up.
2, bank go charge you fees for services and maintenance, that small top up wey bank give you, bank go still collect an back, and bank go still collect from your money too, which you loose bank go gain from your money wey you put.
3, bank go dey use your money dey investment for that bitcoin wey you dey fear, dey get massive profits with your money.

As cryptocurrency users, we've all heard horror stories about exchanges being hacked or shut down, resulting in lost funds. Yet, many of us still store our coins on exchange accounts, putting our digital assets at risk.Storing your cryptocurrency on an exchange can be convenient, but it's not worth the risk. Exchanges are vulnerable to hacking, and even if you think your coins are safe, you're still trusting a third party to secure your assets.

In contrast, non-custodial wallets offer a much higher level of security and control. By storing your coins offline and managing your own private keys, you can ensure that your digital assets are truly yours.

So, why do so many of people still rely on exchanges? Is it convenience? Lack of knowledge? Or something else? I've noticed this as a common mistake among many cryptocurrency users, both on and off this forum. Despite some claiming to store their coins offline in non-custodial wallets, most users still store their coins on exchange accounts. I strongly believe this is a mistake.

Last year, our government targeted exchanges operating in the country, causing sudden shutdowns without warning. Many users lost their coins as a result.

Having your own wallet is safer and more secure. You control your coins and their safety. Writing down your seed phrase and storing it securely isn't difficult.Unfortunately, some users store their seed phrases in their Gmail accounts, believing it's safer. However, hackers can access email accounts, and it's not a secure storage solution.There are many safe and reliable wallets available. I recommend using them and spreading the word about the dangers of storing coins on exchanges and keeping keys online.

If you're considering storing your coins online, add a passphrase to your wallet. Choose a unique phrase, not a common word or phrase found online, it can even be a word in your local dialect. This will add an extra layer of security.Remember, securing your coins is the most important. We all know how challenging times are in our country. Stay safe and protect your assets.

It is very important to have your coins stored safe from any hacker.
It's your coins and you need to protect it.

When you have coins but connected or stored in a online wallet and a hacker connects to your computer, he can steal your coins!

Solution is: try to avoid online wallet and instead only use paper wallet, here from MEW where you can really generate your keys offline where never a hacker can see your private keys because it is always generated offline. Note private and public key on paper, save it at a USB stick and never store it at your computer when it's online.


Always offline creation will give hackers no access to your private key:

MEW offline is even more safe compared to hardware wallet like Ledger or Trezor. At MEW offline, you are creating your private keys yourself and have full control about creating it. Nobody knows which person at Ledger created your private key and if he has noted your private key. Also, when sending a transaction you need to connect Ledger to your online device, if you re-use addresses and a hacker has connected before, you would need to generate completely new address.
Hardware wallet like Ledger also stores your data which is very bad for privacy. When Ledger personal data was hacked recently, many people were affected. No coins were stolen but personal data. Such accident can never happen at MEW because MEW is not a company, you personal data is never collected and never stored. Yourself has full control when creating an original MEW paper wallet. MEW  paper wallet is real, encrypted Ethereum original code!


Someone made a tutorial about how to create a MEW offline wallet and he is expert for computer scientist. He really knows coding well and has made a great tutorial, first part is about creatin address: https://feest.io/generate-offline-ethereum-wallet/

It is easy described step by step how you can create a MEW offline paper wallet.


Today, MEW looks a bit different but MEW offline is still available at GitHub. It will be even possible to create MEW offline paper wallet in 100 years offline MEW because it's based on MEW original code. It's 100% encoded Ethereum technology!!

MEW available on GitHub: https://github.com/MyEtherWallet/MyEtherWallet/releases

You need only to make sure to save your keys offline on paper at a private location, where it's safe.

Load it using "File->Restore" and it'll be copied to the correct folder then it will be loaded automatically.
Migrating a legacy to descriptor wallet isn't mandatory as of now.

After that, export the wallet's addresses or public keys (for p2pkh) or redeem scripts if you have any (for P2SH, rarely used in 2013).
One way to do that is to use dumpwallet command but addresstype=legacy has to be added to your bitcoin.conf file (requires restart) for it to output legacy addresses.

• bitcoincore.org/en/doc/29.0.0/rpc/wallet/dumpwallet

You'll need a watch-only wallet in your online Bitcoin Core for that.
Create one by ticking "Disable Private Keys" during Create Wallet process.

You can then import the addresses, public keys or redeem scripts contained in your offline Bitcoin Core wallet via importdescriptors command.
References for you to check how to use it:

• bitcoincore.org/en/doc/29.0.0/rpc/wallet/importdescriptors (use timestamp "now" to skip rescan)
• github.com/bitcoin/bitcoin/blob/master/doc/descriptors.md

(this part is tedious since your wallet isn't HD, you wont be able to utilize extended public keys)

Rescan the wallet/sync the node, then tick "Enable coin-control features" in the 'Settings->Options' and you'll be able to select specific UTXO in the 'Send' tab.
Using the 'Send' tab of you watch-only wallet will let you create a PSBT that you can send to your offline wallet.

@Dontbeatool2
If you post the wrong script then why don't you edit your post with the wrong script and replace it with the correct one?

And please, post code in [code]...[/code] tags, not only for better readability but mainly for the reason that the forum code may gobble up certain character sequences in your code because they may be interpreted as bbcode or sometimes smileys (you know that e.g. [i] isn't that uncommon in code, guess what happens if that were in your code snippets posted like you did).

Additionally you violate forum rule #32 (see here for rules to avoid possible trouble).


I'm not soo deep in the technicalities of the method using Kangaroos. Do you (or anybody else) mind explaining in more or less short words why there's such a significant penalty by splitting the range? I struggle a bit at the moment to wrap my head around for an explanation.

If that's is so, than splitting the range to distribute work to multiple GPUs seems not the time and energy efficient way. What's the more efficient work load distribution method? Distributing the number of Kangaroos over multiple GPUs all working on the same range? How to sync efficiently?

My apologies, I'm probably too much of only an interested bystander whose brain has been (partially?) fried by too much of let's say sub-par thought-out ideas and brain-dead chit-chat in the mega threads
Bitcoin puzzle transaction ~32 BTC prize to who solves it
== Bitcoin challenge transaction: ~1000 BTC total bounty to solvers! ==UPDATED==


You may have a point. Questions should always be possible. It's sometimes easier to bark than to wiggle the tail or be constructive, call it whatever you want. Questions are sometimes or more often misinterpreted as stupid or lazyness or whatever, highly depends on the question and its perception by others which is also highly subjective. It happens that others react harsh, me included, when newbies step in and "do their thing" (no pun intended, everybody here once was a newbie).

It's good to point that out, helps to reflect if ones own response is actually appropriate.

The Nigeria Securities and Exchange Commission (“SEC”) by a press release issued on August 29, 2024, announced that it has granted two Digital Asset Exchanges an “Approval in Principle” under the Accelerated Regulatory Incubation Program (“ARIP”). The framework for ARIP was introduced by SEC in June 2024 (see our previous newsletter for details) for the purpose of onboarding virtual asset exchange companies.

With this new update there is more clarity on the regulatory requirements for companies wishing to provide crypto trading services in Nigeria.  In view of the forgoing we have set out guidelines for companies wishing to provide crypto trading services in Nigeria.

1. Are all Crypto Trading Companies Required to Register with SEC?

Yes, all digital exchanges and platforms wishing to provide crypto trading services in Nigeria are required to register under ARIP and obtain the approval of SEC in order to provide such services in Nigeria.

2. What Approval will be Issued by SEC to Qualified Companies.

Upon undergoing registration under ARIP, an Approval in Principle will be granted to eligible companies. Once the condition for the Approval in Principle given by SEC has been satisfied by the company, the company will then be given full registration by SEC.

3. Is the Company required to be Incorporated in Nigeria?

Yes, all companies wishing to provide crypto trading services must be registered with the Corporate Affairs Commission (CAC). The Certificate of Incorporation is one of the documents that is required to be shown for registration under the ARIP.

4. Registration Requirements

According to the rules set by SEC, digital asset exchanges specifically are required to have a minimum paid-up capital of 500 million naira and must maintain a fidelity bond covering 25% of the paid-up capital of the company. Additionally, the Chief Executive officer and other principal officers of the company must possess relevant university degrees and at least five years of cognate experience. Furthermore, digital asset exchanges must obtain a “No Objection” letter from SEC before commencing its operations and trading any virtual or digital assets.

5. Do these rules apply to Foreign Business wishing to

operate Crypto Trading Companies in Nigeria?
Yes, these rules apply to foreign companies wishing to provide crypto trading services in Nigeria including incorporating a company with the CAC for the purpose of providing the services.


As the market for digital assets continues to grow, businesses interested in entering this space must ensure full compliance with the regulatory requirements set out by SEC and other relevant authorities.

We advise that companies wishing to provide crypto trading  services work closely with their legal advisors to ensure that they successfully operate within the confines of the relevant regulations.

Source.
https://pavestoneslegal.com/operating-a-crypto-trading-company-in-nigeria-regulatory-requirements/#:~:text=Yes%2C%20all%20digital%20exchanges%20and,provide%20such%20services%20in%20Nigeria.

Omo i nor know if anybody for here don first experience or get person way don experience this matter way be whatsapp hack. One of my guy message me for whatsapp on monday say make i help m transfer money go one account way he go send me bcos he don reach he transfer limit but I thank God say the money way he be dey ask for nor dey my account at that time bcos I go for send m fast for am, since I know say he dey highly capable to pay back.

But yesterday my guy cor post for whatsapp status say make everybody way receive that message nor vest, say person be hack he account and he just recently get am back. The thing suprise me and i cor ask am say why he nor vest set 2 step verification for he whatsapp, he say he never first reason that side.

I bring this thing come here say make we dey cautious online, even if we know person well well, nor mean say hackers nor fit get the person account and so anytime person way dey close to us ask us for money (including bitcoin) or any sensitive information from us, make we dey careful and try to see the person first physically or at least call the person to verify bcos things dey happen online, infact even for our bitcointalk forum so, account hack don dey common, we dey see as some of our members of this forum way don come out, cor talk say nor be them borrow money with their own account and come out with proof and now since person way be wan help person now cor dey get their money back, to borrow for here nor cor easy as bfor.

My other advice na be say make anybody way never set 2 step verification for Whatsapp or any other social media account way he/she go set am. 2 step verification get different ones, just observe m and check the one way dey well and secure for, Nor go use over protectivenes tel lock account.
See YouTube video on how to set 2 step verification on WhatsApp and Facebook
Facebook and WhatsApp

Also you fit check this site for ways to set up 2 step verification for other social media and platforms.
How to set up two-factor authentication on your online services

Omo i nor know if anybody for here don first experience or get person way don experience this matter way be whatsapp hack. One of my guy message me for whatsapp on monday say make i help m transfer money go one account way he go send me bcos he don reach he transfer limit but I thank God say the money way he be dey ask for nor dey my account at that time bcos I go for send m fast for am, since I know say he dey highly capable to pay back.

But yesterday my guy cor post for whatsapp status say make everybody way receive that message nor vest, say person be hack he account and he just recently get am back. The thing suprise me and i cor ask am say why he nor vest set 2 step verification for he whatsapp, he say he never first reason that side.

I bring this thing come here say make we dey cautious online, even if we know person well well, nor mean say hackers nor fit get the person account and so anytime person way dey close to us ask us for money (including bitcoin) or any sensitive information from us, make we dey careful and try to see the person first physically or at least call the person to verify bcos things dey happen online, infact even for our bitcointalk forum so, account hack don dey common, we dey see as some of our members of this forum way don come out, cor talk say nor be them borrow money with their own account and come out with proof and now since person way be wan help person now cor dey get their money back, to borrow for here nor cor easy as bfor.

My other advice na be say make anybody way never set 2 step verification for Whatsapp or any other social media account way he/she go set am. 2 step verification get different ones, just observe m and check the one way dey well and secure for, Nor go use over protectivenes tel lock account.
See YouTube video on how to set 2 step verification on WhatsApp and Facebook
Facebook and WhatsApp

Also you fit check this site for ways to set up 2 step verification for other social media and platforms.
How to set up two-factor authentication on your online services

Although, this is not new to us on this local board. In the Financial Act 2023, 10% capital gain tax for bitcoin and other cryptocurrencies was included and has been signed. But how about crypto regulation in Nigeria?


Continue to read on this link there are more to read: https://cointelegraph.com/news/nigerian-crypto-tax-move-is-premature-local-stakeholders

We have people of wisdom in Nigeria, but why the process to do something correctly is hard in the country. Nigeria need to be fast on regulating cryptocurrencies. The suspended CBN president failed to see how Nigeria government will earn from regulating cryptocurrencies, how cryptocurrencies will increase Nigeria economic growth and development and how it will increase employment. Even without regulation, employment increased and many Nigerians depends on crypto job as of today.

The SEC regulates securities and commodities in Nigeria, no doubt they are the best for this and work with law makers. I have not seen any law maker that is directly interested in crypto regulation. Also nothing about it coming from the president or the ministry of finance. SEC needs to be fast about this and work with ministry of Finance and the law makers. Or any of them should be fast about this.

In Africa, Namibia has passed a bill to regulate cryptocurrencies. South Africa will finally have a bill to regulate cryptocurrencies by the end of this year. When is Nigeria crypto regulation coming?

https://cointelegraph.com/news/nigerian-crypto-tax-move-is-premature-local-stakeholders
https://cryptonews.com/news/namibia-passes-bill-for-licensing-regulating-virtual-asset-service-providers.htm
https://www.bloomberg.com/news/articles/2023-07-04/south-africa-to-require-crypto-exchanges-licensing-by-year-end

Just as the title of this thread talk, I just came across this news this early morning saying how our Nigerian banks done send email to all their customers yesterday being Wednesday 21th June 2023, saying no more forex at CBN rate, and I talk say make I share am here make una shoke mouth for the matter, whether abi you don receive any message from your bank and abeg wetin dem talk? because me I'm yet to receive any from my 2 banks (Fcmb & Access).
However, here na the complete gist given below...

Commercial banks in Nigeria have sent out messages to their customers updating them on changes to foreign exchange policy as recently announced by the central bank, regarding the determination of exchange rates, emphasizing that the central bank no longer sets the rate. As customers now need to understand that the exchange rates will no longer be fixed and will instead be determined by the prevailing market rate at the Investors and Exporters (I&E) window. This knowledge empowers customers to make informed decisions and manage their foreign exchange requirements more effectively.
Informing customers about the removal of fixed exchange rates is crucial for managing expectations. Previously, customers may have relied on stable exchange rates set by the central bank for their forex transactions.
By notifying customers that these fixed rates are no longer applicable, banks prevent any false expectations and ensure that customers are aware of the potential fluctuations in exchange rates, which could impact their transactions.
The change in exchange rate determination directly affects customers’ financial transactions. With the shift to market-driven rates, customers can no longer rely on purchasing forex at fixed rates.
This notification enables customers to plan their forex purchases accordingly and consider market fluctuations that might affect the cost of their transactions. This is why they insist that the customers fully fund their accounts “at all times.”
Source:. https://nairametrics.com/2023/06/21/banks-send-emails-to-customers-no-more-forex-at-cbn-rates/



Secondly, same yesterday (21st June 2023), I observed say the value of Naira don depreciates again, as it was sold at value N763.17/$1 at official market rate, while black market both on Binance & Remitano sold almost at the same rate of N765-769/$1 (Abi is that what the unification is all about?)

Source: https://nairametrics.com/2023/06/21/currency-update-official-exchange-rate-strengthens-to-n462-13-1-on-april-26th/


So what's your opinion on any of these two updates??