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Showing 20 of 310 results by Bitco55
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Board Economics
Re: I'm wealthy and unsuccessful
by
Bitco55
on 29/08/2025, 09:15:54 UTC
So I moved back to my rural hometown after long years of building a career in the capital city, met up some friends I haven't seen for ages. Hanged out, got to my story and their first question was where did I buy my house. I told them I didn't, I'm in a rental property like I've always been. It was strange at first but then I realized I was their idol, the "rich guy who made it". Then got on to other topics. "So what car do you have?" I told em, I dont have a car. "Fuck it bro, at least did you travel the world?" - Not yet. With 3 questions and 3 answers, I made their whole world view collapse. "Are you even wealthy bro?" Yessiriam. I consider myself wealthy. What makes a man wealthy? Having options. If I'd like, I could buy the house, buy the car or travel the world. I didn't because it's not financially the right decision, at least it wasn't at that moment.

There was a question a few days ago here, someone coined what could be the biggest problem with economies. This is one of them, for sure. People can't differentiate assets and liabilities. They think they own the house, they claim they own the car, and in the meantime they're in utter debt. People strive to take on liabilities instead of building wealth which consists of assets (favorably hard or income-generating assets). They discount their time, become corporate slaves just to keep up with the illusion of their lifestyles they ought to show to the outside world.

And I see this everywhere. The four of us in the room all came from the same school. Same age. Same opportunities. Three wheeling in heavy debt, trynna keep it up with side hustles. One with a positive balance who never needs to be a corporate slave again.

What is your definition of success and wealth? cause from the topic, i really don't get how you're wealthy yet not successful. Personally, i think you're successful but not wealthy instead. You talked about how people don't understand the difference between assets and liabilities, and i get your pov of how a house and a car aren't assets but liabilities, but don't you think renting a house and not having a car is a liability ? i think a thing can be an asset or a liability depending on how you see it and how you use it. Having a house saves you from having to pay rent monthly or annually. The difference between the money for renting and for owning a house may seem small now until its accumulated over times. In 10- 15 years, the aggregate of your rent might be more than enough to get a house. that house, you can stay there for as long and you want and even rent it out when you're tired of it. Same goes for a car. Not having one might might make you loose opportunities and time.

Maybe to you having these things may be liabilities, but to your friends they are assets. And if you don't have any asset my friend, then you're not considered wealthy, cause the measure for wealth isn't how much cash you have, its how much assets and investments you made.  
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Topic
Board Economics
Re: How do developing countries end up escaping poverty?
by
Bitco55
on 28/08/2025, 08:08:38 UTC
Developing countries escaping poverty is not unheard of and in fact a lot of the strongest economies now are ones that used to struggle before. China used to be called the sleeping giant because it was believed to be of potential. And that was right. But the question is why is it that those countries got out of poverty while some did not?

Well the answers have a lot of factors involved. Each country should have their own strengths that they could exploit. Some countries made use of their resources to make products that they could offer to the rest of the world. They depended a lot on exporting goods to other countries inviting money into theirs. Some countries focused on education making their young generations literate and skilled workers boosting their economy productivity. Most of all, these are all possible because of the low level of corruption. I did not say totally free because that seems to be a myth lol.

So what do you think is your country missing to get out of being a third world country stage?


What I'd say my country needs to get out of poverty is concentrated industrialization, technology and innovation, increased security, and good governance. The development of a country is influenced by many factors, and sometimes, some of these factors are linked together. They affect each other in positive and negative ways.

Say,  for instance, when a country is secure, it'll attract tourists and foreign investors. This would in turn increase the GDP of that country. Technology and innovation aids industrialization. A country with bad governance can't grow nor develop. Carrying out business activities would be difficult, and bad policies hinders growth.
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Board Nigeria (Naija)
Re: Don't discouraged me that am wasting my time investment in bitcoin
by
Bitco55
on 25/08/2025, 08:04:11 UTC
Many people are very good in discouraging others from pursuing their dreams, and  that is very bad, never you look back in your investment journey, don't be discourage by the present dip, always look beyond today and see the great potential of Bitcoin ahead .
Many will feel its taking  too long, many will feel is too expensive to buy, but regardless of all this  challenges keep pushing, don't relent, one day does trying to pull you out of track, those laughing at you will join and celebrate you.

Yes. Discouragement is unnecessary struggle especially when you know the market always moves in cycles and a dip is just a setup for bigger gains later. The internet has more information that people. Paying attention to their doubts would get you no where. It's better to stay consistent and patient with your investments.
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Topic
Board Economics
Re: Money or resourcefulness?
by
Bitco55
on 25/08/2025, 07:49:33 UTC
In today's economy, if you want to get richer which one would you want more? Money to kickstart your idea or career... or just creativity and resourcefulness? With social media being more important in the economy and creation of jobs, anything is honestly possible now.

Yes, there are still things you will need that require money but it is not much money compared to before. So many jobs are created from the internet. So many people can reach out to you and help you if they take interest in what you do. So, for me even though money will make things easier... resourcefulness can really help you be richer. Will you agree?

If one wants to be truly rich and stay rich... Then both is needed and important. But if one is to pick a side, the resourcefulness is quite important. Money without brains is a waste, but resourcefulness can help build wealth and multiply wealth if you have money. History is filled with entrepreneurs who started out broke with just their idea and their creativity, and they made it. They became successful. Though not having money for your business venture may be a real struggle, having the brains for it would definitely pay off more.
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Board Nigeria (Naija)
Re: If this not Bitcoin don't invest
by
Bitco55
on 24/08/2025, 21:31:34 UTC
I will tell you for free that every altcoins is design in one way or the other to sort for funds from the public. This is the mechanism put in place to make you believe it will yield positive result at the end.

My observation
The owners of altcoins have one thing in mind , to catch out from your invested money on there coins and start up a new business or to support their existing business or to invest the money on bitcoins itself. So it easier for them to pull out the money from the exchanges forcing the price to hit zero.

If they have good mind , they can pump in money later when they have made profit from the business. If the business collapse or target not met, the coins automatically die.

No matter how promising an altcoins can be , bear in mind that the owners has his own reason for creating them which might not be made known on the white paper.  If it is not bitcoins , stay away from shit coins with hundreds of empty promises.


When it comes to crypto investments, or any investment at all, risk management and proper research is key. Though Bitcoin might be the most secure and established of cryptocurrency, I wouldn't say all altcoins aren't worth investing in. Some are definitely overhyped and are built to fail but some are actually really good, solving real problems, and have really strong use cases.

So, it all boils down to proper research. If you want to make an investment, it's best to invest in Bitcoin though, but if you want to diversify your investment, then make proper research.
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Topic
Board Economics
Re: Be grateful for what you have now
by
Bitco55
on 21/08/2025, 09:29:15 UTC
Quote
Staying in your current job is not a problem, even if you feel uncomfortable. Sometimes what we need is not a pleasant job, but a job that can still provide us with an income.

Many people out there don't even have a job to earn money, and are still struggling to search for one. So we can stay with our current job while we search for others.

I saw that post on my Facebook feed and thought about it. It's true.
If we're still working in our current job, we're still luckier than those out there who are still struggling to find a job.

Don't waste it by thinking short-term about leaving your job before you can find a replacement. There will come a time when we can find something better than this.

So, hang on a little longer and enjoy what we have and be grateful for it.

note: I use grammarly to make it readable.

This sounds a little bit like we should be happy to stay at our current jobs and think of it as something that'll pay in the long run. Dude, whatever pay you're receiving, if it's not ok now it'll be way worse even in the long run. Your priorities would increase, your bills, your needs, your responsibilities, but your income? ... Still the same.

Not saying we ought to leave our jobs, stay unemployed and search for a new job that will magically satisfy all our needs people work 2- 3 jobs... People freelance while staying at their salary paying jobs, people even run small businesses. You can never be too sure with the economy. Job security is like a drug, depending so much on it could be dangerous, but it doesn't mean you don't need. Staying on your current job isn't wrong, even if it's not satisfying all your needs, but since it's not satisfying all your needs, one should have a plan B, C, maybe even a D.
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Topic
Board Economics
Re: To have kids or not to? Your opinion from economy perspective
by
Bitco55
on 21/08/2025, 09:16:25 UTC
Well it depends... Personally I think it depends. You can't decide to not have kids till the economy becomes better, what if the economy never becomes better? Or at least never becomes better during your time on earth, are you never going to have kids then? But at the same time, having kids, not just 1, 2, or 3, but over 5, 6 and so on, when you're not capable of taking care of all of them is bad. Why bring them all into the world only for them to suffer?  You should rather leave them where they were.

So, I'd say no matter how tough the economy is, a person can raise a child or 2. Even before getting married and having children, you should save for your children. No matter how little you earn, one should be able to put down a thing or two for their children in the future. And also, try not to give birth to many children.
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Board Bitcoin Discussion
Merits 1 from 1 user
Re: Learn And Earn Through Bitcoin Investment.
by
Bitco55
on 18/02/2025, 11:38:42 UTC
⭐ Merited by Ojima-ojo (1)
Despite the fact that I believe you can't " learn it all" when it comes to investments, I believe prior knowledge is still very important. When it comes to investments, trusting your guts and preparing for a few losses is also important. Some may invest with lots of knowledge and information, loose a little and give up. We ought to know that as investors your going to loose some and win some, but learning reduces the chances of losses.
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Board Services
Re: 👉{OPEN} ▄■▀■▄🌟Bitvest.io🌟 - Plinko Signature Campaign, Member+ {Funds Escrow}
by
Bitco55
on 16/02/2025, 06:18:00 UTC
Bitcointalk username: Bitco55
Rank: Member
Post count: 291
Segwit BTC address: bc1qr4965yn4vfvu5j6lzjvlz6kcegka9maqkvv93f
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Board Services
Re: BETKIN | SIGNATURE CAMPAIGN |BTC PAYMENT| FUNDS ESCROWED| EARN UPTO 130$🐯🐯🐯
by
Bitco55
on 16/02/2025, 06:13:26 UTC
BETKIN Account name: Bitco265
Bitcointalk user name: Bitco55
Post count: 290
Rank: Member
Segwit BTC address: bc1qr4965yn4vfvu5j6lzjvlz6kcegka9maqkvv93f
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Board Nigeria (Naija)
Re: what is the future of bitcoin in Nigeria?
by
Bitco55
on 08/11/2024, 06:46:37 UTC
In as much as Bitcoin is decentralized and may not directly affect our economy, it'll still help us in many ways, such as; impact on our mentality. Excuse me but, if we had the right monetary/ economic mentality in this country, then I doubt we'll be in such a downturn. Even though it's a mentality for our personal finance, if at least 45% had the right knowledge about finance, it'll help our country in diverse ways. A shift in mentality is probably the most important thing we need now in the country, and Bitcoin is helping in that area. People who don't believe in savings and investment, now invest in Bitcoin and hodl it.

From the shift in mentality and acquisition of valuable knowledge, we can have other effects like, more people who want to be in the manufacturing sector of the country, more people who want to go into politics, more people who want to help the agricultural sector of the country. Then comes industrialization, and other nice things which we hope for. So Bitcoin, if utilized properly in our country would help us build a good future for ourselves and our country.
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Board Nigeria (Naija)
Re: Just Thinking out Loud: How Strong Do You Believe In Blockchain and crypto
by
Bitco55
on 28/08/2024, 11:39:23 UTC
We have seen how and where the governments are heading with how they are treating cryptocurrency exchanges. If this industry could make a living for the youths and our leaders a clamping down on it for whatever reasons they may have and we can see that it where technology is heading, what do you think will become of it in the future, won't they ban it totally? And people who are moderators and crypto ambassadors, tech guys developers, how will they survive, can people coming behind still make crypto a career.

I think it'd be best we stop worrying about the government decisions on cryptocurrencies. Even if the government has plans of banning cryptocurrency, it won't be carried out anytime soon. Besides their decisions concerning crypto are usually inconsistent.

Instead, we should focus on how to utilize Bitcoin individually and societally, to the fullest. I believe in the Blockchain technology and cryptocurrency. I believe, if we use it properly, we'd be able to not only save ourselves, but gradually save our country. 
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Topic
Board Economics
Re: You Can’t Earn Beyond Your Level of Understanding
by
Bitco55
on 27/08/2024, 08:45:34 UTC
It’s easy to think getting rich comes down to luck, connections, or simply working harder. But the real game-changer lies in your mindset. Without understanding how investments work, you’re likely to lose money in the market. Jumping into a business without knowing the risks and challenges often leads to failure. Your ability to spot opportunities and sidestep traps is directly tied to how much you know. The more you grow your understanding, the more you unlock the potential for wealth.

However,let’s be honest: We’re all operating within a system designed to push us toward spending and debt. Capitalism thrives on consumption, with everything — from ads to social media to the way jobs are structured — nudging us to chase the next shiny thing.his fuels dissatisfaction and endless comparison, making it harder to stay focused on what truly matters.

You know, when I first saw the topic of the thread, I said to myself " but there are people who are really smart but still don't earn" and this is true. But reading through the posts and comments, I see it talked about spotting opportunities, the right mindset, avoiding societal traps, etcetera, and how all these could be linked to one's financial understanding. That's true, but I won't directly connect one's ability to earn to their understanding, what I can directly connect ones ability to earn to is their courage and the bravery to take a step despite the risk. I've seen people who are literal illiterates and still earn. They hire people who are smart enough to do the hard maths for them and they do their stuff.

All these factors individually, learning about investments, getting a skill, identifying opportunities, and so on, are all useless if you can't take action. So, I'd rather say " you can't earn beyond your level of courage/ability to face risks".
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Topic
Board Nigeria (Naija)
Re: Can Bitcoin help to reduce crime?
by
Bitco55
on 23/08/2024, 04:57:08 UTC
I'm not really sure Bitcoin has turned many youths away from criminal activities though, except when you talk about criminal activities and you're talking about kidnapping, armed robbery, and other physical crimes. Bitcoin in itself is a generation of crimes, just that it's only a couple of people that are smart enough to discover and use Bitcoin in criminal activities ( that excludes direct buying of illicit materials on the internet). Bitcoin in itself is used for money laundering, to find terrorism and many others. I've seen many people who are ' apparently ' into Bitcoin and are criminals, CYBER criminals. They literally do their stuff and invest the money in Bitcoin. So, I think the thing about Bitcoin reducing the crime rate in this country is not totally true. It's probably even making them smarter and shifting the youths to cyber crimes.

But the thing is anything that has its disadvantages also has its advantages. Blockchain technology. If Bitcoin has contributed something good to crime rates, then it's through this. Of course, if utilized. Blockchain technology can tackle crimes, especially cyber crimes, effectively, through its transparency, decentralized verification of identity, and transaction traceability with timestamps. If the Nigerian law enforcement agencies tackle this technology then it'll really help reduce crime rates in the country.
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Topic
Board Bitcoin Discussion
Re: Altcoins are sucidal!!!
by
Bitco55
on 23/08/2024, 04:26:53 UTC
>> so many people prefer investing in shitcoins just because it offers higher growth potential than Bitcoin.
What they fail to understand is that , investing in altcoins carries a lot of risk and you need thorough research before making investments decisions, if you've taken the decision to invest in Altcoins then get ready for potential looses.   I'll also advice you never use your all to invest!

Bitcoins advantages makes it a reliable store of value and medium of exchange.
The price of Bitcoin has really swept people off their feet, I mean imagine if maybe ten years ago you had a good amount of Bitcoin and you decide to hodl .
Imagine how you'd be now!
So the best thing is to use the DCA investment strategy in Bitcoin rather than investing in all these shitcoins.



Investing in altcoins is just like gambling, very risky and quick, but I won't totally advise against it and say Bitcoin should be the only cryptocurrency you should invest in. You see, as an investor, keeping your funds in one place is also not a wise decision. Learning and researching about altcoins also increases your intelligence levels and makes you smart in making decisions. You become careful, and you are not just doing it for fun, you'll earn from it too. There are a lot of really good altcoins out there. They're not all shit coins. But my only advice is when you play these games, you play them with little funds. Especially at the start where you have little knowledge about what you're doing.
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Topic
Board Nigeria (Naija)
Re: Bitcoin fixes this
by
Bitco55
on 22/08/2024, 12:09:57 UTC
I think Bitcoin can, whether directly or indirectly help solve, if not all, then most of these problems.

Bitcoin, is an alternative money and serves as an asset for investments.

Inflation: this might as well be the number 1 problem Bitcoin can actually solve. Savings and investments even in the bank would reduce the amount of money in circulation, which causes inflation. Investing in Bitcoin would also do the same.

Currency devaluation: this is an effect of inflation, so if there's no inflation, the currency's value would not decrease.

Unemployment: this is very literal, as many of our youth sef don't have jobs but still survive on crypto trading, investments and forex too.

Dependence on oil: be it by the government or by the private individuals, money invested over time can be liquidated in order to start businesses. The fact that our country only depends on oil means that were not just far behind in agriculture but in manufacturing too. We import and import to the extent that we can't produce any thing. If we don't want to depend on oil, we should be ready to place our dependence on something else, and that something else isn't just Agriculture, but production and manufacturing too.

Poor infrastructure: Bitcoin doesn't directly solve this problem, but when there are more companies, there would be need for development. This development happens through infrastructure.

Bitcoin doesn't directly solve most of this problems, but money gotten from it can.
Post
Topic
Board Economics
Re: It's not smart to borrow funds and Pay back
by
Bitco55
on 21/08/2024, 11:08:18 UTC
Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make at least something out of it.

I want to believe you knew what you were writing and probably didn't know how to express it properly, cause I see you talking about how money makes money, and how one should use the money to start a business, which is actually correct. Or, you intentionally wrote it in a way that could cause more comments. Whichever, I really do want to believe you know exactly what you wrote. Cause if you really believe that money printed is free and must not be paid back, then you should have been identified as a scammer by now.

Whether it's free or not, it's not yours. Sure, it may be a little un-smart to take money and pay it back immediately when you can actually earn from that money still considering the risk, but not paying back at all is another case on its own.
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Topic
Board Nigeria (Naija)
Re: Don't keep your hope in any news of bitcoin
by
Bitco55
on 20/08/2024, 10:51:59 UTC
Sometimes the news of bitcoin maybe contradictory and when hoping on positive news of bitcoin you maybe backslide, because many people have thought that the price of bitcoin is now getting upright but it shock some people who hoped-for speculation of Bitcoin and believe that as people speculate on price of bitcoin that the price will be going up all through this year, whereas the price of bitcoin is depreciating in the market almost every day, so I don't know why bitcoin can not be depending on.

Yes, crypto news is very unstable and contradictory, but crypto itself is. And you don't expect people to predict it like it's some kind of magic trick. Only traders get to worry about the news though, investors don't.

Cryptocurrency news may sometimes be a struggle since one wouldn't even know what to believe anymore. I've faced this countless times and it ends up discouraging people. One thing is sure though, as an investor, a long-term investor, in Bitcoin especially, there's no loss for you or bad news
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Topic
Board Nigeria (Naija)
Re: Invest what you can afford not what you can afford to lose:
by
Bitco55
on 20/08/2024, 10:44:34 UTC
I think what those people generally mean is that they want to give that 50k out of 200k a try at investments, but if it doesn't work out, it's ok. It's like leaving a part of your money to chances and for your learning.

What you can afford is 200k, but what you can afford to invest and what you can afford to lose to investments may not actually be the same thing, not even for the same person. And I also want to believe people don't just throw their money away in gambling sites and altcoins because " they can afford to lose it".
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Topic
Board Nigeria (Naija)
Re: Do Not Pressure Anyone Around You To Invest In Bitcoin.
by
Bitco55
on 19/08/2024, 14:20:11 UTC
I decided to bring this information to our notice here because of a particular event that happened today that I was opportuned to witness. I understand that we all that have been around the forum where discussions and informations about Bitcoin and other cryptocurrency are made have taken the opportunity to invest and some of us if not all have benefited from our investments and it has positively affected our thinking because we now see the investment as something we can not do without. Even as we encourage some of our brethren to invest, we shouldn't made it mandatory as if they will have no other opportunities in life to become rich if they do not invest in cryptocurrency. Back to what I witnessed today which led to this information, a guy was busy blasting his friend in public for not investing in Bitcoin when the price was below 40k on hearing them from afar, I came closer to really understand why he was so angry with his friend I overheard him saying that he can no longer be taking care of him because he refused to invest when he asked him to. There are some people who may never be interested in investing in Bitcoin even when they see the need to invest I think the best thing is to ignore them instead of putting so much pressure on them for them to invest. It is not every one that understands the meaning of investing for the future I think anyone who's interested in Bitcoin investments won't waste time to invest regardless of the current economic situation.

True, forcing people into investment decisions gives them the opportunity of blaming you for their downturns and losses. A lot of people may never believe in Bitcoin and will never want to invest in it. One of the best ways of letting someone know how good something is, is your results most times, not your talk. That way, you're not at any risk in the end.