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Access and liberty: money saved in exchange is very accessible provided you have your internet connection and you can transact anytime, any day, any hour if you wish to unlike Bank that sometimes will deprive customer from making use of their own money because of maintenance and some careless network issues, yes nothing is wrong with maintenance but it should be done in a way it won't affect customers and to be honest I feel relaxed and free whenever my money is in exchange because it very hard to get my seed phrase, pass key and the rest of them unlike Bank that someone can just penetrate without Bank sending you an OTP.
E be lyk say u exaggerate am but I get u broda. Bank fit frustrate person life, but we no get choice. If u comot d moni for exchange, where u go still put am spend? No be bank? That na why bank good well well, u no fit dey pay 4 wetin u dey buy all 4 crypto, na bank go still keep am. If na maintenance, go get 3 banks minimum, no be all of dem fit dey maintain 4 d same time. If na charges, go look for bank wey no dey do hidden and extra charges. Dem exist.My advice be say make u no too trust exchange. If u go use dem too, make u use DEX.
Re: Youtuber said best time to sell bitcoin is when altcoins rally? Is this true?
Different people with different theories, just be careful. If you want to mislead yourself, follow those YouTubers, they will easily mislead you.
Giovanni Santostasi's power law is a near-perfect view, for me. This power law predicted what we see in Bitcoin today, where it will get to a stage that the returns start diminishing, that is the true reflection of it if we look towards that angle as it matures. Bitcoin tendency to give return at $100k, is not the Bitcoin tendency to give return $30K. The return will greatly decrease as prices increases. For example, at $500k, it will take Bitcoin at $1m to deliver the double of the investment. But at lower price, multiples of that can be made easily. This is a true reflection of the future reality and this formula speaks best of the future obvious.
Price=A×TimeB
A and B are constants. A= Scaling factor and B= Exponent (growth).
Thank you fillippone for sharing this rarely looked into but useful article.
Of course, if we don't see animals that are 10x bigger than the blue whale, probably other factors impact the growth of such an animal. Of cours,e the model is not complete.
The animals, cities and other living creature's growth suggested are not to compare but to acknowledge the developmental stages. In babies, the growth is rapid, which continues through to some adult stages where the growth start slowing down until full maturity. Cities too, the infrastructural development and new building are rapid at a point, but it gets to a point where they start diminishing for most places have been developed and procurement of land and properties will be expensive by then.
Price=A×TimeB
A and B are constants. A= Scaling factor and B= Exponent (growth).
Thank you fillippone for sharing this rarely looked into but useful article.
Take the case of the power law applied to the city.
According to a power law, Can a city infinitely grow?
I don't think so.
The model says that the growth of animals, cities, and other living creatures observed so far, follows such a scheme. According to a power law, Can a city infinitely grow?
I don't think so.
Of course, if we don't see animals that are 10x bigger than the blue whale, probably other factors impact the growth of such an animal. Of cours,e the model is not complete.
Re: [Merit] Share your best posts/threads with Fillippone to be merit assessed
Round 4
Now we know the Boss [Bitcoin vs Ethereum]
Category : Reality check
Section : Bitcoin Discussion
The rule of 90." Have you heard of it in trading?
Category : Education
Section : Trading Discussion
Re: Buy the DIP, and HODL!
Category : Opinion
Section : Speculation
Re: Diversify your assets.
Category : Education
Section : Economics
Re: TRADING IS NOT GAMBLING
Category : Opinion
Section : Naija Board
Now we know the Boss [Bitcoin vs Ethereum]
Category : Reality check
Section : Bitcoin Discussion
The rule of 90." Have you heard of it in trading?
Category : Education
Section : Trading Discussion
Re: Buy the DIP, and HODL!
Category : Opinion
Section : Speculation
Re: Diversify your assets.
Category : Education
Section : Economics
Re: TRADING IS NOT GAMBLING
Category : Opinion
Section : Naija Board
Greetings my fellow Naija pipu, how nna dey? Hope say I meet nna well?
I dey happy say I discover dis section today. I bim dey go off and on 4 Bitcointalk te, I no too dey read everywhere say section lyk dis dey. Dis go ginger me more.
God bless you all. God bless Naija.
I dey happy say I discover dis section today. I bim dey go off and on 4 Bitcointalk te, I no too dey read everywhere say section lyk dis dey. Dis go ginger me more.
God bless you all. God bless Naija.
I no fit talk all the differences here but these ones na the key ones I know say others get too to add, but las las abeg trading and gambling no be the same thing,
Trading and Gambling have been pitched side by side by many people for many years, people have their opinion, but those who can back up their claims with constructive facts that trading is gambling doesn't exist because trading and gambling are not the same. Trading has its terms, and so is gambling. The two have their different practices and structure of operation that differentiate them.You try to do business in trading, a risky type of business, which makes it look like gambling. As risky as it is, there are set out plans like having good strategies, manage your risks correctly and have a good plan to ensure what you know are done right to make profit. But gambling is like that, it is tougher, you must do blind betting based much on guesswork, instinct at play, and senseless risking sometimes to get it done. It is highly luck-based, but trading is not like that. Your efforts and worth in trading will surely be repaid in profits if you know what you are doing, particularly with the security of your account.
☞If Bitcoin was the currency of a country then what will happen?☜
It will not rise to a prominence like this. The limitation will be local, except it is the currency of US or EU.Cryptocurrency is known as the fastest transaction medium for people around the world.
Where did you read that, what could be faster than just bringing out fiat from your pocket and paying for what you have just bought.It is still possible to invest in bitcoin without have a good cash flow as you mentioned, it's mandatory you should have good cash flow before making purchase this question is did you have discretionary income?
You don't need to be Bill Gates before investing in Bitcoin, that is the mistake the majority make and it pains them with how Bitcoin has performed. Bitcoin doesn't need you to fully adhere to your question of the discretionary income, many would use this as an excuse to dissuade themselves from investing if that is the case. Bitcoin investment mustn't always be on the platter of full comfort, investors must deny themselves some things too.Whether you have that huge income or you scarcely have the excess, it is the decision you have to make. Are you wasting excess money on frivolities, or the wants take more than necessary from you than the necessities? That money is what you need to channel into your Bitcoin investment. If we always talk about the discretionary income as an excuse, most people will not own a single Bitcoin.
The day you know there is no certainty anywhere, is the day you start planning with good factor of safety, diversification of investment is one of them. The world will guaranteed nothing no matter how perfect it looks from the outside, many would tell their stories of good, bad and ugly, it has always been like that.
Real Estate investment is good, to the extent that people had started with $100 or lower and has built million dollars empire with it. But this is not immune from failure because bad luck and wrong choice can plague people more than they bargained for. The story you narrated is one of the bad luck and wrong choice examples, inexperience also adds to it, we should learn the investment before doing it.
The environment, what the location is earmarked for, its topography, government's future plan are few out of the factors to consider before investing in real estate.
Real Estate investment is good, to the extent that people had started with $100 or lower and has built million dollars empire with it. But this is not immune from failure because bad luck and wrong choice can plague people more than they bargained for. The story you narrated is one of the bad luck and wrong choice examples, inexperience also adds to it, we should learn the investment before doing it.
The environment, what the location is earmarked for, its topography, government's future plan are few out of the factors to consider before investing in real estate.
~Snip
For me it is not too ethical if we sell something that we already have as our long-term assets such as land or other things to be forced to be in bitcoin.[edited out]
During 2019, I purchased Bitcoin with most of my savings and I thought I already had enough. But when you log in to a forum everyday that only talks about Bitcoin, you are sort of making yourself accumulate MORE. 
That's what I did during 2022 and 2023.
Next accumulation, perhaps 2026?
...........................It's a matter for personal preference. I like to buy DIPs during a bear market when the price is near, is touching, or under the 200 Simple Moving Average of the weekly chart. But newbies can DCA if they personally believe it's right for them.
But for the sake of helping me answer that question, let's pretend my life savings during 2019 was $22,500 and I used $20,000 to purchase Bitcoin, obtaining them with an average price of about $5000.
What would be my average purchasing price if I started a weekly DCA from April to December of that year?
🤔
You should be able to make fair calculations. Since your savings in 2019 was likely different from your savings in 2016, and you also had cashflow too.
So any potentially aggressive DCA strategy woudl have had taken those matters into account.
It seems that you are saying that you purposefully hesitated to buy bitcoin between mid-2016 and 2019, so accordingly you were saving in cash during that time in order to wait for a better opportunity to get into bitcoin, and surely the opportunity to get into bitcoin was better in mid-2016 than it was in 2019 - even though there was a dip in BTC prices in 2018.
You can look at your own cashflow situation between 2016 and 2019 and figure out what you might have had been able to do if you had gotten started earlier and been more aggressive during those times rather than deploying a waiting strategy.
Sure, we can never know for sure, even though many of us ongoingly suggest that it is better to get started and to figure out how you are going to employ your BTC buying approach, and waiting does not tend to be a good approach, even if you might end up choosing to spread your introduction into bitcoin over time rather than lump sum going into bitcoin with everything that you have in the beginning.
Surely if you had a lump sum of $15k in mid 2016, then you could have bought right around 25 BTC at that time (averaging around $600 per BTC)
If you had $25k in mid-2019, you could have bought around 5 BTC at that time (averaging around $5k per BTC, as you mentioned).
Now we don't have to have all or nothing answers in order to still be able to appreciate the value of getting started early, even if you might have some combination of DCA, lump sum and buying on dips with your savings and also with any additional cashflow that you would have had been getting.
We also cannot turn back the clock, even though we can measure and compare different approaches and attempt to be honest with ourselves about the approaches and the unknown nature of being in any particular position at any particular time. We don't have the advantages of hindsight until after the time had already passed.
If I started during 2016, you're right. But I was a "trader" losing some money during that time before I decided to invest only in Bitcoin. If I started to Dollar Cost Average during 2019, it's obvious that I would have less units in Bitcoin.
Quote
I was merely lucky to have decided during the right time if we consider my situation. I lost some of my savings during my days of "trading" shitcoins before 2019.
Call it again, shit-coin, hahaha. I don't know how people cope with it. Like you, I learnt my lesson, they can give such a good profit but will collect it back very fast and make your life miserable. Some will start making the life miserable from the very minute, nothing like Bitcoin, not even the disappointing Ethereum. It is Bitcoin or nothing.This is where Bitcoin will come in and dominate all currencies and the government will have no choice but accept Bitcoin because Bitcoin will be their only saviour to their economy l, it is better the politicians realize the importance of Bitcoin before they will have no choice than to be forced by nature to accept Bitcoin .
More precisely, not forced by nature, but forced to admit Bitcoin as the best by the influence of current conditions and must accept it as the best asset in the world. Those who are still skeptical and do not want to see Bitcoin as the best will face a level of difficulty in the economic sector because currently the world economy is not going well, especially with the new tariffs that have been issued by Trump for several countries that like to import goods. So no matter how the government moves in the economic sector, what is called Bitcoin must still be seen as a good investment opportunity and also as an opportunity to save their economy in the future because Bitcoin is an ark that can be used by everyone to save themselves from the economic crisis that might come again in the future.
Haters will cry because bitcoin is the future, it is the way to go by many generations to come, our generation is just the foundational opener, by the next decades, people will be begging others if they have bitcoin to sell, it will be very important and scarce by then. Those who can see the future should start buying and keeping their bitcoin, even the government that didn't buy will regret it.
Our big mistake is that we believe that Trump will promote bitcoin that may lead to global adoption. That’s why we become excited when he won the election. But what we didn’t know is that he will only use bitcoin or cryptocurrency in general to launch their own meme coins.
It’s a clear proof that Trump has deceived us, when we think that bitcoin is his focus and main goal, but end up promoting his own cryptos for their personal gains and interest.
It’s a clear proof that Trump has deceived us, when we think that bitcoin is his focus and main goal, but end up promoting his own cryptos for their personal gains and interest.
Trump is a businessman, not an enthusiast of crypto.
That would explain everything and leave no questions to it.
If Trump is not a crypto enthusiasts, why identifying himself with cryptocurrency, created his own crypto and adding Bitcoin and altcoins in his crypto portfolio?
To me I see trading and at thesame time investment in bitcoin as a total distraction, one should just centralize his or her focus on one, either you are trading or you are investing, know what you are doing choose one and focus, there is nothing like one should be investing and be trading for fun what fun
Why do you even think involving yourself in both trading, and investment is total waste of time? I don’t really see anything bad in doing the two, as long as you know you can manage the two. Mostly investment should be for a long period of time if you are expecting a maximum profit. And if you are trading, you can be earning on a daily basis, and you will be using the money to take care of yourself, so involving yourself in the two is not really a bad idea, as long as you can do it. I know some people that involve themselves inproperng for survival, and they are still holding some bitcoin, and they are really fine, so I don’t know why you think involving yourself in the two is distraction.
Most people trading are not doing it for fun, they are doing it just because they want to make money from it, and I don’t think there is anything bad in it.
as we all know trading is also part of bitcoin investment not only by accumulating and holding for long period of time,
It is a very big error to say that trading is part of investing in bitcoin, how does it even sound? Bitcoin investment and trading are far two different things because trading talks more about buying when the price is low and selling when the price is high while bitcoin investment has to do with buying at any price point and hodl for long term increment which will also attract profits along so you can see clearly that trading and investing in bitcoin are not talking about same thing. I think the point your pointing out is crucial because many has the conception of comparing trading and Bitcoin investment not minding that if a woman and man is found in the same room doesn't mean they are same gender, trading and investment just as you have clarified are not the same the only relationship between their two is the profit which also differs in time because investor has to Wait and keeps buying till he meet or hit the expected rise while trader cut off with short time and always take little profit .
Re: As of now Joe Biden has btc ath under his belt when will trump take it from him?
@EFS. We can be very much certain that bitcoin and much of the cryptocoins and tokens in the cryptospace will very much pump to all time high. The Trump pump began when the Donald promised to have a procrypto administration and we witnessed that he is keeping his promise. The Trump pump has occurred again after he was declared victorious on the election on November. There will certainly be more Trump pumps.
Also, it would be very headshaking to compare bitcoin's performance under the Biden administration and imply Biden was a better president for bitcoin. I reckon we should move on from this because if we cannot, a better comparison between Biden and Trump on bitcoin's performance would be Trump's first term and Biden's term.
Also, it would be very headshaking to compare bitcoin's performance under the Biden administration and imply Biden was a better president for bitcoin. I reckon we should move on from this because if we cannot, a better comparison between Biden and Trump on bitcoin's performance would be Trump's first term and Biden's term.
well so far trump and Biden both killed off bull runs.
2018 laws passed by trump ended all like kind tax free trades for crypto and stocks. dealing a crushing blow to crypto in 2018 Jan.
My tax returns are over 200 to 300 pages long in year where I make under 20k profit and 300 to 400 pages long when I make over 40k profit. all on trump in 2018
and yes Biden did a pump and dump in 2021 and then 2022
they both seem like more of the same.
He is one man, bitcoin community is bigger than one man, don't let us rely on him. The bitcoin community should focus on sustaining itself, we have overcome many, here we are still close close to $100k, so applaudable.
⭐ Merited by JayJuanGee (1)
there are only two viable strategies for those accumulating bitcoin in my opinion.
- you either consider yourself a trader which means you have to be buying the dips and each time you see a good opportunity like the correction after we hit $5500.
- or you are just dumping your fiat every time you have some extra laying around and turning it into valuable bitcoin. in which case it really doesn't matter when you buy specially since that strategy is a long term one and whether you buy at $5000 or $5500 doesn't make much difference when price goes up in long run as it doesn't matter if you bought at $220 or $240 back in 2015 now that price is 25 times more!!!
- you either consider yourself a trader which means you have to be buying the dips and each time you see a good opportunity like the correction after we hit $5500.
- or you are just dumping your fiat every time you have some extra laying around and turning it into valuable bitcoin. in which case it really doesn't matter when you buy specially since that strategy is a long term one and whether you buy at $5000 or $5500 doesn't make much difference when price goes up in long run as it doesn't matter if you bought at $220 or $240 back in 2015 now that price is 25 times more!!!
Some of you ideas are good but DCA is smart plan. I think It's hard to time the market. It's more complex.
My personal opinion is learn first. Without learning, anyone may lose money so learn first then think about trade.
And If you want to hold bitcoin, I believe use DCA is a smart choice but spend all the money at once is risky.
Market don't move in the straight line so Watch the market will be wise. No one can't guess future prices by looking at past ones.
I would suggest you don't distract yourself with trading, but focus more on investing using DCA as you suggested, with your available discretionary income and having an accumulation target in mind. It is also important you plan a long-term holding period of 4 - 10 years or more so you would've accumulated across a cycle or more and have significant stashes of bitcoin to your profile.
When you would loose all your money is if you venture into trade mindlessly as an inexperienced newbie at your level when you should be investing into bitcoin to secure your future financially.
Yeah you are right as a newbie into Bitcoin thinking about trading or going into it may cause you a lot such as,
Restlessness: because of the high risk in trading your mind won't be at rest and such a thing may cause you restlessnes which may lead to other health issues.
Lost of interest in Bitcoin: a lot of people who would have made it big in Bitcoin investment by now choose to go into trading and because of the lost they had they lost interest in Bitcoin.
As a newbie what you need is accumulating and holding for long term because is more safe and reliable, if as a newbie you decide to go into trading bear in mind you will lose money and all this money you will lose when put together will help you go a long way in your accumulation journey.
The rule of 90 or 90% rule is a gloomy statistics that was suppose to serve as a reminder or caution newbies traders. The rule states that "90% of traders lose 90% of their funds in their first 90 days of trading."
Do you believe that? I hope this caution new traders that are opportune to read it.
Do you believe that? I hope this caution new traders that are opportune to read it.