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Showing 20 of 99 results by Jon pyagbara
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Board Nigeria (Naija)
Re: Hedging vs stop loss order (A more risk management strategy)
by
Jon pyagbara
on 28/08/2024, 03:40:55 UTC
Hedging can be more effective in highly volatile markets, while stop loss orders can be impacted by temporary price fluctuations,

Stop loss can also make a trade miss opportunities, you may miss out on potential gains you know.

Hedging provides more flexibility than stop loss as it can be adjusted or closed due to changed market conditions.

But the two can actually work together, and combining both strategies will provide a more efficient risk management strategy as long as it aligns with your trading goals and risk tolerance.
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Topic
Board Nigeria (Naija)
Topic OP
Hedging vs stop loss order (A more risk management strategy)
by
Jon pyagbara
on 27/08/2024, 17:16:49 UTC
We all know Hedging and stop loss order are two risk management strategies, Hedging reduces potential losses or gains by creating a counterbalance investment, while Stop loss order automatically sells a specified of Bitcoin when the value or price falls to a certain level set by the trader, which is designed to limit potential loss just incase the market goes against the trader.

But even when both of them are risk management strategies there is also a time to use them respectively,

For Hedging: hedging can be used when a particular position needs to be maintained with a reduced level of risk incase of a predicted market fluctuation. while stop loss can be used just incase the market  moves against your current position or your inability to monitor a trade,
The only key difference between them is that Hedging requires creating new position to counter risk, Hedging also aims at reducing risk associated with that trade, while stop loss closes an existing trade and in that process limiting losses.

Hedging is a better risk management strategy when it comes to managing long term risk,  and also reducing overall portfolio risks,
Stop loss order is also idea for limiting short term losses,  and automation of trades.

So both are effective and the choice of any of them depends on your investment goals, market conditions and risk tolerance.
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Topic
Board Nigeria (Naija)
Merits 1 from 1 user
Topic OP
Shrimp, Fish, Dolphin and whale. ... Na just time.
by
Jon pyagbara
on 25/08/2024, 10:52:39 UTC
⭐ Merited by CryptopreneurBrainboss (1)
Bitcoin is a digital asset that requires patience and understanding if you want to be successful in it, 
let's talk about Shrimps, fishes, Dolphins and whales when it comes to Bitcoin, and how a player can navigate the following levels,
As we all know shrimp is an individual that holds a small amount of Bitcoin mostly between (0.01- 0.1 BTC).

Then a fish is an individual that holds also a small amount of Bitcoin mostly from (0.1-1 BTC)

We also know a dolphin to be a player with (1-10 BTC)

And then a whale with over 1000btc.

To navigate these different levels from shrimp to whale there are different habits and actions an individual needs to put into practice which includes.

1. Shrimp

This is actually the starting stage of it, where the individual starts small with tiny Amount,  this stage also requires the player to learn and educate himself and then set goals he wants to achieve.

2.  Fish
This stage requires increasing your investment in Bitcoin and even other coins so as to gather profits and invest it back in Bitcoin,  also educating oneself About market trends and developments.

3. Dolphin
With all the knowledge and coins you have gathered from previous stage , you just need consistency in this stage, regularly investing and holding unto your Bitcoin, it also requires patience and you don't rush into selling your coin because of market fluctuations, and also engaging in Bitcoin communities where you communicate and learn from others.

4. Whale:
This level requires long term investment and commitment, holding onto your Bitcoin for years, and also making investments based on market analysis, without greed.

Becoming a whale you will need , Time, patience, discipline, continuous learning and strategic investments.

So my people how una see am.
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Topic
Board Nigeria (Naija)
Merits 1 from 1 user
Topic OP
The FUD of Bitcoin.
by
Jon pyagbara
on 23/08/2024, 14:33:21 UTC
⭐ Merited by CryptopreneurBrainboss (1)
When it comes to investing in Bitcoin there is always a FUD ( Fear, uncertainty and doubt),

Bitcoin has proven to us over the years that it is a coin worth investing in, Most persons still doubt the capability and authentication of it, most persons thinks it is a Ponzi scheme or bubble,  according to my research I found some reasons people still doubt Bitcoin which includes

1. Competition in the crypto space can increase FUD among investors
2. Bitcoin's decentralised nature, because I once talked to a friend of mine about a possible investment into Bitcoin but he was like if them run with my money who I go hold?. So stuffs like that can cause FUD in Bitcoin.
3. The government of the country can also make people doubt the potential of Bitcoin, with the implementation of anti-bitcoin policies and regulations.
4. Traditional banks may spread FUD out of fear of loosing out of the market to crypto Bitcoin due to people's continual interest in Bitcoin or other crypto currencies.

Some solutions to FUD in Bitcoin includes.

1. Clear and supportive regulations by the government
2. Rising adoption of Bitcoin can help eradicate FUD in Bitcoin
3. Educating ourselves with the accurate information will give no room for false information and misconceptions.


So putting all this in mind FUD can be caused by all this, and it's very important to keep ourselves updated through researches to avoid any form on FUD when it comes to investing and staking coins.
Post
Topic
Board Nigeria (Naija)
Topic OP
Tips on Bitcoin acquisition as a newbie
by
Jon pyagbara
on 21/08/2024, 10:19:04 UTC
I had a problem months ago when I first joined this forum, everyone was talking about Bitcoin, and with the price of Bitcoin I had in my head, I had a problem of how will I acquire Bitcoin, how will I raise money to buy and stake coins,

This went through my head severally until I came across a video where I had the solutions to my questions, I was made to understand that starting Bitcoin from scratch with no capital for  acquisition of bitcoins needs dedication and creativity, building knowledge and network skills to succeed on the crypto space, it requires patience and also been consistent,

I was also meant to understand that content creation can also help in the acquisition of Bitcoin through monetisation using Bitcoin, and also joining crypto Twitter and Bitcoin talk forum,  so I will advise every newbie to look into this critically and focus on the journey to financial freedom through Bitcoin.

I stand to be corrected.
Post
Topic
Board Nigeria (Naija)
Re: Nigerian activist receives local support in legal fight to use crypto
by
Jon pyagbara
on 21/08/2024, 09:08:22 UTC
He also addressed the misconception about how cryptocurrencies are mostly used for fraud. I think we should leave this because we all know already how naira and other fiat are used by terrorists, bandits, and by those that wants to collect ransom after they abducted someone. We also know already that even if the fiat is bad in the society, the government will still continue to make it a legal tender because they only see the usefulness.

The excuse say crypto is used for fraud or anybody doing cryptocurrency is just disguising as they're fraudsters, na wetin go make us remain backwards for the world and Africa self because some other African countries dun dey advance pass us for crypto matters. The government no know wetin dem dey  miss by attacking crypto for the country wey be say dem supposed dey see how dem go welcome am so dem fit get inflow of businesses and companies dem wey dey associated with the industry so dem fit dey help strengthen the economy in various ways.

First e go bring about job creation, foreign investors and then revenue for the government. As for the activist, he's fighting a good battle and we can only hope he wins because we know as things dey be for this country. Las last the government get the final say because na dem get the government and they make the policy we dey guide the country so if dem say crypto bad for the economy, we can only hope they come to their senses to see that they're making a mistake.
This is just the truth, Many African countries are now beginning to overtake Nigeria when it comes to crypto, the attack on crypto by the government can also be seeing as a direct attack on the economy of the country, because any action taken by any individual or the government that hinders the financial and digital growth of its citizens can also be seeing as an attack on the economy of that country, already we are experiencing the following in crypto space because of the continuous attack by the government

1. Reduced investment as many investors especially of Nigerian origin living in Nigeria have reduced the way they Invest in crypto because of lack of government support.

2. And like you mentioned, Other that other African countries are now way above Nigeria when it comes to crypto, lack of government support to crypto have reduced the competitiveness Nigeria had in the crypto market with other countries especially African countries,

So I will throw my support behind James Otudor anyday and anytime and I know Nigerians that mean well for the country will do same.
Post
Topic
Board Nigeria (Naija)
Re: crypto vs content creation, which is more profitable?
by
Jon pyagbara
on 20/08/2024, 09:40:28 UTC
Since most youths have seen that social media skit makers are cashing out big and living expensive lifestyles, we've noticed a majority of youths creating content up and down some of which are too irrelevant and contribute nothing to the viewers. They just want to get paid and since they want to get the required views and followers before their account is monetized, they are willing to go to any extent just to look for views including showing nudity and spreading false and unverified news just to attract their audience. In the end, some of them luckily get their accounts monetized and earn from it pulling up more crowds into the sector as though it's the only source of wealth in the digital space.

For us at this end, we know that ours isn't as loud as that of content creators and most of us normally enjoy doing things on the low key to avoid too much attention from our financial agencies since it appears as though they have a thing against us. For the traders, we know the risk involved and that it could get too good at some point or get bad at some other time, and then for the long-term investor, we know that our return doesn't come within a short space of time compared to most verified content creators that are currently earning from their page.

Which is more profitable? Content creators or crypto traders/investors.

These are two different aspects of making legit Money, For me I will stay with Bitcoin because of the following reasons.

Bitcoin when investing in long term has the potential for high returns, and investing in Bitcoin is not time consuming, unlike content creation which is time consuming and labour intensive, you are to be constantly dropping new content to keep your incoming flowing, and most times monetisation strategies may change, Bitcoin just invest and keep up with the latest updates and get your profits,

As Nigerians we all know Blord as an investor in Bitcoin, he is not the most successful Bitcoin investor in Nigeria but he is worth over $5m, which content creator stands close to him when it comes to wealth, Mark angel is the most successful content creator in Nigeria with the networth of about $3m, so you see Bitcoin is way above content creation when it comes to maximising profit.

I stand to be corrected.
Post
Topic
Board Nigeria (Naija)
Re: Why you should choose digital assets over physical assets.
by
Jon pyagbara
on 20/08/2024, 09:12:26 UTC
One sign that tells you that someone is still some centuries behind is when you talk about an investment option with them and all they talk about is physical assets. Some don't even see buying a digital asset as a good investment option probably because they've been used to buying properties or assets they can easily see and show people that they own it or one that's popular like land, gold, houses, machinery, etc. But when it comes to choosing either physical or digital assets to invest in, the advantages of owning digital assets are far more than that of owning physical assets.

Advantages of digital assets.
1. You can be filthy rich with a Bitcoin holding that's worth $billions and still live a low-profile life unlike owning physical assets like acres of land or properties that are tied to your name and will bring unnecessary attention.

2. Digital assets are mobile which means that at any time you choose to relocate to a desired destination, you don't need to worry about selling all your assets before doing so, you can just sell a small fraction that's enough to sort out your traveling fair and keep holding to your digital asset. That's not possible for physical assets as it will require that you sell them under pressure and you might be forced to sell them at a very low price.

3. It's not subject to government regulations or environmental issues: digital assets are not subject to regulation of the government or environmental changes that will affect assets like lands, gold, houses, and properties. As long as you're with your keys and you're alive, regardless of the environmental hazard or bad government policy that's not favorable in your location, you can easily change location while holding your digital assets.

Physical assets are good from the standpoint of diversification of investment and maybe for showing off that you have wealth, but in comparison to digital assets like Bitcoin, it's better to invest in digital assets over most physical assets.

Digital assets just like physical assets too has it own weakness and strength, To me one of the weaknesses of digital assets especially Bitcoin which can also be seeing as the strength is decentralisation, 

Decentralisation as a weakness to me is in the aspect of security risk because if a transaction is mistakenly transferred to the wrong recipient then it is a loss on the sender's end, without any authority being able to reverse or retrieve that transactions, no regulatory body,

 But I also see decentralisation as a strength of Bitcoin due to the fact that it doesn't have a central control, as no one can stay at the admin end and manipulate anything like we see most times in our traditional banks,
Here in this part of the world Both physical and digital assets needs each other, they work hand in hand, same way we invest in digital assets should be the same way we invest in physical assets,

In the event of death, your digital  assets is gone forever with you, but investing in physical assets your family members like wife and kids will have something to hold in to even when you are gone,

I stand to be corrected.
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Topic
Board Nigeria (Naija)
Re: Bitcoin changing the crypto space and also changing lives.
by
Jon pyagbara
on 20/08/2024, 08:40:26 UTC
The invention of Bitcoin change our financial narrative, by giving us control over our finances, enhancing fast, global and unrestricted transactions, and also  as a decentralised digital currency helping us store transfer our values with ease.

And it has also changed our mindset on how we manage our finances, instead of saving money in traditional banks that will yield little or no profit, investing in Bitcoin will always give long term profits with the right information
Post
Topic
Board Altcoin Discussion
Re: Phoenix De-Fi on Stellar (XLM)
by
Jon pyagbara
on 19/08/2024, 20:50:58 UTC
De-fi on Steller can positively affect XLM's market price but driving it to the moon remains uncertain,
Regarding XLM's valuation, it is difficult if it is not valued without putting market trends, lately it has been relatively stable with a lower market capitalisation compared to other too crypto currencies.

And also it will find it difficult in competing with Ethereum, Solana, and BSC due to the fact that the have more users that have more trusted users, and more market  capitalizations, XLM's valuation not certain and requires effective market analysis.
On the other hand Steller's de-fi ecosystem has to experience massive growth in terms of adoption with significant users investing in it in order for XLM to surge,
Post
Topic
Board Nigeria (Naija)
Re: Nigerian activist receives local support in legal fight to use crypto
by
Jon pyagbara
on 19/08/2024, 16:34:47 UTC
This is a good one, for me there are some positive points here if this lawsuit should go against the government then it's a win for Nigerian youths especially percentage involved in crypto activities.
if the government should act like other advance countries and give crypto currencies a full backing youths Will no longer depend on them for jobs and employment,  well there are key facts to note here,

1. Restrictions on Bitcoin transactions is a direct attack on the fundamental rights of those involved, and Nigerians in general.
2. This also shows that the government of the day are not on the same with the recent digital technologies and assets, which is a major tool for the growth and advancement of a country's economy, gone are the days natural resources had the capacity to sustain the economy, we are in the new reality and crypto currencies is the new reality.
Post
Topic
Board Nigeria (Naija)
Topic OP
Bitcoin changing the crypto space and also changing lives.
by
Jon pyagbara
on 19/08/2024, 03:37:31 UTC
Bitcoin have effectively change and set the standard in the crypto space and has also have a significant impact on people's lives too, Bitcoin is a game changer, it has been a transformative,

Looking at the crypto space Bitcoin has been able to

1. Pioneer decentralised currency, paving the way for other crypto currencies.
2. Bitcoin success on the crypto space have inspired other digital currencies as they now benefiting from the legacy of Bitcoin.
3. Most investors are now attracted to crypto currencies in general because of the success of Bitcoin, Truth be told if Bitcoin was a failure we won't have have move investors on the crypto space like we do now.

Bitcoin has also transformed and changed people's lives.

1. Bitcoin has help many people in restricted economies have a sense of financial inclusion.
2. Bitcoin have made many millionaires and billionaires
3. Bitcoin has also been used in providing humanitarian aids
4. It has given some people economic freedom since they can now store values and make transactions without relying on traditional banks.

Bitcoin have really done a good job and I must say we are all lucky to be in an era where Bitcoin is setting the space for even fiat currencies.
Post
Topic
Board Nigeria (Naija)
Re: Must love the DIP in other to maximize profits
by
Jon pyagbara
on 19/08/2024, 03:09:33 UTC
When it comes to investing in Bitcoin, you will surely love the DIP,   No one makes an investment without expecting profits in return, apart from maximising profit DIP also leads to increased adoption as most persons becomes more interested in buying Bitcoin with the hope of maximising profit, DIP also reduces volatility as the market focuses more on Bitcoin fundamentals,So most time when I see a DIP I put so many things into consideration which will determine me investing at that time or not, but must times I invest and make profits though on a long term basis.
Post
Topic
Board Bitcoin Discussion
Re: Iran Central Bank hacked. Other banks also hacked causing major disruptions.
by
Jon pyagbara
on 19/08/2024, 02:48:36 UTC
Bitcoin has a hedge against potential disruptions in the traditional banking system,
HODLing Bitcoins as a savings account can be a wise strategy, especially in times of uncertainty. Bitcoin's decentralized nature and limited supply make it an attractive option for those seeking a safe-haven asset.
But one also need to know that Bitcoin has its own risk associated with it, so in order to manage this risk, Proper research and and education on Bitcoin needs to be carried out, just so you know how to manage the risks and stay safe.
Post
Topic
Board Nigeria (Naija)
Re: The lack of consumer security in Bitcoin.
by
Jon pyagbara
on 18/08/2024, 11:11:48 UTC
Bitcoin at this point is not fully regulated which means it can lead to legal and Financial risk , it's transactions are irreversible,  and it has no central  authority to monitor fraudulent transactions, making it easier for scammers to operate, exchanges can be hacked, Bitcoin prices can also be manipulated, so to manage all this risk associated with Bitcoin,

 1.we need to educate ourselves on Bitcoin and its risks,

2. We need to use reputable exchange rates,
3. Diversify our investments
4. Stay informed about regulatory developments and also keep our private keys secured.
Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Jon pyagbara
on 18/08/2024, 10:54:49 UTC
This is a very valid point, The focus should be on the general principles and considerations for investing in Bitcoin, regardless of the size of individual capital.

Investors with large capitals have the luxury of many options for investing in Bitcoin, but still need to decide how to allocate his capital,
All investors regardless of the size of their capital needs to manage their cash flow and expenses,

 
Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Jon pyagbara
on 18/08/2024, 10:52:47 UTC
~~The example that I gave might even have some room for the lump sum buyer to include some cushion in his decision to lump sum into bitcoin, and there likely is nothing even wrong with lump summing into bitcoin, but then at some point realizing that the BTC price is moving against him, so when he put in the lump sum, he may well realize that there is a possibility that the BTC price could be at a high point rather than having more immediate upside potential, but he still might know all of that and still decide to get in with the idea that he will just buy more if the BTC price goes down rather than up.. so in that sense, he either should be holding back a little bit of his lump sum amount or he already knows that he has an ability to continue to buy BTC in the future, in case the BTC price goes down instead of up.. so he has already built in a plan that the BTC price might go down rather than going up... but his lump sum prepares him for UP, and his continued ability to DCA and/or to buy on dips prepares him for down.. so he is actually prepared for both directions by lump summing in, even if he could have had gotten his lump sum purchase at a lower price (but no one knows the future BTC price, and that is part of the justification for his lump summing in at whatever price he had chosen to lump sum in... No one lump sums into any investment including BTC with a large expectation that it will be going down, even though they may well already account for that possibility).
Under such circumstances would an investor think that they are in good hands in the decisions they make?
Of course they will be wary of a reversal of direction if they have thought about it beforehand so that the steps they will take will certainly follow up with DCA if that happens.
I often think for those who have large capital, for example $10 million, they will easily implement a purchase plan at a cheap price point like last year when the price of bitcoin was below $30k.

Why do we need to bring up a person with large capital to potentially confuse matters. 

A main difference with a person with large capital, such as the amount that you are suggesting is that he likely has more options because he is starting out with large capital that he might be able to invest in bitcoin, in the event that he has decided to allocate such capital (or part of such capital) to bitcoin.

If the person with large capital has not yet figured out bitcoin, then he is in a similar situation as any no coiner in terms of considering whether and how to invest in bitcoin once he figures out that he wants to buy bitcoin and once he figures out how much he wants to allocate, then he can figure between his various options in regards to how to get in. 

If the guy with $10 million in capital does not want to liquidate or reallocate any of his capital toward bitcoin, then he may well be faced with figuring out how to deal with his cashflow and expenses, which are similar kinds of issues that others have, yet the fact that you ar mentioning his high level of capital causes me to consider that you believe that he has the ability to allocate into bitcoin with some or all of that capital.

But at the same time they didn't and what a mistake, but they executed this year at $60k.

There are folks getting into bitcoin all time, and they are doing it in various kinds of ways, yet at the same time, there are a lot of folks, even folks with a lot of capital and a lot of income who still are either not convinced about bitcoin or they might believe they might believe they are too late.

Sure, more and more rich folks are finding out about bitcoin, and considering it as an investment option, yet we still have a pretty level of adoption, even amongst rich people.

Even though it is their principle to execute now, if they did it last year of course they would get double the ownership compared to today's price.

Sure, you may well be presuming that since they might be able to do a lump sum, that they would do a lump sum investment style to get in, and that is not necessarily going to be the case.  Some rich folks try to be careful about creating taxable events, so if they have to sell another asset in order to get into bitcoin, they might prefer to DCA into whatever they are adding rather than doing lump sum, yet surely they have to figure out their own reallocation and perhaps how much they might have in cash versus in assets that might create taxable events if they sell and reallocate into bitcoin.

However, maybe it was their mistake or at that time they were still not ready to do it.
I also see many big companies continuing to buy bitcoin when the price is rising, is that a good decision if they can wait for the low price to get more btc. In principle, sometimes investors don't dare to do it when they have the opportunity to execute at a cheap price. But they wait more and the days pass quickly when BTC has managed to turn things around and they regret not having made a purchase when the price fell.

Rich people are faced with the same dilemma as everyone else when they are new to an investment like bitcoin, and even if they have an opportutnity to completely invest right away with lump summing, they might choose to allocate some of that for buying on dips and/or DCAing, even if they might be DCAing with thousands or tens of thousands per week rather than lower amounts.

They also be a bit less price sensitive, and they might spread their DCAs out to be monthly or quarterly, yet they could potentially front load with a buy like buying $1million within a week or two...and then considering their DCA'ing and/or buying on dips from there.  They might execute their own trades or they might give instructions regarding how to get their price exposure, maybe even ONLY recently learning about bitcoin from a Registered Investment Advisor (RIA) in terms of bitcoin coming available within their investment accounts (presumptively through some of the spot ETFs that are only recently getting added into some of the accounts that some rich folks might have.

[edited out
st refer to Bitcoin historical price chart. 
There is one thing that I want you to understand in bitcoin: no matter what when you are investing, that doesn’t mean that you will have nothing to you for your personal self, or that means you should not enjoy yourself. No, even though we all know that we need profit in bitcoin and we want the investment, we still have to invest the money that we can afford losing. That is the point, and if you restrict yourself from having all that you are already using just for the sake of investment, then what do you think will happen if someone happens to your investment? Even though we know that bitcoin is the number one trusted and reliable cryptocurrency to invest in without panicking about anything, that doesn’t mean you will always have a profit. Time will come that you will also lose, even though it is not much, but sometimes it tends to be much. 
 
All I want you to understand is that when I invest in bitcoin, you should always know that you don’t have to break yourself or your bank to achieve that because you will end up selling to fix other problems, and from there, that has affected your investment for a long time, so let us know what we are doing in the crypto space

First we are not talking about crypto and shitcoins in this thread, so if you were talking about investing into bitcoin, then it probably would be better for you to use the word bitcoin so we know what you are referring to.

Second, your points are fair in regards to guys making sure that they pace themselves in their investment into bitcoin, and anticipate ups and downs in the BTC price and the potential that their holdings might not be in profits in the first 4 years, and perhaps even longer than that or at various points after going through the first whole cycle of accumulating bitcoin.

i think that many guys participating in this thread are already presuming at least a 4 year investment horizon, and many are considering 4-10 years or longer, yet sure, even a long term investment horizon does not guarantee that the BTC holdings will be in profits, so guys have to make sure that they are investing an amount that they can afford to lose in regards to the possibility that the BTC holdings could go to zero, but also .. surely many of us consider bitcoin to be amongst the best if not the best place to be putting value, yet, we still have to invest within our discretionary income and have various back up funds and even attempting to make our cashflow management strong so that we do not have to sell bitcoin at a time that is anything other than our own choosing.

[edited out]
👍
I'm not saying that you're wrong or that one investment strategy is better than the other. I was merely stating a point that if given an opportunity to purchase Bitcoin with a discount, big or small, they should always take it to get more units in Bitcoin than if they have purchased it without the discount. If the main strategy is a scheduled-DCA, sometimes it might be better to break the schedule to take advantage of the discount.

I had not been suggesting that anyone would be locked into any exact plan without any discretion, yet even though a newbie might want to lock himself into a strict and scheduled DCA plan for a specific amount of time, so then he might not end up having extra funds for buying extra during any dip that he might perceive.

On the other hand, depending on the newbie's financial status, it might not take very long for him to front load his BTC investment in such a way that he starts to feel that he has the luxury to hold some funds on the side for buying on dips.

I think that many of us in this thread appreciate that buying on dips is usually not a coming out of the gate strategy for accumulating BTC unless you have already bought some BTC or if you happen to come into BTC while the BTC price is falling (or not stable) yet an overwhelming majority of the time, no newbie (or even experienced) bitcoiner is going to have hardly any clue in regards to whether the bitcoin price is dipping or not or going to dip, so most times, the newbie is going to be better off by buying some bitcoin first, before even considering employing a buying on the dip strategy.

I think that many of us know that a no coiner or even low coiner should not be employing waiting strategies when it comes to first getting started in bitcoin, but once he bought some bitcoin (whether front loaded or not), he is going to have more luxuries to consider supplementing whatever had been his initial accumulation approach with buying the dip strategies.

Another thing is that guys, newbies, nocoiners can do whatever they like, even if they do dumb things like starting out their bitcoin investment journey by considering that they need to wait for a good entrance point, and personally, I consider that to be a dumb approach, even though each of us is free to do what we like, including dumb things.  We are ultimately responsible for our own investment choices (including our choices to employ waiting as a BTC investment strategy), and also experiencing regrets, if we had happened to be sitting on a decent amount of extra cash last August/September/October and the BTC prices was bouncing in the $25ks to $27ks and we were waiting for more dip into the lower $20ks rather than using some of our extra cash to buy BTC at that time.. those are our own choices regarding how to employ our extra cash when we have it and if we believe that we are sufficiently prepared for UP while we are hoping for (or assigning high weights to our expectation for) more down..
[/quote]

This is a very valid point, The focus should be on the general principles and considerations for investing in Bitcoin, regardless of the size of individual capital.

Investors with large capitals have the luxury of many options for investing in Bitcoin, but still need to decide how to allocate his capital,
All investors regardless of the size of their capital needs to manage their cash flow and expenses,

 
Post
Topic
Board Nigeria (Naija)
Re: Can Bitcoin help to reduce crime?
by
Jon pyagbara
on 31/07/2024, 04:50:28 UTC
Bitcoin somehow have reduced major crimes, but in the other side Bitcoin also have increased cybercrime. Bitcoin has reduced local crime like stealing, kidnapping and some other local crimes, in the sense that youths don't fancy those type of crime again because they are always busy with their phones on the internet looking for some smart moves and strategies to earn money online through Bitcoin, but it has also increased cybercrime and fraudulent activities online, in the sense that everybody wants to make money from the internet, so Instead of committing there time and patience to learning about crypto currencies like Bitcoin, they just develop a tactics or strategy of scamming persons online.
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Topic
Board Nigeria (Naija)
Topic OP
SEC orders crypto firms to open office in Nigeria
by
Jon pyagbara
on 07/07/2024, 18:11:22 UTC
 The establishment of local offices by crypto firms in Nigeria, as directed by the Nigerian security and exchange commission (SEC), is a welcome development for several reasons:

1. Transparency and genuity: By having a physical presence in Nigeria, crypto firms demonstrate their commitment to transparency and genuity, which can help build trust with the government and regulators.
2. Customer support: Local offices can provide better customer support and services to Nigerian users, such as assistance with transactions, wallet management, and dispute resolution.
3. Regulatory compliance: By setting up offices in Nigeria, crypto firms can more easily comply with local regulations and guidelines, which can help to prevent illegal activities and ensure a safer trading environment.
4. Education and awareness: Local offices can also serve as educational centers, providing training and workshops on cryptocurrency and blockchain technology, which can help to increase adoption and understanding in Nigeria.
5. Internal issue resolution: As you mentioned, having a local presence can help to tackle internal Bitcoin issues, such as disputes and fraud, more efficiently and effective.

This development can help to promote the growth of the cryptocurrency industry in Nigeria, while also ensuring that it is done in a safe and responsible manner.
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Topic
Board Nigeria (Naija)
Topic OP
FOMO and Bagholding.
by
Jon pyagbara
on 16/06/2024, 17:57:01 UTC
The fear of missing out (FOMO) have drived many crypto currency investors into bagholding,  FOMO will make an investor to acquire a coin at a high price, with the fear they might miss out on future gains, and suddenly the price of the coin starts dropping, With the hope that the coin will rise again the investor will still hold unto the coin and the coin begins to depreciate further, this circle repeats turning the investor into a bagholder. So the fear of missing out is actually the reason why most investors are bagholding.
To break this circle you have to
1. Set clear investment goals.
2. Always use the risk management strategy.
If these two are put into practice investing in a coin won't lead to bagholding. Staking coins are good but not when it turns into bagholding.