Search content
Sort by

Showing 14 of 14 results by Tinyphilus
Post
Topic
Board Nigeria (Naija)
Re: Things you need to know before investing in Bitcoin
by
Tinyphilus
on 05/09/2025, 23:56:48 UTC
Bitcoin enthusiasts think in different ways and are confused about what is right and what is wrong. If you are in this situation, then first you should know about Satoshi Nakamoto's cryptocurrency. Why and for what reason the journey of cryptocurrency started. No matter which sector you invest in, there will be risks, to be risk-free, you should first know and understand Bitcoin well. You should do more research about Bitcoin. Because Bitcoin is known as the best currency of the present time. And Bitcoin is also in high demand. There are Bitcoin investors in all countries of the world. So before investing in Bitcoin, you should keep your mind and eyes and ears open. Because there are many possibilities of hacking in Bitcoin and the cycle is endless. People think more about how they can steal your money. You should always be careful. When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)
You cannot invest without money. So whatever you do, try to keep some money aside for investment.

If you invest without patience, you can lose your money. Suppose you have invested for 4 years. But after a year, your patience waned, and you sold your investment in hesitation, due to which you will fail in your investment. However, if you can invest patiently, you may be successful. Try to invest as long as possible, it will be more profitable if possible.

Caution, whatever you do, first of all, caution is needed, such as using a helmet while riding a bike for caution. To make life risk-free. Or wearing a seatbelt before driving a car is also a precaution, so that the risk of death in an accident is low. So you have to be careful in any work. The same is true in investing.

Do more research about Bitcoin, I hope it will be profitable for you.
Solid reminder that btc is not just abt profit but abt mindset. Many ppl focus only on the money aspect forgetting that patience and caution are what separate successful holders from panic sellers and scam victims. Btc is freedom with responsibility. If you take shortcots you'll face the consequences alone. Research in btc never stops, even those that have been in btc for over a decade still learn new tools, threats and opportunities keep coming. Btc rewards the curious and punishes the careless.
Post
Topic
Board Nigeria (Naija)
Topic OP
From Aboki FX to Bitcoin: Is BTC Becoming the New Black Market Dollar in Nigeria
by
Tinyphilus
on 05/09/2025, 01:06:26 UTC
Howfar my people, so for years ehn anytime Nigerians want to know the real exchange rate  of naira to dollar the first place to check na Aboki Fx or parallel market. The official CBN rate has never reflected on street reality so the black market rate became our true guide. But in recent times I’ve been thinking if bitcoin is slowly taking over that role cuz anytime naira drops more people rush into bitcoin as a way to protect value. Just like dollar, people now use bitcoin as a benchmark for savings. P2P trader in 9ja practically set their own own naira to btc rate which often acts like a mini black market of its own. Freelancers sef and people receiving money from abroad also now use bitcoin as the easiest means to get paid.
I understand that there’s still key differences such as the dollar seeing relatively stable while btc is highly volatile, businesses and govt still recognize dollar officially but btc is not yet a legal tender here. But the question na say; is bitcoin gradually replacing the dollar as the alternative currency Nigerians turn to when the naira fails or will it just remain an investment/speculative asset for a minority?
I go like hear una thoughts especially from traders, freelancers and every lady hustlers that feel the effect of naira depreciation directly.
Post
Topic
Board Nigeria (Naija)
Re: Bitcoin as a legal tender in Naija
by
Tinyphilus
on 05/09/2025, 00:34:33 UTC
It's no news that countries have started to think of the prospect of making Bitcoin a legal tender. I'm sure Our Nigeria as a nation have also been considering the pros and cons of such prospect. If, and when it comes to fruition, how does it affect our economy. Surely, we'll have a competitor and alternative for the unreliable nature of the naira, and a great alternative for the supposedly pushed proposition of the Enaira. Obviously, it would solve a lot of problems. Like the inflationary trends and a great store of value. The changes and effects could be limitless.
Bitcoin as a legal tender in Nigeria will give Nigerians more freedom financially as it will reduce the over dependence on naira and foreign currencies to a certain level, but at the same time our leaders are not ready for that level of transparency and decentralization.
If it ever happens the government will still find a way to frustrate the system with new regulations and outrageous taxes.
The positive side if it ever happens is that it’s gonna be of massive benefits to freelancers, no need to beg clients abroad to juggle through other means of payment and it also reduces stress, conversion fees and protect earnings from naira devaluation (imagine receiving payment in bitcoin and you pay your rent, buy groceries etc with bitcoin).
But then, aside the government , another reason why this won’t be feasible is the ordinary Nigerians (market people, small businesses), it will take a lot of time for people to adapt. The challenge will be education and trust… how do you convince mama in the market that Bitcoin is not “yahoo money” lol!
Post
Topic
Board Nigeria (Naija)
Re: Naija Novice Hangout {Newbies introduction & Orientation} Thread.
by
Tinyphilus
on 04/09/2025, 23:23:40 UTC
    Dis new thread dey self moderated to prevent spam and scam like activities. I promise say I no go misuse am, e go only come into use when na for the betterment of the community.


    To avoid newbie welcome thread spam, use this thread use introduced yourself. Ma people I greet una oh, this thread wey I create like dis na for we to come together and welcome every newbies from naija wey join us for this board. No shy here oh, just dey free discuss everything wey you get for mind for here, if you get any questions we dey for your mind, just ask.

    Make we just try our best to obey every forum rules read; Unofficial General Guidelines For Posting( Na de koko dem) by Igehhh

    NOTE:[1]: No go dey trade with another person you just meet for here unless you trust them and all trade related transaction, carry am go Marketplace board and child boards for transparency.

    [2]: Official language Pidgin & English.
    [3]: First timers (All newbies) abeg just introduced yourself so we fit relate weller
    • Username:
    • Gender (optional)
    • Skills (Dis one dey important oh incase person dey find person like you we fit recommend)

    Note: This thread now serve the purpose of welcoming new members to the boards as all assistance and questions can be asked here. Avoid discussing off topic discussion or they'll be deleted. Only welcome users, guide them, answer their questions etc on this thread.

    Thread will be updated regularly and improved as new things are implemented.[/list]
    Username: Tinyphilus
    Gender: Male
    Skills: Interior Furnishings and Decorations | video editing | writing | Town planning.

    Actually created my account since 2023 but have mostly been observing and reading discussions to get familiar with the forum and not make mistakes. I’ve so far learned a lot from just watching especially about Bitcoin , P2P and how crypto affects us here in Nigeria 🇳🇬
    I think its finally time to be active and contribute so I’m looking forward to learning more from experienced members and also sharing my thought where I can.

    Thank you for the opportunity
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 04/09/2025, 02:33:48 UTC
    For those who have been in the game longer, what was your first impression when you realized how it actually works?

    Well, it was a while ago, but it was something unfamiliar and complicated, yet exciting at the same time. Seeing that you could send money to the other side of the globe anonymously through a system that didn't depend on banks or governments, and that had variable transaction times (depending on the fees used, or if there is a huge dump of transactions just when you send yours), was all quite different and left me puzzled. But the more I learned, the more sense it all made.

    I can't agree less. Sometimes the best things are the ones that feel confusing at first. I also tink that puzzled state of mind is actually necessary in the sense that it filters out individuals who are not ready to take personal responsibility.
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 04/09/2025, 02:19:56 UTC
    Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?
    To be honest, my first impression of Bitcoin was very scary and that's why I was afraid to invest in Bitcoin at that time. Even though I invested in Bitcoin, I was initially afraid of Bitcoin wallet management. But gradually I got used to everything and Bitcoin seems to me to be the most secure. Because there is no authorization required to make a transaction here, I am the controller of my Bitcoin. So there can be nothing more secure than this. Those who are still confused about Bitcoin are far behind. And I think the first impression of Bitcoin was very scary for everyone who came to Bitcoin early.
    I can relate completely cuz at first the thought that people can't erase erase a mistake or recover lost keys feels like a big risk but along the line becomes clear that same feature is what makes Bitcoin most secure. The interesting part is how fear turns into confidence once you give yourself the chance to understand the system.
    Do you think this first impression/fear is one of the major reasons why adoption of Bitcoin is slower in some places? Cuz I've met quite a number of people which that fear/impression discouraged them even before reaching the point of understanding.
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 03/09/2025, 14:01:57 UTC
    Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

    Everyone is very accustomed to the banking system, where you can always contact the support service or pension office and complain that money has disappeared from the account, but in the world of cryptocurrencies, as you correctly noted, we ourselves bear full responsibility, if someone has lost the keywords for restoring a Bitcoin wallet, then no tears and no support service, because they will not be able to help in any way. Therefore, cryptocurrencies teach us to be very independent and careful.

    I completely agree. I have a friend who basically introduced me to the world of cryptocurrencies. He once got a lot of ETH practically for free, but then he forgot where he had stored the seed phrases for the wallet. For a long time, he tried to figure out how to regain access to it, but unfortunately, he never succeeded. Sometimes our own carelessness prevents us from becoming very wealthy,this is a clear example from my life.

    That is a perfect reminder that in crypto the most important thing is discipline and self custody. The same system that gives us financial independence also punishes negligence without mercy. Myself, I've also had my own share of pain in the past due to my negligence which led to my loss in crypto. In the end technology doesn't guarantee financial freedom but personal responsibility and discipline does. In my opinion, in Bitcoin, freedom and responsibility are two sides of the same coin.
    Post
    Topic
    Board Altcoin Discussion
    Re: What happens if Bitcoin goes defi?
    by
    Tinyphilus
    on 02/09/2025, 15:39:54 UTC
    DeFi on Bitcoin L1 will never be a good idea to me. Bitcoin’s strength has always been its simplicity and security. Adding extensibility risks turning it into the same playground we’ve seen on other chains. If people want DeFi, there are already ecosystems built for that. Bitcoin doesn’t need to copy them, it just needs to remain the most secure, permissionless money.
    Post
    Topic
    Board Altcoin Discussion
    Topic OP
    If Ethereum disappears tomorrow, which altcoin will take it place?
    by
    Tinyphilus
    on 02/09/2025, 13:55:20 UTC
    With ethereum being the backbone of DeFi, NFTs and other countless Altcoin projects, if it happens to disappear tomorrow, which Altcoin do you think will take it's place? Or maybe no single altcoin can replace ethereum?
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 02/09/2025, 13:17:33 UTC

    Impression, personally Bitcoin blockchain works very well, secure, permissionless and irreversible.
    [/quote]
    Out of secure, permissionless and irreversible which one do you think impacts Bitcoin use the most in the real world?
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 02/09/2025, 12:55:08 UTC
    Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?
    Having used centralised platforms for a long time, it is common to be scared of becoming your own bank. The responsibility of keeping your keys safe from both online and offline threats might be scary. We are used to shifting financial responsibilities to centralised organisations. But as we gain more experience, we realise that it is far safer than keeping money in banks. At first, I thought it was too risky to keep Bitcoin, but lessons on privacy and security have allayed those fears.     
    Thank you. What was the one thing that made you feel secure about it?
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 02/09/2025, 12:47:27 UTC
    Agree with what has been said above. After years on this forum, your first impression is hardly being discussed. At best, people ask that to eventually correct some of your assumptions about crypto, which doesn't have to happen if we're discussing crypto in-depth. Your misleading assumption will get ironed out eventually.

    As for your feeling that personal responsibility is important to secure your crypto, that's not wrong. Self-custody is great. Some people dislike it because it feels inconvenient at times, but trust me, you'll accept that trade-off if you know how often people lose money because they trust an exchange yet that exchange got hacked or something else happened to them. 2FA or something isn't a magic tool either. You must understand what they do before you use them.
    Makes sense. Have you ever had a personal experience that made you learn not to ever use third parties or you learnt from other people's experiences?
    Post
    Topic
    Board Bitcoin Discussion
    Re: What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 02/09/2025, 11:28:18 UTC
    If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?
    your first impression does not really matter as such. what matters is the truth about bitcoin and the whole ecosystem which helps protect you from losses of any kind. As a newbie there is going to be so many wrong impression you will have most of which tilt towards an ideal believe about bitcoin that are actually too good to be true. that is a common thing with most investors and forum users but with time, you should learn by going through threads on the forum which will guide you into real fact about bitcoin and not just an impression that is based on some random narrative you got outside.

    As for your keys, it is as important as your coin so if you value your coin, you sure want to ensure that you keep your keys as safe and secured as possible.

    Yeah, thanks. Makes sense that first impression can be off and more reason why I like this forum cuz people get to share the real side of things. Nonetheless, the keys and coin point hits hard as it really shows how much responsibility is on the individual. For you personally, what was the first 'truth' about Bitcoin that changed the way you saw it?
    Post
    Topic
    Board Beginners & Help
    Merits 1 from 1 user
    Topic OP
    What was your first impression of how Bitcoin works?
    by
    Tinyphilus
    on 02/09/2025, 01:15:07 UTC
    ⭐ Merited by internetional (1)
    Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?