I thinking this is subjective to what the person wants.. they both have their pros and cons... But for me if it's just for savings to withdraw later especially for emergency funds or for something I'm planning to buy, I would prefer saving it in usdt as it is a stable coin.. but if it's for long-term term purpose where I'm looking to not touch the money anytime soon, I'll put it in Bitcoin..

Hello Bitcointalkers.
So while doing research, I came across a model known as the Stock to Flow model which can be used to determine the value of an asset like Bitcoin  in long term... And so I've decided to share so other beginners can learn from this too.

The Stock to Flow model is a popular framework that is used to estimate Bitcoin price on the long run. It is a model that was first applied to gold, silver e.t.c and it suggests that the value of a scarce asset is determined by the stock(total existing supply) relative to its flow ( the amount of new supply produced every year).

It is calculated as this:
 Stick to flow ratio= Total existing supply(stock)/annual new supply(flow).

A high ratio shows that an asset is scarce
A low ratio shows that the assets is in abundance
 The whole idea is that as an asset becomes more scarce, it value increases.


Bitcoin is very suited for this model because it's supply is predictable and very transparent.. Another contribution to this is the Halving where the number of new Bitcoins created in each block is cut in half every four years. This Halving process helps to give the stock to flow a higher ratio which means that Bitcoin is becoming scarce and so its value is increasing...

Hello Bitcoin talkers..
We know say Nigeria dey always come up as one of the countries wey dey adopt crypto well especially the young people.. and we know say true true no school for the country really dey teach about financial literacy... University nor really dey teach you about how to really build wealth.... But with the rise of crypto, we don see many young people wey don dey understand things about investment, and wealth creation..

  Make we reason this matter: We feel say crypto don change the mindset of young people and the way  we dey reason investment and finance...
If we look am from different point

1. We go see say many people now nor wan dey tied to the 9-5 system again. Many young people now wan be their own oga because them don understand say them nor fit really build wealth of them continue to dey work under person ... And crypto currency Na one of the ways wey them see say you fit be your own oga and collect better money as profit.

2. Before crypto dey rampant, e sure me die say many young people nor even dey send anything concerning inflation ,market volatility, or even wetin be diversification of portfolio. I feel say crypto come make young people dey interested small for matters wey concern economy

Na this two things Na I reason say crypto don help change our mindset concerning Financial literacy asyoung Nigerians... Una fit still help me with others and how e don still help you change your own mindset

This can actually be done with exchanges, bitget, bybit e.t.c. even a local app like Jeroid app already does this... So there are a lot of options to choose from

Omo 1k fit be like small money but Na you get am... Na the reason why we nor dey grow be this o... Na Nigerians dey do Nigerians.. no integrity at all.. as you leave am so, him go do am to another person.. and Na so e go just dey spread.. next time collect your full money o except maybe Na you wan just dash am.. but I don't see the need... Collect your money

One thing we should understand is that the fight between crypto currency and any government is a long one... Crypto stands as a threat to any fiat most especially Bitcoin that is why there are a lot of regulations against it.. even some countries ban the use of it...
I've really thought about it and seen that it will take a whole lot for the Nigerian government and CBN to really welcome that .. the value of naira is already depleting and this adoption will make it deplete more... But we hope for a better future sha

If to say one person wey get level especially for Bitcoin matter sponsor the program, I nor sure say e go be like that... I feel say Na the main thing wey make them organise am be that... To promote their own coin because everybody dey find money and no sponsor... But if to say them get better sponsor wey be say to get profit nor be wetin them dey focus on.. believe me those people wey you think say nor know anything about bitcoin go fit explain am well.. but as sponsor nor dey and the only way to gaine profit from the event Na to promote him coin

Hello Bitcoin talkers
     A lot of us might have heard of the news that Blockchain.com is expanding its operations to Africa and will have a physical office here in Nigeria...I see this as a huge gain for us because for a long while, the Nigerian government have been uncertain about crypto regulations in Nigeria... It's either they are banning or release a ban... Or maybe they are imposing Hight tax and the company had to close down their services to Nigerians. But with this news, I think it's safe to say that the regulation is quite favorable now which  would have also promoted the decision of blockchain.com.
   A thread was made recently about how we don't have a direct P2P platform to convert Bitcoin directly to niara.. ( though I think the Jeroid app Does that) and with Blockchain.com in the picture, we might just be seeing more of this feature.
   However, do we think this is a win for us Nigerians, will it have any significant effect on the crypto community most especially when it comes to P2P?

Threat actors are getting really creative these days and it's very scary that they use normal harmless processing for their malicious activities.
This is a call from use to be extra careful... You really cannot be too careful especially when it comes to your funds... You have to protect it at all cost.

Anybody willing to do this will have to make some sacrifices... Take for example, most social media platforms collect your data and sell to third party companies for money... That is why they are able to give you personalized ads based on your search history and activities and that is basically where the bulk of their money comes from.. but with a decentralized input, this will not be possible as users will have direct control over their data... The company will not make as much money. However there are other things that they can do to make money.. for me, the benefits outweighs the cons.. so I see it ac something that we should have and make use of. I think there are a few of them already available in the web3 space.
   
. but ht will be hard to get rid of other social apps like Instagram,Facebook,TikTok as they have already been available for a long period of time and they have captured the audience so much...

I think this volatility issue is one of the reason bitcoin may be still be secondary to fiat for a long period of time.. due to its volatility...
If a goods is priced at a certain amount of bitcoin, and then bitcoin price drops or trades higher, how then will you start changing the price of the goods every now and then. I know fiat changes too but the price difference in fiat cannot be compared to the massive leap that bitcoin does... Fiat has a centralised body to regulate the use of the currencies as so it's value changes almost every second but the prices of goods are made to remain stable for a long time before changing. But as bitcoin has not centralised authority, I don't think such can really be achieved... And yes even the divisible like Satoshi, mBit e.t.c. are not immune as they also follow the price of bitcoin.

This is definitely worth nothing.. it is one of schemes that scammers use. One can never be too careful.. I do believe that every company that deals with people's data should educate their staf on healthy internet practices because something like this can easily be missed even by the most careful employee which can lead to a security breach.. I think that we should all take time to scan through mails and links even when they are from a legitimate source, you never can tell what is going on at the other side of the computer.

Hello Bitcointalkers
I think we should all be aware if the tending A.I token now. How ever do you think this recent trend is long-term or it is just a hype for now just like the way NFT came and died down.

A lot of people will agree that it is just the recent cycle of crypto hype and these token actually has no real world adoption ....their prices are mainly driven by the excitement and hype around A.I rather than a having real liquidity backup

Other people may agree that because it is integrated with A.I, then it is bound to be long term.. I will agree on the part that the combination of A.I and Blockchain isnt a bad one as it may prove to be a foundational layer for the web3 ecosystem we so crave to have...

But I will like to get your opinion on this ... Do you think that this is long-term or this too will fade as the hype die down... Will you be investing in any A.I token?

Hello bitcoin talkers.
 We have talked about a lot of topics here , ranginging from P2P Scams, trading and crypto regulations... But what really are we aiming for .... What are we building towards?..
 What is your biggest hope for the Nigerian crypto scene in the next 5 years....
   Let's look ahead and take a glimpse into the future ... I'm not just talking about the price of bitcoin and other cryptocurrency... I'm talking about real life impact on our offline communities and our country...

Here are some things I really want us to achieve in the coming years ...

1. The rise of Nigerian Blockchain developers... I would really love to see that Nigeria becomes a hub for Blockchain innovation..where it isn't just about traders and users but also developers...

2. True Financial literacy: I really do hope that in like 5years time, almost all household in the country are aware of cryptocurrency, where school, workplace, and even government empowerment programs includes it into their teaching scheme

3. P2P to Formal market: I really hope to see a crypto market in Nigeria that is fully functional, well regulated and really safe... Where business of all kind and not just individuals can accept crypto payment without fear..

 I would like to hear your vision and hope of crypto in Nigeria system...

This is where education comes in... As you engage in Crypto activities, your circle(family,friends) should be aware too.. you should teach them... It is always advicable to backup your seed phrase offline and one way to make it accessible could be writing it down somewhere... If anything happens, your circle are aware that such thing exist and they may be able to look through important documents that you have to find it in case if emergency......
 Nobody can really be trusted anyway, if not it you could be able to tell someone about the storage if your seedphraseso they may be of help when something bad happens ..but like I said nobody is really to be trusted as you may be betrayed and lose all your funds

I did think about that too... I feel right now people are more geared towards what will bring in money and not necessarily focusing on potential anymore... And with the rise of memecoins, people see them as a means to make more more thereby abandoning NFTs

Hello Bitcointalkers
I believe we are all very familiar with NFTs ... When you hear about it, we often think about digital art, JPEGs and collectibles. NFT has become something of global recognition and many Nigerians have used it to make Monday and gain reputation...  I remember a few years back when a Corper made an NFT from a picture he took of an old man in his PPA and used it to gain some money that he used to support the man...

 Just like crypto currency, I feel NFT has more use case than just selling and collection.. I am of the opinion that as technology advances, NFT may come to have a real life use beyond art collections... Here are some of my opinions:

1. Property and Real estate: I fell we can use NFTs in the future to represent and to securely transfer ownership of properties.. this could help with transparency and prevention of fraud.. It can be used as a digital evidenced/proof to ownership of a property...

2. Identity and credentials: Imagine the use of NFTs To represent a professional certificate, identity or record... This will literally make verification easy and secure.

3. Intellectual copyright: For artists, musicians and creators of all kind, NFTs could serve as an onchain record of intellectual property making it more easier to prove ownership and collect royalties...

I may be wrong but these are just a few things I thought about.... I would really love to hear your opinion if these can be possible in the nearest future.. and what other use case do you think can also be practical for NFTs..

Hello Bitcoin talkers...

So I have been thinking about the journey of a new user in the forum and those joining our community.. We have a lot of reputable  memebers here in our local board and sometimes some discussions may seem overwhelming for new comers, especially for those who are not curious enough or have the drive to really study about Bitcoin.
   I also noticed that some high ranking  memebers are fond of looking down on newbies and making them feel they are not good enough to make some types of contributions to the forum.
 I would really like us to give suggestions on how we can make the forum and our naija community to be more welcoming and friendly to new memebers.  Here are a few questions I have in mind ..

1. While we have a guide about  the forum in the Beginners and Help board, will it also be a good idea to have an official welcome thread on our local board where new memebers can introduce themselves and also ask basic questions without fear of being judged. Not all new memebers can navigate the forum and find information by themselves...

2. When a new user asks a question that has been answered before, instead of just saying "use the search function next time", shouldn't there be a more constructive way to guide them that will not make them feel stupid  because this is a very popular act across the forum...

3. How can we create a community where no question is a dumb question?... Everyone of us started somewhere and at some point, did not know some of the most basic things about Bitcoin...

 A strong community is one that brings in and accommodate new people ... Let's make our contributions in how we can make the  naija board Very welcoming...

Hello Bitcoin talkers..
  We all know that the regulatory body of crypto in Nigeria has been up and down.. today they are putting a ban, and  tomorrow they are lift ban just to oust a ban again...
 But recently we've have some major shift that most financial institutions can now work with some licences crypto currency firms.. this is proof that we can still grow and make progress in this crypto phase..

 However I really want to ask us  How do we think the crypto community in Nigeria can effectively advocate for more favourable Regulations concerning crypto currency in Nigeria...

Here is what I think.

1. We can support other crypto advocate like SiBAN(stakeholders in block chain technology association of Nigeria) and BICCoN(Block chain industry coordinating committee of Nigeria) because they are at the forefront of policy making.. we can become a member or donate towards their agender or just by following up recent activities...

2. We all know that the government main concern about crypto is the issue of fraud e.t.c. even if we know that they want to be in control of fiat... But still if we actively promote legit and strong practice in the use of crypto, we can build a more favorable environment for it to grow ...

3. I made a thread concerning block chain developers in Nigeria.... I feel that we as private individuals can support these startups and local project

I will like to know your thoughts and practical ideas that can be useful in making crypto regulation more favourable in Nigeria...

How can we really educate regulators and the public about the benefit of crypto??
How can we support the existing advocates in the country??

DApps are not just theoretical, with the advancement of tech a lot of things has been proven to be possible... Take for example who would have thought that you can generate a realistic video with faces and physics and even voice without using a camera to film someone... But A.I made it so possible that it is becoming hard to differentiate between A.I and real videos... There is still a lot of room for growth and dApps is not left out... It can be very practical the only problem is the adoption especially with governmental bodies