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This is the first Bitcoin news I'm seeing from Norway. At least it's good to know that Norway is friendly to Bitcoin and not against it unlike some countries that are not Butcoin friendly, hence will never see big companies investing in Bitcoin due to fear of the government. I can't help but get super excited about the future of Bitcoin because more institutional investment we have in Bitcoin, the better and more stable Bitcoin becomes.
Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
For the long term investors, this is even the period to buy more and hold because the market is only making correction instead of selling your bitcoin at of panic.In other hand for short term investors this may be period to sell if you are already in profit and wait for major dip for you to buy again at lower price and hold till the price is up again base on your investment plan and target .What's your take on this? Given the period we're in is it buy time or sell time?
It is wrong to try to force someone who have no knowledge about Bitcoin to invest in bitcoin. The first thing to let one know while introducing bitcoin shouldn't be to buy bitcoin, the first thing should be volatility of the market and security and self-custodial wallet, after all these you can proceed to how one can buy bitcoin(strategies). Buying should be the last thing to introduce to beginners about bitcoin because if you are too fast to convince someone to buy, it will be very difficult for the person to cope with market volatility.
If you focus more to make sure the person you are introducing bitcoin to understand the market very well it will be of great gains than convincing to buy bitcoin without understanding which buying might not profitable at the end.
Yes, it is wrong to force anyone to do things that didn't come from their heart. But the first major stuff newbie ought to know is the purpose of Bitcoin creation, functionality of Bitcoin blockchain, and transaction which I believe will make them love the technology aspect of Bitcoin than benefits aspect. If you focus more to make sure the person you are introducing bitcoin to understand the market very well it will be of great gains than convincing to buy bitcoin without understanding which buying might not profitable at the end.
Second, how to use a self-custodial Bitcoin wallet securely (how to secure their bag, and also have to do with transaction fee), and they can then be taught the volatility of the market.
If they are taught about market volatility at first, they may be greedy and believe that they know everything.
[edited out]
.....However, I will not agree with you on the aspect that Bitcoin is not the only asset to invest in unless you add more clarifications to that statement because it is sounding as if you are supporting the idea of investing in shitcoins. There are other assets like you said but they are generally shitcoins that have so much risks attached to them. If we allow the idea that there are other assets to thrive, then it could be a motivation for people to start looking for other alternatives and this will make them end up investing in shitcoins and at the end lose their money. Bitcoin is just enough for anyone willing to invest for the future, so our efforts should be on how to buy and hold Bitcoin and nothing else.Those who invest in Shitcoin, whether new or old, have a lot of greed. It doesn't matter whether the holder is new or old, the point is that if we target Bitcoin, which coin we are targeting, then our goal will be successful. And if we invest in Shitcoins with the aim of making more profit, then we can lose all our money, you can be sure that investors in Shitcoin can never be successful.
But those who have invested in Bitcoin, whether it is a small amount or a large amount, if the investment is long-term, then their success will be guaranteed, because Bitcoin is the only trusted coin. If you invest in Bitcoin, no matter how much money you invest, you can be successful and earn more benefits.
Success in Bitcoin is not guaranteed and the reason why we are advised that when we invest, it should be from our discretionary income because Bitcoin is not risk free so you shouldn't sound like it is risk free so will not end up misleading people in to thinking that Bitcoin is risk free with your expression we are only encouraging ourselves to put in good investment practices and not to say that success in Bitcoin investment is guaranteed, even though the risk can not be compared to that of the shit coins.
I don't think we are suppose to be talking about Bitcoin investment been guarantee or not because to me it doesn't make any sense though it is good to be realistic but how will one be talking about what they are investing into in such way. Even if it is not guarantee like you guys said it shouldn't be something you guys will be emphasizing on like this because this information can mislead or change newbie mindset towards Bitcoin investment because if we say it is not guarantee then what is now the difference between Bitcoin investment and trading since they both are not guarantee so I will advise we don't use this language or word here because of the effect it will have on someone who is yet to know what Bitcoin is all about.
Due to the volatility of bitcoin, there are days when the price of bitcoin skyrockets so high within some hours or within 24 and some days the price also falls drastically and tries to cause panic in the market so i was thinking that won't it be advantageous for someone who chooses to DCA everyday such that he can have the opportunity to buy at DIP prices since the market also experiences short time market fluctuations some days
I think buying Bitcoin everyday is a good strategy but it based on your income, the flow of your income determines if it's okay to keep up with this as a strategy. But I'll clearly advice for those DCAing looking at the fluctuations rate of Bitcoin price , there should be limits to buying because alot of traders what they do is buy at a higher price and sell out at a low price which is not fair enough or profitable and this is because of panic to have a loss when Bitcoin price goes down. So it's better to buy with consciousness.
Also even if you are using DCA method I see nothing wrong to use lump sum method once in a while when there is a major dip depending on your income that is to say if you buy bitcoin everyday you may not really have enough funds to buy more at the dip.Atleast buying weekly is better.
I have to go with @Dunamisx on this, the Bybit hack should only have a little effect on the market, Bybit is just an exchange and it's not all its money that was stolen. Perhaps you talked based on what is currently happening in the crypto market, it may happen with or without the Bybit issue, the $1.4b hack is too small to cause a serious issue in the crypto market. What happens now is a result of the persistent hovering of the market beneath upper resistance without a breakthrough due to the inability to attract more liquidity. This eventually created FUD in the market which resulted in what we see now. However, I see this as a temporary setback, so expect Bitcoin to move higher than before by the time it bounces back.
I hope it's temporary and the market recovers pretty fast.
That would be great to witness after this sell we see
All I know is that Bitcoin will always overcome any hurdle that comes its way, it's a moment of challenges, it SHALL pass and Bitcoin will wax stronger and greater on the comeback to break above even higher levels.
At times, this kind of selling is needed to gather the needed momentum. Think of it like a ram that moved a little backward to gather the needed force to knock down the opponent.
There's probably another way of looking at the situation if asked "if it's too late to buy Bitcoin". It's an accepted FACT that Bitcoin has not reached it's true potential. It's an accepted FACT that Bitcoin has not absorbed all potential participants in its market. My personal belief is that Bitcoin will never stop breaking its own all time hign of it still has not broken Gold's market value.
Impossible? I believe not. Improbable? Maybe. BUT nation-states have only started to notice. Large asset managers like BlockRock have also only started to notice. Shower thought.
You are correct bitcoin still have more potential to absorb. This word ''too late'' is really an enemy of progress even in our daily life because it bring so much fear to start afresh or try new thing as well as bringing limitation to our progress. so many people even me have lost so many opportunity thinking is too late to start afresh or try new thing at the end it turn out to be an opportunity lost. This is also the reason why so many people who could that have large bitcoin portfolio today to miss the opportunity because they though is too late to invest. So many people now are regretting looking at some years past when they had the opportunity to invest in bitcoin looking at the price of bitcoin now.Impossible? I believe not. Improbable? Maybe. BUT nation-states have only started to notice. Large asset managers like BlockRock have also only started to notice. Shower thought.
We may be inclined to think about other coins, but in the end, BTC would be the main coin to hodl and watch for.
Simply due to the value and acknowledgment BTC gains now because of the ideas it upholds.
If you are considered other than Bitcoin, you can get a profit from that coin after a certain time after investing. But if you are holding a bitcoin, then you will benefit from that Bitcoin in the future. According to Bitcoin's popularity and acknowledgement, its value is gradually increasing in the future, which is reduced instead of increasing in other coins.Simply due to the value and acknowledgment BTC gains now because of the ideas it upholds.
It's not important to create an emergency funds before starting your Bitcoin investment, because it's irrelevant. No need to keeping too much fiat on you when you don't have any bitcoin. Emergencies may/maynot come, but it's good to prepare for it. This is why emergency funds shouldn't be our priority but buying bitcoin should be, because bitcoin price waits for no man. You are investing on a long term investment and you have all the time to build your emergency funds as you are investing. Your emergency funds is a backup to your bitcoin investment and not your bitcoin investment been a backup to your emergency funds. There must be a bitcoin investment before your emergency funds will be effective.
It's only viable if you don't have almost any cash intact and would have to oblige and get out of the market by, unfortunately, selling off your BTC.
Other than that, BTC investment doesn't have any risk to it at all.
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Because I don't believe that for example a trader is not interested in investing in bitcoin. Because traders have certainly continued to observe the market for years (for those who have been around for a long time), so they definitely know more about the progress of the Bitcoin price every day. The price of bitcoin over the years have been studied and some folks who are called technical analyst even find it very difficult to know which way bitcoin will go even though we have events that do point out that bitcoin will be bullish or bearish yet the exact price are mere speculations which somehow for some people falls to be closer or close to what bitcoin price is at the moment yet anyone claiming to know the price of bitcoin with whatsoever tool they use to analyse is probably making a guess.
I think all the small investors who have the habit of selling Bitcoin actually don't understand anything about investing. But I don't agree that big investors have a habit of selling Bitcoin, in fact they are called big investors because they buy Bitcoin regularly and own a lot of Bitcoin. That is, they are very experienced and patient, so they have been able to increase their Bitcoin holding, and even have a lot of patience to maintain their investment. So it would be wrong to say that big investors have the habit of selling Bitcoin.
Not only is prudent income necessary for small investors, it is much more important and necessary for all investors. In fact, in many cases, many use the words prudence and disposable income, so they should know properly.
Not only is prudent income necessary for small investors, it is much more important and necessary for all investors. In fact, in many cases, many use the words prudence and disposable income, so they should know properly.
Everybody needs to fix their profits eventually.
The thing is most smaller investors are not standing on the same stable ground as the bigger ones - they still need to think about their potential risks and much more, whereas guys in suits and a bit lower don't need to think about it.
How we dey naija, Okay let's do something unique today, tell us your current location, 3 square meal you plan to eat today, Give us one wisdom quote, tell us one thing bothering you and finally tell us what earns your money? You know our naija people help from each other, make we follow learn. Thank You
I think the purpose of this forum is not for joke or story platform. This place is more of serious minded, a place where important and educating topics are expected to be share for people to make contributions and learn from one another and also adding values. Please let be more serious.I’m constantly buying when I’m able to. In a few years the current price will seem like a joke. Anybody who isn’t buying now will majorly regret it.
Yes that's the Spirit. Consistency in accumulating is the key to this our business. I know some people may be discourage at some points but being able to stick to your investment is what that matters.A lot of traders are dumb to believe that they are able to consistently make money on trading in order to be able to live off of their trading. It likely would be best to have a separate income so that you are building up your trading capital and experience, and sure if you have two accounts, then you can also build up your investment capital with your other speparate income.
Sure, if you are able to build up your experience and your trading capital to a certain amount, then maybe at some point you will be able to withdraw some profits from from your trading account, but it seems quite unrealistic to presume any kind of an ability to live off of your profits from your trades, especially in any kind of consistent or meaningful way. Many traders work pretty hard to build up the capital in their trading account(s), yet sure, I am not going to deny that traders may well have unrealistic and dumb fantasy ideas like you mentioned - a belief that they can actually draw income from their trading account (and trading activities).
Edited to clarify
You are right, many traders fantasize excessively about living off their trading results. Although this is not impossible to realize. But I also believe this is very difficult to do. Because trading is not as easy as we imagine. Maybe many traders misunderstand this ideology (buying when the price goes down and selling when the price goes up). If you don't think about it, it sounds easy. However, in reality this is very difficult to do perfectly. Therefore, to be able to realize consistent profits from trading, in my opinion, will be very difficult. Because apart from that, traders are also sometimes manipulated by whales who have a lot of capital. So for these reasons, I don't think becoming a trader is the right choice. Because being a trader really takes up a lot of our time and also has the potential to waste a lot of our money. So it's better to just invest in bitcoin if you have cold capital. Because investing in bitcoin will definitely feel lighter on our minds.Sure, if you are able to build up your experience and your trading capital to a certain amount, then maybe at some point you will be able to withdraw some profits from from your trading account, but it seems quite unrealistic to presume any kind of an ability to live off of your profits from your trades, especially in any kind of consistent or meaningful way. Many traders work pretty hard to build up the capital in their trading account(s), yet sure, I am not going to deny that traders may well have unrealistic and dumb fantasy ideas like you mentioned - a belief that they can actually draw income from their trading account (and trading activities).
Edited to clarify
So I find it difficult to believe that while I anticipate that one day, at the end of my holding period, that I may have no need to continue working, but live off my investment, that they too can anticipate as well to live off their small trading portfolios, or the profits they don't hold, but spent immediately it came.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
We are Hodling yet we are lossing our bitcoin Marxists.
Bear trap is touching the souls for the weaker hands.
Bear trap is touching the souls for the weaker hands.
You are mixing up "Maxis" and "Marxists".
It ain't the same thing, lol.
That is...if lossing is 'losing', which it probably is.
My friend was like this one wey you carry all your energy and almost all part of your income dey invest in BTC make BTC no give you high blood pressure one day oh no say I no warn you oh, I was like see this one me wey trust BTC pass my bank, BTC is a typical example on how human being dey take dey crate value for them self no be rational currency, like fiat money oh everything about BTC now legit one, the volatile history clear, market value clear, store of value clear, so wetting you won tell me again, and him come say since you are investing in what you believe there no problem, and me too told him believe what you know my trust for BTC ney wetting dey motivate me into the future mostly now wey we dey bull run.
I don't think your approach to this bitcoin investment is good enough. In as much you are accumulating bitcoin does not mean you should invest almost all your income in bitcoin. Is wise to always set outside some funds for basic needs and emergency if possible invest what you can afford to loss. Is not too good to only focus on the positive part of this investment also consider the negative part of it if everything goes wrong so that you will not have high blood pressure just like your friend said.Good morning my senior men for the furum. I greet una.
Considering the way bitcoin prize they fluctuate today em dey down, tomorrow em don high, many people including me I dey little bit lost I no fit know when to sell again.
you fit sell today at a current value of $100,279.70 and tomorrow the price skyrocket or you fit say you Wan leave am make the price high small before you know the price don fall.
So na watin need quick attention, make we talk am so one fit know when best to sell our investment. Thank you
For me before you start bitcoin investment you should set a goal or target this will help you to know when to take some profit and not to sell your investment. Is also good to be flexible in your bitcoin investment for example you may have different scenario of where bitcoin price should be but at the end you major scenario does not play out is left for you to follow the one that play out instead of fixing your mind on a particular scenario just like JayJuanGee said that he had different scenario while looking at bitcoin price movement at the end it was his minor scenario that play out for him and he was flexible enough to make good use of the scenario that play out instead of fixing his mind on his major scenario.Considering the way bitcoin prize they fluctuate today em dey down, tomorrow em don high, many people including me I dey little bit lost I no fit know when to sell again.
you fit sell today at a current value of $100,279.70 and tomorrow the price skyrocket or you fit say you Wan leave am make the price high small before you know the price don fall.
So na watin need quick attention, make we talk am so one fit know when best to sell our investment. Thank you
Re: The cost of running a business in Nigeria electricity needs
Electricity is a very vital part of business that needs to be addressed, because every business needs electricity, therefore,for someone to venture into a business in a country called Nigerian,first of all,he must know that Nigeria is not like America or other developed countries, Nigeria is passing through a lot in the hands of the government,so if there is need for the individual to adress the issues of light,before venturing into the business,he should better do because there is no guarantee in Nigeria that light will be constant.
Therefore,one must put the cost of Solar light into consideration.
Therefore,one must put the cost of Solar light into consideration.
The issue of electricity is something that has been there since the time of even our colonization and when we got to gain independence and the funny thing is that there are so many government that have come and go yet still no vital solution to the issue if am not mistaken I would even call this electricity problem in Nigeria as one of the never ending business of political power head that have yielded them so much profit that it has gotten a regular of issue of everyone government ranting same old things about fixing the power supply.
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If you are saying that business is not for everyone, it's quite understandable because not everyone has what it takes to run s business, but when it comes to investment, it's like making your money work for you, and Bitcoin investment falls into such category where you buy it, hold and let it grow overtime, since it's an asset that appreciate in value overtime.
Actually find no difference between trading and gambling.Basically trading have both feature of being a gambling and not being a gambling depending on the approach. If your approach to trading is to get rich quick it become a gambling to you no matter your trading skills. But if your approach is to get it little by little with sustainability mindset it will become a business and investment to you. I have seen people that trading have transformed there life with this approach of taking it little by little. Although is more of short term investment. But if you are looking for long term investment bitcoin accumulation is the way.
The best time to sell your investment often depends on several factors, including market performance, your investment goals, and whether your investment has reached your target price or value. It's important to assess the overall market conditions, such as economic indicators and trends, as well as your personal financial situation and investment strategy. If you have specific goals or a target return in mind, that can also guide your decision on when to sell.
You can also sell your investment if there's a pressing financial needs,or obligation that might prompt you to sell your investment no matter the market conditions.
The decision to sell investment should always be carefully considered because of the individual circumstances and investing strategy.
You can also sell your investment if there's a pressing financial needs,or obligation that might prompt you to sell your investment no matter the market conditions.
The decision to sell investment should always be carefully considered because of the individual circumstances and investing strategy.
I don't think selling your bitcoin investment anytime you have financial needs is the best ideas more especially if you are a long term investor. First before you start investing in bitcoin you suppose to have source of income and set outside some funds for your basic needs and possible have an emergency fund so that you don't tamper your bitcoin any how.