₦airaland Forum

PSG wins. Wow, isn't it sad that all the Black players missed their penalties?

Dembele scoreeees!
PSG 1- 1Arsenal
It will still end PSG 2- 1 Arsenal

Wow arsenal scores first.
It will still end PSG 2 - 1 Arsenal

PSG 2 - 1 Arsenal

Mariangeles:
Another way to make it rise again, and keep it going.

You people always come out to tell people to buy and keep buying once it's falling.
The more people are into it, the less likely it is to crash, right?

I started buying Bitcoin back in 2013 when it was about $200 a piece. I'm not here to get more people to buy so it wouldn't crash, rather I'm here to tame the fears of emotional investors who haven't experienced a bear market before. Go through my post history, I've always advised people to buy and hold, been saying this same thing for over a decade now. I say the same thing when it's rising and when it's dumping. Heck, I even came out to say people should buy Bitcoin when it hit an All-Time-High of $100,000.

It's funny you say I'm trying to persuade people to buy so It doesn't crash. Like seriously do you think Nigerians as a collective have the kind of buying power to really move the needle of a $1.5 trillion asset? How many nairaland users have the expendable cash to make a dent on it's market cap? Is it the $5 weekly purchase I'm encouraging them to make that will prevent Bitcoin from crashing?

Bitcoin changed my life and that of my household. I have always said people should convert some of their life savings into Bitcoin. It's never too late to get involved today, we are still on a trajectory to exponential new highs. But bear in mind, it will never be smooth sailing. Bitcoin remains the best performing asset class in over a decade. Buy and hold for the long haul.

The price of Bitcoin is not down because of the Epstein files, rather it is down partly because Trump nominated a hawkish Fed president to replace Jerome powell. This coupled with frothy valuations of AI companies, high unemployment numbers and fears of a sudden "risk-off" global sentiment. Bitcoin and other high beta stocks are feeling the brunt of it as more investors are fleeing to safety by buying Gold and the U.S dollar.

Bitcoin is a very volatile asset, it has always been and I keep saying it that it will be for many more decades. In the grand scheme of things, it is still a new asset class despite major institutional adoptions, it's history pales in comparison to the stock market for example.

My only advice to anyone reading this comment is to ignore the noise and buy buy buy. Set up a recurring buy order and buy at frequencies you are comfortable with. You can buy $5 every week or every month. Just keep buying but don't try to time the market. Regardless of all the manipulations and distractions, Bitcoin is heading to the moon. You simply have to buy and hold and enjoy the ride.

armadeo:
Eth shock me pass this cycle. Poor man's btc. It didn't do shot. Couldn't even hit 5k.

Well siddon look na him we dey so.

I'm already priming myself for my next play. Strict scalping of levels. I will not buy anything and hold. Only btc. Never to sell.

Another one

ElectronicMoney:
As far as this thread is concerned only Ogogorofreak and other BTC maximalists are going to the moon, the rest of us are already in the village!

Most of the altcoins we're holding will not even survive till the next cycle but BTC will still be standing come what may!

Many people will never accept this until they've lost all their money buying crappy coins, trading and trying to time the market. After running out of fresh money to use for gambling, I mean 'trading', they will avoid the crypto space for a long time, but guess what, they will still return and a majority of them will repeat the cycle again and lose it all but a few repentant once will finally accept that Bitcoin is king. They will start stacking only Bitcoin with long term horizons. They will be the ones happy to see bitcoin selling off so the can buy more. The peace of mind you get just from holding bitcoin far out ways any potential 100X pipe dream any alt can promise.

I've been in the crypto space long enough to know never to flaunt anything and to remain as anonymous as possible. Quite sad how many people make themselves easy targets.

Coiner:
Crazy market manipulation. One can't even be too careful as the candles pump and dump like flash. Ethereum was never this volatile, even Bitcoin. Everything just feels re-engineered.

It has always been volatile and always will. Even at over $100k per BTC, I still have the mindset that it can drop to $5k any time, but never to $0. We are closer to $10 million per coin than $0, that's how volatile it is. Best to buy incrementally, and hold for the long run as it still remains the best performing asset class in years.

Chilipepper:
Uptober has turned to downtober

LOL. Be wary of crowded trades. I've been in crypto for so many years and the hype of the 4yr cycle has been the loudest since last year and this year. I mean just about everyone on social media is talking about the 4yr cycle and how the high of this cycle will happen between october and November. Again, people trying to time the market. They want to make huge profits with very little risk.

This is not to say the predictions will not happen this year. But crowded trades have a tendency of not playing out as expected because with any hiccup, those short term investors will jump ship and flee.

If God spares my life for another 100yrs and Nairaland still exists, I will continue to come here to remind everyone that buying and holding bitcoin for the long run is the tested and proven way to make money in this space. Thinking you can always predict the movement of such a volatile asset is a fantasy.

That's a good question. No one would have access to my phone unless they use my lifeless thumb to open it. But in my case there's no reason to have access to my phone, I already have estate planning that includes disbursement of my bitcoin portfolio to my wife and children.

What a time to be alive. We have come a long way and we have a very very long way to go. Viva Bitcoin!

Alphabyte3:
Buy the dip there is no perfect market timing . Note it is unpredictable in knowing market fluctuation . If you are in it for a long term it will rebound just be patient since it would yield more profit as historical trends shows recovery and growth.

Truer words have never been spoken. But sadly, a majority of people will never heed to this advice. The urge of doubling and quadrupling money in such a short time span is so enticing it makes people forget the odds are stacked against short term traders. These are the same people who said Bitcoin was too expensive at $20k so it's best to trade alts instead because they can yield 100X more due to their smaller market cap. Where are those same alts now that BTC is over $100k? Many of them have lost over 90% of their value.

These same people see Bitcoin at about $100k today and say oh it's too expensive, and alts will have a better ROI. They say things like by the time Bitcoin will do 2X, their alt would've done 50X.

Seriously just look at the Bitcoin chart from inception and just buy and hold. Everyday is a buying opportunity for Bitcoin. Buy $1 everyday if that's all you have and you will outperform any alt in the long run.

You have yourself and no one else to blame for holding a worthless paper currency in the digital age. Do yourself a favor and convert your savings to Bitcoin. Seriously it is highly irresponsible to keep your savings in fiat, be it dollar or naira.

With Bitcoin making a new All Time High of almost $112k, I decided to scroll through my previous posts and I came across this post from 11yrs ago when I tried to sell bitcoins on Nairaland. Extremely sad to see how devalued our currency has become since then. The best advice I can give anyone is to convert a majority of your savings into Bitcoin. All fiat currencies, from Naira to dollar will continue to lose value due to hyper inflation and unaccountable over printing of worthless paper money. Keep stacking, keep DCA, your future self and children will be proud and happy you did something at this pivotal moment in human history. As funny as it sounds, we are still very early on this journey. Where we are now, pales in comparison to where we are going.

Addiction of any kind is very hard to quit, so kudos to her for quitting and using her platform to reduce the stigma. By so doing, she may have empowered some members to follow suit.

Youngzedd:
Whoever says HODLing is easy is a liar.


HODL

It's easy when you know where it's going. The sell-offs are meant to test your resolve. From day one, holding and dca has been profitable and will continue to be profitable for the foreseeable future.

BTC at $100k! What a time to be alive. At this level, we have reached escape velocity. The probability of Bitcoin dropping to $0 is far less than the probability to reach $10 million. As always, hold and DCA for the long run. Our journey to the moon has only begun.

I'm genuinely happy to see so many people encouraging patience and holding long term on this thread. Patience really pays and it's less stressful than short term trades where manipulators can hunt your stop loss, fake you out and all sorts of shenanigans. Long lasting wealth is made by slowly accumulating assets over a long period of time. I have friends who made so much money trading stock options during covid only to lose it all. Greed took over them, they will make $60k in a matter of minutes trading Gamestop (GME) options. Instead of walking away after such a lucky and speculative trade, they got greedy and felt they could double or quadruple it again only to lose it all. The gambling spirit kicks in and all they want to do is make back what they lost and they keep doubling down hoping they can turn things around but their loss keeps getting bigger. One guy lost his marriage and another one is homeless now. Most of them are depressed and hopeless till this day.

Bitcoin has blessed me plenty fold and I'm grateful because when I was younger I never thought i would attain generational wealth nor would it come from a virtual currency people said will drop to zero. Please for the sake of your mental health and your future, don't day trade, buying and holding is far more profitable than short term trading. If you've not proven that you can profitably trade a small portfolio consistently for 2 years, don't bother with it. Good luck!

BUUUUUUUUUUUUULSSSSSSS

Bitcoin is at All Time High!!

OgogoroFreak:
Bitcoin 2021: $67,000
Litecoin 2021: $390
Ethereum 2021: $4,600
Cardano 2021: $2.90

Bitcoin 2024: $67,000
Litecoin 2024: $69
Ethereum 2024: $2,450
Cardano 2024: 32 cents

I love bitcoin 😍

I love you too

Siberia01:

Sorry about that , I hope to make it big this cycle
I promise myself I will never trade anything apart from BTC/ETH

Alts are scams

Wisdom. We learn from our mistakes and vow never to make them again.

He should show us his passport before we can believe him.

Here we go again

Chingyyy878:
I’m thinking of buying 500k in bitcoin and add to my wallet, is this advisable?

Everyday is a buying opportunity for bitcoin.

author=GMBuHarry post=129904448]Fellow Nigerians,

I would like to use this opportunity once again to urge you all to please stop doing Futures Trading on Crypto Exchanges.

The allure of daytrading is so enticing and that's why people venture into it only to realize that the odds are stacked against them. Only 1% of daytraders are consistently profitable for at least 2 years. I've been buying bitcoin since 2013 and I have met so many traders during this time and I don't know one person that has been profitable daytrading crypto. Some of these people had several hundreds and thousands of bitcoins as far back as 2013, had they just held, they will be billionaires but they thought they could time the market.

If you check social media, most of these traders like to post screenshots when they made money but nobody post their loss. The so called trading gurus like to post pictures of nice cars and luxurious vacations as if they are making money from trading but when you check their profile, they are selling discord or patreon memberships. All their gains are made from selling memberships and not from trading.

Nobody posts their broker statements to prove they are profitable, but they are quick to post any good trade that worked out In their favor. What surprises me the most about daytraders is the lack of accountability in the community. Why isn't anyone asking to see proof before even taking someone's advice? If I'm paying someone money to teach me trading, I would like to know you are legitimately making your money from trading before teaching others.

Three reasons why I've always had a long term horizon and dislike daytrading. (1) I remember the story of the California 1850 gold rush; most people who flocked to California to mine gold ended up broke while the companies selling the shovels made so much money. Those selling the dream AKA trading platforms and gurus are reaping billions in profit while 99% of traders lose money. This is the very reason why my first bitcoin thread on nairaland was about creating a remittance business model similar to Western Union where we would charge less than WU and still turn a massive profit. I wasn't even interested in holding bitcoin at first, the idea was to send bitcoin instantly with virtually no fees, but still charge customers a fee that's significantly less than what WU would charge.

Second reason for my long term horizon has to do with a news article I read sometime in 2011 about Warren Buffet challenging hedge fund managers into taking a bet that they can beat the performance of the S&P 500 index in 10years time. Warren Buffet promised to give $1million to any hedgefund manager who could beat the S&P in 10years time. The challenge was actually started in 2008 and in 2018, the S&P outperformed the hedgefund manager who took the bet so he had to pay Buffet $1million. Just the fact that Buffet was willing to risk his reputation as one of the greatest investor of our time just to prove that actively managed portfolios perform worse than simply buying and holding made me really abstain from trading anything, crypto, stocks or forex.

Thirdly,I was sold on bitcoin's limited supply. 21 million bitcoins is all the bitcoins the world will ever have. In 2013 I remember people saying 1 bitcoin will be as high as $1,000 someday but most of us didn't even believe it was possible. Then along the years crazy investors like Cathie Woods said one bitcoin will be $144k, I think she has since revised her future prediction from $1.5 million to $3.8 million. While it feels good to see these lofty price predictions, nobody really knows how high it will get. Back in 2015 or so when she said it will hit over $100k, it seemed far fetched, but after hitting an all time high of over $73k, it doesn't seem so far away now. Just buy and hold, it could hit $1billion in your lifetime, or $1 million, nobody really knows. But the biggest mistake will be trying to time the market by selling because you think that's the high or buying because you think that's the low. Like I always say, everyday is a buying opportunity for crypto. You can buy every month as a form of dollar cost averaging. Like they say 'time in the market beats timing the market.' Sorry for the long reply.

davien:
It's nice seeing all these speculation, really takes me back to when i was more or less doing the same.

I come here to watch the roller-coaster of emotions between panic and euphoria.

Is Binance still to blame?