₦airaland Forum

Impressive

myspace:
Here is a quick review of Starlink Nigeria after using service for one whole week.

Happy Viewing.


https://www.youtube.com/watch?v=s7Ml7StKr_E

The speed is quite impressive. However you do not need more than 3Mbp for streaming a HD content without buffering. I use FibreOne and for the past 2 months the service has been impressive. Monthly fee is about 12k and one off set up is about 45k.

Life

You might not understand the saying "during a gold rush, sell shovels".Early bitcoin mining would be (almost literally) the "gold rush" in this metaphor, so early mining would be just the first people to get to the valley. They got their gold while there was no competition for it and it was easy/plentiful.

So yes, they got rich, but it's hard to predict these events. Even though most bitcoin miners like to claim they knew that bitcoin would be worth $20K a piece, this is not true. Bitcoin was being traded and used back then for fractions of a penny. This was a hobby that unexpectedly turned into something profitable a decade later.
These gold rushes are once-in-a-lifetime opportunities that are hard to reproduce. By the time word gets out that these are great opportunities, bunches of people jump on it and the value is immediately diminished by over-competition.

So the saying "during a gold rush, sell shovels" is a metaphor that suggests that when you recognize a gold rush is happening, don't try to be the 1,000,001st person to mine for gold, because you will probably fail. Instead sell something that all the millions of gold miners need, like shovels and get rich from selling prospectors shovels.
You can strategize around this and plan for it, instead of testing your luck hoping to strike gold. Now you make money off all the other people that are jumping on the bandwagon for the gold rush, instead of competiting for limited resources for them.

Someone who sells shovels during a gold rush will make far more money than someone who goes out and mines for gold. There might be a few early people that got lucky by getting in early, but if you aren't getting in early, then selling shovels is a great way to take advantage of the excitement without the risk of mining for gold yourself.
So, in your example of bitcoin mining, the bitcoin miners themself were just like the miners in the gold rush. The people selling shovels were NVIDIA, AMD, and all the upstarts that sold bitcoin mining ASICs to mine with. These are literally the "shovels" of the bitcoin gold rush. These companies all got rich by selling everyone the equipment to go out and mine. Most of those people bought the cards and computers from these people and never made a return on their investment. So it is better to be selling shovels than mining for gold. Because everyone comes to you with the idea that they will get rich, you get your money early, and they might never even make that much money back in return.

This happened in the real life gold rush, and we saw it happen with bitcoin mining as well. Another example is the startup rush that has been happening, and companies like AWS and Microsoft Azure have profited by selling them compute resources to run their startup. 95% of those startups fail, but Amazon and Microsoft got their paycheck every month from these companies by selling them the resources needed to fulfill their failed dream.

Make of this story whatever you will...

Its a new year loading!

nice one

oh no...

Serious?

Neither of them is the problem. The problem is their being together. Fix that!

tipsy242:
Any reliable solar inverter installer around Ebute Metta axis shd pls signify...

Is Surulere close enough?

.

xeratek:
As the best web developer in Nigeria due to my constant effort to help the less privileged and eradicate poverty, I have decided to revive the young man's music career

Wema Bank wants to see you in their office probably for money laundering concerns.

Damaged generation.

virginprincess:
I can't get married to a nairalander, you guys are too brainwashed for my liking.

You have started!

Whereas we would be thinking God is not hearing prayers but see you na...

Stormtrooper11:
An Igbo Nigerian wedding expenses list, was posted online on Twitter. It was trailed with different comments from different people. While some saw it as an appropriate list, others saw it as unnecessarily expensive.

What are your opinions Nairalanders?

1st Pic: The actual marriage, Bride price list
2nd & 3rd Pics: File photos for illustrations

"Neckless" 120k?

Where you give money and still pay for the table to count the money.

Shameless opportunist...#sad

odimbannamdi:
How do I reach you for the inverter? I may be interested.

Kindly dm me. I have also done same to you just in case you see this later.

toxicbrain:
Location?

Lagos.

KNIGHTBlaed:
How much? With batteries?

inverter 55k 12months warranty
Tubular battery 220Ah 125k (18months warranty

Free delivery for a limited time anywhere in Lagos...

agbonda:
Can you send pics of the home theater and dinning set?

Do you have inverter system for sale?

I have a 1.2kva inverter for sale if interested.

good afternoon

Good morning

good morning and thanks to all the prospective buyers... car sale is going off the market hopefully before noon.

Early morning engine steaming!

more

Buy and drive your Toyota rav4 '02

sound engine

sound Ac

excellent interior

Location is Lagos mainland.

Price is N1.25m

this car is good to go...

Owner needs cash to meet urgent need.

call now