₦airaland Forum

cappyolu:
The only thing that would let that sell off happen is another bad news like China or if for some reason all the bulls slept off and there isn’t support at around 44k then a breakout happens which has been happening lately. With this current ranging from the market since yesterday whales and bears ain’t liquidating, they just take profit. Only a panic or a top player mover would send the market in another down trend now, everyone is tactical now

To me market is in a constant state of flux... As we've seen, panic selling or buying by small players usually serves the interest of the big few.... The China news is not usually bad... it's usually has been a pointer that a big move might be close.... It's left for everyone to guage the market and not be caught offside


The pop thru 45 k similar to the pop at 36k in August. It was due to too many people shorting with stops at that area... Hence price reaching that point caused a liquidation cascade and price surge...

Bitc0in general spends most of it's time ranging and once and once a position is in play, it moves quickly in that direction.....

cappyolu:
I’m catching the bus at the support level, ain’t no risking resistance for a breakout that might or might not happen

Yeah..... A pullback should give good entries...

But then, fact is for this current move, the time to average in was on those red days... The coyn was at support then.... Folks who didn't buy at 40k initially wouldn't buy now even if the coyn reteaces back there. Market sentiment is quite split which isn't a bad thing

People always expect a another selloff on any rally after a first selloff forgetting that such selloffs once completed don't happen everyday- They usually once a month or once in two months.....

Talking about reading charts...

The mistake most make is looking at the low time frames they can't action moreso on bitc0in.... Can't stress this enough... Buying the top mostimes happens when folks are looking at LTF charts..

On bitc0in, I rarely go below the 4hrly chart... I occasionally use the 30min chart during a selloff to early identify possible demand zones.... Asides that, the picture on bitc0in becomes clearer from the daily down and moreso on higher time frames..

I was partly on the wrong end of the April Bitc0ins selloff cos I didn't look at the larger picture... As early as January, 60k was already showing signs of a supply zone...

Looking at the monthly chart of bitc0in, one thing is obvious- the 21 monthly ema... The coin only nukes  below it at the worst of a bear market and that usually provides a good macro buying opportunity.... After this run is topped, when that time comes, I'd hopefully be buying...

Looking at things from a risk/reward point of view was one reason I just kept streamlining my portfolio during  September. Moreso was when I looked at the chart below... The 21 month ema is currently at about 32k...  I reasoned that except this run is over (which doesn't look it) then bitc0in is very unlikely to close a monthly below that level yet... So generally, while it was getting clear a huge move was in the offing... The main question is if bitc0in is going to put in another top or nuke to confirm a prolonged bear market... My bias on this is well stated

From sentiment since this rally, seems a good number capitulated when bitc0in was at 40k and are second-guessing this rally...

Alot of alyts fell below critical support when bitc0in was retesting 40k... If it holds, and ranges, then most could easily hit previous prices in the coming weeks as they have some catching up to do...

Not a reason to ape into a green candle if already not in position, but dips into support could be bought up quicker than expected

Very funny interview... Wike sounds like a sure fighter

nna777:
I don't want to overflog this issue. The people who have been talking about Pi on this thread haven't really done justice. Let me do that.

I read their WP about a year ago. The primary purpose of the coin is to serve as a medium of exchange for goods and services within the Pi Ecosystem not as another crypto project that will be traded on exchanges. Unfortunately, not everyone understands the project but the coins being mined currently will be used to make purchases within the ecosystem that's the reason why the just concluded Pi Hackathon where hundreds of developers developed ecosystem and business apps which the 25+million miners will bootstrap the economy by using their mined coins as a medium of exchange was created. A lot of progress has been and is being made.

Secondly, it has been clearly stated that it is up to the exchanges to list the coin at mainnet. It's not the focus of the Core Team since there wouldn't be any ICO or presale. Those who will decide to trade their coins on exchanges will loose out because that isn't the idea behind the project. It's those that spend within that would profit.

Finally, I started mining about a year ago because of the Hackathon as I am part of a team developing an app that would link buyers n sellers across the agric value chain. So far so good. People from the Netherlands, India, Nigeria and some other African countries are already signing up to be part of the project. Without over 25million active people onboard, I don't see why the project wouldn't be a success.

You sound knowledgeable about it... Like you said most people talking about it are dreamers hoping to blow from it. The other day, someone added me to a WhatsApp group whose aim was to teach people how to make money from crypt0 through mining pi.... I smiled and exited the group.

Even for crypt0 airdrops in the day, one didn't need to put in so much...

They sure have an active base which they've been able to maintain by keeping them dreaming... Do u think people would bother with mining if what they earned was one shib everyday....eventhough shib is worth something now?... It's all market psych..

Lastly, I don't bother myself too much with crypt0 white papers... in 2016- 2017, most newly issued crypt0 were supposed to be bitcoin killers..... I remember some promising how folks could pay their medical bills with it... e.g dentacoin.... Today, they're all dead... Personally, I'm more interested in what the project has to offer, community engagement and the team behind it.... While pi does have an active community (mainly of people hoping), it'd be interesting to see how their actual product pans out.

nsiba:
.

Understand me clearly, they haven't made any money but they are sitting on a goldmine and if you think it is data mining and advertising they are set up for then you are a long thing.

I personally will turn such a platform to something extraordinary not talk of people fortunately to have gotten such a good foundation

10000 BTC was used to buy just 2 pizzas couple of years ago, even the Dogecoin founder sold his shares for peanut and u expect some Stanford dudes to be satisfied with adverts and data mining when they know they can shake the crypto world with the population they have?

Well anybody expecting Pi to go more than a dollar in its first two years can dream as he/ she likes coz this project is a long term thing.

We should be talking of making our own Pi cos for me Seun too can create something out of nothing if he only he sees what I see

The owners are sitting on a gold mine, but it does seem like most interracting are likely the gold being mined.

There are places/games/browsers online where you can earn real crypt0 (such as btc or eth) or money. How come they're not as popular... Simple cos the effort put in isn't usually worth the result. Most in pi are there cos they dream that one day, it'd be worth huge sums... It'd be interesting to see what happens after the mainnet...

Floating a crypt0 currency is easy. You can go ahead and issue yours. A while back, people on this thread had toyed with the idea of floating one, marketing it and hoping that one of the big exchanges list it one day...

nsiba:
No need to remind you, how I wish Seun can sit down and plan out with many of us on this platform how to effectively monetize by TOKEN this forum, we can creaat Cryptos millionaires with our tokens in just a couple of years from now.
Let me tell something, even a fool with million followers in this dynamic technology driven age can create wealth not to talk of a visionary crypto entrepreneurs like the Pi team.
Forget Pi, those guys are already made they fully understand the potential and goldmine they are sitting on. It is time we on this platform start thinking in a different direction I saw the Tonto Dikeh/Agricchain deal and I pray they succeed.
Seun and Nairaland should start thinking deep, he has a good base and platform to make things work

I'm not doubting that the pi team have made money....
My dilemma is what does who are stuck mining coins on their app with the hope that one day they'd blow. The people mininig the coin unknown to them are the product. They are the ones who's data is taken, they're the ones watching the ads that profit the owners...

It still boils down to simple market psych- dreams are better motivators than actual value'... If pi had the value of most of the thousands of worthless crypt0s we have around, no one would be talking about it. It's by making naive folks believe they'd become rich by mining stuff on their phone that they're able to retain their userbase.... I saw someone here estimate how he'd make 300k usd from his when it goes mainnet... lol....

nsiba:
.

I have seen back and forth argument against Pi in different forum and platforms and as the years progresses the argument "for" Pi gets stronger while those "against" gets more and more thinner.
What I have never seen is DATA consumption, I wished I had joined when my cousin was nudging me

Maybe the arguments against it is thinner cos most folks have learned their lesson and moved are are not bothered.
I have never seen anyone with good knowledge on crypt0 who is stuck with pi... It's always new folks who are hoping to get millions from it someday... If there's one thing the last few years have shown, making a crypt0currency is easy- you can even make yours. Getting value is the hard part.

Like it's said, 'dreams are better motivators than actual value'.
My argument from it has always been simple- remind me when 1 million pi is worth actual money.

Mazinewmoney:
[/b]

Jesus is LORD. jedisco I'm finished.... I sub more than 20k every month since I started mining Pi. I mine in three devices. Can you believe that most times I sub 4k Naira in a day...... Chai.... Eye don clear.. Lesson learned... I have been complaining here that Binance sucks my Mb and Gigabyte and no one has ever responded to that. I no say Binance de chop en own MB kwa o but it can't compare. Now I found the cockroach in my cupboard. End of Pi for me. Ain't mining no more. Inukwa. So na Pi de do me this thing

It's interesting that for years, people are still chasing this pi stuff. It shows how naive the general public is regarding crypt0...

Even if it goes mainnet, with millions of people having it on their phone, post-launch, the selloff will be massive... It'd likely almost go to zero... Then, if it's worth something, you can buy. For now, that money you're spending on data to mine pi can be better spent buying coyns like ada, eth...

[quote author=damiloladuke post=106275972][/quote]Odd... Never come across a phone which yakes screenshots that way. That said, I've never used a Tecno too

dayo229:
He might not even own up to that amount on his screenshot.... There are some shitcoins that you buy that will only show the number of coin you have instead of the amount in related to price.....

I remember the time I bought $ASS, my dashboard on TW was showing millions of dollars .... If I showed you the screenshot then you would think I'm a millionaire in dollars

Hehe...It looks like one wallet/exchange that displays 10k usd on your balance when you sign up. Balance that cannot be used for anything of course.
I remember someone soliciting here for people to sign-up under him so they can all get 10k usd bonus...
It was when I asked him if he thinks such money drops from the tree before he regained his sense....

damiloladuke:
It's a what? Because it has a phone design? Make una dey use better phone. My phone does that after your make a screenshot

That's odd... I've not come across a phone that takes screenshots that way...
BTW, this is not an asset bragging contest

All said, there are two things I find odd are

1. Those offering to sell 'million coins' of feg and shib to others... How do they determine the actual market rate, how to they send these coyns across. I see this group as trying to take advantage of naive folks. Isn't it easier to just signpost people on how to safely buy those coins on exchanges.

2. The second group is those still promoting pi coin. We dealt with this issue on the earlier pages of this thread... Fact is, at this stage of the market one shouldn't be 'mining' worthless stuff on your phone aiming for whatever mainet launch. Pi is just a data mine... They make their money by mining your data and advertising stuff to you

damiloladuke:
Check time of the screenshot. The year your entire lineage afford this, Nigerian would have been 500 years old.

I won't reply you again.

Eagles don't mingle with pigs

Hehe...we could tone down with the language...

What you posted is not a screenshot

Ibime:
The KYC regulations although about 2 years from implementation will also affect Uni as they will have to collect customers data. They are already building some features into their platform to that effect

Interesting...
KYC in itself isnt bad and helps with providing a clear regulatory framework so more big players can come into the industry...
That said, by design, some part of crypt0 will always remain anonymous due to blanket regulations in countries like China... Perhaps, it may lead to the rise of truly decentralised means of exchanging tokens

Hmmm... What's happening there is simply genocide... Yet the government turns a blind eye..

The picture below was taken during one of the recent skirmishes that happened in southern Kaduna.... As of when in was taken, all the mortuaries in Kaduna town were filled with dead bodies from the riot. This picture was actually the entrance area of a filled up mortuary. Bodies had to be placed there as the main mortuary space was already filled up and more were being brought in military trucks... The government's version was initially that 3 people died and later, they said 20.

The fact is that the people of southern kaduna have over the years been subjugated. Now, what's facing them is annihilation... No form of begging or dialogue would stop the killers...infact it'd only embolden them. Until, there's a significant pushback against the killers, this may only continue

Uni- was disappointing of late. It didn't show much strength as dot which is unusual... Most times, it follows dot... Likely this was partly due to news of the sec investigation.....

But it's a project I believe in- moreso with all the censorship on crypt0. Uni is the native token of uniswap which is one of the bigger decentralised exchanges....

With Huobi one of China's bigger exchanges restricting Chinese users and others likely to follow, perhaps, that'd bring a boom to decentralised exchanges and their tokens once again. Perhaps, that's what is causing this pump...

Will cut part of my position into betece at 0.6... might buy back lower (around 0.55ish) or just hold in betece as I'm looking to increase my betece position

Mostly, the market picture becomes clearer after a selloff
When caught in a selloff, one good way to recover quickly is trading significant levels between pairs.... This is because coins which were performing well before a selloff tend to pullback more but bounce quicker. Another good reason to have strong alyts

E.g, I swapped a good chunk of my bnb into one, ada, luna and cake too..

Just a gentle reminder on why u should stake your coins while waiting...

Staking rewards over the past 2-3 weeks... Not much but at least could pay for transaction fees.

dayo229:
Too many people are expecting Bitcoin bullrun in the q4 which I fear may not happen.... You always say when majority of people expect BTC to pump it usually does the opposite....

Truth be said, bitc0in usually has a way of leaving the majority offside...especially with its short-term moves.
That's not to say it might not pump in q4... Just that it may do that in a way people don't expect...

The good thing about this market is that sentiment changes quickly and bitcoin can also move quickly... Reconducting that same poll in a week or two might show markedly different results

Market sentiment

I belong to the pump group but what if it does the opposite? Usually, I don't like being part of the overwhelming majority in this market.... Lets see what q4 brings

Shout out to AJ... You'd come back stronger... Keep the flag flying high

OllyArt:
Sell it now and buy the dips again on Tuesday morning

Another deterministic view...

What if he/she sells now and by Tuesday, bitcoin is at 47k?
Such aimless buying and selling is the reason why people blow their account in weeks...

nonut:
Abokifx CEO spotted...

Hmmm.... The exchange rate doesn't bother me as I'm well hedged against it..... What I don't get is folks being deterministic on stuff on which they have no idea where it's going

DieRich5:
dats just my answer.......
ur question it's a 50/50 thing and the money is not for him (I think the money is meant for important thing) he don't wanna trade with it I don't like doin risky things with important money piggy still give % for saving with dem

That's quite different from what you said earlier... Since you know its 50/50, then you shouldn't have said it with certainty.
The exchange rate could be 300 or 800 next year... Frankly speaking, I'm not bothered.

Regarding advise to the op, I didn't respond and wouldn't advise him to buy usdt not because I think the exchange would go down or up but because folks shouldn't invest or speculate with other peoples funds... Worse case, if he was looking for what to invest in, he could go where his returns are almost guaranteed e.g treasury bills

DieRich5:
bro don't buy USDT @570+ is too high, it will drop to 500 next year...........so save it in piggy

What if the reverse is the case?

Happiness09:
The market didn't play out the way I thought it would this week, I agree there will be no rally. I've sold everything.

At what price did you buy and what price did you sell?

Mohzus:
Greater heights , you're a good man . I've been reading this book and was trying to fit it into crypto but I couldn't . Thanks

Could relate in a way to the 2027 bullrun... I've likened that before to the dot-com bubble

Bitc0in dominance chart- a brief explanation is this... It's the percentage of the crypt0 market attributable to bitcoin... General, when it's low, that means alyt coyns have relatively maintained structure and performed better against Bitc0in.... When its high, the reverse is the case... As most things, it swings from low to high and viceversa. It's a good guide to guage where the market is. How this market moves is that mostimes, whalestend to accumulate bitcoin when its not performing well and sell it into alyts after it's been on a rally


Its currently at 40. This means bitc0in market cap is worth 40% abd other coins 60% of the crypt0 market cap.
At 40, bitc0in dominance is at the 2nd lowest it's been in years.... The lowest was 35 which was the lowest..... This makes me believe that by virtue of either a pump or a dump, bitc0in is likely to dominate q4 of this year....
A dip to 35 would give alyts one more chance to rally which should be short-lived