NewStats: 3,265,164 , 8,185,846 topics. Date: Friday, 13 June 2025 at 05:19 PM 1s42f

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 unable 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 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 port 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 hips. All their gains are made from selling hips 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 ability 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 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 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?

Raylight2:
I thought crypto is prohibited on NL. Why make front-page?

Seun

Bandwagon mentality. I back in 2014 when I would open threads to teach people about the potential of bitcoin only for some to delete them. At that time, very few people knew about crypto in Nigeria or anywhere in the world even. A lot of people could've also bought when it was $200 or less. Notwithstanding, this is still a change in the right direction. I can't fault them too much as even many world renowned Noble Prize winners in economics also denounced bitcoin. Famous billionaires, financial analysts and bank CEOs called it a ponzi scheme or fraud. I guess Nairaland felt they were protecting the masses. It's all good, we are still heading up and If you have a long term horizon, everyday is a buying opportunity for bitcoin.

A welcomed development. I will never currency manipulation. We are all Nigerians afterall and our common goal is to see naira gain some strength. Still bullish on bitcoin. None of this will stop us from going to the moon.

ogawisdom:
Government has declared war on binance. tears loading in the coming days.

Here we go again. Governments never learn. Please only use exchanges to buy and sell your coins. Convert your holdings to a cold wallet where you have total control of your coins. This too shall .

Terrible. I hate to say it, but it will only get worse.

1-1 now this is the type of game I like. I want to be entertained up until the last minute. We will still win.

Tolu1992:
Seems bitcoin etf have just been approved. To the moooooooon

Today is such a surreal moment. I back in 2013 When I started buying bitcoin. Many people called it Beanie babies while others compared it to the Dutch Tulips mania. Many governments "banned" it and caused multiple crashes. Many crypto exchanges stole customers funds, all the hacks, constant attacks from reputable investors like Warren Buffet, Jamie Damon etc.
To see Wall Street heavy weights like Fidelity, Blackrock, Inversco, ARK etc offering Bitcoin ETF trading just brings everything full circle. We got the last laugh. I'M just happy to be on this journey to the moon!

doyin01:


Would have missed out on a 5% profi on my investment if I listened to you......price is what creates chart , not the chart creating price..

😂

Bitcoin:
Day traders make me laugh. Statistics have shown that 90% of day traders lose money. Thinking you can time the top or bottom is pure fantasy. The only proven way to be profitable in crypto is to buy small amounts of BTC and ETH every month and hold for the long run. This recent crash is just one of many throughout bitcoin's nascent history. Once you have the mindset that you intend to hold btc long into your retirement, you wouldn't even care If it dropped to $5, because by buying every month, you are dollar cost averaging and you are accumulating more coins.


The mentality of trying to get rich quick off crypto will be the demise of so many new investors. Real estate gives you maybe 5% annual return, stocks 7%, but people invest in crypto expecting to make 50% overnight because we've had crazy exponential bull runs. They say crypto takes the stairs to climb up and takes the elevator to fall. I see bitcoin as a long term investment I hope to give my kids and grand kids, this longterm horizon has kept me sane for the past 9yrs.

Never forget this.

OgogoroFreak:
I love bitcoin

Oh yeah?

It's only going to get worse. If you haven't already, convert your savings to bitcoin and stop hoping on the government to fix this mess. For almost a decade, I've been advising anyone and everyone I know to ditch all fiat currencies (naira, dollar, etc) and just hold bitcoin. It's not too late to do so.

Geez

I denounce Hamas terrorists, but I thought in a democracy, citizens have a right to freedom of speech and right to protest.

I've been shouting buy and hold bitcoin for almost a decade now as a way to protect yourself from Naira's devaluation.

There's more money in Politics than in football. Congrats to him.