THE QUICK MONEY DITCH

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I consider myself a Crypto 'inquisitor', rather than an enthusiast. I am inquisitive and constantly, I find myself in a blur when I pile my head up with information without basic knowledge. This is a constant in the learning process that has lead me to a constant quest for knowledge because I always feel I don't know very much.

My way, I believe, is slow and unprofitable for a very long white, but it is not unwise.

I'm the kind of person who checks the temperature of the pool with each of my toes before stepping in, one inch of my body at a time. I don't dive, I'm too careful for that. And even though I know I won't drown, I have never gotten to the deep end. Safety first.

My way is slow, unprofitable for a long while, but not unwise.

The READY-SET-GET FUCKED soon to happen
Over the past couple of days, a number of Nigerians cashed out on their Bitcoin investments from years ago. Some invested in 2013, and others in 2015 and the likes. When there's a 'bear run', right? I'm getting a hang on the lingua of the crypto world, please bare with me.

Bitcoin hit its all-time high of $40k and the Nigerians who took the initiative to buy years ago and close their eyes while their investments went through the ups and downs of the market got a massive return on their investment. And, the Nigerians who didn't were watching, feeling silly.

The Nigerian MMM crown, you just gotta love them.

Now, everyone with a smartphone has a brief idea of the cryptocurrency possibilities and wants a piece of the cake. But are they really ready for this?

Nigerian MMM crowd are the lowly sort who lookout for the next 30 days 30% increase in their 'investment' of a lowly 5k. Are they ready for this deep long-term investment in the world of massive uncertainties?

My take? NOPE!
Hearts will get broken, and hearts will get broken really soon.

The sight of people getting their money back is exciting to the uneducated masses, and now everyone wants to own a piece of this future rewarding piece of cake. But Nigerians are hardly that sort, you know.

I'm a very prudent spender, and even I have my moments of 'Nigerianness'.

My ripply RIPPLE experience
After the 'bull run' (I hope I got that right) on XRP, I got some pretty exciting free money and it felt nice. I got the cashout and invested in another currency, coz why not?

Then, I noticed the price of the lovely XRP kept fluctuating over the course of 1 week, I think. So, I thought to myself 'why don't I monitor this market thingy for 1 week and do a little practice with a little money'.

SOOO, I watched the price get pretty low, I think it dropped to about 150 naira, which was the lowest I had seen it drop to over that period and I said to myself 'buy this shit'. I did.

The next day, I think, the price dropped, and it dropped some more, and it dropped a little more. My investment was a mere 1k naira so I didn't exactly feel it when I was losing the money, but you know, I was doing a little practical. AND I WAS LOSING MONEY!

I said to myself 'if this shit even gets back to the price I got it, I'm selling and getting my money back'.

I got my money out. Not because I needed it perse, but just coz I wanted to feel how it felt to get in and get out.

I TEST WATERS, REMEMBER!

The Nigerianness factor

A lot of my people are just like me. Not in the aspect of testing waters, nooo. If they did that, they would have fewer losses. They don't test waters, they go ALL IN!

Right now, there's a young man staking his house rent that's due in February to watch it double in Bitcoin so he can pay his rent and buy a car.

We love the idea of quick money and are barely able to face the consequence of our actions.

The next thing you'll hear from the Nigerian uninformed crowd, after a whole lot of losses is 'Bitcoin na scam'. No dear, you're the scam.

I've been devoting a couple of hours to my 'cryptoducation' lately, I still have a lot to learn, so I try as much as possible to avail myself of information as it comes.

I'm open to links, profiles, and whatever information that will be able to teach me the need-to-knows of the crypto world, while I do my little research.

PLEASE NOTE: I DON'T THINK I DROPPED ANY FINANCIAL ADVICE HERE, BUT IF FOR ANY REASON AN INFORMATION IS FALSE, OR CONSIDERED FINANCIAL ADVICE WORTHY, PROCEED AT YOUR OWN PERIL COZ I DON'T KNOW SHIT.

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3 comments
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'if this shit even gets back to the price I got it, I'm selling and getting my money back'.

I wouldn't do that. Most of the times when it gets back it actually goes even higher. If you're fine losing with what you invested let it grow. 8-9 months from now you'll be amazed on how much it will be worth. If it's going to replicate the performance of 2017-2018 bull market then we're up for great profits.

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Lol never invest more than youre willing ti risk, I think its a slogan every newbie should know upon entry

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Bitcoin not MMM
I love the fact that people are warming up to crypto, bitcoin to be precise but you can't help but fear for this lots. They think it's some pyramid scheme. They don't even understand the technology or it's ethos. Nothing

The next thing you'll hear from the Nigerian uninformed crowd, after a whole lot of losses is 'Bitcoin na scam'. No dear, you're the scam.

🤡

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