I have observed that some people thinks that every cryptocurrency is Bitcoin

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Quote from: Odohu on June 15, 2024, 04:38:51 PM

Quote from: Ever-young on June 15, 2024, 04:24:21 PM

Quote from: Tungbulu on June 09, 2024, 12:35:14 AM

True, but then again, experience they say is the best teacher, and I strongly believe this phrase is directly concerned with cryptocurrency, sometimes it's best to let some folks make their mistakes and then learn from them because some persons are so stubborn and no matter how hard you try to warn them or educate them about the possible dangers entailed in the decisions they plan to make, they'd still decide on pushing through with their decision, at this point, the best thing is to let them make their own mistakes and experience the pain of losses, because at some point in every investors' journey, he/she must have made certain mistakes and learned the hard way, which could also have its own advantages too.

That's right and that is why it's advisable to always have the basic knowledge and understanding about crypto, nothing on to invest or trade but a knowing the type of coin we would want to invest into.

The emphasis is onbasic knowledge which include what cryptocurrency is and the different types, knowing how and where to buy, knowing about wallet and the basic security, and any other minor knowledge needed to make it easy and without mistakes. Many people confuse basic knowledge with advanced knowledge of cryptocurrency. All that is needed to start investing in cryptocurrency is the basic knowledge, the other advanced knowledge can be acquired while already building the cryptocurrency portfolio. Least I forget, the basic knowledge will be able to make the investor know the difference between Bitcoin and the other cryptocurrency and never to mistake the two of them.

Rightly said.
The most important and primary objective of a crypto enthusiast hoping to start an investment would be to the acquisition of cryptocurrency basic knowledge and as you've rightly stated, there'll be opportunities to acquire advanced knowledge as they advance further.

But then again, when/if an enthusiast moves further to acquire advanced knowledge of Crypto before deciding to venture or begin building his portfolio, he then gets an edge and added advantage over the investor who begins with just a basic knowledge, he then has the advantage of avoiding some minor mistakes that newbies ordinarily falls into in the course of learning.

I'm not saying they won't bump into mistakes or that those mistakes are bad, no, most of these mistakes often create the best learning environment for the newbies and whatever experience or knowledge they receive from such mistakes would carry them through their bitcoin journey.

But there are some mistakes that, while newbies learn from them and use those experiences in the future, those mistakes could cause them major setbacks that'll take them time to be able to recover from the impact, and some don't even recover at all, but by first acquiring both basic and advanced knowledge of bitcoin and cryptocurrency at large, some of these mistakes could be avoided.

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Quote from: Gozie51 on June 09, 2024, 09:14:25 AM

How exactly wey we fit take do that kind of sensitization? Them say who no go no see, and who know no, know no. No be person dey tell old person to comot for sun and if pikin put hand for fire and e burn am, the pikin no go put hand again. Na ignorance they worry many people and dem no even dey ready to learn and go through the process but dem just dey interested on how much you have been making in the investment and you go see dem talking about how much profit dey with make if dem invest in you. That's is why dem say failure na bastard as e no get papa and mama and no followership.

I totally understand what you mean but you should know that not every ignorant people are like that, some people only need someone that's knowledgeable to put them through for them to understand better, so when you come across those that are ignorant and claim they know it all, the best thing is to avoid them after you've tried severally to teach them and they refuse to learn. I bet such people would either run back to you or probably learn from their mistakes when they finally figure out they're on the wrong track. Constant sensitization should be ongoing for the wide spread of knowledge about Cryptocurrency in our country, a lot of people are far from being knowledgeable about it and could easily be scammed by bad actors online, their victims could be anyone, your mother, brother, sister or other close relatives. Also if most of our politicians at the senate level were sensitised about it then they won't be against the growth of Cryptocurrency by placing bans and forcing CBN to track bank accounts of Cyptro holders cause they'll be aware that Cryptocurrency has a role to play in building our economy.

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Quote from: Ever-young on June 15, 2024, 04:24:21 PM

Quote from: Tungbulu on June 09, 2024, 12:35:14 AM

True, but then again, experience they say is the best teacher, and I strongly believe this phrase is directly concerned with cryptocurrency, sometimes it's best to let some folks make their mistakes and then learn from them because some persons are so stubborn and no matter how hard you try to warn them or educate them about the possible dangers entailed in the decisions they plan to make, they'd still decide on pushing through with their decision, at this point, the best thing is to let them make their own mistakes and experience the pain of losses, because at some point in every investors' journey, he/she must have made certain mistakes and learned the hard way, which could also have its own advantages too.

That's right and that is why it's advisable to always have the basic knowledge and understanding about crypto, nothing on to invest or trade but a knowing the type of coin we would want to invest into.

The emphasis is on basic knowledge which include what cryptocurrency is and the different types, knowing how and where to buy, knowing about wallet and the basic security, and any other minor knowledge needed to make it easy and without mistakes. Many people confuse basic knowledge with advanced knowledge of cryptocurrency. All that is needed to start investing in cryptocurrency is the basic knowledge, the other advanced knowledge can be acquired while already building the cryptocurrency portfolio. Least I forget, the basic knowledge will be able to make the investor know the difference between Bitcoin and the other cryptocurrency and never to mistake the two of them.

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Quote from: Tungbulu on June 09, 2024, 12:35:14 AM

Quote from: Bournesparks link=topic=5499285.msg64189757#msg64189757

That's why the termed DYOR was coined. And we need to do more to sensitize these individuals also..

True, but then again, experience they say is the best teacher, and I strongly believe this phrase is directly concerned with cryptocurrency, sometimes it's best to let some folks make their mistakes and then learn from them because some persons are so stubborn and no matter how hard you try to warn them or educate them about the possible dangers entailed in the decisions they plan to make, they'd still decide on pushing through with their decision, at this point, the best thing is to let them make their own mistakes and experience the pain of losses, because at some point in every investors' journey, he/she must have made certain mistakes and learned the hard way, which could also have its own advantages too.

That's right and that is why it's advisable to always have the basic knowledge and understanding about crypto, nothing on to invest or trade but a knowing the type of coin we would want to invest into.

Also you are right about some people learning the hard way in order for them to really understand and know of they can go forward or not because some people don't really know what they really want in life and when you try to help in one way or the other, they refused. So instead of disturbing ourselves to convince them, let's allow them to face the implication.

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Quote from: Doan9269 on June 10, 2024, 01:25:39 PM

Cryptocurrency is where it is today all because of bitcoin and this is the only major reason why everyone is getting interested in this digital era because they want to also benefit from what bitcoin has for the current generations, if it were to be left on what other altcoins in crypto appears to give, many would have given up and thought about crypto being a scam or ponzi scheme, if not for bitcoin.

Every day, more people are investing in cryptocurrency because they feel they will benefit from it since they see others doing so and want to try their luck as well. With the economy, anyone with even a modest amount of money would try to invest and double it because times are tough. Even many people who claim that every online platform is a scam are the ones encouraging people to join and gain from it. Anyone who is still claiming that bitcoin is a hoax will never succeed on his crypto trip, or let me say, he will never achieve anything in internet. bitcoin is the best crypto ever that you will invest in it and be profitable when you leave it for a long term.

Investing in shitcoins may result in profits, but they will never reach the value of bitcoin. If you are new to investing, I recommend focusing on bitcoin to avoid losses. Patience is key. All these shitcoins that they will be raising dippy at some point, and individuals who are engaged in them will probably ptofit on the other coins that you invest but is all about risk, but if you are new to cryptocurrency I like guiding someone to just invest on bitcoin because you won't too lose and when you are patient definitely you won't lose because you wil leave it for a long term and when the profits come you will sell the coin.

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Bitcoin has subdue the crypto market, so it's out out of place if people call every crypto coin Bitcoin, all coin depend on Bitcoin in one way or the other, just like Indomie, all other noodles in Nigeria are referred as indomie, if you like brand the name well, Nigerians will still call it indomie, that's what Bitcoin is to other coins. As the very first coin, the name is used to the people, its popular and a dominant coin.

That's what differentiate us tha are into crypto trading than a layman, we can differentiate all the coin in the market.

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Cryptocurrency is where it is today all because of bitcoin and this is the only major reason why everyone is getting interested in this digital era because they want to also benefit from what bitcoin has for the current generations, if it were to be left on what other altcoins in crypto appears to give, many would have given up and thought about crypto being a scam or ponzi scheme, if not for bitcoin.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin. I have seen people who alternates the names Bitcoin and crypto when they are referring to a crypto project, I heard a lady complaining to another lady that her husband used part of the money that they were saving for their son that wants to enter university on Bitcoin business, now they said that the invested money is worthless. I knew within me that the husband had invested in a shitcoin, but she was calling it Bitcoin business. Also this new telegram tapping that is trending in Nigeria, now, after the Notcoin, success, I have also heard some people asking others if they have not heard about the new Bitcoin tapping, some thinks that the alternative or general names for the tokens that they are tapping is called Bitcoin.

People's are having much interest on Bitcoin since it has been becoming a popularity to the world wide, base on how many peoples developed from the Bitcoin after making an huge investment. But not all people's know defference between shitcoin, and altcoin they always clarified then in together they unaware that they the Bitcoin is far more better than altcoin, because the Bitcoin is existing since people's never know that there going list the altcoins. Notcoin has came many peoples attention to the telegram even though that they didn't know anything about the telegram before have now joined just because of the tapping trading that's going on in Nigeria

Quote

If most of these people that doesn't have crypto knowledge gets involved in a scam project, they will say that they got scammed in Bitcoin business. With the rate at which people are joining telegram now to tap on tapswap and the rest, so that they can get rewards like people that got airdrop rewards from Notcoin and Ice. Scammers will also be creating scam projects to defraud the inexperienced miners. When it happens the majority of them that doesn't know the difference between Bitcoin and altcoins will say they got scammed in Bitcoin. We need to sensitize the people that are close to use that we have different types of cryptocurrency, that only one of them is Bitcoin.

Most of the people's failed to have much knowledge about the cryptocurrencies and that's why they where very simple to get scams in terms of trading in the cryptocurrency till after they got scammed they're will later relax that having a knowledge about what you don't know about is very important. However, for the mining that many of users busy going through all this while some people's take it as a scam, but me I didn't called it a scam but one thing about the Nigeria guys is that once they see something that is popular they look for a way to create there content so that they can able to scam people's.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin. I have seen people who alternates the names Bitcoin and crypto when they are referring to a crypto project, I heard a lady complaining to another lady that her husband used part of the money that they were saving for their son that wants to enter university on Bitcoin business, now they said that the invested money is worthless. I knew within me that the husband had invested in a shitcoin, but she was calling it Bitcoin business. Also this new telegram tapping that is trending in Nigeria, now, after the Notcoin, success, I have also heard some people asking others if they have not heard about the new Bitcoin tapping, some thinks that the alternative or general names for the tokens that they are tapping is called Bitcoin.

The reason why people always sees or misconcept altcoins to be Bitcoin is actually because Bitcoin is not just the most popular but also the first cryptocurrency and do to most people lack of knowledge about Bitcoin they tend to believe that anything that has to do with cryptocurrency is regarded as Bitcoin and the negative part is that because of how good and potential Bitcoin is people has been venturing into wrong investment thinking that they are actually investing on Bitcoin and funny enough if they get scammed they put all the blame on Bitcoin because I realized that most of the bad talk about Bitcoin from most people is as a result of getting themselves into wrong investment.

However is quite unfortunate that people always want the easier way or the short cut of making money because the rate at which people are trooping into tapping and Airdrop nowadays is alarming and many of them are getting scam everyday, however the moment they realized that Nutcoin was successful and most people collected some money from it so everybody decided to venture into it thinking that it will always be the same.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

We need to sensitize the people that are close to use that we have different types of cryptocurrency, that only one of them is Bitcoin.

Because of the misinterpretation wey people get towards bitcoin, na reason wey go make us to educate people more on crypto, sae, no be all named altcoin is regarded as bitcoin. Em get big difference from bitcoin and altcoins. In other words, bitcoin get em own entity and infrastructure from that of altcoins. same as saying, every altcoin utility is differ from the other, that doesn't make them to be the same even though they are under the same umbrella called crypto.

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U can only experience such thing from newbies op, because dey are still lacking in d area of cryptocurrency knowledge and if dey have d knowledge of cryptocurrency, dey will not invest in altcoins and start telling people that dey have invested in BTC.

BTC is d king among other cryptocurrencies, and whenever d price of BTC is pumping in d market other cryptocurrencies price will be pumping too, and many people prefer to invest in BTC than altcoins because d profit u will make from BTC business when d bull season is on, it will be higher than altcoin profit.

Since I discovered that BTC is d best coin to invest, I always use bear run to buy BTC and hodl for long period of years before I can sell, which is another way of making huge amount of money from BTC business.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

We need to sensitize the people that are close to use that we have different types of cryptocurrency, that only one of them is Bitcoin.

How exactly wey we fit take do that kind of sensitization? Them say who no go no see, and who know no, know no. No be person dey tell old person to comot for sun and if pikin put hand for fire and e burn am, the pikin no go put hand again. However, bitcoin investment no be wetin dem dey rush. Some people are just naive that they can't do research on their own at least small so that you go get knowledge on top the thing wey de person dey even put you through, so you can flow along. Na ignorance they worry many people and dem no even dey ready to learn and go through the process but dem just dey interested on how much you have been making in the investment and you go see dem talking about how much profit dey with make if dem invest in you. That's is why dem say failure na bastard as e no get papa and mama and no followership.

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Quote from: Barikui1 on June 09, 2024, 01:04:46 AM

Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin.

Point of correction brother, people in Nigeria our country are not misinformed, is either they are not interested, or they sees it as scam, people are very much aware of what's going on within them, just that some people will still choose to abstain, because I don't think Nigerian is that dumb anymore to call alt coin Bitcoin business, what am aware that is going on in most part of the country is that, their are some set of people that sees anything that is being done online as scam, base on one or two terrible experience they have heard or encounter in the past.

so as long as Nigeria my country is concerned, that is what am very much certain that is going on, but saying that most Nigerian calling alt coin Bitcoin business, I totally disagree, because we are not that dumb, we are way more intelligent than that.

Please read my post very well, I never mentioned that most Nigerians are calling altcoins, Bitcoin, I was referring to some Nigerians, who don't have crypto knowledge and are making the mistake, and it is based on my observation. It might surprise you to know that most Nigerians have heard the word "Bitcoin" but they don't know exactly what it is used for, especially the older folks, an experienced bitcoiner will have to explain to them that it's a decentralized digital cash and an asset that is a store of value that people can invest in on a long term. Perhaps many people are aware that Bitcoin is different from altcoins in your area, but in general, there are people who still don't know that Bitcoin is not altcoins, it was last year that I knew that Bitcoin, is not a part of altcoins. I believe that in the near future almost everybody in Nigeria, will know the difference between Bitcoin and alternative cryptocurrency, but as of today, some people still makes the mistake of thinking that every cryptocurrency is Bitcoin.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin. I have seen people who alternates the names Bitcoin and crypto when they are referring to a crypto project, I heard a lady complaining to another lady that her husband used part of the money that they were saving for their son that wants to enter university on Bitcoin business, now they said that the invested money is worthless. I knew within me that the husband had invested in a shitcoin, but she was calling it Bitcoin business.

Don't be affordable to bet to it that the womans husband didn't invest the money on bitcoin, bear it in mind that bitcoin is a volatile digital currency and in as much isn't a stable coin but also a volatile asset, it has its potentials of rise and fall but one thing is certain that it can't fall to zero like the AltCoins does.
From the onset it has always been advised to Invest not with an emergency fund neither to invest with what's not affordable while investing on bitcoin so on a Contrary, the husband fucked up because he knew he was going to need the money anytime soon for their sons school needs.
However, I don't know when this incident occurred but if truly he invested it on bitcoin and keep holding of course even the aggrieved wife will be a testimony to it that indeed bitcoin is a valuable digital asset to Invest on. It's just matter of time my dear.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin. I have seen people who alternates the names Bitcoin and crypto when they are referring to a crypto project, I heard a lady complaining to another lady that her husband used part of the money that they were saving for their son that wants to enter university on Bitcoin business, now they said that the invested money is worthless. I knew within me that the husband had invested in a shitcoin, but she was calling it Bitcoin business. Also this new telegram tapping that is trending in Nigeria, now, after the Notcoin, success, I have also heard some people asking others if they have not heard about the new Bitcoin tapping, some thinks that the alternative or general names for the tokens that they are tapping is called Bitcoin.

If most of these people that doesn't have crypto knowledge gets involved in a scam project, they will say that they got scammed in Bitcoin business. With the rate at which people are joining telegram now to tap on tapswap and the rest, so that they can get rewards like people that got airdrop rewards from Notcoin and Ice. Scammers will also be creating scam projects to defraud the inexperienced miners. When it happens the majority of them that doesn't know the difference between Bitcoin and altcoins will say they got scammed in Bitcoin. We need to sensitize the people that are close to use that we have different types of cryptocurrency, that only one of them is Bitcoin.

Point of correction brother, people in Nigeria our country are not misinformed, is either they are not interested, or they sees it as scam, people are very much aware of what's going on within them, just that some people will still choose to abstain, because I don't think Nigerian is that dumb anymore to call alt coin Bitcoin business, what am aware that is going on in most part of the country is that, their are some set of people that sees anything that is being done online as scam, base on one or two terrible experience they have heard or encounter in the past.

so as long as Nigeria my country is concerned, that is what am very much certain that is going on, but saying that most Nigerian calling alt coin Bitcoin business, I totally disagree, because we are not that dumb, we are way more intelligent than that.

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Quote from: Bournesparks link=topic=5499285.msg64189757#msg64189757

That's why the termed DYOR was coined. And we need to do more to sensitize these individuals also..

True, but then again, experience they say is the best teacher, and I strongly believe this phrase is directly concerned with cryptocurrency, sometimes it's best to let some folks make their mistakes and then learn from them because some persons are so stubborn and no matter how hard you try to warn them or educate them about the possible dangers entailed in the decisions they plan to make, they'd still decide on pushing through with their decision, at this point, the best thing is to let them make their own mistakes and experience the pain of losses, because at some point in every investors' journey, he/she must have made certain mistakes and learned the hard way, which could also have its own advantages too.

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Quote from: Ever-young on June 08, 2024, 04:10:24 PM

Quote from: Kliss on June 08, 2024, 09:55:20 AM

Many individuals who lack proper knowledge about Bitcoin often confuse it with other Altcoins or "shitcoins" just because they are all cryptocurrencies, mistakenly think that every cryptocurrency is Bitcoin However, they don't realize that Bitcoin belongs to a different class altogether compared to other coins or cryptocurrencies, Bitcoin is the most well known cryptocurrency. It's essential for people to understand the distinction between Bitcoin and other cryptocurrencies to prevent misunderstandings. It's unfortunate that some individuals fall victim to scam projects mistakenly attributing their losses to Bitcoin investments. The current trend of telegram tapping in Nigeria has also raised concerns with some projects potentially being scams targeting inexperienced investors. It's necessary for people to differentiate between various cryptocurrencies and be cautious of potential scams in the crypto space.

You are absolutely right, many people actually thinks that Bitcoin is also know as cryptocurrency, that is they all think Bitcoin is only crypto that is existing, and this has made many people thinks anything that has to do with crypto is the way to save up Bitcoin bit by bit.

They believe if they are into airdrops or shitcoin, so that they can earn a Bitcoin and this has made them to fall a victim in the hands of scammers and they see it as the easiest and affordable way to earn a Bitcoin. So it's advisable to always be sure of any airdrops or shitcoin before going into it.

That's why the termed DYOR was coined. And we need to do more to sensitize these individuals also..

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Quote from: Kliss on June 08, 2024, 09:55:20 AM

Many individuals who lack proper knowledge about Bitcoin often confuse it with other Altcoins or "shitcoins" just because they are all cryptocurrencies, mistakenly think that every cryptocurrency is Bitcoin However, they don't realize that Bitcoin belongs to a different class altogether compared to other coins or cryptocurrencies, Bitcoin is the most well known cryptocurrency. It's essential for people to understand the distinction between Bitcoin and other cryptocurrencies to prevent misunderstandings. It's unfortunate that some individuals fall victim to scam projects mistakenly attributing their losses to Bitcoin investments. The current trend of telegram tapping in Nigeria has also raised concerns with some projects potentially being scams targeting inexperienced investors. It's necessary for people to differentiate between various cryptocurrencies and be cautious of potential scams in the crypto space.

You are absolutely right, many people actually thinks that Bitcoin is also know as cryptocurrency, that is they all think Bitcoin is only crypto that is existing, and this has made many people thinks anything that has to do with crypto is the way to save up Bitcoin bit by bit.

They believe if they are into airdrops or shitcoin, so that they can earn a Bitcoin and this has made them to fall a victim in the hands of scammers and they see it as the easiest and affordable way to earn a Bitcoin. So it's advisable to always be sure of any airdrops or shitcoin before going into it.

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You have really point out a very important topic and issue being faced by many Nigerians that are getting into cryptocurrency recently as a result of the telegram tap bot introduced for airdropped cryptocurrency projects. Just after the introduction of this tapping bots on telegram, I have heard of many people getting scammed by others who claim to help them to open telegram and introduce them to the tapping, and in return they tell them that those coins will worth some amount when they launch it, so they should keep tapping to earn more. Before opening the telegram and given them link to join, they will collect some certain amount of money from them and give them hope that they’ll earn more of what they’re paying to get introduced to the tap bot mining on telegram.

Scammers like this will still find a way to cook new stores for their victims when they don’t get as expected or not even receive any penny from it. Sensitization is good, but how many people are ready to listen and not just after what they promise them to get at the end of the day? Is there any or few of them? Knowledge is important and if they know, they should seek for it because scammers will always find ways to scam their victims of their hard earned money.

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Quote from: Ishicryptic on June 08, 2024, 09:01:56 AM

Bitcoin is the most popular cryptocurrency and this has made some people who don't have crypto knowledge to see altcoins as Bitcoin. I have seen people who alternates the names Bitcoin and crypto when they are referring to a crypto project, I heard a lady complaining to another lady that her husband used part of the money that they were saving for their son that wants to enter university on Bitcoin business, now they said that the invested money is worthless. I knew within me that the husband had invested in a shitcoin, but she was calling it Bitcoin business. Also this new telegram tapping that is trending in Nigeria, now, after the Notcoin, success, I have also heard some people asking others if they have not heard about the new Bitcoin tapping, some thinks that the alternative or general names for the tokens that they are tapping is called Bitcoin.

If most of these people that doesn't have crypto knowledge gets involved in a scam project, they will say that they got scammed in Bitcoin business. With the rate at which people are joining telegram now to tap on tapswap and the rest, so that they can get rewards like people that got airdrop rewards from Notcoin and Ice. Scammers will also be creating scam projects to defraud the inexperienced miners. When it happens the majority of them that doesn't know the difference between Bitcoin and altcoins will say they got scammed in Bitcoin. We need to sensitize the people that are close to use that we have different types of cryptocurrency, that only one of them is Bitcoin.

Op, I know that perception are different but your observation is just centered on crypto novice, they are they set of people that think exactly this way, lets get the record straight a bitcoiner knows that altcoin do exist as such he woudnt be categorizing bitcoin as every other cryptocurrency, this is why it is very important for an intending investor to have basic knowledge of his preferred investment before investing, atleast bitcoin has its own logo, a newbie should take cognizance of this, there know is know other cryptocurrency that share the same logo with bitcoin, the value also should stand as an exception too, although many developers are out their to dupe unsuspecting peope with their numerous scam projects but a careful novice wouldnt fall victim to any of such cheap antics.

Topic: I have observed that some people thinks that every cryptocurrency is Bitcoin (Read 228 times)