If anyone of you are not sure if you are giving your merits to people who you think they deserve them, just move onto give them to people which is very famous, trust worthy or helpful on developing tools for all of us in the forum.
Merits should be dependent on the post and not the user who made the post. A quality post judged on your subjective standard. Your suggestion would limit newbies from getting merited cause they are new and not yet famous or trustworthy. It has happened to me in the past and I wanted to give a few merits to newbies, only to realize that they had been banned in a few months.
A banned member can have created a very helpful topic while they could post on the forum, being banned does not make the post any less useful than it is. The merits could also guide other readers to what replies in a thread are useful. - Jay - |
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Does everything's safe as legal things? I just worried for suspicious, because all source from mixer.
You are worried that your funds would be rejected by binance or any other centralized exchange cause it has passed through a mixer? This is a valid concern and there has been a crackdown on blurring the trail of a transaction using coinjoining or mixers from governments through centralized exchanges this results in flagged transactions and locked bitcoins for different duration of time. To avoid this you can either utilize decentralized exchanges which connect traders together directly or you can blur the fact that you used a mixer so centralized exchanges cannot pick up the trail. The above reply by Charles-Tim has some advice on that. - Jay - |
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I think the majority of gamblers want to make quick money, that's why they gamble. But investors or the bitcoin sector must be patient to make gains.
Many investors in the bitcoin sector only do it cause they want to make quick gains as well and are not patient, this causes many investors to lose cause they buy too late fearing that it would not rise again and sell too early fearing that they would lose out if they keep holding. This does not mean there exists any similarities between bitcoin and gambling, just that not all bitcoiners are keenly interested in the technology or the possibilities it has. - Jay - |
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Agree with me - forum and exchange are different things)
Forum and coin tracking tools are two different things but neither of them is responsible for vetting possible scams. My example was to show that websites can offer hints that an exchange or mixer is a scam without necessarily taking it down. This does not mean they help scammers, it means you should do your research yourself. - Jay - |
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I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.
There would always be terms you are unfamiliar with since we all are always in a learning curve. It is expected to be unfamiliar with terms in bitcoin, I am a newbie to the technical aspect as well and look for opportunities to learn, step by step. There is no short cut to gaining knowledge, follow the posts and threads of more knowledgeable users and as much as possible, practice what you learn. If you read a about nodes try to run your own node, same with other technical aspects, with time you would get more familiar with them. - Jay - |
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...if this countries can possibly readjust policies to favour bitcoin by mid year, it will experience excess rising.
Do not depend on policies of countries for bitcoin to rise in price, except maybe their poor fiscal policies which lead to inflation in fiat. But the question is; is it possible for bitcoin to reach $60k by this year? No serious bulls happening currently and if it continues in this little increase probably it will not get anywhere close to $60k. Share your views.
It is surely possible for bitcoin to reach $60, this does not guarantee that it would but it can. My predicted peak for this year is somewhere over $40k. - Jay - |
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If you take this isolated incident, it does not show either coingecko or coinmarketcap to be helping scammers anymore than the forum does. Here in the forum scams are unmoderated, it rather has a trust system which serves as guides for users with pointers like trust scores and flags. This is a similar disclaimer to what was put up for Bibox exchange.
This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.
- Jay -
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xrp is very centralized. we need a web of trust cryptocurrency governed by a community.
...
Then we create a discord for example and accept people who prove they are not bots.
The idea just keeps sounding worse the more it is broken down. Bitcoin is a permission-less and trust-less network, losing these two features to prevent a nonexistent threat of fake nodes is taking bitcoin several steps back in terms of decentralization. Running on a centralized platform like discord effectively centralizes the network. You do not need to fix what is not broken. - Jay - |
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Chameleon is a popular name used by malwares and viruses, I could find some which date as far back as 2014 or earlier. This could be a new strain with no relations to previous versions or an updated version of an earlier one to make it spread through unlikely means like attachments in discord or compromised websites. So just be careful downloading Coinspot, if you are using it, be sure you got it from reputable source.
Be careful when downloading any application. Ensure you get it from the official website and verify the PGP signature. - Jay - |
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Is there a situation where we woke up one day and found out all our bitcoins vanished?
- If you lose your seedphrase someone can steal your bitcoins, it does not vanish but gets moved to another wallet,
- If you keep your bitcoins in a centralized wallet, the exchange can limit your access to "their" bitcoins,
- If there is a vulnerability discovered that breaks the security of the network (possibility = 0%),
Blockchain or DLT has a common explanation where it is calculated to solve double spending problem which represent a incomparable transaction that are solve through the computers in the network? Double spending is a way of cancelling transactions that have not gotten sufficient confirmations to be deemed irreversible. The minimum is usually one confirmations, can be 3 or 5 for higher amounts of bitcoins. - Jay - |
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Someone ask me a question after introducing bitcoin to him, if he can start up with $30 and grow with it but I told him bitcoin is wide and high in volume, price and market, that's means whatever you're starting with determine the outcome of the market like for example;
This is a misconception that pushes people to invest in shitcoins which are valued in cents. Bitcoin's price being high does not mean investors with lower purchasing power cannot get some. For a start $30 is not a bad value at all, the person is can use that amount to test out the little technical features, trading, wallets and backups, transactions on-chain... What you are starting with does not determine the outcome if they plan to invest more eventually. if you start with $30 and eventually the market goes up to a little increase of $32 can not be compared with someone who started same time with you, at the rate $100.
Someone who started with $100 can also not be compared with someone who started with $1,000 or $1,000,000. This does not mean those with lower purchasing power should not get into bitcoin. A 100% increase would double their $30 to $60, a better deal than letting inflation gnaw at it if left in fiat. So also when the market is down to some extent, the person with $30 may likely loss more because of the money is small. Blockchain has the minimum amount one can invest if am not mistaken but if your amount is too small may be difficult to make easy progress.
You either gain or loss in percentages. 10% of $100 varies from that of $1,000, they are gaining or losing according to their investment. - Jay - |
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Is server a factor for an exchange to be decentralized? I thought when they don't hold your keys and your Bitcoin, the exchange is consider as been decentralized, anyways, I have learn a new thing.
It is a consideration for an exchange to be truly decentralized. A centralized server means there is a direct point of attack which hackers can target to bring down the network and obtain logs of data. Not holding your keys is a step, but if the exchange is dependent on a centralized server it is centralized to an extent, it would be like bitcoin having a central node station where transactions are verified and not the current system with nodes located all around the globe. Bisq passes for a fully decentralized exchange. - Jay - |
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Cryptocurrency holders cannot technically become insolvent. Insolvency applies to an organization, entity or individual which now has more liabilities than it has assets, and can no longer afford to pay their liabilities owed. Cryptocurrency holders who should have only invested spare money cannot go insolvent. But if you sink you entire worth into cryptocurrency, it is possible to not be able to pay your debts or bills owed if it goes sideways.
A cryptocurrency company can go insolvent like every other company.
A cryptocurrency trader can also if they take out to much leverage and lose the trade.
- Jay -
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Withdrawals from exchanges does not have an effect on the price, it is the exchange when the coin is traded for fiat that does. Investing high capital does not have an automatic effect, it has the possibility of influencing the value but depends on the process of purchase, the amount involved and the influence of the buyer, if known. but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.
No, there are no regulators or tech that regulates the price. Traders have an impact but that is from the exchange between buyer and seller. Sell and buy pressure is also a factor. - Jay - |
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- Miners selling bitcoins on exchanges
- Retail people exchanging bitcoins
- Drug dealers swapping bitcoins versus cash
Two out of the three options available are valid means of building the balance sheet of an exchange in bitcoin and other cryptocurrencies. There are exchanges who are also into bitcoin mining and they get profits from transaction fees and service fees. How can I know if the bitcoin I buy on the exchange is "legit" or "dirty" ? Is it important ?
There are no dirty bitcoins, just those that are reported to have been used for illegal activities. It is difficult to determine what transaction a UTXO has been involved in since it was mined, you can only try to use blockchain data and run that over different searches to know if it turns up for any illegal activity. It could be important further years down the line. Today there are only restrictions by exchanges for mixed coins. - Jay - |
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I think it might actually be more than the seven countries they've listed in the latter part of their FAQ page [refer to the very first part of the same page]:
- Having said that, I'm not sure if it's outdated or not!
It could be a misunderstanding with the language which was used. The list in the Op is about countries that support withdrawal, this could mean that they allow transfers all over the world and one can receive the payment, but only in designated countries can one withdraw to their local currency. For example, someone in Kenya [a listed country} can receive and send to someone in Spain [not listed], but only the person in Kenya can withdraw to their bank account, while the person in Spain cannot. Correct me if my interpretation is wrong. - Jay - |
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So my simple question is this, in your experience, what are the red flags and tell tale signs that the person you are dealing with is a scammer/fraudster.
There are general signs you can look for with scammers, - One of them is that they seek you out. Scams are unsolicited, and the scammers reach out through you through email or social media,
- They tell you what you want to here. This could be by offering a too good to be true deal or rattling you with a notice that you are in danger or your funds are at risk.
- They tell you things that align with your interests which are public knowledge. For example, a known collector on the forum gets a pm about rare items for collection with a small shipping fee.
- Your conversation with the person appears rushed.
All these are not definite signs and scammers adjust their strategy regularly to appear more convincing. Always be on the lookout for scams and think it twice or three times before opening your wallet. How can you tell who to trust,
No one. - Jay - |
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LevelDB is a key value store used for blockchain information, there are others which are used by nodes. But if one man has some UTXOs and has lost his password, then these UTXOs will be in the DB forever? If i have created a new tx with the same txid that this man had, then my transaction won't be added to the blockchain ever?
If a pair of outputs are never spent, due to lost password or some other reason, they would remain on the data base (whichever is used by the different nodes) as they are valid UTXOs, but would remain unspent. You cannot just create another tx with a UTXO that you do not own i.e, have the private keys to the address. The nodes would verify and reject the transaction. This action is uncorrelated to LevelDB or any other blockchain data base. - Jay - |
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If you have waited for 2 to 3 months, you have watched bitcoin moved from the $20k range to $30k right now. This is the major risk when trying to perfectly time your entry, the price can keep going up and you keep putting it off till it becomes unwise to buy, which is the time people fomo in, after months of hesitation.
DCA now if you are having cold feet. If the price does go down, you would still get to buy some at a lower price, if it rises to $40k, you already got some at a lower price.
- Jay -
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