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1641  Bitcoin / Bitcoin Discussion / Re: Will digital dollar be a threat to bitcoin? on: September 20, 2022, 07:49:53 PM
You are asking two questions, one in the title and one in the thread. Addressing the latter first;

Do you think with the level of civilization in the united states, that the digital dollar will be successful?
Yes, it's a possibility. Digital exposure is quite high in the U.S, and having an extra layer on that using the block chain could definitely be successful. It could create a cheaper and faster way to transact using the USD, than what is available today, while giving the government more control of transactions.

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Will digital dollar be a threat to bitcoin?
Is the regular dollar a threat to Bitcoin? It isn't, so a digital version, or more specifically a blockchain version would not be any different.
People use Bitcoin for a couple of reasons;
• As a global currency,
• For privacy,
• For freedom,
• As an asset and/or hedge fund,
• As a speculative asset, etc.
A CBDC would not fill this and attract those users to hold them instead.
1642  Economy / Economics / Re: California sues Amazon, alleging its policies cause higher prices everywhere on: September 20, 2022, 07:30:20 PM
Judging from the fact that Amazon has earlier this year paid $2.25 million to the Washington state attorney general's office after a lawsuit on alledged price manipulation on their site and also discontinuing their "sold by Amazon" program, which was a way where sellers let the platform determine the best price for their products, it's no surprise they are getting another lawsuit now.

Big companies with monopoly like Amazon, Google etc are prone to unsavoury practices to boost profits and also fizzle put competitors.
I've not gone through this entire law suit to know the merits of the case which the state of California is bringing up yet, but with their antecedents, Amazon is likely culpable.
1643  Economy / Economics / Re: Going to war means let's ulter the economic progression on: September 20, 2022, 07:13:41 PM
It is effect more on the world as it increase inflation and reduce the living of the people of the world if the countries have major contribution for the world economy.
You are spot on here, such effects would only be noticable if that country has a global export which other countries depend on. There are lots of wars which go unoticed by the general public, cause it doesn't have any rebound effects on the rest of the world.

Russia and Ukraine are two heavy exporting nations, contributing to economies on different economies, reasons why the war is so pronounced.

The degradation of environment is also there if war happen and this is major effect on agricultural produce leading into the food shortage and insecurities around that.

There are many negative effect of war but no profit and  rebalancing fiscal priorities could prove quite challenging even in advanced economies.
Environmental degradation is also a major effect. Up there is also the displacement of citizens who now become refugges in other regions, depending on their economy.

The only benefit of war is selfish interest. A nation seeking to expand its empire or build one, would go about conquering viable nations to further their course.
1644  Other / Beginners & Help / Re: what will happen after 21 million bitcoins are mined? (in layman's terms) on: September 20, 2022, 11:15:33 AM
Before thinking of the price that would be required, think of the first part mentioned, transactions cost would have to be ~$125k, if we take the last full block, 754925 has 1,492 transactions, so that would be around 83$ per tx, who do you think is going to pay that amount?
It's just a hypothesis and would not be fully put to the test until a while in the future. The perspective of LN taking many of the transactions off chain and only needing to open or close channels on chain, increasing the fees of such individual transactions. The downside is such a situation would practically force everyone to go for off chain means of transacting as, no one would spend ridiculous amount on a single transaction.
1645  Bitcoin / Bitcoin Discussion / Re: Satoshi’s Place, U.K. Bury, Greater Manchester on: September 19, 2022, 05:32:31 PM
Awesome idea and execution. The fact that your business is heavily focused on lightening network is also a good initiative, which would show other merchants how they can successfully accept Bitcoin, without worrying too much about huge fees and transaction confirmation time.

Which question; does accepting arts on ETH and XCP network contradict the idea of an"Satoshi place"? And do you see any other altckin based initiative coming up in the future?
1646  Economy / Economics / Re: What is regulations turning into on: September 19, 2022, 08:25:03 AM
I was thinking about this thread while reading this one, and it's obvious that coinbasw has shown to be very aversed to privacy of freedom over the years, from strict KYC policy, to selling users data and everything in between.

Moves like this one and creating a "perceived" non custodian wallet seems just like another way to whitewash their public image and attract more users to their platform. Coinbase are not pro Bitcoin or privacy.
1647  Other / Beginners & Help / Re: what will happen after 21 million bitcoins are mined? (in layman's terms) on: September 19, 2022, 05:07:13 AM
In this scenario then fees per block could total 1-2 BTC, rather than 0.1-0.2 BTC (example numbers), meaning a price of $80k rather than $800k in your example.
That's just a little less than the last ATH, so it's definitely a feasible amount per Bitcoin. There would also still be a percentage coming from block rewards, at least for the next 30-90 years. And the significance of that could get much higher with increasing value. Maybe even to the last coinbase reward being claimed.

I've always had the perspective that the rewards to mining requirements ratio, is a system that can regulate itself, especially as there are so many years between now and the finite supply and many gradual decrements between now and then.
1648  Economy / Economics / Re: Development of bitcoin in Nigeria and it's economic effect on: September 19, 2022, 04:59:03 AM
Great write up and a great read. After reading the title, I was half expecting some bogus link between Bitcoin and the economy and how it can prevent a recession or some like that.

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WHY IS BITCOIN LOOKED AT ONLY BY THE YOUTH?
Some reasons could be;
• They form the bulk of the population,
• They are younger and not so rooted into the traditional ways of doing things, hence they are more likely to adopt changes,
• They are more digitally aware.

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BENEFITS OF BITCOIN TO NIGERIA ECONOMY ARE
Those benefits mentioned, such as freedom to transact internationally, cheaper and faster, as well as potential for Bitcoin to rise, are more of personal benefits to users and not to the economy.
It could of course grow local businesses which supplies internationally and bring in more revenue, but that would be until they convert to fiat. Same with potential ROI
1649  Alternate cryptocurrencies / Altcoin Discussion / Re: Don't keep connected your wallet to a Dapps for a long time. on: September 18, 2022, 07:39:08 PM
I've recently read news about how third party sites and Dapps pose a security threat to wallet owners.

Ideally we should never give 3rd party platforms access to our financial or personal details (KYC). But if you must, it should be for a short period of time, and only limited to certain platforms.
1650  Other / Beginners & Help / Re: what will happen after 21 million bitcoins are mined? (in layman's terms) on: September 18, 2022, 07:33:44 PM
Average fees earned per block is somewhere in the region of 0.1 - 0.2 BTC at the moment. By the 9th halving, the block subsidy will be 0.09765625 BTC, which will mean it will be less than the average fees. This will happen around 2044, so only 20 years away. Another few halvings after that and the block subsidy will be ~10% of the total fees.
This opens up a new perspective in the discussion, which I had not thought of before now.
At the current block reward of 6.25BTC, miners averagely earn $122k - $125. Using the current average rate of one Bitcoin. If you include the tx fee, that's an extra ~$3k.

For the reward of mining to remain commensurate with the current value (in USD), i.e, 0.15BTC giving miners about the same amount they are earning now, which is ~$125k, then the value of 1 Bitcoin needs to rise to above $800k. That's a huge leap from the current price levels.
Would we likely be seeing $1 million to 1BTC within the next 25-30 years?

OP, you just registered your account, don't you think tou need to engage some forum search in other to take survey on aspects like this related to your question maybe it had been talked about? If i were you, i will engage doing much of learning and research than talking just to build myself,
Firstly, not everyone is savvy in using the forum search option, or is aware of it.
Asking questions is also a form of learning and research, if the said user follows up on answers and discussions bordered around their questions.
1651  Other / Beginners & Help / Re: Manipulation looks like on: September 18, 2022, 07:15:52 PM
There is no singular form of manipulation, it could happen in various ways;
• Pump and dump: here a whale buys up a large amount of a small cap asset and moves the price up, attracting investors. When more people start to buy at that price, they dump,
• News and media can also be used to manipulate trader sentiment. Social media influencers are now becoming more popular to shill projects,
• Governments can also manipulate the market with policies they adopt.

Bitcoin as the most popular and adopted  cryptocurrency is somewhat inoculated from the effects of manipulation. It's mostly unrewarding and expensive to attempt.
1652  Other / Off-topic / Re: IT boosts up the economy on: September 17, 2022, 06:36:59 PM
Technology is the currency of now and the future, if a country has a healthy community base who are highly skilled in Tech and E-commerce, they would have many of the leading industries in those fields, bringing in revenue from other countries around the world.
This is one reason nations around the world are investing in education.

Freelancing is a broader blanket, involving so many skills besides those which are tech related.
1653  Economy / Gambling discussion / Re: Bitcoin as an electronic currency, can it be use for bet gambling on: September 17, 2022, 04:42:23 PM
Bitcoin is quite common for use on sport betting platforms.
There are so many casino games out there which use Bitcoin as well as some other cryptos to facilitate bets.

Head over to the gambling section and you will find a number of such platforms there.
1654  Bitcoin / Bitcoin Discussion / Re: Crypto regulation in the EU and the USA on: September 17, 2022, 12:34:12 PM
People could say that it would kill crypto. Some channels on YouTube do.
YouTube channels say whatever for the views.
In reality, majority of crypto users do not care about their privacy or desire to keep their financial transactions away from he eyes of the government - "if you're not doing anything wrong you don't need to hide".
The minority users who value their privacy would avoid centralized exchanges and stick to decentralizated, P2P ones to avoid the regulations that come with CEX.

Others (me) could see this as an investment opportunity.
Care to tell how?
1655  Bitcoin / Project Development / Re: For those of you that launched crypto based project. Any useful tips? on: September 17, 2022, 10:51:38 AM
I would love to hear from the community, did you ever promote a project? what did you learn?
Yes, promoted multiple projects in the past and learnt a lot from them, but would be difficult to describe that in a few words.

Is there any warnings when it comes to investing in different projects that's related to how they market them selfs?
• First advice is not to invest solely based on marketing. The actual product is the value of a project and is more important,
• If you like the product, you then scrutinize the marketing strategy. There are projects which prioritize quantity over quality; such projects would encourage numerous spam posts about them around the forum (and internet), in the hopes that it gets them some traffic and users.
This is more common on social platforms like YouTube and Twitter, with bots promoting several projects multiple times, sometimes in the same comment section,
• Customer response is also an important aspect of customer relations. Do not only check out how a project tries to announce themselves to new users, also check how the interact with existing ones.
1656  Other / Meta / Re: How would bitcointalk community react to bitcointalk nfts on: September 15, 2022, 05:52:17 PM
A giant Panda is a bear, so your NFTs would be promoting the bear market, just kidding. But mroe seriously, the Bitcoin centric part of the forum would not care for a forum themed NFTs, or any NFT for that matter. There are definitely members who see value in it and associate with them, but do not expect a wide spread interest if you did create some.

Just a quick edit from these: https://opensea.io/collection/eipandas
Basing them off "ethereum improvements"? It frankly would have been much better if they actually were inspired by the bear market.
1657  Bitcoin / Bitcoin Discussion / Re: The impact of bitcoin on world population, what happens when the population rate on: September 15, 2022, 03:07:28 PM
Yeah it reduced as much people joined the network, I clearly stated it.
No, you didn't.
And the reward has nothing to do with more people joining the network, it's a protocol in the system; every 210,000 blocks, the coinbase reward is halved and it is currently at 6.25BTC. You might want to correct the OP.

First, the increased use of bitcoin could reduce the cost of living for some people around the world. This would lead to an increase in standards of living for those who have access to this new form of currency.
Use of Bitcoin does not reduce cost of living. Bitcoin barely impacts the economy of a Nation, and cannot directly impact the life of holders, simply cause they hodl.

Second, the popularity of bitcoin could lead to an increase in wealth among those who own it. If you can invest your money in bitcoins and make a profit, then you have more money than ever before!

Third, there is also a possibility that new jobs will be created as companies begin accepting bitcoin payments.
The number 2 point is the most practical. But Bitcoin is already very popular, and I would not be expecting a demand shock due to increased population, which happens gradually overtime.

Bitcoin does not create new jobs either.
1658  Bitcoin / Bitcoin Discussion / Re: The impact of bitcoin on world population, what happens when the population rate on: September 15, 2022, 02:25:06 PM
The first miner to solve the equation successfully gets rewarded with 25 bitcoins.
Outdated figures.
The current coinbase reward on each completed block is 6.25BTC.
It stopped being 25 after the halving in 2016.

The difficulty of solving the equations increases over time, so it takes more time for each computer to find solutions and verify transactions. As more people join the Bitcoin network, it becomes harder for each computer to be successful at finding solutions and verifying transactions. This causes the average time it takes to solve an equation to increase from 25 seconds in 2009 (when the first Bitcoin was created) to 10 minutes today.
The difficulty level can increase or decrease with each difficulty adjustment, depending on how the hashrate increases or decreases.
The average time was always designed to be 10 minutes for each block.

If the world population increases, it will have a significant impact on bitcoin. The more people there are, the more money is going to be spent on things like food, water and electricity. This will lead to increased demand for bitcoin as a currency.

The reason for this is that when there are more people in the world, there will be more transactions taking place. This means that there will be more money being spent on goods and services than there was before.
This is a reach in my opinion. Bitcoin is barely being adopted by the approximately 8 billion people on Earth now. And of those who have adopted it, it's not utilized much for purchases of daily needs. An increase in population, would not significantly impact demand, unless there is a rise in adoption.
1659  Bitcoin / Bitcoin Discussion / Re: What Payment Processors are being used Globally? on: September 15, 2022, 02:17:53 PM
As my believe is on Bitcoin and I know it was meant to be a payment processor why it is not listed on that list? Which made me question other blockchains.
In the technical definition of a payment processor (PP), Bitcoin was not meant or designed to act that way.
A payment processor, although described a bit differently by different website, has some similar terms across all definitions, in how it mediates between buyers and sellers, or in a more basic term credit and debit (cards).
PP acts as a middle man or intermediary, enabling user A, to send funds to user B, more easily and efficiently, despite barriers like banks, currency or border. It's effectively a third party.

Bitcoin is not a third party, infact it eliminates the need for one and allows users transact P2P, so it's not meant to be on that list.
1660  Bitcoin / Bitcoin Discussion / Re: OpenNode is testing Bitcoin payments with the Central Bank of Bahrain on: September 15, 2022, 12:08:09 PM
One issue, though, that I continue to ponder is if it will ever be feasible to use bitcoin without any third party intervention when adopted by the government?
Most likely not. One reason for this would be scalability issues; using Bitcoin as an accepted means of exchange would increase the demand for faster transactions, increasing the demand for 3rd party systems like BTC processors, or lightening network (best case scenario), or some centralized exchange system which is adopted by citizens (worse case scenario).

Another reason is how governments always want centralized and controlled systems. They wish to give the impression of being a citizens watchdog, which prevents them from getting into trouble, but in reality, they seek more control, which is not available on Bitcoin, without the use of 3rd parties.

As we all eagerly await the day when bitcoin will be widely and legally accepted throughout the world,
If you can use Bitcoin today, you don't need to wish on any day where governments get into it.
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