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1741  Economy / Economics / Re: Saving one third what you earn monthly is not that hard, isn't it ? on: December 17, 2022, 02:54:27 PM
If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

It sounds easy but most people will trap into the lifestyle inflation, so they will be spending what they earn to show others about life style while very few can remain and focus on long term returns over these worthless pride statements. You can save 1000 or even 2000.too which solely depends on how we decide to live no matter how much we earn.
Unfortunately, from what I've observed in my proximity, especially with people in their 20s and 30s, people buy designer brands on clothing or electronic appliances in order to show off. I generally try to avoid unnecessary spending, but not to an extreme level. The largest expenses are usually rent, food or groceries, and fuel. Typically, before massive inflation hit somewhere around spring, there were months that I managed to save over 20–30% of my salary. In practice, saving varies from country to country, and expenses usually vary from month to month; there is rarely a standard fixed amount that is set aside, especially in our day and age.

You can save 30% or whatever amount you want to save if you stick with the intention of saving it. Yes due to inflation hike the certain percentage can be missed but some of the financial advisors gave advise for the working class people to have monthly and yearly budget separately. But many will have their monthly budget but they failed to calculate the yearly expenses like insurance, schooling fee or any such expenses which we don't normally spend every month but once or twice in a year.
1742  Bitcoin / Electrum / Re: delayed electrum transaction on: December 17, 2022, 02:24:36 PM
-snip-
Some times Electrum ETA give wrong calculation of fee too which I personally experienced multiple times so I am practicing the habit of checking current fee for next block in Mempool space before choosing the fee on Electrum.
I don't know what you mean by "wrong calculation" because as the name of the slider suggests:
ETA = Estimated Time of Arrival, it's more of an "estimation" than a guaranteed timeframe.

My post is only to tell OP that increasing the fee isn't the best course of action in his case.
I mean wrong calculation of fees like over paying or paying less than what mempool suggests us to use.

I know that mempool can clog too quick than we imagine but I am not talking about the guaranteed time or anything.

1743  Bitcoin / Electrum / Re: delayed electrum transaction on: December 16, 2022, 04:01:26 PM



Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions
Most of the time, this isn't necessary specially if you're using "ETA" fee slider which has quite high recommended fee rate.
As long as it's telling you "In the next block" or "Within the next 2 blocks", the fee is alright.
The issue was: there's an unconfirmed parent transaction.

Some times Electrum ETA give wrong calculation of fee too which I personally experienced multiple times so I am practicing the habit of checking current fee for next block in Mempool space before choosing the fee on Electrum.
1744  Economy / Service Discussion / Re: Can we suffer at some exchange due to some of their services' breach? on: December 16, 2022, 01:01:23 PM
After the recent FTX dilemma, we need to rethink on our decision to keep our funds at exchanges at all or not. All this has actually impacted the markets' trading volume a lot already, which shows that traders are not interesting in trading too much and they are taking out their money at non-custodial wallets. I came across a news that says:

'A third-party vendor linked to the Gemini cryptocurrency exchange has suffered a data breach. The breach happened on or before December 13. The hackers gained access to 5,701,649 lines of information associated with the Gemini exchange customers. The obtained details include the email addresses and some of the phone numbers of these customers.'

More available at source

This shows that sometimes, even not being guilty, the place where we put our trust and money may get compromised due to the services it is using or attached to, same as in this case where Gemini was not at fault but the third party vendor got hacked and there was a huge data breach of that exchange. Should we worry on every small aspect now that we know that these places are also vulnerable to get attacked not directly but indirectly through the services or various other departments they are involved with?



Data breaches are not high threat like security hack for an exchange but these datas are not really from exchange but from the third party which the exchange shares the data with. But are we really going to suffer due to this then the answer is not if you know what you're doing whether it comes to internet so you can get rid of phishing attacks and most commonly known threats. But one who really want their privacy at top priority should never ever disclose any personal data to others even its highly popular and trusted exchange.
1745  Economy / Economics / Re: Saving one third what you earn monthly is not that hard, isn't it ? on: December 16, 2022, 11:06:57 AM
If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

It sounds easy but most people will trap into the lifestyle inflation, so they will be spending what they earn to show others about life style while very few can remain and focus on long term returns over these worthless pride statements. You can save 1000 or even 2000.too which solely depends on how we decide to live no matter how much we earn.
1746  Other / Beginners & Help / Re: It's hard to trust any crypto CEO this days on: December 16, 2022, 09:22:41 AM
What happened with LUNA is kind of shocking because the project went to zero and people lost millions and billions but in next few days he managed to come up with another project called LUNA2.0 and am I the only one who feels these atrocities should be stopped with no tolerance at all?

Laws will be in the favour of rich people no matter what so don't trust too much when it comes to money no matter how credible the person was because we don't know what the future have.
1747  Other / Politics & Society / Re: Russia power over rated against NATO here is why on: December 15, 2022, 06:23:15 PM


Even If india Iran russia belarus china will go all against NATO still NATO are stronger NATO got numbers.


If there is such a war then its nothing other than world war 3. Roll Eyes

But things aren't that serious as you described and the only reason why Russia is having the upper hand is because many European countries still need the oil and gas from Russia to satisfy their oil requirements.
1748  Economy / Economics / Re: Retailers make more profit than wholesalers during inflation. on: December 15, 2022, 04:44:32 PM
That makes sense to me, because wholesalers are supposed to sell for low profit margin but in high quantity so the retailer can resale to the end customer and get their profit too. And we can't compare just with one product as an example this even without how man quantities sold by both parties.
1749  Other / Meta / Re: Ignored user's post on QUOTE is visible on: December 15, 2022, 03:36:46 PM
I knew it from long ago but today realized that ignore option doesn't serve its purpose. If we put someone on our ignore list, his/her post isn't visible. But when someone else quote the ignored user, it gets visible which I guess doesn't make any sense. Why don't we have the option to ignore someone permanently in such a way that we don't see their post without removing them from our ignore list?

If the feature you're expecting to be implemented may hide most posts from you if you ignored more people so its like complicated to implement and not much to be offended if its shown by via others post which is simply becomes someone else's post when they quoted the person you put on ignore.
1750  Bitcoin / Bitcoin Discussion / Re: Physical Bitcoin Shop in Port Harcourt (Nigeria) on: December 15, 2022, 01:33:30 PM
Happy Birthday!

Well, it's an p2p outlet nothing else and if there is regulation issues with the government and Bank then how they can open such outlet in a public place.

For storing 1000 dollars worth of BTC I think Electrum will be better choice than a hardware wallet and holding for one year may not be a long term investment, I consider its a long term only if you manage to hold it for a cycle which is pretty close to 4 years.
1751  Bitcoin / Bitcoin Discussion / Re: A class about Bitcoin is being taught at the university.I am an teacher on there on: December 14, 2022, 04:57:22 PM
I am kind of confused after reading OP, what you are actually teaching? About blockchain or bitcoin?

Blockchain technology is wide and has more utility case apart from bitcoin and blockchain development courses are already in practice on some universities and online teaching platforms but you are teaching about Bitcoin alone not really anything about blockchain, am I right?
1752  Other / Meta / Re: Why do users just state their opinion on a topic rather than discuss it on: December 14, 2022, 02:48:45 PM
Possible reasons are

They don't really care about discussing or giving opinion, they simply want to fulfill post quota.

Not much of discussion is going on, so they just leave it once giving a opinion.

Every thread doesn't need to be considered as discussion, some only created for a solution so once OP got the answer he will left it without locking.
1753  Economy / Service Discussion / Re: If there were someone's Assets in FTX before FTX collapse? on: December 14, 2022, 08:53:13 AM
Whoever held their crypto in FTX wallet and whoever invested in FTT token probably lost all their capital value apart from this market had an impact other exchanges like most people withdrew their funds from exchange's wallet so its loss for the Exchange. And due to fall of prices people lost it too.
1754  Economy / Economics / Re: This could be the biggest news in 2022 on: December 13, 2022, 05:32:41 PM


We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us.  Wink

"Be your own bank", is one of the primary reason why bitcoin was created so we don't actually need more companies to acquire banks and make it crypto friendly. Cause at the end if the day bank makes money from holding our money and lending it to someone to make more money which should be changed atleast with the evolution of Bitcoin era.
1755  Economy / Gambling discussion / Re: turned gambler after investing in BTC or investor turned gambler? on: December 13, 2022, 03:06:24 PM
This is just a question got from someone I hangout with yesterday when I introduced her to investing in BTC. She is 50+ but managed a busy small hotel and has a son who had been playing games on the computer all the time. After some discussion, I advised her to just remind the son not to gamble the BTC.

So she asked how I end up gambling online. I'm not totally a gambler at all, I started investing and somehow stray as I'm trying to win some.
She began to worry since her son is on the computer all the time and might gamble upon learning the BTC can be gambled.

Which one has a high possibility of happening, a gamer eventually becomes a gambler or an investor turns into a gambler?
But first, answer the poll which are you. Are you a gambler that become an investor or an investor that turned into a gambler?

The reason why you turned out to an occasional gambler is just because you're promoting a casino for that you need to have basic knowledge about casino and gambling works but this has no relationship with investment and BTC. Millennials are more into the online games and also there is potential to earn a lot by gaming so all we need is to have skills and management of our knowledge.
1756  Other / Meta / Re: So many threads on FIFA World Cup 2022 on: December 13, 2022, 11:15:54 AM
Reporting is the only way to stop the duplication of same content in multiple threads, but reducing it to one thread will not reduce the spam at all but it will be easier to report the spam posts because its all will be presented in one thread instead of multiple threads so the conclusion is break the report to moderator button.
1757  Other / Meta / Re: List of Inactive Mods (Last seen a long time ago), do we need replacements ? on: December 13, 2022, 09:15:10 AM
Each moderator can do multiple tasks and moderate multiple boards. If you see an assigned staff for a specific board is inactive long time ago, it does not mean that board is not moderated at all.


If I am not wrong only global moderator can handle reports from multiple boards while all other moderators can only handle reports from their assigned boards only ( correct me if I am wrong).

I think we need a dedicated mod for B&H because it can reduce the work load of global moderator because its is one of the section mostly receive reports if my assumption is right.
1758  Other / Beginners & Help / Re: Be careful ! on: December 11, 2022, 03:50:41 PM
Some days ago I decided to make some withdrawal from Binance exchange and I noticed that the withdrawal went through without any form of verifications e.g Authentication code, Email code and phone number code.
  • Did you whitelist that address for your withdrawal?
  • Did you turn on One-step Withdrawal for your Binance account?

Quote
One-step Withdrawal

When this function is turned on, you can withdraw small amount crypto to whitelisted addresses without passing 2FA verification

You can check its on/ off status at https://www.binance.com/en/my/security
Hmmm now I'm curious 🤔🤔🤔🤔

I remember that Trust wallet now have a straight payment feature in the wallet from binance direct to the wallet instead of copying your wallet address and inserting into binance exchange, could this be the case? Because i am using this features.



I've cleared app cache for binance app and I've checked the security settings too, all is intact.



Will wait for a few days and see what happens again, though I've contacted customer service, waiting for a reply.

From the second image its clear that these security features are not deactivated so there is no chance for compromise here. So you had whitelisted your address which let you to withdraw without need of any authentication since the amount is small.

Clearing cache will not change any settings of the app so this isn't caused by settings either.
1759  Bitcoin / Bitcoin Discussion / Re: "Bitcoin is Islamic" -by Economist Bruce Fenton on: December 11, 2022, 02:29:10 PM
If I am not wrong money isn't prohibited in any religion so bitcoin itself a currency so its Islamic for sure.

While who really cares about religion when it comes to money, when you made billions you will be accepted no matter what religion you belong so as a commoner we need to realise the religions are created by us to progress humans not to keep them under control.

Gambling is haram by any interpretation of the Quran so if someone were to trade Bitcoin for short term profits, it could be considered impermissible. Islamic nations aren't generally susceptible to individual liberties and I don't see that translating to financial liberty either. Bitcoin is only as Islamic as the theocrats in power want it to be because here's nothing in Islamic writings that would even begin to capture Bitcoin's compliance with Islam.

That being said, the Middle East is becoming slightly more westernized so it shouldn't come as a surprise that they're making BTC investments. I just wouldn't make the connection that it's because Bitcoin's Islamic. There is no relation.

Gambling is haram but trading isn't so how can we say that trading bitcoin for short term is impermissible?

Either short term or long term as long as its used as medium of transfer the bitcoin isn't against the sharia law.

Middle east becoming modern but not entirely still equal rights for women is not practiced in some of middle east countries but they see the growth of BTC for decade and atleast now they decided to jump in or they will miss the train.
1760  Economy / Reputation / Re: Problem on Logo Design Order on: December 10, 2022, 06:47:13 PM

During the process of logo design, he suddenly pmed me saying that he has created the logo himself, and ordered me to just shift my focus on the ANN thread design. At that time, the logo design was almost done (~95%)

He paid you for the logo and you agreed to create the logo so that is the deal here, if he decided to create the logo by himself after intimation of your deal then its obsolete so he didn't follow.

I don't think its necessary to leave negative feedback for now unless they keep pushing you to create ANN design with no payment.
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