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2221  Bitcoin / Bitcoin Discussion / Re: Finger print alternative way to private keys for Bitcoin Wallet recovery. on: April 15, 2022, 03:46:55 PM
Adding biometrics as a means to access your private keys is a very bad idea. We literally leave our finger prints on thousands of surfaces regularly and these could be scanned and extracted.
When you consider that crypto is designed to be pseudo anonymous, linking your biometric data is counter productive.

2 Isn't there gonna be alternative way to restoring our private keys?
There is; Backing up your private keys in multiple safe locations, so you have more than one point of security.

Nowadays, Biometric finger print  has been seen as one of the most secured and trusted means of identitification and security,
Since no one's finger print is identical.
They are not. Biometrics are simply convenient, reason why they are so popular.
Most secure means of identification? Not at all.
2222  Bitcoin / Bitcoin Discussion / Re: Privacy concern for bitcoin users on: April 15, 2022, 03:43:57 PM
None of these requirements are new.
Exchanges have been very demanding in there KYC/AML procedure for quite a long time now and it's becoming more difficult to evade these days. The lines of what transactions or actions does not require de anonymizing oneself is getting blurry and with it the cost of privacy increases.

If all these information are leaked to hackers, this will be another big problem.
Assume that any information you submit to a website has already been viewed by multiple third parties, including banks, brokers, hackers etcetera.
2223  Economy / Economics / Re: Inflation and investment on: April 14, 2022, 08:34:04 PM
  • Will you continue to invest even if it is only 10%-20% of your total monthly income?
  • How do you achieve financial stability during this inflation?
• As long as it is financially convenient to do so, Yes.
You should only invest amounts you can spare and would not be needing at that time, this value changes based on your financial situation and you should adjust your investments accordingly.
10-20% of one's monthly income is a healthy amount regardless of economies crisis. The idea is invest amounts you're comfortable with, could be 2-5%.

• You should ideally have prepared for this sort of situation before one gets into it; Saving for the rainy day.
Growing your income sources is one way to survive an inflation.
2224  Economy / Exchanges / Re: Another reason to avoid CEX for buying Bitcoin on: April 14, 2022, 01:53:55 PM
Combined BTC trading fee rate is 1% (0.12% by maker and 0.88% by taker). Absolute minimum fee to avoid dust is 0.00005 BTC.
Trading fee on bisq ranges between 0.12% and 0.88% for maker and taker.
So, for a high trade the fees could be significantly high. If we are to consider the transaction in the op. If it was done on bisq and I was the taker, the fee would have been about $44, about half of the one in the screenshot.

All middle men take a certain fee for their services, some higher than others relatively.
Building trust and trading completely Peer-to-peer is an option where one does not have to pay a fee, but it involves high level of trust to work without some sort of escrow.
2225  Bitcoin / Bitcoin Discussion / Re: About the need to end anonymity in cryptocurrencies due to the scams. Coinbase. on: April 14, 2022, 10:31:42 AM
In my opinion, Coinbase and Coinbase wallet are insecure platforms
I am of the opinion that there is nothing like a secure platform on the internet or in real life, people have been scammed through social media, banks and pretty much every establishment in-between, regardless of their privacy laws.
If you are interested in crypto, you should first understand that you are your own bank and you provide your own security, bearing the risk of actions you take.

The main problem is that there is no type of control over the applications that you can connect to the wallet, Coinbase does not do any examination, nor does it establish a legitimacy verification policy, so scammers have found gold to scam thousands of people every day in the world.
I do not use coinbase services and cannot discuss how they run their programs. But as mentioned earlier, you should not depend on third party services to do due research. You should not even trust the platform if they did tell you that they researched on the services offered.
Do not trust; Verify.

For things like that, a strict regulation that completely strangles the anonymity of cryptocurrencies is absolutely necessary, because unfortunately they are stealing from hundreds of thousands of people, and rising, and there is no way to even track the identity of the scammers.

They can do a lot more to prevent this problem, for example, allowing only applications accepted by the platform to connect to their systems, after all, they manage the address that Coinbase provided us. They must guard that information. They must send a copy of the signed contract between the person who has the address held by Coinbase and the other counterparty, so that both parties are fully aware of the fine print. They must request passwords at all times to sign this type of contract. In short, they must do much more.
I do not agree with the boldened part. There is no necessity to take out anonymity from cryptocurrencies as that's what they were built on.
Steps (like those outlined) can be taken to protect and you can send an email to coinbase for due consideration.
I can also suggest publicly tagging them on social media as that usually gets a faster response.
2226  Other / Meta / Re: Which forum to post Guides/tips about bitcoin? on: April 13, 2022, 07:21:14 AM
Hey guys, I am interested in posting Bitcoin guides on how to manage wallets and other cool tips.
Largely depends on the content of your guide and what exactly the "other cool tips" are.

• If the post is more specific on how actual wallets work and their utilities, then wallet software is the best fit.

• If it's more of a general guide to wallet security and tips to keep your crypto safe, beginner's & Help would be a better fit.

All in all, do not stress too much over it, after making the post, fit in into the option you feel is best based on the content. It would likely stay there is it is a fairly good fit.
2227  Other / Beginners & Help / Re: Please enlighten me on: April 13, 2022, 07:01:54 AM
Living exclusively on crypto is not possible at the moment (except maybe where Bitcoin is accepted as a level tender). There are lots of online services you can finance with crypto,l Bitcoin, and depending on your country's acceptance to cryptocurrencies, some physical stores and merchants could accept it as a medium of payment, but that's the extent of which it can go. Search around your country to know how far this extent goes and how much you can get directly with crypto.

Also crypto is a general term to describe thousands of coins. You will have to specific on the currency and how receptive the country is to it.
2228  Other / Beginners & Help / Re: Why beginners should pay attention to their privacy on: April 12, 2022, 09:13:03 PM
That was ~25 minutes well spent, or rather ~16 minutes if you count that I watched it on a faster playback speed.
Thanks for the channel recommendation, his mix of wit, humour and actually passing on useful information is something I would want to see more of..

To the topic in question, privacy; It is something I didn't care about before I stumbled into Bitcoin and this forum, I allowed permissions, agreed to ToC without reading the agreement, and accepted cookies without giving it a second thought, which is the same for a frightenly amount of people out there.

In addition to the privacy risk when you click on a website, there is also a risk when you simply talk to someone as some device could be "inadvertently" activated and pick up your conversation; this was covered in this guardian article. This blurs out the limits to what information companies, brokers and who knows who else can acquire about someone.

The issue I see is that the cost of keeping your privacy is constantly increasing. The populace is gradually being herded into grating access inorder to perform simple tasks, otherwise they would have to go through several hoops to remain somewhat anonymous.
2229  Bitcoin / Bitcoin Discussion / Re: what happens if miners cannot find solution? on: April 12, 2022, 07:23:24 PM
What happens if the miners cannot find the solution or takes a really long time.
If the miners cannot find the solution at their first attempt, they adjust a parameter in their header and try again. It's a continuous process which continues until a miner gets the hash result. This can take a long time or a quite short time period.

The time it takes to solve the cryptographic puzzle and confirm a block, is averagely fixed as the difficulty level is adjusted to match the Bitcoin hashrate so the time between transactions is approximately 10minutes, not a fixed time.
2230  Bitcoin / Bitcoin Discussion / Re: BITCOIN NOW A LEGAL TENDER IN SPECIAL ECONOMIC ZONE OF HONDURAS. on: April 12, 2022, 06:53:29 PM
Quote
Both the sale of bonds and the ability to use bitcoin as legal tender will be “undergirded by world-class anti-money laundering (AML) and know-your-customer (KYC) standards” to ensure regulatory compliance.
Clauses like this are the reason I do not get excited when governments get involved with Bitcoin. It helps Bitcoin adoption as it markets it to an entire population and the more governments do that, the more people get aware of Bitcoin. The downside is Bitcoin is run as a centralized market, where users have to submit KYC and the government's use it as a tool to track their financial tracks

Governments adopting Bitcoin is big news, but a bigger news is the citizens moving towards Bitcoin as an alternative to government backed cash. That presents a more community based approach
2231  Other / Archival / Re: Bitcoin's correlation with Nasdaq 100 reached ATH on: April 12, 2022, 06:39:23 PM
Some analysts believe that this may be a harbinger of a market crash and that such a correlation calls into question the properties of bitcoin, such as risk hedging and a defensive asset.
I do not see how this creates a risk of a possible market crash. Periods of correlation between different markets which share investors is expected and has been happening for quite sometime now; This could be due to shared trader sentiments and does not signify a crash.

I do not see this as a long term situation, there are shared investors in different markets, but that does not stop them from having individual value based on their uses and qualities, Bitcoin would not be any different.

Imo, this does not call bitcoin's properties into question at all.
2232  Other / Meta / Re: <(*_*)> ø¤ºQUESTIONº¤ø,¸¸,ø¤ºABOUTº¤ø,¸¸¸,ø¤ºPLAGIARISMº¤ø,¸¸,ø¤ºTHANKS/(*_*)\ on: April 11, 2022, 08:28:42 PM
if I did this with out giving credit is it plagiarism?
I do not fully understand the context of your post and some of the words like "modded", (which I assume means modify).  But if I'm to speak from a general stand point on the topic of plagiarism; If you don't credit the source which your content is based on, then it counts as plagiarism.

How much is too much alike.
If it has little or no original thought or inclusion.
The percentage of originality varies across different sectors, but for a general discussion forum, you should not copy/paste or at least not be reading off the post or source when wrting yours.
Paraphrasing also counts as plagiarism.
2233  Economy / Exchanges / Re: Coinbase suspended india ? on: April 11, 2022, 06:52:59 PM
Either way if u want to exchange ur crypto to fiat at some point you have to through KYC process anyways or if u want to do privately deal then you got to trust someone
No you do not have to.
There are decentralized, P2P networks where one can trade without having to go through the KYC process, one of such platforms is Bisq. However such decentralized platforms usually have lower liquidity.

If you want to deal privately, yes, you would need to trust the buyer/seller or trust an escrow, if you both chose to use one.
2234  Economy / Exchanges / Re: Coinbase suspended india ? on: April 11, 2022, 06:11:47 PM
If we have binance i dont even see why coinbase ? If binance falls im out of crypto and btc
Binance is a third party and not directly related to Bitcoin, so you shouldn't base your Bitcoin or crypto decision on them.
All centralized exchanges (coinbase and binance included) are prone to hacks and crashes and are dependent on the developers.
Bitcoin operates efficiently without them and if you wish to consider it, there are open source custodian wallets you can use, as well as decentralized P2P exchanges for exchanging Bitcoin, or just directly trade P2P.

• Do not store your funds on a centralized and custodian platform,
• Do not submit your personal details to them either.
2235  Other / Meta / Re: Help end this phase for Nigerians @Theymos on: April 11, 2022, 04:15:02 PM
• The statistic supporting a local board for the Nigerian community have been laid out already and in several posts

• The problem with communicating through a local thread has also been expressed as it reduces the flow of discussions as well as maing it a difficult read,

• The solution to this problem would be a local board with possible child boards which would give more legitimacy to the community, connect more Nigerians on the forum and make it easier for information to be passed around.

I'm also requesting theymos to consider the plea of the members of the Nigerian community for a designated local board.
2236  Bitcoin / Bitcoin Discussion / Re: Bitcoin and DCA w/ Results on: April 10, 2022, 08:28:52 PM
I do not think I have seen a post which compares relatively which DCA technique could be more profitable in terms of aount of bitcoins acquired. If DCAing, j personally would prefer it to be as simplistic as possible, this involved buying a specific amount, at a specific time.
Timing red candles or price drops dives into the area of trading and could be complicated for someone who simply wants to own some bitcoins.

But even better strategy is to just put as much as you can on 1st Jan 2015. And I would say it's the same now - better to make a lump sum investment today than to spread it over years and get less coins.
Some would argue that DCA helps someone who doesn't have a lump sum available to build a structured way to stack up their portfolio.
They could for instance set aside 10% of their earnings every week or month to buy Bitcoin.
It also helps with indecisiveness, as some with money to invest would want to pick their best possible time to buy.
2237  Economy / Gambling discussion / Re: Premier League Prediction Thread 2021/2022 on: April 10, 2022, 04:23:58 PM
In the second half, I wonder what Klopp will anticipate equalizing.
The game is very open and both teams threaten when they go forward with beautiful end to end play.
Getting the first goal in the second half would be very crucial in deciding the game;
• If that goal goes to Manchester City, it could decide the game, creating a deficit that would be difficult t overcome.
• If Liverpool gets the first goal, we are back level and it's anyone's game from then on.

Great game.
2238  Bitcoin / Bitcoin Discussion / Re: 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF 79k bitcoin address. The truth about it? on: April 09, 2022, 08:24:24 PM
Yeah I know the story of dumpster searching. I think he lost the access to wallet and curses his indifference xD
This case is quite different from the guy who inadvertently threw away his hard drive which contained his private key.
This involved 7,500BTC not 79k and happened in 2013, not 2011.

Those bitcoins are almost certainly lost for good as the hard drive would likely be irredeemably damaged by now even if it was found, which is an impossible feat as well.
The current case which the OP is discussing could still b a wallet which someone has access to, so it can't be determined that they are lost.
2239  Other / Beginners & Help / Re: 2FA confusion on: April 09, 2022, 08:12:48 PM
There is one thing I'm trying to catch here, isn't having access to recovery seed neutralised the power of 2FA Authentication?
It essentially does. Seedphrase serves as a fail safe system which you can use to recover your address should you lose other modes of access. Reason why it would be kept secure and possibly duplicated in different locations.

2FA serves more as a means to prevent breaches through your device and is not much recommended cause it involves a bit of centralization
2240  Economy / Economics / Re: Will sanctions force Russia to create a CBDC of its own? on: April 09, 2022, 12:13:25 PM
A digital Ruble living on its own blockchain network would be truly unstoppable. If other countries wanted to bring down Russia's economy, they would need to shut down the entire Internet to become successful (something that's largely impossible). Imagine if the new digital Ruble is launched as a sidechain to the main Bitcoin blockchain. It'll be as secure and censorship-resistant as Bitcoin is, greatly undermining the US Dollar's influence in the mainstream world.
Countries can simply ban Russia's digital blockchain and not interact with it as a way of imposing sanctions, just as some countries have done with Bitcoin. Of course it would be possible to trade it P2P without banks or government intervention, but this would have little effect to the country as majority the trades that boosts economies do not happen covertly, but rather publicly between Nations.

Few weeks ago, Russia requested that E.U Nations purchase their oil in ruble as a way to boost the currency and in turn the economy.
Creating a CBDC would not evade sanctions, it would just be another centralized digital currency.
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