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261  Local / Nigeria (Naija) / Re: Lets Please Discuss Altcoins on: October 09, 2023, 01:18:50 PM
Was also hoping to find a promising altcoin from the above-written comments but it seems we're all Bitcoin enthusiasts here  Cheesy.

Anyways, wasn't going to mention any altcoins,  since it has already been said countless times that altcoins are dependent on the bitcoin market and whatever happens to Bitcoin also happens to the altcoin. So, my first advice would be to invest in bitcoin, but if you're still interested in altcoins, then I'll say PI seems pretty promising. For dem whales and OG's, it might seem small, so probably don't mind what this nigga is saying. But for small start-up investors like myself, PI seems like a very promising diversity option. If you decide to buy it, it's your choice. And if you decide to just mine, it's also your choice.

Don't really know much about it, so please follow OP's advice and do your research.

Thank you...
262  Bitcoin / Bitcoin Discussion / Re: What is a "cryptographic vulnerability or weakness in the Bitcoin protocol"? on: October 09, 2023, 10:47:59 AM
Well OP,  no cryptographic algorithm or protocol is perfect, which means that, Yes, bitcoin has definitely been victim to many vulnerable protocol errors.

One of the many would be the 2010 Overflow bug. This happened in August 2010, when an attacker created a transaction that generated 184 billion bitcoins and sent it to two accounts, meanwhile, there are only 21 million bitcoins available.

This was quickly noticed and addressed by Bitcoin developers, and the invalid block that contained the transaction was replaced by a valid one in a fork of the blockchain.

Another would be the transaction malleability issues in February 2014, the 51k attack, and the quantum computing threat  ( the last 2 may not have happened yet, but they are possible future risks ).

3. As for a lesser known attack, there are the ikes of eclipse attack, CVE-2018-17144, INVDoS.

   Can't remember the story behind the first two but for INVDoS, it was a denial of service attack that could and would have crashed Bitcoin nodes by sending the malformed transactions. The bug/ error was discovered in 2018 by a bitcoin protocol engineer, Brydon Filler but he kept it a secret for 2 years and disclosed it in 2020 after it was fixed by a software update.

My not have any links for you, but you can read a whole lot more on the internet, maybe check out places like forbes.com, or even on the forum here...
263  Other / Beginners & Help / F U D: Fear, Uncertainty, and Doubts on: October 09, 2023, 09:55:03 AM
Sometimes ago, I read a thread on the forum, can't really remember where but it talked about fear being a motivational push to know, acquire,  and sell Bitcoin. In as much as it sounded motivational at first,  it also felt twisted and wrong cause we all know fear leads to doubts and stagnancy. So, I decided to look into it.

When it comes to Bitcoin, we all know there are risks attached to it. In fact, whatever thing you decide to do, be it good, bad, beneficial, or not, there are risks attached to it and it makes the future of whatever we are doing to be uncertain.  Now the question or the main deal is, do we need to wait for fear of regretting to be our push towards doing certain things?

Now, I have and I'm certain that we've all been in situations where we wanted to do something, we've set goals to solve one problem or the other and we failed to continue along the way. Personally, I think that was fear of uncertainty playing with us. Fear doesn't motivate it just leads to procrastination and zero growth where you'd find yourself saying, I'll do it tomorrow until tomorrow never comes ( been a huge victim). Confidently doing whatever you're doing consistently with the right knowledge is appropriate. If you're going to wait for motivation every day, you're not going to get anything done, learn to discipline yourself every day.

The purpose of this thread is to first of all encourage my fellow newbies out there who are finding it hard to adapt to the forum or anything at all. Just keep on learning and writing until you can't keep track anymore. Knowledge is very important, don't let fear drive you away from anything, and when it's time to acquire bitcoins you'll be able to face the risks too, without fear. And with the right knowledge.  

264  Other / Off-topic / Re: If you are becoming a billionaire in 2025,buying a large ship should not be goal on: October 08, 2023, 05:51:09 PM
I'm pretty sure what OP was just trying to say is that if you want to be rich, giving should be your motto. A lot of people focus on acquiring wealth not to contribute to society, but to just feel large and rich and like they've made it too, not that I'm against the rich or anything. Of course, I'm also going to be rich... Soon. But in essence, if you want to be a billionaire, be a giver. Another thing is the fact that he said: "if". That's not telling anyone how to use their money, it's just a condition for becoming a billionaire.
265  Other / Beginners & Help / Re: Let fear to lose be motivation to learn on: October 05, 2023, 09:12:10 AM
I  don't think fear is a motivation in any way cause it only stops you from calming down and making logical decisions.

Ok, it's a feeling we all feel as humans and it's unavoidable sometimes, yes,  but letting fear drive you and doing things regardless of fear are two different things. One makes you a coward and the other makes you brave. You must really understand that knowledge or no knowledge there's going to be losses. That's just how the world is, but with knowledge, risk can be reduced drastically, and with constant practicing, risks can drop to less than 3% making you an expert in the crypto space.
266  Local / Nigeria (Naija) / Re: Government Really Value Our NYSC? on: October 04, 2023, 10:04:52 AM
NYSC security suppose be priority to the government and they even made measures to protect the youths in service, such as providing security agencies, teaching the corpers basic security measures, restricting unauthorized movements, and so on. Knowing how the country is, all this is probably all talk and no do. But still, corpers should be able to take care of themselves, people should help in finding the kidnapped victims and not wait for the government to secure them, because if it's the Nigerian government that I know, "you go wait tire"
267  Economy / Economics / Re: How do you manage your finances and family if your income is low range? on: October 03, 2023, 02:38:43 PM
Having a low income with many bills can be stressful, and managing the family, bills, and income all comes down to two things ;
         Plan and expand.
Plan your expenses very well. Even with low income, you can get through bills when you make a proper budget and allocate funds to each pressing need.
Expanding may be in the form of getting a side hustle, and probably getting an extra hand from a member of the family.  One very important thing to note when it comes to expanding and trying to manage your family's needs would be to save up.

I know this may sound like a bad idea since" the money's not enough" and so on, but this is important. Trying to plan your expenses and getting an extra job is just a short-term solution. To make sure you're not struggling in the next 5 years waiting for some kind of destiny helper, you'll need to save. It could be 10% of income, $1 every day/ every week, however it best works for just as long as you do it periodically.
And of course, don't leave your saved money idle, invest it in something sure and less risky.

It may be hard trying to manage a family now, but trust me you don't want it to still be hard everyday till
268  Bitcoin / Bitcoin Discussion / Re: The lead of Chainalysis is unable to deny that their tech is "junk science" on: October 01, 2023, 10:21:55 PM
News says she doesn't know now how the software works internally and that she only uses it.
Anyways, the chainanalysis reactor software that is used to trace and investigate Bitcoin transactions was also challenged and criticized CipherTrace, an expert from another blockchain as he revealed its errors and said that it used a flawed method to trace funds on the blockchain.
269  Economy / Economics / Re: How to reduce the price of goods on: October 01, 2023, 09:45:32 PM
Well, the country has a very unstable economy right now with the value of its currency reducing day after day, true. Anyways, this may be some of the causes and ways to reduce the prices of goods in Nigeria ;

Well, you must first understand that the prices of goods and services are influenced by the movements of demand and supply in the country, and anything that affects these two affects the prices.

Firstly, the monetary policy in the country is terrible and isn't updated. There's an increase in the supply of money that a lot of people are unwilling to save and they spend every day, leading to more reduction in its value. Another thing that leads to this would be the increase in burrowing rates, increase in wages, profits, and many others. You see it's like a cycle that goes on and on.

Secondly, the insecurities. The Ukraine-Russia war affected the prices of goods, oil, etc. Even in Nigeria itself, there is no security, and people can't produce in such an environment. 

Thirdly, production is low. People tend to import more, and since the cost of importing is high due to the reduction of the value of the currency, they would increase the prices of goods brought down to the consumers.

Now to reduce the prices of goods, the government and most importantly the people would have to
Save and invest, implement and follow monetary and fiscal policies that are effective, resolve insecurity problems... Solving the subsidy issue would be extremely helpful, provide good infrastructures for manufacturers, and reduce the cost of production, which would help increase the quantity and quality of domestic goods instead of depending on imported goods
270  Bitcoin / Bitcoin Discussion / Re: Is possible to clone Bitcoin? on: September 30, 2023, 11:52:50 AM
Well, after asking a question and answering it, your answer may have to be questioned cause Bitcoin can be cloned and has been cloned. That's how Bitcoin Gold and Bitcoin SV came to be. Bitcoin was forked to create those other coins.
However, it also depends on what you mean by clone. Something exactly Bitcoin or something with the same characteristics? Bitcoin has been cloned, but no clone has served like Bitcoin, and none matches it. I think that's cause, apart from the fact that Bitcoin is the first cryptocurrency, it is also very popular. The more people use a particular cryptocurrency,  the more power it gets.

So, in as much as there is no crypto like Bitcoin though, it still has its clones.
271  Other / Off-topic / Re: Is this the path you should take to become successful? on: September 30, 2023, 11:13:53 AM
Topics like this always gets me off the ground cause, we all know consistency of course is the path to success.  Like just don't do it for a month or two and get discouraged cause you didn't see any results. Instead,  always do it... Continue doing it. Let doing be your reward and give you this intrinsic happiness. 

But must we always do what we love? Sometimes what we love isn't always valuable. Anyone who wants to be successful should be able to give/ offer value to a group of people, citizens in the country, to the world. All this really makes me confused cause, I want to live a fulfilled life doing what I want, but I also want to do things that are valuable and rewarding. So how do we tend to balance this?
Please..anyone?
272  Bitcoin / Bitcoin Discussion / Re: Why is cryptocurrency illegal in some countries? on: September 29, 2023, 02:20:05 PM
Crypto has it's advantages and it's disadvantages. It's volatility  and decentralization are setbacks,  but I don't think that's all the reasons for its ban.

Now in some countries like Qatar, it's been termed as "illegal" and banned cause, it's pseudonymity makes it easy to be used for illegal activities e.g. funding terrorism, and money laundering, and they have strict laws against it to prevent these crimes.

Meanwhile, some other countries like China see Bitcoin as a threat to its security, political power, national currency, and sovereignty from foreign affairs. They don't want any alternative currency that would undermine their economic stability and monetary policies.

Others consider it to be against their religion and moral values. Such countries are usually Islamic ones as they believe that it is prohibited to use any currency that isn't backed up by assets such as gold silver...

273  Local / Nigeria (Naija) / Re: My love for nigga on: September 29, 2023, 12:24:56 PM
I definitely get what you saying op, the country is really hard. But you know, if you work on yourself, personally, you're not going to feel whatever hardship the country is facing. And also, seeing as you love your country so much, you know you can help make it better in your own little way, however you want to.

Though the country's oil price is soaring high, it doesn't mean we don't have a refinery, because we definitely do. We just happened to still be depending on the imported refined products, and then the subsidy case.
So, Nigeria at 63. It'll surely be better, someday.
274  Economy / Economics / Re: Population: Economic strength or weakness on: September 29, 2023, 07:34:32 AM
A lot of criteria affect the success of a country seeing how countries like Japan, and  Korea are developed with their small population and countries like China are also developed with their overpopulation. I think it all boils down to the activities of the citizens and not whether they are large or small.

Any good leader would be able to influence people whether they're plenty or little. The education of the masses and the distribution of resources also matter a lot. There are underpopulated countries as well as overpopulated countries that have high poverty rates. Of course, such countries, don't need any additions as their resources are already limited. They just have to work on the people, their education, and their effective productivity.

People who want to add to the pop of little countries through marriage, immigration, and so on should be people who are ready to add value. And another thing about this population thing is that it's very possible to have overpopulation and the labor force is still small. Maybe most of the citizens are children or aged people.
What would one do in a situation like this? Obviously, you can't reduce the population and you also can't increase the population, cause resources are limited already.

So this comes down to the government using efficiently their human resources efficiently.
275  Local / Nigeria (Naija) / Re: Home or regular schooling? where you prefer for ur pikin if money nor be problom on: September 27, 2023, 11:51:55 AM
Just home lesson no go be the best option at all. Hwfa social life and skills? Being In a school environment makes one an alum with friends and cliques that'll become future business partners, co- founders, customers and so on. Home lesson go make pikin not to know how to socialize and for today's world no be who know book pass, na who sabi talk watin he know, use watin he know..

True talk, some teachers no dey try at all, but I'm very sure that class you heard the teacher talking about things in the classroom should have been a nursery class or something. You don't expect the teacher to be teaching them about life or logarithm there.

As money no go be problem, I go like send my pikin go better private school, definitely not boarding school.  Me I no sha attend and public school and I won't want to experiment it on my child, but I know say for better private school e go get better education and friends.


276  Economy / Economics / Diversification in Global reserves. on: September 27, 2023, 11:18:11 AM
The fiat currency as we all know is subject to inflation. Needless to say, a lot of economies have gone down due to it, but today, we're going to be talking about the US dollar.
 
The US dollar has lost 98% of its purchasing power since 1971 and has gone through an 8% decline in its shares of global reserves in 2021. Now the thing is, if the USD continues to face inflation this much, do you think the Global reserve would be worth anything much in the future?
Lately, other countries have begun to carry out trade in currencies aside from USD due to US sanctions and other reasons including trade war with China and fed hikes to reduce inflation.

I'm April, Emmanuel Macron, the French president said that Europe must reduce its dependence on the US dollar to keep its strategic autonomy and avoid becoming vassals to America.
Although dollars play a huge role in the world financial system and cannot be replicated by other countries, it doesn't still change the fact that it's declining and we may need alternatives to occupy shares in the reserves.

Gold seems like a fine option, considering how its purchasing power, remains more stable over time, but do you think cryptocurrency stands a chance?

 Now don't get me wrong, we all know and understand that Bitcoin in particular is decentralized, hence making it an alternative to money. Anyway, I intentionally used crypto and not Bitcoin since there are centralized coins that can be controlled by the Fed like USDC & USDT ( another thing is if they hold value as much as gold to be included).

So, do you think cryptocurrency stands a chance in share of the global reserves, now that countries are opened to diversification through assets? 
277  Other / Off-topic / Re: Google is 25 Today - What has been Your Experience ! on: September 27, 2023, 10:20:22 AM
Yeah, I also the "25"  substituting the "oo" on Google home page.
Google has been a friend, it's been there for me. (LOL, too cringe..¿). Anyways, I remembered this one time I was always on Google... I won't say 24/7 though, that's too much  Cheesy. But all my questions and problems, I took it all to Google, since I'm not the kind of person who communicates that much.
I've been using Google for as long as I can remember, but can't pinpoint when exactly.
3. Lately, I've been using Bing more. Google sometimes doesn't give you straight-up answers, and there are lot of information there, you don't know which to trust. But for Bing, it's information is related and not scattered like that on Google.
4. As for improvement I'd say they try to fix the problem of not giving me what I want. People sometimes say " Google knows everything", I don't want to go there and become way more confused than I was before typing my questions.


278  Economy / Economics / Re: Real estate vs cryptocurrencies vs business on: September 26, 2023, 01:37:04 PM
Well, they're all assets, they're all great investment plans with great risks acquainted with them all.
I'd divide $500k like this;
- Bitcoin = $150k
-Real estate = $150k
- Business = $200k

I'm more of a business enthusiast. Profit gotten from the business can be reinvested.
And someone might say... " there's a high probability of the business failing". All businesses fail, and some just decide to get up again.
And besides, like said from the start,  they all have their risks.
279  Local / Nigeria (Naija) / Re: Supreme court of Nigeria on fire - nothing we no go see for Naija on: September 26, 2023, 12:40:14 PM
Mr. Akande, the Supreme Court spokesman, confirmed and said that the fire wasn't all that deep as it has been hyped and speculated on social media platforms, and It was probably caused by mere electrical fault, not by a person. Then later on declined to tell what chambers exactly were burnt.
Has, lol  Cheesy

I may not know much about politics, but I know my country very well. People who are over hyping  it on the Internet have seen this over and over again.

Playing their little cheap tricks  Cheesy
280  Alternate cryptocurrencies / Altcoin Discussion / Ethereum's GAS increase. on: September 26, 2023, 11:41:16 AM
Good day, all,

 So, there was news recently about the rise in Ethereum's Gas rising to 72 GWEI on the 26th of September, 2023, and I decided to research it.
  
I believe we all know what the term "Gas" is on Ethereum's network. For those who don't,  it is simply the fee per transaction on the network. Gas price is determined by demand and supply in the market and may fluctuate depending on the network congestion and complicatedness of transactions.
 
Now, the causes of the increase include;

The deployment of Curve Finances native stablecoin. This had been long awaited by the Defi community.  The crvUSD attracted a lot of liquidity and actions to its platform,  thereby increasing the demand for GAS.
However, it was later redeployed shortly after deployment and added pressure to the network.

Another thing was the release of " stoner cats" NFTs on the network. It led to a lot of demands from collectors and lovers who rushed to buy them before they sold out.
This increased competition for block space and drove up the gas fees for everyone.

And then, the ongoing memecoin trading frenzy that started with the run of PEPE and continued with other tokens. Transactions took place on uniswap and accounted for 34% of all fees paid on the network in the last week.

This was what I could gather during my research, you can also read more here;

https://bitcoinist.com/
https://www.blocknative.com/gas-estimator
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