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2661  Bitcoin / Bitcoin Discussion / Re: Where to store your keys? on: November 09, 2021, 05:56:29 PM
If I had such amount I wouldn't worry about keys, because these coins would be splitted among different third party platforms to generate passive income. It makes no sense to have so much money like 2000 bitcoins and keep it hidden like a pirate treasure. Bitcoin's purpose, like the purpose of any currency, is to serve its holders in the most effective and profitable possible way. Otherwise, what would be the point?
Bitcoins purpose is to be used as a peer to peer currency and not to be deposited on a third party website which centralizes it, in the hope of earning passive income at a huge risk of losing your stash or getting your identity exposed.
If you wish to use Bitcoin effectively, use it for daily purchases a merchants that accepts it,
For it to be profitable, store it safely and speculate that the price would rise in the future.
2662  Other / Meta / Re: Proposal for high reporters on: November 09, 2021, 11:45:16 AM
Following the text in the report page about your percentage not being very important and not to be focused on, it's unlikely the admins put extra effort to maintain that percentage. This is a good suggestion and if it is easy to implement would definitely be worth it.

But I am against the reporting badges. For example, when my kids were young they would get stickers for doing good things, tidying up, etc. One evening I overheard them, they deliberately made a mess to then get a sticker for tidying up. Knowing human nature , I’m sure they would be plenty of people who would create alt accounts and deliberately produce spam to be able to report these posts, In order to get a “sticker”/badge !!
No one would be getting a badge for one or two good reports, them need to do hundreds or possibly thousands of them to be eligible for a badge, this seems like a lot of work for someone to do normally, much less when you're the one causing the trash you hope to pick up, chances of this happening I'll say is very unlikely.
2663  Other / Beginners & Help / Re: newcomer question on: November 09, 2021, 07:05:21 AM
When you talk of the security risk involved in purchasing Bitcoin publicly, is it same risk involved in withdrawing fiat publicly or there is something more?
I would say it is something more. The concept of Bitcoin is not yet generalized as fiat is and many still associate it with the elites or 'silently rich'. When one withdraws fiat on an ATM, they do not announce anything as everyone uses fiat, only if criminals know that you have a large amount on you, you would become a target, but with Bitcoin ATMs, using them announces that you own some bitcoins and even without knowing how much you got, people could assume you have a lot, especially when the price increases rapidly.

For more privacy concerns, who provides the Bitcoin ATM?
The Centralized exchanges, such as banks does for fiat ATM. If yes, does it require kyc to use?
• The Bitcoin ATM is provided by the manufacturer. They usually have different terms and conditions to use.
• Bitcoin is ATMs do not require KYC, but some require you to have an account on the website of the provider, which may require KYC,
Some others use phone number verification.
2664  Other / Beginners & Help / Re: newcomer question on: November 08, 2021, 07:42:56 PM
Op might get an information overload with all the suggestions and recommendations in this thread.

There are different ways to buy or sell Bitcoin;
• Exchanges: this is a platform that connects buyers to sellers and could be centralized or decentralized.
Centralized exchanges and the name implies, control the funds you deposit on their wallet and can freeze or lock them if you violate their ToS.
Decentralized exchanges on the other hand do not have access to your funds, but only connect buyers to sellers.

• Peer-to-Peer; this could indicate a face to face trade between two individuals or it could be done on a P2P platform, this platform could be centralized or decentralized.

• Bitcoin ATMs; this is another way to purchase bitcoins, but I would not recommend it due to the security risks involved with publicly buying Bitcoin.
My recommendation would be a decentralized P2P platform like Hodlhodl or Bisq, if you're privacy conscious.

Will I be able to purchase the bitcoin straight away and then use this to make the purchase without a delay?
tl;Dr
Yes, you can, you just need to select a means to do that.
2665  Bitcoin / Bitcoin Discussion / Re: Will bitcoin ever get regulated on: November 08, 2021, 07:25:25 PM
Can a decentralized currency like bitcoin ever get regulated?
No, or at least, not directly. The Bitcoin network is designed to be resistant to regulation or centralization. And as long as the protocol holds, it cannot be regulated.

Indirectly? Yes, Bitcoin can be regulated to some degree. While the network is decentralized, it can be operated through centralized channels which can serve as a means for the government to control it, the most common example of this is centralized exchanges. They give users the feeling of convenience and control, but actually take away the freedom and anonymity of its users.

Who holds the keys, owns the coins; and with centralized exchanges, they own the keys to the coins stored there and allow users access it based on their discretion.
2666  Other / Meta / Re: Timer for searching 90 seconds?? Also 360 post rule? Update Requests on: November 07, 2021, 02:52:09 PM
The sale for posts why 360 seconds that’s to long. Make that 60 seconds.
Except one is copying and pasting or posting "reserved" after ooeninya topic, you are very unlikely to trigger this limitation warning. The main purpose is think is to get users to read more than they write, more so if they are new to the forum;

• From making a post, to browsing around the forum to find another topic that interests you, reading it and possibly reading additional replies, then typing out your own reply, 360 seconds would ideally have passed.
2667  Other / Meta / Re: Is "Scam accusation" board utilizing effectively? on: November 07, 2021, 07:10:20 AM
Most people on here would be pretty used to such scam techniques....
That is false. As you can see, time and time again, people regularly get duped by impostors on Telegram.
That amount doesn't quite account for majority here on the forum. Many of the active users here would have come across a post or two about telegram scams and not replying to unsolicited messages, but there would always be users who would still fall for it.
I also added that it would be useful to put the warning out there as it could still save users who are oblivious.
2668  Economy / Economics / Re: Preparing for the future. on: November 07, 2021, 07:02:18 AM
Many of the high paying skills you listed are actually professions which are studied in the university and not just skills you acquire on the Internet. Of course, you could teach yourself or take an online course, but considering the nature of this post, it should be pointed out that they are professions. Also, so many jobs are full time and cannot be joined with another job, except if that job can be done remotely

Unfortunately with the current projection of things, the pay from that job that you have spent most years in school preparing for and trying to get may soon not be able to sustain you economically in the near future.
Is there a rationale to this projection? Or a link one can check out? The only thing I can think of is inflation, which would reduce the value of money earned and increase the value of products in the market; This is a salient issue and should push one to get multiple streams of income rather than relying on just one.
Finding an alternative stream of income does not require learning a new skill.
P.S, I'm not against leaning a new skill, it's a very much needed requirement in today's world, I'm just creating a counter argument so most people would know what they're going in for when embarking on it.
2669  Other / Meta / Re: Is "Scam accusation" board utilizing effectively? on: November 06, 2021, 07:29:35 PM
I would vote to get rid of the "I was messaged on telegram by so and so scammer" or "YouTube giveaway scam", posts as they are generic, they could however be useful in warning newbies of the tactics used by Internet scammers. Most people on here would be pretty used to such scam techniques, but it doesn't hurt to put it out there every once in a while. So, maybe I wouldn't vote for that either.

There's no info on the scam accusation board so no one can determine what fits there or what doesn't, it just needs to be related to a scam and should ideally follow the reporting format which is stickied on that board.
2670  Other / Beginners & Help / Re: This Brand New Member is Here to Stay on: November 05, 2021, 01:23:25 PM
I usually do not comment on threads like these, cause they are usually merit/attention hunting posts made with very little quality or care. This could yet be one of the same, but the OP obviously put effort into making it and also to reply follow up comments.

Ito everyone who's contributing to keep this place the biggest and healthiest place to discuss Bitcoin and make deals.
Welcome to this community, in your time browsing through you'll identify the accounts that contribute positively and those who troll. The forum is a healthy place, but you will need to grow a thick skin, cause; this is the internet. Also, when making deals, beware of scams which are not moderated here.
2671  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Fungibility Issue on: November 04, 2021, 06:33:34 AM
3. If you learn that you are owning tainted coins, you should approach the legal route and inform the law enforcement. You never know you might have been sent stolen coins from someone's life savings and you could end up saving someone's life.
The word tainted here is not used entirely in context, it doesn't directly mean the coins are smeared with illegal activity, it could simply be that the user is privacy conscious ad uses a mixer to avoid traces between wallets or to their real identity, and I should not be forced in this case to inform any agency of my activities, especially as privacy was the main purpose of it.
Avoiding centralized exchanges seems a better option.

I have seen a lot of complaints come in to the "Scam Accusations" section of this forum with users claiming that the casino shut them off but not saying the reality of having sent tainted coins. The casino needs to protect itself and therefore their TnC are valid here. Eventually such threads never get any response from the complainant and die out.
Casinos can choose to protect themselves, but they should not steal users funds, cause they assume it's tainted.
2672  Economy / Economics / Re: Bitcoin adoption by banks - good or bad? on: November 02, 2021, 09:47:55 PM
For some people this is much convenience so its not entirely bad. Imagine that you are telling someone that is over 50 years old to keep their private key safe and store their crypto in cold wallet lol, pretty sure that guy wont understand anything
Private keys can be represented as a recovery phrase, and it's not to difficult to write down a couple of words and keep them in a secure location, if you do not trust yourself to keep that safe, you can store the backed up phrase or hardwallet in a bank vault.

and yeah people are so used to bank keeping 'their money safe' for them so the idea of keeping your own 'money' safe might sounds weird to some people
No one is forced to change that, Bitcoin is an alternative, that was created for those who wanted some form of freedom in their finances. There's no need to use Bitcoin as fiat, when you already have fiat.
2673  Alternate cryptocurrencies / Altcoin Discussion / Re: Surviving For Tomorrow on: November 02, 2021, 09:35:50 PM
making a bunch of your portfolio should be a sure way to survive the crash of some coins on your portfolio knowing fully well not all would do well while some will crash others would produce profit able to cover up the losses
If your portfolio is full of shitcoins, many are more likely to crash than to rise, so even if a couple does spike up in price there would still be a lot that could keep you at a loss.

Diversity is the spice of crypto.
I would rather say, diversity is the spice of investment; and to truly diversify, you should be investing in assets which are not correlated, like bitcoin and gold or stocks in a football club, this way a crash in one has very little effect on another and you can choose the best options from several fields.
2674  Economy / Economics / Re: Bitcoin adoption by banks - good or bad? on: November 02, 2021, 08:43:35 PM
Bitcoin adoption by banks - good or bad?

There's a bit of good, but overall I think it's bad for the network;
• Good, because with more adoption Bitcoin exposure reaches a wider audience getting it closer to going mainstream
• Bad, because it comes at a cost, these new users are exposed to a bank regulated version of Bitcoin, which doesn't function as the original version. A lot of people are already foregoing privacy and anonymity for ease and convenience using centralized exchanges, banks would exacerbate that situation and that could become the new normal.

Such a transition seems inevitable, with the large majority opting to use Bitcoin like fiat while a minority outliers would maintain the qualities that the network possesses, leading to different types of coins; the whitelisted ones which has been regulated by the banks and the darker ones which are still pseudo anonymous.
2675  Other / Beginners & Help / Re: Another (same old) reason to avoid centralized exchanges on: November 02, 2021, 07:38:42 PM
I planned to lock up this thread, now, but there are some interesting replies, so I'll keep it open a bit longer.

You cannot compare centralized exchanges and decentralized exchanges, arguing that one is the decision of the other.
I was not comparing one or the other, only discussing a situation with using an exchange that has full control over your funds. If you noticed, I added an extra note on not storing funds on centralized exchanges for a long time if you really have a need for it that DEXes cannot offer, this includes different types of trades.

Also, liquidity is a direct result of the number of users, one of the reason centralized exchanges has high liquidity is cause more people use it when compared with a DEX.
2676  Bitcoin / Bitcoin Discussion / Re: I have 500 lost Bitcoin - need help on: November 02, 2021, 12:06:52 PM
About 10 years ago, I bought 500 bitcoins, of which I used only 10, meaning that 490 bitcoins remained.
Of course, I know what they are today
You joined the forum over 1 year ago, and obviously knew what bitcoins were since then, but you only now remembered that you had 500 bitcoins over 10 years ago, that seems a bit odd.

If you actually did have that amount of Bitcoin, you would need to know a bit of information to be able to recover your funds, otherwise it would be impossible to recover them.
2677  Other / Beginners & Help / Re: Another (same old) reason to avoid centralized exchanges on: November 01, 2021, 04:14:41 PM
There's a point in storing as much as you're competent to store on your own, a lot of money in an exchange is likely more secure than a lot of money in a Web wallet or even, in some cases, on a desktop one.
Webwallets are generally not a good option to store bitcoins, a desktop wallet is better but still poses a significant risk if the desktop is regularly used.
Also, your account on an exchange is only as secure as you can keep it, if you are not competent to secure your passwords and email, you can still loss your funds.

If people would go more by this and would keep at exchanges only small funds for short time, they would not freak out for every announcement like this. I wish to see those days...
It seems such a day is becoming less likely; more crypto users are getting comfortable using centralized exchanges which takes away the responsibility of building their funds themselves, at the cost of their privacy.
2678  Other / Beginners & Help / Another (same old) reason to avoid centralized exchanges on: November 01, 2021, 03:29:08 PM
Earlier today Binance announced on Twitter that they were disabling Bitcoin withdrawals on their platform due to "backlog", this started a roller coaster ride where it was resumed with a clause that there would be a delay, closed again and finally fully opened back up;


To users of centralized exchanges, this is not major news. Exchanges can limit withdrawals, block accounts etc, for whatever reason they deem fit and one would be prevented from using their funds deposited there.
In the spirit of customer satisfaction exchanges try to avoid doing those often, but it's still a major issue, along with how personal information can be misused or stolen.

Not your keys, Not your coins!
Bitcoin was designed so no third party would have any sort of control over your funds and it operates without an intermediary.
The best solution would be to use actual non KYC exchanges which are decentralized, or if you already use a centralized exchange: do not store funds there, only pass them through (deposits and withdrawals).
2679  Other / Meta / Re: LETTER OF APPEAL FOR PERMANENT BAN LIFT on: November 01, 2021, 02:57:43 PM
Have you sent an email to the address provided in the ban message? That's one of the quickest ways to alert the mods to your case along with an appeal thread like this one.

I've noticed you around the forum and while you post with a lot of copy pasted works, you didn't seem to  do it with malicious intent and was not on a signature, IIRC. It's up to the mods to decide whether to unban you account.
2680  Other / Meta / Re: Cheaters Hunters vs Spam Busters on: November 01, 2021, 05:23:53 AM
    So far I've noticed that there are quite a number of forum users interested in becoming a cheater hunter as opposed to a spam buster.
    As you said, a spam buster mostly works behind the scenes reporting posts to the mods for them to take action, while in cheating they would need to publicly post for the campaign manager to become aware; So you cannot notice which members of the forum are more involved in.

    • Be a cheater hunter, you will get more merit, have the opportunity to become a DT and you get the trust of many forum users and you will get your rank faster.
    • Be a spam buster, even though you work behind the scenes but your contribution is really needed by the forum to keep it clean. You will find it difficult to get many merit if you do not want to expose your work in public. You still need to be a quality poster to get merit and rank up. You have to put in a lot of effort to earn the trust of this community. It will be less likely to be appointed as a DT.
    • I do not think anyone would get merits simply cause of the work they do in the forum, Sure you can get a couple but as a strategy to rank up, you would still need to be a decent poster.
    • That's why theymos suggested the reporter badges and posted the top reporters over the last year; to recognize those who work to keep the forum clean, they also have the opportunity to be appointed as moderators.
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