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July 04, 2024, 04:46:27 AM *
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281  Economy / Economics / Re: Economy pressure on: February 16, 2024, 08:52:01 AM
Inflation is one of the worst diseases of the economy because of its direct impact on the middle and poor classes instead of the rich classes, and because the poor do not have assets but mostly liabilities and expenses, inflation will be very bad for members of this class.

People from Nigeria may give you better details, but you must know the cause of inflation in order to find the appropriate treatment. Is inflation in your country due to money printing, or due to an imbalance in exports and imports, or due to external influences? Then improving your skills to find a better job while investing any amount you have in food storage. Reducing any unnecessary expenses will help you greatly in reducing the effects of inflation.
282  Economy / Trading Discussion / Re: Spot Crypto vs. Forex: Choosing Your Path to Prosperity on: February 16, 2024, 08:29:13 AM
Forex trading is not profitable,
meanwhile experience traders used small lot or leverage to trade for instance trading with 0.5% of $50K per trade to earn x2 or x3 profit per trade is a very good money management technique unfortunately many newbies traders never learn how to manage their trades even with a working trading strategy instead they would trade with a very high leverage and ended up losing their account.
Anyone who can open $50K per trade can definitely realize that a small continuous profit is much better than a quick, unguaranteed profit because it is possible to lose the money you earned with your effort.

newbie Forex traders have $100 or $1,000 and want to convert it into $10,000 quickly. This may result in them losing all of it, which means that they will return again next month and try to repeat the same thing. What happens is closer to gambling than trading.

Forex trading, with leverage, becomes more risky than long-term investment in Bitcoin, despite everything that financial analysts tell you about the risk of investing in Bitcoin.
283  Economy / Economics / Re: El Salvador's success? on: February 16, 2024, 08:03:57 AM
The topic has turned to be more political than economics, but by looking at Maslow's hierarchy of needs, you will find that the human need for safety, food and drink takes precedence over human rights and even the individual's right to life. Therefore, you cannot tell citizens who are suffering from gangs stealing and seizing their money that they must adhere to human rights. And not demanding that the government do everything necessary to provide basic needs.


I do not know what is happening in El Salvador, but if that is what happened, it is natural to understand why Nayib Bukele was re-elected.
284  Bitcoin / Electrum / Re: Lost 12-word seed, got good hints on: February 16, 2024, 07:56:08 AM
So I've lost my 12-word seed but I still know the first letter of each word. 
Can I make a script trying all possible combinations and recover my seed in a reasonable amount of time?
You only need the first 4 letters of a BIP39 wallet seed to be able to recover your coins safely.

It is impossible to know the correct wallet seed by knowing one letter, but knowing more words will reduce the search time, so try to remember more wrods by searching for the first letter using https://github .com/bitcoin/bips/blob/master/bip-0039/bip-0039-wordlists.md

If you succeed in remembering 9 words, you will be left with (2048^3)/2, and after that you can use https://github.com/gurnec/btcrecover/blob/master/docs/Seedrecover_Quick_Start_Guide.md if you do not remember the correct words.
285  Economy / Reputation / Re: Which campaign has the most spammers? on: February 16, 2024, 07:38:07 AM
Such topics may increase rivalry among forum members, as the signature campaign with the largest number of spammers means that all its participants are bad and that the campaign manager is lazy.

Merit system was invented to be a solution to the spam problem. Therefore, if you are not accepted into a signature campaign while you follow all the campaign rules, this does not mean that there is a problem with your account. Perhaps there are better members than you, or the campaign manager sees that you are publishing in sections far from the goal of the campaign.

Make sure you read the campaign rules, and if the campaign manager does not prohibit PMing him, you can ask him in private.
286  Alternate cryptocurrencies / Altcoin Discussion / Re: My wealth plan in the next 3 years from today on: February 15, 2024, 03:30:16 PM
If Bitcoin is now largely linked to Wall Street, then TRON is linked to zero value and will reach it if USDT or USDC decides to stop using that blockchain, as the main reason for the value of the TRON blockchain comes from USDT transactions.

I advise you to think again about your investment and instead of buying more tron, at least buy Matic, as the fees on tron are high and users will consider a USDT blockchain with lower fees.
I advise you to rethink investing in Bitcoin, as linking it to the stock market and the SP500 is not supported by arguments and evidence.
287  Bitcoin / Project Development / Re: A decentralized marketplace for high-value physical assets exchanges. on: February 15, 2024, 03:24:20 PM
Searching for investors or the private sector is different from academic research, as mentioning the names of universities or future ideas without asking what will benefit the investor and the return on investment will be meaningless.
Explain your idea commercially, market your idea, the required amount, expected return, and hosting for the site so it can be tested and a roadmap for the next 18 months.


I read the white paper and it speaks theoretically and is closer to a questionnaire than a practical implementation of a project.
The date of publication is November 2022, and we are in 2024, and it is imperative to include what you did last year.
288  Bitcoin / Bitcoin Discussion / Re: The Importance of Consolidation, Especially with Dollar-Cost Averaging (DCA) on: February 15, 2024, 02:41:09 PM
Excellent advice and may help save some fees for beginners, but due to dollar-cost averaging (DCA), sales are one or two times, and unlike purchases, merging your transactions will not help you much, and the problem remains if you buy Bitcoin on a daily or weekly basis. Withdrawal fees are enough to erase 20% of your profits, so dollar-cost averaging (DCA) is not considered a good strategy in the case of high fees, or you may resort to compromise solutions such as leaving your bitcoin on echange for a longer with all the risks that result from that.
289  Economy / Trading Discussion / Re: Spot Crypto vs. Forex: Choosing Your Path to Prosperity on: February 15, 2024, 02:32:14 PM
I don't think that forex trading is like gambling, it's just that this type of trading traders will not survive or make a profit if their trading skills are very minimal, that's why many forex exchanges provide demo accounts so that new traders can start by first learning this type of trading before directly making a deposit, so it will be like gambling when starting without proper knowledge
Forex trading is not profitable, as if you buy the dollar or the yen and wait for political changes to occur and you buy and sell, the profit margin will not exceed 5%, but in Forex trading, leverage and margin are used, which makes the possibility of winning 20% much easier, but the financial leverage will make it easier to lose your money, so it is done. Warning traders about leverages of x10 or more so there are demo accounts for those who want to learn. using leverage without knowledge is like gambling because it means losing your money quickly.
290  Economy / Web Wallets / Re: Is rabbit.io is the best way to swap crypto on: February 15, 2024, 05:00:00 AM
Their terms of use show that they do not provide custodial services, which means that if there is a problem, you may be redirected to a third party who may require Kyc and they have some age-related conditions.

https://swap.rabbit.io/terms-of-use

In addition, on top of their ToS it's also stated you need to consent to third-party called SwapSpace.
And when i check SwapSpace ToS, it state about KYC on certain cases.


It was up there and I didn't notice it. I searched for SwapSpace.co and guess what I found, they have a topic here on the forum.

https://bitcointalk.org/index.php?topic=5221659.0

Changelly, ChangeNOW, and businesses associated with Evercode Lab, do not have a good reputation and many people will definitely not like using them to exchange, especially with many scam cases present in the forum.

So it is a web-based wallet using Evercode Lab aka Changelly for exchange.

At the moment, we work with six exchangers including Changelly, ChangeNOW, StealthEX, SimpleSwap, Godex, and InstaSwap. Our API is almost ready, so we have scheduled to integrate the major exchanges and crypto wallets and already have some arrangements for the future. We are working on the website design, too.

291  Economy / Service Announcements / Re: Coinsellor — Exchange your cryptocurrency without any fees on: February 14, 2024, 02:49:37 AM
Year 2018, the domain was up for sale: https://web.archive.org/web/20180804213316/https://www.coinsellor.com/
Year 2021, something completely different from their current exchange: https://web.archive.org/web/20211227070135/https://www.coinsellor.com/  Cheesy
Services that make big promises like Exchange your cryptocurrency without any fees often end up scamming investors so they can be used as a way to avoid using them.
The UI is bad, at the bottom they indicate that they are from Warsaw, Poland but the registration data points to another place, there is no reason to believe that this is a service worth trying if it is not a scam.
292  Economy / Web Wallets / Re: Is rabbit.io is the best way to swap crypto on: February 14, 2024, 02:21:27 AM
Yes, i understand and know that it is a new wallet and for that reason, i posted here to find the reviews about it. My question was that since it is an open source, if there was any scam attempt in the code, it must have been discovered by now or maybe in the very near future. If nothing bad is discovered, will it be good to use?
Not necessarily. Reviews are what will determine whether it is a good service or not. If there are not enough reviews, even open source projects can work for months or even years without fraud being detected. Therefore, with regard to wallets, it is best to avoid any new wallet, even if it is Open source.


I'm most interested in Rabbit Swap, which looks like a search algorithm to determine the ideal liquidity source and compare the result swap.rabbit.io/create?from=BTC&to=USDTTRC20 with, say, https://www.bestchange.com/bitcoin-to-tether-trc20.html. I see that I can get better exchange rates on some third party services.

Their terms of use show that they do not provide custodial services, which means that if there is a problem, you may be redirected to a third party who may require Kyc and they have some age-related conditions.

https://swap.rabbit.io/terms-of-use

293  Bitcoin / Bitcoin Discussion / Re: BTC to Bitcoin ETFs - The ownership are shifting to centralized ownership on: February 14, 2024, 02:01:43 AM
For many, Bitcoin is an investment, and they do not even want to read about the basics of Bitcoin and how to set up a wallet correctly. Some even leave their money in central services or closed-source, disreputable wallets such as freewallet. For them, investing through an ETF is much better than wasting their currencies to them. Scammers, but if you are thinking beyond investment, then surely the only real Bitcoin is the one that you (alone and no one else) has its private key.
294  Bitcoin / Bitcoin Discussion / Re: When will Bitcoin catch up with Gold in capitalization? on: February 14, 2024, 01:51:46 AM
Nothing will change if Bitcoin exceeds gold in terms of market capacity. Some markets are worth more than gold. However, gold will exist, Bitcoin will exist, and the stock market will exist. Bitcoin and gold are two assets that are not related to each other, which means that it is good to invest in Bitcoin and gold to diversify your investment portfolio and Bitcoin will not be a competitor to gold, or if Bitcoin surpasses gold, everyone will abandon gold and invest in Bitcoin.

The assumption that Bitcoin will overtake gold at a price of ~$650k is not correct. With current inflation, the year 2037 will be completely different from 2024, and the value of ~$650k will be completely different from its value in 2037.
295  Economy / Exchanges / Re: Could protection funds restore investors confidence back to CEX? on: February 14, 2024, 01:10:10 AM
let alone crypto exchanges that have an anonymous registration license. In which the team achieves maximum profit with a low legal limit and uses customer funds to secure customer funds because it is impossible for Binance to freeze 500k Bitcoins to ensure that customers can withdraw their funds whenever they want, even if the cold storage has been hacked.
These revenue could be reinvested in BTC, ETH or USDT like in the case of Bitget and as price of the affect assets increases so will the value of the protection fund.

As for the license; we have seen how some exchanges have been restricted from certain regions; this may contradict your opinion tho, I feel as we evolve centralized exchanges may be fully institutionalized.
The costs of managing services such as Bitget are thousands of dollars per day, as trading servers require very expensive resources, in addition to the need to provide liquidity, advertisements, and the integrity of the team in the absence of misuse of profits. All of these make the platform’s profits small compared to deposits, and it is impossible for these platforms to be able to guarantee depositors’ funds.

You are promoting Bitget, so I ask you: Can Bitget create a highly regulated fund that is monitored by several entities and auditing companies that guarantees only 20% of the total deposits, so that when any user deposits any amount, 20% of its value is deposited in that fund to guarantee the return of the money? I doubt that Binance SAFU cannot do this despite all the liquidity they have.
296  Economy / Trading Discussion / Re: Similar but not same 🤔 on: February 14, 2024, 12:58:23 AM
You need to know the basics of Bitcoin, including creating a wallet, keeping seeds, cold storage, buying Bitcoin from platforms and keeping it until the middle of next year and selling it by next June. Thus, you will have achieved a long-term investment with a good return.

During this period, learn more about trading, as trading will be easier and more profitable in the coming months. To learn trading, you need to know the basics of trading, including support and resistance points, moving averages, and Fibonacci analyses.

Start trading using a demo account, which enables you to learn without buying Bitcoin, and when you have experience, start trading with your money.

The necessary links you may need are compiled by JAMESON LOPP https://www.lopp.net/bitcoin-information.html
297  Economy / Scam Accusations / Re: is bityc.net scam? on: February 14, 2024, 12:13:49 AM
Yes, it is a scam, and he did not win $30,000. It is a number in their database and it can be made to $30 million, but you cannot withdraw it. their request to send it to the Binance account is considered confirmation of the scam. Report the site and the account number to the Binance support team to ban it.

I looked the website up on the net and there were a lot of shaddy reviews. So I tried using a quite trusted scam checker and I got this;
Such tools can be easily manipulated, so do not trust them whether the service is a scam or not. The scammer can buy an old domain, write fake reviews, set up the site well to easily improve its score. They are only useful in lazy cases of fraud that can be detected with minimal effort.
298  Economy / Trading Discussion / Re: Can you make everybody to win in their crypto trading? on: February 14, 2024, 12:01:16 AM
A trader cannot profit in all the trades he creates, but this does not mean that trading is something that exposes you to losses, as out of a total of 10 trades, you must have 6 or 7 that achieved profits, otherwise you have to reconsider your trading plan.

What I have proposed here is incomprehensible. This is not trading, but rather shorting in futures contracts. If this is true, it is wrong to do it in a rising market because the chances of the price rising are much higher than its falling, and even on the short level, price correction is always around support points and rarely occurs. It would be very bad, but if your intention is to sell now in the hope that the price will decrease in the future, then this is a long-term investment rather than trading.
299  Economy / Exchanges / Re: Could protection funds restore investors confidence back to CEX? on: February 13, 2024, 03:17:38 AM
Government corporation like the FDIC cannot say that your money is 100% insured for all deposits. There are certain limits or ceilings for deposits, and with a highly regulated environment (banks,) your money is supposed to be safe, but this does not happen, let alone crypto exchanges that have an anonymous registration license. In which the team achieves maximum profit with a low legal limit and uses customer funds to secure customer funds because it is impossible for Binance to freeze 500k Bitcoins to ensure that customers can withdraw their funds whenever they want, even if the cold storage has been hacked.
300  Economy / Economics / Re: Food security might not be a priority for younger generations. (2) on: February 13, 2024, 03:00:18 AM
Bitcoin and cryptocurrencies are considered a high-risk investment, and no one with experience in the market will advise you to put all your money in such an investment, but to invest money that you do not need and a certain percentage in Bitcoin. If you can save $500 a month, then investing $300 in Bitcoin will be good. Bitcoin is considered an investment, so at the end of this investment it will be converted into liquidity and used either to buy a property, a car, or a production/service project. a wise investment in Bitcoin will inevitably lead to positive results on the individual level and vice versa.

There will be an increasing demand for the agricultural and food sectors, and increasing prices and profits will encourage supply, so the effect of Bitcoin will be positive if you invest intelligently.
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