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2821  Bitcoin / Development & Technical Discussion / Re: Can a transaction be bigger than a block. on: September 01, 2021, 10:19:10 PM
It should theoretically be possible for a transaction size to exceed the block size. But the block size should be large enough to accommodate any regular transaction, so this situation hasn't been encountered (AFAIK).

If this were ever to happen, the transaction would be invalid as the blocksize can not adjust to accommodate it; The sender would have to make some changes to reduce the size.
2822  Bitcoin / Bitcoin Discussion / Re: Crypto P2P Scam on: September 01, 2021, 09:50:44 PM
If you are going to enter into financial dealings with a complete stranger on the internet, without much investigations, then you're almost certain to be scammed.
View eerything as a scam until proven otherwise, this would create the need to prove it to not be, before you can get involved.

Suggestion: Don't do trade for 3rd person. Only send bitcoin to the person who send you payment in your account.
Also, always use a trusted escrow when you do not trust the other party

A person(probably Nigerian) contacted me from an international number using watsapp on my cell
Is there any particular reason you think this person is a Nigerian? You sounded unsure here, but went on to call them by that nationality about 3 more times.
2823  Other / Meta / Re: Forum ads auction rules on: September 01, 2021, 07:51:34 PM
Imagine being able to promote scams anywhere on the forum except the banners
That's the reality of the forum and I still believe it's the best approach for 2 reasons
• The forum is incapable of effectively moderating scams, attempting to handle something you can't effectively do would create lots of loop holes that would be easily exploited and the unsuspecting members who expect to be protected would fall victim.
Consider the 1xbit auction bid, theymos would normally not allow a scam campaign to be posted in banners, but was not aware of it and accepted their bid.
Better to put up warnings for members of possible scams, than giving a faux sense of security.

• Secondly, Bitcoin is a decentralized network and each person involved in it act as their own banks. This forum which is for bitcoin discussions should ideally be designed the same way, you are responsible for your security.
This is probably why a lot of the scam warnings are newbie directed as they are still getting acquainted with how the network/forum works.
2824  Other / Beginners & Help / Re: Bitcoin URI Protocol Scheme on: August 31, 2021, 09:53:42 PM
I'm curious on something about this URL. Would it modify the settings on my own wallet? For example, if I set my default denomination to mBTC and someone create a transaction in BTC, would it readjust on my end, or remain as mBTC?

Better for newbies to manually fill the transaction details and carefully re-check those info before sign to broadcast .
It's actually better for everyone to manually fill the details and double check (and double check again) before clicking send. Scanning QR codes make the process much easier and the rest isn't much of a hassle.
2825  Other / Meta / Re: I found a strange happening on this thread on: August 31, 2021, 09:26:33 PM
Hero Member = 500 merit airdrop
You are correct. I will just add that theymos after the launch of the merit system made some tweaks, which gave some hero members an additional 500 merits, making it 1000 in total.
2826  Local / Nigeria (Naija) / Re: Nigeria Local Board, All board discussion welcomed. {No Official Language} on: August 31, 2021, 09:08:44 PM
Main board: Naija crypto discussion (which can comprise of all news related to crypto and naija discussion

Childboard: economics, naija vibes, music, sport, politics and legal
Any board we are requesting must be similar or exactly the same as boards represented in the main forum.
Sports, vibes, music etc are all off topic discussions and 1 off topic board would cover them.
I believe crypto discuss should be split into 2, as it is in the main forum, Bitcoin discussion and Altcoin discussion.
Politics is a recurring topic of debate on this thread and would make an interesting child board as well.
2827  Other / Beginners & Help / Re: Who sets the price for crypto currency? on: August 31, 2021, 05:43:46 PM
Can I conclude that the Exchange software is setting the price?
No. As mentioned above, exchanges link buyers to sellers, and the exchange price is determined by the price of the last sale of that currency. There are bids (amount traders want to pay to buy) and asks (amount traders want to sell for), none of them is determined by the exchange.

Of course, the price is set based on the demand/supply but that software takes care that in case a whale will buy a coin (as example), the price will not stay unchanged.
Can you explain more what you mean by this question? Transactions have a momentary impact on the overall price, up until the next one. Reason why market manipulation is a huge risk as the market can simply adjuf to the previous price range after a huge dump from a whale.
2828  Economy / Trading Discussion / Re: How To Go About Crypto Trading For Newbies. on: August 31, 2021, 01:38:02 PM
Quote
How To Go About Crypto Trading For Newbies.
Maybe newbies should not be trading.
Don't get me wrong, I understand that no one becomes perfect before their first trial, but you should be adequately prepared and know all or most of the theoretical aspect before venturing into the actual practice of trading.

• YouTube and course websites have lots of content for traders,
• There is also a trading discussion board here in the forum, look for useful tools that will be useful on your trading journey.
• Practice demo trading to get an idea of how trading is,
• Prepare yourself mentally
2829  Local / Nigeria (Naija) / Re: Nigeria Local Board, All board discussion welcomed. {No Official Language} on: August 31, 2021, 11:23:16 AM
<snip>
Great suggestions.
Firstly, AFAIK, anyone can bump a thread as far as they do not abuse the system.

About suggested boards, you also suggested good options, but I think it would depend hugely on wetin the administration think. If they one open the board without moderators then creating different child boards may be a bit much to manage, especially as other staffs no go understand pidgin English which would be accepted. In such case, a general 'everything goes' board would be preferable.

But, of course we need to already have our proposition which the admins can accept or reject, and on that note, I'm in agreement with your suggestions.
2830  Other / Meta / Re: Forum ads auction rules on: August 31, 2021, 10:35:25 AM
Their sig campaign and review threads seem to be doing "well" though. Members of all ranks sacrificing their ratings for them ka-ching
This really comes as no surprise. No matter how shady a website is, they will find users shady enough to advertise their scams, especially if the campaign protects them against the repercussions of thier actions. Some accounts are already too low in reputation to be accepted in most other campaigns, one which offers such high rates is a steal.

The review thread on the other hand has users honestly giving their own reviews, good or bad. No one would be red trusted for participating in that, except maybe 1xbit hires suck puppets to flood the thread and try to dry clean their image.
2831  Economy / Economics / Re: Bitcoin assets cannot be blocked - is that helping terrorists? on: August 31, 2021, 04:35:16 AM
It seems that not everything is good in self-sovereignty?
There is no system that is 100% perfect and Bitcoin does not aim to be. However on the issue of self sovereignty, who should be given the moral and legal justification to control the finances of others? And what earned then that liberty?

Banks were created cause keeping money under your bed was not feasible, but with the bank and state being virtually inseparable, how does one limit the influence of the government in their finances and do they need to? I'll answer, Yes. The level of government interference should be kept at a certain level as they have long used it as a tool to control the populace.

Fiat currencies is still the most common means of funding terrorism and scams, so there's already an existing problem there, Bitcoin beinbmore like fiat would not solve that.
2832  Other / Beginners & Help / Re: Can bitcoin exist without fiat on: August 30, 2021, 08:26:28 PM
This opens up a big discussion. If it's separate from fiat, then why do we measure bitcoins in dollars, euros, yen and not the opposite? We could do both, but we would never measure a dollar in sats.
We do this probably because fiat currencies are already the staple means of exchange and every other thing is valued against it. Cars, gold, houses, stocks are all priced against fiat. This does not mean any of these assets cannot be valued against each other, stocks can be sold for gold and houses for Bitcoin, they are not just popular enough or scalable enough to be used daily for all transactions as yet. In the future Bitcoin could be valued against something else, or other assets valued against it.

To answer the OP's title, I personally think that it can't work without fiat existence,
Not yet.
2833  Economy / Gambling / Re: Need to contact Daniel of Bustabit on: August 30, 2021, 04:07:19 PM
Verify that this is the user you wish to contact and I'll drop him a PM for you - https://bitcointalk.org/index.php?action=profile;u=935622
The user has not been active for a month now and it's unlikely a PM would do much to get their attention, you may have to find some other alternatives to reach them should a message here not work.

Quoting their actual username could help, if they have a notification script on.
2834  Economy / Economics / Re: Bullish or nuts? Fidelity predicts $100M bitcoin in 2035 on: August 30, 2021, 07:59:31 AM
That link doesn't work for me for some reason.  But in any case, that's one man's opinion, not Fidelity's official statement on bitcoin (or at least that's what it appears to be).  I don't see anything about mining in that statement either, and I doubt Fidelity does any mining themselves.  That would be a bit strange.
This is a better link - https://qz.com/990229/one-of-the-worlds-largest-financial-services-firms-is-mining-bitcoins/
And here's a quote from the article about their mining activities.
Quote
One of Fidelity’s projects is mining bitcoin and ethereum, which Johnson said was started for educational purposes, but now turns a tidy profit. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money,” she said

Also, the quote was taken from a Chief Executive in the company who should have inside information.
2835  Other / Beginners & Help / Re: Think twice before making a post on: August 29, 2021, 09:33:21 PM
Can my post give good ideas to members of the forum and if what is about to be written is necessary in the forum.
Another important factor to consider when making a post is whether or not that information has been shared before.
• If you're starting a new topic, use the SEARCH option at the top icons above and search for previous posts with the same theme,
• If you're replying to a thread, read through the previous replies and ensure you're not repeating the content others have already shared.
2836  Economy / Speculation / Re: Seriously. How much market cap can Bitcoin absorb from other assets? on: August 29, 2021, 07:03:08 PM
Bitcoin is still about 12 years old, which is relatively small compared to many other financial assets. We can speculate all we want on the future price of Bitcoin, how much market cap it can absorb, or how it would become the one world currency, but that doesn't really matter.

For me, all that matters at this point in the growth of the network, is the next full node that goes live, or the next holder to trust verify the network, or the next merchant to accept bitcoin, or the next country to legalize it, or the next BIP which is implemented.

Bitcoin is a lot more than the dollar equivalent.
2837  Economy / Economics / Re: Bullish or nuts? Fidelity predicts $100M bitcoin in 2035 on: August 29, 2021, 06:52:17 PM
I don't know what to think anymore...
Public sentiment about Bitcoin or any investment shouldn't be that important to you except for trading purposes. Opinions are borne from personal interest and that changes at a heart beat. A company would change their position about Bitcoin if that position favours them and their interest would possibly not favour you:
• Always have your own opinion,
• Study the fundamentals,
• Do Your Own Research,
• Take all other opinions with a pinch of salt.
OP, what is it you said about Fidelity mining bitcoin?  Is that true?  I never heard anything about that (or don't remember).  It seems odd to me that a brokerage would be mining any cryptocurrency--but it's a strange new world we're living in.  
I came across the news sometime this year or last, it was one of their executives who was quoted to have said that, they started mining Bitcoin experimentally very early on. Here's one link I could find;
The company is testing the Coinbase holdings integration with its employees, Johnson said. “I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds,” Johnson said at a blockchain conference called Consensus in New York City.
2838  Other / Meta / Re: What is your favorite post or most memorable moment on this forum? on: August 28, 2021, 11:05:08 PM
There are lots of threads and replies which are very memorable for me, probably too numerous too count, I'll try to recount the few I can, and probably add more later on;

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
This is one of my favorite quotes from Satoshi. It may not be the exact message he was trying to pass, but it fits with people that try to criticize Bitcoin with points that are non existent.

This thread; (SSS) - A Sane and Simple Bitcoin Saving Plan. It contains lots of useful investment advice that I found very useful
2839  Local / Nigeria (Naija) / Re: Nigeria Local Board, All board discussion welcomed. {No Official Language} on: August 28, 2021, 01:27:33 PM
Nigerians should avoid such high yield return investment that will result to scam, many Nigerians have lost to ponzi and pyramidal scheme, there are still many coming up, but we should all avoid them all if we do not want to be a scam victim. These links below show how Ponzi scheme in Nigeria resulted to scam.
The issue be say this higher rate of Ponzi and pyramidal schemes them, don make plenty Nigerians become very cautious, to the extent say them no sabi differentiate legit ones from scam. I don stand up talk about Bitcoin for different gatherings, with some people wey dey talk say cryptocurrency na scam, even for school environment.
This ignorance they hold back some people from getting into it fully, as government come dey against am, that one make am worse.

Lack of person wey go teach them nah another problem as lots of people dey out to scam you. Some wan invest sef but no sabi how to buy and sell, and they fit lose their money to scammers in the end.
2840  Other / Meta / Re: Is there any changes with posts activity count? on: August 28, 2021, 05:55:43 AM
Activity is to show how active a user is.
It increases per each activity period ~ 14 days, and you have to make at least one post per period to be eligible for the activity, any period you fail to post, you will miss the activity count for that period.

If one makes 100 posts in a day, the activity would not just keep increasing to meet up with that 100 in the subsequent periods; Take a look at Satoshi's account, who hasn't posted in a while, his activity would not increase to meet post count, except he resumes posting regularly.
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