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2881  Bitcoin / Bitcoin Discussion / Re: Crypto market capitalization now well under $1T on: June 13, 2022, 07:39:15 PM
Do not be surprised if you see even only bitcoin marketcap at $5 trillion before the next 10 years. This bear market is expected and not new as it has happened before like in 2018, but the end result would still be bull market that will later skyrocket bitcoin again to all-time-high. Just be patient for you to see this to become reality.
2882  Economy / Gambling discussion / Re: The Most Expensive Thing Bought with Winnings from the Casino or Sport Bet on: June 13, 2022, 06:16:28 PM
What is the most expensive thing you've bought with your winnings from a casino or sports bet that you've never used or used only a few times or even maybe regretted buying?
There is none, I just know that I use the money I won in gambling for fun. If I win, I use it for the weekend fun, if not enough, I add more money to it to have the fun, that is because sometimes, the money will not be enough, the money I do win is usually little and I am not expecting much because I use the amount I can be able to lose to bet. The money won can not buy me anything than to just use it for fun or to play next weekend match.
2883  Other / Beginners & Help / Re: Less FOMO more Buying on: June 13, 2022, 12:59:21 PM
Bitcoin can never become too expensive if you can still be able to buy $50, even if bitcoin is worth $1 million, it is never too expensive as you do not need to buy a whole 1 BTC.

This time is getting more exciting for people that have not bought bitcoin before, to buy at lower price. No one knows what could be the lowest price of bitcoin in this bear time, but who is holding and losing already should not sell, because bitcoin will still later increase and people that thought they are losing will later profit from their bitcoin holding.

What I will just say is that people that do not know the appropriate way and time to invest in bitcoin should make more research about it before investing. Bitcoin investment is profitable than some people think if they can make research and be patient when there is need to be patient and buy at the right time.
2884  Bitcoin / Bitcoin Discussion / Re: Newbies: Don't panic and learn to hold on: June 13, 2022, 11:00:41 AM
People should not panic and sell during this bear time is my advice, we can see institutions like Microstrategy, countries like El Salvador, they are not all selling, they have the long term mind set and it will favour time in the next bull runs.

My idea is a Bitcoin holder does not need to panic if they had an investment plan when getting in.
I will say so too because it is true, bitcoin holders do not have to panic, the market can fall but later it will rise.

What pushes one to panic sell or cut their losses is when they invested more that they can afford to lose and with the current drop they saw their savings getting wiped out on the charts.
That is trading and anyone that is gambling with altcoins, or if someone is ignorant of investment strategy before investing in bitcoin. Bitcoin investors should know that they will recover their losses but it can take one, two or more years.
2885  Other / Beginners & Help / Re: First Post here: I hope this forum reignite my interest in bitcoin on: June 13, 2022, 07:05:09 AM
Have you read Newbies - Read before posting. From there, you will be able to read the rules and also read about merit and activities. Know that a forum is not a place to spam. This forum is not a place to scam. Avoid plagiarism and other things that can put your account in trouble, that might even lead to ban. Stay, read what people are posting, contribute, ask question when necessary and enjoy being here.
2886  Economy / Gambling discussion / Re: Why is it so hard to win at gambling? on: June 13, 2022, 05:36:37 AM
That is why it is good to gamble responsibly, to never be addicted and to used just the amount of money you can afford to lose. Gambling should be fun, gambling companies are always making profit but gambling responsibly will be helpful for gamblers. Some people just play with low amount and not gambling often, even if they lose, they do not mind and they are not affected or emotional about it but just see it as nothing but another time to play and expecting either to win or lose. Anyone that bet, lose and is emotionally affected should cut his betting amount he is using to stake to avoid the negative impact of gambling.
2887  Economy / Gambling discussion / Re: Do You Think Its One Too Many on: June 12, 2022, 02:20:51 PM
This is how I see it. If a gambling site is reputable on this forum and one of its users come up here with an accusation in a way the betting site wants to scam or cheat him, I think this would be resolved by the casino site because the gambling site will not want to lose its reputation. If the scam is legit and proven true, people that rated the site positive will likely change it to negative if the case is not resolved in favour of the victim.
2888  Economy / Gambling discussion / Re: taking out a loan for a sports bet on: June 11, 2022, 10:56:34 PM
Definitely think twice before taking loan, there is no 100% fixed match and you can lose more than what you can afford to lose. What if, you take a loan and placed sports bet then it loses? Well, you have to pay back whatever amount you borrowed and it will be stressful day unless you are able to pay back soon. Just my 2 cents.
Exactly. Ask for a loan it is never a good idea. Banks are not stupid and you should put your home or something with high value as collateral, and you can risk to lose it for a match that you're also sure that is not fixed at 100%.
Even this could not be about if a match is fixed or not, going for loan to bet is stupidity. It is just a sign of addiction.

So, consider what are you doing, and think about. Less gains sometimes means also more safety.
I do not believe in less gain if going for low odds is what you mean, it is even dangerous at time and there are different strategies used for different matches. I have gone for low odds all to know that it is riskier than high odds because the profit made is less and before you will make the profit for high odd, the money could have been lost.
2889  Economy / Gambling discussion / Re: Slots is More Likely to Cause Gambling Problem on: June 11, 2022, 09:18:21 AM
I think you somehow deviated from the point that OP mentioned.

While sports gambling can be addictive, slots can be associated with more addiction due to its very simple nature and convenience on the player's end. In addition, slots are designed in order to trick the brain into winning the whole jackpot since they show figures that a player can potentially receive.

While complete data is provided (like OP mentioned) to show that the odds of winning a slot machine jackpot is so low, people still opt to choose this kind of gambling method. I hope the government creates some sort of regulation or at least provide more disclaimers about slot machines in order to avoid addiction more.
Not deviating from what OP post is what is more important, this should be more about what is practical. As far as I know, people are addicted in gambling in general, be it any gambling type they choose. In the environment that I live, most addictions are from sport because people in my area like betting on sport most and very well, especially football. You like it or not, if someone do not discipline himself or herself, the person will likely be addicted to any gambling type, I do not know why only empathizing on slot when in real life, all other types can be addictive.
2890  Economy / Economics / Re: Global bitcoin adoption to hit 10% by 2030: Blockware report on: June 11, 2022, 09:00:28 AM
People like to use crypto for bitcoin, this thread is about bitcoin but some people truned using crypto instead. Bitcoin is different and unlike most other cryptocurrencies that have not utility.

we can't expect that people will easily convert to being 100% crypto user, because even long time crypto users still need fiat money to live with their everyday lives. only few people can live with btc or crypto alone. and that is a dedication for them, to find merchants and entities that are only accepting crypto.
The purpose for bitcoin is not to replace but to be an alternative to fiat, j always see it absurd for people to want people to move away from fiat and move towards bitcoin, that will only result to government making all possibleobes to defend their local currencies, bnut bitcoin is never like that, it is seen more as an investment.
2891  Economy / Economics / Global bitcoin adoption to hit 10% by 2030: Blockware report on: June 10, 2022, 02:28:36 PM
Global bitcoin adoption to hit 10% by 2030: Blockware report

I am surprised to see that bitcoin adoption is not yet up to 10% of the world's population. See the blue arrow, where we are in 2022, very not close even to 5% of the world adoption. With bitcoin presently at $30000 and having over $500 billion marketcap, I thought the world's adoption would have been more, but not, but an opportunity for people to buy bitcoin.


Quote
“With Bitcoin direct financially incentivized adoption creates a game theory in which everyone’s best response is to adopt Bitcoin.”

Bitcoin, like the internet, smartphones, and social media, also derives benefits the more people that adopt the technology, which is known as the “network effect”.

“Case in point if you were the only user on Twitter would it be of any value? It would not. More users make these technologies more valuable.”

However, the authors of the Blockware report stressed that the model used to predict the rate of adoption was only conceptual at this stage, adding it is neither meant to be used as investment advice nor a short-term trading tool and it would continue to be refined. However:

“The general trend is clear; there is a high probability that Bitcoin’s global adoption will grow significantly into the future and thus so will price.”

Although, this is said to be conceptual but adoption is what most likely will occur. Some people will be saying it is too late to buy bitcoin, just like some.people said in 2014 when bitcoin price was at $1200 or below, some people also said so in 2017 when bitcoin reached $19600, some people said so when bitcoin price reached $68900 in 2021. Following bear markets and then rise again and reach all-time-high. The probability that six digit is possible in the next long lasting bull run is very high. No one is late to make the continuity of the adoption possible.
2892  Bitcoin / Electrum / Re: How to decrypt electrum wallet encrypted file backup? on: June 10, 2022, 12:02:25 PM
What's wrong with using Electrum itself? After all the software creates the wallet and encrypt/decrypt it itself and it is the best option to use instead of some third party application that may be buggy in best case scenario or malicious in worse.

You can remove the file's password inside Electrum by going to Wallet > Password option from menu and then entering your password and leaving the other two boxes empty.
Otherwise it is trivial to look at the source code and write something that decrypts wallet files using AES.
I used this method for the unencrypted means to backup the file. But what about if I backup the wallet encrypted and my laptop is damaged and I want to recover through encrypted backup file. Is it possible to buy another laptop, recover the private keys from the encrypted file backup if I download electrum on the new electrum wallet downloaded on new laptop?

Though I will have my seed phrase too in case that does not work.

Does the wallet actually store 2 master private keys? I thought the mnemonic was a representation of 2 but one of the keys wasn't stored in the wallet, one was and one was with trustedcoin? I'm just curious if this is going to be usable for people who lose their 2fa and only have their wallet file if 2 of the keys are stored there.
If you have disabled TrsutedCoin and make it 2-of-2 multisig, you will be able to access your two private keys on the file backup.
2893  Other / Beginners & Help / Generating wallet on custodial exchanges is what you should avoid on: June 10, 2022, 11:24:41 AM
I used OKX recently, I was not verified because unverified users do have option to withdrawal limit. I left the exchange for like a month and I deposited to the exchange like three weeks ago. I wanted to withdraw from the exchange after successful trading and it made it mandatory for me to provide my phone number. There can be a time that I can be forced to provide my identity documents like driver's licence, nation ID or international passport. We should not forget to differentiate between centralized and decentralized exchanges. But I like the exchange service and it is one of the best exchanges I have used thus far, but it still remain a centralized exchange, you can be asked to verify at anytime if you have coins on the exchange or not in a way you may not be able to withdraw just as I was unable to withdraw until I added phone number.

Let us go into the real matter. Recently I on the exchange, I saw wallet, I clicked on it, I was thinking it would be a centralized wallet, I asked on this forum about it, but later checked it also myself too through a link because I can not use a centralized platform to create a wallet. This is how it looks like:



You can generate a noncustododial wallet on a OKX exchange, the people using the exchange can be forced to do KYC but have used the site to generate a noncustododial wallet. This is just a way to link centralized exchange to what supposed to be a noncustododial wallet. Which means privacy is totally gone for those that make use of this together. I will not recommend this method to create a noncustodial wallet, it will link your noncustododial wallet to your exchange and no privacy possible again for such person.

I am not recommending the wallet, people should not use it. But just a question left, is it open source or close source, I did not see anything related to the wallet on GitHub, not to talk of checking the code, or am I missing something?
2894  Other / Beginners & Help / Re: Crypto scam increasing on social media on: June 10, 2022, 10:28:38 AM
Asking the government to regulate the social media is more like asking for the regulation of people's right to freedom of speech and interaction globally.
It's left for people using social media to be self aware of how they make use of the media.
I don't think it is the work  of the government to regulate social media, most of this social media are owned and operated by individuals,  by right it is the duty for social media operators  to be strict  on users in the way they use the social  media for their online business.  But it won't be possible for social media to be regulated by  their  owners because these social media platforms need users to advertise their business to generate funds.
You people should not get me wrong. Taking bitcoin for example, it is decentralized and people can have privacy with bitcoin. Okay, how about centralized exchanges, they are centralized and have KYC people needs to be verified, no privacy. Let us relate it to social media, no privacy as most people are posting and discussing about themselves, but a way to keep scammers among to remain anonymous and untraceable. Even if the government can not regulate social media, it is still a place to lose privacy and yet a place scammers can be anonymous which needs attention.
2895  Economy / Exchanges / Re: Is OKX truly decentralizednor just a lie on: June 10, 2022, 09:14:41 AM
OKEX's is also non-custodial apparently[1] and from the look of it, I'm guessing its forked from mm but just like Coinbase's wallet, it's not possible to know for sure if they also have access to your private keys or not, since the wallets are not open source.
Sorry that I edited the OP to 'del' almost immediately that I posted it, I was surprised you were able to know the OP content. I deleted it because I later got a link on OKX exchange to learn more about the wallet, immediately I saw seed phrase when I clicked on the link, I noticed it is a noncustododial wallet. I was about to report this list now to the moderator to delete it and I saw your reply, I highly appropriate your reply which is the reason I edited the post back to the original post. But I just know that it is not worth it to still use the wallet because OKX may be able to link the wallet to your identity if you are verified on the exchange.
2896  Economy / Gambling discussion / Re: Slots is More Likely to Cause Gambling Problem on: June 10, 2022, 07:53:21 AM
Slots is not only the existing gambling, generally both sport and casino and other types of gambling can be addicting, that is why it is good to use the amount of money you can afford to lose to gamble. The problem of gambling is when someone is using large sum of money which is beyond his capability. It is not only slots that are addictive, all other gambling means are addictive. But what makes it most addictive are people that think they can make a living, earning, profit from gambling which will not be what will happen as the person continues gambling.
2897  Bitcoin / Electrum / How to decrypt electrum wallet encrypted file backup? on: June 09, 2022, 10:03:47 PM
I am using electrum, I created a 2fa wallet with it. I wanted to be able to access my two master private keys while the third is with TrustedCoin, I imported the seed phrase on another electrum wallet, I disabled TrustedCoin and made it 2-of-2 multisig. I removed the password and backup the wallet file. I used text editor to easily see my two master private key.

But I will prefer file backup with my password included, but if I backup the 2fa wallet with my electrum password enabled, I was unable to read the wallet file on text editor as it is full of what I did it know.

I think the password of my electrum makes the file to be encrypted which is safer. Is there a way or a tool I can use to decrypt the file?
2898  Other / Beginners & Help / Re: Can this be called a warning as spreading the virus? on: June 09, 2022, 09:30:28 PM
A means to earn money. When I read this yesterday, the ethereum address adyingnobody posted had 44 transactions as of the time the news was published. Maybe this is just a scam I guess. Because if nothing is released and the account just become inactive ever again, that means the donators into that ethereum address have been scammed.

Secondly, it is good to be careful of malware which is what people are warned about, it is better to just stay away if you do not know how to avoid malware because this can lead to a spread of malware as people are really waiting for the released of the promised information which may not even be real and may contain malware.
2899  Other / Meta / Re: Why The Number ‘‘120’’ Is Important On The Forum on: June 09, 2022, 09:20:54 PM
To be sincere, this topic is not helpful and not needed, it is not useful and does not have any quality at all. Please try and create a meaningful topic next time. All ranks are important. The more you rank the more you understand this forum and things better.

REQUIREMENT FOR CAMPAIGNS
Another place this number 120 plays a big role on the forum is when it comes to campaigns, because to most campaigns, one basic requirement always needed to join has always been, how many merits were you able to gained within the past 120 days. That is, now using the number ‘’120’’ as now a timeframe for measuring one’s eligibility with reference to merit earned.
There are many campaigns on this forum, but this forum is for learning and contributing. This forum is a place you meet people online to communicate what is happening around the world and most importantly about bitcoin. This forum is not about joining campaign.

Sorry that I post this, but you put in so much effort on what is not needed.
2900  Economy / Gambling discussion / Re: How to Effectively Maximize Profits from Online Crypto Casinos on: June 09, 2022, 08:16:02 AM
It's bet to quit and stop when we're on the losing streak because aiming for more could only make us lose more. That's where gambling addiction usually starts. Putting limits and knowing when to stop is necessary so we could manage our funds right. There are really days that we'll feel unlucky.
If a gambler gambles and he has lost, if he continues to gamble, he will continue to lose and got frustrated. That is just gambling, any loss will only trigger more loss if the gambler continue to gamble at that moment. But aside that, a gambler can take high risk and lose big with money and properties, that is an addiction, such people need to quit for time being or forever. But having a risk management plan and able to use just that and not going beyond your risk management boundary will help in a way to manage their fund right while also not gambling frequently will help.
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