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3341  Bitcoin / Electrum / Re: Lost Bitcoines In A Transaction to Coinbase on: February 28, 2021, 05:08:03 PM
They did not however seem to ask me for any transactions ID's or so forth, which makes me think they just quickly wanted to answer my question as they always have multiple other inquires going on, so when I posed a few follow up questions I never got a reply and eventually the case was closed..
There are different possible scenarios;
• They had looked into it and the address was wrong, as coinbase admins they could contact the technical team for details about your account, such as deposits and withdrawals, this would reveal any bitcoins which were received by addresses linked to you.
• Or they simply did not pay enough attention to your situation.
I do not use coinbase and I'm not familiar with how their support team operates, but it's a big exchange and I'm yet to encounter a situation where they try to deliberately rip off users.

yet maybe I skipped a step by transferring the bitcoins to the coinbase exchange right away instead of my coinbase wallet... If that makes any sense? I never actually created a coinbase wallet..!
You mean you didn't request a deposit address? Coinbase is a non custodian exchange and generates addresses on behalf of its users.
AFAIK, if you did send it to an exchange address, it would be on trade to be exchanged for some other currency.
3342  Other / Meta / Re: Good to delete post or not on: February 28, 2021, 04:31:16 AM
I do feel like I cheat if I posted already and another user posted under my post which make my post irrelevant, I think at times that if I delete the post that I cheat, that it ought not to be like that, but also sometimes it can lead to misinformation if it is not deleted. What do you suggest:
I do not think it's cheating at all. If the user who posted under you was only replying to the OP and did not address your post (or quote it), then it doesn't affect then if you delete or edit yours; but editing your post based off a new reply after yours without crediting the user for the assistance is somewhat unethical.
For example, someone asked about the average block confirmation time;
• You wrote 2 minutes, and someone below you commented ten minutes,
• If you edit your post to ten minutes without crediting them, it looks like they posted a reply even though the issue had already been solved.
• Best to edit with a strike through and a message about "user x giving the right answer)

Also if all contents in the post are wrong, should it be left not deleted or deleted for people not to read it at all?
I'll suggest they get edited or deleted. Users can use keywords while searching for solutions and come across the inaccurate post.
3343  Bitcoin / Bitcoin Discussion / Re: who leads the frontline for the war against Bitcoin vs Government on: February 27, 2021, 07:31:48 PM
Firstly, majority of governments are independent; so Bitcoin is accepted by some, regulated by others and restricted by yet some more. There is no global stance on Bitcoin.
Also, Bitcoin is a decentralized network, regulations can only do so much, but no one can stop the public from holding and transacting across wallets.

So, who is really at the frontline for bitcoin in this war?
The immutable protocol which supports Bitcoin. There is no centralized authority and the community can only do so much, but the fact that Bitcoin would always remain the same regardless of government actions means it cannot be stopped.
3344  Bitcoin / Bitcoin Discussion / Re: How do I convince people that Bitcoin isn't a financial pyramid? on: February 27, 2021, 03:44:34 PM
As you might expect, many of these people believe that Bitcoin and all other cryptocurrencies will not benefit the economy, but rather only make it worse, and many are convinced that Bitcoin is yet another pyramid. And what upsets me the most is that among these people are economists, financial advisors, they should know better, than that...
Bitcoin was not created to benefit the economy, it is not a fiscal policy like what financial agencies implement. Bitcoin is a peer to peer network which offers freedom to its users. The speculative quality is a side effect.

So how do I prove them wrong?
Tell them to do their research on it, and make inquiries without prejudice. Most people who don't understand it would not take it to be a pyramid and those who have done their research and still think it to be one are FUDsters.
3345  Bitcoin / Bitcoin Discussion / Re: The good side of banning btc in Nigeria on: February 26, 2021, 07:16:20 PM
So I don't think banning cryptocurrency will bring in any positive impact on Nigeria. Because common people always try to stay within their legal limits.
The government did not and CAN not ban Bitcoin. They rather restricted government agencies and banks from mediating between trades, so you can still legally hold and trade peer to peer but cannot deposit on exchanges using Banks. True Bitcoin holders would still Hodl and trade Bitcoin regardless of the government interference.

1. Regulation: [/b]Now that the SEC is talking tough, the government and senate may come with regulation in the Nigerian space anytime. If there is regulation to this effect, expect more investors because it means it has officially been legalized as many fear it wasn't a legal means of investment and earning before now.
The Nigerian government has always had a negative stance on Bitcoin, which is emphasized by there most recent action. Any form of regulation would not benefit Bitcoin as it would be a way to restrict and control its usage.
3346  Other / Meta / Re: Should the Scam Accusations & Reputation sections be more restricted/moderated? on: February 26, 2021, 02:52:50 PM
Boards like Reputation, Scam Accusations and Meta are not moderated as strictly as other boards on the forum; probably cause they are meant for discussions about forum and scam issues. Trolls usually abuse the freedom on these boards to spam the forum, but stricter moderation would likely aftect other members.
3347  Bitcoin / Project Development / Re: Hypothetical question for a developer on: February 26, 2021, 05:59:57 AM
Would it be possible for someone like royal mail or a large delivery company to develop and integrate blockchain into their logistics and payments system...
I would much rather they used it purely for logistics, and for payment used a more efficient payment system like fiat or a top cryptocurrency like Bitcoin. There are so many other use cases for the blockchain besides projects creating basic tokens and releasing then in exchange for valuable assets.

If such a company wanted to offer a token, then I would suggest it is given as a reward for customers. After purchases they get a certain amount of tokens (sort of like vouchers) to shop with.
3348  Bitcoin / Bitcoin Discussion / Re: Will the Lightning Network replace on-chain transactions sometime in the future? on: February 26, 2021, 05:49:09 AM
But as on-chain fees increase towards new heights, people will look for other options. They'd either choose an altcoin, or the Lightning Network in order to avoid high fees and slow transaction confirmation times.
I wouldn't say on-chain fees are increasing towards new heights, such spike in feerate ie experienced anytime there is unusual activity on the network, the current fees are not much different from the one experienced during the dip in March last year or the bull run of 2017. When the price becomes more stable, the fees being paid would reduce as well.
I wouldn't switch to hold an altcoin simply cause of lower fees and lightening network can not effectively replace the base layer, so miners are not ''doomed"

Miners don't care, they are already making 6.25BTC per block that is worth nearly $300k without the additional tx fees.
It's quite far in the future, but would this be an issue decades from now when the block reward is little or zero?
3349  Bitcoin / Bitcoin Technical Support / Re: Hello I have a deal for more than two weeks unhappy someone can help me with thi on: February 25, 2021, 07:49:40 PM
I believe you're referring to this transaction you posted some days back;
Hello, can you handle my deal please?
7943344c764ee175f290274761e52954614287ea17284bce0c1601a1923fa874

The feerate you set is very low considering the state of the network and Replace By Fee is not enabled. There's also no change address, so you can't perform CPFP, except you own the private keys of the receiving address.
You could contact (pay) a miner to confirm your transaction or wait for it to get dropped so you send it again using much higher fees to get it confirmed quickly.
3350  Economy / Speculation / Re: Has Elon Musk's twit caused the Bitcoin bubble burst? on: February 23, 2021, 08:19:00 PM
No single individual has that much influence over the price of Bitcoin to cause a price crash. Price corrections and dips are expected during a bull run; these does not indicate it's a bubble which was getting to burst.

People thought Bitcoin was a bubble at $1k, $10k, $20k and now at $50k, it however still grows higher regardless of price retractions
3351  Economy / Speculation / Re: Correction is coming on: February 23, 2021, 08:03:36 PM
Sell your coins while you can,
You can go right ahead and sell all YOUR coins if you expect such a drop within the coming months, you could be right and get a great opportunity to short and purchase more at the dip, or you could be wrong and miss out on a much higher bull charge. Trading is a personal decision and you get to make the choice if you Hodl the coins.
3352  Economy / Speculation / Re: Bloody Crypto market. on: February 23, 2021, 07:58:40 AM
When getting information from the internet one should always filter what they read and watch inorder to ensure its credibility. Inaccurate information is also posted here on the forum.

give an idea or something that you know about the current market conditions
For the last 24+ hours, we have been experiencing price retractions as the value has dropped by more than 10%. Such price changes are expected during a bull run.

I mean a good step to consider.
This would depend on their financial situation and your expectations of the market.
• You can Hodl through if you expect the price to rebound, or
• Sell of if you believe it would dip further.
3353  Other / Meta / Re: Opa newbie from 2013 on: February 23, 2021, 06:12:40 AM
I believe I read somewhere a long time ago that if you reach Full Member status (when you can add a profile picture) and add avatar then basically nuke your own account by deleting your old posts your rank would decrease (with your activity) but the avatar stays. Smiley
This would have been a plausible reason, but when you check on bpip, in both profiles; one has not deleted any post and the other has only 2 posts deleted:
bpbamberger
armenmerikyan

I believe I read somewhere that many years ago, lower ranks could wear an Avatar, and when the rules where changed, those who had it on found keep it, till they changed it, similar to the gif like avatar worn by some users (once changed, they would be unable to wear it).
3354  Other / Meta / Re: Is it impossible to level me up? The Merit questions of member guy on: February 22, 2021, 08:42:28 PM
I saw a members with 300 merits - funny...how to get a full member?
The requirements for full member rank is 100 merits and 120 activity. You already have the required activity count and 12% of the merit count. You've seen members with 300+ merits, which goes to show that it is possible to rank up on the forum if you put in the required effort.
This is a Bitcoin foum and anyone using it would need to be acquainted with how it works, with a bit of more effort you'll learn something new and be able to join discussions.
3355  Bitcoin / Bitcoin Discussion / Re: Crypto market too big to ignore, says Nigeria SEC on: February 22, 2021, 07:09:57 PM
The Nigerian government have been making hasty decisions as regards Bitcoin, most of which were ill advised as they seem to have done very little research on it. The recent ban on cryptocurrency trades showed that the network is truly decentralized and it can operate without the approval or mediation of centralized authorities, which would goes to show that the government has little or no influence over it.

Also, because of fraud cases some people have heard about p2p, they prefer to use bank directly. Also, if big organizations will want to start dealing with bitcoin and other crypto assets, they will prefer bank deposit and withdrawal as the standard.
On accounts of frauds, P2P can be done over decentralized networks which would serve as escrows to protect both parties. I however doubt there is enough liquidity on such platforms to support large purchases. Although, centralized platforms also has P2P options which could suffice for much larger trades.
3356  Economy / Speculation / Re: Ongoing Price Correction on: February 22, 2021, 03:17:40 PM
The price of bitcoin and ethereum has been falling drastically.
During a bull market, the price rises in large percentages within short periods of time, the downside is that it can also experience wild dips within same time frames. This is not usually indicative of a bear market as such wild fluctuations are expected.

Is the market has turned bearish, or it is just the regular price correction.
The price is now approximately $55k, so if was just a healthy correction. It could be indicative of future drops, but you can't decide on that by judging short price changes.
3357  Other / Beginners & Help / Re: inactivity fee on: February 22, 2021, 10:17:24 AM
What happens to your money if you leave it on the exchange and forget about it?
• The exchange can get hacked and you lose your funds,
• The exchange can do an exit scam and you lose your funds,
• The currency you are holding could get delisted and go to zero,
• The exchange could close down your account and you lose your funds,
• You could lose access to your log in details and lose your funds.

Best to store your funds in a non custodian wallet, which does not operate on terms and conditions.
3358  Bitcoin / Bitcoin Discussion / Re: Staking and BTC on: February 21, 2021, 09:36:37 PM
Proof of stake coins are designed to give interest to users who hodl for certain periods, these rewards are a product of the network protocol and users would get it by simply keeping their coins in their wallets.
Bitcoin is a proof of work coin, so you'll not get any interest for hodling in a non custodian wallet.

Somehow in my exchange account I get staking rewards over my BTC.
Some exchanges offers staking rewards to users. This is not a protocol design, but a service rendered by a centralized exchange.
3359  Bitcoin / Bitcoin Discussion / Re: "be your own bank" does it also mean be your own central bank ? on: February 21, 2021, 08:25:53 PM
I'm trying to consolidate my wallet since two months now without much success so far.
The concept of consolidating is that it should be done when the fees are relatively low (like between 1-3sats/byte). During periods of price spikes the fees go up and you pay higher to consolidate your funds.

But this doesn't answer my questiin that I thought simple : can I buy a bottle of milk today with BTC ? The answer is simply no unless overpaying it.
If merchants adopt off chain payment networks like LN, it would be possible. However, for such small purchases, I would recommend you use cash in your pocket, until bitcoin matures further as a medium of exchange.
3360  Bitcoin / Bitcoin Discussion / Re: "be your own bank" does it also mean be your own central bank ? on: February 21, 2021, 08:00:02 PM
But I'm talking about the minimum amount spent without paying as much as fees. I don't think spending 10$ + paying 10$ in fees on it is a good spending manner.
Of course, no one would want to pay above 10% as fees for a transaction, limiting Bitcoin's usage as a medium of exchange especially for much smaller transactions. There are options for reducing the fees paid such as segwit, consolidating, lightening network etc; but these methods have yet to efficiently eliminate high fees especially at times of high network activity. If you're holding, it's better to apply those means of reducing fees.

<snip>
Each coin should comply with the BTC-backing requirements so I doesn't simply sink.
Bitcoin does not have any requirements. It is a decentralized technology with no central authority. A system which redeems ANOTHER currency backed in Bitcoin would go against the core values of Bitcoin.
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