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481  Economy / Gambling discussion / Re: Pay off DEBT by do Gambling? think again before you loss more on: February 05, 2024, 06:00:00 PM
I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

The valuable message that can be taken from my friend above is never take risks to gamble to pay off your debts, the pressure is very big, the chance is very small that you can pay off your debts, often you end up losing even more and losing your money. look for loans, sell your valuables or look for part-time work to pay off your debts, is a good way rather than playing the small money you have in gambling

You've made a very valuable point that is worth noting.
I could've sworn you were just talking directly to me. I too have been a victim of this unimaginable state you wouldn't wish to find yourself in.

 A few years ago, back in college days, I was desperately in need of money complete my tuition fee, I was completely out of cash and out of options. I tried to get loans from friends, and even from my bank, but all were declined, I had half of the money with me, so I used it to fund my account in one online casino back then. It was actually my first time of gambling. I've always heard so much about it but I hadn't tried it.

So this time I tried it and staked all the money in a game, and guess what, I actually won the bet and I made over 10X of my money, I withdrew the money, paid off my tuition fee, sorted out other stuffs and still had change.

So my friend, just because your friend tried it and didn't work for him doesn't mean it won't also work for others, cos it sure worked for me.
482  Economy / Gambling discussion / Re: stop the unnecessary blame on gambling whenever you get unlucky on: February 05, 2024, 10:49:55 AM


A lot of people have been clamoring about how gambling has ruined their life but same gambling has set some people up for life, just like every other form of investment there must always be a profit or a loss.  And life is so balanced that what works for Mr A might not be the same that works for Mr B. Likewise in gambling,  while some are crying about their loss they are some who are smiling and celebrating their win.
 Gambling has been seen as a very dangerous thing base on some people's point of view here in the forum whereas in reality it has given some people the capital to start what ever business they want to do. My point in this post is that we shouldn’t just paint gambling all black because some people have fail to stick to the discipline of gambling.
 I believe that before one make a decision in life, they should've already weighed the consequences of making the right or wrong choice, then put their fate on luck coupled with their little knowledge concerning what they're about to decide on, so why complain and play the blame game when things go wrong? "Share your thought on how gambling has come through for you if you got any".

Before even involving yourself in gambling, one should already know what he's getting himself into, a gambler should be fully aware of that gambling isn't really guaranteed investment, winning isn't always guaranteed as you can loose everything you have trying to chase profits or even your losses. I mean every gambler knows this, so saying gambling destroyed your life is something I'll never accept.
If there's anything that destroyed your life in gambling, then it's nothing more but your greed and desperation, because if you gamble responsibly without having the mindset or seeing gambling as a do or die, then there's no way gambling can destroy your life. I mean you're not the only gambler who experiences losses in gambling, every gambler does but responsible gamblers knows when to call it a quite and when to continue gambling and that's what makes you immune to gambling hazzard.
483  Economy / Gambling discussion / Re: Do not gamble with Loan Money~otherwise you will be in danger like me on: February 05, 2024, 10:40:09 AM

I have always advised people not to take gambling seriously but I myself became heavily addicted to live blackjack from stake.com and kept winning and losing. In this case I will not blame the gambling site because they give live cards. I started the game with just $20 but gradually I got addicted to it and wanted to gamble and win bigger amounts by depositing bigger amounts. I lost $1700 playing this way then I decided to play with a much bigger amount and recover all the losses then quit gambling for this I borrowed 270000 BDT ($2180) from the bank and deposited there. But unfortunately I lost them. Now I am financially so weak that it has become very difficult to meet my family expenses and I owe the bank $2180 which will take me a long time to pay off. Now it will take about 2 years for my financial situation to be normal again. Gambling addiction set back my normal life by 2 years. I am a victim of real experience and I am sharing my real experience with you.  Don't make the same mistake I did.  And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling

I completely understand what dilemma you must have went through because I've also had similar experience, mine happened several months back, it started with my usual gambling routine, I received my salary that month and I took out 10% which was the amount I agreed I'd use for gambling. I funded the money into the site I normally use and started gambling, but it seems that wasn't my lucky day, but rather than accepting defeat I didn't stop, I took more money from what was left of my salary and funded again, I kept on trying and trying until I lost my whole salary for that month, it were as if I was under a spell and the spell had only came off after I've lost everything, I because frustrated and desperate to recover my money, but i had nothing left to chase my losses with so I called my Boss at work and requested for a loan, he was curious to know what I wanted to do with the loan because he had just disbursed salaries to everyone including myself, I told him I had an emergency I needed to sort out immediately and then he gave me the loan which was more than twice my salary.
I funded the whole money out of desperation and started gambling again, and I lost everything. I became so frustrated and didn't know what to do or how to repay the loan. Well I had to work for two months without salary. This was the experience I needed to make me stop gambling irresponsibly. If it's not my day, it's not.
484  Economy / Gambling discussion / Re: Gambling addiction does more harm than mere financial loss on: February 05, 2024, 10:26:02 AM
Gambling addiction has been known to be associated with serious funds loss, bankruptcy, unsettled loan involvements, properties auctioning and other irritable financial behaviors that depicts frustration and desperations from the victims.
A little more observation shows clearly other effects of such addiction to just not the addict alone, but those around them, be it friends, family or neighbors. Here are a few of them:

Negative impression on children/ dependents: His addiction can corrupt the good intentions of the younger generation looking up to him for inspiration, they may grow up to see gambling as a way of life and follow the wrong footprints.

Whether an addict or not, it's totally wrong and not advisable to gamble in front of children or infants. Children tend to emulate their parents or immediate guardians pretty fast and whatever thing you choose to expose them to is what they'll tend to grow up with, this is why it's wrong to gamble or even speak of gambling in their presence ( whether an addict or not) else they'll start harboring the idea and little by little, they'll start nurturing the idea and before you know it, they'll start to practice it in one way or the other, and when it gets to that point, the idea is already registered in their young mind and they'll grow up with that mentality.

It's just like saying don't drink irresponsibly or get drunk in front of kids rather than saying don't drink at all in front of kids.
485  Economy / Gambling discussion / Re: Gambling Management on: February 05, 2024, 10:15:49 AM
I often run out of funds due to gambling that is too blind in terms of placing $$ on every bet I make and ends up losing. I do multi-bets and single-bets, every time I win, sometimes I forget myself and use all my $$ on the next bet. This sometimes gives me big wins, but if I'm unlucky I can lose all my funds and this has happened many times.

I started to realize and change my habits. Now I use $$ from 'vthe profits from the previous bet to place the next bet and save my initial capital.

What do you think, is this good and can help me overcome losses that will occur so that $$ remains safe and can be used in future betting? Are there other unique ways that you can use to grow your money in gambling? feel free to comment. Thanks

I'll say this is the same experience of almost every gambler, myself inclusive, sometimes I'm glad I used all the money I made from the previous bet to place on the next one because my profits are doubled, Sometimes even tripled, and sometimes I'm left with nothing but regrets after loosing everything.

I've come to realize that this is a very bad habit that is fueled by greed, no matter how small, a profit is a profit, and it should be removed, there's no point gambling when you're still going to loose everything you've won all in the name of trying to round up your bet with a x2 win, that's too much of a risk to take and I've only come to that realization.

What I do now is, whenever I make a win, no matter how small, I first of all, take out my capital and also take out at least half of whatever profit I make and withdraw them back to my account and then whatever I'm left with, I can decide to go try my luck again, and if I win again, I repeat the same process and if I loose, I know I didn't loose everything.
486  Bitcoin / Bitcoin Technical Support / Re: compressed and uncompressed addresses on: February 04, 2024, 11:21:59 PM
However, I've learned that although sending Bitcoin from a legacy address to a SegWit address isn't possible but it is possible to send Bitcoin from a SegWit address to a legacy address, and I haven't figured out why.
You are wrong.
You can send bitcoin from any type of address to any type of address you want. This means that you can send bitcoin from segwit address to legacy address and vice versa.

Well that's Strange, cos I know I tried it sending Bitcoin from a Legacy address to a SegWit address, and I'm pretty sure it didn't go through.
487  Bitcoin / Bitcoin Technical Support / Re: compressed and uncompressed addresses on: February 04, 2024, 10:55:54 PM
You are referring to legacy bitcoin addresses. Addresses that start from 1.

For the address that is not compressed, its public key will start from 04, while its private key will start from 5.
For compressed, its public key start from 02 or 03, while its private key starts from K or L.

Compressed legacy address has low fee than legacy address that is not compressed.

But for low fee, do not use legacy addresses, use segwit addresses. Addresses that start from bc1.

Sure, SegWit addresses that begin with "bc1" are typically more effective and have cheaper fees than legacy addresses. However, I've learned that although sending Bitcoin from a legacy address to a SegWit address isn't possible but it is possible to send Bitcoin from a SegWit address to a legacy address, and I haven't figured out why.
488  Bitcoin / Bitcoin Discussion / Re: What's the view of an average citizen About crypto currencies on: February 04, 2024, 10:43:39 PM
When I say it's future is uncertain I mean crypto currency is very difficult to predict due to its high volatility, crypto currency has the potential to shake our financial industries  in the future ,more than they have done now.
Bitcoin enthusiasts are very positive with not too possible predictions , when it comes to predicting crypto currencies, BTC has seen several decline in market value but always become stronger every time this happens.

I completely agree; it is really hard to predict what the future of cryptocurrencies will hold! Because of its volatility, it is difficult to predict its long-term trajectory, and different experts have different predictions for it. Supporters of bitcoin certainly are optimistic about its future, and they frequently cite previous dips as proof that it will keep rising.
489  Bitcoin / Bitcoin Discussion / Re: US wants to know bitcoin electricity usage in the country on: February 04, 2024, 10:32:49 PM

It's pretty simple. Government should try to nudge mining companies to choose renewables over fossil fuels.

And this is exactly what EIA is going to do, they are going to get the data and from now it's the government going to penalize miners that consume fossil generated energy and make them use renewables. Nobody will give a damn if 100000Exahas are powered by the miners own renewables, but if you're increasing community electricity prices because a miner gulps out all the electricity from a dam, that's not going to fly


Not only is the quantity of energy used in proof-of-work mining troubling, but so is the energy source. Fossil fuel consumption by miners has the potential to exacerbate environmental issues such as global warming. That's far less of an issue, though, if miners are employing renewable energy sources. However, this does not mean that miners' operations aren't negatively affecting the surrounding community, even if they are employing renewable energy. When considering the environmental impacts of proof-of-work mining, that is something that should definitely be taken into account.
490  Other / Beginners & Help / Re: Who is top bitcoin competitor? on: February 04, 2024, 10:06:31 PM
Does it mean no coin hosted on the blockchain will gain mass adoption enough to bypass the users of bitcoin?

No it doesn't mean this. Satoshi, like anybody else, cannot predict the future.

The government own billions of population

This is wildly incorrect. A government doesn't own population. The revolutions have shown this.
Of course, in a couple of countries the revolutions went wrong or they are stull due, but that's an exception, not the rule.

You are entirely correct; governments serve their people, not "own" them. In addition, as you pointed out, history has witnessed several revolutions that demonstrate the ability and willingness of the population to overthrow tyrannical administrations. It's important to keep in mind that the consent of the governed bestows power on a government, and that government collapses with the withdrawal of that consent.
491  Bitcoin / Hardware wallets / Re: How to connect a hardware wallet directly to Bitcoin Core? on: February 04, 2024, 09:50:07 PM
Bitcoin Core can connect to a compatible hardware wallet directly, but I don't know how.

I want to connect to Trezor, Bitbox and Ledger.
The easiest solution is to link these wallets to Sparrow Wallet and then link Sparrow Wallet to Bitcoin Core. Sparrow Wallet has better integration with most HW and it will not require a lot of complications to connect it to BitcoinCore.
That's an effective alternative.
Other ways to connect Bitcoin Core wallet to Trezor, Bitbox, or Ledger hardware wallet would be to follow these few simple steps,
1. you'll need to enable the "External Wallet" feature in your Bitcoin Core wallet.
2. You'll need to connect your hardware wallet to your computer using a USB cable.
3. Once it's connected, you'll be able to use the "Import External Wallet" feature to import your hardware wallet's private keys into your Bitcoin Core wallet.

I believe these steps will be extremely helpful.
492  Bitcoin / Bitcoin Discussion / Re: Different wallets for each buying origin? on: February 04, 2024, 10:58:57 AM
If you care about your privacy, then it's better to use separate addresses for KYCed funds and non-KYCed funds. So both funds won't mix with each other. If it is mixed, then it is easy to detect where all the funds are coming from or who owns them. If you are using multiple KYC exchanges,  you can use an address because it doesn't make any difference. I would advise you to always protect your privacy and don't mix KYC and non-KYC funds if possible.

Yes, using different addresses can help to maintain the anonymity and untraceability of your transactions. Not to mention, you should always verify the terms and conditions of each exchange you use as some may mandate you to use different addresses for KYC and non-KYC funds.
493  Bitcoin / Bitcoin Discussion / Re: Revision of High transaction fee in bitcoin. on: February 04, 2024, 10:50:31 AM
There should be alternatives to these motives for general adoption.
Lightning network, Liquid Network, Rootstock etc.

Quote
If this issue is been addressed, bitcoin will prevail. The fee is deterring the adoption especially in our rural and local areas.
This transaction fee may stand as an obstacle and a repugnance to the widespread of bitcoin acceptance.
They can start as small as possible, just buy Bitcoin in centralized exchange, you will not pay transactions fees as you only pay the trading fees. Yeah I know it's bad to hold your money in CEX since it prone to many issues including bankruptcy.

But that's the only way for small holder.

Yeah, it's true that there numerous risks associated with using centralized exchanges for buying and holding Bitcoin. But On the one hand, they make it easy to get started with a small amount of money and without incurring any fees. And if we wanna put the risks involved into consideration, it'll lead us to no other option that to consider using alternatives such as a hardware wallet or cold storage solution which can be expensive and difficult to set up for beginners.
494  Bitcoin / Bitcoin Discussion / Re: What's the view of an average citizen About crypto currencies on: February 04, 2024, 10:37:20 AM
People must stop comparing from the all time highs and check that all time lows, I think with that perspective, you'll get a better view about Bitcoin.

But we're all in agreement here. I've talked to my friends and when they've heard that Bitcoin has been increasing dramatically, they've approached me.

So, this is for the perspective of average citizens but don't own any Bitcoin. They will just like it when it pumps but when it dumps, they'll leave you alone.

You just expressed precisely what I was thinking. Although it's simple to get swept up in the excitement around Bitcoin's price explosion, it's important to maintain balance and take into consideration the all-time lows as well. I completely agree with your analysis of the views of average individuals toward Bitcoin. It appears that most people are more interested in quick profits than in long-term investments. They overlook the fact that Bitcoin isn't like any other token you may invest in today and start making profit on the following year. Long-term Hodling of Bitcoin is required to realize its full potential.
495  Bitcoin / Bitcoin Discussion / Re: Buying BTC in Russia on: February 04, 2024, 10:15:53 AM
If your friend is fine with submitting AML/KYC documents, then Binance P2P is the GOAT. His/her bank doesn't even necessarily know that he/she's buying BTC because it's P2P.

Also did a quick search and yea, Binance P2P seems to be the way to go: https://www.reddit.com/r/Bitcoin/comments/126w19r/how_to_buy_bitcoin_in_russia/

Binance P2P is undoubtedly one of the easiest way to buy Bitcoin especially for countries that places a ban on Bitcoin, like Russia, but I don't think if anyone would wanna risk considering that option since it requires submitting KYC documents, especially new Bitcoin users who are very conscious of their privacy or anonymity, mostly for fear of being caught using crypto. So rather than recommending a CEX to such a person, I believe recommending a DEX would be a lot more appropriate and less risky for them.
496  Bitcoin / Bitcoin Discussion / Re: What are your expectations ahead of pre and post BTC halving? on: February 04, 2024, 10:04:16 AM
2020 was supposed to be an amazing year for me after buying some BTC and altcoins back in 2019 but the Corona virus came and had to dispose by crypto bag for survival before the bullrun came. It's a year I would never forget coz my life would have changed drastically if Covid 19 hadn't messed things up.

COVID 19 didn't really mess things up with Bitcoin, I'll say it merely delayed it, I believe if you weren't thinking more of short-term then you would have realized it. Bitcoin isn't like every other tokens, it's best when you HODL for a long time, you can buy a good number of BTC today and then expect to reap a bountiful harvest next year. Bitcoin investment takes time, it's a long-term investment. I believe you wouldn't say COVID 19 messed things up if you had a little more trust and belief in Bitcoin and held the Bitcoin you bought back then in 3019 till 2023 or 2024.

497  Bitcoin / Bitcoin Discussion / Re: You must have a source on: February 03, 2024, 07:56:12 PM
You must have a source of income if you must succeed in your holdings.

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

Indeed, the importance of having an Emergency Fund cannot be overemphasized, like someone said, if you're holding Bitcoin without an emergency fund, you can't call yourself an investor because you're not investing but gambling with your asset. Surely Emergencies are inevitable so they'll come whether you see them coming or not, so it's only best you prepare for it so you won't be taken unaware. Because if you don't have a reserve for emergencies, then you'll be forced to run back to your investment every single time you need money for an emergency.
Just imagine going to your investment whenever you need money for rent, or whenever you need to get supplies for the house or maybe when you wanna sort the bills, you'll be killing your investment gradually, because rather than growing, it'll be diminishing every single time you touch it.
So Emergency Funds are a must if you wanna have a successful investment.
498  Bitcoin / Bitcoin Discussion / Re: Paying house rent with bitcoin is it appropriate? on: February 03, 2024, 07:44:29 PM
Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.



I don't see anything wrong with using Bitcoin to pay up your house rent, buying a house or what have you, I mean the future of Bitcoin is general adoption, using bitcoin to pay for anything, starting from a cup of coffee in a cafe to buying bus and plane tickets. If you see using Bitcoin to pay for rent then that means you can't afford to see Bitcoin being generally adopted as day to day payment method which is actually the goal and vision.
499  Bitcoin / Bitcoin Discussion / Re: Can bitcoin be stolen? on: February 03, 2024, 06:46:59 PM
rs and ha

It turns out that Bitcoin stealers target not only big companies but individual users with modest amounts in their crypto wallets.

Now bitcoin is one of the safest way to invest digital currency. Because of its new and improved security system it makes it hard for hackers and thief to access

So now the question is bitcoin safe from hackers?, can it be stolen?

By all means, if you don't keep your wallet safe, then there's every chance that your wallet could be compromised and you can loose all your asset so the first thing keeping your wallet as safe as possible by choosing the best storage method to store your Bitcoin because if you don't do that, you're freely tendering your asset to scammers and hackers to access your funds and possibly highjack your investment.
If you're scared of hackers hacking your wallet then you can try a more secure way of storing your bitcoin, a way that not even hackers can access. Example is the hardware wallets, hackers can't access a hardware wallet, let alone getting the chance to hack it
500  Bitcoin / Bitcoin Discussion / Re: The Psychology of Investing in Bitcoin on: February 03, 2024, 06:33:51 PM
Well Hello from the other side ~ 

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

Every Bitcoin investor is investing for the primary aim of making profit, maybe the tech or the thrills as you mentioned may fall under the secondary aim of going into bitcoin investment. That been said, its important to note that, how successful you are as a Bitcoin investor is solely dependent on the investment technique employed by the investor, what do I mean by this?
Bitcoin isn't like every other Altcoins, Bitcoin is a more sophisticated token, that's why its called the father of all crypto, the framework and mechanism of Bitcoin advices investors to HODL for the long-term before you can truly reap the true benefit of Bitcoin, yeah there are a lot investors who do the short-term and they believe that they're reaping the true benefit of Bitcoin.
If you're a short-term investor in Bitcoin, you'll not only miss out on the true benefit of Bitcoin but you'll also expose yourself to unnecessary emotional discomfort that may lead you to making drastic decisions like selling your token during a dip or when it reaches a significant number. But using the long-term technique shields you from these situations.
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