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581  Other / Beginners & Help / Re: How much do you Trust Bitcoin ? on: November 23, 2023, 01:22:30 PM
To what extent do you believe in the long-term viability and stability of Bitcoin as a leading cryptocurrency, considering the impact of decentralized finance (DeFi) and non-fungible tokens (NFTs) on its perceived value, adoption, and regulatory landscape? How do you perceive the potential influence of DeFi and NFTs on the trustworthiness and growth potential of Bitcoin, and how does this factor into your overall level of trust in the digital asset ?
To make it simple from 0 to 100  how much do u trust on Bitcoin ?

Nothing is 100% as that will indicate a perfect system but I will go with 98. Bitcoin is the only transaction you cannot toy with and the security is superb. It's only with bitcoin you can make a transaction and worry less about if it has reach the destination or not because as soon as a confirmation is done and has a max of 6, it cannot be reverse and that is one aspect I love about it.

Another reason why I love bitcoin is that there is no censorship, it's highly resistant to that because as of this month, tether has blacklisted ethereum address claiming it is use to finance Isreal and Palestine war, this could be true and it could also be a lie because this are all suspicion until proven guilty and a place where everyone is allow to use without anyone authorization, it is not possible and yet the wallet address are not going to be able to clean themselves again. However, this cannot happen in bitcoin, a coin belong to no one except if you have the private keys or seed phrase to that account.

In addition why I trust bitcoin very well is the security to wallet. You can give your bank account a maximum security from theft and still get the shock of your life by losing your money because many cases have reported where insider worker compromised informations and steal money from customers. This can not happen with bitcoin except when you misplace your seed phrase or private keys.
582  Other / Beginners & Help / Re: Some traps to avoid in bullrun. on: November 23, 2023, 12:56:41 PM
1.Invest in what you can afford to lose: I have read this line many times inside this forum and outside this forum that are crypto related discussion and what they tell you about crypto investment is to invest with the amount you can afford to lose to avoid had I know and regrets that later.

In the last bull run, some people commit suicide when they loss their funds and when some of them where victim of scams. It's advisable to invest in the amount you know it will not hurt you if anything should happen in the end, always consider this before you take that money to any coin.

I have video of this guy that was crying frivolously after he used money meant for shop business to buy Shiba thinking he is going to make something before the end of the week because it was literally Shiba that was toping the chart, meanwhile the guy wasn't even the owner of the business, he is just a sales boy that keep records of sales and did silly investment and when it crash, he was begging for people to help him lend him money.

He was out of the job and was arrested later because nobody was ready to help him that time because the amount was too huge to lend someone who doesn't have a means to pay back. The family later bailed him out. What is the moral story of this? If you don't have money to invest, just watch and learn how things go when you don't have the means to buy. Don't take actions you may regret later.
583  Other / Beginners & Help / Re: Someone just paid 83BTC for transaction fee, on: November 23, 2023, 12:46:28 PM
A transaction that was in block 818087 had actually paid a whopping sum of 83 bitcoins as the transaction fee. I would say this is a costly mistake but for someone having that huge amount of bitcoin in their possession I don’t get it. The transaction was first broadcasted with a fee of 70 bitcoins and then later was replaced with that of 83 bitcoin as fees.


If that's is not money laundering, I don't know what else to call it. I will assume that's a miner transaction because I don't think this is a mistake but a deliberate one. The first time a 70 amount of bitcoin was use as fees and then replace it with a bigger fee, don't you think something is off. If it was a genuine mistake, he would have probably override the transaction to a lower fees the soonest he realized the mistake but bump the fee by +13 bitcoin, that's deliberate action.

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My guess is the sender was probably trying to set is fee as 70 and 83Sats/vbyte and then mistakenly set out that high fee. The block was mined by Antpool, hopefully they would treat it as mistake and return the funds.

1. TXID for the 83 bitcoin fee: b5a2af5845a8d3796308ff9840e567b14cf6bb158ff26c999e6f9a1f5448f9aa

2. The replaced transaction ID: 0c35f3c8a0c38f45629940ee9ab2b1c93d408be113845a735043261ad20f3351

Advice to newbies check properly the amount your setting as fee and make sure you are looking at the right fees estimator, use wallets that allows bumping of fees in case you set a very low one

I still don't believe this is a mistake, a honest one will be easy to convince but this particular one is not adding up. The person in question will have even paid 1 bitcoin if at all he was trying to be generous but paying millions of bitcoin in a transaction is really crazy. If the person really made a mistake, we will soon hear from him and beg for returning of the rest of the bitcoin.
584  Economy / Trading Discussion / Re: Bittrex shutting down: What can exchange do differently to avert this trend. on: November 22, 2023, 08:55:52 PM

In the wake of Bittrex users seeking another exchanges, which exchange do you recommend? and do you think they have what it takes to stand the test of time.

SEC is a mortal instruments that goes after exchanges to another exchange especially if it does not favour them or rule for them especially that chairman, always looking for the wrong cause of exchanges but I don't blame them, centralized exchanges has done worse, deprived there money and reported people to agency, they are getting the same treatment they were given others and it's fair in my opinion.

The exchange to use? Well, just look for anyone that doesn't ask for KYC after everything on the exchanges because we many of them that will say they don't request for KYC but will lock your account the moments you want to withdraw money from their exchange. So, go to Coingecko and check for any of them that don't need your kyc to use their exchange
585  Economy / Trading Discussion / Re: Do you pay for signals? And how much ? on: November 22, 2023, 08:48:52 PM
Dlyou pay for signals? And how much ?
What's your monthly expenses for trading signals? Yearly?
I don't pay but i read alot people pay for signals so how good results If this ?

You should have ask also if there is any person that has paid for trade signals and has made something good. Trade signal is one the oldest form of scam in trading, it started from forex and perpetuated to crypto and u tell you, no sane person will want show a profitable business. If trading is that easy to make money from, they will not even have time to open that signal. Most of them that you see flaunting wealth all around is from this scams they do.

It's not a profitable thing to depend on. If you like trading, it's better you learn it yourself. Learn both technically and fundamental analysis and practice everything, with time you will understand everything and the experience you get will take you far in trading. Just take your time and watch some video on YouTube and Udemy, they are very helpful and I think Udemy are more helpful and you can have them free on the internet.
586  Economy / Trading Discussion / Re: Best exchange to start trading? on: November 22, 2023, 06:59:38 PM
Up until now I have been just buying and patiently waiting for the bull run but in the last week I have seen 2 altcoins I was interested in pump up 40% in less than 24 hours so want to try make some money and give trading a go.

What is the best site for this in the UK?

I am only going to start with $200 roughly to see what I can turn it into over the next few weeks and months as the market is starting to get very volatile so could be good opportunity to make some extra money which would then mean I can invest more into my long term plays.

I want to say don't use exchanges because of Binance that shocked many yesterday( I wasn't because I knew that's what they do behind the scenes) but we have decentralized exchanges but you have to be prepared with some challenges ahead like price slippage and running off bots, liquidity crisis but if the tokens you are talking about are popular by demand, liquidity will not be something to worry about. Ina addition, using a decentralized exchange free you of whether you are from UK or you are from Canada because KYC is not important. Some examples are uniswap, pancakeswap, Thorswap and Quickswap.

Try and consider the chain fees because the cost of trading on ethereum Dexes are might suck all your $200 in a day if you are.a regular trader. You can use pancakeswap for all you want because I believe they have all the coins you want and then later, you can bridge all you have on another chain of your choice and that will be save you from fees but be careful of the type bridge you use.
587  Economy / Gambling discussion / Re: Would You Crowdfund for a Gambler Who Has Gambled Irresponsibly? on: November 22, 2023, 06:13:09 PM
A few days ago, I posed a question in this forum, wondering if, as someone who engages in gambling, you've ever considered thought of giving back to the community if you ever had a successful gambling run. I carefully went through all the responses, maintaining keen interest and taking note of each perspective. Another aspect of the inquiry involves whether you would be willing to participate in crowdfunding for a fellow gambler who reaches out to the public through social media seeking financial support after they gambled with the funds meant for an important project like, investment, school fees, rent, marriage or any other thing. And what would you say to those who go ahead to donate to these gamblers out of a sense of empathy?

I will support a community if I hit a jackpot, I mean there is this great feeling you will have if you win one of the biggest jackpot and then help a community like a rural area to dig a boreholes so they can have access to water easily instead of going far to go and get water. You will not only get personal joy but your name will remain golden in that community.

But why would I crowd fund a fellow gambler when he knows the risk involved and still went ahead. If we all follow due protocol of gambling, most this things are not to be discussed because you were not supposed to gamble with the money you need in the first place. If any gambler do that, will there be need to crowd fund a person that did an open mistake? No, I will not add a single penny.

In gambling website, it's bodly written that a gambler must be 18+ and by that if an age person have the power to gamble, they will equally have the power to take responsibility and when you take some bad actions, it has consequences which must be face without inconveniencing any person.
588  Economy / Gambling discussion / Re: Has anyone been able to make steady income with gambling ? on: November 22, 2023, 05:51:45 PM
Has anyone been able to make steady income with gambling ? If yes, what had been your strategy ? Do you diversify to multiple games in order to ensure that end result is always profit ?

I haven't been making steady income from gambling but I do make something good to settle some bills I don't expect often times without numbers. However, I know persons like two that have made millions($) from gambling and billions(₦) in Naira. What one of them did was he set up 3 business, one of them is club for people to hangout, second is restaurant and the third is bar swimming pool where people come and have fun and trust me, they are large business. He has not been making same jackpot he had I'm the past but the business are bringing money and he is still betting well comfortably.

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I personally feel that there are very less chances of making a steady income with gambling. In fact, if you win a big amount in gambling, from there on , you should play games with less on stake and keep the winnings invested in some good option like crypto. It is important to have self control to end profitably with gambling ventures online. Do you agree with this ?

I'm not sure if I should call it determination or luck. There are people that are making it from betting but I'm not sure if that kind of luck will come to me one day, I don't put much effort in it like the way other gamblers do, many of them make a living from gambling, they have cars, have their own apartment and well funish with side business and all the money are from gambling. So, it's possible but the numbers are very low otherwise many gambling platforms will be out of business.
589  Economy / Gambling discussion / Re: How discipline are you in managing your bankroll? on: November 22, 2023, 05:24:37 PM
Recently, I've had some issues with bankroll management. Although I've been gambling for years, sometimes I feel the urge to get more action because I'm not satisfied with my winnings. It's as if there's no tomorrow, and seizing the moment seems like the best option. However, whenever I become undisciplined, it usually doesn't end well. My realization is that no matter how good you are at choosing the right bets, without discipline in bankroll management, you'll still end up losing.

I have some questions that requires some justice answers. The first one is do you make money in those bets after you exceeded your bankroll? Is your bankroll weekly or daily? I will assume you are not making any profit so that I can input my opinion and recommendations but if you answer, I will change my opinion later.

If you wager your bankroll in a spot and it's something you are not doing before, then I think you need to check yourself. It's either your been idle and have much time to bets and it's affecting your ways of gambling, I believe when you have a very little time, to bets might even be hard to do except if you blew up everything in a single wager.

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Could you please share some of your honest experiences here and how you became a disciplined gambler, particularly in managing your bankroll? What factors do you consider to be satisfied and to stick with the game plan all the time?

What do in betting, I have an allocation for every bet and even if when they bring what is expected of them, then the bet is done for that day, you don't need to go extra mile to bets everything and the worse of it is when there is lost for the day, I don't go more than my allocation and after the end of the month, I excel my profits and losses to see how profitable I was for that month. This work like magic and in addition, please have something physical doing and make sure you touch some grass, it's good for the health.
590  Economy / Services / Re: YoCa.sh Multichain Casino | Review Campaign 🔎| Get paid in BTC | Full members+ on: November 22, 2023, 12:27:46 PM
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591  Economy / Gambling discussion / Re: Have You At Any Point In Time Blame Who Taught Or Led You To Gambling? on: November 21, 2023, 09:33:03 PM
I was guilty of this when I was a teenager not on online casinos but in a popular game on Fiesta It is a color game using dice, I was introduced here by my childhood friend and I had a lot of losses with this game, I'm using my school allowance so every time I lose money I blame my childhood for leading me to this color game I do it in a fun way as if I'm just joking but deep inside I hate it whenever I lose. I struggled to fight the temptation but the excitement led me to play again and again.
How about have you at any time blamed the one that led you to gambling in your mind, or even told him face to face?

I don't think you are the only one guilty of using childhood allowance to gamble. Though, mine was well spent on playing play station games and we do bet between players. I lost on many occasions but believe me when I say I remember every moment of it, I enjoy every mokery and jest of me because it was fun. There is no way I would back to those moments because I can now sit in the comfort of my home and bets on what I feel like without informing anyone of what I do.

I understand that kids don't know what they do sometimes but I haven't for once blame anyone of my gambling addiction. I don't watch football before now, I use to even mock my area boys because if it's not final and national matches, I don't put interest but Real Madrid change everything since 2013 and I have been a fan and gamble when I feel like playing, I don't think I have regret anything gambling because I have never risk what I need and I don't think I will ever.
592  Economy / Gambling discussion / Re: A gambler's family action. on: November 21, 2023, 05:51:54 PM
If I am very addicted and if my family is trying to help me quit, I won't blame and stop them. But wherever my feet is going to bring me, it's not their problem anymore but mine. So that's how an addicted gambler is and you're not going to stop until you're wholly stopped by your own and these posters or photographs that are given to the casinos just for them to recognize me, that's fine as they're just doing their thing to help me get out of addiction.

The way you say it is not the way addiction is in reality. See gambling addiction as a mad or insane person. When a mentally disturbed person is having problem, when they want to help him out, you will see that he will be resisting help and will be saying that he is fine and there is nothing absolutely wrong with him, that's exactly how gambling addicts behave too. So when you said "if your family members really want to help you, you will gladly accept it the help will not be the case" you will probably reject any help that comes your way and quit will be the last thing you will want to do.

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And with winning, I'll still give them their share of course. They're not other people and I have nothing against them, no grudge or what not and that's just me being me when I continue to gamble and all they trying to do is to help me out. So why wouldn't I share some money on them when I have won when I know that they have pure intentions and they don't want me to get to the extent to see me suffering and all they give me is the help that they can for me even if it means of stopping me to get into gambling shops. And if they were successful, I understand that there will be no prize money that shall be shared to them. Again, that's just me being me and I think some of you guys are also like that.

Family is one of the great memories we share but have you experienced when family don't like you and push someone to extreme without love? The only thing that can stop you from giving them attention is when you notice that they really need help.

I have seen someone that is not gambling addict but a kleptomaniac abandoned because they couldn't help him any more, they couldn't help stop his addiction to stealing properties that is not his. You know the problem with these set of people, they pick things they don't even need and the family let him be but along the line, he change but never contacted his family again until he heard that his mother was seriously ill before before he paid them a visit. Just hope you don't get less value by the people you love dearly despite your condition.

593  Economy / Gambling discussion / Re: When does the moment come when the gambler loses control? on: November 21, 2023, 05:00:13 PM
There is an opinion that the greatest dependence on gambling is formed at the moment of a big win. The player understands that money can be earned LIKE THIS. This is a fairly common opinion.

But I believe that the greatest dependence on gambling appears at the moment of loss, when the player admits in his head the idea that he could earn so much. He is disappointed, but wants to recoup. It is at this moment that the desire comes to play again and again in order to return to the previous state.

What do you think about it?

I hope you also know that the greatest dependence on gambling appears when a gambler see or hears that a fellow gambler has won a lot of money? This one is even the hardest moment because whether they win or lose, they will always be there to play again because they have the evidence that somebody win, so having a loss will only be a bad moment of short time that will be forgotten and winning will be validation of the gambler that motivated them in the first place.

Whichever they have in mind, I don't think it's a good idea to be too dependent on gambling just to win something big. If you win, your are safe and you may continue to play or exit but if you loss, you will be compelled to try once again. I doing if quit is going to be the next line of action that will ring on your head which will result to addiction and from addiction, you may lost it completely to gambling that will definitely affect your ways of life.
594  Economy / Economics / Re: Economic Implications of War on Individuals on: November 21, 2023, 04:47:37 PM
When war is going on, the first thing I will think about is the safety of myself and my family. And as the OP said, we won't even have time to make careful plans if war suddenly breaks out. But at least we must know the indications before the war. So that we can make preparations when we have noticed and received indications.

When war want to happen and you see it on the news, then there is chances it might not happen, peace will be kept at all cost to avoid casualties on both side but the ones don't see are the ones that use to happen. People don't really give a shit about Palestine and Isreal and until one person made an attack that kills hundreds and thousands, that was when I even knew about the pre war and the current status of the genocide that has been happening between these two countries.

The bad part of this war is that both affected citizens of Isreal and Palestine will never remain in good side of history again. If you are rich before war, the high chance of maintaining that status is low when war happen except if your business isnot in that country or perhaps your are into online business and investments that are not associated with the country, war is not good for any man kind. Cry

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If we are in a conflict area, maybe the first step we have to take is to run away with all the valuable assets we have. If you have the opportunity to change fiat to bitcoin then it would be better if you do that. and then go abroad and while waiting for the conflict to end we may have to survive. And yes, of course we need income even if we are in another country. If we are people who work online from the start then maybe moving countries won't be an obstacle. Because we can still work as long as we have tools and a good internet connection. But if from the start we only rely on manual labor in the real world. So maybe it won't be easy to find work in another country. Unless we have acquaintances and family there.

If we are in a war, nothing is as important as life, I will never trade it for anything. My first priority is to make sure that I'm healthy and alive and if there is possibility of living the country, I will do that asap because only when I have life I will come back to check my properties and I confident that nothing will touch it because many people will also be running for their life as well. I will not stay and die for a war that wasn't started by me and it will not end with me neither.
595  Economy / Economics / Re: #HODLing is not a smooth journey on: November 21, 2023, 04:29:01 PM
#HODLing is not a smooth journey, do you agree? Grin
Totally agree, it is mostly easier said than done for most investors. I personally can recall the different juicy opportunities I have missed to really make it big in this space as a result of a lack of patience to HODL. Especially those early days in crypto when you barely understand the market and easily get freaked out with every FUD and market dip.
Experience is the best teacher they say and I believe the majority of us are more experienced and mature over the years of being in crypto.

What is your view on #Hodling Guys?

source


If there is any digital currency that is stubborn and rigid, I will say it's bitcoin because I could remember vividly just last year or 1 year ago and some days when bitcoin when to below $16k, everyone were sad and panicking that bitcoin is going to repeat 2020 blood bath and it will go to $5k but look at it now, it's been stubborn to go below $35k since last month because some fundamental news are pushing it to break $40k and when that is successfully broken, next target is going to be $50k.

What are the lesson to learn from holding bitcoin? You need to be extremely patient about it, the journey is bumpy and at the same time painful but there is joy you get in the end and that's the profit you make at the end of the day when you decide to sell. It can be draining and challenging especially when the market is red everywhere but you see the green candles that were printed in October and November were worth the effort.

The amount invested is actually going to depict what you are going to make at the end of the day. Don't invest $100 and expect to get $20k in the next 5 years. That's like 5X and if bitcoin should do that from the current price, we will be discussing bitcoin to be at $100k plus which is possible and likely not possible. It's better you consider amount to invest.
596  Economy / Gambling discussion / Re: What I've learned so far as a gambler on: November 21, 2023, 03:44:49 PM
If you walk into a casino with $200 and you start playing with that $200 and you win $200, get the hell out, you simply just doubled your money, take your goddamn leave, what do you think you wanna do? Win a million dollars? You will go home empty handed.

Do you know that some gamblers aren't after doubling their money? I have come across this guy with much ambition in gambling and his target is not to win hundreds and thousands, he is determined to win millions and I was surprised when that guy showed me his grand winning ticket. He won ₦6 millions which was in Naira currency and funny enough, he didn't stop there, he has won more than that amount since after the first grand ticket, there are gamblers that are not after doubling, but grand winning ticket.

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The next thing that rings in your ear is you can still win another or more, that's the devil whipsering, the art of gambling is knowing when to stop.

The only game where you have some power is in Poker, not the online one, this is the best game in casinos, as making profits off of bad players is possible.

As for Other games, You are at the mercy of the house.

No one actually visits the casino to have fun, you gotta trick the mind, I like to think of it has a fun night out and I am going to spend a few hundred dollars and have a good time and if I win it's a bonus, like I've said, you gotta trick the mind.

Always remember this, you are there to win a game where its statistically impossible to win at, it's not impossible to not understand this about gambling, a wise man once said, "if you want to make money with gambling, own a casino".

Well, if you are playing casino I will say that your result depends on the mercy of the house but as a sport bad gambler, your winning depends of many factors like weather, the players, the stadium where event took place, the referees and possibly VAR as for football sports.

I don't think you need to be afraid of gambling if you are really determine to win. You wager a money which you had in mind if not coming back to you any more, why should you fear that you will still lose that money? Play what you want and enyoy the game, if it comes to you in double it's fine and if it does not, kindly move to the next game and try again or quit and give a rest for that day or week.
597  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: November 20, 2023, 08:26:56 PM
The difference between Manchester City and Liverpool is only 1 point. And these two teams are the most likely to win the title this season. And so this match is very important for both the teams. Liverpool need to get 3 points in this match if they want to take the top spot in the table.

Wait a second! You mean Liverpool will win the title season? Lmao! On what ground are you giving them that assurance just because they started well. I can say confidently for Manchester City and I will have some hope on Arsenal on some ground that they pulled some performance and this season as well but Liverpool is still early to decide that. I will only change my mind by if after the January transfer season and they still remain at the top 4, then they have my full support on that trophy level.

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In the last 5 matches between these two teams, Liverpool have won 3 matches and City have won 2 matches. However, Manchester City has dominated and won in the last two matches against Liverpool. Liverpool were relatively weak in the previous season, so it was easy for City to win. But this season the scenario is different. Liverpool team is very strong this season and they are performing well in every match. So it will not be easy for City to beat Liverpool in this match. Personally my favorite team in this match is Liverpool.

Even though I believe Liverpool will have difficulty in winning the league yet, hammering Manchester City will be very easy for them judging from their last encounters, those results weren't favouring Manchester City and since Chelsea was able to return all the pressure Manchester City gave them, it is possible to see the same magic again. However, in a second thought, do you think Manchester City will let's go of this one because Liverpool is coming to Etihad for this game and Manchester City will not take it lightly with them.
598  Economy / Gambling discussion / Re: Is this a good advice? on: November 20, 2023, 07:52:56 PM
I keep seeing gamblers advising themselves that you are one step closer to winning the jackpot when you quit too early,  it's sad that they strongly believe this.

Is this true?

This is not a guarantee to win anything but an encouragement and ginger for other gamblers that lose all the time. You know it's painful when you want to win but what to get all the time is loss and losses, there was time I use to uninstall my betting app many times and I end up installating it back, I'm my self motivation because I know I had to try again and that's how I was able to stop that habit, I never give up.

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This advice is actually making gamblers believe that they can win when they spend a lot of more time in the casino, they strongly believe that not stopping or taking break will bring them closer to their jackpot.

One of em told me that this is why I don't win, that I only gamble when I feel like, he said constantly gambling is a must if you want to win, but I disagree, because I have seen too many people not knowing when to quit until it was too late.

To me, gambling is a theater, a form of entertainment that I pay for, not a way to get rich quick, for them it's a must to win by force, one question seem to change his mood though.

I asked him why he isn't rich yet if he is actively gambling everytime since all this while, this changed his mood and I took a turn.

I don't really think there is anything misleading in making a buddy to believe, it's normal thing for people to cheer you up when you don't make it but still, the decision lies on what is in your mind. Even if they give you all the cheer up of not quitting gambling and believe that you have a winning spot awaiting, the rest is in your shoulder and what you do after that is up to you as a person.

Remember that whether you believe or not, if you play games and your prediction matches exactly the outcome from the casino, you will get paid in full whether you believe or not. As a gambler, what you should be after is sharping your skills and how to win next games.
599  Other / Beginners & Help / Re: Massive influx of scammers activity during the bull season. on: November 19, 2023, 06:06:22 PM
For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many  factors that posses these results of losses.

It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.

Where this discussion centered on bitcoin or they are just the casual shitcoin losses and scammers? Bitcoin is currently around $36k and let's say you bought bitcoin around $59k, the current price should be above -45% losses but I believe only few bought at that price because it didn't even last upto a month before that price crash downward.

The only way I think people might lose from bitcoin is through scam. Security come before anything in crypto, you have to value your seed phrase and private more than even the bitcoin you have because once the seed phrase is gone. Even the wallet to spend that bitcoin will be difficult. In addition, make sure it's protected from online platform, not even on online wallet like software wallets.

As for the other ways to loss money from crypto, avoiding shitcoins by all means, it's makes you stay hydrated all the time and immune to any bullshit scammers.
600  Bitcoin / Bitcoin Discussion / Re: Who's Raking in This Fee on: November 19, 2023, 05:38:43 PM
Hey there, could you help me out with this question? So, when we send Bitcoin from one wallet, like an Electrum wallet, to another Bitcoin address, there's this transaction fee, right? Currently, it's pretty high, and the miners are the ones benefiting from it, got that part. Now, in another scenario, let's say I purchased some bitcoins from a centralized exchange like Binance, and I need to send them to a cold wallet address. Again, there's a transaction fee. But who's raking in this fee: the miners or the CEX platform?

When you send transaction, the miners are been compensated for making it through and in return, the fee is not the only thing they get, they get the block reward + the transaction fees they compile all together in a block, that's how the miners make money from mining bitcoin.

For the centralized exchanges, when you buy bitcoin from them, what you get is not actual bitcoin but numbers, what they give you is data. It's anytime you want to withdraw they give charge you and when they do, it's not for them to use but use as fee to get your bitcoin to your destination address. Buts not all, there is a plot twist on centralized exchanges take fees from their customers. Let me explain;

When you withdraw bitcoin from any centralized exchange, their charges are constant fee even if the mining fee is below 10 sats per vbytes. They will charge you like 0.00038btc(from Binance exchange) which is around $13.5 when what they need to run your transaction might not be more than $3 and when they successfully send your transaction, they keep the rest of the bitcoin with them, you see the plot twist I was telling you.

When the fee get increased again, they increase the withdrawal fees more than what is required for you to run your transaction, that's how centralized exchanges work and milk their customers every blessed day.
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