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601  Other / Beginners & Help / Re: Is self-meriting possible? on: March 12, 2023, 10:57:22 PM
May sound silly but has anyone tried meriting themselves on a discussion they start. I noticed that the option to merit a post is still available on a post we make, I wanted to try it out, but I do not want to default, so I decided to come ask first.

Is it possible to merit yourself?
I didn't try it myself because I know that's an offense and could be punishable but I think that function isn't available to merit yourself even if it shows on your own post.  Think it over in the first place if that's possible, would you merit yourself even though you know that's not how the proper distribution of merit is?

Besides, it's easy to spot to anyone else that you possibly abusing the merit if it's possible can send it to yourself.
602  Bitcoin / Development & Technical Discussion / Re: Can anyone help me to understand coinbase transaction ? on: March 12, 2023, 10:37:15 PM
the guy explained it very well and most of the part of video i understood but i confused at this part "coinbase transaction"
For your confusion, here's an article which comes from Telegraph that explained very well the "coinbase transaction" it's a different term on Coinbase exchange that has a domain name of "coinbase.com" if you're confused.

Quote
how the coins are generated from air ?
I tend to agree with the above said, that's how miners work through their proof of work algorithm and that's not generated from the air.
There are too many terminologies in crypto that you might confuse about if you aren't familiar with them.
603  Bitcoin / Bitcoin Discussion / Re: What if a change in people's views? on: March 07, 2023, 11:58:09 PM
what are your thoughts on what if the majority of the population all of a sudden sold all their fiat and put it into a crypto? like BTC, do u think the system or part of the traditional finance system see some type of impact/disruption?
If the majority of the population suddenly sold all their fiat and invested it in cryptocurrency like Bitcoin, it would have a significant impact on the traditional finance system.  The sudden outflow of fiat currency would cause a drop in its value, leading to inflation, and might this would cause economic instability, leading to a loss of confidence in the financial system.

IMO, if a large amount of money is invested in crypto, it can lead to a massive increase in its value, causing a bubble that could burst at any time, leading to massive losses for investors and the sudden shift of investment from fiat currency to crypto would cause significant disruption and volatility in the financial system.
604  Alternate cryptocurrencies / Altcoin Discussion / Re: how exchanges list news crypto tokens on: March 07, 2023, 11:40:57 PM

i want to know,
how do crypto exchanges list new tokens, what terms and condition or what type of document are needed to list a token .
i really doesn't know anything so may be the written terms may seem off the points
I think you need first to visit the exchange terms and read them carefully because IMO, each exchange may have its own specific requirements and process for listing new tokens, so it is important to research the specific exchange you are interested in listing on and review their documentation and guidelines.  They will carefully evaluate the potential benefits and risks of listing on an exchange, and ensure that they meet the requirements and guidelines of the exchange they are interested in listing on.

Most of the common requirements could be these;
  • Legal and Regulatory compliance
  • Community and Market support
  • Fees and Costs
605  Economy / Trading Discussion / Re: Binance.US again in trouble | SEC continues to harass offshore presence on: March 07, 2023, 11:20:00 PM
It seems that Binance is facing more scrutiny from US authorities and IMO, this has a related issue with the FTX case.

If they do decide to take action against Binance, they will need to provide evidence to support their claims which is what I think they don't have yet.  In any case, Binance has the resources to mount a strong defense, as we've seen CZ the owner is very wise to make a defense towards his business.  It will be interesting to see how this situation develops in the coming weeks and months.

IMO, it's clear that there is growing scrutiny on the crypto industry as a whole, and companies will need to ensure that they are operating in compliance with regulations to avoid sanctions.
606  Other / Beginners & Help / Re: Motivating facts about bitcoin and its communities on: March 07, 2023, 10:53:03 PM
I appreciate your effort in spreading awareness about Bitcoin but it seems you talk a lot about the positive sides, how about the pros of Bitcoin?
They must also understand how crucial using Bitcoin is and risky it is, as the security and safeguard of the assets when holding this.

I like the way how you motivate people, in fact, that many people with a Bitcoin lifestyle or mindset are independent and self-employed is a testament to the freedom and flexibility that this technology can provide.  By embracing the principles of decentralization and individual sovereignty, Bitcoiners are able to take control of their own financial futures and pursue their passions and goals with a renewed sense of purpose and motivation.  I hope this is what I've heard for the future outcome.
607  Other / Beginners & Help / Re: Beginners - Keep your rooms clean, keep your backups ready to use & bring away on: March 06, 2023, 11:58:35 PM
It's the same as what happened to me the only difference is that you are lucky that you still find the paper backup in the garbage compared to mine where they already burned my backup paper.
That is why I decided to put all paper backups in a storage box that includes my important documents and I told them not to touch my storage box without my permission.
Storage boxes or let's say a metal vault might easily to spot from stealing.
This was what I suggested to my friend a long time ago, in your room if you have books, just place them there by the book and spread your private key per page, the book that has a strong cover.  A book also usually didn't mystically throw in the garbage.

It's essential to keep your backups in a safe and secure location that is inaccessible to others.
This can help prevent theft or accidental damage to your backup, which can be devastating if you need to access it in an emergency and if you find yourself in a situation where you need to quickly access your backup, you'll know exactly where to find it.  This can be especially critical during emergency situations when time is of the essence.
608  Bitcoin / Bitcoin Discussion / Re: bitcoin can't be rubbed on: March 06, 2023, 11:33:23 PM
Might they think that there was a lot of cash inside since it was an ATM, but they thought that it was like a traditional ATM like in the bank.
Poor bandit didn't even think that the transaction of the ATM machines is all digitally linked to their wallet or their bank, not unless for those who are using paper bills on purchasing Bitcoin.

So why would they be disappointed if they already get some cash?
This is the point of stealing and breaking the machine, get some cash, not the Bitcoin.
609  Economy / Trading Discussion / Re: Threads on local currency with bitcoin! on: March 06, 2023, 11:07:51 PM
It's sad to say but unfortunately, government policies can often be challenging to change or amend quickly.
You need to accept that it's hard to break the law not unless you'll transfer to another jurisdiction.

Thinking of this that might work on your side, how about using peer-to-peer trading platforms that are not directly linked to your local account? These platforms often offer more privacy and security, which could help you avoid potential blocks and seizures but of course, this will depend on the specific laws and regulations in your country and the level of risk you are willing to take.

By your last option, you can use this forum for the P2P transaction, and don't forget to use escrow.
610  Economy / Exchanges / Re: loss insurance Scam or Legit? on: March 06, 2023, 10:47:50 PM
Sadly a friend of mine was told about this exchange by a another "friend" so he invested a significant amount of money. Now that he wishes to withdraw it, they told him he needs to invest a minimum amount before they allow withdrawals, so he put more in. Then they say he needs to add another large amount for taxes before he can withdraw.
It might be good if you will create a thread on the scam accusation board once you have valid proof to warn newbies that might fall into their trap.
Sad to say your friend has been scammed, don't put more investment to increase the amount, accept your loss and try to spread awareness of that scam exchange.

This might be under the HYIP category scam.
Most commonly they promise high returns or guarantee money back with little to no risk, but in reality, they're designed to take money from unsuspecting victims and disappear with the funds. 

Just move on I think and learn from this costly mistake.
611  Other / Beginners & Help / Re: What is a P2P exchange? on: March 05, 2023, 11:35:41 PM
AFAIK, The term "middleman" refers to any intermediary that sits between two parties in a transaction.  In a P2P network, there is typically no middleman involved, as the nodes communicate directly with one another and this can provide a number of benefits, such as increased privacy and security, as well as reduced costs and greater scalability.

In my own understanding, the centralized exchange that offers p2p and the decentralized p2p exchange is totally different.
In a centralized P2P network, there is typically a central server or authority that controls the network and facilitates communication between nodes. Nodes in the network communicate with each other through this central server or authority, which acts as a middleman.
While on the decentralized p2p, there's no central authority or server that controls the network but instead, nodes in the network communicate directly with each other, without the need for a middleman.  Each node in the network is equal and has the same level of control and authority as all other nodes.

I think not all p2p exchanges are created equal, there are always pros and cons to each of them, and about CZ, there's a hidden agenda for all of these and one of our suspects could be the marketing which possibly gains benefits from his exchange which is very obvious.
612  Economy / Scam Accusations / Re: [SCAM] Coinwix.com Fake Exchange on: March 05, 2023, 11:05:34 PM
I don't know whether or not that means much and if we can trust BestExchangers and its evaluation.     
Regardless the reputation of this BestExchanger the fact it was labeled as scam by them and other users in trustpilot reviews makes it more clearer that its really a scam.
Because why wont they waste their time to review for a little to zero exchange. And it wont be the case as competitor negative review coz it doesn't have any reputation yet. That's why it makes more sense.
You have a point about this in the first place, but I tend to agree that some competitors may leave negative reviews but those well-known service platforms compete very well.  It seems it's unlikely to be the sole reason for a platform receiving negative feedback it might the best thing is to weigh the reviews against the platform's reputation, customer service, and overall performance.  We can't depend only on the Trustpilot review.

Here is a funny fact, the exchange platform mentioned above has an article on Tips for avoiding scams.
613  Bitcoin / Bitcoin Discussion / Re: Education is the key but knowledge is padlock on: March 04, 2023, 11:55:04 PM
That's a costly and valuable lesson learned, and it's great that you took the initiative to research and educate yourself on this experienced.
I'm sorry to hear that you lost money to your friend who was taking advantage of your lack of knowledge about personal passwords and keys to your wallet but I hope this doesn't stop it here your interest in crypto despite making this lesson to improve yourself.

Next time make sure to take extra precautions when it comes to personal passwords and keys, and never share them with anyone, no matter how trustworthy they seem.  It's crucial to always be vigilant and protect your assets.

Read this article, https://bitcoin.org/en, all language was in there that you can easily understand.
Here also in the forum, spend your precious time reading value pinned post topic that seems to educate you well regarding Bitcoin technology.
614  Other / Beginners & Help / Re: Misinformation about crypto (bitcoin). on: March 04, 2023, 11:42:23 PM
It's normal for someone to conduct research especially if fraud is very well known or especially with the prevalence of online fraud.
It's great to hear that you eventually decided to do your own research (DYOR) on bitcoin and discovered its many positive aspects.  It's true that more and more establishments and even governments are integrating Bitcoin into their financial systems, which speaks to its credibility and potential as a legitimate currency, not only establishments but also some countries accept it as a legal tender.

IMO, it's always a valuable experience to learn and grow in knowledge, even if it means admitting past misconceptions.
Best of luck on your Bitcoin journey.


Not misinformation actually, you got it wrong. There is no shortcut to earn money. We are less likely to lose our chunk of thought if we do our researching before investing in cryptocurrencies. We can better comprehend the risks and potential benefits associated with any cryptocurrency investment by completing in-depth study and analysis before taking decision. This can assist us in making better selections and lessen the possibility that we will decide to make impulsive or emotional investment decisions that we may come to regret.
Making informed decisions based on this knowledge can help us avoid making impulsive or emotional investment choices that we may regret in the future.  It's always wise to take a cautious and calculated approach to investing and to stay up-to-date on the latest developments and news in the crypto market.
615  Alternate cryptocurrencies / Altcoin Discussion / Re: Do you still hunt for airdrops? on: February 28, 2023, 11:53:59 PM
Quote
Do you still hunt for airdrops?
Yes, before but now, it isn't that much worth it and it seems wasting of time.
I will not generalize, there are some legitimate projects that use airdrops as a way to promote their token and build a community around their project.  In these cases, participating in an airdrop can be a way to gain exposure to a new cryptocurrency or token and potentially benefit from its future growth.

But most commonly fraudulent airdrops are designed to steal your personal information or crypto.  These scams often ask for sensitive information or require you to send cryptocurrency to receive your airdrop reward.  If you really wanted to join airdrop, be cautious of any airdrops that ask for personal information or require you to send cryptocurrency, as these are often red flags of a scam.
616  Bitcoin / Bitcoin Discussion / Re: Are you safe? Think again and be safe. [For newbies] on: February 28, 2023, 11:23:01 PM
As a general recommendation to anyone: just avoid talking to random people on Telegram and do not accept "help" or provide "help" to anyone, do not download any file and disable the automatic download in settings.
I tend to agree with this, I heard many reports that have been scammed through Telegram.
It might be unfair to say that Telegram is exclusively a "house of scammers" but it seems scammers have also found ways to use Telegram to carry out their activities.  They may create fake accounts, join groups, or send unsolicited messages to unsuspecting users to lure them into fraudulent schemes.  So yeah, avoid dealing with stranger people on Telegram and avoid opening unsolicited messages that possibly contains files that can attackers easily gain access to your device.
617  Other / Beginners & Help / Re: A question on transaction speed. on: February 28, 2023, 10:58:34 PM
Am I missing something, is the movement of bitcoin from one exchange to another faster that moving bitcoins from one wallet like electrum to another?

What determines speed of transactions?
It matters about these combinations.
  • Network congestion
  • Transaction fees
  • Block size limit

The speed of a Bitcoin transaction can be influenced by a combination of these factors, and it's important to consider them when sending or receiving Bitcoin to ensure timely processing.  The link shown above, always check the network congestion first before such a transaction so that you'll know the fee, usually, ain't in a hurry when making a transaction, and within an hour the transaction will be confirmed.

You can use also a free service of Bitcoin transaction accelerator service, I usually used ViaBTC.



618  Economy / Economics / Re: Would You Consider Adding Bitcoin to Your Retirement Savings on: February 28, 2023, 12:03:55 AM
Adding Bitcoin to your retirement savings could be a good option if you are willing to take on more risk in exchange for potentially high returns. It might important to remember that diversification is key to managing risk in your investment portfolio.  So, adding Bitcoin to your retirement savings should not be your only investment and the percentage of your retirement savings that you allocate to Bitcoin depends on your risk tolerance and investment goals.  IMO, it's recommended that investors allocate no more than 5% of their portfolio to Bitcoin or any other individual asset.

Adding Bitcoin to your retirement savings using the DCA method could be a good way to minimize the impact of market volatility on your investment.  It's a safe method of investing to deal with high volatility.
619  Other / Beginners & Help / Re: Reason for the existence of Bitcoin? on: February 27, 2023, 11:56:55 PM
I was really taking my time asking myself what is the purpose for  bitcoin existence, Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?
Learn how to read Bitcoin's Whitepaper, everything was stated there the purpose of Bitcoin creation.
If you can see the whitepaper suggests that Bitcoin was created to address some of the flaws in traditional financial systems, such as the high costs and long transaction times associated with traditional banking systems.  Bitcoin is designed to be decentralized, meaning that it operates without a central authority, like a government or a bank, controlling it and this decentralization makes it resistant to censorship and interference from third parties.  I hope you better understand this.

Anyone with an internet connection can participate in the Bitcoin network, buy and sell Bitcoin, and use it as a means of payment which is the mean core upon the creation.
620  Bitcoin / Bitcoin Discussion / Re: Do you accept ? on: February 27, 2023, 11:11:37 PM
So why did SEC now accepts that everything apart from Bitcoin is a security? This makes me smile that they keep Bitcoin out of the hook but is it true that all other crypto projects can be considered a security?

Well, to be clear, the SEC said that most digital assets can be considered unregistered securities, not everything. The SEC has a set of guidelines called the Howey Test, which is used to determine whether something is a security. If a cryptocurrency meets the criteria outlined in the Howey Test, then it may be considered a security. Therefore, it is not accurate to say that all other crypto projects can be considered a security, but rather it depends on the specific characteristics of each project and how they fit within the legal definition of a security.
The criteria of the Howey Test that SEC looking for and that consider Bitcoin if it is met to these criteria.
  • There's an expectation of profits from the investment
  • The investment of money is in a common enterprise
  • Should be regulated by SEC

But the fact is Bitcoin is for everyone and SEC is only on U.S. law.
Yeah, it's true that many crypto projects may be considered securities under U.S. law, but not all.  
The determination of whether a cryptocurrency is a security or not depends on its various characteristics and how it functions.
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