Wetin you talk so na actually true, but make we no also forget say e get ways too wey e no favor Nigerians too. For example, this one wey fee don really high like this, the thing go really worry plenty people as them no go too see Bitcoin the way them been see am before. Especially for people wey no get plenty money for Bitcoin. Just imagine say them wan send small money via Bitcoin, them come sama them better charge. E just be like that time wey naira come scarce, wey if you wan withdraw small money from POS, them go knack you charge wey almost reach the money you wan withdraw. So the thing dey affect, not just us wey be Nigerians but every other people wey dey use the Bitcoin.

Hahaha Smart Move. Definitely the last place a thief would think of going, well except they're already informed there's something precious there. How about those that don't have a physical bible, where would you suggest they hide theirs?

Hello everyone

Hope y'all having a wonderful day. And so I was doing some research about the best way to store your Bitcoin Pass phrases. I know a lot of people do not really think this is that important because you can simply just copy out the phrases and just dump it in your diary or on your notepad, or maybe on a piece of paper and hide it somewhere in your room and then just assume it's safe there. Well I used to think so too, not until I come to realize that storing up and securing your phrases is actually the primary thing in the Bitcoin journey and a lot of Bitcoiner are quite ignorant of this fact.

I began my search as I surfed the web and also checked forum too. Then I bumped into a thread by @fillippone which literally contained the answer to my questions. He spoke about storing and securing your phrases through what's called a WASHER. didn't have a clue what that meant so I had to dive in to take a look. Honestly I was quite fascinated and think everyone should take a look at his theory because it's important everyone know about the safest way to store up your phrases and keep them away from intruders.

According to Jameson Lopps, he said in a tweet "Most folks figure an Evil Maid attack will never happen to them because they don't have a maid. Yet nobody ever expects the Naive Child attack..." You never can predict where the attack might come from so it's important protect yourself and avoid it.

I also followed a link on the thread that led me to an article by Jameson on how to also choose the way to back up my phrases. On the article I bumped into something that kinda cracked me up. I couldn't stop laughing for a while after reading this because I found it really hilarious. Image below.





Well, the reason for this thread is to offer some sort of guide to anyone who's also asking questions about the best way to back up your phrases.

For me I really don't think it's a bad thing creating some sort of awareness about Bitcoin. In one way you could also be helping some persons too in the sense that, by flagging a Bitcoin inscribed clothing, you're simply creating a harmless awareness about Bitcoin, and you never can tell, you might just have someone there who's got interest in Bitcoin but don't know where to start or who to ask, if such a person happens to meet the wrong person, then we know how that would probably turn out. But when such a person sees you, without hesitation, he'd simply ask you and make his inquiries from you, and that way you'd be helping such a person by just wearing a Bitcoin inscribed Clothing. Just like every other things, whatever has advantages also has its disadvantages. But I don't think there's any point hiding what you do, bitcoiners are not criminals that should be hiding in the dark. Soon enough, Bitcoin would be taking over the economy and we can't do that trying to hide in the shadows and afraid to make people know what we do just because we're afraid of being preyed on by scammers. Whether you're a Bitcoiner or not, if you put yourself in a compromising position that scammers could easily take advantage of, then without hesitation, they will.

You do make a valid point, although wrapped tokens are more like a way to use a particular cryptocurrency on other Blockchains, but they pretty much don't allow you to use smart contracts or other decentralized applications.

Yes the 51% attack aka majority attack has been proven to be another vulnerability and a threat to Bitcoin (if actually pulled off) because it would grant an individual more than half of the Bitcoin computing power, be able to create new blocks, and sources proved that it could even grant them access to even reverse a transaction. LoL I wonder the crazy genius that even came up with such a theory.

Although, inasmuch as it's actually possible to pull it off, it's really going to require lots of resources and expenses, making it very difficult to pull off.

I think all these tx fees saga came up as a result of the introduction and existence of this shitty ORDINAL TOKEN. The token is taking up more than enough space on the Blockchain, contributing t he overall demand for transaction space thereby making the tx fees to automatically go up.

Well, I don't know exactly from which angle you question is drawn from but if you're to ask me, I'd say you're asking an impossible question, the chances of Bitcoin crashing are very slim, too slim that you'll need a microscope to see it. But to answer your questions.

1. WHAT WILL HAPPEN IF BITCOIN CRASHES.

In my opinion. Just like said earlier, the chances of Bitcoin crashing are very slim because the framework of which Bitcoin was built is very solid and makes it almost impossible for Bitcoin to experience a total crash, although Bitcoin has experienced price crash in the past years, such as in 2011, 2013 and 2017, but it has always escaped a total crash and found its way back to the top again, so that's why I'm confident that it's almost impossible for Bitcoin to crash.

But however, if Bitcoin were to crash today, it would really shake the fate of Altcoins because we already know that Bitcoin remains the father of other cryptos, so the failure of Bitcoin would cause an immense amount of tension in the crypto market as other investors and would be forced to sell off their holdings.

 I also believe it would make the government have enough reasons to interfere in the crypto business  by making certain regulations to the market with excuse of protecting investors and to prevent similar crashes from occuring in time to come.

Again I feel it's going to make make investors loose confidence in other crypto projects as it would be impossible for them to go ahead and invest in other crypto projects because of the fear of the project crashing like Bitcoin, because people believe if Bitcoin can crash then other Altcoins is able to do the same so it would really affect the crypto market so badly. And of course we know that people would loose billions and trillions of dollars if Bitcoin is to crash to, which of course would send so many people and business into eternal doom, so if Bitcoin goes down, it's definitely taking a lot of people and businesses with it.

2. CAN GOVERNMENT SHUT BITCOIN DOWN?

First of all, let me point out that one of Bitcoin's super powers is being a decentralized Asset, which makes it difficult and impossible for the Government to interfere in the affairs of Bitcoin, so they lack jurisdiction or any judicial right to shut it down entirely.
 Again, even if the government of a particular country is to place a ban on Bitcoin, it would still be in use or a legal tender in other countries and lastly, the Blockchain technology that powers Bitcoin is an open source and can be replicated by anyone at anytime so even if Bitcoin is seized by the government, someone out their can still create another version of Bitcoin without breaking a sweat.

3. CAN HACKERS SHUTDOWN BITCOIN?

Well, theoretically, it's possible for hackers to hack the Bitcoin network but the chances are very slim as it's almost impossible to do so, I say this because Bitcoin is controlled by a network of nodes or computers which are distributed around the globe so for a hacker to be able to successfully hack the Bitcoin network or short it down, he'll need to take control of at least more than half of the nodes which of course we know is almost impossible. But even if the hacker succeeds to actually take control of a good number of those nodes, the Bitcoin network could still be forked and go back to using the actual Blockchain so th3 possibility of Bitcoin being hacked or shut down by hackers are technically Almost impossible.

You're not really sure of you're scammed, you should have at least waited till you got your feedback and if the feedback isn't positive then you can come right here and make your report/claim. I think your decision was rather too hasty, this could just be a minor technical malfunction which happens all the time and could easily be rectified by just bringing it to their notice.

I've observed similar cases in the past which were resolved amicably. So for now, you've raised a false alarm because you're not yet sure if you were scammed.

Okay OP, I appreciate your concern once again, I go fully take note of am, and next time I go just quote am instead of to write am down. Like I talk before, na everyday person dey learn, I don learn new thing today too and I go dey apply am for subsequent encounters in the future to avoid any form of wahala and gbas gbos

Yes OP I get wetin you mean, and I fully dey aware of the rules guiding the forum, even if I no Sabi all, at least I know say to tif another person post without at least making reference to the person or making reference to a link na plagiarism. But e no dey possible to plagiarize my own content since na me be that original author. This thread and that thread na just dey talk the same thing, so instead of to come dey type everything from beginning, I had to just copy the reply and paste am here, because I feel say na good starter pack for newbies. And I come do minor adjustments too and other stuffs. But thanks for your concern and advice too OP. You're well appreciated.

First of, you're highly welcome to the forum, as a new bitcoiner, joining this forum is a good start to aid you in your Bitcoin journey and adventure. Although this forum is more of a decentralized forum as your personal informations should stay with you, such as your real name and so on, so be guided.

Secondly, as a new bitcoiner, I might have some important tips that'd also be of help to you, I'll quote myself in a comment I made on a similar Thread in the Beginners And Help Board

You can also Click here to get all the tips and guides you need as a beginner and a newbie on the forum and as a Bitcoiner.


1. LEARN ABOUT BITCOIN
you need to learn as much as you can about Bitcoin, you'll not be told everything here so you can't rely on one source to learn about Bitcoin, read books, watch videos, look for helpful articles and PDFs that'll give you more insight about Bitcoin.

2. START LITTLE
If you ever feel that with the knowledge you've gathered, you're ready to start investing in Bitcoin, as a newbie I'll advice to start with little amount until you've really understood the market then you can put in more money.

3. KNOW THE NATURE OF BITCOIN
You need to be familiar with the fact that Bitcoin is a very volatile asset so before you start investing you need to be ready for the ups and the downs. Sometimes you'll experience a DIP, in times like that you should remember that there has been times in the past that Bitcoin has experienced even greater DIPS to help you overcome the fear and anxieties of a DIP and to also help you make the right decisions of never selling during a DIP, and also when you experience a Bullish Trend in Bitcoin, you shouldn't always expect the market to always be like that, else you might end up being disappointed.

4. STORE YOUR BITCOIN SAFELY
I'll also advise that you look for a very safe wallet to store your Bitcoin, such as a Hardware Wallet. ( Highly recommend). Because that's the primary thing, if you're jeopardize the safety of your Bitcoin then you jeopardize everything as well, including the safety of your investment.

5. WATCH OUT FOR SCAMMERS
Scammers are working tooth and nail everyday, coming up with new strategies and innovative technologies just to swindle people's hard earned money so you need to equip yourself with enough knowledge regarding how to avoid being scammed because if you're not careful you can loose your funds to a scammer in a twinkle of an eye.

6. LEARN HOW TO DCA
DCA simply means Dolar-Cost Average. As a Newbie, you might feel Bitcoin is very expensive now and hard to invest in, if you're thinking that then DCA method is for you, with DCA you can store up enough Bitcoin without breaking a sweat. It's process where you simply a bit of your income, be it on daily, weekly or monthly basis, you can choose a percentage of your earnings and use it to buy Bitcoin, just like putting money in a piggybank and before you realize it, you must've saved up enough Bitcoin for yourself, rather than waiting to have the money in bulk before you can invest.

And it's never too late to invest in Bitcoin, everytime is the right time, so if you have plans to invest, don't let anything stop you from joining the moving train.
There goes, I hope these tips would be of help to you.

 

You're welcome to the forum, I'm also very new to the business, but still a bit older than you so that puts me in a position to give you some pieces of advice. My few weeks on the platform has really changed my vision and thoughts about things, I've learned a lot, although still have more to learn because we learn evryday and learning never stops. I can't teach you everything about Bitcoin because I myself don't know everything but from the little I know, I believe I can give some good tips as a newbie in the Bitcoin adventure.

1. LEARN ABOUT BITCOIN
you need to learn as much as you can about Bitcoin, you'll not be told everything here so you can't rely on one source to learn about Bitcoin, read books, watch videos, look for helpful articles and PDFs that'll give you more insight about Bitcoin.

2. START LITTLE
If you ever feel that with the knowledge you've gathered, you're ready to start investing in Bitcoin, as a newbie I'll advice to start with little amount until you've really understood the market then you can put in more money.

3. KNOW THE NATURE OF BITCOIN
You need to be familiar with the fact that Bitcoin is a very volatile asset so before you start investing you need to be ready for the ups and the downs. Sometimes you'll experience a DIP, in times like that you should remember that there has been times in the past that Bitcoin has experienced even greater DIPS to help you overcome the fear and anxieties of a DIP and to also help you make the right decisions of never selling during a DIP, and also when you experience a Bullish Trend in Bitcoin, you shouldn't always expect the market to always be like that, else you might end up being disappointed.

4. STORE YOUR BITCOIN SAFELY
I'll also advise that you look for a very safe wallet to store your Bitcoin, such as a Hardware Wallet. ( Highly recommend). Because that's the primary thing, if you're jeopardize the safety of your Bitcoin then you jeopardize everything as well, including the safety of your investment.

5. WATCH OUT FOR SCAMMERS
Scammers are working tooth and nail everyday, coming up with new strategies and innovative technologies just to swindle people's hard earned money so you need to equip yourself with enough knowledge regarding how to avoid being scammed because if you're not careful you can loose your funds to a scammer in a twinkle of an eye.

6. LEARN HOW TO DCA
DCA simply means Dolar-Cost Average. As a Newbie, you might feel Bitcoin is very expensive now and hard to invest in, if you're thinking that then DCA method is for you, with DCA you can store up enough Bitcoin without breaking a sweat. It's process where you simply a bit of your income, be it on daily, weekly or monthly basis, you can choose a percentage of your earnings and use it to buy Bitcoin, just like putting money in a piggybank and before you realize it, you must've saved up enough Bitcoin for yourself, rather than waiting to have the money in bulk before you can invest.

And it's never too late to invest in Bitcoin, everytime is the right time, so if you have plans to invest, don't let anything stop you from joining the moving train.
There goes, I hope these tips would be of help to you.

You've highlighted very notable and helpful points, but on thing about addiction is that, at that point nothing else matters other than what you're addicted to, when a gamblris addicted, even when he realizes he needs help, and he's given some tips that'd help him fight the addiction, sticking to those tips is another battle, maybe he can try to do it for he first and second day, but that's it. So here are some points I feel would also be helpful to help fight the addiction faster.
1. AVOID BEING ALONE
You're likely to thing about doing things you're trying to get away from when you're alone or lonely, s try always being around people and friends ( who don't encourage gambling) they say you're likely to be like who you hang around with, so always handlg around people and avoid being alone at all time, except you're alone busy with something.

2. LOOK FOR A NEW HOBBY
You got addicted to gambling because you got too attached and used to it, so changing your hobby and finding something else tht excites you would really help you in getting rid of your addiction quickly.

3. GET A TRUSTED PERSON TO MANAGE YOUR FUNDS
If you're addicted to gambling, another way that can help you fight the addiction is looking for someoneyou trust to help you manage your funds, it could be your colleague at work, your secretary, your spouse or anyone you trust. That way you don't have easy access to your funds and can't gamble at will.

These tips could also be helpful

See this country don already go, no be today wey corruption start for this country and no be today e go end,  how them wan take stop am when e be the same people wey make those laws wey supposed guide this country na him be the same people wey dey break am. Abeg the country don scatter, make everybody just try their best to fight their way out of poverty make you fit secure you and your family, because If we depend on government to clean their mess, e no go work because corruption no fit end for this our country abeg

I figure out say for this our industry, wetin dey mostly kill people and wetin dey mostly make people fall victim to all these cheap scams nah GREED. People just too get big eye and scammers don notice am so them go use am as advantage and if you no take time, you go fall for those their chap scams. Else I no see any reason person why person go carry exchange market comot for he exchange. Come dey chat you outside the exchange. Your first approach first nah to go report that trader for that exchange, block am for WhatsApp after you don seriously warn am make him no ever contact you again.

The only reason them dey ask for number during trading na just to take precautions, just Incase person delay during the trade, maybe them don pay you and you no come gree release crypto or maybe you don pay the person and the person dey delay to release crypto give you, e don finish, no be to carry exchange matter comot for exchange. Anybody wey do like that, e wan swindle you.

So whether newbie or not person no supposed tel you say this kind thing nah scam them wan scam you, anything crypto na money matter and people supposed dey handle am with discretion and carefulness. No dey carry greed dey follow matter like this, nobody be father Christmas, everybody dey fine money, and if you loose guard you go collect, that small one wey you get, them go collect am from you.

I was on my phone today reading some article when I got a pop up notification from the X app ( Then known as Twitter) and the content of the notification made me pause to look at the notification and check if this was real or maybe it's  someone just tryna messing with people online. I further looked up the information and found out it was real. I mean why on earth would someone pay 83.65 BTC ($3,136,058) in transaction fees on the Bitcoin network? Which is typically 120,258 times more than the actual fee of 0.0007 Bitcoin ($26.66) for a transaction. I keep asking myself why in earth would someone do that because it doesn't make sense why a user would pay such an enormous amount for transaction fees. Could it have been an error when setting the transaction fee or maybe it was a deliberate attempt to manipulate the Bitcoin Market because this Scenario has currently sparked lots of discussion in the Bitcoin community if it was indeed an error or a deliberate attempt to manipulate the market.

Well I wouldn't know the reason for the action and that's why I brought it here if anyone would provide a more logical reason that led to this action.

First of all, I'm not putting my bet or trying to defend Binance, my theory is coming from a neutral perspective. Whatever Binance is doing isn't any of my business. And I'm not trying to defend or side anyone. Once again my theory is coming from a neutral perspective. My argument is on the ground that Binance has the resources of withstanding the pressure of this particular disaster that has befell her. I'm not saying Binance isn't above crashing just like FTX. Yes FTX back then may have shared striking similarities with Binance and nobody believed it would go into bankruptcy and crash in 2022, I've looked into the case file of FTX as well and I can say that if Sam Bankman-Fried of FTX was charged for money Laundering and fined a few billion, then FTX would still business. But come on, A surge of customer withdrawals, due to concerns over the questionable financial valuation practice and unusually close relationship with Alameda, and loosing over $1Trillion would throw any solid company off balance and cause them to crash.

Again my claim is that, this whole money laundering scandal isn't enough to throw Binance into that ditch as FTX. Yes maybe some day Binance's time will come to go down, but this isn't that time because they have more than enough resources and facilities to make it out of this one. Again, I'm not saying this because I'm siding Binance or I'm trying to defend them. No, this is simple logic coming from a neutral perspective.
Call CZ a greedy bastard, I won't dispute that fact or argue it, they're all hungry for control and power, true. I totally agree with you on that one. And if there's another thing I'll agree with you, it's the fact that this is definitely not that scenario that will throw Binance into bankruptcy, (logically speaking) absolutely not. Maybe when that time comes, we'll all rejoice together  .

Exactly my point, they're offering the same services other CEX is offering so the big question remains why they were able to monopolize their business while not doing anything special or different from what their opponents and competitors were doing. Monopoly is very strong marketing tool and not everyone can take advantage of it, correct me if I'm wrong, it takes resilience and extreme innovative insight to be able to monopolize your business in the midst of your competitions, it only means Binance wasn't just lucky, there was a brain behind that. And keeping the business in shape and ahead of other competitions requires another level of work. Meanwhile I didn't say it's impossible for Binance to crash, I said it's almost impossible, and it wouodbtake more than this conspiracy to take it down. Taking down businesses with this structural framework would be from the inside and not the outside, with the scale of 1 to 10 if I'm to rate Binance's chances of crashing within a couple of months as you implied earlier, I'd rate 2. The money Binance was fined was also for the investigation to be discontinued if I'm not mistaken, and Binance on the other hand being fully aware right now that there's a loophole in their end would go extra mile to make sure the loophole is covered. So I doubt that further implicating evidence would surface that would result to Binance's final take down.

And yes I may be a Newbie on the forum and I admit that I have a lot to learn from OGs like you, but regardless that fact, i believe that no man is a monopoly of knowledge, I do my findings so to help me argue with fact and not fallaciously (if there's a word like that) before I joined the forum I believe I have somewhat level of knowledge about Bitcoin and I came here to broaden the knowledge and learn more. I argue to learn and change my current mindset if I'm convinced beyond doubt so I shouldn't suppose my current rank should be equated with my capacity of knowledge about Bitcoin.

I still believe that this scandal isn't enough to pull Binance down, well time would tell if Binance can withstand the hit or if it'll collapse within a couple of months as you've predicted. Like @JayJuanGee would say, I'd like to go on a friendly bet with you on this issue, but unfortunately for me, I don't have the luxury of going on friendly bets.

Your philosophy and prediction is a solid one, but let's not also forgot that, CZ promised that he is only stepping down as CEO (which was a smart move in giving the the face of Binance some sense of dignity) but still very much accessible to the company, which would give the investors who came because of him and who trust in his government more confidence and reason to still stay ( that's another smart move) so my guess is that, behind closed doors CZ is still the CEO of Binance as he is still running the affairs of the Exchange while Richard Tang is only wearing the CEO coat in order to lure other investors who have lost trust in CZ and we're about to leave. Seeing that Binance has a competent representative as the next CEO, would believe he possesses the capacity to manage the affairs of the exchange and stop it from crashing, which would give them more reason to stay.

So with CZ still partially in the picture, I have a strong believe that The affairs and operation of Binance would still be Business as usual. The only set back they would face now is the huge amount of money that went out of the company due to the fine, as well as other investors who wouldn't wanna give Binance the benefit of doubt. Asides these, I strongly believe Binance has a nice shot and they have the resources to keep up with the pressure until they're completely out of this mess. Binance isn't Number one global CEX for nothing, they didn't just get there by mere luck or because they're fortunate, it shows that they have a very strong team and men of experience under their sleeves, so completely taking down Binance would be almost impossible in my own thoughts. I stand to be corrected though.