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7141  Bitcoin / Bitcoin Discussion / Re: Are small BTC transactions essentially “Wasted”? on: March 11, 2021, 07:32:03 AM
Lightning network usage should work perfectly for spending $1 worth of bitcoin, the transaction will be very fast and with very low amount of fee not worth more than $0.00005.

With mempool of 10 sat/vbyte on Sundays, with bitcoin at such high price of $56000, the fee will not yet be more than $0.4 (1 input and 1 output)

Note that wallets may not estimate the fee accurately at times, you can also check the fee on mempool, mempool.space is one of the recommended.

Onchain transactions are not for sending small amount of bitcoin, instead, it will be a waste of bitcoin on fee.
7142  Economy / Reputation / Re: I do not trust br0ken account on: March 11, 2021, 06:27:37 AM
<...>
I think the best you can do to clear yourself of the negative tags is to unlock the self-moderated thread and delete it. Then, you will have to create a new thread about it, do not make it self-moderated and do not lock it, make people comment. You will then have to create another thread about negative trust to be removed, if good reasons seen, it will be removed.

You have to convince ranked members first in a way to prove to them you are not trying to scam.
7143  Economy / Web Wallets / Re: login credential details with bitcoin apps on: March 10, 2021, 07:57:06 PM
1. Once i purchase bitcoins in my wallet these 3rd party applications like binance and coinbase can easily transfer your bitcoins to some other address as they have your user id and password stored in their centralized server using node or mysql. So what is the solution for this situation. can some one please explain?
In addition to what others have commented.

Do you have the private key to your funds on custodial exchanges? No, you do not even have any private key with them at all.

What is private key? Private key is used to unlock funds from bitcoin blockchain where bitcoin are stored.

Which means ones the bitcoin is transferred to custodial exchange from your noncustododial wallet, it means it is no longer yours on blockchain.

If the exchange is a scam exchange, they will run away with your bitcoin, no password or username needed, all needed is the private key, and of which they have it.

If the exchange is legit, they have the full control over your coins, they can block your account, they can freeze it or make other inconveniences like exchange under maintenance and inability to withdraw at the time.

Not you key not you coin.
7144  Other / Meta / Re: Save your nice merit records here - LAST UPDATE: 01/02/2021 on: March 10, 2021, 07:11:53 PM
Nice number of merits compared to number of activities is amazing

7145  Alternate cryptocurrencies / Altcoin Discussion / Re: How many confirmation takes Bitcoin Cash (BCH)tranasction on: March 10, 2021, 06:42:56 PM
i sent to coinbase
It takes 10 12 confirmations on Coinbase, wait until 10 12 confirmations.

https://help.coinbase.com/en/coinbase/trading-and-funding/sending-or-receiving-cryptocurrency/why-is-my-transaction-pending
7146  Alternate cryptocurrencies / Altcoin Discussion / Re: How many confirmation takes Bitcoin Cash (BCH)tranasction on: March 10, 2021, 06:25:01 PM
This thread does not belong here, move it to 'altcoin discussion'

Bitcoin cash takes 1 confirmation.

Where did you sent it to, if it is an exchange, you will need to read the terms of service about bitcoin cash on the exchange platform or on other platforms providing custodial service.

It can take 10 confirmations before an exchange will reflect it on your balance, it can even be 15 confirmations. But on noncustododial wallets, it takes 1 confirmation.
7147  Bitcoin / Electrum / Re: Can we stop recommending electrum for Android? on: March 10, 2021, 02:33:33 PM
Electrum wallet is best on computers as it support more features, but there are many people that do not have computers as Android phones are cheap and everyone is now using phone, for this reason, in the absence of no personal computer, using electrum on phone is not bad until you get a computer.

But, mobile electrum users must be more careful to not let their device install malware as phones are more often used online this era, also seed phrase must be accurately backup offline, the phone must be pin or password protected while the user must be very conscious and not trust anyone. Also, computers pose this risks too and must be avoided.
7148  Economy / Service Discussion / Re: App for mining on: March 10, 2021, 02:21:12 PM
I do not just check the app because it will completely be a total waste of time, when graphic cards can no longer mine bitcoin profitably, I do not know where you get your app from that will mine profitably.

Edited
Thanks for the correction mocacinno, no app can mine bitcoin.
7149  Economy / Service Discussion / Re: Why is the Beginners & Help section excluded from certain signature campaigns? on: March 10, 2021, 01:41:16 PM
I don't understand why some campaigns do not count posts there.... But yeah, probably not their target like ETFBitcoin said. I think it is sometimes the owner of the service doesn't want to promote among newbies.
Professionally, these may be the reasons.

But, I have not seen solid reasons than campaign manager boards of interest. I notice a campaign manager that do not allow posting in beginners and help for every of his campaign he is managing, and I have seen a campaign manager that always allow posting there. Even politics and society seemed like that, while I noticed a campaign manager that still allow posting in politics and society in every of the campaign he is managing. If we leave politics and society aside, I think beginners and help should count, but some campaign managers sees it as shitposting board.

I think this is more of the campaign managers work to choose by himself the boards he will count valid while I have noticed the ones that just do not like beginners and help.

I noticed signature campaigns for this, I may be totally wrong for altcoin bounties, but in that case, the reasons above may be the valid.
7150  Economy / Economics / Re: Why not "COVID" vaccine passports on a blockchain ID on: March 10, 2021, 11:23:51 AM
Ofcourse (at the bolded). 
In addition to that, a true Decentralized ID has to be privacy/anonymity friendly, ID private information has to be controlled/known by their owners alone, ID verifiers must not be able to store users IDs in anyway, etc

Decentralized ID Scheme has to unique and safer than the centralized ones.
You are almost totally correct except representing privacy for anonymity, they are completely different. The verifiable identity will only make privacy to be reality but it is not anonymous as the distributed ledger (blockchain) is not anonymous but private because only your cryptographic key can be used to access your vaccination validity. Anything anonymous is what anyone do not know about except you, so using it in this regard is not correct, but privacy is correct in this regard.
7151  Economy / Service Discussion / Re: Why is the Beginners & Help section excluded from certain signature campaigns? on: March 10, 2021, 08:07:01 AM
The best to do is to ask about this from campaign managers that exclude 'beginners and help' from signature campaign posts to posts that will count. I have noticed some campaign managers, some accepted it while some did not. Beginners and help in my opinion is significant in campaigns but the reason I think is that campaign manager may think beginners and help is full of shitposts, if proper look is taken into it, it will be seen otherwise, that is why some campaign managers just still do include it often.
7152  Bitcoin / Bitcoin Discussion / Re: China Controls Bitcoin's Future on: March 09, 2021, 11:29:56 PM
Since most of Bitcoin is mined in China
In 2019, 75% of bitcoin are mined through miners based in China, this reduced to 65% in 2020. In 2021, I expect more reduction as more countries are getting to favour bitcoin mining.

Since most of bitcoin is mined in China and depends on China's energy
Bitcoin mining does not depend on China, anyone can mine bitcoin. It is the other way around, Chinese bitcoin miners depends on bitcoin.

do you think it is possible that Bitcoin will become centralized, with China becoming the authority?
Bitcoin is built with open source codes, also decentralized in design, not and can not be controlled by China.
7153  Bitcoin / Electrum / Re: bitcoins lost after recovery with seed on: March 09, 2021, 06:20:54 PM
and then there was zero credit (with an exit equal to the original amount).
Did you mean after you imported your seed phrase, you saw a transaction in which all your bitcoin has been sent out of the wallet?

If you did not see such like that, then you will have to make sure your electrum wallet synchronize, at times it may not synchronize very fast and take some seconds and appear 0 BTC before synchronizing.

Also, make sure your wallet is connecting to the internet, if not connected, it will not be able to synchronize with the blockchain.

If you saw a transaction in which all your bitcoin has been sent out of the wallet, it means your wallet has been attacked, either someone knows where you store your seed phrase most likely, or malware on your device reveals the seed phrase to attackers.
7154  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Atomic Swaps or Decentralized Exchanges? on: March 09, 2021, 05:46:45 PM
<...>
I think I pasted a link above, most or nearly all your questions will not be asked if you have gone through it. You can use the link the know the coins and their trading pairs on exchange exchange listed. Binance dex is also included.

https://coinmarketcap.com/rankings/exchanges/dex/

Can I trade erc20 tokens on the Binance chain to save on fees?
No. Binance smart chain is entirely different, but there are wallets that make you to have access to Dex while some will support ERC-20 and some BSC together. But, you can not trade tokens on Ethereum platform with the ones on BSC and vice versa.

BSC comes with lower fee than ERC-20

Wrapped bitcoin is erc20 bitcoin right?
WBTC is ERC-20 not BSC, but it is possible to also be on BSC, but I do not know of recent. While using any exchange, you will be able to differentiate between ERC-20 tokens and BSC, which means it is not a problem.

About Changelly, it has email required, you will use it as a third-party on reputed noncustodial wallet, in this case, no email required than addresses.
7155  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: NIN & Local board} on: March 09, 2021, 02:44:53 PM
@Charles-Tim, Baba Which site person fit get the mining machines and how much on estimate using the current Dollar-Naira rate e fit cost person?
I have tested out some sites online to check for mining products, especially ASICs, specifically Bitmain Antminers. I found AliExpress looking more promising, the company is also owned by Alibaba Group which is based in China, I see the company to be one of the best sellers of such miners. You can check the site out, but ASIC are expensive, although the old ones like S9 are not that expensive, but consume more electricity than usual, it can be alternative forgo but I only see the new miners on the site.

You will need to check out the miners yourself on the site in which the hashrate generate are included
https://mbest.aliexpress.com/m/promote.htm

I have also heard that Antminers can be ordered directly from bitmain, but I do not see any product available on their site, you can in this case make use of their customer support for any solution.

Note: I have not ordered for any miners before, also you may like to purchase Graphic cards for altcoins, but for Bitcoin ASIC are better, try out AliExpress.
7156  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: NIN & Local board} on: March 09, 2021, 09:35:22 AM
Nigeria no be country for mining except the miner get another means to generate him personal electricity and security. That go even too dey expensive to maintain. Untill when government need make him improve electricity supply and availability of security personnels, a lot of things go still dey pass us by.
Nigeria has issue of power generation and transmission, check these statistics


https://www.bbc.com/news/amp/technology-56012952

Nigeria is not even among the first 30 countries that generate most electricity in the world while South Africa and Egypt are still among.

Population estimate as of 2019 amount the three Africa countries

Country                 Population Estimate         Power generaion
Nigeria                         200,963,599                     11,165 MW
South Africa                58,558,270                       58,095 MW
Egypt                            100,388,073                     24,700 MW

I do not know how recent this is:
Nigeria has 12,500 MW of installed generation capacity, being largely dependent on hydropower and fossil (gas) thermal power sources; 12.5% and 87.5% respectively. Although it is important to note that currently only 3,500 MW to 5,000 MW is typically available for onward transmission to the final consumer.

See how too African countries have low power generation, while Nigeria that has the highest population generates lowest among the three and not seen in the list of first 30 in the world.

That is a shame on Nigerian government as corrupt as they could be. But there are still some towns that have good electricity supply in Nigeria because electricity is not even/equally distributed in which those towns can favour mining.

Any miner dey dis country self I doubt, me don reason am tayahh if by God grace I mistakenly get my hands on mining equipment e don be for all miners for oyibo oh. The electric something no go be problem, we go go illegal although for this side na indigene something nobody go reason you. Where problem fit dey na to learn am but we go still run am, abi no be just computer pressing something lol.
I think learning it is not that hard, but I think the problem na because Naija no know much about the mining aspect, and because no miners manufacturing in Nigeria that can bring exposure and easily making people go into thinking about mining. If having good electricity, I too go with your idea.

Wetin be bitcoin problem self, e no wan fall small make we use our useless naira wey dey bank buy, e dey pain me ehh. Now e dey $50k plus. E no dey even carry e brothers along well, e just dey show dem small small love no major rubbers.
E go dey hard for bitcoin to decrease. Recently (like almost two weeks or a week ago now) was a report about exchanges bitcoin volume decreasing and whales moving bitcoin to wallet, recently was a report the volume of exchanges decreased by 20% in 12 months
https://cointelegraph.com/news/the-number-of-btc-held-on-exchanges-crashed-20-in-12-months/amp

One of the biggest trends in recent months has seen Bitcoin flow out of exchanges into wallets. Generally, this is interpreted as a bullish sign — indicating that investors are optimistic about further growth in cryptocurrency prices.
7157  Economy / Reputation / Re: My account, a year old today on: March 09, 2021, 08:31:55 AM
<...>
Your congratulations really worth it, I know how merit can be difficult to give as even there would have been some good posts already on ground to merit, I understand even if no merit awarded me. I know you as a scam and spam buster but you always speak good of me which is a significant reason many other people to believe in my work on this forum, I appreciate your kind words.

1 year, and almost 1,000 Merits? That's some impressive feat man! Smiley
No other reasons behind it than following the rules, having passion for bitcoin and this forum generally which also helped me to know how to use bitcoin safely and ways to avoid scam.
7158  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Atomic Swaps or Decentralized Exchanges? on: March 09, 2021, 01:09:44 AM
Which atomic swap service is the best out there that allows you to sell your popular common crypto's for dai?
You can check the link below for first fifty decentralized exchanges, you can click on each to see the coins with the highest trading  volume, coin pairs, volume, price and volume percentage. PancakeSwap3 will be good for Dai swapping, but for bitcoin exchange, Bsiq will be the best as most of these exchanges are not supporting bitcoin.

Most of these exchanges are ethereum based, if you want the ones that are general, you can use Changelly (but some cases in the based in a way they demand for kyc), or CoinSwitch.

https://coinmarketcap.com/rankings/exchanges/dex/

Are decentralized exchanges same as atomic swaps?
Decentralized exchanges are the platforms. Atomic swap is the service decentralized exchanges are offering. Atomic swap is a smart contract that fulfills trades between two people without the need for any third party. Athough, the definition is not totally fulfilled by the exchanges that are providing such services but the true ones do make sure they are completely decentralized without requesting for KYC.

Do both of these services have to comply with tax regulations and KYC? If not then can governments ban them or shut them down?
This can be the fear that government may ban such services, but this has been impossible as they even seen significantly growth in 2020. They have nothing to do with tax as they are Decentralized.

Which is the best decentralized exchange out there?
Using the link above to check will be good. For bitcoin users, Bsiq will be preferred. For ethereum and its tokens, Uniswap, PancakeSwap and some others will be preferable. For Binance coin, Binance Dex and BurgerSwap will be preferred. For exchanging from one big coins to another like bitcoin, ethereum, tether, Dai, litec and many such coins, Changelly and CoinSwitch will be preferred.
7159  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: NIN & Local board} on: March 08, 2021, 08:40:13 AM
Charles, I don't know about you or the opinion of others about the issue of regulating cryptocurrencies in Nigeria. I no just badu the idea. Wetin I dey try talk be say, we all got into crypto because of the the financial freedom along with privacy that was promised. Accepting to be regulated will make it look much more like traditional financial service providers like banks. Coz CBN go define limits, rules and even punish defaulters wey go against their regulations. Na why I just dey talk say e no too fresh. Well anyhow e be, we go still survive.
There is no better option than to regulate cryptocurrencies in Nigeria, else if not regulated, it will remain banned. Rugulating it does not mean we will not have the freedom you are implying, we can still make use of our wallet for such for privacy, also p2p can not be stopped because it is beyond the reach of any government to stop the use of p2p. All needed is to have the full ways to have the privacy we want, irrespective of the country we are, we can still privately make use of cryptocurrencies.

Like now, we using cryptocurrencies not need help to buy or sell irrespective of ban or no ban as p2p is difficult to deal with by governments, but we just need cryptocurrencies to be accepted in Nigeria for other reasons, like the boom in crypto ATM companies in Nigeria, while we will still find many ways around to have the privacy we want.
7160  Bitcoin / Hardware wallets / Re: Steps To Take If You Believe Your Seed Has Been Found/Compromised? on: March 07, 2021, 11:26:36 PM
I believe the question has been well answered.

Also would you send the whole balance at once or you try to break it into two or three transactions?
For privacy reasons right? You can split it if you want, but the more the transaction fee.

But assuming you never send any btc from your hardware wallet to your coinbase or gemini or binance account, well there should be still no concern right since well when you logged in, they tell you this is your btc address.
Noncustododial wallet will be the best if you need privacy.

But with how expensive sending btc is now... is it worth just to test it out in case a situation like this arises?
To know the feerate (sat/vbyte), you can use mempool.space/ to know the fee you can pay to get transaction confirmed in a block fast.
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