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781  Other / Beginners & Help / Re: Understanding Crypto wallet and traditional wallets for beginners on: September 07, 2023, 07:09:57 AM
I would say it is almost the same if we reason it logical. The crypto wallet could easily be said to be a digital one but we all know that once anyone gets access to the wallet they get access to the funds or items in it. Same thing applies to crypto wallet too, even if the bitcoin is stored on blockchain with access to the wallet you get those coins stored there. The clear difference is when someone even gets access to your keys they can easily even steal your funds without access your wallet like the traditional one that needs to be in there possession

So the way the traditional wallet needs to taken care of same way the digital wallet also needs to be secured because it is the gateway to your funds and that is why it is even password.
782  Other / Beginners & Help / Re: Which is safest wallet for bitcoin long term holding? on: September 06, 2023, 08:05:42 AM
Hello guys with several wallets out there, I want to be sure make the right choice, because I have seen posts were members of this forum are complaining about some wallets and exchanges because of their unprofessional behavior.
So my question is, apart from electrum wallet which other wallet is the safest for long term holding of bitcoin?.

Definitely a hardware wallet is the best option for a long time hold. Read about other bitcoin wallets -which, what and why

With the current reduction of price in Bitcoin, is it the best time to buy bitcoin or should I still wait for the dip?.
Though I have seen some post talking about "buy now or wait for the dip" but the debating answers got me confused, so I need the final clarity from you guys.

I would say you should go ahead to buy right now if you have the funds at hand. The best strategy will be to do DCA with the way the price is going up and down. Waiting for the right time to buy is something I wouldn’t advice because we never might know maybe this is the lowest we will see bitcoin or it will go down again. But to cast doubts out it is better to invest when you have the money
783  Bitcoin / Bitcoin Discussion / Re: Bitcoin mempool reaches 600K transactions on: September 05, 2023, 12:58:02 PM

Do people think this high usage is good or bad for Bitcoin? Are there still many inscriptions being made on the network or is this more financial transactions?


With the discussion I read this morning concerning same thing according to DdmrDdmr, this is a case of ordinal inscriptions that was experienced before. They currently take up to 90% of block size and this has resulted in the hike of transaction fees. So as it stands it is a clear case of ordinal attacks again where they intentionally pay higher fees even higher than the output. My curiosity is why because certainly running it this way and with the fees they are paying then it would result into loss to me
784  Bitcoin / Bitcoin Discussion / Re: Help me exchange my bitcoins on: September 04, 2023, 10:04:04 AM
You can follow the non KYC exchanges listed above. But my curiosity is if the local trader that you trust actually knows or wants to trade your USDC then with the wide popularity of bitcoin such investors should just be able to trade directly with bitcoin. Can’t you tell him that the transaction should just be done through bitcoin to your local currency straight up?
785  Other / Beginners & Help / Re: Scammers won't mind kicking those who are already down on: September 04, 2023, 05:51:40 AM
Phishing attacks like this are the most common scamming tactics nowadays not only on the crypto world but also in the general world. The scammers always tries to use an even to their advantage and this is certainly one of them.

The best way to go when sensitive mails like this is received is to look at the sender address and then go back to the exchange and check their support for there official email address and once even a letter differs, one should avoid the link. Also check their social media handle to actually check if there is an announcement of such instructions. Check the link of that comes with the mail and see if it is to their official page
786  Bitcoin / Bitcoin Discussion / Re: Btc addess problem big problem cant recive on: September 03, 2023, 09:11:48 PM
It’s not blocked or blacklisted but it has no bitcoin or even satoshi left which is why you can’t send any bitcoin

787  Bitcoin / Wallet software / Re: Usb Encryption on: September 03, 2023, 06:28:42 PM
I also do not recommend storing on usb because of the disadvantages like wearing out and damages. The best thing would be to add passphrase

You can follow this guide by DireWolfM14 to create the passphrase on electrum Wallet

Also even if you use a passphrase you can also encrypt the Wallet file. The wallet file can only be accessed with password if you encrypt it, this adds another layer of protection to the wallet again
788  Other / Beginners & Help / Re: Who is account of transaction fees? on: September 01, 2023, 04:53:49 PM
The sender can choose their own price or accept a preset amount. The recipient of transaction fees is?
It’s actually set based on the congestion on the mempool, that is why you will see different fees base on time priority. You can actually customize your own transaction fee if you use wallets that actually have that feature. Example is Electrum and BlueWallet. You can check for fees or calculate them your self from

  https://jochen-hoenicke.de/queue/#BTC,24h,weight


They appear to be independent of the incentive for finding a block, but as this becomes more expensive, will transaction fees be the only source of funding for BTC? as so, who will profit from them?

The profit of that transaction fee is for the miners and that’s is not all they also benefit on block reward which diminishes every four years as said by bitcoin Smith above


There is something called Bitcoin halving[1] which happens every 210,000 by that time the block reward reduces from it's current value to half, the next halving is expected to be Apr 26, 2024 at 05:52:04 AM UTC so the block reward will be 3.125 BTC.


The exact date and time cannot be certain as stated because the changes is affected mostly by difficulty adjustment. The only actual time for halving to occur is every 210, 000 blocks which the assumed time is 10 minutes to mined each but this differs base on hash rate. So this in turn affects the time for halving.
789  Bitcoin / Bitcoin Technical Support / Re: What are witness and signscript used for? on: August 31, 2023, 08:20:56 AM
As you can see I'm new to the forum and have made the decision to become more knowledgeable about the technical parts of bitcoin technology before I start my trips with bitcoin and other cryptocurrencies. How do I make a new wallet? What exchange can I trust?


There are many useful threads on the forum that you can use to gain the technical knowledge you want. You can make use of the search function for to search any but here is a beginners and help encyclopedia by Ratimov with almost all the necessary information or useful threads on the forum there.

For wallet this particularly thread on Bitcoin wallets will answer your question, but from forum suggestions and security reasons, you should use the electrum wallet for bitcoin storage and Unstoppable for multi cryptocurrency storage.

On the issue of Exchange, you can use decentralized exchange which is preferred to than centralized exchanges because of KYC protocols like Bisq. Do not leave your coins on any exchange because not your keys not your coins
790  Other / Beginners & Help / Re: Am a new comer on: August 30, 2023, 04:13:22 PM
Welcome, you can start by reading the pinned threads on this board you just posted on, they have almost everything you need to know about the forum.

Here is also a beginners Encyclopedia by Ratimov. It comprises of everything about the forum from its rules to bitcoin and essentially articles or thread and also alticoins.
791  Bitcoin / Bitcoin Discussion / Re: hmmm fishy on: August 30, 2023, 05:12:16 AM
Coincidence is a big talk though, I'm on OP here being fishy but that's all there is to it, I mean there's people out there that's good in trading and such so I won't be surprised that things like this happen plus it's not really our business if that address really has something to do with the rise in price last night (in my TZ), what you gonna do about it if we know about it early on? Stop them?
It is just speculation and nothing but it, it can easily be that the Wallet owner decides to have a change of wallet address one way or the other or even trying to consolidate all of them here just for his security, properly his recovery phrases seems compromised or he can’t find them and then is taken precautionary measures before anything happens.

The other valid reason could be he set out that 25k price target that he is gonna buy this amount when it comes. All this are part of the plan for some investors for the upcoming bull run and probably nothing more than that.
792  Bitcoin / Bitcoin Discussion / Re: Bitcoin movement: my thought on: August 29, 2023, 09:58:17 PM
All these are great advocating tips but the problem lies in bitcoin regulation by the government. Since the government is yet to fully support it this clubs will definitely be breaking rules by publicly advertising or advocating it.
793  Other / Beginners & Help / Re: I need some guidance on: August 29, 2023, 09:59:03 AM
Welcome to the forum, let me help with some links to threads that will help guide you on the forum.

Here is thread on rules guiding the forum

You can also read about bitcoin on learnmeabitcoin.com

You can also learn about bitcoin wallets and their differences through this thread Wallets- Which, what and Why

If you have any questions you’re free to ask but before proceeding you can use the search function to search first. How to effectively use the search function
794  Other / Beginners & Help / Re: Newbies, beware of NFT scams! on: August 29, 2023, 09:00:50 AM

One time he came to me and said he had a method to earn money. He met with someone on the internet who was an NFT seller. The seller (scammer) promised him that if he bought his NFT for 100 dollars, it would generate up to 20 dollars daily. Hearing this, I was a little confused. Because NFT recently became popular and was still new, I didn't have enough knowledge of it. Even then, with my experience, I could tell it was a probable scam.


This paragraph simply tells that you also do not have experience because you should even be in doubt immediately he told you a random person decides to sell his NFT that would generate more money every day. There is absolutely no one that want you to earn something from the internet. There is nothing like free money on the internet, so once any juicy offer comes then know that it is certainly a scam. One doesn’t need to have knowledge about this to dictate how it works, luckily your friend was able to come out well from this.
795  Bitcoin / Bitcoin Discussion / Re: We need to understand bitcoin and wallets before investing on: August 28, 2023, 09:58:00 AM
Point 1 is it necessary to teach people that is above 70 years bitcoin and if they invest in bitcoin how long will they benefit in bitcoin before they die. I do see bitcoin investment like an asset and investments plans that is meant for young youths until they get to old age and its not something that is not something thats meant for old people that is above 70 years to 80 years.

I don’t agree with you that bitcoin is meant for only the younger. Yes it is a technical thing that requires knowledge. But bitcoin is first of all a payment gateway and everyone certainly needs to buy things not just the young ones. Also bitcoin has been used by many has an investment asset, and we all know that it is the older generations that are looking for investment asset just to leave off some funds for their children and grandchildren and with bitcoin they have the perfect asset to last for a long time with ROI advantages and also without the fear of devaluations that comes with fiat currency.
796  Bitcoin / Bitcoin Discussion / Re: When to invest in bitcoin on: August 27, 2023, 10:36:01 PM
Although the best time to buy bitcoin has always been during the dip periods or the bearish periods but I would say as long as the price is still around $30k or below it is still at its dip. So whenever you have money at hand that time is the best time to buy bitcoin and not longing for a dip in price.

Also you could utilize the the Dollar Cost Averaging method, it will be perfect for periods like this
797  Economy / Gambling discussion / Re: Germany League - Bundesliga Prediction Thread on: August 24, 2023, 09:02:46 AM

Some people are definitely saying that Bayern Munich has actually reached an agreement with Peretz.
I am not so sure about this news, being true or not. I will give you a link down below about this news.
But I also definitely have heard that Bayern Munich is very interested in this player.


It seems even Fabrizio Romano has actually reported this transfer news, so with much new coming out then they might be an iota of truth in them. In fact I believe them because the likes of David De Gea aren’t suited for the Bayern pattern of football. David Raya on the hand will cause them more in transfer fees and wages also. And we all know Bayern aren’t after a prolific Keeper yet because they still trust their captain Manuel Neuer. He is expected to come back probably after the September international break and a young and promising goal keeper like Peretz who will be a long time replacement for the German international Number 1 is definitely needed. So this is a good deal to both player and club. This also opens up place for Sommer to move to inter Milan
798  Other / Beginners & Help / Re: i'm aware to do kyc on Crypto project on: August 24, 2023, 08:38:56 AM
My recommendation is that you should pick a trustworthy cryptocurrency exchange or platform that has robust security procedures and a reputation for protecting user data and, if practical, utilise additional security measures like two-factor authentication in order to reduce this risk.

Almost every platform even the centralized ones definitely set out to be a trustworthy one, they would say that they wouldn’t give out your information out but that is by the way except some circumstances faces them. The issue of KYC leak is not something two-factor verification can solve but rather something it is scary in the sense that the platform could give them out base on government requests or the most common and scary one is when there is a data breach, the hackers get full access to your information and could use it to get to you not only on that platform but probably some where else. And this isn’t something that two factor authentication can solve, so ones you do a KYC just be hopeful and be extra cautious on some mails you receive
799  Other / Beginners & Help / Re: Wallet resp. Address Consolidation on: August 23, 2023, 09:38:57 PM
Been using Electrum for some years now (never leave anything on an exchange), just worrying about the addresses with a small fund in one UTXO. But I get the point - paying transaction fee again. I'll keep watching the mempool and do some testing when the time feels right, there might be no really final answer, so it's up to me to ease my worries.

If you’re not in a hurry since this utxo are just little amounts you could wait a little bit to consolidate. Last weekend I saw the fee at around 4sats/byte so wait on and keep checking fee estimators.


As I understand it the fees are calculated per UTXO, so stuffing many of those into one transaction could blow up the fee I'd pay while each of them is almost just "dust". Please correct me if I'm wrong.

Bitcoin transaction fee are calculated according to the size of each UTXO, it is total fee= total transaction input (utxo) size + output size= fees. Imagine the byte of each utxo is 100 (even signature verification included) and you have total of 8 utxo then the input size totals to 800, then the output byte which is say 32 then 800+32 will give 832 which is the total bytes for your transaction. Then you set the transaction fee at 4sats then consolidating them will be like 4x832= 3,328sats/bytes as your transaction fee
800  Economy / Speculation / Re: Take your eyes off from the fall in price on: August 23, 2023, 05:34:45 PM
* is it encouraging to you that this is an opportunity for you to buy more.

* does it makes you  lose  hope concerning your investment that it should have gone beyond bitcoin current price of $25,835.

This fall of bitcoin price shouldn’t be a thing of concern because we have seen from past markets events that there is always a fall like this whenever the bitcoin halving is approaching. So it shouldn’t be a thing a of worry but rather a moment of accumulation. But we can’t take away the fear of losing away from newbies during every drop price, because most are early into this and may have invested money that they are not capable of investing into it. The market experts are those that will appreciate the moment because of the prior experience as this will give them another opportunity to accumulate. As for me I will stick to DCA and not panic since a 1 bitcoin remains 1 bitcoin no matter the conditions
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