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81  Bitcoin / Hardware wallets / Re: Ledger Nano X Wallet Types ? on: November 28, 2023, 08:29:37 PM
Are you sure withdrawing to the SegWit address is available right now? This is the bitcoin withdraw option from my binance account. Which one from here is for Bitcoin SegWit withdrawal? I am only seeing bitcoins Legacy network, BSC(BEP20), Lightning Network, BNB Chain(BEP2) and Ethereum(ERC20) versions of bitcoin.
Bitmover is correct. You can also send to native segwit and nested segwit on Binance. You can click on the first one (bitcoin in your image above) to do that. Binance do not specify but generalize them as 'bitcoin' which is the first one.

I thought that was only for the bitcoins legacy network. I wasn't aware that it was for segwit work because its not written in there as other types of network. I will try that next time. Good findings by the way. I should have looked at their blog site to learn about it. That network will send bitcoin to the legacy network if i put any legacy addresses in there. I think I have withdrawn bitcoin to a legacy address before from binance but i have never tried to withdraw to Segwit before.

82  Other / Beginners & Help / Re: What is your solution to pay less Fee ? on: November 28, 2023, 08:21:51 PM
Quote
Re: What is your solution to pay less Fee ?
- Use ViaBTC for transaction accelerator.
- Use other coins.
- Don't make any transactions at all.
- Wait for the Ordinals hype to subside.

The 2nd & 3rd ones are somewhat correlated because if you don't want to make any transactions using Bitcoin, you will convert it into altcoin and then make a transaction using that one. I tried using ViaBTC once already, and it's helpful because they accelerated my transaction when the current fee was twice as high as the one that I put in which is obviously my fault. Lastly, Ordinals is the reason why the transaction right now is at its peak (or at least it's high). Just like what happened with NFTs, and ICOs, this hype will subside thus, transaction fees will go lower as well.

I need to learn about this ViaBTC transaction accelerator. I usually try to avoid any transactions when the network is congested. Sometimes i need to transfer my bitcoin to the exchange and i am a segwit user but the transaction fees are pretty insane here as well. Using other coins is a good option but i need to have my funds in the exchange first to do that.

This Ordinals hype is going crazy and till now i am not sure why there is so much hype about it. People are earning more bitcoin by using that?
83  Bitcoin / Hardware wallets / Re: Ledger Nano X Wallet Types ? on: November 28, 2023, 08:15:05 PM
Binance only allow withdraw to bitcoins legacy and taproot network so you can not withdraw BTC in your segwit or native segwit network from binance right now. But they allow bitcoin deposit from segwit address.

I have withdrawal to segwit addresses in the past, you just need to click "Segwit network". I opened my binance account and it looks possible now (but i dont have a bitcoin balance to try, but it looks to be working)

There is a tutorial about it in binance website
https://www.binance.com/en/support/faq/what-is-segregated-witness-segwit-0a6fcbc99a87424481c08bd894601759
Quote
What Is Segregated Witness (SegWit)
2020-12-24 02:09
Binance supports using Segregated Witness (SegWit) to withdraw Bitcoin to SegWit (bech32) addresses.

Are you sure withdrawing to the SegWit address is available right now? This is the bitcoin withdraw option from my binance account. Which one from here is for Bitcoin SegWit withdrawal? I am only seeing bitcoins Legacy network, BSC(BEP20), Lightning Network, BNB Chain(BEP2) and Ethereum(ERC20) versions of bitcoin.



What i am seeing is they are only allowing deposits from bitcoin's SegWit address and I have been using it on my phone for a few weeks. Maybe they just suspended withdrawing to SegWit or am I making a mistake here?
84  Other / Beginners & Help / Re: How could this journey be on: November 28, 2023, 08:06:27 PM
I'm new here with no knowledge of Bitcoin, I write this as Bitcoin enthusiast that's ready to learn, with the little information i gathered from friends when they were dicusing, I see Bitcoin as an opportunity and am intereested, but my problem is that I want to know way to go, I need help and clarificatioon on the way to go here.


You have said that you have no knowledge about bitcoin How do you understand that bitcoin is an opportunity? I do understand that you are fascinated by the technology and perhaps with the price mostly but without having fundamental knowledge about bitcoin it's just a speculative asset to you. It is great to see you enthusiastic about bitcoin and reaching out to the forum to learn more about it but IMO you should learn how to google first so that you don't need to come to the forum more frequently to ask about every new term you find when learning about bitcoin. Google is an ocean of knowledge so if you learn to boat through it you will discover many miracles.
85  Bitcoin / Hardware wallets / Re: Ledger Nano X Wallet Types ? on: November 28, 2023, 07:55:30 PM
Ledger Nano X device shows four type bitcoin wallet address.
Which one should I use for transferinf BTC from binance ?
is there any difference between them ?
is there a risk of lose the BTC while transferng ?


And I think ETH is on ERC20 network.
We should select ERC20 network if we send ETH from binance to Ledger.
am I correct ?

Binance only allow withdraw to bitcoins legacy and taproot network so you can not withdraw BTC in your segwit or native segwit network from binance right now. But they allow bitcoin deposit from segwit address. When you paste your bitcoin wallet address in binance's Address/Invoice option it will automatically pick the right network for your address if they support that network. So don't worry try to use all those addresses in the withdraw section to find out which wallet type you are using.  

Usually most of the tokens in the ETH mainnet are ERC20 versions of them. There are other ERC standards for tokens available in the ETH network.

ERC-721 Tokens.
ERC-777 Tokens.
ERC-1155 Tokens.
ERC-4626 Tokens
86  Economy / Economics / Re: Insurance is important on: November 28, 2023, 05:18:16 PM
This depends on where you live. What will be the point of doing insurance if the chance of getting compensation is low? I am talking about the situation in my country where almost more than 45% of insurance claims are rejected and the customer has to go through a long procedure in court to get their money. The corrupt system is not ideal for any institutional entity because the lack of implication of law and order makes it difficult for general people to get the benefits of an institution.
Insurances are mainly company based. So besides getting benefits from them, there are many risks because many unscrupulous traders can use them to create fraud nets.  So for this you need to be alert yourself and warn others and before taking the insurance, do a good research on the insurance whether it is approved by the government or not. And if it is approved by the government, then if it is fraudulent, will the government or the central bank take responsibility for it or not?  After researching everything, decide which insurance company you should insure with

I was talking about reputable insurance companies. Then government officials are also involved in this type of scandal. Some of the companies are owned by people who are loyal to the current government which is why they are still operating throughout the country even after their bad reputation. The problem is corruption, which causes an imbalance between crime and justice. When criminals are not being arrested for their crimes and they can bail out easily multiple times after doing the same crime again then no institution will work properly and the people will get no benefits from them.
87  Economy / Economics / Re: Economists advise caution in trading in Bitcoin currency on: November 28, 2023, 05:10:25 PM
He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.

I don't care about what some brainless fellow said. By mentioning authorized currency he means it is not legal in the country which is true but this is the power of bitcoin where you can evade any ban from any jurisdiction. This is the freedom bitcoin can provide which other asset can not. There is no way to know the origin of a bitcoin owner and where he is sending or receiving it. This they can not control and that is why they are trying to defame it only by mentioning the negative side of bitcoin.

To control the people they need to control the people's financial abilities. If mass adoption of bitcoin happens throughout the region then they will not be able to collect their illogical tax from their people. In bangladesh banks is paying a lower price for dollars than in the open market for remittances. If people start using bitcoin or other crypto for cross border payments their will be no profit from the banking sector. They will not be able to determine the price per dollar they want. They want total control and bitcoin is a threat to them.
88  Economy / Trading Discussion / Re: Should trading be for the rich? on: November 28, 2023, 04:51:08 PM
There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?

If someone has the skill to trade but not the money then he has to find ways to get the money first. What are the point of being knowledgeable about trading if you cannot trade due to a lack of money? The question should be how he can get the money. There are many ways selling a course about trading, running a live trading course can be run on the internet where students will pay a subscription charge, he can also open a youtube channel where he will share his trading skills with others This YouTube channel can also generate money for him.
89  Economy / Trading Discussion / Re: What’s your portfolio building strategy for crypto? on: November 28, 2023, 04:42:11 PM
Using AI for trends? What AI? Chatgpt and you will ask it about the current trends of the market? That is a good idea but if you are going to invest also in  AI projects too, you do not know how long trend is for them.

Strategy that I use is easy for it. No need to gather that much information about trends but invest mostly to Bitcoin.

And do not rely solely to AI, all of the data will be fed to you are like gathered info from the web that it has consolidated and nothing new if you do it alone.

The only place i found AI to be useful is data entry. It makes data entry so easy that it can do hours of work within a minute. This is not the only usecase of AI but it is too early to speculate about the limitless possibilities AI can bring. Perhaps right now the output we are getting about business-related tasks from AI is not satisfying enough but remember that it is the early stage of this technology, and from this ground level we can see a lot of possible use cases getting out through AI.

AI will make some humans jobless but for now using AI for market prediction or making business strategies is not the best option. It can be risky to trust an AI's judgement because it cannot understand human emotions and sentiments through its market behavior.
90  Economy / Economics / Re: How we survive food shortages on: November 28, 2023, 03:14:36 PM
The war did not have a big effect on the food crisis that occurred in the world, the war only meant that the countries involved could no longer make maximum use of agriculture so that it affected production which made it difficult for local people to get food. However, what is currently frightening is that almost the entire world is being hit by extreme climate change, so the entire world is very worried about the food crisis.

What if that war-mongering country is a major exporter of a specific food? In this case Russia is one of the major exporters of worlds wheat and the war makes it difficult to keep running a safe transit. No other country will take the risk of importing goods from a country that is at war. The country that was dependent on importing wheat from russia will have to look for other alternative or they will face food shortages.

  Yes, maybe people in rural areas can still survive and have the opportunity to work on the available land to support life. But another obstacle they face is the difficulty of obtaining fertilizer materials and the price is very high, so the current conditions are very difficult for all residents, both in villages and in cities. The government of course always thinks about this thoroughly, but the impact of climate change and conflict situations between countries makes this crisis difficult to overcome.

Earth's soil is naturally fertile if you are not living on a rocky mountain. We use fertilizers to increase food production, but without their use, we can still grow crops. There are other better alternatives, like compost fertilizer, which can be produced by using natural ingredients that are available in our surroundings. The only difficulties the villagers will be facing is with their communication or transportation. In a war, the most affected sector will be transportation, which is essential for importing any goods from outside the villages.
91  Economy / Economics / Re: Why is Bitcoin always affected on: November 28, 2023, 03:01:54 PM
I apologize if this is a dumb question but the fact is that I don't know why.

My question is, why is Bitcoin market always affected by all economics news, example is the issues with US bank like the SVB. Thank you

Major events like war, natural disasters, major bank defaults have some kind of economic impact globally. Not only bitcoin but also stocks, forex and other market have also been affected because all these are correlated with one another. As an example if a bank collapses and some of the users of that bank are bitcoin investors. In this situation for any emergency situation, those people will liquidate their bitcoin in the market. Now think about what will happen if a few thousand users have this same situation. This will create sell pressure in the market which will be the reason for a correction.
92  Economy / Economics / Re: Black Friday deals and your plan to hold bitcoins. on: November 28, 2023, 02:54:49 PM
After this prolonged bear market where we struggled to accumulate bitcoin, this is not the right time to sell bitcoin for any possible correction. The feasible approach should be to prepare some cash to accumulate more bitcoin if there is any correction in the future. No one wants to risk missing the train only to get a few extra % discount on the bitcoin price. What if there isn't any correction at all?


Did you have to use some or a significant amount of your bitcoins?


Selling assets to purchase goods or basic needs is an ill practice if you are an investor. Your investment funds and your monthly expenses should be managed differently. Let your asset grow in value, then with the profit do whatever you want to do or keep that asset as collateral and take a loan in fiat or stable currencies. This way you can fulfill your desires without selling any assets.
93  Economy / Economics / Re: Insurance is important on: November 28, 2023, 02:41:19 PM
This depends on where you live. What will be the point of doing insurance if the chance of getting compensation is low? I am talking about the situation in my country where almost more than 45% of insurance claims are rejected and the customer has to go through a long procedure in court to get their money. The corrupt system is not ideal for any institutional entity because the lack of implication of law and order makes it difficult for general people to get the benefits of an institution.
94  Economy / Economics / Re: Central Banks keeping secret about CBDC blockchains on: November 27, 2023, 09:35:00 PM
There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.

most CBDC are a hybrid 2 network system the mainnet for the central-commercial bank of reserves and issuance creation.. and subnetwork the individual banks/services retain data on and audit the customers and only report under conditions to the central authority. and vice versa

the ISO standard of curent electronic fiat payments is not the same as the multisig hop reserve sharing tech a CDBC routed payment uses
there is no PoW blockchain. the mainnet is more of a PoS system of one master multisig thats spendable state updates and has a hash tree(chain) of previous states to ensure all central-commercial parties retain the same mainnet history log of th main reserve allocations

So they have different infrastructure, but they have similar usability right? Like user will have to create an account through his NID card or government issued card number through an application. Is there any data about this from any pilot program of CBDC? Another thing that came to mind is that master multisig is the main controller of the network. I mean that is he the one who will be responsible for issuing more currencies freezing any address etc? I can see i don't have much knowledge about it; I need to do some research on it.
95  Economy / Trading Discussion / Re: Scalping on: November 27, 2023, 09:23:27 PM

In trading you need to gain knowledge those learnings you've got will now execute your trades every trades you made you learn and earn experience, if you win great those learnings applied but if you fail learn from those mistakes, analyze whats wrong with your trades, prevent to deal with again and move forward for your future trades.
One of the biggest problems of a trader is repeating the same mistakes, it seems to me that this deprives the trader of the opportunity to become successful. I'm pretty sure that everyone who found themselves in a difficult situation and did not use a stop loss thought that it could save them money and time, but if after that the trader continues to repeat this mistake and does not use a stop loss in future transactions, then this leads to the same result again.

That is the reason professional traders keep a notebook with them and keep track of their bad trades. They try to figure out what went wrong and how he could be saved from that. This is a good practice for a trader, as it helps him identify the same scenario in the future and take action according to his previous experience. Not sure how much it help them but there must be some benifits of it otherwise why most of them suggest to do something like this to newbie.
96  Economy / Trading Discussion / Re: Who should own a demo account? on: November 27, 2023, 09:19:23 PM
There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

It is true that strategies can be tested through a demo account otherwise, there is no point in using a demo account if someone is an expert in trading. Taking losses, and making mistakes is part of the trading journey and a trader should risk his assets to trade because this will motivate him to do more work on his trading strategies. You can not learn from other people's experiences when you don't know you will face the same challenges that person is facing. If you want to test your strategies, then you can back-test with historical charts to see how your strategy would have worked in those market scenarios.
97  Economy / Economics / Re: Central Banks keeping secret about CBDC blockchains on: November 27, 2023, 08:52:14 PM
There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.
98  Economy / Economics / Re: How we survive food shortages on: November 27, 2023, 08:45:15 PM
Food shortages have being a big problems in the global world today where tremedious things are happening people finds it difficult to buy food especially,rice products,climate change has devastated  the whole global world where crops can no longer do well in the farming system,believe with this new information about the crypto space can  our climate change system be put together where there will be high rate of food shortages in the global world as a new beginner I want to know we can fix this things I mentioned.
As long as the war continues in the world, its food shortage will continue to increase. And in this shortage, the price of goods will increase and people will spend their lives in unbearable suffering. It is almost impossible to get any way of escape from the position, on the other hand due to the weather and climate the environment is destroyed and it is also a fatal damage to the crops. As a result of climate change, people are not able to determine when a flood will occur, thus affecting crop production. The price of goods is increasing due to inflation. In this case those who have invested in the crypto space will be able to hold the value of their currency and they will be free from inflation.

War has a big impact on the global economy but food shortages only happen when that region of the world is a major food producer. If you look at Russia-Ukraine war then it is obvious that it put a big impact on wheat products, as both of them are natural sources of a major portion of the wheat produced in the world. On the contrary, the Israeli and Palestinian war doesn't have any major impact on worlds food prices. This depends on the region where the war is happening.

If you are living in a urban area then it will be hard for you to survive in times of food shortages but in the countryside people can grow crops for their own needs. This won't make any difference in that country's food shortage problem, but this can help people survive. It is advisable to move towards rural areas in a time of war because urban areas become the primary target of a war.
99  Economy / Economics / Re: Isreal and Palestine war and losing your wallet phrase and password on: November 27, 2023, 02:52:31 PM
Have you consider that you lose all your coins because the wallet phrase to your coins and PC burn in a war.
So what will you do if you survive after the war to start back your financial struggling and your crypto investment journey. Or can you get the coins back?

There is nothing you can do if you are not conscious enough to keep your wallet seed phrase in a hardware wallet or in something that you can always carry on. At first, it is bad practice to keep your PK or recovery phase only on a computer or laptop. You should keep it in a hardware wallet, or at least in a pen drive if you cannot afford a hardware wallet. You can still lose your hardware wallet or pendrive but the chance of not being lost in a war zone is higher. You can make a tattoo of the seed phrase on different part of your body though this sounds funny in an extreme place like war zone it is not a bad idea because your intention is to keep your wallet secure no matter what.
100  Economy / Economics / Re: strange indicators to know economy is bad on: November 27, 2023, 02:46:08 PM
must issue economic policies that can help society so that people's purchasing power can increase, either by providing subsidies to keep goods prices cheap or providing cash assistance to people affected by the bad economy.
I think that is a tricky decision. If they can't control how much money is in the market, it can go south quickly and will just increase inflation like what happened in Argentina iirc. At some point, people need to become creative on their own so they don't rely on the government to survive for a while. I guess this is where natural selection comes into play.

Weirdly enough, I stopped taking regular haircuts a few years ago. My reason is just laziness though, quite different from the Japanese I guess. On the other hand, the price to get a basic haircut does increase here. Things are getting expensive.

That is the reason Argentinians purchased bricks when they had cash because they knew their paper cash would lose its value due to inflation. This type of scenario occurs when there is an extreme level of corruption in the government and underqualified people sit on chairs where they shouldn't be. Just look at what happens with pakistan and srilanka. Perhaps we can bring forth another brick index. Grin

In my country we are going to have a similar scenario. I am saying this because people's are eating less meat and non-vegetarian food which are the primary food consumed by our people. Maybe this is a good way to judge a countries economical situation by analysis the change of its people's lifestyle.
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