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June 14, 2024, 03:03:34 PM *
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1  Bitcoin / Bitcoin Technical Support / Do P2SH-knowing nodes lock this bitcoin? on: February 13, 2024, 08:26:27 AM
I have been here for a while now, but I chose to study the technical aspects of bitcoin before I can move forward to any other part of it. I find this question difficult to comprehend, and I need more clarification about it.

The basic script for a lightning network HTLC output has a conditional branch, which requires a user to know the preimage of a hash. It also requires the user to give a valid signature, but it got me thinking: what if, before P2SH was a thing (back in the day), a user created a locking script that just so happens to match the P2SH template? For whatever reason, the user only intended to lock the bitcoin with a "spender must know the preimage of this hash" requirement. But this preimage is not a bitcoin script itself, so it can't be executed even though it matches the P2SH template. Do P2SH-knowing nodes lock this bitcoin forever?
2  Bitcoin / Bitcoin Discussion / Re: What are the benefits of cryptocurrency to the illiterate people on: February 10, 2024, 06:18:09 PM
What are the benefits of cryptocurrency to the illiterate people?

Once you hear illiterate, you know what it means. Since illiterate means someone who knows nothing about a specific thing, what do you think they will do to these people rather than educate them about the crypto space? Because if they do not have any knowledge about it, I am sure they will not benefit from it because there is no way they will make use of it that will benefit them.

So if someone is not educated about bitcoin or even crypto currency in general, he or she cannot benefit from it. Remember, it is not like fiat money, where you just pick and buy what you want. In crypto, you must follow some procedures before you can use it.
3  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin is different from other means of investment on: November 12, 2023, 10:08:38 AM
Regrets or no regrets, the truth is that there's no investment that doesn't have any risk. That's also the reason why it's not so good to only have one income source.

Actually, every investment has its own risk that is attached to it, whether high risk or small risk. It is always a risk, and we will be the ones to manage it while investing in such an investment. However, you also said the truth by having multiple sources of income so that if plan A doesn’t work out, plan B will.
4  Other / Beginners & Help / Apart from the bitcoin core, are there any other way to store bitcoin? on: September 28, 2023, 05:38:09 AM
Since I believe it will be better if I first understand bitcoin's technical side before I proceed on the forum, I am currently beginning my journey with it from a technical standpoint.
But as I was researching, I found out that I first needed to download a file called the bitcoin core in order to start storing my bitcoin. In light of this, I want to know if there is any other way to store bitcoin besides downloading the core. And which is safer.

And if there is, I'd love it if the senior members could assist me with it. It seems to me that utilising the bitcoin core on a mobile device won't be much easier for me, so please let me know if you know of any way to store my bitcoin without downloading the complete bitcoin core.
5  Other / Beginners & Help / What are the procedures to follow when I want to invest? on: September 03, 2023, 10:12:54 AM

I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.

3. Why is using Bitcoin better than using conventional currencies?

Many thanks to all of you for your explanation.
6  Local / Nigeria (Naija) / Re: What I experienced happening in this community on: September 02, 2023, 09:29:48 PM
You sure say, you don check all the thread wey they this local board and you didn’t see any thread that was created by any senior members in which it has help many newcomers?

No be say I no see am but at least e no plenty as e suppose be because if e plenty many new comers go don see and achieve mate what I want to ask you is dat you way day ask me say I no see thread way sr member create to help new comers pls make u just bring some link of them make we see and achieve nah my point be dat

Have you try checking this thread by Charles Tim even once since you join the forum?
7  Local / Nigeria (Naija) / Re: What I experienced happening in this community on: September 02, 2023, 09:10:24 PM
You sure say, you don check all the thread wey they this local board and you didn’t see any thread that was created by any senior members in which it has help many newcomers? You are talking of the senior members are just watching what did you want them to do if you look and check this is local board and they are trying there best to see people going up.

You said you only see news that have been circulated in the county for our local board which you think is not meaningful, and even this thread I don’t see anything meaningful here that will help people or change anything in summary your thread is not meaningful mate.
8  Bitcoin / Bitcoin Technical Support / What are witness and signscript used for? on: August 31, 2023, 02:12:04 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?

The second question is: What makes a signscript and witness different in a transaction, and what are they used  for? What will I be using them for if I want to use bitcoin and other cryptocurrencies that call for a signscript and a witness?
9  Other / Beginners & Help / I need some guidance on: August 29, 2023, 09:54:24 AM
I’m a brand new in the forum so please I want the senior member to help me out on how I can operate in forum without offense and some links that I can use to read about bitcoin.

Thanks in advance
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