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June 13, 2021, 01:30:39 PM *
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1  Other / Beginners & Help / [Newbies]Learning will not make you spam[for newbies] on: Today at 10:52:14 AM
Newbies may not know that learning will help them not to spam, copy and paste nor plagiarize. When I was a newbie, I loved to know about bitcoin and want to know more about it, I noticed everything I studied about bitcoin did not only helped me on this forum, it really helped me in a way I am safely keeping my bitcoin and making transactions with the lowest fee that can get transaction confirmed not long, there are many people that do not know about segwit and also how to be making use of mempool observers to track transaction fee, also about the weekends when fee can be minimal. All these are helping me to make good posts on this forum.

I have some friends that I told about this forum, that they can be able to know how beneficial bitcoin can be, that this forum will help them know about bitcoin very well that they can even with time earn some amount of bitcoin if they are contributing good posts. What do comes from them always funny to me, they do say 'can I use search engine to check what they can reply and paste it on this forum', I do tell them no, but they can use google to check for what they can reply but yet they have to also be learning about bitcoin but they can not paste another site materials here or they should include ntue link, that with that they will see this forum just like social media and enjoy what is going on here as I am seeing it now. I also tell them that what is mostly important is by following the threads on this forum that they will gain from it.

I have noticed the newbies that do not want to learn are the ones spamming, plagiarizing and copying/pasting, while they should not do something like that even without reading the forum rules, it will be good for newbies to take it easy, do not rush but be patient, you will get it and move up just like ranked members.
2  Bitcoin / Bitcoin Discussion / Co-founder and CEO of Avenue Capital Group lamented he should have bitcoin on: June 08, 2021, 07:45:28 PM
I do not know the reason why some people will report that bitcoin is dying when the price plummeted, there is another recent crash since yesterday but I like what the CEO of Avenue Capital Group said about bitcoin. He said the market has been established. I believe that too, also when in the past years when bitcoin level of adoption is not as strong as of this time, the price did fluctuated, decreased during the process but increased back and reach all-time-high, bitcoin is just a digital asset that can not be ignored.

Quote
https://cointelegraph.com/news/i-should-have-bought-a-lot-more-laments-billionaire-investor-on-bitcoin
Marc Lasry, co-founder and CEO of Avenue Capital Group, believes that despite recent volatility in the crypto market, it likely isn’t going away. In a Tuesday interview with CNBC’s Squawk Box, Lasry said that while the price of Bitcoin (BTC) could go anywhere from $20,000 to $100,000, the market has been established, implying it is unlikely to go to zero.

https://mobile.twitter.com/SquawkCNBC/status/1402246283117711367
3  Other / Beginners & Help / Question about bitcoin taxes and signature campaign payment on this forum on: June 07, 2021, 02:19:25 PM
Bitcoin and cryptocurrencies generally are banned in my country for now, but I know the government will still one day legalize cryptocurrencies. If cryptocurrencies are later legalized in my country and paying crypto taxes are mandatory, what do you think about this below.

All what I have read about crypto taxes are:
  • only capital gain will be taxed
  • capital gain will not be taxed if there is a capital loss until no losses again

With all I have read about crypto taxes, I do not yet know how I should pay crypto tax for any signature campaign paid on this forum unless the bitcoin paid later has net increase. But if it has not yet increase in value, this means no taxes to be paid. Is that correct?
4  Other / Beginners & Help / Cookies in broswers on: June 03, 2021, 04:25:56 AM
I manage to have electrum wallet on my mobile phone which I do use to make transaction frequently, I also have some others apps that I need to carefully protect on my mobile device. Anytime I broswe before, I can be able to reject the cookies the site I am accessing popped up for me to either accept or reject, I did always reject them because I know it can be used to track some information on my browser.

Recently I noticed the option to reject this cookies are no more there, out of 10 sites I visit, I may not even see the option again on the whole ten sites, I still do see it but I hardly see it, so the probability of me seeing the rejection option is very slim. There are some time I will have to make use of the site with the cookies pop up like that without clicking on accept, but it makes users experience not good, and also there are times I will not be able to read anything from the site without accepting the cookies. This makes me to ask this questions.

Is there a way to still reject the cookies that sites owners are somehow making mandatory
So is it safe to accept this cookies and yet my phone is safe? (I always think anything that track information on my broswer makes me not to have privacy)
Can my wallet and other apps and information be accessed by hackers on my device by accepting the cookies (I do not trust any site about this cookie thing) and I do visit the legit sites, not he fake ones.
Or should I just go to my broswer information to always clear the cookies? It will be effective but it can be tiring

If this can happen on mobile phones, it can also happen on computers to people using their computers to broswer always. It will be good to have effective solution to totally reject cookies.
5  Other / Beginners & Help / Checking your posting history a day before weekly posting ends on: June 02, 2021, 07:31:08 AM
I do see some people that have quality weekly posts but were not paid by the campaign managers because they did not meet up the task given them to accomplish, this may not be the fault of the posters until the posters noticed his ignorance caused him to lose the weekly payment. I remembered there was as time I joined Ownr wallet signature campaign, participants needed to make 20 posts weekly, I posted 22. I was not paid because 4 of my posts were moved to off-topic and I lost the weekly payment. I noticed my fellow full member were not also paid, the first user had 21 posts but only 18 were eligible for payment while the second user had 27 posts but only 19 were eligible for payment. This was a mistake from full members which were newbies about signature campaigns. I noticed it do also happen to old members but not usual.

You can check the spread sheet here, week 13.
https://docs.google.com/spreadsheets/d/13r1Opy4g5-FaPUnYPCciavRo0WsoNJkHamIPmKAB4RY/htmlview#

It is good to keep to the rules of a campaign, there are may other ways someone will be serious but yet will not receive the weekly wage because of ignorance. That is why I am using this post to make other people aware of how they can have quality post, post more than the minimum numbers required for weekly payment and yet not paid because some of their posts have been moved to boards that are not eligible for weekly posts that will be counted to receive weekly payment.

What to keep in mind to be able not to miss the weekly payment

1. It is always good to read the rules of a campaign
2. Making sure you post on the board that will count for weekly payment (though that does not limit you to only posting on eligible boards)
3. Check your post history and count the eligible posts a day to the end of one successful week of posting
4. Making more than the minimum post required for weekly payment. If the minimum is 20, you can make 30 or more. Let your posts have good quality.
5. Make sure the topics you post under have high quality, some topics can be deleted which will result to the deletion of the whole thread.
6. Make sure a topic is not having off-topic characteristics before posting there, some topics on eligible boards will later be moved to off-topic
7. You should not spam, plagiarize or have low quality posts

I was very unhappy to have a good posting week but yet I was not paid because my some of my posts were moved to off-topic, try to always monitor your posts, count it like a day before the posting week will end. If some have been moved to non-eligible boards, you will still have one day to make corrections.
6  Bitcoin / Bitcoin Technical Support / Can unconfirmed transactions be automatically cancelled by RBF on: May 31, 2021, 07:12:39 PM
I was thinking about unconfirmed transaction and RBF today, this came to my mind after reading a post about it on this forum, I just want to be sure of what will happen.

Assuming I sent bitcoin to a friend that is using electrum wallet, the bitcoin transaction was not yet confirmed and it is taken too long, he decided to create CPFP and use it to send the bitcoin to another address on his electrum wallet. But my friend also mistakenly use low fee too, which makes the child transaction also to be stuck.

If I use RBF during this time for the original transaction, that means the unconfirmed CPFP will be invalidated?
Or I will not be able to create RBF because the transaction already has child transaction?
7  Bitcoin / Bitcoin Discussion / Ray Dalio says ‘I Have Some Bitcoin’ on: May 24, 2021, 08:09:12 PM
Quote
https://www.coindesk.com/consensus-ray-dalio-i-have-some-bitcoin
The billionaire hedge fund boss sees an inflationary future where “cash is trash” and BTC catches on as a store of wealth. He still doubts governments will tolerate it.

I am happy to this kind of man that knows the the value of fiat that fiat will as usual devaluing currency, that is just fiat for everyone, people living in developing countries and below will be the ones that will suffer the devaluation of fiats most while other countries with strong economy are not left out because fiat are controlled by central authority. Ray Dalio says says:

Quote
U.S. dollar is on the verge of devaluation on a level last seen in 1971 and that China is threatening the greenback’s role as the world’s reserve currency. In such an environment bitcoin, with its gold-like properties, looks increasingly attractive as a savings vehicle, said Dalio, whose firm started 2021 with $101.9 billion in assets under management, making it the world’s largest hedge fund.

“Personally, I’d rather have bitcoin than a bond” in an inflationary scenario, Dalio said during an hour-long conversation with CoinDesk Chief Content Officer Michael J. Casey.

Because the price of bitcoin is decreasing for now, do not let us forget that there was once a time bitcoin price was less than 1 dollar, and over the time it has been increasing, decrease a little and increase more than before in a way it will set all-time-high. Bitcoin holders that wait for long period of time will not lose but gain.
8  Economy / Scam Accusations / Doge scammers take advantage of SNL to scam people on YouTube on: May 18, 2021, 07:58:07 AM
I could not believe scammers are this so wise, they easily take advantage of Saturday Night Live (SLN) Musk appearance to scam people Doge worth of $5 million. It is very possible people that know little about scam can be scammed this way if care is not taken. I have been reading about Musk post recently which made me reluctant to create this thread but I think it will be very helpful for people not to believe anything on social media and any site like YouTube that scammers always use to steal from people.

Quote
Here's how the scam worked, according to the report
During the "SNL" telecast, viewers who searched for "Elon Musk SNL" on YouTube could see livestreams that seemed to be hosted by the NBC show but were actually run by scammers, the report said.

The livestreams publicized links to unique websites that viewers could visit to receive dogecoin.
A message on the broadcasts said: "Elon Musk has devoted 500,000,000 DOGE to be distributed to all DOGE holders. Anybody can get some, just visit the website." This was perhaps somewhat believable, as many of Musk's followers expected the billionaire's "SNL" appearance to pump the digital asset. Users were asked to transfer dogecoin to a blockchain address with the assurance that they would receive double the amount they sent.


Some people sent it and were scammed.

Quote
On Saturday May 8th, 2021, Elon Musk hosted Saturday Night Live (SNL). Scammers leveraged Elon Musk's appearance to run crypto giveaway scams, netting at least 9.8M DOGE, worth approximately $5M USD at the time of the scam.

https://blog.trmlabs.com/post/dogecoin-elon-musk-snl-scam
https://markets.businessinsider.com/currencies/news/dogecoin-scam-elon-musk-snl-net-millions-exploiting-giveaway-scheme-2021-5-1030415416
9  Economy / Exchanges / Fake alert during p2p trade on: May 16, 2021, 08:51:40 AM
I read not long ago how some people were scammed during p2p trade, this can happen when someone is trading directly with another person or when using decentralized p2p exchange, it can also happen when a trader use centralized exchange. What I have noticed is that the fault is from the trader that are scammed.

The last I read was about a trader that wanted to sell bitcoin, he did not know he is making a deal with a scammer, the trader created the trade, the scammer accepted it and message the seller that he has sent money, the seller received an alert from his bank and he released the bitcoin from escrow.

It was the next day when the seller knew he has been scammed when he wanted to withdraw money, no money received, he went to bank, the bank customer care told him it was a fake alert that there is nothing they can do to help that the name on the message only resembles the name of their bank and the text message resemble the style the bank use to send message to their customers, but not from them, but only amount received was on the text message, total balance was not included, that look suspicious.

There will be many people that would have been scam just like this, check your balance after receiving money from a seller, do not believe in text messages, it can be fake.
10  Other / Beginners & Help / BIP39 word list languages importance on: May 12, 2021, 12:28:55 AM
I recently checked the BIP39 on GitHub not long ago, I saw the mnemonic words now in 9 languages while Chinese simplified and traditional make it 10. I am from a country that English is the official language, all the wallet I have downloaded before are all in English, I have used three wallets at list now.

What I do expect after seeing mnemonic (seed phrase) in different languages on GitHub, I was thinking if a new downloaded wallet wants to generate seed phrase, there should be an option of language selection so that we can choose any of the language of our choice but English is what I have been seeing, I have never seen a wallet that comes with another language before than English.

Is there anything I am missing?
Is there a wallet the seed phrase is written in other languages?
Is there a wallet that give us the option to manually choose the language we want?

I think it will be a great implementation if wallets have the option for people to select the language of choice.
11  Bitcoin / Wallet software / Differences between paper wallet and USB flash wallet on: May 10, 2021, 01:12:35 PM
With what I have known, I noticed storing bitcoin private key and address which can be printed or written on paper is known as paper wallet, there are certain website that can be used to generate these private key and address. But what about if I use electrum wallet offline to generate seed phrase and address, is that not also called papar wallet?

If I created a wallet using the source from wallet like bitaddress or I use electrum offline to generate seed just like I said above, but I did not save the private key on paper but on flash drive, is that not called flash drive wallet?
12  Other / Off-topic / Google authenticator discussion on: May 08, 2021, 10:14:44 PM
One thing I have known about google is that the company has many ways of exposing people to scammer, like the Google search engines that display ads like normal links of a site which can be for scammers, making people to think the ads are the site of legit sites but not, I have been using duckduckgo long ago when I knew google do not care about my privacy. In fact, I stop anything that is related to google, but a friend of mine get in touch with me few days ago and we discussed about google authenticator, he told me that google are truly exposing people to scams but google authenticator is different, that I can still trust to use it, that no internet connection or saving any data on cloud. I tried it out and I found it to be true. But I am thinking I can still not be getting something right.

Is google authenticator good? Or still one of the google products that exposes people to scammers and making users to lack privacy?
13  Other / Beginners & Help / Centralized and kyc platforms can pose risks in the future on: May 04, 2021, 06:59:36 PM
I believe this is not only happening in my country but in all other countries, we need to be very careful before we will become criminal's targets. There are many ways criminals are thinking about ways they want to steal from us, physical harm can still involved. There was a case I read recently about someone saying he had trezor with him in his home when theives came but did not touch the trezor after stealing other valuable things.

Some thieves are unable to make use of people's Bank ATM cards because they are afraid of the account they will send the money to not to be traced, that is why some will have to go to ATM with the cards to withdraw some money, but there are daily limit that someone can withdraw, this can safe the victim not to lose money much.

But we are in the time of cryptocurrencies, no daily limit, we can withdraw as possible as we can as all can be withdrawn. We need to be careful with the information we are having online, be careful of exchanges that are custodial, even we must be careful of the so called information require while buying hardware wallets, find ways not to give right information that can make criminals trace your home or work place.

This is still the time most offline thieves know nothing about hardware wallet, that is why the trezor was not stolen, even the thieves can require for the pin and other necessary information needed to be able to transfer all coins on the hardware wallet. We are still lucky today to have those offline bad actors not to physically attack someone, but the day may come.

The advice is that we should try all possible ways to avoid custodial services, they are the threat that may favor thieves tomorrow. To use cryptocurrencies properly, go 100% noncustodial, also do not fill in right information while buying hardware wallets.
14  Other / Beginners & Help / What will happen after all bitcoin are mined on: May 03, 2021, 01:43:31 PM
I am just thinking about this, I believe block reward might be the cause of most bitcoin communities not agreeing for some ways to increase transaction time to be able to get faster transaction with low fee. But I am thinking of the future when block reward is not having any effect compared to transaction fee.

But to more specific, there will be a time when all bitcoin would have been mined, during the time, will the time miners will be confirming transaction reduce from 10 minutes to 1s or a time lesser than a second. The reason is that the whole block reward scenerio will not be a reason at the time not to reduce the time for bitcoin transaction confirmation.

I do not know how bitcoin network will work at that time, but I think it can happen, it will make scalability issue to totally ans finally be solved at the time.

What is your opinion?
15  Economy / Exchanges / Custodial crypto exchange hack as usual on: April 30, 2021, 04:15:21 PM
Recently I was reading about how custodial exchanges are hacked, there has been several exchanges that has been hacked since 2011 till now, and the last one that happened was just this Thursday that have just passed away which was yesterday, the exchange involved was hotbit, it was not an actual hack that led to loss of coins, but the hotbit database was compromised by hackers.

What makes me surprise after the whole reading, I noticed custodial exchange are making use of hot wallet for customers satisfaction, that alone will encourage hackers that they can do it, that they can be able to hack exchanges because they are using hot wallet wallet to handle customers cryptocurrencies.

Quote
https://hotbit.zendesk.com/hc/en-us/articles/1500008915521-Hotbit-s-Announcement-on-Emergency-Maintenance

If you have an account on Hotbit, the following are things you should be aware of
1. The attacker has already gained access to the database, so your registration phone number, email address and asset data might have leaking risk. However, the password and 2FA key are encrypted so theoriotically should be safe. But from the security point of view, if your account and password on another website or app are the same as Hotbit's, it is safer to change the password now;

2. If you receive an email or private message in the name of Hotbit, you can contact us through official channels (Twitter, Facebook, Telegram) to verify identity before replying;

3. Leveraged ETF products are not suitable for long-term holding and therefore Hotbit will be fully responsible for all losses suffered by the position-holder during the maintenance period.

4. Your Open Orders on Hotbit will be canceled when the system is restored to avoid unintended trading losses.

5. All daily routine income distributions (such as investment products, current products and FIL cloud computing power ) will be paid out after the maintenance is completed .

Never hodl on exchanges, move your funds to noncustodial wallet, offline wallet is the best for security.
16  Economy / Service Discussion / New update on blockchain.com explorer on: April 30, 2021, 12:12:52 AM
At last that blockchain.com explorer updated from the old transaction fee representation to the modern one. Not that the explorer is not representing transaction in weight before but it was only represented in weight unit which people are not making use of to calculate their transaction fee. People were making use of sat/byte before until segwit were introduced that now makes people to calculate their fee in sat/vbyte. Now the explorer is representing transactions using vbyte now.



 

What I still like about this is that the vbyte can also be checked along but it will be good for the site to also indicate if a transaction is flagged to support RBF.

I still prefer blockchair.com to be the best though because it has all I needed including showing transactions that support RBF or not.
17  Bitcoin / Bitcoin Discussion / Bitcoin dominance reach below 50% but back to over 50% in no time on: April 25, 2021, 08:47:56 PM
Bitcoin marketcap dominance was lower than 50% last week according to Coinmarketcap, but not long when it increased back above 70%, according to the news I read, the bitcoin dominance at the start of this years was 70.68%, but decreased to 49.35% last week Thursday. The last time bitcoin dominance was below 50% was in January 2018. 2018 was the worst year for bitcoin ever as its price decreased below what many people could expect. The price has increased significantly some days before 2020 halving and continue to increase till this month of April.

But I am thinking it is possible the decrease in dominance just like 2018 (below 50%) is indicating another bear market like that of 2018 gradually setting in. What is your opinion about this? Though bitcoin price can not fall below certain range even if it decreased.


18  Other / Beginners & Help / Lightning bitcoin payment on this forum on: April 21, 2021, 07:36:32 PM
I have noticed one thing, that signature on this forum are not yet using bitcoin lightning network payment. Lightning network payment makes bitcoin transaction cheaper and faster and it is supported by some recommended wallets by now, two of the good wallets are bluewallet and electrum. I have not used lightning network before but I will prefer electrum because it is noncustodial and yet open source.

I believe campaign managers will be the best to answer this question, I will like campaign managers to give some valid reasons they are not yet using lightning network for paying, also people can comment about any suggested reasons they are thinking to be the reason.

Or is lightning payment not yet safe?
19  Other / Beginners & Help / The bad side of close source wallets on: April 18, 2021, 10:35:43 AM
When bitcoin was created, wallets are open source until some gone close source. Even there were some close source wallet now that were open source before, like the Coinomi and Trust wallet (iOS version), both has now gone close source. Satoshi's ambition was to make everything about cryptocurrencies to be open source, but some people are thinking differently in a way they prefer it to be close source. Some have the excuse that open source wallets codes are known to the whole public and can be copied with little changes to introduce vulnerabilities that can steal coins from users, but the bad side of close source wallets is far beyond that.

Today I checked the app stores to noticed the world have preferred close source wallets, having millions of downloads. I was not surprised because people are getting scammed daily after several warnings about scam, but people will being people, they like what is latest, they like what others are going for, people do not care if it is authentic or not but just follow others, most people are not making there own researches before going for anything.

Close source wallets misleading the world, a way legit companies might become the problem of tomorrow
What is called legit in life? You are the legit because you can not do yourself harm, but others are not legit aside anything open source. But there are others that gain peoples trust while they are called legit also, but they might do harm in the future if you do not know about them, that is why open source is very important.

The future the introduction of spyware and other vulnerabilities into close source wallets and apps
Most people are now depending on close source wallets, but they do not think of the future, people will still being people, nothing is legit than yourself and anything that is open source to you, close source wallets and apps are the potential risks of the future in a way they may spy on you or have others ways to cause you ham, or even collaboratimf with governments to spy on you Ina way they will be custodial while people will think they are noncustodial. Which means close source can create ways to let noncustodial wallets to have source codes that will make them custodial.

People should go for open source wallets
This is not necessary but if you like your bitcoin better go for open source if you need privacy. Open source is what you can trust after you because you know the source codes unlike close source.
20  Other / Beginners & Help / Be careful of anything custodial on: April 17, 2021, 01:26:56 PM
Before the onset of cryptocurrencies, there were scammers, some people try all ways to make sure they avoid scam, some looks for many ways and have greater chances to not fall being scammed, that is why people need to know many of the ways scammers operate to scam people, this will help people to avoid the bad online actors.

The main reason for this thread is not about scammers but about custodial companies that are now making use of cryptocurrencies to easily scam people. These custodial companies are legit exchanges and other ones like crypto gambling sites and others that their users make use of cryptocurrencies as deposit and withdrawal.

Many people because of privacy make use of bitcoin coinjoin wallet, they will deposit into such their account, but their account will be locked, I know many people that are not scammers make use of wallets that coinjoin, payjoin or mixes. They will not know that exchanges or other companies like that will know such transaction, they will pay bitcoin into their account on the company site and their account will be locked,they will be unable to use the account.

It is not only about coinjoin, but many other reasons why account will be locked. That aside, there are many other ways these companies are making money from people, like:

1. Paying a token into your account that their company is not yet supporting, the token will be lost
2. Mistake deposit of bitcoin into bitcoin cash address or otherwise
3. Not making use of memo, tag or message for coins that support it like binance coin and ripple

My advice
1. Have your private key
2. Depend more on noncustodial wallets
3. Make use of noncustodial exchange if it can carry out the task your want
4. Do not send coinjoined bitcoin to custodial exchanges
5. Also, not among but necessary. Try all ways to avoid scammers.

I am not saying you should not make use of custodial companies, but be careful of all ways they can steal your coins. Know that if you want to have the full control of your coin, you need the private key, custodial companies can not give you the private key, they have it. But noncustodial wallets will generate private key for you.

I have a question
Where are the coins of the custodial account that are locked be transferred to. With it be transferred to the government or the exchange uses the power they have to let the coins remain with them which is a scam.
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