Bitcoin Forum
May 11, 2024, 09:23:23 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 2 3 [4] 5 6 7 »
61  Economy / Economics / Decentralized assets might be the saving grace after the war on: March 02, 2022, 09:04:44 AM
When ever the thoughts of war rings many seems not to look after the effect it will likely play on the economy and the cost of restructuring damaged property even the devaluation of local currencies. It's sad Putin took laws in his hands by invading Ukraine and i guess the outcome now might not be what he actually expected and at the moment where Russia has gotten different sanctions it will be wiser for Russian citizens to switch most of their assets to decentralized cryptocurrencies so they have a link to bounce back to after the war.

For Ukraine i guess NATO and other world organizations will make donations to help rebuild the nation but for Russia it will be starting up a new economy from what ever is left having tampered most of their reserve to build sophisticated weapons which has served as a treat to other countries who wished to help Ukraine. But i feel the numerous sanctions so far might serve it's own purpose to help curb the attack on Ukraine

# let peace lead
#Putin should consider the lives he has wasted
62  Other / Beginners & Help / I was wondering will 21,000 million satisfy? on: February 23, 2022, 02:35:37 PM
By the year 2140 the last bitcoin that will ever be mined will have been mined and then miners will switch completely to transaction fees as their reward for validating transactions. mine you full node miners perform basically two functions which include:
  • validate transactions
  • mint new coins
Before we consider this two functions. The bitcoin halving which occurs every four years ensures the total number of bitcoin that will ever be in existence will not exceed 21,000 million bitcoin.

will 21,000 million bitcoin be enough for the masses
Bitcoin is highly divisible. meaning in every 1 bitcoin there 100 million  satoshi's and the smallest sat is 0.00000001(1millibit) so its highly divisible nature will make bitcoin available to the masses and will be more than enough

What if miners decides to increases the bitcoin number is it really possible?
Yes it can be achieved but it simply means majority of the nodes that encompasses different miners on the network has to be in agreement and what eventually happens if more nodes are against this Then Bitcoin will definitely become two since the miners might likely spit since there are no longer in consensus.

if they split what will happen to the two bitcoin values
It just like having an original and a fake product. One will inflate and the other will deflate

since both are built on the same open source code why can't the two add up the same value
Now both might be tackling the same decentralized asset ownership and spending issue but since both will run on different software one will defintely get more adoption than the other and what controls market price is demand and supplyso both might not gain equal attention.

What are your take on this?
63  Other / Meta / What do the forum mean by leet on: February 19, 2022, 12:45:23 PM
I just checked my Bitcoin account profile and saw leet instead of my last post count I had to Google the meaning of the word but still didn't get the exact word I was looking for please can I get clearity 'The term "leet" is derived from the word elite, used as an adjective to describe skill or accomplishment, especially in the fields " but still can't gets it's relationship to the forum any help?

64  Bitcoin / Bitcoin Discussion / One Remarkable thing about Bitcoin on: February 16, 2022, 01:12:29 PM
In the present econometric society where compromised and unreliable database has stirred up doubts and trust issues amongst citizens in a  centralized society came a technology that actually proved integrity can be maintained using a distributed ledger that runs on a decentralized network  doing this through a proof of work algorithm to achieve a global consensus which has been a major challenge in all manipulative and controlled centralized database in any distributed computing.

Bitcoin birth has triggered lots of inquisitiveness to the mystery behind the technology even though cryptography existed as far back as 1990s, this early cryptographic discoveries didn't see any significant progress because it was tied down to a centralized value (basically gold and fiat) after its creation this gave room to different manipulations and compromise making sure the poor never had access to play part in the big game so the can always keep the masses in check.

what has bitcoin got to do with this:
Satoshi has cleared the doubt that transparent, well trusted  and reliable database can be generated in a decentralized network where no central third party serve as an intermediary how? it is simple by solving the Byzantine General's problem which is a process where a collective network of individuals or central authority tries to effect a change, follow  a course of action or make a general agreement on the state of a system on a highly compromised and unreliable network.

[/b] How was satoshi able to solve this?[/b]
Satoshi was able to solve this big economic issue by introducing a decentralized public ledger that relies on a proof of work algorithm to establish any valid consensus. Which means nothing on the network is hidden and no process can be undone since tampering with a single data on the blockchain will affect every other entry down to the genesis block rendering the whole database void and all this approach don't need a central authority to decide which data comes first rather than a consensus of the nodes on the network even satoshi himself doesn't have autonomy over the network what a selfless service

Why should this be your concern
A new technology is launched and is creping into our financial institution gradually it might not necessarily replace the fiat currency but one this i am excited about is that on the long run it will spring up innovations to improve on the centralization issues and still give more edge to bitcoin adoption either as a technology, a currency , an asset or a network which ever way Bitcoin will get more adoption. cheers!!
65  Bitcoin / Development & Technical Discussion / Mempool clearity on: February 14, 2022, 11:42:17 AM
I just need a little clarity on the mempool transactions. If a transaction is already verified wouldn't it be automatically added to the previously hashed block what other confirmation is actually needed if the nodes on the network has already verified the transaction I got confused with the concept so I decided to do a share here to get more clearity. Who else is responsible for the confirmation since the nodes has done the verification already?
66  Bitcoin / Bitcoin Discussion / What would you improve about Bitcoin if you had the chance ? on: February 11, 2022, 06:33:05 PM
In as much as my private key gives me full control of my funds and it grants me access to sign a transaction if it gets misplaced then I'm doom for life. What if there was an improvement on this maybe a way of recovering back ones private key if it gets misplaced even if it would take a proof of work alogrithm or even a more tudious process but having a chance to get back lost wallets in cases of carelessness or maybe hazardous damage since it's not advisable to store private keys online nor would it possible for everyone to memorize this combined alpha-numeric values of SHA256 alogrithm
67  Other / Beginners & Help / after 2140 on: February 08, 2022, 03:15:02 PM
once the last bitcoin is mined possibly by 2140 hitting the said target of 21million bitcoin in circulation after series of halving before the said date as proposed by satoshi will there be honest nodes who will be satisfied with earning only from transaction fee?. So far we have reached series of consensus in the blocks, having honest nodes who  have maintained a good public ledger and has helped make bitcoin appreciated by all. I know the existing nodes will continue to stay honest but how about future volunteers who would choose to mine in the future will transaction fee be enough to compensate them for their time as the consistently confirm transactions through consensus algorithm thereby creating new honest blocks. sorry if my thoughts is weird but i just feel concerned since bitcoin belongs to us all.
68  Economy / Economics / Let's assume David chaum took the $180 million in 1999 on: February 01, 2022, 05:14:42 PM
David chaum the founder of the first crypto currency (Digicash) that stirred up lots of reactions way back 1999. After been offered $180 million on his inventory by Microsoft who had plans on installing it on every computer which he turned down even when he didn't have much funds to sponsor the project and didn't even know how to sell his digital currency to the world and when he went bankrupt the idea died. Let's assume Chaum sold his project to Microsoft would it have had similar impact Bitcoin has on the society today. Will the market capitalization be as high as Bitcoin or would it still have failed?. If it had made much progress would Bitcoin have taken the place of been addressed as an altcoin?
69  Other / Politics & Society / Former miss USA jumps to her death on: January 31, 2022, 01:07:11 PM
Quote
A woman who jumped to her death from a New York City high rise apartment building has been identified as former Miss USA Cheslie Kryst.

The 2019 pageant winner who had a ninth floor apartment in Manhattan’s 60-storey Orion Building was found dead in the street below on Sunday morning.

The 30-year-old was last seen on a terrace win the building’s 29th floor shortly after 7am, sources told The New York Post.


broken,” the company said in a statement.

“Cheslie was not just a vital part of our show. She was a beloved part of our Extra family and touched the entire staff. Our deepest condolences to all her family and friends.”

Just hours before her death, Kryst wrote on Instagram, “May this day bring you rest and peace.”

Investigators have not said why they believed she took her own life, according to the Post.
I just believe money and fame isn't just enough in our present society even the rich also cry. It would be nicer if we don't just sit back and assume people are doing fine because we feel they have the money to buy what ever they need I wish someone was able to talk her out of this. I can't still wrap my head around why this Pretty damsel will have to end her own life this way. [Rest in peace Former Miss USA Cheslie Kryst. It's too hard to say  I wish this wasn't true Cry Cry

70  Economy / Trading Discussion / Don't be wiser than the market on: January 27, 2022, 02:42:27 PM
Following the 📉📈 has been the best advice and has been the most secure way of making it big in trading a principle that will bring about a smooth profit reality but most times we predict where we want the market to go. Been too sure could cost you alot, remember trend change and no market direction lasts for ever.

Take the little you can and leave will help build a good trading account. If it doesn't work out In a single trade take a rest and try again some other day. The market is always flourishing don't allow greed buy away the good analysis and strategies you built over the years. It's one thing to learn and another thing to earn. It's one thing to know a strategy and another to use it against the market tragedy. Instead of deciding for the market take the little you been offered and come back another day.

71  Economy / Economics / If you don't buy don't come here to complain on: January 25, 2022, 09:30:33 PM
Another opportunity has created for new investors to have some good coins listed in their portfolio. Many who bought higher now leave at the mercy of the market but for those who were scared of how high the price flew within a short time now has a better chance of joining the market at a good market value.

My agitation now is no one should come back shouting about missed opportunity in the future I think since late last year the market has been a bit fair to new investors giving them opportunity to join the train. Everyone can be a millionaire in crypto attitude towards market volatility is what makes the clear difference
72  Economy / Speculation / New year new speculation on: January 01, 2022, 03:03:16 PM
A dawn of a new year is here we must have drafted new ATH for our various crypto currency stocked in our various wallets. It would be nice we share down our expectations so as it serve as an investment guide to many who might not have the chance to study chats or for investors who can't interpret chats.For you which coin are you expecting to go massively high and what strategy are you using
73  Economy / Trading Discussion / Buy more so you can sell some on: December 09, 2021, 10:56:37 AM
Holding is only for those you can afford to take risks for the rainy day and as long as the earth remains challanges are part of human experience and as such so much would tempt one sell some coin. But there is always a short break for every human figure represented on earth where you have little or no need for money but it keeps coming in and that's the best time to invest other than save.

Saving has been the traditional way of planning for the future where people bank their funds in commercial banking sector waiting for when the need to take back from the bank arises even when we had centralized stocks where people could invest in many still thought it was wiser to deal directly with banks other than investing.

Currently the ecosystem has changed and the pandemic outbreak launched in a new era where people's need became even more insatiable and spiked the cost of livelihood. To tackle the present state of economic challenge investing is more.preferred to saving even though it's more risky but a diversied portfolio is more secured than mere saving
74  Economy / Economics / No where is actually safe on: November 26, 2021, 09:04:13 PM
Many are living their businesses to turn to crypto with the mind of joining the trend and with the way crypto investment is been hyped lately many just feel its actually one of those easiest way to make money online and the funny part is most of them dive into this opportunity without any formal knowledge about how the system works.

I will say crypto isn't a safe Haven and there is no 100% guarantee in crypto investment although one can attest to the fact crypto isn't ponzi but yet it's not just an easy adventure its an ever learning business option that could be passively yielding and at the same time bankrupt yielding depending on ones approach.

If crypto was that easy to go by we would have had more than half of the world's population living very comfortably not giving much concern to their economic data any longer. But the truth remains crypto investment is more difficult compared to manual businesses
75  Economy / Economics / Prospective retailer on: November 25, 2021, 10:00:24 PM
Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an  untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations
76  Other / Meta / Can a permanent ban be reconsidered on: November 18, 2021, 06:07:39 PM
if a user gets banned is there any possibility of such user to recover their accounts after some years or are there programs organized by forum moderators that can help users recover banned accounts. The reason of my thread is not to encourage plagiarism nor other offense that might lead to permanent ban.

But it's stressful growing an account from scratch to a high profiled account only to get banned permanently without any form of future consideration. At least a process can be adopted even if it's would be a very stressful one but atleast there should be a way to recover a permanently banned account
77  Bitcoin / Bitcoin Discussion / Is Bitcoin transaction fee fixed? on: October 15, 2021, 01:55:23 PM
After  solving the arithmetic logarithm by the miners to choose who would  carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
78  Economy / Trading Discussion / Now the price is bullish on: October 12, 2021, 08:33:52 PM
This is just a reminder that the bull run wouldn't last for ever hope your profit plan has been drafted so once you have it you can start converting some to stable coin while you wait for the bear market to take another advantage of buying more.

If you haven't done your profit plan it's better done now or dwell in regret when the bear moment starts. If greed appetite would be a challenge then it's good to start dealing with it now the market hasn't done above it's current ATHs I'm so sure lots of people would still not be prepared for the next bear move preparation is what you need to take good advantage
79  Bitcoin / Bitcoin Discussion / Is bitcoin an asset or a currency? on: September 28, 2021, 09:17:46 AM
I have been in lots of argument lately with close friends who keep dragging this subject matter. A friend of mine was of the opinion that an asset is any commodity that has a unit of symbol with monetary value attached to it while a currency has an exchange value that can be used in exchange for commodities. This very friend was of the opinion that bitcoin isn't a currency that its an asset because its value isn't stable and has volatility

Another said bitcoin is both an asset and a currency depending how the user chooses to treat it. He was of the opinion that while bitcoin can be used in exchange for goods and services it can also serve as a store of value where you convert your fiat to a digital asset waiting for it to appreciate.

For me I will go with my other friend who said bitcoin can serve both purposes which depends on two major factors:
  • Your country
  • You as an individual

Your country:
In my opinion you can't use bitcoin as a currency in a country where it is not legalized or a country where bitcoin is banned. Some countries has restricted ezchnagers from carrying out their business within the region so in such places you can't use your coin for commercial purpose you it will only serve as an asset

As an individual:
This is based on your choice if you are lucky enough to base in a country where bitcoin is legalized or a country where the government decides to remain mute of crypto related issues you can decide either to store yours as an asset or use it as a currency. But in countries with low civilization you will have the challenge of using it as a currency because it hasn't been accepted as a legal tender.

what is your take on this
80  Economy / Trading Discussion / [scalpers] Don't just join a moving train on: September 15, 2021, 06:30:23 AM
Scalping is one type of Trading where traders trade based on the direction of a particular candle stick waiting to take profit once the candle makes a little move above the entry point. This Trading technique can be very attractive and fast way to make profit but it can keep a trader stock mostly when the decide to scalp at the end of a trend and get carried away by it's volatility.

Just imagine joining a train when it's has gotten to it's final destination. Certainly it would have to take you back to it's original stating point before it got to where you meet it. Most scalpers I know don't trade the obvious the just follow the candle volatility. From my observation I discovered scalpers avoid stop loss because the are scared of been stopped out of a trade too early only for the trade to end up going in their direction.

Scalping is one kind of trading that requires your smartness to know when to take the available profit and close your trade
Pages: « 1 2 3 [4] 5 6 7 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!