[My Lessons While Away]

I count it a great privilege to be welcomed back again to the forum, it's been really some years ago now and I've for every seconds appreciated the admin (Cyrus) for bringing this opportunity out to serve as a second chance, I want to say that it's also an avenue for me to sit tight and prove right the good works I've got to offer and contribute to the community.

My Lessons While Away

I've got to see that life is in phases and the more we go the better we see things in their reality, sometimes we try to give even what we don't have, we tend to force it out at all wish but it all seems a failed attempt until we break up the limit to what we can't afford to bear or face the consequences, an express way in life is allowed, but not when a novice driver is over speeding the road, he may landed into a big trouble with accident which I think is one of the reasons that caused by being banned for paraphrasing as a newbie then, though rank or position is never an excuse for breaking the law, that is way we must read and learn them.

My Advice For Newbies and other Members

We are to make use of every opportunity we have wisely, there's an expectation on us when we come to the forum to first go through the guidelines we have here, there are pinned threads, posting styles and guides including the rules and regulations that guides every members of this forum, start by learning something meaningful by yourself and from what others are contributing and from there you begin to experience the evidence of growth before giving out your own.

My Appreciation

I want to use this medium in thanking Cyrus for giving me the approval for a second chance on the forum, honestly I never thought it could be possible neither do I have an expectation on that, but it came in as a surprise anyway, and will never take that for granted, also to all other members of the community, am glad in joining you altogether towards giving the best, thank you all.

[My Questions]

One of the major role of the Anti Monetary Laundry (AML) agency under government Financial Regulatory System is to apprehend any form of loot or suspected individual or organization for money laundry, fund mismanagement and embazzlement, I understand the traditional fiat banking system has different account opening categories, example: we have children account, student account, business account and government account each in their respective tiers.

If any sudden transaction occur beyond the account category and is suspected then the bank raise an alert to the agencies in control of monetary system leading to an investigation and prob of the account holder and if found unable to defend with cognate reasons and proofs that the transaction is not fraudulent then the account holder will be apprehended and charged to face the law.

When i come across this thread Someone Just Moved $2,071,215,368 Worth of Bitcoin in a Single Transaction I asked myself, is Cryptocurrency going to be an abode for scammer and financial looters who has gone outrageous against the law and find crypto as a "home of no query" as to where a huge amount of Bitcoin stated above could just landed in without a background check (investigation) of the person involved with such huge amount source.

i made a post recently on how the British Police seize $2.7 million worth of bitcoin from a teenager after running scam on a fake website, this is exactly my  focal point, this couldn't have accumulated such huge amount if it were to be the fiat bank he uses to save the fund.

I also understand this is one of the reasons why some countries are yet to adopt bitcoin because their believe in that crypto is a fraudulent game and those engaged in it are solely scamming unscrupulous individuals.

My Questions
1. Is there a limit to certain amount of bitcoin per transaction each type of wallet can accommodate?

2. How can the menace of scammers, fund looters and embazzler using Cryptocurrency as a covering to hide and safeguard their looted currency end, knowing fully that going to the banks they will be apprehended?

As the rate of Cryptocurrency adoption increases daily the more effective awareness and campaign were raised to educate people on digital currency (crypto), this has bring about the expression of interest and caution projected by the prime minister of Thailand, he said and i quote:"Many crypto investment platforms in Thailand operate illegally, and the Prime Minister has warned the public to be watchful when using these platforms, as legal recourse is not possible, should something go wrong. These platforms often use advertising hype to attract traders.

While the Prime Minister is glad that people are investing, he would like citizens to consider that they could lose all their investments and must consider investments carefully, especially when opening trading accounts for children". The fact that he show interest in people Investing clear the air of unnecessary doubt regarding it operations and just as the fiat banks can open an account for underage same they fully understand that crypto investment shouldn't be left alone with the tender age (children) alone and any investment must be thoroughly investigated before engagement.

Base on my observations regarding challenges some countries had with crypto firms due to it lack of being regulated, though its true anyone from nowhere can come up with crypto trading investment and later turn a scam but how can we balance the challenges encountered by genuine investments, exchanges, custodians and mining firms to fully operate without the encounter of regulation requirement by their respective governments?

Digital Currency burning is believed to be a permanent  removal of a particular coin or token from circulation in a bid to avoid inflation. otherwise,Coin burning is a process where cryptocurrency miners and developers remove a specific portion of coins from circulation to control their price. It is a common industry practice to incentivize long-term holding among users, by managing the price through restricting supply, i have a pool of questions regarding this for the benefit of leaning and educating crypto beginners on the forum.

1. Ever since Bitcoin Inception and launched in 2009 till date, has it ever experience any form of burning?

2. Considering the bearish and bullish run of bitcoin price, does currency burning has any effect on determining bitcoin price?

3. With the use of "eater address" how effective can it be in identifying currency sent to a wrong wallet  address.

4. How can digital currency burn be carried out on a particular wallet address of a deceased person effectively without compromise.

As the era of digitalization of (crypto) continue to gain new trends in taking over the world economy system with the highest population (users), it is also a relevant point to understand the technique involved behind it which is "Blockchain Technology". The Blockchain technology is currently used across various industries like supply chain, healthcare, retail, media and advertising, financial services, insurance, travel and transportation, oil and gas, and gaming.


The blockchain is an immutable (unchangeable, meaning a transaction or file recorded cannot be changed) distributed digital ledger (digital record of transactions or data stored in multiple places on a computer network) with many use cases beyond cryptocurrencies.

The blockchain platform is a promising venture for many entities because of its authorization and ability to record transactions and company engagements accurately.


Types of Blockchain
1. Public Blockchain
2. Private Blockchain
3. Hybrid Blockchain or Consortium
4. Sidechains

With the use of Blockchain Technology and it application, a new technical development is set as Africa’s Digital Economy is said to be one of the leading in Cryptocurrency growth and the use of Blockchain technology to help drive the growth of African businesses. Recently, one of the most well recognized integrated digital payment and e-commerce company, "Interswitch Group" has unveiled its whitepaper on blockchain titled “Blockchain Technology:


The white paper document contains details on how businesses can leverage blockchain technology to transform their businesses and the prospects it portends for the future of Africa’s digital economy.
Also this development was inspired by the need to demystify the ambiguity around blockchain technology for African businesses thereby driving digitization and socio-economic growth across African markets.

Am convinced the use of Blockchain Technology system in Africa's businesses and economy at large will place a delicable impact and stand a game changer of fiat traditional system to digital Blockchain Technology system.

https://blockgeeks.com/guides/how-does-blockchain-work/
https://www.vanguardngr.com/2021/10/interswitch-unveils-whitepaper-on-blockchain-technology/amp/

It has been a challenging threat on how to pause and cancel an ethereum pending transaction while experts has deem fit to looking further into providing a guide on how to achieve this, it is also believed that many find it difficult atimes in performing basic ethereum transactions due to service challenges or misappropriation of data, this thread provided is a link to learning more aboutHow to modify or cancel a pending Ethereum transaction

On the other side of new development and innovations is "Facebook Diem" which is said to be launch sooner with the ability to standout in leading  other Cryptocurrency, it could be recalled on the recent shut down of the mark zukarbergs network lasting for over ten hours, which was as a result of upgrade and maintenance for a better service experience and some days following it came the news thread on the company's intention to soon launch its own currency, this project was initially on a run before the suspension with the name "Facebook Libra" but now it was rebranded to bear "Facebook  Diem".

Now the believe is said to have the attention of the major subscribers of the network since its the leading social media network, and its launch of this global digital currency could ease the use of the block chain technology by it subscribers, the project will have it stable coin Called "Diem" which will be fully operational on the block chain technology as moves have been put in place towards it launch soon.

the main idea in projection is to run Diem on the block chain technology but will not be decentralized and this will help the global world make ease in their financial service transactions and the Diem project is awaiting approval from the US regulators, this Facebook Diem currency will have not much difference from the usual Bitcoin and other Cryptocurrency other than not been decentralized.

The Facebook Diem is said to have come with this three pillars of success to make it outstanding.

1. A reliable block chain technological foundation
2. Novi digital wallet
3. uniqueness of the coin "Diem

Core values of Facebook Diem
People ought to own the right of control over their legal labor and its outcomes.

More people should have access to financial services.

Global payment networks should be open, cheaper to use, and have better speed. All of these translate to better economic opportunities and more effective global commerce.

Slowly but eventually, people will build their trust in a variety of distributed forms of governance.

In addition to supporting ethical agents and consistently upholding the integrity of payments, people and institutions are responsible for driving the growth of financial inclusion.

An open and much broader payment network, with unmatched levels of interoperability, along with high compliance standards, should follow the governance and design practices.

Relevant points of applications
E-commerce
Remittance
Governance
Cross boarder transactions

anonymous opinions were raised on the possibilities weather to achieve this a reality while contrary objections and motions too were made on impossibility, that Facebook cannot be run on block chain or decentralization, what is our perspective regarding this. One currency to rule them all: Facebook Diem has global ambition.

It is believed that every life has a challenging story of the past to tell, as it is being said, no glory without story as one of the famous suoer eagle's player Victor Osimhen who is an active and perpetual young player for Napoly has deem fit to take a bold step forward in sharing about his live story and past experience, challenges and the motivation that makes him who he is till date as his profile read thus:

Osimhen, who was born in Lagos, completed an €80m deal to move from Lille to Napoli in the summer of 2020 becoming the most expensive African player of all time. The 22-year-old, a product of Ultimate Strikers Academy, made his breakthrough when he signed a three-and-a-half-year deal with Wolfsburg in 2017.

He then moved to Belgium and France playing for Charleroi and Lille respectively. He scored 18 goals in 38 appearances across all competitions with the Ligue 1 side before moving to Napoli on a permanent deal. In his debut season in Naples, the Nigeria international scored 10 goals in 24 Serie A appearances at Stadio Maradona.

“I remember when I was growing up, I was cleaning the gutters for 20 Naira, for my landlord and did some cleaning jobs for my neighbours close to my house, fetch water for 80 Naira, I think. You can read furthermore on his life challenging story I grew up cleaning gutters, fetching water for a living – Osimhen we can share along here other players who's success story can be a life touching experience as we all can learn from.

Considering how often i make bitcoin transactions this days on several occasions and different purpose, I've come to think of it that do i really have privacy with all these transactions am doing?... then i begin to run a research on how to secure my privacy on bitcoin transactions which birth to writing these thread.

 It is believed that tracing Bitcoin wallet address/transactions is pseudo-anonymity meaning it may and may not be traceable with the use of forensic analysis as all transaction records were stored on a public ledger on the block chain which anyone can see.


It is paramount to note that seing the transactions that occur on the public ledger of block chain technology is not tantamount to revealing the details for the Bitcoin transaction and the public keys but can lead to, although multiple addresses can be linked up using the blockchain for lookup.

Otherwise, Virtual Assets Service Providers (VASP) has the transaction details of Bitcoin addresses linked on the block chain technology with exchanges, custodial wallets, and custodians which provide cryptocurrency services to retail users and businesses in which all the required details of know your customer (KYC) given at the registration point can be use to trace your real world identity.

Transactions can be traced using the app Coinpath® app which is efficient in tracing Bitcoin transactions and Bitquery explorer use to track money flow in graphical representation all on the block chain technology, while simple payment verification (SPV) which connects to the central server is also a challenging factor regarding privacy.

Let’s see an example of an hacker on how to trace bitcoin transactions using Coinpath® technology.

The bitcoin address mentioned here belongs to the hacker —bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh

Coinpath® APIs give you all the source and destination addresses that sent or received transactions from any bitcoin address. image below shows the top 10 addresses, which received bitcoins from the hacker’s address.


As we can see, a Binance exchange wallet received the transaction from the hacker’s address. However, the hacker used multiple intermediate wallets before sending money to the Binance wallet.
Using the Binance KYC solution, we can identify who received this money and conduct further investigation as the details and identity of the user can be given.

Knowing fully how privacy can be difficult on exchanges, centralized services and SPV wallets, are there possible means one can use non custodial wallet like SPV and still maintain having privacy? Also i understand how this can be wrongly abused by scammers but for the sake of respective corporate and individual's personal desire for privacy not to be overlooked.

https://www.luno.com/learn/en/article/can-you-trace-a-bitcoin-address
https://bitquery.io/blog/trace-bitcoin-transaction-and-address

Deontay Wilder Banned For Months After Suffering Serious Injuries And Cuts During His Defeat To Tyson Fury
The match is really indeed the clash of the Titans, a survival for the fittest while the ban placed was for him to rest, settle down and recover the serious injuries incurred in a bid get ready and stand fit for next fixtures after 6 months.
How is our intake on the victory and defeated side?
https://l.kphx.net/s?d=335956014264018234

one of the most well known mining company "Bitfarms" is set to establish a mining station in Argentina with the project target to employ about 55,000 miners by the end of 2022, this is a great opportunity placed on for the people in terms of employment and poverty elevation, Cryptocurrency is truly giving back to the community indeed with diverse opportunities.

one of the focus challenges to be encountered through this process is the energy source required (power supply) and a desirable location for the site to be stationed. this project target on Bitfarms focal view in a bid to seeking a new location to site another of it mega mining company at, Bitfarms start construction of mega Bitcoin mining farm in Argentina

in furtherance to this, are there other suitable locations that could be of greater advantage of power supply with infrastructural conditions favourable for accommodation within Argentina while contrary opinions on this development is welcome.

Sorare one of the well known football betting company is under investigation by the UK betting commission to see if it underwent through all necessary documentation required for gambling license or not in a statement:
"The Gambling Commission is currently carrying out enquiries into the company to establish whether Sorare.com requires an operating licence or whether the services it provides do not constitute gambling”. While at the other end Sorare made a comment that it need no any evidence of license in other for it to operate.

And further buttress that “When a product with a nascent technology becomes successful, such as Sorare’s digital collectable cards and game, it is normal and expected to be regulatory questions”. Which implies that when a firm is at the peak of success breaking old redords of fame then the government comes in with diverse intruding techniques in disguise for investigation in other to spy.sorare under investigation by Great Britain And to the football lovers, must a betting company undergoes government license to keep it regulated or not.

one of the most well known mining company "Bitfarms" is set to establish a mining station in Argentina with the project target to employ about 55,000 miners by the end of 2022, this is a great opportunity placed on for the people in terms of employment and poverty alleviation, Cryptocurrency is truly giving back to the community indeed with diverse opportunities.

one of the focus challenges to be encountered through this process is the energy source required (power supply) and a desirable location for the site to be stationed. this project target on Bitfarms focal view in a bid to seeking a new location to site another of it mega mining company at, Bitfarms start construction of mega Bitcoin mining farm in Argentina

in furtherance to this, are there other suitable locations that could be of greater advantage of power supply with infrastructural conditions favourable for accommodation within Argentina while contrary opinions on this development is welcome.

October has been declared a month for the bearish move of Bitcoin since the inception of the positive signals amidst notions predicted, and yet it come to a reality as Bitcoin hit an Hallmark of $31 billion on daily settlement value this same month while it bearish move landed at $56k tremendously, unfortunately to altcoins happens that no observable changes is encountered.

Also, Bitcoin emerges with an outstanding surge to have as at last year with transactions rates increased with over 40% till date, isn't it coming to reality as recently predicted of Bitcoin to reach between $90k to $120k before the end of 2021. Wouldn't it be regrettable to those who fail to have invested earlier on as more visible futures is in Bitcoin, thou its the first crypto and yet maintain it uniqueness and standard among others.Bitcoin trades at $56,000 as daily settlement value hits $31 billion what is our respective intake towards this developments.

The authority of the South African conduct financial authority has taken a further actions in pursuit to put oandn hold ongoing activities of binance and new account cannot be created for it new users due to restriction placed to pause some of it activities due to lack of compliance to being regulated not to provide advisory financial service as it is believed to be running some underground insider manipulations in its trading activities.

Am not coming for the first time toward threads that talks about Binance secret agender on having manipulations discrepancy within its system of operations, is it possible to be true despite all the fame and reputation it has in place and wouldn't the pause in offering some services to South Africans affect the rate of it patronage and many crypto transactions held in Ransom?
Crypto Exchange Binance Terminates Some Services in South Africa After Warning by Regulator

Considering the extent to how Cryptocurrency investment scam is increasing daily, it is also a desiring act to raise a counter campaign against it as information gives power to direct, we all know how the experience feels like if once being a scam victim, mistakes sometimes are inevitable if knowledge is in absentia.
The aim of this is to enlighten begginers on current and future elements of scam to look in for before investing in Cryptocurrency

FOCUS POINTS:
investment scam
warning signs
Online scams

Investment scam is having a deceptive mind to lure, frame lies or fake things that appear interesting to individuals or group as an opportunity to make profit from but with a contrary intention not to pay or refund the victim back both funds and earnings after due task has been rendered.

it is advisable not to invest on what you're doubting about or lack the technical knowledge of, else you have reliable proves to ascertain such.
we have some investment with examples such as:
Cryptocurrency, forex trading, Ponzi schemes, these has the highest lead of perpetrators and victims.

A scam can take many forms, this could include:

a fake cryptocurrency which doesn’t and won’t ever exist – for example if it’s a fake Initial Coin Offering (ICO)

a bogus investment which promises to put money in a legitimate cryptocurrency

a dangerous website link that then downloads malware onto your computer

Companies contact you out of the blue.  This could be through a cold call, text, message on social media, email or brochure.

They pressure you into making a rushed decision.  This could be with a limited time offer, bonus or discount if you sign up before a deadline.

They call or email you repeatedly or keep you on the line. This is to try keep you engaged so they can pressure you to make a rushed decision.

It seems too good to be true.  The old saying rings true - if they downplay the risks but the investment is high return, it could be an investment scam.

They ask you to keep the investment quiet.  The scammer might tell you the investment opportunity is just for you and ask you not to tell anyone.

They’re not registered on the FCA website.  In the UK, a firm must be authorised and regulated by the FCA to do most financial services activities. See if they’re registered with the FCA.

The FCA also has a warning list so you can check if you’re dealing with a known scam.

You will likely be approached either through a cold call on your landline or mobile or via an email or text. The questionable investment could be advertised on social media or in a pamphlet.

types of investment scam
A totally fictitious investment which doesn’t exist.
The investment exists but the scammer takes the money instead of putting it in the opportunity.
The scammer pretends they’re representing a legitimate and trusted investment group, but they’re lying.
source link:
https://www.which.co.uk/consumer-rights/advice/how-to-spot-an-investment-scam-a7CeY6d5Luf0

On the US run toward adopting Bitcoin EFT in the country and granting access to the largest holders (companies), the securities and exchange commission (SEC) has aporoved the exchange traded fund for Bitcoin for adoption with San Francisco one of the largest holders of Bitcoin ETF and such are regarded as "volt Bitcoin revolution ETF".

It could be recalled that recently, the US SEC has gone against the approval of Bitcoin ETF due to some level of doubt and risk involved in it, anonymous thoughts were raised to this developments to have been a step forward in the move to adopting Bitcoin as a legal tender with all expectations.
Further readings
https://forkast.news/headlines/bitcoin-futures-etf-approved-by-sec/amp/

Suggestions were been made on operating the social media on a decentralized network on block chain which is said to totally avoid any break in transmission as the Mark Zuckerberg's four most influential social media network (Facebook, WhatsApp, Instagram and messenger) is down for the second time this year.

Am yet to get the correlation between the network outage and the spiking of Bitcoin on bullish run from $47k to $49k, secondly could it be possible if Mark Zuckerberg will truly adhere to suggestive motions to run on a decentralized network on block chain.Bitcoin moves past $49K as Facebook, Instagram, and WhatsApp go down

I've really thought about bringing in this topic here talking more about faucets and what its offers, types and so on.

What is faucet:
They are smallest amount of btc offered as a reward to completing a particular task or workdone online using either the mobile application or directly from the website.
It is also sometimes reffered to as begginers demo of first approach on Bitcoin so as to help them know, study and get acquainted with the Cryptocurrency trading and so on before the Bitcoin or any other crypto is fully launched by a begginer, this help in avoiding errors regarding handling of wallets and avoiding scams.

Faucet shouldn't be mistaken for a Token, they are two different things and underlisted here are the different faucets we have to mention few.

Moon bitcoin
Contiply
Bonus bitcoin
BTCclicks
Satoshi quiz
Fire faucet.
Coinpayu
Faicet crypto
Bit sun
Bitcoin Aliens

I strongly advise begginers in Cryptocurrency to start with the very little accumulated earnings from faucets to get used into the system before fully engaged in it, which helps lower the level of risk and fraudulency that might endangers beginners to get discouraged and find it difficult doing crypto.

In a bid to ensure dividuals get the fact established, this action has lead to the interogation given to Gerome Powell  in other to ascertain his support and stands on Cryptocurrency base on anonymous reports, you could recall that being the chairman of the board of governors of the Federal Reserve System but he has made it point blank that he's in support for Cryptocurrency and will not be in position of placing ban on the global digital currency. Federal Reserve Chairman Powell Says No Intention to Ban or Limit Use of Cryptocurrencies

While from the other hand, clarity has been made concerning the interest of Indonesia government towards regulating crpto activities rather than placing ban and has adopted Bitcoin among other cryptos as an asset in the country as they had record a tremendous increase in crypto related activities in the past one and a half year, claim not to trail on China ban place on Cryptocurrency. Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade Soars