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1  Other / Beginners & Help / Diversification of Scam Techniques in Cryptocurrency on: May 29, 2023, 08:31:23 AM
Diversification of Scam Techniques in Cryptocurrency

As the scammers have been informed that people are now being more sensitive about NFTs and the related scams associated to many of the meme tokens in cryptocurrency, they have now shifted concentration from NFTs to memecoins where they think people feels more secured than with tokens, their new target now is on memecoins just as they have been doing before and there's a need to raise this awareness for everyone investing in cryptocurrency.

The news came in after some research had been taken by people to find out that about twenty four (24) memecoins have been liquidated and rugpulled within the last 10 days, the warning is for you to open your eyes and know the kind of digital coin you will be investing on, make your research very well and know the risk involved, we don't know which coin, token or centralized exchange is next and in for rugpull, bankruptcy, got attacked or turn scam anytime.

Henceforth you're no more a slave to centralized digital currencies or share the risk of investing on scam tokens or memecoins that may put you into shame later, every beginners can start with bitcoin because it's reliable and decentralized.

2  Other / Off-topic / Mobile Devices with Malware Pre-infection Attack on: May 13, 2023, 10:05:09 AM
Mobile Devices with Malware Pre-infection Attack

It is very important for us to know the brand of mobile phone and devices we are buying and also the supplier through whose means we are getting them from, hackers now infects malicious attacks inbuilt on this devices right after they are being manufactured before they handover to other channels for sales and delivery to final users, this malicious firmware attack is most common with android phones devices as found being distributed across the world.

We no longer trust the firmware suppliers of Cheapo Mobile Devices as they can introduce a programmed set of malicious attack on the devices before they were being distributed to the supplier across the globe, all this begins when there was an internal crisis within the mobile phone firmwares and some have deemed it feet to ensure the raise a counter terror attack on each other through the introduction of this malicious firmware attack on mobile device right after they were being produced.

The malware turns the devices into proxies which are used to steal and sell SMS messages, take over social media and online messaging accounts, and used as monetization opportunities via adverts and click fraud.

Once they got hold of a user through his Android phones device with a particular kind of proxy plugin attack they introduced, they takeover the device IP location and address and extract useful and sensitive informations from the keystrokes, it is very important to note that this kind of attack is more predominant in Asia and some part of Europe and unevenly distributed across the world.
3  Economy / Economics / Interest Rate, Inflation, Debt vs Bitcoin in US on: May 11, 2023, 08:24:48 AM


Bitcoin and US inflation analysis


Is this what we should go for, where the government debts on interest rate is not encouraging and every payment made on this is almost equivalent to the national defense expenditures in US, there's no significant improvement than things getting worse than expected in the economy, isn't giving it an alternative to financial economy with bitcoin going to make some difference, El-Savador has tried doing such and things were getting better than worse ever, but US has been into this for a while revolving round thesame axis without tangible result on inflation and the financial economy advancement.
4  Bitcoin / Bitcoin Discussion / Bitcoin Ordinals Inscription an Avenue for Bitcoin Lightning more Adoption on: May 09, 2023, 08:51:21 AM
Bitcoin Lightning Network is getting more attractive attention amidst the recent ongoing challenges with making transactions as a result of the introduced ordinals inscriptions into the bitcoin block space, many people, industries, organizations and institutions have been adopting the use of the lightning network as an alternative to this congestion on mempool, which is one of the reasons why the layer 2 protocols was implemented abd developed in situations like this.

We can see some of this adoptions into the use of lightning network from the few examples I will be sitting from here:

1. Payment made using bitcoin lightning network amidst mempool congestion and higher transaction fee in an hotel resort

2. Bitcoin exchange bisq starts the integration of bitcoin lightning network into it service henceforth.
3. An exchange named Binance is also planning on integrating Lightning Network to their system considering her recent controversies and withdrawal challenges as a result of the bitcoin network congestion due to ordinals.

Is this recently challenge an avenue calling for more adoption to the use of bitcoin lightning network as being acceptable by many or not?
5  Bitcoin / Bitcoin Discussion / Bitcoin Fees, Nodes, Ordinals Inscription and way Forward on: May 08, 2023, 09:12:24 AM
Bitcoin Fees, Nodes, Ordinals Inscription and way Forward

Ordinals Inscriptions are the newly introduced images or texts embedded with a bitcoin transaction on the bitcoin network on blockchain, they are otherwise known as NFTs in form of arts, this makes the bitcoin network get more busy with activities thereby causing the transaction fee on bitcoin to rise, ordinals was introduced to the bitcoin network in march 2023 and the rise in transaction fee occurs as a result of the token called BRC20 which is the major reason why we experience an increase in transaction fees because it's a new inscription included to the bitcoin network with higher fees and the more the demand for this token is the more blockspace needed for bitcoin transaction to the blockchain which aims at increasing the transaction fee.

We can assume that miners are one of the beneficiaries of this experience because they receives higher fee in other for them to maintain a transaction space for every individuals before their transactions is being run and get confirmed, block size is equivalent to about 4mb and any attached inscriptions may needed to be splitted if more than the block capacity it could contain, but the good aspect of it is that this experience may not last longer before a solution is being made

Rise on bitcoin total transaction fees.

rise of bitcoin transaction fees since after the introduction of ordinals.

Graph 3

Graph explanation on conditions why the ordinals inscription has an important role on transaction fees.

Increase in Demand on bitcoin ordinance inscribed transaction increases the bitcoin transaction fee, while decrease in supply on bitcoin ordinance if the blocks are not saturated with inscribed ordinals simultaneously decrease the transaction fee.


Areas of Applications of Bitcoin Ordinals

1. Fashion Industry
2. Metaverse technology
3. Supply Chain
4. Arts
5. Medicine
6. Agriculture
7. Data science
8. Music
9. Industry brands
10. Government

It is important to note that bitcoin Ordinals currently are in art formats (images) and there could be further progression into the other aspects of the economy as listed above with time, we must also take cognisance that bitcoin ordinals are not directly a smart contract NFTs, but they exist under the blockchain network, Ordinals increases the application use of bitcoin but has caused the incidence of increased bitcoin transaction fee, though they are well secured with the bitcoin network on the blockchain.

Disadvantages of Bitcoin Inscribed Ordinals or Risk Associated.

1. It may serve as an avenue to infiltrate malicious attack to the bitcoin nodes
2. It causes congestion to the bitcoin network and activities
3. It increases bitcoin transaction fees on the network

Solutions to tackle this challenge on Bitcoin Ordinals

The bitcoin network can act in such a way that miners will set a particular range (limit) as transaction fee for each block before getting confirmed and those that contains Ordinals or that do not comply to this protocol be removed into mempool and left unconfirmed.

1. Learn more about Ordinals Inscriptions [beginners guide]
2. How to create an Ordinal Inscription
3. How Inscription could alter bitcoin nodes, fees and transactions
4. Impact of Ordinals on mempool and transaction size
5. A comprehensive guide on ordinals NFT on bitcoin
6  Local / Nigeria (Naija) / #14, 000,000,000 for Aso Rock Painting and Furnitures on: May 06, 2023, 09:04:33 AM
The Nigerian government have set aside the whooping sum of #14 billion in naira for the rehabilitation of the Aso Rock Presidential Villa in Abuja prior the inauguration of the new president Bola Ahmed Tinubu, while considering the huge amount of money for just refurnishing of the Aso Rock and we have many Nigerians suffering in hunger and poverty, youth having no employment opportunity and yet the government is claiming being in debt from foreign nations in strive to build a better Nigeria.

Is this a good take for the citizens to accept while many lives were in penury due to unaffordability of
daily and basic primary needs of food, cloth and shelter and the government is using 14 billion naira to refurnish the presidential house.

What's your take Nigerians?
7  Economy / Economics / Does change in Power bring a new change to the World Economy on: May 05, 2023, 10:06:58 AM
Ajay Banga to emerge as the new president world bank, this comes after the candidate had been screened fit as the best participant for the position after undergoing thorough scrutiny from the US in other to appear as their most preferred candidate, Ajay Banga is coming into office as a result of the stepping down of David Malpass criticized for inadequate delivery over the climatic challenges.

Banga previously ran the payments company Mastercard for more than a decade between 2010 and 2021. He has also served on the boards of the American Red Cross, Kraft Foods and Dow Inc.

Ajay Banga will assume office by June and part of his awaiting responsibilities is to focus on the developing countries challenges and fight against the climate issues becoming a threat on global effect, not only that, he's working on how to engage the private sector into partnership while working together towards full delivery on the issue with global economy.

Does change in Power bring a new change to the World Economy?
8  Economy / Scam Accusations / New Scam Alert With the Use of ChatGPT on: May 05, 2023, 08:12:37 AM
New Scam Alert With the Use of ChatGPT

As everyone in this recent advanced digital technology is working towards the use of ChatGPT as the latest and trending development that is ongoing with the use of Artificial Intelligence in this present dispensation, it has been discovered that scammers now take advantage in this to launch a malicious physhing attacks through various social media platforms and are also targeting extension to cryptocurrency.

Indeed, hackers are using the skyrocketing interest in artificial intelligence chatbots such as ChatGPT to convince people to click on phishing emails, to register malicious domains that contain ChatGPT information and develop bogus apps that resemble the generative AI software

From the above detailed information, social media platforms has recorded several attempts with the use of this same technology to deceive people and attack their privacy portfolios irrespective of the platform they launch through and infiltrate malicious attacks on users through various means by physhing on their mails, passwords, website links, downloads and many more by taking hostages and this same attack is advancing towards cryptocurrency as serious caution needs to be made.

there are full-on malware-laden apps and web pages that target Windows and Android devices, and are designed to deceive users into installing malware on their devices or provide personal information by pretending to be legitimate ChatGPT-powered apps

With all this examples and warnings, it is very important that every crypto users take a very cognitive measures, caution and security consciousness while trying to download or make use of any related ChatGPT apps or websites in other not to fall a victim of this ongoing scam associated to the use of ChatGPT malicious physhing attack now trending, this could be the latest and fastest means of loosing our crypto asset it care is not taken.

Additional Tips:

There's no app or websites for ChatGPT yet where you can download or get the verified app through an official website, some may demand money from you to make payment before they can offer you such, recommend you a link or require you to provide some information about yourself, know this that ChatGPT is meant to be freely provided from a genuine source, anyone claiming they already have this are likely to be scam because it has not been fully operational yet. read more here:
9  Bitcoin / Bitcoin Discussion / Where is your stand as a Bitcoin holder. on: April 29, 2023, 10:42:23 AM
Can we make it little more fun with this, i will like to hear from us the place we are standing at in holding bitcoin in comparing to those having much investment in bitcoin otherwise called whales and other institutions or individuals having little portion of their bitcoin they are holding, because at the end of it all, everyone is a holder as long as you've invested.

Here's the percentage of bitcoin holders and what you need to hold to be in each category belonging to bitcoin holders.

In my own case, i still finds myself below the last category which means am holding lesser than 0.135btc as at now, can we make it interactive by giving our own standing point as at now.
10  Alternate cryptocurrencies / Altcoin Discussion / Defi and it's Source of Money Flow[ on: July 08, 2022, 12:07:49 PM
Defi and it's Source of Money Flow

Decentralized Finance is said to be custodial clients technology that exists in cryptocurrency which make use of smart contract on the distributed ledger of blockchain technology to perform their services without going through exchange or  brokerage as third party. I've come across alot of articles that talks about DeFi ways of scam and how many it has a widespread of it wrong advantage in cryptocurrency but in this article, i will like to discuss with us some of the ways in which they experience a flow of money (coins) within their system and how to identify the abused type.

It is also believed that some of the failed project in altcurrencies uses DeFi as backbone of their scam project launch, that's why you can see lots of thousands altcoins (shitcoins) out there not withstanding the tenacity to last long, they cart away all investment made by users all of a sudden and left them without a choice, is Defi really meant to harm, hurt and scam people? No but users will got more interesting enlightenment as follows:

How Defi Source for Income

1. Trading
2. Charges on Transaction
3. Borrowers Interest

What to take Note


This is where investors needed to observe and take heed before going for a project, their level of research must be convincing enough and ascertain this:


For users, it is always important to look at the bigger picture. If something offbeat is noted, then it is essential to exercise caution. If the revenue relies entirely on new token buyers, that is a red flag. Alongside, for instance, if the protocol doesn’t work without a rewards token, even that is not a healthy sign.
11  Bitcoin / Bitcoin Discussion / Binance gives more reasons to remain decentralized with bitcoin on: June 13, 2022, 03:45:05 PM
Binance gives more reasons to remain decentralized and by now i believe this would have been an eye opener to those using centralized exchanges.

Binance halt Bitcoin withdrawals, should this be a thing of concern?

As this was officially announced by the Binance CEO, many are taken into consideration the better advantage altcoins could have over bitcoin but i can boldly say that this is one of the unavoidable lapses of using a centralized exchange like Binance, they are in custody of the coins and have right to do whatever they wish to implement over your financial assets with them, I'd rather prefer users having a second thought to stop the use of centralized exchanges and go strictly decentralized.

Binance, the world’s largest exchange, is pausing its Bitcoin (BTC) withdrawals today, June 13, due to a backlog caused by a stuck transaction.

12  Other / Beginners & Help / Becoming a Blockchain Developer on: March 18, 2022, 07:42:50 AM
Becoming a Blockchain Developer

Knowing fully what blockchain is and understanding the principal procedures to how the public distributed digital ledger works across a network of computers, this informations are immutable meaning it cannot be altered, and it is of four types: public, private, sidechain and consortium blockchain while maintenance of the activities on blockchain is saddled with the responsibility of the developer for implementation.


Developing a Blockchain

To become a Blockchain Developer, certain technical skills are required to equip in areas of:
✓Web development
✓Data structure
✓Smart contract
✓Programing Language
✓Blockchain Architecture:

Cryptography: This involves understanding the entire hash functions such as in SHA255.
Web development: This requires experience in front and back end developer with handling of DApps.
Data Structure: This deal with understanding the framework of how blocks are arranged as in graphs, hash trees markle tree.
Smart Contract: Understanding specific programing languages like chaincode and viper as they serve as an intermediaries to communicate processes.
Programing Language: This involve having knowledge of C++, Python and Java script is also essential as a web developer.
Blockchain Architecture: This requires knowing how the blockchain operates using smart contract, DApps, consensus protocols, distributed ledger, the hash functions etc. this involved studying and understanding the blockchain environment, protocols and procedures in operations.

Types of Blockchain Developers

*Blockchain Software Developers
*Core Blockchain Developers

1. Blockchain Software Developers: This are set of experienced blockchain developers in which their main function is in creation of decentralized applications (DApp), smart contract, build and control the blockchain apps and softwares used in the framework.


2. Core Blockchain Developers: This are unique set of developers that maintain the architectural framework of the block chain, monitor the blockchain adherence protocols and concensus. in other words the blockchain software developers work on the already set concensus protocols set by a core developer to form their own DApps and smart contract.


 Career Prospect of a Blockchain Developer

There are standard reputable international companies and organizations such as: IBM, Peernova, BTL, Accenture, Capgemini, JP Morgan Chase, Applied Blockchain and Microsoft just to metion few that has been on the look for experienced blockchain developers on high reputation, there are still many industries and software organizations in bid for a developer once the skills were acquired and therefore, there's a great employability opportunity for blockchain developers across the globe.

Resourceful links:
13  Bitcoin / Bitcoin Discussion / Wasabi Wallet to Begin Censoring Coinjoin Transactions on: March 15, 2022, 01:27:02 PM
Wasabi Wallet to Begin Censoring Coinjoin Transactions

When it comes to bitcoin privacy and security consciousness in choosing a desirable wallet to use, wasabi wallet is one of the best option because it's a non custodial open source bitcoin wallet suitable for coinjoin while as of recent the service of censorship is now introduced in using wasabi wallet as it targeted on denying access of the unspent transaction outputs while using coinjoin.

The announcement, made in a statement on social media, explained the way in which these transactions will be censored. Some unspent transaction outputs (UTXOs) coming from certain addresses won’t be able to register to participate in the Coinjoin process that helps users mix and anonymize their bitcoin

Many have reacted on this development in expressing a displeasure to how certain restriction is going to be place in mixing their transactions with coinjoin, wasabi officials made known that the censorship come as a result of a means to reducing the possibilities of hackers using coinjoin in perpetration of illicit acts.
14  Bitcoin / Bitcoin Technical Support / Mempool and the Lightening Network on: March 12, 2022, 08:18:15 AM
As lightening network is mainly design to provide solution to scalability and a fast and secured transaction while mempool is used in storing any unconfirmed transaction information.

Does the lightening network by any means require the use of mempool in transaction verification or it does byepass mempool?

In other words, could unverified transaction occur with the use of lightening network that may require the service of mempool?
15  Bitcoin / Bitcoin Discussion / A Bitcoin wallet suddenly activates after 11 years on: March 11, 2022, 01:57:30 PM
Yet another anonymous bitcoin transaction of about 489 btc that is worth $20,000,000 million was said to occur from a domant bitcoin wallet address as reported by a tracking bot called "whale alert" with details traced to October 2010 of it last active date, this  was related to the last active date of bitcoin founder Satoshi Nakamoto on the forum in December, 2010 and such has spark many reactions and controversial views that it may be Satoshi bitcoin wallet, you could recall that the founder was last active on the forum same year the bitcoin wallet address was last active which makes it ignites lot of reactions that such could only be from Satoshi.

The last time the inoperative address was functioning,  Bitcoin was trading at a price of about $0.17. The top crypto asset by market cap has appreciated a staggering 23,150,500% during the time the address’s period of inactivity.

To be sincerely with the way it looks from the above quote, one could easily believe its Satoshi haven being in possession of such huge amount as at then and from the look of the price at $0.17 btc worth placed on (hodl) over a very long time, and the wallet it was transferred into remains anonymous. who could have been smarter in doing this other than the founder himself as of then when information and technology of bitcoin ecosystem is premitive to bitcoiners.

Other views:

The most likely theory is that someone accidentally found their long-lost private keys and gained access to a massive fortune. Some are also speculating that the owner got out of jail and finally managed to cash out the cryptocurrency.

I learnt one thing, that from every rumour, there's an element of truth.
Could this truly be Satoshi's wallet?
16  Economy / Economics / Dubai unveil new crypto law on: March 10, 2022, 10:54:19 AM
Its a step forward in UAE today as they make a decision to join the world cryptocurrency lane and provide a means to see to it regulation, this was a development confirmed from Sheikh Mohammed bin Rashid Al Maktoum, the vice-president and prime minister of the United Arab Emirates and was confirmed through his official Twitter handle.

In addition, Dubai will also see the establishment of a cryptocurrency regulator, named Virtual Asset Regulatory Authority (VARA), designed to issue licenses and oversee the compliance system of crypto service providers operating in the United Arab Emirates (UAE). The new regulatory authority is established as an affiliated organization of the Dubai World Trade Center.

It could also be recalled that Dubai perform it annual "Dubai Expo" business summit under the authority of Dubai world trade center which bring entrepreneurs together from all over the world for business exhibition, talent acquisition, seminars and workshops, also it has put in place "VARA" its regulatory body to see to the affairs of the Dubai crypto free zone.

CZ who is the founder of Binance also signed a memorandum of understanding (MoU) sometimes last year in building a suitable cryptocurrency environment in Dubai.
17  Economy / Economics / Anonymous hacker's group fight against Russia on: March 10, 2022, 07:56:42 AM
Anonymous hacker's group fight against Russia

Russians are obviously passing through alot at this trying time as a result of it government invassion of Ukraine, this brings about the interference of one of the world's known hacker's group "anonymous" declaring waging war against Russia by hacking into their government official websites, Russian Tv channels releasing the footage of their invasion on Ukraine to the world.
Anonymous has also taken responsibility for several other cyber attacks, including shutting down the Kremlin’s official website, hacking the Ministry of Defence database and taking down 300+ Russian media and bank websites.

Considering the magnitude of the implication caused as a result of Putin engaging war against Ukraine, the Innocent Russians have suffered much in the areas of: sanction and swift ban placed, economy downsize, denied access to international freedom trade, inflation, devaluation of RUBBLE against USD, loss of military personnels, denied access to social media (Facebook and Twitter), ban of about 25,000 coinbase users accounts and pause in other crypto exchanges, shutdown in Kazakhstan bitcoin mining and crypto related activities, Mastercard, Visa and PayPal service shutdown, loss of innocent lives among others with the threat to also release one of it deadliest nuclear weapons.

When i watched this video of  Russian soldier surrenders to Ukrainian public who feed him and tears begin to drop from my eyes that why are we humans the cause of our problems? another report coming in says Russia will begin to loose hold to withstand starting from Sunday.

Must Russia (Putin) remain adamant in proving to the world its ability and last resort?
18  Other / Politics & Society / Pray for Ukraine for peace and restoration! on: February 27, 2022, 10:51:14 AM

One of the means in which we exhibit love is to pray for our beloved brothers and sisters and in so doing we are praying for ourselves also unknowingly, because the comfort of a bird lies in the comfort of the tree it on, i want to encourage us all from across the globe to seize the opportunity this day as a service of prayer sacrifice for the peace of God to reign in our beloved country Ukraine.

For the fact that you're not from Ukraine neither does the conflict affect you by any means is not a yhastic not to pray for them, do you even know that this may be an eruption for the III world war in which we pray it never occur as many countries will suffer casualties and innocent lives will be lost and that your assume region to be safe might be the most affected area at the end.

As a believer, we believe in the power of prayer, and with God all things are possible, this is a call regardless of colour or race, religion or tribe that we should all say a word of prayer for the restoration of peace in Ukraine and that Russia should realize what its missing out and have a second thought while normalcy be restored back to them both.
19  Other / Politics & Society / Stealth Variant of Omicron, Covid 19 Third Wave. on: February 20, 2022, 03:55:13 PM
Stealth Variant of Omicron, Covid 19 Third Wave.

The major difference between Covid 19 and the Omicron variant is that Covid majorly affect the lungs while the Omicron bariant affect the upper part of the human respiratory tract most and several works and research had been carried out as discovered regarding the symptoms of the Omicron Virus, the new Stealth Variant of Omicron's third wave is said to carry same features such as: cough, sneezing, sore throat, fever, difficult breath, cold, headache while fatigue and dizziness where the major two observable mutant of this third wave Stealth Variant of Omicron.

All viruses acquire new mutations over time, and SARS-CoV-2 is no exception. Some of these changes have no impact on the virus’s behaviour, whereas others can alter properties such as how contagious it is, which tissues it infects, or the severity of the illness it causes.

The Stealth Variant otherwise called (BA.2) is known to have about 20 mutations which are genetically different from the parent Omicron and found to be fast contagious as the Omicron while the safe preventive measures is adherence to all covid 19 protocols and to get Vaccinated.
BA.2 was first discovered in Phillipines last year around November with Denmark, India, Sweden and Singapore has the highest number according to global GISAID data base record.

So far, the Omicron variant is thought to have split into three sub-lineages – BA.1, BA.2 and BA.3 – and these will continue to evolve in the future.

My major concern is on the statement " and this will continue to evolve in the future". is the pandemic such an unending epidemic as it keep transcending from one stage (phase) to the other?. though I understand that no particular curative to virus disease but does that means all hope is dash on having an end to covid/omicron?
20  Other / Meta / First forum's post 13 years ago by Satoshi introducing Bitcoin on: February 12, 2022, 01:52:55 PM
On the 11th of February, 2009 makes it exactly 13th year yesterday when the founder of bitcoin Satoshi Nakamoto made his first forum post about p2p foundation website with the term: "BITCOIN OPEN SOURCE IMPLEMENTATION OF P2P CURRENCY" alongside with the White-Paper, Open Source Code to the forum Members.

On the site, Satoshi stated clearly about the solutions bitcoin has come to offer in terms of security and privacy using a decentralized system without the request of a central server as used by the fiat currency and low level of trust secured in the traditional system, he also provide the available links needed for the download of it new softwares needed for the p2p open source currency (bitcoin).

Also with me here is the prove of the above implementation as stated by Satoshi on here on this noble forum on the 22nd November, 2009. He stated that has replaced the initial forum which is no more in use. While @BitcoinFX was the first forum member to reply a comment to his post.

Satoshi's first post on the forum
@Satoshi Profile Link

Upto this days, the Legacy in which Bitcoin founder @Satoshi Nakamoto created in 2009 still remains effective and the impact can't be overemphasized and the world of crypto trails at his footprints.
Bitcoin will always be remembered on earth and impactful till eternity.
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