I don’t know if there is a thread for this already, I can’t seem to find it

So as the forum continues to have issues all day I notice that the sluggishness and the lack of patience by some members have actually made one to post a particular reply twice. While I also experienced this I tried to delete the second reply which immediately it got deleted. I know of edit button not showing edited if it is done within five minutes from the post but does the delete button also works that’s way?

If it does is it only on specific board?

Also does it also delete double threads too?

Lastly is it just the forum issue affecting it, just like the telegram notifier bot that is not working currently?

[Binance Nigeria Limited]

Binance CEO Changpeng Zhao has announced that the global exchange has no affiliate with the company Binance Nigeria Limited parodying its self as a subsidiary of the Exchange. CZ made this statement on his official twitter handle the entity has a scam entity that should be desist from.



If we could recall just last week the Nigerian Security Exchange Commission had warn of the illegal running of the entity Due to lack of registration and not been regulated. Now The CEO of the global exchange himself has come to tell people to avoid the entity and not believe everything they read online.

According to Nairametrics the entity was registered on 9th of December 2019 on Corporate Affairs Limited (CAC) number “1639782” and MABUSHI DISTRICT as the physical address. A search on the CAC website shows that the company under which it was claimed to have registered on has no record with CAC, and it also doesn’t have any social media handles.


The only recognized binance subsidiary in Africa is the Binance Africa which has a twitter and instagram handle. It is fair to say that this is the only recognized entity of Binance in Africa according to CZ

[how do think the market or Nigerian investors will react to this?]

Nigeria security and Exchange commission has just tagged the operation of Binance Nigeria exchange as illegal in the country. The countries subsidiary of the global Binance commission was deemed illegal because it has been operating and promoting its services in the country without registration and not under regulations. The SEC warns Nigeria investors of investing or trading on cryptocurrencies on unregulated platforms like Binance. This action by the SEC follows suit after the exchange subsidiary in US was also sued for lack of regulation last week.


What the SEC Said

“The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.”

“Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk. “

“As the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset-related financial products and services if the service provider/its platform is not registered or regulated by the Commission”.
“Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.”

“By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.”

“The Commission shall provide updates on further regulatory actions concerning the activities of Binance Nigeria Limited, and other similar platforms and shall work with other regulators in Nigeria to provide further guidance on this matter.”

nairametrics.com


how do think the market or Nigerian investors will react to this?

The government of Nigeria is set to place bitcoin and other crypto currencies on taxation, come next year. This is part of the country's finance bill 2022 set to be approved. The country's finance minister Ahmed Zainab discussed that the taxation will help regulate digital assets and enhance e-commerce growth.

Recall that the country's apex Bank placed a ban on transactions involving crypto currencies in February 2021. The ban lead to various other banks closing or freezing the accounts of people involved in crypto. The move lead to the current government falling out with the investors in the country.

Moreover, the ban didn't stop its citizens from trading in bitcoin . This has most of the time been done through the P2P transactions on exchanges. The continuous obsession on crypto lead the incumbent vice president to the idea that the country will be better off regulating it rather than banning.

April 2022 the country's security Exchange Commission pushed towards the move to its regulation, stating that a licenced virtual assets service provider must be secured any entity that wishes to run a crypto services within the country. The country has since witness the government leaning towards crypto currency. This has been shown by their partnership with Binance exchange in September this year. It has also offered scholarships to some selected citizens to study blockchain.

My doubts over this recent moves are:

1. Does this means the government is considering the adoption of bitcoin and other crypto currencies?

2. How has the other countries placed on crypto taxation faired so far?

3. Will its regulation helps speeds up its adoption by people within the country?


Benjamindad. Com

Channels TV

Recession is simply the reduction in economic activities either goods or services. It can hardly be eradicated totally by a country, but its severity can be minimized. Part of its major effect are unemployment and reduced income, with both leading to citizens of the affected country left in abject poverty.
Some governments have continuously been looking into ways or passing laws to help reduce the recession or even avert it. Some of these policies have either made help reduce it or most at times worsen the situation. Some of these counter measures are:
1. The government instructs the central banks to either print more money or reduces the interest rates just to allow its citizens spend lots on goods and services. This particular measures had backfired in such a way that the countries local currency loses value against foreign currencies since it is in excess circulation.
2. Some government results into either reducing the rates of tax or ridiculously increasing its own spending.

3. Some government sends out bailout money to help institutions from closing down due to its effects.

These policies can have effects on citizens that have there savings in local currencies due to its devaluation. Some local banks even go to the extent of charging depositors of there long time savings rather than paying them for there interest growth.

BITCOIN AS A SAFE LANDING AMIDST RECESSION

Bitcoin which has viewed to contribute positively to the economy of a nation ranging from creating opportunities for countries with low Banking services, to low cost of transactions within and outside the country of trader, its relatively high transparency during transactions, its ability not to devalue against any foreign currency. With some of these advantages, here are some reasons why bitcoin should be priorities amidst recession.
1. Its Diversification: Bitcoin does not have any difference of value when compared to foreign currencies like Euro, pounds and dollars. Its value is same all around the world. These could help the investors/traders not to lose their funds when their respective countries encounter recession and there government implements measures that devalue their local currencies

2. Resistance to Inflation: with the continuous printing of money by government which has lead to the devaluation of the fiat currencies, bitcoins total circulation is fixed at 21 million BTC. Inflation hardly affects money at a fixed supply its valuation only increases proportionally to rise in demand.

3. Bitcoin's Value: although there are altcoins like Ethereum, bitcoin is best suited to perform better in terms of recession due to it's less volatility, scarcity, safety. In comparison to stock its effectiveness booms and busts the economy due to technical advantages, ability to grow, financial discipline, great community or decentralization.

With recession lurking around some countries, bitcoin could be lifeboat for people looking for safe landing without it been influenced by government policies.
Although there is fluctuation in bitcoin's price, some as a result of government recent policies on its mining, Its value guarantees less risk for savings than any other coins or fiat currency.
1btc remains 1btc



References
wazrix
finextra

Japan has been in the news lately for its continuous lessen of rules concerning cryptocurrency.
They have now agreed to allow exchanges list coins without screen, is this Japan's route to officially legalising cryptocurrency
and has they lessen these rules will these not lead to scams


source

[So How do you know A Wallet is scam free.]

The Arrival of Cryptocurrency to better our transaction and banking services has indeed lead to many scams. Notable the issue of getting scam wallets.
I have seen many posts about wallets scams from fellow newbies and forum other members.

People fall easily for scam wallets because of reviews and and ratings on Google play. Reviews on Google play does not guarantee a genuine wallets free from phishing or scam.

So How do you know A Wallet is scam free.

There are many things to look into for scam free wallets but as a newbie, I have narrowed it down to one.

1. This Forum: once you are prepared to get a new wallets either offline wallets or online wallets, just come to the forum and search about it if you don't find any thing from the search you can ask about the wallet. The forum will provide you with information about the wallet and possibly the correct site to get it from



Do not fall for scams, the forum is here to help reduce it

It seems the major concern about Proof of stake that experts here warned about has begin to see the light.
According to cointelegraph, 40% of ethereum nodes are controlled by two addresses which are Lido and Coinbase.
This has just proven more that POS is not decentralized and favours investors with higher token supply
source

Timestamp is a data in block which shows the exact time the transaction takes place. The reference timestamp is the coordinated universal time (UTC) or the London time.

I did some reading and would like the forum to help me with the questions below. Perdon me if they have been answered before.

1. In the arrangement of transactions in a block does the height takes proceeding or it can be arranged according to its timestamp?

2. Is there a possibility to timestamp a transactionto been spent later?

3. Since it takes time for transaction to be confirmed does this transaction take the timestamp of when It was confirmed or the initial time it was first issued?

Memory pool is said to be the temporary storage where transaction is stored before been transfer to the candidate block.

The candidate block of a node is where transaction from memory pool are kept before there been mined into the blockchain

Reading through transactions in a memory pool and candidates block I got little confuse with this questions

1. Can a transaction ID in a block be the Same  before been spent, Or if the outputs of that transaction becomes fully can its ID be reused for a new transaction.

2. Does a memory pool gets full? Then what happens to the unconfirmed transaction, where do they go to?

3. In the candidate's block what happens to the transactions that where not successfully mined do they still remained there

Sorry if this questions have been answered before

I'm a newbie here and also in crypto currency. I have been reading on private Key, public key and generation of 12-24 mnemonic phrases. As I believe it's the fundamental in bitcoin.
So when reading I found that the lost of this keys and phrases automatically result in too lost of wallet or not been able to back it up and that once someone has these details, it gives such person assess to your wallets.
Now my question is about the recovery of the wallet in case of lost.
1. Can only the private key be use in back up of the wallet if the mnemonic phrases cannot be found or remember or maybe generate a new mnemonic phrase from the private key

2. If accidentally the mnemonic key is missed up like the arrangement of the words are not orderly. Can it be use in any order for back up or is the a way to get its arrangements.

I am sorry if the questions seems silly. Thank you

Hello everyone. I am new to the forum and also a cryptocurency novice. I havc in the past falled in to scams, and that dinted my Interest into cryptocurency. But recently a friend introduced me to this forum and I have been reading some rules here and I also see how the forum provides solutions and answers to questions from every one. The most fascinating thing is how the forum frowns at scams and cheats. I am here to learn from you experts and hope the forum reignite my interest and fate in bitcoin again. I promise to abide by all the rules of the forum and also play part in contributing to the forum.

I hope you all won't get tired of my questions. Thank you all