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1221  Bitcoin / Bitcoin Discussion / Re: Bitcoin Life Insurance on: January 30, 2023, 09:05:07 PM
There is a serious need for "Bitcoin Life Insurance"
There is no need for a centralized system which helps people to save guard their bitcoins.
Owning Bitcoin means being responsible for your passwords and more importantly, your keys and seedphrases, which always gives you access to your funds.

If someone signed up, how could they ensure that the companies products/services are to be trusted?
You can not. They can claim to be audited by an independent body and have transparent files, but centralized systems are beyond your control and can get breached, hacked or even have an internal body compromise the security of your funds.

There are decentralized means to ensure your funds get you your heir.
1222  Other / Beginners & Help / Re: Question about forum threads expiry date on: January 30, 2023, 12:38:52 PM
A mechanism could be devised whereby threads could self-lock by default after x days without any activity (i.e. 90), giving the OP the option to adjust or even remove the default value x.
This could be implemented, but would do little to improve the forum, imo.
The way I see it, threads which have little activity is not a problem and usually they just fizzle down to several pages down and are not seen by majority of the forum. Even when bumped, they most likely sink to the bottom soon after.

The spam problem comes from threads which are still being actively discussed daily with no actual contribution. Replies here are just remakes of the ones before and those commenting do not bother to read previous replies and surely cannot read 4-20 pages of posts.
If an autolock feature is added, it would do nothing to reduce spam mega threads.
1223  Bitcoin / Bitcoin Discussion / Re: I will invest in bitcoin for my child's cost when they grow up. on: January 30, 2023, 12:33:22 PM
Your idea is a good one and is shared by many people who are into Bitcoin. Planning for the future, requires an inflation resistant asset like Bitcoin.

You need to plan for two things;
• Proper security of your Bitcoins,
• A contingency plan where your child or closest next of kin can still access the bitcoins should anything happen to you.

With proper security, a hardware wallet is a safe option, with multiple backups in safe locations.
You also need to learn how to generate your keys securely.

On how to make the bitcoins accessible even if you're not there to release it, you could reveal the location of one of the backups to a trusted person, or utilize the locked transaction or locked address option, which makes the UTXO available to an address at a specified time in the future, this way, it cannot be accessed by anyone else now, but would be available to the person you any at a time in the future. You need to do your research and be sure you know what you're doing here
1224  Other / Meta / Re: How about having a follow option beside the ignore option?Or are there any tools on: January 30, 2023, 12:03:01 PM
This would be a great idea if implemented on the forum or a third party server. There are lots of knowledgeable members and many boards, this makes it difficult to keep up with everything that's posted over time. Having a system that notifies you when a user posts would be great. Extra points if you can choose the boards on which you would want to read their posts, for example, I might want to follow a user, but not want to be notified of their posts in Meta board.

This should be on forum, not using a third party tool,
It can be either. Third party tools have been useful in many areas of the forum.
1225  Other / Beginners & Help / Re: Question about forum threads expirey date on: January 30, 2023, 07:54:22 AM
When is the right time or date to stop replying to a thread?
• When you have nothing else to add to the existing discussion,
• And when the thread has been inactive for so long that it makes no sense to bump it up at that time as it offers no current benefit to users.

Why are some members not locking or closing their threads after they get answers off them? Only very few practice this on this forum.
They are either unaware of the lock option or the users just don't care enough to do it.
You can always report a thread you feel has run its course to the mods and they could consider locking it.
1226  Bitcoin / Bitcoin Discussion / Re: So far so good with Bitcoin adoption on my side but I have question on: January 30, 2023, 07:47:57 AM
Here is where I am confused, the present value of Bitcoin is growing, some said it's because of the Chinese New year Holiday aka Year of the Rabbit, since I got mine at 17,000 and 15,000 I feel it's wrong to tell these newbies to buy at 23,000$
I have heard people say the Chinese New year cause corrections due to large amount of withdrawals made by investors to celebrate the occasion. Goes to show you that attempts to predict the market or give reasons for price actions are usually without any facts.

There's nothing wrong in then buying higher than you did, your purchase is around the cheapest range in a long time and the chance of them getting in at that price is not guaranteed.

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea? Because right now I don't see anything thing better than to wait, double bottom is always possible with Bitcoin in bear markets.
What happens if it keeps rising and they feel they would have profited if they had bought at the current price range before any doubling down?
Also, if they DCA over several months, it would not matter the different price ranges they bought in at.
1227  Alternate cryptocurrencies / Altcoin Discussion / Re: beginner in Crypto on: January 29, 2023, 06:57:15 PM
As a beginner in crypto, I would not recommend you purchasing anything, much less a random jpeg turned into an NFT.

In the steps of getting into crypto, making a purchase is one of the last steps you take, your first steps should be;
• Understanding how crypto works and the basics of the technology,
• Identifying coins with actual utility like Bitcoin,
• Understanding the basics of how Bitcoin works and gets its valuation,
• Learning how to purchase and secure your asset,
• Making a test purchase to ensure you have a hang of everything,
• Then choosing a purchase plan, preferably DCA.
1228  Other / Beginners & Help / Re: A fortunate story of a crypto mentor on: January 28, 2023, 10:49:31 AM
I am not ready to invest what I can afford to lose because I will invest nothing because I do not want to lose anything.
Wanting to lose and what you can afford to lose are a bit different.
No one wants to lose even a Kobo, penny or cent, but if they did lose that amount while taking a stroll, they wouldn't freak out or call the local authorities to help them out. If that same person lost a $100k or $1 million however, they would have a panic attack and do everything possible to try and find it.

That's the concept of what you can afford to lose; amounts that would not greatly impact your standard of living or overall purchasing power.
1229  Other / Beginners & Help / Re: invest in bitcoin or altcoin? on: January 28, 2023, 10:42:40 AM
I share your friends opinion; Bitcoin is a much better investment than the most decent bunch of altcoins (which is barely a handful).
Over 95% of coins out there are shitty rehashes of the exact same idea, with no real world value or utility. Not worth a penny.
Do not take I or your friend's word for it, do your own research on Bitcoin; utilities and qualities that sets it apart from the other coins.
1230  Other / Beginners & Help / Re: Bitcoin is imagined as a Crush Queen on: January 26, 2023, 08:37:40 PM
It is a decentralized form of payment that is not controlled by any government or bank.
...

If Crypto is legal by the government and the government gives importance to Crypto's growth in every nation. So we can see, it's obviously leading the future online world.
Both of the statements above are contradictory.
Bitcoin does not need the legality or recognition of governments inorder for it it be given importance or for it to gain more adoption. As a decentralized currency it functions without control or regulations and governments always opt for the order and control, reason they are leaning towards CBDCs.

It is not safe to keep all eggs in the same cage
Holding Bitcoin and a couple other shitcoins does not count as diversification.

You're better off holding assets from a different industry or niche, than holding a bunch of hugely correlated assets.
1231  Other / Meta / Re: How can I prevent my account from being hacked as newbie on: January 25, 2023, 03:28:06 PM
First steps to securing your forum account;

• Use a strong "one time" password, with a combination of alphabets, numbers and special characters.
It's one time cause you do not reuse it on other sites.

• Create a separate email addres to access the forum and do not reveal it anywhere on the internet.

• Bookmark the forum link and always log in through that to avoid falling for phishing links.

• Post a bitcoin address and sign a message using it.

• Stake that signed address and ensure someone verifies the message and quotes it. (Thread is already linked in this thread).

• Do not log into your account over unverified networks.
1232  Other / Beginners & Help / Re: What could make you start using a new crypto wallet today? on: January 24, 2023, 08:23:50 PM
Will you start trusting a new crypto wallet after it's been out for years or based on users reviews? Or it depends on what the wallet is offering,
It depends on if I have a need for it.
If I am currently using a good wallet software which provides all that I need and is fully functional, I see no reason to switch to another except it solves a major flaw in the other.
I can try it out and give my recommendations but wound not randomly move my assets around different wallets.

There are people who use Guarda wallet, Atomic wallet or Exodus wallet the same year of release before they become popular, what could possibly prompt you to start using a new crypto wallet today?
They could be new entries into the space and are yet to pick a preferred wallet to use, so a new one doesn't seem like such a bad idea.
It may also suit their preference far more than the available options.
1233  Bitcoin / Bitcoin Discussion / Re: THE ROLE OF BITCOIN IN EFFORTS TO HELP FLOOD AFFECTED COMMUNITIES on: January 24, 2023, 08:17:36 PM
This doesn't translate to Bitcoin helping flood victims, it's more like a philanthropist trading their Bitcoin to provide aid to those in need. A more direct example of Bitcoin playing a role would be if it was used in areas were bank accounts were being frozen and Bitcoin was the only means of circumventing government regulations.

Great job nonetheless. Acts of kindness such as this goes a long way to those who are in need and shows the good side of humanity.
1234  Other / Beginners & Help / Re: Exit liquidity on: January 24, 2023, 08:06:57 PM
The lesson I learned is all those influencers are pumping their own bags so that people like myself can become an exit liquidity. Always do your own research and don't trust any influencers.
Do not trust anyone but yourself and only occasionally trust yourself to trust the judgement of another, when you've done your proper research.
The decision to invest and consequences of that decision is solely yours to make.

Even here on the forum, we've had some reputable accounts (at the time) advertise known scams and some even engage directly in scams, so expect little from the internet.

their just try to convince their people so they can buy and that is the advertisement strategy.
Convincing people to invest in something you know to be a sham, using your influence is not a job and is a low way to earn a living. It's as much as directly running the scam yourself.
1235  Other / Meta / Re: Olien_17 - spammer and likely account farmer on: January 24, 2023, 07:44:15 PM
I wasn't sure whether reporting would just have the posts removed or if it would also deal with the user and the other accounts. I just reported all of the posts.
Related accounts is not against forum rules, but newbies can get nuked if they are caught spamming the forum, which is what happened in this case as you can see on modlog.

Also in the future, do these matters get handled without a thread entirely if you just use the report button or do the posts just get removed?
If you provide sufficient information in the report then the mods can take appropriate action.
There is also a thread to report plagiarism if you suspect a ban evasion.
1236  Bitcoin / Bitcoin Discussion / Re: Its safe to say Bitcoin has recovered all it's losses since the FTX collapse? on: January 24, 2023, 12:48:34 PM
The demography of bitcoin holders has been changing for some years now and that would definitely reflect in how the market reacts to major drops or pumps, and would also affect how the "4 year cycle" sequence works.

• When you have more weak hands with little understanding of what they are holding, you get quick dumps when the price drops and lots of FOMO when it pumps.
• When you have more holders who understand how it works and has had the liberty to understudy previous cycles and recoveries, you have more people who are confident in the network and are aware that short term price action is not relevant to long term investors.

I believe this would also change how the current cycle works and create a resistance to how low the bear market can go overtime.
1237  Economy / Economics / Re: China Digital yuan vs US dollars on: January 24, 2023, 12:42:39 PM
We don't get to decide which country dominates the financial scene and as for other countries being wary of the intention of China, it's not any different from that of other countries which want more power.
Reaching a moral stand on which is a better option is not an easy decision to make.

Personally I don't see how a CBDC would help accelerate China's bid for more dominance, they would get early bird privileges but other nations would be able to successfully replicate it in their own States and create a more decentralized network.
1238  Other / Meta / Re: Moderator help my bitcointalk account have been hacked on: January 24, 2023, 06:13:46 AM
Let the admin decide which can be used. But that is my only address on the forum.
This is what you see on the recovering hacked and lost accounts thread; "Often, you need to prove ownership of the account with a PGP or Bitcoin signature."

Also, it's not the only address which has been posted by the account in question. The first signed message in the op is from a reply made a couple of years ago, which contains a Bitcoin address. And that Bitcoin address has been used multiple times by the account Piesel.
1239  Other / Meta / Re: Moderator help my bitcointalk account have been hacked on: January 24, 2023, 05:47:55 AM
I did not even sell it. I also do not have time to check the private message on yesterday when I first made my password change via email. I just hope that the account will be backed to the true owner, in this case, is me
You claim the account was hacked, but you say here you made the password change via email and did not make a complaint of being hacked, despite there being a huge gap from the password reset to the last password change.

will this be viable proof for ownership?
I don't think it does. Besides the reason you pointed out, I believe only Bitcoin signed messages are accepted for account recovery and doesn't include addresses from other networks.
1240  Other / Beginners & Help / Re: Don't get scammed because of wallet upgrade on: January 23, 2023, 08:53:05 PM
Scammers usually have two themes that all their attempts take; Greed or Panic.

With greed, they lure victims with the possibility of crazy returns if they only risk a relatively small amount. And if they do get hooked, they keep tempting them with more while asking they pay some amount to get it, till it doesn't work anymore.

Wit panic, which is what was used here, they scare you into making an urgent action or risk losing something. In such State of panic, you can easily enter limbic mode and not think logically, leading one to make a mistake.
Always stay sharp and vigilant. Treat everything as a scam until proven otherwise.
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