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1361
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Other / Meta / Re: List of Inactive Mods (Last seen a long time ago), do we need replacements ?
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on: December 12, 2022, 05:56:26 AM
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Do we need to recruit new mods?
The forum might use community consensus in some areas, but it is inevitably run solely by the admin theymos, and it's he who can determine that; he's the one who sees the data on mod action and which boards are not getting enough moderation. Editing the names of the inactive mods out from those boards would solve half of the problem, which is this topic being raised and discussed often. Anyone drawing attention to the news to recruit new mods then would be doing so based on them noticing delays in confirmation of reports on certain boards. |
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1362
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Other / Meta / Re: Whoops out of smerit. Should there be a way to buy some from theymos?
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on: December 11, 2022, 07:17:56 PM
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I run out of smerits quite a lot these days, or get close to being totally out, as like to keep <10 smerits in my satchel for emergency situations, where I see a really exceptional post. With a pending merit source application, the best I can do is wait and try to earn more merits. Reporting here is an option, but doesn't cross the mind often.
I briefly thought about a thread where reputable members (who ardently give out merits),, can report their accounts to be merited by sources, with the sole purpose of getting more smerits. Some could see it as a way for users to abuse the system and blur the lines that define "reputable", but for me, it doesn't matter if a few users get more merits (they should be above 1000 to qualify), as long as it's circulating around more. |
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1363
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Other / Beginners & Help / Re: Making post for merit
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on: December 11, 2022, 04:54:30 PM
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<snip> I agree with your submission. Merits were implemented to reduce spam by making users conscious of their contribution to the forum and eliminate mindless postings, which many were using to boost up their activities and their rank; now you need merits as well as activity to rank up on the forum. With this in mind, it's safe to say majority of forum members (except the minority outliers who do not care for ranks or titles), are posting with a desire to get merits. It now depends if; • The merit system steers a desire to learn and contribute to the forum constructively with the hopes of getting noticed and merited, or • It's a desperate desire to rank up, without any interest whatsoever to contribute positively to discussions or to learn from them. The former is healthy and the reason for the merit system; the latter is detrimental to discussions and leads to spam posts. |
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1364
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Other / Beginners & Help / Re: Be careful !
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on: December 11, 2022, 10:09:41 AM
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I thought to myself, when did Binance deactivate these? Then I moved on, reactivate all three security 🔐 measures, this morning again the same thing happened, is Binance buggy or what?
Could be internal operating issues or some sort of experiment and could also be peculiar to your account. You'll have to contact their customer support system. I feel relaxed about this because I only have few dollars on the exchange, this is very dangerous for those that have big amount on the exchange, converting my FIAT to crypto is why I am still using Binance exchange.
No one should have ''big amounts" on an exchange, it's a huge security risk. There are also other options to convert fiat to crypto, if you would look into them. Be careful out there and do not think that the FTX / Alameda craze will be the last, anything can still happen
It would definitely not be the last and obvious hacks is not the only risk in using centralized exchanges: there is privacy concern and the risk of the platform selling your personal information. |
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1365
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Other / Archival / Re: Harsh crypto winter for all categories of crypto users
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on: December 11, 2022, 08:17:23 AM
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And this is only documented layoffs, I can imagine there are even more which goes undocumented and some which happen indirectly as a result of the Bitcoin bear markets. For example, project managers here on the forum or other Bitcoin related freelancers, who would technically not be laid off can have a sharp reduction in number of available gigs they get due to the bear market.
It also happens to be a global crisis as several large companies try to stay above water with the current economy and have to cut of some of their workforce.
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1366
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Other / Beginners & Help / Re: New here
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on: December 11, 2022, 07:56:22 AM
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- Normally, it’s best not to mention how much you’ve invested. Being reserved on the quantities is a better practice that otherwise. - For the most, it would be best to keep the acquired crypto under self-custody, as opposed to keeping it on Exchanges. - Your Email is currently visible on your profile. Unless that is a deliberate move, it is best to hide the email on your public profile ( https://bitcointalk.org/index.php?action=profile;u=3522264;sa=account -> hide email from public). - I don't really care about telling how much I have invested as nothing bad can happen right? - I keep it in hot wallets. - Yeah, I changed that thanks! • Privacy is a very important currency when it comes to Bitcoin and revealing your investment amounts, how much Bitcoin you own etc, compromises your privacy to a large extent as onlookers can start to build a personalized scam attempt on you, especially if you provide more information like your email address. • Hot wallets is a bad options for such amount. Move it to cold storage on a non custodian wallet like electrum or Bitcoin core. • Did you only change the email address to a non personal one? Cause, I can still see an email address on your profile. How to change the feature; go to Account Related Settings on your profile and tick - Hide email address from public?. 10% ETH, 5% XRP, 5% DOGE and 80% BTC
80% Bitcoin is not a bad amount, I personally prefer all crypto investments being made in Bitcoin and diversifications should be to other industries, like tourism, stocks etc. But not everyone thinks that way. |
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1367
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Economy / Economics / Re: Have Satoshi dream failed?
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on: December 09, 2022, 12:29:44 PM
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Taxations does not kill the Bitcoin dream, neither does it mean that anonymity failed.
• You can make transactions between non-custodian wallets, which cannot be stopped or reversed,
• You can hold your Bitcoin safely in your wallet and no third party can interact with it,
• It is completely decentralized and consensus based.
The only way the government can indirectly lay their hands on your bitcoins, is if you use a centralized channel to move it.
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1368
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Other / Meta / Re: The long waited Nickname has been given (The Sceptical Chymist)
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on: December 09, 2022, 12:21:53 PM
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Congratulations to The Skeptical Chymist. The request has lasted almost forever and it's great that theymos still considered and implemented the change.
I'm just curious what happened to the other newbie account that registered with "The Sceptical Chymist"? Was he nuked because that's the only way Theymos could achieve something like this. ? .. I knew the idiot was nothing more than a troll.
It was mentioned much earlier in the thread, that theymos had changed the users display name to something totally random. Check the reply and the quoted ones; |
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1369
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Bitcoin / Bitcoin Discussion / Re: What is Bitcoin and Bitcoin Mining?
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on: December 09, 2022, 12:11:02 PM
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The first computer to find the solution to complex math puzzles will get the right for the next block and this happens every 10 minutes. Happens approximately every 10 minutes. The exact time between block confirmations is not fixed, but the Bitcoin protocol keeps it as close as possible to the average by adjusting the difficulty every ~2 weeks or 2,016 blocks. Between this period the time for block confirmations can go above or below 10 minutes. The Bitcoin quantity will be reduced by 50% every time it reaches 210000 blocks or reduced once every four years by design.
The coinbase reward is what's reduced every 210,000 blocks. Since its birth, Bitcoin has had volatile prices due to many factors. Unlike fiat, Bitcoin is not issued by the government or bank therefore monetary policy, inflation rate, or financial measurement don’t influence its price. Bitcoin acts more like a commodity. The price is influenced heavily by supply and demand. It depends on how many coins are in circulation and how many people are willing to buy.
The supply factor is set in stone. But demand is influenced by many factors, including inflation rate and monetary policies which can affect investors ability to purchase. |
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1370
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Other / Beginners & Help / Re: Privacy tips people should know before teaching them bitcoin
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on: December 09, 2022, 08:35:34 AM
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Is it possible to stay clear of any centralized party 100%.
It is very possible to avoid using centralized platforms 100% if you actually intend to. • Use a non custodian wallet service provider like Electrum or bitcoincore, • For trades, use a P2P, decentralized platform to sell or buy bitcoins and transfer them to your non custodian wallet, • For extra privacy, you can use a mixer or coinjoining service (N.B, coins that have been previously mixed are often rejected by centralized exchanges). P.S, double posting (consecutively) is against forum rules. You should instead edit your new reply into your previous one. |
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1371
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Bitcoin / Bitcoin Discussion / Re: "Bitcoin is Islamic" -by Economist Bruce Fenton
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on: December 09, 2022, 07:52:41 AM
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I don't advocate for mixing up Bitcoin with religion, and trying to use the Quran to support bitcoin falls within that radar.
Heavy investments from the middle East and Islamic regions from both the government and individuals would surely push the market upwards and increase adoption, as would investments from any other country and region.
I didn't quite clearly hear or read what would drive such investments from the islamic region from the speaker, seems more like an optimistic approach.
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1372
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Economy / Economics / Re: Central Bank of Nigeria to limit cash withdrawals
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on: December 08, 2022, 05:32:25 AM
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so its basically saying ATM/retailer cashbask allows 3 weeks salary withdraw and personal bank account bank teller allows ~ 4 month salary withdraw
You can't simplify to the figures based on the minimum wage of the country, when a large amount of people are unemployed and majority are self employed. For someone running a business which requires case inflow and output, a seller of clothes for example, they would need much more than their wage or profit to run the business (transport themselves, purchase the clothes, etc). Most of this transactions occur through cash and soon they would be limited to how much of it they can lay their hands on. Am in support of any means adopted to limit the extent to how people make abuse of money,
It is the elite class who have the liberty to hoard cash and you can be rest assured they would not be affected by policies like this in a highly corrupt nation. The main goal is to increase taxations on transactions and also force SMEs to use cashless means, which will give the government an idea of how much cash flow the company registers and how to tax them. Lastly the government should look Into reducing the single cash to 200 naira or atmost 500 naira. Therefore scraping out the 1000 naira note, this will aid the return of lower notes and coins
I totally agree with this. 200 naira should be the highest currency note. It will give the currency more value but i doubt they'll do that. Currencies do not simply gain value by reducing the maximum currency notes. The value of a currency is tied heavily to the economy of the country and the trading power of that currency in international relations. Until both issues are decisively handled, the naira would continue to dwindle. |
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1373
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Other / Beginners & Help / Re: You can Make 785 + Merits as well in 365 Days
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on: December 08, 2022, 05:18:40 AM
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Congratulations on your achievement and consistent efforts on the forum to learn and to also educate other members (off the forum as well) A lot of threads have been deleted, a lot have been archive, a lot as been off topic but I didn't give up upon all the criticism,
The objective of criticism is not to demotivate one, but rather should be to push one to learn from their supposed mistakes and create better content. Admittedly, some members here talk down on lower ranks when correcting and some newbies see harsh, constructive criticism as a slight. But the actually purpose of criticism remains and it should not push anyone to give up. |
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1374
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Economy / Economics / Central Bank of Nigeria to limit cash withdrawals
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on: December 06, 2022, 08:34:56 PM
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The Central Bank of Nigeria (CBN) has pegged maximum over the counter (OTC) cash withdrawal per week for individuals at N100,000 and N500,000 for corporate organisations.
...
The circular read: “Further to the launch of the redesigned Naira notes by the President of the Federal Republic of Nigeria, on Wednesday, November 23, 2022 and in line with the Cashless policy of the CBN, all deposit money banks (DMBs) and other financial institutions (OFls) are hereby directed to note and comply with the following:
"The maximum cash withdrawal over the counter (OTC) by individuals and corporate organizations per week shall henceforth be N100,000 and N500,OOO respectively. Withdrawals above these limits shall attract processing fees of 5% and 10%, respectively.
“Third party cheques above N50,OOO shall not be eligible for payment over the counter, while extant limits of N10,000,000 on clearing cheques still subsist.”
...
The circular further stated that, the maximum cash withdrawal per week via Automated Teller Machine (ATM) shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day.”
Also “only denominations of N200 and below shall be loaded into the ATMs.”
The maximum cash withdrawal via point of sale (POS) terminal shall be N20,000 daily, the circular further stated.
The circular further stated that in “compelling circumstances, not exceeding once a month, where cash withdrawals above the prescribed limits is required for legitimate purposes, such cash withdrawals shall not exceed and for individuals and corporate organisations, respectively, and shall be subject to the referenced processing fees in (I) above, in addition to enhanced due diligence and further information requirements.” The central bank of Nigeria is changing up the entire system to try to boost the economy and the dwindling naira. I personally do not fancy the idea of limiting how much cash withdrawals one can make within certain periods of time and putting a low cap on that. This would adversely affect SMEs around the country and while it would push more people to exchange digitally through cashless means, it would have lots of negative sides How the policy would impact the economy and more importantly the citizens would be seen next month. |
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1375
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Bitcoin / Bitcoin Discussion / Re: Two Bitcoin Stories from the AfroBitcoin Conference in Ghana 2022
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on: December 06, 2022, 08:22:57 PM
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In Afghanistan, a woman usually needs a man's help to open a bank account—perhaps her father or brother but bitcoin has bypassed that. This is why Bitcoin was created, to give individuals an alternative. Allowing the government to hold all the powers creates room for oppressive policies which the citizens would have to live with if Bitcoin did not exist. These type of stories shows Bitcoin in practice and how it is much more than a fancy digital money which can double or triple in price during the bull run. |
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1376
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Other / Meta / Re: Deleting Topic/Thread Without Notice To The OP
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on: December 06, 2022, 07:28:26 PM
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Is it ideal that a topic with up to 3(three) pages of comments would be deleted without notifying or any form notice to the OP.
This is not a question of what's ideal or not. When a post is moved to trash by mods, there's no notification message sent to the author of the said thread. And messages moved to trash can be reinstated by the admin to the board it was posted. Mods act at their discretion and you would not always agree with their decision. |
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1377
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Economy / Reputation / Re: I have been subjected to harassment
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on: December 06, 2022, 07:23:49 PM
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Maybe just my name, i was careless i didn't notice that my email send my name in every mail, i already fix it. but that is some other point to me, If I am supposedly a scammer or a thief, why do I publish my name in my emails, why i should use my personal email insteat of some other fake email?
In any case i'm cleaning any PI from me and reviewing all my networks all this becasue i don't want this kind of harassment in the future.
It's a good thing you're taking your privacy more serious now. The internet is like a cesspool and you'll find all kind of characters here; the bad, the very bad and the ugly, it's best to have your personal information off it so it doesn't get into any hands at all. As others have said, I'll probably not think too much of a random stranger on the internet. Anyone can threaten you, that's easy to do. |
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1378
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Other / Beginners & Help / Re: My Questions about Bitcoin investment and Mining.
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on: December 06, 2022, 06:51:46 PM
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A lot of people are making comments about the bear market, which was brought on by the crashes of some coins like FTX and Luna. The bear market is a normal event in the cyclical sequence of the Bitcoin market. It was not brought about by crashes in this currency or that exchange, but has started even before those events. I'm curious as to what sets Bitcoin apart from these other coins. Considering that it's been said that Bitcoin won't be impacted and will continue to grow, what are the key difference between the two Bitcoin and other coins?
Bitcoin is; • Completely Decentralized, (shitcoins are fully centralized or partially so) • Immutable, (most altcoins changes change their supply or protocol often) • Consensus based, (most altcoins are controlled by a single individual who makes all decisions) • Transparent, These sets it apart from other coins and tokens The second is about Bitcoin mining; what is the difference between investing in bitcoin and mining bitcoin, or are they interchangeable? If you do not wish to purchase, will you mine your own Bitcoin?
Mining is the process of confirming Bitcoin blocks (transactions) by solving some cryptographic puzzle. The better equipments you have, the higher your chances of being the first to solve it. Blocks are confirmed averagely every 10 minutes and miners who get to solve it first would win a coinbase reward of 6.25 BTC currently. This reward changes every four years or 210,000 blocks. Factors affecting mining include; mining difficulty, mining equipment, electricity, available space etc. And it has the pros that the bitcoins paid to the miners hcve never been spent before. This is how new bitcoins are added to circulation. This is different from investing when you simply buy Bitcoins from the exchange market and have that sent from the seller to your wallet address. |
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1379
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Other / Beginners & Help / Re: How Can Make Money In Crypto?
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on: December 06, 2022, 12:48:20 PM
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Hodling of coins is not profitable when it is not bull time If you actually want to benefit during the bull market, you should invest during the bear market. That's when you can buy coins at a premium. With this, you can technical say that one can profit outside the bull market cause that's when you build your portfolio. |
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1380
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Economy / Gambling discussion / Re: FIFA 2022 world cup
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on: December 05, 2022, 07:39:17 PM
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Brazil makes it FOUR..
Another beautiful play finished off this time by Lucas Paqueta and set up by the scorer of the first Gail Vinicious Junior.
They look like they would find the back of the net anytime they attack and would be a long 50+ remaining minutes for the Koreans.
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