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1401  Other / Beginners & Help / Re: Bringing it back to your ears: Not your keys, not your coins on: November 29, 2022, 07:42:19 PM
Noted, I am very much aware of all these crypto wallet / centralized exchanges warning but my goal now is a Decentralized trading platform that works just like a centralised exchange, a crypto trader still have no choice but to use cex for trading and this will make them to send their BTC to CEX.
The major reason why DEX is not favoured by many is cause most have low liquidity when compared with bugger centralized exchanges, and this is a result of most users opting to use such centralized exchanges, boosting the userbase and its liquidity.

Having more people shift to decentralized platforms would make then more profitable to operate and run and also make them more attractive to other traders.
1402  Other / Beginners & Help / Re: Missing Board (s) on: November 29, 2022, 06:10:13 PM
After my registration I forgot my login details, but today I was lucky to to recover the details.
You should consider signing a signature to a Bitcoin address which you've posted on the forum, and stake that address here.
This would help you should you lose access to your account a any time in the future.

When I login, and I saw my home page is different from my uncle's interface. There are some things that I saw in my uncle's own does not appear on my own. My home page starts from Economics but others start from Bitcoin discussion.
As mentioned above, it could be that you have some boards on ignore or have played around with some features which made the other boards not visible.
1403  Bitcoin / Bitcoin Discussion / Re: Teaching Bitcoin To My Friends| You're invited too (Online class) part 2 on: November 28, 2022, 09:44:44 PM
Most of yh active forum users (barring the spammers and bounty hunters), would have a decent understanding of Bitcoin and how it works to not need a regular off forum meeting to improve on their knowledge. And the few who do are welcome to interact here and learn more from the more experienced users; the entire purpose of the forum.

Your idea is surely a good one and would be greatly helpful to your friends who need Al the expert guidance they can get as they get their feet wet in Bitcoin, but you might not get a substantial amount of users here willing to join in.

Good luck anyways.
1404  Economy / Speculation / Re: Bitcoin cycles, this is the cyclical minimum on: November 28, 2022, 09:39:26 PM
It seems to me that to say that bitcoin is now at the bottom is just as likely as bitcoin to hit its bottom around 5k. In
While anything is possible in the Bitcoin market, one can also draw assumptions from previous patterns and use that to try and predict what could happen in the future. While the ATH has been progressively increasing with each market cycle, from below $1k to as high as $20k and most recently almost at $70k, that's the same way the bottoms we've been experiencing has also been progressively increasing as well, from below $1k to $3k an now above $10k. I would be greatly surprised if the bottom goes below the 10 grand mark.

No one knows how the price will behave or what else might happen in the industry. It seems to me that the chain of events such as LUNA crash or FTX scam is not over yet and we may see something worse, like Michael Saylor crash or something like that.
The more these scenarios occur, the more the market adjusts to it and becomes more resistant.
1405  Other / Beginners & Help / Re: Why you should never try to time the market bottom on: November 28, 2022, 05:09:39 PM
If you're not a trader, trying to time the market is pointless and could eventually lead you to buying too late or selling too late.
DCA is one of the best ways to enter into a new investment. For one;

• You buy a different market periods and as such do not have to bother much about how expensive or cheap it is at a point in time,
• Also, you buy consistently and can easily plan your portfolio according to your salary or earnings, so you don't end up buyi g more than you can spare.

you still trust your Youtubers?
People ever trusted YouTubers?
1406  Bitcoin / Bitcoin Discussion / Re: Bitcoin isn't a religion. on: November 28, 2022, 04:05:50 PM
Do you really see Bitcoin as a religion?
No, and no one should.
Religion mostly involves blind Faith in the existence of something which is not physical, Bitcoin does not involve faith or trust, rather you should try to verify everything about the network. Hence the phrase; "Do not trust, verify"

If you use a less extreme word than 'religion', it could be argued that there are many who feel that Bitcoin has no flaws and can never be usurped by newer or 'better' technologies, hence they already have a closed mindset to any innovation.
1407  Bitcoin / Bitcoin Discussion / Re: Bitcoin worth $1.5B withdrawn from Coinbase in 48 hours on: November 28, 2022, 06:35:34 AM
Holding that amount of bitcoins on an exchange is absolutely insane to begin with. It's surprising how many people are not perturbed by the risks and disadvantages of keeping funds in the control of a third party.

As depositors take larger steps to protect their wealth and secure holdings, will it be enough to stem a tide of the high number of electronic hacks we've witnessed in 2022?
Exchanges would continue to operate as there are still lots of users who entrust them with their funds and trade on their platforms, and ifbhey keep running, there would always be hackers trying to get in. How successful they would be would depend on how much security measures exchanges adopt in the wake of the hack waves.


It seems that the latest trend of large withdrawals came about in 2017. Perhaps after the bitfinex and tether investigations were launched. It could take time for consumer confidence to be restored in crypto exchanges.
Hopefully the confidence is never restored.
1408  Economy / Speculation / Re: Bitcoin cycles, this is the cyclical minimum on: November 28, 2022, 06:22:19 AM
While I do agree that Bitcoin is likely at it's bottom or very close to it at this point, and the only way to go from here is up, I do not think fiat is at its last fume or that it's going to zero and then Bitcoin would become the global currency. Fiat has been suffering poor fiscal policies fobnany decades now and losing value for same, but with the current financial system, it is needed for the world to function as it does now.

Bitcoin as a alternative asset would not replace the banking sector, but would be an option for those who want to escape the fiat rat race, where money losses value faster than you can earn it. It would also give freedom to those who do not want to be at the mercy of third parties and governments.
1409  Other / Beginners & Help / Re: What is Bitcoin Mixer used for? on: November 28, 2022, 06:00:42 AM
Bitcoin mixing is a way to obfuscate the trail of a transaction.
The Bitcoin network is built on a public ledger and as such anyone can check transactions which are added to the blockchain. This might not be convenient for some who would not want strangers snooping on their financial transactions and monitoring their balances. This necessitated the use of Bitcoin mixers and coinjoining services to make it difficult for one to monitor a particular Bitcoin address or public key.

Mixers operate by mixing different transactions together and giving users coins which were not involved in their initial transaction.
In a basic format;
Mr. Bob wants to send 2BTC to another of his address but doesn't want it traced. He runs it through a mixer and is giving an address to send 2BTC to and then giving the private keys to a new address which has been credited with 2BTC already.
This way the new UTXO cannot be linked to his address which sent out 2 bitcoins.

Coinjoining works in a slightly different way;
Mr. Bob wants to send 2BTC, consisting of different inputs. His inputs is "joined" with that of Mr. Tom and Ms. Jane, all with their different inputs. Someone looking at the transaction would not be able you make out which of the inputs or the outputs originated from Mr. Bob.
1410  Other / Meta / Re: Should the difference in size between normal and quoted text be smaller? on: November 27, 2022, 08:59:45 PM
I'm okay with the current font sizes, and I like that quotes are a tad smaller.
I also appreciate the difference in font sizes between quoted texts and unquoted. It helps one to skim through the quotes a bit easier, particularly for users who quote walls of texts and those who quote full replies which are just right above theirs.

This is not really any major inconvenience to users,most of which who might not have noticed any size difference.
1411  Bitcoin / Bitcoin Discussion / Re: Bitcoin Journey Began 40 Years Ago; is this the end? on: November 27, 2022, 08:35:41 PM
<snip>
No one could have predicted Bitcoin's emergence when it was first introduced by Satoshi Nakamoto and the impact it would have on the financial system globally; same way no one can predict if Bitcoin is the epitome in terms of inventions aimed at improving privacy and freedom of transactions, but my best guess would be that Bitcoin would be the finished product in that regards.

Bitcoin of course would go through improvements such as SegWit which was aimed at improving scalability and more currently Taproot. These changes or improvements are aimed at making the network function better (it's surely not perfect), but I can't imagine a newer system replacing it at this time.
It checks all the boxes for what one needs from a consensus driven network.
1412  Bitcoin / Bitcoin Discussion / Re: Bitcoin Journey Began 40 Years Ago; is this the end? on: November 27, 2022, 07:54:24 PM
40 years ago, Bitcoin's prehistory began; will Bitcoin mark the end of the journey? Will Bitcoin not eventually merge into one of those branches? Is Bitcoin the last hope?
Technology is not static, it constantly improves and advances as new knowledge emerges. Bitcoin does not have to merge or change the way it operates for the network to keep running, but the framework of the technology can be used to build innovations which can be applied into different niches.

I believe the road map has come to an end. and since we are still in the early stages, bitcoin is still relatively cheap.
Do you mean the roadmap of Bitcoin or of development in the blockchain tech space?
If it's Bitcoin, its whitepaper did not include a roadmap, and in the general space, there would not be a break in technological advancements.
1413  Other / Beginners & Help / Re: Should I invest in cryptocurrency or start my business? on: November 26, 2022, 08:38:16 PM
All the advices here pretty much contains all of the information you would need to make a decision, cause the final decision is yours to make, others can only make suggestions with the information you provided (which isn't much).

Your understanding of Bitcoin and the business you plan to enter should also help guide your decisions. Both investments have their own fair share of risks, BTC has a significantly less risk when compared to many altcoins, and some businesses are more risky than others (and possibly even more risky than holding Bitcoin).

For any of your investments to be successful, DYOR - Do Your Own Research.
1414  Economy / Economics / Re: Changing of bank notes; any impact on economy? on: November 25, 2022, 07:02:57 PM
the most notable among is that, a larger amount of the country's currency is in circulation. So, in an attempt to reduce the money in circulation, the apex bank in the country (Nigeria) redesign the bank notes and issued a deadline for the old notes to be returned to the bank.
From the reports I have read on this topic, the currency redesign is actually to boost the money in circulation, of which majority of it where unaccounted for. This means that the banks hold only a little of the nation's available cash, and out of those which are outside the bank, majority are hoarded, for different reasons, and are actually not circulating.

This and many other reasons brought about the new for the currency change.
To answer your topic title, it doesn't have much of an economic effect imo.
1415  Other / Archival / Re: Is there a chance we get a takedown notice? on: November 25, 2022, 06:50:28 PM
The way I see it; sharing or retaining user data beyond the stipulated timeframe is a bit different from actually requesting the website to take down a certain ad cause it pisses you off. It would also be sort of ironic for a Bitcoin oriented forum to work with the authorities to take down a privacy based platform which aids Bitcoin users.

If there is a court order to that effect, it could be possible, but I don't see that happening.
1416  Other / Beginners & Help / Re: No one is left behind in crypto on: November 24, 2022, 05:15:50 AM
The idea that one can buy Bitcoin in fractions is an open secret, which anyone with a bit of time to research on it would find out. What limits people most time is not the doubt that they can get some bitcoins regardless how much they have, but the ideology that they've missed the train and it's to late to get in now, so they go searching for the 'next bitcoin' among a bunch of garbage coins and end up losing money.

This is why I still advocate for using sats by default — to prevent the "bitcoin is too expensive" argument from newbies, then picking a sub $1 altcoin because "what if it goes to $1000".
I don't think changing this would make much of a difference to many, since it's still the exact same asset being discussed. Having people actually check up what they plan to invest in would go a long way in convincing people that bitcoin is still early on its journey and is still the leading cryptocurrency. Also, that the buy in price is only a minute metric to check when contemplating an investment.
Being incapable of this makes it extremely difficult to make any shrewd investment decision at all.
1417  Bitcoin / Bitcoin Discussion / Re: Mining Machine that makes Bitcoin while you sleep??? on: November 24, 2022, 03:18:47 AM
How do I know what to trust?!
You do not, so you do not get to trust anything or anyone. That's the exact point of being your own bank, as you are with Bitcoin; you do not trust, rather you verify.

Do not even trust that your friends are "making" money out of it, a quick search on how to mine Bitcoin would have revealed how a Bitcoin mining app is 100% a scam and would have deterred you from sending anything to them.
You already have a natural inclination to be skeptical and that's good, you just need to complement that with deep research on anything you intend to throw money into.
1418  Bitcoin / Bitcoin Discussion / Re: Will the Government use the Blockchain as a tool for control? on: November 24, 2022, 03:09:30 AM
Governments already has a lot of control in the current banking system, it allows then track flow of transaction, freeze accounts, reverse transactions and demand additional information should there be any suspicion of shady business, or on their discretion (depending on how corrupt the nation is). A CBDC based on the blockchain would just be replicating that level of control on a purely digital network, in the banking system, there's the alternative to hold cash, which cannot easily be tracked or restricted, but besides this, CBDC or fiat is basically one and the same.

A completely blockchain based system is not possible at this time, it would have to be supplemented with the traditional banking system.
1419  Other / Beginners & Help / Re: Hi guys, I'm new here on: November 23, 2022, 07:25:30 PM
Feel free to ask your questions and also familiarize yourself with how the forum works and the unofficial rules. The stickie threads (threads which are pinned to the top of the board) here on Beginners & Help are a good place to start, then you can explore stickies on other boards.
Read this and linked threads on it - https://bitcointalk.org/index.php?topic=1689727.0

Also check out the Search icon at the top of the forum. It would help you find previous discussions on questions you have and possibly answer your question before you get to post it.
1420  Other / Meta / Re: Question about ban and hopeful reversal on: November 22, 2022, 08:31:11 PM
Here's the archived version of the post for anyone who wants to check it out; https://loyce.club/archive/posts/5674/56744281.html

Waiting for an email response or sending a follow up mail might be the best way to go. There you could provide more information on your moniker on git and prove that it's same person on this account.
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