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1741  Other / Meta / Re: What section of this forum is between off-topic and these? on: August 15, 2022, 10:16:22 AM
If I understand correctly, you're asking for a section where discsuopns are kept serious and highly moderated, similar to the serious discussion and ivory tower board. But signatures are allowed regardless and it's not for a specific niche, like Development & Technical Discussions.

How do we solve this if such section does not exist yet?
AFAIK, such a section does not exist and for it to, we need to have extreme levels of moderation on the existing boards. (I believe existing boards, like Bitcoin Discussions or Economics would fit the idea, if it had less spam)
Signatures normally attracts all type of posters as there are bounties/campaigns for different users, majority of which are spammers, so strict moderation would be necessary.
1742  Other / Beginners & Help / Re: I'M NEW HERE, AND I WANT TO LEARN. on: August 15, 2022, 09:55:30 AM
Welcome to the forum, hope you would have a great time here.

It's great you have a learning span already, this would make it easier for you to adequately utilize the resources available to you here on the forum. It can be a little overwhelming, with the multiple links provided here (and more which would likely be added) and thousands of posts on the forum.
Understand that no one here knows everything, so take it a step at a time.

Find your interests and best ways to learn, then leverage on that. Good Luck.
1743  Other / Beginners & Help / Re: What I have learned about Bitcoin on: August 14, 2022, 01:19:38 PM
Despite the cryptocurrency's Bitcoin numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
I'm keeping the discussion on Bitcoin and not cryptocurrencies, which is a general term.
Firstly, "many" people don't believe Bitcoin to be an asset at all. Only a minority percentage of the population understands and invests in Bitcoin.
Also, Bitcoin is not valuable cause its price tends to rise more than it falls, leading to an appreciating pattern; Its price appreciates cause it is valuable.
This mean that people get into bitcoin (or at least used to) cause it had qualities that attracted investors, and hence its price rose. Like any speculative asset, after the price rose remarkably, lots of people fomoed in.

This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing.
Demand and supply are the two main factors of any market.
1744  Other / Meta / Re: merit point release on: August 14, 2022, 01:01:38 PM
Any user can send and receive merit at any time without any time limit,
This is correct for the most part, except that a user can send a maximum of 50 smerits to a particular profile within a 30 day period (or ~1 month).

This was introduced I believe to maintain consistency of the forum flow by lining it with the ranking standards.
Merits were introduced to combat spam. Prior to the merit system, users just created posts and boosted their activity inorder to rank up, leading to lots of spam in the forum.
Now users have to contribute constructively before ranking up.
1745  Bitcoin / Mining / Re: Can mining be relied on for financial stability? on: August 12, 2022, 06:59:48 PM
I'm not a miner, but I understand that the profitability of mining depends largely on your location and the availability of electricity around you.

There are also lots of other variables to consider such as; purchasing quality equipments and its maintenance, etc. Buying bitcoins on the other hand does not have extra requirements, besides maybe owning a hardware wallet or a steel backup.
1746  Other / Beginners & Help / Re: Need suggest on: August 12, 2022, 06:48:35 PM
I bought many tokens, the price is now much lower than the money I bought it with. Is there a possibility that the market will rise in the future?
The crypto market is on the downside atm, after the peak of late last year. This results in majority of coins losing most of their value, and forms part of a cycle of ups and downs.

Not all coins gain their value after dropping as 90% (and this is a conservative percent) of them are shitcoins which were built on hype. So, there's a 90% chance that the token you own would not regain its lost value.
Always do you own research, before making any investment decision
1747  Bitcoin / Bitcoin Discussion / Re: I Finally Helped My Friend Invest $50000 Into BITCOIN for Retirement. on: August 12, 2022, 02:26:37 PM
Great read. It's best that your friend got interested on their own, with the information provided.

First point to note; I assume that since they are investing for the long term (10- years), then they are not putting in money they urgently need. One should never invest amounts they cannot afford to lose, especially into a high risk asset.

Second point; How to secure the asset is more important than acquiring it.
For a purchase of that amount, your friend should definitely get a hardware wallet for cold storage. They should also preferably be privacy cautious when buying, or sending to their different addresses.
Back ups are also an important factor.

Thirdly, they should be aware of taxes regulations in their area.
1748  Other / Meta / Re: The DT system needs to change. on: August 10, 2022, 02:27:57 PM
resulting in the most popular of the choices: Net of 1, but with a minimum of 2 DT1 Inclusions.
About 27 users joined that poll, which is a low number to generalize the opinion of the community.
But, I would expect majority of the community to be in agreement with a net inclusion of 1 and minimum of 2 inclusions. This would help curb users getting placed into DT2 by increasing the entry barrier.
Maybe theymos organizes a more publicized poll to reach a decision.

Some honest users might be affected by such a cut, but if their judgement can be trusted by one DT1 users, then they can always be trusted by another overtime, as long as they are active in the trust system.

I don't know if even now that will seem too little.
Higher than the above suggestion may make it too steep for new users to get included.
1749  Bitcoin / Bitcoin Discussion / Re: Bitcoin cannot stop amazing me on: August 10, 2022, 02:04:23 PM
Baseless speculations by these powerful anti-Bitcoin forces have not been able to deter people from investing.
Cause they are baseless speculations.
You should not be listening to banks or financial cooperations about a decentralized technology, when they are promoters of a centralized system.

As I said, do your own research.
1750  Bitcoin / Bitcoin Discussion / Re: Bitcoin cannot stop amazing me on: August 10, 2022, 01:29:13 PM
How would people keep investing in a currency that recently lost almost 70% of its value against the naira that just lost 35% of its value?
The trick is to zoom out on the charts.
The naira as with many other fiat currencies have been getting devalued, due to inflation, while Bitcoin has been progressively appreciating in value, making it more of a hedge within a mid to long-term time range.
Of course, there would be intermittent price drops due to the speculative value, but the value always recovers. This is not the same with NGN and many other fiat currencies.

Why would people choose to invest in a currency that has been banned by the powerful central banks? Why would people still have confidence in a currency that has faced countless media wars by powerful nations, corporations and individuals depicting it as a bad investment?
The government and banks are against decentralization, so definitely they would be against Bitcoin.
Powerful nations, corporations and individuals can be wrong as well, or they are protecting their interests.
There are also countries, corporations and individuals who are enthusiastic about bitcoin.

You should however, not let others think for you, do you own research.

There have been speculations and projections that Bitcoin price would keep falling until it would soon become worthless, yet people still trust it.
Baseless speculations.
P.S, we don trust here, we verify.
1751  Other / Meta / Re: Appeal Mia_houston on: August 09, 2022, 03:03:22 PM
There should be an email address in the ban message you received on your main account.
If you have any proof as to why you are not related to the account linked to Mia_houston. Although, with the evidence provided, there's very little chance of the account getting unbanned.
1752  Bitcoin / Bitcoin Discussion / Re: What percentage of people in the USA do you think haven't paid taxes on trades? on: August 09, 2022, 02:01:59 PM
Quote
The sale or other exchange of virtual currencies, or the use of virtual currencies to pay for goods or services, or holding virtual currencies as an investment, generally has tax consequences that could result in tax liability.
Thanks for sharing, I was not aware of such distinctions in how taxes are calculated and what someone can be taxed.
I remember reading somewhere that in real estate you can reinvest (flip a property which has appreciated in value, for another) and you would not be taxed on it. Up until you sell the property for fiat; cashing out.
Not sure if that's still applicable and why crypto would be exempt.
1753  Bitcoin / Bitcoin Discussion / Re: The US government is targeting mixers. Are BTC mixers next? on: August 09, 2022, 10:44:45 AM
Developers need to create the kind of privacy feature that can't be abused/misused by criminals including those in government.
There is no single utopian system in the world which has not been exploited by bad actors. Banks which are constructs of the government have been involved in numerous illegal activities, some which it has mediated or actually carried out itself.

That's an impossible ask from developers. And the reality is the government does not really care about bad actors or the minority which uses it for illegal activities, the focus is on untraceable movement of assets to acquire more taxes and revenue.
1754  Bitcoin / Bitcoin Discussion / Re: What percentage of people in the USA do you think haven't paid taxes on trades? on: August 09, 2022, 10:40:21 AM
Then when I heard you have to pay taxes on cap gains I thought it was just for cashing out. I
AFAIK, it's just for cashing out or for when you make a purchase which can be taxable.
The tax rules vary from country to country, but in majority you shouldn't be taxed for converting BTC to ETH or vice versa, but on capital gains at the time you "cash out" relative to when you purchased the said asset.

It's of course a bummer that many are not properly educated on how taxes work, so what was originally designed to take from the rich, is now mostly affecting the poor and middle class who are not very informed about it.
About the percentage in the U.S who haven't paid taxes on traded (capital gain), that is impossible to speculate in my opinion.
1755  Other / Meta / Re: For mods - be a little more careful when handling reports on: August 08, 2022, 07:36:47 PM
<snip>
That should be the thread I remember if from, thanks for sharing it again.

I was coming from an angle where the comments of one of the multiple reports was not applicable it that case and could give a false good report to the user.
This is of cause a non issue as a couple sodt good reports don't really matter and mods can possibly handle them separately. I was just curious.
1756  Other / Meta / Re: For mods - be a little more careful when handling reports on: August 08, 2022, 07:19:00 PM
Mistake I saw happening the most often (at least to me) is that every once in a while report gets marked as good, while no action is taken. Since all this is done manually, no surprise that every once in a while mods forget to delete the post.
A mod would have to explain why that happens, could be a simple oversight as you pointed out.

I'll also like to know what happens when multiple reports on a single post are marked as good, while they have different comments, e.g, one is saying the post is spam to be deleted, and another is saying it's fit in another board.
IIRC, when a report is handled, all reports on that thread gets marked as good.
1757  Bitcoin / Bitcoin Discussion / Re: Have anyone saw bitcoin? on: August 08, 2022, 07:12:03 PM
<snip>
You are grossly ignorant of how digital technology works, if you base it's authenticity on "seeing" it.
And your refusal to learn or do any bit of research shows you are a troll and not an informed one at that.
Enjoy your folly
1758  Bitcoin / Bitcoin Discussion / Re: Have anyone saw bitcoin? on: August 08, 2022, 05:46:14 PM
Can you please answer the question, instead of repeating some random answers? I see people claiming to buy or own BTC. But all they can show me is number send to them, and "BTC" in their wallet apps. I can come up with a communication system that would have "Porsche" written next to the number I would send to people who would register to that system. But that doesn't mean they would own Porsches. So, why do you think that you own BTC, when you receive some number via Nakamoto's communication system and see "BTC" next to it?
You example is highly flawed, porches are an existing product, you cannot create a system to duplicate that. Bitcoin is not trying to imitate any existing asset or technology.

Are you aware of how a digital commodity works? There are digital gift cards which have a certain value, there are assets which are represented physically which have a value as well, Bitcoin is one of such assets.
It exists on the blockchain technology. If you believe a thing has to be physical to be real, then you're about 30 years behind.

If you can come up with a digital system which is immutable, transparent, fungible, decentralized etc, that would equally be valuable.
1759  Alternate cryptocurrencies / Altcoin Discussion / Re: Need some help: is this a Tether adddress or not? on: August 08, 2022, 04:38:07 PM
And can you show me all transactions that were made to this address?
You can always check an address using a block explorer like blockchair.com
This would show all transactions the address has been involved in, but cannot de anonymize the wallet to show the owner.
That can only be assumed based on the frequency of transactions as to whether it's an exchange wallet or an individual address.

As LoyceV said, it's a completely empty wallet which has not been involved in any transactions.
1760  Bitcoin / Bitcoin Discussion / Re: Could bitcoin mining solve climate change? on: August 08, 2022, 03:06:33 PM
I believe that’s what Tesla’s agenda is! To make the environment more happier by reducing pollution with the help of electric vehicles. At least that’s what it looks like with their behaviour.

Because they were so clear when they became unhappy with the bitcoin mining and its greenhouse effects due to higher electrical energy usage. That’s why they switched to DOGE, remember?
Tesla as with majority of media companies found it profiting to push the agenda that Bitcoin damages the environment and consumes more electricity that Wakanda or some other bs.
This is not a reflection of the reality at all.

I think bitcoin mining is not pushing anything towards greener power house and stuff. Its all about making money through big mining farms.

Yes there are subsidies and few great examples are trying to improve the mining operations but as whole I believe that % is too less.
Reports from the last couple of years actually show that Bitcoin mining is majorly consuming green energy. Here's a report you can read through to get more information - https://coinshares.com/research/bitcoin-mining-network-december-2019

The report does not talk about great examples, but the vast majority being environmentally friendly.
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