What will be the faith of bitcoin users if the value of bitcoin becomes stable in May 2022, a lot of prediction has been made in recent years on the rising and falling of bitcoin?
Before I discuss this hypothetical situation, I should point out that no singular asset can be completely stable, it can experience reduced volatility and price fluctuations, but cannot maintain a singular value, especially as each asset is or can be compared to all other assest. Now, if Bitcoin for whatever reason becomes stable next month; There would be a bit of restructuring around the utilities of bitcoin. Speculative value would reduce with volatility. Trades would still be possible, but longer term futures and shorting trades would not be as popular, Bitcoin would be more used as a hedge fund and store of value , Bitcoin would be more used in daily transactions, without the need for processors. Must there be a rising and falling of crypto before the market can work effectively
NO. Volatility has been on the decline over the past years.
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When choosing a material for storing your seed phrase, it's advisable to go for a durable, yet malleable one, which can possibly survive accidents like fire, floods and is also not obvious, to avoid detection.
Paper wallets are called so, but that's not the safest material for storing the seed phrase which accesses ones portfolio, it is prone to so many accidents that can render it invalid;. Engraving on a metal sheet (like steel), Laser printing etc.
It is also always advisable to have your recovery phrase stored in more than one location.
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... it could be confiscated if the TSA found out that you are carrying bitcoin and they could force you to enter your PIN. So the best thing to do when traveling is to wipe it out, and recover it later with your recovery passphrase, in my opinion.
In the event of this, there is an option of plausible deniability where you can create an extended passphrase to serve as an extra layer of security. In this instance how much Bitcoin you own is not known, so you can keep a relatively small amount stored on the regular seed phrase and protect your full stash with an extended passphrase of which you know nothing about when interrogated or harrased.
By wipe out, do you mean delete the address and carry the seed phrase on you, to recover it on arrival.
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If you operate an offline backup method (as you should), there is no extra required to store your used addresses and the corresponding seed phrase. You likely still own bitcoins and have a safe area where you store them, you can always keep your previously used mnemonics there as well.
The chances of one receiving bitcoins randomly to an address they no longer use is slim and making a mistake when sending should ideally not happen, but if there's no cost to save it and there's a potential downside of not doing so, no matter how slim the possibility is; It is best to keep it.
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Thinking of it, I do not follow notable names in the Bitcoin world, a few names pop up like Hal Finney, but overall I do not really look up to anyone in the Bitcoin community. Don't get me wrong, there are lots of notable members who have cobtributed immensely to the growth of Bitcoin many of which would not be k own publicly.
This forum and all the members who keep it going as the most reliable resource for Bitcoin discussions after quite a number of years would pass as my Bitcoin heros and heroines.
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Can I add "not using the search option before posting" to the mix?"
Reading through the same update on trending issues twice or having to read through a similar kind of post about merits, how to get them or some other generic stuff can be off puting to most.
There has been tons of posts and threads made in the forum, and there's a high probability that what you want to discuss has been takes about before, it does not hurt to do a quick search and maybe use that as a reference for your post, so it's not just a repetition.
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Off-topic should have the same rules if you ask me, but it would "derank" a lot of accounts and since it's been around for a while, being board no. 9, it would have too much retroactive repercussions. Maybe a "from now on" approach might be worthwhile I'm usually skeptical about any action taken to discourage posting in the Off-topic board, mostly because those members who contribute to the spam would not just pack up and leave, they would rather look for alternate boards to spam easily. This would greatly increase the job moderators do and add to the growing spam around the forum. It's easy to not visist a certain board if you don't find it interesting, but if the same activity spreads around all the boards, that's not so easy to ignore.
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The important point for me is how it was pointed out that bitcoin's volatility is reducing which is evident in the market. Bitcoin was significantly more volatile years ago than it is now, and would most likely be less volatile years from now. People say "Dont invest in Bitcoin, it is too volatile!" but is this saying true? If people don't want to invest in Bitcoin cause they believe it is too volatile, then they can. Doesn't matter if it's not as volatile when compared to some other stocks or there's a general bias. People should make decisions based on what they believe of the market, with the information available to them.
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Basically, the higher the hash rate, the more secure the network, since more computation intensity is needed to attack it.
Higher hashrate does mean more network security, and it would be far more expensive to attempt to centralize the network and obtain 51% computing power and try to hijack the network. Does anyone by any chance have a chart or graph which shows how mining power is distributed globally since the Chinese ban?
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So basically, you're looking for a platform where you can sell cryptocurrency and buy back later.
I've not used atomic swap, but there are a number of decentralized exchanges you can use to sell and buy back later, depending on the exact currency you want to sell and what you want to exchange it for, fist or some other cryptocurrency?
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Greed plays a part I guess. Users who cut corners and take short cuts would usually not want to put in the effort required to build anything as they want the easy way out; This could be the reason why they have connected data between their old and new accounts, why create another social media profile when you can simply use the old one which is still functioning?
I would also assume there are others, who have evaded bans with multiple accounts without being caught as we've seen very large account farms get bursted.
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These news is weeks old, and it would help if you include the sources and show in your title that it is a claim. I read through this article and I'm more interested in knowing how the government identified who is opening wallets, at what age and how much they are transferring. Even if they used centralized exchanges with custodial wallets, they have to just pass on the information to the government directly as soon as they gather it, for them to be able to monitor user address.
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You forget say no be everybody like to deh ask questions for public especially when them no even know how to take arrange mouth ask am so that people no go laugh them. Alot of new users for this place go get this type of problem. Na shyness deh disturb them, oga.
Anybody wey dey feel like that for here suppose drop that kind mindset. The man Koko why we get local thread na make we dey communicate in a way we do normally for day to day activities. Ask the question anyhow wey you fit and I sure say person go answer you for here. If your shyness too much, you fit PM person for guidance too.
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From the inception of bitcoin, it was intended to be used as normal currency so every part of the world could use one online trading currency (electronic currency). But due to its price volatility it makes it a bit difficult to actualize that dream.
Bitcoin has been used globally for Peer to Peer transactions as it was intended, it is accepted as a means of payment by numerous merchants, including oflline and online stores. Volatility and speculative value adds trading to the list of Bitcoin utilities. But in recent times, other Cryptocurrencies have emerged which are called stable coins, they are stable in price, and are fixed to an existing currencies around the world. They can be used as electronic payment for a per to per transactions so long the receiver and the payer have their wallets.
Bitcoin was not intended to operate as a stable coins. Stable coins are mostly not decentralized. And most people uses this insted of fiat money, will it be that later in the future countries will no longer use Fiat money but these electronic currency?
"Most" people do not use stable coins instead of Fiat and fiat would not likely be replaced. Countries might just simply adopt the blockchain through CBDCs.
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- How comfortable are you every time you transfer to a remote address?
- Would you be more comfortable using a helper?
Comfortable enough Not at all. Being your own bank means you take responsibility for your actions. Trusting a "helper" with any crypto related activity defaeats the purpose of cryptocurrencies and being autonomous. What do you use today to mitigate this risk?[/b][/li][/list]
Triple check the address before signing the transaction (or sending your address to someone), Actually look through the entire alphanumerics and not just the first and last few, Ensure the address is correct and it's compatible with the coin you're sending from. Other precautions; Protect your device from malwares which could expose one to keyboard highjacking
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Majority of European countries already have wheels in motion to cut of their dependency on Russian Gas and oil within the coming months and years, so it is somewhat a logical approach for Russia to try and use it fully to their advantage now, this seems to me like a simplified version of the politics Russia is playing.
Would be interesting to see the response from Poland and Bulgaria and the rest of the West, Paying Russia in rubles would make sanctions less effective and strengthen their local currency, not paying them, those countries face a severe crisis which would affect their economy.
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With owning this huge platform of Twitter he can either break it or make it. I think.
No single social platform can make or break Bitcoin Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.
No again. Twitter adopting doge would be good for the meme coin, but would have no long term effect on bitcoin. Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.
Do not place too much importance to an individual or company, Bitcoin is been adopted massivelyby different cooperations and is not sitting around waiting for approval from Elon Musk.
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By definition, human capital development is the process of improving the human factor in an organization, it involves creating a conducive and enabling environment with the aim of allowing workers reach their full potential. I struggle to see how Bitcoin can improve this. Bitcoin is a revolutionary technology which has lots of utility in today's world, but it does not solve every problem, neither can it be applied to every industry. How possible can this information spread to the countries that are yet to accept Bitcoin?
What do you mean accept Bitcoin? Bitcoin does not have to be made a legal tender for citizens of a nation to adopt it.
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What do you think about this Step from one of the most decentralized finance exchange UniSwap?
It seems not to be so "decentralized" after all. For this to work in a decentralized system, there needed to have been consensus from the community which share administrative powers, but in this case, those powers are centralized and controlled by the company. My question for you guys is where is the decentralization in the crypto space?
Decentralization is up to you. Use a decentralized coin, like Bitcoin, stored on a non custodian, open source wallet and transact over decentralized P2P platforms. I keep telling a friend that decentralisation in crypto space won't work out 100% because this will increase the crime rate in crypto space, The above steps work 100% Centralization does not reduce crime rate, it just allows the government to monitor and control your finances.
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Transactions between addresses is not proof enough of alt accounts, there are a lot of reasons why forum members would transact, which might not be publicly available. Joined sphere bounty in Same time frame This is also not proof enough of alt accounts or that those profiles are scammers
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