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2221  Bitcoin / Bitcoin Discussion / Re: Upliftment of Crypto Ban of Nigerian Banks on: March 13, 2022, 10:13:18 AM
How do you cashout BTC?
There are ways to cash out of course going through banks or 3rd party will be risky for you.
There are peer-to-peer exchanges which connect buyers and sellers together such as bisq and hodlhodl. There are also P2P options on centralized exchanges where users can trade directly with each other through a regulatory system acting as escrow.

And if I were in your shoes, I wouldn't risk meetup or peer to peer either.
Bitcoin was designed to be a peer-to-peer network, so it is ironic you would not risk that, but would trust a third party system.
2222  Other / Meta / Re: Let's change the perspective and stop plagiarism. on: March 12, 2022, 08:53:10 PM
I fail to understand the purpose of this thread, the forum rules on plagiarism is not ambiguous;
• Users do not get banned for sharing content of others as long as it is referenced or indicated that is a quote,
• If there is enough original thought and content put in, it doesn't count as plagiarism,
• Cases are handled case by case and leniency shown in different scenarios,

Users can report to the mods based on their personal view and mods can decide on what action to take, that does not warrant a thread. Users who report are not the problem, those who break the rules are.

@lovesmayfamilis sir did not want to harm you sir just point out your mistakes you learn from this and keep your feet on good steps then you can survive here for a long time you can recognize this world as your own.
Huh Huh Huh
2223  Bitcoin / Bitcoin Discussion / Re: Upliftment of Crypto Ban of Nigerian Banks on: March 12, 2022, 08:42:03 PM
I am personally not hopeful that the federal government would renege on its decision to ban banks from getting involved in crypto transactions, beyond articles like these, the benefits of bitcoin to the citizens are evident, and one of them which sticks out a lot is the freedom it gives to users, and not every country wants the people to have that kind of freedom, especially as controlling the financial system is one way countries control the people.

Upon the ban of the currency, Nigerian youths still use the currency effective.
Cause you cannot ban the bitcoin network, you can only ban yourselves from it. As a decentralized asset, no one has control to prevent transactions.
2224  Bitcoin / Bitcoin Discussion / Re: EU proof of work ban (Bitcoin) on: March 12, 2022, 08:33:04 PM
Will bitcoin scalability reduce the rate of energy consumption in the future to have an edge of parliament decisions in such a direction just like Bitcoin's anti-inflation mechanism
The headline is being milked by the media for views and clicks, and the idea of bitcoin contributing to climate change and the energy consumption being detrimental is something that has for a long time been blown out of proportion a lot and does not reflect the reality.
There is no extensive damage caused by bitcoins usage and consequently there is no issue that needs to be fixed.
2225  Bitcoin / Bitcoin Discussion / Re: Bitcoin & California on: March 10, 2022, 08:18:16 PM
One thing I’ve kind of been wanting to ask when it comes to making bitcoin legal tender in certain places, why does it really matter, like what difference will it make exactly?
It does not directly help Bitcoin, but it could shape the public opinion around it. Governments turning to Bitcoin announced it as a global asset, meaning more people would want to own it, driving up demand.

Does that mean that every place has to start also accepting bitcoin ?
They do not have to and countries/states which do accept Bitcoin would be doing themselves a favour and eojmd be ahead of the curve in the coming years considering the potential growth of the network.
Bitcoin would be fine without such adoption though.
2226  Bitcoin / Bitcoin Discussion / Re: Mexican cartels launder 25.000M $ per year – press highlights association to BTC on: March 10, 2022, 07:36:48 PM
Press needs to stop searching for headings and learn to contextualize properly. By the above quotes from the base report, they should really have highlighted the association to banks, and not to crypto ...
A link between cartels and fiat will not really yield much traffic, cause people do not really care about what is done with fiat which is already accepted globally as the staple means of transacting, drug deals happen on the streets everyday with fiat, nothing new to see there. Crypto would make far more headlines and news media has been known to twist news headlines in order to create more controversy, and there's no shortage of controversy with Bitcoin.

The best approach is to debunk those news articles on social media and any other source it is published so more people are aware of the twosted facts.
2227  Economy / Speculation / Re: Why is the price of BTC dropping? on: March 10, 2022, 07:23:39 PM
Seeming decline in the price of Bitcoin is becoming a cause for alarm, because investors and intending ones will be skeptical, preferring to wait to see if there will be a balance.
If you zoomed out of the chart to a couple of months or years, then you would not notice any cause for alarm, rather an asset which has been steadily appreciating over time.
Intending investors should not focus on the last 7 days chart when choosing an investment, or they would likely be making the mistake of buying shit coins which were pumped and are going to dump. Proper research involves studying the fundamentals and also the technical aspects of the market.

Bitcoin is currently trading at $37,000 down approximately 45% from its high as posted in Nov. 2021. Are there provisions put in place to curtail this downward spiral?
This is a decentralized network and there is no system which regulates the price.
2228  Bitcoin / Bitcoin Discussion / Re: Police can confiscate refugees' valuables. bitcoin not affected... on: March 09, 2022, 09:05:02 PM
That's a terrible idea in my opinion, specially for a chaotic situation where the laws are being bent or don't even exist anymore. Those so called "secure" platforms could start taking their money and never giving it back. Not to mention that any form of online storage of your keys is very risky itself.
I am aware of the risk and would normally not suggest that anyone store their keys or seed phrase online, it is a terrible idea. I was considering a worse case scenario where you have to take a radical approach.

I was discussing a situation where the laws were being bent in one country, which does not affect international platforms not hosted there, it still presents a huge risk however and is not recommended.
2229  Other / Beginners & Help / Re: The power of a questionnaire on: March 08, 2022, 08:15:16 PM
To have good questions, you must have knowledge and experience which are not what newbies have. Scam projects aim at newbies at most because they are more vulnerable to scam.
Newbies are usually the target audience, but more experienced members can also call victim to scams due to lack of knowledge.
The blockchain tech has been linked to everything, from health, to web search engines, and investors do not normally have knowledge in this niche to properly answer the important questions, like;

• Does Blockchain have any real utility in this field?
• Is there any other platform that functions better?
• Are there existing projects similar to this one?

My take is people should generally only invest in something they have knowledge on. Keep it very simple and avoid the utopian dreams on may project road maps
2230  Economy / Exchanges / Re: Mastercard and Visa Cards Issued in Russia Unavailable on Binance on: March 08, 2022, 07:25:22 PM
What's the situation with American Express, I wonder. [~link~] I imagine Binance wouldn't work with those either?
That would be a ripple effect of the bank. Payment systems which are restricting operations to Russia would affect all transactions, including cryptocurrency transfers.

I don't want to believe the bad, but most likely the next step could be blocking Russian users.
That would not be a necessary measure and would further heighten the mistrust many people have about using centralized exchanges.
Some top exchanges have declared that they would not be banning Russian accounts on their platforms.
2231  Bitcoin / Bitcoin Discussion / Re: Police can confiscate refugees' valuables. bitcoin not affected... on: March 08, 2022, 07:19:15 PM
Meanwhile bitcoin doesn't take up any space, it can be 12 words that you memorize or write down in a book spread among pages without anybody knowing what it is and can not be confiscated. All one's net-worth could be carried around like this. Grin
I would not suggest memorizing your seed phrase as an option if you want to recover your wallet address after crossing the border, we can memorize lots of information, but trusting your brain to store your seed phrase and remember it accurately is very risky, especially as your crossing could be delayed for whatever reason and now you have to store it for longer.

In the worst case scenario when it is impossible to pass with any thing related to bitcoin, one could take the risk of sending it through a "secure" platform which they can log in on some other device and quickly sweep the wallet. This also comes with it's fair share of risk.
2232  Bitcoin / Bitcoin Discussion / Re: Cleaning the money of support on: March 08, 2022, 02:48:54 PM
I know that there is Chipmixer which sends me chips that was created in the past. I like the principle of this site, but how can I be sure, that they really don`t save the data, and if the site will be hacked and everything revealed, the chips can be connected to me?
IIRC, chipmixer does not store sessions for longer than 48 hours, so in case of a hack or breach, your data is not available to be leaked.
For extra privacy, you can use it over the For browser and use a .onion address to access the website.

Or is there any exchange, which has no KYC, and I can change the BTC to Monero, send to another address, and then change back to BTC and make it not connected to me?
You can try using a peer-to-peer platform like bisq or hodlhodl which doesn't require KYC.


P.S. if you're privacy cautious, I'll suggest you do not expose your email on your profile
2233  Other / Meta / Re: Bitcointalk accounts - Ukraine on: March 08, 2022, 02:28:32 PM
Not saying that they are necessarily bad guys, but I think it would be a good idea to not allow pwd and e-mail change until we will celebrate victory over Putin's zombies.
That would be a very heavy handed approach to a not so clear problem. Putin is not going to waste time to spread propaganda here on the forum, there are so many other platforms with a much wider audience than bitcointalk and even on those platforms, hacking a couple of accounts would not really affect the public information.

You could tag accounts you find to be spreading information and draw attention for other members to do same.
2234  Bitcoin / Bitcoin Discussion / Re: Women's Day Wishes to all Women Bitcoiners on: March 08, 2022, 09:18:12 AM
I wonder what the reason is ?
The reason for gender differences can not be easily determined, it would have roots in the society and upbringing, but we generally have men and women aspiring to different things even in the most egalitarian societies.

But, while we cannot understand why more women are not into cryptocurrencies, we can celebrate the ones who are and make this niche area accommodating for the ones who would want to be entering later on.
2235  Economy / Economics / Re: Russia can evade sanction through cryptocurrencies on: March 08, 2022, 08:47:34 AM
What is your take? What role can cryptocurrencies play in helping Russia sanctions evasion and to what extent can this be?
Cryptocurrencies while being a decentralized asset/currency cannot help Russia or any country evade international sanctions.

Popular payment systems; VISA, MasterCard, American Express have all declared that international payments from Russia would be halted, and this came after U.S. and some E.U. countries blocked certain banks in Russia from SWIFT, all of these sanctions would not be evaded by bitcoin or any other cryptocurrency, it can help the citizens escape economic collapse and have an alternative payment system, but cannot shield the country from the effects.

Stopping the war would be the fastest way to lift those sanctions, but Russia do not look to be considering that now after hinting at a partnership with a Chinese payment system.
2236  Bitcoin / Bitcoin Discussion / Re: Global Bitcoin/crypto debit card project on: March 08, 2022, 08:29:13 AM
Before embarking on such a project, you should understand the utility of crypto cards in those countries where it is available and the need for it in those where it is not. This would help determine if there is a market to sustain the project.

But the regions not covered by the known crypto cards may also be sanctioned or have crypto illegal. One big area that comes into my mind is Nigeria, where crypto is now illegal.
Crypto is not technically illegal in Nigeria; it is not a crime to hold or trade it, but banks are banned from mediating crypto transactions, so I can trade peer-to-peer, but I cannot directly fund an exchange account from my bank or withdraw directly to my bank account, such bank accounts would be sanctioned or possibly frozen.
2237  Other / Meta / Re: Why was self-moderated topic feature disabled? on: March 06, 2022, 08:43:12 PM
My problem is not here, topic is no longer self-moderation when I brought it back to reputation.
The self moderation tag is removed permanently if the thread is moved to a board that does not support it, a reasonable explanation for this would be that members that commented on the thread while it was in Meta and not self moderated did not agree to be moderated by a forum member and as such, should not have to be.

So, the same way posts that were started without self moderation being enabled cannot be changed to include it later on, as then the op would be able to moderate members that did not agree to that.
2238  Bitcoin / Bitcoin Discussion / Re: How To Base Value of Goods and Services To Bitcoin? on: March 06, 2022, 07:20:30 PM
How do we go about to determine Good and Services value entirely on Bitcoin?
This is a question I have been puzzling over for a long time now. To answer this, we have to take a look at the current fiat system and how it functions; The value of fiat is determined by the countries economic strength and policies which affect supply and inflation, it is also heavily influenced by demand and supply on currency trades. It does not have any inherent value.

Bitcoin as a staple currency for buying goods and services would function in a similar manner, demand and supply would determine its value and at this point it would be much more stable than it is right now. But this is such a far away time that it would be difficult to determine how it would work from now.
2239  Economy / Speculation / Re: If Russia goes full Bitcoin adoption on: March 06, 2022, 07:05:19 PM
So what would happen if Russia went full adoption on BTC as this would be an unregulated alternative.
Would bitcoin be able to actually circumvent the ban, banking transactions cannot be replaced by bitcoin as its adoption is limited and cannoct connect them to the rest of the world. Bitcoin could be used to an extent to confirm some transactions but cannot sufficiently finance all transactions in the country.

In my opinion, this could throw BTC in a black hole, as US and Europe would be forced to ban or regulate it to death. (Quickly)
The U.S and European banks are not financed by bitcoin and it does not influence the SWIFT ban, so there would be no need to regulate bitcoin further.
2240  Bitcoin / Bitcoin Discussion / Re: Centralised Exchanges are the Biggest Enemies of Bitcoin on: March 06, 2022, 03:43:30 PM
I don't think CEX is the big enemy of bitcoin but on the contrary, CEX also helps the development of bitcoin to reach more users.
Exchanges are tools used to trade cryptocurrencies, it does not directly make bitcoin popular or reach more users, rather it is the userbase that makes the exchanges popular. If more people moved over to using decentralized exchanges then it would become as popular and would be said to reach more people.
Centralized exchanges act as intermediate, so trading on such platforms is not really peer to peer or decentralized as bitcoin was meant to be.
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