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September 21, 2023, 07:08:45 PM *
News: Latest Bitcoin Core release: 25.0 [Torrent]
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1  Local / Nigeria (Naija) / Re: C R & Di Use of Di Old Coins in Naija on: Today at 02:10:20 PM
How did we get here?  Is the labour of our heroes past in vain? How come our leaders are comfortable watching how the economy of our nation is crumbling and devastating people. Where did Nigeria go wrong to be going through all this crisis? So many unanswered questions waiting and begging for answers.
One of the reasons that Nigerians government has not be able to force those crypto exchanges to have offices in Nigeria and be taxing them.  Grin

The reasons are obvious, but they are not seeing it. Incompetent leadership. Not all those that went to school are educated or have enough knowledge and experience to make a great economy.
2  Local / Nigeria (Naija) / Re: [Edu] Bitcoin Wallet Dusting Attack and UTXO Control. on: Today at 01:33:07 PM
First of all, this may be unrelated to this thread but it is worth mentioning. On this forum, Wasabi coinjoin is not recommended, although it is cheaper but the recommended coinjoin are Whirlpool on Sparrow wallet or Samourai, and Jointmarket if you run your own node. Wasabi has been a good wallet until their developers started working together with Chainanalysis. There are many other wallets that has coin control, and one of the most reputed one is Electrum. On mobile, Bluewallet supports coin control.

2. Click UTXO => right click on the suspected dusting attack UTXO => Freeze UTXO
This is one of the ways to unlink your coins from dust attack coins. But the better way is to send them out of the wallet entirely if possible, like send it to a charity address. Or to send  your coins out of the wallet entirely while not sending the dust coins along. Or to send all the coins to a mixer to get a clean coin. I prefer it these way.

Or you can convert the coin to monero and convert it back to bitcoin on a decentralized exchange, or make use of mixero advanced if you do not want to use a decentralized exchange for the monero mixing method.
3  Local / Nigeria (Naija) / Re: Scam no de for bitcoin as e de for fiat. on: Today at 12:06:35 PM
If you are careless with your bitcoin wallet, your wallet can be compromised and your coins can be stolen. If you are careless with you seed phrase, your wallet can be compromised and your coin will be stolen. In anything that has value, scam is possible because people will like to scam people to get hold of that thing, and bitcoin is not an exception. So, protect your bitcoin wallet.

For security, use wallet on an airgapped device.
Airgapped device means the device Bluetooth and WiFi card has been removed and not connecting to external devices or internet as it would remain offline after you have installed the wallet (like Electrum).

If you can not go for an airgapped device, you can go for a hardware wallet like Passport (bitcoin-only) or Trezor (for multicoins).

For the little amount of coins you have on online wallets, make sure you do not enable your device to install malware. Malware can be downloaded through ads, torrent files, ad links and many other ways which are easy to avoid.
4  Bitcoin / Wallet software / Re: Unstoppable wallet {User experiences} on: Today at 11:15:16 AM
I don't know how it works and my knowledge of timelocks is non-existent. I won't use things that I don't know that could pose a risk of loss. Maybe I need to learn about timelocks before trying this.
There is nothing hard about lock time. But I see it better on wallets like Electrum or using for it. On the wallet I just mentioned, you can decide to also use a specific date and time, or you can use blockheight instead. On Electrum, you can even use unix time if you want.

On Unstoppable wallet, once you have enabled timelock under settings, and you want to make bitcoin transaction, you can set the time you want the bitcoin transaction to be broadcasted.


I do not like how the time lock is on Unstoppable for now, but some people may like as is it.

I do not see how it can lead to loss of coins, it can not. But it is possible that the time lock may not work as expected which might be the experimental Unstoppable wallet developers are referring to.

I will prefer to know the version they introduced timelock.
5  Local / Nigeria (Naija) / Re: Bitcoin price speculation (BTC/NGN) on: Today at 10:08:16 AM
What I noticed recently is that the price of dollar to a naira is almost ₦1000. As at today, the dollar is ₦990 to a dollar. Even if bitcoin did not increase in price (I am not saying the price of bitcoin did not increase), its value in naira still continue to increase. Bitcoin is almost ₦26,400,000. Some people said dollar will likely be ₦1000 this year, this is about to happen.

When comparing bitcoin and naira, holding bitcoin has been proven better.
6  Local / Nigeria (Naija) / Re: Report quality posts on: Today at 09:58:52 AM
7  Local / Nigeria (Naija) / Re: What is coin and what's a token on: Today at 09:28:05 AM
Your source link is just an online search about the difference between coins and tokens. You can correct that.

Let us be aware of coins we invest, because so many of altcoins we invest and believing that they are recognised to invest, most of them is a token that have never own it's ownership in blockchain so they liable to die young in the market of crypto as world health says smokers are liable to die young, just be aware before a token turn to a coin is hard and some of the altcoins we buy is a token, we have to  be serious for investigation of altcoins before we buy, this topic brought you the difference between a coin and a token because some people uses token as a coin which is improper, why token is not independent on its blockchain.
Altcoins generally are risky. Example is the old Luna (now called Lunc), it was not a token but has its own blockchain, its all-time-high was $119, but now at $00005709. There are many coins that has its own blockchain that are now shitcoins. If you are dealing with altcoins, know that you are gambling.
8  Local / Nigeria (Naija) / Re: Was Presidential tribunal necessary? on: Today at 09:01:02 AM
the whole Nigeria system is corrupt even the judges who are supposed to act as head to the country have been blind folded by corruption.
If we should be truthful about this, if the presidential candidate that you expected to win did not win, you will not speak anything good about the election, especially if the presidential party that won the last election win again.

Even if Atiku or Peter Obi won the election, Nigeria is still corrupt. If the knowledge Nigeria politicians diverted to corruption is diverted to improving economy, Nigeria would be a better country by now.

we are supposed to experience a change in every new government that comes in play. but in Nigeria every new government comes with new ideas that further increase the hardship of the common man. they no longer care if what they do affects the public because there's no one to stop them. We can only hope on God now, if not Nigeria has gone  state of no repair. let's hope and wait for the 4 year of Tinibu jagaba to see where it all leads. Please let's drop our own opinion on this.
I will agree with you about this because the standard of living in Nigeria is poor. Tinubu has just started not quite long, let us wait and see the ending. The beginning may be poor, but the ending results can make the beginning worth it. But I will not be surprised if the ending is also not as good just as the beginning.
9  Local / Nigeria (Naija) / Re: C R & Di Use of Di Old Coins in Naija on: Today at 08:44:23 AM
These EeePCee people sef. E bi like sey na comedians plenty pass serious minded people for there. See d type of talk wey dey comot from a whole CBN. So, for dem mind na to redenominate d naira go make am compete with the US dollar, ba? Jokers.
No where that CBN said naira re-denomination will make naira to compete United States dollar. This is what CBN talked about what you are or that you may be referring to:

Will the new Naira Policy or the re-denomination solve all of Nigeria’s economic problems?

No. The new policy (as a package of 4-point agenda) will only deliver the things outlined at the beginning of this Note. Mr. President has outlined a 7- point agenda needed to create wealth and jobs, reduce poverty, and ensure security of lives and property. The new Naira policy will help to create the macroeconomic stability, efficient payments system and confidence, which constitute an important building block to enable Mr. President’s programme work well. All stakeholders in the Nigerian economy--- public and private sector institutions and individuals--- will have to do their respective parts under the able leadership of Mr. President for the Nigerian economy to boom and endure.

Instead of this government to find ways of creating export, they're there talking about irrelevant stuff. Create export of owa goods and services and people go need d naira to pay for them. Dat way, the naira will be strengthened and in high demand.
You are definitely right about this. Nigeria needs more export and also in the process there will more products and services that will be created locally, instead of depending more on imports. Although, a government that wants to do something good can begin this way, but if what is affecting the economy is not tackled, the price of naira will begin to decrease again and again as the government will start depreciating naira as it is now and nothing changed.
10  Bitcoin / Bitcoin Technical Support / Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?! on: Today at 08:20:51 AM
For example, if you have 70 UTXOs in total, then each utxo takes about 200 or so (v)bytes in the transaction, so 70 * 200 = at least 14000 sats transaction if not more.
The v(size) of data added to a transaction for each input is usually much smaller.
Even if you add a legacy input to your transaction, it adds around 140 vbytes to transaction size. Each native segwit input adds around 68 vbytes and each nested input adds around 93 vbytes to transaction size.
Which means for 70 inputs and 1 output for legacy addresses, it has 10404 vbytes
For 70 inputs and 1 output for segwit version 0 addresses, it has 4802 vbytes
For 70 inputs and 1 output for segwit version 1 (P2TR) addresses, it has 4079 vbytes

The fee will be much lower for segwit addresses. Although, not still worth consolidating when mempool is very congested.
11  Economy / Service Announcements / Re: [ANN] | Best Bitcoin Mixer | Extra Layer of Privacy by XMR Bridge on: September 20, 2023, 09:12:37 PM
Hi, after reading about the method you are using to mix bitcoins, I was wondering, I could use the same method to mix bitcoins using a DEX instead of using your services, right?
The coinjoin method is completely different, but likely you are referring to advanced. If you use coinjoin, it is the normal mixing of sending the mixer bitcoin and the mixer will send you back the bitcoin using different address.

If you use a decentralized exchange, you will have to first convert bitcoin to monero and then convert the monero back to bitcoin. But with, it is made easy. All you just have to do is to click on advance, paste your bitcoin address that you want to receive your mixed coin and proceed to pay the address given and wait until you receive your coin after you have downloaded the letter of guarantee.

Another thing coming to mind, is it possible to mix bitcoin using lightning network/tokens?
If you are running your own lightning node or you are using the lightning network on noncustodial wallet like Electrum, that is a form of mixing.

The only reason I could think of myself using a mixer, would be to hide my gambling coins (which I don't have any) from my government, or hiding puzzle prize coins ( when I find one, God willing), or if I was trying to launder my illegitimate money.(which I don't have any)
There are many reasons that you can use a mixer. If I have 1 BTC and I want to send 0.002 BTC to a friend, I may first transfer the 0.002 BTC to a mixer and then transfer it to my friend so that my friend will not know that I have 0.998 BTC left. Mixers helps in having privacy.
12  Other / Meta / Re: Cybersecurity Board - Hardware Wallets Save All Now - But How Long ? on: September 20, 2023, 08:51:25 PM
Cybersecurity board can provide all the latest security-related news and update but it will be mostly untouched due to the lack of technical knowledge of a wide range of forum members.
Then why are people on this bitcoin forum visiting this forum if they can not know about cybersecurity? The boards that I noticed many people do not like to involve themselves in discussion are technical boards. There are many cybersecurity threads on bitcoin discussion and beginners and help that most people on this forum have replies.
13  Other / Meta / Re: Cybersecurity Board - Hardware Wallets Save All Now - But How Long ? on: September 20, 2023, 08:37:53 PM
Ledger and Trezor hardware wallets, which save all now can be hacked in the future via viruses and malware. So if admin will not wake up and make the cybersecurity board, forum member BTC and altcoin wallets, also hardware wallets are not safe.
When I joined this forum, I learned more about how to avoid malware. If you are on this forum and reading through new topics often, you will see threads that are helpful about security and privacy. I do not think we need a board like cybersecurity before we should also learn more about how to avoid hackers.

On the other thread that BenCodie created, it is more about implying that there are many discussions/threads about cybersecurity on this forum and that a board can be created for it, which is right in my opinion. But without such board, cybersecurity discussions are still seen on this forum.

I am not implying that we do not need cybersecurity board, there are many threads that supposed to be on cybersecurity board, but for you to imply that without the board, that people's wallet will be hacked, that is wrong. Even if theymos created the board today, that does not mean some people will not be careless. We do not have cybersecurity board but we are still so much discussing about how to avoid hackers and how to have privacy.
14  Local / Nigeria (Naija) / Re: How does bitcoin benefit the common people. on: September 20, 2023, 02:50:22 PM
I like people to read insightfully, and if I were you I would surely have known this is the summary of part of what the OP states.
No. OP is not relating it to economy just as I stated before, he is relating it to individual and fiat.

Bitcoin is an asset just like any other asset, it has its earning and losing seasons, and it can never take the place of fiat and banks and cannot add to any economy due to its privacy and decentralized nature.
Bitcoin and cryptocurrencies can add to the economy. It is Nigeria government that do not understand how it supposed to be.  I expected our government to have targeted crypto exchanges, other centralized crypto platforms and individual to start paying tax. Binance, Bybit and other exchanges are only making profit from Nigerians but the government do not make profit from them. They can even enforce all these exchanges and centralized services to have offices in Nigeria and employ Nigerians. Instead of the CBN to put light into this, it put more darkness when Nigerians continue to adopt bitcoin and other cryptocurrencies.

Indirectly, bitcoin and other cryptocurrencies will add to the economy. Example is if I invested $1000 in bitcoin and it increyase to $10000, my spending will increase. If the spending of people increase, that means more production. It is left for Nigerians government to look for ways that they will export than importing. If not bitcoin, there will not be anything called Bitcointalk, even if what we contribute on this forum is negligible, it is still part of increasing production as we earn money to spend more. It is not only this forum, I pointed to this because there are many ways that Nigerians are earning with bitcoin and cryptocurrencies in general, which will lead to increasing production in the country.

As for fiat, it is one of the ways people are scammed by the government. The government created a currency from nothing it is backed with and they are manipulating it. They are manipulating naira by devaluing it over time. If Nigerians are embracing bitcoin and other cryptocurrencies like stable coins as a hedge against inflation, I do not see nothing better than that. Only what crypto enthusiasts will see useful about naira is to convert your coin to fiat and spend it immediately. Nigerians on this forum will be crypto enthusiasts because naira does not worth holding.
15  Local / Nigeria (Naija) / Re: How does bitcoin benefit the common people. on: September 20, 2023, 01:19:26 PM
But will Bitcoin save the economy...? Heck No.
I did not see anywhere OP included anything like this on the OP.

Your explanation is excellent but I do not think that OP is that baised about what he posted about bitcoin except mentioning that bitcoin can give financial freedom which is not completely true. What he supposed to also include is that people should make research before involving themselves in anything related to bitcoin for them not to be disappointed during bear market, although all-time-high is promising.

It doesn't provide complete security or financial freedom and can never replace traditional banking or be the viable problem-solving attributes you ascribed to it.
Bitcoin is just an alternative and only the people that knows about it are going for it while some people can leave their money in fiat and depreciate in value over time, but which is not advisable.

And as a matter of fact, Bitcoin needs fiats and not the other way around.
Bitcoin needs fiat because without the inferior (fiat), there will not be the superior (bitcoin). If people do not see their wealth growing in bitcoin as they are estimating it with fiat, how will they invest in bitcoin? They might not invest.
16  Bitcoin / Bitcoin Technical Support / Re: Effective & safe recovery of a wallet with multiple accounts on: September 20, 2023, 12:42:37 PM
I already have a passphrase, so I would need to add another one, which again adds extra hassle in backing up everything.
Exactly. If you use passphrase already, you can decided to add another passphrase to the seed phrase which will generate different wallet (keys and addresses) entirely. You can use more passphrase with the seed phrase and each will be generating different keys and addresses. All you have to do is to backup your passphrase differently in different locations and your seed phrase should be backed up differently as well. Having two strong passphrase and a seed phrase should not be hard for different location backup for each.
17  Bitcoin / Bitcoin Technical Support / Re: Effective & safe recovery of a wallet with multiple accounts on: September 20, 2023, 12:33:25 PM
1. How can I know how many accounts I have ever created - funded? For example, I know that I have 2 accounts, but what if I actually had a 3rd one and I have forgotten about it? What if I gave my seed phrase to my child and told them to recover it? How could they know how many accounts have addresses that have been funded?
You have to let them know about it. You can use practical example.

2. Do you know any way to "note" or "backup" safely how many accounts have been created using my recovery phrase?
It is you that should remember it.

The only wallet that I noticed this is the non recommendable Coinomi which is close source. Most wallets do not allow it as they will allow you to create/use another seed phrase instead which is recommended.

I prefer to use another seed phrase instead.

If you want to use the same seed phrase, use passphrase to extend the seed phrase to generate you another different wallet (keys and addresses) entirely. If you lose your passphrase, it is also like you lose your seed phrase because you will need both (seed phrase and passphrase) to access your coins.
18  Bitcoin / Bitcoin Technical Support / Re: What happened to keeping all my bitcoin in same address? Now I pay insane fees?! on: September 20, 2023, 09:08:32 AM
Just like other have commented already, there is no changes and that is how it has been before. Learn more about UTXO.

Let me assume that three people send bitcoin to the same segwit addresses at different times, the same fee will be paid if three people send bitcoin to three different addresses if you want to spend the three UTXO from the same addresses or different addresses.

If you know you have high inputs, you can always consolidate it when you know the mempool is less congested. By consolidating many UTXO counts into one, that will help to save fee anytime you want to make transaction next time.

If the transaction fee is very high, and you are using native segwit address that start with bc1q, you can include 3 inputs and 1 output and use ViaBTC free accelerator to accelerate it using the txid. If it is pay-to-taproot, you can include 4 inputs and 1 output and use ViaBTC free accelerator to accelerate the transaction.

For coin control, use Electrum, Sparrow or Bluewallet.

Transaction to be accelerated on ViaBTC should be at least 10 sat/byte in fee. Those wallets mentioned support RBF which you can use to pump the fee up to 10 sat/vbyte. You can use blockchain explorer to know the fee rate of your transaction in sat/byte (not sat/vbyte).

The blockchain explorer:

While using the free accelerator, do not let the inputs in bc1q address to be more than 3 and the outputs should be 1. For bc1p, inputs should be 4 or less whiles outputs should be 1. Also provided that you are sending to the same address type.

You can check the transaction size (not vsize) yourself:
19  Bitcoin / Electrum / Re: electrum version / ledger on: September 19, 2023, 07:04:17 PM
If it is Electrum seed phrase, you have to download Electrum.
[GUIDE] How to Safely Download and Verify Electrum [Guide]

You can use Electrum on an airgapped device:

If it is BIP39 seed phrase, use Sparrow wallet just like Electrum:
20  Bitcoin / Wallet software / Re: Unstoppable wallet {User experiences} on: September 19, 2023, 06:54:16 PM
In the SEAMLESS DONATIONS section of the version 0.35 update highlights, what does this mean?
On version 0.34.1. If you click on donate, you will see three addresses (bitcoin, ethereum and binance smart chain address) that you can copy and use for donation.

On version 0.35. If you click on donate, you will see the lists of coins that you enabled and the amount each has and you can click on any coin and proceed to donate directly.
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