Is there something they are not telling us? Could it be that he is literally importing an already refined product and claims it is been refined there in his refinery?
Ideally there shouldn’t even be a need for Dangote refinery to even import crude oil from other countries to refine in the first place.
Crude oil production in Nigeria decreased. Nigeria that was the highest producer become the second to Libya. Libya has emerged as the highest crude oil producer in Africa following the drop of Nigeria's output by 6.8 per cent to 1.23 million barrels per day in March 2024, from 1.32 bpd in February 2024. One of the reasons is because of crude oil production challenges in Nigeria. Maybe these are also part of the reasons: https://www.nairaland.com/7989514/5-reasons-aliko-dangote-sourcing |
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You are running a full node and you are asking about Bitcoin Core. I do not think you are telling the truth. Even if you are running an Electrum server or you are using wallet like Armory, you would have known what Bitcoin Core is before running a node.
Ledger Nano is not recommendable if you care about your privacy and if you do not want to share your seed phrase with another party. They will only give you a way to do that instead of them advising against something like it. The wallet secure element is close source.
For a hardware wallet, you can go for Passport. If you need multicoin wallet, you can go for Trezor.
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The scammers had busy spamming this forum with scam recovery service posts but moderators are deleting his scam posts. Do not fall for such a scam recovery service.
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Your first question is basically what I am asking our dearest members Huh Any ideas...If by proof you meant the keys etc. then yes that it is a challenge, but was hoping for some creative thoughts Smiley
There can not be any creative thought about this that can be related to how you can retrieve your seed phrase or keys that can let you have access to your coins. Ones the seed phrase or the private key is not accessible again but lost, your coin has already been lost also. |
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Do you think this can happen to other software wallets ? Especially Electrum ?
Government can not take down Electrum because Electrum is only a wallet and not centralized in any way than its users using central server to connect to the blockchain. In short, Electrum is not aiming for money in a centralized way that can make government to take it down. It is not even a mixer. Not having anything that can make it to be the government target. |
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I am expecting what to decentralized to have many nodes instead of central server that its developers are using to make money. You have stated good examples like the Torrent, Tor and the bitcoin networks (nodes) excluding the mining pools.
Mining pool is another problem that bitcoin developers failed to avoid. There should be something like ASIC resistant (and even if possible GPU resistant) means in the protocol. Just CPU is enough in a way it can not turn to a mining pool. Bitcoin mining would have been decentralized than this.
How about decentralized exchanges like Bisq? I do not know how truly the exchange is. Is it using centralized server or through decentralized nodes? There are many things that I thought to be decentralized before but later notice they are not decentralized but centralized in one way or the other.
The web3 that was proposed to be decentralized was also later done in a way that it is centralized.
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Do you know that Dangote refinery import crude oil from the US? I hope you know also that the CBN tried its best to appreciate naira value but it is like a running water that they to make it stop running but building pressure in order to force itself out. Dollar was below ₦1080 in parallel market some days ago but it is now over ₦1300. Dangote has been unable pay PetroChina for the imported crude oil but delaying as the refinery has yet to issue a letter of credit to the Chinese trader. One source familiar with the matter said. PetroChina imported the two million barrels of crude oil from United States since March 28. Dangote refinery settle some deals with refined products but PetroChina only wants to accept United States dollar. Let me quote this: Two of the sources also told Reuters that the refinery has had difficulty accessing dollars through the Nigerian government, with the naira’s slide against the US dollar as global oil prices have risen straining Nigeria’s finances.
This is one of the ways to know that the price of naira supposed to have been depreciated than what it currently is. Or the government do not want Dangote refinery to be importing crude oil from outside Nigeria? |
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Why would a Nigerian needs US Facebook account? There are ways Nigerians can create such an account right from Nigeria. But if you travel to US you will still notice that some features you are seeing when you are in US when using US IP address is not there when you are in Nigeria.
Nigerians that needs it are for the purpose of scam.You can open Facebook account directly in Nigeria. Also that you can be looking for a way to scam a Nigerian here but using foreign Facebook account sales as an opportunity. Nigerians here should avoid someone like you.
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Secondly, don't read social media news, ever since I stopped their notifications on my device, I become more peaceful, because blogs and social media posts are almost 100% fake news and all attempt to raise unnecessary attention to their blogs and websites, so alot of fake news.
Is either you follow the official handle of the various government agencies to get updates directly or watch news this are the two ways to get real and authentic news this days.
The best is to follow the official handle. But official handle can be also fake. Although, not common but possible. Example is when United States SEC account on X was compromised with fake bitcoin spot ETF approval. Not only social media news can be fake, even those like Punch, The Nation and well reputed news can be fake. And do you know what is more frustrating? When the original news is out, or that it was fake news, you will see most of the news platforms not come up that the news is not true but fake. Deposit banks nodey deal with crypto related transactions for ages now so what's with these new directive again.
And Nigerians do not like to label their fiat/crypto transactions as 'for crypto purpose'. I do not know how the government will know all. With what has been going on, many people have been taught by Nigeria government and some regulators not to use the word crypto to label their bank transactions related to bitcoin and other cryptocurrencies. |
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So I have a concern about Trezor security. Are we sure the apps won't pass the seed to Trezor when it is connected to the Internet? Or apps couldn't read data from the Trezor?
I can not guarantee you that. The hardware wallets that you can think of not doing that but remain permanently offline with its seed phrase are airgapped hardware wallet like Passport. If you use QR code for making transaction with an airgapped hardware wallet, you will know yourself that no Internet connection with the hardware wallet and that the hardware wallet is not interacting with anything other than signing transaction. |
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Ok so there are 3 people, me, my friend A, and my friend B. Are you saying I could set up the BTC multisig such that A and B can approve transactions without me?
If it is 2-of-3. Yes. Two people among you three can make transaction on the wallet. Is it also true that if the public keys are initially set up for the multisig as [me,A,B] that each of A and B will need to input public keys in that order to successfully initiate the multisig on their end?
To initiate a transaction? If the wallet has already been set up, the multisig wallet has the 3 (you, A, B) public keys already. But just need any 2 signatures among you for transaction. |
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It is better you send the coins to an address that you generated on Coldcard. Online wallets are not as safe as cold wallet. If you import Sparrow seed phrase, it means the seed phrase was generated online and not safe like the one you generated offline.
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which wallet you recommend that support RBF
These are some wallets that support opt-in RBF: Bitcoin open source wallets that support replace-by-fee (RBF)If you are not a full node runner, I will advice you to use any of the wallets on the above link. I have used Electrum, Sparrow and Bluewallet. They are reputed and open source. If you are a full node runner, you can enable full RBF. Although, SPV wallets that look for nodes that support it should be able to double spend unconfirmed transaction with high fee also even if the transaction does not support opt-in RBF. is it possible to have a transaction confirmed in few sec
by putting the higher fee on the time
What BlackHatCoiner meant is that a transaction that is not confirmed can be double spent. A transaction can be confirmed within some seconds and it may take some minutes. It depends on the time you make the transaction, the fee rate that you used and the time the next block is mined. |
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What is an "exchange multisig" and what is a "custodian wallet"? I don't trust any centralized exchanges to hold my crypto.
I think he is referring to custodial wallet. Wallets that you have your private key and the full control. Is it true that I need to remember the order of signers for Electrum and Sparrow, and that I need all signers to approve the transaction (as opposed to m of n configuration)?
It is not opposed to m-of-n but in support. You will need your private key or seed phrase and the cosigner public keys to set up the wallet. The cosigners will need their own private key or seed phrase and your public key and other cosigner public key to set up their own wallet. Example is 2-of-3 multisig. It means 3 public keys are needed to set up the wallet. Your private key will generate your own public key for you and you will need 2 the other two cosigners public keys as they will need yours two set up the wallet. The 2 there means 2 out of the 3 cosigners signature are needed for making transaction. |
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I have noticed that many people among us prefer to also discuss on USD/NGN price speculation. Some people even prefer BTC/USD pair because they can easily know the price dollar to naira and bitcoin to dollar. So we can discuss about these two pairs now.
Despite all the dramas that were on news, I noticed that this thread has not be active as it was before. But I think if we discuss about USD/NGN also, here can be enliven again.
You can see the price of naira falling again. It fell below $1400 but now at $1357.
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You may not get any wallet that is multichain and having bitcoin multisig, but you can get multisig that has the features. You can go for Electrum or Sparrow wallet multisig.
I will advice you to deal with bitcoin separately from altcoins.
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EFCC said Court should disregard Tigran Gambaryan bail application You can read it in full: https://punchng.com/how-binance-executive-planned-prison-escape-applied-for-new-us-passport/Investigations by our correspondent revealed how Mr Gambaryan who is currently remanded in Kuje Correctional Facility, applied for a new United States of America passport, under the pretence that his seized passport was missing.
The Armenian-born Binance executive, Gambaryan who has both American and Armenian passports, told the US Embassy in Abuja that he lost his passport which is currently being held by the EFCC, impeccable anti-graft sources privy to the development but not authorised to speak, told The PUNCH on Wednesday.
Following the development, the EFCC has urged the Federal High Court sitting in Abuja to disregard Gambaryan’s bail application, while noting that the Armenian-American could flee from Nigeria like his Kenyan-British colleague, Nadeem Anjarwalla who fled to Kenya.
A source, who is privy to the investigations, revealed that “The second Binance executive, Tigran Gambaryan, who is currently remanded in Kuje prison, has planned to escape from the facility. He applied to the US embassy in Abuja to issue him a new Visa while lying that he lost his passport which was seized by the EFCC.”
Another source, who insisted on anonymity, noted that “Gambaryan could have escaped from Kuje if not for the fact that the US embassy flagged his request for a new passport. Fortunately, the US embassy immediately reached out to the EFFC, and the embassy was informed that he’s a criminal suspect whose case is currently in court for alleged money laundering – concealing the source of the $35,400, 000 generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity.”
If all these are true, I do not think Mr Gambaryan will be granted bail.
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The information I just saw on the internet now is quite different from what I am seeing here the one I saw just now is nigerias central bank to freeze bybit kucoin okx binance accounts is it what you mean? Correct me if am wrong @Charles tim. If it it is so I presume Nigeria government is one of the dumbest government ever. When I read through the link that you posted along, I noticed that it is the same thing. If you read it, the news is talking about central bank of Nigeria telling banks to put the bank account of those that are using the exchanges on post no dept if known. The CBN said that it is not true. |
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This is one significant draw back of closed source software while I don't think the open sources anti virus are better than the close source since majority tends to use the closed source Anti-Virus.
Anything close source software should not be trusted because you do not know what the code it is made up of. You do not know if the code has malware that its developers intentionally included before they are selling it or people downloading it. I do not think this should be about open or close source software but rather than not to be using or truth antivirus. Antimalware can not be trusted. The best you can do to your device is to avoid and making sure that malware will not get installed. This is better than to depend on antivirus or antimalware. What that can be done to avoid these malware are simple. Also that huge amount of coins should be stored on addresses of a cold wallet. |
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This is 2024 It's seem we had some early bull which was before the halving and even gave us new ATH but we are yet to see our bull run that was too early for a bull run maybe
If you check the past halvings and bullrun, you will notice that this time is still too early for bullrun to begin. Although, we can not say it is too early because the bull run can begin at anytime but with previous ones, it is still early. Bullrun can begin after many weeks or some months after halving but it is not even yet more than a week before the last halving which occured 5 days ago. |
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