The thread was kept inactive as people are not posting there but it would have been better if people are posting on the thread. Since we started that thread, BTC/NGN speculation, the price of bitcoin has been increasing. Naira has been getting devalued all the time and has been a bad asset to hold in long term. Even if bitcoin price is not increasing, it is still increasing against naira due to inflation in Nigeria. Some people do not even know about the thread because it is not active. It would be good if we can make the thread to become alive once again. |
|
|
|
My naija people I hail una, I hope say di dollar to naira rate wey de make our beloved naira to devalue everyday no too affect una Bitcoin journey to bull run.
The only people that this will affect are those that are dependent. I mean the salary earners. Provided if there boss or government do not increase their salary. As for people that are buying and selling goods and services, they would have increased the prices of their goods and services in a way it would blend with how US dollar is increasing. Many people among us are earning more in US dollar rate. So I do not see much problem about this. As for the second thing that I want to included in this post as been what I have just posted few minutes ago included in my post and I think it would be better for me to just quote myself regarding it. My advice is not even about dollar to a naira prediction because both are not appreciative in nature but design to scam those that are holding them. If you want to hold, it is better you go for an appreciative asset like bitcoin. We have not gotten to all-time-high and the six figures. Both would be achieved between this year and next year.
Holding right now and not selling would truly give positive ROI in some months to this time. |
|
|
|
As for you question, why no just specify the time. Example is to ask the question that what would be the price of dollar to bitcoin before the end of this year. You can not ask the question in an indefinite way. Before the end of this year, I am expecting at least 1 dollar to be 2000 to naira. But at most, it should not be more than 2500. Drop your predictions for the value of Naira against dollar?
This is not right because I think this is not the question that you want to ask. It is dollar against naira and not naira against dollar. There are differences between USD/NGN and NGN/USD. You are asking about USD/NGN pair and not the other.
My advice is not even about dollar to a naira prediction because both are not appreciative in nature but design to scam those that are holding them. If you want to hold, it is better you go for an appreciative asset like bitcoin. We have not gotten to all-time-high and the six figures. Both would be achieved between this year and next year. |
|
|
|
Using this examples, i want to conclude this topic saying that both 12 and 24 SP words are secure, but 24 is way more, in one hand we have the dilema of scrambling the words and having the 24 SP its would be imposible to recover, although the 12 SP its definetly more ''easy'' or '' lot less difficult'' than the 24 one. My suggestion is to pick the 24 SP and not scrambling the words , i hope you learned something.
24 woryd seed phrases are not more secure than 12 word seed phrases. 24 words seed phrases can be impossible to rearrange if the words are not in order while there is possibility that 12 word seed phrase can be rearranged. But that does not mean 24 words seed phrases are more secure. If an attacker sees your seed phrase, the chance that the seed phrase are in order is higher as usual and the coins can be stolen after the wallet has been compromised. Also not recommended to disarrange a 24 word seed phrase because it can not be rearranged. 12 words seed phrases have 128 bits of security just as bitcoin private key which makes 24 word seed phrase to also have 128 bit of security because private key bit of security is not more than 128. |
|
|
|
I bring una good news from OKX Wallet
OKX is not a wallet but an exchange. You can just call it OKX. I can still remember that there was a post made about the way to get your plastic NIN very easily and with the help of that post i was able to get my plastic ID card, it cost me ₦1000 then but with the way things get cost in the country now i believe to print a copy of it will cost more now. With your plastic card you can easily get your account verified.
The first topic about it was in 2021 or 2022 on this long thread and I was unable to see it. But I think you are referring to this thread: How to convert your NIN slip to plastic card (useful for xchange kyc and others)It was not long that i verified my OKX account using my plastic card i think it was like 2 weeks ago and then there was no any option where i could verify my account using BVN. Just like Binance they also want to help Nigerians and it must be why tgey added BVN option.
There are some exchanges that makes Nigerians to get verified using BVN. I saw it on Bybit when they made KYC mandatory. |
|
|
|
Firstly I don't get what you're trying to say and I wished I understood what the op is trying to create right now, people should understand the difference between creating topic for discussion and informing the public about the current situation, I wished the op would have written something better like after listing the problems try and create something new like a solution for everyone to learn.
What I meant is that you people have no right to create a post that newbie is painting the country bad when the economy is not good. Go to the thread and make valid points instead of bringing it up on the local board on another thread. You people can also talk about the solutions. I do not have time to post anymore on this thread that is not useful for me to discuss. This thread is not helpful. Go there and make useful posts that are helpful. |
|
|
|
Freedom of speech shouldn't be a medium for someone to speak outside common sense and rational thinking. We have a local board, what sense does it make for him to go to the wider community to advertise our weakness and convince people of our scamming prospects?. Freedom of speech is good, but making others look stupid after you must have expressed yourself is irrational. We are here fighting for recognition in the forum and to have a moderator and merrit sources and someone from within us is out there convincing the world that we are all scammers, how they wan take us serious?
Know that we have forum recognition. What that matters that gives recognition on this forum is your posting quality and not how bad your country is. Do not praise Nigeria as if there are no scammers. The country economy is bad. Lack of employment makes many youth to take cyber criminal activities as work. The guy is not wrong at all. Can you not even see what is happening internally in Nigeria now. There is something wrong internally and externally, as long as people wants to make money. You see the high rate of kidnapping, all for a means to make money. Do not say you want forum recognition that people should not have freedom to post what is going on in their country. If you think that he is wrong, go and post there and correct him like I have posted before. And in fact, you have nothing to correct than the world itself cruel. The economy was bad, it got worse, scammers increased in number. That is not wrong. Person when get sense suppose understand the kind thing when suppose de come from our end considering the bad reputation we don get already but some people no de ever gee get sense. Are you trying to tell me that we are the worse nation in terms of corruption and cyber crime? So many countries de when de run crazy things on the low but no body de hear am because them no de too hype am. He is only talking about what have been the cause of the high cyber criminal activities in Nigeria. And from what I understand from his post is that many Nigerians are suffering due to bad economy and later got no option. |
|
|
|
What gives better security is always any offline events, if you back up your seed phrases offline like using the crypto steel [4] type of backup you have more security than back up your recovery seed phrases online even with encryption.
Even using something similar to encryption which is word extension can make the backup very secure and no need to depend on encryption. Also as the wallet is on airgapped computer, alternative backup like encrypting the seed phrase or the wallet file on a new and yet formated USB stick is also an option. There are 100% ways to security and safety if you wish for one as long as it is bitcoin. |
|
|
|
I also reported all his topics that he created today except the first one. All that I reported have been deleted. Aside from the tags that appears red on his profile are their no other means of stopping him from posting those garbage’s?
There is nothing that can be done. It would be good for a moderator to give such people a warning if creating same topics like this at the same time, else temporary ban. Although, if I see such topics, I do report them as soon as possible and soon it would be deleted. |
|
|
|
https://x.com/akinalabi/status/1758167778605838668?s=20This would likely be a misconception and not entirely true. I think Oloye Akin Alabi is the founder of Nairabet.com, a common betting site in Nigeria which was the first to exist in the country. So the reason he brought that to Twitter as soon as possible to let gamblers know that gambling will not be banned in Nigeria.
|
|
|
|
If you earn in dollar, you do not really benefit from the US dollar price increase as naira is decline in price. Let me explain. If you are collecting salary in Nigeria, your boss may take time before increasing your salary. This is a disadvantage. But later the salary would be increased. If you are a seller or providing a service, as things are getting cost, you will increase the price of what you are selling or the service that you are providing and you will not lose if you are smart. If you earn in dollar, the dollar price is increasing but the goods and services costs are increasing. I get friends wey dey earn $200,000 weekly
This is not possible. Probably you mistyped this figure. |
|
|
|
Good advice. Most analysts dem talk sey once Bitcoin cross $51k and stabilize above am, bull run don start be dat. But for someone like me, na last quarters of 2023 bull run start for my eyes.
If you should take a look at it very well, bullrun started in January 1st 2023. At the time, bitcoin was around $16500, 10 months were green candles while just two months with red candles which were even mild. Bitcoin got to $44700 in December 2023. Just that the bull run has continued this year. |
|
|
|
Let people have freedom of speech on this forum. Because what you think is against what another person thinks, that does not mean you should be annoyed. Correct him with proves and let the person learn. One lesson in life, you can not always be right. this go be the last time I go talk this thing, after this na reporting I go start to dy do,
This is not the kind of post to report. According to many articles online since some years ago, Nigeria has always been the first. This is an example: The top 10 internet scamming countries in the world in 2023 are enlisted in this articleMany years ago, developed countries like US has been on the top. Also still among the first ten presently. |
|
|
|
Imagine there is a Trojan on your desktop or cell phone that has been programmed to detect recovery seeds, WIF private keys, extended private keys or any sensitive data that allows partial or full access to your funds in a deterministic wallet.
How can we be sure that these things are not monitoring your clipboard, your keyboard when you type totally random words that follow a pattern like 12 to 24 words? Or a screenlogger that takes a screenshot when it detects a seed on the screen and instantly sends it straight to the attacker's server? We know that it is possible to develop this.
By avoiding malware completely. Example is the use of a cold wallet like wallet on airgapped device that pooya87 has already talked about. If the wallet remains on the airgapped device and the airgapped device remain airgapped, no malware can be able to steal from such wallet. I always thought about this when creating my wallets, I know you will answer that an HW is the best option in this case, yes I know that too.
Due to privacy reasons, and the safety of wallet on airgapped device which is equivalent to hardware wallet, I will recommend airgapped device. What that is needed is for the person that wants to use it is to learn about it. It is the best for someone that wants to hold just bitcoin and no altcoin. He is wrong. Seed phrase are secure because no one can steal your coins unless the seed phrase or part of the seed phrase is seen. If you are concerned about possible offline attack, you can use passphrase to extend the word. If the passphrase is lost, just like the seed phrase, the coins will be lost. |
|
|
|
Let us assume it is segwit address (bc1q). Scenario 1: I have 3 UTXOs and I make 3 transactions out of them.
Each will have vbyte of 110 which is 330 for the three transactions. Scenario 2: I have 3 UTXOs and I consolidate them to 1 transaction.
It will have a vbyte of 246 in total. You can also play around with this: https://jlopp.github.io/bitcoin-transaction-size-calculator/ |
|
|
|
I switched from wallet because I wanted to collect my forks and I did collect those. Only I can't remember which wallet I placed my btc. I have the computer still in place where I did everything on. I just need remember where to search for I probably hidden the seed phrase on the computer.
The best is to backup your seed phrase on offline, like on a paper or on a steel or titanium sheet. Do not backup your seed phrase online or on a computer or mobile device. This is for security reasons. You saved the seed phrase on a computer? You can research about data recovery tools if any of it can be of help. This can help recover deleted files on computer and mobile devices. |
|
|
|
|
You do not need to know the name of the noncustodial wallet if you have the seed phrase. I mean BIP39 seed phrase. You can use it to access the wallet on any BIP39 supported wallet.
Or it is the wallet file that you have. What is the file name? You will need the wallet password for the recovery if encrypted.
|
|
|
|
|
You are welcome back and nice seeing you posting on this forum again. But do not make the mistake that you made that got you banned. What is the benefit/usefulness of this thread? Nothing.
|
|
|
|
|
Op can mean original poster, or original post (which means topic that begins a thread). It can also be called opening post. You will still understand that OP is used to refer to the person that starts a thread with a topic, or referring to the thread the person started.
|
|
|
|
|
Show Posts
