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Inflation has been one of the reasons for the adoption of bitcoin and other cryptocurrencies in Nigeria which is the first reason stated as the exchange rate in the OP, but the second main reason cryptocurrencies is well adopted in Nigeria is that people see it as an investment. If you invest in bitcoin, that the price will increase and you will make money from it.
Although, more people may know about cryptocurrencies during EndSARs, but I will not state it as one of the reasons. Before EndSARs, CBN has known that the adoption is increasing already and they use EndSARs to make many people to be silent and not against them (the CBN) after they banned cryptocurrencies. Without EndSARs, inflation and bitcoin as an investment means has been the reasons for the adoption. Although, there are other reasons but which I do not think are worth mentioning.
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Another security challenge is, if the node you connect is a single node and not multiple nodes that SPV clients connect to then it can pose risk of feeding you with wrong information or data when you sync if it is broken.
Connecting to a single server manually or setting it as automatic to connect to any available servers has no security challenges. Nodes information are valid. The only problem I have noticed if you connect to a single server is that the server may not be available and that will not make your wallet synchronized with the blockchain. If that is what you meant, you will know on your wallet that the wallet is not synchronizing with the blockchain. |
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One of the most important thing that parents can help children for is to educate them. To do that, it starts from home, but also going to school. This is even not about being a first class graduate, but about going to school and be educated. It gives self-esteem and feeling of being among your mates confidently. There should not be any reason to compare education and having a legendary rank on this forum together. They are different things. It would be easy for a first class graduate to know this forum, register and also become a legendary.
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I wrote words in the wrong order before and at first glance it looked right. Next time I had to restore my Seed from my paper, it said it was wrong. I got desperate for days, until I tried to swap the word with the previous and luckily it did work for me.
That is why I like wallet like Electrum. After the wallet has generated you the seed phrase, you still have to input it using the virtual keyboard that Electrum will display. That is enough to know that the seed phrase that you wrote down on a paper for backup is correct and not wrong. Some wallet do it in the lazy way. It is good to verify and make sure the seed phrase are correct. I have done the mistake on Electum but I was able to know after I was unable to fully setup the wallet What I normally do whenever I create a new seed is to snap it with another phone because I don't like stories that touches the heart as most times I normally create new seeds for several purposes so am always very careful with it. After snapping it then I write it down in my diary book and check very very carefully before I delete it from the phone though what I normally do most times is to rephrase the whole words in case someone incidentally gets access to my diary book and sees it so that's the safe way I normally do in other to protect my seeds.
Zaguru12 has corrected this already. It is not good to take the screenshot of your seed phrase. Just use a good wallet like Electrum and make your backup offline. Do not also rephrase your seed phrase, you can just extend it with passphrase. With passphrase, the wallet will generate different keys and addresses. Anyone that will need to access the wallet needs the passphrase. Backup your seed phrase and passphrase differently in different locations. Having like two or three backups each. |
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You mean wallets that are depending on central servers to synchronize. Your IP addresses and wallet addresses can be known by the central servers. Although, if you use Tor with the wallet, the IP address is not known but still your bitcoin addresses would be known. That is why people that wants privacy are advised to run their own node with Tor instead.
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I will not have to quote all these, but know that you are very wrong. 1. Predictable BTC loss is destabilizing. Every transaction includes risk of loss, meaning a greater portion of supply that is immobile will grow. No, that's not solved with divisibility. The world cannot have confidence trading it's wealth in 1 million BTC with 20 million sitting on chain immobile. If another million can suddenly wake up because an unknown pool has been hoarding them, it wrecks the market.
If it is scarce, the price will increase. Bitcoin can exist in satoshi which is the small unit. 4. It's a piece of code. It's not actual gold, AU, which is fixed on the Periodic Table as an element. There is no "AU.version3.45", and you can't copy it and turn it into ButtCoin.v2
Bitcoin is not gold. It performs better than gold since when it was created. 5. BTC has value only in it's "potential" - which creates real transient value because people want it - but that only runs until is potential declines. It's a fad. Like any pump and dump, the profit is in the sales.
Bitcoin marketcap keeps increasing in long term. 6. BTC's real profitability is through market manipulation
Bitcoin long terms holders are making profit. Bitcoin has a market worth of over $860 billion presently. If you are saying the bitcoin market is manipulated, then you are saying what you do not know about. |
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This is serious. I think the contest is just for fun and not to be taken serious like that. I have been expecting the result of the contest since January 1st, but up until now, nothing has happened. This contest is not supposed to cause any problems. I have never participated in any contest before, but I decided to participate in this just because its in my local board and not because of the reward. I believe most of us that participated in the contest are more than the reward, most of us in signature are more than 10 dollars and 10 merits, so its not something that should be taken seriously. Even if you are not among the people selected as the winners, you should be proud of yourself because you participated in the contest, and I am sure everyone in this local board appreciates everyone that participated in the contest.
So its taken longer than expected, just announce the winner and let everyone move on. Not everyone participated because of the reward. I took my time to make the design because I noticed the turnout of the contest was poor, but after posting my design, I started seeing different designs.
You are not wrong. Sorry for the delay. You should all be patient. It should not be longer than expected anymore. |
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You got it all wrong, the Bitcoin symbol BTC is all that matters and not the yellow canvas around it. If you've been following up some of the arts work or Bitcoin pizza competition I doubt you will say this.
Like I have posted before, bitcoin images and bitcoin symbol/logo are not the same. The letter B is tilted at a 14% angle. And who told you guys that the BTC logo must be placed at 14 degree on a canvas?
You do not even know bitcoin logo history but prefer to argue. Read the link that I posted above. I do not have to repeat it. Also click on the link on the quote below to know where the third bitcoin logo which is the actual bitcoin logo originated from. Bitcoin Logo
Rotation: Clockwise 14%
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I do not think there is any need for this. If you are a newbie, read than you post. If you want to post, make it meaningful, helpful and useful. If your post is helpful or useful, you will not find it difficult on this forum. Which means learn from what people are posting and also make more research about it. Read bitcoin and other crypto news and know what is going on in about bitcoin in general. There are also other boards like economics and some others that may be interesting to you. You may find this helpful: Useful information for Nigerian newbies |
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It is worth knowing that Bet9ja is not gambling but a gambling site located in Nigeria. From my own side I go talk say the two of them na actually prediction
Trading means buying and selling. Gambling is the prediction of games or matches. In Forex, although you will predict but you buy and sell. Traders will want to buy at lower price and sell at higher price. Or when they know the market is going down, they open a short position. When they also predict the market is going up, they open a long position. That is not the same as gambling. But some people call trading as gambling because of the risks. Trading is as risky as gambling. But how you use them to make money is different. Gambling do not requires indicators and technical analyses but trading does. |
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Hello dear friends, I am introducing a new cryptocurrency exchange called Cryptomi Exchange. I would like to advertise in your country. Can anyone help us?
If you want to advertise in Nigeria, you can make use of a news site for the advertising. The one I can recommend among them which is mostly visited by people in Nigeria is Punch news. I think I can remember that Remitano has used Punch news for advertisement before and some crypto projects has also used it for advertising before. If you are looking for a local forum, https://www.nairaland.com/ is the most visited forum in Nigeria. But you will need to improve your site. Also I do not think you are yet serious about your business if truly you have setup an exchange. You supposed to have people that would be given marketing job that can help you to know how your services can be known in places that interests you. |
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Don't you know Peter Schiff? What he believes more in is gold. If he talks about gold, he talks good about it. Gold price in 2012 got to $1790. Gold highest price since then till now which was this year is $2064. Bitcoin keep appreciating in price and performed better than gold as these man is saying that bitcoin is worthless and its price will later fall to zero.
I have read two news recently that this man said spot bitcoin ETF approval in United States may first increase the price but later that bitcoin price will fall and that people will lose. It is not surprising to hear something like that from a bitcoin critic.
Peter Schiff is a bitcoin critic. He has been unable to analyze how bitcoin halving can lead to all-time-high which occured in the past, but he likes saying something bad about bitcoin in all his interviews. But what he has said about bitcoin in the past which was bad has all be opposite of what that later happened.
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3. Bitcoin is practically referred to as a commodity, which shows similar characteristics to gold. The process of acquiring either of them will definitely lead to a reduction in supply; i.e., the more we mine, the more they are reduced.
At least for now bitcoin and gold supply have different characteristics. Since bitcoin has been created, the supply is meant to be 21 million. Which means after the whole 21 million BTC has been mined, there will no more be new BTC that would be introduced into the calculation. But check this about gold: Major gold deposits discovered in UgandaOn June 7 2022, approximately 31 million metric tonnes of gold was declared by their president to have been discovered in the country. There are many of this kind of news that a country will discover gold or more gold deposit. Which means the supply are increasing. These are the gold on the land surface. There are still gold in the earth crust and beneath the ocean but which modern day technology can not mine. Also there are gold deposit outside the earth on other planets. Also can be asteroids that consist of gold. Example is Psyche 16. We do not know how advance the world would be in some centuries to this time and we can not just conclude that gold deposit is limited. |
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There is also a lot of speculation that this is confirmation that bitcoin ETF applications will be rejected again?
This is what caused the recent price that plummeted. We do not know which one would be true, but SEC was showing signs that Spot ETF for bitcoin would be approved until the recent analysts speculating what could make the price of bitcoin to decrease. People should know that as analysts can be right, they can also be wrong. But isn't it time to add more Bitcoin, as the price is at a considerable discount tonight? Grin
If you want to buy and not sell for many months, this is the time to accumulate more. People that are using DCA can also still continue to buy. What that is most important is the halving and the expected all-time-high. |
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Questions
1. With the large population of miners around the world, could every miner earn a reward at least once a month?
2. If it's impossible for every miner to earn at least once a month, does that mean that mining is not a profitable business?
You can be a solo miner or join a mining pool. Solo miner If you are a solo miner, that means if you mine a block, you will earn the mining reward alone. But the chance will be small if you do not have enough money to get yourself miners and setup mining farms. To be a solo miner may not be gone for because even you need huge amount of money to buy miners to join a mining pool, not to talk of being a solo miner and mining alone. But if you are rich enough like a multimillionaire, you may decide to begin a mining business without joining any mining pool. You can even become a mining pool. Joining a mining pool If you join a mining pool, you will use your miner to contribute to the hash rates that the mining pools are generating. There are other miners like you that also join the pool. The mining reward would be distributed to miners that contribute to the hashrates the pool is generating. Miners today are not solo miners but prefer to join a mining pool and earn a steady reward because mining pool mine new block often and distribute the reward to miners that join their pool in accordance to the hashrates they are contributing. Some of the pools have a mining calculator or you can get yourself a mining calculator online to calculate if mining would be profitable for you. You will be able to also use the calculator to calculate the electricity cost. Mining is still profitable if you get the right miners and also if you are in a country with cheap electricity. |
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I disagree with you on this. I see a user, Obim34, who has the correct bitcoin logo as well. With the correct color and the 14-degree angle,. Although i see that he included other altcoin logos as well, I do not see any rules that say the altcoin logo should not be included. I am not a judge, am only concerned that things should be properly looked into. That is true. He also included the correct bitcoin logo. Although I am not expecting anyone to include altcoins logo along. Take note that my post is not about judging yet, but letting people to know that not all bitcoin images they see online are bitcoin logos. This can be helpful in case of next time. There is only one bitcoin logo and it is not the same as bitcoin images. |
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One of the rules: Rules
5. Art should contain a Bitcoin logo.
Most arts contain bitcoin pictures and not logo. This is the original bitcoin logo:  Stable090 gets it but I do not know where he gets that colour which makes it not that perfect as it goes down, changing from orange. Although, the colour is very similar to the correct bitcoin logo. He gets the 14 degree angle. Mayor of ogba is the only art that included the correct bitcoin logo. He gets the 14 degree angle and also used the orange colour. I like that fact that he did not included altcoins logo along as well. Although, Samlucky O included one correct and two wrong bitcoin logos. This makes me see his art like other ones that included the wrong bitcoin logo, aside from the fact that other arts of some people are better.
If you want to read about the history of bitcoin logo: https://www.zenbusiness.com/blog/bitcoin-logo/ |
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Some people may think that incognito mode can help them not to be traced, but that is not what incognito mode on browsers are. Incognito is just no leaving a trace of your browsing history on that your browser. Everything about it is traceable online. Your ISP can know the sites that you are visiting. Also the site that you are visiting can know a lot of information about you. If you want to have privacy while browsing, you will first need to use a better search engine like Duckduckgo and not using the ones like Google. Also using Tor and Orbot (on mobile) will be very important to connect online.
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Every node has its own mempool and the purging rate also varies according to that, the purge value we see on explorers are for the default size but as far as I see, ViaBTC includes the TXs above 23sat/vbyte in their blocks constantly so I assume that could be their purge rate or I may be wrong but ViaBtc always includes the submitted TXs in their next blocks or atleast in the two and if it's taking more than that then the TX may not be submitted for acceleration.
If you noticed on ViaBTC that the 100 submission in an hour is not used up very fast and taking many minutes or available all through the hour for people to continue to submit their unconfirmed transaction's txid, that is when this happens, in a way it may take 10 hours or more before ViaBTC will later include the transaction into a block after many blocks have been mined by the mining pool (ViaBTC) but not including the transaction as it is on a queue. The only thing you can do to still know that your transaction will likely still be accelerated if not mined in the next block mined by ViaBTC in this case is to what what I have posted. |
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Insured BTC wallet? Insured against hackers? How can I trust this service? Domain:
bankofblockchain.us
Registrar:
Name.com, Inc.
Registered On:
2023-12-06
Expires On:
2024-12-06
Updated On:
2023-12-11 New domain and then they already have 20k users with 230m total currency and total sponsors amount of 97b.  Sorry but I can't trust the third party with my coins |
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