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1  Bitcoin / Electrum / Re: High Fees on Electrum? Normal? on: Today at 08:05:45 AM



Do this one and make the fees lower to what I normally expected  Smiley Is this right? Set it to around 12sats since that is what's in the high priority of mempool.

With this, you should be able to make your transaction, the fee amount wouldn't be more than ~$2.1 or better still check mempool again if the fee rate has increased or decrease before you broadcast the transaction.

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Didn't know about his coins, static, add to control, etc. seems new to me, I usually just send it directly and the fees are lower and match on the mempool I didn't need to do this setup is it new?, thanks a lot!

As he said earlier, you don't really have to worry about this though, as your fee rate isn't that much but there is disadvantage in consolidating many inputs in single transaction because it's break your privacy completely and chain observers can easily guess the destination of transactions.

For next time, you can learn to use it so you don't have to spend all your inputs when you want to spend just a little amount of bitcoin, because by default electrum will spend everything(all inputs) and give you a change in another address.
2  Economy / Trading Discussion / Re: Where do whales trade/withdraw money? on: May 09, 2024, 07:00:15 PM
I probably shouldn't be asking this question because I am an old member of this forum but this recent article on Cointelegraph quickly inspired me to ask this question here today. Satoshi-era dormant Bitcoin address wakes up after 10 years.

Most of this old wallets can belong to anyone, Satoshi wasn't the only person that contributed to Bitcoin back in 2009-2010, there were lot of solo miners then and some contributors that mine Bitcoin then because even your laptop then can mine then but things have change now because of the difficulties and judging by those wallets, the person only sent Bitcoin from his legacy wallet addresses to a segwit once probably because he change wallet to a modern one.

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My questions are the following:
1. People who own hundreds and thousands of Bitcoins, where do they trade? It's risky to deposit such a high amount of coins on platforms like Binance and Coinbase because you aren't guaranteed that they won't block your account, even immediately after you deposit them. So where do they trade?

I'm not sure if you are taking relating to that coin but an exchange doesn't have that right to hold your account for having a large amount, you were verified by the way so they know where to take a lead if something is suspicious but I just think that it's not a good idea to always use centralized exchange for such, it breaks your privacy.

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2. How do they convert their Bitcoins into fiat? I know that years ago there were some bank transfer deals on this forum, I remember that Bitmain wanted to sell 10 Bitcoin or something like that here and they probably had a deal with a forum member but today when the price is so high, where do these big holders sell their coins and get fiat in their bank account? On traditional exchanges?

We have decentralized exchange like the hodlhodl that are still in existence today and are working perfectly, you can trade their but I think some people use OTC which is over the counter where you can do bulk of transaction buying and selling without going through the exchanges
3  Economy / Trading Discussion / Re: Why are people getting scared to Trade on: May 09, 2024, 06:30:26 PM
Why are people afraid to trade? This is something that is very difficult for the public to understand, the people themselves don't want to think about complicated things according to some of them, especially since the things they see are very gray to them, looking deeper into the matter of trading has many risks that will be discovered if we not being able to study this matter well, we must be able to understand and study everything that will happen, maybe it will happen, and it will definitely happen.

I do trade when I see some green flag on the market and what I will tell you is that many traders are afraid of trading because the first time expectations didn't go as the result they had and they gave up immediately. What many of them think is that they can just harvest money with their capital and continue like that but the moments they bites the dust most particularly people that has the habit of not using stop loss, they cease to trade again and the memory lives on.

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Trading is an activity that is difficult for most people to do and understand, not a few are successful in this trading, all of them learn the risks and profits quite well, that's why some of us don't want to know and it ends in failure which results in loss. money which we call capital in trading.
The point is that in doing something that has risks, if we succeed in doing it well then the profits we will get are not small, everything goes according to the process that we do well so the results will be good.

Most often the emotional handling of trading is the most hard part of most traders, they don't want to just see the lost and I don't understand why you want profit when you don't want to lose, it's normal to lose while trading but it's bad when it consistent, it shows that you don't know how to trade. It's better to understand trading well before even starting to avoid any discouragement later.
4  Economy / Economics / Re: Prioritizing strong foundation over quick gains on: May 09, 2024, 06:09:24 PM
Setting out strong foundation that's aimed at supporting long term gain is the best thing you can do for yourself and regardless of the fact that you might not be getting quick results like short term investors and individuals, the benefit that comes with long term investment in the right thing  will always supercede any quick gain that's mostly for short sighted individuals.

I wish this kinda advice age like win in crypto space but the truth is that these only matter if you are doing it for your own self, like trying to look at fundamentals before you invest but on wide scale today, a lot of people including the teams we are having today have gone wild. People now prioritize gain over working project that can open door for more opportunities in the future which can equally contribute to new price discovery.

For instance, take a peep at this X post from Binance account, they will be listing Notcoin, this coin or token rather was farm by people virtually just tapping their phone and now Binance is about to make it go big, a lot of people are going to cashout from this farming and airdrop and we have many projects that has been posting update on their github making something unique and even beg Binance for a place and other top tier exchanges but they don't just care because exchange prefer something that will bring them profits than the development of any projects.
5  Economy / Economics / Re: Banning of p2p on crypto apps in Nigeria on: May 08, 2024, 08:01:58 PM
I am so much concerned to why Nigerians government is banning the use of p2p on some crypto apps. To their allegations, it's said the crypto is affecting the currency and it also aids money laundry. Can anyone enlighten if what the government is doing is the right thing. The government left the banking sector and blames binance and other crypto companies.

When I first see this on Nairametrics, I wasn't move a bit because p2p didn't start today and wouldn't end tomorrow. We were doing p2p transactions right before the exchanges implementated it, even in this forum there were escrow here acting as the middle person to settle trade but centralized exchanges saw this opportunity as marketing strategies to draw customers by not charging any fees and it became so big as a multi billion dollars investment.

If the government decides to ban this, I think this will bring a rise in decentralized p2p where the government doesn't have anything to do with them, even this one they are threatening it's left for the centralized exchanges to agree with them or not but as long as the exchanges doesn't charge anything for those p2p transactions, the government has nothing on the them and beside, dollar to naira is now an open market which depend on the forces of demand and supply, I don't understand why the government is chasing shadows.
6  Bitcoin / Bitcoin Discussion / Re: Do you trust bitcoin holders? on: May 08, 2024, 07:55:32 PM
Since bitcoin promotes mostly anti-government, banks, etc.

I really hope you know what you are saying, when you say anti banks, I will agree with you fully but when you said Anti government, I will agree with you partially because there are some fiscal policies the government make that the banks are using to control the people and that's privacy concern, other than that Bitcoin is anti Bank and complete does the opposite of what Banks are doing and doesn't really have anything to with how governments does their things.

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I am wondering; Do you trust bitcoin holders?

Wait a minute, do you think that if the government own more 70% of the circulating supply, you think they will sell? Hell no, that's exactly what they want and they don't have it. If they have the opportunity to hold that amount, regulation of Bitcoin becomes simple to implement and miners wouldn't have choice than to agree with every of their decisions. Some of the seek road Bitcoin that were seize by US government aren't sold till today, don't you think they have plan for holding those Bitcoins.
7  Bitcoin / Bitcoin Discussion / Re: Regulations Not Working as Planned?? on: May 08, 2024, 07:32:04 PM
Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?

They might called it regulations but to me, I think they are trying to shadow Bitcoin, what makes Bitcoin a real Bitcoin apart from the label of been security. If I remember correctly, Bitcoin as security has been thrown, only majority of alts are been considered as securities and the SEC release a list of crypto they regarded as security but Ethereum and Bitcoin weren't included in that list but the government hunt down on some crypto platforms is making Bitcoin becoming a shadow.

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Does this prove that the blockchain tech is a success?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

There is no need for a soothsayer to tell if Bitcoin/blockchain tech is a success, it's has been launch since 2009 and has never for once go off, else they would have used that to ridicule it many times. However, the government is hunting down everything that is making Bitcoin decentralized, mixers are now hidding and can't work anymore, miners are been restricted and that undermine the security of Bitcoin, even the exchange both centralized and decentralized ones are not left out. This is not regulation but gradual degrading of Bitcoin from mainstream.
8  Bitcoin / Bitcoin Discussion / Re: Do not get discouraged by the current price of Bitcoin on: May 08, 2024, 07:12:54 PM
  When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently.

It's easier said than been done. Bitcoin is still trading slightly above $62k and that's below even all time high of the previous bull run so, anyone buying Bitcoin right now that's is not doing it for the long course would have to think twice about the market situation, you can't just jump into the market and buy, majority are even waiting for the market retracement before the bull run but anyone that is buying for long term wouldn't care about what will happen.

You also said $80k as a next target but have you check what we is that to an average retailer with $5k investment? The probability of making $2.5k from that $5k investment will be really tough and you know, you can't altcoins is something that can replicate that easily even though they're more riskier than Bitcoin, that's why people might not be going for that run of Bitcoin this time.
9  Economy / Gambling discussion / Re: UEFA Champions League 2023/24 Season on: May 07, 2024, 08:40:26 PM
The confidence at which Dortmund are playing tonight against PSG defiling the notion that the game is been played in Paris which should make PSG to have  dominated the game in the first 45mins played  but it's reverse from what were seeing. More of the pressing, and goal attempts are coming from the visitors.

I have given up on PSG on this one, they are my favorites on the other side because I want to seen PSG meet with Real Madrid in the final after they win Bayern Munich tomorrow but seem the only place they will meet is after he has been officially signed to Real Madrid, this should be a motivation for him to move to Real Madrid because with all this attempt and failure to win Champions League and yet it's not working for him and the club, it's time to move to the next chapter.

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I have the hunch that nothing out of the ordinary could happen if PSG fail to take dominant of the midfield to be able to control the game because that's one weak side of them in the first half, I hope they come back differently in the second half to win this game or else they get eliminated right in their own house.

This is 70+ minutes and they seem to dominate the game but the defensive formation is weakling, if not that the second goal was cancel, they would by now down with another goal with 2 goals conceded against Dortmund, this performance isn't what I really expected to he honest but it's what it's.
10  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: May 07, 2024, 08:18:24 PM
If I was Manchester United management, I would have fired ETH last night, I mean not like many games are left, and you could do with basically whoever else you have, you can put the head scout for all I care and still would do fine, not like this could get any worse, worst case would be losing all the remaining games, and ETH is not bringing you any glory anyway, so there is no upside to keeping ETH at all, he is not going to be able to do anything about it.

 I understand your frustration but I think that's upto the management to decide. If you are this harsh because Manchester united failed to win against Tottenham, you would have asked people to stone Pochettino with the performance he has displayed for the club since the beginning of this year but they turn well as the season is almost ending but Manchester United is doing the opposite. I think the board of directors are watching what is happening and a solution should optin very soon.

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So firing him would have been pretty epic, not that firing him would help with anything neither, we all know nothing would change, but at the very least the satisfaction at the end of the season it would have given to the fans would have been worth it, there is at least benefit of making fans happy.

The season end is here, maximum we are going to have an additional 2 weeks or 3 weeks for any team that have their matches shifted due to any condition and after that, Fabrizio will be active on transfer news. I'm sure that it's the way they surprise us with Eric Hag appointment as Manchester united coach is the same way the team are hoping to present him a sack later by next month after the end of the leagues.
11  Economy / Gambling discussion / Re: When you are not to gamble. on: May 07, 2024, 07:59:32 PM
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It important that gamblers should know this, gambling under influence is never a good idea, they may have to make their set target and see that they work towards it, its not a decision for them to completely stop drinking or taking any other form of addictions they are used to already, but we may have to reevaluate the way things are for the benefits of our own sake, we can drink when we are not gambling and while gambling, we should abstain from getting drunk.

A gambler who wagers on games and was in the influence of alcohol or any narcotic substance actually gamble to waste money, you can make the right decision gambling when you are high, even on a normal circumstance that one gamble in a normal situation, bets can be lost then why would someone even think of going extra mile of been on infleuing. I'm not sure of people that do cannabis substance but alcohol is a big no no even if you don't stager.Grin

One disadvantage of been on influence when gambling, as a sport bettor when you finish picking your games and has bet already, a review can make you change your mind when you see a bad option but trust me, that influence will not make you know where the mistake is coming from, you will likely ignore that mistake and you will surely lose that game.
12  Economy / Gambling discussion / Re: Do you care about what people say about you gambling? on: May 07, 2024, 07:50:47 PM
This is not a question to ask because in this life,if you are somebody that is always been scared of what people say about you,I don't think you can ever do anything your mind says you should do.Therefore,I know people see gamblers as people who won't become anything,and people who are wasting money,but I don't have to look at that because those same people that were insulting you for gambling are the same people that will celebrate you for winning big if you should eventually win big through gambling.It very good that we keep on trying because nobody knows where the luck will come from.

I think we all deserve some level of privacy with the things that we do, just because you gamble doesn't mean everyone must know that you gamble for real. Most youth today spent their time to gamble when they are bored and for other reasons but because youth gamble shouldn't give you the assumption that all youth gamble, so I don't know where people are going to know if you actually gamble in real unless you say it to them yourself.

The only place I will think people should care about gambling is if their doctrine doesn't support gambling, if you're a person with faith and you value it very well, then that's another case differently but this doesn't mean anyone has the right to tell you what you do, what you do is entirely up to you and what your mind tells you about gambling. I know Islam is one of the doctrine that disallowed gambling and makes people see you as person who is defile the teaching of prophet.
13  Economy / Gambling discussion / Re: UEFA Champions League 2023/24 Season on: May 06, 2024, 09:28:50 PM
Im gonna expect a PSG comeback and a Real MAdrid simple win without so much margin against Munich for this two second games of the series.

I dont think PSG is gonna fail in two games in row, and also i dont think Bayern Munich can be the solid it was in Germany and also the lucky because they find two super fast goals who overthrow the whole game.


I laughed at a lot of people that are looking to see what Real Madrid is going to play against Bayern Munich, they think because Madrid has won Laliga, they think Bayern deserve better but this is not better this is a fight for Real Madrid to complete what he has started to go for 15 Champions League trophy in their galaxy and another territory marking for Anceloti to add more to his CV as of the games changer in Real Madrid history.

Another thing I love about this second leg is that PSG and Dortmund will play first and Real Madrid will play later. If PSG scored, Madrid will do a lot of work if they win the Quarter final but if they don't, they have won this because they are going to be the easiest Real Madrid is going to face in the final round of the Champions League.
14  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: May 06, 2024, 09:19:39 PM
There are only a few matches left in the EPL League, both Arsenal and Man City must treat all matches as finals. but in my opinion Tottenham Hotspur will still be a serious problem for Man City to prevent Man City from winning the EPL title. Indeed, Tottenham's fate is tragic, they lost in a row because they met big strong teams towards the end of the season and the four consecutive defeats experienced by Spurs will make them motivated to win in the next match and of course motivated to beat Man City. .

How is Tottenham going to be a serious headache for Manchester City? You know so or you are talking based on emotions and how you feel or should I say your opinion because I want Arsenal to have this record broken and Manchester City not to make it but they don't seems to be backing down, they look strong and hefty to do 3/3 at all cost even if Arsenal win more than the remaining matches they have left.

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Arsenal itself will play against Man United, we know that Man United this season is also unstable, in fact they are playing against Crystal Palace and are three goals behind and I don't think Man United will be able to comeback in this match, Arsenal will do it. of course take advantage of this stability. in the next match. Arsenal has a big chance of winning the remaining two matches, and hopes that Tottenham will soon recover and beat Man City. The EPL league is truly a competitive league when other leagues already have champions but the EPL league is still fighting until the last match.

Manchester united is defeated yet again and they have lost the chance of going above Chelsea. I never for once think that despite the fact Manchester united performance has been like pendulum motion, I don't expect them to fall from where they are, they have lost it totally and it's going to be a joke if Erik remain in that club, there is a need for emergency subscription of new players and managers.
15  Economy / Gambling discussion / Re: Should mentally unstable people be allowed to gamble? on: May 05, 2024, 09:34:41 PM
Gambling in a hall with a mentally unstable person is quite uncomfortable for my liking, because it could be an act of selfishness for the gambling attendant to still give service to a mentally unstable person when they know that the person isn't in the right state of mind to make good selections. From the description from the op, it's obvious the person was mentally illed, and him been able to compose emself doesn't necessary mean that he is stable in gambling selection. Be might pretend to be fine because he/she knows that he'll be kicked out if he causes any trouble. Such person should be deprived the right of playing gamble, since they can just end up being a n irresponsible gambler.

I can really relate with what you said. We used to have this mentally unstable guy in our class in college back then, this guy use to be very quiet and makes funny moves and entertain the class, we thought it natural and we were never inform of his behavior and when the head becomes unstable. So, one day his sit mate took something a customized pen from his bag, refused to give back and ran away, this guy was mad that day and chased everyone from the class, crazy day that day they had to hold him down by strong men.

I think mentally unstable people should not be allowed to go to all public places like physical casino, a loss from his games is enough to turn his head upside down and God forbid, they can go extreme to be violent and do what no person expected from them and how do you explain such a thing in the court of law, they should stay at home or if they can gamble with their phone, then better but not public.
16  Economy / Gambling discussion / Re: How much of my salary should I use to gamble on: May 05, 2024, 09:16:32 PM
Gambling is becoming a popular thing in my locality almost everyone gamble and even colleagues gamble and engage in gambling related discussions at work,  so gambling is legal and very popular so there is no Shame in using part of a salary to gamble with that is why I am asking the question of what the right percentage from my salary that I should use to gamble?

You just want to chase shadow the rest of the people are chasing, there is no any justification for this to make you to gamble unless you have it in mind to gamble in the first place. If you want to gamble, it's fine but stop saying ttere is no shame in gambling, who says it was in the first place? It's a social of entertainment and sometimes make money but not often as you think because it's not an investment but "gambling" as you put ir in context to your subject.

As for your salary, if you know you can afford to lose your salary to bet, then it's your choice to gamble, there is no specific money needed to gamble, only what you can afford to lose but we have some people that based their initial bankroll on the percentage of their salary. Some used 2% to 5% of their income to bets every month. If you can do the math's and try the same, it's fine but I hope it's something you can afford to lose.
17  Economy / Gambling discussion / Re: Do you think casinos can stop demanding KYC? on: May 05, 2024, 09:09:46 PM
Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

Money laundering is what government hates with any company that deals with money, they believe is very easy for companies to wash money and get away with it that's why I think the anti money laundering kyc and the casino are just gradually becoming the normal exchange we do used with basic names and email that overnight changed to compulsory kyc is exactly what is happening with Casino right now, a time will come that a casino without kyc will be difficult to see around.

The only place I personally think casino benefit from KYC of a thing is about abuse of multi accounts, no matter are mercy a casino is, there will be some people that will abuse such privileged and this kyc is the only way to fish out the bad eggs from the good ones in places where they abuse bonuses and trying to cheat the system, other than these I see no benefit of kyc to casinos.
18  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: May 05, 2024, 09:02:56 PM
Is that hope still there for Liverpool? especially considering that they have just recovered from bad results and managed to achieve a fairly landslide victory over Spurs. I think that is still quite available as long as the opportunities are still big enough but otherwise they should not expect more than what they have wasted in the last few matches.

Which hope.are you talking about for Liverpool? Do you know they have two games left to be played for the rest of the season and if they win the rest, it will make them a step ahead of Arsenal but Arsenal still has two games left, even if Arsenal were to draw there rest games or win just one, Liverpool wouldn't go anywhere not to talk of Manchester City that are already 2 point ahead of Arsenal but because of their pending games, they are still behind, as soon as the games are played, everything will align to normal.


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Now everything is still quite possible with Arsenal and Liverpool having 2 games left, but for Manchester City they still have an advantage with 3 games remaining. Everything can still change and what Liverpool needs to do is close the remaining games of the season with a win. It doesn't matter what happens next and they have to keep trying even though it will be painful.

This analysis is a baby analysis, Liverpool won Tottenham because spurs has lost their last 3 games so I will say they got lucky and because it was home game. Liverpool will not go anywhere if Arsenal should win atleast a game from here and as for Manchester, if they win their all matches, they will be 5 points ahead provided Liverpool win their last 2 games and all this analysis aren't possible for Liverpool.
19  Bitcoin / Bitcoin Discussion / Re: Will the number of new investors reduce? on: May 03, 2024, 04:48:25 PM
Only those who don't understand the Bitcoin ecosystem will lose confidence and may not get involved much because they would have thought their profit will surge post halving which doesn't way that way but it's been fed into people's mind that Bitcoin will increase their investment by multiple folds post halving. I don't think this would have huge impact.

Almost everyone who have a single dollar invested into Bitcoin now are mindly programmed that Bitcoin will surge after the halving and now the expectations is almost high, everyone are sitting on the edge of the fence waiting to see that 7 figures on bitcoin with $100k plus but it wouldn't happen like that, there must be some unexpectations before we see that bull run before we go again, more everyone not having interest and then boom.

If we are honest for once, if we all want to see bull run, even if it happens a lot people are going to sell faster before we even reach their that's why this bullrun will be unlike the rest of the ones we have had in the past. We might also see lower highs for few more weeks or even to 2025.
20  Bitcoin / Bitcoin Discussion / Re: CZ Sentenced, Your Bitcoin in their Custody on: May 03, 2024, 04:33:35 PM
Every bitcoiners should understand why they need to have in custody their own digital financial asset and not with third parties like exchange ss, they can be attacked, hacked and if any of these happens, our asset with them are gone, we should learn to avoid the use of exchange, hold our bitcoin on cold storages and remember that not your keys not your coins still ever remains verdict in bitcoin network.

I hope this crusade continues to ring in everyones ears because people will always do what they want no matter you share the bad side of centralized exchanges to them. Centralized exchanges looks simple and easy to use but the simplicity comes with a cost and that cost is not been able to be the custody of your privates keys and in a situation where unforseen event happens, you will be locked in with the rest of the people that love custodial platforms than self custody.

Funny enough, if CZ finally comes out of prison, he will be celebrated and the trust will even increase more but what many people don't understand is that the fight against custodial platform isn't about the trust, is about what will happen later that will is going to beyond their power to handle. If you check Binance reserve today, the Bitcoin is still in billions of dollars like nothing really happen. Sigh!
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