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1  Other / Beginners & Help / Bitcoin protocol violation on: May 11, 2024, 09:06:15 PM
I stand  to be corrected but from my understanding about how the bitcoin protocol  works. If  a transaction violates the rules of the bitcoin protocol, such transaction is treated as void and is ignored.
It is said that the entire network much reach a consensus before a transaction can take place. Must a full network consensus be required to verify a proof of work result?
2  Bitcoin / Bitcoin Discussion / Re: Bitcoin a possible tool for revolutionising financial inclusion on: May 10, 2024, 09:47:03 PM
It only cost one internet connection to participate in the p2p transaction.
There is a fee attached to every bitcoin transaction, the fees vary depending on the size of the transaction. Miners select transactions with highest fees so if you want your transaction to be confirmed faster you have to pay a higher fee.
Every medium of transaction requires a fee to maintain its ecosystem i think you should revisit the line you quoted so you get the concept more clearer.
3  Bitcoin / Bitcoin Discussion / Bitcoin a possible tool for revolutionising financial inclusion on: May 10, 2024, 06:27:36 PM
Despite the advancement of technology and the modern era we live in, there are still areas where people are either underbanked or unbanked. On a nationwide evaluation, millions of Americans are said to survive on an economic margin. Weighing the level of unbanked citizens in the US, it can be said that 10 million house holds (7.7 percent) are affected. It can be inferred that the neither have a checking or saving account. In a situation as this Bitcoin as a decentralised currency can become a powerful tool to liberate this inclusion challenge. Eliminating the challenge of banking system but still enhance easy transaction taking advantage of the p2p system Bitcoin ecosystem provides.

Here are a breakdown of how this can be achieved

  • Global Reach
It only cost one internet connection to participate in the p2p transaction. No bank or third-party intermediary, no bank stamp, every single transaction is time stamped and appended on the blockchain open ledger. This can boast transaction within this regions which means there is no geographical limitation allowing Bitcoin transcend beyond continental boundaries.

  • Remittances
With Bitcoin migrants can send money back home more swiftly and affordably. The cost of cross-border remittances can be overwhelming and cost inefficient. So Bitcoin been a borderless and intangible asset can perfectly cub this limitations

  • Economic Empowerment
Inflation is eating deep into our society and we wake every morning to our currency devaluation. Let's take Africa, Nigeria as a case study where the cost of living keeps hitting hard on the citizens by the dawn of a new morning. Bitcoin can serve as cutting edge tool to pose an economic balance in the stabilising the economic challenge.

  • Entrepreneurship
Most Business today accept Bitcoin as mode of payment just like Microsoft which started accepting Bitcoin as mode of payment in 2014. In this areas where people suffer financial restrains Bitcoin can become a promotion tool for financial inclusion. Bitcoin can serve as a payment option.

  • Financial Education
The need to educate this underserved population about Bitcoin should be a point of concern. This can help them in making informed financial decisions and also take control of their economic futures.

The positive impact of Bitcoin of this sensitization can become a building stone in promoting financial inclusion
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Source: FDIC(Federal Deposit Insurance Corporation). 2014. 2013 FDIC National Survey of Unbanked and Underbanked Households, Washington, DC: FDIC.

---.2012, 2011 FDIC National Survey of Unbanked and Underbanked Households. Washington, DC:FDIC
4  Other / Meta / Re: Hey Theymos, There Should Be a Demotion Button on: March 13, 2024, 06:00:06 AM
The negative trust system solves the puzzle already. With a negative trust from a DT member the user is already halfway out of any campaign they are currently participating in or has little or no chance of been considered in any signature campaign at all.

 I was rather thinking a badge for the most earned merit for every week or month will have been increased post quality. How do mean? Look at it from this angle if there are is a badge given to users who earned more merit during a particular week or month and an algorithm written to verify this user Actually deserves the merit post quality will increase and campaign managers won't find it difficult recruiting participants and low quality posters will have no choice but to work on the qualifications of their posts.
5  Bitcoin / Bitcoin Discussion / Emulating the decentralised infrastructure on: March 09, 2024, 02:30:37 PM
Many objections have been made towards the adoption of Bitcoin as a generally acceptable legal tender except for countries like El Salvador which happens to be the first ever country to accept bitcoin as legal tender in June 2021. Estonia is another strong contender for top countries where crypto and Bitcoin is regarded as legal tender.

One big limitation that might accompany the adoption of Bitcoin as legal tender for most countries still dragging their foot towards this adoption is the issue of tax regulations , inadequate consumer protection, Financial institution reluctance, I will also add concerns to the environment.

If we must emulate this decentralised infrastructure in our everyday experience except for the concern of taxation and consumer protection I have the notion that every other limitations can be discarded and treated as irrelevant.

Take the financial institution for example this set centralised entity has done more harm lately than good to the wellbeing of their consumers right. And because this act is been fueled by most country leadership the citizens just have no guts to complain but rather endure and tolerate this excesses.

In my humble opinion decentralisation will do our world more good especially now the centralised system of government is having lapses and loopholes
6  Local / Nigeria (Naija) / Re: A Skill or a degree on: January 17, 2024, 09:17:29 PM
Education is very important,but in a country where the educated stands no chance of getting a well paying job after school; a skill is highly required. This skill is to create room for entrepreneurship when no job is coming through. Most times, learning skills require some educational back-up to be able to uphold.


That is why I think our argument should be "SKILL BEFORE A DEGREE OR A DEGREE BEFORE A SKILL.
7  Other / Beginners & Help / Project management can be useful as an investor on: December 23, 2023, 03:25:07 PM
Initiating, having a well defined plan, possessing full control, having executable qualities, monitoring and then closing an investment laid down plan is on tricky methodology to find a good walk around in the crypto market.

You will agree with me that a work broken-down structure where every detail on how to ensure a project is properly analysed and determined gives better edge to the investor because it doesn't just tell an investor how to start an investment it also helps the investor to know when to close and re-strategize.

For a project plan to be very effective it will require proper planning and well defined goals. Most times having excessive knowledge doesn't guarantee good outcome but strategic planning and follow ups can do the magic.

I was just thinking for projects that have no defined road map and vision it is better to avoid them than gamble them. Because I strongly believe a project that Isn't analysable is invariably a gambling tool in the crypto market. Even crypto assets that has a roadmap once the investor can't spot the defined patterns hidden behind the asset it automatically becomes a gambling tool.
8  Economy / Economics / Re: Pay discrimination on: December 17, 2023, 03:55:06 PM
There has always been a huge difference in the pay scale between the white collar jobs and blue collar or skilled labor wherein the later one put in more effort physically and do more hardwork than the earlier one.
I feel one of the key reason for the variation in pay between white collar jobs and skilled jobs is that while most white collar workers hide under the umbrella of other skilled workers to get a job done or most times the pay this skilled workers to perform most of the job they were employed for. Skilled workers prove the deserve every dime the receive as payment for the work the do. So skilled workers deserve to get higher pay in my opinion
9  Other / Politics & Society / Re: Fight against corruption on: December 17, 2023, 03:50:15 PM
How easy for a new president who is been elected to fight corruption in a nation where all the systems of government is been corrupted,  like in the force,  and judiciary,  even the politicians.

Having  the mind to stop corruption is not easy in a nation that corruption  is seen as nothing, making an attempt to do so some politicians will do everything to frustrate the agenda. Do you think a genuine president can easily end corruption of this level ?
I don't see a new president having that ability to fight corruption that easily. If he must then he needs to start as an example of transparent and accountable leader then slowly surround himself with people of like minds not necessarily political leaders then from there he can slowly make implementations that will put the country in check of bad leadership and corrupt practices.

But fighting it completely is not possible the highest that can be achieved is reduced corruption
10  Other / Beginners & Help / Re: Starting as a Bitcoin Blogger on: December 17, 2023, 03:46:02 PM
I will say you start by  picking your interested features of Bitcoin because if you don't you might get discouraged along the line as a starter because the scope of Bitcoin is way too broad and good coaching is required to stay at the top of the game. Also remember there have been bloggers before you so to get the attention of your audience your content has to be unique, Up-to-date and concise
11  Other / Meta / Re: Second chances on: December 17, 2023, 03:40:00 PM
This is a very high level of kind gesture displayed as an admin. I am sure the lucky ones who get unbanned will make good use of this second chance and avoid plagiarism as much as the can.

Citing only but one constructive post made by the user is really fair I must say. At least it will show the user deserves the second chance and that they can still do more constructive posts when the return fully to the form
12  Economy / Economics / Re: Learn to use DEBT in a proper way to create asset on: December 17, 2023, 03:35:31 PM
Debts that exceeds your source of income is generally bad. Except for the sake of a defined investment with properly calculated risk management taking risk beyond once source of income can lead to not just debt but break down, emotional trauma, early death even lack of peace.

If one must take a loan that it above their income maybe for the sake of building a house or setting up an investment it is advised to go for long term loans and this loan's payback time should be calculated before taking them to ensure peace of mind and proper fund management
13  Other / Meta / Re: How do I fix this ? on: December 12, 2023, 09:04:26 AM
Did you use Tor?

If you use Tor, it is a known issue.
Cloudflare - Not a robot (maybe...) on Show All
It doesn't just occur in TOR browser alone. I also experience it while using chrome browser and even in Opera.

I don't know if this a problem or if I am the only one experiencing difficulties when I try  viewing every post in a thread on one page.like any time I click to view all this displays;
This happens when cloudflare put security measures in place to protect the website from malicious bots and automated attacks

Quote
Sometimes it loads up a while after I click on the verify button other times I will wait endlessly for it to load because it keeps loading and asking to click verify over and over again.
Why it loads up after clicking on the verify button is to ensure the security of the site and it's visitors. The admin of BTT has designated cloudflare as authoritative name server for the sites domain. But to put it off completely you should follow this steps:

  • Log into cloudflare dashboard
  • Select your account and zone.
  • Go to Security > Settings.
  • For Browser Integrity Check, switch the toggle to Off.

https://community.cloudflare.com/t/cloudflare-browser-verification-stuck/279473/4
14  Economy / Economics / Re: Which do you prefer on: December 12, 2023, 08:06:16 AM
It depends on the payment that comes from the monthly job or business. Trading has higher volatility and has such there might come a time where the trading capital get blown down to zero and in times like that it is the job/business that will sustain and raise capital for funding the trading account again.

I won't even advise anyone to rely solely on trading because of the high risk but combine it with other sources of income
15  Other / Beginners & Help / Re: (BTC) it really helps on: December 09, 2023, 10:27:43 PM
Regarding to day by day signal Bitcoin has the most perfect signal which assure you with no loss but only profit.
You won't say there is no loss for daily signal. For traders with low capital to withstand the market volatility and retracement there will surely appear losses. For now it's more safer to just buy and hold especially for inexperienced traders with little capital but for big account size following those signal with proper risk management will make good ROI but that doesn't mean there will be zero risk factor.
16  Economy / Economics / Re: Inventing a job is better than finding a job on: December 09, 2023, 09:29:34 PM
But I will like to ask can one invent a job when they haven't worked for sometime to gather experience. Inventing a job is the best approach to today's harsh and and hiked economy but one needs to have an idea of whatever innovation they might want to introduce to the society and as such the will start by getting a job first
17  Bitcoin / Bitcoin Discussion / Re: Are you feeling FOMO like I am? on: December 07, 2023, 11:49:57 AM
The fear of missing out can become a very dangerous and risky move if it is the reason for buying. It is better if there is a research or analysis done before buying but basing our judgement on the current price might trigger FUD at the end of the day. Take for example an investor might see the the sharp move of bitcoin and feels they will make quick profit by the next bullish push only for them to run out patience because of possible delay in the push and sell out of FUD only to see the price pump after some time
18  Economy / Economics / Re: What class of an investor are you? on: December 06, 2023, 08:51:06 AM
I am more of a researcher because the market is always changing and one particular approach doesn't suit all market conditions so doing my research before making my decision becomes a top most priority for my investment. When I started I began I started as a complete beginner sourcing capital from friends and family but was to no avail then I had to do some side job to generate capital
19  Bitcoin / Bitcoin Discussion / Re: I will invest the money to buy the land in Bitcoin. on: December 05, 2023, 11:03:25 PM

Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.  
It's better to play safe than risk it all. Land appreciates faster than Bitcoin in real sense except for Bull run seasons. Instead of risking all $11k on Bitcoin why not do a split on the money maybe a greater percentage could go for Bitcoin purchase while the rest on land. Reason been that no one can predict the future a need for the money might arise and that period might not be bullish enough to make some.profit before selling and might result in loss. To be on the safe side the land can be sold back while the Bitcoin remains even for longer term. Because so far the longer we wait the higher our chances of making something tangible out of our Bitcoin investment
20  Bitcoin / Development & Technical Discussion / Re: Zero-Value Transfer on: December 05, 2023, 10:22:13 PM
Could someone explain in tech example how it works? - Zero-Value Transfer
Consider a scenario where a transaction is made but the amount of Bitcoin sent is very small, it can still mean no actual value was transferred in the cause of the transaction. Remember in a valid Bitcoin transaction the amount sent is recorded in sats which is the smallest unit of Bitcoin.

If we seek to consider examples where this zero value transfer can occur we can look at

  • Lightening Network Transaction can be considered although it is a layer two scaling solutions for Bitcoin that helps with fast and cheap transaction that are created off-chain
  • we can also consider the dust transaction where the amount transacted are very small often below the network's minimum transaction output size

It is worth knowing that for zero value transactions the amount can be small or even with no value when talking about Bitcoin, And this still contributes to the data size of the Blockchain

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