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1  Bitcoin / Development & Technical Discussion / Re: OMNI-UTXO for Bitcoin Network on: April 17, 2024, 08:52:16 PM

Simply, the legitimacy of all on-chain states and operations can be equivalently verified and recorded simultaneously over different consensus spaces, regardless of where they were initiated. That’s why we call the new token protocol OMNI-UTXO.

Usually, UTXOs are used in bitcoin for validating transactions and also calculating the total sum of all the UTXOs locked to an address.
In my understanding, the new token protocol "O-UTXO"you elaborated serves same purpose as UTXOs, so my question here is, what different purpose does this new protocol serves, or is it the modification of UTXOs?
And also, is O-UTXOs also stored in chainstate database?
2  Economy / Economics / Re: Do you believe in savings or investment on: April 14, 2024, 01:54:11 AM
What I think is that they lack information about these investment ideas and for those who knows about them but still prefer to save their money may just be ignorant and unwise.
After going through the post and some replies, i see that including the "op" and some members support the motion that investments is the key to unlocking financial security.
They is a saying that goes thus; "if you want to be rich in life, invest/business, if you want to sustain your life, work for the government", to me, this is the much people needs to know about earning a lifestyle, then is left for them to pick which side they'll be on, because not everyone can withstand the rigor of investment.
My 2 cens.
3  Other / Beginners & Help / Re: Do you think merit is by chance or lengthy article? on: April 03, 2024, 12:52:28 AM
You don't need to create a thread or write a quality article first before you can earn merit. Merit is given by different members for different purposes; all that's needed is to be yourself and be productive.
 
You can earn merit by just asking the right question, and you can also earn merit by just answering other people's questions and solving a problem.
 
Merit most often comes from places we might expect less of. What we think others might like and see as worthy of merit might have a different picture in their own view, so it's best to focus on being yourself rather than looking for ways to make a post that will earn your merit, as that might end up leading the person to nowhere. 

You really boost my horizon on how the whole forum works, in a simple statement; we are all here to share and receive knowledge, one gets accolade by the knowledge he shares for the benefit of others.
4  Economy / Trading Discussion / Re: How long to learn trading? on: March 13, 2024, 11:13:50 PM
How long it takes isn't what to consider, but how well you understand it. One thing i'll assure you is that learning slow yield better result. Here are some guide lines:
1: Get a tutor,
2: Take your time and learn the basic fundamentals
3: Have one or two community you are into,
4: Develop a strategy on how to approach the market
5: work on your strategy
6: 5
7: 4 and 5
8: 7.
5  Bitcoin / Development & Technical Discussion / Re: What to know of Nodes and Running a Node on: March 11, 2024, 02:49:57 PM

A NODE is a physical device such as the computer or a device of its equivalent that participates in the confirmation and storage of Bitcoin data. In essence, this is to mean that, any computer device that is used in Bitcoin confirmation and data storage is a node right?

how then do one gets to link his personal home computer to a sophisticated network such as the blockchain network, in essence, run a node and do confirmation tasks.

I could go on and give you an elaborate details on the subject  topic "node", but since your questions are specific, i'll be concise.
Node are more or less a medium of communication that sends, receive or processes bitcoin data. Node performs two main task:
(i)keeps duplicate copy of the blockchain, just like your phone keeps records of your calls in "call logs" and messages in "message inbox", and with this information your node has, it can perform it second task which is.
(ii)validate those information and relay or carry out new transactions and blocks.
All you need to run a bitcoin node is a computer and an internet connection, just as all you need to make a phone call or send a text message is a phone and a SIM card.
Follow the link below to start your bitcoin program
https://bitcoincore.org/bin/bitcoin-core-26.0/bitcoin-26.0-x86_64-apple-darwin.zip
6  Other / Beginners & Help / Re: Patience is power on: March 03, 2024, 09:46:00 PM
should go through what the high ranked members post before making their own post and after going through series of threads I decided to read as much as I can and to hodl as much as I can and now all my technical analysis are going towards my direction and the chances of loss has reduced
My own experience about trading these coins and my view is that, trading is a side gig not a permanent job, as the user doesn't enjoy health insurance or retirement plans.
Meaning, to have a side gigs, you need to secure a permanent job with a monthly or weekly payment, so as to trade efficiently, what makes a winner is the courage he possess, having a side gigs will go a long way in boosting that courage.
The second key element is patience; knowing about market flow is something that has to do with careful analysis and patiently waiting for the wave to come to you, heeding to the fact that you can't change the direction of the flow, so learn how to follow it.
7  Other / Beginners & Help / Re: Reason for acquiring bitcoins. on: February 08, 2024, 12:36:07 AM
The reasons why people buy bitcoin is all the same; to make profit from the initial investment, but the approach towards the market might varies due to level of thought or mentality.
But one thing i'm certain is that, 1:2 of bitcoin investors are pushing to be capitalist rather than the communist the government wants the citizens to remain. I see bitcoin investors as individuals who wish to take control of their wealth in their own hands, they wish to go through the pain and the joy that the market may bring, rather than saving up money in the bank and letting others use it.
They chose to work for themselves to gain wealth.
8  Other / Beginners & Help / Re: How can I start investing in Bitcoin? on: December 14, 2023, 10:42:52 PM
Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?
Speculating if cryptocurrency is suitable investment to engage into?
Ask yourself these questions:
ˇ. How well do you know the crypto world
ˇˇ. Can you handle the risk it comes with?
ˇˇˇ. Do you have a side gigs to always bring you back up when you lost a trade?
If you choose to invest considering the factors above, then you should note this:
a. If you want to invest into crypto, particularly bitcoin, you should know the value of blockchain and why theory like mining and cryptography hash (decoder which receives variable length to return output of a fixed length) are of great value to its function.
b. Also, one of the important fundamentals is staying up wth crypto trending news.
After your observation about how the economic work, ask yourself "am i sure it value will ascend?", If you doubt your instincts then don't do it.
c. Be ready for market fluctuation because crypto is highly volatile.
d. It is also suggested that one should have a specific strategy on how to approach the market.
9  Other / Beginners & Help / Re: How you start a particular journey matters a lot. on: December 14, 2023, 09:59:21 PM
I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

I have attended a lot of business seminars and one of the key advice we receive most of the time is not to start up a business with borrowed money as it will put us under unnecessary pressure and the outcome doesn't always end up well and although selling an asset to start up a business or in this context, buying of bitcoin isn't directly borrowing, but it goes a long way to show how unprepared you are, venturing into that business.

And I guess this is the reason why a lot of people can't hold their bitcoin for a while before selling it off in times of minor challenges.

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

Remember that bitcointalk.com is not an office and so you should find other sources of income and then you will appreciate the forum and your holding will not become the nearest option to consider whenever an emergency sets in.
This is an important factor to consider as a trader, having side gigs won't only keep the trader afloat, but also helps in keeping up with consistency.
I witnessed someone who deleted all his trading apps and relocated back to the rural settlement where he can cultivate crops, he starts to harvest after some months of hard work and back breaking labour in the farm, as soon as the income becomes steady, he resumed back to trading by reintroducing himself with the fundamental knowledge on crypto world, and it works out for him.
Side gigs does a lot in boosting trader's courage and courage as a trader is a key factor in your trading habit.
10  Other / Beginners & Help / Re: Newbies say no to Trading. on: August 20, 2023, 08:08:23 AM
All these predictions are more pseudoscience to me.

I wouldn't say that if i was you, Prediction of the future movement of any pair is proven to be science not pseudoscience; because it has the features of fundamental scientific approach, with all claims, this experts learn from observation, ask empirical question, and also they are many journals describing in details the method they used in their research. Prediction is not 100% right not because is not science, but because spairs" behaviour is determined by many external factors.
11  Other / Beginners & Help / Re: Features that destabilised people in bitcoin on: August 14, 2023, 03:45:47 PM
I think fear of losing money could also be one of the factors that destabilize investors, traders invest their funds without proper orientation or not bearing in mind that no investment on this earth is safe.
The fear of losing money will only make you loose more or it will stop you from taking a huge step in your trading life.
A trader should bare in mind to loose some money but applying proper risk management will help in staying longer in the market.
12  Economy / Economics / Re: The impact of Russian and Ukrain war on world economy on: August 11, 2023, 12:31:47 AM
economy/2022/6/8/russia-ukraine-war-threatens-long-lasting-impact-on-global-eco]World economy


I look to it that the war affecting the economy of every country and with research about it , Al-Jazeera gave detail of how some countries is affected and if the war did not stop , more of the country will keep suffering. Russia is part of the biggest supplier in oil and the short suorpply is affecting the world. The war is affecting the europe countries hard because two countries in the war are two big supplies to europe. Russia cut supply of oil to euro and that affecting production, gas use. The Ukraine economy supply large amount of iron, steel, ore,stag and ash to the world and euro now in shortage include animal vegetable fats and oil to euro and the other countries.

This is hard time for economy to survive what is your thinking about the collapsing of world economy with highing inflation.

The war has negative impact on Nigeria's wheat supply value chain because Russia is one of the country's primary source of wheat.
Since the start of the war, price of flour has gone high because they is cut in supply of durum wheat.
Though, the government are set to increase their local domestic wheat production, but even so; the action will take some time before it began to yield positive outcome.
My take in this is that, countries should focus on boosting their local domestic production, unless if such resource
/materials isn't present in the locale.
13  Economy / Trading Discussion / Re: For newbies and plebs who want to self-study to become "traders" on: August 10, 2023, 11:28:23 PM
Trading is like gambling


and a leveraged gamble at that if you, as the entrepreneur, are using borrowed/loaned money.

I did leveraging some years back, i borrowed money to invest into crypto currency, ignoring the rules of "don't borrow money to invest"i lose all the money in the long run, that moment i realise that crypto is indeed "gambling".
14  Local / Nigeria (Naija) / Re: Life of a Crypto man on: August 10, 2023, 10:57:29 PM
If one should go into crypto currency without a side gigs, such trader will hit the bottom rock and will remain there for a long time.
From my basic knowledge about crypto currency, one needs to bare in mind the following factors before venturing into crypto currency:
1. Knowledge about crypto currency and it pairs behaviour
2. Funds, and lot of funds
3. Patient and
4. Risk management.
15  Bitcoin / Bitcoin Discussion / Re: Would Bitcoin recover even if it fell to one dollar? on: August 08, 2023, 01:03:34 PM
How low would Bitcoin have to fall before it was no longer recoverable?
The inherent qualities of Bitcoin are what makes it valuable. It was once less than a dollar, cause of the public perception of it or lack of knowledge.
"Public perception" to me is the first determinant of bitcoin's behaviour, it is a strong factor that brings about Demand and supply because investors are influence by media blitz, crypto currency supporters, and predictions from experts.
16  Economy / Speculation / Volatility and its effect on: August 08, 2023, 11:57:07 AM
In the foreign currency market, I recently experienced the BTC/USD volatility effect, which prompted me to investigate what makes the pair (bitcoin) so volatile.
Volatility is the evaluation of how much value of a financial asset fluctuate on a particular time.
Averagely, Bitcoin volatility ranges between 1.68%_4.54%, where Wednesday is the most volatile day compare to other days and Saturday which is the least volatile days.
The significance of volatility is that an asset is risky to own on any particular day, Its value could significantly increase or decrease.
There are a number of causes for bitcoin's historically erratic price behaviour. By knowing the elements that affect its market value one can choose if to invest in it, trade it, or keep following its advancements.
Bitcoin's price; just as other commodities, stocks, other products and assets rely upon supply and demand.
As it is an asset which traders and investors have swiftly adopted, its value is heavily influenced by opinion about price changes.
Investors concern are also influenced by media sources, influencers, industry titans with strong opinions, and popular cryptocurrency supporters, which causes price volatility.
Factors that create bitcoin volatility.
1. Demand and Supply
2. Investors' and user sentiment
3. Government regulation
4. Media blitz

• Bitcoin demand and supply
As much as any other aspect, demand and supply determine the pricing of the majority of asset. The quantity of coins in spread and the price at which individuals are prepared to pay have a significant impact on the value of bitcoin. The total quota of coins in the cryptocurrency is set at 21 million by design; when the circulating supply approaches this number, values are projected to increase. Source: www.c[Suspicious link removed]m
• Bitcoin investors reaction
Since the quantity of bitcoin; the most popular cryptocurrency is getting more scarce, demand for it is rising.
• Government policy also influenced bitcoin volatility
• News/Media outlets
In the news, or media, we see different analysis from different “experts” predicting the future movement of Bitcoin, with that action, holders tend to hold more or even increase their shares.
17  Other / Beginners & Help / Re: How do I start my journey on bitcoin talk forum i.e. in crypto world. on: July 14, 2023, 08:03:32 AM
Hello. How are you all?  I am new to this forum.  I came to know about bitcoin forum from a friend of mine.  But I don't know much about forums.  What should I do in this situation?  I know about Bounty but I am not interested in Bounty.  How do I start working?  What should I do? I want your help to start my journey-
Thanks-
Heyy mate, welcome to the forum, i am a newbie like you as you can see from my profile, i don't have much to say about the forum as i am still learning from the community members, but one thing i'll tell you is that, all you need to know about bitcoin is in this forum, take your time, learn slow and do self research, i assure you that your journey to bitcoin will be guided as they are many members who will be willing to impact on those that are ready to learn.
18  Economy / Trading Discussion / Re: How do I understand Bitcoin charts? on: July 14, 2023, 07:41:13 AM

I know there are different types of charts, you can Explain the chart you know in it's simplest form.




OP, chart is a wave of candlesticks movement, they are no many different types of chart, but they are about eleven(11) different chart pattern to aid a trader to determine or predict the future move a particular pair will make. So you need to elaborate more on what really you want to know about the chart.
19  Other / Beginners & Help / Re: What does volatility means with example? on: July 12, 2023, 10:45:18 PM
Hi can someone explain volatility with example, I understand what it kinda means but find it hard to implement in reality. Like for example if btc volatility is 4% does that means it goes up and down 4%? Everywhere i find it shows formulas which i am not interested in, I am interested in how I can implement it in my trading decisions.
Volatility is the proneness to change quickly and unpredictably.In simple terms, volatility refers to the price swing of assets. It evaluate the difference between the opening and closing prices over a certain period of time. Take for instance, a pair that is swinging between 2-20 pips is less volatile than a pair that swings between 30-100 pips.
What causes volatility are political, economic, wars and social events, as a trader, one should be aware of current events and keep up on global and financial news in order to make profit and to avoid unrealized losses
20  Other / Beginners & Help / Re: What was your biggest fear with starting in crypto? on: July 08, 2023, 12:20:27 AM
Genuinely want to know what prevents your friends/gf/ colleagues from investing? Did you have any barriers when you first started?
I knew about bitcoin a long time ago, and over the years i've witness how much people have elevated in standard through bitcoin investment, but i have been hesitant to join the trade because one needs another source of income/job in order to have an effective trades, not until last year when i decided to start a search for an in-depth knowledge about bitcoin pending when i'll invest into it.

In my opinion, the barriers that prevent many individuals from investing is lack of source of finance to maintain a consistent trading.
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