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1281  Bitcoin / Bitcoin Discussion / Re: Would Bitcoin Be Badly Hurt if Binance Goes Down? on: June 16, 2023, 09:05:39 AM
I really am no fan of Binance because I found their KYC annoying.
That's true, especially for those of us who got on Binance in 2017 immediately after its launch. Then it was KYC free and without trading commission. It's really nostalgic, what a great time with Binance those days. Like you acknowledged, CZ is a popular name in this industry and he has done remarkably well for himself and the entire crypto industry.

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How much harm do you think a Binance implosion would cause Bitcoin? Is the US a big threat to the coin market?
Frankly, I don't see Binance shutting down hitting Bitcoin to a massive dump. No doubt, it will shock the entire market but it won't be for long before the market shakes it off. On the US motif, I think the hypocritical SEC is over playing its hand on this. Let's keep watching and see how all this will end.
1282  Other / Meta / Re: Gateway time-out Error code 504 on: June 16, 2023, 08:01:34 AM
Someone asked me off this forum while the site was inaccessible and all that if FBI had clamped down on the forum, I knew (believed) the comment was rhetorical and so I didn't bother to respond to him. However, if I may ask; does anyone else feel that way whenever the site is down?
1283  Local / Nigeria (Naija) / Re: Guys, What's up with one of us (nelson4lov)? on: June 15, 2023, 06:01:40 PM
OP, e go good make you lock dis thread since d guyman wey dem dey ask after don appear here to tell us sey everywhere dey ok for im side. Nothing dey bite am.
1284  Local / Nigeria (Naija) / Re: Nigeria why😭😭 on: June 15, 2023, 05:57:00 PM
I hope that more regulations are coming to make the 10% capital gain tax to become reality and effective, while the exchanges too should not be left alone, or they should stop providing services to Nigerians.

Those exchanges suppose to have offices in Nigeria, or they should stop their services to Nigerians.
You talk as if those in charge go take the tax derived from those companies do better thing for d cowtry wey nor be to loot am. Naija na real big crime seen and na d worse dey warm up to happen. Hardship scatter ground everywhere for dis owa Naija. Imposing sanctions hastily on these companies wey na from dem most youths dey take sustain demselves nor go smooth oh. Na small small dem dey take do all that.
1285  Economy / Economics / Re: I thought there was an egg shortage. on: June 13, 2023, 08:49:49 PM
It was normally $0.093 (NGN 70) per egg and a crate of eggs was around $2.8 (NGN 2,100) in a medium size eggs while larger size was around $3.1 (NGN 2,356) as of last year, getting to this year the price has suddenly increased to 30 percent, where a piece of $0.13 (NGN 100). I was like could it be that the request for chicken is much in a way that leads to the increase of the price?
That was a thorough market survey you did there as your analysis of egg prices are accurate. Yes, a single egg is N100 in today's price and that's like over 50% of what it was two years ago. Then a create of egg sold for N1,500 – N1,800.

However, there was a glut in the market early this year during the 2023 elections with that cashless policy that hit our country real hard. Most people didn't have physical cash to pay for eggs and most farms weren't accepting online transfers. So it was no business for them. Godwin Emefiele, the CBN governor, deserves a prison term for making Nigerians suffer unnecessarily (E nor go better for that dude). through that needless cash policy. So many farms had to bury eggs as they couldn't find market for that. It trended at the time. I don't think what we've in Nigeria with the egg situation is connected to any global egg scarcity. We don't import eggs. There's no egg shortage in Nigeria at the moment. What we've affecting egg price in Nigeria is the high cost of feeds because of inflation in the country.
1286  Economy / Economics / Re: Landed properties is the best investment on: June 13, 2023, 05:25:57 PM
Land never depreciates it keeps buying higher that's why I considered it the best investment. What do you think?
I would've read your entire comment and moved on but since you mentioned Nigeria in the whole certitude of the profitability of landed property, can I point your attention to the fact that no business is without its own risk? Nothing in the world is without risk; even sleeping in your room or anywhere has its own risk too. Haven't you heard about people getting crushed in their sleep? Back to the issue at hand, what about natural disasters like earthquakes, flood and all that taking up areas of land one bought? Can you still say such land can be recovered and sold? We saw how flood engulfed parts of Bayelsa and property on those areas made worthless. Till date, there are land owners in those parts who lost out and the few who still have access to theirs can't even sell to recover their money as no one is willing to buy from them because of reoccurrence of flood in those areas.
1287  Alternate cryptocurrencies / Altcoin Discussion / Re: New ethical memecoin; PEPA on: June 13, 2023, 04:04:10 PM
I had a glimpse of this project on Coingecko a few minutes ago but what I found out isn't convincing to show that there's anything serious going on with it. It looks abandoned on telegram with its last active time there being on May 15 with just 742  subscribers there. I said just because any serious project would've garnered more than that within its five months of getting listed on coin sites like PEPA was. Its presence on Twitter isn't any better too. I advise that whoever is investing in this project should calculate their risk before diving in.
1288  Economy / Exchanges / Re: What's next? on: June 13, 2023, 02:17:01 PM
What do you think about the situation around Binance?
With all that's happening, I'm beginning to think this could become an opportunity for more Dexs to spring up. If Coinbase and Binance which are the topmost exchanges are getting terribly hit by governments, it could even make the exchanges to shut down and move to decentralization or this can create another wave of new centralized exchanges springing up. In the past it used to be Phoenix, Bittrex, Coinexchange, Bitstamp, Bitfinex that dominated the stage until Binance happened in 2017. I won't be surprised if we witness a similar thing play out now and there's a paradigm shift.
1289  Other / Beginners & Help / Re: New beginner on: June 13, 2023, 01:48:14 PM
Hi everyone, please can someone put me through on how the forum works, because I can't find my way around it please. Thanks.
I think you were too hasty, judging from when you got registered and when you asked the question in the OP. Your time of registration was June 07, 2023, 02:15:39 PM and the OP was created barely 15 minutes after that. A little patience and perusal would've opened up to you the answer you seek. In all honesty, I think this forum is user friendly and easy to navigate compared to most crypto fora. You just need to read sticked or pinned posts of sections you open to know most of the rules and regulations here do as to steer off trouble.

In another light, I'm a bit curious how you were able to manoeuver through the process of registration and had access to post in less than 15 minutes after creating this account. I need somebody to explain this to me. Is it that the evil IP fee as penance isn't placed on all newly registered accounts? I know it took my mentee more than 24hrs to gain posting access even after paying that fee. So, how come OP was able to get registered and commence posting in less than 15 minutes.
1290  Bitcoin / Hardware wallets / Re: How do I secure my wallet on: June 13, 2023, 12:55:20 PM
4. Keep your software up to date: Regularly update your wallet software to ensure you have the latest security patches and bug fixes.
We can't really be too certain something wrong won't happen with this. I've read something here where a user got hacked while trying to update their wallet and all the funds moved out. I don't know how that happened but it was a shock anyway.

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5. Backup your wallet:
Doing this regularly will easily expose your wallet. Someone can stumble on where the littered vitals are hidden and the funds are gone just like that. Limit doing this. I make a copy of mine only once. I don't even keep it like something I'm hiding. I keep it where I keep other regular stuff so that even if anyone stumbles of it, they won't know it's something important. I'm practicing that principle of the best way to hide something is to expose it or put it in the open.

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6. Be cautious with online interactions:
This should've come as number one warning to heed to on the list.

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9. Be mindful of public Wi-Fi:
This is apt! For those who think they want to save cost by using public WiFi to assess anything confidential, they aren't doing themselves any good. Wifi in the public space should be for less serious browsing or Netflix and all of that, not something that involves high level of privacy.
1291  Bitcoin / Bitcoin Discussion / Re: Kids and Bitcoin on: June 13, 2023, 11:28:49 AM
I'm not trying to play a spoiler here but I don't think it's proper what you want to do at your get together event. You're trying to take away their childhood from them by introducing them to Bitcoin at this tender age. 7–11 years aren't even teenagers. Don't force kids to learn this stuff except it's a part of their school curriculum and the education board will know how best to introduce it to them. There are still a hell lot of adults who don't know anything about Bitcoin. You can evangelize to those ones. Late Michael Jackson found fame as a kid around 5 years or so and lost his childhood to it. He couldn't live a proper life as an adult and that was why we had him act around kids in his adulthood.
1292  Bitcoin / Bitcoin Discussion / Re: Bitcoin pledge for a newbie on: June 13, 2023, 09:33:47 AM
Why do some people take this forum so deep?
I guess it's because those who do so see here as a form of a workplace where they can earn. There's that ambience of respect every workplace commands and it shouldn't be an abnormal if someone treats here with respect. One should treasure where one's heart is for it's even said that where a man's treasure is that's where his heart will be. The only bad part will have to be those who ass lick just to curry favour, whether here or offline.
1293  Alternate cryptocurrencies / Altcoin Discussion / Re: BEP20 OR ERC20? Preferred token on: June 12, 2023, 08:35:32 PM
When we look at both networks, it is possible to see that both are of high quality. But ERC20 network is more reliable than BSC network. Because tokens or their owners, which are released for fraudulent purposes in the market, prefer the BSC network because of their costs and gas fees. Because of the transaction costs, they produce tokens in seconds and make their sales. However, since the costs are high in the ERC20 network, investors do not invest in every token that is issued. Naturally, in this case, it makes the ERC20 network a bit more reliable than the BSC network.
You talked about the high gas fee of ERC20 projects as an advantage as it discourages scammers from utilizing its smart contract as if there weren't several scam projects on its smart contract long before BEP20 came on board.

About reliability, I really don't know why people believe that ERC20 comes top. Even you also opined that in your, "But ERC20 network is more reliable than BSC network". I'm not a tech kind of person, so I will take my assessment of them from the angle of their transfer commissions. For me, BEP20 is super cheap and very fast to confirm transactions when compared to ERC20 tokens.
1294  Economy / Trading Discussion / Re: Bitcoin moving with fundamental news on: June 12, 2023, 06:37:10 PM
The volatility with price now can be traced with what is coming out from binance legal challenge and allegations with sec and restrictions from some countries. If that is what you call fundamental news maybe and that is going to create more panic until it settles down. However, it shouldn't affect the price of bitcoin for a longtime because bitcoin has a way of moving on after the news. News is a time to make quick profit and quick loss.
The news of SEC's "harassment" of Binance isn't even catching on like a wildfire as one would expect with such magnitude of news and I think it's because the market had already developed a mindset of a bull rally before now. I shared this similar opinion in another thread. On the general; Bitcoin, just like every other coin/token moves with news. The news may not be volatile just like we've it now with SEC roughing it out with Binance (the topmost exchange as it's now) or when it was volatile during the FTT exchange collapse. It shouldn't surprise anyone as every business is moved by news whether online or offline.
1295  Other / Beginners & Help / Re: Is there anyone else who shares the same sentiments? on: June 12, 2023, 05:07:34 PM
The market would have reacted differently if it was an attack on the network. Am I correct? I don't know much about the technical aspect of Bitcoin, but this is the best possible explanation I can think of for what is happening. Is there anyone else who shares the same sentiments?
The sluggish reaction of Bitcoin (or the entire crypto market) to the negative news orchestrated by SEC and Binance tussle is, in my opinion, goes to show that the market is maintaining a bullish mindset. Yes, we know that Binance isn't Bitcoin and that Bitcoin is decentralized but we shouldn't jettison what ripple effects are. If this same happenstance had come up in 2022, I'm sure the entire market would've taken a beating just like what happened when the FTT exchange had issue.
1296  Economy / Trading Discussion / Re: Gambling is different from trading on: June 12, 2023, 04:03:29 PM
~snipped~
Do you really think that gambling is easier to earn, or did you mean that it looks easier for the player?
Whatever thing that will cause someone to lose money can't be addressed as easy, really. What I tried to explain in that comment was the lack of planning in gambling which should've come from set skills if it were in trading. I think Zilon in their comment puts it in better perspective there. 👇..

A trader who does not have a strategy is a gambler...
1297  Economy / Speculation / Re: How much ,as you think ,is 1 bitcoin in 2025? on: June 12, 2023, 02:18:11 PM
If it is still here by then, there is extremely high probability that the price will be over 10,000.  I would say that it would even be 100,000 by then.

My guess is that at 12 years later from now one single coin shall be sufficient to buy you a top-grade riverside apartment suite like this. A lad said that at that time we shall all be wealthy elites sure as hell!  Grin


I think those two users are likely going to be right with their prediction. We're barely two years away from 2025 and already the second speculation of what 1 Bitcoin could buy is fulfilled. At the last ATH in 2021, a single Bitcoin could buy that seaside apartment. I share in the sentiment that Bitcoin will get to $120k – $150k in its next ATH in 2025. My thought is this, if there were people who saw tomorrow ten years ago and believed that Bitcoin could get this high; did they buy enough to hodl?
1298  Other / Beginners & Help / Re: What is ahead is very dangerous on: June 12, 2023, 09:44:38 AM
OP, That's not even new. Scammers keep recycling and tweaking their strategies whenever they feel they aren't getting enough catch from them.

If they want airdrop from Optimism, they must follow up Optimism's official website and channels.
Sensibly, that should be the first call of action from anyone. Sadly, most people wouldn't even remember to check them because of their greed to rush and claim what they think is from Santa Claus 😆. I've always maintained that there's no free lunch anywhere. Look closely whenever one is offered and you will discover there's a catch somewhere. Maybe before 2017, airdops were a thing and profitable then but I don't think they're this day. Newbies, beware.
1299  Bitcoin / Bitcoin Discussion / Re: Can They Find A Way to Do It To Bitcoin? on: June 12, 2023, 09:13:24 AM
I mean what they're doing to exchanges....
This seizure and high-handedness of governments across nations used to scare the shit out of me in 2017 as a noob. I was easily apprehensive whenever I read anything negative about Bitcoin and the wavering policies and bad press from government. It was until after the Chinese ban in August or so of that same year (2017) that I braced up because I realized then that there was nothing a few people could do to terminate Bitcoin. So, don't fret.

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We know that the big miners control most of the mining power? if the big players can be identified in the top 5 countries and their governments collaborate, can BTC survive?
I read somewhere that it would take at least 51% of the miners to agree on a particular thing before anything that could disrupt Bitcoin would be effected. Even though your concern is reasonable here I doubt if that can be achieved.
1300  Economy / Trading Discussion / Re: Gambling is different from trading on: June 12, 2023, 08:06:25 AM
but people prefer gambling than trading
People will prefer gambling to trading because they feel it's a shortcut to getting rich. Again, gambling isn't as tasking as trading which requires mastery of set skills to become profitable. In gambling, whatever winning strategy that's deployed can't be termed set skills but tricks which are ways of cheating. If anyone plans to cheat their way to a jackpot or wealth, then that person should know they're taking a gambling.

Trading has to do with buying and selling but gambling isn't. That's just a simple way to look at it.
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