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Showing 20 of 2,202 results by Ambatman
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Board Development & Technical Discussion
Bitcoin block halving a criteria for Bitcoin survival
by
Ambatman
on 26/05/2023, 06:23:52 UTC
Before I start please I don't understand this statement
Quote
No third-party sites/clients, bug reports that do not require much discussion (use github), or support requests.

Change is usually accompanied by some resistance, and Bitcoin aim was to deviate from the traditional reliant on centralized to decentralized, was satoshi reason for halving to increase the public knowledge on Bitcoin before it is fully mined?

If there wasn't any halving Bitcoin would had been fully mined around 2019-2020 with 50Btc per block, would it have been another digital currency implementation failure or would it still be surviving?


Post
Topic
Board Nigeria (Naija)
Early Bitcoin adopters
by
Ambatman
on 07/05/2023, 18:03:29 UTC
una well done

Okay most of my question na about mining sha

I go like know how e b wen una start una mining
Like no institute dey wey dey teach am so how una take grow una knowledge

I just find out say this forum dey since 2009, but why e nor popular? because me just find out this year

The Bitcoin miners here una dey mine Bitcoin secretly abi government nor get issue with ahn

Our light matter nor dey affect the mining machine?

if I wan start mining wetin go b d challenge wey I go face

I find out say many people here dey code abeg coding dey important to mine Bitcoin?

Okay my question don dey too many.

As I first talk am title dey hard me run

 Thank you as una answer
Post
Topic
Board Development & Technical Discussion
Recommend a non custodial wallet for IOS
by
Ambatman
on 22/05/2023, 06:55:55 UTC
I want to move my Bitcoin from my trustwallet to another hot wallet that is compatible with IOS

Read here of some things a good wallet should posses but not in trustwallet.

The platform supports Electrum but I saw it wasn't compatible with IOS.

Quote
Just when I thought ledger can't get any worse... they release this ''revolutionary'' stupid idea  Roll Eyes
seeing this prevented me from diving into ledger.

Am in need of a wallet for IOS that supports RBF, multiple address generation among others.
Post
Topic
Board Beginners & Help
Re: Beginners & Help Encyclopedia
by
Ambatman
on 22/05/2023, 15:02:05 UTC
Okay am bumping this.

Not sure why its not pinned yet but...

I am sure that if am able to finish this Post's there's no way I would be called a newbie.

Admire the dedication put into this and the post referenced.

Would be an honor to make this list one day.

Please can you add this if it's not here already Terminology.
Post
Topic
Board Beginners & Help
Re: Suggestion
by
Ambatman
on 18/06/2023, 15:25:15 UTC
Quote
They were concerned that if the internet were to go down today I would lose all my investments.?
The internet going down is almost impossible
there exist no switch or central command that can be destroyed
Even in the face of nuclear weapon the internet would still stand strong
Only the region would b affected not the internet
Anything that brings down the internet
Would be something that can threaten our survival or all electronics
Assuming it shuts down
The Bitcoin blockchain will stop producing new block
But would resume once the internet is back on
The internet is not a want
It's a necessity
Definitely, the goal would b to bring it up if it gets down
In all its unlikely and if it occurs
I believe your investment would be the last thing you would think about.
Quote
They also asked why the currency of cryptocurrencies is valued so highly.?
Short answer Bitcoin potential.
Long answer: Check on the advantages of cryptocurrency and why Bitcoin was created
The 2008 bank crisis brought distrust on investors with saving their money in Banks
Bitcoin was able to create a market from that and unlike fiat money Bitcoin itself is limited in supply and inflation resistant .

Post
Topic
Board Bitcoin Discussion
Re: Blockchain events: Entertainment or valuable experience?
by
Ambatman
on 18/06/2023, 10:21:47 UTC
I saw you in an ongoing thread about blockchains event
I can't really think of a reason you had to create another
Different people already gave their views in the thread that covers most of your question in the questionnaire
Quote
And you know, I have analyzed these events, but there is one question left.
if you had analysed and done your research you should have seen the type of people that attends( investor's, developer's, enthusiasts etc)
Well personally never been
Not something have seen or been held in my country am aware of
Currently not interested since I see no benefit for me
Except from knowledge which I can just ask here
Post
Topic
Board Development & Technical Discussion
Re: Bitcoin block halving a criteria for Bitcoin survival
by
Ambatman
on 15/06/2023, 21:55:15 UTC

Bitcoin mining does not grow expensive due to centralization of mining hashrate except they try to manipulate the network. What makes mining more expensive is the introduction of more sophisticated mining gear.


- Jay -
I never said it did
You said hash centralization wasn't in the hand of the government
Was just trying to point out that's its still in the hands of centralize group
Doesn't mean its any better.
Yeah am aware that the hardware(ASICs) upgrades to increase hash per second are expensive thus the increase in Bitcoin mining cost
How is the reduction independent from mining sector?
I thought halving reduces Bitcoin mined per block
Higher hash rate are needed for higher computations to validate transactions and expensive hardwares boast of better hash per second.
As the halving continue it would get harder to get a Bitcoin so miners would continue to pool resources together to get better machines to create higher hashes
Post
Topic
Board Development & Technical Discussion
Re: Bitcoin block halving a criteria for Bitcoin survival
by
Ambatman
on 15/06/2023, 19:57:02 UTC
Hashrate centralization does not put bitcoin in the hands of governments.

- Jay -
But in the hand of a centralize group? Bitcoin mining grows more expensive so is the Bitcoin mined per block reduce every four years
This I believe would continue increasing centralization
Which is somehow different from the goal of decentralization

The poor SNR and abuse isn't unique to Bitcointalk though it reached uselessness earlier than some other channels... I think probably the lack of discussion worthy activity is circularly related:  Interesting changes take collaboration, no one will collaborate when all the venues are toxic, without interesting changes there is nothing to discuss except toxic bullshit, wash rinse repeat.

I guess you have been unfortunate to experience or seen this. You said interesting changes take collaboration, does that mean there's like a group that focuses on Bitcoin core developments?
In the case of Halving, I believe what you saying is halving was a way for Bitcoin to strive but not the only way
Bitcoin halving is as shocking as examples above but here is the deal, this shock makes Bitcoin very, very popular because everyone expects price to rise, everyone starts buying and holding.
And then sell after the hype to buy the dip and wait for the next halving
Post
Topic
Board Bitcoin Discussion
Re: A Resounding Assurance of Bitcoin's Dominance.
by
Ambatman
on 15/06/2023, 17:39:33 UTC
A person that would need assurance on Bitcoin dominance and resilience know nothing about what Bitcoin entails
What it has survived
Why it was created
And the need it came to satisfy
Bitcoin has passed through many turbulent situations like the Bankruptcy of FTX which lead to a dip due to sentiments but it still stayed strong like a Cockroach.
Bitcoin would face more difficulties, changes is usually accompanied by some resistance.
The Government(SEC) attack just means we in the right path.
Post
Topic
Board Development & Technical Discussion
Re: Are Bitcoin LN POS terminals the future of bitcoin payments?
by
Ambatman
on 15/06/2023, 18:58:25 UTC
According to @ETFBitcoin a contactless card already exist the Bolt card by coincorner and the audience is pretty low
I still can't see how its better than using Mobile wallet since losing the card would allow any body make use of the card without been traced
If it occurs who would the person report to?
I still find having POS terminal for Bitcoin similar to traditional method of using third parties
This is like centralized exchanges acting like banks and issuing ATM's

The question should be are second layer network the future of Bitcoin payment? Lightning network won't be the only second layer network by then and besides by then the transactions made would be freaking high, can lightning network alone solve the scalability issue?
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Topic
Board Nigeria (Naija)
Re: Bitcoin flasher
by
Ambatman
on 28/07/2023, 05:30:22 UTC
Someone is trying to help you out and you're laughing. Based on the question you asked one can easily conclude that you are indeed a newbie with zero knowledge about bitcoin and cryptocurrency. Take Hyphen's advice, it will help you.
No offense, but I laffed
Because I found it funny since I have read
The thread @Hyphen recommended.

This is the first time o am hearing of such name like bitcoin flasher and i am curious to know how that works, i know of fake alart and even the so called fake alart if you are smart enough, it wont take your 5 seconds to discover which is fake alart from real alart from your bank.

I believe same thing also, so just like the first comment pointed out several ways for you to verify Bitcoin transactions, let me add this to it, if anyone sends you Bitcoin, all that you need to ask to clarify things is to demand the transaction Id/harsh, that way you can verify the transactions on the blockchain.
That's what I thought until I found this
Quote
Yes, you can track the live transaction on blockchain explorer using TX ID, Hash, Block, or Bitcoin address
so wanted to confirm how true it was.
The flasher enables the transaction to reflect
on the blockchain and wallet
But remains unconfirmed
I didn't understand how that was possible
Hence the thread.

Post
Topic
Board Nigeria (Naija)
Re: Bitcoin flasher
by
Ambatman
on 27/07/2023, 17:13:22 UTC
Thanks.
Lol but I think I have basic knowledge about Bitcoin
My question was on Bitcoin flasher
Have never experienced it or seen it
So wanted to know how it works
And if anybody has come across it
I never said I was venturing into any business about crypto
Personally I feel it's too risky and not regulated
Post
Topic
Board Bitcoin Discussion
Re: A bitcoin obsessed university lecturer.
by
Ambatman
on 27/07/2023, 15:07:54 UTC
The reward system is nice
But shouldn't be tied to cracking a Bitcoin wallet
They should focus on their course of study
Bitcoin may relieve student debt doesn't mean its an appropriate method
What about in countries where Bitcoin are illegal?
Bitcoin trading or Holding requires patience and time
Personally' I don't really take any teaching
that's been excessive serious.
Bitcoin awareness isn't all about understanding its technicalities
There are better ways to assist students or creating Bitcoin awareness.
Post
Topic
Board Nigeria (Naija)
Bitcoin flasher
by
Ambatman
on 27/07/2023, 15:24:40 UTC
I jam one post https://bitcointalk.org/index.php?topic=5461151.msg62606649#msg62606649
 wey dey talk about issues wey business people
dey experrience wen dem dey use bitcoin for their business.

We don hear about fake alert dem yahoo guys dey use
I jux find out las week say sth like dat dey bitcoin
Dem dey call ahn Bitcoin flasher
Example na coin celler
e fit let person send fake Bitcoin wey go reflect
But go commot after some days
I hear say e get some people here wey dey buy and sell bitcoin to people
If u don hear about ahn
How person fit take know or avoid ahn?
Abi na Cex una take dey run una trades
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Talmud (or Order 2.625 Bible)
by
Ambatman
on 30/07/2023, 00:02:59 UTC
@OP wall test with no bold test or lines are kinda hard to read
I wasn't planning on checking out because of the layout
But I'm glad I did
I have come across views on how game theory was applied by satoshi
It was really fun but not absolute
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From a game theory perspective, Satoshi Nakamoto also devised a version of the "Game"
makes it seem like
It has been proven that satoshi devised a version.
As it's already been seen
Satoshi was a good economist
So he would have applied different model including the game theory while creating Bitcoin.
About the 2.625BTC am curious where the 8M came from
Quote
My choice for the number of coins and distribution schedule was an educated guess. It was a difficult choice, because once the network is going it’s locked in and we’re stuck with it. I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that’s very hard. I ended up picking something in the middle. If Bitcoin remains a small niche, it’ll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there’s only going to be 21 million coins for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000. There’s plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it’s now displayed as 1000, and 0.001 is displayed as 1.
from the supposed email reply of satoshi to Hearn.
There are other theories but I'm not stressing myself over it
So sticking with an educated guess.
Post
Topic
Board Bitcoin Discussion
Re: Full relay : cost and benefits
by
Ambatman
on 29/07/2023, 19:13:29 UTC

The strength of bitcoin is based on its decentralization so it will be higher if the nodes are higher and scattered into different individuals so if a substantial portion of the network is controlled by a group with opposing values, it may create distrust among users and investors. This loss of trust could result in decreased confidence in Bitcoin's utility and long-term viability.
Opposing view is vital in Bitcoin decentralization.
Supporting views might create an hive.
Which would require a queen bee.
Even in the political system it check and balance power.
More opposing nodes would reduce efficiency
But would boost effectives.
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But even if you get only 7 Mbit/s in for instance Nigeria, you'll still be able to download the full blockchain in a week if there's no bandwidth limit (I can't find any data on bandwidth limits per country).
I believe its at least more than 15.7million Mbps.
Which was recorded by a company around 2021.
I'm not sure there's any full node user in Nigeria.
Not to mention we kinda skeptical
Towards 5g network.
Due to belief that it releases more radiation
Than other network.
So 4G is more popular here.
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I feel a systemic risk to the network that may drift momentum towards large users with unlimited storage and bandwidth in a way that may jeopardize security and decentralized nature of the network.
Yeah I understand your view.
Fortunately technological development isn't stagnant.
The faster the growth the cheaper the previous version's.
As long as technology growth is higher than Bitcoin's.
I would say there's nothing to worry about
I still believe scalability as a bigger issue for Bitcoin currently.
Post
Topic
Board Development & Technical Discussion
What will happen to a wallet when the wallet company closes
by
Ambatman
on 14/05/2023, 20:58:46 UTC
I know is nigh impossible for companies to last forever
So I wanted to know since most Bitcoin holder are HODL
What would happen to a wallet when the company hosting the wallet closes down?
Has any wallet company ever closed down before or experienced issue that affected holders Bitcoin?
Post
Topic
Board Development & Technical Discussion
Re: Recommend a non custodial wallet for IOS
by
Ambatman
on 22/05/2023, 14:02:07 UTC
BlueWallet, maybe? It's the one I'm using.

https://bluewallet.io/features

It has everything you mentioned and more:

Big thanks have seen its features.

It even has darkmode  Smiley

Already downloading it.

But from the thread link you posted there is another thread again by Charles-Tim that suggest other non-custodial wallets. Read through this link https://bitcointalk.org/index.php?topic=5422456.msg61326135#msg61326135

Oh thanks never knew about the thread

better still create new address since trust wallet is not open source
okay will just create a new address to prevent any but.
Post
Topic
Board Wallet software
Re: I want to migrate from Trust Wallet to another wallet.
by
Ambatman
on 22/05/2023, 06:40:10 UTC
I want to move my Bitcoin from my trustwallet to another hot wallet that is compatible with IOS

Read here of some things a good wallet should posses but not in trustwallet.

The platform supports Electrum but I saw it wasn't compatible with IOS.

While the review I read about ledger app wasn't encouraging.

Am in need of a wallet for IOS that supports RBF, multiple address generation among others.
Post
Topic
Board Beginners & Help
Re: Bitcoin is very safe coin because of good developers
by
Ambatman
on 16/09/2023, 17:20:44 UTC
OP must have done a lot of research
I found it educative
There are something's I would like to add
They are personal opinion's though
1. Bitcoin hacking is not impossible but so hard that some consider it impossible
2. Bitcoin target was decentralization before security, so POW was used not just for security but since it works better in a decentralized blockchain
3.Bitcoin isn't safe because of developers, Every user of Bitcoin play a role in its security and trust, The miners have their roles, full Nodes, even normal users usage and belief in Bitcoin makes it safe.

These are the few I could think of currently.
Thank you.