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Showing 20 of 95 results by Emjay24
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Topic
Board Economics
Re: World economic system, survival of the fittest.
by
Emjay24
on 09/09/2025, 13:37:27 UTC
From what I've observed in the economic system of the world, imperialism has been the major aim and objective.  
You are not far from the truth buddy "imperialism has been the main aim and objective in the world economy today" whereby some countries with strong military force will now start to extend it power and influence over other countries or territories all because they want to to control their trade , resources and markets all because they are stronger than those countries which is not making to me, I would have love to go deep in explaining things here, but for some reason best known to me I will end it, but those countries who are executing such power and influence over other countries and territories because they are stronger than those countries know themselves.
In some cases, some leaders of assumed weaker countries being haunted by assumed stronger ones because of some crimes is a conspiracy and setup carefully planned by the attacking country to have a reason to conquer and dominate the trades and resources of the latter just as France has been imposing friendship on Burkina Faso but their brave leader has been repelling them and they've even plotted lots of assassination attempts on him but he's escaped until today.
Post
Topic
Board Economics
Re: Smart money preoaring now for 2028-2029 biggest crash
by
Emjay24
on 09/09/2025, 13:16:15 UTC
It would be good if OP drops some proof to his claims, maybe some articles were could read up and perceive the idea in valuable articles, money charts or something to support his claims. We've been seeing people come off with such claims in the past, so it's not new at all. I believe this too would nip in the bud.
Post
Topic
Board Gambling discussion
Re: What is your perspective on the increasing number of casinos?
by
Emjay24
on 09/09/2025, 13:03:42 UTC
Almost every now and then, there is a new casino that is setup, each week, it is like there is a new casino where gamblers could gamble. I am aware that the competition in the industry is good, but more casinos mean more publicity for gambling, and more publicity for gambling means more gamblers definitely, and if there are more gamblers, we will have a higher chance of people who will turn up with a gambling problem or challenge.
There can be less number of gambling sites with effective and enough gambling ads that will make people to become addicted to gambling. Not all gamblers are addicts but some people become addicted even when there are gambling sites that are not many as it is today. Gambling problem has been a hot topic since many years ago and mobile devices make more people to be exposed to gambling.
This is true, I think it's mobile devices that brought the biggest addiction problems since it's more accessible and private, like your neighbor can even be gambling in an office environment with his mobile device and you'll think he's replying a mail or doing something useful. I've caught my colleagues before gambling during office hours with their mobile devices, such cannot be attempted with their official laptop since the supervisor can see from a distance that you're breaking the office law.
Post
Topic
Board Gambling discussion
Re: What is your perspective on the increasing number of casinos?
by
Emjay24
on 09/09/2025, 10:43:29 UTC
I am aware that the competition in the industry is good, but more casinos mean more publicity for gambling, and more publicity for gambling means more gamblers definitely, and if there are more gamblers, we will have a higher chance of people who will turn up with a gambling problem or challenge.
I like the competition because it would encourage existing casinos to find ways to serve their clients better in order to retain them.

More casinos poses a problem of identifying good ones from scam. Some bad actors might take that opportunity to defraud people

New casinos doesn't necessarily mean new gamblers, trust me, the influx of gamblers outnumbers the casinos more than a thousand to one. If you go into the streets and see the way even little children frequent physical betting houses, you'll be amazed, not to mention what is happening online.

Post
Topic
Board Nigeria (Naija)
Merits 5 from 2 users
Topic OP
Dust attacks, use cases and Protective measures
by
Emjay24
on 08/09/2025, 16:12:38 UTC
⭐ Merited by igebotz (3) ,Mia Chloe (2)
What is a dust attack?

A Dust attack is a scenario whereby an attacker sends tiny amounts of bitcoin (dust) to an address. It is a coordinated attack usually sent to numerous addresses, often thousands of them at a time. This kind of attack is not harmful initially when the dust sits in the address and as such the victim might ignore them but when the victim spends the dust together with other UTXOs present in their wallet(if the wallet automatically includes UTXOS during transactions), the attacker can analyze the transactions and have the leverage of linking multiple addresses together and deanonymizing the user.

Diagrammatic representation:



Why dust attacks are initiated

- Linking of wallets Chain analysis companies can initiate such to deanonymize wallets and be able to link certain wallets to a real person.

- Phishing attack:Can serve as a conception phase to a social engineering/ phishing attack as scammers can include OP_RETURN messages of links to phishing sites which can lead to assets loss.

Illustrating this attack



Protective Measures against dust attacks
- Use of modern wallets: Thankfully, some modern wallets like electrum has features that allows you to mark the dust input as "Do Not Spend" which would prevent you from accidentally spending them in the future.

- Migrate funds: You can choose to create a new wallet and migrate other inputs to a new address, leaving the dust behind.

-Using Mixing features: You can opt to use COIN CONTROL feature to enable you manually select the UTXOs to spend, although this is an advanced feature and needs good understanding to use it.
Post
Topic
Board Beginners & Help
Re: Are there any crypto exchange making services?
by
Emjay24
on 06/09/2025, 14:19:33 UTC
Are there any crypto exchange making services?
https://github.com/Polygant/OpenCEX
https://medium.com/@webmaster_94256/all-in-one-cryptocurrency-exchange-script-with-source-code-8c739c10c478

Well I just hope this is for some sort of experiment or practical and not actual business usage since these codes are from third party sources and there is no guarantee there is not an open backdoor, remember it is people's funds you're dealing with, more reason you should hire a set of professional developers to build from scratch or update the security features and customize any third party source code you use. financial systems is a very serious business and not one you should cut around corners with lest you end up being penny wise and pound foolish.



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Is it possible to create a CEX exchange (without KYC and regulation) or DEX exchange with the help of site making services that would be understandable for a beginner without knowledge of coding
CEX is centralized, meaning it conforms to the regulations of the government, so there is not going to be any CEX without KYC
Post
Topic
Board Economics
Re: The curious case of Bitcoin's fixed supply
by
Emjay24
on 06/09/2025, 14:06:46 UTC
While we cannot conclude on the future, but presently, there is no altcoin, stable coin or even shitcoin that comes close to the value bitcoin possesses. Bitcoin is not only a crypto asset but a revolution that is reshaping the financial world and it's decentralization and censorship resistance features is giving people back the power over their finances which the government stole a long time ago with its monetary control system. Fiat printing is endless which reduces it's value continuously but bitcoin fixed supply is a tool that has made bitcoin very valuable as demand for it would continue to supersede supply.
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Topic
Board Economics
Re: Political aspects of cryptocurrencies
by
Emjay24
on 06/09/2025, 13:59:46 UTC
Being poor doesn't prevent you from developing your skill and selling your skill. If you don't want to die as a poor person, then work hard. Don't depend on a single income source. Don't blame politicians; you can't change anything. Rather develop yourself and convert money to crypto to hold it longer.
This is where I really want to come in. being poor is not the problem but staying poor out of ignorance or lack of desire and action to get yourself out of poverty. The solution is not to keep complaining and do nothing, complaining solves no problem, rather it creates more. So get down to work and improve your finances and take advantage of smart opportunities in bitcoin and your career, even though you wanted to change the world and how it functions, surely you cannot do it as a poor man, you must be a man of affluence before your voice can even be heard.
Post
Topic
Board Economics
Re: what are the best ways to save cost?
by
Emjay24
on 06/09/2025, 13:13:58 UTC
While you think about ways to cut down expenses, I think you should be giving concentration to ways to increase your income since the expenses keeps coming, I have decided to have a small business besides the one I am doing currently to boost my income. I grow some of the regular things we consume like vegetables, plantain and cassava myself but the economy is still hitting hard and it becomes very important to have a form of additional or passive income source.

I feel if I can expand on these things I grow and have more quantities of it while expanding to possibly poultry and fishery, I can make money from there to buy things that I don't produce so in that aspect my feeding takes care of itself automatically without being catered for from my earnings and still provide some passive income for me, then that should be a good way of not only saving cost, but boosting my income.
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Topic
Board Bitcoin Discussion
Re: Is Bitcoin Solving inequality?
by
Emjay24
on 04/09/2025, 14:29:11 UTC
A report showed that about 1% of Bitcoin holders control 99% of BTC supply, which means if the price keeps increasing, a new set of elites with be created.
99% of Bitcoin supply have not been mined yet, only about 93.6% which shows the report is wrong even without looking at it. Maybe by 2140 we would have an accurate report of the distribution of mined Bitcoin
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Topic
Board Bitcoin Discussion
Re: Is Bitcoin Solving inequality?
by
Emjay24
on 03/09/2025, 11:57:59 UTC
I really had this question in my mind and wanted to ask was that one of the core principle and aim of Bitcoin is providing equal services and treat people equally without discrimination. But If we look at it from the perspective of "Power" it is creating a new generation of people who hold power I.e the early adaptors of Bitcoin (whales) who hold significant economic influence because they accumulated Bitcoin was undervalued.

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.
It's their luck they found out about it when it amounted to nothing and their dedication and good belief system that they held onto it until now, Bitcoin is decentralized, meaning the power is distributed to everyone to wield as much as they can by accumulating it for themselves.

You can grab your own future power by stacking now so that in the future when the price goes really high you've enough to feel powerful in your own little way.
Post
Topic
Board Economics
Re: Banks and the prospect of holding Bitcoin as reserves.
by
Emjay24
on 03/09/2025, 11:46:45 UTC
Banks use tools as a store of value by holding some assets in reserves, for various economic benefits. Although, adopting Bitcoin in such capacity, would have it's pros and cons.
What is the cons of making bitcoin a reserve in the national level? I do not see any cons about it. Only what I see are pros because bitcoin is different from the fiat the countries are using because bitcoin is deflationary. Bitcoin price may fall in short period of time but it will later increase, get to all time high and still increase more.
There are cons, maybe on the individual bank level, they have to go through long and strenuous regulatory protocols to keep Bitcoin reserves directly which is why some of them feel better to invest into the spot ETFs, since the ETFs operate on already established regulatory guidelines.
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Topic
Board Economics
Re: The struggle for rare earth metals.
by
Emjay24
on 03/09/2025, 11:16:53 UTC
~snip

I became interested in this topic because of the current happenings in my area. We started seeing an increase in the population of foreigners (mainly Asians) around our community. Most of them are engaging in illegal mining of materials that we don't know. Some of them were arrested and we later discovered that they were mining some rare earth metals.    

Moving to another country to extract rare materials without permission already tells that there are flaws in the system.
Some parts of the Asian and Western world has always find interest in other people's rare earth metals, especially in those third world countries. What if someone was actually paid?. It happens a lot in so many third world countries. These foreigners makes a deal with either the government or anyone in charge, in exchange for their earth metals.
Sometimes these foreign companies do it smartly, but it's still robbery. Now they come into the country with one excuse of handling a different contract, then they secretly scout for where these rare earth metals are and when they detect some costly ones, they find a way of buying the properties, sealing the whole environment and secretly turning it into a mining and extraction site.
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Topic
Board Economics
Re: #1 economy problem
by
Emjay24
on 03/09/2025, 10:58:44 UTC
Ever thought about what is the #1 problem all countries face? I searched and multiple sources said that an economy's number one problem is scarcity. There is an unlimited demand from humans but there are only limited resources. It becomes now a problem when the government has to answer these questions:

1. What to produce?
2. How to produce?
3. Whom to distribute the product?
Governments doesn't really need to answer these questions since there are entrepreneurs who would sharply identify the needs of people around and turn it into a business activity.

This is why the private sector is very important to coexist with the government so they can provide supplies of direct consumers need and make a living from satisfying clients and revenue for the government.

On the other hand the government is needed to regulate their activities so their actions are properly guided in the interest of the public they serve.
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Topic
Board Gambling discussion
Re: Parlays vs straight bets
by
Emjay24
on 03/09/2025, 10:50:22 UTC
I think I'll go for parlays, although I know very much that straight bets increased the chances of winning since it's only individual bets, but the financial implication can lead someone to easy addiction from chasing lost capital for recovery if you lose, but I'm parlays, you can try out your luck several times and not even spend as much money as possible when you use straight bets.

You have more betting options and a lower probability of winning; you should bet correctly on all your bets to get a good win.
I once placed a random multiple bet with $3 and took home about $450. I know I had a good dose of luck, but by playing games considered low-odd and therefore with high odds, I got this.
Unfortunately, this isn't always the case.
Do you consider what you'll lose if you used straight bets and it doesn't go your way? For me somehow it's a trigger for addiction and big financial loss when you ever a losing streak while using straight bets. It crosses the line between gambling for fun and gambling for profits sharply.

Anytime I'm gambling on straight bets, I'm surely not gambling for fun because I'm always prompted to use funds in not ready to lose therefore I'm more about recovering my money with profits more than actually gambling for the fun
Post
Topic
Board Gambling discussion
Re: Parlays vs straight bets
by
Emjay24
on 03/09/2025, 00:34:25 UTC
I think I'll go for parlays, although I know very much that straight bets increased the chances of winning since it's only individual bets, but the financial implication can lead someone to easy addiction from chasing lost capital for recovery if you lose, but I'm parlays, you can try out your luck several times and not even spend as much money as possible when you use straight bets.
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Topic
Board Economics
Re: How institutional investors crushed the dream of making it big in crypto
by
Emjay24
on 03/09/2025, 00:28:39 UTC
But institutions don’t like high volatility. That means crypto enthusiasts should forget about Bitcoin doubling in price after every halving. Crypto is gradually turning into a more ordinary asset, much like stocks or forex.
I'll agree that dude to the price of Bitcoin being higher currently, it may not be very easy to see price doubling it more in a bull run, but not for this current bull run since it's not over yet and we've seen almost a double of the previous ATH.

Still we cannot be entirely conclusive on that fact since more institutions are getting interested and would be adopting in subsequent bull runs. My major concern is that the more such institutions purchases in bulk, if triggers more wins for centralization against the decentralization if it was individuals adopting it at such margin.
Post
Topic
Board Nigeria (Naija)
Re: Auto Bitcoin converter to naira.
by
Emjay24
on 03/09/2025, 00:09:13 UTC
Nice discovery OP, this would really be of great help to the flexibility of your business preparations as Bitcoin enthusiasts would be very comfortable to patronize you bearing in mind that you accept it as a medium of payment. Maybe you can add it to your branding and even your billboard. A little advertising would make more clients willing to visit your shop and patronize you because seeing establishments in this country which accepts Bitcoin as a medium of payment is really scarce.
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Topic
Board Beginners & Help
Re: A brief of what you need to understand about fee rate and Depth
by
Emjay24
on 02/09/2025, 23:52:52 UTC
OP, it is nice that you have come up with this article. I am not a tech guru, but at least I have been in the space for a little while now, and what I know most is that the higher the amount one puts as a transaction fee, the faster the confirmation, but sometimes it seems there is no competition on the mining block rewards (please spare my choice of words), as one can set a little transaction fee and it is quickly confirmed.
This is because at those times the mempool is less congested and the depth of the mempool is very shallow, so the acceptable fee rate goes low since there's not many transactions for miners to be selecting only those with higher fees. They include almost every transaction into their block and get it confirmed, even those with fees lower than acceptable fee rate.

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Lastly, I had an experience with the Trust Wallet app when I tried to transfer some Bitcoin to another wallet, but whenever I tried to do such, I always got an error message as UTXO ERROR, even when I increased the fee, the same response I got, and I did this repeatedly, thinking it was a network error. I checked for a wallet update, and the wallet version is up to date. I had to download another wallet and import the private key into the wallet, and I did my transaction without adding any fees. This made me wonder what really happened because I thought that if I increased the fee, the transaction would scale up, but it did not. Can you explain what really happened there?
I would wait with you to get the reply on this because I've never heard of a Bitcoin transaction that got confirmed without fees.
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Topic
Board Politics and society (Naija)
Re: Balancing Financial security and Bitcoin Accumulation
by
Emjay24
on 02/09/2025, 19:56:05 UTC
Still you may decide not to hold cash, but rather near cash equivalents that at least give you some yield, like short term debt, easier in the form of a mutual fund.
I think it's a good idea to keep cash in an emergency fund.
Not necessarily bro, it's very fine to keep it in a financial system that doesn't experience much volatility, it would've been best in Bitcoin but the volatility is a great problem now.

For  people with currencies that crashes against the dollar, they can keep them in stable coins like USDT to reduce the impact of inflation on it or you can even place it in the save option in a microfinance Bank app so it's there getting you little profits while you can break it anytime emergency comes.