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Showing 20 of 76 results by Mr forfee
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Topic
Board Bitcoin Discussion
Topic OP
Can too many NFTs cause a BTC supply problem
by
Mr forfee
on 30/06/2025, 10:13:40 UTC
The truth is that
While inscribed sats NFTs aren't removed from Bitcoin's supply, they can reduce effective liquidity if holders are reluctant to spend them. This is a market behavior, not a protocol issue.
The real concerns are network-related
More NFTs mean more small UTXOs, increasing node resource demands.
Data-heavy inscriptions can clog blocks, raise transaction fees, and crowd out regular usage.
Even with billions of sats inscribed, it's negligible compared to total supply. But if it ever reached hundreds of trillions, it could have economic implications.
 It's not a supply crisis, it's a UX and scalability challenge.
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin and NFTs
by
Mr forfee
on 30/06/2025, 10:07:46 UTC
I had a thought and wanted to ask. Since Bitcoin Ordinals use each satoshi as an NFT Im wondering in the future if too many sats get used for NFTs could it create any kind of supply issue? Like Bitcoin has a fixed supply right? So if a big number of sats are locked in NFT. can it affect regular transactions or normal use of BTC? Just curious to hear your thoughts. Thanks in advance

The truth is that
While inscribed sats NFTs aren't removed from Bitcoin's supply, they can reduce effective liquidity if holders are reluctant to spend them. This is a market behavior, not a protocol issue.
The real concerns are network-related
More NFTs mean more small UTXOs, increasing node resource demands.
Data-heavy inscriptions can clog blocks, raise transaction fees, and crowd out regular usage.
Even with billions of sats inscribed, it's negligible compared to total supply. But if it ever reached hundreds of trillions, it could have economic implications.
 It's not a supply crisis, it's a UX and scalability challenge.

Post
Topic
Board Bitcoin Discussion
Topic OP
Bitcoin and NFTs
by
Mr forfee
on 29/06/2025, 21:52:11 UTC
NFTs are commonly connected to platforms like Ethereum or occasionally Solana. But now they've also made their way onto several other blockchain networks, including Bitcoin. Am an NFT lover, so its awesome to see btc dive into The world of NFT

It may come as a very big surprise, but the Bitcoin network has quickly emerged as a notable platform for digital collectible creators and enthusiasts. While its method of handling NFTs differs from the more straightforward systems seen on other blockchains, Bitcoin offers strong benefits in security, durability, and the ability to scale over time.

Bitcoin Ordinals use a novel system that assigns a unique identifier to every satoshi on the network. This method numbers each sat in the sequence it was mined, enabling precise tracking and authentication. The assigned number remains constant, even if the sat is transferred between wallets.




Post
Topic
Board Off-topic
Topic OP
Please does anyone know we're I can sell my artworks online
by
Mr forfee
on 19/06/2025, 08:25:44 UTC
I have been trying to get my artworks sold but I just can't find the right platform to do so
I need our help guys. Thanks  Sad
Post
Topic
Board Nigeria (Naija)
Topic OP
Do you know the timeline of key legislation of crypto in Nigeria?
by
Mr forfee
on 14/06/2025, 08:20:36 UTC
Back in 2016, the Central Bank (CNN) and the Nigeria Deposit Insurance Commission decided to look deep into Bitcoin after the whole MMM Ponzi scheme mess. Fast forward to January 2017, the Nigerian SEC strictly warned everyone that they weren’t backing any companies or groups dealing with cryptocurrencies. They made it clear that if you got into crypto, you were on your own when it came to any losses.

Then in February 2021, the central bank stepped in and told banks and financial institutions to immediately stop supporting cryptocurrency transactions, citing worries about money laundering and funding terrorism. A lot of people in Nigeria dealing with crypto found their bank accounts frozen, too.

Come May 2022, the Nigerian SEC rolled out new rules for how to issue and manage digital assets. They laid out how financial institutions should handle these assets. Plus, they set a hefty requirement of 500 million Naira (about $362,500) for crypto exchanges wanting to get a virtual asset service provider (VASP) license.

In May 2023, the SEC put out some regulations for digital assets, signaling they were trying to find a balance between completely banning crypto and having no rules at all. By December, they lifted the ban on banks managing accounts for crypto service providers. The central bank noted that global trends showed it was time to start regulating VASPs, which includes crypto.

Moving on to January 2024, the central bank shared some initial guidelines for banks looking to open cryptocurrency accounts, but they still can’t trade or hold these assets themselves. The guidelines are pretty strict on anti-money laundering (AML) and know your customer (KYC) rules, and banks need to set what they call “prudent” transaction limits and can’t allow cash withdrawals from crypto accounts.

Finally, in 2025, President Tinubu signed the new Investments and Securities Act (ISA) 2024 into law, which tossed out the previous Investments and Securities Act from 2007. This new act officially recognizes cryptocurrencies and other virtual assets as securities for the first time, meaning any business dealing with digital assets now has to register with the SEC and follow their rules. It’s a big step towards cracking down on fraud in the digital world and building trust.
Post
Topic
Board Off-topic
Re: The most boring sport to watch
by
Mr forfee
on 09/06/2025, 08:17:48 UTC
I think it's Chess
I never watch till the end, I sleep off everytime I try
Post
Topic
Board Trading Discussion
Re: How to deal with Emotional Swings in trading
by
Mr forfee
on 09/06/2025, 08:06:56 UTC
Go out and have some fun
Post
Topic
Board Trading Discussion
Re: What motivates you as a trader?
by
Mr forfee
on 09/06/2025, 08:02:51 UTC
The science of making profit
Post
Topic
Board Economics
Re: School or Skills?
by
Mr forfee
on 09/06/2025, 07:32:47 UTC
School is what increases our knowledge and helps us to make a future, while skills are what directly apply to our lives. If you have good skills, you will be able to solve your own problems. School is what makes it easier for you to learn and understand the world. Skills are what you use to help you succeed in life, which will have an important impact on our lives. The importance of school and skills is immense in almost all aspects of our lives.
In the world now, everyone is focused on solving their own problems and putting food on their families table. That's what matters. School just give an additional knowledge of things that ain't really important. Skills create a future for your and gives you a predictable end
Post
Topic
Board Economics
Re: School or Skills?
by
Mr forfee
on 09/06/2025, 07:26:29 UTC
The greatest people in the world now are people who use skills to progress. School provides you with government work which can never make you the richest person on earth no matter what kind of government work you possess. But using your skills and running your own business, being a boss of your self, your can achieve greater height than being employed by the government.
Post
Topic
Board Off-topic
Topic OP
Do online surveys still pay?
by
Mr forfee
on 14/05/2025, 07:29:50 UTC
Do online surveys still pay?
We're can I find surveys that pay well. You can share link, thanks
Post
Topic
Board Bitcoin Discussion
Re: What to do with Satoshi Stash? Jameson Lopp has a view.
by
Mr forfee
on 26/03/2025, 12:25:29 UTC
A new blog post appeared on Jameson Lopp

Against Allowing Quantum Recovery of Bitcoin


In this article, Jameson Lopp addresses the potential threat quantum computing poses to Bitcoin's security. Jameson outlines scenarios where quantum computers could potentially exploit Bitcoin's current cryptographic vulnerabilities to access funds, especially those in addresses with exposed public keys.
Lopp argues that permitting such quantum-based recovery would lead to wealth redistribution favouring entities with early access to quantum technology, undermining Bitcoin's principles of decentralisation and property rights.
He proposes some measures, such as implementing quantum-resistant cryptographic schemes, something that is relatively trivial, but above all, potentially rendering vulnerable funds (such as Patoshi funds), unspendable, to preserve the network's integrity and trust:


Quote
In Summary
While the moral quandary of violating any of Bitcoin's inviolable properties can make this a very complex issue to discuss, the game theory and incentives between burning vulnerable coins versus allowing them to be claimed by entities with quantum supremacy are a much simpler issue.
I, for one, am not interested in rewarding quantum capable entities by inflating the circulating money supply just because some people lost their keys long ago and some laggards are not upgrading their bitcoin wallet's security.
We can hope that this scenario never comes to pass, but hope is not a strategy.
The game is afoot!



The position is not new: I first heard of it in his talk at the "Future of Bitcoin Conference 2024," a video that is, by the way, linked in the above blogpost.

https://talkimg.com/images/2025/03/18/0Kc4z.jpeg

I highly recommend viewing this video before reading the blog post.

This proposal leaves me with mixed feelings.

What is your position on this proposal?
I think Ethereum might be more impacted than Bitcoin since most users reuse addresses because of its smart contract system. This could really really push the Ethereum community to find a "quantum safe" solution sooner, while Bitcoin may have a little more time.

Post
Topic
Board Nigeria (Naija)
Re: No such thing as a Perfect Strategy in Trading
by
Mr forfee
on 26/03/2025, 11:32:34 UTC
Yes theres no such thing as a perfect strategy in trading, but we all know that some strategies have given amazing results, Traders watch the market move and they make predictions about how the market will trend, So based on their study, they make their strategy. So many beginners of crypto trading who have not yet mastered how to predict,depend on this strategy to minimize risk and maximize profits by buying when the price is low and closing when the price has risen.
Post
Topic
Board Digital goods
Topic OP
I edit pictures and photos in a very professional way
by
Mr forfee
on 13/03/2025, 08:22:52 UTC
I edit pictures and photos in a very professional way
Bring your pictures for some quality edits at very affordable price thanks
Post
Topic
Board Digital goods
Topic OP
Am a music producer and beat maker
by
Mr forfee
on 13/03/2025, 08:18:59 UTC
Am a music producer and beat maker
Any kind of beat i can make for you
Get your unique beat now at a very affordable price
Post
Topic
Board Off-topic
Re: Am broke but she still wants us to date, why?
by
Mr forfee
on 12/03/2025, 21:14:54 UTC
You have made a good point there
Post
Topic
Board Bitcoin Discussion
Topic OP
Who says bitcoin has no futire
by
Mr forfee
on 11/03/2025, 08:41:47 UTC
A man called Eugene Fama  a key figure in modern finance, argued that btc was preordained to become worthless. His main concerns was  Bitcoin's volatility. This man refuse to understand that the decentralized nature and Supreme security have made it an attractive hedge against inflation and economic instability
Post
Topic
Board Off-topic
Re: AI Taking Over Jobs?
by
Mr forfee
on 04/03/2025, 09:57:52 UTC
This is why it is important for one to have different skills, if you place your focus and skills to be digitally based, no matter how good you are, you might easily get replaced by this wonderful AI. We need to focus on skills requiring emotional intelligence, creativity, leadership, and complex problem-solving—such as healthcare, education, and management roles, this are less likely to be replaced by AI. Lets spread our hands to different skills so that we wont stay jobless in case AI comes our way.
Post
Topic
Board Off-topic
Re: AI Taking Over Jobs?
by
Mr forfee
on 04/03/2025, 09:55:44 UTC
A friend of mine just lost her job as a graphic designer because the company switched to AI-generated designs to cut costs. It happened so fast, one month she was swamped with work, the next, she was let go. With AI evolving this quickly, which industries do you think are next to be replaced? It's sad and scary at the same time, maybe next year our plumber is AI robot. LOL!  Grin  Huh
This is why it is important for one to have different skills, if you place your focus and skills to be digitally based, no matter how good you are, you might easily get replaced by this wonderful AI. We need to focus on skills requiring emotional intelligence, creativity, leadership, and complex problem-solving—such as healthcare, education, and management roles, this are less likely to be replaced by AI. Lets spread our hands to different skills so that we wont stay jobless in case AI comes our way.
Post
Topic
Board Bitcoin Discussion
Topic OP
Can Bitcoin help a poor country or nation
by
Mr forfee
on 04/03/2025, 09:18:32 UTC
We need to know that crypto doesn't perform any magic. If the country is poor, the government should help its citizens  upgrade to a certain level where they can help themselves.

If you live in a poor country, how can you afford to buy crypto to help someone? Crypto isn't always the answer to everything. For some, spending a little on cheap coins might pay off, and they might have a big success story, but that’s not always the case.
 
Crypto doesn't end poverty, in fact, it can make you poorer if you don't know what you're doing.  if you have the right knowledge and resources, it can help you make a lot of money.