Bitcoin Forum

Yesterday I request I bitcoin testnet and was given by a generous forum user (BlackHatCoiner) . But to my knowledge, I thought the campaign that I would join will use bitcoin testnet instead mention signet, Id really thought this was the same but its different.

Now that I received bitcoin testnet, I would like to bridge it or converted it to bitcoin signet instead. Is there a way to do that? Or if none. Hopefully some bitcoin dev with signet btc tokens could extend a hand. Or lets swap my bitcoin testnet for that since the one send me the tbtc said I could keep it. Thanks for anyone that would response. Here is my signet btc wallet add.

tb1paajc692v6xa5t8c9gse905v4wmn803l0fltz8gmthcp0ez2mur0skzffp8

I could send the equivalent on testnet if you like to exchange.

Also if youre interested too in participating on the campaign I mentioned here it is.

https://medium.com/babylonchain-io/join-the-bitcoin-staking-revolution-5558ad66f5ef

No there isn't any way to do that. Both chains and their coins have no value so there is no mechanism to "trade" them and there is no reason for it either. There are 3 or 4 faucets listed in https://en.bitcoin.it/wiki/Signet#Get_some_coins that could give out these value-less coins. Other than that, like testnet coins someone has to donate them to you.

That is weird if not shady.
It seems like they want you to end up "locking" your bitcoins somewhere (mechanism isn't mentioned) then possibly give you some shittoken in return and call that "staking". This is not new either. Such tokens will not have a value for long.

Yes but right now its all not giving some drip. Too bad, probably my bet is due to the campaign I am participating. Well hope someone can send me some in exchange for bitcoin testnet.

Probably will give me some shittoken later on if ever Id success in doing some task or get the nft from the campaign. But Im not so sure if this token will not have value later on especially one of the lead Investor is their backer.

https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-babylon-to--support-the-advancement-of-bitcoin-staking-7487814519531776320

Shit or not. I think its worth joining to get some free money.

Sure. Take it if they want to give it away, as long as you are not putting your valuable bitcoins at risk by depositing them somewhere and your system at risk by installing some shady software.

As for the value, I can't predict what price it will have after launch but I can predict with certainty that it won't last because the model is flawed. You can't just pay people real money just because they own bitcoin. These things either turn into Ponzi schemes or a short lived pump and dump.

Of course I wont. I onky be using the testnet version for this campaign and not involved real asset like bitcoin, so theres no harm at all if no tokens or airdrop its fine too.

Maybe youve got some signet btc mate? Can I borrow hehe.

Well Im always believe until I see it died out. With their backer Im sure the price would be more attractive and even goes beyond expectation. Binance probably wouldnt invest on a shitty coin that would rug ebentually one day. If yes, they better fire their research interns.

If you create the same coinbase transaction in both networks, then yes, those coins will be connected. The same trick is possible even between regtest and mainnet, see: https://bitcointalk.org/index.php?topic=5479988.msg63437260#msg63437260

Also, there are other ways. In general, if people can trade between Bitcoin and altcoins, then you can use the same tools to do the swap between testnet and signet. For example: both parties can open 2-of-2 multisig channels on both coins, and then swap them, by closing those channels.

But I wonder: why do you need to swap anything, if you can produce coins on your own CPU? In case of signet, you can just change signetchallenge into OP_TRUE. And in case of testnet3, you can just locally connect two nodes, ignore the outside traffic, and simply put your system clock 20 minutes forward (and then, any block with the minimal difficulty will allow you to test mining).

Hey cause I had already testnet bitcoin but Ive just asked for this. Hey I am using OKX wallet for the signet bitcoin address since that was stated in the campaign I am joining. Actually just need few some of this bitcoin signet to try out the staking on the platform I am joining but the faucets for every signet Id try isnt working or maybe out of stock. Id love your respone but Im not that kind of techie when it comes to bitcoin other stuff. Thats why Im asking someone for help. Thanks fir the explanation.

Why don't you just fetch signet bitcoin from a signet faucet?

Like signetfaucet.com:

https://www.talkimg.com/images/2024/02/29/fAht9.png

It's going to take about 9-10 days in order to receive a payment from this faucet according to this screenshot, but at least it's better than the current mess that is testnet (scarce coins, now being stolen to make airdrops, long block waiting times, etc.) Hopefully you are able to wait that long.

Thanks for the heads up. Ive got it already on discord from the campaign I am doing. Yes some faucets Ive tried will take week or so to receive but the campaign wouldnt last that long but thanks for sharing this, Ive done the task and completed it.