in addition to what o_e_l_e_o said, this could also show the growth of adoption. you see adoption is in different forms. one of it is when more people start trading bitcoin (more speculators) which translates into more people being on exchanges, buying and selling bitcoin. more traders means more coins in the pocket of exchanges which is their cold storage (keeping on behalf of their clients) and that increases their balance by a lot.
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So, the fastest way to create a safe bitcoin private key with the physical 256 coin flips is appox. 15-20 minutes.
since your tool supports it, try finding a 16 sided dice and roll that. these dies are also a popular way of creating random numbers (in hexadecimal format) and they are specially designed to be unbiased and produce a truly random result. the befit of it is that you only need to roll it 64 times which is a lot less than 256 times flipping a coin.
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there is no such thing as "centralized adoption", it is plan adoption. you can not put restriction on who adopts bitcoin and that's what being decentralized means. besides things like Bakkt, ETFs,... are good for bitcoin. it is not all about people getting on board, it is about the whole world with different views getting on board and just like any other currency a "trading market" is expected. by the way Libra has nothing to do with bitcoin.
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What about LBC? I have never used it before although I did want to, but it seemed kinda sketchy to me. However, I've seen lists of Bitcoin addresses found as collisions with older transactions on them or even still having BTC on them. How does that work, aren't they privkey collisions?
you mean "large bitcoin collider"? it has absolutely nothing to do with collision and yes it is very sketchy. what it does is to loop through private keys from 1 and increment them one by one, on each step get the public key, hash it and compare it with a hashes provided by puzzle and claims the reward if they found a match. the space they are searching in is minuscule compared to the 256 bit space that normal bitcoin private keys are in.
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I think China had banned Bitcoin around that point, probably that news echoed and reappeared a few times
did China ever ban bitcoin?!!! i haven't seen any reliable news that makes me believe they have banned it. i can find news that goes back to 2013 that has been saying "China banned bitcoin" but in reality they have never done such a thing. they closed down exchanges, shut down big scams, prohibited banks from investing in bitcoin,... and things like that which people interpret as a "ban"!
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~ But you don't answer the issue, how do you prevent a potential incompatibility of future versions of your encryption software?
any decent software like that will always keep backward compatibility in mind. it is not something they can skip and change the software so that it becomes incompatible! besides the algorithms used by these softwares are standard and are not going to change. in most cases you don't even need to reuse the same software! for instance AES became a standard in 2001 and for the past 18 years if you encrypted something using that, you can still decrypt it with any software the supports the algorithm. same with bitcoin BIPs, they are standards and they won't change. even if your software changed you can still find the standard and re-implement it.
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invest in what? altcoins? no never. at least not as long as there isn't any altcoin worth investing in. until they start creating projects that are innovative enough to have some sort of long term potential, i don't see anything changing for altcoins being pump and dumps.
in bitcoin? of course! bitcoin has long term potential as its adoption is growing and more importantly since the adoption that has happened so far is still so tiny (less than 1%) and it is actually used in the real world not just traded on exchanges!
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that picture from TradingView doesn't make any sense at all. in my opinion every single point on that chart from the beginning (take off) to the end (return to mean) are wrong. for example the take off here is set at around $3k while it started before that around $1200 when the previous ATH was broken. not to mention that in another view, the real "take off" started in 2015 when price reversed from the bottom and started going from $150 to $300 and had its first 100% rise.
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what kind of catastrophic event are we talking about here that could lead to annihilation of all nodes on earth worldwide that we need a space node?!! and what would we need that if the human race is extinct, or is it just extinction of computers on earth I'm talking about a meteor or asteroid hitting the Earth in the future, as many scientists have already predicted. If this happens indeed, then expect to see the Bitcoin network weaken in its entirety like never before. Even Stephen Hawking predicted the extinction of the human race within 100 years in the future. We should be prepared for any catastrophic event, by preserving breakthrough technologies (like Bitcoin + Blockchain tech) as much as we can. With nodes on several planets within the solar system, the Bitcoin blockchain will live forever. but in case of an extinction, who is left to even want bitcoin and technologies like blockchain! even if a catastrophe happens that wipes 80% of the planet, the remaining 20% aren't going to even care about "money" (that is bitcoin). they will need food and shelter, basically the very basic needs for survival.
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At some point you mistakingly sent Bitcoin to an ERC-20 wallet or sent it to an incorrect wallet.
it is like saying when sending an email instead of putting the email address in XXX@XX.XX format you put it in XXX.XX format and the email client successfully accepted it and sent the email! that will never ever happen unless the client you are using the the stupidest thing in the world written by someone who has no idea what an email address looks like. bitcoin addresses are 100% different from ethereum addresses. the first is in base58 while the second is in base16. even the character set is not the same, there is a HUGE difference. no bitcoin client will ever let you send bitcoin to an invalid address.
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In this image I put a private key that is missing 13 characters. If you can guess the password, you can have access to decrypting the characters needed to unlock the private key.
If anyone can crack this private key, they can have access to some Bitcoin I sent to it.
that's not a private key because as other user pointed out you capitalized all the letters which means you yourself won't be able to recover it without brute forcing! secondly, when you put up a challenge like this there has to be enough incentive for anybody to even bother looking into it. it is a work versus reward thing. 10 bucks reward would only be worth it if only 3 characters were missing true but would you rather have somebody find your paper wallet private keys in plain sight or give a challenge to the perp to securely prevent lost bitcoins. Of course I recommend you have another back up in a different location to prevent the central point of failure.
the "somebody" first has to - come to my home be able to enter it - then go through all my shit and find the keys wherever i have written them - then has to figure out whether it is a key or not since it doesn't look like it - then he has to sit down for a million years trying to break the AES encryption i have used on it
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I'm sorry but if you use bip39 words and compute the checksum, no one can even know the seed is fake.
A hacker who finds an empty seed or a seed with only small amount can suspect that it was modifier in some way, and then they will just run a program that cracks it. They can even configure a crawler or malware to do it automatically. LOL I think you're trolling me... What do you want to crack? LOL You want him to check all the seeds possible? In this case he will find yours too LOL the real question is "why would anybody want to do this". when you come up with a new way it has to have some advantage over other methods not disadvantage. lets take a closer look at your setup and compare it with the alternative. you say you have two parts: 1. something stored online (in the cloud) 2. something stored on a paper. the first one is the seed with some words changed as an encrypting technique and the second is the words that were changed as the key to decrypt it. what is the alternative? encrypting it with a strong password and storing the password offline on a paper (#2) and storing the encrypted seed in the cloud (#1). so what's the difference? you are still storing two things: one encrypted data and one key to decrypt it. the difference is that in the alternative way, the encryption technique is a very strong one (AES-256 for example) and it can not be broken but in first method the encryption technique used is not even close to being as strong as the alternative.
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there are some special strategies that some people use which require very high frequency trades and in a very small price space, you could find it in bots that are being sold! although i believe this strategy a terrible one but it is being used by many, in this strategy having a fee like 0.25% is going to eat up into their profit and they have to widen their price range which makes the strategy harder to perform successfully so they want a lower fee. i can't think of any other reason for wanting lower fee except just a competitive one.
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FOMO, IMO is one of the big reason of the bull run, and that time price could be overvalued so its our chance to sell our holdings especially for altcoins that is very cheap and undervalued at the moment.
i disagree. FOMO has never been the "reason" for any bull run. FOMO is only a temporary panic mode among a short percentage of the investors that are making irrational hasty decisions that causes a short term spike in price. it is the same as panic sellers that cause a short term drop. they are not the reason for bear market same as FOMO buyers aren't the reason for bull market. they are the reason for higher volatility. the reason for a bull market is always fresh money coming in and increase of adoption.
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~ why wouldn't you buy ETH?
because as a project in find ethereum to be terrible: it is centralized, it has a lot of issues such as exploits in their smart contracts, the scaling problems, the impossibility of running a full node because of its ridiculously huge space requirement (3.22 TB as of this writing, compared to bitcoin that needs ~300 GB), the lack of immutability, and generally being a bad project. on top of that it has unlimited supply which automatically makes it a bad long term investment. thanks for your input. what would your alternative suggestion be? I feel that these shortcomings are really a pain but I don't think the market will behave rational and ETH might still have a chance to go up. i personally have never "invested" in any altcoin ever for the past 5 years because i simply have not yet seen any coin that could show any kind of long term potential to me. all i see in altcoins is short term potential and the pump and dumps that take place every day. i only see that long term potential in bitcoin. there is no just a chance for ETH to go up, it is almost guaranteed for it to go up. but it won't remain up. it will fall after the rise which makes it a bad "investment" but a good thing for short term traders.
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you are doing two horrible things: 1. re-inventing encryption by doing weird things such as inserting the seed (un-encrypted) in another file type. 2. uploading it to a server!!!
just STOP. backup of something this important that could also be valuable (depending on how much you store) needs to be proper. this means COLD STORAGE not storing it online! and STRONG ENCRYPTION. just stick to what the experts have created for you instead of trying to come up with new ways. BIP38 is what you should use. it uses a strong AES encryption and with a decent password you can protect your private key very well. it also encodes it with base58 making it easier to backup and restore. you could use AES to encrypt your mnemonic (seed phrase) too. which is what you should do instead of using a zip file!
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and who will be paying this "reward" to the active wallets? you, out of your own pocket? or are you planning on starting another pointless ICO fund raising to get paid in real money while paying others with the out-of-thin-air tokens that worth nothing? not to mention that this is encouraging spam: Simon, has btc wallet with 10 transactions so he can get rewarded 100%
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since Electrum was mentioned above, i have to say there is no option to import a single multi-signature (private keys and redeem script) into Electrum. your only option is if the address was derived from master keys and you import those in Electrum. if your address starting with 3 was a multi sig then your only option is to use the core wallet.
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Also Bitcoin can help authoritarian govts evade international bans. There's always a back side of the medal.
no they cannot. the thing is when we talk about governments using bitcoin to evade sanctions,... we are talking about billions of dollars transactions not small amounts. bitcoin can not handle that kind of money going in and out of it (buy that much coin, and sell it on the other side). not to mention that a trade is still taking place and it still could be blocked. on top of that any government always wants to force their own fiat on others, they won't be willing to use bitcoin.
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