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12881  Economy / Speculation / Re: Bitcoin Drops Back to $5K Price Support After Failed Breakout on: April 13, 2019, 05:17:16 AM
this whole terminology of this topic/article is wrong.

there were no "drops back" and "failed breakout". what happened was a rise from $3k to $5k in a short time then a correction after that "actual breakout" where price came back down from the highest level (~$5500) to ~$4900 as day traders took their short term profit and started getting ready for the next leg up.

apart from that we had the Chinese FUD circulating all over the internet trying to scare people into selling which was a small part of this "correction/drop". and we are already back to $5100+
12882  Other / Beginners & Help / Re: Best methods for an offsite backup? on: April 13, 2019, 05:03:06 AM
i would advise against storing sensitive information such as private keys online (specially to any beginners that are reading this topic). but here is my suggestions:

1- use a custom made encryption method instead of the regular ones. by custom i don't mean invent the encryption technique but instead i mean modifying the existing ones (preferably something that was not created by NSA Wink).
for instance BIP38 is using scrypt to derive the key and uses a silly 4 byte from the "address" of the private key as its salt.
* use a different salt (preferably one that is at least 8 bytes), it can be first 8 bytes of Blake2b_160 hash of your address
* use 32,768 (2^15) as its costparam (must be of form 2^n)
* with parallelisation = 1 and
* blocksize factor as 10
now you have a unique encryption method which you just have to remember these variables. and keep them secret only in your head.

2. split the encryption into two parts!
this is for ultra paranoid but still you can decode the result into bytes if it already isn't bytes. split it into two (like 2x 16 bytes) encode the results with your favorite encoder (base-16, base-64, base-58, ...) and store them separately in two different accounts.

ps. you have to understand the risks of such actions and also know what the changes mean. for example costparam isn't chosen randomly its value is defining the security of your derived key and hardship of brute forcing it. https://tools.ietf.org/html/rfc7914#section-14

pps. changing file's extension is not doing anything for you. a hacker is not going to look at the extension, he will read the file's content.

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I've also considered getting a CryptoSteel but it's fairly expensive and it still wouldn't be offsite.
an ugly version of CryptoSteel is if you buy a stainless steel plate, a hammer and one of those metal letter pack thingies (i don't know what they are called in English, it is a small metallic cylinder with a letter on its head. you put it on the plate and hit it with a hammer and it leaves the mark on the plate) and "write" your encrypted key on it.
12883  Bitcoin / Development & Technical Discussion / Re: [ASK] Are There Any Way To Know Parent Address From A Multisig Address? on: April 13, 2019, 04:34:00 AM
it is a very bad idea to call them "addresses" though! because they really aren't addresses.

let me start by explaining what an address really is. an address is a human readable encoding of a script. in Bitcoin (as the protocol, or at code level) there are no "addresses", there are only scripts. for instance when you say "1LRqsYChNsC5GmPtyN5bA8t9nL9UtDaCxZ" you are really saying
Code:
OP_DUP OP_HASH160 <d51d2b31200386ad59165469aee0ce9ecc39251b> OP_EQUALVERIFY OP_CHECKSIG
which is a script.

so if you translate 3LgUWbSkwvKoTdn8xexf7GqpVBRLwMs6TE  to 3 addresses (1LRqs..., 1KL1..., 16WX...) you are "translating" it into 3 false scripts. because when you say "3LgUWbSkwvKoTdn8xexf7GqpVBRLwMs6TE" you are really saying
Code:
OP_HASH160 <d0502aef18b86f9e9b2544801a5a8dfe17c49008> OP_EQUAL

the only "correct question" here would be to ask which public key(s) is/are involved in creating this address which starts with 3. in which case you can look at the transaction that spends that output to get the public key(s). but still translating it to addresses like what the link posted by @nc50lc is doing is wrong.
12884  Bitcoin / Bitcoin Discussion / Re: A finance bill gives the right for banks in France to offer crypto investments on: April 13, 2019, 04:27:38 AM
i don't know whether to be happy about this news or scared about it. mainly because it says "crypto-assets" which sounds to me more like them wanting to enter the altcoin ICO shenanigans and fuel the terrible state that this market has been in for the past 2 years. it is true that there is a lot of money to be made from these scams but they are also enabling them to pull these things off. and the damage of them on the whole market has been dire.
12885  Bitcoin / Bitcoin Discussion / Re: Blockchain hackable now ~ on: April 13, 2019, 04:11:49 AM
so our long said *non hackable cryptocurrencies*

nobody has ever said that.
the correct statement is "bitcoin is not hackable" not all cryptocurrencies.

and just because some shitcoin that has had lots of exploits as small as broken wallets to as big as broken multi signature design and lack of immutability and roll backs and exploitable smart contracts,..... gets exploited every now and then, you can't conclude that bitcoin is also the same!
12886  Bitcoin / Bitcoin Discussion / Re: AML Compliance for Crypto Exchanges! on: April 13, 2019, 04:00:12 AM
the more they push for centralization and imposing these types of laws on this decentralized world the more WE should push back for more decentralization and freedom if we truly understand what bitcoin is and want to use bitcoin not just fill our pockets with "fiat".

and it is time that we start slowly migrating to decentralized exchanges and leave all these centralized ones specially those that have become so big (like Binance) that are starting to think they define the market.
12887  Bitcoin / Bitcoin Discussion / Re: Shower thought. Why is Bitcoin hard to define? on: April 13, 2019, 03:53:06 AM
Bitcoin is much more, but it's very hard to find the words to describe it.

it only seems hard because we haven't had to do it that often. how many times does someone ask you what bitcoin is? if you explain it a couple of times then it will become easier. besides it is usually harder to explain things that we understand ourselves and have never had to explain them. for example if someone asks you "what is a bank", "what is starbucks",... you will have the same hard time coming up with some explanation.
12888  Bitcoin / Bitcoin Discussion / Re: Craig Wright Threatens Lawsuit Against Bitcoiner on: April 12, 2019, 04:20:35 AM
this sounds more like the social media drama that we keep seeing every day. otherwise Craig Wright IS a scammer so calling him "fraud" is only stating the facts. everyone already knows it, he knows it, and the court will also probably know it.
and since the evidence of his fraud is easily to find and prove he doesn't really have much of a case here.
12889  Bitcoin / Electrum / Re: Over 25k IP addresses are involved in DDoS against Electrum servers on: April 12, 2019, 04:12:24 AM
i still don't understand the motive behind this attack,

the motivation is "money"!
and since the attackers have already succeeded in fooling lots of people into downloading their malicious wallet and earn a lot of profit from it, they will continue their attack since they both have the money to cover the costs of the attack and the incentive to do it.
here is an example victim losing ~$450 https://github.com/spesmilo/electrum/issues/5262
12890  Bitcoin / Electrum / Re: Bitcoin Cash on: April 12, 2019, 04:05:05 AM
Not the wallets have to be trusted, but the developers.

actually you should not trust developers either (no offense to any of them but i wouldn't exclude any of them just because of their history). instead you should only trust in the code since everything is open source.
it is your money after all and the more you own the more you should care about what is going on under the hood even if you are not able to read code yourself.
12891  Bitcoin / Bitcoin Discussion / Re: Why is it forbidden to motivate others to buy Bitcoin? on: April 12, 2019, 03:38:22 AM
On this forum and crypto-related subreddits they won't let you give these kind of advices, like "Buy & HODL"
if the part inside the quotation marks is all that is said then it is NOT advice, it is nonsense. an advice is when there is some explanation included about why should anyone buy and why should they hold and for how long and lots of others. just spamming "buy and HODL" is not constructive.

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But then why the mainstream magazines can do the opposite and nobody complains?
We all know that they spread FUD news so that everybody sells their positions so that the Elites buy at a low price.
not necessarily. most of these news sites  are created by poor idiots who are trying to make "money" from their traffic and they are foolishly publishing crap. they may not even own any bitcoin themselves.

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Ask yourself: why did the bear run happen last year if the govs where buying?
you are wrong. a bear market is just as natural as a bull market. and it is a necessary part of the trends that any market has. and when we enter a big bubble like in 2017 seeing a bear market is inevitable.
the only thing you can argue about is the prolonged state of the bear market and certain suspicious drops. for example i myself find the drop from $20k to $10k the most healthy, from $10k to $6k less natural but still understandable due to the downward trend and fear and all the shorts. but i consider the drop below $6k to be pure manipulation.
12892  Bitcoin / Wallet software / Re: Question about public seed on: April 11, 2019, 04:09:45 AM
you can't use any words you like as your seed, half the words you posted here are invalid. why did you even post it? you do realize that posting your seed online is going to compromise all your funds, right?
12893  Other / Beginners & Help / Re: [GUIDE] What is Bitcoin Halving on: April 11, 2019, 03:55:53 AM
It is estimated that 6 blocks are mined within 1 hour meaning halving event happens each 4 years.
i think it is better if you stick to either smallest value (1 block every 10 minute on average) or stick to the biggest value (2016 blocks every 2 weeks) which is the time when difficulty readjusts and that  creates the 1/10min block time.

Quote
As Ethereum's Project's Development Leader - Vitalik Buterin stated:
let's not forget that unlike bitcoin which is capped at 21 million, ethereum has no cap so although they have reduced the block rewards for ETH blocks, it still is like fiat where you print it nonstop and inflate the whole thing.
12894  Bitcoin / Hardware wallets / Re: How to create a safe cold wallet using only an USB key. on: April 11, 2019, 03:22:33 AM
i still prefer doing it with a Linux operating system installed on the USB disk, that offers a lot more benefits: strong encryption, partitioning main part of the disk using a Linux specific format so that Windows doesn't recognize it, installation of software that you need for signing transactions like Electrum or Bitcoin-Core, storing your keys in these wallets with their encryption to add an extra layer of protection,....

that way you are basically creating a hardware wallet capable of signing transactions offline (that is if you disabled network on that Linux OS).
12895  Bitcoin / Bitcoin Technical Support / Re: Do you think BIP38 is good for keep my BTC safe? on: April 11, 2019, 03:08:59 AM
when you encrypt your private key using BIP38 you using two cryptography functions that are well known: AES and scrypt. so the security of it mainly depends on those functions and they are both widely used, reviewed and secure functions.
if some day you couldn't find a tool to decrypt your BIP38 encrypted key you can just ask a developer to take a look at BIP38 link posted above and write you a code (it will be less than 10 lines of code if you aren't using the EC-multiplied keys which normally you wouldn't).

in the end if you don't like BIP38 then simply use AES to encrypt your keys. you will find lots of applications to do it since it is a well known and well used encryption technique BUT remember that you need to know what you are doing and the application you use must be safe not anything you find on the internet!
12896  Bitcoin / Bitcoin Discussion / Re: Bitmain and Canaan Said China’s Proposed Mining Ban won’t Impact their Operation on: April 11, 2019, 02:51:33 AM
so the whole "china control mining" debate has been a propaganda thing, and in reality a NON ISSUE for a couple years now.
and its about time people stop trying to sound like fox news by shouting the words china in anything related to mining

then do it whenever it suits them. and it is always about the price. right now that the price has started entering the "rise mode" the FUDs are coming out again trying to break that trend. otherwise China is became old news about 2 years ago when they closed down their exchanges.
12897  Economy / Speculation / Re: Bitcoin Whales Have Started Splashing – This Rally’s Just Getting Started on: April 10, 2019, 03:58:13 AM
the thing is, accumulation has been going on starting from last year when price reached the actual bottom at $6k and every signal was telling you to buy. then with the "hiccup" that happened the same whales started dumping to get their money ready to buy the new bottom and then accumulation continued with lots more fiat in their pocket this time to buy bitcoin at a cheaper price.
right now we are seeing the rise because nearly everyone who has been accumulating is done accumulating! and the recovery is on the way.
12898  Bitcoin / Bitcoin Technical Support / Re: Use GUI to get raw tx. Can you do this? on: April 10, 2019, 03:50:21 AM
~
As far as Electrum goes, from what I've read, I cannot trust the whole "your wallet can be spawned with a seed" setup. Im too paranoid with the idea that the right combination of words can spawn your entire wallet. It's a bit fucked up actually.

well your bitcoin core wallet is also an HD wallet meaning it is "spawning" all your keypairs from a seed, it just doesn't give you any mnemonic!
as for your paranoia, it all comes down to that random entropy the wallets are using. if it is good enough then the "combination of words" you see is showing that random entropy to you in a human readable form that you could write down.
12899  Bitcoin / Electrum / Re: Electrum servers are currently under a DoS attack on: April 10, 2019, 03:28:11 AM
some short time ago someone posted a new project about re-implementation of Electrum servers[1]. the project seems to be active and moderately popular on GitHub[2] so i am wondering whether anybody is actually running a server using that implementation in which case are they also affected by the DoS attack since the vulnerability is only in ElectrumX implementation in python[3]? if so then it can be a very easy solution to the current problem until they merge the PRs in ElectrumX and servers upgrade to new versions you could manually connect to those types of server.

[1] https://bitcointalk.org/index.php?topic=4589797.0
[2] https://github.com/romanz/electrs
[3] https://github.com/kyuupichan/electrumx
12900  Bitcoin / Bitcoin Discussion / Re: Bitcoin Development- how did Satoshi stay anonymous? on: April 10, 2019, 03:13:29 AM
actually i believe he may not have stayed as anonymous as you would think. somebody said TOR but that would only mean for his online (web) presence not his node. as far as i know the early versions of bitcoin-QT did not support TOR, it was added in much later versions and that means if he ran a full node you could have known his IP address.
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