I actually tend to find a divisibility a good argument. However, one can find very difficult to own an atom of gold, whereas you can own 0.0000001 btc.
So, I do believe can crash because of this. I just hope it will return to a niche.
Let's compare apples to apples. There are about 10 billion ounces of gold in the world. Divide that by 21 million and you get that the final supply of each bitcoin equals about 476 ounces of gold today. A Satoshi is 0.000 000 01 bitcoin, so it is equivalent in supply to .000 004 76 ounces of gold. .000 004 76 ounces of gold might sound small, but the equivalent value of that amount of gold at current prices ($1276/ounce) is .6 cents. That seems oddly close to a reasonable base unit for a currency to me. Coincidence? I think not. Satoshi knew what he was doing and probably based the final supply and initial divisibility off of similar calculations. +1 |
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The Bitcoin Foundation needs a structure like The Pirate Party. It's preposterous that all the power is centralized to US based foundation. Also, people need to boycut Avalon.
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A stock in Berkshire Hathaway Inc. is worth $172.000. Bitcoins could surpass that within a decade or so..
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There are still not enough infrastructure supporting bitcoin for mainstream usage so no.
I have the feeling alot of companies are working on this. There is still a lot of first mover spots in different industries.. Even banks could benefit form integrating bitcoins, or they could eventually be left out in 10-20+ years |
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No, we shouldn't change it. Otherwise we lose the pricing mechanism. Just like gold is calculated in ounces, we need to have a whole unit to benchmark against.
I don't see how we would lose the pricing mechanism, of course the price would be divided by 1000, but there would be more units equal to that. |
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I want to change my identifier to something I can remember but dont know how I have tried searching everywhere and cannot find anything...
In settings you can change your username to whatever you want |
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There is no better time to buy than the present.
As much as I love idioms, now is definitely not the right time to buy. Sure it may go up incrementally, or even explosively in the next couple weeks, but right now BTC is in a huge bubble, and throwing down money now instead of waiting a month or so will probably end up costing you money unless you can play the short run well enough. Cause ya know what they say... A penny saved is a penny earned. I beg to differ.. Bitcoin will explode even more within the next 12 months.. Those facebook brothers, ETF and China will push it above $1k easily.. And when the European Central Bank begins confiscating personal funds to pay off the Unions debt, crypto currencies will go through the roof aswell. Also I bought a reasonable amount yesterday, so far im up 12%, and I'm hopefully gonna get some more fiat converted into bitcoins in the next months.. |
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But I wouldn't store anything online, except for a hot wallet with 2-3 bitcoins max.. But I suspect 2-FA will not protect you if you recently used it to login, since it will only ask for 2-FA once every 10-20 minutes..
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in this scenario I would assume BitcoinCZ eventually gets the coins.. |
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Also, check if your key begins with a number 5, or a letter L or letter K.
blockchain.info may not accept compressed keys yet. So maybe that's why it think it's invalid.
I just swept a private key to Blockchain starting with 5K, also says all formats are supported in the import/export section. Try importing a private key that starts with a K or L. Here, I'll use an example: L1TU3ksw7CmMbT3JsVnSbCRUM7siEuUvo45ee9BjjMeCYYDtdiQA Kyoy4Ji5yJqYXaohP6j9CD61YxZp7KrD3ps2N53PtrXdvTN6Pc6j KxxHV1fNHUt9TB5rf3oag2kSkFowgqwXdZ23zPEzicRvQMxFs9K7 I just generated those from bitaddress.org Keys that start with 5, including 5K are uncompressed keys. Yea, I wouldn't know how to do that. I make my paper wallets on bitaddress.org with their brain wallet sections and just back up the private key in import format.. |
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What is the safest place to import the private key to?
I use Blockchain with Google 2-FA to sweep private keys, it's a breeze |
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But my main concern was, whether it was secure to generate a private key off an offline iPad......
As long as it is offline, yes. My guess is that you plan to use it online afterwards. Do you know what kind of data is left is the browser cache, or if ios stores that kind of data somewhere. Maybe it wants to help you remember a password you forgot. This is all about that is theoretically possible. Realistically, you could probably just generate that key online and be more than fine. I'm not sure how much data the cache will pick up alot on bitaddress, but will make sure to clear all browser-related files from chrome/safari app. Thanks for your answer |
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Also, check if your key begins with a number 5, or a letter L or letter K.
blockchain.info may not accept compressed keys yet. So maybe that's why it think it's invalid.
I just swept a private key to Blockchain starting with 5K, also says all formats are supported in the import/export section. |
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I still haven't gotten a single helpful answer.
One would be appreciated..
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Why not carve your private key into a tree and hope it makes a sound if it falls.
Or create a song where the nodes are based off the private key and print it to a discman/usb/cloud |
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As I'm not tech savvy enough to boot my computer from a live version of Ubuntu to generate a wallet through bitaddress.org, I considered going the way:
1. Go to bitaddress.org with a non jailbroken iPad
2. Turn off wifi
3. Make a brainwallet with a random phrase of +100 letters, numbers and symbols
4. Write down private key on a piece of paper, proceed to do several backups
I will safe the public key on a computer and then send funds from a bitcoin exchange.. This way my private key cannot get hacked, unless sombody has remote access to my iPad while offline, but from my understanding that should not be possible on an IOS tablet.
Can anybody tell me if this would be a bulletproof way to generate a private key?
How can it be a "brainwallet" if it is 100 random characters? 1. You can only remember that if you have super human memory, or they are not really random. 2. a private key is one third of that length - so why not just remember the private key if your memory is so good? 3. this passphrase length is absolute overkill. In practice it won't protect you more than a 15-20 character random password - it will just increase the risk of you forgetting it at some point. As stated I'm gonna back-up private key in physical form, just using brain-wallet function to generate a unique private key. (So I guess you could call it a paper wallet) So yes, the passphrase will be overkill- indeed. But my main concern was, whether it was secure to generate a private key off an offline iPad...... |
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you can go to bitaddress.org and just save that page.
Then you don't need internet connection to open it, you just
need the file with the page and you can generate new addresses anytime
without internet. All the needed javascript code is inside that one page:
it's designed to be client-side, usable offline.
Yea, I figured it was the same as loading the page and disconnecting afterwards.. However, I need a desktop computer for that, which will increase the chances of my private key being logged.. (since IOS tablets are yet to be filled with spyware) |
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