Latest posts of: Lucius

I'm not sure how smart it is to start crypto mining operations in Russia and there is at least two reasons that miners should consider before go there.Russia is acts very strange and unpredictable in connection to cryptocurrency in general,and in future similar things might happen there as is happening today in China.Another major problem is corruption and Russia is known for that,miners will have to share a good deal of profit with a corrupt political structure,this is not a country you can make business without bribery and corruption.

I see that miners are receive invitations from many other countries like Canada or New Zealand,and what is about Europe north,Finland,Norway&Sweden-is there some possibilities for mining farms or the electricity in these countries is too expensive?

Everything is possible,and if price go below 8k$ it will not surprise me personally.In the way that price is go up,now it is go down and this is how things works.If we look past 2-3 years there were a lot of ups and downs,and the beginning of this year will not be remembered for good.For now price is holding above 10k level and I hope it will stay above this level in next 24-48 hours.If it fall down below that I do not know where it can be stopped,but I am always optimistic and I look at this as a temporary bad period for BTC.

Anyone who has invested money in something like this obviously had no idea how these things works.When someone promises 120% per year on your investment this can not be true,but lack of knowledge and desire for quick success always create such situations.

Unfortunately this is not the first time,and certainly not the last time that people losing money in such shady business.Yet all who are affected by this have learned something,there is no easy and quick money on internet and 9 of 10 projects are likely to be SCAM.

This will have some negative impact to crypto community,but not for long term-life goes on.

We can not know whether he is thinking seriously or is it just a joke-but he/she will not be first who did something similar.Few months ago one family from the Netherlands sold everything they have and invest in BTC.I do not know how they feel at this time,but surely it is not easy for them to see today price.

For the OP,I think you can not be sure that we touch the bottom with 10 000 $,the price can go easy below that level.Gamble with the house is a very dangerous game,but if you still decide on that move contact Didi Taihuttu,he can give you some tips regarding camping ground Wink

Quote from: gecox22 on January 16, 2018, 12:36:19 PM

Quote from: Lucius on January 16, 2018, 10:28:06 AM

Quote from: gecox22 on January 16, 2018, 02:30:31 AM

Ok so I deleted everything and reinstalled. If I make a new wallet electrum works great if I choose my old wallet file so I can get back to business as usual it gives me the failed to execute script electrum. Any Suggestion?

When you say "deleted everything and reinstalled" is that means that you uninstall old version and delete all Electrum files in AppData folder?It seems that some of files is corrupted so you should try to recover your wallet from seed and before that delete all old files,but make a backup of wallet file and seed before any action.

Do you try with that Windows file which is suggested for you yesterday?

I uninstalled Electrum deleted everything in the roaming folder. Reinstalled 3.0.5 created a new wallet and it runs perfectly. So then swapped out new wallet.dat for old wallet.dat which gives me the error failed to execute script electrum.

So I backtracked uninstalled, delete roaming, installed 3.0.2 swapped out wallet.dat's and it works. So I upgrade to 3.0.4 as I was before I started having the failed to execute script electrum. run fine no issues. I then upgrade to 3.0.5 go to start the wallet and have the failed to execute script electrum so there is something that changes between the 3.0,4 to the 3.0.5 that my computer dosen't like.

I already had that file update installed. So it wouldn't let me reinstall it again. My windows is currently up to date besides for the optional langue packages. Which I doubt would have any affect on the issue listed above.

I will try backing up and recovering from the seed.

Thanks!

*update*

Did a fresh install of 3.0.5 and the restored from seed. Everything is currently working as it should

Thanks for the suggestion!

I'm glad that you solved the problem,seems like problem was in your old wallet file.I update to 3.0.5 from 2.x.x version also in Windows 7 and everything is working perfectly for now.I did not even try any of 3.x.x version before that,many users report that they not working with Windows 7&8.
Even I use Ledger Nano S I like to use it with Electrum,much better UI then Chrome app.

There is no mercy in the world of cryptocurrency,for most it is just about how to make more money.When big pump is start at beginning of last year smart people know that a big correction will take place,but for all new users who boarded the ship at full speed all this today looks very strange.Ship is slowing down and sometimes are even moving backwards,waves are too high and it seems that the ship will sink.

For some this is bad times,for others time of great opportunities.No one can say when something would change for better or worse,it is risk which must be taken when investing in BTC or any other risky asset.

I think it would be good news from China that they announce total ban on cryptocurrency trading and mining,obviously they want to do it and they become just one big bad news for BTC.It is obvious that the communist party does not want to have something in the country which can not be fully controlled,and in communism such things are prohibited,killed and deeply buried.

Lately we can see that big miners from China trying to find the countries where they will continue their operations,and this is actually a good thing.So much mining power in one country always poses a danger for cryptocurrency.

I do not know what's new here,BTC price go up&down all the time,and the reason may be in some bad news or just some whales dump coins and play endless game of making profit.About a month ago we had a similar situation when price is drop to 11 000$ or even bellow that level in some exchanges,but from that time price is go up to 17 000$.Times when changes in price was only few hundred $ is over,now is few thousands up&down in a 24-48 hours.If you want to be in the world of cryptocurrency be ready for anything,there is no guarantee for price-it can be 1$ or 100 000$,otherwise is better to keep your money in some less risky assets.

Quote from: gecox22 on January 16, 2018, 02:30:31 AM

There is 2 types of SegWit addrress,but for now only Electrum use Bech32 format and this should be only correct SegWit format to use.But because of compatibility with other wallets/services others decided to use address which start with "3" which is in a way address which is converted from legacy to SegWit.So when use Electrum users should pay even smaller fee then when use other wallets/services.

Quote from: talkbitcoin on January 15, 2018, 11:00:17 AM

i believe there are two forms of SegWit addresses at the moment.
1. P2SH nested segwit (P2SH-P2WPKH) which will look like normal P2SH addresses (start with 3)
2. Bech32 which will start with bc1 and has a different formatting than base58
and normal addresses as you know start with 1 or 3 and are base58 encoded

as for fees i believe the P2SH nested segwit will take up more size than the bech32 (but i may be wrong). and they say "it is cheaper to create SegWite transctions" but i have not yet tested this. last bech32 transaction i saw had 1 input and 2 outputs and was 255 bytes which is the same as regular transactions with P2PKH! so i am confused about that myself too.

Quote from: Roboabhishek on January 15, 2018, 10:37:48 AM

So how to create a segwit address in blockchain.info or in electrum.

blockchain.info has not yet adopted SegWit as far as i know but if you install the latest version of Electrum, you can create a SegWit wallet there.

SegWit and non-SegWit transaction will have same size in bytes,but the difference is in weight of transaction which is smaller.And I was interested in how to determine the fee for SegWit transaction,and only way is to know their virtual size which you get if you divided their weight by 4.

For example if we have 200 byte transaction and we want to pay 100 sat/byte we get 20 000 satoshi fee,but if we know the weight of transaction which in this case could be 500 and divide that with 4 we get 125 bytes and 100 sat/byte x125 = 12 500 satoshi for fee.

In this way we can save on fee when using SegWit transaction,at least as far as I know about how SegWit work.

Quote from: gecox22 on January 15, 2018, 09:43:11 AM

I installed the new update and am now getting failed to execute script electrum. Any one know how to fix it? Using windows 7 here.

I have Windows 7 and version 3.0.5 is working without any problem.It seems the problem may be in missing windows file as some users report,after updating that file Electrum is not giving that error and works normally.I recommend you to before anything make a system restore point in Windows and also be sure you have correct seed.

Check this link : https://www.reddit.com/r/BitcoinBeginners/comments/7hhnth/electrum_error/

Link for download Windows update : https://www.microsoft.com/en-us/download/details.aspx?id=49077

I think this update is for 32 bit Windows/check if 64 bit version is available.

Quote from: ccapek on January 14, 2018, 10:58:04 PM

Back when bitcoin was cheap I bought some bitcoin, paid a vendor, never received the change. Although the blockchain shows the payment completed and verified.

https://blockchain.info/address/1D4Zv4xretZ13mae4aKhgxivQqqicnVFKU

This is the transaction, but multibit HD shows the two transactions as pending with two arrows.

I have restored the wallet numerous times from file and my seed phrase.

I used the Mnemonic Code Converter v0.3.2 and with my seed phrase listed out 300+ keys and cannot find the key above from blockchain. I am not very savvy with bitcoin, but am learning slowly that I must have made a mistake somewhere. I know multibit is full of bugs and think that is it, I have lost my bitcoins. They show as unspent, but I cannot access them. Multibit HD shows the balance, but unconfirmed.

Can anyone lend me some suggestions?

Is your address 1D4Zv4xretZ13mae4aKhgxivQqqicnVFKU and you send BTC to 3EVobjzybY1rxSQMtB2z7Pt8o7dDeCeeDH ?This transaction is confirmed,but you use Multibit HD which is outdated and does not work properly.

Download latest Electrum wallet from this link https://electrum.org/#home ( use only this link) and then use seed from MultiBit HD to restore your wallet in Electrum.

Just follow this steps from video and after Electrum is sync you should see your balance/transactions confirmed : https://www.youtube.com/watch?v=E-KcY6KUVnY

Quote from: Kakmakr on January 14, 2018, 08:29:40 AM

Coinbase's decision to add Bitcoin Cash, before they implemented SegWit was a clear indication to me that they are showing their alliance. The fact that they are sabotaging Bitcoin by not implementing measures to reduce congestion on the network <Batching> is further proof of their intent.

Coinbase will go the same route as Circle. <Building a userbase and changing business model>

There may be some truth in what you say,but I think it is still harder to implement SegWit then add BitcoinCash.But Coinbase has recently announced that they working on this issue and that users can expect SegWit in this year.Also Roger Ver and BCH crew obviously have a very strong influence even on Coinbase,and this situation wich we have with high BTC fees for some time goes to their advantage but also to many other altcoins.

When Coinbase add SegWit we will see how many differences will be in network congestion than what is now,surely some progress will be seen.

Quote from: LTU_btc on January 13, 2018, 06:20:47 PM

Quote from: Lucius on January 13, 2018, 03:13:11 PM

Quote from: Mistertango on December 06, 2017, 11:15:57 AM

Hello, differential350,
our (btc-exchange.com) fees are quite different from the market.

our BTC deposit and withdrawall fee in BTC currency itself (sending/getting BTC) has a fee of 0.5%, but no less than 0.005 BTC. This is soon to be changed to be much more friendly for small BTC/BTC transactions.
Trading is free. And this is very, I mean very, rare among other exhanges.

Regards,
btc-exchange.com

I'm interested is it something changed regarding BTC deposit fee which would now be around 70$?In combination with high transaction network fee these days every deposit would have extra 100$ which user need to pay.For some large deposit it may have some sense,but for small deposit of few hundred $ is really too much.Since your MasterCard is 100% free to use and Visa is completely down for EU,your service could be interest many new users.

Deposit fee was lowered to 0.0025 BTC. It's still high, but much better than it was. But I think it would be better to have fixed deposit fee based in EUR, because BTC price is too much volatile and when Bitcoib price rises, fee become more expensive.
Alongside their free MasterCard it's also worth to mention that trading on their service is also completely free without any fees.

Thank you for this info,even 0.0025 BTC is maybe to high, but it is much better than before and as you say all other service they offer is free for EU residents.I'll definitely try Mistertango service and see how it work and I hope MasterCard will not experience the same destiny as Visa cards.

Quote from: LEINADbtc on January 13, 2018, 09:53:34 PM

Sounds nice.
But are these available worldwide? I'm talking about the card.
Or are they Wavecrest or something? Would love if they are different.

On their site with info about MasterCard is information "*EEA – European Economic Area (worldwide is coming)" so I think that card is only for EU now,but other services can be used outside of EU.

Quote from: SEMichigan on January 13, 2018, 05:42:11 PM

Hello to all,

I am new at this and still confused.

My transaction ID is 3da40cc2d7e3807e268498905655b8211f2f0d38498dafb27553d1cb7306e617, it was done on 1/7/2018.

I have over 1000 confirmations, the merchant says they've not received the money yet.

My address is 13hZTN8F6ab3FYmRPS7uVFuHayyaksShgS

The merchants address is 3779tUNpUV3SKCiDdmq3nhGP5y2mk1SJmi

Can anyone tell me what I have done wrong.

I sent 0.00461997 bitcoin for a 0.003647 purchase. I let Electrum figure the amount to be sent.

The merchant has checked several times and says the payment has not been received and they will keep checking.

Thank you for any help.

Your transaction have in this moment 1160 confirmations and if address of merchant is correct then from your side everything is done properly.Problem is in merchant wallet or someone want to scam you,so just show them your transaction and insist that they solve problem on their side.

If you can not solve your problem open a thread here : https://bitcointalk.org/index.php?board=83.0

Quote from: Mistertango on December 06, 2017, 11:15:57 AM

BTC can reach 20 000$ in few days,this is not big problem-but how to keep it in that level is quite another thing.Strength of BTC should be in small people around the world,and in this moment they are in some way excluded because they can not pay high fees and they transaction get stuck for weeks.When that problem be solved, people will start to buy/sell use more BTC and money will flow again in BTC.

We see that it is impossible to even keep 16 000-17 000$ levels,whales always dump their coins and reverting us back.I think this year shoud be more focus on scalability and to regulation of cryptocurrency in world,until these issues are resolved price can just be pumped up and then go down again.

I was thinking to get one of these cards this year,but then this happened so I will wait to see how will these companies adjust and offer some new cards.I see Bitwala is working on new solution by making crypto bank,it will be interesting to see what can they do regarding this.

This move from Visa have some impact on users who use such service to convert crypto to fiat,but most of them will find a way to do that in some other ways(BTC ATMs or LocalBitcoins).There is no doubt that many users just want to convert crypto to fiat and use it in daily life,so the need for such services is likely to increase by the time when we get opportunity to pay direct in crypto with low fees.

Quote from: FrugalFred on January 13, 2018, 09:07:08 AM

Thinking about purchasing a small bar for about 150-200k. I have more bitcoin on hand than cash. Should I use the small amount amount of cash I have or sell bitcoin to purchase? I know I am probably better off doing nothing, especially if its crypto appreciation vs buying a bar but I'm getting old, its something I wanna do and its also good diversification. Any feedback, tax tips greatly appreciated. Thanks

You say that you getting old and that getting bar is something that you want to have,so I do not see any reason to not sell your BTC and fill your dream.Only thing you should look at is price of BTC,why sell at 13-14K$ if you can sell at 16-17K$ or more.

Regarding tax you should visit you tax office and see what they say about BTC,in some countries you will pay 10%,in some others like Germany or Denmark you pay 0%.

Some may say that you should hold BTC,but it is cryptocurrency and it should serve its purpose-it would be great if you can buy bar direct with BTC,maybe this is also option which you should consider?

Quote from: Horus God on January 02, 2018, 03:02:24 PM

Dear forum users!

We are pleased to announce our transaction acceleration services.
http://HorusConfirmTX.com

HorusConfirmTx is a bitcoin transaction accelerator that allows you to get faster confirmations on your unconfirmed transactions . While other Acceleration services charge you dynamic prices according to your transaction size we have a fixed fee of 4$.

Our advantage:
- Using Miner
- Completely Free Service.
- Quick support and update
- We can process large size transactions (1000 Byte+)

Thank you.

Why you have 2 threads for same service? https://bitcointalk.org/index.php?topic=2675471.msg27437316#msg27437316

If you remember I give you 2 transaction 10 days ago and both are still unconfirmed.You say they have low fee,but it is all about transaction with low fee/If user pay recommended fee then such service would not be needed.