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18581  Other / Beginners & Help / Re: Newbie question regarding the usage of Bitcoin address on multiple faucets on: April 10, 2017, 04:49:30 AM
~
My first and currently the only faucet I'm using lets me cash out once my balance reaches 700 satashis, and the destination of the cashing out is ePay.info.

If I understand it correctly, I will still have to withdraw those satashis from ePay.info to my Bitcoin wallet (Blockchain.info) in order to spend them.

Let's say if I accumulate 100,000 satashis on ePay.info and then withdraw them to my Bitcoin wallet, would the situation you mentioned still happen to me?

yes.
lets say you wanted to buy a $10 game from steam store. $10 is equal to 0.008196BTC with today's price.
you go to your wallet and in there you have multiple transactions each 100,000 satoshi (0.001BTC). to pay for the game you need to spend 9 of those:
Code:
in                                  out
100000 tx                          819600 tx (steam payment)
100000 tx                          80400 tx (your change)
100000 tx
100000 tx
100000 tx
100000 tx
100000 tx
100000 tx
100000 tx
that is approximately about 1400 bytes (rough estimate) and with a 220 s/b you'll end up paying about 300,000 satoshi in fee.
18582  Economy / Trading Discussion / Re: Crypto Traders help please? How to know the trend of Crypto money on: April 10, 2017, 04:39:20 AM
the same thing apply here too but with some small differences.
for bitcoin it is always about adoption and whatever that can increase it, can increase the price too. but adoption takes time and it won't happen overnight. for example the news about Japan which has started last year is one of the things that is increasing the price, you may not even notice it but it has been increasing the adoption and it has sped up recently.  and will continue to do so.

unlike bitcoin altcoins don't have any usage. they are only there to be traded. mostly pumped and dumped and for that there is only hype. when they spread some useless news and mostly exaggerate it, the price with some additional manipulations goes up.

in short you need to learn how to differentiate between a false and exaggerated news and a real one and effect of each of them.
18583  Economy / Economics / Re: At what exchange rate would you call Bitcoin dead? on: April 10, 2017, 04:34:25 AM
people call bitcoin dead whenever they want to buy more coins, sometimes it even works on some idiots who fall for it and panic sell their precious bitcoins. so as far as price is concerned that is not going to happen.

but bitcoin being dead has nothing to do with its price. it is only dead if nobody is using it any longer. and as far as there are nodes out there, even a couple of them, and there are people who mine the transactions, bitcoin will stay alive.
18584  Bitcoin / Electrum / Re: Seed generated by Android version is invalid on PC, but works on another Android on: April 10, 2017, 04:25:12 AM
I was paranoid this kind of thing might happen

all the previous releases are always available for download:
https://github.com/spesmilo/electrum/releases
https://download.electrum.org/

and the code is always on Github and not going anywhere and even if it does there are lots of forks that the code can be retrieved from one of them. and on top of that you can always keep a copy of the installer you used.

EDIT: this is not an isolated case. Every seed generated by this offline device is not not valid to be redeemed on PCs.
is it possible that something might be wrong with the download?
i mean maybe you think you are using Electrum but it is something else!
18585  Economy / Speculation / Re: 1 Bitcoin Worth Is 1000000$ on: April 10, 2017, 04:13:16 AM
The Bitcoin will not rise with the holding of bags , but will rise with involving more and more people, Circulating coin, demanding every monetary thing in terms of bitcoins.
Still only 12% or even less use bitcoin in Thailand, what if all of them start to use it? The question is not whether should we sell/buy bitcoins, the question is how can we pitch people to use it.

i couldn't agree more.
and in my opinion bitcoin needs more adoption, and more adoption in real world application area. i mean more merchants and more services to accept bitcoin and more people to use it as a currency.
as far as being a speculation tool goes, i don't think we can see very large prices anytime soon because majority of people (average Joe) won't invest in bitcoin because of the volatility.
18586  Bitcoin / Bitcoin Discussion / Re: Even paid alarmist shills shouting "re: "Bugs/needs fix now!"...will buy Bitcoin on: April 10, 2017, 04:07:00 AM
one interesting thing that i have noticed is that many people around here (specially in signature campaigns) are like parrots. someone with clear agenda spreads some FUD and you see them repeat it all over the forum.

i saw a comment in altcoin board from one of those brainless parrots talking about bitcoin and it having a bug in the code which was exploited! and we have all seen thousands of comments talking about "split" in the past month.
18587  Other / Beginners & Help / Re: Newbie question regarding the usage of Bitcoin address on multiple faucets on: April 10, 2017, 03:54:42 AM
@pooya87,

Thank you for giving useful examples. You mentioned that my situation is like this one. But why will I be having so many outputs at the left side like that one? Can't ePay.info, FaucetHub.io, etc eliminate that issue?

because you are using a faucet or group of them, and each pay what, 50 to 500 satoshi? how much will you earn per hour, per day,... and how long are you willing to wait around to accumulate it in your account on those sites and trust them with your bitcoin that they won't run away before you cash out to your bitcoin address that you control?

in practice that would be somewhere around when you reach 0.001BTC (after about 1000 claims). and when you cash that out to your bitcoin address that is one new output.

and yes you can eliminate that issue by trusting those websites that they won't run away with your satoshis, and keep your coins there until you reach some bigger amount.
18588  Other / Beginners & Help / Re: Newbie question regarding the usage of Bitcoin address on multiple faucets on: April 09, 2017, 05:14:27 PM
@pooya87,

Since those faucet caches pay their users in bulk and make transaction smaller, why does I spend bulk income result in big transaction? Aren't both processing bulk Bitcoin?

And thank you for reviewing my steps.

it is like this (examples taken from last block mined):
https://blockchain.info/tx/4f569395fbf4938044976fc239cece243d74e0f56105d91d0bf524e721b9f93b?show_adv=true
this is similar to a payment to multiple users/addresses/keys that those services do (bulk payment)
as you can see it is spending one output (one the left) and makes 24 new ones (pays 24 people). the size here is 971 bytes.
now if you want to pay each of these one by one you have to create 24 transactions each of them with about 225 bytes size (since you create 2 new outputs anyways like this) which would be nearly 5400 bytes in total (24*225)

however what happens to you is something like this:
https://blockchain.info/tx/2df28acff8fba40e01bb950b1720d5716e94611219796e6dc577f538c999abcc?show_adv=true
you see all those outputs on the left, these are transactions that you receive as payment.
and as you can see the size of this transasctions with 14 outputs to spend is 2142 bytes. this is because you need to sign each of those outputs with the private key (the wallet does that in the background) and the signature created is taking up space. and the more outputs you have to spend the more the final size would be.
18589  Economy / Economics / Re: Satoshi Nakamoto should be richer than Bill Gates. on: April 09, 2017, 04:51:00 AM
Do we even know the actual amount of Bitcoin Satoshi is controlling, if the 1 million figure is true then it is just a matter of time, I can see Bitcoin in $10,000 range soon, when that time arrives, he is going to be sitting on $10 billion. The more Bitcoin price increases the richer he becomes.

"a matter of time" for what exactly?!
and that is the problem though, most of us have not yet understood what bitcoin is an why it was created. Satoshi has some amount of bitcoin end of discussion. saying it is worth XXX dollar means you still don't know why he created bitcoin.
it wasn't for the price value or to become rich in USD sense.
18590  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: How anyone else noticed the poloniex XRP/BTC exchange is a fraud? on: April 09, 2017, 04:23:21 AM
~ The idea is that you buy low and sell high, repeating the process over and over again to profit. ~

actually this is what people say when they are too lazy to go into details.
the idea is to buy low when you know price is going high and then sell when you know price won't go any higher.
you can't just put orders and think they MUST be filled.

for instance in Ripple and Ethereum the pumps are over so there is no low anymore. all prices are high and a time for sell. yeah it may bounce back sometimes but the general flow right now is dump-dump-dump.
and for litecoin, nothing is clear at the moment and it is best to stay away.

and remember this is altcoin market we are talking about, it is full of manipulation. the margin trading works in a more logical market not where there is pump and dumps going on.
18591  Bitcoin / Wallet software / Re: Multibit HD vs Electrum which is better? on: April 09, 2017, 04:14:56 AM
It is my understanding that as a Multibit HD user, you need to pay a small fee to the Multibit devs in each transaction. This not only increases the costs of using Multibit because of this fee, but also because of the higher necessary TX fee as a result of the extra output (and sometimes extra input in order to pay for this fee).

It is not a good idea to run any kind of wallet software that is generating any seeds and/or private keys and/or signing transactions on a VM as VMs have very bad random number generation.
Actually, IIRC, there should be an option where you can pay the fees for several transactions beforehand.

Anyways, Multibit has removed it since v0.3[1].

[1] https://multibit.org/blog/2016/04/18/multibit-hd-release-0.3.0.html

haha, yeah i still remember those days. it was pretty funny and shameful. they decided to ask for a fee to let people use their wallet and majority of Mutibit users left for other wallet clients and there was even talk of forking Multibit and removing the shameful feature and release it as a third party (i don't know if anybody did that though).
and after a while when it failed miserably, they removed the feature.
18592  Economy / Speculation / Re: $3000+ on sight for this year after BUcoin disaster on: April 09, 2017, 04:08:35 AM
a massive demand and adoption is not going to magically appear out of nowhere to push the price up to $3000 (150% in 8 months) just because a stupid FUD goes away.
when the FUD clears, price will have a spike for sure but it won't be that big. we are still on the same slow rising path and with or without FUD we will stay on that path and slowly see a rise up.
18593  Other / Beginners & Help / Re: Private keys on: April 09, 2017, 04:03:59 AM
If you don't know what a private keys are, private keys are in the context of Bitcoin is a secret number that allows bitcoins to be spent. If you want to know more about it, here is the LINk. If you are owning a wallet on blockchain.info, you must know what a private keys are and how important it is to you. If you handed your private keys to other people, you bitcoin is good as robbed.

Thank you. But may I ask, where do I get my private keys? I created a wallet in coinbase, xapo and exodus and I have trouble on where to find it.

i don't knowwhat exodus is but i am assuming it is like the other two.
and these are not bitcoin wallets these are accounts you have created. and they control the private keys and won't give it to you. which is why people said to you before "if you don't have the private keys you don't have bitcoin". these sites that you have an account on control the private keys and your funds and just give you permission to use it and they can terminate that permission for any reason they want.

choose a bitcoin wallet (https://bitcoin.org/en/choose-your-wallet go to desktop section) and that way you control the private keys and your funds will be in 100% your control.
18594  Other / Beginners & Help / Re: Newbie question regarding the usage of Bitcoin address on multiple faucets on: April 09, 2017, 03:58:16 AM
@pooya87,

Thank you. Regarding the high fee issue, my understanding might not be very accurate because I'm still quite new to this field, but faucet caches such as ePay.info or Faucethub.io have solved the high fee issue, haven't they?

The fee is determined by the network not by users. what these services do is that they pay their users in bulk and after they reach a certain amount. and that makes the transaction a little smaller (in size byte-wise) than sending it one by one. so they pay a little less fee in total.

the problem for you as a receiver still stands. you still are going to have many Unspent Transaction Outputs (payments you received) and when spending them you will end up with a big transaction size and be forced to pay a higher fee if you wanted a fast confirmation.

Could you please help checking if my understanding below is correct?

If I want to use a faucet which asks me to register on Faucethub.io and to link a Bitcoin address, the steps I will have to do are:
1. Get a Bitcoin address from Blockchain.info.
2. Use that address to register on Faucethub.io.
3. Submit that address to that faucet.
4. Forget about the address thing and keep using the same address on that faucet forever.
yes, not a good idea because you are wasting your time on a faucet but correct Smiley

Because some other members seem to think being tracked can result in privacy issues:
doesn't matter what others say, do YOU care if someone sees your address is receiving payments from faucets?
18595  Economy / Gambling discussion / Re: bitcoin dice casinos. Is it profitable to have such casino? on: April 08, 2017, 04:54:08 AM
Hello,

I saw that there are so many bitcoin dice gambling sites and new ones starting each day.
So my question is if owning such site is profitable?
How much starting capital would be needed to start dice gambling site?

it is like any other business.
when one is successful, copycats start creating more and more and fail miserably. because as any other business it is not profitable on its own. you have to make it profitable. try to advertise it, get the word out, get people in,... and all other techniques. also the most important one is being unique and in a good way.
right now we keep seeing dice sites pop up with nothing new to offer, so that obviously has failure written all over it.
18596  Other / Beginners & Help / Re: Newbie question regarding the usage of Bitcoin address on multiple faucets on: April 08, 2017, 04:46:37 AM
You can use one wallet address into different faucets.  If the first faucet is the same to  the 2nd one you can generate another wallet on your blockchain wallet .
Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

read that page completely and you will understand what it means.
the privacy reasons are obvious ones.
about the security you have to know that when spending bitcoin you are spending the transactions you have received (UTXOs) and spending means cryptography signing the transaction with your private key.
as the wiki explains, there has been cases (fixed now) that could lead to finding the private key from the signature.

these are rare cases. what you will face is a high fee. when you receive a lot of payments by the time you want to spend 0.01BTC-0.1BTC you will end up paying a huge fee of 0.05BTC for example. because fee is calculated based on the size of tx in bytes https://en.bitcoin.it/wiki/Transaction_fees
18597  Economy / Trading Discussion / Re: Do you use a bot for trading? on: April 08, 2017, 04:28:48 AM
I never use bots in trading because I have not bought one yet,  If someone good enough to share his bot to me, I would gladly use it.  Apply the setup I want and run it 24/7.  Of course, i will be checking it from time to  time to monitor the bot.  Having bot for trade, I believe, it  will make my trade easier.  No more missed pump or dump.
Do you think bot in trading will be a big help for a traders like us here sir? And if ever yes, I'm gonna try it, can you give some site of it were I can get some and try to apply it in the exchange platform. Thanks Wink

as it was said at least a hundred times before in this topic, if you are new to trading you shouldn't be even wanting to try a bot. first learn how to trade and do it at least for a couple of months manually and then if by that time you felt the need for some level of automation and a bot then seek a good one.
but not now.
18598  Bitcoin / Bitcoin Discussion / Re: BTC Ban on: April 08, 2017, 04:17:21 AM
reason to ban the bitcoin probably mostly related to politics. state may not want to accept bitcoin for bitcoin does not provide a clear advantage for the country. besides, bitcoin is able to compete with the bank which is a state trust.
When bitcoin turns to be a threat to the growth of Country's economy governments will oppose it. Same happened in​the past when Yuan falls China made a inspection all around and made regulations as well stabilizing yuan. So when the real nature of bitcoin is understood governments won't oppose, they adopt it.
bitcoin is money and it can not affect a Country's economy by nature.
and what China did had nothing to do with Yuan price and whether it fell or not. it was all about money laundering and many other illegal money related stuff in a big but unregulated place working with fiat called bitcoin exchanges.
18599  Bitcoin / Wallet software / Re: 24 word seed question : is splitting it in half dangerous? on: April 08, 2017, 04:02:47 AM
to really get the feel of the chances go look at some of the "Electrum Seed recovery tools" out there. you can even download one from Github and try recovering a dummy seed from a new empty wallet or using this:
Quote
constant forest adore false green weave stop guy fur freeze giggle clock
from documents. try with 1 missing word then with 2 and so on and see how long it takes.
18600  Economy / Speculation / Re: [UPDATE] $1,200 incoming (Next goal is $1,300) on: April 08, 2017, 03:58:43 AM
always reminding us to scam.
WHAT!

Quote
The FOMO for BTC is not starting YET....... give it time.
Once FOMO set in.. > $10,000USD per BTC......then peeps will look for alternatives (altcoins).... so which one will be next?
The FOMO will cause a rise but not to $10000. that is as silly as saying price will fall to $600, it works both ways.
and sorry to disappoint you but all the altcoins are going to die in case of bitcoin rise specially those that were pumped on the premise of bitcoin dying and them replacing it.
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