It seems for me that lightning network makes bitcoin more centralized. I do not like this. How do you think?
I think that, lightning network will always be a CHOICE. You can still use old-type addresses, and pay higher transaction fees, or you can use lightning network with smaller fees. I would use old-type addresses for big sums and lightning network for smaller sums. |
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1. no, you must specifically made it to cpu mine, and probability of this is so low, that you will win 100 times in euro millions or similiar famous lottery.
Based on the OP's vague description, what makes you so sure this person did not make it to "cpu mine" as part of the steps? The probability has nothing to do with it. Like you said--based on my vague description, and vague memory--I do not know if I set to "cpu mine" or not. I suppose I need to just plug in the HDD and see if it is in working order (hopefully it is). If I find the wallet.dat file, how will I know if there is anything in it of value? Or will I need to import it to a new wallet to find out? I know that I will need to save the wallet.dat file multiple times before I do anything with it. You did not have to configure Bitcoin to mine. All the early versions of Bitcoin (later Bitcoin-qt)) started mining when you started the program. And mining was easy as difficulty was only 1 during the whole year of 2009. If you mined for a full day you probably found 1-4 blocks even with a medium range CPU. And you wont find a wallet.dat file. because I think it was named "wallet" (or was it bitcoin ??) at that time. An added bonus is that if you do find your wallet file, it wont even be encrypted, because that was not an option.... So you could get your private keys by just reading the wallet file.  Good luck to you, OP. |
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Blockchain events .. I have visited the first transaction ever made, 10 first mined blocks, Lazlos pizza purchase, lost 8999 BTC change address, FBI address, richest address, and many more... But yeah. I have not visited any bitcoin events in the real world. |
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If stealing the name itself wasn't suspicious enough, it also appears to facilitate the theft of coins from private keys that don't belong to them on this new chain, in order to give those coins to users to incentivise adoption. They even try to justify it on their website: In addition, we will distribute a proportional number of "Bitcoins of Satoshi Nakamoto" to all those who support hardfork!
By “Bitcoin of Satoshi Nakamoto” we mean what the founder and chief developer of Bitcoin BTC mined at the time of zero network activity. They will be credited to the crypto-exchanges and wallets of our partners gradually. The list of partners will be constantly updated on our website! Even if Satoshi Nakamoto wants to get B2X for his pre-mining, he is not able to do this, as we blocked the initial blocks for conversion to Bitcoin Segwit2X.
It is worth noting that this present to users who supported us will be credited some time after the basic conversion 1:1 Stealing other peoples' money in this manner is not okay. We cannot allow such a dangerous mindset to flourish. That is categorically not how Bitcoin is supposed to work. Quite a blunt way of "stealing" coins. They could have done it in a way that would not have annoyed so many people. Eg. Saying that ALL coins that are not claimed in one year will be taken to better use  Giving everyone a possibility to claim their coins would make finding reasons to complain more difficult. And it would also have resulted in lots of more coins to "steal" Interesting to see how they are going to recognize Satoshis coins from similar old untouched coins. I have read theories about the Satoshi-pattern that shows Satoshis coins. Are they using those as a base? And those 3 persons are going to be very rich if this succeeds even partially |
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Just wait a week or two.
Currently the bitcoin network has over 225000 unconfirmed transactions. That is why the fees are so insanely high.
If you do not have to do it now, wait and do your transaction when the fees are cheaper.
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i thought about the time in the past where the bitcoin was breaking the 1k ( increasing the chart from nov-dec ) and crashed back to aprox 250$
do you think its the same right now?
No. I can not see anything similar. In 2013 the crash happened because of the massive theft from MtGox which was then the main bitcoin exchange. That theft ate belief in the whole bitcoin ecosystem. I have not heard of any similar theft or crisis now. |
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I don't think it is a correction. I think it is due to the obvious limitations of the coin, victim of its own success. The coin was not prepared for mass adoption (and I say "mass adoption" but it is very far from being the case now, obviously).
Fees (in Bitcoin):
2 years ago, 25 to 30 btc a day
1 year ago, 65 to 80 btc a day,
today, 150 to 210 btc a day, that's around +600 % in 2 years, absolutely shocking. It is way too expensive.
+600% increase measured in bitcoins, but at the same time bitcoin has gone from 200$ to 16000$ so the $ change is much much much bigger than +600% It's basically the Blockchain is flooded by an unconfirmed transaction, This strange thing happened right after some shit news regarding Co-Founder of Bitcoin.com decided to sold his BTC and buy BCH. This is obvious that there is a group behind it that spreading the FUD to dump BTC. This may what they called "Operation Dragon Slayer". But don't worry once they realize that crypto market will be dump as well, They will shitting BTC again. Expect new ATM after this Big crash. Keep on Hodling or Bag some cheap BTC! I do not believe in those conspiracy theories. It is much simpler than that. Many people are interested in bitcoin and the blockchain is just too slow to handle the increased traffic properly. That is why the transfer fees have become astronomical. Cant wait for the lightning network, which will solve the problem. Hope it will arrive before it is too late. |
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Not to reveal my public key, against quantum attacks, I am storing my coins in unspent address but it creates address collision risk, to solve this I need to make a transaction to broadcast my public key to the network then my wallet is vulnerable to quantum attacks so I need to choose one of these, which one is more likely to happen? quantum attack or address collision
LOL. No need to worry. There are so many possible addresses, that address collision is extremely improbable. It makes no difference if you do or do not have a spend action from your address. The probability of address collision is still the same. From those 2 threats I would say that quantum attack is more probable, because it could actually happen in about 20-50 years, or never, who knows.  How many bitcoins do you have in your address? Because if quantum attack ever becomes possible there probably are much more interesting addresses to attack than yours. Currently there are several addresses, that have published their public keys and that also contain more than 1000000000$ in them. Just think about it. Would a thief select your address or one of them? And also, if they can trust the current cryptography with that kind of sums, maybe you should too. I think you are doing wisely in not re-using your addresses and keeping your coins in unspent addresses. That is the way to make sure that you are safe from quantum computers, if they ever become big enough. |
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If (and when) an address collision will happen it doesn't matter if I have the second private key. With only one I reach it, right?
If you have a private key that generates an address, you can spend from that address. Any and every key that generates the address will work. If (and when) an address collision will happen it doesn't matter if I have the second private key. With only one I reach it, right?
All suitable keys must be identical. But do not worry, this most likely will never happen Keys do not have to be identical. they just need to generate the same address. and for each address there are about 2^96 keys that will work. |
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Public and private keys do not even have to be the same to generate the same bitcoin address.
There are 2^256 private keys, that create 2^256 public keys. BUT there are only 2^160 possible bitcoin addresses. So on average there are 2^96 (=79228162514264337593543950336) private keys that generate the SAME address.
If (and when) an address collision will happen, then it is much more likely that it will happen with different public&private key pairs than it being with two exactly same keys.
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What’s the best & secured way to store passwords of crypto wallets and exchange sites?  Same way you store gold. You could dig them under 1-2 meters of earth to some safe secret location And by the way. Storing your coins in an exchange is not safe. Another reason is that if they are in an exchange you may not get the new coins that are forked from bitcoin... |
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i have only one missing part to understand the complete picture.
G is a point on the curve with two coordinates(X,Y), how can you multiply the with a number and end up with a single number(public key) and not with a new point?
What you get is a new point, which is your public key. There are two possible ways to represent your public key. Either the long one with 04 + x_coordinate + y_coordinate or (the compressed way) if y is even 02 + x_coordinate and for odd y 03 + x_coordinate Your public key is a point in the field. It is just represented in the way I described above. And you can always calculate the x and y coordinates from the compressed format too. from the public key you can calculate your address, and for that you have to take SHA256 and Ripemod160 hashes. And add a few check bytes to the end... |
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Unfortunately Bitcoin transactions are final. There is no way to get your money back. You will hardly be able to do anything with just an IP, especially if it's a VPN.
Can't be so sure about that  Sometimes thieves can move the funds straight to an exchange. In such a case you could send message to the exchange and tell them your story. Can you prove that you owned them and did not sell them to the "thief"? It has happened that an exchange has frozen the coins and returned them back to their owner. But usually thieves would circulate the coins in many addresses and tumblers before selling them. And in such a case it can be quite impossible to track the coins. For example how could anyone know with any certainty if the owner of coins change in a transfer from one address to another? Maybe the coins have a new owner who has bought them in good faith. (In my country that means that he can legally keep them.) |
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There are 2 ways to generate an address from a private key. Compressed and uncompressed. You can check both addresses that a private key generates from www.bitaddress.orgin the wallet details tab you can enter your private key and it will show both your addresses related to that key. And do not enter your private key to the webpage!! download the bitaddress page to your machine first and then examine your keys when you are offline. |
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it kept the coins untouched for 2-3 years and i just made $250k. But I never recommend it to anyone. I was stressing out like crazy over this! Thought I lost $250k worth of coins forever.
Hmmm. 23 BTC=$250k ? With that price I will gladly buy them from you One of those Bitcoins is now (17.12) worth: 1 BTC = $19566 +1 bitcoincash = $1844 +1 bitcoingold = $292 total=$21702 23*21702=$499k Edit: Noticed that the original post was 10 days old. Bitcoin was valued a little less then, but still you forgot the bitcoin cash and bitcoin gold and whatever new coins you can claim.. |
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Wow. And I thought that my country is taxing bitcoin unfairly We have 30% tax on smaller than 30000€ bitcoin profits and for bigger sums it is 34%'' Which is actually almost reasonable except that they tax profits only. If you make losses and profits in the same year, they tax the profits and ignore the losses. In other similar incomes they add profits and losses together and tax after that IF the total is > 0 |
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I'm starting to get my head around Bitcoin, Blockchain etc. but I want to learn more about private keys, their generation, and use.
As I understand any 128-bit sequence can be a private key which can, in turn, be used to generate a 32-bit address using a one-way function.
1. Is there a set of rules that narrow down what is a good private key?
2. Is there anything in place to avoid collisions (multiple private keys to one address) other than statistics?
Also, roughly how many public addresses are currently storing bitcoin?
Some mistakes in your text. Any 256bit number works as a private key, and addresses are 160bit. 1. There are no set of rules that narrow private keys, but my own opinion is that there should be. While it is unlikely that your private key would be really small, or close to 1/2 or 3/4 of the search space (psychological values, where humans could start searching for your key) You still would not want your private key to be there. 2. Nothing to avoid collisions, except the huge amount of possible keys, which makes a collision extremely improbable. About 2 months ago there were: ~21600000 addresses containing some balance and ~661000 addresses containing > 1 BTC |
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Someone asked if BCC will ever replace bitcoin in another post. I am relatively new to this and had been wanting to take a look at the blockchain explorers for sometime. So I took a few screenshots for the chains and they show the differences quite clearly A few observations and questions that come to mind: 1. Number of transactions in each block are all under 500. This means that the chain will have very few unconfirmed transaction as the blocks are just not filling up with transcations. Isn't this one of the reasons that the "transfers and confirmations"on BCC are "so fast" as of now which everyone seems to be hailing?? 2. The one block mined with Antminer shows just '1'transaction!! Does that mean that the miner simply mined an empty block?? Can someone else shed some light on this?? 1. Quite interesting. I thought that transactions in Bitcoin cash go faster because of the bigger blocksize. But your picture shows that it is rather because of less traffic. 2. That block was found less than 1 minute after the previous block. Sometimes when that happens it means that for some reason it was easier to find than usual. That is why the miner submitted it right away without spending additional time by filling the block. To guarantee he gets the block reward. Other-vice someone else could have submitted the block before him.
The usual i guess but with almost 1500 transactions per block, which is of course pretty low from the desired scaling capacities but still goes to show that the bitcoin blocks are almost going full.!
Bitcoin blocks should be full currently because there is a huge amount of unconfirmed transactions. (148000) |
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I have been reading and still hearing horror stories of Canadian banks freezing and closing peoples accounts who deposit money that has come from Cryptocurrency.
I was wondering has anyone found a bank that is Cryptocurrency friendly and will not freeze your account if you deposit money that came from Cryptocurrency?
My guess is that the freezing and closing of accounts is not permanent. As long as you are able to prove that your bitcoins were legally obtained and belonged to you they should re-open the closed account. Could take some time and or legal help though. Another thing if the bitcoins are stolen or have been involved in illegal actions like selling drugs or something. You could also sell them in another more crypto-friendly country |
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