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The supply is not going to drop, as the Bitcoins that are stored on erased harddrives are not actually gone.
These unspent balances are still registered on the distributed blockchain, even though it's close to impossible to access them.
Bruteforcing the private key is the only way to recover access to them, which requires insane amounts of computing power.
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The fees were high because some idiots were spamming the network. But that seems to be solved, looking at the current fee of about 10 cents. So, what's your opinion about Bitcoin now?
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Secure Myetherwallet in the best way?, Who can help me?
My friend has been hacked for myetherwallet over 150 ethereum along with all tokens including mattrix, fusion, ptoy, ......
The recent myetherwallet security is constantly hacked, so is there a better way?
I'm using Metamask to secure my mythical wallet, but hacking still happens normally!
Is there a way to retrieve the ethereum number and the entire token lost to my friend?
Please show me how to secure the myetherwallet in the best way!
150 Ethereum equals a lot of money, you shouldn't store that in a third-party cloud. Instead create a paper wallet or use a desktop wallet, preferably on a offline computer (not connected to the internet). Web-wallets are useful for active usage, like shopping but you shouldn't use it as a bank account. But if you really want myetherwallet, then make sure to have an unique password without words and also double check if your computer is not infected. |
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Bitcoin is better divisible for exact amounts, up to 1/100.000.000, called a satoshi. Gold is a precious metal and therefore not easy to divide in parts, price could also change during the cutting and measuring, so it's not efficient as a payment method. Bitcoin is called digital gold because of the fixed supply, not because the characteristics it has for payments.
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We store most of our data in our phones or online in some cloud based storage. And there are numerous ads while we are surfing on the internet. And if by any chance the ad has some virus or is put up by an hacker. He can easily ge our IP address by which he can get into our phones and collect all th stored information in it. Everything! And that is how most of our wallets or accounts get hacked!
Hacking someone's account can be done by the professional hackers. They have the knowledge, skills, gadgets and GUTS. That's why you should change your passwords very often. You don't have to change your password as long as you don't use the same password on multiple websites and have a very strong one. Also don't use existing words in your password, these can easily be cracked using dictionary attacks. |
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I have been hearing people saying their account got hacked by hackers and each time I hear this I ask myself how is this possible, not until 2day ago I was hit by an hacker! I don't know how he got access to my private key, even if I give you the private key, is as unless as nothing, this is because the private key digits are not complete, to get the complete key you will also have to hack my brain.
In all the various places I stored my private key I always make sure the digits are not complete, in case someone mistakenly get access to it.
But how this guy manage to get access to my key still remains a mystery to me.
The question is, if you have been hacked before what mistakes do you think you did that result to you been hacked. Maybe this will help me find my fault.
It's Myetherwallet account
Your funds have probably been stolen by vulnerabilities of the web, this includes phishing, man-in-the-middle attack, JavaScript or a compromised browser. That's why it's recommend to use paper-wallets, air-gapped desktop wallets or hardware wallets, as the attack surface is much smaller than that of web-wallets. |
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SegWit usage hasn't increased much more than during the high fee period. The transactions on the network seem to be decreased, so there is less spam on the network than before. This results a decreasing mempool which eventually stops the competition of miners selecting the highest fees, now they just include (almost) all transactions in the block
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The war already started, good proven example is the Polish central bank that payed Youtubers to bash Bitcoin in videos. This is probably not the only action banks took against Bitcoin, but it has been proven. I think that it makes sense, because Bitcoin is probably the biggest rival of banks that is out to the public, looking at the technology that would make banks useless.
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Bitcoin has been around longer than it's competitors, not by a year but mostly multiple times the lifespan of an altcoin. This means that Bitcoin has a longer blockchain, including the difficulty makes the network almost immune to attacks. Some altcoins even include block hashes of the Bitcoin blockchain to strengthen their own. Also because it was the first, it's more adopted in the society than altcoins. For example, I can pay for my groceries in the local grocery store with Bitcoin, other cryptocurrencies are not accepted yet.
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The reason for the demand is the rapid increase of value, which is caused by a high demand. I personally feel that most new investors are really here only for the money, they don't seem to care about the inner-workings and the way Bitcoin solves problems. Luckily this also brings people that came for the money, but stayed for the technology. Maybe that's what causes the new stable bottom value, who knows.
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Advertising Bitcoin is not really necessary anymore, the term Bitcoin is well known to the public. The only thing that would really help is clarification, as most people have a bad understanding of the purpose and inner-working of Bitcoin. But I'm not sure if Social Media is the right place for that, because I think most people are using the platform for quick amusement rather than serious information. Although I think Bitcoin is very amusing, much people don't feel it that way, they would only come for the quick profits. The people that got interested because it's essence are already here or will join later.
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Harddrives are not that expensive anymore, considering that a 1 Tb HDD costs less than $40. I don't agree that an average person can't afford 0.15*40=$6 to store the full blockchain. Also downloading the full blockchain is not impossible either, you just need to have some patience. It took my less than 2 days to download the full blockchain, while I don't have the best hardware. Besides that, you don't really need to have the full blockchain on your computer to use the bitcoin ecosystem. It's your own choice whether you contribute to decentralization by having a full node or use Bitcoin by trusting other's blockchain. Last thing, deframenting your HDD will speed up the syncing process, although Windows does this automatically each week.
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It's called proof-of-work and there are alternative protocols like proof-of-stake and there is also a derivative, called delayed-proof-of-work. The different protocols are not proofed to be more decentralized then each other, so it's really an opinion right now. But because PoW was the first protocol, designed in Bitcoin it's the one that the most top coins have implemented. Also it's interesting to know that some coins use multiple protocols to distribute coins, for example Peercoin which uses PoS and PoW.
- Edit: I forgot to mention that the only way to generate Bitcoin is by PoW, alternative chains sometimes use different protocols.
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Are you talking about Bitcoin Core syncing to the blockchain? If that's the case, then there are some ways to get faster speed. But most of these ways are not really realistic and require purchases. The only thing that is free and might give you some extra speed is defragmenting your harddrive, however Windows does this automatically each week, so it possibly not that effective. Then you have ways like changing your ISP, going wired instead of wireless and upgrading your hardware.
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It could happen, although I think that it doesn't mean anything, as Bitcoin is a crypto currency and Ethereum a platform. Also both coins have competitors with better technology, I don't think that means anything either. The market trend have showed that the biggest coins are the one's with the most trust and thus being the one's with the longest history, a lot of people forget that.
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It is better to look for diversification. Don't keep only one asset (token). Look for more good projects to invest in.
That's not really true, at least what the previous markets trends showed, when Bitcoin dropped any other other coin/token did too. So it's not really worth it to do diversification in the crypto-sphere, instead diversify your investments over multiple categories, for example minerals, assets and also crypto projects. |
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I prefer both for different things, as you can't exchange fiat to crypto in a decentralized exchange. I use centralized exchanges to convert my Euros for Litecoin, then after the exchange is done, I transfer them to a decentralized exchange and buy whatever I want using Litecoin. I think it's hard to compare both, you can't trade without centralized exchanges. Also I believe Binance belongs in the list of decentralized exchanges, doesn't it?
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At least tell us why you think the price is controlled by Artificial intelligence. I personally think this is total nonsense, price is driven by demand and supply, period. This thread is in essence not any better than a thread saying Bitcoin will be $50k at the end of the year without any analysis, just a random guess.
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You can't compare miner fees to tax, it's a whole different thing. Tax is going to government to provide infrastructure and much more for it's citizens, miners don't do one of these things with the money they get from transactions. Also assuming that everyone complains and don't want to pay tax is subjective, same thing applies for miner fees. I am personally not against paying fees to miners, otherwise the whole system wouldn't work. No miners means no proof-of-work, means no blockchain.
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I'm not very familiar with LN intrinsics but I'm pretty sure that Bitcoin's legacy protocol is not very "friendly" towards LN. For example, we needed Segwit activation to make transition to LN more smooth. There might be a lot of other roadblocks to its most efficient implementation. And if LN is actually the future of decentralized payments as many people claim here, why not implement it from scratch in an entirely new coin which would have LN from the outset, without compromises and trade-offs?
So does anyone know about any such effort?
It has been done a couple of times using a hardfork, but not much success so far. I think the greatest favor of Bitcoin is it's image, it has been around for a long time and it showed to be very immune for attacks. I would rather see a layer build upon the original Bitcoin, where the old system can still be used and that's what they seem to be doing now. |
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