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2121  Economy / Service Discussion / Re: Is there any NON-KYC method to buy stocks using bitcoin? on: February 25, 2023, 10:36:46 AM
There is no safe non-KYC method to buy stocks, and so there is no safe non-KYC method to buy stocks with bitcoin. I'm sure you could find some dodgy two bit broker or individual who would be willing to "sell" you some stocks anonymously, but you will almost certainly end up being scammed.

I wouldn't touch anything on DeFi with a 60 foot pole. You have no way of verifying that the token you are being sold is matched to a share or stock, and buying these tokens does absolutely nothing to the supply or demand of the actual stock. And how are you going to get paid your dividends? You won't. What are you rights in a merger or buy out? Likely zero. At best you are getting a worthless IOU which can be taken from you at any moment for any number of reasons. At worst, you are just being scammed.

If you want to buy stocks using bitcoin, then the most private way of doing it and keeping your bitcoin activities private will be to sell the bitcoin for fiat in a decentralized peer-to-peer manner, and then deposit that fiat in to your standard broker account and buy stocks as you usually do.
2122  Economy / Service Discussion / Re: What after localbitcoins.com shutting down on: February 25, 2023, 09:44:47 AM
I owe you some merits for this fact, I never thought that LBC is shutting down but now they did and now I am afraid that what will happen to the documents I provided there for high trading limit.
They say on their landing page that they will be keeping all data for 5 years, which is pretty standard for various KYC/AML requirements around the world. You should use the link they provide to delete your account to set the 5 year timer ticking as soon as possible to get your data deleted.

Data is the new way of making money but at some point we have to trust someone with the current system
You don't. There are a number of properly decentralized exchanges out there (not exchanges like LBC which used "DEX" or "P2P" as marketing while being completely centralized) which do not require KYC or indeed any personal information at all. Seek them out and use them - https://kycnot.me/

according to them they are shutting down because of the "crypto winter", though that's not totally true as their trading volume began to drop when they started requesting KYC, and that could be the true reason why they are shutting down.
Exactly. They survived for years when bitcoin was worth a few hundred dollars, but now a price of ~$24k is too low for them? This is because every serious peer to peer trade abandoned the platform when they became just another centralized data farm.
2123  Economy / Trading Discussion / Re: Anonymity vs. KYC: The Pros and Cons of Cryptocurrency Exchanges on: February 25, 2023, 09:33:48 AM
Another thing is, if you are not using CEX, converting to fiat will be very difficult.
I have never used a CEX and I trade between fiat and bitcoin regularly. It is not difficult at all. It is certainly far easier than having a centralized exchange freeze my account, seize my coins, and leak my identity on the dark web.

Honestly: I really don't believe in P2P trading, I can't find a trusted person in my local area to do P2P transactions.
Where have you looked? Try some of the exchanges listed here: https://kycnot.me/. In particular, Bisq, AgoraDesk, and RoboSats are the best at the present time. And if there isn't someone in your local area, you can still trade via bank transfer with people further afield.
2124  Bitcoin / Bitcoin Discussion / Re: How somebody can prove that my wallet belong to him? on: February 25, 2023, 09:28:45 AM
-snip-
None of these are cryptographic proof, however. You might be able to "prove" it in a court, but as we both know from our discussions regarding CSW, courts aren't exactly great arbiters of truth. And the words in your seed phrase should never be picked because they have meaning for you and should always be generated randomly, so that's a poor suggestion.

So we can say that if I recall my seed-phrase that way - it is mine?
No, because that method will never find a used seed phrase or address, even if you used all the computing power in the world and ran it until the Earth is engulfed by the dying sun.
2125  Bitcoin / Bitcoin Discussion / Re: If AI were to somehow hack into Bitcoin Core on: February 25, 2023, 09:17:06 AM
Absolutely true, but could it slow down or freeze the "blockchain" if it were to repeat the attack sequentially?  I mean if it repeats it in bursts and all nodes would be forced to fall back to the predicted version every time.
No, because this would require every node to simultaneously update to the malicious version, which will never happen.

There is no auto-update mechanism in bitcoin and no mechanism to push updates or code changes on nodes. Node operates must voluntarily choose to download and run the new version. Looking at https://blockchair.com/bitcoin/nodes right now, there are 11 different versions of Bitcoin Core which have more than 100 nodes running them. Only around 25% of nodes are running some form of version 24, which was released over 2 months ago, and 75% of nodes are still running older versions. So even if a malicious version was published and 25% of nodes moved to this malicious version, the other 75% of nodes would continue running non malicious versions. Assuming a similar split of hashrate, then all that would happen would be the average block time would increase by a few minutes until the 25% of miners realized they were mining a malicious fork and switched back to bitcoin.
2126  Bitcoin / Project Development / Re: Electronic devices that can detect wrong wallet on: February 25, 2023, 09:09:38 AM
In some cases, malware can modify the middle portion of the address, and taking only the beginning and end characters may not be sufficient.
Yeah, this is the issue. As hardware becomes more powerful, then it becomes possible for malware to match an increasing number of characters. And if an attacker knows in advance which addresses you might be sending to, then they can grind for hours or days to find a very similar malicious address. Really the only way to be safe is to check the whole address.

However, for high-value transactions or when in doubt, it's always best to check the entire address carefully.
So the easiest way that I find to do this is to put the address you want to send to physically next to the address you have pasted in to your wallet. So this might mean resizing the exchange's deposit webpage and aligning it with your wallet software window, or holding your phone or hardware wallet up to your computer screen, or something like that. Once you have the intended destination address and the address you are sending to physically within an inch of each other, it is very easy to check all the characters.
2127  Bitcoin / Bitcoin Technical Support / Re: Wallet backup & encrypted question on: February 25, 2023, 09:03:28 AM
Changing the passphrase won't refresh the wallet's 'hdseed'.
Which, when you think about it, I'm not sure that makes much sense.

If you are changing the password on your wallet file, then the vast majority of times it will be because you think the old password is either too weak or has been (or is at risk of being) compromised. Not that many people rotate passwords just for the sake of it. And so if you are changing the password, then you presumably want all future keys to not be able to be generated from any old back ups using the old password, since they are at risk of compromise.

But perhaps this would encourage people not to just create a new wallet if they think their wallet may be compromised, which is of course the best option.
2128  Bitcoin / Wallet software / Re: Thinking of separating my holdings into two physical locations. on: February 25, 2023, 08:56:25 AM
I mean, if they have any doubt it begs the question why they got married in the first place; since they're signing a document which basically means they're entitled to half of everything.
If you aren't telling your spouse you are involved in bitcoin at all, then you are hiding all your exchange accounts and forum accounts from them too? Do they not question why you have bank transfers to and from centralized exchanges or random individuals if you trade peer to peer? Or do you have a separate hidden fiat bank account that you use only for bitcoin? And yeah, how do file your taxes without your spouse knowing?

Instead, protect against not revealing you have Bitcoin to the public, and only to those that need to know.
Absolutely this. I preach complete privacy when it comes to the wider public and corporations. There is no need for Facebook or Google to know that I own bitcoin, and there is also no need for Facebook or Google to know what my hobbies are or where I like to shop. But when it comes to your close family members, then it is a different story. I trust my wife to make life or death decisions about me if I were incapacitated; why wouldn't I trust her to know we own bitcoin?
2129  Bitcoin / Hardware wallets / Re: Is Metal Seed Storage Safe in an Earthquake? on: February 25, 2023, 08:45:29 AM
Can the average person think about all possibilities? I live in an area where there was no seismic or fires before, but we are near the sea, so I keep the seeds in its normal storage, it is in paper that is not a waterproof or fire. so if something like this happens, my wallet seeds will disappear.
Even if you live in an area with no earthquakes, tornadoes, floods, etc., your home is still not immune to a simple fire. The point is that if your only back up is stored in the same place you store your actual wallets (be they hardware wallets or software wallets on a computer), then your entire system has a single point of failure.

Hey, now you mention it. I had not considered to actually instruct them to come here for advice if they needed instructions during the recovery. That a very good idea.    Smiley
Yeah. Just tell them not to share any information about your back ups and to keep everything in a public thread and don't respond to any PMs. There are many examples of such threads on this forum and the community are always very willing to help someone recover their coins.
2130  Bitcoin / Hardware wallets / Re: Is Metal Seed Storage Safe in an Earthquake? on: February 24, 2023, 09:46:19 AM
The little detail that keeps me from being fond of passphrases completely is the idea of lost coins, in the case something happens to me and my family cannot retrieve the funds. They barely understand the concept of a seed phrase.
As long as they know how to access your back ups, it isn't a difficult concept to figure out.

If they came on this forum and said "Hey, I have a seed phrase which I have recovered but the wallet is empty/almost empty. I also have a password but I don't know what to do with it.", then they would very quickly be directed to use the password has an additional passphrase and recover the coins.
2131  Bitcoin / Bitcoin Discussion / Re: How somebody can prove that my wallet belong to him? on: February 23, 2023, 09:15:09 PM
Let us make it maximum easy.

We both know seed-phrase. How can i prove that the wallet is mine???
You can't.

In the scenario where you both know one or more private keys from the wallet, but only you know the seed phrase, then it is possible to prove that you are the real owner of the wallet by providing a proof (ideally, a zero-knowledge proof) that you are in possession of the seed phrase which was used to derive those private keys, while the other party is not.

In the scenario where you both know the seed phrase, there is no way to prove who was the original creator of that seed phrase.
2132  Economy / Trading Discussion / Re: Anonymity vs. KYC: The Pros and Cons of Cryptocurrency Exchanges on: February 23, 2023, 08:55:32 PM
As long as the website is legit and you are willing to hand out your KYC, then you shall not worry because they won't likely leak you data to other companies that they know.
Except they do. Every major centralized exchange has leaked customer data. Binance has been hacked for customer data. Coinbase admitted they sold customer data to third party without customer's knowledge or consent. Bitfinex, Bittrex, Kraken, you name an exchange, it's leaked user data.

It will be better if they store the KYC away from their server so that once their site got hacked, the users KYC's are still safe.
Just means that if their third party KYC processor is hacked, then your data is stolen that way instead. And we've seen time and again that most centralized exchanges are very lackluster when it comes to the security of their users' data. They simply do not care about your data or your safety, and are unwilling to spend any real money to make the process safer.

The only safe KYC is no KYC.
2133  Other / Beginners & Help / Re: Questions about Bitcoin Node on: February 22, 2023, 03:24:47 PM
Only run a node if you plan on keeping it live 7 days a week and you want to contribute to the btc network.
It's obviously preferable if you can keep your node up 24/7, but I don't think you must be able to do that to run a node. There are plenty of personal reasons you might want to run a node, from the security it brings by allowing you to independently verify the blockchain, to the privacy it brings by not having to connect your light wallet to a third party node or server. It is perfectly reasonable to run a node only during the day, or even just for a few hours at a time when you need it. You'll just have to wait for it to catch up with all the blocks it missed while it was offline.
2134  Bitcoin / Development & Technical Discussion / Re: Is there any way to search for a transaction by prefix? on: February 22, 2023, 10:20:33 AM
nc50lc beat me to it - walletexplorer works for this. Usually down to 6 characters, but you will get a lot of duplicates with only 6 characters so better to use a few more, and obviously double check that it has indeed found the right address/transaction and not another one with starts with the same string.

Note that they are often not fulled synced with the blockchain. If you scroll to the bottom it will tell you they are currently synced to block 777,528, which is around 250 blocks from the current tip. So any transactions more recent than this won't be indexed by them yet.
2135  Bitcoin / Wallet software / Re: Thinking of separating my holdings into two physical locations. on: February 22, 2023, 10:05:06 AM
There has to be exceptions to that law, right?
It is very dependent on your country, state, or jurisdiction. Most places will require a breach of physician-patient confidentiality in the case of violent crimes, rape, child abuse, realistic threats of any of these, that kind of thing. There are also times where we would breach confidentiality but not to law enforcement, such as telling a public health authority like the CDC if you were diagnosed with a notifiable disease. Generally financial crime would not be included in any of this, but I can't speak for every jurisdiction. Further, some places can require a physician or other healthcare professional to testify against a patient in court; others cannot.

what would you have to gain by telling a doctor or someone that you committed a crime? probably none right? so why do it?
It is often important information in order to make an accurate diagnosis or provide safe treatment. Illegal drug use is the most common. But no, I don't see any reason that you would ever tell your doctor that you are holding large amounts of bitcoin.

so then you do the math. is it worth it to tell your wife some secrets that you own bitcoin?
So if you don't trust your wife to know about your bitcoin, do you trust her to know about your fiat? Do you have secret off shore bank accounts which you skim some of your income in to each month? What about your other assets together - property, cars, etc.? Better keep her name off of everything and make her pay rent to live in your house?
2136  Economy / Trading Discussion / Re: Anonymity vs. KYC: The Pros and Cons of Cryptocurrency Exchanges on: February 22, 2023, 09:15:55 AM
I really do not trust the exchanges without any KYC at all, I mean there are so many laws that bans exchanges to not ask for KYC at all, which means that if we are depositing our money into an exchange that doesn't ask for KYC, that means they are working outside of the law and in that case how could we truly trust them?
Because you aren't supposed to deposit your money to an exchange at all. Proper DEXs let you trade peer to peer, and there are no centralized wallets in which to deposit your coins. Since the exchange never has control of your coins, there is no trust required. The fact that so many people think you must give up all control of your coins to a third party in order to trade them is a triumph of centralized exchange's marketing departments, but a complete falsehood. And I have no idea how anyone can seriously question how you can trust a proper DEX when literally no trust is required, while at the same time saying that CEXs are more trustworthy, despite the fact that dozens of CEXs have collapsed and gone bankrupt in the last few months because they were stealing/gambling/spending users' coins without their knowledge or consent.

CEXs are the least trustworthy platform in existence.

KYC is there to protect you, in case someone tries to hack into your account, if you have KYC enabled that means you could provide proof that you are in fact you, whereas hackers won't be able to, because being able to hold a piece of paper that has that days date is not something they could replicate.
So you are willing to give up all your privacy, give up the security of your coins, risk your documents being sold on the dark web, risk your identity being stolen and being accused of money laundering and fraud, all because you can't be bothered to enable 2FA on your exchange account? Wow.
2137  Economy / Exchanges / Re: Anonymous crypto exchange on: February 22, 2023, 09:05:14 AM
But it doesn't matter, I have collected some topics that you can see, choose and use anonymous exchange.
I'm not sure what you think you have linked to, but those aren't links to decentralized or private exchanges. One is a link to a shitcoin, one is a link to a centralized exchange which demands KYC, one is a link to a debit card, one is a link to a payment processor, and one is a link to a 13 year old thread proposing atomic swaps.

@o_e_l_e_o because of your standing on the forum and the fact that you have had such positive trades on bisq, can I ask what types of trades you have done? i.e Cash via mail, cash deposits, personal exchanges or even bank transfers etc.
A variety. At this point my experience is atypical because I largely trade with a handful of individuals whom I have traded with many times before and we have established a degree of mutual trust.

If I was selling bitcoin to someone I had never traded with before, I would favor a cash option, since it is impossible for them to reverse their payment. If I was buying bitcoin from someone I had never traded with before, then I would be happy with any cash option or some kind of bank transfer. I tend to avoid any electronic payments apps like PayPal, where it is usually trivial for the bitcoin buyer to reverse their fiat payment.

TBH sitting here in the comfort of my home I think I would be a bit reluctant to do a face-to-face exchange.
Here are a couple of links which might be of interest to you:
https://bisq.wiki/Payment_methods
https://bisq.wiki/Face-to-face_(payment_method)
2138  Bitcoin / Bitcoin Technical Support / Re: Wallet backup & encrypted question on: February 21, 2023, 09:21:55 PM
So, does that mean that if you have bitcoins in an unencrypted wallet that is not backed up, then you would lose those bitcoins when you encrypt it?
No. As I said above, any addresses you have already generated are saved to the wallet, so even after you encrypted it all previously generated and used addresses are still there and able to be used. For a legacy wallet it simply saves any previously generated key pairs as it normally would, but changes the hdseed for all future key pairs. For descriptor wallets your old descriptors (along with their xprvs) are still stored in the now encrypted wallet and simply marked as inactive, so they are still there and can be used to regenerate any addresses they previously generated.

Encrypting a wallet still saves everything the wallet has done up until that point. It is only from the point of encryption forward that all future keys will be different to an unencrypted back up. Although obviously it is better to just encrypt a wallet right from the start and not run in to this problem at all (or the problem of some of your keys being stored in unencrypted back ups).

o_e_l_e_o, correct me if I am wrong, please.
You are correct.
2139  Bitcoin / Bitcoin Technical Support / Re: Wallet backup & encrypted question on: February 21, 2023, 08:36:07 PM
Does it generate the new addresses by using a different path?
No, the derivation path is unchanged.

For legacy wallets, it clears the keypool, rotates to a new hdseed, and then refills the keypool from the new seed.
For descriptor wallets, it rotates the key in each descriptor to a new one.
In both cases, all previously generated addresses are saved, and it is only future ones which are changed.

You can try this yourself by creating a new unencrypted wallet, using either getwalletinfo or listdescriptors to see the hdseed or the descriptor keys, then encrypt your wallet and repeat the command. In the first instance, you'll see the "hdseedid" has changed. In the second instance, you'll see all your previous descriptors marked as "active": false, and new descriptors have been generated.
2140  Other / Beginners & Help / Re: BIP39 vs Electrum Mnemonic seed on: February 21, 2023, 02:39:29 PM
You don't need to know if a wordlist has been used and which one it could be, neither to compute a checksum when it's mathematically not possible to meet the basic requirements of BIP39. Then the software shouldn't say it's a BIP39 seed, but should undeceive the users if they think it is one.
Feel free to open an issue on GitHub if you think this should be changed. I don't think it should though, for the reasons I've given below.

In the same way, you should avoid to tell in the Beginners & Help section that a 2 words seed could very well be a BIP39 seed using a different wordlist
I never said any such thing. I have been very clear in my replies in this thread that generating your own seed phrase or wallet as OP has suggested is highly insecure.

This part of Electrum which allows you to recover non-standard seed phrase, is exactly that - a recovery tool. At no point does Electrum generate insecure seed phrases, nor even allow you to generate BIP39 seed phrases at all, valid or otherwise. There is no telling what errors or bugs other poorly coded wallets have implemented, and it is not Electrum's responsibility to police them, especially for a seed phrase system it doesn't use and in fact recommends against using. The whole point of Electrum allowing you to proceed with invalid checksums, unknown wordlists, wrong number of words, etc., is to allow people to attempt to recover such invalid seed phrases which other bad wallets have generated, or that they themselves have manually generated badly.
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