reducing the difficulty. just makes it cheaper for miners to find blocks. this just results in more miners jumping in.. which ends up increasing the difficulty again.
Reducing the difficulty in a way the average block time decreases to less than 10 minutes. Assume that we decrease the average block time to 2 minutus. The difficulty will increase with the increase in the total hashrate, but the average block time will still remain 2 minutes.This will lead to a less congested network and lower transaction fees. Again, I'm not saying this is a good solution. It would make the network insecure. We don't need it all.
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I feel my wording was not good. With reducing the difficulty, we don't really decrease the total energy consumption. Because all miners are still working and the total hash rate of the network wouldn't change. As you mentioned, for decreasing the energy consumption, we need more efficient miners. To make my previous statement more accurate: For decreasing the energy needed for mining a block, one way is to decrease the difficulty and the problem is that it can lead to a 51% attack. OP suggested to make the amount of power used to mine blocks lower, so miners are encouraged to mine blocks with low transaction fees. My point was that to do so, we would need a hard fork decreasing the difficulty. I know how this can make the network insecure and I'm not saying that's a good solution. Making more efficient miners is another solution. But that's responsibility of ASIC manufacturers, not bitcoin developers.
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I think instinctively, adopters of Bitcoin will immediately turn to raising Bitcoins supply cap (probably by 2x) to solve this issue.
As already said by others, this will never happen. If you want a coin with 2x supply, that's no longer bitcoin. That would be an altcoin which can be a fork of bitcoin. One solution to this problem will be to make the amount of power used to mine blocks significantly lower as that will incentivize miners to mine blocks with lowers transaction fees.
Again, we would need a hard fork. The new coin would be an altcoin with a very insecure network. To decrease the energy consumption, we should reduce the difficulty. In the case difficulty is reduced much, it would be easy to perform a 51% attack.
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Passphrase is added to your seed phrase and make your wallet generate completely different addresses. Passphrase can be any combination of words and characters. Password is used for encrypting your wallet file locally.
When you generate a wallet on electrum, it gives you a seed phrase including 12 words. The seed phrase can be extended with a passphrase (extra words or characters). To add a passphrase, you should click on "options" and check "extend this seed with custom words".
In the case you want to recover your wallet using your seed phrase, you need your passphrase (if there's any) too. You don't need your password when recovering the wallet using the seed phrase.
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Is the seed phrase 12 words?
Yes. The seed phrase includes 12 words. If you have it, there's nothing to worry about. It's enough for recovering your wallet. In the case the new OS doesn't support electrum, you can import the seed phrase on another device and access your fund. When you say back it up, do you mean onto an external hard drive? Sorry for the basic questions, I'm not tech savvy at all.
Keep the wallet file. It can be on an external hard drive or any other place. Can you confirm I can recover my wallet with the seed phrase even if I can't get electrum to work on the computer that the wallet was sitting on?
If you have the seed phrase, you can recover your wallet using electrum on any device. If your wallet has been funded, you can use bluewallet too.
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I don't really understand what's the problem. For example, the first image shows that you have played the dice game on 20:40:30 three times. What's the problem? Anyway, freebitco have their own thread on this forum. If you have any question, you can ask there. Click here to visit their topic.
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Is your wallet synced? Tap on the 3 dots button at top right corner of the screen and check the status. Is there any connection with electrum servers?
If your wallet is synced and you are sure that you have entered the correct seed phrase, as mentioned by Charles-Tim, there's the possibility that someone has stolen your bitcoin. Go to history tab and check if you see any transaction there.
If there is no transaction, you have probably entered a wrong seed phrase. If there's transaction, but your balance is zero, your wallet has probably been compromised.
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If this is the case, we should always use a 2fa security method in order to protect our Bitcoin from being stolen whether someone had access to your device or not we should always practice using 2fa for extra layer of protection.
2FA can't be a good solution. You should always have full control over your fund. With using a custodial wallet with 2FA, you lose the full control over your fund and give the access to your coins to a third party. In this case, the service provider can steal your bitcoin at any time.
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2. Staking isn't giving huge returns but staking bitcoin or Tether with APY over 8% is somewhat profitable.
There is no such thing as staking bitcoin. Bitcoin is a proof of work cryptocurrency, not proof of stake. In proof of stake cryptocurrencies, you can stake your coins and validate transactions. Bitcoin is a proof of work cryptocurrency and works in a different way. If there's a website in which you deposit bitcoin and get interest, that's not staking. That's lending.
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Something broke when searching for some phrases (not all). For example, when searching for this phrase, it gives "No results...", although there is such a post. There is no problem with ninjastic.space. The problem is with the word "don't" and how the poster has typed it. If you remove that word from your search, you will get the correct result. (For testing, you can click here.) The poster has typed the word "don't" using an incorrect punctuation mark. From HTML content of the page: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F3Aaz1KI.jpg&t=663&c=R1e4Xts2D6uHXA) The word "don't" should have been typed as shown below. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FFedZqvX.jpg&t=663&c=5PcmOWVgfOVRLA)
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One of the many many problems with blockchain.com wallets is that at no point does it force or even recommend to the user to write down the 12 word seed phrase....
I'm not a fan of blockchain.com wallet and due to obvious reasons, I always recommend anyone to stay away from it. But they warn about importance of having the seed phrase when creating a wallet. Of course, that's not enough and they should force the user to backup the seed phrase. blockchain.com
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i dont ever remember 12 phrase password or i wouldve wrote it down on all 4 different places. Actually i just heard of this 12 word password this week looking into this.
That's not password. That's called seed phrase (or mnemonic phrase, or recovery phrase). If it's blockchain.com wallet, you should have exported the seed phrase as a backup for your wallet. some site on the net said i could download the whole blockchain and when thats done, all 300 GIGS of it , i can search for my wallet on there?
You don't need to download the blockchain. That won't help you at all. If your wallet ID looks like the format posted by Potato Chips above, you need to login into blockchain.com wallet. That's impossible if you don't have access to your email address.
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The image you posted shows that 5 blocks were mined on September 5, 2020 only in 44 minutes and 50 BTC were generated at each of them. The image is fake, because the information displayed can't be true. 1. Given difficultly of the network, it's impossible that someone can mine 5 bitcoin blocks in such a short time. 2. In September 2020, the block reward was 6.25 BTC, not 50 BTC.
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Wha, whaaaat? I keep hearing there are no fees whatsoever and even no limit on "day trading" crypto! Is this no longer the case?
Robinhood or any other centralized exchange charge you for the service they provide. How can they earn money if they don't charge any commission? Users usually have to pay trading fee and withdrawal fee when using exchanges. Some exchanges earn money using the difference between buy and sell prices.
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I've read about how BTCUSDT is some kind of token tied to the dollar
BTCUSDT isn't a token. USDT is a token (that is claimed to be) pegged to dollar. BTCUSDT means bitcoin price / USDT price rate. Assuming each USDT token is worth 1 dollar, BTCUSDT means bitcoin price in dollars. So, following BTCUSD seems to make sense to a newbie like me. But, then I keep seeing youtubers watching BTCUSDT in their tradingview screens.
No problem. There shouldn't be a big difference. Note that even if you look at BTCUSD at two different exchanges, you will see that the price isn't exactly the same. Am I okay watching BTCUSD for trading a little bitcoin in robinhood as a total noob? Thanks
If you only want to see the price, yes. It's OK. There shouldn't be a big difference between the price shown there and other exchanges. If you want to buy bitcoin from robinhood, you should notice their commissions too, especially if you want to buy a low amount of bitcoin.
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I tried the tool you suggest yesterday but I had a message like "404 not found, this topic isn't archived".
It seems that you didn't follow the guide posted by LoyceV. The tool doesn't scrap all the threads automatically. You have to request it. For making a request, you must post the link including ID of the topic you want publicly somewhere on the forum. https://loyce.club/showall/1935098.htmlOnce I post this, LoyceV's tool should start to scrap that thread. Of course, the thread has been already archived and you should have been able to see the outdated page at least. Something probably went wrong when you tried to see that page. Edit: All 121 pages were srapped. LeGaulois, if it still doesn't work, CTRL+F5 may solve the problem.
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not sure why, cuz it lets anyone you want payment from to to see your balance?
All bitcoin transactions are recorded in the blockchain and they are public. You can go to block explorer, enter a bitcoin address and see the balance and the transaction history. Bitcoinwallet.com seems to have the most info displayed when i search for that bc adress
This doesn't mean your wallet has been created in that website. You probably visited their block explorer. As I already said, all bitcoin transactions are public. Your transactions can be seen on many other websites too. As you are talking about a wallet ID, there's a high possibility that you have created that wallet on blockchain.com.
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You can't see all posts in a single page if the thread has more than 25 pages. LoyceV has provided a tool which scraps all the posts made in a thread and show them in a single page. Visit the following topic. It may be helpful to you. "Show All" on long topics
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You can recover your wallet, if you have one of the following:
- Private key - 12 word seed (which was actually a brainwallet passphrase in very old versions of electrum) - Wallet file (+ password, if it's encrypted)
If you have none of them, there's nothing you can do and the fund is lost forever.
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A fucking random guy reveived the btc
How did you find out this? And what do you exactly mean? Do you see an outgoing transaction from your bitcoin address? Or the withdrawal has been made to a wrong address? Where did you download electrum from? Electrum official website is electrum.org. If you downloaded electrum from any other place, it's likely a fake version.
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