Is it a good or bad business if you had 3.5 million but lost 2.7 million? (From a business standpoint) and won't you be attempting to figure out why and what needs to be done?
Bitcointalk is not a business. |
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Ledger Recover Service will provide you a chance to recover your wallet if you lose your wallet seed but you can verify your identity with ID card. Wallet seed will be split to 3 shards that are encrypted. How this works:
Your private key serves as the starting point for creating a backup of your Secret Recovery Phrase. Here’s how:
STEP 1: When setting up your Ledger Recover login, you’ll first need to verify your identity using your ID card.
STEP 2: You’ll be asked to connect your Ledger Nano X and give approval to the creation of the backup to your Secret Recovery Phrase. Once approved, your Ledger Nano X will duplicate, encrypt and fragment your private key into three parts within the Secure Element chip. These fragments become the backup of your Secret Recovery Phrase.
STEP 3: These encrypted fragments are securely sent to three independent providers – Ledger, Coincover, and EscrowTech that will store them in Hardware Security Modules (HSMs). Each encrypted fragment is useless on its own. When you request access to your wallet, two of the three encrypted fragments will be sent back to your Ledger device, reassembling them to build your private key.
STEP 4: The backup for your Secret Recovery Phrase is linked to your verified identity from Step 1 so only you have access to it.
But we buy a hardware wallet to control our bitcoin keys. Now we have to choose to share it with three companies just to have another option to recover our wallet later. It breaks reason why we need a hardware wallet. Two videos from Andreas Antonopoulos and Jameson Lopp. The second video is about Ledger Recovery Service. Bitcoin Q&A: Why is Seed Splitting a Bad Idea?Ledger Recover: What The Hell is Happening? With aantonop and lopp.You can continue to trust Ledger and upgrade the firmware, it's your choice. I have my mind that I will split my coins to different hardware wallets, open source like in the list. If I continue to use Ledger, I won't store all my coins in only Ledger. [LIST] Open Source Hardware WalletsCoinmarketcap should update this article with a warning notification about Ledger firmware. The 12 Best Bitcoin Wallets in 2022
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This forum is legend and if you want to find legendary Bitcoin users, find them here and learn from them.
If you want to find something funny but is not helpful for your knowledge, find them from Tiktok, Facebook, Twitter. Forum does not suspend or delete your account if you are inactive a few months like Twitter.
This forum will not die just like Bitcoin will not die or disappear. It's my belief because search engines will give searchers Bitcointalk.org is a biggest forum, on top of their search results.
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I have just now received an email with subject "Donate to Bitcoin Forum" from bitcointalkdonations [dot] gmail.com on the email associated with my bitcointalk account with content:
The email address is invalid and a signal of scam, phishing. If any email is sent by the Bitcointalk.org forum, it will be anything but with @bitcoin.org at the end, like donation [dot] bitcoin.org. I don't know the forum has that email address and it is my example. Using Google gmail, yahoo mail, proton mail is signal of scam. If you see donation [dot] bitcoin.org, you must be careful and check more. Scammers can use Homograph attack too. Homograph phishing attacks. When user awareness is not enoughOut of character: Homograph attacks explained |
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Same thing that I used to advice all windows OS users, this OS is not the best for running crypto wallets, you want to keep your keys off any centralized platforms and Microsoft is another centralized company, it's wrong.
It does not mean Microsoft steals your keys. You can be cautious with Windows OS but if an operating system itselfs can not protect your security or privacy if you don't use your device carefully with any OS. If keeping recovery seed on OS is your thing, there are Linux OS that are fully tested and trusted and they are also open source unlike windows OS, Linux OS is more recommendable for this need than windows OS.
Linux is open source that is good reason to use it. Linux is a less favorite target of hackers, less than Windows so you will have less risk from hackers on Linux. However again, Linux can not protect you and your device security will depend on you and your computer usage. |
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Furthermore, I have part-time jobbed and can lose this any time just because of this now looking for full time is this OK or no?
You can lose your job and you can lose by trading. If you have been in cryptocurrency trading for three years, you would have known that trading in cryptocurrency market is not easy. If you can keep your job, keep it. |
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Is it safe to upgrade Electrum on the same machine?
Should I try on a different machine first?
Or start again with the seed?
Safe or unsafe, it depends on you, how you upgrade your wallet. Download it from Electrum official website. Verify what you download with GPG signatures. If you are worrying about risk, you can find and delete all your Electrum wallet file before downloading and installing a new version. Before deleting wallet file, check that you have backups and they work. Where is the Electrum data directory located? |
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It is your big incompetency if you miss Dollar Cost Averaging DCA for investment advice. https://dcabtc.com/No more easily way to invest in Bitcoin than DCA method. You mentioned about spare money so I believe such investors will have good savings, income source so that he/she will be able to apply DCA. |
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Your transaction in Pending by a low transaction fee will be either confirmed after a while of waiting or will be dropped of mempools after a while. Depends on mempool setting of mining pools, it can be dropped after anytime but the most common time is 72 hours or 3 dyas but it is customizable and some mempools with big memory capacity can set it to 2016 blocks or 14 days. When you send a transactions with too low fees, it stays in the mempool of most full nodes (1) until it either expires…Surprise, even the word “expires” needs an explanation.
Since Bitcoin Core 0.12 there is an expiration time of 72 hours. This is what I meant by, when I said “your coins reappear in your wallet after 3 days“.
But this is not the whole story. This expiration time can vary between node implementation, or even completely missing. In fact, even in Core you can set the -mempoolexpiry setting.But, and it’s still not all: anyone can rebroadcast that transaction, and so bypass this expiration.I wonder if an attack would work when you setup a node and keep rebroadcasting all low-fee transactions until the end of times.
In the bigger context, it is unlikely your transaction won’t expire after 72 hours, so you don’t have to deal with it, but it’s something nice to keep in mind.
https://learn.bybit.com/blockchain/bitcoin-mempool-what-happens-to-the-unconfirmed-transactions/https://hackernoon.com/holy-cow-i-sent-a-bitcoin-transaction-with-too-low-fees-are-my-coins-lost-forever-7a865e2e45ba |
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As an owner of a small business that accepts bitcoin, a biggest fear is transaction fee.
Because your business is small, you will not be able to run marketing to cover transaction fee or partially cashback for your customers. They will have to move bitcoin and pay transaction fee for payment to buy your products or use your services.
You will have to move bitcoin that is received from your customers too. Because with small budget, you will have a shorter cycle of your financial budget. It will cost you transaction fee and you don't have long time to hold your bitcoin or wait for time with cheap transaction fee.
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Was the primary email coming, I mean from Binance? In any case, do not download any application outside the store and make sure that it is the real application, while making sure that there is no active scam, whether by asking here or via Reddit.
How to safely download and install softwareApplications: download in a secure mannerIf we search applications in Google Play, Apple Store, we will have more risk to find fake applications. If we install fake applications, our devices will be infected and money will be stolen. |
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The most favourable investment is bitcoin, and I call it the most favourable is because it gives choice of what you want to invest, time, period, management and operations.
 Did you talk about yourself? It can be true with you but not true with others. Not all people on Earth like Bitcoin and not all of them invest in Bitcoin or consider Bitcoin as their most favorite investment. |
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I was wondering where to buy a hardware wallet to store your bitcoin.
Can you recommend me one?
You can buy it online or offline at a physical store, but buy it at official one, not from middle man. Don't buy second-hand hardware wallets. There are many places online that sell hardware wallets such as Trezor, Ledger and others.
Don't touch and buy Ledger as they just break what hardware wallet should be technically and there are open source hardware wallets to use. [LIST] Open Source Hardware WalletsLedger Recover ServiceLedger is preparing to launch a new service called Ledger Recover that splits a wallet recovery phrase—basically, a human-readable form of the private key—into three encrypted shards and distributes them to three custodians: Ledger, crypto custody firm Coincover, and code escrow company EscrowTech.
You don't must to use hardware wallet. With Electrum wallet, you can set up your cold wallet or multisig wallet. [GUIDE] How to Safely Download and Verify Electrum [Guide]Creating a cold storage walletCreating a multisig wallet |
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Binance Official Verification page: https://www.binance.com/en/official-verificationPlease use Binance Verify to check whether the source officially represents Binance. website link, email address, phone number, WeChat ID, Twitter account or Telegram ID.
*Please do not contact any unofficial/non-verified sources or reveal your account details to them. For further queries, please contact Binance Support
If you want to install Binance app, you can get it at Binance website, at nearly bottom, you have download links for App Store, Google Play, Android APK, MacOS, Windows, Linux, API. https://www.binance.com/enIf they send you email, you can go to website and get link if there is real app upgrade. You don't have to click on link in email to install Binance application. |
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