|
First I think it is crazy that a court can make you share your assets with your ex-wife. You guys have some crazy laws in your part of the planet. I hear Berlusconni has to pay millions of Euros every month to his ex-wife as "alimony". I just don't see what the justification is for something like that.
But yeah your courts are strong and they will make your friend pay up. Bitcoins are considered money now and hiding assets there is no excuse. We learned that when the SEC charged pirate.
|
|
|
|
This wallet crap is way more complicated than it needs to be (IMO). If BTC is ever going to reach the consumer level of acceptance this stuff needs to be dumbed down. I appreciate the honest attempt to school me but I actually feel more confused now.
Well this is what happens when you ask a question like this on the forums. There are a hundred ways you can do paper wallets and offline storage and each person has his own preference. So they all jump in trying to help and in the process confuse you even further. If you still want help you will need to change your approach to getting that help. The way I see it you have two options: - Read about Bitcoin yourself. Start with the basics of what public key cryptography is - what private keys, public keys and addresses are. You don't need to understand the math. Just the idea behind it. OR - Trust one person to guide you. Find someone you trust on the forum and listen to him. |
|
|
|
Hi guys, apologies if this has been asked elsewhere. I have been looking around for a while and cannot find a definite answer to my question.
I am based in the UK and interested in sending up to 5000 GBP weekly to bitstamp. After writing off all other options I looked at, I came to the conclusion that the cheapest way to do this would be to set up an international account with someone like HSBC and send euros from there. The issue here is that I know banks are not too keen on this and are known to freeze accounts.
I was wondering if anyone here has any experience with this in the UK? Will transfers of this size arouse suspicion leading to a closure of my account? Does anyone know any ways around this?
Thanks in advanced.
This is a ridiculous question. You live in the UK which is a global financial center. So of course you can wire money to bitstamp. You don't need an international or special account. Any GBP account will do. |
|
|
|
I recommend electrum or armory on an offline PC over using bitaddress. But since you've asked: 1. It is just an option 2. Transaction data is stored in the blockchain which is a public transaction ledger. When you send coins you are simply signing off ownership to whoever might possess the private keys behind a particular address. Meaning the address does not have to be online or even exist. When the person who does have the private key wants to spend the coins he simply signs off ownership to another person and sends that transaction to other bitcoin nodes. Miners add that transaction to the blockchain and it is done. 3. What tutorial?? Link please. 4. Transaction data is public information as I mentioned above. 5. Never heard of anything like this. Bitaddress runs in a web browser so having an up to date web browser is more important. It might help if you learned a bit about the underlying technology behind bitcoin. Could save you from losses in the future: https://bitcoinspakistan.com/blog/private-key-public-key-bitcoin-address-and-the-blockchain/ |
|
|
|
I generated a paper wallet at Bitaddress and sent my bit coin to it. It says I can check it's balance by going to the block chain and entering the new address.
When I do that I get "first bits not found." So how does one go about checking to see if the bit coin is there?
Are you sure you're entering the full (33-34 characters, starts with '1') address at blockchain.info? Thank you, that be it. One more question: Bitaddress generated my private keys, but do I not need to invent a password as well or is my private keys my password? Private keys are all you need to spend the coins. You can create encrypted private keys as well if you want added protection. See this post for an overview: https://bitcointalk.org/index.php?topic=353705.msg3787633#msg3787633Avoid brain wallets though. Personally I would recommend install electrum or armory on an offline PC rather than using bitaddress to generate private keys of any sort. |
|
|
|
|
Brain wallets with human generated pass phrases are not recommended.
If you want something like a brain wallet install electrum on an offline PC. It'll be much safer and have more features too.
|
|
|
|
My password was 20ish random characters - upper case letters, lower case, and numbers. After the first time it was drained I switched it to 120ish characters - random words, numbers, and symbols. Both would have been close to impossible brute force as far as I know.
As I said before when you visit the my wallet page and enter the wallet identifier you are served an encrypted copy of the wallet. Then you can take your sweet time brute forcing it offline using GPU farms. Once you successfully do that you have access to the private keys and can spend the coins sent to the corresponding addresses at will. So a) they brute forced your wallet when you had a weak password on it. Maybe they managed it when you had the 20 character password maybe earlier than that. b) If you reused addresses from when you had a weak password they could spend the coins sent to those addresses because they had the decrypted private keys. Adding a stronger password does not protect you from private keys that were stolen in the past. Another possibility is that you have a key logger on your system i.e malware. |
|
|
|
|
BTC-E does not support withdrawal to paypal. Paypal and Bitcoin are mutually incompatible so just forget about it.
BTC-E charges 0.20% commission on each trade you make. So you buy coins they take 0.2%. You sell coins they take 0.20%. The fees for funding and withdrawal are different - they depend on the currency and payment method and can vary widely.
|
|
|
|
I'm trying to import a private key encrypted by a piper printer that is using BIP0038 but electrum send me a message error that the following input could not be imported. What can be wrong?
Did you decrypt the key before importing it? You can do that offline using bitaddress.org. No I didn't. Is it the only way to decrypt a private key with BIP0038? Well no. But it's the only way that I know of to do it conveniently. How exactly did you create the key in the first place that you don't know how to decrypt it? Do you know the password to decrypt the key or not? |
|
|
|
Hello , my brother is a lawyer and he suggest me to cash out 50%. He says I dont have to pay tax for it now. But he is sure in the future they will ban it. (dont accept withdrawals from exchanges)
What do you guys think?
Forget it man. The horse has already bolted. It is too late to close the stable door now. Maybe a few months back when there was all that uncertainty regarding Gox something like this could have been taken seriously. But it's too late now. Bitcoin is going to be MASSIVE. It has too much momentum now. There is no stopping it. |
|
|
|
|
Well I am buying but not selling ATM. You can see my site in my sig below:
|
|
|
|
It's a good thing newbies have a place to post simple questions!
What is the value of having a local (on your computer) software wallet when exchanges and other acquisition sites such as localbitcoins.com require you to keep your bitcoins in their wallets?
And a follow-on question: can a local wallet coordinate wallets from multiple sites for easy viewing?
A local wallet is much more secure. Exchanges and web wallets have a history of getting hacked. That includes LBC. So don't keep more than you can afford to loose with an exchange site. In fact you should keep a tiered level of wallets: - Riskiest - exchange, web wallet - very small amounts - Moderate risk - Desktop wallet i.e electrum, bitcoin-qt, armory or multibit - amounts that you intend to use for transactions in the near future i.e say 1 month time frame. - Safest - offline wallet like offline electrum or armory or a paper wallet - large amounts and long term savings i.e. funds that you can't possibly afford to loose. |
|
|
|
I'm trying to import a private key encrypted by a piper printer that is using BIP0038 but electrum send me a message error that the following input could not be imported. What can be wrong?
Did you decrypt the key before importing it? You can do that offline using bitaddress.org. |
|
|
|
This exact thing has happened to me ~3 times using blockchain.info totalling 2+ BTC. At first I thought someone had compromised my wallet, but even after changing my password to 120+ characters and adding 2FA my account was immediately drained with no login logged. This may be a huge problem, I wonder what is happening.
Yeah someone did compromise your wallet. They don't need to login to blockchain.info's site to raid your wallet. Basically whenever somebody visits the wallet page and fills in the wallet identifier their browser gets served an encrypted copy of the wallet i.e. encrypted with your pass phrase. The attacker can then deploy GPU farms offline to brute force your wallet. If you used a poor pass phrase your wallet could have been compromised. Then it's just a case of waiting for you to receive some coins before they steal them. Another possibility is that you suffered from the blockchain.info javascript random number generator bug that affected earlier versions of that site. Search the forum for more info. If this is the bug you suffered from you may be able to get compensation from blockchain.info. Bottom line is that you should not use web wallets if you can avoid it. Use a desktop client like electrum. |
|
|
|
Thanks!
Addresses that have never even touched an online computer will also work. We call them paper wallets. |
|
|
|
|
I'd just like to point that with economic growth we should see an increase in the global money supply, right? So decades from now it will be much higher than the current $5 trillion.
|
|
|
|
Should Litecoin be the new crypto for currency, and Bitcoin exist as just a store of value?
Excellent question. Bitcoin is only a store of value whilst people think it has a value, which is because it can or 'will' be usable to buy things. If it's ever proven that it doesn't work for commerce (and I believe it doesn't) then it's value will be fraction of what it is now. Well how long will it take to prove that it doesn't work for commerce?? Surely there has been plenty of time already for something like that to be proved true or false. Bitcoin has value because it is set to become the world's reserve currency replacing the USD and also for global trade replacing SWIFT. That is where it is headed. The signs are clear from the adoption of Bitcoin in China. They've been looking for a way out of the USD trap they are currently in and this is it. |
|
|
|
If I wanted to split the seed in two parts would this procedure make sense for split cold storage:
* Generate two normal seeds by starting Electrum without datadir (part1 and part2)
* concatenate the two parts with a single space in between
* use concatenated parts as input to "restore from seeds"
* put one part to a safe place (bank locker); keep the other one safe, too
* restore from concatenated parts whenever necessary
You can generate a new wallet using the -w switch. No need to move/rename the data dir. Run electrum --help for more details. As far as splitting the seed goes you can also use shamir's secret sharing algo to create arbitrary n of m splits. Google shamir's secret sharing for more info. There's a ready made program out there called ssss Thanks for the hint. I read about ssss but I like the nice pronounceable words from the Electrum seed better. Yeah they definitely are more user friendly. ssss is for when you need more than the straight forward n of n split. |
|
|
|
Hello!
I'm trying to find Electrum's word list / dictionary and its values in HEX in order to manually convert a Bitcoin private key into 24 words. Considering Electrum's popularity, it's probably the best choice, so that even in case I lose the dictionary I will be able to retrieve it at any point in time.
Thanks!
Note that the seed to mnemonic function does not do a simple number to word conversion. It takes into account the previous number too. And if you are looking for an offline conversion system then use the existing tools out there. Two that come to mind are: https://bitcointalk.org/index.php?topic=271343.0And genjix's sx tools. You can also use Electrum itself. The library part of it can be used separately from the client. |
|
|
|
If I wanted to split the seed in two parts would this procedure make sense for split cold storage:
* Generate two normal seeds by starting Electrum without datadir (part1 and part2)
* concatenate the two parts with a single space in between
* use concatenated parts as input to "restore from seeds"
* put one part to a safe place (bank locker); keep the other one safe, too
* restore from concatenated parts whenever necessary
You can generate a new wallet using the -w switch. No need to move/rename the data dir. Run electrum --help for more details. As far as splitting the seed goes you can also use shamir's secret sharing algo to create arbitrary n of m splits. Google shamir's secret sharing for more info. There's a ready made program out there called ssss |
|
|
|
|
Show Posts
