I followed this when it happend, how did it turn out? Anything refunded?
First 100k was refunded, everything else is gone for good. Ridiculous.. Yes, it's ridiculous. But make no mistakes: preparations are done in all western central-bank-controlled countries to pull this off on a larger scale. |
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I followed this when it happend, how did it turn out? Anything refunded?
First 100k was refunded, everything else is gone for good. Is he now a proud shareholder of a respected bank? |
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Im scared AF to cash out on my little Bitcoins I have, it's very scary to know they can froze your entire saving accounts out of nowhere. My friend tried to withdraw 0.5 BTC and he got his bank account frozen until they basically want to unfroze it. I'll have to re-check im doing it all perfect if I ever want to withdraw some BTC.
I wish people would stop referring to "selling BTC for fiat money" as "withdrawing BTC". |
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Does wiping the Trezor then restoring the seed in any way lessen the security of that particular seed? I feel a little uncomfortable moving my fortune onto the wallet without first testing that I can restore it. Before creating my final wallet, I did extensive testing with creating then restoring wallets with and without passwords.
I recommend testing the seed. Here's a little story: I had a seed and quite a bit of money on my trezor. I had tested seed restore before, but hadn't tested that seed. When I received my plastic trezors, I wanted to restore that seed to one of it as backup. Guess what: It wouldn't work. I tried roughly 5 times to restore the seed. Only after having moved the funds to a new seed and a couple of days later did I notice I was misreading my handwriting on one of the words. |
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Why is payment only in Bitcoin?  go buy some bitcoins (don't invest more than you can afford to lose) |
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Is there a way to toggle the "request-password"-flag in the trezor without reinitializing it?
As no-password results in the same wallet as an empy password it would be nice to be able to switch between the settings (without having to generate a new seed).
I second this feature request. |
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There is no end guys, this seems to be a new bear market  Get out while you can and return in a few months to buy dirt cheap <mandatory Warren Buffet quote/> |
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Hahah btc getting bitchslapped as usual.
Gold is money, everything else is a fad. Remember that, kiddo !
Nevertheless I believe we are going to a 1000 based on market analysis
Oh, i dont doubt it's going up. Way up. But, not before it dips one more time to 35 bucks lol i dont want to get suckered on my first coin purchase. I now understand your negative attitude. You're still waiting for $35. |
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i don't know what is worse: this catastrophic price movement (i am losing a fortune) or that those goddammbeartrolls were right.  hehe. clearly the former. |
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Just posted the following on reddit in response to "wtf is causing price to fall?", thought I'd share it here, too: ----------------- Market dynamics: Negative feedbackUsually there is a dampening effect prevalent in the market - when price rises, demand decreases and supply increases
- when price falls, demand increases and supply decreases
It's pretty easy to see: at lower prices there's more people willing to buy, at higher prices there's more people willing to sell. This has dampening effect on price movement: each time the price wants to take a hike in any direction, it's slowed down by this. This is called **negative feedback**, because a result of the process influences the process itself in such a way that **it reduces changes**. However in some situations like now there are stronger effects that resemble **positive feedback**. With positive feedback, the results of the process influence the process itself in such a way that the **magnitude of the change increases**. I can think of a couple of things that might currently be in effect and have a positive feedback on falling price: - Miners: miners are forced to sell part of the mined coins to cover fiat expenses. A falling price causes them to increase the percentage of coins they have to sell => positive feedback
- Margin calls, forced liquidation: falling price can trigger leveraged longs on exchange to be automatically liquidated, which results in more selling => positive feedback
- Market participant psychology: falling price causes frustration, anger, and fear in at least some market participants, which in turn causes them to sell => positive feedback.
So: the system is out of balance. Fortunately, all of the above positive feedback effects are dependant on some resource that is reduced and ultimately depleted in the process: - miners: they cannot sell more than 100%
- liquidations: there's only so many longs
- psychology: the panic-sellers have only a limited amount of coins
So don't worry: the imbalance to the downside is only temporary ;-) ---------------- not sure how naive or accurate, but these are my thoughts on the reasons of the price fall. |
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(Deshalb gewinnt der Homo Stupido in 90% der Fälle, während der Homo Oeconomicus zu 90% falsch liegt) Ich sags doch das glück ist mit denn dummen . Was mich verwundert ist dieser systematischer dumpverlauf die letzten tage erst gings von bitfenix aus dann 4 börsen gleichzeitig und jetzt von btc-e Genau das ist es auch aus meiner Sicht: Systematischer Dump. Ausgerechnet auf den kleinen Börsen wird soviel verkauft, wo es den Kurs richtig runter zieht! Zufall ist das nicht! Und meiner Meinung nach ein weiteres starkes Zeichen für eine bevorstehende Blase! milking the sheeple |
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It's always darkest before the dawn  True. Also: Only when it is dark enough can you see the stars |
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What worries me now is that we're still seeing low volume on these bounces, and LTC STILL continues to fall. I think this is a strong indication of further sell offs for bitcoin. Sub $400 is looking more and more likely.
blarg. <$400 would paint quite a tragic technical picture. It would likely mean <$300, too, maybe even worse. I'm all for staying above $400. |
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no, you use the same 24 words.
seed_wallet1 = seed + passphrase1
seed_wallet2 = seed + passphrase2
Beat you to it. And stick beat us both  |
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I expect my TREZOR to arrive some time this week! In the meantime, I have a few questions about the setup. I have read the online User Guide, but there are some details that are not clear to me:
1) At what point during the first time setup is it ok to unplug the TREZOR from the computer? Do I have to wait for the full recovery seed recording to be completed? Or is it safe to unplug the TREZOR, and still complete the initial setup?
2) If I want to set up a Multi-Passphrase Encryption, what are the exact sequence of actions. The instructions are extremely vague, and I do not want to make a mistake. (Does it only work right after the first time setup, or can I force a second setup after lots of use? Is there a second set of recovery seeds that I need to record?)
3) Once there are more than one passphrase set up correctly, how do I access one when I plug it in?
4) Is there any detailed description or screenshots of how to use the multiple Accounts and their associated addresses? (The user guide is sparse on details.)
Thanks
This is what I found out: If you want to use passphrases, check the passphrases box when initializing. You can use it with no password, except the password dialog appears when you plug in, just click enter. To change from one passphrase to another, you have to issue the "forget device" function. Just remember that the passwords are a part of the seed, so you need to safely write down both your 24 seed words and your passphrases. Here is what I think you are saying to set up multiple passphrases: a) check the advanced box to enable the passphrase b) enter a passphrase and then record the 24 words. Let's call this passphrase1 and seed1 c) select the forget device function d) enable and enter a new passphrase and record a new set of 24 words. These are passphrase2 and seed2. e) always forget device before leaving myTrezor so that it forces me to enter a passphrase These details are fuzzy and I'm not sure if this is how it works. Are there two separate sets of seeds words when you use multiple passphrases? thanks no, you use the same 24 words. seed_wallet1 = seed + passphrase1 seed_wallet2 = seed + passphrase2 |
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We are probably a few hours from either impending doom or staring at a lack of volatility while we fearfully anticipate impending doom. So, on that note. How is insomnia treating everybody this week. This has been the worst week for me ever in terms of eating, exercise, sleeping, and general bathing. How about the rest of the team?
I have eaten rather well, thank you for asking. Slept - not so much. But the said dinner lasted 8 hours from the appointed time, what can I do?  coke? |
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 I think these (1: april 2013 aftermath, 2: december 2013 aftermath) are quite similar. Now we even have the final blip down. In case of 1 this was caused by the silkroad bust, in case of 2, I don't even know. There are of course differences, too. 2 is quite a bit slower (takes longer time), for example. Of course I'm not the first one to notice this, just wanted to remind the bulls there still is hope |
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Yes. Actually there are 5 and we use 3-of-5 scheme.
Do you store those signing keys themselves on a Trezor? Of course not, just the public ones. I think he didn't mean "on every trezor out there", but "do you use trezors to store the signing keys?". I'm guessing they wont reveal any details about how they protect the signing keys. |
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I just finished setting up my trezor wallet. While copying down the seed I noticed that one of my seed words came up twice in the seed of 24 words. Is this normal? should I wipe the trezor and make a new seed?
No, that's ok. EDIT: just calculated the probability of getting a seed with a "double word": 13.67%. So if you disallowed these, you would reduce entropy quite a bit. |
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Bitfinex increases allowable margin from 2.5 to 3.33 on Monday.
That should decrease margin calls and may even spark a rally.
That's pretty awesome news. if that will spark a rally we all gonna be very surprised and happy :-) But even without a rally this is a good change. Why does this sound like a banker or politician wanting to stimulate an economy? |
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