Ah ok. I always wondered how someone will remind such a long list of random words. A password sentence containing special signs and lower und uppercase would look way safer than that. Though im not sure how long he would need to be.

Then its only a loosely habit that mnemonics are called brainwallet. It sounded logical since theoretical its made for humans to remind easily. I wonder why electrum uses mnemonic since its not intended to be reminded. A broader signs pool could raise security when it has to be saved in a password manager anyway. Though thats probably because of the origins... that you could edit the mnemonic.

Old thread, i know...


I think the custodians work on the spread in the orderbook. So even when they had to sell their nubits and got btc for it on the way the btc price went down, they will get btc for cheap when the price goes up again. Of course... its not an endless system, when the bitcoin price is crashing too hard then its a problem. So far the nubits have a stable price of $1 and each custodian providing liquidity to btc gets around 13% each month for his services. That should be the reward for providing liquidity. I think this reward backs the bitcoin price falling till now. So i think custodians did not really lose value at the end. Maybe in short timeframes when the bitcoin price crashed hard but not in bigger timeframes.

I think the point that there are enough custodians should show that it is rewarding for them. They wouldnt do it when they would check their wealth at the end of the month and they constantly would lose by providing liquidity.

I think the nubits price is not only established by the backing but by trust too. Seeing that bitcoins are completely a trust based currency, having nubits custodians and trusting its value, so no rush happens, is a good thing. Lost trust or hedging against bitcoins are the risks. But so far bitcoin price couldnt fall hard enough to make custodians lose their money. That the rewards paid to custodians is worth the same like all nbt is only trustbased, like its with all pos or pow coins. So the custodians earn more wealth over time.

Sounds like a not so bad system. For sure, its no fun knowing that you dont know how many custodians are there and how much btc back nbt at the moment. That would be interesting to know. At least they still live and it doesnt look like bitcoin price will fall anymore very much.

So poloniex takes the fee from the amount someone wants to withdraw too. Man this brought me in trouble since i asked poloniex to send a certain amount of my bitcoins but what was sent was less. Leading to problems with the receiver.

Why is it that in the bitcoin area there is a habit of taking the fee of the amount to be withdrawn? I mean you ever went to an ATM, asked it to get $100 in cash but instead you got $99 because they took a fee from it

This is annoying and its not only poloniex. When i ask to get a certain amount why does exchanges think i would be happy to receive that amount minus a fee?

Sure, poloniex seems to write that somewhere. But when i ask for a certain amount then i await that amount. If i take too much and no space for fee is left then i would await a warning.

This behaviour of exchanges in bitcoin area is annoying. /Rant end

You need to contact cryptsy. If they were smart they will have the list of shareholders... at least something like that.

Cryptsy should be able to let you claim your shares.

So kumala is really a person no one knows?

Thats not what i learned. And even when you are true, the asics doesnt have to handle transactions. While the asics are calculating the master computer can handle the transactions and, when you are right, then only in rare cases a 1 transaction block will happen. When the block is found before the transactions can be gone through.

Processing the transactions has zero disadvantages for hashing speed. Of course, when hashing only starts when all transactions are gone through then there might be a disadvantage. But why should they wait? They can start mining and calculate transactions in the meanwhile, then, when ready, hash on these.

Ok, ill disable it instantly. I was of the impression that this red text is only showing up because the normal use of such a question is to set up something you know and can remember, which might mean hacker can guess what you used as the answer.

Disabling now... might be better to disable that function completely then.

Maybe someone tries to hack them with a ddosing? Guess they might hold some coins. Hopefully they have a cold wallet too.

Es war, glaube ich, eine bestimmte Anzahl posts die du gemacht haben musst damit du aus dem Sandkasten raus kannst. Sollte ja nicht so schwierig werden, hast schon 11.

What is written at Deterministic wallet does not match how i created my electrum wallets some years ago. I still have a key in keepass saying brainwallet electrum and its a lot of words. It was always said that is a brainwallet so i dont know what you say i have. Brainwallet was a number of words you theoretically can keep in your mind and thats all you need to restore your electrum. So did this change or is this about semantics, like these words are named another way or brainwallet is specificially something different?

Haben sie nicht. Sie haben nur Verträge dass die Fastfood liefern wenn Lieferando Bestellungen an sie weiterleitet. Die sind nur ein Vermittler. Und lohnt sich ja offenbar für die Pizzabäcker, sonst würden nicht so viele mitmachen.

The advantage lies in the propagation time. If a miner finds a block then he is only safe that this block will be the real one when he gets >50% of all nodes convinced that this block is the real one. When another block gets >50% faster then the first block gets orphaned. Its worthless then.

The advantage of propagating a tiny block is big. You need to convince thousands of nodes that are only connected through p2p. Sending a block through all of them, one to the next, takes a lot of time.

I have read these miners have a 1% advantage because of that.

Youre right. The blockhalving will work in that direction too. Fees will become a bigger part of the reward. But it will take alot of time until thats the case. Though at least fees will be worth double of its percent value for each reward halving. So i think with adoption and fees on current level, we might see more and more 1 tx transactions.

I know what you mean, SPV mining. And i only now realize that competing pools can attack other pools that spv-mine by providing wrong block infos.

But what i meant wasnt mining on header data but building a queue on nodes.

Something like that:

Miner A mines 1 TX blocks.
Miner B mines full blocks.
Miner B finds a block, he propagates the headers to the nodes he is connected to. All nodes spread the headers to others and set this headers on top of the queue.
In the meanwhile the big block from Miner b propagates slowly.
Miner A finds a block. His block is very small. He spreads his header data. Nodes receive them and put them on position 2 in queue.
The block from miner A gets to all nodes. He gets verified completely and is valid. And the headers match that were previously sent.
The block from miner B gets in later. He gets verified and is valid. Headers match too.

In that situation the block from miner B would have been orphaned when his big block gets propagated to >50% of the nodes later. But with the queue the nodes would know that that block actually was found earlier and the block from miner A would get orphaned instead.

That way the advantage to mine empty blocks will vanish and the network will work more healthy. A big problem with more and more miners creating such blocks will diminish.

Im not sure how fast that happens but usually, when a price changes, then your offer gets cancelled automatically. You then need to recreate it. So if you didnt get an email stating so then its still alive but might get kicked when the server comes back.

Why did they risk losing all these coins? I mean these coins now might be owned by bitfinex. And when no one asks for them then they can keep it.

Why risking that the owners of the email get an email and login? I mean they would lose it pretty fast then. I dont understand this.

By the way... the owners of these emails could have taken the bitcoins too, then claiming the hacker did that.

This all makes no sense to me. At least they could have created accounts with 1 Bitcoins in it. When they are gone then the email is still in use and the owner cares and didnt think its spam.

What did they try to do with the coins anyway? They should have sell and withdraw. End of story.

Hadnt Seans Outpost some accusations about that they are fake and all? Is this cleared now or am i remembering wrong?

I guess you need to ask the donators, maybe biggest ones, for their opinion. Its their money they donated for a special cause, so changing rules there...

Thanks theymos for solving this. Maybe you can even get special offers for a big forum like that.


Though they would pay for the DDOS too and competition wouldnt. And a free market should solve the high price problem.

I dont see why the price is so high. Is it the traffic that has to be paid by them and its lower with easy solutions?

Anykey asked me to tell you that, there are no updates yet but things go further. At the end of this "Nightmare" there will be news since the judges will have the last word. He hopes that it doesnt take years and he is allowed to say absolutely nothing in the meanwhile.

He is sorry for that but works on things moving forward.

Old thread, i know, but i sat up a security question the way you wrote. I entered a strong password as the answer. I thought it might be good to have a higher level of security though now i wondered if thats the case at all.

Is the secret answer treated the same way like the password? I mean hashed and all? Or did i open a security hole now?

Besides that, i start to ask if i can raise security with it at all. I mean if you have 2 passwords or one doesnt really make a difference when you can use both on its own.

I saw the video but dont get it yet. Shares for predictions? The crowd has to vote on things happening in the future of mankind? Oo It somehow sounds like these betting sites where you can claim the bitcoin price will be that high on that date and others vote yes or now by bidding coins.

Can someone break it down a bit?