A bitcoin company invests in bitcoin. How is this news?
It's news cause they are choosing to hold Bitcoin in their reserve funds over fiat. The fact that a company is affiliated with Bitcoin such as this doesn't mean they have to trust it as a store of value. Mining is profitable if you have affordable access to electricity and modern equipments, the profit is what attracts most. But holding your reserve funds in Bitcoin is a different level of adoption.
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It's a mixed bag. Some institutions are investing, others appear to be unwinding. Two metrics to note, both have to do with Grayscale. First, inflows have slowed, suggesting institutional interest may be cooling off. Second, the GBTC premium has massively dumped and is currently around 7%, the lowest I've seen it in many months, probably years. Could be a minor pull back to assess the market as it has been going sideways for sometime now. Or we may have hit the ceiling with the current wave of interest and the next set of institutional investors would react if the market changes direction. You're cheering the investment of a company that wants to police the network based on what they see as a clean or a suspect transaction!
An attempt to check the network is certainly unfavorable and negates the decentralized nature of Bitcoin, and I wasn't aware of this when I initially made the post. Adoption is welcome, but what is more important would be holders who actually understand how Bitcoin works and uses it the right way. <snip> Okay, I'll need a bit of clarity. You're saying the fact that they are only accepting transactions which they consider to be clean, means they would not be able to completely fill blocks they mine, this would then result in them having to increase the feerate to balance out the rewards they get from transaction fees? Or am I completely missing the point?
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I will try to get the information re the wallet (again a word i am unfamiliar with). A wallet is a means by which you access an address and initiate transactions. There are different types of wallers and they operate on different software specifications. You'll need a rough idea of the wallet to be able to import your address, for example some only accept certain address types, so if your mnemonic words are a certain number; 12, 15, 18, 21 or 24, you should know which wallet is best to import it on. An address basically has a private key and a public key. • The private key is used to sign transactions, • The public key is used to receive as it determines the public address, • The mnemonic or seed or recovery phrase is a representation of the private keys. You have the private key and seed phrase which is enough to import an address. Download (from the original website) a compatible wallet, preferably non custodian and follow the instructions to import an existing address for which you already have a seed.
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Can you share your journey and what you have learned and achieved from the beginning when you first step foot here in bitcointalk?
This forum was my first means of contact with Bitcoin and it has helped to grow my knowledge about it. Before now, I mostly had apathy towards financial intelligence and didn't think too much about how money worked; but with the discovery of Bitcoin I began to challenge the status quo and ask questions about why things were the way they are. • Financial consciousness is one of the top lessons I've learnt so far. My journey here has been relatively simple, I started off as a newbie and rose to the Hero member rank (aiming to be a legendary member soon). I didn't really aim for merits or rank early on, as I was only interested in learning more and understanding how bitcoin works as well as discovering new topics.
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This is not really a Bitcoin problem and the topic title is a bit misleading as it's associating bitcoin directly with scams, which is not the case. Scammers are ripping people off and using Bitcoin as a means of payment, if USD was accepted rather, would it make it a dollar scam? Likely not, it would just be a scam. If someone chooses to send bitcoins to someone in the hope that they'll get double back after doing absolutely nothing, then that's on them.
The internet is rife with scammers and anyone who frequents the web should have developed security consciousness as it would help in protecting them from scam attempts.
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Back in 2017 i transferred ETH to my Jaxx account. For some reason i used two different receival adresses.
Were they two completely different addresses or did they share a single master private key like in a HD wallet? It appears that jaxx disabled the hierarchical deterministic feature for ETH and some ERC-20 tokens - PS. We have disabled HD for Ethereum (ETH), Ethereum Classic (ETC) and RKS (RBTC) as the genesis address in only utilized to keep tokens in one address. https://support.decentral.ca/hc/en-us/articles/220701728-My-address-keeps-changing-What-is-going-on-The article was first posted 5 years ago, so not sure if it applies in your case since you said it happened in 2017. Also not sure how it affected previous HD wallets on that platform. What exact error are you getting when you try spending it on jaxx? Have you contacted their support, if yes, what was their response?
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There are lots of fake and phishing websites advertised on Google, they take very long to be brought down and pops back up soon after. Finding and reporting them is helpful, but not very efficient and cannot be done quickly enough to prevent users from falling into scams. Users should also learn about safe browsing and how to protect themselves;
• Use an ad blocker • Avoid search engines like Google • Download through the official website • If the platform is open source verify that you're on the correct one. • If it's a platforms for sending and receiving funds, try using test transactions to ensure everything works smoothly, by using very small amounts • Reviews and number of downloads could be helpful, but should not be relied on. • Do not trust, verify.
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The major governments of the world have for some time been laying the groundwork for their own national cryptocurrencies. Does that matter? Yes, it matters a lot. Bitcoin will be a direct competitor.
Governments do not need to have a digital currency built on the blockchain inorder to ban Bitcoin, theyncan attempt to restrict its usage even if hey had no alternative, as some countries have already done. The reason they would want a CBDC is to give users an alternative to Bitcoin, which would give them the qualities it has (although, this would not be the case). Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening.
Control is really the only reason. Financial crime is mostly funded by fiat and Bitcoin does not facilitate it. How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
I think it is highly unlikely, Bitcoin is still at its budding stage but has gained lots of adoption by individuals and businesses, an outright ban would not be very practical as it could negatively affect the integrity of the government as well as push holders to other regions. A more likely scenario would be government agencies seeking for more control by strongly regulating centralized platforms linked to bitcoin.
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I am foreseeing the same fiat players getting the upper hand in the Bitcoin world.
I don't really consider this to be bad for Bitcoin or retail investors, if they choose to sell, then they would have as easily sold to anyone else if there was no institutional interest. Also, if you're flipping fiat for Bitcoin then maybe you are not such a fiat player after all, and it would be an unprofitable plan to try affecting the value of Bitcoin by buying and holding, in an attempt to control the market. Retail and institutional investments indicates demand and one should not be prioritized over the other.
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Your explanation is a bit confusing yes, i have the paper wallet private-key. thats the one i have to use? i used that paperwallet private key to create the watch only wallet. but if i use the same private key in the watch only wallet, nothing happens. because bitcoins are not anymore in the paperwallet, they are in the watch-only wallet.
Importing with a private key would not result in a watch only address, this only happens when you use the master public key. If you used keys from the paper wallet to create the new address, you should be able to recover the funds if you have the xpriv as all child addresses are linked in a HD wallet. If you swept the funds then, it was sent to a completely new address from the paper wallet and as such keys from it will not work.
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Companies often buy assets, their own shares even but they do so with a particular plan to mark against markets and volume within that market.
Buying at the current price doesn't mean they didn't have a plan. A lot of companies are just beginning to really take notice of Bitcoin. And rather than hesitating for more drops in price, they choose to jump in as a difference of a couple thousand dollar buy-in price would not matter much in the long term. Hesitating could also push the price farther away as it was >$40k some few weeks ago. I wonder if they're hoping bitcoin will explode and thus boost their stock price a little bit (I can't imagine not hoping that, but I'm also wondering if that's the sole reason for the purchase.
Well in the article the CEO was quoted to have said: "We also believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like MicroStrategy,” ... So the sole reason may have not been to boost their business side by investing in Bitcoin, and it may have something to do with them realizing that Bitcoin is better than fiat for the long term and they'll be better off having it in their reserve coffers.
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Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, today announced that it has purchased 4,812.66 BTC in an aggregate purchase price of $150 million. As a result, the Company has strengthened its position as one of the only Nasdaq-listed, pure-play investment options for individuals and institutions seeking exposure to Bitcoin. Bitcoin is adopted by yet another public company, this time it's a pure-play investment option. Side note: A pure play stock is one which focuses on a single product or service; there is no diversification and it runs on a single means of revenue. In this case, that source of revenue is Bitcoin as Marathon is a mining service which focuses solely on the blockchain technology.A quick check shows that they bought each Bitcoin at averagely $31,167.79. This goes to show that institutional investment and interest is growing despite the price increase, so a lot of people expect that there is still huge potential for growth and that Bitcoin is the monetary system of the future. More details:To ensure the purchase was conducted effectively, Marathon worked with NYDIG, a leading technology and financial services firm dedicated to Bitcoin. NYDIG’s trading, execution, and asset management expertise enabled Marathon to take advantage of favorable market conditions and execute the transaction as efficiently as possible. “By purchasing $150 million worth of Bitcoin, we have accelerated the process of building Marathon into what we believe to be the de facto investment choice for individuals and institutions who are seeking exposure to this new asset class. We also believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like MicroStrategy,” said Merrick Okamoto, Marathon’s chairman & CEO. “To date, we have contracted to purchase 103,060 miners, all of which are currently expected to be delivered and fully deployed by the end of the first quarter of fiscal 2022. If all miners were operational today, based on the Bitcoin network’s current difficulty rate, we would produce approximately 55-60 bitcoins per day. However, by leveraging our cash on hand to invest in Bitcoin now, we have transformed our potential to be a pure-play investment into a reality. I would like to thank the entire NYDIG team for offering their unique products and services for public companies, and for working with us to expedite this process and ensure the transaction was made on the best possible terms for our business and our shareholders.” Source: https://ir.marathonpg.com/press-releases/detail/1224/marathon-invests-150-million-in-bitcoinSome people would wonder why a mining company would wish to purchase Bitcoin while they get then from mining blocks. Well, despite being a mining company, it still holds fiat in it's balance sheet and as a reserve currency as that is still the common choice, however, with their shift to a bitcoin standard, they are pushing the idea that Bitcoin can function effectively in that regards and there's no reason to sell it or convert it to centralized currencies.
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How exactly where you hacked? If it was through an email compromise, then you will have to protect your address; use security conscious mail services, like protonmail. Do not expose your personal details and do not use the same address for multiple platforms, so a breach in one does not result in a breach in all. Also, take all precautionary measures: • Use a strong password and change it from time to time. • Do not log in over unsecured WiFi • Check for phishing sites, some would use the forum's interface and try to trick visitors into entering their login details. Also if there is any way to restore my old account, it would be really appreciated.
Is the account still active? If yes, try restoring the password using secret question. This would lock the account and prevent the hacker from causing more damage. If you don't remember the secret question, you can request that DT members tag the account, but you'll have to prove that it is yours for that to happen. Then follow the instructions in the link above.
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I also do not think that information is enough to reveal the entire private keys of the address. Only 12 characters are visible out of the 51, of which, the first two are easily predictable as it's common to a lot of addresses. I would assume, it should be impossible to find a valid sequence to satisfy the requirements and checks for a private key from that image.
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I don't want to make you hopeless, but chances are very low changing your name. It's the true admin has been changing a few names, but most probably they were good contributors or they have represented a company. I think a valid reason for a name change outweighs the reputation of the account requesting it. If a newbie wanted their name changed for privacy reasons or security risk, their request is more likely to be accepted than a higher ranked member who wants a change for the sake of it, with no valid reason.
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This could result in Information overload, especially for newbies. There are already so many threads with useful information for members to read, and I believe only those which contains imperative information should be pinned, like the board description or rules of engagement, such information is not modified often, and if it is, it's structured around the original post and only an edit is required. but they can be very useful thread that doesn't modify any pin thread, but it has it own space of usefulness that may or should be for everyone especially the late readers I doubt there are so many of such cases where new threads needs to be pinned and if you do come across one, you could request for it to be pinned. I remember one was recently pinned on one of the boards on request. This is not just as common to be an issue yet.
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What if I delete a crypto wallet that still has a bit of crypto in it? Wallets do not hold or store the funds in your address, rather they are tools you use to access it. In simple terms, your Bitcoins (or any other cryptocurrency) are representations on the blockchain with public keys which you can use to check the balance and transaction history or to sign new transactions. If you use electrum wallet for example and have an address on it with some Bitcoins, deleting the wallet software doesn't delete the coins as well. With a backup of the phrase you can always recover it. Of course if there is no backup seed phrase and the wallet file is deleted, there's no other way to spend the coins in it.
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But even then the saftest thing would be to write the seed down? You should never rely on a device on its own? Having backups is very important if you hold bitcoins, this could be written down on a piece of paper or engraved on a more durable substance so as to resist damage. It's technically not the same thing as cold storage. Even if you owned a hardware wallet, it's good practice to keep backups, preferably more than one in different safe locations. Also, never rely on a wallet software or hardware as this is a decentralized network, this is why it's advisable to use a wallet that is open source, so you do not have to trust them but rather verify every piece of information.
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Some argue that it is an asset but their explanations does not convince me. Now I ask, what is bitcoin if it is not cash?
What explanation of what Bitcoin is convinced you? That is exactly what it is to you. There is no fixed use case for Bitcoin, people use it for different purposes as it suits their needs; It can be a store of value or a means of payment or a a tradable asset. Now I ask, what is bitcoin if it is not cash?
Cash is liquid money, such as notes in your wallet. Bitcoin is definitely not that as it is digital. If by 'cash' you meant fiat, Bitcoin is definitely not that too as it is decentralized.
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I have never been a proponent of these trading strategies as they're never foolproof. There is a correlation between the Bitcoin, stock and altcoin market, and changes in one would likely affect changes in the other, but there is no definite way of predicting how the market would react and which coins would move up or down. There are thousands of altcoins, and buying one based on the narrative that it would rise cause Bitcoin is falling may not be a good idea.
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