Thanks a lot, I fixed it, I was using a different derivation path which was not the Trezor's default one. Thanks a lot for your help.
Another thing i am unsure about is deriving my LTC private key for my Segwit addresses that start with M on my trezor.
m/49'/2'/0'/0 --> this one is for M Segwit LTC m/44'/2'/0'/0 ---> this one is for Legacy LTC
when I derive their private keys, they both come as Lxxxxxxxxx and it's not a match for the M addresses for Segwit in my trezor.
I'm totally lost in this one as I'm not even sure if its possible to derive private key for M segwit address and import it into LTC core
Thanks!
m/49'/2'/0'/0/0 is the Segwit LTC derivation path. Are you sure you're using the 49 Tab on Ian Coleman's tool?
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Is there a way to find the derivation path using my ETH address?
I told you before above: IIRC Trezor's derivation path for ETH is m/44'/60'/0'/0/
Trezor, Jaxx, Metamask, imtoken, and Exodus all use the same derivation path. the funny thing is that I can generate all the new addresses with their associated private keys using the BIP39, the same ones i see when i connect my Trezor on myetherwallet. What then is the problem? If you generate the same addresses that means you're using the right seed and path.
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Are you sure the seed is correct, that there are no misspellings? Are the words in the correct order? Are you using the correct derivation path? IIRC Trezor's derivation path for ETH is m/44'/60'/0'/0/i
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Use Ian Coleman's BIP39 tool: https://iancoleman.github.io/bip39/Remember to download the page and run it in a Tails live CD or an airgapped computer. Paste the BIP 32 root key in the field provided. Make sure you're using the correct derivation path.
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If smart contracts were eventually developed, would they be exclusive to Blockchain or could they use LNs? It seems to me that for store of value and Smart contracts the miners would be essential and irreplaceable at this time.
Bitcoin already has smart contracts, which is how the Lightning Network works With Hashed Time Lock Contracts (HTLC) Although it is not as fleshed out as on other altcoins like Ethereum, and seeing the fails of smart contracts on ETH, it's good idea to delegate smart contract to sidechains like Rootstock.
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I keep seeing things like "SegWit addresses are lower tx fees". Can someone explain why/how that is? For you to understand that you need to understand how bitcoin transactions and fees work. Bitcoin transactions are just inputs and outputs. Whenever you make a bitcoin transaction you reference old unspent outputs which form your inputs and create new outputs for the recepient to spend. Bitcoin transaction fees are denominated in satoshis per byte, which is the size of the transaction in bytes. In a transaction inputs make up most of the transaction: in a standard transaction with one input and 2 outputs inputs take up about 65% of the transaction, and in the input the signature takes up 60% of the space. So to recap so far in a bitcoin transaction we have inputs and outputs: inputs reference where the bitcoin is coming from, and outputs state where they're going to. Inputs have ~70% of a transaction, and signatures in inputs take up ~60% of the input. Signatures are only needed for validation yet they take up most of the space and you can't remove signatures because they are needed to prove said person has permission to move the bitcoin, but you can move them elsewhere, which is what segwit does. It moves the signature to "witness" portion which doesn't count in transaction size so the transaction size becomes smaller and thus the fees are smaller. Why does sending BTC to address A (old style) vs address B (SegWit style) incur higher tx fees? Sending TO a segwit (P2PWKH-P2SH or Bech32) address or a legacy address (P2PKH or P2SH) has nothing to do with transaction fees. Like I said above its the inputs that dictate the size of the transaction so no matter the type of address you're sending TO, it won't affect the size of the transaction and hence the fees. However sending "FROM" a segwit address incurs less fees because transactions are smaller.
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Does anyone know how long a ledger nano s last for before it no longer works?
The hardware was designed for a long shelf life, and it complies with the BIP 39/44 standards so you can always restore your crypto by using the seed words in any compatible BIP 39 wallet. So in essence, forever
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Thx. How is blocksize after Segwit? With Segwit there is no longer a concept of "block size" instead "block weight" is used instead. https://medium.com/@jimmysong/understanding-segwit-block-size-fd901b87c9d4 Isn't it good to enlarge the size for store more transaction data? Simply enlarging the block size doesn't work; it's just kicking the can down the road. And increasing it to absurd levels Isn't even practicalOr it is dynamically adjusted as that time's transaction amount? A dynamic block size -- a la Monero -- has its own drawbacks. Scaling blockchains while keeping it decentralised is really hard.
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This is the Bitcoin board so I'll be speaking about the Bitcoin blockchain....
The first and most evident "limitation' of blockchains is scalability. Public blockchains are very hard to scale especially on-chain. This is because of the way bitcoin achieves consensus; most nodes must verify a transaction (or block) is valid. If the block size is too high then a lot of nodes will be cut off and this leaves the power of the network in the hands of a few people which leads to centralisation. Also, if the block size is too low then obviously a lot of transactions won't be able to fit and this leads to high fees during high thoroughput periods as people will pay more for their transaction to be mined.
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Forgive me if i am wrong but the rules for this section of the forum state "No third-party sites/clients?"
Is LN not a third party client?
Should this discussion not be on the child board?
Not necessarily. LN works as a layer on the bitcoin blockchain -- like TCP/IP or HTTP so it's not a client per se and so it fits here. There have been suggestions for a board just for LN but Theymos hasn't done anything about it yet.
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Can someone confirm its true that if having has physical access to your computer, they can get your files no matter what? So bitlocker on it wouldn't prevent them? On another forum they said with bitlocker password, the thief would not be able to access it no matter what.
Bitlocker is a full risk encryption tool, similar to Veracrypt. It encrypts the drive and without the key it should be theoretically impossible for the encryption to be broken, but I wouldn't trust any Windows software not to have a backdoor. In theory, yes, it is safe, but 3-letter agencies could have a backdoor.
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Thanks. That was a very good article. However, I am not deeply skilled at the level of math or programming needed to know if there are differences between different DAG models (i.e. is there a difference and the same limitations between IOTA, Byteball, or Nano, for example). Any thoughts?
There are differences in the implementations. This article compares IOTA and Raiblocks (now Nano) https://medium.com/@peterryszkiewicz/iota-vs-raiblocks-413679bb4c3eAlthough they're all DAGs their consensus algorithms are different: Byteball is a "main chain" DAG, IOTA works with POW, and Raiblocks/Nano is a modified version of dPoS.
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Alright here is the first question. Since QuestionAuthority motivated us to create this thread, here is the first question guided by him. Question : What is bitcoin’s Mempool? What does it do, what is held there and where is it’s physical location on the network? May the best answer win, remember it is first come first serve.
The bitcoin mempool is where unconfirmed transactions are stored. It's a set of all the transactions that have been broadcast but have not yet been added to a block by a miner. Every node has its own transaction relay policy so there is no definite mempool, but different mempools for different nodes.
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If I understand correctly, you were overpaid: 2.3 BTC instead of 0.05BTC? If that is the case then you should try to contact the payer directly to return the excess amount.
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Fees are very low right now. CANT BELIVE I COULD SEND 1 BTC with 0.1 $ FEES Fees have nothing to do with the amount you're sending, rather with the size of your transaction. It's possible to have to pay more than you're sending if your inputs for the transaction are many.
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Do you have to register again for that? When I try to login with current credentials it says "invalid credentials"
Initially, you had to reset your password in this page[1] to be able to login. But looks like it's not working anymore and you will only get a "You have been banned from performing this action. Please contact an administrator." message when trying to do anything. Also, posts don't show up. The boards show up like they do on this forum but no posts show, everything is blank even though the post counter is correct.
The dev still has to migrate all the data from the old forum (this one) to the new software. That's why most boards are empty and you can't find a recent thread there. The beta forum isn't ready to be used anyway.
[1] https://beta.bitcointalk.org/recoverThank you. I really wish it was working and I could try it out. The UI looks much more better than this one.
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Do you have to register again for that? When I try to login with current credentials it says "invalid credentials" Also, posts don't show up. The boards show up like they do on this forum but no posts show, everything is blank even though the post counter is correct.
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] Actually it should be called as "Alerts" or something else than "notifications" because this forum isn't a social media. And there is a button which name "notify" on the top right of every topic to turn on your notification .You should try and see how it works first okay? Anyway it's a good ideal through.
Notify just sends an email whenever someone posts on the topic, whetehr they reply to you or not. It should be something refined like "Mentions" where you're notified only when someone either quotes you or mentions your name on a post.
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Is offline wallet safe?
Depends on what you mean by "offline" Offline usually means airgapped : that is, never connected to the internet at all, or in a different storage medium apart from digital media eg a paper. It's impossible to hack a piece of paper or for malware to infect it. A hardware wallet provides a combination of both: the chip where the private key is stored is never exposed to the internet or computer so it can't be compromised, and you're expected to physically write down the seed phrase on a piece of paper. You can't go wrong with that.
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