For added defense against the wrench attack, you simply create multiple different wallets with one address each... hand over the passphrase to the "exposed" 5 BTC and your dummy wallet.
That can be done with my method.
The bonus is that with a hardware wallet there is exactly ZERO evidence that these multiple wallets even exist... whereas, with your system of 20 different encrypted private keys and an attacker has hacked your email or found your USB/CD with the encrypted files... they can actually see all the different encrypted items in your inbox or on your CD etc. So, I'm not quite sure how you deny the existence of other keys/addresses?
If I encrypt 1 address, then encrypt another 1 separately, and store them both separately, will you be able to find the evidence of my other address if you are able to hack into one of them? You can't. But you just don't see this.
If the hacker can hack into my email and then hack my encrypted files, then there is nothing stopping them from hack every other people's, including your hardware wallet. Like I said, your argument is not objective. You keep assuming my method is a handicap and limited.
Let me say this to you: Encrypting a paper wallet = encrypting a hardware wallet's recovery seeds/mnemonics/passphrases.If only you can see this obvious truth... Unless you say, "Well, there is no need to secure my recovery seeds/mnemonics/passphrases because I have 100% fail-safe brain memory." In that case, I admit defeat. Edit: Or maybe I should be as specific as possible... just in case. Digitally-encrypting or digitally-securing a paper wallet = digitally-encrypting or digitally-securing a hardware wallet's recovery seeds/mnemonics/passphrases.The only difference with the former method is that I am 100% in control, don't need to do extra steps in securing/recovering the keys (like using a source code to derive the keys from the seeds), can customize the security to be as hardcore as I prefer, can do infinite backups, and don't need to spend more on any 3rd-party hardware. Edit: And please stop talking about dummy wallets. In the future (or today?) hackers will know you will have a false seed standing by to trick them to a dummy wallet. They will do far more than just accepting your dummy wallet. Above it all, refer to Matthew 6:19-21. The Bible is right. Paper wallets are hands down the best method of storing Bitcoin, it really surprises me that so called "experts" do not mention and promote them more considering how much theft and hacking goes on in this industry. If everyone were to use paper wallets, I am convinced hackers would stop targeting these poor noobs as much given how easy it is these days. They just make a fake URL, use SEO to get a high rank and boom you make like $200,000 in a few days (I actually saw this happen right here on this forum). The first thing all noobs should learn is how to make a paper wallet. It is so simple. Go to a site, generate your keys, write/print them, laminate or whatever, and then send Bitcoin to them and you can recover them on sites like Blockchain.info. There are just a few steps and the best part is it is like paper money which makes it easy for noobs to truly understand. This is opposed to hardware/software wallets which are a nightmare to setup for beginners. |
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So long MultiBit. I used you with confidence in your security and you never let me down. It was fun while it lasted.  |
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Technically, you can never get all the addresses given that many addresses are not known on the network (think paper wallets). Until an address has done a transaction on the network or a key is published online it is not possible to know the balance of that address.
For example, no one knows Satoshi's addresses, but they are rumored to contain upwards of 1,000,000 Bitcoins.
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What are the good sources of finding about upcoming ICOs? I currently follow: 1. ICOCountdown 2. ICOAlert 3. Dapps.Ethercast.com What are other sources for finding some more good ones? I've made investments into 2 ICO's till now (Waves and QRL) and eyeing 2 more (Gitcoin and UmbrellaCoin- https://www.umbrellacoin.org/). Overall I am enjoying to see the potential disruption being caused by the few good ones in the sea of scams. What about DeepONION Coin? This one has lots of potential. It is one of the most popular ICOs to date. There are over 300 pages on the ANN thread and a huge airdrop. I suggest to check it out... it is going to be huge. |
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https://www.coindesk.com/200-million-60-minutes-filecoin-ico-rockets-record-amid-tech-issues/ Update on filecoin. The biggest ICO ever! I started to listen about it by Cedric Dahl oh his youtube channel. It could be one of the future leader in the crypto mcap ranking. here is a good point of view about the ico and the potential and risk of this coin. Now we have just to wait it on exchanges to see if it will drop a bit under the ico price as other big ICO have done  Can you give a brief explanation of what Filecoin is? What is the purpose? Of course I could research it, but for the sake of the other readers of this thread. Most ICO end up getting dumped... what is different about this one? |
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Why so many altcoins use the Ethereum Technology?
They aren't altcoins. They are called tokens. And they are used by business to raise money essentially for their business/idea/project in the form of Initial Coin Offering, also known as "ICO". It is the basis of the Ethereum platform... anyone can create a token and sell it to people who are interested. |
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I did not get any BCC because I was too late.
It is my biggest regret in cryptocurrency, except maybe leaving my coinc on Cryptsy and BTC-e.
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My candid response would be what the fuck are you trying to say in English? Well, I'm much more financially sound thanks to bitcoins. No other altcoin that I own has done as well as bitcoins but we'll see what the future holds. When did you take this picture of me? Lol. LMAO This post is hilarious!!! Only I don't have a gf, but this is me every morning and night checking the Bitcoin price. xD |
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Hi, I recently started to invest some amount in altcoins along with my existing Bitcoin investments and the very first thing I realised that tracking the multiple investments was the problem as I rarely buy more than one alt-coin from the single exchange.
I recently came across this portfolio management site and I am impressed with it. How many of you are already using Cryptocompare for tracking your investment portfolio?
They have some additional interesting features like (maintaining sales, risk analysis, advanced chart, accounting etc) and they are going to turn it into paid subscriptions in the coming period.
I am mainly looking to track my long term cold storage investments so I don't think I would need those features as of now or at least in next 2-3 years.
Do you know any better alternative? Please let me know.
Given that I only have a few coins at the moment, it is quite easy to track them. However, if I buy more going forward then I will consider using a service to track them more easily. |
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I have regrets but not because I had heard about btc back in 2009 or 2010 but because of not having heard about it then. If I had even a little knowledge that something like bitcoin existed at that time I would certainly have got involved into it and by now I'd be a millionaire because at that time it wasn't this hard to get bitcoins as it is now. And when I say I might have got involved with it I mean it because even when I became part of bitcoin ecosystem It didn't take me long to convince myself that this is something I had to be part of. So I have regrets but still I'm happy and positive about making it big with bitcoin even now.
You aren't the only one. I think everyone has regrets about not buying Bitcoin when it was so cheap. I first learned about when it was just $15 and now it is $3,000+ so I lost an opportunity for 200x my net worth...  Oh well, live and learn. |
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Having faith in bitcoin for long term is good thing but $100K is uncertain goal. Bitcoin is rising for sure but it will take big halts at anytime. Moreover it might take big dips due to investors who are fluctuating the market really. Have you seen the future? No! There could be more hard forms like this in next ten years and it could ve possibility that bitcoin may not survive so many strikes and forking. It's better invest lightly and strategically. It's good to know you got passion for bitcoin.
Hey man, I first want to say that is a cool username! The only way to get to $100,000 is when huge investors come on board - as you quite rightly said. Right now the market cap of Bitcoin is not even higher than some individual Humans' net worths. Think about that. When it becomes $1,000,000,000,000 (trillion) then no single person/company will be able to affect the price that much. This is when we will get price stabilization and the masses will join on board. |
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Big blocks are only a very temporary solution to this problem... we need a long-term solution, what don't some people get about that?!  |
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People can use the lightning network to open a one time only fee channel from their personal wallet to their exchange (bank). Then funds can be sent to their exchange (bank) as needed and sent to other exchanges with minimal fees. It could work so well! Most people are already using exchanges anyway.
I do wonder if a reduction in fees would cause a reduction in mining with the reduced profits from mining and would that reduce the security of the network?
Going forward, Bitcoin will need to use the Lightning Network for small transactions such as these. Realistically, people are not looking to scam for such small amount, so double-spend is not really an issue compared to large transactions which can take longer and require security. Your average restaurant or grocery store isn't going to get double-spend very often and even so look at people who use counterfeit money or whatnot... it is the same thing. |
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A bitcoin Newbie with the Username of "Naganua" on bitcointalk has reportedly lost his hard earned bitcoins to a youtube user who scams newbie`s with scam tutorials on youtube and then deceives them by getting their backup phrase and for them to release their bitcoins unknowingly . Continue Reading=> https://zycrypto.com/bitcoin-user-looses-bitcoin-youtube-video-tutorial/I read about this guy losing his Bitcoins yesterday. It is sad there are scammers in this world who want to steal our hard-earned money (or try, at least). I already got scammed on this forum, but thankfully only once for just $20. |
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This symbol is the symbol of Bitcoin: BTC It is the exact same thing as a dollar sign ($) or other currency symbols, only it's for Bitcoin.  |
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What I like best about Bitcoin is the fact anyone can buy it around the world and send money so fast with low fees whereas other methods take far longer and outrageous fees.
I like how it can be divided by so many decimal places to allow very precise and easy transactions.
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Bitcoin is healthy, alive and well... better than ever before.
The price crossed $3,000 for the first time a couple days ago so I think no one can say otherwise...
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Bitcoin Cash is a temporary crapcoin/scam created by a small segment of the community who is trying to control others and will not succeed.
Everyone knows who thing king is - and it is Bitcoin. And Bitcoin will stay king.
It is only a matter of time until Bitcoin Cash fades away. It might be months, a year or 5 years, but it will die eventually.
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Nope.
Bitcoin is not worse than gold, or better. It is the same. The virtual equivalent of gold... there is only a certain amount available and it becomes harder and harder to mine as more are created.
This is exactly how Gold works in the physical world.
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I can't believe no one else mentioned this, so I will. Altcoins became famous because of Ethereum platform!!!
With Ethereum, anyone can make a token which is similar to an altcoin and provide a service with it and sell it.
The reason there are so many ICOs now because many companies are creating tokens to sell to the public as shares in their company.
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