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3601  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: August 23, 2020, 03:46:39 PM

Possible problem: If the sender knew when you exchanged the commitment transactions and he cooperates maliciously with your channel partner, however, he could try to instantly spend the output in another transaction hoping it gets confirmed first than your transaction. This would be however a relatively risky attack.
How so ? The sender does not have a key in the multisig.

There's a time lock added to commitment transactions of whatever the dev sets it at but its normally between 24 hours and 2 weeks depending on how active the node is - so this type of attack could be mitigated.
3602  Other / Beginners & Help / Re: newbie here some advice! thanks on: August 23, 2020, 03:06:25 AM
Yes the gas fee (limit) changes based on how busy the network is.

You're not trying to aquire more of the token per se, you're needing to gain eth in order to pay the gas. If you keep earning the token you currently can't use it to pay the fee afaik - I imagine this will be a development at some point.
3603  Other / Beginners & Help / Re: newbie here some advice! thanks on: August 23, 2020, 01:24:33 AM
Yeah I asked because fees are really high at the moment on the eth network and it doesn't seem possible to pay a low fee to get the transaction through.

I'd suggest you set a reminder and look at the fees or bump this topic in a month or two to see if the fees go down. I recently had to pay $9 for a termination of a smart contract.
3604  Other / Beginners & Help / Re: newbie here some advice! thanks on: August 23, 2020, 01:01:14 AM
Any chance you could tell us the address it's on.

If not check it on etherscan and tell us what they say it's worth. Eth transactions are expensive at the moment and there's also a chance it may not be the real token or different to what you think it is in its current state.
3605  Other / Beginners & Help / Re: WHy I can create a new topic with image on: August 22, 2020, 06:52:55 PM
Where have you tried it?. Could you not try it here?

All you need to do is put [. img] tags around it. Such as:


Code:
[img] https://bitcoin.org/img/home/bitcoin-img.svg?1596309280[/img] 
3606  Economy / Speculation / Re: Top 5 reasons I see $100k in next 2 years on: August 21, 2020, 07:49:11 PM
With already tens of thousands of Bitcoin tied up in DeFi and Bitcoin only just the past few months really becoming a popular collateral for DeFi, and if we say there's only 5-10 million Bitcoin that will touch the market during the run-up of the bull market, it's certainly possible that up to 10% of the available Bitcoin in the market could be tied up in DeFi in the next two years.
Fees are really high with defi and the more funds in it, the more lucrative it bnecomes to hack.
It looks like a lot of currencies are tryihng to roll out defi support so there's likely going to be one produced by someone with no idea what they're doing...

True bitcoin DEFI won't be possible until some sort of cross-chain compatibility occurs or the bitcoin chain is adapted to allow it directly. Also in order to earn interest with defi you have to have people happy to borrow it for that rate (rates have already dropped by half since I put funds in about half a year ago).

And I don't see a problem with companies securing Bitcoin assets. Bitcoin is inherently secure. Bitcoin is only not secure when it needs to be kept online in hot wallets, which is why exchanges have problems. A company putting a few percent of their cash reserves in Bitcoin for the long term would be holding all that off-line with extremely secure access. They won't be giving access to random employees.
Bitcoin isn't like a bank account, you can't just reroute where the funds go if the CEO disapears or something. Giving the CEO and directors acccess to a multisig is a way to go, but every time one leaves - you'll have to generate a new multisig address. You'd also have to put plans in place in case a tragedy hit one of the offices and a large number of workers suffered injuries great enough to make it so shareholders/new management can't access the funds.

Or they'll store it in some institutional custody service where they don't have to worry about it at all. Ability of companies to safely store Bitcoin is not a problem.

Same problem as before but potentially even more of a problem. You can probably expectg terms in that contract to say something along the lines of: "funds held by us may be lent to companies that we consider reputable" like most other places do and then if some funds get lost - what do you do about that? Especially if the company already nullifies its burden.
3607  Economy / Speculation / Re: Top 5 reasons I see $100k in next 2 years on: August 21, 2020, 06:53:02 PM
Defi and the companies using it as reserves imo is mostly speculation at this stage..

I dont think defi has been around long enough to assume it's secure and I don't know how well companies can do at securing assets in bitcoin. A couple of rogue employees could land them with nothing quite quickly.
3608  Other / Meta / Re: Plagiarism- reporting after ban & should all posts be purged. on: August 21, 2020, 02:02:55 PM
I thought first offence wasn't permaban also.
it'd be very hard to work out if you were the original user of the account for some or not so I think the stance from the glob mods was don't report posts of banned users (but it mightve changed).

I'd have to side with that option just in case any of the other posts were helpful with understanding a thread for example.
3609  Other / Meta / Re: Will this be sufficient proof? No, so? on: August 21, 2020, 11:07:15 AM
Yeah unless you can get an ubfabricatable fingerprint from something like the Web version it's probably impossible.

If it's a public channel it's probably a lot easier to prove but still not easy as you'd have to stipulate unedited posts and I don't know if channels mark edited posts as they do in personal messages.
3610  Other / Beginners & Help / Re: bitcoin pricing on: August 21, 2020, 02:25:41 AM
There are a couple of systems:

1. Dca - dollar cost averaging, set up a standing order, direct debit or direct deposit to buy funds every month.
2. Buying swings/spurradic moves - while there's little hype there are probably people buying the increase.
3. Technical analysis - look up stuff on Google and YouTube potentially. Some people suggest books but I fear they may be too advanced and overinform people (sometimes simple patterns are easier to trade and faster to learn).
3611  Bitcoin / Electrum / Re: Old Electrum Version on: August 21, 2020, 01:16:23 AM

Is the passphrase 10+ words that seem random?
Just not to be confused. Is it passphrase or seed phrase that you meant? Just asking, I don't know how old electrum wallet works.

I'm asking specific to the passphrase the op mentions to determine if it is the nmemonic or not. I think v1 was with a master private key and v2 had the nmemonic but I'm not sure when the exact crossover was.
3612  Bitcoin / Bitcoin Technical Support / Re: Paid with mBTC and not BTC - have I lost all my money? on: August 21, 2020, 01:11:45 AM
Solved it - thank you.

Just in case you come back could you suggest what you did to fix it to help others that come across this topic? It'll be helpful if someone has the same problem.

3613  Economy / Services / Re: Sell cryptocurrency signals on: August 21, 2020, 12:16:33 AM
Most marketers offer proof of their predictions or some sort of information?

Generally this could be done by sending out signals either on a thread or via social media channels to broadcast them to users. Have you thought about doing this? I don't know why someone would part with non reversible funds without seeing proof.
3614  Bitcoin / Bitcoin Technical Support / Re: btc sent to wrong address on: August 20, 2020, 10:59:00 PM
I don't know who'd remember that site but if you don't have a private key it looks like a faucet hub type site (which may itself be gone) then it's going to be quite unlikely your funds are recovered. This is one of the problems with bitcoin imo at its current state, there are no inheritance schemes in place.
3615  Bitcoin / Electrum / Re: Old Electrum Version on: August 20, 2020, 08:43:47 PM
Is the passphrase 10+ words that seem random? If so just try restoring a new wallet by hitting ctrl+n and following the steps of naming a wallet > standard wallet > I already have a seed > paste in seed > add any password you want and let it load - make sure you downloaded it from electrum.org too.

I don't remember 2.7.18 I don't think but I remember 2.7.2 (I think but it was a while ago). I'm using a wallet from 2.8.6 that still works.
3616  Bitcoin / Bitcoin Technical Support / Re: Paid with mBTC and not BTC - have I lost all my money? on: August 20, 2020, 06:40:19 PM
1 mbtc/millibtc is 1/1000 of a btc. I'd tell us if you used a service like bitpay but contact the vendor if it was a smaller or local service and ask if you can send the rest..

You'll just have to send 99x of what you previously sent in a transaction (or mice the point by 3).
3617  Economy / Service Announcements / Re: WALAHALA HARDWARE WALLET on: August 20, 2020, 12:29:33 PM
"no back doors" is a bold and impossible to prove. Every device is going to have some sort of problem, you have to transfer data to a device and from it to get a signature, anything along that gap can cause a problem.
3618  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: August 20, 2020, 10:28:01 AM
I think bitcoin too was made overly complicated for the average person
So is fiat money Wink
But none of that matters to the average person: you don't need to understand the complicated details to be able to use it.

The fractional reserve systems are confusing but its better than guineas, pounds, shillings, crowns, pennies....

And yeah I do agree if you have enough tutorials and enough confidence in the concensus then you'll be able to run stuff yourself. And an ln with Central companies isn't much different than what some companies have already tired or do (I think binance has its own token deposit system for currencies).
3619  Economy / Speculation / Re: Something unexpected needs to happen? on: August 20, 2020, 10:14:28 AM
For mass adoption to happen, countries need to welcome it or at least have a regulations. So far there are countries that are either in the grey area, or totally outright banning it. So it really might take some time for BTC to change what it is right now. And even though we have seen Wall Streets and institutional money flowing in, it's not enough. Online merchants should accept it as mode of payment, people using it as form or money and other factors.

Yeah I think the regulators in the UK were trying to give companies more freedom before regulation comes in - since companies have to hold 100% of investor funds now and segregate them from their own and this might be a costly thing for new companies.

But as this grows it'll be less of a problem.
3620  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: August 20, 2020, 10:07:01 AM
I think bitcoin too was made overly complicated for the average person - but I don't know what the average person wants. Most currency systems could do with a mixture of government banks and private holders imo.
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