Why don’t you run your personal server for electrum. That would be quite handy to keep your things private and secured.
Because I'm a dumbass and haven't learned how to do it and why it's important to do. You'd think I'd have learned more about the technical aspects of bitcoin by now, but nope. I pick up dribs and drabs as time goes on. I didn't even know what a GPU was until about a year ago. No 'real' knowledge required: raspiblitz https://github.com/rootzoll/raspiblitz has ElectRS as a 1 click install to setup your own electrum server mynode https://www.mynodebtc.com/ has one too RaspberryPi and a 1TB drive and your good. If you don't want to do that mynode has a virtual machine download so you can run it on your PC using VirtualBox if you want. Even if it does not work for you for what you want to do it's still a good learning experience. -Dave |
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You don't say how much you are cashing out.
The answer for $100 is going to be a much different answer then the answer for $10,000 and yet another answer for $1,000,000
Paxful is a good place to start IMO, but depending on the amount, and where you live, it might not work for you.
As far I know localbitcoins has KYC but does not report to anyone by default, but you should check that yourself.
-Dave
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Visited their exchange/website and found no info about the team behind it. Not even a single LinkedIn profile or just any photo that would represent the team. But regardless of how sketchy the exchange looks, you should still present any evidence you have.
What bothers me is that knowing this exchange does not have a visible team, why would you guys use it in the first place?
Surely there are far more popular and less risky centralized exchanges out there. Why use it?
Because it's well know and has been for years. It seems to have very few complaints compared to many other exchanges. Compared to other places it is not a bad place to trade. It is or at least was part of VIABTC And if you care to know about the people that run it: https://fintecbuzz.com/interview-with-co-founder-and-ceo-coinex-haipo-yang/-Dave |
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Which one is superior is a really vague question.
Which vehicle is superior a Lamborghini Aventador, a Kia Sorento or a Ford F 150 pickup truck.
If I want to go fast and look cool it's the Lamborghini, if I need to move a large pile of bricks and some lumber its the Ford. If I want to go on a road trip with 3 or 4 other people then it's the Kia.
Which BTC vs gold? For day trading? For long term investment? For stability?
I hold BTC and metals and other investments. They all have their use.
-Dave
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People usually care about things only when they are affected personally or when someone knocks on their door.
All movement in world today is to abolish all form of privacy and make everything into ''Big Brother'' reality when you are constantly recorded and tracked 24/7.
I don't think that majority of people wants this, even if they are bribed with free stuff along the way.
The other issue is people do not understand how or why many things work. So when someone comes along and offers them "privacy" they really do not know what they are getting and how it really works. Want a really secure encrypted device that can't be tracked because you are a criminal: https://www.pcmag.com/news/fbi-sold-criminals-fake-encrypted-phones-that-actually-copied-their-messages. How about just a phone that is secure that does not spy on you: https://www.dailydot.com/debug/freedom-phone-security-issues/Back to the discussion about BTC privacy. If you are doing a P2P trade F2F how are you sending your BTC to the other person. Electrum on a phone or laptop? Do you know what back end server you are connecting to and what it records? Unless you are running you own node you don't. Are you using Wi-Fi in a coffee shop? Are you 100% sure that there is no MITM attack going on? How much do you know about the person you are trading with? How good is their OPSec? I don't want to be that guy who says it can't be done, but I really think that it's a lot more complicated then a lot of people think. -Dave |
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@honglu69 I just saw your post in the NENG coin thread about the attack so no rush to work on this, I know you are busy.
I sent a small test dash deposit last night to the exchange that never got there, the address I sent to was: XdYtvTjrxYDiQ851fFdQzc387QtwHfp79j
As I said, when you have to take a look.
-Dave
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Double spend has been a problem since a long time now. There are scammers who trick newbies into sending them other coins while doing exchanges or services.
The only solution is proper education or using wallets that clearly shows you that the transaction is NOT CONFIRMED. Once the transaction is confirmed at least 1 time, there is nearly no chance for double-spend unless the scammer has paid a miner to confirm the transaction. Such things do happen, right?
I think Bitcoin should be used as an asset more than a transaction currency while there are alts for quicker and cheaper transactions.
Are there any wallets that do not show unconfirmed transactions as such? I know that some new users might not know what that means, but I have never seen a wallet not tell you that fact. But, if you look at the amount of stories you hear about people getting scammed with Zelle, Craigslist ads, Facebook marketplace scams, etc. I don't think it's going to make a difference to BTC adoption. -Dave |
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There is a difference between KYC and privacy, and between privacy and PRIVACY
As part of a signature campaign the address I get paid to is public.
It's in a post and on a pubic spreadsheet.
When I get paid I can either spend the BTC, at which point depending on where I spend them you can figure out where they went.
Or I can send them to an exchange, and since most exchanges wallets are known you can trace me as far as there.
But, you can't know if I traded the coins to another crypto, pulled them back out to another BTC address, or if available converted to fiat.
Depending on the exchange, they may know all about me, or have nothing more then an email address.
Obviously, if I am going to fiat they would know more then if I just put the coins in and took them out.
KYC, is an interesting thing, because people think KYC means that you have given up all sorts of info. And you probably have.
But, lets say I buy something on newwegg.com. They will know my shipping address. Or at least the address I shipped it to.
Depending on what I bought, there may or may not be other information leaked. i.e. I bought a cell phone, newegg knows the imei & serial number of the phone they sent to me. As would the cellular provider I use. So, there is a lot of trackability there. Same if I bought any Apple device, they all phone home and require your info to do just about anything.
Where does privacy end, is going to be different for everyone.
KYC, for the most part, depending on how deep you want to go, can be avoided here in the US.
There are states that allow for an anonymous LLC. 3 that I know of are Delaware, Nevada and New Mexico. I think there are more. Many, crypto to fiat platforms are fine with doing business with an anonymous LLC. So you can get it that way too.
Yes, no matter what the government can and will be able to hunt you down if needed. Anybody who thinks otherwise is just being deluded.
But from your fellow bitcoiners they will probably never be able to find you.
So with all that being said, how many users really care about privacy? The answer probably is, what kind of and how much privacy....
-Dave
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... online buying and selling transactions involving users who don't understand how it works may become victims of rogue shoppers...
If its online it's 100% not important. You don't ship the product till you have 3 (or 6) confirmations. Once you have that many, you don't have to worry about double spend. It's online so it's not like you have someone at the counter waiting for 3 blocks before you hand them their lunch. Same with payments. If someone is sending you BTC and expecting you to send them some form of fiat, they just have to wait for a few blocks to be mined. -Dave |
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Because we don't want to spend 2 hours explaining it to people?
Seriously, I can say "I bought 10 shares of Boeing" and people may ask why, with the pandemic going on and the 737Max issues.
And I can then say, "Well they are 99.999% going to get this new drone contract from the US government and it's going to be worth more then their entire commercial aircraft division" and at that point we can discuss the pros / cons and thoughts.
Saying, I bought 0.1BTC on coinbase this morning, leads to.
1) What is it about crypto that I like?
2) What are the tax implications?
3) What about regulation?
4) What about the lack of regulation?
5) What do you mean nobody controls it?
etc.
So you don't talk about it.
The other side is when new people get excited about it and you then have to explain all the things that you have explained to people a dozen times before, sometimes you just don't want to deal with it. So you don't talk about it. So you don't have to explain for the 100th time that buying 'Dave's left testicle coin' is not going to make them rich.
-Dave
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No,
1) Mostly because it's just about impossible to be done. Not saying it can't be done, just that it is just about impossible.
2) Even if it can be done, if you are accepting BTC or any crypto for any large item you really should wait for more then 1 bock before handing over the merch.
Once you are 3 blocks in the odds of a double spend happening are zero*.
*Or close enough to zero not to matter.
**We are talking about BTC, the real BTC. Not BSV, BCH, or any other crypto that claims to be BTC.
If you are talking about one of those, you are on your own when it comes to double spends.
=Dave
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...You shouldn't experiment on yourself with random chemicals because a stranger on the internet told you to.... Isn't that what we keep college students who use the darknet markets around for? On an interesting note, for those of you who have not been following the Epik hack: https://arstechnica.com/information-technology/2021/09/anonymous-leaks-gigabytes-of-data-from-epik-web-host-of-gab-and-parler/At least two of the sites that BADecker likes to post information from were using them. Have to download the torrent and parse the data see who is behind them. Or just wait for someone else to put it up in human readable form. -Dave |
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I don't think they'd integrate other remaining cryptocurrencies anytime soon, but regardless of that, does the above line mean that you personally prefer to pay for stuff with other cryptocurrencies, instead of BTCitcoin?
No, I prefer bitcoin but I do have a ton of Dash (mined) / ETC ( from the fork) / BCH & BSV (also from the forks) and many others that are really just sitting in wallets. I keep wanting to exchange them but it's always "I'll do it soon when, I have time to play with exchanges" Some has been spent through bitrefill, but the more places that I can spend them the sooner I can clean up old wallets. It's just me with the time and effort to be honest. Need an small Amazon GC, go to bitrefill send them Dash, done. But, I don't have enough of any of them to get a $500 gift card for hotels.com for a small vacation so it sits, but a $12.00 movie ticket and a $37.50 small popcorn and $9.00 box of snowcaps, that I do have. Yes I can exchange the them, but then it's go to an exchange that takes people from NY, go trade it, then withdraw and eat the fees. I would rather just overpay for my popcorn. -Dave |
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Also, as I keep saying, having a hardware wallet for a hot wallet that at most is going to have $50 is just time consuming and not worth it. I would never purchase a hardware wallet to store $50 in it if that amount is the first and last time I own Bitcoin. But if that's not the case, and you are planning to periodically increase that stash to say $100, $200, etc., it's well worth the money and the trouble. I think that if someone's first experience with Bitcoin is a positive one, that person would likely want more. Let's not forget that if Bitcoin reaches a valuation we all hope for, those initial $50 would be worth a lot more. Agree 100%, part of the issue with forums and my typing is I can put out a point and type it knowing what I am thinking but you don't. So the background is kind of missing. So yes, if you are going to keep adding to the wallet to have it grow from $50 then $90 then $175 etc, that is one thing. In MY view, that is NOT a hot wallet, that is a cold storage wallet. Or a 'warm' wallet. The 'hot wallet' say the one on my phone that my signature campaign pays into, even someone as paranoid as I am has no security on it beyond a password / fingerprint. The BTC comes in, 75% of BTC goes out just as quickly. That is what I think of as a hot wallet. If someone is just getting into BTC and wants to get some and spend it and then get some more and spend it, IMO going hardware is just going to frustrate them. I explain to them that it is just like cash in a regular wallet and if you do something stupid or careless with it, it's gone. I then can tell them there are MUCH better ways to do it for long term and even 'middle term' storage. THEN I can get into the hardware, multisig, and other options and determine what works best for them. -Dave |
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Using Bitman / Cannan as my 2 references with the newer miners with the built in power supplies.
75% or more of the weight is aluminum for the heatsinks and case. Which is totally and easily recyclable.
15% to 20% is the power supply and some steel which are also recyclable in just about any part of the world.
The rest? The circuit boards and chips and other stuff. Yes, it takes a bit more to recycle it, but it's done all over the world every day.
Just because it can be recycled doesn't mean that it would be. Recycling metal is quite a tedious task and many a times, it makes far more sense economically to just throw them to a landfill and mine for new material than trying to waste money and recycle them. E-waste is quite a prominent issue because parts of it are either hard to recycle or expensive to do so, due to the miscellaneous costs incurred in the process as well. Recycling doesn't really do all that much, it doesn't offset the environmental impact from mining it in the first place and incurs even more through the process of recycling it... The circuit boards are the hardest to recycle and may or may not be. The same with the power supply and the other small components. The aluminum is quick and simple. And on older miners makes up even more. For the old S9 miner I just took apart full weight: 152 ounces using a postage scale. Take off the fans, the controller, the fan guards, the other steel bits, 3 ribbon cables, screws and put them in one pile. Knock off all the heatsinks which are aluminum, and put them on top of the case which is also aluminum. 128 ounces. Gives me a bit over 84% that can be recycled anywhere. *The fans were not the ones that came with it, not sure about the fan guards so your numbers might be a bit different. Any MAJOR farm that can't sell their old equipment on the secondary market because the hardware no longer works is going to have some way to get rid of this stuff. Remember, there is a monetary value attached to it. Here in NY at the low end you get $0.50 a pound for aluminum, that is me waling in off the street. If I had more, like I pile all the broken miners from a large operation and strip them. I could probably get 10%+ more if I am bringing in 1000s of pounds. Now, on the individual scale, yes stuff might nor be recycled, but a commercial operation would never leave that money unclaimed. -Dave |
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Using Bitman / Cannan as my 2 references with the newer miners with the built in power supplies.
75% or more of the weight is aluminum for the heatsinks and case. Which is totally and easily recyclable.
15% to 20% is the power supply and some steel which are also recyclable in just about any part of the world.
The rest? The circuit boards and chips and other stuff. Yes, it takes a bit more to recycle it, but it's done all over the world every day.
-Dave
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@BitcoinLixin are the units being sold on Amazon from the new split off company or are they old Cobo units?
Kind of tough to tell from the wording on the page, they are shown as keystone but they are still listed under the cobo vault store.
-Dave
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Safety tip if you are building the nixie portion yourself by soldering the boards and such. Keep in mind the tubes use over 170V DC power. Although the high voltage power supply only requires 12V DC input, the output is 170V. Not enough to actually kill you but if you are not paying attention when working with them it can cause pain.
Don't as how I know :-)
-Dave
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Dave looks over at a pair of miners in his server room that are 3+ 4+ years old [1st batch of S9] so 1.29 years I don't think so.
Also, there are many e-waste recycling facilities so it's not like the miners are just scrapped. They can be, just like you can put your old PC in the garbage bin on trash day.
Or I don't know, sell it to people who want to play with old miners etc.
I am sure some do wind up as landfill, but not nearly all of them will.
-Dave
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