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I guess you're missing some of the basic concepts of bitcoin.
A paper wallet holds your private key, preferably in an encrypted manner. It also shows the address that corresponds to this private key, altough theoretically, the (encrypted) private key would suffice, since you could (potentially) calculate the public key and the address based on the private key.
If you create a transaction with outputs to the address on your paper wallet (and the transaction makes it into a block) (basically, you're sending funds to your paper wallet), everybody running a core client or node will have the transaction with outputs to the address on your paper wallet into his own, database (it's in the blocks that are physically stored onto their disk).
It's a decentralised database, hundreds of people have the database containing all confirmed transactions ever made onto their own harddisk. They don't only store their own transactions, but they store everybody's transactions...
Afterwards, you can import the private key into any wallet you want, the wallet will have to download all the blocks (unless it's an SPV wallet, or an online wallet, since those wallets rely on blocks downloaded by a central node), including the blocks containing the transaction with outputs to the address on your paper wallet. Afterwards, you can create a transaction with these inputs.
It does not matter if you create a paper wallet today, receive inputs for 2 years, and only after two years import the private key into a wallet... As soon as you import it, the wallet will scan the blockchain, and find all past transactions, and you'll be able to generate a transaction using these unspent inputs, eventough the private key was not imported into a synced wallet at the time the transactions providing the inputs were generated.
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I just made a test account on blockchain.info and tried to send a simple getinfo request using their json-rpc api:
./bitcoin-cli -rpcconnect=rpc.blockchain.info -rpcport=443 -rpcuser=[my identifier] -rpcpassword=[my password] getinfo
The message i got:
error: couldn't connect to server
If such a simple request, using the standard bitcoin-cli doesn't work, i seriously doubt there's something wrong with your script... I can only assume there is a problem with their api.
(BTW, got the same message when switching the port to 80, apparently -rpcssl is no longer supported)
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If you're really new to mining I'd suggest picking up a cloud mining contract before fulling investing in hardware. They're on average 1$/GH more expensive but once you take into account electricity prices and such it's pretty much negligible. The current mining scene isn't what it used to be, not everyone can pick up hardware and expect money to start trickling in. It's way harder to break even now.
About 99% of the cloudmining companys turn out to be ponzis or plain scams. For the few real ones, it seems pretty difficult for their investors to make a profi. |
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Nothing strange... Just pure luck and averages... The network diff is adjusted every 2016 blocks, so that with the current network hashrate, about 6 blocks should be found per hour on average. It is possible that one hour, 7,8, or in this case 16 (altough i cannot load the image) blocks are found... IF the time between blocks was less than 10 minutes on average for 2016 blocks, the diff would rise... It's all odds and averages tough. It is possible there was a jump in hashrate, but in this case, the diff will be adjusted in a maximum of 2016 blocks, so everything returns to normal. It is also possible this was just coincidence. It IS possible to find 10 blocks in one hour using your CPU, altough the chance is really, really, really, really, really small. |
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lets say i have created a new cryptocurrency with full pos mining, there are many people around the world download the wallet and runing it everyday and everything seems normall, but suddently no one running it again except my laptop and my desktop pc, my question is , is it possible that my cryptocurrency still run normally and though it is running by just two computer that always on???
Sure... Why wouldn't it work? IIRC, you need two nodes if you want to mine, but if you're not mining (so new blocks aren't added to the blockchain, transactions aren't added to blocks, no confirmations), i think you can even have 1 node, and your ALT would still exist. bTW: i guess you'll need to move this topic to the altcoin subforum, since it's not really talking about BTC? |
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to find your tx id, open your electrum wallet, go to the history tab (usually the default tab), find the transaction, right click it, details => the transaction id is at the top of the details window.
Personally, i've only used the mixer in my signature in the past, but there are several mixers that are trusted by the community.
About the letter of guarantee, most mixers let you download a letter signed using one of their addresses stating that they promise to mix all coins you send to address x and send the amount minus the fee to your address y.
Such a letter is the only proof that you've actually sent your coins to the correct deposit address...
Like i've said before: it's up to you if you want to publish the transaction, address and (if you have it) the letter of guarantee, because the privacy of the transaction and associated addresses will be gone if you do (but we won't be able to verify anything if you don't publish them)
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Hi everybody,
I am new to this forum and to BTC.
I recently downloaded Electrum cause I heard a lot of good stuff about it.
Now I did my first transaction. I tried to thumble my BTC thru Helix, The BTC left my Electrum wallet, but never showed up in my other wallet.
If I check the details of the transaction it says 446 confirmations, and counting.
Can anybody help me in what to do, or what is going on with my bitcoins?
Here are the details:
amount sent: 200.mBTC
Size: 374 bytes
Fee: 0.1872 mBTC
Thanks in advance!
It might be easyer if you posted the tx id and the letter of guarantee (at least, i hope helix has a letter of guarantee). Do realise that posting the tx id and the letter of guarantee will un-anonimize you, so if you wanted to break the bond between two of your wallets, you might have to repeat the process. BTW: i hope you already contacted helix support? I've never used helix myself, so i hope they're not a scam mixer. |
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Hi there,
I'm newbie and I want to learn about bitcoin mining and I want to earn bitoin.
I want something stable way to make money. I have ability to invest $500 and I want to earn $5-10 a day,
Is that really possible?
Thanks In Advance.
$500 isn't a lot, but it might buy you a second hand antminer S7, with PSU and shipping (probably not the customs charges)... If you're lucky. How much profit you'll make with a second hand S7 depends on your electricity rate tough. If you have free electricity: http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860&p=1210&pc=0.0&pf=1&d=336899932795.80800000&r=12.50000000&er=898.46000000&hc=500At current diff, BTC price and block reward, you'll make about $100/month... The diff does rise tough, the block reward will halve in a couple of years and the price fluctuates. So you'll probably end up making less and less each ~two weeks (after the diff adjustment, 2016 blocks to be precise) Now, if you'd pay 5 cent/Kwu for your electricity (which is considered to be really, really, really, cheap): http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860.00&p=1210.00&pc=0.05&pf=1.00&d=336899932795.80800000&r=12.50000000&er=898.46000000&hc=500.00Your profit went down to ~$50/month with the current parameters, and it'll probably drop over time. At 20 cents/kwu (a bitter reality in a lot of european countries): http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860.00&p=1210.00&pc=0.20&pf=1.00&d=336899932795.80800000&r=12.50000000&er=898.46000000&hc=500.00You'll lose about $80 each month you'll leave the S7 running... You'll lose even more as time passes. In short: a bitcoin miner is not a magic money printing machine... In order to make money, you'll need: A) sufficient technical knowledge to set everything up, and keep it running smoothly B) a really, really, really low power rate... Preferably under 5 cents/kwu, altough higher rates might still leave room for profit C) really good negotiating skills in order to get your ASICs at the best price possible D) a cooled room with good electrical wiring and shelves away from your house (noise and fire hazard) E) luck (both in finding blocks and not having faulty miners) F) time to calculate and make risk analysis... Is it best to buy new ASICs, or do you want second hand ones... Are your power breakers/cables sufficient... How much heat will be produced,... G) some starting capital |
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Salve a tutti mi presento ,sono nuovo nel campo del Bitcoin ,avrei intenzione di generare bitcoin ,avrei intenzione di cominciare a creare un pc,e mi ponevo una domanda:
Il software che sto usando č MinerGate che si installa su ubuntu e da come ho capito ha bisogno della connessione a internet,per ora non č un problema,ma esistono software che fanno mining senza connessione a internet?
2)Per ora il mio PC usa la CPU per il mining ,naturalmente mi serve una scheda video,quale mi consigliate,inoltre da come ho capito quello che contač solo la GPU ,quindi potrei avere anche un processore VEcchissimo ma con una scheda video buona
Please move this topic to the italian??? subforum... All posts outside the local subfora should be in English. https://bitcointalk.org/index.php?topic=703657.0Rule number 9 |
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Hi, We have plans to use bitcoin as an online payment system for international trade. I have been looking for the security concerns on using this payment system. I came across a video blog about the threat of botnets. http://www.storagepipe.com/blog/DDoS-Bitcoin-Brute-Force-Malware/ So, in such an event, what protection would help me? Will an ordinary antivirus protection prevent such attacks? Please share your suggestions about it. Also share your opinion about using bitcoin for trade. Thanks in advance. You're missing something here... This article was TL;DR, but when searching for the word bitcoin, this was the only paragraph i found: Cryptocurrency botnets are the newest and potentially most profitable class of malware. These viruses use the victim’s processing power to mine for Bitcoin and other cryptocurrencies
Sure, a hacker group can make a botnet, and they can use it to mine BTC... But their complete botnet will probably have a lower hashrate than a single S9, and as long as you're not part of the botnet, this should not concern you... If you're serious about accepting BTC as an online payment system, there are different questions you should ask: * if you want to do everything yourself, you should be asking how to program everything securily * if you don't want to do everything yourself, you should be focussing on bitcoin payment processors (which ones have API's, legal statusses, security flaws,...) Offcourse, getting your PC infected is bad, and you can have your bitcoin stolen, but this has nothing to do with a commercial setup of a payment gateway, it doesn't matter if your PC gets hacked and your personal bitcoins get stolen if your main concern is to setup a payment gateway.... Personal security and corporate setup are two completely different things, and i think you're mixing them up. As for the DDOS'in part of the article: sure, if you make a service, it can be DDOS'ed, this has nothing to do with your PC's security... Even if you run a professional service from your PC (not a good idear by the way), a virusscanner will not be able to help you. Every online service can be DDOS'ed, the only way to really solve this is buying hardware sollutions or load balancing implementations from professionals specialising in this matter. |
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The current block size is 1Mb, so theoretically, the blockchain size could potentially grow up to 144Mb/day. The reason why the graph looks like it's growing exponentially is because in the past, the blocks weren't filled completely. If the block size would be increased to, let's say, 2 Mb, The graph would indicate that the size could theoretically grow 288Mb/day, but with a fixed blocksize, it would never grow exponentially. This size increase used to be a big discussion topic, altough nowadays, it seems like it's cooled down a bit. There are also initiatives like the lightning network to reduce the pressure created by the fact that the blocks are full most of the time and lots of transactions remain unconfirmed in the mempool. It is possible the blockchain will become to big for a standard Hard disk, but don't forget, the size of the available harddisk also increases as time goes on... So, in all probability, there won't be a problem  At the moment, the size is ~100Gb, if the blocksize remains the same and all blocks are filled from now on, we can expect a blockchain size of ~625Gb in 10 Years... Current desktop PC's either have smaller SSD's, or larger but slower SATA disks... In my country, it seems like the SATA disk size of most new PC's is already 1 or 2 Tb, so this disk should be sufficient even in 10 years. |
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I am using coinbase beginning of the time when i joined Bitcoin industry.I can't face any problem or any critical issue about coinbase.But I am highly worried reading some post that coinbase banned user accounts without any issue.I have now 400+$ in my coinbase account.What will I do now? which one wallet is safe and secure.
Need advice, suggestion.
Pick a decent desktop wallet and move your funds away from the online wallets you use. I personally like electrum, multibit HD and core. Electrum and multibit are SPV wallets, so they only download the headers. This makes them fast to sync. Core will need to download the full blockchain, but in return you're actually helping the network by verifying everything yourself The downside is that core will take up ~100Gb of diskspace (unless you start it with the pruning option turned on), and it might take days to sync initially. BTW: if you use a desktop wallet, make sure your PC is 100% clean, make sure you pick strong passwords and make sure you make sufficient backups!!! (electrum + multibit HD => Seed words/ core => wallet.dat... Since the latest versions of core are also HD, one backup will suffice) |
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examplens is right IMHO. I'm currently developing a faucet, but i didn't add anything "special".
Personally, i feel a faucet is used by surfers who just want to claim free BTC (but didn't make a calculation about how much they'll gain per hour of "working")... Usually, they don't care about anything else but getting free BTC. So everything that makes it harder for them to do this, will make a faucet less interesting, everything that makes it easyer to receive free BTC will make it more interesting.
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Thanks! This information was really helpful. It seems like with the fluctuations, transaction fees, and also the amount limits and verification measures, it might be easier and more cost effective to go with a tumbler that charges 1% fee. Do you know of any reputable ones? In the past I've used helix, but their fee's are high (2.5%).
I've used the one in my signature a couple of times, IIRC, their fee started at 0.5% + 0.0005 BTC. There are a couple other trusted ones around to, but i've never used them. The fact that i've used them without a hitch does not mean i completely trust them, nor that i'm completely vouching for them... It just means i've used them and got my coins back with a good taint analysis. |
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This is more along the lines of what I was thinking, but coinbase doesn't want you sending the coins to another exchange either. This is why I was thinking: Buy the bitcoin on coinbase, transfer to another wallet, then transfer to another exchange and swap the bitcoin for altcoin, then back to bitcoin. The issue that I have here is that I don't have any experience with other cryptocurrencies.
Long time since i last traded BTC to ALT on exchanges, but does the exchange use the inputs they got on your deposit address to generate outputs to your withdrawal address (the answer is no IIRC)? If not, there is no need to exchange the BTC to an ALT, the ALT to BTC and then withdraw the BTC from this exchange... It would be exactly the same as depositing BTC and than a couple hours later withdraw the BTC again... You still have: - transaction fees
- deposit fees
- withdrawal fees
If you really want to break the bond completely, you should Buy on coinbase => transfer to a desktop wallet => deposit to exchange A => trade BTC to an anonymous-centered ALT => withdraw this ALT from exchange A to the deposit address for this alt on exchange B => on exchange B trade the ALT back to BTC => withdraw the BTC to a second desktop wallet => send the BTC to LBC If you have criminal intention, you should even do this over TOR/proxy/VPN, even a different method for each step And some mixers actually have way less fees than the 2.5% you mentioned, so it might be a lot easyer for you to just use a trusted, cheaper, mixer, and just give 1% service fee + a transaction fee... |
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Ah sweet it may not be beneficial to mine personally but you've definitely helped me broaden my understanding and these calculators are top Notch Thank you i shall stick to investing for now. Zx
Be carefull when investing!!! There are a lot of scams/ponzi's out there. Never invest in sites promising "doubling" your BTC or receiving "x% profit a day"... Also, be very carefull when investing in cloud mining (99% of those are scams to) |
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Blast I didn't know that; so unless you spend thousands to get state of the art with ASIC it's still a lost cause because of energy rates, what does HW stand for as well please.
That's correct, it's a petty but that's the reality... I had to stop mining myself (also on EU power rates). Btw: even if you invest in latest generation ASICs, you still need a very good power rate... Personally, i think that if you pay over 5-6 cents/Kwu, the risk becomes to large even with the most efficient ASIC. Maybe, if you're a risktaker, you might be able to go up to 8-9 cents, but most EU domestic power rates make it impossible to mine with profit (you might still mine to support the network, or you might mine if you want to use the ASIC's heat to heat up your house, otherwise it's more or less a lost cause) HW = hardware You can do the calculations yourself if you want... Pick an ASIC here: https://en.bitcoin.it/wiki/Mining_hardware_comparisonAnd compare it to the non specialised hardware speeds and power consumption: https://en.bitcoin.it/wiki/Non-specialized_hardware_comparisonYou can write down the hashrate and look up the power draw to achieve this hashrate, look up your energy rate and see how much the ASIC/non specialised HW costs (don't forget custom charges and shipping and handling)... plug everything in a tool like this one: http://www.coinwarz.com/calculators/bitcoin-mining-calculatorAnd you can see how much this piece of HW would earn you, at current diff, price and block reward (each one of these things will change over time, so your earnings will probably go down) |
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Hello Everyone! Today i am curious as to how people feel about mining bitcoin in two settings; 1. as A render farm with many pc's in a room all working. 2. with one home gaming computer running. what cost's and profits would one expect with these two different set up's. both 1 and 2 are obsolete... Mining bitcoin with a PC will result in negative profit. Years ago, companies started making ASIC's, you can only make a profit if you have the lastest generation ASIC AND a very low energy rate. Mining Altcoins with a gaming pc with a decent GPU might still be possible tough... Don't know how the profit scales when professionalising (1 GPU vs a GPU farm). I expect this to also be dependant on the HW cost and the energy rate |
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Ive got a 4 metre x 4 metre garage that is empty, located away from my house. not exactly sure on my electricity rate, but i can find it out (shouldnt be too expensive). Budget does include all that, and I finish college this year, and im not going to university so will have plenty of time on my hands. no current experience but am keen to learn before i start. the garage is cool all year round
Without an electricity rate, it's impossible to tell you if you have a chance of making some money... Personally, i'd suggest you to find your electricity rate, make sure the cabling to the garage can handle the power draw (aswell as the power breakers). 20 S7's will consume 20x1210Watt + a switch + lighting + some fans... I guess around 25 KiloWatt power draw would be a reasonable assumption. This means that a normal household circuit might not suffice. Also, you might no longer be able to get the residential rate, since 25 Kw * 24 hours * 365 days = 219.000 Kwu per year... In comparison, i use about 6.000 Kwu/year for the complete electricity consumtion of my house (me, my wife, my kid, electrical water heater, additional electrical heating of some rooms, wife at home 5 days a week). For example, a 20A breaker on a normal household circuit seems to allow about 4,6 Kw draw (i'm not an electrician, i found this number online). Also, this means that the heat produced in the shed will be about the same as 12-13 2Kw electrical heaters... Natural cooling might not suffice. Before you attempt to do anything, i would also suggest to buy a couple old S1-S3-S5's and see if you can get everything setup and keep everything running for a couple of days. |
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