I don't think this question can be awnsered easily. The price fluctuates a lot and so do expectations. You can't be to sure how btc will be going. 10k were unimaginable about 7 yers ago. But now we are here. The same might happen with the 50k mark. But BTC obviously also could fall extremely and people may be happy if it would rise to 1k again. For now.. i do not plan on selling my coins. I may do this when required. But for now there is no specific price for me at which i would sell all of my btc.
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BCH will never reach the status of ETH in the future. Not in the short- and also not in the long term. Ethereum is an innovative platform for decentralized apps and smart contracts performed 'on the blockchain'. BCH is just an altcoin, forked from BTC. And to be honestly.. a pretty bad altcoin. 8MB blocks aren't a solution to anything. Its just delaying the problem. The reason the price went up so much is that there is heavy price manipulation involved.
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Ledger nano s can save only 4 coins at the same time . if then one comes to it, you must first delete one on the nano
This statement leads to missunderstanding. You can't store coins on the nano. You store private keys. The fact that there is only space for 4 apps on the ledger just means you have to deinstall an app and install the necessary app. Your coins are always safe. Even when uninstalling an app from the nano s. Your coins still remain 'on the ledger'. Its just an additional step to get access to more than 4 coins simultaneously, which approximately takes about 15 secs.
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It's not a problem to keep thousands keys for every device. In my imaginary situation device doesn't generate random public and private key. It gives the next pair which Ledger company knows
You should stop "imagining" stuff and start to read stuff. The whole part which handles the key generation / initialization of the ledger is 1) made onboard and 2) is open source. You can chack github and read into the algorithm. There is no hardcoded list of compromised keys. Also there is no communication to any server during key generation and initialization of the ledger wallet.
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The difficulty in replacing the app on your pc with a malicious version itself is moderate. This would technically require 1) physical access to your pc or 2) admin privileges (which is doable, especially on windows). But this wouln't lead to a loss of your funds if you double check the addresses you type in. On your Nano S, Blue you have to confirm your payment address on the screen of the device. On the older versions (nano and HW..) you need to verify the payment via security card. This second layer protects you from this kind of attacks.
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what it does is, writes 0 and 1 to the usb, all over again and again., many times., so its impossible for some one to recover old data from usb.
With USB-sticks and SD-cards you can't be too sure. Flash memories are allocating their memory cells regarded parameters like health, .. of the individual memory cell. In some circumstances there would be the possibility of saving the priv key to a cell which won't be alloced later on when you are deleting and overwriting your usb stick. This could lead to parts of the private key still being accessible via forensic tool which are made for reading out memory cells specifically.
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Brain wallets are something a good idea. This is the most trustable wallets to use.
What do you mean with "most trustable wallets" to use? With brainwallet OP referes to wallets generated from a password which will be stored in your brain. So 1) there is noone you would have to "trust" as a 'walletprovider'. And 2) There are far better options for a wallet. With normal passwords you are cutting the search space for the priv key to ~1/20 compared with some RNG (considering enough entropy).
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A lot of countries aren't declaring bitcoin as illegal. Most of them didn't regulate BTC yet, but its not forbidden (yet). Bitcoin gets wider and wider adopted because people start realizing that they are able to send funds around the world and store them in their pocket with ease. And this without having to trust anyone with your money. As banks and governments are less and less stable a possible investement into a growing markt is seen as a solution. And if this market is bringing an additional value to their personal lifes.. than this will lead to wider adoption and appreciation of bitcoin.
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Accepted, rest all denied. We are now FULL. Thanks! Applied PM, Avatar and Sig.
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A fork is a "Y" shaped chain, and the true Bitcoin goes off on one of the tines, and the new "coin" goes off on the other. There is then a destructive contest as both try to become the true Bitcoin.
There is no "Y" shape. Thats just for abstraction. There is no one chain of blocks in the "past". Each node has its own copy of the whole blockchain. There isn't really a "contest" on which becomes the true bitcoin. Those forks only use bitcoins name to get "more established". Thats nothing more than a theft of the name. A coin can't "go off from another". Those forks just have the same block history as btc to a specific height. My idea of a parallel chain is to take the existing blockchain and duplicate it up to a certain height. You then run a modified version of core using that blockchain. There is no conflict or contest with the existing Bitcoin - it is a completely different entity at this point.
What you are describing here is a 'standard' fork. Every node has its own copy of the blockchain. After a certain height they run a modified version of the BTC code. At this point a new coin has been created by a fork and is "a completely different entity". Take BTG for example. Miner can't switch between the chains because BTG uses a different mining algorithm. The reason because miners switch between BTC and BCH is because BCH uses the same mining algorith. And since miners are looking for the best profit they jump between those chains to get maximum profit.
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A fork basically is a parallel chain. When you fork off from a coin (e.g. Bitcoin) you change the source code as you wish (change blocksize, block generation time, .. ). Then you make it public, try to get enough people who also 'believe' in your changes. You set a date (a specific Block#) from which on your chain will be live. From this time on you have a "parallel" chain (with all blocks until block X being the same as in the original chain). Im not sure what you exactly mean with "parallel chain" instead of forking. In this context its pretty much the same.
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Hello guys, i noticed BCH is going up rapidly again. I can't think of any reason why BCH should rise in price. I don't see how a few exchanges / wallet provider implementing BCH could lead to such a rise in price. This seems to me as there is another pump (followed by another dump) of BCH. I actually dont understand why people think BCH is better than BTC in any way. BCH has been forked for 8 MB blocks.. but still those blocks are ~100-200 KB big.. In addition to that BCH processes an amount of TX's which isn't even worth mentioning. So what do you guys think about Bit Shitcoin Cash? Another Pump and dump? Or some people really believe it solves any issue? How do you guys react? Do you jump on the train which is doomed to crash and try to get out before its too late? Or you just don't care at all? I'd like to hear your opinions!
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What should I do If My wallet or BTC gets hacked?
Thats the wrong question to ask. Once your wallet or your BTC get "hacked" its already too late. The question you should ask yourself (or us) is how you can avoid your wallet getting hacked (Wallets can be "hacked", BTC itself not). The key to this is to use the right wallet. First, if you have lot of btc's you should spend <100$ for a hardware wallet. With such a HW wallet your coins will stay safe, even if your PC is infected with malware. A HW wallet is pretty handy in everydays usage. If you only want to keep your coins without spending them in the next few years and are too greedy for a <100$ HW wallet, you could use a paper wallet. A paper wallet is basically just a private-/public keypair generated and printed completely offline in several copies, saved in different places. Once you want to spend your coins you can easily just import the private key into a wallet of your choice (Your PC will have to be free of malware for this not leading to a loss of your funds).
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so i downloaded and installed the BTG extensions for my Nano S, clicked on the BTG Split tool, choose Legacy (that where i held my BTC) and it says it is syncing for about a minute and then no BTG shows up in the wallet. All of the software is up to date as per the instructions. What am I missing or doing wrong??? Any input appreciated!
First: This is the wrong section of the forum. This should be posted into Alternative Clients. No regarding your problem: I do have the exact same problem. I have my coins stored on legacy addresses, but when im trying to split the BTG with the in-build BTG splitting tool, it just shows zero balance. I already tried a few things, but you may also try them.. they may work for you. 1) Reinstall BTC and BTG App on your Ledger 2) Reinstall BTC Wallet Chrome extension 3) Reinstall Ledger Manager Chrome extension 4) Make sure everything is up-to-date: - Ledger Wallet Chrome app: V1.9.10
- Nano S firmware v1.3.1
If all of that above didn't do the trick for you and it still shows zero balance when you click on the BTG splitting tool.. then your in the same situation as me. I already contacted the ledger support.. lets see what they will awnser.. I will definetly reply here as soon they reply to my support ticket.
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It may get confirmed eventually after some time because as it stays unconfirmed it is going to be prioritized, you can also try to rebroadcast the transaction again after being unsuccessfully confirmed the bitcoin will be returned to your wallet.
Transactions (with a small or zero fee) which stay unconfirmed for a longer time usually don't get priorized over transactions with a high fee. Every miner is free to chose which transactions he is going to confirm in his mined block. Its all about how the node is coded to fill the block with TX's. Since miners mine because they want to gain profit, they will always priorize transactions with a higher sat/B fee.
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Has anyone heard of a hack or attempted hack on Bitcoin
You have to be more precise with your question. Do you mean either 1) Bitcoin/Blockchain itself being hackable or 2) Anything related to BTC (including your stored btc) being hackable? 1) Bitcoin itself is not hackable in any way. BTC is "just a code" running on a lot of distributed computers around the world. There are no flaws and also no vulnerabilities which could be exploited. 2) Wallets, your pc (containing your coins), exchanges, websites (containing btc in any form) are always "hackable" (or to be more precise: they are vulnerable to exploits). You won't get 100% security in wallets, web applications, ... If you store BTC's right and use your common sense when transacting with bitcoins, you (and your btc's) won't get "hacked". I hope this clears things up. If i missunderstood you, feel free to awnser with a more precise question.
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Spamming the BTC network "forever" would need extremely high amounts of money which would have to be used just to disrupt the network. I can't imagine anyone had such a big interest in raising fees a few dollars, that he would spend those massive amounts of money. The last "spam attack" was initiated so that people thought BTC is no longer usable as currency. That basically was a marketing gag for Segwit2x, BCH, ... None of these block-increasing solutions will solve the problem in long term. Scalability is the keyword. We have to wait for a second layer solution (e.g. lightning network) to get rid of those high TX fees.
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In terms of price stability - Bitcoin is the sure winner
In fact ether's price is more stable than bitcoins. Bitcoin is one of the most volatile cryptocoins (considering only the top 3 listed on https://coinmarketcap.com/). You can't really compare bitcoin to ether(eum). Bitcoin is basically a currency or store of value (or even both). Ethereum on the other hand (ether is just the native currency of the ethereum platform) is neither used as a "real" currency, neither for a store of value. Ethereum is a platform for decentralised apps (DAPPS) which allow smart contracts to be coded and executed decentralized "all around the world". What bitcoin is for money, ethereum is for anything that can be coded. IMO both have a bright future, but they still aren't really comparable. But if your question was if ether is going to overtake BTC in terms of price, then the awnser is no.
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