Hi, have you ever thought this? You know that, to import a wallet you need the private key or your seed. Taking as example the private key (the 52 letters key). It could exist the possibility someone create a software whose function was to try thousands of times to find the private key till it is be done.This would be like the process to find the new block in mining, anyway you can try the times you want in order to find it. I think this could be a weakness, correct me if I am wrong.  Or comment if you have a kind of solution for this... Regards! The chances of collision is extremely small. Like way too small to even try it. The resources they would be spending would be tremendous and the cost would not be worth spending. Even the chances of cracking empty wallet is very high, so no one even tries to do that. Even if was actually possible, we would regularly be hearing about this and crypto currencies would not have succeeded. |
|
|
|
Why are institutions jumping for joy at Coinbase Custody and other custodial services? The whole point of Bitcoin is that you OWN your private keys. Why would you want your private keys with someone else? Anything Coinbase can do, you can do. You can make your own multi-sig wallet, constantly track your balance with a Master Pub-Key, and be rest assured that your cold storage isn't touched by work-starved account managers tempted to steal your cryptocurrency.
Honestly, what am I missing out on?
Many people who are not technology freak finds it tedious to take care of their own coins. They find too geeky to maintain their own wallet. Thus different companies and institutions out there are taking advantage of such people and providing them those services. People start to trust them with their coin not knowing the risks just to keep themselves away from maintaining their own coins. |
|
|
|
|
Wouldn't be a good idea to invest around $10,000 on just two coins. Better to spread your investment on more coins that are popular. This way you will be spreading out your risks, thus reducing the chances of suffering huge losses.
I would recommend you to invest on XRP though. Would be way better to choose Stellar over ripple.
|
|
|
|
That approach isn't investing per se, it could best be described as gambling. For an investor, it isn't as difficult to put down a few bucks and go your way for a while. If this is investment in the first place, one wouldn't be checking every minute for profits.
You can't compare bitcoin investment with gambling. They are no way the same. Yes, both of them to include risks but luck plays a huge factor on gambling, where as reality plays more role in investing. Again, the risk can be controlled and minimized when investing, but you can't control the risk when gambling. You either get something or lose everything. |
|
|
|
|
Luck plays a huge role here. There are actually sites who boasts that players win a lot on their sites. They actually say that when they have extremely low house edge compared to other gambling sites out there. Sites will low house edge, give users better chances to win than sites with higher house edge.
The investment part is also true. As long as there is house edge, in the long run the casino will always win due to that house edge no matter how small the house edge is.
|
|
|
|
|
This actually happens because of what people are exposed to. We see a lot of negative news on the media. We hear more about scams in business than anything else. Do you think the media will report if a business is operating legitimately? No, they won't. But if the business is a scam, the media reports about it and people reading it only get to know about those who scam. Thus whenever they see any business that are similar to those scam model even though they operate legitimately, they end up thinking that they are scam.
|
|
|
|
|
Your post just sounds like you are trying to convince people to invest on coins that you have invested on. More like an advertisement.
Anyways, what you are saying is quite natural. When you see that the price of the coins are going up, you will then regret for not investing more than you have. This is something you should try to fight though. Else you will end up with huge loss.
|
|
|
|
|
Yeah, it will eventually change in the long term. Right now most people are indeed using it as a form of investment rather than using it as a currency. This is because they are able to make profit and take advantage of the volatility. Once more people starts to adopt bitcoin and it becomes less volatile, people will stop using it as an investment and start using it more like a regular currency.
|
|
|
|
Which ALT coins can replace Bitcoin ? In my opinion, I think: XVG - security coin , XRP - fast transaction.
Currently, I don't think any coin can actually replace bitcoin. It will actually take ages for other coins to replace bitcoin. Most people know more about bitcoin than any other coin. But all i know is that Ripple that is XRP won't be taking over bitcoin coin anytime soon. XRP is more like a centralized form of coin which actually defies the main goal of bitcoin |
|
|
|
|
No don't sell! You will just be making it worse. Instead, since the price is dropping why don't you start investing more of your money on crypto currency? The more it is dropping the more you should be investing to maximize your profit. The price will eventually go up, so yeah, its a win win situation for you where you are taking the advantage of the price drop.
|
|
|
|
I guess the blockchain connected to ID and notarial informations could make crypto loan more safer.
We can imagine that if you don't pay the loan you get automaticaly sued through the blockchain?
If you connect your ID, then you will no longer remain anonymous. So almost all top crypto currencies (that allows anonymous transactions) will be rendered useless. People will then have to use specific crypto currencies also. Again, since crypto currencies are decentralized, it will be hard for third parties to get involved on loan scams. |
|
|
|
|
Honestly speaking, it is far away and no way near its goal at all. Bitcoin was meant to be used for making daily transactions instead of fiat. But people are just using bitcoin to make fiat profit. They are just using it as a form of investment and some are using it as storage value to make profit. But bitcoin was formed to replace fiat and give people financial freedom.
|
|
|
|
As I have noticed these days, when the ICO hasnt finished yet and the sale was still on going, the bounty tokens has already been distributed and also unlocked they sell it immediately on forkdelta or etherdelta for a much lower that ICO price, in which it could greatly disturb the sales in tokens. As for you the investor on that token, would you panic when you see that the tokens you own already selling at much lower price?
There might be several reasons for the prices to get sold in lower rate. Some people are impatient and they try to sell all their tokens they received as reward through several bounty programs as soon as possible. Some realize that the project might not succeed and ends up selling whenever they have the opportunity. If you think that the project has potential, then don't panic. Just hold and try to invest when the price falls to maximize your profit. |
|
|
|
|
Why shouldn't they be scared of bitcoin? They will have no control over bitcoin since it is decentralized. The Government likes to have power over everything. Bitcoin denies them the power of controlling others financial stuffs and gives the people the power to control their own assets. Thus they are threatened by bitcoin.
Same goes with the bank. How do you think the bank is going to operate if no one stores their "money" on those financial institutions?
|
|
|
|
Your article is no doubt very good but I think that one should also his own to fully understand what cryptocurrency is and what the tactics to earn money from are investing in it. Then he will be more satisfied. New investors should collect data and information from sources he can because as many information he collects he will be successful investors.
If your intentions to join and use crypto currencies is to make fiat profit purely, then you do not need to "understand what crypto currency is" since there is nothing much to learn about the technology when you think about the profits only to be honest. But that is truly sad, since crypto currency was formed to replace fiat currency and use it to make day to day transactions, not use it as an asset. |
|
|
|
If you really think about it, all of the social media platforms make money from all of the people who use their platforms. Users dive in thinking they're on the next greatest thing, all while being suckered there so the platforms can earn billions off of them. Mark Zuckerberg, for example, made $41 billion last year from advertising. How would you feel about sharing in that?
We are using their platform without paying anything. Most people think it is free, but technically it is actually not free at all. We have to see advertisements and this is where we are indirectly paying facebook. Advertisements are the source of revenue for them and it is impossible for them to share it with us since the number of users is actually were high. |
|
|
|
Bitcoin being volatile as a currency is slightly an issue in my opinion. I mean, in a business point of view, you wouldn't want to receive a $50 payment that could be $40 tomorrow(though it could also be $60). But there's almost nothing we can do about it in my opinion. Volatility will decrease as adoption comes.
Yeah its an issue when conducting business, but what if we don't use fiat as the reference frame anymore. What I mean is, what if we don't compare the value of bitcoin with fiat? Volatility is indeed an issue, but you can take advantage of it before its too late. You taking advantage will actually start making the price more stable than before. |
|
|
|
my mew was recently hacked i don't even no how but my eth was stole and all my tokens is there anything i can do to recover it
If you are talking about the DNS hack, then there is nothing you can do since the transactions are not reversible at all. You could have taken precautionary steps though during the hack, but still can't blame you for your tokens getting hacked. So far i know, MEW is safe for now. |
|
|
|
Why don't you take this as an advantage and benefit yourself. Get them played. After they dump their coins and causes the price to crash, just start buying enough for yourself. The price will eventually rise back and you will make massive profits. The newbies that dumped the coins will learn something out of it and stop dumping their coins in the future. Its a total win win situation. |
|
|
|
|
Asking or taking peoples advice when looking for a coin to invest isn't the best thing to do to be honest. You will be getting biased answers. They will tend you to invest on coins they have invested on no matter how shit the coin is. Better do your own research. Look for coins which have potential and is undervalued.
|
|
|
|
|
Show Posts
