No cause for panic. Corrections are typical and expected (but not predictable, unfortunately). I've seen bitcoin falling from $31 to $2, in the second half of 2011. Then there was panic. Now we have Bitcoin Cash, which may partially replace bitcoin, but since I have both in roughly equal amounts, I do not worry about it too.

I would say that Bitcoin dying in the near future is extremely unlikely. However, as a platform for microtransactions, it died long ago. The fees and transaction times make Bitcoin absolutely unsuitable for use as payment for goods in online shops and so on. It starts to look more and more like 'digital gold'. It is hugely more convenient than gold bullion, of course.

OK, I see. Fortunately I use a virtual machine (VMWare) with macOS Sierra installed in it for development, so it has xcode already. I did all the steps and the wallet is running. Synchronization is slow or does not work, but this may be because of the virtualization.

One more observation about mining. The "Market" section of the pool web site shows exchange rate for Monero, which is misleading.

No. I've sold a little but still holding most of my Bitcoin Cash.

Between 1 and 10. I've never acquired more than 10 (I was mining in 2011 and 2012, but never had really powerful hardware) and I still have more than 1 

Yes, to some extent. I've heard about Bitcoin sometime in late 2010 or early 2011 and thought: "well, 'cryptocurrency', a curious thing..." Then I leisurely did some research and finally started mining, but I had only CPUs and it the difficulty was skyrocketing. If I knew that then every day counted... Later it would be possible to buy some coins but I never imagined that it would be able to rise from $4 to $4000.

Thanks for the airdrop. Now some thoughts...

The wallet software is buggy. 32-bit windows version does not work, because all executable files (including the daemon) except the wallet GUI seem to be 64-bit. Windows version also does not work when the path to the user directory contains non-ASCII characters. This is really strange because the GUI is written using Qt, which fully supports Unicode. I am a software developer, I use Qt for some of my projects and I've never had problems with this. Mac version does not work at all. Also, where is the source code of the GUI?

Mining works (I've tried CPU mining under Linux and Windows), payouts are as expected.

Yes. Mined in 2011, probably even using CPU, not GPU miner.

Well, "totally suck" may be an exaggeration. I do not say that online wallets should not be used at all, now I myself use some for altcoins, but the value of coins there in my case is tiny. Personally I prefer to use open source software whenever possible and I generally do not trust applications running on a remote server. It is also easy to make backup of a local application. Moreover, as far as I remember, not all web wallets allow you to own private keys.

I've seen some warnings about phishing sites. https://electrum.org is the official web site. The client is open source and the first version I've used ( 1.9.8 ) was included in Debian GNU/Linux distribution, which is itself a sign of trustworthiness. The downloads at the official web site are signed and I recommend to always check the signature before installing.

Thank you for the tokens!

Yes, that corresponds to my own thoughts after I did some research a year ago when migrating from the full node.

Electrum. I have no use for mobile wallets and I consider web wallets to be less secure than lightweight desktop clients. Used the full node since 2011 and until 2016, but 100 GB of storage space for the full blockchain finally became unbearable.

Thanks for the suggestion. I will probably try it when I need to send the next transaction, but now I have successfully transferred all I needed.

Thanks, I've found it. I was using version 1.9.8 for some time, so I became used to the manual fee editor directly in the sending window.


I've used the preview in case of automatic calculation too, as it seems to be the only way to know the exact size of the transaction and to calculate the fee in satoshi per byte.

I see. Yes, I understand the mechanics. The transaction finally got a few confirmations, several in a row.

Actually even the highest setting seems to be not high enough.

I have send a transaction with the maximum fee selected in Electrum, about 150 sat/byte, more than mentioned here: https://btc.com/stats/unconfirmed-tx. No confirmations within half an hour. What is really bad that the newest version of Electrum (2.9.2) does not allow to enter a larger fee manually. What should I do? I would gladly pay more to GUARANTEE a confirmation.

Thank you for the answer. It was about a year ago. It seems that during summer of 2016 many people experienced something like this.


All right, I will compare them and probably choose the largest of the two, maybe a bit larger. Although the fees are high, I do not mind paying slightly more, because relative to such a transaction they are still very small.

Hello,

I am using Electrum 2.9.2 as my primary BTC wallet. I rarely send transactions from it, but now I wold like to claim Bitcoin Cash and the first step is to send all bitcoins to a new wallet, as recommended. The problem is that I am very reluctant to send most of my BTC because of frequent confirmation problems. When I was migrating from the full Bitcoin client to Electrum (the blockchain size then was about 100GB and I decided that it was time to start using a lightweight client), I sent a transaction (fortunately with only part of my bitcoins) using the suggested fee. It never got a single confirmation. I waited about a week, then had to use some command line functions (I forgot the details) to make the client to forget about it (BTC did not return to the wallet automatically) and resend it.

I know that increasing the transaction fee increases confirmation probability, but Is there a way to determine how much is enough? Is the fee suggested by Electrum reliable? Can I rely upon the information provided at https://bitcoinfees.21.co/? Should I wait until the mempool (https://blockchain.info/ru/charts/mempool-size) is almost empty? Does it make sense to wait until the Segwit activation? I really do not want my coins to became stuck in an unconfirmed transaction for an indefinite amount of time.