But now, each Bitcoin is priced at over $56,000. Rather $54,000. Satoshi Nakamoto had become the 15th wealthiest person in the world with an estimated net worth of around $73 billion, considering crypto holdings in the region of 750,000 to 1.1 million BTC, according to a November 15 article by the Independent. I question “the most prominent block chain analytics provider”. There's no evidence this person mined 1.1 million BTC, only assumptions based on pure speculation. We had a recent discussion about this topic: Is it possible, that Satoshi used precalculated addresses and not random addr. Do you guys think that this will remain a mystery? Or maybe we'll see this holdings moving soon? If Satoshi will remain a mystery? It's obvious they won't show up ever. As for the holdings, the fact that they haven't moved so far shows me that the majority of those won't either.
|
|
|
The seed is not correct The seed is definitely incorrect unless you don't count a checksum. Otherwise, twelve laptops would give you the following: 0111110100001111101000011111010000111110100001111101000011111010000111110100001 11110100001111101000011111010000111110100001111101000The green part is false, because, the first four bits of the hash of the blue bits is 0010, not 1000. A valid seed phrase would be: laptop laptop laptop laptop laptop laptop laptop laptop laptop laptop laptop labor (checksum failed : I don't know if it matters to correctly provide you an example). Where does that Electrum tell you? I just tried to import it using BIP39 and it worked fine without any debug log messages. When I use derivation : ExtKey extKey = mnemo.DeriveExtKey().Derive(new KeyPath("m/84'/0'/0'")); master priv : xprv9y4Jnspoiifv534Thtq5jsooccAGJAXNNCaD1jXdcKRMghvvqPp4bREXZ66a77QGKkBsjXfEBPU LX1keNQSLbkBFV8PKLe89fVuNGutZHgH master pub : xpub6C3fCPMhZ6EDHX8vovN671kYAdzkhdFDjRVop7wFAexLZWG5Nw8K9DZ1QNSdsDG95tiFVzGCqJn 9tXCpVTBhA2Q1D4kVgqDXbos4RPxHiGn It shouldn't return you xpub keys, but rather zpub as you're deriving from m/84 which gives SegWit Native, not Legacy.
|
|
|
Yes when I import the seed (directly) I use BIP39 and the correct derivation path and I found my tx in electrum. Which exactly derivation path do you use? Is it m/84'/0'/0'? Again, have you confirmed it on iancoleman? What does it return you? If you don't feel comfortable of doing it on your browser, download the source files and open up them on an airgap machine. Cannot really provide the exemple... it's an old wallet I used with 0 balance but linked to an exchange ( ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ) and with some personnal txs How did you create your personal wallet? Just generate another wallet that way and post the seed, the expected zpub and the resulted zpub. I just want to understand the exact procedure.
|
|
|
I confess that the above responses haven't convinced me for the reason of this flaunting. They're like — Irreversibility is better because of < whatever>. People say that merchants will love Bitcoin because of this and will hurry to adopt it and will offer lower prices, because they won't have to pay fees to payment processor if they accept Bitcoin on chain. But, the merchants should do what's better for the client. Especially, if it's a recently-made business that exists exclusively in the internet. I can't trust them my money if I don't have another trusted third party. [...] I understand you like this liberty that is offered to the seller, I can concede it from the way you've formulated your opinion. However, I'd like to respond to this: Bitcoin doesn't allow for that social engineering aspect, and while it could be argued that the fact you can't reverse or charge back a transaction as a negative, I believe its the best approach since you aren't relying on a third party to determine the fate of your money. There's a strange thing with people who support this innovative, anarchic technology: Instead of trying to give a solution, that will, if not completely solve the problem, balance the final result, they want to eliminate it completely. For instance, there's a problem with appeals which can happen even if the service is legitimate. How about making the transactions without trust? This way, the sellers won't suffer from this social engineering aspect. Yes, but as you can see there are other problems created on the opposite end of the spectrum. Imagine you selling some books to someone, then the buyer just reverses the transaction. The reversal doesn't just happen with the clicking of a button. The procedure is durative as you'll have to provide evidence you've got victim of a fraud. A- The merchants using the first way will get scammed very easily and they can't do much about it. How's that? You mean the customers? So if there were irreversible transactions you can bet that all merchants are going to be scammed every day. Irreversible like Bitcoin? They don't. You mean reversible like PayPal? C- The merchant can also not know who the user is so they can't tell if the user is a scammer or an honest customer. Isn't PayPal responsible for this?
|
|
|
NBitcoin gives a BIP39 mnemonic, while Electrum has its own standard. You should import it as a BIP39 seed, it's a checkbox that must be ticked during importation. If you knew this, then something else goes wrong. Have you tried it on iancoleman to see if it's fine there? Also, could you give us a master public key generated using NBitcoin and the expected address of m/84'/0'/0'/0/0 ?
|
|
|
That is the point, that is the reason we "flaunt the irreversibility" because once I hand you cash it's yours, once I send you BTC it's yours. And if you're a fraud, it's yours. Not mine. That's what I'm saying.
|
|
|
Maybe a dumb question, but why should I display irreversibility as an advantage? I recently made a transaction using bitcoin and waited for long time to receive what I purchased. So long that I thought I got scammed.
How can I, as a customer, be protected my malicious sellers? I can't really use an escrow service every time, I need to ensure the seller will be discouraged to steal my money with a smarter, cheaper and more comfortable way. For instance, PayPal transactions are reversible within a time frame of 6 months. I could address them.
How can the police confirm I've got scammed and not lied? It's definitely harder than with cash if the seller knows how things work.
|
|
|
It won't be 20,999,999.9769, neither 20,999,949.9769 which is the precise number. Genesis block's reward isn't included in the circulating supply. It's block number 0, which takes place in no halving epoch. Counting starts from block 1. But not impossible. Bitcoin which have simply not moved in a long time are not provably lost. The difference in your analogy is these bitcoin are already accounted for in the max supply. Capturing an asteroid filled with gold will inflate the supply of gold significantly. And those abandoned coins will inflate the currency if they suddenly appear into the market. Similarly with gold, there's obviously a specific supply within this universe, but a minority of the ounces are in the market. It's not impossible, but I consider it highly improbable for hundreds of thousands. They are even less secure, because instead of just "knowing public key", you also know a lot of correct signatures, where d-value is the same. That means you have a lot of "d=(s/r)k-(z/r)" equations, so a lot of "d=number*k-number2" expressions. So?
|
|
|
Therefore, those coins can and should be considered part of the supply. About 244,000 metric tons of gold have been discovered as of 2021 and around 10% of that is owned by the governments of US, Germany, Italy, France, Russia, China, Switzerland and Japan. NASA's telescope captured a rare medal asteroid whose gold if brought down to Earth, would make the ounce's worth much much less. So is the circulation ~244,000 metric tons of gold? No, but much more than that. Is it realistically effectively possible to reach that asteroid and start moving huge, golden rocks? No. So, why should you assume they are part of the supply? I know that you can't make heads or tails of which bitcoins are lost. However, you can assume that possibly hundreds of thousands won't come into the market due to the same reason the asteroid won't come down to Earth. It's highly unlikely.
|
|
|
The fact that they can be moved shows that they will be moved. No, it doesn't. If you throw away your seed phrase and delete your wallet, your balance will remain the same, but the coins will never be moved again. You can't consider those into circulation. Bitcoin supply is 21 million and not more than that but also not less than that. What about the provably burnt coins (OP_RETURN) or the unclaimed reward from some miners? It won't be 21 million, neither 20,999,999.9769 which is the precise number.
|
|
|
That could happen at any time that Satoshi or some other early miner with a large stack of dormant coins decides they wants to spend their coins. And yet, very few have recovered the 50 BTC. Being able to reverse the ECDLP means you'll get all the rest 90-95% that are considered gone for good. This will definitely upset the market. I don't know for how long or how much, but it'll definitely have an impact on your wealth. The fact that they haven't moved since the day they were mined shows that they're excluded from the ones into the actual, realistically assumed circulation. The “90-95%” is pure speculation. even sign messages. For which incident does that go to? The one that says Craig Wright is a liar?
|
|
|
mocacinno's response was excellent. Why do you care!? Honestly, it's just another early Bitcoiner who lost access to their wallet file. Not the first time, nor the last. It's extremely infeasible to find the private key by only knowing the address, not even the public key. If they somehow got moved, I would suspect they sit down and did everything possible to recover it and finally accomplished it. e.g. The following transactions happened in the past hour [I can easily list hundreds of those]: The only difference is that those coins are already in market's circulation. The Stone man's coins haven't moved for over a decade.
|
|
|
I don't understand, what's the problem? Why did the new version deleted your block chain? Did it have enabled pruning by default? Why is your fee lower than it should? Stop yelling and start explaining properly what's the issue. if the lead devs would just STOP thinking that some jackass that doesn't even know what a private key is is going to give a damn about any other option..then maybe bitcoin could go back to what it once was...A wonderful thing...as of right now... Such person is very likely to lose their funds in a dozen other ways... I cannot use bitcoin wallets to store value anymore because they are now in operable between clients... This sentence doesn't make sense.
|
|
|
[...] Tell me about it! When I was a newbie, there was even a member attacking to me, because I didn't realize the campaign was CFNP.
|
|
|
If you never reuse an address, then this will not be a concern of yours ever. It will affect them, though, one way or another. Yes, if they take the necessary precautions then their private key isn't going to ever be calculated that way by an attacker. However, the ones who do have exposed their public key and do not take those precautions will affect them. The market will be disrupted once an attacker finds out the first ever rewarded addresses' private keys. Imagine being able to include a million of bitcoins into circulation. Then, you need to ensure that the attacker can't make the calculations quickly. If they do and specifically faster than the time that takes your transaction to be confirmed, then they can even spend your own money. Nonetheless, it's considered an improbable scenario, currently.
|
|
|
I do not understand then, why whole crypto industry is in fear of an arrival of quantum computers? Because they are fearmonger. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Joke asides, it's because when Bitcoin started in 2009, Satoshi chose to make the coinbase transaction payable in public key. The uttered “Pay-to-public-key” ( P2PK). As a result, thousands of addresses containing this unspent output of 50 BTC have exposed their public key. Besides that, every address that is reused has also exposed its public key. Currently, the one with the most bitcoins, Binance's, has revealed its public key.
|
|
|
Username: PawGo Post Count: 266 BTC Address (must be SegWit): bc1q3ylzr609ul0zyk7tvdejfxevzr0dzc3fj24wxk
Currently, it's full. This is what that “[FULL]” indicates. When it's open for new participants, the manager will change it to “[OPEN SLOTS]”.
|
|
|
Something else (re)occurred to me [...] The bet is that people won't need a third party to transact when it comes to bitcoin. I won't exaggerate it with gold. Take for instance, cash, banknotes. You can't send me your hundred dollar bill, unless we make an arrangement, which is definitely impractical if we're far from each other. Due to that, we need a third party. In this case, it's the bank. The bank abuses this impracticality and creates debt. If the people suddenly stopped depositing money, the global debt would start reducing. That being said; So if they start using Bitcoin, they'll create their own internal accounting system, and there's nothing stopping them from turning it into fractional reserve Bitcoin. There is. Non-custodial wallets.
|
|
|
Good suggestion mate but that seems to be for e-commerce sites and checking out facility. Though it can be used on the niche webpage but it seems little too much for donation page. Nah... I think it's as good as an invoice. Write “Tip me!” instead to avoid seeming like a purchase.
|
|
|
|