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I have been studying about bitcoin and wallet technically so far, I have already know how to use replace by fee (rbf), it was very simple for me. But I do not get how to use child pay for parent (cpfp). That is why I want to ask the question here, for you people help me out. Maybe I am just getting it wrong.
For instance, if I transfer bitcoin from bitcoin core wallet with a very low amount of fee but the transaction did not get a single confirmation, normally I can use rbf to pump the fee.
But if I want to make another payment to another bitcoin address, if I use higher fee that can make my transaction to be confirmed fast. Is that cpfp? So that my first transaction will be confirmed at the same time with the second transaction.
Or cpfp only work if I transfer bitcoin again to the previous address but with a higher fee that can make both to be confirmed on time?
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I have just updated my electrum wallet today on my mobile phone to the latest version (4.0.2), I was surprised to see "lightning", I assumed it to be lightning network. I do not really know about it. I saw:
Gossip: Not connected
Connections with lightning nodes
Nodes: 0
Nodes in database
Channels: 0
Channels in database
Pending: 0
Channel updates to query
I practically do not know how to use the lightning network. I will like your help. How will I set up a channel? Can I set up the channel on electrum wallet directly?
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I think that we need to add another 8 items to this list, which is also important. A distinctive feature of the Ponzi scheme is that it sets a guaranteed profit for a certain period of time. There is no guaranteed profit in bitcoin: here everyone can get a profit if the price of BTC increases, but they can also get a loss if the price of bitcoin decreases.
You are right, I will add this to it too. The profit earned in trading or investing in bitcoin depends on the bitcoin market price. |
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I was just thinking recently if a member is offering a lending service on bitcointalk but go against the rule of the forum. If temporary baned is still better but what about permanent band. If the person offering the lending service is owed by one, two or more members totally 0.5btc more or less. Will the person be banned immediately or given warning for ban notice? Or if ban, can the person appeal for unban so he can receive back his funds from debtors? Don't mind me, just want to know about the forum better.  |
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-1: You don't want people to know how many bitcoins you have on your wallet
-2: You don't want people to know the address 1abcdefghijkl is owned by Oshosondy
-3: You don't want people looking at spending patterns
-4: You don't want to know the address owner of 1abcdefghijk is leaving at 123 avenue of liberty 75000 New York and to see people visiting you at home to kidnapp you. (similar story happened before)
As you say Bitcoin transactions aren't anonymous, this is why we use to say "pseudo-anonymous". Above are couple examples you can think about.
Well explained, I can see bitcoin transactions not to still be anonymous now, this is also well explained into full clarity. But, I will like if 1 more question is answered. What principle are mixers using to make just a single address to have privacy? Are mixing services having addresses of there own using to mix transactions from another address. For example, will the bitcoin transacted from donor be first sent into mixers addresses before it is sent to recipient? To just make it less traceable. Donor's address-----> mixers addresses-----> Recipient's address Is it happening this way? |
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I have been wondering what bitcoin mixers can offer me. With what I have read on this forum, bitcoin transaction is not anonymous, because it can be tracked using blockchain explorers. I do not know much about bitcoin mixers, can they make bitcoin transactions still anonymous? Or please, what is the function of bitcoin mixers?
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I have been wondering of people telling me exchanges can freeze accounts, that makes me very afraid to use exchanges to trade, a friend of mine told me hitbtc freezed his account. That makes me here to ask the reason why exchanges can freeze account.
Why are exchanges freezing accounts?
What can I do to make them not freeze my account?
What are the best exchanges to use?
I like no kyc exchanges, please do not advice me to use any kyc exchange. I prefer exchanges that do not demand for kyc or the ones that makes kyc not mandatory?
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There are different types of malware, the common types are Virus, Trojan horse, Worms, Botnets and rootkits. There are still many other types and they are all deadly to your bitcoin wallet devices. Malware could damage devices that can be used to connect online, they can also steal information on bitcoin wallet devices. That is why they need to be avoided. Common reason malware need to be avoided* Malware have been reported to steal information from devices that connect online, keyloggers is a good example. * Malware have been reported to steal google authntication code even if it is TOTP, google authenticator that is time based as been reported its codes can be known to hackers through malware. * Malware was reported several times to mine through thousands of devices, a good example is botnets that is used to mine monero. * Malware can steal private keys which will be used to zero your wallet balance. It can also be used to know your seedphrase. * hackers can use worm and other types to hijack wallet devices, telling victims to pay ransom. * Malware can install more malware which can even result to total loss of privacy and risks of losing bitcoin wallet. * Viruses can damage the whole bitcoin wallet device. * Malware can change recipient address to hackers address and bitcoin sent to hacker unknowingly. These are just common but few of what malware can do, they are the best way hackers can make someone lose bitcoin or a whole bitcoin wallet device, many people that have million dollar worth of bitcoin can lose at ones in a day because of malware, malware can turn a rich person to a poor person in just in a range of 1 hour to a day, that is why we need to avoid it. How to avoid malware that can hack bitcoin walletsAlthough, malware can be uninstalled by professionals but the best is to still always prevent it, it could be late already before you will know your bitcoin wallet device has malware, this will make me talk about how to prevent it. * Be it phone, computer, or others, do not use them to browse online, although, it is your choice but it is a good advice. * Do not be greedy and not patient * Avoid airdrops, cloud mining sites and mining sites, join a reputable mining pool is better. * Do not click on ads, the site can be secure but display malware ads. * Be careful of any high yield return sites. Ways to install malwareMalware are very dangerous but also very easy to avoid, if you know the ways it is installed and follow ways to avoid it, your bitcoin wallet device will be protected. Malware are installed from unprotected sites, any site can be unprotected and be secured. So from the above ways to avoid malware, you can protect your bitcoin wallets. PS: One of the easiest way of combating this issue is installing antivirus on your device and not just any free ones out there because they too can be corrupted.
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+ RISKY/BAD TO USE BORROWED/LOAN CAPITAL: at this time the sun is slowly rising on the crypto-coin -price- you can have newbie seeking loan or borrowing to buy, very terrible risk to do, same was the sun is rising on the price, it can set on it as fast. Don't get caught in the FUD -i will get to this latter-
As said, newbies. There are requisites to investment and trading, no matter how newbies are, they are susceptible to losses, this is what leads to experience before they can gain. Newbies also are not patient and disciplined, they also are greedy. That is why newbies should even start with low amount of capital because losing is higher than gaining for newbies, and for just to learn more and have experience. Also, I can not even advise any person to borrow money to invest or trade crypto, the price may not favor but borrowing require interests in percentage in funds borrowed which could result to panic and depression in unfavoured It is good to invest or/and trade with what you have, this makes the person patient and contented. |
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In fact, 8 points that define ignorance are not enough. Those who come to crypto must have good patience. By acquiring knowledge, we shield ourselves from mistakes. Large profits seduce people, and they, out of their fervor, invest in many scam projects. But sometimes life teaches us a good lesson. Once we have lost something, we begin to act correctly and learn from mistakes.
Yes, you are right, I have quoted Coolcryptovator comment and included it nn the topic it is also about what you meant. |
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In past was easy to get bitcoin and not link your identity to the coins. Nowadays is much harder and it all looks in future it will be close to impossible. Bitcoin and private simply have little in common. People in countries where privacy is tradition will avoid using Bitcoin. People in countries where privacy is not tradition will widely use Bitcoin in the future.
I will first say bitcoin is not anonymous right from the beginning, but privacy can still be of high standard even till today. If you use another address for another transaction makes only a single address fee traced to your wallet. You can still buy on some exchanges that require not verification, certain amount of bitcoin can be bought on bitcoin atms without any verification needed. Only novice are the ones using wallets and exchanges that require verification. |
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Shit coin can make you filty rich and can also rekt you, if you do your research in choosing the right one you tend to have a lot of gains and if you don't do your research as OP didn't, you tend to loose all your money, I've seen shit coin move from $0.003 to $0.4 within just three days, imagine you invested 2 eth on it, that's pretty cool cash
Shitcoins are shitcoins, I am not talking about altcoins. There are many good altcoins but many are shitcoins. Shitcoins are coins that are subject to more fall in price like bump and dump of a coin. If you do your research and you see a coin to be good with professional analyses, then it is not a shitcoin if it does not dump in price and become a deadcoin. |
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Nevertheless, we need to consider that the above, basically done for fun, applies mostly to a delimited set of forum members. The average one needs to rank-up at a pace similar to what it was like prior to the introduction of the Merit System is between 1 and 1,25 earned merits per day (depending on when your Legendary Activity counter is bound to trigger). That is not that simple to achieve, and many people struggle, although it becomes feasible with time and perseverance (and some communication skills).
I have now prettily understood this, it is very important to have alluring communication skills, I have seen many members will good communication skills receiving merits and ranking up, but it is also included with their hard work especially the newbies, members and full members. All these qualities are know while staying longer and understand more about this forum. |
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I was so thankful to be one of the members of this forum, I would have been scammed or my wallet would have hacked. I have learned may things about this cryptocurrencies. I just want to appreciate this that this forum is very useful and led me to crest this topic most especially for people who are not on this forum that browsed about it using google search engine because it can or may not be new to most people on this forum, but it is very possible new members are included to learn from this thread I started. 1. I have seen seen someone that was decoyed by a fake lover on social medial to send bitcoin to a given address but was actually a same, ignorance makes them to believe who they never know. 2. Ignorance and greediness make some people to invest on ICO and on a pumped project but later lose. 3. Ignorance make some people back up their wallet seed phrase on device they use, if the device is damaged then the seed phrase gone and the wallet and coins on it will be lost. 4. Ignorace makes people to carelessly use the wallet device online and install malware which result to bitcoin and altcoin or the whole wallet loss. 5. Ignorance make people to collect airdrop careless but leading to phishing attack and/or malware installation. 6. Ignorance makes people use public WiFi to even use it to open there bitcoin wallet. 7. Ignorance make people fall for ponzi scheem. 8 ignorance make people decoy to pay certain amount to collect big about to doubler sites and nothing it return and they are scammed. These are just few, but this forum made me realized that all we need is to have knowledge about how scammers do their tricks, to avoid them is simple but lack of how to avoid them makes people to be easily scammed, I have blamed many people before but I later understood it is because they know nothing about scam. And lastly, I thank this forum once again for revealing how scammers can try to scam. Although ignorance resulted to scam but I have to add this comment from CoolcryptovatorWell wrote OP, although ignorance isn't the only reason it's one of the important reasons why we get scam. Most scam cases happen due to greedy behavior and to become quick rich. The quick rich method is one of the most dangerous reasons for the scam. Wherever we see some greedy offer we jump on it without conclusions. Some scam happens due to lack of enough knowledge, to be honest, I meet with PONZI word after joining on this forum. Before that, I wasn't aware of Ponzi even I was an investor of the rev-share scam at the beginning (I wasn't into bitcoin that time). No one explained to me about this ponzi scam because of their referral commissions. So it's more important to learn from such as forum and nearest friends. Ignorance scam could happen when you know something but you get scam due to carelessness.
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But why im still earning even I didnt recruit another investor?
Why im still able to take profit even im not an early investor?
This is a very right comment, a good example happened in three days ago till today. Bitcoin was at at 9100 three days ago and has risen to $9900. Since 10 years ago, people that can trade are able to always make profits. Bitcoin is also decentralized and very transparent than being fake like ponzi schemes. Those people saying bitcoin is ponzi might have a bad experience investing. Because if you know how bitcoin works you wont have such mindset.
Some can have bad experience but it is not mainly about bad experience, they are completely novice and may not get what bitcoin is. |
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I was recently learning about bitcoin, I saw online that bitcoin was a ponzi, I later realized what the authors of the article was trying to say in summary, that ponzi is a business many investors lose while the people that set it up gained as many as possible money. I was later confused that is bitcoin actually a ponzi? I started to think of what I could not see online why bitcoin is never a ponzi and few reasons came to my mind. Before I can tell about the reasons, we have to consider what ponzi is. What is ponzi? I like a simple fact that says " ponzi is a scheme in which Peter money is used to pay Paul. I believe that example is a good definition on its own, in ponzi scheme, the people that started it gain the most, people that first invested are the second that gained in such a way that the people that invested late are the ones that lose. Check the diagram below:  https://www.google.com/search?q=Ponzi+scheme+diagram&tbm=isch&source=iu&ictx=1&fir=dxjUbGDCkvRQQM%252CsHiiS1Y747SmvM%252C_&vet=1&usg=AI4_-kT6_73-JQY5mKanO5LLbcIA1iPu9A&sa=X&ved=2ahUKEwjK_b-cxeDqAhWDxTgGHf2MC7YQ9QEwA3oECAkQIg&biw=1261&bih=2039#imgrc=dxjUbGDCkvRQQMAs seen in the diagram, it is a pyramidal scheme but ponzi scheme work this way too, let us consider the people that started it as 6 shown on the top of the pyramid, the 216 participants as the people that invested early, the 279936 as the people that invested but not too late, the rest up to billions of people invested late before no people are investing. If the billions of people invested, their investment is used to pay those at the top but how will they gain because nobody investing again. People that stated ponzi gain from all investors and have the lion share. People that invested early do not gain from investors but from people that invested late People that invested late just lose because nobody is investing again. The scheme failed. That is why many ponzi scheme has failed in the past, some people still run ponzi and fail because they are liars, they sell fake products and services, lying to their investors until investors to be payed outnumber those that are investing and until the whole scheme failed. I believe we all know what ponzi is now. So let us dive into why bitcoin is never a ponzi in summary. Why bitcoin never a ponzi1. Bitcoin is decentralized, all ponzi scheme are centralized 2. Bitcoin is not selling any fake product or service, it is completely transparent. 3. Bitcoin is over 10 years now but has never failed, the future even seem brighter than now, ponzi can not last up to 10 years. 4. Bitcoin was even portrayed on wikipedia to be for scammers, but this changed, and was portrayed good now. 5. Many goverments against bitcoin before but now they accept bitcoin, there are even over 7000 bitcoin ATMs in the world now, and bitcoin is used for trnasactions like fiats, even used as payment on some online stores worldwide now. 6. The early investors gained, they were the developers but not in a way the late investors will lose, also many early investors sold bitcoin and makes it more realistic unlike ponzi that has nothing to sell. If you get the market right, there is always still profit in bitcoin. 7. Bitcoin is a very good and easy payment method acceptable in many countries now, has any ponzi been like this? No 8. I think that we need to add another 8 items to this list, which is also important. A distinctive feature of the Ponzi scheme is that it sets a guaranteed profit for a certain period of time. There is no guaranteed profit in bitcoin: here everyone can get a profit if the price of BTC increases, but they can also get a loss if the price of bitcoin decreases.
There are many other reasons to talk about because these are only few, bitcoin is not a ponzi like bitcoin haters are depicting it, it is completely decentralized and transparent, people that want to invest now should not be discouraged, if they learn how the market fluctuates, they will gain but they should also be mindful of the risk. Bitcoin haters should stop misleading people about what bitcoin is because they know nothing about bitcoin. |
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2. Yes a higher fee gives a higher priority but so does the age of the transaction (afaik).
What effect could the age of the transaction has? Did you mean the longer it takes the likely the transaction will be done? |
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I really like this forum, it welcomes even beginners to also ask questions and many of my questions has been solved. I have been using bitcoin for weeks to months now but I still have some questions that I still do not able to answer for myself. I will really like you people to help me out:
1. The fastest bitcoin transaction I made was 9 minutes and some seconds with bitcoin core full client wallet. Can the transaction time be reduced to 1-5 minutes. I mean if I still increase my transaction fee, because I use the normal transaction fee, suppose if I increased it to high fee.
2. I think the transaction fee can altar bitcoin transaction time? Or why should we increase the transaction fee?
3. I notice when I transfer from my wallet to another person, the amount of bitcoin transferred will leave my wallet immediately, but it still take time to reach my friend wallet, where is the bitcoin at the time? Not in my wallet not in my friend's wallet.
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If you plan to import multiple private key, there are ways to make the whole process faster by only perform rescan when you import last private key. Example : importprivkey "your_private_key" "your_address_label" false
importprivkey "your_private_key" "your_address_label" false
importprivkey "your_private_key" "your_address_label" true
So, if I set all to false, all the private keys will be imported at ones till the last one is set as true. Thank you for this. Although, I imported only one private key, I later send my other bitcoin from coinbase, it has no private key, I did not know this before. But the whole transaction has been completed and successful. Thanks. |
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