The simplest way to increase your bitcoin is investing them in projects which pay a higher interest rates or you can indulge yourself in trading in the market with your funds.The other way is you earn by working in different ways like joining campaigns or writing blogs over internet and get paid in btc or work in company that pays you salary in the form of Bitcoin.There are several ways and it is you who has decide the best suitable way to increase your money with your knowledge and skills.
I wouldn't recommend someone to invest in any project that promises to pay "a higher interest rates". Time and again hundreds of such projects have came and went, scamming people out of their money. You must have a clear understanding of how the project functions or else one would fall into the trap of HYIP or Pozi's. Trading is risky as well because one cannot surely predict which turn the market is going to take next. Freelancing for bitcoin or other cryptocurrencies is the best and risk-free way to earn. Just with some initial investment in improving one's skills, you can get involved in providing your services to the world. |
|
|
|
In every market, there are what we so-called whales. Whales are the one who manipulates the price so basically they have control over how the asset/coin is moving in terms of price. When a certain asset or currency is being traded it is sure that there are a team of rich persons who are controlling it, nothing in this world is not getting controlled  If you claim that whales manipulate price and control the market than Bitcoin is not decentralized and independent. Those two claims are opposite with each other. To my opinion whales is given far more influence than they actually have so I still believe that Bitcoin is decentralized and not under any systematic influence. Decentralization lies in the core of Bitcoin's technology. Because of this no single person can influence the transactions or edit the block of a blockchain. But the price of any commodity being traded has no correlation to whether it is decentralized or not, it all comes down to supply and demand. Whales do have some power to cause slight change in price, but News or FUD has a much greater impact because it influences a large number of people to sell/buy at the same time. |
|
|
|
this is what will come to the attention of the government. does it need legal regulation or not for crypto. the concept of crypto decentralization which should be a breakthrough for future financial transactions. now it has been used by scammers. besides that most of the crypto users today are beginners who lack learning about crypto.
In my opinion, every government must work towards legalizing cryptocurrencies, so at least scams through startups with their ICOs get in check. I see millions of dollars being invested but as soon as the coin hits the market the founders sell their share making profits for themselves and resulting loss for the investors and users. All this comes down to the individuals who don't invest their time doing proper research before investing their hard-earned money. Scams have been happening for centuries, changing their form as technology changes and we must educate ourselves to avoid them. |
|
|
|
Unfortunately, nothing has changed in a year and a half, the same type of topics of the same type of tokens are created with the same purpose of their missions. there’s still a presale, as well as a team of non-existent developers assembled from random pictures from Internet. Years go by, but nothing changes.
Thanks for your astute analysis of this very elite ICO. Have you been watching this for a year and a half waiting for something to happen?  Seems a little odd for an account that just woke up.  I guess you understood it wrong, he is talking about the general trend in the ICO business not just related to our trustable "HoweyCoins". @Battareus you may help the potential victims of such scam projects by opening up scam accusations with correct proofs and negative tagging them. |
|
|
|
I believe many of us has lost the precious Bitcoin at some point. A lot of this loses could be traced back to wrong wallet addresses on the part of the sender (more reason you should double check the address before sending). At some point you mistakingly sent Bitcoin to an ERC-20 wallet or sent it to an incorrect wallet. Either ways, the coin becomes lost. In times like this thoughts like this set in, "why is there no provision for recovering lost Bitcoin? My answer to this might sound inconsiderate, but... It is a good thing you lost it, and it's a good thing it cannot be recovered. Maybe you will be more careful next time  When you consider something as valuable, you ought to treat it with great value and care, so before sending out your "valuable Bitcoin", if it's really important to you, ensure that you double check the address to avoid loss. If you have lost Bitcoin the first time due to the aforementioned wallet issue, then you ain't supposed to lose another one, as you must have learnt to be more careful now. It's not possible to execute a transaction sending coins from bitcoin address to an ERC-20 wallet's address. The bitcoin protocol would not recognize that address due to its completely different format. The immutable nature of blockchain prevents from unspending the transaction which is a huge plus point, we have seen many examples of Paypal frauds occur due to the unspending feature. In no way I see it as a good thing, losing your entire savings is a serious situation to be in. Though it contributes to the overall scarcity of movable bitcoins, but this can't justify the previous statement. |
|
|
|
|
The number of calculations that earlier supercomputers did, google's supercomputers are capable of performing it thousands of times faster.
It definitely proposes some risk to the bitcoin and blockchain in general because the basic building blocks of this technology is cryptography. Majority of cryptographic algorithm we use would fail against such computers.
So not only is bitcoin in danger, encryption is as well!
Some researchers have started working on supercomputer-resistant encryption algorithms. One of these emerging algorithms is related to encrypting using Lattices, which has gained greater traction.
|
|
|
|
|
There's no direct way to earn interest on bitcoin as we do with cash.
Few DeFi platforms have emerged that aim to provide interest on your crypto coins (mostly eth, tokens, or other cryptos). Some examples are Nexo, Celcius, Nuo, etc.
Another way used to be to deposit your coins into the bankroll of gambling sites and they would share a little percentage of profits with you.
Lastly, you can lend out to people in need the traditional way, by taking some collateral 9forum has a Lending section).
Make sure you research well, before jumping onto investing in any way.
|
|
|
|
|
Thanks, everyone for pointing out flaws in my method. The standard procedure seems the only way to proceed with one's backing up of private keys or seeds.
Someone rightly said that why re-invent the wheel when tried-and-tested methods work fine.
Locking up this thread since its motive is completed.
|
|
|
|
It shouldn't be possible as long as the transaction is confirmed beforehand. ETH is a decentralised blockchain, which means that the token creator simply does not have the sovereignty to reverse transactions at will, even if it concerns tokens that they issue themselves.
It is very likely that the person you're arguing with simply got confused somehow, or never received funds in the first place.
If it was a centralised ledger, then it COULD be done. But not for ERC20 tokens to the best of my knowledge.
It is absolutely possible for the Ethereum token developer to take tokens from anyone's account if he has made such functionality in the smart contract's code. It does not mean he is "reversing" the transaction, he just executed some code in smart contract that allows him to change other's balances. For people who are not aware of how a token works, here are the details: 1. The developer writes code (say in solidity language) for a smart contract, that when deployed on Ethereum blockchain creates a token and follows instructions defined in it. 2. The developer has full flexibility to allocate x number of coins to himself or any other address. He can even define some functions that can alter anyone's balance as per his, considering he is the creator of this code. 3. (technical) There is a hash map that maps the number of tokens to a particular address (assume 2d array with key-value pair instead of indexes). You can change its value as you would change any other variables'.
Btw, ERC20 token standard also has defined a function to allow someone to send 'y' number of tokens from another account, provided he has been provided allowance by the owner for the same. |
|
|
|
|
Newbies must make sure that taking payments in newly created tokens is straight-up foolish. A developer can develop and deploy a token within minutes and so they won't have any value unless the company behind it proves worthy.
It seems very lucrative to see millions of dollars allocated for the bounty campaign in tokens but what they are not aware is that once the tokens hit the market, they are worth just fractions of what of promised to them. There goes your hard work and there's not much one can do.
I took part in Gilgam.es' signature design contest and won but the payment was in tokens, within few months the tokens didn't even hit any exchange and now even the site has become unregistered; learnt the hard way.
|
|
|
|
I remember that the earlier posted images in a thread could not be viewed while on the preview/reply page.
We used to get: (img link)(FORUM: disabled on this page for security.)
First of all what was the security concern regarding displaying images on a webpage and secondly is the security issue fixed in the forum that now we are able to view the images?
I just tried with a random thread and I still get this ... That's weird because I am able to view the images in this particular thread:  Tracking pixels
Isn't this already prevented by the image proxy? Yeah, the image proxy makes a cache copy on the forum's server preventing tracking pixels. |
|
|
|
What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.
Have you ever heard about STABLE COINS? For example, the famous stable coin tether? It is a simple replacement of USD. Tether is a crypto and its value will be always 1 USD. I believe now you may understand why you never need a bank account for trading bitcoins against fiat (for example, against USD here as per your requirements). Still, you may need to clear KYC in come good exchanges to enjoy full freedom with them. I recommend bittrex for trading BTC against tether and you need to submit your ID proof and no bank account required. There are many exchanges are available to trade BTC this way even without submiting your ID proof. But, enegaing with good and reputed exchanges will eliminate lots of hassles. I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).
Now I confirm that you never come across about stablecoins. It is almost 5 years that tether has taken the places of needing USD nor bank accounts for trading bitcoins against fiat. Tether is still a crypto but it acts like a fiat, its value is fixed always. You are right, I didn't know much about the stable coins, I just read about them once but didn't think of using/trading. Stable coins fit my needs as their price would remain constant irrespective of the price of Bitcoin(my previous assumption for wrong). I believe that most exchanges would allow me to trade, with some maximum threshold, without the need to fill out the KYC. |
|
|
|
|
I remember that the earlier posted images in a thread could not be viewed while on the preview/reply page.
We used to get: (img link)(FORUM: disabled on this page for security.)
First of all what was the security concern regarding displaying images on a webpage and secondly is the security issue fixed in the forum that now we are able to view the images?
|
|
|
|
You're replacing one potential problem (physical damage to a piece of paper) with multiple passwords, a cloud service, etc. Too complicated and too many points of failure.
A laminated piece of paper in a waterproof/fireproof safe works well, maybe a second copy offsite if you're really paranoid. Or a hardware wallet.
Yeah you are right, but I wanted a way to access my wallet as I usually live remote, away from where I would have kept my keys in physical & permanent location. Can't risk it to carry them along with me wherever I go. 2. Add it to a .zip file and encrypt it by setting a password.
You'd have to be very confident in your ability to create a strong enough password and being able to remember it is probably more important. Anyone thinking of doing so would do well to spend a while researching the best way of creating strong and memorable ones. I have plenty of encrypted folders with variations on long term passwords that I can't remember. There's nothing of importance in them so it doesn't really matter. It obviously would in this case. I am pretty confident that I would remember all the passwords involved. I also use a sort of algorithm (mentally) that enables me to modify my password, making it unique for each site, so it's not much of an issue. I cannot emphasize much on the importance of having different passwords for different websites. I remember what Bob123 say to me: While redundancy is good. Even redundancy via the cloud is good for safety. But it is not a good way to "secure your recovery seed.." as stated in the OP and the title of this topic.
Storing such sensitive information (which gives anyone who has access to this information the full control over your funds) online is the exact opposite of secure.
From his post, I learn to more careful to save our PK on cloud storages. And, remember, Google not really save too, because they tracking everything that connect with our account. Maybe you can read " Let's talk about Privacy" by Bitmover. There are many Google alternatives you can use. DWYOR/DYOR In order to maintain my privacy with the google cloud, I upload only the encrypted file to their server. Thanks for linking this thread, wasn't aware of other open-source alternatives like these, the only problem they have is one has to setup his/her own dedicated server. I never knew that you can open an image file with notepad, I just don't like the idea to upload it on Gmail. I have an experience where I can't open my email account anymore due to long inactivity. although it's not Gmail, there is a tendency that it would be the same. I'm talking about my yahoo mail, I know the password but I cannot open it anymore it asks me some verification to another email which I don't know the password. FYI that Email I'm trying to open is my first email in 2008, older than Bitcoin. something like this could happen, you need to aware of it guys.
...
Woah, you definitely got a valid point here. This thought never crossed my mind. I wasn't aware that such things might happen for inactivity. As in this case, I would be using the cloud for backup purposes only, so logging into this email is rare. Btw, one can setup "Inactive Account Manager" (link: https://support.google.com/accounts/answer/3036546?hl=en) to forward any data before account deletion by google. Here's a quote: As of late 2017, Google does not automatically delete inactive Gmail accounts. The company reserves the right to delete accounts that remain inactive for an extended period of time but does not usually do so. The information on Google's Gmail account deletion policy is here for historical purposes. ...
Still easy to break with a classic $5 wrench attack though...
Haha true ! ...
zip also can get virus
Google maybe will block your account without notice
also to open it we must use laptop, pc, phone.
I don't think the zip would get virus if it is safely stored in the cloud. I fully accept that Google, being in control of this could cause a problem. Might need to consider better alternatives. As in cryptocurrencies, it all comes down to Being Your Own Bank (BYOB) ! |
|
|
|
|
So, recently my personal laptop's hard drive got corrupted and all my data was lost, including private keys for my wallet.
...thankfully I already had a secure backup of them and no coins were lost.
Here I am sharing my technique to beginners so they can back up their private keys the same way I did.
Many of the users might be storing the keys/seed in some written form but physical damage to paper might lead to loss of your funds.
Here's how I do it:
1. Edit an image using notepad, paste the seed in between.
2. Add it to a .zip file and encrypt it by setting a password.
3. Create a new Gmail account and set up 2-factor authentication. Upload .zip file to Google Drive.
4. Remember this account's password, and Never use it. NEVER. Don't save to any password manager, just remember.
5. That's it, you got yourself a secure online backup for your keys.
Don't repeat the password in any step, or else this method might become useless.
I don't know if this is optimal or not, but comments are appreciated.
|
|
|
|
...
What I don't understand on your statement is on how are you going to enjoy your money if you will not withdraw it to your bank account?
I don't need it in fiat for the time being. So I thought maybe I can just trade and increase my current stack of coins. ... I highly recommend coinbase pro: https://pro.coinbase.com/marketsThey have a license to operate and their headquarters is in San Francisco California so quite safe to trade fiat to BTC. I believe bitfinex offer BTC/USD trading too but keep away on that exchange since they have a lawsuit against them. You can check your state on the below link if coinbase has a licensed to operate in your place. See here: https://www.coinbase.com/legal/licensesThanks for this information, but I am not a US citizen so don't think I can use it... Pretty much all exchanges won't require you to have a USD Bank account, and it's just that you will withdraw your profits in BTC instead of USD. I doubt you'll find an exchange that could give USD without a bank account, that's just not right. Check https://coinmarketcap.com/rankings/exchanges/ for the rankings with adjusted volume. Choose any of the ones there and probably use BTC as a deposit and withdrawal. FYI, you already answered your question. Just use crypto and you don't need a bank account. What's the point? I would be just withdrawing the funds in crypto as the time comes.
Let me clarify my question, I want to trade my coins for USD and vice-versa but I don't plan to withdraw my USD to bank. For example, say the price of bitcoin reaches $10k so I would sell some and keep the USD in the exchange, and say when the dip happens and the price goes to $8k I plan to buy back the coins using USD stored on exchange and withdraw them back to my wallet. |
|
|
|
|
Being involved in crypto space for quite some time now, I have seen the price going up and down a numerous times.
I plan to try out trading to try my luck.
What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.
Do enlighten me regarding this.
I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).
|
|
|
|
|
I just came to be aware of a new concept (to me) in the crypto space called Decentralized Finance (DeFi). It aims to offer the services of classic financial institutions through smart contracts and blockchain.
One of the use cases is to earn interest, as one would expect in a bank.
I just want to know your critical views whether one should involve is such or not. Would like to know if anyone of you used such platforms?
Many hodlers' coins keep on lying and this might be an additional source of income for them.
Ps: I am not talking about any Ponzi's that claim to multiply your deposits.
|
|
|
|
|
Show Posts
