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8081  Bitcoin / Bitcoin Discussion / Re: It's not a good rise, actually it's bad on: February 12, 2021, 04:49:22 AM
If he bought XRP people would of course buy XRP but is that wrong? He's rich and smart and people follow such characters.

For me it's a great rise because he did not spread FUD, he really bought!
There is a big difference between bitcoin and shitcoins though. So you can't really compare the two cases. For example take both his tweets about both bitcoin and dogecoin for example.
Bitcoin price goes up and stays up
Dogecoin price goes up then drops down

It would be the same with any other shitcoin because hyping a shitcoin creates a pump and a pump is followed by a dump without an exception but hyping bitcoin leads to more adoption and price rises and real rises with real adoption never reverse back.

It is the same with FUD, the panic caused in bitcoin is temporary and any drop caused by FUD will reverse but a shitcoin that drops after a FUD can not recover.
8082  Economy / Speculation / Re: Owning One BTC In 2035 Will Make You A Millionaire on: February 12, 2021, 04:31:47 AM
Once that's reached and its on it's way to 200k it's going to become very difficult to accumulate for regular folks.
Difficulty of buying bitcoin is not affected by its price, the amount you can buy with the same amount of money changes but it will be as difficult or as easy to buy bitcoin as before even at $200k!

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If you can jumpstart your entry by borrowing 10k, 20k or 30k from the banksters do it
That is a terrible advice. You should never invest what you can't afford to lose specially if you are a newcomer to bitcoin world and not yet familiar with how things work with bitcoin itself (such as how to use wallets, security, cold storage,...) or with the market (specifically the unpredictable short term high volatility).

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Buy $20 chunks as often as you can, pay no heed to the price. Ditch your daily $5 Coffee - that's $150 of Bitcoin per month, stop the pizza delivery, buy $15 of BTC instead.
This is the only good advice in your whole post.

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During the journey you may want to punt a portion of your BTC on an Alt you believe will rise greatly
This is another terrible advice, more so for beginners.

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be careful though and do not panic if your alt crashes because 99% of the time they will recover to the price you bought in at.
This is not the truth. In most case altcoins that get dumped will never recover to their previous prices ever, specially if the pump preceding the dump wasn't the first pump and if it was a big one.
8083  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: FreeWallet locked even Elon Musk. I still don't trust them. on: February 12, 2021, 04:21:02 AM
Even if he used this wallet, it doesn't means that he keep his billions worth crypto there. He doesn't looks stupid enough to do it.
That's true but I was mostly talking about him believing in the technology, maybe I shouldn't have mentioned the billions of dollars part.
You see Elon Musk is not the average Joe that entered bitcoin hoping to make money, he doesn't need money since he is one of the richest men alive. He also has shown interest in the technology and what bitcoin offers not just the monetary value. That is why it is hard to believe someone like him using such a terrible wallet service.
8084  Other / Beginners & Help / Re: A Group Of Newbies Traders Cant Move The crypto market on: February 12, 2021, 03:52:02 AM
That's is because in the crypto markets a thousand people can perform analysis together and collectively decide to pump or dump a coin and the trade will still go against them..
This is the definition of a "pump and dump" group which are actually very common in the altcoin market. In fact it is not at all hard to pump and dump majority of altcoins, depending on the size of the altcoin it requires a bigger and more experienced group. For example big altcoins such as ethereum have bigger pumpers that have millions at their disposal thanks to the 72 million premined coins they had but smaller altcoins with low volume could be pumped by anyone with very small amount of money like 0.01BTC even.
8085  Bitcoin / Bitcoin Technical Support / Re: Help with 16 word seed phrase? (10% reward if you can help me) on: February 12, 2021, 03:43:15 AM
You should start checking your words against the BIP39 word lists (found here, most probably only the English is needed) to make sure what you have has the possibility of being a valid mnemonic. This also helps if some words aren't in there (like 4 last ones) that may mean the first 12 are your mnemonic and the rest are your password.
Otherwise it may not even be one and as you guessed it could be some weird implementation with its own custom words. blockchain.com used to use a much longer word list with weird words in which case only their support can help you.
8086  Bitcoin / Development & Technical Discussion / Re: BTC can only get better: introducing the Smart Network on: February 12, 2021, 03:29:54 AM
Bitcoin isn't more secure than other payment systems that are way less expensive.
Bitcoin is more secure than both centralized and decentralized options.

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If btc can't compete with other payment services then it's almost a 100% sure that the price will fall at some point (not my assumption, no utility means no demand). Be aware that the network's hashrate can drop regardless of the value of the coin.
The utility that bitcoin offers is a censorship resistance currency that can be used globally with a very fast speed. Other payment systems don't have any of that.
8087  Bitcoin / Development & Technical Discussion / Re: Old BIP32 flaw lets you derive the master private key - WONTFIX? on: February 12, 2021, 03:12:25 AM
I don't think we can refer to this as a bug, it is more of a feature (with side effects). Besides users are not supposed to reveal their private keys in first place whether it is one or all.

The feature (meaning the way child keys are derived in a non-hardened path) allows something like what Electrum does, you create your mnemonic offline and derive the (public + private) keys there. Then only copy the master public key and move it to your online wallet and derive the same (public) keys there too.
Without this feature, this option wouldn't have been possible.
8088  Economy / Speculation / Re: When Bitcoin is going cross $50k? on: February 11, 2021, 07:21:46 AM
Right now we have psychological barriers that have to break otherwise the upward rise is not changing. But more importantly we have some traders that keep shorting bitcoin who are preventing the price from going up. These sudden rises that we have has been a good way of making them lose a lot of money. When they run out of money enough to discourage them from shorting bitcoin that is when the price would rise with more ease and reach $50k. It could take a couple of weeks though.

People keep saying Elon Musk and Tesla were the reason for the rise but it wasn't. It was just an excuse to punish these shorters. But now they are once again shorting bitcoin to make up for the money they just lost. They need another punushment.
8089  Other / Beginners & Help / Re: [Full Guide+Code]Seed Phrase & The Process of Deriving Bitcoin Addresses from It on: February 11, 2021, 05:41:49 AM
But the standard was proposed by the people behind Trezor wallet and they wanted to use this as the mechanism against brute-force.
I believe the main purpose of this "extra word/phrase" is to be able to create more than one wallet from a single mnemonic and add "plausible deniability" (not for security).
For example in case the user was forced to reveal their mnemonic or hand over their hardware wallet the device could produce a default wallet (without the extra word) that is either empty or has a small amount to fool the thieves while the same wallet with the extra word has the actual (bigger) balance.
This is also pointed out in BIP39
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The described method also provides plausible deniability, because every passphrase generates a valid seed (and thus a deterministic wallet) but only the correct one will make the desired wallet available.
8090  Bitcoin / Bitcoin Discussion / Re: Destroying Bitcoin on: February 11, 2021, 05:09:25 AM
People who are in bitcoin to make money (more fiat) and would hate bitcoin if its price goes down are better hate bitcoin sooner than later and  then make their exit because they don't even know what bitcoin is and they don't care about it at all. Instead they care about fiat and want more of it.

Bitcoin won't be destroyed if its price dropped, even if the drop was significant. However bitcoin will be damaged the more idiot users it has who only care about their fiat profit!
8091  Bitcoin / Bitcoin Discussion / Re: Bitcoin Energy Consumption Future Plans/Thoughts on: February 11, 2021, 04:55:42 AM
What you are pointing out has nothing to do with bitcoin because bitcoin or more precisely bitcoin miners are simply consumers of the electricity not the producers of it. How electricity is produced (renewable energies, less polluting methods, ...) is up to the electric companies.
8092  Bitcoin / Wallet software / Re: Best bitcoin wallets on 2021 [Andriod] on: February 11, 2021, 04:41:55 AM
I suggest adding Coinomi to your list.
As long as you also warn people that Coinomi is a 100% closed source wallet that has been acting shady in the past and we don't know what they do to the users' mnemonics and other information even today.

Comparing to similar wallets there are more Electrum fake version.
That's just because Electrum has far more users than any other wallet, so there are a lot more targets.
8093  Bitcoin / Wallet software / Re: Desktop Wallet on: February 11, 2021, 04:17:37 AM
I can create different wallets for family members
This may not be the best idea. It is always better to separate wallets of each person and hopefully on a separate device. One mistake made by one person would mean a big loss for everyone. For example if one of them updated the wallet to a malicious one by mistake you would all lose your bitcoins.
8094  Bitcoin / Development & Technical Discussion / Re: Bruteforce partial electrum seed words on: February 11, 2021, 04:04:47 AM
The "library" I'm using for testing the validity of the mnemonic itself should not be too bad, it's the "to_entropy()" function from the Trezor "python-mnemonic" code: https://github.com/trezor/python-mnemonic/blob/master/mnemonic/mnemonic.py#L125
That's the problem with using a library to brute force, they are not designed to be the most efficient. They are just optimized to perform one operation in reasonable time. From a quick look this part is being repeated pointlessly and it has obvious expensive processes such as the memory lookup even if it is a binary search, the conversion between the words and bits, working with strings, unnecessary checks,...
https://github.com/trezor/python-mnemonic/blob/master/mnemonic/mnemonic.py#L126-L156

What you want to do is to first convert all your words to their binary representation without having any memory issues.
13 file * 10 word each * 4 byte to hold bits = 520 byte total
Now you create the permutation of these bits and compute their hashes. Working with integers is significantly faster than working with strings.
8095  Bitcoin / Development & Technical Discussion / Re: BTC can only get better: introducing the Smart Network on: February 11, 2021, 03:50:05 AM
the security of the network depends on the inefficiency of the network (which is unsustainable).
Having a high cost to perform a certain type of attack doesn't mean the system is inefficient.

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but sooner or later the network's hashrate will drop and it will then be possible for someone with a bit of hashrate to reorganize the block chain
That is your assumption and can only happen if the bitcoin price drops significantly and stays low. Something like dropping down to $500 and staying there in which case your other statement is also wrong because it would cost a lot less to acquire 51% of the total supply too:
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I propose someone would need 51% of the current supply to take over control
8096  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: FreeWallet locked even Elon Musk. I still don't trust them. on: February 10, 2021, 09:09:40 AM
In the bright side, locking the account was the right thing to do. In case it was not the real Elon Musk? At least now there are no doubt left.
Elon may be trolling them and may not even have any accounts with this company. It is hard to believe someone who claims to believe in bitcoin for such a long time is using some poorly created web wallet for his billion dollar worth of bitcoins!
8097  Other / Beginners & Help / Re: [Full Guide+Code]Seed Phrase & The Process of Deriving Bitcoin Addresses from It on: February 10, 2021, 07:52:51 AM
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Password-based Key Derivation Function 2 (or PBKDF2) is used as a security measure in the process. This function makes the computation of seed creation slow hence reducing the vulnerability of brute-force.
It really doesn't do that.
PBKDF2 is already a very weak key derivation function by design and using a very low iteration count (2048 instead of 10 million) isn't going to slow anything down either. In fact under the hood you are just computing about 4k HMACSHA512, suffice it to say that your CPU can compute millions of SHA512 in a second.

What people refer to as "increases security" is the passphrase that is used in BIP39 which I always argue that it cannot be considered a true security measure again due to weakness of the used KDF and the fact that there is no minimum size set for the passphrase and users aren't known for using strong passwords.
8098  Economy / Speculation / Re: FUDS are big Confirmations that were in a Bull Market!!!!!! on: February 10, 2021, 07:06:15 AM
Expect more FUDS so the rich dudes can get in cheaper and hop on the btc train  Roll Eyes

I'm guessing we will get Tether FUD once BTC reaches 50k or 70k to correct it down to 40k again.
I'm not sure about this, because everyone learns from the past. There are so many people who sell their Bitcoin at cheap price and now, they realize that bitcoin can survive and growing and they will not fell into the same trap. But I think newcomers still a lot and fud will affect to them
What's there to doubt?!
Have you forgotten what happened last month? That's not ancient history Wink
They started spreading FUD and manipulated newbie weak hands to eventually crash the price from $42000 all the way down to $28800. That is 31% drop in 13 days. I don't know of any better evidence than that which clearly proves there are still a lot of newbie weak hands who fall for FUD and sell their bitcoins cheap.
8099  Bitcoin / Electrum / Re: Electrum and change addresses on: February 10, 2021, 05:56:26 AM
* will it add change addresses to my wallet?
Yes. Change addresses are derived similarly as any other addresses from your mnemonic (seed phrase). There is a derivation path depending on your address types such as m/0'/0/0 that Electrum uses to get your main addresses and it changes the last index to 1 for change addresses meaning the path becomes m/0'/1/0 for the first change address.

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* can I use one of my existing addresses as a change address?
Technically there is absolutely no difference between a change address and "main" addresses in your wallet. They are all similar addresses of the same type with private keys and all derived from the same seed. The only difference is their "category".
8100  Bitcoin / Bitcoin Discussion / Re: Bitcoin Vs Future? on: February 10, 2021, 05:32:03 AM
darkest days of BTC
What do you mean by that? You think when price drops it is the "darkest days"? It is actually quite the opposite, for instance when price went down as low as $3k a couple of years ago it was the best day in bitcoin world because you could buy bitcoin at a MASSIVE discount.

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most of the world is accepting the cryptocurrency payments and some lager brands are also connected to the BTC world.
Most? I don't think so. There is still a very small percentage of the world that have accepted bitcoin.
Cryptocurrency? Not at all. They only see bitcoin and some investors may take a look at altcoins.
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