Non of our concern of which one is more susceptible to 51% attack, bitcoin that uses PoW was created in 2009, we are in 2020. Which means bitcoin is now or will soon be 11 years old. All these time, nothing happened to bitcoin. With the hashes generated by bitcoin miners, bitcoin can not be susceptible to 51% attack.

It is proven beyond doubt, how bitcoin blockchain is the strongest and most secure as it generate the highest hashes.

Be it PoW or PoS, 51% attack can occur if and only if miners mining such particular coin has decreased in number in a way the blockchain is prone to being compromized by hackers. Which means what such link is implying is totally wrong and misleading.

If you really want to know about bitcoin, you can go for mastering bitcoin. But there are many other books that are good about cryptocurrencies. Check below.

https://bitcointalk.org/index.php?topic=5238586.msg54174185#msg54174185

Nice article, and I hope people that are novice will start to liking bitcoin as soon as possible. Some people call bitcoin ponzi, while some people are so ignorant to call bitcoin scam, it will be better for them to wake up and know the real ways bitcoin can make them rich. Also, I like the fact you mentioned that people should know about it very well before investing so they can make profit from it.

It will be good if you can edit and add bitcoin as a deflationary currency. That is why its price is increasing with the limited supply and increasing demands.

This is why I like bitcoin, it is not regulated by any central body, it is completely decentralized and its price is determined by total number of people that buy and sell it.

There are many other ways to buy bitcoin, as for me, I prefer p2p exchanges, and I like exchanges that require no kyc, you can check the link below.
https://bitcointalk.org/index.php?topic=5224711.msg54697812#msg54697812

Also is the use of bitcoin ATM, but not yet so common, but the rate of its adoption is increasing.

I understand how you feel, but it is because you do not understand about bitcoin, how will you pay 30% (transaction) mining fee and it takes more than 15 minutes for you to receive your bitcoin in your wallet, this is not possible. Instead of banks, you can buy bitcoin using p2p exchange if you need privacy.

Know that bitcoin is not anonymous, but it is pseudonymous, it can work in a way no one will be able to link your bitcoin transaction to your identity. You can try and buy bitcoin using mycelium wallet, there are many p2p exchanges you can purchase without kyc. You can then send from mycelium to your betting site of your choice. Youu can send as low as $0.1 or less as fee if well planned.

It is just because you are getting things wrongly about bitcoin.

You are right. On electrum wallet, the first transaction after wallet download will display the fee before sending bitcoin. After making the first transaction, it will not display the fee anymore while sending bitcoin. But, for every transaction, the fee can still be edited. Unlike some other wallet that will always display the fee before sending.

What I noticed about lightning network is that people are not using it, it is not really encouraged by developers. I remember segwit protocol was even created a year after segwit was creeated, it was proved and tested to be sucured and now used as default address for most bitcoin wallet. But lightning network is not really supported, maybe because it is not yet well proven to be secure.

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I recently read about an attack that is very possible using lightning network address:
https://www.google.com/amp/s/www.coindesk.com/bitcoins-lightning-network-is-vulnerable-to-looting-new-research-explains%3famp=1

The 'Loot'
You might be able to see where this is going. Attackers take advantage of the blockchain congestion and pair it with exploiting the HTLC deadlines.

The attack relies on the bitcoin blockchain being filled to the brim with transactions so that no more can get through. The attacker hopes he or she can push the contracts past the built-in deadlines. If successful, the attacker can begin to “loot” the expired contracts.

“By attacking many channels and forcing them all to be closed at the same time […], some of the victims’ HTLC-claiming transactions will not be confirmed in time, and the attacker will steal them,” Harris explains in the blog post.

The researchers ran simulations on a test Lightning Network with dummy coins to test how feasible such an attack is.

In short, each closed channel results in one more transaction being pushed to the Bitcoin blockchain. The attacker will attempt to simultaneously close as many channels as possible to increase the number of transactions sent to the blockchain, increasing the chance of success.

Using their simulations, the researchers found that attacking 85 channels at once was enough to “guarantee a successful attack.”

Harris notes an attacker targeting 100 channels leads to a reward of “at least” 7402 HTLCs, with the average HTLC today holding about $138 worth of bitcoin. That could mean a payday of roughly $1,021,476.

They also found that, as expected, less block space leads to a higher attack success rate because an HTLC is less likely to go through before the deadline.

Finding “potential victims” was also eerily easy. In the simulation, the researchers found it wasn’t hard to set up channels with other users. Indeed, 95% of Lightning nodes accepted their invitations to set up a Lightning channel.

Jona Harris and Aviv Zohar say:
The researchers argue the attack is systemic and “eliminating the risk entirely seems to be a complicated task.”

That said, Harris suggests several strategies for solving the problem, or at least ameliorating it if the issue can’t be stomped out entirely. One is increasing the HTLC deadline so it is easier for a user tp counter the attacker via the Bitcoin blockchain in time.

You can read the full news on coindesk
https://www.google.com/amp/s/www.coindesk.com/bitcoins-lightning-network-is-vulnerable-to-looting-new-research-explains%3famp=1

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What I think about it now is that lightning network is not yet developed, it can one way or the other be susceptible to attack.

This is what I am implying, the past should be a lesson for the governments to know the right step to take in order for such viruses and bacteria not to breakout like before again, all preventive measure must be taking. There are a lot we humans must put into place that we are lacking. Not only depending much on one aspect like vaccine creation. Also, like I implied above, prevention is better aspect of life than cure, but cure should be the alternative.


You are right about this. Also, the vaccine may not even be the weakened form of the virus, it can be another similar virus that cause less negative effect. For example, covid-19 is a Coronavirus but the Russian vaccine is prepared from Adenovirus not weakened form of Coronavirus. But, weakened form of Coronavirus can also be used and have positive results (maybe). But that does not still change the fact for the governments to focus more on natural immunity and preventive measures.

I have just downloaded the Casa App, no private key given, no seed phrase. And being custodial, no 2fa authenticator. It is nothing to be compared with hardware wallet, if I have no enough funds to buy hardware wallet, I will go for airgapped device. For convenience, and having no money to buy hardware wallet, I will go for bitcoin electrum wallet or bitcointalk recommended reputed noncustodial wallets, I will be able to have access to my keys, control my bitcoin by myself and also will be able to recover my bitcoin using my private key which unlock the funds from bitcoin blockchain or through seed phrase that can have access to my private key.

Also that said, Casa also makes use of google cloud for encryption and storage of wallet backup, this is wrong to me, anything that goes to google cloud is not safe for me again because google is a thirdparty. I prefer to have my wallet backup written on laminated paper or on metallic sheet for safety purpose. The backup will be with me, and I trust my self than google cloud.

Pay to script hash (P2SH) is the old nested segwit= 3-prefix addresses
Pay To Script Hash Pay To Witness Public Key Hash (P2SH-P2WPK) is the new segwit = M-prefix addresses

The 3-prefix address was old format, and similar to bitcoin nested addresses. People are mistakenly sending bitcoin to the 3-prefix address type. Litecoin developer later created M-prefix addresses. It has the same private key with 3-prefix addresses, and there is nothing to worry about. You can use the above converter to convert it from 3- prefix to M-prefix addresses. But most litecoin wallet are using M-prefix addresses which is the new address. But some exchanges can still be using 3-prefix addresses in which you can convert the 3-prefix to M-prefix type which is better to avoid confusing the address to a bitcoin 3-prefix (P2SH) addresses.

I think what Jet Cash is implying is that the the world is moving from olden natural food era to modern processing food days, in addition are what we are now exposed to that we are not exposed to before. That, these are affecting our immunity. That the world are diverting much more towards drugs and vaccines. Why don't they also focus more on ways to prevent disease by researching more on the use of natural food to feed and also reducing the environmental toxic chemicals that could have long term side effects on our health.

The nested segwit can be of two types.
1. P2SH:- addresses that start with 3 (old addresses)
2. P2WPK(P2SH-P2WPK):- addresses that start with M (new addresses)

You can convert between the standard 3-prefix P2SH address format to M-prefix, you can use this open source tool provided by the Litecoin Foundation: https://litecoin-project.github.io/p2sh-convert/  The source code can be viewed here: https://github.com/litecoin-project/p2sh-convert. The converter can also run offline for safety reasons.

Most wallets can be using the new (P2WPK) (P2SH-P2WPK) litecoin nested segwit addresses but some exchange may still be using the old (P2SH) format. And you can easily convert from 3 (P2SH) types of lite coin addresses into the M (P2WPK) (P2SH-P2WPK) type.

Corresponding litecoin 3-prefixes addresses have the same private key with the corrsponding M addresses. You can use the converter above to convert from one to another. It is completely open source.

The reason for the convertion is to minimize the confusion of bitcoin nested segit address that start from 3 with the litecoin segwit address that also started from 3. So the litecoin addess that start from 3 is converted to litecoin M address.

To know more about this, you can read the content from the link below:
https://cryptofacilities.zendesk.com/hc/en-us/articles/360006040974-Litecoin-Address-Format

Although, you are right. But the point is that Spanish flu killed people more than covid-19 and is still regarded as the deadiest pandemic disease as of today. Also, what I am just trying to drive out is for governments to stringently focus on how disease outbreak can be prevented before resulting into pandemic disease. It has happened in the past, it is happening now, and there are possibilities of disease pandemic period in the future. That, this should be a lesson towards pandemic disease avoidance.

As I was reading the BBC news today, I read about 1918 spanish flu, this flu was deadlier than covid-19, this is the summary:

https://www.bbc.com/future/article/20200302-coronavirus-what-can-we-learn-from-the-spanish-flu
One hundred years ago, a world recovering from a global war that had killed some 20 million people suddenly had to contend with something even more deadly: a flu outbreak.

The pandemic, which became known as Spanish flu, is thought to have begun in cramped and crowded army training camps on the Western Front. The unsanitary conditions – especially in the trenches along the French border – helped it incubate and then spread. The war ended in November 1918, but as the soldiers returned home, bringing the virus with them, an even greater loss of life was just around the corner; between 50 million and 100 million people are thought to have died.

The world has suffered many pandemics in the years since – at least three serious flu outbreaks among them – but no pandemic has been as deadly, nor as far-reaching.

Doctors have described the Spanish flu as the “greatest medical holocaust in history”. It was not just the fact it killed so many, it was that so many of its victims were young and healthy. Normally, a healthy immune system can deal reasonably well with flu, but this version struck so quickly that it overwhelmed the immune system, causing a massive over-reaction known as a cytokine storm, flooding the lungs with fluid which became the perfect reservoir for secondary infections. Older people, interestingly, were not as susceptible, perhaps because they had survived a very similar strain of flu which had started to spread through human populations in the 1830s.

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Corona virus has never been the first pandemic disease, and it has never been the deadliest, the deadliest was Spanish flu that claimed over 50 million lives when people traveling through the air has never been so common like these days, I am just wondering this should have been a lesson why the world should respond fast to any disease outbreak, closing border from citizens of such country that are spreading the disease and doing all possible best to help eliminate the disease.

So far there are pandemic diseases in the past, there could also be pandemic diseases later after covid-19, the goverments of each countries should not be lenient about any viral outbreak again, be it epidemic or pandemic, all measures should be in place in order to easily extinct the virus away from earth.

I believe covid-19 will later extinct too but this should be a lesson. Prevention is better than cure, and could save more peoples lives. There should be other professional and medical ways of preventing diseases to spread.

In addtion to what LeGaulois commented, wallets only store the keys (private keys and public keys). To access the bitcoin on blockchain, you need to have private key to a corresponding address(es) on wallet to unlock the bitcoin on blockchain. I hope this is clear.

Cryptocurrencies are digital currencies, example is bitcoin. Not a way to transfer or hold money.

Cryptocurrencies are not ponzi, you are right. Some new projects can be scam. But strong cryptocurrencies like bitcoin are not scam and are not ponzi.

1. Making you video of high quality will be good.
2. You also need to address the issue of scammers, how people can protect their wallet from hackers, how to sight crypto scam and avoid. You should iterate and reiterate about scam.
3. Technical parts like choosing the best wallet is necessary.
4. Let them know about p2p, kyc, custodial and noncustodial exchanges is necessary.
5. Also emphasizing how kyc can be extremely dangerous.
6. Let them know about phishing and dust attack and why need to be careful
7. You need to let them know the trading and investing aspect. And how trading aspect could be risky.
8. Also let them know about mining and how it is in the recent time.

You are right, but it is not all about creativity, if newbies are serious, know about bitcoin and cryptocurrencies including many intersting section of this forum, he will be able to comment to topics created by other members, with this, other members will noticed him and award him merits

This is correct, but many newbies do not want to accept mistakes, I saw on a forum today that ranked members on bitcointalk are just one sided, if a newbie in such inferior quality forum compared with bitcointalk can post such stupid content, how would such people be on this forum and rank up, it is not possible. I too was corrected when was new here, although I was pained, but I accepted it, it strengthen me on this forum to be where I am today.

This forum condone only and only authentic posts qualities. No spamming, no plagiarism, no low quality posts will be condoned. This forum are not for shit posters.

Lastly, we should still pinpoint the fact that we are talking about people that want to rank up on this forum, but this forum is not about ranking up, it is about sharing useful information, especially about bitcoin and other cryptocurrencies. Everybody are accepted on this forum, because some people can be here just for services rendering and/or to ask question(s).

So sorry for your loss, it is not only about contacting paytoshi now, paytoshi is long gone, it is about contacting specifically the person that has the private key of the bitcoin address you sent the bitcoin to. Which means, it will be hard to get your bitcoin back. Although, mistake could happen, but next time, try to check the address you are sending your bitcoin to, also check and recheck the address to be 100% certain of the recipient address.

Also know that any wallet that seem custodial, in which you have no private key to access your bitcoin on blockchain, it means the private key is managed by another party which makes it custodial, it makes you not to be the owner of the bitcoin on blockchain.

Also, transaction is not reversible. Which means your coin is gone. So sorry about this.

I believe from the above diagram, you can easily get how the attack could be possible.

https://www.tripwire.com/state-of-security/featured/drovorub-malware/
The agencies say that the Linux strain malware has been developed and deployed in real-world attacks by Russian military hackers. The FBI says, “The Russian General Staff Main Intelligence Directorate (GRU) 85th Main Special Service Center (GTsSS) military unit 26165, whose activity is sometimes identified by the private sector as Fancy Bear, Strontium, or APT 28, is deploying malware called Drovorub, designed for Linux systems as part of its cyber espionage/spying operations.”

Preventative mitigations
Apply Linux Updates
It’s going to sound like a broken record, but sysadmin’s should continually check for and run the latest version of vendor-supplied software. Keeping updated software enables the user to take advantage of software advancements and the latest security detection and mitigation safeguards. Most importantly sysadmin’s should update to Linux Kernel 3.7 or later in order to take full advantage of kernel signing enforcement.

Prevent untrusted kernel modules
System administrators are advised to configure systems to load only modules with a valid digital signature making it more difficult for an actor to introduce a malicious kernel module into the system.

You can also use the link to know how to detect the malware, but following the above preventive measure by software update is necessary.
https://www.tripwire.com/state-of-security/featured/drovorub-malware/

You are right, but for new traders. Trading require professionalism, no matter how new trader begin, no matter how good they think they are, they will always lose until they have experience about trading. It is best for beginners to use funds they can easily afford to lose, but not for experienced traders


You idea is also still good for newbies, but for professional traders, there are times the market will favour them after small losses. That is why it is good to use reliable cryptocurrencies like bitcoin for trading. If you know how to use the indicators like RSI, you will understand what I am implying. There are still many other indicators that are important, relative moving avalerage, exponential moving average and bollinger bands are all important indicators too.

Professional traders still even lose but their profits are more than their losses. They also trade with right mindsets unlike new traders.

Legal mining companies and people are paying for the electricity energy their miners are consuming, the power supply is not for free, even many people working in electricity company are even happy because the more the miners, the more the electricity usage, while the more the money that will be generating. You can not compare electricity generated in a village to the ones generated in a well developed city, the more light generated in advanced country like China, the more people will be employed in electricity companies. PoW really helped.

In addition, as for centralization, ethereum 2.0 PoS will be more centralized than using PoW as anybody not having 32 ETH will not be included in the mining aspect. And this may still later results to PoS mining pools.