Electrum is not more secure than core. That's a misconception you have.
100% certain. I am not saying electrum is safer than bitcoin core, all i meant was that it is a full client wallet and need more memory space for whole bitcoin blockchain download. That aside, bitcoin core is the most secure and the original bitcoin wallet for computers, it connect users directly to the blockchain. And thanks for your corrections. |
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Next, we have the features you are want to have if this is a supported by the Bench32, Segwit or just the legacy address.
I want to correct this, it is Bech32, also know that segwit wallet support both P2SH (compatible) and Bech32, but it does not support P2PKH (legacy) bitcoin address. But people like Bech32 bitcoin address because transaction fee is lower. Now according to the answer you are given to them, they will now recommend the best wallet that is suitable for your needs.
Now, this is the wallet they highly recommended to me as a desktop and window os user.
I hope this will help to the newbies would like to find the best wallet for them.
I like bitcoin core too, it is a full client wallet, but not good for beginners as it needs more memory space and subsequent backup of each addresses used to receive bitcoin, it is a secure and safe wallet but the device used for it must be free of malware. As for me, I prefer electrum wallet just for the security sake. |
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as bob123 mentioned an ATM is not 100% private.
you can have more privacy buying on p2p and using a mixer like blender or chipmixer (or if you're buying eth using tornado.cash)
if you buy on exchange + mixer you'll already have more privacy than buying on an atm.
Using your suggestions are also good, p2p exchanges that have no contact with your personal details will be fine but know that bitcoin ATM is 100% private, although depending on the amount of bitcoin you want to trade. Trading $5000 that your pocket can contain is good, just go to bitcoin atm and do your transactions with ease, no personal details is collected and privacy is of highest level. |
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You also can't blame other users for why they are under KYC. You cannot convert your crypto to fiat without the help of third-party apps services that require your Identity information. We know that people have different purposes when it comes to using crypto. Others consider crypto as a currency as a fiat that they can only say is worth it when it is spent. Not all items can be purchased using crypto due to the limited merchants receiving payments using it. Although online merchants that already adopt crypto are also centralized, you can rarely find a fully decentralized so there is really no other choice but to get KYC to make the most of your crypto.
Did you check what o_e_l_e_o posted above, you can check it below. I am very sure bitcoin atm can be used to completely buy or sell without any identity given or noticed. I am not sure of p2p exchanges but with what o_e_l_e_o explained, there are p2p that do not make use of identity for buying and selling of bitcoin. As someone who only ever buys and sells bitcoin without linking the trades to my real identity, and refuses to use centralized exchanges or complete KYC at all, it is much easier to trade privately than it was a few years ago. There are more options for buying bitcoin privately than there ever have been before, such as Bisq, Hodl Hodl, LocalCryptos, this forum, direct peer-to-peer trades, some ATMs which don't require KYC, physical shops and vendors, and so on. These kind of services are only becoming more popular as time goes on, as more people wake up and start to realize why their privacy is important. As long as bitcoin exists, there will exist decentralized trading options which cannot be shut down by governments or third parties.
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I don't see ETH on the list which I believe it is most likely to be in the line than the other altcoins.
Bitcoin may increase in price, it is still certain that ether will follow if such happens. I do not still believe in other coins, I always prefer bitcoin, it is still good to analyze than other coins and not volatile like altcoins. When I noticed its price fall it $9010 yestersday, I noticed it was showing support and this has happened two or three times now, I will say it is a good time to buy. Also, we should be mindful of the $10000 resistant, which has happened three times now to know the perfect time to sell or not. I like to predict in my way but it could go otherwise. |
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Stable coins are only a relative term. Stable coins, in theory, must be backed by something considered widely as stable asset, like fiats, golds, and any precious things. Unfortunately, fiats, gold, precious things are not truly stable. They are usually stable but sometimes, they are volatile like what we see price of gold. Fiat currencies are a big joke, and they are only stable on the paper desk, in theory. In countries with hyperinflation, fiat currencies are not stable. One fiat currency is stable today but it will be a trash paper next 6 months.
No fiat currency is stable today, even dollar is not stable. Also, you have said the reason why stable currencies can not be backed by fiats, gold or any other stock. Stable currencies are not fiats or gold or any stock and cannot be backed by them, they are like unstable currencies that are not backed by anything, only difference are the prices that are not volatile but relatively stable. Stable currencies should not be backed by anything than increasing or decreasing in the stable coin supply in relation to the demand and selling of the the stablecoin in a way to maintain relatively constant price. |
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Even when there is no special incentive when community is healthy and has an open approach to each new member it is easy to participate and have fun while learning or just having a random conversations.
About the learning aspect, you are totally right and not wrong at all, like I remember when I joined this online community, I did not know anything about bitcoin, I did not even know anything about cryptocurrencies, but now is so different, I have gained by learning from the threads on this forum, the threads are many and I am always still learning, and this makes this forum best for me. |
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I didn't know they took time and worked diligently to earn their various positions. I received my first merit, I kneww I had to work more to earn myself their position.
I do say one thing, this forum is not for lazy people, the purpose of the forum is to learn and contribute to learning, but the forum respect people that have contributed to learning which is appropriate because they worked hard to be where they are. I wasn't shy to ask questions even if feels I was being stupid, I never felt it. I want to sincerely thank the experienced members for always answering our questions.
I noticed one thing about this forum, ranked members like newbies to first ask questions, even some questions can be given merits. If there is any question newbie want to ask, experienced ranked members are ready to answer even respectfully. So far you have known more about this forum, if you have more quality and authentic posts with no falsifying or misinterpretation of right/appropriate information, you will surely rank up. But to newbies, I will always advice them not to be arguing with ranked members, because ranked members here knows a lot they do not know. |
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OmegaStarScream has answered you all, seed phrase is not for recovering bitcoin from one wallet to another wallets frequently, using it on another different wallet is not also advisable, use the seed phrase only for recovery of the same wallet on another device is better and also should be during theft or damage or when changing device, not for fun sake. Not that you can not use seed phrase to recover on another wallet of different type, but you have to make sure the new wallet you want to input the seed phrase support the derivation part of the old wallet. Question 4: how come I can choose which address to use to receive money but I cannot choose which address to use to send money? If it automatically uses the main one, the receiver will be able to see my balance, no?
It is not advisable to use one (main) address, using wallets that can generate new address automatically for each transaction is better, new address will also be generated automatically while sending, this is to maintain high level of privacy. So, you do not need to bother choosing which address you want to use to send as the address will change for each transactions automatically. If it automatically uses the main one, the receiver will be able to see my balance, no?
Any amount of bitcoin sent to a single address can be traced/tracked, if you are using only one address to send or receive, that means all bitcoin sent through the address can be traced, but your balance can not be seen only some kind of malware can do this.
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That said, you think Electrum is the best wallet (besides the cold ones)?
For saving bitcoin, electrum wallet is one of the best, but you too have to use it carefully, there are malware that can hack electrical wallet, avoid unknowingly installing malware and you are good to go. As for me, I like only one bitcoin mobile wallet, it is electrum. Be careful of your seed phrase, so far too use electrum, it will be advisable to only use another electrum wallet for recovery in case as it will not deny you of you seed phrase, it will always use the same derivation part. As for hardware wallet, they are one of the safest but that does not mean electrum wallet is not good, but if you have money to get a good hardware wallet like trezor one or ledger nano s or x, them tou are good, but no wallet is 100% safe until you yourself is so careful, also, hardware wallets support many cryptocurrencies. |
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SO, based on this, is the scammer able to receive my bitcoins without the bitcoin address?
Do they send you bitcoin QR code or address to send to,? They would, because this is what you will use at the bitcoin atm for the payment, if you have sent the bitcoin to such address, that means your money/bitcoin has gone. Is there any possible way for me to retrieve the bitcoins without the address?
It is not possible, you need to have a bitcoin address you will send the bitcoin to. And if the address you send to is owned by you and you have not send to the scammer addresses, then you are still safe but I think you have sent the bitcoin to scammer bitcoin address. If so, is there a way to exchange my bitcoins back to normal currency?
Yes, if the bitcoin is in your wallet (not scammer wallet) check if the bitcoin atm is able to dispense cash, not all but there are some bitcoin atms that can dispense cash. You can also trade the bitcoin for cash using exchanges, I like p2p exchnges for this, but be careful of scammers. I can suggest you localbitcoins. The question is, while using the bitcoin atm, did you send the btc to the scammers by any bitcoin address or QR code given you? If yes, the money is gone. It is one of the scam tricks, they can even use another tactics like telling you to buy giftcards and sending it to them, that is why some people will go to buy giftcards with panic not knowing all is a scam. |
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1. Is my opinion right about privacy?
2. Is it possible hackers can become a thief as technology is advancing or even now, know your custodial wallet or exchange and use the custodial wallet or exchange to know who exactly you are, come to your house one day just to come and forcefully steal your bitcoin? To me it is possible and I will always like privacy.
3. What is the best way to privacy? I will choose bitcoin ATMs
1. You are right about privacy, but to fully maintain 100% privacy seem almost impossible, while using p2p exchnges, you will still need to register your account number on most exchanges or means you will use for the payment. If through meeting people is another p2p, so far the person know you, it is not private again. I am not diluting the fact that p2p exchnges are excellent but I will prefer using crypto atms. While using crypto atms, no camera like bank atms to video, your transaction is so private and I will also suggest it to be the best. 2. There is nothing impossible, and that aside, this can subsequently leads to phishing attacks be it through email or impersonation. 3. Like you have suggested, bitcoin atm is the best but only few are available in the world for now. |
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On hardware wallets, private key is generated offline, public key is used to generate addresses, this is done in a way that private keys can not be compromised or revealed to hackers even while sending or receiving funds Hardware wallets are created in a way they are malware resistant but it is still good to be careful of the malware as they can change addresses during transaction, as for me, I check and recheck the address I inputed before initiating any transaction. For bitcoin storage, I prefer airgapped devices, they are the safest as they generate private key offline and no connection at all to the internet. A good example are the two electrum wallets I use, one as airgapped(only for signing transaction through the use of QR code and private is completely offline) and the other one as a watch only that generated the transactions to be signed using QR code. HD wallets are deterministic ones and from a single seed, you can create many private keys and from a seed you can create many child keys, then grandchild keys. They don't require to have private key to create public keys. It is the point to save you if your computer is compromised. Hackers will not be able to steal your all funds if they can not have access to your private key.
There are many HD wallets that are not hardware wallets, there are online/hot wallets that are HD wallets in which private keys are not generated offline and can be hacked. |
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What can defeat a Quantum computer is a Quantum computer itself , therefore my idea might seem vague but I do think we can get there, what would be needed :
Bitcoin uses two algorithms: 1. Hash function algorithm used for block creation 2. EDCSA ( elliptic curve signature scheme algorithm) used for public key generation. As proven by programmers that hash function algorithm can not be compromised by quantum computers but EDCSA algorithm can be compromised in a way public keys can be used by quantum to reveal and compromise private keys, that is the issue on ground. There is a need to create a quantum resistant blockchain either from scratch or built on top of bitcoin blockchain, there are some blockchain today that is quantum resistant. This is possible but needs advanced programming knowledge, so advanced programming without the use of quantum computers can create layers that are quantum resistant. The below link is useful to read https://www.google.com/amp/s/cointelegraph.com/explained/how-the-crypto-world-is-preparing-for-quantum-computing-explained/ampThey mostly would be used for the pharmacists , chemists and other sectors , using them to hack wallets ?? Not so sure.
We are humans, it is very possible it can be used to compromise private keys and be used to compromise wallets or steal cryptocurrencies that uses EDCSA algorithm. Therefore I do believe that we have 10 more years to improve the cryptocurrencies , to improve the blockchain.
Maybe even we can integrate Quantum mechanics in the mining machines ? It would be financially not a right step but for people and companies who can afford , they will be able to make it way more secure than anything.
This will be too expensive, miners calculate before mining, they even buy ASICs becasue they know it is profitable, using quantum computer to mine will be too expensive and will surely discourage miners, so not possible. The best is to create quantum resistant layer or build one from scratch. this way we can even reduce the time of sending Bitcoins from one wallet to another, without compromising the security.
Bitcoin is set to have an average of 10 minutes for a transaction to be successful, there is no need for quantum computer for this, even as mining hashes are increasing, the transactions time will be reducing but this is corrected in every two weeks in correlation to the total hashes generated in such a way bitcoin transaction time will be 10 minutes on average. |
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Seems that you don't know how tether transactions work. Tether doesn't have its own blockchain and is sent through three other blockhchains. 1. BTC (Omni layer) 2. Ethereum. 3. Tron Take a look at following thread. It may help you. It's a similar case posted a few day ago. Sending USDT to BTC address. The link was so helpful and helped me understood more about tether and the three blockchain you can use to send it. Even, if the person send through ERC-20 and Tron blockchain, so far the wallet the tether is sent to is noncustodian in which private key for bitcoin, ether and tron can be accessed, the person will definitely receive the tether sent using the respective (bitcoin, ether or tron) addresses. Hope i am right? That means ETFbitcoin is right, but if sent to a wrong address in which the sender do not know who he send the tether to, the transactions can not be reversed. |
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Recovering your USDT is possible if :
1. You know who is the owner of that BTC address (will referred as "the owner")
2. The owner have knowledge how to access USDT from his/her BTC address
3. The owner is willing to take possible risks when accessing USDT (such as copy/paste private key to different wallet)
4. The owner is willing to help you
If the owner is exchange and you only send small amount USDT, it's very likely they won't help you.
It is not possible. It is possible if he send to wrong address of the same cryptocurrency and if he knows the receiver and the receiver is willing to help but if the receiver is not known or not willing to help, then it is not possible. For example, sending btc to a btc address, or sending tether to a tether address. And I iterate again, this will not be recovered if he does not know the owner of the address as you have said.But the case now is different, he sent tether to btc address, just like when a friend of mine sent litecoin to btc address, the fund was completely lost and the transactions got complete confirmations. In this case, the owner of btc address that he sent tether to will neither receive any confirmation nor any payment. https://tether.to/deposit-of-wrong-tokens-or-wrong-addresses/Tether does not offer a token recovery service for deposit mistakes (e.g., deposits of tokens not supported by Tether or tokens sent to a wrong address). |
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Recently i fund some really old (i think from 2014 when blockchain.info started) mnemonic (passphrase)
Mnemonic phrase are not passphrase, passphrase are passwords used to protect seed phrase, and to every passphrase generated from the same seed phrase, a different seed is generated. As for the question, I am still new to wallets and BIP but with all your explanation, you have nothing you remember to even recover back the wallet, no email, even the phrase is not remembered, you may not be able to recover back your wallet unless you did the private key backup. If you did the private keys backup, you will be able to recover back the coin using the private key on a newly created bitcoin wallet. |
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Sending from btc to tether or any other currency addresses will make the transaction irreversible. If the transaction has no confirmation already it is still likely possible to reverse it but ones it has been confirmed by a miner (1 confirmation) it means the transaction has been propagated already into blockchain network, and the transactions will be lost because no address will match the address you sent to in the blockchain.
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Ensure to click the padlock icon to verify the security details.
Ensure all sites are https means the padlock will be locked and that the connection is secure but very possible the sites itself to be scam is not ruled out, they can actually be scam. But you are right, the connection to the site is secure and contain no malware, so the information is useful. |
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Trading has been a bitter sweet lesson for me. In that time, I've had my own fair share of wins, losses, regrets and lessons. Trading the crypto markets has taught me how to keep up in a fast paced environment. I may not be an experienced trader yet, but I know I can surely improve. Trading in a live account beyond both paper trading and demo trading. You're faced with difficult situations without a clear head way in sight. The lessons have taught me a whole lot (majority of which can be applied to real world situations) – like the fact that I shouldn't be too quick to make certain decisions.
I've been in situations where I panicked and sold too soon or in situations where I got a greedy hoping the price of a coin will continue pumping for everywhere. Now, whenever I see an opportunity – on the chart or reality, I grab it with both hands.
Trading is not only about knowledge but also about experience, when I started trading I always rush into decision and lose, I also panic to sell soon and what happened after was the coin I sold risen in price. We all face all these and thought us lessons not to panic or greedy but to be patient. Experience really matters a lot in trading. |
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