As you said an online back up exposes you to risks and threats and defeats the purpose of having it stored offline. Why did you opt for an online backup if you are aware of the risks of hacks?

I will suggest you sweep to a new address and back that up solely offline if you want to be really thorough or just delete the online back up and hope it was not already compromised.

- Jay -

It is not an option between writing it down and memorizing it, seed phrases are meant to be written down. That is also one of the reasons that 12 words phrases are used, they are easier to write down while providing sufficient entropy.

Think of how many song lyrics you could comfortably sing word-for-word some years back, try them now and check the accuracy level. Even if you could sing the song perfectly after several years, that is only for how long your delicate brain is working efficiently, if any accident or trauma affects the brain you probably will lose access to that memory. Aging of the brain also naturally deteriorates its performance.

Trying to commit it to memory why having a paper back up is not a bad idea and does not compromise your security in any way, it could be another means of recovering if you lose your back up. This is also why you should have more than 1 back up in different locations.

- Jay -

The money being spent by Saudi Pro league clubs is nothing compared to what European clubs have been spending for several years now especially in the premier league. The EPL has the biggest pull in Europe both financially and attractiveness, this has been normalized maybe because the league actually generates heavy revenue, bigger than the other top leagues while the Saudi League at this time is spending far more than they are generating.

In my personal opinion, I do not think the Saudi league can sustain these investments for several years if they do not focus on youth training centers and scouting facilities. Buying players who are at the twilight of their careers does not boost a league up, it just creates hype which will eventually fade away. They need to combine high profile signings with talent generation.

- Jay -

1. There is nothing to suggest that miners will sabotage the network after a certain date nor do I understand what you mean by sabotage.
Forcefully accessing coins that are stored securely in wallets is not a long term solution to any issue Bitcoin has or might have in the future, but it is a short term way to break trust people have in the network.

2. If there is a network transition, it affects all bitcoins stored on it.
except in cases where vulnerabilities are discovered on individual wallets used to access the private keys.

If the network has survived a hundred years without those coins moving, it is not necessary for the future of bitcoin. There is no upside to a decision like this and it not a problem we will have to face in our lifetime.

- Jay -

This is forum rule No.12;


- Jay -

Let me use a practical example to explain this cause words like centralization and irreversible does not mean much to the average user in relation to their finances.
90% of the time you send money to a local bank account with no issues, it reflects at the receiver's bank almost instantly eve though in reality there has been no real transfer of funds, there is a master control room and they give you a balance which you see on your bank statement and credit card information.
With Bitcoin no one controls anything, when you make a transaction which has been confirmed on the blockchain there has been an actual transfer of value from one address to the other.

Another point that shows how decentralization is important is when making transactions across borders. You are dealing with different agencies connected by SWIFT system of banking. Here there are huge fees to pay and an equally huge delay in transfer and conversion to the different currencies.
Bitcoin being decentralized does not have such bottlenecks, it does not matter if you are trading with your next door neighbor or someone thousands of miles away. No one controls or regulates the system and no one has access to your funds to freeze, limit your spending or reverse a transaction you have made.

- Jay -

0.1BTC or 1 does not have the same effect as 2BTC in value and potential ROI. People buy based on how much they can comfortably afford at that time and how much they are willing to spend on a particular investment.

This is not an important question and does not allow you see how wealthy individuals think. You should be asking why he bought bitcoin in the first instance.

- Jay -

In my view, the price will rise steadily(ups and downs, but generally up) till the halving next year. After the halving the price will keep rising averagely but will not start making price jumps until a few months after the halving where we will now enter the bull run.

2023 price peak prediction: $35k - $40k

2024 price peak prediction: $60k - $65k

2025 price peak prediction: $90k - $130k.

- Jay -

If he bought 3, the question would have been, "why not 2 or 4?".
It has to be a certain number an it just happens to be 2.

- Jay -

If you paid cash in a physical store and the refused to meet your needs who do you complain to?
As a buyer whatever payment method you use you always try to look out for your interest and verify the authenticity of the product on sale and how reliable the buyer is.
If you blindly spend money, through bitcoin, bank transfer, gift cards or cash transfers you can always be cheated out of your money's worth.

1. If it is illegal then it should not be accepted for payment by legitimate businesses.

2. If online there should be an escrow;
The buyer sends to the escrow > the seller sends the product > the buyer confirms the authenticity of the product > the escrow releases the funds to the seller.
If you are in a physical store, the buyer should get the product and pay before leaving. Just as you do in any store which accepts fiat.

You do not determine what wallet the seller will use based on which you use.
Centralized exchanges does not make transactions between a buyer and a merchant easier.

- Jay -[/list][/list]

I do not think there is a way to change the timelock on an address after it has locked using OP_CHECKLOCKTIMEVERIFY.

Create a new thread so other users see your inquiry and can offer help.

- Jay -

Exchanges is not a vulnerability of Bitcoin but of a third party service which people for some reason trust enough to hold their bitcoins.
Wallets are vulnerable, which is shy we should use an open source wallet which is non custodian.

You do not need the regulators or the public to consider it legitimate, you only need to convince Bitcoiners who use it and has seen the value in it.

Bitcoin does not change much, it still very much operates now the same way it did when it was just launched and it does not need to fit into the regulatory standards of the government.
And you do not need to copy the hashtags from the article along with the write up.

- Jay -

They should have multiple secure backups held by top people in management and maybe a third party storage firm.
Employees do not need access the cold wallets.

These are sensitive questions that users here will not be able to answer. These big exchanges cannot reveal the exact modalities of their storage without compromising on security.

- Jay -

They will need to sell something to get positive feedback, so how will they be able to get that feedback if they cannot sell without it?

Using escrows protects both parties who can be malicious in their own way. Sellers can try to sell sub standard products and buyers can be too demanding on what they expect.
The way your suggestion can work is if you have all sellers registered and the buyers have a return policy if they do not get the product in the quality that was advertised.
You will be acting as the escrow in that case.

---

Note that writing consecutive posts as you are doing is against the rules of the forum.

- Jay -

Except your iPhone was compromised there is no way to know if your wallet was breached when you imported it into your mobile device.

The time frame between you importing the seedphrase and the wallet hack announcement is very close and since they probably released an update late it is very plausible that their system malfunction caused you to not be able to send you EOS coins out.

I think Atomic being a closed source wallet should not be used, along with other closed source, custodial wallets.

- Jay -

Alright, I am clear on the security aspect. It is sort of how products have a best before date when they should be consumed, but taking it after then is not immediately hazardous, but we cannot imagine that FUD about bitcoin being unsafe will not becomes very popular very quickly if there is any suggestion that it is not as safe as it used to be.

Can anyone explain the final bit about transitioning to a new algorithm not being too difficult?

True, some of the factoids^[1] contain witty and educative messages.

[1] https://bitcointalk.org/adrotate.php?adinfo

- Jay -

An escrow does not necessarily have to be a real person checking in on both parties to ensure that a deal goes smoothly. It can be a smart contract or any other means of ensuring that both parties which are involved in the trade get what they bargained for out of it.

Attempting to create a marketplace without escrow means that both traders are trusting the other person not to scam them with no cushion to protect themselves should they get swindled.

- Jay -

I flipped through a few pages of the magazine and it was a good read. The only downside was it was difficult to make out the words on a computer and I can assume that it will be even more difficult to do that on a mobile device. My suggestion is to make it appear more like an article and not the magazine look it has now.

You are greatly overestimating if you think that there are millions of articles out there which paint bitcoin in a good light and debunk the propaganda around it. The number becomes much smaller when you check how many of them actually give reliable information.
We should encourage as many writers as possible to talk about bitcoin from an honest point of view cause we have very little of those around.

- Jay -

If there is one thing I am picking up from the KM saga with PSG it is that the next club he goes to has to be very cautious that he does not pull the same card with them if things are not going his way.
Typically when player or coach comes with so many off field antics it douses their impact on the pitch and causes disunity in the club. The bigger the player, the bigger the hole they can leave in the team.

Madrid is a much bigger team than Paris Saint Germain and they will not put up with the attitude he is giving now should he make a move there, such a move might be necessary to keep the player grounded, being in a team where he has to fight for his place in the first team and has so much history that he is playing catch up.

- Jay -

It is difficult to speculate who will come out on top in the laliga next season and it is not between Barcelona and Real Madrid there are other good teams in the league who have made some good signings this window and will be battling for the title next season. If I am forced to predict I will put my money on Barcelona winning again and also doing much better in the league than they did last season and the season before then.

Real Madrid are still monitoring the transfer situation between PSG and Kylian Mbappe. If they can manage to bring him to the capital this window or the next, they will boast of the most talented young side in world football at the moment and will be unstoppable for the next decade or so.

- Jay -