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Try Bitcoin Armory. It is very secure. Otherwise, I would recommend you use a hardware wallet such as Trezor.
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Actually an anti-bitcoin entity could perform a 51% attack without buying too much equipment. If I were a government or other such entity and looking to perform a 51% attack I would look into opening up a bitcoin mining pool. They could just payout higher than average and miners would slowly begin moving over to that pool. If you are making y bitcoin per xxx hashrate and I start a pool offering y+20% bitcoin per xxx hashrate, there is no doubt people would start moving over.
With all the cloud-hashing schemes and other scams out there, most people wouldn't even question how is possible for such high payments. Others would suspect something, but most would not care as long as the payments kept flowing in.
So at roughly 144 blocks per day * 25 BTC reward * $300 = $1.08 million per day currently mined. So they offer extra 20% would only cost them ~$200,000 a day. Actually it would be quite a bit less since it would take time to build up a loyal following of miners and they would only need 51%. So only toward the end of the operation would they be paying out in excess of $100,000 a day, They could probably start the operation with just a few thousand a day as people first started to move over.
So the question would become how long until they could convince enough people to move over. If only 30-45 days, I think they could pull it off for around $2-3 million. Heck this is low enough amount where even a large company or high net-worth individual might try it on their own... Thoughts?
As people begin to migrate over, the community will see that this pool is gaining almost 51% of the hash rate. Then a shitstorm will ensue and that pool will lose those miners. Just look at what happened when Ghash.io almost had 50% of the mining power. They lost a lot of miners and the miners went to other pools to keep any one pool from getting 51%. The anti-bitcoin entity would have to get its own miners and mine by itself to get 51%. Also, if such an attack succeeded and discredited Bitcoin, then all of those Bitcoin they mined are worthless and tons of money was just wasted. It is likely that they wouldn't succeed so hey, the government or whoever just made a lot of money that they can now use and maybe instead of attacking Bitcoin, they can adopt it and use it. 51% is not some magical number that as soon as someone gets 51% of the hash rate, they suddenly have full control over the blockchain. It doesn't work like that. What 51% means is that the miner has a majority of the hash rate, which means they have a higher probability of finding over half of the blocks. In reality, the entity would need 80, 90% or higher in order to successfully pull off such an attack. In the network's current state, that would be prohibitively expensive. |
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You could use a remote desktop software and remote into your computer at home to send funds from there to your phone.
You could also carry a few paper wallets or simply keep more Bitcoin on your phone.
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How would this work with address reuse? If someone sets up a donation address, then they can't send Bitcoin from it without having to change the address or reveal their private key.
Also, I don't see how this discourages double spends. If a double spender sends out his two transactions in the traditional race attack, then one will reach some miners, the others will reach other miners, if at all. However, only those nodes that receive both will know that a double spend occurred and only they can get the private key. Those nodes will not broadcast the double spends (unless they are Bitcoin XT) so the double spend transaction won't reach some of the miners. Those who do know the private key after receiving those transactions are at a disadvantage since two transactions have already propagated faster than their own double spend can. Unless they are a miner, then knowing the private key would be pointless.
And with miners, if they don't receive the double spend transaction, how do they know that a double spend occurred? A smart attacker could simply broadcast the transaction to specific nodes, nodes that he controls, so that the miners only get one transaction and other nodes before them filter out the double spend. That way, the miners can't get his private key and anyone who does get it can't do anything with it.
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In all honesty, Bitcoin is not yet ready for mass adoption. Don't get me wrong, minimal fees are great. However, this feature is overshadowed by all the hoops and obstacles companies have to go through to deal in Bitcoin, as well as the lack of fraud protection and overall user friendliness.
Why is it not ready? And there doesn't seem to be any hoops or obstacles. All they need to do is accept it which is simple to integrate whether you're an online store or brick and mortar shop. Fraud protection will be covered by a payment processor too, not that they have to worry about that much unlike credit card companies. It is still an alpha software. Bitcoin Core is still alpha and hasn't even reached version 1.0 yet. |
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Are you sure about your first statement ? I'am using probably Bitcoin Core for almost a year now and each time I reboot the PC while it's running and boot it back I found the database corrupted , and it begins from 6 years behind xx weeks .
Same goes if I close it normally and I don't wait for that window to close alone , sometimes I even wait it then reboot but I find it corrupted , I guess I will understand how that shit works .
That usually indicates a problem with your computer. It corrupts when you shut down the computer since it doesn't fully close and that corrupts the LevelDB database. It should be find when you close it properly. If it isn't then you might have a hardware issue. for the peers , I'am not sure what that means , do you mean Active connections ? then it's 8 . I used to run a node
Go to Help > Debug Window and tell us how many connections there are next to "Number of Connections" Then go to the Peers tab and check each of the connections and make sure that they have a ping time and that none of their information fields says "-1" I'am not sure about the paths of those dump files or whatever . So for the number of connections it's as I said 8 , on the Ping time it says : "N/A" and when I click on one of the rows for more informations I get " -1" on the starting height . What does that means That means that you aren't actually connected. Check to see if your firewall or something is blocking your connection. Check the firewall for your computer and the firewall on your router. Also try connecting to other nodes. There is a list somewhere on this forum of good nodes to connect to and try to connect to them. |
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Are you sure about your first statement ? I'am using probably Bitcoin Core for almost a year now and each time I reboot the PC while it's running and boot it back I found the database corrupted , and it begins from 6 years behind xx weeks .
Same goes if I close it normally and I don't wait for that window to close alone , sometimes I even wait it then reboot but I find it corrupted , I guess I will understand how that shit works .
That usually indicates a problem with your computer. It corrupts when you shut down the computer since it doesn't fully close and that corrupts the LevelDB database. It should be find when you close it properly. If it isn't then you might have a hardware issue. for the peers , I'am not sure what that means , do you mean Active connections ? then it's 8 . I used to run a node
Go to Help > Debug Window and tell us how many connections there are next to "Number of Connections" Then go to the Peers tab and check each of the connections and make sure that they have a ping time and that none of their information fields says "-1" |
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Yes , Please is this the right command : pywallet.py --dumpwallet  or please give me a simple command thank you very much for your time  The command I use is this: python pywallet.py --dumpwallet > wallet.txt This writes it out to a text file called wallet.txt located in the folder you have the command prompt open to. If your wallet is encrypted: python pywallet.py --dumpwallet --passphrase=PASSPHRASE > wallet.txt where PASSPHRASE is your passphrase that you encrypted the wallet with. Again, it writes it to wallet.txt located in the folder you have the command prompt open to. |
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It's been hours since I started the wallet and it was like 5 days ago and not it freezed at 39 Hours behind . I don't want to close it because I want it to finish sync right now , and if I close it it will start all over again when I run it once again later .
It shouldn't. It should pick up right where it left off. Anyone having this issue ? I thought it's my internet connection so I reboot the modem once again in case but nothing happens (it usually works) suggest me anything ASAP ty
When I hove my mouse on the ProgressBar it says :
"Catching up ...
Proceeced 365932 blocks of transaction history ."
How many peers do you have? |
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hi
Please What "--dumpwallet" do in pywallet - i want i simple command to get my privat key using python only.
Thank you!
It returns the wallet in a human readable format. If it is unencrypted, you will find all of the addresses, including pregenerated ones, labeled and with their corresponding private keys. i can see my last transactions , but i cant see my private key please any more info sir ? Transactions aren't stored in the wallet.dat, at least, I don't see any in mine. If your wallet is unencrypted, you will see a lot of stuff like this (this is one for my testnet wallet "addr": "mmLRgxXCSaRrmoXSo2sgGe2CQmo4cavdKU",
"compressed": true,
"hexsec": "a7b36bd39f558ea03c415d2a522a0609caf2d014506fe9db921dc1064eb01ba3",
"private": "3081d30201010420a7b36bd39f558ea03c415d2a522a0609caf2d014506fe9db921dc1064eb01ba3a08185308182020101302c06072a8648ce3d0101022100fffffffffffffffffffffffffffffffffffffffffffffffffffffffefffffc2f300604010004010704210279be667ef9dcbbac55a06295ce870b07029bfcdb2dce28d959f2815b16f81798022100fffffffffffffffffffffffffffffffebaaedce6af48a03bbfd25e8cd0364141020101a12403220003072a91ff1ebcb4bff0c8368afcfc0a01eed33716311a7cee3dcd5b43c057b55f",
"pubkey": "03072a91ff1ebcb4bff0c8368afcfc0a01eed33716311a7cee3dcd5b43c057b55f",
"reserve": 1,
"sec": "cTCgz77r4BigUt4CVbW4MEWXTNJMm95caZX2TWc98icXsGTZUEss",
"secret": "a7b36bd39f558ea03c415d2a522a0609caf2d014506fe9db921dc1064eb01ba301" The part you care about is "sec" that is the key in Wallet Import Format. It should start with 5, K, or L. This one starts with c because it is testnet. If the wallet is encrypted, you should see a bunch of stuff like this "addr": "mgCepFFmwNiNSCGoGeZSG6U7eGRkzzwjWw",
"compressed": true,
"encrypted_privkey": "e53d309fad405b3c2f3aca08658466ec6f33132cde378bae20d3d8af37949b444e17981f1223158dbac624f5e4b77333",
"pubkey": "020188f460b3ba47dc0f4506e833140f672fd7e0e8a536458e33b39e8eeee6b933",
"reserve": 1 Obviously encrypted privkey is your private key encrypted. You will need to use the --passphrase option and set your passphrase. |
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Im just trying to learn sir , also please tell me what info can i see if i used Notpad++ to open the wallet , thank you You cannot. All you will get is a bunch of garbled text. You need to use something like pywallet to get it into a human readable format. I have several wallet backups and they range in size from 400 KB, probably the first backup, to 4 MB which is one of the later images. I opened one up with notepad just to peak and as others have indicated you will see a bunch of random gibberish, at least nothing in human readable format.
I assume they are encrypted, probably sha, I am not sure how file encryption works but I don't think those will be able to be broken at all or by any asic. SHA is not an encryption, it is a hashing algorithm. The wallet uses AES encryption with a key derived from your password using SHA512. |
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You need to escape each quote. Put a slash / before each quote.
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hi
Please What "--dumpwallet" do in pywallet - i want i simple command to get my privat key using python only.
Thank you!
It returns the wallet in a human readable format. If it is unencrypted, you will find all of the addresses, including pregenerated ones, labeled and with their corresponding private keys. |
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I'm not promoting any particular coin. I'm asking what alt-coin out there isn't vulnerable to the inevitable 51% attack.
I'm a full supporter of bitcoin, but I will not ignore the fact there is a hole in the Bitcoin system which makes it imperfect.
The attack WILL happen.
First of all, EVERY COIN is vulnerable to a 51% attack, just like your password and cryptogrpahy are vulnerable to a brute force attack. There is nothing that can prevent one. However, the costs of performing a 51% attack are extremely high and it is difficult to pull off. The community will react and come up with a solution, which might just be get more people to mine thus reducing the attackers percent of the hash rate. Also, a 51% attack is not the end of Bitcoin. All the attacker can do is double spend his own coins, attempt to prevent people from spending, and attempt to prevent miners from mining. Even with 51% of the network, that doesn't mean the attacker suddenly has absolute power and full control. That just means that he has a higher probablility of finidng more blocks and could potentially create a longer valid fork of the block chain. The other 49% of the miners would still be finding about half of the blocks. In order to actually gain control of mining and adversely affect Bitcoin, the attacker would probably need somewhere upwards of 80 - 90% of the hash rate, which is much more expensive than just 51%.Whatever amount that is, it's peanuts. If all the major banks came together (Citigroup, JP Morgan Chase & Co, BoA, HSBC, Wells Fargo), they could have the attack done in a matter of 2 weeks. They could put together enough money to take full control over the blockchain with ease. I wouldn't be surprised if they already have the facilities built and just waiting for the perfect moment to shut Bitcoin down. The U.S. government..... I don't even have to explain. And if they did that, the banks and the government would all be bankrupt. They would have literally shut themselves down due to the costs of maintaining such an attack. The people wouldn't be happy and whoever was in charge would be gone. |
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again this crap, the money needed to set up a mining operation that could overwhelm 51% of the network at this stage would be best used with that same equipment to secure the network instead, and earn the normal reward from the mining activity
would be more feasible for chinese to do this, because they are already at roi stage
You don't understand, the 51% attack is to destroy the infrastructure of bitcoin in order to save the established banking system in the U.S. and worldwide. They will have to spend a ridiculous amount of taxpayer money. In democratic systems like the U.S. and other countries, those people who came up with that plan will be voted out of office very quickly since they would be spending the taxpayer money on something that has no return at all, attempting to destroy Bitcoin. There is no gain for the populace and those politicians will be replaced by people who are either neutral or pro-Bitcoin. Even if the attack was to destroy the infrastructure, as soon as it stops, the network will rebound. Those that have faith in Bitcoin will find a solution. Probably something like a block or small code change that drops the difficulty back to a usable level by the rest of the miners. After a few months, Bitcoin will be back on track. |
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light client ? please explaine more .
SPV Clients like MultiBit or Electrum don't need to download the whole blockchain. You can use a tool like pywallet to extract the private keys and import them into another wallet. Or you can import it into blockchain.info and send the Bitcoin from there to another wallet. |
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Dude, watch this: https://www.youtube.com/watch?v=ncPyMUfNyVMYou don't understand how Bitcoin and the blockchain works. The amount of computational power you would need to severely disrupt the network at this point is just ridiculous, and they would lose tons of money trying to do so. They would gain way much more money by being good actors. Learn how the consensus algorithm works before you drop your next FUD thread. Attack or not, bitcoin will be replaced. Lack of development. Are you nuts? There is tons of development happening. Just look at the Mailing list. Instead of rushing things out, the developers are going through it slowly and carefully because new stuff in Bitcoin can adversely affect a lot of stuff, so they need to be careful. There is plenty of development and lots of testing and careful consideration before something is ready to be released. |
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I'm not promoting any particular coin. I'm asking what alt-coin out there isn't vulnerable to the inevitable 51% attack.
I'm a full supporter of bitcoin, but I will not ignore the fact there is a hole in the Bitcoin system which makes it imperfect.
The attack WILL happen.
First of all, EVERY COIN is vulnerable to a 51% attack, just like your password and cryptogrpahy are vulnerable to a brute force attack. There is nothing that can prevent one. However, the costs of performing a 51% attack are extremely high and it is difficult to pull off. The community will react and come up with a solution, which might just be get more people to mine thus reducing the attackers percent of the hash rate. Also, a 51% attack is not the end of Bitcoin. All the attacker can do is double spend his own coins, attempt to prevent people from spending, and attempt to prevent miners from mining. Even with 51% of the network, that doesn't mean the attacker suddenly has absolute power and full control. That just means that he has a higher probablility of finidng more blocks and could potentially create a longer valid fork of the block chain. The other 49% of the miners would still be finding about half of the blocks. In order to actually gain control of mining and adversely affect Bitcoin, the attacker would probably need somewhere upwards of 80 - 90% of the hash rate, which is much more expensive than just 51%. |
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All valid points, than you all for your feedback.
How can I try and get new users of Bitcoin to try my wallet? What would you do?
First, get it approved on the Play Store. Then make it open source and contact the people at bitcoin.org and see if you can get it listed on their website. It will make you seem credible and let everyone else know that trusted people have looked at the code and determined that it is not malicious. Advertise it around the forum and give some people free Bitcoin to start with. Say like the first X users get Y Bitcoin free. |
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It looks like they aren't making any money right now but will probably in the future. They are funded by Stage 1 Ventures,a venture capital group. I'm guessing that once enough people here about them they will come out with more stuff that you have to pay for so that they can make money.
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