I have been importing Paper wallets into Electrum for a while now and recently saw this guys method of doing it and I started questioning my own method. - https://thecleverest.com/importing-bitcoin-from-a-paper-wallet-into-electrum/Why does he decrypt the Private key? The Paper wallets I created with bitaddress.org gave me the Bitcoin Adress and the Private key, without any encryption. ( I will have to re-visit my Paper wallet creation method to include encryption now? ) Who is using the BIP38 Encryption when they creating their Paper wallets, because the Single Wallet does not have that option? What is the best practice? Also, is there a limit to how many imports you can do in Electrum? |
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I was shocked the other day, when my cousin told me about a friend of his that won a significant amount of money on a Crypto currency online gambling site. The site is not regulated and they also did not ask for KYC documentation to process his withdrawal. It is easy enough for these kids to use their parents ID and Bank statements to register for KYC validation on these sites, because they do not ask for photos of that person with his documentation when you register a new user. This will never happen with Brick n Mortar casinos, because the adult is matched with his ID Document. How can we make sure that kids are not exposed to gambling at a very early stage, when they might not be ready to deal with the consequences? Gambling addiction is not a joke and these kids might turn to criminal actions to fund their gambling addiction. Let's brainstorm.  |
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So in the early years of Bitcoin's history we saw a lot of people pushing the "Bitcoin is a Revolution" agenda. We know it's origin came from Satoshi Nakamoto posting that his project was a electronic cash system that's fully peer-to-peer, with no trusted third party. In the beginning this was a technological revolution and a breakthrough that would change the future of Money. "Bitcoin: A Peer-to-Peer Electronic Cash System" Hidden in the Genesis block was a reference to this : " The Times 03 Jan 2009 - Chancellor on Brink of second bailout for Banks", so it is just natural to think that it might spark a revolution. Libertarians and Anarchists was all over this and when PayPal stopped processing donations to Wikileaks and credit card companies stopped processing Backpage.com payments, Bitcoin stepped in to help.  Third party services took notice and regulated third parties entered the scene to try to bring some order and also to bend over to government pressure or just to make a quick buck.  Did Bitcoin just evolve to satisfy the masses or was the whole project hijacked by the Puppet masters from the traditional Fiat system to stop the revolution and the inevitable change of money as we know it?  |
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Most people would say, gambling is a destructive activity and that it only destroys lives... and in a way I agree with them. The thing is, everything comes with good and bad and gambling is not an exception. Regulated and licensed gambling operations are obligated to pay taxes.... right.. well every Dollar added to the government fiscus helps to fund large projects. These projects create new job opportunities and also income for unemployed people and also stimulate the economy when these people use that money in the retail industry. (Food & Services) Some people actually win at some of these casinos and they win big, so this money also goes back into the economy and these gambling operations employ people to run these casinos, so that is also a added benefit of these online casinos. What other positive things can you think of that online casinos can add to the global economy? |
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Even before the Covid-19 virus, eSport events have been drawing higher viewership than normal Sport events online. " The League of Legends (LoL) World Championship was the most watched esports event of 2019, according to digital streaming data published by Esports Charts. With 137 million hours of viewership, the Riot Games competition outperformed the Dota 2 International Championship and the IEM Katowice Major, which registered 88 million and 53 million respectively. The figures, which do not take into account data from Chinese platforms, represent a 66 per cent year-on-year increase for last year’s LoL World Championship over the 2018 competition." Source : https://www.sportspromedia.com/news/lol-world-championships-esportsThe third season of the F1 Esports Series recorded a 76% increase in online viewership to 5.8 million, with 2019 online viewership totalling 5.8m and 169m social media impressions accumulated, making it a milestone year for the F1 New Balance Esports Series. Source : https://www.formula1.com/en/latest/article.2019-f1-esports-series-records-largest-ever-audience.4G12AoLCpCBi3B5p8tQ3xQ.htmlDo you think in the future people will bet more on eSport than actual Sport events? Let's discuss. |
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So, I watched this documentary called " VICE" - Season 7 episode 1 and they discussed Sim swapping and how so-called Sim Kids are using Crypto currencies to hide their earnings through this crime. One of those kids have almost $2 000 000 in Crypto currencies hidden from the authorities and will be jailed for about 10 years for these crimes. These people seem to think Bitcoin and other Crypto currencies would be a perfect way to store their illegal stash, earned from crime. They are bargaining on getting small sentences for these crimes and then getting out and spending those millions when they get out. Doing 10 years for $2 000 000 might sound good to the average person, but what about inflation and also a possible collapse of the Bitcoin price. A lot can happen in 10 years.... heck we have seen a 80% drop in the price of Bitcoin in a matter of a few weeks. Also remember that you would be stuck with a criminal record, so finding a good job will not be easy at all. That money will not last forever and when it is finished, your life will be ruined. Imagine doing 10 years or more and then having to sell those bitcoins for a few Dollars, because the price collapsed whilst you were in jail.  Most of these guys are hoping for the Moon and when they get out, it might just be as valuable as a rock on the ground.  |
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You know one of the best advantages you get when you visit a Brick n mortar casino is the fact that some of them provide you with so-called "comps" or complimentary drinks or food or ticket to shows..etc. So when you subtract that cost from your gambling experience, you get a little extra to play with..because you did not have to pay for that. It would have been nice, if online casinos could provide alternative online "comps" for online gamblers. Let's take this as an example : You decide that you can gamble a few hours every night or over weekends, but you first have to make dinner or lunch and that takes away some of your gambling time. What if these online casinos could partner up with some delivery service to provide complimentary discount vouchers for food delivery or take-away food? Once you gambled a certain amount of money, you can claim a voucher that you can use to order some take away or you can sell that to someone if you cannot use it. (redeemable for say a week) It would be nice to get back from a hard day at work and not to worry about wasting time to cook food. Just use your vouchers that you received from your previous sessions. The delivery vouchers can also be replaced by liquor discount vouchers at franchise bottle stores on products that might be on promotion. (So the bottle stores are incentivized by the cheap marketing that are done by the casinos for their promotional products) Do you think this might work? Let's discuss. |
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I was watching some funny videos on TikTok the other day, when I happen to land on the new trend on TikTok, namely : Dance moves with tight shorts, showing their cameltoes and nipple stands. There are literally 1000s of women doing this and the men are showing just as much as what is allowed by the site moderators.
Some of the women had some of their videos banned, because it was showing too much. Now that got me thinking... if there are people out there willing to show more than what is allowed and they have no platform to do that, why not create one and then also monetize the site. with Crypto currencies.
It might work like this, the user show a preview of what they are willing to show in the first 60 seconds and then if people want to see more, they have to pay say $2 in Crypto to see the rest of the video. Then $1 goes towards the hosting site ...let's call it, TickPay and $1 goes towards the user for the content they offered.
There are some people with 100's of 1000's of views and likes, so we talking huge amounts of money for the user and for the site and Crypto currency prices will skyrocket.
Site moderation can work like this... People register to be site moderators, based on their history of correctly moderating previous content. So once you moderated say 10 000 contributions and you correctly moderated the majority of that, compared to other people's feedback (reported content) then you get FREE access to all videos that are blocked for 3 months or x amount of videos. (As you moderate further, you build up credits for further FREE viewing. (This is done to stop underage content from being displayed on the site)
What do you think, will this work and will this promote Crypto currencies?
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Ok all of us know the classic design of all standard slot games ... right.  Ok now imagine you have 3 players competing with each other on 1 game. It works like this .... 1. The graphics are replaced by roads with different types and width. Each player decide before the game starts on what type of road it wants to build. 2. You place your equal bet and a percentage of the bet goes to the house. The winner win the other 2 players bet amount that remains. 3. Pull the lever and the slot machine is started. When your choice of road comes on the screen at the left of the screen, the computer lock it in place for that player in the first column. (Just below the slot machine graphics.) 4. The first player to complete his road from the left, all the way to the right wins and a car or bike drive on that road to indicate the win for that player. 5. The money pot is added to the winners balance and the next round is started with the next 3 players. Do you understand the game and do you think you can program a game like this? Well if you can, go for it... looking forward to see this kind of game. Note: I am not paying or funding someone to develop this game. I just got the idea and I thought it would be a nice game to play. If you done with this game and it is succesfull, feel free to contact me for my Bitcoin address and drop me a little donation for the idea. |
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We have seen this multiple times before... These third party services start by drawing customers into their services, by promising them freedom to use and store their bitcoins as they want and then when they have acquired enough customers, they turn into a Bank or regulated financial institution.  We have seen this happening with "Circle" and the latest service …. "Xapo" - ( https://blog.xapo.com/changes-to-our-business-and-service/ ) I guess there are more profit to be made when you are a Bank. Now you can over charge people for transactions and additional services, like the Banks in the Fiat system. It is sad to see how these companies are exploiting the Crypto currency community with these Trojan tactics and we are just too willing to fall for that. Who will be next? |
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A lot of Crypto casinos are popping up like mushrooms these days, but do they ever communicate with the Crypto community to see what they want? Casinos will be successful if they offer games that the majority of the people want or if they can offer something new or unique. I think we should have more threads that must poll the needs of the gambler and not what the most profitable and comfortable for the house is. I just started a small Poll to extract some basic information on some of the most popular games that are currently being hosted out there. Feel free to post more games that might not be on that list, because these games are just a small test to poke around and to see what people think about this idea. Market research is the most important requirement for success in this competitive scene. Let's discuss. |
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I have recently started playing a game called, "Forge of Empires" because the lockdown gave me loads of time to even play some online games. So, I joined a guild and I started talking to some of the older and more experienced players in the game and one thing lead to another and we started to talk about Bitcoin. The player made the statement that "Bitcoin is worthless" because it is not something physical like Cash or Gold, which according to him had worth. I then proceeded to debate this issue by asking him a couple of questions. My first question was... "How much money do you spend on the diamonds that you use within this game" - His answer : About $20 per week.  I followed that question with my second question, "How long have you been playing this game and spending that money on Diamonds? - His answer : "Hmmmm well, since about 2015" I quickly made some rough calculations : $20/week x 4 weeks x 12 months = $960 per year x 5 years = $4800 spend on buying Diamonds for that game. He never made that calculation, because he said it was from his entertainment budget, but he was amazed that it was that much. I then asked him.. Do you think those Diamonds are worth anything? (Would anyone buy your Diamonds or account for $4800?) - His answer : Definitely not. I then said... Well, do you think if you spend that money on buying bitcoins that it would have been worth anything now? His answer : Yea.. I think I get what you are saying now. This guy are now buying $10 worth of bitcoins weekly and still spending $10 on his Diamonds for the game. He send me a screenshot of his bitcoin balance and he is very proud of this investment. Sometimes you just have to confront people with the things that are right before their eyes. No need for you to go into arguments or to force people to buy anything, you just show them the truth and then wait for the light to come on. Since I started playing the game, I spend ZERO money on Diamonds  |
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I have noticed that a lot of countries allowed eCommerce sites to continue doing business during the "Lockdown" periods. People are now forced to buy things online and then to have it delivered, where they previously walked around in Malls and shops. So, with the increase in eCommerce, one would think that it would go hand in hand with a increase in online payment methods..right? Seeing that Bitcoin is one of the most secure online payment methods, one would also think that there would be a increase in the adoption of Bitcoin use...right? What is your thoughts on the possibility that Bitcoin adoption might increase, because there are more focus being placed on eCommerce? Do your government also encourage eCommerce during the "Lockdown" and are you seeing a increase in the merchant adoption of Bitcoin payment options? Let's share our experience and your thoughts on how Bitcoin adoption could increase adoption during these difficult times. |
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In recent days, many people in my family and friends have lost their jobs due to this Corona virus lockdown. The smaller businesses are suffering the most, because they are not allowed to do business. These businesses are also not helped by the governments, because the governments are concentrating on large businesses, where more people are being influenced. <Obviously because it gets them more votes, if they can save a large corporation from going bankrupt> I am calling on the creativity of our Bitcoin and Alt coin community to use their creativity to create online business for people who are currently unemployed. <Notice that I am not asking for charity, but rather a method for people to learn how to fish for themselves or to work for their money> If you have a online company and you can afford to launch a signature campaign, please do that or create some sort of micro earning opportunity to help people to survive. Bitcoin can help people to work from home and it will also help to reduce unemployment. It will then stimulate the economy and in turn help to generate tax income to support the people who are too old or sick to work. Let us be part of the solution to help people to survive, without having to feed them with our taxes and our donations. Thank you to all the Bitcoin companies, who are still supporting things like Signature campaigns and job opportunities in these difficult times. |
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I was watching a video last night on this powder that can be placed in filthy water and it binds all the solids and also disinfect the water within 30 minutes. This got me thinking, if someone could get some Blockchain project running to help with the funding for a bunch of these packets, then we can make a real difference in people's lives. Demo : https://www.youtube.com/watch?v=yG90QjiAWTgIt should be something similar to this : https://www.gcfdn.org/Giving/Funds-of-the-Foundation/Procter-Gamble-Charitable-Giving/Childrens-Safe-Drinking-Water-FundA human can go for more than three weeks without food, but the maximum time a person can go without water seems to be a week. We saw what massive difference the Pineapple fund made to charities, but I think a project like this will make an even bigger impact, because the water sources for many people are filthy around the world and a few packets like this will provide clean drinking water for 1000's of people for a whole year. Do you have any interesting projects that can be linked to donations for charity projects like this? Please find a way to include this in your projects or to start something new. We can also crowd ask that P&G fund to accept donations in Bitcoin to also boost that project, if we cannot start something on our own. They currently only accept Credit card payments.  - $7.50 - give a child clean water for a year... |
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Seeing that we are all sharing some of our time with each other every day, I just wanted to say Happy Valentine's Day to all of you. I hope you are going to share the Bitcoin love with loads of people, without sharing to many viruses. Let's forget about all the problems and fighting for a day and concentrate on the positive thing that brought us together here, namely : Bitcoin. I decided to spread the Bitcoin love today and I created some paper wallets with a small amount of coin on it and I am going to distribute this to random people on the street in my city. I am adding a flower for the ladies with the little paper wallet and a link to this site to get more information about Bitcoin. I hope some of you will do the same today, so that we can spread the Bitcoin love. Wish me luck, it is surely going to be a interesting day. Ps. I am keeping the private keys and if the coins are not moved until the next Valentine's Day, I will take back my gifts. |
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I watched a Youtube video last night about the food merchants in some of the markets in Wuhan <China> and I noticed that most of them are using electronic payment methods to pay for goods. < Wechat Pay > Ok, it is not Bitcoin, but if more merchants using Fiat currency can switch over to Bitcoin, you might see less infections. The reason for this is simple, because the Corona virus can be transmitted from person to person via cash being used on a daily basis. People can also do online payments with Bitcoin to avoid handling physical cash and thus avoiding infection. It can also prevent people from being infected from a host of other viruses and bacteria that can survive for days on physical coins and notes. This is just one more reason for people to move away from physical payment methods and shifting to a cash-less financial system in the future. |
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https://www.businesslive.co.za/bd/world/africa/2020-01-15-zimbabwe-and-china-sign-currency-swap-deal/We all know struggling countries with hyper inflation eventually force people to turn to Bitcoin as a store of value to hedge against the drop in the value of their own local currencies. This has happened in countries like Venezuela / Greece / Cyprus and Zimbabwe and we saw an increase in demand for bitcoins in those countries during these times. Lately, China has pounced onto opportunities like this to sign agreements for currency swaps to "help" these countries. Do you think this might have a huge impact on the decline for the demand for bitcoins and also a drop in the price? Let's discuss.
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David Chaum - He visualized a token currency which could be transferred between individuals. Chaum developed a so-called "blinding formula" to encrypt information passed between individuals and later, founded DigiCash. Wei Dai - In 1998 Wei Dai proposed an "anonymous, distributed electronic cash system" - In the B-money system, digital pseudonyms would be used in order to transfer currency through a decentralized network. Satoshi referenced elements of B-money in his bitcoin whitepaper. Nick Szabo - Bit Gold came with its own proof-of-work system that in some ways is mirrored by today's bitcoin mining process. Bit Gold aimed to avoid reliance on centralized currency distributors and authorities. Szabo's aim was for Bit Gold to reflect the properties of real gold, thereby enabling users to eliminate the middleman entirely. Adam Back - He published a paper detailing his protocol in 2002, named: ‘Hashcash – A Denial of Service Counter-Measure.’ Hashcash used a proof-of-work algorithm to aid the generation and distribution of new coins, much like many contemporary cryptocurrencies. I have had many silent thoughts on this matter and I contemplated the outcome of this experiment, if Satoshi decided to reveal his true identity. How many people would actually take him to court for intellectual copyright infringement? Companies like PayPal revolutionized person-to-person payments online and they might even find a reason to sue him. Is this not one of the reason why Satoshi Nakamoto never revealed his true identity? Sources : https://www.investopedia.com/tech/were-there-cryptocurrencies-bitcoin/ https://btcmanager.com/the-history-of-bitcoin-part-1-what-is-hashcash/https://en.bitcoinwiki.org/wiki/B-moneyhttps://en.wikipedia.org/wiki/Nick_Szabo
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