I have recently learnt that people are trying to hoard coins as long as possible in order to increase it's price rise. And there are only 21 million coins in supply!  Now, let us assume that 21 million bitcoins are fully mined and 7.28 billion population all over the world gets to know about Bitcoin protocol and incidentally, everyone starts buying and hoarding 346.66666667 BTC! Then what might happen eventually? I know this is an extreme hypothetical case and will not happen at all, so please don't reply just by stating that everytime.Everyone can not hoard 346.66666667. If 7.28 billion people wanted to own some bitcoin, and there were only 21 million (technically less) bitcoins in existence, each person could only actually own around 0.00288461 btc. So, to answer your question. "Then what might happen eventually?", the only possible answer is the price will rise, if people wanted some. Edit: Shorena beat me to the answer by a few seconds.  |
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Lately, i've been hearing a lot about the bitcoin malleability attack. Unfortunately I didn't quite understand what's that all about.
Can anyone give a simple a good explanation?
Simply, when you broadcasted your tx, there was a possibility that a script written by the "attacker" would see your tx, copy it, mal-form it, and broadcast that malformed version. What would then happen is that it seemed as if you attempted a double spend, when you didn't. Sometimes due to this malformed broadcasted tx, certain wallets worked incorrectly and certain businesses waited longer for confirms, and people generally got nervous. In reality, it caused no actual damage to the bitcoin ecosystem and was just a nuisance. Your tx would eventually confirm and your funds would go to the proper address you provided, eventually. I'm not 100% sure, but my understanding is the protocol has been updated to prevent this now. Certain wallets may still be vulnerable though. |
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Apologies for the connecting-too-many-dots post above, for I think the doctor probed me too deeply.
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Definitely one of the more amusing scam busts ever. Great job, busters.  |
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Back to conspiracies. Altho I cannot link BTCStriker to Filip (yet), let's go back a bit shall we?
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So... Although I cannot prove bitcoinstriker is any particular real life person, I do believe I have proven that he is either in control of, or associated with, known forum scammers accounts.
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I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow
My guess is this was stupidity. I bet they thought there were actual physical bitcoins that could be taken out of the machine. They heard about the price increase of bitcoin and said: "yo bro, lets go to the store that has dat bitcorn atm and take da shiz, crack it open, and be rollin in da bitcorns". Wrong, they are after the cash people deposit in the ATM. Use your head. ... Oh yeah, is that what they told you? |
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I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow
My guess is this was stupidity. I bet they thought there were actual physical bitcoins that could be taken out of the machine. They heard about the price increase of bitcoin and said: "yo bro, lets go to the store that has dat bitcorn atm and take da shiz, crack it open, and be rollin in da bitcorns". |
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Yes, if you use blockchain.info, make a new account, save the wallet identifier and password,
and any other secondary password or etc prior to transferring your paper wallet to the blockchain.info address.
Unholycactus is correct in that you should use a wallet that is "safer" than blockchain.info wallet.
But if for some reason the QR Code is bad or corrupted, you can attempt to manually enter it in blockchain.info wallet.
(1.) Sign into your blockchain.info wallet.
(2.) Go to Import/Export tab, click "I understand".
(3.) In the "Import Private Key" Section, enter the private key exactly as shown, private keys are case sensitive.
(4.) Click add private key, it will ask whether to import or sweep.
(5.) Choose sweep. Select the blockchain.info address provided, and sweep.
(6.) Your bitcoins on the paper wallet, should now be in your blockchain.info wallet.
(7.) Since you swept, it may take some time to get a confirmation since blockchain.info standard miner fee is 0.0001 satos.
(8.) When you have a confirmation, you should then send these funds to your Mycelium or other reputable wallet of your choice.
As to your question about the lowest amount of bitcoin you can send, it all depends on the wallet program you are using.
With Bitcoin Core, i think the lowest used to be around 550 satoshi, but I think now in version 0.11.1, devs raised it to 2750 satoshi.
But with other wallet programs, everyone is different, I believe blockchain.info has a limit of 0.0001 during spam attacks.
Hi, i followed your instructions but i got stopped after i entered the private key and pressed "sweep", i got a red message saying error getting balance. Now im really shitting the proverbial bricks  EDIT: Panic over!! lol, i got it, thank you. The reason i asked about the minimum ammount you can send is because for some reason i cant transfer the satoshi from my old wallet. But im happy to call that lot a loss since it only account to about 30p lol It gives me an error message which reads "Error, Non-Canonical Signiture, High S" I'm glad you were able to get your bitcoins "off the paper wallet". Now very importantly, you should think about transferring off of blockchain.info, into a more reliable wallet, if you haven't already.Yes, you should be able to move 30p around easily. After I looked it up online, the "Error, Non-Canonical Signiture, High S", seems to be related to blockchain.info's upgrading their wallet to prevent transaction malleability attacks. Even though 30p isn't really alot, if I were you, I would contact them and ask how to transfer the 30p to your new address. To get around the High S Error, if you remembered you password and identifier for your mobile wallet, and signed in on the computer, you could get your privatekey out of blockchain.info and attempt to load that into another wallet program, to see if you could get your 30p out. That might work, but it is just a guess right now. |
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Yes, if you scan the "spend" QR code, that should be your private key. I do not know the SatoshiPoint ATM, so I can not tell you exactly what to do. Does your receipt have the private key written out under or near the "spend" QR code? If so, you could potentially type in your private key on blockchain.info, if the QR Code is messed up. Do you have access to your blockchain.info wallet on a computer? Do not scan and import your bitcoins into Coinbase or any exchange yet, or until you have them all set up. It is possible to also import the paper wallet into another wallet program, such as mycelium or etc. I have not used them, but have heard good things. Also check out this site to determine the best wallet for you: https://bitcoin.org/en/choose-your-walletI actually cant remember my Blockchain.info password (and they dont store them so cannot send a reminder or reset) so ive just been using the blockchain app as i still have full access via my passkey etc.. I haven't been stressing over the forgotten password because i only have a few satoshi (maybe about 1000.00 bits) from some faucets in there. I think maybe ill make a new blockchain account. Yeah the private key is written underneath the spend QR code, so maybe: New Blockchain account. And manually enter the private key? (i was a little worried about it in on the computer too to be honest) Just a quick question also, what is the smallest amount of bitcoin you can send/receive? Yes, if you use blockchain.info, make a new account, save the wallet identifier and password, and any other secondary password or etc prior to transferring your paper wallet to the blockchain.info address. Unholycactus is correct in that you should use a wallet that is "safer" than blockchain.info wallet. But if for some reason the QR Code is bad or corrupted, you can attempt to manually enter it in blockchain.info wallet. (1.) Sign into your blockchain.info wallet. (2.) Go to Import/Export tab, click "I understand". (3.) In the "Import Private Key" Section, enter the private key exactly as shown, private keys are case sensitive. (4.) Click add private key, it will ask whether to import or sweep. (5.) Choose sweep. Select the blockchain.info address provided, and sweep. (6.) Your bitcoins on the paper wallet, should now be in your blockchain.info wallet. (7.) Since you swept, it may take some time to get a confirmation since blockchain.info standard miner fee is 0.0001 satos. (8.) When you have a confirmation, you should then send these funds to your Mycelium or other reputable wallet of your choice. As to your question about the lowest amount of bitcoin you can send, it all depends on the wallet program you are using. With Bitcoin Core, i think the lowest used to be around 550 satoshi, but I think now in version 0.11.1, devs raised it to 2750 satoshi. But with other wallet programs, everyone is different, I believe blockchain.info has a limit of 0.0001 during spam attacks. |
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Today i sent for somone to purchase some bitcoins from a Bitcoin ATM in London, These are the first bitcoins ive purchased, I have the paper printout (Public & private key) and ive created a blockchain account on my Iphone, How do i transfer the bitcoins from the paper wallet to my IOS one?
(on the blockchain ios app, i went to recieve payment, and scanned the code however it says invalid address :/)
(Please excuse any ignorance, im just starting out with the bitcoin lol)
The QR code you are attempting to scan, are you sure it is the Private Key QR and not the address? Do you know the name of the ATM that you used? yeah i think so, i scanned the bottom half of the print out i got from the atm which says "Load" under the QR and the top half i tried to scan says "Spend" which is what i tried to scan on my blockchain app. im just worried ive made a mistake or something  i think the name of the ATM was SatoshiPoint, i have a receipt with the paper wallet which says SATOSHI in bold letter at the top of it. Yes, if you scan the "spend" QR code, that should be your private key. I do not know the SatoshiPoint ATM, so I can not tell you exactly what to do. Does your receipt have the private key written out under or near the "spend" QR code? If so, you could potentially type in your private key on blockchain.info, if the QR Code is messed up. Do you have access to your blockchain.info wallet on a computer? Do not scan and import your bitcoins into Coinbase or any exchange yet, or until you have them all set up. It is possible to also import the paper wallet into another wallet program, such as mycelium or etc. I have not used them, but have heard good things. Also check out this site to determine the best wallet for you: https://bitcoin.org/en/choose-your-wallet |
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www.bitaddress.org, as Meuh6879 has stated, is the only site I'm aware of that uses mouse movements to create a private key. You should use that site only, compare to some random .net site, since it is more tested and reliable. Remember to use it in an offline manner, for better protection. that's it .. please post your BTC address for donation! Meuh6879 actually answered first. But my addy is in my profile, if you still feel generous. |
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Today i sent for somone to purchase some bitcoins from a Bitcoin ATM in London, These are the first bitcoins ive purchased, I have the paper printout (Public & private key) and ive created a blockchain account on my Iphone, How do i transfer the bitcoins from the paper wallet to my IOS one?
(on the blockchain ios app, i went to recieve payment, and scanned the code however it says invalid address :/)
(Please excuse any ignorance, im just starting out with the bitcoin lol)
The QR code you are attempting to scan, are you sure it is the Private Key QR and not the address? Do you know the name of the ATM that you used? |
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www.bitaddress.org, as Meuh6879 has stated, is the only site I'm aware of that uses mouse movements to create a private key. You should use that site only, compare to some random .net site, since it is more tested and reliable. Remember to use it in an offline manner, for better protection.
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According to me it's a really big player that have massive financial power, who tends to try to manipulate the market. My definition can be not be totally accurate, by this is something of this kind  . So it means whales is a player that has a massive financial power that can control the fluctuate of the price of the market? THats it? Give other simple summary about a whales. Yes that is basically it. bitcoin whale: an individual or group of people who control a large amount of bitcoins in relation to the average user, who by themselves or as this group, have "enough of the pot" to manipulate the price of bitcoin, either up or down in massive amounts. As bitcoin's market cap rises, whales' effect on the market will become less noticeable. A bitcoin whale's power is limited to the amount of bitcoins he/they control, but they can be killed off. (See the death of BearWhale in October 6, 2014). Can you give a sample why the price running up by the whales? My sample understanding why the price is still running up: If the whales sell bitcoins for a lowered price. The price will be rise from bitstamp or any market places? There are different scenarios. If a whale has a lot of bitcoins and sells for a very low price, it is possible the market will sink, which can cause a crash. The whale, at the bottom of the crash, then could buy back their bitcoins at a cheaper price. If a whale has a lot of fiat and buys bitcoin slowly over time, it is possible the market will rise, which will cause a rallying. The whale, at the top of the rally, then could sell all the newly bought coins at that higher price. Either way, regular users of bitcoin can not do this, thus whales are powerful, and are called whales since they can make waves. |
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According to me it's a really big player that have massive financial power, who tends to try to manipulate the market. My definition can be not be totally accurate, by this is something of this kind . So it means whales is a player that has a massive financial power that can control the fluctuate of the price of the market? THats it? Give other simple summary about a whales. Yes that is basically it. bitcoin whale: an individual or group of people who control a large amount of bitcoins in relation to the average user, who by themselves or as this group, have "enough of the pot" to manipulate the price of bitcoin, either up or down in massive amounts. As bitcoin's market cap rises, whales' effect on the market will become less noticeable. A bitcoin whale's power is limited to the amount of bitcoins he/they control, but they can be killed off. (See the death of BearWhale in October 6, 2014). |
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Ants are not decentralized. They are controlled by the queen. Very good. That should be the answer if it isn't the correct one. Ants aren't controlled by the queen. Who or what are they controlled by? Worker Ants are simple beings performing basic functions that ultimately supports the queen (and her eggs). Even if the queen does not have true control over them, their existence is to her (and her eggs) service. God save the Queen! it seems that he is right, they only work together to support the colony, they have their own agenda, on what should be done, but it's not done primarily for the queen, they however protect the queen in the case it is needed It may be true that they "only work together to support the colony,... its not done primarily for the queen...", but according to http://www.pestworldforkids.org/pest-guide/ants/ (lol),: When the queen of the colony dies, the colony can only survive a few months. Queens are rarely replaced and the workers are not able to reproduce. Colony = Queen, Queen = Colony God save the Queen! |
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Ants are not decentralized. They are controlled by the queen. Very good. That should be the answer if it isn't the correct one. Ants aren't controlled by the queen. Who or what are they controlled by? Worker Ants are simple beings performing basic functions that ultimately supports the queen (and her eggs). Even if the queen does not have true control over them, their existence is to her (and her eggs) service. God save the Queen! |
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Ants are not decentralized. They are controlled by the queen. Very good. That should be the answer if it isn't the correct one. |
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...Do you guys really think he will pay 0.5 btc for this?
If he doesn't he is going to get negative trust. But any way, my guess is that you can not "unlock" cryptocurrencies, but they must be "cracked". As a play on words, so, the cover should say: "Cracking digital crypto-currencies", for the double meaning. One meaning, to understand. The other, to code break (which currently has not happened with Bitcoin private keys...yet) |
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According to my understanding, most robberies are actually in the middle of the day when you are not home and most likely at work.
Yes, you should hire a bodyguard and pay them in bitcoin.
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