This could be the dawning of Bitcointalk game, I scored 8 and it was fun and quick. Just only 10 questions for now, with time, there should be improvements.
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This is informational and helpful especially for newbies, if bittrex are the one that send the airdrops, you will see it on their website where you can apply for it. What I can never do is to participate on any airdrop through email messages which can lead to malware installation on the device someone use to access the links on the email. Aside that, it can lead to phishing attack also, if you provide your personal details.
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Those who use their computers to save wallet file (.json file) and also use to access the internet then there is a chance that the wallet file may got infected and unusable if you are not expert at keeping your device secured and safe from viruses and malwares.
Malware installation is not because of file type, any file can be infected. The best way to get your devices or wallet devices free from malware is to avoid the malware, basic ways you can avoid malware is the main reason for this thread.
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but I think both uses SHA256 They don't. You can generate a private key using SHA256, by inputting any string of characters or numbers, and it will output a 256 bit number which can be used as a private key. This is essentially creating a brain wallet, and is a very poor way to generate private keys. But what we are talking about here, deriving private keys from a seed phrase, does not use SHA256. Also, Mastering Bitcoin is available for free on GitHub. It's much easier to read there than on a Google preview. Link: https://github.com/bitcoinbook/bitcoinbookThank you for the link, and I also get it clearer now that HMAC-SHA512 is required to turn seed numbers into private key while SHA256 can be used to generate private key in such a way that brain wallet is created. With time, I will get this better.
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It the same, when generating private key, the SHA256 hash algorthm will be used which is the same SHA256 hash algorithm used in generatng seed phrase, and in a way that this produces 256 bit numbers. That's not accurate either. SHA256 is only used to calculate the checksum of the entropy which is then turned in to your seed phrase. Turning the seed phrase in to a seed number, and turning that seed number in to private keys uses HMAC-SHA512, not SHA256. In the case of generating a private keys, the left 256 bits are used to generate the private key and the right 256 bits becomes the chain code. In case of private key generation the number should not be less than 1 and should not be more than n-1, else, it will fail to generate. Actually, since private keys are modulo n, you can generate private keys above n-1, and they will just loop round again. So, seed phrase are generated in such manner too but in a way that the private keys are converted into words. So, we can say private keys are seed phrase. No and no. Private keys are not converted in to words, and we cannot say private keys are seed phrases - they are two very different things. private key is first generated in hexadecimal format which are later converted to words called seed phrase. Private keys are never converted to words called seed phrases. I would suggest you learn more about this topic before trying to educate others on it. I agree, they are not generated the same way, but I think both uses SHA256, i am still a beginner, I make use of this page to learn little about the SHA256, it was the book that did not say it completely. https://books.google.it/books?id=IXmrBQAAQBAJ&pg=PA64&lpg=PA64&dq=n+%3D+1.158+*+1077&source=bl&ots=9BgSltKnRY&sig=ACfU3U3FnBeD39fzvwumLIXSAujMLCCJLg&hl=en&sa=X&ved=2ahUKEwjQmNuhncrpAhXpiIsKHQDbD-kQ6AEwAXoECAYQAQ#v=onepage&q=n%20%3D%201.158%20*%201077&f=false But about how both are generated, you are right, not in the same way.
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The passphrase This is the encryption of seed phrase with password, this password makes it impossible to access the seed phrase, the password is required to unlock the seed phrase, some wallets call the passphrase seed extention and it is referred to as the 13th/25th word. This is incorrect. The passphrase does not encrypt your seed phrase, and the seed phrase can be easily accessed without knowing the passphrase. The passphrase is used as part of a second parameter in PBKDF2 to turn your seed phrase in to your 512 bit seed number. You can use as many different passphrases as you like with the same seed phrase, and the result will be a different set of addresses each time. I am still learning, your are pro compare to me, thanks for the correction. But what I was just trying to say is that passphrase can be passworded in a way that the password will be used to access the seed phrase and that it is called passphrase. But, I will still talk about this in a topic to know how a seed phrase can have a passphrase but it is not necessary for seed phrase to be accessed with passphrase like you said. You are correct.
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More precisely, the private key can be any number between 1 and n - 1, where n is a constant (n = 1.158 * 1077, slightly less than 2256)
I think this question is somehow related to mnemonic phrase. I just have a hard time understanding this number. If I am not mistaken, this is a very huge number. Is this the range of number we can choose from to generate a private key? (n=1.158*10^77, slightly less than 2^2256) where private key can be a number from n and n-1 and n is a constant like you said, but this is an order of elliptic curve used in bitcoin, this is another field of cryptography. This is used in generating private key, But, when generating private key, the SHA256 hash algorthm will be used which is the same SHA256 hash algorithm used in generatng seed phrase, and in a way that this produces 256 bit numbers. In case of private key generation the number should not be less than 1 and should not be more than n-1, else, it will fail to generate but in case of seed phrase the number used fall within the 2048 words. So, seed phrase are generated in such manner too but in a way that the private keys are converted into words. So, we can say private keys are the hexadecimal formats of seed phrase which are in words.
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IntroductionHierarchical deterministic wallets make use of seed phrase to recover a wallet. Mnemonic phrase is also referred to as master seed, wallet back up or recovery seed/phrase. So, they serve as a back-up in case of wallet theft or damage. Bitcoin Improvement Proposal: 0039 (BIP39) that was approved by bitcoin community that most wallets are using today is referred to as mnemonic phrase. The English version of the phrase are taking from group of 2048 words containing in a supported wallet, they are known as BIP39 word list. For a 12 random word, the number combination that could be possible is 2048^12 and equals to 2^132 which will make the phrase 132 bit security, but the 12 word seed is 128 bits which means all the 12 words are not randomly selected but approximately have the same strength like private keys. The BIP39 support 128 to 256 bits that can generate 12 to 24 words. Bits of entropy Number of words 128 12 160 15 192 18 224 21 256 24 Common wallets that support BIP39Hardware Wallets Trezor Ledger Keepkey Cool Wallet Coldcard Software Wallets Support Bread Android, iOS Exodus Windows, macOS, Linux, Android, iOS Mycelium Android, iOS Samourai Android Coinomi Windows, macOS, Linux, Android, iOS Blockchain Android, iOS Copay iOS, Android, Chrome, Linux, Windows, MacOS Jaxx Android, iOS, MacOS, Windows, Linux, Chrome Blockstream Green Android, iOS Ownbit Android, iOS BlueWallet Android, iOS Enjin Android, iOS Wasabi Linux, Windows, MacOS The passphraseThis is the protection of seed phrase with password, this password makes it impossible to access the seed phrase without knowing password, they are called passphare, the passphras is required to access the seed phrase, some wallets call the passphrase seed extention and it is referred to as the 13th/25th word. BIP39 FAQCan I use the seed phrase to recover back my wallet? Yes, if the wallet support seed phrase called BIP39, it is a backup and can be used to restore back your bitcoin or any cryptocurrency stored on your wallet. Can I use the my wallet seed phrase to recover my bitcoin and altcoins on another wallet?Yes, it is very possible, but the wallet must support the cryptocurrencies you have on your previous wallet and must also support BIP39, which means the wallet should support BIP39 for seed phrase, BIP32 which defines account and BIP44 for multiple coin types. How can I back-up my wallet seed phrase?The recommended way is to get a paper and write it down with a paper. Having duplicate will be good and should be kept in different safe places. Also, it can be stored written on a metal or printed paper. Should I split my seed phrase into two?No, if one part is know to hackers, it can be used to generation others words possibly, the cryptographic security of the back up is can be compromised. But if you want to split it into two in a way that will make the words useless for hackers, you can use With text: Shamir's secret sharing and make sure you use 24 words phrase. Can I recover back my bitcoin or altcoin without without passphrase when enabled?No, it is not possible, be careful when choosing passphrase to protect your seed phrase. What should I do if I have forgotten my passphrase?If you remeber your access pin or password to your wallet and you can send out your coins to another wallet, it is advisable to send your coins to another wallet entirely, otherwise, your coins may be lost. How to recover bitcoin using seed phrase?Be careful of malware, it can result to bitcoin or altcoin loss to hackers. That is why hardware wallets are better use for this without connecting it to any device. Should I check back up regularly?Yes, check it often, read it often daily because it is memorizable but do not think you know off hand after memorizing it, still check it often and keep it safe. Can I back up my seed phrase on computer or cloud storage?Phones, computers including cloud storage like google drive and one drive are not advisable, paper back up is the best, be it written or printed. ConclusionThe BIP39 is a means of recovering lost bitcoin or altcoins, it should be back up and stored safely, also if it is passphrase, the passphrase should not be forgotten in order to be able to access the seed phrase. https://github.com/6102bitcoin/FAQ/blob/master/seed.mdhttps://www.blockplate.com/blogs/blockplate/list-of-bip39-wallets-mnemonic-seedhttps://en.bitcoin.it/wiki/Seed_phrasehttps://bitcoin.stackexchange.com/questions/80531/seed-restore-from-one-wallet-to-another
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Is Ledger Nano X the best crypto wallet (in terms of most secure and easy use for many coins)? I find that the seed phrase generated is potentially very troubling for two reasons: (1) If other people spot the seed phrase, they can take away all the coins. How do you keep the seed phrase long term? (2) I read that "generally a seed phrase only works with the same wallet software that created it". What if that software - Ledger Live is no longer available or workable in the future? Thanks for any relevant info.
You have to protect your seed phrase because if known to another person, it can be used by the person to compromised your wallet and all coins on your wallet can be stolen. The hacker can use another wallet which is not ledger nano to recover all your cryptocurrencies stored on the ledger nano x, this is so possible if the wallet the attacker use support the coins stored on your ledger nano x and support BIP39 also, the BIP39 cointain 2048 words and the wallet supporting it can generates 12 out of it and you can customize the words too. So, the reason for the a wallet to support certain type like BIP39 is to be able to recover cryptocurrencies stored on the BIP39 wallet irrespective dof the wallet use so far it also support BIP39.
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The best advice would be to log into your wallets from device, pc or smartphone different from the one that you use every day, so... to invest in an inexpensive device that only has the function of having access to your wallet.
One of the best way is what you said, having two devices, one should be strictly for wallets and exchanges and browsing should be so limited on the device. That is what I am doing to the extent that one of my phone is used for surfing the internet whole the other for wallet device and where also my google 2 fa app is stored. And that besides, I still make sure of safe ways to protect my wallets.
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This is really great as well got a wonderful Nigerian that have his people in mind, this time of coronavirus pandemic, we know how things are hard for people, movement is so restricted, and this makes so many people not to have access to work for their daily living earnings. So, this is a good example, and I am happy this came from our fellow Nigerians on this forum. To speak out my mind you are indeed a role model.
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I am so happy to see a section I and my fellow blacks could meet and discussed on this forum, Bitcointalk. It is so great, and I am not feeling strange like I was before, I do really appreciate the thread starter, Cryptopreneurbrainboss, for such idea he got to bring us together here on this forum. I do not have more things to say than we should always obey the forum rules so that we are not going to be banned and let us all in all time be proving on this forum that Africans is a continent that knowledge and wisdom dwells. Happy meeting you my people.
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As for me, even if I want to claim airdrop, I will like it to be from the exchange i am using which is regulated. As for airdrops through email, I would have known it is fake, I will not even check the email not to talk of clicking on any malware a link in the email may contain.
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Locked down or no lock down, scammers are always work. So, we need to be very careful of the sites we visit, checking is the site is truly legit is the first step. I make use of who.net to check a site domain, this has really helped me to know many scam sites and many that should be avoided. And about email, I orefer to not even give my email to any exchange or wallet, I make use of well known reputed wallet and I get the wallet using their official sites which also really helped. Even, if the site is legit, I do not give my email to any site at all, that is why I do mot even participate in any airdrop because most needs verification and they could be scam which can leads to phising attacked like the one in the picture above.
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2. Maintain different wallets, passphrases, and accounts. --> keep multiple, theyre free. Don't let a simple transaction reveal your Identity and link to all other addresses! Remove the links between your bitcoin addresses. If you receive bitcoin from many sources, and spend them in the same transaction, your bitcoin addresses will be linked together in that transaction. Instead, keep a separate accounts for saving and spending.
This does not mean your are completely anonymous, it can only reduce how you can easily be traced. The fact still remain that if using crypto wallet does not mean you can be completely anonymous.
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What is most important is to know how the price fluctuations of ethereum will be positive for you, even if ethereum price will grow more than $250 this year or very soon, it may also be possible that they price may fall. So, it is very important and necessary to always check the price and trade it for stable coin like tether if the market is not favoring at all, but if the price is increasing, better to hold until we make more profit from it. In my opinion, it is very likely that ethereum price will reach $250 again this year but we must think otherwise too and act fast to its bear or bull market in a way that will profit us.
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There are many aspect in blockchain, it can be used in cryptocurrencies, fashion, record keeping an in medical. I do not know much about other fields but in cryptocurrencies, the security depends on miners, the more the miners, the more how secure blockchain network will be. The miners makes it not possible for 51% attack to occur as a result of high hashes they are generating. That is why bitcoin is the most secure cryptocurrency because it has the highest hash power. So, a blockchain can be fully secure depending on how many miners are operating on the network. If the miners are not much, the hashes generated will be less and the network can be compromised by hackers.
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We do not know what the price of bitcoin can be in the next three years, all I know is that the price will rise and fall, good traders take advantage of this. But, if I will have to predict, bitcoin can never increase more than $75000.
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