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Recently, I came over a Bitcoin advertisement from Bitcointalk (theymos has enabled some advertisements for Bitcoin itself) but it seems some statements are a bit outdated. For example, one advertisement says Bitcoin is still beta software and it looks like more like a statement from a Bitcoin critic:  Personally, I would not expect such a statement in a Bitcoin forum because after 15 years, Bitcoin is very proven and not really beta software anymore. Maybe it's time to remove some advertisement slogans once getting outdated? |
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Manchester City are one point behind Arsenal but it still lacks one more game in addition to the two last rounds so a total of 9 points comparing to gunners which only could collect 6 points.
Manchester City really needs Haaland in his best form. He can achieve some wins for Manchester City, where he can be a deciding factor. His ability to score goals is unprecedented and Manchester City's players are well adviced to search him, to give him scoring attempts and Haaland will likely convert to goals for Manchester City, which Manchester City really needs in such a tight battle. I believe Haaland will be a deciding factor for Premier League. |
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There is too many chains and coins.
Just select an established chain or coin like Bitcoin and Ethereum and you will be probably safe. Most TOP coins are very established already and you can make a good decision by selecting established coins. Such coins will be much safer to be still leading in a few years. |
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A trading competition is happening at a local exchange in my country. The exchange is a trusted and established one and I have zero doubt about the $SHIB tokens I can receive as a reward in my Shiba Inu exchange wallet. I have been using this exchange since 2018 without any major issues, so you can understand the amount of confidence I have in them.
I mostly invest in Bitcoin, and sometimes in important altcoins. However, I don't believe in the concept of meme coins and don't pursue them. I'm interested in knowing whether I should continue holding onto my current tokens until the next bull run, or if I should sell them to buy Bitcoin or other altcoins. I would appreciate a piece of good advice from the community.
Yes, buying Bitcoin is your best move you can make. Memecoins can lose value pretty quickly while Bitcoin is much more safe to lose value. No one knows where Shiba Inu will be in a few years but we can be sure about Bitcoin to be a leading coin even in a few years. |
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When it comes to memecoins, it needs to be mentioned: Most "Memecoins" are not even coins, most "Memecoins" are tokens.
Often, it is just a marketing move to designate a crypto asset as "Coin" but in reality, it's a token.
A coin is based on its own, unique Blockchain, like Bitcoin, Litecoin or Dogecoin
A token is based on an existing Blockchain, like Ethereum tokens (for most ICOs) or based on BNB (for many Memecoins).
And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.
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Which altcoins have performed the best in terms of price growth in 2024 ?
Dogecoin had big gains recently but it is generally better to avoind Memecoins. Doge is a special case because it is unique, which we have very seldom from Memecoins. Dogecoin is an original coin. Most "Memecoins" are not even coins, most "Memecoins" are tokens |
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Solana is not very ready to tackle challenges a TOP 5 coin needs to tackle.
For example, it is very centralized and decentralisation will be an important topic to tackle. Even Ethereum is sometimes accused to be too centralized.
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I recently created a post asking if I should buy bitcoin now or wait for the dip, and majority of the response I got from the post, advised that I should buy now rather than waiting for the dip due to its volatile nature, and I'm satisfied with this response and I'm willing to bear the risk.
Reason for all these questioning, I have a dream of becoming a long term bitcoin holder but, dreams aren't achieved with words alone, an action is needed for the start up, so I have decided to sell one of my less used phone for the purpose of buying bitcoin.
I'm really eager to purchase my first bitcoin in satoshi.
Technically, Bitcoin gets more expensive every day because it's getting more scarce. Less Bitcoin will be available to be traded every day, especially now due to Bitcoin's halving which only occurs roughly every 4 years. It's important to just HODL because you'll avoind any short-time price speculation by doing so. |
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Here's a detailed answer to your question; Taproot (P2TR; pay-to-taproot) addresses are not necessarily cheaper in total but for some cases, it’s recommended to use P2TR:  All four described output types satisfy single-sig usage, although P2TR can do a lot more under the hood. Generally, the transaction cost is cheaper for newer output types: Legacy > Wrapped Segwit > Native Segwit. While the overall cost of P2TR input and output is slightly higher than that of P2WPKH, P2TR shifts a portion of the cost from the input to the output. When you don’t know at what feerate you’ll need to pay to spend your funds later, you should keep them in P2TR outputs, since they’ll have the smallest input cost. Likewise, you should prefer P2TR when others are paying you: the sender pays the output cost while the recipient pays the input cost. Although, you may still bump into some counter-parties that cannot send to bech32, and many that cannot send to bech32m, yet, the economic incentives are clear. If your preferred wallet or service doesn’t support bech32(m) yet, please do ask them to do so.
If you’re considering your transactions’ data footprint on the blockchain, you should also strictly prefer P2TR as it get you the most bang for the byte (see column “raw B” in table above). The data footprint for the output types is P2SH-P2WPKH > P2PKH > P2WPKH > P2TR. More information can be found here: https://murch.one/posts/single-sig-output-types/ (scroll down to "Cost considerations") |
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Privacy is a costly good and we really need to consider how to protect our coins by maintaining a good privacy. As we know from Bitcoin, all address connections are public, possible to track via Blockchain analysis for everyone. Sending a transaction from one of our addresses to another will cause a connection, not limited if it’s our own address or an address from someone else. It is up to us to maintain a good privacy and avoid that our coins to tell too much about us. Bitcoin is not private but it can be private if we are careful enough to maintain a good privacy. When trying to maintain a good privacy, we can divide it into 2 major points: - Taking steps by ourself to maintain privacy - Services to enhance our privacy I've covered point 1 in my topic "Check twice before sending transaction if it will impact your privacy negatively", so let’s go to point 2 now: Centralized privacy providers have a single point of failureWe might have heard about it, but centralized services can be seized. Recent examples are several mixers like ChipMixer and Sinbad.io but also privacy enhancing wallets like Samourai Wallet. As theymos also knows: governments are good at shutting down centralized services if there’s a so called single point of failure, in our case developers which can be arrested and centralized services, which can be seized, online websites, which can be shut down. And here, we have also to consider to be very careful. Seizing such services will always be a risk to bust our privacy. If privacy services are seized, it'll always be a risk of mixing logs to be leaked and address connections to be revealed. As it happened to ChipMixer, when several Terabyte of data was collected, among it very likely logs but also private keys (Chips from ChipMixer), where several customers of ChipMixer have reported about coins from such "Chips" being transferred to a different wallet. We also have to fully trust centralized mixer operators to be honest and to delete logs, which is a big security risk. Centralized services are somehow against Bitcoin's nature of a decentralized system as we have to trust a middleman, while Bitcoin is fully P2P. Centralized privacy providers can be honeypotsA honeypot website is a website which is set up and operated to collect certain confidential information on purpose. When people are visiting a honeypot site, various confidential information will be scraped and stored, like your IP address or your entered information but not limited to. Such data is very valuable for any investigation of crime or business purposes like identifying which wallet belongs to an individual, a company or which interactions an Bitcoin address reveals. For some cases it might be helpful to catch scammers and hackers but for our privacy, a honeypot website should be avoided, of course. Honeypots are posing a serious danger to our privacy. We might believe it's quite a normal website and our information is treated confidently, while in reality, any of our data will be stored. In addition to our IP address etc., entered Bitcoin addresses will be scraped, stored and forwarded to any entity. Addresses will get reviewed and address connections will get revealed. For privacy enhancing services, we might even pay a fee and not only get nothing in return but also have a privacy risk of believing our Bitcoins are mixed but in reality, logs are kept. In case of a deliberate honeypot website, deem any privacy assurances as disposable. I've written more about Honeypot websites here: "Honeypot websites are dangerous for our privacy - BEWARE"Conclusion: we should not try to maintain our privacy by relying on centralized services as such centralized services are likely to be shut down and such services are full of risks and red flags due to requiring a middle man, when it comes to maintain a good privacy, while Bitcoin is fully P2P. PrivacyOui |
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Simple task, crucial for maintaining privacy:
Certain transactions from one of our addresses to another of our addresses might reveal address connections, possible to track via Blockchain analysis for everyone. As we know, Bitcoin's Blockchain is a public ledger.
Sending a transaction from one of our addresses to another will cause a connection, not limited if it’s our own address or an address from someone else.
It’s inevitable.
Check twice, if your address, where you are planning to send BTC to, was used previously and if you can afford to have an additional connection to certain addresses.
Such connections might affect your privacy negatively for following cases but not limited to:
Used addresses for previous business
Your address where you are planning to send coins to has been used for previous business, where your business partner can track all additional transactions. Always check twice, if your address has been used for previous business and for what business exactly. To keep your privacy, never use and mix addresses from previous business
Address has been public
Your address where you are planning to send coins to has been posted publicly on an internet site. If your address where you are planning to send coins to has been posted publicly on an internet site, you need to consider your privacy to be somehow compromised and affected negatively, as more conclusions about your transactions can be drawn publicly, for example tied to a social media account or your Bitcointalk account.
Don’t mix KYCed and private coins
You are going to mix KYCed coins, possible compromising your privacy. Every time, your private coins and your KYCed coins are mixed, more can be found out what you have done before for your private coins as such coins are now also tied to your real information. Always be careful when mixing your private and your KYCed coins.
For every additional transaction on one address, more conclusions about you, as owner, can be drawn. Always consider to have a new address instead of address re-use.
Keep in mind: Bitcoin transactions are not reversible. Never. Once you've done a transaction and it’s included in a block, transactions are not reversible anymore.
Afterwards, you might regret doing a transaction because you might notice it's compromising your privacy.
Check twice before sending a transaction if it’s going to impact your privacy negatively!
If in doubt, better take measure to prevent unwanted linking of your addresses and coins to maintain your privacy!
PrivacyOui
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It's working for me, maybe try later again and see if it's still an issue?
In case more people can't access it, I'll do a new archive.
It seems that it's cached in your browser but it also doesn't work to me I already tried it on some checker and this is the result: Interesting, because I've just checked from a different device and it's working. archive.fo / archive.is is still available for me as well. And also VPN... I suggest put all archives in archive.org instead.
It seems archive.fo, archive.is and archive.today all of them do not work and according to the check its a week down.
Good suggestion. I've added an archive.org version as well now. |
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I don't know if it's just me or if there is a general problem, but I can't access this achieve you posted. I am getting a ' site can't be reached error' every time. It's working for me, maybe try later again and see if it's still an issue? In case more people can't access it, I'll do a new archive. Speaking of VPNs, they are the perfect honeypots that government agencies can use to catch bad actors thinking they are protected. Maybe you could focus your research on them and see what you come up with.
Good point, VPN can be a big honeypot because everyone will expect it provides a safe privacy. Similar to a centralized mixer operated as a honeypot site. I don't know about any proven VPN honeypot but maybe someone else knows and can share his knowledge. |
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Except being closed-sources, do you have some examples of "red flags" I can spot easily? Do you have some clues to be sure that a service is probably not good?
I'm not a coder and I can't review code, even if it's open source. In general, honeypot websites are hard to detect because honeypot websites will try to stay undiscovered to get as much data as possible. No honeypot website will push, how it is a honeypot website. Best red flags are community fedback or proof, where someone has review website code, it got leaked how a site is a honeypot website, like a media report, coder review or a forum post. That's indeed a big problem. And you're indeed raising a good warning. But what's the way forward then? I guess that should be the more interesting part. Otherwise, we end up just talking about a problem we don't have a solution to. How can everybody then beware of such sites?
It's a very difficult queston because honeypot websites are extremely difficult to spot. Of course, a honeypot website will stay undiscovered to be a honeypot website. For normal people, only publicly proven websites might be entirely possible to avoid. It's not possible to spot as a normal person, even experts might not know it because it's a sophisticated honeypot.
Because for most sites, it's not possible for normal people to spot if it's a known honeypot website or not. Isn't it troubling? So, should we just avoid the internet as much as possible? Or should we use VPN all the time? Or should we all shift to the use of TOR browsers? What would your advice be to minimize or perhaps to completely avoid exposure to these dangerous websites? It is troubling because honeypot websites are cleary set up to be a honeypot for a long time and stay undetected. VPN and general privacy advice is a very good point and in addition, we should always do a good research about proven honeypot websites. Because like Walletexplorer, it's containing a fine print, possibly because of EU or US data protection law, where it is mandatory to make any such practice public. So, it is available for us to know it's a honeypot website and we just need knowledge about it. We can also help to spread knowledge when we know about it. And we need good coders to review open source code and to report if it's a honeypot website. In addition, open source code should be our selection over closed source code. To share knowledge about proven honeypot websites, I've set up a new topic where we can collect proven honeypot websites: Collection of proven honeypot sites – BEWARE to protect your privacy |
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Proven honeypot websites – BEWARE! Crystalblockchain.com Bitcoin block explorer | proofWalletexplorer.com | proofCipherTrace.com Bitcoin block explorer | proofContested claims
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After considering what to do, how we can spot honeypot websites, a really difficult task, I believe a community collection of known honeypot websites is a good idea. When many people share knowledge because we might have seen a honeypot website already or know about it, we can share it here, make our knowledge available to protect more community members from getting victim of proven honeypot websites. General privacy practices, like VPN for example, are also important but here, we will focus to collect proven honeypot websites. To protect your privacy it's advisable to avoid any proven honeypot website. I've compiled a list of known honeypot websites, what I'm aware of so far, to make aware of it and I’ll expand my list from community feedback.
What's a honeypot website? A honeypot website is a website which is set up and operated to collect certain confidential information on purpose. When people are visiting a honeypot site, various confidential information will be scraped and stored, like your IP address or your entered information but not limited to. Such data is very valuable for any investigation of crime or business purposes like identifying which wallet belongs to an individual, a company or which interactions an Bitcoin address reveals. For some cases it might be helpful to catch scammers and hackers but for our privacy, a honeypot website should be avoided. Examples for honeypot websites can be: - A block explorer website, where IP information is collected from visitors entering Bitcoin address(es), tying IP address and Bitcoin address. Your IP and Bitcoin address(es) will be collected, stored and possibly forwarded, where such data is getting tied and analyzed.
- A Bitcoin mixer, where logs are kept to de-anonymize transactions later again. Once your mix is finished and you are believing your incoming and outgoing transactions are separated, the honeypot operator will still be able to know which coins are yours by connect ingoing and outgoing transaction.
- A software or hardware wallets (closed source), where personal information like IP addresses and Bitcoin address(es) for example are collected, stored and possibly forwarded, where such data is getting tied and analyzed.
In any case, a honeypot software or hardware wallet is always closed source because if it's open source, any experienced coder could find out about it by reviewing code.
Why are honeypot websites dangerous for our privacy? Honeypots are posing a serious danger to our privacy. We might believe it's quite a normal website and our information is treated confidently, while in reality, any of our data will be stored. In addition to our IP address etc., entered Bitcoin addresses will be scraped, stored and forwarded to any entity. Addresses will get reviewed and address connections will get revealed. For privacy enhancing services, we might even pay a fee and not only get nothing in return but also have a privacy risk of believing our Bitcoins are mixed but in reality, logs are kept. In case of a deliberate honeypot website, deem any privacy assurances as disposable. To avoid getting victim of honeypot websites, we'll create a collection of such websites. How to contribute to our collection of known honeypot websites? To participate here, you need to give a sufficient proof about any honeypot website. Like an official statement, exposed code or verified insider information. Any unproven speculations, especially from competing projects are not enough proof to list a website as "proven honeypot website". Such websites might get listed under "contested claims". Only websites allowed, where visitors are misled and / or are facing an unexpected and deliberate danger of privacy risks compared to competitors. My collection only covers honeypots related to Bitcoin. Please note: any website can be a honeypot. |
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Normally, knowing to store coins on an exchange wallet isn't a good idea, was common sense already for a long time.
But after what happened to FTX, where an mostly unregulated exchange collapsed due to passing customer funds undisclosedly to shady yield farming nonsense, it's surprising for me, how someone still can sleep calmly when his coins are stored on an exchange wallet.
It's abhorrently risky.
We need always to know "not your keys, not your coins" is crucial to know about.
Good reminder, @OP!
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There is still no mandatory KYC as of writing otherwise there's likely gonna be an announcement for it. A snap from my unverified account:  Nice to have a proof from your original account. MEXC seems to be still a reliable exchange, where KYC should not be an issue if our coins are not from shady origin. |
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I would like more information on how to determine that a particular site is a honeypot.
It's not possible to spot a well-coded honeypot website because how much sense does it make for a malicious honeypot website to say "hey, I'm a honeypot website". All malicious honeypot websites will try to hide it as good as possible. Always closed source, if legally required in countries, where data protection laws are in place, like EU, it will simply be only a small fine print - if at all, like walletexplorer.com has added a small fine print after many accusations piled up. Or, no mixer will say: "hey, I'm a honeypot mixer". It's not possible to spot as a normal person, even experts might not know it because it's a sophisticated honeypot. I haven't seen your guidance other than saying you must be very careful.
Because for most sites, it's not possible for normal people to spot if it's a known honeypot website or not. In addition, the sites may be identical to real ones, and the site address must be carefully checked. Sometimes the difference can be just one letter or dot.
Do you have any example? I only know it from scam and phishing sites. Honeypot websites are created not only to collect privacy information and they can be used for different purposes like attracting people's capital. Then they will do rug pull to steal money from people who believe honeypot websites are legit and good ones.
Yes, Scam and Phishing websites are also a problem. |
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