Bitcoin Forum
May 07, 2024, 03:01:49 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 5 6 7 8 9 10 11 »
1  Bitcoin / Bitcoin Discussion / Re: Bitcoin core, Bitcoin xt, forks left right and centre, Where do i stand? on: August 11, 2015, 10:05:50 PM

Question 1 : No
Question 2: During the transition period if both are used at the same time only pre-fork coins though.

again, sorry for those questions. but i am neither a mathematician nor a programmer so some of the more technical aspects of BTC are to confusing for me..

2 questions:
- i keep the majority of my BTC on my trezor wallet. do i need to do anything in case BTC forks?

-No your coins will exist pre-and post fork its only new coins created after Bitcoin Core or XT separate that would be affected

- additionally, my my parents bought some BTC because i am told them too invest a little bit and they keep it in a armory wallet. do they need to do anything?

No as well their coins still exist pre and post fork

last question: some people in other threads mentioned that one could double their BTC if they switch to XT. is that correct? and if yes, is this doubling only for the people that switch at the beginning and people that don't switch immediately loose out on this opportunity? or will the amount of BTC double when the majority decide to fork? if i/we need to do something, how can someone using trezor and/or armory make this happend?

If some exchanges accept QT coins while others take XT coins
Your coins would be valid on both blockchains since they are before the forking occured and would trade with value until consensus is reached and one chain is abandoned.
'
and if someone goes travelling around the world by boat for 5 years... and they come back 5 years after 'their' chain has been abandoned? Would the average postman or butcher's wife know what to do?
2  Bitcoin / Bitcoin Discussion / Re: Bitcoin core, Bitcoin xt, forks left right and centre, Where do i stand? on: August 11, 2015, 10:02:38 PM
About a week ago I told a colleague about bitcoin and how I like the technology. He got more and more interested.

Then he learned about altcoins and the idea that even if distributed ledger is a great idea - it might not be bitcoin which is left standing.

... so he became less interested... but still considering getting into bitcoin.

Then he learned about bitcoin forks..

.... And he put bitcoin on hold.

...

Adoption of any blockchain backed currency is being hindered by the chaos we have at the moment.

If bitcoin could have been held safely and easily by individuals is still the main hindrance to adoption, but the mess of altcoins and forks etc is another unattractive chaos that is not helping bitcoin at all...
3  Bitcoin / Bitcoin Discussion / Re: Don't download bitcoin wallet from bitcoin.org...maybe the website is hacked.. on: August 10, 2015, 06:23:23 PM
Everything we think is safer than something else.... is only days from being proven unsafe.

Whether this particular thread was hacking, another problem, or Peter calling the wolf is coming - That is the state of bitcoin right now. The ability for normal people to keep wealth safe is the main area where bitcoin is lagging very far behind FIAT. Criminals probably find bitcoin safer already now because they are in danger of having funds frozen etc... but having criminals as the target market cannot break bitcoin into main acceptance... we need someone to come up with an innovation that allows bitcoins to be safe..and not in a constant rat race to stay ahead of the latest hacking idea.
4  Bitcoin / Bitcoin Discussion / Another huge problem with Bitcoin and the problems users have staying safe on: August 09, 2015, 09:14:57 PM
Imagine a wallet (hot or not) becomes the market leader and more than half the existing bitcoins are stored there.

Then imagine it's security is breached.

If this happens at a time when bitcoin has been mass accepted and it is a dominant currency to store wealth in world-wide - then a criminal could be in possession of half the wealth in the world.....

Sounds surreal and could not happen in a FIAT system.
5  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 09, 2015, 01:39:19 PM
It is far to unsafe to store any real wealth in for the average person.

I'm an average person. I've been using Bitcoin for over 4 years now. I've never lost a single coin.

.........

So... I'll rephrase your post as follows: It is far too unsafe to store any real wealth in for the irresponsible, ignorant, unmotivated person. As it should be.

First of all, you are unlikely to be an average person. All of us in here are likely to be interested in bitcoin and perhaps even technology more than the average person.

.......

I think some people need to consider that just because they are average among their peers - they might be far from average compared to the rest of the world.


Bitcoin is far far far from ready for mass adoption because of security issues.


the good part:

that is the reason why are have bitcoin at 250 USD and not 25.000 USD  Wink

True Smiley
6  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 09, 2015, 01:57:02 AM
The site owner can just record all the pass phrase type on their website.

Yup... This is why you should have a different pw for every site/exchange/etc.

Doubt he was.  but if you have a virus you're screwed anyway.
Real cold storage = computer never online.  Don't know if people
are ignorant of that, keep forgetting that, can't seem to bother,
or "think it will never happen to them".  Cold storage, people.
COLD STORAGE!



Ask 1000 random people in a mall what cold storage is... and I guess 0 to 1 will have a clue what it roughly means. Among actual owners of BTC I guess a large proportion are uncertain about all the details in creating perfect cold storage.

This is a case of - once we know how, it seems so simple, but for someone who doesn't know it is so far from anything we have done before that we cannot even imagine what it is or how it would be done.
7  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 09, 2015, 01:52:31 AM
It is far to unsafe to store any real wealth in for the average person.

I'm an average person. I've been using Bitcoin for over 4 years now. I've never lost a single coin.

All it takes is some responsibility. I learned enough (common sense really) to realize that private keys were the "key" to security.

Average Joe wont do that  Undecided.

Like it or not, we will have bitcoin banks (we already have Coinbase etc but that is just the beginning.)



then that pretty much is full circle and defeats the whole purpose of alt to fiat currencies.

the upside to cryptos is they put you in control of your money.

the downside to cryptos is they put you in control of your money  Shocked

simple rule don't put anyone else in control of you cryptos Wink otherwise ur better off sticking to fiat.

If that is the final word - and keeping BTC safe cannot be made much easier than it is now...then BTC will not be the mass success we want it to but rather be (and remain) a nice technology used by a small niche of enthusiasts.

Personally I don't believe that is how it will be. I think we are where Internet was in early 1990ties and with all the promise but also the same lack of proper user interface for easy use.

Solutions that will make it very simple and easy for everyone to keep their BTCs safe will be innovated I think.
8  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 08, 2015, 11:04:53 PM
This is still th biggest hinderance to bitcoin getting mass recognition.

It is far to unsafe to store any real wealth in for the average person.

Exactly, and the all the useless posts that usually accompany such sad events saying the victim should have done this or that, or used this other wallet, or they were foolish for using said wallet, or site, will not change this basic fact. Until a secure wallet can be developed that doesn't take a month of hard core research to figure out all the ins and outs before using, the average Joe will stay away.



Downloading Electrum and installing it doesn't require any hard core research and making offline cold storage wallets with it or with downloaded bitaddress doesn't take any hard core research either, if you're too careless with your money and use online tools to generate addresses or store funds in online wallets than sooner or later you'll get robbed, it's same like keeping your fiat with unknown strangers and expecting that they don't steal it.

Any average Joe who's familiar with Computers and Internet can easily maintain Cold storage wallets for bigger funds and a Hot wallet for day to day expenses, it's not the problem of bitcoin, it's just that people take things too lightly.

I think you unintentionally made my point. For one, your caveat "average Joe who's familiar with Computers and Internet" is not an average Joe. Sure a lot of people can probably logon, check their email, Facebook, etc., but I would not consider them computer savvy. They have a hard time adding a printer or setting up a backup to an automated external drive. Why do you think the plug and play or zero touch configuration market is so huge, most people just want to download an app or program, plug in a device, or use a website and be done.

How are they to know Brainwallet is any less secure than Electrum without putting some time and effort into it? In most cases it would be more than simply visiting a few websites as their technical competence is not as high as almost anyone posting here and they would have a hard time understanding what makes one more secure over the other.

The average Joe I referenced puts his fiat in the bank, if bank gets robbed or if his CC gets compromised, he is still ok with minimal (maybe $50) or no liability. This same Joe maybe hears about Bitcoin, does a bit of research and all he sees is hacked wallets, hacked exchanges, scams, Mt Gox was a scam, etc. on and on. This is what is keeping Bitcoin from exploding. You are not getting 10's of millions of users until much more progress is made in this avenue. it is not simply making something more secure, it is making it more secure and something your grandma, barber, bartender, car mechanic, waitress, little league coach, and so on can use. I think hardware wallets are a step in the right direction but much more needs to be done on all fronts.

Amen
9  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 08, 2015, 06:55:43 PM
I have generated most of my wallets through brainwallet.org.But the address that got hacked was the only that I used to create a transaction via brainwallet.I don't remember my passphrase since I was just smashing my keyboard writing random characters for about 10-15 seconds it must have been at least 50(though I think it was more than 100) random nonsense characters.I then just copy the addresses and private keys to a notepad and forget the passphrase forever.I am almost sure it has to do nothing with the passphrase.

they could be scraping or using weak rng...and maybe some fancy elliptic curve calculation where they can determine your curve points once the transaction is made.

i think serious cold storage efforts should involve rolling physical dice.

A million opinions on what the best way is...and every time something goes wrong a million explanations regarding what could have gone wrong.

This inspires trust in bitcoin only in the most naiive.
10  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 08, 2015, 06:53:56 PM
It is far to unsafe to store any real wealth in for the average person.

I'm an average person. I've been using Bitcoin for over 4 years now. I've never lost a single coin.

All it takes is some responsibility. I learned enough (common sense really) to realize that private keys were the "key" to security. After that, it's child's play.

Create secure private keys offline, keep them offline, and your bitcoins will be quite secure.

Learn a little bit about shamir's secret sharing and you will have an asset that is more secure than any traditional asset known to man.

Data is easy to copy, so do it!

There is reliable, open source software which will accomplish all your bitcoin security needs without any additional education (beyond the basics I just mentioned) for the user.

So... I'll rephrase your post as follows: It is far too unsafe to store any real wealth in for the irresponsible, ignorant, unmotivated person. As it should be.

First of all, you are unlikely to be an average person. All of us in here are likely to be interested in bitcoin and perhaps even technology more than the average person.

A grandmother in Ukraine working in the super market all day might have zero interest in learning any of the things you talk about. A sheep herder in Nigeria (remember that BTC is supposed to be especially good for the unbanked in the third world..) would have a hard time figuring out how to do simple things in Microsoft Word.

I think some people need to consider that just because they are average among their peers - they might be far from average compared to the rest of the world.


Bitcoin is far far far from ready for mass adoption because of security issues.
11  Economy / Scam Accusations / Re: (Almost sure)brainwallet.org stole 22BTC from me on: August 08, 2015, 01:00:29 AM
This is still th biggest hinderance to bitcoin getting mass recognition.

It is far to unsafe to store any real wealth in for the average person.
12  Bitcoin / Bitcoin Discussion / Re: How is bitcoin better than litecoin? on: August 07, 2015, 10:03:46 PM
In one way.

But the way that matters...

...

Critical mass.

Has someone made or could make a social networking site better than Factbook? Of course.... but it doesn't matter the slightest because Facebook has critical mass.. and as long as they don't f%¤# up they will be dominant.

Was VHS better than BETA video tapes? No... in fact most experts said that BETA was technically supirior... but VHS got the critical mass...

That's it... and that's all.
13  Bitcoin / Bitcoin Discussion / Re: Best alternative to blockchain.info? on: August 05, 2015, 10:30:10 PM
Before anyone leaves blockchain.info consider what people connected to other exchanges and wallets will say about their biggest competitor?

I call 'attempt to ruin reputation to steal market share'.

In my opinion blockchain.info is still the best online wallet by quite a distance.
14  Bitcoin / Bitcoin Discussion / Re: The MOST COMPREHENSIVE LIST of potential Satoshi candidates on: August 05, 2015, 10:26:05 PM
Whatever...

I still think it is Dorian.
15  Economy / Scam Accusations / Re: Blockchain! They steal me there my firsts bitcoin :P on: August 05, 2015, 10:20:36 PM
After broad agreement that blockchain.info is one of the best if not the best online wallet - suddenly the recent couple of weeks we have horror story after horror story and people saying they have closed their account there etc..

I wonder if some competitor(s) wallet(s) are targeting blockchain.info and trying to capture customers...??
16  Economy / Speculation / Re: Bitcoin 10k when? on: August 04, 2015, 11:48:23 PM
Nasdaq is already dead.

because of the lack of trust in the stats.


Bitcoin is pure stats. system ... people and traders will like this when time come (trusted value = fondamental restored).

you are both dumb and delusional if you dont believe that bitcoin needs the legacy financial system to succeed.
Wrong, the Nasdaq needs Bitcoin to succeed. Nasdaq tranactions will all be run over the blockchain or over a sidechain in the next decade. All other options are objectively stupid and deprecated by Bitcoin's superior technology. All banks are old versions of what Bitcoin can do. Theres no turning back.

Let's get real for a second. Bitcoin is based on cool technology.. and should be superior in many ways than current systems. However, it absolutely does need the financial and legal system to succeed.

Nasdaq would be great.
17  Bitcoin / Bitcoin Discussion / Re: Transactions speed prevent us from going to Mainstream ? on: August 04, 2015, 12:09:32 AM
Because we don't want bitcoin to go mainstream until everyone's grandmothers can easily store their bitcoins.... the current solutions are either unsafe or way too nerdy for mass-adoption.

+1
I was helping someone set up a wallet (Mycelium on Android), and since I insisted, I walked him through creating a backup of the key, written down on paper.  I have no idea what happened to this backup, and if I wasn't there, the average person may not have even made one, or lost it somewhere.

People are not used to the importance of protecting money in this way:

If you lose your checkbook, you get the bank to put a hold on it, and issue you a new number, if necessary.
If someone forges a check, the bank will reverse it.
If someone steals your credit card, you get a new one, and you are covered for most fraudulent transactions.
If you have gold coins, you keep them locked in a safe.
When you carry cash, you keep a limited supply, and you keep it close.

Bitcoin has an entirely new security model, which non-geeks are not familiar with. We need a solution for the masses before it's safe to release Bitcoin to ordinary people.

As it becomes more mainstream, I think more businesses will get involved to make the payment process easier, to the point where it's just an NFC tap, similar to paypass on a credit card.

You are msiunderstanding. We are not talking about the payment (although that also needs a bit of innovation), but rather the storing of them. The storing them safely is where bitcoin really needs some innovation.
18  Bitcoin / Bitcoin Discussion / Re: Transactions speed prevent us from going to Mainstream ? on: August 03, 2015, 10:22:51 PM
No it doesn't. And if it does - it is a good thing.

Because we don't want bitcoin to go mainstream until everyone's grandmothers can easily store their bitcoins.... the current solutions are either unsafe or way too nerdy for mass-adoption.

If we have mass adoption before it is safe - he will have so many horror stories of hacking etc that bitcoin will get a horrible name, and might die as a result.
19  Bitcoin / Hardware wallets / Re: Change in BIP32 will make Trezor 1.0 useless? on: August 03, 2015, 09:21:36 PM
This whole thread is pretty much just FUD.
Any relevant change to protocols will be implemented as a firmware update to Trezor devices.

Trezors are not 'subject to failure' as far as I know.
Paper is hardly more secure or long-lasting.
Well I am no expert. I was just looking at what Andreas said.

The issue he's talking about is that it gets harder to change a protocol when it starts to become embedded.
It's not that the protocol changes can't be released as an upgrade, it's more that there are many devices that will never get upgraded for various reasons. Think about stuff like home routers, for example, that never get an upgrade.
If the network stops completely, people would either learn how to do it, pay someone to do it, or buy another router

Bitcoin involves their money, so I'd think the incentive is there to get the upgrade particularly if they can no longer access their money. Upgrades that just add features will likely not get done.


Even if there is are many reasons to upgrade they will not get done if people leave the hardware wallet in a bank vault for x years. Many people want wealth they can treat like that.
20  Economy / Speculation / Re: 21 millions bitcoiners on: August 02, 2015, 08:47:18 PM
Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.

There's no "too expensive" term.
People will buy what they can.
Much, much probably, 21 millionth Bitcoin adopter won't be able to buy an entire Bitcoin anyway.

Yes. Perhaps "buying a bitcoin" will sound like "buying a Billion $" sounds to us now...
Pages: [1] 2 3 4 5 6 7 8 9 10 11 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!