I guess trusted is a relative term.
I wouldn't trust that exchange at all. No reason to use an unknown exchange with low trading volume and unknown security measurements if you can use way better exchanges.



Oh, you are right!


Wow! It seems they had their exchange online 8 years before bitcoins first block got mined!

1)
MegaBitcoin is a scam coin, just as 99%+ of all cryptocurrencies. Keep away if you don't want to lose your money.

2)
Don't use a web wallet. There is literally no reason for you to use a web wallet. Just download a reputable wallet software and use that instead.
For a desktop wallet, electrum is a good choice. Just make sure to only download it from the official website and to verify the signature.

With a web wallet, you are vulnerable to all of the same attack vectors as using a desktop wallet. But additionally there more concerns regarding security and safety when using a web wallet in comparison to a desktop- or mobile wallet.

You shouldn't assume that.

Just because some of your posts don't break the forum rules, this doesn't mean that they add anything to the forum.
Most of them are just extremely low effort posts.

Almost all of them are one-liner. Do you really think this means "doing everything right" ?

Luno..


Sure.. there literally is not a single more trustworthy exchange than some new random unreliable and unknown exchange which got the domain 1.5 months ago.
And not giving out any private informatics about the company or the owner of the domain also makes it really trustworthy. 

@OP
There are quite a few reliable exchanges. Depending on where you are from, you can have quite big choice.
But.. don't touch luno. Don't touch any new exchange at all. Stay with the most known and reputable ones.

This is a forum, not a bounty portal.

You should refrain from the idea of joining this forum to make a quick buck.

If you are interested in the mechanics of cryptocurrencies and especially bitcoin, its security, usability and technical background, this definitely is the place you want to be.
But if you on the other side are interested in earning some money by doing bounties, i am sorry to disappoint you, but that's not the correct place for you.

Instead of crawling through those bounty threads which offer worthless shitcoins and working for a few cents per hour, selling your personal information for less than a single $, you should truly consider getting a job. You will earn more money faster that way.
Most (if not all) ICO's are a scam anyway.

Just because there are some numbers displayed and marketed as "users depositing" or "users withdrawing", it doesn't mean that's true.
Anyone can display numbers on a website. This is just done to deceive potential victims.

Obviously, this is a scam. And i hope people already realize that those "doubler sites" are a pure scam.

Or.. don't use any website to create a paper wallet and therefore reduce the amount of attack vectors by a not marginal number.

Creating a paper wallet offline without any website/javascript is not as hard as people may think.

Just boot a live linux distro on an offline computer, use the inbuilt openssl library and the inbuilt RNG to generate a private-/public keypair and the address. That's it.
If you insist on using a master seed or mnemonic code as a paper wallet, that's a few more steps, but still easily manageable.
I really don't get the trend of using websites to create a paper wallet. This is so much more riskier (e.g. JS library buggy, JS code buggy, malicious code, ... ).

Quite some time ago they added the features to (almost) completely adjust the fee.
Even though you can't directly type the fee you want to use, the slider lets you always choose 1 sat/B.

It is divided into 4 groups (low-priority, economy, normal, high-priority), of which each group has 10-12 fees to choose from.
That's a bit inconvenient that you can't choose the exact fee, but i guess its good enough for not that techy people.

A mnemonic code (also called seedphrase, and also wrongly called seed) is a representation of the seed using 12/24 words.
A seed is a 256/512 bit number used to derive the master private key.
The master private key is used to derive child private keys (the "standard" private keys you use to sign transactions).

When creating a wallet, it works like that:
1. Get big random number (= Seed)
2. Convert Seed to mnemonic code for simplified backup
3. Use the Seed to generate the master private key
4. Use the master private key to generate private keys
5. Use private keys to generate the public keys
6. Use public keys to generate addresses

Bitcoin core simply just skips step 2. It does not create a mnemonic code out of the seed. The wallet file (or master private key) is the backup.

Bitcoin Core is using a master seed. Just like any other HD wallet. That's basically a requirement for a wallet to be called a HD wallet.

What you (probably) meant is, that bitcoin core does not encode the seed into a mnemonic code (12/18/24) words.
However, this is just a representation for the master seed for more convenient backups. Core does still use a master seed to derive all private keys.

Here (in germany), they claim it helps preventing the spread of the virus (infected people with mask protect the others). It is clearly communicated that they don't protect the wearer of such a mask.
But there is no study which really confirms the claim that it helps preventing the spread. Or rather, there are controversial studies with different results.

So i guess that's either a "this specific study said that.." kind of thing or some kind of reassurance of the population.

The miner who included your transaction into a valid block receives the fee.

A full node is validating blocks to have a correct copy of the blockchain stored locally.
It does not receive any fee at all.

You may have mistaken it with a node in the lightning network ?
People are able to route money through your channels and you can demand a fee for that.

Unfortunately not.
You would have been able to restore a few chars, but definitely not 20.

By the way, if you don't have an offline backup (not stored on your computer), you don't have a backup at all.
Any incident affecting your computer (electrical short, ransomware, .. ) could have lead to a loss of the private key.

Storing a backup on the same device as the wallet is not a backup at all.

SPV is a technique to verify payments (therefore Simplified Payment Verification).
All SPV wallets are lightweight clients. And all lightweight clients use SPV.

You can't distinguish between "SPV" and "light wallets" the way you are doing.

Jeder, der den mnemonic code hat, kann sich all deine private keys ableiten.
Dazu benötigt man keinen Ledger, irgendein Desktop oder Mobile Wallet tuts da auch.

Dein Ledger funktioniert selbstverständlich immer noch. Es haben einfach mehrere Leute zugriff auf das gleiche Wallet (vergleichbar mit einem geteilten Bankkonto).

Es gibt hier keine zentrale Instanz die Zugriffe zulässt oder ablehnt. Jeder der die privaten Schlüssel hat, kann die damit verbundenen Coins ausgeben und Transaktionen signieren.

It is not that easy.
First, you need to define the scope. What exactly does count as an attack?
Attacking the availability is always possible (from within the range).
Attacking the confidentiality or integrity of the data is not as easy as you think.

Sure, if you are using outdated technology (outdated router or WEP), than it takes less than a few seconds to minutes to enter your network.
However, with an up-to-date router software and a proper encryption, there currently is no known way to intrude a network through 802.11x.

No, they literally don't protect you at all.
Even the protection from the persons surrounding you is controversial. Some studies show a slight effect while others show that there is no effect at all.

You need at least a N95 Mask to be somewhat safe.

That's correct.



That's not possible.


I would recommend you to stay away from such low value coins - especially master node nonsense.
The majority of them (probably 95%+) are a pure scam.

There are funnier ways to lose money, no need to invest in scam projects.

I wouldn't call one of them less secure per se.
Paper wallets where the private key (or seed) is generated on an online computer are generally more secure than private keys (or a seed) generated from a downloaded website. Still, both isn't ideal.

However, a properly generated paper wallet has to be generated completely offline. And preferably without any javascript.
Using the RNG from your OS is one of the best way to generate a paper wallet (regardless whether you want to store a single private key or a mnemonic code). A good and reputable wallet can easily be used to do so (e.g. electrum).

When someone sends you bitcoin, he assignes them to your public key.
This is being recorded on the blockchain.

Whenever you want to spend them, you can use your corresponding private key to sign a transaction.

So.. no, you don't have to actively do anything. Just keep your private key (or master seed / mnemonic code) safe, and you are good to go.