InsightCryp.to_support
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November 06, 2017, 06:14:17 PM |
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That's a very good insight indeed! I also believe that one must thoroughly check the scalability issues of any Alt-Block chain before investing any large amount.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Semius
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November 06, 2017, 09:31:13 PM |
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Good advice so as not to get caught by scammers who will use your pc's resources
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irfanrete
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November 07, 2017, 11:47:37 AM |
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I haven't seen anybody post about what would be my biggest worry if I were trying out alternative block chains. I realize this may be perceived as "Gavin is FUD'ding anything that isn't bitcoin!" (FUD == Fear, Uncertainty and Doubt) But I think some of you might be forgetting some basic computer security fundamentals in the excitement to be early adopters.
When I first heard about bitcoin, my questions were:
1) Can it possibly work (do the ideas for how it works make sense)? 2) Is it a scam? 3) If it is not a scam, could it open my computer up to viruses/trojans if I run it?
I answered those questions by:
1) Reading and understanding Satoshi's whitepaper. Then thinking about it for a day or two and reading it again. 2) Finding out everything I could about the project. I read every forum thread here (there were probably under a hundred threads back then) and read Satoshi's initial postings on the crypto mailing list. 3) Downloaded and skimmed the source code to see if it looked vulnerable to buffer overflow or other remotely exploitable attacks.
If I were going to experiment with an alternative block-chain, I'd go through the same process again. But I'm an old conservative fuddy-duddy.
If you want to take a risk on a brand-new alternative block-chain, I'd strongly suggest that you:
1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable. 2) Don't invest more money or time than you can afford to lose. 3) Use a different passphrase at every exchange site.
in my personal opinion It's hard enough to get the half-baked alt chain software to run at all (and speed is of the essence knowing they are all quickly collapsing pyramids) never mind configuring a VM with appropriate hardware access. > Don't use Windows and pre-built .exes. Just don't. Ever. Nothing inherently wrong with Microsoft software, but it is well understood and commonly used by the botnet types. > Create a new account with no group membership. I call mine "goatse" for obvious but nostalgic reasons. Make absolutely sure that account doesn't have read or write access outside of their home directory. > Log out of your main account and into that account whenever compiling or running the alt chain software. Remember that compilation & installation scripts are code! > Do not browse exchange sites you have coinage in and definitely do not save passwords in the browser when logged in as this account. > If you log into this account via ssh DO NOT enable X proxying. It's trivial to read your keystrokes, do screen captures, etc when X is proxied. Let me repeat this one, make sure X proxying is disabled. And yes, I even follow this for official bitcoin software.
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cryptoexpo
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November 07, 2017, 01:48:55 PM |
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Fiat or bitcoin?
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KingKurm11
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November 07, 2017, 02:17:44 PM |
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Although I don't think the fiasco with Namecoin is over and I do believe we have made it hard for BitcoinExpress. With that said I looked into the block chain rewrite this is real and can be done while lagitamitly mining bitcoins. This exploit is quite scary for Bitcoins as a person with 20% of the hash rate can write the block chain.
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i-synthestech
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November 07, 2017, 02:47:48 PM |
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thanks a lot for your warnings. I want to add that rating services can also help
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banut
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November 08, 2017, 02:56:27 AM |
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Security is the basic concept on the block chain. Unless and until we have a clear satisfaction of the security we should not invest huge amount. What you mentioned all agreed and we have to agreed also the whole life is full of risk only without risk we cant live. So Alternative block chains are safe except some unsecured.
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Kokkie85
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November 08, 2017, 09:21:15 AM |
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Thank you so much for the warning(s). Good to light this up... I’m sure that some people didn’t realise these things before.
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baciubogdan
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November 08, 2017, 10:29:24 AM |
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Nice. Thank you
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monacoinmonao
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November 08, 2017, 11:17:28 AM |
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Burgergad
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November 08, 2017, 01:36:03 PM |
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That's a very good insight indeed! I also believe that one must thoroughly check the scalability issues of any Alt-Block chain before investing any large amount. I think that everything has been checked long ago, since there is a lot of money in this business, and those who tested have a very large experience. So there's no need to worry about this yet.
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DRVX
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November 08, 2017, 05:57:27 PM |
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Huge amount of currencies exist without any particular sense. Their investment potential is very low. But they can still be valuable for collections or for promotion cryptocurrency idea in society, something like advertisement. So this is not a holy trash as somebody have told.
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CryptoHunter911
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November 09, 2017, 07:08:21 AM |
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Thank you for the advice. Altering password is already doing. This made me to think more about new blockchains emerging frequently.
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cryptomkk
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November 10, 2017, 02:54:23 PM |
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Was there one except LTC that wasn't a pure scam?
Anyone who has experience with bitair?
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Burgergad
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November 10, 2017, 06:38:38 PM |
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Huge amount of currencies exist without any particular sense. Their investment potential is very low. But they can still be valuable for collections or for promotion cryptocurrency idea in society, something like advertisement. So this is not a holy trash as somebody have told.
I myself personally continue to be surprised that some currencies are growing and good ones are falling, since the bad ones (as I call them) are greatly overpriced. And crypts with low quality are now used mainly for manipulations no more.
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shiv06
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November 12, 2017, 03:13:18 AM |
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Blokchains Within popular media, the prototypical system used to explain blockchain is the bitcoin network. But this is just one type of solution in this space. It is useful to think of three main types of blockchain, or “distributedledger” Blockchain exists at the cross-over between economics and technology. To apply it effectively, we need to understand both sides of its personality. The economics of a system will affect the technical design and vice versa..
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Burgergad
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November 13, 2017, 02:56:13 PM |
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Good advice so as not to get caught by scammers who will use your pc's resources
Now it's very easy to get to scammers, I constantly hear that all sorts of viruses are simply massively launched in order to steal our crypt from us and every day they are more inventive
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william8829
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November 13, 2017, 10:03:14 PM |
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Some people only have one computer and that must suck. Fortunately I have multiple so I can use some of my alt-miners to do this safely.
Yes also me i have one phone, how can i do this safety? Smartphones do not have good security. If you must use them for for holding Bitcoin I would back up your entire wallet to an external drive. Then i would do a factory reset. Restore you wallet. Do not download any 3rd party software. Do not connect to public wifi.
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truncus
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November 14, 2017, 06:29:42 PM |
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Some people only have one computer and that must suck. Fortunately I have multiple so I can use some of my alt-miners to do this safely.
Yes also me i have one phone, how can i do this safety? Smartphones do not have good security. If you must use them for for holding Bitcoin I would back up your entire wallet to an external drive. Then i would do a factory reset. Restore you wallet. Do not download any 3rd party software. Do not connect to public wifi. The most reliable way is PaperWallet. delete everything in the computer and on the phone. Print as PaperWallet.
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WalrusFeatures
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November 15, 2017, 12:09:19 AM |
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I like to run a multiple raspberry pi's for coins I'm staking.
I have no idea what is in the code I'm compiling when making a wallet so I prefer to keep them separate.
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