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Author Topic: Bitcoin Testnet. Activate, experience it, but don't trade and get scammed.  (Read 199 times)
tranthidung
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January 08, 2020, 03:08:39 AM
Last edit: January 12, 2020, 06:05:23 AM by tranthidung
 #1

If you are newbies in crypto currency, bitcoin might be the first crypto currency you know about (from your friends, from your relatives, from any Ponzi clubs, whatsoever, but it is your personal issues, I don't care).
The thread is made to help you know basics on Bitcoin Core Testnet and avoid scammers.


Important notes
  • Bitcoin on Testnet have zero-value.
  • You can not move your coins on testnet to mainnet, and vice versa.




Table of contents

For bitcoin blockchain, there are two type of its blockchains:
  • Main net
  • Test net

Differentiate Main net and Test net wallets based on UIs

Wallet typesNotesUI images
______________________________________________________________________________________________________________________
Bitcoin Core Mainnet
Bitcoin Core., in Orange color.

fffffffffffffffffffffffffffffff
Bitcoin Core Test net
Bitcoin Core [test], in Green color.

fffffffffffffffffffffffffffffff
Electrum Main net
Electrum 3.3.8

fffffffffffffffffffffffffffffff
Electrum Test net (Legacy)
Electrum Testnet 3.3.8

fffffffffffffffffffffffffffffff
Electrum Test net (Segwit)
Electrum Testnet 3.3.8

fffffffffffffffffffffffffffffff


Main net:
See it here: https://bitcoin.org/en/glossary/mainnet
The thread is for Testnet, specifically, so I skip the part for Mainnet as short as possible.


Test net:
A global testing environment in which developers can obtain and spend satoshis that have no real-world value on a network that is very similar to the Bitcoin mainnet.

The testnet is an alternative Bitcoin block chain, to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain.

Test net generations
There are 3 generations of bitcoin testnet:
There have been three generations of testnet. Testnet2 was just the first testnet reset with a different genesis block, because people were starting to trade testnet coins for real money. Testnet3 is the current test network. It was introduced with the 0.7 release, introduced a third genesis block, a new rule to avoid the "difficulty was too high, is now too low, and transactions take too long to verify" problem, and contains blocks with edge-case transactions designed to test implementation compatibility. On the December 21 of 2015 SegNet was deployed, to test the Wuille's Segregated Witness proposal.

Transactions on testnet are made through the same process as with main net, that is one of advantages for Newbies to start off and get experiences with bitcoin transactions, how to create receiving addresses, label them, making transactions (receiving and sending) without risk of financial loses. If they make mistakes with transactions on testnet (mis-typing addresses, ie.), they will not lose anything at any amount of coins they send on test net.

Activate Bitcoin Testnet?
Does Bitcoin Core automatically activate testnet for your wallet when you set it up and run it the first time?
NO
By default (without arguments), the main net will be run for you.
When run with no arguments, all Bitcoin Core programs default to Bitcoin’s main network (mainnet).
You have to activate testnet mode by yourself.

Steps to activate Bitcoin Testnet mode
1. Bitcoin Core:
To use testnet, use the argument -testnet with bitcoin-cli, bitcoind or bitcoin-qt or add testnet=1 to your bitcoin.conf file as described earlier.
You can go to the directory in which you install your Bitcoin core, such as "C:\Program Files\Bitcoin" (in Windows), then:
  • Choose the bitcoin-qt and Right click > Create Shortcut
  • Rename the Shortcut (with Testnet suffix - I recommend you to do this).
  • Right click on the Shortcut> Properties > adding -testnet like the image.
Finished! When you run your bitcoin core on testnet, the GUI will be displayed with Green color (not Orange, as for Main net), and at the top right corner, you see [test].


2. Electrum:
See more details here: https://bitzuma.com/posts/a-beginners-guide-to-the-electrum-bitcoin-wallet/#testnet-mode
Please remember to choose steps guided for your operating system (Windows, Mac or Ubuntu).

Warning message!
When you finish those steps and run your Testnet wallet the first time, you will see the warning

How to know that you currently use Testnet?
It's simple. There are two signals for you:
  • Wallet UI color and flag (for tesnet) for Bitcoin Core or tab header for Electrum wallet (see images)
  • Address-prefix: m or n for Legacy testnet. tb1 for Segwit (bench32) testnet (see images).

For more things relate to Bitcoin Testnet's Script Hash, Private key (WIF compressed or WIF-uncompressed), please see: https://en.bitcoin.it/wiki/List_of_address_prefixes

Test net with Legacy wallet:
Do you see this line on the wallet header ?
Electrum 3.3.8 Testnet

Addresses show with m or n.

Test net with Segwit (Bench32) wallet:
Do you see this line on the wallet header ?
Electrum 3.3.8 Testnet
You will see the notification and pub address shows with tb1.

Testnet Servers
You have to customize your testnet servers in order to get connections to the other Testnet nodes, especially if you running Testnet on Electrum wallet.
See: https://bitzuma.com/posts/a-beginners-guide-to-the-electrum-bitcoin-wallet/#testnet-servers




How to detect Scammers?
Ok. For newbies, those steps are find for them to start off.

Now, let's move to the most important section in the thread. How scammers can make scam with Testnet?
They will likely do something:
  • Giving you a deal with very cheap price for bitcoin. Much cheaper than actual price on the market.
  • Asking you to do some 'complicated' steps to activate your testnet mode.
  • Asking your receiving address on Testnet (starts with m or n)
  • You mostly have to go first with you fiat (always avoiding this step).
  • Whether you receive bitcoin on testnet after sending fiats to them or not, it does not matter because coins on testnet have zero-value

So, if someone (strangers) make bitcoin transaction deals with you with those requirements, avoiding such deals because you will lose your fiats by buying Testnet-coins (that have zero-value).

You can also play with them by asking them which address they will use to send their coins to your wallet. If their address is on Testnet (m, or n prefix), okay you have another clue to conclude they are scammers.




Coins are unable to be use for cross-exchanges between Mainnet and Testnet
So, you have to make sure that you use your wallet on Main net for Mainnet-transactions, and use your wallet on Testnet for Testnet-transactions.

Testnet Faucet:
You can get your testnet coins (for free, sure)

Explorers to check transactions on Test net

Lesson from loser(s)




https://bitcoin.org/en/glossary/testnet
https://en.bitcoin.it/wiki/Testnet
https://bitcoin.org/en/developer-examples#testnet
https://bitzuma.com/posts/a-beginners-guide-to-the-electrum-bitcoin-wallet/#testnet-mode
https://en.bitcoin.it/wiki/List_of_address_prefixes
[overview] Recover Bitcoin from any old storage format (you should read it to understand more about bitcoin private key formats).
Reminder: TestNet coins have no value whatsoever, don't get scammed.




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tranthidung
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January 14, 2020, 01:04:49 AM
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Bump !




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............SUPPORT.
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