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Showing 16 of 16 results by Ana_crypto
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Topic
Board Altcoin Discussion
Topic OP
How Litecon Halving will impact the price of Litecoin?
by
Ana_crypto
on 01/08/2019, 04:32:48 UTC
Hey guys, countdown as started for Litecoin halving which is scheduled on August 6th, 2019. What do you think? Will this halving will impact on Litecoin price? Will the price of Litecoin decreases or increases? Please share your opinion on this.
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Topic
Board Beginners & Help
Re: How to secure your Recovery seed or Mnemonic phrase?
by
Ana_crypto
on 29/07/2019, 04:31:15 UTC
Quote
Which is why some schemes allow you to add password to your seed, so the seed alone is not enough to access the wallet, because private keys are derived from both the seed and the password. I personally don't use this method, because I use Electrum and it doesn't have this option, but even if I could, I still wouldn't because it just adds just the complexity of storing password somewhere. I'd rather not risk locking myself out of my coins because of a misplaced password.

I think Electrum wallet also has the feature of Passphrase. Instead of storing your password anywhere, you can choose a strong password which you can remember. Even if the seed is stolen, without the passphrase they cannot access the wallet.

You can choose to keep part of your funds under passphrase(large amount) and fewer amount without a passphrase(small amount). If the wallet is stolen, then only the small amount without a passphrase will be lost. You can still save the large amount of funds.
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Topic
Board Beginners & Help
Re: How to secure your Recovery seed or Mnemonic phrase?
by
Ana_crypto
on 27/07/2019, 04:35:04 UTC
It's really similar to using a web based banking system, where you have user ID, password, and nowdays 2FA too

I think the banking system is different from a wallet seed where you have the control of your seed. The bank will have your account information and you hold the PIN for it. If the PIN is lost or hacked then you will loose your funds.

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I know that this is a bit different because in a bank you can go into the first branch and can ask for a new password or new login ID or whatever (after you have identified yourself of course), and this is not possible with bitcoin seeds, but somehow similar...

As you said, if the account is hacked, the bank can block your account and can create a new account and password. And your funds are still safe, if it is blocked before stealing your funds. Whereas in case of wallet seed, if you loose the seed then you lost it completely. No way you can recover your funds.
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Topic
Board Beginners & Help
Merits 3 from 3 users
Topic OP
How to secure your Recovery seed or Mnemonic phrase?
by
Ana_crypto
on 25/07/2019, 11:44:29 UTC
⭐ Merited by o_e_l_e_o (1) ,thd26bct (1) ,mr_random (1)
First I will explain what a Seed or a Mnemonic phrase is?

Quote
Mnemonic phrase - It is a 12 or 24 letters word which will be generated when you create a wallet. You can store that in a paper, so that it can be used later to recover your funds if the device breaks down or not useful.

The "Passphrase" is an additional password used to secure your mnemonic seed. If your recovery seed is lost or hacked, then you will loose all your funds. In order to protect a seed of your wallet, passphrase is implemented. Even if your seed is stolen, it cannot be lost as it will have an additional feature Passphrase that protects your funds.

There are many wallets that support passphrase feature like Ledger Nano S, Trezor wallet, Exodus, Coinomi etc.

If a passphrase protection is disabled on your wallet, you can enable passphrase protection on your device. Unlock your device and check "Advanced" tab and you can enable passphrase there. A new wallet will be created inside your wallet, it will be like a hidden wallet inside your wallet.

Hope this will help the newbies or those who have not enabled this feature on their device.

Also, I would like to know which wallet are you using? Do you have this feature on your device? Or
How do you protect your Seed?
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Topic
Board Beginners & Help
Re: What are Sidechains? How Rootstock (RSK) is connected to the Bitcoin blockchain?
by
Ana_crypto
on 24/07/2019, 04:27:42 UTC
RSK does appear to be a good system and I will say I’ve been looking at it quite a lot recently. Whether it will get mainstream adoption only time will tell. On a negative side , I’m not sure how people would feel about that it’s not decentralised and that you would have to lock in/ trade btc to use it. LN can be used for payments, but LN can’t be used for other contracts.
What do other people think, any more information would be helpful.
Sorry OP haven’t helped you much.

No problem! Thanks for sharing your thoughts on this. I would like more people to talk on this and share their opinion. Even I will try to explore more about Rootstock.
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Topic
Board Beginners & Help
Re: Did somebody there hear about IQN? Do you advice to invest?
by
Ana_crypto
on 22/07/2019, 11:45:55 UTC
I have not heard about IQN. I read that IQeon (IQN) is a gaming platform that contains games, applications and services which help players in gaming achievements. Before investing on any coin, I advise you to do some research on that and then invest. You can get more info about this coin on Coinmarketcap - https://coinmarketcap.com/currencies/iqeon/
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Topic
Board Beginners & Help
Re: What are Sidechains? How Rootstock (RSK) is connected to the Bitcoin blockchain?
by
Ana_crypto
on 22/07/2019, 11:27:14 UTC
Hey guys any Idea on Rootstock blockchain, why it is not supported even though it has many features which can make Bitcoin blockchain better than before? By this method, the transactions can be faster, storage and bandwidth usage can be reduced as it do not contain transaction data but only the references to previous transactions.
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Topic
Board Beginners & Help
Merits 7 from 3 users
Topic OP
What are Sidechains? How Rootstock (RSK) is connected to the Bitcoin blockchain?
by
Ana_crypto
on 21/07/2019, 14:33:24 UTC
⭐ Merited by Welsh (3) ,bones261 (2) ,OgNasty (2)
Quote
Sidechains are the blockchain which runs in parallel with the main blockchain. Users can move tokens and other digital assets from the parent blockchain to the side chain or vice-versa. The Sidechain is attached to the main chain using a two-way peg - which interchange the assets between parent and side chain.
Sidechains are used to connect the Rootstock chain to the Bitcoin blockchain. The users can lock their BTC and get an equal amount of Smart Bitcoin(SBTC) in the sidechain.

Some of the PROS of Rootstock are:

  • We all know that Bitcoin is missing out incorporating smart contracts. Rootstock is the blockchain which works on Smart contract platform. It is as secure as Bitcoin and prevents the double-spending issue.

  • RSK blockchain has the potential to scale up Bitcoin transactions to  300 TPS(Transactions per second)

  • RSK uses a new protocol like DECOR and GHOST to bring instant payments to the network. They will also be creating blocks at 10-second intervals.

>> After reading all these, I felt Rootstock is a good project which has to be recognised and supported. It has the potential to reduce Scalability issues and transaction times of Bitcoin. What are your thoughts on this?


Source: https://blockgeeks.com/guides/ultimate-guide-rootstock-blockchain/
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Topic
Board Altcoin Discussion
Topic OP
How tokenization is different from Securitization?
by
Ana_crypto
on 01/07/2019, 11:37:07 UTC
Tokenization is the process of turning things into digital assets. Is this same as Securitization? How these 2 are different from each other?

Also, I came across STOs. How this is related to Tokenization?

Anyone please explain me, I am new to all these things.
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Topic
Board Altcoin Discussion
Re: Libra vs. Bitcoin - What's the Dif?
by
Ana_crypto
on 26/06/2019, 08:36:38 UTC
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The cheapest, fastest, and most secure way to send money yet invented.
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There are already altcoins that's way more cheaper, faster and more secure than Bitcoin, it's just that Bitcoin is the father and pioneer of cryptocurrency.

My thoughts exactly. Like, Bitcoin started it all, but there are altcoins that have learnt from the bitcoin technology and have made more developed ones of their own, making them faster and cheaper and lot more things too.
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Topic
Board Speculation (Altcoins)
Re: [ BAT ] ANN Basic Attention Token Speculation
by
Ana_crypto
on 27/05/2019, 09:32:50 UTC
Basic Attention Token is an open source, advertising platform built on blockchain technology that was built on the Ethereum platform using a smart contract. This platform has its token called Basic Attention Token coin, to rightly value and pay for gauging the user attention and user engagement generated.

This is one of the potential coins that is currently trading at $0.36. It is a good range to buy BAT now. BAT is listed on many leading exchanges like Binance, Changelly, Hitbtc and Coinswitch. One can see the price of this coin on all these exchanges at one place at an exchange aggregator Coinswitch. We can compare the prices across exchanges and trade at best rate. Check here to buy BAT at the best rate -
https://coinswitch.co/coins/basic-attention-token
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Topic
Board Announcements (Altcoins)
Re: ☑ [ANN] ☰ [ ICO 06|04|2017 ] ☰ Humaniq — Discover the unbanked
by
Ana_crypto
on 24/05/2019, 08:14:32 UTC
One can try at Coinswitch it is a noncustodial exchange and you can buy 100+ crypto currency using credit card and 4000+ coins to trade. That to without creating an account [NO KYC].https://coinswitch.co/coins/humaniq.
Humaniq Price for today is $0.0099359039. Its current circulating supply is HMQ 206,618,753 with a market cap of $1,840,991.
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Topic
Board Altcoin Discussion
Re: NXT BTC/LTC exchange
by
Ana_crypto
on 21/05/2019, 11:30:27 UTC
Can any one suggest me the nxt btc exchange which is more profitable for beginners? thanks in advance
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Topic
Board Beginners & Help
Re: How to make bitcoin wallet and print out the private key?
by
Ana_crypto
on 15/05/2019, 11:31:44 UTC
I know some of the paper wallets are Bitcoin paperwallet.com, Bitcoin.com Paper wallet and Wallet Generator.net.

Bitcoin paperwallet.com: This will help you print both front and back side.

Bitcoin.com recommends the users to download the source code and generate the seed from an offline laptop.

Wallet Generator.net: This you have to download it from GitHub and open the index.html file from your computer to protect your funds from being stolen.
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Topic
Board Beginners & Help
Topic OP
The transaction got into the orphan block. What does it mean?
by
Ana_crypto
on 14/05/2019, 09:02:11 UTC
Few days ago I have created one transaction from btc to xmr  after waiting for long the exchange told the transaction got into the orphan block. We didn't receive the funds.
the funds will be returned to you by the network.what does it mean? can someone please explain me I am new to crypto please help? thank you in advance
Post
Topic
Board Trading Discussion
Re: Too many exchanges?
by
Ana_crypto
on 06/05/2019, 11:27:35 UTC
Having accounts in too many exchanges is not a good practice because of security issues. Creating an account in multiple exchanges is tedious and remembering all the passwords is also difficult.

Storing the cryptos in the exchanges is also not safe due to hack issues. It is better to choose the best exchange for trading instead of trading on different exchanges.

I trade on an exchange that is an aggregator exchange(Coinswitch) of many exchanges. Here we need not have to create an account and we can trade at the best rate by comparing the prices at different exchanges and trade at one place.