Search content
Sort by

Showing 13 of 13 results by Chesuta123100
Post
Topic
Board Bitcoin Discussion
Re: Why People Call Bitcoin Blockchain?
by
Chesuta123100
on 30/07/2020, 14:39:16 UTC
Uhm well Blockchain is a growing list of records, called blocks, that are linked using cryptography. Blockchain was invented by a person (or group of people) using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin
Post
Topic
Board Bitcoin Discussion
Re: Why do hackers steal huge amounts of bitcoins?
by
Chesuta123100
on 30/07/2020, 05:48:46 UTC
Indeed, hackers will leave footprints if they try to transfer funds from hacked account. More so to speak that they are targeting vulnerable funds; thus, susceptible for an attack.
However, most of these attacks were very successful that they can still managed to get btc and convert it into fiat. However, if there are individuals trying to hack, they would be very big and well funded. In addition, attacks through phising websites and application can be worth noting. Note that most hacks happened in huge markets like bitfinex, binance, huobi and etc. Recent event on twitter would not be considered a direct attack to btc, rather they are accumulating btc from scammed victims. Well, time will tell what made hackers do what they do. Are they trying to test the system of bitcoin or are they trying to proved something they are good about?

We may use Encryption methods in common use look secure, because they have been studied for many years by many people. But they are not provably secure. Someone might discover a way to tunnel into them.
Post
Topic
Board Bitcoin Discussion
Re: PayPal to Offer Crypto Trading
by
Chesuta123100
on 29/07/2020, 15:53:57 UTC
My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo, and that they are going to have some sort of a built-in wallet functionality so you can store it there.
Post
Topic
Board Bitcoin Discussion
Merits 5 from 1 user
Re: What bitcoin adoption really is.
by
Chesuta123100
on 29/07/2020, 05:29:30 UTC
⭐ Merited by Restmand (5)
I believe that the main bitcoin purpose is a store of value. Many people say that bitcoin is not used as a medium of exchange
bitcoin is a store of value because it is a medium of exchange. otherwise you would be storing some virtual numbers in a very expensive database without any value.

Quote
transactions are slow and fees are high for small purchases.
bitcoin transactions are super fast. it takes literary 1 second, or 3 worst case scenario to propagate a transaction throughout the entire bitcoin network that is spread across the globe. and fees aren't that high most of the times  but i agree that they should be lower.

Quote
People don't use bitcoin to buy stuff,

Well some though use them at their local shops. Others get paid in Bitcoin and use it to shop online. So it merely depends on the the persons interest in using them.


that is your assumption.
millions of dollars worth of transaction is being processed by BitPay alone which means people are using bitcoin "to buy stuff" and that is not even considering other payment processors such as Coinbase, etc or even the merchants that accept bitcoin directly both in online and offline shops.
Post
Topic
Board Beginners & Help
Re: Best Bitcoin Wallet?
by
Chesuta123100
on 25/07/2020, 11:19:05 UTC
Well for me, my best bet in storing my bitcoin is Coinbase, since it's one of the easiest ways to buy, sell, and hold cryptocurrencies and it's the safest web wallets you can use. Coinbase keeps almost 99% of their assets in an offline cold storage that can't be accessed. When in cold storage, they cannot be hacked!
Post
Topic
Board Bitcoin Discussion
Re: Do we need bitcoin?
by
Chesuta123100
on 25/07/2020, 09:02:22 UTC
It depends on a persons interest but for me i really need it cause its easy to invest and easy to use ,Bitcoin offers a peer-peer network, Which allows its users to send bitcoin from any device to anyone, anywhere in the world without any restriction, at any time. It is advisable to invest in bitcoin at this stage because you will be earning lot more than you imagine, There are various platforms in which you can invest your bitcoin , cryptoavenue (www.cryptoavenue,org ) is a reliable platform that you should try to invest your bitcoin and thank me later.
Post
Topic
Board Bitcoin Discussion
Re: The Best Bitcoin wallets
by
Chesuta123100
on 22/07/2020, 11:03:26 UTC
https://blog.bitrefill.com/the-best-bitcoin-wallets-d9595e81477a


https://miro.medium.com/max/1400/0*BYj1YEWwtfcwm2ah.jpeg

Newcomers to Bitcoin are often lost when picking a wallet to use

Bitcoin wallets are a very complex topic for new users. There are tons of different kinds of wallets, and all have a different set of security and privacy tradeoffs. Basically, the easiest way to understand it all, is to keep in mind the hodler’s mantra of “not your keys, not your Bitcoin”.

We’ll be taking a look at a range of wallets that let you control your own private keys, and let you send and receive Bitcoin so you can start right away. The three most common formats for Bitcoin wallets are mobile wallets, desktop wallets, and offline hardware wallets.
The best Bitcoin wallets for mobile users
Blockstream Green

Blockstream Green was formerly known as Green Address, and is an excellent choice for your mobile wallet. Green is user-friendly but has a bunch of advanced features for long-time Bitcoiners also.

    iOS & Android
    Encrypted private keys on your device.
    2fa to prevent your wallet from being compromised.
    Timelock & multisignature smart contracts to securely store Bitcoin.
    Integration with Ledger & Trezor hardware wallets.
    Private, you only need an email address.
    Lower fees with Segwit, and customizable fees.

Samourai

Samourai is somewhat user-friendly, but it also provides many advanced privacy features, which allow you to use Whirlpool coinjoin, paynyms, batch-spends, ricochet, stonewall, and other transaction obfuscation solutions. In addition to the wallet’s built-in privacy features, you can run a self-hosted Dojo. Dojo is a personal Bitcoin node and Whirlpool coinjoin server which you can link to your mobile wallet for an even higher level of privacy and operational security.

    Android only
    Encrypted private keys on your device.
    Full-offline mode for secure cold storage, watch-only, multisignature transactions, or offline signing of Partially Signed Bitcoin Transactions (PSBTs).
    Segwit and Smart fee estimator for fast and low-cost transactions.
    Paynyms are a reusable nym which can be used to accept BTC without exposing a pubkey.
    Ricochet adds several extra hops to your transaction to confuse blockchain analysis.
    Stonewall transactions create statistical doubts on links between sender and recipient.
    Batch-spends let create one transaction which contains many different unrelated transactions. Great for privacy and for saving when fees are high.
    Whirlpool is a Chaumian Coinjoin implementation which gives users additional privacy.
    Can be combined with a self-hosted Dojo coinjoin server for added privacy and operational security.

Electrum Mobile

Electrum’s mobile wallet is yet another great, user-friendly choice, but like Green and Samourai, it has plenty of features for advanced users. It supports cold-storage, multisig, hardware wallet & BTCPay server integration, has a privacy add-on called Electrum Personal Server, which allows you to integrate your mobile wallet with your own self-hosted node and backend server, for extra security.

    iOS & Android
    Encrypted private keys on your device.
    Supports 2fa
    Full-offline mode for secure cold storage, watch-only, multisignature transactions, or offline signing of Partially Signed Bitcoin Transactions (PSBTs).
    Can be used with several popular hardware wallets, or Tails Linux privacy distro.
    Can be combined with self-hosted Electrum Personal Server for added privacy and operational security.
    Integrates with BTCPay server.

Muun

Muun is a cutting edge non-custodial Bitcoin wallet with a user friendly interface. It offers 2 of 3 Multisig with Muun as a co-signer, allows for secure storage of your private keys in your device’s secure enclave, has easy sign in, and also a secure cold storage option for long-term hodlers. With Muun you don’t use a Lightning channel, to pay LN invoices it uses a Submarine Swap service. Unfortunately today you cannot receive LN payments but the feature is planned to be added soon™.

    iOS & Android
    Encrypted private keys on your device.
    Easy sign in
    Supports secure cold storage and 2 of 3 multisig.
    Submarine swaps instead of LN bidirectional payment channels.
    Send money to friends using your phone number and contact list.
    User-friendly interface for simplified payments.

Bluewallet

Bluewallet was created to bring zero-configuration Lightning Network transactions to Android and iOS devices. They intended to make Bitcoin easy for those new to Bitcoin or those who prefer the convenience of a well connected 3rd party node to use your petty cash. It features a Marketplace of “Lapps” like Bitrefill, Yalls, Zigzag, Ln Roulette, Pollo feed Smiley and many others.

    iOS & Android
    Custodial, but you can connect to your own node.
    Lightning Network & Onchain Bitcoin compatible.
    Bitrefill integrated, shop without leaving the app.
    User-friendly interface for simplified payments.
    Leverages open source LND Hub, for invoicing and channel management.

HODL Wallet

Hodl wallet is a super intuitive and easy to use Bitcoin wallet that lets users control their own private keys. Hodl wallet’s code is fully transparent and open source, so you can review it yourself. Hodl wallet is available for iOS and Android mobile devices. Hodl features and easy fee slider which let’s you control how quickly your transaction is included in the next block, depending on network conditions.

    iOS & Android
    User-friendly interface for simplified payments.
    Encrypted private keys on your device.
    Easy fee slider for control over transactions.
    Decentralized, transparent open source code which is easily auditable.

The best Bitcoin Wallets for desktop users
Electrum Desktop

Electrum’s desktop wallet is a solid choice for a desktop wallet, even more so if you already use their mobile wallet. It supports cold-storage, multisig, hardware wallet & BTCPay server integration, has a privacy add-on called Electrum Personal Server, which allows you to integrate your mobile wallet with your own self-hosted node and backend server, for extra security.

    Windows, MacOS, Linux, Unix
    Encrypted private keys on your device.
    Full-offline mode for secure cold storage, watch-only, multisignature transactions, or offline signing of Partially Signed Bitcoin Transactions (PSBTs).
    Can be used with several popular hardware wallets, or Tails Linux privacy distro.
    Can be combined with self-hosted Electrum Personal Server for added privacy and operational security.
    Integrates with BTCPay server.
    Regtest and Testnet modes for developers.

Bitcoin Core

Bitcoin core is the wallet that ships with the most popular implementation of the Bitcoin software. It is one of the most private and secure options because it is a full client that requires you to download and sync the entire blockchain, although you can prune it to save disk space. You can also integrate Tor for additional privacy. The Bitcoin core wallet can be used from the command line or GUI front end, giving both noobs and power users all the advanced features, security, and control they need. It does have a bit of a learning curve, so DYOR.

    Windows, MacOS, Linux, Unix
    Encrypted private keys on your device.
    Native Segwit Bech32 addresses which save on transaction fees.
    Legacy and Segwit address support.
    Fully customizable fees, can speed-up slow transactions with Replace By Fee (RBF) or Child Pays For Parent (CPFP) transactions.
    Tor integration for additional privacy.
    Full-node, for full verification of every transaction.
    Bitcoind command line interface (Bitcoin-CLI) for developers and power users.
    Regtest and Testnet modes for developers.

Wasabi

Wasabi is another wallet which was created with user privacy in mind. It has a built-in Chamian Coinjoin and Unspent Transaction Output (UTXO) management tool, for maximum coin control. Wasabi is like Bitcoin Core, in that it runs on its own full node, or you can integrate with your existing node. Wasabi automatically uses Tor by default.

    Windows, MacOS, Linux, Unix
    Encrypted private keys on your device.
    Native Segwit Bech32 addresses which save on transaction fees.
    Legacy and Segwit address support.
    Chaumian Coinjoin for user privacy.
    UTXO management for intricate coin control.
    Full-node, for full verification of every transaction.
    Tor by default for additional user privacy.
    Fee estimator for fast and cheap transactions.
    Regtest and Testnet modes for developers.

Armory

Armory is not a wallet for beginner Bitcoiners, it is a wallet with a steep technical learning curve, although it may be the most secure wallet out there. Like Bitcoin Core, Armory requires you to download the blockchain locally. Armory has a ton of cutting edge security features to protect your Bitcoin. Armory supports cold storage and is ready to use with Glacier protocol, the most secure way to store your Bitcoin.

    Windows, MacOS, Linux, Unix, Raspberry Pi
    Encrypted private keys on your device.
    Full-offline mode for secure cold storage, watch-only, multisignature transactions, or offline signing of Partially Signed Bitcoin Transactions (PSBTs).
    Allows you generate your private keys on an offline machine for maximum security.
    Lets users create secure lockboxes for splitting up Bitcoin among several secure wallets.
    Armory pioneered cold-storage, and offline, and watch-only wallets.

The best offline hardware wallets for secure storage
Bitbox

Bitbox is a Bitcoin hardware wallet that was also one the first hardware wallets available. Manufactured by Shift Cryptosecurity, the Bitbox comes in two models the 01 and 02. It is also available in multi-asset or Bitcoin-only variants. Bitbox utilizes a secure element like Ledger and allows for easy backups and restoration with a micro SD.

    On-device password entry.
    Integrates a Secure Element, a chip designed for data security.
    Externally audited firmware.
    Encrypted seed stored on the MCU, protected by both the secure chip and user-chosen device password.
    Monotonic counter in secure chip to avoid brute force attacks by limiting total attempts.
    Support for top-tier altcoins.
    Password stretching in secure chip to avoid brute force attacks by making attacks take a very long time.
    Bootloader accepts only firmware signed by Shift Cryptosecurity.

Cold Card

Cold Card is the most secure hardware wallet, although it isn’t the most beginner-friendly option. Cold Card has many advanced security features but has a slight technical learning curve. It utilizes a secure element, and it is the only wallet that can operate completely air-gapped. Cold Card is the hardcore Bitcoiner’s choice for hardware wallets.

    Integrates a Secure Element, a chip designed for data security.
    Only hardware wallet that can be fully air-gapped from seed generation, to transaction signing.
    MicroSD card slot for backup and data storage.
    Built for BIP174 Partially Signed Bitcoin Transactions (PSBT).
    Integrations with Bitcoin Core, Samourai, Wasabi, Electrum, BTCPay Server.
    Decoy wallet for $5 dollar wrench attacks.
    Brick me pin will destroy the secure element and render your Coldcard worthless, in a physical attack.
    Passphrase for additional security.

⚡ Did we miss any of your favorite Bitcoin Wallets? Let us know on Twitter or on our Telegram group
Bitrefill Blog
Bitrefill lets you buy gift cards and top up prepaid mobile…


The best means literally the safest wallet used to handle and secure our bitcoin. There I used Coinbase since this hot wallet is regarded by many to be the safest Bitcoin wallet available. even though Coinbase is a digital wallet, it's quite unconventional.  It's multifunctional, integrated into its market (which means that the transfer, buying and selling rates are super fast and FREE), is beginner-friendly and well-optimized.
Post
Topic
Board Bitcoin Discussion
Re: Bitcoins joins the bank
by
Chesuta123100
on 22/07/2020, 10:36:47 UTC
I guess they can't really beat Bitcoin.
Just saw on Reddit where
An old article states dated September 13,2017

"bitcoin is a fraud that will blow up, says JP Morgan Boss"

And now May 12,2020
"JP Morgan Extends Banking services to bitcoin exchanges"

I guess if you can't beat 'em join 'em.

So  i guess as my opinion on bitcoin future will be stable and no coin will take over it.

So whats your insight about this news? What will happen in bitcoin ?


well I agree on your opinion , It'll be stable since cryptocurrencies and banks can go together. They are compatible because they have something in common, they both have ways to handle money.
Post
Topic
Board Bitcoin Discussion
Re: Bitcoins joins the bank
by
Chesuta123100
on 22/07/2020, 08:01:51 UTC
Banking will be changed due to crypto. In some countries they are already working with it. Soon we will see greater adoption in the EU
Yeah heard Switzerland gets another ‘Bitcoin bank’ that holds cryptocurrency for customers. " SEBA " says it’s trying to bridge the gap between traditional and digital assets, whilst maintaining high levels of security. At the moment, the bank supports five cryptocurrencies: Bitcoin, $BTC▲4.15% Ethereum, Stellar, Litecoin, and Ethereum Classic.
Post
Topic
Board Bitcoin Discussion
Re: They say hardware wallets are the safest
by
Chesuta123100
on 19/07/2020, 06:17:32 UTC
Why do they say that? Correct me if I'm wrong. Isn't, hardware wallet, a hardware like usb, that generates private keys without being online on the internet?

Why do I not like them? Because, in addition with a txt file that you can encrypt with many ways and save it in many places, if your hardware stops working, you're a dead man. And you're going to fix it somewhere? Not that recommended. If you're a paranoid of course.

Prove me wrong, by not telling me the cons of software wallet. Prove me wrong, by telling me the pros of hardware wallet.


well if your hardware wallet is lost, stolen or damaged, you can easily and securely recover all of your cryptoassets, as long as you have access to the 12, 18 or 24 word recovery seed. ... In this case, you can just recover your cryptoassets by importing the recovery seed into the replacement hardware wallet. Smiley Smiley
Post
Topic
Board Economics
Re: Biggest winner during COVID?
by
Chesuta123100
on 18/07/2020, 14:52:49 UTC
Though suburbs and exurbs will soon benefit  Shocked Shocked —so will states that offer nice climates, low taxes and open space. People will question the need to live in crowded cities where people are on top of each and more susceptible to catching viruses. New York City is an example of this. The city has been the hardest hit and it's the most densely populated place in the country. It's also an extremely expensive place to live.
Post
Topic
Board Economics
Re: Biggest winner during COVID?
by
Chesuta123100
on 18/07/2020, 14:46:47 UTC
Many states were in bad financial straits before the pandemic. With companies forced to close down and millions of Americans unemployed, tax revenue for states precipitously plummeted. New York, New Jersey, California, Illinois and other states have been hit hard. They’ve been squeezed, having to spend money on fighting the outbreak while receiving less money in taxes that’s needed to keep things running.  Undecided Shocked Shocked

The only solution for states is to both raise taxes and make some drastic cost cuts. Just like what happened to New York City in the 1970s, police officers, firemen and teachers will be let go to reduce expenditures. This resulted in the degradation of the city. There was a spike in crime, the schools became overcrowded and garbage piled up on the streets.  Undecided Undecided
Post
Topic
Board Economics
Re: The pandemic outcome
by
Chesuta123100
on 18/07/2020, 14:36:05 UTC
Blockchain intelligence firm Chainalysis has found that the COVID-19 pandemic and global economic contraction is affecting Bitcoin consumer habits in surprising ways  Shocked .
Leading blockchain intelligence firm Chainalysis has found that the COVID-19 pandemic and global economic contraction is affecting Bitcoin (BTC) consumer habits in surprising ways. In a new report published on March 30, Chainalysis details how Bitcoin spending trends in three areas — merchant services, gambling and darknet marketplaces — have changed, or even reversed.