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Showing 7 of 7 results by Integic
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Topic
Board Bitcoin Discussion
Topic OP
My criticism of BitCoin
by
Integic
on 25/07/2015, 03:35:46 UTC
I dont like BitCoin for these reasons:

1. The whole idea that someone can turn on his computer/GPU and "bit mine" and earn money is ridiculous.
People should earn money when they work hard for it. Turning on a computer and leaving it to run does not and should not count.
This is a waste of electricity as well and therefore it causes greenhouse gases and has a carbon footprint.

2. One would think they came up with a new currency system so theft could be prevented. No, BC gets stolen all the time.
Why couldn't they "disable" the serial numbers of the currency that was stolen? Thats the kind of system that should have been designed.

3. BC is unstable. People lost a lot of money (one tiny example; there are probably hundreds and thousands) and they did nothing wrong. A good modern currency should not have this defect.

It does have positive points which is why many people are using it but it would have been nice if it didnt have the above problems.

One would think if a new digital currency was created it wouldnt have issues like this. Computers and software are so powerful now. It should have been possible to design a currency with none of the issues above.

"Then dont use it" Or "Why dont you make your own currency system?"
These are not valid responses so they shouldnt be said here.
Post
Topic
Board Beginners & Help
Re: I have 0.02 btc , want to invest
by
Integic
on 19/07/2015, 19:49:59 UTC
Hello from India,
i am new on this forum but i have been earning bitcoin from faucets over last year.
i have 0.022 BTC with me , i hear a lot of people saying to join campaign how can i do that , i have 0.022 BTC want to invest to get profit, please help me.


0.022 BTC is $5 USD, which is 390 Indian rupees.
According to this website, that is one day's wage of an office assistant in India.
Have you done this basic maths?

Your inquiry does not look like a serious inquiry.
If it is, you will have to at least save 1000 or 10,000 times your saved amount to consider investing of any kind.

BTC is not a magic "get rich" quick pill as far as I can understand. Its like any other currency.
Post
Topic
Board Beginners & Help
Re: Anonymity for sending Bitcoin
by
Integic
on 19/07/2015, 15:12:58 UTC
Thank you all! I will most likely be using BC then. Sounds pretty safe and anonymous.
I will look into those other websites for another wallet.

Here is a full list of wallets out there : https://bitcoin.org/en/choose-your-wallet
For Desktop wallets  I'd suggest : Bitcoin Core , Electrum , Multibit HD
for Android : Mycelium
for iOS : I'am not sure because I'am speaking for an experience and I never tested wallets on iOS device .

Stay away from Web wallets because they are the less safe . the safer are Paper wallet (free) and Hardware wallet which will cost your money . Paper wallet are mostly for receiving and not for sending because it will be a simple paper printed where there is Public adress + private key .
I checked both of these: "Bitcoin Core , Electrum"
The first wants to download 20GB of data into my computer. The second also seems to be some kind of software installation.

I just want to send some money to someone. That is all I want to do.
I can install software if thats what I have to do. But I thought I could send people money using a website that asks for my bank account/credit card like Paypal. That is fine with me.

What website should I use? I can use multiple websites if needed.
Post
Topic
Board Beginners & Help
Re: Anonymity for sending Bitcoin
by
Integic
on 19/07/2015, 13:02:43 UTC
Thank you all! I will most likely be using BC then. Sounds pretty safe and anonymous.
I will look into those other websites for another wallet.
Post
Topic
Board Beginners & Help
Re: Anonymity for sending Bitcoin
by
Integic
on 19/07/2015, 12:34:57 UTC
none of that info is visible to the public, when you send a transaction all that is visible on the blockchain is the address you sent coins to, the addresses of the output of the coins sent, and the amount sent. no personal information is ever required to transact coins.
I'm confused. When people talk about the "address", is that the random identifier like
1415RPuMbBkagyAnC9mv3v3aZiHpTiFHar   (random address I just picked from live public transactions)
Or is it the IP address? If its the IP, where is that information available? I cannot see it in a transactions page:
https://blockchain.info/address/1BrpVMvvXRxz51WtaKg4toMTmBPWEHV7BE

no, that address 1415RPuMbBkagyAnC9mv3v3aZiHpTiFHar is the address that is displayed to the network. ie, if a "bob" owned that address, i would send coins to 1415RPuMbBkagyAnC9mv3v3aZiHpTiFHar if i wanted to send money to a hypothetical "bob."

the blockchain doesnt track or record ip addresses, except the ip of the node that relayed the transaction. again, tracking the ip form where a transaction originated would take immense amounts of effort from an attacker.
Ok. So its the receiving Bitcoin address like XfDfg455...
Trying to understand: Why would a person want to hide their Bitcoin address? Since there is no personal information attached with the transaction.

And I can always get a new address, correct? When I make a new wallet. On Blockchain.info there's a button for "New Address". I made another one and it is listed there now.
I could have one address for this transaction and I can create other addresses for a later transaction to a different recipient. So the two transactions cannot be linked, correct?
Just trying to understand why people would want to hide their address.

I just want to confirm that even the recipient can not know my real name, home address, phone number etc, right?
Post
Topic
Board Beginners & Help
Re: Anonymity for sending Bitcoin
by
Integic
on 19/07/2015, 12:27:51 UTC
none of that info is visible to the public, when you send a transaction all that is visible on the blockchain is the address you sent coins to, the addresses of the output of the coins sent, and the amount sent. no personal information is ever required to transact coins.
I'm confused. When people talk about the "address", is that the random identifier like
1415RPuMbBkagyAnC9mv3v3aZiHpTiFHar   (random address I just picked from live public transactions)
Or is it the IP address? If its the IP, where is that information available? I cannot see it in a transactions page:
https://blockchain.info/address/1BrpVMvvXRxz51WtaKg4toMTmBPWEHV7BE
Post
Topic
Board Beginners & Help
Topic OP
Anonymity for sending Bitcoin
by
Integic
on 19/07/2015, 11:56:31 UTC
I have to send money to someone using BitCoin and I want to remain fully anonymous to the recipient and to the public.

I have read a little about this subject and I've read that all transactions are public. So my questions are:

1. What information can be known to (1) the recipient, and to (2) the public?

2. I do not want my real name, address, email or phone number known to anyone (recipient and the public).
I am fine with anyone knowing the amount of the transaction.

So how can I stay as anonymous as possible? I want to jump through as little hoops as possible.