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Showing 6 of 6 results by Zusus
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Board Bitcoin Technical Support
Topic OP
Public and Private Key
by
Zusus
on 05/09/2023, 14:57:28 UTC
To send Bitcoin, you must have access to the public and private keys associated with the amount of bitcoin you want to send. When we talk of someone "owning" bitcoins, what it actually means is that person has access to a 'key pair' comprised of:

-a public key (an address) to which some amount bitcoin was previously sent
-the corresponding unique private key (a password) which authorizes the bitcoin previously sent to the above public key (address) to be sent elsewhere.

Public keys, also called bitcoin addresses, are randomly generated sequences of letters and numbers that function similarly to an email address or a social-media site username. As the name implies, they are public, so you are safe sharing them with others. In fact, you must give your Bitcoin address to others when you want them to send you bitcoin. The private key is another sequence of letters and numbers, also generated randomly. However, private keys, like passwords to email or other accounts, are to be kept secret. Never share your private key with anyone that you do not 100% trust to not steal from you.
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Topic
Board Economics
Topic OP
How does Bitcoin Benefit the Economy
by
Zusus
on 05/09/2023, 14:35:29 UTC
Cryptocurrency exchanges and trading are practices where two people can oversee your transaction outside government oversight. In countries where the national currency tends to fluctuate constantly, causing the quality of life to plummet, cryptocurrency can help to avoid these economic disasters
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Topic
Board Bitcoin Technical Support
Topic OP
Why do some bitcoin transaction confirmations take so long?
by
Zusus
on 05/09/2023, 13:45:46 UTC
Each block can only contain a certain number of transactions, and that number is determined largely by the space available in each block, or the 'block size,' which is 1MB. The limited space gives rise to the fee market, where miners, who collect fees, choose to include in the next block only those transactions which have included a high enough fee. Thus higher fees act as incentive for miners to prioritize your transactions.

Note that the block size is an arbitrary limit, but the Bitcoin community has chosen to keep the block size as small as possible in order to make it easier for people to operate Bitcoin nodes. Bitcoin Cash, which is a fork of Bitcoin, has a larger block size and therefore requires (much) lower fees for transactions.
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Topic
Board Beginners & Help
Topic OP
Using Bitcoin While Maintaining Protection of privacy
by
Zusus
on 17/05/2023, 11:52:14 UTC
Is my privacy truly safeguarded? Despite Bitcoin offering anonymity, privacy concerns persist. There are numerous techniques available today that can unveil connections between Bitcoin addresses, transaction patterns, and the true identity of the address owner. It's important to note that while tracking transactions on the public ledger of blockchain technology doesn't reveal the intricacies of Bitcoin transactions and public keys, it may facilitate the linking of multiple addresses together for further analysis. Virtual Assets Service Providers retain transaction data for Bitcoin addresses associated with exchanges, custody wallets, and custodians that cater to individual and business clients in the cryptocurrency space. The information collected during registration, known as Know Your Customer (KYC), enables the tracking of a user's real-world identity. These data can be connected thanks to the use of blockchain technology. Additionally, you can trace your Bitcoin transactions using tools such as Bitcoin Explorers and other similar resources.  I will be glad to get more contributions on how I can maintain more privacy.
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Topic
Board Beginners & Help
Topic OP
Don't get scammed
by
Zusus
on 06/04/2023, 08:18:07 UTC
Testimonies indicate that numerous people have had their accounts compromised and exploited for fraud, and that bitcoin frauds are growing and gaining a lot of attention.

seeing  some one posting how they made about 20k dollar by investing  in bitcoin over night they all try to convince  you to invest and to meet there mentor by clicking  on the bio on any social  media, once you click on the mentors page it looks so convincing  and legit with lots of post making  it look like a normal  person, the most important  thing  do not contact  any of this mentors once you do and you invest  then your money  is way gone. Since most people already  have a mind set of getting  rich with crypto currency, since the media  is making it look as if you can  get rich quick with bitcoin, scammers are taking  advantage  of the whole thing to steal money  from people. They even go to the extent of hacking  people's accounts  to scam and when it comes to the investment the will tell you not to send money to them directly  majority might ask for security details  to sweep away your funds. If anyone  start requesting  for logins of email  and any finance  app should be seen as a red flag. Most importantly do your own search before investing.
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Topic
Board Nederlands (Dutch)
Re: Bitcoin kopen met ideal
by
Zusus
on 04/04/2023, 08:41:06 UTC
Gemakkelijke manier om bitcoin te kopen is via uitwisselingen en van daaruit kunt u overboeken naar uw portemonnee, wat veel veiliger is dan uw geld te vertrouwen met uitwisselingen, niet uw sleutels, niet uw munt, en zorg ervoor dat u goede uitwisselingen kiest met een goede reputatie als het gaat om het kopen van uitwisselingen zoals binance en kucoin en anderen.