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Re: Is anyone open to the idea that Satoshi invented a brilliant new...
A Ponzi scheme is an investment scam designed to provide significant returns to earlier investors ...
A Ponzi scheme is not designed to reward early investors. Its purpose is to enrich the operator.
A Ponzi scheme may pay high returns to early investors in order to convince more people to invest more, but eventually the operator takes all the money except for the small portion paid out in returns.
You are right the main purpose of a Ponzi scheme is to serve the person or group behind it, whom we can call the <operator> Most of the returns go back to the operator<or else why would they run such a scheme?
> but my focus is on how it works. To keep the scheme running the operator must continue paying early investors to build credibility and attract more investors it's all about sustainability. The cycle will continue as long as new investors keep coming in, but the Ponzi will collapse when there aren’t enough new investors.Re: Is anyone open to the idea that Satoshi invented a brilliant new...
Is anyone open to the idea that Satoshi invented a **brilliant** new type of sustainable Ponzi scheme, unlike anything the world ever saw before? Please, turn off your "flame-throwers", and understand there are some obvious similarities - like extreme wealth for the early participants & the way new money needs to keep coming in, or prices will fall sharply, etc. Once you understand the similarities and the way BTC is apparently sustainable, is there anything wrong with being a brilliant new type of Ponzi?
A Ponzi scheme is an investment scam designed to provide significant returns to earlier investors using the capital contributed by newer investors rather than generating any real profits in Bitcoin, it is true that early investors who hold onto their assets may enjoy huge returns these returns are not derived from the investments of newer participants but rather from the increase in the price of Bitcoin over time. This price surge has resulted from various factors driving demand for +16 years. It is also worth noting that not all wealthy Bitcoin holders are early participants in fact many of the current top holders are exchanges, institutions, and companies that have entered the market in the last decade.
Satoshi mined in early days approximately 22,000 blocks, each rewarding him with 50 BTC while no one can confirm or deny whether Satoshi has continued to mine Bitcoin until today, that initial mining allowed him to acquire around 1.1 million BTC, which is roughly 5.24% of the max supply. He has largely left those coins untouched with the exception of some address's like:1CGT3Ywaa2upJfWtUtbXonDPNTfZPWqzmA < that i assume it have been hacked somehow as someone like him wouldn't make this mistake while a lot of eyes are watching his wallets> This raises the question: is this the behavior of someone operating a Ponzi scheme? Holding onto such a realy huge wealth estimated at over $98 billion at the current Bitcoin price would place him at number 18 on the Forbes billionaires list<if he is still alive>
Its interesting that people often criticize Satoshi for the coins he mined which I believe he did this to test the stability of mining even if he kept it as a reward for his invention which is one of the truly great innovations in human history. Meanwhile, it is common for teams and devs in other cryptocurrency projects to take around 5-10% of the printed total supply and extra +5% often under various designations such as <labs, community fund, charitable initiatives,.. etc>. In many cases they eventually dump these coins back into the market, yet they escape scrutiny while Satoshi is labeled as a Ponzi schemer or questioned about his motives for holding such wealth
Currently, Michael Saylor, a large holder of Bitcoin, is still accumulating Bitcoin and according to his estimate, there is a high possibility of Bitcoin reaching 1 million by 2050. Bitcoin predictions are such that even if they seem unrealistic at first, they later turn into reality.
As mentioned Michael Saylor, his company MicroStrategy announced its intention to explore purchasing Bitcoin back in 2020. This shows that they are not early participants, yet MicroStrategy has become the world's largest corporate holder of Bitcoin.Will Trump coin replace Bitcoin?
LMAO I can safely say that you've gone beyond the supercluster and then past the great supercluster by this comparison. Congrats
.Re: How to get BTC from bit address.org paper wallet into Coinbase?
Blue wallet option:
(Before proceeding make sure your device is secure. Check that it has up to date antivirus software and is free from malware to protect your wallet and personal information)
- Launch the Blue wallet app on your device.
- Tap on the "+" sign to add a new wallet.
- Select the option “Import Wallet”.
- You’ll be prompted to enter the key in your case compressed WIF<52 characters long> Type it in carefully to avoid any mistakes.
- Once you've entered your WIF click on “Done”.
- After importing you may need to choose the type of wallet, select "Legacy (P2PKH)" from the options available.
- Click on “Import” to confirm and complete the process.
Now that your wallet is imported you should have access to your coins
If you want to transfer your coins to your Coinbase account find your Coinbase Bitcoin receive address and use the Blue wallet app to send your coins there.
Before sending all in one transaction consider a test transaction with small amount this way you can ensure everything is working correctly without risking a lot of money.
If you encounter any errors during the process please share the error message you see (without revealing any private information) so others can assist you.
OK, so I am going to proceed with this option (and THANK YOU FOR REPLYING WITH THIS INFO!).
I downloaded Blue Wallet from the App Store on my iPhone. I have imported a few small BTC wallets (both from public key for watch-only and from private key for full control/spend), $100 or less of BTC value, and everything worked flawlessly. Now I am ready to do the big/real one.
If you focus on the above replies, keywords like: security, malware, hackers, safe keep coming up and for good reason. It's clear that security is a major concern when discussing wallet apps, The replies above have shared experiences to help others avoid losses and I appreciate their intentions.
Choosing between hot and cold wallets or online and offline methods, I already said:
- If security is your top priority I recommend looking into LoyceV's guidance on <Offline and running without hard drive storage> as this's one of the safest options available to minimize exposure to online threats.
To clarify a few points:
- Just because you’ve used the same device for other crypto without issues doesn’t mean it’s safe as some malwares targets specific types of keys, backup files, .. etc.
- Testing with small amounts doesn’t guarantee safety as some hackers might target larger sums instead.
- Avoiding installing suspicious apps or files isn’t a foolproof way to ensure safety as there are many seemingly legitimate apps that can still compromise your data even screenshots and saved files thats include any data in your clipboard (I might share a topic related to this)
- Whether Coinbase is a good option or not isn’t the main focus here the OP topic is about moving his father's coins from a paper wallet to Coinbase since he is already a user of Coinbase I assume he is familiar with the exchange and wallet rules and knows how to use it <correct me if my assumption is wrong>
It’s important to note that not all hot wallets are compromised, not all devices are hacked, and not every online method is at risk <I use Blue and similar options on my iPhone almost daily for couple of years and I have never been compromised> However, there is a potential risk of exposure when using them without a solid understanding of security practices if you believe you have thoroughly evaluated your device security and you are confident that it's secure you can consider using the Blue wallet option but if you’re unsure about your device security it’s best to stick with the safer options suggested by LoyceV.
Having a Bitcoin ATM in every store branch sounds like a smart business move. It shows that the company understands Bitcoin is becoming more popular and will be used for everyday purchases, just like regular money. I am talking about Costco. The news says they are putting Bitcoin ATMs in all their stores across the USA.
The biggest benefit is that it will increase their revenue.
However, there is a downside. They will need more security. We have heard stories of criminals stealing Bitcoin ATMs. There is also a risk that criminals might follow people home after using the ATM to try and steal their Bitcoin.
https://www.instagram.com/vvoyagevirtual/p/DFrK4mpRI3x/
Do you think that this is a smart move or security concern?
The biggest benefit is that it will increase their revenue.
However, there is a downside. They will need more security. We have heard stories of criminals stealing Bitcoin ATMs. There is also a risk that criminals might follow people home after using the ATM to try and steal their Bitcoin.
https://www.instagram.com/vvoyagevirtual/p/DFrK4mpRI3x/
Do you think that this is a smart move or security concern?
Interesting topic!
Quote Bitcoin white paper titled <Bitcoin: A Peer-to-Peer Electronic Cash System.> I believe that the essence of a "peer-to-peer system" is to operate without a central authority rather, the blockchain itself should facilitate transactions, regardless of the businesses involved or their associated fees.
In my view, the term "Electronic Cash System" signifies more than just transactions, it encompasses trades, cash swaps, transfers, and everything else we do with cash. While it may seem challenging for community to set up their own ATMs globally, businesses like Costco won't provide this service for free. They will need to incorporate not just the blockchain fees but also operational and maintenance costs, meaning revenue generation is a fundamental aspect of their decision.
Security Risk? yes, I believe they're significant. There's a misconception that Bitcoin users are all wealthy, base on my last check only about 1 million wallets holding 1 Bitcoin or more <Bitcoin blockchain> including those belonging to Satoshi ,exchanges, companies, and institutions. It's unlikely we’d see such entities withdrawing from a public ATM and sure not Satoshi
which does bring up concerns about potential thefts. It’s puzzling why Bitcoin users are frequently targeted for crimes shouldn’t there be equal scrutiny towards fiat ATMs?I support the notion that Bitcoin payment options should be available everywhere and that ATMs should indeed support Bitcoin withdrawals. However, this should be done through the blockchain itself + logical service fees, rather than prioritizing revenue for businesses. Before we can fully embrace such advancements, it’s crucial that the world gains a better understanding of Bitcoin, as BTC offers a groundbreaking solution to the issues in the broken traditional cash systems.
How many steps of 2FA are required to access your account as mentioned by Charles-Tim?
I can't help but to nitpick this part: those aren't "steps of 2fa" he's talking about Also wallet like bBockstream Green has 2FA wallet. It has both 2-of-2 and 2-of-3 2FA wallet.
It's Green's "MultiSig Shield" 2FA wallet feature that utilizes MultiSig which can be 2-of-2 (default) or 2-of-3 which is about the number of required signatures and cosigners.
Thanks for clarifying that
My bad, I got it wrong. TBH, I haven't used the mentioned wallet before, so I was a bit off track. What I was really trying to refer to was the level of security authentications you set up for accessing accounts, similar to what some exchanges offer.
A lot of people feel it's best to buy Bitcoin during a dip, others feel quite the opposite.
But the fact is there is no Best time to buy in the market, but rather a right time for you to buy!
Buying during a dip yes is quite strategic but you'll also miss a lot while waiting for a dip.
Everyone should buy according to their financial capabilities, if you don't have much to buy, and decide to wait for a dip is alright, and if you are financially capable to buy at anytime it's still alright.
N/b you cut your coat below your size and not according, if you want to be a success!.
But the fact is there is no Best time to buy in the market, but rather a right time for you to buy!
Buying during a dip yes is quite strategic but you'll also miss a lot while waiting for a dip.
Everyone should buy according to their financial capabilities, if you don't have much to buy, and decide to wait for a dip is alright, and if you are financially capable to buy at anytime it's still alright.
N/b you cut your coat below your size and not according, if you want to be a success!.
Most people will say the best time to buy is during a dip but it’s funny because I usually end up buying the dip of the dip and it just keeps dipping
I've found that DCA supports over a HTF works better for me it helps me get a more logical average without stressing about trying to hunt the dips
Also, I wonder why b=5 was picked for secp224k1, where b=2 would work as well, and would lead to the same n-value. Are there any hidden constraints, that should be considered, when picking b-value?
https://csrc.nist.gov/pubs/sp/800/186/final
I am trying to retrieve my Bitcoin. I had one long ago and had 2fa. Is there any way I can retrieve it with my id or documents?
I hope you manage to recover your Bitcoin Here are some questions to help clarify your situation:
Was your Bitcoin stored in a wallet or on an exchange?
Is the platform KYC or non-KYC?
Do you have any backup from your 2FA setup?
Can you provide proof of ownership like the email linked to the account or your transaction history(Not for share this will help you if you contact support)?
Do you have any data or backup files such as a seed phrase or any hints related to your Bitcoin(Not for share too this will help you if you contact support)?
Was your 2FA set up with an authenticator app or SMS?
How many steps of 2FA are required to access your account as mentioned by Charles-Tim?
Also wallet like bBockstream Green has 2FA wallet. It has both 2-of-2 and 2-of-3 2FA wallet.
Providing answers to these questions can help in guiding you further
Re: How to get BTC from bit address.org paper wallet into Coinbase?
Before proceeding make sure your device is secure.
You can't possibly be sure about this, there's always a risk. Which is why it's safer to assume your device is compromised, and act accordingly. If you're talking about $100k or more, why rush things instead of spending a few hours extra to do it 100% safe?[/quote]
I completely agree with you on "there's always a risk" when dealing with funds in general regardless of the amount it's wise to consider the possibility of a compromised device and take extra precautions.
That said I didn’t want to veer off into a separate discussion about security since the OP was primarily asking about wallet options.
However, I did add a bold note to evaluate his device's security as it's an important aspect that can vary based on individual understanding and usage.
Thanks for bringing that up it's definitely something everyone should keep in mind while exploring wallets options.
Re: How to get BTC from bit address.org paper wallet into Coinbase?
OK, so now I have what appear to be 2 good and uncomplicated options to solve this problem (thanks again everyone!).
1) I have OmegaStarScream (forum staff) telling me to download ELECTRUM (on my Mac, which I already did), then import my BTC private key into Electrum and then send it from Electrum to my father's Coinbase BTC receive address. That sounds quick and easy, just what I was hoping!
2) Then I have magick (forum newbie) telling me to download BlueWallet onto my dad's iPhone (which I thought we had already tried but I will have to check again, maybe not) and then import the paper wallet by simply choosing that (Import Wallet) option and entering the 52 character private key, which then allows access to the BTC, which I can then send to my dad's Coinbase BTC receive address. Sounds equally quick and easy as the first option.
(OmegaStarScream and magick do either of you have anything to share about the others' recommendation?)
So which is better?
Is there a "better" or is it just a matter of preference and comfortability?
Is 1 of these 2 seemingly great options clearly a preferable choice in any way?
And, BTW, nothing in any of this advice have I seen "go offline" or "disconnect from the internet" type instruction. It appears that these days you can just type a private key into Electrum on your web-connected Mac or BlueWallet on your 5G connected iPhone and the BTC will just show up without hassle or fear of loss/theft. Is that really true? That's what it sounds like.
Thanks again.
1) I have OmegaStarScream (forum staff) telling me to download ELECTRUM (on my Mac, which I already did), then import my BTC private key into Electrum and then send it from Electrum to my father's Coinbase BTC receive address. That sounds quick and easy, just what I was hoping!
2) Then I have magick (forum newbie) telling me to download BlueWallet onto my dad's iPhone (which I thought we had already tried but I will have to check again, maybe not) and then import the paper wallet by simply choosing that (Import Wallet) option and entering the 52 character private key, which then allows access to the BTC, which I can then send to my dad's Coinbase BTC receive address. Sounds equally quick and easy as the first option.
(OmegaStarScream and magick do either of you have anything to share about the others' recommendation?)
So which is better?
Is there a "better" or is it just a matter of preference and comfortability?
Is 1 of these 2 seemingly great options clearly a preferable choice in any way?
And, BTW, nothing in any of this advice have I seen "go offline" or "disconnect from the internet" type instruction. It appears that these days you can just type a private key into Electrum on your web-connected Mac or BlueWallet on your 5G connected iPhone and the BTC will just show up without hassle or fear of loss/theft. Is that really true? That's what it sounds like.
Thanks again.
I think when it comes to choosing between wallets it really boils down to personal preference and comfort level with the options available as each has its strengths and there's no one size fits all answer.
For instance, if you're leaning towards using your phone Blue wallet can be a great choice because it's user friendly and works on both iOS and Android devices.
Just remember a few tips to keep your coins safe:
- Always make sure to download any app from their official website to avoid any potential security issues.
For Blue wallet you can start here: https://bluewallet.io which will redirect you to the appropriate app store for your device.
- If security is your top priority I recommend looking into LoyceV's guidance on <Offline and running without hard drive storage> as this's one of the safest options available to minimize exposure to online threats.
- You may want to generate a new paper wallet from https://www.bitaddress.org for testing purposes this allows you to experiment with giving options using the test keys before proceeding with your actual key.
- Make sure to read up on the wallet you choose including details about the types of keys and formats it supports this will help you avoid any issues when importing or accessing your funds.
- Check reviews and community feedback on the wallet app you want to use this can give you additional insights into its reliability and performance.
- Before you transfer a large amount of Bitcoin it’s wise to conduct a small test transaction this way you can confirm everything works smoothly without risking your full balance.
Ultimately, it’s about finding an option that suits your needs best so take your time researching and evaluating what each wallet offers.
Feel free to ask if you have more questions
Re: How to get BTC from bit address.org paper wallet into Coinbase?
⭐ Merited by pooya87 (2)
I am familiar with BTC/crypto and Coinbase but by no means an expert (or even very well educated). My elderly father and I both have Coinbase accounts with minimal amounts of various cryptos contained there. I signed up for this forum today to ask this question. I apologize if this or a very similar question has been asked before on this forum (I'm sure it has). I thought it more expedient to ask my specific Q with my specific set of circumstances rather than try to slog thru hundreds of other posts trying to find an exact match to the answer I need.
Here is the problem...
My father has a couple BTC stored on a single paper wallet. It is an OLD paper wallet created by a friend of his in 2019 or 2020 on bitaddress.org and printed out on a piece of paper. There is a QR code, a public key, and a private key. The private key is 52 characters long (not 64) and it starts with the letter L.
We have tried several different ways of getting this paper wallet imported into Coinbase so my father can have liquid access to the funds by doing withdrawals out of Coinbase into his linked checking account. We have been unsuccessful in getting the BTC paper wallet imported into Coinbase (or into ANY other type of wallet for that matter, be it MyEtherWallet (MEW), BlueWallet, TrustWallet, etc, having been informed that Coinbase cannot accept paper wallet imports directly, which seems ridiculous). When we try to scan the QR code on the paper wallet with his iPhone into one of these online wallets the "transaction" or "import" is rejected. When we tried to type in the full 52 character private key into MEW, the transaction simply never materialized as if it had never been attempted. When we got in touch with MEW customer service they said that the "format" or "style" of paper wallet we had was not supported by their system and the attempted import of the wallet was unsuccessful/ignored.
We have been told that we need to import the paper wallet into an intermediary wallet like TrustWallet or MEW so that we can get the BTC into a Trezor/Ledger cold wallet and then we can import the contents of the Ledger cold wallet into Coinbase. Is this accurate? We would rather not do this if not totally necessary, preferring to simply go from paper to intermediary online wallet to Coinbase if possible.
How can my father and I transfer the ALL of the BTC from the 52-character bit address.org paper wallet into some other intermediary wallet and then into Coinbase all at one time with with one set of transfers/transactions so that my dad can have his BTC in Coinbase liquid and ready to cash out? Because literally what the hell good is BTC even if it's worth a million a coin if you cannot gain access to the money to actually spend it on real life?? (It's like a $100,000 pre-paid credit card frozen in a block of ice... worth $100k and worthless at the same time.)
Please help this Gen X crypto novice help his Boomer dad gain access to this desperately needed financial asset that he owns but cannot use. THANKS!
Here is the problem...
My father has a couple BTC stored on a single paper wallet. It is an OLD paper wallet created by a friend of his in 2019 or 2020 on bitaddress.org and printed out on a piece of paper. There is a QR code, a public key, and a private key. The private key is 52 characters long (not 64) and it starts with the letter L.
We have tried several different ways of getting this paper wallet imported into Coinbase so my father can have liquid access to the funds by doing withdrawals out of Coinbase into his linked checking account. We have been unsuccessful in getting the BTC paper wallet imported into Coinbase (or into ANY other type of wallet for that matter, be it MyEtherWallet (MEW), BlueWallet, TrustWallet, etc, having been informed that Coinbase cannot accept paper wallet imports directly, which seems ridiculous). When we try to scan the QR code on the paper wallet with his iPhone into one of these online wallets the "transaction" or "import" is rejected. When we tried to type in the full 52 character private key into MEW, the transaction simply never materialized as if it had never been attempted. When we got in touch with MEW customer service they said that the "format" or "style" of paper wallet we had was not supported by their system and the attempted import of the wallet was unsuccessful/ignored.
We have been told that we need to import the paper wallet into an intermediary wallet like TrustWallet or MEW so that we can get the BTC into a Trezor/Ledger cold wallet and then we can import the contents of the Ledger cold wallet into Coinbase. Is this accurate? We would rather not do this if not totally necessary, preferring to simply go from paper to intermediary online wallet to Coinbase if possible.
How can my father and I transfer the ALL of the BTC from the 52-character bit address.org paper wallet into some other intermediary wallet and then into Coinbase all at one time with with one set of transfers/transactions so that my dad can have his BTC in Coinbase liquid and ready to cash out? Because literally what the hell good is BTC even if it's worth a million a coin if you cannot gain access to the money to actually spend it on real life?? (It's like a $100,000 pre-paid credit card frozen in a block of ice... worth $100k and worthless at the same time.)
Please help this Gen X crypto novice help his Boomer dad gain access to this desperately needed financial asset that he owns but cannot use. THANKS!
Blue wallet option:
(Before proceeding make sure your device is secure. Check that it has up to date antivirus software and is free from malware to protect your wallet and personal information)
- Launch the Blue wallet app on your device.
- Tap on the "+" sign to add a new wallet.
- Select the option “Import Wallet”.
- You’ll be prompted to enter your the key in your case compressed WIF<52 characters long> Type it in carefully to avoid any mistakes.
- Once you've entered your WIF click on “Done”.
- After importing you may need to choose the type of wallet, select "Legacy (P2PKH)" from the options available.
- Click on “Import” to confirm and complete the process.
Now that your wallet is imported you should have access to your coins
If you want to transfer your coins to your Coinbase account find your Coinbase receive address and use the Blue wallet app to send your coins there.
into some other intermediary wallet and then into Coinbase all at one time with with one set of transfers/transactions so that my dad can have his BTC in Coinbase
Before sending all in one transaction consider a test transaction with small amount this way you can ensure everything is working correctly without risking a lot of money.If you encounter any errors during the process please share the error message you see (without revealing any private information) so others can assist you.
Re: Pairs of matching n-values in secp256k1 with changed b-values
Recently, I was quite surprised, when I saw that there are six different n-values, matching different b-values in secp256k1:
Code:
+-----+---------------------------------------------------------------------+
| b | n |
+-----+---------------------------------------------------------------------+
| 0x1 | 0xfffffffffffffffffffffffffffffffe06f23032560e83e138ea6fc857fb4794 |
| 0x2 | 0x1000000000000000000000000000000014551231950b75fc4402da1712fc9b71f |
| 0x3 | 0xffffffffffffffffffffffffffffffff4c43534ba6c5e3a57918113a87c50283 |
| 0x4 | 0x100000000000000000000000000000000b3bcacb4593a1c5a86e7eec3783af5dd |
| 0x6 | 0x100000000000000000000000000000001f90dcfcda9f17c1ec7159035a804b0cc |
| 0x7 | 0xfffffffffffffffffffffffffffffffebaaedce6af48a03bbfd25e8cd0364141 |
+-----+---------------------------------------------------------------------+
They are repeating over and over again, as b-value is incremented. However, it also seems they can be connected in pairs, each giving the same sum:| b | n |
+-----+---------------------------------------------------------------------+
| 0x1 | 0xfffffffffffffffffffffffffffffffe06f23032560e83e138ea6fc857fb4794 |
| 0x2 | 0x1000000000000000000000000000000014551231950b75fc4402da1712fc9b71f |
| 0x3 | 0xffffffffffffffffffffffffffffffff4c43534ba6c5e3a57918113a87c50283 |
| 0x4 | 0x100000000000000000000000000000000b3bcacb4593a1c5a86e7eec3783af5dd |
| 0x6 | 0x100000000000000000000000000000001f90dcfcda9f17c1ec7159035a804b0cc |
| 0x7 | 0xfffffffffffffffffffffffffffffffebaaedce6af48a03bbfd25e8cd0364141 |
+-----+---------------------------------------------------------------------+
Code:
+-----+---------------------------------------------------------------------+
| b | n |
+-----+---------------------------------------------------------------------+
| 0x1 | 0xfffffffffffffffffffffffffffffffe06f23032560e83e138ea6fc857fb4794 |
| 0x6 | 0x100000000000000000000000000000001f90dcfcda9f17c1ec7159035a804b0cc |
| sum | 0x1fffffffffffffffffffffffffffffffffffffffffffffffffffffffdfffff860 |
+-----+---------------------------------------------------------------------+
| 0x2 | 0x1000000000000000000000000000000014551231950b75fc4402da1712fc9b71f |
| 0x7 | 0xfffffffffffffffffffffffffffffffebaaedce6af48a03bbfd25e8cd0364141 |
| sum | 0x1fffffffffffffffffffffffffffffffffffffffffffffffffffffffdfffff860 |
+-----+---------------------------------------------------------------------+
| 0x3 | 0xffffffffffffffffffffffffffffffff4c43534ba6c5e3a57918113a87c50283 |
| 0x4 | 0x100000000000000000000000000000000b3bcacb4593a1c5a86e7eec3783af5dd |
| sum | 0x1fffffffffffffffffffffffffffffffffffffffffffffffffffffffdfffff860 |
+-----+---------------------------------------------------------------------+
The question is: does it mean that there is some kind of connection between y^2=x^3+7, and for example y^2=x^3+2? Or maybe there is another connection, where points on curves with identical p-value and n-value can be mapped? Does it mean, that if we have b=0x7, where there are "n" points, and for example b=0xc curve also has the same amount of points, then does it mean we can map them 1:1?| b | n |
+-----+---------------------------------------------------------------------+
| 0x1 | 0xfffffffffffffffffffffffffffffffe06f23032560e83e138ea6fc857fb4794 |
| 0x6 | 0x100000000000000000000000000000001f90dcfcda9f17c1ec7159035a804b0cc |
| sum | 0x1fffffffffffffffffffffffffffffffffffffffffffffffffffffffdfffff860 |
+-----+---------------------------------------------------------------------+
| 0x2 | 0x1000000000000000000000000000000014551231950b75fc4402da1712fc9b71f |
| 0x7 | 0xfffffffffffffffffffffffffffffffebaaedce6af48a03bbfd25e8cd0364141 |
| sum | 0x1fffffffffffffffffffffffffffffffffffffffffffffffffffffffdfffff860 |
+-----+---------------------------------------------------------------------+
| 0x3 | 0xffffffffffffffffffffffffffffffff4c43534ba6c5e3a57918113a87c50283 |
| 0x4 | 0x100000000000000000000000000000000b3bcacb4593a1c5a86e7eec3783af5dd |
| sum | 0x1fffffffffffffffffffffffffffffffffffffffffffffffffffffffdfffff860 |
+-----+---------------------------------------------------------------------+
According to Hasse's Theorem: the number of points N on an elliptic curve over a finite field Fp <where p is prime> conforms to the following formula:
|N - (p + 1)| ≤ 2√p
This means that the number of points N is typically close to p+1, with some wiggle room depending on the size of p indicated by the 2√p term
Because of this theorem if two elliptic curves have the same number of points they may share certain properties. However, just because they have the same number of points doesn’t mean there’s a 1:1 correspondence between all of their points we can only potentially create such a mapping for some subsets of points and this doesn’t apply to all points on the curves.
So a lot of bitcoin has been lost due to incorrect wallet addresses and human errors..
I however think that at this point of technological advancement, there should be a way to recover lost bitcoins. Not just bitcoins but other cryptocurrencies too. Now this may not be possibly done by the careless user,
I however think that at this point of technological advancement, there should be a way to recover lost bitcoins. Not just bitcoins but other cryptocurrencies too. Now this may not be possibly done by the careless user,
While some may disagree, it's true that there are lost coins caused by human mistakes, burn addresses (which I believe are completely insane), errors, experiments, etc. We have a point here about how to adjust the supply of minted coins due to these losses as these coins are minted and counted in the total supply yet remain inaccessible?
but it could be found by miners.
Lost bitcoins should have a way to be mined back into the market and Recovered..
Is there a project about this already?? What is your opinion and do you think it's is possible
Lost bitcoins should have a way to be mined back into the market and Recovered..
Is there a project about this already?? What is your opinion and do you think it's is possible
Miners cannot verify whether a coin was sent to the correct address or not that responsibility lies with the sender, since ownership is tied to the private keys if a transaction is sent to an incorrect address the coins remain inaccessible as long as no one else can find the key somehow
However in this case they are not truly lostI would like to thank everyone who replied I read all the responses and it's difficult to respond to everyone due to my lack of experience with such matters (some replay's were deleted for violating forum rules 
).
I summarized the responses in a few points for the benefit of anyone interested in reading the opinions someday:
* Bitcoin follow market cycles historical patterns suggest it could take 8-12 years for Bitcoin to hit that $1 million.
* The entry of big institutional investors has the potential to boost Bitcoin’s price significantly, more major players investing can increase confidence and drive demand.
* To reach $1 million its total market cap would need to rise to about $21 trillion this presents notable challenges requiring widespread global acceptance and investment.
* Bitcoin can experience rapid price surges if interest continues to grow we might see similar explosive growth in the future.
* While the chance for big gains is thrilling it's essential to stay realistic instead of aiming for huge numbers right away focus on smaller achievable goals like $200, $300
* Bitcoin might take another 16 years to hit $1 million since it took that long to reach $100,000.
* Bitcoin might reach $1 million if the circulating supply hits 20 million
* If governments start adopting Bitcoin as a reserve currency it could have a profound impact on its price such backing would legitimize Bitcoin further in the eyes of the public.
* Regulatory changes, global economic conditions and tech advancements are all external factors that will shape the price direction.
* Some believe reaching $1 million may take about 10-15 years adopting a long term view.
Some have replied that continuously accumulating Bitcoin is more beneficial than concentrating on the time it takes to reach a specific price point. I believe this is a fundamental principle that everyone who can should follow regularly. I'm considering creating a separate topic about accumulation once I achieve my target
For me it was very helpful to read the thoughts and various factors from the perspectives of everyone who replied. I’ll keep the topic open for anyone who wants to share new insights or perspectives i’m always interested in reading what others have to say
).I summarized the responses in a few points for the benefit of anyone interested in reading the opinions someday:
* Bitcoin follow market cycles historical patterns suggest it could take 8-12 years for Bitcoin to hit that $1 million.
* The entry of big institutional investors has the potential to boost Bitcoin’s price significantly, more major players investing can increase confidence and drive demand.
* To reach $1 million its total market cap would need to rise to about $21 trillion this presents notable challenges requiring widespread global acceptance and investment.
* Bitcoin can experience rapid price surges if interest continues to grow we might see similar explosive growth in the future.
* While the chance for big gains is thrilling it's essential to stay realistic instead of aiming for huge numbers right away focus on smaller achievable goals like $200, $300
* Bitcoin might take another 16 years to hit $1 million since it took that long to reach $100,000.
* Bitcoin might reach $1 million if the circulating supply hits 20 million
* If governments start adopting Bitcoin as a reserve currency it could have a profound impact on its price such backing would legitimize Bitcoin further in the eyes of the public.
* Regulatory changes, global economic conditions and tech advancements are all external factors that will shape the price direction.
* Some believe reaching $1 million may take about 10-15 years adopting a long term view.
Some have replied that continuously accumulating Bitcoin is more beneficial than concentrating on the time it takes to reach a specific price point. I believe this is a fundamental principle that everyone who can should follow regularly. I'm considering creating a separate topic about accumulation once I achieve my target
For me it was very helpful to read the thoughts and various factors from the perspectives of everyone who replied. I’ll keep the topic open for anyone who wants to share new insights or perspectives i’m always interested in reading what others have to say
Who knows, nothing, if that's what you ask, maybe if you see the speculation that is currently there, whether here or outside/internet/google you will see the price of Bitcoin for $ 1 million will occur this year, even more excited Speculation says later this month, but thatall speculation.
You're right no one knows for sure what the future holds for Bitcoin's price but the reason people are speculating about a $1 million price tag is to gauge the market's long term sentiment it's a way to see if the majority of people are bullish on Bitcoin's future prospects or not.By looking at different people's opinions and knowledge we can gain a more realistic understanding of the market's dynamics it's not just about hoping for a quick windfall but about understanding the underlying factors that could drive the price up or down.
You need to know that everyone or Bitcoin users needed 16 years to wait for the Bitcoin price to reach the $104k level it is today, it doesn't happen in a period of one month or one year it takes 16 years for that, try to predict and speculate for yourself for $1 million, how many years will it take for Bitcoin.
16 years is a long time and it's crazy to think that the price of Bitcoin has reached $109k. It's natural to wonder how long it'll take to reach $1 million.But here's the thing: Bitcoin is still a relatively new technology and it's evolved a lot over the past 16 years. In fact, when it first came out there was no governments support no regulation no large institutional investors and a lot of experimenting going on a lot of heaters and mistakes happend too and yet here we are today.
Bitcoin's growth trajectory is unlike anything we've seen before and its history is still being written. What’s even more remarkable is that the pace of change has accelerated exponentially over the past couple of years if we compare it to the early days it's like night and day. The support from governments and regulations along with adoption by institutional investors and the development of use cases has evolved at an unprecedented rate. The last couple of years have seen more significant developments than the entire first decade of Bitcoin's existence. Therefore, it is more effective to compare these periods in terms of cycles or based on halving events.
So how long will it take Bitcoin to reach $1 million? Who knows? But one thing is for sure it's not going to be a quick or easy predictable process
You shouldn't speculate too high on one Bitcoin price, maybe you first speculate between $200k or $300k, maybe we can understand that.
You're right it's always good to set realistic goals and focus on the next achievable target and that target could be around $200k to $300k as you said but if we're looking at the bigger picture and wanting to see what the long term expectations are then going all the way to $1 million might be a more interesting conversation.Let’s just be happy and stay contented that Bitcoin is now trading strong @100K instead of exaggerating our expectation that price will jump that high immediately on the next few years.
I agree with you it's great to see Bitcoin trading strong at $100k proving its strength but it's not about expecting a huge jump immediately but rather about people's perspective on its potential future growthI’m sure you will create another thread in case Bitcoin will enter the bear market such as when will Bitcoin reach 100K again that lower your expectations.
Bear market topic sounds like a good one I might actually consider a topic about that if it happens, but only if I have a spare 2 hours to dedicate to replying I understand that the confidence is high when the price is trading on higher price but it will just gives a disappointment if Bitcoin didn’t move the way we predict it especially in exaggerated way.
Your are right it’s easy to feel confident when prices are high but it can be really disappointing if Bitcoin doesn’t meet those high expectationsNobody knows when bitcoin will hit the $1m mark, but let's keep our fingers crossed bitcoin will surely achieve that in the future just the way it achieved the $100k mark that people were speculating about for a long time.
Absolutely no one can predict the exact date. The key is to gather knowledge and insights about how people anticipate Bitcoin’s future especially while we are currently in a bull market. It’s interesting to observe the spectrum of expectations in the market.I know everyone is allowed to speculate on any price he or she wishes bitcoin to reach, but as a newbie, I think it's too early for you to start speculating when bitcoin will reach $1m. As a newbie to this forum and bitcoin, I think you should be more concerned to know how this forum works and how to learn about bitcoin and also plan how to start your bitcoin investment so that you will be among those investors that will rejoice when bitcoin reaches the $1m mark in the near future.
Thanks for the advice I’m not new to Bitcoin or this forum I’ve been around for over a decade, just silent reading. This is my first time writing a topic Looking forward to sharing and learning more All bitcoiners will not know when that happen. We can only predict based on the price movements and the history. But that is just prediction without we know if that will really happen at that such date or year.
You're right predicting Bitcoin's future is tricky and often based on speculation. It is better you enjoy the ride and trying to accumulate more Bitcoin so you can sell Bitcoin in any high price you want.
I'm doing my best to enjoy each and every moment of the journey.People can speculate that happen in the next few years but they still don't know if that really happen or not.
Maybe the thing that can drive to that milestone is when Bitcoin become mainstream and use by most people. But that could not be the right reason as we don't know for sure about that.
Well said, Who knows how the market will shift in the coming years right Maybe the thing that can drive to that milestone is when Bitcoin become mainstream and use by most people. But that could not be the right reason as we don't know for sure about that.
What are you overthinking on when it's going to be one million?
To gather more insights from different perspectives. I want to see how others view the market whether they’re bullish or bearish. It also helps me evaluate my own understanding of the market by comparing it with what others are saying. It’s all about learning and growing from different opinionsThe question is, do you have enough Bitcoin stash already, or at least holding 1 BTC right now?
I think that’s a personal matter that shouldn’t be shared openly. There’s really no exact amount that qualifies as “enough Bitcoin” it varies for everyone. As someone who believes in Bitcoin, I think it’s important for everyone to hold some, whether that’s one Bitcoin or even less, depending on their financial situationIf not then don't talk about the price
Who exactly has the right to speak about Bitcoin's price, and under what conditions? continue to accumulate as much as you can
I totally agreeUnfortunately, everything is base on wild and pure speculation. Which means we really don't know when it's going to achieved that price as we don't have the control. One thing though that we can do is just not overthink and let the market do it's normal flow.
You're right speculation can be extremely unpredictable at times, so sometimes it's best to just ride the waves and trust the market