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Showing 20 of 33 results by ormatr
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Board Bitcoin Discussion
Re: Internet is one limitation of bitcoin
by
ormatr
on 15/05/2023, 17:40:32 UTC
Internet services now resumed in the country but social media services are still down in the country. But there is a fix to that we are using vpn to sccess Social media.
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Topic
Board Bitcoin Technical Support
Re: help with stuck txid
by
ormatr
on 13/05/2023, 09:13:52 UTC
Since you control neither the sending wallet nor the receiving wallet, then you cannot use either RBF nor CPFP. There are no free accelerators other than ViaBTC. Your only remaining option is to privately pay a miner to include your transaction if you are that desperate for a confirmation. You can also do this via ViaBTC, but the cost is usually quite high.

The knowledge you have on bitcoin suggests either you are Satoshi Nakamoto or someone very close to him.
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Board Bitcoin Technical Support
Re: [May 2023] Fees are high! Wait for opportunity to Consolidate your small inputs
by
ormatr
on 12/05/2023, 18:42:19 UTC
Why Bitcoin fee has gone so high these days?

is it because number of transactions per day have gone up from 400k to 600k? https://bitinfocharts.com/comparison/bitcoin-transactions.html#3m
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Topic
Board Bitcoin Technical Support
Re: Internet is one limitation of bitcoin
by
ormatr
on 12/05/2023, 11:23:45 UTC
There are alternative options, although they will take a bit of time and effort in order to set up and use.

The easiest way to stay synced with the network without an internet connection is via Blockstream Satellite. It is possible to repurpose any old satellite dish in order to do this.

In order to broadcast a transaction, you need to get it to someone with an internet connection. This might be someone who has bypassed government restrictions, or maybe someone who lives near a border and can use the connection of another country, or someone outside your country altogether. You can get it to them via a mesh network such as goTenna, via SMS, via radio, or any other way you like.


Thanks for sharing this useful info.
Situation is getting better now and hopefully today or by tomorrow internet facility will be restored.
But Blockstream Satellite is useful thing that can help you in case of situation which Bitcoiners are facing in Pakistan. 
A very useful info in the homepage of Blockstream Satellite
"Internet Not Required
Blockstream Satellite broadcasts the Bitcoin blockchain to the entire planet via satellite, reducing Bitcoin’s dependency on internet access. Everyone in the world now has an opportunity to use Bitcoin."
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Topic
Board Bitcoin Technical Support
Re: Internet is one limitation of bitcoin
by
ormatr
on 12/05/2023, 09:19:51 UTC
This is not the problem of bitcoin, but the problem with your government that disabled internet in your country. You can use Starlink instead of relying on local service providers.

Elon Musk's Starlink finally registered in Pakistan to roll out internet services. ISLAMABAD – Elon Musk's famous satellite broadband provider Starlink has reportedly registered to operate and provide internet services in Pakistan.

This service is still not started in Pakistan they just got registered.
The point is in case of Internet blackout we have no access to bitcoin.
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Topic
Board Bitcoin Technical Support
Merits 4 from 1 user
Topic OP
Internet is one limitation of bitcoin
by
ormatr
on 12/05/2023, 06:48:22 UTC
⭐ Merited by o_e_l_e_o (4)
I am facing a real world issue that prevents me from using Bitcoin.

I live in Pakistan and for last three days cellular internet service all across the country is suspended because of prevailing law and order situation. Internet is working on fixed line connection that is reaching homes. So there is still some connectivity available.

If government shut down internet service even on fixed line connection then there will be complete internet blackout in the country and in that situation we cant use bitcoin.

I think this is also one of limitation of bitcoin that we need internet to use it. 
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Topic
Board Bitcoin Technical Support
Re: To receive bitcoins, you must be connected to the Internet ????
by
ormatr
on 10/05/2023, 17:32:07 UTC
1. Oh yeah. This seed can be used to derive your private key. It is not the actual private key, but if you have access to the seed, then it is essentially the same thing.

As a user I have nothing to do with private key. its something generated at back end of wallet and wallet take care of it.
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Topic
Board Bitcoin Technical Support
Re: To receive bitcoins, you must be connected to the Internet ????
by
ormatr
on 10/05/2023, 13:49:14 UTC

Don't worry about merit! I am happy to help.

1. Unfortunately I don't use electrum, so I don't really know what password you are referring to. Normally, most modern wallets support BIP-39 which is an improvement that allows you to memorize and back-up (always offline) 12 - 24 english words from a list of 2048 words. Those 12 - 24 words can help you recover your private key. Please check here: https://learnmeabitcoin.com/technical/mnemonic. Some applications also allow you to use a password, but this not related to bitcoin protocol. It is application specific as an extra measure of safety. If you forget your password, you don't have to worry as you can enter your 12-24 words to another software and have access to all of your funds. If you lose and forget your 12-24 words, you lose everything.

2. What do you mean public addresses? They can be shared without risk, if this is your question.

Extra note: Since I understand that this is your first contact with Bitcoin, make sure to be ultra safe when backing up your wallet. Don't share anything with anyone unless you are absolutely sure.

1. In Electrum there is a 'seed' which is also a collection of words (dont know whether they are 12 or 24). I always wrote it down on paper and after that I select password. Seed can be used to recover wallet in case your device is compromised (for any reason). In that case Seed is private key?

2. There are many addresses in our wallet on which we can received funds. All such addresses are our Public keys?

3. Why at the moment Bitcoin fee is so high? 22 dollars for ETA within 5 blocks. normally its 0.3 to .5 dollars or even less.
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Topic
Board Bitcoin Technical Support
Re: To receive bitcoins, you must be connected to the Internet ????
by
ormatr
on 10/05/2023, 12:48:07 UTC

Thanks for the help. Your reply need some merits but unfortunately I don't have any at the moment. Once I have I will share on that post. I have 2 more questions.

1. So private key is made from the password which I choose while creating the wallet? Is there any way I can see whats my private key?

2. There are so many addresses in our wallets, are they all public addresses ?

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Topic
Board Bitcoin Technical Support
Re: To receive bitcoins, you must be connected to the Internet ????
by
ormatr
on 10/05/2023, 04:44:22 UTC
Where are coins stored when I'm not online and sent Huh

The coins are "stored" in the blockchain.
Electrum holds the keys that can "unlock" your ability to spend bitcoin you have received.
Electrum (and every other wallet) DON'T store coins. They only store keys. That's a common misconception.

In order to "receive" coins, you need NOTHING at all. Just give someone an address.

You need Internet in order to:
1. Monitor your incoming transactions and perhaps get notifications about them.
2. Broadcast transactions a.k.a "send coins"

You don't need Internet to:
1. Receive coins
2. Sign transactions (assuming you will broadcast them later)
3. Create new wallets aka new pairs of keys

I hope I have answered your question. You don't need Internet to receive bitcoin. Coins are stored nowhere. That's not how it works. If someone wants to send you coins, they have to broadcast a transaction and let people (other nodes and miners) know that they have sent the coins. Once you open up electrum you need Internet to "see that you have received the coins".

I keep reading about this "keys". Can you please tell me where I can  find key in my Electrum wallet?
Every Electrum has how many keys and are they public or private 
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Topic
Board Bitcoin Technical Support
Re: Bitcoin core tx stuck for more than 24 hours
by
ormatr
on 05/05/2023, 18:22:10 UTC
Fees are not necessary for the processing of the transaction on Bloakchcain but it gives extra priority to incentivize miners for processing transactions faster in the block.

Fees are necessary!
Imagine how the mempool would look right now if we didn't have fees!

More transactions => larger data size => more workload. Imo, when the network is congested and over-loaded, miners have to work extra hard to include each of those transactions in the block and for that we need to pay more  fees to help them cover the cost.

There is no such thing, a miner will do the same amount of work for an empty block and a full block, there is this misconception with the transactions numbers or size or fees require something extra from the miners when it's not the case. Also, it's a bit silly, what "extra" work would miners have to do for this and how would they even do it?

1. I just want to know if they are already getting reward in the form of bitcoin they why there is additional fee we have to pay for every transaction?

To prevent spam.
If it weren't for fees you could split one bitcoin into 100 000 outputs with zero fees and then consolidate and split again occupying all the blocks that day without paying a cent, rendering the network useless, with a fee it will always cost the attacker a ton of coins to do so and you could always outbid him if it's something urgent while he must do this continuously.
Later on, it will be of use to incentivize miners to keep mining as fees grow in % vs the reward but we're not there yet in normal low fee times.



So what is best way to calculate fee? whenever I try to send something from my electrum I have to pay in sat/byte. All i know is scroll it to right to quick and fast and scroll it to left for slow settlement time.
Just wanna know what this sat/byte is and how to set it effectively.
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Topic
Board Bitcoin Technical Support
Re: Bitcoin core tx stuck for more than 24 hours
by
ormatr
on 05/05/2023, 05:24:02 UTC
It's crazy, the network is totally congested as of now and I'm about to transact and was surprised that the fee being asked to me by my wallet is around 7 bucks = 123sat/vbyte. This is the recommended and fastest one but it can be adjusted but it will take hours for it to get confirmed.
As the mempool was very congested yesterday, I was still able to use 17.5 sat/vbyte and my transaction got confirmed in approximately 10 minutes (not up to 10 minutes).

We can see the mempool becoming less congested. It is at 24 sat/vbytes now.

Mining difficulty will also soon be adjusted.

We know that miners are getting reward from Bitcoin blockchain for the work they are doing for managing the blockchain.

I just want to know if they are already getting reward in the form of bitcoin they why there is additional fee we have to pay for every transaction?
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Topic
Board Tokens (Altcoins)
Re: [ANN] [CATA]Flow | NFT | Middleware | Decentralized Cloud Storage
by
ormatr
on 03/12/2022, 18:50:55 UTC
If you are talking about decentralied projects then there are few good one available in the market like IPFS and filecoin. Yet that doesnt mean that there is no roam for new projects. CATA can see what these projects are not offering and can launch there projects after studying them. There is so much content about IPFS and filecoin already available in the market. May be this is a good hint for team CATA.

The decentralized storage system like IPFS can no doubt hold massive data, but there shortcoming is that there is weak interactivity in such system implementations. If CATA can address such issues then that can be a big plus for them.


There are decentralized storage system available and the biggest thing in my view is that they dont offer any query capability that's results in non availability of features like extracting data of your choice or slow searching in stored data. Moreover there is no copy right protection in NFT world, this is something badly required in NFT.
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Topic
Board Tokens (Altcoins)
Re: [ANN] [CATA]Flow | NFT | Middleware | Decentralized Cloud Storage
by
ormatr
on 09/09/2022, 17:28:21 UTC
On of the good news about CATA fans is that there social media accounts like twitter are finally a bit active. They need to put more focus on there social media channels.
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Topic
Board Tokens (Altcoins)
Re: [ANN] [CATA]Flow | NFT | Middleware | Decentralized Cloud Storage
by
ormatr
on 23/07/2022, 18:52:44 UTC
What type of NFTs will be available on CATA? I wonder if there is collection of NFT for CATA then they must by now should have launched the collection So that by the time they launch project there is adequate number of people who have this collection. Dont know what they are waiting for.
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Topic
Board Tokens (Altcoins)
Re: [ANN] [CATA]Flow | NFT | Middleware | Decentralized Cloud Storage
by
ormatr
on 12/07/2022, 18:42:40 UTC
As long as there is no team info and no info about whether the company is registered somewhere or not i don't think they will attract much business. To gather more business there is a need to get in contact with people which sadly this team is not doing.

There are not many projects that are offering decentralized storage options, this is first of its kind. I dont think people are very much interested in team behind the project rather they want to get the product and return.
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Topic
Board Announcements (Altcoins)
Re: [ANN] Xcavator - A Crypto Utility Token for Crypto Mining
by
ormatr
on 28/06/2022, 17:45:16 UTC
I suggest better to register your project in some country also. This will help you in getting more people attention, since there is too much anonymity these days and people are not willing to invest in blind projects. Just my few satoshis.

Yes thats very much necessary these days. Since it means you are physically existing somewhere and that gives people a good option for investment. In early days people can invest in any project that looks good but now investors are a bit choosy.
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Topic
Board Speculation (Altcoins)
Re: BOOM - First Self-Burning Cryptocurrency Based on Smart Contract
by
ormatr
on 08/06/2022, 18:15:46 UTC
There is very little chance of BOOM going up in coming days, the market is not very much positive and BOOM behavior throughout this bull run is also very disappointing. My advice is not to jump into such coins at the moment.

Better find some other coin since I dont think there is chance of BOOM to go up there is no development coming from BOOM side and there token burning will take time before it will reach to a place where its demand surpass its supply. Till then you can roam somewhere else.

You are correct in saying this. But the real profit comes when you buy a coin when its down and everyone is running away from that coin. You buy that one and HODL and sell when it takes a big jump.
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Topic
Board Tokens (Altcoins)
Re: [ANN] [CATA]Flow | NFT | Middleware | Decentralized Cloud Storage
by
ormatr
on 20/05/2022, 18:08:25 UTC
So its a complete one stop storage solution for complete metaverse, I think they are claiming a very big thing. Metaverse is most popular term of this year and even facebook have been renamed to this. with time we will see more such solutions. so you loose share in the long run.
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Topic
Board Speculation (Altcoins)
Re: BOOM - First Self-Burning Cryptocurrency Based on Smart Contract
by
ormatr
on 12/05/2022, 18:39:20 UTC
Itv very much clear that Bullish bubble of crypto market has been brusted badly and now all coins are going down. In such circumstances its very hard for a coin like BOOM to go up, remember BOOM has been down and out for almost a year now. Its very hard to say this coin may go up.