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Showing 20 of 26 results by shawnhcorey
How does electrum work to find other electrum sellers/buyers?
Electrum is a wallet. It stores the private keys to your accounts. It works (for now) with Bitcoin.
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Is that part of the system decentralised, or is that part of the system centralised?
Electrum is stored on your device but relies on servers for transactions information. Some wallets store the entire blockchain but electrum does not. Wallets that do not store the blockchain locally are called lightweight wallets. Lightweight wallets have to query their servers each time they are run.
you don't need the tech capacity to do it offline you just need to do a copy(backup) of your wallet data and put it in a usb , that's it, then only plug it in a secure environment
i would not recommend using any online wallet, minus maybe coinbase
i would not recommend using any online wallet, minus maybe coinbase
Sorry but that would leave your private passwords online where malware might steal them.
what you mean? coinbase have insurance against thief, so even if they are hacked they will cover all your funds, not like other excahnge that they will try to bring up any excuse to justify the hacking
Insured against outside theft. You will find that insurance companies do not cover embezzlement, which is how most theft of online wallets occur.
you don't need the tech capacity to do it offline you just need to do a copy(backup) of your wallet data and put it in a usb , that's it, then only plug it in a secure environment
i would not recommend using any online wallet, minus maybe coinbase
i would not recommend using any online wallet, minus maybe coinbase
Sorry but that would leave your private passwords online where malware might steal them.
The most secure way to "store" Bitcoins is a cold-storage wallet. Electrum is one such wallet. This requires another machine that never is connected to the internet. Once set up, transactions are done by loading them on a USB stick, transferring it to the offline machine, signing them, and transferring them back via the USB stick. The private keys to the accounts are never exposed to the internet.
There is no blockchain, what about a block explorer like "normal" coins? 
The blockchain is replaced with a blockDAG. You would have to find an explorer for DAGs.
Whoa people. There are no coins in Bitcoin, just numbers. A "tainted" coin means one of the accounts in your transaction DAG was of questionable legality. Given time, every account will become "tainted". The only interesting question is: What happens if a court orders a "tainted" transaction rolled back?
What court do you think would have the authority to even speak about currency that doesn't belong to any country ? And even if it did, or try to do,
i hope you understand that noone can "order" rollback of transaction on a decentralized network.
One day, if nodes become heavily centralized, this could be possible i guess, altho i hope it won't happen.
Any court.
I understand. Judges, on the other hand, still seem to be living in the 20th century.
You all seem to overlook the fact that judges are not good at taking "no" for an answer. As I said, it will get interesting.
Whoa people. There are no coins in Bitcoin, just numbers. A "tainted" coin means one of the accounts in your transaction DAG was of questionable legality. Given time, every account will become "tainted". The only interesting question is: What happens if a court orders a "tainted" transaction rolled back?
What court do you think would have the authority to even speak about currency that doesn't belong to any country ? And even if it did, or try to do,
i hope you understand that noone can "order" rollback of transaction on a decentralized network.
One day, if nodes become heavily centralized, this could be possible i guess, altho i hope it won't happen.
Any court.
I understand. Judges, on the other hand, still seem to be living in the 20th century.
The new talk on facebook groups, was to use the etherfaucet and exchange it to BTC in Ccex, some people are earning 600k satoshis per day.
600 K satoshis = 6 mBTC = 0.006 BTC. At today's rates, about $2.40 USD per day.
Check out the whitepaper - I think it is linked in the OP.
The whitepaper is full of assumptions. Is there an overview to orientate people?
There is no book or guide which will make you a millionaire.
Sure there is:
It is easier to get 1,000,000 people to give you $1 than it is to get 1 person to give you $1,000,000.
he will expect it to be carried out without question.
Court cant order someone to do the impossible thing. Even if the court ordered experts to do that, still it is not possible to be carried out unless you control it but it cant be controlled.Tainted or not, it doesnt matter at all as it is still the same coins that could be used to make some payment or even to be exchanged
Except that it is not impossible, just very, very difficult.
And again, you're talking like coins are real. If there is an account with 99 coins and someone sends a "tainted" coin to it, it the account and every coin spent from then on tainted? Or it is 1% tainted? Are all spent coins from then on 1%? Or just the first coin? Or perhaps the last?
If I have a tainted account and I send 100,000 satochis to 100,000 other accounts, are they all tainted? (In today's market, that's about 0.40 USD.)
The specific coins are the tainted coins as far as I know. Otherwise people could taint every coin in existance, basically making the tainting useless.
Bingo.
BTW, there are no coins, just numbers.
he will expect it to be carried out without question.
Court cant order someone to do the impossible thing. Even if the court ordered experts to do that, still it is not possible to be carried out unless you control it but it cant be controlled.Tainted or not, it doesnt matter at all as it is still the same coins that could be used to make some payment or even to be exchanged
Except that it is not impossible, just very, very difficult.
And again, you're talking like coins are real. If there is an account with 99 coins and someone sends a "tainted" coin to it, it the account and every coin spent from then on tainted? Or it is 1% tainted? Are all spent coins from then on 1%? Or just the first coin? Or perhaps the last?
If I have a tainted account and I send 100,000 satochis to 100,000 other accounts, are they all tainted? (In today's market, that's about 0.40 USD.)
Evil Evil Core. How dare they develop Bitcoin for 7 years now, without a banker's permission.
Haha, gotta love conspiracy stuff ;-)For me the key takeaway (from this blog at least) is - communication is key and instead brainlessly screaming for bigger blocks and feeding the trolls / media / banks, core and the community should focus on making clear that THERE IS DISCUSSION AND CHANGES WILL HAPPEN.
I would really hate to see a bank tv spot advertising their advanced, more effective and secure proprietary blockchain. What we currently see is exactly the same discussion (and finger pointing) almost every major open source project went through before.
Proprietary blockchain is an oxymoron. A blockchain is distributed or it's not a blockchain.
The question is: When will Bitcoin increase its block size? In the original proposal for Bitcoin, Satoshi Nakamoto did mention that the block size should increase but he did not suggest a timetable. This has divide the community into two camps. Those who think Bitcoin is a monopoly and its users can be squeezed for higher transactions fees. And those who think Bitcoin should keep its popularity. In the long run, it won't matter since Bitcoin has planned obsolescence and will lose it popularity no matter what.
... A "tainted" coin means one of the accounts in your transaction DAG was of questionable legality....
No, it doesn't mean that at all.
There are no coins. All Bitcoin is is a set of accounts and a series of transactions. You cannot taint something that does not exist.
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... The only interesting question is: What happens if a court orders a "tainted" transaction rolled back?
The answer to your interesting question is that nothing happens. You can't roll back a transaction without controlling the block chain.
You're assuming that the courts understand cryptos. They don't. Not until there's an expert witness testifies as to what they are. If a judge orders a rollback, he will expect it to be carried out without question.
Whoa people. There are no coins in Bitcoin, just numbers. A "tainted" coin means one of the accounts in your transaction DAG was of questionable legality. Given time, every account will become "tainted". The only interesting question is: What happens if a court orders a "tainted" transaction rolled back?
Re: [2016-01-21]Deutsche Bank: Cash will be Eliminated in 10 Years
Banks want to control cryptos just like they control fiat currencies. They think if they use words like "blockchain" and "cryptocurrency" in their advertising, that the public will fall for their hype. Never have anything to do with non-public cryptos.
No bitcoin can not make banks disappear. Banks are not dependent on bitcoin, no matter how successful bitcoin might get in the future.
Bitcoin? No. But if a gov't decides that its currency will be a crypto, then the banks will not longer be necessary. The ones that survive will be those that shrink back down to a honest loans company.
No, I don't think Bitcoin will make Banks disappear but it will create a separate space for itself. Too many world's finance operations are dependent on banks and therefore both of them will continue to co reside.
Banks don't need to fight against bitcoin. Since they can co-exist.
However bitcoin is taking away overhead of banks, and i can promise you they will try to make bitcoin dissapear.
It's their evil nature.
Bitcoins cannot be easily counterfeited. That will shut down the main revenue of banks. Of course, they'll fight it.
Re: Is it really that bad with Bitcoin as Mike Hearn writes now?
but we are facing the crash of bitcoin price. isn't that a form of crashing?
that is a nogo to the bitcoin.
that is a nogo to the bitcoin.
Don't forget that the markets are also down today.
Bitcoin is dying. Well, it's been dying from the start but now it's dying a little faster. The split in the maintainers is between those who believe in supply-side economics and those who believe in demand-side ones. At the moment, the supply-side supporters appear to be on top. That means Bitcoin is dying a little faster. But it's going to limp along for a while yet, so it's still worth using.