Electrum Wallet: Die Einzelwährungs-Kryptowallet ...

Bitcoin Private

A subreddit to discuss Bitcoin Private. Like Bitcoin, but Private.
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CryptoSobStories - You could be a millionaire by now

You bought a Pizza for 10,000 BTC? You lost big in a collapsed exchange? You sold a shitcoin with loss to see how it exploded the next day? You missed 1000+1 occasions? You sold your retirement money for the biggest cryptoscam in history? You are not alone! Share your story and find relief from your fellow cryptosobbers! Found stories are also fine.
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Litecoin

For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.
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I was created a electrum litecoin wallet by using https://electrum-ltc.org/ it is created successfully, but it creates bitcoin address not creating litecoin address

submitted by sekharrajana to u/sekharrajana [link] [comments]

Can someone tell me about Bitcoin addresses. I have one on Coinbase. Ledger want it so they can do Affiliate payouts. Still learning. What can people gather, learn, do with my Bitcoin Coinbase Receive Address?

It’s a massive long chain of letters and numbers and also it’s a QR code.
Is this ONLY for receiving?
Or can people scan my balance too with this? I am assuming money can never be taken from me with this of course.
Thank you!
submitted by Reddit_of_Dan to Bitcoin [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Everyday info sec, hardcore info sec, and DNMs

Edit: Currently writing a new version of this, dont know when it will be done.
Edit: Since first post I have updated a few sections with additional information.
I recommend reading it all even if it is very long, I might have placed some relevant info in different sections while thinking about what else needed to be added, plenty of steps remains mostly the same except when I comment directly on it. It is not necessary to do 100% security all the time, unless you absolutely need it, combining some high and some lower security ideas for a balance of security and convenience is useful.
I will base this mostly on Windows, Linux users probably know this, and I have no idea how apple machines work (tho many things in here are still relevant for other operating systems, as they are just general tips)
Disclaimer: There are certainly other steps that can make you more anonymous or safer, however I think for most people this will surfice. Any software I recommend should be independently verified for security, and examples of software are not to be taken as endorsements. I simply use examples and give recommendations when I believe it necessary, or helpful.
I will not really differentiate between anonymity and security, they are often the same thing. As such the word security can mean either more anonymous, less vulnerable, or both.
--------
Everyday Simple Info Sec:
-There could be a hidden administrator user on your PC, make sure to change its password
(Snapchat msgs, reddit dms, discord msgs, are just a few examples of msgs that are never encrypted)
-Any info even send in encrypted msgs (and obviously non encrypted) should still be kept with possible deniability, don't say "I'm gonna do MDMA", say "I'm going out with molly."
-DO NOT STORE ANY PASSWORDS ON GOOGLE, IF GOOGLE LOGIN IS AUTHENTICATED IT WILL AUTFILL ALL PASSWORDS IT HAS SAVED (same with other similar services) (This means if you are logged in to chrome and someone has access to your machine, they can auto fill passwords without entering a single password)
-use a rememberable passphrase, especially for your master key ring aka password manager A long sentence that is memorable makes an okay password (decent example,: "I met my wife at Little Ceasers for the first time on 07/09/20" better even if it's just something you know, if its impersonal, and if you can add special characters or numbers that you won't forget) (A better example for a passphrase is: "There is 0nly 0ne letter that d0esn’t appear in any U.S. state nameQ")
-Purge your internet activity frequently, there's a reason why I only have one post, and a few comments appearing in my account, but thousands of kama. Exposing information needlessly is not good.
-Never post private information publicly, and if you do, do it vaguely as possible. (Example: Not "I'm 15", say "I'm a teenager") Do not post any vital information ever, no birthdays, mother's maiden name, age, or anything you have ever seen in a security question. Never post your current activities while they are ongoing. You going on a vacation? Don't announce it to the world, taking picture there? Post them when you are home.
-Rethink how you do security questions. Many answers to security questions can be found in your internet history. One could use the first word of the security question as an answer, or a different sceme that will mean you always remember it. (Security question need to go, the amount of personal info an average person puts on the internet makes it easy to attack anything using security question)
-------_
High level crimimal information security:
The motto here is, "All the Security, All the Time" As one fuck up can end with you leaving a lick of traceability, and you could be fucked.
Pre Note: All of your software should always be up to date. Also even perfect info sec does not guarantee you are completely safe, a new zero day (exploit) can still fuck you, but good info security makes you significantly safer, by eliminating as many attacks as possible.
-Get a new device (or make a already owned device seem like you never owned it, do this only if you know how to, there's a lot of stuff that goes into that, like changing your mac adress etc) buy with cash, and your face covered, preferably far away from where you live. (Do I need to specify to not bring your phone or anything else that tracks your location to anywhere you want to go anonymously?) (Be aware that even hardware can have vulnerabilities, many cpus have known vulnerabilities, I can't list them all, do some research before buying)
-If you know how to use Tails (A linux distro designed for Info sec) use that, preferably on a USB. (Or learn how to use tails, its better, but complicated) Otherwise a clean copy of windows (make sure its not in any way associated with you) can do the job too, tho not as well. (Using a VM might give extra security, since VMs usually erase all data and RAM they were using on shutdown)
-Get a non tracking VPN, Enable the kill switch (a setting that disables all traffic that doesn't go through the VPN) (change your firewall settings to only allow the traffic from the VPN, windows guide (Change settings so only traffic from the tor application is send) Edit: (Due to complaints: do not use vpn over tor, use tor over vpn. tor over vpn has no notable downside, if the VPN logs it makes no difference, your ISP will always log anyways, and vpns remove other attack vectors and also provide backup security should tor fail. Again even if the VPN tracks you only change the people doing the tracking, but now you are further removed making it more anonymous and also with less vulnerabilities)
-rember privacy settings, cookie cleaner, and antivirus, password (There could be a hidden administrator user on your PC, make sure to change its password)
-Always use the device on a non admin account
-Ideally use this device only on networks that are not connected with you. Such as public networks (try to never use the same public networks twice, move around) (a home network should be fine now, as it should never be exposed, but more security is always better) (Its just a conveniences vs security trade)
-Never use accounts that have been exposed to lower security on higher security machines
-your browser is now TOR (or your preferred security focused browser, if you dont plan on using onion ) Make sure you get the standalone version of tor not the addon build (the standalone is safer, because there are less settings and options to tweak)
-Change your tor settings, to safest mode, enable a bridge (to my knowledge there's no difference in security between the build in bridges in tor), enable automatic updates, set duckduckgo onion as your primary browser. Set dark.fail onion page as your home page. (Or your preferred privacy search engine and onion directory)
-------_
How to use dark net markets (DNMs)
If you finished your High Security setup, we can dive right in. Otherwise go do that. This is where all that is essential.
Quick info on Tor, and onion sites. There is no search engine. It's all based of directories and addresses you are given by others. Tor will likely not be very quick, it has to pass through multiple networks to get to the destination. DNMs sometimes exit scam, an exit scam is when a market shuts down completely and takes all the money, this is a risk when using DNMs, it's not too common but happens maybe 0-4 times a year. The admins of thoese servers need to get out at some point, before they get jailed, so they exit the game, and scam everyone out of their money.
-A very useful onion directory is dark.fail it has a lot of links, for all kinds of stuff. News, email, DNMs, Psychonautwiki (harm reduction website), forums etc. (Other directories also exist)
-Pick a market, preferably one that handles secure connection server side instead of requiring you to establish the secure connection. Then create an account. Your account once created should include an entry box in your profile for a pgp key, post your PUBLIC key in there. (Verify the link is not a scam, most markets should provide a pgp signature)
-Next is currency setup. All major cryptocurrency exchangers can be used, I can recommend coin base but there could be better ones out there. Unless you find a small non U.S., exchange, they will always ask for your identity. So unless you can find a trustworthy exchange that doesn't ID, you will need to give it to them. (Side note, all major crypto exchangers report to the IRS, if the IRS asks you if you bought cryptocurrency and you bought while having IDed yourself SAY YES, DO NOT COMMIT TAX FRAUD WHEN THEY KNOW YOU DID)
-Transfer (monero you can send directly, btc you should scramble) to your wallet. There are two options a cold wallet (physical) or a software wallet. Software wallets usually dont cost anything so I recommend them, even if often less safe. Electrum is easy to use, and pretty safe. You can also do your own research and find a wallet that fits your needs.
-now you are ready to buy, only buy using escrow (it means the money is held by the market as a middle man until the product is delivered, they will also handle any issues like wrong quantity, cuts, etc), judge the reviews for a product, and if available look at the history of the vendor, until you find a product from a vendor you trust. (I recommend to buy within your country as much as possible, so it doesn't go through customs, it's very rare that something is found, but it can happen)
-now you get to buy, depending on market, you either have cryptocurrency stored in their wallets (not recommend, you will lose it in an exit scam) or you can send it every order. When you send your delivery adress (or the one you want it to go to) encrypt the adress using the sellers public key. Make sure the adress is correct.
-wait for the product, make sure to extend the escrow until the product arrives, if you can't extend it anymore dispute the order, and a moderator will step in
-test the product, use it, and leave a review. PLEASE LEAVE A REVIEW, DNMs only work because of reviews.
Edit: Didn't imagine I would write over 15000 words. Oh well, it was fun. Hope it helps, if you have any questions feel free to ask.
No idea how long this will stay up, I might purge it in 7 days, or never.
submitted by seven_N_A7 to u/seven_N_A7 [link] [comments]

Was I phished.. Or? After downloading newest Electrum from official site.. help please!

Hello!
Earlier today, before purchasing BTC online, I updated my electrum by downloading the newest version (4.0.3) from the official site (electrum.org - which was also the first result on Bing).
When I clicked the "copy to clipboard" button for my receiving address, I noticed the address copied to my clipboard was different than the one displayed. I tried this a few different times with several different addresses with the same result. I figured that perhaps the address being displayed (not the one that was being copied to my clipboard) was perhaps just a bug or some sort of error, and that the address being copied to my clipboard HAD to be my address since it was coming from my wallet. But maybe I was wrong..
I proceeded to withdrawal the bitcoin from the site I purchased from, having the coin sent to the address that was being copied to my clipboard. Except this time, I didn't notice any coins being sent to my electrum wallet.
I opened Electrum and under the addresses tab, searched for the address that was being copied to my clipboard via the "copy to clipboard" button I used under receiving addresses as previously mentioned, however there was no sign of the address in the addresses tab. And each time I would click the "copy to clipboard" button for receiving addresses, it would give me another address that was not listed under my addresses tab.
This happened hours ago and I'm not sure what to do at this point. I'm not sure if I've somehow been phished, even using the official website, or if there's something I'm missing/overlooked. Whatever the case, I cant afford to lose the amount of money lost.
If anyone could please help shed some light on the situation, I would very much appreciate any insight you may have to offer. I'm at a complete loss at this point. Is there anything I can do? Am I missing something here? Or... am I totally screwed? Thank you for your time.
submitted by Abyssed77 to Electrum [link] [comments]

Can someone explain how to do bitcoin like I am five?

So, once I purchase it then what? How do I keep it safe? I got a lot of great answers which wallets are secure, but it left me even more confused. I am not tech savvy at all. Thanks
submitted by K_J_W to Bitcoin [link] [comments]

Cannot create wallet with Trezor

Hi guys, I am stuck trying to create a wallet for my Trezor with Electrum 4.0.4 on Linux:
I get to the point of entering the password twice and then selecting the path. But after that it just says
'Please wait' and then the window hangs. The only way to do something is either kill the process or send a `SIGINT` signal.
Interestingly after sending a SIGINT the window unfreezes and asks me again for the password (also during the whole freeze the Trezor device writes that I should enter my password). After entering the password again I get an empty error window and on closing it everything closes.
I started electrum with `electrum -v` to get some logs:
$ electrum -v I | logging | Electrum version: 4.0.4 - https://electrum.org - https://github.com/spesmilo/electrum I | logging | Python version: 3.8.6 (default, Sep 30 2020, 04:00:38) [GCC 10.2.0]. On platform: Linux-5.8.14-arch1-1-x86_64-with-glibc2.2.5 I | logging | Logging to file: None I | logging | Log filters: verbosity '*', verbosity_shortcuts '' I/p | plugin.Plugins | registering hardware bitbox02: ('hardware', 'bitbox02', 'BitBox02') I/p | plugin.Plugins | registering hardware coldcard: ('hardware', 'coldcard', 'Coldcard Wallet') I/p | plugin.Plugins | registering hardware digitalbitbox: ('hardware', 'digitalbitbox', 'Digital Bitbox wallet') I/p | plugin.Plugins | registering hardware keepkey: ('hardware', 'keepkey', 'KeepKey wallet') I/p | plugin.Plugins | registering hardware ledger: ('hardware', 'ledger', 'Ledger wallet') I/p | plugin.Plugins | registering hardware safe_t: ('hardware', 'safe_t', 'Safe-T mini wallet') I/p | plugin.Plugins | registering hardware trezor: ('hardware', 'trezor', 'Trezor wallet') I/p | plugin.Plugins | registering wallet type ('2fa', 'trustedcoin') D | util.profiler | Plugins.__init__ 0.0044 I/n | network | blockchains [0] I | exchange_rate.FxThread | using exchange CoinGecko D | util.profiler | Daemon.__init__ 0.0023 I/n | network | starting network I | daemon.Daemon | launching GUI: qt I/n | network | setting proxy None I | daemon.Daemon | starting taskgroup. I/n | network | connecting to electrumx.ftp.sh:50002:s as new interface I/n | network | starting taskgroup. I | gui.qt.history_list | could not import electrum.plot. This feature needs matplotlib to be installed. I | gui.qt.ElectrumGui | Qt GUI starting up... Qt=5.15.1, PyQt=5.15.1 I/i | interface.[localhost:50002] | connection established. version: ['ElectrumPersonalServer 0.2.0', '1.4'] D | util.profiler | ElectrumGui.__init__ 0.1374 I/i | interface.[vmd27610.contaboserver.net:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface vmd27610.contaboserver.net:50002:s -- CancelledError() I/i | interface.[electrumx.ftp.sh:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface electrumx.ftp.sh:50002:s -- CancelledError() I/i | interface.[rbx.curalle.ovh:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/i | interface.[2AZZARITA.hopto.org:50006] | connection established. version: ['ElectrumX 1.15.0', '1.4'] I/n | network | couldn't launch iface rbx.curalle.ovh:50002:s -- CancelledError() I/i | interface.[2AZZARITA.hopto.org:50006] | set blockchain with height 653567 I/i | interface.[2AZZARITA.hopto.org:50006] | skipping header 653566 I/n | network | no height for main interface I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50750} I/i | interface.[hsmiths4fyqlw5xw.onion:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface hsmiths4fyqlw5xw.onion:50002:s -- CancelledError() I/n | network | switching to 2AZZARITA.hopto.org:50006:s I/i | interface.[electrum3.hodlister.co:50002] | connection established. version: ['ElectrumX 1.10.0', '1.4'] I/n | network | fee_histogram [[99, 100899], [71, 112316], [61, 132563], [59, 156116], [57, 175394], [54, 114050], [51, 219092], [49, 195934], [48, 565137], [47, 781451], [46, 883591], [45, 259824], [44, 450143], [43, 114488], [42, 22100], [41, 49428], [40, 106542], [38, 151315], [33, 547095], [22, 620244], [13, 648588], [9, 822409], [5, 741398], [3, 1799486], [2, 651429]] I/n | network | fee_histogram [[99, 100899], [71, 112316], [61, 132563], [59, 156116], [57, 175394], [54, 114050], [51, 219092], [49, 195934], [48, 565137], [47, 781451], [46, 883591], [45, 259824], [44, 450143], [43, 114488], [42, 22100], [41, 49428], [40, 106542], [38, 151315], [33, 547095], [22, 620244], [13, 648588], [9, 822409], [5, 741398], [3, 1799486], [2, 651429]] I/i | interface.[bitcoin.corgi.party:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-5, 'No address associated with hostname'))) I/n | network | couldn't launch iface bitcoin.corgi.party:50002:s -- CancelledError() I/i | interface.[electrumx-core.1209k.com:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(OSError(101, 'Network is unreachable'))) I/n | network | couldn't launch iface electrumx-core.1209k.com:50002:s -- CancelledError() I/i | interface.[electrum3.hodlister.co:50002] | set blockchain with height 653567 I/i | interface.[electrum3.hodlister.co:50002] | skipping header 653567 I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50749} I/i | interface.[hsmiths5mjk6uijs.onion:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface hsmiths5mjk6uijs.onion:50002:s -- CancelledError() I/i | interface.[dxm.no-ip.biz:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(ConnectionRefusedError(111, "Connect call failed ('77.6.34.45', 50002)"))) I/n | network | couldn't launch iface dxm.no-ip.biz:50002:s -- CancelledError() I/i | interface.[electrum2.eff.ro:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface electrum2.eff.ro:50002:s -- CancelledError() I/i | interface.[electrum.hsmiths.com:50002] | disconnecting due to: ConnectError(ConnectionResetError(104, 'Connection reset by peer')) I/n | network | couldn't launch iface electrum.hsmiths.com:50002:s -- CancelledError() I | storage.WalletStorage | wallet path /home/bene/.electrum/wallets/default_wallet I/i | interface.[bitcoin.aranguren.org:50002] | connection established. version: ['ElectrumX 1.15.0', '1.4'] I | storage.WalletStorage | wallet path /home/bene/.electrum/wallets/default_wallet I/i | interface.[bitcoin.aranguren.org:50002] | set blockchain with height 653567 I/i | interface.[bitcoin.aranguren.org:50002] | skipping header 653566 [240/1884] I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50749} I/i | interface.[localhost:50002] | set blockchain with height 653567 I/i | interface.[localhost:50002] | skipping header 653567 I/n | network | fee_estimates {25: 46526, 10: 48175, 5: 50745, 2: 50749} I/p | plugin.Plugins | loaded bitbox02 I/p | plugin.Plugins | loaded coldcard I/p | plugin.Plugins | loaded digitalbitbox I/p | plugin.Plugins | loaded keepkey I/p | plugin.Plugins | loaded ledger I/p | plugin.Plugins | loaded safe_t I/p | plugin.Plugins | loaded trezor I | plugin.DeviceMgr | scanning devices... D | util.profiler | DeviceMgr.scan_devices 0.0244 W | gui.qt.installwizard.InstallWizard | error getting device infos for bitbox02: Missing libraries for bitbox02. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for coldcard: Missing libraries for coldcard. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for keepkey: Missing libraries for keepkey. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for ledger: Missing libraries for ledger. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for safe_t: Missing libraries for safe_t. // Make sure you install it with python3 I | plugins.trezor.qt.Plugin | connecting to device at webusb:001:3 I | plugins.trezor.qt.Plugin | connected to device at webusb:001:3 I | plugin.DeviceMgr | Registering My TREZOF3342BDD7C90C7F9FBA58136 I | plugin.DeviceMgr | scanning devices... D | util.profiler | DeviceMgr.scan_devices 0.0388 I/i | interface.[localhost:50002] | skipping header 653567 qt.qpa.xcb: QXcbConnection: XCB error: 3 (BadWindow), sequence: 4028, resource id: 14687032, major code: 40 (TranslateCoords), minor code: 0 I | plugin.DeviceMgr | scanning devices... D | util.profiler | DeviceMgr.scan_devices 0.0407 
This is the point where the window freezes. Then I precc `Ctrl+C` to send a SIGINT signal and then this is the rest of the logs:
I/n | network | couldn't launch iface technetium.network:50002:s -- TimeoutError() I/n | network | couldn't launch iface e2.keff.org:50002:s -- TimeoutError() I/n | network | couldn't launch iface electrum-server.ninja:50002:s -- TimeoutError() I/n | network | couldn't launch iface xray587.startdedicated.de:50002:s -- TimeoutError() I/n | network | couldn't launch iface electrum.mindspot.org:50002:s -- TimeoutError() I/i | interface.[electrum.leblancnet.us:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface electrum.leblancnet.us:50002:s -- CancelledError() I/i | interface.[ex01.axalgo.com:50002] | succeeded in getting cert I/i | interface.[electrumx.schulzemic.net:50002] | succeeded in getting cert ^CE | gui.qt.installwizard.InstallWizard | Traceback (most recent call last): File "/uslib/python3.8/site-packages/electrum/base_wizard.py", line 446, in on_hw_derivation xpub = self.plugin.get_xpub(device_info.device.id_, derivation, xtype, self) File "/uslib/python3.8/site-packages/electrum/plugins/trezotrezor.py", line 315, in get_xpub xpub = client.get_xpub(derivation, xtype) File "/uslib/python3.8/site-packages/electrum/plugin.py", line 362, in wrapper return run_in_hwd_thread(partial(func, *args, **kwargs)) File "/uslib/python3.8/site-packages/electrum/plugin.py", line 355, in run_in_hwd_thread return fut.result() File "/uslib/python3.8/concurrent/futures/_base.py", line 434, in result self._condition.wait(timeout) File "/uslib/python3.8/threading.py", line 302, in wait waiter.acquire() KeyboardInterrupt I/i | interface.[ex01.axalgo.com:50002] | connection established. version: ['ElectrumX 1.14.0', '1.4'] I/i | interface.[electrumx.schulzemic.net:50002] | connection established. version: ['ElectrumX 1.15.0', '1.4'] I/i | interface.[ex01.axalgo.com:50002] | set blockchain with height 653567 I/i | interface.[ex01.axalgo.com:50002] | skipping header 653567 I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50749} I/i | interface.[electrumx.schulzemic.net:50002] | set blockchain with height 653567 I/i | interface.[electrumx.schulzemic.net:50002] | skipping header 653567 I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50749} I/n | network | couldn't launch iface dragon085.startdedicated.de:50002:s -- TimeoutError() I/i | interface.[btc.electroncash.dk:60002] | succeeded in getting cert I/i | interface.[mxhwmwa3nt2si4ufszm24whlpkruu74jle27ys2fyjuiifbbrub6thyd.onion:50006] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-2, 'Name or service not known'))) I/n | network | couldn't launch iface mxhwmwa3nt2si4ufszm24whlpkruu74jle27ys2fyjuiifbbrub6thyd.onion:50006:s -- CancelledError() I/i | interface.[electrum2.villocq.com:50002] | disconnecting due to: ErrorGettingSSLCertFromServer(ConnectError(gaierror(-5, 'No address associated with hostname'))) I/n | network | couldn't launch iface electrum2.villocq.com:50002:s -- CancelledError() I/i | interface.[btc.electroncash.dk:60002] | connection established. version: ['ElectrumX 1.15.0', '1.4'] I/i | interface.[btc.electroncash.dk:60002] | set blockchain with height 653567 I/i | interface.[btc.electroncash.dk:60002] | skipping header 653567 I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50749} I/i | interface.[btc.electrum.bitbitnet.net:50002] | connection established. version: ['ElectrumX 1.15.0', '1.4'] I/i | interface.[btc.electrum.bitbitnet.net:50002] | set blockchain with height 653567 [169/1884] I/i | interface.[btc.electrum.bitbitnet.net:50002] | skipping header 653567 I/n | network | fee_estimates {25: 46526, 10: 48176, 5: 50745, 2: 50749} I | plugin.DeviceMgr | scanning devices... D | util.profiler | DeviceMgr.scan_devices 0.0394 W | gui.qt.installwizard.InstallWizard | error getting device infos for bitbox02: Missing libraries for bitbox02. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for coldcard: Missing libraries for coldcard. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for keepkey: Missing libraries for keepkey. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for ledger: Missing libraries for ledger. // Make sure you install it with python3 W | gui.qt.installwizard.InstallWizard | error getting device infos for safe_t: Missing libraries for safe_t. // Make sure you install it with python3 I/i | interface.[bitcoin.aranguren.org:50002] | skipping header 653567 E | daemon.Daemon | GUI raised exception: ReRunDialog(). shutting down. I | gui.qt.ElectrumGui | closing GUI I | daemon.Daemon | shutting down network I/n | network | stopping network I/n | network | couldn't launch iface electrum.hodlister.co:50002:s -- CancelledError() I/n | network | couldn't launch iface orannis.com:50002:s -- CancelledError() I/i | interface.[localhost:50002] | disconnecting due to: CancelledError() I/i | interface.[electrumx.schulzemic.net:50002] | disconnecting due to: CancelledError() I/i | interface.[ex01.axalgo.com:50002] | disconnecting due to: CancelledError() I/i | interface.[2AZZARITA.hopto.org:50006] | disconnecting due to: CancelledError() I/i | interface.[btc.electroncash.dk:60002] | disconnecting due to: CancelledError() I/i | interface.[electrum3.hodlister.co:50002] | disconnecting due to: CancelledError() I/i | interface.[btc.electrum.bitbitnet.net:50002] | disconnecting due to: CancelledError() I/i | interface.[bitcoin.aranguren.org:50002] | disconnecting due to: CancelledError() I/n | network | taskgroup stopped. I | daemon.Daemon | stopping taskgroup I | daemon.Daemon | taskgroup stopped. I | daemon.Daemon | removing lockfile I | daemon.Daemon | stopped E | __main__ | daemon.run_gui errored Traceback (most recent call last): File "/uslib/python3.8/site-packages/electrum/gui/qt/installwizard.py", line 118, in func_wrapper run_next(*out) File "/uslib/python3.8/site-packages/electrum/base_wizard.py", line 193, in on_wallet_type self.run(action) File "/uslib/python3.8/site-packages/electrum/base_wizard.py", line 115, in run f(*args, **kwargs) File "/uslib/python3.8/site-packages/electrum/base_wizard.py", line 225, in choose_keystore self.choice_dialog(title=title, message=message, choices=choices, run_next=self.run) File "/uslib/python3.8/site-packages/electrum/gui/qt/installwizard.py", line 106, in func_wrapper out = func(*args, **kwargs) File "/uslib/python3.8/site-packages/electrum/gui/qt/installwizard.py", line 594, in choice_dialog self.exec_layout(vbox, title) File "/uslib/python3.8/site-packages/electrum/gui/qt/installwizard.py", line 429, in exec_layout raise GoBack from None electrum.base_wizard.GoBack The above exception was the direct cause of the following exception: Traceback (most recent call last): File "/usbin/electrum", line 380, in  d.run_gui(config, plugins) File "/uslib/python3.8/site-packages/electrum/daemon.py", line 566, in run_gui self.gui_object.main() File "/uslib/python3.8/site-packages/electrum/gui/qt/__init__.py", line 363, in main if not self.start_new_window(path, self.config.get('url'), app_is_starting=True): File "/uslib/python3.8/site-packages/electrum/gui/qt/__init__.py", line 247, in wrapper return func(self, *args, **kwargs) File "/uslib/python3.8/site-packages/electrum/gui/qt/__init__.py", line 271, in start_new_window wallet = self._start_wizard_to_select_or_create_wallet(path) File "/uslib/python3.8/site-packages/electrum/gui/qt/__init__.py", line 313, in _start_wizard_to_select_or_create_wallet wizard.run('new') File "/uslib/python3.8/site-packages/electrum/base_wizard.py", line 115, in run f(*args, **kwargs) File "/uslib/python3.8/site-packages/electrum/base_wizard.py", line 153, in new self.choice_dialog(title=title, message=message, choices=choices, run_next=self.on_wallet_type) File "/uslib/python3.8/site-packages/electrum/gui/qt/installwizard.py", line 131, in func_wrapper raise ReRunDialog() from e electrum.base_wizard.ReRunDialog I/p | plugin.Plugins | stopped 
submitted by bIacktemplar to Electrum [link] [comments]

"My transaction is stuck, what to do?" - an explainer [DRAFT]

In the last days we have been experiencing a sharp rise in price, which is historically correlated with many people transacting over the Bitcoin network. Many people transacting over the Bitcoin network implies that the blockspace is in popular demand, meaning that when you send a transaction, it has to compete with other transactions for the inclusion in one of the blocks in the future. Miners are motivated by profits and transactions that pay more than other transactions are preferred when mining a new block. Although the network is working as intended (blockspace is a scarce good, subject to supply/demand dynamics, regulated purely by fees), people who are unfamiliar with it might feel worried that their transaction is “stuck” or otherwise somehow lost or “in limbo”. This post attempts to explain how the mempool works, how to optimize fees and that one does not need to worry about their funds.

TL;DR: Your funds are safe. Just be patient* and it'll be confirmed at some point. A transaction either will be confirmed or it never leaves your wallet, so there is nothing to worry about in regards to the safety of your coins.

You can see how the mempool "ebbs and flows", and lower fee tx's get confirmed in the "ebb" times (weekends, nights): https://jochen-hoenicke.de/queue/#0,30d
* if you are in hurry there are things like RBF (Replace By Fee) and CPFC (Child Pays For Parent), which you can use to boost your transaction fees; you will need an advanced wallet like Bitcoin Core or Electrum for that though. Keep also in mind that this is not possible with any transaction (RBF requires opt in before sending, f.ex). If nothing else works and your transaction really needs a soon confirmation, you can try and contact a mining pool to ask them if they would include your transaction. Some mining pools even offer a web-interface for this: 1, 2.
Here’s how Andreas Antonopoulos describes it:
In bitcoin there is no "in transit". Transactions are atomic meaning they either happen all at once or don't happen at all. There is no situation where they "leave" one wallet and are not simultaneously and instantaneously in the destination address. Either the transaction happened or it didn't. The only time you can't see the funds is if your wallet is hiding them because it is tracking a pending transaction and doesn't want you to try and spend funds that are already being spent in another transaction. It doesn't mean the money is in limbo, it's just your wallet waiting to see the outcome. If that is the case, you just wait. Eventually the transaction will either happen or will be deleted by the network.
tl;dr: your funds are safe

How is the speed of confirmations determined in bitcoin?

Open this site: https://jochen-hoenicke.de/queue/#0,2w
Here you see how many transactions are currently (and were historically) waiting to be confirmed, i.e how many transactions are currently competing with your transaction for blockspace (=confirmation).
You can see two important things: the differently coloured layers, each layer representing a different fee (higher layer = higher fees). You can point at a layer and see which fees (expressed in sat/byte) are represented in this layer. You can then deduct which layer your own transaction is currently at, and how far away from the top your position is (miners work through the mempool always from the top, simply because the tx's on top pay them more). You can estimate that each newly mined block removes roughly 1.xMB from the top (see the third graph which shows the mempool size in MB). On average, a new block is produced every ten minutes. But keep in mind that over time more transactions come into the mempool, so there can be periods where transactions are coming faster than transactions being “processed” by miners.
The second important observation is that the mempool "ebbs and flows", so even the lower paid transactions are periodically being confirmed at some point.
In short: what determines the speed of a confirmation is A) how high you set the fees (in sat/byte), B) how many other transactions with same or higher fees are currently competing with yours and C) how many transactions with higher paid fees will be broadcast after yours.
A) you can influence directly, B) you can observe in real time, but C) is difficult to predict. So it's always a little tricky to tell when the first confirmation happens if you set your fees low. But it's quite certain that at some point even the cheap transactions will come through.

So what happens if my transaction stays unconfirmed for days or even weeks?

Transactions are being broadcast by the full nodes on the network. Each node can adjust their settings for how long they keep unconfirmed transactions in their mempool. That’s why there is not a fixed amount of time after which a transaction is dropped from the mempool, but most nodes drop unconfirmed tx’s after two weeks [IS THIS CORRECT?]. This means that in the absolute worst case the unconfirmed transaction will simply disappear from the network, as if it never happened. Keep in mind that in those two weeks the coins never actually leave your wallet. It’s just that your wallet doesn’t show them as “available”, but you still have options like RBF and CPFP to get your transaction confirmed with higher fees, or to “cancel” your transaction by spending the same coins onto another address with a higher fee.

Helpful tools to estimate fees for future transactions:

Here are some resources that can help you estimate fees when sending a bitcoin transaction, so you don't end up overpaying (or underpaying) unnecessarily. Keep in mind that in order to take advantage of this, you need a proper bitcoin wallet which allows for custom fee setting. A selection of such wallets you can find here or here.
The order here is roughly from advanced to easy.
1) https://jochen-hoenicke.de/queue/#0,24h
Here you can see a visualization of how many unconfirmed transactions are currently on the network, as well as how many were there in the past. Each coloured layer represents a different fee amount. F.ex the deep blue (lowest layer) are the 1sat/byte transactions, slightly brighter level above are the 2sat/byte transactions and so on.
The most interesting graph is the third one, which shows you the size of the current mempool in MB and the amount of transactions with different fee levels, which would compete with your transaction if you were to send it right now. This should help you estimating how high you need to set the fee (in sat/byte) in order to have it confirmed "soon". But this also should help you to see that even the 1sat/byte transactions get confirmed very regularly, especially on weekends and in the night periods, and that the spikes in the mempool are always temporary. For that you can switch to higher timeframes in the upper right corner, f.ex here is a 30 days view: https://jochen-hoenicke.de/queue/#0,30d. You clearly can see that the mempool is cyclical and you can set a very low fee if you are not in hurry.
2) https://mempool.space
This is also an overview of the current mempool status, although less visual than the previous one. It shows you some important stats, like the mempool size, some basic stats of the recent blocks (tx fees, size etc). Most importantly, it makes a projection of how large you need to set your fees in sat/byte if you want your transaction to be included in the next block, or within the next two/three/four blocks. You can see this projection in the left upper corner (the blocks coloured in brown).
3) https://whatthefee.io
This is a simple estimation tool. It shows you the likelihood (in %) of a particular fee size (in sat/byte) to be confirmed within a particular timeframe (measured in hours). It is very simple to use, but the disadvantage is that it shows you estimates only for the next 24 hours. You probably will overpay by this method if your transaction is less time sensitive than that.
4) https://twitter.com/CoreFeeHelper
This is a very simple bot that tweets out fees projections every hour or so. It tells you how you need to set the fees in order to be confirmed within 1hou6hours/12hours/1day/3days/1week. Very simple to use.
Hopefully one of these tools will help you save fees for your next bitcoin transaction. Or at least help you understand that even with a very low fee setting your transaction will be confirmed sooner or later. Furthermore, I hope it makes you understand how important it is to use a wallet that allows you to set your own fees.
submitted by TheGreatMuffin to u/TheGreatMuffin [link] [comments]

Storing your coins safely while not risking loss of keys

This was originally an answer to a question that was asked here, but OP deleted their post.
This might help some newbies (especially the multisig edit at the end), so I want to make sure it's still accessible here.
The original question was whether the Electrum wallet stores a Trezor's private key when using a passphrase.
OP noticed that their Trezor wouldn't connect to their Electrum wallet when entering a different passphrase than they used when creating the wallet. Thus, OP (likely) assumed that the wallet stored the private key, as it somehow knew that a different private key was now used.
Here is my original answer (with some modifications):
IMPORTANT: I'm assuming here that you connected your Trezor by choosing the "hardware wallet" option in Electrum, rather than giving Electrum your 12/24 seed words.
TL;DR: No, your coins are safe :)
I'm assuming by passphrase) you mean the 25th (or 13th) word. When you have this feature enabled, a private key gets generated every time you enter a passphrase. When you enter the same passphrase you used to create the wallet, the wallet with your funds shows up.
Whenever you enter something different, a different private key is generated on your Trezor. This allows you to have multiple different wallets, for example by choosing the passphrases "First Wallet", "Second Wallet", "Third Wallet", or a secret wallet with a secret passphrase.
So whenever you enter a new passphrase when connecting your Trezor to Electrum, the Trezor will send a new public key to Electrum. Electrum will then derive addresses from this public key and check those for balances. It won't find any, as you used a new passphrase.
EDIT: I just realized that you said your wallet doesn't connect to Electrum when you use a different passphrase. This is simply because Electrum doesn't receive the correct public key from the Trezor and therefore Electrum thinks it's a different wallet (which it is).
When you enter the passphrase you used during creation of your wallet, the Trezor will send your actual public key to Electrum, which will then find addresses with balances, which it will show to you. EDIT (to clarify): Connecting your Trezor after creating the wallet is only necessary to send funds or verify addresses, as the public key is already stored in the wallet.dat.
The only thing Electrum actually stores is the public key, which can only be used to look at your Bitcoin, not to move them. You might want to keep this public key a secret as well though, since it links all your funds to you. This is what Electrum stores in the wallet.dat file, which you can just encrypt by choosing a password for it.
Well done using a passphrase by the way! Should someone get their hands on your Trezor, a sophisticated attacker can get the secret key off the device in 15 minutes. Using a passphrase makes this attack almost useless, as the both secret key AND the passphrase are needed to move your funds, and the passphrase is not stored on the device. A passphrase also allows you to hide funds from potential robbers that force you to unlock your wallet.
You can do this by activating the passphrase feature and sending your funds to a wallet with a secret passphrase (do NOT lose this, as losing your passphrase renders your funds inaccessible). Afterwards, you can safely deactivate the passphrase feature, so the device doesn't even ask for one should you get robbed. Simply reactivate it when you need to access your funds.
EDIT: Should you be worried that you might forget your passphrase, you should look into multisig wallets. Depending on how you set this up, you can make it more secure against theft and less likely for you to lose access to your funds.
Say for example you get four wallets: two hardware wallets, a well-protected (airgapped) laptop with Electrum, and a secure mobile wallet that allows for multisig (like Fully Noded).
You can then create a 2-of-4 multisig wallet that requires you to sign transactions with any two of these four wallets.
The increase in security comes from the fact that an attacker now needs full access to two of your devices (or their stored private keys) at once.
At the same time, the fact that you yourself now also need access to only half of your devices means that in the event of a total loss of one (or even two) of them, you can still move your funds to a new wallet.
As long as you do regular checks (e.g. first day of each month), ensuring that you still have access to all your devices' stored private keys, you can always catch a loss of keys and fix this without losing funds (by creating a new multisig wallet and sending the funds there).
This allows you to use a passphrase on your wallets without storing it anywhere physically or digitally. This would usually be very risky, as forgetting the passphrase would lead to a loss of funds, but this risk is now close to eliminated.
(The following part was not in the original answer)
Some IMPORTANT general secruity tips:
  1. Consider including trusted friends and/or family members as co-signers for a multisig wallet. This ensures that it's not even possible for you alone to hand over funds to an attacker. Depending on your level of trust, you might want to make sure that your co-signers can't collaborate to steal your funds (if you include 3 people, create at least a 4-of-n multisig). You could also deliberately make it possible for all or even just some of your co-signers to move your funds (3 co-signers, 3(or less)-of-n multisig) to make sure your funds aren't lost should pass away unexpectedly.
  2. Consider running your own full node and Electrum server (also check the alternatives), which you connect your Electrum wallet to. This ensures that you don't send your public key to anyone else. If someone knows your public key, they know how much BTC you own, making you a potential target.
  3. Always encrypt your wallet.dat (or whatever you called your wallet file), even if it's a watch-only wallet. This protects your public key (see 1. for why you want that).
  4. Create watch-only wallets: Use an airgapped) device to create a wallet with Electrum (make sure to back up the seed phrase) and export the public key. Then create a new watch-only wallet on another device (like your everyday laptop) with that public key to be able to check your funds. To create the initial wallet, you can also use any other hard- or software wallet that allows you to export the master public key.
  5. Hide, or (when using a hardware wallet with a passphrase) even delete your watch-only wallets. Hiding your funds makes you less of a target. When using a hardware wallet, recreating the watch-only wallet is fast and simple, so you don't need to store it if you don't want to check your funds every day. Note that this approach doesn't help much when you don't use a passphrase, as an attacker will obviously check the passphrase-less wallet no matter what.
  6. Keep some funds on your hardware wallet(s). If an attackers sees funds on the wallet(s), they might not force you to enter a passphrase or ask if you have any multisig wallets (lying under pressure is hard).
  7. Hide all your wallets in different places. If someone sees that you have multiple wallets lying around, they might realize you have a multisig wallet.
  8. Don't risk a robber getting (for example) two keys to your 2-of-4 multisig wallet and then racing them to move your funds with the other two keys when they leave. They're gonna come back and be pissed. If it comes to this, you need protection until the robber is caught. STAY SAFE!
  9. The easiest way to solve a problem is to never have it. Don't make yourself a target. If nobody even suspects that you have a multisig (or any wallet at all), they're probably not gonna look for it.
Please correct any mistakes you find and I will edit my post. I will also gladly add more tips to the list. I will of course credit anyone who helps.
Tip for devs who want something cool and important to work on: Make the creation and usage of multisig wallets as noob-friendly as possible. If someone expresses worries about losing access to their funds by forgetting the seed phrase, wallet pin, etc. (someone in my family actually brought this up to me), multisig wallets are the perfect solution as they add redundancy.
submitted by Fittiboy to Bitcoin [link] [comments]

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

Need help please urgent !

I sent bitcoins to my mate but without noticing i sent btc to my self but i sent them on the previous address wallet since blockchain doesn't change keep the wallet fix ! i didn'tt receive the btc !
submitted by pogoochamp to Bitcoin [link] [comments]

What is the best choice of Bitcoin wallet for me? Details in post

So I'm pretty much a complete noob when it comes to bitcoin mining but i figured I'd try it as a learning experience and as something to fund my robotics projects.
I came across a bitcoin mining program called NiceHash which I'm thinking of using, however it requires me to have a bitcoin address.
From my understanding, i need to have a bitcoin wallet which would then give me an address to use however I'm not sure which is the best one to use.
For the details. I live in England so my preferred currency is GBP. I'm under 18 however i do have a mastercard. I'm will only be running the program on my personal pc when I'm not using it so I'm not here to make millions, even hundreds is fine however i may upgrade to more pc's if this turns out to be a major success. I don't really want to pay for the wallet and i don't want any interest rates, if thats even a thing with wallets. Also something that is super secure, easy to use and i would have no difficulty with using.
I appreciate any and all answers and i will be answering any questions you leave in the comments.
Thanks!
Edit: using bitcoin.org, it recommended i use electrum. Any thoughts on whether thats a good idea or not?
submitted by HShahzad108277 to Bitcoin [link] [comments]

Help with lost funds.

Long story short, I sent bitcoin from my binance account to a vender using coingate. The amount sent out ended up being insufficient because binance took out fees from the money sent so the vender didn't accept the payment. I contacted coingate, and they are asking for the coingate order ID, or the output address. I've tried asking them for help on getting this info, but they Haven't been much help. Where can I get the order ID or the output address from?
submitted by Sharpie61115 to Bitcoin [link] [comments]

Making a bitcoin payment with cashapp

The only options are withdraw or deposit, when I hit withdraw it gives me the option to scan a QR code for the wallet I want to send it to or too manually enter. So I assume I hit withdraw, enter the amount of BTC I would like to send to this wallet and then scan the code, and that should make the payment right? Or am I missing something here? I’m currently trying to purchase something from a website that recommends using coinbase, I’ve had bad dealings with coinbase and refuse to use them again, so is it possible that they just won’t accept my payment because it’s from cashapp rather than coinbase? Or is it because withdrawing to their wallet is not the proper way to make payment? Because I’ve tried once and the payment didn’t go through
submitted by fuxwidyahard to Bitcoin [link] [comments]

How to Store Your Bitcoin

Before holding any bitcoin, you need somewhere to store it. Just like in the physical world, you store your bitcoin in a wallet.
Similar to a bank account number, your wallet comes with a wallet address that shows up in a ledger search and is shared with others so you can make transactions. This address, which is a shorter, more usable version of your public key, consists of between 26 and 35 random alphanumeric characters, something like 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa. Keep in mind that every letter and number in that address is important. Before sending any bitcoin to your wallet, double-check the entire address, character by character.
Also tied to your wallet address is one or more private keys, which as the name suggests should not be shared with anyone. Keys are used to verify you own the aforementioned public key, and to sign off on transactions. Some wallets create a secure seed phrase, a set of words that will allow you to unlock your wallet if you lose your keys. Print this phrase out and keep it in a safe place.
The unfortunate truth is your bitcoin wallet is akin to your physical wallet. If you lose the private keys to your wallet, you’re most likely going to lose the currency in it forever.
Your wallet generates a master file where your public and private keys are stored. This file should be backed up in case the original file is lost or damaged. Otherwise, you risk losing access to your funds.
You can store your private keys on your computer, mobile device, on a physical storage gadget or even on a piece of paper. It’s crucial that you keep your private keys safe by generating backups both online and offline.
Remember: Your wallet does not reside on any single device. The wallet itself resides on the Bitcoin blockchain, just as your banking app doesn’t truly “hold” the cash in your checking account.
While wallet apps work well and are relatively safe, the safest option is a hardware wallet you keep offline, in a secure place. The most popular hardware wallets use special layers of security to ensure your keys are not stolen and your bitcoin is safe. But, once again, if you lose the hardware wallet your bitcoins are gone unless you have kept reliable backups of the keys.
The least-secure option is an online wallet, i.e. storing your bitcoin in an exchange. This is because the keys are held by a third party. For many, the online exchange wallets are the easiest to set up and use, presenting an all-too-familiar choice: convenience versus safety.
Many serious bitcoin investors use a hybrid approach: They hold a core, long-term amount of bitcoin offline in so-called “cold storage,” while keeping a spending balance in a mobile account.
Depending on your bitcoin strategy and willingness to get technical, here are the different types of bitcoin wallets available. Bitcoin.org has a helper that will show you which wallet to choose.
Cloud wallets exist online and the keys are usually stored in a distant server run by a third party. Cloud-based wallets tend to have a more user-friendly interface but you will be trusting a third party with your private keys, which makes your funds more susceptible to theft. Some examples of this wallet type are Coinbase, Blockchain and Lumi Wallet. Most cryptocurrencies, including bitcoin, have their own native wallets. Some offer additional security features such as offline storage (Coinbase and Xapo).
With your private keys stored on a server, you have to trust the host’s security measures and also trust the host won’t disappear with your money or close down and deny you access.
Software wallets can be installed directly on your computer, giving you private control of your keys. Most have relatively easy configuration and are free. The disadvantage is you are in charge of securing your keys. Software wallets also require greater security precautions. If your computer is hacked or stolen, the thief can get a copy of your wallet and your bitcoin.
While you can download the original software Bitcoin Core protocol (which stores a ledger of all transactions since 2009 and takes up a lot of space), most wallets in use today are “light” wallets, or SPV (Simplified Payment Verification) wallets, which do not download the entire ledger but sync to it.
Electrum is a well-known SPV desktop bitcoin wallet that also offers “cold storage” (a totally offline option for additional security). Exodus can track multiple assets with a sophisticated user interface. Some (such as Jaxx Liberty) can hold a wide range of digital assets, and some (such as Copay) offer the possibility of shared accounts.
Before downloading any app, please confirm you are downloading a legitimate copy of a real wallet. Some shady programmers create clones of various crypto websites and offer downloads for free, leading to the possibility of a hack.
Mobile wallets are available as apps for your smartphone, especially useful if you want to pay for something in bitcoin in a shop or if you want to buy, sell or send while on the move. All of the online wallets and most of the desktop ones mentioned above have mobile versions, while others – such as Abra, Edge and Bread – were created with mobile in mind. Remember, many online wallets will store your keys on the phone itself, leading to the possibility of losing your bitcoin if you lose your phone. Always keep a backup of your keys on a different device and print out your seed phrase.
Hardware wallets are small devices that connect to the web only to enact bitcoin transactions. They are more secure because they are generally offline and therefore not hackable. They can be stolen or lost, however, along with the bitcoins that belong to the stored private keys, so it’s recommended that you backup your keys. Some large investors keep their hardware wallets in secure locations such as bank vaults. Trezor, Keepkey and Ledger are notable examples.
Paper wallets are perhaps the simplest of all the wallets. Paper wallets are pieces of paper that contain the private and public keys of a bitcoin address. Ideal for the long-term storage of bitcoin (away from fire and water, of course) or for the giving of bitcoin as a gift, these wallets are more secure in that they’re not connected to a network. They are, however, easier to lose.
With services such as WalletGenerator, you can easily create a new address and print the wallet on your printer. When you’re ready to top up your paper wallet you simply send some bitcoin to that address and then store it safely. Whatever option you go for, be sure to back up everything and only tell your nearest and dearest where your backups are stored.
submitted by hackatoshi to u/hackatoshi [link] [comments]

[ELI5] Buying bitcoin and using it on the web

Some weeks ago I tried buying bitcoin (used Luno) and then buying something but I could not figure out how. Luno asked for a bitcoin address to enter so I can send bitcoin while the website was asking for my bitcoin address so they can 'draw' the bitcoin I think.

I made this post because I did not want to lose more money due to my ignorance (I drew back my bitcoin when I hit dead-end).

Can someone ELI5 the procedure of buying bitcoin and then using it for example on Silk Road or any other similar website to buy weed or other stuff;

Disclaimer: The goods I wanna buy are legal in the country I am currently at but much cheaper. I do not endure the use of black market at any means.
submitted by stathis21098 to Bitcoin [link] [comments]

08-31 08:16 - 'The address the funds went to (bc1qcygs9dl4pqw6atc4yqudrzd76p3r9cp6xp2kny) is already known as Electrum phisher's address from the past, f.ex: [link], so this seems legit.' by /u/TheGreatMuffin removed from /r/Bitcoin within 608-618min

'''
The address the funds went to (bc1qcygs9dl4pqw6atc4yqudrzd76p3r9cp6xp2kny) is already known as Electrum phisher's address from the past, f.ex: [link]1 , so this seems legit.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: TheGreatMuffin
1: **t*ointa*k.org/ind***p*p?*opic=5182537.*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Virwox closing down. Am I SOL?

In 2016 I bought some bitcoin on Virwox, and then completely forgot about it. I recently got an email saying they're going out of business, and that I have to withdraw by January 6th to not lose my money.
I currently have about 1000 usd worth of btc but I really don't understand the website and customer service doesn't reply. I've read online that a lot of people are calling the site a scam.
Is there any way to recover my money?
submitted by spoktacus to Bitcoin [link] [comments]

ATM buying

what the the most reliable mobile wallet for ATM buying bitcoin? tia
https://bitcoin.org/en/choose-your-wallet?step=5&platform=android
how to choose ?? like a rocket science wallet and mostly has warning !!!!!
submitted by mchaikhun5 to Bitcoin [link] [comments]

Help needed: BTC lost in Dojo / Whirlpool

Hi,
been running mynode (paid version) for some months and I'm really loving it! Thanks to everyone being involved, it's an awesome package.
After running 0.2.0.3 for some weeks with Dojo and Whirlpool now without any problems suddenly shtf and I could not connect to Whirlpool via Whirlpool GUI 10.1 anymore.
Ok, did a lot of research via Google, Reddit etc. I even mailed the mynode premium support but after about a week now the never even responded to my eMail :-(
So what's the problem exactly: couldn't connect via GUI 10.1 no my Whirlpool anymore, always the same error like "could not connect to backend...". As said, nothing was changed and everything was working perfectly before.As mentioned I did a lot of reboots, research etc. and as the last option I installed Dojo and Whirlpool again and did the update to 0.2.0.7 . I connected my Samourai wallet to my Dojo (as mentioned in the mynode pages including the short deletion of my Samourai wallet and then after the successful connection to my Dojo restored my Samourai wallet again without any problems), connected Whirlpool to it, did a fresh install of Whirlpool GUI 10.1. and bingo now I could connect to my Dojo/Whirlpool again.
But what a shock: all funds in premix and in the postmix were gone. Whirlpool is completely empty... :-( I recognized that my Dojo has another TOR address now as it had before but don't know if this is important.
So is there any chance to get my funds that were in my Dojo/Whirlpool back? Aren't my bitcoins stored in my Samourai wallet when using Whirlpool? If not: were are they?
Thank you very much for your support, tips and thoughts!

++Edit 2020.06.07++ Did tons of research and after a lot of frustration got it done and my coins back :-)
Problem: When you restore your Samourai wallet (I did it via my Electrum Server with a new Electrum wallet) you have to do 4 different restores in 4 different wallets: - deposit restore - badbank restore (aka toxic change) - premix restore - postmix restore
Each of these restore needs to have a different derivation path, that did the trick!
I could as posted above and below restore my wallet via Samourai on my phone, but because of the different derivation paths the wallet was always empty...
Couldn't find these 4 different paths via support so if you have the same problem like me, please take a look here Wallets Recovery. Love this page!!!
Hope this post will help someone with the same kind of problems in the future!

submitted by DojoHDLR to mynodebtc [link] [comments]

HowTo: Create and Spend a Electrum Segwit 3of3 Multisig wallet with Trezors

I wrote a simlar post in Bitcoin about creating a MS wallet without a Trezor, this guide will focus on creating a 3of3 MS wallet with three Trezor's. Hopefully it should be obvious how to extend this to N-of-M for any value of N or M. You can also use this as a blueprint to do MS with non-HW Electrum wallets like Android.
It should be noted that this is the most general case method for setting this up. This allows to replace non-HW Electrum wallets into this procedure where HW-wallets are referenced. For the far simpler method, just pick Cosign with hardware device instead of Cosign with key as I outline here. If you choose Cosign with HW you can do the entire process in one wallet file in one session.
The main advantage of multisig is that it reduces the risk of one compromised seed exposing all your funds. Although this is exceedingly complicated, the added layer of complications make it all the more difficult to compromise your funds. Most of the complexity is on the initial wallet setup. Sending is only a bit more complicated, and Receiving is the same as it would be for any electrum wallet.
We will be creating three wallets here, and each will use a Trezor with its own seed, passphrase, and public key (Zpub). If your just wanting to play with this process you could use one Trezor with three different passphrases. Electrum will treat this like three different wallets, since... well since it is. The Zpubs will be calculated by Electrum.
For all references to wallet passphrases or encryption passwords, I highly recommend you generate six-word passphrases. Three simple ways to construct a six-word passphrase would be to either use EFF diceware long wordlist to roll for 6 words, or create a short six-word BIP39 seed and use that as a passphrase, or create a random Electrum seed and use the last 6 words. You will need to take care that all six-word passphrases are equal or less than 50 characters. Longer passphrases can produce some unexpected results. Whenever you need to create a passphrase or password from here on out, create a six-word string as described above.
Assuming your have your Trezors initialized with passphrases enabled, our first order of business will be ensuring the authenticity of Electrum. For the PC's this must be done with PGP/GPG following the procedure spelled out on the Electrum website, or the secondary docs. It is absolutely critical that you are certain your using the correct ThomasV key. As of the time of this writing, the "correct" ThomasV key was:
ThomasV PGP: 6694 D8DE 7BE8 EE56 31BE D950 2BD5 824B 7F94 70E6
Once your Electrum install is validated, here is excruciating detail on creating and spending from a 3of3 multisig wallet. This assumes you have passphrases enabled on all your Trezors and that each has a unique name. For simplicity I will simply refer to their names at "trez-1", "trez-2", and "trez-3"

Three Wallet Creation passes

Do the following first for "trez-1", then for "trez-2" and finally for "trez-3". The order is VERY important:
  1. Wallet->New, name your wallet
  2. Then insert your Trezor ("trez-1", "trez-2", or "trez-3")
  3. Choose Multisig Wallet, then 3of3
  4. Choose Use a hardware device
  5. Select device
  6. Craft (and record) a new 6 word passphrase
  7. Choose Native Segwit derivation
  8. Record Zpub
  9. Unplug your Trezor ("trez-1", "trez-2", or "trez-3")
  10. Choose Add Cosigner Key
  11. Wait at "Add Cosigner 2" dialog

Distribute Zpubs to Finish Wallet Creation

When completing the setup for each wallet below you will be prompted for a wallet encryption password. I recommend you craft a unique six-word string as described above. If Electrum asks to reconnect to your HW wallet simply say "No". You will notice that the order is the reverse of the previous portion. As before, the order is VERY important,.
  1. Swap over to your trez-3 wallet
  2. Click "Enter Cosigner Key"
  3. Enter trez-1 Zpub
  4. Click "Enter Cosigner Key"
  5. Enter trez-2 Zpub
  6. Swap over to your trez-2 wallet
  7. Click "Enter Cosigner Key"
  8. Enter trez-3 Zpub
  9. Click "Enter Cosigner Key"
  10. Enter trez-1 Zpub
  11. Swap over to your trez-1 wallet
  12. Click "Enter Cosigner Key"
  13. Enter trez-2 Zpub
  14. Click "Enter Cosigner Key"
  15. Enter trez-3 Zpub
You can now close each wallet file.
You should now have recorded:
Keep the 12 secrets secure, separate and safe.

Receive funds into your 3of3 MS wallet

Receive just like any other wallet. All three wallets will watch the same set of addresses

Spend funds from your 3of3 MS wallet

  1. Create a TXN as you normally would on your first device
  2. In the TXN dialog hit "Preview" instead of Send
  3. In the Preview screen hit "Sign", then "Export"
  4. Copy the TXN over to your second device
  5. On your second device click Tools->Load Transaction
  6. Enter your partially signed TXN
  7. Verify the Status reads "Partially signed (1/3)"
  8. In the Preview screen hit "Sign", then "Export"
  9. Copy the TXN over to your third device
  10. On your third device click Tools->Load Transaction
  11. Enter your partially signed TXN
  12. Verify the Status reads "Partially signed (2/3)"
  13. In the Preview screen hit "Sign", then "Broadcast"

Conclusion

Certainly more complicated than a non MS wallet, but a lot more secure. Also be aware that the Segwit MS TXNs are about 40% larger than the native Segwit TXNs, so this does generate some additional cost in TXN fees.
submitted by brianddk to TREZOR [link] [comments]

FAQ for Beginners

What is Bitcoin?

Bitcoin is scarce, decentralized, and global digital money that cannot be censored.

Quick Advice

  • Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
  • Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
  • If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
  • Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading.
  • Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like Robinhood and Revoult should be avoided because you cannot withdraw or use Bitcoin.
  • Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet.
  • Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.

Exchanges Requiring ID Verification

Bitcoin = BTC or XBT on exchanges
Exchange Buy fee* Withdraw BTC Notes
Cash App Sliding ~2.2% to 1% 0 BTC Instant Withdraw, USA only
Coinbase Debit3.99% ACH1.49% 1-4USD ~7Day hold BTC withdraw
CoinbasePro 0.5% 1-4USD ~7Day hold free ACH Deposit or €0.15 EUR SEPA fee
Gemini 1.49% to 0.25%ATrader 0 BTC 10 free BTC withdraws w/ActiveTrader
Kraken 0.16% 0.0005 BTC Deposit Fiat=USwire+5USD or SEPA free
Bitstamp 0.50% 0.0005 BTC Deposit Fiat=0 SEPA or 5% card fee
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit.
More exchanges per location
For a secure Decentralized Exchange (DEX) use https://bisq.network

Recommended Wallets

Best wallets for securing small amounts of BTC
electrum For Desktop and Android
Pros= Great Desktop and Android wallet with advanced functionality like coin control
Cons= UX is not as polished as some other wallets, make sure you only upgrade from official sources like play store or https://electrum.org as malicious servers or adverts can tell you to upgrade malware from other sites
https://www.youtube.com/watch?v=E4EhZg5QslI
Phoenix LN wallets for Android
Pros- Lightning network integration(as well as onchain) allowing you to spend with LN merchants for instant confirmations and much lower fees. Easiest lightning wallet to use
Cons- Lightning is still somewhat experimental and less merchants accept it.
https://phoenix.acinq.co/
https://www.youtube.com/watch?v=Cx5PK1H5OR0
Breez LN wallet for Android and IOS
https://breez.technology
https://www.youtube.com/watch?v=t_4b-y4T8bY
Pros- Lightning network integration(as well as onchain) allowing you to spend with LN merchants for instant confirmations and much lower fees
Cons- Lightning is still somewhat experimental and less merchants accept it.
Other Lightning wallets - http://lightningnetworkstores.com/wallets
Blockstream Green Wallet IOS and android wallet
Pros- Great UX, easy hardware wallet and full node integration, RBF, HW wallet support and advanced 2fa options Cons- Until single signature is released 2 of 2 multisig means that one must depend upon blockstream’s server for tx signing. Other light wallets are dependent upon other servers as well but light wallets like electrum allow you to swap servers.
https://www.youtube.com/watch?v=uO3Zi9D5b0Y
https://blockstream.com/green/
Securing Larger amounts of Bitcoin
ledger nano S wallet = ~68 USD https://shop.ledger.com/products/ledger-nano-s
https://www.youtube.com/watch?v=YI1OntWB7wc
https://www.youtube.com/watch?v=AGe2GgfkO64
trezor one wallet = ~54 USD https://shop.trezor.io
https://www.youtube.com/watch?v=pT1j_kbZBEo
Trezor Model T = ~164 USD https://shop.trezor.io
https://www.youtube.com/watch?v=i3BIo5Ac_n4
Cold Card Hardware wallet = 119.97 USD https://store.coinkite.com/store/coldcard
https://www.youtube.com/watch?v=kocEpndQcsg
https://www.youtube.com/watch?v=f8dBNrlwJ0k
Digital Bitbox 02 = 109 USD https://shiftcrypto.ch/bitbox02/
https://www.youtube.com/watch?v=tdP_7LgZw7s
https://www.youtube.com/watch?v=z7nRq2OEhiw
https://www.youtube.com/watch?v=6D4FgJo3j64
Best Advanced Bitcoin Wallet= Bitcoin Core
Pros= Great privacy and security
Cons= UX is for more experienced users, takes ~week to sync and requires ~5GB minimum disk space if prunned
https://bitcoincore.org/en/download/
Best High Privacy Bitcoin Wallet = Wasabi
Pros= Best Privacy with Chaumian CoinJoin built in
Cons= mixing coins costs more fees and for more advanced users
https://www.wasabiwallet.io/#download
https://www.youtube.com/watch?v=ECQHAzSckK0
https://www.youtube.com/watch?v=zPKpC9cRcZo&list=PLmoQ11MXEmahCG1nkbKK6DiAwVx9giJCi
https://www.youtube.com/watch?v=y8wQK-Ndl3Q&list=PLPj3KCksGbSaEmjU0sywoTYDVYYSu8LsS

Further Resources

https://www.lopp.net/bitcoin-information.html
https://www.lopp.net/lightning-information.html
https://10hoursofbitcoin.com/
http://bitcoinrabbithole.org/
https://bitcoin-resources.com
https://www.bitcoin101.club
https://21lessons.com
submitted by bitusher to BitcoinBeginners [link] [comments]

Get Bitcoin Gold out of Electrum in 99 Seconds How to use 2fa in Electrum How to Setup a Bitcoin Wallet with Electrum - YouTube How to sweep private keys - Using the Electrum Bitcoin ... How to enter all Private keys and sweep BTCP into a new address

A Bitcoin wallet is as simple as a single pairing of a Bitcoin address with its corresponding Bitcoin private key. Such a wallet has been generated for you in your web browser and is displayed above. To safeguard this wallet you must print or otherwise record the Bitcoin address and private key. It is important to make a backup copy of the private key and store it in a safe location. Electrum-LTC is a community-maintained port of Electrum, the Bitcoin wallet, to Litecoin. It is not an official product of Electrum Technologies GmbH, which does not support it. IMPORTANT NOTICE (February 2019) Versions of Electrum and Electrum-LTC older than 3.3.3 are vulnerable to a phishing attack, where malicious servers are able to display a message asking users to download a fake version ... The “Pay to” field holds a Bitcoin address of your intended payee, which can be manually entered or pasted from the clipboard. Adding a description will help you identify the payment later. The total amount of the transaction is the sum of the sent amount and transaction fee. Electrum issues a warning in the form of a red amount if the total transaction amount exceeds the wallet balance ... How to accept Bitcoin on a website using Electrum ... electrum -o setconfig payserver_address ecdsa.org:80 Start the Electrum daemon ¶ Once your read-only wallet is (re-)created, start Electrum as a daemon: electrum daemon -d electrum daemon load_wallet Note: to stop the daemon. electrum stop Create a signed payment request¶ electrum add_request 0.5 -m "test" {"URI": "bitcoin ... Die Electrum Bitcoin Wallet im ausführlichen Test Electrum Wallet: Alle wichtigen Details. Wallet-Name: Electrum Akzeptierte Coins: Bitcoin Verlinkte Exchanges: Alle gängigen Bitcoin-Exchanges Länder: Weltweit verfügbar Sprachen: 29, unter anderem Deutsch Mobile-Kompabilität: Android-Wallet wurde im Jahr 2016 für die mobile Nutzung veröffentlicht. Wallet Bewertung: 4.1/5

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Get Bitcoin Gold out of Electrum in 99 Seconds

This video demonstrates how to get Bitcoin Gold out of Electrum, using an Android app called Coinomi as an extra tool. Bitcoin Gold is a little-known fork of bitcoin that was created on November ... How to move your bitcoin from a public exchange like Coinbase to your computer or any hard drive, using Electrum Bitcoin Wallet. Secure Download - Electrum official website: https://electrum.org ... How to import your bitcoin segwit paper wallet into Electrum with bech32 or P2SH addresses. In this video I discuss the new bech32 address feature hidden in segwitaddress.org and how you can ... Expand Description for more information! ♦ In today's video I walk through the process of setting up a Bitcoin software wallet using Electrum. Software Wal... Even if you lost the seed, as long as you have the correct private key, you can access your money. This is a useful resource for accessing, securely storing,...

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