Bitcoin, Cryptocurrency and Blockchain Discussion Thread

[jvmoore1]

Have you thought about building out a multiple video card system?

yeah and i still may. just wanted to see if it was even worth it

 

[Bebop]

Being a live event goer myself, I discovered through watching CNBC this company called Blocktix. Super interesting platform they are building.

One to check out. Nice thing is total supply is smaller and price is low too. If you like going to concerts or live events in general, maybe this might be for you. Built upon the Ethereum Blockchain. More than just the price is really the actual product itself, which is very promising.

Blocktix - An Ethereum based Event hosting platform designed for the real world

 

[Bebop]

MAJOR EDIT: On my long post describing how to buy other alt coins. I discovered through someone, a way to do it more faster.

Bitcoin and Ether transactions/deposits have been taking hours and hours to confirm. Really a pain in the butt when you had plans to buy at a dip and it's surging up.

1.) Buy Litecoin instead of Bitcoin on Coinbase.

2.) Transfer Litecoin from GDAX to Binance. Same steps so far except we are using Litecoin.

Apparently it's only about 10 minutes or so to confirm.

3.) Exchange Litecoin for Bitcoin ON Binance. THEN exchange the Bitcoin you now have for whatever alt coin you were looking to buy, again still on Binance.

This is a fast way if the alt coin you are looking to buy only exchanges with Bitcoin or even Ether for that matter.

 

[HankLloydRight]

I'm doing exactly that today (with Litecoin) but on Bitsane.com instead of Binance.

 

[Az_Rael]

Wow, looks like Binance is halting new user signups. Bittrex did that mid December and still hasn’t opened back up.

I guess we are seeing the effects of all the increased interest, with major media outlets covering alt coins like Ripple. It will be interesting to see which exchanges survive all this traffic.


Oh, and a safety note if you are going to buy a Ledger Nano from anywhere but the manufacturer: the seed does NOT come pre-printed on a scratch off card. That IS a scam, and do not use that seed. Reset the Ledger by entering an incorrect PIN 4 times and start over.

There is a very well executed scam happening now on eBay, where the seller has initialized the Ledger, copied the seed then prints it on a scratch off and reseals the Ledger in its box. Then the scammer just waits for the buyer to load currency onto the compromised seed and withdraws it.

 

[Unpilot]

Wow, looks like Binance is halting new user signups. Bittrex did that mid December and still hasn’t opened back up.

I guess we are seeing the effects of all the increased interest, with major media outlets covering alt coins like Ripple. It will be interesting to see which exchanges survive all this traffic.


Oh, and a safety note if you are going to buy a Ledger Nano from anywhere but the manufacturer: the seed does NOT come pre-printed on a scratch off card. That IS a scam, and do not use that seed. Reset the Ledger by entering an incorrect PIN 4 times and start over.

There is a very well executed scam happening now on eBay, where the seller has initialized the Ledger, copied the seed then prints it on a scratch off and reseals the Ledger in its box. Then the scammer just waits for the buyer to load currency onto the compromised seed and withdraws it.

I almost fell for the "cheaper" nano but in the end I decided to order one from Manufacturer.

Sometimes it pays to spend a little more and wait a little longer.

 

[Bebop]

So I tried the Litecoin route I mentioned and I can confirm it is extremely faster. Took me only about 10 minutes for confirmation. My last Bitcoin transfer took over 18 hours.

And there wasn't any value lost. I was fearful there would be a significant amount of value loss going through 3 different exchanges of currency instead of the two i used to do. Not the case as long as you do the trades right away. Litecoin to Bitcoin.

 

[Bebop]

Wow, looks like Binance is halting new user signups. Bittrex did that mid December and still hasn’t opened back up.

I guess we are seeing the effects of all the increased interest, with major media outlets covering alt coins like Ripple. It will be interesting to see which exchanges survive all this traffic.

Curious to see what happens once a lot of these exchanges open up new user account registration. I expect the markets overall to go up.

It’s like Black Friday. A whole horde of people waiting behind the closed door. Once the door opens a stampede.

Oh, and a safety note if you are going to buy a Ledger Nano from anywhere but the manufacturer: the seed does NOT come pre-printed on a scratch off card. That IS a scam, and do not use that seed. Reset the Ledger by entering an incorrect PIN 4 times and start over.

There is a very well executed scam happening now on eBay, where the seller has initialized the Ledger, copied the seed then prints it on a scratch off and reseals the Ledger in its box. Then the scammer just waits for the buyer to load currency onto the compromised seed and withdraws it.

Yes, absolutely buy direct from manufacturer. Don’t cheap out when we are talking about protecting a lot of money.

Life Savings Stolen from Second-hand Ledger Hardware Wallet
Life Savings Stolen from Second-hand Ledger Hardware Wallet

via Blockfolio: Blockfolio

 

[oneday]

I just opened a new binance account and had no trouble, guess their back open for service.

Bebop thanks for the tip on using LTC to transfer into binance.

I’m going to throw a little gambling coin at Tron, Ripple and IOTA.

 

[HankLloydRight]

I just opened a new binance account and had no trouble, guess their back open for service.

You must have some magic touch or secret handshake, because their site still says it's on 'registration pause'. Even if you un-hide the registration form and submit it, it still is rejecting new signups.

 

[oneday]

You must have some magic touch or secret handshake, because their site still says it's on 'registration pause'. Even if you un-hide the registration form and submit it, it still is rejecting new signups.

That is quite odd. I registered on mobile via my iPhone if that makes any difference.

Edit: I just want back to their site, logged out and clicked register and now I’m getting the registrations paused message.

 

[Bebop]

If anyone needs a referral code for Binance for new signups. I’ll be more than happy to give mine out.

Same with Coinbase.

Also, the markets went way down today because coinmarketcap (website) decided to delete the Korean exchanges into the overall index average. It had no effect on on other countries, but what happened was people didn’t know what was happening and I’m guessing a panic sell occurred. Amazing time to buy a lot of coin for a discount. I see it as a flash sale

 

[HankLloydRight]

I see it as a flash sale

The coins I'm watching closely, ETH, RPL and TRX are trending much higher this afternoon. There was an extremely brief sell-off around 10AM ET today, but it popped right back up.

 

[Bebop]

The coins I'm watching closely, ETH, RPL and TRX are trending much higher this afternoon. There was an extremely brief sell-off around 10AM ET today, but it popped right back up.

Yeah it looks like things have picked back up since the morning.

 

[dhanson865]

I wonder if the coins earned from mining are worth it from a energy used perspective?
I am running winminner on a old gaming rig in basement and over night I "made" about $1.50

That depends on your mining software, OS, video card, and how much your electricity costs. Change anyone of these and it could switch from profitable to unprofitable or vice versa. Change two or more parameters and it will likely change the scale significantly.

Also depends on if you need to convert the coin to fiat immediately to pay the bills. If you can hold it most mining that is marginally profitable has the possibility to be wildly profitable if you mine and hold.

I mined in 2011 and didn't sell any until 2017. As long as you are willing to wait in indefinite period for a gain in value there is a likelihood there will be a spike sometime down the road.

 

[HankLloydRight]

The Binance registration is working right now. They must turn it off later in the day

Register for Your Binance Account


edit: See: Binance Re-opens Limited User Registrations and Adjusts Referral Program Terms

 

[Bebop]

Well coinmarketcap.com decided for whatever reason to remove korean exchanges from the overall index. Thus dropping the entire market in the red. Then creating a panic sell most likely. From what I hear they removed the korean exchanges from the index because it's more inflated in price compared to other exchanges.

They gave no warning or heads up about this. Incase anyone is wondering why everything is so down.

 

[Unpilot]

Except Ether....that is going gangbusters.

 

[jhm]

Cryptographically speaking, you are wrong. The private keys are all kept in wallets, and failing some breach of security, are never disclosed. They certainly don't appear in the blockchain. The public keys appear in the blockchain, and it is theoretically possible for the private key to be recovered based on the known system parameters and the corresponding public key. Using classical computers this is thought to be intractable, requiring on the order of 2^128 complicated operations. However, a single quantum computer of large enough size and high reliability could not only recover one secret key from one public key, but in doing so would have done most of the work to recover all secret keys (so long, bitcoin...). "Post-Quantum Cryptography" is a very active research field, looking for algorithms that will be safe even in the face of working quantum computers.

I do classical (that is, non-quantum) crypto, and mostly symmetric not public key, but people I know and respect greatly think that we will have very little warning when quantum computers become practical. Basically it's a matter of passing a limiting threshold of quantum error correction working. Below that threshold, they don't really work, above that threshold it's just a matter of cost and scale. The higher bitcoin goes, the more money it's worth throwing at the problem.

So are you saying that cryptocurrencies could act as a huge bounty to motivate the development of quantum computers?

 

[xhawk101]

Suggestions for penny altcoins anyone?