blockchain.info - Dumping private keys from wallet.dat ...

It’s happening!

It’s happening! submitted by NegroFromCongo to Buttcoin [link] [comments]

Lost electrum seed key.

So basically i got this problem and im new to BTC. I downloaded electrum and bitcoin core yesterday. Created electrum vallet that is imported, watching only and a friend of mine sent money to my address. Now i searched around and found out that i can't send btc to others if its watching only. Then i found out i needed seed that i didnt write down when created this acc. Anyone can help me with making it from imported watching only to standart vallet without seed? I got the password and the vallet opened on my pc but i don't know how to fix the problem.
submitted by Snizaars to Electrum [link] [comments]

The next XVG? Microcap 100x potential actually supported by fundamentals!

What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why:
Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network.
The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership.
The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI.
ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil.
Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets.
100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”.
Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy.
I am super bullish on this coin for the following reasons:
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to.
This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
  1. A https://www.vice.com/en_us/article/d35eax/amazon-bitcoin-patent-data-stream-identify-cryptocurrency-for-law-enforcement-government
  2. B https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
  3. C https://www.coindesk.com/binance-blockade-of-wasabi-wallet-could-point-to-a-crypto-crack-up
  4. D https://cointelegraph.com/news/centre-freezes-ethereum-address-holding-100k-usdc
  5. E https://www.coindesk.com/us-treasury-blacklists-bitcoin-litecoin-addresses-of-chinese-drug-kingpins
  6. F https://www.youtube.com/channel/UCWkTxl5Z6DNN0ASMRxSKV5g
  7. G http://epic.tech/whitepaper
  8. H https://medium.com/epic-cash/epic-cash-on-uniswap-22447904d375
  9. I https://epic.tech/wp-content/uploads/2019/09/figure-3.1.jpg
Links:
submitted by pinchegringo to CryptoMoonShots [link] [comments]

Possible to restore old wallet to Electrum with .dat file?

I figured there would be tons of guides on this but I tried for half an hour but with no luck. I had an old Bitcoin Core Wallet but wanted to try Electrum on my new PC. Is there any way to transfer my funds using the .dat file to Electrum? Electrum will behave in the same way my Bitcoin Core wallet did right?
submitted by The_Austin to Electrum [link] [comments]

Bitcoin SV loses over $100 million in market value of about $1.1 billion since Monday, according to CoinMarketCap.com. Now around $56 and drops from 12th to 14th largest cryptocurrency

Bitcoin SV loses over $100 million in market value of about $1.1 billion since Monday, according to CoinMarketCap.com. Now around $56 and drops from 12th to 14th largest cryptocurrency submitted by normcrypto to CryptoCurrency [link] [comments]

Regarding Bitcoin Diamond....

Regarding Bitcoin Diamond.... submitted by violencequalsbad to Bitcoin [link] [comments]

Feels good man!

Feels good man! submitted by 170707 to Bitcoin [link] [comments]

Top 25 Questions and answer About Cryptocurrency

Top 25 Questions and answer About Cryptocurrency
https://preview.redd.it/dju4oz1g16c51.jpg?width=2400&format=pjpg&auto=webp&s=fe57edcd81ffa31bff95fe3026055020f7720dce
Cryptocurrencies have now become a buzz word. Despite the resilience that it faced initially, cryptocurrencies have come a long way. There are a total of around 5000 cryptocurrencies circulating in the market. If you plan to make a career in this domain, you need to run through the following questions.
1. What is a cryptocurrency?
Cryptocurrency is a digital currency that is transacted on a distributed ledger platform or decentralized platform or Blockchain. Any third party does not govern it, and the transaction takes place between peer-to-peer.
2. When was the first Cryptocurrency introduced?
The first Cryptocurrency or Bitcoin was introduced in the year 2009.
3. Who created Cryptocurrency?
Satoshi Nakamoto gave the first Cryptocurrency. The white paper for the same was given in 2008 and a computer program in 2009.
4. What are the top three cryptocurrencies?
The following are the three cryptocurrencies:
• Bitcoin (BTC) $128bn.
• Ethereum (ETH) $19.4bn.
• XRP (XRP) $8.22bn.
5. Where can you store Cryptocurrency?
Cryptocurrencies are stored in a digital wallet, and this is accessible via public and private keys. A public key is the address of your wallet, and the private key is the one that helps you in executing the transaction.
6. Which is the safest wallet for Cryptocurrency?
The most secured wallet for Cryptocurrency is a hardware wallet. It is not connected to the internet, and thus it is free from a hacking attack. It is also known as a cold wallet.
7. From where I can purchase cryptocurrencies?
The easiest way to buy Cryptocurrency is via crypto exchange. You can several crypto exchanges like Coinbase, Bitbuy, CHANGENow, Kraken etc.
8. What are the ten popular crypto exchanges?
The following are the best ten popular crypto exchange:
  1. Coinbase
  2. Binance
  3. FTX
  4. Cex.io
  5. Local Bitcoins
  6. Bitfinex
  7. LocalBitcoins
  8. Bittrex
  9. Coinmama
  10. Kraken
9. What are the key features of Blockchain?
We all know that Bitcoin or any other cryptocurrency runs on the Blockchain platform, which gives it some additional features like decentralization, transparency, faster speed, immutability and anonymity.
10. What is AltCoin?
It means Alternative Coin. All the cryptocurrencies other than Bitcoin are alternative coins. Similar to Bitcoin, AltCoins are not regulated by any bank. The market governs them.
11. Are cryptocurrency sites regulated?
Most cryptocurrency websites are not regulated.
12. How are Cryptocurrency and Blockchain related?
Blockchain platform aids cryptocurrency transactions, which makes use of authentication and encryption techniques. Cryptography enables technology for Cryptocurrency, thus ensuring secure transactions.
13. What is a nonce?
The mining process works on the pattern of validating transactions by solving a mathematical puzzle called proof-of-work. The latter determine a number or nonce along with a cryptographic hash algorithm to produce a hash value lower than a predefined target. The nonce is a random value used to vary the value of hash so that the final hash value meets the hash conditions.
14. How is Cryptocurrency different from other forms of payment?
Cryptocurrency runs on Blockchain technology, which gives it an advantage of immutability, cryptography, and decentralization. All the payments are recorded on the DLT, which is accessible from any part of the world. Moreover, it keeps the identity of the user anonymous.
15. Which is the best Cryptocurrency?
Several cryptocurrencies have surged into the market, and you can choose any of these. The best way to choose the right cryptocurrencies is to look at its market value and assess its performance. Some of the prominent choices are Bitcoin, Ethereum, Litecoin, XRP etc.
16. What is the worst thing that can happen while using Cryptocurrency?
One of the worst things could be you losing your private keys. These are the passwords that secure your wallet, and once they are lost, you cannot recover them.
17. What is the private key and public key?
Keys secure your cryptocurrency wallet; these are public key and private key. The public key is known to all, like your bank account number, on the hand, the private key is the password which protects your wallet and is only known to you.
18. How much should one invest in Cryptocurrency?
Well, investing in Cryptocurrency is a matter of choice. You can study how the market is performing, and based on the best performing cryptocurrency, you can choose to invest. If you are new to this, then it’s advisable that you must start small.
19. From where can one buy Bitcoin using Fiat currency?
Two of the popular choices that you have are Coinbase and Binance, where you can purchase Cryptocurrency using fiat currency.
20. Are the coins safe on exchanges?
All the exchanges have a high level of security. Besides, these are regularly updated to meet the security requirements, but it’s not advisable to leave your coins on them since they are prone to attack. Instead, you can choose a hard wallet to store your cryptocurrencies, which are considered the safest.
21. What determines the price of cryptocurrencies?
The price of cryptocurrencies is determined by the demand and supply in the market. Besides, how the market is performing also determines the price of cryptocurrencies.
22. What are some of the prominent cryptocurrencies terminologies?
There are jargons which are continuously used by people using cryptocurrencies are:
DYOR: Do Your Own Research
Dapps: Decentralized Applications
Spike: Shapr increase in the price of the Cryptocurrency
Pump: Manipulated increase in the price of a cryptocurrency
Dump: Shapr decline in the price of Cryptocurrency
23. How can I check the value of cryptocurrencies?
Various platforms will give you an update on the price of cryptocurrencies. You can keep a tab on them and check the pricing of cryptocurrencies.
24. What are the advantages of using digital currencies?
There are various advantages like you are saved from double-spending, the transactions are aster and secure. Moreover, digital currencies now have global acceptance.
25. What is the difference between cryptocurrencies and fiat currencies?
Cryptocurrencies are digital currencies which run on the Blockchain platform and are not governed by any government agencies, while the fiat currencies are the ones which are governed by authorities and government.
Conclusion- This was all the FAQs pertaining to cryptocurrency, for more such information keep coming back to Blockchain Council.
submitted by Blockchain_org to BlockchainStartups [link] [comments]

So when do we start killing of BCH posts? It's an alt now right? Good luck to em. Back to bitcoin?

submitted by Frogolocalypse to Bitcoin [link] [comments]

Transferring bitcoins from cold storage to mobile

This may be a super ridiculous question but worth a shot
Background: I currently have an armory wallet on a harddrive that has my Bitcoins stored. The problem is I'm sick of waiting for Bitcoin core to sync and then armory to sync with it all. Armory usually gets stuck scanning the tx history and I can't access my Bitcoins when I need to.
Question: I want to store all my Bitcoins on my android in Mycelium, it asks for a backup so despite armory not being fully synced can I backup the wallet and restore it on mycelium?
TL;DR can you restore a wallet from armory that hasn't synced with the database on mycelium?
submitted by hazeyAnimal to Bitcoin [link] [comments]

30+ Reasons Why Cryptocurrencies Are Worthless

1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.

2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc)

3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold.

4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash.

5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it.

6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..

proofs :

“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”

Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”

Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”

Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.

EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “

Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..

7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.

8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard.

9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”.

10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..

11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.

12)Bitcoin price may artificially be inflated by Tether.

13)It’s an energy waste , an environmental catastrophy.

14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.

15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.

16)Most cryptos are scams , the rest are just crazy speculative casino investments.

17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable. That's why the best cryptocurrencies are USDT USDC etc..

18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous !

19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin)

20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it.

21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable.

22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.

23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it.

24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen.

25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.

26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.

27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real!

28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street…

29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked

30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies.

31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC.

32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack).

33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee)

34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack.

35) Compared to bitcoin other cryptos work just as fine and don't waste so much energy.

36 ) Everytime miners disagree on the updates it will create another version of bitcoin : problem of governance and legitimacy.

37) Cryptos are only legitimate if they act as a credit for a redeemable asset like USDT or gold backed coins.


While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
submitted by OverTheRedHills to u/OverTheRedHills [link] [comments]

Jaxx, what's up with Bitcoin Cash...

It has been 10 days already. Any news, updates, instructions to claim BCC/BCH?
submitted by zx302 to jaxx [link] [comments]

[Part 1] KAVA Historical AMA Tracker! (Questions & Answers)

ATTN: These AMA questions are from Autumn 2019 - before the official launch of the Kava Mainnet, and it's fungible Kava Token.
These questions may no longer be relevant to the current Kava landscape, however, they do provide important historical background on the early origins of Kava Labs.
Please note, that there are several repeat questions/answers.

Q1:

Kava is a decentralized DEFI project, why did you implement the countries restrictions to run the node? Will there be such restrictions by the time of the mainnet?

Q2:

According to the project description it has been indicated that staking reward (in KAVA tokens) varies from 3 to 20% per annum. But how will you fight with inflation?

We all know how altcoins prices are falling, and their bottom is not visible. And in fact, we can get an increase in the number of tokens for staking, but not an increase in the price of the token itself and become a long-term investor.

  • Answer: Kava is both inflationary with block rewards, but deflationary when we burn CDP fees. Only stakers who bond their Kava receive inflationary rewards - users and traders on exchanges do not get this. In this way, rewards are inflated, but given to stakers and removed value from the traders who are speculating like a tax. The Deflationary structure of fees should help counterbalance the price drops from inflation if any. In the long-term as more CDPs are used, Kava should be a deflationary asset by design if all things go well

Q3:

In your allocation it is indicated that 28.48% of the tokens are in the "Token treasury" - where will these tokens be directed?

  • Answer: Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released.
  • No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q4:

Such a platform (with loans and stable coins) is just the beginning since these aspects are a small part of many Defi components. Will your team have a plan to implement other functions, such as derivatives, the dex platform once the platform is successfully launched?

  • Answer: We believe Kava is the foundation for many future defi products. We need stable coins, oracles, and other infrastructure first that Kava provides. Once we have that, we can apply these to derivatives and other synthetics more easily. For example, we can use the price feeds and USDX to enable users to place 100x leverage bets with each other. If they both lock funds into payment channels, then they can use a smart contract based on the price feed to do the 100x trade/bet automatically without counter party risk. In this way, Kava can expand its financial product offerings far beyond loans and stable coins in the future.

Q5:

There are several options for using USDX on the KAVA platform, one of which is Margin Trading / Leverage. Is this a selection function or a compulsory function? Wondering since there are some investors who don`t like margin. What is the level of leverage and how does a CDP auction work?

  • Answer: This is a good #Q . Kava simply provides loans to users in USDX stable coins. What the users do is completely up to them. They can use the loans for everyday payments if they like. Leverage and hedging are just the main use cases we foresee - there are many ways people can use the CDP platform and USDX.

Q6:

Most credit platforms do not work well in the current market. What will you do to attract more people to use your platform and the services you provide? Thank you

  • Answer: Most credit platforms do not work well in the current market? I think that isn't correct at least for DeFi. Even in the bear market, MakerDao and Compound saw good user growth. Regardless, our efforts at Kava to build the market are fairly product and BD focused. 1) we build more integrations of assets and expand financial services to attract new communities and users. 2) we focus on building partnerships with high quality teams to promote and build Kava's core user base. Kava is just the developer. Our great partners like Ripple, Stakewith.Us, P2P, Binance - they have the real users that demand Kava. They are like our system integrators that package Kava up nicely and present it to their users. In order to grow, we need to deepen our partnerships and bring in new ones around the world.

Q7:

KAVA functions as a reserve currency in situations where the system is undercollateralized. In such cases new KAVA is minted and used to buy USDX off the market until USDX becomes safely overcollateralized.

Meaning, there will be no max supply of KAVA?

  • Answer: Yes, there is no max supply of Kava.

Q8:

Why Kava?

  • Answer: ...because people are long BTC and the best way to go long BTC without giving up custody is Kava's platform. Because it is MakerDao for bitcoin. Bitcoin has a 10x market cap of ETH and Maker is 10x the size of Kava. I think we're pretty undervalued right now.

Q9:

How do you plan to make liquidity in Kava?

  • Answer: Working with Binance for the IEO and as the first exchange for KAVA to trade on will be a huge boost in increasing the liquidity of trading KAVA.

Q10:

Most crypto investors or crypto users prefer easy transaction and low fees, what can we expect from KAVA about this?

  • Answer: Transaction fees are very low and confirm if seconds. The user experience is quite good on Tendermint-based blockchains.

Q11:

How do I become a note validator on KavA?

Q12:

It is great to know that KAVA is the first DEFI-supported project sponsored by Binance Launchpad, do you think this is the meaning that CZ brings: Opening the DEFI era, as a leader, you feel like how ?

  • Answer: We are the first DeFi platform that Launchpad has supported. We are a very strategic blockchain for major crypto like BNB. Kava's platform will bring more utility to the users of BNB and the Binance DEX. It feels good of course to have validation from the biggest players in the space like Cosmos, Ripple, CZ/Binance, etc.

Q13:

Since decentralized finance applications is already dominating, how do you intend to surpass those leading in the market?

  • Answer: The leaders are only addressing ethereum. BTC, XRP, BNB, ATOM is a much larger set to go after that current players cannot.

Q14:

What does Ripple play in the Kava's ecosystem, since Ripple is like a top tier company and it’s impressive that you are partnered with them?

  • Answer: Ripple is an equity investor in Kava and a big supporter of our work in cross-chain settlement research and implementations. Ripple's XRP is a great asset in terms of users and liquidity that the Kava platform can use. In addition, Ripple's money service business customers are asking for a stable coin for remittances to avoid the currency heading risk that XRP presents. Ripple will not use USDC or other stable coins, but they are open to using USDX as it can be XRP-backed.

Q15:

Considering the connectivity, Libra could be the biggest competitor if KAVA leverages interchain for efficiency.

  • Answer: With regard to USDX, it is important to understand the users interacting with the Kava blockchain have no counterparty that people could go after for legal actions. A user getting a USDX loan has no counterparty. The software holds the collateral and creates the loan. The only laws that would apply are to the very users that are using the system.

Q16:

Wonder how KAVA will compete with the tech giants

  • Answer: Libra is running into extreme issues with the US Senate and regulators. Even the G7-G20 groups are worried. Its important to understand that Libra is effectively a permissioned system. Only big companies that law makers can go after are able to run nodes. In Kava, nodes can be run by anyway and our nodes are based all over the world. It's incredibly hard for a law maker to take down Kava because they would need to find and legally enforce hundreds of business in different jurisdictions to comply. We have an advantage in this way over the larger projects like Libra or Clayton.

Q17:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Technical risk is unavoidable for DeFi. Only time will tell if a system is trustworthy and its never 100% that it will not fail or be hacked. This is true with banks and other financial systems as well. I think for DeFi, the technical risk needs to be priced in to the expected returns to compensate the market. DeFi does have a better user experience - requiring no credit score, identity, or KYC over centralized solutions.
  • With our multi-collateral CDP system, even with it overcollateralized, people can get up to 3x leverage on assets. Take 100 USD in BTC, get a USDX loan for 66 USDX, then buy $66 BTC and do another loan - you can do this with a program to get 3x leverage with the same risk profile. This is enough for most people.
  • However, it will be possible once we have Kava's CDP platform to extend it into products that offer undercollateralized financial products. For example, if USER 1 + USER 2 use payment channels to lock up their USDX, they can use Kava's price feeds to place bets between each other using their locked assets. They can bet that for every $1 BTC/USD moves, the other party owes 3x. In this way we can even do 100x leverage or 1000x leverage and create very fun products for people to trade with. Importantly, even in places where margin trading is regulated and forbidden, Kava's platform will remain open access and available.

Q18:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Kava believes that stable coins should be backed not just by crypto or fiat, but any widely used, highly liquid asset. We think in the future the best stablecoin would be backed by a basket of very stable currencies that include crypto and fiat or whatever the market demands.

Q19:

Compound, maker they're trying to increase their size via the competitive interests rates. THough it shows good return in terms of growth rate, still it's for short-term. Wonder other than financial advantage, KAVA has more for the users' needs?

  • Answer: Robert, the CEO of Compound is an investor and advisor to Kava. We think what Compound does with money markets is amazing and hope to integrate when they support more than just Ethereum assets. Kava's advantage vs others is to provide basic DeFi services like returns on crypto and stable coins today when no other platform offers that. Many platforms support ETH, but no platform can support BTC, XRP, BNB, and ATOM in a decentralized way without requiring centralized custody of these assets.

Q20:

The vast majority of the cryptocurrency community's priorities is symbolic pricing. When prices rise, the community rejoices and grows. When they fall, many people begin to cast in a negative way. How will KAVA solve the negative problem when the price goes down? What is your plan to strengthen and develop the community to persuade more people to look at the product than the price?

  • Answer: We believe price is an important factor for faith in the market. One of Kava's key initiatives was selecting only long-term partners that are willing to work with kava for 2 years. That is why even after 6 months, 0 private investor or kava team tokens will be liquid on the market.
  • We believe not in fast pumps and then dumps that destroy faith, but rather we try and operate the best we can for long-term sustainable growth over time. It's always hard to control factors in the market, and some factors are out of our control such as BTC price correlations, etc - however, we treat this like a public company stock - we want long-term growth of Kava and try to make sure our whole community of Kava holders is aligned with that the best we can.

Q21:

Do you have any plans to attract non-crypto investors to Kava and how? What are the measures to increase awareness of kava in non-crypto space?

  • Answer: We are 100% focused on crypto, not the general market. We solve the problems of crypto traders and investors - not the average grandma who needs a payment solution. Kava is geared for decentralized leverage and hedging.

Q22:

Adoption is crucial for all projects and crypto companies, what strategy are you gonna use/follow or u are now following to get Kava adopted and used by many people all over the world?

Revenue is an important aspect for all projects in order to survive and keep the project/company up and running for long term, what are the ways that Kava generates profits/revenue and what is its revenue model?

  • Answer: We have already partnered with several large exchanges, long-term VCs, and large projects like Ripple and Cosmos. These are key ways for us to grow our community. As we build support for more assets, we plan to promote Kava's services to those new communities of traders.
  • Kava generates revenue as more people use the platform. As the platform is used, KAVA tokens are burned when users pay stability fees. This deflates the total supply of Kava and should in most cases give rise to the value of KAVA like a stock-buyback in the public markets.

Q23:

In order to be success in Loan project of Cryptocurrency, I think marketing is very important to make people using this service without any registration. What is main strategy for marketing?

  • Answer: Our main strategy is to build a great experience and offer products that are not available to communities with demand. Currently no DeFi products can serve BTC users for example. Centralized exchanges can, but nothing truly trustless. Kava's platform can finally give the vast audiences of BTC, BNB, and ATOM holders access to core DeFi services they cannot get on their own due to the smart contract limitations of those platforms.

Q24:

Currently, some project have policies for their ambassadors to create a contribution and attract recognition for the project! So the KAVA team plans to implement policies and incentives for KAVA ambassadors?

  • Answer: Yes, we will be creating a KAVA ambassador program and releasing that soon. Please follow our social media channels to learn about it in the coming weeks.

Q25:

Currently there are so many KAVA tokens sold on exchanges, why is this happening while KAVA is going to IEO on Binance? Are those KAVA codes fake or not?

  • Answer: For everyone's safety, please understand Kava tokens do not exist yet and they will only exist starting with the Binance IEO. Any other token listings or offerings of Kava are not supported by Kava Labs and I highly discourage you all from trying to get them there. It is most likely a big scam. Please only trust Binance for this.

Q26:

KAVA have two tokens, the first is called Kava - a governance and staking token; the second is called USDX - an algorithmically managed crypto-backed stable coin. What are the advantages of USDX compared to other stablecoins such as: USDT, USDC, TUSD, GUSD, ...?

  • Answer: USDX is one of the few stablecoins to be fully backed by crypto-assets. This means that we do not deal with fiat to back the value, and thus we don't have some of the issues when it comes to storing fiat funds with banks and custodians. This also makes our product fully digital and built for the future of crypto growth.

Q27:

As a CEO, does your background in Esports and Gaming industry help anything to your management and development of KAVA Labs?

  • Answer: Esports no. But having been a multi-time venture-backed foundeCEO and have gone through the start-up phase before has made creating and running a 2nd company easier. Right now Kava is still small, Fnatic had over 80 employees. It was at a larger scale. I would say developing software is much more than doing the hardware at fnaticgear.com

Q28:

Why did Kava choose to launch IEO on Binance and not other exchanges like: Kucoin, Houbi, Gate, ....?

  • Answer: Kava had a lot of interest from exchanges to partner with for IEO. We decided based on a lot of factors such as userbase, diverse exposure across multiple regions and countries, and an amazing team that provides so much insight into so many communities such as this one. Binance has been a tremendous partner and we also look forward to continuing our partnership far into the future.

Q29:

Currently if Search on coinmarketcap has 3 types of stablecoins bearing the USDX symbol (but these 3 stablecoins are no information). So, what will KAVA do to let users know that Kava's USDX is another stablecoin?

  • Answer: All these USDX have no volume or listings. We will be on Binance. I am not worried.

Q30:

In addition to the Token Allocation for Binance Launchpad, what is the Token Treasury in the Initial Circulating Supply?

  • Answer: This is controlled by Kava Labs, but with the big cash we have saved from fundraising, we see no reason why these tokens would be sold on the market. The treasury tokens are for use in grants, ecosystem growth initiatives, development, and other incentive programs to drive adoption of the platform.

Q31:

How you will compete with your competitors? Currently i don't see much but for future how you will maintain this consistency ? No doubt it is Great and Unique project, what is the main problem that #KAVA is currently facing?

  • Answer: Because our industry is just starting out, I don't like to think of them as our direct competitors. We are all working to grow the size of the pie rather than get a larger slice from a small pie. The one thing that we believe will allow us to stand apart is the community we are building. Being able to utilize our own community along with Cosmos and our other partners like Binance for the IEO, we have a strong footing to get a lot of early users onto our platform. Also, we are also focusing on growing Kava internationally particularly Asia. We hope to build our platform for an even larger userbase than just the west.

Q32:

How do you explain your project to a random person who has never heard of your project?

  • Answer: non-crypto = Kava is a lending platform for users of cryptocurrencies.
  • crypto = Kava is a cross-chain DeFi platform for loans and stablecoins backed by BTC, BNB, XRP, ATOM and other major cryptocurrencies.

Q33:

Will KAVA team have a plan on implementing DAO module on your platform since its efficiency on autonomy, decentralization and transparency?

  • Answer: All voting is already transparent on the Kava blockchain. We approved a number of proposals on our test net.

Q34:

how to use usdx token :only for your platform or you have plan to use usdx for payment ?

  • Answer: Payments is a nice use case, but demand for crypto payments is still small. We may choose to focus here later if demand for crypto payments increases. Currently it is quite small with the bulk of use remaining in trading and speculative use cases.

Q35:

Do you have plans to spread KAVA ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?

  • Answer: We are already across many continents - I don't think we are in antarctica yet. Africa might be light on nodes as well. I think as we grow on major exchanges like Binance, new node operators will get interested and help decentralize Kava further.

Q36:

Maker's CDP lending system is on top in this market and its Dominance is currently sitting on 64.90 % , how kava will compete will maker and compound?

  • Answer: adding assets like bitcoin which have more value and more users than ETH. It's a bigger market that Maker cannot compete with Kava in.

Q37:

Currently, the community is too concerned about the price. As prices rise, the community rejoice and grow, when falling, many people start throwing negatively. So what is KAVA's solution to getting people to focus on the project rather than the price of the token?

What is your plan to strengthen and grow the community to persuade more individuals to look at the product than the price?

  • Answer: We also share similar concerns as price and price direction is always a huge factor in the crypto industry. A lot of people of course are very short-term focused on flipping for bigger profits. One of the solutions, and what Kava has done, is to make sure that everything structured is for the long-term. So that makes sure that our investors and employees are all focused on long-term gains and growth. Locking vesting periods are part of that alignment. Another thing is that we at Kava are very transparent in our progress and development. We will be regularly posting updates within our own communities to allow our users and followers to keep up with everything we're up to. Please follow us or look at our github if you're interested!

Q38:

How did Kava get on Piexgo?

  • Answer: We did not work with Piexgo. We have not distributed tokens to any exchange other than Binance. I cannot speak to what is going on there, but I would be very wary of what is happening there.

Q39:

Why was the 1st round price so much lower than the current price

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.

Q40:

What is the treasury used for?

  • Answer: Kava's treasury is for ecosystem growth activities.
  • Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released. No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q41:

Everyone have heard about the KAVA token, and read about it. But it would be great to hear your explanation about it. What is the Kava token, what is it's utility? :)

  • Answer: The Kava token plays many roles. KAVA is the native staking token of the Kava blockchain and is used for securing the network. KAVA is delegated to validators, basically professional node operators that run highly-available servers to secure the Kava blockchain. The top 100 validators by weight of staked KAVA earn block rewards that range from 3-20% APR based on the total amount staked in the network. These rewards are split between the validators and the KAVA holders.
  • When users of the platform repay their loans, they must a stability fee (a percentage of the loan) in KAVA tokens. These tokens are burned by the system, effectively deflating the total supply overtime as more users use the CDP system.
  • KAVA is also the primary token used in governance of the platform. KAVA token holders can vote on key system parameter changes and upgrades such as what assets to support, how much USDX in total can be loaned by the system, what the debt-to-collateral ratio needs to be, the stability fees, etc. KAVA holders have a very important responsibility to govern the system well.
  • Lastly, Kava functions as a "Lender of Last Resort" meaning if USDX ever gets undercollateralized because the underlying asset prices drop suddenly and the system manages it poorly, KAVA is inflated in these emergency situations and used to purchase USDX off the market until USDX reaches a state of being over collateralized again. KAVA holders have incentive to only support the good high quality assets so risk of the system is managed responsibly.

Q42:

No matter how perfect and technically thought-out a DeFi protocol is, it cannot be completely protected from any unplanned situations (such as extreme market fluctuations, some legal issues, etc.)

Ecosystem members, in particular the validators on whom KAVA relies on fundamental decision-making rights, should be prepared in advance for any "critical" scenario. Considering that, unlike the same single-collateral MakerDAO, KAVA will be a multi-collateral CDP system, this point is probably even more relevant here.

In this regard, please answer the following question: Does KAVA have a clear risk management model or strategy and how decentralized is / will it be?

  • Answer: Simialar to other CDP systems and MakerDAO we do have a system freeze function where in cases of extreme issues, we can stop the auction mechanisms and return all collateral.

Q43:

Did you know that "Kava" is translated into Ukrainian like "Coffee"? I personally do love drinking coffee. I plunge into the fantasy world. Why did you name your project "Kava" What is the story behind it? What idea / fantasy did your project originate from, which inspired you to create it?

  • Answer: Kava is coffee to you.
  • Kava is Hippopotamus to Japanese.
  • Cava is a region in Spain
  • Kava is also a root that is used in tea which makes your mouth numb.
  • Kava is also crow in Hindi.
  • Kava last but not least is a DeFi platform launching on Binance :)
  • We liked the sound of Kava it was as simple as that. It doesn't have much meaning in the USA where I am from. But it's short sweet and when we were just starting, Kava.io was available for a reasonable price

Q44:

What incentives does a lender get if a person chooses to pay with KAVA? Is there a discount on interest rates on the loan amount if you pay with KAVA? Do I have to pass the KYC procedure to apply for a small loan?

  • Answer: There is no KYC for Kava. Its an open blockchain software platform where anyone with a computer can connect to it and use it.

Q45:

Let's say, I decided to bond my cryptocurrency and got USDX stable coins. For now, it`s an unknown stable coin (let's be honest). Do you plan to add USDX to other famous exchanges? Also, you have spoken about the USDX staking and that the percentage would be higher than for other stable coins. Please be so kind to tell us what is the average annual interest rate and what are the conditions of staking?

  • Answer: Yes we have several large exchanges willing to support USDX from the start. Binance/Binance-DEX is one you should all know ;)
  • The average annual rates for USDX will depend on market conditions. The rate is actually provided by the CDP fees users pay. The system reallocates a portion of those fees to USDX users. In times when USDX use needs to grow, the rates will be higher to incentivize use. When demand is strong, we can reduce the rates.

Q46:

Why should i use and choose Kava's loan if i can use the similar margin trade on Binance?

  • Answer: If margin is available to you and you trust the exchange then you should do whatever is cheaper. For a US citizen and others, margin is often not available and if it is, only for a few asset types as collateral. Kava aims to address this and offer this to everyone.

Q47:

The IEO price is $ 0.46 while the price of the first private sale is $ 0.075. Don't you think that such price gap can negatively affect the liquidity of the token and take away the desire to buy a token on the exchange?

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.
  • TLDR - I think KAVA is undervalued and the liquid supply of tokens is primarily from the IEO so its a safer bet than other IEOs. If the price drops, it will be from the overall market conditions or fellow IEO users not due private sale investors or team sell-offs.

Q48:

Can you introduce some information abouts KAVA Deflationary Fee Structure? With the burning mechanism, does it mean KAVA will never reach its max supply?

  • Answer: When loans are repaid, users pay a fee in Kava. This is burned. However, Kava does not have a max supply. It has a starting supply of 100M. It inflates for block rewards 3-20% APR AND it inflates when the system is at risk of under collateralization. At this time, more Kava is minted and used to purchase USDX off the market until it reaches full collateralization again.
  • TLDR: If things go well, and governance is good, Kava deflates and hopefully appreciates in value. If things go wrong, Kava holders get inflated.

Q49:

In your opinion what are advantage of decentralized finance over centralized?

  • Answer: One of the main advantages is not needing to pay the costs of regulation and compliance. Open financial software that is usable by anyone removes middle men fees and reduces the barrier for new entrants to enter and make new products. Also DeFI has an edge in terms of onboarding - to get a bank account or an exchange account you need to do lots of KYC and give private info. That takes time and is troublesome. With DeFi you just load up your funds and transact. Very fast user flows.

Q50:

Plan, KAVA how to raise capital? Kava is being supported by more than 100 business entities around the world, including major cryptocurrency investment funds like Ripple and Cosmos, so what did kava do to convince investors to join the project?

  • Answer: We have been doing crypto research and development for years. Ripple and Cosmos were partners before we even started this blockchain with Kava Labs. When we announced Kava the DeFi platform they knew us already to do good work and they liked the idea so they support us.
submitted by Kava_Mod to KavaUSDX [link] [comments]

Extract keys from old wallet.dat

Years back I installed bitcoin QT (I think) and bought around .1BTC. I spent most of it, but I think there's some left, I kept the wallet .dat after I deleted the client.
Is there any easy way to extract the keys so I can import them into exodus? I'm on Ubuntu, but I have access to a windows machine if necessary. Also I'd rather not download the whole blockchain.
submitted by doorstop_scraper to BitcoinBeginners [link] [comments]

How do I claim my Bitcoin Cash from Android Bitcoin Wallet.

I have some bitcoin in the Android Bitcoin Wallet. How can I get get Bitcoin Cash from it? Can I just export my wallet.dat file and then import it to a desktop Bitcoin Cash client?
I did some googling on the subject and it wasn't exactly clear. Any help would be appreciated!
submitted by vertisnow to btc [link] [comments]

Bull Bitcoin’s Dollar-Cost Averaging tool for Canadians: a detailed overview

Hello fellow Canadian Bitcoiners!
I'm Francis Pouliot, CEO and founder of Bull Bitcoin (previously known as Bitcoin Outlet) and Bylls.
I haven't been active on Reddit for a while but I thought I'd pop back here to let the community know about our new dollar-cost averaging feature, "Recurring Buy"
This post is a copy of my most recent medium article which you can read here if you want to see the screenshots. https://medium.com/bull-bitcoin/bull-bitcoins-dollar-cost-averaging-tool-for-canadians-the-right-time-to-buy-bitcoin-is-every-day-82a992ca22c1
Thanks in advance for any feedback and suggestions!
[Post starts here]
The Bull Bitcoin team is constantly trying to reduce the frictions ordinary people face when investing in Bitcoin and propose innovative features which ensure our users follow Bitcoin best practices and minimize their risks.
We are particularly excited and proud about our latest feature: an automated Bitcoin dollar-cost averaging tool which we dubbed “Recurring Buy”.
The Recurring Buy feature lets Bull Bitcoin users create an automated schedule that will buy Bitcoin every day using the funds in their account balance and send the Bitcoin directly to their Bitcoin wallet straight away.
We put a lot of thought in the implementation details and striking the right trade-offs for a simple and elegant solution. Our hope is that it will become a standard other Bitcoin exchanges will emulate for the benefit of their users. This standard will certainly evolve over time as we accumulate feedback and operational experience.
In this article, I cover:
The problem that we are trying to solve
Recurring Buy feature details, processes and instructions
The rationale (and tradeoffs) behind the main feature design choices
Bull Bitcoin is only available to Canadians, but non-Canadians that wish to have a look at how it works are welcome to make a Bull Bitcoin account and check out how it works here. You will be able to go through the process of create the schedule for testing purposes, but you wont be able to fund your account and actually purchase Bitcoin.
What problems does Dollar-Cost Averaging solve?
The most common concern of Bitcoin investors is, not surprisingly, “when is the right time to buy Bitcoin?”. Bitcoin is indeed a very volatile asset. A quick glance at a Bitcoin price chart shows there are without a doubt “worse times” and “better times” to invest in Bitcoin. But is that the same as the “right” time?
Gurus, analysts and journalists continuously offer their theories explaining what affects the Bitcoin price, supported by fancy trading charts and geopolitical analysis, further reinforcing the false notion that it is possible to predict the price of Bitcoin.
Newbies are constantly bombarded with mainstream media headlines of spectacular gains and devastating losses. For some, this grows into an irresistible temptation to get rich quick. Others become crippled with the fear of becoming “the sucker” on which early adopters dump their bags.
Veterans are haunted by past Bitcoin purchases which were quickly followed by a crash in the price. “I should have waited to buy the dip…”
Many Bitcoin veterans and long-term investors often shrug off the question of when is the right time to buy with the philosophy: “just hodl”. But even those holding until their death will recognize that buying more Bitcoin for the same price is a better outcome.
Given the very high daily volatility of Bitcoin, a hodler can find himself in many years having significantly less wealth just because he once bought Bitcoin on a Monday instead of a Wednesday. His options are either to leave it up to chance or make an attempt to “time the market” and “buy the dip”, which can turn into a stressful trading obsession, irrational decisions (which have a negative impact on budget, income and expenses) and severe psychological trauma. In addition, trying to “buy the dip” is often synonymous to keeping large amounts of fiat on an exchange to be ready for “when the time comes”.
There must be a better way.
Bitcoin investors should be rewarded for having understood Bitcoin’s long-term value proposition early on, for having taken the risk to invest accordingly and for having followed best practices. Not for being lucky.
Overview of features and rules
In this section I go into every detail of the Recurring Buy feature. In the following section, I focus on explaining why we chose this particular user experience.
The user first decides his target investment amount. Ideally, this is a monthly budget or yearly budget he allocates to investing in Bitcoin based on his projected income and expenses.
The user then chooses either the duration of the Recurring Buy schedule or the daily purchase amount. The longer the better.
The frequency is each day and cannot be modified.
The user must submit a Bitcoin address before activating a Recurring Buy schedule. By default, every transaction will be sent to that Bitcoin address. It’s the fallback address in case they don’t provide multiple addresses later.
Once the user has filled the form with target amount, the duration and the Bitcoin address, he can activate the Recurring Buy Schedule.
The user is not required to already have funds in his account balance to activate the schedule.
We will randomly select a time of day at which his transaction will be processed (every hour, so 24 possible times). If the user insists on another time of day, he can cancel his Recurring Buy schedule and try again.


The Recurring Buy feature as displayed on bullbitcoin.com/recurring-buys
The schedule is then displayed to the user, showing the time and date at which transactions that will take place in the future. The user will be able to see how long his current balance will last.
He can follow the progress of the dollar-cost averaging schedule, monitor in real time his average acquisition cost, and audit each transaction individually.
At this point, the user can and should change the Bitcoin address of his next transactions to avoid address re-use. Address re-use is not forbidden, but it is highly discouraged.
After having modified the Bitcoin addresses, there is nothing left for the user to do except watch the bitcoins appear in his Bitcoin wallet every day!
The Bitcoins are sent right away at the time of purchase.
Bitcoin transactions using the Recurring Buy feature will have the lowest possible Bitcoin network transaction fee to avoid creating upwards pressure on the fee market impact other network users.


What users see after first activating a schedule
The Recurring Buy schedule will be cancelled automatically at the time of the next purchase if the balance is insufficient. He can add more funds to his balance whenever he wants.
The Recurring Buy schedule will continue until the target amount is reached or until the account balance runs out.
The user can cancel his Recurring Buy schedule whenever he wants.
If the user wants to change the amount or duration of the schedule, he can simply cancel his current schedule and create a new one.
Each schedule has a unique identifier so that users can keep track of various schedules they perform over time.
Once a schedule is completed, either fully or partially, a summary will be provided which shows the number of transactions completed, the average acquisition cost, the total amount of Bitcoin purchase and the total amount of fiat spent. Useful for accounting!


A partially completed Recurring Buy schedule cancelled after 9 days due to insufficient funds
Though process in making our design choices
Recurring Bitcoin Purchases vs. Recurring Payment/Funding
The first and most important design choice was to separate the processes of funding the account balance with fiat (the payment) from the process of buying Bitcoin (the purchase). Users do not need to make a bank transaction every time they do a Bitcoin purchase. They first fund their account manually on their own terms, and the recurring purchases are debited from their pre-funded account balance.
Another approach would have been to automatically withdraw fiat from the user’s bank account (e.g. a direct debit or subscription billing) for each transaction (like our friends at Amber) or to instruct the user to set-up recurring payments to Bull Bitcoin from their bank account (like our friends at Bittr). The downside of these strategies is that they require numerous bank transactions which increases transaction fees and the likelihood of triggering fraud and compliance flags at the user’s bank. However, this does remove the user’s need to keep larger amounts of fiat on the exchange and reduces the friction of having to make manual bank payments.
Bull Bitcoin is currently working on a separate “Recurring Funding” feature that will automatically debit fiat from the user’s bank accounts using a separate recurring schedule with a minimum frequency of once a week, with a target of once every two weeks or once a month to match the user’s income frequency. This can, and will, be used in combination from the “Recurring Buy” feature, but both can be used separately.
The ultimate experience that we wish to achieve is that users will automatically set aside, each paycheck (two weeks), a small budget to invest in Bitcoin using the “Recurring Funding” feature which is sufficient to refill their account balance for the next two weeks of daily recurring purchases.
Frequency of transactions
The second important decision was about customizing the frequency of the schedule. We decided to make it “each day” only. This is specifically to ensure users have a large enough sample size and remain consistent which are the two key components to a successful dollar-cost averaging strategy.
A higher amount of recurring transactions (larger sample size) will result in the user’s average acquisition being closer to the actual average Bitcoin price over that period of time. Weekly or monthly recurring purchases can provide the same effectiveness if they are performed over a duration of time which is 7x longer (weekly) or 30x longer (monthly).
It is our belief that the longer the duration of the schedule, the more likely the user is to cancel the recurring buy schedule in order to “buy the dip”. Dollar-cost averaging is boring, and watching sats appear in the wallet every day is a good way to reduce the temptation of breaking the consistency.
We do not force this on users: they can still cancel the schedule if they want and go all-in. We consider it more of a gentle nudge in the right direction.
Frequency of withdrawals (one purchase = one bitcoin transaction)
This is one of the most interesting design choices because it is a trade-off between scalability (costs), privacy and custody. Ultimately, we decided that trust-minimization (no custody) and privacy were the most important at the expense of long-term scalability and costs.
Realistically, Bitcoin network fees are currently low and we expect them to remain low for the near future, although they will certainly increase massively over the long-term. One of the ways we mitigated this problem was to select the smallest possible transaction fee for transactions done in the context of Recurring Buy, separate from regular transaction fees on regular Bitcoin purchases (which, at Bull Bitcoin, are very generous).
Note: users must merge their UTXOs periodically to avoid being stuck with a large amount of small UTXOs in the future when fees become more expensive. This is what makes me most uncomfortable about our solution. I hope to also solve this problem, but it is ultimately something Bitcoin wallets need to address as well. Perhaps an automated tool in Bitcoin wallets which merges UTXOs periodically when the fees are low? Food for thought.
When transaction fees and scalability becomes a problem for us, it will have become a problem for all other small payments on the Bitcoin network, and we will use whatever solution is most appropriate at that time.
It is possible that Lightning Network ends up being the scalability solution, although currently it is logistically very difficult to perform automated payouts to users using Lightning, particularly recurring payouts, which require users to create Bolt11 invoices and to convince other peers in the network to open channels and fund channels with them for inbound capacity.
These are the general trade-offs:
Send a Bitcoin transaction for every purchase (what we do) - Most expensive for the exchange - Most expensive for the user (many UTXOs) - Increases Bitcoin Network UTXOs set - Inefficient usage of block space - Most private - Zero custody risk
Keep custody of the Bitcoin until the schedule is over or when the user requests a withdrawal (what Coinbase does) - No additional costs -No blockchain bloating - Same level of privacy - High custody risk
Batch user transactions together at fixed intervals (e.g. every day) - Slightly lower transaction costs for the exchange - Same costs for the user - Slightly more efficient use of block space - Same level of UTXO set bloating - Much lower level of privacy - Slightly higher custody risk
Single address vs multiple addresses vs HD keys (xpubs)
The final decision we had to make was preventing address re-use and allowing users to provide an HD key (xpub) rather than a Bitcoin address.
Address re-use generally decreases privacy because it becomes possible for third-party blockchain snoops to figure out that multiple Bitcoin transactions are going to the same user. But we must also consider that even transactions are sent to multiple addresses, particularly if they are small amounts, it is highly likely that the user will “merge” the coins into a single transaction when spending from his wallet. It is always possible for users to prevent this using Coinjoin, in which there is a large privacy gain in not re-using addresses compared to using a single address.
It is important to note that this does not decrease privacy compared to regular Bitcoin purchases on Bull Bitcoin outside of “Recurring Buy”. Whether a user has one transaction of $1000 going to a Bitcoin address or 10x$100 going that same Bitcoin address doesn’t reveal any new information about the user other than the fact he is likely using a dollar-cost averaging mechanism. It is rather a missed opportunity to gain more privacy.
Another smaller decision was whether or not we should ask the user to provide all his addresses upfront before being able to activate the schedule, which would completely remove the possibility of address re-use. We ultimately decided that because this process can take a very long time (imagine doing Recurring Buy every day for 365 days) it is better to let the user do this at his own pace, particularly because he may eventually change his Bitcoin wallet and forget to change the addresses in the schedule.
There are also various legitimate use-cases where users have no choice but to re-use the same address . A discussion for another day!
Asking the user to provide an XPUB is a great solution to address re-use. The exchange must dynamically derive a new Bitcoin address for the user at each transaction, which is not really a technical challenge. As far as I can tell, Bittr is the only Bitcoin exchange exchange which has implemented this technique. Kudos!
It is however important that the user doesn’t reuse this XPUB for anything else, otherwise the exchange can track his entire wallet balance and transaction history.
It is worth noting that not all wallets support HD keys or have HD keys by default (e.g. Bitcoin Core). So it is imperative that we offer the option to give Bitcoin addresses. We believe there is a lot of potential to create wallet coordination mechanisms between senders and recipients which would make this process a lot more streamlined.
In the future, we will certainly allow users to submit an XPUB instead of having to manually input a different address. But for now, we wanted to reduce the complexity to a minimum.
Conclusion: personal thoughts
I have a somewhat unique perspective on Bitcoin users due to the fact that I worked at the Bitcoin Embassy for almost 4 years. During this time, I had the opportunity to discuss face-to-face with thousands of Bitcoin investors. One of my favourite anecdotes is a nocoiner showing up at our office in December 2013 with a bag full of cash attempting to buy Bitcoin, “I know how to read a chart”, furious after being turned away. Many people who went “all-in” for short-term gains (usually altcoins) would show up to the Bitcoin Embassy office months later with heart-breaking stories.
This isn’t what I signed up for. My goal is to help people opt-out of fiat and, ultimately, to destroy the fiat currency system entirely.
This instilled in me a deep-rooted concern for gambling addiction and strong aversion to “trading”. I do not believe that Bitcoin exchanges should blindly follow “what the market dictates”. More often than not, what dictates the market is bad habits users formed because of the other Bitcoin services they used in the past, what other people are used to, and what feels familiar. Running a Bitcoin company should be inseparable from educating users on the best practices, and embedding these best practices into the user experience is the best way for them to learn.
Another important anecdote which motivated me to build a dollar-cost averaging tool is a person very close to me that had made the decision to buy Bitcoin, but was so stressed out about when was the right time to buy that they ended up not buying Bitcoin for a whole 6 months after funding their Bull Bitcoin account. That person eventually gave up and ultimately invested a large amount all at once. In hindsight, it turned out to be one of the worst possible times to invest in Bitcoin during that year.
Investing in Bitcoin can, and should be, a positive and rewarding experience.
Buying Bitcoin every day is the right strategy, but it is not necessarily lead to the best outcome.
The reality is that the best time to buy Bitcoin is at when market hits rock bottom (obviously). Sometimes, the upside from buying the dip can be much bigger than the risk (e.g. when the price dropped below $200 in 2015). But these are exceptions rather than the rule. And the cost of chasing dips is very high: stress, investing time and mental energy, and the very real psychological trauma which results from making bad trading decisions. Ultimately, it’s better to do the right thing than being lucky, but it’s not always a bad idea to cheat on your dollar-cost averaging from time to time if you can live with the costs and consequences.
Yours truly,
Francis
submitted by FrancisPouliot to BitcoinCA [link] [comments]

Please Advise: How to restore old (2013) wallet and get back in this rodeo?

Last time I traded BTC was Dec 2013, when my Mt Gox account got hacked - all USD funds were used to buy BTC, and those coins were then transferred to an unknown attacker. This happened a few months before their complete meltdown however, so I don't believe I was included in the bankruptcy lawsuit (though I did apply). Oh well, a few hundred bucks gone :'(
 
I quit running my low-payout miner shortly thereafter - basically took the BTC I had left, put it in storage, and forgot about it, thinking "the rest might be worth something, someday".
Over these last couple months, I started looking into how to access it and possibly liquidate. Now, I come to you fine redditors, please help me to not get burned again.
 
So what I have is an old wallet.dat or two, with anywhere from 0.05 to 0.5 btc in it, and all the software I used at the time. Not at home rn but I believe I used Bitcoin-Qt v0.5. I have tried simply running that again, but it never fully syncs with the network. I have tried on multiple PCs and after about a week of sync time, the client crashes more and more often, until it crashes immediately on startup every time. Afaict that client no longer works to sync with the blockchain.
I have also read about the split that created bitcoin cash, and I figure if my coins can be split I'd be leaving money on the table to not pursue it. But idk if I can do that by just downloading the latest Bitcoin-Core and copying my wallet over, or if I need to take a more careful approach.
 
So here are the questions I haven't been able to confidently answer myself:
1) Am I correct in my assumption that I need an up-to-date blockchain to open (decrypt with password, view balances) a wallet at all?
2) What is the safest way to open this old wallet, allowing me to have my BTC, and BCH if possible?
3) I may have forgotten my password and need to batch-test many combinations of ~10 keywords, so I need about (10!) guesses. Can I do this from a command line / script or would I need a different utility?
4) About how long would the turnaround time be - after getting my wallet sync'd up to date w/ blockchain - to create an account somewhere and sell the coins? (All using USA banks/providers since I suspect it will be safer this way.)
(Bonus Question) Are graphics cards still usable for mining? I basically pay a fixed cost for electric no matter what my usage is, so I figure if I can I might as well do it.
 
Thank you so much for any help you can provide! I hope to be back in this market with you all very soon!
submitted by CStheCS to Bitcoin [link] [comments]

Best way to claim Bcash from old Core wallet.dat?

I have a core wallet.dat that had a BTC balance at the time of the Bcash fork. I have since transfered out the BTC balance and would now like to claim the same in BCash. Can anyone suggest the best way of doing this ? I've looked at some of the BCash wallet apps but I don't know which to trust. Most of them are very new and not extensively tested, which is concerning. Any advice would be appreciated
submitted by po00on to BitcoinAirdrops [link] [comments]

HUOBI – THE EXCHANGE BUILT FOR THE FUTURE - A HONEST REVIEW BY AN USER

HUOBI – THE EXCHANGE BUILT FOR THE FUTURE - A HONEST REVIEW BY AN USER
HUOBI – THE EXCHANGE BUILT FOR THE FUTURE
A HONEST REVIEW BY AN USER
https://preview.redd.it/3il28cidztt41.png?width=313&format=png&auto=webp&s=b7c7ccafde202532977305d9be044ba9c7f88e42
Leon Li founded Huobi in 2013, a former computer engineer at Oracle. Huobi Global is a digital asset and crypto currency exchange headquartered in Singapore. Huobi also has local exchanges in South Korea, Japan, and through its strategic partner, the United States.
The Huobi Group, the parent company of Huobi Global, has received venture capital finance from prominent Beijing based ZhenFund and American VC firm Sequoia Capital.
The Huobi Global exchange serves traders in 130 countries. Through Huobi Global, traders can access almost 200 crypto and stable coin assets. Huobi users can download trading clients on both mobile and desktop devices.
Huobi has traded over US$1.2 trillion in digital assets, and at one time it was the world’s leading exchange by volume, capturing 50% of all global trading volume.
In terms of security, Huobi has adopted a decentralized exchange structure, which helps to resist DDOS attacks. However, Huobi has implemented the ‘Huobi Security Reserve, in which Huobi has set aside 20,000 BTC reserved for users who have lost funds either due to hacks, or exchange failures.
Ease of use
The UI is clean, user-friendly and perfectly designed with all the basic requirements for a crypto-trader. The charting software is provided by Tradingview, which is exactly what you want.
https://preview.redd.it/nm2fr51mztt41.png?width=602&format=png&auto=webp&s=16c406a4eec33a1c28d2bcb5330bee6b043fc359
Huobi OTC
Huobi’s OTC exchange is a good initiative. The Huobi OTC exchange allows users to trade funds peer-to-peer which doesn’t affect the market price of the underlying asset. The OTC trading-desk, with transfer options like bank-transfers, PayPal, WU, Paytm, UPI, IMPS, Alipay & many others, is an easy to use payment gateway. With a secure exchange to diversify your investment, right next door, too with effective list of Buy and Sell options for BTC, ETH, USDT and EOS coins.
https://preview.redd.it/66c2zr2oztt41.png?width=602&format=png&auto=webp&s=41899be5c02791f9f5323b957ad13d092b5275f7
Huobi Lite
Huobi Lite App provides a convenient channel for everyone to buy cryptocurrencies at the best prices. Tailor-made for beginners, traders, and users.
We can download the App directly from the respective iOS Store or Google Play Store. Alternatively, we may access via the link: https://lite.huobi.com/download
https://preview.redd.it/tw8p8cmpztt41.png?width=260&format=png&auto=webp&s=88f4d4d45b8b287d452f02547adfd187f2b09977
On Huobi Lite, you can buy Bitcoin with your local currencies, credit card, or exchange cryptocurrencies tokens, with zero fees at competitive prices. Huobi Lite currently supports MYR / HKD / VND / USD (Credit Card deposit only), with more to come in the future.
Huobi Derivative Market (Huobi DM)
Margin Trading
Huobi Global launched Huobi Derivative Market (Huobi DM) exchange to selected countries. It provides margin trading, with very low daily loan interest rates of 0.1%. Margin Trading allows users to increase their investment exposure given a limited base principal to enjoy multiple returns.
3-Steps taken in Margin Trading:
  1. Request for Loan
  2. Trade on Margin (Long/Short)
  3. Repay Margin Loan and Interest
With the introduction of Cross Margin on Huobi, users will have to explicitly input the respective margin type before executing the above 3 steps. Balances on the Cross Margin balance does not show on the Isolated Margin balance.
Huobi Futures
Huobi Futures is a kind of digital currency derivatives. Users can make a profit from the rising/falling of digital currencies prices by going long or selling short based on their own judgment.
The Huobi Futures Contract adopts spread delivery. When the contract expires, all open positions will be closed at the index-based last-hour arithmetic average price, instead of physical delivery.
BTC/ETH/EOS/LTC/XRP/BCH/TRX/BSV/ETC Contracts are available on Huobi DM. Contracts are priced in USD, with corresponding digital currency (BTC/ETH/EOS/LTC/XRP/BCH/TRX respectively) as margin to open positions, and PnL is also settled in corresponding digital currency.
Weekly, bi-weekly and quarterly contracts are available in Huobi DM. Weekly contracts will be settled on imminent Friday; Bi-weekly contracts will be settled on next Friday; Quarterly contracts will be settled on the last Friday of March, June, September and December.
Choices of leverage: 1x, 5x, 10x, 20x
Huobi Perpetual Swap
Huobi introduced Perpetual Swaps on March 27, 2020 (GMT+8). Huobi Perpetual swap is a kind of digital currency derivatives. Users can make a profit from the rising/falling of digital currencies prices by going long or selling short based on their own judgment. Similar to a margin spot market, its price is close to the price of the underlying reference index. The main mechanism for anchoring spot prices is the cost of funds. Perpetual swap have no delivery date. Users can always hold it. Perpetual swap are settled every 8 hours. After each settlement, the realized profit/loss and unrealized profits/losses are transferred to the user account balance.
Partial Liquidation
Huobi Futures adopted partial liquidation to help position holders reduce liquidation risk. Users with large positions and high leverage bear high risk. Huobi Futures releases partial liquidation with the aim to lower possible losses due to high price volatility thus giving users better trading experience.
Under partial liquidation mechanism, when liquidation is triggered, instead of liquidating all positions at once, the system reduces positions gradually till a grade whose margin ratio is great than 0. Full liquidation will only occur when the margin ratio of tier 1 upper limit net position still fails to be great than 0.
Trading Fees
The Huobi exchange has a fair trading fee structure. Every asset traded via Huobi Global is subject to a 0.2% trade fee, for both market makers and takers. Further, Huobi Global has introduced a tiered fee system which offers competitively lower fees for high volume traders. VIP membership gives access to various fee reductions and other benefits.
Huobi Prime
Huobi Prime, the Launchpad platform which we can call Direct Premium Offering (DPO), does share some similarities with initial exchange offerings (IEO) like Binance Launchpad, but it is unique as it is not a fundraising platform, and any coins purchased on the platform are immediately deposited into the users’ wallets and tradable on Huobi Global. Huobi Prime offers its users early access to the coins of premium projects, which can be bought using its native crypto currency, the Huobi Token. To avoid dumping, Huobi has implemented an innovative idea of a period of tiered price limits.
Huobi FastTrack
Huobit FastTrack, rebranded from Huobi Prime Lite, is a new listing model. Wherein, all participants will have a direct say in what projects are listed on Huobi Global and when. In addition, winning voters will get access to quality tokens at below market rates. The program also provides much needed exposure and a straightforward listing process.
Huobi Wallet
https://preview.redd.it/6iux5zotztt41.png?width=602&format=png&auto=webp&s=fef6f6d6813ec82a70df28b160fe18ba2237daba
Huobi Wallet is the official mobile wallet of Huobi Group, a leading global digital asset financial service provider. It is a multi-chain asset management tool that provides native support for various types of blockchains and all of the ERC20 tokens. So far Huobi Wallet supports BTC, BCH, LTC, ETH, ETC, USDT and all ERC20 tokens.
Huobi wallet is the first wallet to expand support to cover seven stablecoins including, Paxos Standard Token (PAX), TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), Dai (DAI), Stasis EURS (EURS), and Tether (USDT).
Huobi Wallet is built based on the core principle of security-first. The wallet gives back its users, complete control of their private keys. In simple terms, You own your assets. The wallet is backed up with mnemonics, so in future when you want to import your wallet, it’s just simple few clicks.
Currently, the wallet is compatible with both iOS and Android devices and you can download both from here (www.huobiwallet.com/en)
Huobi Chain
Huobi launched Huobi Chain’s Testnet (“the Testnet”) on February 29th 2020 (GMT+8). Huobi Chain is China’s autonomous cum compliant-ready blockchain platform, and is committed to providing a global, blockchain-based, digital asset infrastructure. Huobi Chain is committed to providing a high-performance, blockchain-based, global digital asset infrastructure. Once the Mainnet goes live, Huobi Chain will announce HT- related events: e.g. pledge HT to be a Super Node, etc.
HT Lock & Mine (Huobi Pool)
Huobi launched HT Lock and Mine operations on 25th July 2019 (GMT+8). Users who lock HT tokens receive daily HPT rewards. Specific reward quantity will depend on lock option period selected, quantity locked and Huobi Pool’ s mining hash power and daily float.
DPOS Rewards: All Huobi Global users with more than 1,000HPT holdings in their HBG account will receive DPOS mining rewards. Currently, token reward received under DPOS mining include EOS, TRX, CMT, ONG, IOST, ATOM, IRIS, LAMB。
Huobi Support
Users of the Huobi exchange can access 24/7 live chat and Huobi help center. Those facing issues can also open a support ticket to have their issue resolved by an expert representative immediately.
The Huobi Group has a very active YouTube channel, featuring Huobi Talk, where it posts user tutorials, detailed guides, and crypto currency information for traders.
What I like the most about Huobi
  1. An established platform that’s been operating since 2013, which is a long time in the crypto world.
  2. Highly secured with decentralized exchange structure, which helps to resist DDOS attacks. Huobi has never suffered a large hack.
  3. Huobi Security Reserve of 20000 BTC to compensate users’ loss of funds.
  4. Dedicated, fast and 24/7 customer support.
  5. Regulated in major jurisdictions.
  6. User interface is very smooth and clean.
  7. Over 230 crypto assets are available.
  8. User education program is good initiative.
  9. Separate trading desk for institution and firm size users.
  10. Very transparent about its operations, listings and projects.
  11. Huobi Wallet is secured and very easy to operate.
  12. Huobi mobile app is smooth and very easy to use.
  13. Competitive fees.
  14. Has taken serious steps towards avoiding wash trading.
  15. Impressive array of trading pairs.
  16. Has given more important on community participation, like voting for listing, mining pool, Huobi Knights program etc.
  17. I like Huobi Prime because of following reasons: -
(a) Purchased tokens are immediately deposited into user’s accounts,
(b) As projects launch exclusively through Huobi Prime from day one, all users get assets at the best price.
(c) Tiered price limits on the platform protect both investors and projects from immediate dump.
  1. Huobi screen projects and launches which are only the best. I don’t have to worry about poor or scammy projects.
  2. Burning of HT is a great move and it would benefit long term holders.
Join Huobi by click here: https://www.huobi.com/en-us/topic/invited/?invite_code=7zkb4
Visit
Huobi Global: https://www.huobi.com/en-us/
Join Indian Group: https://t.me/huobiglobalindia
Global telegram Channel: https://t.me/huobiglobalofficial
Join Huobi by click here: https://www.huobi.com/en-us/topic/invited/?invite_code=7zkb4
submitted by VinayTM to HuobiGlobal [link] [comments]

Multicurrency Wallet DEXs will be the standard of the 2020s. The present status quo is an absolute joke.

Before I begin, I'd like to ask you a question. Why are so many of the most established people in crypto among the most closed-minded when it comes to talking about new ideas? Why is the crypto space more concerned with what a clown from Australia is lying about or petty figurehead drama than the hard work and effort of the good and lesser-known among them?
Let's talk about altcoins for a minute. It'd be a very tough job to count every single alt that's come in on a hypetrain and died in obscurity. If I were to guess that 95% of them failed, I wouldn't be surprised to hear that it was a conservative estimate and that the number is even higher. Indeed, it would be much easier to count the exceptions to the rule. To name a few - ETH, LTC, XMR, and (quite amusingly) DOGE.
Should the stubbornly high failure rate of alts justify writing them all off as garbage? Businesses have an incredibly high failure rate too. It would be foolish - outright silly, even - to say that the grocery store is a fraud and a scam because the aqua-saxophone jazzercise laundromat failed to live up to it's expectations. Maybe not, because this is exactly the way the crypto space is right now.
That line of thinking is the de facto standard in the cryptocurrency space right now - "guilty (of being a shitcoin) until proven innocent (by some central authority figure or big exchange who can validate it for us so we don't have to do it ourselves)". To be fair, there was an aggressive torrent of these "goofy laundromats" in 2017 and people are either hungover or shell-shocked from all the broken pipedreams and costly fiction. You'd think that the titans of this industry, particularly those who care more about the cypherpunk essence of Bitcoin than how rich they can get off of it, would be more receptive to the legitimate projects that are working in obscurity to harden the crypto space and it's infrastructure. Unfortunately, that does not seem to be the case. All too many seem to think that everything that needed to be built has already been built.
Considering that all the Bitcoin titans are somewhat newly-minted, the irony is remarkable. No one used to take Bitcoin seriously. The further back in time you go, the more it took lonely effort and independent research to truly grasp its ideas. This is still the case today. Most have heard of it but have no idea what it is or why it's important. Many who are fervently in PMs or traditional investments like stocks and bonds continue to deride it, even though it will go down as the best performing asset of the 2010s by far. Others are a little more aggressive and, despite a lack of knowledge, call it anything from a scam to "rat poison squared". Like anything else, it's foolish to make bold claims atop little to no education.
You'd think that treatment would make Bitcoin maximalists do some reflecting. Instead, a sizable number of them decided to emulate the ones who beat up on Bitcoin when it was small and irrelevant. "All you need is Bitcoin. Everything else is trash. I know what I'm talking about because I bought the top of the 2013 bubble and I'm probably immune to future dumps for life".
Now let's talk about where cryptocurrency infrastructure falls short. Bitcoin still retains the same cypherpunk essence that it's always had. The same can be said for Bitcoin wallets. They're secure. They allow for anonymous transactions. They run on an immutable blockchain. There is no central authority between a key-holder and their funds. Enter the exchanges. In a way, they were a necessary evil. Without them, adoption would be severely throttled. With them, Bitcoin is compromised.
For many, the privacy and anonymity that BTC is supposed to offers has been tossed out. It was the only way it could be retrofitted into a tightly-controlled system that demands KYC. While this has helped to spread adoption, Bitcoin has become more and more traceable. Quite ironically, many of these same exchanges that adopted KYC policies to "ensure accountability from their customers" had no trouble exit scamming.
They come and go. The old one gets hacked, or it exit scams, or proves itself to be corrupt and suspicious. A new one comes. This time it will be different. Then the cycle repeats itself. Mt. Gox. Bitfinex. Polo. Bittrex. Binance. They all had their time in the Sun.
These exchanges are in many ways the antithesis of the cypherpunk manifesto - vulnerable honeypots directly controlled by a centralized figurehead. Unsurprisingly, they cause a lot of unneeded trouble and give Bitcoin a ton of bad publicity. Example:
Me: "What do you think of Bitcoin?"
Co-worker: "Didn't that thing get hacked last week?"
Me: "Bitcoin didn't, but a place where it was exchanged was."
Co-worker: "I don't trust it. It's only a matter of time til they find out how to type in some numbers to make more show up on a screen blah blah blah."
You've all likely met someone like this and brushed them off as closed-mined, but they're exactly the type of person this industry needs to convince to further adoption. It will be next to impossible to do so with the way things are right now.
In order for Bitcoin to survive, it needs exchanges that are built to the same code that it was. The solution, therefore, is to "port" the cypherpunk essence of Bitcoin to the exchanges. Immutability. Anonymity. Privacy. No central authority of figurehead.
With all that said, let's talk about DEXs. I started a thread on here a few months back when Binance announced that they were giving Americans the boot. I got a ton of answers. It shows that, among the hardcore at least, there is a desire to go in a new direction. Loopring, IDEX, and Bisq were among the more popular choices.
It's a step in the right direction. However, these DEXs are still rather inaccessible - especially to outsiders. Performance wise, they're on the slower side of things. Due to these setbacks, they suffer from low volume. This is where some recent developments in multicurrency wallets with embedded DEXs from lesser-known projects will come out of obscurity and catch everyone by surprise.
Among them - I'd like to mention Stakenet Wallet and KMD's Atomic DEX. Both of them, now seemingly weeks away from launch, will allow for atomic swaps between a wide variety of coins directly from a private wallet. Stakenet goes a step further by offering atomic swaps running atop Lightning Network.
Why does this matter? These two platforms will be to exchanges what the inception of Bitcoin was to currency. Finally, after almost 9 years, Bitcoin not only has an exchange that truly honors its essence, but it's starting to see healthy competition between them.
To elaborate further on why this is very important.. No KYC. No accounts. No sending Bitcoin to an exchange and waiting around for it to show up. No downloading multiple wallets. No exchange figureheads. No withdrawal freezes. In Stakenet's case, the decentralized MN network that runs it's DEX will also act as a massive LN payment processor (routing, watchtowers) that provides a ton of liquidity for it while allowing Bitcoin to scale. "Lightning swaps" will provide every LN-based coin the ability to be instantly swapped to purchase anything in BTC. Stakenet will also feature a DEX aggregator that will pool together the orderbooks of numerous DEXs into one easily-accessible spot, boosting traffic to the many DEXs that are harder to reach and furthering their adoption along. Simply download a wallet like you would any other app and you're ready to get started. It's so much easier and more convenient. I don't see how or why CEXs and all their ilk (figurehead drama, geoblocking, exchange hacks, wash trading, currency manipulation, exit scams, etc) could remain relevant in the environment to come.
Regulation will not save us. Decentralization will. As long as one person learned something from this, it was all worth it. I welcome the opinions of everyone in this space.
submitted by ketchuma to CryptoCurrency [link] [comments]

Lost password, have wallet.dat and hash, is hashcat possible?

Hello- I made a wallet.dat file with Dash Core 12 but I can't remember the password. I do have the wallet.dat file and the hash dump: (parts between periods have been edited):
$bitcoin$64$...64-hex-chars...$16$...16-hex-chars...$190170$2$00$2$00 
I've read https://github.com/gurnec/btcrecoveblob/masteTUTORIAL.md#btcrecover-tutorial but I'd like to speed things up. I can't get the GPU to work with btcrecover. I have hashcat but hashcat won't accept the file since it's expecting a hash starting with $bitcoin$96$. Is there a way to "trick" hashcat into using this hash anyway?
Or, is there a way to manipulate the 64 hex chars and/or the 16 hex chars so that I can recover my private key and/or password? I'm semi-proficient in Python and Bash, if that would help.
submitted by solarvan4u to dashpay [link] [comments]

Claiming Bitcoin Cash from Bitcoin Core?

I had a few BTC in a Bitcoin Core Wallet pre Aug 1. After I downloaded Bitcoin Classic wallet, thinking that would give me the free BCH, but it just overwrote my Core wallet and is now holding the few BTC I had in the Core wallet. I'm wondering if I can still split them and how? Thanks for any help.
submitted by PastorBrian to BitcoinBeginners [link] [comments]

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Cracking Bitcoin Private Keys in Seconds - YouTube

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