Topic: Bitcoin panning another way to get Bitcoin? thoughts? (Read 195 times)
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As figment puts it. Question of accessible wallets and what is the percentage (just like a lottery, here you could improve your odds though targeting certain era hard drives.) Also as your probably aware a number of recovery options that are not accessible to the average person. Finding a data recovery specialists who will work for Bitcoin could be effective.
Cost/risk ratio of "wild goose ratio" I like that indeed that link was partly inspiration. However id say it it was perceived risk. There were plenty of prospectors certain they strike it rich on the gold rush. Which led to lots of rich shovel sellers, even when no one found gold.
In guessing Bitcoin is hitting eternal September now the average user is probably a speculator look at all these scams around bitcoin/ico. So I thought a lot of people would be into this goose chase. Obviously the more people the greater the odds of someone succeeding.
Cost/risk ratio of "wild goose ratio" I like that indeed that link was partly inspiration. However id say it it was perceived risk. There were plenty of prospectors certain they strike it rich on the gold rush. Which led to lots of rich shovel sellers, even when no one found gold.
In guessing Bitcoin is hitting eternal September now the average user is probably a speculator look at all these scams around bitcoin/ico. So I thought a lot of people would be into this goose chase. Obviously the more people the greater the odds of someone succeeding.
Ok I will try and rephrase.
It is really easy to identify if a hard drive has a wallet on it or not. You just use find o Linux or search on windows. Admittedly recovering is a bit harder (In practise you'd set up a new wallet and transfer them out) just like how you would for recovery.
It is really easy to identify if a hard drive has a wallet on it or not. You just use find o Linux or search on windows. Admittedly recovering is a bit harder (In practise you'd set up a new wallet and transfer them out) just like how you would for recovery.
it depends. you may be able to find wallet files, but what percentage of them will be unencrypted? that adds another layer of risk here.
the earliest wallets are less likely to be password-protected, but they are also the most likely to be inaccessible due to data corruption. years of storage under less-than-optimal conditions (and outright exposure to the elements) can easily foil these plans.
If people would do it or not is an interesting question, the odds suggest it would be a bit like buying a lottery ticket (some people do) although in a software case you'd not need to actually spend anything.
As to where you'd find these hard drives. Auctions,eBay,car boots,neighbourhood swap sites freegle/Freecycle, removing from PCs abd yes the dump, I've got equipment from all of them. (One had a wallet which got me into bitcoin)
As to where you'd find these hard drives. Auctions,eBay,car boots,neighbourhood swap sites freegle/Freecycle, removing from PCs abd yes the dump, I've got equipment from all of them. (One had a wallet which got me into bitcoin)
i agree that as price rises, the cost/risk to engage on wild goose chases to recover bitcoins becomes more sensible. for example, this guy is fighting to get the government to allow a search of a landfill for a hard drive containing bitcoins.
Ok I will try and rephrase.
It is really easy to identify if a hard drive has a wallet on it or not. You just use find o Linux or search on windows. Admittedly recovering is a bit harder (In practise you'd set up a new wallet and transfer them out) just like how you would for recovery.
If people would do it or not is an interesting question, the odds suggest it would be a bit like buying a lottery ticket (some people do) although in a software case you'd not need to actually spend anything.
As to where you'd find these hard drives. Auctions,eBay,car boots,neighbourhood swap sites freegle/Freecycle, removing from PCs abd yes the dump, I've got equipment from all of them. (One had a wallet which got me into bitcoin)
It is really easy to identify if a hard drive has a wallet on it or not. You just use find o Linux or search on windows. Admittedly recovering is a bit harder (In practise you'd set up a new wallet and transfer them out) just like how you would for recovery.
If people would do it or not is an interesting question, the odds suggest it would be a bit like buying a lottery ticket (some people do) although in a software case you'd not need to actually spend anything.
As to where you'd find these hard drives. Auctions,eBay,car boots,neighbourhood swap sites freegle/Freecycle, removing from PCs abd yes the dump, I've got equipment from all of them. (One had a wallet which got me into bitcoin)
Okay so it is not exactly a great anaolgy. The difference between mining and panning is that panning is looking for naturally occurring gold in streams and rivers and all Bitcoin is artifical.
However there is a growing number of people coming out who had Bitcoin long ago threw away computers and hard drives. Parents who don't understand the value cleaning the room. People who don't realise a broken computer can still be recovered. The cost of recovery services are not worth the effort.
So panning. Build out a raspery pi or similar and code it to look for bitcoin address . Then people simply scour for hard drives. Plug play and scan. Once you have a blockchain address you can check the value of the explorer and see if it is worth while recovering. We can also look at the explorer and see how many unique accounts there are that haven't been used.
I don't know what you are trying to say or suggest which I do only understand regarding on panning which If you do applied it and if people would tend to do such thing I would say this would really be a hard thing and finding those harddrives usb's or any kind of storage will really takes time and I would ask you on where those people would tend to search up? On a garbage mountain? Goodluck for searching. However there is a growing number of people coming out who had Bitcoin long ago threw away computers and hard drives. Parents who don't understand the value cleaning the room. People who don't realise a broken computer can still be recovered. The cost of recovery services are not worth the effort.
So panning. Build out a raspery pi or similar and code it to look for bitcoin address . Then people simply scour for hard drives. Plug play and scan. Once you have a blockchain address you can check the value of the explorer and see if it is worth while recovering. We can also look at the explorer and see how many unique accounts there are that haven't been used.
Thanks hacker we already have the code it is easy to determine if a given hard drive has a wallet on it or not.
Ok fortify if the computer is corrupted and won't boot then installing software won't work. Of course you can boot another os and look for the file or plug the hard drive into another machine. What I'm getting at is like you say it is relativley easy but the average Joe doesn't know how to do this. All they know is bitcoin makes money. So you sell them the hardware they buy old hard drives, and check for bitcoin. If it's there recover the private keys or the words and possible jackpot import to new wallet and sell. There should.be enough people.into Bitcoin but technically novice to make it work now.
(You don't need the original machine of.course a backup of private keys will do just fine.)
Ok fortify if the computer is corrupted and won't boot then installing software won't work. Of course you can boot another os and look for the file or plug the hard drive into another machine. What I'm getting at is like you say it is relativley easy but the average Joe doesn't know how to do this. All they know is bitcoin makes money. So you sell them the hardware they buy old hard drives, and check for bitcoin. If it's there recover the private keys or the words and possible jackpot import to new wallet and sell. There should.be enough people.into Bitcoin but technically novice to make it work now.
(You don't need the original machine of.course a backup of private keys will do just fine.)
I don't understand what you are suggesting? A device that can scan computers to find specific wallets that may have funds inside? It is relatively easy to find any wallet that is held on a PC, that difficult part is locating the original hardware that actually stored the wallet. People have been doing this for years, so it is hardly a new concept.
Okay so it is not exactly a great anaolgy. The difference between mining and panning is that panning is looking for naturally occurring gold in streams and rivers and all Bitcoin is artifical.
However there is a growing number of people coming out who had Bitcoin long ago threw away computers and hard drives. Parents who don't understand the value cleaning the room. People who don't realise a broken computer can still be recovered. The cost of recovery services are not worth the effort.
So panning. Build out a raspery pi or similar and code it to look for bitcoin address . Then people simply scour for hard drives. Plug play and scan. Once you have a blockchain address you can check the value of the explorer and see if it is worth while recovering. We can also look at the explorer and see how many unique accounts there are that haven't been used.
This is a very nice idea as I think many people in the world have lost their wallet address and have also lost a large amount of money in bitcoin wallet. so if an app or a code is developed which can find you lost id and also check the balance then it will be great or those people and many people will get rich from recovering there wallet. This should be developed. However there is a growing number of people coming out who had Bitcoin long ago threw away computers and hard drives. Parents who don't understand the value cleaning the room. People who don't realise a broken computer can still be recovered. The cost of recovery services are not worth the effort.
So panning. Build out a raspery pi or similar and code it to look for bitcoin address . Then people simply scour for hard drives. Plug play and scan. Once you have a blockchain address you can check the value of the explorer and see if it is worth while recovering. We can also look at the explorer and see how many unique accounts there are that haven't been used.
Okay so it is not exactly a great anaolgy. The difference between mining and panning is that panning is looking for naturally occurring gold in streams and rivers and all Bitcoin is artifical.
However there is a growing number of people coming out who had Bitcoin long ago threw away computers and hard drives. Parents who don't understand the value cleaning the room. People who don't realise a broken computer can still be recovered. The cost of recovery services are not worth the effort.
So panning. Build out a raspery pi or similar and code it to look for bitcoin address . Then people simply scour for hard drives. Plug play and scan. Once you have a blockchain address you can check the value of the explorer and see if it is worth while recovering. We can also look at the explorer and see how many unique accounts there are that haven't been used.
However there is a growing number of people coming out who had Bitcoin long ago threw away computers and hard drives. Parents who don't understand the value cleaning the room. People who don't realise a broken computer can still be recovered. The cost of recovery services are not worth the effort.
So panning. Build out a raspery pi or similar and code it to look for bitcoin address . Then people simply scour for hard drives. Plug play and scan. Once you have a blockchain address you can check the value of the explorer and see if it is worth while recovering. We can also look at the explorer and see how many unique accounts there are that haven't been used.
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