bitcoin will pass 300? anyone?
Topic: ★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 963. (Read 3058816 times)
March 02, 2015, 08:39:06 PM
March 02, 2015, 06:11:26 PM
just to ask regarding the use of a desktop wallet - i backup my wallet.dat whenever necessary, like after i am done with transactions for the day, etc. i am not sure if backing up the wallet.dat is enough. so do we still need to know the private key of the desktop wallet?
The wallet.dat file is enough, you don't need the private key.
You can do a fresh install of the wallet on another computer, then close the program and replace the 'new' wallet.dat with your backup copy.
That is correct.
The private key is what you would use to create a paper wallet, and is a much more cumbersome, complicated and dangerous process that is only recommeded for expert users (since if done incorrectly you have a very good chance of losing your coins), and using 3rd party software to supposedly make that easier is even more dangerous.
Making your own wallet.dat backup is as easy and just as safe as (if not easier and safer than) any kind of backup possible - as long as you are sure to have multiple copies of your backups and that they are all off-line. You can also use several wallet.dat files. When backed up, they might look something like wallet001.dat, wallet002.dat, etc., and when you want to use one, take it to the DigiByte folder, rename it wallet.dat, and it'll be up and running once you've launched DigiByte Core. When finished, rename it with its backup name once again, and copy it to at least 3 off-line backup locations. Once that's done, the copy in the DigiByte folder should be deleted - I never leave an active wallet in the program folder (and NEVER use the "move" command: always copy first, and then delete once you've got confirmed good backups).
March 02, 2015, 01:49:14 PM
just to ask regarding the use of a desktop wallet - i backup my wallet.dat whenever necessary, like after i am done with transactions for the day, etc. i am not sure if backing up the wallet.dat is enough. so do we still need to know the private key of the desktop wallet?
The wallet.dat file is enough, you don't need the private key.
You can do a fresh install of the wallet on another computer, then close the program and replace the 'new' wallet.dat with your backup copy.
March 02, 2015, 08:49:04 AM
Two consecutive transactions over the same public address leads to a pattern relaying on the elliptic curve cryptography method.
So working along with reverse engineering, hacker can find the private keys, where he can extract them and steal coins whenever they want to.
Imagine if those private keys belong to a cold wallet of huge bitcoin exchange... It can be a disaster for digital currencies...
This has been always the problem in the history of cryptography, and it is actually the reason why cryptography has born.
Let only the target person know what your information is, but don't let anybody else know about it.
So you have to encrypt it at the source, but also have to allow it to be fully recoverable at the destination, without getting caught in the air with some patterns.
To be honest, it is not an easy job, requires a lot of focus and luck. If someone can do it, I am sure they deserve it, but need a patch ASAP, maybe adding another layer of security of some hashing algorithm for the public address and its transaction IDs could be a solution, to remove the patterns...
So working along with reverse engineering, hacker can find the private keys, where he can extract them and steal coins whenever they want to.
Imagine if those private keys belong to a cold wallet of huge bitcoin exchange... It can be a disaster for digital currencies...
This has been always the problem in the history of cryptography, and it is actually the reason why cryptography has born.
Let only the target person know what your information is, but don't let anybody else know about it.
So you have to encrypt it at the source, but also have to allow it to be fully recoverable at the destination, without getting caught in the air with some patterns.
To be honest, it is not an easy job, requires a lot of focus and luck. If someone can do it, I am sure they deserve it, but need a patch ASAP, maybe adding another layer of security of some hashing algorithm for the public address and its transaction IDs could be a solution, to remove the patterns...
In the meantime there are precautions everyone can take to mitigate the risk of falling victim to this exploit.
A) The most drastic and cumbersome preventive security measure would be to never use the same address twice.
or
B) Another, more easily manageable option would be to use a wallet whose dedicated purpose is to transact with the outside world, and to never leave important amounts in it. An example would be a wallet with addresses for exchanges, mining pools, donations, stores, etc., and whenever the balance of any of those addresses goes over a certain pre-established amount, you, as the owner and user, would send the balance to another wallet that you only use for storage and that only transacts with your "intermediary transaction wallet" and never with anyone else. I think this would be an effective workaround solution.
REMEMBER: most of us use specific addresses of our own creation with each entity we deal with, which means that those addresses easily fall into "two consecutive transaction" sequences. For example, most people have a specific address they use with Cryptsy, and another for Bittrex (again, these are named for sake of giving an example). Those specific addresses are used only for transactions with each specific entity and no-one else. Obviously this means that the entity we are transacting with has made not just two, but a plethora of sequential transactions with our specific address.
The good news is that an attacker cannot steal everything in our intermediary transaction wallet, only what's assigned to the particular address in the blockchain. Relaying funds to a safer, better protected address using a "proxy" wallet in a firewall kind of fashion as outlined in option B above should keep any attacker at bay.
Please correct me if I'm overlooking anything (which is quite possible). There are things we can do to improve security using the technology currently available to us and it's not necessary or recommendable to ignore the issue while waiting for a fix. Beyond what I've mentioned here, other advice is to never use an online wallet provider or online creator of paper wallets, NEVER! What other suggestions and recommendations has everyone else heard of or have?
just to ask regarding the use of a desktop wallet - i backup my wallet.dat whenever necessary, like after i am done with transactions for the day, etc. i am not sure if backing up the wallet.dat is enough. so do we still need to know the private key of the desktop wallet?
March 02, 2015, 02:11:38 AM
I wish I have more BTC to buy DGB right now.
Yeah dgb is cheap right now 
March 02, 2015, 12:29:52 AM
I wish I have more BTC to buy DGB right now.
March 01, 2015, 09:38:56 PM
Is DGB steeled for potential regulation in the U.S. and other countries?
can anybody answer this please I'm not sure I understand your question. Could you be more specific? What do you mean by "steeled"? Are you asking if somehow there is a way for any one individual person, place or thing to somehow be exempt from public scrutiny and regulation? If that's case, the answer would obviously be "no", but, as I said, I'm not sure about your question, so if you could be a bit clearer . . .
In New York there will be the BitLicense in the next weeks with regulations for professionals in the crypto scene. With KYC etc. So if the Bitcoin scene will be regulated altcoins will be too. The developments are only as good as the accordance to the regulation can be. Otherwise you can't use the coin.
And I want to know if DigiByte is forearmed
Bitlicense would apply to financial intermediaries (exchanges and banks). It wouldn't apply to individuals. So, you can still use your coins. Once Bitlicense goes into effect, you just can't start a company, take deposits, and use other peoples' assets without obtaining a license.
I'm not going to guess about all the regulation that we'll see - all around the world - in the coming years. Generally speaking, if done properly, the regulation should benefit both the value and use of digital currencies. It should add a layer of responsibility and accountability. Sure, there will be bad laws in some places. But, I think it's more likely that we'll see greater benefits from regulation that requires accountability than from lack of it.
As far as I can tell, DGB is a thoughtfully developed and managed coin. I would imagine they'll do just fine with regulation.
I read a while back that US regulators are going consider BTC a commodity not a currency and regulate it as such. Any buying or selling that results in profits would come under US tax laws as taxable income called capital gains. The article only talked about BTC but I would assume it would include any and all digital currencies. I'll see if I can find that article again.
The IRS considers Bitcoin as "convertible virtual currency," which - as a capital asset (investment) - incurs ordinary gains or losses. You can read the specific rules here: http://www.irs.gov/pub/irs-drop/n-14-21.pdf
In essence, the rules mean that you have to report capital gains (or losses) when you hold digital currency as investment - and/or you have to report "fair market value" as income if you accept it as payment for goods or services (put more simply, you can't accept BTC or DGB as payment to avoid paying income taxes). I'm not a tax expert - and certainly not giving any tax advice - but it's pretty straightforward ... Although the IRS doesn't mention any specific alt coins, I would guess that alt coins would qualify for the same treatment. But, as far as I can tell there's no reason to worry about reporting details for alt coin trades unless you trade directly for them with USD (or accept them as payment for goods or services). Capital gains and losses are established when I create a taxable event (i.e. sale of BTC for USD - or accept payment for goods). Until I realize the gain or loss, there's not a taxable event.
Here's the way I do it (again, not advice just the way I do it) ... if I buy 2 BTC ... and trade them for DGB ... and DGB triples in value ... I still haven't realized any capital gains. However, if I were to sell the DGB for BTC, and then sell the BTC for USD ... I would have to report any gains or losses from the original cost basis of the BTC purchase against the sale. Any mined coins, or additional BTC created from the increased value of my trading, would have a cost basis of $0, so I'm on the hook for 100% of their value as capital gains. I keep track of all my BTC purchases (date, cost basis, etc.) and all my BTC sales (date, value, etc.). At the end of the year, the difference is my capital gains or losses.
March 01, 2015, 08:46:20 PM
Is DGB steeled for potential regulation in the U.S. and other countries?
can anybody answer this please I'm not sure I understand your question. Could you be more specific? What do you mean by "steeled"? Are you asking if somehow there is a way for any one individual person, place or thing to somehow be exempt from public scrutiny and regulation? If that's case, the answer would obviously be "no", but, as I said, I'm not sure about your question, so if you could be a bit clearer . . .
In New York there will be the BitLicense in the next weeks with regulations for professionals in the crypto scene. With KYC etc. So if the Bitcoin scene will be regulated altcoins will be too. The developments are only as good as the accordance to the regulation can be. Otherwise you can't use the coin.
And I want to know if DigiByte is forearmed
Bitlicense would apply to financial intermediaries (exchanges and banks). It wouldn't apply to individuals. So, you can still use your coins. Once Bitlicense goes into effect, you just can't start a company, take deposits, and use other peoples' assets without obtaining a license.
I'm not going to guess about all the regulation that we'll see - all around the world - in the coming years. Generally speaking, if done properly, the regulation should benefit both the value and use of digital currencies. It should add a layer of responsibility and accountability. Sure, there will be bad laws in some places. But, I think it's more likely that we'll see greater benefits from regulation that requires accountability than from lack of it.
As far as I can tell, DGB is a thoughtfully developed and managed coin. I would imagine they'll do just fine with regulation.
I read a while back that US regulators are going consider BTC a commodity not a currency and regulate it as such. Any buying or selling that results in profits would come under US tax laws as taxable income called capital gains. The article only talked about BTC but I would assume it would include any and all digital currencies. I'll see if I can find that article again.
March 01, 2015, 07:53:51 PM
XBT? What's that?
XBT is just another abbreviation for BTC 
March 01, 2015, 07:39:02 PM
March 01, 2015, 07:36:41 PM
XBT? What's that?
March 01, 2015, 06:00:44 PM
Is this...what i think it is...?
"The Calm before The Storm..."
a good 'storm' i meant. like...taking the world by storm!
"The Calm before The Storm..."
a good 'storm' i meant. like...taking the world by storm!
If I were Jared, I would not do any announcement before the coming BTC auctions on the 5th of March.
So plausible logic forces me not to expect any announcement before that... (but who knows)
Bitcoin price is increasing and clearly being manipulated by Fed.
Bitcoin price will continue increasing up to $340 (my guess) by the 5-6th and maybe 7th of March, and will be followed by a huge dump
Expect a huge suffering in altcoins, especially those very quiet ones.
Therefore, while the bitcoin price is pumping, people are more interested in buying bitcoin or holding their bitcoin position than any other altcoins atm.
Even if DGB price moves now due to an announcement, it will be dumped back very quickly and it will be just wasted.... That also whispers me that no announcement will be made.
Marked !
Here we go! XBT is rising lol
March 01, 2015, 04:49:08 PM
Why am I not getting any replies here? The Digihash miner is broken...
replies to what and what Digihash miner is broken? I've got some mining there, no problems.
March 01, 2015, 04:31:34 PM
Why am I not getting any replies here? The Digihash miner is broken...
replies to what and what Digihash miner is broken? I've got some mining there, no problems. March 01, 2015, 04:21:31 PM
Why am I not getting any replies here? The Digihash miner is broken...
March 01, 2015, 03:24:57 PM
Is DGB steeled for potential regulation in the U.S. and other countries?
can anybody answer this please I'm not sure I understand your question. Could you be more specific? What do you mean by "steeled"? Are you asking if somehow there is a way for any one individual person, place or thing to somehow be exempt from public scrutiny and regulation? If that's case, the answer would obviously be "no", but, as I said, I'm not sure about your question, so if you could be a bit clearer . . .
In New York there will be the BitLicense in the next weeks with regulations for professionals in the crypto scene. With KYC etc. So if the Bitcoin scene will be regulated altcoins will be too. The developments are only as good as the accordance to the regulation can be. Otherwise you can't use the coin.
And I want to know if DigiByte is forearmed
Bitlicense would apply to financial intermediaries (exchanges and banks). It wouldn't apply to individuals. So, you can still use your coins. Once Bitlicense goes into effect, you just can't start a company, take deposits, and use other peoples' assets without obtaining a license.
I'm not going to guess about all the regulation that we'll see - all around the world - in the coming years. Generally speaking, if done properly, the regulation should benefit both the value and use of digital currencies. It should add a layer of responsibility and accountability. Sure, there will be bad laws in some places. But, I think it's more likely that we'll see greater benefits from regulation that requires accountability than from lack of it.
As far as I can tell, DGB is a thoughtfully developed and managed coin. I would imagine they'll do just fine with regulation.
March 01, 2015, 10:28:52 AM
Is DGB steeled for potential regulation in the U.S. and other countries?
can anybody answer this please I'm not sure I understand your question. Could you be more specific? What do you mean by "steeled"? Are you asking if somehow there is a way for any one individual person, place or thing to somehow be exempt from public scrutiny and regulation? If that's case, the answer would obviously be "no", but, as I said, I'm not sure about your question, so if you could be a bit clearer . . .
In New York there will be the BitLicense in the next weeks with regulations for professionals in the crypto scene. With KYC etc. So if the Bitcoin scene will be regulated altcoins will be too. The developments are only as good as the accordance to the regulation can be. Otherwise you can't use the coin.
And I want to know if DigiByte is forearmed
If the coin has no DARK side, there is possibility of having it regulated.
But nobody can guarantee that, it could be just that BitCoin (XBT) is the first and the last coin to be regulated.
And do not forget that most coiners are against regulation.
Personally, I am sure %95-%98 of the Altcoins are to die, but DigiByte is hopefully and most probably not one of them.
March 01, 2015, 08:27:24 AM
Is DGB steeled for potential regulation in the U.S. and other countries?
can anybody answer this please I'm not sure I understand your question. Could you be more specific? What do you mean by "steeled"? Are you asking if somehow there is a way for any one individual person, place or thing to somehow be exempt from public scrutiny and regulation? If that's case, the answer would obviously be "no", but, as I said, I'm not sure about your question, so if you could be a bit clearer . . .
February 28, 2015, 10:10:23 PM
February 28, 2015, 04:32:21 PM
Thank you sir!
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