The Bitcoin Thread

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Alton Turner Blackwood

Alton Turner Blackwood

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Hempiz said:
14 June 2016.

Probably a dedicated Miner/trader. He has a current 400+ balance but has received and sent 35000BTC in the past year. Seems to create 12BTC every few hours and then sells/moves it every other day or so as per blockchain data.

Interesting stats tho.
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Ah, I was wondering how the hell he got over 400BTC in less than a month :D

But still to generate 12BTC in a few hours requires an enormous amount of computing power. I found the address while messing around on blockchain.info
 
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Sly21C

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Thor187 said:
Luno seems to be broken. Bitcoin aints sending been nearly 30 minutes now still says pending not even submited to the blockchain so seems luno's side
Click to expand...

Is it all sorted now? I wonder what was the issue?

I opened a foreign exchange crypto account. I sent US$ to it and bought bitcoins but it's hanging. It's been like 20 minutes now.
 
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balrog

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etienne_marais said:
More complicated then I thought.

View attachment 447712

https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/
Click to expand...

My take on all of this:

1. I have some crypto investments I am holding medium to long term. Not doing anything with those. Just letting them sit there.
2. Then some short term cryptos I will sell at a profit. Lquidate them to BTC.
3. Move the BTC to Mycelium wallet (will get a Ledger nano later this year) to ensure I control the private key.
3a The reason for 3, is to have BTC IF the split happens (actually multiple possible splits, if you read up) - which means I will have coins on any of the new chains. Just in case. Might end up like ETH and ETC where you have more than 1 chain that retains value.

Anyway, that is my DOOMSDAY PLANNING done for pre 1 August :)

Oh yes, and it might be wise to keep some free ZAR handy in case of a big BTC price dip :)

Feel free to send tips for this sage advice to :)

1FzQBWxMZHjDD7yA9Apo5YRzyefuBPe3QV
 
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etienne_marais

etienne_marais

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balrog said:
My take on all of this:

1. I have some crypto investments I am holding medium to long term. Not doing anything with those. Just letting them sit there.
2. Then some short term cryptos I will sell at a profit. Lquidate them to BTC.
3. Move the BTC to Mycelium wallet (will get a Ledger nano later this year) to ensure I control the private key.
3a The reason for 3, is to have BTC IF the split happens (actually multiple possible splits, if you read up) - which means I will have coins on any of the new chains. Just in case. Might end up like ETH and ETC where you have more than 1 chain that retains value.

Anyway, that is my DOOMSDAY PLANNING done for pre 1 August :)

Oh yes, and it might be wise to keep some free ZAR handy in case of a big BTC price dip :)

Feel free to send tips for this sage advice to :)

1FzQBWxMZHjDD7yA9Apo5YRzyefuBPe3QV
Click to expand...

Thanks. I too am expecting a possible dip with people withdrawing/converting if only to see what happens next. Did not think of ensuring private ownership of private key, thanks for tip.
 
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ziiyo

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Morning All,

Noob question here. I have a single BTC in Luno. I am aware of the 1st regardless of the outcome I think it would be best to store your private keys. As far as I have read if this is the case then if there is a fork you would simply use your keys and the BTC should be reflected on both new streams (Old & New). I am just scared that Luno handles a possible fork in their 'own' way and things can get messy , sites can go down, no trading etc etc.

To prevent this I want to be able to take control of my keys. For some reason I am not sure how to get my private keys on Luno. I was hoping it would be a string that I could write down and presto but I don't think it is that easy.

Can anyone help me in this regard.

-Thanks
 
Thor

Thor

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ziiyo said:
Morning All,

Noob question here. I have a single BTC in Luno. I am aware of the 1st regardless of the outcome I think it would be best to store your private keys. As far as I have read if this is the case then if there is a fork you would simply use your keys and the BTC should be reflected on both new streams (Old & New). I am just scared that Luno handles a possible fork in their 'own' way and things can get messy , sites can go down, no trading etc etc.

To prevent this I want to be able to take control of my keys. For some reason I am not sure how to get my private keys on Luno. I was hoping it would be a string that I could write down and presto but I don't think it is that easy.

Can anyone help me in this regard.

-Thanks
Click to expand...
Do not store you bitcoins on an exchange, you do not own your coins luno does.
 
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ziiyo

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Thor187 said:
Do not store you bitcoins on an exchange, you do not own your coins luno does.
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I agree but I am right in saying that if your coins are not on the exchange then trading could be delayed as you need to load them first.

If I want to store them on paper and I can manage it. How do I get them out of Luno and generate those private keys. That seems to be the missing link for me at the moment.
 
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balrog

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Thor187 said:
Do not store you bitcoins on an exchange, you do not own your coins luno does.
Click to expand...

This ^^

While your BTC is at Luno, THEY control your private key. The ONLY time ONLY YOU control your private key, is when it is in a wallet only YOU control.
 
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balrog

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ziiyo said:
I agree but I am right in saying that if your coins are not on the exchange then trading could be delayed as you need to load them first.

If I want to store them on paper and I can manage it. How do I get them out of Luno and generate those private keys. That seems to be the missing link for me at the moment.
Click to expand...

You will send them from Luno, to a wallet you control (paper, hardware, Mycelium wallet on mobile etc.). If you then again want to trade on Luno, you will then send the BTC from your own wallet, back to your Luno wallet.

Does that answer your question?
 
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ziiyo

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ziiyo said:
I agree but I am right in saying that if your coins are not on the exchange then trading could be delayed as you need to load them first.

If I want to store them on paper and I can manage it. How do I get them out of Luno and generate those private keys. That seems to be the missing link for me at the moment.
Click to expand...

balrog said:
You will send them from Luno, to a wallet you control (paper, hardware, Mycelium wallet on mobile etc.). If you then again want to trade on Luno, you will then send the BTC from your own wallet, back to your Luno wallet.

Does that answer your question?
Click to expand...

Thanks, I get the concept. I am playing around with Luno and I see there is a 'Receive Bitcoin' option. It has a QR code as well as a long string of numbers and letters.

I assume I would put my one BTC amount into the receive field and it would then allocate the BTC to that string. I can then write it down on a piece of paper (preferred for now just to get out before the 1st August) and then come the day after I can use that same string in say Luno to deposit the BTC back into the wallet.

If two chains exists, does that mean the single BTC will be replicated on both chains and presto we are good to go from there?

-Thanks :)
 
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balrog

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ziiyo said:
Thanks, I get the concept. I am playing around with Luno and I see there is a 'Receive Bitcoin' option. It has a QR code as well as a long string of numbers and letters.

I assume I would put my one BTC amount into the receive field and it would then allocate the BTC to that string. I can then write it down on a piece of paper (preferred for now just to get out before the 1st August) and then come the day after I can use that same string in say Luno to deposit the BTC back into the wallet.

If two chains exists, does that mean the single BTC will be replicated on both chains and presto we are good to go from there?

-Thanks :)
Click to expand...

NO - the string of numbers you see below the QR, is your Luno BTC deposit address. If you send BTC to that address, you are sending it to yourself :). That is the address you will give out to other people that you want to send YOU BTC to your Luno account. You can alo generate more of these addresses, but any deposit will end up in your Luno account.

I think that for your own safety, you need to read up more and educate yourself. I am not trying to be nasty, but you can easily lose your 1 x BTC if you are not careful and don't understand how things work.

Go to www. Bitcoin . com and read the intro to Bitcoin to understand more.
 
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ziiyo

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balrog said:
NO - the string of numbers you see below the QR, is your Luno BTC deposit address. If you send BTC to that address, you are sending it to yourself :). That is the address you will give out to other people that you want to send YOU BTC to your Luno account. You can alo generate more of these addresses, but any deposit will end up in your Luno account.

I think that for your own safety, you need to read up more and educate yourself. I am not trying to be nasty, but you can easily lose your 1 x BTC if you are not careful and don't understand how things work.

Go to www. Bitcoin . com and read the intro to Bitcoin to understand more.
Click to expand...

Thanks, will get onto it now. Not being nasty at all :)

-Cheers
 
etienne_marais

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petum

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balrog said:
You will send them from Luno, to a wallet you control (paper, hardware, Mycelium wallet on mobile etc.). If you then again want to trade on Luno, you will then send the BTC from your own wallet, back to your Luno wallet.

Does that answer your question?
Click to expand...
What's the best mobile app for a bitcoin that you control?
 
Thor

Thor

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petum said:
What's the best mobile app for a bitcoin that you control?
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Mycelium is pretty high up on the list.

For ether I currently use Jaxx

Ledger is first prize, but I'm having a bit of difficulty sourcing stock. The factory has a backlog of note.
 
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