With Trezor I feel very secure definitely not checking balances.


An example: actually a lot of the bitcoin gambling site owners also use Trezors (sometimes multiple) to store their funds. For example BetKing has more than 6k BTC in their Trezor devices. BitDice has 2k BTC in their Trezor devices. BustaBit also over 1k BTC. So if they trust that product with that much money, we should be fine too


Just make sure to keep that backup (those 12 or 24 words) in a safe place where no one can steal it (and potentially consider situations like a fire that destroys both your backup and Trezor, if you want to be really safe.)

But the security of the device itself has been pretty well tested and proved itself imo.

Pretty reassuring, and good advice. Thx again Nico

Multibit does not use a dynamic fee. This is now a big problem and as a result, i dont think i'll be recommending it as a choice of wallets anymore or until they fix that.

i ran into the same issue recently. i sent a large tx (~800 bytes) and only paid the fixed 0.0001 fee (~$0.06). normally "ok", but turned out to be about 4x smaller than i should have paid at the time considering the tx size. i waited 11 hrs for the first confirmation.

your trezor has a btc address, just like any other btc address. rather than plugging in your trezor to check your balance, just bookmark the address at blockchain.info and check it every once it a while if you're concerned.

- or - "import" the address into your existing wallet software as a "watch only" address. The balance will be added to your wallet balance, but you cannot spend from it.

Boom, China

Now we go down to 450 then Ath

How valid are the concerns regarding block reward voiced in this paper?

http://randomwalker.info/publications/mining_CCS.pdf

yeah, there's no question that the 21m hardcap is going to be war. If people think blocksize/segwit/ln caused feathers to be ruffled, the 21m hardcap is going to all out war and a lot of ppl will quit/explode/rage/sabotage etc. over this.

I think its coming though.


https://twitter.com/petertoddbtc/sta...32042553065472



also- that paper is pretty dangerous, because one of the tenets of the endgame is that people believed that 1- btc would be worth "alot" 2- fees would be robust. but that paper argues that with a limited block size, miners when reward = 0 ar enot necessarily incentivized to confirm the highest fee'd txs. Because at some arbitrary point, it becomes more important to confirm certain TXs irrespective of their associated fee due to the congestion in the network as opposed to just confirming the highest fee'd tx. Basically that confirming on-chain could be worth more than an exorbitant fee from a TX the miner knows nothing about.

I also want to note--

No one knows what the bitcoin industry is going to look like in 15 years. You can argue that it actually becomes very difficult for the typical layman to buy bitcoin over the counter because of regulations. This would mean that banks or institutions will begin mining altruistically and if that happens, no one is going to ever care or worry about bitcoin's security.

I would be very very surprised if the majority of the hashing power ever was behind a "remove 21M limit"-fork.

I see two scenarios:
1. transactions go up, fees goes up and the network is secure
2. bitcoin fails, something else replaces it

As for 2, I think POS or Ethereum way more likely than Bitcoin minus 21M limit.

Even with the block reward halving and the price not increasing much the hash power keeps rising considerably.

price is up ~200% this year, ~300% past couple yrs.

and 16nm chips are coming online this month.

It should be noted that Bitcoin has been the best performing currency(if we ignore the altcoins) by quite a bit margin each year 2008-2016 except 2014. But since we were used to 10x increases every year we somehow got stuck in the "Bitcoin has stagnated" mindset after 2013.

Having an issue w Electrum and the site I deposited to from my Electrum wallet, swcpoker.eu (SealsWithClubs 2.0).

As I was sending the money from Electrum, the swcpoker client crashed. This happens a lot on this computer so I usually play on that site from another computer. The transaction hasn't gone through and there are zero confirmations. So I'm pretty sure swcpoker doesn't have my BTC (and they usually credit my account within 5-10 minutes of when I send from Electrum). But I can't re-send the money from Electrum because Electrum is showing the transaction as pending.

What will happen to my BTC that's in limbo? How long will it take?

I'm perfectly fine w the transaction eventually being denied (or accepted by swcpoker) and having the funds back where they started, in my Electrum wallet. Is there anybody I need to contact about this? I only got into BTC to play poker and I'm not well informed w the technical aspects. Any guidance would be greatly appreciated, thanks.

It will go through just be patient sometimes transactions are slow because they get backed up. In the future if you want to receive the funds faster pay a few more cents on the fee to get priority.

As of four hours ago there were a record number of unconfirmed bitcoin transactions on the blockchain. Could be in part responsible for your problems?

https://np.reddit.com/r/btc/comments...irmed_bitcoin/

300% the past couple years?

The 2 year return is about 0%, and the 3 year return is -50%.

Sure if you find a really selective time frame you can spin it to show gains, but you realize the price was much higher 3 years ago?

there was a huge and likely fake/manipulated bubble in late 2013. i wouldnt put too much weight on the price of a btc during the collapse of Mt Gox.

However,
- Oct 26, 2013, $~200 usd, 3.3x lower
- Oct 26, 2014, $350 usd, 1.9x lower
- Oct 26, 2015, $300 usd, 2.2x lower

i had a transaction take 6 hours earlier today.

A very important detail to take into consideration is the spike to 1200 was caused because there was pretty much only one exchange at the time and the owner artificially inflated the price by putting fake cash orders in for millions of dollars. That all came crashing down and so did BTC. Take that event out and you may have a much more gradual chart and may actual be near all time highs

Woke up this morning and swcpoker.eu had credited my account. Their support responded to me in 12 minutes.

Very interesting to note that offering a higher fee could actually make your transaction a higher priority. I've always thought of processing fees as flat taxes, whether they take 3 hours or 3 months (like some sites).

I do wish I'd held more BTC as an investment instead of just using for poker. Like everybody else, I wonder what the ceiling is for BTC . . .

wish my poker graph looked like this tho

why is my coinbase -> blockchain transfer not happening immediately? it's only been 5-10 minutes since i sent, but i'm pretty sure the other time i did this it happened instantly.

on coinbase it says "Transaction pending 0 confirmations"

There's 60k pending transactions right now. There is some weird stuff going on if your not paying high transaction fees. Not even sure what happens if you include a high transaction fee. I just cashed out a poker site via BTC... I hope they know wtf is going on so mine isn't left in limbo. What can one do if your transaction is taking forever and you want to increase the fee to get it through or even cancel it.