6

Will Taproot allow me to skip Lightning Network and simply use pure Bitcoin Core? Well, Bitcoin Core doesn't support Lightning for now, and probably won't for the foreseeable future, but there is no reason why that can't change over time. I'm going to assume your question is: Will Taproot allow getting all the benefits the Lightning Network provides with ...


6

With respect to the original wording of the question I believe Taproot will actually make the Lightning Network pointfull instead of pointless. While Taproot allows us to save some space on the bitcoin base layer, it will not make the Lightning Network obsolete. Remember, the main issue with respect to on-chain scaling is that a protocol in which every ...


6

You are using testnet. Addresses starting with "M", "N", "2" and "tb1" are testnet addresses.


3

It is a hash of the entire serialized UTXO set. You can use to verify that a node's UTXO set is uncorrupted (by comparing it with another node that runs the same command, at the same height). The _2 prefix is to indicate the hashing algorithm that is used. Earlier versions used a different algorithm that became very hard to support efficiently. It's just ...


3

The Bitcoin Core wallet and the LND wallet are completely separate wallets. LND relies on Bitcoin Core as a source for the blockchain data, nothing more. The profitability of your node depends on where it is situated in the network's topology. If you want to run Lightning to earn money, you will need to pick reliable nodes as channel partners, but also try ...


3

This occurs because Bitcoin Core's coin selection algorithm tries to have a minimum change of 0.01 BTC. Fees are subtracted from the change output so the result is that the change output has a lower value, but before fees, it will try to for the change output to be at least 0.01 BTC. As we can see in your transaction, the change before fees is approximately ...


3

Bitcoin Core has inbuilt benchmarks which can be enabled using debug=bench, which breaks down the validation time of incoming blocks.


3

testmempoolaccept is a RPC which lets you dry-run submitting a transaction like sendrawtransaction, without actually pushing the transaction into your mempool or to the p2p network. Both function identically other than the final operation of broadcasting, so error messages can be considered equal.


3

No, you need the password to spend any money in the wallet. The keys are encrypted with the password you provided.


2

This is what safe deposit boxes are for. Write your passphrase on a piece of paper and put it in a safe deposit box at a bank that will allow only you (with proper identification) to access the safe deposit box, until you die, whereupon access will be available to whoever you've designated through proper legal documents. If you are worried that some bank ...


2

According to https://en.bitcoin.it/wiki/Private_key any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key. So if someone generates a private key using the usual random process, and then you generate a private key using a random process there is one chance in 0xFFFF FFFF FFFF ...


1

Developers of reputable wallets use a suitable source of randomness and will generate a key in the whole range available, not restricted to some arbitrary small range. So far as I know there is no standard (e.g. BIP) that specifies this. It is assumed knowledge. For example see https://www.freecodecamp.org/news/how-to-generate-your-very-own-bitcoin-private-...


1

Replace wallet.dat with a saved copy


1

If you need only to receive bitcoins, or better only to check the balance of your wallet, you can setup a read only address that leave no way to send money through this server. To setup read only addresses there are several command: importaddress importmulti importpubkey Instead if you need a full node that receives and sends bitcoins automatically, (despite ...


1

It is not a superficial gate-keeping password. The password on your wallet is an encryption passphrase. Related answer with more details: https://bitcoin.stackexchange.com/a/89278/26873


1

There has never been a limitation on the characters or number of characters that could be used in the passphrase.


1

What I am now wondering however, is if I sync the entire blockchain (300GB+) and at some point want to --enable-wallet, will I be able to do so without any incompatibility issues? Yes, there's no issue with this. You will need to rebuild with --enable-wallet (or use the release binaries which bundle BDB), but this will have no impact at all on the ...


1

The block index and chain state databases are LevelDB databases. LevelDB has its own caching and cache management. So 2 MiB is being allocated for the block index's LevelDB database cache, and 8 MiB is being allocated for the chain state's LevelDB database cache. However Bitcoin Core does additional caching by itself, particularly for the UTXO set, which is ...


1

getaddressinfo is a wallet RPC. It reports the information a specific wallet has about a receiving address it created. Without wallet, there is no information. It seems to me that it should not be that difficult to dump all the information that the local blockchain currently has for a given address, without the need for a wallet. The local blockchain ...


1

I think I am all good. Thanks Pieter for your input, maybe that is so. but I was worried as none of the web blockchain transaction displayers showed a thing, but core was happy to display all funds gone. So I think it was just not getting out at all with Bitcoin Core, even though it was providing the "not found" (by blockchain etc) hashes of ...


1

Try it Electrum. Do import extended private masterkey


1

No it is not possible to find the passphrase with a hex editor. Bitcoin core encrypts your private keys with a random key. This random key is encrypted (AES-256-CBC) with a key derived from your passphrase. If you remember something from the key (parts of it, letters, even length) you need a program that permutates what you know. If not you can try brute ...


1

You can do so by building a raw transaction in the debug console (but be very careful, you can lose your funds if you're not experienced). When building raw transactions you can think of it in three basic steps. Create Raw Transaction createrawtransaction (https://bitcoincore.org/en/doc/0.18.0/rpc/rawtransactions/createrawtransaction/) Sign Raw Transaction ...


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