Madzi Konjo
  • Member for 7 years, 3 months
  • Last seen more than 7 years ago
What is a good resource to help newbies choose their first wallet/s?
6 votes

I'd recommend to read up on Bitcoin to understand what you're doing. Then you can find an overview of wallets on bitcoin.org, but for a quick start, the fastest way to get started is: Desktop (...

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Can it really be true that the Bitcoin system consumes almost $1.000.000 in electricity per day?
6 votes

Of course. At the current block reward of 25 BTC per block, on average 3600 BTC are mined per day which are worth over $1 million. If it were significantly much cheaper than $1M (in terms of energy ...

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Does the value of my Bitcoin fluctuate automatically?
6 votes

Whether it fluctuates or not depends on how you express value. If you happen to be one of them American folks, who use dollars to express value, then a fixed amount of money in other currencies (such ...

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Is this a problem that a pool found 6 consecutive blocks?
5 votes

It would be a statistical anomaly if this did not happen from time to time. With pools having over 20% or so, they're bound to find 6+ consecutive blocks every now and then. It's not a problem. They ...

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What / Who is the Bitcoin mining-power useful to?
4 votes

Nothing is being "decrypted" (regardless of the fact that "decrypting hashes" is nonsense by itself). In fact, nothing about Bitcoin is encrypted whatsoever. Cryptography, yes (involving hashes and ...

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How are transactions secured?
3 votes

First of all, nothing is encrypted in Bitcoin, there is no "encryption" involved whatsoever. Cryptography: yes, but encryption: no. The main aspect of private vs public key signing, is dat you can ...

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What is it about a Trezor that means it can't be infected by malware?
Accepted answer
3 votes

You simply can't add, insert or install software or any executable stuff into a Trezor. Due to the way the Trezor is set up, it runs fully autonomically. The only thing that goes into the Trezor is ...

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Random numbers using blockchain
3 votes

Are they trully 100% random (generated by hardware) or is it pseudo-random (generated by software)? Actually, no, they are 0% random. There is no randomness involved in the mining process whatsoever. ...

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How to get started with a Bitcoin wallet
2 votes

No need for Tor at all (unless you intend to buy drugs or weapons, but in that case you're better off using cash dollars or euros). I'd recommend to read up on Bitcoin to understand what you're doing....

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Monitor paper wallet balance without importing private key?
1 votes

Setup a Bitcoin-Core (formerly Bitcoin-Qt) wallet on a separate, offline computer. Import the private key. Protect the wallet with a long, random gibberish password. Forget or throw away the password. ...

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What's the easiest way to someone to double-spend 0-confirmation transactions?
1 votes

I strongly doubt if this would work at all. You say you "have heard", just rumours or did you ever see such a thing in action? Remember, quite some people benefit from spreading FUD like this about ...

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What are the differences between Bitcoin and DigitalCoin (DGC)?
1 votes

DigitalCoin is just one of the many copycats of Bitcoin, probably made up by people who (mistakenly) think they missed the boat with Bitcoin, and now try to get rich quick by creating their own ...

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PHP Checking privatekeys
1 votes

You should not store your private keys on a webserver, unless you actually need to spend the bitcoins from that very same server. Remember, to receive money on an address, check its balance, etc, you ...

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What happens to bitcoins if the site shuts down?
0 votes

Same thing as what happens to gold if the gold people decide to shut down the gold website.

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Is instant profitable arbitrage impossible?
0 votes

If it were possible, people would be already doing it, and by definition of how the market works, it would even out the differences.

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Can you buy bitcoins as a Canadian without a bank account?
0 votes

Bank accounts, or any accounts or registration or identification whatsoever, are by No means connected to Bitcoin in any way. The "connected to bank account" stuff is only where fiat money ($ or €) ...

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Who specified the Bitcoin protocol?
-3 votes

We are, the Bitcoin community as a whole.

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