Open dat file - Bitcoin wallet

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Extracting BCH from an old Bitcoin wallet file

Can anyone give me the rundown on the likleyhood that I can get my bitcoin cash from an old prefork bitcoin wallet? The Bitcoin was sent out of the wallet after the fork, but I never accessed the bitcoin cash at all. I may have backups of the old wallet file if that makes a difference.
submitted by xpdx to btc [link] [comments]

can some one help me decrypt this bitcoin wallet file with 468.3 bitcoins? /r/BitcoinBeginners

can some one help me decrypt this bitcoin wallet file with 468.3 bitcoins? /BitcoinBeginners submitted by cryptoallbot to cryptoall [link] [comments]

can some one help me decrypt this bitcoin wallet file with 468.3 bitcoins? /r/BitcoinBeginners

can some one help me decrypt this bitcoin wallet file with 468.3 bitcoins? /BitcoinBeginners submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Can Anyone try do decrypt my bitcoin wallet file? here you go! /r/BitcoinBeginners

Can Anyone try do decrypt my bitcoin wallet file? here you go! /BitcoinBeginners submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Found an old bitcoin wallet file from 2014 on my hard drive yesterday....

Managed to restore the thing, and well, it was not a fortunate day for me. All of a whopping 0.00196640 BTC in it. :(
As much as I'd love to see Bitcoin continue to grow through the roof, getting back into the game is rather expensive.
So, I'll wait to see if it comes back down a bit, then buy a bit so that this number isn't quite as pathetic.
submitted by telldrak to Bitcoin [link] [comments]

Old bitcoin wallet file /r/Bitcoin

Old bitcoin wallet file /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

"Lost" Bitcoin wallet file. Also, ELI5: What happens to "lost" bitcoins?

I had an old wallet file with about 4 or 5 BTC in it, I think on Blockchain, which I haven't logged into for a few years. I don't remember any of the account info or passwords. Is there any way to recover my Bitcoin?
Along those same lines, how do lost Bitcoin affect the BTC ecosystem? In paper currency systems you could replace irretrievably damaged legal tender by permanently removing the defective cash from circulation, printing and issuing new currency in an equivalent amount. In BTC this doesn't seem to be possible. How would the BTC economy handle a mass loss event of a significant percentage of circulating BTC?
Seems to me that there's no way to recover from this because there's no way to prove the BTC are truly lost to circulation, but they can't be re-circulated because there's no mechanism to prove lack of ownership and allow redistribution of "orphaned" BTC. "Orphaned" BTC is effectively dead weight and serves only to hurt miners. The hash difficulty continues to increase apace since the only factor affecting it is the amount of BTC in existence. A great way to kill the BTC economy would be to acquire and remove from circulation a significant portion of circulating BTC. BTC to fiat cash exchange rates would change to reflect scarcity for a time but since the smallest unit is a discrete 0.00000001 BTC you could, in theory, pull something like this off.
Someone fix my logic. Thanks.
Edit: riplin gives an excellent explanation in this thread.
submitted by Rhynovirus to Bitcoin [link] [comments]

Found an old bitcoin wallet file from 2014 on my hard drive yesterday.... /r/Bitcoin

Found an old bitcoin wallet file from 2014 on my hard drive yesterday.... /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Broker Understand the Benefits of CryptoCurrency Trading

Bitcoin is a cryptocurrency, which can be spent, saved, or invested, and it can be stolen too. Trading with Bitcoins was considered to be risky, but the current trends show that it has become a big hit the binary options sector. This decentralized currency is not regulated by any Government, or by any central authority.
What determines the price of Bitcoins?
Bitcoin's price is determined according to the supply and demand ratio. Price increases when the demand increases, the rates plummet downwards when the demand falls. Bitcoins in circulation are limited, and new ones are created at a very slow rate. Since it does not have enough cash reserve to move the market price, its price can be extremely volatile.
Bitcoin trading is popular because of -
Binary options Bitcoin trading platform
bitcoin binary options are getting familiar with popularity of these Bitcoins, and its constant fluctuating values. Therefore they are using this opportunity to offer traders with the latest volatile crypto-currency as an additional payment method. Bitcoin brokers providing crypto-currency as trading option include -
Bitcoin brokers provide a simple trading online platform. All you have to do is visit their website, enter your details, and create an account. You can start with demo account to understand the market action.
The trading screen is simple.
Is Bitcoin trading secure?
Bitcoin network is possibly the world's vast spread computing project. The most common weakness here is the user errors. Bitcoin wallet files can get lost, stolen, or deleted accidentally just like any other files in the digital form.
However, users can use sound security strategies to protect their cash. Alternatively, you could choose the service providers who offer high-level security, as well as insurance against loss or theft.
We provide latest information on Bitcoin brokers and online trading platforms on our website. Please visit our website to check out the broker reviews in order to make the right choices.
submitted by amirkhoso to u/amirkhoso [link] [comments]

Beyond U2F and TOTP what other uses do you have for the slots and features on these keys?

I use it for gaining access to various MFA services like Google etc.
What other uses can the keys have?
Can I encrypt a drive? Bitcoin wallet? Files in a folder?
What other uses do you have?
submitted by 5footbanana to yubikey [link] [comments]

This site sells Wallet.dat files with "lost passwords" is this a scam, if so how is it setup? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Restore old .wallet file (x-post from /r/Bitcoin)

Restore old .wallet file (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Offline backup of wallet files? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Years of Searching: Found Bitcoin Wallet. Data File Missing. Possible Conspiracy?

I sold a lot of runescape gold for bitcoin back in 2010/2011 as a young teenager. I also did a bit of mining. I can't remember the exact amount, but I believe I had around 500 bitcoin in 2011. At the time, it was only worth a few hundred dollars, which was still a lot for me back then. It was my pride and joy. At some point in 2011, my harddrive corrupted and my computer was inaccessible. I paid a hundred or so dollars at best buy to get it fixed. They were unable to do so. I searched the internet for answers to no avail. My birthday came around and I got a new laptop. I kinda just called the old laptop a complete loss. In 2012 I moved off for college. I honesly wasn't even thinking about bitcoin that entire year. That was until my second semester in college, the tail end of 2012. Bitcoin was soaring. Word was getting around that it was at $10/btc. At the time, this was actually huge. A lot of people started cashing out here, believe it or not. It was at this time that I remembered the old laptop. The bitcoin I had was now worth around $5k. I still had no idea how to recover it, but I knew I needed to get that laptop when I went back home. I go home for the holidays and ask about it. My parents had cleaned up house and said they threw it away as they thought it was broken. I was heartbroken. As a broke college student, that $5k was gonna really come in handy. I basically signed that bitcoin off completely after that. It was confirmed trashed.
Fast forward a few years. Christmas 2017. Bitcoin is soaring out of control. Now at $15k/btc. Everyone is talking about it. It became a topic at the dinner table. I told everyone about how I once had 500 BTC but it was lost on an old, corrupted, laptop that was thrown away. My dad is fantasizing about how rich we'd be now. He was very frustrated at the idea of literally throwing it away. It was at this point my sister's husband says that my dad gave him a laptop amongst other old electronics back then and that he thinks he still has it. We literally ended the dinner right then and there as I demanded we drive to his house. We search all over to no avail. He thinks he might have actually thrown it away as well... The loss is felt all over again.
Fast forward. March 2020. Things really haven't worked out for me in life. I'm broke. I'm out of a job at the moment due to corona. Idk how I'm ever gonna get ahead. I have random nights where I beat myself up for not being smarter as a teen. Surely there was a simple solution to a corrupt harddrive. Why did I smoke so much damn weed? Why did my dad have to give it away? Why did my sister's husband have to throw it away? Whyyyyyyyy. My sister calls me. She says she found my laptop. Holy. Shit. I drive over and power it up at her house. It turns on flawlessly... Everything is there... All my files... No corrupt harddrive anymore... What the fuck... I open bitcoin. Error. I search through all the files. The wallet is missing. "Wallet.dat" is gone. "Wallet.cpp" and "wallet.h" are there, but not the data file. What the fuck is going on. There's no way my sister did anything, she is clueless with computers. Her husband is a web developer though... Maybe he fixed it and stole the wallet. Maybe that's why they've had a huge upgrade in their life in the past year... I ask my sister if her husband did anything and she says not that she knows of. Why would she tell me about it then? Surely she would know if her husband acquire millions in bitcoin? Was this her way of telling me without actually telling me? She knows I've fallen on tough times. Does she feel guilty? I confront her husband and he has no idea what I'm talking about. I feel like I'm acting crazy now. Was I hacked in the past and had my wallet stolen? Did the best buy person steal it? I seriously think it was her husband. As far as I know, he still works the same job, but they've bought a huge house, multiple cars, and lived a lavish lifestyle all in the past year.
I'm losing my mind here. My sister acts clueless. I feel like a crazy horrible person to even accuse them of doing that, but here I am... seriously questioning them now. I just don't know what to do from here. Do I call the police? I don't even know if I technically owned that bitcoin. I'm just so confused by everything right now. If her husband found the laptop in 2017 and cashed out, he would have made at least $7 million. That's enough to make ANYONE turn slimy. Hell, part of me doesn't even blame him. I just want to know what the fuck happened. It is driving me absolutely insane.
Does anyone have any advice here? And if, by chance, said husband reads this, if you stole the btc just give me some sign to ease my mind. Anything. I just want to know. If you didn't steal it, I'm sincerely sorry, but I hope you understand why I would accuse you.
submitted by 123848912384 to Bitcoin [link] [comments]

I found a lot of bitcoin. What should I do now.

So a few days ago I heard about bitcoin in the news. As soon as I heard about it, I remembered back to when I was mining in around 2011ish with some of my buds. So I wanted to see if I still had any, and if any was worth anything.
I went to my attic, where I luckily had the old laptop that had the bitcoin wallet files on it. I let the bitcoin core software program sync and download all the transactions from the time since I last used it. It just finished an hour ago and the wallet is showing around 1200 bitcoin.
I saw the current price... and I don't know what to do. If i'm not doing something wrong... that's a lot of money. Do I sell it? Hold it? Please someone help me I am going crazy with this.
submitted by bitcoinwhatdoido to Bitcoin [link] [comments]

Found a 2014 file on my computer called bitcoin wallet private key backup. It's just a text file: 4972 characters, and every 100 characters or so has a forward slash.

Don't think I have any significant amount of funds in this wallet, but am curious just what kind of a back up I am looking at. Ideas?
submitted by qualia8 to Bitcoin [link] [comments]

FAQ about Bitcoin(3)

Transactions FMZ
Why do I have to wait for confirmation?
Receiving notification of a payment is almost instant with Bitcoin. However, there is a delay before the network begins to confirm your transaction by including it in a block. A confirmation means that there is a consensus on the network that the bitcoins you received haven't been sent to anyone else and are considered your property. Once your transaction has been included in one block, it will continue to be buried under every block after it, which will exponentially consolidate this consensus and decrease the risk of a reversed transaction. Each confirmation takes between a few seconds and 90 minutes, with 10 minutes being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take much longer. Every user is free to determine at what point they consider a transaction sufficiently confirmed, but 6 confirmations is often considered to be as safe as waiting 6 months on a credit card transaction.
How much will the transaction fee be?
Transactions can be processed without fees, but trying to send free transactions can require waiting days or weeks. Although fees may increase over time, normal fees currently only cost a tiny amount. By default, all Bitcoin wallets listed on http://Bitcoin.org add what they think is an appropriate fee to your transactions; most of those wallets will also give you chance to review the fee before sending the transaction.
Transaction fees are used as a protection against users sending transactions to overload the network and as a way to pay miners for their work helping to secure the network. The precise manner in which fees work is still being developed and will change over time. Because the fee is not related to the amount of bitcoins being sent, it may seem extremely low or unfairly high. Instead, the fee is relative to the number of bytes in the transaction, so using multisig or spending multiple previously-received amounts may cost more than simpler transactions. If your activity follows the pattern of conventional transactions, you won't have to pay unusually high fees.
What if I receive a bitcoin when my computer is powered off?
This works fine. The bitcoins will appear next time you start your wallet application. Bitcoins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the network. If you are sent bitcoins when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the bitcoins will eventually appear as if they were just received in real time. Your wallet is only needed when you wish to spend bitcoins.
What does "synchronizing" mean and why does it take so long?
Long synchronization time is only required with full node clients like Bitcoin Core. Technically speaking, synchronizing is the process of downloading and verifying all previous Bitcoin transactions on the network. For some Bitcoin clients to calculate the spendable balance of your Bitcoin wallet and make new transactions, it needs to be aware of all previous transactions. This step can be resource intensive and requires sufficient bandwidth and storage to accommodate the full size of the block chain. For Bitcoin to remain secure, enough people should keep using full node clients because they perform the task of validating and relaying transactions.
Mining FMZ
What is Bitcoin mining?
Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as "mining" as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins. Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the last bitcoin is issued.
How does Bitcoin mining work?
Anybody can become a Bitcoin miner by running software with specialized hardware. Mining software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created bitcoins issued into existence according to a fixed formula.
For new transactions to be confirmed, they need to be included in a block along with a mathematical proof of work. Such proofs are very hard to generate because there is no way to create them other than by trying billions of calculations per second. This requires miners to perform these calculations before their blocks are accepted by the network and before they are rewarded. As more people start to mine, the difficulty of finding valid blocks is automatically increased by the network to ensure that the average time to find a block remains equal to 10 minutes. As a result, mining is a very competitive business where no individual miner can control what is included in the block chain.
The proof of work is also designed to depend on the previous block to force a chronological order in the block chain. This makes it exponentially difficult to reverse previous transactions because this requires the recalculation of the proofs of work of all the subsequent blocks. When two blocks are found at the same time, miners work on the first block they receive and switch to the longest chain of blocks as soon as the next block is found. This allows mining to secure and maintain a global consensus based on processing power.
Bitcoin miners are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the Bitcoin network because all Bitcoin nodes would reject any block that contains invalid data as per the rules of the Bitcoin protocol. Consequently, the network remains secure even if not all Bitcoin miners can be trusted.
Isn't Bitcoin mining a waste of energy?
Spending energy to secure and operate a payment system is hardly a waste. Like any other payment service, the use of Bitcoin entails processing costs. Services necessary for the operation of currently widespread monetary systems, such as banks, credit cards, and armored vehicles, also use a lot of energy. Although unlike Bitcoin, their total energy consumption is not transparent and cannot be as easily measured.
Bitcoin mining has been designed to become more optimized over time with specialized hardware consuming less energy, and the operating costs of mining should continue to be proportional to demand. When Bitcoin mining becomes too competitive and less profitable, some miners choose to stop their activities. Furthermore, all energy expended mining is eventually transformed into heat, and the most profitable miners will be those who have put this heat to good use. An optimally efficient mining network is one that isn't actually consuming any extra energy. While this is an ideal, the economics of mining are such that miners individually strive toward it.
How does mining help secure Bitcoin? FMZ
Mining creates the equivalent of a competitive lottery that makes it very difficult for anyone to consecutively add new blocks of transactions into the block chain. This protects the neutrality of the network by preventing any individual from gaining the power to block certain transactions. This also prevents any individual from replacing parts of the block chain to roll back their own spends, which could be used to defraud other users. Mining makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks following this transaction.
What do I need to start mining?
In the early days of Bitcoin, anyone could find a new block using their computer's CPU. As more and more people started mining, the difficulty of finding new blocks increased greatly to the point where the only cost-effective method of mining today is using specialized hardware. You can visit BitcoinMining.com for more information.
Security FMZ
Is Bitcoin secure?
The Bitcoin technology - the protocol and the cryptography - has a strong security track record, and the Bitcoin network is probably the biggest distributed computing project in the world. Bitcoin's most common vulnerability is in user error. Bitcoin wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.
Hasn't Bitcoin been hacked in the past?
The rules of the protocol and the cryptography used for Bitcoin are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Bitcoin software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Bitcoin is gaining maturity.
There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Bitcoin itself being hacked, nor imply inherent flaws in Bitcoin; just like a bank robbery doesn't mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, hardware wallets, and multi-signature transactions.
Could users collude against Bitcoin? FMZ
It is not possible to change the Bitcoin protocol that easily. Any Bitcoin client that doesn't comply with the same rules cannot enforce their own rules on other users. As per the current specification, double spending is not possible on the same block chain, and neither is spending bitcoins without a valid signature. Therefore, it is not possible to generate uncontrolled amounts of bitcoins out of thin air, spend other users' funds, corrupt the network, or anything similar.
However, powerful miners could arbitrarily choose to block or reverse recent transactions. A majority of users can also put pressure for some changes to be adopted. Because Bitcoin only works correctly with a complete consensus between all users, changing the protocol can be very difficult and requires an overwhelming majority of users to adopt the changes in such a way that remaining users have nearly no choice but to follow. As a general rule, it is hard to imagine why any Bitcoin user would choose to adopt any change that could compromise their own money.
Is Bitcoin vulnerable to quantum computing?
Yes, most systems relying on cryptography in general are, including traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Bitcoin, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all Bitcoin users.
FMZ
submitted by FmzQuant to u/FmzQuant [link] [comments]

FAQ about Bitcoin(3)

Transactions FMZ
Why do I have to wait for confirmation?
Receiving notification of a payment is almost instant with Bitcoin. However, there is a delay before the network begins to confirm your transaction by including it in a block. A confirmation means that there is a consensus on the network that the bitcoins you received haven't been sent to anyone else and are considered your property. Once your transaction has been included in one block, it will continue to be buried under every block after it, which will exponentially consolidate this consensus and decrease the risk of a reversed transaction. Each confirmation takes between a few seconds and 90 minutes, with 10 minutes being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take much longer. Every user is free to determine at what point they consider a transaction sufficiently confirmed, but 6 confirmations is often considered to be as safe as waiting 6 months on a credit card transaction.
How much will the transaction fee be?
Transactions can be processed without fees, but trying to send free transactions can require waiting days or weeks. Although fees may increase over time, normal fees currently only cost a tiny amount. By default, all Bitcoin wallets listed on http://Bitcoin.org add what they think is an appropriate fee to your transactions; most of those wallets will also give you chance to review the fee before sending the transaction.
Transaction fees are used as a protection against users sending transactions to overload the network and as a way to pay miners for their work helping to secure the network. The precise manner in which fees work is still being developed and will change over time. Because the fee is not related to the amount of bitcoins being sent, it may seem extremely low or unfairly high. Instead, the fee is relative to the number of bytes in the transaction, so using multisig or spending multiple previously-received amounts may cost more than simpler transactions. If your activity follows the pattern of conventional transactions, you won't have to pay unusually high fees.
What if I receive a bitcoin when my computer is powered off?
This works fine. The bitcoins will appear next time you start your wallet application. Bitcoins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the network. If you are sent bitcoins when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the bitcoins will eventually appear as if they were just received in real time. Your wallet is only needed when you wish to spend bitcoins.
What does "synchronizing" mean and why does it take so long?
Long synchronization time is only required with full node clients like Bitcoin Core. Technically speaking, synchronizing is the process of downloading and verifying all previous Bitcoin transactions on the network. For some Bitcoin clients to calculate the spendable balance of your Bitcoin wallet and make new transactions, it needs to be aware of all previous transactions. This step can be resource intensive and requires sufficient bandwidth and storage to accommodate the full size of the block chain. For Bitcoin to remain secure, enough people should keep using full node clients because they perform the task of validating and relaying transactions.
Mining FMZ
What is Bitcoin mining?
Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as "mining" as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins. Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the last bitcoin is issued.
How does Bitcoin mining work?
Anybody can become a Bitcoin miner by running software with specialized hardware. Mining software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created bitcoins issued into existence according to a fixed formula.
For new transactions to be confirmed, they need to be included in a block along with a mathematical proof of work. Such proofs are very hard to generate because there is no way to create them other than by trying billions of calculations per second. This requires miners to perform these calculations before their blocks are accepted by the network and before they are rewarded. As more people start to mine, the difficulty of finding valid blocks is automatically increased by the network to ensure that the average time to find a block remains equal to 10 minutes. As a result, mining is a very competitive business where no individual miner can control what is included in the block chain.
The proof of work is also designed to depend on the previous block to force a chronological order in the block chain. This makes it exponentially difficult to reverse previous transactions because this requires the recalculation of the proofs of work of all the subsequent blocks. When two blocks are found at the same time, miners work on the first block they receive and switch to the longest chain of blocks as soon as the next block is found. This allows mining to secure and maintain a global consensus based on processing power.
Bitcoin miners are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the Bitcoin network because all Bitcoin nodes would reject any block that contains invalid data as per the rules of the Bitcoin protocol. Consequently, the network remains secure even if not all Bitcoin miners can be trusted.
Isn't Bitcoin mining a waste of energy?
Spending energy to secure and operate a payment system is hardly a waste. Like any other payment service, the use of Bitcoin entails processing costs. Services necessary for the operation of currently widespread monetary systems, such as banks, credit cards, and armored vehicles, also use a lot of energy. Although unlike Bitcoin, their total energy consumption is not transparent and cannot be as easily measured.
Bitcoin mining has been designed to become more optimized over time with specialized hardware consuming less energy, and the operating costs of mining should continue to be proportional to demand. When Bitcoin mining becomes too competitive and less profitable, some miners choose to stop their activities. Furthermore, all energy expended mining is eventually transformed into heat, and the most profitable miners will be those who have put this heat to good use. An optimally efficient mining network is one that isn't actually consuming any extra energy. While this is an ideal, the economics of mining are such that miners individually strive toward it.
How does mining help secure Bitcoin? FMZ
Mining creates the equivalent of a competitive lottery that makes it very difficult for anyone to consecutively add new blocks of transactions into the block chain. This protects the neutrality of the network by preventing any individual from gaining the power to block certain transactions. This also prevents any individual from replacing parts of the block chain to roll back their own spends, which could be used to defraud other users. Mining makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks following this transaction.
What do I need to start mining?
In the early days of Bitcoin, anyone could find a new block using their computer's CPU. As more and more people started mining, the difficulty of finding new blocks increased greatly to the point where the only cost-effective method of mining today is using specialized hardware. You can visit BitcoinMining.com for more information.
Security FMZ
Is Bitcoin secure?
The Bitcoin technology - the protocol and the cryptography - has a strong security track record, and the Bitcoin network is probably the biggest distributed computing project in the world. Bitcoin's most common vulnerability is in user error. Bitcoin wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.
Hasn't Bitcoin been hacked in the past?
The rules of the protocol and the cryptography used for Bitcoin are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Bitcoin software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Bitcoin is gaining maturity.
There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Bitcoin itself being hacked, nor imply inherent flaws in Bitcoin; just like a bank robbery doesn't mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, hardware wallets, and multi-signature transactions.
Could users collude against Bitcoin? FMZ
It is not possible to change the Bitcoin protocol that easily. Any Bitcoin client that doesn't comply with the same rules cannot enforce their own rules on other users. As per the current specification, double spending is not possible on the same block chain, and neither is spending bitcoins without a valid signature. Therefore, it is not possible to generate uncontrolled amounts of bitcoins out of thin air, spend other users' funds, corrupt the network, or anything similar.
However, powerful miners could arbitrarily choose to block or reverse recent transactions. A majority of users can also put pressure for some changes to be adopted. Because Bitcoin only works correctly with a complete consensus between all users, changing the protocol can be very difficult and requires an overwhelming majority of users to adopt the changes in such a way that remaining users have nearly no choice but to follow. As a general rule, it is hard to imagine why any Bitcoin user would choose to adopt any change that could compromise their own money.
Is Bitcoin vulnerable to quantum computing?
Yes, most systems relying on cryptography in general are, including traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Bitcoin, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all Bitcoin users.
FMZ
submitted by FmzQuant to u/FmzQuant [link] [comments]

MFWTK. He found a Bitcoin wallet.dat file on an old drive. How does he check how much money is in it?

Edit: to clarify. My friend's brother got into Bitcoins for like 2 days. According to My friend's brother it contained a fraction of a fraction of a bitcoin. Which was mere cents at the time. Nobody remembers the exact amount but it is probably no bigger than 0.01. Which is about $80 today. Not big money at all.
My friend's brother eventually moved to a different country and my friend recently took his old computer to salvage the hard drive. And he found a folder on origin labeled "Bitcoin". Obviously it isn't big money but he feels compelled to give his brother his money. Or at least buy the bitcoins.
submitted by oshaboy to myfriendwantstoknow [link] [comments]

Craig Wright. I have a deal for you.

Hi Craig Wright Your friend Dave Kleiman (aka Satoshi) presumably encrypted his bitcoin wallet(s) with a password, right? Who wouldn't? And when Dave passed away and you got hold of the encrypted files (worth $$zillions), you then spent the last few years desperately trying to crack the encryption used for the bitcoin wallet files. Sadly (for you), you have been unsuccessful, even though you created that supercomputer for that very purpose. That is why you have the coins 'in a trust'. Yes, you feel that you own the coins, but you cannot spend them, nor obtain the private keys. If only you could decrypt those damned files! I'm willing to help you. I'm even willing to negotiate on my normal 20% success fee :) You may contact me in confidence. Cheers Dave Bitcoin walletrecoveryservices.com
submitted by davebitcoin to Bitcoin [link] [comments]

Famous Bitcoin Skeptic Peter Schiff Loses Holdings As Wallet File Gets Corrupted

Famous Bitcoin Skeptic Peter Schiff Loses Holdings As Wallet File Gets Corrupted submitted by saleenasmith to TheCoinRepublic [link] [comments]

Recover Bitcoin/altcoins private key using hex editor from corrupt wallet.dat file. Will not work for encrypted wallets

Recover Bitcoin/altcoins private key using hex editor from corrupt wallet.dat file. Will not work for encrypted wallets submitted by suhel29 to CryptoCurrencies [link] [comments]

How to Merge Bitcoin Wallet Files Bitcoin Wallet.dat with 2000 BTC Balance - YouTube how to restore bitcoin wallet from an old file or drive How to backup bitcoin wallet How to create bitcoin wallet BitGo

File extension dat is also associated with the Bitcoin P2P payment service used to operate with no central authority or banks, managing transactions and the issuing of bitcoins is carried out collectively by the network.. This specific wallet.dat file stores transaction data and all other related information (keys, metadata, options) about your Bitcoin activity. Once the wallet file is encrypted you can now backup this file. 1. Open your wallet, go to File >> Save copy. Name your wallet to anything and store it in different location. You can save this file on a USB drive or an external hard disk and keep it offline. 2. The second method is directly copying the wallet file from the Electrum folder. Exporting your Bitcoin.com Wallet. To export your Bitcoin.com wallet private keys by file/text, please follow the steps below: Open your Bitcoin.com app and select the wallet you wish to export. Next tap on the settings cog in the top right of your screen. Select "More Options". Now select "Export Wallet" from the list. the official bitcoin wallet of. create account .bitcoinwallet.com . trusted. nearly a million users have relied on bitcoinwallet.com as their official bitcoin wallet since 2014. we are regulated and based in the united states of america. free between users. send and recieve bitcoin with any bitcoinwallet.com user instantly with no fees. ... The wallet.dat file is located in the Bitcoin data directory and may be encrypted with a password. It is intended that a wallet file be used on only one installation of Bitcoin at a time. Attempting to clone a wallet file for use on multiple computers will result in "weird behavior". The format of this file is Berkeley DB.

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How to Merge Bitcoin Wallet Files

Bitcoin How to import your old wallet into new one tutorial works 100% Recovered 1.7 BTC - Duration: 8:26. XOOMdotWS 10,015 views Using salvagewallet to save a corrupt Bitcoin Wallet file - Duration: 7:55. Bitcoin Daytrader 1,316 views. 7:55. How Bitcoin Wallets Work (Public & Private Key Explained) - Duration: 4:06. You can buy bitcoins at https://btcdirect.eu/ In this video we will show you how to create a bitcoin wallet on your computer. Make sure that your computer is... Bitcoin Wallet.dat with 2000 BTC Balance. Last Receive : 2020-09-21 08:35 Last Send : 2016-12-27 17:47 Final Balance : 2000.00007129 BTC Wallet in Blockchain... In this video I talk about possible ways to merge bitcoin wallet files. I also discus about how the developers are talking about adding a protocol to the client its self. Twitter: https://twitter ...

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