Address bitFlyer USA

Secure paper wallet tutorial

This is my handout for paranoid people who want a way to store bitcoin safely. It requires a little work, but this is the method I use because it should be resistant to risks associated with:
  1. Bad random number generators
  2. Malicious or flawed software
  3. Hacked computers
If you want a method that is less secure but easier, skip to the bottom of this post.
The Secure Method
  1. Download bitaddress.org. (Try going to the website and pressing "ctrl+s")
  2. Put the bitaddress.org file on a computer with an operating system that has not interacted with the internet much or at all. The computer should not be hooked up to the internet when you do this. You could put the bitaddress file on a USB stick, and then turn off your computer, unplug the internet, and boot it up using a boot-from-CD copy of linux (Ubuntu or Mint for example). This prevents any mal-ware you may have accumulated from running and capturing your keystrokes. I use an old android smart phone that I have done a factory reset on. It has no sim-card and does not have the password to my home wifi. Also the phone wifi is turned off. If you are using a fresh operating system, and do not have a connection to the internet, then your private key will probably not escape the computer.
  3. Roll a die 62 times and write down the sequence of numbers. This gives you 2160 possible outcomes, which is the maximum that Bitcoin supports.
  4. Run bitaddress.org from your offline computer. Input the sequence of numbers from the die rolls into the "Brain Wallet" tab. By providing your own source of randomness, you do not have to worry that the random number generator used by your computer is too weak. I'm looking at you, NSA ಠ_ಠ
  5. Brain Wallet tab creates a private key and address.
  6. Write down the address and private key by hand or print them on a dumb printer. (Dumb printer means not the one at your office with the hard drive. Maybe not the 4 in 1 printer that scans and faxes and makes waffles.) If you hand copy them you may want to hand copy more than one format. (WIF and HEX). If you are crazy and are storing your life savings in Bitcoin, and you hand copy the private key, do a double-check by typing the private key back into the tool on the "Wallet Details" tab and confirm that it recreates the same public address.
  7. Load your paper wallet by sending your bitcoin to the public address. You can do this as many times as you like.
  8. You can view the current balance of your paper wallet by typing the public address into the search box at blockchain.info
  9. If you are using an old cell phone or tablet do a factory reset when you are finished so that the memory of the private keys is destroyed. If you are using a computer with a boot-from-CD copy of linux, I think you can just power down the computer and the private keys will be gone. (Maybe someone can confirm for me that the private keys would not be able to be cached by bitaddress?)
  10. To spend your paper wallet, you will need to either create an offline transaction, or import the private key into a hot wallet. Creating an offline transaction is dangerous if you don't know what you are doing. Importing to a client side wallet like Bitcoin-Qt, Electrum, MultiBit or Armory is a good idea. You can also import to an online wallet such as Blockchain.info or Coinbase.
Trusting bitaddress.org
The only thing you need bitaddress.org to do is to honestly convert the brainwallet passphrase into the corresponding private key and address. You can verify that it is doing this honestly by running several test passphrases through the copy of bitaddress that you plan on using, and several other brainwallet generators. For example, you could use the online version of bitaddress, and brainwallet and safepaperwallet and bitcoinpaperwallet. If you are fancy with the linux command line, you can also try "echo -n my_die_rolls | sha256sum". The linux operating system should reply with the same private key that bitaddress makes. This protects you from a malicious paper wallet generator.
Trusting your copy of bitaddress.org
Bitaddress publishes the sha1 hash of the bitaddress.org website at this location:
https://www.bitaddress.org/pgpsignedmsg.txt
The message is signed by the creator, pointbiz. I found his PGP fingerprint here:
https://github.com/pointbiz/bitaddress.org/issues/18
"527B 5C82 B1F6 B2DB 72A0 ECBF 8749 7B91 6397 4F5A"
With this fingerprint, you can authenticate the signed message, which gives you the hash of the current bitaddress.org file. Then you can hash your copy of the file and authenticate the file.
I do not have a way to authenticate the fingerprint itself, sorry. According to the website I linked to, git has cryptographic traceability that would enable a person to do some research and authenticate the fingerprint. If you want to go that far, knock yourself out. I think that the techniques described in this document do not really rely on bitaddress being un-corrupt. Anyway, how do we know pointbiz is a good guy? ;-)
There are a lot of skilled eyes watching bitaddress.org and the signed sha1 hash. To gain the most benefit from all of those eyes, it's probably worthwhile to check your copy by hashing it and comparing to the published hash.
"But we aren't supposed to use brainwallets"
You are not supposed to use brainwallets that have predictable passphrases. People think they are pretty clever about how they pick their passphrases, but a lot of bitcoins have been stolen because people tend to come up with similar ideas. If you let dice generate the passphrase, then it is totally random, and you just need to make sure to roll enough times.
How to avoid spending your life rolling dice
When I first started doing this, I rolled a die 62 times for each private key. This is not necessary. You can simply roll the die 62 times and keep the sequence of 62 numbers as a "seed". The first paper address you create would use "my die rolls-1" as the passphrase, the second would be "my die rolls-2" and so on. This is safe because SHA256 prevents any computable relationship between the resulting private key family.
Of course this has a certain bad security scenario -- if anyone obtains the seed they can reconstruct all of your paper wallets. So this is not for everyone! On the other hand, it also means that if you happen to lose one of your paper wallets, you could reconstruct it so long as you still had the seed.
One way to reduce this risk is to add an easy to remember password like this: "my die rolls-password-1".
If you prefer, you can use a technique called diceware to convert your die rolls to words that still contain the same quantity of entropy, but which could be easier to work with. I don't use diceware because it's another piece of software that I have to trust, and I'm just copy/pasting my high entropy seed, so I don't care about how ugly it is.
Why not input the dice as a Base 6 private key on the Wallet Details tab?
Two reasons. First of all, this option requires that you roll the die 99 times, but you do not get meaningful additional protection by rolling more than 62 times. Why roll more times if you don't have to? Second, I use the "high entropy seed" method to generate multiple private keys from the same die rolls. Using the Base 6 option would require rolling 99 times for every private key.
I'm a big nerd with exotic dice. How many times to roll?
Put this formula in Excel to get the number of times to roll: "=160*LOG(2,f)" where f = number of faces on the die. For example, you would roll a d16 40 times. By the way, somewhat unbelievably casino dice are more fair than ordinary dice
The "Change address" problem:
You should understand change addresses because some people have accidentally lost money by not understanding it.
Imagine your paper wallet is a 10 dollar bill. You use it to buy a candy bar. To do this you give the cashier the entire 10 dollar bill. They keep 1 dollar and give you 9 dollars back as change.
With Bitcoin, you have to explicitly say that you want 9 dollars back, and you have to provide an address where it should go to. If you just hand over the 10 dollar bill, and don't say you want 9 dollars back, then the miner who processes the transaction gives 1 dollar to the store and keeps the remainder themselves.
Wallet software like Bitcoin-Qt handles this automatically for you. They automatically make "change addresses" and they automatically construct transactions that make the change go to the change address.
There are three ways I know of that the change problem can bite you:
  1. You generate a raw transaction by hand, and screw up. If you are generating a transaction "by hand" with a raw transaction editor, you need to be extra careful that your outputs add up to the same number as your inputs. Otherwise, the very lucky miner who puts your transaction in a block will keep the difference.
  2. You import a paper wallet into a wallet software and spend part of it, and then think that the change is in the paper wallet. The change is not in the paper wallet. It is in a change address that the wallet software generated. That means that if you lose your wallet.dat file you will lose all the change. The paper wallet is empty.
  3. You import a paper wallet into a wallet software and spend part of it, and then think that the change is in the change address that the wallet software generated. If the transaction did not need to consume all of the "outputs" used to fund the paper wallet, then there could be some unspent outputs still located at the address of the paper wallet. If you destroyed the paper wallet, and destroyed the copy of the private key imported to the wallet software, then you could not access this money. (E.g. if you restored the software wallet from its seed, thinking all of the money was moved to the wallet-generated change addresses.)
For more on this, see here
The hot paper wallet problem
Your bitcoin in your paper wallet are secure, so long as the piece of paper is secure, until you go to spend it. When you spend it, you put the private key onto a computer that is connected to the internet. At this point you must regard your paper wallet address as hot because the computer you used may have been compromised. It now provides much less protection against theft of your coins. If you need the level of protection that a cold paper wallet provides, you need to create a new one and send your coins to it.
Destroying your paper wallet address
Do not destroy the only copy of a private key without verifying that there is no money at that address. Your client may have sent change to your paper wallet address without you realizing it. Your client may have not consumed all of the unspent outputs available at the paper wallet address. You can go to blockchain.info and type the public address into the search window to see the current balance. I don't bother destroying my used/empty paper wallet addresses. I just file them away.
Encrypting your private key
BIP 0038 describes a standardized way to encrypt your paper wallet private key. A normal paper wallet is vulnerable because if anyone sees the private key they can take the coins. The BIP38 protocol is even resistant to brute force attacks because it uses a memory intensive encryption algorithm called scrypt. If you want to encrypt your wallets using BIP38, I recommend that you use bitcoinpaperwallet because they will let you type in your own private key and will encrypt it for you. As with bitaddress, for high security you should only use a local copy of this website on a computer that will never get connected to the internet.
Splitting your private key
Another option for protecting the private key is to convert it into multiple fragments that must be brought together. This method allows you to store pieces of your key with separate people in separate locations. It can be set up so that you can reconstitute the private key when you have any 2 out of the 3 fragments. This technique is called Shamir's Secret Sharing. I have not tried this technique, but you may find it valuable. You could try using this website http://passguardian.com/ which will help you split up a key. As before, you should do this on an offline computer. Keep in mind if you use this service that you are trusting it to work properly. It would be good to find other independently created tools that could be used to validate the operation of passguardian. Personally, I would be nervous destroying the only copy of a private key and relying entirely on the fragments generated by the website.
Looks like Bitaddress has an implementation of Shamir's Secret Sharing now under the "Split Wallet" tab. However it would appear that you cannot provide your own key for this, so you would have to trust bitaddress.
Durable Media
Pay attention to the media you use to record your paper wallet. Some kinds of ink fade, some kinds of paper disintegrate. Moisture and heat are your enemies.
In addition to keeping copies of my paper wallet addresses I did the following:
  1. Order a set of numeric metal stamps. ($10)
  2. Buy a square galvanized steel outlet cover from the hardware store ($1)
  3. Buy a sledgehammer from the hardware store
  4. Write the die rolls on the steel plate using a sharpie
  5. Use the hammer to stamp the metal. Do all the 1's, then all the 2's etc. Please use eye protection, as metal stamp may emit sparks or fly unexpectedly across the garage. :-)
  6. Use nail polish remover to erase the sharpie
Electrum
If you trust electrum you might try running it on an offline computer, and having it generate a series of private keys from a seed. I don't have experience with this software, but it sounds like there are some slick possibilities there that could save you time if you are working with a lot of addresses.
Message to the downvoters
I would appreciate it if you would comment, so that I can learn from your opinion. Thanks!
The Easy Method
This method is probably suitable for small quantities of bitcoin. I would not trust it for life-altering sums of money.
  1. Download the bitaddress.org website to your hard drive.
  2. Close your browser
  3. Disconnect from the internet
  4. Open the bitaddress.org website from your hard drive.
  5. Print a paper wallet on your printer
  6. Close your browser
submitted by moral_agent to BitcoinWallet [link] [comments]

I think I just lost 90BTC! Are they stolen?? Help!!!

Here's my wallet: https://blockchain.info/address/1781pfQvte9o9NsHwtgiwXjq6RegSKRAr5
It's a brain wallet with a pretty darn good passphrase
Why is my transfer grouped with another transfer of 87.999BTC?? I used a Xubuntu Live CD and generated the privkey from my passphrase using a downloaded html from bitaddress.org. I used MultiBit and exported my wallet to a file, then modified the file to contain my priv key, then I transferred 12BTC to my blockchain wallet. Then I deleted the wallet, closed MultiBit and shut down the PC. Are my bitcoins lost forever???
edit: still struggling. I've done a "cat /dev/sdb > usbstick.bin" and copied the casper-rw file directly. mounting the casper-rw file works and I browsed to ~/MultiBit. There's one wallet there that looks interesting, but I cannot read or copy it in any way...
$ ls ls: cannot access multibit-20130321171949.wallet: Input/output error log multibit-20130321232736.info multibit.blockchain multibit.properties multibit-20130321171949.wallet multibit-20130331160220.wallet multibit.info multibit.wallet
searching for org.bitcoin.production through the casper-rw gives me 3 hits.
I also extracted this from the casper-rw: multiBit.info,1 walletVersion,2 receive,1BndiDjH6eLsGajv5mzenNTx1z33hf9udT, property,walletDescription,Your%20wallet%20description property,walletFileLastModified,1363908467000 property,walletInfoFileLastModified,1363908467000 property,sendPerformPasteNow,false property,receiveLabel, property,walletBackupFile,%2Fhome%2Fxubuntu%2FMultiBit%2Fmultibit-20130321232754.wallet property,walletInfoFileSize,492 property,receiveAddress,1BndiDjH6eLsGajv5mzenNTx1z33hf9udT property,walletFileSize,104
edit2: when trying to read the wallet file from casper-rw, dmesg says: [ 7994.345782] EXT2-fs (loop1): error: ext2_lookup: deleted inode referenced: 64322
edit3: MultiBit is using bitcoinj, which stores the wallets in a protobuf format. I downloaded protobuf and the bitcoinj source, extracted the wallet.proto stucture and wrote a small C++ program that searches in the USB stick bin file for the string "\x0A\x16org.bitcoin.production", and tries to parse it as a protobuf wallet of size 8-50000 bytes. I found a couple of wallets, but only empty ones and my brainwallet. The structure with a header and reversed bytes that 4461462665 is refering to seems to conform with what I've read about how protobuf serializes data. I really think the wallet is lost. I'm going to quickly set up a sandbox that selected hackers can have a stab at. If anyone manages to recover the bitcoins, they are free to keep 30%.
edit4: TLDR; The story: I used a fresh MultiBit client, imported my brainwallet private key, made a 12btc transaction and then deleted the wallet. Turns out MultiBit picked up a 100BTC "input" and transferred the "change" (88btc) to the first key in my wallet (one generated by MultiBit before importing my own key). I have searched (hard!) for the key. I'm giving up, and will let the hackers of the internets take a stab.
edit5: I really think the bitcoins are lost. Looking at .wallet files from MultiBit, they all seem to store the private key in plain hex, prefixed with the string 1A 6E 08 01 12 20. I have searched for this string but all I could find was the wrong private key.
submitted by btcdamn2 to Bitcoin [link] [comments]

Can anyone help me import my private key?

I'm trying to get my coins out of an old MultiBit classic wallet. I fired up Multibit classic and tried to send the funds to a new wallet. Unfortunately, my password wouldn't work. Damn.
But! I found this script on multibit's support forums. https://multibit.org/help/v0.5/help_lostOrForgottenPassword.html
#!/bin/bash echo Usage: apply-guesses.sh [password CSV] [key file] echo Password file: $1 echo Key file: $2 for password in $( awk -F , -v OFS=' ' '{print $3}' $1 ); do echo ------ echo Attempting: $password... openssl enc -d -p -aes-256-cbc -a -in $2 -out recovered.key -pass pass:$password if [ $? -eq 0 ]; then echo "Success!"; break; else echo "Failed"; fi echo ------ done 
I ran the script using a csv of all my old bitcoin passwords and I got a success!
It returned this: (I changed all the numbers)
Attempting: password123 salt = 9823498243829374 key = 98237890238420938429830394850394 iv = 98743259384793847593844 Success! 
But when I tried that password it still said it was incorrect. :(
But! it also created a file called recovered.key. I opened up the file and it was a bunch of badly encoded gibberish symbols like this: '¦ÀÌÁïû꿽”ß/øZÄÑQÛ,i¹´$'
I read somewhere that multibit keys are base 58 encoded so I encoded the recovered.key base 58 style and it became much more legible. Now I have a string of letters and numbers that's 611 characters long and starts with a '3'. Is this my private key?
I've been trying to import it into a new wallet in MultiBit classic, but no luck so far. I exported a private key from a new empty wallet and it looks like this: (I changed the key for this post)
# KEEP YOUR PRIVATE KEYS SAFE ! # Anyone who can read this file can spend your bitcoin. # # Format: # [[]] # # The Base58 encoded private keys are the same format as # produced by the Satoshi client/ sipa dumpprivkey utility. # # Key createdAt is in UTC format as specified by ISO 8601 # e.g: 2011-12-31T16:42:00Z . The century, 'T' and 'Z' are mandatory # L1paCgWAYm2wzRfznmcoy5pbskdhShRVneAzBeuwaj244s7fr9nE 2017-09-04T21:54:32Z # End of private keys 
I swapped out the key in that wallet with my base58 recovered key, but it was a lot longer than this, and when I tried to import it it told me "Could not understand address in import file"
So... I have a really long string that I think is my private key, but I don't think it's in the right format. Also I might just be an idiot. Can anyone help me out?
submitted by GeorgeOfTheMountain to Bitcoin [link] [comments]

How to Trade Bitcoin Part 1: Getting Ready to Trade

The first part of our bitcoin trading guide series explains the basics of bitcoin and trading terminology. Instructions are also provided for buying bitcoin and getting ready to trade on BTC.sx. We originally produced the first part of this guide for our own traders to get started with our platform. However, after some really good feedback we thought we should share it publicly too. So please bear with us if it is quite orientated to our own platform. Future parts will be much more applicable to trading in general.
Here is what we have planned for the series:
1) Getting ready to trade (this post)
2) Making your first trade
3) Basics of technical analysis
4) Advanced TA
5) Developing a sustainable strategy
Please let us know if there are any topics you would like specifically covered and whether or not articles are the best format for learning.
Why should you listen to what we have to say?
Our CEO turned $100 into $200k by trading bitcoin, our COO previosuly worked at senior management level at Deutsche Bank and UBS, and one of our advisers has a Wall Street background as a Portfolio Manager and is a Chartered Market Technician.
http://i.imgur.com/G06P306.png
This article begins with an overview of bitcoin, how to buy bitcoin and how to manage risk. The remainder of the article focuses on understanding trading terminology and creating a bitcoin trading account on BTC.sx.
What is bitcoin?
Bitcoin is a digital currency that uses encryption, rules of mathematics and a decentralized network to control the creation of more bitcoins and verify transactions. Bitcoin was designed to operate as ‘digital gold’ — it resembles a commodity but can be used as a currency. Bitcoin can be traded for fiat currency, like dollars or pounds, creating opportunities to profit from trading price fluctuations.
http://i.imgur.com/hNnKxGE.png
Why is bitcoin so volatile?
Compared to the price of gold, the price of bitcoin has exhibited much larger price swings. Typically the price of gold will change by just a few percent each week, but bitcoin’s price often changes by 10% or more — even in a ‘flat’ market.
Volatility is generally considered a good thing by bitcoin traders because it creates opportunities to buy lower and sell higher than flat markets.
The primary reason why bitcoin is volatile is because it has a small market cap and low trading volume. Market cap is the number of units (bitcoin here) in circulation multiplied by the value (bitcoin price here).
For example, bitcoin has a market cap of about $3 billion vs $31 billion for the a gold ETF (GLD is the most popular American gold investment vehicle). Additionally, the daily average trading volume for bitcoin is about $12 million vs approximately $939 million for the gold ETF.
The result of this small market cap and low trading volume is that less trading less money is required to make a large difference in supply and demand.
For instance, if a trader wants to buy $3 million worth of bitcoin this represents 33% of the daily trading volume and would push the price up approximately 14%, at the time of writing. However, buying $3 million worth of the gold ETF is just 0.3% of the daily trading volume and is nothing compared to the hundreds of millions of trades that influence gold’s price.
http://i.imgur.com/NLtgVrX.png
Further information
The information we have provided about bitcoin is only the bare essentials a trader needs to know. If you are completely new to bitcoin, also consider exploring these external resources:
We Use Coins
Bitcoin.org
Bitcoin Wiki
2. How to Manage Risk
Risk of buying bitcoin
As discussed above, bitcoin is an extremely volatile asset. Besides increasing in value, bitcoin’s price can also dramatically fall. When buying bitcoin, never invest more than you can afford to lose.
You cannot lose more than you put in, so don’t put in more than you can afford to lose and you’ll be all right, even in the most negative case. - Rpietila, Bitcoin and commodity investor
Risk of trading bitcoin
Furthermore, investing more than one can afford to lose reduces a trader’s ability to make good decisions. In particular, there is a risk of ‘panic selling’ when the market declines slightly. Instead of holding throughout a market dip, someone who is over-invested may panic and sell-off their holdings for a low price — attempting to cut their losses. This tends to lead to losing more money when the market recovers and the trader buys back at a higher price.
http://i.imgur.com/yrQbCsI.png
Simply, the best way to manage your risk is to not invest more than you can afford to lose. At BTC.sx, losses cannot exceed your deposit — so simply make sure this is a comfortable amount for you to trade with.
3. Understand Basic Bitcoin Trading Terminology
Trading
Trading is the act of buying, selling or exchanging one asset for another. Exchanging Bitcoin for US dollars, for instance, is trading.
Position
A position is similar a trade, which can either be long (buying bitcoin) or short (selling bitcoin). Like a trade you profit from a long/buy position when the price rises; and you profit from a short/sell position when the price falls.
Unlike a trade, a position has an open and close. At BTC.sx you begin by depositing bitcoin. Then you may acquire more bitcoin or US dollars by opening a position. When the position is closed you are left with just more or less bitcoin than the value deposited — this depends on how profitable your position was.
Trading platform
A trading platform, like BTC.sx, is a place where traders go to enter positions. Unlike an exchange, it is uncommon for to use platforms for exchanging one asset for another. Typically trading platforms also include more advanced features, such as leverage.
Leverage
http://i.imgur.com/Aik56aI.jpg
Leverage is borrowing assets for the purposes of increasing potential trading returns. This is also known as margin trading.
Trading with 10x leverage on BTC.sx, allows you to deposit 1 bitcoin and trade with 10 bitcoins. When you are done trading (closing a position) you return the 10 bitcoin and keep any profits made.
For example, let’s say your trading has been going well and you are consistently making a 10% return each week. Trading with 1 bitcoin, your profit is 0.1 bitcoin. However, with 10 bitcoins your profit is 1 bitcoin — this is the power of leverage when used correctly.
Although leverage does also increase trading risk exposure, your losses can never exceed your deposit at BTC.sx. Furthermore, your risk of an exchange failure is reduced because you are trading with 9 bitcoins that belong to BTC.sx and only 1 bitcoin of your own.
Exchange
Unlike trading platforms, investors use exchanges to swap an asset for another. For example, Bitstamp allows investors to trade their local currency for Bitcoin, or vice versa. Exchanges are the main determinants of bitcoin’s price because they contain an order book.
At an exchange you can either be a market maker or a market taker.
Market maker
A market maker sets the price they wish to buy or sell at and waits for a market taker who agrees to that price.
Market taker
A market taker finds a market maker that is offering a desirable price and quantity then immediately trades with them.
Order book
An order book is a list investors wanting to buy and sell an asset at specified quantities and prices. These are the market makers. Below is an annotated explanation of a bitcoin exchange order book. Picture the order book as a very hectic auction and the concept should be easier to understand.
http://i.imgur.com/DuRYrnx.png
Sell orders: “Asks”
This part of the order book lists the prices and quantities investors wish to sell bitcoin at. Here the cheapest seller is offering 2.3467 bitcoin at a price of $244.58. As these investors are asking for a price to sell at, these are called asks.
Buy orders: “Bids”
This part of the order book lists the prices and quantities investors wish to buy bitcoin at. Here the most expensive buyer is willing to purchase 0.5 bitcoin at a price of $244.43. As these investors are bidding for a price to buy at, these are called bids.
Current bitcoin price
This is the last price at which bitcoin was exchanged for US dollars. Given that buyers will fulfill the cheapest ask, and sellers will fulfill the most expensive bid, the price will always fall between the the cheapest ask and most expensive bid.
In this example, the price is $244.39 — the same as the most expensive bid. This means that the last bitcoin trade was a market taker selling to a market maker. This is also a demonstration of a seller always wanting to sell to the highest bidder.
Order book depth
This depth graph visualizes the amount of asks and bids at various prices. The more bitcoins that are available at a price, the ‘deeper’ the graph is. Naturally, as sellers do not want to ask for cheap prices and buyers do not want to buy for expensive prices, the graph is normally shallow in the middle.
If the chart is one-sided, it suggests that the market may be feeling bullish or bearish. In the above example, a lot of investors want to sell at $245 which would make it difficult for the price to rise beyond that. Conversely, the shallow graph on the bid side shows not many people want to buy bitcoin at these prices. This is typical of a bearish market.
Order book execution
An important feature of BTC.sx is that the positions our users open/close make buys and sells on exchange order books. In practice, when our users click buy, US dollars is used to buy bitcoin from the order book bids. Conversely, when our users click sell, bitcoin is sold for US dollars from the order book asks.
http://i.imgur.com/1Dk8G0t.jpg
Why is this important?
Firstly, when you trade on BTC.sx you do so with leverage. This means you can have a larger impact in the market and move the price in your favour. In the above example using just 1.3 bitcoin at 10x leverage would create buy 13 bitcoin from the asks. This helps drives the price up because now the cheapest ask is $244.61. If the market sees this as a bullish sign then others may follow, sparking a price rally.
Secondly, order book execution means that BTC.sx does not trade against our users. Trading platforms that do not offer this execution are acting as market makers and stand to profit from their traders losing money. At BTC.sx we want our traders to be profitable so they can keep trading.
*4. How to Buy Bitcoin * As a bitcoin-only trading platform, BTC.sx only accepts bitcoin deposits. This allows you to begin trading in minutes and without verifying your identity.
If you do not yet own any bitcoin there are a number of places that bitcoin can be bought from, including:
Circle
Coinbase
LocalBitcoins
Click here to see other ways to buy bitcoin in each region of the world.
To store your bitcoin you will also need a wallet, such as MultiBit or Blockchain.info.
5. Create an Account on BTC.sx
Once you have bitcoin, you are ready to start trading. Head over to BTC.sx to begin the registration process.
1. Click ‘Sign Up’
http://i.imgur.com/Fikj8Nd.png
2. Enter your details and read and agree with the terms of service
http://i.imgur.com/AjnKzRY.png
3. Click on the email activation code
http://i.imgur.com/lz5yBqK.png
4. Login to your account
http://i.imgur.com/P6VJ0xm.png
5. Visit trade screen
http://i.imgur.com/WjGockR.png
6. Send a deposit to BTC.sx
You are now one step away from being ready to trade bitcoin. All that is required is to send a deposit by following these instructions:
1. Click on ‘Deposit’ in the trading screen
http://i.imgur.com/1TxpgUh.png
2. Send bitcoin to your wallet address
http://i.imgur.com/cTZim5t.png
If you do not know how to send bitcoin please contact your wallet provider for assistance.
Conclusion** ** You should now be in a position where you understand the basics of bitcoin, trading terminology and have an account on BTC.sx to begin trading.
In part 2 we will be covering fundamental analysis, the basics of technical analysis and how to make your first trade. Like us on Facebook or follow us on Twitter for future updates.
If you have not yet signed up for an account on BTC.sx click here. The registration process takes just two minutes and does not require any identity verification documents
submitted by BTC_sx to BitcoinMarkets [link] [comments]

My first experience with bitcoin was NOT positive :( + Questions

After seeing an interesting comment on /funny in which bitcoin currency is used to make tips across reddit I started to investigate and learn about the Bitcoin. I had heard about it before but I didn't know how it worked or what I had to do in order to use it.
A dozen Bitcoin Wiki entries later I download bitcoin-qt and create my first wallet. The system seemed very easy and straightforward and I had already started to apply for "free starter bitcoins" when I met "synchronization".
Now synchronization is not necessarily a deal breaker but it was annoying as hell. I'm using an old computer and it seemed as if it would take at least a day if not more to complete the whole process... and during that time my computer was getting slow as hell.
Now I'm quite a tech savy person and I know why in this P2P based system this is important, but for anyone else this would be unacceptable. Imagine elder people or not so tech savy persons trying out the system for the first time and noticing that they can't use it without occupying 2+ GiB of their HardDrive and having to wait a lot.
I did not complete the sync and tried to use the multibit instead. But since I had already applied to the Free starter bitcoins on some websites I wanted to keep my old wallet. I try to look for an import/export button but it seems that Bitcoin-qt doesn't support exportation and I needed to use a third party application called pywallet (command line!) to export my wallet and convert it into another plaintext format since the format used by bitcoin-qt was not supported by multibit.
And one would assume that the first thing you do when creating such a currency is to define a standard for the wallet and the applications. Again, I know how to use the command line but anyone who doesn't and who just wants to try out the system for the first time would be inmediately turned off by this limitation.
These are all issues that need to be fixed and addressed. Also, at the current situation it is much more comfortable and easier to set up an e-wallet than using standalone software on my computer. And if you ask me, it beats the purpose of creating a decentralized currency when in the end the most popular e-wallet services are going to hold most bitcoins and suppose a great security risk.
So I ask you: do you know any solutions to the above mentioned problems? Is there any way to reduce the impact by those hindrances?
And now to the questions:
Since I'm a very inquisitive mind and I'm still very much interested in bitcoins I would like to ask some questions I couldn't find properly answered in the wiki about the nature of the bitcoin system and how exactly it works.
I'd be very grateful if you could answer any of the following questions:
1. What exactly is a bitcoin? A string of text? A hash? A file with a string of text?
2. If I'm not mistaken, a bitcoin wallet is made of a public key and a private key. If I want to transfer my wallet from one program to another or a piece of paper... would I need to export or print out the strings of text that form the bitcoins itself or do I just need those two keys?
3. How does the bitcoin system know how much balance is inside an wallet/account. Does it typically ONLY check it against the chainblock or does it also make use of any bitcoin strings stored inside the wallet?
4. Cryptographically speaking... what happens when I transfer bitcoins?
Thank you!
*Please don't downvote me just because my first experience was negative. I'm still very interested and would like to learn a lot more. *
Edit: Thank you very much for all your answers! I can't reply to all of you (mainly because it's very late over here) but I feel that I understand the concept much better and also feel much more comfortable knowing that the only thing I ever need is my private and public key. It makes me care much less about software and wallet.data files, knowing that I can have everything I need written on piece of paper or saved in an encrypted file of my own. Then, when I need to spend bitcoins or check my balance I can use whatever software I deem best at the moment.
Thank you!
submitted by DanielTaylor to Bitcoin [link] [comments]

help with lost multibit wallet..

hello
lost my multibit examplename.wallet file because i formatted my computer. i do however have my "private key" backed up, and I know the previous account that I transferred the coins from. I think this means that I know the wallet address?
How can i get my bitcoins back? will happily throw some bitcoins to those who can help me get my bitcoins back.
submitted by sergserg to Bitcoin [link] [comments]

Importing Private keys into a QT based wallet, how is it done?

Before the fork I had been storing my tokens in MultiBit. I saw no need to incur a transaction fee to transfer those tokens into a QT compatible wallet format prior to the fork. So now I am here with multiple files that contain the private key(s) from those wallets.
I now need to import these keys into both my Bitcoin (Cash) and Bitcoin (Settlement) QT clients. What are the steps necessary to accomplish this?
I did find https://bitcointalk.org/index.php?topic=336404.0
Is this a safe method in which to perform the activity? I will be importing to Bitcoin ABC v0.14.6 & Bitcoin Unlimited v1.0.3.0
  1. Export private key from MultiBit without password (Done)
  2. edit file with some editor like Notepad++ (I'll probably just use Notepad, unless that is a bad idea?)
  3. copy only key - this is row without # ,and you must copy only key - no date and another symbols , (row indicates that it might be better to import to a spreadsheet?)
  4. then in BitCoin-Qt open from Help->Debug window ->Console (I am able to navigate to where the Console is not located)
  5. importprivkey [label] [rescan=true]
(Where is the information I copied from step 3? and also without the '<>')
(where label is name of owner - your name.; is this necessary? Do I need to provide a label? Can I leave it blank? And if I can leave it blank would I simply omit that the '[label]' argument?)
  1. And when press enter the your address with coins will appear in your addresses and in your balance.
Additionally, can this activity take place on a computer that is not connected to the applicable network? I am still waiting (1 year 40 weeks behind) for the Bitcoin (Settlement) wallet to download the chain (for some reason copying over of the pre-fork blocks did not take and now that the fork has occurred I do not want to try to start over or run the risk of re-installing).
Thank you for your assistance.
submitted by PilgramDouglas to btc [link] [comments]

[Guide] How to transfer your wallet from your computer to android.

I got tired of waiting and waiting for the whole blockchain to sync so I decided to move my dogecoins to my phone since the app does not need to download the whole chain. (Luckily there is a bounty for a electrum equivalent that will hopefully arrive soon.)
It is much much easier if you just transfer some funds to a new address on your android phone, but this tutorial is for those people like me who can't even get the dogecoin app to sync.
Surprisingly the whole process was very simple. Don't be put off by all the text or all the talk about security. I just want things to be accessible to beginners and to practice good habits. Root is not required.
Note: I am assuming you are using the official dogecoin-qt app and the Dogecoin Wallet app by langerhans.
Disclaimer: This will involve having your private key stored in plaintext. Proceed with caution and treat that file like you would a password. Do not share your private key with anyone.

Getting your private keys

A wallet comprises of public keys and private keys. Public keys are the addresses that you share, you can only use them for viewing. Private keys let you actually make transfers and are what makes you the owner of the wallet. Today we will be transferring those private keys to your phone. They will still be present on your computer unless you delete them, so keep that in mind security-wise.
You will have to replace everything in '<>' with your own values.
  1. Open the desktop app
  2. Open the wallet console by going to: Help -> Debug Window -> Console
  3. If your wallet is locked with a password, you'll need to unlock it by typing: "walletpassphrase 120".
  4. Get the private key for an address by typing: "dumpprivkey "
  5. Save the private key to a file.
  6. Repeat this for each address that you want to transfer over.
Please think about how much dogecoins you want to transfer over. Brarsh:
Do you need that much? What if you lose your device? Just like only keeping a small amount of cash in your wallet and most safe in the bank, only carry what you could conceivably use for that time without access to your main wallet.

Creating a backup file

Next we need to create a backup file so that we can import our addresses into the android app. The android app uses the same format for its backup files as MultiBit (A popular bitcoin app). A typical file looks like the following:
# KEEP YOUR PRIVATE KEYS SAFE! Anyone who can read this can spend your Bitcoins. Kwmxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 2013-06-22T18:36:35Z L1Sxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 2013-05-04T22:47:32Z Kxwxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 2013-05-08T00:58:28Z 
What we want to do is put our private keys in the following format: key date-of-address-creation, where the date is in the format YYYY-MM-DDTHH:MM:SSZ. Note the T and the Z. The android app needs the date so it knows how far back into the blockchain it needs to sync.
If you can't remember when you created the address, visit http://dogechain.info/address/YOURADDRESS and get the date of the earliest transaction. It says that the dates are approximate, so I'd just put 00:00:00 for the time.
You should now have a valid unencrypted backup of your wallet.

Importing the backup

  1. Transfer the backup to your android phone, placing it in your Download folder. It has to be put in the Download folder or else the dogecoin app won't find the backup. Make sure it has a name you'll remember later.
  2. Open the dogecoin app and click on: Back Up Keys -> Restore private keys. Click on the name of the backup and from the list that shows up, look for your backup, which should be unencrypted. Click Restore.
  3. Delete the backup in your Downloads folder. Remember, your private key is stored in plaintext in there, so it is important that you delete it. Delete the backup on your computer if it is there also.
  4. Wait for the app to sync completely. Your addresses will be added to the addresses that were already in the app, and your transactions should show up. If they do not, make sure that the date you put was correct and early enough.
  5. Go to Back up Keys > Back up private keys and create a backup. This time it will be encrypted with a password :). If you do not have a backup, you could lose all your coins if you lose your phone or the data on it.
  6. To the moon!

Terminology

I just got into dogecoin two days ago so correct me if any of this is wrong. Same thing with anything in the post :).
Blockchain/Dogechain: The blockchain is a ledger (record) of all the dogecoin transactions that have ever taken place. As of writing it is larger than 1GB in size. The blockchain is needed to find out how many funds you have in your wallet.
Wallet: A wallet is the digital equivalent of a real life wallet. It is where your money is tied to (It doesn't contain actual dogecoins, but someone else could explain that better than me). The wallet contains your addresses and your private keys, both which are needed to receive and send dogecoins respectively.

Sources

Getting your private key
Importing the key into the android app
submitted by cooper12 to dogecoin [link] [comments]

ELI5: How to protect my wallet and make a proper backup

Guys, Now that I'm getting more serious into Bitcoin, I don't want my coins lying around at the exchange or in various public-facing web-wallets where things can get out-of-hand (service disruptions, hackery, human error, etc)
I have a copy of multibit running on my mac and I've transfered most of my coins there.
What should I do next?
I'm basically running the default settings. My wallet states:
Filename: multibit Format: protobuf.2 Type: unencrypted 
I have a couple of receiving addresses and such.
Can you guys give me a rundown of what the risks are and how to mitigate them?
submitted by cakedaemon to Bitcoin [link] [comments]

Having trouble importing private keys back into a MultiBit Classic wallet.

I have what I believe is a backup of my private keys from a MultiBit Classic wallet. The format of the password protected file is exactly the same as the example here:
https://multibit.org/en/help/v0.5/help_exportingPrivateKeys.html#exportFileFormat
I'm getting the error: "Could not understand address in import file" when trying to import.
I've gone through the steps of de-crypting the file using openssl and while it seems to decrypt it using:
openssl enc -d -p -aes-256-cbc -a -in ./bitcoin.key -out bitcoin.key.txt
Output shows me a "salt=", "key=" etc. It also creates a file fine, but it's not particularly readable. It has various unreadable characters and looks nothing like an non-password protected key file.
Not exactly sure how to continue or where to turn to get this thing imported. I'm not even sure if it's the correct backup of the wallet I'm looking for, but it certainly is some type of private key backup.
Any help would be appreciated.
submitted by peteski3 to BitcoinWallet [link] [comments]

NEM Stake Auction Details: A Chance to Obtain a Stake!

Utopianfuture has revealed the details associated with the auction of the 155 stakes (made available from the removal of sockpuppets), quoted below:
NEM public auction explanation
155 NEM stakes will be put on a public auction (155 million NEM)
The auction will happen in Bitcoin blockchain and follow the multi unit auction format. http://en.wikipedia.org/wiki/Multiunit_auction
How does it happen if X stakes are put on the auction ?
  1. On the auction day, a Bitcoin escrow address will be revealed at a designated time.
  2. Each transaction to the escrow address will be considered a bid for 1 stake. Two transactions from the same address to the escrow address will be considered two separate bids.
  3. The auction will last at least 24 hours (but less than 36 hours).
  4. Bidders could monitor the bidding process in real time via Blockchain.info
  5. When the auction ends, X highest bidders (X biggest transactions) will win X stakes.
  6. We will refund all non-winning bids minus the transaction fee and a service fee. All winning bids will receive back the difference between the winning bid price and lowest winning bid price minus the transaction fee and a service fee. Service fee is for the escrow service (for tallying and refunding the bids).
  7. Example: there are 3 bids 1 btc, 1.2 btc and 2 btc and all are winning bids. Since 1 btc is the lowest winning bid price then bidders of 1.2 btc and 2 btc will win a stake and get a refund of 0.2 and 1 btc respectively.
  8. There is a limit of two bids for each sending address and taint analysis will be used on the escrow address to make sure no address wins more than 2 stakes.
  9. The sending address of the winning bid will be the identifier of the owner of the won stake. Therefore the winning bid sender should later provide a NEM address to receive the share via a signed message from the sending address. Signed message could be done via popular bitcoin wallets such as multibit, bitcoin-qt or blockchain.info.
  10. Bidding recommendation: bidders should consider placing only 1 bid if they want to buy 1 stake and placing the highest bid that they are willing to buy. Since the buying price for all stakes will be equal to the minimum winning bid, there is no risk of over-paying for a stake.
There will be 10 stakes offered in the first test-run auction in about 2 weeks or so (it will be held on Saturday-Sunday frame) and we plan to offer regular auctions every week until close to the official launch. (open Alpha should be released before the auction)
Let me know if you want to be the escrow for the auction, you should follow all the above rules but being able to set the service fee yourselves. The entire service fee will go to the escrow and he will hold the fund for the winning bidders until NEM officially launch.
Source.
submitted by TauMuon to nem [link] [comments]

Wallet formats

How many formats of wallet are there for bitcoin? I transferred some from an address generated by the original client to one generated by Multibit.
Now i decided to see if i could open this new file in the original client and of course quickly noticed that the file extension was different and that it wouldn't open.
So im curious how many are there? what are there pros and cons and which is the most future proof?
submitted by strategosInfinitum to Bitcoin [link] [comments]

BITCOIN FREE WALLET How to mine Bitcoins Como crear un monedero bitcoin usando multibit how to hack bitcoin address 2017 KeepKey - Setting up your Bitcoin Hardware Wallet for the First Time

Back to Table of Contents Verify message. To prove that a message really came from an owner of a Bitcoin address, get the person who claims to own the address to sign the message and send you the message with its signature. You can then use MultiBit HD to verify that the message was indeed signed with the address's private key. A Bitcoin address, a public address or just an address is a unique identifier that serves as a place to send Bitcoins. It is also sometimes called the receiving address and represents the source and destination of the payment in Bitcoins. You can share your BTC address with others and ask them to send Bitcoin to your address. It is very similar to your bank account number, which you use to ... Addresses can be generated at no cost by any user of Bitcoin. For example, using Bitcoin Core, one can click "New Address" and be assigned an address. It is also possible to get a Bitcoin address using an account at an exchange or online wallet service. There are currently two bitcoin address format in common use: Common Pay-to-Pubkey Hash ... Address. An address is the Bitcoin equivalent of a bank account. A Bitcoin address starts with a 1 or a 3, and is 27-34 alphanumeric characters in length. The address is generated by the public key. When sending Bitcoin, you specify a recipient address. Bitcoin cannot be sent without the private key for the sender's address. A Bitcoin invoice address, or simply invoice, is an identifier of 26-35 alphanumeric characters, beginning with the number 1, 3 or bc1 that represents a possible destination for a bitcoin payment. Invoices can be generated at no cost by any user of Bitcoin. It is also possible to get a Bitcoin invoice address using an account at an exchange or online wallet service.

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BITCOIN FREE WALLET

How to pay with Bitcoin using MultiBit HD and KeepKey You Can Recovery Your KeepKey if it is Lost or Stolen: See How Integrating my KeepKey hardware Bitcoin wallet with Mycelium for Android https://multibit.org/ this is the wallet you can use a differnt one if you like Make sure when you log on to bitcoinget you use that address below you get a ... This video was made to show you , how to mine bitcoins , easy and free with your own personal computer . You don't nead profesional tools or a high performance computer , just let your pc to do ... A walkthrough of how to create your first wallet with Hive Web, a human-friendly digital currency wallet for multiple platforms. Create one at hivewallet.com. Bitcoinwallet.com replaces bitcoin addresses with your name. We are the easiest to use and most secure bitcoin wallet service.

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