Everything You Should Know About Bitcoin Address Formats

Basic Bitcoin security guide

Hello,
This post is to give you a quick introduction into Bitcoin security. While nobody can guarantee you 100% security, I hope to mitigate some problems you can run into. This is the “20% of effort to get you to 80% safe”.
First of all, you have to determine how much money you want to hold in Bitcoin and how much effort are you willing to put in. If you are happy just holding a few dollars worth and don’t care if you lose them, that’s one approach to take. For everyone else, lets get started.
Password strength
A lot of the times how secure your money is will be determined by the strength of your password. Since in the worst case scenario we are talking about someone trying to brute force your wallet, casual online passwords are too weak. Under 10 characters is too weak. Common words and phrases are too weak. Adding one number to a password at the end is too weak.
Moreover, you can consider your password much weaker if you:
If you want a really strong password:
Wallet security
Now we are getting to the meat of things.
There are a number of wallets available to store your hard earned bitcoins. If you have a decent amount of coins to store, you should look into software wallets - BitcoinQT, MultiBit, Armory or Electrum. They are among the best place to store your money safely (provided your computer is secure as well). Chose one you think best suits you, install it and encrypt your wallet file with your strong password. You should take your wallet file and back it up (location of the file is different for different clients, so you have to do some research as to where to find that file). Back it up on a CD, safe USB drive or the like. Keep them safe. If you lose that file, you will lose your money.
A quick word on deterministic wallets. Electrum and Armory allow you to create wallets from a seed. If you use the same seed later, you can recreate your wallet on other machines. With deterministic wallets, you only need to keep that seed secure to have access to your money.
In comparison, in BitcoinQT's traditional wallet, every address you use is random, meaning that after you send 50-100 outgoing transactions your backups can be obsolete. Always keep an up-to-date backup of such wallet file if possible.
Okay, sometimes you need to have your Bitcoins with you when you leave your computer. In this case, you should look into either online or mobile wallets. A staple for both of those is Blockchain.info, but there are others to chose from.
A good rule of thumb with these is to not store more money in them than you can afford to lose. They are best used as a convenient way of accessing some money, not storing your savings. Online wallets are especially vulnerable to their servers getting hacked and people’s money getting stolen.
What to keep in mind while using online wallets:
  • Use a secure password (the more money you have in them the stronger the password should be)
  • Always keep a backup of your wallet in case you need to recover your money
  • Whenever possible, enable two factor authentication
  • Don’t use your online wallets from unsafe computers
Cold storage
Sometimes you want to store your bitcoins for a long time in a safe place. This is called “cold storage”. There are a few ways one can do this.
First of all, paper wallets. They are nice for giving people small bitcoin gifts, but also for long-term storage if properly used. What you want to do is generate and print them offline. You can save the linked page for example and run that offline. If you are really paranoid, you can put it on read-only media and access that from a different computer. For really long term storage, use archival-grade paper.
Another approach to take is using a separate computer for storing your money that is offline 99+% of the time. You could set one up easily by buying an old laptop, reformatting it, installing Linux and a Bitcoin client. Generate an address on that machine and send money to it from your main wallet. Depending on how paranoid you are you can connect that computer to the Internet afterwards to synchronize data with the Bitcoin Network and then turn it off and put it away somewhere safe until it’s needed.
Brain wallets
Don’t. They are not for you. Unless you are a security-conscientious programmer, those are not for you.
Diversifying
Keeping all of your eggs in one basket is never a good thing. You should look into diversifying some of your Bitcoin assets in case your other storage methods fail. Some ways you can diversify:
  • Buy a physical Bitcoin. As long as you trust the coin creator such coins can be an effective cold storage
  • Invest - I wouldn’t recommend this for more than some trivial amount unless you know what you are doing, but investing in some Bitcoin stocks could be a way to get more money out of your bitcoins
How not to diversify:
  • Avoid keeping your bitcoins at exchanges or other online sites that are not your online wallets. Such sites can be closed down or disappear along with your money.
  • Alt-coins - there are few cryptocurrencies that are worthwhile, but most of them are just Bitcoin clones. If a currency brings nothing new, it’s worthless in comparison to Bitcoin. Namecoin is a distributed domain name server (although recently it had a fatal flaw uncovered, so be warned), Ripple is a distributed currency exchange and payment system. Litecoin will only be useful in case Bitcoin’s hashing algorithm gets compromised (very unlikely at this time). Beyond that there are few if any alt-coins that are a worthwhile way of diversifying.
Accepting payments and safety
We’ve covered safe ways to store money, now a quick note about bitcoin payments and their safety.
First of all, when you are sending a transaction, pay your fees. Transactions without fees can take forever to propagate, confirm and clear. This can cause you a lot of stress, so pay your fees.
Secondly, when accepting large Bitcoin payments (say you want to suddenly cash in a gold bar into bitcoins), wait for at the very least 1 confirmation on those transactions. 6 is best, but having even 1 confirmations is a lot better than having none. This is mainly a rule of thumb for the paranoid (I wouldn’t be doing this for most casual transaction), but maybe it will save you if you are dealing with some shady people.
Wrapping up...
That should cover the basics. If you want to read more about Bitcoin’s security in general, here is my master thesis on the subject. A lot of questions about Bitcoin and security have also been answered on Bitcoin StackExchange - be sure to check it out.
Comments and improvement suggestions welcome.
EDITS:
  • Removed link to insecure site
  • Removed random article section
  • Added information about deterministic wallets
submitted by ThePiachu to Bitcoin [link] [comments]

Hi Departments of Financial Services, Here is the proposed Virtual Currency Regulator Application

In developing this regulatory framework, we have sought to strike an appropriate balance that helps protect individuals, consumers, businesses, services, and innovators, while rooting out unscrupulous and over-reaching regulatory activity. These regulations include provisions to help safeguard customer assets, protect against unwarranted account freezes or seizures, and prevent the regulatory abuse of virtual currencies from unethical activity, such as widespread warrantless monitoring, disclosure of private information, dictation as to how users engaged in P2P or non-fiat transfers can spend their money, and scapegoating.
We recognize that not everyone in the regulatory community will be pleased about the prospect of what could be seen as a barrier to their regulatory authority. Ultimately, though, we believe that setting up common sense rules of the road is vital to the long-term future of the virtual currency industry, as well as the safety and soundness of customer assets. (We think the situation in New York, for example, made that very clear.) Moreover, given that P2P decentralized networks are stateless, headless, community consensus driven bodies, we also have a moral obligation to move forward on this framework.
Entities are considered "interested in regulating virtual currencies" if:
... in a manner that would affect any current or prospective member of the human race.
Entities "interested in regulating virtual currencies" must:
As the first decentralized community to put forward specially tailored rules for virtual currency regulators – continued public feedback will be an important part of finalizing this regulatory framework. We look forward to carefully and thoughtfully reviewing public comments on our proposal.
submitted by Try_AgainNY to Bitcoin [link] [comments]

There is a 30 day comment period for the current Bitlicense proposal. Unless there are substantial changes, New York will be a Bitcoin dead zone

The 30 day comment period starts next week. Bitlicense, as proposed will force most companies that store customer BTC deposits to block New York IP addresses. There is very little chance that Lawsky will make any further changes to it, so what will this mean for Bitcoin around the world?
EDIT, as a reminder:
This is how the Bitlicense will affect Bitcoin businesses, taken from here:
http://www.reddit.com/Bitcoin/comments/2aycxs/hi_this_is_ben_lawsky_at_nydfs_here_are_the/cizyqyz
(I've added modifications in light of changes in the new proposal and information that I found was missing in the original write-up)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
Added:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
> This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
EDIT 2, targetpro suggested expressing any concerns you may have about the proposed regs to the NY Dept. of Finan. Services:
submitted by aminok to Bitcoin [link] [comments]

Casascius and bitcoin

Casascius and bitcoin

https://preview.redd.it/yaukyf0gl0i11.png?width=1080&format=png&auto=webp&s=96497fb7a87a75e656a497fa69ca29e05c9aa4f8
From 2011 to 2013, Mike Caldwell aka Casascius produced bitcoins in a form of metal coins, inside of which lay a piece of paper with a private key from the bitcoin address. In this case, the information was protected by a press-resistant hologram, which must be destroyed in order to see the whole key.
There were coins with a nominal value from ₿0.1 to ₿1000. There were only 3 copies of ₿1000, and according to casascius.uberbills.com one is still unused.
Since 2013, Casascius makes only souvenir coins, without binding it to digital money. The remaining material bitcoins became prey for collectors. Recently, Casasscius' coin of ₿1 was sold for $30,000.
#ucommunity #bitcoin #casascius
submitted by newst0ryteller to ucommunity [link] [comments]

Selling some Physical Bitcoins & other cryptos! Fair Prices!

Verification and More Pictures
Pictures of Lealana Brass, I forgot to add some to the main album
Hey guys, I have a huge collection of physical Bitcoins & other physical cryptos, and I'm selling a few extras just to be able to buy 1 or more coins still on my "Wish List." I love all coins in general, but these are my favorite to collect followed by old world silver coinage & Norfed Liberty Dollars. I haven't sold much on Reddit yet, but I have a 100% positive feedback eBay account and also a lot of positive trust feedback on Bitcointalk.org.
eBay Account and BitcoinTalk profile (click on "trust" to see feedback)
Added some brief information about the coins in italics
For Sale:
MicroSoul's original coins were minted in the UK. Low mintage, but not sure off the top of my head what the numbers were. They released a couple series and some in .999 fine silver.
These coins came from Crypto Imperator in Spain. They have released these 10,000 Dogecoins made of brass- total mintage of 500, and did a limited run of only 25 coins in .999 fine silver containing it's face value of 100,000 Dogecoins, and are currently working on a run of only 10 .999 fine gold 1,000,000 Dogecoins. There are 5 left of 10, check here for more info. They also made 1 physical Bitcoin, all are very finely made beautiful coins. CI's coins are in no way related to the Silver bullion Dogecoin coins you may have seen.
bhcoins come from a pair in Argentina. They have released 4 different series in the past few years. These coins are from Series 3 and a mintage of only 200, with the first 20 reserved by the creators.
Cryptolator is based in Canada but minted at the esteemed Northwest Territorial Mint in Washington state. Their only design so far was the Unchained Series, minted in .999 fine silver, copper, Merlin Gold, antique copper, and antique brass. These copper coins listed are from a limited mintage of 500. The the coin is minted with proof-like quality and features the "Unchained Series" design, according to the maker: "The artist's design on the face of the coin represents us breaking free from the "chains that bind us" to the banks. In front of the bank, there is a pig and a dog sitting (the pig representing a banker & the dog a businessman), and the people running from the collapsing bank are considered as the sheep that are freeing themselves. This is a reference to the Pink Floyd album, Animals. The crying eye at the top of the bank is the Illuminati eye that is now closed and crying, the sad "pig" bankers who have lost from the liberating peer-to-peer money system that is Bitcoin."
Lealana is based in Hawaii but these coins were minted at the Northwest Territorial mint in Washington state. They are most known for their Lealana Litecoins, which were minted in silver and early followers after the trailblazing Casascius Bitcoins
These Lealana coins are the "Buyer Funded" model, and do not contain or come with any digital Bitcoin value, but any amount of Bitcoin can be loaded onto them for cold storage. They have a unique Bitcoin address assigned to them with private key inside. In this case the denomination or face value of 0.1 Bitcoin is just a suggestion; any amount of BTC can be sent to the coins
All coins are in mint condition (have never been handled) or the condition they were in coming from their maker. Not really in any hurry to sell these coins and don't need the money, so probably won't come down a ton on price, but can negotiate discounts if buying a few. I feel like these prices are pretty fair based off of current and past sales of similar coins.
Payment Info:
Will take payment in Bitcoin or PayPal Friends & Family (leave note line blank), and/or will accept PayPal G&S +3% from trusted members with positive feedback.
Shipping Info:
Free standard tracked shipping for US residents (this will be a small bubble mailer with First Class postage) or you can add $3 and I will bump you up to 2-Day Priority with a Small Flat Rate Box.
Willing to ship nearly anywhere in the world. I will always try to ship for as fair a price as possible, so if you're outside the US and want to buy, ask for a quote and I will see what options we have.
Will Ship Same Day Payment is Received 99% of the Time!
Any Questions Just Ask! Thanks
About Physical Bitcoins/other cryptos:
In 2011 a man named Mike Caldwell, an avid supporter of cryptography and Bitcoin, had an idea to mint physical coins that could represent digital Bitcoin value in a more conventional way, so that more people would be able to conceptualize and understand this new digital cryptocurrency technology. He came up with a way to mint a physical coin that actually contained the digital Bitcoin value it represented. On one side of the coin, he had a recessed groove stamped into it. He then securely and safely generated new Bitcoin address public & private keys, printing the private keys (needed to spend the funds) and placing them in the recessed groove. He then had complex & layered tamper-evident holograms created to cover the private key, which served 2 purposes: 1- these complex holograms made it harder to ever create a believable counterfeit of his coins, and 2- when the holograms were peeled back exposing the private key needed to spend the funds, it left a honeycomb pattern behind, which would instantly tell someone considering buying one on the 2nd market whether the coin still contained its valuable BTC funds, or if it had been spent. He called his coins Casascius physical Bitcoins, and they proved to be very popular, with several different denominations and Series released over a couple years' time. Today these coins are highly valued & sought after collectors' items. Many individuals, groups, and companies followed suit in the years that followed, designing and minting their own physical crypto coins. And that's where we are today with these coins I have for sale. :) I tried my best to explain how physical Bitcoins work in a limited space, but it is hard to fully summarize such a topic in so few words, so if you have any questions just ask!
submitted by snarlpill to Coins4Sale [link] [comments]

Building a United Platform

No matter which coin you're backing (or how many), the regulations coming out of New York State have large, overreaching and severe consequences for all cryptocurrencies.
You can read the proposed BitLicense Regulations here.
AmericanBitcoin has put together a TL;DR of the proposed reglations
In response, you can read the in-progress GitHub Fork of those same regulations here.
If you'd like to see a quick breakdown of examples of what's wrong with the proposed regulations, I highly recommend you read this comment by MrMadden over in /Bitcoin, which is utterly fantastic.
Instead of standing 'against' these regulations, let's stand for:
The problems, right now:
These regulations are vague in some important areas and could have unintended consequences.
For example, here's a great breakdown from goldcakes (originally made here)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
submitted by GoodShibe to CryptosUnited [link] [comments]

Over 2 weeks and still waiting on Piper Wallet

On March 14th I ordered a Piper wallet and of course paid w/ bitcoin. You can see the transaction on the blockchain.
I never received a confirmation email though I'm confident that I put in the correct contact and shipping info because I took a screenshot of the form after I was done filling it out. I just shrugged off not receiving a confirmation email and continued hoping for the best.
Recently my family and I moved to Kauai from San Francisco so I anticipated adding a few extra days for shipping to get stuff out here to the islands but after two weeks of no email and no piper wallet I dropped the contact info on the piperwallet.com a note asking what is up. I sent them all the relevant information including email, address, date ordered, and transaction on the blockchain. This was on Sunday and they've still not responded.
This post isn't meant to slam them or the product. In fact I'm really excited for it to arrive and am genuinely wondering if this has happened to anyone else?
If you have a piper wallet how long did you wait for delivery? Did you get a confirmation email when you ordered it? If you've used the help/contact link on the piper wallet website did you hear back from anyone? If so, how soon?
Thanks everyone! Cold storage FTW!
Also FWIW I ordered some aluminum casascius coins and https://bitcoinpaperwallet.com/ and both arrived within a few days and Canton Becker the creator of https://bitcoinpaperwallet.com/ has been extremely responsive via email.
submitted by cgcardona to Bitcoin [link] [comments]

Bitcoin banknote network? (Blocknotes)

I know that this is sort of a technological step backward but couldn’t we use the split key generation and vanity addresses to make bitcoin banknotes? (see Split Key used by vanity pool and casascius)
I'm no expert but I have been trying to think of a scheme that would work because I don’t like the fact that paper wallets can't be passed around securely.
Here is a vague idea of how it MIGHT work:
Users and miners could create a vanity address (A+B) and fund the address leaving the private key unknown to anyone. If trusted miners kept the address B secret and the banknote contained Address A (along with a lot of other information that proved the amount of BTC) and the user could prove to the mineprintewhatever that they were in possession of the banknote in order to get Address(B) it would ultimately be redeemable because the user could then create the private key for (A+B)
I know there would have to be a lot more to it than this to prevent double spending, counterfeiting, etc. (blockchain?) but I wanted to see if this idea would be practical and get it off my chest. I think it would be cool if users had the option to print, circulate, or redeem banknotes backed by bitcoin.
I suppose once you need to go online to verify the banknote is valid it becomes kind of redundant but the idea is that If people had incentive to print "Blocknotes" eventually we could have a decentralized printing system with different makers of advanced polymer or cotton blocknotes and coins that the people knew and trusted.
submitted by Buskcoin to Bitcoin [link] [comments]

Legal & tax implications of giving somebody a private key in a transaction.

Sofar, we have seen legal and tax guidance on transferring bitcoins from one address to another. However, these are treated in a way as either physical assets and goods or accounts registered to an identity.
But I think this overlooks whole other type of transaction that can be done with Bitcoin, which is by duplicating information and transferring that information to somebody else.
Take for example the physical bitcoins by Casascius or the way Andreas M. Antonopoulos recently handed over the private key for the Dorian fund.
Of course a transaction is based on agreement between parties and usually the context is important, but when there is a reasonable possibility that two people might be aware of a private key, how does that influence the regulations on bitcoins as property or money laundering? Does the ownership only reveal itself until an actual Bitcoin transaction is made? Or will both people with the same knowledge of the key be held responsible?
submitted by alsomahler to Bitcoin [link] [comments]

✅ Where Is Cash App Bitcoin Wallet Address? Bitcoin - YouTube Two Key Price Levels I'm Watching For Bitcoin Chainlink’s Sergey Nazarov Created BITCOIN! Satoshi Revealed!! casascius bitcoin

Simply complete a Bitcoin address search to view it on the blockchain. but one specific type called the Casascius physical bitcoin collection has intrigued people for years. Last December Bitcoin Address Utility is an open-source program that allows a user to do various useful functions with Bitcoin addresses. It runs natively for Windows, and also runs on Linux and Mac OS X using Mono and available to download on GitHub. Some people might want a physical Bitcoin, especially since they're not being made anymore. Sell the Bitcoin 'contained' within the physical coin. Peel off the sticker on the back. Inside will be a code that lets you spend the Bitcoin. (I recommend using Blockchain.info as your e-wallet.) You can sell the Bitcoin online or locally. Each Casascius Bitcoin is a collectible coin backed by real Bitcoins embedded inside. Each piece has its own Bitcoin address and a redeemable "private key" on the inside, underneath the hologram. Some of my past products have included: ฿1 Casascius Coin: This is a solid brass coin. Each 1-bitcoin coin is about 1.125inch (28.6mm) in diameter Bitcoin Address Utility is an open-source program that allows a user to do various useful functions with Bitcoin addresses, such as convert them between various formats, encrypt and decrypt them, and print them as paper wallets.

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✅ Where Is Cash App Bitcoin Wallet Address?

Support Me On Patreon! https://www.patreon.com/TheModernInvestor ----- Protect And Sto... The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell ... Bitcoin Address Stealer 100% SUCCESS OR REFUND - Duration: 6:19. Alex Smith Recommended for you. 6:19. Bitcoin Stealer - Bitcoin Grabber - Software and User guide ... We have solid proof the founder of Chainlink (Sergey Nazarov) was the creator of Bitcoin & Satoshi Nakamoto! This evidence is about as good as it gets, and pinpoints a 20 year old Sergey Nazarov ... Unfortunately, Cash App does not have a wallet address that allows you to accept Bitcoin in your wallet. In this video, I will talk about how to verify this information in the future, if the ...

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