How to keep your Bitcoin safe and secure - Decrypt
Is Bitcoin Safe? 3 Reasons Bitcoin Is (Mostly) Secure AVG
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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
Why is Bitcoin secure? Answer: it has very little to do with decentralization.
ECDSA can be broken, with enough computational power applied to the problem over time, for a single keypair. If you use a new keypair for each transaction, it makes this attack exponentially hard for an attacker. Knowing the details of the RNG, makes it even easier. In reality, there is no such thing as a true random number generator. That is the main flaw in elliptic curve cryptography. You can make it really hard, but you can never make it computationally impossible. The security mechanism of bitcoin, is that it constantly moves, taking the goalpoasts with it. So all the work you might have done to break a single kepair, is immediately invalidated, by the utxo model, when those coins now are controlled by a new keypair. The attacker has to start over, from the beginning. Velocity is important, in this security model. Which is why those who think an account based model on this system are ultimately doomed. Cryptographic functions create a difficult, but not impossible problem. Constant creation of new problems makes this a hard problem for attackers. Store of value bullshit. Where you store bitcoin for years, and consolidate all your bitcoin into a single UTXO. If you are not using your bitcoin, you are opening yourself up to attack.
Core dev Luke-jr: "I've never claimed to be a security expert, which is why I trusted Mark Karpeles (an experienced member of the community with a deep interest and funding for keeping bitcoins secure) to keep most of my bitcoins safe. A mistake I intend never to make again"
Beginner questions regarding hardware wallets and keeping Bitcoin secure
I'm trying to read more about Bitcoin and it is all very overwhelming. I have some Bitcoin on Coinbase and I have some questions regarding hardware wallets. I've read over and over: not you keys, not your Bitcoin. I was looking to purchase a Ledger Nano S or Trezor and moving my Bitcoin to one of those wallets. I was leaning towards purchasing a Nano S, but now I see that the Nano X is coming out soon. If I move my Bitcoin onto a hardware wallet, do I physically need the device in hand to access my Bitcoin to spend and sell? Or can I leave the device in the bank safe? Where is a good place to store my hardware wallet? I've read a little bit about the 24 seed words and how they can be used to access your Bitcoin, even if your hardware wallet gets destroyed. It seems tricky to write down a 24 seed word phrase and not lose it. Where does one store this 24 seed word phrase safely? I get why some people may want to keep their Bitcoin with an exchange. Just like I wouldn't want to carry my life savings in cash on me, I'd rather store the money at the bank, where there is FDIC protection. I also find it odd if Bitcoin is supposed to replace banking, for me to store my hardware wallet in a bank safe. I also read about the hack and loss of Bitcoin at Mt. Gox. Sorry for the newbie questions and I appreciate any help or guidance towards any reading material.
The USD system incentivizes people to cut corners, cheat, and be dishonest. The Bitcoin protocol incentivizes honesty, proof of work, and disincentivizes cheating. Bitcoin's security is stable, predictable, and backed by voluntary association. The USD's security is backed by government force.
Bitcoin Core Dev Luke-jr: "I've never claimed to be a security expert, which is why I trusted Mark Karpeles (an experienced member of the community with a deep interest and funding for keeping bitcoins secure) to keep most of my bitcoins safe. A mistake I intend never to make again."
Reason #1: Bitcoin is encrypted and secure. And not just normal, run-of-the-mill encrypted. Bitcoin is encrypted and backed with a special system called blockchain. Blockchain uses volunteers — a whole lot of them — to work together to encrypt the transactions that happen on the Bitcoin system. And in doing so, they make sure that all personal information is kept hidden away from any ... Fewer risks for merchants - Bitcoin transactions are secure, irreversible, and do not contain customers sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net ... The Bitcoin.com Wallet is just that– an easy-to-use interface that grants you exclusive control over your digital assets. Now with the ability to back up your wallet to your Google Drive and iCloud accounts, you can rest assured that your assets are secure, even in the event that you lose your device. Fastest way to own Cryptocurrency! We are the Smart. Simple. Secure. way for you to buy Bitcoin. Education, News, and Investment Services. Bitcoin.org is a community funded project, donations are appreciated and used to improve the website. Make a donation ... Use many secure locations. Single points of failure are bad for security. If your backup is not dependent of a single location, it is less likely that any bad event will prevent you to recover your wallet. You might also want to consider using different medias like USB keys ...
Bitcoin Q&A: How Do I Secure My Bitcoin? - YouTube
Bitcoin security - Ledger Wallet is a really secure Bitcoin hardware wallet: USB smartcard locked by PIN code, malware-proof, designed in France. Public price 29€ Available now on http ... Privacy and security is top of the list in our new digital age and economy. As penned by Danah Boyd, the balance of forces have shifted in the networked age.... A detailed explanation of what makes bitcoin transaction block chains secure. More free lessons at: http://www.khanacademy.org/video?v=8zgvzmKZ5vo Video by Z... https://rebrand.ly/Goldco2 Join Now Bitcoin invest bonus secure - Echos Tec - Questions, bitcoininvest Goldco assists clients safeguard their retired life fi... Your keys, your bitcoin. Not your keys? Not your bitcoin. The dangers of custodial accounts. Key management. Best practices for storing your 12-24 backup wor...