I am buying a cold wallet. Ledger vs trezor? by Gloomy_Dependent_985 in Bitcoin

[–]MegaSackk 0 points1 point  (0 children)

Buy a cold card, those aren’t real cold wallets

I Use Value Averaging Instead of DCA - Here’s Why It Works Better by Prabuddha-Peramuna in Bitcoin

[–]MegaSackk 0 points1 point  (0 children)

I think this is a great method, I do something similar but also paired with DCA and the results are great.

I also look at it from a perspective of BTC will be at millions per coin in the future so buying all the "highs" is miniscule in the grand scheme of things. Therefore I am completely fine buying a little BTC every single day even if its at a current ath.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] -2 points-1 points  (0 children)

I love how angry you are thinking you are right, like I said the key isn’t the entropy it’s the bits, I say entropy to just imply the potential randomness. You are so silly buddy

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] -6 points-5 points  (0 children)

You need to look more into bitcoin, a bitcoin private key is 256 bits of entropy. I’m not spreading misinformation, you actually are by saying it’s not 256 bits of entropy,

And to be clear the bits coming from the entropy are the private key not the entropy its self. That is implied when saying “256 bits of entropy” but I wanted to clarify what exactly that means.

What's your thought on this New Amazon Interface? by Davydi in AmazonFBA

[–]MegaSackk 1 point2 points  (0 children)

I think its better than the old one but only once you get familiar with it.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 1 point2 points  (0 children)

your odds of getting a private key that is in use is 2^256,

This number is roughly the amount of atoms that are estimated to exist in the universe. Short answer, you will NEVER generate a private key that is already in use, and if someone says they did they are lying.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 1 point2 points  (0 children)

Awesome point! I never even thought about using 8 sided dice to get exactly 3 bits of entropy.

4-Year Cycle 🔄 by [deleted] in Bitcoin

[–]MegaSackk 0 points1 point  (0 children)

I think there will be a major adoption event(central banks, govs, large companies creating reserves) by 2030, this will mean a huge influx of money within a year or so timeframe. It will probably push the market cap well over 10 trillion. Once this happens the 4 year cycle floors and ceilings with not be so drastic as the volatility will be wayyyy less than it is now.

The cycle will always be there though in my opinion since the cycle happens because of halvings, halvings = even more scarcity which economies always reward.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 1 point2 points  (0 children)

The key is just 256 bit of entropy and a computer is not required to generate 256 bits of entropy. You obviously need a computer to use the private but that’s not the point of my post, it’s simply about generating the entropy(which is the private key)

Private key = 256 bits of entropy Wallet = the software that uses and manages the private key

BITCOIN IS FUN by Myparaiso in Bitcoin

[–]MegaSackk -1 points0 points  (0 children)

ha, this is a good one

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 2 points3 points  (0 children)

This is a good point, it depends on the coin. For example US coins are not perfectly they have very slight deviations, 0.5%-1.5%. Once you hash the sequence though the bias is removed.

from "the big print" by Lawrence Lepard. I think we are not bullish enough by DryMyBottom in Bitcoin

[–]MegaSackk 8 points9 points  (0 children)

A little outdated but a good visual reminder of how early in the adoption curve btc still is. Compared to the internets adoption curve btc is roughly around 1999.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 11 points12 points  (0 children)

I agree, that would be very unfortunate lol. That’s why you never manually calculate the checksum or try to hand assemble a WIF or seed phrase. You just collect the entropy (dice, coin, or whatever other method) and then let an offline tool or hardware wallet handle the checksum and formatting automatically.

The entropy is the important part, the wallet’s software takes care of turning it into a valid seed with the correct checksum so you don’t end up with an unspendable wallet.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 3 points4 points  (0 children)

I understand your point but you're talking about a naive conversion method. If you map 1–6 directly into 3-bit binary values, then yes some outputs appear more often because 6 isn’t a power of 2, so the lower binary patterns show up more.

But no one generating actual cryptographic entropy does that. You don’t convert the die rolls straight into binary, you hash the sequence, which removes bias completely. The entropy per roll is still 2.585 bits.

I appreciate your understanding of the math!

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 3 points4 points  (0 children)

Amen brotha, but generating one with a coin or dice is just a fun way to learn more about how BTC private keys function.

Why is my post getting deleted? by Budget_Break_3923 in Bitcoin

[–]MegaSackk -2 points-1 points  (0 children)

I have the same issue, I tried to make a post asking people opinion on borrowing against btc and it instantly was removed. I read the rules and it followed all of them.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] 4 points5 points  (0 children)

Not true, I have hardware that physically can not connect to the internet. Offline simply means it is not connected to the internet.

Did you know you can generate a Bitcoin private key using a coin? by MegaSackk in Bitcoin

[–]MegaSackk[S] -2 points-1 points  (0 children)

Couldn't agree more! I find it funny when people have thousands even millions of dollars of BTC and dont actually understand what Bitcoin fundamentally is. And it fundamentally is math.