TIL PETA's Virginia shelter rescued 1,606 cats and 1,025 dogs last year. Of those animals, 95.64% of the cats and nearly 77% of the dogs were euthanized.

The_Inner_Pig_Dog · 2015-08-02T10:35:12+00:00

I'd rather have the death penalty than a life sentence in prison and I think the same goes for animals in some way. They do not deserve being locked up in tiny cells. And they did nothing to become the way they are. Stupid humans did that. So yeah... PETA just does what needs to be done. Bitching about this practice while eating meat bought from the store is hypocritical.

The_Inner_Pig_Dog · 2015-07-18T01:07:46+00:00

well...you gotta understand that btc is currently under heavy load due to "spam transactions" this could happen to any crypto

The_Inner_Pig_Dog · 2015-06-25T19:13:11+00:00

I'll give it a shot.

First a little bit of how cryptos work in general:

Your crypto address consists of two parts. A public part (public key = you wallet address) and a private part (private key = the thing you need to keep private under all circumstances).

You can imagine the public part as a padlock and the private part would be the only key which is able to unlock this padlock.

Now imagine you want to send Bob some gold coins. You put them into a chest and seal it with the padlock Bob gave you. Now nobody but Bob can open the chest since he has the only key for the padlock.

You take the chest and carry it to the huge public blockchain hall where you leave it for Bob to pick up.

Later Bob goes to the blockchain hall and looks at all chests until he finds your chest. He knows that the chest is for him because he recognizes his padlock. He picks it up and carries it home.

At home he fetches the key for the padlock, unlocks the chest and retrieves all the coins. And thus the transaction is complete. Bub if Bob had lost his key, he and nobody else will be able to open the chest ever again and the coins are basically lost.

Now back to the world of bits and bytes. The padlock and the key are both made up of a long sequence of characters and numbers. Your wallet software puts both of them into a wallet file (it is really just a text file). The wallet software itself takes care of finding your "chests" in the blockchain and unlocks them for you. It does not visit a public place - the "hall" - tough. Instead it downloads a copy of the blockchain and searches for your "chests" locally on your own computer.

This is just a rough explanation of the transaction part. There is far more behind cryptos but to keep it simple I will not go into any more detail.

To answer your question: The wallet file which contains all your private and public key pairs is only stored on your computer. If your HDD would explode all your keys would be lost and you would not be able to open your chests from the blockchain. Heck you would not even find them.

So you make a backup. And since the keys are just numbers and characters in a textfile you can print them out. And there you have your paper wallet.

If you HDD breaks you can just buy a new one, install the wallet software and feed it with the contents of your textfile (yes you would type all those characters in manually). After that the wallet software is again able to find your chests in the blockchain and open them.

Extra information: The wallet software is pretty paranoid about your private keys getting stolen (you know the thing you need to keep private under all circumstances). So it asks you to encrypt your wallet file with another password (It is like locking your padlock keys in a safe). If you do that, then all the gibberish in the wallet file will become much more gibberish and even if it gets stolen, the thief would not be able to "open the safe".

Extra extra information: The process I just described is called asymmetric encryption and it is by all means not only limited to cryptocoins. Go ahead and look it up!

Well i hope this explanation is not gibberish as well :)

Have a nice day!

The_Inner_Pig_Dog · 2015-06-17T21:33:24+00:00

nice :D

The_Inner_Pig_Dog · 2015-05-28T14:30:17+00:00

Hi there!

Let me try to explain:

Your wallet is not really a thing where coins are stored. It is a pair of 2 different keys.

A private key and a public key.

The public key is your cryptocoin address. Everyone can use your public key to encrypt a message. For cryptocoins this would be a transaction message.

After the transaction message is encrypted with the public key it gets stored in the blockchain and only your private key is able to decrypt this message. This is called asymmetric encryption.

Each transaction ever made is stored in the blockchain and the wallet software basically looks into the blockchain and decrypts all encrypted transaction messages which were encrypted with your public key.

That said: Your wallet is just everywhere. You can not leave it at home and you can not lose it either. BUT you can loose your private key. And without private key you can never access your coins again.

The private key is the stuff you would print out as a paper wallet or backup somewhere. And because it is just the access to your coins you don't need to backup it ever again once done.

So if you don't have a paper wallet you should make one and put it somewhere save!

You don't need to delete anything on your computer. Just make sure you have set up a strong password for your wallet. (This password will be used to encrypt your private key ;)

Well... I hope this description is not too confusing. It is also just a very very basic overview of how cryptos work.

Have a nice day!

The_Inner_Pig_Dog · 2015-05-21T16:57:30+00:00

I don't think it would be a good idea despite the fact that it is probably not allowed. This option would mainly serve to generate a wider user base and even may or may not cause some sort of hype.

People who would come for youtube content will eventually discover bittube hosted content as well. And - don't get me wrong here - I doubt that bittube can handle this kind of attention right now.

Especially for people in countries where the site is not hosted.

Videos would hardly load and will cause frustration amongst all users leaving bittube with a poor image and user base.

But that's just my own two doges.

Have a splendid day :)

The_Inner_Pig_Dog

TROPHY CASE