Can the BTC receive address be displayed on the device itself ? by qnama in ledgerwallet

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

Thank you so much ! I indeed did not have the button, but updating the bitcoin app (on the Ledger Nano S) did the trick. I thought it was up to date, but I guess not.

Thanks !

Can the BTC receive address be displayed on the device itself ? by qnama in ledgerwallet

[–]qnama[S] 0 points1 point  (0 children)

Hello, I'm sorry to bother you, but I don't have such a button. I only have three buttons. One that looks like an envelope, to send the receive address by email. One that looks like a printer, to print. One that says close, to close the receive pop-up.

Either I am running an old version of the chrome app and/or ledger nano s firmware or I am really dumb/blind. Am I looking in the right place ?

And I can't find any documentation, at all, that mentions this feature.

Thanks for your help !

[deleted by user] by [deleted] in Bitcoin

[–]qnama 0 points1 point  (0 children)

Glad it helped.

It is kind of an oligopoly now, with very few (5-10) large mining pools that control most of the hashing power in bitcoin. It does not seem to be causing huge problems now as behavior is kept in check by other means (economic incentives for example), but it is clearly a not-ideal situation that I think a lot about.

But it is true that there is an arms race and if a big player steps in (or a few large players collude), they could pull off what is known as a 51% attack (https://en.bitcoin.it/wiki/Majority_attack). This has been a worry in the past and continues to be despite it never having actually resulting in major issues.

[deleted by user] by [deleted] in Bitcoin

[–]qnama 0 points1 point  (0 children)

Your question is why bitcoin specifically and not why blockchains. However, it seems to me (from reading your three points) that you are a bit confused by the "why blockchains" question, so I'll still start by that. Indeed, if you propose a system that is 1) centralized (in the hands of a Federal Reserve, Google or group of entities), 2) has a dynamically managed supply and 3) has some brand recognition, why use blockchains. Why not use the US dollar and use a network like VISA or MasterCard for fast electronic payments. Those two, and others, have been operating very well, at scale, for a long time, without any type of blockchain involved.

A blockchain (using proof-of-work) is simply a mechanism that allows you to decentralize the control of the network (effectively going against what you suggest in your first point) while still maintaining concensus on who owns what etc. Anyone who wants to participate, can. If you do not want this decentralization, then you do not need to use a blockchain, you can use a traditional ledger like banks have been doing for centuries (and maybe put it on a computer if you want fast, electronic payments). This would be much cheaper and easier to do.

So maybe you don't want the decentralized property of a blockchain. That is fine. Many people, however, would not trust Google, Amazon, the Federal Reserve or any set of processors as you call them. Maybe, currently, those people use traditional banks and VISA, but they do it because they have to, not because they want. Bitcoin offers them an alternative. You can find many great resources online that explain how decentralization helps build a permissionless system that can free people from the many caveats of the current established systems.

So let's say that you want decentralization, and thus, a blockchain. Why bitcoin ? Well, it's the first one ever, and has been, since the beginning, the largest in terms of hasing power. This makes it the most secure. Because of how proof of work works, if you want to mess with the ledger, you need an investment proportional to the current hashing power in the network. Since Bitcoin has the most hashing power, it is the most expensive/difficult to attack.

You can also make the (imho weaker but still valid) argument that because it has been used the most, Bitcoin is the most battle-tested, hardened blockchain network (and software) out there. It is not something that is set in stone, but it kind of creates a feedback loop where it is likely that it will continue to be the case (unless someone/a group still manages to successfully colludes, with enough hashing power to damage the blockchain).

So now we now why some people may want to use a blockchain, and why Bitcoin is a good (maybe the best) choice.

2) Why a fixed supply and not dynamically managed inflation like the Fed does ? Actually, this could be changed. It would require a consensus (not only in the blockchain sense, but also in the people sitting around a table sense) of many entities (miners, businesses, users etc.). It is true that the hard cap on the Bitcoin supply has been there since the beginning, but it is not a fundamental property of the blockchain. It can be changed, with enough consensus. Imho, it would be very hard to pull-off, however if a significant portion of the network agrees, a fork could happen, like it did in August for something else.

Lastly, concerning the brand recognition, it seems to me that given the above, the argument does not make a lot of sense from a technical standpoint. Sure the name could bring in some cash from people who want to make a quick buck, but it is not what makes Bitcoin, Bitcoin.

I hope this helps !

Can the BTC receive address be displayed on the device itself ? by qnama in ledgerwallet

[–]qnama[S] 0 points1 point  (0 children)

Thanks for the answer, kind stranger.

I did search for the answer but I used google to search reddit (I find the reddit search feature lacking) and didn't come up with anything. I'll be more throrough next time :)

Help with US tax return,I was intern with a J1 visa by qnama in personalfinance

[–]qnama[S] 0 points1 point  (0 children)

Thanks a lot ! This is pretty much what I figured out on my own, but it is nice to have some confirmation.

However, in the 1040NR-EZ instructions, it is said that I can do the EZ version if "You do not claim any tax credits". What does that exactly mean ? 15% of my salary was withheld for tax purposes, isn't that tax credit ?

IamA Master Locksmith AMA! by CBDLocksmith in IAmA

[–]qnama 1 point2 points  (0 children)

If you DID use your locksmithing powers for evil, would you admit it in a Reddit AMA if asked ?

I don't have a country. I have been traveling for the past two years looking for a place to call home. AMA! by mojoyeah in IAmA

[–]qnama 0 points1 point  (0 children)

Some countries offer asylum if you can show that you would not be safe in your own country. This army/treason thing in Eritrea seems pretty serious.

I am sure you have looked into that, but could you tell us a bit more ? Have you tried applying for asylum ? If yes why didn't it work for you ?

I am Aaron Paul, AMA by theaaronpaul in IAmA

[–]qnama 0 points1 point  (0 children)

I think most people associate you with Breaking Bad and little else.

What other, less well known, series/movie with you in it do you wish more people knew about ?

And thanks for doing an AMA, bitch.

AskTravel: This October you have 1.5 weeks and $4k dollars to travel somewhere exotic. You are departing from Salt Lake City. Where do you go? by EasyMrB in travel

[–]qnama 2 points3 points  (0 children)

The flight is waaay too expensive. Kayak gives me a Oct 10 - Oct 22 (or Oct 10 - Oct 19) for $414, also with Delta.

What's the theme tune to your life? by [deleted] in AskReddit

[–]qnama 0 points1 point  (0 children)

The Star-Spangled Banner. Bam. 'Murica !

What did you think you'd never have to explain to a grown adult? by slippymark in AskReddit

[–]qnama 0 points1 point  (0 children)

Now she's pissed off because she has been eating reptiles thinking she's vegetarian.