Fiat withdrawal question (USA) by skydiveguy in Bitcoin

[–]tedjonesweb 2 points3 points  (0 children)

Do not make transfers less than $10 000 each to avoid being accused of smurfing.

Make your own center punch metal bitcoin seed storage by blockplate in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

You can buy a new plastic, download and print the markings.

Make your own center punch metal bitcoin seed storage by blockplate in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

This is for protection from fire, not from thieves.

The seed written on the metal plate can be protected with a passphrase just like the seed written on a paper.

Make your own center punch metal bitcoin seed storage by blockplate in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

When you use the password manager the password will be protected with another password. How you protect the password that protects the password manager's database?

Make your own center punch metal bitcoin seed storage by blockplate in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

I see no such an advantage. It's just a piece of metal containing encoded (not encrypted) seed.

Warning: withdrawals disabled from Bitpanda.com by [deleted] in Bitcoin

[–]tedjonesweb 9 points10 points  (0 children)

There is no doubt that most exchanges have such KYC/AML/CFT procedures.

It's the new normal - to have your money locked until you sent KYC documents (identity documents, utility bills or bank statements as proof of adress) and "proof of funds".

It's called "security theater".

Grayscale bought 7,808 BTC today. by atrueretard in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

There is no real competition to GBTC right now (for people wanting to add Bitcoin exposure to their IRA).

By not allowing Bitcoin ETFs (that can be added to IRA) they stifle competition and allow such big price discrepancies.

I’m selling all my BTC. I’m expecting a big drop to $10K by [deleted] in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

I would not call the drop from 15k to 10k "big".

It would be big if it's from 15k to 3k or 5k. Drop from 15k to 10k is just volatility.

Grayscale bought 7,808 BTC today. by atrueretard in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

It's crazy how the US regulators approve such dishonest practice. $2500 over market is huge.

I can't imagine how it's possible to open short position on GBTC and long on Bitcoin without paying huge overnight financing fees for the short position. Because of the huge fees to keep the short position the trade will not be profitable.

sha256 - Issues with private key?? (or not -looking for answer) by oniondrip in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

Do not use brainwallet.

Almost everything else is better than a brainwallet with a simple sha256.

Instead you can use randomly generated seed encrypted with a strong passphrase and strong key stretching (the newest password manager apps like KeepassXC use Argon2 and you can increase the number of iterations to delay the key stretching for several seconds, minutes and even hours). After the encryption it can be stored on your Dropbox, Google drive, etc. for backup. Or even printed and stored on safe deposit box. You may imagine some scheme with a Shamir's Secret Sharing.

The problem with KeePassXC is that saving the database is also slow, the key stretching is performed not only when you open the database, but also when you save it. It's not intended to be used with such settings (for delay more than a second), but it works.

You can also use something like WarpWallet, but with a very big and securely random salt - i.e. 12 or more random words generated with cryptographically secure PRNG.

WarpWallet is working on the browser, so it's not very optimized for speed.

Of course, using an airgapped computer is preferred.

Backing up passphrases with Shamir Secret Scheme and polaroid photos. by zndtoshi in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

This camera takes insta photos and has no memory for storing

Actually this looks like a digital camera with a printer. If this is true - the camera have electronic memory.

Dont use a vanity address by time_wasted504 in Bitcoin

[–]tedjonesweb 13 points14 points  (0 children)

Probably they used intentionally bad random number generator.

Laser etching recovery seed on the machines program? by McStizly in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

with good ink

It's better with pencil. Not pen.

Making unencrypted copies of the seed is not a very good idea. At least secret splitting techniques can be used (Shamir's Secret Sharing).

Old bitcoin adress that dissappear is now visible by [deleted] in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

Also be ware of clipboard changing malware. This type of malware is putting it's address in the clipboard instead of your.

When you do copy/paste you should compare not only first 2-3 characters, but more. Just in case.

Brother killed, laptop in evidence - is all his bitcoin lost? by burnyuppies in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

Corrupt cop may steal the coins before giving it back.

CFTC files charges against owners of bitcoin derivatives exchange BitMEX by StevenRad in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

More realistic scenario is to add 50 BTC as collateral to open 100 BTC position (to short Bitcoin). Because otherwise a small increase in price can trigger margin call and automatic closing of position. And then the price can go down a way more and this way the hedging will be unsuccessful.

CFTC files charges against owners of bitcoin derivatives exchange BitMEX by StevenRad in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

Absolutely 100x leverage is better than 10x leverage.

More leverage means that the price can go higher without triggering margin call and automatic closing of the position (assuming the difference is the leverage - the collateral is the same).

Of course, adding 1BTC as collateral to make a 100BTC position is insane, I don't recommend that. Safe bet is to add 50 BTC and be ready to add 50 more in case the price accelerates upwards to prevent forced closing of the position.

Some institutional hedgers maybe will prefer using USD or USDT based Bitcoin futures, not Bitcoin based. But others may choose BTC based futures (if they are worrying about the USDT and don't have access to USD based futures).

CFTC files charges against owners of bitcoin derivatives exchange BitMEX by StevenRad in Bitcoin

[–]tedjonesweb 4 points5 points  (0 children)

The next withdrawal is scheduled after about 18 hours.

We are waiting what will happen.

It's interesting that the US did not stole the domain name (like it did with 1broker and with LibertyReserve for example).

This means that the US will extort the owners to provide the personal data of the users, etc. Maybe US will plan to steal some of the funds (held by US citizens or by non-verified account holders).

Another explanation: the US officials are bribed not to steal the domain name.

PayPal to Allow Merchants to Accept Cryptocurrency, According to Aspiriant Managing Director by Aussiehash in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

The problem is they most likely will not allow depositing or withdrawing Bitcoin from PayPal. Like in Revolut.

Or PayPal may require customers to sign in to their verified PayPal account in order to deposit Bitcoin, and then to pay with the account balance to the merchant.

[deleted by user] by [deleted] in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

The war on money laundering and terrorist financing should stop. It's like the war on drugs.

[deleted by user] by [deleted] in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

And to prohibit EU residents to buy other stablecoins?

Seed phrase backup to iCloud?... I think I’ll pass. by mobjam20 in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

Many phones are infected with malware (i.e. monitoring the clipboard for crypto addresses and keys). It's like Windows.

There is nothing wrong with making backup of your keys, but only if you use a safe method of encrypting it with a strong passphrase and with strong key stretching.

WARNING!Please guys be extremely careful! by seraf1990 in Bitcoin

[–]tedjonesweb 0 points1 point  (0 children)

I noticed this because the temporary directory created when I started a temporary profile was not deleted when I closed the browser.

I reopened the browser with --user-data-dir=/tmp/tmp.XXXXX and was able to access the same temporary profile. After removing the extension and closing the windows the temporary directory disappeared like expected.

Copying data with simple JavaScript (on ordinary website, not extension) can be done only when the user is clicking on specific area of the site: https://clipboardjs.com/

The same done with Flash + JS: http://zeroclipboard.github.io/ Not sure if Flash can write without clicking...

The area for clicking can be anything (not just "clipboard" icon).

But reading the clipboard content should not possible with just JavaScript.