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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7093620
12/17/20 10:03 AM
12/17/20 10:03 AM
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Joined: Mar 2014
Posts: 840
North dakota
Nd native
trapper
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trapper
Joined: Mar 2014
Posts: 840
North dakota
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For those that don't know. This is what bitcoin looks like.
The public address, which is what you can share with someone else to show your balance
1H2U6Zz23kxV3W5n8bmsVNhfZ2zFNdJa8t
The private address, which proves you own the funds at the above address
5JbftJeSME1CXaGyLxKpVggzaeFwVqebopB3Sn8bzKMogaD5bTW
So your public key is what you check to see how much bitcoin you have, and is what you use to send/receive bitcoin. The private key proves ownership and is needed to transfer bitcoin.
There is a zero balance at the above address. Sorry, no free bitcoin. In order to steal someone's bitcoin, you would have to guess a private address. So lets say you want to just start guessing private addresses to see if one contains any bitcoin to steal. You can surely try, however there are
115,792,089,237,316,195,423,570,985,008,687,907,852,837,564,279,074,904,382,605,163,141,518,161,494,336
possible private key combinations. If there are currently approximately 29 million bitcoin addresses that have any balance, your odds of guessing a private key are
.00000000000000000000000000000000000000000000000000000000000000000000025 % chance of guessing the correct key per guess.
Your chances of winning the lottery are significantly higher then your odds at finding someone's bitcoin address.
By the way, a university study estimated that there are 9,223,372,036,854,775,808 grains of sand on all of earth's beaches combined. So now imagine billions of earths full of sand and imagine picking one of those earths and picking out a grain of sand and having that grain of sand hold any value.
Stealing bitcoin doesn't happen. It is only stolen when someone else holds your private key for you and they disappear. Or they hack your computer, open your digital wallet using a weak password and steal the private key. The creator of bitcoin advised no one store their private key on an exchange, because if you don't own your private key, it's not your bitcoin.
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Re: Bitcoin clears 20k
[Re: Nd native]
#7094771
12/17/20 11:25 PM
12/17/20 11:25 PM
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Joined: May 2010
Posts: 11,029
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 11,029
MN
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For those that don't know. This is what bitcoin looks like.
The public address, which is what you can share with someone else to show your balance
1H2U6Zz23kxV3W5n8bmsVNhfZ2zFNdJa8t
The private address, which proves you own the funds at the above address
5JbftJeSME1CXaGyLxKpVggzaeFwVqebopB3Sn8bzKMogaD5bTW
So your public key is what you check to see how much bitcoin you have, and is what you use to send/receive bitcoin. The private key proves ownership and is needed to transfer bitcoin.
There is a zero balance at the above address. Sorry, no free bitcoin. In order to steal someone's bitcoin, you would have to guess a private address. So lets say you want to just start guessing private addresses to see if one contains any bitcoin to steal. You can surely try, however there are
115,792,089,237,316,195,423,570,985,008,687,907,852,837,564,279,074,904,382,605,163,141,518,161,494,336
possible private key combinations. If there are currently approximately 29 million bitcoin addresses that have any balance, your odds of guessing a private key are
.00000000000000000000000000000000000000000000000000000000000000000000025 % chance of guessing the correct key per guess.
Your chances of winning the lottery are significantly higher then your odds at finding someone's bitcoin address.
By the way, a university study estimated that there are 9,223,372,036,854,775,808 grains of sand on all of earth's beaches combined. So now imagine billions of earths full of sand and imagine picking one of those earths and picking out a grain of sand and having that grain of sand hold any value.
Stealing bitcoin doesn't happen. It is only stolen when someone else holds your private key for you and they disappear. Or they hack your computer, open your digital wallet using a weak password and steal the private key. The creator of bitcoin advised no one store their private key onM an exchange, because if you don't own your private key, it's not your bitcoin. My guess is that most stolen bitcoin was being "stored" on an exchange like Coinbase. My second guess is that most people who store their coins on exchanges actually think they own bitcoin. They don't.
"Gold is money, everything else is just credit" JP Morgan
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7106486
12/26/20 12:00 PM
12/26/20 12:00 PM
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Joined: May 2010
Posts: 2,686
Alaska
drasselt
trapper
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trapper
Joined: May 2010
Posts: 2,686
Alaska
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....or will it drop like a rock like it did a few years ago after a Christmas run up? Time will tell!
you can vote your way into socialism, but you will have to shoot your way out.
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7106501
12/26/20 12:15 PM
12/26/20 12:15 PM
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Joined: Dec 2015
Posts: 6,765
se South Dakota
NonPCfed
trapper
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trapper
Joined: Dec 2015
Posts: 6,765
se South Dakota
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I'll stick to some silver. Way easier to understand and its physical in my hand. Sorry.
"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
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Re: Bitcoin clears 20k
[Re: drasselt]
#7106812
12/26/20 06:21 PM
12/26/20 06:21 PM
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Joined: Dec 2006
Posts: 18,808
Rodney,Ohio
SNIPERBBB
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 18,808
Rodney,Ohio
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....or will it drop like a rock like it did a few years ago after a Christmas run up? Time will tell! It might. Darn need hit 27k today.
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Re: Bitcoin clears 20k
[Re: NonPCfed]
#7106935
12/26/20 08:01 PM
12/26/20 08:01 PM
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Joined: May 2010
Posts: 11,029
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 11,029
MN
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I'll stick to some silver. Way easier to understand and its physical in my hand. Sorry. Nobody is trying to encourage anyone to buy some. It's mostly an interesting conversation.
"Gold is money, everything else is just credit" JP Morgan
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7106939
12/26/20 08:05 PM
12/26/20 08:05 PM
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Joined: Feb 2012
Posts: 1,927
Northeast Wisconsin
NE Wildlife
trapper
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trapper
Joined: Feb 2012
Posts: 1,927
Northeast Wisconsin
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There are plenty of companies that have A LOT of there money
Tied up in bitcoin and when bitcoin goes up so does the value of that company.
So you may indirectly own some bitcoin and not even know it.
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7116940
01/02/21 12:22 PM
01/02/21 12:22 PM
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Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy
trapper
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trapper
Joined: Jul 2016
Posts: 296
NE Wisconsin
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Stands at 31,599
Might be getting a canoe soon If you decide you need USD more that the BTC hit me up. Anytime I can aquire without using a traditional exchange is a good day.
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7117601
01/02/21 08:35 PM
01/02/21 08:35 PM
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Joined: May 2010
Posts: 11,029
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 11,029
MN
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I should sell my but I won't. I'm a zealot and gonna ride the wave. Hopefully it still has value when I kick the bucket, kids can have it.
"Gold is money, everything else is just credit" JP Morgan
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7117644
01/02/21 09:05 PM
01/02/21 09:05 PM
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Joined: Feb 2020
Posts: 323
Sandpoint Idaho/ Whitesboro TX
cbat
trapper
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trapper
Joined: Feb 2020
Posts: 323
Sandpoint Idaho/ Whitesboro TX
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I invested $2000.00 a few years ago just to see where this thing might go. It dropped shortly after and got down around $400.00 value. As of right now it is over $2900.00 Guess we will see where it goes.
The real Wally
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7117657
01/02/21 09:10 PM
01/02/21 09:10 PM
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Joined: May 2010
Posts: 11,029
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 11,029
MN
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I lost both items in a boating accident.
"Gold is money, everything else is just credit" JP Morgan
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7117666
01/02/21 09:19 PM
01/02/21 09:19 PM
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Joined: May 2010
Posts: 11,029
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 11,029
MN
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Ken, it sunk faster than the Titanic.
What with all the ammo and precious metals that were also on that boat.
I'm doing my best to resupply.
"Gold is money, everything else is just credit" JP Morgan
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