Crypto 360°

Friday, 2 October 2020

BitMEX Traders Withdrew $243 Million of Bitcoin in One Hour

submitted by /u/SaneFive
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ECB must prepare to issue a digital euro and fend off competition from Bitcoin and other crypto tokens.

submitted by /u/affenstunde
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Wallet from ~201-2013 recovery questions re. Pywallet, Hex, and where to go next.

I have 2 hard drives I am currently searching for a bitcoin wallet from when a friend introduced me to btc and we mined for fun a long time ago. Estimated timeframe would have been 2010-2013 but most likely toward the earlier side. I do not recall any encryption.

Using regular recovery software I managed to find a handful of wallets however they turned out to be dogecoin wallets that I was able to recover some loose change out of, but not after having opened it in bitcoin core and giving myself a good boost of false hope -_- . The wallet.dat files I have recovered so far were created in 2013 and 2015, which I think must be all dogecoin as I had btc before I had any doge.

I have been hesitant to post requesting help as I am sure it gets posted often enough, however, I feel out of options. Here is what I have done so far:

Created forensic images of both drives so don't worry about that

Downloaded the whole bitcoin core and doge blockchains and tested the wallets I had recovered.

Recovered some doge

Tried to salvage the recovered wallets that didn't open in both btc and doge wallets

Searching the wallets I have found for hex data for BTC hex data. So far seem to have only found doge

I was going to try pywallet anyway but all the forums I have been reading have dead links and am unsure if there is an official github anymore.

Thanks for any replies :)

submitted by /u/DaNReDaN
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Why does Bitcoin have value-explained

It is a simple yet not easy question to answer: why does bitcoin have value?

Bitcoin has value because it has both scarcity and utility. It is a limited and useful resource. It is important to note that something must be BOTH in order to command a market value, NOT either.

Bitcoin is limited to the software-imposed hard limit of 21,000,000 bitcoin units ever in circulation. It is useful because it allows payment information to be secured by a decentralized computing network backed by magnitudes of raw hashing power. That raw hashing power is energy (electricity) converted into digital utility. Each transaction must compete (fee market) to be included in the next block of transactions which has a limited [block space] due to the block size limit (2MB) imposed on each ~10 minute block.

We can expect both the value to increase and the number of users to increase exponentially so long as the current technology maintains itself and remains both useful and in a limited abundance.

Bitcoin will always retain market value so long as miner nodes are actively contributing their hashing power to secure the network (proof of work).

In my opinion, Bitcoin will always have value until and unless people use it as a source of payment and use in merchants such as in EarnBet-an online decentralised casino operating on the WAX chain that accepts Bitcoin and distributes casino profits in such forms.

submitted by /u/DaoDavy363
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source https://www.reddit.com/r/btc/comments/j3qqgi/why_does_bitcoin_have_valueexplained/