What's the deal with bitcoins.

I also use local bitcoins, I haven't used coinbase myself, as it's not available in Europe, but a similar site would be useful to me. No doubt one will appear in due course.

What I would say is that is if I did use it, I would immediately transfer any BTC from my online wallet with that site to my own personal wallet on my flash drives. I am not comfortable with the idea of having funds in an online wallet anywhere, for any longer than I need to for a particular transaction. That's where I think they're probably at their most vulnerable.

 

Is there a proven method of establishing a secure, personal wallet to store your coins?

That sounds normal, I believe transfers take 3-4 days until verification. This is why I localbitcoins. By the time I make the cash deposit to their bank, I take a picture of the deposit receipt with the reference number written on it and send it to the seller.

Usually before I even get home the coins are already released from escrow to my wallet, which I then transfer to the wallet on my hard drive. You do have to shop for the best exchange rate but it seems that these people respond so quick, like within minutes

Oh and FYI...doing it this way keeps ur bitcoins off the books

The deposit amounts have posted to my account. All that's left is establishing my personal wallet and making my first investment.

Once more, thank you all for being so generous with your knowledge. Extremely helpful!

 

These are AceK's words, my method of copy n paste failed to acknowledge that.

 

Well, yes i guess so it is what I hear LOL

Shits getting real man...shit ain't like CSI on tv where they hack encryption in a few keystrokes...the real math shows that all of the computers in the world still isn't enough computational power to brute force SHA-256 private keys:2thumbsup:

 

I tend to use a wallet from bitaddress.org.

When you generate the wallet address, save the entire web page. You can then print it off to make a 'paper wallet' and /or save it to some kind of external drive such as a flash memory. This secures your private key in an offline storage mode, so no one can get it by hacking your computer. It's ok to let your public key sit on your computer's own drive, as nobody can get your funds from it without the private key.
Remember to delete the saved page from your computer's own drive.

There are other methods too, such as brain wallets. I have never gone this far, as I don't have a massive amount of BTC to worry about. This video explains how to set up a brain wallet in simple steps.

https://www.youtube.com/watch?v=fBOWAqmS7qY"]Bitcoin 101 - Fun with Brain Wallets (Making and Playing With Them) - Bitcoin Security - YouTube

 

That's very true. All that's necessary is to prevent anyone getting your private key.
SHA 256 seems absolutely rock solid.

 

Encrypt that shit with a high entropy password (random characters) 12-15 characters is good cuz the hash is gonna be 256bits no matter what so if the password to generate the ain't in any dictionaries and and can't be thrown together with rainbow tables then it's to try every possible hash

From Wikipedia

Sell me those handcuffs bitch...I got a nickel

 

If anyone called me bitch in real life, their head might see the toilet bowl. LOL

 

that's Eminem...I really don't know what i'm talking about cuz i'm a dumbass druggie w/o a brain in his head I doubt the 1 brain cell I got left could brute force even a 16-bit key so I think everybody's good

 

Haha...I never said you are a dumbass .....blah, blah, blah.......

I may be dain bramaged, though.

 

and I have my boxing gloves on....you have no idea what I can do....

 

Anybody know the current value (USD) per bitcoin? Seems like they've been all over the place since last fall.

 

On blockchain.info it's being quoted at 444.00 USD at the time of posting this.

 

Gotta start my Dogecoin mining up again...I have to stop it or at least turn down the intensity if I wanna watch YouTube or anything with video.

CPU mining on an 8-core processor actually adds about 60khash (4.95ghz...1066mhz ddr3 running at 1372mhz or so). The GPU gets in the 420s w/ the settings I'm using..worksize 512. Having trouble getting all the way to 5ghz...but the whole rig never breaks a sweat temps stay around the upper 60s last time I checked but it keeps my room warm.

The 1066 ddr3 sticks is what I had available which is why I'm using them.

My i3 laptop adds about 15 khash and I haven't even tried GPU mining on it...maybe I'll try it for a couple minutes but I'd be worried about the temperatures.

Now I just need to run an extension cord down the side of the building and plug that shit in somewhere else than here....where the power use won't show up on my meter When it starts getting hot outside that extra heat is gonna be a bitch!

 

Secret pump right now, tomorrow

Coin base Friday !!!!!!

 

lol......that,s a good one ace_k. and i,m right with ya, junkie high school dropout.

but can,t count us out because of that. I bet.. nothing will stop you when ya really wanna learn something.

oh well they,ll never suspect us then. too dumb lol wait where,s my bull??

 

btc still down ... made a panic buy cuz i thought "it just has to moon" soon. so now im just waiting wondering if i should sell, or just wait for moon. probably just wait, not make the same mistake again.

never panic.

 

price down to 337.42,

I guess that,s to be expected,(drop) with apple pay released. i,m sure lots of people love apple, but not me. Tell me i can,t do something i want, screw U apple. like when they tried to ban bitcoin.

* This thread started with,..."what,s the deal with bitcoins" let,s see?....humm....

Well the secret is..........
There almost magical, you can buy anything you want. (legal or not) think about it. ANYTHING

ya used to be able to mine em, wit ur PC. PROFIT!
anybody got any more to add?

 

You can also send money anywhere virtually for free.

That's worth adding. It's worth a lot to people in the 3rd world for instance.

Apple can suck my dick.

 

should have fuckin sold, GODDAMMIT! litecoin is up too, shoulda bought LTC but sold those too early. now I gotta wait till 450/BTC or something.

I'll probably sell at 450 then it will moon for real and hit 1200 again and I'll be slamming my head against the wall...