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    Bitcoin Mentor Monday, November 01, 2021: Ask all your bitcoin questions!

    November 01, 2021

    Bitcoin Mentor Monday, November 01, 2021: Ask all your bitcoin questions!

    Mentor Monday, November 01, 2021: Ask all your bitcoin questions!

    Posted: 31 Oct 2021 11:03 PM PDT

    Ask (and answer!) away! Here are the general rules:

    • If you'd like to learn something, ask.
    • If you'd like to share knowledge, answer.
    • Any question about Bitcoin is fair game.

    And don't forget to check out /r/BitcoinBeginners

    You can sort by new to see the latest questions that may not be answered yet.

    submitted by /u/rBitcoinMod
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    Daily Discussion, November 01, 2021

    Posted: 31 Oct 2021 10:03 PM PDT

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    “We need to allow banks to hold bitcoin,” says US regulator FDIC

    Posted: 31 Oct 2021 03:15 PM PDT

    Bitcoin found in old harddrive for Bitcoin Core

    Posted: 01 Nov 2021 01:21 AM PDT

    Hey guys i have recently found my old harddrive down in my basement and when I opened it I managed to find a folder with alot of videos photos and personal files and I managed to find something very valuable. My fathers wallet was in my personal files because back then we only had 1 computer which was shared among our family. My father sadly passed away in 2017 and the wallet has fallen into my hands and it has alot of bitcoin in it (I won't disclose how much bitcoin, but it's REALLY valuable). I have let the wallet sync for about 2 1/2 weeks now and sadly its stuck at 88% and doesn't seem like it wants to move, any Idea on what I should do?

    The wallet is MultiBit HD
    I have the information such as the seed and passcode.

    I hope I can get some help from here.

    submitted by /u/vret1414
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    Happy Halloween Fellow Plebs! (Dis)Obey Your Local Fiat Overlords!

    Posted: 31 Oct 2021 01:37 PM PDT

    Bitcoin's white paper was published 13 years ago today. Happy Anniversary Y'all��

    Posted: 31 Oct 2021 06:43 PM PDT

    Inspired by this year's massive run. Bitcoin Bull Babe. #happyhalloween

    Posted: 31 Oct 2021 06:27 AM PDT

    Coffee Shop Only Accepts BITCOIN ⚡️

    Posted: 31 Oct 2021 03:10 PM PDT

    Bitcoin Is Mathematical Purity, Says Apple Co-Founder Steve Wozniak

    Posted: 31 Oct 2021 04:52 PM PDT

    Friendly reminder for noobies to NEVER give out your key phrases, DMs wanting to “help” are almost always scams

    Posted: 31 Oct 2021 01:05 PM PDT

    Where are all the early adopters?

    Posted: 31 Oct 2021 03:33 PM PDT

    I've been quite actively lurking on this sub and other crypto subs, seeing when people say they got into crypto and it appears almost 80% are people from the 2017 run. I'm still yet to see anyone who got into it before 2015.

    If anyone who sees this that is an honest early adopter and I mean 2009 to 2013 how did you find or even learn about Bitcoin? I couldn't even imagine stumbling across it back then when social media was very limited and Bitcoin was called a scam countless times.

    I saw some posts about how early adopters are part of some group they formed. Not sure where that leads to but I'm just curious as to what it was like over a decade ago

    submitted by /u/Still_Hat6758
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    Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges

    Posted: 01 Nov 2021 02:34 AM PDT

    A Coinbase user lost $11.6 million in under 10 minutes after falling for a fake-notification scam, the US Attorneys Office said

    Posted: 31 Oct 2021 08:03 AM PDT

    Has anyone used Nano Ledger before? In your opinion which one would you prefer? 1. Nano S or 2. Nano X. Or if there's more secure hardware wallet, please let me know

    Posted: 01 Nov 2021 03:28 AM PDT

    How to hack an exchange account

    Posted: 31 Oct 2021 07:04 PM PDT

    Since I see the question of "are exchanges unsafe", here's guide to how to hack an exchange account for you to decide for yourself. This assumes the user has Google Authenticator 2FA.

    TLDR; Exploiting "lost 2FA" workflows are easier than "hacking 2FA"

    1. Get Email and Phone number - These can be found on the leaked BitcoinTalk database, the Ledger database, YahooMail database, and the coinmarketcap database
    2. Determine the phone carrier - In many cases, tools can be used to determine what carrier is associated with which phone number.
    3. SIM Swap the phone - This is hit or miss. It usually entails either getting a part-time job at a mobile carrier, or bribing a friend that works there. There are reports of SIM swaps selling for as little as $20
    4. Claim "lost password" on Email account - In most cases, this will trigger the email carrier to send a one-time password to the phone on file. With this, the sim swapper has now elevated their attack to taking over the users email.
    5. Assume userid is same on email and exchange - Most users like JYellen@cmail.com will also have an exchange account userid of JYellen
    6. Claim lost password on Exchange - With the guessed userid the attacker can file a lost password claim. Crappy exchanges will then email a lost password link to your email. Once they change the password, they still need the 2FA to gain full access. Also, in some cases, the user database leak, like with YahooMail, will include the password. If users recycle their password, then attackers can get userid/password for your email and your exchange.
    7. Claim lost phone (2FA) on Exchange - Some exchanges, incredibly, will let users simply strip the Authenticator 2FA off their account by claiming "lost 2FA". This will trigger a validation email, but since the hacker already hacked the email, they can answer that challenge.

    Few ways to prevent this:

    • Don't use same user-id or same passwords on accounts. If JYellen didn't reuse her username on cmail and the exchange, this linkage would have broken.
    • Don't use the same email on your exchange as the forums. If JYellen would not have used her cmail on both CoinMarketCap site and the exchange, this link would have been broken.
    • Tighten security on your email - Some email providers allow users to disable the "lost password" and "lost 2FA" features on the email account. This means if you lose your email password or email 2FA, you give them permission to delete your account. Many attacks don't guess your password, they just claim to be you and that the password is lost or forgotten.
    • Use better 2FA - Ultimately crappy "lost password / 2FA" workflows are not your fault and can't be avoided, but sometimes better 2FA can help. If you use hardware-2FA they often have different workflows than the "lost phone" workflow. Basically, you want it to be as difficult as possible to navigate a lost password or lost 2FA situation. So choose the one that is the hardest to reset.
    • Don't keep funds on exchange - The problem with exchanges is that you put your trust in the exchange to maintain some semblance of good sense. Unfortunately when exchanges get thousands of lost password tickets every day, they are often tempted to loosen the requirement for password resets. Often at the behest of the very customers they are trying to secure. If you simply stop trusting the exchanges to hold your balance week after week, then you can secure your accounts better (sometimes) outside of an exchange. This way, you are the only one you have to trust, not a password-reset admin.

    In a perfect world, exchanges would lock accounts down for weeks if someone claiming to be you said they lost their phone with all their 2FA on it. But the world isn't perfect. Coinbase recently admitted that their lost secret workflow was flawed.

    Just be careful out there.

    submitted by /u/brianddk
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    Two of the biggest bitcoin mining companies in the world are battling it out in a Texas town of 5,600 people

    Posted: 31 Oct 2021 05:03 PM PDT

    Bitcoin Exponential Growth

    Posted: 01 Nov 2021 04:40 AM PDT

    How cool is it that on the anniversary of the whitepaper, Bitcoin puts in an all-time high monthly close?

    Posted: 31 Oct 2021 09:42 PM PDT

    A: Very cool.

    submitted by /u/keanu4EvaAKitten
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    Matt Damon to Star in Crypto.com Ads to Lure New Users ($BTC) - Bloomberg

    Posted: 31 Oct 2021 07:10 PM PDT

    Pay rent or BTC?

    Posted: 31 Oct 2021 11:44 AM PDT

    I just realized that I have $ 1,000 in cash.

    I can pay my rent or I can buy BTC and go live in a tent outside!

    What would you do?

    Edit: I see a lot of misinformation regarding rent

    I attach the rent i want to pay ...

    worth 1,000 ...

    It's half a bed room in San Francisco Mission district.

    submitted by /u/bobbytabl3s
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    Took a note from you all! 24 word seed phrase is now safe from fire, water, corrosion, and if anyone wants it, it’s heavy enough to hurt them bad when thrown ;) Stainless Steel Seed FTW all the way to the moon! Oh, and HODL! (Ledger Nano S for scale)

    Posted: 31 Oct 2021 03:41 PM PDT

    I'm thinking about selling later this year to donate to a reforestation project, if not donating BTC directly to a reforestation project. Do you guys have any recommendations?

    Posted: 01 Nov 2021 01:29 AM PDT

    I'm new to this, so I would like to know what charities or reforestation projects there are that do all of these things. I personally think that by making this move we are sending a message to the people who are still misled by bitcoin's carbon footprint, which, I might add, is much smaller than the entire video-streaming industry's carbon footprint.

    I'm wondering if we can make this a community movement?

    If we take this article at face value, which I believe is somewhat disingenuous, then mining 1 bitcoin creates 191 tonnes of CO2:
    https://www.visualcapitalist.com/comparing-the-carbon-footprint-of-gold-and-bitcoin/

    And if we take this article at face value, then 6 trees offsets one tonne of CO2:
    https://co2living.com/reduce-your-carbon-footprint-by-planting-a-tree/

    I've seen some websites that state 1 tree can be planted for 2 dollars. If all of the above is true and you own 1 bitcoin, then you would be looking at spending $2 x 191 x 6, or $2,292 USD to offset the carbon footprint that it took to make that 1 bitcoin.

    I'm willing to do that and a little more. I do drive a car, and I do plenty of things that leave me carbon-positive.

    submitted by /u/sgtslaughterTV
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    Example of a propaganda hit piece. New lies about how remittances are impractical. New attempts to co-opt and obfuscate the term Gresham's Law, claiming ETF money is the good money driving out the bad. Expect more repetition of these points in coming media pieces.

    Posted: 31 Oct 2021 04:36 PM PDT

    Nigeria is the first African country to introduce Central Bank Digital Currency - Blockbulletin

    Posted: 01 Nov 2021 04:05 AM PDT

    Joe Rogan is a big fan of Michael Saylor already

    Posted: 31 Oct 2021 05:35 AM PDT

    Best way to buy Bitcoin avoiding fee’s?

    Posted: 01 Nov 2021 03:44 AM PDT

    Is Gemini the cheapest exchange to buy BTC? I believe I've read that Gemini also offers free withdrawals which could be used to send btc to another exchange or cold storage.

    I've been DCA on both Voyager and Blockfi for a while (used stuff like Kraken in past) and I'm looking to begin buying somewhere else that has less fees/spread.

    Any help or advice is greatly appreciated. The end goal of course is to have the btc end up in cold storage!

    Coinbase and Binance and certain exchanges are not allowed in my state (Hawaii)

    submitted by /u/Just_a_Commenterr
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