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Brushless4500KV

The effect of visible or invisible ledger on the security of a coin.

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Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

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It is expected that the security of the currency will affect visible or invisible accounts.  The coins that have not been seen will be in good shape.

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I think that when we use Bitcoin or cryptocurrency, we should strengthen our wallet and exchange site passwords, and we should worry about securing our account, because hackers are at risk of being hacked because cryptocurrencies are based online.

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Even though the coins are actually visible or invisible, we still need protection because if we see the coins in the cryptocurrency, we would better try to protect them.  And even if you don't see it, we still need to be protected because cryptocurrency currencies are essentially virtual currencies, and they really have to be careful.

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I have already heard or learn in many topics here on Cryptotalk where the people still think that cryhptocurrency or Bitcoin transaction can be tracked! this is not possible because all transaction are anonymous, but yes we need the protection for our wallet of course we need to invest in our protection or they will stole our wallets.

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3 hours ago, sdsonjoy50 said:

I think that when we use Bitcoin or cryptocurrency, we should strengthen our wallet and exchange site passwords, and we should worry about securing our account, because hackers are at risk of being hacked because cryptocurrencies are based online.

I agree with you, I also think we should look at the password and security of wallet and exchange sites when using Bitcoin, I also look into these issues when using my cryptocurrency.

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4 hours ago, sdsonjoy50 said:

I think that when we use Bitcoin or cryptocurrency, we should strengthen our wallet and exchange site passwords, and we should worry about securing our account, because hackers are at risk of being hacked because cryptocurrencies are based online.

Your concern is legit as these things are vulnerable to bad sites. 

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I think so. The privacy coins are definitely more safer than bitcoin. They do not reveal any data to the public. But bitcoin show the wallet balance that may help the scammers to target the big accounts and get huge profit. But the security is not less enough to make the bitcoin a bad coin. Though its security is little more weaker than the privacy coins still it is the best to use. And the privacy coins also can be used for dark world crime easily. 

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Yes..ledger wallet affects on the visible or invisible coins wallet.it provide a good security to our coins which we stored in it..and it looks like invisible that hackers can't be hack it.

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7 hours ago, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

I dont think so that privacy coins are not important as bitcoin is important, If privaacy coins important then why they are not getting up and having a good price as well as high market cap. Peoples only trust bitcoin the most whether it anonymous or not. 

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A visible ledger means that everyone can take a look at your wallet and find out exactly how many Bitcoins you own. This can be used for malicious purposes by criminals who acquired your data, since 99% of users already sent their ID to someone online (exchange,project). All ID's have been leaked be sure of this. And all addresses are connected with the ID's. These criminals can target Bitcoin owners in various ways, like hacking or extortion.

There are ways to hide and Wasabi wallet offers one with Coinjoin that mixes transactions and create new addresses that can't be traced to the previous owner.

Edited by BTC Future

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I think to avoid hacking we have to tighten the name of our wallet security, so that in order to avoid the name of hacking. Nowadays there are many who experience it in Cryptorency, but I think a Blockchain-based system is definitely safe.

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23 hours ago, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

For me, I believe that the open ledger has two sides, one positive and the other negative, the positive side is that these transactions can be seen by everyone and involved in blogging in the open ledger and the negative side is that hackers or even governments can track all of your transactions. Hence some people use the Mixer service to hide the effect of tracking their Bitcoin transactions because they do not want anyone to see it.

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20 minutes ago, Crypto123 said:

For me, I believe that the open ledger has two sides, one positive and the other negative, the positive side is that these transactions can be seen by everyone and involved in blogging in the open ledger and the negative side is that hackers or even governments can track all of your transactions. Hence some people use the Mixer service to hide the effect of tracking their Bitcoin transactions because they do not want anyone to see it.

I personally believe that privacy coins like Monero and Zcash can be safer than other coins with public blockchain because they attract less attention. If scammers and hackers can see people's balances and transactions, they can find rich people and target them for later phishing or scamming. This is the first level. The next level is how strong a coin (or blockchain) structure (or protocol) is against hacking. If a hacker can pass these levels, he can access your funds.

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Just now, Brushless4500KV said:

I personally believe that privacy coins like Monero and Zcash can be safer than other coins with public blockchain because they attract less attention. If scammers and hackers can see people's balances and transactions, they can find rich people and target them for later phishing or scamming. This is the first level. The next level is how strong a coin (or blockchain) structure (or protocol) is against hacking. If a hacker can pass these levels, he can access your funds.

So what makes Bitcoin so much superior to coins like ZCash and Monero? These coins can be safer technically as you say my friend, but there are many other factors that attract people to coins. People still prefer bitcoin, despite being less secure in terms of traceability, as well as in terms of high fees and slow transfers across the network. But these problems were solved by the Bitcoin Lightning Network as well as by the Mixer Service.

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In fact, if we make a good deal of security in the wallets that we see in our wallets, to protect the coins, we can protect our visible coins a lot.  And in the case of invisible currencies, there are actually many security measures in the blockchain system which are protected.  So keeping the visible and invisible currency is really very important in crypto currency.

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Of course, it's better to use or implement a invisible ledger so that your coins or wallet will not be shown or seen by others to avoid being hacked or stolen of coins even in the developers of a wallet it is needed that they implement a invisible ledger.

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The visible or invisible ledger is completely safe and cannot be hacked, even if that was possible for that was done for a while, and for this I do not think it can be hacked or tracked identities

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On 1/20/2020 at 2:51 PM, Rahul21 said:

Even though the coins are actually visible or invisible, we still need protection because if we see the coins in the cryptocurrency, we would better try to protect them.  And even if you don't see it, we still need to be protected because cryptocurrency currencies are essentially virtual currencies, and they really have to be careful.

I think we should be concerned about securing our account, for the reason that hackers are at peril of heart hacked for the reason that cryptocurrencies are based online.

On 1/20/2020 at 2:51 PM, Rahul21 said:

Even though the coins are actually visible or invisible, we still need protection because if we see the coins in the cryptocurrency, we would better try to protect them.  And even if you don't see it, we still need to be protected because cryptocurrency currencies are essentially virtual currencies, and they really have to be careful.

I think we should be concerned about securing our account, for the reason that hackers are at peril of heart hacked for the reason that cryptocurrencies are based online.

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On 1/20/2020 at 3:44 PM, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledger?

I think invisible ledger is more safe because hackers mostly hack that wallets which have more amounts. They only want to make efforts to hack for big amounts. And in case of invisible ledger they could not see the amount and hacking chances reduce.

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Well I think what ever happen it will always depend on the credibility of the wallet and how secure it is, it will depend on the code that they use to prevent from hackers.

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On 1/21/2020 at 3:58 PM, Yawar said:

Well You do know that is all visible on the public blockchain right? It's not a security issue or a travesty. I think you just don't know how crypto works  If You want to extra tinfoil hat safe........install ledger live on a USB. Then you can store the usb offline and only fire up the wallet when making transactions.

You are right the blockchain security is an secure transaction method and the developers of all the digital currency have to research on their security every day on the crypto world there are many experts which want a way to enter the security of the coin .

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Only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without.

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On 1/20/2020 at 12:14 PM, Brushless4500KV said:

Recently, there have been lots of discussion about bitcoin security and safety in transaction. Some people are worried about bitcoin traceability and think bitcoin is not totally anonymous. As you know, bitcoin can only hide identities and transaction data and wallet balances are visible to public. This is a reason for the appearance of some privacy coins like Monero and Zcash. The ledger of these coins are invisible. You can make transactions without being traced by anyone. But what is important is that are privacy coins really safer than bitcoin?

Do you think safety is more related to a coin's protocol resistance against hacking or to its visible or invisible ledge

I knoww that there is alot of Confirmation for sure it is good. hackers if they want something they will take it ..

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If you hide everything, then you play in to the game of governments, they can easily ban the coin, citing some bullshit reason as money laundering, but when the transactions are visible, then they are assured nothing is hidden. only identities are, and even if they don't like it, they have to find a way to work with it.

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The asset is becoming increasingly popular among financial giants on Wall Street, and its limited supply of 21 million coins makes BTC highly resistant to inflation, unlike fiat currencies and gold. "Bitcoin can be called the hardest form of money – thanks to the fixed issuance schedule and halvings every four years. The release rate of new coins gradually decreases, thereby increasing bitcoin's long-term value," argued the Strike CEO.   Analysts from financial investment company Motley Fool also target a six-figure number. They suggested that bitcoin's rate could rise to $400,000 and possibly even reach $1 million. The reason, which has been mentioned many times, is the influx of money from institutional investors through spot ETFs. Motley Fool analysts noted that more and more pension funds and hedge funds, managing multi-billion dollar sums, are entering the bitcoin market. Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
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