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7
But crypto wallets (owned by investors and operated by banks* and corporations) are independent and anonymous and secure from the government and bankers who operate them ..or so we are constantly told since crypto wallets started by governments and bankers and corporations subsidized by gov..... (media.scored.co)
posted 98 days ago by pkvi_stannum 98 days ago by pkvi_stannum +8 / -1
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– CrazyRussian 1 point 96 days ago +1 / -0

there is no server in BTC, and there is no any value storage at all.

Your BTC address is not the storage of value.

Nothing is a storage of the value in BTC.

BTC is a distributed storage of transactions between addresses , not some single-server storage of account values like you used to with banks.

There is no place in whole BTC system for storing value that is on your address. No such thing at all, so your assumption is just senseless.

If one want to know how many coins is currently available on some address he have to calculate a sum of all transactions to that address and subtract sum of all transactions from that address. No way around. And everyone who spread and sign block with yourr transaction will do that to check if you have enough at your address to make transaction you issued valid.

Only way to change sum some address currently can operate without creating additional transaction to(from valid address that have incoming transactions) or from (impossible without your private key) it, is to rebuild (and so re-mine) the whole blockchain since block with transaction you want to change.

There is no computer power on whole Earth to replace one transaction in blockchain in a reasonable time. Also, since transaction have two addresses, you can't do that without affecting the other address and so all following transactions connected with that address too. So you will have to change transactions of that second address too and who knows how long chains of transactions connected with that second address. It is just impossible at current level of our computer tech. Also you will have to somehow convince all other participants of BTC network to abandon current blockchain and accept your modified version of blockchain. I don't see how that could be done.

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– pkvi_stannum [S] 1 point 96 days ago +1 / -0

The address is the storage of value as it is a promissory key to equate a value defined in storage. You can not claim a thing has no value by giving it credibility of value to access. Either the BTC address IS the note of value (which it is not) or the key is access to the address where the storage of value is represented. You can not exclude the system when you can see inside the wallet when you insert a key unassigned by you.

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– CrazyRussian 1 point 96 days ago +1 / -0

There is no "storage of value" in BTC. Address is an endpoint for transaction. Number of endpoints in transaction is 10000 for input adresses and 65535 for output addresses.

BTC address is not a note of value, nor a key for access to a value. It is endpoint. BTC address private key allow you to issue a network-accepted request for transaction where this address is used as input. Nobody (you included) need any access to your address for anything else, including creating transactions where your address is output.

There is nothing except transactions in Bitcoin. No value storages, no accounts as in banks, nothing like that. Even miner block reward is transaction.

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– pkvi_stannum [S] 1 point 94 days ago +1 / -0

This same sort of line of logic where there is not a compilation so as to equate value is the same dogma that thinks encryption thru ISP is untouchable. There is a trail. There is a db of transactions. There are numerous companies that store your wallets, mining, etc -- hell one cunt mining company that stole my Doge ayh mined as an experiment bcz ayh did not collect it in time -- so how could they do this if the address was strictly mine? How do intelligence agencies recover crypto? The claims of no ledger is a lie. Data passes thru agencies you don't see -- the data is stored -- crypto is stored value -- made up value -- the address is a marker on a highway -- not the highway.

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– CrazyRussian 1 point 94 days ago +1 / -0

There are numerous companies that store your wallets

Again - if somebody else except you "store" your wallet - it is not your wallet. It is very simple idea, but somehow you assume that idiots who "have a crypto wallet at company_name site" instead of running their own on their own computer are the example of how things designed in crypto.

hell one cunt mining company that stole my Doge ayh mined as an experiment bcz ayh did not collect it in time

Why did you mined Doge using address that belong to some company, not you? There is no any need to "collect" mined sum, because you insert your address as first transaction (coinbase transaction) in the block you mined before it could be mined. As block you mined accepted by network, money is already yours. Only those who have a private key for that address could spend it. If you generated that address anywhere except your own computer, say on some site or whatever software that is not official crypto network utility (usually used for mining, but you don't have to mine anything to generate address, i.e. pair of keys - public and private), then it is not your address. If you put an address of mining company in the block you mined - then you just gifted your mining reward to that company, that's all.

Interesting how ignorance of people opens the doors for milking them. But still people don't want to know how things they use really work.

so how could they do this if the address was strictly mine?

Easily - it was not your address. Look at the block "you" mined. It have a miner address in first transaction. If it is not an address you generated on your own computer with official utility and never ever shared private key with anybody, then you was tricked.

How do intelligence agencies recover crypto?

Well... What do you know about thermorectal cryptoanalysis f..e. ? That type of cryptoanalysis that involve using soldering iron to uncover private key from person of interest. There are tons of dirty tricks used by agencies to force people give up anything, including private key for crypto address. From torture and threatening family to using corporations bloatware most like to install on their computers "because everybody use it" to steal private key.

Theoretically, it could be possible to brute froce such private key that will match desired address if you have enormous computer power, but it is highly ineffective, because it is faster and easier to just mine same sum.

Data passes thru agencies you don't see

So just do not pass your private key anywhere from your computer. If you don't pass something thru agencies, then agencies don't have access to it. Simple as that.

crypto is stored value -- made up value -- the address is a marker on a highway -- not the highway.

You still fall to the same lie that was created around crypto by all that swindlers who create all those cryptoexchanges, "safe and effective" online crypto wallets and other shit you see in internet.

Crypto is not a value, it is a distributed independent system for validated transactions between people. Nothing more, nothing less. It is up to you, what you transact. You can transact text messages, numbers, codes or math formulas through it. It will be stored in publicly accessible blockchain and will be a solid undeniable proof that one (or more) address transacted something to another address (or multiple addresses). You also could transact a symbolic units of symbolic reward miners get for their work of handling your transactions. This symbolic units acquired value because they have some properties similar to precious metals - hard to mine, can't be faked, could be used as universal exchange units. In addition, transfer of that symbolic units can't be stopped or prevented by any authorities. Latter, by itself have a value, that grows with introducing more and more restrictions and limitations in conventional banking.

Until you abandon your false notion of crypto as comething like conventional money, you will not understand what it is and will fall to the same traps many people, who didin't bothered to learn what is crypto, fall into, with different consequences including losing their money.

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