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RE: New Cryptocurrency: Value now up to $79.24. Get GByte for every Bitcoin you own for free! BYTEBALL distribution - STEP-BY-STEP tutorial
Thanks, looks interesting.
How secure is making your BTC address known like this, though?
Well, I am not an expert, although I probably know more than most people new to cryptocurrencies and bitcoin.
You don't reveal your private keys. You NEVER EVER should have to reveal your private keys. Here you only sign USING your private keys to prove that you own the bitcoin saved in this address. This is 100% safe as it is impossible to calculate your private key by analyzing this signed message. Check out sha256 cryptographic algorythm if you want to know more.
So, as long as you follow the steps correctly and remember to secure your Electrum wallet by writing down the pass-phrase issued when you set up your wallet on a piece of paper and use a secure computer, it is secure to "make your BTC address know" like this, because actually you are not making it known. At least not the private key. Only the public key will be known, and yes, that's safe - it is one of the fundamentals of bitcoin security.
Thanks.
I just wasn't thinking - all I would advertise would be the same BTC address I advertise everytime someone transfers BTC to me.
The encryption is surely good enough, whether it be 256-bit or 512-bit. At any rate, that beats the little PIN on your traditional bank account.
What do you think motivates this giveaway of GBYTE?