Bitcoin Basic

Bitcoin Basic

Security section

Password Strategies

Password Strategies: The Good, The Bad, and The World's Worst:

 

Do you remember the first online password you ever used? Chances are it probably wasn't all that secure. Fast forward to today, there's no shortage of credible, easy to digest information about safe passwords and online security available. In spite of this, the use of weak password strategies still continues to prevail. To help ensure your passwords do their job as your first line of defense, we're here to explain how valuable a strong password strategy is and show you common weaknesses shared by the world's worst, most horrible, no-good, very bad passwords. Did we mention they're downright despicable? Illustration showing the results of weak password strategies on the left and strong password strategies on the right

The importance of strong password strategies

We've yet to know the full scope of data breaches worldwide, according to the ITRC. While users may not have the power to prevent every type of hacking or data breach, password choice is one among several preventative tools that are 100% in the user's control. Privacy, Security: On a platform like ours, strong password strategies become even more valuable because your wallet credentials are never stored on our end so we can't recover them for you. Your choice of password and two-step verification method are two of the most effective ways you can be proactive about theft prevention. Password management firm SplashData released its very first Worst Passwords List back in 2011. The passwords came from records of account data that had unfortunately been leaked and made public by hackers. Since then in an effort to encourage widespread use of stronger passwords, SplashData continues to release a new worst of the worst list each year. Whenever you're ready, prepare for some serious cringe as we look at the Top 10 Worst Passwords of 2016. 123456 password 12345 12345678 football qwerty 1234567890 1234567 princess 1234 An example of weak password strategies using the overly attached girlfriend meme with text "My Password? It's my first name and your last name" From extreme predictability to lack of character diversity and length, these passwords are unoriginal, indisputably weak and should never be used. Since the initial release of SplashData's list, not too much has changed as far as which passwords grab the top spots. The reigning champion for multiple years in a row was "password" (yes, you read that right), which thankfully lost its first place title in 2013. Sadly, stealing the crown each year since has been the equally lackluster "123456". To view SplashData's full list of the top 25 worst passwords of 2016, click here. Where to go from here? If any of your current passwords are reflected on the list above, it's definitely time for an overhaul. Here are three building blocks to a strong password strategy any user can easily incorporate: Make it unique (and never use the same password twice) Use at least 16 characters Incorporate a healthy assortment of upper and lowercase characters, symbols, and numbers

Bitcoin Transaction And Important Of Its Fee

This Article Will Cover The Why And How Surrounding BitCoin Transactions Fee I want to dig further into the details and answer some of the most common questions about bitcoin transaction fees. How can I calculate my transaction size so I'll know what fee to attach to it? You can't easily do this on your own, and thankfully, many wallets can do this for you. For example, the Blockchain Wallet uses dynamic fees that calculate the required fee for you so that your transaction will confirm as reliably and quickly as possible. You also have the option to set your fees manually by using Advanced Send. Different wallets handle fees differently, and you should find out how your wallet handles the fees for you (if at all). What happens if I don't attach any fees to my bitcoin transaction? Before transactions get packaged into blocks and inserted into the blockchain they wait around in the transaction pool, also known as the memory pool (or mempool for short). Each transaction in the mempool has a certain degree of priority. The priority is based on a number of coins sent (higher = greater priority) , the age of the coins (older = greater priority) and the transaction size (smaller = greater priority). I will not go into detail about what each of these parameters means, but what is important to understand is this: some transactions have such a high priority that they don't even need any fees attached. The first 50kb of each of transaction space in each block is set aside for high priority transactions. Other transactions may sit in the mempool for a long time, mature, and then finally move forward in priority in order to be included in the next block. What if my transaction is still stuck in the mempool due to low fees or low priority? If your transaction is stuck, it will either sit there long enough to gain a higher priority, or it will get rejected and flushed out of the mempool (Memory Pool )within roughly a week (in most cases). Once it's been rejected, you'll be able to try re-sending with a higher fee. Some wallets will give you the option to resend a specific transaction with higher fees in case it's not confirmed; however, if you use a wallet with dynamic fees, you can likely avoid this entirely. As a last resort, miners will sometimes have spare space left in their block and will include zero transaction fees on a best effort basics, but it's not recommended to count on this method. To wrap things up: Fees should be calculated depending on the transaction size (and it's not based on the amount of bitcoin being sent). This can be done automatically by your wallet (e.g. dynamic fees). If your transaction isn't confirmed for a long time, either check with your wallet if you can change the fee attached to it or wait for it to get flushed out of the network and then resend it.

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