Mnemonic recovery, but BTC address changed
Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
Global Circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
exclusive ownership: the private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution
no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome quota and proceres. If you know the other party's bitcoin address, you can pay
cross platform mining: users can explore the computing power of different hardware on many platforms
advantages
complete decentralization, without issuing institutions, it is impossible to manipulate the number of issues. Its distribution and circulation are realized through open source P2P algorithm
anonymity, tax exemption and supervision free
robustness. Bitcoin is completely dependent on P2P network and has no distribution center, so it cannot be shut down externally. Bitcoin price may fluctuate and collapse, and many governments may declare it illegal, but bitcoin and its huge P2P network will not disappear
no borders, cross-border. Cross border remittance will go through layers of exchange control agencies, and the transaction records will be recorded by many parties. But if you trade with bitcoin, enter the digital address directly, click the mouse and wait for the P2P network to confirm the transaction, a lot of money will pass. It does not go through any regulatory agencies and will not leave any cross-border transaction records
it is difficult for the cat to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency. But these counterfeit currencies are fragile and vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency. Many Shanzhai coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical
disadvantages
vulnerability of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities
transaction confirmation takes a long time. When bitcoin wallet is first installed, it will consume a lot of time to download historical transaction data blocks. In order to confirm the accuracy of data, bitcoin transaction will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed
the price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading
the public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless
warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
response time: January 25, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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You can check according to the following rules, and a mnemonic account can apply for different BTC addresses, [request new address]; According to the different address formats supported by different chain wallets, it is normal for bitcoin addresses to be different< br />
If you import mnemonics and find that the generated wallet address is a new one (which is inconsistent with the previously expected one), there may be three cases that need to be investigated one by one
case 1:
first of all, you need to verify whether the mnemonic words backed up before are wrong. Because imtoken can manage multiple wallet addresses, suppose you have two wallet addresses a and B in imtoken, and you want to back up wallet a, but you remember the mnemonic words of wallet B, then you are backing up wrong
Test Method:
myetherwallet can be used for cross validation. Myetherwallet is also a decentralized wallet, which supports the import of mnemonics. However, it should be noted that since myetherwallet is a web wallet, there will be many phishing websites, so users should pay attention to the authenticity of the website when logging in to myetherwallet, so as not to enter the phishing website by mistake and lead to asset theft. Log in to myetherwallet
if the address generated after you input mnemonics into myetherwallet is consistent with the address generated on imtoken, you can be sure that the backup error occurred when you backup mnemonics
case 2:
secondly, you need to make sure if you the mnemonic words incorrectly. If you the mnemonic words incorrectly, it is extremely possible to generate a new wallet address. The verification method is the same as the previous method, which uses myetherwallet to see if the generated wallet address is consistent with the address on imtoken
case 3:
in addition, it is also possible that you have set up a path. For cognitive problems about the path, you can go to the app help center to learn and view it