Bitcoin Thefts Surge, DDoS Hackers Take Millions

Question: Is there a BIP that proposes this: A protocol built-in plausible deniable $5 wrench theft protection. /r/Bitcoin

Question: Is there a BIP that proposes this: A protocol built-in plausible deniable $5 wrench theft protection. /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Groestlcoin 6th Anniversary Release

Introduction

Dear Groestlers, it goes without saying that 2020 has been a difficult time for millions of people worldwide. The groestlcoin team would like to take this opportunity to wish everyone our best to everyone coping with the direct and indirect effects of COVID-19. Let it bring out the best in us all and show that collectively, we can conquer anything.
The centralised banks and our national governments are facing unprecedented times with interest rates worldwide dropping to record lows in places. Rest assured that this can only strengthen the fundamentals of all decentralised cryptocurrencies and the vision that was seeded with Satoshi's Bitcoin whitepaper over 10 years ago. Despite everything that has been thrown at us this year, the show must go on and the team will still progress and advance to continue the momentum that we have developed over the past 6 years.
In addition to this, we'd like to remind you all that this is Groestlcoin's 6th Birthday release! In terms of price there have been some crazy highs and lows over the years (with highs of around $2.60 and lows of $0.000077!), but in terms of value– Groestlcoin just keeps getting more valuable! In these uncertain times, one thing remains clear – Groestlcoin will keep going and keep innovating regardless. On with what has been worked on and completed over the past few months.

UPDATED - Groestlcoin Core 2.18.2

This is a major release of Groestlcoin Core with many protocol level improvements and code optimizations, featuring the technical equivalent of Bitcoin v0.18.2 but with Groestlcoin-specific patches. On a general level, most of what is new is a new 'Groestlcoin-wallet' tool which is now distributed alongside Groestlcoin Core's other executables.
NOTE: The 'Account' API has been removed from this version which was typically used in some tip bots. Please ensure you check the release notes from 2.17.2 for details on replacing this functionality.

How to Upgrade?

Windows
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer.
OSX
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), run the dmg and drag Groestlcoin Core to Applications.
Ubuntu
http://groestlcoin.org/forum/index.php?topic=441.0

Other Linux

http://groestlcoin.org/forum/index.php?topic=97.0

Download

Download the Windows Installer (64 bit) here
Download the Windows Installer (32 bit) here
Download the Windows binaries (64 bit) here
Download the Windows binaries (32 bit) here
Download the OSX Installer here
Download the OSX binaries here
Download the Linux binaries (64 bit) here
Download the Linux binaries (32 bit) here
Download the ARM Linux binaries (64 bit) here
Download the ARM Linux binaries (32 bit) here

Source

ALL NEW - Groestlcoin Moonshine iOS/Android Wallet

Built with React Native, Moonshine utilizes Electrum-GRS's JSON-RPC methods to interact with the Groestlcoin network.
GRS Moonshine's intended use is as a hot wallet. Meaning, your keys are only as safe as the device you install this wallet on. As with any hot wallet, please ensure that you keep only a small, responsible amount of Groestlcoin on it at any given time.

Features

Download

iOS
Android

Source

ALL NEW! – HODL GRS Android Wallet

HODL GRS connects directly to the Groestlcoin network using SPV mode and doesn't rely on servers that can be hacked or disabled.
HODL GRS utilizes AES hardware encryption, app sandboxing, and the latest security features to protect users from malware, browser security holes, and even physical theft. Private keys are stored only in the secure enclave of the user's phone, inaccessible to anyone other than the user.
Simplicity and ease-of-use is the core design principle of HODL GRS. A simple recovery phrase (which we call a Backup Recovery Key) is all that is needed to restore the user's wallet if they ever lose or replace their device. HODL GRS is deterministic, which means the user's balance and transaction history can be recovered just from the backup recovery key.

Features

Download

Main Release (Main Net)
Testnet Release

Source

ALL NEW! – GroestlcoinSeed Savior

Groestlcoin Seed Savior is a tool for recovering BIP39 seed phrases.
This tool is meant to help users with recovering a slightly incorrect Groestlcoin mnemonic phrase (AKA backup or seed). You can enter an existing BIP39 mnemonic and get derived addresses in various formats.
To find out if one of the suggested addresses is the right one, you can click on the suggested address to check the address' transaction history on a block explorer.

Features

Live Version (Not Recommended)

https://www.groestlcoin.org/recovery/

Download

https://github.com/Groestlcoin/mnemonic-recovery/archive/master.zip

Source

ALL NEW! – Vanity Search Vanity Address Generator

NOTE: NVidia GPU or any CPU only. AMD graphics cards will not work with this address generator.
VanitySearch is a command-line Segwit-capable vanity Groestlcoin address generator. Add unique flair when you tell people to send Groestlcoin. Alternatively, VanitySearch can be used to generate random addresses offline.
If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then VanitySearch is the right choice for you to create a more personalized address.
VanitySearch is a groestlcoin address prefix finder. If you want to generate safe private keys, use the -s option to enter your passphrase which will be used for generating a base key as for BIP38 standard (VanitySearch.exe -s "My PassPhrase" FXPref). You can also use VanitySearch.exe -ps "My PassPhrase" which will add a crypto secure seed to your passphrase.
VanitySearch may not compute a good grid size for your GPU, so try different values using -g option in order to get the best performances. If you want to use GPUs and CPUs together, you may have best performances by keeping one CPU core for handling GPU(s)/CPU exchanges (use -t option to set the number of CPU threads).

Features

Usage

https://github.com/Groestlcoin/VanitySearch#usage

Download

Source

ALL NEW! – Groestlcoin EasyVanity 2020

Groestlcoin EasyVanity 2020 is a windows app built from the ground-up and makes it easier than ever before to create your very own bespoke bech32 address(es) when whilst not connected to the internet.
If you're tired of the random, cryptic bech32 addresses generated by regular Groestlcoin clients, then Groestlcoin EasyVanity2020 is the right choice for you to create a more personalised bech32 address. This 2020 version uses the new VanitySearch to generate not only legacy addresses (F prefix) but also Bech32 addresses (grs1 prefix).

Features

Download

Source

Remastered! – Groestlcoin WPF Desktop Wallet (v2.19.0.18)

Groestlcoin WPF is an alternative full node client with optional lightweight 'thin-client' mode based on WPF. Windows Presentation Foundation (WPF) is one of Microsoft's latest approaches to a GUI framework, used with the .NET framework. Its main advantages over the original Groestlcoin client include support for exporting blockchain.dat and including a lite wallet mode.
This wallet was previously deprecated but has been brought back to life with modern standards.

Features

Remastered Improvements

Download

Source

ALL NEW! – BIP39 Key Tool

Groestlcoin BIP39 Key Tool is a GUI interface for generating Groestlcoin public and private keys. It is a standalone tool which can be used offline.

Features

Download

Windows
Linux :
 pip3 install -r requirements.txt python3 bip39\_gui.py 

Source

ALL NEW! – Electrum Personal Server

Groestlcoin Electrum Personal Server aims to make using Electrum Groestlcoin wallet more secure and more private. It makes it easy to connect your Electrum-GRS wallet to your own full node.
It is an implementation of the Electrum-grs server protocol which fulfils the specific need of using the Electrum-grs wallet backed by a full node, but without the heavyweight server backend, for a single user. It allows the user to benefit from all Groestlcoin Core's resource-saving features like pruning, blocks only and disabled txindex. All Electrum-GRS's feature-richness like hardware wallet integration, multi-signature wallets, offline signing, seed recovery phrases, coin control and so on can still be used, but connected only to the user's own full node.
Full node wallets are important in Groestlcoin because they are a big part of what makes the system be trust-less. No longer do people have to trust a financial institution like a bank or PayPal, they can run software on their own computers. If Groestlcoin is digital gold, then a full node wallet is your own personal goldsmith who checks for you that received payments are genuine.
Full node wallets are also important for privacy. Using Electrum-GRS under default configuration requires it to send (hashes of) all your Groestlcoin addresses to some server. That server can then easily spy on your transactions. Full node wallets like Groestlcoin Electrum Personal Server would download the entire blockchain and scan it for the user's own addresses, and therefore don't reveal to anyone else which Groestlcoin addresses they are interested in.
Groestlcoin Electrum Personal Server can also broadcast transactions through Tor which improves privacy by resisting traffic analysis for broadcasted transactions which can link the IP address of the user to the transaction. If enabled this would happen transparently whenever the user simply clicks "Send" on a transaction in Electrum-grs wallet.
Note: Currently Groestlcoin Electrum Personal Server can only accept one connection at a time.

Features

Download

Windows
Linux / OSX (Instructions)

Source

UPDATED – Android Wallet 7.38.1 - Main Net + Test Net

The app allows you to send and receive Groestlcoin on your device using QR codes and URI links.
When using this app, please back up your wallet and email them to yourself! This will save your wallet in a password protected file. Then your coins can be retrieved even if you lose your phone.

Changes

Download

Main Net
Main Net (FDroid)
Test Net

Source

UPDATED – Groestlcoin Sentinel 3.5.06 (Android)

Groestlcoin Sentinel is a great solution for anyone who wants the convenience and utility of a hot wallet for receiving payments directly into their cold storage (or hardware wallets).
Sentinel accepts XPUB's, YPUB'S, ZPUB's and individual Groestlcoin address. Once added you will be able to view balances, view transactions, and (in the case of XPUB's, YPUB's and ZPUB's) deterministically generate addresses for that wallet.
Groestlcoin Sentinel is a fork of Groestlcoin Samourai Wallet with all spending and transaction building code removed.

Changes

Download

Source

UPDATED – P2Pool Test Net

Changes

Download

Pre-Hosted Testnet P2Pool is available via http://testp2pool.groestlcoin.org:21330/static/

Source

submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

The Decade in Blockchain — 2010 to 2020 in Review

2010

February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later.
April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC
May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD)
June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public
July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’
July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established
August —Bitcoin protocol bug leads to emergency hard fork
December — Satoshi Nakamoto ceases communication with the world

2011

January — One-quarter of the eventual total of 21M bitcoins have been generated
February — Bitcoin reaches parity for the first time with USD
April — Bitcoin reaches parity with EUR and GBP
June — WikiLeaks begins accepting Bitcoin donations
June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin
August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines
October — Litecoin released
December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.

2012

May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue
July — Government of Estonia begins incorporating blockchain into digital ID efforts
September — Bitcoin Foundation created
October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service
November — First Bitcoin halving to 25 BTC per block

2013

February — Reddit begins accepting bitcoins for Gold memberships
March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike.
May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation
May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70
June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder
July — Mastercoin becomes the first project to conduct an ICO
August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money
October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins
November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform
December — The first commit to the Ethereum codebase takes place

2014

January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami
February — HMRC in the UK classifies Bitcoin as private money
March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not
April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger
June — Ethereum Foundation established in Zug, Switzerland
June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper
July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days
September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap
October — ConsenSys is founded by Joe Lubin
December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments

2015

January — Coinbase opens up the first U.S-based cryptocurrency exchange
February — Stripe initiates bitcoin payment integration for merchants
April — NASDAQ initiates blockchain trial
June — NYDFS releases final version of its BitLicense virtual currency regulations
July — Ethereum’s first live mainnet release—Frontier—launched.
August — Augur, the first token launch on the Ethereum network takes place
September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months
October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss
November — Announcement of first zero knowledge proof, ZK-Snarks
December — Linux Foundation establishes Hyperledger project

2016

January — Zcash announced
February — HyperLedger project announced by Linux Foundation with thirty founding members
March — Second Ethereum mainnet release, Homestead, is rolled out.
April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M
May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members
June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account
July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic
July — Second Bitcoin halving to 12.5BTC per block mined
November — CME Launches Bitcoin Price Index

2017

January — Bitcoin price breaks US$1,000 for the first time in three years
February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later
March — Multiple applications for Bitcoin ETFs rejected by the SEC
April — Bitcoin is officially recognized as currency by Japan
June — EOS begins its year-long ICO, eventually raising $4 billion
July — Parity hack exposes weaknesses in multisig wallets
August — Bitcoin Cash forks from the Bitcoin Network
October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis
September — China bans ICOs
October — Bitcoin price surpasses $5,000 USD for the first time
November — Bitcoin price surpasses $10,000 USD for the first time
December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits

2018


January — Ethereum price peaks near $1400 USD
March — Google bans all ads pertaining to cryptocurrency
March — Twitter bans all ads pertaining to cryptocurrency
April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year
April — EU government commits $300 million to developing blockchain projects
June — The U.S. Securities and Exchange Commission states that Ether is not a security.
July — Over 100,000 ERC20 tokens created
August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange
October — Bitcoin’s 10th birthday
November — VC investment in blockchain tech surpasses $1 billion
December — 90% of banks in the US and Europe report exploration of blockchain tech

2019

January — Coinstar machines begin selling cryptocurrency at grocery stores across the US
February — Ethereum’s Constantinople hard fork is released, part two of Metropolis
April — Bitcoin surpasses 400 million total transactions
June — Facebook announces Libra
July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain”
August — Ethereum developer dominance reaches 4x that of any other blockchain
October — Over 80 million distinct Ethereum addresses have been created
September — Santander bank settles both sides of a $20 million bond on Ethereum
November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
submitted by blockstasy to CryptoTechnology [link] [comments]

Groestlcoin September 2019 Development Release/Update!

For a more interactive view of changes, click here
In our current world; bordering on financial chaos, with tariff wars, Brexit and hyperinflation rife, you can count on Groestlcoin to consistently produce innovation that strikes to take the power away from the few and into the many, even after a full five and a half years of solid development.
Here is what the team has already announced in the last 3 months since the last development update:

What's Being Released Today?

Groestl Nodes

What am I?

Groestl Nodes aims to map out and compare the status of the Groestlcoin mainnet and testnet networks. Even though these networks share the same protocol, there is currently no way to directly compare these coins in a single location. These statistics are essential to evaluate the relative health of both networks.

Features

Source - Website

Groestlcoin Transaction Tool

What am I?

This is a tool for creating unsigned raw Groestlcoin transactions and also to verify existing transactions by entering in the transaction hex and converting this to a human-readable format to verify that a transaction is correct before it is signed.

Features

SourceDownload

Groestlcoin AGCore

What am I?

AGCore is an Android app designed to make it easier to run a Groestlcoin Core node on always-on Android appliances such as set-top boxes, Android TVs and repurposed tablets/phones. If you are a non-technical user of Groestlcoin and want an Android app that makes it easy to run a Groestlcoin Core node by acting as a wrapper, then AG Core is the right choice for you.

What's Changed?

Source - Download

Groestlcoin Electrum

What's Changed?

Android Electrum-Specific

OSXWindowsWindows StandaloneWindows PortableLinux - Android
Server SourceServer Installer SourceClient SourceIcon SourceLocale Source

Android Wallet – Including Android Wallet Testnet

What am I?

Android Wallet is a BIP-0032 compatible hierarchial deterministic Groestlcoin Wallet, allowing you to send and receive Groestlcoin via QR codes and URI links.

V7.11.1 Changes

Groestlcoin Java Library SourceSource - DownloadTestnet Download

Groestlwallet

What am I?

Groestlwallet is designed to protect you from malware, browser security holes, even physical theft. With AES hardware encryption, app sandboxing, keychain and code signatures, groestlwallet represents a significant security advance over web and desktop wallets, and other mobile platforms.
Simplicity is groestlwallet's core design principle. Because groestlwallet is "deterministic", your balance and entire transaction history can be restored from just your recovery phrase.

iOS 0.7.3 Changes

Android v89 Changes

iOS SourceAndroid Source - Android DownloadiOS Download

Groestlcoinomi Released

What am I?

Groestlcoinomi is a lightweight thin-client Groestlcoin wallet based on a client-server protocol.

Groestlcoinomi v1.1 Desktop Changes

Groestlcoinomi Android v1.6 Changes

Groestlcoin Java Library SourceAndroid Source
Android DownloadWindows DownloadMac OS DownloadLinux Download

Groestlcoin BIP39 Tool

What's Changed?

Source - Download
submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

BetterHash for Monero

What is BetterHash

Currently, mining pools are responsible for consensus. They run the full node and dispatch work to miners to create blocks. BetterHash is a protocol which allows miners to run full nodes and create blocks, the mining pool only serves to share the block reward. This means many more mining nodes controlled by different individuals. Miners have to remain active they cannot sit back and become an "NPC" miner.
https://www.youtube.com/watch?v=0lGO5I74qJM
It is also more secure and efficient than the stratum protocol.

Why Mining Pools can be Dangerous

A few pools could easily represent more than 50% of the hashpower, especially for small networks like BCH. Exchanges could form secret agreements with several pools such that when they get notified of a large theft they work to perform a reorg - in return for a cut of the recovered funds - providing the reorg is small. The fact the CZ even considered this by approaching several pool owners & large miners shows BTC is becoming too centralized.
Because Pools represent miners, they can do something dirty for a short time before the miners realize a chain reorg occured and once its done its too late.
Pool owners can't be trusted to act in the interest of their miners. Case and point Bitcoin.com, forced all BTC miners to mine BCH during the hashwar despite it being unprofitable to do so.

Adoption of BetterHash

The BTC mining is controlled by ASICS, and there hasn't been that much traction so far. But seeing has moneros mining protocol is being designed with the intent to be accessible to everyone we might get better adoption and it would prove more useful.
If monero adopted BetterHash, it will be seen as ASIC free & fully decentralized I think no coin could achieve this...

What can be done

BetterHash is written in rust, I am not sure what dependencies exist with the consensus libraries of the full node. But I assume they might need to be written in rust...

Edit link to BIP: https://github.com/TheBlueMatt/bips/blob/mastebip-XXXX.mediawiki
submitted by Spartan3123 to Monero [link] [comments]

The Logical Problem That Led to The Split of Cash and Core

There is a lot of noise in crypto. Something about creating the wild west of Ponzi schemes along with trying to kill the golden goose for big banks seems to have awoken the Kraken; the depravity of human greed. No censorship is too severe, no propaganda too unethical and no theft is too shameful in our current landscape. There is more honour in war than in crypto today.
But beyond the noise of politics (which do matter but for dishonest reasons), there are only two real issues in crypto. There is the math and there is the economic game theory.
I'd like to make a comment about one aspect of the economic game theory which is the root of the split between cash and core: Transaction fees.
As most of you know, the bigger the block the more transactions you can fit in each block. Assuming the hash rate is stable, each successive block is limited by time - ten minutes in our case. This means that if the block size cannot fit all transactions then a decision must be made by the miners as to which transactions to include.
This is simple supply and demand. Once the transaction requests increase beyond what can be fit into a block there must be some competition for space. The Bitcoin protocol has a built in transaction fee to allow users to bid for space.
Here's the problem: Satoshi determined that block rewards are a good way to encourage miners to mine in the beginning, but decided that long term there should be an immutable number of coins and all mining profits should come from transaction fees. This means that if Bitcoin is not adopted by enough people as the block rewards dwindle then miners will be paid too poorly for their efforts to continue and the hash rate will plummet. For Bitcoin to survive, the hash must flow.
The problem is that Satoshi vanished before he figured out this problem. The reigns of Bitcoin were left to a bunch of people who were led astray by their own arrogance, shortcomings and greed. The details are not relevant to this post. Satoshi solved the problem of determining transaction fees but did not make any progress on how to scale block size. He did not find a way to drive block size by market forces in the same way that he drove transaction fees by market forces. Therefore, the community was left to determine it through political methods which have failed us in a predictable fashion.
If you leave the block size at 1mb then, as BCH supporters rightly assume, the fees will skyrocket as Bitcoin is adopted causing it to become unusable for the vast majority of people. This will cause altcoins to form and in general, Bitcoin adoption to halt and decline. The stall in adoption with the decrease in block rewards will inevitably kill Bitcoin. So, if you want to kill Bitcoin a good tactic is to resist raising the block size at all - precisely what Blockstream and Core is doing. If someone's motivations are unknown, infer them from the consequences of their actions.
On the other hand, if you raise the block size to infinity, or at least to a size much larger than any realistic demand, you will never have fees. Miners can, of course, set their own rules as to which transactions they will attach to the blocks they find causing people who do not attach a sufficient fee to be left in limbo. Inevitably, some good Samaritan will eventually mine a block and attach the massive number of transactions in the mempool (limbo) as a public service cutting those efforts off at the knees. No transaction fees with a reduction in block rewards mean the hash will not flow. For Bitcoin to exist, the hash must flow.

So what is the solution? As you will see from the rest of my suggestions, all aspects of crypto must be bound to market forces.

Maybe decreasing block rewards arbitrarily to 0 was a bad idea. First of all, over time coins are lost. Hard drives crash, people fail to back up their coins, people die and do not leave their heirs a way to claim their coins (potentially what happened with Satoshi's coins), people make mistakes with transactions, coins are stolen and anyone spending them will get a visit by the FBI, and so on. This means that the 21 million immutable number of coins is not really immutable at all. It will grow to 21 million total coins but due to human error that number will decrease causing deflation over time. Which means if you HODL Bitcoin for a few generations your heirs will be wealthy. You will produce nothing, contribute nothing, solve nothing, and be wealthy. That is not good for the future of mankind.
An inflationary system isn't evil. You do want the next generation of people to have a stake in the world and not just be slaves of those that came before them. You want to create a meritocracy where those with good ideas and the ability to solve problems the world has are rewarded. Therefore, inflation is a mechanism by which the value of hoarding is diminished over time. But this too must be in balance -- too much inflation and you create a situation where saving is futile as by the time you save for something your money is worth much less than before. Too little and the hoarders own the future. There must be a balance skewed to slight inflation. But how much inflation is correct?
Here I should mention that at one point in our future, should Bitcoin reach adoption, that these diminishing coins will become significant enough to be used as a political call to arms to change the rules. And if we change the rules arbitrarily by the whim of the rulers of the mob we will face as much chaos over that issue as we see now over the block size debate. Only the market can know and so a way must be found to bind this to the free market and we must solve this sooner rather than later.
The other problem is that the block size and transaction fees are not bound together by market forces. Transaction fees ARE bound by market forces but block size isn't. Block size is to be determined by central groups with enough clout to convince people to change the protocol. This has not worked out well for Bitcoin and it will continue to not work out well for Bitcoin. In fact, relying on political bodies to make decisions for a decentralized coin is the antithesis to its very purpose and, no surprise, is killing it.
The solution, then, is to frame new coin creation, transaction fees AND block size all to market forces. They must all be connected through game theory to one another so that the market affects all three, and negative manipulation of any of them is too costly to be worthwhile. This balance must be determined naturally without direct supervision by any software developer, any BIP, any conference, any celebrity, any blogger, or any subreddit.
THIS is the real discussion that should be taking place. Every other discussion, other than perhaps ones about the security of SHA256 or the dangers of quantum computing etc (again, MATH as I originally stated) are completely fruitless and are just noise to the reality of creating a truly decentralized coin.
The ability to create a truly decentralized currency that cannot be controlled by silver spoons or iron grips is, to the best of my analysis, the most essential defense against the Orwellian prophecy for the future of mankind;
"If you want a vision of the future, imagine a boot stamping on a human face - forever."
The stakes are high. The human race must come to consensus. The only possible way for this to occur is if consensus is driven by mathematics and the free market and not by politicians, character assassination, fear and censorship.
submitted by Aro2220 to btc [link] [comments]

Question: Is there a BIP that proposes this: A protocol built-in plausible deniable $5 wrench theft protection.

Here is the idea (vision):
On my address 1AbCdEfGhjKLmNpQrStUvW (or probably another address, not starting with "1", but anyway...), I have 1 bitcoin (or whatever). It is time locked until 17 Apr 2022, as everybody can readily see from the blockchain.
Some thief tries to steal my Bitcoin ($5 wrench attack). I say "I cannot send you the bitcoin, even if I wanted to! It is cryptographically time locked till 17 Apr 2022". The thief looks at the blockchain and sees that I am right. So he says "ok, then you give me the private key". So I give him the private key.
Now, fortunately, one day later or so, after the thief has left, I can unlock the bitcoin sitting in "1AbCdEfGhjKLmNpQrStUvW" already TODAY (year 2018), because(!) the transaction that sent the 1 bitcoin to "1AbCdEfGhjKLmNpQrStUvW" was a script specifying TWO conditions, only ONE of which needs to be fulfilled to spend the coin! Condition 1 is the default condition which is:
Condition 2 is:
The thing is, that acc. to this yet-to-be-defined BIP, this second condition is always present in this kind of "BIP y.t.b.d." transaction, also if it is not actively used! This is why it is plausible deniable! If the $5 wrench attacker asks me to give him the secret key of "qwertyuiopasdfghj", I can plausibly say "this does not exist. There only exists a secret key for "1AbCdEfGhjKLmNpQrStUvW". The point is that the person who sent me (i.e. to "1AbCdEfGhjKLmNpQrStUvW") the 1 bitcoin specified the lock time, but that person not necessarily specified the "early realease" hash of the private key (here "qwertyuiopasdfghj"), as this is just OPTIONAL by the protocol. If the sender does not specify that second "early release" hash, a random hash will be generated by the protocol as disguise, a hash for which no secret key exists at all.
So the attacker (or blockchain analyst) has no way to tell if that second condition (the "qwertyuiopasdfghj" hash) was set on purpose by the sender of that 1 bitcoin, or if it was set automatically as the standard default way.
So with this feature (BIP), we'd have a plausible deniable theft protection mechanism against the $5 wrench attack.
Another way of putting it: We need a multisig "1 of 2" script, for which ONE of the 2 is time-locked, the other is not.
Or is this possible already with today's protocol? If yes, we have the feature already, and I'd like to request to develop wallets that make use of this as GUI feature "send to yourself with time lock and plausible deniability of early spending".
submitted by Amichateur to Bitcoin [link] [comments]

Where can You Purchase BITHD Hardware Wallet??

Where can You Purchase BITHD Hardware Wallet??
Since the foundation in 2013, Bither Team has helped over 1.5 million users safely keep hundreds of thousands of bitcoins, ethereum and other major crypto-assets with its three products — Bither wallet (both Hot mode and Cold mode enabled), Bitpie wallet (hot wallet) and Cold Wallet: BitHD. Besides, Bither Wallet is the only wallet in China recommended by Bitcoin official website: bitcoin.org.
BitHD is a product matrix of 100% open source cryptocurrency hardware cold wallet solutions, which was initially launched on December 30th 2017 by the Bither Team after years of research and development.

BitHD family consists of 4 products up to Mar. 2019:

1. BitHD Watch 1 (launched on December 30th 2017)

https://preview.redd.it/z528l045mjs21.png?width=800&format=png&auto=webp&s=82bb2e1bc0d428735d22ea1ab3628600aed1ca85
2. BitHD Watch 2 (launched on January 18th 2019)
More intro: click
Purchse on:
  1. Amazon: Click.
  2. eBay: Click.

https://preview.redd.it/cgo293aamjs21.png?width=800&format=png&auto=webp&s=9b4e5e6bcdb1c63461a42094b60b438c25c10e26
3. BitHD Razor 1 (Card edition, launched on 8th March, 2019)
More intro: click
Purchse on:
  1. Amazon: Click.
  2. eBay: Click.

https://preview.redd.it/bo02p17imjs21.png?width=800&format=png&auto=webp&s=d480091f8e47fc2ab2221e759184990cba6bcaae
4. Frozen Armor — Metal Seeds/Mnemonics Storage Memorizer (released on 15 March 2019):
For More: Click
Purchase on:
  1. Amazon: Click.
  2. eBay: Click.

https://preview.redd.it/8jbeudfjmjs21.jpg?width=800&format=pjpg&auto=webp&s=71168d90c9dc184d990ac93d94cbf78ea49d9e9b

How to purchase by paying BTC or other coins:

Yeah, we accept BTC, USDT and other mainstream cryptocurrencies for purchase of our hardware items. Contact our client service and pay directly to them:
  1. Recommended: Telegram Bitpie Official Group, talk to the admin.
  2. Twitter Official, leave a message to us.
  3. Facebook Official, leave a message to us.
  4. Email: [[email protected]](mailto:[email protected]), [[email protected]](mailto:[email protected]).

Features:

  • 100% open source.
  • BIP 32/39/44 compatible
  • Bluetooth communication
  • Unlimited inputs/outputs in transaction
  • Unauthorized physical access to wallet protected by PIN
  • Password account — (protect private key leak)
  • No private keys leak risk in case of theft
  • Multiple signatures of BTC, ETH, EOS & USDT simultaneously. Especially, BITHD is the world’s FIRST hardware wallet that supports multi-sig on ETH, EOS and USDT

Supported blockchain assets:

  • Bitcoins(BTC), Bitcoin cash(BCH) and Bitcoin SV(BSV).
  • Ethereal(ETH) and all ERC20 tokens.
  • EOS and all EOS based tokens.
  • USDT
  • Tron(TRX) and all TRC10/20 tokens
  • Litecoin(LTC)
  • Zcash(ZEC)
  • DASH
  • DOGE
  • More to come

Referring Links:

  1. Official Website: https://bithd.com
  2. Help Docs on BitHD
  3. Open source code
  4. Design Principles of BitHD Watch Edition and Card Edition
  5. A Few Key Points to Correctly Choose a Hardware Wallet
  6. Updates Archive on BitHD
On BITHD Watch 1:
  1. 比特派新品发布会召开 冷钱包与智能手表结合带来更多玩法https://www.jinse.com/bitcoin/123580.html
  2. 比特派钱包日本专场发布会圆满结束https://www.jinse.com/bitcoin/241951.html
  3. https://www.8btc.com/video/217836
  4. https://medium.com/@Bitpie/bithd-cold-wallet-de9216e9c934
  5. https://www.cybtc.com/article-3225-1.html

About us:

Bither Wallet
Bither is a bitcoin.org recommended open-sourced bitcoin wallet. Bither wallet provides highly safety wallet services with a lot of innovative industry-leading features such as HDM, x-random. Since 2013, Bither wallet has served more than 500 thousand global users with 0 incident.website: bither.net
Bitcointalk: Click
Bitpie Wallet
Bitpie is originated from Bither team, Bitpie team is made up of blockchain professionals and business experts from IT/ Financial industries around the world. Bitpie is an HD(Hierachical Deterministic) multi-blockchain wallet(over 30 blockchains including BTC/ETH/EOS/USDT etc.). Bitpie Team is devoted to providing safe assets management and DApps for users worldwide. website: bitpie.com Bitpie Features:
Instant Trade & Coin Swap: Fast, secure and easy way to own and trade your cryptocurrencies.
Financial Plan*: Users are able to deposit their assets into Bitpie and subscribe financial plan (daily, monthly and yearly) which will benefit them with promised interests.*
Dapps*: Integration of various of Dapps (games, decentralized exchanges and so on) on blockchain networks such as EOS, TRON, etc.*
Find us on:
Twitter Facebook Telegram Telegram Hong Kong Telegram Bitpie News

https://preview.redd.it/qg49ie2nmjs21.png?width=800&format=png&auto=webp&s=557aa7fa25fca1f901faa63aede9721fc59775f9
submitted by BITHD-ColdWallet to BitpieWallet [link] [comments]

Here are Security Tips to Generate Cold Storage Securely

Security is a spectrum.
The amount of effort, cost, and paranoia dedicated to generating cold storage should be proportional to the value being protected and its significance to the holder both now and potentially in the future.
To avoid loss of funds, here are some tips to generate cold storage as securely as possible:
submitted by cryptostorage to Bitcoin [link] [comments]

Signs Bitcoin is not going to reach mass adoption...

Bitcoin isn't going to go mainstream. No amount of Lightning Network (coming soon), SegWit (coming soon), bigger blocks (coming soon), or hard forks (never coming soon) is going to spur mass adoption.
Here are some tell-tale signs that Bitcoin is still on the fringe and will remain so.
I used Bitcoin for blank, give me karma.
Whether it's buying or selling something for Bitcoin, there are always those posts that seek confirmation from the echo-chamber that what they did is good for Bitcoin. You know what you don't see? Posts anywhere on reddit along the lines of "I bought this X for fiat from Amazon." You know why? No one cares if you use cash because it is mundane, widely available, and trivial to use. It is a tell-tale sign of mass adoption.
Bitcoin technology is going to revolutionize the BLANK INDUSTRY.
Capitalists are the kind who will find and exploit every advantage they can to gain a competitive edge. Be it technology, process, idea, or whatever if it can be turned into a money making machine. There have been estimates that Bitcoin has a $10 billion market cap, which is certainly impressive for something that came from nothing. But in the grand scheme of commercial trade it's a drop in the bucket. If Bitcoin were truly revolutionary, capitalists would have exploited it and actively contributed to its development already. Sure, there have been some minor localized successes, but not one truly revolutionary and successful billion dollar company has arisen. Not one Bitcoin company is a ubiquitous household name or brand. The ones everyone knows about in the Bitcoin space are irrevocably linked with fraud. Mt. Gox and Bitfinex for example.
...well. The most innovation in the Bitcoin space appears to be dark net markets and malware. Whether that's truly a welcome revolution is up for debate.
Bitcoin innovation is stagnant.
Other than slapping a miner on an already existing product, ahem 21 inc., what big innovation has there been in the Bitcoin space? The apps for buying and selling Bitcoin are all pretty much the same functionally. OpenBazaar has not heralded the end of online commerce as anticipated. It also continues to promise more features perpetually "coming soon" while the competition out-innovates them at the same time. Micro-tipping ChangeTip didn't really take off, and Steem or Yours isn't really a threat to any social network not focused around the idea. KimDotCom talks big, but he has yet to deliver.
u/changetip dose of reality
Bitcoin's fluctuating value makes it impossible for the average person calculate.
Notice that everything is still pegged to fiat in terms of valuation? Without using an internet device tell me how much $5 is worth in Bitcoin. Now decrease that by 7.23% because the BTC market dropped, again without the internet or a calculator. How much Bitcoin is that $0.99 coffee? What about this afternoon when Bitcoin is up 4.77%? What is your profit margin right now for being the seller? How about when you sold coffee for 12.19% earlier today.
Also, did you pay the right amount of penny shavings for your coffee transaction to go through? Yes? It may take up to 10 minutes to process. Maybe. Or not. We could have paid $0.99 in filthy fiat and been on our way already.
Widespread adoption isn't happening organically, or at all in most areas.
Outside of San Francisco and a few technically savvy urban enclaves where digital natives are on the cutting edge, there is no use case for Bitcoin in Kansas. Bitcoin has to rely on those who believe that it is better than fiat to spread the gospel of Satoshi (#NotACult). Until you don't have to have someone proselytize at length about Bitcoin's advantages over fiat, it isn't mainstream. How many posts have you come across where "I convinced Business Owner X to accept Bitcoin" only to check in later to find out they are no longer accepting it?
Speaking of cults...
Self-congratulatory posts patting the faithful on the back for their piety in printing out Bitcoin flyers or pasting stickers in public are frequent. Any time a Bitcoin logo is spotted in Mr. Robot, alongside the THOUSANDS of other symbols in it, the faithful are further convinced that widespread adoption is an inevitable reality. They're convinced viewers are keyed in to an insignificantly minor detail which will unravel the wisdom of the fiat destroyer Satoshi Nakamoto who will bring prosperity to all who read the hallowed white paper.
Also, deviation from the truth laid down in the whitepaper is heresy. #NotACult Which leads to all sorts of problems when the core developers, miners, or users want to change something for the improvement of Bitcoin. How many BIPs are actually implemented successfully without raising the ire of a vociferous userbase rabidly against change? (If you do know, please comment.)
Mass adoption would inevitably require regulation.
One of the functions of Bitcoin is to be a stateless, borderless, and censorship resistant currency. Does it accomplish that? Yes.
But if Bitcoin were to become widely adopted it would inevitably attract regulation. Uber is a great example of what happens when industry outpaces regulation. Uber drivers disrupted the taxi industry mainly because most places did not have regulations in place. Although providing an innovative service, it also led to insurance problems when drivers got into accidents, or health and safety concerns when drivers or riders get involved in an incident. Regulation is bringing the cavalier industry back into the realm of public safety and security.
Bitcoin may outpace regulation for a while, but mainstream adoption will inevitably require regulation at some point. How much of a percentage profit is legal when selling Bitcoin at an ATM? How do you classify gains or losses on taxes? What if I want to set up a retirement plan? What if the entity I store my Bitcoin savings with goes under? Those sorts of every day questions have legal ramifications that need to be parsed out for people to feel secure enough to adopt Bitcoin.
If you're screaming "STATIST SHILL" while reading this on a computer of some kind, remember that there are legal regulations insuring the device you're reading this on conforms to certain requirements.
Be your own bank is not a good thing for most people.
We hire people to be experts and professionals to do things we are not good at ourselves. You'd hire a lawyer to litigate on your behalf. You'd hire a plumber to fix your leaking pipes.
Most people are not good at being their own bank. Storing large amounts of cash in areas that are susceptible to theft is not a good idea. That's why people have banks. Do banks get robbed? Yes, but regulation insures that your deposits will be reimbursed. Can you be your own bank with Bitcoin? Yes. But you also assume all the risk, even the ones you are not cognizant of. bitcoin is no stranger to posts from users who lose their bitcoin with no means of recovery because they didn't fully anticipate the risks. SFYL.
But why would you want to go through all the hoops to be your own bank? You still need to convert that Bitcoin to fiat (or vice versa), get a loan for a car or home, or pay utility bills.
Irreversible transactions mean your money is gone.
Unless the person on the receiving end is feeling altruistic, those Bitcoin you sent to the wrong address or were "hacked" from the exchange you use are gone. How many people have been successful at recovering their lost Bitcoin through legal means? How many lawsuits have been successful at this?
::crickets::
The place where I store my money took 30% because they screwed up.
The ongoing BitFinex debacle is a prime example of why you should trust no one with your Bitcoin. Sure, they appeared legitimate. They were operating a successful exchange. Everything appeared to be in order and were highly recommended by most in the Bitcoin space. Until they got "hacked" and decided to distribute the "losses" among the users.
Most of those who lost Bitcoin in the hack are powerless to do anything. Some have turned to the authorities to recover their losses. Some are trying to mount a lawsuit. Some are going through the various stages of grief.
The inevitable "hack" that large Bitcoin entities experience is becoming a routine way for trusted innovators in the space to cash out safely with other people's savings. Mt. Gox, Cryptsy, and BitFinex are merely the largest skulls on a pile of bones of cryptocurrency heists. They were all trusted, until it became apparent that it was all a scam.
An industry where "trusted" actors can get away with theft is a barrier to widespread adoption.
Reddit is the primary communications platform where announcements occur.
If you've been burned by bitcoin or some company's support agents that didn't respond to your post, we welcome you with open arms.
Bitcoin is going to put an end to wars and government tyranny.
At what point in history has the use of currency determined whether or not a group, religious faction, or nation is going to wage hostilities against another? Or that adoption of a currency led to an outbreak of peace? It isn't going to happen.
Every now and then Greece, Venezuela, or (INSERT AFRICAN COUNTRY HERE) experience economic turmoil and it is viewed as an opportunity for Bitcoin adoption. No, it isn't even an opportunity. Because the people who use Bitcoin also have easy access to stable fiat currency through banks. They have the first world luxury of being able to convert fiat to Bitcoin relatively easily. (If jumping through several additional steps can be considered easy.) Has Bitcoin taken off anywhere with economic turmoil? Let's check the history books. No. Not one. Even marginal increases in adoption didn't occur.
I'm sure there are Captains of Industry who disagree with me for expressing these ideas. I'm sure there are also those who like me have been banned from bitcoin for pragmatic, practical, and reasonable insights. If you've wandered over here from bitcoin or btc or are u/americanpegasus looking to waste $50,000 of your precious time... welcome.
Gentlemen...
submitted by kenfagerdotcom to Buttcoin [link] [comments]

Secure paper wallet tutorial

This is my handout for paranoid people who want a way to store bitcoin safely. It requires a little work, but this is the method I use because it should be resistant to risks associated with:
  1. Bad random number generators
  2. Malicious or flawed software
  3. Hacked computers
If you want a method that is less secure but easier, skip to the bottom of this post.
The Secure Method
  1. Download bitaddress.org. (Try going to the website and pressing "ctrl+s")
  2. Put the bitaddress.org file on a computer with an operating system that has not interacted with the internet much or at all. The computer should not be hooked up to the internet when you do this. You could put the bitaddress file on a USB stick, and then turn off your computer, unplug the internet, and boot it up using a boot-from-CD copy of linux (Ubuntu or Mint for example). This prevents any mal-ware you may have accumulated from running and capturing your keystrokes. I use an old android smart phone that I have done a factory reset on. It has no sim-card and does not have the password to my home wifi. Also the phone wifi is turned off. If you are using a fresh operating system, and do not have a connection to the internet, then your private key will probably not escape the computer.
  3. Roll a die 62 times and write down the sequence of numbers. This gives you 2160 possible outcomes, which is the maximum that Bitcoin supports.
  4. Run bitaddress.org from your offline computer. Input the sequence of numbers from the die rolls into the "Brain Wallet" tab. By providing your own source of randomness, you do not have to worry that the random number generator used by your computer is too weak. I'm looking at you, NSA ಠ_ಠ
  5. Brain Wallet tab creates a private key and address.
  6. Write down the address and private key by hand or print them on a dumb printer. (Dumb printer means not the one at your office with the hard drive. Maybe not the 4 in 1 printer that scans and faxes and makes waffles.) If you hand copy them you may want to hand copy more than one format. (WIF and HEX). If you are crazy and are storing your life savings in Bitcoin, and you hand copy the private key, do a double-check by typing the private key back into the tool on the "Wallet Details" tab and confirm that it recreates the same public address.
  7. Load your paper wallet by sending your bitcoin to the public address. You can do this as many times as you like.
  8. You can view the current balance of your paper wallet by typing the public address into the search box at blockchain.info
  9. If you are using an old cell phone or tablet do a factory reset when you are finished so that the memory of the private keys is destroyed. If you are using a computer with a boot-from-CD copy of linux, I think you can just power down the computer and the private keys will be gone. (Maybe someone can confirm for me that the private keys would not be able to be cached by bitaddress?)
  10. To spend your paper wallet, you will need to either create an offline transaction, or import the private key into a hot wallet. Creating an offline transaction is dangerous if you don't know what you are doing. Importing to a client side wallet like Bitcoin-Qt, Electrum, MultiBit or Armory is a good idea. You can also import to an online wallet such as Blockchain.info or Coinbase.
Trusting bitaddress.org
The only thing you need bitaddress.org to do is to honestly convert the brainwallet passphrase into the corresponding private key and address. You can verify that it is doing this honestly by running several test passphrases through the copy of bitaddress that you plan on using, and several other brainwallet generators. For example, you could use the online version of bitaddress, and brainwallet and safepaperwallet and bitcoinpaperwallet. If you are fancy with the linux command line, you can also try "echo -n my_die_rolls | sha256sum". The linux operating system should reply with the same private key that bitaddress makes. This protects you from a malicious paper wallet generator.
Trusting your copy of bitaddress.org
Bitaddress publishes the sha1 hash of the bitaddress.org website at this location:
https://www.bitaddress.org/pgpsignedmsg.txt
The message is signed by the creator, pointbiz. I found his PGP fingerprint here:
https://github.com/pointbiz/bitaddress.org/issues/18
"527B 5C82 B1F6 B2DB 72A0 ECBF 8749 7B91 6397 4F5A"
With this fingerprint, you can authenticate the signed message, which gives you the hash of the current bitaddress.org file. Then you can hash your copy of the file and authenticate the file.
I do not have a way to authenticate the fingerprint itself, sorry. According to the website I linked to, git has cryptographic traceability that would enable a person to do some research and authenticate the fingerprint. If you want to go that far, knock yourself out. I think that the techniques described in this document do not really rely on bitaddress being un-corrupt. Anyway, how do we know pointbiz is a good guy? ;-)
There are a lot of skilled eyes watching bitaddress.org and the signed sha1 hash. To gain the most benefit from all of those eyes, it's probably worthwhile to check your copy by hashing it and comparing to the published hash.
"But we aren't supposed to use brainwallets"
You are not supposed to use brainwallets that have predictable passphrases. People think they are pretty clever about how they pick their passphrases, but a lot of bitcoins have been stolen because people tend to come up with similar ideas. If you let dice generate the passphrase, then it is totally random, and you just need to make sure to roll enough times.
How to avoid spending your life rolling dice
When I first started doing this, I rolled a die 62 times for each private key. This is not necessary. You can simply roll the die 62 times and keep the sequence of 62 numbers as a "seed". The first paper address you create would use "my die rolls-1" as the passphrase, the second would be "my die rolls-2" and so on. This is safe because SHA256 prevents any computable relationship between the resulting private key family.
Of course this has a certain bad security scenario -- if anyone obtains the seed they can reconstruct all of your paper wallets. So this is not for everyone! On the other hand, it also means that if you happen to lose one of your paper wallets, you could reconstruct it so long as you still had the seed.
One way to reduce this risk is to add an easy to remember password like this: "my die rolls-password-1".
If you prefer, you can use a technique called diceware to convert your die rolls to words that still contain the same quantity of entropy, but which could be easier to work with. I don't use diceware because it's another piece of software that I have to trust, and I'm just copy/pasting my high entropy seed, so I don't care about how ugly it is.
Why not input the dice as a Base 6 private key on the Wallet Details tab?
Two reasons. First of all, this option requires that you roll the die 99 times, but you do not get meaningful additional protection by rolling more than 62 times. Why roll more times if you don't have to? Second, I use the "high entropy seed" method to generate multiple private keys from the same die rolls. Using the Base 6 option would require rolling 99 times for every private key.
I'm a big nerd with exotic dice. How many times to roll?
Put this formula in Excel to get the number of times to roll: "=160*LOG(2,f)" where f = number of faces on the die. For example, you would roll a d16 40 times. By the way, somewhat unbelievably casino dice are more fair than ordinary dice
The "Change address" problem:
You should understand change addresses because some people have accidentally lost money by not understanding it.
Imagine your paper wallet is a 10 dollar bill. You use it to buy a candy bar. To do this you give the cashier the entire 10 dollar bill. They keep 1 dollar and give you 9 dollars back as change.
With Bitcoin, you have to explicitly say that you want 9 dollars back, and you have to provide an address where it should go to. If you just hand over the 10 dollar bill, and don't say you want 9 dollars back, then the miner who processes the transaction gives 1 dollar to the store and keeps the remainder themselves.
Wallet software like Bitcoin-Qt handles this automatically for you. They automatically make "change addresses" and they automatically construct transactions that make the change go to the change address.
There are three ways I know of that the change problem can bite you:
  1. You generate a raw transaction by hand, and screw up. If you are generating a transaction "by hand" with a raw transaction editor, you need to be extra careful that your outputs add up to the same number as your inputs. Otherwise, the very lucky miner who puts your transaction in a block will keep the difference.
  2. You import a paper wallet into a wallet software and spend part of it, and then think that the change is in the paper wallet. The change is not in the paper wallet. It is in a change address that the wallet software generated. That means that if you lose your wallet.dat file you will lose all the change. The paper wallet is empty.
  3. You import a paper wallet into a wallet software and spend part of it, and then think that the change is in the change address that the wallet software generated. If the transaction did not need to consume all of the "outputs" used to fund the paper wallet, then there could be some unspent outputs still located at the address of the paper wallet. If you destroyed the paper wallet, and destroyed the copy of the private key imported to the wallet software, then you could not access this money. (E.g. if you restored the software wallet from its seed, thinking all of the money was moved to the wallet-generated change addresses.)
For more on this, see here
The hot paper wallet problem
Your bitcoin in your paper wallet are secure, so long as the piece of paper is secure, until you go to spend it. When you spend it, you put the private key onto a computer that is connected to the internet. At this point you must regard your paper wallet address as hot because the computer you used may have been compromised. It now provides much less protection against theft of your coins. If you need the level of protection that a cold paper wallet provides, you need to create a new one and send your coins to it.
Destroying your paper wallet address
Do not destroy the only copy of a private key without verifying that there is no money at that address. Your client may have sent change to your paper wallet address without you realizing it. Your client may have not consumed all of the unspent outputs available at the paper wallet address. You can go to blockchain.info and type the public address into the search window to see the current balance. I don't bother destroying my used/empty paper wallet addresses. I just file them away.
Encrypting your private key
BIP 0038 describes a standardized way to encrypt your paper wallet private key. A normal paper wallet is vulnerable because if anyone sees the private key they can take the coins. The BIP38 protocol is even resistant to brute force attacks because it uses a memory intensive encryption algorithm called scrypt. If you want to encrypt your wallets using BIP38, I recommend that you use bitcoinpaperwallet because they will let you type in your own private key and will encrypt it for you. As with bitaddress, for high security you should only use a local copy of this website on a computer that will never get connected to the internet.
Splitting your private key
Another option for protecting the private key is to convert it into multiple fragments that must be brought together. This method allows you to store pieces of your key with separate people in separate locations. It can be set up so that you can reconstitute the private key when you have any 2 out of the 3 fragments. This technique is called Shamir's Secret Sharing. I have not tried this technique, but you may find it valuable. You could try using this website http://passguardian.com/ which will help you split up a key. As before, you should do this on an offline computer. Keep in mind if you use this service that you are trusting it to work properly. It would be good to find other independently created tools that could be used to validate the operation of passguardian. Personally, I would be nervous destroying the only copy of a private key and relying entirely on the fragments generated by the website.
Looks like Bitaddress has an implementation of Shamir's Secret Sharing now under the "Split Wallet" tab. However it would appear that you cannot provide your own key for this, so you would have to trust bitaddress.
Durable Media
Pay attention to the media you use to record your paper wallet. Some kinds of ink fade, some kinds of paper disintegrate. Moisture and heat are your enemies.
In addition to keeping copies of my paper wallet addresses I did the following:
  1. Order a set of numeric metal stamps. ($10)
  2. Buy a square galvanized steel outlet cover from the hardware store ($1)
  3. Buy a sledgehammer from the hardware store
  4. Write the die rolls on the steel plate using a sharpie
  5. Use the hammer to stamp the metal. Do all the 1's, then all the 2's etc. Please use eye protection, as metal stamp may emit sparks or fly unexpectedly across the garage. :-)
  6. Use nail polish remover to erase the sharpie
Electrum
If you trust electrum you might try running it on an offline computer, and having it generate a series of private keys from a seed. I don't have experience with this software, but it sounds like there are some slick possibilities there that could save you time if you are working with a lot of addresses.
Message to the downvoters
I would appreciate it if you would comment, so that I can learn from your opinion. Thanks!
The Easy Method
This method is probably suitable for small quantities of bitcoin. I would not trust it for life-altering sums of money.
  1. Download the bitaddress.org website to your hard drive.
  2. Close your browser
  3. Disconnect from the internet
  4. Open the bitaddress.org website from your hard drive.
  5. Print a paper wallet on your printer
  6. Close your browser
submitted by moral_agent to BitcoinWallet [link] [comments]

Quiz time: Name a bitcoin brokerage that will never have a headline ending with "... unable to repay customers following alleged heist"?

Answer: Novauri.
Sign up for our closed US beta in Q2 2015 and we will waive your purchase and sale fees. Forever.
Novauri is a bitcoin purchase and sale service going into a closed US beta in Q2 of this year. What's different about Novauri?
When you create your account with Novauri and generate a wallet, we never, ever have access to your private keys. This isn't an option, it's the design of the service. We even let you add your own address (such as a paper or hardware wallet), and we'll send bitcoin you buy directly to it.
So what? Why should you care?
This won't happen to you at Novauri.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or this.
Or dozens of others.
Novauri is designed to work safely with bitcoin and let you keep control of your money. We told you so then, and we are telling you again now. Services that pool any customer bitcoin are not safe, regardless of their level of security. Insiders are humans, and some of them steal and most of them can be manipulated.
We're clear to operate in the majority of US states for our online service, and we are working on the rest aggressively. Keeping a bank is always hard for a brokerage without powerful connections, but we are confident we will still launch in Q2 as promised.
Please sign up for our service and give us your support.
Thank you!
submitted by MrMadden to Bitcoin [link] [comments]

Qtum Co Founder Patrick Dai | "3 o'clock no sleep blockchain" depth of sharing

In the industry known as the "first block of the block community," the three o'clock sleepless block chain group, brought together the heavyweight figures in the domestic block chain industry. On the second day of the New Year, starting at 11 am, the group members with a total market capitalization of about 1 trillion yuan, as the traditional world still rejoice in the Great Reign, Technology, valuation, investment and future, the main questions raised in the group were carefully answered and shared. The full text is as follows:
 
Q1: Stellar recently fierce in Silicon Valley, do you think the threat to eth big?
Patrick Dai: ETH has become an ecosystem where the greatest risk comes from the risks inherent in one's own ecology but less from outside risks unless there is a tenfold increase in Ethereum's advanced ideas and technologies, giving it an opportunity to replace Ethereum , Otherwise it is a big threat to the nature, but not competing with the front of Ethereum, in other areas (outside the ICO) force, there are still a lot of business and investment opportunities.
 
Q2: What do you think about the millions of TPS that eos claims?
Patrick Dai: Blockchain is not born for the TPS, if we need faster TPS, the existing banking system and Paypal and WeChat payment, is a better choice. In addition to the degree of decentralization and TPS is basically an irreconcilable conflict, many of the replacement of TPS is to sacrifice network to the degree of centralization to obtain, I personally think, simply in pursuit of higher TPS, but it makes no sense , Especially if the network after only a few dozen large nodes (this is not the early stages of the bank?), Then the high TPS, very often not significant.
 
TPS makes sense for specific things, but requires a compromise with the philosophy behind cryptocurrencies. Because traditional IT technology has been studied for distributed systems for decades, all algorithms based on BFT and various variants can achieve very high TPS, but their degree of centralization is relatively high. The average person in the network is Can not get the right of reciprocity If you can not participate in the supervision and verification of the network, in fact, the use of existing financial services are more than enough.
 
Question 3: Qtum Chain initial design of the core of what is the point? Qtum how to build their own ecology? Qtum globalization is good, even South Koreans like Qtum,landing strategies and methods in different states around the world how to look?**
 
Patrick Dai:
The core of Qtum Blockchain design:
  1. Security, security is the number one priority for cryptocurrency systems, with no foundation for security and sophisticated software as a back-up.
  2. Qtum chain is basically compatible with bitcoin's UTXO and all BIPs, and is also compatible with EVM and EVM-based ecology.
  3. Flexible, the biggest innovation in Qtum is based on bitcoin transaction model, which supports the implementation of smart contract, so that Ethereum's virtual machine can run on the bitcoin network. In addition, the current Qtum network is already in the POS phase, and around 3000 A full node. POS is more friendly to business applications. Through technical support, development tools, Community Roadshow investment hatching in the constant construction of the ecology of the Qtum Blockchain. The more important thing is landing on the local community developers and local project developers to achieve localization, the international team will also be a lot of help.
 
Question 4: Decentralized trading system, the future direction of development is?
 
Patrick Dai: to the center of the trading system of my research is not much to talk about a few specific cases, the earliest to the center of the trading system is based on the colorcoin mastercoin and counterparty transactions colorcoin on the back appeared on NXT and the BTS Decentralized trading systems, followed by the emergence of etherdelta (based on the smart contract trading system), from the experience above, several decentralized trading system experience, similar to the centralized trading system of high-frequency mobile Sex, a great gap. About decentralized trading system in the order matching and order synchronization, this can find some developers in this area, consult.
 
Q5: ipfs really can really decentralized web and app? Not a simple one? What is the point of going to a centralized app?
Patrick Dai: IPFS specific technology to achieve no in-depth study, but read the design concept, the project itself also mentioned for several years, to the center of the web and app should be serverless service to developers, as long as the interface , Regardless of who behind the service to provide. Is not a simple token, depending on the ecology behind it, bitcoin is essentially just a piece of data in a bitcoin network, and decentralized apps make sense, but at the moment many of Dapp's really just an app + blockchain as a settlement layer .
However, the future of blockchain and Dapp's future will transcend the existence of cryptocurrency and will become a social infrastructure: trust. Dapp has a lot of good direction: the game (props channels), content (movie music text), Internet of things, ID and so on.
 
Q6: Everyone has been saying that it is necessary to decentralize and intensify the high level of Dapp's certain degree of contradictions. However, we can not just stay at the stage where btc is used as a currency and eth only serves as a currency to be raised. Developing Dapps to address user needs, that is, the need to strike a balance between a purely decentralized utopia and user application world, Dpos is a solution for now, what do you think? How to grasp the degree of the two?
Patrick Dai: Indeed, many Dapp is a pseudo-concept, but cryptocurrency itself has begun to penetrate into various places as the first successful application based on blockchain technology. My consideration for the future blockchain system is that there is enough decentralization at the bottom and the application layer can be neutralized. We need a trustless bottom plus an application layer that requires trust, on the one hand, a trustless premium (trust cost Lowest) + centralized premium (centralized), Dapp still has a lot to see in the future, such as gaming (virtual assets and channel changes) digital content (movie music) Internet of Things security and management of digital identities Areas of Pratt & Whitney Finance (Insurance-autonomous finance and micro-financial services, etc.).
At present, many Dapp just use the characteristics of a blockchain, that is, the issuance and clearing of tokens. The blockchain has many other features that need to be discovered and discovered.
 
Q7: How do you think about the feasibility and security of cross-link technology? At present, you are optimistic about this project. In addition, how to ensure the trust and reliability of the link in the chain?
Patrick Dai: I personally feel that the current cross-link area is still in its early stages, both in bitcoin and Ethereum network have limited processing power, and the process of continuous evolution, I personally feel that this one cross-chain is not yet mature enough, and from the solution Just need to point out whether cross-link at least at this stage is not just a need.
On the Oracle side, this is a need, especially in the popularization of smart contracts, we need the blockchain can access external systems, in a sense, the current blockchain is an algorithm-driven self-consistent Closed system, the logic is pre-set. Through Oracle we can introduce external data sources to trigger the execution of the contract. There are many directions on how to solve the problem of credible data sources.
One is a centralized approach, such as providing data sources by auditing companies and government departments. Another way to go to the center is to introduce games and mortgages. Punish fraud and reward honest data sources and establish a preferred positive feedback mechanism. Of course, there are many other solutions, there is a lot of community research, Microsoft also has a cryptolet project.
 
Q8: Ask a funny, 10 times eth, I have been curious about this issue, high-dimensional playing low-dimensional, non-dimensional entanglement. You must have thought about this 10 times the problem or possible direction method, want to hear you talk about the possibility of 10 times the direction of eth?
Patrick Dai: 10 times ETH advanced concepts and technology iteration, ETH basically invest this thing is done through the ICO done the ultimate, 15 seconds to complete the investment process (DD TS Token release). It takes a few months, compared to the traditional melting of an angel, which is a difference of 15 seconds vs 3 months. So somehow, ETH becomes the largest investment and financing platform in the world. This is also the largest application of Ethereum, but the application of other smart contracts but did not develop.
 
From the cash point of view there are several directions:
  1. distributed governance (refer to bitcoin 1M to 2M process and DAO processing);
  2. system of self-evolution and evolution;
  3. ease of use 10 times the increase;
 
From a technical point of view:
  1. scalability (full node size participation threshold TPS reciprocal rights);
  2. privacy and application independence and loose coupling (refer to Parity theft);
  3. Better flexibility (more types of virtual machines and a wider range of smart contract languages);
  4. network layering and partitioning and data compression;
  5. new consensus mechanisms (often requiring years of testing and practice) and more.
 
Q9: On the current blockchain + distributed computing issues, I think in the future if the dapp market can really make it indispensable based on the blockchain program to solve the calculation, storage, node acceleration and other issues. Currently I see several projects on distributed computing are based on the construction of Ethereum, are worrying about the performance, how do you think?
Patrick Dai: Distributed Computing I did not study much, but its initial project should come from MaidSafe (https://maidsafe.net/), a nearly 10-year project, essentially Proof of Resource, and many others. The type of computation is actually not very suitable for distributed processing, requiring serial processing of data that is essentially not accelerated through distributed computing, and distributed computing may be able to handle similar game rendering and image rendering needs, but I do not know How big is a market?
In addition, in distributed computing, it is also a problem how to use a common programming language to describe the computing task to be calculated and submit it accurately to the computing node. This one can consult the head of distributed computing projects.
 
Q10: Analysis of the following characteristics and advantages and disadvantages of the underlying chain: BTC / QTUM / ETH / EOS / NEO / ELASTOS?
 
Q11: At present more discussion is the public chain and the basic agreement, the application of technology in the future how to develop, what application scenarios faster landing?
Patrick Dai: The current blockchain technology is still in its early stages of evolution, standing in the Internet era 20 years ago, when we can hardly imagine today can be called a mobile phone uber, the development of technology to give everyone a more rich diversity The possibility is the future.
From an application perspective, the blockchain industry is indeed in the early stages of its application. Cryptocurrency is relative to the blockchain, similar to Email versus Internet, but the development behind the Internet goes far beyond emailing for information exchange, Then the future development of the blockchain will certainly not stop at cryptocurrencies born for value exchange.
Cryptocurrency is just the beginning. From a scenario perspective, the biggest feature of blockchain technology is that it guarantees a trustless platform through a variety of technologies, a trust-free platform that reduces the cost of all business transactions.
 
Q12: First ask yourself a few questions: blockchain where the biggest investment opportunities?
Patrick Dai: Based on the changes and disruptiveness brought by cryptocurrency, its wealth is created faster than the industrial revolution and the information revolution. From an investment point of view, I personally feel that there are several good directions:
  1. Encrypted currency (cryptocurrency and token) in the underlying publicchain, which basically became the industry's first token-based blockchain technology with a close combination of blockchain
  2. Technologies and specific application scenarios (the industry is in its infancy)
  3. Encryption Asset Services Portal (Wallet Exchange IM)
  4. Breaking Down Scenarios Across Industries (Games, Entertainment, IoT, ID, Healthcare, Supply Chain)
  5. Organizational Change Research, Economics, Think Tanks, Deep Media.
 
Q13: Is cryptocurrency popular at large scale?
Patrick Dai: the development of technology with jumping, but difficult to retract, with the car, the car will never disappear, although the carriage also continued to exist for hundreds of years. The advent of cryptocurrency is not a coincidence, but is accompanied by the maturity of various internet infrastructures and the enlightenment of Cyber ​​punk movement concept. It belongs to the fusion of technology and thought, not just to technological innovation.
Personally, I think the cryptocurrency is unlikely to disappear, the widespread adoption of cryptocurrency depends on the applicability of the cryptocurrency system, including what rigid demands are being addressed, and for the moment, the greatest use is to provide people around the world an option: a very fluid Transparent, credible, secure global assets.
 
Q14: How to build a valuation model of blockchain platform?
Patrick Dai: I have sent an article before. At present, this is a big problem in the industry. We do not have a set of valuation system to realize early warning and assessment of risks. What is the valuation of a project? Before writing something for your reference. http://www.gongxiangcj.com/posts/3895 "The number of nodes and cryptocurrency valuation model."
 
Q15: Who is Nakamoto?
Patrick Dai: From what I learned, Nakamoto was a hardworking man with idealistic feelings. It should be done independently by one person. There are many anonymous tech bucks in IRC channel in 2011 and 2012, on which you can see Nakamoto's figure. In addition to the birth of BTC, there is also some relationship with a Chinese Wei Dai.
Wei Dai, who wrote Bmoney's paper before, Zhong Zhongcong and Wei Dai also had some emails, and mentioned to Wei Dai that he has implemented Bmoney's part of cryptoCurrency, but in the second part of Bmoney there is actually a tentative idea about the contract. We can refer to Wei Dai's thesis at http://www.weidai.com/bmoney.txt and Qtum's idea Wei Dai has had some simple email exchanges, but Wei Dai's interest is no longer in the circle of cryptocurrencies.
 
Q16: In all the coins, which one will live the longest?
Patrick Dai: simply look at cryptocurrencies, BTC completed a historic jump, but also a breakthrough from 0 to 1, followed by many cryptocurrencies are 1 to 1.1 and 1.1 to 1.2 changes, more than one billion US dollars in the amount of encrypted currency thoroughly It is unlikely that it will disappear because of the drive and governance of the community that the community will uphold even if the developer does not maintain it. However, there are indeed many crypto-currencies that will be eliminated and 95% of the projects should be gone after three years.
 
Q17: 18 years blockchain private market analysis, what kind of industry is better?
Patrick Dai: Currently the industry needs to find other applications in addition to the cryptocurrency killer app, from the technical development point of view, I personally trust the concept of trustless Platform constantly landing and provide the underlying technology research and development and application scenarios.
 
Q18: Which industry has the largest total of all the industries in the blockchain?
Patrick Dai: Cryptocurrency itself seems to be the biggest at this moment, and others feel that there are many opportunities for the gaming industry and for digital content (video and audio) and for financial services and the Internet of Things.
 
Q19: Want to hear the competition between the public chain and the public relations and cooperation, how to comment on the big brother?
Patrick Dai: last year's growth in the industry, in essence, we are still eating BTC created by the combination of technology and ideas, creating a human species in the history of a new species premium, BTC has its historic significance. The groundbreaking idea it brought, gradually attracted the public's attention, but from a technical point of view, what BTC can do is limited, but it does solve its positioning.
Technology is not good or bad, mainly to meet the needs. BTC technology to meet its point-to-point electronic cash system positioning and needs. We do not expect to build infinite applications in the BTC above, this is impossible. The public chain is indeed an open experimental field and a community-driven evolutionary community of interests. Its vitality is also very strong. However, at present, the problem is that we really need technological progress to further promote the scene. If only from the perspective of cryptocurrency, BTC LTC DogeCoin for a user, in essence, is the same experience, and the experience of Ethereum is not much different. The difference is, BTC and the US dollar experience is very different.
I personally feel that the blockchain industry is an ecology. Whether it is serving one of the areas in the blockchain and ultimately building a blockchain together, it is essentially a collaborative evolution that builds a stronger consensus mechanism. Diversity provides the basis for the choice of consensus, and if there is only one technical direction, then the evolution of technology has become slow. In addition this is only a technical factor, but the blockchain system is not only as simple as technology, there is community community of interests behind.
 
Q20: What dimensions are the most important when evaluating the value of a blockchain project? What factors can be rejected one vote?
The Beginning: The Essential Elements of the Encrypted Currency Valuation Model (I send some thoughts that I wrote before) As the first truly successful decentralized e-cash system, bitcoin became the anchor of value in the industry and By far the most centralized network, Bitcoin is designed as an electronic currency that is secure, secure, and has a very low threshold of participation in the early stages.
It is early everyone can participate, and become a full node without any threshold, anyone can download bitcoin client, early mining in his computer, so in fact the realization of the low threshold of the financial services system, everyone With the freedom to join and exit, bitcoin clients have been rapidly evolving early, and if the client is a game, the Bitcoin client's distribution is a borderless game.
In P2P network, a very important core element is full node. In a P2P network, the total number of nodes basically determines the technical value of this network.
 
Why do you say that?
In the traditional database domain and distributed system, we study the consistency of the data, there are already many, all major companies have their own solutions, but few companies have tens of thousands of distributed system distributed nodes, So most of the research results are more suitable for some enterprises to solve the solution. For example, the Paxos algorithm proposed by Leslie Lamport in 1990 can achieve highly fault-tolerant requirements based on message passing. The latter algorithm is also widely used in google Chubby lock, and Chubby lock behind is widely used in Google's core design Bigtable, bigtable is to support a lot of Google's core business.
 
The realization of Bitcoin network is a fusion of technology and humanity.
In a traditional distributed network, in a large company's network, each node in many cases is due to network reasons, dropping or sending wrong messages, instead of deliberately forging information for the sake of profit.
 
The realization of bitcoin is facing a more complicated network environment, not only a more complex network environment, but also a more complicated game of humanity. In the traditional distributed network, no one will consider the introduction of incentives to allow nodes to maintain data consistency, Nakamoto was the first person to do so, and through a resource that can not be monopolized (hash function computing power ) To ensure the effective allocation of accounting rights to avoid single-point ddos ​​attacks on specific accounting nodes.
 
Bitcoin network to each distributed node in the network, the consistency of each time slice into a time interval consistency, if you look at the global currency bitcoin network, you will find each time slice and time, different The miners in calculating the different chains, in fact, is a bifurcated network, but in a 10-minute time interval, the probability that the data is modified is a Poisson distribution. The probability of the attacker's success is q, The growth of the block is exponentially declining. When the blockchain has six acknowledgments, the attacker's probability of success tends to be essentially zero.
 
If you are the full node in a Bitcoin network, then you have the largest and equal rights to the network, and you no longer have to trust third parties or give up your rights to others. At present, many other cryptocurrencies tend to be centralized. Many consensus mechanisms realize a fast transaction processing speed. In essence, they deprive participants of their equal rights and allow the network to return to a centralized network. But if we really need to hand over our rights in the blockchain network, banks may be a better choice than a lot of centralized blockchain systems.
 
At present there are about 13,000 full nodes in the bitcoin network. Due to the characteristics of the p2p network, it is very difficult to accurately count the total number of nodes in the network. These 13000 full nodes bear the accounting of the distribution and transaction of currency, and are also bits The foundation of the currency. Bitcoin is definitely a more distributed clearing network than Alipay, and unlike Alipay, Alipay is just a payment instrument that serves the renminbi system. Bitcoin's global clearing network also has its own currency system --- Bitcoin Compared to a bank, opening a bitcoin "dot" actually requires only one computer to run a full node. Therefore, the final service boundary of Bitcoin is borderless, and the service objects of banks and Alipay have boundaries.
 
Bitcoin achieved a breakthrough from 0 to 1 and completed the carriage-to-car transition (steam engine). In fact, crypto-currencies appeared behind us. In fact, we made some improvements on the basis of Nakamoto. Indeed, we have not Take the carriage again, essentially all the cryptocurrencies are in the car.
 
If we look at bitcoin from a software science perspective rather than a currency perspective, the various cryptocurrencies that appear later are essentially improvements and enhancements based on bitcoin's open-source software, which many teams make And upgrading, and not much difference, whether it is to change a mining algorithm, or add some total, a lot of bifurcation is done from 1 to 1.001 experiment, bitcoin from paper currency to electronic currency from 0 To 1 transition and fission.
 
Today, Bitcoin has the strongest network effect and the loudest brand effect. Although the technology iteration is very, very slow, some progress has been made one after another, but it can not be surpassed from the aspect of things development. , But no matter whether it will be surpassed, the emergence of bitcoin has its historical inevitability and it will certainly accomplish its historic mission. As the world's largest distributed clearing network and built-in monetary system in the future, as well as the anchor of the value in the parallel financial world in the blockchain and the boost of crazy humanity, we predict where its future highs will be Speaking of other factors aside, cryptocurrency has opened up a new era in which its market value should surpass that of the previous wave of the Internet.
 
Question 21: Blockchain whether the future is required to apply for a license to do?
Patrick Dai: From the future development of cryptocurrency, this is an inevitable.
 
Question 22: The future of blockchain in the IP field?
Patrick Dai: This still need to solve the chain and chain problems, as well as integration with the existing legal system. But purely virtual assets may not be needed, such as audio and video saved in the art and electronic formats of game props and electronic designs. But no matter what kind of industry, we have to think about, in addition to the token premium liquidity brought us by the blockchain, the blockchain really helped solve what problems?
 
Q23: Now the real consumption of blockchain project is not much, why do not wait for the project landing, re-vote? Tencent like buying now is not too late. Estimated seed round billion reasonable?
Patrick Dai: revolutionary ideas and new technology has brought endless imagination mixed with human speculation and greed.
 
Q24: Want to know how to treat EOS Q1 beta?
Patrick Dai: the specific progress did not pay attention to too many details, each project has its own position, as long as the solution to a certain area or the general needs, I personally feel that are very valuable. But we also look at the duration of the project is also to our own positioning, if the measurement of time is one day, it is trader, if it is a month, it is a short-term speculators, if it is one year, in the block chain industry is long-term investors If it is three to five years or ten years, it's the value discoverer and the leader in technological change.
 
Q25: What kind of impact can blockchain have on the economic vitality of the third and fourth tier cities today? When will have an impact?
Patrick Dai: I do not know this.
 
 
Credit.Wang Jiehui
submitted by thisthingismud to Qtum [link] [comments]

Here are Security Tips to Generate Cold Storage Securely

Security is a spectrum.
The amount of effort, cost, and paranoia dedicated to generating cold storage should be proportional to the value being protected and its significance to the holder both now and in the future.
Here are some tips to generate cold storage as securely as possible:
submitted by cryptostorage to btc [link] [comments]

Bitcoin: White paper, código da Bitcoin Core e BIPs Bitcoin PwC, Drivechains BIPs, Bitcoin's Journey, Tether story? - Off Chain Daily 2017.12.02 Bitcoin Q&A: BitPay and BIP-70 controversy BIPS - YouTube COBO Tablet for Backing up Mnemonic Seed Phrases for Bitcoin Wallets

As the name seems to clearly suggest, a Bitcoin Improvement Proposal (BIP) is a standard that has been devised to help in the alteration of BTCs core protocol. However, in a few notable cases BIPs have even served as a source for crucial information for the Bitcoin community at large. Due to the anonymous nature of bitcoins, such thefts are all but impossible to track. While the transaction itself can be seen publically - here is the 1,295 bitcoin theft from Bips - the identity ... As the name seems to clearly suggest, a Bitcoin Improvement Proposal (BIP) is a standard that has been devised to help in the alteration of BTCs core protocol. However, in a few notable cases BIPs have even served as a source for crucial information for the Bitcoin community at large. From a more... Bitcoin heists. Two significant thefts of bitcoins have been reported in the last month.A few weeks ago, outputs.io reportedly lost 4100 bitcoins to a hack, and today Bitcoin Internet Payment System, or BIPS, reported their networks had been compromised and 1295 bitcoins stolen. In Denmark, a Bitcoin payment processor, BIPS, had its systems breached and 1,295BTC, worth around $1m at the time, were stolen. Most of these belonged to the firm itself, rather than its customers. The attack started with a Distributed Denial of Service (DDoS) attack followed by hackers breaking into the company's networks.

[index] [2426] [14102] [6521] [14059] [1841] [10463] [16976] [34864] [24538] [4601]

Bitcoin: White paper, código da Bitcoin Core e BIPs

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. More Tether, Bitcoin Platinum, Bitcoin Uranium and Super Bitcoin - Off Chain Daily 2017.12.01 - Duration: 34:04. Off Chain with Jimmy Song 5,770 views AJ Towns, bitcoin core contributor @ Xapo joins me to talk about his recent work advancing the Schnorr, Taproot, and Tapscript BIPs. We talk about: What are Schnorr signatures? What is MuSig? Bitcoin is a new technology that functions as a digital currency. It is a peer-based, decentralized way to hold, store, send, and receive value. It does this by maintaining a cryptographic ... Fala galera! Hoje o vídeo é pra mostrar como funciona por dentro do projeto da Bitcoin e de onde surgem as ideias de melhorias no protocolo! **comentei no meio sobre a novela do replay ...

#