Bitcoin: Pariser Street-Artist versteckte ... - DER STANDARD

Crowdfunding for the "Bitcoin Box" is now live - a Raspberry Pi-based point of sale terminal combining NFC, (optional) offline payments and a QR code display. I hope I can get your support to release open source software, hardware instructions and help with standardization work!

submitted by jav_rddt to Bitcoin [link] [comments]

Samourai Wallet doesn't work with BitPay stores because the author has personal issues with the new QR code standard. /r/Bitcoin

Samourai Wallet doesn't work with BitPay stores because the author has personal issues with the new QR code standard. /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Crowdfunding for the "Bitcoin Box" is now live - a Raspberry Pi-based point of sale terminal combining NFC, (optional) offline payments and a QR code display. I hope I can get your support to release open source software, hardware instructions and help with standardization work!

submitted by jav_rddt to LighthouseProjects [link] [comments]

What is the standard text format for Bitcoin QR codes?

Should the decoded text just be the address? Or should it read: "bit coin:XXXXXXXXX"
submitted by charlesfries to Bitcoin [link] [comments]

Crowdfunding for the "Bitcoin Box" is now live - a Raspberry Pi-based point of sale terminal combining NFC, (optional) offline payments and a QR code display. I hope I can get your support to release open source software, hardware instructions and help with standardization work!

submitted by moon_drone to BetterBitcoin [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Had some thoughts on economics.

This is how I've been doing things in my Digital Perdition chronicle / narrative for Shadowrun for years. If this is useful, feel free to steal it.
I assume this probably isn't a new idea, but in my world, Nuyen is a form of cryptocurrency, like bitcoin or ethereum. It's also a "smart" currency, in that it can autonomously do things, all by itself. Any "nuyen app" on any comlink can, with a very simple user-facing interface, create things like escrows, trusts, provisional holdings, task verified transactions, etc. As long as the system can autonomously verify the information some how in the outside world, it can interact with it. (This also means the system is somewhat fallible and can be hacked / spoofed / fooled, which can lead to interesting emergent narratives / plots all on its own).
The fact that it's a cryptocurrency also informs the logic of what happens if Nuyen is copied. Ordinarily, this doesn't happen, and "naked nuyen" (nucoin outside of a wallet app or not encrypted on a credstick) is very suspicious, and if you're going to accept it, you need to be able to verrify it in real time, like right now, and transfer it to your account before you leave this dark alley / a abandoned warehouse transaction, or not accept it at all if you don't have signal. But if you do some how manage to clone some Nuyen, then just like crypto, and there's two of the exact same nucoin, then it's whoever syncs it to their account first. The other is considered the forgery. So that can create a "race against the clock" scenario if two opposing forces have the bag, the same bag, and need to get back to civilization before the other guy does. (This might not even come up in your games, but I play in a lot of areas like, in the middle of the ocean, pirates and atolls, as well as extremely rural northern Canada, South American jungles, and sub-Saharian Africa, exploring ancient blood mage / cultist desert ruins, etc, so often, "spotty signal" is an environmental hurdle / plot point.)
We also have "credcoins" in addition to regular old credsticks.
A "credcoin" is basically like an SD card, but with a poker-chip style plastic housing around it, to make it more handleable. The chip holds the actual encrypted nucoin (like a credstick) so they're not naked nuyen (see above), but they've also got an optical code, like a QR code, printed on them. They can be used in vending machines in 3rd world areas where signal might be spotty, or traded in physical transactions.
The way they work, is that we've written into the narrative that a certain block of numbers in the "nuyen hash" of each nucoin, maybe like the last five digits or something, who knows, but that there's a world wide industry standard number to indicate that these nuyen are dedicated for physical use. Sort of like how some IP addresses are reserved for localhost or LAN. If any system, any wallet app, sees these digits, it wont let them be "deposited". Only a physical bank can do it. This prevents someone from just scanning a credcoin, depositing the nuyen, and now the coins still look valid, but are useless. If you wanted to "deposit" them, you'd take them to a bank, they would scan them and verify, add them to your account, and remove those coins from circulation immediately by physically destroying them (or feeding them into a hopper to be able to 3d print new ones). They'd also charge you a fee for the overhead of the cost of actually producing currency, sort of like those CoinStar machines at Walmart that charge you a fee for counting all your change.
Speaking of counting change... That there's an optical code on credcoins makes that easy, too. Anyone with AR (augmented reality -- so basically, anyone, even if it's only through a hand held comlink screen, but usually AR contact lenses, glasses, goggles, or cybereyes) can just look at a credcoin and immediately know how much it is. You can also dump them out on the table, stand back so you get them all in frame, and just see a total for how much the value of all of them are. Each credcoin already has an ARO, but if there's a shit load of them together in close proximity, the AROs just merge together into a single one so as not to be "spammy". If you want to block the AROs, you can store your credcoins in signal blocking bags, containers, or metal coin rolls. Credcoins are also slightly different sizes and colors to tell the denomination at a glance, as well.
Anyway, I hope some of those ideas are useful for your games. :)
submitted by Cronyx to Shadowrun [link] [comments]

IOTA URI scheme and metadata exchange format

The QR code in the Trinity wallet contains a string of 81 characters indicating an address. Only to people familiar to IOTA, this has a meaning and even then, no one will quickly recognize the exact length of 81 characters.
Other information in QR codes contains a URI, like a web URL, mailto, contact data in VCF, etc. Any QR code scanner will directly know what to do with that information. Even Bitcoin has a URI: https://en.bitcoin.it/wiki/BIP_0021
I think that IOTA could also benefit from having a proper URI scheme, like:
iota://pay/address/
?tag=,amount=
iota://pay/use..
iota://mam/
/read
iota://mam/
/post?message=
iota://listen/

Items in stores could then be provided with tags for automatic payment or reading of a URL with information about the authenticity.
Applications in the IOTA ecosystem can then work seamlessly together, the step to introducing IOTA can be transparent for most users and services can be built on top of IOTA more easily.
The next step would then of course be an exchange format, where distributed wallets can communicate with each other, contact data that can be exchanged over the Tangle, etc.
I think the first step to this would be a clean URI scheme, but I haven't found anything and seeing that the Trinity wallet does not even include this, I doubt that this idea was considered before. I also do not think that the community can define a good scheme, as only the IF knows what's in the pipeline and are at the forefront of standardization.
Is anyone aware of efforts in this direction or reasons why this does not seem to have been done yet?
submitted by stephanahpets to Iota [link] [comments]

Nano Buying Report Using Cash App and Atomic Wallet - USA Resident

Another Redditor helped me out by posting their experience in buying Nano some weeks ago. Just data to help potential buyers out there to get the most bang for their buck. So I figured I'd contribute my experience as well. Here is my recent experiment and findings:
Time: May 26 Approx. 11PM Central Time
Fiat Purchase: $1000 of BTC with Cash App Result: 0.1111 Bitcoin
Sidenote: Had I done this purchase in Coinbase Pro, I'd have snagged 0.1120 Bitcoin. I calculate that as a 0.8% difference. So while Cash App is easier, Coinbase Pro is more frugal.
I sent the funds from Cash App to Atomic Wallet. Easy to do with the QR code on my computer screen. Total time to deposit $1,000 rom my bank account to Cash App, purchase the Bitcoin, and then see it appear in my Atomic Wallet: Three minutes.
So that was super fast (by Bitcoin standards) and easy.
Next I used Atomic Wallet to exchange the BTC for Nano.
Exchange result: 1074 Nano
At the same moment I looked on Brainblocks, and their offer was 964 Nano for the same amount of BTC.
That's 100 more Nano by using Atomic Wallet!
But the exchange was slowwww. It took more than an hour to confirm the initial Bitcoin transaction and I was using the default network fees in Atomic Wallet (not even sure if I can adjust it). Anyway, I stopped watching after an hour and at an hour and forty minutes I looked and the transaction was confirmed.
TLDR; As a fiat on-ramp to BTC I used Cash app. It was super easy but Coinbase Pro has better rates. Then I used Atomic Wallet to exchange BTC for Nano which gave me about 10% more Nano than had I done it through Brainblocks, but it was quite a bit slower to process.
submitted by DayVCrockett to nanocurrency [link] [comments]

How to Cold Store Your Cryptocurrency for Safekeeping

According to CipherTrace (which specializes in litigation tools and services for cryptographic markets), between 2018 and 2019, the amount of theft from cryptographic wallets exceeds $2 billion. Thefts and break-ins are caused by a variety of reasons: simple incompetence in cryptographic storage, as well as by companies that provide storage services. It is not unusual for holders of crypto currency to lose access to their wallets by themselves, one of the last known cases occurred in Ireland: ,57 million dollars couldn’t be confiscated from a detained drug dealer, which were stored in bitcoins. The problem was that the wallets keys were lost.
The most secure way is a cold storage — all account data and private keys are kept offline and all transactions are manual. This storage method is great because it is fully protected from hacking and interception of data, but it is not suitable for those who make daily transfers of cryptocurrency, it is simply inconvenient.
If you compare “cold and hot” wallets, you can give a simple example: A hot wallet can be compared to a wallet that can be lost and stolen. But you can always access your funds. A cold wallet is safe, and access to it is not permanent. You can also take or put money, but it will require a special code.
In this article we will tell you about the most popular types of cold wallets and we will analyze their pros and cons.

Types of cold wallets

All cold wallets have one common thing — the data is stored offline. However, there are several types of cold wallets, which differ in the degree of protection, physical embodiment and cost of the wallet.

Desktop wallet

Desktop wallets are also known for a high level of protection, in addition to the ability to store crypto currency offline. There are so-called “light” wallets weighing less than 1 gb, and “heavy” wallets weighing more than 1 gb. Two of the desktop wallets can be distinguished:

Exodus Wallet

Multicurrency wallet. It was created in 2016 and supports more than 100 crypto currencies, since 2019 has a phone application. The wallet allows you to export private keys that are created locally, and then to upload them back. Private keys can be discounted to removable media and downloaded only when the transaction is completed. If the user decides to leave private keys on the same computer where the wallet is located, keys are securely encrypted. In order to use your wallet ,there is no need to register or to download the entire blockchain — synchronization is taking place online. In addition to wallet services Exodus Wallet provides an integrated crypto-exchange. The installation file weighs 85 mb.

Bitcoin Core

Bitcoin Core is the official Bitcoin wallet. The size of the wallet is 160 gb, but according to the developers of the company, it’s better to give it a separate winchester with the size of 500 gb. From the security viewpoint, it’s suggested to install a security code or a seed phrase, which may consist 8 words. It is also suggested to copy wallet.dat file. — private wallet key, which will allow you to restore access to your funds.

Hardware wallets

Appears like a regular flash drive with an interface (screen, control keys). This wallet can safely store information about the balance and keys, full functionality is available only when connected to a computer, but the latest models have a special button that allows you to confirm the transaction without connecting to a PC. Each time the device offers to generate a new code-password to confirm the transaction, which significantly reduces the probability of hacking. After generating the code, you need to set a mnemonic phrase (seed) — it consists of 12 or 24 words, which are not related to each other in any way. Such type of wallets has a special protection system that allows you to connect even to potentially infected PCs. The wallets themselves won’t be affected by malware.
The obvious cons of hardware wallets are the following:
  1. It is also possible to lose a device that is so small in size.
  2. A physical device can easily fail due to a variety of damages.
  3. It is not recommended to buy such wallets from “hand”, even from friends, as they can be pre-installed with malware.
As you can see, storing crypto currency with a hardware wallets is very safe and secure, however you should take care about the device. Many people who hold a large amount of crypto currency, in order to not to lose a hardware wallet, store it in a safe deposit box, depriving someone of access to it.

Popular Hardware Wallets models

Trezor One

The first hardware wallet produced in 2013 by the Czech company Satoshi Labs. The device has an OLED display with a pin code, public addresses and Seed phrases. Trezor One has won recognition from users due to its multicurrency and affordable price ($65), it is also considered one of the most secure hardware wallets.
Ledger Nano S
The wallet was released in 2016 by the French company Ledger SAS. Distinctive feature from the other wallets, is the Secure Element controller, which meets banking standards and is certified CC EAL 5+. Also, in order to work with each crypto currency you need to install a special application for this currency on the device, it is not quite convenient, however more secure. The average price of the device is $85.
KeepKey
The purse was released in 2015 in the U.S.. Distinctive feature is OLED display — 256 by 64 pixels. Due to this, you can fully see both the address of the wallet, and the seed phrase. Also, the wallet has a built-in exchange service ShapeShift — an opportunity to exchange crypto currency without entering the exchange. The average price of the device is $50.
BitBox01
Ionos Schnelly’s wallet was invented in Switzerland. In size it’s almost the most compact among all representatives of the hardware wallets. A distinctive feature is the availability of a backup — the card can be multiplied and kept in several places, by analogy with the seed-phrase. In November 2020, support for these wallets will be discontinued, but all owners will be given a 30% discount on the new model. The average price of the device is $55.
CoolWalletS
Developed in Taiwan by CoolBitX, which has long been manufacturing components for Visa and MasterCard. As well as Ledger Nano S has a security standard CC EAL 5+. This wallet works only through smartphones, connecting to them through Bluetooch. The average price of the device is $100.

Paper Wallet

In the age of technological process, plain paper has become a rather reliable method for storing cryptocurrency. With the help of special services, such as bitaddress.org, you can generate public and private keys, then writing them down on paper. You can also print keys as a QR code. To accept transactions with such a wallet, you provide the sender with a public key. To access the funds, you need to find any online wallet that supports your crypto currency. Enter your private key into your online wallet, thus integrating your funds into the system. However, you should understand that after this procedure your wallet will become “hot”.
The best of this storage method — paper wallet is free, its safety depends only from you. When storing a paper wallet to protect it from the fire, water and aging. Also, do not tell other people about where your paper wallet is hidden.
The disadvantages of this storage:
  1. If your wallet is lost, it will be impossible to restore it.
  2. Exposed to a physical damage.
  3. After sending the transaction, you will have to create a new cold wallet.

Offline transaction signature

For this storage method, you will need two PCs. The essence is that the secret keys are never in contact with the Internet, but are stored digitally. Offline transaction method is suitable for people who do not make a daily transactions and have an access to two devices. The process is below:
  1. A hot wallet is installed on a PC with the Internet. The transaction is created without entering private keys and authorization.
  2. The file with transaction is copied and transferred to the second PC without Internet, where private keys are stored.
  3. The transaction is signed offline, copied and transferred back to the PC with the Internet.
In fact, you can do it with one PC and a USB drive. The USB drive will store private keys. Also, you can create a transaction without entering private keys and authorization, after disconnecting the Internet, connect the flash drive, sign the transaction, turn on the Internet. In this case, you should take care of the antivirus system.
The disadvantages of this method:
  1. Using two PCs or a USB drive involves a lot of actions, which is time consuming.
  2. You need to back up your keys in case your PC or flash drive fails.

Multi-signature wallet

This method implies the creation of a wallet, which can be only withdrawn on condition that the transaction is verified by a predetermined number of users. The maximum number of users who can hold private keys of the wallet- is 15. It is considered as one of the most reliable ways of storage, in fact private keys are not only stored offline, but also divided between different people. Often the wallet with multisignatures is used by large crypto-companies, whose management believes that individually employees can not spend the budget. Moreover, when creating this wallet, the number of required multisignatures is minimal. For example: if one of the six keys is lost, the remaining ones will be enough for the transaction.
The disadvantages of this storage:
  1. If most of the keys are lost, access to the funds cannot be restored.
  2. You will not be able to make transactions on your own without the participation of other key holders.

Private Key Fragmentation

The private wallet key consists of 64 symbols. The key is divided into several fragments. They don’t represent anything separately, but if you put all the fragments together, you can access the funds. The key fragments are similar to multisignatures, but in this case you don’t need a multisig-wallet, and the whole process can be done manually.
The disadvantages of this method:
  1. If one fragment is lost, access to funds will be lost.
  2. The maximum level of protection can only be reached when key fragments are distributed to different places, for example: bookshelf, safe deposit box, car. If you divide the key fragments and put them in different boxes — the required level of protection will not be achieved.
When writing down key fragments on paper, protect the key from fire, water and aging.

Conclusion

Digital currencies are not physically expressed and exist only in the digital code, so cold wallets that doesn’t have an access to the Internet, protect cryptocurrencies from the most important and common problem — hacker theft. However, holders of cold wallets need to understand that the safety of a private key depends only on them. There are different ways to store private keys outside the network, but each of them makes it difficult for the user to make transactions.
Hardware wallets that have been specifically designed for this purpose are considered to be the best option for storing cryptocurrencies. With their help it is possible both to store funds off the network and to make transactions easily, without risking the safety of a private key. If you use other cold wallets, it is recommended to combine them with hot wallets. Keep the required crypto currency for daily transfers on hot wallets, and keep all other crypto on cold wallets.
Please don’t forget to follow us on Telegram and stay updated!
YOUR CRYPTO BOSS
submitted by yourcryptoboss19 to u/yourcryptoboss19 [link] [comments]

Our first generation hardware wallets were made of military-grade aerospace aluminum. We’ve stripped all that down to just focus on air-gapping your private keys.

Our first generation hardware wallets were made of military-grade aerospace aluminum. We’ve stripped all that down to just focus on air-gapping your private keys.

https://preview.redd.it/0rogeunfujv41.png?width=1024&format=png&auto=webp&s=8a2cf5eff6f30a36fd7e86e16331eb40b4072627
Hey bitcoin! I'm Lixin, longtime bitcoiner and creator of Cobo Vault.
I come from a background in the electronic hardware industry, and experienced one of my products being featured in Apple Stores around the world. Back in 2018 Cobo CEO Discus Fish, who also co-founded F2Pool, invited me to help build Cobo’s hardware product line. As we had strong ties to miners in China, we naturally designed the 1st gen with them in mind. In China, mining farms are nearly always built in very isolated places where there is very cheap wind or water electricity. When we built our 1st generation Cobo Vault hardware wallet, we needed to maximize the durability of the device in addition to its security. We used aerospace aluminum rather than plastic and made it completely IP68 waterproof, IK9 drop resistant, and military standard MIL-STD-810G durable for the mining industry.
Things changed last year when I went to Bitcoin 2019 and talked to lots of hodlers in the States. I found that 95% of them don’t care about durability. I asked them if they were afraid of their home being flooded or burned down in a fire. The answer is - yes, they are afraid of these things, but see them as very low possibilities. Even if something were to happen, they said they would just buy another HW wallet for 100 dollars. From these conversations, it became more and more clear we should design a product around a normal hodler’s needs.
Our 2nd gen product compromises on durability but doesn’t compromise on security.
Most hodlers share some needs with miners:
  1. Hodlers want a more air-gapped solution so we kept QR code data transmission between your hardware wallet and the companion app which is also auditable.
  2. A Secure Element is the strongest wall of protection from physical attacks. We are the first hardware wallet - also maybe the first electronic product with SE - to have open source SE firmware.
  3. A battery can be a significant weak point. The 2nd gen continues the legacy of detachable batteries to prevent corrosion damage and will also support AAA batteries in case your battery dies someday.
  4. The 2nd gen also keeps the 4-inch touchscreen so you don’t need to suffer from tiny buttons and little screens anymore. Human error is one of the biggest reasons people lose their assets.
  5. We kept other features like the self-destruct mechanism and Web Authentication, which prevent side-channel and supply chain attacks.
If you'd like to read more about these features, check out our blog posts.
Aside from the legacy of the 1st gen, our 2nd gen product will have:
  1. Open source hardware wallet application layer and Secure Element firmware code. With the open source firmware code, you can see: random number generation, master private key generation, key derivation, and the signing process all happen within the SE and your private keys never leave.
  2. At the Bitcoin 2019 conference half the hodlers I met told me they own multiple hardware wallets which they use on the go. We added a fingerprint sensor you can use to authorize transactions without typing in your password. No need to worry about surveillance cameras when using your hardware wallet in airports.
  3. We will also support PSBT (BIP174) to be compatible with third-party wallets like Electrum or Wasabi Wallet in case people have need of using Cobo Vault with their own node or coinjoin. Multisig between Cobo Vault and other wallets will be realized to prevent single point failure with any brand of hardware wallet.
  4. By sacrificing the durability, we successfully controlled the price under 100 USD for the basic version.
  5. BTC-only firmware version for people who want to minimize the codebase for less of an attack surface.
We truly appreciate the support from the community and are giving away free metal storage Cobo Tablets with every purchase of our 2nd gen for a week! Add a tablet to your cart and place your order before May 5th, 8 AM PST to claim your free metal storage. Find us on Twitter CryptoLixin and CoboVault - any suggestions or questions are welcome!
submitted by Bright_Charge to Bitcoin [link] [comments]

The most important properties of a CryptoCurrency and why crypto cannot compete with Fiat/USD today. [Thoughtful Discussion]

The dream of bitcoin, at least originally, was to become a spendable currency. One that could replace the use of government fiat currency. However, today there are not cryptocurrency that are realistically good enough to be used in place of standard USD debit cards or cash. So what properties would a cryptocurrency have to have in order for me to be able to stop using USD almost completely? I will attempt to build a list. The lack of any 1 of these properties would make it very, very difficult to replace USD completely.
  1. Ownership/Control/Security - it must be in my control, like bitcoin. Not custodial, like PayPal. Many cryptos offer meet this requirement as it's perhaps the main benefit of crypto.
  2. Cheap to use - I pay minimal transaction fees when using USD to buy things, I wouldn't want to switch to something that's much more expensive.
  3. Easy to Use/Spend - Mobile wallets are important here, because I can't bring my PC and Hardware wallet to the grocery checkout. Must be comparable to Apply/Samsung pay
  4. Instant Settlement - I'll lump in Transaction times and TPS together here. If my transaction isn't final nearly instantly, I just can't to use it to replace USD at the checkout.
  5. Financial Privacy - nobody knows the balance of my bank account or my transaction history when I use USD, and I wouldn't use a system where that info public. Nearly all coins fail this one.
  6. Stable value (or increasing) - When using USD, I know how much purchasing power I have. If I have enough money in my account to pay my rent, then the next day I don't. That's a problem.
There are no cryptocurrencies in existence in existence today that have all of the required properties listed above, and that is why crypto is a competitor to fiat/USD today.
At the risk of being downvoted for mentioning specific coins, I will provide some commentary on some existing projects that attempt to capture these important properties listed above.
If I didn't list your favorite coin, or I am missing any projects with a unique combination of properties, please leave a comment and let me know. Obviously it's impossible for me to know everything about every project out there.
As it stands today, there are no coins in existence that provides all 6 of these required properties, and that is the reason I still use USD for my day-to-day transactions. I could perhaps even look past 1 or even 2 of these properties if they were missing. But even then, few if any crypto projects today are close to providing all or most of these properties.
In my estimation, the ideal USD replacement coin (for me) would look something like DAI + Monero's privacy + Nano's speed and feeless-ness. So for the time being, I can't ditch my debit card.
submitted by UnknownEssence to CryptoCurrency [link] [comments]

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging at Genesis Block.
https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player
This is the third post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series.
97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit.
So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.

Stablecoins

Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility.
There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
The most popular USD-pegged stablecoins include:
  1. Tether ($10B): It’s especially popular in Asia. It’s backed by USD in a bank account. But given their lack of transparency and past controversies, they generally aren’t trusted as much in the West.
  2. USDC ($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
  3. DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Other notable USD-backed stablecoins include PAX, TrueUSD, Binance USD, and Gemini Dollar.
tablecoins are playing an increasingly important role in the world of DeFi. In a way, they serve as common pipes & bridges between the various protocols.
https://preview.redd.it/v9ki2qro12b51.png?width=700&format=png&auto=webp&s=dbf591b122fc4b3d83b381389145b88e2505b51d

Lending & Borrowing

Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid.
Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens.
Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive.
The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
I repeat, all loans are overcollateralized. If the value of the collateral depreciates significantly due to price volatility, there are sophisticated liquidation systems to ensure the loan always gets paid back.
https://preview.redd.it/rru5fykv12b51.png?width=700&format=png&auto=webp&s=620679dd84fca098a042051c7e7e1697be8dd259

Investments

Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments.
Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol.
Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery.
Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur.
And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio.
With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
https://preview.redd.it/agco8msx12b51.png?width=700&format=png&auto=webp&s=3bbb595f9ecc84758d276dbf82bc5ddd9e329ff8

Insurance

As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong.
Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k.
There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Two protocols that are leading the way on DeFi insurance are Nexus Mutual and Opyn. Though they are both still just getting started, many people are already using them. And we’re excited to start working with them at Genesis Block.
https://preview.redd.it/wf1xvq3z12b51.png?width=700&format=png&auto=webp&s=70db1e9587f57d0c470a4f9f4523c216929e1876

Exchanges & Liquidity

Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols.
Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth.
https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943
There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers.
Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound.
There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
Users can earn passive income by supplying liquidity to these markets. It usually comes in the form of sharing transaction fee revenue (Uniswap) or token rewards (Balancer).
https://preview.redd.it/wrug6lg222b51.png?width=700&format=png&auto=webp&s=9c47a3f2e01426ca87d84b92c1e914db39ff773f

Payments

As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto).
Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times.
The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW!
Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized).
Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum).
In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
https://preview.redd.it/svft1ce422b51.png?width=700&format=png&auto=webp&s=9a6afc9e9339a3fec29ee2ae743c07c3042ea4ce

Impact on Genesis Block

At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.”
https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8
When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be.
We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
---
None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block.
So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions.
To look at more projects in DeFi, check out DeFi Prime, DeFi Pulse, or Consensys.
------
Other Ways to Consume Today's Episode:
Follow our social channels:https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto:https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

Use Same Wallet on Two Devices

I have just created a standard Electrum wallet on my Linux laptop. I've set the .electrum folder to sync to my Nextcloud server. Is it possible to use the Electrum app on my Android phone to sync with that same wallet folder (using the Nextcloud mobile app) so that I can see and interact with the same wallet with two devices? Not necessarily at the same time, but I don't want to have a separate wallet for each device. I tried importing the wallet via the bitcoin address option on the mobile app and taking a photo of the QR code, but the "Next" button stayed grayed out.
submitted by gerowen to Electrum [link] [comments]

Introducing Satpile -

Introducing Satpile -
Hi,
We just released our watch-only BTC app, so I thought some of you would be interested to know about it. Perfect for checking balance of hardware wallets and paper wallets, gifts, charity, multi-signatures etc. Also useful with dollar-cost averaging (DCA).
Key features :
  • Track as many Bitcoin addresses as needed;
  • Multiple folders structure for better clarity;
  • Displays total and subtotals balances;
  • Custom name for each address & folder;
  • Supporting P2PKH (1...), P2SH (3...), Bech32 (bc1...);
  • Built-in QR scanner to add new addresses;
  • Easily share addresses and QR codes;
  • See balances in satoshis;
  • Bilingual (EN & FR, more languages coming soon)
  • Dark mode.
Verify balance on external browser :
  • mempool.space
  • blockchair.com
  • blockstream.info
  • tradeblock.com
  • blockcypher.com
  • blockchain.com
  • smartbit.com.au
  • blockexplorer.com
  • btc.com
  • (User's own full node and more coming soon!)
Sats-friendly: Balances are displayed in satoshis as standard unit.
Open source under MIT License.
GitHub at: https://github.com/Satpile
Download on the App Store: https://apps.apple.com/us/app/satpile/id1510284403 (Android version coming soon...)
Feedback welcome! https://satpile.com
https://preview.redd.it/8a9akodhl5051.png?width=1242&format=png&auto=webp&s=3dd7260ef2ea35f6378318019db54be2f74329ea
submitted by z_5 to Bitcoin [link] [comments]

Get Ticketing -- A Sleeping Giant

Here is an article by an author named Adnan about why Get Ticketing will explode:
https://medium.com/@adnanzzz/the-bullish-case-of-get-protocol-451ad6059f2d
Below is the same article copied and pasted for those who are too lazy to click the link. However, I recommend reading the article from the link instead as it has a lot of graphs, links, and pictures that gives a much fuller picture.
 
"GET protocol — the sleeping blockchain giant
Bear with me as I try to explain why the GET token is currently the most bullish crypto token in the space. The price surge will be driven by adoption and not just mere speculation. And adoption is already there but will only now start to gain huge momentum!
By the time you have read this blog you will come to see how most other crypto projects lose value in your eyes when you compare it to a project with amazing fundamentals, a project that doesn’t need an “altseason”, driven by mere mindless speculation, to give you nice returns!
Most people in the crypto space have never heard of the GET protocol. This is on one side suprising because there are 191.329 wallet holders to be exact. This means that 191.329 people have used the GET protocol, mostly without even knowing it!
The focus has always been on building a product that works and where there is demand for. Where other projects have focused and spent their funds on marketing in the crypto space (meaning luring in new investors) GET has neglected that part a bit.
Instead they focused their funds on building a waterproof system and acquiring clients who will use the protocol (venues, artists, governments, …). The effect of this is that the price hasn’t been affected by speculation.
The list of artists who use GET-fueled tickets is endless and I have honestly lost sight of everyone who uses it. But to give you an example of adoption, here is a list of some of the artists who sell GET-fueled tickets:
 
What is the GET protocol and what does it do?
The GET Protocol offers a blockchain-based smart ticketing solution that can be used by everybody who needs to issue admission tickets in an honest and transparent way. The goal of GET protocol is to become the worldwide ticketing standard.
To put it in simple terms: the ticketing industry is plagued by dishonest players. Not only ticket fraud but also scalping are an enormous problem in the industry. Once a ticket sale starts bots buy up the tickets and later sell them for enormous profits.
Fans are sidelined and are forced to buy tickets of their idols for a much higher price. The scalpers, not adding any value in the process, make tons of money at the expense of artists, fans, venues, event organizers, … and everybody who makes the event industry what it is.
 
This is where GET offers a solution proven to work
The tickets issued on the GET protocol are registered on your phone. This means that only the person in possession of the phone also owns the ticket. Every ticket is unique and is based on a QR code that updates itself and rotates to prevent fraud and scalping.
The tickets are all registered on the blockchain as a mean of transparency and accountability. This means that fans can check ticket authenticity whenever they want. This is also where the GET token comes in play but more on that later…
 
GET is currently the best adopted microcap
This is a bold statement but it’s not difficult to prove. Whereas other crypto “companies” confuse their investors with a lot of technical words that the average Joe doesn’t even understand and show off with meaningless partnerships, GET is actually changing the ticketing world for the better!
At the moment of writing there are 4 ticketing companies that are completely integrated in the GET protocol, and together have sold many GET-fueled tickets!
These companies currently run on the GET protocol:
Integrating an existing ticketing company is a low investment move (only the GET token is needed) that offers traditional ticketing companies several benefits. That is why I expect many ticketing companies to integrate and GET to scale quickly.
 
The supply
Some people are scared by the big difference in the circulating supply and the total supply. This is an unneccessary fear. The GET supply is made up of 3 portions:
This means that the circulating supply as it is now can only, ever, lightly increase for the purpose of growth. With the buybacks and burns being large enough the circulating supply will instead keep decreasing at a swift tempo.
 
GET in times of COVID19
In May Dutch group Di-Rect sold thousands of tickets for an online concert. They used GET’s technology to use a dynamic price setting. This means that fans were given the option to pay whatever they wanted for a ticket. Whoever paid €20 or more had the chance to win a lottery and be present at the concert.
Once the concert starts, whoever bought a ticket, will be able to watch the streamed concert on GUTS’ app. This is yet another proof of the advantages a digital ticket offers. As this was a big succes, the expectation is that more and more artists will make use of GET’s technology.
On 27/05 Dennis van Aarssen, The Voice Of Holland 2019 winner, announced that he will also do a livestreamed performance of classic covers and original music on June 7th. All tickets will be issued through the GET protocol.
GET also offers several advantages in different areas in the fights against COVID19. The right of access being linked to your mobile makes it possible for potential clients to monitor the number of visitors in real time all the time, to apply an automated seating selection which consideres an appropriate distance between all visitors, queue control, booking of timeslots for museums, shops, parks, beaches, … so overcrowding can be avoided.
When an event gets cancelled, whereas with paper tickets it’s sometimes impossible to track who owns the ticket at the current time, with GET’s technology the event organizer can, with one click, choose to make a refund to the current ticket owner, to communicate with him, to postpone the event, …
 
What more to expect in the (near) future?
There are so many amazing things to come in the very near future so I’ll only focus on a few of them:
Seeing the adoption the GET protocol has, the solution they bring and the enormous potential they have in conquering the ticketing industry, they have been asked by Kakao to join their blockchain “Klaytn”. So GET is an initial service partner of the Klaytn blockchain.
“Kakao’s global public blockchain project Klaytn is an enterprise-grade, service-centric platform that brings user-friendly blockchain experience to millions.”
The choice for choosing to be an Initial Service Provider of Klaytn is based on two aspects. The first aspect is the fact that Klaytn’s blockchain infrastructure is fully business and integration focused, more than any other blockchain in the market.
This results in huge improvements in areas as cost-efficiency, scalability, and data reliability. The second aspect is fueled by the potential of being part of the Klaytn ecosystem.
Kakao is a giant in South Korea. GET will bring its adoption to Kakao’s blockchain and Kakao, with its giant network, in return will open many doors in South Korea. A win-win for everyone involved!
In 2017 Kakao had more than 220 millions users on their messaging and content platform. The last few years the company has been rapidly expanding in other industry verticals.
 
GET fueled tickets sold for K-pop stars
As mentioned earlier: South Korean ticketing company getTicket will run fully on the GET protocol. They have already deals in line to sell tickets for K-pop stars in their country.
K-pop legend Mr. Won-Kwan Jung, as someone who has a lot of connections in the K-pop world, has joined the GET protocol as an advisor. He is an iconic figure and innovator in the world of K-Pop, owing to the fact that he was one of the three original members of SoBangCha, (or ‘Firetruck’ in English) which is regarded as the first K-Pop group to exist in the world.
In a survey conducted in 17 countries in 2019, around 37.5 percent of respondents stated that the genre K-pop was “very popular” in their country. The survey found that the popularity of K-pop reaches far beyond South Korean borders.
The fact that their idols will be selling GET-fueled tickets hasn’t reached the Korean audience yet. It is still a “public secret”. The news will be released in a directed marketing campaign later this year. You better believe that once the Koreans find out that they’ll be buying GET like hot cupcakes!
 
Tickets for museums and beaches to be in line with COVID19 restriction measures
With the Corona virus still not wiped out but more under control, many countries are lifting restrictions. This needs to be done in a safe and controlled manner. This means avoiding overcrowding. GET’s technology can and will surely help here.
GET’s system can do all that is needed now for a safe experience. Whether it’s booking a timeslot for the beach, for a museum,… or even for a shop from your home. The system lets the client monitor everything in real time. Someone can that way for example choose to go when there is less crowd. This all while fully respecting the user’s privacy.
The GET sales team has been busier than ever, being in contact with governments, museums, … and the dev team is constantly creating custom made smart ticketing solutions for new costumers. I’m sure we can expect some major announcements in this area soon!
 
Top tier exchange listings & marketing in the crypto space
The team has confirmed that listing on a top tier exchange has already been agreed. They’re just waiting for the right time to announce it, fitting in their marketing campaign. Besides that, a fiat on ramp exchange will list GET in a short timeframe.
Many projects invested most of their funds in exchange listings and fake volume, creating artifical demand. These exchange listings are almost always accompanied by paying for a market maker. Once the funds dry up (and we have seen this with many projects) delisting becomes a reality and the funds end up being spent in vain.
GET’s exchange listing and marketing campaign aren’t a means to pump the price but have the goal of creating liquidity for the end users (mainly ticketing companies) who will need to acquire a lot of GET from the open market in the short future.
 
Expansion in several other countries
GET’s business developer Sander:
"I am reached out by ticketing parties all around the world on a daily basis. The main challenge is to vet these parties. The goal of GET Protocol is to be the worldwide standard of digital admission rights and to get there we need to stay extremely lean and flexible in order to scale well.
In that sense we need to be 100% convinced the parties we partner up in this phase have a very high potential of becoming a big player in their respective geographies. From the onboardings we currently experience, we learn to speed up onboarding processes upcoming year."
And when asked how many tickets he expects to be sold in the near future and how many ticketing companies he expects to run on the GET protocol in 5 years time:
"Along the journey, we here at GET and GUTS learned quite a few things. One of them is avoiding to publicly announce ticket sale estimates as the chances are that we shoot ourselves in the foot with that. If we don’t meet our estimates, life sucks and the community will let us know which is fine and rightful, but to be honest for GET nothing to win.
If we meet our goal, it is okay but even then some people members manage to say they hoped for even better. In that sense, whatever we do, we can’t do well enough on that front, so I am reluctant about giving specific numbers (and I don’t have a crystal sphere either!).
That being said, regarding the amount of ticketing companies in 2025, I expect many, in many countries. It’s a matter of time that we can easier offer our products in a whitelabeled manner. Only this week we got requests for more information about our services from Germany, Paraguay, Mexico, UK and Italy and Australia.
This certainly doesn’t always mean a ticketing company could lead out of such a request, but the interest is certainly there. If we keep on doing what we do now, I believe we can boost ticketeers and event organizers around the world pretty soon and let them issue fully digital and blockchain registered tickets, all processed by GET Protocol. If more ticketing companies are onboarded, the amount of ticket sales processed by the protocol will grow exponentially."
Knowing how GET’s team has always been very careful with their promises, I take such statements very seriously. If the past has taught me anything: they’re probably making an understatement. So expect GET to spread its wings in many regions around the world and take the ticketing world by a storm!
 
Staking & nodes
GET’s blockchain developer Kasper Keunen has announced that a staking model is being developed. This means that you’ll be able to stake your GET. In return a portion of the ticketing fee will be rewarded to those stakers and nodes. So see it as a passive income. You sit down, relax and see it grow exponentionally as GET conquers the ticketing world :)
 
The end goal is to be an open source protocol
The endgoal of the GET protocol is to become open source. There will be a governance model where changes to the protocol will be determined by GET token holders. That’s why I expect ticketing companies to acquire a lot of GET in time as their revenue relies on the direction of the protocol.
GET will have a role as governance for the project as a whole. Such a role for the token is the most natural in a fully open-sourced environment of the protocol(currently not the case, yet).
As then governance by stakeholders (ticketing companies) with a serious stake in the game as their ticketing revenue relies on the direction/quality of the code to be on point.
As of yet, we do not really assign too much fundamental value to this role for the token (we barely mentioned it actually) as it is still a bit early for it to have serious merit.
So pushing that value of the token now would be a bit false advertising. As we onboard more and more ticketing companies we will develop the governance of the token role more and more!
 
Why the GET token is set to explode
Now that I’ve covered what the GET protocol is and where it’s going, it’s time to dig deeper in the token. And I have to say that I’ve never been more bullish on anything in my life. This for the simple reason that usage will drive the price to insanely high levels (where speculation isn’t even needed).
 
Tokenomics
As mentioned above: to have full transparency and accountability (both missing links to make the ticket industry fraud- and scalpfree) all tickets sold are registered on blockchain.
You can compare GET to a gas that is needed to fuel the protocol (every state change of the ticket needs to be registered — for which GET is needed). So for every ticket sold GET is bought back from the open market and burned forever.
 
GET’s valuation in the (near) future
Bear in mind that this is my own expectation, based on big changes in supply and demand that I will try to explain below. Also keep in mind that I’m not a financial advisor and nothing is guaranteed in the crypto space!
But I will try to explain why I personally believe that GET will be trading at 10€ per token and more in the near future.
As time goes on and more tickets are sold, the demand for GET will keep increasing while the supply will keep decreasing. You don’t need to have a PhD in economics to understand what this will do to the price!
 
What kind of demand/buybacks can we expect?
As explained above: for every ticket sold at least €0,28 worth of GET is needed by the ticketing companies. Most of this GET is bought back from the exchanges (the money to do this is included in the ticket fee).
Some GET is supplied by the “user growth fund”. This is a fund created to give potential new customers a discount. This is done by subsidizing them a portion of their need for GET so these new customers don’t need to pay the full price immediately. Bear in mind that as time goes by this fund will dry up and all the GET that is needed will from that moment on be bought from the exchanges.
Since the buybacks are based on the amount of tickets issued by the protocol, to calculate what kind of buybacks we can expect in the future we need to look at the ticket sales. As mentioned before there are 4 ticketing companies using the protocol right now (GUTS, ITIX, TecTix and getTicket). Below I will make an estimation of what to expect from them.
GUTS has sold over 400k tickets. From just the deals already signed, over a million tickets would have been sold in 2020. Due to Covid19 most events had to be posponed (not cancelled). In the meanwhile the GUTS sales team hasn’t been idle and has atracted many more customers.
This means that the 1 million tickets number is probably even on the low side. But let’s say a minimum of 1 million tickets will be sold the first year where all events will be allowed again. This means that at least €280.000 worth of GET will be needed in that year.
ITIX sells 2 million tickets a year on average. Once fully integrated they will thus need at least €560.000 worth of GET on a yearly basis.
TecTix, as a new ticketing company, it’s hard to predict what kind of numbers they’ll be running at the start. But given the expertise of the TecTix team I think 200.000 tickets is a safe bet to start with. That would put us on at last €56.000 worth of GET needed/year.
And finally getTicket, a ticketing company based in South Korea. In their case it’s also difficult to make a prediction because they’re new and we have no previous data to rely on.
But judging from the comments made by the team that “everything is bigger in Korea” and that they’ll be selling stadium concerts for K-pop stars (just one concerts can mean over 100.000 tickets sold) I think it’s safe to say that they’ll be selling at least 1 million tickets/year. That would bring their need for GET to at least €280.000 a year.
So if we put this together the 4 ticketing companies will need over € 1 million worth of GET on a yearly basis. Bear in mind that more ticketing companies will keep joining and the existing ticketing companies will keep growing, taking away marketshare from ticketing companies that can’t offer all of the advantages mentioned before.
Based on all of this I, pesonally, would say that €5 million/year in GET buybacks by 2023 is not an unreasonable prediction.
 
What can we expect from GET’s supply?
Demand for a token means nothing if the supply is unlimited. The best example of the importance of the supply is the recent Bitcoin halvening that got everyone excited.
Before the halvening around 1800 BTC were mined every day. Let’s say that at current prices this was around $16 million worth of BTC per day. The miners obviously have to sell a large portion of this to cover their costs. So even if there are no other sellers, a large number of BTC has to be bought from the market every day just to keep status quo of the current price.
Halvening basically means that the speed at which the supply increases will be halved (900 BTC mined on a daily basis instead of 1800). The supply of BTC will still continue to increase, only at a slower tempo.
Scarcity should be the ultimate goal when investing in utility tokens.
With GET’s utility token things are different: every GET bought by a ticketing company will be burned. Contrary to BTC the supply of GET will thus continue to decrease as time goes on, removing the stacks of those eager to sell.
This is not a dig at Bitcoin by the way as I’m a fan. Just highlighting the advantage an adopted utility token with good tokenomics has over “the king”.
I hope you now understand my expectation that the price will explode. Many holders will obviously not be willing to sell at current prices with such an increasing demand.
As the price is determined by many factors and we don’t know what the price will do exactly, it’s not possible to pin down the exact supply in the future. We do know that it will keep decreasing at a swift tempo unless the price goes parabolic.
 
Finding the equilibrum for the price
The demand for GET will keep increasing through adoption and the supply decreasing as the used GET are destroyed forever
The equilibrium price and equilibrium quantity occur where the supply and demand curves cross. The equilibrium occurs where the quantity demanded is equal to the quantity supplied. If the demand increases and the supply decreases then the price will rise until it finds a new equilibrium.
Putting a correct marketcap valuation on a crypto project is an extremely difficult task. With traditional companies we can for example rely on the revenue, profit, dividend payments, … to estimate what the company is/should be worth.
In most countries a 5% rental yield is considered a good investment. Of course it’s not fully comparable as these buybacks don’t automatically put money on your account. But they do increase the price and destroy the supply. So I think it’s in a way reasonable to extrapolate this 5% yield to our case.
Having explained why I expect atleast €5 million in yearly buybacks by 2023, that would mean the marketcap should be around €100 million (5% = the buyback of €5 million multiplied by 20).
The current circulating supply of GET is around 13,5 million. The expectation is that the burning mechanism will destroy more than half of that by 2023 (this takes into account an increasing price of the GET token). So let’s round it up to 5 million GET remaining.
A marketcap of €100 million with a supply of 5 million GET would mean a price of €20/GET. This would be an increase of 6566.67%.
Of course these numbers are not set in stone and merely a prediction but if you’ve been reading this blog you have come to understand why I am extremely bullish on the GET token.
I have completely taken the speculation factor or an “altseason” or “fomo” out of the equation and only focused on a price increase driven by an increasing demand and decreasing supply! So the focus is on an organic price growth.
Another great thing about holding a token with mass adoption and guaranteed buybacks is that I don’t have to worry about the price. As the buybacks are a guaranteed thing, the lower the price of GET the more GET is bought back and destroyed forever. So even a price decrease, as contradictory as it may sound, is bullish for longterm holders!
submitted by Damnyeahhh to CryptoMoonShots [link] [comments]

Recently Bought a Ledger Nano X using Bitcoin...Bitpay is very very very Shit.

I posted this over in ledgerwallet too and am posting it here in case it gets taken down.
Merde. This is more of a rant, so don't take the hyperbole too seriously.
The only way to purchase a Ledger device using Bitcoin is through Bitpay.
They have a needlessly complicated payment method/setup. Usually when you make a Bitcoin payment you get a QR code to a Bitcoin address. With shitpay, you get a QR code to a Bitpay link.
apperntly you can open this link with a wallet which should in theory automatically set up the payment for you. But with a Trezor device this is not the case.
when opening a bitpay link with the Trezor wallet, nothing happens. no payment information is revealed, no bitcoin address is shown for sending a payment.
Thus I had no idea where to send the payment for my order when trying to pay on my Trezor.
So I had to rely on a third party bitpay url decoding website to unscramble the damnable url into an actual Bitcoin address.
I sent the payment to this address and my order was confirmed. So it worked...BUT
  1. I was putting myself at the mercy of a third party tool that I have no way of knowing if it's malicious (not a coder)
  2. The bitpay link not working in the Trezor wallet is either the fault of TrezoBitpay
  3. Personally I blame bitpay, since their url method is non-standard and fucking retarded
  4. Ledger, wtf are you thinking enabling bitpay, or is this by design to screw over Trezor users?
  5. I should not have been put in this situation in the first place
please consider supporting some other payment option other then bitpay in the future for Bitcoin payments. OR grow some balls and just accept Bitcoin directly.
/rant
edit: for whatever reason the thread over at /ledgerwallet and some of the new comments in this bitcoin thread are not being approved/are being shadow banned. I can see them in my inbox though, so here is a screenshot of a few rbitcoin comments that didn't make the cut https://imgur.com/i5cIiKt
submitted by Fiach_Dubh to Bitcoin [link] [comments]

Recently Bought a Ledger Nano X using Bitcoin...Bitpay is very very very Shit.

Merde. This is more of a rant, so don't take the hyperbole too seriously.
The only way to purchase a Ledger device using Bitcoin is through Bitpay.
They have a needlessly complicated payment method/setup. Usually when you make a Bitcoin payment you get a QR code to a Bitcoin address. With shitpay, you get a QR code to a Bitpay link.
apperntly you can open this link with a wallet which should in theory automatically set up the payment for you. But with a Trezor device this is not the case.
Thus I had no idea where to send the payment for my order when trying to pay on my Trezor.
So I had to rely on a third party bitpay url decoding website to unscramble the damnable url into an actual Bitcoin address.
I sent the payment to this address and my order was confirmed. So it worked...BUT
  1. I was putting myself at the mercy of a third party tool that I have no way of knowing if it's malicious (not a coder)
  2. The bitpay link not working in the Trezor wallet is either the fault of TrezoBitpay
  3. Personally I blame bitpay, since their url method is non-standard and fucking retarded
  4. Ledger, wtf are you thinking enabling bitpay, or is this by design to screw over Trezor users?
  5. I should not have been put in this situation in the first place
please consider supporting some other payment option other then bitpay in the future for Bitcoin payments. OR grow some balls and just accept Bitcoin directly.
/rant
edit: here's some of the comments made in this thread that have not passed moderation: https://imgur.com/6NgNeGx
reddit was messing up yesterday https://mobile.twitter.com/redditstatus/status/1188620011406946304
submitted by Fiach_Dubh to ledgerwallet [link] [comments]

The Journey to attempt to get VIP.

So I had some btc, about 48 US dollars worth. I bought the standard license, no issue all good. Figured I should go for the VIP. Everywhere I went wanted me to send them pictures of a valid state ID, some trying to get SSN. Even the localbitcoin website I have seen suggested. It let me sign up but wouldn't actually let me buy anything without this.

I was 3 US dollars short of the amount needed for the Shoppy voucher link so I ended up going to a faucet and buying something that gave me 6 dollars worth of bitcoin. That in itself was a task taking about a week or more to get it. That however, is another story in itself.

So finally I get the btc in my wallet and go to impulse's site. Click the link to get the voucher, scan the QR code and pay....get a message insufficient funds sent.

So I contact shoppy support who notify me that I was a few cents short. I believe in my wallet I selected some express option which accounts for that. But support there told me they pushed the order through.

I get it, copy it paste it in....Invalid voucher not 32 characters. I count, sure enough 30 characters. On the email I got the voucher from is a link to contact the seller concerning this purchase...no response.

Contacted support for the voucher link, they give me the sellers email and tell me to email him directly. Try that, no response.

So after all of that. Over a week or more worth of work for just 3 dollars in btc to support the makers of the menu and try to upgrade my account...and I just end up getting about 26 dollars stolen. Really have no idea where I am supposed to go from here.
submitted by PokeSallet to Gta5Modding [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]

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