I thought direct import of the wallet.dat is only possible on blockchain.info? But of course you will want to think twice before doing that... It sounds to me like the blockchain is not fully synced with Bitcoin Core. There's not much else to do and wait. Unless you want to start exporting private keys or move the wallet.dat to a Bitcoin Core installation that is fully synced. To get peace of mind that the coins "are there" you always can check the address at any of these sites: http://blockr.io/http://live.insight.is/https://blockexplorer.com/ |
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do you think accepting bitcoin in Singapore will increase sales?
or it is absolutely useless?
You'll certainly get the novelty factor out of it and people will talk about it. The main question is: Do you still want SGD at the end of the day or will want to you keep the BTC? If the latter, just try it. You can get started with a cheap Android phone and the Mycelium app. Make a private key somewhere safe and use Mycelium to monitor the corresponding address. Whenever a customer comes along you or your staff can enter the SGD amount in Mycelium and it will convert using the data from the exchange of your choice. Customer scans the QR code - done. This will probably take 30 mins to an hour to setup. You always can move to a more sophisticated system later. If you want fiat out of it, you'll have to talk to Coinpip. AFAIK they are currently the only merchant solution for SGD. |
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Would it be possible (make sense) to let us use our own generated private keys for the split wallet? I.e. a box on that tab to paste a private key?
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Not very useful.  |
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Oh, by the way, can we get kakobrekla back now?
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Just remembered: If you worry about debug.log write cycles, run with -printtoconsole.
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That is what is so disconcerting, there is not much indication that the wallet is locked at all.
Do you see the lock symbol in the lower right corner? I have the same question as the OP. I just fired up bitcoin-qt and encrypted my wallet. I am pretty sure the action succeeded, I see the lock on the lower right hand corner of the dialog. Now without sending any money I would like to trigger bitcoin-qt to prompt me for my passphrase, just as a sanity check. And that's not indication enough? Regardless every time you try to send it will ask for your passphrase. If your wallet was not encrypted it wouldn't ask. You can then cancel at that point. Or sign a message to test the process completely, as was mentioned. You are correct that anyone could load that wallet.dat and see the same info about the balance and transactions etc. |
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Paper wallets can be password protected. As mentioned BIP38.
They also can be cut in parts and stored in different locations. Or generate a split wallet (bitaddress,org) to begin with. Also, paper wallets don't need to be printed, they can be stored as PDFs. You also can store your keys on several USB media and store in several locations. Plenty of options. The "best" solution depends on your situation and circumstances.
Think outside the box, but also think about how your family would get access to your coins in case you get hit by a bus.
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That is what is so disconcerting, there is not much indication that the wallet is locked at all.
Do you see the lock symbol in the lower right corner? |
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Woohoo, more rumours! https://webcache.googleusercontent.com/search?client=ubuntu&channel=fs&q=cache%3Ahttp%3A%2F%2Fwww.coindesk.com%2Fcan-chinese-exchange-okcoin-rescue-mt-gox-creditors%2F&oq=cache%3Ahttp%3A%2F%2Fwww.coindesk.com%2Fcan-chinese-exchange-okcoin-rescue-mt-gox-creditors%2F&gs_l=serp.3...2470.2470.0.2780.1.1.0.0.0.0.0.0..0.0....1...1c..45.psy-ab..1.0.0.QAckfpTr78w&pbx=1Was on Coindesk, now 404. Can Chinese Exchange OKCoin Rescue Mt Gox Creditors?
One name that crops up whenever recovery plans for Mt Gox are mentioned is one of China’s largest bitcoin exchanges, OKCoin.
It’s probably for a good reason. On an as-yet-unofficial level, the company is known to be interested in backing its own team in Japan to put Gox back on its feet and take some steps to making creditors whole.
CEO Star Xu told CoinDesk during a recent interview in Beijing that the idea had been suggested to him by some Japan-based friends, and that he personally thought resurrecting the once-dominant exchange and attempting to return its customers’ funds was important to the entire bitcoin community.
He also added it would be a lengthy process that could take years.
OKCoin says it is not considering a direct takeover of Mt Gox, but rather it wants to leverage its experience by licensing exchange and security technology under a new team that would possibly feature some OKCoin personnel.
The BitOcean-OKCoin ATMThe BitOcean-OKCoin ATM
Also involved is another Chinese company, BitOcean, which is already partnering with OKCoin to produce the first home-grown bitcoin ATMs for both the domestic and international markets.
The plan
OKCoin/BitOcean’s new plan would feature an immediate audit of Mt. Gox’s bitcoin and fiat currency reserves, a debt-equity swap in a new business entity for all creditors and the ability for users to begin withdrawing funds from day one.
The plan, according to people involved, was designed from the beginning to favor redress for Mt Gox’s customers. Some saw up to six- and seven-figure fiat-value balances simply vanish when Gox suddenly ceased all operations in February.
CEO Mark Karpeles claimed Mt Gox lost the majority of its bitcoins in hacks related to the ‘transaction malleability‘ issue in bitcoin’s protocol, though bitcoin core developers and other researchers have claimed this is not credible. It also does not explain what happened to the millions in dollar, euro and Japanese yen balances also stored there.
Lack of reliable and independent information regarding Mt Gox’s exact financial history and current situation is hampering attempts to find a solution attractive to creditors, as well as debate over whether such a solution is even possible.
The only funds known to exist at this stage are the 200,000 bitcoins the exchange announced in a press release that were found “in an old format wallet.”
Rescue vs liquidation
Rival rescue group Sunlot Holdings, which runs the SaveGox.com website, is trying to prevent the planned liquidation that would see Mt. Gox shut down completely and its assets sold.
Even that process could take years, with any remaining bitcoins treated as assets and sold at market rates before eventually being returned to former customers at some stage in the future.
At this stage any decision regarding liquidation or rescue plans rests with the bankruptcy trustee appointed by the Tokyo District Court, Nobuaki Kobayashi. Kobayashi has not yet indicated whether he favors a resurrection of Mt Gox at all.
He posted an updated notice about bankruptcy proceedings on the exhange’s homepage on 21st May, stating that a creditors’ meeting “for reporting on the status of the assets” would take place in Tokyo on 23rd July; the deadline for filing bankruptcy claims is 28th November; and a final decision will be made on 25th February 2015.
Court rejects CoinLab’s block
CoinLab, a former Mt Gox business partner still engaged in active lawsuits with the company, last week attempted to use US bankruptcy courts to block or delay Sunlot’s plan.
It said the bid headed by Wall Street trading veteran John Betts and backed by new Bitcoin Foundation Board member Brock Pierce lacked the experience necessary to perform its proposed investigation.
A Seattle court rejected CoinLab’s submission, however, saying Sunlot’s proposal did not have special status and there may indeed be other groups with their own plans.
Fiery online meeting
A Google hangout streamed live to YouTube on 27th April tried to clear the air by allowing the various interests to state their case. The meeting at times became heated as various parties questioned whether others had creditors’ best interests at heart.
US Attorney Daniel Kelman, who divides his time these days between Taiwan and Tokyo, has been exploring creditor-friendly solutions to the Mt. Gox problem for some time and strongly favors a debt-equity swap solution.
Daniel Kelman
Kelman is not representing OKCoin in an official capacity but spoke on behalf of its plan during the hangout, after speaking to associated people both in China and Japan.
He did reveal some basic details of the OKCoin group’s plan, though, which would probably involve at least a $1 million injection of capital and the selling of shares in the new entity to raise more capital.
Chinese interest
He mentioned that OKCoin’s interest in forming a recovery plan came from Chinese expats living in Tokyo and CEO Xu, all of whom had lost substantial amounts of bitcoin when Gox collapsed.
The company had not known a rehabilitation was even possible before Sunlot’s original plan was revealed, he added. Xu then realized his expertise at operating a stable bitcoin exchange, plus its existing technology and security standards, could be beneficial to an alternative campaign.
Best of both bitcoin worlds?
Some participants in the hangout were enthusiastic about the thought of a ‘Chinese-Western’ joint venture for the good of bitcoin, saying the Mandarin and English-speaking economies (mainly the US) have been bitcoin’s prime movers so far. Kelman said:
“I agree completely. Bitcoin is a worldwide phenomenon, and very much a phenomenon of the English speaking and Chinese speaking worlds … And it would be great to see an exchange that could merge those two. I think that would make it very successful also.”
Creditor caution
Sunlot came under fire on bitcoin-related internet forums like bitcointalk and reddit for various reasons, but raised eyebrows over an initial plan that appeared to use existing Gox funds to conduct its investigation and pay management fees.
The funds belonged to creditors and should not be touched by outsiders before a rescue plan succeeded, former customers complained.
Sunlot then revised its plan to include a greater injection of its own investors’ equity and offered creditors a 16.5% equity stake in a revived entity.
Other objections
Sunlot has been criticized both for being an ‘outsider’, a company with no previous bitcoin exchange experience, but also for having ‘insider’ connections due to two of its investors’ involvement in prior Mt Gox acquisition and joint venture attempts, one of which was over a year ago.
CEO John Betts took the opportunity in the meeting to defend his team’s credibility and warn critics against making claims without evidence, saying:
“Making libelous claims about intentions about people through misinformation and leaked information, rumors and hearsay is not constructive to this.”
He said his team’s offer of 1 BTC to buy Mt. Gox was twofold: it evoked the disgrace of previous finance industry collapses such as rogue trader Nick Leeson’s Barings Bank (sold to ING for Ł1), and prevented significant sums of money from flowing to Mark Karpeles, the owner.
savegox
The small sum should not be taken as a lack of Sunlot’s commitment, he said.
SaveGox/Sunlot also stated on its extensive FAQ page that it has reached out to OKCoin’s team to express an interest in co-operation, though the tone of discussion on the hangout suggests they still have some issues to iron out.
The team claims to have the backing of at least 66% of Mt Gox creditors after US class action lawyer Jay Edelson (representing the creditors) agreed to its revised plan as part of his clients’ settlement.
Olivier Janssens and mtgoxrecovery.com
Olivier Janssens, the entrepreneur and bitcoin early adopter who lost $5m worth of bitcoins in the Gox collapse, set up the mtgoxrecovery.com site. He admits his campaign is not actually a plan, but instead seeks justice for customers and Mt Gox management, by supporting whoever is best equipped to deliver that result.
Olivier Janssens
That justice would involve not only a reasonable chance of Mt Gox’s existing bitcoins being returned to customers as bitcoins, but also Mark Karpeles facing criminal or civil action for his part in the whole affair.
Online chat logs reveal Janssens is furious at Karpeles over his actions in the weeks surrounding Mt Gox’s collapse.
He said he would favor liquidation if it would return some funds to investors, rather than entrusting Mt Gox’s fate to a new and unknown company. Skeptical of Sunlot’s plan and the motives behind it, he said Sunlot had operated behind everyone’s back, only revealing its plans after they were leaked.
Bitcoiners bitten before
Janssens explained to Betts that trust levels in the bitcoin community were extremely low after numerous thefts and scams, and that users were naturally suspicious of any newcomers unless they could prove their level of commitment and be prepared to back it up with legally binding contracts.
He added that, although it was not his intention to do so, he would be prepared to contribute the $5m he lost in the Mt. Gox closure simply to find out what happened. |
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Thank you very much! ::beercheers::
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That's pretty much what I did too. Still not sure what happened. As the article mentions the band-with limitation (in their example) of the VPS..., one thing I wanted to try out was the trickle command, but haven't gotten around to it. You can limit up-/ download speeds with it. So, knowing your VPS is limited to 400 GB, you calculate your speed to transfer that amount of data in a month and set your trickle values accordingly. Since you are interested in nodes... Have you looked at other implementations such as BTCD or libbitcoin? https://opensource.conformal.com/wiki/btcdhttp://libbitcoin.dyne.org/ |
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No worries. I'm glad it worked all out and you got control over your coins again. I'm just another bitcoin user. The "Hero" etc. are simply numbers counting up. Not necessarily an indicator of who to trust or amount of knowledge somebody has, as you will undoubtedly find out if you stick around here.  Thanks again for your offer for a tip. You can send to the address in the profile or to the one I mentioned in the PM. |
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You will see them in Master once it has the blockchain up to that block where the transaction was confirmed. If I remember it all correctly... Your "mistake" was to "play with a mining application" and running multiple VMs stressing your PC whilst you had Bitcoin QT Core running (which can be a resource intensive application by itself). The result was that the VM crashed and corrupted your wallet.dat. So we started thinking the problem was with that file corruption. But as it turns out, yes, it was a synchronisation issue, thankfully that corruption had no effect on your coins. Remember that you are responsible for your bitcoins and they are valuable to us bitcoiners. Don't do too many things at the same time that could corrupt your wallet.dat and make regular backups. Another thing to remember is that your coins are not actually on your PC, for example as files or anything like that. Rather the private keys that control them are on your PC. Some more in-depth info is here: https://en.bitcoin.it/wiki/Transaction |
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Master is still 70 weeks behind.
If I delete the wallet.dat in the old MXC1, where the blockchain is already synced, can I do that importing into that wallet ?
Not that I'm in a rush, but this way I use what I have learned now...
...and I could transfer your 0.5 BTC sooner :-)
Unless you are very much concerned about anonymity, I wouldn't recommend deleting wallet.dats. Better back them up or rename to i.e. wallet_old_MXC1.dat etc. Yes, Bitcoin Core will use whatever wallet.dat it finds in its app directory. So if you copy "Master" wallet.dat in the MXC1 machine it will use that. If you already have Bitcoin Core running, remember to wait until it has shut down completely before start renaming, copying and re-starting with another wallet.dat |
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Some thoughts: Put a QR code in OP Consider using bitcoinaverage.com for currency conversion. |
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Yes. (...to "Master" shows 147 confirmations)
Yes. (...that address in "Master"?
No, sorry, Master is not fully synced yet.
Ok, wait Or if you are in a hurry, you could now get the private key to that address as described earlier and import it in another wallet software of your choice. If you use a lightweight one like Electrum that was suggested earlier the coins should be available to you to spend quicker, depending on how far your "Master" Bitcoin (QT) Core is synced of course. |
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