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I just added added a new item to the Electrum feature list:
Electrum is ubiquitous: You can use the same wallet on several computers. All instances of your wallet are automatically synchronized, thanks to "type 2" deterministic key generation. In fact, your wallet is "in the cloud", and that cloud is the Bitcoin blockchain!
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Public addresses are derived from the private key, so deterministic wallet is not the solution. However, you are correct that you don't need the private keys. You can simple keep a buffer of a few thousand address in your db that match private keys you store in a safe location.
I think electrum has implemented a solution where the addresses can also be derived from a seed. I don't see how.... the private key is the only input to the formula for generate the public key/address. Sure, you can throw away the private key after you calculate the address, but if you're hacked they will just take the seed and generate the private keys. Do you have a link to the solution you mentioned? yes, I was referring to "type 2" deterministic wallets. This solution is currently implemented in Electrum and Armory. in addition, Electrum has a working example of address generator in python-php: http://ecdsa.org/remote.php |
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I myself didn't even know of linode before. If they act correctly now, I might even consider them next time I look for a VPS provider -> successful marketing. If you should learn anything from this incident is that you shouldn't keep any big amounts of coins on a vps, linode or not. +1 If all you need is to accept Bitcoin in an e-commerce, then you do not need to leave your private keys on the server. For example, you can use a deterministic wallet to generate your addresses without the private keys. If your server needs to send bitcoins to customers (which was the case for bitcoinica and slush's pool), it is probably not reasonable to use a VPS, especially if large amounts are involved. |
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No offence to allten, but what is to keep him from purchasing FlexCoin for 1500$ only to scam all the users of their Bitcoins?
good point. you cannot sell trust, can you? |
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And if MtGox gets hacked? Or targeted by law?
I'm not going to answer the "hacked" part of your question (mtgox was hacked already), but the "targeted by law". Bitcoin is currently legal in the countries that protect free speech and trade. Changing the law in these countries is a long and complicated process, that tends to spark public debates. And if you want to stop Bitcoin, a public debate is the last thing you want. If they want to stop Bitcoin, banks and governments are more likely to use existing anti-money laundering laws. What they can do with these laws is limited. They can target exchanges that rely on bank accounts, such as MtGox. However, there is nothing they can do against semi-centralized exchanges such as bitcoin.de or bitcoin-otc. |
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Also I use StrongCoin.com and there is a great wallet service at BlockChain.info - there are many wallet services. This is not an issue as many have stated.
As I understand StrongCoin, it works similarly to BCCAPI or Electrum in principle - the server never knows your private key. I'd want to do a lot more research before using it though. web wallets use javascript. this means that javascript code is sent by their server to your browser when you visit the wallet. if the server gets hacked, I am afraid the "server never knows your private key" assumption will fail miserably... |
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(just don't forget backups!).
Electrum does not need regular backups. It uses a deterministic wallet. you just need to write down the seed somewhere, or to memorize it. |
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Now when I look at it, there is a little over 1500 registered users. So it seems that they gained users via the 1BTC reward, but the growth has diminished after that.
look again. FYI, ogrr has been around since end of october. |
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Hey, I goof around a lot, and like I said I was banned for it already. Don't take it the wrong way, it wasn't to attack you personally or anything like that. I even thought it was funny  I know. like I said, I consider what you did to be part of the game. What I do not accept is that an admin uses his admin permissions to start a thread with me as the OP, because I would never have started such a pointless thread. |
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Can I change my avatar back to this?  please do so! this will just turn more users against animated avatars... btw, is it offtopic to mention that I do not like ad hominem attacks? you might not like Bruce Wagner, it is not a reason to attack him that way. |
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Want me to just STFU? 1PKyq6aMKcCwn8cmb9Jc5SkNydLsQb5n7K Do you count your signature as begging? because I do. |
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I did report it, yes. Your reply and the other 2 that followed. And it seems someone agreed.
I can undersand that a user reports my post as offtopic, in an attempt to censor it. I can accept that an admin fails to see the connection between my post and the OP, and agrees to view it as offtopic. However, I do not accept the fact that said admin creates a new thread from scratch with me as OP, without telling me or asking my permission, because this was never my intent. That is not correct. The admin should be de-oped for that. @psy: if you could use a different avatar, lots of people, including me, would feel an immense relief. you might have caused several epilepsy strokes... |
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@Matthew, he was originally talking about my avatar, not about yours Indeed, I was talking about your avatar. I find it particularly disturbing. Matthew has much more taste |
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You did start the thread when you posted an off-topic reply.
Your post wasn't deleted, it was moved by Tysat choice. It could've gone straight to the garbage bin.
oh and who decided that my reply was off-topic? did you report it as such? |
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Mod note: split again.They are distracting and ridiculous., but telling people what to do is annoying as well.
I agree with you on that. Contrary to what it looks like, I did not start this thread. I was answering in this thread: https://bitcointalk.org/index.php?topic=67601.0Someone deleted my post and created a new thread with it. I find it abusive. Putting my words out of context is unfair. It wrongfully suggests that I started the thread.
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oh, and we also need a no animated gifs policy.
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Too many subforums, therefore likely to die a stale death. Whoever is running this needs some forum admin 101 lessons.
no, the subforums at ogrr reflects those at d2jsp. that's a smart decision, IMO. |
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I have been watching ogrr.com since its creation, and I find it extremely interesting to follow.
There's a real community there, and it is growing fast.
If ogrr.com gets enough momentum, we might witness something unprecedented in the short history of Bitcoin:
The complete disruption of an existing centralized currency system (here d2jsp's Forum Gold) in favor of Bitcoin.
At some point, the users of d2jsp might collectively realize that the value of their Forum Gold assets is threatened by Bitcoin.
This will create a snowball effect, where forum members try to trade FG for game items at any price, and FG loses its value.
These are exciting times...
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