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1381  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 09, 2015, 07:34:18 PM
UNOFFICIAL INCOMPLETE 0.2.0 GENESIS BLOCK DATA

Here is an UNOFFICIAL INCOMPLETE listing of the 0.2.0 Genesis Block.

This lists 1030 Genesis accounts for 0.2.0 obtained from the blockchain explorer at http://cryptichain.me.

The top 30 accounts come from : http://cryptichain.me/topAccounts

The bottom 1000 accounts come from : http://cryptichain.me/address/5776140615420062008C

The genesis block account is 5776140615420062008C

The block explorer lists account transactions lowest Crypti amount first and stops listing more transactions when it reaches 1000.

The 1030 genesis accounts below account for 83M out of 100M Crypti.  The top 30 accounts own 81M Crypti.  The bottom 1000 accounts own 2M Crypti.  The currently unidentified "Crypti middle class" of 30-150 accounts own 17M Crypti holding between 107K to 560K per account.

If karmacoma24 can mod his fantastic blockchain explorer to show the top 200 accounts instead of the top 30, I will be able to get access to the final 30-150 account holders and complete this list.

I will update this UNOFFICIAL genesis block list if / when that capability becomes available.

Begin genesis block data:

<Located at the new Crypti forum>

http://forum.crypti.me/viewtopic.php?f=4&t=14
1382  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 09, 2015, 11:50:40 AM

She was the star in a Sopranos episode I remember very well.  If she's good enough for Tony....

As long as we're going down this road, there's a reason The Americans is my second-favorite TV show that's on right now.  I was a fan of Keri Russell all the way back in her big-hair Felicity days.  She's even better as an, ahem, undercover KGB agent in 1980s Washington DC...


The guy in the pix is Matt Rhys, who plays her "husband".  The story is as much about maintaining trust in a marriage when surrounded by deceit as it is about espionage.  A very interesting study in psychology.

More Keri:

https://www.google.com/search?hl=en&site=imghp&tbm=isch&q=keri+russell+the+americans&spell=1&sa=X&ei=l2UmVcmZEoedsAX9p4D4Dw&ved=0CBoQvwUoAA&dpr=1.25&biw=1280&bih=866

More of The Americans (hey, you could start on these Season 3 eps right now as we wait for 0.2.0 without having seen Seasons 1 and 2, each Season is like a self contained mystery arc.  Just don't let anybody tell you what happens in the last ep of Season 2 - there was a shocking conclusion to that storyline!):

http://www.fxnetworks.com/shows/the-americans/episodes
1383  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 08, 2015, 06:59:48 PM
We are proud to announce the release of v0.2.0 alias Chronos! Chronos, the personification of time, marks the beginning of a new Crypti era, from here on there only one path exists and this is the path to the top.

Chronos was imagined as a god, serpentine shape in form, with three heads—those of a man, a bull, and a lion - http://en.wikipedia.org/wiki/Chronos  Wink

Here's Chronos as sculpted by Franz Gunther in the mid-1700s.  He worked on it for five years.  His sculpture is carved from wood and stands about 50cm / 2 feet tall.  

Notice Chronos has a scythe; this is his tool for blockchain pruning.

1384  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 08, 2015, 03:09:59 PM
Somebody just bought 150K Crypti at prices up to 1890 for 2.8 BTC total causing a nice little pop at Polo.  When the sell wall for 248K Crypti gets eaten up at 1966 all hell is gonna break loose for a while.  There's not much Crypti for sale at all above that price.

https://poloniex.com/exchange#btc_xcr
1385  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 08, 2015, 02:44:30 PM
Congrats, Passion!  Just a few more hours and it will be time to update your sig!
1386  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 08, 2015, 10:52:19 AM
Due to the very low system requirements, we anticipate being able to run a delegate on a $5 a month cloud server....
I would be very interested in seeing a PDF checklist for dummies on how to set this up and do this at your favorite cloud service vendor.

The biggest benefit of the being involved in Crypti and supporting Crypti, is that we don't function like most other teams. We will constantly monitor and discuss these fees and the ROI for delegates as well as any options available....

I totally agree this dev team and its flexability is the biggest benefit of being involved with Crypti!
1387  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 08:13:10 PM
Mal, you did not consider the Delegate Reward Program in your calculations.  We cannot promise $10 a month in earnings, but the DRP will mitigate the expense of paying to have a running delegate ...

The DRP sounds like it will just "artificially inflate" the baseline transaction traffic with "test transfers", and so "just" be a (perhaps significant) component of 10M or 100M or whatever Crypti per month changing hands during the live 0.2.0 test phase.  Not insignificant, potentially, and definitely worthwhile from a test standpoint, but you can't keep that up forever.

There is no limit to the number of delegates a person can run on the same IP.  The electrical cost of an "always on" laptop with 1 delegate is the same as the same laptop with 5 or more delegates.  

So you are running multiple instantiations of the 0.2.0 software on one machine?   Are they each running their own individual copies of the blockchain or all accessing a single common one?

I have some concerns because I don't understand how blockchain memory management is implemented and it scares me when you say terabyte blockchains are coming, presumably with Custom Chains.  I want to turn a node on and have it run a year or more as my goal.  At 2.5MB a day I get a 75MB main blockchain in a month and a gigabyte main chain in a year.  Is this all in RAM?  Getting read on and off the hard drive?  Per instantiation?

I just don't want things to go great and hit a memory limit and crash at some unknown time in the future.

Also - no limit to the number of delegates a person can run on at one IP?  THAT doesn't sound very fault tolerant.  I would have thought you would be more likely to specify 101 Delegates on 101 IPs and no more than 40 per North America / Europe / Asia or something like that.  Isn't dispersion of nodes better than concentration of nodes?  
1388  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 07:11:14 PM
Mal,

Insightfu posts as always, but I think you missed a detail on the DPOS posting a few days ago....The fee for transactions are going to be 0.1% during DPOS.  This was changed due to input from the community....  

D'oh, I missed that change, thanks for enlighening me.  I have modded my post / calculations above to reflect this 0.1% fee instead of 0.5% fee.  The new "bottom lines" repeated here are:  

For a Delegate to make "just" $10 in a month, the Crypti price has got to be 2.5X higher than it is now coupled with more than the entire total supply of Crypti changing hands every month.    

Another scenario is, if the monthly transaction traffic target is dropped to "only" 10M Crypti per month (a tenth of the total Crypti supply), then compensating a Delegate $10 per month requires a Crypti value of $0.112 each, or over X25 the current value.

As noted above, a delegate had better be prepared to fund a node out of his own pocket for probably many months until either Crypti prices and/or transaction volumes ramp up VERY significantly.

<Insert typical MalReynolds rant blah blah blah>
1389  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 05:14:50 PM

Here is the first NXT thread: https://bitcointalk.org/index.php?topic=303898.0 BCNext wrote:

<BCNext promises>

...before the killer app for end-user is out, we (Crypti) can't talk seriously about 1 USD per 1 XCR.

NXT had a lot of promises in the early days they retracted, mostly associated with "transparent forging" which was going to enable "1000 transactions per second".  NXT abandoned TPS as a significant goal and never pushed their coin as an alternative currency for widespread public use.  Instead, all the emphasis went to "Asset Exchange" so everybody could push get-rich-quick schemes in an unregulated sandbox "stock market".

Handling 1000 or even 100 transactions per second (TPS) would be a "killer app" nobody else has that would be totally in line with the Crypti  emphasis on commerce.  I think the DPos circle of 101 and only 101 forgers is a GREAT approach in this direction that should be leveraged for max TPS as the Crypti killer app.

It's just a collective of quick money makers now, thanks to the asset exchange and the open forum rules, with dozens of scams. Something need to change in that direction, or it will be a "tour-de-force" for NXT in the future.

That's why NXT has dropped from #3 to #8-#10 in market cap and why I am here instead of there.  I am interested in being involved with a coin on the way up, not down.
1390  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 04:52:47 PM

Here is the first NXT thread: https://bitcointalk.org/index.php?topic=303898.0 BCNext wrote:

<BCNext promises>

...before the killer app for end-user is out, we (Crypti) can't talk seriously about 1 USD per 1 XCR.

NXT had a lot of promises in the early days they retracted, mostly associated with "transparent forging" which was going to enable "1000 transactions per second".  NXT abandoned TPS as a significant goal and never pushed their coin as an alternative currency for widespread public use.  Instead, all the emphasis went to "Asset Exchange" so everybody could push get-rich-quick schemes in an unregulated sandbox "stock market".

Handling 1000 or even 100 transactions per second (TPS) would be a "killer app" nobody else has that would be totally in line with the Crypti  emphasis on commerce.  I think the DPos circle of 101 and only 101 forgers is a GREAT approach in this direction that should be leveraged for max TPS as the Crypti killer app.
1391  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 04:44:15 PM
Let's talk about DPoS Forging.  What has been the observed monthly upload / download transfer of data in MB required to run a DPoS node on your testnet?  What's the average number of bytes being added to a DPoS blockchain every ten seconds?  What's the minimum number of bytes added for a zero block in 0.2.0?

I'm now running a delegate on the testnet for three days (barie/jari76), and have not seen any exorbitant bandwidt usage from the node. the node is running both a 0.1.9g Client, and an 0.2.0 client. in the four days that the node has been running, it has used about 3.12GB of bandwith , which also includes setting up the node. keep in mind this is running both 2.0 and 0.1.9, and that the 0.1.9 one could be using a lot of that bandwith. 
The ram usage on the node is about 489 MB. this is a clean ubuntu install.

Would you consider shutting down your 0.1.9 for a few days, resetting your bandwidth and memory meters to zero, and running 0.2.0 for exactly 48 hours to get some statistics?  That would be very interesting...
1392  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 04:16:29 PM
While we're waiting on historical observed 0.2.0 testnet blockchain numbers to show up here, lets also start a discussion on the economics of 0.2.0 forging.   Reference http://blog.crypti.me/introduction-to-dpos/ for the origin of the numbers used below...

Say you are a Delegate running a node and you need to make $10 per month forging to pay for your node costs.  Crypti is currently $0.004 each.  Let's say that when 0.2.0 launches the value of Crypti pops 2.5X to a penny each or $0.01 each.  As a node, to get your $10 you have to "clear" as your monthly fee cut $10/$0.01 = 1000 Crypti.   That's your take AFTER you pay a 10% "tax" to the Foundation.  In order for you to put 1000 XCR in your pocket every month you've got to take in as fees a total of 1111 Crypti, with 111 going to the Foundation and 1000 going to you.  This is true for all 101 delegates, so the total fees required to let ALL forgers break even at $10 per month is 1111 X 101 = 112,211 Crypti.  

Thus for a "breakeven month" with a $0.01 Crypti value 2.5X higher than at present, 101,000 Crypti  must be split by the 101 Delegates (who get $10 each) and the Foundation gets 11,211 Crypti worth $112.  

Initial forging fees are apparently going to be a tenth percent or 0.1%.   This means that for every 1000 Crypti processed as node traffic, the nodes pass 999 on to the recipient and keep 1 as a fee.  So for the nodes to take in 112,211 Crypti as fees, they've got to process 112,211 / 0.001 = 112.2M as Crypti traffic.

So for a Delegate to make "just" $10 in a month, the Crypti price has got to be 2.5X higher than it is now coupled with more than the entire total supply of Crypti changing hands every month.  

Note there are other combinations of these two value / traffic criteria that yield $10 per month per Delegate, but making one of them "somewhat more reasonable" makes the other one "even more unreasonable".   Thus another scenario is, if the monthly transaction traffic target is dropped to "only" 10M Crypti per month (a tenth of the total Crypti supply), then compensating a Delegate $10 per month requires a Crypti value of $0.112 each, or over X25 the current value.

These are kinda sobering numbers in my opinion.  A delegate had better be prepared to fund a node out of his own pocket for probably many months until either Crypti prices and/or transaction volumes ramp up VERY significantly.

<Insert standard MalReynolds rant about calling for volunteer Delegates to run cheap Crypti nodes funded out of their own pocket (which they gotta do anyway) and so enable zero fees / huge boost in Exchange value of retained Crypti holdings instead of tenth-percent fee / crummy $10 per month and probably much less forging profit>
1393  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 04:14:39 PM
Quote
1. Buy a cheap used laptop at EBay....  

It's much more easily Mal:

Step 1. Make usb bootable flash stick with Ubuntu Linux
Step 2. Boot into Ubuntu and do your operations
Step 3. Reboot into Windows  Cool

As long as you aren't planning on forging with your client, I certainly agree!
1394  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 03:30:45 PM
With such a short block time you can expect a dramatic blockchain file size increase after a month of operation.

Let's talk about DPoS Forging.  What has been the observed monthly upload / download transfer of data in MB required to run a DPoS node on your testnet?  What's the average number of bytes being added to a DPoS blockchain every ten seconds?  What's the minimum number of bytes added for a zero block in 0.2.0?

My point exactly.  I am trying to shine a light on this by asking for some observed numbers to be made public before we all start off on this grand 0.2.0 adventure.  My goal as always is to quantify the need for algorithms that support both (1) no zero transaction blocks being added and (2) automatic regeneration of a genesis block when the chain reaches a certain length.
1395  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 07, 2015, 02:11:21 PM
Let's talk about DPoS Forging.  What has been the observed monthly upload / download transfer of data in MB required to run a DPoS node on your testnet?  What's the average number of bytes being added to a DPoS blockchain every ten seconds?  What's the minimum number of bytes added for a zero block in 0.2.0?
1396  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 06, 2015, 07:17:48 PM
The Bter hot wallet is down to only 37K.  Have you got a contact at Bter that you can ask for a reload to keep the withdrawal of Crypti going? 
1397  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 06, 2015, 03:57:46 PM
Welcome to the hall of mirrors.  If you worry about this kind of thing, do a binge catchup session and join me in watching my second-favorite TV show:  http://www.fxnetworks.com/shows/the-americans/episodes

second favorite TV show? Let me guess at your #1 favorite TV show........... could it be FIREFLY ?    Grin Grin Grin

I am indeed a Browncoat forever.  My user name here was a natural when I became involved with Crypti and saw you had a lead dev named Syrenity.  Firefly (how can it possibly be more than a decade old now?) goes beyond being my favorite TV show into effectively being a personal creed.



My top current TV show is Better Call Saul, which has its season one finale tonight.  I can certainly empathize with a guy who is called a chimp with a machine gun.  

http://www.amctv.com/shows/better-call-saul

BCS is a worthy prequel to Breaking Bad, which is right up there with The Sopranos as a Shakespearian-level drama vying for Best TV Show Ever.  
1398  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 06, 2015, 02:48:18 PM
[The 10 min load time will only be for ppl who what to run a node. Meaning some one who either want to setup and run a delegate or someone who want to host a wallet for say a web wallet or exchange (yes there are a few other reasons). I think you misunderstand the necessity to run a node. In bitcoin (I don't bash other Crypto's this is just a comparison) if you want to put your coins in to a wallet that you own and control the keys for, you MUST download and sync the wallet. However in Crypti you can own and control your own keys with out ever downloading and synchronizing the wallet.

That's interesting. How does it work? If you login to a remote note and enter your private key to login; what prevents the owner of the node/webserver from recording your key?

If you log in from a public computer, or do not have anti-virus software running;  there is always the danger of a keylogger getting your password to Crypti and any other account you may have, banks, credit cards, porn sites, email, Facebook, etc.  

If you are in a public place and use a wifi or Bluetooth keyboard, the information typed on such a keyboard is not encrypted when sent to your I-Pad, and can be intercepted and used to steal your funds.

The Crypti passphrase is hashed before being sent over the web, so interception, while possible, is encrypted.  


To clarify, this means Crypti DOES have protection against WiFi / Bluetooth sniffing but DOES NOT have protection against keyloggers.  EVERY cryptocoin has this vulnerability and ALWAYS WILL.

If you have sizable amounts invested in ANY cryptocurrencies including Crypti, do yourself a favor:

1. Buy a cheap used laptop at EBay.  
2. Zero every single byte on its hard drive using a program from this list:  http://pcsupport.about.com/od/toolsofthetrade/tp/free-data-destruction-software.htm
3. Reinstall from scratch the operating system of your choice FROM A FACTORY ORIGINAL (NOT PIRATED!) CD OR A DOWNLOAD THAT IS MD5 HASH VERIFIED BEFORE INSTALLATION.
4. Go directly to the cryptocoin's website (and ONLY that website - DO NOT SURF THE NET AT ALL) and download the coin wallet program.
5. Use ONLY THIS LAPTOP for all future coin transactions.  
6. Use this laptop for NOTHING else.  Consider it your private, dedicated banking terminal.  FOR GOD'S SAKE DONT EVER USE IT TO SURF THE INTERNET.

As a cryptocoin user, keyloggers are your mortal enemy.  Isolate your cryptocoin activity to a zone where you have taken active measures to prevent keyloggers from ever being installed.  

Are you REALLY paranoid (like me)?  Consider using a virtual keyboard to enter your password:  https://www.raymond.cc/blog/how-to-beat-keyloggers-to-protect-your-identity/  None are perfect;  Oxynger KeyShield is probably best:  http://www.oxynger.com/download.html

But wait!  What if Oxynger has a secret keylogger installed in its software?  Or what if Awesome Password Generator sends emails straight to the NSA?

Welcome to the hall of mirrors.  If you worry about this kind of thing, do a binge catchup session and join me in watching my second-favorite TV show:  http://www.fxnetworks.com/shows/the-americans/episodes
1399  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 06, 2015, 04:43:16 AM
I gotta say I would rather see:

"IF YOU USE SIMPLE PASSWORDS, YOU WILL LOSE YOUR CRYPTI.

IF YOU LOSE YOUR PASSWORD, YOU WILL LOSE YOUR CRYPTI.

THESE TWO POINTS CANNOT BE STRESSED ENOUGH.

USE 35+ RANDOM ALPHANUMERIC CHARACTERS IN YOUR PASSWORD."


on the 0.2.0 password page instead of:

"For security reasons, please use long passphrases."

Heck, I'd put in a link to Awesome Password Generator there too.

I saw too many people lose their NXT in the early days and get turned off of the whole cryptocoin thing because this was not common knowledge or widely discussed.  Crypti will hopefully do much better in this area.  It's critical.
1400  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Crypti | XCR | Ͼ | PoS algorithm | Ed25519 | 2nd Gen Source on: April 06, 2015, 04:07:10 AM
Thanks, Mal!

So every account number is associated with a unique password and there are no duplicates through the Elliptic Curve. If I use a password to create an account offline and never register this account on the blockchian, I still can send money to this account. Is that becasue the system will record any receiving money transactions? This sounds like a cold wallet for me.

Say you are totally new to Crypti and want to buy some Crypti at the current $0.005 each from Poloniex.  You download the Crypti "wallet" software and run it.  It loads the blockchain and gives you a welcome screen where you can enter a password.  It downloaded the blockchain in case you have a Crypti account capable of forging and you want to do so.  But you don't own any Crypti yet so you can't forge yet even if you wanted to.  

So at this point you download Awesome Password Generator and come up with a strong 50 character password.  You type this  password in and the program spits out your new Crypti account number which ends with a C.   You write this account number down on a piece of paper and close the Crypti wallet software.   SO FAR NOTHING ASSOCIATED WITH THIS ACCOUNT NUMBER IS ON THE CRYPTI BLOCKCHAIN YET.  You go to Poloniex and buy some Crypti with Bitcoin you already own.   Next you tell Polonex you want to "withdraw" this Crypti you now own.  You give Polo your Crypti account number.  Polo contacts all operational Crypti forging nodes and instructs them to transfer ownership of the amount of Crypti you specified from their account number to your account number.  The forger does this.  NOW YOUR ACCOUNT NUMBER IS ON THE BLOCKCHAIN.  POLO AND A LUCKY FORGER WHO GOT THE FEES PUT IT THERE, NOT YOU.  

You can now go into the jungle for a few years to write your novel on an old manual typewriter, away from any distracting connection to the internet.  When you finally come back, you can fire up your old laptop, run the Crypti wallet software again, enter the password that you never lost, and transfer your Crypti back to the Polo Crypti account and sell it for its appreciated $1 each.   THIS IS THE FIRST TIME YOU EVER ACCESSED YOUR ACCOUNT NUMBER ON THE BLOCKCHAIN, WHICH HAS BEEN CARRIED ALONG ON THE BLOCKCHAIN WITHOUT ANY DIRECT INTERACTION BY YOU UNTIL NOW.

Is this a "cold wallet" or "cold storage"?  Depends on the definition, and everybody defines a "cold storage" differently.   Here's how Bitcoin defines "cold storage":

http://codinginmysleep.com/bitcoin-cold-storage-in-plain-english/

To oversimplify, the most common Bitcoin versions of "cold storage" takes a chunk of the blockchain associated with an account out of cyberspace and puts it on a physical artifact that you can secure with physical means like a safe or a safe deposit box.  There's no longer enough info left on the blockchain to allow the account to be accessed from cyberspace.  For you to get these "cold storage" bitcoins back, you have to "read" that chunk of the blockchain back into cyberspace from its physical storage.  

Brainwallet blockchains like NXT and Crypti cannot be "factored" into "chunks" that can be taken offline.  All their data is right there for the world to see in all their glory, every minute of every day.  This approach theoretically allows a whole bunch of cool but tricky new features that NXT and Crypti are working hard to implement.   It also means that the blockchain and ALL accounts are right there for the taking by any hacker that can figure out a password that accesses an account that has previously been loaded with coin.  

Bitcoin has the ability to implement "cold storage" via brainwallet techniques among other ways such as "paper wallets", "hardware code safes", etc.   Bitcoin generally no longer recommends using "brainwallet" techniques for their "cold storage" because of so many people losing their money.  See:

http://cointext.com/brain-wallet-thefts-increasing/
https://bitscan.com/bitnews/item/the-pros-and-cons-of-brainwallets

All of this is valid.  However, there are many advantages that brainwallets allow which Bitcoin will never see because of how it is structured - another reason Bitcoin is so willing to abandon brainwallets as a technique.  Basically, "offline storage" = "secrets"; "brainwallet" = "open source"....

Brainwallet tech is the foundation Crypti is based on.  It's the only security method Crypti has got.  And DONE CORRECTLY, IT IS VERY SECURE.  However, HUMAN ERROR CAN EASILY COMPROMISE BRAINWALLET SECURITY.

IF YOU USE SIMPLE PASSWORDS, YOU WILL LOSE YOUR CRYPTI.

IF YOU LOSE YOUR PASSWORD, YOU WILL LOSE YOUR CRYPTI.

THESE TWO POINTS CANNOT BE STRESSED ENOUGH.

So, bottom line, brainwallets are indeed a form of "cold storage".  They enable many cool capabilities that are going to be developed in the near future.  And they have got to be handled with care by their users at all times.

Crypti is serious money for serious people.


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