I will crosspost this from the Aeon thread as I think it has applicability to Monero too:
I was honestly trying to wait for a GUI as the only secure computers I have are little Celeron weenies (which I'm not sure will run a full cryptonote client). Command lines stress me out, especially third party tools like simplewallet - there's nothing like the relative security of knowing that you have a Linux computer that has only ever accessed the exchange once, and that was to withdraw to a GUI wallet (what I did back in the Dogecoin days). I know the lack of a GUI helps keep out n00bs in these cryptonote projects, but you also create the counter-risk of having half-peasants like me feel like an exchange is the most secure place for their funds, lest they accidentally send them off into space or lose private keys by sudo-sumo-copying something wrong from a Linux command line.
There are lots of n00bs now getting into Cryptonote and the lack of GUIs is becoming more and more of a hurdle every day - I have introduced several people even less tech savvy than myself to these cryptos in the past months, but these are people who are delighted and excited by trading Bitcoin on an exchange for the first time - but the concept of creating a Monero or Aeon cold address and sending funds to it on a Linux distro would be 'rocket science' for them and utterly outside of their skill set, even with significant support. Indeed we have now created a scenario that instead of protecting n00bs actually gives them just enough rope to hang themselves.
The likelihood of another Gox or Cryptsy is significant, no matter how trustworthy or professional the exchange seems. I had hoped the GUI could be an effective bridge in this regard, but I am getting the vibe that proper GUIs might be months away for these projects, forcing me to consider other options.
There is already a GUI I am using it working fine. You still should run a local Monero node but can use the LightWallet2 GUI. If you are using Windows download Monero client at https://getmonero.org/downloads/ unzip to a folder on your desktop. Run bitmonerod until the blockchain is synched. You will also need to download LightWallet2 at https://getmonero.org/getting-started/choose. Download the LightWallet.exe and put in your Monero folder. While bitmonerod is running in a command console and synced messsage shows start up Lightwallet by clicking on the exe in your Monero folder and follow instructions. Now you have the privacy of a local Monero node with a GUI to send and receive Monero. So that's your answer: download the blockchain and run a full node. Sir, did you not see the word "n00b" that American Pegasus typed with his hot little fingers? Don't you realize that the vast majority of people have no idea of even how to approach such a task? It is foreign to all but a tiny subset of the population. You, monsieur, occupy a very small nerd-world. If you would take the time to read the LightWallet GUI repo at Github you would discover that you do not need to download and run a full Monero node. Lightwallet default setting is to use Atrides open node at http://node.moneroclub.com:8880, but you can change the node it uses to a local node during setup or at any launch; to use a local bitmonerod instance set it as http://localhost:18081. LightWallet2 allows you to run Monero as a lightweight wallet. All the instructions you need are at the GitHub repo. Even a noob should be able to follow the instructions, if not ask in channel for advice. Those who want maximum privacy will still want to run their own full node. The choice is yours. |
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I will crosspost this from the Aeon thread as I think it has applicability to Monero too:
I was honestly trying to wait for a GUI as the only secure computers I have are little Celeron weenies (which I'm not sure will run a full cryptonote client). Command lines stress me out, especially third party tools like simplewallet - there's nothing like the relative security of knowing that you have a Linux computer that has only ever accessed the exchange once, and that was to withdraw to a GUI wallet (what I did back in the Dogecoin days). I know the lack of a GUI helps keep out n00bs in these cryptonote projects, but you also create the counter-risk of having half-peasants like me feel like an exchange is the most secure place for their funds, lest they accidentally send them off into space or lose private keys by sudo-sumo-copying something wrong from a Linux command line.
There are lots of n00bs now getting into Cryptonote and the lack of GUIs is becoming more and more of a hurdle every day - I have introduced several people even less tech savvy than myself to these cryptos in the past months, but these are people who are delighted and excited by trading Bitcoin on an exchange for the first time - but the concept of creating a Monero or Aeon cold address and sending funds to it on a Linux distro would be 'rocket science' for them and utterly outside of their skill set, even with significant support. Indeed we have now created a scenario that instead of protecting n00bs actually gives them just enough rope to hang themselves.
The likelihood of another Gox or Cryptsy is significant, no matter how trustworthy or professional the exchange seems. I had hoped the GUI could be an effective bridge in this regard, but I am getting the vibe that proper GUIs might be months away for these projects, forcing me to consider other options.
There is already a GUI I am using it working fine. You still should run a local Monero node but can use the LightWallet2 GUI. If you are using Windows download Monero client at https://getmonero.org/downloads/ unzip to a folder on your desktop. Run bitmonerod until the blockchain is synched. You will also need to download LightWallet2 at https://getmonero.org/getting-started/choose. Download the LightWallet.exe and put in your Monero folder. While bitmonerod is running in a command console and synced messsage shows start up Lightwallet by clicking on the exe in your Monero folder and follow instructions. Now you have the privacy of a local Monero node with a GUI to send and receive Monero. |
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Thanks for this, had not seen those comments before. Somewhat new to Monero so catching up. |
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Can we do betting with coinbase ?
Not a good idea. Gambling is against Coinbase terms of service. Coinbase can determine if you are sending bitcoin to or receiving from a gambling site and you will get your account locked. If you want to use bitcoin you bought at Coinbase at a gambling site you will have to use a mixing service to anonymize your coins and send to a desktop wallet you only use for gambling. Same for cashing out. You set up a separate desktop wallet for clean coins. Send coins from your gambling wallet to a mixer then to your desktop wallet for clean coins. You can then send from your clean wallet to Coinbase to convert to fiat. Do a little searching on reddit for more info or read my guide to anonymizing bitcoin. |
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I thought to gamble in directbet you need a wallet that does not have the transaction fee. because you have to send bitcoin. for each bet. and it could have spent a lot of satoshi
Above quote clearly describes the requirement in a wallet on using directbet. Often we are in need to transfer bitcoin. So lowest fee on transaction is needed. which wallet offers lowest transaction fee ? You can set the transaction fee manually in any desktop wallet AFAIK. |
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I have never seen a used or new in box aluminum cased Trezor for sale on any forum, so it is a seller's market for sure. As far as I can determine the only production run was for about two hundred units.
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Doesn't this service violate PayPal terms of service? Don't want to get your PayPal account locked.
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How exactly does Mycelium backup work? You get 12 English words as backup key for your wallet. What is mechanism behind this? Where are private keys kept? How are they secured? How are they retrieved with 12 words?
Try this link https://www.reddit.com/r/Bitcoin/comments/2ik8jq/mycelium_bitcoin_wallet_20_hd_is_out/Remember your private keys are kept on your phone and could be compromised. For ultimate security use Mycelium with a Trezor, that way your private keys are in the Trezor immune to malware. |
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Both Electrum and Multibit HD support Trezor but if you have passphrase protected wallets they will only show up in Electrum, not Multibit HD. Something to consider. Also Mycelium on Android shows all Trezor passphrase protected wallets .
So if you have a Trezor and want all the features of myTrezor.com on another wallet use Electrum or Mycelium.
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Compared to the other crypto currencies Rimbit ( http://www.rimbit.com/) is premined. That's actually a very good thing since we are not dependent on expensive hardware running the mining process. Bitcoins are mined by very expensive hardware now since the "mathematical problem" to solve is increasing in difficulty every 10 min. This expensive hardware (just google the prices!) will bring Bitcoin to an end withing the next 1-3 years. It simply is not profitable to have the hardware running anymore. Rimbit blockchains are validated by the wallets. It doesn't require expensive hardware and governments, banks etc. can never stop personal computers from running the validation. I think within a few years Rimbits will be the leading crypto currency. Carsten With a premine the devs will certainly get rich if Rimbit should take off. But chances of a new alt succeeding in this crowded market are zilch. |
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it will all come down to how much time you can and are willing to spend for it.
doing it half assed is not gonna get you anywhere, i think you have to dedicate serious time to searching for the perfect chances every day. and that is hard.
Red-Apple is spot on. Research takes an enormous amount of time. I think you would be happier joining a good paid trading group like the one run by klee here on the forum, see his thread for details. |
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Hello all. I have a personal stash of around 70btc.
What is better risk/reward wise, trading btc itself, or investing and trading in alts.
I ask this because i'm a noob trader and missed the recent ETH price surge.
Most new traders lose their risk money and quit. It takes a lot of time to find the alts that are breaking out and are decent trades. You can find a mentor to teach you, read the classic books on trading, or join a trading group run by an expert trader who shares buy and sell signals with members of the group. You also learn trading more quickly from reading comments by seasoned traders. There are some altcoins right now that are very tradeable. I can recommend the trading service run by klee here on the forum, see his thread for details. If you were in the trading group you would not have missed out on the recent gains in Monero and Ether for example. |
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Ms. Vranova has already said in an interview there will be no more metallic Trezors. The ones that sold yesterday were made from last 20 cases remaining from the initial production run. That is why collectors were willing to pay $999. If there was a chance that Trezor would resume production of metal cases collectors would not have bought those twenty in less than a day. |
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Hey there every1 i wanna know how can i safely store 6.xx bitcoins of mine? Please don't recommend hardware wallet as they are waste of money as i ak sure there are some other safe bitcoin wallets.I want a wallet that is independent means even if some service shuts down i still have control of my bitcoins.Is blockchain.info wallet safe? As they say they always get our password in encrypted form.is that really true?is there service shuts down will i still have control over it?Please help me friends how can i backup my wallet and store it in say usb drive and store it somewhere safe.is that possible? or any other best bitcoin wallet? and yet don't recommend desktop wallets which can easily be affected by malware
All you need is a $20 Ledger HW.1 hardware wallet but you seem too hard headed to take advice from members who have more experience than yourself. Hardware wallets are never a waste of money. Bitcoin stealing malware is becoming more common and stopped cold by hardware wallets. |
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Why should we use your service instead of Namecheap.com which have a big reputation and used by millions of users and accept Bitcoin as-well and ... cheaper
ANONYMOUS registration. Do you know what tis means?  ?? You bet, and my review of anonymous website hosting lists less expensive options. It is hard for a prospective customer to take you seriously without a website and a track record of good customer service. |
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Monero. Just accepted as a partner with Azure. Completely anonymous and scalable. Just had a hard fork that went smoothly. Chart looks good too. Altcoins have hard forks no problem, but the sky will fall if bitcoin does one?  |
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What is the minimum amount to start as a trader?
Nothing. You should make trades on paper for a month or so to prove to yourself that you have some skill at trading before you put bitcoin at risk. If you cannot make money on paper with no stress you sure as hell will not be able to do it when you have bitcoin at risk. When you make a trade decide how much you are willing to lose if the market goes against you and set a sell stop. Every trader has losses, the key is to keep them small and let your winners ride. |
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wow this conversation is really picking up! this info about locked account is not about any online wallet, but about bitcointalk account problems. yes i do understand that; i was thinking of associating a btc address with my bct username thought it would be better to have that address on a desktop wallet. essentially it only started me thinking of being more serious about my credentials and assets in crypto world! @Amph & @maku sure i'll look up the bitcoin core prune mode but if i cant sign messages in it, wouldn't it be a serious limitation? I might be a bit off-topic here, but I figured I would just ask.... Why go for a desktop wallet? Would it not be better to go for a hardware wallet like Trezor instead? I feel that is our best bet, other than cold storage at the moment. I do not know of even one Trezor that was compromised since it started.. The cost is relatively low, if you consider the security it gives you. The free options always come at a cost, so I would much rather invest in something solid.  I know the question is for the thread starter to answer but I would also like to answer it - don't mind me  . I'd like to get a hardware wallet (especially Trezor) too because of the security issues people talked about. However the problem is that it is expensive. Well, how one define 'expensive' and 'cheap' is different from person to person. I think that as long as we take the precaution to protect our wallets, there is no need for a hardware wallet. Unless one is running a big Bitcoin/crypto related business, a softwallet (but not browser based) would be good enough. I will still purchase a hardware wallet when I am not in a tight budget though since there will be less worries. :p. sure a hardware wallet would be a very secure option; i'll definitely consider it when i have a ton of coins that are a major portion of my assets; for now its a bit too expensive for my taste! $100 plus god knows the cost of shipping it to Iran! i cloud get a decent card to add to my gpu mining rig for that price! thatnks everyone for your posts and great inputs, really much appreciated  since there's been so many replies here, in just a few hours, i was thinking of changing the subject of the thread making this a discussion of all the different OSX desktop wallets. what do you think? should we go for that? AFAIK the only hardware wallet shipping now that works on iOS at present is BitLox. CoolWallet does also but they are sold out. |
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Need a Gui wallet Is the Light wallet safe, because i donīt trust MyMonero? Thx I have had no problems with LightWallet2 make sure to save your 25 word seed when you setup. |
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I get tired of repeating myself but if you have more than a few bitcoin the private keys should be in a hardware wallet of your choice. I like Trezor more than the other options but if you are on a budget you can get a Ledger HW.1 for less than $20. Sure you can do cold storage with Armory or Electrum using two computers but that is such a pain. It does not look like Armory will add Trezor support any time soon. Trezor dev mentioned in this thread on reddit that soon Bitpay Bitcore full node will support Trezor. If you do not want to run your own Bitcore full node (will need a laptop running Linux) there will be an option in myTrezor.com to connect to public Bitcore servers like localbitcoinschain.com, insight.bitpay.com or blockexplorer.com instead of SatoshiLabs servers. |
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