Well apart from the fact that Google is now banning advertisements, which Facebook already did, less and less people are using it, transactions are going down steadily, the number of shops accepting it decreases, governments are banning it (China, Indonesia, Ecuador, Bolivia, Algeria, Nepal, Bangladesh, Cambodia, Vietnam, Macedonia) or heavily regulating it (most others, last being USA), energy consumption is becoming a real problem and that the maximum amount of transactions is stuck at 14/second, it doesn't scale and that SWIFT said blockchain is currently not usable as payment system ? Hmm.... Not sure if I missed something.
These countries (beside China) should worry about the state of their economy, not about Bitcoin which was one of the best choice for their citizens. I agree with you that the current maximum amount of transactions is not enough. That's why I said that it would be the best for Bitcoin to stay at this price point. Lightning Network developers would have more time to polish their software and make sure that it doesn't have any bugs. I don't see anything wrong in banning crypto-related advertisements. Most of them were scams or cloud mining services anyway. |
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Is there any reason for Bitcoin price to continue going down beside Mt.Gox selling out what he managed to hord? I don't really think so. Lately, there weren't any huge events around Bitcoin. There is no need for an another hard fork. Transactions are really cheap, even 1 satoshi per byte. I don't think that Bitcoin will go under 7 thousand dollars again but it also won't increase unless something that could bring investors attention happens. It would be better for Bitcoin to stay like this, Lightning Network developers won't have to rush.
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Hello BitWhisk.io team,
I would be glad to test your service once again. I was the person who proposed implementing support of bech32 addresses. If possible, I would like to test it using my native SegWit address.
bc1q038eelakz9xm2d8kuy8gx9fuy0t547ncqlnc56
You are improving your service really fast, keep going!
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So does anyone know how many were made for preorder of the model t and if when they will they be releasing the next batch and how many are in that bunch?
There were 4 pre-order batches. Every of them had a different price and amount of available devices. As far as I remember it was: Batch 1: 1000, Batch 2: 2000, Batch 3: 3000, Batch 4: 4000. We can assume that there were more than 10 thousand devices (developers, review samples and a few replacement ones). Pre-orders were available for a long time. Batches number 1 and 2 were sold out at the first day. Batch 4 was available for at least a week. So far, they said that Q2 2018 seems to be the date of the next batch. We don't know how many devices or going to be in it. |
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I have sent two transactions yesterday and I had no problem with high fees. I set 1 sat/b fee for both of these transactions. The first one was confirmed immediately after I sent it, it looks like I was extremely lucky. The other payment got confirmed after a few more blocks, even though my TREZOR predicted that it would take about 8 hours for them to confirm (although we all know that these predictions are never accurate). I have just checked https://coinb.in/#fees and it looks like you are right. Let's hope it's only temporary growth. |
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Thank you very much for the information. I was waiting for this update. Electrum would hang during the process of detecting TREZOR T, now it works great. Do we have any videos of SD-card slot actually being used for something in these phase or is that option just to be future proof for some new coins?
Right now, SD card slot is only used for updating the bootloader. SD card could be used for locally saving labels (right now this stuff is being encrypted on your Dropbox account) and Lightning Network information about your opened channels etc. TREZOR also plans to implement storage which would be encrypted with your private key. However, it will take them some time to release this feature. Let's hope it won't be as "futureproof" as Bluetooth in Ledger Blue which was discontinued. |
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Most people will indeed experience 3+ days synchronization, for me I think it was less. But I don't use this setup because it's portable, but rather because it's reliability. Don't get my wrong, hardware wallet are a very good choice as a wallet, but I prefer to do it myself and also to contribute to decentralization.
I understand your point of view. I was also thinking of setting up a node which would run 24/7, but I'm still not sure whether do it at home or rent a dedicated server for it. Also, you can mix both full node and hardware wallet. TREZOR, for example, allows you to use Insight which you can setup on your own machine. The same thing goes for Electrum, it's great that we have so many options to choose from. |
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You're right, although HDD space has become relatively cheap lately. But I believe Electrum also offers the same functionality (offline signer) without the need for a full node, I just prefer Armory. I'm lucky to have my full node running at my parents home with 300Mbps internet. Maybe I'm just a little too paranoid.
Using HDD and a full node setup has also some disadvantages. Almost everyone here experienced the pain of 3 days long synchronization, hardware wallets are ready to go once you plug them into your computer. HDD setup is less portable, it takes some time for a full node to start and then check if there were any new block found. Usually, full nodes run 24/7 but my point is that you are not able to use them instantly on the go. There is nothing wrong with being too careful. |
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I've already seen people moaning about the Trezor T. I wonder whether there's any balance between new bells and whistles weakening security. I really hope they're not compromising on anything to look more futuristic to their customers. I'll assume they know what they're doing.
I received my TREZOR T a few days ago and I didn't have any problems with it. However, I heard that some people had problem with installing their bridge which is needed for communication between TREZOR and their website. A few first devices were also shipped with outdated bootloader, but it is fairly easy to update it, it took me about 5 minutes. There are only a few thousand of TREZOR T devices, I was aware of potential problems while I was ordering the pre-order. Also, it is worth mentioning that they had to write its software from the scratch. They still have plenty of time before they start regular sale (expected Q2 2018). |
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Alternatively, you could leave the alts alone and learn about Bitcoin.
Bitcoin has become such a sophisticated system, that it is worth serious investigation as the unique product that it has become.
Most people became interested in Bitcoin not because they believe that it has a chance to become much more widely used in the future, but because they think that they still can become millionaires thanks to it. If you were them, you wouldn't bother with understanding something that would take them a lot of time to study. I have to admit that merit system motivated me to read more "serious" sections and try to help others. Even though, merit system was introduced week before I was supposed to rank up to Full Member, I was not complaining at all. In fact, now I'm thankful to whoever came up with this idea (can't remember if it was Theymos). We can't prevent some things from happening e.g. selling merit, but it should be less common in the next months. |
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I agree with the ideia of the hardware wallet is just a gadget with a tag of "there is bitcoins", but talking about the security of the hardware i think the worst problem are not the external attacks of hackers breaking the firmware and stoling the bitcoin, I think the problem is with the trust of the companies which sell these wallets, most of the avaliable wallets in the market are not open-hardware and doesnt have the firmware open for the public, there is only apps which the public can help to develop.
Technically, the same thing could happen to your trusted software such as Armory, Electrum or Bitcoin Core. Not so long time ago, there was a critical vulnerability in Electrum which allowed to steal your wallet using JavaScript. It shouldn't be a problem on air-gapped laptop but still there are probably more bugs that we do not know about. Furthermore, hardware wallets are not just generic storage devices, so a computer infected with malware can't read or write arbitrary data to a hardware wallet as it would with any normal storage device.
I'm quite interested how TREZOR will handle it. TREZOR T has a micro SD card slot which could be used for something malicious. Right now, it is only used for updating the bootloader at startup. Encrypted storage was also mentioned but I guess it will be separated from the rest of software and hardware. |
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The number of transactions depends on the number of opened channels and their capacity. There is a limit of maximum amount you can send, about 0.04 BTC.
The information you quoted is true, that's why some people don't think that Lightning Network will succeed - you will have to use HUB or setup your own node, which would need to run 24/7, in case you would like to make sure that nobody steals your money.
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For now, i think the priority is think about the adoption of the segwit address, because the change to segwit address is simple if we compare with the implementation of the lightning network, which needs the cration of hubs, a server 24h to monitore the contracts etc
There is no reason to wait for SegWit to become more popular. In fact, thanks to the Bitcoin Core 0.16 update and some exchanges starting to finally support SegWit, its adaption rate has risen. Actually, Lightning Network is working right now but you might lose your money and you have to use clients which are still not read for production environment. Also, there aren't many services which accept LN payments. The only one I know is TorGuard. |
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GPG is cool too but what about just a Secp256k1 signature like the original trezor does? You know, on the "sign and verify" tab of wallet.trezor.io? Oh, I thought you were talking about GPG all the time, my bad. Touchscreen works great, I don't have to use a lot of pressure - it feels just like a smartphone. On the video you might notice some black lines, this issue has been already reported here. My hand was shaking a bit, I'm not used to recording using only one hand. Before making this video, I have changed my PIN and decided to use different passphrase. It was difficult for me to type in a passphrase because I usually hold the device in my hand, it is much more comfortable. Youtube link: https://www.youtube.com/watch?v=iuhDUj4JqGk&feature=youtu.be |
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As OmegaStarScream is saying,Ledger is working on solution for this "problem" and instead of Chrome apps we should have desktop app with interface that will show all coins we have.By that time you just need to use Chrome app and open/close Ledger Bitcoin Wallet app for every coin.But this is not such big problem and it takes just few second to swich from one coin to other.
Be sure to update firmware to 1.4.1 version which will let you to add up to 18 coins to your Ledger Nano S,instead 3-4 what has been the case so far.
Last year, Ledger claimed that they would release a new app by the end of 2017. Let's hope that there won't be any delays, again. I doubt that anyone will actually have 18 apps at the same time since they optimized their libraries in order to shorten the apps code due to similar signature code as stated in their 1.4.1 update F.A.Q. Once you install Bitcoin, Ethereum, U2F, there won't be much space left. A lot of people have been complaining that this update broke their devices so they had to reinstall the firmware using special instructions. Anyone here experienced similar problem? |
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I would never suggest to store private keys (or any other sensitive information) online. [...]
My advice would be to keep all of your private keys offline.
As far as I know, they are working on a new version of their password manager. I can't really tell where but I read that they wanted to make their password manager work with SD Card slot in their TREZOR T. It's a bit more secure than depending on TREZOR's servers. Why do they want to produce a new device when you can use those that other manufacturers produce? After all, all functionality is in the software. Even if I am wrong and their device will be created, our concept of using already proven and existing equipment, optimizing costs and functionality will make us sell the wallet for the "ordinary man" while they are only for the chosen ones waiting in the long queue for their wallet.
Not related to the topic. Anyway, TREZOR T has different software inside which aim is to help developers add new altcoins. Unfortunately, even good software won't do much without a good, reliable hardware. Now you don't have to type in anything on your computer, seed, passphrase, PIN are entered directly on the device's screen, you don't have to worry about keyloggers. There's also a SD Card slot which I mentioned earlier, right now it is only used for upgrading the bootloader. |
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Hm. I guess I'm a bit interested in your appraisal of how the touch screen feels when you use it. Is it responsive? Is it too responsive? Does it ever fail to receive intended commands, go off when you didn't intend to, or on buttons you didn't intend to push? Stuff like that.
Unfortunately, it seems that there is an issue with communication between TREZOR device and software. Wallet created by TREZOR works great but both Electrum and trezor-agent, which I need to use GPG, don't detect my wallet. We have to wait for someone to check the code and tell us whether it's a TREZOR or a software fault. Does anyone here also can't use Electrum? It just hangs after choosing to scan for any hardware wallet. I am almost certain that this screen will be one more point of possible failures, also it's more pricey than the old screen.
I have ordered T model instead of regular one because of newer hardware and SD-card slot that could be the main reason why this model will probably be able to hold many more wallets when they become supported.
The device is really convenient but as you mentioned there might be some problems with the touchscreen. So far, I have seen only one report where user was able to type but holding, which is needed for example to confirm sending transaction or wiping the device, wouldn't work. By the way, did you get your device? Which batch were you in? |
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Here you go. [...]
Thanks, I'll try to make a video for you tomorrow. Where do you want me to upload the video? Are you okay with Youtube? Is there anything else you would like to see? It will be much easier to include everything in one video. |
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Yes you are right Sir. But what I have discussed to Trezor is some of its advantages and disadvantages. I didn't include the features and other improvements of the latest Trezor because I thought its unnecessary since I'm just giving some basic and main information about the wallets I provided. My main goal is to atleast give people some ideas about different wallets and its pros and cons. I think the improvements and new features of each wallet is unnecessary. But still, Thank you for your information Sir. People who read this thread will also find your post helpful.
Well, I thought it might be worth mentioning since you wrote "Ledger Nano S" instead of just "Ledger". There was also Ledger Blue but it was discontinued. I still think that it would be a good idea to add this model since it "fixes" the disadvantages of the previous model, but it's up to you. You should also try formatting the whole text, it will look better. Try to bold some of the most important information such as software and hardware wallets definition. |
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