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Please, change the information about TREZOR. You have described TREZOR One which was released a few years ago. TREZOR is now shipping out the pre-orders of its the latest model T. Could you separate these two models? Entering PIN on TREZOR T is much easier because everything is done on device's touchscreen, no more complicated patterns. The same thing goes for passphrases and seed recovery/creation, you don't have to worry about keyloggers which is a huge advantage. I would be grateful if you could change that. If you need more information, feel free to ask!
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Investing without proper explanation and awareness of high potential risk is extremely irresponsible. Such situation should not happen. Even though, I try to encourage my friends and family to read about Bitcoin, I start with trying to educate them, not with forcing them to spend a few hundred on something they don't even understand. Do you think that they would understand that someone has just sold another six thousand BTC and that's one of the reasons why the market is panicking? I guess not.
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Also I would really like to see a video showing what the process is like for digitally signing a longish document on the trezor model t. Or does the model t still have a character limit on digitally signed text? As far as I can surmise, the ability to digitally sign a long document like a standard legal contract is the only real advantage over the original trezor. I would be willing to send a five dollar tip to anyone who makes this for me.
Also I would be interested to know If anyone has any other reasons why the model t is preferable to them over the original. Yes, I am searching for a reason to buy a new toy!
I received my TREZOR T yesterday ( thread). I can do this for you, please PM me an example document if you have one. I still haven't set up GPG for my TREZOR but it will be a good chance to do so  Does anyone know if there is any way to build custom transactions? I want to control exactly which addresses are used as inputs and I want to control what address the change is going to. Mostly though, the change address is the important part, so that I don't inadvertently link my addresses together.
TREZOR does not support coin control, yet. As far as I know from their Telegram and Reddit, it is a planned feature. Right now, you can control your coins using Electrum. If you don't want to link your identities, you should use different accounts. Also typing it on the screen is probably less secure. Easier for someone to see where you are placing your thumbs. Or does it scramble it on there too?
Using built-in screen is much more secure because you type everything (passphrase, PIN, seed words) on the device itself, keyloggers can't do any harm. PIN scrambles every time you power on the device. Who use their hardware wallet in a public place anyway? With modell T you can type the passphrase on the trezor touchscreen instead on the computer keyboard.
Actually, TREZOR asks you whether you want to type it on the device's screen or on host's. I can post a photo with that screen if you want. If anyone has any questions regarding TREZOR model T, please visit my thread since I will be checking it more often. |
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Does anyone here pre-ordered the latest TREZOR T? My device was sent yesterday and it took less than 24 hours for DHL to deliver it to me. Everything works quite well, I didn't have any problems with setting up the device. I didn't have any chance to send a transaction, yet. If you have any questions regarding TREZOR T, feel free to ask me! I will try to respond to every question.  |
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IMO for bitcoin to be mass adopted and be appealing to the average people, strong but not atiff regulations should be imposed in orther for them to gain confidence in using or storing bitcoin. Out of all the people I asked, especially friends and colleagues, one of the main reasons why they are scared to get in to crypto is because there are no safety nets in case bitcoin stumbles, and government intervention and authority over crypto is what they feel would work out as a net, though that wouldn't save them from a failed investment.
That's interesting. I have also asked a few friends about Bitcoin and it turned out that they believe that using Bitcoin is quite complicated. I guess they wouldn't have any problems with using a web wallet but I don't think that Electrum or other wallets are difficult to understand. Most of them now have newbie friendly interface and descriptions. They will eventually have to learn how to use them. |
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I trust hardware wallets less and less. They keep overcomplicating things. Now they added some screen in there and complexity always brings up more exploits, which is why ideally you want things to not even have a GUI.
I predict that sooner or later we are going to see some fatal flaw in one of these devices. I will stick to good old rustic linux laptop.
There is no perfect solution. Someone will eventually discover a bug in the code of your operating system which could be harmful. How does touchscreen in the latest TREZOR device is easier to exploit? I'm not a specialist so that's why I wanted to ask you this question. If you find new hardware wallets too complex, you can still buy older models because they are still manufactured or available in someone's warehouse. |
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What is BTH? If you mean bitcoincash then yes it will always be better. Not because of the technology, a lot of coins are better than bitcoin in that sense, even ethereum is better, but because it is the core coin that will be widely accepted by everyone in the future. Always stick to bitcoin, not the forks!
And how is Ethereum better than Bitcoin? Are you aware that Ethereum was mostly designed for smartcontracts and tokens? Ethereum can't handle all the trafic when a huge ICO starts to send out their tokens. The same thing happened when CryptoKittens became extremely popular. Why do you think that Bitcoin Cash is better? It has nothing to offer for now - transaction fees for both BTC and BCH are now low. Bitcoin has SegWit and Lightning Network (WIP), Bitcoin Cash has 8 MB blocksize which will have to be increased in the future as soon as there is no space. |
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Could you tell what are it's benefits over using p2sh-segwit?
Should we expect that bech32 will become the main format of addresses in future?
New bech32 format is technically a native SegWit, using it would decrease the transaction size which would lead to lower transaction fees [1]. However, not every wallet supports bech32 format, yet, so I think you should stick to Nested (P2SH-P2WPKH) for some time. Although, it would be nice to be able to receive mixed coins to bech32 address. Feel free to PM when you will decide to implement it. [1] - https://bitcoin.stackexchange.com/questions/65856/how-do-bech32-addresses-compare-to-p2sh-addresses-in-transaction-size |
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Thanks for helping Lightning Network to become more usable! What a pity that you only deliver in San Francisco, I would definitely try you service if lived there. Please, let us know after some time if you had any problems with accepting Lightning Network payments e.g. randomly closed channels etc. Could you tell us to which or how many nodes you are connected to?
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I have been using HitBTC for quite a long time and I had no problems. I stopped trading sometime ago so I can't really tell you if there are any problems with trading. However, I'm dissatisfied with their service. Exchange works slow for me, they have high withdrawal fee and even a deposit fee! It's ridiculous, Bitcoin transaction fees became low and stable, and it seems that HitBTC and Bittrex are not going to change their fees anytime soon.
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Hello BitWhisk.io team, Thanks for introducing SegWit! It might help with making your service popular after you officialy announce it. Since you upgraded to the latest Bitcoin Core, could you tell me if you can send to Bech32 addresses? I would be glad to test your service again after improvements. Link to my review: https://bitcointalk.org/index.php?topic=2967907.msg31295397#msg31295397 |
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Is this a mandatory update or can be also done later, at any time?
This is an important security and feature update. It seems that Ledger servers are extremely overloaded due to many people updating their devices. I would recommend you to update your device because found vulnerability has been fixed. This update will be mandatory starting from the 20th March Ledger don't want to share any details. Check the link below for more information. https://www.reddit.com/r/ledgerwallet/comments/82fndi/psa_dont_panic_but_assume_the_device_is/dv9wnlb/ |
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I have used Ledger Nano S for quite a long time but I decided to sell due to some technical problems and their Secure Element started to bother me. Security by obscurity is not necessarily the best idea. Even though, I can't read most of TREZOR's firmware code, I trust people in the industry who had checked the code to see whether or not there are any backdoors or simple security holes. And the thing that worries me a tad are all of the yet to be discovered issues waiting to be uncovered, not the existing integrity of their setups. Nothing is 100% and eternally foolproof. If there's some complexity it's likely there's something in there waiting to be exploited that hasn't been accounted for.
What do you think is better? Less chances for critical vulnerability to exist and nobody can check the code to detect it or being able to see the code and eventually discover the vulnerability after some time. |
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Creating a new wallet will ensure that everything goes without any problems. You don't want your transaction to be replayed on the other chain. You should be fine with reusing the same wallet after you claim your forked coins, as long as you don't use some shady software from "Bitcoin Emerald Cash development team". You should be totally fine with claiming the most popular hard-forks such as Bitcoin Cash and Bitcoin Gold. These days transactions are really cheap so it shouldn't be a big problem for you.
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It is going to be a light weight wallet. So most probably this is going to be a 'centralised' solution.
Every light weight client relys on an infrastructure to retreive information about the status of transactions, etc.. If thats what you understand with 'centralised'.
Core is the only (independent) full node client. Any other desktop/mobile/HW wallet is a lightweight client.
For a completely independent setup you need to have full nodes (with whole blockchain) running. For each coin you hold.
TREZOR allows you to use your own node in their custom wallet. You can use both Ledger and TREZOR with Electrum which also allows you to use your own node (not to mention better coin control). Is there anything wrong with running, for example, Electrum node and connecting to it using Electrum client and a hardware wallet? Running a full node for each altcoin is extremely costly. That's why many people choose lightweight wallets. What a shame that they still use web wallets which usually don't give your private key or seed. |
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I have recently helped a guy who sent his BTC to BCH address. I never used ArcBit so I don't know whether or not you have your seed or private keys. If you do, it will be fairly easy to recover your Bitcoin Cash coins as long as you haven't sent it to a SegWit address (starting with 3 or bc1). Follow my instructions from the link below. If you have any questions, feel free to ask us. https://bitcointalk.org/index.php?topic=3058983.msg31509441#msg31509441 |
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Whether it will reach 2 milion or not is up for debate but I can tell you with absolute certainty it will never reach zero. You have currencies that are over hundreds of years old that are not worthless because they provide some sentimental value and historical value. For that reason it won't ever become 0 and if you only have 10% in BTC you seriously have not done enough research imho.
That's an interesting statement but do you really think that there are going to be any people who would like "just a number" in their collection? Well, maybe digital natives would find it actually worth something, current generation would probably prefer owning an old coin or bill. However, I agree that Bitcoin won't be worthless in the future, there will be always (or at least for the next few decades) a few people who will trade Bitcoin between themselves. |
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Your fees are understandable, if adoption comes too soon then so many people will make mistakes and lose money and that could change the overall perception of bitcoin. Adoption ideally needs to increase a steady and manageable rate and people need to enter because they hear about how good the technology is instead of because they want to make money.
Designing such leaflets and having free classes and such are the things that are going to need to happen. If you think about the adoption of the Internet, the bitcoin community is going to have to learn from those examples.
I find 5% to be quite a lot but I guess for such a service it's somewhat reasonable, most exchanges are charging even around 2%. I think overall the fees involved are much too high. It would be nice to one day see a decentralized peer to peer exchange for bitcoin to fiat.
You have to keep in mind that using Bitcoin ATM and buying Bitcoin with cash is much more anonymous than using your credit card or buying it using a wire transfer to the exchange. I guess that decentralized cryptocurrencies exchanges have to become more popular before we will see decentralized crypto <-> fiat trading. Let's hope that the vast majority of people who will join crypto community in the future, will do proper research. |
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I always have mixed feelings about the mass adoption of bitcoin. It's a really good thing from one side, that a lot of people can get involved in the cryptocurrency ecosystem but on the other hand it's a risk for them (and for bitcoin) too. I don't know what will happen if people without enough education about bitcoin will buy their first bitcoins. There should be something where people can find information about bitcoin easily and in an understandable form. Also, if bitcoin will become the part of the common talk, it will help a lot to avoid unnecessary losses and to help the newbies to deal with their investment.
Bitcoin ATMs are quite popular in my country. A few people designed a small leaflet which contained the most important information about Bitcoin e.g. being decentralized, limited supply, being able to store it on your own and explanation what cryptocurrency is. I have seen a couple of them next to the ATMs I mentioned before. 5% isn't a lot, I have seen machines which were selling Bitcoin for a 3% fee but there weren't many in my country. However, their number is slowly growing. Has anyone who lives in Australia tested this service? |
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