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In its current state bitcoin is completely unsuitable for everyday payments. The capacity is low, transactions are slow and fees are very high. Waiting for half an hour and paying $5 commission to buy a cup of coffee or even an online game? I have my credit card, thank you. And I prefer to consider bitcoin as an investment. A sort of 'digital gold', much more convenient that gold bullion, however.
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Yes, the fees are high. I've transferred some of my coins to new addresses and payed a few $ for a simple (one input, one output) transaction. It does not seem high when one is transferring large amounts equivalent to thousands of $ or more, but for day-to-day transactions it's absolutely unacceptable. The original idea of bitcoin used for habitual payments is long dead. Bitcoin now is a sort of 'digital gold', and paying with BTC for coffee is as ridiculous as paying with a gold bar.
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I've witnessed post 2013. Though I survived just fine I'd be well pissed off if something like that happened again. It was the utter deadness after the dip that was dispiriting. Weeks would go past with nothing happening. I really wouldn't want to return to that.
2014-2016 were almost dead indeed. I've almost forgot about bitcoin until 2017. A powerful dip might be scary but at least it's a sign of life.
Yes, dips combined with large volumes and powerful rebounds look encouraging. |
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No, not easily. I've got used to them. For example, the correction we are experiencing right now was inevitable, and I expected it. Yes, a big drop caused by something really serious (software vulnerability, for example) may happen, but it's unlikely. Right now things look completely normal.
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Answering my own questions: I suppose it is possible to install the latest version to the Tails permanent storage and it should read the wallet properly, without the need to restore from the seed. Maybe it is better to do it right now.
Yes, it works with the latest version (3.0.2), so i suppose there will be no difficulties accessing my coins later, when I need them. Another question. Is it possible to export an incoming transaction from the watching-only wallet and import it to the cold wallet to make it show the correct amount without connecting to servers?
No, it does not work. It seems that import is for signing only. I've also tried to sign a message in cold wallet and then to verify it. No problems. |
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It seems I've found a bug or glitch in Electrum for Android. I've tried to create watching-only wallets several times. Two of them under Linux and one under Android work perfectly, but another one under Android shows the only transaction to the wallet as "Not verified" despite more than 90 confirmations.
The watch only function of electrum on android seems slightly buggy for me too. I have ~30tx on the addresses I watch and it seems like electrum doesn´t remember that it received that the tx is already confirmed (it has to refresh it on each start). The more tx I get the longer it takes to refresh (show me that the tx is confirmed). For my 30 tx which are displayed in my watch wallet, it takes ~ 15 seconds to load, maybe you got more tx and close before the app has finished loading. I've encountered that glitch in a wallet with only one transaction. |
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Address: 146iCvG83XWoKJgrmHLWAEXUPX8f9WWx9n Message: This is A1exander, 30/11/2017 Signature: H6fCMOs0UMRjqnakmh2erjFsYgvnMeEJABYjTMlrWpbHbsXKMigwl9jYLYNLxZHcaWwbKTg76gXcnn/Lc0k9Zhk= Please verify and quote. |
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Didnt want to comment at first because i didnt want to look like a fudder as i stated my worries few weeks before already....
I was a proud owner of tangerine token before but now it seems like a bad investment.
For all we know, the devs could be offshore enjoying their money on the beach while trying to keep us at bay with a post every 2 month.
How can the devs not see the project from our perspective and update on ANY communication channel (silence on facebook, twitter, medium and here) they have?
Really huge disappointment, great project, bad team executing it
Same thoughts. It looked like a very good project first, but now it seems to be a dead project. All I have is a bunch of useless tokens received as "bounty". |
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I believe when all is said and done, Bitcoin will play the role of "digital gold" (that is, a store of value) while other coins take on the roles of hundreds of other financial niches. This would include everyday purchases as a cash replacement, which might be covered by Litecoin or Dash or several other possibilities.
Probably. Maybe not hundreds, but only a few other coins. Bitcoin with its history and reputation on the one hand, but small capacity, slow transactions and high fees on the other hand is suitable for the role of "digital gold", but not for replacing cash or cards. |
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It seems I've found a bug or glitch in Electrum for Android. I've tried to create watching-only wallets several times. Two of them under Linux and one under Android work perfectly, but another one under Android shows the only transaction to the wallet as "Not verified" despite more than 90 confirmations.
This is a known issue on the PC version. You just restart electrum to make it sync properly. I guess on android you would go to the app view (right most button at the bottom), close and then restart electrum. Alternatively changing the electrum server you are using sometimes does the job. Restarting did not help, but then it suddenly began to work normally. Well, it's a minor inconvenience. The cold wallet will not be syncing with servers anyway, because the system will never be online. The only potential problem may be with wallet, seed or signature formats, not with server connections.
There have been bug fixes related to offline signing too since 2.7.9 Also, the issue with networking with servers is generally fairly easy to fix.
The only fix is to install the latest version of electrum on tails. Simply changing servers doesn't do the job. I suppose it is possible to install the latest version to the Tails permanent storage and it should read the wallet properly, without the need to restore from the seed. Maybe it is better to do it right now. Another question. Is it possible to export an incoming transaction from the watching-only wallet and import it to the cold wallet to make it show the correct amount without connecting to servers? |
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It seems I've found a bug or glitch in Electrum for Android. I've tried to create watching-only wallets several times. Two of them under Linux and one under Android work perfectly, but another one under Android shows the only transaction to the wallet as "Not verified" despite more than 90 confirmations.
What is the nature of that Android device? How full is it storage wise, how many transactions should it load? Also, what is the operating system you're running, an old OS may not function as well as a new one (I had it on jellybean and it kept crashing). Google Nexus 5 with Android 6.0.1. More than 1GB free, 1 transaction only. After a few hours it finally showed the transaction as confirmed. I send another one and it displayed its confirmation progress normally. It's useful to know that in older versions, if you send a tansaction and the address is not in the offline sandboxed wallet, the transaction won't be able tobe signed unless you make the wallet aware of the new address (using a gap_limit command). You can do this by doing either [1]: wallet.create_new_address(False)
or wallet.storage.put('gap_limit',n)
Where n is the number of your addresses lus the nuber of addresses you want to make. If you have a lot of space, you may want to set this to something like 1000. In case if I send coins to some new addresses created in watching-only wallet and later want to spend them? |
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It's not impossible, but there will be a correction, hopefully not a very deep one. Personally, I don't want it, but it is inevitable, sooner or later.
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Bitcoin is rising too fast. It is not normal. How do you think?
I predict Bitcoin will fall at 7k on December
It's probably too fast, but it's impossible to predict. I've been expecting a correction from $9-9.5k to somewhere like $7.5-8k before breaking $10k, but it did not happen. There will be a correction, no doubt, but now $7k is unlikely. Alternatively, bitcoin may rise to $11-12k and then correct to $10k. Nobody knows from which level the correction will start. |
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It seems I've found a bug or glitch in Electrum for Android. I've tried to create watching-only wallets several times. Two of them under Linux and one under Android work perfectly, but another one under Android shows the only transaction to the wallet as "Not verified" despite more than 90 confirmations.
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Also, the issue with networking with servers is generally fairly easy to fix.
And to confirm, along with the above posts of people who have used it with tails successfully, there should be no signature differences for legacy transactions and you should also be able to send coins to segwit addresses, just not sending a segwit transaction from your wallet.
Thanks, that's probably all I need. Maybe I'll want to move my coins to a new Segwit address in the future, but now it is not needed at all. I'd recommend not using SegWit anyway yet at all in a wallet you're not going to spend from by any large rate as it doesn't save very much and there should be more to come so updating at every hard fork faced would just be to much of an arduous task to keep doing every hard fork (as there may be more to come and there's always segwit2x if that gets rescheduled. Thanks, I have a similar feeling and I'll follow this advice. It is not a spending wallet and will be used only when I decide to 'cash out' (partially) or need to move the coins to another cold wallet. |
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Well, considering that when you install tails you have to follow those steps, it is more or less time consuming:
- download the iso file
- install it on a USB drive
- boot from that USB drive
- install tails on the other USB stick
- format the first one
Compared to an over the air update which I imagine like that:
- Boot from your already existent tails
- press a button
Even if you have it not online except you need your money from cold storage, I would prefer over the air updates.
AFAIU, it can also be upgraded from a system running in a virtual machine, which is OK for me. |
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It should work fine with online version 3.x
I tried.
Good. I installed it and tried to send a small sum to it. Watching-only wallets work, both under Linux and Android. |
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Yes, it's a historical day. I also wonder how deep the upcoming correction will be...
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Congratulations! I want to be extra careful, so I voted $50k - that would be definitely enough. Right now I prefer to keep saving (not only to BTC) and holding.
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Also, the issue with networking with servers is generally fairly easy to fix.
And to confirm, along with the above posts of people who have used it with tails successfully, there should be no signature differences for legacy transactions and you should also be able to send coins to segwit addresses, just not sending a segwit transaction from your wallet.
Thanks, that's probably all I need. Maybe I'll want to move my coins to a new Segwit address in the future, but now it is not needed at all. |
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