Just one sincere thing James:
I understand that you cannot value BTCD at X10 of current prices for the ico, but the value of 0.0053 seems to me too low. Lots of people have trust in you all this time, buying lots of BTCD upper that level, and I think they deserve a bigger reward from you.
I'm not telling to value BTCD at X10, but the current valuation is too low.
Always remember the ones who have been loyal and benefit them, that's a key rule in finance man...
but why would anyone invest in btc than? I think you can look at the age of the input. Anything in an address older than the swap announce gets the higher rate. The believers. It's certainly possible to do this. Not that anyone is really owed anything. Investing in crypto coin is a 100% at risk endeavor. staking uses up all the coinage, so all active stakers wont have any long coinage. however, this is a good idea. It would be possible to trace back to how long the funds have been in an address. Unfortunately I dont have time to work on such analysis, so if people continue to expect me to do everything including this, then it will cause delays. If there is just an analysis, we can consider allocating a long term holder's bonus in the event the ICO sells out. However, until there is such an analysis made, it is a moot point and without the analysis we cant even evaluate the amount of funds that would be required. The biggest time will be how to allocate rewards based on this long term holding. Clearly I am not the one to determine this. So, if BTCD people want something like this there needs to be an analysis done, and a proposed way to allocate X amount of bonus. Then and only then can I assess it with the understanding that it has to fit into the ICO process, which means to be triggered at the high end of funds raised. I can certainly attempt this analysis. However, I would have no idea what to do with the info. |
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Just one sincere thing James:
I understand that you cannot value BTCD at X10 of current prices for the ico, but the value of 0.0053 seems to me too low. Lots of people have trust in you all this time, buying lots of BTCD upper that level, and I think they deserve a bigger reward from you.
I'm not telling to value BTCD at X10, but the current valuation is too low.
Always remember the ones who have been loyal and benefit them, that's a key rule in finance man...
but why would anyone invest in btc than? I think you can look at the age of the input. Anything in an address older than the swap announce gets the higher rate. The believers. It's certainly possible to do this. Not that anyone is really owed anything. Investing in crypto coin is a 100% at risk endeavor. |
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I am disappointed too. I was waiting for this coin to at least get back to the price bought it for 2 years ago, and now you priced it at 0.0053
Just give BTCD holders fixed % of 100 mil KMD.
This. Atleast it could have been a 50% bonus on the last known price before the announcement. BTCD investors getting the D. It is a balance. If the terms were too much biased for BTCD, then it is against the ICO investors. So we could have said 10x the last BTCD price and gotten 5 BTC raised Somehow I think you will be happier to have raised more and benefit from the added liquidity, development and marketing such funds can achieve If komodo is BTCD, then why an ICO? Shouldn't BTCD be swapped for komodo sort of the way NXT is being swapped for Ardor? If people want Komodo then they buy BTCD. |
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well, reading the rest of this thread should be enough to convince anyone that bitcoin's nowhere near ready for prime time yet.
Well, yes and no. I didn't expect a consensus, but also didn't expect some of the risky advice. Of course, the suggestions to avoid centralized services from many does point to the anarchistic nature of many of the people that use this forum. From my options and the feed back I've gotten here... 1. Paper Wallet created correctly is the most secure, but probably not the most durable. 2. Hardware Wallet, well you have to back up the seed on paper, so I don't see how this is any better than 1, espessially since I just want to sock away the btc. Hardware wallet is certainly the best option for your "checking" account. 3. Coinbase/BitGo, you personally control 2 of 3 keys and still have the advantage of a service to more easily spend if needed. The jury is still out on the bitfinex thing, but it for sure soured me on it. 4. Coinbase Value (they have the keys), trust in the third party service is needed. Trust that they will be good stewards of the keys and also trust that they will be around long term. At any time the Mycelium people could release a version that sends all my coins to some BTC address in some auto update. Do I think it will happen, probably not. Is it possible, yes. Hence my So, perhaps I will create a BIP38 Encrytped Paper wallet on an Air gapped computer and then just store it in my Evernote account along with the physical copy. I am still concerned if something happens to me the money is gone, which means I need to backup the password somewhere. So, Shamir's Secret Sharing I guess to encrypt that and give the parts to trusted friends/family/escrow agent to use in the case of my untimely demise.. |
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Yea, I won the lottery again.
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I have played with NXT and the asset system on and off since last year, I think. i created an asset, funded it and played around. My question is this. With yours and/or any other assest/colored coin, how can they be traded on an exchange other than here. If I create an asset from my NXT balance, give it value......well, then what? Do I have to send a person to the NXT website to buy and sell my assett.
Quite a few nxt assets are trades on various exchanges and shape shift. So, you just have to get them listed. There used to be a service that let you buy NXT assets for BTC, basically it was an online NXT wallet optimized for Asset trading, but I think it is defunct now, probably due to lack of customers. |
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I would use cold storage. Advantages are long-term, secure storage for Bitcoin. The Ledger wallet is a secure device. A disadvantage is the chance of it being lost. It is hard to hack, but most things today can be hacked. These are my recommendations.  By "cold storage" you mean what? Because you say ledger you mean a hardware wallet? |
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From your list I don't find the best option because coinbase does not allow you to control the private key and your funds 100%,
I don't think that's true if you chose the multi-sig option: https://www.coinbase.com/multisigsounds like the Bitgo multisig wallet actually. And you still think that you own 100% of you bitcoins? Sorry man but you have to make a research about this because coinbase is safe but not 100% as you think. Paper wallet is still a good option even though it is an old method but moving also to hardware wallet like trezor is a better option. Yep, I still do: The multisig vault is designed to give you 100% control of your funds, with a balance of security and ease-of-use. You control the private keys which allow you access to your funds, yet you can easily spend your funds simply by entering a password. Because Coinbase never learns your password and never learns your user key, Coinbase never gains access to your funds. https://support.coinbase.com/customer/portal/articles/1743782-what-is-the-multisig-vault-Are you saying they are lying? Or just incompetent? |
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You can laminate your paper wallets, this way it can last longer and only theft or a fire is a issue. The trezor comes with paper sheet where you write your 24 words seed to recover your trezor wallet anytime if your trezor become damaged or lost. If you have spare 1/8 BTC for the trezor, buy it. If not, laminated paper wallets is good option as well.
Lamination does not preserve paper. http://homepages.rootsweb.ancestry.com/~george/preserving_photos.htmlArchivists have discovered the hard way that using ordinary lamination plastic for old documents, newspapers, photos, etc., does not preserve them. The best way to preserve them is to store them in a dark place after placing in acid-free Mylar film (not laminated). Ordinary lamination material still permits light rays to pass through it and to cause a chemical reaction to the acid that most modern paper and modern dyes contain, and that ALL old documents photos contain. This causes deterioration of paper and fading of the paper and print. The heat and pressure of most lamination processes also damages documents.
Of course, keeping original documents is important, but one should always copy (scan) newspapers and other documents and then print them on acid free paper, which can be found at just about all stores selling printer paper and/or computer supplies. Too, one should save the graphics files from scanned documents and put the files on CDs for permanent safekeeping. Life expectancy for data on CDs is 80-100 years for premium quality CDs. I guess I could get one of these. https://www.cryobit.co/cold-storage-products/cryo-card/ |
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Try to use hardware wallet if you are holding any serious amount of bitcoin. The blockchain will take around 260 GB space in your hard drive and will take a long time to update initially, but safest to hold your bitcoin for a long time.
I'm not sure I understand. What does a hardware wallet have to do with the size of the blockchain? My understanding is that a hardware wallet holds your seed/keys and signs transactions for you. It doesn't store the blockchain right? |
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They hold 1 key and you hold two. Two keys are needed to spend. Technically, they hold two keys, but one is encrypted with your password. So, in theory, they can't spend your coins, and you can spend them without them. It looks pretty much the same as Bitgo.
So what is the point of coinbase multisig ? When you lose one of your two keys then you could still spend your coins with coinbase help, thats it ? But it is a question whether coinbase or other service like BitGo going to be around in 10 years... If you plan to dont touch your Bitcoins for so long then paper wallet seems best option to me. Hard to imagine Bitcoin value after so long time. Do not encrypt the paper wallet so the Bitcoins are not lost when you lose the passphrase after so long time. Forgetting/losing a password is going to be an issue no matter what method you chose, Paper or Trezor or Desktop wallet, etc. So you feel better security is to lock up the paper wallet rather than encrypting it eh? |
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Yea, I have no idea the whole story of what happened and it seems Bitgo should be in some way culpable.
I guess I shouldn't be surprised there is no consensus here.
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A lottery for NXT.
Entire funds since last lottery are always paid to winners, less 5% service fee, less incorrectly formatted transfers. No jackpot funds held in the account, very simple accounting.
60% goes to who will guess all 5 numbers correctly.
25% - 4 numbers.
15% - 3 numbers.
Cool. So you are forcing a winner right? BTW: 60% + 25% + 15% doesn't equal 100%. I assume you are keeping 10% of all ticket "buys". If so, that means "entire funds are paid" isn't true. EDIT! DOH! Math is hard. Never mind. Thousands of sequences of 5 numbers are generated till at least one winner is found amongst lottery players, this operation happens three times: for 5-, 4-, and 3-number prizes. Yes, you could say it's forcing a winner. I don't know of other way to run this to the logical end with a small number of players unlike national lotteries where they have thousands of people playing. I keep 5% to pay transaction fees, anything left after tx fees will go to support the Lucky node lottery which is not a lottery but an imitation of coin mining in Nxt - everyone should check it out and join in if you got a spare computer collecting dust that could be turned into a mining node. All the gains are pocketed by lottery players and public node operators Get a beer, play it, have fun. Cool sounds good. You could run it like the national lotteries by adjusting the odds of winning up based on how many combinations of numbers there are. Then just let it roll over until someone wins. Just like the real lotto, as the jackpot gets bigger, you'll get more tickets purchased. [and yea, I'm in the forging node lotto and won once so far] |
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A lottery for NXT.
Entire funds since last lottery are always paid to winners, less 5% service fee, less incorrectly formatted transfers. No jackpot funds held in the account, very simple accounting.
60% goes to who will guess all 5 numbers correctly.
25% - 4 numbers.
15% - 3 numbers.
Cool. So you are forcing a winner right? BTW: 60% + 25% + 15% doesn't equal 100%. I assume you are keeping 10% of all ticket "buys". If so, that means "entire funds are paid" isn't true. EDIT! DOH! Math is hard. Never mind. |
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Paper wallets, but really just the private keys. That look something like this:
5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF
But can be made to look like this:
5Kb8kL
f9zgWQno
gidDA7
6MzPL6T
sZZY36hWX
MssSzNyd
YXYB9KF
And practice restoring them, to make sure you know what you are doing.
So, you're suggesting what? Generate a priv key, and write it down rather than printing it on paper? I always wondered about those split paper wallets you can create too, but never understood exactly how they worked. |
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BIP38 is an absolute must for paper wallets. If you have a paper wallet and you haven't got it encrypted I guess you are up for a hard awakening since sooner or later someone will steal your wallet and he'll have full access to the private key. BIP38 should be enabled by default when you create a paper wallet.
So, do you feel a BIP38 encrypted paper wallet is safe enough to store on line like in Evernote or Dropbox for example? |
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From your list I don't find the best option because coinbase does not allow you to control the private key and your funds 100%,
I don't think that's true if you chose the multi-sig option: https://www.coinbase.com/multisigsounds like the Bitgo multisig wallet actually. even if you hold one signature and they hold the other, it would still be trusting a third party to hold half of it and you may get hurt. besides you can do all these things yourself with a simple paper wallet so what is the point of that. They hold 1 key and you hold two. Two keys are needed to spend. Technically, they hold two keys, but one is encrypted with your password. So, in theory, they can't spend your coins, and you can spend them without them. It looks pretty much the same as Bitgo. |
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From your list I don't find the best option because coinbase does not allow you to control the private key and your funds 100%,
I don't think that's true if you chose the multi-sig option: https://www.coinbase.com/multisigsounds like the Bitgo multisig wallet actually. |
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So, paper wallet created on air gapped computer seems to be the most secure. But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).
I guess there's also Trezor, but that cost money and I guess could become damaged.
You can laminate your paper wallets, this way it can last longer and only theft or a fire is a issue. The trezor comes with paper sheet where you write your 24 words seed to recover your trezor wallet anytime if your trezor become damaged or lost. If you have spare 1/8 BTC for the trezor, buy it. If not, laminated paper wallets is good option as well. When you are creating a paper wallet, any malware on your computer can read the private keys. If you print out the paper wallet the attack surface is increased as your private key will be sent out over your network unencrypted. Even if you use an encrypted paper wallet you are still in danger from keyloggers. A hardware wallet is immune to these attacks. That's why you use an air gapped computer. |
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I'm not sure how: But it has downsides like hard to spend if needed, could be lost, could get destroyed (sure keep several copies).
"hard to spend" is a concern for long term storage? It's not like you're going to be constantly accessing these coins. In any case, it primarily depends on the amount that you're storing and the frequency of access: Get a Trezor and no worries.
There are several hardware wallets that wouldn't be a bad choice. In any case, they're usually better than 3rd party wallets. hard to spend is a minor concern. Either sweep the wallet, and create a new one, or as someone said, create many of them with smaller amounts. Of course, I probably won't be spending for 10 years or so... at some time I will start spending them right? |
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