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Hey all, I have a simple question. I currently do not have any peers in my Bitcoin Client, yet when I open Process Hacker 2 we see that Bitcoin-qt.exe is sending and receiving information over the internet.If I have no peers, who am I getting this information from?Bonus Question: What information am I sending and receiving? |
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I belive that its LN that its helping holding the 6k. Everyone is beliving that this will make an YUGE impact in bitcoin future. If this goes wrong it will be a massive dump!
I would like to have an eye on LN developement. Is there any site to look?
Is there any issue/problem thats is not solved yet?
LN is a layer two solution, meaning it is built on top of & completely separate from the Bitcoin blockchain that has been running for almost 10 years. While the Lightning Network may help increase adoption, its impact will likely not be seen for at least a year or two. The network is growing at a faster rate every day. LND is hard to run for regular users right now. Right now, to implement a node using all the features available (connecting to peers, opening channels, funding channels, making sure you are properly connected to peers & the network) you must be fluent in some sort of command line interface, understand internet trafficking, IP addresses, and be comfortable using and reading information from a terminal. It may be scary at first, but with a drive to learn on your own, perseverance, and a little bravery, I know you can do it! If that doesn't sound appealing to you, there are applications are being built with a user interface, making it feel much safer and less chaotic. If the lightning network failed right now, I don't think it would result in a massive dump. I think this because not very many people are using it & regular people are not paying attention to Bitcoin right now. If it failed during the craziness of December 2017, I think it would result in a massive dump, because people who buy at the top don't understand the technology and they would think it was actually Bitcoin that had failed. However, we know that it is a layer two solution and is completely separate from the standard Bitcoin Blockchain. As for resources to keep an eye on development:
These are the three main BOLT protocol implementationsThis is one resource for news from the applications built on top of these implementationsHere you can see Lightning Nodes and their ChannelsAnd finally here is an extra resource to keep you busy and learning for days!
When you are hungry for more come back here!  |
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It would be great if you could share your experience of running a Lightning Network node after 1 month in this thread. Nobody has shared statistics of a node which is hidden behind the Tor network, yet. Would you mind if ask you a few questions regarding the setup of such node? I would like to write a tutorial so that other people could easily setup their LN node which would connect through the Tor network on Windows. Absolutely! Let's talk! |
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(renaming the file to lnd.conf from lnd.conf.txt will do the trick once you change that setting)
This worked great, got rid of the warning! Thanks! Your machine refuses the connection at port 9051.
Can you verify that the tor service is running at this port ?
I believe the standard port for tor is 9001 and 9051. But this can be freely changed. It is just important that you connect to the same port where tor is listening.
I got it working! Here is what I did in case anybody in the future runs into the same issues that I do 
I was able to confirm my tor service was running by launching run and typing 'services.msc'. I then scrolled down to confirm that 'Tor Win32 Service' was running. Tor is running. Is my port open? Let's see! I launched cmd as Administrator and ran the command I confirmed the port was open by scrolling up to my desired port number (127.0.0.1:9051) and ensuring the port's state was set to 'LISTENING' So I confirmed the port was listening properly, so why was I still getting this error? 2018-12-02 18:14:38.452 [INF] LTND: Shutdown complete
unable to connect to Tor server: dial tcp 127.0.0.1:9051: connectex: No connection could be made because the target machine actively refused it. I launched my Bitcoin Core Full Node launch using run with the commands/flags: "C:\Program Files\Bitcoin\bitcoin-qt.exe" -txindex=1 -zmqpubrawblock=tcp://127.0.0.1:9051 -zmqpubrawtx=tcp://127.0.0.1:18504 -rpcuser=ezra -rpcpassword=Bignoodles -server=1 -rpcallowip=127.0.0.1 I then launched Powershell as administrator and started lnd.exe using this command with flags: .\lnd.exe --bitcoin.active --bitcoin.mainnet --bitcoin.node=bitcoind --bitcoind.rpchost=127.0.0.1 --bitcoind.rpcuser=ezra --bitcoind.rpcpass=Bignoodles --bitcoind.zmqpubrawblock=tcp://127.0.0.1:9051 --bitcoind.zmqpubrawtx=tcp://127.0.0.1:18504 --debuglevel=info --rpclisten=localhost:10012 I can now connect to the Lightning Network & connect to peers! However, lncli freezes when I try to open a channel with a peer. I believe this is due to the fact that I didn't receive a 'Uris' IDTo fix this, I went into %localappdata% and found my lnd.conf, and added the flag: externalip=7p70tghbgasedo0.onion MyIP is the same as my Bitcoin Core Full Node's IP addressUnfortunately at this point my lncli through Powershell would not be able to open a channel and would freeze every time I attempted. I went over to the LND dev Slack, and they let me know I should be using Command Line instead of Powershell, and guess what! It WORKS!
I started this journey to a Lightning Node on November 24th, and now have a fully working Lnd Node running over the Tor network! I had never used Tor before. Because of Lightning and the Bitcoin Core Full Node I learned so much about my computer (I thought I knew so much, I now know how much I have to learn  ) Thank you to @bob123 & @BitCryptex for helping me out, you are great! Also couldn't have done it without the LND Slack or Pierre Rochard on Twitter |
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As for the Tor connection error, try disabling Windows firewall for a moment. If it works, you will have to add proper exceptions. I disabled my Firewall, still the same result 2018-12-02 18:14:38.450 [ERR] SRVR: unable to start server: unable to connect to Tor server: dial tcp 127.0.0.1:9051: connectex: No connection could be made because the target machine actively refused it.
2018-12-02 18:14:38.452 [INF] LTND: Shutdown complete
unable to connect to Tor server: dial tcp 127.0.0.1:9051: connectex: No connection could be made because the target machine actively refused it. I am continuing my search now |
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I was not, I have been using the browser meaning the browser had to be open for traffic to be routed, which is not recommended according to @cellard from this post (6th reply)So, you are trying to use the bundled Tor from Tor Browser rather than a dedicated Tor daemon? This is not recommended.
IIRC, the default TCP port for Tor Browser’s Tor’s SOCKSPort is 127.0.0.1:9150, which explains why Bitcoin could not connect to port 9050. On Linux, at least, recent versions of Tor Browser may even use a UNIX domain socket rather than a TCP socket. But I’m not even sure what it does by default, since I use Tor Browser with an external Tor daemon on a network-isolating gateway. I would need to search—I recommend that you do so, if you really want to use Tor Browser’s Tor.
If you want to add another SOCKSPort to Tor Browser, look for Browser/TorBrowser/Data/Tor/torrc. See the Tor manual page for documentation of SOCKSPort. Be aware that this will probably (?) be wiped out when you upgrade Tor Browser.
It is strongly recommended that you set up a separate Tor daemon for your Bitcoin. I recommend doing so on a gateway which isolates the internal network; this affirmatively prevents all leaks of your “real” IP address, whether malicious or accidental. Many applications leak horribly, doing direct DNS lookups even when they purport to accept SOCKS proxy settings. You can set up a Tor gateway on a cheap computer with two Ethernet ports, or using VMs within the same physical machine. On FreeBSD, the jail subsystem provides a lightweight means to achieve this. N.b. that if you use a separate Tor daemon with Tor Browser, it requires some muttered incantations to disable Tor Browser’s bundled Tor; and you must do this to avoid “Tor-over-Tor”, which will harm your anonymity as well as killing performance. I followed the guide you linked, and my method was a little bit different than in the guide. I had to open up command prompt as administrator, and change directory to my Tor file cd C:\Users\Ezra\Desktop\Tor Browser\Browser\TorBrowser\Tor and THEN I was able to create the tor service For me it did not work unless I was running cmd as administrator Don't forget to actually run tor.exe before launching the Full NodeThank you for the link, that helped me solve a problem I would eventually run into. Are you running the commands with an administrator account? It can't find lnd.exe because it is not in the current directory. Navigate to the directory where the .exe is placed (seems to be C:\Users\Ezra\), then try it again. Lol, duh. Thank you  Helped me fix that pretty quickly. Running Powershell as admin, and going to the correct directory got rid of all the mkdir issues I was getting. New ErrorsSo it seems my initial two errors are fixed. Now I have one error and a warning that I am worried about Currently I am hung up on this errorMy lnd.exe command with flags: .\lnd.exe --bitcoin.active --bitcoin.mainnet --bitcoin.node=bitcoind --bitcoind.rpchost=127.0.0.1 --bitcoind.rpcuser=ezra --bitcoind.rpcpass=Bignoodles --bitcoind.zmqpubrawblock=tcp://127.0.0.1:18503 --bitcoind.zmqpubrawtx=tcp://127.0.0.1:18504 --debuglevel=info --listen=localhost --tor.active --tor.streamisolation --tor.v3 listen=localhost It catches up to the block hashes fine, but when (what I assume is) getting Lightning Network channel information, it gets hung up with the error message: 2018-12-02 16:50:39.861 [ERR] SRVR: unable to start server: unable to connect to Tor server: dial tcp 127.0.0.1:9051: connectex: No connection could be made because the target machine actively refused it. I haven't looked into it too much, I will start googling after this post, just wanna update with the progress you guys are helping with. The warning message happens in the lnd.exe console right after I press Enter using these flags: .\lnd.exe --bitcoin.active --bitcoin.mainnet --bitcoin.node=bitcoind --bitcoind.rpchost=127.0.0.1 --bitcoind.rpcuser=ezra --bitcoind.rpcpass=Bignoodles --bitcoind.zmqpubrawblock=tcp://127.0.0.1:18503 --bitcoind.zmqpubrawtx=tcp://127.0.0.1:18504 --debuglevel=info --listen=localhost --tor.active --tor.streamisolation --tor.v3 listen=localhost The warning message is: 2018-12-02 16:46:16.575 [WRN] LTND: open C:\Users\Ezra\AppData\Local\Lnd\lnd.conf: The system cannot find the file specified. I went into that directory and created a new txt file named 'lnd.conf', But I believe the computer saves it as lnd.conf.txt, resulting in this warning. Unfortunate because it would be great to have a log of all this crap I'm off to try and find a solution, when I find one I will update the thread |
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Bitcoin Client Software and Version Number: /Satoshi/ 0.17.0.1/ & Lnd 0.5.0-beta (Also happened on 0.5.1-beta) Operating System: Windows 10 System Hardware Specs: Ryzen 7 1700 CPU, 16GB RAM, 3TB HDD, GTX 960 Description of Problem: I have two separate errors. I believe error 2 must be dealt with before moving onto error 1. So the story goes I was doing fine running an LND Node v 0.5.0-beta through Windows Powershell. Everything was working as expected. Before funding a channel I decided to use Tor to hide my IP address. (I have never used Tor before) I downloaded the Tor Browser, set up my Bitcoin Core Full node through Run using these flags: "C:\Program Files\Bitcoin\bitcoin-qt.exe" -txindex=1 -zmqpubrawblock=tcp://127.0.0.1:18503 -zmqpubrawtx=tcp://127.0.0.1:18504 -rpcuser=ezra -rpcpassword=Bignoodles -server=1 -rpcallowip=127.0.0.1 I added additional flags in my Bitcoin Core Config file: proxy=127.0.0.1:9150
bind=127.0.0.1
onlynet=onion
dnsseed=0
dns=0
externalip=qwertyuiop1234.onion Additionally I went into C:\Users\Ezra\Desktop\Tor Browser\Browser\TorBrowser\Data\Tor\torrc and add the following flags: Controlport 9051
CookieAuthentication 1
CookieAuthFileGroupReadable 1 Now, in a Windows Powershell Console, I would launch lnd.exe with these commands/flags: .\lnd.exe --bitcoin.active --bitcoin.mainnet --bitcoin.node=bitcoind --bitcoind.rpchost=127.0.0.1 --bitcoind.rpcuser=ezra --bitcoind.rpcpass=Bignoodles --bitcoind.zmqpubrawblock=tcp://127.0.0.1:18503 --bitcoind.zmqpubrawtx=tcp://127.0.0.1:18504 --debuglevel=info --tor.active --tor.streamisolation --tor.v3 listen=localhost Upon unlocking wallet using a separate powershell instance with the command I receive this error message: 2018-12-01 19:49:27.376 [INF] LNWL: Opened wallet
2018-12-01 19:49:27.456 [INF] LTND: Primary chain is set to: bitcoin
2018-12-01 19:49:27.470 [INF] LNWL: Started listening for bitcoind block notifications via ZMQ on tcp://127.0.0.1:18503
2018-12-01 19:49:27.470 [INF] LTND: Initializing bitcoind backed fee estimator
2018-12-01 19:49:27.470 [INF] LNWL: Started listening for bitcoind transaction notifications via ZMQ on tcp://127.0.0.1:18504
2018-12-01 19:49:28.324 [INF] LNWL: The wallet has been unlocked without a time limit
2018-12-01 19:49:28.327 [INF] LTND: LightningWallet opened
2018-12-01 19:49:28.343 [INF] LNWL: Catching up block hashes to height 552210, this will take a while...
2018-12-01 19:49:28.351 [INF] SRVR: Proxying all network traffic via Tor (stream_isolation=true)! NOTE: Ensure the backend node is proxying over Tor as well
2018-12-01 19:49:28.362 [INF] HSWC: Restoring in-memory circuit state from disk
2018-12-01 19:49:28.375 [INF] LNWL: Done catching up block hashes
2018-12-01 19:49:28.379 [INF] HSWC: Payment circuits loaded: num_pending=0, num_open=0
2018-12-01 19:49:28.387 [INF] LNWL: Started rescan from block 000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e (height 551100) for 0 addresses
2018-12-01 19:49:28.388 [INF] LNWL: Starting rescan from block 000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e
2018-12-01 19:49:28.403 [INF] RPCS: RPC server listening on 127.0.0.1:10009
2018-12-01 19:49:28.403 [INF] RPCS: gRPC proxy started at 127.0.0.1:8080
2018-12-01 19:49:28.405 [INF] LTND: Waiting for chain backend to finish sync, start_height=552210
2018-12-01 19:49:28.544 [INF] LNWL: Catching up block hashes to height 551100, this might take a while
2018-12-01 19:49:28.552 [INF] LNWL: Done catching up block hashes
2018-12-01 19:49:28.552 [INF] LNWL: Rescanned through block 000000000000000000203bd4f78b9f1de9e0cc3762c707c2326de1e1a097833c (height 551100)
2018-12-01 19:53:17.498 [INF] LNWL: Rescan finished at 550956 (000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e)
2018-12-01 19:53:17.580 [INF] LNWL: Catching up block hashes to height 550956, this might take a while
2018-12-01 19:53:17.594 [INF] LNWL: Done catching up block hashes
2018-12-01 19:53:17.594 [INF] LNWL: Finished rescan for 0 addresses (synced to block 000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e, height 550956)
2018-12-01 19:53:18.569 [INF] LTND: Chain backend is fully synced (end_height=552211)!
2018-12-01 19:53:18.570 [ERR] SRVR: unable to start server: unable to retrieve authentication cookie: open C:\\Users\\Ezra\\Desktop\\Tor: The system cannot find the file specified.
2018-12-01 19:53:18.605 [INF] LTND: Shutdown complete I waited a while and tried again under the same commands/flags 2018-12-01 20:25:14.209 [WRN] LTND: open C:\Users\Ezra\AppData\Local\Lnd\lnd.conf: The system cannot find the file specified.
2018-12-01 20:25:14.210 [INF] LTND: Version: 0.5.0-beta commit=, build=production, logging=default
2018-12-01 20:25:14.210 [INF] LTND: Active chain: Bitcoin (network=mainnet)
2018-12-01 20:25:14.211 [INF] CHDB: Checking for schema update: latest_version=6, db_version=6
2018-12-01 20:25:14.220 [INF] RPCS: password RPC server listening on 127.0.0.1:10009
2018-12-01 20:25:14.220 [INF] RPCS: password gRPC proxy started at 127.0.0.1:8080
2018-12-01 20:25:14.221 [INF] LTND: Waiting for wallet encryption password. Use `lncli create` to create a wallet, `lncli unlock` to unlock an existing wallet, or `lncli changepassword` to change the password of an existing wallet and unlock it.
2018-12-01 20:25:28.361 [INF] LNWL: Opened wallet
2018-12-01 20:25:28.445 [INF] LTND: Primary chain is set to: bitcoin
2018-12-01 20:25:28.457 [INF] LTND: Initializing bitcoind backed fee estimator
2018-12-01 20:25:28.457 [INF] LNWL: Started listening for bitcoind block notifications via ZMQ on tcp://127.0.0.1:18503
2018-12-01 20:25:28.457 [INF] LNWL: Started listening for bitcoind transaction notifications via ZMQ on tcp://127.0.0.1:18504
2018-12-01 20:25:29.326 [INF] LNWL: The wallet has been unlocked without a time limit
2018-12-01 20:25:29.330 [INF] LTND: LightningWallet opened
2018-12-01 20:25:29.339 [INF] SRVR: Proxying all network traffic via Tor (stream_isolation=true)! NOTE: Ensure the backend node is proxying over Tor as well
2018-12-01 20:25:29.348 [INF] LNWL: Catching up block hashes to height 552214, this will take a while...
2018-12-01 20:25:29.351 [INF] HSWC: Restoring in-memory circuit state from disk
2018-12-01 20:25:29.359 [INF] HSWC: Payment circuits loaded: num_pending=0, num_open=0
2018-12-01 20:25:29.372 [INF] LNWL: Done catching up block hashes
2018-12-01 20:25:29.384 [INF] LNWL: Started rescan from block 000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e (height 551100) for 0 addresses
2018-12-01 20:25:29.384 [INF] LNWL: Starting rescan from block 000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e
2018-12-01 20:25:29.394 [INF] RPCS: RPC server listening on 127.0.0.1:10009
2018-12-01 20:25:29.394 [INF] RPCS: gRPC proxy started at 127.0.0.1:8080
2018-12-01 20:25:29.395 [INF] LTND: Waiting for chain backend to finish sync, start_height=552214
2018-12-01 20:25:29.535 [INF] LNWL: Catching up block hashes to height 551100, this might take a while
2018-12-01 20:25:29.556 [INF] LNWL: Done catching up block hashes
2018-12-01 20:25:29.556 [INF] LNWL: Rescanned through block 000000000000000000203bd4f78b9f1de9e0cc3762c707c2326de1e1a097833c (height 551100)
2018-12-01 20:29:22.512 [INF] LNWL: Rescan finished at 550956 (000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e)
2018-12-01 20:29:22.520 [INF] LNWL: Catching up block hashes to height 550956, this might take a while
2018-12-01 20:29:22.531 [INF] LNWL: Done catching up block hashes
2018-12-01 20:29:22.531 [INF] LNWL: Finished rescan for 0 addresses (synced to block 000000000000000000249228113421860caa24fbe0ada757446eefd819f1f07e, height 550956)
2018-12-01 20:29:22.547 [INF] LTND: Chain backend is fully synced (end_height=552215)!
2018-12-01 20:29:22.548 [ERR] SRVR: unable to start server: unable to retrieve authentication cookie: read C:\\Users\\Ezra\\Desktop\\Tor: The handle is invalid.
2018-12-01 20:29:22.573 [INF] LTND: Shutdown complete My Tor Browser is saved under 'C:\Users\Ezra\Desktop\Tor Browser' The file path LND was looking for 'C:\\Users\\Ezra\\Desktop\\Tor' doesn't exist. I tried to rename the folder 'Tor Browser' to 'Tor' and to nobody's surprise that didn't work  Is there a way for me to manually redirect it to the correct folder? I'm kind of at a loss on this one, however it's not the most pressing issue I am having. If we are able to resolve Error #2, the next step would be fixing Error #1 I had been doing lots of closing and opening Lnd.exe & the Full Node so I decided to restart the PC.. Same issue continues. Next I decided to delete both lnd.exe & lncli.exe from my computer, and install the newest version (0.5.1-beta) Here is error 2:I decide to delete my Lnd folder from the %localappdata% (saved to recycle bin) & delete all my tor flags, now running these commands for: Bitcoin Core Full Node, launched through run"C:\Program Files\Bitcoin\bitcoin-qt.exe" -txindex=1 -zmqpubrawblock=tcp://127.0.0.1:18503 -zmqpubrawtx=tcp://127.0.0.1:18504 -rpcuser=ezra -rpcpassword=Bignoodles -server=1 -rpcallowip=127.0.0.1 Commands/flags for Lnd.exe, launched through PowerShell .\lnd.exe --bitcoin.active --bitcoin.mainnet --bitcoin.node=bitcoind --bitcoind.rpchost=127.0.0.1 --bitcoind.rpcuser=ezra --bitcoind.rpcpass=Bignoodles --bitcoind.zmqpubrawblock=tcp://127.0.0.1:18503 --bitcoind.zmqpubrawtx=tcp://127.0.0.1:18504 --debuglevel=info -listen=localhost The only message I get after pressing enter is: https://imgur.com/a/zed0TvPloadConfig: Failed to create lnd directory: mkdir C:\Users\Ezra\AppData\Local\Lnd: Access is denied (Bug info less detailed because it is not being written to the log file) This issue is my main concern. Suddenly my PowerShell lost privileges to create/access directories? It had this privilege when I first created a node weeks ago, and it had these privileges about 30 minutes ago, before I started setting this stuff up using Tor Next I tried running PowerShell as Administer, giving me a whole new error: https://imgur.com/a/NYNuNo6Finally, I moved my Lnd folder back into %localappdata% and tried to launch lnd.exe through PowerShell (non-administrator) using all the same commands/flags as before, resulting in this error message: https://imgur.com/a/0gTgXrjfailed to create file rotator: open C:\Users\Ezra\AppData\Local\Lnd\logs\bitcoin\mainnet\lnd.log: Access is denied So yeah, I'm kind of at a loss. I haven't used much PowerShell before trying to run an Lnd node, haven't used Tor before. Spent too much time learning about and experimenting with Lnd to give up now, I'm very willing to work with anyone who can steer me in the right direction!!! Thank you to anybody who took the time to go through this!!!!!
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I started to search for lightning netwrk and then came across dandelion and started researching about that instead (oops).
Staying on the topic you originally intended to research is so hard with Bitcoin. Before you know it you have 15 tabs open and 6 git repositories and 2 conspiracy theories and suddenly you're added to 3 gov't watch lists  Lightning is like a second rabbit hole to the already difficult rabbit hole of Bitcoin |
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Ah yes, I fogot about the LN. I'm not entirely sure how all of that works (still need to read up on it quite a bit) but that'll definitely help you with accepting payments.
There is a limit on the LN and I don't think you can put it on a tablet as far as I know so putting it on a windows/linux machine would be necessary (it can of course be a windows/debian/ubuntu tablet instead)...
I know that Pierre Rochard has a great one-click LN Launcher for Windows and Mac. It will get you set up and running, then you'll have to manually set up channels and send transactions using the cli for now. If you want a a step by step overview of what the one-click LN Launcher is doing in the background, this video might help explain. The video description has extra resources for LN as well. As for setting up the channels and doing a transaction, this video is super informational (It is using ) These resources aren't for the average shoe store owner. They are more for people who want to be ahead of the game and help implement these stuff FOR the shoe store owner. |
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your questions don't seem to be related to HD wallets though! an HD wallet is simply a wallet that is based on BIP32 proposal[1]. it allows your wallet to have a master key to generate all your addresses from. and just like an address you have 2 sets of keys, a private one which you keep secret and a public one which you can put on your hot wallet or share. for example a business (shoe store) creates a wallet offline and generates a master private key. then from that master private key it creates a master public key and transfers that to their cashier. there you can create the same addresses as if you had the private keys but you don't. so you are safe while you don't have to go back and forth between two computers for every address you generate. [1] https://github.com/bitcoin/bips/blob/master/bip-0032.mediawikiThank you for the explanation and the link. I have used a few HD wallets without even realizing it! I never noticed that the receive address was different every time I received them
Most wallet softwares do number 1 automatically (as that's the initial design that everyone gets a new address for every new transaction).
As pooya says, you can do it with separate wallets per till and separate public/private keys too so that it is more secure.
In addition to this, you might want to wait for 1 or 2 confirmations (or treat it like an international transaction and get people to sign something when they pay with bitcoin and show proof of ID to let them have an unconfirmed transaction that you can go back and get later - this is often done with international visa debit cards for people who go to different countries within the EU if a currency conversion is needed).
You'll probably want deposits to go in in legacy addresses too, native segwit addresses might not be compatible with every wallet.
A legacy address begins with a 1.
A segwit address begins with a 3.
A native segwit address begins with a bc1.
Dang, having the customer sign for the transaction isn't much of a deviation from the current economic model. I think what the shoe store would have to do is set up a lighting network node and use lightning to receive the payment instead. That way they are on the bleeding edge, and hopefully the user experience will be impressive for the customer the first time they use it. Thank you for taking the time out of your day to help me out, you both are definitely steering me in the right direction. |
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1. Look at the docs for the wallet or run a google search.
2. Tills normally run windows operating systems, why not just install bitcoin core on those (encrypting it giving the manager/store owner the access to the password and everyone elese able to only generate addresses). You could also use electrum wallet but they won't be as reliable as bitcoin core as you're relying on a third party (who is still fairly trustworthy though)...
3. If this were the case, some sort of payment processor like coinbase might be better to process consumers transactions. Alternatively, the store owner could keep their profits in bitcoin (or half of their profits) and turn the rest to fiat in order to use it to buy more stock/pay staff etc...
I definitely have more research to do on this topic lol I did do a decent amount of googling before posting, but most search results were simply a list of wallets that have HD capabilities, offering no explanation on how to actually work an HD wallet. Thank you for the reply, I am off to do more Googling now |
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Let's say there is a business selling shoes. They want to accept Bitcoin. How do they get set up to make this work in the real world?
I would assume that for every purchase, a new QR code is created for individual transactions.
I have sent bitcoin to my siblings through Mycelium. When I did the transaction with my sister, it showed that her Bitcoin was pending verification within 5 seconds of me hitting the send button on my phone. The next time I sent Bitcoin to a my brother, his app took about 3 minutes to show the transaction was on the way. Has anybody experienced a 3+ minute wait time? Obviously, that wait isn't suitable for a busy store.
A few follow up questions.
1. How do I know which wallet software is capable of creating a public key for every new transaction?
2. Assuming the storefront has a tablet at checkout, what app/software should a business like that use?
3. Is it recommended for the business to sell a % of BTC into USD immediately to protect their capital from the volatility of Bitcoin? (I suppose this depends on the market climate, but if the store owner doesn't care/have time to keep an eye on what the market is doing I'm sure the selloff to USD would be his/her preferred plan)
Thank you for taking time!
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With Thanksgiving coming up, are you, as the family's 'crypto expert' planning on talking about Bitcoin, or are you going to wait for the 'So how's your internet money coming along'? How do we get 'no-coiners' to understand our passion for crypto without sounding crazy?  |
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I've been thinking about some small programs I can create using stats from the bitcoin network. I was wondering if there is already a program that keeps track of the largest transaction that happened in a 24 hour period?
What is the largest transaction for you? Do you mean the transaction size or the amount of bitcoins which were sent? If the latter then this page might be useful for you. It shows all transactions with the biggest amount of BTC sent in the past 24 hours. That is exactly what I was looking for! Thank you very much 🤓 |
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I've been thinking about some small programs I can create using stats from the bitcoin network. I was wondering if there is already a program that keeps track of the largest transaction that happened in a 24 hour period?
If not, how would I best approach it? Maybe download the chain as new blocks are added and just do some filtering? I don't know much about the technical aspect and figure this would be a good way to start out.
Thank you in advance for any help 😁
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Kryll is looking like a really good project. I just tried using the trading strategy drag and drop thing. It was a little bit confusing, but the model worked! The service crashed for a few minutes due to a 'long script' (I'm using Microsoft Edge), but it was recovered. I'm wondering, is there a way to see how many users are registered for this service, and where do I go to see the coin emission rate? Thank you in advance |
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Actually ICO is a good thing, it's just that now switching functions are used by certain groups to take unilateral benefits which ultimately makes everyone think that ICO is bad.
In my opinion the ICO rules must be changed or if it still remains like this does not rule out the possibility of many more fraudulent ICO SCAM projects.
The beautiful thing about literally ANYONE can raise money through an ICO is that it truly is a free market. However, in a free market many people suck at making financial decisions. Some don't do enough research, some fall for wild claims of guaranteed profit, and some just get greedy and put too much in. Doesn't mean the rules need to change, because technically there are no rules. People just need to be more cautious. |
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I'm just now discovering this project. Do new power lines have to be run or can this system run on current infrastructure?
Well there are alternate possibilities in the future depending on which model you look at. The two models have a better explanation on Restart Energy's Website than I could give, but basically Restart Energy has two choices: 1. To build its own infrastructure from the company’s funds and supply power with the assistance of Type B franchise (Reseller / Broker). 2. To contact a local type A Franchise, in this case Restart Energy would work together with the Master-Franchisee to help set-up his own power retail company, and the Master-Franchisee would be the one to enter into a new market and establish his business. The Master-Franchisee would take on all risk and expenses to create a market, and Restart Energy would provide technical, infrastructural, process automation, marketing and sales support. The Master-Franchisee would need to provide the financial and management capacity for setting up a power retail company. For a Type A franchise there are several criteria to be met besides owning a minimum amount of tokens, such as a minimum capital and marketing budget that we will discuss case by case depending on the country and market size. Thank you for showing me where to get this info. From my understanding, buying enough tokens to become a franchise is basically like buying a partnership with a company. I am on the fence about the whole idea. Like, what if the new franchise owner is a shitty business-owner. How long does the franchise opportunity last if MWAT doesn't like the owner? Are they allowed to cancel the deal, or maybe buy back the tokens? I am curious about the thought process behind having only one master franchise per country. You would think in a decentralized ecosystem you wouldn't care about country borders. A little backwards thinking IMO but then again, crypto is so new, it has to take from old ideas and work with what is going on now. I really like the idea of this token but man... Energy companies here in the U.S. already have monopolies in certain areas and they start bringing in lawyers if somebody dares to enter their territory. I hope the MWAT idea can work in other places. Just wish they didn't care about 1 master franchise per country. |
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I'm just now discovering this project. Do new power lines have to be run or can this system run on current infrastructure?
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