I have a paper wallet from bitcoinpaperwallet.com, created a few years ago and use mycelium to spend a little from it every so often. The change always goes back to the address should I move all those funds to a new wallet and not spend from paper wallets like that?

Hi Folks

Is there a white list or black list of banks who have been known to just shut accounts because of bitcoin related commerce?

We are about to launch a bitcoin only business and want to have a bank account to use with bitpay and don't want to wake up one day with account suspended simply because we only accept BTC.

What banks are recommended by people that are bitcoin friendly and won't just shut my account 1when they get funds only from bitpay.

Hi Guys,

Thanks so much for all the great work.

Just a thought, it would be great if signatories could sign a transaction from a smart phone because everyone always has them with them.

The problem is always when our organisation needs to send money it always takes forever to get people to go to where they store their laptops, boot up Armory and sign the TX and send it back.

It would be sweet if a little android signing software could be part of the armory ecosystem.

Maybe a premium service?

Cheers

I really like the merkle tree solution to anonymising the users and holdings.

But sorry if I'm missing something here, how is any of this proof of solvency? I can see that it's proof of liability, but to prove solvency we would need to see public addresses of hot and cold wallets?

Thanks for your great advice gmaxwell and thanks for all your amazing work on bitcoin, especially the coinjoin stuff, amazing. 

So the problem is people may randomly ask for withdrawals and sendmany will mean we send out in batches through some type of cron.

When you say that it is advisable to avoid spending unconfirmed outputs, What can go wrong?

We hope to have a higher throughput eventually so to avoid merging coins like you advise is there a function or setting in bitcoin core? which software would be best used as a hotwallet?

So we are building a web app and want people to be able to withdrawal their bitcoins when ever they want as fast as possible. But how do other services deal with multiple people requesting a payout when 1 payout has to wait for a confirmation to get the change back to send the next payment?

Im guessing that createrawtransaction can spend from a given input so that the rest can stay put for another transaction but how can one automate this?

Is there an open source hot wallet software that deals with these issues?

Something that has an API so our app can talk to it and control it?

I noticed blockchain.info has a sendmany method in their API but yeah 3rd party issues.

Yeah I'm a bit suspect of USB viruses / trojans
I have had them in the past. not to do with bitcoin but they infected computers at my old job.

I like the idea of having the cold storage monitor and the hot wallet server camera facing each other and to sign transactions we just let the 2 communicate via QR.
It seems really archaic but bitcoin is strange like that, we have to go back to old tech like paper to truly secure such a futuristic asset.

Thanks for all the great responses.

I love the idea of a warm wallet!
I am collating all the ideas and schematics for the devs to talk over.

Just looking at armory and it would be great if you could import a CSV with transactions that you need to happen and then then sign those on the cold wallet and finally broadcast them from hot.

So Armory would effectively be both the cold and warm wallet but we daily export a CSV of transactions that are waiting to happen and then send them out from cold storage.

Its not ideal because I was thinking it would be best to use Armory to just recharge the HOT wallet and so if the hot wallet runs out of funds then every new transaction goes into a Queue which are then executed once the hot wallet is full again.

What I like about this is that its more automated but if we are compromised I want a way to detect dodgy withdrawals in the queue because we don't want to fall into the alleged Karpeles tunnel syndrome, where funds are tunnelled away under the noses. But thats a whole other problem.

The main problem at the moment is cold warm hot wallet architecture.

Armory really is an amazing piece of work for cold storage, the issue is hot and warm really. I think it might be that every 24 hours we manually top up the hot wallet to a percentage of the cold.

If there is an overflow of withdrawals then we could manually process them. (This could annoy customers but if they realise that its for security reasons then people will be a bit more accepting, although people are fast to yell scam all over the internet if they don't get there bitcoins within seconds :/ so theirs that.  )







 

I'm not sure, This computer would never have seen the internet so I would say it is as cold as paper.

I am simply collating different methods from you guys that maybe the dev's have not thought of yet.

The team lead also stated that 3rd parties are not the way to go but I just wanted to throw ideas out there. Anything and everything.

Hi good folks,

We are currently building an exchange but up until now have just been focusing on the logic of the trading engine.  I have been tasked with the goal of creating a bullet proof system of cold and hot storage for the exchange. I'm not a programer but have been assigned to just collate different technologies and options to that then the development team and management can go through and discuss each option.

The ratio of getting the convenience / Timeliness / security correct is the hard but the goal is security more than .

I wanted to get some ideas from everyone on the bast ways to go around this. I got massively stung by Gox and have made it my mission never to let a goxing happen to our customers.
But the hard thing is knowing all the tech out there. Because it is all growing so fast now.

I know that http://bitcore.io have some great tools.
so does https://api.trustedcoin.com/#/
So does blockchain.info
So does Armory


Anyway
What is the best way to do this?
We have a very talented development team so nothing is off the table.


So here is one basic idea

--------
HOT WALLET
Using the blockchain.ifo API to generate addresses for each user to deposit funds.

Pay out addresses get locked in on our system and can only be changed through re uploading ID for us to cross check or 2 factor Auth.
A maximum payout per 24h.

COLD WALLET (addresses will be publicly available for audited for proof of solvency)
The Cold wallet is stored on a computer that has never been online and is used to sign transactions using a USB stick. (Armory wallet) to then send funds to the hot wallet.
The cold wallet is backed up twice a day on multiple hard drives.

I would love this to need 2 out of 3 keys so that both directors need to sign transactions every day to minimise trust.  The 3rd is with our Lawyer.
--

Cons and pros

Cons:

• Utilising a 3rd party to handle the hot wallet opens us up to trusting their security. Blockchain.info has proven them selves to be very competent and trustworthy but mistakes on their end can and could happen
• Blockchain could go offline for technical reasons leaving our customers angry at us because they can not withdrawal funds until blockchain.info is back online.
• Cold wallet USB signing could leave us open to a virus that embeds itself in a USB stick to then infect our cold storage offline computer. (need a USB condom LOL)
• Having a hot wallet leaves us open to that getting stolen

Pros

• A hot wallet lets our customers have instant withdrawal to a certain amount
• Cold storage can transfer a % of funds to the hot wallet on a daily basis + any extra that where over flow from the previousness day withdrawal requests.
• If a director is sick, goes on holiday or dies then a 3rd key is available.

Update from me.
The 100BTC is now out of limbo and back in my MtGox account.

I really get the feeling that MtGox is going to fix this problem. Fingers crossed for all of us.

Hi Guys/Girls,

I know there is another thread but I hate calling scam willy nilly. I have used gox since late 2010 and they have always been good. They have had issues with banks and stood back up, they have had issues with governments and stood back up. They took massive hits from DDOS attacks and stood back up. They have taken massive beatings from the bitcoin community and stood back up. I really hope they pull through this one to.

Saying that.

Can people please say if they withdrew BTC and if they got it or not and also if they did get it how long it took to arrive? If not how long have you been waiting?

Please no "why do people use gox" or "wow thats allot!" or memes and stuff like that, please stick to the topic.

So I withdrew 100BTC 5 days ago and it came through within 5 minutes.
I waited 24 hours and withdrew another 100 BTC, I have been waiting 3 days and still nothing on the blockchain.

I have left 2 support tickets and not been answered.

They say there has been a technical problems. Is this true? can anyone verify this?

Lets collate the following info for the community so we can get a better picture of what is going on.

1.(Did you withdrawal BTC recently)
2.(Did it come through?)
3.(If so how long did it take?)
4.(Did you get a response from support?)
5.(any other info about your withdrawal that might be of interest to others)


For me
1. Yes twice.
2. First time 5 days ago came through fast. second time with same amount and waiting now 3 days.
3. First time took 5 minutes to show on the blockchain. Second time am still waiting. is now 3 days.
4. No
5. Well Thats about it.