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Author Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer  (Read 449648 times)
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eastwind_ja
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April 13, 2016, 01:26:00 PM
 #461

so confused by the process of donating

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eastwind_ja
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April 13, 2016, 01:28:06 PM
 #462

what is the meaning of " do not donate from a multisig wallet."  and no need to regist for an account?

Evil-Knievel
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April 13, 2016, 01:36:36 PM
 #463

what is the meaning of " do not donate from a multisig wallet."  and no need to regist for an account?

I have also just read this "update" to the important hints section.
The issue is that some wallets will send from a so-called multisig wallet, for example if you have a coinbase wallet.
If I recall it correctly its a 2-of-3 multisig wallet of which you have 2 keys and Coinbase itself has the third key.
The text you quoted means that while the original multisig vault is 2-of-3 you in fact only need one of these keys to redeem your XEL.
There is also an addition on the website stating that some measures are planned to be taken to avoid that "Coinbase" itself can redeem your XEL.
This is something you should know and accept when donating from a multisig wallet.

@Lannister: Why not just use 2-of-3 in those cases? This is not yet clear to me. Should not be a problem from the technical point of view.
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April 13, 2016, 01:38:26 PM
 #464

what is the meaning of " do not donate from a multisig wallet."  and no need to regist for an account?
If my wallet has different address , Can I donate from one of my wallet address?

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April 13, 2016, 01:56:47 PM
 #465

@Lannister: Why not just use 2-of-3 in those cases? This is not yet clear to me. Should not be a problem from the technical point of view.

Ideed, I can't think of any reason not to do it this way. I have corrected the two passages on the website.

No, I will not disclose my real name on the Internet. The very simple reason I’m anonymous is so that I can talk freely about a free web. One mistake people often make is having the faulty assumption that knowing my real name or my association with a respected person, group or organization might get them to trust me more. In fact, I have no authority here. Elastic Project is a loosely associated group of developers which constantly changes over time. If you prefer projects with a more centralized structure, then please move on. Specifically, I kindly ask you to refrain from any messages that try to convince me of the contrary. My time is too valuable to be wasted with the same discussion again and again.
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April 13, 2016, 01:59:01 PM
 #466

Top!
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April 13, 2016, 02:05:46 PM
 #467

what is the meaning of " do not donate from a multisig wallet."  and no need to regist for an account?

I have also just read this "update" to the important hints section.
The issue is that some wallets will send from a so-called multisig wallet, for example if you have a coinbase wallet.
If I recall it correctly its a 2-of-3 multisig wallet of which you have 2 keys and Coinbase itself has the third key.
The text you quoted means that while the original multisig vault is 2-of-3 you in fact only need one of these keys to redeem your XEL.
There is also an addition on the website stating that some measures are planned to be taken to avoid that "Coinbase" itself can redeem your XEL.
This is something you should know and accept when donating from a multisig wallet.

@Lannister: Why not just use 2-of-3 in those cases? This is not yet clear to me. Should not be a problem from the technical point of view.

@Lannister, this is frustrating. I donated with a 2 of 3 multisig wallet, which is not coinbase. I donated prior to any statement being made on the website about multisig wallets, also asked and was given a reply by E-K for this exact scenario. The reply stated that the private key, in the end, would be all that is necessary, which I have along with the 2nd "back-up" key.

I don't know why multisig wallets would be discarded, but even if they are, what about donations made prior to the website update, or really prior to today, since this topic is just now coming up for discussion?

These are direct questions coming from a place of frustration, but, note, I am still impressed with the project so far.

I have over 2 bitcoin at stake.   
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April 13, 2016, 02:09:11 PM
 #468

@uhhhhwhat: Just saw it's back to normal. Multisig wallets are absolutely fine.
So right now, if you have received XEL to a multisig wallet which is 2-of-3 you need 2 private keys to redeem those. Just as if you would redeem Bitcoin located in this multisig wallet. Is this fine for you? I mean everyone surely is open for discussion.
eastwind_ja
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April 13, 2016, 02:19:38 PM
 #469

no need to regist on the "http://www.elastic.pro/crowdsale"    ,, how can I get XEL if i donate

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April 13, 2016, 02:25:18 PM
 #470

@uhhhhwhat: Just saw it's back to normal. Multisig wallets are absolutely fine.
So right now, if you have received XEL to a multisig wallet which is 2-of-3 you need 2 private keys to redeem those. Just as if you would redeem Bitcoin located in this multisig wallet. Is this fine for you? I mean everyone surely is open for discussion.

Of course that's fine with me.

So to be clear, in the future there will be some sort of XEL wallet developed, somehow I will input my 2 private keys that belong to my 2 of 3 bitcoin wallet, and I will have access to my XEL to spend on a problem solving computer cluster or to then exchange back for bitcoin.

However the technical details are worked out, I will need my 2 private keys from the 2 of 3 multisig bitcoin wallet and I will be fine.  

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April 13, 2016, 02:28:28 PM
 #471

No membership or registration is required. Your XEL are simply credited to the public key of the first input in your bitcoin transaction. If you do not understand the instructions on the website entirely, you might want to wait for the howto videos.

No, I will not disclose my real name on the Internet. The very simple reason I’m anonymous is so that I can talk freely about a free web. One mistake people often make is having the faulty assumption that knowing my real name or my association with a respected person, group or organization might get them to trust me more. In fact, I have no authority here. Elastic Project is a loosely associated group of developers which constantly changes over time. If you prefer projects with a more centralized structure, then please move on. Specifically, I kindly ask you to refrain from any messages that try to convince me of the contrary. My time is too valuable to be wasted with the same discussion again and again.
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April 13, 2016, 02:30:19 PM
 #472

Quote
However the technical details are worked out, I will need my 2 private keys from the 2 of 3 multisig bitcoin wallet and I will be fine.

Yes, you can rely on that 100%.
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April 13, 2016, 02:32:45 PM
 #473

Please tell me more about the crowdsale
I read the information on the website and that I understand
1.this list on btc address from section - donate now
2.wait end
and it's all? how do I then get their XEL if I'm not registered and do not leave your e-mail for communication? (Will transfer funds to blockchain.info)
I myself will have somewhere to seek public key? or it will come somewhere? and what I do with it then

If you have the private key of the bitcoin address you sent the money from, this should be enough.

They will be sending XEL to the equivalent address on the XEL blockchain, generated by those private keys you already own from the btc blockchain.

They will also (hopefully) make it easy to import those private keys into the XEL client and then you'll see your coins once the client syncs.

At least it better like I'm describing be or my donation went down the drain.
 seems like that  the dev team will get my BTC  priveate key if I import my private key into the xel client.   doesn't that ?  and how to generate equivalent address of my btc wallet  according my private key ?

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April 13, 2016, 02:37:31 PM
 #474

seems like that  the dev team will get my BTC  priveate key if I import my private key into the xel client.   doesn't that ?  and how to generate equivalent address of my btc wallet  according my private key ?

No, your private key will never leave your posession. There will be an easy "swipe" or "import" function where you can "swipe" or "import" private keys into your wallet. You will need to "sign" a transaction with your private key (we will try to make this process as easy as possible), but you will never be asked to transmit your private key anywhere as the client will run on your computer locally.
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April 13, 2016, 02:43:27 PM
 #475

No membership or registration is required. Your XEL are simply credited to the public key of the first input in your bitcoin transaction. If you do not understand the instructions on the website entirely, you might want to wait for the howto videos.

Yea, I don't really understand how the redemption process works, or will work. I'll wait for the video.
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April 13, 2016, 02:54:11 PM
 #476

seems like that  the dev team will get my BTC  priveate key if I import my private key into the xel client.   doesn't that ?  and how to generate equivalent address of my btc wallet  according my private key ?

No, your private key will never leave your posession. There will be an easy "swipe" or "import" function where you can "swipe" or "import" private keys into your wallet. You will need to "sign" a transaction with your private key (we will try to make this process as easy as possible), but you will never be asked to transmit your private key anywhere as the client will run on your computer locally.
 ok ,  so you mean I need not to register on the web, just send btc to the donation address through my  wallet, then only need to wait for the launch. Am I right ?   and can I use a lightened wallet or blockchain.info wallet to donate ,  then  no need to download 80G btc wallet blocks.dat

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April 13, 2016, 02:58:14 PM
Last edit: April 15, 2016, 09:35:53 AM by Evil-Knievel
 #477

ok ,  so you mean I need not to register on the web, just send btc to the donation address through my  wallet, then only need to waiting for the launch. Am I right ?   and can I use a lightened wallet  for donating ,   no need to download 80G btc wallet blocks.dat

As long as its possible to export the private key, any lightweight wallet should be fine.

PRO TIP: Bitcoins usually are split among multiple change addresses.
To keep it more simple, I would first send all coins to one address to avoid that I have multiple inputs in one transaction, then export the private key for that address and store it somewhere safe, and then donate from that address.

That is how I would do it. Otherwise it would be required to look up the transaction in a block explorer, check which address appears first in the input list, and make sure to back up the private key of this one.
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April 13, 2016, 03:12:57 PM
 #478

OK ,thanks , got it

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April 13, 2016, 03:13:24 PM
 #479

ok ,  so you mean I need not to register on the web, just send btc to the donation address through my  wallet, then only need to waiting for the launch. Am I right ?   and can I use a lightened wallet  for donating ,   no need to download 80G btc wallet blocks.dat

As long as its possible to export the private key, any lightweight wallet should be fine.

PRO TIP: Bitcoins usually are split among multiple change addresses.
To keep it more simple, I would first send all coins to one address to avoid that I have multiple inputs in one transaction, then export the private key for that address and store it somewhere safe, and then donate from that address.

That is how I would do it. Otherwise it would be required to look up the transaction in a block explorer, check which address appears first in the input list, and make sure to back up the private key of this one.
ok ,got it ,thanks

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April 13, 2016, 04:43:30 PM
 #480

Interesting project ,  I just want to know why the dev transfer btc ?
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