Mycelium Bitcoin Wallet

[birr]

I think mycelium needs to improve the way it calculates fees.  I submitted a transaction with the "normal" fee.  It took an hour to get the first confirmation.
d75f3a16f84351a7cb23e24c0b082b8acb5ce4bc33f28fbe5a77a738842020bb

There were 50 minutes without a block at that time.
That just happens, 10 minutes between blocks is only the average, it can sometimes be faster or slower.

Would be interesting to know how many sigma off the mean that 50 minutes was.

[msx]

Would be interesting to know how many sigma off the mean that 50 minutes was.

There is no sigma in an exponential probability distribution, which is the distribution of time intervals between events in a Poisson process.

In theory, the probability of an inter-block interval exceeding 50 minutes is about 0.0067, or one out of 148.

[birr]

Would be interesting to know how many sigma off the mean that 50 minutes was.

There is no sigma in an exponential probability distribution, which is the distribution of time intervals between events in a Poisson process.

In theory, the probability of an inter-block interval exceeding 50 minutes is about 0.0067, or one out of 148.

If that's true, then we should get a fifty-minute block almost every day. 

[trasla]

If that's true, then we should get a fifty-minute block almost every day. 

We had a 47 minute block today, does that count?

[birr]

If that's true, then we should get a fifty-minute block almost every day. 

We had a 47 minute block today, does that count?

Hey, I'm easy.

[dooglus]

In theory, the probability of an inter-block interval exceeding 50 minutes is about 0.0067, or one out of 148.

I'd be interested to see your working. How did you get that probability?

[vlc]

Mycelium backup process on Android allows direct share of an encrypted pdf to e.g. Dropbox, Google Drive, etc.  I use the LastPass app for managing passwords and secure docs, but there is no default option to directly share that pdf as a Secure Note with LastPass ( with attached pdf ) from Mycelium.  Is there a way to make this happen or is there an alternative wallet app I could try to achieve this with?

[msx]

I'd be interested to see your working. How did you get that probability?

Considering mining as a ‘process in which events occur continuously and independently at a constant average rate,’ I found this article https://en.wikipedia.org/wiki/Exponential_distribution and used it as a reference.  It gave me ready to use formulas for the probability distribution that describes the time between events in such a process.  The cumulative distribution function 1 - e^-λx is the probability of encountering an interval shorter than x, where

• λ = 1/β is the rate, and
• β = 10 minutes, i.e. the mean time between events.

The likelihood of an interval longer than x is then e^-x/β.  For instance, intervals longer than 5 times the mean time happen with the probability of e^-5.

[windpath]

This has been a good exercise, and I will continue learning about the cryptography, but I'm really looking for something the average guy can use (i.e. me) to easily assemble Shamir's Secret Sharing keys into a Bitcoin WIF private key, does this not exist?

I couldn't resist the temptation, so here it is now:
https://mycelium.com/assets/entropy/checksalt/sss.html.

It's not very well tested yet, though.  Also, as far as I know, iOS does not fully support in-browser video/image capture.

And its gone.... Any chance for a source link?

[cetus]

And its gone.... Any chance for a source link?

Of course; it is part of the Entropy’s github repository here: https://github.com/mycelium-com/entropy/tree/master/doc/checksalt.

The official site (mycelium.com) is undergoing a major reorganisation, and it may take a while before tools like this are accessible again.  Meanwhile, a service such as rawgit.com could be useful:
https://cdn.rawgit.com/mycelium-com/entropy/master/doc/checksalt/sss.html.

[windpath]

And its gone.... Any chance for a source link?

Of course; it is part of the Entropy’s github repository here: https://github.com/mycelium-com/entropy/tree/master/doc/checksalt.

The official site (mycelium.com) is undergoing a major reorganisation, and it may take a while before tools like this are accessible again.  Meanwhile, a service such as rawgit.com could be useful:
https://cdn.rawgit.com/mycelium-com/entropy/master/doc/checksalt/sss.html.

Thanks cetus!

[letyouearn]

Can anyone tell about my issue. I have withdrawn 0.129 btc something from satoshimines. It is withdrawn successfully from site and received on my mycelium android wallet. But its still not showing up on my wallet balance.

https://blockchain.info/tx/8aa977237cd0b868ac078045306f8ae52dfa3e52f77048393dfeb5f8f1b6cc34

[Kazimir]

When installing Mycelium, the first time it asks whether to start a new wallet or restore a previous backup.

However, once a new wallet is running, is it still possible to import a HD backup (12 words) from another wallet? Or better yet, (temporarily) switch to a different HD wallet, by entering 12 words?

The problem is: I recently installed Mycelium on my phone, started a new HD wallet, but now I suddenly doubt if my old wallet still had some bitcoins left. I still have the 12 words (for both the old wallet, and the new one). But I can't seem to open or restore or import an old wallet anymore, once a new HD wallet has been created??

[dooglus]

When installing Mycelium, the first time it asks whether to start a new wallet or restore a previous backup.

However, once a new wallet is running, is it still possible to import a HD backup (12 words) from another wallet? Or better yet, (temporarily) switch to a different HD wallet, by entering 12 words?

The problem is: I recently installed Mycelium on my phone, started a new HD wallet, but now I suddenly doubt if my old wallet still had some bitcoins left. I still have the 12 words (for both the old wallet, and the new one). But I can't seem to open or restore or import an old wallet anymore, once a new HD wallet has been created??

I don't know Mycelium well enough to answer, but you could make a new account on your Android device (in settings -> users), switch to the new user, and run Mycelium as that user. It will be like running Mycelium for the first time so you can import your old seed.

It's kind of a sledgehammer solution but it should work.

[rocks]

Is Mycelium supporting the Bitcoin Classic fork? Because it looks like it is finally going to happen, thankfully.

[BitcoinNewsMagazine]

Is Mycelium supporting the Bitcoin Classic fork? Because it looks like it is finally going to happen, thankfully.

I assume Mycelium uses Bitcoin Core on their servers, so if we get to the point a hardfork occurs it is up to Mycelium to make sure they are on the winning client. If it looks like a hardfork is imminent I will be putting all my bitcoin in cold storage on a Trezor and wait for the dust to settle before spending again. I would want my private keys offline, not kept in a phone wallet.

[hgmichna]

Here is a little hint at how Mycelium could be improved (ever so slightly).

I just learned the hard way that transfers from a Mycelium-Coinapult account can be delayed by some undefined time when they are ordered outside the Panama business hours (8 to 18 o'clock Panama time) and when the amount is higher than $10,000. Digging into the FAQ revealed that such transfers have to be approved manually.

Somebody does work the night shift there, so some transfers are quick, but some can apparently take hours.

By the way, I have yet to find out which exchange rate is used for a delayed transfer. Theoretically it can only be the rate at the time when the order is given, because otherwise Coinapult could rake in huge amounts of extra profit by delaying transfers and picking the more favorable rate for them, to the user's disadvantage. More information would be welcome.

My recommendation for Mycelium would be to show a warning when the user is about to order a transfer over $10,000 outside Panama business hours, stating that execution can be delayed.

Nobody expects such extra delays in an electronic bitcoin transfer, unless one has read the Mycelium-Coinapult FAQ "cover to cover".

[K1773R]

Here is a little hint at how Mycelium could be improved (ever so slightly).

I just learned the hard way that transfers from a Mycelium-Coinapult account can be delayed by some undefined time when they are ordered outside the Panama business hours (8 to 18 o'clock Panama time) and when the amount is higher than $10,000. Digging into the FAQ revealed that such transfers have to be approved manually.

Somebody does work the night shift there, so some transfers are quick, but some can apparently take hours.

By the way, I have yet to find out which exchange rate is used for a delayed transfer. Theoretically it can only be the rate at the time when the order is given, because otherwise Coinapult could rake in huge amounts of extra profit by delaying transfers and picking the more favorable rate for them, to the user's disadvantage. More information would be welcome.

My recommendation for Mycelium would be to show a warning when the user is about to order a transfer over $10,000 outside Panama business hours, stating that execution can be delayed.

Nobody expects such extra delays in an electronic bitcoin transfer, unless one has read the Mycelium-Coinapult FAQ "cover to cover".

was this a BTC->BTC transcation?

[hgmichna]

was this a BTC->BTC transcation?

Mycelium-Coinapult accounts can only contain US$. They call it dollar-pegged bitcoins, but that is just a nice name for it.

When you transmit them to a bitcoin address, the $ value is converted to bitcoin at some market rate.

Try it out. It is nice when it works, particularly when it works quickly. They take a percentage though.

[dooglus]

Mycelium-Coinapult accounts can only contain US$. They call it dollar-pegged bitcoins, but that is just a nice name for it.

It sounds like you are saying that dollar-pegging your bitcoins is just another name for selling your BTC for USD and storing the USD on a third party site. ie. a bad idea in general.

If Mycelium shuts down, you still have access to the bitcoins in your wallet, but if Coinapult shuts down, presumably you lose any "pegged" bitcoins you were storing with them. Is that right?