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Author Topic: Mycelium Bitcoin Wallet  (Read 580129 times)
runam0k
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February 13, 2014, 04:39:20 PM
 #421

Regarding the spend from cold storage feature, if I spend some but not all of the funds on a paper wallet, where does the change go?
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February 13, 2014, 04:57:08 PM
 #422

 Mycelium Bitcoin Wallet I like your product! I gave it 5 stars! Keep updating!

 
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Newar
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February 13, 2014, 05:10:45 PM
 #423

Regarding the spend from cold storage feature, if I spend some but not all of the funds on a paper wallet, where does the change go?

Back to the paper wallet.

OTC rating | GPG keyid 1DC91318EE785FDE | Gliph: lightning bicycle tree music | Mycelium, a swift & secure Bitcoin client for Android | LocalBitcoins
Jan
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February 13, 2014, 07:07:09 PM
 #424

Hi MyCelium people, good work on trading stuff but I heard you're using a tx radar for giving confidence to traders who receive BTC.

I think this is an extremely bad idea, as txs can be replaced after 100% propagation has been achieved by sending higher fee txs to replace the one you made. This attack only needs to work 1% of the time to be profitable but in reality can work much more (maybe even 100%) if pulled off correctly. You don't even need to tell the whole BTC network, just a few specific miners.

For instance if I submit my replacement tx to eligius using their web interface, then make the trade before eligius mines a block, if eligius mines a block it won't include the tx that got 100% propagation because that would've been rejected by eligius.

I suggest you remove this feature, and only using it for senders of BTC (not recipients).

The localbitcoins thing otherwise looks excellent. Thanks for this contribution. I don't mean to beat on this parade and be so negative, I like your work.
Thanks for your input Amir. The transaction confidence is not only based on network propagation, and never reaches 100%.
Here is what we look at:
- network propagation. We are listening to 500+ nodes
- length of the chain of unconfirmed transactions. If you tx depends on one unconfirmed output the confidence is halved. Halving for each link in the chain
- size of the fee of this tx and whatever unconfirmed tx it depends on
- Rela-time double-spend detection. If we detect one the confidence goes to zero.

We boil that down to a confidence number which never reaches 100%, and let the user take it into consideration when figuring out whether he wants to spend the time it takes to confirm with the seller. In the end it is an instrument that the buyer can use to help him judge the situation along with a number of other factors. Maybe he knows the seller, or he can see he has a five star reputation and 100 deals under his belt. He might also consider the seller a dodgy character and wait it out.

In the end there is no 100% guarantee, not even when the transaction has confirmed.

Mycelium let's you hold your private keys private.
Jan
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February 13, 2014, 07:52:57 PM
 #425

Wow, this really took off on reddit: http://www.reddit.com/r/Bitcoin/comments/1xq6wq/ann_myceliums_new_local_trader_feature_will_let/
Please up vote :-)

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Portnoy
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February 13, 2014, 09:08:55 PM
 #426

Hi MyCelium people, good work on trading stuff but I heard you're using a tx radar for giving confidence to traders who receive BTC.

I think this is an extremely bad idea, as txs can be replaced after 100% propagation has been achieved by sending higher fee txs to replace the one you made. This attack only needs to work 1% of the time to be profitable but in reality can work much more (maybe even 100%) if pulled off correctly. You don't even need to tell the whole BTC network, just a few specific miners.

For instance if I submit my replacement tx to eligius using their web interface, then make the trade before eligius mines a block, if eligius mines a block it won't include the tx that got 100% propagation because that would've been rejected by eligius.

I suggest you remove this feature, and only using it for senders of BTC (not recipients).

The localbitcoins thing otherwise looks excellent. Thanks for this contribution. I don't mean to beat on this parade and be so negative, I like your work.
Thanks for your input Amir. The transaction confidence is not only based on network propagation, and never reaches 100%.
Here is what we look at:
- network propagation. We are listening to 500+ nodes
- length of the chain of unconfirmed transactions. If you tx depends on one unconfirmed output the confidence is halved. Halving for each link in the chain
- size of the fee of this tx and whatever unconfirmed tx it depends on
- Rela-time double-spend detection. If we detect one the confidence goes to zero.

We boil that down to a confidence number which never reaches 100%, and let the user take it into consideration when figuring out whether he wants to spend the time it takes to confirm with the seller. In the end it is an instrument that the buyer can use to help him judge the situation along with a number of other factors. Maybe he knows the seller, or he can see he has a five star reputation and 100 deals under his belt. He might also consider the seller a dodgy character and wait it out.

In the end there is no 100% guarantee, not even when the transaction has confirmed.


Thanks for the quick response to this, and any and all other concerns and questions people have in regard to your wallet and other services.   Smiley
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February 16, 2014, 07:41:18 PM
 #427

That's a really cool feature.  I love this wallet.  Now if only I could sign messages with it...

I implemented message signing for mycelium. It is very very likely that it is part of the next feature release.
We also use signing for other stuff internally

You'll get both, the cool feature, and message signing Cheesy

Well doesn't that just beat all? 

Indeed.

I love this wallet. Smiley

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
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The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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February 18, 2014, 06:20:44 PM
 #428

Please consider adding BitcoinAverage as a price source, and possibly as the default one - that would automatically resolve any temporary issue with any exchange site.
mstevenson1972
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February 19, 2014, 05:32:08 AM
 #429

"Lets talk bitcoin" said this was already active but I can not find the “Transaction Confidence” graph and no update in google play app?
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February 19, 2014, 09:06:56 AM
 #430

"Lets talk bitcoin" said this was already active but I can not find the “Transaction Confidence” graph and no update in google play app?
no it is not active yet. we will publish testnet versions soon™
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February 19, 2014, 03:12:53 PM
 #431

Please consider adding BitcoinAverage as a price source, and possibly as the default one - that would automatically resolve any temporary issue with any exchange site.


This was suggested before... and rejected as they do not want to be dependent on a third party.

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MarcoPon
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February 19, 2014, 03:22:12 PM
 #432

This was suggested before... and rejected as they do not want to be dependent on a third party.

Oh, didn't know or remember. Thanks!
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February 20, 2014, 03:11:10 PM
 #433

as requested, we now have message signing.

live on testnet and github. if YOU (our testers) give us the feedback, we can start to roll that out soon.

https://plus.google.com/107839384289577985803/posts/PTQ9kgWnqBK

https://github.com/mycelium-com/wallet/releases/tag/v1.1.7

if possible, test message signing with bitcoin-qt in testnet and with other clients that have testnet support.
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February 21, 2014, 03:15:49 PM
 #434

Next release will feature Coinbase, BitPay and Kraken as exchange sources (in addition to Bitstamp, BTC China and BTC-E). MtGox however is going out.
Would you be upset if MtGox is no longer available?


Mycelium let's you hold your private keys private.
ZephramC
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February 21, 2014, 03:20:05 PM
 #435

Next release will feature Coinbase, BitPay and Kraken as exchange sources (in addition to Bitstamp, BTC China and BTC-E). MtGox however is going out.
Would you be upset if MtGox is no longer available?



I would not miss it.
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February 21, 2014, 03:23:13 PM
 #436

Would you be upset if MtGox is no longer available?

Absolutely not!
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February 21, 2014, 06:51:59 PM
 #437

Do you plan on supporting BIP 70-73, and when?
westkybitcoins
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February 21, 2014, 07:58:02 PM
 #438

Would you be upset if MtGox is no longer available?

Absolutely not!

+1

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
bigbeninlondon
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February 21, 2014, 09:47:08 PM
 #439


I personally wouldn't miss it, and I definitely think it should not be included when calculating the averages, but until it has truly tanked, some of your customers may want it in their option list.
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February 22, 2014, 01:16:12 AM
 #440

Next release will feature Coinbase, BitPay and Kraken as exchange sources (in addition to Bitstamp, BTC China and BTC-E). MtGox however is going out.
Would you be upset if MtGox is no longer available?



Nope. Permaban, as they've had so many strikes, they should be out of bitcoindom until the heat death of the universe.

Saying that you don't trust someone because of their behavior is completely valid.
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