Maand: april 2016

I started trading and buying Bitcoins for a while now, and realised: I have multiple wallets and multiple websites where I have bitcoins/litecoins.

I think most of the people, including me, want use Bitcoin in there day to day life, and also invest in Bitcoin and Litecoin.

For this, which setup is recommended?

1. Is it safe yet to store, lets say, 50 to 100 Bitcoins at some online service, or should I, after purchasing, transferring it to a
   hardware wallet?
2. Are there any sites which are buying Bitcoins or is it always from person to person (therefore, Volume might be a problem when investing)
3. All recommended services and wallets also have as many open “recently got hacked” reddit threads. Which ones have to be in a basic
   setup?

In my perfect world, I have

• A hardware wallet with my Bitcoin investment
• A hardware wallet with Litecoin
• A mobile app for day-to-day bitcoins
• A trusted online service where I go to buy Litecoin/Bitcoin and also
  sell it

Is my perfect world correct, are the big tradings time over or yet to come? From a tech perspective, Bitcoin is quite old, but there are still just low-quality apps out there.

Any guidance?

How do I go about using words I pick in a trezor seed? I only want words that I select and in an order I select.

I’m not worried about this being a less secure way to generate a seed. I will be doing all this off line with a disposable computer if necessary. I want to use a custom word list in conjunction with some custom math that with generate the correct order of my seed.

I have yet to find a way to do this with my trezor. I personally think that my backup seeds are safer in my head then on a piece of paper.

I tried generating public/private keys with a custom mnemonic with custom words. Didn’t work.

I tried generating public/private keys with a custom mnemonic with a word list generated from myTrezor.com (A-Z, excluding X, approximately 10 words to choose from per letter)[I did this by typing in each letter and copying the choices from the drop down] Didn’t work. [Error: Action was interrupted Invalid mnemonic, are words in correct order?]

Shouldn’t a valid public/private key pair be generated regardless of the words I pick and the order I put them in?

Segregated Witness (SegWit) is well-along the way to being implemented and deployed as a soft-fork.

Facts:

• SegWit eliminates most forms of transaction malleability.
• Discounts input scripts in comparison to other block content.
• Adds a new function/constraint to the Coinbase transaction by requiring it to contain the root of the SegWit data.
• Provide a capacity increase upon adoption.
• Makes future changes to Bitcoin Script easier.

Questions:

• What other methods could achieve the above benefits?
• Why was Segregated Witness chosen instead?
• Is there an alternative that is less complex to introduce when regarding the complete picture, i.e. technical, economical, and social aspects?

Intent: The above is a criticism that is frequently stated in parts of the Bitcoin community, and I hope to provide an anchor for a visible collection of expertise on the matter.

In his recent talk, Andreas Antonopoulos said “By probably the end of 2016, Bitcoin will have a hybrid proof-of-work/proof-of-stake system.” and then continues to label the Lightning network as a POS system.

Is the Lightning network a proof-of-stake system?

I’ve got a multisig 2of2 wallet in copay.

I’ve one wallet correct but have lost second wallet and only have 11 of the 12 words of the seed.I’m pretty sure I miss the last one.
I’ve got some of the first created adresses and trying to recover using btcrecover but throws an error:

The entered address is invalid (not a Bitcoin P2PKH address; verson byte is 0x05)

Copay uses P2SH addresses for multisig addresses and I don’t know hot to proceed.

Any hints?

I sent 1.5BTC in the usual way from my Armory wallet, but the transaction shows in gray as if it is still pending. When I click more details it says “Not in the blockchain yet”. If I search for the transaction on blockchain.info, there is no transaction recorded against the wallet ID I was sending to. I’ve also tried to send another small transaction a few times for 0.01 and 0.1 BTC to see if that works, but now I just keep getting an error.

The transaction that you just executed, does not appear to have been accepted by the Bitcoin network yet. This can happen for a variety of reasons.

On some occasions the transaction actually will succeed and this message is displayed prematurely. To confirm whether the the transaction actually succeeded, you can try this direct link to blockchain.info:

https://blockchain.info/tx/e7c8737734ddba96337f…

If you do not see the transaction on that webpage within one minute, it failed and you should attempt to re-send it. If it does show up, then you do not need to do anything else — it will show up in Armory as soon as it receives one confirmation.

If the transaction did fail, it is likely because the fee is too low. Try again with a higher fee. If the problem persists, go to “Help” and select “Submit Bug Report”. Or use “File” -> “Export Log File” and then attach it to a support ticket at https://bitcoinarmory.com/support

However, the link to the armory support page is no longer active.

IN SUMMARY:
• The total amount in my wallet was reduced by 1.5001 BTC
• In the Armory transaction list, the 1.5001 BTC shows in gray as if it is still pending.
• I am unable to send any more bitcoins.

What do I need to do to retrieve the 1.5001 BTC to my wallet? Any help much appreciated.

Since the addresses are hashes of a public portion of a public/private ECDSA keypair, what would happen to two different people with different keys that hashes into the same address?
How would transactions to those addresses be handled?