Running Bitcoind – BitcoinWiki

Particl Marketplace: Where Sellers Meet Buyers

Particl Marketplace: Where Sellers Meet Buyers
People had been speculating since the dawn of crypto when the world’s largest online marketplaces, the ones of the Amazon caliber like eBay, Etsy or AliExpress, and, well, Amazon itself, would start to accept cryptocurrencies. There were a slew of rumors, opinions, and theories thickly interspersed with false reports popping up here and there of Amazon and its little cousins being on the verge of embracing cryptocurrencies. On top of that, someone has actually posted a petition on change.org to add Ether to Amazon as a payment method.
by StealthEX
Long story short, that was a waste of time. High hopes fell flat, and people lost religion. But not all. As the common wisdom goes, when hope dies, action begins. This exposition describes one such effort which tries to bring to fruition the idea of a decentralized marketplace for trading goods and services. And as you might have already figured it out, with a cryptocurrency as a means of payment. So let’s welcome Particl Marketplace and see what it has to offer – and what Amazon has missed.

What is it, in simple words?

Particl Marketplace is an online marketplace where you can trade goods and services. Not a big deal, you may think. However, what distinguishes it from places like Amazon as well as cryptocurrency-enabled marketplaces is the decentralized nature of purchases on Particl. You can think of it as a variety of a decentralized cryptocurrency exchange (aka DEX) where trades are being conducted on-chain. But in case of Particl, it is goods and services that are being traded, not fiat or crypto, with deals on-chain as well, fully encrypted and decentralized.
Particl is a global peer-to-peer privacy-centered marketplace that uses an automated two-party escrow system. It is crypto-agnostic and designed to work with any cryptocurrency, creating a secure, highly-scalable environment supported by a privacy-focused blockchain-based platform. The team behind the project sees its mission in developing “a new decentralized, private and democratic economy” that is governed by the network of its users, with no central authority or middleman getting in the way.
In the project developers’ own words, Particl enables everyone to participate in a free, anonymous exchange of all kinds of goods, without paying any fee and regardless of geographical location. To be sure, you are already thinking about Silk Road and its dark fate, and that the government is going to crack down monumentally on Particl one day. Well, the outcome may vary as the payments on the platform are made using its own cryptocurrency PART, with its laser focus on privacy and anonymity. But more on this later.

How did it grow up?

The development of the Particl project started in early 2017 with the release of the white paper describing the team’s vision for the marketplace, which was shortly followed by a successful seed funding that brought in enough funds ($750,000) to support the development of the project for a year (it turned out sufficient to last for over two years).
These donations helped to establish the Particl Foundation, a non-profit Swiss organization with the goal of providing legal protection for the project to ensure its sustained development and compliance with government regulations. It receives 10% of all the staking rewards generated on the Particl network, making the project self-sustainable and free for most uses.
Unlike other such projects in the crypto arena, Particl has been using its own blockchain from day one, which happened to be July 17, 2017. It was specifically designed to be crypto agnostic by supporting and working with any cryptocurrency. Additionally, it supported the smart contract tech out of the box, giving users an ability to build all kinds of decentralized applications (dApps) that can be directly integrated into the Particl marketplace.
On May 31, 2018, the Particl Marketplace, the Holy Grail of the entire endeavor, was made available for alpha testing on the testnet of the project, which later split into development and stable branches. It went live with the mainnet release of the Particl Open Marketplace on August 12, 2019, which featured Particl Desktop 2.0.0, a client-side application providing user interface and built-in wallet functions.
On November 25, 2019, the Particl Desktop 2.3.0 client was released that enabled Bitcoin payments and marked the introduction of untraceable transactions. With the help of the new in-wallet exchange module, everyone can easily swap their bitcoins for the native PART coin. Moreover, the module allows seamless integration of third-party accountless exchange services right into the marketplace, with StealthEX being one of them.

How is it different from other marketplaces?

The common solution many P2P marketplaces implement to protect buyers and sellers from the other party failing to honor their end of the bargain is through third-party escrow, where the “third-party” in the majority of places and cases is the platform itself that the market participants must mutually trust. In short, it is a single point of failure. And the selling (pardon the pun) point of the entire Particl’s marketplace is its decentralized escrow, which is a thing entirely between the two parties engaged. No middlemen allowed here!
And these are not empty words. Particl implements the concept best known as Mutually Assured Destruction (aptly shortened as MAD), a military doctrine you are certainly familiar with, and probably even afraid of, that consists in a mutual destruction of two belligerent parties in an all-out nuclear holocaust. If you are curious, the idea stems from the game theory and has a lot to do with the Nash Equilibrium, of John Nash’s fame. In a nutshell, Particl removes the need for a trusted escrow agent by introducing MAD escrow smart contracts.
A MAD escrow contract allows to lock funds in a multi-signature address that can be released only if all the parties sign off on the transaction. So both the seller and the buyer lock in the contract an agreed amount for a specified period of time, with the buyer also depositing the payment for the items purchased. The escrowed funds are released when both parties confirm the fulfillment of the agreement. Should one party break the terms, the funds remain locked for good causing a mutual financial loss until both parties agree to sign off.
Another crucial aspect of Particl Marketplace is its end-to-end privacy. The problem with conventional marketplaces acting as an escrow agent is that the communication between the parties should be open to the agent for it to serve as an arbitrator. With Particl, it is no longer required, and all messages between the buyer and the seller are encrypted. Despite being public, only their recipient can decrypt them, which effectively makes messages untraceable.
This is also where the PART coin turns up quite handy. It enables three different privacy modes, and with the most secure mode, the Anon mode, PART transactions utilize the RingCT privacy protocol, which hides both the amount transferred and the identity of the parties transacting. Accordingly, every part of the entire Particl trading environment is thoroughly decentralized, and the full anonymity of market participants is maintained at all times, making the platform a completely trustless marketplace. Big Brother is no longer watching you.
Aside from that, you can stake PART and generate a source of passive income for yourself. Particl uses a custom Proof-of-Stake consensus protocol, allowing you to get a piece of the pie in the form of new coins created at each block according to the scheduled inflation process. The annual inflation rate is initially set to 5% and goes down 1 percentage point every year until it finally floors at 2% indefinitely. Moreover, these rates are a bare minimum as they assume that all PART coins have been staked. Otherwise, the income will be bigger and better as the same rewards are paid to fewer coins.
Additionally, your passive income through staking PART will be augmented by the fees generated through the everyday marketplace operations. Whether it is network fees collected via PART transactions or marketplace listing fees paid by the sellers, all of them contribute to the stakers’ rewards. At the end of the day, staking PART can turn into a profitable business once the Particl platform starts to attract more traffic. In simple words, the more popular the market gets, the more fees it generates, the more coins the stakers earn.
As PART is a standalone cryptocurrency, it can be used outside Particl Marketplace as well. So if you plan on using it for purposes other than eCommerce, it is traded on several exchanges, for example, HitBTC and Bittrex, with more exchanges to list PART in the future. There are native Particl wallets available for storing PART such as Particl Qt with Ledger support, Particl-cli, and Particl Copay Wallet, with the latter available for both the desktop and the mobile. There is also a third-party multicurrency Flare Wallet, enabling cold staking for Particl.
Running Particl is a collective effort, which means no operational costs and no company bagging profits from it. The marketplace buyers don’t pay any commissions other than tiny network confirmation fees, while the sellers are only charged a small listing fee to keep spam listings to a minimum. This creates a highly competitive environment, with the sellers making more profits and the buyers having access to cheaper goods and services as a result.

What’s in the pipeline?

The next major release of the Particl Marketplace should have been Particl Desktop 2.4.0, but it was later rebranded as Particl Desktop 3.0 to reflect its breakthrough nature. It is set for release in the second half of 2020 and will enable the addition of user-created markets and storefronts, effectively turning the Particl marketplace into a network of specialized markets.
And if you think about it, that makes perfect sense. Say, you have a social network account highly merited and full of karma that you want to sell, whatever your reasons might be. Then creating a dedicated market for trading such accounts privately and securely may look extremely appealing to you. Whether it is the right thing to do is another matter, of course.
Kidding aside, it is obviously not about selling or offering something that the society on the whole doesn’t approve of or frowns upon. If you are a freelancer, for example, a graphics designer or a translator, you would be certainly interested in the future freelancer markets – along with your potential employers. Put simply, birds of a feather should flock together.
To keep things in perspective, popular freelancer markets that exist today charge up to 10-20% of what you would get from your client if you negotiated directly. All in all, establishing communities across the marketplace seems to be the next logical step in the natural evolution and growth of the platform. In fact, it is a little surprising that the Particl team didn’t come up with this idea earlier.
Meanwhile, we wish Particl success and good luck in achieving their goals and aspirations.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to PART.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your PART coins!
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/08/26/particl-marketplace-where-sellers-meet-buyers/
submitted by Stealthex_io to StealthEX [link] [comments]

Facebook’s Libra won’t be as power-hungry as Bitcoin

Libra, Facebook’s new cryptocurrency, is expected to have a smaller environmental footprint compared to some of its more notorious blockchain brethren, including bitcoin, according to experts. Its energy demands are projected to be more like those of existing data centers — which, while still demanding, aren’t quite as energy-hungry as mining bitcoins.
The currency hasn’t launched yet, so it’s hard to know how those claims will stack up against reality. But its design — more centralized than most cryptocurrencies — means that Libra will likely draw less energy. Unlike its more decentralized peers, only a few trusted members of the Libra Association, the centralized hub for the currency, can create Libra.
AN ORDER OF MAGNITUDE MORE EFFICIENT THAN BITCOIN
“This is an order of magnitude more efficient than bitcoin will ever be,” says Ulrich Gallersdörfer, a researcher at Technical University of Munich focused on blockchain research. Gallersdörfer was the co-author on a recent paper in Joule30255-7) finding that bitcoin operations emit more climate-warming gas than the country of Jordan.
Bitcoin uses so much energy because people who want to hold the cryptocurrency have to compete for it. That means bitcoin mining operations need huge amounts of computing power to snag a single coin, and to stay in the running, they all need to be running a set of complicated problems all at once. That uses a huge amount of energy every year — in 2018, researchers estimated that bitcoin used about as much energy as Ireland.
By contrast, Libra is designed so that an algorithm issues units of the cryptocurrency in proportion to the size of a company’s initial deposit into the system. That’s still a lot to keep track of, but it’s nowhere near as complicated as a mining operation. Instead, it’s more like… normal data centers. Now, data centers draw power, too. In fact, data centers accounted for 2 percent of the total US energy usage in 2014, a 2016 study published by the DOE found. And they’re also responsible for about as many carbon dioxide emissions as the airline industry. But despite those drawbacks, these specially designed warehouses of servers are the rocks on which tech giants like Facebook continue to build and expand their digital empire.
“Facebook or other companies will have to set up servers, will have to run the software, will have to validate transactions. But that’s not really anything different to running regular services for Facebook.com or for WhatsApp,” Gallersdörfer says.
A USEFUL WAY TO GENERALLY CONSIDER HOW TO MAKE DATA CENTERS LESS ENVIRONMENTALLY TERRIBLE
Facebook has made concerted efforts to make their centers more sustainable, but the energy demand prompted by Libra might be a useful way to generally consider how to make data centers less environmentally terrible. The easiest thing to do is make sure that the existing resources are used efficiently — so that might mean more efficient hardware. But it also means considering the vast amounts of water used to cool servers: in a lot of cases that fresh water flows through the system and gets discarded, a horrifying waste, especially in areas with water shortages.
One way to meet the challenge in a water-scarce world is to reuse water as often as possible, says Emilio Tenuta, vice president of sustainability at Ecolab. But water can’t be reused forever in cooling systems. As it gets heated and moves through the pipes, salts and other contaminants — think of scale from hard water forming in a bathroom — can build up in the machinery, making it less efficient. But by constantly monitoring and treating the water as it goes through a system, companies like Ecolab hope they can recirculate water through cooling systems as often as possible, reducing the amount of water used in data centers overall.
Making existing centers more efficient is great, but products on the scale of Libra could mean new data centers — and where they are matters. Companies could save themselves (and the world) a lot of environmental angst by simply looking for better locations to put data centers in the first place, Katrina Kelly-Pitou says.
THE AREA WHERE WE’RE FAILING, IN THE UNITED STATES, IS CLEANING OUR POWER SUPPLY
Kelly-Pitou, an urban systems strategist with architecture and engineering firm SmithGroup, says that companies should look for places with trained software engineers — to keep the servers running smoothly — and abundant, low-carbon power sources. By relying on a nearby hydroelectric dam, wind farm, or nuclear plant instead of coal or natural gas, data centers could dramatically cut their carbon footprint. That’s because ultimately, every data center relies on the energy grid. And that’s where many current data centers are falling short.
“The area where we’re failing, in the United States, is cleaning our power supply, and ensuring that we have clean energy to power the economic development that we want,” Kelly-Pitou says.
Libra hasn’t launched. We don’t know if it will take off. But for it to even get off the ground, it will need data centers — and developing greener data centers, and a lower-carbon energy grid to power them is something that could pay off no matter what.
submitted by VoltzUK to u/VoltzUK [link] [comments]

Secure paper wallet tutorial

This is my handout for paranoid people who want a way to store bitcoin safely. It requires a little work, but this is the method I use because it should be resistant to risks associated with:
  1. Bad random number generators
  2. Malicious or flawed software
  3. Hacked computers
If you want a method that is less secure but easier, skip to the bottom of this post.
The Secure Method
  1. Download bitaddress.org. (Try going to the website and pressing "ctrl+s")
  2. Put the bitaddress.org file on a computer with an operating system that has not interacted with the internet much or at all. The computer should not be hooked up to the internet when you do this. You could put the bitaddress file on a USB stick, and then turn off your computer, unplug the internet, and boot it up using a boot-from-CD copy of linux (Ubuntu or Mint for example). This prevents any mal-ware you may have accumulated from running and capturing your keystrokes. I use an old android smart phone that I have done a factory reset on. It has no sim-card and does not have the password to my home wifi. Also the phone wifi is turned off. If you are using a fresh operating system, and do not have a connection to the internet, then your private key will probably not escape the computer.
  3. Roll a die 62 times and write down the sequence of numbers. This gives you 2160 possible outcomes, which is the maximum that Bitcoin supports.
  4. Run bitaddress.org from your offline computer. Input the sequence of numbers from the die rolls into the "Brain Wallet" tab. By providing your own source of randomness, you do not have to worry that the random number generator used by your computer is too weak. I'm looking at you, NSA ಠ_ಠ
  5. Brain Wallet tab creates a private key and address.
  6. Write down the address and private key by hand or print them on a dumb printer. (Dumb printer means not the one at your office with the hard drive. Maybe not the 4 in 1 printer that scans and faxes and makes waffles.) If you hand copy them you may want to hand copy more than one format. (WIF and HEX). If you are crazy and are storing your life savings in Bitcoin, and you hand copy the private key, do a double-check by typing the private key back into the tool on the "Wallet Details" tab and confirm that it recreates the same public address.
  7. Load your paper wallet by sending your bitcoin to the public address. You can do this as many times as you like.
  8. You can view the current balance of your paper wallet by typing the public address into the search box at blockchain.info
  9. If you are using an old cell phone or tablet do a factory reset when you are finished so that the memory of the private keys is destroyed. If you are using a computer with a boot-from-CD copy of linux, I think you can just power down the computer and the private keys will be gone. (Maybe someone can confirm for me that the private keys would not be able to be cached by bitaddress?)
  10. To spend your paper wallet, you will need to either create an offline transaction, or import the private key into a hot wallet. Creating an offline transaction is dangerous if you don't know what you are doing. Importing to a client side wallet like Bitcoin-Qt, Electrum, MultiBit or Armory is a good idea. You can also import to an online wallet such as Blockchain.info or Coinbase.
Trusting bitaddress.org
The only thing you need bitaddress.org to do is to honestly convert the brainwallet passphrase into the corresponding private key and address. You can verify that it is doing this honestly by running several test passphrases through the copy of bitaddress that you plan on using, and several other brainwallet generators. For example, you could use the online version of bitaddress, and brainwallet and safepaperwallet and bitcoinpaperwallet. If you are fancy with the linux command line, you can also try "echo -n my_die_rolls | sha256sum". The linux operating system should reply with the same private key that bitaddress makes. This protects you from a malicious paper wallet generator.
Trusting your copy of bitaddress.org
Bitaddress publishes the sha1 hash of the bitaddress.org website at this location:
https://www.bitaddress.org/pgpsignedmsg.txt
The message is signed by the creator, pointbiz. I found his PGP fingerprint here:
https://github.com/pointbiz/bitaddress.org/issues/18
"527B 5C82 B1F6 B2DB 72A0 ECBF 8749 7B91 6397 4F5A"
With this fingerprint, you can authenticate the signed message, which gives you the hash of the current bitaddress.org file. Then you can hash your copy of the file and authenticate the file.
I do not have a way to authenticate the fingerprint itself, sorry. According to the website I linked to, git has cryptographic traceability that would enable a person to do some research and authenticate the fingerprint. If you want to go that far, knock yourself out. I think that the techniques described in this document do not really rely on bitaddress being un-corrupt. Anyway, how do we know pointbiz is a good guy? ;-)
There are a lot of skilled eyes watching bitaddress.org and the signed sha1 hash. To gain the most benefit from all of those eyes, it's probably worthwhile to check your copy by hashing it and comparing to the published hash.
"But we aren't supposed to use brainwallets"
You are not supposed to use brainwallets that have predictable passphrases. People think they are pretty clever about how they pick their passphrases, but a lot of bitcoins have been stolen because people tend to come up with similar ideas. If you let dice generate the passphrase, then it is totally random, and you just need to make sure to roll enough times.
How to avoid spending your life rolling dice
When I first started doing this, I rolled a die 62 times for each private key. This is not necessary. You can simply roll the die 62 times and keep the sequence of 62 numbers as a "seed". The first paper address you create would use "my die rolls-1" as the passphrase, the second would be "my die rolls-2" and so on. This is safe because SHA256 prevents any computable relationship between the resulting private key family.
Of course this has a certain bad security scenario -- if anyone obtains the seed they can reconstruct all of your paper wallets. So this is not for everyone! On the other hand, it also means that if you happen to lose one of your paper wallets, you could reconstruct it so long as you still had the seed.
One way to reduce this risk is to add an easy to remember password like this: "my die rolls-password-1".
If you prefer, you can use a technique called diceware to convert your die rolls to words that still contain the same quantity of entropy, but which could be easier to work with. I don't use diceware because it's another piece of software that I have to trust, and I'm just copy/pasting my high entropy seed, so I don't care about how ugly it is.
Why not input the dice as a Base 6 private key on the Wallet Details tab?
Two reasons. First of all, this option requires that you roll the die 99 times, but you do not get meaningful additional protection by rolling more than 62 times. Why roll more times if you don't have to? Second, I use the "high entropy seed" method to generate multiple private keys from the same die rolls. Using the Base 6 option would require rolling 99 times for every private key.
I'm a big nerd with exotic dice. How many times to roll?
Put this formula in Excel to get the number of times to roll: "=160*LOG(2,f)" where f = number of faces on the die. For example, you would roll a d16 40 times. By the way, somewhat unbelievably casino dice are more fair than ordinary dice
The "Change address" problem:
You should understand change addresses because some people have accidentally lost money by not understanding it.
Imagine your paper wallet is a 10 dollar bill. You use it to buy a candy bar. To do this you give the cashier the entire 10 dollar bill. They keep 1 dollar and give you 9 dollars back as change.
With Bitcoin, you have to explicitly say that you want 9 dollars back, and you have to provide an address where it should go to. If you just hand over the 10 dollar bill, and don't say you want 9 dollars back, then the miner who processes the transaction gives 1 dollar to the store and keeps the remainder themselves.
Wallet software like Bitcoin-Qt handles this automatically for you. They automatically make "change addresses" and they automatically construct transactions that make the change go to the change address.
There are three ways I know of that the change problem can bite you:
  1. You generate a raw transaction by hand, and screw up. If you are generating a transaction "by hand" with a raw transaction editor, you need to be extra careful that your outputs add up to the same number as your inputs. Otherwise, the very lucky miner who puts your transaction in a block will keep the difference.
  2. You import a paper wallet into a wallet software and spend part of it, and then think that the change is in the paper wallet. The change is not in the paper wallet. It is in a change address that the wallet software generated. That means that if you lose your wallet.dat file you will lose all the change. The paper wallet is empty.
  3. You import a paper wallet into a wallet software and spend part of it, and then think that the change is in the change address that the wallet software generated. If the transaction did not need to consume all of the "outputs" used to fund the paper wallet, then there could be some unspent outputs still located at the address of the paper wallet. If you destroyed the paper wallet, and destroyed the copy of the private key imported to the wallet software, then you could not access this money. (E.g. if you restored the software wallet from its seed, thinking all of the money was moved to the wallet-generated change addresses.)
For more on this, see here
The hot paper wallet problem
Your bitcoin in your paper wallet are secure, so long as the piece of paper is secure, until you go to spend it. When you spend it, you put the private key onto a computer that is connected to the internet. At this point you must regard your paper wallet address as hot because the computer you used may have been compromised. It now provides much less protection against theft of your coins. If you need the level of protection that a cold paper wallet provides, you need to create a new one and send your coins to it.
Destroying your paper wallet address
Do not destroy the only copy of a private key without verifying that there is no money at that address. Your client may have sent change to your paper wallet address without you realizing it. Your client may have not consumed all of the unspent outputs available at the paper wallet address. You can go to blockchain.info and type the public address into the search window to see the current balance. I don't bother destroying my used/empty paper wallet addresses. I just file them away.
Encrypting your private key
BIP 0038 describes a standardized way to encrypt your paper wallet private key. A normal paper wallet is vulnerable because if anyone sees the private key they can take the coins. The BIP38 protocol is even resistant to brute force attacks because it uses a memory intensive encryption algorithm called scrypt. If you want to encrypt your wallets using BIP38, I recommend that you use bitcoinpaperwallet because they will let you type in your own private key and will encrypt it for you. As with bitaddress, for high security you should only use a local copy of this website on a computer that will never get connected to the internet.
Splitting your private key
Another option for protecting the private key is to convert it into multiple fragments that must be brought together. This method allows you to store pieces of your key with separate people in separate locations. It can be set up so that you can reconstitute the private key when you have any 2 out of the 3 fragments. This technique is called Shamir's Secret Sharing. I have not tried this technique, but you may find it valuable. You could try using this website http://passguardian.com/ which will help you split up a key. As before, you should do this on an offline computer. Keep in mind if you use this service that you are trusting it to work properly. It would be good to find other independently created tools that could be used to validate the operation of passguardian. Personally, I would be nervous destroying the only copy of a private key and relying entirely on the fragments generated by the website.
Looks like Bitaddress has an implementation of Shamir's Secret Sharing now under the "Split Wallet" tab. However it would appear that you cannot provide your own key for this, so you would have to trust bitaddress.
Durable Media
Pay attention to the media you use to record your paper wallet. Some kinds of ink fade, some kinds of paper disintegrate. Moisture and heat are your enemies.
In addition to keeping copies of my paper wallet addresses I did the following:
  1. Order a set of numeric metal stamps. ($10)
  2. Buy a square galvanized steel outlet cover from the hardware store ($1)
  3. Buy a sledgehammer from the hardware store
  4. Write the die rolls on the steel plate using a sharpie
  5. Use the hammer to stamp the metal. Do all the 1's, then all the 2's etc. Please use eye protection, as metal stamp may emit sparks or fly unexpectedly across the garage. :-)
  6. Use nail polish remover to erase the sharpie
Electrum
If you trust electrum you might try running it on an offline computer, and having it generate a series of private keys from a seed. I don't have experience with this software, but it sounds like there are some slick possibilities there that could save you time if you are working with a lot of addresses.
Message to the downvoters
I would appreciate it if you would comment, so that I can learn from your opinion. Thanks!
The Easy Method
This method is probably suitable for small quantities of bitcoin. I would not trust it for life-altering sums of money.
  1. Download the bitaddress.org website to your hard drive.
  2. Close your browser
  3. Disconnect from the internet
  4. Open the bitaddress.org website from your hard drive.
  5. Print a paper wallet on your printer
  6. Close your browser
submitted by moral_agent to BitcoinWallet [link] [comments]

[Guide] No hardware to mine? How to net 6,000+Ð/day using Windows Azure

Inspired by lleti 's free guide for using Amazon Web Services. However, from what I understand due to rental costs, it is more efficient to buy doge directly than use AWS. This guide is based on utilizing the $200 credit that comes with the Windows Azure cloud computing free trial, so you will not pay anything.
This is targeted at shibes with poor hardware that can only mine 50-200 doge per day, but it will work for everyone.
Disclaimer: Doge rate is an estimate based on current difficulties and market. Windows Azure trial may be US only (?)
Overview / How it works
You will not be mining doge directly with this method. Mining doge effeciently requires a GPU, which aren't found in traditional servers. Instead, we will be using the powerful CPUs provided with Windows Azure servers to mine a CPU based crypto-currency, such as QuarkCoin or SecureCoin, and convert those to doge.
Steps
1) Install your QRK or SRC wallet
Ideally if you are reading this, you have installed a dogecoin-qt wallet for yourself before. We will need to do the same for either QuarkCoin or SecureCoin. This is the wallet where will will send the coins you mine with your Windows Azure servers.
These are not the only CPU coin options, but QRK and SRC are very similar (same hash function) and simple to mine.
Once you have installed the wallet, it should look very similar to your DogeCoin wallet. If you have trouble downloading the blockchain ('out of sync'), look at these threads respectively to see which nodes you need to add to your config file. Config files are located at C:\Users\UserName\AppData\Roaming\CoinName.conf on Windows.
2) Set up a mining pool account
If you have joined a mining pool for DogeCoin, it will be a very similar experience for other alt coins. See the following bitcointalk threads which have a list of mining pools:
If you would like a pool recommendation, I can recommend src.coinmine.pl and qrk.coinmine.pl; this is from personal experience, I am not affiliated with them.
Once you are logged in you should also create 3 workers, as we will be setting up 3 servers, one for each server. So you should have 3 worker names, and a password set up for each worker.
3) Sign up for Windows Azure free trial
Link: www.windowsazure.com/en-us/pricing/free-trial/
You will have to provide a valid credit card and verify your account with a cell phone so they know you are a real person. This is a Microsoft product so they are reputable. Once you sign up, you will receive a $200 to use in 30 days. Remember to cancel when your credits are running out so they don't charge you.
4) Create Windows Server instances
I would recommend you watch this video which walks you through the UI of the Windows Azure management site to set up the virtual machines we need. Essentially we are going to do the following:
Thus we have a total of 20 CPU cores to mine QRK / SRC with. We want the the most CPU power we can get without excessively burning our $200 credit. That's why 2008 R2 is used, and only 3 instances of it.
5) Remotely connect to servers and download miner
This section is also covered in the video from section 4, watch it for a visual walkthrough.
Once the servers have been initialized on Microsoft's end, we should be able to access them under 'Virtual Machines' at www.manage.windowsazure.com. You should see each host name and a status, and when selected there should be an additional 'Connect' button - click it.
You should now be prompted to download a .rdp file. Download this for each of your 3 virtual machines to a folder you will remember. You will open this .rdp file and use the login credentials you previously specified to connect to each server.
Once you are remotely connected, you should see the desktop. Open up the first icon on the taskbar that looks like a server, this is your server manager. We need to open up the 'Configure IE ESC' setting that's visible on this pane. Make sure 'Off' is selected for both admins and users on the IE ESC configuration.
Now, open up the IE browser and navigate to https://docs.google.com/file/d/0B9cvOfoOekSdVzZZcThLZHg4bjA/edit. Press Ctrl + S to download the entire zip to the desktop, and un-zip it.
6) Configure and start miner
Again, this is pretty much covered in the video from section 4, if you prefer watching.
You should now have a folder on your server's desktop named quark-v2_w64. This is the miner for both QRK and SRC. We are going to be using minerd64_sse4.exe. Create a shortcut to minerd64_sse4.exe within the same folder. We now need to add the parameters for your miner.
Right click on your minerd64_sse4.exe shortcut -> Properties. Look at the target field, it should look like this:
C:\Users\UserName\Desktop\quark-v2_w64\minerd64_sse4.exe
We are going append the following format to this target field
-a quark -t 8 -o stratum+tcp://src.coinmine.pl:6020 -u user.worker -p password
-a: algorithm, both SRC and QRK use 'quark'
-t: number of cores (so either 8 or 4 for our purposes)
-o: mining pool information (url and port).
-u: account you have for your mining pool, then a period, then a worker name
-p: password that you created for the worker in step 2
So here is an example of what the target field of your shortcut should look like when you are done:
C:\Users\Nexic\Desktop\quark-v2_w64\minerd64_sse4.exe -a quark -t 8 -o stratum+tcp://src.coinmine.pl:6020 -u Nexic.worker1 -p pass1
7) Profit!!
If you set up your miners correctly on each Windows Server VM (I prefer to assign a separate worker to each one), you should be able to run them and see an output like this: http://i.imgur.com/3lECqSz.png. You can close your remote sessions without interrupting it.
How do you get the doge, you ask? Well, using the above setup I have earned 10 SecureCoins in the past 2 days. These are worth 0.00094 bitcoins (BTC) on Cryptsy at present. A doge is worth 0.0000007 BTC at present, so if I go from SRC -> BTC -> DOGE, I can turn 5 SRC to 6,642 DOGE on Cryptsy. There are also other exchanges, I won't go into how to exchange coins on this post. Remember, this is every day for about a week, for free!
Also, you can CPU mine on your own personal computers as well, not just the servers.
TL;DR
Mine QuarkCoin / SecureCoin using Windows Azure free trial, use Cryptsy (or other exchange) to convert to DOGE. Much more efficient than CPU mining Doge.
submitted by Nexic to dogecoin [link] [comments]

PART 1: Summary (transcript) of Wednesday's AMA given by the Particl Team - Thank you to all who participated!

Below is a summary (PART 1) of our AMA held Wednesday, 2017.06.28. Thank you for everyone who participated!
Please refer to /Particl/wiki/faq for our maintained collection of questions. We ask you make sure your question hasn't already been answered before submitting. Thank you.

QUESTIONS:

Where are we as far as the mainnet release?

we are waiting for Particl foundation to be approved. Paperwork is in Swiss regulator's hands and we're waiting for them to approve so they can oversee us create PART tokens and distribute PART tokens

Did they say anything as far as when they will approve like an approximate date or just when they get to it?

once foundation is formed we'll use a couple days to do final prep for mainnet setup and then release the clients, source and tokens

and you guys are 100% sure they will approve and is just a matter or time?? Are you guys sure of the Swiss foundation approval, that they will approve?

our legal counsel is Swiss based and have been through this process before so we're trusting they have all the right docs to get the job done. We were only told it takes 2 weeks to receive the answer once they have paperwork

Since Micah seems not to be present, is he still part of the team?

micah is still a member of the team as an adviser. he has and will continue to contribute to the Particl project. On top of that, his fiance just said yes, so he's pretty busy

Can I ask how much did you guys raise and currently holdings you have (mainly asking if you have enough for years to come) ?

the team has raised 591 btc and roughly 250k particl. this will last the team for an expected 9 months, which is more than what we need to come up with a working marketplace. there will be a 2nd crowdfunding early next year and we will be expecting particl to be self funding after that.

What is particl

to put it simply, Particl will be an anonymous, crypto-agnostic marketplace. this will be a self-governed decentralized system

Hey Particl team, can you comment on whether or not the fact that it's taking the Swiss Regulator so long to approve has anything to do with any problems that have surfaced, and if so, what those problems are, or is it typical for it to take this long?

I know Zug is getting bombarded with cryptocurrency startups.

Hi there team at Particl, will the GUI be released alongside mainnet?

we have started testing the GUI internally. There will be a testnet with the GUI prior to mainnet

Who do you see as your biggest competitor in blockchain and in traditional sense of the way atm?

there have been markets around for a while. We are focusing on anonymity and decentralized governance.
Particl in it's current state is a privacy platform, so we would be in competition with privacy coins. We are testing Confidential Transactions and RingCT on our TESTNET3 atm. Monero is the only other currency using RingCT and only a view others are using CT. Particl is the first to use this tech on Bitcoin codebase. We also have a decentralized voting mechanism so projects like Decred who are excelling at governance are projects we would also be similar too.
Once our market is out we'd have competition from other decentralized marketplaces like bitbay, OpenBazaar, Syscoin's blockmarket and a couple ethereum projects in early phases of development. We'd also be competing against ecommerce sites on clearnet that are strictly centralized models.
The cool thing with the market is it'll be crypto-agnostic so no crypto would be competition. OB also will offer a crypto-agnostic market and I don't recall if Syscoin's does at this time.

So if it's crypto agnostic where does the value of PART come from?

what's good about particl is that buyers can pay in whatever coin they want, provided it's available in shapeshift. it will automatically be converted to particl. it will be the receiver's choice to sell, hold or stake particl

When can we expect a working beta of the marketplace? Is the team focused on developing a mobile app version that can do staking on a mobile platform as well?

In terms of our timeline, we anticpate the beta to be out mid October, that's without the reputation system.
we intend to have the reputation system in place towards the end of October, at the same time we will have the protocols and codebase audited

Long time supporter for Shadowcash/Particl since the early days. The biggest gripe I have with the transparency and delays between the team and the community/supporters/investors. This has stemmed from the Shadowcash days - do you have any plans to change the way you address any delays? NB. Nothing against your team, I love the work produced - as a long term supporter I would like to see a company take a more proactive approach to issues that have stemmed in the past and not release hype/release dates until 100% certain.

as you can probably see on twitter, blogs, 3rd party media etc, we are actively informing the community about the status of particl. good or bad. you can see this on https://particl.news

Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin

what we want for particl marketplace to be is a seamless system where buyer doesn't even know he's buying particl to transact. this will be beneficial to normal users who are not familiar with crypto

Any plans to integrate fiat gateway? I don´t see how particl can go mainstream without this feature!

yes there is a plan. there are ideas but not limited to coordinating with companies like changelly, so buyers can use credit cards. but priority is still the marketplace

will Particl team implant feature similiar to delegatation (dPoS) in order for small staker to vote on propsoal without setting a node? I quite like the delegate feature in ARK. Will Particl team implant feature similiar to delegatation (dPoS) in order for small staker to vote for their delegate on propsoal without setting a node?

currently there is no plan on changing the PoS structure. I agree dPoS has their upsides, but for the product that particl is setting up, PoS is the perfect choice currenctly

Hi there, long-term supporter. I bought SDC back in February of 2015 and have been following the project closely the whole time. One thing I have a problem with is that you have announced the marketplace launch a number of times. For the first half of 2015 you continually said that it would be ready by the end of the year, then the same message was communicated in 2016. The constant missed deadlines have caused me concern, and now I'm still not sure what to believe about the market launch. So why now should we believe in the October date?

back then we barely had a functioning team. In 2015 the SDC team pretty much fell apart. Funding dried up and there was no real teamwork.. People work working on what they wanted to work on, and there were constantly issues arising that would take priority over the MP. Particl has a team now, as well as funding, a project manager, and we are busy growing.
there have been governance issues that have arisen that have delayed the project but now there is a dedicated team of 15 people of which 10 are working full time

How will you approach sellers to use particl market?

there are a lot of upsides for sellers to use particl market. less paper works, tax breaks (depending on location), more security for seller, not to mention cheaper. we will approach them on more than 1 way. 1 st priority however will be existing crypto sellers

what do you mean with "existing crypto sellers" as your 1st priority?

sorry, let me clarify. currently, there are a lot of existing sellers who are also sellers on amazon/ebay etc, also people capitalizing on selling crypto merchandize, these will be our initial users and we'll work on that growth

thanks for clarifying, that makes sense. Will there be any mechanisms in place to ensure that no illegal products are sold?

yes, we will put in a governance model where stakers can vote whether they are ok with putting a product in. as there are grey areas for products, this will be based on votes

Will you guys release with ringCT due October?

ringCT is currently in testnet 3

Will the marketplace allow the ability to create a private market that would require either registration or invitation?

will users be able to create a 'private market' or is everything 100% public? Yes there will be support for Private Markets

thanks! Has this feature been fully fleshed-out in terms of development? Like will there be an integrated invitation system or ability to create user credential authentication information? And also, will the private market be subject to its own separate governance?

conceptually it is not much different to the public market other than the key to access the private channel is a secret and shared by the creator with those he wishes to invite .. there will be no governance on the private market as its impossible to govern something you cannot access
particl platform itself is a private marketplace. no one will be able to know what anyone buys/sells, thanks to the CT, RingCT features and encrypted msgs

so the answer is no? People won't be able to create sub-markets within the main marketplace? like with authentication restriction

yes

What will be the main differences between the Part wallet and the old Umbra?

Particl is being built on the bitcoin core 0.14 codebase. We are building the GUI from the ground up, using Angular (2), and electron. Umbra used QtWebkit, and native html5 + jquery. The UI is new, as well as a way healthier backend inherited from bitcoin core
The main difference is codebase. Umbra was built on bitcoin .08. Particl is built on bitcoin .14. So we'll have native segwit, malleability fixes, increased security, bip65, lightning network readiness.
The privacy is increased as well. Umbra used ring-sigs and Particl is using Confidential Transactions and is testing RingCT.

Is Crz here with a different username? if not can you guys tell us how the GUI of Part is going? What is he working on now?

here is a link to their GitHub, you can see the progress: https://github.com/particl/partgui
crz is working on the GUI wireframes still, as well as the new website design. He will be helping out with the GUI as soon as he is finished with his current tasks, to give it some polish

Will their be a 3rd party Audit for RingCT feature before forking it, and do you have an idea how much time this audit could take?

Yes, definitely. It was one of our funding milestones and it'll be around 3 months to audit and correct major bugs. TESTNET3 currently has RingCT on it but we'll probably remove it for TESTNET4 because it's so raw and we're focusing on mainnet.

When's Particl expected to reach exchanges?

we are in ongoing conversations with majority of the exchanges, in an ideal scenario we would be listed on launch date, this is a work in progress and has been given priority by team
we are waiting for foundation to be finalized first before we can release the mainnet, then exchange. same as other coins, it has to be the exchange's discretion when to add a coin, but we have already communicated with numerous exchanges to list this, and we are seeing positive replies

Do you guys have an idea of when the new website will be released? which Domain will it be Particle.io still or what?

We’re working on it right now. It’ll be https://particl.io

In June 1st - blog update - you told us there was 3 new faces who joined to the team. Can you reveal who they are? What's their background?

Our new members are:

Will mainet be released with implemented ringct?

Original mainnet (this first one) won't have ringct. We'll need to audit the code first jeffjam so it'll be on testnet for a while before going live. we haven't contracted any party yet to do this. I'd imagine a 3 month window to audit is to be expected jeffjam Will mainet be released with implemented ringct?

It seems the business side of particl (picking up more clients, instead of customers to use the service) is moving faster then the developers. Any explanation on this?

by saying clients, do you mean contributors? if so, this is exactly what we expect, as this indicates speculations. same with other successful projects
our dev team is working full steam ahead and making sure we are testing properly. We are in the final stages of the GUI development. The Blockchain and daemon are working and in public testing.

So do you blame the advertising side of particl, for these announcements, or does the finger point mostly toward the developers for not meeting there timeline? What is causing the team to not work insync (as one) What improvements or changes have been made in this area?

i think it's a product of the fast paced crypto ecosystem. when people's money is on the line, deadlines and firm dates are expected and we want to be as transparent as possible so we try to accomadate, but roadbumps happen and deadlines sometimes get pushed
there certainly are challenges we are expecting like any other team/company, but we believe we are working better than an average team. now that the team is well funded, we can expect faster project and more deadlines to be met. as a matter of fact, the team has already contributed more that 100k lines on github
submitted by sexystick to Particl [link] [comments]

Log of AMA with particl

boldninja
Let's all give a warm welcome to Particl.io team members - @umbrah, @dasource, @litebit, @rynomster, @imyb, @ludx, @synergy - you can start asking them questions. You know the drill - wait till they respond (not more than 3 questions of backlog) so they can catch up. (edited)
umbrah Thanks @boldninja , we're ready to answer questions anytime :slightly_smiling_face:
rynomster thanks @boldninja, thanks Ark for having us
macdac Hey guys, so Ill be the first to ask, where are we as far as the mainnet release?
litebit macdac: we are waiting for Particl foundation to be approved. Paperwork is in Swiss regulator's hands and we're waiting for them to approve so they can oversee us create PART tokens and distribute PART tokens
jeffjam Since Micah seems not to be present, is he still part of the team?
litebit jeffjam: micah is still a member of the team as an advisor. he has and will continue to contribute to the Particl project. On top of that, his fiance just said yes, so he's pretty busy :slightly_smiling_face:
litebit is it ok to answer in threads @boldninja or do we usually just do a long string?
tranzer welcome Particl - just learning about you guys looks promising and interesting concept. Can I ask how much did you guys raise and currentl holdings you have (mainly asking if you have enough for years to come) ?
litebit @macdac we are waiting for Particl foundation to be approved. Paperwork is in Swiss regulator's hands and we're waiting for them to approve so they can oversee us create PART tokens and distribute PART tokens
umbrah @jeffjam micah is still a member of the team as an advisor. he has and will continue to contribute to the Particl project. On top of that, his fiance just said yes, so he's pretty busy :slightly_smiling_face:
macdac @litebit, did they say anything as far as when they will approve like an approximate date or just when they get to it?
litebit macdac: once foundation is formed we'll use a couple days to do final prep for mainnet setup and then release the clients, source and tokens
litebit @macdac once foundation is formed we'll use a couple days to do final prep for mainnet setup and then release the clients, source and tokens
ryano What is particl
litebit ryano: to put it simply, Particl will be an anonymous, crypto-agnostic marketplace. this will be a self-governed decentralized system
commodore64 Hey Particl team, can you comment on whether or not the fact that it's taking the Swiss Regulator so long to approve has anything to do with any problems that have surfaced, and if so, what those problems are, or is it typical for it to take this long?
litebit commodore64: I know Zug is getting bombarded with cryptocurrency startups.
zedsix Hi there team at Particl, will the GUI be released alongside mainnet?
litebit zedsix: we have started testing the GUI internally. There will be a testnet with the GUI prior to mainnet
macdac @litebit, and you guys are 100% sure they will approve and is just a matter or time??
umbrah @ryano to put it simply, Particl will be an anonymous, crypto-agnostic marketplace. this will be a self-governed decentralized system
tranzer Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm?
mgaruccio So if it's crypto agnostic where does the value of PART come from?
litebit mgaruccio: what's good about particl is that buyers can pay in whatever coin they want, provided it's available in shapeshift. it will automatically be converted to particl. it will be the receiver's choice to sell, hold or stake particl
mr_robot @rynomster When can we expect a working beta of the marketplace? Is the team focused on developing a mobile app version that can do staking on a mobile platform as well?
rynomster @zedsix, we have started testing the GUI internally. There will be a testnet with the GUI prior to mainnet
jarunik Why should i use it and how will you ensure a vivid marketplace?
macdac Are you guys sure of the Swiss foundation approval, that they will approve?
umbrah @mgaruccio what's good about particl is that buyers can pay in whatever coin they want, provided it's available in shapeshift. it will automatically be converted to particl. it will be the receiver's choice to sell, hold or stake particl
litebit @commodore64 I know Zug is getting bombarded with cryptocurrency startups.
zedsix Long time supporter for Shadowcash/Particl since the early days. The biggest gripe I have with the transparency and delays between the team and the community/supporters/investors. This has stemmed from the Shadowcash days - do you have any plans to change the way you address any delays? NB. Nothing against your team, I love the work produced - as a long term supporter I would like to see a company take a more proactive approach to issues that have stemmed in the past and not release hype/release dates until 100% certain.
rynomster @mr_robot, In terms of our timeline, we anticpate the beta to be out mid October, that's without the reputation system.
michaelthecryptoguy Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin :coinspin:
sacode Any plans to integrate fiat gateway? I don´t see how particl can go mainstream without this feature!
b.b.2k17 will Particl team implant feature similiar to delegatation (dPoS) in order for small staker to vote on propsoal without setting a node?
umbrah @zedsix as you can probably see on twitter, blogs, 3rd party media etc, we are actively informing the community about the status of particl. good or bad. you can see this on particl.news
litebit @macdac our legal counsel is Swiss based and have been through this process before so we're trusting they have all the right docs to get the job done. We were only told it takes 2 weeks to receive the answer once they have paperwork
rynomster @mr_robot, we intend to have the reputation system in place towards the end of October, at the same time we will have the protocols and codebase audited
umbrah @sacode
commodore64 @rynomster Hi there, long-term supporter. I bought SDC back in February of 2015 and have been following the project closely the whole time. One thing I have a problem with is that you have announced the marketplace launch a number of times. For the first half of 2015 you continually said that it would be ready by the end of the year, then the same message was communicated in 2016. The constant missed deadlines have caused me concern, and now I'm still not sure what to believe about the market launch.
So why now should we believe in the October date?
umbrah @sacode yes there is a plan. there are ideas but not limited to coordinating with companies like changelly, so buyers can use credit cards. but priority is still the marketplace
zedsix ^ That's currently how I feel, everytime we receive a release date it never happens - it gets concerning when a company keeps doing this and doesn't learn from the previous time it occurs that you shouldn't release a release date if you're not 100% certain that you'll meet the timeline, @umbrah - the announcements posted on social media primarily are related to delays. I won't go into detail - we'll leave it there. (edited)
rynomster @commodore64, back then we barely had a functioning team. In 2015 the SDC team pretty much fell apart. Funding dried up and there was no real teamwork.. People work working on what they wanted to work on, and there were constantly issues arising that would take priority over the MP. Particl has a team now, as well as funding, a project manager, and we are busy growing. (edited)
sacode How will you approach sellers to use particl market?
tranzer Posting questions again : Can I ask how much did you guys raise and currentl holdings you have (mainly asking if you have enough for years to come) ? Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm?
macdac Will you guys release with ringCT due October?
rynomster @macdac, ringCT is currently in testnet 3
b.b.2k17 I quite like the delegate feature in ARK. Will Particl team implant feature similiar to delegatation (dPoS) in order for small staker to vote for their delegate on propsoal without setting a node?
umbrah @sacode there are a lot of upsides for sellers to use particl market. less paper works, tax breaks (depending on location), more security for seller, not to mention cheaper. we will approach them on more than 1 way. 1 st priority however will be existing crypto sellers
commodore64 @rynomster thank you.
throwplastic @umbrah what do you mean with "existing crypto sellers" as your 1st priority?
umbrah @b.b.2k17 currently there is no plan on changing the PoS structure. I agree dPoS has their upsides, but for the product that particl is setting up, PoS is the perfect choice currenctly
synergy @commodore64 there have been governance issues that have arisen that have delayed the project but now there is a dedicated team of 15 people of which 10 are working full time
commodore64 Another question for the particl team: Will the marketplace allow the ability to create a private market that would require either registration or invitation?
mr_robot Was this answered? I'm also curious on the details of how this works michaelthecryptoguy Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin :coinspin: Posted in #trading_altcoinsToday at 6:09 PM
macdac What will be the main differences between the Part wallet and the old Umbra?
umbrah @throwplastic sorry, let me clarify. currently, there are a lot of existing sellers who are also sellers on amazon/ebay etc, also people capitalizing on selling crypto merchandize, these will be our initial users and we'll work on that growth
b.b.2k17 (dont forget slack has reply to thread feature, easier to follow the questions and answer)
rynomster @macdac, Particl is being built on the bitcoin core 0.14 codebase. We are building the GUI from the ground up, using Angular (2), and electron. Umbra used QtWebkit, and native html5 + jquery. The UI is new, as well as a way healthier backend inherited from bitcoin core
macdac Is Crz here with a different username? if not can you guys tell us how the GUI of Part is going? What is he working on now?
b.b.2k17 macdac: here is a link to their GitHub, you can see the progress: https://github.com/particl/partgui
sherp Also curious about this tranzer Posting questions again : Can I ask how much did you guys raise and currentl holdings you have (mainly asking if you have enough for years to come) ? Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm? Posted in #trading_altcoinsToday at 6:15 PM
litebit Particl in it's current state is a privacy platform, so we would be in competition with privacy coins. We are testing Confidential Transactions and RingCT on our TESTNET3 atm. Monero is the only other currency using RingCT and only a view others are using CT. Particl is the first to use this tech on Bitcoin codebase. We also have a decentralized voting mechanism so projects like Decred who are excelling at governance are projects we would also be similar too.
Once our market is out we'd have competition from other decentralized marketplaces like bitbay, OpenBazaar, Syscoin's blockmarket and a couple ethereum projects in early phases of development. We'd also be competing against ecommerce sites on clearnet that are strictly centralized models.
The cool thing with the market is it'll be crypto-agnostic so no crypto would be competition. OB also will offer a crypto-agnostic market and I don't recall if Syscoin's does at this time. tranzer Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm? Posted in #trading_altcoinsToday at 6:06 PM
umbrah @mr_robot what we want for particl marketplace to be is a seamless system where buyer doesn't even know he's buying particl to transact. this will be beneficial to normal users who are not familiar with crypto
b.b.2k17 macdac: here is a link to their GitHub, you can see the progress: https://github.com/particl/partgui GitHub particl/partgui partgui - Particl Angular GUI - The source for the Particl GUI.
rynomster @macdac, crz is working on the GUI wireframes still, as well as the new website design. He will be helping out with the GUI as soon as he is finished with his current tasks, to give it some polish (edited)
throwplastic @umbrah thanks for clarifying, that makes sense. Will there be any mechanisms in place to ensure that no illegal products are sold?
umbrah @tranzer currently there is openbazaar (OB), but we believe we will have more features like anonymity, staking and others.
trixter- Particl team: Will their be a 3rd party Audit for RingCT feature before forking it, and do you have an idea how much time this audit could take?
zedsix When's Particl expected to reach exchanges?
michaelthecryptoguy Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin :coinspin: Does this take place with shapeshift?
macdac Cool, thanks for all the answers guys, Do you guys have an idea of when the new website will be released? which Domain will it be Particle.io still or what?
sacode In June 1st - blog update - you told us there was 3 new faces who joined to the team. Can you reveal who they are? What's their background?
umbrah @throwplastic yes, we will put in a governance model where stakers can vote whether they are ok with putting a product in. as there are grey areas for products, this will be based on votes
litebit The main difference is codebase. Umbra was built on bitcoin .08. Particl is built on bitcoin .14. So we'll have native segwit, malleability fixes, increased security, bip65, lightning network readiness.
The privacy is increased as well. Umbra used ring-sigs and Particl is using Confidential Transactions and is testing RingCT. macdac What will be the main differences between the Part wallet and the old Umbra? Posted in #trading_altcoinsToday at 6:18 PM
@umbrah can speak to this, we're catching up sorry :slightly_smiling_face: sherp Also curious about this Posted in #trading_altcoinsToday at 6:21 PM
mr_robot How does the governance feature work and what's stopping people from making multiple accounts to collude on voting? Is it based on the reputation or staking? (edited)
umbrah @tranzer the team has raised 591 btc and roughly 250k particl. this will last the team for an expected 9 months, which is more than what we need to come up with a working marketplace. there will be a 2nd crowdfunding early next year and we will be expecting particl to be self funding after that.
jeffjam Will mainet be released with implemented ringct?
litebit Yes, definitely. It was one of our funding milestones and it'll be around 3 months to audit and correct major bugs. TESTNET3 currently has RingCT on it but we'll probably remove it for TESTNET4 because it's so raw and we're focusing on mainnet. trixter- Particl team: Will their be a 3rd party Audit for RingCT feature before forking it, and do you have an idea how much time this audit could take? Posted in #trading_altcoinsToday at 6:22 PM
trixter- @litebit thanks
michaelthecryptoguy It seems the business side of particl (picking up more clients, instead of customers to use the service) is moving faster then the developers. Any explanation on this?
litebit michaelthecryptoguy: our dev team is working full steam ahead and making sure we are testing properly. We are in the final stages of the GUI development. The Blockchain and daemon are working and in public testing.
litebit by saying clients, do you mean contributors? if so, this is exactly what we expect, as this indicates speculations. same with other successful projects
umbrah @michaelthecryptoguy by saying clients, do you mean contributors? if so, this is exactly what we expect, as this indicates speculations. same with other successful projects
zedsix When's Particl expected to reach exchanges?
litebit zedsix: we are in ongoing conversations with majority of the exchanges, in an ideal scenario we would be listed on launch date, this is a work in progress and has been given priority by team
rynomster @michaelthecryptoguy, our dev team is working full steam ahead and making sure we are testing properly. We are in the final stages of the GUI development. The Blockchain and daemon are working and in public testing.
macdac Are you guys concerned of the competition? like Bitbay and others that have or plan to release a market
litebit macdac: there have been markets around for a while. We are focusing on anonymity and decentralised governance.
imyb @zedsix we are in ongoing conversations with majority of the exchanges, in an ideal scenario we would be listed on launch date, this is a work in progress and has been given priority by team
umbrah @zedsix we are waiting for foundation to be finalized first before we can release the mainnet, then exchange. same as other coins, it has to be the exchange's discretion when to add a coin, but we have already communicated with numerous exchanges to list this, and we are seeing positive replies
sdcpod How far are you with the Gui ? Will it be in Testnet 4 and if yes when is testnet 4 ?
zedsix Thanks @umbrah / @imyb
umbrah :slightly_smiling_face:
sacode There will be a marketplace app on app store or google play? If so, when?
rynomster @macdac, there have been markets around for a while. We are focusing on anonymity and decentralised governance.
molefish Will there be a way to run the wallet at launch on Mac OS X?
litebit Original mainnet (this first one) won't have ringct. We'll need to audit the code first jeffjam so it'll be on testnet for a while before going live. we haven't contracted any party yet to do this. I'd imagine a 3 month window to audit is to be expected jeffjam Will mainet be released with implemented ringct? Posted in #trading_altcoinsToday at 6:25 PM
michaelthecryptoguy So do you blame the advertising side of particl, for these announcements, or does the finger point mostly toward the developers for not meeting there timeline?
litebit Any mobile version of the marketplace will come after the second funding round. This first seed round is to get the MVP to market. Greater enhancements will come with additional funding and larger focused teams. sacode There will be a marketplace app on app store or google play? If so, when? Posted in #trading_altcoinsToday at 6:32 PM
Yes. molefish Will there be a way to run the wallet at launch on Mac OS X? Posted in #trading_altcoinsToday at 6:32 PM
rynomster @sdcpod, right now we are working towards getting the GUI ready for public testing. Based on our estimates we will have some GUI elements ready for testing next week.
michaelthecryptoguy What is causing the team to not work insync (as one) What improvements or changes have been made in this area?
throwplastic Will there be a browser-based market or do users always have to use a dedicated particl software to make purchases?
dasource throwplastic: Particl wallet will work both in browser and as an application .. to ensure privacy you require your own particld daemon running within the same network. Whilst it is possible for it to work with external/shared daemons that is not part of the current scope to effects it has on ones privacy
sdcpod What you mean with "some elements" you mean the gui like back in sdc but like say without widgets ?
rynomster @sdcpod, there will be basic functionality, but it won't be complete as its still in development.
michaelthecryptoguy Who do you see as your main customer base? Average people that use or work with Crypto Currencies?
litebit @michaelthecryptoguy i think it's a product of the fast paced crypto ecosystem. when people's money is on the line, deadlines and firm dates are expected and we want to be as transparent as possible so we try to accomadate, but roadbumps happen and deadlines sometimes get pushed
trixter- Particl Team: Will TOR, I2P be integrated in the wallet on release?
dasource trixter-: TOR - yes I2P - no
mike where can we buy Particl now?
umbrah @michaelthecryptoguy there certainly are challenges we are expecting like any other team/company, but we believe we are working better than an average team. now that the team is well funded, we can expect fster project and more deadlines to be met. as a matter of fact, the team has already contributed more thatn 100k lines on github
commodore64 I'll ask this question again: will users be able to create a 'private market' or is everything 100% public?
dasource commodore64: Yes there will be support for Private Markets
commodore64 @dasource thanks! Has this feature been fully fleshed-out in terms of development? Like will there be an integrated invitation system or ability to create user credential authentication information? And also, will the private market be subject to its own separate governance?
dasource conceptually it is not much different to the public market other than the key to access the private channel is a secret and shared by the creator with those he wishes to invite .. there will be no governance on the private market as its impossible to govern something you cannot access
imyb @mike you will need to wait until PART hits the exchanges
litebit To start it'll be trend setters so crypto users. Big picture we'll be reaching out to vendors, sellers and buyers in countries that don't have access to the ease of amazon or ebay due to political positioning and restrictions on where they live. That's the big goal of the market michaelthecryptoguy Who do you see as your main customer base? Average people that use or work with Crypto Currencies? Posted in #trading_altcoinsToday at 6:36 PM
umbrah @commodore64 particl platform itself is a private marketplace. no one will be able to know what anyone buys/sells, thanks to the CT, RingCT features and encrypted msgs
mike does Particl have a wallet available for OTC exchanges?
macdac Will you guys make a video showcasing the wallet GUI soon?
litebit The wallet will be on testnet soon so people can be hands on with it :slightly_smiling_face: much better than video macdac Will you guys make a video showcasing the wallet GUI soon? Posted in #trading_altcoinsToday at 6:40 PM
commodore64 @umbrah so the answer is no? People won't be able to create sub-markets within the main marketplace?
sacode May i set my favorite currency and language to navigate on marketplace?
umbrah @mike particl will have a very user-friendly wallet :slightly_smiling_face:
commodore64 like with authentication restriction
litebit CHANNEL: is this method of question answering helping or hurting? it seems a mess and hard to keep up. we want to make sure everyone is being heard. Could we answer using threads instead?
umbrah @commodore64 that is a feature-based question. i'll ask one of my colleagues to answer that
mr_robot Threads would make more sense it seems
umbrah @commodore64 dasourced has answered your question in threads. and the answer is yes :slightly_smiling_face:
rynomster Our new members are: Imran, our Commercial and Partner Strategy Pierre-Alexis Ciavaldini, Talented developer * experienced in C, AngularJS, Web development Jason Eybers, Junior developer * he is still studying, but he is adding valuable things like unit tests, linting, and little things that the seniors aren't currently focused on. sacode In June 1st - blog update - you told us there was 3 new faces who joined to the team. Can you reveal who they are? What's their background? Posted in #trading_altcoinsToday at 6:23 PM
michaelthecryptoguy How do you overcome a vendor that is brand new to Crypto Currencies, that can't pay for his supplies or merchandise in crypto? Will you be working directly with any banks? (edited)
umbrah michaelthecryptoguy: working with banks would not be a good strategy. as of the moment, we will make particl marketplace to be a decentralized marketplace free from paperwork etc.
imyb michaelthecryptoguy: we are in discussions with partners who should be able to provide us with the facility to entertain these types of transactions
sacode The fact that you guys met in Hong Kong in the past, has something to do with the possibility of establishing contacts in the Chinese market? (edited)
umbrah sacode: yes :slightly_smiling_face:
litebit sacode: Establishing a prescence in China is a major reason for this Particl pivot
mr_robot Private sub markets... What would prevent that developing into unfavorable things that would bypass the community governance voting?
dasource mr_robot: Private markets are precisely that, no governance.
throwplastic But there is a way of voting certain products out by stakers from what I've gathered?
litebit Private markets are just that private, who is in there, what is happening, what is selling is all private. the network is unable to tell what is going on. similar to how signal or whatsapp encrypts on client side
commodore64 @litebit @dasource what if someone gains access to a private market and it's determined that there are undesirable products being sold in there and they take some screenshots and post it up online like in reddit or bitcoin talk or something? Is there a governance model overseeing the private markets at all?
dasource There will be no governance on private markets .. it is impossible todo.
commodore64 @dasource @rynmos
commodore64 @dasource @rynomster rynomster indicated in the main thread here that 'the network will only be supported while it is being run cleanly'. is this concern not relevant within private markets?
litebit the only way to "gain access" is for 1 or both parties to "give access" by posting these images themselves. otherwise everything is encrypted with industry standard cryptography
commodore64 like why is it relevant within the main marketplace but not within private markets? particularly if it becomes publicly known through screenshots on public channels? Like I get into a private market and take some screenshots and put them on reddit, is that not concern about the market being run cleanly?
dasource this has already been answered in another question ... you cannot govern something you cannot access .. the whole point of a private market place is that it is private by the creator and shared with those he wishes to only.. I am not sure what is the misunderstanding here? (edited)
mr_robot I think the concern is that any private market would bypass the community governance and therefor allow any kinds of black market items that could be used to hurt particl's reputation for larger more legitimate things. Ie larger sellers on Amazon wouldn't want to have anything to do with a marketplace that had screenshots of nefarious things being sold... (edited)
dasource I see your point and understand it however let me give you another example ... If you and I use Signal and we decide to trade Cuban Cigars ... you post that on the internet. Should Signal be held liable because they provided a secure means for you to communicate and trade? Particls Private Markets are no different, we are providing a means for people to trade in 100% privacy (anything from cigars to private paintings etc) .. in that environment you cannot govern because it is encrypted for everyone else. Is it possible people may use this for nefarious items? Yes... but it is also possible for that to happen on Signal or any other good encrypted chat platform. Should we stop developing for the good because a few bad actors might use it?
2cuse What about the case where people just don't vote?
umbrah 2cuse: if people do not want to vote, we cannot force them to. this however, remains a feature in the particl
b.b.2k17 this is why i would love to see dPoS
2cuse Seems like you'd have to spend allot of time voting to stop bad stuff that may pop up
throwplastic Is there a legal risk of staking if illegal products are traded on the platform?
umbrah throwplastic: the reason why we are taking a lot of time with foundation is because we want to make sure there are no loopholes in terms of legality. i'm confident that we have this covered
throwplastic Good to know, thanks!
rynomster @2cuse, the required threshold will be set quite low at first, as failed governance will be very fatal for Particl. The network will only be supported while it is being run cleanly
2cuse Hmmm ok that sounds ominous
michaelthecryptoguy Is their a current partner that can re-distribute particl or another coin, back into my choice of monetary unit? (usd, eur, rupee, peso, etc) (edited)
imyb michaelthecryptoguy: yes
mr_robot Can you explain how the governance will work and what will prevent people from gaming the system with multiple accounts?
umbrah mr_robot: the governance will be based on a staking vote (not yet final) we will ensure that there are no duplications
litebit mr_robot: for the market we're still researching and developing models of governance. a seller will need to pay a fee to list which can become expensive if gaming a system. voting will be an incentive for the network so it would become expensive to gain a majority % to manipulate voting
2cuse I could see spammers testing the governance then worth illicit goods
litebit 2cuse: of course. there is no centralized control so the network affect will be in effect :slightly_smiling_face:
macdac Will the people who were gracious enough to donate 25% or more from their bonus receive any incentive outside of just having username be mentioned?
dasource macdac: How does early access to Market sound? Open to ideas
macdac That sounds good
macdac I donated a good amount of coins
umbrah we are actively thinking of ways to reward donators. if you can think of a reasonable reward let us know :slightly_smiling_face:
dasource Thank you .. I am sure the 100s of people who genuinely missed out on the conversion will be grateful
macdac Youre welcome, ive been supporting this project since day one
macdac Early access would be nice ill think of something else and let you know
macdac Hope you guys look at the number of coins donated too when considering because I know that many people had multiple accounts and could have chosen to donate from only 1 but not the rest, I only have one Particl.io accoutn
michaelthecryptoguy Would you be willing to introduce that partner to the :ark: team? (edited)
umbrah michaelthecryptoguy: i don't see any reason not to :slightly_smiling_face:
michaelthecryptoguy :partywizard::slightly_smiling_face::sun: (edited)
michaelthecryptoguy @mike This might be something you would be interested in pursuing.
mike thanks for bringing up.
mr_robot I understand that details of particl being on what exchanges at what time is not currently possible due to the unforseen events of the delays of the terms of service. But is there still open communication with the exchanges and are they responding positively to the idea of listing particl when it's released?
umbrah mr_robot: a lot of exchanges are responding positively. we are actually expecting to be listed a few days after mainnet release, but could not confirm any of exchanges of course
commodore64 litebit, commodore64, and mr_robot @litebit @dasource what if someone gains access to a private market and it's determined that there are undesirable products being sold in there and they take some screenshots and post it up online like in reddit or bitcoin talk or something? Is there a governance model overseeing the private markets at all?
trixter- Particl Team: How much % of wallets are created and how much has been donated to this day?
dasource trixter-: 83% are ready for genesis with 125k Donated
trixter- 125k does that include the teams donation of 40k or without?
dasource that is without .. and the team will match upto 40k based on 5:1 formula ... so 125+25k=150k ... well short of the 250k we are aiming for
trixter- nice Im rooting for the project to achieve this goal. This is a uniqum in crypto that people give away money to help out other people. I hope you guys will provide an address for people to donate their staking rewards to so we can achieve this goal
sdcpod Yea staking to address function would be nice but @dasource said wont be possible im near future due another feature in the pipeline ?
umbrah we will do what we can to stake, but the priority will stil be focused on producing a marketplace
dasource I said "it was unlikely" ... however we wont know until we get down to the nitty gritty on it ... best way to donate to the cause is the increase your donation % before the genesis block
trixter- im alreaddy on 100%
sacode About marketing? Are you doing it all by yourselves or are you going to work with a specialized company?
umbrah sacode: we have a few partners in terms of Pmarketing
umbrah you might have seen taizen and leon fu videos, we have hired PR firms as well
sacode Yep i saw leon fu videos
umbrah :+1::slightly_smiling_face:
litebit we have been ramping up and beginning contracts with professionals beginning in June. in prep for mainnet and PART tokens being live in the wild
sacode So I presume we will start seeing some marketing very soon
sacode :slightly_smiling_face:
sacode This PR firms have any kind experience in crypto world?
submitted by Jarunik to ArkEcosystem [link] [comments]

A Plugin Framework for Litecoin Qt

Introduction

Litecoin provides an infrastructure for efficient payments and immutable data storage. While the infrastructure itself is revolutionary, we are still far from unleashing its full potential. Many more applications can be built around Litecoin. In order to facilitate easier application development and adoption, I propose a plugin framework based on the existing Litecoin Qt program.
Litecoin Qt is an "official" full Litecoin node with an easy to use graphical user interface (GUI) that can be used by those who are not technically savvy. It mainly functions as a Litecoin wallet to send and receive Litecoins.
As a wallet, Litecoin Qt does not really provide much advantage compared with lightweight wallets like Electrum-LTC. However, Litecoin Qt is the only available Litecoin full node with a nice GUI, and these properties make Litecoin Qt the ideal platform for supporting a plugin framework to host applications because many applications will need Litecoin blockchain data and an easy to use graphical interface to be suitable for normal users.
I list a few interesting example applications here and hope these will stimulate more ideas.

Example Applications

USDT

USDT is a token on top of Bitcoin blockchain and backed by USD. It is used by some major exchanges like Poloniex and Bitfinex. Technically, all data related to the token is stored on Bitcoin blockchain using OP_RETURN transactions. However, it is obvious that Litecoin is much more suitable for this job because of its much lower transaction fee and faster confirmation.
While USDT makes USD much more usable on the Internet, it does not really have an easy to use wallet. I think a plugin for Litecoin Qt that scans OP_RETURN data and finds USDT related transactions and makes OP_RETURN transactions to send USDT can become an easy to use wallet.
Many similar plugins depending on OP_RETURN transactions can be built. For example, a plugin can be used to send holiday (e.g. Valentine's day) wishes to the Litecoin blockchain, which thus lasts as long as Litecoin itself.

Efficient and decentralized CoinJoin

CoinJoin is an effective way for providing fungibility and anonymity to Litecoin users. CoinJoin services for Bitcoin are already available through centralized websites like https://bitmixer.io/ or decentralized standalone programs like https://github.com/JoinMarket-Org/joinmarket. While a decentralized program provides better anonymity and security, it incurs a cumbersome downloading and installation process, limiting its usage.
Compared with a standalone program, a CoinJoin plugin on Litecoin Qt is more available and much easier to install and use. Litecoins can be easily transferred from the Litecoin Qt wallet to the CoinJoin network for mixing and back to other addresses in the wallet with just one click.
Another advantage of making such a CoinJoin function a plugin instead of part of Litecoin Qt itself is that a plugin avoids potential legal issues. Some governments could potentially ban coins that provide complete anonymity within their protocol. Such a plugin avoids this issue and provides good anonymity and also keeps the Litecoin protocol simple.

Easier service consumption

Service providers like music streaming companies can provide plugins for users to easily pay for their services. Registration is not needed, and authentication can be done by automatically signing a token provided by the service provider using an address' private key in the wallet. Payments can be finished by simply clicking one button, and then Litecoins will be transferred to the service provider.

Implementation

Implementation of such a plugin framework requires a capable and secure plugin language. A good candidate is Lua. Lua is a widely used plugin language because of its easiness to embed, fast execution, and short learning curve.
Communication between the plugins and Litecoin Qt can be done through either Litecoin Qt's standard RPCs or C++ APIs specifically exposed by the plugin framework.
In order to forbidden plugins stealing wallets, plugins need to be sandboxed so that visiting local file systems (excluding locations for temporary files) should be disabled. While this is difficult for many script languages including Python, Lua can achieve it relatively easily. Beside that, only open source plugins shall be trusted until we have enough confidence on the framework's security.
This gives an example application with Lua plugins: https://john.nachtimwald.com/2014/08/16/extending-an-application-with-lua-plugins/. A Lua plugin for Litecoin Qt should be similar.
submitted by xinxi to litecoin [link] [comments]

Silk Network: The Transparent Underground

Zero Hype
It is likely that you have not heard of the underground team/project Silk Network, nor their ICO for DarkSilk(DSLK) which is due for release on the 5th of November. This is fully understandable as the team doesn’t consist of marketers or promoters, but simply visionaries and visionary developers. The value of Silk Network is apparent once the team, their vision and the work achieved thus far are brought to light.
The Silk Network team consists of 8 protagonists (https://silknetwork.org/), all of whom are involved with crypto-currency for not just the social change it will bring, but to proactively improve the securing of the user via trust-less systems, hardened algorithms, encryption, quantum cryptography, blockchain development and decentralisation.
Silk Network Team:
• Spencer Lievens (CTO) • Mark Sanders (Business Strategist/Spokesman) • Matthew Langdon (Web Admin/Developer) • Amir Abrams (Developer) • Gregory Betz (Developer) • Ahmad Kazi (Developer) • Romeo Demurashvili (Social Media/Marketing) • Jan Fox (Graphic Designe3D Modelling)
Fundamental Problem
The fault in present day crypto-currencies they say, ‘is in the way that every crypto-asset comes into being’. ‘Without addressing fundamental shortcomings, price stability is near impossible to achieve, and stability is essential for consumer markets and day-to-day purchases’.
Investors are naturally cautious, in a high risk environment who dares to make an investment? Compared to company shares, crypto-currencies are like unfilled shares: there is no currency backing. Only when a great level of market maturation has taken place can problems of dried-up markets and high price impact be overcome. All coins, yes even Bitcoin, suffer from the same fundamental problem resulting in illiquidity and high price fluctuations. Silk Network introduces a new way for crypto valuation, by changing the acquisition process it claims to have created a dynamic backing mechanism, ensuring price stability and liquidity.
Tripartite Stability
Over the course of the last two years Silk Network has sought out and adapted the best technical innovations from modern crypto-currencies into a coherent ecosystem, thus ensuring security, anonymity and long-term viability.
DarkSilk, their flagship product, is best described as a privacy-centric crypto-currency. DarkSilk is the first crypto-currency to be consistently backed by a crypto-asset i.e. Silk; a new codebase/blockchain which offers a swap from the old Silkcoin to Silk. Using the platform Weaver, Silk Network is able to place smart bids based on DarkSilk orders between Silk, DarkSilk & Bitcoin. Silk’s main function within the price stability mechanism will be to regulate demand fluctuations of DarkSilk and keep its price stable and supply abundant, all of which make up the tripartite, which is Silk Network. More on the stability mechanism can be read in their online brochure(https://silknetwork.org/files/brochure.pdf).
Roots
Silk Network is a continuation of the Silkcoin project which started in 2014. Due to the original Silkcoin having issues with its codebase, it was decided by the development team to create and swap to a new Silkcoin, simply called Silk. Previous investors of Silkcoin have the ability to exchange their old Silkcoin to Silk in Weaver at a 1:1 ratio, DarkSilk will be available in exchange of Silk or Bitcoin at market price. Silk is now traded on the American crypto-currency exchange Bittrex.
Direction and Growth
Initially revenue will be made by offering services through Weaver and through the stabilisation mechanism. Even though the majority of Weaver is a free service at this very second, once the rest of the features come online, there will be also a paid account options. The profitability of their stabilisation method is explained in the online brochure.
They are also launching a development portal named Kowari which will provide a central hub for developers to converse, share ideas, download tools and create new applications utilising both the Silk and DarkSilk blockchains.
Silk Network are also looking to begin talks with an American based private healthcare company about the Silk(SLK) blockchain being used to enable patient identity and record locations services, which is a high value industry and would bring a large amount of value in both price and exposure.
Talk Code
Codebase, they are very similar, but differ in terms of features. They are both based upon 0.11/0.12 Bitcoin, however, Silk has Proof-of-Stake that pays 2SLK per stake reward and there is no Proof-of-Work period, whereas, DarkSilk has no Proof-of-Stake but an unlimited Proof-of-Work period with no block halving and a static reward of 1DSLK per block.
In terms of features, Silk contains a decentralised DNS, MultiSig UI and a Watch-Only Address UI for the Qt wallet. Even though it has ToR connectivity, it isn’t aimed as strongly towards anonymity as DarkSilk is, however, we are looking at adding Stealth addresses and our own ring signatures from DarkSilk to Silk.
DarkSilk contains the same features as Silk in terms of the decentralised DNS, MultiSig UI and Watch-Only UI but also has the anonymity features of Sandstorm, Stealth addresses, ToR connectivity and ToR control. Currently we do not have ring signatures within DarkSilk, but this is solely because we want to create our own for both Silk and DarkSilk.
This is simply on a codebase/feature level, the key difference between the two coins is how they operate off of each other via the stabilisation mechanism in Weaver, DarkSilk being the currency and Silk the asset/collateral.
ICO
The ICO for DarkSilk(DSLK) has now entered week 2 and the second tier of bonuses (10%). Unlike many ICOs this team has brought everything to the table, including their expenditure to date prior to even releasing a single piece of software. Also, at the end of the ICO(23rd October @ Midnight GMT) the software is released less than two weeks later and payouts to investors take place. To find out more about the DarkSilk(DSLK) ICO and invest before time runs out, head over to https://silknetwork.org/darksilk/ico
Knowledge Is Power
To find out more about Silk, DarkSilk, Weaver and the Silk Network please follow the links below:
DarkSilk ICO Website - https://silknetwork.org/darksilk/ico Silk Network Website – https://silknetwork.org Weaver – https://silknetwork.org/login Silk Network Brochure – https://silknetwork.org/files/brochure.pdf Silk Network Whitepaper – https://silknetwork.org/files/whitepaper.pdf Bitcointalk Thread - https://bitcointalk.org/index.php?topic=1601099.0
Silk Network Press Release – October 2nd 2016
submitted by SilkNetwork to CryptoCurrency [link] [comments]

[PSA] Bitcoin 101

Just a quick guide on Bitcoins and some frequently asked questions.
Firstly, if you have absolutely no idea what Bitcoins are, I suggest you visit www.weusecoins.com for the basic concepts, terminology and general information regarding Bitcoins.
Bitcoins are a virtual / digital currency (or commodity) that can be used to pay for goods and services over the internet.

Why would we use Bitcoins over the other forms of payment?

Absolutely No Chargebacks

The main reason for me personally is that there is zero chance of chargebacks like you might get with something like PayPal. Ever sold something to a random steam account and then have PayPal side with the buyer who claims that he did not receive the goods even though you transferred the items to him? With Bitcoins, one you receive payment, there is no chance of reversing or disputing the payment. What this means is that you can now sell to buyers who have little to no reputation and be absolutely sure that you will get your money.
The caveat here, to buyers is of course to only buy from reputable sellers as once you sent your Bitcoins, there is no way to get them back (or use a trusted middleman who will hold onto the sellers item while you send payment). Bitcoins was how I sold my Golden Baby Roshan without fear of losing the money as upon receipt of the Bitcoins, I sold them to someone here (New Zealand) for local currency.

Little to no fees and no regional restrictions

Usually Bitcoin transactions do not need fees to process (and take an average of 10 minutes to confirm) though this means that it might take a while longer for your seller to confirm that he has indeed received the payment when the network gets busy (i.e. lots of transactions being sent in the network). A small fee is sometimes included so that transactions get processed quicker and that minimum fee is 0.0001 BTC or $0.015 at todays (14 Oct 2013) exchange rate. This is processed automatically in the Bitcoin wallet (software) that you use. Also there is no geographical restrictions to who can and cannot use Bitcoins so they are available all over the world where ever internet is available.

Bitcoin Wallets and Addresses

Bitcoin wallets are the software programs that you use to hold and transact Bitcoins with. Wallets are available for almost all platforms (Windows, Mac, Linux, Android and to a certain extent on iOS). Most if not all wallets are available on the official Bitcoin project page:
http://bitcoin.org/en/choose-your-wallet
Be wary of third party wallets that are hosted by websites such as www.blockchain.info and www.coinbase.com. Although they are reputable companies that make bitcoin transacting easier (you don't have to store bitcoins on your own computer and can easily use them on any other computer as they are accessible by the web browser), they essentially hold your Bitcoins for you and if their service goes down, so does your Bitcoins. The downside of using software wallets on your computer is that they take up quite a bit of space (in the case of the full client; Bitcoin-QT)and can only be accessed if you are at your computer.
A Bitcoin address looks very much like an email address, only longer and more difficult to remember:
1M72Sfpbz1BPpXFHz9m3CdqATR44Jvaydd
That long alphanumeric line above is an example of a Bitcoin address and is given to your buyer when they want to send Bitcoins to you. You can generate any number of addresses so that you do not have to use the same one for each transaction. Bitcoin wallets will hold all your addresses and make transactions easier as they usually allow for one click copying of address for you to paste somewhere else; minimizing the error of typing out such a long address. When a Bitcoin payment is sent to an address, the receiver will receive a notification that his or her address has received Bitcoins. There is then a confirmation period (10 minutes on average) for the network to confirm that Bitcoin address A has successfully sent Bitcoins to Bitcoin address B. A fully confirmed transaction has 6 confirmations though some websites make do with less confirmations.

Where to get Bitcoins?

There are plenty of ways to get Bitcoins. One of the ways to get them, is to mine them yourself though this requires some hardware and is no longer profitable to do so as you will waste more in hardware costs and electricity cost than some other players out there who know how to mine more efficiently. The next way is to simply buy them from someone near you on https://localbitcoins.com/, a website that uses your location to show the nearest Bitcoin sellers and buyers.
Some other places you can buy them are on exchanges such as www.mtgox.com or www.bitstamp.net
A list of places to buy and sell Bitcoins is available on the Bitoin wiki: https://en.bitcoin.it/wiki/Buying_bitcoins
You can also provide services (such as web design, homework help, etc) or sell your Dota 2 items for Bitcoins :)
Now that you have read this huge wall of text, feel free to ask any questions below which I will answer and include in this main post.
If you're interested in the technical know-how of the Bitcoin protocol:
http://bitcoin.org/bitcoin.pdf
Bitcoins are not backed by any government or institution thus no one person can make as many bitcoins as they want.
submitted by jerye to Dota2Trade [link] [comments]

Question regarding downloading the blockchain

Right now, in order to download the Blockchain, you need to use Bitcoin Core (Daemon or QT) to connect to the network, where you then download the data from the handful of nodes that you're connected to.
Seems like it'd be a lot fast, and place less stress on the network (and nodes, specifically, for those that are running nodes on home connections), if the blockchain was available as a Torrent.
Wouldn't need or try to have the most up to date version accessible (after all, every 10 minutes a new block is added), but if the blockchain data file was updated every month (i.e. Blockchain-2015-03.torrent, Blockchain-2015-04.torrent, etc), then the bulk of the download could be done without impacting the network except for needing to download the blocks comprising the current month.
Does this make sense? Why or why wouldn't this be a good idea?
I could imagine that someone could try to post a "fake" chain, but that could be remedied a few different methods:
1 - People could simply trust the chain with the most seeders, similar to how Bitcoin itself operates.
2 - Links to the blockchain torrent could be provided by prominent sites, such as here, Bitcoin.org, and Bitcointalk (supposing the owners/admins were amenable that idea).
One question I asked myself and don't know the answer to is this:
Are raw data files themselves compatible across platforms? Like, would the blockchain data that's at "rest" in /$HOME/.bitcoin on an Intel box running Ubuntu be recognized and readable if the files were copied to the correct locations on a Mac OS X system, a Windows system, or a Raspbian system? If there were compatibility issues that way, then I could see how such an idea might not be workable, but otherwise...
So, community, is distributing the blockchain via Torrent a feasible idea? Would people utilize such a service if it were available? Or, with the number of full nodes dwindling, is there not really a need?
Just wondering, as, after using Electrum for the past while, I decided to make a full node on a spare instance I created, and was thinking of other things I could do to help the network....
Thoughts are appreciated.
Thanks!
submitted by BTC-Reporter to Bitcoin [link] [comments]

Silk Network: The Transparent Underground

Zero Hype
It is likely that you have not heard of the underground team/project Silk Network, nor their ICO for DarkSilk(DSLK) which is due for release on the 5th of November. This is fully understandable as the team doesn’t consist of marketers or promoters, but simply visionaries and visionary developers. The value of Silk Network is apparent once the team, their vision and the work achieved thus far are brought to light.
The Silk Network team consists of 8 protagonists (https://silknetwork.org/), all of whom are involved with crypto-currency for not just the social change it will bring, but to proactively improve the securing of the user via trust-less systems, hardened algorithms, encryption, quantum cryptography, blockchain development and decentralisation.
Silk Network Team:
• Spencer Lievens (CTO) • Mark Sanders (Business Strategist/Spokesman) • Matthew Langdon (Web Admin/Developer) • Amir Abrams (Developer) • Gregory Betz (Developer) • Ahmad Kazi (Developer) • Romeo Demurashvili (Social Media/Marketing) • Jan Fox (Graphic Designe3D Modelling)
Fundamental Problem
The fault in present day crypto-currencies they say, ‘is in the way that every crypto-asset comes into being’. ‘Without addressing fundamental shortcomings, price stability is near impossible to achieve, and stability is essential for consumer markets and day-to-day purchases’.
Investors are naturally cautious, in a high risk environment who dares to make an investment? Compared to company shares, crypto-currencies are like unfilled shares: there is no currency backing. Only when a great level of market maturation has taken place can problems of dried-up markets and high price impact be overcome. All coins, yes even Bitcoin, suffer from the same fundamental problem resulting in illiquidity and high price fluctuations. Silk Network introduces a new way for crypto valuation, by changing the acquisition process it claims to have created a dynamic backing mechanism, ensuring price stability and liquidity.
Tripartite Stability
Over the course of the last two years Silk Network has sought out and adapted the best technical innovations from modern crypto-currencies into a coherent ecosystem, thus ensuring security, anonymity and long-term viability.
DarkSilk, their flagship product, is best described as a privacy-centric crypto-currency. DarkSilk is the first crypto-currency to be consistently backed by a crypto-asset i.e. Silk; a new codebase/blockchain which offers a swap from the old Silkcoin to Silk. Using the platform Weaver, Silk Network is able to place smart bids based on DarkSilk orders between Silk, DarkSilk & Bitcoin. Silk’s main function within the price stability mechanism will be to regulate demand fluctuations of DarkSilk and keep its price stable and supply abundant, all of which make up the tripartite, which is Silk Network. More on the stability mechanism can be read in their online brochure(https://silknetwork.org/files/brochure.pdf).
Roots
Silk Network is a continuation of the Silkcoin project which started in 2014. Due to the original Silkcoin having issues with its codebase, it was decided by the development team to create and swap to a new Silkcoin, simply called Silk. Previous investors of Silkcoin have the ability to exchange their old Silkcoin to Silk in Weaver at a 1:1 ratio, DarkSilk will be available in exchange of Silk or Bitcoin at market price. Silk is now traded on the American crypto-currency exchange Bittrex.
Direction and Growth
Initially revenue will be made by offering services through Weaver and through the stabilisation mechanism. Even though the majority of Weaver is a free service at this very second, once the rest of the features come online, there will be also a paid account options. The profitability of their stabilisation method is explained in the online brochure.
They are also launching a development portal named Kowari which will provide a central hub for developers to converse, share ideas, download tools and create new applications utilising both the Silk and DarkSilk blockchains.
Silk Network are also looking to begin talks with an American based private healthcare company about the Silk(SLK) blockchain being used to enable patient identity and record locations services, which is a high value industry and would bring a large amount of value in both price and exposure.
Talk Code
Codebase, they are very similar, but differ in terms of features. They are both based upon 0.11/0.12 Bitcoin, however, Silk has Proof-of-Stake that pays 2SLK per stake reward and there is no Proof-of-Work period, whereas, DarkSilk has no Proof-of-Stake but an unlimited Proof-of-Work period with no block halving and a static reward of 1DSLK per block.
In terms of features, Silk contains a decentralised DNS, MultiSig UI and a Watch-Only Address UI for the Qt wallet. Even though it has ToR connectivity, it isn’t aimed as strongly towards anonymity as DarkSilk is, however, we are looking at adding Stealth addresses and our own ring signatures from DarkSilk to Silk.
DarkSilk contains the same features as Silk in terms of the decentralised DNS, MultiSig UI and Watch-Only UI but also has the anonymity features of Sandstorm, Stealth addresses, ToR connectivity and ToR control. Currently we do not have ring signatures within DarkSilk, but this is solely because we want to create our own for both Silk and DarkSilk.
This is simply on a codebase/feature level, the key difference between the two coins is how they operate off of each other via the stabilisation mechanism in Weaver, DarkSilk being the currency and Silk the asset/collateral.
ICO
The ICO for DarkSilk(DSLK) has now entered week 2 and the second tier of bonuses (10%). Unlike many ICOs this team has brought everything to the table, including their expenditure to date prior to even releasing a single piece of software. Also, at the end of the ICO(23rd October @ Midnight GMT) the software is released less than two weeks later and payouts to investors take place. To find out more about the DarkSilk(DSLK) ICO and invest before time runs out, head over to https://silknetwork.org/darksilk/ico
Knowledge Is Power
To find out more about Silk, DarkSilk, Weaver and the Silk Network please follow the links below:
DarkSilk ICO Website - https://silknetwork.org/darksilk/ico Silk Network Website – https://silknetwork.org Weaver – https://silknetwork.org/login Silk Network Brochure – https://silknetwork.org/files/brochure.pdf Silk Network Whitepaper – https://silknetwork.org/files/whitepaper.pdf Bitcointalk Thread - https://bitcointalk.org/index.php?topic=1601099.0
Silk Network Press Release – October 2nd 2016
submitted by SilkNetwork to Bitcoin [link] [comments]

Silk Network: The Transparent Underground

Zero Hype
It is likely that you have not heard of the underground team/project Silk Network, nor their ICO for DarkSilk(DSLK) which is due for release on the 5th of November. This is fully understandable as the team doesn’t consist of marketers or promoters, but simply visionaries and visionary developers. The value of Silk Network is apparent once the team, their vision and the work achieved thus far are brought to light.
The Silk Network team consists of 8 protagonists (https://silknetwork.org/), all of whom are involved with crypto-currency for not just the social change it will bring, but to proactively improve the securing of the user via trust-less systems, hardened algorithms, encryption, quantum cryptography, blockchain development and decentralisation.
Silk Network Team:
• Spencer Lievens (CTO) • Mark Sanders (Business Strategist/Spokesman) • Matthew Langdon (Web Admin/Developer) • Amir Abrams (Developer) • Gregory Betz (Developer) • Ahmad Kazi (Developer) • Romeo Demurashvili (Social Media/Marketing) • Jan Fox (Graphic Designe3D Modelling)
Fundamental Problem
The fault in present day crypto-currencies they say, ‘is in the way that every crypto-asset comes into being’. ‘Without addressing fundamental shortcomings, price stability is near impossible to achieve, and stability is essential for consumer markets and day-to-day purchases’.
Investors are naturally cautious, in a high risk environment who dares to make an investment? Compared to company shares, crypto-currencies are like unfilled shares: there is no currency backing. Only when a great level of market maturation has taken place can problems of dried-up markets and high price impact be overcome. All coins, yes even Bitcoin, suffer from the same fundamental problem resulting in illiquidity and high price fluctuations. Silk Network introduces a new way for crypto valuation, by changing the acquisition process it claims to have created a dynamic backing mechanism, ensuring price stability and liquidity.
Tripartite Stability
Over the course of the last two years Silk Network has sought out and adapted the best technical innovations from modern crypto-currencies into a coherent ecosystem, thus ensuring security, anonymity and long-term viability.
DarkSilk, their flagship product, is best described as a privacy-centric crypto-currency. DarkSilk is the first crypto-currency to be consistently backed by a crypto-asset i.e. Silk; a new codebase/blockchain which offers a swap from the old Silkcoin to Silk. Using the platform Weaver, Silk Network is able to place smart bids based on DarkSilk orders between Silk, DarkSilk & Bitcoin. Silk’s main function within the price stability mechanism will be to regulate demand fluctuations of DarkSilk and keep its price stable and supply abundant, all of which make up the tripartite, which is Silk Network. More on the stability mechanism can be read in their online brochure(https://silknetwork.org/files/brochure.pdf).
Roots
Silk Network is a continuation of the Silkcoin project which started in 2014. Due to the original Silkcoin having issues with its codebase, it was decided by the development team to create and swap to a new Silkcoin, simply called Silk. Previous investors of Silkcoin have the ability to exchange their old Silkcoin to Silk in Weaver at a 1:1 ratio, DarkSilk will be available in exchange of Silk or Bitcoin at market price. Silk is now traded on the American crypto-currency exchange Bittrex.
Direction and Growth
Initially revenue will be made by offering services through Weaver and through the stabilisation mechanism. Even though the majority of Weaver is a free service at this very second, once the rest of the features come online, there will be also a paid account options. The profitability of their stabilisation method is explained in the online brochure.
They are also launching a development portal named Kowari which will provide a central hub for developers to converse, share ideas, download tools and create new applications utilising both the Silk and DarkSilk blockchains.
Silk Network are also looking to begin talks with an American based private healthcare company about the Silk(SLK) blockchain being used to enable patient identity and record locations services, which is a high value industry and would bring a large amount of value in both price and exposure.
Talk Code
Codebase, they are very similar, but differ in terms of features. They are both based upon 0.11/0.12 Bitcoin, however, Silk has Proof-of-Stake that pays 2SLK per stake reward and there is no Proof-of-Work period, whereas, DarkSilk has no Proof-of-Stake but an unlimited Proof-of-Work period with no block halving and a static reward of 1DSLK per block.
In terms of features, Silk contains a decentralised DNS, MultiSig UI and a Watch-Only Address UI for the Qt wallet. Even though it has ToR connectivity, it isn’t aimed as strongly towards anonymity as DarkSilk is, however, we are looking at adding Stealth addresses and our own ring signatures from DarkSilk to Silk.
DarkSilk contains the same features as Silk in terms of the decentralised DNS, MultiSig UI and Watch-Only UI but also has the anonymity features of Sandstorm, Stealth addresses, ToR connectivity and ToR control. Currently we do not have ring signatures within DarkSilk, but this is solely because we want to create our own for both Silk and DarkSilk.
This is simply on a codebase/feature level, the key difference between the two coins is how they operate off of each other via the stabilisation mechanism in Weaver, DarkSilk being the currency and Silk the asset/collateral.
ICO
The ICO for DarkSilk(DSLK) has now entered week 2 and the second tier of bonuses (10%). Unlike many ICOs this team has brought everything to the table, including their expenditure to date prior to even releasing a single piece of software. Also, at the end of the ICO(23rd October @ Midnight GMT) the software is released less than two weeks later and payouts to investors take place. To find out more about the DarkSilk(DSLK) ICO and invest before time runs out, head over to https://silknetwork.org/darksilk/ico
Knowledge Is Power
To find out more about Silk, DarkSilk, Weaver and the Silk Network please follow the links below:
DarkSilk ICO Website - https://silknetwork.org/darksilk/ico Silk Network Website – https://silknetwork.org Weaver – https://silknetwork.org/login Silk Network Brochure – https://silknetwork.org/files/brochure.pdf Silk Network Whitepaper – https://silknetwork.org/files/whitepaper.pdf Bitcointalk Thread - https://bitcointalk.org/index.php?topic=1601099.0
Silk Network Press Release – October 2nd 2016
submitted by SilkNetwork to altcoin [link] [comments]

Silk Network: The Transparent Underground

Zero Hype
It is likely that you have not heard of the underground team/project Silk Network, nor their ICO for DarkSilk(DSLK) which is due for release on the 5th of November. This is fully understandable as the team doesn’t consist of marketers or promoters, but simply visionaries and visionary developers. The value of Silk Network is apparent once the team, their vision and the work achieved thus far are brought to light.
The Silk Network team consists of 8 protagonists (view team), all of whom are involved with crypto-currency for not just the social change it will bring, but to proactively improve the securing of the user via trust-less systems, hardened algorithms, encryption, quantum cryptography, blockchain development and decentralisation.
Silk Network Team:
• Spencer Lievens (CTO) • Mark Sanders (Business Strategist/Spokesman) • Matthew Langdon (Web Admin/Developer) • Amir Abrams (Developer) • Gregory Betz (Developer) • Ahmad Kazi (Developer) • Romeo Demurashvili (Social Media/Marketing) • Jan Fox (Graphic Designe3D Modelling)
Fundamental Problem
The fault in present day crypto-currencies they say, ‘is in the way that every crypto-asset comes into being’. ‘Without addressing fundamental shortcomings, price stability is near impossible to achieve, and stability is essential for consumer markets and day-to-day purchases’.
Investors are naturally cautious, in a high risk environment who dares to make an investment? Compared to company shares, crypto-currencies are like unfilled shares: there is no currency backing. Only when a great level of market maturation has taken place can problems of dried-up markets and high price impact be overcome. All coins, yes even Bitcoin, suffer from the same fundamental problem resulting in illiquidity and high price fluctuations. Silk Network introduces a new way for crypto valuation, by changing the acquisition process it claims to have created a dynamic backing mechanism, ensuring price stability and liquidity. Tripartite Stability
Over the course of the last two years Silk Network has sought out and adapted the best technical innovations from modern crypto-currencies into a coherent ecosystem, thus ensuring security, anonymity and long-term viability.
DarkSilk, their flagship product, is best described as a privacy-centric crypto-currency. DarkSilk is the first crypto-currency to be consistently backed by a crypto-asset i.e. Silk; a new codebase/blockchain which offers a swap from the old Silkcoin to Silk. Using the platform Weaver, Silk Network is able to place smart bids based on DarkSilk orders between Silk, DarkSilk & Bitcoin. Silk’s main function within the price stability mechanism will be to regulate demand fluctuations of DarkSilk and keep its price stable and supply abundant, all of which make up the tripartite, which is Silk Network. More on the stability mechanism can be read in their online brochure. Roots
Silk Network is a continuation of the Silkcoin project which started in 2014. Due to the original Silkcoin having issues with its codebase, it was decided by the development team to create and swap to a new Silkcoin, simply called Silk. Previous investors of Silkcoin have the ability to exchange their old Silkcoin to Silk in Weaver at a 1:1 ratio, DarkSilk will be available in exchange of Silk or Bitcoin at market price. Silk is now traded on the American crypto-currency exchange Bittrex.
Direction and Growth
Initially revenue will be made by offering services through Weaver and through the stabilisation mechanism. Even though the majority of Weaver is a free service at this very second, once the rest of the features come online, there will be also a paid account options. The profitability of their stabilisation method is explained in the online brochure.
They are also launching a development portal named Kowari which will provide a central hub for developers to converse, share ideas, download tools and create new applications utilising both the Silk and DarkSilk blockchains.
Silk Network are also looking to begin talks with an American based private healthcare company about the Silk(SLK) blockchain being used to enable patient identity and record locations services, which is a high value industry and would bring a large amount of value in both price and exposure.
Talk Code
Codebase, they are very similar, but differ in terms of features. They are both based upon 0.11/0.12 Bitcoin, however, Silk has Proof-of-Stake that pays 2SLK per stake reward and there is no Proof-of-Work period, whereas, DarkSilk has no Proof-of-Stake but an unlimited Proof-of-Work period with no block halving and a static reward of 1DSLK per block.
In terms of features, Silk contains a decentralised DNS, MultiSig UI and a Watch-Only Address UI for the Qt wallet. Even though it has ToR connectivity, it isn’t aimed as strongly towards anonymity as DarkSilk is, however, we are looking at adding Stealth addresses and our own ring signatures from DarkSilk to Silk.
DarkSilk contains the same features as Silk in terms of the decentralised DNS, MultiSig UI and Watch-Only UI but also has the anonymity features of Sandstorm, Stealth addresses, ToR connectivity and ToR control. Currently we do not have ring signatures within DarkSilk, but this is solely because we want to create our own for both Silk and DarkSIlk.
This is simply on a codebase/feature level, the key difference between the two coins is how they operate off of each other via the stabilisation mechanism in Weaver, DarkSilk being the currency and Silk the asset/collateral.
ICO
The ICO for DarkSilk(DSLK) has now entered week 2 and the second tier of bonuses (10%). Unlike many ICOs this team has brought everything to the table, including their expenditure to date prior to even releasing a single piece of software. Also, at the end of the ICO(23rd October @ Midnight GMT) the software is released less than two weeks later and payouts to investors take place. To find out more about the DarkSilk(DSLK) ICO and invest before time runs out, head over to https://silknetwork.org/darksilk/ico
Knowledge Is Power
To find out more about Silk, DarkSilk, Weaver and the Silk Network please follow the links below:
DarkSilk ICO Website - https://silknetwork.org/darksilk/ico Silk Network Website – https://silknetwork.org Weaver – https://silknetwork.org/login Silk Network Brochure – https://silknetwork.org/files/brochure.pdf Silk Network Whitepaper – https://silknetwork.org/files/whitepaper.pdf Bitcointalk Thread - https://bitcointalk.org/index.php?topic=1601099.0
Silk Network Press Release – October 2nd 2016
submitted by SilkNetwork to btc [link] [comments]

The ultimate back-up plan: Your private key, stored in the block chain, encrypted

[edit: It is the ultimate back-up, but it doesn't mean it is the safest. I'm too tired to figure that out. I'm just explaining how to store a private key in the block chain, in case it is useful or can be made useful.]
I had that idea if someone is interested, though I guess people won't like it. It's a bit wild. We encrypt the key and put it in the block chain with a trick.
I'm not saying everyone should do this, but it could be useful to know it can be done.
If you trust encryption and your password more than back-ups or a third-party, then it could be nice. I'm no encryption expert but it should be strong enough.
"Instead of taking 1.3 quadrillion years, our magical cracking supercomputer would only need 328 trillion years." http://www.kotfu.net/2011/08/what-does-it-take-to-hack-aes/
If it's flawed or gets cracked after a billion years, I decline all responsibility. But you can be sneaky about it. I propose a sneaky trick at the end. It's a bit rough on the edges and crazy but I'll put it out there. If people like it, there are always ways to streamline.
Anyway, you can't memorize the key as you can memorize a password. It's true you can put it on paper; then lose the paper. You can encrypt it and keep it on hard drive, then lose the hard drive. Or on a service, and lose the service. The block chain though, is going to stay around as long as you need the key. So I suggest this whole alternative.
You can still put the information on paper if you want. But now, just your memory is enough. Just the password.
The drawback is the infinitesimal odd of someone finding out and spending a lot of years and resources on brute-forcing. I'm not sure what would be the odds of success. Just make it so decades of computing resource cost more than what's inside.
Now I'll explain how to do it from A to Z, for the few interested.
Plan: 0) Vanity 1) Get the key 2) Encrypt the key 3) Put the key in the block chain 4) Retrieval 5) Conclusion
0) Optional: Vanity I recommend a vanity address (choosing the first part of the address). So if worst comes to worst, you find it from memory in the block chain. And also, it's kinda neato. How-to: first, download VanityGen, direct/wiki. Extract it, then Open a console window at the location with shift-right click in the folder, if you have vista/7/8. Then type "vanitygen 1something" in it. It has to start with 1. If it's too long it'll take a lot of time. Ctrl-C to cancel if it's too long. Faster with GPU: oclvanitygen -D 0:0 1something (maybe broken atm) When you have the key, type "importprivkey mykey" in Help->Debug->Console of bitcoin-qt, to add it. Result of this optional step: A beautiful address which can be retrieved from memory if needed (after it has been seen in the block chain with a transaction)
1) Get the key - Download open source Pywallet: direct/profile - Extract pywallet.py somewhere. Shift-right click in the folder and "open a console window" - In the console, type: pywallet --dumpwallet dump.txt If your wallet is encrypted, then add --passphrase=PASSPHRASE Now you find the key in dump.txt. (note: it reads the wallet at C:\Users\x\Bitcoin) Result of this step: the private key; it looks like 51 characters starting with the number 5. (To delete dump.txt, you can use a software so it can't be recovered from HDD, like Recuva it seems)
2) Encrypt the key - Choose an algorithm. Personally, I pick AES-256. - Download a trustworthy program to encrypt text with the algorithm. Here are two with GUI I found. It's open source but I didn't check it, so it's not 100% safe: http://sourceforge.net/projects/textcrypt/ https://code.google.com/p/immediatecrypt/downloads/list They're both jar files. Maybe you can click them. Personally I have to go in the console; I'm so tired of that coffee cup. "C:\Program Files (x86)\Java\jre7\bin\java.exe" -jar ImmediateCrypt.jar. It gave me an error though. Not the other. Maybe someone can suggest better. - Choose a good password. It's all about the password (and the software). AES is weak with weak password. And crazy strong with a good password. This is not like websites with protection against brute-force. People can brute-force fully if they find out. I like psycho-pass method which is about a pattern on the keyboard instead of semantics. Side Info: http://www.jmir.org/2012/1/e10/ http://www.jmir.org/2013/8/e161/ Or a passphrase if you want. Here is a nice table with password entropy: http://en.wikipedia.org/wiki/Password_strength#Random_passwords Below 64 bits of entropy, it's too unsafe, it's too weak. We need 128 bits or above, as far as I know. That is 25 random alphanumeric. If you're feeling paranoid, 256 bits. You can check entropy of password roughly here: http://rumkin.com/tools/password/passchk.php Remember it is not like websites. There is no "Forgot password?" button. Memorize it permanently; and maybe write it down in your favorite book just in case, I don't know. Result of this step: the encrypted key. It doesn't matter what it looks like as long as it takes you back to the key when you click "Decrypt". (on a different software, preferably)
3) Put the key in the block chain It works by sending some minimum amount to fake addresses, with data encoded in the addresses. Can't try this part because I don't have bitcoins. :[ Only a wallet! If some liked the guide particularly: 1thxd4KJLhBMcfCYaVKYMA8Atv3Dfx9hb :3 I'll follow the method of this great article: http://www.righto.com/2014/02/ascii-bernanke-wikileaks-photographs.html (the blog is remarkable!) - We're supposed to split the encrypted key in chunks of 20 characters. Then convert from ASCII to hex. Last chunk we fill with extra zeros. I wrote a little javascript to do it all automatically! If you don't like it, find a software, or do it manually. Not tested much but seems to work for my test. I'll say how to know if it worked. Copy that: encrypted='';har=(encrypted.split ('').map(function(c){return c.charCodeAt(0).toString(16); }));ek="";har.forEach(function(c){ek+=c;});while(ek.length%40!=0)ek+='0';iEK=0;ek2='';while(ek.length>0){ek2+=ek.substr(iEK,iEK+40) + "\n";if(ek.length>=40)ek=ek.substr(40,ek.length-40);else ek='';};ek2;
Check eventual comments to know if it's a hack/broken mess.
I don't do much Javascript, or much anything. Paste the whole thing in the javascript console. To open the console: Chrome, Ctrl-Shift-J. Firefox, Ctrl-Shift-K. IE9, F12. Put your encrypted key between the '' right at the beginning, then enter.
This should display rows of 40-characters chunks of the encrypted key in hex format (numbers, and a to f). I have 6 chunks but it depends on encryption. It should give twice as much characters as the input except for last zeros, and follow this conversion table from Char to Hx column. If it doesn't, call the police. Or use some Ascii to Hex service.
Now we take these chunks one by one and use https://blockchain.info/q/hashtoaddress/the_hex_chunk to convert to BTC addresses.
Send spare money to each one (the strict minimum is suspect and it'd get found easily) in the right order (wait for 1 or 2 confirmations each time to be sure).
And we're done! The information is safe and cozy, in the block chain. Not safe from brute-forcing, but safe from ourselves; and that's safer, isn't it?
4) Retrieval
Alright, how do we go back from the addresses to the encrypted key? I can't try it myself, but apparently, according to the article: 1) Get the transaction ID on blockchain.info, by going to the wallet's profile 2) Go to http://blockexplorer.com/rawtx/your_transaction_id 3) There will be something like that: "out":[ { "value":"25.08603421", "scriptPubKey":"OP_DUP OP_HASH160 27a1f12771de5cc3b73941664b2537c15316be43 OP_EQUALVERIFY OP_CHECKSIG" } ]
And you need to translate the "27a1f12771de5cc3b73941664b2537c15316be43" part from hex to Unicode. The result should be the chunk of encrypted key, written in hex again. You put all the parts together in order, remove extra zeros. Then use a program to go back from hex bytes to ASCII. Maybe someone can do it or I'll put the javascript one of these days if people are interested; I don't think they'll be. Usually I'm serious and extensive but you can't imagine how tired I am these days, of everything. Anyway, you put that ASCII in the AES program with your password, you click Decrypt.
Then you have your private key.
If you do this, don't lose other back-ups until you have successfully retrieved the key, to know it works.
5) Conclusion I understand that there's a small chance that someone figures the transactions are data, reassembles the parts, has massive luck and breaks the crazy strong encryption with supercomputers and botnets in less than decades, or aliens hack your bitcoins with quantum computers, ect... But I don't know, that seems very unlikely to me; more unlikely than losing personal back-ups or third-parties being untrustworthy.
More importantly, it gives peace of mind of not having to manage back-up stuff. You can format your hard drive and burn your house down if you want without worrying about losing stuff; well, except the house. And maybe the wife. Or you go to prison 20 years, and it'll still be there. If some of you want to go to prison. I know of one.
Here's a complicated idea for the extra-extra-paranoid: You send just one letter by one letter of the encrypted key, into dozens of fake addresses, to which you send bitcoins you got from an exchange and not from the main wallet, and only you know the correct addresses/order with the data, because of a pattern in the other letters. For example, the 2nd letter of the 1st data part is the 1st letter of your password when it's hashed. The 3rd letter of the 2nd data part is the 2nd letter of your hashed password. Ect... And it's not true for the other parts. So you know the order, but not someone without the password. It can go like this for many parts, then maybe if you run out of letters you send through a different wallet. All other characters are misleading except the 1st one, or last one, being the key character. And you also send money to other fake wallets which are purely misleading. Even if a flaw in AES was found and it could be broken instantly, an attacker would have to find the correct combination even before the strong encryption brute-forcing, he can't even know if he has the right combination, and that can be a big number of combinations. You can do the math. It's exponential stuff, I think. That's something I just thought of quickly, and I don't know much about any of that. Someone can find better. (Maybe, or maybe not, there's something about the encryption output which makes it so we can find the order back without password, then we'd need some kind of trick to obfuscate the position or nature of key characters but I won't spend any more time on something likely to be wrong/uninteresting).
tl;dr: "It works by sending some minimum amount to fake addresses, with data encoded in the addresses. "
Point is, once we know we can store data in the block chain, there are plenty of ways to make it so we're never locked out from the main address.
Well, if you can remember the password.
I hope this was useful to someone!
Goodbye
submitted by yemethzi to Bitcoin [link] [comments]

What Is Bitcoin Core (BTCC) ? And Why Its Important The Future Of Mining Bitcoin - Matt D'Souza - Uncle Bob Crypto Podcast 019 How to Back Up Your Bitcoin Wallet Phoenix Blockchain - Bitcoin Peter Steinmetz Blockchain&Bitcoin Conference Moscow

Help please. my bitcoin-qt suddenly stops updating from the network with up to several weeks of updates missing. i can cure it by deleting everything except my wallet and letting it reload every bit of the history. I have no idea how to fix it. There are two variations of the original bitcoin program available; one with a graphical user interface (usually referred to as just “Bitcoin”), and a 'headless' version (called bitcoind).They are completely compatible with each other, and take the same command-line arguments, read the same configuration file, and read and write the same data files. Engineering Services RHI Engineering Division provides complete range of engineering support services to all our valued Clients with full knowledge of most... Read more >> Drag the Bitcoin icon to the desired install location, and double-click the icon to run the application. Initialization. The Bitcoin window will open and connections will start up in minutes. The blocks will begin downloading. At this point, it is recommended to encrypt your wallet before receiving any bitcoins. Encrypting later may leave ... 2. Sync Blockchain data. Once Bitcoin Core launches, the welcome screen will ask you to choose a location for your data directory. This is where you’ll store your Bitcoin wallet as well as your ...

[index] [41547] [33857] [38604] [12244] [46561] [32277] [25920] [39677] [34264] [23114]

What Is Bitcoin Core (BTCC) ? And Why Its Important

This short tutorial explains what a Bitcoin wallet backup is and how to create it on 3 different wallets: Blockchain.info, Bitcoin-QT and MultiBit. For more information and tutorials about Bitocin ... Dr Peter Steinmetz gives a presentation for the Phoenix Blockchain meetup on Bitcoin basics and how some commands work in the Qt client. Mein Name ist Eduard Prinz und in meinen Videos geht es um Blockchain, Bitcoin, Ethereum, Dash, Iota, Ripple und sonstige sinnvolle Kryptowährungen und Blockchain Anwendungen und Services der ... Binance СЕО LIVE: Bitcoin price prediction & Givе Awaу BTC Binance 3,674 watching Live now Hard Forks Killing Bitcoin, $100,000 TRON Bounty And Ethereum Passes Bitcoin - Duration: 28:07. He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

#