Free Faucethub Faucet Script - openit.cc

BiblePay (BBP)

BiblePay (BBP) is a Charity Christian Cryptocurrency that donates 10% of coins to Charity every month, sponsoring orphans
[link]

Windows / Linux Guide to using Trezor with Bitcoin Core (HWI)

This is a guide to using your Trezor with Bitcoin Core. It may seem like more trouble than it's worth but many applications use Bitcoin Core as a wallet such as LND, EPS, and JoinMarket. Learning how to integrate your Trezor into a Bitcoin Core install is rather useful in many unexpected ways. I did this all through the QT interfaces, but it's simple to script. There is a much simpler guide available from the HWI github, and the smallest Linux TLDR is here
Unfortunately, I don't have access to a Coldcard or Ledger. I'm not sure how the setpin or -stdinpass parameters are handled on that HW.

( A ) Install TrezorCTL, HWI, and build GUI

You only need to set the wallet up once, but may repeat to upgrade

( A.I ) Download extract and install HWI

  1. Download and isntall Python
  2. Download https://github.com/bitcoin-core/HWI/archive/1.1.2.zip
  3. Extract it to a working folder (assumes C:\User\Reddit\src\HWI)
  4. Change Directory (cd) to working folder cd "C:\User\Reddit\src\HWI"
  5. Setup venv python -m venv .venv
  6. Enter venv .venv\Scripts\activate.bat 1
  7. Install dependencies python -m pip install -U setuptools pip wheel
  8. Install TrezorCTL python -m pip install trezor[hidapi]
  9. Install HWI python -m pip install hwi pyside2
  10. Download github.com/libusb/libusb/releases/download/v1.0.23/libusb-1.0.23.7z
  11. Extract MS64\dll\libusb-1.0.dll from the archive
  12. Copy to pywin copy libusb-1.0.dll .venv\Lib\site-packages\pywin32_system32\

( A.II ) Build the QT UI files

  1. Download and install MSYS2
  2. Launch a mingw64.exe shell
  3. CD to working folder cd "C:\User\Reddit\src\HWI"
  4. Enter venv source .venv/Scripts/activate 1
  5. Run UI build bash contrib/generate-ui.sh

( B ) Create a Trezor wallet in Bitcoin Core (testnet)

You only need to set the wallet up once, no private key data is stored, only xpub data

( B.I ) Retrieve keypool from HWI-QT

  1. Launch hwi-qt.exe --testnet (assuming testnet)
  2. Click Set passphrase (if needed) to cache your passphrase then click Refresh
  3. Select you trezor from the list then click Set Pin (if needed)
  4. Ensure your Trezor in the dropdown has a fingerprint
  5. Select Change keypool options and choose P2WPKH
  6. Copy all the text from the Keypool textbox

( B.II ) Create the wallet in Bitcoin QT

  1. Launch Bitcoin Core (testnet) (non-pruned) 2
  2. Select Console from the Window menu
  3. Create a wallet createwallet "hwi" true
  4. Ensure that hwi is selected in the console wallet dropdown
  5. Verify walletname using the getwalletinfo command
  6. Import keypool importmulti '' (note ' caging)
  7. Rescan if TXNs are missing rescanblockchain 3

( C.I ) Grab Tesnet coins

  1. Select the Receive tab in Bitcoin Core (testnet)
  2. Ensure that the Wallet dropdown has hwi selected
  3. Select Create new receiving address and copy address
  4. Google "bitcoin testnet faucet" and visit a few sites
  5. Answer captcha and input your addressed copied from C.I.3

( D ) Spending funds with HWI

This is how you can spend funds in your Trezor using Bitcoin Core (testnet)

( D.I ) Create an unsigned PSBT

  1. Select the Send tab in Bitcoin Core (testnet)
  2. Ensure that the Wallet dropdown has hwi selected
  3. Verify your balance in Watch-only balance
  4. Rescan if balance is wrong (see B.II.7) 3
  5. Craft your TXN as usual, then click Create Unsigned
  6. Copy the PSBT to your clipboard when prompted

( D.II ) Sign your PSBT

  1. In HWI-QT click Sign PSBT
  2. Paste what you copied in D.I.6 in PSBT to Sign field
  3. Click Sign PSBT
  4. Copy the text for PSBT Result

( D.III ) Broadcast your TXN

  1. Select the Console window in Bitcoin Core (testnet)
  2. Ensure that the Wallet dropdown has hwi selected
  3. Finalize PSBT: finalizepsbt
  4. Copy the signed TXN hex from the hex field returned
  5. Broadcast TXN: sendrawtransaction

Final Thoughts

I did this all through the GUI interfaces for the benefit of the Windows users. Windows console is fine, but the quote escaping in windows console is nightmarish. Powershell would be good, but that throws this on a whole another level for most Windows folks.
There is also the need to use HWI-QT due to a bug in blank passphrases on the commandline. You can work around it by toggling passphrase off or on, but again, it's more than I wanted to spell out.
Footnotes:
  • 1. - Later version of python put the activate script under 'bin' instead of 'Script'
  • 2. - You can run pruned, but you need to have a fresh wallet
  • 3. - Rescan is automatic on 'importmulti' but I was pruned so it was wierd
submitted by brianddk to Bitcoin [link] [comments]

Windows Guide to using Trezor with Bitcoin Core (HWI)

This is a guide to using your Trezor with Bitcoin Core. It may seem like more trouble than it's worth but many applications use Bitcoin Core as a wallet such as LND, EPS, and JoinMarket. Learning how to integrate your Trezor into a Bitcoin Core install is rather useful in many unexpected ways. I did this all through the QT interfaces, but it's simple to script. There is a much simpler guide available from the HWI github, and the smallest TLDR is here

( A ) Install TrezorCTL, HWI, and build GUI

You only need to set the wallet up once, but may repeat to upgrade

( A.I ) Download extract and install HWI

  1. Download and isntall Python
  2. Download https://github.com/bitcoin-core/HWI/archive/1.1.2.zip
  3. Extract it to a working folder (assumes C:\User\Reddit\src\HWI)
  4. Change Directory (cd) to working folder cd "C:\User\Reddit\src\HWI"
  5. Setup venv python -m venv .venv
  6. Enter venv .venv\Scripts\activate.bat 1
  7. Install dependencies python -m pip install -U setuptools pip wheel
  8. Install TrezorCTL python -m pip install trezor[hidapi]
  9. Install HWI python -m pip install hwi pyside2
  10. Download github.com/libusb/libusb/releases/download/v1.0.23/libusb-1.0.23.7z
  11. Extract MS64\dll\libusb-1.0.dll from the archive
  12. Copy to pywin copy libusb-1.0.dll .venv\Lib\site-packages\pywin32_system32\

( A.II ) Build the QT UI files

  1. Download and install MSYS2
  2. Launch a mingw64.exe
  3. CD to working folder cd "C:\User\Reddit\src\HWI"
  4. Enter venv source .venv/Scripts/activate 1
  5. Run UI build bash contrib/generate-ui.sh

( B ) Create a Trezor wallet in Bitcoin Core (testnet)

You only need to set the wallet up once, no private key data is stored, only xpub data

( B.I ) Retrieve keypool from HWI-QT

  1. Launch hwi-qt.exe --testnet (assuming testnet)
  2. Click Set passphrase (if needed) to cache your passphrase then click Refresh
  3. Select you trezor from the list then click Set Pin (if needed)
  4. Ensure your Trezor in the dropdown has a fingerprint
  5. Select Change keypool options and choose P2WPKH
  6. Copy all the text from the Keypool textbox

( B.II ) Create the wallet in Bitcoin QT

  1. Launch Bitcoin Core (testnet) (non-pruned) 2
  2. Select Console from the Window menu
  3. Create a wallet createwallet "hwi" true
  4. Ensure that hwi is selected in the console wallet dropdown
  5. Verify walletname using the getwalletinfo command
  6. Import keypool importmulti '' (note ' caging)
  7. Rescan if TXNs are missing rescanblockchain 3

( C.I ) Grab Tesnet coins

  1. Select the Receive tab in Bitcoin Core (testnet)
  2. Ensure that the Wallet dropdown has hwi selected
  3. Select Create new receiving address and copy address
  4. Google "bitcoin testnet faucet" and visit a few sites
  5. Answer captcha and input your addressed copied from C.I.3

( D ) Spending funds with HWI

This is how you can spend funds in your Trezor using Bitcoin Core (testnet)

( D.I ) Create an unsigned PSBT

  1. Select the Send tab in Bitcoin Core (testnet)
  2. Ensure that the Wallet dropdown has hwi selected
  3. Verify your balance in Watch-only balance
  4. Rescan if balance is wrong (see B.II.7) 3
  5. Craft your TXN as usual, then click Create Unsigned
  6. Copy the PSBT to your clipboard when prompted

( D.II ) Sign your PSBT

  1. In HWI-QT click Sign PSBT
  2. Paste what you copied in D.I.6 in PSBT to Sign field
  3. Click Sign PSBT
  4. Copy the text for PSBT Result

( D.III ) Broadcast your TXN

  1. Select the Console window in Bitcoin Core (testnet)
  2. Ensure that the Wallet dropdown has hwi selected
  3. Finalize PSBT: finalizepsbt
  4. Copy the signed TXN hex from the hex field returned
  5. Broadcast TXN: sendrawtransaction

Final Thoughts

I did this all through the GUI interfaces for the benefit of the Windows users. Windows console is fine, but the quote escaping in windows console is nightmarish. Powershell would be good, but that throws this on a whole another level for most Windows folks.
There is also the need to use HWI-QT due to a bug in blank passphrases on the commandline. You can work around it by toggling passphrase off or on, but again, it's more than I wanted to spell out.
Footnotes:
  • 1. - Later version of python put the activate script under 'bin' instead of 'Script'
  • 2. - You can run pruned, but you need to have a fresh wallet
  • 3. - Rescan is automatic on 'importmulti' but I was pruned so it was wierd
submitted by brianddk to TREZOR [link] [comments]

Monthly Nano News: December 2019 + Year Recap Special

This is what NANO has been up to lately. I don't think I lie if I say it has been quite an amazing year!
See you soon and happy new year! Something nice is coming soon that I have been working on for a while, stay tuned..

December 2019

November 2019

October 2019

September 2019

August 2019

July 2019

June 2019

May 2019

Apr 2019

Mar 2019

Feb 2019

Jan 2019


More news here: https://nanolinks.info/news

https://preview.redd.it/9sw5nkoxlt741.png?width=749&format=png&auto=webp&s=3426d4eafb9430c0304a6d161596102536df4318
submitted by Joohansson to nanocurrency [link] [comments]

Marchero

With two cryptocurrency integrations under my belt I've set out with a solid plan for Monero.
Instead of jumping in and figuring it out as I go along I want to make sure that I have the solutions I'll need, well defined and scoped out. It's a good thing I'm going this path, too.
Turns out that there isn't really much in the way of JavaScript code for Monero out there. Probably the two best (and possibly only), solutions at the moment are monero-javascript and MyMonero.
Although there's no official Monero JavaScript library, the monero-javascript project is probably the closest to the original C++ client. This derived code comes in the form of WebAssembly, a low-level language that runs a lot closer to the metal than JavaScript. This means that WebAssembly is generally faster when doing things like calculations, but with some trade-offs like ease of use. JavaScript is a lot easier to code and understand, but it tends to run slower. In modern browsers, both run side by side so developers can decide which parts need to work fast, and which parts need to be easier to change and maintain.
The MyMonero project is actually a set of supporting libraries for a Monero wallet. It seems to have a lot more "real world" mileage but has a smaller dev team and hasn't been updated for many months, unlike monero-javascript which was updated as recently as today. MyMonero also uses WebAssembly for some of the core wallet functionality but the "bindings", or how this functionality is exposed to JavaScript, are different.
Between the two solutions, I've had more luck in getting support for monero-javascript. Neither project is well documented so having someone to run questions by is, at least at this point, a winning feature.
This will be my first time working with WebAssembly so factoring in some learning time is prudent. I'll only be learning to use existing code rather than learning how to write it but still, it's a new thing for me.
As I mentioned, support for Monero via JavaScript is surprisingly rare, so I may end up contributing some original code back to the project(s) I'll be using. I haven't yet decided which of them will find its way into CypherPoker.JS because there are still some open questions about how certain things are done and if they're even possible. However, right now monero-javascript is looking like the best choice.
Once I'm satisfied that all the building blocks are viable, I'll add the cryptocurrency handler and integrate it all the way through to the front end. As with BTC and BCH, a Monero testnet option will be available along with a faucet so that you can test it out without using any actual XMR. A full client option that uses the downloadable monerod client, the equivalent of a full Bitcoin node, will be available alongside the "light" option which will use external APIs. After that I'll upgrade the live demo (and server), update the wallet generator, post v0.5.2 code documentation, create a new release, and write a wrap-up post.
I want to stress again that this is all contingent on whether or not the JavaScript libraries actually do what I need them to do, and if there exists at least one public API that can be used in place of the daemon (monerod). But based on the help I've received from the Monero community so far I'm feeling optimistic.
Probably the most interesting thing about the Monero integration is that it represents the final, Rumsfeldian, "known unknown" of the CypherPoker.JS project. It's the last thing I'm embarking on with essentially zero prior knowledge; I know that I know nothing.
The rest of the project, the other cryptocurrencies, smart contracts, peer-to-peer communications - those are all things I'd at least had an introduction to if not outright practical knowledge of. When it comes time to add Ethereum support I'll be able to confidently say that it's nothing new. Incorporating Tor anonymization ... been there, done that.
When it comes to Monero, though, I'm a wide-eyed ignoramus. Never owned any XMR, never ran a Monero wallet, never tried out a Monero block explorer; seems I'm even getting some of the technical terminology wrong. Basically, it's the last part of the project's core vision that comes with a steep learning curve and a not-insignificant chance of failure. I mean, I don't think I'm gonna fail but I can't point to any definitive reason why I should think that.
There's no pragmatic reason to believe that March and (the) Monero (integration) will be contemporaneous but then again, why not?
submitted by monican_agent to cypherpoker [link] [comments]

A welcome message to developers from Bitcoin.com's Developer Services lead, Gabriel Cardona.

Hi, my name is Gabriel, I lead Developer Services at bitcoin.com. We have a suite of developer tools which should be familiar to an ETH dev.
https://developer.bitcoin.com is the home of all our developer documentation
https://developer.bitcoin.com/bitbox/ is our typescript framework similar to truffle
https://developer.bitcoin.com/slp is for creating, minting, sending and burning tokens. It's also a superset of BITBOX SDK
rest.bitcoin.com - this is the json rpc over http
https://bitdb.bitcoin.com - real time indexer of BCH blockchain in to mongodb collections
https://bitsocket.bitcoin.com - bitbd data in real-time over websockets
https://slpdb.bitcoin.com - entire token graph in mongodb collections
https://slpsocket.bitcoin.com - slpdb data in real-time over websockets
Badger is our fork of MetaMask for BCH:
Cashscript is our smart-contract language inspired by Solidity. It exports an Arifact w/ ABI
CashScript examples as .cash files and needed typescript files to transpile and run them
Testnet Faucet
Any of the above cloud services also works w/ testnet by adding a t to the beginning of the url. For example https://trest.bitcoin.com
We have a developer discord and a telegram room.
I'm @cgcardona and I'm happy to help on-ramp in any way. Cheers 🎩
Source.
submitted by MemoryDealers to btc [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth - yalls.org)

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

Vertnode - An automated solution for installing Vertcoin node(s) on Single Board Computers

Hello Vertcoin Community,
Eager to contribute to the Vertcoin Community I began creating step by step walkthrough guides on how to get a Vertcoin node up and running on a Raspberry Pi, Raspberry Pi Zero and Intel NUC. Along with information to get a Vertcoin node up and running was also optional steps to install p2pool-vtc.
I decided that while this step by step guide might be helpful to a few, a setup script may prove to be useful to a wider range of people. I have this script to a point where I think it may be productive to share with a bigger audience, for those who are brave and have this hardware sitting around or like to tinker with projects; I invite you to test this setup script if you are interested, if you run into errors any sort of verbose console output of the error proves to be extremely helpful in troubleshooting.
The script was designed to produce a “headless” server... meaning we will not be using a GUI to configure Vertcoin or check to see how things are running. In fact, once the server is set up, you will only interact with it using command line calls over SSH. The idea is to have this full node be simple, low-power, with optimized memory usage and something that “just runs” in your basement, closet, etc.
Why run a headless node on a Single Board Computer?
The idea is to have this full node be simple, low-power, with optimized memory usage and something that “just runs” in your basement, closet, etc.
Required: USB Flash Drive 6GB - 32GB
Please note that the script was designed for Single Board Computers first and looks for an accessible USB Flash Drive to use for storing the blockchain and swap file, as constant writing to a microSD can degrade the health of the microSD.
Supports

Hardware

All of the hardware listed above is hardware that I have personally tested / am testing on myself. The plan is to continue expanding my arsenal of single board computers and continue to add support for more hardware to ensure as much compatibility as possible.
Functionality
It is worth noting that LIT can be ran with multiple configurations, the ones displayed in the Post Installation Report reflect values that run LIT with the Vertcoin Mainnet. Please be aware that the Vertcoin Testnet chain has not been mined 100% of the time in the past, if you make transactions on the Vertcoin testnet that do not go through it is likely because the chain has stopped being mined.
BE CAREFUL WITH YOUR COINS, ONLY TEST WITH WHAT YOU ARE OKAY WITH LOSING IF YOU USE THE MAINNET.

Vertcoin Testnet Coins

https://tvtc.blkidx.org/faucet/
I've included some documentation on LIT I created which includes information I found to be useful: https://github.com/e-corp-sam-sepiol/vertnode/blob/mastedocs/lit.md
Please visit the mit-dci/lit github repository for the most up to date information on lit: https://github.com/mit-dci/lit

Vertnode | Automated Vertcoin Node Installation Script

https://github.com/e-corp-sam-sepiol/vertnode

Recommended: Use Etcher to install the chosen OS to your microSD card / USB flash drive.

If you intend on installing Ubuntu Server 16.04 to your Intel NUC please use Etcher to install the .iso to your USB flash drive.
https://etcher.io/
PLEASE NOTE THIS SCRIPT MAY GIVE AN ERROR. THIS IS THE NATURE OF TESTING. PLEASE REPORT YOUR ERRORS IF YOU WANT THEM TO BE FIXED/RESOLVED. THANK YOU FOR BETTERING THE DEVELOPMENT OF THIS SCRIPT.

Ubuntu Server 16.04 Setup Details

You can use different clients to ssh into your node. One option is using PuTTY or Git Bash on Windows which is included in the desktop version of Git. If you are using Linux you can simply open a new terminal window and ssh to the IP address of your node (hardware you intend installing the Vertcoin node on).
You will need to know the IP address of your node, this can be found on your router page.
ssh 192.168.1.5 -l pi For example, this command uses ssh to login to 192.168.1.5 using the -l login name of pi. The IP address of your node will likely be different for you, in this example I am logging into a Raspberry Pi which has a default login name of pi.
A brief list of commands that can be used to check on the Vertcoin node status:
vertcoin-cli getblockchaininfo | Grab information about your blockchain
vertcoin-cli getblockcount | Grab the current count of blocks on your node
vertcoin-cli getconnectioncount | Grab the current count of connections to your node. A number of connections larger than 8 means that you have incoming connections to your node. The default settings are to make 8 outgoing connections. If you want incoming connections please port forward your Raspberry Pi in your Router settings page.
vertcoin-cli getpeerinfo | Grab the information about the peers you have connected to / are connected to
vertcoin-cli getnettotals | Grab network data, how much downloaded/upload displayed in bytes
tail -f ~/.vertcoin/debug.log | Output the latest lines in the Vertcoin debug.log to see verbose information about the Vertcoin daemon (ctrl+c to stop)
Thank you to all who have helped me and inspired me thus far, @b17z, @jamesl22, @vertcoinmarketingteam, @canen, @flakfired, @etang600, @BDF, @tucker178, @Xer0
This work is dedicated to the users of Vertcoin, thank you for making this possible.
7/20/2018 Thank you @CommodoreAmiga for the incredibly generous tip <3
You can reach me @Sam Sepiol#3396 on the Vertcoin Discord, here on reddit or @ [email protected]
submitted by ecorp-sam-sepiol to vertcoin [link] [comments]

Log of Mobile Wallet AMA with Lucio - 6th June 2019

Hello!
Yesterday we completed our first day of ARK Developer AMA's. I'd like to thank everyone who came and participated in each AMA and I believe it to be a big success! Community feedback can help shape how our software acts, looks and functions so if you have any ideas then feel free to join the next AMA!
Our next Developer AMA's will take place on Thursday, June 13th.
The topics of discussion will be; ARK Deployer: Alex (10:00 UTC) & ARK Internet-of-Things (IoT): Simon (20:00 UTC)
Hope to see you all there! - To join Slack, go to the following link http://slack.ark.io
----------------------------------------------------------------------------------------------------------------------------------------
Here's the log of the Mobile Wallet AMA

Lucio
Hey you all! Almost a year and a half after the first release, we are starting the development of Mobile Wallet 2.0. During this time we have collected your feedback and requests to create a wallet focused on what you need. If you have any idea, question or suggestion feel free to tell us.

spghtz (ark.party / civseed)
Hey Lucio! Thanks for dropping by.
  1. Will the mobile-wallet v2 (Android and Apple development) take place in public? Or only available when it's been released?
  2. Will the Android version be in Java, Kotlin, or a hybrid?

mak (AIP23 - Delegate Markets)
Hey lucio, thanks for the AMA. How do you guys plan on compromising between utility via plugins and different bridgechains etc vs ease of use and simplicity. Seems to me like a hard bargain, especially when you have to throw in the limitations of a touch based UI system.

Munich (ARKLand Delegate)
Hey Lucio :slightly_smiling_face: Extending @spghtz (ark.party / civseed)’s 2nd question, I’d like to ask if you guys have considered using React Native rather than Ionic for the v2 wallet

Lucio
@spghtz (ark.party / civseed)
  1. Our projects are usually developed internally, and when ready we release the source code.
  2. It will be native, but with the same codebase. I'm analyzing 4 frameworks, React Native, Vue Native, NativeScript and Flutter.

Justin (doubled1c3)
Any plans to implement security measures beyond PIN such as biometric types? I have heard this question from some users

Lucio
@mak (AIP23 - Delegate Markets)
Mobile v1 was not developed with custom networks in mind, in v2 our goal is to make the task of importing/adding /using a custom network more intuitive
I noticed that we have different types of users, from delegates to beginners, so we need to define the best experience for each one. As commented earlier today some features are not interesting for those who are not advanced.

Matthew_DC
I think, when it comes to mobile or desktop either one, if a plugin doesn’t make sense for a mobile environment or a touch based interface, then the market would show us that over time. We might take a chance on some innovative ideas and see how they play out, but for the most part I think the mobile wallet will initially feature plugins focused on payments and managing funds, voting etc, and not application specifics or elaborate functions.
Some things will just make more sense in a desktop environment.
No one is asking you guys the tough questions... like what is your favorite movie or sandwich? :joy::joy:

Alex Barnsley [ARK Team]
that’s not mobile wallet related @Matthew_DC :colbert:

alessio // fun
I asked @Alex Barnsley [ARK Team] a tough question earlier and he dodged it :colbert:

Justin (doubled1c3)
I'm curious about implementing OS notifications within the mobile wallet for some events, like "transaction received" "delegate dropped" etc. Plans for OS notifications?

Matthew_DC
I said in the blog, get to know our developers who don’t often get to be in the spotlight. :colbert:

alessio // fun
I confess I don't use the mobile wallet often, and I only have an iPhone, so I'm a bit out of the loop regarding Android. How are plans progressing regarding Ledger integration there, as I believe it's not feasible on iOS?

Munich (ARKLand Delegate)
It should be possible on iOS with the bluetooth ledger nano X

Alex Barnsley [ARK Team]
:this:

mak (AIP23 - Delegate Markets)
not really a question but since we have you here I should probably say it. I would really like it if the mobile wallet workflow was better designed for easy onboarding. right now I can't introduce people to Ark or crypto in general in a public place because writing down a seed phrase and keeping it secure becomes quite an overwhelming scenario for a new user in the middle of a crowd.

alessio // fun
Yes true I'm thinking of Nano S

mak (AIP23 - Delegate Markets)
I'd love to be able to go anywhere ask people to download the wallet and just drop them some ark like ver used to do

mak (AIP23 - Delegate Markets)
it's the best marketing you could get

Lucio
@Justin (doubled1c3)
Sorry, forgot to reply. About the alternative to the PIN, I had tried to implement the touch ID but I found it very insecure since I would have to save your passphrase basically without encryption.

goldenpepe (biz_network)
```right now I can't introduce people to Ark or crypto in general in a public place because writing down a seed phrase and keeping it secure becomes quite an overwhelming scenario for a new user in the middle of a crowd.```
I had this experience manning the faucet at Consensus 2 years ago
There was a small crowd of people all standing around the faucet on their phones trying to get past all the screens so they can get to their wallet address (edited)

mak (AIP23 - Delegate Markets)
I created a ticket about this a few months ago but it seems like it's not a priority

Lucio
@alessio // fun
In the Ledger repo has a package compatible with React Native, but as you said, only for Android: https://github.com/LedgerHQ/ledgerjs/tree/mastepackages/react-native-hid
GitHub
LedgerHQ/ledgerjs
Ledger's JavaScript libraries. Contribute to LedgerHQ/ledgerjs development by creating an account on GitHub.

alessio // fun
It probably takes a lot of time and planning to get it right, you can't just snap your fingers and come up with an easy to use onboarding process for everyone

goldenpepe (biz_network)
yea UX is hard

Colby (The Golden Horde)
replied to a thread:
Absolutely agreed there

Munich (ARKLand Delegate)
Maybe an option like on deployer.ark.io, have a “basic” mode and an “advanced”mode for onboarding

mak (AIP23 - Delegate Markets)
I suggested a solution in the github ticket which I think gets around the issue, Bitcoin.com wallet has been using it for years now which is why they can do that

Lucio
@mak (AIP23 - Delegate Markets)
I agree, backup may be the most important part, in v2 we want to make this more evident and mandatory.

Sam [ARK Team]
Do you have a link to that particular Github ticket @mak (AIP23 - Delegate Markets) by any chance? (edited)

alessio // fun
I'd be interested to see it as well

Munich (ARKLand Delegate)
iirc it’s on the mobile-wallet repo (edited)

mak (AIP23 - Delegate Markets)
https://github.com/ArkEcosystem/mobile-wallet/issues/282 @Sam [ARK Team] (edited)
GitHub
Improve onboarding process · Issue #282 · ArkEcosystem/mobile-wallet
Is your feature request related to a problem? Please describe. Current workflow of setting up a new wallet is really unfavourable for onboarding new people in public places. For instance if I want ...

alessio // fun
@Lucio Does that also apply to Nano X or just Nano S?

Lucio
Nano S, for X is this one:
https://github.com/LedgerHQ/ledgerjs/tree/mastepackages/react-native-hw-transport-ble
GitHub
LedgerHQ/ledgerjs
Ledger's JavaScript libraries. Contribute to LedgerHQ/ledgerjs development by creating an account on GitHub.

alessio // fun
And that'll work on iOS too? It'd be a big reason for me to switch from S to X if so

Lucio
Yes, it was built on the top of the package https://github.com/Polidea/react-native-ble-plx, which supports iOS
GitHub
Polidea/react-native-ble-plx
React Native BLE library. Contribute to Polidea/react-native-ble-plx development by creating an account on GitHub.

alexesm
@Lucio why are you shifting away from Ionic for the ark wallet? They are at v4.0 at the moment, seem to be a good framework.

Lucio
@Justin (doubled1c3)
About notifications, I've implemented and released notifications for incoming transactions. But it did not work properly on Android, I ended up removing it because it required more network requests and battery consumption. Probably in this new framework we will implement, since it will be native.

Alex Barnsley [ARK Team]
I believe it also caused issues with Android in that the mobile wallet was showing on the lock screen (edited)

Lucio
@alexesm
We had some performance issues, keyboard crashes and even vunerabilities with Ionic's webview

Drakeler
Is it possible in the future that ark holds the passphrase and it acts like a bank account. Than people can manage there wallet but also can recover it. Like people can choose amateur and advanced control... just an idea :)

alessio // fun
I sincerely hope not

Sam [ARK Team]
That's incredibly unlikely @Drakeler - One of the positives of decentralized networks is that people no longer need to depend on organisations to secure their funds for them. Users have full control and that's a positive thing :thumbsup::skin-tone-2:

Drakeler
But old people... altzeimer...
:)

alessio // fun
Hopefully that'll evolve from "incredibly unlikely" to "absolutely never going to happen"

Sam [ARK Team]
Well yeah, I'd go as far to say it's never going to happen.

Drakeler
Car accident..

PJ
When do you expect there to be an update on the QR code support for bridgechains. Currently the QR scanning feature on Android only supports addresses beginning with 'A' or 'D'?

Drakeler
Just thinking that people should be more satisfied if there is abackup

Alex Barnsley [ARK Team]
in those cases @Drakeler , for example, they should put it in a will or give family members they trust access in some way
(not official advice)

Lucio
@PJ tomorrow or monday we will release the update

Drakeler
But is it possible that ark wallet import it? Something like it

Munich (ARKLand Delegate)
yes you can import wallets to the mobile wallet
Ideally you will have a backup of your passphrase secured somewhere, and have a trusted person have access to it in case anything happens to you

Sam [ARK Team]
Just a few minutes left guys so if you have further questions, get them in quickly :smile: (edited)

Drakeler
I know but you can give in a email. If your wallet isn't used like a year they send the passphrase to a email you set... like an inheritance
Just a way to give people more security (edited)
Other option you might implement is like a monthly payment setting. Is that going to come?

Munich (ARKLand Delegate)
@Lucio is 2FA something that could be done in the next wallet?
I know the implications of having 2FA app and a wallet on the same device, but I see this q asked often

Lucio
@Drakeler I think LastPass has something similar to releasing access to another person if you do not use it for a while

Drakeler
Yes but ark can be the first to do it in blockchain!
Just ideas... to help ark move to the public

Lucio
I think we have already discussed the possibility of implementing 2FA between desktop and mobile, right? @Alex Barnsley [ARK Team] I'm not sure what our conclusion was about this

Alex Barnsley [ARK Team]
:yes: deemed it as not worthy, because having the 2fa locally isn’t secure
since you could have access to both ends of the 2fa process and can manipulate it
“you” being an exploiter

alessio // fun
Thanks for taking the time for this ama @Lucio

Sam [ARK Team]
The hour is now up so that concludes the AMA
Thanks to everyone who came to take part in this week's Developer AMA sessions.
submitted by avfcpieface to ArkEcosystem [link] [comments]

A handy list of links for developers who want to get started with Bitcoin Cash, BITBOX SDK, tokens, and Badger Wallet:

BITBOX
- BITBOX Intro: https://developer.bitcoin.com/bitbox
- BITBOX API docs: https://developer.bitcoin.com/bitbox/docs/getting-started
- BITBOX GitHub repo: https://github.com/Bitcoin-com/bitbox-javascript-sdk
- BITBOX SDK code examples: https://github.com/Bitcoin-com/bitbox-javascript-sdk/tree/masteexamples
- Bitbox API for BCH prices: https://index.bitcoin.com/ or with BITBOX.Price
- BCH and Wormhole testnet faucet: https://developer.bitcoin.com/faucets

SLP

- SLP SDK GitHub Repo: https://github.com/Bitcoin-com/slp-sdk - SLP API intro: https://developer.bitcoin.com/slp - SLP API docs: https://developer.bitcoin.com/slp/docs/getting-started - SLP JavaScript library: https://github.com/simpleledgeslpjs
- Token creation web app (mainnet): https://whctokens.cash/ - Badger Wallet: http://badger.bitcoin.com/ - CashID with Badger Wallet: https://cashid.badgerwallet.cash/

Wormhole

Non-technical Links
- Brief introduction to Wormhole: https://news.bitcoin.com/omni-layer-fork-called-wormhole-debuts-for-bitcoin-cash/
- An ICO using Wormhole tokens: https://news.bitcoin.com/first-major-bitcoin-cash-ico-raises-30m-in-record-time/
- Examples of crowdfunding using Wormhole: https://medium.com/@wormholecash/new-projects-are-using-whc-to-issue-crowdfunding-token-9bdbd07a0815
Technical Links - Wormhole tokens overview: https://developer.bitcoin.com/wormhole
- Wormhole API documentation: https://developer.bitcoin.com/wormhole/docs/getting-started
- Wormhole Full Node GitHub Repo: https://github.com/copernet/wormhole
- Wormholecash SDK GitHub Repo: https://github.com/Bitcoin-com/wormhole-sdk
- Wormholecash SDK code examples: https://github.com/Bitcoin-com/wormholecash/tree/masteexamples
- BCH and Wormhole testnet faucet: https://developer.bitcoin.com/faucets
- Wormhole block explorer: https://explorer.wormhole.cash/home
- Wormhole Android Wallet app: https://wallet.wormhole.cash/
submitted by MemoryDealers to btc [link] [comments]

Soo after almost 3 months of setting up I have my own LN full node running on RP3

Soo after almost 3 months of setting up I have my own LN full node running on RP3
I have been eager to try LN mainnet since the very beginning of it. I've found out about lnd, eclair, zap and other wallets but every scenario I tried to use it failed because of critical issues:
  • eclair does not really constitute a wallet, it's more like a credit card - you can send money but not receive it
  • lnd is okay, but requires a server and tons of resources for maintaining a full node, can't be used securely, efficiently and mobily at the same time
  • zap offers some cloud wallet (in testnet!) by default, this is a serious misunderstanding of my cryptoanarchy needs
  • web wallets - ah, forget it
So I've decided to use my Raspberry Pi with a very old laptop HDD attached (200GB so the pruning function has to be used) to create a backend wallet service and zap desktop (temporarily!) as my frontend control panel.
https://preview.redd.it/0vcq147887q11.png?width=1024&format=png&auto=webp&s=7bb6eccdd4110a857e5af0400acc2d7e1ee7ee85
Setting up Pi is easy, lots of tutorials over the internet, not gonna discuss it here. Then I had to obtain bitcoind (current rel: bitcoin-0.17.0-arm-linux-gnueabihf.tar.gz) and lnd (lnd-linux-armv7-v0.5-beta.tar.gz), create a bitcoin technical user, deploy the tools, configure and install new systemd services and go through the configs. This is a tricky part, so let's share:
# Generated by https://jlopp.github.io/bitcoin-core-config-generato # This config should be placed in following path: # ~/.bitcoin/bitcoin.conf # [core] # Set database cache size in megabytes; machines sync faster with a larger cache. Recommend setting as high as possible based upon machine's available RAM. dbcache=100 # Keep at most  unconnectable transactions in memory. maxorphantx=10 # Keep the transaction memory pool below  megabytes. maxmempool=50 # Reduce storage requirements by only storing most recent N MiB of block. This mode is incompatible with -txindex and -rescan. WARNING: Reverting this setting requires re-downloading the entire blockchain. (default: 0 = disable pruning blocks, 1 = allow manual pruning via RPC, greater than 550 = automatically prune blocks to stay under target size in MiB). prune=153600 # [network] # Maintain at most N connections to peers. maxconnections=40 # Use UPnP to map the listening port. upnp=1 # Tries to keep outbound traffic under the given target (in MiB per 24h), 0 = no limit. maxuploadtarget=5000 # [debug] # Log IP Addresses in debug output. logips=1 # [rpc] # Accept public REST requests. rest=1 # [wallet] # Do not load the wallet and disable wallet RPC calls. disablewallet=1 # [zeromq] # Enable publishing of raw block hex to 
. zmqpubrawblock=tcp://127.0.0.1:28332 # Enable publishing of raw transaction hex to
. zmqpubrawtx=tcp://127.0.0.1:28333 # [rpc] # Accept command line and JSON-RPC commands. server=1 # Username and hashed password for JSON-RPC connections. The field comes in the format: :$. RPC clients connect using rpcuser=/rpcpassword= arguments. You can generate this value with the ./share/rpcauth/rpcauth.py script in the Bitcoin Core repository. This option can be specified multiple times. rpcauth=xxx:yyy$zzz
Whooaa, this online config generator is really helpful, but I still had to manually correct a few things. The last line is obviously generated by rpcauth.py, I disabled the wallet functionality as lnd is going to take care of my funds. ZMQ is not available to the network so only my LND can use it, RPC usage I still have to think through a little, in general I would like to have my own block explorer some day but also be safe from any hacking attempts (thus I would need at least 2 RPC ports/user accounts - one for lnd, one for block explorer frontend). No ports open on firewall at this time, only UPnP is active and gently opens 8333 for block/tx transfers.
Now, synchronizing the blockchain took me time from mid-July to early September... The hard drive is really slow, also my external HDD drive has some trouble with its A/C adapter so Pi was getting undervoltage alerts all the time. Luckily, it is just downclocking when it happens and slowly but steadily synchronized the whole history. After all, I'm not paying even $5 monthly for a VPS, it is by design the cheapest hardware I could use to set up my LN wallet.
When bitcoind was ready (I've heard some stories about btcd but I don't trust this software yet, sorry), it's time to configure lnd.conf:
[Application Options] debuglevel=trace rpclisten=0.0.0.0:10009 externalip=X.X.X.X:9735 listen=0.0.0.0:9735 alias=X color=#XXXXXX [Bitcoin] bitcoin.active=1 bitcoin.mainnet=1 bitcoin.node=bitcoind [Bitcoind] bitcoind.rpchost=127.0.0.1 bitcoind.rpcuser=X bitcoind.rpcpass=X bitcoind.zmqpubrawblock=tcp://127.0.0.1:28332 bitcoind.zmqpubrawtx=tcp://127.0.0.1:28333 
Here I've had to XXX a little more fields, as not only the bitcoind RPC credentials are stored here, but also my node's public information (it should be illegal to run nodes without specifically selected color and alias!). It is public (and I had to open port 9735 on my firewall), but not necessarily connected to my reddit account for most of the adversaries, so let's keep it this way. In fact, I also see a security vulnerability here: my whole node's stability depends on the IP being static. I could swap it for a .tk domain but who can tell if the bad guys won't actively fight DNS system in order to prevent global economic revolution? As such, I would rather see node identification in LN based on a public key only with possible *hints* of last-known-ip-address but the whole discovery should be performed by the nodes themself in a p2p manner, obviously preventing malicious actors from poisoning the network in some way. For now, I consider the IP stability a weak link and will probably have to pay extra Bitcoin TX fees when something happens to it (not much of a cost luckily!).

https://preview.redd.it/hjd1nooo77q11.png?width=741&format=png&auto=webp&s=14214fc36e3edf139faade930f4069fc31a3e883
Okay then, lnd is up and running, had to create a wallet and give it a night for getting up to speed. I don't know really what took it so long, I'm not using Windows nor 'localhost' in the config so the issues like #1027 are not the case. But there are others like #1545 still open so I'm not going to ponder much on this. I haven't really got any idea how to automatically unlock the wallet after Pi restart (could happen any time!), especially since I only tried to unlock it locally with lncli (why would I enter the password anywhere outside that host?), but let's say that my wallet will only be as stable as my cheap hardware. That's okay for the beta phase.
Finally, zap-desktop required me to copy tls.cert and admin.macaroon files to my desktop. If my understanding of macaroon (it's like an authentication cookie, that can later be revoked) is correct then it's not an issue, however it would be nice to have a "$50 daily limit" macaroon file in the future too, just to avoid any big issues when my client machine gets stolen. Thanks to this, I can ignore the silly cloud-based modes and have fully-secure environment of my home network being the only link from me to my money.
https://preview.redd.it/11bw3dgw47q11.png?width=836&format=png&auto=webp&s=b7fa7c88d14f22441cbbfc0db036cddfd7ea8424
Aaand there it is. The IP took some time to advertise, I use 1ml.com to see if my node is there. The zap interface (ZapDesktop-linux-amd64-v0.2.2-beta.deb) lacks lots of useful information so I keep learning lncli syntax to get more data about my new peers or the routes offered. The transactions indeed run fast and are ridiculously cheap. I would really love to run Eclair with the same settings but it doesn't seem to support custom lnd (why?). In fact, since all I need is really a lncli wrapper, maybe it will be easy to write my own (seen some web gui which weighs 700MB after downloading all dependencies with npm - SICK!). Zap for iOS alpha test registration is DOWN so I couldn't try it (and I'm not sure if it allows custom lnd selection), Zap for Android doesn't even exist yet... I made a few demo transactions and now I will explore all those fancy t-shirt stores as long as the prices are still in "early investor" mode - I remember times when one could get 0.001 BTC from a faucet...
https://preview.redd.it/42sdyoce57q11.png?width=836&format=png&auto=webp&s=7ec8917eaf8f3329d51ce3e30e455254027de0ee
If you find any of the facts presented by me false, I am happy to find out more in the discussion. However what I did I did mostly for fun, without paying much attention to the source code, documentation and endless issue lists on github. By no means I claim this tutorial will work for you but I do think I shared the key points and effort estimations to help others decide if they want a full-node LN client too. I'm also interested in some ideas on what to do with it next (rather unlikely that I will share my lnd admin.macaroon with anyone!) especially if it gives me free money. For example, I can open 1000 channels and start earning money from fees, although I no longer have more Bitcoins than the LN capacity yields... I will probably keep updating the software on my Pi until it leaves beta phases and only then will pour more money inside. I'm also keen on improving the general security of my rig and those comments I will answer more seriously.
submitted by pabou to Bitcoin [link] [comments]

Monero Mining Faucet

Edit 3: We've moved to Miningfaucet.org! All previous hashes mined under wallets when we were on GitHub are still valid!
Edit: If you would like to use this site to donate to the Monero Dev team please use this address:
4AFFq5kSiGBoZ4NMDwYtN18obc8AemS33DBLWs3H7otXft3XjrpDtQGv7SqSsaBYBb98uNbr2VBBEt7f2wfn3RVGQBEP3A

Edit 2

Because of a large amount of interest we're ramping up our development. First new integration is that the button will now update when you are mining. This is a rough fix while we work on a Miner-UI similar to the one on CoinHive's main page.
Hello, all, first-time poster here. Since the recent interest in Coin-Hive from the various sites using it, I started a small project utilizing it as a faucet for more users to get their hands on XMR. Give me your feedback and feel free to contribute!
Monero Mining Faucet
The README

Monero Mining Faucet

This site uses Coin-Hive to allow users to mine for XMR using their CPU and receive small amounts of XMR.

Why is it called a Faucet?

Google.

Who is this for?

This is not meant to replace traditional mining. The purpose of this is for someone interested in earning a few XMR instead of traditional faucets. I recommend utilizing this site when you are not paying for electricity. Some examples might be using it while you're at school, at a coffee shop, or if you have very cheap electricity for whatever reason. Maybe you leave it running overnight or over the weekend on your work computer.

No Setup

The site is meant to allow mining for people who may not be able to install and set up a traditional miner on a system.

Low Payout Threshold

Traditional Mining pools require you to mine up around .5 XMR to withdraw your funds. This could take an average computer months to accumulate. With a low payout similar to a faucet it get's small amounts of Monero into the people's hands for them to use and play with but at faster rates than a traditional faucet.

Coin-Hive

Coin-Hive is a JavaScript miner that connects the users CPU to their mining pool. This functions similar a traditional mining pool in that the site can only withdraw funds once it hits 0.5 XMR. However, it is not a very efficient way to mine. Coin-Hive takes a fee of 30%(as compared to the usual 1%) and their miner is only 70% as efficient as a miner written in C++. This brings us to the next section.

How do the Devs make a profit?

We really don't. All of your profit from your hashes goes back to you if you reach the threshold. We get 1024 Hashes for each time you connect to the pool through the captcha and you mine anonymous hashes while you are not logged in with a wallet address. However, because we are not hosting the pool, and GitHub Pages is hosting the site, there is no cost. If your wallet has been inactive for a month we will claim the XMR you earned. This is not a get rich scheme, it is to support the idea of Coin-Hive and to help with the adoption of Monero by making the acquisition of small amounts to play with easier than using a traditional faucet that is concerned with making a profit.

Can I donate to the Devs?

Of course!

Contributing

Think the site is ugly? Have a feature you want to see? Great! Fix it and make a pull request!

Future Features

submitted by Emiller8800 to Monero [link] [comments]

10 months ago, I posted the idea for coinflow, a Bitcoin-driven social network. A month ago, I said the backend, netvend, was done. Now, anyone can download a basic client and participate. I'm starting a small contest: $50 tomorrow, and $200 on the 3rd, to whoever makes the coolest new netvend tools

If you're just interested in the contest, scroll down to the last heading. Otherwise, I'll begin with a description of coinflow and netvend, respectively.

The current state of netvend and coinflow

About 10 months ago, I posted an idea for a Bitcoin-driven social network. I wasn't calling it coinflow at the time, and none of it was built yet. A month ago, I announced the functional netvend prototype, which would be used as coinflow's backend.
Today, we have a basic, functional coinflow client that uses netvend as its backend. It’s a work in progress, but already, the coinflow client uses netvend to provide public chat, tipping among users, checking of an agent's history, asymmetric cryptographically encrypted “whispers”, and other basic social features.
By using netvend as the backend, coinflow is only the first of many clients that will share this social data. Imagine Facebook, but with an open market of clients a user could choose from, or even make themselves. Allowing any client is possible, because netvend charges each agent to pay for the tiny, tiny server cost of executing each request. To put the cost into perspective, a client that queries for information every second would cost the user $0.16 per year.
Feel free to download the client now, either to use or modify. For now, the client automatically takes a bit of credit from a faucet agent, so there’s no need to make a deposit. Because of netvend's open api structure, modified or even independently developed clients will access the same history and community as the original. For example, if someone wanted to make a dedicated chatting tool, it could tap into and contribute to the same chat that coinflow users access via coinflow's chat feature.

If coinflow is the social client, then what exactly is netvend?

Netvend can be thought of as a virtual library of data and payment history, open to any kind of user, client, script, or system--any “agent”. Any agent can add an entry into the database, either in the form of uploading data or by tipping another netvend agent. Data is cryptographically signed by whoever uploaded it, and all history is permanent, unfakeable, and transparent.
All netvend clients share data publicly by default. This means that, if five different developers make five different chat programs, they will share their chat history automatically, unless they take steps not to. At the same time, clients can have the option to send encrypted information to specific users, and guarantee privacy. This is what the current coinflow client offers: a public chat available to all clients, alongside an encrypted whisper feature that only certain users can decrypt.
Coinflow, on the other hand, is just an interface that uses netvend in a social way.

How does a developer access netvend?

By using netvend's three basic commands (post, tip, and query) in concert, many more interesting tools can be made. At the moment, there is only a Python api available. If you'd like to understand how to interface with netvend, check out the netvend api crash-course, which will have you interacting with netvend within minutes. Another useful tool is the netvendor api, which allows the developer to expose any arbitrary script to payment in exchange for serving requests. If you'd like to see a real example of how netvend is used, check out the coinflow client's source code.

About the contest:

I really liked the way why_bitcoin_is_cool ran his Bitcoin wizard art contest, so I'll be running my contest in a similar way: A few large prizes, and smaller tips to almost any entry.
To start the contest off, I've tipped bardiharborow $50 for his earlier work with netvend. Similarly, I've sent another $50 to wooly_sammoth for his work on the coinflow client.
I'll give $10 to the first person to create a script that performs any new, interesting action with netvend. This could be as small as around 50 lines of code, and could be some sort of simple bot, another chat client, an analyzation tool, a video upload tool, etc.
In 24 hours (at 6:00 AM UTC, May 28), $50 will go to whoever submitted the coolest tool so far.
On the 3rd of June, 6:00 AM UTC, I'll award $200 $201 to the coolest submission so far at that time.
In the meantime, I'll be tipping smaller amounts for:
I’ll tip especially well for:
Check out the comment history on this post to get a good idea of how I tip for different contributions.
I also believe some tools built with netvend have a good chance of winning anarchystar's $100k contest. For more info on this, read my response to the original post. The response describes how netvend already provides the neutrality and transparency the project would need, and goes on to describe how one would build a netvend tool that would facilitate the kind of use-case anarchystar is calling for.
If you have any questions at all, please feel free to ask!
submitted by syriven to Bitcoin [link] [comments]

[Transcript] Crypto Zombie Interview With Anonymous Komodo Founder JL777


Crypto Zombie talks about the interview at 13:30 of his video: https://www.youtube.com/watch?v=LTOdWcuuSFA
Link to full text at pages 10 to 15: https://gallery.mailchimp.com/b1c805c050ef6fca080b9d888/files/cf42e52f-5978-4f4e-b45a-241b94af4638/12_BlockchainBrief_November.pdf
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CRYPTO ZOMBIE: It is difficult to describe the Komodo Platform in just a few words. Often confused as simply a privacy coin, KMD, is actually an incredibly robust and intricate ecosystem. With Komodo’s unique spin on smart contracts, referred to as “crypto-conditions,” and the fact that KMD has already achieved 45,000 TPS (1,000,000 possible in the near future), this platform may actually be the first crypto to solve all four of blockchain’s major pain-points: privacy, scalability, interoperability, and security. In this much anticipated AMA, I got to chat with the anonymous founder of Komodo, JL777, via the Komodo Discord. Here is what JL777 had to say...

CZ: So let’s jump into this directly with the MOST requested community question: Are you Satoshi Nakamoto?

JL777: Happy to answer questions of a non-personal nature. That seems pretty personal. But I didn’t arrive in crypto until late 2013, so clearly I can’t be Satoshi. Maybe there are a lot of similarities in our beliefs, but he was gone before I arrived.

CZ: Just starting off with some fun! Alright, so all jokes asides let’s dive in. What exactly is Komodo (KMD)?

JL777: It has many different aspects, hard to make a single statement about it. I know this drives the marketing side nuts as they need these elevator pitch things. However, I can explain how it is evolving. It starts with the desired end solution: a crypto that can handle mass market scale, has privacy, is secure, and fast. Given that just getting two of those four usually requires making significant trade-offs to decentralization. You can imagine that it is not an easy problem to solve! So, KMD starts with Zcash privacy: the best available privacy tech. So, we can check that off the list. But, it needs to be secure. So I had to invent the dPoW [consensus] to leverage BTC’s massive hashrate. That allowed us to have a lot of independent chains, all secured by dPoW, which led to the runtime forking ability that lets you launch a chain from the command line without any source code changes. PoW, PoS, some hybrid, all types of premine and emission schedules.

CZ: Could you briefly explain dPoW and why it’s so secure, for those who don’t understand?

JL777: dPoW is dynamically creating decentralized checkpoints to the BTC blockchain. That means that once a block is notarized, it is like having it “write protected.” No need to worry about it being rewritten. Being rewritten is a very real danger!

CZ: So in other words as long as BTC is not under 51% attack it would be impossible for Komodo or any of it’s chains to be affected?

JL777: I wouldn’t say impossible, but it becomes order of magnitude (or more) difficult. I wrote a description of the reorg process and can post it here if you’d like.

CZ: Sure we can link to it for further research. That would be great!

JL777: https://github.com/KomodoPlatform/Mastering_CryptoConditions It directly applies to explaining dPoW. It is from the documentation on the channels CC (Crypto-Conditions), which implements an improved form of Lightning Networks and addresses the latency issue, as it provides dPoW protection to mempool transactions. With the privacy and security items addressed, the next thing to do was scaling. Along the way people kept asking for smart contracts. With the notarization process in place, it enabled us to create a solution that non-notarized chains are unable to do. That is creating a reference set of hashes that allow you to verify that a transaction on any chain has been confirmed, on any other chain. It uses a method that is very similar to SPV validation. It’s all about merkleroots and merkleroots of merkleroots from many different chains all being combined. This is sent back to the notarizer and ends up in the notarization data. Once it’s there, then any notarized chain is able to validate the raw data from a transaction that actually happened on a different chain. What that allows is a burn protocol to burn coins on one chain and recreate them on another. So, the total coins across all of the fungible chains are constant. That means you can have however many chains you need for the transactions per second (TPS) needed. Anytime you need to transfer coins from one chain to the next, you use the burn protocol. Reading it, it does seem pretty deep technical... sorry... I guess it can be summarized as using notarization to create a cluster of chains whose total coin supply is held constant. This forms our scaling solution. Instead of having to create some cutting edge networking protocol that can handle some crazy TPS, with our solution you just spawn a new chain. It is similar to building more roads if your existing roads are congested. No need for any magical maglev vacuum tube high throughput high ways. Just a bunch of normal roads, if you have a bunch of cars... Just a bunch of normal blockchains if you need a bunch of TPS. I much prefer the simple solutions, as I can fully understand those.

CZ: Exactly! Such a simple solution, but yet you still see so many people going crazy over TPS! On the topic of tech, I’m curious what your thoughts are on some of these newer solutions, such as the rise of DAG protocols?

JL777: When it gets so complex and you need some math jargon to prove that it works... well, how can I know that it does? Code isn’t exactly a math proof. I think there are many very interesting experiments. However, I prefer to stick with the tried and true Bitcoin protocol and extend it. Why reinvent the wheel? Especially when so much work has been done already to make Bitcoin work as well as it does. It only breaks down at high load and isn’t very easy to program. Though I did make an atomic swap system called BarterDEX, which does utilize the Bitcoin script.

CZ: Yes! Let’s expand on that! What is the difference between atomic swaps and etomic swaps?

JL777: Etomic swap was just my way of quickly getting ETH into the BarterDEX. BarterDEX uses the Bitcoin protocol to do swaps. ETH doesn’t do Bitcoin protocol so I made an ETOMIC coin and you swap that using the protocol. We implemented a 1:1 lock/unlock of ETH/ERC20 for the ETOMIC. It does add a new layer and with mm2, we will directly implement atomic swaps between ETH and Bitcoin protocol.

CZ: With so many blockchains now switching from ERC-20s to their own mainnets (native blockchains), does this mean that some blockchains will never be interoperable through the BarterDEX? Or do you think it’s a possibility in the future?

JL777: With there being so many totally incompatible new protocols, it seems unlikely that they will interoperate very well and will go off and create their own island. Isolated from the rest of crypto. Maybe some will be very big islands though. Unless they have enough usage on their “island” it would seem it will eventually become a problem...

CZ: This does make you wonder if TRUE interoperability between all blockchains will ever be possible...

JL777: I think if these islands wanted to be interoperable, they can add this, but I suspect some don’t want to be. They maybe have dreams of becoming the only crypto. Which, of course, is an unrealistic expectation when the barrier to create a new crypto is so low. You don’t need a nation state to create a crypto! Even with such a big barrier, we end up with hundreds of fiat currencies. There is no single global currency, so how on earth can anybody truly believe there will be some single crypto? I try to base my decisions on common sense and simplicity. It ends up being quite complex as it is, even if it is created out of simple components. Now that KMD is getting the CC extensions, it completes all the technical requirements. The Crypto Conditions is mainly for the scaling solution, but I started experimenting with it a couple months ago and it started surprising me with its power!

CZ: This is true! I know you have a unique way of handling smart contracts. What are Crypto-Conditions and what makes UTXO-based smart contracts such a breakthrough for the future of blockchain?

JL777: To call it smart contracts is really understating what it is. Consider that it is possible to have a single CC (Crypto-Condition) transaction type mean “run the associated smart contract using the interpreted language.” What the CC does is create a new vout type, like p2pk, p2pkh, p2sh, there is a new CC vout type. This is an output that needs to satisfy the specified CC script, which can handle the industry standard Crypto-Conditions specification. But I had it extended a bit so we can have custom functions that also need to be satisfied. By making it a custom function, it allows essentially anything to be implemented. And by anything, I mean ANYTHING. At first I wasn’t 100% sure of this, but my first four CC extensions I made were: faucet, rewards, dice, and assets. The faucet is a blockchain enforced faucet. Rewards is a blockchain enforced rewards plan. Basically what most people want masternodes for. Lock funds... get some extra percentage. Dice is a blockchain enforced real-time dice game, just to show that such things can be done. Assets is a token creation system that allows a user to create new tokens with a single transaction. I also implemented functions needed for a DEX. So, basically counter-party functionality. These were the first four and I did it in several weeks as I was learning about how to do it and doing them for the first time. My thinking is that after we get a critical mass of CC extensions, the vast majority of dApps can be created just via RPC calls. No need to code a new CC extension, no need to code a smart contract, just issue RPC calls (or just click buttons and forms in a GUI). The next iteration of CC, I came up with oracles, gateways, prices and channels. Oracles creates a market driven data market for “oracle-izing” data on-chain. Gateways uses the oracles and assets to automatically tokenize BTC to an on-chain asset and also allows for automatically process withdraws.
Basically the proxy DEX model of trading BTC equivalents, but it will be protected with a multisig custodians and all the tokens are locked in a contract until released with a valid deposit. The prices CC will use the oracles and gateway CC to implement a cash settled BitMEX type of leveraged betting on the BTC price. The channels CC is being debugged by one of the new devs who just started last week and it will be a better form of Lightning Network, as it uses a backward compatible transaction format, doesn’t require nodes to be online, and is secured by dPoW.

CZ: Thats crazy! Most people really have no idea the Komodo platform is this robust. Komodo seems like it has already achieved so many things: scalability, privacy, interoperability, and security. So why do you feel it often gets overshadowed by newer, more “flashy” tech, that may in fact be inferior?

JL777: I think the problem is that it has too much for any “elevator pitch,” so nobody who makes decisions in elevators decides to buy KMD! I don’t think there is any flashier tech than KMD, considering it solves all the crypto issues that other projects are struggling to do just a couple aspects of, when we can implement the entire value add of some project with a single CC that takes a few weeks to do... If that isn’t flashy, not sure what is!

CZ: So, I recently spoke with PTYX from Chainzilla. Will Komodo platform continue offering services to premiere partners or will you be “passing the torch” over to other Blockchain-as-a-service platforms like Chainzilla?

JL777: I just write code, so no idea what will happen regarding the non-coding side of things. I also don’t do GUI, so no idea when any of that will be done. I am just a simple C programmer. So I write C code to solve the deep tech issues that are otherwise unsolved.

CZ: Gotcha... But you know that’s VERY important, especially for user adoption.

JL777: Ideas by Nature I am trusting will solve the GUI issues. Much, much better than I could. I have to rely on others to get such things done.

CZ: Yes I’m excited to see how that turns out! Let’s discuss adoption. You always hear people speak about “mass adoption,” but what do you feel it will REALLY take in order for this technology to reach the masses?

JL777: Games. Realtime crypto games. That is why I did dice CC. We also have plans for a lotto CC. But, really any sort of game can be made blockchain enforceable now by using the CC tech. And, being UTXO-based, it is much more secure and so far it is much faster to code and debug.

CZ: I’m so glad you said that because I feel games will be a huge proponent as well! Are you guys looking to also be able to deal with non-fungibles? For example ERC-721s?

JL777: Already done. We just need a lot more coders, domain specific CC, to take the reference CC I am making and customizing it into some specific dApp. My role is to show the type of things that can be done, but we really need a big ecosystem with projects doing the various games and specific use case dApps.

CZ: Do you make any decisions outside of just the coding? How does the governance within Komodo work?

JL777: People like to ask me for my opinion, even on things like colors and such things, but I try to stay out of it as much as possible. Let each person with expertise make the decisions. If there is some deadlock, then maybe I let my opinion be known. But, I don’t have any special powers, other than the common sense thing, and people when they hear a good common sense solution to a problem they are battling with, it is usually adopted. But, I stay out of the team meetings and let them do their thing. Things are centralized around me too much as it is, so I try to reduce it as much as possible

CZ: That’s good to know. Seems quite fair. Everyone has a say and anyone can expand on the ecosystem how they see fit to the best of their abilities.

JL777: Yes, totally open community.

CZ: So, this is another community question: What is your relationship with ØCryptoUnion?

JL777: There is no formal relationship. They are working on some sort of gateway project, like several other projects. But, there are dozens of projects in the ecosystem and no formal relationship. This is old style crypto, not the new style corporate. At least that is how I am “managing” the open source side of things. There is a different side, that I am not involved in, so I can’t speak to how things are done there.

CZ: You bring up a good point, however, given the reality that we live in a world that is controlled by few (governments, institutions, etc), do you think a truly decentralized future is realistically possible?

JL777: A much more decentralized future is possible. But, it is also possible for a global totalitarian state. We already are close to a global surveillance state... very dangerous

CZ: I think the biggest problem is getting people to actually CARE. Most people just want the easiest, most convenient thing and often are willing to sacrifice privacy over convenience.

JL777: Well, when it comes to MONEY, people do CARE. Especially in the parts of the world where basic survival is not easy. But yes, privacy has been sacrificed a lot, to the point where people think you must be some sort of extremist if you just want to keep some privacy. But, a lot of writers of novels used pen-names. Nobody went accusing them. When the police can’t be trusted to be fair, then everybody cares about hiding as much as possible, since anything can and will be used against you! And we know we can’t trust criminals, since they ignore the law.. So why advertise to the world who you are?

CZ: I agree. People always say “well if you have nothing to hide, then who cares?” I think thats the wrong attitude. So, before we go I just wanted ask one final question. Ultimately, what is your grand vision for the Komodo Platform and what can we expect in the near future?

L777: Like you said, mass market adoption will need nice GUI. The low level tech in my mind is basically done. We just need to do a bunch more CC, which can, and will be done. Then people can make dApps via RPC calls. So with the easy to use GUI that gets mass market adoption, that achieves the goal of the scalable, secure, private and fast crypto. Likely KMD will be the first to achieve all four and have an atomic DEX to interface with many other cryptos. It has been a long journey, but within a year or so, I think I will become much less important. Things shift into the “GUI-zation” side of things. Maybe I can take a vacation...

CZ: I have no idea how to code but I can only imagine that vacation will be WELL deserved!

JL777: Just imagine writing a novel where if you make ANY mistake it crashes! Not just spelling or grammar, but character development, plot, or any error and BOOM! It’s DEAD!

CZ: Great analogy! Well, thanks so much JL777 for taking time out of your busy schedule to have this chat. You are clearly an intelligent person and I’ve really enjoyed this. There is so much more we could talk about, but unfortunately there is only so much time!

JL777: It was fun to chat! Feel free to stop by the Discord anytime. There is an “Ask-JL777 channel” here. Just post there anytime and I will answer.

submitted by KomodoWorld to komodoplatform [link] [comments]

Elicoin specifications

Elicoin is a CPU mineable cryptocurrency. It can be mined on GPU too, but CPU mining is more efficient.
Coin specifications: Coin name: Elicoin (ELI) Algorithm: YescryptR16 (CPU only) Total number of coins: 10 000 000 ELI Block time: 1 minute Block reward halving: every 500 000 blocks Maximum block size: 4 MB Initial block reward: 10 ELI Difficulty retarget: Every block (DarkGravityWave ver. 3) Premine: none
Wallet: Elicoin Core source codes Elicoin Core for Windows Elicoin Core for macOS Elicoin Core for Debian / Ubuntu Linux Elicoin Mobile Wallet for Android (on Google Play) Elicoin Mobile Wallet (Android GUI) - source codes Elicoin Mobile Wallet (Core C library) - source codes Elicoin Paper Wallet Generator
https://image.ibb.co/nMsmx8/Screenshot_20180628_004652_2.png
Mining: How to mine List of pools Elicoin GUI miner CPU miner Android miner Elicoin Linux
Community: Facebook Twitter Discord Telegram announcements Telegram chat Slack
Exchange: Crex24 - ELI / BTC BitexBay - ELI / BTC BarterDEX - Various pairs Multicoins - MC / ELI
Faucet: Faucet (3rd party - unofficial) How to use faucet How to install faucet script for Elicoin
Other: Elicoin website Block explorer Roadmap Elicoin price chart on CoinLib Elicoin price chart on Live Coin Watch Contact info and links
Please vote to get Elicoin on exchange: QuantaDEX (free votes) Vote on Altcoin.io (free votes) Vote on SouthXchange (paid votes) Vote on C-CEX (free and paid votes)
submitted by Elicoin to EliCoin [link] [comments]

Python-powered Bitcoin faucet script.

Hello pythonic people! A beginner programmer here :)
A few days ago I started working on this Bitcoin faucet script using flask microframework. After testing it out, now I finally released the script to github. It's just a simple faucet script that any registered user can claim and withdraw payout to his/her wallet directly. So, I really appreciate if anyone can contribute to the project, and give some suggestions on this as well.
Link to the script
submitted by yasmikash to Python [link] [comments]

NAV Roadmap - KR translation

Hey guys, been MIA for a few weeks getting things done. Slowly and steadily getting translations coming in from friends and translators: (Hoping our friend Mr. Fry hasn't translated this yet) -
Project Roadmap : 프로젝트 로드맵
Where we’re going : 우리가가는 곳
Cryptocurrencies are complicated, and it’s our mission to change that. The Nav Coin wallets are easy to use and have great built in privacy features : Cryptocurrency 는 복잡하고, 그것을 바꾸는 것이 우리의 사명입니다. Nav Coin 지갑은 사용이 간편하며 개인 정보 보호 기능이 뛰어납니다.
Upcoming Projects : 다가오는 프로젝트들
Our upcoming projects continue on that journey of providing great software that does the heavy lifting so you don’t have to. : 우리의 다가오는 프로젝트는 당신이 할 필요가 없도록 무거운 짐을하는 훌륭한 소프트웨어를 제공하는 여정에서 계속됩니다.
Navtech wallet rebuild : NAVTech지갑 재구성
To simplify running a NAVTech node, we are looking to integrate Nav Coin and the Subchain into a single multi-chain wallet. This will make it easier for everyone to process anonymous transactions, and is the precursor to the next generation of the NAVTech system. -NAVTech 노드 실행을 단순화하기 위해 Nav Coin과 Subchain을 단일 다중 체인 지갑에 통합하려고합니다. 이렇게하면 익명의 거래를 모든 사람이 쉽게 처리 할 수있게되며 차세대 NAVTech 시스템의 전조가됩니다.
Upgrading our anonymous tech - NAVTech 2.0 : 익명 기술 업그레이드 - NAVTech 2.0 With the multi-chain wallet working, we will then begin to port the NAVTech scripts into the wallet itself. At this point we would also look at how we can open the cluster system up to being a trustless mesh network so anyone can easily participate and gain rewards. :다중 체인 지갑이 작동하면 NAVTech 스크립트를 지갑 자체에 포팅하기 시작합니다. 이 시점에서 우리는 클러스터 시스템을 신뢰할 수없는 메쉬 네트워크로 열어 누구나 쉽게 참여하고 보상을 얻을 수있는 방법을 살펴볼 것입니다.
Nav coin direct - An easier way to buy : NAVNav Coin Direct - NAV를 구입하는보다 쉬운 방법 With the success of our PayPal NAV purchasing through our merchandise store we are going to build a purchasing platform for buying NAV with Fiat Currencies, Pay Pal, Credit Cards and more. : 우리의 상품 점포를 통해 구매 한 PayPal NAV의 성공으로 우리는 피아트 통화, Pay Pal, 신용 카드 등으로 NAV를 구입할 수있는 구매 플랫폼을 구축 할 것입니다.
Currently in progress : 현재 진행 중
Mobile & web wallets @95% : 모바일 및 웹 지갑 @ 95 % After the release of Nav Coin 4.0.0 we will begin working on a full suite of Mobile & Web Wallets based on the Copay source code. Copay is an amazing javascript based wallet which will provide us with a great platform to build our Nav Coin wallets on top of. : Nav Coin 4.0.0이 출시되면 Copay 소스 코드를 기반으로 한 전체 모바일 및 웹 지갑 제품군에 대한 작업을 시작합니다. Copay는 자바 스크립트 기반의 놀라운 지갑으로 Nav Coin 지갑을 위에 쌓을 수있는 훌륭한 플랫폼을 제공합니다.
Anonymous DApps Planning @ 90% : 익명의 DApps 기획 @ 90 % We are looking into the possibility of upgrading Nav Coin and the Subchain to implement smart contracts. The idea being this will enable people to build Anonymous Decentralized Apps (ADapps) on top of our existing dual blockchain system. This milestone for the feasibility phase of the project where we research Dapp platforms and frame up what ours will look like. : 우리는 현명한 계약을 구현하기 위해 Nav Coin과 Subchain을 업그레이드 할 수 있는지 검토하고 있습니다. 이 아이디어는 기존의 이중 블록 체인 시스템 위에 ADAP (익명 분산 응용 프로그램)를 구축 할 수있게합니다. Dapp 플랫폼을 연구하고 우리의 모습을 구성하는 프로젝트의 실현 가능성 단계에 대한이 이정표.
Marketing Roadmap @ 75% : 마케팅 로드맵 @ 75 %
With our Q1 releases out of the gate, our marketing team will be able to refocus on the wider branding message and marketing strategy. The first step is to formalise a marketing roadmap and present our marketing plan. : 당사의 1 분기 릴리즈를 통해 마케팅 팀은보다 광범위한 브랜딩 메시지 및 마케팅 전략에 다시 집중할 수있게 될 것입니다. 첫 번째 단계는 마케팅 로드맵을 공식화하고 마케팅 계획을 제시하는 것입니다.
Rebuilding the Subchain @ 50% : 서브 체인 @ 50 % 재건
With the successful upgrade to the new Nav Coin Core, we will be aligning the subchain source with the new code base. This will mean restarting that blockchain and also preparing to integrate the Subchain into the Nav Coin wallet. : 새로운 Nav Coin Core 로의 성공적인 업그레이드를 통해 서브 체인 소스를 새로운 코드 기반에 맞출 것입니다. 이것은 해당 블록 체인을 다시 시작하고 Nav Chain 지갑에 Subchain을 통합 할 준비를하는 것을 의미합니다.
NavTech Polymorph @ 33% : NavTech 다 형체 @ 33 % NAVTech Polymorph is a fusion of NAVTech’s Anon transactions and Changelly’s instant exchange. It will enable users to send any one of 25+ cryptocurrencies anonymously through the dual blockchain powered NAVTech anonymous transaction system. : NAVTech Polymorph는 NAVTech의 Anon 거래와 Changelly의 즉석 거래를 융합 한 것입니다. 사용자는 익명으로 이중 차단 체인 전원 공급 장치 NAVTech 익명 트랜잭션 시스템을 통해 25 개 이상의 암호 화 된 통화 중 하나를 보낼 수 있습니다.
Nav Pi JS @ 15% After the successful launch of NavPi, we are working towards streamlining the interface. This means a full redevelopment using Angular2 served by NodeJS. This also aims to improve the performance of the front end giving a smoother user experience. : NavPi를 성공적으로 출시 한 후 우리는 인터페이스 간소화를 위해 노력하고 있습니다. 이는 NodeJS가 제공하는 Angular2를 사용하여 전체 재개발을 의미합니다. 또한 프런트 엔드의 성능을 향상시켜보다 원활한 사용자 환경을 제공하는 것을 목표로합니다.
Completed Projects : 완료된 프로젝트
NavTech v1.2
NavTech 1.2 will address the metadata inference of NavTech transactions when the system is running at low volume. We will be implementing multiple output addresses, variable fees, time delays and dummy transactions. : NavTech 1.2는 시스템이 낮은 볼륨에서 실행될 때 NavTech 트랜잭션의 메타 데이터 추정을 처리합니다. 우리는 다중 출력 주소, 가변 수수료, 시간 지연 및 더미 트랜잭션을 구현할 것입니다.
Nav Coin Core 4.0.4
This is an important update which includes all the updates necessary to be compatible with NavTech 1.2. Updating to this version is mandatory due to the major changes to how NavTech works : 이 업데이트는 NavTech 1.2와 호환되는 데 필요한 모든 업데이트를 포함하는 중요한 업데이트입니다. 이 버전으로의 업데이트는 NavTech 작동 방식의 주요 변경 사항 때문에 필수적입니다.
NavPi 1.0.1
This is the software which the pre-built NavPi’s are shipping with from our store. This version still uses the same UI which was in 1.0.0 but the image has been rebuilt from the ground up with extra security features. : 이것은 사전 제작 된 NavPi가 우리 가게에서 배송하는 소프트웨어입니다. 이 버전은 여전히 ​​1.0.0과 동일한 UI를 사용하지만 추가 보안 기능으로 이미지가 처음부터 다시 작성되었습니다.
Copy of Pre Built NavPi's : 사전 제작 된 NavPi 사본
We are working towards sourcing and supplying NAV branded NavPi units on the Nav Coin Store. These will ship with the image pre-loaded onto the memory card so all you will need to do is plug them in and send the coins. : Nav Coin Store에서 NAV 브랜드의 NavPi 장치를 소싱 및 공급하기 위해 노력하고 있습니다. 이것들은 메모리 카드에 미리로드 된 이미지와 함께 제공 될 것입니다. 그래서 당신이 할 일은 플러그를 꽂아 동전을 보내는 것뿐입니다.
NAVTech 1.1
We are reviewing and fully unit testing the NAVTech source code. First optimizing and testing the existing source and fixing some small bugs we have listed as issues on the github project : 우리는 NAVTech 소스 코드를 검토하고 완전히 테스트하고 있습니다. 먼저 기존 소스를 최적화하고 테스트하고 github 프로젝트의 문제로 나열한 몇 가지 작은 버그를 수정합니다.
Nav Coin Core 4.0.0
We are rebuilding Nav Coin Core up to date with the Bitcoin 0.13 source. This will increase Nav Coin’s stability, capabilities and ability to integrate with other services. By updating to 0.13 we will get some great technical benefits including the capability to have a Nav Coin Insight API and Segregated Witness. : Bitcoin 0.13 소스를 사용하여 Nav Coin Core를 최신으로 재구성하고 있습니다. 이것은 Nav Coin의 안정성, 기능 및 다른 서비스와의 통합 능력을 향상시킵니다. 0.13으로 업데이트하면 Nav Coin Insight API 및 분리 된 증인을 보유 할 수있는 능력을 포함하여 많은 기술적 이점을 얻을 수 있습니다.
NavPi StakeBox
A low-energy Nav Coin staking solution based on the Raspberry-Pi platform. NAV’s highly anticipated web interface enabled staking unit, offers a more energy efficient way to earn Nav Coin rewards and participate in transaction verification. : 라스베리 -PI 플랫폼 기반의 저에너지 Nav Coin 스테 킹 솔루션. NAV의 높은 기대를 모으고있는 웹 인터페이스를 통해 스테이 킹 장치가 가능해 Nav Coin 보상을 획득하고 거래 검증에 참여할 수있는보다 에너지 효율적인 방법을 제공합니다.
Website Redesign : 웹 사이트 재 설계
We are redesigning the main Nav Coin website with the aim of giving a better experience to new and returning users. We have thoroughly mapped out the User Journey and hope this makes the site much easier to navigate and use. : 신규 및 재 방문자 사용자에게보다 나은 경험을 제공하기 위해 Nav Coin 웹 사이트를 재 설계하고 있습니다. 우리는 User Journey를 철저히 분석하여 사이트를 훨씬 쉽게 탐색하고 사용할 수 있기를 바랍니다.
Decentralization Implementation : 지방 분권화 구현
The release of the new Navtech value-transfer system, was a key piece of the decentralization network implementation. The new architecture allows Navtech servers to operate in trusted clusters and form their own private mesh network of processing servers which anyone will be able to run and earn rewards from. : 새로운 Navtech 가치 이동 시스템의 출시는 분산화 네트워크 구현의 핵심 요소였습니다. 새로운 아키텍처를 통해 Navtech 서버는 신뢰할 수있는 클러스터에서 작동하고 누구나 실행할 수 있고 보상을 얻을 수있는 자체 처리 메쉬 네트워크를 형성합니다.
Anonymous Merchant Integration : 익명 판매자 통합
Once we have finished the initial merchant gateway, we will integrate the merchant gateway with our anonymous network to allow for the anonymous purchasing of products. : 초기 상인용 게이트웨이를 마친 후에는 제품의 익명 구매를 허용하기 위해 가맹점 게이트웨이를 익명 네트워크와 통합 할 것입니다.
Merchant Gateway : 판매자 게이트웨이
Nav Coin has been added to Coin Payments merchant gateway system. This allows merchants to accept Nav Coin in their physical stores and also on their websites. : Nav Coin이 Coin Payments 가맹점 게이트웨이 시스템에 추가되었습니다. 이를 통해 판매자는 실제 매장에서 Nav Coin을 수령하고 웹 사이트에서도 Nav Coin을 수령 할 수 있습니다.
NAVTech NodeJS
Rebuilding the Nav Coin Anonymous Tranasction System “Navtech” is a top priority for us. The redevelopment of the system allows for a smoother transition to a fully decentralised system. : Nav Coin 익명 트랜샌 션 시스템 재 구축 "Navtech"은 우리에게 최우선 순위입니다. 시스템을 재개발하면 완전히 분산 된 시스템으로 원활하게 전환 할 수 있습니다. Thin Client for Desktop : 데스크탑 용 씬 클라이언트
Our custom X13 Electrum server also enables us to build a thin client for desktop. This will be a great addition to the Nav Coin software suite and give people instant access to their Nav Coin without having to sync the entire block chain! : 우리의 커스텀 X13 Electrum 서버는 데스크톱 용 씬 클라이언트를 구축 할 수있게 해줍니다. Nav Coin 소프트웨어 제품군에 추가 된 기능으로 전체 블록 체인을 동기화하지 않고도 Nav Coin에 즉시 액세스 할 수 있습니다!
NAVTech Public Release : NAVTech 공개 버전
With the main block chain successfully hard forked, the network stabilised and the major exchanges successfully running on the new wallet we are able to move forward into the final stage of deployment. The double encrypted Navajo Anonymous network will be fully functional and open to the public from Monday 23rd of March 2015. : 메인 블록 체인이 성공적으로 단단히 고정되면서 네트워크가 안정화되고 주요 교환기가 새 지갑에서 성공적으로 실행되어 배포의 최종 단계로 나아갈 수 있습니다. 이중 암호화 된 Navajo 익명 네트워크는 2015 년 3 월 23 일 월요일부터 모든 기능을 제공하며 공개됩니다.
NAVTech Beta Test : NAVTech 베타 테스트
The public beta test of our Nav Anonymous Transactions system will begin on the 1st of February 2015. It will run for two weeks at which point it will close and we will begin processing the beta results. During the testing phase there will be a bounty set for anyone who can successfully trace the transactions from origin to destination. The beta test will be unencrypted to help us with analysis and testing. : Nav 익명 거래 시스템의 공개 베타 테스트는 2015 년 2 월 1 일부터 시작될 예정이며, 2 주일 후에 실행될 예정이며 그 시점에서 베타 결과 처리가 시작됩니다. 테스트 단계에서 원산지에서 목적지까지 트랜잭션을 성공적으로 추적 할 수있는 사람을 대상으로 현상금이 설정됩니다. 베타 테스트는 분석 및 테스트에 도움이되는 암호화되지 않은 것입니다.
Faucet : 수도꼭지
We will run a NAV faucet as well as the POS Wallet faucet. You will be able to register your wallet address with the faucet and be in the lottery to get sent free NAVs. : 우리는 NAV 수도꼭지뿐만 아니라 POS 월렛 수도꼭지를 운영 할 것입니다. 지갑 주소를 수도꼭지에 등록하고 추첨을 통해 무료 NAV를받을 수 있습니다
Block Explorer : 블록 탐색기
We have been added to the Cryptoid Block Explorer. The block explorer allows people to look up wallet addresses and see its public balance and transactions. : Cryptoid Block Explorer에 추가되었습니다. 블록 탐색기를 사용하면 사람들이 지갑 주소를 조회하고 대중의 균형과 거래를 볼 수 있습니다.
submitted by DijoinKlink to NavCoin [link] [comments]

Coin-a-Year: Nyancoin

Hello cryptocurrency lovers! Welcome to Coin-a-Year, the laziest series yet in the Coin-a-Day publishing empire. This year's coin is Nyancoin (NYAN). I originally covered Nyancoin in an article here in /cryptocurrency published January 4th, 2015.
Without (much) further ado, I'm going to include the original report next, unmodified. This is unlike my Coin-a-Week series, where I use strikeout and update in-text. Because this is going to be a longer update, I'll just make all further comments and updates below, just realize that all information below is as of January 4th, 2015 and thus is more than a year out of date as of posting now, at the end of February 2016.
Since I use horizontal rules as internal dividers in the original post, I'll use a double horizontal rule to divide the original text from this prelude and the following update.
Coin-a-Day Jan 4th
Welcome to the fourth installment of Coin-a-Day! To see convenient links to the introduction and the previous entries, please see /coinaday. Today's coin is Nyancoin (NYAN).
Summary
• ~173.6 million available currently [1]; 337 million limit [2]
• All-time high: ~0.000024 BTC on February 16, 2014 [1]
• Current price: ~3 satoshi [1]
• Current market cap: ~$1,275 [1]
• Block rate (average): 1 minute [1] [3]
• Transaction rate: ~25? / last 24 hours; estimated $3-4 [4]
• Transaction limit: 70 / second [5]
• Transaction cost: 0 for most transactions [6]
• Rich list: ??? [7]
• Exchanges: Cryptsy [8]
• Processing method: Mining [10]
• Distribution method: proof-of-work block rewards and 1% premine for "bounties, giveaways & dev support" [2] [10]
• Community: Comatose [9]
• Code/development: https://github.com/nyancoin-release/nyancoin ; there hasn't been a released code change in 10 months. The new developer has talked about some changes, but has not made a new release. He has given advice about how to keep the network running and operate the client. [10]
• Innovation or special feature: First officially licensed cryptocurrency (from Nyancat) [2]; "zombie"-coin [11]
Description / Community:
So you're probably wondering why in the world we're talking about a coin which has been declared dead and already written off. I actually first selected this coin to illustrate a "deadcoin", but the more I dug into it, the more I was amazed at the shambles I discovered. I am combining the description and community sections for this coin, because the community (or lack thereof) is the central issue for Nyancoin.
Substantially all, if not literally all, of the original infrastructure is gone. From the announcement post, the original website has expired. The nyan.cat site itself survives, but has no reference to the coin. The github repo remains, but then there was never much changed from the bitcoin/litecoin original. In fact, the COPYING file doesn't even list "Nyancoin Developers". None of the original nodes seem to be running anymore. @Nyan_Coin hasn't tweeted since July 6th. And that was just to announce posting an admittedly cute picture to facebook which makes a claim for a future which seems never to have developed. Of the original 15 pools, I think all are dead except p2pool, for which at least one node still supports NYAN. The original blockchain explorer, nyancha.in, is still running. The faucet is dead or broken. The original exchanges no longer list it (two of the three having died; SwissCEX having ended its trading as of the first of this year). And so forth.
And yet:

I'm not dead! I'm getting better!

No you're not, you'll be stone dead in a moment.
[Of course, that scene finishes with knocking out the "recovering" patient so he can be taken away...not to mention the absurdity of including Monty Python in a financial article, but moving right along.]
There is still just enough left to Nyancoin to keep it twitching, even if it is on life-support. Whether it's an individual node or whether it's a pool, there are blocks being produced at a steady rate as intended. Transactions are being processed. There is still a market. There is still a block explorer. And there is a dev. It is like a case study in the absolute minimum necessary to keep a coin alive. The most likely outcome is almost certainly a final collapse when one critical piece or another of the infrastructure goes away. And yet in the meantime, a person can own a million NYAN for $8 [12], and then move this coin quickly and easy, albeit with no particular external demand. It's like the world's most hyped testnet.
I think this case presents an interesting example of what happens to an altcoin when its initial support dries up. NYAN coin is more fortunate than some, actually, as there are some where there are no longer any nodes running it nor the original announcement thread (in fact, there was actually a second Nyancoin launched around the same time. But it died hard and its original announcement thread was deleted and at this point I would have no idea how to access it; so "Nyancoin" thus illustrates how hard a coin can die (Nyancoin 2) as well as how it can hang around despite being proclaimed dead, with far more justification behind that pronouncement than there has been for bitcoin (NYAN) ).
Footnotes
[1] http://coinmarketcap.com/currencies/nyancoin/
[2] https://bitcointalk.org/index.php?topic=402085.0 Regarding the premine, it's unclear to me where this money is now, since the original poster hasn't been active on BCT since May and the original site is down. However, given that it's only 1%, and about $25 in value right now, there seem to be more significant concerns for NYAN.
[3] http://nyancha.in/chain/Nyancoin - Nyan blockchain explorer; blocks are somewhat inconsistent but somewhere around the 1 minute average
[4] There doesn't seem to be anything automatically doing these stats, so I did visual inspection on about 1500 blocks (about one day) excluding the block generation reward (~250k/day). Most blocks are otherwise empty. I counted about 24 transactions or so scrolling through, with an outlier around 300k NYAN and another around 100k NYAN. In total, about 500k NYAN, excluding the block rewards. This is very approximately $3-4.
[5] Nyancoin is a basically unmodified, slightly out-of-date bitcoin as far as code goes, and ignoring the change in block rate and total coin supply, as well as the difficulty retarget after every block. So for purposes of estimating maximum possible transaction throughput, I start with bitcoin's estimated 7 transactions per second, and multiply by 10 for having a block on average every minute rather than every 10 minutes. In any event, this limit is not likely to be reached in the foreseeable future.
[6] Like bitcoin, transaction fees appear to be optional in Nyancoin. Unlike bitcoin, there is almost no transaction volume, and coins tend to sit for a relatively long time before being moved. So zero-fee transactions appear to be the norm from looking at a couple transactions on the block explorer.
[7] I couldn't find one. See the disclosure section of this article: your humble correspondent is likely represented in some way on a top 100 if one were to be made or if one exists, despite not holding it directly, depending on how the exchange holds it.
[8] I could not find any other exchanges still listing Nyancoin. SwissCex appears to have disabled it as of a couple days ago. Cryptsy has a notice that the NYAN/BTC market will be closing, but its NYAN/LTC market appears strong.
[9] Essentially all of the original sites, pools, faucets, etc. are dead and there has been very little to replace it. There is basically a single node, or perhaps a very few, which are running the blockchain. However, there is a developer still trying to hold things together, maxvall_dev, maxvall on BCT. He is the last hope for the NYAN.
[10] https://bitcointalk.org/index.php?topic=597877.0 This is the thread where maxvall took over as dev, and it also discusses switching to PoS, which hasn't happened as far as I know.
[11] "zombie"-coin: Not to be confused with ZMB (my god, does it ever end?). This is my term to describe a coin which is "undead": by rights it should be dead. And yet it's still walking around and acting like it's alive. What is it? What's going on? It's quite debatable whether this gives it any special value, but I find it an interesting state, and it's why this was chosen for early coverage. There are plenty of actually popular and successful coins, and we will go onto covering more normal selections; we're looking for variety rather than repetition. But I think this is an interesting example for what can go wrong, and yet in the midst of that, how little it takes for a coin to survive. In fact, it's almost like an alternate history bitcoin to me; this shows the concept that "it was run on one computer before; it can be run on one computer again" to some extent. And there are even some strange pragmatic benefits as well, like having no competition for getting a transaction into a block and thus zero transaction fees.
[12] And, in fact, the author chose to do so today, spending about 0.03 BTC for about 1 million NYAN.
Additional Reading
/nyancoins - Like NYAN: mostly dead, but not quite
http://nyan-coin.org/ - new official website
BCT thread listing nodes, xpool (p2pool), for mining information.
americanpegasus predicting in February that NYAN will hit $1; always an entertaining read
Giveaway
Instead of a challenge today, since NYAN has enough challenges, I decided I would give away 10,000 NYAN to at least the first ten people who ask for it. This still remains at my discretion, but honestly, if you really want, say, 50,000 NYAN and create four new accounts to do so, I'll probably be too amused to say no. I don't expect to get ten requests. If I get more, I'll probably still fulfill them, but as with everything else, this is left to my whim.
Donations and Disclosure
Okay, this is an important one today because of the tiny market here. I actually hold less USD value in NYAN than in BTC, DOGE, and PPC (although my value in PPC might be about equivalent actually), but I hold more of the total market in NYAN than any of those three. And I'll probably be buying more. So I have a conflict of interest in writing this article.
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
I personally hold just over 1 million NYAN on Cryptsy right now.
Perhaps it would be better if I didn't write any articles about anything I were invested inspeculating on, but I started this series for my own education to further my speculation, so unfortunately, dear reader, your needs come second to my own. tanstaafl; you get what you pay for, and I'm giving you my thoughts.
If by some strange quirk of fate you actually own NYAN and enjoyed this article and wished to donate some to me, K7Ho9HghBF6xWwS6JsepE6RAEPyAXbsQCV is mine (first non-empty account I've posted; transferred 1000 NYAN into here earlier from Cryptsy to test that the network and my wallet were actually working).
Thank you all for reading and commenting! I've already learned a lot from this process and I look forward to more!
Upcoming coins:
• January 5th: Nxt
• January 6th: Darkcoin
• January 7th: Namecoin
I'll use alphabetic labeling for footnotes in the updates to avoid any confusion with the footnotes in the original. For simplicity, unchanged items, like the 337 million limit and the 1 minute will not be mentioned, and we'll start with the summary changes.
Updates:
Summary
  • ~263.7 million NYAN currently exist [a]
  • Current price: ~7 satoshi [b]
  • Current market cap: ~$8,000 [c]
  • Transaction rate: ~185 / last 24 hours; ~3,300,000 NYAN (~$100) [d]
  • Exchanges: Cryptopia [e]
  • Community: We're not quite dead yet; in fact, I think we're getting better! [f]
  • Code/Development: I have an early draft of NYAN2, but I'm about six months past my initial goal for having it available to use. Life/work/lack of build machine/procrastination. NYAN2 will be a rebase onto a modern LTC codebase which will soft fork to fix a current vulnerability to a fork bug. For now, the network still runs on the same code that it did when I wrote the first article.
Discussion
I'm going to consider the community first, since I pointed it out as the weakness and central topic in the last one, then talk about the technical situation briefly, and then review the financial results.
The community has been excellent, if I do say so myself. We've got working infrastructure going thanks to the contributions of many Nekonauts (see [f]). Some original Nekonauts have returned or at least popped in from time to time, and new ones like myself have found Nyancoin (I would say given what I wrote in the original, I was still a skeptic of it at that point. Not that skeptics can't be Nekonauts, but I think I'd put my conversion to the cult of nyan shortly after writing that, even though I was already a nillionaire then for the heck of it.)
While I do look forward to seeing the community continue to grow in future years and consider that important, I don't think the community is our weakest point any longer; I think it's now our strongest point. I've tried to encourage the community's revival as best I could, including giving away tens of nillions in total, and lots of long rambling articles on my views on ethics and philosophy and frankly it's worked better than I would've really expected (or at least it has coincided with an effective recovery of the community). The community also helped me through at least a couple hard times personally in there as well.
The technical situation in Nyancoin is mostly unchanged but slightly improved, although with two additional known vulnerabilities. It's unchanged in that it's the same client. It's improved in that we have an active nyanchain explorer host (nyan.space), and we have a public draft of a plan for a soft forking security fix update in the near future (hopefully by the end of March (although I've slipped these deadlines before and may well miss March for release by a bit, I do think I'm inching closer now and then)).
The most serious vulnerability is to forking. This is the bug which hit Peercoin if I recall correctly. NYAN2 is intended to solve this through its soft fork from the LTC fix upstream (from the BTC fix upstream). In the meantime, we've been lucky we haven't been attacked. The tiny marketcap probably helps with not being a particularly attractive attack target. We're not exactly about to pay ransom to move faucet outputs. But that's no excuse; we want this fixed and should have it finally done "soon" (tm).
The less serious vulnerability is to a time warp attack in the difficulty function (Kimoto Gravity Well), which relates to general weaknesses it has and issues we've had with large gaps in the block chain because of spikes in the difficulty function causing it to be unprofitable and driving away most of the hash, and then low difficulty and price rise making it attractive to more hash, creating a spike and causing it again. While this is irritating, the chain still works, even if there are fits and starts at times. An important part of the reason I can get away with this is because there is at least one Nekonaut-supporting miner, CartmanSPC, who rescues us from time to time, and did so during the course of this article being written. We have a bunch of pools, but sometimes the hash just isn't there to get us unstuck when the difficulty goes high enough. Another part of the reason I consider it not an especially serious issue is because there's a workaround which works for me (classic bad developer logic): I use a large transaction fee (generally 337 NYAN, although I might have halved it after the most recent halving, I'll probably use 337 again) on my personal wallet by default. If necessary, I use a couple of them. It can make NYAN profitable to mine again despite the higher difficulty and "unstick" the chain. The difficulty function can go back down again in the next block if the gap has been long enough, so that can be enough to keep it going again for a while (although it can also get stuck again irritatingly fast at times). A fix for this will be putting in a better difficulty function for NYAN3, which will require a hard fork. This is tentatively scheduled for feature freeze around the middle of this year, coding to follow, activation sometime early 2017.
Financial has been our most disappointing performance. A graph of the 1 year performance right now on coinmarketcap looks pretty sad, showing our fall from a little over 60 satoshi down to around 7 satoshi now.
We rose too high, too fast, and I didn't stick with the safe high paying job like a sane person. Instead I hit the road, went to jail, and worked minimum wage. That doesn't sound like a sentence from a cryptocurrency financial review, does it? But the performance of NYAN since the article has been the story of my personal finances, which is the story of my life since then.
So, autobiographical coinaday interlude, trying to keep it generally to the most salient points. Well, in 2014 I had been on my way home to Minnesota from California when I was pulled over leaving Eureka, Nevada for speeding (got sloppy and went 45 approaching the 45 sign and thus technically still in the 35; bored cop seeing out-of-state plates). My vehicle reeked of weed, what with having been in Mendocino County previously with no intention of traveling out of the county much less state anytime soon but family emergency brought me back, and the end result was a citation for possession of cannabis and paraphernalia along with the speeding.
Fast forward to the beginning of 2015, I'm settled into a good software position and start looking more at cryptocurrency in my spare time. I write the coin-a-day series for a bit and then got annoyed and quit after a while when trying to do one a day on top of an actual job was too much for me (along with some annoyance over criticism; I can be rather thin-skinned at times). But I had gotten interested in Nyancoin, and started buying it up more and more with extra money I was making.
And then comes the crash. I had to stop putting as much in as I realized that where I was living and what I was working on wasn't going to work out for me and I needed to figure something else out. So, as I seem wont to do, I went on a roadtrip. I quit my job. And I went back for the court date for my citations and refused to pay, instead spending 10 days in jail rather than pay ~$1400 (I actually had the money in cash available to me if I chose to pay as a backup if I chickened out, but the judge annoyed me enough that I really preferred to be jailed instead of paying, as stupid as that sounds since I'm quite sure the judge didn't care in the least one way or another).
After that, I went back to roadtrip lifestyle for a while. It was a nice period. A lot of beautiful scenery; a lot of reading. Eventually, I busted up my car pretty badly...a couple times actually, the second time for good. Fast forwarding through the rest of the year, I worked a couple minimum wage jobs to pay bills and avoid cubicle life and kill some time until I figured out what I was going to do next. Just recently I quit as delivery boy after getting a speeding ticket (I swear, I'm not as horrible of a driver as this makes me sounds, although I have had a bad tendency to speed in the past, which I really have curbed to almost nothing; but I'm clearly not good enough) and am currently writing a Coin-a-Year article with a friend's incentive and applying to do documentation and development with the Nu project.
Okay, so what did any of that have to do with NYAN? Well, it's the mess of a life that has led to the fall of the price from 60 satoshi to 7 satoshi. If instead my life history for the time since the article had been simply "I was happily employed writing software", then I don't believe we would have dropped below 20 satoshi. It's easy to see in hindsight. If anyone can lend me a time machine, I'm sure I can get some condensed instructions which should improve performance significantly. Otherwise, just going to have more chalked up for the "character building" tally.
So, lessons learned if you are the major buy support for your coin: you need long-term reserves. Whatever you put in bids can be taken out in a moment by a dump for no apparent reason. This is particularly true if you may be quitting your cushy, high-paying job and wandering around without income for an extended period of time. Rather obvious, but hey, maybe someone else can learn from my mistakes. If I'd been bidding as cautiously as I am now from the beginning, I think the price would probably be somewhere from 10-20 satoshi now instead of around 7 satoshi.
It's especially unfortunate given that I wanted to be able to demonstrate the more consistent growth possible building a stable store of value, as opposed to the pump and dumps common in altcoins. And instead we had a pump-and-dump looking graph ourselves after I bid up higher than I was able to sustain, and a large (10+ nillion) instadump crashed the market all the way back down to 1 satoshi momentarily. We've had a few large (2+ nillion) dumps since, but nothing that large. We haven't generally had that large of bids though either.
It's hard to know when I've exhausted the supply at a price level, when it sometimes waits for a couple weeks or even more and then fills all the bids at once. But I want to maximize the minimum price paid because I think that's important for building confidence in a store of value long-term, which is one of my core goals for NYAN.
At the same time, we're still up from the lowest parts of the floor and where I found it. Since I own about 30% [g], the very cheapest supply has been taken off the market. I plan to keep on buying up "cheap NYAN" as much as I can. I've bought up to 60 satoshi before, I'll probably buy up that high this time around. I've got a token 100,000 NYAN ask at 300 satoshi; I hope never to sell lower.
Conclusions
Now I try to wrap it all together as if I saw this all coming and am the wise expert, despite having had about 90% drop in price in the last year after bidding too high. My original concept was taking the "minimum viable coin" and reviving it to a powerhouse as a textbook example in how to do it.
Part of my core concept in this is the arbitrariness of value: throughout history, humans have chosen any number of things as a store of value for the time: salt, large rocks, certain metals, disks, marked sticks, and so forth. While there has generally been a certain logic in the choice, in that there is a locally restricted supply in one way or another, and so forth, from the perspective of other centuries or cultures the choices can seem quite strange. Growing up, I was always struck by how strange the notion of salt being limited and valuable seemed in a world where people were trying to reduce intake and large amounts could be bought for trivial sums. And yet, a key nutrient necessary for life fundamentally makes more sense as being valuable than notched sticks or printed paper or a piece of plastic with some encoded information.
Humans have perpetually come up with stranger and stranger ways of storing and transferring value. Each new step, as always, comes with its own disadvantages and, frankly, has generally appeared nonsensical at best and fraudulent at worst to the status quo. Which doesn't mean that each new attempt is valuable. The gold bugs always like to point out that every fiat currency ultimately returns to its true value of zero. And the skeptics of cryptocurrency argue that all cryptocurrencies will eventually return to their true value of zero.
It's certainly possible. And it's possible the USD will hyperinflate someday. I tend to try the moderate view for a plausible guess of the future. By that type of logic, I would guess that over the course of decades, USD will in general lose value, and cryptocurrency will tend to slowly gain value. That might not seem the moderate view, but USD not losing value over decades would be truly shocking. And hyperinflation has been predicted since the USD went off the gold standard, or before. So some amount of inflation less than hyperinflation seems like the safe guess (but then, the Titanic arriving would also have seemed like the safe guess to me). And with cryptocurrency, I think it's clear by now the technology will continue to survive. So my first question is with what overall value as a market? It could go down, of course, but that seems unlikely in an already small, young market. Even if all the current crop die off and are replaced, whatever cryptocurrencies are around should be able to do better than a handful of billion in market cap in my view.
I believe that cryptocurrency has a bright future ahead of it. The best coins should ultimately survive and thrive. But I've been wrong on most of my major calls so far, like for instance when I thought BTC was over-priced around $5-$10.
I think Nyancoin can have an important role to play in the future of cryptocurrency in the years and decades to come, but it's a massively speculative long-shot. See also Nyancoin risks document. But like Linus Torvalds' autobiography, I try to keep "Just for Fun" as a core motto and principle. It's makes for a good hobby project because there will always be more to work on, with a core community motto of
TO INFINITY AND BEYOND!
Disclaimers / Sponsorship:
As I said before:
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
And I'll reiterate that I own about 30% [g] of the current supply of NYAN, which makes me by definition maximally biased.
Also, I'm not sure what's up with the address from the first post. It doesn't show up in my current wallet as a recognized address. So, anyhow, don't send there. :-) If you'd like to donate, please consider sponsoring a coin-a-day or coin-a-week article.
This is the first sponsored article. This Coin-a-Year article has been brought to you by spydud22 's generous patronage. I'd been meaning to do a Coin-a-Week article on Nyancoin for a while, but between wanting to "wait until the price recovered a bit" and general procrastination, then it seemed like it would make a good Coin-a-Year article, and then I wanted to wait until the price recovered a bit more...anyhow, so thank you spydud22, for causing me to finally do this. :-)
Footnotes
  • [a] nyan.space/chain/Nyancoin ; as of block 1091430, 263738786.71890615 NYAN outstanding. This is slightly over 50% more than the last report, which is what we would expect, since it had existed for about a year then, and has approximately annual halvings. The first year generated about 50% of total supply; the second year generated about 25% of total supply. We should expect in a year to have about 17% (one-sixth) more than we have now.
  • [b] https://www.cryptopia.co.nz/Exchange?market=NYAN_BTC ; this is the only market reflected in coinmarketcap and it is the primary one on which I trade. Cryptopia also has other base pairs which operate at significantly higher spreads (lower bids; higher asks) and have minimal volume. In the time since the last report, NYAN has traded as high as 60 satoshi (and briefly a little higher at times), but over the last almost twelve months since a peak about a year ago, the price has been generally declining overall, as a gross oversimplification of a lot of movements. This has been an effect of me not being able to keep buying as much and there being large dumps I wasn't expecting from time-to-time. Now I'm taking the approach of building large (one or more nillion (million NYAN)) bids on each price as I slowly work my way back up again in order to be able to handle possible dumps with less price shock.
  • [c] coinmarketcap.com/currencies/nyancoin/ ; as noted in [b], this only reflects the /BTC basepair on Cryptopia but that's where most of the volume is anyhow. Of course, the market is also not particularly liquid since I'm the primary buyer and have rather limited means currently.
  • [d] I haven't setup a script to count this yet, among many things on my to-do list for someday, so I went through by hand from what was the then-latest block of 1091430 on nyan.space back to 1089766 which was the first block generated less than 24 hours before. There was actually a three and a half hour block gap at that point, such that the next prior block was about 24 hours and 15 minutes before 1091430 while 1089766 was only about 20 hours and 45 minutes prior, and has a disproportionate number of transactions and value compared to a typical block (8 and ~313,000 NYAN respectively) from the build-up during the gap. But since that gap conveniently started right about at the start of the 24 hour period, doesn't really skew our results here.
Note that there are often times where the UTXO created during one transaction during the day is spent during a later transaction in the day. This can be considered the "same" Nyancoin being "spent" twice in the same day in our total. But in practice, I believe what's happening here is the faucet is breaking off small (10-50 NYAN) pieces from a larger (~40,000 NYAN) chunk, and so that pops up a bunch of times. So the total NYAN blockchain volume as counted for this topline number should not be interpreted as "NYAN spent in the day" but "NYAN moved on the chain", where the "same coin" can move many times. So it's a very easily gamed metric and not a strong / resistant metric like the market price tends to be (at least relatively speaking), but it's a fun number to calculate and provides a little bit of information.
The transaction count can also be easily inflated and certainly, for instance, having the faucet does generate transactions which are a very common transaction.
And this is also just an arbitrary 24 hour period compared to a previous arbitrary 24 hour period. Nonetheless, I do think there's clearly a bit more activity on the Nyanchain, even though the typical block is still empty and the number of transactions and volume is still tiny compared to the major cryptocurrencies.
Here's an arbitrary example of the faucet transactions Note the zero transaction fee, which I love that the miners support (the defaults are all quite low as well).
Here's an example of what may be the smallest transaction by NYAN volume of the day; but no, I followed its small, spent output, and it led to this gem which also links to this. I have no idea what's going on here, but it's hilarious and I love it. How's that for microtransaction support? :-)
  • [e] Obviously Cryptsy went down. We had had more than enough red flags with Cryptsy (including one time where I was able to withdraw 6 nillion more than I had in my balance) and got onto Cryptopia. spydud22 basically accomplished that for us, although I helped out in the tail end of the campaigning.
  • [f] Our community is still small (I wish there were literally dozens of us!) but we've had valuable activity from multiple people, including, just as highlights, vmp32k who hosts nyan.space, a clone of the original nyancha.in, jwflame who created the excellent nyancoin.info intro site, with the awesome status page (which currently notes that "the last 500 blocks actually took 111 minutes, which is approaching the speed of light, causing the universe to become unstable"), KojoSlayer who runs the faucet and dice, spydud22 who got us on Cryptopia, and many other Nekonauts have made worthy contributions, and the Nekonauts mentioned have done more than just that listed. So while we are small, we are active at least from time to time and technically capable.
Even though our posting rate is still around 1 post a day or so on average, and so still a relatively quiet subreddit (and it is our main (only?) hub), it's still a very noticeable and significant difference from how /nyancoins looked when I was reviewing it for the original piece here. Here's an attempt to approximate what was there using Reddit search ; archive.org has a snapshot on January 19th, 2015, which is well into the early revival mania and one from August 14th, 2014, before four and a half months of little to no activity. Apparently archive.org unsubscribed to /nyancoins in that interval itself...
  • [g] Maybe up to around 35% by now; maybe still around 30%. I haven't updated hodling report lately; it was 30% last time I recall, but I've bought more and more has been made since.
submitted by coinaday to CryptoCurrency [link] [comments]

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