How important is it to keep Electrum up to date?
I am running Electrum 1.9.8, is it important for me to update to 2.5? Am i in risk of some vulnerabilities?
Submitted October 18, 2015 at 09:43PM by TheCasualBob
via reddit http://bit.ly/1PA0o2z
What’s are the best wallets to keep a 10+ bitcoins?
I'm some what new to this. I had a few satoshis for a while but I finality pull the trigger and bought some for both use and hold for the future.
Looking for wallet advice.
Submitted October 18, 2015 at 09:35PM by newtothisb
via reddit http://bit.ly/1kgsJiH
Chopcoin.io Tournament Today at 5PM EST – 0.4 BTC for the Winners
https://www.youtube.com/watch?v=E_A0AD-k-sk&feature=youtu.be
Submitted October 18, 2015 at 08:52PM by gameofthronesSAIL
via reddit http://bit.ly/1kgpVCb
First Experience with Bitcoin ATM
So I discovered that there was a bitcoin ATM located a fair distance away from where I live (about 40 min or so) and decided to try it out and sell some BTC for USD. I'm a fairly experienced bitcoin user of about two years now so I think it's safe to say I know what I am doing. Despite this experience though, I still had issues with the ATM.
After confirming my identity through a phone verification it asked me how much I wanted to sell. At a fee of 13% I decided to sell about $150 in BTC. They provide their wallet QR code and I scan it. The whole process took about 5 minutes which I believe is a normal amount of time for a fiat ATM as well. The machine provided me with a receipt that had my transaction info on it and a redemption code with which I could redeem for my USD. However, I didn't consider that the transaction needed to be confirmed. I realized this and still wasn't upset by the experience at all so left and came back after the transaction had been confirmed.
Even after it was confirmed I still couldn't withdraw my money though. Despite that it was, the machine believed that it hadn't yet been confirmed even though it had been about 15 min and both my wallet and blockchain.info verified it was confirmed. I was annoyed at this point but chalked it up to the machine requiring a certain amount of confirmations before it could release the USD. So, I ended up leaving and coming back a few hours later when it had well over 50 confirmations. It still didn't release the money insisting that it wasn't confirmed yet. I've gone ahead and emailed the owner of the ATM already to get back my BTC, but I just wanted to share my experience with you all.
If we want bitcoin ATM's to become mainstream, we need to work out the issues with them. If I were a first time user of bitcoin I would be completely turned off to it after this experience. In my opinion this includes reducing the confirmation time. mentioning somewhere on the ATM how many confirmations are required so the user can estimate his/her wait, providing reasonable fees (imagine having a 13% fee when exchanging USD for EURO), assuring there are no bugs with the ATM, and providing a more secure way to access the ATM later. Seriously, with the receipt I had anyone could have just taken it from me and I'd be out around $150.
Tl;Dr – Had issues with BTC ATM. Emailed ATM owner. Some things to help BTC ATM's go mainstream are reducing the confirmation time. mentioning somewhere on the ATM how many confirmations are required so the user can estimate his/her wait, providing reasonable fees, assuring there are no bugs with the ATM, and providing a more secure way to access the ATM later.
Submitted October 18, 2015 at 07:46PM by AnonRaccoon
via reddit http://bit.ly/1NiLbQY
Liquid created the beating heart of a new banking system, all backed by Bitcoin.
Frist, I would like to challenge ThePiachu's blog post that basically got everything wrong.
First off he said.
- Liquid is not innovative
Liquid links all partner exchanges into a high speed global banking system with bitcoin being its reserve currency.
- The technology is nothing new
This isn't about the tools, this is about the final product. Liquid is a production ready crypto-graphically secure token exchange system, backed by Bitcoin (I'm using Big B on purpose, because we're talking about the blockchain.)
I watched the R3 video the other day, then read about Liquid and immediately knew that Blockstream's announcement could not have came at a better time. R3 was all pie in the sky, but Liquid is a production ready deliverable. IMO, that's why bitcoin is going up.
- not yet sure whether Liquid provides some cryptographic receipts for deposits. If they don't – the network isn't entirely gox-proof.
From the news release: http://bit.ly/1k0TffA
Liquid is an interoperable sidechain that extends the Bitcoin blockchain while adding an auditable, cryptographically-strong commercial privacy component. Using this arrangement, Liquid leverages the reliability and security of the Bitcoin network without trusting a centralized third party. This new construction establishes a security profile inherently superior to existing methods of rapid transfer and settlement, and is directly applicable to other problems within existing financial institutions.
Anyway, enough with ThePiachu's abysmal analysis!
On to the beating heart!
Liquid will improve capital efficiency and market liquidity by facilitating rapid and secure transfers between accounts held at any participating exchange or brokerage.
All members of Liquid will be connected and able to exchange bitcoin and fiat. Not only that, but this is what BTCC said
provide nearly instantaneous global interexchange transfers for our users
This means I can have an account with BTCC and Kraken and shift money between my accounts on different exchanges in a blink of an eye. Can you imagine the arbitrage that can be accomplished with such a system and the resulting liquidity?
[…] initial launch partners include Bitfinex, BTCC, Kraken, Unocoin, and Xapo, and discussions are underway with another dozen major institutional traders and licensed exchanges.
Bitfinex (US), BTCC (China), Kraken (Europe, Japan, Canada), Unocoin(India), Xapo debit card. Who's missing? ... another dozen .... 😀
The entire ecosystem is going to be connected within the next few months.
That's the heart of a new banking system, all backed by bitcoin.
What's next?
Connect the merchants and wallets.
Bitcoin’s future is bright.
Fuck ya it is.
Submitted October 18, 2015 at 10:22AM by pizzaface18
via reddit http://bit.ly/1NOcGVF
Woah Google, getting really useful there!
http://bit.ly/1RPoAgy
Submitted October 18, 2015 at 05:45PM by Liongrass
via reddit http://bit.ly/1PzJVvo
Virtual Reality Platform Uses Digital Currency For Marketplace Micro Payments
http://bit.ly/1ZNHiKO
Submitted October 18, 2015 at 06:26PM by jaydoors
via reddit http://bit.ly/1QHpvyJ
http://bit.ly/1LXiY56 via /r/BitcoinMining http://bit.ly/1LXj0tN
Woah Google, getting really useful there!
http://bit.ly/1RPoAgy
Submitted October 18, 2015 at 05:45PM by Liongrass
via reddit http://bit.ly/1PzJVvo
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