Bitcoin Testnet Faucet

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]

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]

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]

⚡ 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]

Testnet Faucet Back Up - Donations Needed!

Hey dev community: the Bitcoin.com testnet faucet is back up and running:
https://developer.bitcoin.com/faucets/bch/

Someone hacked the app over the last couple weeks with an automated script that spoofed IP addresses. I've added additional protection to prevent this from happening again. But the wallet was drained and has less than 100 tBCH in it. We really need testnet BCH donations. Please donate to the faucet address:
bchtest:qqmd9unmhkpx4pkmr6fkrr8rm6y77vckjvqe8aey35

Please pass this around. I know there area few testnet 'whales' that hold a lot of testnet BCH. We could really use their help.
submitted by trout-bch to Bitcoincash [link] [comments]

List of Today's and Tomorrow's Upcoming Events

I will be bringing you upcoming events/announcements every day. If you want improvements to this post, please mention houseme in the comments. We will make improvements based on your feedback.
 
https://kryptocal.com | /kryptocal | Android | iOS | Telegram Interactive Bot (add cryptocalapp_bot) | Telegram Channel @kryptocal
 

ADD AN EVENT

If you like an event to be added, click Submit Event, and we will do the rest.
 

NEXT DAY UPCOMING EVENTS

 
General
Bonus Payments December 31, 2019
SDK Public v4.0 Release December 31, 2019
SGN And LiBA Mainnet December 31, 2019
BlockStamp DNS December 31, 2019
Mainnet Launch December 31, 2019
TestNet Release December 31, 2019
Final Platform Release December 31, 2019
Virtual Machine December 31, 2019
Mainnet Launch December 31, 2019
WordPress Plugin December 31, 2019
Multi-Chain Paper December 31, 2019
Go-Lachesis Release December 31, 2019
Mainnet Launch December 31, 2019
Mainnet Launch December 31, 2019
Lockup Mechanism December 31, 2019
Token Burn December 31, 2019
KAT Disabling Starts December 31, 2019
Mainnet Launch December 31, 2019
MultiPass Resource Launch December 31, 2019
Mines of Falunia Release December 31, 2019
Full Platform Launch December 31, 2019
Bitcoin(BTC) New Category: Perishables December 31, 2019
NEM(XEM) Catapult Mainnet December 31, 2019
Stellar(XLM) Q4 Protocol Upgrade December 31, 2019
Verge(XVG) Hardfork / Halving December 31, 2019
Stratis(STRAT) Proof-of-Stake Sidechains December 31, 2019
Stratis(STRAT) Stratis Core 2.0 Release December 31, 2019
Stratis(STRAT) Stratis Payment Gateway December 31, 2019
Stratis(STRAT) Java + JavaScript Support December 31, 2019
Ardor(ARDR) Pruning & Snapshots December 31, 2019
Waves(WAVES) IDE & Testing December 31, 2019
Dent(DENT) DENT eSIM (embedded SIM) December 31, 2019
PIVX(PIVX) AbraGlobal International December 31, 2019
Power Ledger(POWR) Fremantle Trial Ends December 31, 2019
Enigma(ENG) Networked Testnet Deployment December 31, 2019
TenX(PAY) TenX Cards EEA Launch December 31, 2019
Vertcoin(VTC) Quarterly Update December 31, 2019
iExec RLC(RLC) IExec V4 - HPC Computing December 31, 2019
WaBi(WABI) Expand to 500 Cities December 31, 2019
WaBi(WABI) Offline Marketing December 31, 2019
WaBi(WABI) Dual Frequency Chip December 31, 2019
WaBi(WABI) Labels w/ Metal Shielding December 31, 2019
WaBi(WABI) Expands to 250 Cities December 31, 2019
WaBi(WABI) Enhanced Marketing December 31, 2019
WaBi(WABI) AI Product Recommendation December 31, 2019
WaBi(WABI) Automatic Labeling December 31, 2019
WaBi(WABI) Payment Integration December 31, 2019
Nuls(NULS) 2.0 Mainnet Launch December 31, 2019
Genesis Vision(GVT) Q4 Token Burn December 31, 2019
Genesis Vision(GVT) Genesis Vision 2.0 December 31, 2019
Aeron(ARN) CBM Discount Card December 31, 2019
Aeron(ARN) Owner & Pilot Module December 31, 2019
Aeron(ARN) Flight Excursions December 31, 2019
VIBE(VIBE) Beta p2p File Sharing December 31, 2019
VIBE(VIBE) VIBEHub VR Headset December 31, 2019
VIBE(VIBE) Update VIBEHub SDK December 31, 2019
LIFE(LIFE) LIFEPaaS® Release December 31, 2019
Stox(STX) Annual Blockstack Summit December 31, 2019
Stox(STX) Smart Contract Language December 31, 2019
Stox(STX) Blockstack Authenticator December 31, 2019
KickCoin(KICK) KICKEX Exchange December 31, 2019
LUXCoin(LUX) LUX Web3 Interface December 31, 2019
LUXCoin(LUX) Address Visualizer December 31, 2019
LUXCoin(LUX) Zero Knowledge Proofs December 31, 2019
Hubii Network(HBT) Nahmii Public Exchange December 31, 2019
Nebulas(NAS) New Mainnet Release December 31, 2019
High Performance Blockchain(HPB) V2.0 Launch December 31, 2019
IOStoken(IOST) Network Optimization December 31, 2019
Theta Token(THETA) Expand Theta Content December 31, 2019
Elastos(ELA) Trinity Browser Release December 31, 2019
WePower(WPR) PPA Portfolio Tools December 31, 2019
DADI(DADI) DADI Queue Network-ready December 31, 2019
Pundi X [NEW](NPXS) Testnet Release December 31, 2019
Wancoin(WAN) PoS Mainnet Release December 31, 2019
Wancoin(WAN) New ERC20 Integrations December 31, 2019
Wancoin(WAN) Wanchain 4.0 Release December 31, 2019
Helbiz(HBZ) Car Sharing Infrastructure December 31, 2019
IoTeX(IOTX) Decentralized Governance December 31, 2019
Phantasma(SOUL) Phantasma Storage December 31, 2019
Phantasma(SOUL) Phantasma Storage December 31, 2019
QuarkChain(QKC) Token Testnet Release December 31, 2019
Bankera(BNK) Investment Solutions December 31, 2019 [Possible Date]
The Abyss(ABYSS) Atomic Heart Beta Release December 31, 2019
GoChain(GO) Payment Solutions December 31, 2019
0chain(ZCN) Decentralized Exchange December 31, 2019
Mainframe(MFT) Voltaire Beta 1 Release December 31, 2019
OneLedger(OLT) Mainnet Release December 31, 2019
Aegeus(AEG) AEG Network Integration December 31, 2019
Mass Vehicle Ledger(MVL) MVL, Participating in R&D December 31, 2019
aXpire(AXPR) MatchBX V1.0 December 31, 2019
YGGDRASH(YEED) Token Swap December 31, 2019
YGGDRASH(YEED) Fiat Currency Chain December 31, 2019
CoinMarketSuite January 1, 2020
ZenCash(ZEN) Faucet Bonus Day January 1, 2020
Rawcoin(XRC) Special Grace Period January 1, 2020
Auxilium(AUX) AUX Interest Distribution January 1, 2020
 
Software/Platforms
New App Funnel December 31, 2019
Hardware Wallets Support December 31, 2019
First dApps December 31, 2019
Stratis(STRAT) Breeze Privacy Protocol December 31, 2019
Stratis(STRAT) Stratis Mobile Wallet December 31, 2019
Ardor(ARDR) Wallet Prototype December 31, 2019
WaBi(WABI) New Consumer Scanning App D
 
There are more events but this message got too long
submitted by cryptocalbot to kryptocal [link] [comments]

List of Today's and Tomorrow's Upcoming Events

I will be bringing you upcoming events/announcements every day. If you want improvements to this post, please mention houseme in the comments. We will make improvements based on your feedback.
 
https://kryptocal.com | /kryptocal | Android | iOS | Telegram Interactive Bot (add cryptocalapp_bot) | Telegram Channel @kryptocal
 

ADD AN EVENT

If you like an event to be added, click Submit Event, and we will do the rest.
 

NEXT DAY UPCOMING EVENTS

 
General
Bonus Payments December 31, 2019
SDK Public v4.0 Release December 31, 2019
SGN And LiBA Mainnet December 31, 2019
BlockStamp DNS December 31, 2019
Mainnet Launch December 31, 2019
TestNet Release December 31, 2019
Final Platform Release December 31, 2019
Virtual Machine December 31, 2019
Mainnet Launch December 31, 2019
WordPress Plugin December 31, 2019
Multi-Chain Paper December 31, 2019
Go-Lachesis Release December 31, 2019
Mainnet Launch December 31, 2019
Mainnet Launch December 31, 2019
Lockup Mechanism December 31, 2019
Token Burn December 31, 2019
KAT Disabling Starts December 31, 2019
Mainnet Launch December 31, 2019
MultiPass Resource Launch December 31, 2019
Mines of Falunia Release December 31, 2019
Full Platform Launch December 31, 2019
Bitcoin(BTC) New Category: Perishables December 31, 2019
NEM(XEM) Catapult Mainnet December 31, 2019
Stellar(XLM) Q4 Protocol Upgrade December 31, 2019
Verge(XVG) Hardfork / Halving December 31, 2019
Stratis(STRAT) Proof-of-Stake Sidechains December 31, 2019
Stratis(STRAT) Stratis Core 2.0 Release December 31, 2019
Stratis(STRAT) Stratis Payment Gateway December 31, 2019
Stratis(STRAT) Java + JavaScript Support December 31, 2019
Ardor(ARDR) Pruning & Snapshots December 31, 2019
Waves(WAVES) IDE & Testing December 31, 2019
Dent(DENT) DENT eSIM (embedded SIM) December 31, 2019
PIVX(PIVX) AbraGlobal International December 31, 2019
Power Ledger(POWR) Fremantle Trial Ends December 31, 2019
Enigma(ENG) Networked Testnet Deployment December 31, 2019
TenX(PAY) TenX Cards EEA Launch December 31, 2019
Vertcoin(VTC) Quarterly Update December 31, 2019
iExec RLC(RLC) IExec V4 - HPC Computing December 31, 2019
WaBi(WABI) Expand to 500 Cities December 31, 2019
WaBi(WABI) Offline Marketing December 31, 2019
WaBi(WABI) Dual Frequency Chip December 31, 2019
WaBi(WABI) Labels w/ Metal Shielding December 31, 2019
WaBi(WABI) Expands to 250 Cities December 31, 2019
WaBi(WABI) Enhanced Marketing December 31, 2019
WaBi(WABI) AI Product Recommendation December 31, 2019
WaBi(WABI) Automatic Labeling December 31, 2019
WaBi(WABI) Payment Integration December 31, 2019
Nuls(NULS) 2.0 Mainnet Launch December 31, 2019
Genesis Vision(GVT) Q4 Token Burn December 31, 2019
Genesis Vision(GVT) Genesis Vision 2.0 December 31, 2019
Aeron(ARN) CBM Discount Card December 31, 2019
Aeron(ARN) Owner & Pilot Module December 31, 2019
Aeron(ARN) Flight Excursions December 31, 2019
VIBE(VIBE) Beta p2p File Sharing December 31, 2019
VIBE(VIBE) VIBEHub VR Headset December 31, 2019
VIBE(VIBE) Update VIBEHub SDK December 31, 2019
LIFE(LIFE) LIFEPaaS® Release December 31, 2019
Stox(STX) Annual Blockstack Summit December 31, 2019
Stox(STX) Smart Contract Language December 31, 2019
Stox(STX) Blockstack Authenticator December 31, 2019
KickCoin(KICK) KICKEX Exchange December 31, 2019
LUXCoin(LUX) LUX Web3 Interface December 31, 2019
LUXCoin(LUX) Address Visualizer December 31, 2019
LUXCoin(LUX) Zero Knowledge Proofs December 31, 2019
Hubii Network(HBT) Nahmii Public Exchange December 31, 2019
Nebulas(NAS) New Mainnet Release December 31, 2019
High Performance Blockchain(HPB) V2.0 Launch December 31, 2019
IOStoken(IOST) Network Optimization December 31, 2019
Theta Token(THETA) Expand Theta Content December 31, 2019
Elastos(ELA) Trinity Browser Release December 31, 2019
WePower(WPR) PPA Portfolio Tools December 31, 2019
DADI(DADI) DADI Queue Network-ready December 31, 2019
Pundi X [NEW](NPXS) Testnet Release December 31, 2019
Wancoin(WAN) PoS Mainnet Release December 31, 2019
Wancoin(WAN) New ERC20 Integrations December 31, 2019
Wancoin(WAN) Wanchain 4.0 Release December 31, 2019
Helbiz(HBZ) Car Sharing Infrastructure December 31, 2019
IoTeX(IOTX) Decentralized Governance December 31, 2019
Phantasma(SOUL) Phantasma Storage December 31, 2019
Phantasma(SOUL) Phantasma Storage December 31, 2019
QuarkChain(QKC) Token Testnet Release December 31, 2019
Bankera(BNK) Investment Solutions December 31, 2019 [Possible Date]
The Abyss(ABYSS) Atomic Heart Beta Release December 31, 2019
GoChain(GO) Payment Solutions December 31, 2019
0chain(ZCN) Decentralized Exchange December 31, 2019
Mainframe(MFT) Voltaire Beta 1 Release December 31, 2019
OneLedger(OLT) Mainnet Release December 31, 2019
Aegeus(AEG) AEG Network Integration December 31, 2019
Mass Vehicle Ledger(MVL) MVL, Participating in R&D December 31, 2019
aXpire(AXPR) MatchBX V1.0 December 31, 2019
YGGDRASH(YEED) Token Swap December 31, 2019
YGGDRASH(YEED) Fiat Currency Chain December 31, 2019
CoinMarketSuite January 1, 2020
ZenCash(ZEN) Faucet Bonus Day January 1, 2020
Rawcoin(XRC) Special Grace Period January 1, 2020
Auxilium(AUX) AUX Interest Distribution January 1, 2020
 
Software/Platforms
New App Funnel December 31, 2019
Hardware Wallets Support December 31, 2019
First dApps December 31, 2019
Stratis(STRAT) Breeze Privacy Protocol December 31, 2019
Stratis(STRAT) Stratis Mobile Wallet December 31, 2019
Ardor(ARDR) Wallet Prototype December 31, 2019
WaBi(WABI) New Consumer Scanning App D
 
There are more events but this message got too long
submitted by cryptocalbot to CryptoMarkets [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]

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]

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]

[uncensored-r/Bitcoin] Lightning Network Megathread

The following post by codedaway is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7npeh6
The original post's content was as follows:
Hi Everyone,
I'm trying to create a post that can be stickied with regards to the Lightning Network. This post should be used to provide as many links to as many resources as organized as possible. This is obviously a large task and I've tried to start it in hopes that I can crowdsource this in the comments to keep adding content to this post. Feel free to recommend any additions but please provide sources for your information. Also please correct myself or anything that appears up here that seems incorrect and I'll do my best to edit quickly.

What is the Lightning Network? ?

Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallet
Place a transaction

Lightning on Mainnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations:

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • lit - Lightning Network node software (Golang)
  • c-lightning - A Lightning Network implementation in C
  • 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 Visualizer (Testnet)

Community

Slack

IRC

IRC channel

  • #li...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

High-risk Security vulnerabilities Left Unchecked Before the EOS Mainnet Countdown

Why BP Candidate Alliance Couldn’t Successfully Launch EOS Mainnet NO GO
!!!Final Warning From EOSForce.io!!!
This is a technical article for the developers of the BP candidate team and those interested in EOS security research.
As a team has conducted in-depth research on EOSIO software and has conducted extensive deployment testing, EOSForce.io has repeatedly warned the security risks of mainnet, and has fixed some problems identified already. Recently, as the research deepens, we have discovered more potential security risks, and some other BP candidate have begun to pay more attention to the safety of the mainnet.
We are going to reveal nine core security issues that still plague us up to now. We have made some preliminary solutions ourselves since Block.one claims not to be responsible for the security of any mainnet. We also attempt to help you understand why EOSForce.io's changes to EOSIO are necessary. If there is a better solution, we also hope that you could communicate with us and contribute to the safety of EOS. EOSForce.io promises not voting for the Block Producer, and will not start the mainnet until the public testing is completed. It is highly not recommended that users import private keys to activate mainnet assets before that.
In order to tackle the current troubles of EOS, EOSForce.io has made the latest precautions, hoping to start the EOS mainnet safely with minimum functionality. Then slowly release the corresponding functions after the formal verification of each restriction module and the large-scale test verification passed.
1st Problem: EOS proposes a resource-based mortgage model, but the implementation is far away from its original expectation. The public chains already in operation all use fee-based model.
There are two benefits of charging transaction fee:
  1. To prevent chain-level DDOS, it is well-known that the reason that Ethereum's POW test network is often attacked is testnet token has no value and there is no threshold to prevent chain-level attacks. The reasonable setting of each code gas price for Ethereum in the past is also on this purpose. Everyone knows that the best way to prevent DDOS is to enforce the cost of attacks much greater than the profits.
  2. Transaction fee can be used as a source of incentives to maintain the ecological stability of the entire chain. The Idea of ** EOS Based, Mortgage Model ** is innovative, free of charge, at the beginning everyone (including BM) expects to prevent DDOS via staking resources, and later expects to establish EOSraM and other related resource tokens to generate incentives. What solves the problem of transaction fees. However, the issue of transaction fee is only a bit of a connection between the System contract and bottom layer, and it does not meet the expectation. For developers, as long as you randomly launch a testnet, you can send transactions without any cost, which could verify the problem I mentioned. This is a fatal problem at chain level, far more severe than 360 "epic" traditional memory leak. As long as any person opens a computer, continuously to send batch transactions to EOS network. The network will fail.
EOSForce.io Prevention 1 :In response to this issue, EOSForce.io adds a price setting to each action based on EOS. At this moment, EOS has not implemented a fully opertional resource model, so we add a fee-based filter for transaction. When BM Master get it completely done, EOSForce could turn off the transaction fee filter and eventually prevent DDOS attacks through resources staking.
2nd Problem:EOS has a root user, which means that the super-privilege can be authenticated without a private key. Besides accounts that start with the characters eosio. are all quasi-super-authority accounts (there is already eosio now). This goes against the sacred inviolability of personal assets under the protection of private keys in the basic function of blockchain philosophy.
EOSForce.io Prevention 2: In response to this problem, EOSForce.io restricts the entire system to have only one privileged account, which is eosio, whose public key is all zero, the address is EOS1111111111111111111111111111111114T1Anm. No one owns or knows its private key.
3rd Problem: The design structure of the transaction is too complicated You can see the complete EOS block data we have extracted. A transaction in EOS could consist of an array of actions and multiple context free action arrays. Inline action could be added in the action , context free action does not require signature, and actions can contain a large number of inline actions. EOS is executed sequentially in action units. The transaction can also be delayed. All these designs are very innovative, thanks to BM. However, such a sophisticated system is too large and there are many points that can be attacked. Transaction with delayed transaction, an action could include multiple inline action. Such complex functionalities require long time, variety of case combinations and strong test validation.
EOSForce.io Prevention 3: We are also organizing a lot of teams to conduct testing and verification in this area. But for the safety of stakeholders, we enforce a transaction can only include a single action, limiting context free actions requiring no signature. After the successful implementation of various tests formal verification results, as well as large-scale case test verification, this layer of filter would be removed.
https://preview.redd.it/ql0ohafwyy211.jpg?width=898&format=pjpg&auto=webp&s=be2c53d8e04f3286af1d63d354d952dae46d3384
4th Problem: EOS queries such as get table query interface can not specify keyword query in batches Here I have to marvel at BM's technical genius. He uses multi plugin pluggable module programming. Multiple modules are single-rowed and can be accessed by each other. In addition, he also used the message bus microservice programming mode. As long as each module is interested in the corresponding message and registers the corresponding message bus, corresponding messages can be accepted. However, many of the query interfaces in these modules can only be queried in batches. When the data is small, it is acceptable. But when there are a million tps, such a query allow basically no machine to meet the need. Although --key is a field in EOS, it is always as the memo parameter in the transfer interface in EOS code, only has a name, no implementation.
EOSForce.io Prevention 4: Add-key A fixed-point small query by keyword.
5th Problem: The faucet plugin in EOS has been deprecated for a long time and it's broken now. This plugin allows users to register a user name through a third party.
EOSForce.io Prevention 5: Reactivate faucet plugin.
6th Problem: The instability of chainbase database. For instance, you could call the interface of chainbase and store the same data twice, then the program could core dump. The multiIndex table in the EOS contract also utilized chainbase. When you modified the different columns of the same row in a table, only the last update will be successful.
EOSForce.io Prevention 6: We would review seriously the code related to this issue as well as other problematic parts.
7th Problem: EOS wasm-jit was a direct fork of Andrew Scheideckers code for the past two years, as well as a fork of the official webassembly. There are so many bugs within which requires large-scale testing.
EOSForce.io Prevention 7: EOSForce.io creates a built-in system contract since the genesis block, making the system contracts genuinely. EOSForce.io also limits setcode, setabi interface.
8th Problem: EOS has no world state. If you want to know whether the chain has been forked, the only avaliable approach is the block-level verification.
For example: Node A and B have a same transaction list, that is, the blocks are all the same. However, the two nodes exxcuted two different databases store for each account and the chain is unknown to that. Possibility of attack: Although BM sets that only contract table owner has privilege to modify in apply_context.cpp. However, it cannot be ruled out that the table of different contract accounts cannot be directly done related state landing attack by constructing the corresponding key value externally. At this time, all the pieces in the chain are the same, but the state storage in each node will be different, even cover the corresponding table across accounts and change the status of different contract accounts.
EOSForce.io Prevention 8:Restricts the function of freely submitting code, they would be released after all of these have been formalized.
9th Problem: Unstability of mongodb, sql plugin. The mongodb plugin works before. After a while, they want to abandon mongodb and replace it with sqldb plugin. However, this change is deadly for eco-developers.
EOSForce.io Prevention 9: EOSForce.io is recruiting blockchain developers on a large scale. There will be better and more continuous updates to the filter module and database plugins.
Blockchain is not like traditional software development. Security and stability must be the first citizen in Blockchain world, otherwise everything is zero. Each vulnerability could incur a large-scale coin-losing accident, in which case even though the million TPS makes any sense. The security and stability cannot be overemphasized. We should extend performance and expand features on the basis of ensuring safety and stability. We believe in BM, and we also respect the brilliance of EOSIO that BM has brought us. However, it is impossible for any program to have no bugs. There are essential differences between block chain and centralized system. Centralized system's code update and data modification authority are entirely responsible by the centralized organization, and it is free to go online, find BUG, ​​fix BUG, ​​roll back data, offset account, high-speed iteration and other operations. But block chain can't seem to be bug-free, or it would go online without obvious BUG, the data on the chain is all related to the highest value user assets, even if 99% is no problem, there is still 1% risk, as long as there is any point or dimension that can be attacked, the block chain network will certainly fail, do not hold any chance. The EOSIO code has continued to iterate over the past year, especially in April and May. It has reduced the previous complex design, revised all the way to the 1.0 version released on 1st June, and few teams have conducted a complete test on EOSIO. The traditional security attack-defense operation and maintenance test can not be considered as a real test. What really needs to be tested is the voting process on the chain, resource-related issues, custom contracts, etc. This kind of test case needs to be written for several months. We all know that the number of Ethereum's test data and test scripts are several times of the codes themselves.
Today, the market value of EOS once reached 100 billion RMB, and the details are so numerous that it far exceeds the scale of Bitcoin and Ethereum when they went online. If the security of the chain itself cannot be guaranteed, the user's assets will shrink substantially or become zero. Block.one has always stressed officially that it will not be responsible for the security of EOS mainnet. EOSForce.io has done a lot of testing and repair of the significant risks inherent in EOSIO. No one dare to say that it is 100% safe at the moment. Now we sincerely invite all EOS community users, BP candidates, and third-party security teams to verify a secure EOS mainnet. It would go online after confirming that there are no major security risks. Welcome to login EOSForce.io to participate in the beta EOS mainnet. We pay tribute to Oracle chain, EOS Shenzhen and other teams that voted “No go”. There is no compromise on security issues.
submitted by EOSForce to u/EOSForce [link] [comments]

Blockchain tutorial 25: Testnet and faucets How to get testnet bitcoins - YouTube Testnet & Faucets  Mainnet  Bitcoin - Etherum - Blockchain  Hindi How to Setup a Electrum Bitcoin Wallet on Testnet  Free Bitcoin Faucet  PIAIC Bitcoin faucet HACK Script

Yes, in bitcoin an address begins with "1" or "3", in testnet bitcoin an address begins with "m" or "2". In the case of Ethereum both addresses can be used, but you can't transfer ether from Rinkeby to the real network. The same for Eos, you can have a testnet account only in testnet and not in mainnet and viceversa. Then search Google for “bitcoin testnet faucet” and request some tBTC (“testnet Bitcoin”). At the time of writing this article, there are active faucets here, here and here. Let’s also activate the “Coins” tab by going to the “View” menu and choosing “Show Coins”. We will need this tab later, to see the UTXOs. While we’re waiting for our tBTC to arrive, let’s set up ... Benutze die Faucet. If you are a developer you might also be interested in the -regtest option or in running a private bitcoin testnet that's easy to mine, see bitcoin-testnet-box. If you need big sums of testnet coins, reach out to me on IRC, do not email me. Please make only one request. The testnet is an alternative Bitcoin block chain, to be used for testing.Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain. Testnet is an alternative Bitcoin blockchain, to be used for testing.Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain.

[index] [20650] [34076] [37310] [29833] [49289] [28062] [49293] [42756] [15919] [48542]

Blockchain tutorial 25: Testnet and faucets

Bitcoin Testnet Sandbox and Faucet brings all the coins to developers and interesting insights of the Testnet Blockchain. The testnet is an alternative Bitcoin block chain, to be used for testing. How to Setup a Electrum Bitcoin Wallet on Testnet & Free Bitcoin Faucet PIAIC Description: Electrum Wallet Download : https://electrum.org/#download Free T... - what a Bitcoin testnet address looks like - what a faucet is In this video series different topics will be explained which will help you to understand blockchain. This screencast shows how to get the free testnet bitcoins. Reach us through: - Hodl Hodl trading platform: https://hodlhodl.com - TESTNET Hodl Hodl trading ... Tutorial: Crear una faucet de bitcoins ,usando el Script de faucetbox en un servidor local - Duration: ... How to Make Money with Bitcoin Faucets (in less than 30 minutes) - Duration: 29:49 ...

#