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Offline bytemaster

KEEP CALM and Read this Thread
« on: August 28, 2014, 02:04:54 PM »

BitShares X is undergoing rapid bug fixes and releases and many people have been reporting a variety of issues and are necessarily concerned about losing their balances, etc.   In this thread I hope to ease some of these concerns by letting you know what protections are in place:

1)  Every time you upgrade to a new version, the wallet data is backed up.
2)  Every time you create an account, the wallet data is backed up.
3)  All keys that you wallet ever generates for use with the blockchain are derived in a deterministic manner from the root wallet key.  We can regenerate all of these keys from an old backup if necessary and then scan the blockchain.

As long as you don't lose your private keys your funds are safe and recoverable even if the wallet doesn't report all of your transactions.

So my recommendation is that if you cannot stand the stress and don't want to be a beta tester that you wait for issues to be resolved because they will eventually get resolved.    Those that want to help in the process we appreciate it because we only have so many environments we can test in.

In other words, you funds are safe because your private keys are safe and eventually all bugs will be worked out.
« Last Edit: August 28, 2014, 02:12:39 PM by bytemaster »
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xeroc

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Re: KEEP CALM and Read this Thread
« Reply #1 on: August 28, 2014, 02:10:43 PM »
Let me quickly highlight the important words:
In other words, you funds are safe because your private keys are safe and eventually all bugs will be worked out.
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Offline Fox

Re: KEEP CALM and Read this Thread
« Reply #2 on: August 28, 2014, 02:19:14 PM »
Let me quickly highlight the important words:
In other words, you funds are safe because your private keys are safe and eventually all bugs will be worked out.
+5%

Keep your head down and tow the line toward innovation.  We all make this work together.
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Offline bytemaster

Re: KEEP CALM and Read this Thread
« Reply #3 on: August 28, 2014, 02:22:41 PM »
Also, while individual users are experiencing problems the core of the network is still solid:

Code: [Select]
"blockchain_average_delegate_participation": "96.19 %",
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline liondani

Re: KEEP CALM and Read this Thread
« Reply #4 on: August 28, 2014, 02:30:44 PM »
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Online fluxer555

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Re: KEEP CALM and Read this Thread
« Reply #5 on: August 28, 2014, 02:50:24 PM »
*BitUSD
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Offline CoinHoarder

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Offline liondani

Re: KEEP CALM and Read this Thread
« Reply #7 on: August 28, 2014, 02:56:49 PM »
 +5% +5% +5%

 :D
  https://bitshares.OPENLEDGER.info/?r=GREECE  | You are in Control | BUY | SELL | SHORT | SWAP | LOAN | TRADE |  

Offline 麥可貓

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Re: KEEP CALM and Read this Thread
« Reply #8 on: August 28, 2014, 04:24:25 PM »
In this thread I hope to ease some of these concerns by letting you know what protections are in place:
1)  Every time you upgrade to a new version, the wallet data is backed up.
2)  Every time you create an account, the wallet data is backed up.

do you mean it is automatically backed up, or users have to do it by themself?
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Offline bytemaster

Re: KEEP CALM and Read this Thread
« Reply #9 on: August 28, 2014, 04:24:45 PM »
It is done automatically
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

Re: KEEP CALM and Read this Thread
« Reply #10 on: August 28, 2014, 04:29:18 PM »
In this thread I hope to ease some of these concerns by letting you know what protections are in place:
1)  Every time you upgrade to a new version, the wallet data is backed up.
2)  Every time you create an account, the wallet data is backed up.

do you mean it is automatically backed up, or users have to do it by themself?


The only thing the users should do is go to find the backups in the wallets directory and make more copies of them. They are encrypted with as much strength as their passphrase so they could store them on USB sticks, email them to themselves, whatever steps can be taken so those .json files can be retrieved at some point.


For example those backups won't help if the drive crashes and takes those files with it.

Offline blahblah7up

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Re: KEEP CALM and Read this Thread
« Reply #11 on: August 28, 2014, 04:59:06 PM »
I've always wondered...(sorry if this is stupid)...

If I am a new user and register a wallet for the first time and export the .json file, and then I go and buy some BTSX and invest in bitUSD and send some to friends and then somehow something goes wrong, is that original .json file useful to me?  The one that I made when my wallet was still empty?  If I load that original .json file into a new wallet will it somehow detect the subsequent activity I engaged in or do I need to make frequent backups sort of like snapshots of state changes?

Offline Riverhead

Re: KEEP CALM and Read this Thread
« Reply #12 on: August 28, 2014, 05:04:02 PM »
I've always wondered...(sorry if this is stupid)...

If I am a new user and register a wallet for the first time and export the .json file, and then I go and buy some BTSX and invest in bitUSD and send some to friends and then somehow something goes wrong, is that original .json file useful to me?  The one that I made when my wallet was still empty?  If I load that original .json file into a new wallet will it somehow detect the subsequent activity I engaged in or do I need to make frequent backups sort of like snapshots of state changes?

Not stupid at all. Here are some things to help you think about this.

1) Everything important (except for your private keys) live on the blockchain and everyone has a copy.

2) When you create your wallet and an account within that wallet a few private keys are created (wallet master key, account private key, etc.). These are what go into the .json file backup which is itself encrypted with your passphrase (this is very important to remember).

3) As you continue to do transactions TITAN will keep creating new keys for you based off the keys in #2 and your transactions get added to the blockchain.  Everyone has them.

When you have to, for whatever reason, need to restore a wallet (drive crash, computer burned in a fire, new computer, whatever) you create a new wallet and then restore from the .json file. Since all the private keys are deterministic from what is stored in that file onward it'll reconstruct itself from the blockchain. Therefore the only time you need to refresh your backup is when you create a new account in your wallet as those private keys will need to be added to the .json flie. The backup is created automatically but you need to find it in the BitSharesX\wallets\default\backups directory to make copies of it.

« Last Edit: August 28, 2014, 05:06:03 PM by Riverhead »

Offline robrigo

Re: KEEP CALM and Read this Thread
« Reply #13 on: August 28, 2014, 05:07:00 PM »
I've always wondered...(sorry if this is stupid)...

If I am a new user and register a wallet for the first time and export the .json file, and then I go and buy some BTSX and invest in bitUSD and send some to friends and then somehow something goes wrong, is that original .json file useful to me?  The one that I made when my wallet was still empty?  If I load that original .json file into a new wallet will it somehow detect the subsequent activity I engaged in or do I need to make frequent backups sort of like snapshots of state changes?

Yes, that wallet will still be useful regardless of subsequent transactions. It stores your private wallet / account keys which can be used to associate activity from that wallet on the blockchain.

Offline MktDirector

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Re: KEEP CALM and Read this Thread
« Reply #14 on: August 28, 2014, 08:32:33 PM »

 

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