BitShares Forum
Main => General Discussion => Topic started by: donkeypong on September 10, 2014, 11:48:20 pm
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I sold all my junk coins for AGS and PTS. Since BTSX has come out, I realize that I've done what was once unthinkable: sold out (almost entirely) of Bitcoin. I just have nickels and dimes remaining in my BTC wallets at this point. So I would say that 99% of my crypto 'portfolio' is now in BTSX, a little BitUSD, and other BitShares commitments. Am I wrong to believe in this so strongly? I don't think so. Every dime I keep in Bitcoin is one dime that won't double, triple, or tentuple nearly as fast as it should in BitShares. Yes, there are risks, but as long as you are in crypto, risks are par for the course. I'm not interested in balancing or diversifying anymore; this is not money I need to eat or pay the mortgage. The (very realistically possible) potential rewards here vastly exceed anything else.
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I sold all my junk coins for AGS and PTS. Since BTSX has come out, I realize that I've done what was once unthinkable: sold out (almost entirely) of Bitcoin. I just have nickels and dimes remaining in my BTC wallets at this point. So I would say that 99% of my crypto 'portfolio' is now in BTSX, a little BitUSD, and other BitShares commitments. Am I wrong to believe in this so strongly? I don't think so. Every dime I keep in Bitcoin is one dime that won't double, triple, or tentuple nearly as fast as it should in BitShares. Yes, there are risks, but as long as you are in crypto, risks are par for the course. The (very realistically possible) potential rewards here vastly exceed anything else.
I only got into the crypto game in November, and since around February I've held virtually no bitcoins. I've dabbled in others, notably XCP, NXT (currently my 2nd-biggest crypto, but far behind BTSX), and the occasional small alt that caught my eye.
I haven't found anybody in crypto that understands the level of paradigm-shift that it will take to move crypto assets to the next level. I like Nxt, but the fact that they think coinoUSD is even remotely comparable to bitUSD makes me severely doubt that they have the vision to succeed.
All this to say, I don't think you're crazy. :)
Sent from my SCH-S720C using Tapatalk 2
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I sold all my junk coins for AGS and PTS. Since BTSX has come out, I realize that I've done what was once unthinkable: sold out (almost entirely) of Bitcoin. I just have nickels and dimes remaining in my BTC wallets at this point. So I would say that 99% of my crypto 'portfolio' is now in BTSX, a little BitUSD, and other BitShares commitments. Am I wrong to believe in this so strongly? I don't think so. Every dime I keep in Bitcoin is one dime that won't double, triple, or tentuple nearly as fast as it should in BitShares. Yes, there are risks, but as long as you are in crypto, risks are par for the course. I'm not interested in balancing or diversifying anymore; this is not money I need to eat or pay the mortgage. The (very realistically possible) potential rewards here vastly exceed anything else.
I am also "all in" on the BitShares ecosystem insofar as my crypto investments for the same reason. If BTC starts a rise I will hedge some but other than that, I believe in the success of the technology, team, and community emanating from BitShares. Here's to paying off my college debt (or at least a good chunk of it) on the ride to the moon. 8)
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Today I bought some bitBTC, so I have some BTC of kinds. I am still holding them but that is because the cover orders are not working right now... :)
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I sold all my junk coins for AGS and PTS. Since BTSX has come out, I realize that I've done what was once unthinkable: sold out (almost entirely) of Bitcoin. I just have nickels and dimes remaining in my BTC wallets at this point. So I would say that 99% of my crypto 'portfolio' is now in BTSX, a little BitUSD, and other BitShares commitments. Am I wrong to believe in this so strongly? I don't think so. Every dime I keep in Bitcoin is one dime that won't double, triple, or tentuple nearly as fast as it should in BitShares. Yes, there are risks, but as long as you are in crypto, risks are par for the course. I'm not interested in balancing or diversifying anymore; this is not money I need to eat or pay the mortgage. The (very realistically possible) potential rewards here vastly exceed anything else.
5 %
I would say for your part its a nice move. Mine is I have been diversifying assets . I understand your situation so you made the right move and lets hope that eventually BTSX rises to the bitcoin level (in terms of being popular) at around $15/btsx. :) Pardon me Im just optimistic as everyone in this forum .
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Currently, 2/3rds in BTSX and 1/3 in BTC but I've got that third waiting to be sold into at the moment for the "all in".
Also have holdings donated to the AGS fund so I guess I have some lottoshares too.
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I used to have over half of my small crypto holdings in Bitcoin but I sold it and bought some PTS, BTSX, Lottoshares and two alt coins (Whitecoin and DOGE). I also bought some BitUSD with a good chunk of my BTSX holdings. Those (except for DOGE) are my long term holdings and over half of my crypto holdings are in Bitshares (PTS, BTSX, BitUSD and LTS). I am always going to have some Bitcoin (mainly from Bitcoin faucet earnings) but I will mainly use most of the bitcoin that I have to trade with it or to buy more BTSX or buy more PTS (if I can save enough BTC).
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I sold all my junk coins for AGS and PTS. Since BTSX has come out, I realize that I've done what was once unthinkable: sold out (almost entirely) of Bitcoin. I just have nickels and dimes remaining in my BTC wallets at this point. So I would say that 99% of my crypto 'portfolio' is now in BTSX, a little BitUSD, and other BitShares commitments. Am I wrong to believe in this so strongly? I don't think so. Every dime I keep in Bitcoin is one dime that won't double, triple, or tentuple nearly as fast as it should in BitShares. Yes, there are risks, but as long as you are in crypto, risks are par for the course. I'm not interested in balancing or diversifying anymore; this is not money I need to eat or pay the mortgage. The (very realistically possible) potential rewards here vastly exceed anything else.
I was "all in" in the Bitshares world from the very first articles and interviews I heard from the Larimers back on Let's Talk Bitcoin (I even moved all my PTS to AGS, along with ALL of my BTC). I did buy a lot of bitUSD and some bitBTC mainly to help get the ball rolling. But my main investment by far is btsx. I did recently move enough bitUSD to an exchange to trade for BTC because I need to go on a trip and I could pay for my plane tickets with BTC but not with bitUSD or bitBTC or even btsx.
The hell with diversification. I own no other investments in crypto or anything else (except for a little precious metals in case the internet goes down). I am riding the Bitshares rocket to the stars.
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have sold all my btc to buy btsx :-)
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maybe a better question for NXT forum :D
so, we are all biased.
99% are in BTSX or bitUSD, so i am surely believe this is the right place to be. But i am pretty sure Betamax user feeled the same way.
http://en.wikipedia.org/wiki/Videotape_format_war
not everytime the best product will be adopted. so community spread the word.
Betamax is, in theory, a superior recording format over VHS due to resolution (250 lines vs. 240 lines), slightly superior sound, and a more stable image; Betamax recorders were also of higher quality construction. But these differences were negligible to consumers, and thus did not justify either the extra cost of a Betamax VCR (which was often significantly more expensive than a VHS equivalent) or Betamax's shorter recording time.
BTSX is not Betamax we are the best product right now, but we need more adoption quickly. In Software you should not wait to long. Competitors will get you, at this point in time you should have to many adaptors to sink you. Bitcoin is maybe not the best product right now, but without adoption we will not survive.
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I hold bitBTC. Also have some coins that i believe will soon have a god rise (short term investment). The only other coin i hold for long apart from btsx is Devcoin
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NXT has went up and down from the start. If you were able to ride those swings, I'm sure you would have 10 x by now or more. Actually I'm sure far more than that, but I want to guess conservatively.
So I decide to sell some BTSX because I'm bored and want to gamble. Ok, got decent price. Now waiting for people to sell before price rises. :(
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I hold bitBTC. Also have some coins that i believe will soon have a god rise (short term investment). The only other coin i hold for long apart from btsx is Devcoin
+5%
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Question for the BitShares faithful: Is anyone still holding Bitcoin or other cryptos? Why? And if so, what percentage of your crypto assets are you holding outside of BitShares?
I hold bitBTC. Also have some coins that i believe will soon have a god rise (short term investment). The only other coin i hold for long apart from btsx is Devcoin
+5%
You know what, Devcoin is THE most undervalued coin out there. Its the original devcoin 2.0 and great to see someone else understands it. Its purpose is beyond credability. Right now im holding talks with the devcoin core team trying to convince them to create a DAC in the btsx system. But as im not a dev its hard to explain my idea to these guys )))
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haha ya I think for many of us portfolio diversification went right out the window
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haha ya I think for many of us portfolio diversification went right out the window
Diversification seems like a reasonably good idea... until you find the gold mine. Then you sell all of your belongings and continue digging {is mining a good term in this regard?}.
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haha ya I think for many of us portfolio diversification went right out the window
Diversification seems like a reasonably good idea... until you find the gold mine. Then you sell all of your belongings and continue digging {is mining a good term in this regard?}.
surely no one has cancelled "all eggs in one basket"
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The value of diversification is only relative to how long it takes you to rebound and build your "bankroll".
If you can go busto to robusto in a year or some such, then lack of diversification is not much of an issue.
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I'm down to -5 BTC (minus five) :)
... including BitBTC of course
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never held any bitcoins... By the time i discovered bitcoin it had already skyrocketed so it just didn't feel right to get in at these levels and obviously I lost from any kind of altcoin I was holding...
The situation appears to be recovered since I have discovered I3 and BTSX that's why now I am only holding BTSX and hope...
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btsx has been the best trade I ever made. I put in .6btc at the right time (the cost of .6btc was $400.) I got 144,300ish btsx. I later sold others to be all in at 166,300 btsx. Not a HUGE amount but definitely a change for me!
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I am more of a bag holder. I just into something, I hold it and if it goes where bitcoin is today I will quit my job. If it doesn't I lose my money...hehehe...
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All in.
haha ya I think for many of us portfolio diversification went right out the window
My portfolio IS diversified: BTSX, BitShares PTS, BitShares AGS, LottoShares, DNS, VOTE...
;D
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lol ... +5%
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I did pretty well with BTC as I got in at circa $40.
Since then I mainly dabbled in other alts not investing more than 10% of my BTC stake. I did very well, got in LTC at like $7 and sold at $24-ish I think, XCP at POB stage was pretty good. (The only thing I've probably lost on anything worth noting is NXT as I dismissed it because of poor initial distribution so only got in later then sold some at a loss twice, but the most recent stake was moved to BTSX which has obviously done much better :) )
Sometime before the middle of the year, I finally got completely sold on Bytemaster, the team and their vision for BitShares, particularly BTSX, so now I'm
80% BitShares
18% BTC
2% Other
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I got out of Bitcoin many months ago.
I only use them to get into and out of BTSX, when needed, holding them for as short a time as possible.
I did take a significant flyer on Ether genesis, hoping to possibly duplicate the significant profit we got from getting in on the BTSX genesis block, but I'm not holding my breath, and expect to move all that back to BTSX, as soon as I can, for as long as ether is pushing towards mining/POW.
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same here ... it's a shame I have an EMPTY metallic trezor lying around :-)
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92% BTSX
5% PTS
2% OTHER c.
1% BTC
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same here ... it's a shame I have an EMPTY metallic trezor lying around :-)
LOL same on my side ... got my 3 trezors and they're empty now.
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I got out of Bitcoin many months ago.
I only use them to get into and out of BTSX, when needed, holding them for as short a time as possible.
I did take a significant flyer on Ether genesis, hoping to possibly duplicate the significant profit we got from getting in on the BTSX genesis block, but I'm not holding my breath, and expect to move all that back to BTSX, as soon as I can, for as long as ether is pushing towards mining/POW.
I agree POW is dead medium term+, short term BTC has been better than most alts though and more stable and besides BitShares there's nothing that interests me much.
I have zero ether I didn't like their model. Also it seemed like a locked up investment in POW for the next 4 months+, so not appealing to me.
From the threads here Vitalik seems like a really smart mature humble guy, he's certainly investable though.
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so .. what will happen to POS altcoins ... peercoin/peershare ... mintpal .. blackcoin?! ... medium term??
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I see it became a forbes list talk now eh? :D :D :D
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so .. what will happen to POS altcoins ... peercoin/peershare ... mintpal .. blackcoin?! ... medium term??
Not much, maybe some gains because they have such a low start, I haven't been following them though.
Only NXT seems like a credible threat but I don't even have a hedge in them at the moment because I have so much confidence in BitAssets + BitYield going forward.
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BTC, MSAFE, ETH, PTS, XAP & BitsharesX.
They all have a future. Why not own as many as possible? Choosing between coins is like picking between investing in Amazon or Altavista when the internet started. You're going to make money no matter what. Of course I have more money in ones that I believe have more potential but diversification is always healthy.
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I'm torn on this subject. I am holding like 1/4 of my crypto in bitcoin and alts. Lately I've been thinking about cashing out to supplement my btsx, or maybe to invest a little extra in music.
I was also thinking about buying some PTS, and waiting until the next big snapshot announcement and selling off before the snapshot while the price is high.
but it's hard to leave all these alts, because I know from experience that a rising bitcoin tides carries all boats. All the main cryptos are going to bubble up the next big bitcoin snowball, and it's anybodies guess which will be the most profitable. Remember 25 dollar LTC?
It's also hard to leave bitcoin. I know it has a future, there's billions invested in it. There's an ETF in the works. The price is inevitably still going to rise.
so divided.
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I have been diversified to every shitcoin that was coming out and obviously lost...I have then decided that I should just stick with the only coin that has some economic fundamentals... Today I just sold my last NXTs which I bought when it was at 60-70 mil market cap (I am pretty sure NXT will double by tomorrow...)
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I'm torn on this subject. I am holding like 1/4 of my crypto in bitcoin and alts. Lately I've been thinking about cashing out to supplement my btsx, or maybe to invest a little extra in music.
I was also thinking about buying some PTS, and waiting until the next big snapshot announcement and selling off before the snapshot while the price is high.
but it's hard to leave all these alts, because I know from experience that a rising bitcoin tides carries all boats. All the main cryptos are going to bubble up the next big bitcoin snowball, and it's anybodies guess which will be the most profitable. Remember 25 dollar LTC?
It's also hard to leave bitcoin. I know it has a future, there's billions invested in it. There's an ETF in the works. The price is inevitably still going to rise.
so divided.
Stay divided (diversified). It's the smart play.
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I have been diversified to every shitcoin that was coming out and obviously lost...I have then decided that I should just stick with the only coin that has some economic fundamentals... Today I just sold my last NXTs which I bought when it was at 60-70 mil market cap (I am pretty sure NXT will double by tomorrow...)
As you said in a earlier post, you're a bag holder so I guess it will explode as soon as you get out of there haha! No worries though, I was in BTC last fall when it was at 100$ per BTC and got out (why, who knows?!) and it exploded a few weeks later to more than a 1000$. Then I got screwed by MtGox and lost almost my whole investment. So I'm quite familiar with the feeling of holding an empty bag...
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Nobody is going to input a password into a client they downloaded and then put all their savings into that Bank.
There needs to be a lot of focus on private security if we want people to use BitShares X as a bank.
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we could force the user to print out a backup sheet paper which states the private code of their account key in QR code, HEX format and WIF format ... possibly BIP38 encrypted ..
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Was late to the game, so there never was much point to hold BTC.
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I'm torn on this subject. I am holding like 1/4 of my crypto in bitcoin and alts. Lately I've been thinking about cashing out to supplement my btsx, or maybe to invest a little extra in music.
I was also thinking about buying some PTS, and waiting until the next big snapshot announcement and selling off before the snapshot while the price is high.
but it's hard to leave all these alts, because I know from experience that a rising bitcoin tides carries all boats. All the main cryptos are going to bubble up the next big bitcoin snowball, and it's anybodies guess which will be the most profitable. Remember 25 dollar LTC?
It's also hard to leave bitcoin. I know it has a future, there's billions invested in it. There's an ETF in the works. The price is inevitably still going to rise.
so divided.
Stay divided (diversified). It's the smart play.
Yes, this. BTSX is still a high-risk investment.
It is true that many wealthy investors became that way by betting big and winning big.
But you will find that the wealthiest investors always, always hedge.
There will be at least one more big BTC pump; Wall Street and private capital won't pass up the opportunity. OpenBazaar may also have a substantial impact on market cap.
So perhaps it is wise to hold a percentage of the crypto portfolio in BTC through BTSX's infancy.
If the stars align, BTC will add a zero or two just in time for BTSX to find its legs.
Once BTSX is more stable/resilient/liquid profits from BTC can be secured in BTSX or other bitAssets.
Should BTSX fail for some unforeseen reason at least the investor has some crypto-holdings to fall back on.
My $.02 bitUSD.
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Nobody is going to input a password into a client they downloaded and then put all their savings into that Bank. There needs to be a lot of focus on private security if we want people to use BitShares X as a bank.
we could force the user to print out a backup sheet paper which states the private code of their account key in QR code, HEX format and WIF format ... possibly BIP38 encrypted ..
From my naive viewpoint, no technical background, here are some of my worries:
1. I forget/lose my password.
2. I lose my wallet/PC crashes.
3. The download was malicious.
4. The download was intercepted.
5. Keylogger records my password.
6. What I am invested in crashes.
By an exchange with 2FA risk of 3, 4, 5 are eliminated. Anti-virus etc. reduces risk of 4 and 5. Using multiple exchanges, and multiple wallets, multiple devices, with multiple passwords, and multiple backups, 1 and 2 are mitigated. By investing in multiple assets (including bitAssets) risk of 6 is mitigated.
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Yes, this. BTSX is still a high-risk investment.
It is true that many wealthy investors became that way by betting big and winning big.
But you will find that the wealthiest investors always, always hedge.
There will be at least one more big BTC pump; Wall Street and private capital won't pass up the opportunity. OpenBazaar may also have a substantial impact on market cap.
So perhaps it is wise to hold a percentage of the crypto portfolio in BTC through BTSX's infancy.
If the stars align, BTC will add a zero or two just in time for BTSX to find its legs.
Once BTSX is more stable/resilient/liquid profits from BTC can be secured in BTSX or other bitAssets.
Should BTSX fail for some unforeseen reason at least the investor has some crypto-holdings to fall back on.
My $.02 bitUSD.
I'd much rather just stay all in BTSX. It's practically a given that as BTC price increases other popular alts will follow. And even if the alts stay the same price (in satoshis), you can still cash out into the same number of BTC that are now worth more. Go big or go home; BTSX all the way for me :D
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1. I forget/lose my password.
2. I lose my wallet/PC crashes.
3. The download was malicious.
4. The download was intercepted.
5. Keylogger records my password.
So we need a dedicated device to handle your private key which can be backuped with a seed .. pretty much a bitcoinTreZor for BitShares :-)
We are still some months away from that (really nice) solution :-(
But it should be able to develop this more quickly when compared to bitcoin .. bigger parts of the source code are already available
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1. I forget/lose my password.
2. I lose my wallet/PC crashes.
3. The download was malicious.
4. The download was intercepted.
5. Keylogger records my password.
So we need a dedicated device to handle your private key which can be backuped with a seed .. pretty much a bitcoinTreZor for BitShares :-)
We are still some months away from that (really nice) solution :-(
But it should be able to develop this more quickly when compared to bitcoin .. bigger parts of the source code are already available
Something similar to bitaddress for creating paper wallets (any bitAsset... imagine having a mix of BTSX/bitUSD/bitGLD in the safe) would be a great short-term solution.
I have many of the same concerns as CLains and in fact have had password trouble already. Very, very stressful.
As BTSX appreciates in value these concerns will become more and more pressing.
Dev team definitely is going to need a few clones.
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1. I forget/lose my password.
2. I lose my wallet/PC crashes.
3. The download was malicious.
4. The download was intercepted.
5. Keylogger records my password.
So we need a dedicated device to handle your private key which can be backuped with a seed .. pretty much a bitcoinTreZor for BitShares :-)
We are still some months away from that (really nice) solution :-(
But it should be able to develop this more quickly when compared to bitcoin .. bigger parts of the source code are already available
Something similar to bitaddress for creating paper wallets (any bitAsset... imagine having a mix of BTSX/bitUSD/bitGLD in the safe) would be a great short-term solution.
I have many of the same concerns as CLains and in fact have had password trouble already. Very, very stressful.
As BTSX appreciates in value these concerns will become more and more pressing.
Dev team definitely is going to need a few clones.
Best solution: buy a dedicated laptop running Linux and only use it to run the BitShares X app. If this can be done with a live boot even better.
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I am gonna give it a try and first figure out the structure of the private key .. updating brainwallet.org for the use with btsx should not be tooo difficult ..
//edit: I gave it a try .. but I seem incapable of coding this :-(
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Hmm I'm surprised so many here "divested" so completely from Bitcoin. Probably a good move or at least has been short term. If I had moved everything to AGS I'd be sitting on a ton of money worth of BTSX that's for sure, worth much more than my current BTC holdings.
I split off some of my BTC for investment in PTS and AGS though and any new money I put into crypto since beginning of the year has gone straight into other than BTC investments.
I'll probably continue to hold a small handful of BTC coins in cold storage.
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1. I forget/lose my password.
2. I lose my wallet/PC crashes.
3. The download was malicious.
4. The download was intercepted.
5. Keylogger records my password.
So we need a dedicated device to handle your private key which can be backuped with a seed .. pretty much a bitcoinTreZor for BitShares :-)
We are still some months away from that (really nice) solution :-(
But it should be able to develop this more quickly when compared to bitcoin .. bigger parts of the source code are already available
Multisig security with offline backups (https://bitsharestalk.org/index.php?topic=6028.0) should really help with a lot of these issues.
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1. I forget/lose my password.
2. I lose my wallet/PC crashes.
3. The download was malicious.
4. The download was intercepted.
5. Keylogger records my password.
So we need a dedicated device to handle your private key which can be backuped with a seed .. pretty much a bitcoinTreZor for BitShares :-)
We are still some months away from that (really nice) solution :-(
But it should be able to develop this more quickly when compared to bitcoin .. bigger parts of the source code are already available
Something similar to bitaddress for creating paper wallets (any bitAsset... imagine having a mix of BTSX/bitUSD/bitGLD in the safe) would be a great short-term solution.
I have many of the same concerns as CLains and in fact have had password trouble already. Very, very stressful.
As BTSX appreciates in value these concerns will become more and more pressing.
Dev team definitely is going to need a few clones.
Best solution: buy a dedicated laptop running Linux and only use it to run the BitShares X app. If this can be done with a live boot even better.
I've dedicated a machine for this purpose. But the one client/one account/one machine is the scary part.
So if you want to spread risk you need two or machines with multiple clients/passwords. Done this as well; clunky but it works.
Really needed is a simple, trusted and reliable way to get bitAssets into cold storage.
Would love to take 80-90% of my holdings offline for next two or three years.
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Would love to take 80-90% of my holdings offline for next two or three years.
not recommended due to:
- missed yield (1 year max)
- inactivity fee of 5% every year after 365 days
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Would love to take 80-90% of my holdings offline for next two or three years.
not recommended due to:
- missed yield (1 year max)
- inactivity fee of 5% every year after 365 days
Yes, valid points. Assets in cold storage would have to be rotated periodically.
A watch-only set up would not really work because a transaction needs to be made.
This is going to need to be addressed before serious money starts to move in.
A permanent hot wallet is not going to cut it for any substantial amount of wealth.
Hate to see it go third party/centralized/fee based. ie. SecureCo charging fees slightly less than inactivity.
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Something similar to bitaddress for creating paper wallets (any bitAsset... imagine having a mix of BTSX/bitUSD/bitGLD in the safe) would be a great short-term solution.
I have many of the same concerns as CLains and in fact have had password trouble already. Very, very stressful.
As BTSX appreciates in value these concerns will become more and more pressing.
Dev team definitely is going to need a few clones.
Yes, valid points. Assets in cold storage would have to be rotated periodically.
A watch-only set up would not really work because a transaction needs to be made.
This is going to need to be addressed before serious money starts to move in.
A permanent hot wallet is not going to cut it for any substantial amount of wealth.
Hate to see it go third party/centralized/fee based. ie. SecureCo charging fees slightly less than inactivity.
completely agree.
+5%
would it be possible to implement some kind of system of cold storage where people check in that they're still active, and pay the transaction fee from a different account?
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I was the victim of a rather large btc heist. Once bitten twice shy.
I would love to throw some serious coin at btsx, but until cold storage or Bitshares answer to armory comes along I just cant do it.
Too stressful holding the coins online.
If you have not been a victim of a crypto hack, then you just dont realize how easy and painful they are.
Judging by the other posts in this thread, paper wallets while not the sexiest thing in the world could be a real short/easy step to another doubling of market cap.
I would love to push the dev team in that direction. Anyone else?
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I was the victim of a rather large btc heist. Once bitten twice shy.
I would love to throw some serious coin at btsx, but until cold storage or Bitshares answer to armory comes along I just cant do it.
Too stressful holding the coins online.
If you have not been a victim of a crypto hack, then you just dont realize how easy and painful they are.
Judging by the other posts in this thread, paper wallets while not the sexiest thing in the world could be a real short/easy step to another doubling of market cap.
I would love to push the dev team in that direction. Anyone else?
Yes, me. Cold storage is a very important feature.
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I was the victim of a rather large btc heist. Once bitten twice shy.
I would love to throw some serious coin at btsx, but until cold storage or Bitshares answer to armory comes along I just cant do it.
Too stressful holding the coins online.
If you have not been a victim of a crypto hack, then you just dont realize how easy and painful they are.
Judging by the other posts in this thread, paper wallets while not the sexiest thing in the world could be a real short/easy step to another doubling of market cap.
I would love to push the dev team in that direction. Anyone else?
You and I share a lot of concerns. We need two factor authentication or something better than "enter your password" as well. I wouldn't store large amounts of BTSX on any machine which can easily be keylogged.
Basically with Bitshares X right now you're trusting that your computer is more secure than the centralized exchanges like Bter. In reality your computer is probably a lot less secure than the average centralized exchange and the only thing Bitshares X has going for it right now is that hackers don't know about it yet to target it.
The best option I think would be to take Trezor and build Bitshares specific firmware for it. If you would like to fund a project you should fund the development of a Bitshares specific Trezor firmware update. That is all that would be needed to secure the Bitshares wallet in my humble opinion.
I was the victim of a rather large btc heist. Once bitten twice shy.
I would love to throw some serious coin at btsx, but until cold storage or Bitshares answer to armory comes along I just cant do it.
Too stressful holding the coins online.
If you have not been a victim of a crypto hack, then you just dont realize how easy and painful they are.
Judging by the other posts in this thread, paper wallets while not the sexiest thing in the world could be a real short/easy step to another doubling of market cap.
I would love to push the dev team in that direction. Anyone else?
Yes, me. Cold storage is a very important feature.
Cold storage is nice but not the answer. It's better to have a custom Trezor or hardware wallet. This way you can make transactions, vote for delegates, but not store your private keys on your computer.
The insecurity comes from the fact that your private keys are on your computer and whenever you enter your password it can be jacked. We need more developer time invested in hardware Bitshares wallets because if we are going to keep a bank vault then that is the only way it can work securely, the average PC isn't anywhere near secure enough.
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cold storgae is great but defeats the point of yield ofcourse..... then again if i take my dosh and burry in under the ground on an isalnd i wont get yield too.... in any case i think that 2FA is a great idea. Is there a way to put 2FA into the programm (ofcourse for those who want it)/ Id go further an implement an email request after 2FA like on btc-e right now
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cold storgae is great but defeats the point of yield ofcourse..... then again if i take my dosh and burry in under the ground on an isalnd i wont get yield too.... in any case i think that 2FA is a great idea. Is there a way to put 2FA into the programm (ofcourse for those who want it)/ Id go further an implement an email request after 2FA like on btc-e right now
It's not gonna work with 2FA .. because the system needs to check the token against their "database" which forces the database to be available for the wallet and thus if you computer is hacked you will also loose the database with the 2fac tokens ..
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cold storgae is great but defeats the point of yield ofcourse..... then again if i take my dosh and burry in under the ground on an isalnd i wont get yield too.... in any case i think that 2FA is a great idea. Is there a way to put 2FA into the programm (ofcourse for those who want it)/ Id go further an implement an email request after 2FA like on btc-e right now
It's not gonna work with 2FA .. because the system needs to check the token against their "database" which forces the database to be available for the wallet and thus if you computer is hacked you will also loose the database with the 2fac tokens ..
Is there a system similar to 2FA based on blockchain tech? Or at least email notices would be great (again, if an owner wishes)
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Google Authenticator is a 2FA option but if you lose your phone you'll never be able to log in again so it's not a very practical solution.
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Google Authenticator is a 2FA option but if you lose your phone you'll never be able to log in again so it's not a very practical solution.
Using 2FA without backup 2FA security key it's a bad idea, I use WinAuth for this, and can always restore 2FA on new phone, or pass 2FA using code from WinAuth.
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Google Authenticator is a 2FA option but if you lose your phone you'll never be able to log in again so it's not a very practical solution.
Using 2FA without backup 2FA security key it's a bad idea, I use WinAuth for this, and can always restore 2FA on new phone, or pass 2FA using code from WinAuth.
can you expand please?
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cold storgae is great but defeats the point of yield ofcourse..... then again if i take my dosh and burry in under the ground on an isalnd i wont get yield too.... in any case i think that 2FA is a great idea. Is there a way to put 2FA into the programm (ofcourse for those who want it)/ Id go further an implement an email request after 2FA like on btc-e right now
It's not gonna work with 2FA .. because the system needs to check the token against their "database" which forces the database to be available for the wallet and thus if you computer is hacked you will also loose the database with the 2fac tokens ..
Is there a system similar to 2FA based on blockchain tech? Or at least email notices would be great (again, if an owner wishes)
Sort of, the answer (https://bitsharestalk.org/index.php?topic=8867.msg115153#msg115153) is multisig (https://bitsharestalk.org/index.php?topic=6028.0).
It's better to have a custom Trezor or hardware wallet. This way you can make transactions, vote for delegates, but not store your private keys on your computer.
A hardware wallet is going to be... tricky. If you want to use the convenience of account names rather than opaque public keys, I think you would need the hardware wallet to validate the entire blockchain (or at least block headers the same way a lightweight client would). Then there is the whole issue of whether you want your hardware wallet to sign market orders as well or if you keep a different PC-only child account to manage the funds used for trading. Finally, hardware wallets don't protect you from double-spends if your client is compromised (unless you basically make the hardware wallet into a full mobile computer that is locked down to only act like a BitShares client). I really question the value of a hardware wallet. I think multisig and a Linux Live CD with embedded client for cold storage accounts is enough security.
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cold storgae is great but defeats the point of yield ofcourse..... then again if i take my dosh and burry in under the ground on an isalnd i wont get yield too.... in any case i think that 2FA is a great idea. Is there a way to put 2FA into the programm (ofcourse for those who want it)/ Id go further an implement an email request after 2FA like on btc-e right now
It's not gonna work with 2FA .. because the system needs to check the token against their "database" which forces the database to be available for the wallet and thus if you computer is hacked you will also loose the database with the 2fac tokens ..
Is there a system similar to 2FA based on blockchain tech? Or at least email notices would be great (again, if an owner wishes)
This is what you're looking for: https://github.com/bitid/bitid
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Google Authenticator is a 2FA option but if you lose your phone you'll never be able to log in again so it's not a very practical solution.
Using 2FA without backup 2FA security key it's a bad idea, I use WinAuth for this, and can always restore 2FA on new phone, or pass 2FA using code from WinAuth.
can you expand please?
When you enable 2FA, authentication service gives you QR code of private key, this key you can scan by phone and use it, but better to scan this key into WinAuth (https://code.google.com/p/winauth) or another program which can keep them securely and then scan from this program into phone(s).
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A hardware wallet is going to be... tricky. If you want to use the convenience of account names rather than opaque public keys, I think you would need the hardware wallet to validate the entire blockchain (or at least block headers the same way a lightweight client would).
True .. haven't thought about that... TITAN somehow makes it very difficult to generate sub-addresses from the account key .. for TITAN addresses you need the hardware device to publish and search for all available/derived addresses.. hmm ..
That's some kind of drawback that comes with the anonymity of TITAN ..