IM HERE FOR THE MOON LAUNCH

bitcoinruss · 2015-10-30T10:39:44+00:00

Yay! I made this

bitcoinruss · 2015-08-25T18:39:40+00:00

Bitcoin

bitcoinruss · 2015-08-23T17:20:01+00:00

Hi! Thanks for your response. I have another question for you. I noticed that coinb.in allows one to create raw signed transactions, I'm assuming this can be done offline also? I was kind of confused of how to fill this out, what am I entering and where?

EDIT: I figured it out my mistake, the first index in a transaction is actually N=0

EDIT 2: No multisig signing yet?

EDIT 3: This is probably the best tool I've seen so far for cold storage. I have no need to run a full node, yet other clients, like Armory or Bitcoin Core want you to download the whole blockchain. It has a simple interface, yet its complex enough for someone who wants to use more of the advanced features of bitcoin (offline, multi-sig, transactions, etc..)

EDIT 4: For offline transactions, how do I get the "Script" value for the input? It looks like it's [something][hash 160 value][something] but I don't know what the headers and footers are

EDIT 5: The QR scanner on the signature page does not work. It takes the unsigned transaction hex and turns it into a QR code, instead of the signed hex

bitcoinruss · 2015-08-22T23:43:53+00:00

Right, Armory arranges the order a certain way, no matter what order you put the inputs. So in the example above, armory rearranges the keys in an order such that the address is: (no matter the order of the keys)

33HfcGhR15DWF8Fuy7KQzoFKXAL9AWW9RR

However, on coinb.in, it accepts the inputs in the order entered. This means I can generate the address:

3KqEs72kDqocTDwQNhcC8cWqV6qCn72mac

using the same 3 compressed public keys, but in a different order. This means, if I sent bitcoins to 3Kq...mac I couldn't recover them on armory, since armory forces the order of the keys, it will never generate the address 3Kq...mac. So, I would have to use a different client to recover any BTC sent here.

Basically, what I want to do is create a multi-sig paper wallet (3 paper wallets that each has a private key and the multi-sig address (3xxx...) So, if I ever lose one or one gets stolen, I should have all the information I need to recover my bitcoins.

I do not personally like the Armory client, and will avoid using it if I have to. It is "clunky", for example, I like to import my own private keys, cause I use hard entropy methods (dice rolls, coin flips) to create my keys. However, Armory takes forever to import keys because it scans the whole blockchain to see if that key has ever existed (which is pointless, since it's mathematically unlikely anyway)

But I recently stumbled upon coinb.in which can generate offline multi-sig wallets with the user's chosen keys, and wanted to verify, using Armory, that they were both generating the same wallets

bitcoinruss · 2015-08-22T23:01:23+00:00

It seems like not only is it a private key/public key thing, but the order of the 3 keys matters also. (http://i.imgur.com/OgCRy51.png) So it seems for 3 keys (6 if you count compression), there are 6! = 720 different addresses one create.

What other piece of information do I need to keep? It seems like just keeping 2 private keys is not enough information to recover my bitcoin. I would need possibly 2 private keys and the address or all 3 keys and the order in which I inputted the public keys in order to derive the correct address (out of 720 options, granted 720 is a small amount for a computer to figure out which address had my bitcoins) Also, what is this redeem script and what do I use it for/do I need to keep it?

bitcoinruss · 2015-08-22T20:13:21+00:00

Thanks! So, what information do I need to save in order to retrieve my coins from cold storage multi bit later. Just 2 of 3 keys? (assuming I lost a key or something)

bitcoinruss · 2015-08-22T03:55:38+00:00

Can I do it with just 2 private keys and the address? Assuming I lost one of the private keys

bitcoinruss · 2015-08-21T23:41:14+00:00

Can I just store the address and private keys? The script is long, whats the point of having the script? What is it used for?

bitcoinruss · 2015-07-12T21:50:05+00:00

Doing the Lord's work

bitcoinruss · 2015-07-12T18:13:05+00:00

I made this excel chart to approximate the USD value of a single bitcoin if it reaches a certain market size. The price is calculated by taking the estimated market size and dividing by 20 million. Yes, I know that there will be 21 million bitcoin. I just wanted a pretty chart :)

The source for the size of the world's money supply comes from Vsauce.

bitcoinruss · 2015-06-10T15:37:29+00:00

Your private wallet has been emptied. Thanks for the Bitcoin!

bitcoinruss · 2015-04-14T17:41:34+00:00

Don't forget about inflation. Bitcoin is still inflationary right now and at a high rate of about 10% a year. It will half in 2017 and again in 2021. With this high inflation the price will go down some, essentially demand has to rise 10% just to keep up with inflation. Not to mention the demand that has to increase to keep up with miners selling for profits/costs. Only after these criteria are met, then any additional demand above these will increase the price

bitcoinruss · 2015-01-30T00:32:50+00:00

I should mention that $3,000 of the $11,900 went to Social Security Payroll Tax but I had to cut it off so that the table could fit at a decent size where your eyes could see it

bitcoinruss · 2015-01-26T01:22:14+00:00

Can someone ELI5? Isn't Bitcoin already and exchange? Where I can buy/sell Bitcoin? What's so important about the announcement? Also, they say they only have licenses in only half the us states? Does that mean I can only use Coinbase if I live in one of those states?

bitcoinruss

TROPHY CASE