Import wallet.dat into a new Bitcoin-Qt client - Bitcoin ...

How to move Bitcoin off of old computer?

I am getting ready to update my computer and I have to move some crypto wallets off of the computer before I do that as a safety. I havent looked at this stuff in years.
  1. I am using the Bitcoin-qt wallet on my pc and I have backed up the wallet.dat files to a few locations and burned them to a CD. Is that enough?
  2. I would really like to move the bitcoins and litecoins to a paper wallet. Can I make a paper wallet out of my bitcoin-qt or can I get the keys out somehow?
  3. If I send the bitcoins to coinbase is the IRS going to see that and tax me? Also by sending them to coinbase will that automatically give me the bitkash or all these spinoffs from bitcoin?
  4. Also a dumb question (been 6 years since I looked at this stuff) When I open the bitcoin-qt wallet where is my bitcoin address. The address if I wanted someone to send me bitcoin?
Thanks for the help.
submitted by Divine__Hammer to BitcoinBeginners [link] [comments]

Make your own stakebox. Ultimate beginners guide how to compile any wallet on AARCH64 (Raspbery pi and other SBC)

I contemplated to wrote this for a long time, so it's finally time.
As you know a lot of altcoins uses PoS (Proof-of-stake) way of "mining" coins. Which basically means, that you hold coins on your unlocked wallet and you are receiving stakes as a reward. This requires very little power and it can bring you a lot of rewards, at just 10W from the wall.
So first I am using latest Raspbian on RPI4B 4GB in this example.Setting up Raspbian is not part of this process since it's very well documented. I recommend to change user from pi to something else due to security concerns and you can also do other stuff just search "security Raspberry PI" and you find a lot of articles, but this is not the focus of this guide.
I know there are a lot of guides on the internet, but I am using like 5 sources, so it's compiled what other people wrote and some of my research.
I am using AnyDesk insted of SSH or VNC server, because it works it's ligthweit and it just works.
So after you see the gui of Raspbian, just launch terminal (CTRL + ALT + T) and do basic thing:
sudo apt-get update && sudo apt-get upgrade
Than press Y and let it run, after is finished, we need to prepare so dependency packages. Since most of the wallets using Berkeley DB 4.8 we need to obtain it.
So in terminal wrote:
cd cd Downloads wget http://download.oracle.com/berkeley-db/db-4.8.30.NC.tar.gz tar -xzvf db-4.8.30.NC.tar.gz cd db-4.8.30.NC/build_unix ../dist/configure --enable-cxx make sudo make install 
So wait unti it's finished and than you can delete files in Downloads folder in gui or use:
sudo rm -r [folder] 
So next thing we need to install some libraries.
sudo apt-get install git build-essential libtool autotools-dev autoconf pkg-config libssl-dev libcrypto++-dev libevent-dev libminiupnpc-dev libgmp-dev libboost-all-dev devscripts libdb++-dev libsodium-dev 
And pres y and let it run. After that another set of libraries:
sudo apt-get install libqt5gui5 libqt5core5a libqt5dbus5 qttools5-dev qttools5-dev-tools libprotobuf-dev protobuf-compiler libcrypto++- dev libminiupnpc-dev qt5-default 
And then again pres y and let it run. Some wallets need older version of libssl1.0-dev, so for for safe compiling we install that as well:
sudo apt-get install libssl1.0-dev 
Pres y and let it run. Warning don't use sudo-apt get autoremove, since it would wipe this package, since it's old.
Next thing we are going to obtain Bitcoin PPA filest, which can be done like this.
cd /etc/apt/sources.list.d/ sudo nano bitcoin.list 
Paste this in there:
deb-src http://ppa.launchpad.net/bitcoin/bitcoin/ubuntu artful main 
And CTRL+X and than y, then do this:
sudo apt-key adv --keyserver hkp://keyserver.ubuntu.com:80 --recv C70EF1F0305A1ADB9986DBD8D46F45428842CE5E sudo apt-get update 
So now we are ready for compiling. So we are going create folders. CD yourself where this folder should be situated, if you for example have plugged in some external drive. Then:
mkdir Crypto cd Crypto 
And then we have to choose wallet which you want to compile. I am choosing Streamies (STRMS) as an example, since it's pretty good coin for staking. So:
mkdir Streamies cd Streamies 
Then go to the github page and click on the green button on the left and click copy to clipboard, which gives you git link.
git clone https://github.com/Streamies/Streamies.git 
Watch the output folder which it creates, it's stated in the first two lines and copy then by highliting the text and CTRL+SHIFT+C copy it to your clipboard.
cd Streamies (this is that git created folder) ./autogen.sh ./configure CPPFLAGS="-I/uslocal/BerkeleyDB.4.8/include -O2" LDFLAGS="-L/uslocal/BerkeleyDB.4.8/lib" sudo make (this could take hours) sudo make install 
And you are done, files is going to be in folder /uslocal/bin (DO NOT delete git created folder, because you are going to need it for faster compiling, when wallet get's and update.)
cd /uslocal/bin 
Now you can list files by:
ls 
And then you can copy/move them where ever you want by using:
sudo mv * [destination full path] 
Let it run and go back to folder where you move those files.
sudo chmod +x streamies-qt (since we want to run wallet) 
In most cases compiled files are going to in format of "shared library" so we need to create script to run it. Open up a text editor from gui or through nano. And paste this to that file:
#!/bin/bash ./streamies-qt 
And save it as a sh file, for example run.sh. Then we need to make it runnable so:
sudo chmod +x run.sh 
Now to run it, it's just:
./run.sh 
And here we are glorious GUI wallet appears and you are done, you can paste blockchain, wallet.dat from other sources, so this migration is pretty easy and you, if you have it on for exaple flash disk.
So this is basic how to compile QT wallets on AARCH64. I am running 7 wallets, 2 of those are Masternodes and RPI 4B 4GB would handle way more, I am at best on half of my RAM.
Some wallets need more package, but it's not much of and issue, since compiling stops and you just copy paste nape which is missing put it in the google and add "apt-get" after the name of package and you are going to see, what is the name of the packages so it can be retreived from package assinstant aka apt-get. So basically:
sudo apt-get install [package name] 
Then press y and again wrote:
sudo make 
This process is going to continue where it was left off, so nothing is going to run from beginning.
Updating wallets is basically exactly same, just repeat steps from "git clone" and after that proceed as it was written above.
So I hope this helps some of you, to use this at home and not on some VPS, if you are anxious as me, to host my wallets on remote server.
submitted by M1chlCZ to CryptoCurrency [link] [comments]

Groestlcoin 6th Anniversary Release

Introduction

Dear Groestlers, it goes without saying that 2020 has been a difficult time for millions of people worldwide. The groestlcoin team would like to take this opportunity to wish everyone our best to everyone coping with the direct and indirect effects of COVID-19. Let it bring out the best in us all and show that collectively, we can conquer anything.
The centralised banks and our national governments are facing unprecedented times with interest rates worldwide dropping to record lows in places. Rest assured that this can only strengthen the fundamentals of all decentralised cryptocurrencies and the vision that was seeded with Satoshi's Bitcoin whitepaper over 10 years ago. Despite everything that has been thrown at us this year, the show must go on and the team will still progress and advance to continue the momentum that we have developed over the past 6 years.
In addition to this, we'd like to remind you all that this is Groestlcoin's 6th Birthday release! In terms of price there have been some crazy highs and lows over the years (with highs of around $2.60 and lows of $0.000077!), but in terms of value– Groestlcoin just keeps getting more valuable! In these uncertain times, one thing remains clear – Groestlcoin will keep going and keep innovating regardless. On with what has been worked on and completed over the past few months.

UPDATED - Groestlcoin Core 2.18.2

This is a major release of Groestlcoin Core with many protocol level improvements and code optimizations, featuring the technical equivalent of Bitcoin v0.18.2 but with Groestlcoin-specific patches. On a general level, most of what is new is a new 'Groestlcoin-wallet' tool which is now distributed alongside Groestlcoin Core's other executables.
NOTE: The 'Account' API has been removed from this version which was typically used in some tip bots. Please ensure you check the release notes from 2.17.2 for details on replacing this functionality.

How to Upgrade?

Windows
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer.
OSX
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), run the dmg and drag Groestlcoin Core to Applications.
Ubuntu
http://groestlcoin.org/forum/index.php?topic=441.0

Other Linux

http://groestlcoin.org/forum/index.php?topic=97.0

Download

Download the Windows Installer (64 bit) here
Download the Windows Installer (32 bit) here
Download the Windows binaries (64 bit) here
Download the Windows binaries (32 bit) here
Download the OSX Installer here
Download the OSX binaries here
Download the Linux binaries (64 bit) here
Download the Linux binaries (32 bit) here
Download the ARM Linux binaries (64 bit) here
Download the ARM Linux binaries (32 bit) here

Source

ALL NEW - Groestlcoin Moonshine iOS/Android Wallet

Built with React Native, Moonshine utilizes Electrum-GRS's JSON-RPC methods to interact with the Groestlcoin network.
GRS Moonshine's intended use is as a hot wallet. Meaning, your keys are only as safe as the device you install this wallet on. As with any hot wallet, please ensure that you keep only a small, responsible amount of Groestlcoin on it at any given time.

Features

Download

iOS
Android

Source

ALL NEW! – HODL GRS Android Wallet

HODL GRS connects directly to the Groestlcoin network using SPV mode and doesn't rely on servers that can be hacked or disabled.
HODL GRS utilizes AES hardware encryption, app sandboxing, and the latest security features to protect users from malware, browser security holes, and even physical theft. Private keys are stored only in the secure enclave of the user's phone, inaccessible to anyone other than the user.
Simplicity and ease-of-use is the core design principle of HODL GRS. A simple recovery phrase (which we call a Backup Recovery Key) is all that is needed to restore the user's wallet if they ever lose or replace their device. HODL GRS is deterministic, which means the user's balance and transaction history can be recovered just from the backup recovery key.

Features

Download

Main Release (Main Net)
Testnet Release

Source

ALL NEW! – GroestlcoinSeed Savior

Groestlcoin Seed Savior is a tool for recovering BIP39 seed phrases.
This tool is meant to help users with recovering a slightly incorrect Groestlcoin mnemonic phrase (AKA backup or seed). You can enter an existing BIP39 mnemonic and get derived addresses in various formats.
To find out if one of the suggested addresses is the right one, you can click on the suggested address to check the address' transaction history on a block explorer.

Features

Live Version (Not Recommended)

https://www.groestlcoin.org/recovery/

Download

https://github.com/Groestlcoin/mnemonic-recovery/archive/master.zip

Source

ALL NEW! – Vanity Search Vanity Address Generator

NOTE: NVidia GPU or any CPU only. AMD graphics cards will not work with this address generator.
VanitySearch is a command-line Segwit-capable vanity Groestlcoin address generator. Add unique flair when you tell people to send Groestlcoin. Alternatively, VanitySearch can be used to generate random addresses offline.
If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then VanitySearch is the right choice for you to create a more personalized address.
VanitySearch is a groestlcoin address prefix finder. If you want to generate safe private keys, use the -s option to enter your passphrase which will be used for generating a base key as for BIP38 standard (VanitySearch.exe -s "My PassPhrase" FXPref). You can also use VanitySearch.exe -ps "My PassPhrase" which will add a crypto secure seed to your passphrase.
VanitySearch may not compute a good grid size for your GPU, so try different values using -g option in order to get the best performances. If you want to use GPUs and CPUs together, you may have best performances by keeping one CPU core for handling GPU(s)/CPU exchanges (use -t option to set the number of CPU threads).

Features

Usage

https://github.com/Groestlcoin/VanitySearch#usage

Download

Source

ALL NEW! – Groestlcoin EasyVanity 2020

Groestlcoin EasyVanity 2020 is a windows app built from the ground-up and makes it easier than ever before to create your very own bespoke bech32 address(es) when whilst not connected to the internet.
If you're tired of the random, cryptic bech32 addresses generated by regular Groestlcoin clients, then Groestlcoin EasyVanity2020 is the right choice for you to create a more personalised bech32 address. This 2020 version uses the new VanitySearch to generate not only legacy addresses (F prefix) but also Bech32 addresses (grs1 prefix).

Features

Download

Source

Remastered! – Groestlcoin WPF Desktop Wallet (v2.19.0.18)

Groestlcoin WPF is an alternative full node client with optional lightweight 'thin-client' mode based on WPF. Windows Presentation Foundation (WPF) is one of Microsoft's latest approaches to a GUI framework, used with the .NET framework. Its main advantages over the original Groestlcoin client include support for exporting blockchain.dat and including a lite wallet mode.
This wallet was previously deprecated but has been brought back to life with modern standards.

Features

Remastered Improvements

Download

Source

ALL NEW! – BIP39 Key Tool

Groestlcoin BIP39 Key Tool is a GUI interface for generating Groestlcoin public and private keys. It is a standalone tool which can be used offline.

Features

Download

Windows
Linux :
 pip3 install -r requirements.txt python3 bip39\_gui.py 

Source

ALL NEW! – Electrum Personal Server

Groestlcoin Electrum Personal Server aims to make using Electrum Groestlcoin wallet more secure and more private. It makes it easy to connect your Electrum-GRS wallet to your own full node.
It is an implementation of the Electrum-grs server protocol which fulfils the specific need of using the Electrum-grs wallet backed by a full node, but without the heavyweight server backend, for a single user. It allows the user to benefit from all Groestlcoin Core's resource-saving features like pruning, blocks only and disabled txindex. All Electrum-GRS's feature-richness like hardware wallet integration, multi-signature wallets, offline signing, seed recovery phrases, coin control and so on can still be used, but connected only to the user's own full node.
Full node wallets are important in Groestlcoin because they are a big part of what makes the system be trust-less. No longer do people have to trust a financial institution like a bank or PayPal, they can run software on their own computers. If Groestlcoin is digital gold, then a full node wallet is your own personal goldsmith who checks for you that received payments are genuine.
Full node wallets are also important for privacy. Using Electrum-GRS under default configuration requires it to send (hashes of) all your Groestlcoin addresses to some server. That server can then easily spy on your transactions. Full node wallets like Groestlcoin Electrum Personal Server would download the entire blockchain and scan it for the user's own addresses, and therefore don't reveal to anyone else which Groestlcoin addresses they are interested in.
Groestlcoin Electrum Personal Server can also broadcast transactions through Tor which improves privacy by resisting traffic analysis for broadcasted transactions which can link the IP address of the user to the transaction. If enabled this would happen transparently whenever the user simply clicks "Send" on a transaction in Electrum-grs wallet.
Note: Currently Groestlcoin Electrum Personal Server can only accept one connection at a time.

Features

Download

Windows
Linux / OSX (Instructions)

Source

UPDATED – Android Wallet 7.38.1 - Main Net + Test Net

The app allows you to send and receive Groestlcoin on your device using QR codes and URI links.
When using this app, please back up your wallet and email them to yourself! This will save your wallet in a password protected file. Then your coins can be retrieved even if you lose your phone.

Changes

Download

Main Net
Main Net (FDroid)
Test Net

Source

UPDATED – Groestlcoin Sentinel 3.5.06 (Android)

Groestlcoin Sentinel is a great solution for anyone who wants the convenience and utility of a hot wallet for receiving payments directly into their cold storage (or hardware wallets).
Sentinel accepts XPUB's, YPUB'S, ZPUB's and individual Groestlcoin address. Once added you will be able to view balances, view transactions, and (in the case of XPUB's, YPUB's and ZPUB's) deterministically generate addresses for that wallet.
Groestlcoin Sentinel is a fork of Groestlcoin Samourai Wallet with all spending and transaction building code removed.

Changes

Download

Source

UPDATED – P2Pool Test Net

Changes

Download

Pre-Hosted Testnet P2Pool is available via http://testp2pool.groestlcoin.org:21330/static/

Source

submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

Years of Searching: Found Bitcoin Wallet. Data File Missing. Possible Conspiracy?

I sold a lot of runescape gold for bitcoin back in 2010/2011 as a young teenager. I also did a bit of mining. I can't remember the exact amount, but I believe I had around 500 bitcoin in 2011. At the time, it was only worth a few hundred dollars, which was still a lot for me back then. It was my pride and joy. At some point in 2011, my harddrive corrupted and my computer was inaccessible. I paid a hundred or so dollars at best buy to get it fixed. They were unable to do so. I searched the internet for answers to no avail. My birthday came around and I got a new laptop. I kinda just called the old laptop a complete loss. In 2012 I moved off for college. I honesly wasn't even thinking about bitcoin that entire year. That was until my second semester in college, the tail end of 2012. Bitcoin was soaring. Word was getting around that it was at $10/btc. At the time, this was actually huge. A lot of people started cashing out here, believe it or not. It was at this time that I remembered the old laptop. The bitcoin I had was now worth around $5k. I still had no idea how to recover it, but I knew I needed to get that laptop when I went back home. I go home for the holidays and ask about it. My parents had cleaned up house and said they threw it away as they thought it was broken. I was heartbroken. As a broke college student, that $5k was gonna really come in handy. I basically signed that bitcoin off completely after that. It was confirmed trashed.
Fast forward a few years. Christmas 2017. Bitcoin is soaring out of control. Now at $15k/btc. Everyone is talking about it. It became a topic at the dinner table. I told everyone about how I once had 500 BTC but it was lost on an old, corrupted, laptop that was thrown away. My dad is fantasizing about how rich we'd be now. He was very frustrated at the idea of literally throwing it away. It was at this point my sister's husband says that my dad gave him a laptop amongst other old electronics back then and that he thinks he still has it. We literally ended the dinner right then and there as I demanded we drive to his house. We search all over to no avail. He thinks he might have actually thrown it away as well... The loss is felt all over again.
Fast forward. March 2020. Things really haven't worked out for me in life. I'm broke. I'm out of a job at the moment due to corona. Idk how I'm ever gonna get ahead. I have random nights where I beat myself up for not being smarter as a teen. Surely there was a simple solution to a corrupt harddrive. Why did I smoke so much damn weed? Why did my dad have to give it away? Why did my sister's husband have to throw it away? Whyyyyyyyy. My sister calls me. She says she found my laptop. Holy. Shit. I drive over and power it up at her house. It turns on flawlessly... Everything is there... All my files... No corrupt harddrive anymore... What the fuck... I open bitcoin. Error. I search through all the files. The wallet is missing. "Wallet.dat" is gone. "Wallet.cpp" and "wallet.h" are there, but not the data file. What the fuck is going on. There's no way my sister did anything, she is clueless with computers. Her husband is a web developer though... Maybe he fixed it and stole the wallet. Maybe that's why they've had a huge upgrade in their life in the past year... I ask my sister if her husband did anything and she says not that she knows of. Why would she tell me about it then? Surely she would know if her husband acquire millions in bitcoin? Was this her way of telling me without actually telling me? She knows I've fallen on tough times. Does she feel guilty? I confront her husband and he has no idea what I'm talking about. I feel like I'm acting crazy now. Was I hacked in the past and had my wallet stolen? Did the best buy person steal it? I seriously think it was her husband. As far as I know, he still works the same job, but they've bought a huge house, multiple cars, and lived a lavish lifestyle all in the past year.
I'm losing my mind here. My sister acts clueless. I feel like a crazy horrible person to even accuse them of doing that, but here I am... seriously questioning them now. I just don't know what to do from here. Do I call the police? I don't even know if I technically owned that bitcoin. I'm just so confused by everything right now. If her husband found the laptop in 2017 and cashed out, he would have made at least $7 million. That's enough to make ANYONE turn slimy. Hell, part of me doesn't even blame him. I just want to know what the fuck happened. It is driving me absolutely insane.
Does anyone have any advice here? And if, by chance, said husband reads this, if you stole the btc just give me some sign to ease my mind. Anything. I just want to know. If you didn't steal it, I'm sincerely sorry, but I hope you understand why I would accuse you.
submitted by 123848912384 to Bitcoin [link] [comments]

An extensive guide for cashing out bitcoin and cryptocurrencies into private banks

Hey guys.
Merry Xmas !
I am coming back to you with a follow up post, as I have helped many people cash out this year and I have streamlined the process. After my original post, I received many requests to be more specific and provide more details. I thought that after the amazing rally we have been attending over the last few months, and the volatility of the last few days, it would be interesting to revisit more extensively.
The attitude of banks around crypto is changing slowly, but it is still a tough stance. For the first partial cash out I operated around a year ago for a client, it took me months to find a bank. They wouldn’t want to even consider the case and we had to knock at each and every door. Despite all my contacts it was very difficult back in the days. This has changed now, and banks have started to open their doors, but there is a process, a set of best practices and codes one has to follow.
I often get requests from crypto guys who are very privacy-oriented, and it takes me months to have them understand that I am bound by Swiss law on banking secrecy, and I am their ally in this onboarding process. It’s funny how I have to convince people that banks are legit, while on the other side, banks ask me to show that crypto millionaires are legit. I have a solid background in both banking and in crypto so I manage to make the bridge, but yeah sometimes it is tough to reconcile the two worlds. I am a crypto enthusiast myself and I can say that after years of work in the banking industry I have grown disillusioned towards banks as well, like many of you. Still an account in a Private bank is convenient and powerful. So let’s get started.
There are two different aspects to your onboarding in a Swiss Private bank, compliance-wise.
*The origin of your crypto wealth
*Your background (residence, citizenship and probity)
These two aspects must be documented in-depth.
How to document your crypto wealth. Each new crypto millionaire has a different story. I may detail a few fun stories later in this post, but at the end of the day, most of crypto rich I have met can be categorized within the following profiles: the miner, the early adopter, the trader, the corporate entity, the black market, the libertarian/OTC buyer. The real question is how you prove your wealth is legit.
1. Context around the original amount/investment Generally speaking, your first crypto purchase may not be documented. But the context around this acquisition can be. I have had many cases where the original amount was bought through Mtgox, and no proof of purchase could be provided, nor could be documented any Mtgox claim. That’s perfectly fine. At some point Mtgox amounted 70% of the bitcoin transactions globally, and people who bought there and managed to withdraw and keep hold of their bitcoins do not have any Mtgox claim. This is absolutely fine. However, if you can show me the record of a wire from your bank to Tisbane (Mtgox's parent company) it's a great way to start.
Otherwise, what I am trying to document here is the following: I need context. If you made your first purchase by saving from summer jobs, show me a payroll. Even if it was USD 2k. If you acquired your first bitcoins from mining, show me the bills of your mining equipment from 2012 or if it was through a pool mine, give me your slushpool account ref for instance. If you were given bitcoin against a service you charged, show me an invoice.
2. Tracking your wealth until today and making sense of it. What I have been doing over the last few months was basically educating compliance officers. Thanks God, the blockchain is a global digital ledger! I have been telling my auditors and compliance officers they have the best tool at their disposal to lead a proper investigation. Whether you like it or not, your wealth can be tracked, from address to address. You may have thought all along this was a bad feature, but I am telling you, if you want to cash out, in the context of Private Banking onboarding, tracking your wealth through the block explorer is a boon. We can see the inflows, outflows. We can see the age behind an address. An early adopter who bought 1000 BTC in 2010, and let his bitcoin behind one address and held thus far is legit, whether or not he has a proof of purchase to show. That’s just common sense. My job is to explain that to the banks in a language they understand.
Let’s have a look at a few examples and how to document the few profiles I mentioned earlier.
The trader. I love traders. These are easy cases. I have a ton of respect for them. Being a trader myself in investment banks for a decade earlier in my career has taught me that controlling one’s emotions and having the discipline to impose oneself some proper risk management system is really really hard. Further, being able to avoid the exchange bankruptcy and hacks throughout crypto history is outstanding. It shows real survival instinct, or just plain blissed ignorance. In any cases traders at exchange are easy cases to corroborate since their whole track record is potentially available. Some traders I have met have automated their trading and have shown me more than 500k trades done over the span of 4 years. Obviously in this kind of scenario I don’t show everything to the bank to avoid information overload, and prefer to do some snacking here and there. My strategy is to show the early trades, the most profitable ones, explain the trading strategy and (partially expose) the situation as of now with id pages of the exchanges and current balance. Many traders have become insensitive to the risk of parking their crypto at exchange as they want to be able to trade or to grasp an occasion any minute, so they generally do not secure a substantial portion on the blockchain which tends to make me very nervous.
The early adopter. Provided that he has not mixed his coin, the early adopter or “hodler” is not a difficult case either. Who cares how you bought your first 10k btc if you bought them below 3$ ? Even if you do not have a purchase proof, I would generally manage to find ways. We just have to corroborate the original 30’000 USD investment in this case. I mainly focus on three things here:
*proof of early adoption I have managed to educate some banks on a few evidences specifically related to crypto markets. For instance with me, an old bitcointalk account can serve as a proof of early adoption. Even an old reddit post from a few years ago where you say how much you despise this Ripple premined scam can prove to be a treasure readily available to show you were early.
*story telling Compliance officers like to know when, why and how. They are human being looking for simple answers to simple questions and they don’t want like to be played fool. Telling the truth, even without a proof can do wonders, and even though bluffing might still work because banks don’t fully understand bitcoin yet, it is a risky strategy that is less and less likely to pay off as they are getting more sophisticated by the day.
*micro transaction from an old address you control This is the killer feature. Send a $20 worth transaction from an old address to my company wallet and to one of my partner bank’s wallet and you are all set ! This is gold and considered a very solid piece of evidence. You can also do a microtransaction to your own wallet, but banks generally prefer transfer to their own wallet. Patience with them please. they are still learning.
*signature message Why do a micro transaction when you can sign a message and avoid potentially tainting your coins ?
*ICO millionaire Some clients made their wealth participating in ETH crowdsale or IOTA ICO. They were very easy to deal with obviously and the account opening was very smooth since we could evidence the GENESIS TxHash flow.
The miner Not so easy to proof the wealth is legit in that case. Most early miners never took screenshot of the blocks on bitcoin core, nor did they note down the block number of each block they mined. Until the the Slashdot article from August 2010 anyone could mine on his laptop, let his computer run overnight and wake up to a freshly minted block containing 50 bitcoins back in the days. Not many people were structured enough to store and secure these coins, avoid malwares while syncing the blockchain continuously, let alone document the mined blocks in the process. What was 50 BTC worth really for the early miners ? dust of dollars, games and magic cards… Even miners post 2010 are generally difficult to deal with in terms of compliance onboarding. Many pool mining are long dead. Deepbit is down for instance and the founders are MIA. So my strategy to proof mining activity is as follow:
*Focusing on IT background whenever possible. An IT background does help a lot to bring some substance to the fact you had the technical ability to operate a mining rig.
*Showing mining equipment receipts. If you mined on your own you must have bought the hardware to do so. For instance mining equipment receipts from butterfly lab from 2012-2013 could help document your case. Similarly, high electricity bill from your household on a consistent basis back in the day could help. I have already unlocked a tricky case in the past with such documents when the bank was doubtful.
*Wallet.dat files with block mining transactions from 2011 thereafter This obviously is a fantastic piece of evidence for both you and me if you have an old wallet and if you control an address that received original mined blocks, (even if the wallet is now empty). I will make sure compliance officers understand what it means, and as for the early adopter, you can prove your control over these wallet through a microtransaction. With these kind of addresses, I can show on the block explorer the mined block rewards hitting at regular time interval, and I can even spot when difficulty level increased or when halvening process happened.
*Poolmining account. Here again I have educated my partner bank to understand that a slush account opened in 2013 or an OnionTip presence was enough to corroborate mining activity. The block explorer then helps me to do the bridge with your current wallet.
*Describing your set up and putting it in context In the history of mining we had CPU, GPU, FPG and ASICs mining. I will describe your technical set up and explain why and how your set up was competitive at that time.
The corporate entity Remember 2012 when we were all convinced bitcoin would take over the world, and soon everyone would pay his coffee in bitcoin? How naïve we were to think transaction fees would remain low forever. I don’t blame bitcoin cash supporters; I once shared this dream as well. Remember when we thought global adoption was right around the corner and some brick and mortar would soon accept bitcoin transaction as a common mean of payment? Well, some shop actually did accept payment and held. I had a few cases as such of shops holders, who made it to the multi million mark holding and had invoices or receipts to proof the transactions. If you are organized enough to keep a record for these trades and are willing to cooperate for the documentation, you are making your life easy. The digital advertising business is also a big market for the bitcoin industry, and affiliates partner compensated in btc are common. It is good to show an invoice, it is better to show a contract. If you do not have a contract (which is common since all advertising deals are about ticking a check box on the website to accept terms and conditions), there are ways around that. If you are in that case, pm me.
The black market Sorry guys, I can’t do much for you officially. Not that I am judging you. I am a libertarian myself. It’s just already very difficult to onboard legit btc adopters, so the black market is a market I cannot afford to consider. My company is regulated so KYC and compliance are key for me if I want to stay in business. Behind each case I push forward I am risking the credibility and reputation I have built over the years. So I am sorry guys I am not risking it to make an extra buck. Your best hope is that crypto will eventually take over the world and you won’t need to cash out anyway. Or go find a Lithuanian bank that is light on compliance and cooperative.
The OTC buyer and the libertarian. Generally a very difficult case. If you bought your stack during your journey in Japan 5 years ago to a guy you never met again; or if you accumulated on https://localbitcoins.com/ and kept no record or lost your account, it is going to be difficult. Not impossible but difficult. We will try to build a case with everything else we have, and I may be able to onboard you. However I am risking a lot here so I need to be 100% confident you are legit, before I defend you. Come & see me in Geneva, and we will talk. I will run forensic services like elliptic, chainalysis, or scorechain on an extract of your wallet. If this scan does not raise too many red flags, then maybe we can work together ! If you mixed your coins all along your crypto history, and shredded your seeds because you were paranoid, or if you made your wealth mining professionally monero over the last 3 years but never opened an account at an exchange. ¯_(ツ)_/¯ I am not a magician and don’t get me wrong, I love monero, it’s not the point.
Cashing out ICOs Private companies or foundations who have ran an ICO generally have a very hard time opening a bank account. The few banks that accept such projects would generally look at 4 criteria:
*Seriousness of the project Extensive study of the whitepaper to limit the reputation risk
*AML of the onboarding process ICOs 1.0 have no chance basically if a background check of the investors has not been conducted
*Structure of the moral entity List of signatories, certificate of incumbency, work contract, premises...
*Fiscal conformity Did the company informed the authorities and seek a fiscal ruling.
For the record, I am not into the tax avoidance business, so people come to me with a set up and I see if I can make it work within the legal framework imposed to me.
First, stop thinking Switzerland is a “offshore heaven” Swiss banks have made deals with many governments for the exchange of fiscal information. If you are a French citizen, resident in France and want to open an account in a Private Bank in Switzerland to cash out your bitcoins, you will get slaughtered (>60%). There are ways around that, and I could refer you to good tax specialists for fiscal optimization, but I cannot organize it myself. It would be illegal for me. Swiss private banks makes it easy for you to keep a good your relation with your retail bank and continue paying your bills without headaches. They are integrated to SEPA, provide ebanking and credit cards.
For information, these are the kind of set up some of my clients came up with. It’s all legal; obviously I do not onboard clients that are not tax compliant. Further disclaimer: I did not contribute myself to these set up. Do not ask me to organize it for you. I won’t.
EU tricks
Swiss lump sum taxation Foreign nationals resident in Switzerland can be taxed on a lump-sum basis if they are not gainfully employed in our country. Under the lump-sum tax regime, foreign nationals taking residence in Switzerland may choose to pay an expense-based tax instead of ordinary income and wealth tax. Attractive cantons for the lump sum taxation are Zug, Vaud, Valais, Grisons, Lucerne and Berne. To make it short, you will be paying somewhere between 200 and 400k a year and all expenses will be deductible.
Switzerland has adopted a very friendly attitude towards crypto currency in general. There is a whole crypto valley in Zug now. 30% of ICOs are operated in Switzerland. The reason is that Switzerland has thrived for centuries on banking secrecy, and today with FATCA and exchange of fiscal info with EU, banking secrecy is dead. Regulators in Switzerland have understood that digital ledger technologies were a way to roll over this competitive advantage for the generations to come. Switzerland does not tax capital gains on crypto profits. The Finma has a very pragmatic approach. They have issued guidance- updated guidelines here. They let the business get organized and operate their analysis on a case per case basis. Only after getting a deep understanding of the market will they issue a global fintech license in 2019. This approach is much more realistic than legislations which try to regulate everything beforehand.
Italy new tax exemption. It’s a brand new fiscal exemption. Go to Aoste, get residency and you could be taxed a 100k/year for 10years. Yes, really.
Portugal What’s crazy in Europe is the lack of fiscal harmonization. Even if no one in Brussels dares admit it, every other country is doing fiscal dumping. Portugal is such a country and has proved very friendly fiscally speaking. I personally have a hard time trusting Europe. I have witnessed what happened in Greece over the last few years. Some of our ultra high net worth clients got stuck with capital controls. I mean no way you got out of crypto to have your funds confiscated at the next financial crisis! Anyway. FYI
Malta Generally speaking, if you get a residence somewhere you have to live there for a certain period of time. Being stuck in Italy is no big deal with Schengen Agreement, but in Malta it is a different story. In Malta, the ordinary residence scheme is more attractive than the HNWI residence scheme. Being an individual, you can hold a residence permit under this scheme and pay zero income tax in Malta in a completely legal way.
Monaco Not suitable for French citizens, but for other Ultra High Net worth individual, Monaco is worth considering. You need an account at a local bank as a proof of fortune, and this account generally has to be seeded with at least EUR500k. You also need a proof of residence. I do mean UHNI because if you don’t cash out minimum 30m it’s not interesting. Everything is expensive in Monaco. Real Estate is EUR 50k per square meter. A breakfast at Monte Carlo Bay hotel is 70 EUR. Monaco is sunny but sometimes it feels like a golden jail. Do you really want that for your kids?
Dubaï
  1. Set up a company in Dubaï, get your resident card.
  2. Spend one day every 6 month there
  3. ???
  4. Be tax free
US tricks Some Private banks in Geneva do have the license to manage the assets of US persons and U.S citizens. However, do not think it is a way to avoid paying taxes in the US. Opening an account at an authorized Swiss Private banks is literally the same tax-wise as opening an account at Fidelity or at Bank of America in the US. The only difference is that you will avoid all the horror stories. Horror stories are all real by the way. In Switzerland, if you build a decent case and answer all the questions and corroborate your case in depth, you will manage to convince compliance officers beforehand. When the money eventually hits your account, it is actually available and not frozen.
The IRS and FATCA require to file FBAR if an offshore account is open. However FBAR is a reporting requirement and does not have taxes related to holding an account outside the US. The taxes would be the same if the account was in the US. However penalties for non compliance with FBAR are very large. The tax liability management is actually performed through the management of the assets ( for exemple by maximizing long term capital gains and minimizing short term gains).
The case for Porto Rico. Full disclaimer here. I am not encouraging this. Have not collaborated on such tax avoidance schemes. if you are interested I strongly encourage you to seek a tax advisor and get a legal opinion. I am not responsible for anything written below. I am not going to say much because I am so afraid of uncle Sam that I prefer to humbly pass the hot potato to pwc From here all it takes is a good advisor and some creativity to be tax free on your crypto wealth if you are a US person apparently. Please, please please don’t ask me more. And read the disclaimer again.
Trust tricks Generally speaking I do not accept fringe fiscal situation because it puts me in a difficult situation to the banks I work with, and it is already difficult enough to defend a legit crypto case. Trust might be a way to optimize your fiscal situation. Belize. Bahamas. Seychelles. Panama, You name it. At the end of the day, what matters for Swiss Banks are the beneficial owner and the settlor. Get a legal opinion, get it done, and when you eventually knock at a private bank’s door, don’t say it was for fiscal avoidance you stupid ! You will get the door smashed upon you. Be smarter. It will work. My advice is just to have it done by a great tax specialist lawyer, even if it costs you some money, as the entity itself needs to be structured in a professional way. Remember that with trust you are dispossessing yourself off your wealth. Not something to be taken lightly.
“Anonymous” cash out. Right. I think I am not going into this topic, neither expose the ways to get it done. Pm me for details. I already feel a bit uncomfortable with all the info I have provided. I am just going to mention many people fear that crypto exchange might become reporting entities soon, and rightly so. This might happen anyday. You have been warned. FYI, this only works for non-US and large cash out.
The difference between traders an investors. Danmark, Holland and Germany all make a huge difference if you are a passive investor or if you are a trader. ICO is considered investing for instance and is not taxed, while trading might be considered as income and charged aggressively. I would try my best to protect you and put a focus on your investor profile whenever possible, so you don't have to pay 52% tax if you do not have to :D
Full cash out or partial cash out? People who have been sitting on crypto for long have grown an emotional and irrational link with their coins. They come to me and say, look, I have 50m in crypto but I would like to cash out 500k only. So first let me tell you that as a wealth manager my advice to you is to take some off the table. Doing a partial cash out is absolutely fine. The market is bullish. We are witnessing a redistribution of wealth at a global scale. Bitcoin is the real #occupywallstreet, and every one will discuss crypto at Xmas eve which will make the market even more supportive beginning 2018, especially with all hedge funds entering the scene. If you want to stay exposed to bitcoin and altcoins, and believe these techs will change the world, it’s just natural you want to keep some coins. In the meantime, if you have lived off pizzas over the last years, and have the means to now buy yourself an nice house and have an account at a private bank, then f***ing do it mate ! Buy physical gold with this account, buy real estate, have some cash at hands. Even though US dollar is worthless to your eyes, it’s good and convenient to have some. Also remember your wife deserves it ! And if you have no wife yet and you are socially awkward like the rest of us, then maybe cashing out partially will help your situation ;)
What the Private Banks expect. Joke aside, it is important you understand something. If you come around in Zurich to open a bank account and partially cash out, just don’t expect Private Banks will make an exception for you if you are small. You can’t ask them to facilitate your cash out, buy a 1m apartment with the proceeds of the sale, and not leave anything on your current account. It won’t work. Sadly, under 5m you are considered small in private banking. The bank is ok to let you open an account, provided that your kyc and compliance file are validated, but they will also want you to become a client and leave some money there to invest. This might me despicable, but I am just explaining you their rules. If you want to cash out, you should sell enough to be comfortable and have some left. Also expect the account opening to last at least 3-4 week if everything goes well. You can't just open an account overnight.
The cash out logistics. Cashing out 1m USD a day in bitcoin or more is not so hard.
Let me just tell you this: Even if you get a Tier 4 account with Kraken and ask Alejandro there to raise your limit over $100k per day, Even if you have a bitfinex account and you are willing to expose your wealth there, Even if you have managed to pass all the crazy due diligence at Bitstamp,
The amount should be fractioned to avoid risking your full wealth on exchange and getting slaughtered on the price by trading big quantities. Cashing out involves significant risks at all time. There is a security risk of compromising your keys, a counterparty risk, a fat finger risk. Let it be done by professionals. It is worth every single penny.
Most importantly, there is a major difference between trading on an exchange and trading OTC. Even though it’s not publicly disclosed some exchange like Kraken do have OTC desks. Trading on an exchange for a large amount will weight on the prices. Bitcoin is a thin market. In my opinion over 30% of the coins are lost in translation forever. Selling $10m on an exchange in a day can weight on the prices more than you’d think. And if you trade on a exchange, everything is shown on record, and you might wipe out the prices because on exchanges like bitstamp or kraken ultimately your counterparties are retail investors and the market depth is not huge. It is a bit better on Bitfinex. It is way better to trade OTC. Accessing the institutional OTC market is not easy, and that is also the reason why you should ask a regulated financial intermediary if we are talking about huge amounts.
Last point, always chose EUR as opposed to USD. EU correspondent banks won’t generally block institutional amounts. However we had the cases of USD funds frozen or delayed by weeks.
Most well-known OTC desks are Cumberlandmining (ask for Lucas), Genesis (ask for Martin), Bitcoin Suisse AG (ask for Niklas), circletrade, B2C2, or Altcoinomy (ask for Olivier)
Very very large whales can also set up escrow accounts for massive block trades. This world, where blocks over 30k BTC are exchanged between 2 parties would deserve a reddit thread of its own. Crazyness all around.
Your options: DIY or going through a regulated financial intermediary.
Execution trading is a job in itself. You have to be patient, be careful not to wipe out the order book and place limit orders, monitor the market intraday for spikes or opportunities. At big levels, for a large cash out that may take weeks, these kind of details will save you hundred thousands of dollars. I understand crypto holders are suspicious and may prefer to do it by themselves, but there are regulated entities who now offer the services. Besides, being a crypto millionaire is not a guarantee you will get institutional daily withdrawal limits at exchange. You might, but it will take you another round of KYC with them, and surprisingly this round might be even more aggressive that the ones at Private banks since exchange have gone under intense scrutiny by regulators lately.
The fees for cashing out through a regulated financial intermediary to help you with your cash out should be around 1-2% flat on the nominal, not more. And for this price you should get the full package: execution/monitoring of the trades AND onboarding in a private bank. If you are asked more, you are being abused.
Of course, you also have the option to do it yourself. It is a way more tedious and risky process. Compliance with the exchange, compliance with the private bank, trading BTC/fiat, monitoring the transfers…You will save some money but it will take you some time and stress. Further, if you approach a private bank directly, it will trigger a series of red flag to the banks. As I said in my previous post, they call a direct approach a “walk-in”. They will be more suspicious than if you were introduced by someone and won’t hesitate to show you high fees and load your portfolio with in-house products that earn more money to the banks than to you. Remember also most banks still do not understand crypto so you will have a lot of explanations to provide and you will have to start form scratch with them!
The paradox of crypto millionaires Most of my clients who made their wealth through crypto all took massive amount of risks to end up where they are. However, most of them want their bank account to be managed with a low volatility fixed income capital preservation risk profile. This is a paradox I have a hard time to explain and I think it is mainly due to the fact that most are distrustful towards banks and financial markets in general. Many clients who have sold their crypto also have a cash-out blues in the first few months. This is a classic situation. The emotions involved in hodling for so long, the relief that everything has eventually gone well, the life-changing dynamics, the difficulties to find a new motivation in life…All these elements may trigger a post cash-out depression. It is another paradox of the crypto rich who has every card in his hand to be happy, but often feel a bit sad and lonely. Sometimes, even though it’s not my job, I had to do some psychological support. A lot of clients have also become my friends, because we have the same age and went through the same “ordeal”. First world problem I know… Remember, cashing out is not the end. It’s actually the beginning. Don’t look back, don’t regret. Cash out partially, because it does not make sense to cash out in full, regret it and want back in. relax.
The race to cash out crypto billionaire and the concept of late exiter. The Winklevoss brothers are obviously the first of a series. There will be crypto billionaires. Many of them. At a certain level you can have a whole family office working for you to manage your assets and take care of your needs . However, let me tell you it’s is not because you made it so big that you should think you are a genius and know everything better than anyone. You should hire professionals to help you. Managing assets require some education around the investment vehicles and risk management strategies. Sorry guys but with all the respect I have for wallstreebet, AMD and YOLO stock picking, some discipline is necessary. The investors who have made money through crypto are generally early adopters. However I have started to see another profile popping up. They are not early adopters. They are late exiters. It is another way but just as efficient. Last week I met the first crypto millionaire I know who first bough bitcoin over 1000$. 55k invested at the beginning of this year. Late adopter & late exiter is a route that can lead to the million.
Last remarks. I know banks, bankers, and FIAT currencies are so last century. I know some of you despise them and would like to have them burn to the ground. With compliance officers taking over the business, I would like to start the fire myself sometimes. I hope this extensive guide has helped some of you. I am around if you need more details. I love my job despite all my frustration towards the banking industry because it makes me meet interesting people on a daily basis. I am a crypto enthusiast myself, and I do think this tech is here to stay and will change the world. Banks will have to adapt big time. Things have started to change already; they understand the threat is real. I can feel the generational gap in Geneva, with all these old bankers who don’t get what’s going on. They glaze at the bitcoin chart on CNBC in disbelief and they start to get it. This bitcoin thing is not a joke. Deep inside, as an early adopter who also intends to be a late exiter, as a libertarian myself, it makes me smile with satisfaction.
Cheers. @swisspb on telegram
submitted by Swissprivatebanker to Bitcoin [link] [comments]

Colin gives a rundown on Nexus layered architecture

This is an excerpt from a much larger impromptu Q&A on Nexus Telegram, and provides an excellent overview of Nexus architecture. (edited for clarity)
---------------------------------------------------------------------
Paul Screen, [10.09.19 22:03]
[In reply to CryptoJoker]
yes it is. There's no question that ethereum and it's direct competitors that offer turing-complete programmable contracts are very powerful. But when you actually look at the requirements of businesses trying to onboard to blockchain, we found that most of them just need simple requirements met and don't need all of the complexity and baggage that comes with it.

CryptoJoker, [10.09.19 22:04]
[In reply to Paul Screen]
ok so ca u run only simple multi conditional transactions on the nexus VM or facebook type DAPPs on nexus ?

Viz., [10.09.19 22:09]
[In reply to CryptoJoker]
Nah the VM is the interpreter so the language fits on top, we haven’t designed nexus to be a programming language this is an approach we didn’t agree with. It is APi based so you can code in any language and work with the functionality of the blockchain layer for what you need it to do. No you can’t port EVM code into Nexus

CryptoJoker, [11.09.19 00:22]
[In reply to Viz.]
when you make an api request, does this result in computations done on the blockchain ?

Viz., [11.09.19 00:23]
It depends on the API request, if you do let’s say users/list/notifications then no as this is reading data, but finance/credit/account would since it broadcasts a transaction with OP::CREDIT

CryptoJoker, [11.09.19 00:24]
[In reply to Viz.]
ok thanks , and can you provide me an idea of the flexbility of the VM on nexus ? can it run like facebook type dapps for example ?

Viz., [11.09.19 00:28]
It depends, it depends on what you want the blockchain to do and don’t. Dapp is an overused word and overstated in capability because a blockchain isn’t a computer and shouldn’t ever be, it’s a verifier. So, if you wanted to make a social network on nexus, trade tokens, chat, sure you could. A lot of functionality will be in the logical Layer as there’s no point to compute let’s say an image compression on the blockchain, you would on the logical Layer compress it, hash it, then build an object Register to hold the meta data associated with it that includes the checksum, include description. Then to update, you change the state in the object register, etc. If you wanted to do conditions in some of these interactions you could program the Boolean expression in such as, I’ll sell you this object for 5 NXS, someone is able to claim the transfer based on the condition of their debit, so on.

CryptoJoker, [11.09.19 00:29]
[In reply to CryptoJoker]
how does the functinonality of the nexus scripts compare to that of bitcoin scripts ?
is it fair to assume this:
bitcoin scripting < nexus scripting < ethereum type smart contracts ?
it seems like its mostly built to handle only transactions ...

Viz., [11.09.19 00:31]
[In reply to CryptoJoker]
Not really, our architecture is completely different, hard to compare functionality. Let’s just say bitcoin scripts are slow, clunky, and stack based and only handle a Boolean expression to spend inputs, ours is a register based system with primitive operations and conditions that all interact to provide contract functionality

Viz., [11.09.19 00:31]
[In reply to CryptoJoker]
You miss what the term register means then
And “programmable data structures”

CryptoJoker, [11.09.19 00:31]
[In reply to Viz.]
yes, this is the first time i am encountering this
i also dont have a programming background unfortunately

Viz., [11.09.19 00:33]
A register is a structure that on hardware is what your cpu uses to store numbers in low latency memory (close to the CPU in its internal cache).... hang on, switching to computer...

CryptoJoker, [11.09.19 00:34]
[In reply to Viz.]
ok this is all fine and good, but i guess for a layman like me i just wanna know what its functionalities are in comparison to EVM type VMs ...
what can it do in comparison to EVMs, and is it fasteslower, more expensive/cheaper ?

Viz., [11.09.19 00:36]
Let me explain it like this: Ethereum is like everything put in one bucket, it has a turing complete byte code because they imagined you could program it like a universal computer. The reality is though, that most people abstract away from the EVM and use it for pure data storage, or managing accounts and tokens. They include operations like EXP for example, and use what is termed "Big Numbers" which are numbers that are in the range of 2^256 which is a number with over a hundred zeros. This has led to significant bottlenecks, and little value in being turing complete even though this was their value propositiion.

Viz., [11.09.19 00:36]
Now we get to Bitcoin, which was deliberatly not turing complete, and its scripts were designed to control the conditions on spending inputs in the UTXO model, in which it has proven useful, and some scripts such as OP_RETURN have allowed people to store data on it, but then again it aws not useful for much more than that.

Viz., [11.09.19 00:37]
Then we get to us, think of us between bitcoin and ethereum, but building contracts to act like contracts between people, rather than computer code.

Viz., [11.09.19 00:41]
So think of us as a blend of the two concepts, but in a way that is practical and useful for developers. From my research of talking to many companies that were using blockchain, I deduced a simple common denominator: nobody used ethereum for the turing completeness, they used it to store data. This was the foundation of the architecture that I developed for tritium that is a seven layer stack. So I'm going to break this down, and hope this communicates how it functions to create smart contracts or dapps in just about any capacity that's needed:

Viz., [11.09.19 00:41]
  1. Network - this is responsible for end to end communication between nodes, handling the relaying and receiving of ledger level data

Viz., [11.09.19 00:43]
  1. Ledger - this is responsible for ensuring all data is formed under consensus and is immutable by nature. This is where your 'sigchain' or blockchain account exists. A sigchain is a decentralized blockchain account that allows you to login from any node with a username, password, and pin without the need for wallet.dat files or constantly rescanning the database. This is an important piece to how the layers above work as well, think of it as a personal blockchain that allows decentralized access through the login system that does not store any credentials, but rather deterministically creates a 'lock' mathematically that only your credentials can unlock, using a few different cryptographic functions I won't name here

Viz., [11.09.19 00:46]
  1. Register - this layer is the data retention layer, or the layer that stores information relating to users. A register takes two forms: state and object. A state register is jsut a simple register that can store data in any sequence with no formatting enforced by the ledger. This would be for applications that have a state they want to remain immutable whih they can record in a state register. The second form is an object register, which is a programmable data type. What this means is that I can specify the fields of this register, and set some of the fields to be mutable or immutable such as lets say S/N would be immutable, but notes mutable. This allows objects to take the form much like a struct or class in object oritented languages, that can be accessed by any node, and only written to by the owning sigchain. Now registers sit on top of the ledger, and they can be transferred between sigchains or users, allowing them to take a natural form as assets or simple objects that would be included in a decentralized application such as a crypto kitty, or a post yoj make on social media, etc. This layer is responsible for managing all these states and ensuring the specified fields in these states are immutable, while other fi9elds can be updated like a program would do as it operates.

Viz., [11.09.19 00:51]
  1. Operation - this layer is what gives context to a register and causes some action to take place. It includes two aspects to this layer, Primitive operations and Conditional operations. A contract object is a self contained object containing: a register pre-state (the register that is being operated on), a primitive operation (only one primitive operation per contract), and a set of conditions (any amount of conditional ops may be used for a fee of course). The primitive operations are basic ones like WRITE, APPEND, DEBIT, CREDIT, TRANSFER, CLAIM, CREATE, AUTHORIZE, TRUST, CONBASE, GENERATE. Each of these has a specific operation on the register it is initiated in. This is how you would maintain the state of a decentralized app, lets say crypto kitties, you have an object register that you create with OP::CREATE that has a specific meta data format associated with it, you then OP::TRANSFER it to someone else, but you gie a condition saying they must send 500 NXS beforehand, and this is the stiuplation of the TRANSFER being CLAIMABLE. When this ondition is satisfied you are able to claim the other point allowing for forms of exhange. Other stipulations or conditions could be arbitration, escrow, etc. Conditions are when there is an interaction between two actors or sigchains, which happens with a DEBIT or TRANSFER. Otherwise the other primitive oeprations act on the register such as changing its state.

Viz., [11.09.19 00:52]
  1. API - This layer is responsible for giving an interface for the programmer to build their DAPP. This gies them direct access to login, create registers, create accounts, send coins, read data, manage notifications, etc. This is the layer develoeprs will interact with when building applications.

Viz., [11.09.19 00:53]
  1. Logical - This is the first 'developer' layer, menaing that this is the layer that will give most of the logic to the application. This coudl be simple things like, send message to this user if they have this object that has a value of 'you're my friend' ,or antything else. This layer is the 'backend' of the dapp, and what provides a lot of the functionality. States can be read and written into the register layer, information from the ledger can be shared, stipulations on interactions can be applied. etc.

Viz., [11.09.19 00:54]
  1. Interface - This is the 'user' layer, where the user will interact with. This in the facebook example would be the website you go to, and all the buttons that do fun stuff. This is the last layer of the 'developer' application space.

CryptoJoker, [11.09.19 00:54]
thank you
big applause!!!!

CryptoJoker, [11.09.19 00:56]
ok so to summarize my understanding of this
3 allows for creation and transfer of digital assets/objects
4 governs the operations that on objects in 3
5 interface between dapp logic and registeoperations layer
  1. this is where the "dapp" is written by developers
am i right ?

Viz., [11.09.19 00:57]
So as you can see, all these layers together are what form the foundation of a dapp, with the blockchain doing some things, the application does other things. They togheter give the blockchain scability and easy to build on, and also give the appliation powerful tools to utilize. For example of an object register, your NXS account. It contains fields identifier and balance. The identifier identfies the token's contract-id or object register, and the balance keeps track of how much you have at stake. Object registers can be polymorphic though, so you can create an object register with tehse two base types, but add, notes, which you could fill with personal notes and the DEBIT and CREDIT operations would process it off of the base object, or the account menaing that you can expand from these basic objects and create many different types and uses, creating object oriented and polymorphic behavior

Viz., [11.09.19 00:57]
3 is simply where they are store, it takes 4 to create the object
5 yes
6 yes plus 7, the dapp space is layers 6 and 7 together. If the dapp developer is really good though, they make custom API's with more complex contracts under the hood to provide additional functionality to their dapp, but we currently abstract the developer away from this to prevent them making mistakes that could lose people a lot of money

CryptoJoker, [11.09.19 00:59]
whereas for the EVM, 3,4,5,6 and 7 are all bundles into one entitiy, am i right ?

Viz., [11.09.19 00:59]
And last note, on layer 4, the conditional statements. These also operate on a register based VM that processes the conditional statements, and they can be grouped with as many different conditions as desired, so they can grow into quite complex contracts like we would see with legal contracts.

Viz., [11.09.19 01:00]
EVM doesn't really have layers
It's just EVM opcodes, and then the compiler for solidity which creates the byte code, so maybe two layers
Same with bitcoin scripts
But bitcoin scripts dont have a compiler that creates the byte code so you have to program it as a type of assembly

Viz., [11.09.19 01:01]
So long story short is, our techniques and architecture are quite unique, and designed around years of market research to ensure that it was built as something that people could use easily, but also powerful enough to power the dapps people want to see

Viz., [11.09.19 01:03]
The login account is really important for adoption in my opinion, because users having to manage keys wont bode well for applications that expand, lets say like supply chains or other mobile applications. Managing keys in a file on your computer I think is a big hurdle to mainstream adoption, the other one is the complexity of EVM and how little practical appliation it has, even though it contains a lot of functionality, most of it us unused or abstracted away from
submitted by scottsimon36 to nexusearth [link] [comments]

Long time BTC hodler needs help with claiming fork airdrops

I haven't touch my BTC for a long time but due to tax reasons (not an US citizen) it's a good time for me to claim and sell the different air drops/forks that are available before end of December this year, especially BCH and BSV. Yes, I know I'm late to the game but my BTC holdings are a long bet and I don't easily risk or touch them.
I've read a lot of threads and guides on BCH/BSV splitting but haven't found all answers I need, so here it goes. Any help is appreciated!
Some background info: MY BTC UTXOs are from 2013 and early 2017 and are in a Bitcoin Core 0.19.0.1 wallet.dat (Windows). For preparation I have just moved all my UTXO's to a completely new Bitcoin Core wallet.dat and made several backups of the two wallet.dat files both before and after I moved the UTXOs.

Question 1) Running Bitcoin ABC wallet 0.20.7 with the original BTC wallet.dat displays the correct number of BCH available for me to transfer where i want. Can I safely transfer all those UTXOs from Bitcoin ABC wallet 0.20.7 to my Exchange (Bittrex) without risking the transaction to replay on the BSV chain?

Question 2) If the answer to question 1 above is no - From what I understand from all guides and other threads I've read (although some of them are old) I should import the private keys from Bitcoin ABC wallet in to Electron Cash.
I read that the Electron Cash 3.3.4CS is no longer recommended for splitting and latest version only supports BCH. So my guess is I should use Electron Cash 4.0.12 from https://electroncash.org/ and Electrum SV 1.2.5 from https://electrumsv.io ? Is that correct?
Is the following a correct procedure? (or is there an simpleother method?)
a. Move all BTC UTXOs in Bitcoin Core wallet to a new wallet.dat DONE
b. Import old BTC wallet.dat to Bitcoin ABC wallet. (Full amount of BCH are displayed) DONE
c. dumpprivatekey command in Bitcoin ABC wallet
d. Import the private key in to Electron Cash 4.0.12
e. Buy some BCH on Bittrex and send it to the Electron Cash address
f. Send entire BCH to Bittrex (and sell for BTC....)
g. Import the private key in to Electrum SV 1.2.5
h. Send entire BSV to Bittrex (and sell for BTC....)

Question 3) Are there any other forks worth claiming (for immediately selling) and are fairly easy to self extract non custodial? I hold exchange accounts at Bittrex and Poloniex so the forks should be available to sell there. I do not want to go through the hassle and privacy risks of registering yet another KYC account unless the fork reward is substantial.
Cheers!
submitted by joe_skydiver to CryptoAirdrop [link] [comments]

Developer brain dump incoming

I'm not at all on top of my incoming messages, so in an attempt to stem the flood and address most of them, here's the current contents of my head.
I feel some are using our rise to illustrate the absurdity of cryptocurrency pricing (http://uk.businessinsider.com/dogecoin-cryptocurrency-has-market-cap-above-2-billion-2018-1 for example). To me, in an environment where a cryptoasset with $30 USD equivalent transaction fees has a market cap of over a quarter of trillion dollars, I don't think we're the absurd one. Yes we take ourselves less seriously, but that doesn't mean we're not serious behind the scenes. We're a 4 year old currency with transaction fees barely over a cent and significantly higher throughput than most other cryptocurrencies.
That said, now is not the time to pat ourselves on the back, 1.14 needs shipping and we need wider adoption. If you run a service/store, please look into taking Dogecoin. If you don't, please talk to others about how you can help them accept Dogecoin (DO NOT just flood them with emails saying they should, but ask why they don't and what you can do about it).
On that note, lets talk structure of Dogecoin for a second. A lot of people presume Dogecoin is managed by a single coherent entity - this is very much not the case. The founders, current developers, reddit moderators, IRC, social and other teams behave as loosely coupled teams, with our own projects. We talk frequently, but there's no single leadership structure. In common with Bitcoin we have a post-launch dev team; we are not those who decided to launch a coin (that's Jackson & Billy), we saw Dogecoin as it was and decided it was something we wanted to be involved in. We're also not those who missed out on Bitcoin, I was in Bitcoin in 2011, but I didn't believe in how it was designed.
As a consequence of this, "Why is no-one doing ?" generally boils down to either "We like it this way" or "Why aren't you doing ?".
Most crucially; we're not taking the inflationary coins away because they're why we're in Dogecoin. I said I was in Bitcoin in 2011, and the reason I didn't stick with it is I don't believe in deflationary currencies. Even if we did, we'd have to somehow convince the miners to mine a coin where they weren't paid (which is what the inflation pays for), so the realistic scenario is an inflation-less Dogecoin would either have no miner adoption, or fees matching Bitcoin.
This is typically where someone says something about their investment in Dogecoin. I really can't advise on investments, I bought Bitcoin in 2011 and sold early enough on that I'm typing this from my bedroom rather than a beach, so you probably shouldn't listen to me. I will however say that the developers have a lot less Dogecoin than virtually anyone thinks, and certainly the next dev fund payout is likely to be a significant multiple of my personal holdings, simply because we're post-launch so we've had to buy our Doge the way everyone else had to buy or mine.
What else...
Nodes - I've added a new permanent node in LA, and I'm bringing additional nodes up in Ireland and Seoul now. A bootstrap.dat torrent is being worked on right now, which should help too. If you're running a node please note:
  • It really needs to be kept online, to ensure it's actually relaying more data than it's consuming
  • If you can open port 22556 to the world, please do so, it will vastly improve the number of nodes that can connect to you
  • It's full nodes (those running Dogecoin Core) we need, leaving Multidoge/Android wallet/etc. open doesn't help us very much
1.14 will also significantly improve performance, and is making nice progress. Fees are my next task after this post, and then there's a lot of small items to address, but I'm hoping to get an alpha out shortly. Also I haven't broken testnet yet, which is a nice change compared to 1.10!
We aren't about to introduce paying nodes because it's essentially technically impractical. This could either come from mining rewards (and you can fight either the miners or those who we create too many coins already, for that), or from other receiving nodes themselves. If it's from mining then somehow we'd have to identify contributing nodes, if it's from receiving nodes I'm not sure people are going to be happy with their balance dropping due to network usage. Although it might be a break-even I suppose. Generally, though, paying nodes is called proof of stake, and that's a whole different discussion.
Someone asked about the website - it's being discussed, let me get back to you.
Please treat your Dogecoins and wallet files like you would cash. We can't get them back for you if you send them to the wrong person (if we could, we'd have raided the Dogeparty address and be retired on a beach by now). Keep backups, and never delete old wallets (you never know when you might need a random key from an old wallet).
Full list of changes in 1.14 is coming (although generally if it's in Bitcoin Core 0.14, expect to see it in), but the highlight for me beyond the improved performance is hierarchical deterministic wallets, which mean restoring old wallet backups will recover more recent funds. That should save a lot of lost funds, I hope!
Last one, quick list of Twitter accounts to follow:
I will be reading messages, but your chances of replies are very slim, sorry everyone. Many thanks for all the tips, they are appreciated!
Much wow,
Ross
submitted by rnicoll to dogecoin [link] [comments]

[PLEASE READ] ZClassic > BitcoinPrivate Snapshot/Fork Frequently Asked Questions (FAQ) MEGATHREAD 2.0

I’ve been seeing a lot of repeated questions being asked every day so an updated FAQ/Megathread to address all of those questions will be detailed here. If we are missing something, please feel free to let us know and we will add it. We will try to edit this posting as more information becomes available.
Keep in mind the official Bitcoin Private Support portal has now been launched. We have a live chat feature to chat with support, as well as a knowledge base. Please visit the portal at support.btcprivate.org and use the knowledge base’s search function before asking other users.
Snapshot/Fork FAQ
Claiming BTCP Coins
BTCP/ZCL Exchange and Wallet Support
Donations and Contributions program
BTCP Mining
Wallet Troubleshooting
Miscellaneous/BTCP Project Questions
Donate towards the BTCP contribution team, Your donations are 100% voluntary but they are much appreciated!
ZCL: t1gsePJZ6ojJYygj3PWMGJfojPUoMd5AVfU
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BTCP Related Important Links
For the official list of links from the BTCP Github, refer to the repo.
Just a re-iteration, the BTCP team has launched the support portal offering resources ranging from live support from our teams, as well as a knowledge base that is constantly being updated. https://support.btcprivate.org Again, please feel free to let me know any questions that’s not currently listed above and we will do our best to answer and include it in the megathread.
submitted by BestServerNA to ZClassic [link] [comments]

Corrupted Json File Recovery

Recently created a new Wallet (thought I had the password written down or AT LEAST the Seed Words and began to transfer some funds over. 30 minutes later the funds were showing up in my wallet but I noticed some glitchy UI bugs and app freezing so I decided to uninstall Wasabi along with all its packages and try a fresh install.
After the fresh install I entered my seed words and (what I thought was the correct password) but upon synching and opening the new wallet there is a 0 balance. Yes this is partly my fault because I assumed Wasabi was like 99.9% of all other bitcoin wallets in terms of only requiring the seed words to recoverestore, but later realized Wasabi encrypts the private key with both Password & Seed Words.

I was able to partially recover the deleted original wallet (json file) but unfortunately it is corrupt and thus will not load or import into Wasabi.

So this is where I currently stand
I possess the recovery seed, original wallet file(CORRUPT), addressmanagermain.dat file, and transactions.json file all from the original wallet, but cannot remember the original password.
Can anyone help or provide some guidance in recovering my original wallet with resources including the files and seed words I mentioned above?
submitted by pistola111 to WasabiWallet [link] [comments]

(Upvote to the top) > SOLUTION FOR ZCLASSIC Eleos Wallet: "Wallet daemon can not be run. Check if daemon does not already run"

So I noticed a lot of people recently (including myself) are experiencing the error "Wallet daemon can not be run. Check if daemon does not already run" when trying to open up their ZCL Eleos wallet, and people are unable to access their funds or cannot export their private keys as well. A solution to this is now official (thanks to JBrutWhat from the BTCP team for helping me out on this.) Note: Post is being edited as more info becomes available to me.
This solution also works for users who are on the ZClassic Swing wallet experiencing the error "A general unexpected critical error has occurred: error: Couldn't connect to server, see the console output for more detailed error information!."
Eleos Wallet Troubleshooting section
ZClassic Electrum Wallet
  1. Create a new standard wallet and restore the 2FA wallet using your "seed" codes. DO NOT password protect this wallet.
  2. Disable the 2FA feature when presented with the option.
  3. Navigate to C:/Users/YOUR-NAME/AppData/Roaming/Electrum-zcl/wallets. Open the new standard wallet file with Notepad.
  4. You will need to gather the 2 private keys and one public key. To find this easily, press “CTRL+F” and search for “xprv”. Copy the 2 “xprv” values as well as the last “xpub” value. You will need these in a later step.
  5. Create a new “Multi-signature wallet”. Select “From 3 co-signers” on the first slider. Select “Require 2 signatures” on the second slider.
  6. To add the first co-signer, click “Use public or private keys”. Enter the first xprv key in this box.
  7. Add the second co-signer via a private key also.
  8. Add the third co-signer with the public key. Complete the set-up.
  9. Your wallet funds now have the ability to be sent from the multi-signature wallet.
For Users who were already using the Electrum wallet beforehand, you can go to file > new/restore wallet > next > import zclassic private keys and input the private key you obtained from the walletaid tool, and it should import the wallet into the electrum wallet. Then from there, go to file > backup wallet and export a copy of the wallet.dat file onto an offline USB.
Reminder: Backup and delete the private keys file from your desktop pc/hard drive, move it into an offline USB for safekeeping. Do not leave it on an online device.
Donate to me if you found the guide useful! Your donations 100% voluntary but they are greatly appreciated and keep us going!
ZCL: t1fkxCWJs3f2oXznGwZuEgftJ2SCjYZ8VjZ
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LhAERgWcjbbXQbGqjhy4owALGhwfpj1aw2
ETH: 0xe723305337926e1fcb5dd0495e6648569a252c13
BCH: 1JXqLHqjYH8bew38AXwEt9dmKvsdYwLtvr
LINKS
(You can join the discord rooms where there are channels for users looking for help)
submitted by BestServerNA to ZClassic [link] [comments]

[PLEASE READ] ZClassic > BitcoinPrivate Snapshot/Fork Frequently Asked Questions (FAQ) MEGATHREAD 2.0

I’ve been seeing a lot of repeated questions being asked every day so an updated FAQ/Megathread to address all of those questions will be detailed here. If we are missing something, please feel free to let us know and we will add it. We will try to edit this posting as more information becomes available.
Keep in mind the official Bitcoin Private Support portal has now been launched. We have a live chat feature to chat with support, as well as a knowledge base. Please visit the portal at support.btcprivate.org and use the knowledge base’s search function before asking other users.
Snapshot/Fork FAQ
Claiming BTCP Coins
BTCP/ZCL Exchange and Wallet Support
Donations and Contributions program
BTCP Mining
Wallet Troubleshooting
Miscellaneous/BTCP Project Questions
Donate towards the BTCP contribution team, Your donations are 100% voluntary but they are much appreciated!
ZCL: t1gsePJZ6ojJYygj3PWMGJfojPUoMd5AVfU
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BTCP Related Important Links
For the official list of links from the BTCP Github, refer to the repo.
Just a re-iteration, the BTCP team has launched the support portal offering resources ranging from live support from our teams, as well as a knowledge base that is constantly being updated. https://support.btcprivate.org Again, please feel free to let me know any questions that’s not currently listed above and we will do our best to answer and include it in the megathread.
submitted by BestServerNA to BitcoinPrivate [link] [comments]

crack wallet.dat without bitcoin core Bitcoin Wallet.dat FTP Email Stealer Rupee - Replacing Wallet.dat file with a backup 1 BTC Wallet.dat Bitcoin How to: Find your wallet.dat and replace it (MAC)

I am fairly new to Bitcoin, but one year ago, I made a Bitcoin address on Bitcoin-Qt, but I stopped using it, because the whole database downloading took so much space on my disk. I have my wallet.dat file, but I don't know, where can I use it. I tried Electrum, but it seems that the wallet.dat import doesn't work there. After work i picked up guessing my password again, and boom, guessed it. Now i had an actual wallet.dat from 2011! I installed the bitcoin.com osx wallet app and tried importing it. No luck, it ... I had about $8 USD worth of bitcoin in a wallet, and I backed up the wallet.dat to my dropbox. According to the modified date of the file this was in April 2013, so it was probaby from bitcoin qt version 0.8.1, or maybe a little earlier. I basically left it there and haven't done anything with bitcoin since then. Since it is worth probably at ... Cannot find the wallet.dat file - i see only H files and CPP files. I see: C: Program Files (x86) > Bitcoin > then i see src and daemon folders (with Currently waiting for my old MacBook to install iOS Sierra as the latest Bitcoin Core wouldn’t run on iOS Capitan which my MacBook was still running haha. Was able to view the text file of the wallet.dat file however and think I can see the bitcoin address. If I was to put this into a site that can show the value of a bitcoin wallet (like ...

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crack wallet.dat without bitcoin core

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