confused regarding Bitcoin payments | Bitcointalksearch.org

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: luciann on September 09, 2015, 12:12:54 AM

Quote from: Blazr on September 08, 2015, 09:35:27 AM

Quote from: AceBitcoin on September 08, 2015, 08:10:00 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

I used to use multibit a lot but I don't like anymore. It has had some concerning issues in the past that caused people to lose money and the developers didn't seem so interested in getting to the bottom of it, it really damaged my trust in them. It's free wallet software written mostly by volunteers, they don't have the resources to properly deal with serious issues like that.

I would highly recommend electrum however, it's an absolutely great piece of software which I've had very few issues with ever. It's a very quick, lightweight, simple and secure bitcoin wallet which can be used for almost any situation. The developers have a clear vision for what they want to make and have simplified things that used to be very difficult for new users to do.

so long story short, just go with the reputable desktop wallets like the bitcoinqt lol.

also while were on the topic of wallets, I sugges to avoid blockchain as well since they have past history with losing btc.

I haven't heard of them losing BTC, just being offline due to things like DDoS. And BitcoinQT is definitely the most reputable wallet.

luciann

sr. member

Activity: 252

Merit: 250

Quote from: Blazr on September 08, 2015, 09:35:27 AM

Quote from: AceBitcoin on September 08, 2015, 08:10:00 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

I used to use multibit a lot but I don't like anymore. It has had some concerning issues in the past that caused people to lose money and the developers didn't seem so interested in getting to the bottom of it, it really damaged my trust in them. It's free wallet software written mostly by volunteers, they don't have the resources to properly deal with serious issues like that.

I would highly recommend electrum however, it's an absolutely great piece of software which I've had very few issues with ever. It's a very quick, lightweight, simple and secure bitcoin wallet which can be used for almost any situation. The developers have a clear vision for what they want to make and have simplified things that used to be very difficult for new users to do.

so long story short, just go with the reputable desktop wallets like the bitcoinqt lol.

also while were on the topic of wallets, I sugges to avoid blockchain as well since they have past history with losing btc.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: Herbert2020 on September 08, 2015, 10:16:58 AM

Quote from: Blazr on September 08, 2015, 09:35:27 AM

Quote from: AceBitcoin on September 08, 2015, 08:10:00 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

I used to use multibit a lot but I don't like anymore. It has had some concerning issues in the past that caused people to lose money and the developers didn't seem so interested in getting to the bottom of it, it really damaged my trust in them. It's free wallet software written mostly by volunteers, they don't have the resources to properly deal with serious issues like that.

I would highly recommend electrum however, it's an absolutely great piece of software which I've had very few issues with ever. It's a very quick, lightweight, simple and secure bitcoin wallet which can be used for almost any situation. The developers have a clear vision for what they want to make and have simplified things that used to be very difficult for new users to do.

i confirm that, i have been using Electrum for over a year now. never had any problem with it. there is always servers that you can connect to and it is fast and secure.
on top of that the developers are active on the project and you can find ThomasV (not sure about the spelling) on the Electrum section of forum helping and checking out users problems.

It's also worth noting that you can recover wallets of you remember the passphrase, which is awesome.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: Blazr on September 08, 2015, 09:35:27 AM

Quote from: AceBitcoin on September 08, 2015, 08:10:00 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

I used to use multibit a lot but I don't like anymore. It has had some concerning issues in the past that caused people to lose money and the developers didn't seem so interested in getting to the bottom of it, it really damaged my trust in them. It's free wallet software written mostly by volunteers, they don't have the resources to properly deal with serious issues like that.

I would highly recommend electrum however, it's an absolutely great piece of software which I've had very few issues with ever. It's a very quick, lightweight, simple and secure bitcoin wallet which can be used for almost any situation. The developers have a clear vision for what they want to make and have simplified things that used to be very difficult for new users to do.

i confirm that, i have been using Electrum for over a year now. never had any problem with it. there is always servers that you can connect to and it is fast and secure.
on top of that the developers are active on the project and you can find ThomasV (not sure about the spelling) on the Electrum section of forum helping and checking out users problems.

Blazr

hero member

Activity: 882

Merit: 1006

Quote from: AceBitcoin on September 08, 2015, 08:10:00 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

I used to use multibit a lot but I don't like anymore. It has had some concerning issues in the past that caused people to lose money and the developers didn't seem so interested in getting to the bottom of it, it really damaged my trust in them. It's free wallet software written mostly by volunteers, they don't have the resources to properly deal with serious issues like that.

I would highly recommend electrum however, it's an absolutely great piece of software which I've had very few issues with ever. It's a very quick, lightweight, simple and secure bitcoin wallet which can be used for almost any situation. The developers have a clear vision for what they want to make and have simplified things that used to be very difficult for new users to do.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: AceBitcoin on September 08, 2015, 08:10:00 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

Those vulnerabilities has indeed been fixed. I still wouldn't trust them considering that both could have been prevented by pentesting the script before updating the website and the another vulnerability actually existed for quite a long time. Multibit is quite a user friendly hotwallet, its quite simple while offering all the basic features.

AceBitcoin

newbie

Activity: 18

Merit: 0

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Thanks ranochigo.I am quite apprehensive on hearing about their security vulnerabilities. Hopefully such vulnerabilities have since been patched and fixed.Do you recommend Multibit as a viable hot wallet?

AceBitcoin

newbie

Activity: 18

Merit: 0

Regarding Coinbase,well I am glad to learn that they are finally accepting my country Singapore. However I also hear that they don't allow you to store your own private keys.So essentially they have total control over your Bitcoin? And their privacy policies, like their KYC rules demand all kinds of verification documents to qualify as a Level 2 buyer/seller of Bitcoin on their exchange.Any truth to these? Thanks!

addy boy

full member

Activity: 182

Merit: 100

Bitcoin payments are not that much complexity bro.suppose you send some coins to your friend then it will be recorded in a ledger which will be brodcasted to public in blockchain.info and bitcoin miners will conferm it and as soon as it gets conformed your friend can use those coins

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: ranochigo on September 07, 2015, 08:54:02 PM

Quote from: ranlo on September 07, 2015, 08:33:22 PM

Quote from: CanIHazBitcoin777 on September 07, 2015, 06:23:49 PM

Quote from: ranlo on September 07, 2015, 01:51:32 PM

Quote from: CanIHazBitcoin777 on September 07, 2015, 07:33:59 AM

Quote from: ranochigo on September 07, 2015, 07:16:53 AM

Quote from: CanIHazBitcoin777 on September 07, 2015, 07:04:07 AM

Quote from: ranochigo on September 07, 2015, 06:36:39 AM

Quote from: AceBitcoin on September 07, 2015, 05:27:39 AM

yes I am using the blockchain.info on my computer but I have been told to try the wallet at
https://greenaddress.it/ which many have said have safer privacy and security mandates.

Blockchain.info in theory should be quite secure. They offer pretty good security features, allowing you and only you to be able to access the private key thus no one else can spend it. However, they have incredibly bad reliability due to their recent downtimes and several security vulnerabilities which could have been avoided. Greenaddress.it is quite a good choice but the android app is slightly buggy for me. I would recommend either Multibit or electrum for the best ease of use as you can easily forget your mnemorics on greenaddress.it.

Yes but you can export a backup of the wallet, and in case they get shut down permanently, or they lose your wallet, you can still recover your funds with another wallet provider.

What if there is a bug in their wallet generation process? That is what I meant by unreliability. This has happened twice and could potential caused thousands of users their entire Bitcoin savings. Greenaddress.it takes a less conventional way that is to use nlocktime but it requires you to wait in the event that they get shut down. Correct me if I'm wrong.

Well if they happened twice already then its a bit unreliable. They either fixed it already, or they are very unreliable.

Either way I would not hold more than 0.1 btc in an online wallet. Usually that amount is enough for you to spend your average bitcoin payments. Whenever you spent it you just refill it from your cold storage wallets.

For online wallets (read: hot wallets) I would just use an insured system, like Coinbase, Xapo, Circle. Problem solved.

But then you trade privacy for security, as they will ask you for all documents, and they already censor some transactions.

Big brother will decide what you can buy and what you cant, not you!

I've given personal information to exactly zero of those, so not sure where your information comes from.

Coinbase:https://m.reddit.com/r/Bitcoin/comments/2mcp4w/warning_do_not_use_coinbase_as_a_wallet/. There was also a bug which allows attackers to bypass 2FA by writing some codes. I feel that this is quite a serious issue.
Xapo:https://support.xapo.com/how-do-i-verify-my-phone-number I had to verify my account last time I used it.

Since they are registered businesses, they would be obligated to send private transaction info to the authorities. Furthermore, with no control over your private key, it would be quite hard to withdraw them with guaranteed 0-delays. In the event that the site gets offline due to an attack, you would have to wait before being able to retrive your bitcoins back.

Your verifications are about buying and selling. I've used Coinbase for over two years with no issues. Withdrawing instantly isn't an issue, as, again, I use it as a hot wallet. Cold storage for coins that matter.