Topic: Mycelium Bitcoin Wallet - page 32. (Read 586161 times)
When the MT to start trading?
I never used reversible payments, in the US, I accept Cash deposits only, and you can fall for a MITM scam (many fellow traders have).
If you feel like it, please explain how the MITM scam works.
An LBC trader [From Australia] already made a video about it : https://www.youtube.com/watch?v=Tk20pBdinWA (8m in too long IMO)
can't watch, too long and too much talk about teddybears and my little ponies.
Can someone wrap it up?
sure, I will make it simple.
There are 3 persons in this scenario :
1. I, Tom who is a Bitcoin trader (Let's say on LocalBitcoins).
2. Ali, who is a scammer and who will act ad Bitcoin buyer (Will open a Buy trade from me Tom on Localbitcoins)
3. Carla, an old lady who doesn't know/care about Bitcoins.
Ali will post an ad on craiglist to sell / rent something, it could be a computer, a bike or whatever for a good price ($800 for example).
Ali would open a buy trade from me Tom on Localbitcoins of $800 and collect my bank details (name and Account number).
Ali would ask Carla to deposit the money in Tom's account (he could just say that if she does not get the item, she could report to the police).
Ali would ask Carla to take a picture of the receipt and send it via SMS/Email
Ali would upload the receipt as proof of payment for Tom on localbitcoins.
Tom will release the BTC for Ali.
I think you can easily imagine the rest of the story [Carla will report the scam to the police, get her money back and Tom is ducked.]
I never used reversible payments, in the US, I accept Cash deposits only, and you can fall for a MITM scam (many fellow traders have).
If you feel like it, please explain how the MITM scam works.
An LBC trader [From Australia] already made a video about it : https://www.youtube.com/watch?v=Tk20pBdinWA (8m in too long IMO)
can't watch, too long and too much talk about teddybears and my little ponies.
Can someone wrap it up?
I never used reversible payments, in the US, I accept Cash deposits only, and you can fall for a MITM scam (many fellow traders have).
If you feel like it, please explain how the MITM scam works.
An LBC trader [From Australia] already made a video about it : https://www.youtube.com/watch?v=Tk20pBdinWA (8m in too long IMO)
I never used reversible payments, in the US, I accept Cash deposits only, and you can fall for a MITM scam (many fellow traders have).
If you feel like it, please explain how the MITM scam works.
You must be living in Nigeria, right?
I live in the US actually, and for Bitcoin P2P trading, Localbitcoins is what I use.
Tell me more about Nigeria ? countries are scam-free except Nigeria ?
Yes, mostly.
More seriously, have you had problems with cash payments or with other payment systems? I would not be too surprised when there are problems with reversible payments. Systems like PayPal and bank transfers, where payments can be rescinded, invite scammers.
On Localbitcoins the bitcoin seller is safe, but the bitcoin buyer carries the risk that the bitcoins are never released from escrow, because the seller falsely states that he has never received the money, while, in fact, he has. After some time Localbitcoins refunds the bitcoins from escrow back to the seller, who then has both the money and the bitcoins.
I guess they do their best to resolve such conflicts, but it is difficult for the bitcoin buyer to prove that he has sent the money and that the bitcoin seller has actually received it.
I prefer cash trades through Mycelium Local Trader. Try it, you may like it too.
I used Localbitcoins to sell my coins on all continents (I travel a lot) and I never had any problem ~ But yes there are many scam attempts.
I never used reversible payments, in the US, I accept Cash deposits only, and you can fall for a MITM scam (many fellow traders have).
PayPal, Venmo and other horrible payments are mostly used on paxful (the niche of scammers).
In the other hand, I accept credit card payment on buysomebitcoins.com and we have never received any chargeback (usage of Payer Authentication and Mobile banking 2FA, but that is another story).
You must be living in Nigeria, right?
I live in the US actually, and for Bitcoin P2P trading, Localbitcoins is what I use.
Tell me more about Nigeria ? countries are scam-free except Nigeria ?
Yes, mostly.
More seriously, have you had problems with cash payments or with other payment systems? I would not be too surprised when there are problems with reversible payments. Systems like PayPal and bank transfers, where payments can be rescinded, invite scammers.
On Localbitcoins the bitcoin seller is safe, but the bitcoin buyer carries the risk that the bitcoins are never released from escrow, because the seller falsely states that he has never received the money, while, in fact, he has. After some time Localbitcoins refunds the bitcoins from escrow back to the seller, who then has both the money and the bitcoins.
I guess they do their best to resolve such conflicts, but it is difficult for the bitcoin buyer to prove that he has sent the money and that the bitcoin seller has actually received it.
I prefer cash trades through Mycelium Local Trader. Try it, you may like it too.
You must be living in Nigeria, right?
I live in the US actually, and for Bitcoin P2P trading, Localbitcoins is what I use.
Tell me more about Nigeria ? countries are scam-free except Nigeria ?
I am using the iOS version and it is just perfect, I do not store any coins in it though.
I used the Android version once and the P2P Exchange is populated by scammers only, new users will always fall for scams and since there is no escrow you should probably disable it.
I used the Android version once and the P2P Exchange is populated by scammers only, new users will always fall for scams and since there is no escrow you should probably disable it.
You must be living in Nigeria, right?
I use the Mycelium Local Trader from time to time and have yet to meet anybody there who wanted to scam me. Conversely, I am actually surprised why bitcoin traders are always nice people. Still awaiting the first fraud …
I do only person-to-person cash trades though. Don't know about PayPal or other payment methods. Those may be used by scammers.
As to security, obviously a wallet in a mobile phone can never be 100% secure and should not be used for large values, although the Mycelium crew is doing its best to keep it secure. For a truly secure mobile wallet, buy a Trezor. The tiny device contains your private keys, connects to your phone and interfaces with Mycelium, but never reveals those keys. It does the signing in its own sealed hardware and leaves only the non-critical convenience functions to Mycelium, so it is almost as easy to use as pure Mycelium, yet remains highly secure. Highly recommended.
I am using the iOS version and it is just perfect, I do not store any coins in it though.
I used the Android version once and the P2P Exchange is populated by scammers only, new users will always fall for scams and since there is no escrow you should probably disable it.
I used the Android version once and the P2P Exchange is populated by scammers only, new users will always fall for scams and since there is no escrow you should probably disable it.
doesn't this leave things open for miners gaming the system?
https://www.reddit.com/r/Bitcoin/comments/5bizrb/1block_confirmation_fee_estimates_are_absurdly/d9ozcfb/
this implies that all it takes is for one miner to demand crazy high fees and then every wallet adjusts accordingly and throws everything off.
https://www.reddit.com/r/Bitcoin/comments/5bizrb/1block_confirmation_fee_estimates_are_absurdly/d9ozcfb/
this implies that all it takes is for one miner to demand crazy high fees and then every wallet adjusts accordingly and throws everything off.
I wouldn't take too much notice of Luke's post. Mycelium uses Bitcoin Core for its fee estimates, and Core doesn't know anything about individual miners or their fee policies.
> When you target the next 3 blocks, your wallet knows it can ignore up to 66% of the highest-fee-required miners
I've no idea how that is meant to make any sense.
But the bottom line is that we have to pay enough for the miners to put our transactions into blocks. How much that is depends on the miners' individual fee policies, of course.
What is up with this fee? I send $19 and they charge me $4? Even with priority fee set I don't see how they take almost 25% of my transaction. What the heck is up with this?
I looked into using Mycelium to send 50 BTC a while ago, and took screenshots showing the fee for each setting:
I wish there was an option to use a smaller fee. I ended up making the transaction manually with a much lower fee, and it was confirmed within 3 blocks I think.
Just wanted to pop in here and say that after a while of using it, Mycelium is still my favorite mobile wallet. I've never had any issues with it, and I love the design and abundance of features. Keep up the good work.
Recently installed this wallet and transfer some few of my funds. I have a question, Is it possible to use again your previous btc address in receiving btc
Assuming you're talking about addresses generated by your new Mycelium wallet (not about importing from other wallets, as referred to by Millionero above) then yes, it's possible. You get new receiving address each time, as re-using addresses is less secure, but you can see previous addresses (and use them again) when you highlight your account and click sign message (top right), you will see all your addresses listed, just copy the one you want to re-use.
ps. I'm talking about android version.
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if this carries on with bitcoin in general then I'm done with it unless we get a cheaper second layer very soon. I'll leave the insane expense to those who don't want to be censored or whatever.
if this carries on with bitcoin in general then I'm done with it unless we get a cheaper second layer very soon. I'll leave the insane expense to those who don't want to be censored or whatever.
I hear you. You're not the only one. What pisses me of equally to the high fees, is unpredictability, you can't really plan your txs ahead. Sending small amounts (i.e $5 worth) with normal priority and paying almost $1/tx just makes no sense.
You're lucky that you noticed beforehand, I use 'normal' priority and tend to never check the fee amount, as so far they've been reasonable, time to change my habits I guess.
i'm in the same boat. i just priced up sending 1 btc, albeit with maybe 20-25 inputs, the priority fee is $40 freaking dollars. what is going on? this is on android.
WTF? $40 is insane. Did you pay that?
I was also charged strangely high fee yesterday for normal priority tx. 0.00107 for 1.5kb. Much higher than I'd expect, but I can live with that and it was more less in line with http://bitcoinfees.21.co suggested fees.
nope. if this carries on I'll move the keys to a wallet i have control over.
if this carries on with bitcoin in general then my next transaction will be getting rid of it all unless we get a cheaper second layer very soon. I'll leave the insane expense to those who don't want to be censored or whatever. this fee market bullshit is about ten years too early if due at all.
Recently installed this wallet and transfer some few of my funds. I have a question, Is it possible to use again your previous btc address in receiving btc
Of course You can do it again, but you must have the seed if you use hd wallet and if you used wallet from new generated make sure you have done back up and put on save place. Recently installed this wallet and transfer some few of my funds. I have a question, Is it possible to use again your previous btc address in receiving btc
Go to Accounts, and click the key+ symbol.To import a single (not HD) private key or address (you have a choice), click Advanced.
There's no way to enter text. You've got to have a qr code to scan. The app should recognize whether the code is a private key or just an address.
To generate a qr code of your private key or address, you may be able to use your old wallet.
If you can't do that, there are apps for generating qr codes from text. This will mean entering your private key into an app. It might be a good idea to do it offline. After generating the qr code delete the data for the app that you used for generating the qr code, or uninstall the app, before you go back online with the device you used. You don't have to be so cautious if you're importing a watch-only wallet, where mycelium stores only the address.
If you just installed mycelium, I suggest setting a pin. You can specify which operations require a pin. If you haven't set a pin and your phone is lost or stolen, somebody can empty your wallet.
Recently installed this wallet and transfer some few of my funds. I have a question, Is it possible to use again your previous btc address in receiving btc
Some people here overlook that this is a champagne problem, a sign of bitcoin's overwhelming success. It is a reason to celebrate, not to despair.
Such problems are usually overcome in due time.
Such problems are usually overcome in due time.
i'm in the same boat. i just priced up sending 1 btc, albeit with maybe 20-25 inputs, the priority fee is $40 freaking dollars. what is going on? this is on android.
They said bitcoin will be cheaper than the banks! They said it will last foreva!
If this crap continues like this, get ready for massive abandonments on bitcoin. Wtf does it mean the fees can change because of the load on the blockchain? Can it be 100$? If so why the fuck are we using this shit?
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