The RIZON platform, developed and provided by Hdac Technology, aims to be a decentralized platform that meets a variety of needs required in the hyper-connected society by combining blockchain with other core technologies including IoT, Cloud, Big Data, and others.
Was it a good idea for a user to shoot his iPhone (heathen non-Bitcoin device) with a sniper rifle because an anonymous stranger on the internet promised him a Nexus 5 for doing it?
Is this a good idea for a Bitcoin device that allows easier in person purchases?
The idea is to have a device like a Trezor wallet that has Bluetooth/WiFi capabilities and allows transfers of Bitcoins in degrees of 1 satoshi, 10 satoshi, 100 satoshi, and so forth until maybe up to 1 Bitcoin. This increment is just an example and will function similarly to how current Fiat bills/coins work in transactions. The device then picks up another signal by being put into close proximity to a transmitter operated by the retailer. This transmitter provides a Bitcoin address that the device picks up and can transfer Bitcoins in the previous increments. From here, the purchaser chooses a Bitcoin value one increment higher than the value of the purchase and sends it to the address. Assuming it is confirmed, the retailer then sends back the difference between what was paid and the value of the purchase, essentially providing change to the purchaser. So it would essentially work like this; I walk into a store with my device and grab all of my groceries, bring them to the teller and my total is 0.5BTC. Take out my wallet device, hold it to the transmitter and send 1BTC. Transaction is confirmed, and 0.5BTC is transferred back to my wallet. The idea of this system would be to reduce the time needed to punch in the exact numbers for your purchase and instead take a more robust approach with the purchase. Another implementation of this idea is that the transmitter does a request for the amount of Bitcoin the purchase is, and you can then confirm or deny the transaction with a button on the device. This removes the need for the monetary increments but I'm not sure if the technology is currently possible as I'm still relatively new to bitcoin and what we can do with the technology. The wallet device could be the size of a Flash drive or the size of your phone depending on how the technology develops and what is deemed a good size for a wallet, because you certainly don't want to lose it. If you do lose it there could be multiple levels of authorization required for access, maybe even a thumbprint scanner if the tech develops that far. You can also keep a copy of the wallet at your house or in a safety deposit box on an offline drive, meaning if your device goes missing you can still safely remove the funds to a secure wallet. I'm sure someone has already thought of this but I'm just trying to brainstorm for the future of bitcoin wallets and purchases.
Bitcoin device being a dumb down version of Smartphone
I'm sure there must be a lot of those that are about to show up. What have you heard? Not everyone has a smartphone nor do they have a phone plan. Imagine a cheap $100 device that has basic communication (infra red and/ or wifi, and usb port input) to communicate with a store device to make the payment. Do you know what's out there so far in planned works and also currently available?
Do Bitcoin owners, literally, retain the keys to $500,000 or $1,000,000 on one ledger device?
I've had a hard time understanding that a Ledger does not hold coins, it holds keys, which allow access to coins on a blockchain. I'm still grappling with questions but I'd still like to know if people limit how much value is stored on one device.
I just sent this to Scott for the Mum of the 12 yo miner - BitCoin
Scott, I am suggesting you email the mum of the 12 year old miner. You wont get a decent bitcoin device for $120 and the power cost of mining is now high. A proper mining device strts at a few thousand. This link has examples of mining devices and has a power calculator to find out if the mining cost is higher than the value of the coin you get. https://www.buybitcoinworldwide.com/mining/hardware/ Lower down it rates the current miners with a suggested amount of earning, with the best sub $500 ones earning about $1 per year. From a learning perspective, he will learn that you can pay $120 plus power consumption to get a few cents. Maybe sending him that link is a bettter learning point.
Some newbie questions about Trezor device and bitcoin wallets
Greetings I have never owned bitcoin before, but I studied how it works, so I think I have some understanding. I also studied options and it seems hardware wallet is the way to go for safety reasons. So, question number One, am I correct that: Unlike a bank account, where you keep one account usually, with bitcoin you keep generating new addresses, so if you own 1 bitcoin, you don't store it on one address, rather, you own many addresses, each containing part of your bitcoin, and when you spend, you just expend some of the addresses and throw them away, and when you receive, you generate new addresses for every transaction, so you accumulate these addresses that each are like a banknote of sorts, each having their own nominal value, and then you spend those banknotes and never use those addresses again. Right? Question number Two, am I correct that: All the addresses are generated from a certain big number, "master key" of sorts, which is private to me, which can be written in a form of "seed" which is what the device will give me when initialized, which is what I can use to recover my master key if I lose or break the device? Question number Three, who does the address generation for bitcoin wallets for new incoming transactions? I assume it's the online wallet Trezor uses, right? So the device does not store any addresses of bitcoin wallets, right? It only stores my master key? Assuming all are correct, can you please explain, in simpliest terms, how do I restore these addresses themselves, should Trezor online wallet be unavailable? I mean, it's hardly a possibility, but assume I have my seed, or even my Trezor device, but Trezor online wallet is unavailable. Assume I made hundreds of bitcoin transactions and my bitcoin is stored in hundreds of small pieces on different addresses. How do I recover all those? How do I know when to stop, when I have recovered them all? Assuming I don't know the amount I totally own by heart, so I cannot know when to stop (When I found all my bitcoin)? I mean, it's unlimited, right, the amount of bitcoin addresses that can be generated from my "master key" of my Trezor? So how do I know which of them contain bitcoin? Like, say I have used 200 of them and 100 of them still contain bitcoins, and I lose the device, and have to restore from seed, how does it know that it has to generate only those 200, like, how does it know it doesnt have to generate more addresses, maybe those other addresses contain some bitcoin on them too? Or does it, generate them always in the same order, so if it sees only blank unused addresses, it assumes it's time to stop? Like, if address 0-200 are all used but 200-300 are all unused still, it assumes it's fine to stop checking? Also, on an unrelated note, how can I be sure I made no mistake in recording the seed? Can I just wipe the device and restore it from seed right after initializing it and receiving a small bitcoin transaction, to test it and be sure that I can recover my bitcoin in case I lose it? Is the device unlimited in terms of how many times it can be wiped and restored? Thanks in advance!
Handheld, Satellite-Connected Device for Making Bitcoin Transactions and Verifying Paper Bitcoin Wallets
Any engineers out there know how much it would cost to build something like this? An off-grid Bitcoin device would be pretty game changing in Africa, India, and (drum roll)... China.
I am interested in supporting the adoption of crypto. Thinking of sponsoring a few local bitcoin machines that have decent premiums (rather that the 10%+ I have been seeing). Any leads on how I could get started with this (lower cost devices to utilize with decent owner/operator support)?
10-05 06:54 - 'that's a techie solution. / edit: it's a god damn alien looking device that nobody, even in this sub, uses. and until it becomes widely used, and not just widely used in r/bitcoin, it will remain a techie solution.' by /u/soontobesilenced removed from /r/Bitcoin within 875-885min
[ Bitcoin ] Help -I’m just looking for the cheapest option to store my bitcoin and Monero on the same cold storage device !
[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by OmwtoproMycolagist [link]
Help -I’m just looking for the cheapest option to store my bitcoin and Monero on the same cold storage device !
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"Open the Bitcoin app on your device" BUG!! Ledger Live 2.10.0 and latest firmware 1.6.1
It is impossible to send Bitcoin from the Ledger Wallet to an exchange via Ledger Nano S. Ledger Live Bug: The message "Open the Bitcoin app on your device" is displayed. I open the Bitcoin app (latest version) on the device. The message jumps back to "Connect and unlock your device". I tried different cables, different USB ports, different computers and reboots. Sending Bitcoin no longer works. I would like to try the old tip regarding Experimental USB. But this option is no longer available in the new Ledger Live App. So I cannot move my Bitcoin, although this is urgently necessary. The experience with Ledger Nano S has been very bad so far.
So can you use seed words to restore a wallet from one hardware wallet onto another type of hardware wallet? Or are those device-specific? Thanks (x-post from /r/Bitcoin)
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