Cryptocurrency Wallets

CryptoCurrency Wallets

I am continuing my education regarding MyCryptoWorld.

Today I am looking at wallets. Previously I have learn't that Cryptocurrency transactions are protected by military level encryption and physical coins do not exist. So where is the best place to store our Bitcoins or other cryptocurrencies.

There are three types of wallets

  • User controlled wallets
  • Hosted wallets
  • Hardware wallets

Your options. probably  depends on your age and familiarity with using computers and mobile devices and how often or how many coins you have, the choice is very much up to you.

My first choice is a user controlled wallet such as Blockchain, which is web based and also can be used on mobile devices. You have full control over your money, but that comes with its own dangers: you could lose your private keys, your computer could be hacked and the keys could be stolen, or your computer could break, and if you did not keep another record of your keys, you’d be out of luck.

One reason I like Blockchain is because the wallet is built on an HD (or hierarchical deterministic) framework, which has a different method for address generation and management. Each public address your wallet generates stems from your wallet's xPub (or Extended Public Key). Once your public address receives an incoming payment, a new address will automatically be generated and display when you click on receive.

There is a danger If you use the same address every time you receive funds, it becomes easy for anyone to track your entire payment history. This method of address generation improves privacy by automatically presenting you with a new address when you’re expecting payment.

I have also looked at Circle which is a hosted wallet which is more mobile based and very user friendly wallet,which can hold currencies or Bitcoin and you can send and receive either to other people by using email or Bitcoin addresses. However, there are limits which are placed on you initial transactions (0.3329 BTC weekly limit) No need to worry about anything except the limits, Great for day to day use. No need to use Bitcoin exchanges as this is all built in, Conversions are made when you add or remove funds from your wallet. Bitcoin balances in your Circle account, are fully insured against any breach of digital or physical data storage at Circle.

Initially I thought that its security was not up to scratch as I was not required to supply ID information to purchase Bitcoin. When I wanted to send Bitcoin however, I had to supply additional information which delayed the ability to send for 3-5 working days.
 

Hardware wallet is a special type of Bitcoin wallet which stores the user's private keys in a secure hardware device, which might be a usb or other storage device such as a mini computer

They have major advantages over standard software wallets:

  • private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plain text

  • immune to computer viruses that steal from software wallets

  • can be used securely and interactively, as opposed to a paper wallet which must be imported to software at some point

  • much of the time, the software is open source, allowing a user to validate the entire operation of the device

 

If you want further security you could consider using a Brain Wallet

You might ask why I am providing this information and researching Cryptocurrency, It is because I am involved with the ICO of a new Cryptocoin.

David Ogden
MyCryptoWorld

Alan Zibluk Markethive Founding Member

Dear Clinton supporters: Recall wont matter

Dear Clinton supporters: Recall wont matter

News that Green Party presidential candidate Jill Stein has requested a recount in Wisconsin, and will likely do the same in Michigan and Pennsylvania, has raised faint hopes among Hillary Clinton supporters that somehow Donald Trump will not become the next president of the United States.

Now that Clinton's campaign has said it will participate in the recount efforts, those supporters' hopes have been lifted even higher.

To put the matter bluntly: They should give up that hope.

There is essentially zero chance that the recounts in Wisconsin, Michigan, and Pennsylvania will change Trump's lead, which number in the thousands, not hundreds, in all three states. Trump is winning Wisconsin by a little more than 27,000 votes; his lead in Michigan sits at around 11,000; and his lead in Pennsylvania is insurmountable at over 68,000.

This is not Florida 2000. On Election Night in 2000, George W. Bush held a 1,784 vote lead over Al Gore in Florida's election for president, representing just 0.031 percent of the 5.8 million votes cast in the state. After a recount — which the US Supreme Court halted by a 5-4 vote — Bush ultimately won Florida by 537 votes, securing the presidency. Yet even if the Court had allowed the recount to proceed, the margin would not have swung by much.

This is not Washington 2004, where a recount reversed the result, handing Democrat Christine Gregoire a 129-vote win over Republican Dino Rossi after he initially had a 261-vote lead on election night.

This is not Minnesota 2008, where a recount gave Democrat Al Franken a 225-vote win over Republican Norm Coleman, reversing Coleman's initial lead of 215 votes.

All of these recounts had one significant fact in common: the margin of victory was in the hundreds, not thousands. And the shifts in vote totals after the recounts were very small.

In the past 15 years, a statewide recount has reversed the winner from the election-night tally only three times — in the Washington 2004 governor's race (a 390-vote shift), the 2008 Minnesota US Senate race (a 440-vote shift), and a 2006 election in Vermont for Auditor of Accounts, which initially had a 137-vote margin on election night that changed to a 102-vote win for the other candidate after the recount (a 239-vote change).

FairVote, a nonpartisan organization that advocates for electoral reform, found that from 2000-2012 there were only 22 statewide recounts across the country, and the average shift in those recounts was just 0.026%.

But, a Clinton supporter might say, what if the machines were hacked? What if the election was actually rigged? It is an ironic sentiment given that Trump was the one claiming widespread election rigging before the election and Clinton supporters blasted Trump for refusing to say whether he would honor the results.

Irony aside, there is simply no evidence of election hacking, as Clinton's top lawyer, Marc Elias, himself conceded. Of course, now that Stein has begun the process, it is perfectly reasonable for Clinton and her lawyers to stay involved. But her supporters should not take that fact as a sign that the election is still in question.

Prolonging the campaign by seeking a recount breeds unwarranted doubt about the legitimacy of our elections — without any real evidence to back it up. Our democratic system relies on everyone accepting the result. That legitimacy suffers when mere speculation calls the result into question with little evidence of rigging and Electoral College vote totals that decisively determine a winner.

Moreover, all of this talk of recounts and election rigging obscures the more important fact about our elections: We impose too many obstacles on voters for no good reason. We need to work harder to eliminate onerous voting laws and make voting easier, not focus on long-shot recounts that provide only false hope. For instance, this recount effort does nothing to address issues surrounding Wisconsin's controversial voter ID statute, which improperly prevented some people from voting.

While Stein's futile recount effort should give no solace to Clinton supporters, there is a silver lining to the current debate: It might finally prompt Congress and state legislatures to devote greater resources to election technology.

We desperately need better voting equipment and stronger post-Election Day audits. Going into this election, experts warned about the woefully out-of-date equipment that most states use. Indeed, old machines — especially if they do not allow for a paper trail — raise the possibility, however small, of election hacking. Old machines can lead to long lines, lost votes, and other Election Day problems.

Updated voting technology can increase turnout by making voting easier. As just one example, Doña Ana County, New Mexico uses Voting Convenience Centers instead of precinct-based polling places, meaning that anyone in the county can vote at any of the 40 centers instead of having to go to their assigned home precinct. This makes it easier to vote near work or school and eliminates the possibility of having to vote via a provisional ballot — which could potentially not count — if a voter shows up at the wrong place.

This system shows that improved technology can both enhance the integrity of our election system — a standard Republican talking point — and also make voting more accessible to more people, thereby increasing the electorate — something Democrats usually strive to achieve.

The recounts in Wisconsin, Michigan, and Pennsylvania will do nothing to assuage the fears of Clinton supporters who recoil at the thought of a Trump presidency. But at a minimum, they should force politicians on all sides to re-examine how we run our elections.

Like it or not, Donald Trump will become our next president. Hopefully, when he runs for re-election in four years, we will have a stronger election system that makes voting easier, more convenient and accessible, less susceptible to manipulation, and more easily verifiable. That's the closest to a "win" that Clinton and her supporters can expect.

Reprinted From CNN

Thomas Prendergast
 

 

Alan Zibluk Markethive Founding Member

Are We Entering The Age of The Cryptocurrency

my cryptocurrencyAre We Entering The Age of The Cryptocurrency

 

I have started taking an interest in Cryptocurrency and the fact that it offers a number of advantages over paper based currencies. Unlike paper currencies, which Governments can print at will, Cryptocurrency is restricted which means that the value of these coins increases.

 

Take Bitcoin, the best known coin, launched in 2008 with a value in 2009 1 BTC = 0.0001 USD and is now currently at $725. Over the years there have been quite large fluctuations :-

  • June 2010 1 BTC = 0.07 USD

  • June 2011 1 BTC = 15 USD

  • June 2012 1 BTC = 7 USD

  • June 2013 1 BTC = 100 USD

  • June 2014 1 BTC = 600 USD

  • June 2015 1 BTC = 220 USD

  • June 2015 1 BTC = 750 USD

It is interesting to note anyone who has held Bitcoin since the early days has seen a great increase in his asset.. I first came across Bitcoin when I moved to Cyprus in 2013. the Banks shut for days and then restricted both withdrawals and deposit and many people started to use Bitcoin because the banks stole peoples savings. The security with Cryptocurrency protects your holdings and to some extent provides anonymity.

Theft and fraud risks can be quite high when holding Cryptocurrency in online wallets or exchanges and it is recommended that is is best to use mobile wallets or even record you account details on paper. I still have to come to terms with using mobile data and until I learn how to use scan and use QR codes. Individuals cryptocurrencies are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.

One of my pet hates is transaction fees from bank and this is where cryptocurrency comes into its own There aren’t usually transaction fees for cryptocurrency exchanges . Even though there’s no bitcoin/cryptocurrency transaction fee, many expect that most users will engage a third-party service, such as Coinbase, creating and maintaining their bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees

Identity theft isa growing concern for example. If you give your credit card to a merchant, you give him or her access to your full credit line, even if the transaction is for a small amount. Credit cards operate on a “pull” basis, where the store initiates the payment and pulls the designated amount from your account. Cryptocurrency uses a “push” mechanism that allows the cryptocurrency holder to send exactly what you wants to the merchant or recipient with no other information.

Decentralization means the network operates on a user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes possible are just beginning to be investigated.

Since cryptocurrency is not bound by the exchange rates, interest rates, transactions charges or other charges of any country; therefore it can be used at an international level without experiencing any problems. This, in turn, saves lots of time as well as money on the part of any business which is otherwise spent in transferring money from one country to the other. Cryptocurrency operates at the universal level and hence makes transactions quite easy. There is no other electronic cash system in which your account isn’t owned by someone else.

David Ogden

http://information.cryptocoin20.com

Alan Zibluk Markethive Founding Member

Money Saving Tips

Money Saving Tips

Since my seasonal job is coming to an end I am taking stock of my financial situation and looking for way to reduce my spending. During the past year I have been teaching my wife how to control how she spends the income from her own part time job.

I used to use Quicken but when I changed my operating system to Linux, I was forced to change to Moneydance, both system are fairly similar and provide ways to control budgets and track expenditure by categories. I am generally responsible for all general bills including my car costs, with my wife responsible for her sons expenditure plus supporting her family in the Philippines and her car costs. We both are responsible for saving.

We have a mixture of Joint accounts, a business account and our own savings accounts. This year I opened a number of additional accounts to cover house insurance, car insurance, road tax and property tax in the Philippines. The additional saving accounts provide a way of saving money , rather than paying the services on a monthly basis with includes interest ,we renew on a yearly basis which saves us money for those accounts which do not allow interest free monthly payment.

I have even set up a number of automated bank transfers which distribute our income a couple of days after it is received into our various saving account, they only earn a few pence in interest but the bigger saving is being in a position in future years to pay upfront and not pay interest. With interest rates expected to rise next year, this will save you money.

I have been analysing my business costs which involve purchasing products in $’s and selling in £’s with exchange rates fluctuating due to Brexit and Trump. If I use my UK debit card to purchase products I am faced with an additional charge of £11-12 and an exchange rate that favours the bank.

However if I use the services of Transferwise who I have used for many years to send money to the Philippines the exchange rate cost are more reasonable . For example they would charge £2.28 and a competitive exchange rate saving me about £10 in every transaction.

Now I do operate an account in the USA, which also has a $ debit card, if I do not charge $250 a month to my card the bank will charge me $16 per month as account charges. Now you can perhaps see that with a combination of using my US debit card to purchase products and transferring funds to my USA account I can save £10 + $16 (12.9) or around £22-32 per month.

One other way to earn money we earn money is with a Tesco Club card, collecting points when buying petrol, food, household items and other items online with Tesco direct. We earn £15-20 per month in cash back as well as additional points and offers.

Saving rates are at an all time low at the moment and to be honest its hardly worth leaving it in the bank, which is why I am using some of my savings and pumping it through my business to provide a better return, with the changes I am putting in place from above, my profits are set to grow faster.

David Ogden is an Entrepreneur at MarketHive

 

Alan Zibluk Markethive Founding Member

Building A business

There is a link between building a business and losing weight.. I wrote a blog yesterday about how effective is your plan, and realised that people starting a business and those attempting to lose weight faced some similar challenges. Namely discipline, action and goal setting.

Now goal setting is pretty obvious and was covered in yesterdays blog. Once you have set up goals then you need to take action and follow a plan, without action, you cannot expect success and your plan will failures

Taking the first step is probably the hardest, but once that is behind you, you need to be disciplined enough to set up a routine. Getting into a regular routine makes things much easier, be it writing a blog, contacting people or remembering to follow your diet plan.

I am a morning person so like to get up around 0500 and in fact my body clock wakes me up at this time, no matter what time I go to bed. For me this is a good time, before the rest of the family get up I have time to check email accounts, my calendar and financial accounts and carry out tasks such as drafting blogs. I am at the moment in a state of change as my summer job is coming to an end and I will be concentrating on building my online business.

Change can be difficult and I know I face challenges until I can settle into a new routine and there is always the temptation to step back into your old ways, which will result in failure. I find that using Google Calendar as a tool, it will send me reminders about when I need to publish blogs or contact people and this has become a vital tool to help me get back on track.

When I was last working online full time I set aside half my day for business from 0500 to midday, during this time I worked in my own office space upstairs and the family knew not to interrupt me. This worked well for me and I was able to publish blogs on a daily basis and keep in regular contact with potential customers. Now my circumstances are slightly different, I live in a smaller house and my office consists of a desk in a corner of a dining room in the centre of our house which is a thoroughfare for my family, which makes it harder to concentrate with the job in hand. The only saving grace is my wife works part time shifts and my son is at school , so I can still work weekday mornings between 0730 to midday.

The secret of building a business or losing weight is to take action on a daily basis, which takes you towards your goal

David Ogden
Healthy Weight Loss
Free Marketing Tools

Alan Zibluk Markethive Founding Member

Are your Savings Gathering Dust

Make Money GrowThis is the age of the entrepreneur. Entrepreneurs are people who have a dream and are prepared calculated risks to achieve their goals. Interest rates are at an all time low, which makes it a great time to borrow money, however spare a thought for savers, some of whom rely on their saving and try to live on the interest.

I have been looking around on the internet for the best savings rates and the best I can find is 10% per annum, with others around 3-7%, but saver rates are continuing to fall

 

The average UK adult has about £5,500 – 6,000 in saving to meet rainy day, so you can see that even with the best savings rate their saving will only produce an income of £500- 600 per year

If you borrow money you will see offers of interest rates of between 3.1-3.5% APR which on paper could mean that you could borrow money at 3.1% and place it in a saving account at 10% and earn just under 7%. However when you apply for one of these low APR loans the APR Jumps to around 22% if for example you wanted to borrow £1000 for a year. It is only larger sums over longer periods that offer low APR rates and the lender may need more security.

I have been tracking one of my own savings account and seeing interest payments of £1 per month coming in which is not very impressive and wondered if there way another way to use my saving and improve my rate of return.

Entrepreneurs are known for Buying low and selling high and then a friend of mine introduced me to Valentus an MLM company which sells Weight Loss Coffee. MLM’s have a bad reputation for selling over priced products and encouraging you to sell them on to friends and family.

I have lost money with MLM in the past, leaving me with product that I had to sell at a loss. The weight loss coffee is different and you can sell it online and earn a profit. I decided to test the market and used money from my savings and brought 16 boxes of coffee and was some what amazed when they sold online in the first month.

MLM companies offer a number of ways of earning money apart from selling products, although I believe customers are more important. There are additional rewards for introducing like minded people and that is the stage I have now come to. I am reaching out to duplicate my success with other people who want to see their money working for them and producing a return.

No matter your past experience, I am willing to work with you and help you build your future,

just go to Http://seriouswealth.net

I will be in touch with you

David Ogden
Helping People Help Themselves 

 

 

Alan Zibluk Markethive Founding Member

The Rise Of the Entrepeneur

 

 

 

The Age of the Entrepreneur Is truly Here

 

America has spoken and elected a non political businessman to lead their country, this could have great repercussions around the world. As Donald Trump said in his victory speech, “No dream is too big”

Running a country is a big business so it will be interesting to see just how things work out. I am sure we will see many changes, now that Republicans rule the roost at all level of Government, which will allow changes to be made with little opposition.

The UK is also facing changes and it will be interesting to see what changes might occur in the so called special relationship, as both countries set out to build new relationship with countries around the world.

Entrepreneurs are known for their tenacity and this has been proved over the past 18 months when Donald Trump has come from nowhere to become President elect of the USA.

 

Any dreams can be accomplished, if you are prepared to put in the effort and work every day towards achieving your goal. Donald Trump admitted it had been a long hard and sometimes tiring campaign but he kept his faith and concentration when others had doubt.

As this year is coming towards and end and a new dawn is coming it time for everyone to review their hopes and dreams. Do you have a dream to to improve your financial situation, then now is the time to act.

Watch the Video Below

 

Alan Zibluk Markethive Founding Member

A Busy Day with My Son

A busy day with my Son.

Yesterday was expected to be decision day for my son, regarding impending Surgery, to deal with his brain tumour. Having a consultant based in London when you live in Manchester adds to the challenge. So I arranged to pick him up and travel with him by car to London.

I set off home in Bolsover just before 0700, with an estimated journey time to Manchester of two hours. I had allowed extra time due to possible ice conditions passing over the Pennines. Weather was not however a problem but Monday morning traffic heading to Manchester was with Long queue, so the journey extended to two and half hours.

I picked up Stephane and after a couple of false starts getting orientated with the GPS on my phone we were heading South. My plan was to travel down the M6 and then turn off onto the A50 and join the M1, however, however when Stephane was checking his phone is showed two blockages on the route. Then Traffic news confirmed the Junction off the M6 was closed, so we reverted to plan B and took the M6 Toll road. We needed to catch the 1407 train at Milton Keynes to travel into London. News then came in to say that trains between Milton Keynes and London were being delayed for 30 minutes due to an Accident in the morning.

We started to panic as we had a tight schedule and did not expect delays. By this time we knew we would arrive at Milton Keynes park and ride, early so decided to get top the rail station as fast as possible, so that if trains were still be delayed we could catch an Earlier one, but we would need to buy new tickets.

As things turned out our planned train was due to arrive on time. So panic over. Once again we got a little lost orientating our selves but finally arrived in good time at the Neurological hospital. We had to wait some 30 minutes for Stephan’s consultant to see us. The Consultant showed us Stephane’s previous MRI scans and explained that the tumour was touching his brain stem and there is a high risk of further damaging the optic nerve. I would seem that Proton therapy is not an option at the moment wlist the tumour is so close to brain stem as it would damage the brain stem.

The consultant asked Stephane if he was ready to commit to surgery Stephane replied by saying that his sight was very important and he would only risk damaging his sight if it was necessary. The Consultant examined his eyes and made notes about his existing restricted fields of vision. We had some discussions and it became apparent that another MRI scan would be needed to see if there had been any change with the tumour, If the tumour is not growing it may be possible to delay operating and instead try radio therapy as an option. If the tumour is growing them probably an operation would be required earlier.

Unlike Stephane’s previous consultant, his new one is prepared to operate, but warned that he needs to see what kind of tissue the tumour is made up from and this can only be discovered by an exploratory procedure which may result it in one of two outcomes, backing out of the procedure to avoid further damage or completion which might open the door for future proton therapy..

Whilst we we there, he arranged a blood test and we tried to see is the MRI machine was available later in the evening, as it was not, we turned to plan B and are arranging an MRI Scan in the coming weeks to be completed in the morning with a consultation later in the day to plan the way ahead,

The slow progress is a little disappointing and will mean another trip to London before matters can be resolved. We left London during the rush hour by train and were concerned about the amount of traffic leaving Milton Keynes, however as it turns out little was going North so it took some one and half hours to drive home to Bolsover.

We had been on the move all day apart from grabbing a Subway sandwich at the station and so we went out for an evening meal and a pint at 2100 hour.

Stephane stayed overnight and I drove him home this morning and we are now awaiting an update from the Hospital

 

 

Alan Zibluk Markethive Founding Member

UK halts Facebook’s WhatsApp data dip

Facebook has been told it must not use data gathered from UK members of its WhatsApp messaging app to target ads on its core social network.

facebook and whatsapp data privacy

The country's Information Commissioner said she did not believe the firm had obtained valid consent for the move and added that people must be given "ongoing control" over their data.

Elizabeth Denham said that Facebook had agreed to "pause" its rollout but had not met all her demands.

Facebook has yet to publicly comment.

The California-based company bought WhatsApp in 2014 and pledged to keep the chat app independent.

However, in August, WhatsApp made changes to its privacy policy, prompting an investigation by the UK watchdog.

"I had concerns that consumers weren't being properly protected, and it's fair to say the enquiries my team have made haven't changed that view," blogged Elizabeth Denham, the Information Commissioner.

"I don't think WhatsApp has got valid consent from users to share the information.

"We've set out the law clearly to Facebook, and we're pleased that they've agreed to pause using data from UK WhatsApp users for advertisements or product improvement purposes."

Enforcement

Ms Denham said she now wanted Facebook and WhatsApp to:

  • offer customers' more details about how their data will be used
  • let WhatsApp members restrict access to their information beyond the existing 30-day cooling-off period
  • let users completely opt-out of the agreement at any time

Ms Denham said that Facebook had not agreed to these terms.

"If Facebook starts using the data without valid consent, they may face enforcement action from my office," she warned.

WhatsApp has already been cautioned warned by European privacy watchdogs about sharing user data with its new parent company. 

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Stephen Hodgkiss
Chief Engineer at MarketHive

markethive.com


Alan Zibluk Markethive Founding Member

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