Bitcoin Wallet Address: Understanding BTC Wallet vs Address

Bitcoin Private

A subreddit to discuss Bitcoin Private. Like Bitcoin, but Private.
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BTC Tips for Fantasy Football Advice

Feel bad after writing out a three paragraphs of analysis just to have it downvoted? Posted a WDIS/TRADE/RMT post that was deleted and buried? Grab some bitcoins and post here for informed answers! The idea is to tip for quality answers and offer a bounty for analysis. There is no requirement to tip. Please use [WDIS] [TRADE] [RMT] [COMMISH] tags. **Put your btc address in your flair.** Thanks and welcome!
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Bitcoin Cash: Peer-to-Peer Electronic Cash (BCH)

Bitcoin Cash (BCH) brings sound money to the world. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. All Bitcoin holders as of block 478558 are now owners of Bitcoin Cash. All Bitcoiners are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.
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So I get a fairly constant stream of people who send me messages about situations where they have sent Bitcoin to a BCH address and don't know what to do. Fortunately, recovery in this situation is straight forward and can be done directly with your hardware wallet.

So I get a fairly constant stream of people who send me messages about situations where they have sent Bitcoin to a BCH address and don't know what to do. Fortunately, recovery in this situation is straight forward and can be done directly with your hardware wallet. submitted by Crypto-Guide to Bitcoin [link] [comments]

So I get a fairly constant stream of people who send me messages about situations where they have done things like sent Litecoin to a Bitcoin Segwit address and don't know what to do. Fortunately, recovery in this situation is straight forward and can be done directly with your hardware wallet.

So I get a fairly constant stream of people who send me messages about situations where they have done things like sent Litecoin to a Bitcoin Segwit address and don't know what to do. Fortunately, recovery in this situation is straight forward and can be done directly with your hardware wallet. submitted by Crypto-Guide to CryptoCurrency [link] [comments]

What's the worst thing that can be done to a would-be scammer/blackmailer if all you really have is the bitcoin wallet address they provided for payment?

submitted by AnGabhaDubh to AskReddit [link] [comments]

For Beginners: Vanity addresses. Explaining what vanity addresses are and how you can set up your own address

For Beginners: Vanity addresses. Explaining what vanity addresses are and how you can set up your own address

https://preview.redd.it/16hk9v71y1v11.png?width=2970&format=png&auto=webp&s=aea305e2f81d5280de5c24680af6b93cd09e1486
When accessing or setting up your own Bitcoin wallet, you may notice that it just ends up being a bunch of numbers and letters that have no relevance to you or anything involved with you. What if you had the ability, though, to personalize that Bitcoin address so that it wasn’t just another random string of numbers and letter? Well, that’s exactly what vanity addresses are used for, giving you the opportunity to create a Bitcoin wallet which contains certain starting letters that spell out words like your name or brand. Let’s discuss these vanity addresses some more and learn how you can make your own personalized address.
This is not financial investment advice. This article will explain what vanity addresses are and how you can make your own.

Terminology

Bitcoin Wallet: A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and gives ownership of the Bitcoin balance to the user.
Wallet Address: A Bitcoin wallet address is similar to a bank account number. It’s a unique 26-35 digit combination of letters and numbers and it looks something like this: 1ExAmpLe0FaBiTco1NADr3sSV5tsGaMF6hd
You can share your Bitcoin wallet address with others. With this, they will be able to send you Bitcoin.
Public Key: A cryptographic code that allows a user to receive cryptocurrencies into his or her account. The public key coupled with the private key are significant tools required to ensure the security of the crypto economy.

Familiarize yourself with these key terms in order to better understand how vanity addresses work.

What’s A Vanity Address?

To put simply, a vanity address is a Bitcoin address with certain starting letters that spell out words such as your name or your brand. This can make your own wallet stand out when receiving or sending Bitcoin, as it can tie in your name or any other word you might want as part of your Bitcoin wallet address. Think of your wallet address as your bank number which you give or show to people so that they can send you cryptocurrencies.
Currently, most - if not all - Bitcoin addresses are just made up of random numbers and letters. Getting a vanity address will definitely make you stand out and give your wallet a unique aspect. Here’s an example of what a basic vanity address would look like:

1googLemzFVj8ALj6mfBsbifRoD4miY36v

A vanity address is essentially a personalized bitcoin address. Most - if not all - Bitcoin wallet addresses are just a string of random letters and numbers, so getting a vanity address gives your wallet a unique aspect.

How Can I Make My Own?

There are two methods to create your own vanity address. The first way is to do it yourself, which is probably the most secure way as nobody can see the private key and public key pair. This does involve knowing a little bit of computing and downloading the correct software. You can then choose how much of your processing power you wish to dedicate to the process, but be aware that dedicating a large proportion of your CPU can make the program crash.
The other method - which might not be as secure - is to go onto a pool such as bitcoinvanitygen.com where you can outsource the work to Bitcoin vanity address miners. These miners dedicate their CPU & GPU power to finding the address you want and send it to you either via email or in the post (if you are paying for it). Although this is a quick process, there is the risk that miners could hold onto the private key that generated the address and use it at some point in the future to hack your funds and steal the millions your vanity address has stored in it.

To get a vanity address you can either make you own, which is the most secure way, or outsource it to vanity address miners.

Conclusion

When the world of cryptocurrency begins to get a bit boring, vanity addresses introduce a unique and even creative aspect to the process of sending and receiving cryptocurrencies. If you ever want to spice things up or make your address stand out, you can always get a vanity address to do so. Although it does take a significant amount of computing power, generating these addresses can make your overall experience much more personalized and allow you to stand out among other wallets.
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Have you made a vanity address before? Let us know why in the comments!
submitted by CoinBundle to u/CoinBundle [link] [comments]

Can someone in this group do a simple explanation of wallets & what the prefixes mean? For example: this is one of my Bitcoin addresses-- 19KKcqaJvGFKHC8KJiaHr7m6n1w6E4TZT5 so how on my Nano S do I update to Sedwic... Or do I even need to? Some on this group are saying the Sedwic address is better?

submitted by apharmtech to Bitcoin [link] [comments]

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /r/Bitcoin

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /Bitcoin submitted by cryptoanalyticabot to cryptoall [link] [comments]

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /r/Bitcoin

I tried to bump a transaction time using CPFP in the Mycelium app, and now half of the balance on my wallet is being transferred to another address. What is going on? Did i just make an expensive mistake? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

What will happen if I recover my funds with Electrum wallet from only one private key (not seed)? Exactly, Q1: How can I get my change address and my private key to this change address? Q2: Is there such a "BIP" to derive the whole needed tree structure from one private key? /r/Bitcoin

What will happen if I recover my funds with Electrum wallet from only one private key (not seed)? Exactly, Q1: How can I get my change address and my private key to this change address? Q2: Is there such a submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Hey everyone, I’ve got a bunch of bitcoin in a wallet from back in 2013 but I’ve deleted all of my wallet apps since and now only remembered about them now is the last transaction id that I sent to the wallet as well as the bitcoin address number what can I do to find out which wallet I used

submitted by Lordspitemedown to Bitcoin [link] [comments]

Can someone in this group do a simple explanation of wallets & what the prefixes mean? For example: this is one of my Bitcoin addresses-- 19KKcqaJvGFKHC8KJiaHr7m6n1w6E4TZT5 so how on my Nano S do I update to Sedwic... Or do I even need to? Some on this group are saying the Sedwic address /r/Bitcoin

Can someone in this group do a simple explanation of wallets & what the prefixes mean? For example: this is one of my Bitcoin addresses-- 19KKcqaJvGFKHC8KJiaHr7m6n1w6E4TZT5 so how on my Nano S do I update to Sedwic... Or do I even need to? Some on this group are saying the Sedwic address /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

I have an old wallet.dat that I've loaded into bitcoin core - it shows a few small incoming transactions, and it's up to date with the network, but the balance is 0.00 and the incoming address shows not to have been used in blockchain.info. Any idea what that's about?

Best guess is that it's a wallet.dat from another coin - any way to determine which one?
Update: turns out it was a dogecoin wallet. So - bitcoin core loaded it and showed that there were some incoming BTC ... don't know why it loaded at all, but I know nobody has sent me several hundred thousand BTC.
submitted by kickasstimus to Bitcoin [link] [comments]

What is the difference between an xpub address, a HD wallet, and a BIP32 key? /r/Bitcoin

What is the difference between an xpub address, a HD wallet, and a BIP32 key? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Paper wallet as a tip in restaurants etc? what is the website address? /r/Bitcoin

Paper wallet as a tip in restaurants etc? what is the website address? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I have an old wallet.dat that I've loaded into bitcoin core - it shows a few small incoming transactions, and it's up to date with the network, but the balance is 0.00 and the incoming address shows not to have been used in blockchain.info. Any idea what that's about? /r/Bitcoin

I have an old wallet.dat that I've loaded into bitcoin core - it shows a few small incoming transactions, and it's up to date with the network, but the balance is 0.00 and the incoming address shows not to have been used in blockchain.info. Any idea what that's about? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Hey guys I'm new to bit coin, my question is what happens if I accidentally type in the wrong wallet address? Like not capitalize a letter or something? /r/Bitcoin

Hey guys I'm new to bit coin, my question is what happens if I accidentally type in the wrong wallet address? Like not capitalize a letter or something? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Restored a pre-fork wallet from backup post-fork, and sent coins to a new wallet. Blockchain shows coins move through multiple unfamiliar wallets (dated pre-fork) to the address of new one (dated post-fork)? What happened and is the BCC unrecoverable? /r/Bitcoin

Restored a pre-fork wallet from backup post-fork, and sent coins to a new wallet. Blockchain shows coins move through multiple unfamiliar wallets (dated pre-fork) to the address of new one (dated post-fork)? What happened and is the BCC unrecoverable? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Maybe a stupid question but....is it possible to identify who/what a btc address/wallet belongs to? /r/Bitcoin

Maybe a stupid question but....is it possible to identify who/what a btc address/wallet belongs to? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Is it safe to buy a cold storage wallet off eBay or elsewhere? What's to keep the seller from jotting down the addresses and accessing later? /r/Bitcoin

Is it safe to buy a cold storage wallet off eBay or elsewhere? What's to keep the seller from jotting down the addresses and accessing later? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What is an xpub address and how is it different from usual bitcoin addresses? I created a new wallet on blockchain.info and it works nothing like it used to. /r/Bitcoin

What is an xpub address and how is it different from usual bitcoin addresses? I created a new wallet on blockchain.info and it works nothing like it used to. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What is a good blockchain explorer for mobile devices? Or are there any wallets that allow looking up addresses? /r/Bitcoin

What is a good blockchain explorer for mobile devices? Or are there any wallets that allow looking up addresses? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Yay got my first Bitcoin Cash

Yay got my first Bitcoin Cash submitted by arldyalrdy to btc [link] [comments]

Proposal: The Sia Foundation

Vision Statement

A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong.
In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things.
What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do.
You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us.
At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming.
Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born.
Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized.
Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung.
The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance.
Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
 

Overview

Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.

Organizational Structure

The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community.
The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.

Funding

The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork.
As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks.
The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.

Responsibilities

The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.

Maintain and enhance core Sia software

Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest.
Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release.
Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer.
A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software.
With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code.
Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire.
Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above.
As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.

Support community services

We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours.
Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.

Ensure easy acquisition and storage of siacoins

Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.)
Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion.
Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants.
Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.

Protect the ecosystem

When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary.
The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU.
In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.

Drive adoption of Sia

Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers.
In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.

Fund Management

The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months.
On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well.
The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets.
Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses.
 
Addendum: Hardfork Timeline
We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
 
Addendum: Inflation specifics
The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
 

Conclusion

We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve.
Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
submitted by lukechampine to siacoin [link] [comments]

How to Locate your BlockChain Wallet Address - YouTube Where Is Cash App Bitcoin Wallet Address? 🔴 - YouTube What is a Bitcoin Address? How to find your Bitcoin wallet address on Luno.com - YouTube How to get a Bitcoin Wallet Address - FREE & in under a ...

Bitcoin wallet is an application that contains a collection of public (Bitcoin address) and private keys. As we explained; the public address is the key which you need to receive Bitcoins and private key is the data needed to spend Bitcoins associated with that public address. With the rapid rise in the number of bitcoin scams, there are easy ways to check if a bitcoin address has been reported as being used by scammers, such as in fake bitcoin giveaways. A Bitcoin wallet is a not a physical item but a software program for holding and trading Bitcoins. Wallets contain a private key for security. The key corresponds to the address of the wallet. A Bitcoin wallet address is a digital address, made up of letters and numbers, that you use for sending and receiving Bitcoin transactions. In just the same way that an email address is used to send and receive emails, a Bitcoin wallet address is the digital address from which you send and receive BTC. A wallet address, comprising a string of 26-35 alphanumeric characters, is all it takes to send and receive bitcoin. Any bitcoin address can be used to With multiple address formats to choose from ...

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How to Locate your BlockChain Wallet Address - YouTube

If you want to someone to send you money to your Bitcoin account, Give them this address. you may donate to our network via Bitcoin as well :) Bitcoin addres... It's very simple, this is why your Bitcoin Wallet address changes every time. Nothing to worry about. Use each and any of the generated addresses as you plea... If you want to know how to get your wallet address to either send money, receive or you simply just want to know its very simple and easy just watch the vide... If you want to find out more about the tools we have for cryptocurrency investors in our Masters area, see video here: https://moocharoo.ninja/bmm Also try: ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

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