Category Archives: Wallets

The Dood Interviews Allan Raicher of Coinsyde

Coinsyde screenshot

Screen shot taken from website. coinsy.de

One of the great things about being The Dood, is that I get to meet all kinds of great people in the cryptocurrency space. Recently, I had the pleasure of meeting Allan Raicher of the Coinsyde project. After checking out his website and talking a bit on twitter he agreed to give me a little info about what him and his team are working on. He is limited on what he can talk about before the release, but the website, and our twitter conversation did peak The Dood’s interest. Thank you Allan Raicher for taking the time to answer my questions and sharing your time with me and my readers.

BitcoinDood: First, thanks for taking the time to do this interview. I have to admit, I found this interview a bit difficult to put together. I know you are limited on what you can reveal about the company before launch and I completely understand that. I also found it kind of fun, because there currently is a little mystery about the project and what the project will be trying to accomplish in the not so distant future. So, I guess based on that, could you please tell the readers who you are, and what your relationship is to the coinsy.de project.

Allan Raicher: Hello, Dood! My name is Allan Raicher. I’m a Brazilian tech entrepreneur, currently investing in some projects in Silicon Valley. I’ve been a Bitcoin enthusiast from the beginning and have decided, recently, to become more than an enthusiast. So, I became the founder of Coinsyde. My plan is to remodel the Bitcoin scene by providing something like a “centralization of the decentralization”, so to speak.

BD: I love the clean look and design of your website. Currently there’s not a lot of information there other than the company logo that reads Coinsyde – The Bitcoin Social Network. I’m guessing from the logo, you are planning a social network, without giving away any company secrets could you elaborate more on the project, and what we might expect?

As of late, revenue sharing social sites like Tsu, steemit, and bitlanders have become all the rage. Bitcoin seems to be the perfect fit for that type of a platform. Will the site be incorporating any type of revenue share for it’s users? If so, please tell us all you can ๐Ÿ™‚

A.R: Well… money already IS a Social Network, if you think about it. It provides a medium for interaction between individuals. Only thing is… there’s a place for this interaction to take place. It’s called “The Marketplace”. The lack of a unified marketplace, or an identifiable environment for bitcoin users (mainly because of Bitcoin’s intangibility as a currency and as a concept) is detrimental to the slow adoption we’ve seen so far. That’s where we want to act. If you think about it, Bitcoin has a huge Marketing problem.

BD: Your website makes the bold statement, “Together, we’ll make Bitcoin become mainstream! Launching soon!”

I love that statement. So many people are waiting for the perfect app that catapults cryptocurrency into the mainstream. Many people say bitcoin is the app, but I’m of the belief that bitcoin is the protocol. Like SMTP is the mail protocol for the internet, at one time sending an email wasn’t as simple as using a Gmail account. Especially if you go back 20 odd years ago when people used programs like Pine to send email from a command line. It was easy for a nerdy tech type but the average person found it daunting and intimidating to use. I think bitcoin is kind of the same way right now. In the early days of the internet, companies like AOL and COMPUSERVE made the internet easy for the average person to utilize all the features the internet had to offer, and then Facebook and Google came along and made it almost foolproof. I think bitcoin is still waiting for that killer, foolproof app or platform that makes it extremely easy for my 80 year old grandmother to send birthday money to my cousins on the other side of the country. Is this what we’re talking about? Are we talking about the perfect app or platform here? Please tell us as much as you can!

A.R: I agree that even the cleanest wallet designs can’t be understood by a total newbie. But the mass adoption problem is not necessarily a “usability” problem. People can adapt pretty easily to the most complex app structures. Facebook is a perfect example. We had to learn how to use it. My 85 year old grandmother uses it every day ๐Ÿ˜‰

I’ve been obsessed with this idea of a “killer app” since my first interactions with bitcoin. People usually talk about this “killer app” like something abstract. It’s not! I have the same belief: Bitcoin is the protocol. We need to create the marketplace by connecting it’s users. THAT’S the killer app: a useful and popular medium to use Bitcoin, connecting it’s users with a beautiful design.

Some say “bitcoin is like a Swiss bank in your pocket”. IT IS! But the world today is filled with “bankers” that don’t interact with other “bankers”. That’s not powerful at all! Why don’t we connect EVERYONE and provide financial social power to the world? No bank can compete with this.

BD: Your twitter page says that the launch date will be 2016. We’re halfway through the year now, leaving a little under 6 months left. Can you narrow down the time line and give us an idea of when the network will be available to use? (On a side note, if your looking for beta testers feel free to contact The Dood ๐Ÿ™‚

A.R: Probably October. I think it’s doable, since we are already refining the app. Thing is: we’ll need a LOT of word of mouth till October! Our business is actually a campaign for Bitcoin! Can you imagine how valuable Bitcoin would get if everybody could simply connect? ๐Ÿ˜€

BD: Currently, Google + and Facebook are the big boys on the block when it comes to social networking. Will the site be in direct competition with these behemoths? I’d also love to hear about any features the site will offer as far as posting, file sharing, chat, messaging, or any information you can divulge about the platform itself

A.R: We don’t want to navigate this red ocean. Since Facebook and other players already connect people with similar interests, we plan to use their platforms to help us reach our base. We’ll be connected. But we don’t plan to compete with them.

BD: Your website shows both Android and iPhone apps coming soon. Is the platform geared mainly towards mobile users, or will it be web browser accessible too?

A.R: We’ll start with mobile, and we’ll add more environments as time goes, of course.

BD:Here’s the question I’ve been dying to ask. Are we talking bitcoin wallet integration directly into the platform?

A.R: Yes. We’ll start with a great (and safe) wallet (and hopefully, the most beautiful and user friendly) as an app. Once we reach our first milestones (user base), we’ll start to introduce several interaction possibilities between peers or even between groups of individuals (I’m sorry I can’t give you more details just now! Sorry, sorry sorry!).

BD: The site seems geared mainly for bitcoin users are there any plans to integrate other cryptocurrencies into the platform? If so which ones ?

A.R: Definitely! Ethereum and Litecoin are serious candidates.

BD:OK, I ask everyone the same last question. Where do you see cryptocurrency going in the future? Any thoughts, visions, or predictions you might want to share about the future of cryptocurrency in general and where this is all heading?

A.R: To the Moon? haha. Well, as an entrepreneur, I try to think how can I provide the world with solutions to their problems. As an ideologist, I see Bitcoin (and public blockchains) as the BEST alternative to a jurassic financial system. The quality of financial inclusion and prosperity that Blockchain technology can unleash is simply unbeatable. Banks made a lot of sense during the 19th and 20th centuries. They don’t make sense anymore. I believe we can achieve a radical improvement in well-being by shifting the financial powers to the crowd. We use a golden “=” as our icon, to symbolize our moto: “CAPITALISM for ALL”.

Thank you so much Allan Raicher of Coinsyde! I’m really curious to see what you guys unveil in October. I hope you keep The Dood up to date, and give me another interview when the project is released to the public.

You can follow and keep up to date with the Coinsyde team using the below links

Upgrading The ROKOS OKcash Wallet

So that time finally arrived. It was time to update my OKcash wallet for my ROKOS Raspberry Pi. For those that don’t know, ROKOS is a Linux based operating system and if you’re not used to working with Linux it can be a bit daunting. I’m happy to report that my OKcash wallet upgrade Ver 3 to Ver 4.0.0. was smooth and painless. If I can do it, anyone can!

Old OKcash wallet

OKcash Version 3 wallet

The Dood’s a bit paranoid when it comes to updates and upgrades, so for safety reasons I transferred all my coins to a different wallet.ย  Once I knew all my coins were safe I closed my Ver 3 wallet and did a quick update of ROKOS flavors. From the command line just type :

sudo apt-get update

Once I made sure everything was updated, I then did a quick upgrade. Again, from the command line just type:

sudo apt-get upgrade

When everything was updated and upgraded I did a quick reboot just to make sure everything was working OK and the updates and upgrades were working alright.

Now I downloaded the wallet upgrade zip file on my laptop and put the zip file on a USB drive. You don’t have to do that and you can download right to your PI if you want. I downloaded the files from here.

github.com…

You want to download this file Okcash_4.0.0.0_raspberrypi.zip

Once you download the file, go to your downloads folder and extract the zip file. All you do is double click the zip file and ROKOS will open Xarchiver to extract the files. It doesn’t really matter where you extract the files. By default they’ll extract to whatever folder you’re currently in. I extracted the files to

/home/pi/OK-update

Xarchiver extracting the OKcash wallet files.

Double click on the file and Xarchiver will open and extract the files for you.

Once your files are extracted you want to open a terminal window and cd to the folder with the extracted files.ย  /OK-update is the folder I extracted to, you want to cd to wherever you extracted your files ex: cd /YourFolderNameHere

cd /OK-update

I then followed the instructions found here.ย  Here’s the commands I used.

sudo chmod 755 okcash

sudo chmod 755 okcashd

sudo cp okcash /usr/local/bin/

sudo cp okcashd /usr/local/bin/

Once I finished, I again rebooted my Pi. Upon reboot I opened the wallet. It took a couple minutes to open this time. Once the wallet opened it only took a couple more minutes for the blockchain to sync and it was ready to receive OKcash.

New OKcash wallet version 4.0.0

OKcash wallet version 4.0.0 Updated and upgraded, and ready to stake.

I sent a test of about 10 OKcash. Once I knew it was working properly I transferred the rest of the balance. Now time to get staking!

Final comments:

For the most part this was quick and painless. I’m really happy with the new wallet so far. I was hoping with the updated version the issue with showing the balances would be fixed, but this is still a small inconvenience. To see your coin balance you still have to go into coin control to see the balance. Outside of that the wallet seems to be working great. Props to Oktoshi and the ROKOS team for another job well done! Can’t wait to get the new Pi3 or PIne64 and try out ROKOS v6 Magic Flavors!

And The Winner Is….

I entered a contest on twitter last month hosted by The Merkle. It was for a chance to winย  a Ledger Wallet. In real life I rarely enter contests, but for some reason I always do the RT contests on twitter. The ones where they ask you to follow and retweet a link for a chance to win something.

So I enter this contest and I swear to God; “The Dood” thinks to himself; ‘ You enter a ton of these, and never win anything. Probably fixed!” I kid you not, that was my exact thought as I hit the retweet button. A few days later I’m going through my twitter private messages and come across a message from “The Merkle” stating that I won the contest. YaY me!!! Triple exclamation marks because I’m super excited. So I can tell you now, these contests are real, or at least The Merkle abides!

PM notifying the dood of his winnings.

The PM on twitter notifying me of my winnings! Address changed.

So a few weeks later a priority mail box shows up in The Dood’s mailbox, and The Merkle sent The Dood some Bitcoin socks, a Bitcoin coin from runbitcoinrun.com… and … Drum roll please… A new Ledger Wallet! How fricken cool is that? Shouts out to The Merkle ,ย  now The Dood’s favorite place for bitcoin and fintech news! Here’s an image of the great prizes I won.

Merkle Prizes.

Many thanks to The Merkle for these really great prizes.

So the bitcoin socks are only for special occasions, I’ll probably rub the finish off the gold plated bitcoin coin as I watch the markets going up and down, and I can’t wait to find some time to setup the Ledger Wallet. I’ll be doing that sometime this week.

In the next couple weeks we can expect a review of the Ledger Wallet. Again I’d like to thank the great folks over at The Merkle for the awesome prizes! The Dood really appreciates it.

Check out The Merkle for all the latest bitcoin and fintech news.
themerkle.com…

Follow The Merkle on Twitter
@themerklenews

For information on the gold plated Bitcoin coin checkout:
runbitcoinrun.com…

I have no information on the bitcoin socks, but if I find out anything I’ll post a link here.

 

Back Dat Wallet Up!

Back dat up.

Back Dat Shit Up Holmes!

Sometimes The Dood has to learn things the hard way. For some of us, it’s the only way a lesson really sticks. I always preach the importance of backing up your wallet, and also tell the sermon of making a backup for each new address, but sometimes you just don’t heed your own advice.

Case and point. The Dood recently suffered a hard drive crash on his linux system and had to do a hard reboot that corrupted the file system. No big deal I had most everything backed up including my cryptocurrency wallets. Only I just transferred 20,000 reddcoin from another exchange to my computer and used a new wallet address. I’m going to say this loudly, YOU NEED TO BACKUP EVERY TIME YOU CREATE A NEW WALLET ADDRESS!

Now usually I’m really good about this. I mean Reddcoin couldn’t make it much easier for you. Using the QT wallet on my linux machine, you just click File, Backup Wallet and the Reddcoin wallet gives you a .dat file to save. Doesn’t get much simpler than that now does it? You then upload the dat file to a cloud drive (maybe not the best idea for security reasons,) or transfer over to a thumb drive (a better idea, but make multiple copies and put on multiple drives in case of drive failure on the thumb drive.) Easy enough!

So here’s what happened. A while back I buy 20,000 Reddcoin on bittrex at 8 satoshi each. I’m speculating that the market will return to 10 satoshi and I’ll sell 16000 Reddcoin, and I’ll end up making 4000 reddcoin to stake in my wallet for close to free. The market goes down further and I realize that it may not return to 10 satoshi for some time,ย  so I decide to transfer the full 20000 reddcoin to my wallet and stake them all till the price returns to 10 satoshi. I create a new wallet address and I label the address “Sell 16K At 10” or something like that and send the coin to that address. After I do it, I think maybe I’m better off just clearing the wallet out, sending all the coin to my electrum wallet on my phone, and then redeposit it in one lump sum for stronger staking weight. Yeah, that’s what I’ll do. I’ll do that tonight after dinner. No need to make a backup for the new wallet address. What could possibly go wrong? LOL Famous last words of the foolhardy.

Murphy’s Law, comes back and bites The Dood in the ass! So after dinner, I have a computer issue, end up corrupting the file system in my home partition, and can’t get my computer to boot. Luckily 20,000 reddcoin is only about 80 cents USD no big deal, but to make a long story just a little longer, I had the backup for the original wallet.dat with my main stake. I ended up losing the 20,000 reddcoin because I didn’t make a new wallet.dat with the new address. Learning things the hard way is sometimes the best way. It could of been worse, and chances are if it had been 50 or 100 dollars of reddcoin I’d of been a little more cautious.

Anyway, don’t make this nOOb mistake. If you add an address to your wallet, back up that dat file so you have the new address. YOU NEED TO DO THIS EVERY TIME YOU ADD AN ADDRESS TO YOUR WALLET!

Creating A Blockchain.info Wallet

A quick video I did on setting up a simple blockchain.info… wallet. This is a nice simple wallet to use and also gives you access to your bitcoin online. This wallet is great for people just starting out that might want a really easy wallet to use and set up. It’s also great for people who would like to have a little bitcoin handy online at all times. I’ve used one of these for close to two years now and I wouldn’t store my life savings here, but it’s perfect for having a few dollars of play around bitcoin available online whenever you need it.

If you were storing a large investment in bitcoin, you might want to look into a hardware wallet or even a cold storage paper wallet. I’ll post more on those in a future video.

Find this info useful: 1MDfoP9X3CYD7mNgCMjLn4m5ANdJmNX4is