Tag Archives: review

White Paper Review – VSYNC VSX

White Paper Review – VSYNC

Recently, I read the VSYNC / VSX white paper. This is a pretty interesting project and I thought I’d do a quick review of the white paper. I’m not going to re-write the white paper, just highlight a few of the interesting points. I will include a link to the white paper at the bottom of the page for further research and review.  Nothing here should be construed as financial advice, just sharing the info I discovered in my research.

VSYNC is a privacy centric POS cryptocurrency based on BitcoinCore 0.15 & Dash. It is proof of stake and utilizes PoSv3. It also offers a masternode system using 100,000 VSX as collateral.To insure fast transaction times VSYNC uses SwiftTX for zero confirmation transactions.

The currency is governed by the entire community and not just masternode owners. Every single VSX holder has the power to vote.

For users concerned with privacy VSYNC plans on implementing the ZeroCoin Protocol, I2P, and the Dandelion Protocol for anonymous payments between parties.

For scalability and transaction capacity the coin will utilize SegWit, Elastic Block Size, and Lightning Network. Implemented with SwiftTX this insures a scalable blockchain, with fast transaction times.

The coin also looks to implement atomic swaps on the network to allow other currencies to be traded and the implementation of smart contracts.

I’ve been following this project for awhile now, and I really like the direction this project is heading in. In the spirit of disclosure I do own a small bag and have been a long time hodler.

The purpose of this post was just to outline some of the features of VSYNC and what the devs are planning on working on in the future. I found the white paper to be well written, and informative. The roadmap is well defined and posted at the end of the white paper along with many references for research.

This is a basic review of the white paper. For more detailed information you can find the white paper at the link below hosted on the VSYNC website.

White Paper: https://vsync.pw/Vsync_Blockchain_WhitePaper_v1.pdf

Website: https://vsync.pw/

Coin Market Cap: https://coinmarketcap.com/currencies/vsync-vsx/


Review: Earn Bitcoin Using The File Army Image Hosting Service

I promise this isn’t turning into a video blog. It has been sometime since I’ve done a youtube video and I got bored the other day and decided to put one together. This is a really cool image hosting site I found, that pays you in bitcoin for using the image hosting service.

You can follow The Dood on File Army here: https://file.army/bitcoindood
Steemit: https://steemit.com/@the-bitcoin-dood/
Twitter: https://twitter.com/BitcoinDood
G+ : https://plus.google.com/u/0/+BitcoinDood
And now on Facebook 🙁 https://www.facebook.com/BitcoinDood/

Renewing a Namecheap Domain with Bitcoin!

Wow, a year has come and gone! First off, thanks to everyone who has made bitcoindood.com a success. Surprisingly the site has generated a small following and The Dood really appreciates all the support he has received from the bitcoin community! You all rock!

So bitcoindood.com was originally started as an experiment to a) use some of my bitcoin, and b) try to set up a semi anonymous website online using cryptocurrency. Originally the site was hosted by Cryptocloud Hosting and paid for each month with Dogecoin and the site was registered with bitcoin through namecheap.

The experiment was a huge success. The site was registered and still is to Bitcoin Dood 50 Dood Ln. Bitcoin NY. It was originally hosted in the UK and has now moved to a US server. Cryptocloud did a great job hosting the site, but The Dood already had some server space in the US and just didn’t like paying for hosting when he could just add it to his US server at no additional charge. On top of that, there really was no reason to maintain anonymity and The Dood dubbed the experiment a success when all invoices, billing, and contact information was in Bitcoin Dood’s name. LOL

So another year has passed us by. The original Namecheap review was lost in the database crash, when I moved the servers. Oh the horror! From what I remember getting set up was fairly easy. I set up an account on Namecheap that works almost like a prepaid phone card, you have the option to load money into your Namecheap account. I transferred over $15.00 worth of bitcoin. They use BitPay and I did have a small problem waiting for the transaction to clear the first time, but there was a chat box for customer support at the bottom of the page and the person who replied was very patient, found my deposit, credited it, and then I registered my domain. For the most part Namecheap made the process really painless and their customer service was absolutely fantastic.

After I registered the domain name, I pointed the DNS to my host and within about a half hour the DNS had propagated and bitcoindood.com was up and running. It really couldn’t of been any easier.

A year has come and gone, and it was time to renew the domain name. The process was just as simple and I’m happy to report there were no problems at all. Here’s the process, and if you wanted to register a domain name you would just set up a Namecheap account, and pretty much follow these steps. If you’ve never registered a domain before, just load up your account and you can have a customer service rep help walk you through the process. It’s a little confusing your first time out, but it’s actually a really simple process and their customer service is great. So here’s what I did.

Step 1) Top Up Your NameCheap Account.

Click top up your account to add money to your namecheap account.

top up namecheap

Click on top up balance to add Bitcoin.

Step 2) Select Pay With Bitcoin

Now select the bitcoin option for payment.

renew domain with bitcoin on namecheap

Click the bitcoin radio button to pay with bitcoin

Step 3) Enter The Amount You Want To Add To Your Account.

So using Namecheap is just like loading a prepaid phone card. You just enter the amount of money you want to add to your account, and then click the “Go To BitPay” button to pay by bitcoin.

How much you want to pay in bitcoin

Enter the amount you want to pay with bitcoin.

Step 4) Send The Bitcoin

Now we send the bitcoin to the specified address and when BitPay receives it the page will refresh and display a confirmation. This happened in almost real time and took under a minute.

Send the bitcoin.

Now just send the bitcoin to the address BitPay supplies.

Step 5) Return To Namecheap To Finish Your Business

Once the confirmation window opens, just click the big blue button that reads “Continue to Namecheap” to either pay your bill or register a new domain. It really is that easy and I had no problems at all this time.

You paid with bitcoin.

Now write down your order number and you are finished.

Step 6) Download Invoice & Finish Up Your Business.

When you return to Namecheap you have an option to download a paid invoice in PDF format. Once you have your receipt either pay your bill or register a domain. Basically you handle your business and you are done. Namecheap makes it really easy to use bitcoin through BitPay.

Domain paid!

Download the invoice and you’re done. This was really simple to do, and now bitcoindood.com has been renewed using bitcoin!

And we’re done! So once you load your account you just handle your business, and either pay your bill, or register a new domain name. They make it simple and painless. I’ve used them for almost a year now and I’ve been really happy with the service! If you’re looking for a good hosting company, The Dood highly recommends giving Namecheap a try and paying by bitcoin!

Dood Reviews Coinwallet.co Tipbot and POS Pool

Coinwallet.co has decided to close. For more information click here.

I’m back… I have to admit I haven’t been super motivated to write anything. Losing three months of blog posts was a real kick in the nuts! Anyway, I’m back and for my first real post on the new server I thought I would review coinwallet.co

So the other day , @kobocoindev on twitter was kind enough to send The Dood a tip of some Kobocoin using the coinwallet.co twitter tipbot. I had been looking for a multi-currency tipbot to use since the fall of whitepuma and when I learned about CoinWallet.co I was pretty excited. After signing up and claiming my tip, I discovered so much more than a multi-currency tipbot.

The tipbot is just a small feature of what coinwallet.co actually offers. The service works like an online cryptocurrency wallet for over 75 different cryptocurrencies. You can use the twitter tipbot to tip on twitter in over 75 different cryptocurrencies, and it also acts as a stake pool for any coins that are Proof Of Stake! Very cool feature.

If you don’t know what POS (Proof Of Stake) is, simply put, you put some coins aside in a wallet, when the coins mature, usually after 24 hours or more. The stake or the reserved coins begin to earn interest. There’s actually a lot more going on in the background but for the purpose of this review, that over simplified explanation will do. If you want to learn more about POS check out this older article by Vitalik Buterin written in 2013.

With that said, after playing around with the service for a few days, here’s my review and what I found.

Sign up was simple. Just go to the registration page, create a username, enter an email address, and create a password. Hit register and you’re ready to start.

Registratoin on coinwallet.co is easy

Simple registration. Just create a username, enter an email account, create your password, hit register, and you’re good to go.

Once you’re signed up, just login to your account, type in your username, password and the captcha and enter the site.

The first thing I did was turn on 2FA. Two factor authorization sends either a text message to your phone or you can use the google authenticator. Either method gives you a code on your phone that you need to log into your account. With 2FA activated nobody can get into your account,  even if they have your username and password, unless they have your phone too. To activate 2FA just click on the Settings tab at the top of the page and following the instructions.

Set up security features.

For security set up google authenticator or two factor authorization.

Once you set up your security, it’s time to get some coin into your account. This works like any other wallet for the most part. Just click on the Dashboard link. Find the coin you want to add. Click the wallet button, then on the next page click on the “My Addresses” tab and then the Generate Address button. Once you get your address , start sending coin to the account. To see the confirmations, and the coins you recieved, just click on the “Recieved” tab.

Click on wallet to add cryptocurrency

Each coin gets its own wallet. Click on the wallet buttn for the selected coin and add your favorite cryptocurrency.

add cryptocurrency

Generate address and add cryptocurrency for staking, storage or tipping on twitter.

Coinwallet.co can handle over 75 different cryptocurrencies. This is really cool in itself. Once you deposit the coins in your account, it automatically starts staking them for you. To check the status of your staking, just click the POS button and it will show you all your POS Pool payments. This is a really cool feature.

Click the POS button to view your pool payouts.

To see your stake payments, just click the POS button to view your pool rewards. Very cool!

Stake payouts

Here are some of the POS of payments recieved in just 3 days. The Dood loves the Proof OF Stake.

Like any other wallet, you can send coins to any other address buy clicking the send button. Then send the coin to the address of your choice.

To send cryptocurrency just hit the send button.

Just click the send button to send out cryptocurrency.

Simple to use send feature.

Sending cryptocurrency is easy with coinwallet.co. Select the currency, enter the address, the amount, a note if desired, and click pay now.

Finally next to the staking feature, the twitter tipbot is extremely cool. Sending a tip on twitter is as simple as typing

@CoinWalletco tip @BitcoinDood $CoinTickerSymbol AMOUNT message.

Here’s an example of a tip I sent:


What The Dood Likes ….

Overall The Dood really likes this service. The proof of stake feature is a really great idea. I’ve been staking OKcash for some time now , and I sent the same amount to my coinwallet.co account and in the same amount of time my stake rewards were just a little less than what I receive in the same amount of time using ROKOS on my RaspberryPi. When you add your energy costs to staking on your own, the slight difference is completely justifiable. For a full list of coins, and their maturity time click here.

I’ve been looking for a multi-coin tipbot since WhitePuma closed at the end of last year. I absolutely love the tipbot feature. With all those coins to choose from, you can send all your twitter pals, their favorite coins in tips. It’s also a great way to introduce them to this service.

What The Dood Doesn’t Like…

There’s really not a lot not to like. I’d love to see a service like this that comes up with a way for members to hold their own private keys. Without access to the private keys, just like on any exchange you probably use now, technically you don’t own the coins, the exchange does. I don’t like this at all. All things considered, if you don’t put your life savings in here, and it’s even suggested that you don’t on the websites faq, you should be OK.

The other thing I didn’t like is two times I had a hard time connecting to the server. This wasn’t to bothersome, and things happen from time to time. It could of just been a high server load, or something on my end, but it did bother me enough to reduce my staking amount to just a few dollars until I get a little more comfortable using the service. I’ve been around for a little while now, and I do get a bit nervous letting other people maintain my coins.

Final thoughts !

With the exception of the server time outs, I absolutely love this service. Again, I wouldn’t store my life savings here, but it is a fun way to stake some extra coin you might have sitting around on an exchange, or in a wallet that you rarely load up. With so many POS coins, it can tie up a lot of system resources to stake each of them on your own equipment, so this is a great solution. Again, be safe, and don’t get carried away. I will admit I loaded up a bunch of BitBean, and it’s really fun to hit refresh every few hours and see your coins grow.

The tipbot is a brilliant idea, and I can’t say enough about how happy I am to find a decent replacement to WhitePuma. I sent out some DigiByte to a friend and this will probably become my tipbot of choice from here on out.

I plan on using this service regularly, and I’ll post some updates on my staking, and also how the service works out for me. For the most part, I’ve been playing around with it for three days now, and I absolutely love it.

Bitcoin Borat says “Great Success!”

Bitcoin Borat

Bitcoin Borat says Great Success!