Feature request: regarding bips38 cold storage spends... the passphrase is echoed to the screen and not obfuscated with asterisks - and left that way during decryption. This should be hidden from the screen asap once entered.
Hey guys, I ran into a potentially devastating situation yesterday during a trade and thought you might like to try and address it. I started to spend to a person I was trading with, for non-trivial amount, and put in the number of bitcoins I needed to spend to him. Then I scanned his bitcoin address and hit send. The problem was that his QR code had an amount embedded into the QR and silently updated the amount I typed in. Fortunately, the amount he specified was lower than what he was owed, and he was a trusted trader, and the key I was using was only funded for what I needed to spend to him. But as you can see, this could be devastating if successfully exploited. I recommend a popup or similar if the current amount does not match the encoded amount, OR do not let an amount be entered until the QR code is scanned.
Gold/Silver is backed by the physics of the universe. We have conquered physics enough to make gold using a similar process to nature, but it is still quite expensive. Bitcoin is backed by mathematical rules that govern how the monetary system is inflated and operates. The strength for bitcoin is that no matter how much energy you apply to a system, no matter how you bend the time/space continuum, 1+1 will always equal 2. The blockchain, every transaction that has ever occured and will occur is secured by this infalable and uncounterfeitable math - regardless of any future technology or power innovations.
Any idea when we'll be able to use 2 factor/encrypted keys with cold storage spending? I'd love to generate encrypted private keys with bit2factor.org and keep them in my physical wallet for toping off my phone when I get low.
you can in fact do cold storage spending in the very new testnet version, but only from our Scrypt-based 2-factor private keys (similar but not equal to BIP38). Other 2-factor cold storage spending schemes could be enabled in the future.
Feature request: I'm using mycelium as a POS for a local merchant. It would be awesome to have the ability to brand the background with the merchant's logo. Also, it would be neat to be able to dim transactions in the transaction list to "mark them as acknowledged" so they won't be confused with the next payment. It could be something like a simple toggle and not even persistent necessarily. Perhaps a way to persistently tag a transaction with an order number though would be useful.
Thanks for the suggestions. We have, and still are, debating internally how we should make Mycelium better for POS scenarios. It is hard to make one tool that is perfect for all use cases, and one solution is to have separate versions. The POS version should be a lot simpler, and preferably not require prior Bitcoin knowledge by the operator.
You've misunderstood many things about bitcoin, specifically, there isn't 21 million bitcoins that can be created.. There is 2.1 QUADRILLION bitcoin "pennies" that can be created. Each bitcoin is divisible to 8 decimal places. @ $1000/XBT, you are actually buying 100,000 monetary units of Bitcoin. Keep researching.
Favorite Quote: "This is an entirely predictable and rational outcome for what’s happening in Cyprus,” says Nick Colas, chief market strategist at ConvergEx Group. “If you want to get a good sense of the stress European savers are feeling, just watch Bitcoin prices."