BIP 324: A Message Transport Protocol That Could Protect Bitcoin Peers

More than 10 years living in the world of Bitcoin has shown us that there is a long road ahead for Bitcoin developers, and BIP 324, created in March 2019, could be the next important step on that road. The BIP was authored by Switzerland-based Bitcoin developer and cofounder of Shift Cryptosecurity Jonas Schnelli to help address a perceived concern around the messages exchanged between Bitcoin peers. “Bitcoin: A Peer-to-Peer Electronic Cash System” is the title of the Bitcoin white paper and, as it suggests, the P2P layer is a…

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With Open-Source Caravan Wallet, Unchained Wants to Make Multisig Mainstream

Austin-based Bitcoin financial service provider Unchained Capital just unveiled its newest multisignature wallet tool. Revealed exclusively to Bitcoin Magazine in anticipation of the launch, Caravan is the latest tool in Unchained Capital’s suite of bitcoin investor products. Like the Collaborative Custody that came before it, Caravan is a multisignature bitcoin wallet, meaning it requires multiple devices/parties to sign off on a transaction before it is sent.  Unlike its predecessor, though, which relies on Unchained Capital to act as one of the signatories, Caravan cuts out Unchained as a counterparty. The…

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LightningCashback Wants to Replace Fiat Change With Sats

As bitcoin grows as a medium of exchange and Bitcoiners become all the more interested in stacking sats as part of their daily activity, services are popping up that merge the worlds of everyday, brick-and-mortar retail and the original cryptocurrency. LightningCashback is the latest iteration of this trend, created specifically to bring bitcoin into the retail experience and convert your loose change into sats. Pay With Fiat, Get Change in Bitcoin LightningCashback was developed as a proof-of-concept by a group of programmers (including Ruben Waterman, the founder of Dutch Bitcoin…

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Video Review: Cryptotag Zeus

In this video review, Bitcoin Magazine tests the Cryptotag Zeus, a 100-percent titanium, recovery seed storage device.  The Zeus allows users to make a virtually indestructible, seed-phrase backup plaque in less than five minutes. Essentially, they engrave a series of numbers that correspond to a 12- or 24-word seed phrase provided by their hardware or software wallet onto a titanium surface.  How Do You Use It?  When a user sets up a bitcoin wallet, a set of 12 or 24 words is provided, known as a recovery seed, for the…

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Evercoin 2 Joins the Mobile Hardware Wallet Market

On November 12, 2019, during the Invest: NYC event, bitcoin wallet and exchange Evercoin announced the launch of a new, mobile-first hardware wallet: Evercoin 2. The new product is available for both iPhones and Android devices and was developed in collaboration with influential, security-oriented hardware manufacturer Yubico.  Evercoin 2 uses the hardware specifications of the popular YubiKey 5Ci authentication device but is sold with proprietary software in order to function with the Evercoin bitcoin exchange. This means that users who already own a YubiKey can extend its functionality to manage…

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Bitcoin Wallet Reviews: What’s the Best Hardware Wallet on the Market? Part 2

This is the second article in a three-part series that examines five of the most popular Bitcoin hardware wallets. Read the first part here. By request, samples were provided by some of the companies for review purposes. There are multiple reasons why the user interface recommended, developed or provided by hardware wallet manufacturers is important.  First of all, depending on the nature of this visual interaction, users get various degrees of privacy and security. For example, websites and browser plug-ins are convenient but very risky and vulnerable to malware and…

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Podcast: What Harnessing the Bitcoin Blockchain’s Power Could Mean for China

In this episode of the Bitcoin Magazine Podcast, Dave Hollerith talks with Alex Gladstein of the Human Rights Foundation about China’s President Xi Jinping publicly expressing admiration for blockchain technology. This news drove the bitcoin price at the beginning of November 2019, but Gladstein is wary about what China’s public praise could mean for cryptocurrency in general. Gladstein recognizes that blockchain technology by itself is really just a mechanism for control and surveillance of financial data. He believes, from a human rights perspective, that the real value of blockchains comes…

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Bitcoin Wallet Reviews: What’s the Best Hardware Wallet on the Market?

Hardware wallets are small and portable devices which empower users to manage the keys to their bitcoin in a way that combines security with convenience. Essentially, they serve as an extra layer of protection which stands against malevolent attacks that may happen on infected computers.  Further Reading: What Are Bitcoin Wallets If you’re HODLing your bitcoin, then you can resort to cheaper and more convenient cold storage options (like a computer that never gets connected to the internet, a USB flash drive, a paper wallet, some form of bearer item…

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Russia Prepares Law to Allow Cryptocurrency Confiscation

According to local reports, Russia’s Ministry of Internal Affairs and other law enforcement agencies are developing proposals to confiscate cryptocurrencies. These proposals could evolve into Russian laws as soon as 2021.  “Russia plans to develop a legal mechanism for the seizure of virtual assets for their confiscation,” according to a translated report from RBC. “The relevant proposals should be prepared by December 31, 2021 by the Ministry of Internal Affairs together with [federal financial monitoring branch] Rosfinmonitoring, the Prosecutor General’s Office, the Investigative Committee, the Justice Ministry … the Federal…

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Video: Paul Puey on Edge Wallet and Bitcoin Privacy

After becoming involved in the Bitcoin space in 2013, Paul Puey founded a unique and innovative wallet called Airbitz. Even at the time, the focus was on encrypting data by default, backing up the private keys and simplifying the user experience. But after deciding to enter multiple partnerships in order to seamlessly integrate various exchange services directly into the user interface, the wallet was rebranded as Edge. “You would choose Edge as a way to buy bitcoin, and actually I think that’s its biggest value proposition,” said Puey. As opposed…

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