четверг, 7 июня 2018 г.

bitcoin_gold_wallet

Bitcoin Gold Addresses ‘Scam’ Wallet and Premine Endowment Process

On Monday November 20, the cryptocurrency-based hardware wallet manufacturer, Satoshi Labs, revealed that the Bitcoin Gold (BTG) network is now accessible through the Trezor beta wallet. Further, the BTG development team has recently revealed that the wallet “mybtgwallet” may be a scam, alongside information on the team’s premine endowment process.

Trezor Adds Bitcoin Gold Support

The forked cryptocurrency bitcoin gold is having an interesting week as market liquidity is starting to hit exchanges. BTG markets have increased 100 percent in the past 24 hours jumping from $150 per token to $275 on November 21. The day before the Prague-based Satoshi Labs, the makers of Trezor, revealed they would enable BTG retrieval for customers within the wallet’s beta client. Trezor’s blog gives a step-by-step process on BTG claiming, just as it did when bitcoin cash forked this past August. Users are required to use the firm’s beta wallet and upgrade their firmware to 1.6.0.

“For the time being, your Bitcoin Gold wallet will only be accessible from the Trezor beta Wallet,” explains the company.

Bitcoin Gold is not Bitcoin — It merely uses bitcoin’s history similarly to the case of Bitcoin Cash — This process will not affect your Bitcoin wallet at all.

Removing an Alleged Fraudulent Wallet from the BTG Homepage

In addition to getting BTG support from Satoshi Labs this week, the development team has revealed a wallet called “mybtgwallet” may be fraudulent and removed the wallet from their homepage. The development team says they are investigating the situation and the team is working with security experts covering the issue.

“When we receive verifiable reports that a website or app is a problem, we removed it from our site,” explains the BTG development team.

Preliminary investigations indicated that at least some of the claims of theft by the mybtgwallet site are reliable — Like all third-party sites, that site was not in our control, but we immediately removed it from our pages and the team is working with security experts to get to the bottom of this issue — It appears the mybtgwallet online wallet site was modified by unknown parties long after it was originally published.

BTG Developers: “The ‘Premine’ Wasn’t a Premine”

Lastly, the BTG development team has also addressed the controversial bitcoin gold premine this week. The founding developers say that the premine is not like traditional instamine processes that most teams utilize and that it shouldn’t even be considered a ‘premine.’ The “premine” wasn’t a pre-mine,” says the BTG team.

Bitcoin gold was replicated from the bitcoin (BTC) blockchain at block height 491407, and at that point there were 16.5M BTG in existence, explains the organization.

“After this, the project mined 100,000 coins (8000 blocks at 12.5 coins per bock), so it’s more of a post-mine, but we still call it a premine,” reveals the BTG endowment announcement.

A true premine is when the makers of coin start a new blockchain with a genesis block and do private mining to accumulate a number of coins, and only then make mining public for others earn coin rewards. With that approach, the makers obviously start out with a huge proportion of the initial coin supply – 100%! That would have been a serious problem.

In addition to describing what they believe is a ‘fair premine,’ the BTG team claims 95 percent of the coins are locked up in an endowment. Some (35%) will possibly be available for use immediately, and 60% was locked up for the future. The core development team has gathered 5% of the BTG premine to cover initial infrastructure costs.

The BTG team concludes by saying that if there is anyone who is technically proficient enough to verify the development team’s time-locked premine wallets, they can validate the procedure here and here .

What do you think about the latest news from the BTG team? Have you tried to access your bitcoin gold? Let us know what you think in the comments below.

Images via Shutterstock, Bitcoin Gold, and Crypto Compare.

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Bitcoin Gold Wallet That Stole Private Keys Scooped $3.3 Million

Last week it emerged that a fake BTG wallet which had been promoted on the bitcoin gold website was fraudulent. The team’s developers removed “mybtgwallet” once the scam came to light, but not before scores of innocent users had been duped. The total amount of cryptocurrency lost to the fraud has now been totted up – and it comes to a whopping $3.3 million.

Fool’s Gold

The website containing the fake wallet, which encouraged users to upload their private keys and claim their free bitcoin gold, has since been purged, but an archived version can still be viewed:

The average user, visiting the bitcoin gold website which contained a link to mybtgwallet, would have had no way of knowing that the wallet was a trap. The BTG team also tweeted links to the wallet and reassured users that it was safe to use, leading to some out-of-pocket individuals to call the whole affair a conspiracy. The successful heist of over $3 million of cryptocurrency raises serious questions, not only about the diligence of the BTG team, but the obligations of developers as a whole.

This week, it also emerged that $7 million worth of the Verge altcoin had been stolen from Coinpouch, an iOS wallet which had also been promoted on the Verge website. Should developers be compelled to inspect the code for third party wallets before promoting them? The average user lacks the technical nous to check for malicious code, but the same cannot be said of cryptocurrency devs. The bitcoin gold team also stand accused of being slow to act once the scam came to light, with a team member stating last week:

Preliminary investigations indicated that at least some of the claims of theft by the mybtgwallet site are reliable

Those claims would appear to have been wholly accurate. In total, $3 million of bitcoin, $107,000 of bitcoin gold, $72,000 of litecoin and $30,000 of ethereum was swiped by the entity behind mybtgwallet. The pseudonymous developer behind the fraudulent wallet went to great lengths to orchestrate the scam. The wallet was supposedly open source, but the code was later updated on Github, enabling the private keys from users to be sent directly to the mybtgwallet scammer.

A statement released by the bitcoin gold team said:

The team is working with security experts to get to the bottom of this issue…[we] will continue to cooperate in every way possible and work tirelessly in hopes of getting to the root of what happened.

The BTG team are expected to provide a further update in the coming days.

All That Glitters

After the extent of the mybtgwallet hack came to light, one previous beneficiary of forked coins – Bitmain’s Jihan Wu – had this to say:


With every passing fork, the birth of bitcoin cash is starting to look like a textbook case in how to fork a coin. With bitcoin diamond (BTD) the next fork to be born, which is estimated to occur on November 24 , bitcoin holders who possess their own keys have a dilemma to face: claim BTD, or play it safe and ignore the forked coin altogether. The third option, of course is to send bitcoin to an exchange that will support BTD and disburse the coins, but relying on centralized exchanges is not without its risks either. Despite the negative publicity surrounding bitcoin gold, the price of the virtual currency has climbed sharply this week along with its fellow fork bitcoin cash.

Do you think that cryptocurrency developers have a duty to verify third party wallets? Let us know in the comments section below.

Images courtesy of Shutterstock.

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How To Claim Your Free Bitcoin Gold [BTG] From Any Wallet

The Bitcoin Gold fiasco continues.

I am assuming that you know about Bitcoin Gold already. But if you don’t, check out these write-ups on Bitcoin Gold:

In short, Bitcoin Gold is a new cryptocurrency that forked out of Bitcoin last week (late October 2017) from the block height of 491407.

Before the fork, CoinSutra had published detailed instructions for our community so that they could benefit in the future. And that moment of the future has now come!

If you were not tracking the fork or not reading CoinSutra and have left your Bitcoin in an exchange that is not supporting BTG after the fork, then you are out of luck.

On the other hand, I would like to congratulate our community readers who heeded our advice of keeping their BTC in the Ledger Nano S, Trezor, Mycelium, Jaxx, or other similar wallets, and are now lucky enough to be eligible to claim BTG.

Also, these forking events are a timely reminder for all of us that one should never trust exchanges and should always be in control of their own private keys.

Note: The fork has already been done and some exchanges have already credited users their BTG tokens. And remember these are only tokens, not actual BTG, given and traded by these exchanges. However, users who had their BTC on a wallet at the time of the fork where they control their seed/private key will be able to claim BTG through the process which I am going to elucidate in this write-up. Another thing is that users will be able to claim BTG only once the BTG blockchain is live, which is going to happen in early November. I will update this section again with the new and latest information.

Step By Step Guide To Claim Your Free BTG

Now that we are on the same page, let’s see how to claim and access our FREE BTG when the blockchain is live by using Coinomi Wallet.

First Things First – Update/Install Wallet

We are going to do this recovery of BTG from the Coinomi Android wallet.

  • If you already have Coinomi, then please update your Coinomi wallet to the latest version. Open your Play Store app, click on the top left menu, select “My apps & games”, and then click on the “Update” button next to “Coinomi Wallet”.
  • And if you don’t have Coinomi, then please install the latest version from here on your Android device.

Once your device is ready, follow these steps:

#1. Access your BTC wallet where you had your BTC at the time of the fork. Wallets like Jaxx, Mycelium, Ledger, Blockchain.info, Exodus, or any other wallet that supports BIP44 type key generation. Do a simple Google search to check if your BTC wallet is BIP44 supported.

#2. Now from these wallets, take out your seed words. Seed words (or recovery phrases) are the 12, 18, or 24-word long phrases that you backed up while setting up your wallet.

#3. Now use your Coinomi wallet along with these seed words/keys for restoring your BTC wallet on Coinomi.

#4. Once your BTC wallet has been restored on Coinomi using these seed keys, you will be able to see your BTC balance that you had at the time of the fork.

#5. Now in your Coinomi wallet, click on the top left menu, then hit the “+ COINS” button and select “BitcoinGold” from the mind-blowing list of Coinomi’s 86 supported coins and 214 tokens.

#6. A pop-up dialogue will appear asking if BitcoinGold should be added. Hit the “ADVANCED SETTINGS” button. If you clicked “Add” instead, you need to delete your BitcoinGold wallet and add a new one. In the “Derivation Path” section, enter: M/44H/0H/0H

Note: The characters before “H” are the number zero and not the letter O.

#7. Now click “ADD”.

#8. BOOM,🌟⚡💥🌟⚡💥🌟⚡💥 TaDa! Your $BTG wallet is now ready and you can see both your BTC and BTG balances.

A Few More Important Things To Note…

  • If you have more than one Bitcoin wallet in your Coinomi account and you want to claim the equivalent BTG, you will have to repeat the above process, replacing the last zero with the (zero-based) account index each time. So for the second wallet, this would be M/44H/0H/1H, and for the third wallet it would be M/44H/0H/2H, and so forth.
  • With this Coinomi BTG wallet, you won’t be able to do any valid BTG transactions or see your BTG coins before the BTG blockchain is live. Expect some delay as I don’t see it happening on 1st of November 2017.
  • Coinomi doesn’t yet support SegWit addresses starting with ‘3’, so with this method, you won’t be able to claim your BTG if you had BTC on a SegWit address at the time of the fork.
  • This doesn’t mean that SegWit address HODLers will not be able to claim BTG; rather, these users have to wait until either BTG’s official wallet comes out or Coinomi starts supporting SegWit addresses.
  • Also, the Bitcoin Gold Fork has already happened (around October 24, 6 am UTC at block height 491407). So if you are trying to claim BTG by transferring in BTC that you didn’t own prior to this date, you probably won’t get BTG.
  • Beware of SCAM wallets/websites surrounding Bitcoin Gold who are frantically preying on immature users to get ahold of their seed keys. Don’t use your seed words/private keys on splitting tools or 3rd party wallets unless you are 100% sure about it.

Here is the official blog post from the Coinomi team on the Bitcoin Gold fork and how to claim your free BTG.

From now on, it will be interesting to see how Bitcoin Gold survives surrounding all the criticism and how much hash power it will be able to steal from other GPU mining rigs.

Now it’s time to hear from you: So what are you going to do when you are able to claim your free BTG? Are you a HODLer or FUDster? Do let me know your thoughts in the comments section below.

If you enjoyed this tutorial, do share it with your friends on Twitter & Reddit!

Best Reliable Bitcoin Gold Wallets

For those of you who are coming here for the first time, Bitcoin Gold is another altcoin which has recently forked out of Bitcoin.

Forking Bitcoin and making an altcoin is one of the easiest ways to get a lot of attention. Such types of forks give BTC users freebies in the form of airdropped forked coins.

The same free air drop happened with the BTC users on the 24th October 2017 at block height 491407 when the Bitcoin chain forked into Bitcoin Gold.

CoinSutra had published detailed instructions about this fork well before the event. If you were reading CoinSutra, then I am sure you’re now eligible to claim your coins. To those who were not: sorry you are now out of luck.

This fork was a snapshot fork; a unique fork that we haven’t seen before in this cryptosphere. This snapshot fork means that Bitcoin Gold can’t be claimed by BTC users until the actual BTG blockchain goes live.

Now, BTC users can claim their free BTG coins as the BTG blockchain is now live.

Hello miners and users!⛏️⛏️
It’s the third day after the launch of the Mainnet, and we’re pleased to say the #BitcoinGold blockchain is stable and growing as expected.https://t.co/SA6PdmQX0Y pic.twitter.com/VrljdfiXMq

— Bitcoin Gold [BTG] (@bitcoingold) November 15, 2017

I have covered the full backstory of Bitcoin Gold in the below articles, so do consider going through them if you want to know more:

I know by now some of you might have dumped or sold your BTG, but we also have some HODLers in our community who may want to keep BTG for the future.

For such users, here is a list of safe Bitcoin Gold wallets…

Best Bitcoin Gold wallets

I have based this list on the merit of these wallet providers. I have deliberately avoided a few wallets because I’m not sure about them.

This is the best wallet one can get in the cryptosphere.

The Ledger Nano S needs no introduction and is the most popular hardware wallet in the market right now.

It allows you to control your private keys/seed because it is an HD wallet, hence you are always in charge of your funds without relying on any trusted third party.

CoinSutra has covered the Ledger Nano S in detail numerous times, you can read about it in the below-mentioned write-ups:

The good thing is the Ledger Nano S will support Bitcoin Gold so you do not need to risk your BTC by exposing your seed words in any other wallet.

Bitcoin Gold update: we are still parsing the BTG blockchain (it takes up 72 hours to build our high performance graph). We expect availability in 24-30 hours.

Here are a few important videos guides on Ledger Nano S that will help you to get started:

2. Trezor

Trezor’s Bitcoin Gold support is coming.

Until now they weren’t ready to support Bitcoin Gold because of the code’s unavailability but it looks like they are now going to support it.

It is apparent from their below-mentioned tweet that they are in the process of making a split tool for their users.

Bitcoin Gold has released their source code. We are currently working on developing support for TREZOR.

You will be able to split your BTG from BTC once our claim tool is ready, assuming you held BTC on TREZOR before block 491407.

Trezor is a reliable wallet and the CoinSutra team has been using it for over 6 months. We have also come up with a few video tutorials on this hardware for our new users. Check it out on the below video, if you want to buy the Trezor wallet here is the official link.

Another fine wallet that is supporting Bitcoin Gold is Coinomi.

They were also the first in the market to enable BTG access through their wallet. We have published a detailed guide on claiming BTG via Coinomi through almost any wallet – check that out here.

I would say it is a decent HD wallet with multiple coin support and allows you to control your private keys/seed words so that you are in charge.

Coinomi has had its fair share of controversies, particularly when they exposed user’s Bitcoin addresses in plain text. However, that doesn’t mean that they are not safe – it’s just one of those things to be expected as a leading mature wallet.

Currently, it is only available for Android, but iOS support is coming soon.

4. Exodus

Exodus wallet needs no introduction as it the most beautiful software wallet for cryptocurrencies that I have seen for far.

Exodus supports now more than 25 cryptocurrencies including Bitcoin Gold.

No registration or identity verification is needed to start using Exodus. But you certainly need to take a backup of your seed key! Which means you are always in control of your funds.

Exodus comes with ShapeShift built in for exchanging cryptocurrencies and is an HD wallet.

And if you need help, you can get personal support from the founders via email.

It is available on Mac, Linux, and Windows.

Bitcoin Gold Core is their official full node client/wallet that lets you mine Bitcoin Gold and also allows you to store, send and receive your Bitcoin Gold.

It is a full node client which means you are required to download the whole blockchain to be able to use this wallet. This will take up a decent amount of hard disk space.

It is available for Windows and Linux operating systems. (Source: Bitcoin Gold)

Reliable Bitcoin Gold Wallets

Though it is highly ironic to use the word ‘reliable’ for an openly pre-mined project, let’s continue as many users are losing their BTC in the hurry to access BTG too quickly through unreliable wallets.

See some of these examples here:

I lose around 0.15 BTC on this site today morning also. @bitcoingold should answer about that scam website.

— Ali Tabirzadeh (@1361_dadash) November 15, 2017

That’s why we have published this list of BTG wallets – to protect our audience. This post is not to be taken in any way as a BTG endorsement or as investment advice. It is just to inform you about some reliable wallets where you will at the very least not lose your BTC.

Some more wallets that claim to support BTG are Freewallet and Guarda.

We haven’t covered them in the above list because Freewallet has had its fair share of criticism for scams and Guarda is still new in the market.

Note: Also, Bitcoin Gold is in its infancy – several scam wallets are mushrooming here. They are constantly preying BTC users, scamming them by taking their seed keys. So be aware of such scams and don’t disclose your private keys/seed words until you are sure.

Even the official Bitcoin Gold website isn’t listing the wallets with proper precautions, so right now the scenario of people losing their BTCs is pretty bad. Here at CoinSutra, we try to take measures to protect you from such scams and do thorough research before publishing anything.

So happy forking 🙂 with CoinSutra

See you soon for a new and interesting post.

Let me know in the comments what you think about Bitcoin Gold and which cryptocurrency you want me to cover in my next article!

And if you liked this post, don’t forget to share it with your friends on Facebook or Twitter!

Here are a few hand-picked articles for you to read next:

Bitcoin Gold Wallet Scam Nets $3 Million in Illicit Earnings

More than $3.3 million has been stolen as part of an elaborate scam that took advantage of bitcoin users seeking to claim their share of the newly created cryptocurrency bitcoin gold.

Perpetrated by the operators of a website called mybtgwallet.com, the scheme prompted users to submit their private keys or recovery seeds as a means to generate bitcoin gold wallets, as seen on an Internet Archive snapshot. Shortly after users did so, however, the cryptocurrency holdings in their wallets were sent to different addresses.

At least $30,000 in ethereum, $72,000 in litecoin, $107,000 in bitcoin gold and more than $3 million in bitcoin were confiscated, according to self-reported numbers verified by CoinDesk.

In an interview, victims blamed the association of the website with the official bitcoin gold project as a source of the effectiveness of the operation.

One of the victims, Mikel Martin, explained to CoinDesk:

"I reached this site by following the link at [the] bitcoingold.org official website so I trusted it. Yesterday afternoon I noticed both my BTC and BTG stored in that wallet were gone."

Safety assurances?

Before the thefts became apparent, the team behind bitcoin gold – an effort to create a new version of bitcoin that would restrict the types of hardware that can be used for mining – promoted mybtgwallet.com on their Twitter account, assuring users that it was safe to use on multiple occasions.

The person behind the service was, to an extent, ingratiated in the nascent BTG community, including its Slack channel. The website was developed by a user named John Dass, though it is unclear whether this is the developer's actual name or a pseudonym.

Further, the Bitcoin Gold website also included a balance checking tool based on code that was shared on GitHub on their website for a brief period of time, though the window only asked for a wallet address and included a disclaimer that users shouldn't share private keys. The Bitcoin Gold team has clarified that the malicious code itself was never present on their official website.

Yet once the thefts became apparent, the news quickly spread.

An analysis of the site's code by Reddit user Uejji four days ago found that the site stored the recovery keys, which were later sent to the site's owner. The site claimed to be open-source, but all of the source code was changed on GitHub after the scam was initiated, said Torsten Sandor, a spokesperson for Exodus, a digital wallet whose users lost funds in the scam.

Some of the victims of the scam used this wallet, which allowed the company to put together how the scam operated for one of their users, he said.

"The user gave his recovery seed to the site and his wallet emptied," he told CoinDesk, adding:

"This only happened with bitcoin gold. It's a very interesting fork . I think it's extremely unfortunate that new investors, people who know little about crypto, started buying into it."

Scam response

Representatives from the bitcoin gold say they're moving to figure out a remedy to the situation.

After first being made aware of the scam, the launched an internal investigation, according to spokesperson Edward Iskra. In a published statement, Bitcoin Gold developers said they were "working with security experts to get to the bottom of this issue," but did not clarify who these experts were.

Iskra told CoinDesk that, initially, John Dass claimed innocence during this investigation.

"The investigation increasingly indicated that the original developer, 'John Dass,' was responsible for the fraud all along … He has dropped out of touch with us, as well," he said.

While Dass was in the bitcoin gold Slack channel with a "developer" tag, he was not a part of the project's formal team, Iskra said.

There was "no formal relationship at all. He did interact with our devs in the Slack regarding developing his open-source code [and] his web site," he told CoinDesk. "The BTG Twitter account was simply supporting an individual in the community who was supporting BTG – that was their sole intent, at the time."

The Bitcoin Gold team will make a further announcement about their investigation within the next few days, Iskra said.

Mybtgwallet image via Nikhilesh De / CoinDesk; Car with boot via Shutterstock

Correction: A previous version of this article inaccurately indicated that the fraudulent BTG wallet was embedded on their official website. This report has been updated for clarity.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

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I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more

chithidio@Yahoo.com

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Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more

Bitcoin Gold Addresses ‘Scam’ Wallet and Premine Endowment Process

On Monday November 20, the cryptocurrency-based hardware wallet manufacturer, Satoshi Labs, revealed that the Bitcoin Gold (BTG) network is now accessible through the Trezor beta wallet. Further, the BTG development team has recently revealed that the wallet “mybtgwallet” may be a scam, alongside information on the team’s premine endowment process.

Trezor Adds Bitcoin Gold Support

The forked cryptocurrency bitcoin gold is having an interesting week as market liquidity is starting to hit exchanges. BTG markets have increased 100 percent in the past 24 hours jumping from $150 per token to $275 on November 21. The day before the Prague-based Satoshi Labs, the makers of Trezor, revealed they would enable BTG retrieval for customers within the wallet’s beta client. Trezor’s blog gives a step-by-step process on BTG claiming, just as it did when bitcoin cash forked this past August. Users are required to use the firm’s beta wallet and upgrade their firmware to 1.6.0.

“For the time being, your Bitcoin Gold wallet will only be accessible from the Trezor beta Wallet,” explains the company.

Bitcoin Gold is not Bitcoin — It merely uses bitcoin’s history similarly to the case of Bitcoin Cash — This process will not affect your Bitcoin wallet at all.

Removing an Alleged Fraudulent Wallet from the BTG Homepage

In addition to getting BTG support from Satoshi Labs this week, the development team has revealed a wallet called “mybtgwallet” may be fraudulent and removed the wallet from their homepage. The development team says they are investigating the situation and the team is working with security experts covering the issue.

“When we receive verifiable reports that a website or app is a problem, we removed it from our site,” explains the BTG development team.

Preliminary investigations indicated that at least some of the claims of theft by the mybtgwallet site are reliable — Like all third-party sites, that site was not in our control, but we immediately removed it from our pages and the team is working with security experts to get to the bottom of this issue — It appears the mybtgwallet online wallet site was modified by unknown parties long after it was originally published.

BTG Developers: “The ‘Premine’ Wasn’t a Premine”

Lastly, the BTG development team has also addressed the controversial bitcoin gold premine this week. The founding developers say that the premine is not like traditional instamine processes that most teams utilize and that it shouldn’t even be considered a ‘premine.’ The “premine” wasn’t a pre-mine,” says the BTG team.

Bitcoin gold was replicated from the bitcoin (BTC) blockchain at block height 491407, and at that point there were 16.5M BTG in existence, explains the organization.

“After this, the project mined 100,000 coins (8000 blocks at 12.5 coins per bock), so it’s more of a post-mine, but we still call it a premine,” reveals the BTG endowment announcement.

A true premine is when the makers of coin start a new blockchain with a genesis block and do private mining to accumulate a number of coins, and only then make mining public for others earn coin rewards. With that approach, the makers obviously start out with a huge proportion of the initial coin supply – 100%! That would have been a serious problem.

In addition to describing what they believe is a ‘fair premine,’ the BTG team claims 95 percent of the coins are locked up in an endowment. Some (35%) will possibly be available for use immediately, and 60% was locked up for the future. The core development team has gathered 5% of the BTG premine to cover initial infrastructure costs.

The BTG team concludes by saying that if there is anyone who is technically proficient enough to verify the development team’s time-locked premine wallets, they can validate the procedure here and here .

What do you think about the latest news from the BTG team? Have you tried to access your bitcoin gold? Let us know what you think in the comments below.

Images via Shutterstock, Bitcoin Gold, and Crypto Compare.

Choose your Bitcoin wallet

Find your wallet and start making payments with merchants and users.

Take time to educate yourself

Bitcoin is different from what you know and use every day. Before you start using Bitcoin for any serious transaction, be sure to read what you need to know and take appropriate steps to secure your wallet. Always remember that it is your responsibility to choose your wallet carefully and adopt good practices in order to protect your money.

Bitcoin Gold Wallet Scam Sees Fraudsters Steal $3.2 Million

A bitcoin gold (BTG) wallet scam recently managed to net over $3.2 million after taking advantage of bitcoin users looking to claim their BTG tokens. A link to the fraudulent MyBTGWallet was, before the scam came to light, placed on bitcoin gold’s website, but was quickly removed once users started noticing their balances were missing.

According to various reports, the website containing the fake wallet essentially encouraged users to upload their private keys or recovery seeds to claim their bitcoin gold, as an archived screenshot of the webpage shows.

The result was a $3.2 million theft, as the scammer behind the website managed to obtain at least $107,000 worth of bitcoin gold, $72,000 of litecoin, $30,000 of ethereum, and $3 million of bitcoin. As one Reddit user put it, when he went to check his balance, he found that all of his funds on an Electrum wallet were gone, just like the MyBTGWallet website.

“Yesterday I wanted to check my BTG balance on https://mybtgwallet.com/ today I see that all my BTC from my electrum wallet is gone! Even the website is completely gone! I am honestly a bit heartbroken, and of course, I know if it is my fault for giving out my 12-word seed…. didn’t think it would go down this way.”

Users trusted the website with their private keys – despite security experts advising against it – partly due to bitcoin gold’s support for the wallet, and to the website’s code being open source. Through their twitter account, bitcoin gold’s team assured users the wallet was safe on multiple occasions, and even listed it on its website as a resource.

No both of those wallets are safe and work keep in mind some of the features may not work until the Main net is launched.

— Bitcoin Gold [BTG] (@bitcoingold) November 11, 2017

The website’s code on Github was then changed after the scam was initiated. An analysis by Reddit user Uejji found that the website essentially encoded users’ security seed in Base64 and stored it on the website cookie, which was later transmitted to Google. There, the scammer was free to decode it and use it steal the person’s funds.

The MyBTGWallet website was reportedly developed by a user named John Dass. A transaction links his wallet to that of the scammer’s, meaning he either is the scammer, or was a victim as well. It is, however, unclear whether this is the individual’s actual name or merely a pseudonym.

Bitcoin Gold’s Response

Bitcoin gold representatives promptly issued a statement on the wallet scam, clarifying that they are figuring out a way to remedy the situation, and that an internal investigation has been launched. The statement says the team is “working with security experts to get to the bottom of the issue,” but doesn’t clarify who these experts are.

The statement further adds that the findings will be disclosed to the public as soon as it is “appropriate to do so,” and that the team will cooperate in every possible way to find out exactly what happened.

Bitcoin gold has been somewhat controversial. As covered by CCN, the project’s website has previously been hit with a DDoS attack after the hard fork that created the cryptocurrency, and then launched on November 12 to little fanfare. Later on, it was revealed that one of its developers allegedly added a hidden 0.5% fee into a BTG mining pool, sending the funds directly into his wallet.

In its statement, the team stated that it worked with various platforms – including Google, Facebook and Twitter – to stop scammers from taking people’s funds, but added that their influence is limited, and encouraged users to report scams whenever they see them.

At the end of the announcement, bitcoin gold’s team added some advice for cryptocurrency enthusiasts:

“It’s worth reminding everyone that it will never be truly safe to enter your private key or mnemonic phrase for a pre-existing wallet into any online website. When you want to sweep new coins from a pre-fork wallet address, best practice is the same as after other forks: send your old coins to a new wallet first, before you expose the private keys of the original wallet. Following this basic rule of private key management greatly reduces your risk of theft.”

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