FLOT PPC Operations (buy side)

[masterOfDisaster]

Relevant

• FLOT Operations Thread
• FLOT US NuBit Operations (sell side)
• FLOT Bitcoin Operations (buy side)
• FLOT NuShare Operations (buy side)
• FLOT BlockShare Operations (buy side)
• Tier 4 Fund Management
• [Passed] Peercoin FLOT Reserve
• Create multisig transaction with Cointoolkit (Daology article)

Multisig #1

Address

pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV

Inspect address with Cointoolkit.

Redeem script

53210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c0721031209e2f8429e0fd724607bfb67074f346e0cd531ae5998ddbd5b5779a99b3c5321033a780a75027a5c5da4f33968f4179cfef95cd0623c3c9f9eadbc76893bc6be6d21034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff210398aca1e7739d1e9898e59ac8c270995114df1a1c590dafb01c0aeb2b2a0b246a55ae

Create transaction with Cointoolkit.

Formation

I’ll keep using this: 034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff

mhps pubkey: 03199d5604d98bddf07ce8d6981082e0152cdd43a974de0fb77a98b1205a36ef9d I only promised one signing per month, although it perhaps doen;t matter as the PPC reserve is not supposedly often used.

my pubkey: 033a780a75027a5c5da4f33968f4179cfef95cd0623c3c9f9eadbc76893bc6be6d

0234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c07 Unless @Cybnate wants to be part of this group.

I am available if needed, I dont mind not being a part of it but have no objections to being part of it either. So add me if needed. PPC pubkey: 02e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f

Sorry for the delay, work got in the way. My Peercoin pubkey is: 031209e2f8429e0fd724607bfb67074f346e0cd531ae5998ddbd5b5779a99b3c53

For that we have the necessary keys. Just in case the group members (as well as the potential group members!) agree that those 5 people should be responsible, here’S the multisig stuff (created with Cointoolkit). With pubkeys in lexicographical order the resulting multisig 3-of-5 PPC address is pM68K72BBa2KX7Kj2qY5jgTB3AmCUKFQmV The redeem script for this address is: 53210234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c0721031209e2f8429e0fd724607bfb67074f346e0cd531ae5998ddbd5…

Ping

@crypto_coiner, @jooize, @mhps, @masterOfDisaster, @Dhume, @dysconnect, @Cybnate, (@woodstockmerkle, @cryptog; not yet in group)

[dysconnect]

I’ll keep using this: 034b0bd0f653d4ac0a2e9e81eb1863bb8e5743f6cb1ea40d845b939c225a1a80ff

[mhps]

mhps pubkey: 03199d5604d98bddf07ce8d6981082e0152cdd43a974de0fb77a98b1205a36ef9d
I only promised one signing per month, although it perhaps doen;t matter as the PPC reserve is not supposedly often used.

[crypto_coiner]

my pubkey: 033a780a75027a5c5da4f33968f4179cfef95cd0623c3c9f9eadbc76893bc6be6d

[jooize]

 0234139729dd413c84a71a0bfd6f236790be861b37311cef3240277c940e4b0c07

Unless @Cybnate wants to be part of this group.

[mhps]

I actually prefer @Cybnate and @crypto_coiner over myself because they are often online and it’s good to expand FLOT to more community members.

[masterOfDisaster]

I wouldn’t be mad if I didn’t become a PPC FLOT member.
But as I expect only litte activity in this group, I don’t mind, if I’ll be one of the members, either.

[jooize]

I’m of similar sentiment, but I like Peercoin, so I kinda want to be part of this for probably irrational reasons.

[crypto_coiner]

Let’s see if Nu is decentralization-driven still in its signing operations.

[woodstockmerkle]

I’m a member of the BTC and NBT groups, and have recently taken on development duties.

I’d prefer to give others the chance to participate more, but if we run short of contributors please ping me.

[Dhume]

I am available if needed, I dont mind not being a part of it but have no objections to being part of it either. So add me if needed. PPC pubkey: 02e2fcdfe246e9cd4864d9119b8af465487385eccd0ea30a8cb21d44d36818189f

[masterOfDisaster]

I made the OP wiki style and added 6 pubkeys there.
As soon as the list is complete (missing pubkeys have been added and people have declared membership of FLOT PPC group), we can figure out what type of multisig to use.

[Nagalim]

@cybnate should be a part of this reserve. I propose @cybnate, @crypto_coiner, @jooize, @dysconnect, and @masterOfDisaster for 3-of-5.

[cryptog]

I prefer not being part of it in order to foster decentralization since I am already part of BTC, NSR, BKS FLOT but if you need one new signer please ping me. Tks for the invitation anyway.

[masterOfDisaster]

That’d be a reason to leave me out of the PPC group as well.

[cryptog]

You have 6 keys for a group of 5 signers from which 3 are required for signing.
Do you need more keys?

[masterOfDisaster]

I’m neither sure that 3-of-5 is the maximum for multisig in the Peercoin network, nor am I sure it’s already decided that it will be 3-of-5.
It could e.g. very well be 4-of-6, 4-of-7 or 5-of-8.
There should be consensus within the (future) PPC group regarding the consensus scheme

[dysconnect]

It’s the same as Nubits. sigmike suggested 4-of-6; erasmospunk suggested 3-of-5 while mentioning that 4-of-6 would be unusable according to a slightly conservative estimate of the scriptSig size, which tend to be a bit random. Having two groups may be ok, depending on how people feel about the security vs overhead. Eventually the code should really be updated so we could get a big group; it at least has to happen before BCE.

[Nagalim]

Im against having 2 ppc groups right now. Keep it simple (KISS).

Btw, the btc-e account has been created. Ill test deposits and withdrawals over the weekend.

[Cybnate]

Sorry for the delay, work got in the way.

My Peercoin pubkey is: 031209e2f8429e0fd724607bfb67074f346e0cd531ae5998ddbd5b5779a99b3c53