Tier 4 Fund Management Discussion

[ttutdxh]

If you click on the top right of my link, you can see I added all the modes necesary for FLOT operations, so for BTC you could use either version. I have made a few improvements but each one is free to use the best workflow for them.

[woodstockmerkle]

One feature that would be neat in this toolkit: taking a WIF, extracting the private key, then being able to use that to generate a new WIF of a different coin.

As much as I’ve walked thru the WIF format (and the cointoolkit code), I don’t quite understand why WIFs aren’t directly usable between coins – where exactly the coin ID is incorporated into the WIF in some way.

The use case would be: for anyone who already has a private key, to generate the “like” private key in another coin. Similar to the custom seed / brainwallet idea, it makes for less secrets to remember / record.

Edit: I wrote too soon. I see the current version has “This is a 64 char hex private key” which can serve this function

[ttutdxh]

Edit: I wrote too soon. I see the current version has “This is a 64 char hex private key” which can serve this function

I have been adding more functions, you have full support to do what you originally wanted following these steps:

• Co to verify tab
• Paste your WIF there and click verify
• Private key in hex will show up.
• Use that hex string under “Custom Seed, Brain Wallet or 64 char hex private key” in the new address tab
• Mark “This is a 64 char hex private key” and click Generate.

[ttutdxh]

@JordanLee motion f99ddf406a32d39be7d614c13dc1ce63c96e4003 passed on Block #613,827 (13 Nov 2015 16:35:29) sets 14 days maximum as the time to allow new members to join FLOT by passing a motion.
That period ends Friday, 27 November 2015, 16:35:39. Around 24h from now.

@crypto_coiner motion is currently 1,748 votes out of 5,000. Even if every block from now until the period ends (24h = around 1440 blocks) votes for that motion, it will not pass in time.

Definitive FLOT voted members: @cryptog, @Dhume, @dysconnect, @jooize, @masterOfDisaster, @mhps, @ttutdxh, @woodstockmerkle

[Dhume]

Would like to hear thoughts from other FLOT members and shareholders about @crypto_coiner joining us at a later date? Maybe @crypto_coiner could be the first to form the FLOT reserve team. This would be a backup group with members that can take over current FLOT members incase emergencies, personal situations or other events (for example underperformance) take place that require a FLOT member to step down. So FLOT has people ready to jump in to guarantee enough man power.

Other than that good to see we can start the next step in FLOT proceedings. So with the current amount of members in mind 7 in total how should we divide this over 3 crypto’s we need to manage? And also how many signers do we want for every currency to release funds.

[ttutdxh]

So with the current amount of members in mind 7 in total

I messed up with the list (sorry @jooize) while ordering alphabetically.
We are 8, now is corrected.

[Dhume]

And I didn’t notice

So 5 man NBT group, 5 man NSR group and 8 man BTC group?

[ttutdxh]

Yes, what should we use for BTC, a 6 of 8 multisig, 5 of 8?

[Dhume]

Hmm…I’d say 5 of 8 even though 6 of 8 is obviously safer I expect the times when we really need to quickly access our BTC the defend the peg (major NBT selling) those few hours extra that last signature could take could be crucial to maintaining our peg.

[jooize]

Without having evaluated it much, 5 of 8 seems safe enough and sounds like a good compromise like Dhume says.

[masterOfDisaster]

Without having evaluated it much, 5 of 8 seems safe enough and sounds like a good compromise like Dhume says.

+1

[masterOfDisaster]

I messed up with the list (sorry @jooize) while ordering alphabetically.We are 8, now is corrected.

Would it help to create an overview will all pub keys per person and currency? And maybe store it on a gist as well to have a backup in case this forum is down?
If this sounds beneficial, I’m going to do it unless somebody beats me to it.
Will be afk for some hours…

[crypto_coiner]

Would like to hear thoughts from other FLOT members and shareholders about @crypto_coiner joining us at a later date? Maybe @crypto_coiner could be the first to form the FLOT reserve team. This would be a backup group with members that can take over current FLOT members incase emergencies, personal situations or other events (for example underperformance) take place that require a FLOT member to step down. So FLOT has people ready to jump in to guarantee enough man power.

Would welcome such role

[crypto_coiner]

JordanLee motion f99ddf406a32d39be7d614c13dc1ce63c96e4003 passed on Block #613,827 (13 Nov 2015 16:35:29) sets 14 days maximum as the time to allow new members to join FLOT by passing a motion.That period ends Friday, 27 November 2015, 16:35:39. Around 24h from now.

crypto_coiner motion is currently 1,748 votes out of 5,000. Even if every block from now until the period ends (24h = around 1440 blocks) votes for that motion, it will not pass in time.

Great synoptical overview.
Will make myself available in a more prepared way next time needed.

[ttutdxh]

Looking forward to that occasion!

[cryptog]

@crypto_coiner could be the first to form the FLOT reserve team.

I will welcome a FLOT reserve team creation.
FLOT is comprised of 8 members. We need more multisig nodes to foster the decentralization of Nu.
@crypto_coiner would be certainly the first member of such a reserve team.

[Nagalim]

I’d join a reserve team if it just means I’m an understudy.