Tier 4 Fund Management Discussion

A post was split to a new topic: Ramp up FLOT operations instead of sudden start?

@assistant motion vote f99ddf406a32d39be7d614c13dc1ce63c96e4003

Hi @jooize

Here are the details for the Motion Vote on f99ddf406a32d39be7d614c13dc1ce63c96e4003:

Blocks: 5077 (50.770000%)
Share Days: 1344682675 (29.219474%)

This, meaning JL’s motion, has passed.

When all the motions to join FLOT pass there will be 8 signers. @erasmospunk mentioned for NBT or NSR the addresses are most ideally 3-of-5, although it seems possible (if rather tricky) to push to 4-of-6. Bitcoin allows up to 15-of-15 multisig so it can handle all of us.

For now I prefer 3-of-5 for NSR and NBT, and we’ll need to form two overlapping groups. There will be 2 overlapping members, who should be the most available and perhaps the most anonymous. Given forum participation I think @masterofdisaster and @cryptog could be in both groups. In that case I’ll propose @dhume, @mhps and @ttutdxh to deal with NSR, where @woodstockmerkle, @jooize and myself would handle NBT.

First we should try to set up an NBT address to get started (at least for testing) and prepare for a takeover from FSRT. I’ll throw in my pubkey for a testnet address:

“isvalid” : true,
“address” : “bDWN25hetBu3efe7jcWBNaDdMFU38ZJ2si”,
“ismine” : true,
“isscript” : false,
“pubkey” : “03be3cc2a51715848833546898c57f3a2d83fd53274eb5c55c04d74615b57bf1bb”,
“iscompressed” : true,
“account” : “”


Your suggested team groups sound good to me.

Can I run two wallets simultaneously to separate FLOT from my private? I would at this time need nud for OS X. I own a Raspberry Pi 1, but need to get an SD card reader for installation. Is an RPi 1 sufficient or should I purchase the RPi 2?

I could install a distribution via a USB stick for the testing phase, and later set it up the way I want for production use. Is Peerbox suitable for this by the way?

I haven’t figured out all the details, but I’m confident I will. How do you intend your setup to be?

Is utilizing a VPS discouraged or out of the question? Availability should be higher, though rarely be a problem anyway (power outages, ISP issues). They’re convenient, but a point of trust of course.


You can run two wallets, the cost is that you need to store 2 copies of the blockchain. If it’s just for signing etc. one should be able to strip away all the blockchain functionality from nud, which would be some work. By the way, if anyone else did a lightweight implementation of the relevant functionalities needed for multisig, please let me know.

I would personally discourage storing your private keys remotely. We’ll aim to put all signing functionality into one lightweight package so we won’t need nud all the time. If anyone’s private key is compromised we’ll move to a new multi-sig address, so there’s some robustness against e.g. losing your phone, but probably won’t help if the keys are quietly stolen by the operators of your remote server.

If you mean for the test-net, you can do anything you want.

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What about BTC?

All of 8 signers. Perhaps 5-of-8 would be the best.

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Alright. Can I do testnet operations through the debug window?

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If you are running on testnet then yes. Otherwise no.

I just found that running nu / nud on testnet creates an entirely separate datadir. So given enough RAM one can conceivably run separate instances on testnet and mainnet with little extra effort. My current machine doesn’t have the resources so I’ll rely on someone else to try it.

Sounds like an RPi 2 is a good idea for me. I want to use the one I own for other things anyway.

I’m taking this to extremes, but the physical access security of the Raspberry Pi would be lower than that of my MacBook.

Another benefit of multisig other than not trusting only one person is that even if my private key is stolen it should be tricky to impersonate me in trying to coordinate a nefarious signing with the rest of the team. That leaves attackers with needing to compromise all x in x-of-y required, and perhaps other vectors I’m not aware of.

I’ve managed to start Nu.app on testnet beside my main Nu wallet. The testnet Nu gets a purple icon.

Open Nu > Help > Debug window > Console and input:


Or use the initial address found under Receive.

validateaddress <address>

My output:

"isvalid" : true,
"address" : "bXdMjZyW58arQ3VxzEYzvwDebr4onfjTUk",
"ismine" : true,
"isscript" : false,
"pubkey" : "02b7fb854452fbe3195fdb92e347ebefbc61b0893fe7719da385e009e3f434d4c5",
"iscompressed" : true,
"account" : ""


Does anyone want instructions for how to do this on Windows and/or Linux?

Could we use Pushover to notify FLOT members when needed?


I need to start downloading the testnet blockchain as well. Will do it as soon as I’m back from my trip.

We need to assess the implications for privacy, but it’s good to see that they support both Android and Apple devices!
It looks very promising!

I think a dedicated sub-forum here would be sufficient.

Having a notification to look into this dedicated subforum would be even better…

You can mark a whole category as tracking and receive mail notifications. It will be very useful for FLOT members.

Let’s create a first FLOT address for receiving NBT here. First we need to do some practicing on the testnet. @jooize is here and I will also be part of the NBT signers. I hope the first 3 to respond to this roll call can join the NBT signer group (also gimme your pubkeys): @mhps, @ttutdxh, @dhume, @woodstockmerkle, @cryptog, @masterOfDisaster. For @crypto_coiner, it may be worth more your time when your motion gets more support.

For the NBT group, please tell me if you’re working with Windows so I can adjust the scripts properly. I’ll make some changes so they can be configured a little more easily.

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I have been working on this thing:

However automatic loading of unspent inputs is not available because I have not found any public API in a NBT blockexplorer, so @dysconnect script (or manual work) is required for now to craft transactions.
Blockexplorer.nu could be added with https://blockexplorer.nu/api/addressDetails/+addr+/1/oldest, adding a Access-Control-Allow-Origin header to their API, but it is not in my hands.

The rest of the features seems to work correctly. Opinions welcome.