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About DavyJones

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  1. I believe that this would most likely be the reaction of the internet folks. Still no idea what would happen to the ledger itself.
  2. No. Most people are not in it for the tech. They just want to safely store their investment and need an easy to use interface for that. The Ledger Nano is an affordable piece of hardware and probably one of the most secure ways to store crypto. It’s even quite convenient. I have no problem to set a trustline, but my private key will never be exposed to the outside world in any way. That‘s the whole point. The process to set a trustline is of course straightforward and well documented and I pretty much know what to do and how to really make sure that the key is never exposed in any way, bu
  3. Well then again it boils down to the question how to claim the tokens. If it involves messing with your private key or some other technical stuff that most people don‘t understand then nobody will do it.
  4. I wonder if it has something to do with this: https://www.ledger.com/updating-the-bitcoin-app-to-enhance-security Sounds a bit different, but maybe there is another undisclosed vulnerability ...
  5. Is there any information about how to claim the tokens? If it involves setting up a trust line like for the Allvor airdrop or messing with your private key (potentially exposing it to the outside world) most people will certainly stay away from it.
  6. Ripple just holds his zerps in a multi signature wallet. They fund his „tacostand“ account on a regular basis. He moves the XRP from this account to another account and buys Bitstamp USD IOUs on the XRP ledger every day.
  7. I just calculate it in excel and send the final number (gain / loss) to the tax authorities. The first time I did this they requested a detailed report and I sent them a lot of pages (csv export from the exchange). The second time it went through without further questions.
  8. I fully agree and it was one of the main reasons for me to never buy any Bitcoin.
  9. That is most likely correct, but this has to be implemented on the client side banking frontend: The GUI / website where you log in with your password.
  10. No. A brute force attack is not practical. There is not enough energy in our universe to reliably guess the key with the currently available hardware. 1. Yes. If you feel paranoid you can use 5 or even more keys. 2. You should use 2FA whenever possible. Most exchanges and many mail providers offer it and it would be stupid not to take advantage of the extra security.
  11. Plan for beginners: Set a price target Wait and stick to your plan no matter what the market does Sell when the price hits your target Buy back after the price corrected over 80% Advanced Plan: Set 100 price targets Wait and stick to your plan no matter what the market does Sell when the price hits a target Buy back small amounts when the price corrects over 80% Buy back more at -85-90% Professional Plan: Study the market and learn technical analysis Pay people on the internet to teach you their secret stra
  12. According to your blog a sidechain is "a separate blockchain that is attached to its parent blockchain". I strongly disagree that Bitcoin is "the parent" of the XRP Ledger. This implies that the XRPL was created to piggyback Bitcoin, but in fact it was just designed with interoperability in mind (you mention this, too) and does not depend on Bitcoin in any meaningful way. Of course XRPL can be technically used as something that behaves like a BTC sidechain, but this is not its main purpose.
  13. I agree, but the law is on their side and they will just take your money sooner or later when you don't follow the rules.
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