3 Questions From Potential "investor" :)

Discussion in 'Questions' started by PaperUnicorn, Dec 21, 2017.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. PaperUnicorn

    PaperUnicorn New Member

    Dec 21, 2017
    2
    0
    Poland
    Hi,

    I'm very interested in Decred and I must admit that I love the philosophy behind it! Would anyone be so kind as to answer the following questions please? I would really appreciate that!

    1) Is there any easy way to create a Decred address + priv key pair? I'm looking for a minimalistic script, preferably something in Python or GO that would generate that. I'm not a big fan of web-based paper wallet generators - I'd prefer to do that completely offline and via console script

    2) Is there any risk that address + priv key structure may change in the upcoming future (I'm worried about private key becoming invalid during long-term investment)

    3) I've searched Android store and couldn't find any Decred wallets there, basically nothing suitable for micro-transactions via mobile. Is there any particular reason why there is no such app yet?

    Thanks!
     
  2. David

    David Sr. Member

    Jan 22, 2016
    364
    207
    Male
    USA
    Hey there, and welcome to the forum. See my answers below.

    1) The core Decred software includes command line tools and you can download and run them in an offline environment like you are seeking. You can find them here. The download includes 3 main executables - dcrwallet is the one that you will be interested in. First you'll need to create a wallet, then you can incorporate the address generation command into any of your scripts.

    2) I am not involved at all with the development of the project but I would assume there is no risk of the structure changing in the future.

    3) I don't believe there are any mobile wallets yet. However there are a couple different desktop GUI wallets.
     
  3. jet

    jet New Member

    Jan 29, 2017
    84
    16
    Web
    Welcome!

    1) Check https://github.com/decred/dcraddrgen

    2) If your private key ever becomes invalid, that would mean holders who does not manage to spend their DCR in time are screwed. This is a terrible and unlikely scenario. What can and will change are consensus rules via hardforks (where Decred excels), but any change that makes old coins unspendable would be a disaster. Decred is the last project I know that would do this to ruin their ethics and trust. I expect the stakeholders will never vote for it, at least not without some open ended program to swap old coins for new coins.

    Having that, Decred is still new tech in active development, unlike somewhat-stabilized Bitcoin. I strongly recommend not forgetting about your investment in any crypto for long periods of time. Look how some ShadowCash holders got screwed for not swapping their tokens in time. Again, Decred is the opposite of that project by ethics and skill. It is a general warning that crypto investment shall not be left without attendence for long.

    3) Decred on its own is similar to Bitcoin but with fixed governance. On-chain fees will likely remain unsuitable for micro-transactions use case. However, Lightning Network is in active development and could allow very cheap and small transactions in future (my personal bet 6-12 months). And in any case, Android wallet is not implemented yet, but the groundwork is already happening (SPV).
     
  4. PaperUnicorn

    PaperUnicorn New Member

    Dec 21, 2017
    2
    0
    Poland
    I'm sold! Thank you!

    BTW: Just in case you might be interested - I'd be more than happy to help with English -> Polish translations and optionally with some UX / graphic design stuff as well. I'm "New Media Arts" student, and DBA by trade.

    I tried to sign up for Slack, but getting "Automatic Slack invites are currently not available" message...
     
  5. jet

    jet New Member

    Jan 29, 2017
    84
    16
    Web
    That would be great.

    We lost automatic Slack invites after it reached 5k users, now in invite-only mode.

    PM your email to existing Slack user, e.g. ay-p (developer) or Emilio (BR community manager) or me (random guy) to request an invite. I just picked forum users that were active recently. Team members listed here.

    Alternatively you can join IRC #decred channel on freenode and ask for invite, it is bridged with Slack #general channel.
     
  6. jet

    jet New Member

    Jan 29, 2017
    84
    16
    Web
    One more thing, chat infrastructure is under development right now, here you can also see how to join via Matrix https://www.decred.org/community/ and RocketChat, there's also Discord. But I recommend getting to Slack in any case, most amazing discussions happen there atm.

    Once you're there, head to #international_ops and #dev channels for translations, and #recruiting to see if you can "get hired" by Decred :)
     

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