Support – MultiBit HD v0

Support – MultiBit HD v0

Manual

Installation Guide

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FAQ for BRIT

Wij get a lotsbestemming of rente about our toverfee collection mechanism so wij have waterput together this FAQ to help you to learn more about it. This article remains accessible to all users, but does periodically go into some detail about how BRIT works using broad cryptographic terms.

I’ve heard that MultiBit HD isn’t free. Is this true ?

Not any more! Ter versions lower than 0.Three.0 there is a client toverfee of 1,000 satoshi vanaf spend. This compares favourably with the current miner’s toverfee of Trio,000 satoshi.

At 500 USD vanaf bitcoin this is 0.Five cents for each transaction sent. The price of a latte te a Fresh York Starbucks is about Four USD which equates to 800 sends through MultiBit HD.

There is no charge for receiving bitcoin. Wij bundle up thesis petite amounts so that you pay merienda every twenty sends or so from your wallet.

The revenue generated will go towards further development of MultiBit HD. Wij will also use the funds raised to support upstream projects that MultiBit HD relies upon (such spil Bitcoinj, XChange etc) that would otherwise never see an income.

But Bitcoin is free and open source.

Bitcoin is not free te all cases. Typically transactions include a miner’s toverfee to ensure that they get mined into a block quickly. The amount paid varies according to the gegevens size of the transaction, the age of the bitcoin outputs involved and some other rules.

MultiBit HD is “free” spil te information, not spil te “fecali”.

Bitcoin doesn’t work without the miners but wallets are commonplace

That’s true to some extent. There are many free and open source Bitcoin wallets available. However to make and distribute a high-quality Bitcoin wallet takes a lotsbestemming of time and effort. For this to be sustainable te the long run the developers need to be paid.

MultiBit has bot ter the Bitcoin space since 2011. Ter that time it has seen continuous development and improvement. Back te March 2018 wij celebrated 1.Five million downloads and wij’ve bot growing everzwijn since.

Supporting a aparente metropolis of users and writing fresh features is now a total time job for a team of developers.

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What about funding it through adverts ?

Too invasive. Te común adverts provided by third parties place tracking cookies and educador IP addresses. The advertisers themselves often want to have detailed demographic information. Wij believe very strongly ter the privacy of our users so wij do not want to expose them to this.

Bear ter mind that technical users (including ourselves) tend to have ad-blocking software running and so don’t see adverts introduced te a browser setting and wij personally find in-app adverts to be both distracting and intrusive.

By charging a client toverfee wij can avoid intrusive or privacy-breaking alternatives.

What about paying upfront for it ?

Possible but then wij couldn’t be zuivere Bitcoin. When people download a Bitcoin wallet for the very first time they don’t usually have any bitcoin to arm. Consequently wij would have to ask for payment using a non-Bitcoin mechanism which would defeat the point of having Bitcoin ter the very first place.

Related movie: TIME DEPOSIT VS MUTUAL FUND


There is also the problem of piracy. Merienda a signed, paid-for copy of MultiBit HD is out there it wouldn’t be long before it is torrented. While wij’re glad for this to toebijten (wij release under MIT licence after all) it would mean that ongoing income from sales would be limited.

Eventually it is significant to recall that people from all overheen the world use MultiBit HD and what is affordable to one group of people is very expensive to others. An upfront toverfee would restrict access to Bitcoin to only those who could afford it.

Wij want anyone, anywhere ter the world to be able to download MultiBit HD without having to pay for it.

So what are you proposing instead ?

Wij’re fortunate to be te this position to contribute to the Bitcoin community, and to enable us to keep paying the bills wij designed a way to get income that matched thesis principles:

  • Vereiste be open source under MIT license
  • Fees voorwaarde be utterly low
  • No gathering or selling of information to third parties
  • No in-app advertising
  • Zero upfront cost
  • Vereiste be decentralised speciaal from an anonymous initial voeling
  • Voorwaarde permit income to be allocated to other parties efficiently
  • All communications voorwaarde rely on encrypted messages to prevent snooping, MITM and replay attacks

Can you explain why it is decentralised ?

This is to ensure that the BRIT income could proceed even if the MultiBit.org servers were inactive for some reason. There is no denial of service to users should wij suffer an outage, perhaps spil a result of a denial of service attack.

There is a single, anonymous initial voeling required ter order to supply the payment addresses to the user. Thesis are on a vanaf wallet onderstel.

How does this anonymous initial voeling work ?

During wallet creation a unique irreversible identifier is created and sent to our webpagina. This is stored and used spil goes after:

  • to provide a timestamp lookup facility (quicker synchronization)
  • to ensure that the same toverfee payment addresses are supplied for the same wallet words (restored wallet doesn’t lose toverfee informatie)

So can you work out my wallet words from this identifier ?

Absolutely not. The unique identifier:

  • does not permit us switch roles engineer wallet words or any other wallet information
  • does not permit us to spend or recover bitcoins
  • does not permit us to identify you spil an individual (no IP address is stored for example)
  • does not permit us to track you

For the technically minded, the algorithm for the unique identifier is essentially this:

  • A large stationary prime wasgoed selected spil a salt value
  • The salt is used te the Scrypt algorithm using default values
  • A Scrypt private key is generated deterministically
  • From this an EC private key is derived deterministically
  • An EC public key is derived deterministically
  • The EC public key is then subjected to RIPEMD160(SHA256(publicKey)) similar to a Bitcoin address
  • The outcome is then suitable for use spil a unique identifier for a particular set of wallet words

The salt value for Scrypt is downright different to that used when storing the MultiBit HD wallet so there is no connection inbetween the name of the wallet on your hard drive and that recorded on the MultiBit.org server.

Is this unique identifier secure ?

Yes. It is sent to the MultiBit.org server overheen HTTPS and the gegevens itself is further encrypted using the BRIT server public key embedded ter the MultiBit HD code. This code is part of the digitally signed installer so cannot be tampered with. The response from the server is also encrypted using a key generated by MultiBit HD.

Are the payments collected for every transaction ?

No. That would be a significant privacy leak and the values themselves are near the dust limit for Bitcoin transactions anyway.

So they are bundled up instead ?

Yes. Spil you make a payment spil part of your corriente use of Bitcoin MultiBit HD will keep a count internally of how many times you have created a transaction. When the count reaches inbetween 15 and 25 an extra output will be created of inbetween 15,000 and 25,000 satoshi. The output will be placed at a random position on the corriente transaction making it unclear what its purpose is. Merienda that transaction is sent the payment is made, the count resets and the process embarks again.

Is it the same BRIT address every time ?

No. When you create a fresh wallet te MultiBit HD the unique identifier is sent to MultiBit.org. The response contains a set of 50 addresses that can be used to fulfill a toverfee payment. When the time comes to pay the fees one of thesis addresses is selected randomly.

What if the MultiBit.org server is offline when I create my wallet ?

The BRIT system is designed to be decentralised. Should our server be offline for whatever reason, MultiBit HD has a set of well-known donation addresses built te which it will use instead.

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Could a donation address be used instead of BRIT ?

Yes. If you make a payment from your wallet to a MultiBit.org donation address (such spil 1AhN6rPdrMuKBGFDKR1k9A8SCLYaNgXhty then this will count towards your fees.

So can I donate and avoid the BRIT fees ?

Yes. BRIT has bot designed to permit this to toebijten. There is a button on the Preferences | Fees screen which permits you to make a donation to MultiBit.org which offsets your BRIT fees to that amount.

You mentioned income being allocated to other parties. What’s that about ?

The vormgeving of BRIT permits addresses to be added to the server. Thesis addresses can be possessed by anyone – perhaps developers of the open source libraries on which MultiBit HD depends. By including their addresses (something under the rigorous control of the MultiBit developers) they are able to directly benefit from the success of MultiBit HD. This creates a virtuous circle which benefits everyone ter the Bitcoin ecosystem.

Can I inspect the code ?

Yes. All the payment code, both client and server side, has bot released under the MIT licence for other teams to use loosely. The BRIT Service code and documentation is available for examination on GitHub. The client code is presently within the MultiBit HD repo.

2 thoughts on “Support – MultiBit HD v0

  1. Earnestly tho’, I would just give hier whatever procent she is entitled to by law. Rather that than go through the worry and headache of getting caught lounging about it ter the future.

  2. Ter my country that wouldn’t be a problem because Bitcoin is not regulated and law doesn’t recgonize it spil a money or asset and therefore it can’t be subject or kwestie te divorce. But it’s not ter all countries like that so maybe if you want to keep your Bitcoins just for yourself you should take some precausion measures before get married.

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