added Missive for 2015-03-16

_posts/2015-03-09-monero-missive-for-the-week-of-2015-03-09.md

@@ -11,7 +11,7 @@ forum: https://forum.getmonero.org/1/news-announcements-and-editorials/206/monda
 
 To download the podcast directly please [use this link to the MP3](http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-03-09.mp3), or [this link to the AAC/MP4](http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-03-09.mp4), or [this link to the FLAC](http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-03-09.flac).
 
-A brief summary of the points discussed follows, a full transcription of the podcast is outstanding (can be submitted via [Github Issues](https://github.com/monero-project/monero-site/issues)).
+A brief summary of the points discussed follows, a full transcription of the podcast is below that and was kindly transcribed by goin2mars. You can donate to him for his transcription efforts: 4AzncXEK71uEtNtSKJjaX845XnJr9s7onXYNSBPTB2AGNnPbTjaN5W72qo8YgSSYsLGcr5pTBQkjnE7ADn6XbbHG2CTvvU1
 
 In this week's podcast we cover external projects, with an interview with the [xmr.to](http://xmr.to) team.
 
@@ -59,7 +59,7 @@ Hi everybody
 
 So because of the amount of stuff that we seem to be covering in each weeks Missive podcast we obviously haven't been able to touch on external projects. A recap for everyone that doesn't know what external projects is: it's a section of the missive that deals with projects that are not entirely by the Core Team, they're by members of the community...or anyone, really, that's doing something interesting that involves Monero.
 
-Ok, so you know mymonero seems to be growing in popularity, and obviously one of the concerns that people have had is the ability to...you know, they want to be able to use MyMonero if MyMonero explodes, and they don't want to lose access to their funds, for want of a better term. And obviously they are still in control of their funds, they're in control of their private key, but we do recognise that there is a need for simplewallet to be able to use the MyMonero style keys.
+Ok, so you know MyMonero seems to be growing in popularity, and obviously one of the concerns that people have had is the ability to...you know, they want to be able to use MyMonero if MyMonero explodes, and they don't want to lose access to their funds, for want of a better term. And obviously they are still in control of their funds, they're in control of their private key, but we do recognise that there is a need for simplewallet to be able to use the MyMonero style keys.
 
 So that's something we are working on, and that's something that's something that we're quite close to, but what were happy to announce is the availability of an import wallet function. So if you have an existing simplewallet mnemonic, 25 word mnemonic, you will now be able to import your wallet into MyMonero. However, this doesn't come free - if you've ever done a wallet restore then you'll know that it is a little bit painful, because a wallet restore takes several hours, even on a snappy machine. So for us to import wallets we have to incur a cost purely from a processing perspective, and that has to be handed over to customers.
 
@@ -120,3 +120,114 @@ Right, right
 #### Riccardo
 
 You know, when it comes down to it you've also gotta trust the company you're buying from anyway. So whether you're adding another layer to it...meh.
+
+#### Krongle
+
+This is the same as what everything on the internet before the community as well so you see that people have had positive experiences and the thing hits a critical mass and then you can be fairly confident that it works. you will feel the first couple of users that its just this weird black box that you don't know whats coming out the other end
+
+#### Gingeropolous
+
+Yeah just to mention that as you said its something that we witness anywhere in general because we are to trust the merchant or we are to trust bitpay to actually act as a gateway and not to keep your bitcoin so its just one layer that people i think are quite used to
+
+
+yeah i think the most important thing for me to mention is that there is absolutely no trust involved for anything that is um privacy related so you spend your Monero and we dunno anything more than that.
+
+Gingeropolus
+mhm
+
+#### binaryFate
+
+because Monero is not traceable back so we can really the only information that we know about you is your ip address but if you reach xmr.to through some um anonymous networks like tor i2p then there is not much that we can do even if we were some really bad guys we would like to we couldn't do anything basically which is very nice
+
+Gingeropolus
+yeah
+
+#### binaryFate
+
+no problem for the user
+
+#### Riccardo
+
+i think the one key advantage as well is um most of the you know a lot of the losses that have occurred when in crypto wen people have had to trust third parties have been things like exchanges with they've left money on the exchange and with you guys its straight through you dump Monero in and out pops the bitcoin and there's not really much of an interval in between where things can go wrong
+
+#### binaryFate
+
+yeah
+
+and on that front one of the things we've tried to the do on the user interface is to make it very responsive so that basically you can always see that something is happening so we actually spent like a bit of extra time um on it with a bit of extra development effort monitoring the transaction pool rather than just waiting for confirmation which is our first attempt we realized we were quite keen
+
+that the user gets the sense that things are happening snappily so that you don't feel that oh I've sent my money into the void, whats going on. but you get in fact very quickly get back some sort of notification saying okay we're seeing that somethings going on here what were doing about it and we've tried to make that user experience so right from the moment you send your money to the moment that the bitcoin appears that the other end yourself always being notified in real time whats happening so you don't just get left with this sinking feeling of oh god
+
+
+Gingeropolus
+
+hah hah hah hah yea i did enjoy that part of the experience like i sent my Monero there and all of a sudden you had the screen change and there's was a tracking number and i was like oh OK something is happening
+
+#### binaryFate
+
+nice to know that the effort was noticed. appreciated.
+
+Gingeropolus
+i have a couple of questions about that whole process
+
+#### binaryFate
+
+yeah
+
+Gingeropolus
+for one um, there are some merchant services i believe bitpay and coinbase being two of them i think they have roughly ten minute timeouts on a transaction so if you start a transaction then that amount of bitocin they want you to send is valid for only ten minutes to deal with the volatility a bit. do you wait for enough confirmations from Monero from the blockchain and if so is it within that limit would i have a problem with that?
+
+so basically withing that fifteen minutes i have to send Monero to you. it has to get enough confirmations or you guys to mark it as safe and then you have to send the bitocin and so what toms asking is what are the chances of missing that window
+
+
+#### binaryFate
+
+so what we do is to give the user five minutes time window but what matters and what needs to happen within this time window is just that we actually see the transaction on the peer to peer network. if you send the transaction on time there is literally zero chance that you miss this time window. if you are just connected to the Monero network. and as soon as we actually witness the transaction on the network we stop the timer and we just wait for one confirmation before sending the bitocin. we think that for now one confirmation is way enough and we can take the risk especially because we're still dealing with very small amounts. but because we don't need the confirmation to happen in the time window but only to witness the transaction on the network its very safe for the user because you're practicality no chance to miss it
+
+but in terms of missing the second timeout like the lock on time amount of whoever you're paying in bitocin its quite unlikely if you're snappy on your end as an end users i think that were just benefiting form the fact that the Monero confirmations clock in much faster than the bitcoin confirmations
+
+Gingeropolus
+it sounds like waiting for one confirmation is plenty small time.
+
+even if we eventually want to up that to two or three you're still within, you can get 2 or 3 Monero confirmation well before even one bitocin confirmation so no one in bitcoin world is gonna set their timeout so small because of the slow confirmations
+
+#### binaryFate
+
+if in the future this becomes an issue say bitpay suddenly decides to change this countdown to five minutes instead of fifteen what we could do on our side is to accept a zero confirmation transation which is exactly what bitpay is doing. based on some rules you judge whether the transation is highly likely to be spend and for now its really do it and see for our needs but its something we could do int he future.
+
+
+Gingeropolus
+now if i could ask just one other question. i don't know this one that you probably might not want to answer but I'm curious how does this work on the back end. like can you give any sort of like brief synopsis of that. because I'm curious like do you take the xmr and then go and buy the bitcoin like where does the bitcoin come from in this i guess is the question.
+
+#### Krongle
+
+yeah well, uh, in a way i think its important for the user to know at least one thing this thing is that we don't buy the equivalent of bitcoin right away because that would be possibly weakening the privacy right because you could make some time correlations because poloniex could do for instance we would use poloniex to change the Moneros immediately. for the same amount that was just sent to us. that would be an issue. so we don't do that. we are not sure how in the future how we are going to change them but for now i think  we do it like once a week. so yeah for now in a way .....? and we are still figuring out what the best way for us to go financially speaking but yeah whats important to know is we don't change them back right away.
+
+and the other thing important for the end user to know is we set our maximum based on how much bitcoin we have in our funds so we will never accept an order we cant fulfill basically. if were running low on funds.
+
+
+#### Riccardo
+
+your risk tolerance is based on how much you got in reserve
+
+#### binaryFate
+
+yeah so were exposing ourselves to exchange fluctuations at the moment we just take on that risk and as Jeremy says we need to come up with a plan where we protect ourselves against that.
+
+#### Riccardo
+
+thanks very much for the chat guys and well see everyone next week
+
+Gingeropolus
+yeah thanks for hanging out guys
+
+#### Tom
+
+cheers guys see ya
+
+#### binaryFate
+
+thinks for having us bye
+
+Gingeropolus
+thank you all for joining it was quite a big crowd today, very awesome. thanks all for listening and tune in next week and here's bob with sports.

_posts/2015-03-16-monero-missive-for-the-week-of-2015-03-16.md

@@ -0,0 +1,25 @@
+---
+layout: post
+title: Monero Missive for the Week of 2015-03-16
+summary: Initial DB merge is about a week away, Tippero available on IRC / Twitter / Reddit, English mnemonic bug
+tags: [monero missives, accounts, blockchaindb, external]
+author: Riccardo Spagni (fluffypony)
+---
+
+<div class="text-center"><iframe style="border: none" src="//html5-player.libsyn.com/embed/episode/id/3430948/height/360/width/640/theme/standard-mini/direction/no/autoplay/no/autonext/no/thumbnail/yes/preload/no/no_addthis/no/" height="600" width="600" scrolling="no"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe></div>
+
+To download the podcast directly please [use this link to the MP3](http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-03-16.mp3), or [this link to the AAC/MP4](http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-03-16.mp4), or [this link to the FLAC](http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-03-16.flac).
+
+A brief summary of the points discussed follows, a full transcription of the podcast is outstanding (can be submitted via [Github Issues](https://github.com/monero-project/monero-site/issues)).
+
+In this week's podcast we update the progress on the DB, discuss Tippero, talk about decentralising-all-the-things, and discuss the English wordlist bug.
+
+1. Initial DB merge is about a week away.
+
+2. Tippero has been officially made publicly available, and allows for tipping on IRC, Reddit, and Twitter! For IRC, send a message to Tippero with ```!help``` or ```!commands```. For Reddit, message [/u/tippero](https://reddit.com/user/tippero) with ```!deposit``` for your address, and tip with ```+amount /u/tippero optional message``` in a reply. For Twitter, you can tip with ```+amount @recipient_person @tipperome optional message```. Until Tippero let's you link your accounts across networks you can manually move funds, for eg. on IRC: ```/msg tippero !tip twitter:fluffyponyza 10``` or ```/msg tippero !tip reddit:fluffyponyza 10```.
+
+3. Not everything needs to be in a blockchain, and not everything can be decentralised with our current level of technological advancement. The Monero core team won't crowbar decentralisation into everything unecessarily, especially when it has potentially disastrous results.
+
+4. English mnemonics that contained "incline" or "launchpad" will need to test restoring by replacing "incline" with either "incur" or "inline", and "launchpad" with either "ourselves" or "launching".
+
+Until next week!