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Radio/TV • Declare Your Independence with Ernest Hancock
Program Date:

08-05-14 -- Will Pangman - Bitcoin Security - Tragedy&Hope Fund Raising Project (MP3 & VIDEO UP)

Will Pangman (Chief Communications Officer at Tapeke) on bitcoin outreach, education, and communication. (Video LOADED)
Media Type: Audio • Time: 198 Minutes and 0 Secs
Guests: Will Pangman
Topics: Bitcoin
Guests: Will Pangman
Topics: Bitcoin
Guests: Will Pangman
Topics: Bitcoin

Hour 1 - 3

Media Type: Audio • Time: 198 Minutes and 0 Secs
Guests: Will Pangman
Topics: Bitcoin
Hour 1-3 -- Will Pangman (Chief Communications Officer at Tapeke) on bitcoin outreach, education, and communication

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August 5th, 2014
Declare Your Independence with Ernest Hancock
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Hour 1
2014-08-05 Hour 1 Will Pangman (Video Loaded):

2014-08-05 Hour 1 Will Pangman from Ernest Hancock on Vimeo.

Will Pangman

Pangman is the Chief Communications Officer at Tapeke, a cryptocurrency personal finance platform; the founder of the Milwaukee Bitcoin Meetup, BitcoinMKE; and an active proponent of bitcoin education initiatives in tandem with the Bitcoin Foundation. Through all three of these roles, he has carved out a niche as a premier bitcoin outreach expert.

Article - Profiles in Bitcoin Outreach: Will Pangman (Bitcoin Magazine May 2014)



Anonymous: Fried, Frank got NSA's permission to make this report available. They have offered to make copies available by contacting them at <> or (202) 639-7200. See: 

Received October 31, 1996


With the onset of the Information Age, our nation is becoming increasingly dependent upon network communications. Computer-based technology is significantly impacting our ability to access, store, and distribute information. Among the most important uses of this technology is electronic commerce: performing financial transactions via electronic information exchanged over telecommunications lines. A key requirement for electronic commerce is the development of secure and efficient electronic payment systems. The need for security is highlighted by the rise of the Internet, which promises to be a leading medium for future electronic commerce.

Electronic payment systems come in many forms including digital checks, debit cards, credit cards, and stored value cards. The usual security features for such systems are privacy (protection from eavesdropping), authenticity (provides user identification and message integrity), and nonrepudiation (prevention of later denying having performed a transaction) .

The type of electronic payment system focused on in this paper is electronic cash. As the name implies, electronic cash is an attempt to construct an electronic payment system modelled after our paper cash system. Paper cash has such features as being: portable (easily carried), recognizable (as legal tender) hence readily acceptable, transferable (without involvement of the financial network), untraceable (no record of where money is spent), anonymous (no record of who spent the money) and has the ability to make "change." The designers of electronic cash focused on preserving the features of untraceability and anonymity. Thus, electronic cash is defined to be an electronic payment system that provides, in addition to the above security features, the properties of user anonymity and payment untraceability..

In general, electronic cash schemes achieve these security goals via digital signatures. They can be considered the digital analog to a handwritten signature. Digital signatures are based on public key cryptography. In such a cryptosystem, each user has a secret key and a public key. The secret key is used to create a digital signature and the public key is needed to verify the digital signature. To tell who has signed the information (also called the message), one must be certain one knows who owns a given public key. This is the problem of key management, and its solution requires some kind of authentication infrastructure. In addition, the system must have adequate network and physical security to safeguard the secrecy of the secret keys.

This report has surveyed the academic literature for cryptographic techniques for implementing secure electronic cash systems. Several innovative payment schemes providing user anonymity and payment untraceability have been found. Although no particular payment system has been thoroughly analyzed, the cryptography itself appears to be sound and to deliver the promised anonymity.

These schemes are far less satisfactory, however, from a law enforcement point of view. In particular, the dangers of money laundering and counterfeiting are potentially far more serious than with paper cash. These problems exist in any electronic payment system, but they are made much worse by the presence of anonymity. Indeed, the widespread use of electronic cash would increase the vulnerability of the national financial system to Information Warfare attacks. We discuss measures to manage these risks; these steps, however, would have the effect of limiting the users' anonymity.

This report is organized in the following manner. Chapter 1 defines the basic concepts surrounding electronic payment systems and electronic cash. Chapter 2 provides the reader with a high level cryptographic description of electronic cash protocols in terms of basic authentication mechanisms. Chapter 3 technically describes specific implementations that have been proposed in the academic literature. In Chapter 4, the optional features of transferability and divisibility for off-line electronic cash are presented. Finally, in Chapter 5 the security issues associated with electronic cash are discussed.

The authors of this paper wish to acknowledge the following people for their contribution to this research effort through numerous discussions and review of this paper: Kevin Igoe, John Petro, Steve Neal, and Mel Currie.



Hour 2

Guests: Will Pangman
Topics: Bitcoin
Hour 2

2014-08-05 Hour 2 Will Pangman (Video Loaded):

2014-08-05 Hour 2 Will Pangman from Ernest Hancock on Vimeo.

Will Pangman (Cont'd)

Here are some examples of Bitcoin Paper Wallets:

1.) Mycelium Entropy (Indiegogo Campaign)
Mycelium Entropy is a small USB device that uses hardware based entropy to generate printable Bitcoin paper wallets.

Mycelium Entropy is a small USB device with a single purpose: Making it easy to create Bitcoin paper wallets in a secure controlled environment.

Paper wallets are created in 3 simple steps:

Insert Mycelium Entropy into a printer that allows you to print pictures from a USB flash drive.
Select the print option on the printer.
There is no step 3.

This way the paper wallet has never touched a computer or a network, and as soon as you eject the device the private key is wiped from memory.

Mycelium Entropy is the easiest and most secure way of creating a paper wallet for offline cold storage.

2.) Piper (webpage now moved to

"Paper wallets are universally regarded as the most secure way to store bitcoin""Piper makes creating paper wallets as easy as pressing a button""If you invest in bitcoin ... it could be a lifesaver."

Hour 3

Guests: Will Pangman
Topics: Bitcoin
Hour 3

2014-08-05 Hour 3 Will Pangman (Video Loaded):

2014-08-05 Hour 3 Will Pangman from Ernest Hancock on Vimeo.

Will Pangman (Cont'd)

Here is some information on 2 Factor Authentication and Password Key Management:

2 Factor Authentication (from Wiki):

Two-factor authentication provides unambiguous identification of users by means of the combination of two different components. These components may be something that the user knows, something that the user possesses or something that is inseparable from the user. A good example from everyday life is the withdrawing of money from a cash machine. Only the correct combination of a bank card (something that the user possesses) and a PIN (personal identification number, i.e. something that the user knows) allows the transaction to be carried out.

Key management (from Wiki):

Key management is the management of cryptographic keys in a cryptosystem. This includes dealing with the generation, exchange, storage, use, and replacement of keys. It includes cryptographic protocol design, key servers, user procedures, and other relevant protocols.

Key management concerns keys at the user level, either between users or systems. This is in contrast to key scheduling; key scheduling typically refers to the internal handling of key material within the operation of a cipher.

Successful key management is critical to the security of a cryptosystem. In practice it is arguably the most difficult aspect of cryptography because it involves system policy, user training, organizational and departmental interactions, and coordination between all of these elements.

Here is some information on Bitcoin Wallets:

Here are some Bitcoin Wallets (from Bitcoin.Org):

Choose your Bitcoin wallet
warningTake time to educate yourself

Bitcoin is different from what you know and use every day. Before you start using Bitcoin for any serious transaction, be sure to read what you need to know and take appropriate steps to secure your wallet. Always remember that it is your responsibility to choose your wallet carefully and adopt good practices in order to protect your money.

MadBitcoins How to make Secure Paper Bitcoin Wallets (step by step) (MAC version):

MadBitcoins How to make Secure Paper Bitcoin Wallets (step by step) (PC version):

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