Bitcoin Forum

Private? Nada

Secure? Nada

Fast free transmision of money? NOT, try $24 fee, for $4 coffee

Anonymous? NOT

Safe? Hell No, exchanges have stlolen billions of real cash

51% p2p good people ? Hell, no BITMAIN owns +90% of the mining hw used on earth

Honest? Hell no the collapse of the recent crypto parabolic-rise has evaporated almost $1 Trillion USD of real wealth

...

In summary there is NOT one thing, one promise that bitcoin PROMISED that has been made good, it turns out that every reason for using bitcoin was a LIE, even the founders like "Craig Wright", are saying "Only child molesters, need be anonymous", hell this guy say's he was a Libertarian, and sees the "Satoshi Vision", but now he quacks like a TSA duck, and of course NO ACCIDENT that all algo's in BTC are NSA by choice.

Everything about BTC was a LIE, and now even the whales and FOUNDERS are admitting that all the promises were always bullshit.

 You know what's bullshit?  A FOUR dollar cup of coffee!

 

did someone force you to buy bitcoin? NO

did someone force you to be here on a "bitcoin" forum? NO

is your time worthless? apparently yes

are you benefiting from nonsense posting here? most probably yes

Little people clamoring for 'regulation', Ripple steps forward with corporate/fascist GOV 'regulation', Ripple becomes #1 last crypto standing, little people celebrate the loss of BITCOIN and the Freedom of Slavery.

IMHO Bitcoin never had a chance, it was proof of concept, it was first,  but somebody wanted to put a very bad taste into the mouth's of people who clamor for freedom, privacy, safety, security, and anonymity;

What has come out from the fall of BTC is a CALL for pure crypto-fascism.

Even the HODL-ers and normal speculators, a great majority on this forum say they don't care about basic rights, that only getting rich matters in life.

So there you have it a FASCIST GOV corporate/USA/CIA-NSA imperial power that promises you all to be rich, all you return is that you get on your knees and stay there.

there was neveer $1 trillion of real wealth
i can make a 5trillion altcoin and with just $1 make a cap $5 trillion.

this does not mean that there is was or will be $5trill of real wealth.
nor does it mean bitcoin ever lost $1trill of real wealth.

bitcoin is just buyer to seller
if a seller has 0.1btc then a buyer pays $400
that trade had $400. and once it passs hands its passed.
that money is not all hoarded where there is a capital account to back all bitcoin
there is no big money pot of cash.

i feel that btc-room101 just doesnt understand bitcoin as proven by his lack of understanding of the basics.

These sort of topics always pop up in dump times, just like the 'we are the wealthy elite' topics in pump times. As always, some of you guys will learn to see the big picture and most of you will keep repeating the circle of pain. Sorry for your loss.

How much was bitcoin when it started and how much was ethereum too when it was lunched. If you look at this and make your calculation you will see with me that the money people claim to be theirs were gotten from the system.

Please, if you are tired of it, you can quit and don't come here and add salt to the injury we already have. We are trying to be calm .

The current market is so bad, the effect of so many factors makes it worse than ever. Bitcoin and Cryptocurrency are steadily decreasing each day, and I think the mayor will end up really. A school that is so easy to evaporate makes things worse than ever.

Did Bitcoin promised to be private? It was supposed to have transparency in transactions. And yes, Bitcoin is secure. There is no hacking to the Bitcoin blockchain. Hacking of exchanges is the security problem of the exchanges.

Its design was never to be private and anonymous. It was designed to be public/transparent and pseudonymous.

Credit card and check payments can be reversed weeks or even months later. With Bitcoin, 10 minutes -- or a few hours -- for a confirmed, irreversible payment is far superior.

How is it insecure? ECDSA is not broken. We don't see majority miner attacks. Who can steal funds outside of user security lapses?

ECDSA is not broken. I am a full supporter of Bitcoin but I will point out that ECDSA has weaknesses that have caused problems with allowing coins to be stolen. If the same nonce value is used on two signatures, the private key can be computed from signatures stored on the blockchain(this was the part of the transaction that SegWit moved storage of, so signatures were not counted as part of the 1MB block limit). Quite a few coins have been stolen this way, and reputable wallet software MUST be used to avoid this problem.

This has happened a few times in the past and some people use bots to scan the blockchain for this. Not reusing addresses or using good wallet software stops this, it is also how the playstation 3 private keys were found. In this case, no amount of account 2FA will save you, a hardware wallet wouldn't if nonce values were reused, though any reputable HW wallet manufacturer such as the ones we know and love ensures this is not a problem nor has it been a historical problem with any HW wallets we know.

I am betting next-generations of Bitcoin malware could sit quietly and fuck with the PRNG on your system to leave you open to scenarios like this or bad browser RNGs causing problems in some web wallets.

This vulnerability in ECDSA has happened with Blockchain.info before:

https://www.reddit.com/r/Bitcoin/comments/2onl1y/at_least_hundreds_of_coins_were_stolen_from/


https://bitcointalk.org/index.php?topic=271486.0/


https://www.reddit.com/r/netsec/comments/7hknoo/the_bitcoin_blockchain_and_ecdsa_nonce_reuse/

Bitcoin is currently secure. ECDSA is not broken but has weaknesses that developers must account for. Also, I think updates will be needed due to the risks of quantum computers in a few years. I will never say its infallible, as all technology has security risks, and I love Bitcoin, but PoW is a waste of electricity. I like that I can send money with no government oversight, move wealth around at high speed, have control of my cash. The general public has not yet reached the level of responsibility needed to 'be their own bank', and Bitcoin I do not think will replace traditional money for a long time but will operate alongside the financial system. I fully accept any Bitcoin holdings I may have may go up/down.

FUD or Rose Tinted Glasses all cause harm to Bitcoin. People had years in which to solve the capacity overload of Bitcoin, and spent months bickering in forums while Bitcoin entered the mainstream in 2017 and the Joe public fully felt this problem and it is what seeded my first doubts about mainstream adoption. I was in full support of SegWit being applied ASAP. What the joe public saw, high fees, slow transactions, and volatility may very well have hampered adoption, as once the joe public is burned once, they do not like to be burned twice. Bitcoin is no scam and is a genuine P2P electronic cash system, but how to convince the public of that when all they see is community interests, rose tinted specs or FUD?

Nearly all my friends went from thinking Bitcoin had a future, were interested in it, to Bitcoin is not stable, slow, unusable as cash and WENT BACK fully to fiat and have not given it another thought. I think there is chance for future adoption, but it needs to work hard to restore PR, and this is the communites job.

I definitely agree. I think that's the general plan when ECDSA is broken -- hard fork to a quantum-resistant signature algorithm. I also think it would be possible to implement Lamport one-time signatures with a backward compatible soft fork in the meantime, similar to how Segwit was implemented.


It's not necessarily a waste if you consider what it might be replacing. The banking and gold minting industries consume immense amounts of energy.

I'd love to see an economically viable blockchain that can compete with Bitcoin's security while consuming drastically lower amounts of electricity. Unfortunately, nothing like that exists yet.

I am still very happy with bitcoin, although many people think that bitcoin is very detrimental, because according to the power of bitcoin is a very profitable investment.

you can not show anything to someone who has closed his eyes and refuses to open them.

it would be like  wanting to show a drawing to a blind person. except that the blind person might want to listen and use his other senses but someone who has intentionally closed his eyes is not.

To be fair you have a point on the PoW thing, it is miles better than PoS in any case or what is currently on offer. I did like the Proof of Importance algorithm used my XEM / NEM, which I think is a good alternative and it solves many of the problems PoS has:

https://cryptoslate.com/nem/


I prefer this to PoW, but you do have a point on PoW.

Your mention of a soft fork and the one-time signatures is actually a great idea. I would suggest that any fork regarding ECDSA being broken should be done before (i.e when QC become mainstream) and I wonder what will happen to some of the old addresses that have not had funds moved since 2009 for example.