This is not true. While some security is established by the amount of time required to get a confirmation, an attacker with a given hashrate will have a much higher probability of double spending a 1-confirmation transaction in a 10 minute block-time chain than a 10-confirmation transaction in a 1 minute block-time chain. Meni Rosenfeld showed this mathematically: https://bitcoil.co.il/Doublespend.pdf The trade-off as far as I can see is that with a higher rate of block generation, latency wastes more work, leading to lower difficulty for a >50% attack. For a POW network with a 62.94 TH/s hashrate like bitcoin, a 10% decline in the difficulty of pulling off a >50% attack is probably tolerable, and worth the gain in more quickly secured transactions. That all does sound inline with my knowledge as well but I think the conclusion in the debate as i remember it ended something like "its more profitable to mine the bitcoin blocks than it is to attempt a 51% attack as most retailers, casinos, and other big businesses won't allow you to run off with something until all 6 confirmations are confirmed which would be about the worth if not more than the hiest and if it isn't then that business is just ignorant and stupid for not waiting for all 6+ confirmations. |
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I haven't read many posts but i believe that this has been debated before that if you have faster block creation you need more confirmations to compensate for security, so basically you will always have to wait the same amount of time to get the current 6 blocks confirmation security, The only gain from increasing faster blocks is faster progress reporting of when your full security will be locked into place which is pointless almost.
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It seems I forgot about a huge donation that one generously made and got side tracked into doing paid projects to pay off all my usd debts... well I'm square as far as the debts go and it looks like I should go about giving back to what has been given, I've already talked to that said entity and I plan to begin writing code officially in June, There is also talks of getting a hosting service involved that will provide one click installations specifically for this project but details are getting sorted out. Wish us luck and leave all "detailed" and "practical" requests below. I won't respond to most any thing until june so don't ask big questions just write big lists of what you need and want, diagrams are perferred, flowcharts will help get your point across, use descriptive and precise words and you'll get your features Cheers!
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I really don't understand what you're trying to do. Are you trying to make your own custom client that communicates with other clients? If that's the case, look into how bitcoin communicates with other clients over tcp. Alternately, run your own bitcoin instance and query that. That is it, I've been considering making my own personal client for learning and I know i've asked this before but got around 10-15 frustrated people wondering what i was talking about I believe they referred me to that page you showed me as I've seen it 1000 times and have it booked marked but I needed someone to say "This is the points of interest for what your accomplishing" instead of "Here is a full page of everything about bitcoin here ya go!", so now I know where to look and I know others were asking this question as well and seem to be in the same state of mind as me on how to go about this. thanks this is what in needed  |
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Like how do I "ping" a peer with out username/password over a network?
I know the current Bitcoin client does it, It can't just query it self, where would the Blockchain sync download come from?
So how do I as my own Bitcoin client query BitcoinDevkit.com node for block information?
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The first sync is almost done I say one more day it needs about 10,000 more blocks to finish.
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How does one ping a peer for new blocks?  Is it TCP commands RPC what? |
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I love how my original project Mining Farm gets Forked into SimpleCoin then SimpleBTC, So great  Good luck with the project |
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It seems Bitcoin is constantly shutting down when it hits the memory limit (512mb) I think its becuase it is still syncing, I hope there won't be any problems after the full first sync happens.
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The NGinx transfer has been completed the examples work and the script shop (Unlock practical scripts) seem to be working on my end, let me know if any problems arise! and I think I like NGinx now that I've gotten use to it coming from a apache2 background. I'm saddened by the fact developers on here need RPC calls compiled into a fancy package for them.
Why? Do people have to be experts in programming to program a Bitcoin website? I would say yes, if they are handling other people's Bitcoins for them, but otherwise, why not develop tools that make working with Bitcoin easier? I am thankful that Xenland has taken it up on himself to develop this set of tools. SgtSpike Gets it!  |
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Decentrizlise your internet and bitcoin can't be shut down..... that means use Cellular, Satellite and a ground line.... if one fails switch to the other, they can shut them all down or all business ceases and people get pissed. |
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Also I'm moving from apache2 to ngix so if you can't reach the website don't worry your purchase is safe as long as you save the url link of your receipt you'll be able to download it once the website is back up.
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Okay so I have updated the website, fixed some spelling errors, and uploaded the first purchasable example script pack for example 1. It's nothing too fancy but after all you can't display a whole lot with "Generating a Bitcoin address". So the idea is I sell a few examples, you let me know how you like or dislike them all constructive criticism is welcomed(although sometimes I'm not sure how to respond to some of these criticisms around here sometimes hehe). Anyways if you want to know how to properly use the "Bitcoin Generate Address function" with the BDK php library then go to the following link http://www.bitcoindevkit.com/examples/example1.phpscroll down and click "unlock practical source code" and purchase your first example scripts for 0.05 BTC ($3 at current price of $68/1Bitcoin) *Future updates for scripts ---Example scripts for every API function of the Bitcoin/BDK library ---Advanced scripts for the higher level functions that will include fully deployable demos complete with everything you would expect HTML, PHP, BDKphp, and Bitcoin If you even feel the need that you liked my library and don't need the source code examples and feel like donating, just purchase the scripts instead it helps with testing and you know your Bitcoins "are" going some where. Thanks for everyone supporting me and contributing, We as a BTC community are doing great, lets' show'em what " The People" really means! |
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If drugs are a chemical which, essentially everything is, everything evolves you and this may be a fallacy but if everything is a chemical and its safe to say that non drug users evolve just as fast, if not the same rate as people who take drugs as well as everything in universe being known(if at all possible), its safe to say everything is evolving and perhaps might be more correct to say that "Everything is evolving". -- Mind fuck
But if everything is evolving and known, its not safe to say that everything is observing reality and the everything that is evolving can't be known.... there for Life(You/Everything) = Unknown or in math "undefined".... "It just is...."
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These seems to be a group of people that is distributed at what appears to be a global scale where they thing they can just plug stuff together and expect it to make life progressively efficient, or long lasting in some way. I like to call them "Lets attach a tree to humans at the biological level so that they can live in space with out oxygen mask"..... type of people... Anyone else know what I mean? I'm sure there are other more relateable examples I could think up thats just the gists of it. Is there already a word for these people? Maybe we can call them "Mashup Progressives"... IDK....
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I believe litecoin has the same API as Bitcoins so my BDKphp library could help, I can't say I've tested it on litecoin your welcome to try. It should work 100% in theory though; http://bitcoindevkit.com |
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Not publishing transactions for X hours/minutes or setting an execution time in the future that would allow to cancel the transaction would help against "fat finger" errors. It wouldn't help against someone holding a private key without changes in the way transactions work - once someone has a private key, this person can do whatever they want with the coins that are associated with it.
You can arbitrarily limit yourself but not a determined attacker.
Greats valid points! The best bet would be not to hold any bitcoins on the wallet and just hold the "rawtx" signed data on the wallet that are awaiting to be sent. |
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Upgraded the Bitcoin client to 0.8.1, to the new hosting server at BitcoinDevKit.com and now the examples work  (I only tested example #1 for the upgrade) http://www.bitcoindevkit.com/examples/example1.phpEdit Update: Looks like all the examples work! Some updates coming later today are: *A purchasable example scripts for example 1 comes with 3 scripts(Not counting the complementary script and the "with out comments" versions of these scripts) One script is an advanced script The other two are simpler usages but highly informative. |
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At first PG is a creep, then freaky, then you realise he knows his limits, then he's funny from this point on.... PG in a nutshell.....
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