Interesting that someone mentioned pooled mining, since I didn't think of that. Wonder if you can tell how many blocks have been spent exactly one times and then haven't moved after that?
Not sure how pool operators do it - with payout thresholds and all. I suspect it's more than a single move from the block reward to the miner's payout. It would be neat to have code that could query the block chain and plot the number of bitcoins unspent (or spent a certain number of times or less) within a certain time frame (ie, since generation, last 6 months, etc). A 3-D generalized version of this would be very informative. |
|
|
|
This is very informative...should have a mini orientation with tips like that...or should I put this reply in another thread...buried in meta to guarantee no one reads it  |
|
|
|
|
Not a bad idea....good luck!
|
|
|
|
N-N-N-N-Necrobreaker.
I have no idea what that means... Because you're too young. Perhaps. I can't say I remember much of the 70's, but I recall the 80's fondly I don't think anyone *really* remembers the 70's.  Lol...I still don't get the necrobreaker thing though....despite google's best efforts does it have something to do with getting rich? |
|
|
|
A massive cash out could mean it would take many years to recover ones investment.
I think that has already happened several times, though I don't think they were voluntary cash outs. Interesting thread today on the 2 million btc that have been generated but never moved. If all sold at once, the last one would sell for a buck. That's what I mean, it would have to be hacked. Nobody would be crazy enough to sell all their Bitcoin that cheap. If that happened and the 2 million were redistributed, Bitcoin price would bounce back before too long. That event would be well publicized and show that it's not the Bitcoin network that fails, but fools and their money. I think I would sell my car and buy more Bitcoin that cheap knowing that I would buy a new 7 series in a couple months. If the price drops too far too fast, the miners will stop and the network would become less stable...that might allow for an easy 51% attack...not sure if thy would really kill Bitcoin though. |
|
|
|
|
It's interesting that when most coins were spent, the low in price was about a buck (or 2)...currently the price is rising as the percent unspent goes up...but if 2million coins were sold, the price would be about a buck again.
|
|
|
|
To my understanding, using hashed string as a brain wallet carries with it the following risks:
1. The passphrase might be forgotten.
2. The passphrase might be randomly brute-forced by an attacker performing something like a dictionary attack on hashed strings.
--2.5 There could be an unintentional collision with someone who happens to use the same passphrase.
3. The passphrase might be stolen/phished/whatever.
4. Some combination of 3 and 2. Part of the passphrase is stolen, and the rest is discovered through brute force.
(1) is a big concern for me. I intend to keep some savings in bitcoin for a long time, and it's very likely that I will forget the key if it is too difficult to remember.
My idea is to make a list of personal questions, and have the answers be my passphrase. I understand that because of (2) doing so is magnitudes less secure than using a randomly generated passphrase, but using a random phrase would make (1) likely. I wanted to have the key based on facts that will remain relatively significant to me throughout my life.
The list will be semi-secret. I'm not going to show it in public, but I won't worry about keeping copies in several different places, online and offline.
My thinking is that in order to access my BTC, the attacker would either have to know me very well or invest considerable resources researching me. With a sufficiently long list, (2) is less likely, albeit still a possibility. I was thinking at least fifteen questions.
There's a small risk that the attacker will indeed know me well. I need to think of some questions that I'll always remember the answer to, but have never told anyone else and never will. This is easier said than done.
To minimize the risk of someone finding the list and brute forcing the answers they don't know, I'll need to think of multiple questions with a large number of possible answers. Any suggestions? I've also included some "trick" questions, where the nature of the answer is unexpected.
Comments? Anyone with a better understanding of cryptography able to give me some idea of how many questions with how many possible answers would be needed to make this impractical to brute force?
Brute force...With or without a rubber hose? |
|
|
|
A massive cash out could mean it would take many years to recover ones investment.
I think that has already happened several times, though I don't think they were voluntary cash outs. Interesting thread today on the 2 million btc that have been generated but never moved. If all sold at once, the last one would sell for a buck. |
|
|
|
Ah, OK. My cheap XFX 6770 gets around 12-13 Mkey/s with oclvanitygen for your reference.
Wow...I haven't owned a real computer for almost 10 years...just laptops and dinky things. I can't wait until I have both the time and money to build my own systems again. |
|
|
|
|
Too good an idea (one had and discussed by too many) not to happen.
|
|
|
|
|
Thanks!
These will make great demo keys to show people how fast one can turn a Bitcoin into cash. Imagine if the first time you saw Bitcoin, it was by someone logging into Gox, redeeming a private key and selling at market rate...it would be very fast and quite impressive I should think.
|
|
|
|
|
A massive cash out could mean it would take many years to recover ones investment.
|
|
|
|
What hardware are you running?
The crappy type I also just hit my message cap for the hour. I'll send you the next two keys in 4 minutes. Lol. Many thanks! I had vanitygen compiled on my Mac laptop...in my downloads folder, which I emptied literally today. I had been meaning to generate a few more in the near future...I remember what a pain it was to compile on a Mac in the first place. I had the ocl version running. The make files didn't work back then...and I don't know make at all. Effing PM system. Have an email? Pm'd will that work for you? |
|
|
|
What hardware are you running?
The crappy type I also just hit my message cap for the hour. I'll send you the next two keys in 4 minutes. Lol. Many thanks! I had vanitygen compiled on my Mac laptop...in my downloads folder, which I emptied literally today. I had been meaning to generate a few more in the near future...I remember what a pain it was to compile on a Mac in the first place. I had the ocl version running. The make files didn't work back then...and I don't know make at all. |
|
|
|
Smart enough to invent a new currency whose production runs out within the creator's lifetime, but too naive to think that they could ever be worth something? Unlikely.
Try again. The last reward reduction from 0.00000001 down to 0.00000000 is slated to be in about 100 years from now. Ok, whose production effectively runs out in the creators lifetime...but let's not argue the trivial. Etlase2 is right. Are you attempting to assume that the future value of 0.00000001 will be equal to or less than its current value? For all we know, in years 2108-2112 such a denomination could be worth quite a lot. But then of course by then they could have invented lifespan-extending drugs or something. So what do I know. 1 Satoshi probably won't matter to someone who has 10^5 Bitcoins...but I doubt I'll live to see the day where a Satoshi actually could buy something common. I'd love to be wrong, but I think the math is on my side. |
|
|
|
|
What hardware are you running?
|
|
|
|
|
Show Posts
