Hello and good luck to everyone. @RickDeckard since I am not participating but I find this contest really fun, could I contribute with 160,000 satoshi? Here is the address as a proof of funds (if necessary). I am actually gonna send the entire UTXO, but I just say 160,000 sats for rounding purposes. |
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Now that I am thinking about it a bit more, there is also another risk.
Timelock will indeed not let you spend the UTXOs until a specific date has come, but you are certainly able to spend the UTXOs using coin control. This way, the time locked transaction will become invalid because one of the UTXOs will be spent.
What I mean is, if you are able to create a timelocked transaction you are also able to render it unusable by spending some of the UTXOs that are included in the inputs of the TX.
So time lock will not stop your urge to spend more...
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Hi.
So, if I get it correctly, you want to create daily transactions with timelock, so that you can broadcast each one of them on its specific day?
Something like:
Tx1, timelock for March 23rd
Tx2, timelock for March 24th
And so on?
Technically you can do it, but there are 2 issues:
1. Programming time locks for 40 years on a daily basis is very time consuming.
2. You will need too many transactions if you pay yourself daily.
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Eh, I don't say I like it. I just prefer it over Instagram and Facebook. I know that I have to cut social media off my life entirely, but it's difficult. Sometimes after work I just want to relax for a few minutes scrolling on Twitter or YouTube shorts, it ain't that bad, even though I don't hide from you that I feel bad when 20-30 minutes are passed like really fast and I'm just staring at my phone.
I have made this step 2 years ago. No more social media for me. I love it now, but it was difficult back then. These apps are designed to be addictive. I don't like (but nor hate) the laser-eyes thing either, but wasn't that a thing of the past? I don't remember the last time that I saw a laser eye, to be honest. Maybe Michael Saylor still has that?
Perhaps yes. I have quit Twitter since 2022, so I can't say for sure. Saylor had laser eyes yes. Also Jack Mallers. Some other guys from Bitcoin Magazine too. But as I said, perhaps they have removed the laser beams now  You flatter me, but I'm no expert! Just a hobbyist, like everyone else.  I never said you are an expert, although I think you know a lot about Bitcoin. All I am saying is that you have put effort in order to acquire some knowledge, but the majority of people on twitter haven't put effort at all. They are used to repeating phrases that they find cool. |
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Out of curiosity, don't you all think that X (Twitter) has a strong potential to become the no. 1 scamming / hacking / faking website? It already is. As long as advertisers are willing to pay X a decent amount, they will be approving their advertisement. I'd recently installed X, and the shitcoin shilling is massive. DeFi, meme tokens, yield promising platforms, fake URLs, etc., it's a scam-land. And I wished it was just advertisers; just put an adblock and problem solved. But, there are endless bots which shill the same and even worse stuff in the comments (even NSFW). Good luck man. In my short X life, which lasted approximately 2 days, I was surprised by how much lack of basic knowledge existed there. And I mean from "bitcoiners" too. Some laser-eyed morons who were used to repeating everything they were told. To be clear, I don't have any issues with the laser-eyed avatars, I kinda like it too, but I hate it when people pretend they know something, instead of reading or listening in order to get a more solid grasp of how bitcoin works. I have been studying about Bitcoin for 2 years now, and I am surprised that I still have so much left to learn. It's a pity that on X there is so much misleading, scamming and fake news, even from the bitcoiners' side. I hope that people like you will eventually convey the correct message on X and that you will be able to educate as many people as you can. |
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I retain Bitcoin for my big quantities and prefer to place a little faith in a reputable third party.
What for? I use Wallet of Satoshi for some small payments (say max $50). Is this what you mean? I don't think that using a reputable custodial solution for LN is bad per se, but we must always be aware that since we don't control the sats, they can be lost. So we must use them wisely with small amounts. |
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Now - how not to lose your Bitcoin ?
We need is an encrypted secure Wallet which is compatible with KYC.
What? Seriously? You must be either joking or scamming. I don't know what's worse... By the way, since people will read this post and newbies may be misled, let me make clear that this post shouldn't be taken seriously. |
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Bitcointalk Account: apogio
My vote goes to: GazetaBitcoin, Mame89, Despairo
Notes:
GazetaBitcoin: Is this piece only for you?
Mame89: Looks incredibly delicious.
Despairo: I love purple!!!
Edit (2024-03-29):
PytagoraZ decided to withdraw their participation. As such, I will change my vote for Despairo.
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Out of curiosity, don't you all think that X (Twitter) has a strong potential to become the no. 1 scamming / hacking / faking website?
I mean, I hear this kind of stories all day...
It must mean that they do something really bad there. I realise that people don't use strong passwords and I also realise that 2FA can be spoofed, but still, I don't get it.
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Absolutely, definitely, Bitcoin in self custody.
In my opinion, the order goes as follows:
1. Bitcoin in self custody.
2. Bitcoin in self custody is always better. Bitcoin ETFs.
3. Bitcoin in self custody is always better. Shares of individual companies that hold Bitcoin, like MSTR.
4. Bitcoin in self custody is always better. Shares of individual companies that are tied with Bitcoin, or their work is dependent on Bitcoin, like CleanSpark, Argo, Riot etc.
5. Bitcoin in self custody is always better. Bitcoin on a CEX. This is the worst option in my opinion.
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Two hundred and sixty-first paid. Hopefully everyone has by now regained their ability to walk normally, though that may be optimistic. I will talk about myself here, yes! I can walk! Is it natural that I have started walking backwards though? |
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It's pretty funny if someone buy MSTR is in order to own Bitcoin, if MIcroStrategy bankrupt and Bitcoin price went to $1 Million, people who own MSTR are broke. For traditional investors who own Bitcoin in centralized entity, they need to choose ETFs over MSTR.
Absolutely, but even better, own the real bitcoin in self custody. However, it's definitely true that between the above options, an ETF is better than any individual stock. |
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Microstrategy apart from their business-related tasks and their financial documents, they also need to be highly competitive against the ETFs that exists.
Don't forget that Microstrategy is a company.
They have their shares open on the market, where anyone can be part of the company.
They have decided to follow a Bitcoin-oriented path, which to me seems great. So many people will buy Microstrategy simply because they own Bitcoin and that's a normal thing to happen.
Having said that, they must make people want to own shares of the company, rather than buying ETFs. This is a very difficult task.
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Ethereum has never been user-centric. Their philosophy is worlds apart from that of Bitcoin. It has always been a network where a selected few who belong to the Ethereum Foundation has the say on the future. Just remember the big DAO hack of many years ago when these 'big' players lost. What did they do? They simply clicked the restart button, and it never happened. That same button would never have been hit if you and me lost that money or anyone else of less importance to them.
Not to mention the fact that Ethereum had a huge pile of coins pre-mined and pre-awarded to a selected list of wallets, including the co-founders and the Ethereum Foundation. That's rubbish! The current circulating supply of ETH is 120,077,426 tokens. But, 72,000,000 tokens were pre-mined and pre-allocated to the founders and the Foundation. It's very fair, indeed I wish Ethereum never happened, but it did... Ethereum is a prominent cryptocurrency in this category. After its establishment in 2014, Ethereum underwent a premining process, resulting in the creation of approximately 72 million pre-mined coins. Of this total supply, 9.9% of the tokens were designated for co-founders and early team members, while a similar percentage was set aside for the Ethereum Foundation. The remaining 60 million tokens were offered for sale to the general public.
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I'm no expert either but frankly I don't see how the base security of a random chunk of 128 or 256 bits is hampered by BIP39 representation of it with human readable and easily writable words.
Disclaimer: I still use BIP39 wallets, but the majority of my wallets are Electrum ones. I will derail a little, but the reason why I will do that will be to express an opinion that BIP39 is not bad by default. Yes, there are issues with BIP39, but after all, it still represents a universal way to secure bitcoin, which is addressed to the great majority of people. Bitcoin's cryptographical security is 128 bits. Bitcoin uses the secp256k1 elliptic curve to derive a public key from the equivalent private key. That said, if someone wanted to solve the ECDSA algorithm in reverse order (to derive the private key from the public key), they would need to put an effort that is, on average, equivalent to n/2 = 256/2 = 128 bits. So, there is absolutely no way to get a higher average security than 128 bits. Entropy's security is 128 - 256 bits (but there is catch, because it can actually range from 0 to 256). 12 words in BIP39 is a representation of 128 bits of initial entropy (like you said). 24 words in BIP39 is a represantation of 256 bits of initial entropy. A sequence of bits (entropy) when it's gathered from a good entropy source can be as high as 128 or 256 bits. A sequence of bits (entropy) when it's gathered from a human brain can be as low as 0 bits. Final notes:- 12 words in BIP39 is more than enough, security-wise, provided the entropy is produced from a good source. The problem (if any), lies in PBKDF, which produces the seed from the mnemonic phrase. People say that this can reduce the initial entropy. I silently agree with them, but I a need to educate myself more before writing something here.
- We are doing multisig, passphrases etc., in order to avoid human error as much as we can, or in order to avoid the chance that a thief can compromise one of our backups and retrieve all of our funds. I could theoretically have a 5-of-5 multisig vault where all the cosigners are produced from different, good sources of entropy. I could also make sure that nobody had access to any of these cosigners. Then, I could send some funds to one of the addresses of this vault. Then, an attacker, would still need on average 128 bits of effort to create a script that unlocks my funds on that address.
- It is expotentially easier for a wallet to be compromised by human error, rather than by compromising bitcoin's cryptographical security.
- The private key cd6357efdd966de8c0cb2f876cc89ec74ce35f0968e11743987084bd42fb8944 looks like a random hexadecimal number. If you try to solve the ECDLP backwards, you will indeed need 128 bits of effort to retrieve this private key from the corresponding public key. But if you try something more sophisticated, you will very easily realise that this private key is the sha256("dog"). So bitcoin can give you 128 bits of security but you are responsible not to make stupid moves to diminish this security.
- The most important thing in bitcoin is the backup system. This is where security lies. This is where people lose funds from. If you create a wallet using a reputable entropy source on an airgapped device, write down your seed phrase (12 words) twice, and then store the 2 pieces of paper in separate locations, the only way that you can lose funds is if someone finds these backups. So again, it won't be the BIP39, nor Bitcoin to blame. I t will be your (or better say, our) inability to find a secure place to store our seed phrase.
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We need an enthusiast who would like to analyze the block through data parsing
Oh so you are looking for a blockchain analyst. Most people (me included) absolutely hate blockchain analysis and believe it leads to censorship. So my guess is, you will not find a lot of people who share your thoughts and needs in this forum. Good luck with that! Cheers. |
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BTCROTHERS!
Are there any warriors among you??? Are you ready to take on the challenge, go on an adventure and explore old horizons? We need a guide who has been inside the core and who knows, not from stories, what it is, who has fought with a python. I will give you silver for your bravery. Thank you for your attention.
So what do you need? A bitcoin developer who can code in python? Since your post is completely allegorical, I think we need a bit more info from your side. By the way, if you request for a developer, you should open the thread in the " Services" section. |
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Why would anyone want to make a brain wallet in 2024?  I know that there is no practical use for this, but I'm not even sure whether there is any educational value in playing with brain wallets anymore. Unless you want to check how fast brainflayers can swipe any coins you insert in one made from a particular string of text. (No seriously, people are investing a lot of resources into that. Maybe they even have GPUs for that purpose.) I have explained why I implemented it. A user asked me to do it and it was very easy, so I just posted the solution. As far as educational value is concerned, well, let's say I couldn't ignore the user who asked me to write the code for that. Anyway... I couldn't have been more vocal about how nobody should add money to a brain wallet. I even added the warning at the top of the post.
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Warning:I am placing it here, at the top, to make sure you will see it. Use this script only for fun. The human brain is by orders of magnitude inferior to the dumbest computer when generating entropy (randomness). Background:I was asked to develop a brain wallet generator in Bash. So, I used most of the code I wrote in BASH21 and I slightly changed it to take a phrase as command line argument, to use it to generate the wallet. Prerequisites:sudo apt install base58
sudo apt install xxd
sudo apt install qrencode
#! /bin/bash
###############################################
################# FUNCTIONS ###################
###############################################
calculate_checksum(){
prefix=$1
value=$2
suffix=$3
s1=$(echo -n "${prefix}${value}${suffix}" | xxd -r -p | openssl sha256 | awk '{print $2}')
s2=$(echo -n ${s1} | xxd -r -p | openssl sha256 | awk '{print $2}')
checksum=$(echo ${s2} | head -c 8)
echo ${checksum}
}
hash_160(){
input=$1
sha=$(echo -n ${input} | xxd -r -p | openssl sha256 | awk '{print $2}')
echo -n ${sha} | xxd -r -p | openssl ripemd160 | awk '{print $2}'
}
generate_p2pkh(){
hash160=$1
checksum=$(calculate_checksum "00" ${hash160} "")
echo -n "00${hash160}${checksum}" | xxd -r -p | base58
}
generate_p2sh(){
input=$1
hash160=$(hash_160 "0014${input}")
checksum=$(calculate_checksum "05" ${hash160} "")
echo -n "05${hash160}${checksum}" | xxd -r -p | base58
}
print_keys(){
echo "Entropy: "$1
echo "PK: "$2
echo "WIF: "$3
echo "Public Key: "$4
echo "Compressed Public Key: "$5
echo "HASH160: "$6
echo "Legacy Address: "$7
echo "Segwit Address: "$8
}
print_qr_codes(){
qrencode -s 6 -l M -o legacy_address.png $1
qrencode -s 6 -l M -o segwit_address.png $2
}
###############################################
################# MAIN ########################
###############################################
# CONVERT ENTROPY TO WIF KEY
entropy=$1
pk=$(echo -n ${entropy} | openssl sha256 | awk '{print $2}')
checksum=$(calculate_checksum "80" ${pk} "01")
wif=$(echo -n "80${pk}01${checksum}" | xxd -r -p | base58)
# CONVERT PRIVATE KEY TO COMPRESSED PUBLIC KEY USING OPENSSL SECP256K1
public_key=$(openssl ec -inform DER -text -noout -in <(cat <(echo -n "302e0201010420") <(echo -n ${pk}) <(echo -n "a00706052b8104000a") | xxd -r -p) 2>/dev/null | tail -6 | head -5 | sed 's/[ :]//g' | tr -d '\n' && echo)
x_coord=$(printf ${public_key} | cut -c -66 | cut -c 3-)
last_byte=$(printf ${public_key} | cut -c 129-)
last_int=$(printf "%d" 0x${last_byte})
is_odd=$(expr ${last_int} % 2)
if [ "$is_odd" == 1 ]; then
compressed_public_key=03${x_coord}
else
compressed_public_key=02${x_coord}
fi
# CONVERTING PUBLIC KEY TO COMPRESSED LEGACY ADDRESS
hash160=$(hash_160 ${compressed_public_key})
legacy_address=$(generate_p2pkh ${hash160})
segwit_address=$(generate_p2sh ${hash160})
# PRINT DATA
print_keys "${entropy}" ${pk} ${wif} ${public_key} ${compressed_public_key} ${hash160} ${legacy_address} ${segwit_address} > data.txt
print_qr_codes ${legacy_address} ${segwit_address}
Create a .sh script file anywhere on your computer: Copy paste the code and save it. The easiest way is with nano: nano brainwallet.sh
<paste the code>
Ctrl+o (save)
Ctrl+x (exit)
Make it executable for the current user: Run it: ./brainwallet.sh 'apogio created a brainwallet generator using bash' 1. A file data.txt which includes the sensitive data (keys etc.) of the wallet. 2. A file legacy_address.png which displays a QR code for the wallet's legacy (P2PKH) address. 3. A file segwit_address.png which displays a QR code for the wallet's segwit (P2WPKH-P2SH) address. data.txt file format:Entropy: apogio created a brainwallet generator using bash
PK: 913fc1abf77ae447c662cbd14a0803e519df65f8c40b3bcb20a911f0f31091dc
WIF: L264Cp6WU73fzmQCvJ8Te2EazXTr3A17yAC13NQDQBwQvyUAaiG3
Public Key: 04582ed090da2d4e4fda943923910a0720391a9903fa5259aa9d50cf3710ed40bbc6ce378a86ab86f2b2d6635e8797e9c4fa2021eff4f57942c22395d7ad1afe83
Compressed Public Key: 03582ed090da2d4e4fda943923910a0720391a9903fa5259aa9d50cf3710ed40bb
HASH160: 8ef81d4f19a7f284e68b32dd58931c6817ceb275
Legacy Address: 1E2xBY8kVhGgNZuRK8RwbvimpeW1E6DPat
Segwit Address: 3MpZWJr5ct3Y4zEeSmbA1R17vj2RrRhfNw
1. I don't encrypt the sensitive data, like I did in BASH21. It's one more way, from my side, to convince you that this script should be used only for fun. 2. Make sure to use single quotes to include the phrase. Otherwise Bash will think that each word is a separate command line argument and the results will be totally unexpected. 3. Make sure to remember that in brain wallets, every character matters. Thus, 'I am the best' is different from 'i am the best', or from 'I am the best '.
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