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141  Bitcoin / Development & Technical Discussion / Re: The Lightning Network node experience on: November 15, 2021, 11:43:46 PM
3) My rebalance script targets 2M sats on each side; just makes the scripting easy with no small channels.

What does your rebalance script do? Does it adjust fees once one side of a channel reaches a certain point? Or does it send a invoice to yourself that is paid to a channel with a high balance to a channel with a low balance?
142  Economy / Economics / Re: Everything you wanted to know about BTC futures but were afraid to ask! on: November 14, 2021, 09:59:55 PM
Will they be able to gain what they have lost?
No. Not unless the futures market sees an extended period of backwardation.

Right now the ETF will see another approximately 1% loss due to rolling from November to December contract (assuming no slippage).

I do believe so.
I am close to replicating the index in the Twitter thread above. I suspect the cost of rolling shoots on the roll dates, but adding 1% cost each month is bad.
Again, bad for the final investor.
All this while the SEC is sleeping.
 

The SEC rejecting a physical bitcoin ETF, but approving a cash-settled futures ETF is bureaucracy nonsense. Similarly, allowing the Greyscale investment trust to issue shares that cannot be redeemed, but charges a fee for investors to hold is only going to harm long-term investors.

It would be possible for an issuer to be nearly-guaranteed to match the long-term price of bitcoin (or even beat it by a small amount) if they were to invest in either physical bitcoin or physical-settled bitcoin futures, and were to charge a fee to buy or redeem shares directly to the issuer. The issuer could then not charge a fee to holders of the ETF, and the amount of bitcoin each share represents could remain constant (or even increase, if some of the fee is rebated to the ETF) over time.
143  Bitcoin / Wallet software / Re: [BETA] Mercury Wallet - Privacy for Bitcoin on: November 14, 2021, 09:46:19 PM

At the end of the first paragraph of the "statechains" section, it says that any collusion between the "SE" and an old owner of a UTXO that results in theft of a UTXO can be trivially proven. This does not explain any consequences of this collusion. If someone were to buy up all the 0.0001 BTC UTXOs one at a time, and sell each UTXO before buying the next one, if they are colluding with the "SE" what would prevent them from being able to have a tx confirmed to an arbitrary address? I don't see anything in the documentation that would.

The "fraud proof" paragraph again says that it can be trivially proven if the "SE" is corrupt, and alludes that the ability to prove a "SE" is corrupt is an incentive to be "honest". Again, the documentation does not explain the actual consequences for the "SE" for being corrupt. The LN protocol for example, has concrete consequences for publishing an old channel state to close the channel -- the other party is able to recover the entire channel balance of both parties. There does not appear to be any financial consequences for a corrupt "SE" that I can see.

I am curious if you are in any way associated with this project.

First all mercury uses an HSM on the back end:

https://github.com/commerceblock/lockbox

The HSM deletes all the key shares for each transaction.  So the HSM would have to be broken for the scenario you mention. 
The latest user always has an updated "blackout transaction", therefore this is proof on who should be the current owner.

Thank you for responding. A lot of what I had posted had already been addressed/discussed by others in this thread, so there is no need to rehash those issues.

Yes, I found that repo, however I am not confident it is possible to "prove" your server is using that specific code.

Except for the issue of "blackout transactions" (below), I don't think deleting an old key or using specific code is a big deal, because as your documentation says, the statechain is signed in a way that proves if the SE is colluding with an old owner of a statecoin.

I am not sure if there is anything in the protocol that ensures the SE gave every user a "backup" closing transaction with the correct nLockTime.

The server enforces this. You must trust it to do so.

Step 1 says that the private key used for the backup transaction is different than the statechain private key, so if a backup transaction was broadcast and sent to the wrong address, I don't know if it could be proven the SE was acting maliciously.

The user has a private key (new one for each coin/transfer, from a BIP32 seed) that is used for:

1) their share of the 'full' private key (of the UTXO) that no-one ever knows
2) their 'proof' key, that they use to sign the statechain to authorise a transfer/withdrawal,
3) The address of the backup transaction.

The owner must sign the statechain (to the public key of the new owner) in a transfer, before the server will co-sign the backup tx and complete the key share update process. Also, in the case of a withdrawal, the owner signs with their proof key that they are withdrawing and their withdrawal address, before the server will co-sign the withdrawal tx. If there is a valid transaction that spends the UTXO, then the server should be able to produce a signature authorising that specific transaction by the owner. If they cannot, in the case that they are accused of theft/collusion, then this is indication of guilt.
So my concern would be a scenario as below:

Alice currently owns a 1BTC statecoin issued by a Mercury server
When Alice obtain her 1BTC statecoin, she also received a "blackout transaction" with an nLockTime expiration of block 710,000.
Alice and the Mercury server agree to collude with eachother to steal the statecoin, so they create a new "blackout transaction" with an nLockTime expiration of 709,050
Alice "sells" her 1BTC statecoin to Bob for 1BTC that is transferred on-chain.
As part of the above transfer, Alice uses her private key to sign the Statechain with Bob's public key, and with the help of the Mercury server, creates a "blackout transaction" payable to Bob's "blackout" address that is different and distinct from the public key she just signed. The "blackout transaction" payable to Bob has a nLockTime expiration of block 709,994 (710,000 minus 6).
Now Alice has a "blackout transaction" with a nLockTime expiration of 709,050 and Bob has a "blackout transaction" with a nLockTime expiration of 709,994.

If Alice were to broadcast her "blackout transaction" at block 709,065, based on the current protocol, there is no way for Bob to prove he had been scammed.

Using the same public key for both the "blackout transaction" output, and as documentation to be the "owner" of the statecoin would be one way to address the above issue. This issue could also be addressed by having the output address of the "blackout transaction" and the nLockTime expiration be "signed" and be part of the statechain.
144  Other / Meta / Re: Bitcointalk Ranking-up pipeline- Those close to their next rank (lacking Merits) on: November 14, 2021, 08:00:06 PM

In Additional sir i found this user aysg76 have 981 merits, 19 more to legendary .
aysg76 can be removed from the OP list Wink

edit: so can Ya3rob
145  Economy / Service Discussion / Re: Missing btc from bitcoin-central in 2013 ( paymium ) on: November 14, 2021, 03:59:57 AM
As per their support answer, they aren't going to help you. Because they grave the Bitcoin already since your account is empty. There should be history on your account, doesn't matter they moved to the new domain. The domain isn't related to the data host. Since your account is live then the fund is supposed to be there as well. I will say don't give up. Write their social media and try to take legal action. There is the possibility to get back your fund though it's not an easy task ever. But the amount isn't small right now, so try to do whatever you can to push them.

That's the disadvantage of storing funds into custodial wallet or exchange.

Nope they just told me to check my mail to see if i had a withdrawal confirmation ( and i'm 100% sure i dont have any... i check everything from january 2013 to 2021 )


Another thing i forgot to mention is that i had 27 euros left on the platform, i received it on my bank account on April 30th 2013.

But for the BTC nothing. My account is still live and i'm a member since 2013 so yeah, they should be able to provide me some proof! Once again

what they gonna say to the AMF ( SEC ) ... "sorry we can't we dont have access it's lost" man this 110K euros, not 20 lol.

Totally agree with you, i'll do whatever i can! Smiley

Many thanks for your answers guys. i'll keep you posted.


Another important thing, if someone who has been in the same case in 2013, did he/she received a mail or something to confirm the withdrawal ?


They are likely trying to determine if you are trying to involve government regulators in your dispute. 

They might be able to give you the txid of your withdrawal transaction they claim received a withdraw from your account. If they acknowledge your purchase but cannot even provide a claimed withdrawal transaction, IMO you probably have a strong case against them, but you would probably need to take legal action.
146  Economy / Economics / Re: Everything you wanted to know about BTC futures but were afraid to ask! on: November 10, 2021, 07:59:30 PM
Will they be able to gain what they have lost?
No. Not unless the futures market sees an extended period of backwardation.

Right now the ETF will see another approximately 1% loss due to rolling from November to December contract (assuming no slippage).
147  Bitcoin / Development & Technical Discussion / Re: How faster transactions can be implemented on: November 10, 2021, 05:02:53 PM
If you need a precise chance of 'x or more' occurrences happening, it is probably better to calculate the chances of x -1 or less occurrences not happening.
If you are doing it by hand, then sure, that way is easier, but working out the upper distribution to infinity is a trivial task for any calculator or piece of software. Here, I've put the necessary equation in to Wolfram Alpha so you can play around with numbers yourself. Just adjust the upper and lower bounds (the ∞ and 0 above and below the capital sigma respectively) as desired. The output is a percentage chance.

https://www.wolframalpha.com/input/?i2d=true&i=Sum%5BDivide%5BPower%5Be%2C-1%5D%2Cn%21%5D%2C%7Bn%2C0%2C%E2%88%9E%7D%5D*100

It might be trivial for a software program to perform the calculation, but the runtime will be slower calculating to infinity versus calculating the chances of x -1 not happening.

To demonstrate, I created two simple functions:
def to_inf():
    count = 0
    for x in range(100):
        count +=1
def sub_3x():
    count = 0
    for x in range(3):
        count -=1

I ran some test on both to see how fast they execute:
%timeit to_inf()
4.64 µs ± 67.7 ns per loop (mean ± std. dev. of 7 runs, 100000 loops each)
%timeit sub_3x()
512 ns ± 4.11 ns per loop (mean ± std. dev. of 7 runs, 1000000 loops each)

I could create functions that calculate a poisson probability until the probability is zero, and that calculates all probabilities of x-1 down to 0, and the outcome would be the same (the later would have a quicker runtime)
148  Other / Meta / Re: Some members are more priviledged than others? on: November 10, 2021, 04:50:01 PM
Somehow the tiniest things on Bitcointalk can be blown up to the point where it leads to bans. I get it from the Mods' perspective, and I get it from nutildah's perspective. But none of this should have been made so big, it's just not worth it.
This is about following the rules, and not being able to do whatever he wants. nutildah was not getting anything from moving his thread, he was not warning anyone about potential scammers. Not one person on his list has even attempted to post in the currency exchange sub this month, one person was last online last month, and three others have not logged onto their accounts in multiple months.

Meanwhile, on the first page of the currency exchange sub alone, I found threads[1] made by five people that have what appear to be valid scam reports against them, including one that nutildah himself left a neutral rating on about the scam reports. Why are the below people not on
nutildah's thread? The reason is that his thread is not a serious attempt to warn people about potential scammers. It is an attempt to make certain people upset, and to show people that he can do whatever he wants and get away with it.

TBH, I don't even understand how nutildah could think it would be appropriate to be in currency exchange. But that point doesn't even matter. He was clearly told his thread doesn't belong there, and he was clearly told that if he continued to move his thread, he would be banned (this was after he wrongly moved his thread many times). He even acknowledged that him moving his thread would lead to a ban, and he did it anyway. 


[1]-
https://bitcointalk.org/index.php?topic=5368968.0
https://bitcointalk.org/index.php?topic=1757611.0
https://bitcointalk.org/index.php?topic=2417495.0
https://bitcointalk.org/index.php?topic=5353451.0
https://bitcointalk.org/index.php?topic=5138828.0
149  Bitcoin / Development & Technical Discussion / Re: My simple solution for transaction maleability on: November 10, 2021, 05:36:59 AM
maleability was solved years ago when transactions that were maleabilated became non-standard.
150  Other / Meta / Re: Some members are more priviledged than others? on: November 10, 2021, 05:09:00 AM
In order for a thread to be posted in the section it was posted in, it needs to meet the following criteria:
Quote
Currency exchange (child board of Marketplace) -  Buying/selling bitcoins using other fiat currencies.
His thread very clearly did not meet this criteria. This is true despite his attempt to pretend to be trading bitcoin.

"other fiat currencies", like Bitcoin is a fiat currency?

Anyway, I'm sorry to say that Royse777 must be banned too.

Also ban this user who created a clearly fake announcement with a sole purpose of warning against altcoin scams.

Better yet ban all scammers immediately because they're obviously not "buying/selling bitcoins" but scamming.

Or we could just pretend that scammers are doing legitimate business and ban users saying otherwise.
You are grasping at straws. The issue is not that he posted a thread in the wrong sub. The issue is that he repeatedly moved his thread back into the wrong sub after his thread was properly moved out of currency exchange. He had zero intention of actually trading any bitcoin.

There are reasons why the cited threads are not moved out of the bitcoin subs and these reasons are well established. The fact that someone wants to upset people is not a reason to have a thread in currency exchange. Nor is the fact that suchmoon wants to have a thread there that she knows doesn’t belong there.
151  Other / Meta / Re: Some members are more priviledged than others? on: November 10, 2021, 03:28:58 AM
I think you know very well that once a thread is moved by a moderator, it should not be moved back without first getting the mod (or someone above him) to agree. Otherwise there wouldn’t be any point in having moderators move threads.

I think you know very well that I was asking which rule did he break that the thread had to be moved to begin with.

nutildah was clearly warned by multiple people, including myself

Sockpuppets don't really count as multiple people.
In order for a thread to be posted in the section it was posted in, it needs to meet the following criteria:
Quote
Currency exchange (child board of Marketplace) -  Buying/selling bitcoins using other fiat currencies.
His thread very clearly did not meet this criteria. This is true despite his attempt to pretend to be trading bitcoin.

By my count, the following accounts have warned him about his actions, specifically that his actions could lead to a ban:
Quickseller
Royse777
hilariousandco

I am not going to comment on the above accusation, although I don’t see any basis in fact to the above, and I do look forward to you having someone else present evidence you find to come to the above conclusion.
152  Economy / Lending / Re: Lending $500 for travel expenses, will return with 50% interest on: November 10, 2021, 03:16:12 AM
If you need that amount of money, given your circumstances, you should use your credit card, or take out a signature loan. The interest you will pay would be lower than the 50% you are offering. Lenders on here really don’t have any way to collect on debts besides giving negative trust, and that would do very little to get you to pay.
153  Bitcoin / Development & Technical Discussion / Re: The Lightning Network node experience on: November 10, 2021, 03:11:31 AM
I don’t see any reason why adjusting fees couldn’t be automated depending on the specific circumstances.

If a lot of BTC is required to earn from running a LN node, perhaps a reasonable interest amount should be charged against earnings to account for what could have been earned by lending your bitcoin to whatever reputable DeFi company.
154  Other / Meta / Re: Some members are more priviledged than others? on: November 10, 2021, 03:06:39 AM
This thread is an example of certain people believing they are above the rules, can do whatever they want, and see above the rest of the community.

Which rule did nutildah break?

The thread in question hasn’t been updated in months (except for an attempt to exploit what certain people believed was a loophole). The purpose of the thread in question is not to protect forum members. The purpose is to upset forum members (aka troll).

Bullshit. Hypertrolls posting all sorts of garbage for years on end never get banned, and good luck trying to remove an off-topic post if at least one word refers to the topic, yet a thread about currency exchange on the Currency Exchange board draws a ban. For a forum that supposedly promotes free speech and doesn't moderate scams, it's bizarre to see mods going to such great lengths to punish people speaking out against scams. Makes sense that you would cheer that.
I think you know very well that once a thread is moved by a moderator, it should not be moved back without first getting the mod (or someone above him) to agree. Otherwise there wouldn’t be any point in having moderators move threads.

nutildah was clearly warned by multiple people, including myself that his actions were going to lead to a ban. (Which it appears has happened). Specific action was taken many times against nutildah, each of which should have served as a warning to him. I can’t speak to any generic “hyper troll” however these people clearly did not have sufficient actions taken against them to get a ban. There is a difference between someone posting something that suchmoon doesn’t like and breaking the rules.

If nutildah had listened to my advice, he would not be banned now. I didn’t advocate for his ban, but I don’t feel bad that he is banned. He knew exactly what he needed to do to avoid a ban, and specifically took action counter to that.

nutildah is free to disagree that his thread is wrongly posted, and he can make arguments in favor of keeping his thread in currency exchange. However until and unless the moderation agrees, he should not move his thread into that section. 
155  Other / Meta / Re: Why nutildah has been temp banned on: November 10, 2021, 02:55:13 AM
See this thread. My guess is that he decided to try to move his thread one more time.

He was warned of the consequences of doing this by multiple people and it was clearly explained to him why what he was doing was wrong and he apparently continued.
156  Bitcoin / Development & Technical Discussion / Re: The Lightning Network node experience on: November 10, 2021, 02:47:30 AM
You can also use dynamic pricing so that as one side gets low, the fee rate will change to encourage transactions to be routed to that side of the channel.

Sure, that's what I have been doing as well. Unfortunately, those channels remained silent as I periodically dropped the fees so I decided to make their use free of charge. One channel suddenly started routing transactions again in both directions even after I raised the fees. I will try rebalancing the other channel through a circular payment for a reasonable fee. It became unbalanced just a few hours after it was opened so I might earn back the cost of rebalancing and make some profit easily.
Thats interesting. I wonder if some people are closing channels (or not closing channels) based on fees on various routes. If there is competition offering free routes, it might not be worth it to tie up bitcoin, but once a channel is closed for likely low future fees, they might not open a new channel due to the associated initial costs of doing so (tx fees).

It would be interesting to see how much someone might be able to earn running a LN node if they were trying to maximize their profit.
157  Bitcoin / Project Development / Re: On-Chain Analytics Tools Project on: November 09, 2021, 10:58:41 PM
Hello,

The first thing I can think of is a github and/or a webpage of the project.

Usually bitcoin enthusiasts will  prefer open-source projects, and certainly anyone will appreciate a website where we can see more information about the project.
The OP appears to be interested in licensing his software. As such, it would not really be possible to have a publicly facing GitHub repo. If he had one, anyone could clone his project and use his software for free.

OP could use dual licensing system (such as GPLv3 and propriety) where GPLv3 version only available as source code while propriety version provide compiled application and optionally more feature/support. But it's complicated and usually only big company who bother use such system.

P.S. I know dual licensing system is controversial on open source community.
Maybe. However a dual licensing system would more or less force the OP to keep the same features in his free version forever because the source code would be public. Also, a lot of software with "paid" features that also has a "free" version often has very useful additional features above the free version, however the work required to implement the additional features is minimal. So publishing the source code to a free version would potentially result in the OP seeing competing versions of his software from forks of his software that have the same features as his paid versions.
158  Bitcoin / Development & Technical Discussion / Re: How faster transactions can be implemented on: November 09, 2021, 10:55:04 PM
-snip-
Essentially yes, if you want to do it manually.

What you really want to do is to use the summation function, denoted by capital sigma (Σ). Difficult to print it out properly in BBCode, but essentially the formula would be:

f(n,Λ) = Σ (Λn * e / n!)

Your bounds would be between 0 and n for the lower distribution (so finding n or fewer blocks), and between n and infinity for the upper distribution (so finding n or more blocks). Or alternatively change the bounds to any arbitrary numbers to find the chance of finding that number of blocks. For example, the chance of finding either 1 or 2 blocks in 10 minutes is 55.18%.
The chances of not finding n blocks within one block interval is the same as 1 - chances of finding n or more blocks within one block interval.

If you need a precise chance of 'x or more' occurrences happening, it is probably better to calculate the chances of x -1 or less occurrences not happening. 
159  Bitcoin / Wallet software / Re: Wallet Features That Are Missing but Essential on: November 09, 2021, 10:41:00 PM
CheckMultiSigVerify OP
So you change OP_CHECKSIGVERIFY to another OP_CHECKMULTISIG as pooya has said,
You're right. I had not considered that.

Although you are still limited as to how many potential signers there are in a script (this is my understanding), and there is still the issue of having to change keys whenever an employee leaves, and changing keys with multi-sig means that a transaction is required, including the cost of said transaction.

Also, the employees need to be in a location specified by the employer in order to sign a transaction when using SSS with my setup. If a group of employees are fired for misconduct, as long as you can keep them outside of the room containing the computer used to sign transactions (and otherwise limit their access to said computer), your private keys are safe.

In my scenario, a company computer most be used to access the secret. Using a computer that is not the specific computer designed by the computer to calculate the secret will result in useless information. This allows the company to log any transactions that are signed, including which employees are approving the transaction.
So you set up the multi-sig as above to absolutely require one signature which is stored only on a company computer, and set it up so the company computer will not accept PSBTs but will only accept unsigned transactions and employees connecting their hardware wallets to sign with their relevant keys.
If you are using multi-sig without sharing keys, the company could just look at the blockchain, specifically the signature of the transaction to see who signed the transaction.
160  Other / Meta / Re: Some members are more priviledged than others? on: November 09, 2021, 03:45:26 AM
This thread is an example of certain people believing they are above the rules, can do whatever they want, and see above the rest of the community.

The thread in question hasn’t been updated in months (except for an attempt to exploit what certain people believed was a loophole). The purpose of the thread in question is not to protect forum members. The purpose is to upset forum members (aka troll).
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