so what is the maximum daily Withdrawal from MtGox?, and multiply it by possibly 100 temporary accounts?
If you hack/steal/obtain a lot of bitcoins through one account, you can only transfer as much as your daily limit to temp accounts too. So that won't help. If you use many temp accounts to begin with, I hope MtGox alarms go crazy. It should look suspicious if hundreds of new, unused accounts (from the same ip maybe?) get loaded with billions of dollars at the same time.. We'll find out. My guess so far: MTGOX WAS ZHOUTONGED! (lol) Ente |
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Dammit! I should have set a sell order for 1000US$, just to catch those, uhm, events! :-) Since, you know, maybe someone with a lot of BTC messed up.. fat fingers, cat doing the keyboard walk, mixing up "," "." or simply a bot going amok. Knight bot, anyone? I hope this will be rolled back, though. It messes up all those charts!  Ente |
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I, personally, believe there is a higher chance of success for an anonymous exchange in onionland than a p2p approach.. I don't feel like making individual cash transfers directly to my trading partner. I would prefer to trust an anonymous (TOR-) exchange.
The old problem, of course, is how to fund it.
I don't know a good solution to this. However, you could as well have all funds go in and out in bitcoin only. The dollar equivalent only exists in the books. For trading only this should work. Of course it would not work for anonymously cashing in and cashing out. But that is a problem with all existing exchanges too.
Or find some anonymous way to load fiat into it.
Ente
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Bitcoin offers a strong level of privacy. In my view, any website functioning as an exchange and taking custody of customer funds does not have the luxury of anonimity.
Thanks for your work and effort. You point out privacy as an important bit of exchanges. I fully agree. I would suggest to focus work/inquiries into "is TOR access allowed", and "KYC/AML: limits, consequences etc". Indeed right now your work helps more against counter-party-risk, not so much about privacy/anonymity and the like. Since you already told to be willing to update the wiki with the collected info, the exchanges' operators should gladly help you out with all missing info? Thank you for compiling this! Ente |
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Well lets just say GeistGeld is the last on the list of coins to merged mine, not worth looking into until you already have bitcoin, namecoin, devcoin, groupcoin, ixcoin and i0coin all humming along nicely...
-MarkM-
..and was the first (and only) one to throw out when I was experimenting with merge mining. For problems where I suspect the super-high blockrate of GG was negatively influencing all other chains, Bitcoin included. Strange to see Lolcust vanished, though.. However it turns out to be: More Coins for you! :-) Ente |
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So if someone is out there mining it, they are doing so without incoming ports open.
And raking in all the coins like I used to.
Of course everyone is interested to interconnect their daemons. If indeed there are several daemons out there not connnected to each other, that is in fact a chainsplit with several independent chains in existance. Once they connect to each other (or to the "real" network which might still be out there), all but the longest chain in existance vanish. Maybe we should have a second look at how the peer discovery works.. Or, as the second possibility, MarkM is billionaire by now. GG billionaire, that is. :-) Ente (not implying that you are not aware of this, MarkM) |
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Introducing the Bitcoin 100: A Kickstarter for Businesses In an attempt to get more businesses to accept Bitcoins directly as payments, lets compile a list of people who will promise to make an initial purchase with Bitcoins. It will be a kind of Bitcoin cash mob. Once we have some decent numbers for a specific business, we will contact them directly about accepting Bitcoins. Initial targets are: 1. BlueNile.com Prices start at just $25 !!! 2. Newegg.com3. Memoryx.net4. Your suggestion here Please post your name, and amount you pledge to buy and from which company Pledges: User Name 1. BlueNile.com 2. Newegg.com 3. Memoryx.netMemoryDealers $0 $100 $1,000 rjk $0 $100 $0 MelMan2002 $100 $100 $100 Daily Anarchist $0 $2000 $0 CornedBeefHash $0 $100 $0 Serge $0 $200 $0 Kluge $0 $250 $0 dollartrader $0 $200 $0 tysat $0 $300 $0 BusmasterDM $0 $250 $0 Transisto $0 $5000 $0 trentzb $0 $500 $0 Troll Toll $500 $1000 $0 amencon $0 $200 $0 adamstg $0 $100 $0 Grand Total $600 $10,400 $1,100 Great work! This, again, has the potential to make Bitcoin instantly big! What I would strongly suggest: Chinese "Dollarstores", or whatever you call them: Dealextreme http://dx.com <-- probably the largest one kaidomain, buyincoins etc are competitors, which might be interested to have a great advantage over the others with accepting bitcoins. Why should they accept bitcoins? -they operate worldwide, so they reach billions of people which can't use paypal -paypal fees, obviously, as they are working with really low margins -I guess payment frauds are high, with international customers Those are a huge market, one of them accepting bitcoins would already have a huge influence.. and the others would follow soon! Ente |
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Salt != Password != Secret :-P
But yes, of course you are right, the passphrase would be written down for heirs anyway. No problem to write down salt/email/pin as well in that occasion.
Nevertheless, I prefer to only have to remember as little as necessary, for a brainwallet.
Ente
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A problem with using multiple iterations for a key generation algorithm brought up by gmaxwell way back when we were discussing the merits of supporting SHA256-based minikeys in the Satoshi client.
Each time you do an iteration, you LOSE entropy. This is unavoidable, and the reason why we have algorithms like PBKDF2 using SHA256 HMAC (or something stronger to allay the SHA256 concern). When you do thousands or tens of thousands of iterations, you practically hemorrhage entropy.
For quick and dirty brainwallets, sure, SHA256 is great. But when we decide that's not enough and go down the road of specifying iterations of a hash function, that's when it's probably time to start specifying a proper key derivation algorithm.
What do you guys think?
PBKDF2 takes two input strings and a number of rounds as input: one string is meant to be the "password", and the other is meant to serve a purpose much more like salt. What if the "standard" recommended non-1xSHA256 brainwallet consisted of the following?
* Your passphrase
* Your e-mail address (which will go in the "salt-like" field)
* A PIN number (which will be used as the number of rounds)
Of course, any user can use anything they want. But if they stick to these simple recommended guidelines and choose a strong passphrase, they're likely to enjoy an excellent degree of security along with a low probability that they will forget how they set their brainwallet up.
I like it! Although, I would rather not have to memorize my emailaddress.. How about birthdate as "salt"? Yes, it may (or may not) be less secret than a emailaddress, but thats not the point of salt anyway. There will be people who change their email every other year and who will lose track of what they used back then. Or who only documented their passphrase and pin, and their heirs will have a tough time figuring it out.. pin.. how about having a default pin too, which currently would make the calculation take, say, one minute? If people just want to remember the passphrase, they use the default pin. If they choose a different pin, be it. I agree, we should define a different method than SHA* for the standard. Or, at least, make two modes into the standard, SHA* and PBKDF2 et al. Ente |
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I've never used a 3d printer, but would it be possible to print a hollow cube with the private key QR code printed inside?
Now thats a clever idea! Yes, definitely possible. Most systems an have different materials, for example one "real" ABS building material, and one blank material to fill and support hollow parts or overhangs. In this case you could not remove the inner fill material, but that wouldn't be a problem anyway. I like this idea. However, you could make a similar token by laminating the key between different sheets of paper/plastic, maybe with a hologram or the like as secure top layer? Or something like a scratch card? ..For all the people who don't have a 3D printer yet, anyway. Ente |
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As long as the pirate can keep ratcheting up the price, I'm all for it! On the other hand, I wouldn't give him a Satoshi.
He claimed to have tanked the price, though.. And warned to buy in too expensive and all. Ente |
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Even if it was Pirate back then at 17.07., it seems like it did cost him a fair amount of BTC, and his intervention held jts a mere two weeks.. He dropped it from 9.5 down to 7.5, and it went up to 9.5 again after 15 days, up to 11.1 after 17 days..
I dunno.. Nah, Pirate probably is quick, clever and opportunistic. But probably not causing 25% swings after all.
Ente
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Fantasizing about laser engraving on tungsten or diamond is a lot of fun but I've been thinking about really doing this. Clearly a major issue is that you need to DIY not pay someone else to do it because if you pay someone, you cannot ever quite trust your key. So it seems to me that the most practical solution is to buy 2 "blank" casascius coins and a hand engraver (about 3 BTC). Engrave the private key on one, the public on the other and then glue (or maybe solder) them together so the private key is inside. That would survive most fires... would filling the engraving with solder increase the longevity by stopping rust?
Now we are talking! Well, Casascius coins are made of brass, which corrodes relatively easily, and melts around 900°C if I remember right. Just water won't let brass rust, I think. The quickest way would be to let brass touch some other metal which is either a lot more or a lot less noble than brass (copper and zinc). Have both metals touch water, aka electrolyte, and voila, have a free battery element. The lesser noble metal will dissolve. Get a small disc (aka coin blank) of stainless steel, engrave the priv key into it, solder it in between two coins. Or in between one coin and a copper backside with a recession. Bonus points for engraving the firstbits onto the outer side. De-soldering is easy to get the key, but will be destructive and noticed. Not that it would help a lot at that point, if the cold-coin-wallet is stolen.. You will be able to engrave any metal with a cheap tungsten carbide tip for a dremel. Or just bring everything to a small jeweler's shop or the like. If there isn't a young guy playing on his smartphone behind the counter when you enter, you should be fine. Relatively! :-) Ente |
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Indeed.
I will watch this closely.
BTC-E just instantly catapulted themselves to #1 of my favorite exchange. After MtGox and Intersango more or less disqualified themselves in the last few days..
Ente
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At this point I feel the shilling from rarity, dree12, and Mathew N. Queer comes from getting paid. Either that, or the first two are just sock puppets of this criminal organization spearheaded by Zhou. You are right, no answer has been given as to why Zhou sold LR from an account that was supposedly open by a hacker. There won't be either, because he can't make any shit up. He already stuck his foot in its entirety up his mouth on that one. You know what is really interesting too? Zhou confessed that the email address used on the hacks was his "semi sock puppet secret email" that he used to test vulnerabilities on exchangers. He even went to say that he returned the funds he "stole" from an exchanger after finding a vulnerability. So far so good... now, CHECK THIS OUT: Yesterday, sock puppet dree12 starts a very detailed and carefully crafted list of Bitcoin hacks: https://bitcointalk.org/index.php?topic=83794.0MINUTES after he starts this thread, BTC-E get's hack ( ). Dree12 happily announces that if the projected numbers are right, the bitcoinica hack is number three on the list now, instead of number two. He posts a sensationalistic header in red big letters stating that the BTC-E hack is going on "Right now!" List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses 26.May.2012, 21:39:04 Coincidence? Maybe... Zhou Tong hacking BTC-E to deflect attention from him? MOST LIKELY, specially considering his previous statements about his pastime of "Finding vulnerabilities", and the obvious sock puppetry from dree12.
Thank you, I had a good laugh! Ente |
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WTF! I just realized that I have 9-13 ignores. Is this telling me that all the earnest work that I am putting in to prove what this whole Bitcoinica thing is about is in vane?
I'm going to take a break from this for a few hours. I'm pretty sure that when I come back, I will be naming names. I've left clues out the ass hoping that others would pick up the mantle, but I guess that didn't work out so swell.
Later, all.
~Bruno~
I was reading all you posted here and in the other thread. And honestly, that stuff is too random to me.. Its like getting an uncommented sourcecode from someone - I would eventually scrap it and start all over again.. ;-) Don't worry about the ignores. I have had a strong itch to start ignoring people here of lately. Seems like quite a few people are somewhat tense.. heh Ente |
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One good little piece of standardization I'm seeing that has developed is that both brainwallet.org and bitaddress.org use SHA256(passphrase) for their single address generation. Now we just could use some standardization for the deterministic wallet idea. I really don't like how Electrum won't let you make your own passphrase.
I haven't tried importing private keys into bitcoind(-qt) yet, but its pretty easy to sha256sum a phrase & feed it into brainwallet or bitaddress to get the private & public keys. There's also a few transaction makers out there that will even give you the raw transaction (most only support sending the full balance tho - be careful or you might end up giving the miner a huge fee). Now I just need to figure out how to send that transaction out. I think bitcoind(-qt) is working on it since I saw they have a sendrawtransaction method. I also heard electrum will do it. I think blockchain will send it for a fee. Then you don't even ever have to import or create a wallet & the private key can be stored on an offline computer the whole time. All that stuff is bread&butter of Armory! :-) Ente |
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Well it seems my bitcoin folder is fragmented/and or redundant  The most secure method would probably be sony HD-MD if that weren't discontinued. MO-Drives are more reliable than DVDs, but for any reasonable effort that is probably the best thing. HD-DVD is, as far as I remember, similar technique (magnetooptical). It was designed as a robust backup medium. Eventually several DVD burner wrote all three formats. No idea how it is now, but I am sure it is still widely used in the industry. Laser engrave private keys on a tungsten bucking bar. The bank can burn down around it and it will still be readable.  *types off the privkey* *imports into wallet* *finds 168 BTC* *sends 168 BTC back home* *runs off laughing maniacly* Ente |
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The question is: How much bits of entropy are needed for a password to not be easily crackable by brute-force? How long does it take to try one possibility?
If you "mine" for private keys (by choosing random), there is always the chance to find one. But this chance is equal for all schemes for generating the private key.
Btw.: Entropy is not everything. If you generate your password from many words, which occur in a dictionary and the attacker knows that, all the entropy of single characters is worthless, because the attacker can guess your password with a wordlist.
You surely know "correct horse battery staple": https://xkcd.com/936/The there calculated 550 years (instead of 3 days) do *not* come from "attacker tries every possible combination of small letters up to 25 letters (that would be much much more than 550 years), but precisely assuming what you did, that the attacker has a dictionary with one-, two thousand words where he shuffles them to different combinations of four words. I couldn't really believe it when I first thought about it, and found much more detailed calculations to exactly this example somewhere. Ente |
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In fairness to pirateat40 if a currency in inflating at more than 7% per week (compounded) as was the case for Bitcoin with respect to the USD between July 2011 and December 2011 paying 7% a week in interest is very close to the proper rate and not a ponzi. One needs to consider the real rate of return not the nominal rate of return when considering where something is a ponzi or not. The trouble here is that that an interest rate appropriate for 7% inflation per week does not work for deflation with a significant chance of hyper deflation. By the way the start of https://bitcointalk.org/index.php?topic=50822.1480 is so close to the recent bottom of the market in the 2 USD range that it makes it look like pirateat40 is a very good contrarian indicator on the BTC / USD price. But but but.. He's supposed to pay the invested Bitcoins plus 7% in Bitcoins! Its not like he is borrowing USD, secretly buying into Bitcoin, and paying back USD with 7% USD on top.. Ente |
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