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2861  Bitcoin / Bitcoin Discussion / Re: Fundamental bitcoin flaw - revisited on: March 04, 2013, 05:53:01 PM
Prepare your oscilloscopes in that case! Wink
MintChip 2.0 all the way!

If DRMcoin would be so trusted, there would be no need for Bitcoin in the first place by the way, as one could transfer fiat or other amounts (gold) securely that way. No need for elaborate mining schemes or an expensive global ledger...

To have an overview on how "secure" DRM systems with smartcards are, just look at the fees of existing payment processors (Mastercard, Visa...) - the current implementation of DRMcoins.
2862  Local / Biete / Re: 13 € in Bitcoin für 40.000 XRP (Ripples) on: March 04, 2013, 03:01:39 PM
"Die Deutschen" können oftmals besser englisch als so manche anderen Forennutzer hier... Wink
2863  Bitcoin / Project Development / Re: [BETA]Bitfinex - Meta-Exchange and margin trading on: March 04, 2013, 09:04:00 AM
Here is a real-life example how lending BTC on Bitfinex looks like and how profitable it is.
I'm lending out 20 BTC (Edit: at VIR) for up to 120 days. Initially I opened 200 positions for 0.1 BTC each, thinking that maybe there is an algorithm that takes early offers and re-posts them after they are used (this currently seems not to be the case - instead borrowed+returned funds seen to be silently added to the last open position, so now I have a 4.1 BTC open lending offer and 40 0.1 offers less)

I included the formulas I used, because maybe I did something wrong there and to enable others to do the same easily (e.g. in Libre Office Calc).
DateDays passedStarted withInterestClosed withAPR that dayAPR since start
{{DD.MM.YYYY}}{{[current_day - first_day]+1}}{{last_day_close}}{{user input}}{{interest + open_balance}}{{interest / open_balance*36500}}{{(close_balance-initial_balance)/initial_balance*100*365/days_passed}}
28.02.20131200,000920,00091,64251,6425
01.03.2013220,00090,00120,00191,8249178791,73375
02.03.2013320,00190,000220,00210,3649653281,2775
03.03.2013420,00210,000120,00220,182480841,00375
04.03.2013520,0022020,002200,803
05.03.2013620,00220,001220,00342,1897591261,034166667
06.03.2013720,00340,003220,00665,8390073691,720714286

Unfortunately I cannot (without an MtGox account - something that I prefer to keep that way after being included in the MtGox leak list) deposit USD or trade some of these BTC to USD (as that requires a trading account on Bitfinex and I'm fine with a lending one), so that side of the puzzle still needs to be explored by someone else.

Edit: Added new data.
2864  Bitcoin / Development & Technical Discussion / Re: Poll regarding rounding of Bitcoin amounts in clients on: March 03, 2013, 04:41:30 PM
I'd recommend displaying mBTC or even µBTC by default. Additionally group thousands/millions like this: 1.00000000 BTC = 1 000 000.00 µBTC
2865  Bitcoin / Project Development / Re: I want to help BitCoin on: March 03, 2013, 04:38:54 PM
Also spelling it correctly might be a start. Tongue
2866  Local / Deutsch (German) / Re: SendBitcoins.net öffnet die Tore! on: March 03, 2013, 04:29:50 PM
Wenn ich Paypal nutze, dann meist als Zahlungsmittel (du schlägst ja auch vor, bestehende Paypalplugins zu nutzen) --> ich sende Geld an eine Paypaladresse.

Bei Coinpal SendBitcoins muss ich nun trotzdem auch als Zahlender einen Account anlegen und BTC darauf überweisen (da es im Gegensatz zu Paypal bei Bitcoins ja keinen Bankeinzug oder Kreditkarte gibt, die von mir abbuchen können). Ein möglicher Nachteil wäre aber sicher, dass du deinen Zahlungsempfängern erst mitteilen kannst, dass die Zahlung angekommen ist, wenn die Transaktion in einem Block ist - und das kann dauern, auf jeden Fall länger als die paar Sekunden die es "pre-funded" dauern dürfte.
2867  Bitcoin / Bitcoin Discussion / Re: Fundamental bitcoin flaw - revisited on: March 03, 2013, 03:48:26 PM
Another alternative:
Sally (passively) measures the power consumption of her CPU while it is calculating/processing the private key.

This one is just plain silly.  So tell me, how do you plan to reconstruct the key from the power consumption?
http://en.wikipedia.org/wiki/Power_analysis - and it's far from silly, at my university you learn how to do that in the second year of a CS bachelor. It's even possible to extract keys from your bank smartcard that way, though new generations got a bit better. CPUs in PCs are however most likely NOT built to migitate these attacks and it will take quite some time until they are.

Your idea only works if you can 100% trust hardware a potential attacker has in his/her hands. Seals can be broken, chips soldered off, power consumption measured and debug lines reattached - still it needs to keep secrets from somebody who specifically tries to get to them. Sorry, but that's not an assumption I'd call a flaw of Bitcoin.

I agree that DRMcoins are potentially possible - but the transaction of these is NOT as secure as a transaction on the block chain, which means if you want the highest possible security, you still will pay miner fees. If you only transfer 5 cents for a bubble gum to a vending machine, it might be possible to use DRMcoins as well - but the machine operator will probably swipe all these DRMcoins every month or so to make sure they are really his.
2868  Bitcoin / Development & Technical Discussion / Re: Can anybody stall Bitcoin for 72BTC per hour? ANSWER: PARTIALLY? on: March 03, 2013, 03:33:34 PM
I guess Gavin meant "highest priority transactions"? As coin age is factored in there, you can pull this off just once.
2869  Economy / Service Discussion / Re: Noob Mtgox Api on: March 03, 2013, 12:58:10 PM
It might be helpful to post your solution for future reference.
2870  Bitcoin / Bitcoin Discussion / Re: Fundamental bitcoin flaw - revisited on: March 03, 2013, 12:57:04 PM
Since Sally has her PC 100% under her control, she does the following as example:
Sally freezes her RAM after creating the private key + putting it into sealed storage. She then reads out its contents, cross checking with the known public key to extract the private key. As she transfers the key to Ross, if he doesn't immediately publish a transaction with the coin, he's screwed.

Another alternative:
Sally (passively) measures the power consumption of her CPU while it is calculating/processing the private key.

Probably more realistic:
Sally finds a TPM chip from a country that is not too concerned with trusted computing that allows some "debug" functions - meaning she can still act as if she is really "legit" but in fact she isn't. Just look at HDCP how this stuff worked out.
2871  Alternate cryptocurrencies / Altcoin Discussion / Re: Ripple Giveaway! on: March 03, 2013, 12:19:42 AM
rniJ952TF2ohA3YhjhHMXAw4wsnybcvrCd
2872  Bitcoin / Bitcoin Discussion / Re: Campaign for XBT. A new ISO Currency Code is required for Bitcoin on: March 02, 2013, 09:31:55 PM
XVB (X Virtual Bitcoin) would also maybe fit, though the "X currencies" seem to rather have 2 letters for the currency identifier (e.g. "XAU" - X AUrum/gold) than one ("XMG" - X Metal Gold).

There are no other currency codes with numbers, so X01 or X10 are probably out of question. XBT or something along these lines probably are the best shot... Ripple was smarter and started to market their currency as XRP from the beginning.
2873  Bitcoin / Bitcoin Discussion / Re: Campaign for XBT. A new ISO Currency Code is required for Bitcoin on: March 02, 2013, 09:09:23 PM
Should be XBC

Nay. Should be XXX.

XXX is already defined in the ISO list.
2874  Local / Anfänger und Hilfe / Re: Steuer auf BitCoin wenn kein Umtausch stattfindet on: March 02, 2013, 09:00:17 PM
Es hilft übrigens wenn man ein Land angibt - nicht jeder hier ist aus Deutschland.

P.S.:
Bitcoin, nicht BitCoin Wink
2875  Bitcoin / Bitcoin Discussion / Re: Campaign for XBT. A new ISO Currency Code is required for Bitcoin on: March 02, 2013, 08:54:18 PM
See https://bitcointalk.org/index.php?topic=127604.0 as an alternative to SIX interbank (good luck in getting them to even read your mails).

Yes, ideally XBT gets included, but you might as well lobby in Bhutan to inquire at SIX for using the symbol BTC for Bitcoins.
2876  Bitcoin / Bitcoin Discussion / Re: Please upgrade to Bitcoin 0.8 and help Android/MultiBit users! on: March 02, 2013, 08:22:23 PM
I ran 0.3.x until the release of 0.8.x now, there were no real new features I needed and if really somebody would do a DoS attack on older clients I could have upgraded anyways. Since there's a bunch of security advisories now released (+ fixed) and as I wanted to try out the QT interface, I upgraded.

Maybe the remaining 0.3.x clients are on web servers or not really maintained by their owners ("Oh this Bitcoin stuff sounds iteresting, let's install it, get a few coins from the faucet and play a bit..." - 1 year later: "What's this 10 GB 'block chain file' here?!"), or even more lazy/conservative with upgrades than I am.
2877  Economy / Lending / Re: Bitfinex Variable Rate Loan on: March 02, 2013, 05:40:25 PM
As far as I understand it, 0.0% is the internal value for variable interest...
Also they seem to charge 5% of interest, not 2% on capital for lenders.
2878  Local / Deutsch (German) / Re: SendBitcoins.net öffnet die Tore! on: March 02, 2013, 01:09:56 PM
Ein großer Nachteil ist sicher, dass ich als Käufer auch ein Konto anlegen muss und erstmal einige Zeit brauche bis dort BTC auf meinem Konto aufschlagen. Vielleicht kann man das auch anonym umsetzen?
2879  Bitcoin / Development & Technical Discussion / Re: Mining is cracking SHA-256 24/7 on: March 02, 2013, 11:55:29 AM
Mining uses a double hash (= SHA256(SHA256(header)) ), this is kinda special and not too common, so rainbow tables would be a bit useless. Also miners throw away a LOT of their results - just returning all the computed hashes would saturate quite some connections.
2880  Economy / Auctions / Re: Get 1 BTC penny auction style (a bit different, please read rules) on: March 01, 2013, 06:44:40 PM
Weird + interesting. Apparently it's not even worth the risk if I (as a long term forum member with several trades) offer a whole BTC for grabs with bids of 0.01 BTC min. Huh

Well, at least it didn't cost me anything beyond time and effort. Thanks for every comment in this thread and see you around the forum in the future. Smiley
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