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3341  Bitcoin / Bitcoin Discussion / Re: "Who Needs the Internet Anyway: Taking Bitcoin Transactions Offline*" on: December 30, 2019, 04:36:07 AM
As long as there is some form internet access (even with censorship), it is easy circumvent them and use Bitcoin.

IMO, it isn't feasible for Bitcoin to exist without the internet. If internet cease to exist, it would be largely impossible for people to download the entire blockchain without taking an agonizing amount of time. Using satellites and radio antennas to form a web and broadcast transactions is possible but it is just too slow for blocks to be relayed. There would be bigger problems than Bitcoin if internet gets shut down completely.
3342  Bitcoin / Bitcoin Discussion / Re: 51% attack on: December 30, 2019, 03:14:55 AM
Well depends what their intentions are, they might confiscate all the farms to launch the attack and destroy btc to be able to force on public their own "cryptocurrency". In this way, they would have the best of both worlds, the biggest competitor would be gone, and everyone in china would have no other choice but to use their centralized government shitcoin. It's actually scary what countries as powerful as china can do to bitcoin.
It isn't necessary for them to launch a 51% attack against Bitcoin at all. Launching a 51% attack against Bitcoin wouldn't actually kill off Bitcoin but it could just spin off another fork of Bitcoin for the community to use; one that is ASIC resistant. In addition, there isn't actually any incentive to take the efforts to amass such a huge amount of computing power from the ASIC farms to attack Bitcoin. If they want to push for their own currency, they could easily just continue what they're doing right now, to block off Bitcoin related sites using their firewall and promote their own online currency.

The motivation behind a 51% attack for a state attacker isn't huge given that the gains is largely intrinsic.
3343  Economy / Lending / Re: Needing a 0.1BTC loan on: December 21, 2019, 01:47:01 AM
Looking for this again. 0.15BTC loan for a month with an interest of 0.015BTC. The address (bc1qupxdkw5p5vx093sphecla9zgydaq3r265y6pdr) will be the same as what was stated in the signed message.

I can fund this loan. Please confirm that I will be funding it and I'll get the BTC sent over.
Confirming this. Thank you.
3344  Economy / Lending / Re: Needing a 0.1BTC loan on: December 21, 2019, 01:23:38 AM
Looking for this again. 0.15BTC loan for a month with an interest of 0.015BTC. The address (bc1qupxdkw5p5vx093sphecla9zgydaq3r265y6pdr) will be the same as what was stated in the signed message.
3345  Economy / Lending / Re: 💰💰 OmegaStarScream's Lending service | No Interest | No Collateral 💰💰 on: December 20, 2019, 11:12:50 AM
Loan Amount: 0.15BTC
Reason: Need to purchase some stuff in BTC for christmas
BTC Address: bc1qlxl6g802rc754yttxglvs4mrdr6nt6e3qjxhzh
Duration: 1 month
3346  Bitcoin / Development & Technical Discussion / Re: MIner Question on: December 18, 2019, 03:08:19 AM
If a few miners were to control a majority of the hash rate (say over 51% of the network)

What would stop them from colluding and trying to 51% attack the network?

Nothing. They can attack the network by mining on the same fork. The attackers just need to be in agreement.
What if the nation states try to stop Bitcoin by setting up their own farms and forcing the miners to adhere to their rules otherwise face death?

Nothing that they can do. With 51% attacks, you can't change the network rules. You would mainly only affect the transaction's confirmation and the ability to double spend.
Is there a backup plan for if Bitcoin goes down due to collusion? Or is BTC screwed?
It'll be pretty screwed. If BTC somehow gets attacked, the main damage would probably be done with the first double spend. Subsequently, people would probably realise that it is under attack and people would switch to another coin which has a different algorithm. This could render the attack pretty useless but it'll still cripple bitcoin.
3347  Bitcoin / Bitcoin Technical Support / Re: Bitcoin Core's prune node. Please help to use it safely. on: December 11, 2019, 03:09:49 AM
From this:
When I run the wallet, I see the option:
- Discard blocks after verification, except most recent 2 GB (prune).
What should I do?
Choosing that option or not?

Yes. That is to prune the wallet.
Next, can I still recover my wallet on the other devices (if I have private key) with that prune node?

Yes. The private key is the only thing required for you to access your addresses. As long as you have your private keys, you can import it into another wallet and use it.
Last, are there options to set up the allocated space for that prune node (more than 2 GB but less than the required one for full node > 500 GB)?

Yes. You can use bitcoin.conf and use prune=X parameter to customize. The X is the space in MB. It doesn't really affect how much of a space you've allocated unless there is a major block reorganisation and that the blocks needs to be rolled back or if you want to import another wallet.dat.

The main caveat with pruning is that you'll need to synchronise the whole wallet again if you want to import a wallet.dat that was last synchronised beyond your range of pruned blocks.
3348  Bitcoin / Bitcoin Technical Support / Re: Bitcoincore in PRUNE mode with new wallet.dat file on: December 08, 2019, 11:10:09 AM
Enabling the pruning option means that the client deletes the unnecessary parts of the blockchain as it synchronises. The client will retain the information that is relevant to the addresses in the wallet.dat while discarding the rest.

Your wallet cannot have the full transaction history without the client synchronising from scratch.
3349  Bitcoin / Wallet software / Re: Mobile hardware wallets - are they really worth the attention ? on: December 05, 2019, 02:29:52 AM
-snip-
I doubt most of them are criticising the security of the wallet but they're talking more about the use of the phones as a secure hardware wallet. It is perfectly alright to use your bank accounts on your phone because the nature of bank transactions allows users to reverse transactions easily. The extra feature isn't necessary since you can use a wallet from any android phones.

Its a good thing to have the additional security features but the portability of a mobile phone doesn't make it ideal to serve as a hardware wallet.
3350  Bitcoin / Wallet software / Re: Mobile hardware wallets - are they really worth the attention ? on: December 04, 2019, 10:31:29 PM
I'm a firm believer in the fact that hardware wallets should be like a cold wallet; keeping it in a safe place and not bringing it everywhere.

When your wallet is brought everywhere, it opens itself up to a lot of attack vectors (mainly physical attacks). It would be way easier to target you as your wallet is easily accessible. My take is that those wallets should just be taken as a normal wallet but with the additional security features. A hardware wallet should be a dedicated device used solely for that purpose.

It does promote Bitcoin to some extent but I suspect that most would just overlook that feature because they have no need nor incentives to use it. Its more of a way to entice those using crypto to buy the phone.
3351  Bitcoin / Bitcoin Technical Support / Re: setting up a new node on: December 03, 2019, 04:49:10 AM
I am going to use my laptop for this. its a 64bit windows 10 pro, 8GB RAM, with 500GB HD (Free-300GB). will this free space be sufficient.
The main problem is usually with the storage space. Given that the current size is about 240~ish GB. You would probably be using the bulk of your remaining space on the blockchain. If you're only looking to use Bitcoin Core as a wallet, you can still prune the blockchain. This would still benefit the network in general, just to a lesser extent.
3352  Bitcoin / Development & Technical Discussion / Re: Is it possible that a transaction lost ? on: December 03, 2019, 01:42:40 AM
Transactions won't be invalidated. If the block gets orphaned, the node should put all of the transactions in the orphaned block into their mempool again.

3353  Bitcoin / Bitcoin Technical Support / Re: Moving not fully sync wallet Bitcoin Core? on: December 02, 2019, 04:33:53 AM
It is possible to extract the private key without synchronising the wallet. Go to Help>Debug Window > Console.
Type the following commands:
If it is encrypted, type:
walletpassphrase PASSWORD 600

If not, skip that and go directly to this step:
dumpprivkey bc1

Replace them accordingly and you should obtain your private key. After that, you can import it into a wallet like Electrum.
3354  Bitcoin / Development & Technical Discussion / Re: Yet Another Idea on: December 01, 2019, 07:33:00 AM
Imagine a brand new network from scratch. It operates sort of like a chat room, where every node has a list of all other nodes by pseudonym.
It's not exactly feasible for nodes to be able to obtain the IPs of every node, especially with dynamic IPs which means that the nodes would have different IPs every now and then. It would be impossible for them to tell which one is active if they do not connect to each node every now and then. And that is infeasible as well.
1. Every node generates it's own blockchain at zero difficulty. It's okay if nodes have different blockchains. What matters is that they all record the same transaction history. Nobody publishes their blockchain anyway.
It's not possible for every node to keep the same transaction history without some sort of consensus. Having each node operate independently of each other means that no one can be sure if they have the full transaction history.
2. Every once in a while every node gets an opportunity to publish a coinbase transaction for itself- a participation bonus!
This can be regulated by a time limit or a turn-based system or something along those lines.
Which means, the one who has the most nodes earns the most. Who is going to determine who gets the "participation bonus"? No one can keep track of how long which node has been online for without a constant connection and a central authority. This defeats the privacy and decentralised aspects of Bitcoin.
3355  Bitcoin / Bitcoin Technical Support / Re: Open Port 8333 Necessary to Broadcast Transactions? on: November 29, 2019, 03:27:28 AM
Ok, that's good to know. Any idea what would cause my node to be able to receive tesnet transactions but not be able to propagate its own?
The problem most likely lies with your transaction than with your client. For some reason, your transaction might be non standard and thus it doesn't propagate well within the network. If you want to eliminate this possibility, use an online transaction broadcaster with your raw transaction for testnet and try if it works.
3356  Economy / Goods / Looking for someone to reship for me on: November 28, 2019, 03:54:45 PM
I'm looking for someone to reship some shoes from me. The shoes are from Nike.com and they DO NOT take known reship addresses or PO boxes. Hence, I'm only looking for people who are willing to ship it to their home address before shipping it to me.

Do send a PM to let me know your postal code if you're interested.
3357  Bitcoin / Bitcoin Discussion / Re: A new proof-of-work system for Bitcoin mining? on: November 28, 2019, 08:32:47 AM
Implementing any protocol changes would likely be met with significant resistance from the community in general. Changing the mining algorithm would definitely result in a lot more resistance from the mining community and it would probably result in no change.

Putting that aside, the main factor that is securing the network right now is the cost of the resources. While the new mining algorithm could make it more expensive to mine, it could potentially result in centralisation whereby the richer could afford to control a larger percentage of the network. In addition, even if you eliminate the cost of electricity, the infrastructure and the cost of land and labour are still cheaper in countries like China and it won't have that much of an impact.
3358  Bitcoin / Bitcoin Discussion / Re: You think terrorist groups around the world use Cryptos as a means of payment? on: November 28, 2019, 07:00:48 AM
There is no doubt that crypto are a suitable candidate for terrorist financing for the terrorist organisations due to their various features. Given the low acceptance rate and volatility of the crypto, I doubt it would be wise for them to be using crypto as a main source of their financing. It would still be more viable for the terrorist organisations to trade their resources to fund their operations.

The exchange have AML and KYC policies which could help to mitigate the chances of people purchasing Bitcoin specifically just to donate to the terrorist organisation. It would be unwise and inefficient to use Bitcoin as the main donation platform.
3359  Bitcoin / Bitcoin Discussion / Re: Does cryptocurrency mining produce more pollution? on: November 27, 2019, 03:35:07 PM
Everything that we do somehow contribute to pollution so bitcoin mining should not be given an isolated case. Banks and other commercial institutions largely contribute to this pollution issue as well. But I believe with crypto usage, we somehow reduce the pollution that it create along the way. Just take for example, if you want to convert your crypto to fiat, you only need few transactions and you're good to go. Less paper trail, less docs, less incurred waste, less time consumed. So that alone will give you an idea how crypto can reduce the waste that we are generating by dealing with crypto. And with the miners on the works, we will incur even less time for our crypto transactions. Less energy is being utilized eventually.
Which is why most bank statements are now digitalised. There is no doubt that there are various tangible advantages that banks have over Bitcoin but with respect to the transaction volume verses the amount of pollution produced, traditional methods still champions crypto in this aspect.

Isn't this the same issue with a lot of computers? There are actually a lot of people who run computer recycling plants, and most of it comes down to plastic, and that's the main problem with computers and other stuff since it's extremely hard to dispose of them.
Not exactly. R-waste is a big problem in general but the fact that ASICs can only do one task makes it extremely inflexible and makes them obsolete faster. Farm's do not usually try to recycle them due to their high cost.
3360  Bitcoin / Bitcoin Discussion / Re: Does cryptocurrency mining produce more pollution? on: November 26, 2019, 10:40:59 PM
Ever since cryptocurrency has existed people have started to mine it using their PCs or Miners’ GPUs. Considering that cryptocurrency mining consumes a lot of electricity because of it using a lot of processing power, does it really cause a large ecological impact on the world?

The energy used in Bitcoin mining is largely renewable and green -- solar, hydro, wind. Solar and wind are becoming the cheapest forms of electricity, so this trend will only continue. See here: Bitcoin mining is greener than most large-scale industries: report

Regarding coal-fired and other fossil fuel electricity, Bitcoin miners also utilize already-generated electricity that would otherwise be wasted by grid inefficiencies. In other words, a non-zero portion of the hash rate isn't really adding to electricity consumption. It's taking excess electricity that's already been generated. This is called "load balancing." Some people predict that large-scale Bitcoin miners will increasingly strike up load balancing agreements with power generators because it's a mutually beneficial arrangement.
It doesn't matter if its generated by renewable energy or not. In countries like China, a lot of the farms uses renewable energy. It is mostly due to their proximity to such facilities. However, most parts of the countries are still largely dependent on coal as a method of producing electricity. The energy that was utilised could very well be used to supply to others and the dependence on coal would be much lower. Until the whole world is using renewable energy, Bitcoin would still have some contributions to the pollution, albeit indirectly.

Its important to note that due to the nature of ASICs, it is difficult to repurpose them for anything else. This makes it more economical to dispose them directly as opposed to recycling them. It thus contribute to the problem of e-waste.
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