right now, they're fleeing to USD out of habit and ignorance. Is there any actual fleeing into the USD going on right now, or are we seeing the debt repayment-induced deflation, that had been previously masked by QE? |
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This information is public from 2010, since the Sony PlayStation fiasco where they used R=4 to sign *all* the games in their online store. It was known right from the beginning, when ElGamal published his signature scheme, on which Schnorr signatures are based, on which classical DSA is based, on which ECDSA is based. From his 1985 paper: Note 2: If any k is used twice in the signing, then the system of equations is uniquely determined and x can be recovered. So for the system to be secure, any value of k should never be used twice. And should have been obvious to anyone who has implemented the cryptosystem too, if k didn't have to be secret/unique you could just make it a parameter of the system and eliminate r and halve the size of the signatures.
I bet there would have been fewer of these errors over the years if k had a more informative name from the beginning. Maybe something like "ephemeral private key" to automatically make people notice that generating k randomly is as important as generating private keys randomly. |
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For code to have been released into production with such a mistake is *clearly incompetence* and I am not talking about the particular dev (everyone makes mistakes) but by the organisation itself (where was the code review?). I would not be surprised to learn that one person at BCI still works the same way he did back when the service launched and just pushes changes he makes directly to production servers with no review or testing. |
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A Coinbase account isn't a wallet.
You don't have any private keys - they do.
That number you see listed as your balance is the amount of Coinbase's bitcoins they promise to spend on your behalf.
If you want to actually own Bitcoins, you need to use a Bitcoin wallet.
It's unfortunate that rampant false advertising in this space has resulted in new users not understanding that difference between a Bitcoin wallet and a Bitcoin bank account.
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The more people are paid in BTC for services, employment, etc. the higher the price of BTC will go.
They have to be paid in BTC, and they have to save in BTC. Otherwise it won't work. |
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At ~3600 BTC/day, the current price of ~$350 / BTC requires ~$1.3 million of new capital (money, energy for hashing, etc) to enter the system. Your list of capital types should include products and services. Every person who sells their productivity for Bitcoin and does not immediately spend what they earn is contributing to that ~$1.3 million/day requirement. |
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We can't rely on Bob not to spam the blockchain (to the point of disrupting service) using a bazillion Bob coins, each of zero market value, therefore the only answer is that transaction fees must remain in bitcoin to use the bitcoin blockchain (or sidechains denominated in bitcoin). That quote makes me think there's still an unmet need for collaboration between cryptographers and market economists. |
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Let's say a dictator declares, "anyone who accepts any currency other than the state currency is subject to arrest and 10 years in prison".
It doesn't matter what awesome crypto tech we come up with. It will never see the light of day. Law enforcement shows up at the shop, if the merchant lets anyone walk out of there without having paid in the state currency, he goes to prison. All merchants who are not otherwise breaking the law, being rational, will not risk 10 years in prison just to bypass chargebacks and 2% fees. Can I ask in which country you live, and which ones you've visited? The reason I ask is because in my (admittedly limited) experience outside the G7, what I've observed is that as regimes become more dictatorial the willingness of the population to find creative solutions for bypassing the dictates increases along with the totalitarianism. It's not a concept that people who have lived in relatively free countries would be familiar with, and it's something that it's easier to understand after having witnessed it. |
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I think that if government declares it illegal to accept bitcoin, that is the end of bitcoin in that country. No one is going to risk prison merely to accept bitcoin. The consensus will be unsustainably small, there will be no one to trade with except a few other extreme risk takers. It'll be like 2010 except there's far more risk and far less benefit (the price will not increase again like it did back then). End result is bitcoin dies in that country.
It still flourishes elsewhere of course, and the iron-fist country forfeits economic growth. The more countries that ban it, the more a lax country can benefit by allowing it. But let's not fool ourselves into thinking bitcoin can locally withstand the iron fist. I understand that you're not willing to put in the work needed to make Bitcoin's resistance to local oppression more robust. You're making an error when you assume that just because you're not willing to do it that nobody else is willing to do the work either. |
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selling in Nov 2013 was not a bad call, especially if a guy had use for money in 2014. Selling on November 3rd was a good call? |
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He should make up his mind:  |
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Lots of speculation about the Bitcoin halvation but no way to tell the specific date.
(northern) Summer '16. ish...  Probably. |
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That means make it illegal to trade btc to real money and vice versa. So if i want to buy food for example and i only have bitcoin, then i will ended up having problem. This reduces the appeal and demand. Like i said no way they can shut it down but just makes your life difficult until you give up.
It's also illegal to drive faster than the posted speed limit. Plenty of people find ways to do it anyway while managing their risk of adverse consequences. It will be easier to bypass laws that restrict Bitcoin usage than to bypass traffic laws - after all, censorship resistance is just a software problem. |
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If you're annoyed at how they clutter the "show unread posts since last visit" page, then you can add those boards to your ignore boards list. (I'm thinking of changing this page so that you can click a button next to each thread to ignore the board it's in.) If you're in the mood to make changes to the forum, please consider adding an "unwatch" link to the watchlist page next to each thread. Here's the problem I encounter: - I configure my watchlist to automatically add all threads in Bitcoin Discussion
- People mispost crap threads in Bitcoin Discussion that quickly get moved to the correct area
- I'm still Watching the crap threads, so the watchlist is less useful than it could be
- Removing the crap threads from the watchlist means opening each one individually to access the unwatch link, so it's usually not even worth the trouble
- Therefore, it's easiest to only read and post in Cypherdoc's "Gold collapsing, Bitcoin up" thread instead rather than attempting to use any other part of the forum.
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My point is that the fact that Homo Sapiens has some Neanderthal genes doesn't implies that it's love which determined the Neanderthals extinction, it could still be just darwinian fitness and rape. I'd guess that it's unlikely that the modern concept of love existed that far back in history. Rape probably also isn't a valid concept for pre-ethics protohumans, any more than it really makes sense to describe duck reproduction as rape. |
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perhaps if the Bitcoin price gets so high that it becomes impractical or expensive to embed Bitshare stock certificates into an OP_RETURN. Easily fixable. Make 1 satoshi equal to more than one share of stock. |
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That said bitcoin's payment or remittance functions are what make the store of value function valuable. The more useful the payment functions are and are used the more valuable the store of value function becomes. Imagine bitcoin with no payment function but the same store of value function, yes the store of value function would work and remain fixed, but it wouldn't be valued very much. The phrase "store of value" is almost completely useless because certain goldbugs have ruined it by treating it like some kind of intrinsic magical property. It's best described as a behavior, or as an emergent property: If the right conditions are met, a good medium of exchange can also behave as a store of value. |
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Why use sx or pybtctools? Easier, no need for blockchain, diversity, curiosity? Why do we have Firefox, IE, Chrome, and Opera? |
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