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701  Bitcoin / Bitcoin Discussion / Re: BitCoins for Edward Snowden. on: June 13, 2013, 02:24:16 AM

Quote
The latest facts show that he wasn't exactly a hero after all...

http://www.internetevolution.com/author.asp?doc_id=264389&f_src=securitysentinel

Ummm, the facts are no-one can know the facts about these programs because they have placed themselves "legally" above scrutiny. The tech giants are legally bound to lie about any involvement so you cannot trust them and the secret court rulings on who does what are ... well secrets. The web of deceit is deep and tangled ... believe whatever 'facts' you like I guess.

NSA is not above telling lies Wink


I would say maybe the point is just about the facilitation, the convenience of working through the client-side tool. Instead of making the FEDs work (i.e, send user information on a strictly one per warrant basis, and in a uniform format), the tech companies and ISPs choose to make it comfortable for them, which increases the risk of abuse.
702  Economy / Speculation / Re: If you're not out, get out. on: June 12, 2013, 04:23:53 PM
So they were right? Bubble did not deflate completely and it dropped 2.5 times further down?
Few people in the thread were entirely right. Nagle certainly wasn't.



I'm the original poster in this topic. I called the collapse of Bitcoin on June 11, 2011.  I wrote "Bitcoin, the new "digital currency", looks like a Ponzi scheme. Only Ponzi schemes chart like that. When Ponzi schemes crash, they crash fast, and they crash all the way." "There's no revenue model here. All growth comes only from new investors. This is a bubble in its pure form."

It's been all downhill since then. The price was $17 then. It's dropped $4 per month for the last four months.  It's at $2.52 now.

Our criterion for "Dead" on Downside was when the price was off 90% from the high. Bitcoin is now dead.

We warned you. You didn't listen.

If you have substantial cash in an exchange, get it out now. We're going to find out quite soon which exchanges have all the customer's cash and which don't.
He called bitcoin "dead" $0.52 and 30 days away from the two year low from which we haven't come remotely close to having seen again.

This is the best call in the entire thread.

Of course... if either Nagle or Foo was confident in their predictive ability, they would've shorted btc at 5:1 leverage on Bitcoinica and made a fortune. They can still short if they're confident. But I'm guessing they prefer to make predictions without backing them.

Enjoy your euphemism. The rest of us are building stuff.



He didn't make a right call, what he was saying can never be defined as a "call", just saying it's going to go down doesn't make it a "call", to make a call he has to give a target a priori, which he didn't, it's all hindsight.
703  Bitcoin / Bitcoin Discussion / Re: BitCoins for Edward Snowden. on: June 12, 2013, 01:40:21 PM
he probably knows alot more than you do about which is the safest place to go after doing what he's doing.
Maybe, but he does seem to be missing at the moment.  Whisked away to Beijing, perhaps, or maybe our National Hero is already living the high life in Russia?

It may sound like news to you, but Hong Kong indeed doesn't ultimately answer to Beijing, at least not always.
I have been Hong Kong (China too), so I am under no illusion that the people of Hong Kong live under the same strict regime as the people of mainland China.  That doesn't mean China isn't in control.  And Snowden seems to be betting on exactly that - if he is allowed to stay in HK, it will be because China has stepped in under Article 3 of the US-Hong Kong treaty (which allows Hong Kong to refuse to hand a person over if it believes that it might impact China's "defence, foreign affairs or essential public interest or policy").



If Snowden is that shrewd with politics(which I doubt), he should know that if China allows him to stay, she will get no credit because he is in Hong Kong, otherwise if he is handed back, it will be face-losing for China because she apparently chooses to cooperate with her assumed ideological archenemy, so yes, he indeed made the right bet, but only by coincidence I guess.
704  Bitcoin / Bitcoin Discussion / Re: Huge Spike in Bitcoin Mining in Europe on: June 12, 2013, 01:28:06 PM
It's Hitler's new miner in his bunker.
705  Bitcoin / Bitcoin Discussion / Re: BitCoins for Edward Snowden. on: June 11, 2013, 03:39:38 PM
Do not confuse Hong Kong with China.

They are not the same. Not by a long shot.

A clever tactic on your part though.

Thanks. Grin

Let's not pretend Hong Kong doesn't ultimately answer to Beijing
either though.

Strange gamble on his part, especially after telling the Guardian newspaper that he had "full access to the rosters of everyone working at the NSA, the entire intelligence community, and undercover assets all around the world, the locations of every station we have, what their missions are and so forth."  Way to make himself a target.

It may sound like news to you, but Hong Kong indeed doesn't ultimately answer to Beijing, at least not always.

Many spiritual organizations like Falun Gong, http://en.wikipedia.org/wiki/Falun_gong#Suppression which are pervasively suppressed/banned in the mainland China, have large bases and many believers in Hong Kong and do lots of propagandas there. Lots of anti-CCP books are also published there, and in the June 4th of every year there was a massive assembly of people gather to commemorate those killed in the Tiananmen Masscare, all these would have been impossible had Hong Kong needed to obey Beijing's order when it comes to evictions/deportations.
706  Other / Politics & Society / Re: PRISM - The new watchdog on: June 11, 2013, 11:14:05 AM
It's intolerable that NSA, the Holy See of the cryptographic world, somehow considers it appropriate and justified to create a program which operates based on the abominated principle "security through obscurity". Let's be real, no terrorist worth his salt is reckless enough to not take into account the hypothetical existence of massive and thorough surveillance programs by all kinds of governments, and will not do their uttermost to foil such imagined attempts at eavesdropping. The mere existence of such programs should thus never be considered a national secret(the values of the variables used in the data analysis should be), rather than be transparent and explain to the public why the survelliance program can never be used to collect private data of law-abiding Amercian citizens, like any self-respecting cryptologist would have done, they opt to keep everything in secrecy and put Americans' Fourth Amendment rights in peril.
707  Bitcoin / Bitcoin Discussion / Re: Bitcoin Inflation or a way to increase number of Bitcoins on: June 10, 2013, 02:44:13 PM
On one hand, the system is specifically designed to make what you have in mind crazily difficult to happen, the supply of "Bitcoin" can only be increased when every current user(literally) agree to do so. Otoh, it's also ridiculously easy, you can go fork it right now and change the limit to whatever number you like.

This is Bitcoin.
708  Bitcoin / Press / Re: 2013-05-29 Mozilla Foundation eyes Bitcoin donations on: June 09, 2013, 11:33:03 PM
Used to be a Firefox evangelist, and rally for them with the same enthusiasm as I have now for Bitcoin, haven't been one for a long time, since the browser and the web landscape has been fundamentally shifted, the war has already been won, and they were the guys that made it happen, Google only jumped on the bandwagon that Mozilla had built, in fact, Mozilla and Linux are the projects that gave me faith in the possibility of changing the world with the sort of open source projects that no big guy gives a damn about at the beginning.

This action would be important for me as I have long hoped to see them moving from Google as their main source of funding.
709  Bitcoin / Bitcoin Discussion / Re: Seems Apple is planning to release a currency of their own. on: June 08, 2013, 09:43:27 AM
This could explain the price drop of Bitcoin yesterday.
Apple releasing an eCurrency does sound like a possible threat.

However; if it turns out to be just another digital 'gift-card', then it might even be good news for Bitcoin in the end, because of the expected increase in media attention for eCurrencies.

Of course it's just another 'gift card', or are you telling me that Apple will somehow allow you to get their coins, wait for the price to go up, then come back to buy their products at 1/3 the price?
710  Bitcoin / Bitcoin Discussion / Re: new MtGox phising websites, always check for HTTPS on: June 08, 2013, 04:36:16 AM
It's funny how many people buying bitcoins completely neglect digital signature for their network traffic.  Roll Eyes
711  Bitcoin / Bitcoin Discussion / Re: Cryptographic "breakthrough" by NSA? on: June 08, 2013, 02:46:16 AM
Quote
Seriously, get a clue, there is no such thing as "breaking" SHA256, other than quick collison finding, which will only affect address hashing(can be updated to something theoretically unbreakable), and most certainly it doesn't affect mining at all.(to quote Gavin, we would have been just fine using MD5).

But what about my rainbow tables.......



That's the whole point, it has nothing to do with all the easy collision-finding algorithms you can come up with.
712  Bitcoin / Bitcoin Discussion / Re: Cryptographic "breakthrough" by NSA? on: June 08, 2013, 02:25:42 AM
Seriously, get a clue, there is no such thing as "breaking" SHA256, other than quick collison finding, which will only affect address hashing(can be updated to something theoretically unbreakable), and most certainly it doesn't affect mining at all.(to quote Gavin, we would have been just fine using MD5).
713  Bitcoin / Bitcoin Discussion / Re: Seems Apple is planning to release a currency of their own. on: June 08, 2013, 02:17:32 AM
Not a threat at all, for one thing people would not be able to trade imoney, it has to be pegged to USD, so it will go up and fall with it. And no merchant will accept something Apple can basically just "print".
714  Bitcoin / Press / Re: 2013-06-06 Coindesk - China’s romance with Bitcoin continues on: June 06, 2013, 03:14:54 PM
What will happen when we pressure test CCP's tolerance? Like, by funding human rights activists with it?
715  Bitcoin / Bitcoin Discussion / Re: a 51% attack costs $20,000,000 and is devastating on: June 06, 2013, 02:48:58 PM
No, long before you cross into the 51% domain, people will start noticing, when you are at 40%, you already would have more than 60% of chances to mine 6 blocks in a row, you have no excuse. And people will abandon the network not because they don't believe you ,but because it makes no sense economically to mine anymore, when you get all the blocks. And if you fancy being the sole miner in a network and still confident to be able to somehow lure people into use it, why not just fork?  It's only one day's work after all.
And what if attacker will extremely clever (;]) and won't reveal he controls 51% by splitting his power in 10 different pools?

Then you will be working on 10 different chains, each with 5% of the network hashpower behind it?

I was unclear in the quoted post,  if you don't store'em blocks and suddenly flood the network with a longer branch, you can't attack the network, your blocks will be in the main chain the first time.
716  Bitcoin / Development & Technical Discussion / Re: What if the devs are ordered by a US judge to include a government backdoor? on: June 06, 2013, 12:15:53 PM
Also, all the alternative clients developers will have to understand the Bitcoin-qt code, some of them will notice it if there is anything wrong.
717  Bitcoin / Bitcoin Discussion / Re: What exactly are we mining? on: June 06, 2013, 11:06:09 AM
I give up. It's like talking to a wall of ASIC miners. "The 51% attack is not as problematic as it's made out to be, even if it occurs." - "But skript kiddies could do a 51% attack and what then?"

No, I was talking about the network in its early days, not right now, and if we give up on proof of work, it will shrink to what it was like in its early days.

If you don't use proof-of-work, a possibility is to use one-IP-per-vote, a script kiddle in control of zombie machines could then very easily pull off a double spend attack under such a system.
718  Bitcoin / Bitcoin Discussion / Re: What exactly are we mining? on: June 06, 2013, 10:54:55 AM
Had Bitcoin not being designed this way, it would have been killed by a different kind of 51% attack in its early days, Bitcoin doesn't only need to face threats of governments, but also that from botnet operators, random script kiddles etc. In fact, that we are dealing with government pressure itself is evidence enough that the system worked. Also, 51% attackers can follow you wherever you go, however many times have hard-fork.





So you have 2, 3, maybe 4 hard-forks which brought the attackers exactly nothing. How many more times would they then try after that? "Dude, stop trying to hit that ghost with your sword. It went clean through doing nothing the last 5 times!" - "Maybe if I swing extra hard next time."

With the current design, the only entities that are powerful enough to do a 51% attack are determined groups with vested interest in the old system(govs/banks, etc), so it's possible they will keep trying despite the cost. But again, the more important point is-what would have happened had it not being designed this way?  Some script kiddles in control of several thousand zombie machines could have subdued the whole network.
719  Bitcoin / Bitcoin Discussion / Re: What exactly are we mining? on: June 06, 2013, 10:38:47 AM

"maintain and secure"=protection against sabotage=beat any malicious third-party to it.

The dreaded 51% attack? That's not viable anyway. Fork off, kick out the responsible peers, resume mining on the 49% fork, 51% fork devalues, done. Whooppdeedoo.

Now if you want to kill bitcoins, there are way more viable ways to do it. Like cutting off the arms ears eyes and mouths. Which is coincidentally exactly what's been starting to happen these last few weeks.

Had Bitcoin not being designed this way, it would have been killed by a different kind of 51% attack in its early days, Bitcoin doesn't only need to face threats of governments, but also that from botnet operators, random script kiddles etc. In fact, that we are dealing with government pressure itself is evidence enough that the system worked. Also, 51% attackers can follow you wherever you go, however many times have hard-fork.



720  Bitcoin / Bitcoin Discussion / Re: What exactly are we mining? on: June 06, 2013, 10:26:29 AM
No, you're missing the point; yes it's kinda required to establish who will be processing the transactions for the round, but the actual computation going on is nothing more than hashing against a random difficult but easy to prove puzzle, hence pointless busywork.

It's pointless busywork designed to scale according to how many other people are doing the same pointless busywork.

Mining gold is pointless busywork; we already have all we'll ever likely need for industrial production, but people continue to do it because it has value.

I consider most of what goes on in Washington, D.C. to be pointless busywork.

The difference of course is that we don't purposely pour rocks and dirt over top the gold, put on a blindfold while digging and spin around 3 times in a circle to make it more difficult to retrieve and thus claim it's more valuable, we simply dig when we believe there is gold to be found. We understand that if you agree with bitcoin in it's entirety and have drank the coolaid, that "mining" coins is necessary and thus acceptable. Bitcoin's code however is not a law of nature but a constructed set of rules that can be changed with consensus, leaving absolutely no excuse not to find more intelligent and less wasteful replacements for proof-of-work concepts later on.

I admit it; Cultist defenders of energy waste are a sort of pet peve of mine.

You completely miss the point. Mining is what miners do to prove(albeit usually without their awareness) to the Bitcoin investors/users their commitment to maintain and secure the payment network,  the bitcoins you mined is the proof itself, every payment network requires substantial infrastructure investment, you can't build a Paypal/WU competitor with no solid hardware.

The hashchain itself is what tells you that the ledger is the result of network consensus, if you can't do it anyway else more efficiently,  then it's not pointless busywork, because it serves a useful purpose in the most efficient way, or you would be essentially saying all cryptographic works(at least those inlvoving hash functions) are pointless busyworks.
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