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9361  Economy / Speculation / Re: Something unexpected needs to happen? on: August 25, 2020, 04:33:00 AM
Honestly I always expected that what needs to happen is figuring out something much better than crypto itself. I am not talking about defi, I am not talking about altcoins, I am not talking about a brand new blockchain or a new way to use blockchain, I am talking about something brand new that is much better and has no connection to bitcoin at all.

Remember just 10-12 years ago there was no bitcoin at all, it didn't exist and one day satoshi did it (whoever he is) and in the end we have it now and there are thousands of copies of it that tries to be a better and bigger version that failed. If you want bitcoin to be not going higher, you could have something totally better and at that point we would all switch to that and leave bitcoin that could stop the increase.

i can see what you mean but it won't happen overnight. what you are talking about is a revolution in the blockchain technology and something like that would take a very long time to come to reality. and unfortunately so far we have not seen that many attempts in that direction. there were some good ideas in first couple of years but nowadays everything is copy pasting to maximize profitability.

keep in mind that bitcoin didn't happen overnight and Satoshi didn't really release bitcoin in one day. he was working on it for 3 years before he released it in 2009, and before that the idea was around for more than a decade (eg. hashcash which is a proof of work system was proposed in 1997).

for people to abandon bitcoin and move entirely to a new cryptocurrency that new one has to be significantly better while finding fantastic solutions to some issues that bitcoin struggles with, hence the need for a massive revolution in technology.
besides, bitcoin can also advance and change. it is not like the design is absolutely unchangeable. it is not significantly changed so far because there is nothing better to change to. which means even if a much better solution were found, bitcoin may be the one finding it and using it first!
9362  Bitcoin / Development & Technical Discussion / Re: Is this P2SH _obviously_ vulnerable? [0.1 tBTC stake] on: August 25, 2020, 04:13:26 AM
There's a simpler example of this quite some time ago[1]. The example has SHA256d of the genesis block hash as the solution for the unlocking script. It's a much more simplified and obvious puzzle as compared to OP's as it only involves one SHA256d hash.

i don't think the two are not comparable though. if you look at that puzzle, it is actually a puzzle because there are clues. with a quick look at the hash you can get ideas (hint it has zeros at the end just like a block header hash does)
Code:
6fe28c0ab6f1b372c1a6a246ae63f74f931e8365e15a089c68d6190000000000
however if you look at the hash OP's case releases there is no hint at all.
Code:
7314b17476dbbfdabdbf76f627870cbce89a19c0
the only way to solve this is for him to first release the redeem script and someone else copies it.
9363  Economy / Scam Accusations / Re: YOBIT EXCHANGE SCAM peoples in YODA and DICE coins on: August 25, 2020, 03:44:08 AM
this is how the altcoin market also known as the pump and dump shitshow has worked for years starting from early days of that market.

this is what happens to all the altcoins not just these 2 centralized shitcoins owned by Yobit. they get pumped and you have to exit there before the next inevitable stage called dumping starts. when you fail to get out and continue bagholding something that obviously has no future you are begging to lose money.

even though pump and dump is both illegal and scammy people don't consider it that way! simply because they may make some profit from the pumps. and Yobit is a scam exchange for many reasons but not pump and dumping.
9364  Bitcoin / Electrum / Re: Fake Electrum version 4.0 and hardware wallets on: August 25, 2020, 03:25:01 AM
let's just say that it is a lot harder to steal your coins if you were using a hardware wallet but it is in no way impossible. one way is what was mentioned (blindly accept everything) but there are sometimes exploits in these hardware wallets that the attacker could take advantage of and steal your coins. for instance recently there was a bug that involved the way they sign SegWit transactions and compute fees which could end up spending your entire balance by sending it to an arbitrary address.
9365  Bitcoin / Development & Technical Discussion / Re: Is this P2SH _obviously_ vulnerable? [0.1 tBTC stake] on: August 25, 2020, 03:13:59 AM
Can you explain how an address can be spent by anyone without revealing its private key? From reading your answer it looks like if you make the locking script and unlocking script push the same data then the input can be spent, but I think my reasoning is wrong. And is it possible for someone to create exposed P2WSH and P2WPKH addresses too?

bitcoin works by utilizing locking and unlocking scripts. each time you create a new transaction you are providing the unlocking script to the coins you received while creating new locking scripts that the receiver has to unlock. you can think of these as conditions that needs to be met too.

a bitcoin address is the human readable form of a handful of these predefined locking scripts.

so how can it be spent without a private key? by providing a script that doesn't have any CheckSig OPs in it (there is an exception for this too). for example a simple locking script can be this:
Code:
OP_ADD OP_8 OP_EQUAL
this needs an unlocking script (a signature) that has 2 numbers that when added are equal to 8.
so anyone can provide the answer (0+8 or 1+7,...) and "unlock" this script aka spend the coins.

to turn this into an address this locking script could be wrapped in a P2SH so that it hides what the script is by only providing its hash then the signature script should contain both the unlocking script and the script posted above now called redeem script.

P2WSH is the same as P2SH in the sense that it is paying to the hash of an arbitrary [redeem] script but it is using SegWit (the signature is placed in witness).
P2WPKH is an entirely different address and represents a certain script that contains an OP_CHECKSIG so it can't be used like this.
9366  Bitcoin / Development & Technical Discussion / Re: How do I restore the last 7 characters of the private key? on: August 25, 2020, 02:54:24 AM
It shouldn't be hard to derive the checksum of the private key since it is simply copied from the first 4 bytes of the private key, right?

the hardship is the fact that with the incomplete WIF you have less than the 256-bit of the actual private key so you can't compute its public key then hash then the checksum. in this case the actual key is missing 10 bits so it has to be brute forced.
9367  Other / Meta / Re: TOR + New accounts = Impossible (for free). on: August 24, 2020, 08:46:57 AM
there is a big chance that the paid VPNs are abused too, but I won't buy one just to try.

a small chance not a big one. most of the times abusers don't spend any money for their abuse and even if they do, the paid VPNs have better IP addresses and lots of them so the chances of finding an IP address that was abused and still has its evil points (hasn't gone back down yet) is very small.
but you usually want to buy VPN for other purposes to increase your privacy and also use it to sign up here.
9368  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum and ETHER difference on: August 24, 2020, 07:56:36 AM
Ethereum is an implementation of blockchain with defined rules, it is the same as Bitcoin is another implementation of blockchain with defined rules,

blockchain is simply a chain of blocks and you can refer to it as "the database". as a result you don't implement the database, you implement the protocol. Bitcoin is the implementation of a different set of protocol rules where as Ethereum is the implementation of another different set of protocol rules.

now each cryptocurrency has something we refer to as "coins" which have the same name as the project. for example Bitcoin coins are called bitcoin, Litecoin coins litecoin and Ethereum coins Ether. of course in ethereum it is not a "coin" per se, it is a token and is used as fuel for smart contracts. but the concept is similar.
9369  Economy / Speculation / Re: Bitcoin can fall up to $9k or rise up to $17k - which one will happen. on: August 24, 2020, 07:15:24 AM
i disagree on both sides for the same reason this type of prediction was wrong when price was in $9k range.

first of all bitcoin is in a rising mode and during times like this it is a lot harder for its price to go down than it is to go up. that means going to $9k (below 2 very strong buy supports at $11k and $10k) is a lot harder than going above $12k (the resistance).

secondly so after breaking a resistance we can always expect a jump which is usually due to panic buys but since $12k hasn't been such a big resistance and not for long enough time to shape such FOMO action, a >41% rise is not possible. such jump at this point would be to $14k range (>16% rise) which is a more reasonable speculation.

we had the same situation in $9k range too. the same people were predicting a fall down to $6k (some even to $3k) with the same flawed logic. the same rules applied then and they apply now too. we could expect a fall to $8k (a small drop) but a bigger rise was more possible with the difference that $10k was stronger resistance and had lasted longer.
9370  Economy / Trading Discussion / Re: Investment advice backed by real experience on: August 24, 2020, 05:25:56 AM
Quote
What makes Bitcoin valuable?
Bitcoin is rare and useful

there should be more emphasis on the useful part because being rare means nothing without it and the main reason why bitcoin is valuable (and continues to increase in price) is because of the utilities it provides alongside the uniqueness of it.
otherwise there are lots of altcoins that are a lot rarer than bitcoin while they have a lot less value which continues to decrease too.
9371  Bitcoin / Development & Technical Discussion / Re: Bitcoin Empty Blocks on: August 24, 2020, 05:14:56 AM
Compact Blocks (BIP 152), a standardized form of Greg's efficient block relay, a modified version of which is used in the FIBRE network, is mainly designed to reduce the amount of bandwidth required to propagate blocks. It does have the side effect of lowering latency during propagation when High Bandwidth mode is enabled, but ultimately validation of the block is still required:

true but what i meant was that technically the mining node receiving a new block still doesn't have to verify the whole block ie. verification of each transaction inside that block because it has already verified them before when it received those transactions in its mempool. and that is the same principle as BIP-152.
considering the fact that verification takes more time than downloading (specially for legacy transactions with multiple inputs since they have multiple ECDSA and lots of hashing) things could be significantly optimized that way.
9372  Other / Beginners & Help / Re: Be careful of shitcoins on: August 24, 2020, 05:02:18 AM
This is the risk that you have to take when investing in a new coin there are no guarantees that the developers are dedicated to making their project top notch or competitive in the market, we have seen that on coins that were launch back 2018 and 2019 most of them are gone and out of the market, and there are still coins like that now.

the developers' dedication doesn't change anything if the coin itself is garbage. look at all these bitcoin copies that are more than a hundred of them, some have very dedicated developers that are also throwing a lot of money at their shitcoin but it hasn't been able to grow for many years and still remains a shitcoin and their blocks remain empty because nobody uses them.
9373  Other / Beginners & Help / Re: Schnorr signatures for dummies on: August 24, 2020, 04:51:58 AM
math on the secp256k1 curve called Elliptic Curve Digital Signature Algorithm (or ECDSA). The algorithm allows you to take one number (i.e. a private key) and derive a public key from it.
ECDSA algorithm allows you to take a private key and a message and produce a signature.
the algorithm involving computation of public keys from private keys is simply the elliptic curve math that is used in elliptic curve cryptography in general.

Quote
We have a privatepublic key, when currencies are sent, they can check that the ECDSA signature matches the message.
typo?

Quote
Schnorr signatures are quite simple compared to ECDSA signature, more secure with powerful property: linearity.
i don't think this is correct (unless you have a reference for it). both ECDSA and ECSDSA are similarly secure. the only difference is that ECSDSA algorithm is easily verifiable to be secure.

Quote
Schnorr's signatures are already ahead of ECDSA,
"ahead" is very vague.
as far as usage goes, Schnorr is not used that much (because of the patent and the fact that an alternative EdDSA was introduced which was similar and quite fast) but ECDSA is very popular and used a lot.
as for creation dates Schnorr was introduced in 1989 while ECDSA was introduced in 1992 so both are nearly equally old.

Quote
A comparison of Schnorr signatures and ECDSA?
you only focused on one characteristic of ECSDSA (public key aggregation) but Schnorr has more characteristics. for example it is a lot faster to verify compared to ECDSA because of its algorithm.

in bitcoin the proposal is also introducing additional steps that removes some extra bytes (DER encoding and pubkey starting byte) which shrinks each signature in size.
9374  Bitcoin / Development & Technical Discussion / Re: Bitcoin Empty Blocks on: August 24, 2020, 03:43:37 AM
When it comes to validating a block, depending on the composition of transactions, it can take upwards of a few seconds (even more in some pathological/adversarial scenarios) to complete.

that is the main reason for empty blocks but keep in mind that miners (or any node for that matter) don't have to download or even verify the whole block 99% of the time because when their node has been online and receiving transactions that means it already has all the transactions in that block too (unless the other miner included transactions that weren't broadcast to the network which would be a small portion of all transactions) and has already verified them when they received the transaction in its mempool.
which is why the number of empty blocks like this has decreased drastically compared to 3-4+ years ago (eg BIP-152 was introduced in mid 2016).
9375  Other / Beginners & Help / Re: Mistakes,problems,misconcept on: August 23, 2020, 05:39:23 AM
Quote
BITCOIN RUNS/ BITCOIN FUNCTIONS ON BLOCKCHAIN TECHNOLOGY

this statement is not that wrong although it sounds strange.

the term "blockchain technology" is simply referring to the technology that a cryptocurrency uses. that includes everything that makes bitcoin work such as the cryptography, the P2P protocol, the blockchain (database), the proof of work algorithm and more.
so in a way you can say that bitcoin runs on this technology.

the term "blockchain" alone is sometimes used instead of "blockchain technology" by mistake to mean the same thing but it should be used only to refer to the "database".
9376  Other / Beginners & Help / Re: MultiCoinAds: To be trusted or not? on: August 23, 2020, 05:30:36 AM
They also claim that they already have 1790 users as of today on a domain which is just 4 days olds  Roll Eyes
That's suspicious if you would ask me.

the website is actually 1 day old because they claim they have launched on 22-08-2020 and the number is up to 2,428 Users already Cheesy
but i don't think it is that hard to get users for a shitty website that says "earn bitcoin" in it though. there are lots of newbies looking for a way to earn bitcoin who go to these sites.
the nature of it (ads) is flawed that all similar sites are either already Ponzi scheme or will turn into one sooner or later.
9377  Bitcoin / Bitcoin Discussion / Re: Bitcoin Holders have an opportunity to earn interest due to cred partnership on: August 23, 2020, 05:15:10 AM
i don't trust anything that involves bitcoin.com because it has a very shady history with many scam cases. you see it is not just about having bcash but about scamming lots of newcomers who go to this highly ranked website in search results (.com domain with bitcoin name when they search bitcoin) and when they try buying bitcoin they are given a shitcoin called bcash instead.
besides this lending design and interest looks very centralized and i don't like centralization.
9378  Bitcoin / Bitcoin Discussion / Re: key safety strategies? on: August 23, 2020, 04:32:44 AM
If you are not afraid to tinker with software a little bit, I'd suggest trying to make your own cold storage setup. You will need an old PC or laptop that will be used to access your wallet, and this device must be kept offline forever. You'll need to just get a USB stick, install Tails on it and run an offline Electrum wallet to create your wallet and then sign transactions when needed. Detailed guide [ur=https://electrum.readthedocs.io/en/latest/coldstorage.html?highlight=usbl]here[/url]. Also make sure to verify the signatures on each software in this setup - the OS, the wallet, etc.

but Tails comes with Electrum pre-installed on it so you can't verify Electrum's signature anymore as far as i know because it is already extracted.
besides isn't it harder to use persistence with Tails that is designed by default not to leave anything behind? and if you want to use it installed on a USB to be used as the cold storage then you need persistence.
i personally find it better to use a general purpose OS (like Ubuntu) for this purpose rather than a specialized one.
9379  Bitcoin / Wallet software / Re: What are the risks of mobile wallets? on: August 23, 2020, 04:09:44 AM
do you carry around all the physical cash you have in your pocket or purse every day? obviously no. you only carry around small amount of cash. that's the same with bitcoin, just because you can physically carry a million bitcoin in a phone wallet it doesn't mean you should. a phone wallet should be considered similar to a purse where you put cash in to carry around even if it has better security.
on top of that it is digital and can be damaged. for example next time you connect your phone to a power outlet to be charged the storage may be damaged and your wallet be wiped.

in short unless you have absolutely no other options, you should not use a phone to store your bitcoins. instead use hardware wallets, paper wallets and other cold storage options.
9380  Bitcoin / Development & Technical Discussion / Re: Bitcoin Core: can it show OP_RETURN data on the GUI ? on: August 23, 2020, 03:59:55 AM
Perhaps giving the user the ability to add simple regex plugins that could parse certain OP_RETURN transactions in their wallet and display relevant info would be a safe and useful feature.

there are only two types of OP_Return that i can think of that contain relevant information that can be displayed.
- human readable strings, which should never be shown by the wallet due to the attack surface it introduces and is explained above. even with modifications it still isn't a good idea. besides the user can do the UTF8 decode of the hex themselves in a website online or in their terminal.
- Omni layer transactions which can be very simple to show but that would mean bringing an altcoin feature to a bitcoin client which won't happen.
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