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9441  Bitcoin / Bitcoin Discussion / Re: Exactly 10 years ago Someone did a transfer of 184M BTC on: August 14, 2020, 10:31:30 AM
what about mining simulation that able to create fake hash rate without mining rig resulting in miners getting btc without actually deserving it ? would that be possible ?

hashrate is not some imaginary value that can be created out of thin air, it is the amount of work a specialized hardware can perform. imagine when you play a game with your PC using your GPU. if you have an old one and it can't handle the new game that demands a lot of "work" you can't do anything about it. there are optimizations but after that no matter what you do, you won't be able to run that game. you have to buy a new GPU or more than one to get more "power".

hashrate is the same. if your hardware (called ASIC) can only compute X hashes per second, you can't do anything to make it compute 2X hashes per second. that is physically impossible. you have to buy more ASICs to be able to have more hashrate.

What if there is a technology to mine 1000x times faster with just a regular pc and someone has , but he exploit it really patiently not really showing anyone ?

that would be science fiction-y.
not to mention that the internet would break because if you could find a way to mine bitcoin 1000x faster than the current entire hashrate with just your PC, that would mean SHA256 is obsolete and SHA256 is used in a lot of places on the internet.
9442  Bitcoin / Bitcoin Discussion / Re: Exactly 10 years ago Someone did a transfer of 184M BTC on: August 14, 2020, 09:44:27 AM
what about mining simulation that able to create fake hash rate without mining rig resulting in miners getting btc without actually deserving it ? would that be possible ?

hashrate is not some imaginary value that can be created out of thin air, it is the amount of work a specialized hardware can perform. imagine when you play a game with your PC using your GPU. if you have an old one and it can't handle the new game that demands a lot of "work" you can't do anything about it. there are optimizations but after that no matter what you do, you won't be able to run that game. you have to buy a new GPU or more than one to get more "power".

hashrate is the same. if your hardware (called ASIC) can only compute X hashes per second, you can't do anything to make it compute 2X hashes per second. that is physically impossible. you have to buy more ASICs to be able to have more hashrate.
9443  Bitcoin / Development & Technical Discussion / Re: Would this bitcoin site be a good idea? on: August 14, 2020, 09:36:41 AM
I made a 0.4 satoshi per byte transaction and it took 5 days to get confirmed.
Wow, you are lucky man. I would never risk to make transaction with a fee less than 1sat/byte

majority of bitcoin nodes won't even accept a transaction that has a fee less than 1 satoshi/vbytes, the problem here is that some block explorers compute "vbyte" in a weird and wrong way that ends up being bigger than it should be so the result of dividing total fee by that value becomes smaller hence the wrong 0.4 value here.
9444  Economy / Speculation / Re: We will likely see a sharp increase then decrease in price on: August 14, 2020, 07:06:11 AM
One way or another, the current period of the cryptocurrency market is very different from 2017-2018.
theres a slight different from 2017 because the increase right now is not high enough but it retains  . 2018 was a dump year if i still remember which is differrent from this year because earlier this year we already see a growth and it rested for a while but here it goes again .

you are both thinking about the end of 2017 not the beginning of it. or mainly the end of 2016 and start of 2017.
at the start things were actually pretty similar to these days. price was creeping towards the previous ATH of that time which was a little lower than $1200 and it was struggling to break multiple resistances since many kept cashing out and created sell pressure. we even saw a couple of crashes before the ATH was reached and broken. it took about 5-6 months to stabilize above that ATH (ie $1200) and never come below it again.
9445  Bitcoin / Development & Technical Discussion / Re: Craig Steven Wright is a liar and a fraud - Tulip Trust addresses Tech review on: August 14, 2020, 05:53:08 AM
I don't understand how the owner of 1FbPLPR1XoufBQRPGd9JBLPbKLaGjbax5m could have Signed a transaction with the "Liar" message when they never sent out any bitcoin from that address to begin with?  Signing only occurs when the owner spends UTXO.

when you have the private key you can create a signature from any data that you want, whether that "data" is a serialized transaction that you want to send or a message string, the process is the same.
9446  Bitcoin / Development & Technical Discussion / Re: Would this bitcoin site be a good idea? on: August 14, 2020, 05:02:20 AM
i can not see any reason for using such a service when there is a better alternative that protects user privacy better. and that is to import the "address" in a wallet that can notify you when the transaction confirms which are available for all platforms including mobile, and then let that remain connected to the network. that way you simple get a pop up telling you it was confirmed instead of wanting to sign up with a third party service and they send you an email so that you see the email pop up telling you it is confirmed!
9447  Bitcoin / Bitcoin Discussion / Re: Interesting CoinDesk about "Dirty" Gold and "Dirty" Bitcoin on: August 14, 2020, 04:53:15 AM
it is not an issue, or lets say it is being exaggerated a lot. and the more "chain analysis" companies that sprout like mushrooms, the more exaggerated this situation is going to get.

bitcoin is a currency and is fungible and like any other currency it is used for a lot of things that includes illegal activities. at some point in the future (mass adoption) we may even see any transaction to be linked to some illegal activity in its history when you go back long enough. that shouldn't change anything though because you should always compare it with other currencies. take US dollar for example. majority of the bills in your wallet right now are already linked to some illegal activity which is usually drug trafficking. there is even traces of drugs such as cocaine on them. but nobody raises these issues because USD is not new and is not currently under magnifying glass.

as for mixers and coinjoins transactions that may cause some issues for the users, it is like that because their number is still low. so the exchange can easily restrict those handful of them and cause issues but if there were more (like if 80% of their deposits came from coinjoin txs) they would never be able to put any kind of limitations for such transactions.
9448  Economy / Trading Discussion / Re: Trader made 89% profit in minutes. Have anyone experienced it..? on: August 14, 2020, 04:36:10 AM
this is a terrible article to both write and share here because it will make a lot of people think that making profit through 3 way arbitrage is easy and very profitable whereas in reality it really isn't. in majority of cases the difference between prices is too low to make a decent profit and most importantly the market is super volatile which means a price you see right now may not be the same price you see in a couple of seconds and buying/selling and transferring funds between exchanges takes more time than that. in other words the same trader could have easily lost 90% of what he borrowed which brings us to another huge mistake that he made, he invested the money he didn't even own and could not afford to lose!
9449  Other / Meta / Re: Is your Bitcointalk password strong enough? on: August 14, 2020, 04:23:19 AM


the times in this picture depend a lot on how the passwords are stored in the database and what the hacker has access to. passwords aren't stored as plaintext, instead the hash of them is stored. and depending on the method used it could be trivially easy or extremely hard to brute force it.
for example both of the following are the hash of a very simple password "123"
Code:
a665a45920422f9d417e4867efdc4fb8a04a1f3fff1fa07e998e86f7f7a27ae3
74b2eb3b47120a4af6acb7d0a9af9e299a68233939fbd9d856a4d22598560601
while the first one is ridiculously easy to break because it is a single SHA256 hash of the password but the second one (although still easy due to shortness of the password) is a lot harder to break because it is using a strong KDF called scrypt with a strong salt.
the later is what any good website does to make it more expensive for an attacker to be able to brute force things even if they got access to their database somehow.
9450  Bitcoin / Electrum / Re: Where does verifying the signature help? on: August 13, 2020, 09:32:47 AM
If we take 10 million words from a dictionary then it's 10.000.000^12, oh ok.. that's strong.

we are not selecting words from a dictionary or even the 2048 word long list to create the seed phrase. in fact there is absolutely no word selection anywhere in seed generation process.
as i said it is an entropy generated by an RNG and then encoded using a special encoding that returns words instead of characters. (pad with checksum to be divisible by 11 and then split the whole thing into 11 bit chunks each of which representing a word in that 2048 word long list.)
9451  Bitcoin / Bitcoin Discussion / Re: Bitcoin lands #27 as top assets by marketcap (Stocks, ETF and Crypto) on: August 13, 2020, 06:51:17 AM
Though a really interesting statistic, it doesn't really make sense to compare bitcoin to companies and businesses. Probably a better statistic would be comparing bitcoin to the value of other currencies and hedging assets.

That would make the number one if you compare it with other Crypto currency and hedging assets at least we know that what is their place in the marketcap (Stocks, ETF and Crypto) there's a big possibility that they will land in the top ten in the near future everything is possible on how Bitcoin performs.

you can't really compare bitcoin with other cryptocurrencies because a big percentage of them are poor copies of bitcoin so there is no point even making that comparison, and the rest are also still very poor projects or purely pump and dump schemes which again comparing a currency with them makes no sense. in a handful of them that have real purpose like XMR that focuses on anonymity they have other issues such as scaling and are not popular enough to be considered for such comparisons.
9452  Bitcoin / Electrum / Re: Where does verifying the signature help? on: August 13, 2020, 06:37:39 AM
Can one of you give me a topic so I can understand how seed works and why it can't be brute forced?

it can't because seed or better said mnemonic is representation of an entropy so it is only as strong as your entropy generator which happens to be the same as when wallets used to generate a single key. so when you see 12 words you are actually seeing the human readable form of a 128-bit entropy which has the same strength as a bitcoin private key.
i don't know if there is any topic but you can look at https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
9453  Bitcoin / Bitcoin Discussion / Re: The Importance of Bitcoin during the Pandemic on: August 13, 2020, 05:29:01 AM
what you have in mind is digital money not bitcoin alone because being "digital" is only one aspect of bitcoin and it is not even the most important one. the biggest bitcoin characteristic that makes it valuable and is the main reason why it keeps on growing is its decentralization. otherwise if you just want to make money online, don't handle cash,... then can use something like PayPal too!
9454  Bitcoin / Wallet software / Re: Blockstream Green vs Electrum...which do you recommended for security? on: August 13, 2020, 05:17:23 AM
While I'm not saying that Blockstream is going to do something bad, but just to be safe.

why not? they may not be malicious themselves but it is still centralization and when we are dealing with centralization it means a single point of failure. imagine if government forced them to ask for KYC before signing any transactions. there is nothing they or their users could do except either giving up on the money they have in that wallet or comply.
not to mention that you will have 0 privacy using such wallets.
9455  Economy / Speculation / Re: Bitcoin trading soars in Argentina, Brazil as local currencies weaken on: August 13, 2020, 05:09:28 AM
DeFi might be all the rage in crypto.
no it is not. the DeFi hype is 10 times less than the last same scheme and is the follow up to the same original scheme of raising free money for doing nothing called ICO. and each new one fails worse than the last.

Quote
According to a recent report from analytics firm Arcane Research, Bitcoin has just broken price records in Argentina, Brazil, and Turkey—with growth (in fiat terms) of 169%, 20%, and 5%, respectively, over the last two months.
that is not growth, that is staying the same.
when fiat value tanks, it is obvious that price of everything goes up against fiat. and that is what happened here. if you convert bitcoin bought with Turkish fiat to USD you still get the same 11 thousand something dollars no matter how much more Lira you paid.
9456  Bitcoin / Electrum / Re: Where does verifying the signature help? on: August 13, 2020, 04:13:24 AM
Secondly, as I said, I'm not using it because it's unknown technology for me. I'm saving the private keys inside rars with very strong passwords  in safe places. I don't have to worry about anything.

so does this mean that "rar" technology and the encryption used by whatever software you are using is a "known technology" to you that you decided to trust that and can not trust the Electrum seed creation process and the BIP32 key derivation function?
9457  Bitcoin / Development & Technical Discussion / Re: Segwit Questions on: August 12, 2020, 06:37:13 AM
I am not sure where OP_number <push_some_data> fits in since it's not mentioned in the article I referenced at the start of my thread.
OP_number is any OP code that is followed by a number is is simply pushing an integer to the stack. anything except negative one is used in SegWit outputs that is OP_0, OP_1, OP_2,.... OP_16.

here are two examples:
Code:
0014ecd2c537b2222dc367110450e2526beef3f2d110
OP_0 <ecd2c537b2222dc367110450e2526beef3f2d110>
Code:
52207713dd0580bec75aa5e74f53b9f34657c4af0cd9bcedbae7cfd062afb3d16b15
OP_2 <7713dd0580bec75aa5e74f53b9f34657c4af0cd9bcedbae7cfd062afb3d16b15>
currently only version 0 (OP_0) is defined.

Quote
But I think this may be used to acquire the actual Witness data that is stored beyond the regular limits of a Non-Segwit Block?
if we see this pubkey script is being spent then it signals the mandatory existence of witness in that transaction and some other rules such as signature script being empty.

The Segwit Miners made scriptPubKey: Empty in the coinbase transaction.
no, an empty pubkey script means nothing special. a SegWit node verifies all transactions including those that have witnesses and constructs the block and its coinbase transaction as before with 2 additional steps:
- add a single witness reserved value in coinbase witness
- add the witness commitment as a new pubkey script using OP_Return
ax explained in BIP-141

Quote
So scriptPubKey: Empty indicates that this is a Segwit UTXO.
no, a pubkey script that is in the way i explained above (OP_0 to OP_16 followed by a single push of between 2 to 40 bytes) is indicating a SegWit UTXO.\

this is similar to P2SH softfork. a pubkey script that is OP_HASH160 <20 bytes> OP_EQUAL demands extra steps that only new nodes understand and old nodes (before P2SH upgrade) can not verify.

Quote
A non-Segwit node will ignore all UTXO where scriptPubKey: Empty but a Segwit node will know which Bitcoin Address this UTXO belongs to.
no. nodes don't ignore anything and they must know which UTXO they belong to. keep in mind UTXO is not fetched by the script but by using the hash and index inside tx_in outpoint. the old nodes don't see the witness.
9458  Economy / Speculation / Re: BTC has hit ATH against Turkish Lira on: August 12, 2020, 06:00:50 AM
I disagree that Turkish Lira doesn't matter and things like dollars, euros and sterling is the thing that matters only. Because, there are tons of people and tons of money coming in from those nations as well that matters for those people and they could make moves according to that.
anybody who participated in the market matters but it is all about the degree of their influence and that degree is based on the volume. when the volume coming from other currencies in other exchanges is compared to the volume coming from major exchanges in USD then you can see that they are negligible.
in some cases there is also the problem of OTC trading that it doesn't really affect the price in centralized exchanges.

Quote
We are talking about people who bought at 20k levels and still holding to make a profit finally be able to sell and take out profit, that is 3 year wait so they have all the right to sell if they want to get out and when they do that we are talking about hundreds of millions of dollars worth of money getting out of the market.
only a handful of people bought at $20k because it didn't last long enough for anybody to make a move. most of them bought between $8k to $12k which is why this range has been so active with a lot of older coins moving.
that is the nature of ATH which also is a bubble. regular people weren't really buying there, it was only day traders who also sold their coins right away and bought back and sold and bought back at least a thousand times ever since then.
9459  Other / Beginners & Help / Re: Don't be a crypto sheep on: August 12, 2020, 05:00:32 AM
Take your time to learn about a project by going through their whitepapers for specific roadmap and usecases,
the whitepaper only contains the idea and is not going to tell you whether the project is good or bad. the idea is most of the times excellent.
the roadmap and use cases are also promises and they also don't tell you whether the project is good or bad. the promise may not be kept as is the case with altcoins.

Quote
try asking the team members questions and see if they seem less serious or unsure.
to ask proper questions you have to first be familiar with cryptocurrency and cryptography and a lot more in an advanced level which means if you are then you should start looking at the code itself first and then ask questions.
otherwise no question asked by a beginner who is unfamiliar with all that can provide any valuable information. a well versed pump and dumper who has been around could throw around enough buzzwords to look like an expert and make the shitcoin look good whereas under the hood it is pure garbage. all top 20 altcoins are like this.

Quote
Go through their social media channels and see how they interact with followers.
all followers of social media of an altcoin are there to hype it and help its pump to be able to dump it and make some of their money back and hope for some profit. they won't provide that much valuable information either.

with well known projects like bitcoin and ethereum the risks are low as they are well established with good marketcap.
just because the market cap (aka the supply) of some altcoin is huge and it has gotten bigger pumps and has a better shilling community it doesn't mean that altcoin is good and "established". in case of ethereum it is the worst altcoin of all times. it is centralized, mutable, expensive, buggy, slow, hard to use as a smart contract platform in comparison and hasn't delivered any of the promises they initially made to pump it this high. as an investment it is also terrible because it has unlimited supply hence it is inflationary.
9460  Bitcoin / Bitcoin Discussion / Re: 3 Ways to Hack Bitcoin on: August 12, 2020, 04:46:17 AM
There are currently three ways to steal Bitcoin. First, hackers infect crypto asset exchange servers with special malware via e-mail, websites and popads and infiltrate devices. This happened with the Binance hack last year.
Second, take apart the Bitcoin hardware wallet and get the seed phrase. This has been practiced by Kraken against Trezor.
Third, hacking into the Bitcoin blockchain network itself through “51 Percent Attack”. This third method is considered expensive, but has the potential to get the largest loot than the other two methods. This third method, according to observers, will cost up to US $ 21 million.

these are not "hacking bitcoin". so your title i nonsense.

the first and second have nothing to do with bitcoin. it is about security of centralized services and physical devices created by a company. bitcoin itself is secure. it is like posting your private key on a forum and then saying they hacked my bitcoin since that is how most exchange hacks are, they have low security with lots of holes in it and when someone exploits them, they hack their exchange not bitcoin.

and the third one is not exactly affecting the coins one has. it can only create new blocks in place of old blocks, and it is not just expensive it is extremely expensive to perform and actually rob someone because it requires a gigantic transaction to be sent first to someone in a trade where you get something else in return (like selling millions of dollars worth of bitcoin and receiving the fiat) then 51% attacking (that costs millions of dollars) to reverse that transaction. but the problem is that someone who has accepted such a huge transaction will demand a lot more confirmation which means the 51% attack cost goes into trillions of dollars range.
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