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on: June 05, 2018, 07:03:09 AM

Number of possible addresses is 2^160. Number of public keys is 2^256. Cca 2^96 public keys can share same address but cannot steal from each other. So effectively there are "2^256" addresses. How is that possible? Simple, address is hashed public key.

on: May 29, 2018, 10:53:13 AM

Banks and btc are both very secure. I would say btc is better because it has smaller attack surface compared to banks layers and layers of software. Both are very secure and bank can give you a refund. Maybe better comparison is btc vs your CA for digital identity. In case of CA, public key is exposed for eveyone to see, meanwhile btc hashes your pubkey and is only exposed during spending tx and should be never used again:)

on: May 05, 2018, 07:06:11 AM

how mining exactly works? 1. Miner collects txs and makes a block (not final). Each tx is from chainstate. Yes? 2. He checks all scripts are valid. (Signatures or so called simple scripts) 3. Adds block headers such as merkle root etc.., coinbase 4. Starts calculating different hashes with different nonces until he reaches target difficulty. 5. Once hash is found, he submits block to network. 6. Peers do step 2. again. If block is valid, peers add it to blockchain 7. Repeat Is this correct? Am i missing something? How does switching tx in block affects miners performance? Is tx with greater fee iniciative to add it in block? Doesnt calculating merkle root take some time?

on: May 01, 2018, 10:17:52 AM

Quote from: J Sykes on April 28, 2018, 10:43:35 PM 'If you give a man a fish, he will eat for a day. Teach him how to fish and he eats for a lifetime" This quote for me sums ups the best strategy for succeeding in cryptocurrency. Too many people trawl through forums, articles and youtube videos looking for what people say will be the next big coin. All you are doing here is accepting free metaphorical fish of people. A better strategy would be to learn about blockchain, distributed ledgers, distributed consensus and immutability. Then look into geopolitical events, then look into other economic markets outside of cryptocurrency for macro trends and then you will be able to make decisions on solid projects for yourself. This whole movement is about becoming independent so relying on other peoples opinions to form your own is a very dangerous game First you need to dedicate a lot of time to understand how things work, which is hard even for a tech person. Also not eveyone has time for that and nobody is paying you for learning. I think it is on those people (with reputation) who understand technology, to share insights and benefits of using it. Like using internet. Most people dont know how it works but benefits are clear and useful ( same can be said for car, cell phone, pills, monetary systems...)

on: May 01, 2018, 09:58:42 AM

ive skimmed throught those exchanges and they seem fishy. Other thing i noticed is they somehow enforce fee on otc trading. My guess is they create tx with two outputs. One for trade and one for fee. Inputs are given when trade offer is made. There is also htlc script in it. Then this tx is signed and broadcasted to other party. Tech savy user could abuse that and remove second output before signing tx What do you think about implementing lightning network compatible eth contract. Would anyone use it? Is anyone prepared to pay for that?

on: April 30, 2018, 01:39:17 PM

Not sure where to post this... I was wondering if buildning otc exchane btc-eth-ltc-zec-xlm is worth an ico. I know how to build it, i just dont have monetary iniciative. Is this worth anything? I think its also possible to implement eth on lightning network. Is this worth a thing?

on: April 20, 2018, 04:38:36 PM

Quote from: Xester on April 19, 2018, 02:01:02 PM Well eventually money and bitcoin is almost the same and the difference is the state or realm that they are in. Money is on physical realm and bitcoin is on the digital realm but both of them are currency. Also both of them is taxable. If you buy a car using money and a part of the cars price is being sent to the treasury in form of taxes. Bitcoin also is like that if you buy a car using bitcoin then a part of what you pay is also taxable and will go into the treasury. If you dont believe that bitcoin is taxable you may read what is happening on the United States right now. Just to add. Recieving payment in btc makes sense for small busniesses, who can afford btcs price fluctuation. And even this is only for those who offer services, not goods. And it gets worse, the bigger the company the less risk it can afford (price fluctuation). Ofc recieving btc as payment will be possible for all businesses only when btc price will stabilize at 500000$/btc

on: April 18, 2018, 02:41:05 PM

Shops never see cryptocurrencies. They (crypto) are instantly converted to fiat so shops can make daily, monthly, yearly reports in local currency. That brings me to this... I see a growning need for usdt alternative in eur.

on: April 18, 2018, 01:37:53 PM

I think noone mentioned this benefit of having bitcoin. It is possible to migrate to other county with your wealth in case of war or something. You only need to remember 24 words and you are good to go

on: April 02, 2018, 09:45:07 AM

maybe offtopic but still. I just want you to know i will run ln node with near zero fees and will connect it to nodes who do the same. It costs me nothing and i will contribute/give back to bitcoin and its community. Least i can do. Bitcoin forever <3

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