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Kind of a junior crypto question here, but does a the strength of a pub/private ecdsa key pair weaken if the privkey is used to sign a significant number of msgs.
I know that reusing the K value is instant death, but assuming the msgs were generated correctly should one be concerned never using a new receiving address?
I ask bc if one were to create a bitcoin service that wanted to provide an instant proof to a user of funds under administrator control, the user could send an arbitrary hash value to the server, which could then be signed by all the privkeys corresponding to all publicly controlled pubkeys.
would the creator of such a service have to worry about a user DDOSing the service in order to scrape a large number of sigs generated by all his privkeys for all the loot he controls, as a way to make it easier for the attacker to derive the privkeys?
That is to say, imagine if an exchange operator did this. Should he be worried about using the privkeys securing user funds to send perhaps millions or billions of sigs to an adversary trying to derive the privkeys?
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The typical way to spend btc is to lock them to a receiving address which is a 160-bit representation of a 256 bit ECDSA script. In theory, couldn't an attacker present a different pubkey and a signed message to redeem coins on an address which happens to hash to the same address as the legit owner? Wouldn't the odds of this collision be 2^160 (yes yes thats A LOT of keys to generate) but its not 2^256 now is it?
Additionally, lets assume there are 65k addresses worth stealing from, i'll steal from any of these (2^16). Doesn't that now reduce the number of hashes i'd have to go through to 2^144?
Its still a poopload of key pairs to generate, my guess is only a few hundred or few thousand could be iterated/sec on a standard pc.
But this raises the question: why didn't satoshi use sept160k1 which would have pubkeys of only 40+ digit hex (corresponding to the strength of ripemd160), instead of 64+ digit hex for sepc256?
Again, in theory we can reduces the 2^256 sets of key pairs to just 2^160, cuz as I get it, to spend a balance you only have to show a pubkey which ripemd160 hashes to the receiving address.
Did i miss something or is the ECDSA really just 160 (or 144) bit strong?
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Many people say that Satoshi created Bitcoin. That implies that it wasn't always there already, waiting to be discovered. Its almost an evolution vs intelligent design style philosophical question.
Is Bitcoin so perfect, and so intricate and wonderful. How all the inherent forces of the different crypto algos had to come together in this unique way to be something, which when looked at as a whole is so much greater than its parts.
Could a Human invent or create this?
Or was it merely discovered by Satoshi? A brilliant discovery, but something this great was already waiting there. Too perfect and precise in all its functioning components working together for some one to think up piece by piece.
That is, did Satoshi manage to build this piece by piece methodically like a true creator, or did the whole product just occur to him as if it were put there by God/the creation of the universe, waiting for some mortal to stumble upon it?
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You know, Satoshi's mind about how these things should come together would provide great incites for the project here.
Challenges:
1) How to prune the blockchain correctly
2) What to do about centralized trading houses (ideas for a decentralize exchange)
3) Suggestions for improving Bitcoin PR
Who is this fucking guy to put so much time and effort into building something so well thought out and engineered to such detail, and then to fucking disappear and not even put up an occasional post with suggestions to improve the project? I'm starting to think that Satoshi may have been mentally unstable. Working anonymously ---> paranoid. Not checking in ---> greatly disturbed that things went in a direction he didn't anticipate and so he goes 'fuck it!'.
I think this fucking nut might have just deleted all those early coins he mined in a fit of rage, seriously, starting to think this. Most of those early blocks never moved. Many of those early guys just didn't think anything would come of it and deleted the client & wallet. But a lot of those early blocks GOT to be his. Maybe he mined about 1 million early coins (thoughts about how much of a stake he had). You mean to tell me when the fucking thing got to $250 and priced his 1 mil coin stash at $250 mil, he didn't unload a few million bucks worth?
Seriously, how wealth could this guy have been for not wanting to sell a little and greatly up his lifestyle by selling say 5%. It does not compute. I think the guy just trashed his wallet file in anger/paranoia that there would be some kind of backlash when they had wikileaks accept BTC. He put up that paranoid post about how it would attract all the wrong attention and then bailed.
Its either this or he suddenly died without leaving instructions to loved ones for taking procession of the coins.
Well that's my official Satoshi is fucked in the head theory! Hope I didn't offend the Crypto-Jesus disciples too much there.
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I missed out on so many good chances to trade the volatility over the last few days. Gox sat on a nice sell order of mine after it traded thru that level and then they crashed. When they reopened much lower after the trading halt, they again failed to execute my buys all way up, then they crashed again! They then took 40+ confirms to credit my account with some fresh coins to allow me to fully take advantage of a another good sell level when they came back. By the time they credited i was back to being a buyer.
Long story short, i got goxxed, deep and hard over and over and over again. All my funds have been re-invested in coins and tx'd to my client.
I will never do business with gox again. I don't know about these other exchanges either, right now i am content to just hold my balance of btc, and not give a shit about any potential deflation of the "bubble" if it happens. I'll set aside money over time and figure out a way to buy from private parties or at meetups.
I take this as my first step toward Bitcoin exchange sobriety. Until better controls and confidence can be had in ANY of these exchanges, we all need to stop doing business with them. I see that so clearly now, cause the liquor helps me think, Randy.
I encourage u to reply to this thread by quoting and endorsing my pledge:
Until there is better proof of trust & security,
I will forever be, exchange sober!
I will never forget the Goxxing I took!
Fool me once, shame on Gox
Fool me again..
You can't get fooled again!
I forever pledge to never be Goxxed again!
Sincerely, one day at a time, Doobadoo
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And if you do buy the DDoS story line, who is behind it? What do they have to gain?
Do you know how hard is it to execute against a "80 Gbps" dataline with DDoS protections? Assuming Gox isn't BSing about that capacity either.
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Gox down! http://www.downforeveryoneorjustme.com/www.mtgox.comWell that was fun...never credited my deposit after 20 confirms. Couldn't work my buy order either at the open... Goxx'd AGAIN! HAHAHAHA! Oh this is rich! You almost had me there GOX! U so CRAZY! I think i wanna have yo baby! |
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Let the needy get their server time folks... Time for some community action!
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I'm a whole seller of the DDos thing. I was watching it trade, it happened just as before. The prices started to sell off for about 20 minutes and then started to lag, and then slower and slower till they were down.
These are customers running to trade btc, either to join the selling or buy the dip. But when the price moves a bunch, in these 2 cases down, then the lag, then the crash. DDos wouldn't progressively set in like that. Ddos hits a site quickly.
I think they opened way too many accounts and can't handle the volume. Their tx engine keeps crashing/freezing. Just go offline guys. It is healthier that way, go offline till you fix your code and upgrade your capacity.
Enough bullshit, there is no evil demon ddosing you. Who would it profit to do this? This guy wants to buy back lower? gimme break, he's breaking the back of btc trading.
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Thats right, they can't handle the load. Stop taking in new customers till you folks upgrade. Thats the responsible thing to do ya know.
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Hi all, you may know me as the guy who sold out completely at $236 earlier today: https://bitcointalk.org/index.php?topic=171638.0My logic was that there were far too many noobs who don't really understand bitcoin, but who are buying it because its simply going up. I felt that the price had gotten rather extended and that when it sold off, they would all run for the exits and the bubble would pop. Well something changed my mind. Just now, MT. Gox has reported that in the first few days of april they've seen 75k new accounts created. This compares to 60k for the entire month of march, and a run rate of about 10K new accounts in the Dec 2012 and previous time frame. Further they say that they are getting 20k new accounts a day now: https://mtgox.com/press_release_20130411.html However, new gox accounts are a leading indicator of future buying as it takes time for the money to clear, and i bet they are way behind on processing deposits, particularly on the larger accounts that need verification. Some of these prospective buyers may be deterred by the nearly 50% drop we saw intra-day today. Some of the bigger holders will likely feel like we may be repeating the long and ugly decline from the summer of '11. But i think these noobs will just bail it out. Very long @ $168. Lets see if my logic plays out! |
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glad i printed my last coins at $236....
And to all those who said i was a fool for selling out....> see you sub $100!
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Seriously! So glad i sold the rest of my position at $236. Crash is imminent. You can't have swings like this in real currency. These bubbles do not serve the growth of bitcoin.
Why can't we have a stable growing currency? Why do all these greedy yahoos have to come in and dump money in and out like crazy?
See back in double digits folks!
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People, congrats to all who are still holding... im letting my last block go today. I think this is SO unhealthy for btc. When this thing roles over its gonna drop dramatically. It will burn so many newbies. They will not want to come back.
A gradual rise, with sensible ups and downs would build the base of users much better. But THIS?!?! This is just BS, bad news for adoption. This will ultimately set us back.
Any one who thinks its like a singularity or something are just caught up in the euphoria. Nothing hits adoption like this. Maybe i'll be proven wrong, but i doubt it. These new buys understand very little about btc other than its going up fast and they can make quick money. When it starts to drop they will understand no more about btc as a currency, only that it is dropping and looks like a bubble bursting.
Thoughts? Did i do right selling out today? Or will i get run over as this sucker goes straight to $1k.
--
Doob
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