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1  Bitcoin / Bitcoin Discussion / Fragmentation attack on: December 27, 2013, 02:23:34 AM
Just few questions to clarify:

1) every active client (miner) need to store address even if its balance is 1 satoshi?
2) how much disk space do one address require? 32bytes or more?
3) one bitcoin can be splitted to form transactions to 100,000,000 addresses which will occupy 3GB of space? (yes I know that confirmation will be slow)
2  Bitcoin / Bitcoin Discussion / casascius and other physical bitcoins is a fraudulent idea on: November 29, 2013, 11:46:41 AM
Following a good will Casascius apparently opened the pandora box. Now people are really believe that the sealing proves that the physical bitcoin is secure. But of course it is not. A producer of a physical note or a coin can copy and preserve the private key. This situation is so strange. I bet that if this hysteria wouldn't decline we will face a wave of fraud associated with a physical pseudosecured coins in a future.

It would be better if Casascius spend the same amount of effort populating the idea that only self printed paper wallets are secure. Every such cold storage obtained from a second party as a present, gift or a payment should be immediately transferred to the safer wallet because private key could be copied and preserved by a grantor. Tamper-evident seal in this case doesn't provide the needed level of security because the private key could be copied before the sealing was applied on a coin.

Shame on you Casascius   Sad
3  Other / Beginners & Help / casascius and other physical bitcoins on: November 28, 2013, 10:35:47 PM
Following a good will Casascius apparently opened the pandora box. Now people are really believe that the sealing proves that the physical bitcoin is serure. But of course it is not. A producer of a physical note or a coin can copy and preserve the private key. This situation is so strange. I bet that if this hysteria wouldn't decline we will face a wave of fraud associated with a physical pseudosecured coins in a future.

It would be better if Casascius spend the same amount of effort populating the idea that only self printed paper wallets are secure. Every such cold storage obtained from a second party as a present, gift or a payment should be immediately transferred to the safer wallet because private key could be copied and preserved by a grantor. Tamper-evident seal in this case doesn't provide the needed level of security because the private key could be copied before the sealing was applied on a coin.

Shame on you Casascius  Sad
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