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Bitcoin / Development & Technical Discussion / Difficulty Rainbow Table Calculation Injection Possibility?
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on: August 15, 2017, 08:01:00 PM
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Primer as understood:
Current Difficulty set to look for a determined sequence to achieve a answer within a timeframe.
Lets say 8 zeros is current difficulty:
Alice ->
000006b251e67e8358bef8483ab0d51c6619f3e7a1a9f0e75838d41ff368f728 -> Chuck saves input for less difficulty
000000000000000058bef8483ab0d51c6619f3e7a1a9f0e75838d41ff368f728 -> Chuck saves input for higher difficulty
000000000000000000000000ab0d51c6619f3e7a1a9f0e75838d41ff368f728 -> Chuck saves input for higher difficulty
000000000000000008bef8483ab0d51c6619f3e7a1a9f0e75838d41ff368f728 -> Chuck saves input for higher difficulty
0000000051e67e8358bef8483ab0d51c6619f3e7a1a9f0e75838d41ff368f728 -> Bob gets off and claims prize.
Difficulty goes up to 16 zeros:
Chuck gives it to -> Alice -> gets Bob off in one stroke and Bob claims prize.
Chuck should be saving all difficulties within program parameters to easily give it to Alice so Alice can get Bob off in one stroke.
The extra steps will slow calculations but the end result will be to get Bob off more quickly.
Difficulty goes down:
Chuck has saved up his previous energy to give to Alice rapidly and Alice can get Bob off multiple times in a row.
So, the question is: Can Alice, Bob, and Chuck do it?
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3
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Economy / Lending / Great Lending Opportunity,
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on: August 14, 2017, 04:19:24 AM
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Well lets get straight to business.
I want to borrow Bitcoin.
Full Disclosure: I have no intention of paying them back, so I'll skip the sad story and great business plan.
I just figured every other method was used to get people to loan coins, why not just an honest one.
If you're interested deposit coins here vvv
Thank You for your time.
Best Regards,
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4
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Other / Meta / Server Compromised?
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on: May 25, 2015, 04:03:32 PM
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Just received this:
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256
You are receiving this message because your email address is associated
with an account on bitcointalk.org. I regret to have to inform you that
some information about your account was obtained by an attacker who
successfully compromised the bitcointalk.org server. The following
information about your account was likely leaked:
- Email address
- Password hash
- Last-used IP address and registration IP address
- Secret question and a basic (not brute-force-resistant) hash of your
secret answer
- Various settings
You should immediately change your forum password and delete or change
your secret question. To do this, log into the forum, click "profile",
and then go to "account related settings".
If you used the same password on bitcointalk.org as on other sites, then
you should also immediately change your password on those other sites.
Also, if you had a secret question set, then you should assume that the
attacker now knows the answer to your secret question.
Your password was salted and hashed using sha256crypt with 7500 rounds.
This will slow down anyone trying to recover your password, but it will
not completely prevent it unless your password was extremely strong.
While nothing can ever be ruled out in these sorts of situations, I do
not believe that the attacker was able to collect any forum personal
messages.
I apologize for the inconvenience and for any trouble that this may cause.
-----BEGIN PGP SIGNATURE-----
iF4EAREIAAYFAlVhiGIACgkQxlVWk9q1keeUmgEAhGi8pTghxISo1feeXkUMhW3a
uKxLeOOkTQR5Zh7aGKoBAMEvYsGEBGt3hzInIh+k43XJjGYywSiPAal1KI7Arfs0
=bvuI
-----END PGP SIGNATURE-----
If true, a prompt to change password on log on should be instituted. P.S. Haven't checked signature.
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5
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Bitcoin / Bitcoin Discussion / Bitcoin Foundation Membership Pricing Question
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on: February 20, 2014, 08:05:06 PM
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I was never a fan of a Foundation as it would tend to emulate others on consolidating power but understand the 'want' of others to have it.
It seems to me that the formula for fixing the BTC to a USD value is a little Full Tilt right now.
Perhaps, someone can address the issue.
You will be getting members overpaying for their memberships with this Mt.Gox issue.
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6
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Economy / Services / Forum Treasures Public Addresses for Transparency
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on: March 20, 2013, 01:21:12 AM
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Public Accounting for Transparency Amt. Nick Public Address Last Block Chain Verification 1000 casascius 1000 John 1Kf1nT7jQnFC7N3tSdgg5qKGTV4MucfpBg 20MAR2013 750 Meni Rosenfeld 750 Rassah 1HQ8WaKVRYXLBtVdMcYr5SHQ3X9BsLyxa1 No Funds @ 20MAR2013750 eleuthria 500 DeathAndTaxes 500 OgNasty 250 CIYAM Open 1BuANiueZAiNashSCfGV5Gmj9P8ReG1D8N No Funds @ 20MAR2013250 Ryland R. Taylor-Almanza 250 paraipan 1PFkqgBBrSKikyyUGDerZMfzvCNPgKrR3o 20MAR2013 250 Garr255 |
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7
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Other / Off-topic / Book of Satoshi
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on: March 14, 2013, 04:26:57 PM
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BTC Revelations 00/Null::
I see a beast rising from the void realigning electrons through the great beyond to confirm the last transaction. And then, HE shall return.
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8
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Other / Beginners & Help / Welcome to the Hotel California !!!
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on: May 23, 2012, 01:08:21 AM
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And this is BitCoin
The double meanings are apropos and hilarious.
On a dark desert highway, cool wind in my hair
Warm smell of colitas, rising up through the air
Up ahead in the distance, I saw a shimmering light
My head grew heavy and my sight grew dim
I had to stop for the night
There she stood in the doorway;
I heard the mission bell
And I was thinking to myself,
"This could be Heaven or this could be Hell"
Then she lit up a candle and she showed me the way
There were voices down the corridor,
I thought I heard them say...
Welcome to the Hotel California
Such a lovely place (Such a lovely place)
Such a lovely face
Plenty of room at the Hotel California
Any time of year (Any time of year)
You can find it here
Her mind is Tiffany-twisted, she got the Mercedes bends
She got a lot of pretty, pretty boys she calls friends
How they dance in the courtyard, sweet summer sweat.
Some dance to remember, some dance to forget
So I called up the Captain,
"Please bring me my wine"
He said, "We haven't had that spirit here since nineteen sixty nine"
And still those voices are calling from far away,
Wake you up in the middle of the night
Just to hear them say...
Welcome to the Hotel California
Such a lovely place (Such a lovely place)
Such a lovely face
They livin' it up at the Hotel California
What a nice surprise (what a nice surprise)
Bring your alibis
Mirrors on the ceiling,
The pink champagne on ice
And she said "We are all just prisoners here, of our own device"
And in the master's chambers,
They gathered for the feast
They stab it with their steely knives,
But they just can't kill the beast
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax, " said the night man,
"We are programmed to receive.
You can check-out any time you like,
But you can never leave! "
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9
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Bitcoin / Development & Technical Discussion / Seemingly Inefficient Hashing Question???
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on: May 22, 2012, 06:08:22 PM
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You know at a lumber yard, there is a lot of waste (byproducts). Lumber yards figured out how to use this waste to increase the efficiency.
Question:
In order to get a hash at the current difficulty some Input(x) is hashed can compared to the difficulty requirement, Output(y) = equal required difficulty? If so then Block(N), if not dev/null?
Point being, if you saved the Input(x) and the resulting Output(y) for all hashes, couldn't there be a way to use the waste?
I thinks there might be a way. Isn't that data useful in any way?
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10
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Economy / Goods / [Sold] San Francisco Bridge for 1 BTC
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on: May 09, 2012, 07:45:51 PM
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[2:20 PM] <+midnightmagic> BTC_Bear: see txn 31948357448b24d54ad2c04fbd61b07a6b40d0dfac30b7e646a136547cd8d0ea , purchase complete. [2:20 PM] ← Gaglia left IRC. (Quit: Gaglia) [2:20 PM] <+BTC_Bear> Hey, the Bridge has been sold. [2:21 PM] <+BTC_Bear> All tolls should now goto midnightmagic  [2:21 PM] ← Turingi left IRC. (Read error: Connection reset by peer) [2:23 PM] → BlackBison joined the channel. [2:23 PM] <+BTC_Bear> ;;view 7967 [2:23 PM] <@gribble> #7967 Wed May 9 00:14:28 2012 T3mpn4me SELL 1.0 San Fransico Bridge @ 1 BTC (Please send to: 1L6C4K8b7uvZbGXkSCPBuy12RBecpzuSZL No delivery available, pick up item only. It will be a Bitcoin First. ) [2:23 PM] <+BTC_Bear> Sold [2:24 PM] <+BTC_Bear> ;;remove 7967 [2:24 PM] <@gribble> Order 7967 removed. The bridge has now been sold in yet another currency. Need I say: Buyer Beware |
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12
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Economy / Games and rounds / The ∑ Number Game - Week 5/9 to 5/16 BTC Pot: 10 BTC [Closed]
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on: May 09, 2012, 02:37:56 AM
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The ∑ Number Game - Week 5/9 to 5/16Please Read all. If any questions, feel free to ask. Slot Price: 0.5 BTC sent to: 1LG9NweYZkmfaKW6XyLcB3uLhqR73WMCmvThe Winning ∑ =: ( The Winning Sum Will be Put Here on Wednesday 16/May/2012 ) The Primer: This game, depending on the number of entries, combines straight up odds with strategy. The winner is chosen by an indisputable method. The ∑ of the PowerBall numbers on Wednesdays. e.g. If the PowerBall numbers are 13, 40, 05, 50, 03, 35, then the sum of the numbers would be equal to: 146. The person that choses that number would win. If no one chose that number, then the next closest but lower number would win. The 'Strategy' would come into play if all the possible slots are not sold out. e.g. If 100 to 145 has not been chosen, then purchasing slot 100 would cover all slots from 100 to 145 unless someone else chooses one of those slots. So, given those rules, the very first slot chosen should be 16. Because if no one else picks a slot above that number, that person would win by default. The Rules:Pick a Number from 16 to 350. Multiple slots can be purchased. Make a post with your chosen number(s) and the amount required to the above BTC address and the return BTC address in case you win and/or a refund is warranted. e.g. Choose numbers 69, 150, 222 and pay 0.5 BTC • 3 = 1.5 BTC Please include the txn number if possible in the post. If two posts are made with the same numbers and payments have been received, the first post will get the slot. The second poster will be able to pick a new slot of their choosing. If by chance No one has the winning number and their is no next closest number, the funds will be carried over to the next weeks game. e.g. Slots 50 to 100 are purchased but the sum of the numbers are 40. Since no one has chosen 40 or any slots below it, the funds will be carried over. A pot of 10 BTC is set aside for the winner. So the minimum amount to win is 10 BTC. All entries must be in before Tuesday at 23:59 UTC. Any Late Entries will be refunded. The Payouts:The Winner will receive 90% of the amount received. The last 10% will go into the BTC_Challenge fund. This fund is to give out BTC to winners of a BTC_Challenge. The purpose of this fund is to spread the use of BTC while allowing new comers a chance at receiving BTC and have a little fun. The Winner will be chosen within 1 hour after the Drawing on 16 May 2012 and payouts will commence.The below section will be updated at least once per day.
Slot Nick | Slot Nick | Slot Nick | Slot Nick | Slot Nick |
| | | | |
16 | 83 | 150 | 217 | 284 |
17 | 84 | 151 | 218 | 285 |
18 | 85 | 152 | 219 | 286 |
19 | 86 | 153 | 220 | 287 |
20 | 87 | 154 | 221 | 288 |
21 | 88 | 155 | 222 | 289 |
22 | 89 | 156 | 223 | 290 |
23 | 90 | 157 | 224 | 291 |
24 | 91 | 158 | 225 | 292 |
25 | 92 | 159 | 226 | 293 |
26 | 93 | 160 | 227 | 294 |
27 | 94 | 161 | 228 | 295 |
28 | 95 | 162 | 229 | 296 |
29 | 96 | 163 | 230 | 297 |
30 | 97 | 164 | 231 | 298 |
31 | 98 | 165 | 232 | 299 |
32 | 99 | 166 | 233 | 300 |
33 | 100 | 167 | 234 | 301 |
34 | 101 | 168 | 235 | 302 |
35 | 102 | 169 | 236 | 303 |
36 | 103 | 170 | 237 | 304 |
37 | 104 | 171 | 238 | 305 |
38 | 105 | 172 | 239 | 306 |
39 | 106 | 173 | 240 | 307 |
40 | 107 | 174 | 241 | 308 |
41 | 108 | 175 | 242 | 309 |
42 | 109 | 176 | 243 | 310 |
43 | 110 | 177 | 244 | 311 |
44 | 111 | 178 | 245 | 312 |
45 | 112 | 179 | 246 | 313 |
46 | 113 | 180 | 247 | 314 |
47 | 114 | 181 | 248 | 315 |
48 | 115 | 182 | 249 | 316 |
49 | 116 | 183 | 250 | 317 |
50 | 117 | 184 | 251 | 318 |
51 | 118 | 185-Freemoney | 252 | 319 |
52 | 119 | 186 | 253 | 320 |
53 | 120 | 187 | 254 | 321 |
54 | 121 | 188 | 255 | 322 |
55 | 122 | 189 | 256 | 323 |
56 | 123 | 190 | 257 | 324 |
57 | 124 | 191 | 258 | 325 |
58 | 125 | 192 | 259 | 326 |
59 | 126 | 193 | 260 | 327 |
60 | 127 | 194 | 261 | 328 |
61 | 128 | 195 | 262 | 329 |
62 | 129 | 196 | 263 | 330 |
63 | 130 | 197 | 264 | 331 |
64 | 131 | 198 | 265 | 332 |
65 | 132 | 199 | 266 | 333 |
66 | 133 | 200 | 267 | 334 |
67 | 134 | 201 | 268 | 335 |
68 | 135 | 202 | 269 | 336 |
69 | 136 | 203 | 270 | 337 |
70 | 137 | 204 | 271 | 338 |
71 | 138 | 205 | 272 | 339 |
72 | 139 | 206 | 273 | 340 |
73 | 140 | 207 | 274 | 341 |
74 | 141 | 208 | 275 | 342 |
75 | 142 | 209 | 276 | 343 |
76 | 143 | 210 | 277 | 344 |
77 | 144 | 211 | 278 | 345 |
78 | 145 | 212 | 279 | 346 |
79 | 146 | 213 | 280 | 347 |
80 | 147 | 214 | 281 | 348 |
81 | 148 | 215 | 282 | 349 |
82 | 149 | 216 | 283 | 350 |
If this game becomes popular, games will be held once a week. Possibly a more formal system would be incorporated. The funds received by operators will be used in methods that contribute to the Bitcoin Community and shall be stated in that week's game.
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13
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Economy / Games and rounds / The ∑ Number Game - Week 5/2 to 5/9 [CLOSED]
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on: May 03, 2012, 05:23:26 AM
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The ∑ Number Game - Week 5/2 to 5/9Please Read all. If any questions, feel free to ask. Slot Price: 0.5 BTC sent to: 1LG9NweYZkmfaKW6XyLcB3uLhqR73WMCmvThe Winning ∑ =: ( The Winning Sum Will be Put Here on Wednesday 09/May/2012 ) The Primer: This game, depending on the number of entries, combines straight up odds with strategy. The winner is chosen by an indisputable method. The ∑ of the PowerBall numbers on Wednesdays. e.g. If the PowerBall numbers are 13, 40, 05, 50, 03, 35, then the sum of the numbers would be equal to: 146. The person that choses that number would win. If no one chose that number, then the next closest but lower number would win. The 'Strategy' would come into play if all the possible slots are not sold out. e.g. If 100 to 145 has not been chosen, then purchasing slot 100 would cover all slots from 100 to 145 unless someone else chooses one of those slots. So, given those rules, the very first slot chosen should be 16. Because if no one else picks a slot above that number, that person would win by default. The Rules:Pick a Number from 16 to 350. Multiple slots can be purchased. Make a post with your chosen number(s) and the amount required to the above BTC address and the return BTC address in case you win and/or a refund is warranted. e.g. Choose numbers 69, 150, 222 and pay 0.5 BTC • 3 = 1.5 BTC Please include the txn number if possible in the post. If two posts are made with the same numbers and payments have been received, the first post will get the slot. The second poster will be able to pick a new slot of their choosing. If by chance No one has the winning number and their is no next closest number, the funds will be carried over to the next weeks game. e.g. Slots 50 to 100 are purchased but the sum of the numbers are 40. Since no one has chosen 40 or any slots below it, the funds will be carried over. If only 1 slot is chosen, the 0.5 BTC will be matched unless the number chosen is higher than the sum of the numbers. All entries must be in before Tuesday at 23:59 UTC. Any Late Entries will be refunded. The Payouts:The Winner will receive 90% of the amount received. The Forum will receive 9% of the entries to go towards the Forum Software Project. The last 1% will go into the BTC_Challenge fund. This fund is to give out BTC to winners of a BTC_Challenge. The purpose of this fund is to spread the use of BTC while allowing new comers a chance at receiving BTC and have a little fun. The Winner will be chosen within 1 hour after the Drawing on 9 May 2012 and payouts will commence.The below section will be updated at least once per day.
Slot Nick | Slot Nick | Slot Nick | Slot Nick | Slot Nick |
| | | | |
16 | 83 | 150 | 217 | 284 |
17 | 84 | 151 | 218 | 285 |
18 | 85 | 152 | 219 | 286 |
19 | 86 | 153 | 220 | 287 |
20 | 87 | 154 | 221 | 288 |
21 | 88 | 155 | 222 | 289 |
22 | 89 | 156 | 223 | 290 |
23 | 90 | 157 | 224 | 291 |
24 | 91 | 158 | 225 | 292 |
25 | 92 | 159 | 226 | 293 |
26 | 93 | 160 | 227 | 294 |
27 | 94 | 161 | 228 | 295 |
28 | 95 | 162 | 229 | 296 |
29 | 96 | 163 | 230 | 297 |
30 | 97 | 164 | 231 | 298 |
31 | 98 | 165 | 232 | 299 |
32 | 99 | 166 | 233 | 300 |
33 | 100 | 167 | 234 | 301 |
34 | 101 | 168 | 235 | 302 |
35 | 102 | 169 | 236 | 303 |
36 | 103 | 170 | 237 | 304 |
37 | 104 | 171 | 238 | 305 |
38 | 105 | 172 | 239 | 306 |
39 | 106 | 173 | 240 | 307 |
40 | 107 | 174 | 241 | 308 |
41 | 108 | 175 | 242 | 309 |
42 | 109 | 176 | 243 | 310 |
43 | 110 | 177 | 244 | 311 |
44 | 111 | 178 | 245 | 312 |
45 | 112 | 179 | 246 | 313 |
46 | 113 | 180 | 247 | 314 |
47 | 114 | 181 | 248 | 315 |
48 | 115 | 182 | 249 | 316 |
49 | 116 | 183 | 250 | 317 |
50 | 117 | 184 | 251 | 318 |
51 | 118 | 185 | 252 | 319 |
52 | 119 | 186 | 253 | 320 |
53 | 120 | 187 | 254 | 321 |
54 | 121 | 188 | 255 | 322 |
55 | 122 | 189 | 256 | 323 |
56 | 123 | 190 | 257 | 324 |
57 | 124 | 191 | 258 | 325 |
58 | 125 | 192 | 259 | 326 |
59 | 126 | 193 | 260 | 327 |
60 | 127 | 194 | 261 | 328 |
61 | 128 | 195 | 262 | 329 |
62 | 129 | 196 | 263 | 330 |
63 | 130 | 197 | 264 | 331 |
64 | 131 | 198 | 265 | 332 |
65 | 132 | 199 | 266 | 333 |
66 | 133 | 200 | 267 | 334 |
67 | 134 | 201 | 268 | 335 |
68 | 135 | 202 | 269 | 336 |
69 | 136 | 203 | 270 | 337 |
70 | 137 | 204 | 271 | 338 |
71 | 138 | 205 | 272 | 339 |
72 | 139 | 206 | 273 | 340 |
73 | 140 | 207 | 274 | 341 |
74 | 141 | 208 | 275 | 342 |
75 | 142 | 209 | 276 | 343 |
76 | 143 | 210 | 277 | 344 |
77 | 144 | 211 | 278 | 345 |
78 | 145 | 212 | 279 | 346 |
79 | 146 | 213 | 280 | 347 |
80 | 147 | 214 | 281 | 348 |
81 | 148 | 215 | 282 | 349 |
82 | 149 | 216 | 283 | 350 | If this game becomes popular, games will be held once a week. Possibly a more formal system would be incorporated. The funds received by operators will be used in methods that contribute to the Bitcoin Community and shall be stated in that week's game.
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15
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Other / Politics & Society / Community Oriented Solutions to Common Problems.
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on: March 25, 2012, 07:30:32 PM
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I've been following a thread on the forum where a member of the community has defaulted on debts. The solutions, while at first, seemed to be public airing of ones dirty laundry. Many have come to dislike that behavior and at times it is inappropriate. The decision on whether such behavior of public airing is and should be done on a case by case basis. If it is just to discredit or hurt, then it is reprehensible. But if it is to correct behavior and apply consequences to ones actions, then it can be acceptable.
When one hurts a community through intentional or even unintentional acts, the community responds to 'try' and make one feel bad. A form of 'Shunning' or 'Stigma' is placed on the individual. I would caution that the community should not forget to allow a path to redemption. Without such a path, it will hurt the overall community. The 'shunned' should with time and retribution to the community be allowed to continue within the community.
The choice of redemption, once allowed by the community, is squarely put on the individual. Does that individual, no matter what his circumstances or current problems are, choose the path of redemption? Basically, slowly but surely right all wrongs and make the community whole. With time, after the community is made whole, the community will accept that individual back into the group. And will probably be more 'Trusted' then before. Because he has shown that when problems arise, he will not run and hide. He will stand up, struggle, and slowly make people whole. He will withstand the insults (true or not) and squarely face life with a good character.
The community does itself justice by allowing this process to happen with time. The time required is mainly up to the wrong doer and others willingness to forgive. The Bitcoin community has/is showing many signs of how economies and societies have emerged throughout our history. What people have lost today, around the 'civilized' world is the sense of community. Rather they rely on the 'legal' system to right wrongs rather than the community righting the wrongs as a whole. Many people once convicted of something are thrown away as 'no good' or 'damaged' goods.
However, wrong doers should be forewarned. The path to redemption is never easy, always hurts, and has a lasting effect on your name. Stories will be told about you for a long time to come. I would hope you choose the long hard path and be accepted back. Or as many weak willed, non-community oriented people choose to do, they run and hide. The only problem with choosing that route is you are not part of a community, you are an individual ( a lonely one ) who's character means nothing to yourself. Yes, you might have 'successfully' stolen money and equipment and think that you won. The sad part is that you lost way more than you stole. Character has nothing to do with wealth, status, or position. It is a badge that people wear without intending to wear it and when it gets tarnished they promptly try to polish it no matter how long it takes.
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16
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Economy / Trading Discussion / P2P Exchange - A premise on the future of Currency Exchange.
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on: March 19, 2012, 03:47:52 PM
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Having been asked about a P2P Exchange System and after some thought on the matter, I am looking for some feed back before I write an Abstract for an entity.
Some might know that these systems are already in place between companies to bypass the exchanges (NYSE, NASDAQ, etc...) Although, I am not familiar with a system that allows individuals to participate. BitCoin has an opportunity to allow this and possibly can be expanded into traditional currency exchange. If the latter comes to fruition, a p2p exchange would become huge as anyone with a computing system could become an exchange.
What is the biggest reason exchanges are used?
I believe it comes down to "Trust." One must trust the exchange and that the numbers are correct. Traditionally this method of acceptance is done by reputation over time. The inherit flaw in this is that past reputation is no guarantee of future reputation. Madoff had a high degree of trust, until.
How can reputation and past performance be taken out of the equation for a future performance guarantee?
Lets put the trust in mathematical calculations. As this is election season in the U.S., many are familiar with Scientific Polls that report to within a certain percentage the reflection of individual sentiment to with in a ± percentage, usually less than 5% some as low as 1.5%.
Ironically for this system to work effectively there needs to be a starting point, i.e. exchanges need to already exist.
The premise here is to create a P2P System that every Bitcoin user has and uses for every trade. Scientific Polling algorithms could be used to prevent intentional skewing of the current price. As a bonus, this type of system would go a long way to prevent intentional market manipulation.
Past trades need not be saved all the way back to the beginning as this is not a analysis system. The last, say 30 days, and a moving average would suffice. At sometime in the future, it might even be beneficial to include it into the BitCoin App itself.
Initially users would rely on the price of the traditional exchanges for their rates of exchange. But as more and more people use the system, the advantages would become apparent to them and could transform the traditional currency exchange system in use. As the P2P exchange rate approaches the current traditional exchange price using the Scientific Polling Algorithms and maintains a price that is close to the current market rate, users will realize that one can conduct exchanges without paying an exchange, giving up personal information, keeping the exchange private between the two parties conducting business.
In effect, this system would turn every user with Bitcoin into an exchange and open up more opportunity to expand BitCoin usage. Also it could provide a secondary exchange system between currencies. e.g. USD-YEN-GPB-EUR-BTC etc...
Obviously the more people that use it the more accurate the price will be. This is where the current system of exchange is applied. The price will be closely matched to MTGOX or other exchange prices and as usage grows a divergence would occur.
The above is just a premise pointing out some benefits. I am looking for feedback and some negatives before I construct an Abstract of the system.
I am not familiar with all the algorithms that are used to reduce polls to an ± percentage of error or even if they could be applied to the system for the intended purpose. I have been pointed in a few directions but am looking for some feedback.
Thoughts and Ideas Please.
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17
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Bitcoin / Bitcoin Discussion / Concerns: The Centralization of a Decentralize Currency
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on: January 24, 2012, 07:26:49 PM
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While being a participant in BitCoin for some time now, some concerns have arisen that might be of concern. It seems like power has shifted to miners and to pool OPS. It would seem that if any agency wanted to disable BitCoin or even hurt it; they would go after these operations. It is understood that mining is a necessity and the formation of a pool is a logical next step. However, in order for the growth to the masses, that will be using a compiled client, what happens "if" those assets to the BitCoin community are actively attacked?
Obviously, since we are dealing with 'money', there is a self awareness to each individuals wants and needs. (Greed, to put it short) There is of course a natural process to be greedy. However, this process needs to be tempered with social and community needs. Yes, make a profit and save some 'coins' but don't let it lead to the 'take over' opportunities that come from being to aggressive. It is suggested that a little moderation would be a good thing.
Lets try to illustrate it:
(1)
For purposes of argument, lets say there are 10 miners, 2 pools, and 100 -qt clients in operation.
If someone wanted to stop BitCoin, would it be easier to stop 12 nodes or a 100 nodes?
(2)
If all miners and pools were shut down, what would the person, who only knows bitcoin from the -qt app, do to transfer BTC?
Yes, they could turn on mining with their computer but they wouldn't take the steps necessary to do it.
(3)
Power is being given to those who 'provide' to the system with mining blocks on deciding the direction of the development of BitCoin.
Votes are being taken by those that 'contribute' to the system.
Of course, it is understood that the 'average' person does not 'understand' the development. The problem here is not that they don't understand it but there is very little effort to explain it in layman's terms. P2SH is one example. Pay-to-Script-Hash has fallen down very predictable lines. And votes are pretty much cast with one question in mind: "Does it hurt the operators operations?"
(4)
If BitCoin is to be accepted by the masses, it must be trustworthy AND the 'average' person will need to be accepted into the fold. If that fails to happen, congratulations are in order. The developers have developed a system that is trustworthy, protects the 'high level' operators, and that "No One Uses."
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Intending no disrespect to the developers, there is however a tendency to get locked into ones own interpretation of how things should be without considering the bigger picture. People love to disagree and prove themselves right. Judgements are passed and discussions viewed from often odd perspectives.
Often the 'little people' are overlooked because of their assumed ignorance. This is a failing that often comes back to byte people in the proverbial ass. In short, lets develop the code but lets not leave out the potential 'End Users' from helping to develop it.
Possibly a simple solution would be to utilize a voting 'address' that clients could vote to with a small portion of BTC. Put their money where their mouth is.
And please, put the ability to mine back into the client (-qt) but restrict its hashing capabilities. Just in Case.
/End Rant File
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Economy / Marketplace / Bounty: 2 BTC
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on: January 14, 2012, 12:48:27 AM
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I will pay a 2 BTC Bounty for a Creative Commons Illustration of Gribble. To be chosen by the -otc as to whom is the winner.
You may also post your votes for the winner here.
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