Latest posts of: MrSolo

Hello,

This is only a discussion and an idea i had about a stablecoin that could be better than USDT, USDC, BUSD and the concepts are:

- The coin is pegged to Gold & Silver and all assets that go against inflation.
- The coin would work similarly to how USD worked before Nixon ended USD Exchangability to Gold.
- The price of the stablecoin is not pegged to the USD but it goes up against the inflation either by pegging it to the purchase power of 1971 so you will be buying it at 6.66$ per coin as 1$ in 1971 is 6.66$ now,
OR we start from now so it starts at 1$ and it's value will go up with time and every year as per inflation rate.

- One of the reasons for this is that we know that the Dollar is inflating every year by 5% and this year could be double digits inflation, so pegging something to the current rate will work to save Stablecoin holders from inflation and on the other hand works as a way to exchange your BTC for instead of stablecoins that are backed by an asset that drops in value by double digits a year.

This is simply my idea and i would love to hear your opinions, i'm in no way making this but asking it how it would work if we wanted to make something like that?

Hello,
( Full disclosure: i bought like 200$ worth of this coin )
Few weeks ago i have stumbled upon a coin named BitcoinPOS which supposedly is similar to bitcoin but instead of Proof of work, it uses proof of stake where you can stake your bitcoins and earn like 10%, however it has a very small marketcap of $627,170 and a volume of less than 100$ a day, it's [ANN] seems to be from 2020 so it's very new and it's explorer doesn't seem to show me information about holding wallets, also it has very low supply.
So my question is anyone has information is this coin is a scam or proven to be, who's behind this, does it have the slightest chance to be the champ or is it all a facade.

Thanks

Hello,

I got involved with Bitcoin back in 2015 after reading about the revolutionary technology blockchain and it's use cases, and after couple of years later i started reading about the scalability issues of Bitcoin and how segwit2x would change that, so i started researching about BCH, Dash, LTC, ETH as each of those alts brought new ideas that solved certain issues like block size and transaction speed or anti-asic coins, it was a gold rush for better technologies and new ideas, then DOGE came and it changed everything imo, everyone who spent their time brain storming better ideas for new coins saw the success of this new coin that the only thing they offered was "funny" memes and untraditional methods to promote their coin and nothing about technology or improvements, this opened the gates of hell for more cringe worthy low effort Idiocracy type of coins that offered no value which imo made cryptocurrencies stagnant and changed the perspective that Crypto is a technological revolutionion to ponzi scheme like investement asset where we reward cringe instead of rewarding new technologies or ideas. so what do you think about this topic and if i am right or wrong and is there a way out of this.

I didn't mean to make this topic to attack any alts but as an open honest conversation.

Quote from: pooya87 on March 16, 2022, 03:56:39 AM

It's funny how you guys keep mentioning China PoW ban and only see the ban not the afterwards. This supposed "impact on the grids" never existed as it is evident from China and how their energy crisis didn't even change. In fact the stats suggest after China banned bitcoin mining the electricity usage kept on rising instead of having even a small drop!

Basically when it comes to this news you only ate the FUD and didn't even analyze what happened. For example the fact that the hashrate drop was very small and didn't change anything apart from affecting newbies who believed the FUD to panic sell and cause a crash that led to a bigger drop in hashrate than the ban itself!

The meme @n0nce posted is very apt.

Saying that crypto mining has no noticable affect on the grid is like saying that cars cause no pollution, it's just false, from the hashrate you can estimate that Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production and that's just for BTC, there is ETH which also consumes so much electricity, LTC, BCH...etc

Quote from: LegendaryK on March 15, 2022, 07:39:56 AM

Your Post is reasonable, but you won't get a logical reply from illogical people that support PoW flawed design.

Just do your crypto trading in preparation for what you see as the conclusion of the folly know as PoW mining.
At some point in the future, a worldwide PoW ban will be in effect, because if they don't, the miners greed will destroy their power grids.
Destruction of a power grid is not fud, it is a massive death toll for the citizens of any country dumb enough to not ban it.

Only BTC & LTC are refusing to evolve , so take that into consideration during your trading.

Ethereum and the rest of the coins will be unaffected by POW Bans, because they are willing to Evolve to a better system.
Even Doge is moving to PoS.
https://www.binance.com/en/news/top/6912062

Quote

It is officially confirmed that Dogecoin, the meme-based cryptocoin, will now migrate from POW to the POS model.
It is because the POS offers an unmatched advantage over the POW model
It was confirmed by Vitalik Buterin, who said he is helping the Dogecoin Foundation migrate the doge consensus method to PoS.
Buterin also pointed out that most major crypto assets are slowly migrating to the POS model.
Ethereum co-founder Vitalik Buterin is the main driving force behind ETH 2.0 update.
The major update aims to migrate the second-largest crypto asset in the world from the current proof-of-work (PoW) model to proof of participation (PoS).
Other significant crypto assets are also contemplating making the switch.
Last year the Dogecoin Foundation, the organization responsible for developing DOGE, had already reported that it was counting on Buterin’s help to make the migration. Buterin, in an interview with UpOnly, confirmed the news that he was involved in this project, saying that virtually all cryptocurrencies will follow the same steps.
Buterin added that all major cryptocurrencies are switching to Proof-of-Stake and Dogecoin’s plans are more advanced, and Zcash’s plans are more advanced.

I think in the future we will look back at this moment either in sorrow or as a moment of change and admitting that pow is like coal and we either change with the times or be left behind, bitcoin holders have a moral responsibility to be aware of the impact mining does to grids.

I might not be the best PoS enthusiast but i'm definitely not a fan of Pow, today a new bill was introduced into the EU parliament named (MiCA) legislation, the bill lost votes but it had 28 votes, this bill says that All tokens to stay Legal must move away from the high energy consumption it currently has, I suggest all the PoW people to stop dragging BTC to the mud because of their pride and ruin the whole cryptocurrency movement. this is a dark point in the history for crypto people. Energy isn't free and Bitcoin uses lots of it. and we are playing Russian roulette because bills like MiCA will keep coming and oneday one will pass and it would be too late.

Quote from: o_e_l_e_o on November 20, 2021, 08:46:02 PM

Quote from: Epictetus on November 20, 2021, 07:32:29 PM

Plus miners are ready to run their machines for any job be it mining or hacking.

ASICs are built to do a single job. They cannot be repurposed to try to hack bitcoin addresses.

Couldn't that mean that if they make ASIC machines that are built to hack wallets, and what if it becomes a trend to hack bitcoin wallets and millions of people start doing it, and companies start creating very optimized hardware that their only purpose is to brute-force wallets randomly

Quote from: o_e_l_e_o on November 20, 2021, 08:10:24 AM

Quote from: manuelgranjacarbo on November 18, 2021, 07:02:18 PM

Thats the reason i sold all my bitcoins. I beleive in cypto tecnology, but sooner or later a Bitcoin Private Key will be stolen by bruteforce and the market will lost its value.

That's the reason I sold all my fiat. I believe in monetary technology, but sooner or later a credit card number will be replicated by bruteforce and the market will lose its value. Incidentally, a 16 digit credit card number has only 10¹⁶ combinations, whereas a bitcoin private key has over 10⁷⁷ combinations. So for every possible credit card number in existence, there are 10 trillion trillion trillion trillion trillion possible private keys.

If you are worried about the security of your bitcoin private key, then you must be utterly terrified about the security of your fiat!

Quote from: larry_vw_1955 on November 20, 2021, 04:32:56 AM

And what algorithm is that exactly? They always talk like one exists but I havent seen it yet.

I'm also not an expert on the subject, however the one most commonly talked about at the moment is Lamport signatures, but probably only because they are the most developed. They have a couple of disadvantages, however, most notably their size, which effectively precludes them being used in their current form. There is plenty of researching going on in this area though, so I suspect the algorithm we eventually fork to is one which is still very early on in its development.

The biggest difference between Credit cards and Bitcoin is that you can bruteforce Bitcoin offline, which you can't do with credit cards that need to go through cc processing companies that will block you immidiatly

Quote from: Kemarit on October 27, 2021, 03:13:38 AM

Quote from: tvplus006 on October 26, 2021, 03:45:17 PM

Quote from: MrSolo on October 26, 2021, 11:30:18 AM

.... i would like to hear what you guys think...

I can assume that these wallets that the OP indicated belong to the Binsnce exchange and, accordingly, they contain BNB coins of exchange users. But in any case, a lot of coins are in the possession of the exchange team, which were released in 2017 and partially unblocked this summer.

This is what I initially though, since it's obvious that BNB has been trading in Binance so they majority of it will be on their wallet, but doesn't it mean that they own it personally? That's two different things in my opinion.

And I'm not sure where the attack or hate from the OP is coming from. I mean there are projects that hold the majority of the stakes but still people invest on them even though it's centralized.

Firstly i don't hate BNB, i was searching around about BNB and how it works and looking for potential long term success and after seeing the holding wallets i was very surprised, i understand that much of it is probably from the staking, exchange..etc, but at the end of the day Binance own wallets have 83% of the bnb, my post was to ask experienced people in the field whether or not if that can effect the price and the confidence on the coin as i'm not sure by owning that much will it effect the network.

I'm trying to imaging what if ETH or BTC had 83% of it's coins owned by one entity would they still be as successful, my prediction is probably not, but maybe because of the future adoption of crypto and the increased volume this wouldn't effect BNB's price, idk

The common theme in most of the replies is that the coin is centralized and nobody actually knows how much does Binance hold but it's a large percentage, and i should trust binance to do the right thing and that they won't dump too hard.
My conclusion is that BNB is too centerlized and that means that any whale would think twice before investing in BNB, which negativly effects the price long term. that suggests to me that the success of BNB is directly linked to how successful Binance is and will be in the future and that goes against everything that crypto stands for.

Quote from: bitkanu on October 26, 2021, 11:45:50 AM

How can you sure if binance was holding more than 83% from the total supply? 50% of BNB were going to the ico participants a few years ago.

https://etherscan.io/token/tokenholderchart/0xB8c77482e45F1F44dE1745F52C74426C631bDD52
https://etherscan.io/token/0xB8c77482e45F1F44dE1745F52C74426C631bDD52#balances

Quote from: bitkanu on October 26, 2021, 11:45:50 AM

it caused by BNB has so many utility use case instead of another coin. Didn't you aware about this? Do i need to show you the proof?

My point was about the holdings, look at doge and how everyone is suspecious about it because it's held by the devs.

Quote from: bitkanu on October 26, 2021, 11:45:50 AM

I think that you must read about the binance tokenomic but it's not relevant again as binance has BEP2 chain and BEP20 chain. that means binance has two version at this time as native BNB and Binance smartchain. I guess those binance tokens were still on ethereum already swapped to the binance native chain or binance smartchain. that's why the total supply owned by binance on ethereum chain was increasing a lot.

i don't care how it happened or if it's from their exchange, holding 83% of a coin is very bad and it should never happen, i don't care about the justification if the result is the devs of the coin holding 83% of the coin.

and please don't give me the locked bs, if it's not burned then it's still in circulation.

Hello,

My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?

should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think

BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478

While scrolling on a random telegram channel, i found a post saying: "my country has banned crypto trading and i want to out my investment, someone help, my private key is : c94f4a0988ffc2b473de335a52a35d812d8b8db9b4fdef16fa1d0144255203a7 "

so i did what any reasonable man would do, i imported his wallet to see what's inside, there i found 32,000 MNE which from coinmarketcap it's valued at 0.0731$ in the time of this posting, that means a value of 2339.2$,

however the scam is that you have to pay a gas fee of 7-20$ depending on the day but as soon as you transfer the funds to pay for the fees they transfer them into a new wallet, which is very smart,

and my question is do you think this scam is really worth it? i mean can someone beat the system and be able to actually scam the scammers. would love to hear what you guys think of this new/old scam.

Hey guys,

What do you guys think of the US Government Owning so much Crypto that it "got for free", those wallets are controlled by DOJ.

BTC: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 ~= $3,755,714,388.06
BCH: qqrkjml7h3ymnc7ydd9m5r9s9hnqectmluwpxezd9a ~= $37,317,659.98
BSV: 1F884r9J2WKbu8wekebqqRcu1Bw1jiRXba ~= $12,932,669.07

And when they auction off these sums do you think the price of BTC will drop a lot or not?
Plus what do you think about how the government can just come in and take your Bitcoins for any reason.

Would love to hear your opinion on this matter.

Quote from: shinohai on March 02, 2021, 02:00:19 PM

Quote from: BlackHatCoiner on March 02, 2021, 07:32:28 AM

Quote from: shinohai on March 01, 2021, 11:03:52 PM

Since 2^256 is likely a number larger than the number an atoms in the known universe, better get to crackin' with that abacus or wait for the advent of quantum computers if/when machines capable of doing this come to exist in our lifetimes.

2²⁵⁶ is not the number of the addresses. Even if you brute force private keys, that are around 2²⁵⁶, you want to find a collision, not necessarily someone's private key. A RIPEMD-160 hash (which is the address decoded) is 160-bits long, which means 2¹⁶⁰. So you're brute forcing this number:

1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976

Since private keys are ~2²⁵⁶ and all possible combinations of addresses 2¹⁶⁰, then you're trying to find one of the ~2⁹⁶ private keys that collide with the same address. So next time you create an address, keep in mind that besides your private key, there are around 79,228,162,514,264,337,593,543,950,335 more.

I never said this was number of addresses. Plenty of tools exist to find collisions, though OP strikes me as the type that would be more interesting in playing the lottery and bashing up something to search https://allprivatekeys.com/ or something.

never heard of this website, but it's proof of exactly what i said which is they found 19321 private keys in 50771 Bitcoin addresses with transactions. just for bitcoin addresses so to people who say it's not possible here is a good proof that it is possible and can be done with a large enough of group with good machines with some luck

Well as i can see that many of the replies are about how hard it is, i do understand that, let me give you an example of bitaddress.org which was used by many people back in the day to buy bitcoin, what are the chances that someone made a wallet and transfered some bitcoins to it and forgot about it, i can refere you to this https://www.reddit.com/r/Bitcoin/comments/1rli5i/if_someone_cracks_bitaddressorgs_number_generator/

but again maybe the fact that there are +30million wallets without hearing about one wallet collision is proof of how impossible it is. and my point with this topic is that people who say 2^256 and discounting the amount of wallets that are out there with a balance so you're not targeting one wallet but +40mill and growing amount of wallets. maybe oneday it will be billions of wallets. so with technology going up and the chances of brute-force getting higher with every year not lower.

Hey, i just wanna ask if someone here has tried bruteforcing random bitcoin wallets, i understand that some of you will give me big numbers of how impossible that is, but hear me, there are more than 30.4 million bitcoin wallets with a balance (source:cointelegraph), so by dividing that 2^256 by that number you still get a high number, but by studying the algos that create those wallets and patterns that may exist i think that number will be much lower, add to that if somehow you found thousands of people who are willing to brute force using a good algo for couple of years straight, then what are the chances that you maybe find a wallet with a large balance,

and for people who may say this theory is crazy and not possible i refere you to the guy who actually done just that for couple of years and found private keys of 3 small wallets.
This is like digging for gold and by technology going up i believe oneday it will be possible to brute force about 20-100 wallets each year using some crazy asic machine and a whole industry will be built around just this idea.

this is just a theory of mine which made me curious, would love to hear what you think other than no it's impossible.

Quote from: bitmover on February 22, 2021, 02:21:42 PM

Quote from: MrSolo on February 22, 2021, 02:15:36 PM

maybe those coins have issues with nodes and community but their technology like BCH has a 8mb block size or BSV which i think has a 32MB block size which means higher scalability and way lower fees but maybe even that is not enough for real use while BTC has a 1mb blocksize and Segwit2X has 2mb.

This is not a new technology, this is just a design choice. BCH just changed a few parameters, they created zero innovation.

Larger blocks will hurt decentralization. Nowadays it is not very costly to run a full node.

Take a look at Ethereum blockchain, as a comparison. An ethereum full node needs to sync 6.45 TB of space. Because of that, more than 60% of Ethereum nodes run on clouds like AWS servers. This mean the network is not as decentralized as it could be.

As noted by a comment here, SSD and HDD hard drives aren't that expensive nowadays, and what stops the bitcoin team creating full node rewards like in Dash

Quote from: bitmover on February 22, 2021, 01:41:45 PM

Quote from: MrSolo on February 22, 2021, 01:09:58 PM

a real currency like nakamoto wanted it to be that you can actually use to pay for a 2$ cheesburger without paying 15$ to transfer it.

Do you think Satoshi Nakamoto created bitcoin so you could buy a cheeseburger paying less fees? You could use Visa for that before, and you can still use it for that now.

We are talking about decentralization of money, not a cheaper cheeseburger.

Maybe i'm mistaken, it could be that he wanted wealth to be decentralized not currency, like gold to preserve wealth which kinda makes sense by requiring higher fees when volitality orrcures i guess is a smart lock.

However my point is simply that do we need one to be used as currency and won't have issues with scalability and volitality or do you think we already have that?

Quote from: BrewMaster on February 22, 2021, 01:41:54 PM

Quote from: MrSolo on February 22, 2021, 01:09:58 PM

i understand that BCH and BSV are probably way more superior than

why exactly do you think centralized altcoins with lots of weaknesses that the community has ridiculed and ignored are "superior" to anything?

Hey there, i'm an old member of the cryptocurrency world, and remember back in 2017 there was a big conversation about block size and transaction fees, and SegWit2x was announced to be the best solution by increasing the Block size to 2MB, even tho i understand that BCH and BSV are probably way more superior than B2X, do you see a chance of the conversation of high transaction fees when volatility goes up coming back, and what do you think is the best solution or do you think BTC should stay a commodity and not a real currency like nakamoto wanted it to be that you can actually use to pay for a 2$ cheesburger without paying 15$ to transfer it.