Revealing the public key gives an attacker a theoretical advantage. In practice not enough to matter, but again, why make it easier?
You couldn't be more wrong. Remember the Android RNG flaw that caused wallets to generate insecure private keys? The bug only affected people whose wallets reused addresses. In theory, assuming no implementation errors anywhere in the software and hardware stack, the advantage of keeping the public key secret is negligible. In practice, using public keys only once means that large numbers of unknown vulnerabilities are off the table. |
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Ripple and Open-Transactions (since someone mentioned it eariler) are both systems for tracking liabilities. Bitcoin is an asset ledger.
Commerce and finance will always involve liabilities, so there's always going to be a need to account for them.
Whether Ripple or OT is better for that task would be a subject for another thread.
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There are many threads on this behaviour and also on ripple's many shortfalls. It will just never work on a global scale its ridiculous and un-enforcable
Ripple is fine as long as it's not falsely advertised. |
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Ripple is a medium of exchange where Bitcoin can be exchanged instantly to or from any other type of asset. Again, this is a lie. You can't move any type of asset, except for XRP, in Ripple. You can only move promises to deliver assets in Ripple. |
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Naturally all the trolls are clamoring for a safe environment in which they can pollute the forum and hinder the flow of accurate information between everyone who isn't a troll.
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People have faith in putting their money in banks because they are sure they can get it out again.
That's why banks were not 'allowed' to fail.
If the general public lost faith that they could ever get their money out then this would trigger bank runs and capital flight.
We even saw in the UK people queuing up trying to withdraw every penny the had from banks like northern rock when it looked like they might collapse.
People are wary about buying bitcoins because there is no protection via regulation of exchanges or other places were bitcoins are held.
Also they are hearing news about this bitcoin exchange collapsing and the CEO of another exchange committing suicide etc.
If that fear is removed and not only were exchanges regulated like casinos in vegas are regulated and checked (casinos have to hold onsite enough dollars to cover every single chip in play) and insurance companies could then insure regulated exchanges the floodgates to mass acceptance will open.
Wall Street regulated Bitcoin exchanges are going to be run like the gold exchanges. This means that bitcoins are going to go in and will never see the light of day again. Your bitcoins will be rehypothecated. You'll only be able to withdraw bitcoin IOUs, not actual bitcoins on the blockchain. Market makers will be able to naked short as much as they want, and when they fail to deliver the bitcoins which they never actually had they'll be able to deliver dollars (which they can borrow into existence from the Fed for 0%) instead. Regulation means that Wall Street wants to enshrine their preferred forms of corruption and fraud into the system while keeping competitors out of the game. |
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In a similar vein, are there any math short-cuts in attacking, say, SHA-256 You do understand that Bitcoin mining consists of attacking SHA256, right? ASIC design is basically about attacking SHA256 as efficiently as possible so if anyone has an incentive to find a shortcut it's them. Any they find will just get incorporated into their products and the difficulty will adjust upwards accordingly. |
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I see that nobody in Ripple wants to talk about counterparty risk.
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TwoBit has proven to be an attention whore at best or an infiltrator at worst... his rise to "prominence" in our community and his subsequent rants seem to be straight out of the NSA playbook as transmitted by Glen Greenwald. We should not underestimate the powers that be, or overestimate the intellectual capacity of your average crypto currency enthusiast... emotions are a powerful weapon in the hands of an experienced opponent  Perhaps the real intent was to get rid of Jon Matonis in favor of someone more friendly to the DC-Manhattan mafia. |
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I'm quite neutral but Ripple seems like a damp squid coupled with a bad launch of XRP that's near infinite in number and the few that have found value then suggest a market cap of $ 1,451,152,125 <- really?.. I don't see it and I'm trying to see it, what does that suggest for how poor their product and/or ability to communicate that. Perhaps I am missing real useability development and it'll suddenly be in our faces as the obvious contender but perhaps it just needs a relaunch. The problem is they can't be honest about what Ripple is and still get as much buzz as they currently enjoy. Right now they, and all the other projects which advertise user-created currencies (Mastercoin, Ethereum, Open-Transactions), are benefiting from this reaction: "Create my own currency? I'm gonna be rich!" This is deeply irresponsible. What they should call them is "user-created loans". This is far more accurate, but if they started using that terminology then all of a sudden everyone would remember that loans eventually need to be repaid and that doesn't look nearly as attractive. It's not that liability accounting isn't useful - it is - but it's not sexy and isn't going to make anyone insanely wealthy. Bitcoin showed us that currencies do not need to be somebody's liability. Currency has been that for so long that it's no surprise that most people don't see the difference, but now that such a demonstration has been made it's dishonest to use the same word to describe tokens which describe liabilities and tokens which are assets. Anything with counterparty risk attached to it is not a currency. Call it something else: debt, liabilities, loans, IOUs - just don't call it a currency. |
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Bitcoin is an asset ledger.
Ripple is a liability accounting system.
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They paid him off. It's good to see corruption is alive and well.
That's why if he really had something he should have just published instead of trying to make a spectacle out of it. |
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Whether it's apparently safe or not, address reuse is always a bad idea.
Just Say No to address reuse.
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The 51% "attack" is a vote, not an attackIt light of many recent, high value bitcoin thefts the Bitcoin community has been discussing freezing stolen coins. (See for example the discussion that generated this one, https://bitcointalk.org/index.php?topic=508971 ) Many are opposed to it because they see it as regulation. But the regulation does not have to come from a judge or one so-called authoritative entity. It can come from the votes of the community, i.e. miners. And this is the way it should be. I call on the developers of Bitcoin to place a priority on providing to the community and miners a simpler interface through which the miners may freeze particular coins. The pools that show a high regard for democratic principles will lead the way to a more respected currency. Nobody is going to fall for your bullshit no matter how much you pollute the forums with it. |
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Ahhh, you mean white collar crime? I heard Wall St. was coming to Bitcoin town. Corzine, Blankfein, Dimon and the other spivs will demonstrate exactly what "doing god's work means" ... Karpeles was a piker.
They don't call it "filthy lucre" for nothing. Money is what money does. All I can say to the people who are excited about Wall Street getting involved in Bitcoin is this: Look very carefully at Germany's attempt to get their gold back from the Federal Reserve. Don't give Second Market any bitcoins that you ever want to see again. |
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Right up until BS&T collapsed, they had numerous customers giving positive reviews of the service, and that's just the most well known example.
Given that customer reviews are demonstrably unreliable for rating businesses, what possible value does your website provide?
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I got mistaken for Davi Barker entirely too frequently.
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By that time either Bitcoin will be the world currency, or else it will no longer exist.
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