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July 05, 2022, 01:39:50 AM *
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1  Economy / Lending / Re: Loans ---- want 80$ to Thursday 15% on: July 04, 2022, 10:45:57 PM
Sent $80 at current preev rate dda709b8ff0bc3a365859c4184be6708289edfcd2b639d43aa899a2ae811f802
Please repay to : bc1qtd497j3wcmlkkzx6knkn7ph8qrdrkud77m0vzk

Side note, and probably one worth discussing (not just about you at the moment) is with the big BTC swings that are going on is how do people want to be repaid.
In theory preev rate [or whaever] to usd or straight BTC value or whatever. You have a lot of funds moving at the moment and I can see someone getting annoyed since they thought "A" and you thought "B" but it was never discussed.

For the record I sent 0.004 and think getting back 0.0046 is fine. Unless BTC moves more then 5% between now and then. At which point it's worth discussing. You could in theory wind up paying me back a lot more fiat value then you expected and in theory I could get back less in fiat then I did.

Open discussion keeps everyone happy.

-Dave
2  Bitcoin / Pools / Re: [ANN] ⛏️ Soloblocks.io - 0.4% SOLO Mining Pool with Provable payouts. on: July 04, 2022, 09:45:50 PM
Hello.
Are you working on this alone? Will you be able to take care of it if user database grows? Or you have other people helping you? This seems quite a lot for a single person, no? If you mind me asking, did you already have the funds to start this or how did you got them?

Anyway, good luck and which you success. More pools might mean a bit more decentralization which is always welcome!

It's solo there really should be no user database except for some basic stats. There are no shares or anything like that. It's a Yes / No question. More or less "Is what the miner sent back a solved block?"
That's part of the good thing about solo pools, although far from simple, it's a lot less complex then ones that hold funds.

-Dave
3  Bitcoin / Mining / Re: Cryptomining - Independence Day 2022 statistics on: July 04, 2022, 04:52:51 PM
Where did you get these numbers? I see many smaller unused DCs converting to small mines. Just had another small one in the mid New York area start mining. Even with all the restrictions NY is putting in they are 100% renewable and small so it barely even made a blip, but they are there.

In general it works out well for all in these situations. The miners get to move into pre-bulit DCs that although not ideal for mining are already there with the infrastructure in place. The owners of the facilities get revenue till they figure out what to do with them. Power is there, cooling is there, high speed data is there. Depending on how old the facility is and how much if any decommissioning work was done you have BU generators and some massive battery rooms still there and working.

-Dave
4  Bitcoin / Bitcoin Discussion / Re: Bitcoin Miners enjoy 3nm Chips from Samsung on: July 04, 2022, 04:42:19 PM
3nm is years away from being used in miners.
No matter how important we like to think we are, mining chips are small runs at best compared to what is needed in for other applications.

Everything needs chips, the smaller and lower power the better. Even with an S19 using 340 chips Samsung probably uses more chips internally to make their consumer products in a day then Bitmain uses in a year (a bit of an exaggeration but you get the point)

But still good in general as progress marches on, lower power for faster is always better.

-Dave
5  Bitcoin / Mining / Re: Central Bank of Russia to Accept Legalization of Cryptocurrency Mining !!! on: July 04, 2022, 02:26:13 PM
I guess the question(s) are

1) Are there enough other places to sell the BTC that would want to deal with the possible sanctions blow-back to make an economic difference.
2) Are there enough miners still in the country to matter?
3) Power / cooling and so on. Due to the sanctions the Russian power grid is going to get more fragile since obtaining spare parts for things is going to difficult*
4) The general feeling that the Russian govt has gone from yes to no to yes to no and is looking back to yes again on mining & BTC in general. Will people make an investment into BTC equipment and facilities if they feel that whenever this conflict / sanctions end the government will go back to no...

-Dave

* This is not a comment against the Russian power grid, but grids in general most of the world is using components from all over the world to make their grid work. Be it transformers / generators / controllers / etc. No one country manufacturers it all.
6  Bitcoin / Bitcoin Discussion / Re: POS VS POW effect on valuation of bitcoin on: July 04, 2022, 01:35:49 PM
.....

Was not just talking about ETH but PoS coins in general. Think of the dozens and dozens out there.

How many more machines are going to be running?
How many older less efficient machines are going to kept on 24/7?
How many new PCs will be bought because someone is keeping their old one instead of donating it to a charity.
How many hours will people loose out of their lives setting up what is needed to get PoS running on that machine and verify it's all working properly.
And so on.....
And then you also have the flip side. I use older miners that have hash boards removed and slower more quiet fans as space heaters for parts of the condo during the winter.
Can't really do that with a PC running a PoS coin.....

I need to have my work PC running 24/7 so I use 1 core (of Cool of the CPU to work with Folding@home to mine some curecoin which is also PoS since what the hell it's up and running anyway. But that's an edge case. For most people running a PC 24/7 is a waste of power.

-Dave
7  Bitcoin / Bitcoin Discussion / Re: Bitcoin is -not- "still in its infancy" on: July 04, 2022, 01:22:12 PM
How about a gentle correction or reply when seen to "Bitcoin is still in it's early stages"
A comment to an online article, an email to the writer, stuff like that.

Don't go in looking for a fight, just a polite comment and statement and move on.

Since we are here, on this forum we are more dedicated BTC people then most. Correcting others because 'we are superior' is going to generate some hostility. Correcting people 'because this may be a better way of saying it' will probably get better responses.

-Dave
8  Bitcoin / Bitcoin Discussion / Re: POS VS POW effect on valuation of bitcoin on: July 04, 2022, 12:43:48 PM
The other thing not being discussed is are PoS coins REALLY greener if they are not using centralized pools?

Oh, running a PC is WAY less power then running a miner. But how many PCs that are running a PoS node are now going to be running 24/7 vs a few hours a day when someone is home and taking care of things? How many more older more power hungry devices will be turned into staking machines? There are huge mining farms in upstate NY that are almost 100% hydro power.

How many old PCs burning 'only 150 watts or so' for people in an area that uses old coal plants to generate power will cause it to be less green then a 10 PH/s hydro powered facility?

-Dave
9  Bitcoin / Bitcoin Discussion / Re: Peter Schiff account frozen on: July 04, 2022, 12:25:39 PM
From the I'm too lazy to look into it deeply department, since PR is a US territory are banks there use the FDIC? Or is it another regulating / insuring body (which may or may not use the same rules)?
I did a very quick search and did not find anything so I figured I was not looking for the correct wording.

Does not matter, banks have been getting closed for not following capital rules for a very long time from a lot of regulators.
Just because a semi-famous person owns part of it should not and does not matter.

-Dave
10  Bitcoin / Pools / Re: [ANN] ⛏️ Soloblocks.io - 0.4% SOLO Mining Pool with Provable payouts. on: July 04, 2022, 12:15:10 PM
I received a PM from the OP and ran the steps as indicated above and it does work as described.

So yes he is doing what he says he is doing.
And a big kudos to him for taking the time to prove it.


Could it change in the future? Sure but so could any solo mining pool so that is not something I would worry about. A little bit of batch scripting and you can run everything in a semi-automated way to make sure it does not.

Unlike a lot of other pool operators here, a big thumbs up in general since unlike a lot of other pool operators he looked at the issues we brought up and fixed them instead of ignoring them.

-Dave

11  Bitcoin / Hardware wallets / Re: Be careful what you plug your hardware wallet into your PC with on: July 04, 2022, 01:40:15 AM
So was talking about this while burgers & beers earlier.
The fix they sent him barely works and causes errors and when it does work it's still not right. But as he put it "was more of a proof of concept then finished coding"
However, they are working on it so I'll give them that.

And yes it's a What's App burgers and beers meeting since he is several time zones away....

-Dave
Interesting; so the bug / exploit you guys found is going to be fixed by the manufacturer now?
I was under the impression that due to its nature it was not vendor-specific to just one brand and that it was going to be hard to fix.

The attack I imagined from your rough description, wouldn't be easy to fix outside the OS level.

The editing of the webpage with an address in a fixed known position is not going to be a fixable, that just is what it is.

The other thing that can be fixed that I have been evasive about discussing is more along the lines of changing the way the apps on the computer talk to the device.
Without getting to into it because:

1) I promised not to
and
2) I don't understand it fully...

The desktop app says to the hw wallet lets send funds to this address 1234 the cable sends to the device lets send funds to 5678 at that point the user should stop. But the issue is a lot of people get complacent and don't check. The other issue is at certain times and certain conditions he can FORCE 1234 to be displayed on the device. Don't ask how I got as far as "you plug in the cable and then......it's all gibberish" I am not ashamed to admit it's over my head. I can fake PHP work, really know linux and like to think I am fairly good at routing. And in general tend to be the go-to person for dealing with many system issues.
But this, nope, I get the basic concept of how it works. But don't get it past there.

-Dave
12  Bitcoin / Hardware wallets / Re: Be careful what you plug your hardware wallet into your PC with on: July 03, 2022, 11:23:10 PM
So was talking about this while burgers & beers earlier.
The fix they sent him barely works and causes errors and when it does work it's still not right. But as he put it "was more of a proof of concept then finished coding"
However, they are working on it so I'll give them that.

And yes it's a What's App burgers and beers meeting since he is several time zones away....

-Dave
13  Bitcoin / Bitcoin Discussion / Re: Bitcoin address re-usage can lead to theft of private keys on: July 03, 2022, 10:03:03 PM
Its no longer news of how cyber crimes is slowly creeping in on digital currencies and to this end, Bitcoin experts advise that the usage of Bitcoin addresses should be done once as it helps to curb the risk of users giving up vital information that could prove costly in the future.
 Continuous use of this addresses can prove to be a bad idea for three reasons:

 1. It is quite harmful to one's privacy and becomes an impediment to BTC censorship resistance
 2. It can leave one open to niche attacks and one becomes vulnerable to these cyber thieves who will extract private keys from signatures after a transaction has been made.
 3. Quantum computers could extract private keys if these addresses are re used.
 Citing an instance of the Ronin network incidence in March, where $540m worth of cryptocurrency was carted away by thieves hopefully by finding a collision of randomly picked message digest of 2ął⁰+1 input of hashes causing possible collides by examining the square root of the number of possible output. Making re-use of Bitcoin addresses risky considering the chances of possible collisions even though the entire process might be time consuming hackers might choose to patiently wait till a collision is found just like the case of Ronin network..

1) 1/2 false. It does hurt one's privacy but it does not matter to censorship. If a service wants to block you or an address it will. They will have an easier time if you keep using the same address but all you need to do is generate a new address or a few thousand new addresses.

2) Nope it does not work this way. There are always people talking about it, but it's not something to worry about.

3) A has nothing to do with B. If quantum computers ever get to the point of being able to do something like that (probably not in our lifetimes) the entire encryption of BTC would be broken. Would not matter if it's one transaction or 1000s of transactions to and from an address. And Roniis is a side chain of an altcoin. Has nothing to do with BTC.

-Dave
14  Bitcoin / Bitcoin Discussion / Re: Bitcoin Will Be a Failure Even If It Hits $100,000, Says "Black Swan" Author !! on: July 03, 2022, 03:10:14 PM
That statement does not even look logical at a quick glance.
Lets say BTC is $20000 today and by the end of NEXT year it is at $100000 unless everything costs 5x as much due to inflation then it's a good hedge against inflation.
If it stays @ $100k until everything costs 5x as it does today it's still close enough.

Math it's a thing......Logic is a thing too.....

-Dave
15  Bitcoin / Development & Technical Discussion / Re: zero-fee transaction accepted on mainnet on: July 03, 2022, 12:35:26 PM
Having a 2nd separate one would eliminate that. As I said, I really really really don't think that would ever happen, but it would be nice.
Good point about it being abused but the same arguments are correct for a second separate mempool, that could be flooded with zero fee transactions to the point where the size of this secondary mempool becomes bigger than the main one. This is why I don't think separating it would solve that problem.

Yes but in my fantasy it would be optional. I would not have to see it or download it if I did not want to. Want to flood it, fine. Some people may care others may not.

But...when we have times like now with dozens and dozens of unfilled blocks I would not have to think about combining a ton of small inputs and what it cost me. Yes it's minor but even at 1 sat/b over the last week I probably spent close to $5.00 cleaning up a lot of them. Here is the point; this post (sorry @DarkStar_) would get me more then that if I was keeping the money, good for me. For someone living in the 3rd world (you know part of the people BTC was supposed to help) that can be DAYS of food for their family.

-Dave
16  Bitcoin / Bitcoin Discussion / Re: POS VS POW effect on valuation of bitcoin on: July 03, 2022, 12:24:53 PM
its simple

a shift from the cost of 1.5million miners hardware and electric cost to mine a block for only 6.25coin
(hundreds of thousands of $ per block: dozens of thousands of $ per coin)

to a few dollars to sign a block..

result: massive cost reduction to make a block means those making blocks sell the cheaper, way cheaper and still profit. = value crash = price crash

..
lets use ethereum.. great example
currently over $1k hash cost to mine a eth

currently ~400k potential block signers of eth PoS
ethereum releases 2eth per block and does about 6k blocks a day. meaning each potential signer might get a chance once every 2-3 months

at a PC rating of 100w (2.4kwh a day) = $180kwh in ~75 days. means
at $0.04/kwh thats a $7.20 cost for waiting 2-3 months to get 2ethereum on PoS or $3.60 per eth

yep
when they say that eth2(pos) is 99.9X% less energy intensive than PoW.. what they are hinting at is the cost of creation is X000x less costly. so expect a X000x factor decrease in value and thus an effect of a X000x factor of price speculation crash too

You are leaving out the fact that you have to spend time to keep your client software up to date. And that you are leaving all that eth locked up. And that if your PoW miner is offline you just loose what you could have mined, with ETH PoS there are penalties if you miss to much work. And so on. There was a discussion about someone staking their ETH in a VM, and they moved that VM to another machine. All was good till they accidentally spun up the old VM and it broadcast something and the validator was slashed.

PoS is not as push to run as many people think. *If it's a 'real' coin.* There were tons of crap PoS coins that could just sit there and stake in their wallets that have died off. As they tried to make it 'better' like ETH they made it a lot more complicated.

-Dave

17  Bitcoin / Bitcoin Discussion / Re: Mexican senator proposes bill to make Bitcoin legal tender on: July 03, 2022, 11:50:14 AM
I *think* things this are going to get more and more support from more and more places.
And banks will support it. Central banks will probably not, but retail and commercial banks will. Mostly for the same reason that after YEARS of being anti-crypto PayPal is not supporting it. The word of the day is FEES. They will happily add some other product to their portfolio that allows them to make money. No different then ant other crypto <-> fiat service.

-Dave
18  Economy / Service Discussion / Re: [unofficial] CoinDebit NO-KYC pre-paid cards? on: July 03, 2022, 11:39:56 AM
...A little later that day, I dropped $190, I had $244 and I was trying to pay for dinner at the restaurant for about $230. But two attempts were unsuccessful....

Many restaurants authorize for 20% to 25% more then the check. This will cover tips / additional items added after the 'closing' of the check.
Was a waiter back in the day and you would be amazed how many times there was '1 more drink' or 'lets get that desert to go for the kids' after the check had been printed and the card swiped.

-Dave
19  Bitcoin / Development & Technical Discussion / Re: zero-fee transaction accepted on mainnet on: July 03, 2022, 12:14:45 AM
Kind of OT for this post but I think it would be good if someone could build the what would have to be a lot of bloat and complexity into core and the protocol that would allow a 2nd mempool so to speak that only has 0 fee tx in it.
It doesn't seem to need that much complexity and definitely not a secondary mempool. It only needs a new condition to reduce the minimum fee from x to 0 either manually for all conditions or automatically when the mempool size drops below a certain size.

That would leave it open to abuse. Mempool small enough to get in a 0 fee TX, send out all these TX to bloat it and push the fees back up. We all know that people would do that.
Having a 2nd separate one would eliminate that. As I said, I really really really don't think that would ever happen, but it would be nice.

-Dave
20  Bitcoin / Bitcoin Discussion / Re: Bitcoin technical vulnerabilities?? on: July 03, 2022, 12:07:58 AM
Control of the top 4 btc mining pools is all one needs to 51% screw btc.

Which are controlled by different entities entirely. I can say I can control 95% of the GPU market by just forcing 2 companies to do something my way.
Could something happen short term, possibly however unlikely. But, once word got out, and think in terms of minutes or hours that they were doing something wrong, you would see hash leaving those pools and going elsewhere. I am going to say that with a lot of PoS coins people set it and forget it and may not even have any idea on how to move thins or cancel staking. (With the current version of ETH staking can you even cancel it?)

I think I would be more worried about my roomba turning against me then mining pools turning against BTC as a group.

-Dave

Really,
do you even know if the 4 mining pool operators are not the same entity.


Yes Foundry USA is a public company.
And with the 'great mining migration' out of China last year it was very easy to see how other pools behaved.
As you get into the smaller ones the operators are well known, many are even here on this board.
How many cardano pools are on AWS or similar hosting?

Either way welcome to my ignore list enjoy your shitcoin.

-Dave

 
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