How to avoid these kind of attacks? I normally don't backup my files.
Sandboxie VMWare Workstation I have pirate copies of both. Or you could use VirtualBox for free fully legal. Another way would be to switch to linux. Yeah, linux is a pain in the ass to use. And VMWare Workstation is a much better app then Virtualbox. It's easier to use and it's much more polished. You can also download VMWare Workstation from VMWare, all you need is a valid serial # (I have a keygen, I can give you one if you need it). As far as hypervisor quality/security, I don't know if either is better or worse then the other. Also, Virtualbox only offers a hosted hypervisor, if you want a bare metal hypervisor you're going to have to go w/ a VMWare product. VMWare is free to use. It's easy once you get use to it. A little tricky for the noobs but after a little learning it's a breeze. Please do not use a keygen. Most keygens contain a bot or virus. Keygen I have is clean. I run keygens sandboxed just to be safe. And you can't get a virus from a text serial #. That was what I was offering (I'll run the keygen, and copy/paste you the serial generated) VMware Workstation (the full featured professional application) is NOT free to use. |
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200 minutes per block?Doesn't sound likely, but we have alt coins to save us.  Well, that's for an extreme 95% hash power leaving the network example. If 3/4s of the hash power leaves, it'll be 40 minutes / block. I had forgotten that BTC had that many days between diff changes. Really amazing if you think about it. Well it's supposed to be 2 weeks per change. Right now it ends up being like 12 days because so much hash power is added every day. If 3/4ths of the hash power drops out that increases to 8 weeks. (if the GH drops out at the start of a "cycle") Thanks for the details...I'm not going to ask why that "feature" wasn't designed better. (Maybe I'll read those threads someday) Bitcoin works really well most of the time. Oversight? Either way, when the time comes where the majority of the hash power is abandoning the network rapidly, you're probably looking at an extreme devaluation of the crypto. Energy prices do increase over time, but that'll cause hash power to gradually leave the network, not abruptly. |
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200 minutes per block?Doesn't sound likely, but we have alt coins to save us. Well, that's for an extreme 95% hash power leaving the network example. If 3/4s of the hash power leaves, it'll be 40 minutes / block. I had forgotten that BTC had that many days between diff changes. Really amazing if you think about it. Well it's supposed to be 2 weeks per change. Right now it ends up being like 12 days because so much hash power is added every day. If 3/4ths of the hash power drops out that increases to 8 weeks. (if the GH drops out at the start of a "cycle") |
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Not impressed that much, on http://bitcoinvanitygen.com/ u can get 9 (!) letters non case sensitive and 7 letters case sensitive easy with couple clicks. To be honest for me this longest addresses are quite expensive but probably not for everyone. You must consider difficulty of address by couple factors, not only lenght but if it has numbers in it and if it is case sensitive which changes everything from my tests. My address: 1veLkroTLLvky76tJEKr2VmEpEPtdjkJZ (im unlucky coz i can't get all same lower case letters or all upper case letters because of how bitcoin addresses are made) Good luck with that site if you want your btc stolen  Never use someone elses services for vanity generation Ohh and, 1btc for 7 letters? What a rip off. I can do 7 letters (case sensitive) in under a day. If you want 1Nigger addresses I'll give them to you for free, just because I think it'd be funny to have transactions come from 1Nigger addresses. I can make like 4 of those in an hour. Btw. If you're using your CPU for this, you're wasting time. A medium range GPU will crunch out 20X more MKey / s then a quad core CPU. |
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200 minutes per block?Doesn't sound likely, but we have alt coins to save us. Well, that's for an extreme 95% hash power leaving the network example. If 3/4s of the hash power leaves, it'll be 40 minutes / block. |
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The drop in hash power doesn't surprises me. Bitcoin mining is extremely unprofitable now. Even if you get the mining rigs for free, the profit will not cover even the electricity expenses.
? The hash power is still increasing. Right now any NEW equipment will likely not generate a positive ROI, but on existing equipment marginal profit (bitcoins mined) still > margin expense (cost of electricity). I'm talking about the future, when the difficulty gets even higher and bitcoin takes another big dive, and people start pulling the plugs on their ASICs. |
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If btc has a 90% drop in a short period of time, a lot of miners would turn off their equipment
History shows that statement is false. Since the introduction in ASICs, there's never been a drop big enough where energy cost of mining > value of btc produced. You can bet those datacenters spending thousands of dollars in electricity a day will turn off their ASICs if it turns unprofitable. |
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I can imagine a realistic scenario when 95% of hash power disappears in a second.
A super massive solar coronal mass ejection could fry electronics on Earth and take out power in many areas for weeks. But if that happened Bitcoin's breakdown would be the least of our worries.
If btc has a 90% drop in a short period of time, a lot of miners would turn off their equipment |
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Wouldn't that cause issues?
Like let's say, the difficulty just reset, so we have 2016 blocks to go till the next change. At the current hash power, it'll take ~ 10 minutes / block like it's supposed to.
And for whatever reason, 95% of the hash power is taken off the network (which is NOT totally unrealistic. If there's a rise in electricity costs or a decline in bitcoin prices to the point where power cost > value of bitcoins mined, a lot of ASICs will be taken offline, since even if you wanted the bitcoin, it'd be cheaper to not run the ASIC and buy the bitcoin instead). The difficulty is still the same, and will remain the same for 2016 blocks. If 95% of the GH disappears, then each block will now take 200 minutes to find on average, for the next 280 days.
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Average confirmation time of ~10 minutes is still quite significant. Won't cause any problem for the online shoppers. But people who want to use BTC for retail shopping won't be able to do it.
Retail transactions are routinely performed at 0 confirmations, because transaction propagation alone validates any given transaction better than any other payment method in existence already. 10 minute blocks being a hindrance to retail application is the biggest myth that absolutely refuses to die. Except as a business owner I'm not giving you ANYTHING till I see 3 confirmations. There is really no need for that. Once you see the transaction go through, even without confirmations, you are safe. The transaction will end up going through...there is no way for the purchaser to reverse it once you see it show up. OK, I thought that having 51% of the hashing power allows you to do just that and more.... Exactly! Since nobody controls or will control 51% of the hashing power, there is no fear for a business owner. You could double spend the transaction. If you control 10% of the hash power, you can replace the Tx in your mempool with one that overrides the existing one. It'll have a 10% chance of working. |
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FYP.
bitcoin is the burner phone of the currency world. No reason to use it unless you're doing something illegal.
Oh, and shit like the OP is why I run my web browsers sandboxed or in a VM.
is there a way to ban this guy.. he obviously doesnt hold any coin or have any understanding of bitcoin.. so why is he here? You're the one who's lacking understanding. As it currently stands, to effectively use bitcoin you have to go through the hassle and expense of converting it into.. you guessed it! real money! Sure, there's a few places that accept bitcoin, but that's very limited, and those places only accept it because they use a payment processing system that immediately converts it into real money. If those businesses actually had to hold onto the bitcoin they wouldn't be taking it. |
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plugging a trezor into your PC and having your PC check the firmware matches the source .... i think that would be a bigger security risk.
the chances that someone can intercept the trezor from warehouse, to your house is small.. but having a firmware/software utility on your pc that updates the trezor, has more chance of being abused by a trojan. replacing the trezor updater with a hijacked updater.
so i personally would prefer a stand alone trezor that doesnt need to connect to th internet to update once a week.. as thats the true risk
You can have firmware that's locked into the chip, and have a PC program has read only access to that firmware, to confirm it's the real firmware. |
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How to avoid these kind of attacks? I normally don't backup my files.
Sandboxie VMWare Workstation I have pirate copies of both. Or you could use VirtualBox for free fully legal. Another way would be to switch to linux. Yeah, linux is a pain in the ass to use. And VMWare Workstation is a much better app then Virtualbox. It's easier to use and it's much more polished. You can also download VMWare Workstation from VMWare, all you need is a valid serial # (I have a keygen, I can give you one if you need it). As far as hypervisor quality/security, I don't know if either is better or worse then the other. Also, Virtualbox only offers a hosted hypervisor, if you want a bare metal hypervisor you're going to have to go w/ a VMWare product. |
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How to avoid these kind of attacks? I normally don't backup my files.
Sandboxie VMWare Workstation I have pirate copies of both. |
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Bitcoin is linked to criminals. As are burner phones.
FYP. bitcoin is the burner phone of the currency world. No reason to use it unless you're doing something illegal. Oh, and shit like the OP is why I run my web browsers sandboxed or in a VM. |
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Depends on what you mean by last.
How long before it collapses and is worth a few bucks a coin again? Probably a few years
How long before drug dealers and other illegal activity stop using it? Probably a very long time.
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Shit, I'm tempted to get a legal name change to Satoshi Nakamoto and have someone "leak" to the press that they found me.
Could probably clear a few hundred thousand $ from media companies before they realize it's bullshit and leave me alone.
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If you made tons of money off this would you want everyone to know about it, including the IRS?
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While it is true that bitcoin cannot be effectively totally banned, the facts are that if it is legislated against in any way that makes it not worth the time and effort of most of the population, it will become effectively valueless to the remainder because there will be no network effects.
IOW, if you can't use a Bitcoin to buy anything from a "legit" vendor, then the network effects will be such that it's worth under a buck to everyone else. A tiny corner of the financial world, indeed.
I strongly disagree. Let's say I have a business that sells product A. And just like me there are many other businesses but they have more money to invest in PR, etc. Now I do not want to go bankrupt just because my gov said "Bitcoin is illegal". And if my product is welcomed to Bitcoiners then Tor is the way to go about it. I do not go bankrupt and guess what?.... I don't even have to declare TAX! Like I said, black markets will emerge and that is NOT what the governments want. That's why they are trying to find a way to regulate BTC, which will not happen IMO. All right, so you're no different then a drug dealer at that point. Most legitimate businesses don't want to go that route. Nope, he is right, Bitcoin is global payment method and we dont have here one country/government. Thats why you cannot regulate Bitcoin globally Individual countries can regulate it. If all the first world countries regulate it what the rest of the world does isn't really relevant. |
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While it is true that bitcoin cannot be effectively totally banned, the facts are that if it is legislated against in any way that makes it not worth the time and effort of most of the population, it will become effectively valueless to the remainder because there will be no network effects.
IOW, if you can't use a Bitcoin to buy anything from a "legit" vendor, then the network effects will be such that it's worth under a buck to everyone else. A tiny corner of the financial world, indeed.
I strongly disagree. Let's say I have a business that sells product A. And just like me there are many other businesses but they have more money to invest in PR, etc. Now I do not want to go bankrupt just because my gov said "Bitcoin is illegal". And if my product is welcomed to Bitcoiners then Tor is the way to go about it. I do not go bankrupt and guess what?.... I don't even have to declare TAX! Like I said, black markets will emerge and that is NOT what the governments want. That's why they are trying to find a way to regulate BTC, which will not happen IMO. All right, so you're no different then a drug dealer at that point. Most legitimate businesses don't want to go that route. Legitimate? What is legitimate about raising a war on another country in order to get their oil? What is legitimate about the way your gov and the banks fuck you right over day after day? Seriously, don't talk about legitimacy. You are an idiot. EDIT: Don't call me a drug dealer. Idiot. Do a search on my previous posts and you will find out that you are way far from the truth. Once again, IDIOT! Guess what. The government gets to decide what's legitimate and what's not. Because they have power. They can throw your ass in jail for breaking the laws they made up. You can say that isn't fair or isn't right, but that's how the world works. I live in the real world, not some fantasy of what the world should be like. It was also very scammy. They were basically selling people gold/silver bullion at a HUGE markup with deceptive marketing. IMO, good riddance. If someone tried to pay me with a liberty dollar I'd call the cops on them. Basically every "liberty dollar" would be backed by like 50 cents worth of gold. Total scam.
Bullshit. Every Liberty Dollar that I've seen was redeemable on demand for a set weight of silver bullion - just as the original US Dollar was redeemable for a set weight of gold or silver. I have one such $20 silver certificate on my desk right now. Up until the feds came in and (illegally, in my mind) confiscated all their precious metals holdings, one could go to their Shelter System Warehouse in Coeur d'Alene, ID, and exchange this $20 Silver Certificate for one ounce of .999 fine silver. Reread what I said. At the time silver was like $10 - $15 / oz, so they charged a massive markup. That IMO is a scam. I never said they didn't honor redemptions. I said they charged a huge markup on their product and marketed it in a way to deceive stupid people. You wrote HUGE markup, it was by your later admission, 50% to 100%. Standard retailer markup. Further, they honored their redemption terms when spot climbed above face value. You also claimed their marketing was deceptive. I again call bullshit. The terms are clearly printed right on the note. 50 - 100% markup for buying gold/silver coins is HUGE markup. And again, their website advertised their product exactly how those "how to make money fast" type websites advertise it. The fake "limited time offer" who's expiration date moves back by 1 day every day. So, good riddance. |
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