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1741  Bitcoin / Hardware wallets / Re: Secure Element in Hardware Wallets on: March 22, 2021, 01:28:28 PM
And entire secure wallet on a single chip. Create some custom spun chip with everything you need on the one chip.

Would eliminate a few attack vectors, but might add some more.

Was watching a youtube video about a company that built a custom piece of hardware for medical data pad for harsh environments, was essentially a custom android tablet with a HDMI connector but EVERYTHING was in 1 chip. RAM / ROM / Flash Memory, CPU, video processor, etc all in the one chip.
Probably won't help much, if at all. There isn't any proprietary secure elements being produced by any hardware wallet manufacturers. Designing one and manufacturing them would probably make the cost of one skyrocket, not to mention that smashing that many components into a single chip isn't common at all.

Communication between secure element and the MCU should be encrypted and if anything were to be extracted. AFAIK, some MCUs actually wipe their memory on bootup, even if the user doesn't do a clean shutdown. Would be better to just use a SE that allows for transactions to be signed within that, so keys are never sent out of it.
1742  Bitcoin / Bitcoin Discussion / Re: Bicoin is making many rich how did satoshi come about this idea on: March 21, 2021, 11:28:11 PM
Please for the sake of clearity would you provide me with links where I can really up all of this because some terminologies used here sounds strange to me and am trying so hard to get a clue of what you are trying to dish out. I will sincerely appreciate it if I get links so I can do my own research
Go read the whitepaper. The references are in it, together with the links. It'll be good to see the early Satoshi emails as well, they can give you some insights into his thought process.
1743  Bitcoin / Bitcoin Discussion / Re: Why doesn't Bitcoin Stop Mining and Shorten Block times? on: March 21, 2021, 11:24:36 PM
1. If you don't own bitcoin how do you get it without going to a 3rd party financial intermediary? (Yes, I realize that some mined it in the early days and some have even gotten paid in BTC, but that is a pretty small % of the population)
The purpose of Bitcoin is to provide an environment that eliminates any third party interference. It does not mean that you cannot exchange it for another store of value that involves a third party; there is simply no way to stop that.
2. What if you want to make a quick transaction with a peer? Wouldn't shorter block times make it more useful?
3. What if you want to make a small transaction with a peer? Aren't the transaction fees high?
It will. There are however technical concerns and political oppositions within the Bitcoin community. Some altcoins like Ethereum has block intervals that are a couple of seconds. In its current state, it is not always desirable or convenient for day to day transactions. Which is where Lightning network attempts to solve, albeit with limited effects.

You can see the block size debate and take the position for yourself.
As a payment system, I see BTC best suited for larger transactions where anonymity is more important than speed.
I agree.
1744  Bitcoin / Bitcoin Discussion / Re: Why doesn't Bitcoin Stop Mining and Shorten Block times? on: March 21, 2021, 04:09:16 PM
If you want to stop mining, then you have to eliminate Bitcoin's PoW first by changing it into something like a PoS. Mining will never stop in Bitcoin's case. The primary aim of Bitcoin is not to make everyone rich by artificially cutting the supply or otherwise manipulating it. It is designed to be a currency with a pre-determined coin cap.

Yes, Bitcoin's utility would be better if it could be confirmed quicker. Completely possible and feasible, the question is if everyone would agree on it. If not, then it'll become another altcoin.
1745  Bitcoin / Bitcoin Discussion / Re: Debunking the "Bitcoin is an environmental disaster" argument. on: March 21, 2021, 04:03:03 PM
If we were to assume that Bitcoin never existed at all, would the world be a better place to live in the sense that all this tremendous energy it currently uses would be redirected to some other things?
Perhaps. It could've had a domino effect for all you know.

All the energy used by crypto miners would be produced anyway, maybe some part would be used, but surely some of that energy would be wasted - therefore, I do not see a problem at all that energy is used for something like Bitcoin, but of course I understand that there are those who will declare even 0.2% of the world's total energy consumption a natural disaster.
The energy that is wasted cannot possibly be sufficient to be able to outweigh the amount of electricity used by Bitcoin mining. You can also store excess energy in batteries or converting it back into GPE through a pump in the case of dams. Not too sure about the efficiency of long distance electricity transmission nowadays but it could've resulted in less fossil fuels burned elsewhere as well.

It is certainly not a natural disaster, nature doesn't consume electricity.
That argument has been defeated hundreds of times, and all those who think Bitcoin is a problem of environmental pollution - stop using your cars, don't turn on the heating over the winter and completely eliminate plastic from your life. Of course, we have all been doing this for decades and no one wants to give up the comfort of life, and all our actions are a thousand times more dangerous than the fact that there is something called Bitcoin that currently consumes as much as 0.2% of total world electricity.
Its estimated to consume 0.5%. Environmental pollution, no matter how small is still considered pollution. All of the examples that you've listed are also culprits of carbon footprint but so is Bitcoin mining. Mining and processing silicon and the production of ASICs may not always be carbon neutral. There are bound to be people who both practice what they preach and advocate for their cause as well, can you really fault them?

If the benefit that arises from using Bitcoin with a higher transaction volume and adoption grows, then I would think there'll be less noise. Most of the commotion is almost always generated by the media.
1746  Bitcoin / Bitcoin Discussion / Re: Bicoin is making many rich how did satoshi come about this idea on: March 21, 2021, 03:14:44 PM
Hal Finney Satoshi wasn't the first to invent a PoW algorithm, Hal Finney did.

BitGold and B-Money were apparently referenced in the whitepaper as well. If you were to look into both of them, you can find some similarities to how Bitcoin actually function.
1747  Bitcoin / Bitcoin Discussion / Re: Debunking the "Bitcoin is an environmental disaster" argument. on: March 21, 2021, 01:32:53 PM
Very well thought out and I didn't have much to counter as well.

Televisions, aeroplanes,Christmas lights, plastic, all require enormous amounts of energy to be produced and used: what is the amount of energy considered excessive to produce them? Why is this calculation done for Bitcoin and not for other goods?
-snip-
You're comparing Bitcoin to its substitutes instead of the various other human activities which could produce significant carbon footprint. Heck, I can think of tons of activities that directly contribute to an increased carbon footprint; transportation, chemical industries, etc. Does that mean that we can just stop producing metals, refining fossil fuels, completely eliminate them from our lives? Probably not.

In comparison, when you're talking about Bitcoin, the adoption currently is far lower than most of it's substitutes. At 7tps, there are tons of other payment methods that easily outpaces this by a factor of thousands without a strain on their network. Can people stop using Bitcoin? Probably, there are other payment methods because really, do the majority of the people absolutely care about decentralization, transparency? I can see an argument for this if your transaction volume rivals them but if the benefits are still fairly limited, then probably not.


What about the e-waste that is constantly generated from Bitcoin mining? The competition makes it such that old ASICs are always phased out once the profit margin diminishes and as ASICs can never be reprogrammed into something else, they usually end up being useless afterwards. Of course, they're always turned on 24/7 with the chips pushed to their limits and the failure rates can be higher than most electronics. Surely both the production and disposal of these ASICs are fairly detrimental to the environment? You can't recycle silicon, or that's what I know.

I'm a strong proponent that Bitcoin's electrical usage, while fairly significant doesn't pose as a serious problem. I can't see how e-waste wouldn't be an issue, as we're talking about environmental impact after all.
1748  Bitcoin / Electrum / Re: Problem verifying electrum on: March 20, 2021, 03:51:02 PM
The signature of this message is valid but utrusted. That means it has not been tampered with. It is untrusted though, because the key has not yet been verified.
Yeah, you'll have to certify it somehow. Not a problem though.
So, is this enough? Should I do something more before I can fully trust this is a legit version?
Unless the PGP key has been compromised, which is quite unlikely, you can trust that this was signed by ThomasV. The fingerprint that I've imported matches yours, 6694 D8DE 7BE8 EE56 31BE  D950 2BD5 824B 7F94 70E6. If you trust that the public key is accurate, then you've downloaded the legit version.
1749  Bitcoin / Bitcoin Discussion / Re: What's the most anonymous way to own bitcoin? on: March 20, 2021, 03:32:58 PM
I'll probably just skip the exchange.

Converting your Bitcoins to altcoins is usually done through an intermediary, usually an exchange which has to collect data for KYC/AML purposes. Even if you use Monero, you'll still have to convert it to Bitcoin at some point which would be through an exchange.

Instead, I'll use a P2P method (slightly more risky but way more privacy) and skip the whole exchange part. Just use a mixer or CoinJoin to break/obfuscate the link and you'll be better.
1750  Bitcoin / Electrum / Re: lowest possible transaction fee for transaction on: March 20, 2021, 02:51:03 PM
I know pretty much nothing of these new improvements, would Schnoor and Taproot have any affect on transactions done with a legacy address (so not SegWit)?
No. Taproot is a new format and this entails that users have to move their funds to a new address, if they want to take advantage of it. The transactions are smaller when it's a multisig (n-of-m) but in terms of size, it won't benefit others that significantly. The assumption is that by optimizing them, the size per transaction goes down and thus other transaction types can pay less fees and fit into a block. Since you have to first transfer it into another TR address, I doubt it'll help much.

Also, Multisig transactions shouldn't form a significant portion of the network.
1751  Bitcoin / Development & Technical Discussion / Re: Bitcoin Address with only one possible Transfer Destination? on: March 20, 2021, 02:11:49 PM
The goal is to apply the concept of Defense in depth, so in case the security controls for address 1D2xxxxxx fail, I want to be sure that bitcoin can only be sent to address 1Ji2xxxxxx. The idea is implemented, in Squares Subzero (https://developer.squareup.com/blog/open-sourcing-subzero/).

"One specific customization we implemented is the ability to enforce that cold wallets can only send funds to a Square-owned hot wallet. Such layering provides defense in depth; forcing an attacker to compromise multiple systems in order to extract funds. It is also possible to build additional layers, where each layer can tradeoff convenience with the amount of funds being stored (onion model)."
The scheme that they described is implemented on the hardware itself; the hardware is designed such that it only signs transactions that spends to specific addresses. It is totally possible to do something like this, just that as long as you are able to extract the private keys, you will still be able to make a valid transaction and spend it.

Something like this is easily bypassed, as mentioned with the private keys/seeds. We're more concerned about making it impossible to spend funds to other address, which would be marginally more useful though probably not necessary. I don't see the need for something like this as it'll just complicate the entire process even more, if the addresses that the hardware was coded to send to were also compromised.
1752  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin Supply Be Manipulated? on: March 20, 2021, 02:04:16 PM
As far as I know, bitcoin supply can be manipulated but it wouldn't be the same because bitcoin supply is already set in stone and any further changes has to happen when it was still in development.
Yes. You can fork Bitcoin Core to increase the block subsidy logic or it's block intervals. It is never really set in stone; any changes to the consensus rules which is incompatible with other clients results in a hard fork. This means that someone can create a new Bitcoin with a larger block rewards. If you're going to generate a block with a larger block reward, it won't be accepted by the nodes running this current version of Bitcoin and thus both chain inevitably deviates.
1753  Bitcoin / Electrum / Re: lowest possible transaction fee for transaction on: March 20, 2021, 12:46:43 PM
I've created a transaction at the end of January with 5.3 sat/byte and it went through in something like 30 minutes. The fees seem to have increased since then.
Sure did.

The trouble is I have no idea when (even if) that will be possible
Even if Schnorr and Taproot, that would be fairly far in the future. Activation logic hasn't even been integrated yet.

I don't expect 1sat/vbyte to be viable in the near future. Electrum does automatically rebroadcast transactions if it isn't included in the server and if it doesn't violate the min fee (someone please CMIIW). Just creating a transaction with a fee that you're willing to pay would be sufficient. Don't worry about mempool min fee, if your transaction can't meet that criteria, it would almost certainly not get confirmed anytime soon anyways; there's 100vMB worth of transaction before you.
1754  Bitcoin / Electrum / Re: How to generate xpub or zpub electrum android? on: March 20, 2021, 12:09:06 PM
Press on your wallet name on the top left. You should be directed to a page which says master public key and the other is the seeds which is censored.


1755  Bitcoin / Electrum / Re: lowest possible transaction fee for transaction on: March 20, 2021, 11:39:44 AM
Unfortunately I didn't really make a graph of minmempool fees but from my experience, the minimum fees tends to fluctuate at about 5 to 6 sat/vbyte.

The lowest transaction which I have confirmed so far is about 8sat/vbyte. On weekends, I use 10sat/vbyte for a fairly high probability. Would it be better to use mempool.space and see if you can find a suitable compromise?

** I don't exactly recommend people to switch servers for the sole purpose of getting lower transactions broadcasted. Reason being, even if you're able to push the TX through, it doesn't guarantee good propagation.
1756  Bitcoin / Electrum / Re: Problem verifying electrum on: March 20, 2021, 05:17:28 AM
I think you forgot to import the developer's PGP public key that can be found on the [1] https://electrum.org/#download. Without it, you cannot verify the signature of your electrum.

[1] https://raw.githubusercontent.com/spesmilo/electrum/master/pubkeys/ThomasV.asc
The signature isn't verified, OP has imported the public key before. It should still show the RSA key without knowledge of the PGP key, instead of a signature mismatch.

As said, changing the file extension to something other than .asc can make it unusable for validation. Make sure that the file name of your .asc matches your .dmg as well.
1757  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin Supply Be Manipulated? on: March 20, 2021, 03:05:27 AM
it's related to the blockchain technology. if you modify one block, then this block won't be accepted by others and discarded at last. you're definitely not the first who thought about this, the designer had already figured the solution Cheesy
It's not about modifying the block. The sole reason why this doesn't work is due to the fact that the Bitcoin nodes enforces the rules individually. Any deviation from the rules will not be accepted, even if the block is valid for the most part. Modifying any block would make it invalid regardless.
1758  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin Supply Be Manipulated? on: March 20, 2021, 02:17:34 AM
Anyone can crack the code. Just modify the block interval or the block rewards and you'll be able to increase the max supply. Problem is, due to your different block intervals (and as a result of the difficulty) and/or your different block rewards, you'll either reject the blocks generated by the network sooner or later. Effectively, you're forking Bitcoin. As a result, you're running a different Bitcoin with different rules that no one follow excepts you.

If you persuade everyone to follow your fork and replace the current Bitcoin, the effectively max cap would be raised. If no one wants to follow, nothing happens for everyone else.
1759  Bitcoin / Electrum / Re: Electrum on Tails Linux Live without persistence on: March 19, 2021, 04:41:52 PM
It is enough. Tails doesn't save any data within the USB that lasts beyond a reboot. This means that if you don't save the seeds, your Electrum will be gone without the seeds. Enabing persistence will allow you to use Electrum across reboots without having to restore everytime.
1760  Bitcoin / Bitcoin Discussion / Re: Segwit vs Legacy, fees? on: March 19, 2021, 04:22:15 AM
There IS a standard for signing messages from any address type available, and it has been around for many years now and is recognized by major bitcoin implementations. If one software doesn't have the feature then it is that software's flaw and you should complain to their developers about why they haven't implemented such an old feature.
I don't think Bitcoin Core implemented either of the BIP? Or I can't find any of sign of the two being implemented.

Yes, it's possible to sign a message with the private key but you cannot refer to the bech32 address directly in doing so; exporting key-> sign message. You have to access the console to call signmessagewithprivkey and use your private key to do so.
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