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October 18, 2018, 02:14:33 AM *
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281  Alternate cryptocurrencies / Mining (Altcoins) / Re: Ethereum EIP 1234 accepted on: August 31, 2018, 08:15:00 PM
Since ETH/EThash ASIC already exist, i doubt this EIP would be useful since GPU miners will be kicked because ASIC, just like with Bitcoin in the past.
Even if ProgPOW proposal is accepted and used, i'm sure people will make an FPGA for EThash since it's specification/limit is known.
282  Bitcoin / Bitcoin Discussion / Re: A Proposed Use For All The Lost Bitcoins on: August 31, 2018, 08:06:02 PM
We've no idea whether 4 million Bitcoin is really lost. It's only rough estimation and we've no idea if the lost coin is actually owned by long term HODLer.

Lost bitcoins
According to an article made by Fortune, there are around 4 million lost bitcoins forever. Chainalysis claims that 17%-25% of Bitcoins total supply has been lost forever due to original coins minted and early investors not paying attention to them, and transactions mismanaged. It is claimed that Satoshi Nakamoto owns around 1 million BTCs but no one can back that claim and they haven’t been in movement for years, maybe they are held as reserve when we mine all bitcoins? Anywho, according to the research there are $5-$20 Billion worths of bitcoins lost forever.

What if we could make a new bitcoin while containing all the original aspects and not hard forking it?

There are many major problem such as :
1. How do you determine which coin is lost without rely on centralized analysis
2. It's impossible to do your idea without hard-fork since the only way to move Bitcoin is by knowing it's private key.

Token Swap
Tokens that use Ethereums ERC20 standard and wanted to leave the network for their main network have used the token swap method. This method consists of migrating old tokens into the new protocol leaving the old ones behind useless. Tron, EOS, and Vechain have migrated all their tokens into the new protocol consisting billion of dollars in movement. This process is easier said than done, but it’s definitely possible.

So basically move to entirely new Blockchain and delete/remove all transaction/address history?
This could weaken Bitcoin security and swap process is dangerous unless they use completely decentralized method.

Bitcoin token swap
What if we would migrate all the bitcoins in circulation, keep all the components but take recreate all the “lost” bitcoins and set them aside for mining rewards, social impacts, or anything with a decentralized community driven vote. The scarcity of bitcoin will stay intact as there will be always 21 million bitcoins, but the mining reward can be increased to incentive more miners to join the network.

If the way to determine "lost" bitcoin is just by check last transaction date to spend the coins, then HODLers would be forced to move their coins regularly.

What other solutions or uses do you see good fit and fair for the 4 million Bitcoins? Let me know what you think, we are all trying to make the bitcoin network more reliable for different uses such as a store of value, currency, cross border transactions, investment tool etc.

There aren't any way fit or fair way for the "lost" Bitcoins and IMO we should left it alone.
283  Other / Beginners & Help / Re: What is blockchain? Great resource to share with friends on: August 31, 2018, 07:30:49 PM
I wouldn't use that page since it's too long for newcomers, especially if they don't have small technical knowledge.

Usually i use Simply Explained - Savjee channel as introduction/basic explanation since even people who barely can use Computer/Smartphone should able to understand.
Also, Blockchain Expert Explains One Concept in 5 Levels of Difficulty on youtube might be great resource whether they're novice or expert, even though i haven't watch it yet.
284  Economy / Service Announcements / Re: - More privacy during Bitcoin exchange / Coin mixer on: August 31, 2018, 07:19:15 PM
1) could You clarify the question please?
We do not really understand where in our system Schnorr Signature is needed and for what? It doesn't work anywhere else at all. This is a part of the fork of Bitcoin, when it will work fine no one knows! It seems to us that it is too early to talk about it. It have been talking for a year and a half about it, but still just toking. It's not even BIP yet. When this fork will be implemented and most nodes will support it, we will find a way to further maximize our customers with these new features, but now it is unnecessary.

AFAIK Schnorr Signature offers few features such as improved privacy and i simply thought people with privacy concern or privacy-centered services would be interested.

3) Bech32 is a new format of SEGWIT addresses. Making a deposit in our direction, we don't care what addresses will be sent bitcoins. We do not withdraw Bitcoin for Bech32, we don't support it.
To do this we need a little time, in the first half of September we will do it.
It is also necessary to check with our clients whether they want us to provide  Bech32 address to withdraw, is it necessary for somebody? If someone wants, we will do it in September. No problem.

While it's not really necessary since anyone just can use legacy/nested SegWit (using P2SH/address starts with '3'), i'm sure few people withdraw to Bech32 address use it if it's available. Besides, SegWit adaption slowly increasing.

What else did you expect from someone who is paying shills to bump his thread every couple hours? Roll Eyes

Too many shit/scam mixers in the market these days.

I agree, just by ask them few technical questions/seeing reply, it's clear they they're not expert at manage privacy/anonymity. At this point, using private and fungible cryptocurrency is better.
285  Other / Serious discussion / Re: Hypnosis as a means of retrieving lost mnemonic seeds. Has anyone tried this? on: August 31, 2018, 06:54:53 PM
If you still have wallet files from 2009 and there's way to verify the wallet isn't corrupted, then i think it's worth to try hypnosis. Just make sure you can pay the cost in case your wallet is empty, unless you're into gambling.
Also, in past i've read few people offer hypnosis specifically to help cryptocurrency investor help remember their wallet password/mnemonic seed.

I bet it would be quite difficult to remember whole private keys even when hypnotised

I doubt anyone can remember private key (whether it's in 256-bit/WIP form), unless they have photographic memory.
286  Alternate cryptocurrencies / Mining (Altcoins) / Re: ZenCash | Horizen - Officially Announces NO ANTI-ASIC FORK - RIP GPU Miners on: August 30, 2018, 05:16:55 PM
Looks like the developer there's no truly ASIC resistant PoW algorithm and it's only matter of time until ASIC manufacture create another one, especially if they only slightly tweak it's PoW algorithm just like Monero which is extremely difficult.
But if they don't care about significant network hashrate change or don't care about hard-fork, then it shouldn't be difficult task for developer.

I suggest OP read this article (ASIC Resistance is Nothing but a Blockchain Buzzword), then you might understand their decision.
287  Other / Meta / Re: Shit posts police on: August 30, 2018, 12:27:06 PM

Mods have other attributes, I was thinking more of a subordinated person to mods.

Mod = Captain
Shit Posts Police = soldier

We already have:
Global Mods - Can moderate all ranks of users and posts anywhere on the forum
Local Mods - Can moderate all posts in their section only and Newbies
Patrollers - Can moderate posts from Newbies in all sections

No to sure how many active Patrollers we have though TBH

Basically you're just asking to add more Patrollers.

I didn't know Patrollers is exist, but i suddenly think slightly different idea.

1. Patrollers report/mark post that violate forum roles (if it's created by member with higher rank)
2a. If a post/thread reported/marked by some Patrollers, then the post/thread is deleted automatically.
2b. If the report/mark count/percentage less than threshold (but not too low), then moderator could check the post before make decision.

But obviously the threshold and list of the Patrollers should be kept as secret to reduce abuse attempt. The threshold of each section should be different and section without many spammer should have higher threshold.

Everyone in the forum has an option to delete spam. You just report it. It will be dealt with. People looks to complain all the time about the spam issue and it would be better if they had a personal delete button. But yet they dont even report them when they see them. So why should they have a delete button?

Some members do, you simply don't know about it.

Theymos also mentioned there's at least 195 users who actively report (have at least 300 good reports AFAIK)

BTW, currently 195 users would have some icon, and only 9 users would have the highest-tier one.
288  Bitcoin / Development & Technical Discussion / Re: Block Size Scalability Issues on: August 30, 2018, 12:16:23 PM
We need massive amounts of settlement tx's on-chain, when people open & close channels on the Lightning Network and the price of a bitcoin must grow exponentially for miners to be profitable.  Undecided

With a big user base who is transacting daily on the LN, there will be enough on-chain transactions.
And if not, the fees for the on-chain transactions will be low enough for users to be attracted by on-chain tx's again.
I believe this will find an equilibrium.

Besides, these reason also makes miners still could get decent amount of TX fees :
1. Few people who don't want to use LN (due to various reason)
2. Services that too lazy to implement LN
3. People who prefer on-chain transaction for big/important transaction
4. LN (or most channel payment) still require at least 2 on-chain transaction (open/close channel), unless with other implementation such as Channel Factories

Unfortunately it's impossible with current PoW algorithm/consensus method since people who have most efficient ASIC with cheapest electricity always win and in PoW, the winner takes all.

This may be true in theory, but in practice most miners are part of a mining
pool. Therefore they participate in the block reward every time that someone
from their pool "gets lucky" and manages to claim the block reward.

In the long-run this smoothes out the mining income and enables mining
on a more industrial scale. Of course there is still the possibility of mining
less than your expected share for a long time, but still taking part in a mining
pool reduces the variance inherent to a system that was designed as a
winner takes all system.

I wonder how Bitcoin would have turned out if we had never seen the emergence
of mining pools. The hashrate would probably be lower, because higher variance
would have made long-term planning and therefore industrial mining much more

That means mining pool only reduce PoW's inherent system and majority still don't get anything (including big miners on other pool). Besides, it's trade-off if the miners care about anonymity/decentralization (even though almost one cares).

If mining pool is never exist, only people with big funds is able to mine Bitcoin while maintain profit, unless lots of people with low funds rely on luck.
289  Other / Serious discussion / Re: Telegram may now disclose your data when requested by the court on: August 30, 2018, 10:24:59 AM
Will this affect the usage of Telegram by cryptocurrency community?

Yes, if the one who use it have big concern of their privacy/anonymity. But mostly won't be affected since most common Telegram usage is only for ICO, Bounty/Promotion and Giveaway.

Will we have to move somewhere else?

No, unless for those who have concern of their privacy/anonymity.
290  Bitcoin / Bitcoin Discussion / Re: 3 Types of Consensus in Bitcoin on: August 29, 2018, 05:42:04 PM
Great article as usual Smiley

Since we're talking about consensus, we should know that consensus only can happen if more than 50% is being honest. Additionally, in Bitcoin we have consensus about Bitcoin improvement which Fiat Money don't have, unless on under huge public pressure.
291  Bitcoin / Bitcoin Technical Support / Re: Verifying the Existence of Digital Assets - Audit on: August 29, 2018, 05:32:21 PM
Additionally they could Mixing service at some point if they have bad intention or knew they would be audited someday.

More info :

The Electrum devs have come up with a proposed method... But as far as I'm aware, it has not been implemented by any other wallets at this time.

AFAIK they still not sure whether wait for Core developer made a standard or follow Trezor standard(

Everyone will need to use Electrum, or you'll need to use "legacy" (aka "1-type") addresses

Or have multiple up-to-date wallet or/and hardware wallet
292  Bitcoin / Development & Technical Discussion / Re: Block Size Scalability Issues on: August 29, 2018, 05:08:05 PM
Bitcoin mining doesn't have to be for everyone(*), only the most efficient ones will keep up.

(*) If Bitcoin mining would have been for everybody, big changes would have been needed, see Monero.

This is a centralized approach to the issue though. Why not making available to anyone instead of excluding users from it?

Unfortunately it's impossible with current PoW algorithm/consensus method since people who have most efficient ASIC with cheapest electricity always win and in PoW, the winner takes all. You even need KYC just to buy ASIC these days

Besides, there are few alternative consensus method such as PoCW[1] and PoC[2] which have goal to make every user can participate on network with it's own pros and cons.

293  Bitcoin / Development & Technical Discussion / Re: A new consensus that promises high levels of security (PoH) on: August 28, 2018, 10:34:54 AM
Bitcoin and most cryptocurrency supposed to be trustless and use consensus method which enable trustless, so IMO this consensus isn't practical at all. Why don't we back using fiat/bank if high degree of trust is required in here.
I also check their explanation ( and they vaguely explain the PoH which don't help at all.

I agree on your points. However, in PoW hasing power is concentrating to 1-2 maximum 3 mining pools so in my opinion this dosn't make them "honest" 100%. Of course, there is a possibility to do a fork if they attack the chain, but wouldn't that affect the reputation of the PoW consensus?

That also applies to most consensus method, but in PoW and some kind PoS, there's punishment/wasting resource such as big amount of staked coins taken away or require million USD for ASIC/electricity when someone attempt to attack network.

As for "who decides who is honest or dishonest", the answer is "Users". People who would be affected by a wrong validation, in other words.

Just with this sentence, there are few critical problem such as :
1. How do they find out whether the user is real or don't have multiple votes/identity within the network?
2. Even if assuming they magically find way to solve 1st problem, people can be bribed, manipulated or have their device hacked to manipulate the vote.
294  Other / Beginners & Help / Re: How can I get started anonymously? on: August 28, 2018, 03:58:46 AM
Something that convenience isn't exist since all centralized service/web/wallet must comply with regulation or they will arrested/shut down.

But if you wish to stay anonymous and don't mind few extra steps, then i strongly suggest you to use DEX/LocalBitcoin to buy/sell Bitcoin and use real wallet (you have access over private key/seed) such as Bitcoin Core or Electrum,
295  Alternate cryptocurrencies / Mining (Altcoins) / Re: GPU Manufacturing Giant Nvidia Leaves Crypto Mining on: August 27, 2018, 04:58:25 PM
That's totally understandable since :
1. Newcomers or anyone who've no idea about Cryptocurrency have bad views about PoW
2. Many new/popular cryptocurrency don't use or moving away from PoW
3. Majority of us know that AMD GPU is better to mine most PoW cryptocurrency Roll Eyes
4. Unlike gaming which have more stable market, cryptocurrency mining has always been risky and there's time when it's not too profitable (just like now) which means their market/demand isn't stable

But looks like the news source is only "clickbait" since few others news only mention that cryptocurrency mining don't bring much revenue to Nvidia now.
296  Alternate cryptocurrencies / Altcoin Discussion / Re: Cobra fights Jihan Wu, and scammers Roger Ver, and Craig Wright like #NO2X on: August 27, 2018, 04:43:35 PM
I praise Cobra for fighting a struggle worth fighting. This is the same as Bitcoin's own NO2X movement that was successful in showing the miners that they should serve the network instead of controlling it.

I applaud his fighting as well, even though IMO it's lost cause.

I believe our community should show support for the Bitcoin Cash community in their struggle. Jihan Wu should support the community or serve it to reach a common goal, while Roger Ver, and Craig Wright should be thrown out.

No thanks, i prefer our community do something else such as encourage SegWit usage, moving away from centralized exchange to DEX, encourage using real bitcoin wallet (where you have access over your private key/seed) or introduce Bitcoin to people who don't know/use it.

Bitcoin and Bitcoin Cash can co-exist in peace. #UANF

With current community? That won't happen.
297  Bitcoin / Bitcoin Discussion / Re: Alibaba Founder Ma Yun discuss about bitcoin: The Bitcoin technical function is on: August 27, 2018, 04:31:50 PM
this problem makes me confused, on the one hand Ma Yun doesn't interest in bitcoin, but on the other hand he wants to push the world into a cashless society. whereas bitcoin can be a tool to encourage cashless society

They need cashless society where companies/government have full control/track over citizens which is the opposite of Bitcoin. Alibaba founder either think decentralization/pseudonymity/freedom strongly correlated with criminal or simply want have control.

which leads to believe that they may start using the technology and create their own altcoin (AliCoin?!) to compete with Paypal, etc more than before.

Well they're definitely very interested in blockchain technology but their interest in crypto seems lukewarm at best, with Jack Ma saying Bitcoin is likely a bubble. I'm not ruling it out, but I don't think it's in the cards for the foreseeable future especially with, as you mentioned, China's generally hostile stance towards crypto.

IMO they using blockchain as buzzword just like most company/ICO do since there's no point of using blockchain for centralized system since such technology already exist (such as DLT).
298  Alternate cryptocurrencies / Mining (Altcoins) / Re: Where can i keep up with what is most profitable to mine? currently mining zcash on: August 27, 2018, 04:12:00 PM
I don't recommend using website that other user mentioned without thinking whether the coins price will stable/rise over time and without knowing difficulty growth rate/halving Roll Eyes
Besides, if you keep switch coins that you mine, you would have difficult when you sale the coins due to using multiple different exchange and most of your income will gone due to withdraw/exchange fee.

I recommend since they have GPU/CPU/ASIC profile with price from various exchange.
I recently seen [ANN] MM.HASH- Auto-Coin/Algorithm Hybrid Switching Miner (New Way To GPU Mine) and would be helpful for you as an alternative.
299  Economy / Service Discussion / Re: Bitmain now requiring KYC documentation to buy hardware on: August 27, 2018, 03:17:53 PM
if bitcoin or any major cryptocurrency (which use PoW and can be mined with ASIC) community want to change to PoW "resistant" algorithm, that would hurt Bitmain (along with other ASIC manufacture) significantly.
If 51%+ of mining hashrate comes from Bitmain's pool or ASIC, i'm sure there will be boycott attempt.

Smaller coins could relatively easily change their fundamentals, but that's unlikely to happen in Bitcoin's case, especially when there is no reason to do so.

I agree, however the idea PoW algorithm or consensus method change has been around for a while (even though at best it stays as proposal) and IMO Bitmain might be reason if they even have 50%+ on ASIC marketshare.

Bitmain needs Bitcoin, for that single reason they won't ever attempt to directly harm it.

At least for now, even though IMO they indirectly harm Bitcoin.

Anyone know the reasoning behind this?  Buying and selling hardware is hardly the same as what an exchange does.  I'm leery about giving them a copy of my passport.

One reason can be regulatory pressure or the anticipation of regulatory pressure. But this is good for Bitmain mining resellers. They can do the KYC requirements to order the hardware themselves and sell with a margin on everyone who doesnt want to give up their identity.

I'm sure you can't hide your identity just by buy from 3rd party, unless it's done person-to-person (not though marketplace such as eBay).
300  Local / Bahasa Indonesia (Indonesian) / Re: [Essay] Blockchain, Bitcoin, Altcoin - Kursus Kilat Pemula on: August 27, 2018, 03:00:16 PM
Artikel yang cukup bagus, karena jarang Bitcoiner yang mau belajar tentang teknologi Bitcoin/blockchain Smiley

- Tidak bisa dimatikan atau dirusak, tahan dari serangan;

Menurut saya hal ini kurang tepat karena hal yang membuat Blockchain aman adalah Consensus method seperti PoW, PoS, dll.
Contohnya jika Bitcoin tidak punya PoW, maka hal seperti "Double Spend" dapat dilakukan dengan mudah.

- Data dapat diverifikasi dan diaudit, bersifat abadi.

Hal ini hanya berlaku bagi Blockchain yang datanya transparan seperti Bitcoin dan Ethereum. Beberapa blockchain menggunakan teknology Zero Knowledge Proof (seperti ZCash dan Monero) dimana transaksi/data bisa dicek kebenarannya tanpa mengetahui isi dari transaksi/data tersebut. [1]

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