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July 05, 2022, 07:12:59 PM *
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1  Bitcoin / Bitcoin Discussion / Re: Bitcoin Miners enjoy 3nm Chips from Samsung on: July 04, 2022, 11:38:54 PM
On this note, it is believed that the production of the 3 nanometer chip will cause a relieve on miners from the current situation of the bitcoin high cost for energy demand in mining and the dip in the present market price, according to the Samsung, it said this will bring a dropdown in the amount of energy consumption and increasing the overal efficiency of bitcoin mining from the 3nm chips.

Because of the economics of Bitcoin mining, improved efficiency does not reduce the overall energy consumption. Bitcoin energy consumption depends primarily on the cost of energy and the value of the block reward, and efficiency affects neither of those.
2  Bitcoin / Bitcoin Discussion / Re: Plan B Is a CIA Agent on: July 04, 2022, 12:39:29 AM
alexey14 is a NSA disinformation agent. I have proof but I cannot reveal it here.
3  Economy / Speculation / Re: BTC back at 20K. Imagine who sold at 17.7K. on: July 01, 2022, 06:43:02 PM
I just finished some complex scientific and mathematical modeling and have confirmed in a proven way that the price of bitcoin will never be $20k or above for more than 30 consecutive days at any point in the next 5 years.

... assuming your model is accurate, of course.
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Roger ver got liquidated and owes like 47 million to CoinFLIX on: June 29, 2022, 06:24:23 AM
That reddit post is so incredibly biased that it would be smart to disregard it because many of the statements made by the author are likely to be false.
5  Bitcoin / Bitcoin Discussion / Re: Why my balance is 0 btc in blockchain explore ? explain me please on: June 29, 2022, 06:12:26 AM
I had 0.00018 btc in my privet btc wallet And i send 0.00006 btc to someone and fee was 0.00002 btc and total cost was 0.00008. now it shows my balance in wallet 0.0001 btc without any issue but on blockchain.com explore it shows 0.00000. What is the issue ? something related to Utxo model? my bitcoin wallet is new one and my friend sent me 0.00018 btc for first time to that wallet . please explain me if it is something about utxo model....

A blockchain explorer can be useful for monitoring a transaction, but do not use it to monitor the balance in your wallet. Your wallet uses multiple addresses and a blockchain explorer is not aware of that.

If you expect your wallet to have 0.0001 BTC and it says that it has 0.0001 BTC, then it probably does.
6  Other / Beginners & Help / Re: Is investing more than you can afford to lose inevitable? on: June 28, 2022, 04:27:11 PM
...you can avoid investing more than you can lose by keeping part of your fund in stable coins (especially decentralized) and move the rest to bitcoin.

A stablecoin such as UST?
7  Economy / Service Discussion / Re: Recent events should make you withdraw all your coins to your own wallet: Part 2 on: June 27, 2022, 09:52:41 PM
It's now emerging that in return for their $250 million bailout of BlockFi, FTX will be acquiring a stake in BlockFi. I can't really think of a bigger red flag than when the entity holding your coins is auctioning off themselves to remain solvent.
Latest update to this story: https://www.coindesk.com/business/2022/06/25/morgan-creek-is-trying-to-counter-ftxs-blockfi-bailout-leaked-call-shows/
The $250 million bailout is set to wipe out all other BlockFi shareholders, as it gives FTX the ability to buy out BlockFi at close to no cost. One of these shareholders - Morgan Creek Digital - are now trying to come up with their own rescue package for BlockFi to stop this from happening. BlockFi apparently receive a number of other bailout offers, all of which would have used clients funds to secure the loan from the lender.
So, it doesn't really matter which way you look at this - BlockFi are in trouble and if you have any coins on their platform then you are at a significant risk of losing everything.

FTX's bailout of blockfi is concerning, but what bothers me more are the withdrawal fees. It costs $25 to withdraw stablecoins, for example. If you have $1000 in blockfi, it will take 5 months of interest to pay for the withdrawal. Also, I think many people will be withdrawing all of their money before the fees start and that will create even more problems for blockfi.
8  Other / Meta / Re: Stake your Bitcoin address here on: June 27, 2022, 09:09:38 PM
Can't access my primary wallet. This will be my secondary address for verification of ownership if any need arises. My primary address(1edgym1sR5wLyhiziT8nk5spF1MUWAJcA ) is still valid and is not compromised.
Code:
Address:1SiDiZqbAUN4TvyCCbSM4g1SLiwxedgVt
Message:Today is 27th of June 2022. This address is owned by edgycorner.
Signature:HIVJozDmMMtjnAKGUhcjT98OLIOcwUQZhSiVV05Rp2gQPl314TqwHTqcOWwonLlBZSNMgvVG18M/Us89vHUvKrE=
Simply stated, there is no issue with signing with the 1SiD... address, but if somebody signs with the 1edgy... address, we should believe them over anything that you say. That's how signature proofs work.
Typically, if you want to use a different address, you would sign a message with the original address saying so. Then there is no question, even if the original address is compromised.
Yes.
1edgy is still mine but no access for now. If I am able to recover it, I will post a signed message here. It's not compromised for sure.

You can continue repeating that 1edgy... is yours as many times as you want, but there is no reason to believe you without a signature. Somebody else could claim that they own 1edgy..., and their claim could be just as valid.

It's not a big deal as long as the address is never compromised, and as long as you never need to prove that you are the person that posted the 1edgy... address or that you owned the edgycorner account before now.
9  Other / Meta / Re: Stake your Bitcoin address here on: June 27, 2022, 08:47:08 PM
Can't access my primary wallet. This will be my secondary address for verification of ownership if any need arises. My primary address(1edgym1sR5wLyhiziT8nk5spF1MUWAJcA ) is still valid and is not compromised.
Code:
Address:1SiDiZqbAUN4TvyCCbSM4g1SLiwxedgVt
Message:Today is 27th of June 2022. This address is owned by edgycorner.
Signature:HIVJozDmMMtjnAKGUhcjT98OLIOcwUQZhSiVV05Rp2gQPl314TqwHTqcOWwonLlBZSNMgvVG18M/Us89vHUvKrE=

Simply stated, there is no issue with signing with the 1SiD... address, but if somebody signs with the 1edgy... address, we should believe them over anything that you say. That's how signature proofs work.

Typically, if you want to use a different address, you would sign a message with the original address saying so. Then there is no question, even if the original address is compromised.

bc1ql79tc97m3yswrxeerngewzrp74ue7z4rlv9ss0
You need to sign the address to prove the ownership. Many non-custodial wallet will give you easy access to sign an address. You can check this tutorial. Electrum was used in this example.

Signing the address initially is not strictly necessary. It's a good idea in order to make sure that you can sign a message with the address, but it is really just a formality. The reason is that there is no benefit to claiming that you own a random address. You don't really need to prove that you own an address until you want to make a statement that requires a proof. In this case, the purpose of posting an address is to be able to prove that you are the original owner of the account at some time in the future.

10  Other / Beginners & Help / Re: Swapping Bitcoin for "stablecoin": Smart move or disloyalty? on: June 27, 2022, 07:59:42 AM
But instead of the joy an investor derives after a smart business move, I felt like a betrayer.

Bitcoin doesn't care. Your loyalty is irrational.

11  Other / Ivory Tower / Re: People claiming to be Satoshi (List of Faketoshis) on: June 27, 2022, 07:49:33 AM
Quote
“The Cryptopians” puts real substance behind the crypto community’s longstanding antipathy for Charles Hoskinson, CEO of IOHK and founder of Cardano and Ethereum who was voted out of the Ethereum founding team at the same time as Chetrit. Hoskinson is convincingly depicted as a liar and manipulator of staggering boldness, bordering on sociopathy. This has allegedly included various false claims about his education and, according to Shin’s sources including Joe Lubin himself, claiming to be Bitcoin creator Satoshi Nakamoto. In crypto, sins don’t come much more cardinal than that one.

You are citing an article about a book that says that Joe Lubin says that Charles Hoskinson claims to be Satoshi. I have never heard him claim to be Satoshi.  I think that is a little bit of a stretch.
12  Bitcoin / Bitcoin Technical Support / Re: BTC address generated in ETH-way (keccak) - spendable? on: June 25, 2022, 09:53:48 PM
We know that typical legacy address is made from pubkey -> sha256 -> ripemd160. On the other hand, ETH address is made from pubkey -> keccak -> "ending".

Now, if someone created a bitcoin address based on keccak, is it possible to spend from that address?

I'm going to say NO, but for a different reason than everyone else.

A legacy pubKeyHash is derived from "pubkey -> sha256 -> ripemd160" and the locking script is OP_DUP OP_HASH160 <pubKeyHash> OP_EQUALVERIFY OP_CHECKSIG. OP_HASH160 does the "pubkey -> sha256 -> ripemd160".

Now, if you want to use a bitcoin address based on keccak, you would use a locking script that looks something like this: OP_DUP <keccak hash script> <pubKeyKeccakHash> OP_EQUALVERIFY OP_CHECKSIG, where <keccak hash script> implements the Keccak hash algorithm.

Unfortunately, the Keccak hash algorithm probably cannot be implemented in Bitcoin's scripting language, I believe, simply due to a lack of the necessary of operators.

Somebody correct me if I am wrong.
13  Bitcoin / Development & Technical Discussion / Re: Transaction malleability on: June 20, 2022, 06:07:12 PM
But my point was that when it comes to malleability problem, it's the miner that can change the data and cause the transaction to have to a new ID. It's not that anyone can do that (unless the original transaction has been marked as RBF which is a different topic)

Let's say I created a non-RBF and non-segwit transaction and broadcast it to the network. Now I create another transaction with same inputs and outputs, but a different transaction ID.
Will the new transaction be accepted by the nodes? It's so unlikely.
Can the miner change the data, so a transaction with same inputs and outputs but a different ID as the one I had broadcast is included into the blockchain? Yes.

I think we are just talking semantics. When I say "can", I mean it is possible. When you say "can't", you mean it is difficult or unlikely to succeed. I agree with both. However, it has actually occurred in the past without involving miners (I presume), so I don't think that saying it can only be done by miners is accurate.
14  Other / Beginners & Help / Re: Is investing more than you can afford to lose inevitable? on: June 20, 2022, 05:30:09 PM
In my opinion, the idiom "don't invest more than you can afford to lose" is still valid, but the reasons have changed.

Originally, it was not clear that Bitcoin had no fatal flaws, or that it would even work. It was an experiment. It was not wise to buy bitcoins with money that you could not afford to lose because the whole system could have failed at any time and for some unexpected reason.

Now, after a few near-fatal incidents and 12 years of improvements, the failure of Bitcoin itself looks very unlikely. However, much of the infrastructure and systems built around Bitcoin are still new and are still failing. So, the main risks now are the price of a bitcoin and the failures of the services around it.

  • Hypothetically, if you buy bitcoins at $60k and hold them in your own wallet and a fall of the price to $17k will cause you hardship, then you should not invest. It could happen again, even at the current price.
  • You should still consider that any bitcoin-related companies that hold your bitcoins or that you might invest with could lose, confiscate, or freeze your bitcoins at any time. It happens all the time.

As for other coins, they could fail at any time without warning. They should be considered to be experimental.
15  Economy / Economics / Re: Inflation will not fall to 2% target for two years, Fed's Mester says on: June 20, 2022, 05:05:36 PM
  • Do you think that the Federal Reserve has enough power to control inflation within 2% over the next two years?
  • Do you think Fed can do that without causing a recession that may last for several years?

The Fed certainly has the ability to control inflation. That was proven by Fed Chair Paul Volcker in the 1980's.

I have no idea if their actions will cause a recession, but I think that if the Fed does not cause a recession then the alternative will be many years of economic stagnation.
16  Bitcoin / Project Development / Re: CEX Script or source code using API on: June 20, 2022, 04:43:01 PM
Hello,

Can someone guide me to find (buy) a legit source code or while label centralized crypto exchange service using Binance or Houbi API?

If you are looking for software that trades for you, you are making a mistake, Indian or not.
17  Bitcoin / Bitcoin Discussion / Re: What if the fees aren't enough? on: June 20, 2022, 04:36:31 PM
People were mining bitcoins when the block reward was worth less than $50. There is no reason to believe that the price must increase in order for mining to continue.
I do not mean that, I meant that if the reward is nowhere to be found, and people are making low amounts, then we won't have this miners, it will be a lot slower. What I mean by that is the fact that we have huge factories full of asic miners and so much hash rate right now, all those "even when rewards were under 50 bucks" happened when the hashrate was much lower, and not when we had huge factories of asic farms.

This means that we are at a level where it would not be really profitable for people to keep on mining if there is no profit for those farms, hence it will be like GPU miners for ETH and the hash rate will fall and we will not have the same hashrate and security, that's all.

I agree that if the value of the block reward drops, then the security against 51% attack will also be reduced because the block reward determines the level of security. The real question is what is the minimum necessary level of security.

However, because of the difficulty adjustment, mining will always be profitable for some miners and blocks will always be every ten minutes. There is no issue of mining stopping completely.
18  Bitcoin / Development & Technical Discussion / Re: Transaction malleability on: June 20, 2022, 04:13:58 PM
The basic issue with transaction malleability is that anyone can duplicate a transaction and give it a different txid.
As far as I know it's not that anyone can duplicate the transaction.
Assigning a new ID to the transaction can be done only by the miner and the main problem is that if there's an unconfirmed child, it would be invalidated.

The transaction ID is not assigned by anyone. It is simply a SHA-256 hash of the transaction.

Transaction malleability involves altering any of the bytes in a transaction that are not protected by a signature (such as the signature itself) and producing a duplicate transaction with a different hash/TXID. Anyone can broadcast a valid altered version of any transaction.

... and the main problem is that if there's an unconfirmed child, it would be invalidated.

That's also a problem, but spending an unconfirmed UTXO is risk even without transaction malleability.

It is not the original transaction's hash that is made invalid when the duplicate is confirmed. The transaction itself is invalid because it becomes a double-spend.
I don't think it's true to call it double-spend.

Strictly speaking, it is a double-spend, but I agree that is not what people normally think of as a double-spend. If you want to get really pedantic, an RBF transaction is also a double-spend. In both cases, there are two transactions trying to spend the same UTXOs.
19  Bitcoin / Development & Technical Discussion / Re: Transaction malleability on: June 20, 2022, 02:08:24 PM
The basic issue with transaction malleability is that anyone can duplicate a transaction and give it a different txid. This is not a problem for the Bitcoin protocol, but it is a problem for users who use the txids to track payments. Since txids are really the only way to track payments, it is a usability problem for Bitcoin.

For example, transaction malleability contributed in a small way to the failure of Mt. Gox. Mt. Gox used txids to control when an account was debited after a withdrawal. Certain customers used transaction malleability to duplicate withdrawal transactions, and when the duplicated transaction was confirmed but the original was not, the account was not debited even though the customer received their funds.

It is not the original transaction's hash that is made invalid when the duplicate is confirmed. The transaction itself is invalid because it becomes a double-spend.
20  Economy / Service Discussion / Re: Recent events should make you withdraw all your coins to your own wallet: Part 2 on: June 20, 2022, 01:38:09 PM
It has just come to my attention that BlockFi is closed today for the Juneteenth holiday, and that will not be processing any withdrawals: https://nitter.net/BlockFi/status/1537105514399670273

Why? Has the bitcoin network shutdown? Have miners stopped mining? No, of course not. Seems very much like they are stalling for time ...

FUD

What is the withdrawal process?

Published September 8, 2020

Crypto withdrawals are subject to a security hold and processed the next business day after that hold clears. If the request is placed before 8PM EST (00:00 UTC), it will be processed the next business day. If the request is placed after 8PM EST (00:00 UTC), it will be processed in two business days. Withdrawals are processed between 12PM-8PM EST and are only processed on business days. ...

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