I really like some of franky1's list, especially making hardware wallets better.
 advantages no software touches the device private keys remain hidden the device is wearable (new fashion craze=popular) making a tx is as simple as shaking your wrist no need to understand the mechanics of bitcoin to use it |
|
|
|
|
yes i have seen a few times common people think of virtual currency being the funny play credit balance you get for free when playing facebook zynga poker.
they talk about bitcoin the same way when its in the context of virtual currency
as for cryptocurrency. some think of it as dark, cryptic and strange. and see it more of the darkweb geek stuff.
thats why when asked what i do. i just say im an international currency and asset trader, as my intro.
|
|
|
|
I will build a bitcoin community in the area where I live. I believe the greater the bitcoin users it will assist in the development and improvement of bitcoin in the world. I want begin everything all over.
best advice. start small. dont hire big spaces out like a open space building for a year. start small like do a local meetup at a easy to find cafe /bar that is common place and doesnt require deposits or reservations.. like a small random one off social event. just to gauge/see how demand/popularity then if lots are turning up and while talking you see there is demand for a regular large location to be needed then do it. some people start at a bar where say 10 people turn up. then those people go and find a few others and the following week you book a night at a bar with a stage/(karaoke/mic night) area that can cope with 100, and you make it into a mini conference with speakers talking on stage. then you expand from there if you already know of 100+ people locally that will want to turn up then skip the meetup and instead book a night at a place that has a stage and enough standing seating area, and then charge a small entrance fee to cover your costs for the night. try not to get greedy with the entrance fee, unless it starts becoming a big event with lots of guest speakers and things happening |
|
|
|
More on Bitcoin awareness starting on the local community and hopefully word of mouth to reach more people, Most people mentality everything that involves money on the internet is a scam. changing the perception about bitcoins will be a good start.
3) PEOPLE need to realise bitcoin is code. it has no voice to promote itself and no arms and legs to defend itself, PEOPLE need to get involved instead of sitting on their hands waiting for bitcoin to do something.
EG if you want retailers in your area to accept bitcoin. go speak to them yourself
EG if you want to make bitcoin more popular. learn about bitcoin then set up some meetups/conferences
|
|
|
|
imagine old concept is depositing funds into your wifes account so that when you want to pay for something you need to ask her and its her that makes the payment. but she decides to run away with the milkman and your cash
imagine a new concept of a joint account where your wife cant run off with the milkman with all your funds, because she needs your authorisation to make payments aswell as hers.
1st of all, fuck milkmen. I mean seriously. They were obviously screwing everyone's mom. No wonder they don't exist anymore. Too many love-childs. Anyways, with bank accounts you can have anyone can sign (ie 1 signature required) or everyone must sign (ie everyone on the account must sign). This is both in personal and business banking. Most joint accounts are probably anyone can sign though, but you do have a choice. It's definitely not a new concept. Imagine this: "Johnson!" Says your boss.
"Yessir!" You reply.
"I just got this $1,000,000 cheque that I need you to deposit into our business account that you're a signer for."
"I'll get on it right away sir!"
Deposits money. Withdraws $1million. Lives happy ever after in the Cayman Islands.
There's a reason this doesn't happen literally every minute of every day. i didnt mean literally bank accounts. i was just putting multisig into a prospective common people understand. and yes in multisig you can have 1-of-2 also.. but then again in joint bank accounts you can also require dual signature where in multisig you can require 2-of-2 there are multiple purposes requirements you can set on a multisig and bank account. EG child trust fund require both parents signatures and only unlocked at a certain date. =2 of 2 multisig with a CLTV script i only mentioned it as some people dont understand multisig/LN at its most basic use-case concept |
|
|
|
if we want to starting trade bitcoin or altcoins putting our bitcoin to exchange is necessary to do so
imagine old concept is depositing funds into your wifes account so that when you want to pay for something you need to ask her and its her that makes the payment. but she decides to run away with the milkman and your cash imagine a new concept of a joint account where your wife cant run off with the milkman with all your funds, because she needs your authorisation to make payments aswell as hers. multisig is the new concept but i feel exchanges will wait for LN to be the 'tool' to make that a userfriendly process because at the moment trying to do multisigs is not 'granny friendly' in current popular bitcoin implementations |
|
|
|
heres some idea's what people can do this year 1) hardware wallets need a revamp. they need to function without needing to download browser add-ons or connecting to websites or things like electrum. EG have software self contained EG a fitbit/smartwatch with NFC to make payment just by swiping a retailers touchpad (and yes its possible, just not done yet) 2) nodes and wallets need more diversity. so far knots, blockchain.info, bitcoinj, greenaddress, core are all under the same 'ownership' 3) PEOPLE need to realise bitcoin is code. it has no voice to promote itself and no arms and legs to defend itself, PEOPLE need to get involved instead of sitting on their hands waiting for bitcoin to do something. EG if you want retailers in your area to accept bitcoin. go speak to them yourself EG if you want to make bitcoin more popular. learn about bitcoin then set up some meetups/conferences 4) bitcoin jobs. look for a product/service you think will be useful to sell. then look for suppliers/employee's/dropshippers and then start selling them for bitcoin. 5) exchanges should start requesting a public key and use the bitID concept for logins instead of passwords, and also use the public key to form multisigs to hold funds, instead of giving customers easy to fake mysql balances. thus mitigating hacker/insider embezzling risks |
|
|
|
What about exchanges like ShapeShift? They don't hold your funds (not for long atleast) so if they get hacked, not much would be lost. Or is it just too impractical?
thats a coin swap service. not a full day-trade exchange that handles fiat. but lets play devils advocat. lets say full exchanges were to have been hacked. this is because private keys are on the same front-end server as the users place orders. this can also be mitigated by exchanges having a front-end with only publicly(deposit) keys and a 'command' database. EG instead of the front end signing transactions, the front end puts a user withdrawal request into a database. and secretly a secondary system is checking that command database in seconds and processes it from another system. double checking the user actually authorised it. the 'delay' is not stupidly a long manual process but a milisecond response time. just separated instead of combined into one system though i would still prefer this separate system to use multisigs to not have 100% control of funds |
|
|
|
I doesn't really matter what people here are proposing to reduce victims at the time exchanges get "hacked". People are too lazy and don't care as their behaviour didn't change a single bit after all incidents that we have seen. If you put decentralized exchanges aside, then the only possible outcome will be that exchanges store all their coins offline and thus get rid of hot wallets. It will annoy people as cashouts will be more time consuming as exchanges have to process everything manually, but at least it will have an immediate effect. But then again, it will protect you from hackers, but there are also the employees or the exchange operators that may turn out to be filthy thieves.
no no no putting funds offline in exchanges full control is the problem.. not the solution the solution is to have funds not be able to move without users authorisation.by this i mean get rid of "passwords" stored on an exchange, because this is still giving exchanges/hackers control. and instead use a bitcoin feature built in since day one.. SIGNATURES How would that work out since coins people deposit will get mixed within their system? As soon as you request a cashout, you'll get different coins than what you deposited. They don't appoint a certain amount of coins just for you where you can request a cashout and receive exactly these coins. I really don't see how exchanges are willing to change the way their system is set up. Every proposed change has to comply with the policies of the insurer (in case they have everything insured). exchanges need to change
firstly
exchanges should ask their customer to register an empty public key. (emphasis PUBLIC)
the customer keeps the private key a secret.
next to log in users are shown a message. and the user has to paste in the signed message, to prove who they are.
that way 'passwords' are not saved on databases or involved because the message and reply(signature) is unique at each login.
next
the public key is used with a public key belonging to the exchange to form a multisig.
the multisig becomes the deposit address.
then when users want to make an order they sign a multisig transaction to give the exchange X of total balance. to place that X onto an order.
this way funds are made more so as a 50% user-50% exchange control of funds. and outside and inside hackers cannot take 100% control
in short LN will become useful for exchanges, because LN is about multisigs. |
|
|
|
I doesn't really matter what people here are proposing to reduce victims at the time exchanges get "hacked". People are too lazy and don't care as their behaviour didn't change a single bit after all incidents that we have seen. If you put decentralized exchanges aside, then the only possible outcome will be that exchanges store all their coins offline and thus get rid of hot wallets. It will annoy people as cashouts will be more time consuming as exchanges have to process everything manually, but at least it will have an immediate effect. But then again, it will protect you from hackers, but there are also the employees or the exchange operators that may turn out to be filthy thieves.
no no no putting funds offline in exchanges full control is the problem.. not the solution the solution is to have funds not be able to move without users authorisation. by this i mean get rid of "passwords" stored on an exchange, because this is still giving exchanges/hackers control. and instead use a bitcoin feature built in since day one.. SIGNATURES |
|
|
|
Oh my god... there was trojans and virus in my computer and changed the address... It seems I lost .3 btc....  normally a random person that has not used bitcoin wont get a virus that is dedicated to playing with bitcoin addresses. so i am guessing you downloaded something bitcoin related before. alot of reports are that people download programs promising bitcoin income, bitcoin doublers. and other fake promises. look at all the bitcoin related programs you have and you will find the culprit |
|
|
|
I tried it didnt work.... help im starting to panick !
That's kinda weird, have you tried sending coins from your wallet maybe it's just a visual bug. Try pressing the refresh button that could help in updating your balance. If the receiving address changed that means you sent it on the right address, so don't worry much. You can still view the previous receiving address by following the steps here. I checked the wallet address isnt there ! And I havnt recieved the funds yet... check your browser history and see if you went to blockchain.info and not a website of similar but not exactly same spelling (a phishing site) check if you have any browser extentions/add-ons if all clean log into blockchain.info and go to the section where you back up your keys and see what keys are logged. it might be simply that when you are looking inside your wallet, you are looking at the balance of a different address and not the overall account of all keys. |
|
|
|
The right question is how were they hacked? Hacking is inevitable, so what are exchanges doing to prevent the hack. We will always use exchange even if we have the safest wallets but are precautions being engaged?
they were not hacked. they just wont admit to embezzling funds. the solution is to prevent them from being able to embezzle funds.. which means that if there was also an outsider hacker. they cant steal either. this is done by not giving exchanges 100% control of funds |
|
|
|
exchanges need to change
firstly
exchanges should ask their customer to register an empty public key. (emphasis PUBLIC)
the customer keeps the private key a secret.
next to log in users are shown a message. and the user has to paste in the signed message, to prove who they are.
that way 'passwords' are not saved on databases or involved because the message and reply(signature) is unique at each login.
next
the public key is used with a public key belonging to the exchange to form a multisig.
the multisig becomes the deposit address.
then when users want to make an order they sign a multisig transaction to give the exchange X of total balance. to place that X onto an order.
this way funds are made more so as a 50% user-50% exchange control of funds. and outside and inside hackers cannot take 100% control
in short LN will become useful for exchanges, because LN is about multisigs. |
|
|
|
|
look at your chart at december 2013.. when it nearly hit parity.
people got scared and thought it wont be sustainable
this time it may do the same thing again and plunge down or it may hold at parity or it may exceed gold.
no one can predict the future but only wager the chances based on past trends and also current trends/tendancies
|
|
|
|
I agree. I just think calling it a "blockchain" should only apply to Bitcoin (and other like
cryptocurrency), since the Bitcoin Community created the term "blockchain" to describe the
Bitcoin's system of mining and block building.
Prior to Bitcoin and the Bitcoin blockchain, it would be considered "chain-stamping" or
"stampchains" or whatever. Only now that "blockchain" is an established term, do we now go
back and incorporate older works and change the "blockchain" definition so that those fit as well.
For example, I believe you need an incentivized token for a "blockchain" to work properly.
I believe that the secret to Bitcoin's success is that the token, the chain, and mining is the
same entity just represented in different ways. So, in that way, bitcoin = miners = blockchain,
so prior work or simpler systems such as what I linked to prior, are not blockchains, IMO.
This is why, IMO, a term "blockchain" should only be used in the context of Bitcoin.
The blockchain is the token and the miners, not just a chained ledger.
In my definition of "blockchain", the "blockchain" is something much larger,
it is like a full self-reinforcing system, like a stool on three legs.
um nah im my definition. bitcoin is a patchwork of atleast 10 concepts. by saying a blockchain has to be only about bitcoin. then there becomes no need to call it blockchain. you would just call it bitcoin like a stool. you wont need to talk about a stool leg and why having stool legs set at a certain angle and pieced together with a seat, with interconnecting footrest which reinforces the legs. and then a covering of paint and gloss makes it important. you would just say here is a stool. atleast separating the word leg. you can then say stool X has 3 legs at a slight diagonal angle or another stool has 4 vertical legs. or the legs are made of steel instead of wood. you can then explain why one stool is better than another stool p.s stool.. is something you find in the toilet before you flush  so be careful when trying to have 2 things meaning one thing. because if 2 things mean one thing.. then it gets confusing when asking someone if they want to see the stool you put on your kitchen floor |
|
|
|
I agree with you.
I just have elaborate its at normal level to understand newbie bit more about how processes of bitcoin or any altcoin work to finalize block and distribute rewards.
yea this forum is about bitcoin so most will talk about blockchain in the context of bitcoins unique utility of a blockchain. but its still worth noting that blockchain is not strictly a bitcoin thing. however bitcoin does use blockchain and things like PoW in a unique way that is/was a mindblowing concept in 2009 |
|
|
|
...
blockchain is simple
its a block of data chained to another block of data.
its that simple
what the data is, is meaningless
what format the data is, is meaningless
how the data is chained is meaningless..
...
By your definition, the blockchain may have been invented in 1991 or even prior. https://www.anf.es/pdf/Haber_Stornetta.pdfIf it is just a simple chaining of data that cites the prior data, then blockchain is just another way to saying "time-stamping". I think the "blockchain" as Satoshi described it is more than "time-stamping". By using your definition, than Satoshi did not invent or improve the blockchain. you are correct in both respects bitcoin EMPHASIS BITCOIN is a patchwork of atleast 10 different concepts brought together in a unique and beautiful fashion. its then bitcoin that became the example of how these older concepts can be used. bitcoins blockchain is definitely more then just timestamping data. it uses other concepts to secure it and make it a unique way to make BITCOINS data immutable to be able to be made public. but blockchain EMPHASIS BLOCKCHAIN doesnt require all of bitcoins 'features' just to be a blockchain yes blockain is an old invention and as those cypherpunks of yesteryear know that there were issues they couldnt solve to allow a blockchain to be totally public and decentralized until satoshi added his patchwork of multiple concepts to bring bitcoin into existence. and that bombshell expanded peoples minds forwards.. and backwards |
|
|
|
I read most of all views everyone mentioned about blockchain. But no one clearly mentioned.
I am not genius, but what I understand about bitcoin development is as below...
Bitcoin is made up with combination of blockchain and cryptography. Basically blockchain and cryptography both are man made things with quantum physics. But Satoshi Nakamoto is the person who brings them together to make invention of Bitcoin.
Now few words about about Blockchain and cryptography
What is Blockchain ?
Blockchain : We can divide it into block+chain. These blocks are made up of mathematical formulation which have to solve with computing power. And after solving these blocks which are made of encrypted non reversible data storage. So in short word we can say Blockchain means non reversible data storage with encryption. In blockchain each block have certain data which is connected to each one and can be used to access encrypted data anytime.
Cryptography : Crypto is the main word which means the art of writing or solving codes. Now it has many types of writing code while solving blocks with help of various algorithms.
While miner solve block with using specific computing power with solo or pool mining they receive rewards for there contribution. But this rewards is vary an depends upon many factors. Such as block height, block difficulty, block reward, time taken to solve 1 block, maturity of block, total contributing power etc.
the bit in red is wrong thats BITCOINS blockchain. you will find that there are other blockchains that are chained together in other ways. a block is just a clump/cluster/group of data put in a lump. how its recognised as a block how its secured if its locked to be immutable or linked but editable are all optional. bitcoin however chose to go for the immutable route with using sha256 hashing to recognise a block.. and then PoW hashing using Sha256 and a target pattern to achieve to secure (double lock) the block data to a way that becomes hard to break EG a block of data can be signed using a keypair. and then signed by several keypairs. it can be made editable only by those keypairs. immutability is not actually a default requirement of blockchain. but their are obvious advantages of those using blockchains to want immutability if the data is to be made public bit in blue is also incorrect some blockchains can release all the circulation at genesis and then choose to demurrage(tax) the funds if they dont move. some blockchains dont even have to contain any financial "coins" at all. it may just be identity data or domain name data |
|
|
|
|
Show Posts
