What do you think, in the future, blockchain technology will take over. Personally I really hope to see this apply in banks, currently there is no safe and fast way to send money via bank to bank transfer, using block chain you could send money in any amount with low fee from one bank to another bank. This could support a LARGE amount of businesses alone, potentially making this technology more and more popular as long as the government would allow the idea of large amounts of money being transferred like this. Let me know what everyone thinks about potential blockchain-technology-businesses could be and what it's application's could be.
personally i prefer bitcoin, but most sheep will choose to lock their funds into permissioned contracts just for less timewasting/admin headaches
This right here is why I love bitcoin, even if you transfer 100,000$ you can't get your funds locked or stuck in a 180 day hold or some bullshit.
dont be so sure about that if core really went and pushed LN as the end goal of 100% user utility, rather than a voluntary side service.
CLTV is the X day hold(even after LN settlement confirms)
and
CSV is the chargeback(while funds are CTLV maturing AFTER confirm)
look no further than the hyperledger project
the concept is to have atleast 200 chains/ledgers that link to eachother. yes this means public keys will be linked to social security, tax, passport, medical records. but atleast people dont have to sign 20 registration documents for 20 services/entities.
they dont need to be "vetted" for each exchange/bank/service" because all that admin is done in one go.
Well I know currently there is already people who can hack private keys from public keys from using random strings of text and numbers or something along those lines. I hope that, in theory, these public keys with SSN and other important information can't be hacked.
if people are using brainwallets (short length alphabet 'passwords' to create private keys, or bad random generators) then yes they can be hacked.
also if you re-use addresses a few times the 'randomness' of signature data can start showing a pattern.
also vanity addresses are weaker to (easier to brute force a vanity address)
which again is an issue for LN where everytime to sign a payment you are revealing a signature with the certain point of the axis, which with enough signatures can be used to find the pattern and thus find the origin point of the curve(the private key)
this is why you should never re-use addresses using normal bitcoin transactions. and why LN and other things are not completely fool proof
