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News: Latest Bitcoin Core release: 23.0 [Torrent]
 
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Question: Did we reach the bottom already?
Yes - 60 (50%)
No, it's coming later this year - 44 (36.7%)
No, it's coming next year or after - 16 (13.3%)
Total Voters: 120

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25813604 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (170 posts by 5 users with 9 merit deleted.)
Elwar
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March 22, 2018, 12:29:17 AM

SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions.

SHA-256 is used in several different parts of the Bitcoin network:

Mining uses SHA-256 as the Proof of work algorithm.
SHA-256 is used in the creation of bitcoin addresses to improve security and privacy.
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March 22, 2018, 12:32:39 AM

Another pearl from the Dev section:

nLockTime is specific to the subject transaction. This means if you sign a transaction with an nLockTime, that transaction cannot confirm in a block prior to that constraint.

OP_CHECKLOCKTIMEVERIFY on the other hand, restrict outputs of a transaction from being spent prior to a certain constraint. There are very different use cases for OP_CHECKLOCKTIMEVERIFY than for nLockTime. If a customer is withdrawing funds from a service, there is no real reason why the service would want to restrict the customer from spending their withdrawal anything other than immediately.

As mentioned above, OP_CHECKLOCKTIMEVERIFY will be used with LN and other similar payment channels. It is likely that OP_CHECKLOCKTIMEVERIFY was soft-forked into Bitcoin with LN/payments channels in mind.
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March 22, 2018, 12:33:19 AM

SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions.

SHA-256 is used in several different parts of the Bitcoin network:

Mining uses SHA-256 as the Proof of work algorithm.
SHA-256 is used in the creation of bitcoin addresses to improve security and privacy.
How dare you contradict?
Satoshi knows better for sure.
 Roll Eyes
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March 22, 2018, 12:45:13 AM
Last edit: March 22, 2018, 12:55:44 AM by xhomerx10
Merited by Last of the V8s (1)

SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions.

SHA-256 is used in several different parts of the Bitcoin network:

Mining uses SHA-256 as the Proof of work algorithm.
SHA-256 is used in the creation of bitcoin addresses to improve security and privacy.

 Yeah and without ECDSA they're pretty tough to spend.  Seems like crypto currencies need cryptography to function.  Anyone know what Satoshi-1 was driving at?


edit: major correction of the meaning of Satoshi
Last of the V8s
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March 22, 2018, 01:00:25 AM

Another pearl from the Dev section:

nLockTime is specific to the subject transaction. This means if you sign a transaction with an nLockTime, that transaction cannot confirm in a block prior to that constraint.

OP_CHECKLOCKTIMEVERIFY on the other hand, restrict outputs of a transaction from being spent prior to a certain constraint. There are very different use cases for OP_CHECKLOCKTIMEVERIFY than for nLockTime. If a customer is withdrawing funds from a service, there is no real reason why the service would want to restrict the customer from spending their withdrawal anything other than immediately.

As mentioned above, OP_CHECKLOCKTIMEVERIFY will be used with LN and other similar payment channels. It is likely that OP_CHECKLOCKTIMEVERIFY was soft-forked into Bitcoin with LN/payments channels in mind.
Panthers52=Quickseller=MasterP should know a thing or two about escrow and how to screw with it.
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March 22, 2018, 01:02:21 AM

I see you have a list, too.
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March 22, 2018, 01:02:41 AM
Merited by xhomerx10 (1)

SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions.

SHA-256 is used in several different parts of the Bitcoin network:

Mining uses SHA-256 as the Proof of work algorithm.
SHA-256 is used in the creation of bitcoin addresses to improve security and privacy.

 Yeah and without ECDSA they're pretty tough to spend.  Seems like crypto currencies need cryptography to function.  Anyone know what Satoshi was driving at?




He is probably (intentionally) confusing cryptography with encryption or cipher which is main commonly accepted meaning/function of cryptography. In so, he is also implying there no "secret" message/information hidden and being transmitted in crypto currencies. I beg to differ even in that case as, for example, a signed hash could be considered some way of transmit a "secret" information being the information/message "contained" the confirmation/proof of control of the private key... without exposing it (that is, remaining secret).

Anyways it is just a silly play with wording that only serves to confirm the attention whore and drama addict he is.
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March 22, 2018, 01:08:46 AM

Hasn't mentioned precious metals or joos in the latest 4 posts.

Do we need some mentions?

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March 22, 2018, 01:13:06 AM
Merited by xhomerx10 (1), Last of the V8s (1)


did not know that tbh

... it's a bit more nuanced than that. As others note cryptographic primitives like SHA-256, RIPMED-160 hash functions and also digital signing using secp256k1 ECDSA derived cryptographic keys are the essential building blocks of bitcoin.

What he's ham-fistedly trying to say is that there is no 'encryption' used in bitcoin, to the effect of being too cute for his own good. However, Bitcoin Core wallet bitcoin-qt does use a wallet encryption layer, PKI for BIP 70, SSL for for RPC calls and Tor is enabled by default for peer-to-peer connections when it is available. Find me one wallet that isn't using 'encryption' of some sort. It's an empty, bullshitting statement to say cryptocurrencies do not use cryptography. Guy is a tool.
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March 22, 2018, 01:13:43 AM



 recycled from an earlier soullyG post
Last of the V8s
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March 22, 2018, 01:18:10 AM
Merited by edgar (1)

I see you have a list, too.
I do like a good list.
Here is last night's top 10 banned words on Weibo:
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March 22, 2018, 01:23:30 AM

If they can't say 'orgy' how do they talk about all the group sex they have?
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March 22, 2018, 01:25:55 AM

If they can't say 'orgy' how do they talk about all the group sex they have?
I'd still say 'enthusiastically', but yes, 'surreptitiously'.
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March 22, 2018, 01:28:17 AM


did not know that tbh

... it's a bit more nuanced than that. As others note cryptographic primitives like SHA-256, RIPMED-160 hash functions and also digital signing using secp256k1 ECDSA derived cryptographic keys are the essential building blocks of bitcoin.

What he's ham-fistedly trying to say is that there is no 'encryption' used in bitcoin, to the effect of being too cute for his own good. However, Bitcoin Core wallet bitcoin-qt does use a wallet encryption layer, PKI for BIP 70, SSL for for RPC calls and Tor is enabled by default for peer-to-peer connections when it is available. Find me one wallet that isn't using 'encryption' of some sort. It's an empty, bullshitting statement to say cryptocurrencies do not use cryptography. Guy is a tool.

You were probably around for when it dawned on everyone that the wallet wasn't even encrypted...
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March 22, 2018, 02:02:14 AM

I was in a taxi last night and caught the end of this song. It went like this: 'I'm in love with the shape of your body'. If you can imagine that
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March 22, 2018, 02:02:18 AM

What has been going on in ETH land...are they ever going to get their shit together over there?
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March 22, 2018, 02:04:46 AM

OMG, it appears we are about to make the death cross.  Shocked Should I really be concerned?
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March 22, 2018, 02:07:58 AM

OMG, it appears we are about to make the death cross.  Shocked Should I really be concerned?

About the value of all the coins you don't own because it's a hobby not an investment? Naw, it's cool
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March 22, 2018, 02:12:27 AM



We may fall tomorrow, but tonight...tonight the bears will choke on bad DBZ memes.
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March 22, 2018, 02:14:38 AM
Merited by BobLawblaw (1)

I was in a taxi last night and caught the end of this song. It went like this: 'I'm in love with the shape of your body'. If you can imagine that

I always imagine you looking like Mayor McCheese, but with blind guy sunglasses on.
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