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Author Topic: Bitcoin technical vulnerabilities??  (Read 302 times)
DaveF
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July 03, 2022, 12:07:58 AM
 #21

Control of the top 4 btc mining pools is all one needs to 51% screw btc.

Which are controlled by different entities entirely. I can say I can control 95% of the GPU market by just forcing 2 companies to do something my way.
Could something happen short term, possibly however unlikely. But, once word got out, and think in terms of minutes or hours that they were doing something wrong, you would see hash leaving those pools and going elsewhere. I am going to say that with a lot of PoS coins people set it and forget it and may not even have any idea on how to move thins or cancel staking. (With the current version of ETH staking can you even cancel it?)

I think I would be more worried about my roomba turning against me then mining pools turning against BTC as a group.

-Dave

Really,
do you even know if the 4 mining pool operators are not the same entity.


Yes Foundry USA is a public company.
And with the 'great mining migration' out of China last year it was very easy to see how other pools behaved.
As you get into the smaller ones the operators are well known, many are even here on this board.
How many cardano pools are on AWS or similar hosting?

Either way welcome to my ignore list enjoy your shitcoin.

-Dave

 

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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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LegendaryK
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July 03, 2022, 02:34:53 AM
Last edit: July 03, 2022, 02:52:17 AM by LegendaryK
 #22

Yes Foundry USA is a public company.
And with the 'great mining migration' out of China last year it was very easy to see how other pools behaved.
As you get into the smaller ones the operators are well known, many are even here on this board.
How many cardano pools are on AWS or similar hosting?

Either way welcome to my ignore list enjoy your shitcoin.

-Dave

I shall treasure being on your ignore list.  Smiley

Gotta love comparing 3000 cardano pools to less than 20 btc pools.

Have a Great weekend.  




@Franky1,
Sorry old boy , you were wrong.   Cool
Coinbase does not have an insane amount of eth2 compared to the others.
https://pro.nansen.ai/eth2-deposit-contract
Quote
Depositors
22h ago

    Unknown          4,407,364
    Lido Finance     4,127,136
    Kraken             1,112,928
    Coinbase          1,067,840
    Binance               588,608
    Staked.us            393,952
    Bitcoin Suisse      288,096
    Stakefish            278,784
    Celsius               158,176
    Other                 565,21

Quote
Where did depositors get their ETH?
22h ago

    Unknown        39%
    Kraken           10%
    Binance          10%
    Coinbase          9.88%
    Bithumb           6.16%
    Celsius             2.55%
    1inch.exchange 2.41%
    KuCoin              2%
    Uniswap            1.64%
    Other              16%
yhiaali3
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July 03, 2022, 03:35:21 AM
 #23

This is nonsense, the Bitcoin network is the strongest and most stable network ever, so far no one has been able to do any attack on the Bitcoin blockchain, governments have been against Bitcoin for a long time, if this was true, why didn't they try to do such an attack? To at least prove that the Bitcoin blockchain is not as strong as it is required, in my opinion they cannot carry out a real attack on the Bitcoin network so they do another type of attack on Bitcoin like this or the phrase “Bitcoin is dead” that spreads from time to time, they have nothing but talk and try to intimidate people to keep them under control and centralized.

franky1
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July 03, 2022, 06:40:01 AM
 #24

Yes Foundry USA is a public company.
And with the 'great mining migration' out of China last year it was very easy to see how other pools behaved.
As you get into the smaller ones the operators are well known, many are even here on this board.
How many cardano pools are on AWS or similar hosting?

Either way welcome to my ignore list enjoy your shitcoin.

-Dave

I shall treasure being on your ignore list.  Smiley

Gotta love comparing 3000 cardano pools to less than 20 btc pools.

Have a Great weekend.  




@Franky1,
Sorry old boy , you were wrong.   Cool
Coinbase does not have an insane amount of eth2 compared to the others.
https://pro.nansen.ai/eth2-deposit-contract
Quote
Depositors
22h ago

    Unknown          4,407,364
    Lido Finance     4,127,136
    Kraken             1,112,928
    Coinbase          1,067,840
    Binance               588,608
    Staked.us            393,952
    Bitcoin Suisse      288,096
    Stakefish            278,784
    Celsius               158,176
    Other                 565,21
your slowly getting there but your missing the ultimate point here.


a little hint.
the owner of coinbase has holdings/control/deposits of more the 1,067,840 eth

"coinbase" is not a small business with no owner company/subsidiary or sister company.
once you look through the large picture frame of the DCG with their greyscale eth holdings and such it becomes more apparent..
take the 'lido' as an example..
https://www.crunchbase.com/organization/lido-b607/company_financials
(invested in by........ coinbase)

..
ok lets do a bit of reverse psychology..
take your mindset of ignoring asics and just want to concern yourself with 'pool managers'
and use that context and apply it to DCG(where coinbase is groups public/advertised face) and its portfolio
oh and i hope you spot kraken in the the DCG family

incase you need a little spoonfeeding, heres a little help
https://dcg.co/portfolio/

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
LegendaryK
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July 03, 2022, 06:49:35 AM
 #25

Yes Foundry USA is a public company.
And with the 'great mining migration' out of China last year it was very easy to see how other pools behaved.
As you get into the smaller ones the operators are well known, many are even here on this board.
How many cardano pools are on AWS or similar hosting?

Either way welcome to my ignore list enjoy your shitcoin.

-Dave

I shall treasure being on your ignore list.  Smiley

Gotta love comparing 3000 cardano pools to less than 20 btc pools.

Have a Great weekend.  




@Franky1,
Sorry old boy , you were wrong.   Cool
Coinbase does not have an insane amount of eth2 compared to the others.
https://pro.nansen.ai/eth2-deposit-contract
Quote
Depositors
22h ago

    Unknown          4,407,364
    Lido Finance     4,127,136
    Kraken             1,112,928
    Coinbase          1,067,840
    Binance               588,608
    Staked.us            393,952
    Bitcoin Suisse      288,096
    Stakefish            278,784
    Celsius               158,176
    Other                 565,21
your slowly getting there but your missing the ultimate point here.


a little hint.
the owner of coinbase has holdings/control/deposits of more the 1,067,840 eth

"coinbase" is not a small business with no owner company/subsiduary or sister company.
once you look through the large picture frame of the DCG with their greyscale eth holdings and such it becomes more apparent..
take the 'lido' as an example..
https://www.crunchbase.com/organization/lido-b607/company_financials
(invested in by........ coinbase)


Geez,
Your ever so slow conspiracy theory has just exceed my patience ,
now you're just wasting my time.

In your imagination, Coinbase controls Lido and Unknown and probably Kraken and Binance  .

You have a nice day.  Smiley
franky1
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July 03, 2022, 06:53:06 AM
Last edit: July 03, 2022, 08:30:59 PM by franky1
 #26

aww poor man..
when you avoid the https://dcg.co/portfolio/ content you want to cry that the person that spoonfed you the answer must be making it up.. but that doesnt make the information evaporate..
thats not how reality works

maybe just take a look, give it a try. find the answer for yourself, done hide from information and then cry about the person that spoonfed it.

actually try to find information.. im only providing it because you seem reluctant to do the research.


..
now here is the difference between bitcoin and ethereum

once locked into a portfolio(pool) of ether stake. that eth2 right now is not withdrawable..
meaning right coinbase companies do own that stake of many of the lists of "accounts" you pretend are all decentralised.
its not like people can just 'pool jump' in 23 seconds..

yet on bitcoin. people own asics and can and do pool jump.
as do many of the pools have many node.

i know you want to say that after the merge it will be withdrawable and suddenly everyone holding their small 0.x eth2 'apr interest yield reward(4% of 1 eth is 0.0x)' can stake that independently..
however right now the min threshold just to get stake voting rights is 32 eth2.
so they cant "solo" stake.. instead they will pool it..
and guess who has the main portfolio of all the pools...

and just like when bitcoin started pooling in 2012-3 raising the "difficulty" which killed off solo mining. the ether pooling of stake will raise the min vote threshold to kill off 'solo' signing/voting

enjoy.

but dont reply so quick.
take some time to really look, research and think. because maybe i have (said things purposefully to make it seem like i..) left out things (to bait you into another hole).
so think about what bits you are missing in your research of your adoration of ethereum.. look beneath the obvious, actualy get to the detail.. and prepare a better response. because i might already have the next rebuttal already prepared knowing exactly what your probably going to fall into as your next unresearched reply. so please do some research.  think beyond just the emotional instantly hit the reply button to try to win thinking i missed out something.... and instead think what you might be missing and why i didnt spoonfeed you all the answers.
i know you dont like to be spoonfed or you do like it but hate to be proven wrong with a spoon. so i have multiple times now given you a rope to either grab onto and climb out of your hole. or . as seen it seems try to hang yourself with. so give it another try. realise that your assumptions, and realise your assumptions are in a  bias camp hole you dug in wanting eth in your mind to be seen by you as better. and realise how weak it actually is in comparison to bitcoin, enlighten yourself. be actually able to tell yourself you are willing to learn and willing to compromise in the fact that your favoured networks are not as strong as you thought they were..

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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July 03, 2022, 08:21:20 PM
Merited by DaveF (2)
 #27

Apparently the claims of this paper are mostly false and/or misleading. The debunk is done in the link I posted above. The work is done. You people could at least read it instead of trying to reinvent the wheel. It's already invented in the sense that someone already did the job of debunking that paper! Peace out and chill! Smiley

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