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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1808107 times)
jgarzik
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September 16, 2014, 03:20:27 AM
 #12101

explain this to me so that i understand how the determinism is built.

is each accepted commit or addition to the source code hashed first followed by a hash of the entire new source code in essence creating a chain of hashes much like the blockchain?  then the final source code is pgp signed by the private key of each trusted builder?

Simplified example:

Step 1: Similar to the blockchain, git records the hash of the latest commit... and a commit includes the hash(es) of previous commits.  That creates a chain of hashes for the source code.

Step 2: Given the git commit id (a hash), obtain a source code tree.

Step 3: Compile the source code, resulting in one or more binaries (bytecode output, in Java's case).

Step 4: Hash the binaries

Step 5: Post a PGP-signed message containing the hash from step #4.

Just like in biology or chemistry, it is critical that the above process is independently reproducible and yields the same result every time.

If multiple developers perform these steps, and all result in the same hashes in step #4, then you eliminate a Man-In-The-Middle attack where an evil developer or evil malware may insert a backdoor not present in the source code, but present in the binaries that users download and trust with real money.

Finally, at any time, any outside developer may independently reproduce this process, proving that the dev team is not inserting backdoors etc.

Deterministic builds are critical for any software you trust with money.

This is how Bitcoin Core handles every release.  Multiple developers must achieve the same compiled result, or no release happens.  We use https://gitian.org/ to assist with this.

Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
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cypherdoc
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September 16, 2014, 03:49:44 AM
 #12102

explain this to me so that i understand how the determinism is built.

is each accepted commit or addition to the source code hashed first followed by a hash of the entire new source code in essence creating a chain of hashes much like the blockchain?  then the final source code is pgp signed by the private key of each trusted builder?

Simplified example:

Step 1: Well, just like blockchain, git records the hash of the latest commit... and a commit records the hash(es) of previous commits.  That creates a chain of hashes for the source code.

Step 2: Given the git commit id (a hash), obtain a source code tree.

Step 3: Compile the source code, resulting in one or more binaries (bytecode output, in Java's case).

Step 4: Hash the binaries

Step 5: Post a PGP-signed message containing the hash from step #4.

Just like in biology or chemistry, it is critical that the above process is independently reproducible and yields the same result every time.

If multiple developers perform these steps, and all result in the same hashes in step #4, then you eliminate a Man-In-The-Middle attack where an evil developer or evil malware may insert a backdoor not present in the source code, but present in the binaries that users download and trust with real money.

Finally, at any time, any outside developer may independently reproduce this process, proving that the dev team is not inserting backdoors etc.

Deterministic builds are critical for any software you trust with money.

This is how Bitcoin Core handles every release.  Multiple developers must achieve the same compiled result, or no release happens.  We use https://gitian.org/ to assist with this.


thanks for the explanation.

keep up the great work.  we're lucky to have you.
aljunking
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September 16, 2014, 04:01:51 AM
 #12103

Are you sure that bitcoin "UP" bitcoin is still down right now. Smiley
cypherdoc
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September 16, 2014, 04:06:01 AM
 #12104

Are you sure that bitcoin "UP" bitcoin is still down right now. Smiley

we're getting close to the end of this prolonged correction.  volatility is damping down and several of the large ask walls have been wiped out by buyers or short coverers (which is just as good).  my guess is that we'll break up hard somewhere along here.  we'll see.
cypherdoc
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September 16, 2014, 04:15:43 AM
 #12105

it's not uncommon to retest the broken support level from the underside that is now resistance:

sidhujag
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September 16, 2014, 04:38:23 AM
 #12106

There is no way id buy gold here.. need a bullish engulf to end a downtrend.

We probably go below 1181 since there was a fake uptrend that we see is broken now. No engulf no good.

Should test 1310ish before the slide
cypherdoc
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September 16, 2014, 04:59:10 AM
 #12107

Paging Carlton Banks!

just saw you on Dance With The Stars!  lookin' gud!  best dance of the nite!

yeah baby!
devphp
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September 16, 2014, 05:07:03 AM
 #12108

"Anyone can compile" is irrelevant.  What is relevant is that you can prove the release team binaries match the source code exactly.

At least now we all agree there is source code, that's a good start Smiley

Fiat is not the enemy.

Bad money is the enemy.

In terms of its trust model PoS is more similar to fiat money than it is similar to Bitcoin.

In terms of 99.99999% of the population it's irrelevant, they have to buy it, doesn't matter if it's PoW or PoS.
And you're right, it's not fiat that is the enemy, it's uncontrolled money printing that is the enemy. Well, both PoW and PoS models have that under control. And because most of the population can't be miners and have to buy it, they don't care how exactly that crypto is produced.
justusranvier
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September 16, 2014, 05:19:37 AM
 #12109

Well, both PoW and PoS models have that under control.
PoS is in no way comparable to PoW and it's misleading and deceptive to market as such.

https://download.wpsoftware.net/bitcoin/pos.pdf

PoS is the central bank/Federal Reserve system with a different set of masters. Fuck that.
devphp
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September 16, 2014, 05:23:23 AM
 #12110

Well, both PoW and PoS models have that under control.
PoS is in no way comparable to PoW and it's misleading and deceptive to market as such.

https://download.wpsoftware.net/bitcoin/pos.pdf

PoS is the central bank/Federal Reserve system with a different set of masters. Fuck that.

We don't need to discuss that masters of Bitcoin are two-three biggest mining pools, do we? While in NXT over 300 individual accounts successfully generate blocks. Well, who is more centralized?

99.9999% of the population don't care which crypto they'd buy and which algo it runs on. Prime example of this is Dogecoin users. Exactly, they say 'fuck that' to expensive Bitcoin and use their own coin, and their community is large, check reddit.
cypherdoc
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September 16, 2014, 05:25:42 AM
 #12111

"Anyone can compile" is irrelevant.  What is relevant is that you can prove the release team binaries match the source code exactly.

At least now we all agree there is source code, that's a good start Smiley

Fiat is not the enemy.

Bad money is the enemy.

In terms of its trust model PoS is more similar to fiat money than it is similar to Bitcoin.

In terms of 99.99999% of the population it's irrelevant, they have to buy it, doesn't matter if it's PoW or PoS.
And you're right, it's not fiat that is the enemy, it's uncontrolled money printing that is the enemy. Well, both PoW and PoS models have that under control. And because most of the population can't be miners and have to buy it, they don't care how exactly that crypto is produced.

You're attempting to equate POW & POS by saying they are both just code.

Wrong. POW involves a huge network of miners that have paid blood, sweat, tears, and money to build and maintain.  You can't replace that.
justusranvier
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September 16, 2014, 05:27:26 AM
 #12112

We don't need to discuss that masters of Bitcoin are two-three biggest mining pools, do we? While in NXT over 300 individual accounts successfully generate blocks. Well, who is more centralized?
We don't, because it doesn't matter.

In a PoW system, if the three largest mining miners decide to misbehave it's at least possible in principle for somebody else to build out more hashing power and compete with them. The miners can not block competition via any other method than expending more real opportunity cost to do so.

In a PoS system, if the majority of the stakeholders decide to misbehave then the system is fucked. Stakeholders are insulated from competition because they only lose stake if they choose to sell their coins to their competitors.

In a PoW system, if a cartel forms it's an annoyance.

PoS systems are inherently designed to form and protect cartels.
devphp
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September 16, 2014, 05:28:27 AM
 #12113

You're attempting to equate POW & POS by saying they are both just code.

Wrong. POW involves a huge network of miners that have paid blood, sweat, tears, and money to build and maintain.  You can't replace that.

Paying blood, sweat, tears and money doesn't guarantee anything, much less profits. That is still irrelevant to how it'd look different in the eyes of population who are charged more for less, while they could pay less to get more. By getting more I mean a larger share of a different crypto currency that does just the same, and some of those do much more too.
devphp
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September 16, 2014, 05:30:54 AM
 #12114

We don't need to discuss that masters of Bitcoin are two-three biggest mining pools, do we? While in NXT over 300 individual accounts successfully generate blocks. Well, who is more centralized?
We don't, because it doesn't matter.

In a PoW system, if the three largest mining miners decide to misbehave it's at least possible in principle for somebody else to build out more hashing power and compete with them. The miners can not block competition via any other method than expending more real opportunity cost to do so.

In a PoS system, if the majority of the stakeholders decide to misbehave then the system is fucked. Stakeholders are insulated from competition because they only lose stake if they choose to sell their coins to their competitors.

In a PoW system, if a cartel forms it's an annoyance.

PoS systems are inherently designed to form and protect cartels.

It's hard to get 2 people to agree with each other. It's impossible to get a few hundred people to agree to collude especially when their financial future depends on proper functioning of the network. Try to get a few people to agree to shoot themselves in the foot, I'd like to see you do that Smiley
justusranvier
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September 16, 2014, 05:31:36 AM
 #12115

Try to get a few people to agree to shoot themselves in the foot, I'd like to see you do that Smiley
Have you been in a coma since 2007?
devphp
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September 16, 2014, 05:33:54 AM
 #12116

This conversation is meaningless. As always.
cypherdoc
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September 16, 2014, 05:35:30 AM
 #12117

Billions of NXT with 70 addresses distributed to a handful of investors in an IPO for a  measly 25 BTC. That's not fair.
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September 16, 2014, 05:37:38 AM
 #12118

Billions of NXT with 70 addresses distributed to a handful of investors in an IPO for a  measly 25 BTC. That's not fair.

Yeah, I feel your pain. I wasn't there either when they were doing the IPO. Well, the world moves on whether it's fair to us or not. It's not fair that I wasn't there mining Bitcoins in 2009-2013 either. Just like 99.999% other people.
LiQio
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September 16, 2014, 05:37:51 AM
 #12119

Billions of NXT with 70 addresses distributed to a handful of investors in an IPO for a  measly 25 BTC. That's not fair.

Hundred thousands of BTC distributed to a handful of early miners is?
smoothie
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September 16, 2014, 05:38:07 AM
 #12120

Why does it have to be us vs them? Why must the crypto space be so divided? I am not a "pos guy". I simply see some value and utility in a well designed system and want to share that with others, just as I do with bitcoin.

Fiat is the enemy here.
Fiat is not the enemy.

Bad money is the enemy.

In terms of its trust model PoS is more similar to fiat money than it is similar to Bitcoin.

Fiat money today = bad money.

Debt based. End of story.

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