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ymgve
Jan 2, 2004


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"US-based"

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ymgve
Jan 2, 2004


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totally unrelated, but the economics thing is actually a "nobel", including the quotes. Its full title is "Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel" which says pretty much everything about the legitimacy of the prize compared to real Nobel prizes and the criteria for getting one

ymgve
Jan 2, 2004


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transactions are actually cheap now, since the crash has deflated the hype quite a bit

still slow though

ymgve
Jan 2, 2004


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univbee posted:

Seriously, with a 4% return that's $68k a year and is equivalent to making more than $32 an hour. Admittedly you can't have a nonstop hookers and blow party, but you can live extremely comfortably on that. Hell if you're fine with just renting and being mobile, you can afford to rent something pretty respectable with that and even if it's not in an expensive city you'd rather be in, you would still have ample money to make regular trips to the city of your choice in the world and can certainly find the time in which to do so somewhere in the 40+ extra hours you'll have of free time over your loser friends who are working.

but where can you get a guaranteed 4% return these days

ymgve
Jan 2, 2004


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Alpha Mayo posted:

I was thinking about shorting everything long term on margin earlier with a couple thousand, then I realized that there's a significant chance thatmost of the exchanges are just gonna disappear when this is all over with so it becomes lose/lose. Much funner to just sit on the sidelines and not get poop all over my hands.

By holding USD or other normal currencies you're implicitly shorting Bitcoin. Don't touch the poop, even with gloves.

ymgve
Jan 2, 2004


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ilmucche posted:

There are also four bills going through the Wyoming State Legislature this legislative session to expand cryptocurrency's availability in Wyoming - including one that allows for the placement of state records (business licenses, property deeds, etc.) to be stored on the blockchain, instead of in file cabinets that live in the Secretary of State's office. That's the entire point of the blockchain! The price is something we all certainly watch, but cryptocurrency is more than a "get rich quick" vehicle, and that's why cryptocurrency is here to stay

Yes, the entire point of the blockchain. Which is related to bitcoin as a currency/store of value because

Bitcoiners sure makes it sound like intra-institutional document forgery is a more common problem that it seems.

It's as if they think every day, a dozen people go to the State office and find out that their house belongs to someone else because without ~blockchain~ no one guarded the integrity of the deeds.

ymgve
Jan 2, 2004


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anything on forbes.com/sites/ can be safely ignored as being a glorified blogpost

ymgve
Jan 2, 2004


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Risc1911 posted:

According to BitInfoCharts, a mysterious buyer with a Bitcoin address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased an astronomical amount of bitcoins worth $344,000,000 at a blended cost basis around $8,400 from 02-09-18 through 02-12-18. In total, this Bitcoin whale doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth somewhere around $900,000,000 at today’s price ($9,400).



What is equally interesting is that he has it all in one single address. Better keep that private key very safe.

Couldn't this just be an exchange moving coins into cold storage?

ymgve
Jan 2, 2004


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Funnily enough, Blizzard also hosed up and charged people multiple times some weeks ago. I also seem to remember they've hosed that up before, but couldn't find any references to it quickly because all news sites talk about the current gently caress-up.

ymgve
Jan 2, 2004


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comedyblissoption posted:

Basic cryptography explanation:

A cryptographic hash algorithm exists that can take some text and easily generate a "hash" which is a bunch of seemingly random characters out of the text. The cryptographic hash algorithm is designed such that you cannot easily determine the original text if you have the hash. The only practical way to retrieve the original text is to either:
  • already know the original text
  • guess a bunch of different possibilities at extreme or impossible expense
  • figure out some unforeseen exploit of the algorithm that makes it easier to figure out the original text

The cryptographic hash algorithm and original text can be tuned to control the difficulty of brute-forcing the hash back to the original word.

An example of this:
I can put the thread title text of:
code:
Bitcoin is at $6000. Nice,but, have you ever heard about my rear end?!
into the SHA512 hashing algorithm at https://passwordsgenerator.net/sha512-hash-generator/.

The hash of the text is:
code:
ED4E792A5A6FA47523E9AAE8EC6A2F5080059A59EEFB100D3102C15C5F9F7E389DCF7397A06B60AAB85BAFD5E791138303E096B2BCEE14DE63A2D45AFA6DC521
With that hash, your only choice to figure out the original text without knowing it is to try to guess at a bunch of different permutations of text. The difficulty is going to outlast the heat death of the universe though until we have quantum computers or some exploit of the SHA-512 algorithm.

This isn't how the Bitcoin proof-of-work is done however.

It's basically: you start with a text like "I am bitcoin block aaaaa, the previous block was bbbbb, and the transactions in this block has signature ccccc. Also, 0."

Then you do SHA256 on this text, and see if the resulting hash starts with "000000...." where the number of 0's at the start varies dynamically by difficulty. In this case, it totally fails as the SHA256 hash is "e97379f34431e23e435d3b195e8dcfa50df7b74179270399e82298e377f147db". So you try again and increase the number at the end (nonce).

"I am bitcoin block aaaaa, the previous block was bbbbb, and the transactions in this block has signature ccccc. Also, 1." - nope, the hash here is "7e48ca29140ecb109a3089a8448cd0fd05b35f9b099188c59b6ac8671ad274e4".

Then you continue increasing the number at the end, and finally.
"I am bitcoin block aaaaa, the previous block was bbbbb, and the transactions in this block has signature ccccc. Also, 11182491." - hash is "0000004d062540d54eeb82b3e13b52ad1822a01f61a1c6a16697ff45b01cca4b" - wow, six zeroes! That's enough to meet this arbitrary example's target! Now you send the block into the network and you "win", and the whole network moves on to hashing the next block.

It has nothing to do with "reversing" hashing, you always know the plaintext, you are only interested in finding SHA256 hashes which fit a specific format.

(Yes, this isn't the exact process, but close enough for example work)

ymgve
Jan 2, 2004


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Khorne posted:

https://twitter.com/777crypto777/status/971893559124258816

That guy is pretty upset. So is this one:
https://twitter.com/neetcoiner/status/971429731454410752

What is that even supposed to mean? People with lots of BTC will realize it's worthless and cash out too? Otherwise, it's the most impotent threat I've ever seen.

they can pay the darknet hitmen that are totally real and not FBI agents and/or scammers to kill the tux

ymgve
Jan 2, 2004


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ephex posted:

apparently it was just a pr stunt, website is back up

or maybe that's the actual stunt - putting the site back up so he will have a few more days to lose the totally legit dark web hitmen

ymgve
Jan 2, 2004


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Kobayashi posted:

A recruiter just contacted me about working for Ripple. Lol.

Do it

Destroy it from the inside

ymgve
Jan 2, 2004


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No, people can not steal your wallet money with a 51% attack. They can, however, send someone money and get goods/other coins in exchange, then say “oh I actually sent those coins to myself, not you” and the network will believe them.

(They can technically steal your money by changing the network rules and creating a hardfork, but that would be much more obvious to everyone, and they would need to convince an exchange to switch to the fork - if not, they are stuck with your coins on a fork no one but them use, and you still have your coins on the original chain)

ymgve
Jan 2, 2004


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Who What Now posted:

There's a lot of animes that much not be named, you're gonna need to name it

It starts with D and ends with Ragon Ball

ymgve
Jan 2, 2004


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To ask the question AARO should have asked - have there been any police busts where they shut down sites that openly sold child porn? All of the shutdowns I know about were either marketplaces that were focused on drugs and did not allow child porn (Silk Road, Agora, Evolution etc), or sites where pedophiles swapped porn for free.

ymgve
Jan 2, 2004


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some of those steps are unneccessary tho

1. buy a few coins of syscoin on binance, on your own account
2. put those coins up for sale at a price of 96 BTC, on your own account
3. hack binance API
4. use API to buy shitcoins for 96 BTC with other peoples BTC
5. the BTC is now in your account after the sale, transfer out

theres no need for the attacker to touch the syscoin blockchain at all

ymgve
Jan 2, 2004


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mojo1701a posted:

So BCH is the Verified one?


Also how many forks are there at this point?

I'm glad you asked!

ymgve
Jan 2, 2004


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a hot gujju bhabhi posted:

Do I understand this correctly: if you have > 50% of the mining power you can have a wallet with, for example $1000, then send that $1000 to another wallet multiple times such that the destination wallet ends up with several thousand dollars? Or only twice? Not clear on the whole > 50% attack and how it works.

It works by for example first buying a lambo for bitcoin - placing "here's 100 BTC sent to address X which is the lambo dealership" on the weak chain, but then after you drive off in your new car you have enough mining power to create a stronger chain where you say "here's 100 BTC sent to address Y which is still mine" and suddenly the lambo dealership gave you a car for bitcoins they no longer have

you don't duplicate anything, you're just doing takebacksies even though one of the touted advantages of bitcoin is "NO takebacksies!"

ymgve
Jan 2, 2004


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klafbang posted:

The good things about bitcoin is that there can be at most 21M pedos on the blockchain at a time.

That's a common misconception, each pedo is divisible up to 8 decimals and a protocol change can be enacted if there is a need for more pedos

ymgve
Jan 2, 2004


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Coinbase did gently caress all, what «saved» bitcoin was the price crash which killed the hype

ymgve
Jan 2, 2004


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Once the price of Bitcoin falls below the level where it's profitable to mine, there will probably be a change to the core that switches to a different algorithm or something. Nothing in Bitcoin is unchangeable, the main devs just have to have most of the miners on board with the changes.

Price will still fall, but at least it won't be as wasteful with resources then, I guess.

ymgve
Jan 2, 2004


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Adar posted:

bitcoin's community is so insane even by crypto standards that any major change to the protocol is politically impossible to make and will result in a fork that has no popular support. the protocol that is out there in 2018 is the one that is locked in for the foreseeable future.

meh, they added segwit last year after all, and only like 25% of their userbase switched to the non-segwit fork

ymgve
Jan 2, 2004


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twitter's fundamentals are strengthening, just look at the number of new users during 2016!

ymgve
Jan 2, 2004


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I thought Icke was the «no, when I say lizards I mean actual lizards from Alpha Centauri» dude

ymgve
Jan 2, 2004


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To be fair, those buy walls could be real, but once someone sees it getting close to their wall, the logical thing is to move it lower to get cheaper coins.

ymgve
Jan 2, 2004


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Mcafee is a wimp

https://twitter.com/officialmcafee/status/1071395711244267525?lang=en

ymgve
Jan 2, 2004


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Powershift posted:

surprised we haven't seen a fork called master bitcoin

there is a mastercoin, close enough

ymgve
Jan 2, 2004


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I’ve always been sceptical of the «used to fund terror» angle - normal people have enough trouble finding places to spend their coins and/or convert it into fiat, I assume trying to buy bomb materials in some middle east country with butts is 100x harder.

ymgve
Jan 2, 2004


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Haha, you think there are implementations?

edit: to make it less snarky - https://www.theregister.co.uk/2018/11/30/blockchain_study_finds_0_per_cent_success_rate

ymgve fucked around with this message at 14:51 on Jan 23, 2019

ymgve
Jan 2, 2004


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Is the metal actually worth enough for the effort it takes to gather the pennies?

ymgve
Jan 2, 2004


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I'm thinking more about how hard it is to gather pre-1982 pennies. I assume you can't just go to the bank with thousands of dollars and demand all the cents they have.

ymgve
Jan 2, 2004


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But who is willing to sell bitcoin for bolivars?

ymgve
Jan 2, 2004


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let it mellow posted:

Cool, bitcoin is now going over unencrypted and easily falsified transmissions, excellent work

To be fair, the same could be said about internet connections in general. Bitcoin/Lightning uses digital signing to ensure only a person with access to the wallet keys can create a transaction.

ymgve
Jan 2, 2004


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Satchel and Trunk posted:

The “technicality” is that he says he can “outsource” the job of eating the dick. As in force some poor person he has hooked on his cat drugs to cut off their own dick and eat it in front of him.

No, he's not that vile.

His technicality is that he never said he would cut it off, and is outsourcing the "eating" of his dick to some prostitutes.

ymgve
Jan 2, 2004


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is pepsi ok posted:

Please let today be the day that thousands of people are forced to realize that they are holding on to itchy and scratchy bucks

if they didnt realize it one year ago, they will never realize it

ymgve
Jan 2, 2004


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The thing I was thinking about re: bill scanning wasn't drugs, but that they might also sell this scanning service to stores so they can tell with some confidence which individuals are their customers.

ymgve
Jan 2, 2004


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Barudak posted:

In the US point of sale data, card data, and membership data is all available for sale at the right price

I mean, sure, if someone uses a card when buying stuff. But if someone uses cash without a membership card, they don't know who that person is. Unless they know which bank account that bill came from, which is what the ATM withdrawal scanning fixes.

ymgve
Jan 2, 2004


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MrUnderbridge posted:

Stores don't scan bills. The bills go in the tray, and come back out. Unscanned. Do you never shop retail? Have you ever seen a cashier record a serial number? The 20 one guy spends might go right back to the very next customer in change for a larger bill or if they want cash back from a debit card. Unless each and every bill is checked at each and every transaction, coming and going, everywhere, every time, there are too many gaps to track individual bills.

Stores have much easier ways to track who buys what - loyalty cards. You wave your Kroger card to save 75 cents on your bologna and that goes into their database, along with everything else you buy from them. Then they know what coupons to spit out at the register - they know what you are likely to buy. Even then, the loyalty card is only linked to whatever they ask for: usually phone number or email. They only really care what customer loyalty account 674523B spends their money on, they don't care if it's Herman Turdmeister or Carl Mark Force IV (esq.).

And stores don't identify customers who use cash, so how would they know who spent it? Do you get ID'd when you use cash at a store? It would be more likely (and a fuckton easier) to use facial recognition to ID somebody than to try to track serial numbers on cash.

But since most people today use either credit or debit cards, or tap their phone to pay, the identification is right there. Why waste time and money on a tracking system for what is a rapidly disappearing way of doing transactions?

Not sure how it's in the US, but around there there is a trend that there's no actual money drawer - instead a machine that takes in bills and coins, then delivers out exact change. Primarily as an anti-theft measure (against both robbers and unfaithful employees), but it would be easy to add a serial number scanning feature when the bills have to be scanned for their denomination anyway.

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ymgve
Jan 2, 2004


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Bitcoiner definition of a scam site: a site that takes 10% of your money instead of taking it all

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