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Showing 20 of 54 results by bitcoinbeliever
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Board Announcements (Altcoins)
Re: [ANN] chain2 -- Pure SHA256 PoW coin | Real-Time Targeting
by
bitcoinbeliever
on 14/10/2019, 01:29:41 UTC
RTT difficulty ajustment make it really difficult to mine, its very interesting  Smiley

Looks easy for you, getting all the blocks now  Wink

Difficulty up to the millions, block 26, average blocktime 555 seconds!
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Topic
Board Announcements (Altcoins)
Re: [ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.
by
bitcoinbeliever
on 28/09/2019, 13:38:30 UTC

This coin is very similar to Beam. The same technology, often their price should be synchronous. Beam is already on Binance. Not waiting, but preparing. Wink
[/quote]

Which  do you prefer, beam or grin?
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Board Development & Technical Discussion
Re: WTF is this? Someone found a trick for fast mining?
by
bitcoinbeliever
on 09/05/2015, 22:39:49 UTC
No many people read my blog, so nothing I say is "far-reaching" Smiley

More should read your blog Sergio, original thinking deserves a loud voice.  At least post the link next time!  I'll do it for you this time...

https://bitslog.wordpress.com/
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Topic
Board Development & Technical Discussion
Re: WTF is this? Someone found a trick for fast mining
by
bitcoinbeliever
on 03/05/2015, 21:15:10 UTC
A node of mine received these blocks at the following times

2015-05-02 12:29:45 height=354640

2015-05-02 13:06:01 height=354641
2015-05-02 13:09:46 height=354642
2015-05-02 13:12:59 height=354643
2015-05-02 13:17:45 height=354644

meh.
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Topic
Board Development & Technical Discussion
Re: Individual Block Difficulty Based on Block Size
by
bitcoinbeliever
on 16/02/2015, 07:52:04 UTC
They can only influence users' expectations of required fees in proportion to their hashrate, which you specified was small.
Only if block sizes are limited. If they are unlimited even a tiny portion of the hashrate can continually clear the market at effectively no cost to themselves, thats the whole point of this post-- creating a cost for doing so.

The size of the portion must matter since an even tinier portion could still mine all the free txes at 3x difficulty, but that much less frequently. 

This is a challenge for the distant future, if ever. It seems pretty likely the value of the currency at the next halving will be at least double its value at the last halving (which was only 12 USD), with 3 more doublings already provided for at today's price.
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Topic
Board Development & Technical Discussion
Re: Individual Block Difficulty Based on Block Size
by
bitcoinbeliever
on 15/02/2015, 23:07:49 UTC
A small minority of miners could impose a situation where all transactions are mined, even no-fee transactions.

No, they can't.  They can only influence users' expectations of required fees in proportion to their hashrate, which you specified was small.
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Topic
Board Bitcoin Discussion
Re: Permanently keeping the 1MB (anti-spam) restriction is a great idea ...
by
bitcoinbeliever
on 05/02/2015, 23:20:13 UTC
D&T, I agree with most everything you wrote, many thanks for the interesting research and composition effort.
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Topic
Board Development & Technical Discussion
Re: AttackerSuccessProbability(0.3,1)=0.627749
by
bitcoinbeliever
on 31/10/2014, 14:42:10 UTC
So the problem with my interpretation is that I was not considering that the attacker could catchup after an infinite number of steps/time...

After an infinite number of steps, an attacker with < 50% is guaranteed to be behind.

Satoshi calculates the probability that attacker ever gets ahead, at any point, since that is long enough to double spend.

You could say a "lucky streak" of some length is required at some point but in fact the success pattern could be arbitrarily complex (with arbitrarily low probability of any particular pattern occurring).

To simulate the process, you could use a recursive function.
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Board Bitcoin Discussion
Re: Bitcoin Core 0.9.3 has been released
by
bitcoinbeliever
on 27/09/2014, 17:19:59 UTC
Thanks to wumpus and everyone who contributed!

 Cool
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Topic
Board Development & Technical Discussion
Re: Help me relay a double-spend transaction
by
bitcoinbeliever
on 14/09/2014, 19:36:54 UTC

That site doesn't help author double-spends, but it will relay them, which OP originally asked for although he really wanted a friendly miner.

The site also has a record of the spends seen earlier (unlike blockchain)

http://respends.thinlink.com/tx/f34a12f0c153055ef8d9ca4c917861de9130651495c21b9eba792050a07bfa71
First seen in a block 12d after earlier tx 3d58d4417ce83003553c23c3c97cd942a6da8506864aa14af8dc963d618c1f9a

http://respends.thinlink.com/tx/604ff6cb6b605420139adfbf91fd31266cdafcb7ccd163cfbdbdf5a4fa7a1881
Seen on network 16h after earlier tx 333f27b77bea035e7e9a7a2551f55e395410945ebdc24d5c145b0cab0009d1cd.  Then confirmed.
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Board Development & Technical Discussion
Re: Faster bitcoin transaction times
by
bitcoinbeliever
on 28/08/2014, 03:23:42 UTC
The idea that third-party solutions will fix 0-conf... it completely throws the baby out with the bathwater.  Sure, it could work -- Visa works.

But it would no longer be bitcoin.  It would no longer be a global peer-to-peer currency.

There is a third option, aside from third party involvement and shorter block times.  The third option is innovation in the bitcoin consensus system itself.  Economic incentives keep miners following the rules today.  It may be possible to add incentives that lead to 0-conf transactions being very reliable in practice, on a time scale much shorter than 10 minutes.
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Board Bitcoin Discussion
Re: Question about how miners treat unconfirmed double spend transactions
by
bitcoinbeliever
on 28/08/2014, 02:43:09 UTC
If you would define a double spend as a TX in which the same input(s) are part of a transaction that would prevent a separate, previously propagated TX that someone though was going to be confirmed, then this is very much possible.

0-conf respend attempts happen every day.  As was mentioned, the network actually tries to keep as nodes from seeing both.  This site tracks the ones it sees though: http://respends.thinlink.com
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Board Service Discussion
Re: Do Bitcoin exchanges allow market makers to short sell?
by
bitcoinbeliever
on 15/08/2014, 00:08:15 UTC
Short selling does help reduce the amount of large price gains that are not supported by the fundamentals (and will eventually lead to a crash). If the prices does not rise too fast and does not crash then more people will want to start using bitcoin over time that will lead to greater long term prices.

Any time you don't have the keys, you are trusting those who do.  I can't believe I have to remind anyone here about that.

Access to depositors' coins give market manipulators LEVERAGE.
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Topic
Board Service Discussion
Re: Do Bitcoin exchanges allow market makers to short sell?
by
bitcoinbeliever
on 14/08/2014, 23:57:20 UTC
It's simple folks. 

If you're concerned about naked short-selling, and short-selling in general causing price declines, do yourself and the rest of the community a favor.

TRANSFER your BTC to a wallet where only YOU have the keys.

Then they can't be lent to anybody.
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Topic
Board Development & Technical Discussion
Re: Small fee transactions + shops which trust 0 confirmations
by
bitcoinbeliever
on 29/07/2014, 01:12:53 UTC
Your successful double-spend shows up on this site that tracks them:

http://respends.thinlink.com

It's true that double-spending a 0-conf tx is easier than most people think, and it's true that you should be very careful *ever* trusting a payment with no confirmations.

The weird thing is the idea that no effort should be made to improve the situation, or at least let the victims know sooner.  The reason that comes up is "it won't work 100%, so don't even try."
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Topic
Board Marketplace
Re: Double-spend insurance for 0-conf transactions?
by
bitcoinbeliever
on 25/07/2014, 04:28:45 UTC
Not a bad idea, but the bitcoin network is working against you.  It silently buries all evidence of double-spend attempts.  Here is data from one node that publishes the re-spend attempts that it sees though.

http://respends.thinlink.com

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Topic
Board Bitcoin Discussion
Re: Very severe blow to bitcoin
by
bitcoinbeliever
on 24/07/2014, 05:20:49 UTC
I am starting to wonder why there's a Bitcoin Foundation at all. I haven't heard them doing anything other than participating in drama. I write Bitcoin news regularly and ... the Foundation doesn't appear all that often in my research. Plus, the one time I contacted them I got nothing. I see more Bitcoin advocacy and evangelism from Bitpay and Coinbase.

They pay Gavin.  That's reason enough to exist.
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Topic
Board Development & Technical Discussion
Re: Ok, but seriously how will I pay for my $250 grocery bill with bitcoin?
by
bitcoinbeliever
on 16/06/2014, 01:00:48 UTC
What about the concept of detecting double spends in bitcoin nodes and notifying merchant? ... If no second transaction is seen in 10 seconds it is considered 'safe'.
It would help further if nodes that detected double-spends either relayed them, or, better, relayed an alert that a double-spend was being attempted.

Good questions.  Everyone sees that the decentralized bitcoin system can't have complete, immediate protection from the effects of 0-conf double-spends, but that is totally different from saying that the situation cannot be improved immensely.  Some improvements that can be made are:

1 - Agree that 0-conf double spends should be made more difficult, not easier (there are actually people who disagree).
2 - Per inner quote above, wallets should immediately and loudly notify their users of double-spends.  Amazingly, I am not aware of a single wallet that does this!  Please post if I am missing one or more.  The reason you notify the user is that they may not yet have handed over the merchandise.
3 - Per outer quote above, the network should relay, and not drop, double-spends.  This makes #2 above much more effective.  The actual double-spend transaction is the best alert, because it is signed by the person double-spending.  Anything else would require a trusted 3rd party.
5 - Longer-term, before giving up on the bitcoin protocol, we should ask how to incentivize miners NOT to include second-spends in blocks.  For example, I have never seen a reason why this idea from 2011 could not reduce the unsafe period for 0-conf double spends to only seconds, instead of many minutes https://bitcointalk.org/index.php?topic=3441.msg48484#msg48484

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Topic
Board Altcoin Discussion
Re: [ANNOUNCE] Bitcoin Cooperative Proof-of-Stake - CPoS
by
bitcoinbeliever
on 22/05/2014, 15:51:07 UTC
I do not understand the irony.

You are endeavoring to reinvent money.  Money is not an enterprise.  There is no general name for what it actually is, but as just one of its many functions, it mediates interactions between ALL enterprises.  Therefore the solution needs to be far beyond enterprise-class, and far beyond sovereign-class.

Your plan is to explicitly co-opt bitcoin via a blockchain fork, using by your own words, rhetorical as they may be, only a large accumulation of (fiat) money as the tool.  You imply that the global cryptocurrency franchise is something that can be bought.  That is an uninspired enterprise-level business plan.  If it actually worked, you'd better watch out for the next guy's fork.  He might have an even bigger pile of fiat.

Have you considered that even fiat money issuers do not go so far as to pay dividends on cash?

As world-class institutions I offer 2 examples. One is the adversarial legal system.  Is presuming people innocent of criminal charges the most cost-effective approach?  Well, no, but only the adversarial system, where the state must confront and defeat every hare-brained defense, repeatedly ad nauseum, has left society feeling the remotest tinge of justice.

The adversarial system is also what works in nature.  In the open ocean, every creature has to ruthlessly protect and defend its genome.  There is almost no trust across genomes.  And yet, a beautiful, balanced ecosystem emerges.

In this context, I think you underestimate the design of the mining function.

Your project will have its chance in the wild, and I will be disappointed in the universe if you succeed.

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Topic
Board Altcoin Discussion
Re: [ANNOUNCE] Bitcoin Cooperative Proof-of-Stake - CPoS
by
bitcoinbeliever
on 22/05/2014, 02:57:20 UTC
Enterprise class servers and networks are a solved problem. All it takes is money.

I don't think you quite appreciate the irony of that statement.