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I Am Not Satoshi Nakamoto

schneier.com

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Re: I Am Not Satoshi Nakamoto

#141

Post by anamax »

emtel wrote: post #66
na85 wrote: post #24

Earlier quoted context omitted.

>For it to be used as regular currency you have to have price stability. No one wants to go to the grocery store and find out that they lost 10% of their budget on the walk over. Not only that but Bitcoin or whatever shitcoin becomes the next big thing need to scale up the network's ability to handle transactions. Payment processors like Visa handle something like 400x more transactions per unit time than Bitcoin.

This is apples to oranges. A Bitcoin transaction is a settlement, much more akin to fed wire than visa. Visa transactions are not settlements.

Visa does do something equivalent to settlements. Even if that is just at monthly granularity (statements to card holders), the volume is immense.

Re: I Am Not Satoshi Nakamoto

#142

Post by lsiq »

judge2020 wrote: post #75
lsiq wrote: post #68

Earlier quoted context omitted.

The likes of Paypal locks your funds without explanation or appeal. And the likes of HSBC launder money with impunity. (BUT BUT KYC/AML!) But hey, let's continue trusting self interested people who don't care about you to "do the right thing" and protect your funds.

Thanks to KYC, HSBC is in the news, and the real evidence provided by KYC about their transactions makes light of evidence to actually enforce a fine for allowing the money laundering operations. If it were crypto it just wouldn't ever be found out.

Amazing you actually believe that. Have you considered what doesn't make it to the news, and also what gets explicitly omitted from the news?

Do you even know that FATF is the main organization that goes around imposing KYC/AML?

And they are a non-governmental body, no oversight - don't answer to anybody.

They are literally Luca Brasi and you don't even know who the Don Corleones behind the curtain are.

Re: I Am Not Satoshi Nakamoto

#143

Post by anamax »

tyre wrote: post #14
spurgu wrote: post #9

Quickly skimming through the Wired piece, am I weird for not being that uncomfortable with companies like Coinbase managing your crypto? Or Namebase.io managing Handshake domains? Most people don't care about self-hosting/self-managing their stuff and just want something that works and is easy to use. With both of these (Bitcoin & HNS) you can still have 100% control over it if you choose to. So what if 90% of people…

This is the whole thing with crypto. The only benefits thus far that have come to widespread fruition are illicit purchases and speculation. For it to be broadly accepted, it has to lose the rest. Anonymity? People are unsurprisingly very in favor of KYC so we can apply anti–money laundering and terrorism laws. For it to be trusted you have to insure deposits. Those fly-by-night exchanges going poof with everyone's c…

> Anonymity? People are unsurprisingly very in favor of KYC so we can apply anti–money laundering and terrorism laws.

That's true until KYC starts being use for "social credit" purposes.

Yes, money-laundering and terrorism are important but human nature being what it is, govts can't resist the temptation. In fact, one might reasonably argue that temptation is the point for folks who get into govt.

See also child-porn and drugs.

Re: I Am Not Satoshi Nakamoto

#144

Post by tdeck »

na85 wrote: post #134
emtel wrote: post #66

Earlier quoted context omitted.

This is apples to oranges. A Bitcoin transaction is a settlement, much more akin to fed wire than visa. Visa transactions are not settlements.

This is moving the goalposts. Bitcoin fanboys love to talk about the future where you can buy groceries and order pizza with btc. Do you typically use a bank wire for those transactions? I don't.

That was the original generation of Bitcoin enthusiasts, but nowadays it feels like you're more likely to find fanboys who see it as a get-rich-quick scheme where the line can only go up.

Re: I Am Not Satoshi Nakamoto

#145

Post by dudus »

tyre wrote: post #14
spurgu wrote: post #9

Quickly skimming through the Wired piece, am I weird for not being that uncomfortable with companies like Coinbase managing your crypto? Or Namebase.io managing Handshake domains? Most people don't care about self-hosting/self-managing their stuff and just want something that works and is easy to use. With both of these (Bitcoin & HNS) you can still have 100% control over it if you choose to. So what if 90% of people…

This is the whole thing with crypto. The only benefits thus far that have come to widespread fruition are illicit purchases and speculation. For it to be broadly accepted, it has to lose the rest. Anonymity? People are unsurprisingly very in favor of KYC so we can apply anti–money laundering and terrorism laws. For it to be trusted you have to insure deposits. Those fly-by-night exchanges going poof with everyone's c…

Just wow.

This is the first time I'm actually going to favorite a comment on HN.

Best-written crypto critic I've ever read

Re: I Am Not Satoshi Nakamoto

#146

Post by john_alan »

tptacek wrote: post #95
SavantIdiot wrote: post #82

Earlier quoted context omitted.

Not quite: he doesn't trust the constants . That's a big difference. He believes based on reading secret Snowden papers that the NSA has manipulated them via relationships with the industry. There are other curves that are NOT from NIST, like C25519, that are popular. In fact, the twisted edwards curve computation variant is also growing, which isn't the "traditional" (does that even make sense?) elliptic curve. Now…

My feeling is that I could back up both of these statements; the one you made, but also the one I made. He was saying these things before Snowden. And: again, just look at what he's published. He's not Satoshi. (The NIST P-curves aren't backdoored.)

> The NIST P-curves aren't backdoored

How can you assert this?

Can you explain the coefficient choices?

Re: I Am Not Satoshi Nakamoto

#147

Post by monkeyfacebag »

cyphertruck wrote: post #127
theparanoid wrote: post #3

Earlier quoted context omitted.

Bruce linked to his own opinion piece in Wired.

That’s much worse. A shame he has proven to be corrupt, not even able to be honest in criticizing bitcoin.

In fact it’s not worse at all. I guess when your attack on WIRED failed, you needed to find another target, huh?

Re: I Am Not Satoshi Nakamoto

#148

Post by joseluis »

this will become more obvious as time passes, specially after November, but for whomever is ready now to explore beyond the intoxicating veil of pervasive propaganda and censorship in the space, this article will prove itself useful for connecting crucial pieces of information and perspectives that can tear apart many preconceptions and falsehoods: https://www.linkedin.com/pulse/why-i-believe-craig-wright-mo...

Re: I Am Not Satoshi Nakamoto

#149

Post by narrator »

tyre wrote: post #14
spurgu wrote: post #9

Quickly skimming through the Wired piece, am I weird for not being that uncomfortable with companies like Coinbase managing your crypto? Or Namebase.io managing Handshake domains? Most people don't care about self-hosting/self-managing their stuff and just want something that works and is easy to use. With both of these (Bitcoin & HNS) you can still have 100% control over it if you choose to. So what if 90% of people…

This is the whole thing with crypto. The only benefits thus far that have come to widespread fruition are illicit purchases and speculation. For it to be broadly accepted, it has to lose the rest. Anonymity? People are unsurprisingly very in favor of KYC so we can apply anti–money laundering and terrorism laws. For it to be trusted you have to insure deposits. Those fly-by-night exchanges going poof with everyone's c…

Getting money out of China has been a major use for crypto. Rich people in China are very nervous and will jump through all sorts of crazy hoops to set up a nest egg overseas.

Re: I Am Not Satoshi Nakamoto

#150

Post by MikeDelta »

tyre wrote: post #14
spurgu wrote: post #9

Quickly skimming through the Wired piece, am I weird for not being that uncomfortable with companies like Coinbase managing your crypto? Or Namebase.io managing Handshake domains? Most people don't care about self-hosting/self-managing their stuff and just want something that works and is easy to use. With both of these (Bitcoin & HNS) you can still have 100% control over it if you choose to. So what if 90% of people…

This is the whole thing with crypto. The only benefits thus far that have come to widespread fruition are illicit purchases and speculation. For it to be broadly accepted, it has to lose the rest. Anonymity? People are unsurprisingly very in favor of KYC so we can apply anti–money laundering and terrorism laws. For it to be trusted you have to insure deposits. Those fly-by-night exchanges going poof with everyone's c…

Plenty of paper millionaires out there who lost the password to their wallet, see [0] for an example, and will likely never cash out.

[0] www.fool.com/amp/investing/2021/06/18/the-man-who-lost-265-million/

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