71–80 of 218 posts
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Enjoyment. Some people just like to watch the world burn.
That's a very quotable statement, and it is indeed true -- some people are intelligent and sociopathic enough that they care about their own amusement more than anything else. But sadism is very rare, in reality. Most robbers don't give the rubies they steal to the village children. Most galloping animals with four hooves are horses, not zebras.
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It is a non issue, honestly. This issue was known about as early as 2011. You can only modify non-essential pieces of the transaction, but it does change the overall transaction hash. These poorly coded exchanges were looking for an exact hash match to pop up on the block chain, instead of looking for the deposit/address. The actual security of the system is not really impacted at all, and the core Bitcoin clients co…
> You can only modify non-essential pieces of the transaction, but it does change the overall transaction hash. That's the thing I don't get. If one is going to allow non-essential changes, shouldn't one _not_ include those data in the hash? Alternatively, should one simply not allow changes, period? I've not read the Bitcoin paper, just summaries (been too busy, and it's outside my area); perhaps there's a good reas…
Is the real goal of these attacks perhaps to drive down the price temporarily, so that the attackers can purchase at a discount, and then sell shortly afterwards when the price goes back up?
As much as I don't condone this kind of abuse, that's exactly what I'm preparing for. If BTC drops below $500, I'm buying more.
I'm new to this but maybe we need to make it easier to move money from wallet to wallet, from wallet to "hard" currencies and back, etc. Right now it's practically impossible to get verified on an exchange, get money out, paying anywhere with it, etc. You are lucky if you have a bitcoin ATM where the rate is probably not that good but at least you can get some coins without sending your passport to an unknown exchange half across the world.
Without Bitcoin reaching in the real world faster, I'm not sure what strategy to employ to give it any value in the long run, making it more volatile too...
Though I profited strangely last Saturday when ponzi.io screwed up and gave me a ~96x payback, Ponzi/Casino/etc schemes which may in a way help market BTC through ensuing media frenzy, are still mostly detrimental while they are the majority of the currency's activity.
So, maybe we need to simplify software and make them all more compatible, through exported private-keys, etc. Why do I have to pay a fee by paying myself to move my money from my computer to my cell phone, for example...
How can any store expect to be paid in Bitcoin? Does he have to wait 6 verifications before letting the client go? Should we pay when we arrive and trust the store for the change? Maybe then we can have an Escrow service, 3 key involved, to vouch for those short term transaction but then aren't we back to the banking problem?
Is anyone working on a wallet that is compatible with import/export and that grandma can use? :)
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part of the reason is that bit coin does not depend on any banks if you have 100 btc in an offline wallet, you will still have it tomorrow, despite whatever bugs/attacks hit the exchanges. imagine if your bank was hacked, many people would literally be removed of their money. With cryptocoins, you have the advantages of keeping dollars under your mattress while still bring able to spend them anywhere that accepts the…
In what way is that different from fiat money? You can keep fiat money in your mattress and spend it anywhere that accepts them. If you have $100 in a mattress (offline) then you would still have it tomorrow. The problem is that the moneys value may change tomorrow, especially if we are talking about bitcoin.
There is no problem with value changing tomorrow as this is a potential problem with any new payment methodologies. Adoption does not appear magically overnight. The US Dollar is velocity stable due to its wide spread use and being propped up by the equivalent of a bunch of duct tape and bailing wire.
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It's easy to get confused by BitCoin's technicals; it's the difference between reading an article on Wikipedia, and examining that article's source code (or the various web protocols that deliver it to you). At its core, BitCoin is unbelievably simple: a ledger of account, no different than an Excel file, distributed across millions of computers, kept honest through offering rewards for protecting the ledger's integr…
This is the first time I've actually even begun to understand how Bitcoin works. Thanks!
http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-a...
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> I'm just saying that Bitcoin is something that I don't really understand, and so I don't entirely trust it. Then read the paper! :) it's not complicated and it's pretty short. btw do you understand how the banking system works?
That is horrible financial advice.
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> I'm just saying that Bitcoin is something that I don't really understand, and so I don't entirely trust it. Then read the paper! :) it's not complicated and it's pretty short. btw do you understand how the banking system works?
That is horrible financial advice.
Not to be an excuse for the consistent problems with MtGox, but everyone who is affected by the current DDoS attacks should just shut the f..k up.
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http://learncryptography.com/51-attack/ I guess it would be possible.
No, even if you successfully achieve a 51% attack, you can't spend coins from arbitrary wallets.
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In what way is that different from fiat money? You can keep fiat money in your mattress and spend it anywhere that accepts them. If you have $100 in a mattress (offline) then you would still have it tomorrow. The problem is that the moneys value may change tomorrow, especially if we are talking about bitcoin.
You can't secure cash under your mattress with a password, for one thing. That makes cash (and paper wallets) venerable to physical attack, even by vermin: http://metro.co.uk/2007/03/27/mouse-eats-cash-machine-makes-... There is no problem with value changing tomorrow as this is a potential problem with any new payment methodologies. Adoption does not appear magically overnight. The US Dollar is velocity stable due t…