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68% of total Ethereum transaction value controlled by one system

blog.cyber.fund

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Re: 68% of total Ethereum transaction value controlled by one system

#71

Post by Cthulhu_ »

KGIII wrote: post #49
ve55 wrote: post #30

Why is the link at the top of this article ('cyber•Fund') to https://cyber.fund/system/Paragon , a page for 'Paragon', a very shifty high-budget ICO? Given the other things Paragon has paid big bucks for (anything you can imagine, from paying Youtubers 5 figures per video to get their subscribers to 'invest' in them to paying for mass reddit vote manipulation to buying very expensive ads and sponsorship programs to l…

At first, I thought you might be hyperbolic or had fallen for some sort of propaganda (for lack of a better term). I don't know much about ICOs and I know/knew less about Paragon. I figured I'd check and just let you be, figuring I'd not get involved. So, I went to Google and entered, "Paragon ICO complaints Reddit." In two minutes, probably less, I'd confirmed that they were as bad as you claim. I spent about a half…

> Seriously, how is it legal?

Legal? That's Big Government! Crypto is freedom, no gods, no masters! We know better than 300 years of banking, investing, and laws!

/s obviously

Re: 68% of total Ethereum transaction value controlled by one system

#73

Post by homakov »

shawabawa3 wrote: post #69
homakov wrote: post #58

Earlier quoted context omitted.

Such a waste of tx! Ethereum should allow sending directly to 0xAddr#input where input could be kind of tag that is used to identify you.

The address is used to identify you. Deposit addresses aren't shared across accounts. The re-shuffling of the coins is for the exchanges security and accounting

> The re-shuffling of the coins is for the exchanges security and accounting

Neither requires re-shuffling. It's just for convenience and what be even more convenient if every blockchain tx included who they are trying to deposit to providing inputdata even for regular transfers. Like a tag, "these 10 eth for personal_Hash=abc123"

Re: 68% of total Ethereum transaction value controlled by one system

#74

Post by DennisP »

homakov wrote: post #58
dahdum wrote: post #15

Aren't these the temporary deposit addresses that exchanges give out? You deposit and then they sweep the balance to their hot/cold wallets as necessary? Also the ReplaySafeSplit and related contracts were due to the ETH/ETC split, you had to move your coins to be safe. I see no evidence of a "mixer" being the cause.

Such a waste of tx! Ethereum should allow sending directly to 0xAddr#input where input could be kind of tag that is used to identify you.

This actually is possible. Every Ethereum transaction has a data field that can store an arbitrary amount of data.

Normally this is used for function calls to contracts. An exchange could make a contract that lets the user put in their userId when sending eth, and then everybody would be sending to the same address while still being identifiable. It would even be possible to reject deposits which do not include the userId, or which have an unknown userId.

I think the main reason exchanges don't do this is that they deal with lots of cryptocurrencies, so they use the simplest method that works for all of them: just make a unique deposit address for each user.

Re: 68% of total Ethereum transaction value controlled by one system

#75

Post by KGIII »

Cthulhu_ wrote: post #71
KGIII wrote: post #49

Earlier quoted context omitted.

At first, I thought you might be hyperbolic or had fallen for some sort of propaganda (for lack of a better term). I don't know much about ICOs and I know/knew less about Paragon. I figured I'd check and just let you be, figuring I'd not get involved. So, I went to Google and entered, "Paragon ICO complaints Reddit." In two minutes, probably less, I'd confirmed that they were as bad as you claim. I spent about a half…

> Seriously, how is it legal? Legal? That's Big Government! Crypto is freedom, no gods, no masters! We know better than 300 years of banking, investing, and laws! /s obviously

Had you not added the "/s obviously" then I may actually have believed you to be serious.

There are going to be some regulatory changes coming down the pipe, I think. They don't have to try to use tech to prevent the use of cryptocurrency, they need only make it against the law and make use of discretionary prosecution. That's probably one of the weaker tools in their arsenal.

Re: 68% of total Ethereum transaction value controlled by one system

#76

Post by homakov »

DennisP wrote: post #74
homakov wrote: post #58

Earlier quoted context omitted.

Such a waste of tx! Ethereum should allow sending directly to 0xAddr#input where input could be kind of tag that is used to identify you.

This actually is possible. Every Ethereum transaction has a data field that can store an arbitrary amount of data. Normally this is used for function calls to contracts. An exchange could make a contract that lets the user put in their userId when sending eth, and then everybody would be sending to the same address while still being identifiable. It would even be possible to reject deposits which do not include the u…

Yes, that's what I said. The ABI-intended input field could easily be used as personal ID. Furthermore in some cases you need to transfer money to other wallet specifically so it could call some method, and this way you would literally run any method by passing #methodIdarg1arg2. Clumsy but tx cost saving

Re: 68% of total Ethereum transaction value controlled by one system

#77

Post by hisabness »

fataliss wrote: post #57
hisabness wrote: post #53

Earlier quoted context omitted.

can you clarify your comment?

I guess that would be a reference to the scams: https://en.wikipedia.org/wiki/Advance-fee_scam

There was an article awhile back that discussed why most scams claim Nigerian origination and/or are otherwise designed only for the most gullible.

Re: 68% of total Ethereum transaction value controlled by one system

#78

Post by sanxiyn »

hisabness wrote: post #77
fataliss wrote: post #57

Earlier quoted context omitted.

I guess that would be a reference to the scams: https://en.wikipedia.org/wiki/Advance-fee_scam

There was an article awhile back that discussed why most scams claim Nigerian origination and/or are otherwise designed only for the most gullible.

You can read this classic here: https://www.microsoft.com/en-us/research/publication/why-do-...

Re: 68% of total Ethereum transaction value controlled by one system

#79

Post by lawn »

the_stc wrote: post #38
lawn wrote: post #32

Earlier quoted context omitted.

I should add that Monero doesn't use mixing in the same sense. The ring size works so that you cannot see which of the different choices is the correct output until spent. This is different from having the participants swap coins as you do when mixing. The ring size isn't directly comparable to the number of mixing participants or mixing rounds as the former isn't susceptible to blockchain analysis. You can only make…

Sending coins to yourself, aka churning, might not work so well after all, according to the latest MRL report. They say: " We at the Lab previously thought that one possible solution to knacc's described attack would be churning, where one sends funds to oneself multiple times before using at a merchant. Unfortunately, this leads to chains of self-referential transactions, which leave an undesirable and identifiable…

Informative, thanks.

Re: 68% of total Ethereum transaction value controlled by one system

#80

Post by dahdum »

homakov wrote: post #73
shawabawa3 wrote: post #69

Earlier quoted context omitted.

The address is used to identify you. Deposit addresses aren't shared across accounts. The re-shuffling of the coins is for the exchanges security and accounting

> The re-shuffling of the coins is for the exchanges security and accounting Neither requires re-shuffling. It's just for convenience and what be even more convenient if every blockchain tx included who they are trying to deposit to providing inputdata even for regular transfers. Like a tag, "these 10 eth for personal_Hash=abc123"

Actually that would put the onus on the sender to include extra pieces of data, and the exchanges would have to deal with errors from people who send without the hash.

So I'm pretty certain even if it were supported, individual addresses would still be the better choice due to ease of use.

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